香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因依 賴該等內容而引致的任何損失承擔任何責任。 （於開曼群島註冊成立之有限公司） （股份代號：2182） 截 至 2022 年 12 月 31 日 止 年 度 的 年 度 業 績 公 告 天長集團控股有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然宣佈本公司 及其附屬公司（以下統稱為「本集團」）截至2022年12月31日止年度的綜合業績， 連同截至2021年12月31日止年度的比較數據載列如下： 綜合收益表 截至2022年12月31日止年度 2022年 2021年 附註 千港元 千港元 收益 4 1,143,941 1,117,688 商品銷售成本 (883,868) (863,830) 毛利 260,073 253,858 其他收入 5 7,923 7,105 其他（虧損）及收益淨額 6 (7,669) 1,062 物業、廠房及設備的減值虧損 — (7,889) 貿易應收款項虧損撥備撥回（虧損撥備） 216 (349) ...

Financial Performance - Tian Chang Group Holdings Ltd. reported a revenue of HKD 500 million for the first half of 2022, representing a 15% increase compared to the same period last year[6]. - The company achieved a net profit of HKD 80 million, which is a 20% increase year-over-year[6]. - The group reported a total revenue of approximately HK$ 1,000 million for the six months ended June 30, representing an increase of approximately 10% compared to the same period last year[7]. - Gross profit for the same period was approximately HK$ 300 million, with a gross profit margin of 30%[7]. - Basic earnings per share were approximately HK$ 0.20, up from HK$ 0.15 in the previous year[7]. - For the six months ended June 30, 2022, the company reported a profit attributable to equity holders of HK$ 48,587,000[148]. - The company reported a total revenue for the six months ended June 30, 2022, of HK$ 571,412,000[76]. - Profit before tax for the period was HK$ 55,613,000, with a profit margin of approximately 9.7%[76]. - The company reported a total comprehensive income for the period attributable to equity holders of HK$ 11,685,000, after accounting for a foreign exchange loss of HK$ 36,902,000[79]. Market Expansion and Strategy - The company is expanding its market presence in Southeast Asia, targeting a 30% increase in market share within the next year[6]. - The group continues to expand its market presence in Europe, Asia, and the U.S. despite challenges posed by the COVID-19 pandemic[7]. - Future outlook includes ongoing investment in new product development and market expansion strategies[7]. - The company plans to diversify its product portfolio and improve product quality to maintain competitiveness in the market[27]. - The company aims to expand its market presence through new product development and strategic acquisitions in the upcoming fiscal periods[116]. Product Development and Innovation - Research and development expenses increased by 12%, totaling HKD 30 million, focusing on innovative technologies[6]. - The company is actively engaged in the development of new products and technologies, particularly in the e-cigarette and medical consumables sectors, to enhance market competitiveness[102]. - The company has developed higher protection level masks, such as particulate folding masks, which have passed relevant standards in China and the USA[15]. - The company has received FDA premarket notification approval for its particulate folding masks, indicating their safety and effectiveness for medical and surgical use[15]. Operational Efficiency - The company has implemented new strategies to improve operational efficiency, aiming for a 5% reduction in costs by the end of 2022[6]. - The interim report indicates a focus on enhancing operational efficiency and resource allocation across segments to improve overall performance[116]. - The total administrative and other operating expenses amounted to HK$ 59,602,000, which impacted the overall profitability of the company[105]. Corporate Governance - The group maintains high standards of corporate governance to safeguard shareholder interests and enhance corporate value[40]. - The company has adopted high standards of corporate governance to protect shareholder interests and enhance corporate value[41]. - The board of directors has confirmed compliance with the corporate governance code for the six months ending on the specified date[42]. - All directors have confirmed compliance with the Model Code for Securities Transactions during the six months ending on the specified date[48]. Financial Position and Assets - Non-current assets as of June 30, 2022, amounted to HK$ 743,960,000, primarily consisting of property, plant, and equipment valued at HK$ 710,971,000[81]. - Current assets totaled HK$ 447,317,000, with inventories at HK$ 126,386,000 and trade and other receivables at HK$ 216,976,000[81]. - The Company reported net assets of HK$ 754,073,000, with total equity comprising share capital of HK$ 62,000,000 and reserves of HK$ 692,073,000[83]. Risks and Challenges - The business environment remains uncertain due to geopolitical crises and rising interest rates in the U.S., impacting global economic growth[7]. - The company will continue to monitor the impact of COVID-19 on market demand and adjust its business strategies accordingly[26]. - The group continues to assess its foreign currency risk and will take necessary measures as needed[31]. Shareholder Information - The company reported a long position in issued ordinary shares, indicating strong shareholder confidence[57]. - Substantial shareholders, excluding directors and executives, hold significant interests in the company's shares, reflecting robust external investment[58]. - The company maintains a detailed register of substantial shareholders, ensuring compliance with securities regulations[60]. Income and Expenses - The company incurred finance costs totaling HK$ 3,298,000, which includes interest on borrowings and lease liabilities[136]. - The total income tax expense for the period was HK$ 7,026,000, which includes current and deferred tax[139]. - The cost of inventories sold was HK$ 452,093,000, reflecting the company's operational expenses[136]. Future Outlook - Future expansion strategies may include market penetration in new regions and potential mergers or acquisitions to bolster growth and operational capabilities[102]. - The company anticipates that the adoption of new or revised Hong Kong Financial Reporting Standards will not lead to significant changes in accounting policies or materially impact the financial position, performance, and cash flows in the future[101].

Financial Performance - The Group's total revenue for the year amounted to approximately HK$1,117.7 million, representing an increase of approximately 41.9% compared to HK$787.4 million in 2020[8]. - The Group recorded a gross profit of approximately HK$253.9 million, with a gross profit margin of approximately 22.7%, down from 24.6% in 2020[8]. - Profit attributable to equity holders of the Company was approximately HK$96.3 million, an increase from HK$73.7 million in 2020[8]. - Basic earnings per share attributable to equity holders of the Company were approximately 15.53 HK cents, compared to 11.89 HK cents in 2020[8]. - Revenue for the year ended 31 December 2021 was approximately HK$1,117.7 million, representing an increase of approximately HK$330.3 million, or approximately 41.9%, from approximately HK$787.4 million for the year ended 31 December 2020[26]. - Profit for the year ended 31 December 2021 was approximately HK$96.3 million, representing an increase of approximately HK$22.6 million, or approximately 30.7%, from approximately HK$73.7 million for the year ended 31 December 2020[36]. Revenue Segmentation - The Group operates through three segments: integrated plastic solutions, e-cigarettes, and medical consumable products[8]. - The integrated plastic solutions segment revenue for the year ended 31 December 2021 was approximately HK$481.4 million, accounting for approximately 43.1% of total revenue, representing an increase of approximately HK$142.1 million, or approximately 41.9% from HK$339.3 million for the year ended 31 December 2020[26]. - The e-cigarettes products segment revenue for the year ended 31 December 2021 was approximately HK$634.3 million, accounting for approximately 56.8% of total revenue, representing an increase of approximately HK$192.6 million, or approximately 43.6% from HK$441.7 million for the year ended 31 December 2020[26]. - The medical consumable products segment revenue for the year ended 31 December 2021 was approximately HK$2.0 million, accounting for approximately 0.1% of total revenue, representing a decrease of approximately HK$4.4 million, or approximately 68.8% from HK$6.4 million for the year ended 31 December 2020[28]. Operational Developments - The growth in revenue was driven by increased sales of e-cigarette products and integrated plastic solutions[8]. - The business environment improved in 2021 as the COVID-19 pandemic was gradually brought under control[8]. - The Group distributes its products in domestic and overseas markets, including Europe, Asia, and the United States[8]. - The Group's capital expenditure for the year amounted to approximately HK$80.9 million, including HK$17.2 million for new machines and HK$60.2 million for new factory construction[11][12]. - The new factory premises are expected to be completed in the first quarter of 2022, with plans to lease them to independent third parties[13][16]. Quality and Compliance - The cleanroom facility in Huizhou has been certified to ISO14644-1:2015 Class 8 standards, ensuring compliance with international quality management systems for medical devices[21][22]. - The manufacturing quality system is certified by Société Générale de Surveillance (SGS) under EN ISO13485:2016 standards[21][22]. - The Group has established an environmental management system in accordance with ISO 14001:2015 to minimize environmental impact[84]. - The Group's operations are in strict compliance with national and local environmental laws and regulations, ensuring sustainable business practices[84]. Environmental Initiatives - The Group aims to reduce carbon emissions and energy usage by no less than 5% by 2030, using 2021 as the baseline year[89]. - Total GHG emissions rose from 17,165.18 t-CO2 eq. in 2020 to 21,510.68 t-CO2 eq. in 2021, marking an increase of about 25.4%[95]. - The Group's environmental initiatives include measures to reduce emissions and improve waste management and recycling[79]. - The Group aims to reduce hazardous and non-hazardous waste by approximately 5% by 2030, using 2021 as the baseline[106]. Employee Welfare and Management - The Group's workforce increased to 1,065 employees as of December 31, 2021, up from 1,030 in 2020, representing a growth of approximately 3.4%[126]. - The Group provides free housing and meals to employees in Huizhou, promoting employee welfare and satisfaction[130]. - The Group has implemented a management system for salary reviews and promotions, ensuring fair employment practices[130]. - The Group received the SA8000:2014 Social Accountability Certification, recognizing its socially acceptable workplace practices[130]. Corporate Governance - The Group has a strong commitment to high standards of corporate governance to protect shareholder interests and enhance corporate value[200]. - The management team includes independent non-executive directors with diverse backgrounds in auditing, legal matters, and electronic product manufacturing, enhancing corporate governance[188][189][190]. - The Group is committed to protecting intellectual property rights and has not faced any complaints regarding non-compliance in this area during the reporting period[177]. Community Engagement - The Group encourages employees to engage in community volunteer services and plans to participate in more charitable activities[183]. - The Group intends to establish a voluntary team to coordinate community service efforts[183].

Financial Performance - For the six months ended June 30, 2021, the Group's total revenue was approximately HK$471.3 million, representing an increase of approximately 60.7% compared to HK$293.3 million for the same period last year[7]. - The Group recorded a gross profit of approximately HK$103.4 million, with a gross profit margin of approximately 21.9%, compared to a gross profit of HK$68.7 million and a margin of 23.4% in the previous year[7]. - Profit attributable to equity holders for the six months ended June 30, 2021, was approximately HK$39.2 million, a significant increase from HK$5.6 million in the same period last year[7]. - Basic earnings per share attributable to equity holders were approximately 6.32 HK cents, compared to 0.90 HK cents for the same period last year[7]. - Total comprehensive income for the period was HK$46,186,000, compared to a loss of HK$5,940,000 in the previous year[84]. - The company reported a profit for the period of HK$39,197,000 for the six months ended June 30, 2021, compared to a profit of HK$5,556,000 for the same period in the previous year, indicating a significant increase[92]. - The basic earnings per share for the six months ended June 30, 2021, was HK$6.32, compared to HK$0.90 for the same period in 2020, reflecting a substantial increase of 600%[160]. Revenue Segments - The growth in revenue was primarily driven by increased sales in the e-cigarette products and integrated plastic solutions segments[7]. - The e-cigarettes products segment revenue for the six months ended June 30, 2021, was approximately HK$280.3 million, accounting for approximately 59.5% of total revenue, and representing an increase of approximately HK$107.9 million, or approximately 62.6%, from approximately HK$172.4 million for the same period in 2020[19]. - The integrated plastic solutions segment revenue for the six months ended June 30, 2021, was approximately HK$189.8 million, accounting for approximately 40.3% of total revenue, and representing an increase of approximately HK$73.7 million, or approximately 63.5%, from approximately HK$116.1 million for the same period in 2020[18]. - The medical consumable products segment revenue for the six months ended June 30, 2021, was approximately HK$1.2 million, accounting for approximately 0.2% of total revenue, and representing a decrease of approximately HK$3.5 million, or approximately 74.5%, from approximately HK$4.7 million for the same period in 2020[20]. Cost and Expenses - Selling and distribution costs for the six months ended June 30, 2021, were approximately HK$3.5 million, a decrease of approximately 32.7% from HK$5.2 million in the same period of 2020[26]. - Administrative and other operating expenses for the six months ended June 30, 2021, were approximately HK$54.9 million, unchanged from the same period in 2020[26]. - Finance costs for the six months ended June 30, 2021, were approximately HK$4.3 million, similar to HK$4.5 million for the same period in 2020[26]. - Research and development expenses totaled HK$12,162,000, reflecting the company's commitment to innovation and product development[119]. - Staff costs, including directors' emoluments, rose to HK$73,795,000 for the six months ended June 30, 2021, compared to HK$48,085,000 in 2020, marking an increase of 53.4%[149]. Assets and Liabilities - As of June 30, 2021, the Group had bank balances and cash of approximately HK$63.9 million, down from HK$117.0 million as of December 31, 2020[30]. - Interest-bearing borrowings as of June 30, 2021, amounted to HK$210.5 million, with a weighted average effective interest rate of approximately 3.02% per annum[30]. - The Group's gearing ratio as of June 30, 2021, was 39.7%, a decrease from 44.5% as of December 31, 2020[30]. - Net current liabilities increased to approximately HK$64.1 million as of June 30, 2021, up by approximately HK$15.4 million from HK$48.7 million as of December 31, 2020[30]. - Non-current assets increased to HK$794,773,000 as of June 30, 2021, from HK$755,849,000 at the end of 2020[86]. - The total trade and other receivables as of June 30, 2021, amounted to HK$216,642,000, compared to HK$188,828,000 as of December 31, 2020, marking an increase of about 14.7%[190]. Market and Product Development - The Group distributes its medical consumable products, including disposable face masks, under its own brand "CAREWE" to both domestic and overseas markets[7]. - The Group has developed higher-level protection face masks, such as KN95 and FFP2, which have passed relevant standards and certifications[21]. - The Group plans to continue expanding its e-cigarette product line and integrated plastic solutions to capture a larger market share in the upcoming quarters[135]. Corporate Governance - The Company has complied with the Corporate Governance Code during the six months ended 30 June 2021[50]. - The Board does not recommend the payment of an interim dividend for the six months ended 30 June 2021 (30 June 2020: Nil)[55]. - All Directors confirmed compliance with the Model Code for Securities Transactions during the six months ended 30 June 2021[55]. Shareholder Information - As of 30 June 2021, Mr. Chan Tsan Lam holds a total interest of 379,923,000 shares, representing approximately 61.3% of the Company[60]. - The total number of shares held by substantial shareholders reflects significant ownership concentration within the company[68]. - The Company granted 37,840,000 share options to eligible participants on May 13, 2020, which resulted in potential dilutive ordinary shares being recognized[171].

Financial Performance - The Group's total revenue for 2020 was approximately HK$787.4 million, a decrease of approximately 37.1% compared to HK$1,251.1 million in 2019[26]. - Gross profit for the year was approximately HK$193.7 million, with a gross profit margin of approximately 24.6%, down from 25.0% in 2019[26]. - Profit attributable to equity holders of the Company was approximately HK$73.7 million, compared to HK$127.2 million in 2019[27]. - Basic earnings per share were approximately HK11.89 cents, down from HK20.52 cents in 2019[27]. - Revenue for the year ended December 31, 2020, was approximately HK$787.4 million, a decrease of about HK$463.7 million or approximately 37.1% from HK$1,251.1 million for the year ended December 31, 2019[57]. - Other income for the year ended December 31, 2020, was approximately HK$7.6 million, an increase of approximately HK$2.7 million or 55.1% from HK$4.9 million in 2019[65]. - Selling and distribution costs for the year ended December 31, 2020, were approximately HK$8.5 million, a decrease of approximately HK$2.9 million or 25.4% from HK$11.4 million in 2019[65]. - Administrative and other operating expenses for the year ended December 31, 2020, were approximately HK$96.2 million, a decrease of approximately HK$39.2 million or 29.0% from HK$135.4 million in 2019[68]. Capital Expenditure and Investments - Capital expenditure for the year amounted to approximately HK$116.2 million, including HK$49.0 million for new machines and HK$52.7 million for new factory premises[33]. - The new factory is expected to be completed in May 2021, enhancing research and development capabilities and accommodating automated production lines[38]. - The Group did not make any material acquisitions or disposals of subsidiaries and associated companies for the year ended December 31, 2020[72]. - There are no plans for material investments or increases in capital assets beyond the construction of a new factory in Huizhou, expected to be completed in May 2021[89]. Cash and Debt Management - The Group currently has sufficient cash on hand and available banking facilities to meet its business needs[34]. - As of December 31, 2020, cash and cash equivalents were approximately HK$117.0 million, an increase from HK$85.6 million in 2019[70]. - The group's interest-bearing borrowings amounted to approximately HK$230.0 million, up from HK$119.6 million in 2019, with a weighted average effective interest rate of 3.34% compared to 4.13% in 2019[74]. - The debt-to-equity ratio as of December 31, 2020, was 44.5%, an increase from 39.8% in 2019[74]. Environmental Performance - The Group's total greenhouse gas (GHG) emissions decreased from 18,036.54 tonnes CO2 equivalent in 2019 to 17,165.18 tonnes CO2 equivalent in 2020, representing a reduction of approximately 4.8%[113]. - Vehicle emissions were reduced from 115 tonnes CO2 equivalent in 2019 to 73 tonnes CO2 equivalent in 2020, a decrease of about 36.5%[114]. - Emissions from flights dropped significantly from 27 tonnes CO2 equivalent in 2019 to 4 tonnes CO2 equivalent in 2020, a reduction of approximately 85.2%[114]. - Nitrogen oxides (NOx) emissions decreased from 100.35 kg in 2019 to 44.45 kg in 2020, a reduction of about 55.8%[111]. - Sulphur oxides (SOx) emissions fell from 0.63 kg in 2019 to 0.40 kg in 2020, a decrease of approximately 36.5%[111]. - The Group's GHG emissions for Scope 1 decreased from 222.66 tonnes CO2 equivalent in 2019 to 139.11 tonnes CO2 equivalent in 2020, a reduction of about 37.5%[113]. - GHG emissions for Scope 2 also saw a decline from 17,650.99 tonnes CO2 equivalent in 2019 to 16,902.06 tonnes CO2 equivalent in 2020, a decrease of approximately 4.2%[113]. - The Group has established an environmental management system in accordance with ISO 14001:2015 to monitor and improve environmental performance[108]. - The Group's operations complied with all national and local environmental laws and regulations during the reporting period[108]. Workforce and Employee Management - The Group's workforce decreased to 1,030 employees as of December 31, 2020, down from 1,168 in 2019, representing a reduction of approximately 11.8%[141]. - The gender distribution of employees shows 575 males and 455 females in 2020, compared to 699 males and 469 females in 2019, indicating a decrease in both categories[142]. - The total number of management staff decreased from 147 in 2019 to 137 in 2020, reflecting a reduction of approximately 6.8%[142]. - The Group recorded 9 work-related injuries in the reporting period, a decrease from 13 in 2019, with a total of 552 lost working hours compared to 541 hours in 2019[154]. - The Group provided training to 1,435 staff in 2020, an increase from 1,233 in 2019, with total training hours amounting to 11,879 hours, down from 12,776 hours in 2019[160]. - The percentage of employees trained by gender shows 54% male and 46% female in 2020, compared to 57% male and 43% female in 2019[164]. - The Group emphasizes a clean and tidy working environment, ensuring proper ventilation and sanitation measures are in place[154]. Corporate Governance and Compliance - The Group strictly adheres to local labor laws and regulations, with no reported non-compliance during the reporting period[146]. - The Group has implemented "Procedures on Information Exchange" to ensure product quality and safety responsibilities are clearly defined[177]. - The Group has not been aware of any complaints or non-compliance related to intellectual property rights during the reporting period[176]. - The Group emphasizes high moral standards and integrity from employees and business partners, with regular anti-corruption training provided[181]. - The Group has a zero-tolerance policy towards any dishonesty and unethical business behaviors, with immediate penalties for violations[182]. - The Group strictly complies with relevant laws and regulations regarding anti-corruption and anti-money laundering[181]. Community Engagement and Social Responsibility - The Group sponsored disposable face masks to charitable institutions during the reporting period, demonstrating its commitment to community involvement[184]. - The Group aims to fulfill its social responsibility through active community engagement and support[184]. - The Group will continue to participate in more charitable activities and allocate more resources to social and environmental protection[185]. Management Team - Mr. Hung Chun Leung has approximately 20 years of experience in legal matters, including conveyancing and commercial contracts, and has been with the Group since February 2018[196]. - Mr. Chan Bing Kai has over 40 years of experience in the electronic products manufacturing industry and co-founded a company specializing in audio and LED products, joining the Group in February 2018[197]. - Mr. Wu Chi Wai has over 15 years of experience in auditing, accounting, and corporate management, and has been with the Group since May 2019[198].

Financial Performance - For the six months ended June 30, 2020, the Group's total revenue was approximately HK$293.3 million, a decrease of approximately 56.0% compared to HK$666.7 million in the same period last year[10]. - The Group recorded a profit attributable to equity holders of approximately HK$5.6 million for the six months ended 30 June 2020, a decrease of approximately 91.5% from HK$65.9 million in the same period of 2019[12]. - Basic earnings per share attributable to equity holders were approximately 0.90 HK cents, down from 10.63 HK cents in the same period of 2019[12]. - Total revenue for the six months ended 30 June 2020 was approximately HK$293.3 million, representing a decrease of approximately 56.0% from HK$666.7 million in the same period of 2019[16]. - The Group recorded a gross profit of approximately HK$68.7 million, with a gross profit margin of approximately 23.4%, compared to a gross profit of HK$162.3 million and a margin of 24.3% in the same period last year[10]. - Gross profit for the six months ended 30 June 2020 was approximately HK$68.7 million, a decrease of 57.7% from HK$162.3 million for the same period in 2019, with a gross profit margin of 23.4%[18]. - The total comprehensive loss for the period attributable to equity holders of the Company was HK$5,940,000, compared to a comprehensive income of HK$67,131,000 in 2019[77]. Revenue Breakdown - Revenue from the integrated plastic solutions segment was approximately HK$116.1 million, accounting for approximately 39.6% of total revenue, and decreased by approximately 41.7% from HK$199.2 million in the same period of 2019[16]. - Revenue from the e-cigarettes products segment was approximately HK$172.4 million, accounting for approximately 58.8% of total revenue, and decreased by approximately 63.1% from HK$467.5 million in the same period of 2019[16]. - The medical consumable products segment generated approximately HK$4.7 million in revenue, accounting for approximately 1.6% of total revenue, as a new segment established during the period[16]. - The e-cigarettes products segment generated revenue of HK$172.4 million, while the integrated plastic solutions segment contributed HK$116.1 million, and the newly established medical consumable products segment accounted for HK$4.7 million[120]. Operational Challenges - The manufacturing and delivery of some confirmed orders have been delayed or suspended due to the COVID-19 pandemic and related lockdown measures[8]. - The adverse business environment has led to a decrease in demand for the Group's products overall[9]. - The Group's financial position and performance have been significantly impacted by events and transactions since December 31, 2019[102]. Cash Flow and Liquidity - As of June 30, 2020, the Group had cash and cash equivalents of approximately HK$124.7 million, an increase from HK$85.6 million as of December 31, 2019[24]. - The Group recorded net current liabilities of approximately HK$78.4 million as of June 30, 2020, an increase of approximately HK$25.5 million from HK$52.9 million as of December 31, 2019[24]. - The management believes that the Group has sufficient working capital for its present requirements, based on confirmed credit commitments and internal financial resources[104]. - The Group's current liabilities exceeded its current assets by approximately HK$78,425,000, compared to HK$52,908,000 as of December 31, 2019[102]. Segment Development - The Group has established a new segment for medical consumable products, anticipating sustained high demand for disposable face masks and other medical consumables in the future[8]. - The Group operates through three segments: integrated plastic solutions, e-cigarettes, and medical consumables, with the latter segment being newly developed[10]. - The Group established a production line for disposable face masks during the six months ended 30 June 2020, utilizing cleanroom facilities and production machines acquired[14]. Shareholder Information - As of June 30, 2020, Mr. Chan Tsan Lam holds a total of 374,015,000 shares, representing approximately 60.3% of the Company's shareholding[50]. - Oceanic Green and New Strength each hold 127,100,000 shares, accounting for 20.5% of the Company's total shares[61]. - Gold Alliance holds 94,395,000 shares, which is approximately 15.2% of the Company's total shares[61]. - The Company does not recommend the payment of an interim dividend for the six months ended June 30, 2020, compared to HK1.5 cents for the same period in 2019[46]. Compliance and Governance - The Company has complied with the Corporate Governance Code during the six months ended 30 June 2020, except for the chairman and CEO roles being held by the same individual[41]. - The audit committee reviewed the Group's unaudited condensed consolidated financial statements for the six months ended 30 June 2020[45]. Future Outlook - The Group has developed new disposable face mask products, including KN95 and FFP2 masks, which are ready for mass production in the second half of 2020[22]. - The new factory premises under construction are expected to be completed in January 2021, aimed at enhancing production capacity and R&D capabilities[22].

Financial Performance - The Group's total revenue for the year ended December 31, 2019, was approximately HK$1,251.1 million, representing a year-on-year increase of approximately 30.3% compared to HK$959.9 million in 2018[7]. - The Group recorded a gross profit of approximately HK$313.4 million with a gross profit margin of approximately 25.0%, compared to a gross profit of HK$237.8 million and a margin of 24.8% in 2018[7]. - Profit attributable to owners of the Company was approximately HK$127.2 million, up from HK$75.8 million in 2018, with basic earnings per share of approximately HK20.52 cents compared to HK12.80 cents in the previous year[7]. - Revenue for the year ended December 31, 2019, was approximately HK$1,251.1 million, representing an increase of approximately HK$291.2 million, or approximately 30.3%, from approximately HK$959.9 million for the year ended December 31, 2018[17]. - The integrated plastic solutions segment revenue for the year ended December 31, 2019, was approximately HK$391.2 million, accounting for approximately 31.3% of the total revenue, representing a decrease of approximately HK$83.1 million, or approximately 17.5%, from segment revenue of HK$474.3 million for the year ended December 31, 2018[17]. - The e-cigarettes products segment revenue for the year ended 31 December 2019 was approximately HK$859.9 million, accounting for approximately 68.7% of total revenue, representing an increase of approximately HK$374.2 million, or approximately 77.0%, from HK$485.7 million for the year ended 31 December 2018[19]. - Gross profit for the year ended 31 December 2019 was approximately HK$313.4 million, with a gross profit margin of 25.0%, compared to HK$237.8 million and 24.8% in 2018[19]. - Segment gross profit for e-cigarettes products for 2019 was approximately HK$216.2 million, with a gross profit margin of 25.1%, down from 26.3% in 2018, primarily due to higher production costs of new model e-cigarettes[19]. Capital Expenditure and Investments - Capital expenditure for the year amounted to approximately HK$149.0 million, including HK$85.2 million for new machines and HK$49.1 million for new factory premises[9]. - Capital expenditure for the year ended December 31, 2019, was approximately HK$149.0 million, including HK$85.2 million for the purchase of new machinery and HK$49.1 million for the construction of new factory premises[12]. - The construction of new factory premises is expected to provide room for additional new product production lines and achieve automated production[10]. - The Group's ongoing investments in new site construction in Huizhou, Guangdong province, reflect a strategic focus on growth and market expansion[182]. Market and Operational Challenges - The Group's operations were impacted by the Sino-US trade war and social unrest in Hong Kong during 2019, yet it managed to strengthen partnerships with business associates[7]. - The outbreak of COVID-19 is anticipated to adversely affect global business for a substantial time in 2020, leading to adjustments in strategies to mitigate expected downward risks[14]. - The Huizhou Operations were suspended due to COVID-19 outbreak, resuming on February 13, 2020, but faced temporary production capacity drop due to transportation limitations[51]. - Management expects delays in resuming original production schedules and late product deliveries in the coming months[51]. - The Group has not been able to estimate the financial impact of the COVID-19 events but considers there to be no significant adverse effects on its financial position[51]. Corporate Governance - The company has adopted the principles and code provisions of the Corporate Governance Code to ensure proper regulation of business activities and decision-making processes[64]. - The company has complied with all applicable code provisions of the Corporate Governance Code, except for code provision A.2.1[65]. - The company is committed to maintaining high standards of corporate governance to safeguard shareholder interests and enhance corporate value[64]. - The Board currently comprises 6 members, including 3 executive Directors and 3 independent non-executive Directors[70]. - The Chairman and Chief Executive Officer is Mr. Chan Tsan Lam, who holds both positions despite the CG Code recommendation for separation, due to his extensive experience[73]. - The Company has complied with the CG Code throughout the year ended December 31, 2019[73]. - The Board has met the requirements of having three independent non-executive Directors, representing at least one third of the Board[73]. - The Company has a structured process for the appointment, re-election, and removal of Directors as outlined in its Articles of Association[75]. - The Company aims to ensure compliance with the CG Code and enhance transparency in its corporate governance report[80]. Financial Position and Risk Management - As of December 31, 2019, the Group had cash and cash equivalents of approximately HK$85.6 million, an increase from HK$61.4 million in 2018[24]. - Interest-bearing borrowings as of December 31, 2019, were approximately HK$103.2 million, down from HK$148.6 million in 2018, with a weighted average effective interest rate of approximately 4.18%[24]. - The Group's gearing ratio as of December 31, 2019, was 39.8%, a decrease from 52.7% in 2018[24]. - Net current liabilities increased to approximately HK$52.9 million as of December 31, 2019, compared to HK$13.9 million in 2018, primarily due to the acquisition of new machines and construction of a new factory[24]. - The Group's internal control and risk management systems were deemed effective during the year ended 31 December 2019, with no material issues identified that required significant rectification[122]. - The Group faced market risks due to fluctuations in raw material prices, which may adversely affect business and financial conditions[138]. - The financial risk management objectives and policies of the Group are detailed in Note 29 of the consolidated financial statements[138]. Shareholder Information - The Board recommends a final dividend of HK1.5 cents per share for the year ended December 31, 2019, subject to shareholder approval[54]. - The register of members will be closed from June 24 to June 26, 2020, for determining entitlement to the final dividend[141]. - The Company maintains a dividend policy to ensure sufficient cash reserves for operational needs and future business growth[150]. - The largest customer contributes 72% to the Group's total revenue, while the five largest customers together account for 93%[171]. - The largest supplier accounts for 43% of the Group's total purchases, and the five largest suppliers together represent 63%[171]. Management and Directors - Mr. Wu Chen-Tong, aged 63, oversees the development and manufacturing of new products and quality control in the R&D department[61]. - Mr. Chan Tsz Wai, aged 25, is responsible for the development and marketing of new products[61]. - Mr. Ng Chi Wai has over 15 years of experience in auditing, accounting, and corporate management[59]. - Mr. Hung Chun Leung has approximately 20 years of experience in handling legal matters in various areas[59]. - Mr. Chan Bing Kai has over 40 years of experience in the manufacturing industry of electronic products[59]. Audit and Compliance - The Audit Committee, established on February 8, 2018, is responsible for recommending the appointment and remuneration of the external auditor[102]. - The audit committee held two meetings during the period to review the company's annual financial statements and the effectiveness of financial controls, internal monitoring, and risk management systems[104]. - The external auditors, Mazars CPA Limited, received a total of HK$1,625,000 for audit and non-audit services for the year ended December 31, 2019, including HK$1,200,000 for audit services and HK$425,000 for audit-related services[115]. - The directors confirmed their responsibilities for preparing consolidated financial statements that provide a true and fair view of the group's financial position and comply with relevant laws and listing rules[116]. - The audit opinion states that the financial statements give a true and fair view of the Group's financial performance and cash flows for the year ended December 31, 2019[178].

Financial Performance - The Group recorded significant growth in revenue and profit after tax, primarily driven by increased sales of e-cigarette products [8]. - The Group's total revenue for the six months ended 30 June 2019 was approximately HK$666.7 million, representing an increase of approximately 137.8% compared to HK$280.4 million for the same period in 2018 [11]. - Gross profit for the six months ended 30 June 2019 was approximately HK$162.3 million, with a gross profit margin of approximately 24.3%, up from 22.9% in the same period of 2018 [16]. - The e-cigarettes products segment revenue was approximately HK$467.5 million, accounting for approximately 70.1% of total revenue, representing an increase of approximately 380.7% from HK$97.2 million in 2018 [13]. - Profit attributable to equity holders of the company for the six months ended 30 June 2019 was approximately HK$65.9 million, representing an increase of approximately 1,606.9% from HK$3.9 million for the same period in 2018 [18]. - Basic earnings per share attributable to equity holders were approximately 10.63 HK cents, up from 0.69 HK cents in 2018 [11]. - Profit before tax increased to HK$87,963,000, a substantial rise from HK$7,739,000 in the previous year, marking an increase of 1031.5% [59]. - Total comprehensive income for the period attributable to equity holders of the Company was HK$67,131,000, significantly higher than HK$501,000 in the same period of 2018 [61]. Revenue Segmentation - Revenue for the integrated plastic solutions segment experienced high single-digit growth compared to the same period in 2018 [8]. - The integrated plastic solutions segment revenue was approximately HK$199.2 million, accounting for approximately 29.9% of total revenue, representing an increase of approximately 8.8% from HK$183.1 million in 2018 [13]. - Segment revenue for e-cigarettes products reached HK$467,453,000, while integrated plastic solutions generated HK$199,218,000, totaling HK$666,671,000 for the six months ended June 30, 2019 [113]. - Revenue from the sale of e-cigarettes products reached HK$467,453,000, compared to HK$97,235,000 in the prior year, indicating a growth of about 381.5% [141]. - Revenue from the sale of moulds and plastic products was HK$199,218,000, up from HK$183,128,000, reflecting an increase of approximately 8.8% [141]. Costs and Expenses - Selling and distribution costs for the six months ended 30 June 2019 were approximately HK$6.4 million, representing a decrease of approximately 11.0% from HK$7.1 million in 2018 [16]. - Administrative and other operating expenses for the six months ended 30 June 2019 were approximately HK$67.0 million, representing an increase of approximately 66.1% from HK$40.3 million for the same period in 2018 [18]. - Employee benefits expenses rose to HK$91,258,000, up 51.5% from HK$60,237,000 in the prior year [150]. - The total income tax expenses for the six months ended June 30, 2019, amounted to HK$22,044,000, compared to HK$3,877,000 in 2018, reflecting a substantial increase [152]. - The finance costs decreased to HK$4,893,000 from HK$5,345,000, showing improved cost management [146]. Cash Flow and Liquidity - As at 30 June 2019, the group had cash and cash equivalents of approximately HK$122.2 million, an increase from HK$61.4 million as of 31 December 2018 [23]. - Total cash generated from operating activities was HK$203,779,000, significantly improving from a cash outflow of HK$15,741,000 in the same period last year [81]. - Cash and cash equivalents at the end of the period amounted to HK$122,172,000, representing a significant increase of 51.4% from HK$80,686,000 at the end of June 2018 [83]. - The net cash used in investing activities amounted to HK$34,139,000, compared to HK$22,285,000 in the previous year [81]. - Cash from financing activities resulted in a net outflow of HK$80,090,000, contrasting with an inflow of HK$103,592,000 in the prior year [81]. Strategic Initiatives - The Group plans to expand its research and development team and upgrade production lines with new high-precision mould making and plastic injection machines [8]. - The Group aims to match its competitive strengths with products that have good prospects for continuous growth [8]. - The Group is advancing towards an automated production process as part of its future development strategy [8]. - The Group's focus on e-cigarettes and integrated plastic solutions indicates a strategic emphasis on these segments for future growth and market expansion [109]. Market Conditions - The regional economy faced risks due to the Sino-US trade war, negatively impacting market demand for many consumer products [8]. - The overall market demand for consumer products was negatively affected during the first half of 2019 [8]. - The impact of new laws and regulations on e-cigarette consumption in various overseas countries is expected to be limited [8]. Corporate Governance - The Company has complied with the Corporate Governance Code during the six months ended 30 June 2019 [36]. - The audit committee reviewed the Group's unaudited consolidated financial statements for the six months ended 30 June 2019 [39]. - All Directors confirmed compliance with the Model Code during the six months ended 30 June 2019 [39]. Shareholder Information - The Company declared an interim dividend of HK1.5 cents per ordinary share for the six months ended 30 June 2019, compared to HK$nil for the same period in 2018 [41]. - Mr. Chan Tsan Lam holds 373,395,000 shares, representing a 60.2% interest in the Company [43]. - As of June 30, 2019, Oceanic Green and New Strength each held 127,100,000 shares, representing 20.5% of the company's issued ordinary shares [51]. - The company adopted a Share Option Scheme on May 28, 2019, allowing for the issuance of up to 62,000,000 shares, which is 10% of the shares in issue at the time [56]. Accounting Standards - The interim financial statements have been prepared in accordance with HKAS 34, reflecting the company's commitment to transparency and compliance with accounting standards [89]. - The Group adopted HKFRS 16, resulting in the recognition of long-term lease liabilities previously classified as operating leases, amounting to HK$42,879,000 [94]. - The transition to HKFRS 16 impacted the consolidated statement of financial position, with right-of-use assets recognized at HK$140,007,000 [104].

Financial Performance - The Group's total revenue for the year ended December 31, 2018, was approximately HK$959.9 million, representing a year-on-year increase of approximately 67.6% compared to HK$572.9 million in 2017[11]. - Profit attributable to owners of the Company was approximately HK$75.8 million, significantly higher than HK$20.1 million in 2017, with basic earnings per share of approximately HK12.80 cents compared to HK4.32 cents in 2017[11]. - Revenue for the year ended December 31, 2018, was approximately HK$959.9 million, representing an increase of approximately HK$387.0 million or 67.6% from HK$572.9 million for the year ended December 31, 2017[26]. - Profit before tax increased significantly to HK$104,282,000, compared to HK$31,025,000 in the previous year, marking a 236.5% growth[193]. - Profit for the year attributable to equity holders was HK$75,755,000, a substantial increase from HK$20,078,000 in 2017, reflecting a 276.5% rise[196]. - Total comprehensive income for the year attributable to equity holders was HK$70,924,000, up from HK$37,026,000 in 2017, representing an increase of 91.5%[196]. Gross Profit and Margins - The Group recorded a gross profit of approximately HK$237.8 million, with a gross profit margin of approximately 24.8%, up from 23.4% in 2017[11]. - Gross profit for the year ended December 31, 2018, was approximately HK$237.8 million, an increase of approximately HK$103.8 million or 77.4% from HK$134.0 million for the year ended December 31, 2017[26]. - The gross profit for the integrated plastic solutions segment for 2018 was approximately HK$110.0 million, an increase of approximately HK$52.4 million or 91.0% from approximately HK$57.6 million for 2017[26]. - The gross profit for e-cigarettes in 2018 was approximately HK$127.8 million, an increase from HK$76.4 million in 2017, although the gross profit margin decreased from 30.5% in 2017 to 26.3% in 2018[29]. Capital Expenditure and Investments - Capital expenditure during the period was approximately HK$138.2 million, primarily for new machines acquired and installed at the new site in Huizhou[11]. - The company invested HK$57.1 million in 49 sets of plastic injection machines and their automated ancillary equipment, representing 73.6% of the total proceeds[42]. - An investment of HK$8.0 million was made for advanced equipment for an automated PET manufacturing line, with HK$1.8 million remaining unutilized[42]. - The Group plans to expand production capacity by adding highly automated machinery and constructing new factory premises with a total floor area of approximately 78,000 sqm, expected to commence in the second half of 2019[14]. Market and Product Segments - The integrated plastic solutions segment revenue for the year ended December 31, 2018, was approximately HK$474.3 million, an increase of approximately HK$152.4 million or 47.3% from HK$321.9 million for the year ended December 31, 2017[26]. - The e-cigarettes products segment revenue for the year ended December 31, 2018, was approximately HK$485.7 million, representing an increase of approximately HK$234.7 million or 93.5% from HK$251.0 million for the year ended December 31, 2017[26]. - The Group aims to capture market growth in integrated plastics solutions and e-cigarette products through capacity expansion and equipment upgrades[13]. Corporate Governance and Management - The company has complied with all applicable code provisions of the Corporate Governance Code, except for code provision A.2.1[63]. - The Company has adopted the Model Code for Securities Transactions by Directors to regulate dealings in its securities[63]. - The independent non-executive directors have confirmed their independence in accordance with Rule 3.13 of the Listing Rules[75]. - The Company established an audit committee on February 8, 2018, in compliance with the Listing Rules and CG Code[103]. Financial Position and Risks - As of 31 December 2018, the Group had cash and cash equivalents of approximately HK$61.4 million, up from HK$18.6 million in 2017[34]. - The Group's gearing ratio as of 31 December 2018 was 52.7%, a decrease from 85.3% in 2017[34]. - The Group's ability to continue as a going concern is assessed by the directors, who must disclose relevant matters[182]. - Significant adjustments would be required to the consolidated financial statements if the Group is unable to operate as a going concern[178]. Shareholder Information - The board recommended a final dividend of HK$3.0 cents per share for the year ended December 31, 2018, subject to shareholder approval[47]. - The proposed final dividend is expected to be paid on 10 July 2019 if approved[141]. - Shareholders holding at least 10% of the paid-up capital have the right to request the Board to convene an extraordinary general meeting[126]. Internal Controls and Audit - The Audit Committee assists the directors in overseeing the Group's financial reporting process[182]. - The Group's internal control and risk management systems were deemed effective as of December 31, 2018, with no significant issues identified requiring major amendments[125]. - The auditor evaluates the appropriateness of accounting policies and the reasonableness of accounting estimates made by the directors[187]. Employee Relations and Corporate Responsibility - The Group emphasizes the importance of relationships with employees, customers, and suppliers for sustainable development[135]. - The Group is committed to providing a fair and safe workplace, promoting diversity, and offering competitive remuneration packages based on performance[135].