Financial Performance - The company reported a total revenue of approximately HKD 3,824,300,000 for the fiscal year 2024, representing a year-on-year increase of 6.1%[21]. - The EBITDA for the fiscal year 2024 was HKD 314,938,000, showing an improvement compared to the previous year's HKD 239,379,000[7]. - The net profit attributable to ordinary shareholders for the fiscal year 2024 was approximately HKD 28,200,000, a significant recovery from a net loss of HKD 131,089,000 in 2023[21]. - The gross profit margin for the fiscal year 2024 was reported at 11.0%, an increase from 8.2% in 2023[8]. - The group's overall revenue increased by approximately 6.1% year-on-year to HKD 3,824,300,000, with gross profit rising by about 43.1% to approximately HKD 422,400,000[31]. - The net profit attributable to ordinary shareholders was HKD 28,200,000, a significant turnaround from a net loss of HKD 132,900,000 in the previous year[31]. - The gross profit rose by approximately 43.1% to about HKD 422,400,000, with a gross profit margin increasing to approximately 11.0% from 8.2% in 2023[38]. - The company reported a significant reduction in financing costs to HKD 57,550,000 in 2024 from HKD 104,734,000 in 2023[182]. - The company reported a profit of HKD 28,155,000 for the year, compared to a loss of HKD 132,908,000 in the previous year[186]. - Total comprehensive income for the year amounted to HKD 70,160,000, compared to a total comprehensive loss of HKD 257,710,000 in the previous year[186]. Dividends and Shareholder Returns - The company plans to pay a final dividend of HKD 0.7 per share for the fiscal year 2024, compared to no dividend in 2023[22]. - The board proposed a final dividend of HKD 0.007 per ordinary share, compared to no dividend in 2023, pending shareholder approval[47]. - The company proposed a final dividend of HKD 0.7 per share for the current year, compared to no dividend in 2023[129]. Acquisitions and Expansion - The company signed a memorandum of understanding to acquire 100% of Korea Textile & Dyeing Support Services Joint Stock Company for approximately USD 10,800,000, enhancing production capacity in Vietnam[20]. - The group plans to enhance its Southeast Asian manufacturing capacity by acquiring Korea Textile & Dyeing Support Services Joint Stock Company for a total cash consideration of approximately HKD 83,892,000[33]. - The acquisition of KTD will allow the group to utilize existing infrastructure without the need for new land and construction investments, rapidly increasing its manufacturing capacity in Vietnam[33]. - The group recorded a gain of approximately HKD 32,598,000 from the sale of a subsidiary in Vietnam, with the proceeds allocated for the acquisition of KTD and integration of operations[34]. - The group aims to strengthen its production triangle of "China + Vietnam + Cambodia" to address geopolitical uncertainties and enhance customer retention[24]. Debt and Financial Position - The company has reduced its debt levels over the past two years, minimizing borrowing and financing costs[21]. - The company’s asset-liability ratio improved to 37.3% in 2024, down from 42.3% in 2023, indicating a stronger balance sheet[8]. - The total bank borrowings amounted to approximately HKD 886,900,000, a decrease from HKD 1,261,500,000 in 2023, with a net debt to equity ratio of approximately 37.3%[44]. - Non-current liabilities decreased from HKD 396,169,000 to HKD 228,161,000, a reduction of approximately 42.5%[185]. Operational Efficiency and Strategy - The company is strategically expanding its operations in Southeast Asia to capitalize on market conditions and improve operational efficiency[20]. - The company is focusing on integrating newly acquired factories in Vietnam to further increase production capacity and expand its range of value-added products and services[24]. - The company aims to explore potential investment opportunities in Southeast Asia to mitigate geopolitical risks and reduce operational costs[36]. Governance and Compliance - The company has complied with listing rules regarding independent non-executive directors, with three such directors making up at least one-third of the board[71]. - The chairman and CEO roles are separated, ensuring distinct leadership and management responsibilities[72]. - The company has established a remuneration committee to review and recommend adjustments to executive directors' remuneration[75]. - The board consists of 50.0% executive directors, 12.5% non-executive directors, and 37.5% independent non-executive directors, exceeding the requirement of at least one-third independent directors[81]. - The company has achieved its gender diversity target with 25% of board members being female, totaling 2 out of 8 directors[81]. Risk Management and Internal Controls - The company has adopted a dividend policy that considers financial performance, cash flow, and future business needs, with no predetermined dividend rate[98]. - The risk management system is designed to provide reasonable assurance against significant misstatements or losses, with ongoing reviews conducted by the board[96][97]. - The board is responsible for maintaining an effective internal control system to safeguard shareholder investments and company assets[94]. - The internal audit department reviews the effectiveness of the internal control system and risk management procedures, with no significant failures reported in the current year[94][97]. Environmental, Social, and Governance (ESG) - The board regularly reviews the company's environmental, social, and governance (ESG) strategies and reports[107]. - The company has implemented a whistleblowing policy to maintain high levels of transparency and accountability[105]. - A zero-tolerance policy towards bribery and corruption is enforced, ensuring business integrity and fairness[106]. - The company has adopted strict environmental protection measures to comply with current environmental laws and regulations[122]. - There were no violations of environmental regulations that significantly impacted the company's development and performance during the fiscal year[123]. Employee Relations and Workforce - The number of employees in China decreased to 3,638 from 3,806 in 2023, while employees in Cambodia increased to 3,356 from 2,734[53]. - As of December 31, 2024, approximately 53% of the overall employee team, including senior management, are female, reflecting the company's commitment to gender diversity[87]. - Maintaining good relationships with employees, customers, and suppliers is considered a key factor for the company's stable development[126]. Financial Reporting and Audit - The audit opinion confirms that the consolidated financial statements present a true and fair view of the group's financial position and performance in accordance with Hong Kong Financial Reporting Standards[165]. - The audit committee assists the board in overseeing the financial reporting process, ensuring compliance with relevant regulations[175]. - The independent auditor's report does not cover other information included in the annual report, focusing solely on the consolidated financial statements[173].

Financial Performance - Revenue increased by 6.1% to HKD 3,824,300,000 compared to HKD 3,604,400,000 in the previous year[2] - Gross profit rose by 43.1% to HKD 422,400,000 from HKD 295,200,000 in the previous year[2] - Net profit attributable to ordinary shareholders was HKD 28,200,000, a significant recovery from a net loss of HKD 132,900,000 in the previous year[2] - Proposed final dividend of HKD 0.007 per share, compared to no dividend in the previous year[2] - Basic and diluted earnings per share improved to HKD 0.032 from a loss of HKD 0.153 in the previous year[3] - Total comprehensive income for the year amounted to HKD 70,500,000, compared to a loss of HKD 259,573,000 in the previous year[4] - The group reported a profit before tax of HKD 41,469,000 for the fiscal year ending December 31, 2024, compared to a loss before tax of HKD 124,990,000 for the fiscal year ending December 31, 2023[14][15] - The group reported a net profit of HKD 28,495,000 for the fiscal year ending December 31, 2024, compared to a net loss of HKD 134,771,000 for the fiscal year ending December 31, 2023[14][15] - Total revenue for 2024 reached HKD 3,824,324,000, an increase of 6.1% from HKD 3,604,357,000 in 2023[16] Assets and Liabilities - Non-current assets decreased to HKD 1,266,432,000 from HKD 1,282,225,000 in the previous year[5] - Current assets decreased to HKD 2,169,299,000 from HKD 2,497,861,000 in the previous year[5] - Total liabilities decreased to HKD 1,485,664,000 from HKD 1,733,466,000 in the previous year[6] - Net asset value increased to HKD 1,721,906,000 from HKD 1,650,451,000 in the previous year[6] - The total assets as of December 31, 2024, were HKD 3,435,731,000, while total liabilities were HKD 1,713,825,000[14] - The group's total liabilities as of December 31, 2023, were HKD 2,129,635,000, with total assets of HKD 3,780,086,000[15] - The company's accounts receivable increased to HKD 344,948,000 in 2024 from HKD 326,263,000 in 2023, with a net value of HKD 338,683,000 after impairment[28] - The total accounts payable decreased to HKD 607,894,000 in 2024 from HKD 678,829,000 in 2023, with accounts payable due within three months amounting to HKD 513,855,000[29] Revenue Segmentation - The total revenue for the fiscal year ending December 31, 2024, was HKD 3,824,324,000, with external customer revenue from the fabric segment at HKD 3,038,178,000 and the garment segment at HKD 786,146,000[14] - Revenue from the fabric segment to a single major customer amounted to HKD 681,762,000 in 2024, up from HKD 517,301,000 in 2023, representing a growth of 31.7%[18] - Revenue from the production and sale of knitted fabrics and related processing services was HKD 3,038,178,000 in 2024, compared to HKD 2,944,793,000 in 2023, reflecting an increase of 3.2%[19] - Revenue from the Singapore market increased significantly to HKD 437,161,000 in 2024, up from HKD 257,168,000 in 2023, representing a growth of 70%[16] - The company’s revenue from the Korean market was HKD 1,620,700,000 in 2024, an increase of 13.3% from HKD 1,430,276,000 in 2023[16] - The textile business accounted for approximately 79.4% of total revenue, while the apparel business contributed about 20.6%[33] Operational Developments - The company plans to expand its market presence and invest in new product development to drive future growth[19] - The group’s textile and garment orders significantly increased, with the production schedule for Q1 2025 fully booked[37] - The group anticipates that its integrated facilities in Vietnam will contribute no less than 25% to its total textile output in the long term[37] - The company has established a strategic partnership with TPT in Vietnam to enhance production capabilities and meet the growing demand for diversified supply chain solutions[33] Capital Expenditures and Investments - Capital expenditures for the fiscal year ending December 31, 2024, amounted to HKD 91,637,000, compared to HKD 170,408,000 for the fiscal year ending December 31, 2023[14][15] - Capital expenditures for the year were approximately HKD 91,600,000, a decrease from HKD 170,400,000 in 2023, with 83.2% allocated for purchasing plants and machinery[52] - The group has agreed to acquire 100% of KTD for a cash consideration of USD 4,347,894 (approximately HKD 33,913,000) and USD 6,407,597 (approximately HKD 49,979,000) for settling debts, with the acquisition pending completion[59] - The company plans to acquire 100% of Korea Textile & Dyeing Support Joint Stock Company for a total cash consideration of approximately HKD 83,892,000, enhancing its manufacturing capacity in Southeast Asia[34] - The company recorded a gain of approximately HKD 32,598,000 from the sale of a subsidiary in Vietnam, which will be used to fund the acquisition of KTD and integrate its operations[35] Financial Management - Financing costs decreased by approximately 45.1% to about HKD 57,600,000, down from HKD 104,700,000 in 2023, primarily due to a reduction in average bank borrowings[40] - The group maintained a prudent treasury policy to mitigate financial risks related to interest and exchange rate fluctuations[60] - The group did not engage in any equity fundraising activities during the year[61] - There were no significant investments held that accounted for 5% or more of the group's total assets as of December 31, 2024[57] Corporate Governance - The board proposed a final dividend of HKD 0.007 per ordinary share, compared to no dividend in 2023, pending shareholder approval[49] - The board expresses gratitude to management, employees, business partners, customers, and shareholders for their continued support throughout the year[71] - The board of directors includes executive directors Mr. Dai Jin Chun, Mr. Dai Jin Wen, Ms. Zhang Su Yun, and Ms. Huang Shao Yu, along with non-executive and independent directors[72] - The announcement is made under the authority of the chairman, Mr. Dai Jin Chun, on March 31, 2025[73] Employment and Workforce - The group employed 3,638 staff in China as of December 31, 2024, a decrease from 3,806 in 2023, while employment in Cambodia increased to 3,356 from 2,734[54] Market Performance - Sales from the five major regions (South Korea, Mainland China, Singapore, Hong Kong, and Taiwan) accounted for approximately 82.3% of total sales, up from 77.1% in 2023, with South Korea representing 42.4% of total sales[55]

Financial Performance - The group's overall revenue increased by approximately 5.2% year-on-year to HKD 1,810,900,000, with gross profit rising by about 28.6% to approximately HKD 197,900,000[5]. - The group recorded a profit attributable to ordinary shareholders of HKD 3,800,000, a significant improvement from a loss of HKD 24,700,000 in the same period last year[5]. - Basic earnings per share for the period were approximately HKD 0.004, compared to a basic loss per share of HKD 0.028 for the same period last year[5]. - Total sales revenue for the period was approximately HKD 1,810,900,000, representing an increase of about 5.2% compared to HKD 1,721,400,000 for the same period last year[9]. - Gross profit for the period was approximately HKD 197,900,000, an increase of about 28.6% from HKD 153,900,000, with the gross profit margin rising to approximately 10.9% from 8.9%[10]. - The total comprehensive income for the period was HKD 3,970,000, compared to a total comprehensive loss of HKD 157,211,000 in the previous year[27]. - The company reported a profit of HKD 3,970,000 for the six months ended June 30, 2024, a turnaround from a loss of HKD 25,237,000 in the previous year[26]. - The company reported a net profit of HKD 3,815,000 for the six months ended June 30, 2024, compared to a net loss of HKD 24,726,000 for the same period in 2023[48]. Revenue Breakdown - The textile and garment businesses accounted for approximately 81.6% and 18.4% of total revenue, respectively[5]. - Revenue from fabric sales was HKD 1,477,142,000, while garment sales generated HKD 333,760,000 for the six months ended June 30, 2024[41]. - Revenue from major customer A was HKD 319,916,000 for the six months ended June 30, 2024, up from HKD 227,247,000 in the same period of 2023[37]. - Revenue from external customers in South Korea was HKD 795,036,000 for the six months ended June 30, 2024, compared to HKD 677,760,000 in the same period of 2023, reflecting a growth of 17.4%[37]. Expenses and Costs - Selling and distribution expenses increased to approximately HKD 52,600,000 from HKD 46,700,000, consistent with the increase in sales volume[11]. - Administrative expenses decreased to approximately HKD 138,600,000 from HKD 157,300,000, due to a reduction in employee numbers following a restructuring[12]. - Financing costs for the period were approximately HKD 31,800,000, down from HKD 45,900,000, attributed to a decrease in total bank borrowings[13]. - The cost of sales and services for the six months ended June 30, 2024, was HKD 1,613,029,000, compared to HKD 1,567,512,000 in 2023, indicating an increase in operational costs[44]. Assets and Liabilities - As of June 30, 2024, the group's current assets net value was approximately HKD 806,900,000, up from HKD 764,400,000 at the end of the previous year[15]. - The total assets as of June 30, 2024, amounted to HKD 3,333,759,000, compared to HKD 3,780,086,000 as of December 31, 2023[38]. - The total liabilities as of June 30, 2024, were HKD 1,679,338,000, a decrease from HKD 2,129,635,000 as of December 31, 2023[38]. - The total liabilities decreased from HKD 3,729,635 thousand to HKD 3,683,866 thousand, a decrease of about 1.2%[29]. - Cash and cash equivalents significantly decreased to HKD 418,955 thousand from HKD 1,327,164 thousand, a decline of approximately 68.4%[30]. Production and Capacity - The group has strengthened its offshore production network in Southeast Asia, signing a framework cooperation agreement with The HOA Textile And Garment Company Limited in Vietnam to expand production capacity[6]. - The group aims to continue investing in capacity expansion and technological advancements to better serve customers and enhance competitiveness[6]. - The company entered into a 10-year lease agreement for a fabric knitting factory in Vietnam to enhance production capacity[18]. Market Outlook - The group maintains a cautious optimism for the second half of 2024, with signs of economic improvement and a decrease in the U.S. inflation rate to 3% as of July 2024[7]. - The global economic growth forecast has been adjusted from 2.4% to 2.6%, indicating increasing confidence in economic resilience[7]. - The group aims to leverage its flexible business model and production capacity to capitalize on market opportunities during economic instability[8]. Shareholder Information - Major shareholders include Exceed Standard Limited holding 332,600,000 shares (38.23%) and Power Strategy Limited holding 96,000,000 shares (11.04%) as of June 30, 2024[24]. - The company did not declare any interim dividend for the six months ended June 30, 2023[16]. - The company did not declare any interim dividends for the period ended June 30, 2024, consistent with the previous year[26]. Financial Management - The company has adopted a prudent treasury policy to mitigate financial risks related to interest and exchange rate fluctuations[18]. - The company did not engage in any purchase, redemption, or sale of its listed securities during the reporting period[24]. - No equity fundraising activities or stock sales were conducted during the period[18].

Financial Performance - The company's revenue for the six months ended June 30, 2024, was HKD 1,810,902,000, an increase of 5.2% compared to HKD 1,721,370,000 for the same period in 2023[1] - Gross profit for the same period was HKD 197,873,000, representing a gross margin of approximately 10.9%[1] - The company reported a profit before tax of HKD 4,204,000, a significant improvement from a loss of HKD 13,608,000 in the previous year[2] - The net profit for the period was HKD 3,970,000, compared to a net loss of HKD 25,237,000 in the same period last year[2] - Basic earnings per share for ordinary shareholders was HKD 0.4, recovering from a loss of HKD 2.8 per share in the previous year[3] - The group experienced a net profit of HKD 3,970 for the six months ending June 30, 2024, compared to a loss of HKD 25,237 in the previous period[13] - The company reported a net profit attributable to ordinary shareholders of approximately HKD 3,800,000, a turnaround from a net loss of HKD 24,700,000 in the same period last year[41] Assets and Liabilities - Total assets as of June 30, 2024, were HKD 3,339,779,000, down from HKD 3,780,086,000 as of December 31, 2023[5] - Current assets decreased to HKD 2,116,755,000 from HKD 2,497,861,000, indicating a reduction in liquidity[5] - The company's total liabilities decreased to HKD 1,685,000,000 from HKD 2,129,000,000, reflecting improved financial stability[6] - The group’s total liabilities were HKD 1,679,338, with segment liabilities for fabric, garment, and others being HKD 1,591,903, HKD 80,050, and HKD 3,501 respectively[12] - As of June 30, 2024, the group's net current assets amounted to approximately HKD 806.9 million, an increase from HKD 764.4 million as of December 31, 2023[42] - The group's cash and cash equivalents were approximately HKD 419 million as of June 30, 2024, down from HKD 916.1 million as of December 31, 2023[42] - Total bank borrowings were approximately HKD 922.8 million as of June 30, 2024, a decrease from HKD 1,261.5 million as of December 31, 2023[42] Revenue Segmentation - Revenue from external customers for the fabric segment reached HKD 1,477,142, while the garment segment generated HKD 333,760, totaling HKD 1,810,902 for the six months ending June 30, 2024[11] - The total segment profit for the fabric division was HKD 30,858, and for the garment division, it was HKD 212, resulting in a combined segment profit of HKD 31,267[11] - Revenue from external customers in South Korea increased to HKD 795,036, up from HKD 677,760 in the previous year, reflecting a growth of approximately 17.4%[14] - The group's revenue from external customers in Vietnam rose to HKD 62,666, compared to HKD 36,843 in the previous year, marking a significant increase of approximately 69.9%[14] - Revenue from major customers accounted for over 10% of total group revenue, with customer A contributing HKD 319,916,000 for the six months ended June 30, 2024, compared to HKD 227,247,000 for the same period in 2023, representing a growth of 40.8%[15] Expenses and Costs - The cost of sales and services for the group was HKD 1,613,029,000 for the six months ended June 30, 2024, compared to HKD 1,567,512,000 in the same period of 2023, indicating an increase of 2.9%[19] - Research and development costs significantly decreased to HKD 26,011,000 for the six months ended June 30, 2024, from HKD 57,838,000 in the same period of 2023, a reduction of 55.0%[19] - Selling and distribution expenses increased to approximately HKD 52,600,000, up from HKD 46,700,000 in the same period last year, consistent with the increase in sales volume[36] - Administrative expenses decreased to approximately HKD 138,600,000 from HKD 157,300,000 in the same period last year, due to a reduction in employee numbers following a restructuring[37] - Financing costs for the period were approximately HKD 31,800,000, down from HKD 45,900,000 in the same period last year, primarily due to a reduction in total bank borrowings[39] Corporate Governance - The company emphasizes good corporate governance as essential for effective management and enhancing shareholder value[57] - The Audit Committee consists of three independent non-executive directors responsible for reviewing financial reports and risk management[58] - The board includes both executive and independent non-executive directors, ensuring a diverse governance structure[62] Future Outlook and Strategy - The company is focusing on enhancing operational efficiency and exploring new market opportunities to drive future growth[8] - The group plans to continue investing in capacity expansion and technological advancements to better serve customers[30] - The group anticipates a cautiously optimistic outlook for the second half of 2024, despite ongoing geopolitical tensions and inflationary pressures[31] - The demand for higher-margin orders has improved profitability, although product prices remain under pressure due to intense competition and weak global demand[28] Employee and Operational Insights - The group employed 3,786 employees in China and 3,431 employees in Cambodia as of June 30, 2024[54] - The company is focusing on expanding its production capabilities in Vietnam to enhance its multi-location production solutions[32]

（於開曼群島註冊成立之有限公司） 股份代號: 02307 2023 2023 年 報 C017167 Stock Code: 02307 (Incorporated in the Cayman Islands with limited liability) Annual Report Annual Report 2023 年報 目錄 | 2 | 公司資料 | | --- | --- | | 3 | 財務摘要及概要 | | 5 | 主席報告 | | 8 | 管理層討論及分析 | | 14 | 企業管治報告 | | 25 | 董事及高級管理層履歷 | | 29 | 董事會報告 | | 37 | 獨立核數師報告 | | | 經審核財務報表 | | 42 | 綜合損益表 | | 43 | 綜合全面收益表 | | 44 | 綜合財務狀況表 | | 46 | 綜合權益變動表 | | 48 | 綜合現金流量表 | | 50 | 財務報表附註 | | 124 | 五年財務概要 | 公司資料 董事會 執行董事 戴錦春先生 （主席） 戴錦文先生 （行政總裁） 張素雲女士 （營運總裁） 黃少玉女士 李向民先生 （財務總裁） 獨立非 ...

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佈之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公佈全部或任何部 分內容而產生或因倚賴該等內容而引致之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：02307） 截至二零二三年十二月三十一日止年度之 全年業績公佈 財務摘要 – 1 – • 收益減少12.2%至3,604,400,000港元（二零二二年：4,106,200,000港元） • 毛利減少16.7%至295,200,000港元（二零二二年：354,300,000港元） • 本公司普通股本持有人應佔年內虧損淨額為132,900,000港元（二零二二 年：58,000,000港元） • 並無擬派末期股息（二零二二年：無） 錦興國際控股有限公司（「本公司」）董事（「董事」）會（「董事會」）謹此公佈本公司及 其附屬公司（統稱「本集團」）截至二零二三年十二月三十一日止年度（「本年度」）之 全年業績，連同截至二零二二年十二月三十一日止年度之比較數字如下： 綜合損益表 截至二零二三年十二月三十一日止年度 | | | 二零二三年 | ...

Financial Performance - For the six months ended June 30, 2023, the company's revenue was approximately HKD 1,721,400,000, a decrease of 24.5% year-on-year[8]. - Gross profit for the same period decreased by 33.5% to approximately HKD 153,900,000[8]. - The company reported a loss attributable to ordinary shareholders of approximately HKD 24,700,000, including a one-time tax payment of approximately HKD 11,500,000 due to tax adjustments in mainland China[8]. - Basic loss per share for the period was HKD 0.028, compared to a basic earnings per share of HKD 0.034 for the same period in 2022[8]. - Total sales revenue for the period was approximately HKD 1,721,400,000, a decrease of about 24.5% compared to HKD 2,281,100,000 for the six months ended June 30, 2022[15]. - Gross profit for the period was approximately HKD 153,900,000, a decrease of about 33.5% from HKD 231,400,000 for the six months ended June 30, 2022, with a gross margin of approximately 8.9%[17]. - The net loss attributable to ordinary shareholders was approximately HKD 24,700,000, compared to a net profit of HKD 29,500,000 for the six months ended June 30, 2022[23]. - The company reported a loss before tax of HKD 13,608,000, compared to a profit of HKD 38,535,000 in the previous year[60]. - The net loss for the period was HKD 25,237,000, a significant decline from a profit of HKD 32,017,000 in the prior year[60]. - Total comprehensive expenses for the period amounted to HKD 157,211,000, an increase from HKD 122,428,000 in the previous year, primarily driven by foreign exchange differences[65]. Revenue Breakdown - The textile and garment segments contributed approximately 84.4% and 15.6% to total revenue, respectively[8]. - Total revenue for the six months ended June 30, 2023, was HKD 1,721,370,000, with external customer revenue from the fabric segment at HKD 1,452,181,000 and from the garment segment at HKD 269,189,000[77]. - Revenue from the fabric segment was HKD 1,452,181, down 23.5% from HKD 1,899,981 in the previous year, while the garment segment generated HKD 269,189, a decline of 29.3% from HKD 381,154[84]. - Major customer A contributed HKD 227,247, representing over 10% of the group's total revenue for the six months ended June 30, 2023[80]. Cash and Liquidity - Cash and cash equivalents increased by 23.5% to approximately HKD 1,327,200,000 as of June 30, 2023[11]. - The group’s cash and cash equivalents were approximately HKD 1,327,200,000 as of June 30, 2023, compared to HKD 1,074,600,000 as of December 31, 2022[25]. - The company reported a net increase in cash and cash equivalents of HKD 265,219,000 for the period, compared to HKD 18,856,000 in the previous year[67]. - The net cash flow from operating activities for the six months was HKD 62,142,000, compared to HKD 46,995,000 in the prior year, showing an improvement of about 32.1%[67]. Assets and Liabilities - As of June 30, 2023, the group's current assets were approximately HKD 1,149,400,000, down from HKD 1,472,300,000 as of December 31, 2022[25]. - Non-current assets decreased to HKD 1,280,911,000 as of June 30, 2023, down from HKD 1,449,613,000 at the end of 2022, indicating a reduction in asset value[63]. - Current liabilities increased significantly to HKD 1,850,779,000 from HKD 1,152,108,000, indicating a rise of approximately 60.7%[64]. - The company’s total liabilities increased to HKD 2,520,579,000 from HKD 2,156,350,000, indicating a rise of approximately 16.9%[64]. Financing and Investments - The company secured a green financing loan of HKD 200,000,000 for establishing an eco-friendly textile production base in Vietnam[11]. - The group plans to invest approximately HKD 22,600,000 in a strategic acquisition of land in Vietnam to expand production capabilities[14]. - The group invested approximately HKD 38,800,000 in capital expenditures during the period, with about 98.2% allocated for the purchase of factories and machinery[31]. - The group completed the acquisition of Great Garment Vietnam Company Limited for a cash consideration of VND 75,200,860,000 (approximately HKD 22,582,800), making it a wholly-owned subsidiary[35]. Corporate Governance and Risk Management - The audit committee consists of three independent non-executive directors responsible for reviewing and supervising the group's financial reporting and risk management[56]. - The company is committed to maintaining good corporate governance practices to enhance shareholder value[55]. - The group has adopted a prudent treasury policy to mitigate financial risks related to interest and exchange rate fluctuations[36]. Market Outlook - The company experienced an encouraging rebound in orders entering the third quarter, with retailers preparing for the autumn and winter seasons[12]. - The group maintains a cautious optimism for the second half of the year, focusing on operational excellence and sustainable business growth[14]. - As of July 2023, the U.S. inflation rate was 3.2%, showing signs of potential stability in the economic environment[12].

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佈之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公佈全部或任何部 分內容而產生或因倚賴該等內容而引致之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：02307） 截至二零二三年六月三十日止六個月之 中期業績公佈 錦興國際控股有限公司（「本公司」）董事（「董事」）會（「董事會」）謹此公佈本公司及 其附屬公司（統稱「本集團」）截至二零二三年六月三十日止六個月（「期間」）之未審 核簡明綜合財務業績，連同二零二二年同期之比較數字如下： 簡明綜合損益表 截至二零二三年六月三十日止六個月 截至 截至 ...

Financial Performance - The overall revenue for the year 2022 decreased by 6.5% to approximately HKD 4,106,200,000 compared to the previous year[22] - The company recorded a net loss attributable to ordinary shareholders of HKD 58,000,000 for 2022[22] - The EBITDA for 2022 was HKD 300,078,000, reflecting a decline from previous years[8] - The gross profit margin for 2022 was 8.6%, down from 12.7% in 2021[9] - The net profit margin for 2022 was -1.3%, compared to a positive margin of 1.1% in 2021[9] - Gross profit for 2022 fell by approximately 36.6% to about HKD 354,300,000, resulting in a gross margin decline from approximately 12.7% in 2021 to about 8.6% in 2022[32] - The company reported a loss attributable to ordinary shareholders of approximately HKD 58,000,000 for 2022, compared to a profit of approximately HKD 46,000,000 in 2021[32] - Garment sales increased by approximately 36.0% to about HKD 813,200,000, marking a five-year high, while fabric sales decreased by approximately 13.2% to about HKD 3,293,000,000[40] - Financing costs increased by approximately 31.4% to about HKD 58,600,000 due to rising average bank borrowing rates[42] Corporate Actions and Strategy - The company undertook a corporate restructuring in Q4 2022, incurring a one-time compensation expense of approximately HKD 15,000,000[22] - The company did not recommend a final dividend for the year 2022[22] - The company is focusing on expanding its operations in Southeast Asia, particularly through the establishment of a comprehensive textile and garment production base in Vietnam and Cambodia[23] - The company plans to implement strict supply chain management strategies to prevent overproduction and ensure timely delivery[24] - The company is committed to enhancing product quality and introducing innovative production technologies to maintain market competitiveness[27] - The company anticipates improved consumer sentiment in Western countries due to easing inflation and expected reductions in Federal Reserve tightening policies[23] - The company is adapting its product mix to cater to more mass-market orders to stabilize sales and maximize production efficiency[33] Financial Position and Assets - As of December 31, 2022, the company's current assets net value was approximately HKD 1,472,300,000, down from HKD 1,790,600,000 the previous year[48] - The company's cash and cash equivalents amounted to approximately HKD 1,074,600,000, an increase from HKD 863,400,000 in the previous year[48] - The net debt to equity ratio was approximately 35.9%, a decrease from 48.8% the previous year, indicating improved financial stability[48] - As of December 31, 2022, total bank financing amounted to approximately HKD 5,225,600,000, a decrease from HKD 5,559,800,000 in the previous year, with utilized financing at HKD 1,739,000,000 compared to HKD 2,299,600,000[50] Governance and Board Structure - The board of directors held four meetings and one annual general meeting, with all directors attending 100% of the meetings[75] - The company has complied with listing rules regarding independent non-executive directors, with three independent directors making up at least one-third of the board[78] - The chairman and CEO roles are separated, with the chairman focusing on overall strategy and the CEO managing daily operations[79] - The board consists of members with balanced skills and diverse expertise to manage and supervise the group's business[73] - The board consists of 8 members, with 2 female directors, representing 25% female and 75% male[88] - 62.5% of the board members are executive directors, while 37.5% are independent non-executive directors, exceeding the requirement of at least one-third[90] Risk Management and Compliance - The company has established an effective internal control system to safeguard shareholder investments and company assets, with no significant failures reported in financial, operational, or compliance monitoring during the review year[103] - The risk management system is deemed effective and sufficient, with no major risk management issues identified that adversely affect the company's financial position or operations[107] - The audit committee is responsible for reviewing the effectiveness of the audit process and the company's compliance with applicable codes[102] - The company has mechanisms in place to ensure independent viewpoints from directors, including annual independence confirmations[89] Employee and Stakeholder Relations - The company emphasizes maintaining strong relationships with employees, customers, and suppliers as a key factor for stable development[141] - Competitive compensation and career development opportunities are provided to employees, along with a safe and healthy working environment[142] - The company ensures quality products and carefully addresses customer needs through effective communication and diverse solutions[142] - Long-term relationships with suppliers are established to maintain a stable supply of quality materials, with regular quality control measures in place[142] Environmental, Social, and Governance (ESG) - The board regularly reviews the company's environmental, social, and governance (ESG) performance and risks[118] - The company has adopted strict environmental protection measures to comply with current environmental laws and regulations[137] - There were no violations of environmental regulations that significantly impacted the company's development and performance during the fiscal year[138] - The company has implemented a whistleblowing policy to maintain high levels of transparency and accountability[116] - A zero-tolerance policy towards bribery and corruption is enforced, ensuring business integrity and fairness[117] Shareholder Information - The company did not recommend the payment of a final dividend for the year, compared to a dividend of HKD 0.013 per share in the previous year[145] - Total distributable reserves as of December 31, 2022, amounted to HKD 1,048,359,000, which includes share premium and capital reserves totaling HKD 848,112,000[150] - The company has confirmed that at least 25% of its issued share capital is held by the public as of the report date[185]

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佈之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公佈全部或任何部 分內容而產生或因倚賴該等內容而引致之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：02307） 截至二零二二年十二月三十一日止年度之 全年業績公佈 財務摘要 • 收益減少6.5%至4,106,200,000港元（二零二一年：4,389,400,000港元） • 毛利減少36.6%至354,300,000港元（二零二一年：558,900,000港元） • 本公司普通股本持有人應佔年內虧損淨額為58,000,000港元（二零二一年： 純利46,000,000港元） ...