FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 蜆壳電業有限公司 (於開曼群島註冊成立之有限公司) 呈交日期: 2025年8月4日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02381 | 說明 | 普通股 | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 5,000,000,000 | HKD | | 0.01 HKD | | 50,000,000 | | 增加 / 減少 (-) | | | 0 | | | HKD | | 0 | | 本月底結存 | | | 5,000,000,000 | HKD | | 0.01 HKD | | 50,000,000 | ...

Financial Performance - For the fiscal year ending December 31, 2024, the group's operating revenue was HKD 257.3 million, an increase of HKD 24.4 million or 10.5% compared to HKD 232.9 million for the fiscal year ending December 31, 2023[12]. - The group's gross profit for the fiscal year ending December 31, 2024, was HKD 71.1 million, up HKD 7.4 million from HKD 63.7 million in the previous year, resulting in a gross margin of 27.6%, an increase of 0.3 percentage points from 27.3%[12]. - The profit attributable to the company's owners for the fiscal year ending December 31, 2024, was HKD 26.4 million, an increase of HKD 5.6 million or 26.9% from HKD 20.8 million in the previous year[12]. - Total revenue for the year ended December 31, 2024, was HKD 257,278,000, an increase of 10.5% from HKD 232,920,000 in 2023[160]. - Gross profit for 2024 was HKD 71,075,000, representing a gross margin of 27.6%, compared to HKD 63,692,000 in 2023[160]. - Profit before tax increased to HKD 31,076,000 in 2024, up 27.0% from HKD 24,479,000 in 2023[160]. - Net profit attributable to owners of the company for 2024 was HKD 26,360,000, a rise of 26.5% from HKD 20,773,000 in 2023[160]. - Basic and diluted earnings per share for 2024 were HKD 1.318, compared to HKD 1.039 in 2023, reflecting a 26.9% increase[160]. - Total comprehensive income for the year was HKD 26,320,000, up from HKD 20,541,000 in 2023[160]. Liquidity and Financial Resources - The group has sufficient liquidity and financial resources, with total cash and bank balances amounting to HKD 90.4 million as of December 31, 2024, compared to HKD 82.2 million in the previous year[13]. - The current ratio as of December 31, 2024, was 2.98 times, down from 3.20 times in the previous year[14]. - The company maintains a zero debt ratio as of December 31, 2024, due to having a net cash balance at year-end[16]. - Cash and bank balances rose from HKD 82,158,000 in 2023 to HKD 90,431,000 in 2024, an increase of 10.5%[163]. Capital Expenditures and Investments - Capital expenditures for the fiscal year ending December 31, 2024, amounted to HKD 8.5 million, an increase from HKD 5.4 million in the previous year[17]. - The group has not made any significant investments or acquisitions during the fiscal year ending December 31, 2024[20]. - The net proceeds from the share issuance amount to approximately HKD 42.5 million, with a revised allocation of HKD 34.0 million for efficiency improvements, manufacturing capacity expansion, and new product development[24]. Corporate Governance - The company has adopted the Corporate Governance Code as its governance standard, ensuring compliance with applicable provisions and principles[37]. - The board consists of three executive directors, two non-executive directors, and three independent non-executive directors, meeting the requirements of the listing rules[42]. - The company emphasizes high ethical standards and sustainable development as core elements of its corporate culture[38]. - The board is responsible for overall leadership and strategic decision-making, with three committees established for oversight[40]. - The company has a commitment to enhancing board diversity, currently comprising one female and seven male directors[42]. - The company has adopted a board diversity policy, emphasizing the importance of diversity in maintaining competitive advantage[64]. - The company is committed to finding suitable female candidates for board positions and providing career development for female employees[64]. - The board has reviewed and discussed the effectiveness of the corporate governance policies during the year[41]. Employee and Operational Information - The total number of employees as of December 31, 2024, was 115, up from 112 in the previous year[22]. - The employee gender ratio as of December 31, 2024, is 1.67 females for every male[44]. - The company provides competitive compensation to attract and retain talented employees, with regular reviews of remuneration packages[103]. - The company has established competitive compensation and benefits for employees, along with regular training support[139]. Shareholder Information - As of December 31, 2024, the company's distributable reserves are approximately HKD 114,676,000, including share premium of about HKD 78,695,000, which may be distributed to shareholders[94]. - The board of directors proposed a final dividend of HKD 0.005 per ordinary share for the year ending December 31, 2024, consistent with the previous year[101]. - The company has adopted a general dividend policy, considering various factors including actual and expected financial performance and future expansion plans when proposing dividends[100]. - Major shareholders with 5% or more of the issued share capital include Shell Holdings with 1,500,000,000 shares (75.00%) and Red Dynasty, also with 1,500,000,000 shares (75.00%)[112]. Risk Management and Compliance - The company maintained a strong focus on internal controls and risk management to ensure the accuracy of financial reporting[154]. - The board has reviewed the effectiveness of the internal control and risk management systems, deeming them sufficient and effective[83]. - The company has complied with all relevant laws and regulations, with no significant non-compliance issues reported for the year ending December 31, 2024[142]. - The company has adopted an anti-corruption policy to limit employees from receiving benefits and a whistleblowing policy for reporting misconduct[85]. Business Operations - The group primarily engages in the manufacturing and sale of power tools and the procurement and sale of fans, with headquarters in Hong Kong and manufacturing operations in China and Vietnam[89]. - The group plans to diversify some production to Vietnam in response to market demand changes and ongoing trade challenges[11]. - There were no significant changes in the nature of the group's main business during the year[89]. Financial Reporting and Standards - The consolidated financial statements for the year ended December 31, 2024, were approved by the board on March 24, 2025[169]. - The financial statements are prepared in accordance with the Hong Kong Financial Reporting Standards and the Hong Kong Companies Ordinance[170]. - The company has adopted revised Hong Kong Financial Reporting Standards effective from January 1, 2024, with no significant impact on financial performance or position[173]. - The company is currently evaluating the potential impact of newly issued and revised Hong Kong Financial Reporting Standards on its financial statements[176].

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Financial Performance - Revenue for the year ended December 31, 2024, increased to HKD 257,278,000, up 10.5% from HKD 232,920,000 in 2023[4] - Gross profit rose to HKD 71,075,000, representing a 11.9% increase compared to HKD 63,692,000 in the previous year[4] - Profit attributable to owners of the company for the year was HKD 26,360,000, a 26.5% increase from HKD 20,773,000 in 2023[4] - Basic and diluted earnings per share increased to HKD 1.318, up from HKD 1.039 in the prior year, reflecting a growth of 26.9%[4] - Pre-tax profit for 2024 was HKD 70,075,000, compared to HKD 61,692,000 in 2023, reflecting a growth of 13.5%[18] - Total tax expenses for 2024 amounted to HKD 4,716,000, an increase from HKD 3,706,000 in 2023, marking a 27.2% rise[20] - The group's gross profit for the fiscal year ending December 31, 2024, was HKD 71.1 million, up HKD 7.4 million from HKD 63.7 million in the previous year, resulting in a gross margin of 27.6%, an increase of 0.3 percentage points from 27.3%[35] - The profit attributable to the company's owners for the fiscal year ending December 31, 2024, was HKD 26.4 million, an increase of HKD 5.6 million or 26.9% from HKD 20.8 million in the previous year[35] Assets and Liabilities - Total assets as of December 31, 2024, amounted to HKD 188,815,000, an increase from HKD 172,428,000 in 2023[6] - Current assets net worth improved to HKD 125,360,000, compared to HKD 118,625,000 in the previous year[6] - Non-current assets increased to HKD 14,327,000, up from HKD 10,903,000 in 2023, indicating a growth of 31.5%[6] - Cash and bank balances rose to HKD 90,431,000, compared to HKD 82,158,000 in the previous year, marking an increase of 10.7%[6] - Trade receivables net amount for 2024 was HKD 67,483,000, up from HKD 62,352,000 in 2023, indicating an 8.5% increase[26] - Trade payables increased to HKD 33,478,000 in 2024 from HKD 22,474,000 in 2023, a significant rise of 48.9%[29] - The company’s inventory cost for the year was HKD 186,203,000, compared to HKD 169,228,000 in the previous year, reflecting a 10.0% increase[18] Market and Growth Strategy - The company plans to continue expanding its market presence and investing in new product development to drive future growth[7] - The company is currently assessing the impact of new accounting standards on its financial statements, particularly regarding the presentation and disclosure of financial performance[17] - The group faced challenges in 2025 due to tariffs and trade wars, leading to a cautious outlook for future growth[34] - The company has diversified some production to Vietnam in response to market demands[34] Corporate Governance - The board will continue to review and monitor the company's corporate governance practices to maintain a high level of governance[53] - The company has adopted the standard code of conduct for securities trading by directors, confirming compliance by all directors for the year ending December 31, 2024[55] - The audit committee, consisting of two independent non-executive directors and one non-executive director, has reviewed the group's annual performance and financial statements without disagreement[56] Dividends and Shareholder Information - Proposed final dividend per share for 2024 remains at HKD 0.005, totaling HKD 10,000,000, consistent with 2023[22] - The proposed final dividend for the year ending December 31, 2024, is HKD 0.005 per ordinary share, unchanged from 2023[59] - The company will suspend share transfer registration from June 6, 2025, to June 13, 2025, to determine shareholder eligibility for the upcoming annual general meeting[61] - The annual general meeting is scheduled for June 13, 2025, at 11:30 AM in Hong Kong[62] Employee Information - The total number of employees as of December 31, 2024, was 115, an increase from 112 in 2023[45] - Capital expenditures for the fiscal year ending December 31, 2024, amounted to HKD 8.5 million, an increase from HKD 5.4 million in 2023[41]

Financial Performance - Revenue for the six months ended June 30, 2024, was HKD 123,920,000, representing an increase of 4.4% compared to HKD 118,853,000 for the same period in 2023[4] - Gross profit for the same period was HKD 34,676,000, up from HKD 33,268,000, indicating a growth of 4.2%[4] - Profit attributable to owners of the company for the six months was HKD 12,960,000, slightly down from HKD 13,014,000, reflecting a decrease of 0.4%[4] - Total comprehensive income attributable to owners for the period was HKD 12,853,000, compared to HKD 12,491,000 in the previous year, showing an increase of 2.9%[5] - Basic and diluted earnings per share for the period were HKD 0.648, a slight decrease from HKD 0.651 in the previous year[5] - The company’s operating profit before tax for the six months ended June 30, 2024, was HKD 15,417,000, a slight decrease from HKD 15,898,000 in the previous period[9] Assets and Liabilities - Total assets as of June 30, 2024, were HKD 187,981,000, an increase from HKD 172,428,000 as of December 31, 2023, representing a growth of 9.0%[6] - Current assets increased to HKD 90,317,000 from HKD 82,158,000, marking a rise of 9.5%[6] - The company reported a net asset value of HKD 142,114,000 as of June 30, 2024, compared to HKD 129,261,000 at the end of the previous year, indicating an increase of 9.9%[6] - The company’s total liabilities remained stable, with current liabilities at HKD 54,017,000, slightly up from HKD 53,803,000[6] - Trade payables increased to HKD 28,913,000 from HKD 22,474,000, representing a rise of 28.9%[28] - The total liabilities for trade and other payables were HKD 49,636,000, slightly down from HKD 49,708,000[28] Cash Flow - The net cash generated from operating activities for the six months ended June 30, 2024, was HKD 8,893,000, compared to a net cash used of HKD 368,000 in the same period last year[9] - The company reported a total cash and cash equivalents of HKD 90,317,000 as of June 30, 2024, an increase of HKD 8,163,000 from the previous period[9] - The company’s financing activities resulted in a net cash outflow of HKD 1,858,000 for the six months ended June 30, 2024, compared to HKD 2,771,000 in the previous period[9] Segment Information - For the six months ended June 30, 2024, the total revenue from reportable segments was HKD 123,920,000, an increase from HKD 118,853,000 for the same period in 2023, representing a growth of approximately 4.4%[16] - The SMC segment generated revenue of HKD 20,620,000, while the non-SMC segment generated HKD 103,300,000, indicating that the non-SMC segment accounted for approximately 83.3% of total segment revenue[16] - The total segment profit for the six months ended June 30, 2024, was HKD 34,676,000, compared to HKD 33,268,000 for the same period in 2023, reflecting an increase of about 4.2%[16] Expenses - The cost of goods sold for the six months ended June 30, 2024, was HKD 89,244,000, compared to HKD 85,585,000 for the same period in 2023, indicating an increase of approximately 4.3%[18] - Employee benefits expenses increased to HKD 18,325,000 for the six months ended June 30, 2024, from HKD 15,597,000 in the same period of 2023, representing a rise of about 17.5%[18] - The income tax expense for the six months ended June 30, 2024, was HKD 2,457,000, a decrease from HKD 2,884,000 in the same period of 2023[20] Dividends and Share Capital - The company declared an interim dividend of HKD 0.005 per share, totaling approximately HKD 10,000,000, consistent with the previous year's interim dividend[22] - The company’s issued and paid-up share capital remained at HKD 20,000,000 as of June 30, 2024, unchanged from the previous period[31] Corporate Governance and Compliance - The company has complied with the corporate governance code as per the listing rules during the reporting period[63] - The audit committee reviewed the interim results for the six months ending June 30, 2024, with no disagreements noted regarding accounting principles and practices[65] Shareholder Information - As of June 30, 2024, Mr. Wong holds 1,500,000,000 shares in the company, representing a 75.00% ownership stake[56] - Major shareholders include Shell Holdings and Red Dynasty, both holding 1,500,000,000 shares, equating to 75.00% ownership each[59] - Hong Kong Construction (Hong Kong) Engineering Co., Ltd. holds 180,090,000 shares, representing 9.00% of the company[59] Innovation and Future Plans - The company has not reported any significant new product launches or technological advancements during this period[10] - The group has several new products in the design and trial production stages, indicating ongoing innovation efforts[41] - The group plans to utilize approximately HKD 34.0 million of unallocated funds for improving efficiency, expanding manufacturing capacity, and investing in new products[52]

Financial Performance - For the six months ended June 30, 2024, the company reported revenue of HKD 123,920,000, an increase of 4.3% compared to HKD 118,853,000 for the same period in 2023[2] - Gross profit for the same period was HKD 15,417,000, slightly down from HKD 15,898,000 in 2023, reflecting a decrease of 3.0%[2] - The net profit attributable to the company's owners for the six months ended June 30, 2024, was HKD 12,960,000, a decrease of 0.4% from HKD 13,014,000 in the previous year[2] - The profit before tax for the six months ended June 30, 2024, was HKD 89,244,000, compared to HKD 85,585,000 in 2023, reflecting a growth of 7.8%[12] - The total income tax expense for the six months ended June 30, 2024, was HKD 2,457,000, down from HKD 2,884,000 in 2023, indicating a decrease of 14.8%[13] - The company's earnings per share for the period was HKD 0.648, slightly down from HKD 0.651 in the previous year[2] - Basic earnings per share for the six months ended June 30, 2024, were HKD 0.00648, slightly down from HKD 0.00650 in 2023[16] Assets and Liabilities - The company's total assets as of June 30, 2024, amounted to HKD 187,981,000, up from HKD 172,428,000 as of December 31, 2023, indicating an increase of 9.0%[3] - Current assets net value increased to HKD 133,964,000 from HKD 118,625,000, representing a growth of 12.9%[3] - The company’s cash and bank balances rose to HKD 90,317,000, compared to HKD 82,158,000 at the end of 2023, marking an increase of 9.5%[3] - The company’s total liabilities as of June 30, 2024, were HKD 49,636,000, slightly down from HKD 49,708,000 as of December 31, 2023[20] - Trade receivables as of June 30, 2024, amounted to HKD 70,003,000, an increase of 11.1% from HKD 62,659,000 as of December 31, 2023[18] - The net amount of trade receivables after impairment provisions was HKD 69,740,000, compared to HKD 62,352,000 in the previous period, showing a growth of 11.8%[18] - The group maintained a debt ratio of zero as of June 30, 2024, due to a net cash balance at year-end[27] Dividends - The total dividend proposed for the year 2023 was HKD 10,000,000, with an interim dividend of HKD 0.005 per share for 2024[15] - The board declared an interim dividend of HKD 0.005 per share for the six months ended June 30, 2024, unchanged from the previous year[34] Market and Operations - The company remains focused on expanding its market presence and enhancing its product offerings in the electric tools and fan manufacturing sectors[4] - Revenue from electric fans and power tools for the six months ended June 30, 2024, was HKD 123,920,000, a 4.4% increase from HKD 118,853,000 in 2023[10] - The group had no significant contingent liabilities as of June 30, 2024, consistent with the previous year[29] - There were no major investments or acquisitions during the six months ended June 30, 2024[30] - The group is optimistic yet cautious about the slow global economic recovery and is facing challenges in an unstable environment[23] Compliance and Reporting - The company has adopted new or revised Hong Kong Financial Reporting Standards effective from January 1, 2024, which are not expected to have a significant impact on the financial statements[6] - The company continues to evaluate the potential impact of new accounting standards that will become effective in 2026 and 2027 on its financial performance and position[9] - The audit committee, consisting of two independent non-executive directors and one non-executive director, reviewed the interim performance and financial information for the six months ending June 30, 2024, with no disagreements noted[40] - The interim report for the six months ending June 30, 2024, will be published on the company's website and the Hong Kong Stock Exchange's disclosure platform[41] - The company has adopted the standard code of conduct for securities trading by directors as per the listing rules, ensuring compliance until June 30, 2024[39] Capital Expenditure - The group had a capital expenditure of HKD 0.4 million for the purchase of property, plant, and equipment during the six months ended June 30, 2024, down from HKD 1.0 million in the same period last year[28] - The current ratio as of June 30, 2024, was approximately 3.48 times, compared to about 3.20 times as of December 31, 2023[25]

Financial Performance - For the fiscal year 2023, the group's revenue decreased to approximately HKD 232.9 million, down 8.5% from HKD 254.5 million in the previous year[11]. - Gross profit for the fiscal year 2023 was HKD 63.7 million, a decrease of 9.0% compared to HKD 70.0 million in the previous year, resulting in a gross margin of 27.3%[11]. - Profit attributable to owners of the company was HKD 20.8 million, down 7.1% from HKD 22.4 million in the previous year[4]. - Profit before tax decreased to HKD 24,479,000 in 2023 from HKD 29,184,000 in 2022, representing a decline of 16.5%[188]. - Net profit attributable to owners of the company for 2023 was HKD 20,773,000, compared to HKD 22,370,000 in 2022, a decrease of 7.1%[188]. - Basic and diluted earnings per share for 2023 were HKD 1.039, down from HKD 1.119 in 2022, a decline of 7.1%[188]. - Other income increased to HKD 7,201,000 in 2023 from HKD 4,128,000 in 2022, an increase of 74.8%[188]. - Administrative and other operating expenses increased to HKD 44,986,000 in 2023 from HKD 42,458,000 in 2022, an increase of 5.7%[188]. - The company reported a profit of HKD 20,773,000 for the year, down from HKD 22,370,000 in the previous year, reflecting a decrease of about 6.7%[193]. - The company paid dividends totaling HKD 30,000,000 in 2023, compared to HKD 46,000,000 in 2022, a decrease of about 34.8%[195]. Cash Flow and Assets - The group maintained a cash and bank balance of approximately HKD 82.2 million as of December 31, 2023, compared to HKD 89.3 million in the previous year[13]. - Cash and cash equivalents at year-end decreased from HKD 89,297,000 in 2022 to HKD 82,158,000 in 2023, a reduction of approximately 8%[195]. - Total assets decreased from HKD 172,428,000 in 2022 to HKD 169,214,000 in 2023, a decline of approximately 1.3%[190]. - The company’s total equity decreased from HKD 138,720,000 in 2022 to HKD 129,261,000 in 2023, a decline of about 6.8%[193]. - The company’s retained earnings at the end of 2023 were HKD 49,484,000, down from HKD 50,814,000 in 2022, a decrease of about 2.6%[193]. Operational Challenges - The group faced challenges due to global uncertainties and currency fluctuations, leading to cautious customer purchasing behavior[7]. - Future outlook for 2024 remains challenging, with plans to expand new customer bases to achieve stable returns[10]. Employee and Management - As of December 31, 2023, the total number of employees in the group was 112, an increase from 106 in 2022[20]. - The management regularly reviews employee compensation and benefits based on market practices and individual performance[20]. - The management team has extensive experience in the industry, with key members having over 40 years of experience in export and manufacturing sectors[35][39][41]. Corporate Governance - The company has maintained a high standard of corporate governance since its listing on June 2, 2020, on the Hong Kong Stock Exchange[43]. - The company emphasizes the importance of good corporate governance practices for effective operations and sustainable development, aiming to protect and enhance shareholder interests[43]. - The board includes independent non-executive directors with diverse backgrounds and expertise, enhancing the company's strategic decision-making[34][37][38]. - The company has adopted the Corporate Governance Code as its standard governance guideline, ensuring compliance with applicable rules as of December 31, 2023[44]. - The board has confirmed the effectiveness of its corporate governance policies and has reviewed compliance with these policies throughout the year[50]. Risk Management - The company has implemented a risk management and internal control system to protect shareholder investments and group assets, which is reviewed annually by the board[94]. - The risk management system includes identifying significant risks, assessing risk levels, and monitoring the effectiveness of control procedures[95]. - The company has adopted an anti-corruption policy to limit employees from receiving benefits and a whistleblowing policy for reporting concerns about misconduct[98]. Shareholder Information - The company has established various channels for communication with shareholders, including printed communications and timely updates on the company website[91]. - The board has reviewed the effectiveness of the shareholder communication policy, finding it effective in maintaining timely and transparent communication with shareholders[91]. - The company has a significant ownership structure, with Mr. Ong holding 80.5% of the shares through Red Dynasty Investments Limited[32]. - Major shareholders include Shell Holdings with 1,500,000,000 shares (75.00%), Red Dynasty, and Mr. Wong, all holding the same percentage[131]. Future Plans and Investments - The revised allocation of the unutilized proceeds includes approximately HKD 34.0 million for improving efficiency, expanding manufacturing capacity, and investing in new products[22]. - The company has a strategic focus on improving operational efficiency and expanding its manufacturing capabilities[22]. - The company has been actively involved in property investment and development in both Hong Kong and the United States[33]. Compliance and Legal - The company has complied with all relevant laws and regulations in all material respects for the year ending December 31, 2023, without any significant adverse impact on its business or financial condition[167]. - The company has complied with the disclosure requirements for related party transactions as per the listing rules[163].

Financial Performance - For the year ended December 31, 2023, the company's revenue was HKD 232,920,000, a decrease of 8.5% from HKD 254,489,000 in 2022[4] - Gross profit for the year was HKD 63,692,000, down 8.5% from HKD 69,960,000 in the previous year[4] - The company's net profit attributable to shareholders was HKD 20,773,000, a decline of 7.1% compared to HKD 22,370,000 in 2022[4] - Basic and diluted earnings per share were HKD 1.039, down from HKD 1.119 in the previous year, representing a decrease of 7.1%[4] - The pre-tax profit for 2023 was HKD 3,706,000, down from HKD 6,814,000 in 2022, reflecting a decline of approximately 45.5%[23] - The group’s income tax expense for 2023 included HKD 3,513,000 in Hong Kong profits tax, compared to HKD 4,822,000 in 2022, indicating a reduction of 27.2%[23] - The group’s gross profit for the fiscal year ending December 31, 2023, was HKD 63.7 million, down HKD 6.3 million from HKD 70.0 million in the previous year, resulting in a gross margin of 27.3%, a decrease of 0.2 percentage points from 27.5%[38] - The profit attributable to the company's owners for the fiscal year ending December 31, 2023, was HKD 20.8 million, a decrease of HKD 1.6 million or 7.1% from HKD 22.4 million in the previous year[38] Assets and Liabilities - Total assets as of December 31, 2023, were HKD 172,428,000, an increase from HKD 169,214,000 in 2022[6] - Current liabilities increased to HKD 53,803,000 from HKD 43,496,000, reflecting a rise of 23.6%[6] - The company’s total equity decreased to HKD 129,261,000 from HKD 138,720,000, a decline of 6.4%[6] - Trade receivables increased to HKD 62.7 million in 2023 from HKD 47.8 million in 2022, with a net trade receivables amount of HKD 62.4 million after impairment provisions[30] - Trade payables rose significantly to HKD 22.5 million in 2023 from HKD 9.8 million in 2022, indicating increased operational liabilities[31] - The current ratio as of December 31, 2023, was approximately 3.20 times, down from 3.89 times in 2022, indicating a decrease in liquidity[40] - The group maintained a debt ratio of zero as of December 31, 2023, due to a net cash balance at year-end[42] Cash Flow and Dividends - The company proposed a final dividend of HKD 0.005 per ordinary share for 2023, totaling HKD 10 million, down from HKD 20 million in 2022[27] - The company proposed a final dividend of HKD 0.5 per share for the year ended December 31, 2023, compared to HKD 1.0 per share in 2022[61] - The proposed final dividend will be paid on July 17, 2024, to shareholders listed on June 25, 2024[63] - Share registration will be suspended from June 21, 2024, to June 25, 2024, to determine eligibility for the proposed final dividend[63] Operational Highlights - The company reported other income of HKD 7,201,000, an increase of 74.8% from HKD 4,128,000 in the previous year[4] - The group’s employee benefits expenses, including director remuneration, totaled HKD 34,097,000 in 2023, slightly up from HKD 33,112,000 in 2022, representing an increase of 3%[22] - The group’s depreciation of property, plant, and equipment was HKD 2,053,000 in 2023, compared to HKD 2,047,000 in 2022, showing a marginal increase[22] - The group faced price competition in the Middle East market, impacting sales and gross profit in the fan business segment[36] - The company has not disclosed any new product developments or market expansion strategies in the current report[2] - There were no significant investments or acquisitions during the year ended December 31, 2023[45] Employee and Capital Management - The total number of employees as of December 31, 2023, was 112, an increase from 106 in 2022[46] - Capital expenditure for the year ended December 31, 2023, was HKD 5.4 million, a decrease from HKD 6.3 million in 2022[43] - Total capital commitments as of December 31, 2023, amounted to approximately HKD 0.6 million, down from HKD 1.1 million in 2022[43] - The net proceeds from the share issuance were approximately HKD 42.5 million, with a reallocation of unused funds amounting to HKD 34.0 million for efficiency improvements, manufacturing capacity expansion, and new product development[48] Governance and Compliance - The audit committee reviewed the annual performance and financial statements for the year ended December 31, 2023, with no disagreements noted[57] - The company had no contingent liabilities as of December 31, 2023[44] - There were no assets pledged as collateral for borrowings as of December 31, 2023[47] - The company has not bought, sold, or redeemed any of its listed securities during the year ended December 31, 2023[53] - The company's annual general meeting will be held on June 14, 2024, at 10:30 AM in Hong Kong[65] - Share registration will also be suspended from June 7, 2024, to June 14, 2024, for the upcoming annual general meeting[62]

Financial Performance - The company's revenue for the six months ended June 30, 2023, was HKD 118,853,000, a decrease of 27% compared to HKD 162,662,000 for the same period in 2022[5] - Gross profit for the same period was HKD 33,268,000, down 23.5% from HKD 43,492,000 year-on-year[5] - Profit attributable to owners of the company for the six months was HKD 13,014,000, a decline of 47.3% from HKD 24,704,000 in the previous year[5] - The company reported a pre-tax profit of HKD 15,898,000 for the six months ended June 30, 2023, a decrease of 48.6% compared to HKD 30,872,000 in the same period last year[12] - Total income tax expense for the period was HKD 2,884,000, down from HKD 6,168,000 in the previous year, a reduction of 53.3%[31] - The group's gross profit for the same period was HKD 33.3 million, down HKD 10.2 million from HKD 43.5 million in the previous year, resulting in a gross margin of 28.0%, an increase of 1.3 percentage points from 26.7%[60] - Profit attributable to owners of the company for the six months ended June 30, 2023, was HKD 13.0 million, a decrease of approximately HKD 11.7 million or 47.3% from HKD 24.7 million in the same period last year[60] Assets and Liabilities - The company's total assets as of June 30, 2023, were HKD 186,312,000, an increase of 10.1% from HKD 169,214,000 at the end of 2022[8] - Current liabilities increased to HKD 45,167,000 from HKD 43,496,000, reflecting a rise of 3.8%[8] - The company's cash and bank balances were HKD 86,255,000, slightly down from HKD 89,297,000 at the end of 2022[8] - Trade receivables increased to HKD 69,955,000 as of June 30, 2023, compared to HKD 47,822,000 as of December 31, 2022, representing a growth of 46.3%[37] - Total liabilities, including trade and other payables, reached HKD 39,745,000, compared to HKD 36,075,000, marking an increase of 7.4%[39] Cash Flow - Operating cash flow generated was HKD 1,423,000, down from HKD 7,155,000, indicating a significant decline in cash generation capabilities[12] - The net cash used in investing activities was HKD 153,000, an improvement from a net cash outflow of HKD 651,000 in the previous year[12] - The company experienced a net cash outflow of HKD 2,986,000 from financing activities, compared to a net cash outflow of HKD 2,714,000 in the prior period[12] - Cash and cash equivalents at the end of the period stood at HKD 86,255,000, down from HKD 93,672,000 at the end of the previous year[12] Dividends and Shareholder Returns - The company has allocated HKD 20,000,000 for dividends, maintaining its commitment to shareholder returns despite the decline in profits[9] - The company declared an interim dividend of HKD 0.005 per share, totaling approximately HKD 10,000,000, compared to HKD 0.02 per share in the previous year[32] - The interim dividend declared is HKD 0.005 per share for the six months ended June 30, 2023, compared to HKD 0.02 per share for the same period last year[77] Market and Strategic Outlook - The company plans to focus on expanding its market presence and enhancing its product offerings in the upcoming quarters[4] - The group faced weak global market demand due to slow economic recovery and interest rate hikes in the US, impacting the sales of electric tools and fans[59] - The outlook for 2024 remains uncertain, and the group will maintain a cautious approach to new investments[59] Corporate Governance - The company has maintained compliance with the corporate governance code as per the listing rules for the six months ending June 30, 2023[89] - The audit committee reviewed the interim performance and financial information for the six months ending June 30, 2023, with no disagreements noted[93] - All directors confirmed compliance with the standard code of conduct regarding securities trading for the six months ending June 30, 2023[92] - The board will continue to review and monitor the company's corporate governance practices to maintain high standards[90] Employee and Operational Metrics - Employee benefits expenses increased to HKD 15,597,000 from HKD 14,541,000, an increase of 7.3%[27] - The total number of employees as of June 30, 2023, was 109, an increase from 106 on December 31, 2022[70] Segment Information - The company has identified two operating segments: SMC, which focuses on developing and selling its own brand of fans, and non-SMC, which involves developing and manufacturing tools and fans for customers' brands[18] - Total reported segment revenue for the six months ended June 30, 2023, was HKD 118,853,000, a decrease of 27% from HKD 162,662,000 in the same period of 2022[25] - The reported segment profit for the same period was HKD 33,268,000, down 23.5% from HKD 43,492,000 in the previous year[24] - Sales of fans decreased to HKD 57,063,000 from HKD 68,571,000, representing a decline of 16.7%[25] - Sales of vacuum cleaners dropped to HKD 49,250,000 from HKD 67,792,000, a decrease of 27.3%[25] Use of Proceeds - The net proceeds from the share issuance amount to approximately HKD 42.5 million after deducting underwriting fees and related expenses[73] - The board has decided to reallocate approximately HKD 34.0 million of the unused proceeds for improving efficiency, expanding manufacturing capacity, and investing in new products[73] - As of June 30, 2023, the actual usage of the proceeds for improving efficiency was HKD 6.3 million, with HKD 3.2 million reallocated and HKD 2.8 million remaining unused[74] - For expanding manufacturing capacity, HKD 25.9 million was allocated, with HKD 4.0 million used and HKD 21.5 million remaining[74] - The unused proceeds are expected to be utilized by December 31, 2024[74] Shareholding Structure - As of June 30, 2023, Mr. Wong holds a 75.00% stake in the company through Red Dynasty Investments Limited, which owns 80.5% of the company[81] - Major shareholders include Shell Holdings with a 75.00% stake and Hong Kong Construction (Hong Kong) Engineering Limited with a 9.00% stake[84] - The ownership structure indicates that Mr. Wong holds 80.5% of the company through Red Dynasty[91]

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告全部 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：2381） 截至二零二三年六月三十日止六個月的中期業績公告 未經審核中期業績 蜆壳電業有限公司（「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之未經審核簡明綜 合中期業績，連同截至二零二二年六月三十日止六個月之未經審核比較數字及 截至二零二二年十二月三十一日止上一個經審核財政年度年末的若干比較數字。 本集團截至二零二三年六月三十日止六個月的簡明綜合全面收益表及本集團於 二零二三年六月三十日的簡明綜合財務狀況表連同經選定說明附註均未經審核， 惟已經本公司審核委員會審閱。 ...