6月10日，截至港股收盘，恒生指数下跌0.08%，报24162.87点。保发集团（03326.HK）收报0.235港元/ 股，上涨51.61%，成交量1165.8万股，成交额273.65万港元，振幅14.84%。 最近一个月来，保发集团累计涨幅0%，今年来累计跌幅16.67%，跑输恒生指数20.55%的涨幅。 财务数据显示，截至2024年12月31日，保发集团实现营业总收入2.53亿元，同比减少21.57%；归母净利 润895.57万元，同比减少71.86%；毛利率30.18%，资产负债率21.08%。 作者：行情君 资料显示，保发集团国际控股有限公司(「保发集团」或「集团」)创立于1985年,为优质珠宝制造商及批 发商翘楚之一,在香港拥有超过30年经营历史,信誉昭著。集团主要从事产品设计、制造及销售,产品主要 是高档次(镶有钻石的)珠宝。根据IPSOS报告,按收益总额计算,集团于2014年在香港高端优质珠宝零售分 部之优质珠宝制造及出口行业中排名第二。保发集团设有两个办事处,一个设于香港,一个设于迪拜。香 港办事处作为客人与集团设计、生产及销售团队的桥梁,而迪拜办事处则为中东及附近地区的销售及物 流枢纽。所 ...

Jewellery Business Performance - The Jewellery Business was significantly impacted by geopolitical tensions, declining economic growth expectations, and record high gold prices, leading to weakened customer sentiment [25]. - The Group decided to contract the sales of the Jewellery Business in the PRC market and focus on overseas market development going forward [25]. - The Group is in the process of divesting certain interests in the Jewellery Business in the PRC [25]. - The Group's overall performance reflects the challenges posed by the macroeconomic environment, particularly in the PRC market [25]. - The Group's strategic shift towards overseas markets indicates a response to the contraction in the domestic market [25]. - The Jewellery Business segment is expected to continue facing challenges due to geopolitical tensions, declining economic growth expectations, and record-high gold prices, leading to reduced customer confidence [27]. - The Group is focusing on overseas market development for its Jewellery Business, actively participating in jewellery shows and exhibitions to attract new customers [28]. - The revenue from the Jewellery Business decreased by approximately HK$53.6 million, while the Property Business revenue decreased by approximately HK$25.7 million [49]. - Revenue from the Jewellery Business decreased from approximately HK$286.4 million for the year ended 31 December 2023 to approximately HK$232.8 million for the year ended 31 December 2024, representing a decrease of approximately HK$53.6 million or 18.7% [61]. - The gross profit from the Jewellery Business decreased from approximately HK$80.5 million for the year ended 31 December 2023 to approximately HK$63.8 million for the year ended 31 December 2024, representing a decrease of approximately HK$16.7 million or 20.7% [64]. Property Business Performance - The Property Business involves investment and development of properties for the Perfect Group Jewellery Industry Park located in Foshan, Guangdong Province, PRC [22]. - The overall industrial property market in the PRC remains subdued, with lower sales of properties and car parks compared to the corresponding period in 2024 [34]. - The Group completed the disposal of Foshan Huaguanhui Property Management for approximately RMB3.7 million (equivalent to approximately HK$4.0 million) on 1 April 2024, ceasing its consolidation into the Group's financial statements [32]. - The revenue from the Property Business decreased from approximately HK$59.3 million for the year ended 31 December 2023 to approximately HK$33.5 million for the year ended 31 December 2024, representing a significant decrease of approximately HK$25.8 million or 43.4% [66]. - Rental income for the year ended 31 December 2024 was approximately HK$11.7 million, representing a decrease of approximately HK$2.4 million or 17.2% [69]. - Property management fee income for the year ended 31 December 2024 was approximately HK$7.7 million, representing a decrease of approximately HK$3.2 million or 29.6% [70]. - The number of units of properties delivered to customers decreased from 17 in 2023 to 9 in 2024, with the saleable gross floor area sold and delivered decreasing from approximately 7,313 square metres to approximately 2,978 square metres [68]. - The gross profit recognised for the Property Business for the year ended 31 December 2024 was approximately HK$14.9 million, with a gross profit margin of approximately 44.5% [71]. Photovoltaic Power Generation and Energy Storage Business - The Photovoltaic Power Generation and Energy Storage Business includes sales of electricity generated from photovoltaic systems and provision of energy storage services [22]. - The photovoltaic power generation business generated approximately 9.8 million units of electricity during the year ended 31 December 2024, an increase from 3.6 million units in 2023 [38]. - The Group generated approximately 9,800,000 kWh of electricity in the year ended December 31, 2024, compared to 3,600,000 kWh in the previous year [40]. - The revenue from the Photovoltaic Power Generation and Energy Storage Business increased from approximately HK$3.0 million for the year ended 31 December 2023 to approximately HK$7.2 million for the year ended 31 December 2024, representing an increase of approximately 135.5% [75]. - The gross profit from the Photovoltaic Power Generation and Energy Storage Business increased by approximately HK$2.1 million or 124.1% compared to the previous year [59]. - The Group's energy storage business is driven by significant market demand and favorable government policies, with new energy storage included in the government work report for the first time in 2024 [42]. - The Group aims to expand its energy storage business by developing, building, and operating independent energy storage power stations [42]. - As of December 31, 2024, the Group completed 14 grid-connected projects in China with a total capacity of approximately 12,586 kW, up from 5,882 kW as of December 31, 2023 [40]. Financial Performance - Revenue decreased from approximately HK$348.7 million for the year ended December 31, 2023, to approximately HK$273.5 million for the year ended December 31, 2024, representing a decrease of approximately HK$75.2 million or 21.6% [48]. - The overall gross profit decreased from approximately HK$102.2 million for the year ended 31 December 2023 to approximately HK$82.5 million for the year ended 31 December 2024, representing a decrease of approximately HK$19.7 million or 19.2% [59]. - Profit after taxation decreased from approximately HK$34.2 million for the year ended 31 December 2023 to approximately HK$9.9 million for the year ended 31 December 2024, representing a decrease of approximately HK$24.3 million or 71.1% [95]. - Current assets decreased from approximately HK$734.3 million as at 31 December 2023 to approximately HK$647.5 million as at 31 December 2024, representing a decrease of approximately HK$86.8 million or 11.8% [97]. - Non-current assets increased to approximately HK$119.2 million as at 31 December 2024 from approximately HK$93.4 million as at 31 December 2023, primarily due to the installation of photovoltaic and energy storage equipment [96]. - Current liabilities decreased from approximately HK$162.5 million as at 31 December 2023 to approximately HK$143.1 million as at 31 December 2024, representing a decrease of approximately HK$19.4 million or 11.9% [101]. - The gross profit margin increased slightly from approximately 29.3% for the year ended 31 December 2023 to approximately 30.2% for the year ended 31 December 2024, representing an increase of approximately 0.9 percentage point or 3.1% [60]. - Other income rose from approximately HK$5.3 million for the year ended 31 December 2023 to approximately HK$6.5 million for the year ended 31 December 2024, an increase of approximately 22.6% [77]. Management and Governance - The Group's management team includes individuals with significant industry experience, enhancing its strategic decision-making capabilities [162]. - The appointment of independent directors aims to strengthen corporate governance and oversight within the Group [169]. - The Group is focused on expanding its market presence and enhancing its operational efficiency through experienced leadership [168]. - The management team is committed to achieving the Group's business development and strategic goals [163]. - The Group's risk management committee is actively involved in overseeing the company's risk exposure and mitigation strategies [162]. - The Group has implemented targeted training and development programs to enhance employee skills and knowledge in response to industry developments [143]. Employee and Corporate Information - The total number of employees decreased to 133 as of December 31, 2024, from 159 as of December 31, 2023 [135][138]. - Total salaries and related costs for the year ended December 31, 2024, were approximately HK$28.6 million, a decrease from approximately HK$30.7 million for the year ended December 31, 2023 [135][138]. - Ms. Tang Kam Man has been appointed as the Chief Financial Officer and Company Secretary effective from 8 November 2023, bringing over 14 years of experience in auditing and accounting [185][186]. - Mr. Kan has over 30 years of experience in the fine jewellery industry and has been the CEO since August 2015 [161]. - Ms. Shek has been managing the Group's sales operations and has over 30 years of experience in the fine jewellery industry [165]. - Mr. Wong has over 40 years of experience in accounting, finance, audit, tax, and corporate finance across various international markets [181]. Risk Management - The Group faces potential risks from major customers ceasing business relationships, which could materially affect profitability and financial position [152]. - Credit risk is managed through a dedicated team responsible for credit limits and monitoring to recover overdue debts [154]. - The Company has taken out insurance to enhance the recoverability of trade debtors in the Jewellery Business [155]. - The Group does not currently have an interest rate hedging policy but may consider it if significant interest rate risks arise [153]. - The Group's financial condition may be affected by changes in Hong Kong and PRC tax laws, particularly regarding cross-border processing business [152]. Dividend and Shareholder Information - The Group did not declare any interim dividend for the year ended 31 December 2024, and proposes a final dividend of HK$0.01 per share, totaling HK$13,362,450 [191][195]. - The Board intends to balance dividend distribution, cash flow, and reserves to create long-term value for shareholders, with no assurance of specific dividend amounts for any period [141]. - The final dividend is subject to approval by Shareholders at the annual general meeting scheduled for 2 June 2025 [196]. - The total shares in issue as of the date of the report is used to calculate the proposed final dividend [191].

Financial Performance - The total revenue for the year ended December 31, 2024, was HKD 273,492,000, a decrease of 21.5% compared to HKD 348,711,000 in 2023[3] - Gross profit for the year was HKD 82,544,000, down 19.3% from HKD 102,204,000 in the previous year[3] - The net profit for the year was HKD 9,859,000, a decline of 71.1% from HKD 34,158,000 in 2023[4] - Basic and diluted earnings per share decreased to HKD 0.72 from HKD 2.56, representing a drop of 71.9%[4] - The company reported a loss of HKD 26,293,000 related to impairment losses on assets held for sale[3] - The company reported a loss of HKD 1,655,000 before tax for the year ending December 31, 2024, after accounting for various impairment losses and unallocated expenses[16] - The company's profit before tax decreased to HKD 9,671,000 in 2024 from HKD 34,364,000 in 2023, a decline of about 71.8%[32] - Net profit after tax decreased from approximately HKD 34,200,000 for the year ended December 31, 2023, to approximately HKD 9,900,000 for the year ended December 31, 2024, a decrease of about HKD 24,300,000 or 71.1%[86] Revenue Breakdown - For the year ending December 31, 2024, the total revenue was HKD 273,492,000, with jewelry business contributing HKD 232,805,000, property business HKD 33,530,000, and photovoltaic and energy storage business HKD 7,157,000[16] - For the year ending December 31, 2023, the total revenue was HKD 348,711,000, with jewelry business contributing HKD 286,426,000, property business HKD 59,246,000, and photovoltaic business HKD 3,039,000[17] - Jewelry business revenue fell by approximately HKD 53.6 million, while property business revenue decreased by approximately HKD 25.7 million[56] - Revenue from the photovoltaic power generation and energy storage business increased from approximately HKD 3,000,000 in 2023 to approximately HKD 7,200,000 in 2024, an increase of approximately HKD 4,200,000 or 140%[72] Asset and Liability Changes - Total assets decreased to HKD 647,538,000 from HKD 734,260,000, a reduction of 11.8%[6] - Current liabilities decreased to HKD 143,133,000 from HKD 162,532,000, a decline of 11.9%[6] - Non-current assets increased to HKD 137,465,000 from HKD 103,265,000, an increase of 33.1%[6] - The company’s equity attributable to owners decreased to HKD 609,939,000 from HKD 642,667,000, a decrease of 5.1%[7] - As of December 31, 2024, total assets amounted to HKD 785,003,000, with jewelry business assets at HKD 339,730,000, property business HKD 374,273,000, and photovoltaic and energy storage business HKD 63,786,000[19] - The total liabilities as of December 31, 2024, were HKD 165,485,000, with jewelry business liabilities at HKD 40,483,000, property business HKD 12,855,000, and photovoltaic and energy storage business HKD 39,432,000[19] Market and Business Strategy - The company plans to continue exploring new product development and market expansion strategies in the upcoming year[3] - The company plans to continue its market expansion efforts, particularly in China, where non-current assets have shown significant growth[23] - The jewelry business is expected to continue facing challenges due to the macroeconomic environment, with a focus on overseas market development[48] - The company is actively participating in exhibitions and trade fairs in Hong Kong and overseas to attract new customers and strengthen its jewelry business[48] - The company is in the process of divesting certain interests in its jewelry business in China due to market contraction[46] Dividend and Shareholder Information - The proposed final dividend for the year ending December 31, 2024, is HKD 0.01 per share, totaling approximately HKD 13,362,450[29] - The board has proposed a final dividend of HKD 0.01 per share for the year ended December 31, 2024, down from HKD 0.02 per share for the previous year[107] - The company has not declared any interim dividends for the year ended December 31, 2024[107] - The company repurchased a total of 4,764,000 shares at a total cost of approximately HKD 901,000 during the year[43] Operational Efficiency - The total employee costs decreased to HKD 28,616,000 in 2024 from HKD 30,696,000 in 2023, a reduction of approximately 6.8%[25] - Trade receivables impairment loss for the year was approximately HKD 1,137,000, compared to HKD 835,000 in 2023, reflecting an increase of 36.3%[37] - The total overdue trade receivables amounted to approximately HKD 28,428,000, down from HKD 43,088,000 in 2023, representing a decrease of 34.1%[38] - Trade payables decreased to HKD 28,388,000 in 2024 from HKD 32,481,000 in 2023, a decline of 12.5%[40] - The company has established an internal credit control system to assess the credit quality of potential customers before acceptance[36] Compliance and Governance - The company is currently evaluating the impact of the new Hong Kong Financial Reporting Standard No. 18 on its consolidated financial statements, which will take effect from January 1, 2027[13] - The audit committee has reviewed and confirmed the accounting standards and practices adopted by the group for the year ended December 31, 2024[116] - The company is committed to maintaining high corporate governance standards to protect shareholder interests and enhance corporate value[110] Miscellaneous - The company has not authorized any significant investments or acquisitions of capital assets as of December 31, 2024, but will continue to seek suitable investment opportunities[106] - The executive directors include Mr. Jian Jian Guang, Ms. Shi Mei Zhen, and Mr. Zhong Zhi Qiang, with independent non-executive directors Dr. Wu Hong Bin, Ms. Wu Xian Qiao, and Mr. Huang Wei Qiang[120]

Acquisitions and Disposals - Perfect Group International Holdings Limited completed the acquisition of 55% equity interests in Guangdong Kaisi New Energy Co., Ltd. for approximately RMB 7.15 million in August 2023[13]. - The company disposed of its entire equity interests in Foshan Huaguanhui Property Management Ltd. for approximately RMB 3.7 million (equivalent to approximately HK$4.0 million) in April 2024[16]. - The Group acquired Guangdong Kaisi in 2023, establishing a new Photovoltaic Power Generation Business segment, which generated approximately 3.0 million units of electricity during the six months ended June 30, 2024[29]. - The Group completed the grid connection of ten photovoltaic projects in the PRC with a total capacity of approximately 8,643 kilo-Watt during the same period[29]. - The Group increased its shareholding in Guangdong Huijinying from 61% to 74.67% through a partial acquisition for RMB5,100,000 (approximately HK$5,478,000)[150]. - On June 19, 2024, the Group entered into an agreement to acquire an additional 4.5% equity interest in Guangdong Huijinying for RMB450,000 (approximately HK$483,000), increasing its shareholding from 61% to 70%[156]. - The Group injected RMB4,200,000 into Guangdong Huijinying as paid-up capital, increasing its shareholding from 70% to 74.67%[158]. Financial Performance - Revenue for the six months ended June 30, 2024, was approximately HK$154.7 million, a decrease of approximately HK$19.4 million or 11.1% from HK$174.1 million in the same period of 2023[35]. - Revenue from the Jewellery Business decreased by approximately HK$27.0 million or 17.4%, while the Property Business increased by approximately HK$6.5 million or 35.6% and the Photovoltaic Business increased by approximately HK$1.1 million or 167.3%[36]. - Overall gross profit decreased from approximately HK$57.7 million to approximately HK$42.5 million, a decrease of approximately HK$15.2 million or 26.3%[47]. - The overall gross profit margin decreased from approximately 33.1% to approximately 27.5%, representing a decrease of approximately 5.6 percentage points or 16.9%[48]. - Profit for the six months ended 30 June 2024 was approximately HK$25.2 million, representing an increase of approximately HK$500,000 or 2.0% compared to approximately HK$24.7 million for the same period in 2023[69]. - Total comprehensive income for the period was HK$14,998,000, significantly higher than HK$7,377,000 in 2023, marking an increase of 103.5%[144]. - Basic earnings per share remained stable at 1.90 HK cents, compared to 1.91 HK cents in the same period last year[144]. Segment Performance - The Jewellery Business was significantly impacted by geopolitical tensions, rising interest rates, declining economic growth expectations, and record high gold prices, leading to weakened customer sentiment[20]. - The Group's indirect non-wholly owned subsidiary, Guangdong Huijinying Jewellery Company Limited, commenced operations through its licensed environmental protection center during the same period, integrating its metal refining and purifying processes into the Jewellery Business segment[21]. - The Group expects the Jewellery Business to continue facing challenges in the second half of 2024 due to the macroeconomic environment and market contraction in China, while focusing on enhancing participation in jewellery fairs and developing competitive styles[22]. - The Property Business is expected to continue generating stable rental and management fee income in the second half of 2024, with ongoing efforts to increase occupancy rates[26]. - Revenue from the Photovoltaic Power Generation Business increased from approximately HK$0.7 million to approximately HK$1.7 million, representing an increase of approximately HK$1.0 million or 142.9%[61]. - The jewellery business generated a segment profit of HK$16,937,000, while the property business reported a profit of HK$3,722,000, and the photovoltaic power generation business achieved a profit of HK$794,000[182]. Revenue Breakdown - Revenue from Hong Kong decreased from approximately HK$108.8 million to approximately HK$95.6 million, representing a decrease of approximately HK$13.2 million or 12.1%[40]. - Revenue from Dubai decreased from approximately HK$46.0 million to approximately HK$27.3 million, representing a decrease of approximately HK$18.7 million or 40.6%[41]. - Revenue from the PRC increased from approximately HK$19.4 million to approximately HK$31.9 million, representing an increase of approximately HK$12.5 million or 64.5%[43]. - Revenue breakdown included HK$95,579,000 from Hong Kong, HK$27,299,000 from Dubai, and HK$31,857,000 from the PRC[197]. Expenses and Costs - Selling and distribution costs decreased from approximately HK$7.9 million to approximately HK$7.1 million, a decrease of approximately HK$0.8 million or 10.1%[62]. - General and administrative expenses decreased from approximately HK$23.8 million to approximately HK$22.7 million, a decrease of approximately HK$1.1 million or 4.6%[63]. - Finance costs increased to approximately HK$0.8 million for the six months ended 30 June 2024, up from approximately HK$0.6 million for the same period in 2023[67]. - The gross profit from the Jewellery Business was approximately HK$33.2 million, a decrease of approximately HK$12.5 million or 27.4% compared to the previous year[50]. - The gross profit from the Property Business was approximately HK$8.3 million, a decrease of approximately HK$3.6 million or 30.5% compared to the previous year[50]. - The gross profit from the Photovoltaic Power Generation Business was approximately HK$1.0 million, an increase of approximately HK$1.0 million or 2,083.3% compared to the previous year[50]. Assets and Liabilities - Current assets amounted to approximately HK$694.5 million as at 30 June 2024, down from approximately HK$734.3 million as at 31 December 2023[70]. - Total interest-bearing bank loans increased to approximately HK$43.1 million as at 30 June 2024, up from approximately HK$25.0 million as at 31 December 2023[71]. - The gearing ratio was approximately 0.07 as at 30 June 2024, compared to approximately 0.04 as at 31 December 2023[75]. - Net assets as of June 30, 2024, were HK$637,374,000, down from HK$649,704,000 at the end of 2023, a decrease of 1.9%[146]. - The total consolidated assets decreased slightly to HK$818,398,000 from HK$837,525,000 as of December 31, 2023[194]. Corporate Governance and Management - The Company adopted the Corporate Governance Code and met the provisions set out in Part 2 of the CG Code, with a deviation from code provision C.2.1[114]. - The roles of chairman and chief executive officer are held by the same individual, Mr. Kan Kin Kwong, which the Directors believe is beneficial for management[115]. - The Company has no provisions for pre-emptive rights under its memorandum and articles of association[120]. - The Company will continue to enhance its corporate governance practices appropriate to its operations and growth[114]. - The Group's management has implemented a share option scheme to incentivize employees based on their individual performance[89]. Employee and Shareholder Information - The Group had a total of 132 employees as of June 30, 2024, down from 154 employees as of December 31, 2023[89]. - The Board resolved not to declare any interim dividend for the six months ended June 30, 2024, consistent with the decision for the same period in 2023[94]. - As of June 30, 2024, Mr. Kan Kin Kwong holds 886,959,000 shares, representing approximately 68.32% of the company's shareholdings[98]. - Immaculate Diamonds Limited, controlled by Mr. Kan, holds 729,000,000 shares, accounting for 54.36% of the company's total shares[101]. - The maximum number of shares that may be issued upon exercise of all share options under the Share Option Scheme is capped at 10% of the total shares in issue, equating to 45,000,000 shares, which is 135,000,000 shares post-share subdivision in September 2017[108]. Audit and Compliance - The Audit Committee has reviewed the unaudited condensed consolidated financial statements for the six months ended June 30, 2024[134]. - The auditor, Moore CPA Limited, conducted a review of the interim results in accordance with Hong Kong Standard on Review Engagements 2410[134]. - The Group's financial controls, risk management, and internal control systems have been reviewed by the Audit Committee[133]. - The Group has maintained sufficient public float since its listing on the Stock Exchange[126].

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，概不對因本公佈全部或任何部份內容而產生或 因倚賴該等內容而引致的任何損失承擔任何責任。 PERFECT GROUP 保發集團 PERFECT GROUP INTERNATIONAL HOLDINGS LIMITED 保發集團國際控股有限公司 （於開曼群島註冊成立之有限公司） （股份代號：3326） 截至2024年6月30日止六個月之 未經審核中期業績公佈 保發集團國際控股有限公司（「本公司」，連同其附屬公司統稱「本集團」）董事 （「董事」）會（「董事會」）謹此宣佈本集團截至2024年6月30日止六個月之未經審 核簡明綜合業績，連同2023年同期之比較數字載列如下： 簡明綜合損益及其他全面收益表 截至2024年6月30日止六個月 | --- | --- | --- | --- | |---------------------------------------------------------------------------------------------------------- ...

Jewellery Business Performance - The Jewellery Business was significantly impacted by geopolitical tensions, rising interest rates, and declining economic growth expectations, which weakened customer sentiment [18]. - In Q1 2024, the Group expects the Jewellery Business to continue facing challenges due to the ongoing macroeconomic environment [23]. - The Group remains cautiously optimistic about the Jewellery Business in the coming months, with a focus on overseas market development [24]. - Revenue from the Jewellery Business decreased by approximately HK$40.1 million, while the Property Business increased by approximately HK$11.8 million and the Photovoltaic Power Generation Business increased by approximately HK$3.0 million [54]. - Revenue from the Jewellery Business decreased from approximately HK$326.6 million for the year ended 31 December 2022 to approximately HK$286.4 million for the year ended 31 December 2023, representing a decrease of approximately HK$40.2 million or 12.3% [70]. - Gross profit from the Jewellery Business decreased from approximately HK$85.1 million for the year ended 31 December 2022 to approximately HK$80.5 million for the year ended 31 December 2023, a decrease of approximately HK$4.6 million or 5.4% [71]. - The Group aims to enhance the deployment of jewellery fairs and exhibitions to attract new customers and consolidate the Jewellery Business [23]. - The Group will focus on developing competitive jewellery styles in the market to improve customer acquisition [23]. - The Group's strategy includes diversifying revenue streams to improve overall profitability amid challenges in the jewellery market [30][36]. Property Business Performance - In Q1 2024, the occupancy rate of executive dormitories significantly improved, contributing to stable rental and management fee income for the Property Business [29][32]. - The Group aims to enhance profitability in the Property Business by optimizing the car park leasing business in the Perfect Group Jewellery Industry Park [29][32]. - Revenue from the Property Business increased from approximately HK$47.5 million for the year ended 31 December 2022 to approximately HK$59.3 million for the year ended 31 December 2023, representing an increase of approximately HK$11.8 million or 24.8% [76]. - Property management fee income increased from approximately HK$6.5 million for the year ended 31 December 2022 to approximately HK$11.0 million for the year ended 31 December 2023, an increase of approximately HK$4.5 million or 68.5% [79]. Photovoltaic Power Generation Business - The Group completed the grid connection of eight photovoltaic projects in China with a total capacity of approximately 5,882 kW, generating about 3.6 million units of electricity in 2023 [31][34]. - The acquisition of Guangdong Kaisi for approximately RMB 7.15 million was completed in August 2023, marking the entry into the photovoltaic power generation business [41][42]. - Guangdong Kaisi charges users approximately 70% to 90% of the official electricity rate, with unutilized electricity sold to the local electricity bureau at a reduced rate [30][33]. - Revenue from the Photovoltaic Power Generation Business was approximately HK$3.0 million for the year ended 31 December 2023, with a gross profit of approximately HK$1.7 million and a gross profit margin of 56.2% [82]. Financial Performance Overview - Overall revenue decreased from approximately HK$374.0 million in 2022 to approximately HK$348.7 million in 2023, representing a decrease of approximately HK$25.3 million or 6.8% [54]. - Overall gross profit decreased from approximately HK$114.7 million in 2022 to approximately HK$102.2 million in 2023, a decrease of approximately HK$12.5 million or 10.9% [66]. - The overall gross profit margin decreased from approximately 30.7% for the year ended 31 December 2022 to approximately 29.3% for the year ended 31 December 2023, a decrease of approximately 1.4 percentage points or 4.6% [69]. - The profit attributable to shareholders for the year ended December 31, 2023, was approximately HK$29.4 million, unchanged from the previous year [47]. - Profit after taxation for the year ended December 31, 2023, was approximately HK$34.2 million, representing an increase of approximately HK$6.8 million or 24.8% from approximately HK$27.4 million in the previous year [96][99]. Assets and Liabilities - Non-current assets increased to approximately HK$93.4 million as of December 31, 2023, up from approximately HK$60.1 million as of December 31, 2022, primarily due to the installation of photovoltaic equipment [101][104]. - Current assets rose significantly to approximately HK$734.3 million as of December 31, 2023, an increase of approximately HK$246.3 million or 50.5% from approximately HK$488.0 million as of December 31, 2022 [103][105]. - Current liabilities decreased to approximately HK$162.5 million as of December 31, 2023, down by approximately HK$9.1 million or 5.3% from approximately HK$171.6 million as of December 31, 2022 [107][110]. - The Group's cash and cash equivalents rose to approximately HK$76.0 million as of December 31, 2023, compared to approximately HK$53.9 million as of December 31, 2022, with RMB-denominated cash increasing to approximately HK$49.9 million from HK$16.7 million [114][118]. Governance and Management - The company has a strong governance structure with independent non-executive directors serving on key committees, ensuring oversight and strategic direction [171]. - The management team is well-qualified, with members holding advanced degrees and professional certifications in finance and accounting [172]. - The company aims to leverage the extensive experience of its directors to navigate market challenges and capitalize on growth opportunities [171]. - The independent non-executive directors bring diverse international experience, contributing to the company's strategic decision-making processes [178]. Risk Management - The Group faces currency risk primarily from transactions in HKD, USD, RMB, and AED, with sales mainly in USD and expenses in both USD and HKD [142]. - The Group's exposure to currency risk is not significant due to the pegging of HKD and AED to USD, minimizing the impact of USD fluctuations on operational performance [144]. - The Group is exposed to cash flow interest rate risk from variable interest rates on bank balances and borrowings, with no current hedging policy in place [147]. - The Group's maximum exposure to credit risk is the carrying amount of financial assets, with measures in place to minimize this risk through credit limit determinations and monitoring [152]. Dividend Policy - The Group's dividend policy aims to balance dividend distribution with adequate cash flow and reserves to meet working capital requirements and growth opportunities [139]. - The Directors propose a final dividend of HK$0.02 per share, totaling HK$26,820,180 for the year ended 31 December 2023, consistent with the previous year's proposal [190]. - The board plans to maintain dividend distribution to create long-term value for shareholders, balancing cash flow and reserves [141].

Financial Performance - The total revenue for the year ended December 31, 2023, was HKD 348,711,000, a decrease of 6.8% compared to HKD 374,049,000 in 2022[3]. - Gross profit for the year was HKD 102,204,000, down 11% from HKD 114,669,000 in the previous year[3]. - The net profit for the year was HKD 34,158,000, an increase of 24.5% from HKD 27,415,000 in 2022[4]. - Basic and diluted earnings per share for the year were both HKD 2.56, compared to HKD 2.18 in 2022, marking a 17.4% increase[4]. - The pre-tax profit for 2023 was HKD 34,364,000, an increase from HKD 29,400,000 in 2022[47]. - The net profit after tax for the year ended December 31, 2023, was approximately HKD 34,200,000, an increase of approximately HKD 6,800,000 or 24.8% compared to approximately HKD 27,400,000 for the year ended December 31, 2022[99]. Assets and Liabilities - Total assets increased to HKD 734,260,000 from HKD 487,972,000, representing a growth of 50.5%[6]. - The company reported a decrease in inventory to HKD 140,050,000 from HKD 152,061,000, reflecting a reduction of 7.9%[6]. - The company’s total liabilities increased to HKD 171,596,000 after the merger accounting adjustments[24]. - The company’s equity attributable to owners decreased to HKD 642,705,000 after the merger adjustments[24]. - As of December 31, 2023, the total assets of the group amounted to HKD 837,525,000[36]. - The total liabilities of the group as of December 31, 2023, were HKD 187,821,000[36]. Cash Flow and Expenses - Operating cash flow before changes in working capital was HKD 60,993,000, with a net cash from operating activities of HKD 59,516,000 after tax payments[28]. - The company reported a decrease in cash and cash equivalents of HKD 29,931,000, with a year-end cash balance of HKD 48,481,000[30]. - The financing activities resulted in a net cash outflow of HKD 30,877,000, primarily due to dividend payments and loan repayments[30]. - The financial expenses for the year were HKD 1,061,000, a slight increase from HKD 1,003,000 in the previous year[3]. - General and administrative expenses decreased from approximately HKD 49,300,000 for the year ended December 31, 2022, to approximately HKD 45,600,000 for the year ended December 31, 2023, a decrease of approximately HKD 3,700,000 or 7.5%[97]. Segment Performance - The jewelry business generated segment revenue of HKD 326,575,000, while the property business contributed HKD 47,474,000, leading to a combined segment profit of HKD 63,690,000[34]. - Jewelry business revenue was HKD 286.4 million, accounting for 82.1% of total revenue, down from HKD 326.6 million or 87.3% in the previous year, representing a decrease of HKD 40.1 million or 12.3%[75][77]. - Property business revenue increased to HKD 59.2 million, contributing 17.0% to total revenue, up from HKD 47.5 million or 12.7% in 2022, marking an increase of HKD 11.8 million or 24.8%[75][77]. - The photovoltaic power generation business generated revenue of HKD 3.0 million, representing 0.9% of total revenue, a new addition as it was not present in the previous year[75][77]. Acquisitions and Investments - The company completed the acquisition of 55% equity in Guangdong Kaisi New Energy Co., Ltd. for approximately RMB 7,150,000 on August 3, 2023, making it an indirect non-wholly owned subsidiary[18]. - The consolidated financial statements have been prepared using the merger accounting method, reflecting the acquisition as if it occurred on the date control was obtained[18]. Tax and Employee Costs - The group reported a tax expense of HKD 16,116,000 for 2023, up from HKD 10,268,000 in 2022, primarily due to increased corporate income tax in China[42]. - The total employee costs for 2023 were HKD 30,696,000, compared to HKD 29,670,000 in 2022, reflecting a rise in employee expenses[42]. - The number of employees increased from 150 as of December 31, 2022, to 159 as of December 31, 2023[113]. Dividends and Shareholder Information - The proposed final dividend for the year ending December 31, 2023, is HKD 0.02 per share, totaling approximately HKD 26,820,180[46]. - The company proposed a final dividend of HKD 0.02 per share for the year ended December 31, 2023, consistent with the previous year[115]. Compliance and Reporting - The audit committee has reviewed and confirmed the accounting standards and practices adopted by the group for the year ending December 31, 2023[125]. - The financial figures for the year ending December 31, 2023, have been agreed upon by the company's auditor, confirming consistency with the consolidated financial statements[126]. - The annual report containing all information required by the listing rules will be published on the company's website and the stock exchange website at an appropriate time[129].

Revenue Performance - The revenue for the six months ended June 30, 2023, was approximately HK$173.5 million, a decrease of approximately HK$53.1 million or 23.4% compared to HK$226.6 million for the same period in 2022[18]. - Revenue from the Jewellery Business was approximately HK$155.2 million, representing a decrease of approximately HK$38.6 million or 19.9% from HK$193.8 million in the same period of 2022[20]. - The revenue of the Property Business for the six months ended June 30, 2023, was approximately HK$18.2 million, a significant decrease of approximately HK$14.7 million or 44.7% from the corresponding period in 2022[26]. - Revenue for the six months ended June 30, 2023, was HK$173,468,000, a decrease of 23.5% compared to HK$226,635,000 in the same period of 2022[144]. - Sales of jewellery products amounted to HK$155,244,000, down 20% from HK$193,781,000 year-on-year[152]. - Property sales generated revenue of HK$5,672,000, a significant decline of 74.1% compared to HK$21,916,000 in the previous year[144]. - Revenue from Hong Kong decreased to HK$108,759,000, down 23.1% from HK$141,452,000 in 2022[164]. - Revenue from Dubai increased significantly to HK$45,995,000, up 92.2% from HK$23,934,000 in 2022[164]. Profit and Loss - The gross profit for the six months ended June 30, 2023, decreased to approximately HK$45.7 million, a decline of approximately HK$2.6 million or 5.4% from HK$48.3 million in the corresponding period of 2022[21]. - The overall gross profit decreased from approximately HK$68.0 million to HK$57.6 million, representing a decrease of approximately HK$10.4 million or 15.3% from the corresponding period of 2022[27]. - Profit for the six months ended June 30, 2023, was approximately HK$24.9 million, an increase of approximately 0.8% compared to approximately HK$24.7 million for the same period in 2022[38]. - The profit for the period attributable to owners of the Company was HK$25,656,000, slightly up from HK$25,347,000 in 2022, representing a 1.2% increase[120]. - The company's total comprehensive income for the six months ended June 30, 2023, was HK$8,794,000, compared to HK$4,784,000 for the same period in 2022, representing an increase of 83.0%[125]. - The total taxation charge for the six months ended June 30, 2023, was HK$2,231,000, a decrease of 70.7% from HK$7,601,000 in the same period of 2022[180]. Cost and Expenses - Selling and distribution costs increased significantly from approximately HK$5.3 million to approximately HK$7.9 million, representing an increase of approximately HK$2.6 million or 49.1%[36]. - The Group's total salaries and related costs for the six months ended June 30, 2023, amounted to approximately HK$14.9 million, compared to approximately HK$14.4 million for the same period in 2022[55]. - Total staff costs for the period were HK$14,903,000, slightly up from HK$14,448,000 in 2022[177]. Assets and Liabilities - As of June 30, 2023, current assets amounted to approximately HK$479.3 million, while current liabilities amounted to approximately HK$167.0 million, resulting in a current ratio of approximately 2.9[44]. - The Group's total liabilities stood at HK$196,765,000, with segment liabilities for jewellery and property businesses at HK$65,958,000 and HK$31,539,000, respectively[159]. - Non-current assets as of June 30, 2023, totaled HK$347,287,000, a slight decrease from HK$353,944,000 at the end of 2022[122]. - Current assets were HK$479,268,000, down from HK$482,583,000 at the end of 2022[122]. - Cash and cash equivalents at the end of the period were HK$48,992,000 in 2023, down from HK$81,484,000 in 2022, reflecting a decrease of 39.9%[129]. Business Operations - The significant decrease in revenue from the Jewellery Business was primarily attributed to a drop in sales in the PRC, from approximately HK$28.4 million to approximately HK$0.5 million[20]. - The Group has successfully delivered completed units in the Perfect Group Jewellery Industry Park, generating stable income from property leasing and management services[14]. - The property management company in the Perfect Group Jewellery Industry Park is now fully operational, contributing to the Group's stable income[16]. - The Group continues to face challenges from the slow recovery post-COVID-19, impacting overall performance[13]. - The jewellery business continues to focus on manufacturing and sales of various products, including rings and necklaces, while the property business involves investment and management of properties[149]. Shareholder Information - Mr. Kan holds 886,959,000 shares, representing approximately 68.16% of the company's equity[69]. - Immaculate Diamonds Limited is a substantial shareholder with 729,000,000 shares, accounting for 54.36% of the company's equity[78]. - Richemont Asset Management Limited holds 91,460,997 shares, which is about 6.82% of the company's equity[78]. - Classic Sapphire Holdings Limited owns 100,620,000 shares, representing 7.50% of the company's equity[78]. - As of June 30, 2023, no other interests or short positions were reported by directors or chief executives in the company's shares[73]. Corporate Governance - The company complied with the Corporate Governance Code provisions, except for a deviation from code provision C.2.1[83]. - The audit committee reviewed the unaudited condensed consolidated financial statements for the six months ended June 30, 2023[101]. - The company did not purchase, sell, or redeem any of its securities during the six months ended June 30, 2023[92]. - The role of chairman and chief executive officer is held by Mr. Kan Kin Kwong, who has extensive experience in the fine jewellery industry[89]. - The company expressed appreciation for the dedication and contributions of its staff and stakeholders[102]. Future Outlook - The performance of the Jewellery Business is expected to remain stable in the second half of the year compared to the first half, depending on the global economic recovery[62]. - Future strategies may include market expansion and potential new product development to enhance revenue streams[149].

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，概不對因本公佈全部或任何部份內容而產生或 因倚賴該等內容而引致的任何損失承擔任何責任。 PERFECT GROUP INTERNATIONAL HOLDINGS LIMITED 保 發 集 團 國 際 控 股 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：3326） 截至2023年6月30日止六個月之 未經審核中期業績公佈 保發集團國際控股有限公司（「本公司」，連同其附屬公司統稱「本集團」）董事 （「董事」）會（「董事會」）欣然宣佈本集團截至2023年6月30日止六個月之未經審 核簡明綜合業績，連同2022年同期之比較數字載列如下： 簡明綜合損益及其他全面收益表 截至2023年6月30日止六個月 截至6月30日止六個月 2023年 2022年 附註 千港元 千港元 （未經審核）（未經審核） 收益 3 173,468 226,635 ...

Jewellery Business Performance - The Group's Jewellery Business experienced an increase in sales orders for the year ended December 31, 2022, compared to the previous year, despite the impact of Covid-19[13]. - The performance of the Jewellery Business is expected to improve with the relaxation of Covid-19 measures starting from Q4 2022, allowing for more frequent visits to overseas customers[19]. - The Group is optimistic about the Jewellery Business in the coming months and plans to focus on developing overseas markets[19]. - The Group's sales team was able to generate more sales orders during the year due to increased visits to overseas customers[13]. - Revenue from the Jewellery Business decreased from approximately HK$338.5 million to approximately HK$326.6 million, a decrease of approximately HK$11.9 million or 3.5%[30]. - Sales to Hong Kong increased by approximately HK$47.0 million or 26.0%, from approximately HK$180.5 million to approximately HK$227.5 million[31]. - Sales to the PRC decreased significantly by approximately HK$58.8 million or 65.4%, from approximately HK$89.9 million to approximately HK$31.1 million[32]. - The gross profit margin for the Jewellery Business in Hong Kong and Dubai was approximately 28.1%, an increase from approximately 24.6% in the previous year[37]. Property Business Performance - The leasing of properties and management services in the Perfect Group Jewellery Industry Park has generated stable income for the Group[18]. - Revenue from the Property Business decreased significantly from approximately HK$68.4 million to approximately HK$47.5 million, a decrease of approximately HK$20.9 million or 30.6%[38]. - Rental income for the Property Business increased from approximately HK$14.3 million to approximately HK$15.9 million, an increase of approximately HK$1.6 million or 11.2%[38]. - The rental and management fee income from the Property Business will continue to contribute steadily to the Group's overall performance[19]. Financial Performance Overview - Overall revenue decreased from approximately HK$407.0 million to approximately HK$374.0 million, representing a decrease of approximately HK$33.0 million or 8.1%[26]. - Overall gross profit increased from approximately HK$101.8 million to approximately HK$114.7 million, an increase of approximately HK$12.9 million or 12.7%[42]. - Gross profit increased from approximately HK$66.1 million to approximately HK$85.1 million, an increase of approximately HK$19.0 million or 28.7%[37]. - Other income increased from approximately HK$1.9 million to approximately HK$3.5 million, a significant increase of approximately HK$1.6 million or 84.2%[43]. - Profit after taxation for the year ended 31 December 2022 was approximately HK$27.4 million, a decrease of approximately HK$10.9 million or 28.5% compared to 2021[58]. Expenses and Liabilities - General and administrative expenses increased from approximately HK$42.6 million in 2021 to approximately HK$49.3 million in 2022, representing an increase of approximately HK$6.7 million or 15.7%[52]. - Selling and distribution costs increased from approximately HK$10.6 million in 2021 to approximately HK$10.8 million in 2022, representing an increase of approximately HK$0.2 million or 1.9%[51]. - Current assets decreased from approximately HK$526.5 million as at 31 December 2021 to approximately HK$482.6 million as at 31 December 2022, a decrease of approximately HK$43.9 million or 8.3%[61]. - Current liabilities decreased from approximately HK$186.7 million as at 31 December 2021 to approximately HK$158.2 million as at 31 December 2022, a decrease of approximately HK$28.5 million or 15.3%[67]. - Trade and other payables amounted to approximately HK$60.7 million as at 31 December 2022, an increase from approximately HK$57.3 million as at 31 December 2021[68]. Credit Risk and Guarantees - The Group's maximum exposure to credit risk is the carrying amount of financial assets stated in the consolidated statement of financial position[86]. - Impairment losses under the expected credit loss model included provisions of approximately HK$16.9 million for trade receivables in the PRC and approximately HK$3.8 million for a loan receivable from an associate[53]. - The Group provided guarantees amounting to approximately RMB13.0 million (equivalent to approximately HK$14.7 million) as of 31 December 2022, a decrease from RMB45.7 million (equivalent to approximately HK$55.9 million) in 2021[102]. Corporate Governance and Management - The Board intends to maintain a balance between dividend distribution and adequate cash flow to create long-term value for shareholders[91]. - The Group's financial position as of 31 December 2022 reflects its investment holding activities[143]. - The Directors are pleased to present the annual report to all shareholders, highlighting the Group's performance[141]. - The independent non-executive Directors confirmed that the continuing connected transactions under the Hong Kong Tenancy Agreement are conducted in the ordinary course of business and in the interests of the Company and shareholders[191]. - The company has received annual confirmation of independence from all independent non-executive directors, who are considered independent[173]. Employee and Operational Insights - The Group's total salaries and related costs for the year ended 31 December 2022 amounted to approximately HK$29.7 million, an increase from HK$28.2 million for the year ended 31 December 2021[100]. - As of 31 December 2022, the Group had approximately 150 employees, up from 128 employees as of 31 December 2021[100]. - The executive directors regularly review revenue analysis from the sales and manufacturing of jewellery products and property development, identifying two main operating activities[149]. Dividends and Shareholder Information - The company did not declare any interim dividend for the six months ended June 30, 2022, and proposed a final dividend of HK$0.02 per share for the year ended December 31, 2022[144]. - As of December 31, 2022, the company had approximately HK$327,486,000 in distributable reserves, down from approximately HK$355,502,000 as of December 31, 2021[158]. - The company will close its register of members from June 9, 2023, to June 14, 2023, for the proposed final dividend payment[146].