（於開曼群島註冊成立之有限公司） 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通知之內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示概不會就因本通知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。 JU TENG INTERNATIONAL HOLDINGS LIMITED 張勵研 香港，二零二五年八月五日 於本通知日期，執行董事為鄭立育先生、邱輝欽先生、黃國光先生、徐容國先生及王挺進先 生；非執行董事為鄭立彥先生；及獨立非執行董事為葉偉明先生、袁志豪先生及莊淑惠博士。 (1) 省覽及通過本公司及其附屬公司截至二零二五年六月三十日止六個月的未經審核中期 業績，並通過於香港聯合交易所及本公司網站內刊發有關公告﹔ (2) 通過本公司截至二零二五年六月三十日止六個月的中期報告﹔ (3) 考慮及通過派發二零二五年六月三十日止六個月的中期股息（如有）﹔以及 (4) 省覽及通過其他事項（如有）。 （股份代號：3336） 董事會會議通知 巨騰國際控股有限公司（「本公司」）董事（「董事」）會（「董事會」）謹此公佈，本公司將 於二零二五年八月十五日（星期五）舉行董事會會議，目的如下 ...

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 準確性或完備性亦不發表任何聲明，並表明不會就因本公告全部或任何部份內容而產生 或因倚賴該等內容而引致之任何損失承擔任何責任。 JU TENG INTERNATIONAL HOLDINGS LIMITED （於開曼群島註冊成立之有限公司） （股份代號：3336） 海外監管公告 本公告是由巨騰國際控股有限公司（「本公司」）依據香港聯合交易所有限公司證券上市規 則第 13.10B 條作出。 以下所附是本公司按臺灣證券交易所股份有限公司的規定於二零二五年八月四日在臺灣證 券交易所股份有限公司網頁刊發的公告。 承董事會命 巨騰國際控股有限公司 主席兼執行長 香港，二零二五年八月四日 於本公告日期，執行董事為鄭立育先生、邱輝欽先生、黃國光先生、徐容國先生及王挺進 先生；非執行董事為鄭立彥先生；及獨立非執行董事為葉偉明先生、袁志豪先生及莊淑惠 博士。 -1- 【法規來源】外國發行人募集與發行有價證券處理準則§42 附表三十九 ____巨騰國際控股____有限公司 臺灣存託憑證流通及兌回情形月報表 114 年 7 月 | 項 目 | 單位數 | | ...

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: 巨騰國際控股有限公司(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) | 03336 | 說明 | 巨騰國際 | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 2,000,000,000 | HKD | | 0.1 HKD | | 200,000,000 | | 增加 / 減少 (-) | | | | | | HKD | | | | 本月底結存 | | | 2,000,000,000 | HKD | | 0.1 HKD | | 200,000,000 | 本 ...

Financial Performance - The company reported revenue of approximately HKD 6,026 million for the fiscal year 2024, a decrease of 13.1% compared to HKD 6,936 million in 2023[10]. - The loss attributable to equity holders of the company was HKD 530 million, representing an increase of 129.4% from a loss of HKD 231 million in the previous year[10]. - The basic and diluted loss per share was HKD 62.7 cents, up 129.7% from HKD 27.3 cents in 2023[10]. - The gross profit margin decreased to 2.9% from 7.3% in the previous year, a decline of 4.4 percentage points[10]. - The operating loss margin increased to -8.8% from -2.3%, reflecting a deterioration of 6.5 percentage points[10]. - The net loss margin also worsened to -8.8% from -3.3%, indicating a decline of 5.5 percentage points[10]. - The company recorded a significant increase in impairment of property, plant, and equipment to approximately HKD 304,000,000 in 2024, compared to HKD 45,000,000 in 2023[26]. - The company recorded a loss before tax of HKD 727,561, compared to a loss of HKD 166,645 in the previous year, indicating a significant increase in losses[199]. - The net loss for the year was HKD 729,882, which is a 121.1% increase from the loss of HKD 328,821 in 2023[199]. - Gross profit for the same period was HKD 173,185, down 65.9% from HKD 507,500 in 2023[199]. - Administrative expenses rose to HKD 556,402 from HKD 518,044, suggesting increased operational costs[199]. - The company incurred other expenses of HKD 313,788, significantly higher than HKD 75,122 in the previous year, indicating potential issues in cost management[199]. Cash Flow and Financial Position - The company achieved a net cash flow from operating activities of HKD 741 million, an increase of 23.9% from HKD 598 million in the previous year[10]. - The group's cash flow from operating activities increased from approximately HKD 598 million in 2023 to approximately HKD 741 million in 2024, primarily due to a decrease in inventory and trade receivables[42]. - As of December 31, 2024, total bank and other borrowings amounted to approximately HKD 2,640,000,000, a decrease of about 15.8% from HKD 3,137,000,000 the previous year[41]. - The total bank and other borrowings decreased from approximately HKD 3,137 million in 2023 to approximately HKD 2,640 million in 2024, resulting in a slight decrease in the debt ratio to approximately 25.5%[43]. - The group's inventory net value as of December 31, 2024, is HKD 1,048,338,000, with significant management judgment involved in the assessment of inventory provisions[184]. - The net value of the group's property, plant, and equipment as of December 31, 2024, is HKD 4,819,400,000, with impairment assessments based on cash-generating units[187]. Market Trends and Strategy - The global personal computer market showed a slight growth of 1.3% in 2024, but the domestic market in China experienced a significant decline in shipments[18][19]. - The demand for AI PCs is expected to drive significant growth, with global shipments projected to reach 114 million units by 2025, a 165.5% increase from 2024[21]. - The company is actively investing in production facilities in Vietnam to enhance its capacity to meet Southeast Asian demand[22]. - The company is focusing on domestic factory integration and the construction of a factory in Vietnam to reduce operating costs and enhance production flexibility[19]. - The company aims to leverage the upcoming PC replacement cycle driven by operating system upgrades and technological innovations[21]. - The company plans to continue optimizing resource allocation and production efficiency to adapt to market changes and challenges[22]. - The group is focused on developing new casing products to capture market opportunities amid competition from alternative products in the laptop and handheld device markets[53]. - The group aims to diversify its product portfolio to reduce reliance on casing products, which are currently its main revenue source[54]. Governance and Management - The management team consists of experienced professionals with extensive backgrounds in the computer and electronics industry, contributing to strategic planning and operational management[66][67][68]. - The company has established a comprehensive product quality inspection procedure to ensure all products meet quality standards[59]. - The company emphasizes occupational safety management, complying with relevant laws and regulations, and conducts regular safety training for employees[60]. - The company maintains strong relationships with key stakeholders, including employees, customers, suppliers, and shareholders, which are crucial for its success[61]. - The company has a diverse talent pool, with a robust internal promotion system to retain and motivate high-performing employees[62]. - The company prioritizes supplier management, selecting high-quality suppliers based on financial status, operational level, and product quality[64]. - The company aims to enhance shareholder value through sustainable profit growth and stable dividends, considering capital adequacy and liquidity[65]. Shareholder Information - No final dividend is recommended for the current year, consistent with the previous year[85]. - The group’s distributable reserves as of December 31, 2024, are approximately HKD 4,715,277,000[93]. - Sales to the top five customers accounted for approximately 79% of the total revenue for the year ending December 31, 2024, with the largest customer representing about 22%[95]. - The group did not purchase, sell, or redeem any of its listed securities during the year ending December 31, 2024[91]. - The company has not issued any new share capital during the year ending December 31, 2024[92]. - The company has a total of 8 senior management personnel with varying salary ranges, indicating a diverse compensation structure[105]. - The company has established a share option scheme effective from May 11, 2015, with a remaining duration of approximately one month[117]. - The company has established a share award plan to reward eligible participants for their contributions and attract suitable talent for future development[125]. Corporate Governance - The company has adopted the corporate governance code as per the Listing Rules Appendix C, ensuring compliance for the financial year ending December 31, 2024[143]. - The board consists of five executive directors, one non-executive director, and four independent non-executive directors, overseeing the company's overall management and operations[147]. - The independent non-executive directors have confirmed their compliance with the independence guidelines as per the Listing Rules[147]. - The company has established a practice of rotating directors at the annual general meeting as per its articles of association[149]. - The remuneration of directors is subject to approval by shareholders at the company's general meeting[150]. - The board held a total of six meetings and two shareholder meetings in the fiscal year ending December 31, 2024[152]. - The corporate governance committee reviewed the company's governance policies and practices during the fiscal year[156]. - The board aims to achieve at least 30% female representation by December 31, 2030, as part of its diversity policy[160]. - The gender ratio of the workforce as of December 31, 2024, is 90% male and 10% female among directors, and 56% male and 44% female among employees[161]. Risk Management - The board is responsible for maintaining a robust internal control system, with a focus on risk management and compliance processes[170]. - An independent professional was hired to conduct an annual review of the group's risk management and internal control systems for the fiscal year ending December 31, 2024[171]. - The board acknowledges that the risk management and internal control systems are designed to manage risks rather than eliminate them, providing reasonable assurance against material misstatements[172].

Financial Performance - For the fiscal year ending December 31, 2024, the company's revenue was approximately HKD 6,026 million, a decrease of about 13.1% year-on-year[3] - The gross profit for the same period was approximately HKD 173 million, down approximately 65.9% compared to the previous year[3] - The gross profit margin fell from approximately 7.3% for the year ending December 31, 2023, to about 2.9%[3] - The loss attributable to equity holders of the company was approximately HKD 530 million, compared to a loss of approximately HKD 231 million for the previous year[3] - Basic loss per share attributable to equity holders was approximately HKD 0.627, compared to HKD 0.273 for the year ending December 31, 2023[3] - Total comprehensive loss for the year was approximately HKD 1,042 million, compared to HKD 644 million in the previous year[5] - The group's pre-tax loss was impacted by a significant increase in property, plant, and equipment impairment, which rose to HKD 303,596,000 in 2024 from HKD 45,000,000 in 2023[19] - The basic loss per share increased to HKD 0.626 in 2024 from HKD 0.273 in 2023, reflecting a worsening financial performance[25] Assets and Liabilities - Non-current assets decreased from approximately HKD 6,527 million to HKD 5,729 million year-on-year[6] - Current assets decreased from approximately HKD 5,628 million to HKD 4,613 million year-on-year[6] - Total equity decreased from approximately HKD 6,757 million to HKD 5,714 million year-on-year[7] - Trade receivables decreased to HKD 2,120,561,000 in 2024 from HKD 2,490,039,000 in 2023, a reduction of approximately 14.8%[26] - The aging analysis of trade receivables showed a decline in amounts within 3 months to HKD 1,315,604,000 in 2024 from HKD 1,440,992,000 in 2023[27] - As of December 31, 2024, total bank and other borrowings amounted to approximately HKD 2,640,000,000, a decrease of about 15.8% from HKD 3,137,000,000 in the previous year[44] Revenue Sources - Revenue from customers in mainland China (excluding Hong Kong) was HKD 5,417,093,000, down 16.6% from HKD 6,495,182,000 in the prior year[14] - Major customers contributed sales of approximately HKD 1,325,689,000, HKD 1,314,717,000, HKD 954,772,000, and HKD 668,830,000, each accounting for over 10% of total sales[15] Operational Costs - The cost of goods sold decreased to HKD 5,853,135,000 in 2024 from HKD 6,428,556,000 in 2023, a decline of about 8.9%[19] - Operating costs increased by approximately 6.3% to about HKD 706,000,000, compared to HKD 664,000,000 in the previous year, with operating costs as a percentage of revenue rising to approximately 11.7% from 9.6%[39] Financing and Credit - The group has approximately HKD 1,743,267,000 in undrawn revolving credit facilities available to support its financial obligations and operations[10] - The group has outstanding receivables of approximately HKD 501,151,000 from the sale of non-current assets classified as held for sale, with HKD 84,933,000 collected after the reporting period[10] - The group has a history of successfully extending revolving loans and will continue negotiations for refinancing existing bank loans[10] - The group's financing costs decreased to HKD 182,728,000 in 2024 from HKD 214,562,000 in 2023, representing a reduction of approximately 14.8%[18] Market Outlook - The global PC market shipment volume is projected to reach 245 million units in 2024, reflecting a growth of 1.3% compared to 2023[30] - The Chinese PC market experienced a sharp decline of 12% in shipment volume in the first quarter of 2024 due to increased economic uncertainty[30] - The company maintains a cautiously optimistic outlook for the future development of the PC market, anticipating a recovery in market demand driven by economic recovery and technological innovation[35] Other Financial Metrics - Interest income increased to HKD 33,794,000 from HKD 28,167,000 year-over-year[17] - The group recorded a net foreign exchange gain of HKD 145,114,000, compared to HKD 111,780,000 in the previous year[17] - Other income and gains rose by approximately 7.8% to about HKD 301,000,000, compared to HKD 280,000,000 in the previous year, accounting for about 5.0% of total revenue[38] - The total tax expense for the year was HKD 2,321,000 in 2024, a substantial decrease from HKD 162,176,000 in 2023[23] - Income tax expenses for the year were approximately HKD 2,000,000, a significant decrease from HKD 162,000,000 in the previous year[42] Corporate Governance - The independent non-executive directors were unable to attend the annual general meeting on May 16, 2024, due to other business commitments, but all committee members were present to answer questions[59] - The company has adopted a code of conduct for directors' securities trading, ensuring compliance with the standards set forth in the listing rules[60] - There have been no significant events affecting the group from the end of the fiscal year until the announcement date[61] - The audit committee reviewed the accounting policies and financial performance of the group for the year[62] - Ernst & Young has verified the financial figures in the consolidated income statement and balance sheet for the year ending December 31, 2024, confirming consistency with the group's financial statements[63] - The annual results announcement is available on the company's website and the Hong Kong Stock Exchange[64]

Financial Performance - Revenue for the six months ended June 30, 2024, was HKD 2,999 million, a decrease of 13.4% compared to HKD 3,463 million in 2023[3]. - The net loss attributable to equity holders for the same period was HKD 69 million, compared to a loss of HKD 57 million in 2023, representing an increase of 21.1%[3]. - Basic and diluted loss per share for the period was HKD 8.1, up 20.9% from HKD 6.7 in the previous year[3]. - EBITDA for the period was HKD 356 million, down 21.2% from HKD 452 million in 2023[3]. - The company reported a loss of HKD 101,863,000 for the six months ended June 30, 2024, compared to a loss of HKD 120,716,000 for the same period in 2023, representing a 15% improvement in performance[6]. - Total comprehensive expenses for the period amounted to HKD 307,875,000, down from HKD 650,972,000 in the previous year, indicating a reduction of approximately 53%[6]. - The company recorded a pre-tax loss of HKD 155,826 for the six months ended June 30, 2024, compared to a pre-tax loss of HKD 266,452 in the same period of 2023, showing an improvement of 41.5%[18]. - The company reported a basic loss attributable to equity holders of HKD 68,699,000 for the six months ended June 30, 2024, compared to a loss of HKD 57,073,000 for the same period in 2023[22]. Profitability Metrics - Gross profit margin improved to 6.6%, up from 3.1% in the previous year, reflecting a 3.5% increase[3]. - The operating loss margin decreased to -4.9%, an improvement from -6.3% in 2023, indicating a 1.4% enhancement[3]. - The net loss margin was -2.3%, compared to -1.6% in the previous year, showing a decline of 0.7%[3]. - Other income and gains fell by about 41.5% to approximately HKD 156,000,000, primarily due to a decrease in foreign exchange gains of about HKD 104,000,000[40]. - Operating costs rose by approximately 7.0% to about HKD 347,000,000, with employee costs and transportation expenses being the main contributors[40]. Cash Flow and Liquidity - Cash flow from operating activities increased significantly to HKD 480 million, compared to HKD 178 million in the previous year, representing a 169.7% increase[3]. - For the six months ended June 30, 2024, the company reported a net cash flow from operating activities of HKD 480,098, compared to HKD 178,347 for the same period in 2023, representing an increase of 169%[11]. - The company recorded a net cash outflow from investing activities of HKD 198,952, compared to HKD 10,959 in the previous year, indicating increased investment activity[11]. - Financing activities resulted in a net cash outflow of HKD 201,682, a significant improvement from HKD 495,056 in the same period of 2023[11]. Assets and Liabilities - Non-current assets decreased to HKD 6,263,762,000 as of June 30, 2024, from HKD 6,527,161,000 at the end of 2023, reflecting a decline of about 4%[7]. - Current assets totaled HKD 5,247,116,000, down from HKD 5,628,353,000, marking a decrease of approximately 7%[8]. - The net current assets decreased to HKD 604,603,000 from HKD 948,941,000, representing a decline of about 36%[8]. - Total liabilities decreased to HKD 4,642,513,000 from HKD 4,679,412,000, showing a slight reduction of around 1%[8]. - The company's equity attributable to shareholders was HKD 5,070,602,000 as of June 30, 2024, down from HKD 5,345,443,000 at the end of 2023, indicating a decrease of approximately 5%[10]. - The company’s non-current liabilities decreased to HKD 419,448,000 from HKD 719,310,000, representing a significant reduction of about 42%[8]. Market and Strategic Outlook - The global personal computer market showed a year-on-year growth of 3.2% and 3.4% in the first two quarters of 2024, according to Canalys[37]. - The company is actively adjusting its product mix and market strategies to address weak demand and is implementing strict cost control measures[37]. - The company plans to relocate part of its production capacity to Vietnam, with the new facility expected to commence operations in the second half of 2024[37]. - The upcoming end of support for Windows 10 by Microsoft in 2025 is expected to drive a replacement demand for personal computers, with over 240 million devices potentially needing upgrades[38]. - AI PCs are projected to reach a shipment volume of 54.5 million units by the end of 2024, accounting for 22% of total PC shipments, which may enhance the company's market opportunities[38]. - The company maintains a cautiously optimistic outlook for the personal computer market despite ongoing geopolitical tensions and economic uncertainties[38]. - The company will continue to pursue cost reduction and efficiency improvement strategies to enhance operational flexibility and competitiveness[38]. Shareholder and Governance Information - The company did not recommend any interim dividend for the current period, consistent with the previous year[21]. - Major shareholders include Nanya with 303,240,986 shares, representing approximately 25.27% of the issued share capital as of June 30, 2024[73]. - The company has adopted corporate governance practices in line with the corporate governance code and regularly reviews these practices[79]. - The board believes that having the same person serve as both chairman and CEO enhances consistent leadership and effective strategy execution[79]. - The company has not granted any awards under the share incentive plan as of June 30, 2024[72]. Stock Options and Incentive Plans - The company has a stock option plan that allows for the exercise of options within a specified period, with the latest options expiring in 2024[58]. - The total number of stock options granted includes 12,252,800 options with an exercise price of HKD 1.48, valid until August 31, 2024[63]. - The stock reward plan aims to attract suitable talent to drive future development, with contributions from eligible participants being recognized[67]. - The vesting period for stock rewards is defined as ten working days after the date determined by the board or the date when performance targets are met[69]. - The company has made amendments to the stock reward plan to allow existing shares to meet future awards without needing to purchase new shares[67].

Revenue and Profitability - Revenue for the six months ended June 30, 2024, was approximately HKD 2,999 million, a decrease of about 13.4% year-on-year[1] - Gross profit for the same period was approximately HKD 199 million, an increase of about 84.9% year-on-year, with a gross margin rising from approximately 3.1% to 6.6%[1] - Loss attributable to equity holders of the company was approximately HKD 69 million, compared to a loss of approximately HKD 57 million in the same period of 2023[1] - Basic loss per share attributable to equity holders was approximately HKD 8.1 cents, compared to HKD 6.7 cents in the same period of 2023[2] - The company reported a pre-tax loss of approximately HKD 94.6 million for the six months ended June 30, 2024, compared to a pre-tax loss of approximately HKD 96.4 million in the same period of 2023[2] - Other income and gains for the period were approximately HKD 155.8 million, down from HKD 266.5 million in the same period of 2023[2] - The company recorded a loss attributable to equity holders of approximately HKD 69,000,000 for the first half of 2024, compared to a loss of HKD 57,000,000 in the same period of 2023[22] - Other income and gains fell by about 41.5% to approximately HKD 156,000,000, down from HKD 266,000,000, primarily due to a decrease in foreign exchange gains[26] Assets and Liabilities - Total non-current assets as of June 30, 2024, amounted to approximately HKD 6,263 million, down from HKD 6,527 million as of December 31, 2023[4] - Current assets totaled approximately HKD 5,247 million as of June 30, 2024, compared to HKD 5,628 million as of December 31, 2023[4] - Current liabilities were approximately HKD 4,642 million as of June 30, 2024, slightly down from HKD 4,679 million as of December 31, 2023[4] - Non-current liabilities decreased significantly to HKD 419,448 from HKD 719,310, representing a reduction of 41.7%[5] - The company's net asset value as of June 30, 2024, was HKD 6,448,917, down from HKD 6,756,792, indicating a decline of 4.5%[5] - The company’s total equity as of June 30, 2024, was HKD 6,448,917, down 4.5% from HKD 6,756,792 as of December 31, 2023[5] Cash Flow and Financing - The total bank and other borrowings as of June 30, 2024, were approximately HKD 2,972,000,000, a decrease from HKD 3,137,000,000 as of December 31, 2023[28] - The net cash flow from operating activities increased from approximately HKD 178 million to approximately HKD 480 million, primarily due to a decrease in trade receivables and inventory[29] - The group recorded a net cash outflow from investing activities of approximately HKD 199 million due to the purchase of production equipment for a new factory in Vietnam[29] - The debt-to-asset ratio remained stable at approximately 25.8%[29] Operational Performance - The company continues to focus on its core business of producing and selling notebook computer casings and handheld device casings, with no additional reportable segments identified[9] - The cost of goods sold decreased to HKD 2,799,904,000 from HKD 3,355,613,000 year-on-year[14] - Operating costs rose by approximately 7.0% to about HKD 347,000,000, compared to HKD 325,000,000 in the previous year, mainly due to increased employee costs and transportation expenses[26] - Employee costs were recorded at approximately HKD 952 million, down from HKD 987 million in the previous year, with the workforce reduced to about 20,000 employees[33] Market Outlook - The company faced challenges in the Chinese PC market, with a year-on-year decline in shipments of 12% in the first quarter of 2024[22] - The company anticipates a recovery in global personal computer sales driven by an increase in replacement demand as older PCs reach the end of their lifecycle[24] - The upcoming discontinuation of support for Windows 10 by Microsoft in 2025 is expected to accelerate the replacement cycle, with over 240 million devices potentially incompatible with Windows 11[24] - AI PCs are projected to reach a shipment volume of 54.5 million units by the end of 2024, accounting for 22% of total PC shipments, which is expected to drive market growth[24] - The company is actively adjusting its operational strategies and optimizing production resources to enhance efficiency and maintain competitiveness in a changing global market[23] Inventory and Receivables - Inventory turnover days decreased to approximately 88 days, with inventory down by approximately 12.5% to about HKD 1,347 million[30] - Trade receivables decreased by approximately 11.0% to about HKD 2,212 million, with turnover days slightly increasing to approximately 134 days[30] - The net trade receivables decreased to HKD 2,212,185,000 as of June 30, 2024, from HKD 2,486,447,000 as of December 31, 2023[19] Tax and Dividends - The total tax expense for the current period was HKD 7,304,000, significantly lower than HKD 24,309,000 in the previous year[16] - The company did not declare any interim dividends for the current period, similar to the previous year[17]

Continuous Connected Transactions - The company conducted continuous connected transactions during the year ended December 31, 2023, as disclosed under Listing Rule 14A.49, involving Renbao, a major shareholder of Huayuan Technology Holdings Limited, a non-wholly owned subsidiary of the company[1] - The company appointed Ernst & Young as auditors to report on the continuous connected transactions, and Ernst & Young issued an unmodified opinion letter confirming compliance with Listing Rule 14A.56[2] Corporate Governance and Board Activities - The company's Board of Directors held four meetings and one shareholders' meeting during the year ended December 31, 2023, with attendance records provided for each director[11] - The company's Corporate Governance Committee consists of six members, including independent non-executive directors and executive directors, with Mr. Ye Weiming serving as the chairman[13] - The company's Board of Directors has adopted a written policy for nominating new directors, emphasizing the candidate's ability to dedicate sufficient time and effort to the company's affairs and contribute to a diverse board[16] - The company achieved measurable goals for board diversity, including ensuring at least one-third of board members hold a university degree or higher and maintaining an age distribution of at least 20 years among board members[18] - The company's shareholders can submit proposals for consideration at general meetings by providing written notice and detailed contact information[31] - The company has received annual independence confirmation letters from all four independent non-executive directors, confirming their independent status as of the report date[193] - Cheng Jiajun was appointed as an independent director of Panorama Software Co., Ltd. (stock code: 8272.TT) on September 7, 2023[195] - The service agreements for Qiu Huiqin and Lin Fengjie, both executive directors, are initially fixed for three years starting from March 1, 2017, with automatic annual renewals thereafter[196] - Independent non-executive director Cheng Jiajun has a two-year appointment contract with the company, effective from July 31, 2008, with automatic annual renewals[199] - Independent non-executive director Ye Weiming has a two-year appointment contract with the company, effective from May 25, 2006, with automatic annual renewals[200] Audit and Financial Reporting - The company's Audit Committee oversees the financial reporting process, risk management, and internal control systems, ensuring adequate resources and qualifications for accounting and financial reporting functions[21] - The company's external auditors confirmed their responsibilities for the independent auditor's report included in the consolidated financial statements for the year ended December 31, 2023[24] - The company's audit fees for the year amounted to HKD 4,380,000, with non-audit services costing approximately HKD 1,809,000, including tax compliance services (HKD 536,000), interim results agreed-upon procedures (HKD 580,000), and ESG report services (HKD 160,000)[49] - The audit committee held six meetings during the year, with attendance details provided for each member[47] - The company's audit procedures included evaluating the appropriateness of the going concern basis and identifying any material uncertainties that could impact the group's ability to continue as a going concern[34] - The company's audit committee assists the board in overseeing the financial reporting process and reviewing actions taken to address internal control and risk management deficiencies[40] - The company's audit partner for the independent auditor's report is Kwong Ka Yan[43] Financial Performance and Metrics - The company's revenue for 2023 decreased by 16.0% to approximately HKD 6,936,000,000 compared to HKD 8,256,000,000 in 2022 due to global inflation, economic downturn, and geopolitical events[79] - The company's gross margin increased to 7.3% in 2023 from 5.6% in 2022, driven by improved economies of scale and cost efficiency in the second half of the year[79] - The company recorded a net loss attributable to shareholders of HKD 231,000,000, compared to a profit of HKD 172,000,000 in 2022[110] - Revenue for the year decreased by approximately 16% to HKD 6,936,000,000 compared to HKD 8,256,000,000 in 2022[110] - Gross margin improved to 7.3% from 5.6% in 2022[110] - Net loss attributable to equity holders was HKD -231 million, a significant decline of 234.1% from a profit of HKD 172 million in 2022[126] - EBITDA decreased by 36.3% to HKD 882 million from HKD 1,385 million in 2022[126] - Inventory turnover days decreased to 87 days, a 15.5% improvement from 103 days in 2022[126] - Revenue for 2023 was HKD 6,936 million, a decrease of 16% compared to HKD 8,256 million in 2022[126] - The company recorded a net loss attributable to equity holders of approximately HKD 231 million (2022: net profit of HKD 172 million), mainly due to decreased revenue, other income, and increased financing costs[166] - Total bank and other borrowings decreased by 22.4% to approximately HKD 3,137 million (2022: HKD 4,043 million)[166] - Net cash flow from operating activities decreased to approximately HKD 598 million (2022: HKD 2,256 million), primarily due to pre-tax losses and a reduction in trade receivables[167] - Net cash outflow from investing activities was approximately HKD 112 million (2022: HKD 491 million), as the new production facility in Suzhou was completed in 2022[167] - Net cash outflow from financing activities was approximately HKD 962 million (2022: HKD 836 million), mainly due to the repayment of bank borrowings[167] - Cash and bank balances stood at approximately HKD 1,222 million as of December 31, 2023 (2022: HKD 1,707 million)[167] - Trade receivables turnover days increased to approximately 131 days (2022: approximately 107 days), mainly due to lower revenue in the second half of 2022 compared to the first half, resulting in lower trade receivables turnover days in 2022[168] - Trade receivables increased by approximately 2.7% to approximately HKD 2,486,000,000 as of December 31, 2023, compared to HKD 2,421,000,000 as of December 31, 2022[168] - The company's net book value of certain land and buildings used as collateral for bank credit was approximately HKD 20,000,000 as of December 31, 2023 (2022: approximately HKD 20,000,000)[169] Risk Management and Internal Controls - The company's risk management framework is integrated into strategic development, business planning, and daily operations, with regular assessments and management of risk forecasts[52] - The company's inventory provision assessment involved reviewing sample inventory age, historical sales, usage records, and post-period-end inventory usage and sales[37] - The company's audit committee assists the board in overseeing the financial reporting process and reviewing actions taken to address internal control and risk management deficiencies[40] Workforce and Employee Costs - The company's workforce gender ratio as of December 31, 2023, is disclosed in the annual report[45] - The company has approximately 23,000 employees, down from 30,000 in 2022, with employee costs of HKD 1,856,000,000 compared to HKD 2,481,000,000 in 2022[118] - Operating costs decreased by 17.6% to approximately HKD 664 million (2022: HKD 806 million), mainly due to reductions in employee costs, export fees, and transportation expenses[166] - Rising labor costs in China have negatively impacted the company's profitability[148] Production and Operational Strategies - The net book value of the company's property, plant, and equipment as of December 31, 2023, was HKD 5,679,602,000, related to the production and sale of laptop and handheld device casings[63] - The company has been investing in production robots to replace manual labor, aiming to improve efficiency and reduce reliance on labor amidst rising labor and production costs[88] - The company is focusing on optimizing product portfolios and operational strategies to secure higher-priced metal casing orders and expand market share[104] - The company has extended its production capacity to Southeast Asia to reduce costs and improve efficiency[106] - The company acquired land use rights in Vietnam to establish a production facility, aiming to mitigate rising production and labor costs in China[132] - The company is focusing on optimizing production efficiency and cost control through factory consolidation and resource integration in China[132] - The company is relocating part of its production capacity to Vietnam to achieve cost reduction and efficiency improvement, with construction contracts signed for a new factory in Vietnam[136] - The company plans to expand its product portfolio, improve product quality, and focus on developing new products to diversify revenue sources[146] - The company will continue to invest in advanced equipment to maintain product quality and expand its product portfolio to enhance its reputation in the industry[147] - The company is focusing on developing new metal casing products with advanced technologies and materials to meet market demand for high-end, durable, and sleek designs[120] Market and Industry Trends - The company's revenue for 2023 was approximately HKD 6,936,000,000, a 16% decrease compared to 2022, driven by a 14.8% decline in global PC shipments to 242 million units[103] - The company's core products, notebook and 2-in-1 PC casings, faced challenges due to geopolitical conflicts, high inflation, and reduced PC demand post-pandemic, but sales decline narrowed in the second half of the year through supply chain adjustments and strategic changes[104] - The company anticipates a recovery in PC demand driven by AI-enabled PCs, which are expected to capture 19% market share in 2024, and the end of Windows 10 support in 2025, which may accelerate device replacement[105] - The company expects the personal computer market to recover in 2024, driven by AI and Windows system updates[107] - Global PC shipments in 2023 totaled 242 million units, a 14.8% decline from 2022, marking the worst year for the PC industry since 2006[135] - Q4 2023 global PC shipments increased by 0.3% to 63 million units, ending seven consecutive quarters of decline[135] - The company anticipates a recovery in the PC market in 2024, driven by AI advancements and Windows OS updates[129] - Global notebook demand weakened due to uncertain international financial situation, geopolitical conflicts, and high inflation, leading to prolonged high inventory levels[136] - The global PC market is expected to recover in 2024, with AI-compatible PCs predicted to account for 60% of all PC shipments by 2027, providing growth momentum for the company[137] - The company faces challenges from new substitutes in the notebook and handheld device markets, hindering recovery from this year's weak performance[138] Other Financial Metrics and Transactions - Inventory turnover days decreased to 87 days from 103 days in 2022[116] - Inventory value decreased by 29.9% to HKD 1,539,000,000 as of December 31, 2023, compared to HKD 2,194,000,000 in 2022[116] - Foreign exchange gains amounted to HKD 112,000,000, down from HKD 395,000,000 in 2022[113] - Capital commitments for the acquisition of buildings, machinery, and office equipment amounted to HKD 253,000,000 as of December 31, 2023, up from HKD 93,000,000 in 2022[118] - Other income and gains decreased by 74.4% to approximately HKD 280 million in 2023, compared to HKD 1,094 million in 2022, mainly due to the absence of gains from the sale of property, plant, and equipment, and a decrease in foreign exchange gains[140] - Trade payables and notes turnover days increased to 51 days in 2023 from 39 days in 2022, with trade payables and notes rising by 8.3% to approximately HKD 891 million[143] - Other expenses decreased by 80.8% to approximately HKD 75 million (2022: HKD 392 million), driven by a significant reduction in impairment losses on property, plant, and equipment, and no goodwill impairment[166] - Financing costs increased by 76.5% to approximately HKD 215 million (2022: HKD 122 million), primarily due to higher US dollar loan interest rates[166] Client and Supplier Relationships - The company's clients are primarily global renowned notebook computer manufacturers and brand owners, with no long-term sales contracts in place with any major clients[176] - The company actively seeks new clients to mitigate potential negative impacts on business and profitability if any major client ceases purchasing[176] - Sales to the top five customers accounted for approximately 82% of the company's annual revenue as of December 31, 2023, with the largest customer contributing about 24%[191] - Purchases from the top five suppliers constituted less than 30% of the total procurement for the year ended December 31, 2023[191] Management and Operational Focus - The company emphasizes professional division of labor and teamwork in management, particularly focusing on on-site management to continuously improve quality and technology[175] - The company places high importance on supply chain management, selecting high-quality suppliers through transparent procedures and prioritizing those with strong social responsibility[176] - The company's executive director, Lin Fengjie, is responsible for overseeing new technology development within the group[180] Shareholder Value and Dividends - The company is committed to enhancing shareholder value through sustainable profit growth and stable dividends, considering capital adequacy, liquidity, and business expansion needs[89] - The company's borrowing ratio decreased to approximately 25.8% as of December 31, 2023, down from 28.5% in the previous year, primarily due to a reduction in total bank and other borrowings to HKD 3,137,000,000 from HKD 4,043,000,000[93] Capital and Share Issuance - The company did not issue any shares during the year ended December 31, 2023[190]

Financial Performance - The company's revenue for the year was approximately HKD 6,936,000,000, a decrease of about 16% compared to HKD 8,256,000,000 in the previous year[9] - The company recorded a loss attributable to equity holders of approximately HKD 231,000,000, compared to a profit of HKD 172,000,000 in the previous year[14] - The group reported a loss of HKD 328.8 million for the year, compared to a profit of HKD 58.1 million in 2022, indicating a significant decline in profitability[36] - The total comprehensive expenses for the year amounted to HKD 644.2 million, down from HKD 1,039 million in the previous year[36] - The basic loss per share attributable to equity holders was approximately HKD 27.3 cents, compared to a basic earnings per share of approximately HKD 20.4 cents for the previous year[58] - The gross profit for the same period was approximately HKD 508,000,000, an increase of about 9.4% year-on-year[58] Revenue Breakdown - Revenue from the China market (excluding Hong Kong) was HKD 6,495 million, down from HKD 7,943 million in the previous year, representing a decline of approximately 18%[45] - Revenue from China (excluding Hong Kong) decreased to HKD 6,031,433,000 in 2023 from HKD 7,065,638,000 in 2022, representing a decline of approximately 14.6%[67] - Revenue from Vietnam increased to HKD 307,987,000 in 2023, up from HKD 272,034,000 in 2022, marking a growth of about 13.2%[67] Cost and Expenses - Other expenses decreased by approximately 80.8% to about HKD 75,000,000, compared to HKD 392,000,000 in the previous year, primarily due to reduced impairment losses[13] - The group’s financing costs totaled HKD 214.6 million, an increase from HKD 121.6 million in 2022, reflecting higher interest expenses on bank and other loans[50] - The group recorded a significant increase in withholding tax expenses of approximately HKD 93,000,000 due to higher dividends from its subsidiaries in mainland China[9] - Operating costs decreased by approximately 17.6% to HKD 664,000,000 in 2023 from HKD 806,000,000 in 2022, with the operating cost as a percentage of revenue slightly declining to about 9.6%[80] Assets and Liabilities - Total non-current assets decreased from approximately HKD 7,545,933,000 in 2022 to approximately HKD 6,527,161,000 in 2023[61] - Current assets decreased from approximately HKD 6,643,997,000 in 2022 to approximately HKD 5,628,353,000 in 2023[61] - Total liabilities decreased from approximately HKD 5,614,298,000 in 2022 to approximately HKD 4,679,412,000 in 2023[62] - The total equity attributable to equity holders decreased from approximately HKD 7,443,287,000 in 2022 to approximately HKD 6,756,792,000 in 2023[62] Market Outlook - The company expects a gradual return to balance in supply and demand in the global personal computer market, with potential growth in 2024 driven by AI developments and operating system updates[10] - The global PC market experienced a decline of 14.8% in shipments, totaling 242 million units in 2023, the lowest since 2006[76] - The company anticipates a gradual recovery in the PC market towards the end of 2023, following a period of declining shipments[76] Foreign Exchange and Risk Management - The group has implemented forward foreign exchange contracts to mitigate potential foreign exchange losses due to fluctuations in the USD/CNY exchange rate[19] - The group’s management will continue to monitor foreign exchange risks and adopt conservative measures to reduce adverse impacts from currency fluctuations[19] Employee and Production Changes - The number of employees decreased to approximately 23,000 in 2023 from about 30,000 in 2022, with employee costs (excluding directors' remuneration) at approximately HKD 1,856,000,000, down from HKD 2,481,000,000[87] - The group plans to relocate part of its production capacity to Vietnam to adapt to global supply chain changes, with construction contracts for the new facility already established[103] - The group expects to enhance production efficiency and flexibility in response to downstream manufacturers' supply chain requirements in Vietnam[103] Capital and Investments - As of December 31, 2023, the group had capital commitments of approximately HKD 253,000,000 for the acquisition of buildings, machinery, and office equipment, up from HKD 93,000,000 in 2022[88] Dividend and Shareholder Returns - The board does not recommend a final dividend for the year, compared to a dividend of HKD 0.05 per share in 2022[90] Auditor and Compliance - The consolidated financial statements for the year ended December 31, 2023, have been verified by the company's auditor, Ernst & Young, ensuring consistency with the reported figures[119] - The board of directors has reviewed the accounting policies and financial performance of the group for the year[121]

Financial Performance - Revenue for the six months ended June 30, 2023, was HKD 3,463 million, a decrease of 26.9% compared to HKD 4,736 million in the same period of 2022[11]. - The net loss attributable to equity holders for the same period was HKD 57 million, representing a decline of 149.8% from a profit of HKD 115 million in 2022[11]. - Basic and diluted earnings per share for the period were both HKD (6.7), down 149.3% from HKD 13.6 in the previous year[11]. - Gross profit margin decreased to 3.1% from 10.5%, reflecting a decline of 7.4 percentage points[11]. - Operating loss margin was reported at -6.3%, down 8.1 percentage points from 1.8% in the prior year[11]. - The net loss margin was -1.6%, a decrease of 4.0 percentage points compared to 2.4% in 2022[11]. - The company reported a significant drop in EBITDA, with a figure of HKD 452 million, down 42.9% from HKD 790 million in the previous period[11]. - The company reported a loss of HKD 120,716 for the six months ended June 30, 2023, compared to a profit of HKD 105,096 in the same period of 2022[26]. - The group reported a loss attributable to equity holders of approximately HKD 57,000,000, compared to a profit of approximately HKD 115,000,000 in the previous year[100]. Cash Flow and Liquidity - The net cash flow from operating activities for the six months ended June 30, 2023, was HKD 178,347, a significant decrease from HKD 764,130 in the same period of 2022[16]. - The company’s cash flow from financing activities was negative HKD 495,056 for the six months ended June 30, 2023, compared to negative HKD 138,990 in the same period of 2022[16]. - The company’s cash and bank balances as of June 30, 2023, were approximately HKD 1,359,000,000, down from HKD 1,707,000,000 as of December 31, 2022[105]. - The net cash used in investing activities was HKD 10,959 for the six months ended June 30, 2023, a significant improvement from HKD 325,986 in the same period of 2022[16]. Assets and Liabilities - The total non-current assets as of June 30, 2023, amounted to HKD 6,857,483, a decrease from HKD 7,545,933 at the end of 2022[28]. - The company’s total liabilities as of June 30, 2023, were HKD 5,003,381, compared to HKD 5,614,298 at the end of 2022[28]. - The net debt to equity ratio was 34.3%, down 11.3% from 45.6% in the previous year[11]. - The total equity attributable to equity holders decreased to HKD 5,464,664,000 from HKD 6,038,383,000, reflecting a decline of approximately 9.5%[30]. - Non-current liabilities decreased to HKD 923,964,000 from HKD 1,132,345,000, a reduction of about 18.4%[30]. Market and Demand - Revenue from Mainland China (excluding Hong Kong) for the six months ended June 30, 2023, was HKD 3,302,124,000, down from HKD 4,603,801,000 in the same period of 2022, a decline of about 28.3%[38]. - The global PC market saw a 33% decline in total shipments in Q1 2023, with a total of 54 million units shipped, marking four consecutive quarters of double-digit declines[76]. - The company experienced a significant reduction in demand for computer casings due to the overall weak shipment volume in the first half of 2023[76]. - The company anticipates a gradual recovery in global personal computer market demand in the second half of 2023, driven by the upcoming Windows 11 update and hardware performance upgrades[78]. - The group expects to benefit from the potential growth in the personal computer market, with market research predicting a rebound in 2024[78]. Operational Efficiency - Inventory turnover days improved to 89 days from 109 days, a reduction of 18.3%[11]. - Operating costs decreased by approximately 21.2% to about HKD 325,000,000, down from HKD 412,000,000 in the previous year, primarily due to declines in exports, employee costs, and transportation expenses[81]. - The group aims to optimize its production system to enhance product quality and efficiency in preparation for future growth in the personal computer market[77]. - The group has implemented cost-reduction measures and integrated production facilities to improve resource allocation and cost-effectiveness[77]. Corporate Governance - The company has adopted the corporate governance code as per the listing rules and regularly reviews its governance practices[154]. - The company believes that appropriate corporate governance practices are essential for its sustainable development and actively implements such practices[175]. - The company’s board of directors will continue to review the management structure and make necessary changes as needed[176]. - The company has adopted a code of conduct for directors regarding securities trading, which meets or exceeds the standards set by the relevant guidelines[180]. Employee and Compensation - The company had approximately 23,000 employees as of June 30, 2023, compared to about 34,000 employees in 2022[128]. - Employee costs for the period were recorded at approximately HKD 987,000,000, down from HKD 1,520,000,000 in 2022[128]. - The company has capital commitments of approximately HKD 64,000,000 for the acquisition of buildings, machinery, and office equipment as of June 30, 2023, down from HKD 93,000,000 as of December 31, 2022[129]. Shareholder Information - The company reported a total issued share capital of 1,200,008,445 shares as of June 30, 2023, with significant shareholders holding approximately 27.81% of the total issued capital[171]. - The company’s major shareholder, Nanya, holds 25.27% of the total issued shares, indicating a strong ownership concentration[168]. - The company did not purchase, sell, or redeem any of its listed securities during the reporting period[173].