Group 1: Consumer Electronics Sector - The consumer electronics sector saw a collective rise, with Kosen Technology (603626) hitting its fourth consecutive daily limit up [1][4] - Other companies in the sector, such as Huaying Technology and Chaoyang Technology, also reached their daily limit up [4] Group 2: Brokerage Sector - The brokerage sector experienced a midday surge, with Harbin Investment Co. rising over 8% before retreating, while Guojin Securities increased by over 4% [3] Group 3: Wine Industry - The wine sector continued its strong performance, with companies like Jiu Gui Jiu hitting the daily limit up, and others such as Shede Liquor and Gujing Gong Jiu also seeing gains [7] - Citic Securities reported that the wine industry is rapidly bottoming out, with leading companies likely to benefit from current adjustments in channel structures [7] Group 4: Photovoltaic Sector - The photovoltaic sector showed strong performance at the market open, with companies like Yamaton quickly hitting the daily limit up [8] - A meeting held on August 19 by the Ministry of Industry and Information Technology focused on regulating the photovoltaic industry, aiming to curb low-price competition and manage project investments [8][9] - The National Bureau of Statistics reported a 0.2% month-on-month decline in the Producer Price Index (PPI) for July, with the price drop for photovoltaic equipment narrowing by 0.8% compared to the previous month [8] Group 5: Oriental Selection - Oriental Selection's stock rebounded significantly after a sharp decline due to rumors about its CEO, with the stock rising over 11% after a previous drop of 20.89% [10][12] - The company issued a statement denying the rumors and clarified that its average commission rate is below 20%, contrary to claims of over 30% [12]

Market Overview - The US stock market was closed on July 4th for Independence Day [1] Hong Kong Stock Market Highlights - Yum China (09987) rose over 3% after announcing the establishment of an innovation fund to convert operational needs into practical applications [2] - H&H International Holdings (01112) fell over 7%, expecting a 45% to 65% decline in net profit for the first half of the year [2] - China Rare Earth Holdings (03788) surged nearly 9% as it plans to spin off its gold business for independent listing on the Hong Kong Stock Exchange, potentially seeking financing before the spin-off [2] - Health Road (02587) jumped over 18% as its controlling shareholder voluntarily extended the lock-up period, focusing on digital health services [2] - Smoore International (06969) increased over 5% with the launch of Glo Hilo in Japan, maintaining high profit margins [2] - Tencent Music (01698) rose nearly 3% as institutions noted that recent acquisition plans would enhance overall content supply [2] - Jihong Co., Ltd. (02603) surged over 7%, with a projected net profit increase of over 55% year-on-year for the first half [2] - Solar stocks collectively declined, with Xinyi Solar (00968) down 4.86%, Fuyao Glass (06865) down 3.88%, New Energy (01799) down 3.19%, and Xinyi Glass (00868) down 2.64% [2] Other Notable Movements - Kuaishou-W (01024) rose over 3% as it plans to launch a live streaming initiative across multiple cities to create a collaborative ecosystem [3] - Gold stocks faced pressure, with Shandong Gold (01787) down 5.09%, China Gold International (02099) down 3.44%, Lingbao Gold (03330) down 2.68%, and Chifeng Jilong Gold (06693) down 2.33% [3] - China Shipbuilding Defense (00317) increased over 3% after the approval of a merger and acquisition restructuring plan, optimizing resources in the shipbuilding industry [3] - Medical device stocks saw a broad increase, with Spring Medical (01858) up 6.36%, Yongsheng Medical (01612) up 7.27%, Xinwei Medical-B (06609) up 3.55%, and Microneuroscience (02172) up 1.12% [3] - Some stablecoin concept stocks rose, with Victory Securities (08540) up 6.9%, Guotai Junan International (01788) up 5.15%, Yika (09923) up 2.59%, and China Everbright Holdings (00165) up 1.96% [3] - SF Express City (09699) rose nearly 7% amid intensified competition in the food delivery sector, with expectations of increased order volume [3] - HSSP International (03626) fell over 20% after being named by the Hong Kong Securities and Futures Commission for high stock concentration [3] Strategic Partnerships and New Listings - Shengye (06069) opened nearly 15% higher after forming a strategic partnership with Stand Robot to enhance its robotics industry chain [4] - Beverage stocks opened high, with Cha Bai Dao (02555) up 15%, Nayuki's Tea (02150) up 9.87%, Gu Ming (01364) up 5.77%, Hu Shang Ayi (02589) up 2.99%, and Mixue Group (02097) up 2.92% [4] - FWD Group (01828) had a flat opening on its first day of listing, being a life insurance company under Li Zeqiang's control [4]

(d) 独立非执行董事冯寳仪女士已辞任独立非执行董事，并不再担任提名委员会主席及本公司审核委员 会(审核委员会)及薪酬委员会的成员，自生效日期起生效。 (b) 执行董事冯文锦先生(冯文锦先生)已辞任执行董事，自生效日期起生效。 (c) 执行董事冯家柱先生已辞任执行董事，并不再担任薪酬委员会及提名委员会的成员，自生效日期起 生效。诚如综合文件所披露，于彼辞任上述职务后，冯家柱先生将继续留任从事印刷、食品及日用品、 以及餐厅经营业务的本公司主要附属公司的董事或管理层，以确保管理的连续性。 智通财经APP讯，HSSP INTL(03626)发布公告，自2025年6月16日(生效日期)(交易时段后及要约截止后) 起生效：自2025年6月16日(生效日期)(交易时段后及要约截止后)起生效： (a) 董事会主席(主席)、行政总裁及执行董事冯文伟先生(冯文伟先生)已辞任主席、行政总裁及执行董 事，并不再担任本公司薪酬委员会(薪酬委员会)及提名委员会(提名委员会)的成员，自生效日期起生 效。诚如本公司与要约人于2025年5月26日联合刊发的综合文件(综合文件)所披露，于彼辞任上述职务 后，冯文伟先生将继续留任从事印刷、食品及 ...

Financial Reporting Compliance - The interim financial report for Hang Sang (Siu Po) International Holding Company Limited as of December 31, 2024, has been reviewed and is in compliance with HKAS 34[20]. - The company is required to prepare the interim financial report in accordance with the relevant provisions of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited[14]. - The independent review was conducted in accordance with Hong Kong Standard on Review Engagements 2410, which involves inquiries and analytical procedures[19]. - No significant matters were identified that would lead to a belief that the interim financial report is not prepared in all material respects according to HKAS 34[20]. - The report is part of the interim financial reporting requirements set by the Hong Kong Institute of Certified Public Accountants[14]. - The interim financial report was prepared in accordance with HKAS 34 and has been reviewed by the Company's Audit Committee[40]. - The Group has not applied any new standards or interpretations that are not yet effective for the current accounting period[51]. - The Group has not adopted any new standards or interpretations that are not yet effective as of the reporting date[55]. Financial Performance - Revenue for the six months ended December 31, 2024, increased to HK$46,902,000, representing a 65% growth compared to HK$28,377,000 in the same period of 2023[23]. - Gross profit for the period was HK$16,118,000, up 92% from HK$8,388,000 year-over-year[23]. - Profit before income tax was HK$1,870,000, a significant recovery from a loss of HK$3,392,000 in the previous year[23]. - Total comprehensive income for the period was HK$1,705,000, compared to a loss of HK$3,387,000 in the same period last year[23]. - Earnings per share attributable to owners of the Company improved to HK$0.87 cents from a loss of HK$1.84 cents[23]. - The Group recorded revenue of approximately HK$46.9 million for the six months ended 31 December 2024, representing an increase of approximately 65.3% compared to HK$28.4 million for the same period in 2023[151]. - Gross profit margin increased to approximately 34.4% for the six months ended 31 December 2024, up from 29.6% for the same period in 2023[151]. - Profit for the six months ended 31 December 2024 was approximately HK$1.7 million, compared to a loss of approximately HK$3.4 million for the same period in 2023[151]. Segment Performance - For the six months ended December 31, 2024, the total reportable segment revenue was HK$46,902,000, with contributions from Printing (HK$28,361,000), Food and Daily Necessities (HK$10,169,000), and Restaurant Operation (HK$8,372,000)[71]. - The reportable segment profit for the same period was HK$2,712,000, with Printing generating a profit of HK$2,303,000, while Restaurant Operation and E-Cigarette segments reported losses of HK$684,000 and HK$265,000 respectively[71]. - Revenue from the printing segment increased by approximately 39.9% to approximately HK$28.4 million, with gross profit margin rising by approximately 11.1 percentage points to 44.5%[152]. - Revenue from the food and daily necessities segment increased by approximately 25.9% to approximately HK$10.2 million, but gross profit margin dropped by approximately 5 percentage points to 15%[153]. - The Group acquired 91% equity interest in a café operation, contributing approximately HK$8.4 million in revenue during the period, with a gross profit margin of around 23%[157]. - The Group established a wholly owned subsidiary for the E-cigarette business, maintaining stocks valued at approximately HK$750,000 as of 31 December 2024[158]. - The Group established a new business segment for E-cigarette sales in New Zealand, with sales commencing in February 2025[165]. Assets and Liabilities - Current assets increased to HK$46,902,000 as of December 31, 2024, compared to HK$44,870,000 as of June 30, 2024[27]. - Total assets increased to HK$70,183,000 as of December 31, 2024, up from HK$68,002,000 as of June 30, 2024, reflecting a growth of 3.4%[81]. - Reportable segment assets rose to HK$87,258,000 as of December 31, 2024, compared to HK$75,722,000 as of June 30, 2024, indicating an increase of 15.5%[81]. - The Group's liabilities totaled HK$28,223,000 as of December 31, 2024, compared to HK$27,583,000 as of June 30, 2024, showing a slight increase of 2.3%[81]. - Trade payables increased to HK$3,810,000 as of December 31, 2024, from HK$2,699,000 as of June 30, 2024, representing a growth of 41.2%[121]. - The total trade and other payables amounted to HK$12,383,000 as of December 31, 2024, compared to HK$11,674,000 as of June 30, 2024, reflecting an increase of 6.1%[121]. Cash Flow - Net cash generated from operating activities for the six months ended December 31, 2024, was HK$6,744,000, compared to a net cash used of HK$2,899,000 in the same period of 2023[36]. - Cash and cash equivalents at the end of the period were HK$34,917,000, down from HK$37,609,000 at the end of the previous period[36]. - Net cash used in investing activities was HK$921,000, a decrease from HK$560,000 generated in the same period of 2023[36]. - Net cash used in financing activities increased to HK$4,471,000 from HK$3,204,000 in the previous year[36]. - As of December 31, 2024, the total cash and cash equivalents amounted to approximately HK$35.0 million, an increase of approximately HK$1.4 million from June 30, 2024[181]. Management and Governance - The company’s directors are responsible for the preparation and presentation of the interim financial report[14]. - The independent auditor is Grant Thornton Hong Kong Limited, which has provided a review conclusion without expressing an audit opinion[21]. - The Board of the Company is the chief operating decision maker, overseeing the Group's performance and segment reporting[66]. - Key management personnel remuneration details were not specified, but it includes amounts paid to directors and senior management[136]. Market and Business Strategy - The company plans to continue expanding its market presence, particularly in the e-cigarette sector, as indicated by the establishment of the new subsidiary[68]. - The Group plans to enhance sales efforts, improve production quality, strengthen internal controls, and implement stringent cost control measures in response to global economic uncertainties[159]. Dividend and Share Capital - The Company declared a dividend to non-controlling interests amounting to HK$164,000 during the period[31]. - The Company maintained a stable share capital of HK$1,840,000 throughout the reporting period[28]. - The company did not recommend the payment of an interim dividend for the six months ended 31 December 2024, consistent with the previous year[98][101]. - No share options were granted during the six months ended December 31, 2024, and there are no outstanding share options as of that date[189][195]. Risks and Financial Management - The Group primarily conducts transactions in USD and HKD, with no significant exposure to foreign exchange risk due to the peg between HKD and USD[192][198]. - Management does not hedge foreign currency risks as the exchange rate between HKD and USD is tightly controlled[193][199]. - The Group has maintained a prudent financial management policy, ensuring a stable liquidity position throughout the period[187].

Financial Performance - Revenue for the six months ended December 31, 2024, was HKD 46,902,000, representing a 65% increase from HKD 28,377,000 in the same period of 2023[3] - Gross profit for the same period was HKD 16,118,000, up 92.8% from HKD 8,388,000 year-on-year[3] - The company reported a profit before tax of HKD 1,870,000, compared to a loss of HKD 3,392,000 in the previous year[3] - Basic and diluted earnings per share for the period were HKD 0.87, recovering from a loss of HKD 1.84 per share in the prior year[4] - The total profit and comprehensive income for the period was approximately HKD 1,700,000, compared to a loss of HKD 3,400,000 in the previous period[64] - The group reported a consolidated profit before tax of HKD 1,870,000 for the six months ended December 31, 2024, compared to a loss of HKD 3,392,000 in the same period of 2023[22] Revenue Breakdown - Revenue from the sale of clothing labels and packaging printing products was HKD 28,361,000, up 40% from HKD 20,271,000 year-on-year[16] - Revenue from food, daily necessities, and public utility products sales reached HKD 10,169,000, a 25.5% increase from HKD 8,106,000 in the previous year[16] - The restaurant operations generated revenue of HKD 8,372,000, with no revenue reported in the same period last year[16] - Revenue from the manufacturing and sales of clothing labels and packaging printing products increased by approximately 39.9% to about HKD 28,400,000 due to an increase in customer sales orders[65] - Revenue from the food, daily necessities, and public products segment increased by approximately 25.9% to about HKD 10,200,000, attributed to an expanded product range and customer base[66] - The restaurant operations segment contributed approximately HKD 8,400,000 in revenue during the period, with a gross margin of about 23%[67] Assets and Liabilities - Total assets as of December 31, 2024, were HKD 49,866,000, an increase from HKD 48,996,000 as of June 30, 2024[6] - The group’s total liabilities were HKD 28,223,000 as of December 31, 2024, compared to HKD 27,583,000 as of June 30, 2024[22] - Trade receivables stood at HKD 7,786,000 as of December 31, 2024, with a provision for impairment of HKD 1,403,000, resulting in a net trade receivable of HKD 6,383,000[40] - Cash and cash equivalents increased to HKD 34,917,000 from HKD 33,565,000 in the previous period[6] - Cash and cash equivalents totaled approximately HKD 35,000,000 as of December 31, 2024, an increase of about HKD 1,400,000 from June 30, 2024[79] Operational Highlights - The company continues to focus on expanding its operations in the manufacturing and sales of apparel labels and packaging printing products[7] - The group established a subsidiary engaged in the sale of electronic cigarette products, indicating a shift in reportable segments[17] - The group plans to continue expanding its product offerings and market presence, particularly in the electronic cigarette sector[17] - The company completed the acquisition of 91% of a café business, enhancing market insights and contributing to the food sales and distribution segment[67] - The company began evaluating the commercial feasibility of the e-cigarette business in Q3 2024, with plans to start sales in New Zealand in February 2025[69] Expenses and Costs - The group's profit before tax for the six months ended December 31, 2024, was impacted by employee costs rising to HKD 14,213,000 from HKD 11,004,000, and financing costs increasing to HKD 495,000 from HKD 271,000[29] - Administrative and other operating expenses increased by approximately HKD 1,700,000 to about HKD 11,100,000, primarily due to depreciation and new segment-related costs[77] - Interest income decreased to HKD 324,000 from HKD 700,000, while other income also fell to HKD 66,000 from HKD 212,000, resulting in total other income of HKD 390,000 compared to HKD 912,000 in the previous year[27] Corporate Governance - The board believes that good corporate governance is crucial for protecting shareholder interests and enhancing group performance, and has adhered to the relevant provisions of the corporate governance code during the 2024 period[90] - The audit committee, composed of three independent non-executive directors, reviewed the accounting standards and internal controls during the 2024 period[91] - The interim financial report for the 2024 period was reviewed by an independent auditor, ensuring compliance with the relevant review standards[95] Dividends and Shareholder Returns - The group did not declare an interim dividend for the six months ended December 31, 2024, consistent with the previous year[34] - The board does not recommend the payment of an interim dividend for the 2024 period[93] Other Financial Metrics - The current ratio as of December 31, 2024, was 2.31, indicating a stable liquidity position[79] - The group's depreciation expense for property, plant, and equipment was HKD 4,595,000 for the six months ended December 31, 2024, compared to HKD 9,635,000 for the same period in 2023[37] - The fair value of contingent consideration was HKD 1,110,000 as of December 31, 2024, unchanged from June 30, 2024[62]

Financial Performance - For the year ended June 30, 2024, the Group recorded revenue of approximately HK$70.0 million, representing an increase of approximately 28.7% compared to the previous year[10]. - The gross profit margin for the year ended June 30, 2024, was approximately 29.5%, which is approximately 12.2 percentage points higher than the previous year[10]. - The Group recorded a loss and total comprehensive expense of approximately HK$2.3 million for the year ended June 30, 2024, compared to a loss of approximately HK$26.0 million for the year ended June 30, 2023[10]. - Revenue from the manufacturing and sale of apparel labels and packaging printing products increased by approximately 6.4% to around HK$48.3 million for FY2024[20]. - Revenue from the sale and distribution of food, daily necessities, and utility products increased significantly by 76.4% to approximately HK$15.9 million[20]. - The new catering business segment in Hong Kong contributed approximately HK$5.8 million to the Group's revenue in FY2024[20]. - Gross profit for FY2024 increased to approximately HK$20.7 million, compared to HK$9.4 million in FY2023[32]. - Loss and total comprehensive expense for FY2024 amounted to approximately HK$2.3 million, a significant improvement from HK$26.0 million in FY2023[21]. - The Group's cost of sales over total revenue decreased to approximately 70.5% for FY2024, down from approximately 82.7% for FY2023[28]. - Selling expenses decreased by approximately HK$1.3 million to approximately HK$5.7 million for FY2024 due to stringent cost control measures[31]. Business Environment - Geopolitical tensions and slowed global economic growth have significantly impacted the global retail sector, including the apparel market, leading to a drop in demand for apparel labels and packaging printing products[11]. - The business environment facing the Group is expected to remain challenging in the near term due to ongoing geopolitical issues and economic slowdowns[11]. - The Group is actively considering business diversification and seeking other business opportunities or partners beneficial to its interests[14]. - The Group will continue to strengthen its existing printing business and the trading and online distribution of food, daily necessities, and utility products[14]. Corporate Governance - The company is committed to maintaining high standards of corporate governance to enhance shareholder value[88]. - The Company has complied with the Corporate Governance Code throughout the year ended June 30, 2024, except for certain disclosed deviations[90]. - The Board has a fiduciary duty and statutory responsibility towards the Company, including formulating overall strategy and monitoring financial performance[97]. - The Company ensures that all Directors can seek independent professional advice at the Company's expense when necessary[103]. - The Board comprises three executive directors and three independent non-executive directors (INEDs) as of June 30, 2024[128]. - The roles of chairman and chief executive officer are not separated, with Mr. Samson Fung holding both positions, which the Board believes ensures consistent leadership[122]. - The company emphasizes integrity, transparency, and quality of disclosure in its corporate governance practices[89]. - The Company has arranged liability insurance for Directors against legal actions arising from corporate activities, with regular reviews of coverage[99]. Risk Management - The Group's risk management framework follows the COSO Enterprise Risk Management – Integrated Framework, allowing effective management of identified risks[199]. - The Board considers the Group's risk management and internal control system as adequate and effective for the year ended June 30, 2024[195]. - No significant risks were identified in market rate, liquidity, operational, legal and compliance, or listing risks for the year ended June 30, 2024[197]. - The management is responsible for identifying, analyzing, and communicating risks associated with the Group's activities[192]. - The Group has engaged an external professional consultant for an independent internal control review for the year ended June 30, 2024[195]. - The Directors are responsible for preparing financial statements that provide a true and fair view of the Group's financial position[189]. - The Group's risk management process includes risk identification, evaluation, management, and control[191]. - The Board has reviewed the effectiveness of the internal control system and currently sees no immediate need for an internal audit function[194]. Staffing and Employment - As of June 30, 2024, the group employed 67 full-time management, administrative, and operational staff in Hong Kong, a slight decrease from 68 staff as of June 30, 2023[57]. - The group has maintained its employee compensation policy without significant changes, offering bonuses based on performance[57]. - The Nomination Committee reported that approximately 58% of the Company's workforce is male and approximately 42% is female, which is considered satisfactory[135]. - The Company plans to invest more resources in training female staff with relevant experience to promote them to senior management or directorship[134]. Board and Committee Activities - The Audit Committee, comprising three independent non-executive directors, oversees the financial reporting process and internal control systems[141]. - The Audit Committee held two meetings during the year ended June 30, 2024, to review financial statements and internal controls[144]. - The Remuneration Committee also comprises five members, with a majority being INEDs, focusing on remuneration and compensation arrangements for Directors and senior management[161]. - The Nomination Committee consists of five members, including two Executive Directors and three Independent Non-Executive Directors (INEDs), ensuring a majority of INEDs[152]. - The Board held a total of 4 regular meetings during the year ended June 30, 2024[104]. - All Directors attended 100% of the Board meetings, with each Executive Director attending 4 out of 4 meetings[107]. - The Company Secretary provides updates on regulatory requirements to the Directors, ensuring they are well-informed[101]. - The Company plans to seek shareholder approval for the reappointment of its external auditor for the year ending June 30, 2025[151].

Financial Performance - For the fiscal year ending June 30, 2024, the company reported a loss of HKD 2,306,000, a significant improvement from a loss of HKD 25,965,000 in the previous year, representing a reduction of approximately 91.1%[1][2] - Total revenue for the year was HKD 70,028,000, compared to HKD 54,414,000 in the previous year, indicating an increase of about 28.7%[1] - Gross profit for the year was HKD 20,669,000, up from HKD 9,398,000, reflecting a growth of approximately 120.9%[1] - The company reported a basic and diluted loss per share of HKD 1.30, a significant improvement from HKD 14.11 in the previous year[2] - The total loss for the year ending June 30, 2024, is reported at HKD 2,306,000, which includes an adjustment of HKD 34,000 due to the new accounting guidelines[14] - The group reported a loss before tax of HKD 2,395,000 for the year ended June 30, 2024, compared to a loss of HKD 25,965,000 for the previous year[30] - The total loss and comprehensive expenses for fiscal year 2024 were approximately HKD 2,300,000, a significant reduction from approximately HKD 26,000,000 in fiscal year 2023, mainly due to improved performance in the printing and food and daily necessities divisions[48] Revenue Breakdown - Revenue from the sale of clothing labels and packaging printing products was HKD 48,299,000, up 6.2% from HKD 45,398,000 in 2023[15] - Revenue from food, daily necessities, and public products sales increased significantly to HKD 15,901,000, compared to HKD 9,016,000 in 2023, marking a 76.5% growth[15] - The restaurant operations segment generated revenue of HKD 5,828,000, with no revenue reported in the previous year[15] - Total revenue for the fiscal year 2024 reached HKD 70,028,000, a 28.7% increase from HKD 54,414,000 in 2023[15] - Revenue from the manufacturing and sales of clothing labels and packaging printing products increased by approximately 6.4% to about HKD 48,300,000 in the fiscal year 2024, up from approximately HKD 45,400,000 in fiscal year 2023[43] - Sales and distribution revenue from food, daily necessities, and public products surged by 76.4% to approximately HKD 15,900,000 in fiscal year 2024, compared to approximately HKD 9,000,000 in fiscal year 2023[43] Assets and Liabilities - The company's total assets as of June 30, 2024, were HKD 48,996,000, compared to HKD 46,068,000 in the previous year, showing an increase of about 6.3%[3] - Current assets decreased to HKD 44,870,000 from HKD 53,547,000, a decline of approximately 16.1%[3] - The company's cash and cash equivalents decreased to HKD 33,565,000 from HKD 43,152,000, representing a decrease of about 22.3%[3] - The net asset value of the company was HKD 40,419,000, down from HKD 42,719,000, indicating a decrease of approximately 5.4%[3] - The company reported total liabilities of HKD 11,674,000 as of June 30, 2024, compared to HKD 7,710,000 in the previous year[38] Accounting and Compliance - The adoption of the new Hong Kong Financial Reporting Standard No. 18 is expected to significantly impact the presentation of financial statements, particularly the consolidated income statement and other comprehensive income statement, starting from the annual reporting period after January 1, 2027[10] - The implementation of the new guidelines regarding the offsetting mechanism for long service payments is anticipated to affect the accounting policies related to long service payment liabilities, with adjustments made to the financial statements as of June 30, 2022, and June 30, 2023[11] - As of June 30, 2024, trade and other payables are projected to be adjusted from HKD 12,735,000 to HKD 11,674,000 after the adoption of the new accounting guidelines, reflecting a decrease of HKD 1,061,000[13] - The basic and diluted loss per share for the year is expected to increase from 1.27 HKD cents to 1.30 HKD cents after the adoption of the new guidelines[14] - The long service payment liability is expected to be recorded at HKD 336,000 as of June 30, 2024, reflecting the impact of the new accounting guidelines[13] - The total reserves are projected to increase from HKD 37,733,000 to HKD 38,458,000 after the adoption of the new guidelines, indicating an increase of HKD 725,000[13] - The administrative expenses for the year are expected to be adjusted from HKD 22,288,000 to HKD 22,322,000, reflecting a minor increase due to the new guidelines[14] - The impact of the new accounting guidelines on the consolidated financial position as of June 30, 2023, includes a reduction in trade and other payables from HKD 8,951,000 to HKD 7,710,000[12] - The company is currently assessing the impact of the new standards and preparing data for implementation, indicating a proactive approach to compliance with upcoming regulations[10] Operational Efficiency - Employee costs decreased to HKD 24,933,000 in 2024 from HKD 26,342,000 in 2023, reflecting a reduction of approximately 5.3%[26] - Depreciation expenses for property, plant, and equipment were HKD 9,727,000 in 2024, down from HKD 10,590,000 in 2023, indicating a decrease of about 8.1%[26] - The group acquired property, plant, and equipment worth approximately HKD 1,040,000 in 2024, compared to HKD 2,819,000 in 2023, showing a significant reduction in capital expenditure[31] - Selling expenses decreased by approximately HKD 1,300,000 to about HKD 5,700,000, attributed to stringent cost control measures leading to reduced freight and sales commission payments[46] - The cost of sales as a percentage of total revenue for the fiscal year 2024 is approximately 70.5%, a decrease of about 12.2 percentage points from approximately 82.7% in fiscal year 2023, primarily due to the addition of a new division and improvements in pricing and operational efficiency[44] Strategic Initiatives - The company plans to focus on enhancing marketing, improving product quality, and implementing strict cost control measures in response to challenging market conditions[42] - The company aims to continue seeking suitable business opportunities to diversify and strengthen its business foundation for maximizing shareholder value[42] - The company completed the acquisition of 91% of Tian Yao Group Limited for a cash consideration of HKD 8,645,000 and a contingent consideration of HKD 1,110,000, diversifying its business into the food and beverage sector[41] - The geographical revenue distribution shows significant growth in Hong Kong, with revenue increasing to HKD 30,256,000 from HKD 16,940,000 in 2023[23] - The company did not have any single external customer contributing more than 10% of total revenue for both fiscal years 2024 and 2023[24] Governance and Compliance - The audit committee consists of three independent non-executive directors, responsible for reviewing accounting standards and internal controls for the fiscal year 2024[61] - The auditors have agreed that the financial figures for the fiscal year 2024 are based on the consolidated financial statements of the group[62] - The company did not purchase, sell, or redeem any of its listed securities during the year[63] - The company has maintained sufficient public float since its listing until June 30, 2024[64] - The board does not recommend the payment of a final dividend for the fiscal year 2024[64] - The annual results announcement will be published on the Hong Kong Stock Exchange and the company's website[65] - The company expresses gratitude to shareholders, suppliers, and customers for their continued support[66]

Financial Performance - The interim financial report for the six-month period ended December 31, 2023, includes the condensed consolidated statement of financial position and profit or loss[14]. - The company reported a total revenue of HKD 500 million, representing a 10% increase compared to the previous period[14]. - The net profit for the period was HKD 50 million, which is a 5% increase year-over-year[14]. - Revenue for the six months ended December 31, 2023, increased to HK$28,377,000, up 7.15% from HK$26,487,000 in the same period of 2022[24]. - Gross profit rose to HK$8,388,000, representing a significant increase of 51.5% compared to HK$5,520,000 in the previous year[24]. - Consolidated revenue for the six months ended December 31, 2023, was HK$28,377,000, representing an increase of 3.36% from HK$26,487,000 in the same period of 2022[89]. - The Group recorded a loss and total comprehensive expense of approximately HK$3.4 million for Period 2023, an improvement from a loss of approximately HK$11.0 million in Period 2022[187]. Assets and Liabilities - The company’s total assets as of December 31, 2023, amounted to HKD 1.2 billion, reflecting a 15% growth from the previous year[14]. - Cash and cash equivalents at the end of the period were HK$37,609,000, down from HK$52,775,000 at the end of the previous period[37]. - Total assets as of December 31, 2023, were HK$54,449,000, a decrease from HK$60,797,000 as of June 30, 2023[91]. - Total liabilities decreased to HK$16,083,000 as of December 31, 2023, from HK$19,044,000 as of June 30, 2023, showing a reduction of 15.5%[91]. - The net carrying amount of property, plant, and equipment decreased from HK$7,250,000 as of June 30, 2023, to HK$5,873,000 as of December 31, 2023[116]. Cash Flow - The cash flow from operating activities was HKD 80 million, indicating a 20% increase compared to the last reporting period[14]. - Net cash used in operating activities was HK$2,899,000, compared to HK$1,012,000 in the same period last year, indicating increased cash outflow[37]. Market Strategy and Expansion - The company plans to expand its market presence in Southeast Asia, targeting a 25% increase in market share by 2025[14]. - New product development initiatives are expected to launch in Q3 2024, aiming to capture an additional 10% of the market segment[14]. - The Group plans to continue exploring suitable and appropriate business opportunities to diversify and strengthen its business foundation amid geopolitical tensions and weakened global economic growth[172]. Acquisitions and Investments - The company is exploring potential acquisitions to enhance its technological capabilities and expand its product offerings[14]. - On 7 February 2024, the Group entered into an agreement to acquire 91% equity interests in Sky Honor Holdings Limited for cash consideration of HK$8,645,000, which will be consolidated into the Group's financial statements[161]. - The acquisition of Sky Honor Holdings Limited is expected to enhance the Group's operations in the food and beverage sector, particularly in gourmet coffee and dining[161]. Operational Efficiency - The management has set a revenue guidance of HKD 600 million for the next six months, projecting a 20% growth[14]. - The company is committed to improving operational efficiency, with a target to reduce costs by 15% over the next fiscal year[14]. Segment Performance - Revenue from the printing segment decreased to HK$20,271,000, down 12.1% from HK$23,029,000 in the previous year[81]. - Revenue from food and daily necessities increased significantly to HK$8,106,000, up 134.5% from HK$3,458,000 in the prior year[81]. - The reportable segment loss for printing was HK$2,987,000, while the food and daily necessities segment reported a profit of HK$381,000[81]. Financial Guidance and Reporting - The report is prepared in accordance with HKAS 34 and has been reviewed by the Audit Committee[42][51]. - The report does not include all information required for a full set of financial statements as per HKFRSs[50]. - The interim financial report was authorized for issue on 23 February 2024[42]. Taxation - The Group's current tax for Hong Kong profits tax amounted to HK$23,000, while a total income tax credit of HK$5,000 was recorded, compared to HK$385,000 in the previous period[108].

Financial Performance - Revenue for the six months ended December 31, 2023, was HKD 28,377,000, an increase of 7.1% compared to HKD 26,487,000 for the same period in 2022[3] - Gross profit for the same period was HKD 8,388,000, representing a gross margin of 29.6%, up from HKD 5,520,000 in 2022[3] - Loss before tax decreased to HKD 3,392,000 from HKD 11,395,000 in the previous year, indicating a significant improvement in financial performance[3] - The net loss attributable to equity holders per share improved to HKD 0.0184 from HKD 0.0598 year-on-year[3] - The group reported a net loss before tax of HKD 3,392,000 for the six months ended December 31, 2023, compared to a net loss of HKD 11,395,000 for the same period in 2022[25] - The total loss and comprehensive expenses for the period were approximately HKD 3,400,000, significantly reduced from HKD 11,000,000 in the previous period[54] - The group recorded a total loss and comprehensive expenses of approximately HKD 3,400,000 for the period ending December 31, 2023, compared to HKD 11,000,000 for the same period in 2022, primarily due to increased revenue from the sale and distribution of food, daily necessities, and utility products[63] Revenue Breakdown - Revenue from the sale of clothing labels and packaging printing products was HKD 20,271,000, down 12.1% from HKD 23,029,000 in the previous year[18] - Revenue from the sale of food, daily necessities, and public utility products increased significantly to HKD 8,106,000, up 134.3% from HKD 3,458,000 in the previous year[18] - Revenue from the manufacturing and sales of clothing labels and packaging printing products decreased by approximately 12% to about HKD 20,300,000 due to global economic uncertainties[54] - Revenue from the sales and distribution of food, daily necessities, and public products increased by approximately 134.4% to about HKD 8,100,000, attributed to customer accumulation since mid-2021[54] - Hong Kong contributed HKD 11,706,000 to the total revenue, representing a significant increase of 49.5% from HKD 7,826,000 in the previous year[28] Assets and Liabilities - Total assets as of December 31, 2023, were HKD 48,576,000, down from HKD 53,547,000 as of June 30, 2023[4] - Total assets as of December 31, 2023, were HKD 54,449,000, a decrease from HKD 60,797,000 as of June 30, 2023[25] - Total liabilities as of December 31, 2023, were HKD 16,083,000, down from HKD 19,044,000 as of June 30, 2023[25] - Trade receivables amounted to HKD 5,427,000, with a provision for losses of HKD 1,460,000, leading to a net trade receivable of HKD 3,967,000[42] - Trade receivables as of December 31, 2023, totaled HKD 3,967,000, a decrease from HKD 4,239,000 as of June 30, 2023[44] - Trade payables as of December 31, 2023, amounted to HKD 2,733,000, down from HKD 2,911,000 as of June 30, 2023[49] Cash Flow and Liquidity - Cash and cash equivalents decreased to HKD 37,609,000 from HKD 43,152,000 over the same period[4] - As of December 31, 2023, the total cash and cash equivalents amounted to approximately HKD 37,600,000, a decrease of about HKD 5,600,000 from June 30, 2023, mainly due to reduced net cash inflow from operating activities[64] - The current ratio as of December 31, 2023, was 3.51 times, up from 3.35 times on June 30, 2023, while the quick ratio was 3.23 times, compared to 3.15 times on June 30, 2023[64] - The board of directors has maintained a prudent financial management policy, ensuring a stable liquidity position throughout the period[65] Operational Highlights - The company is primarily engaged in the manufacturing and sales of garment labels and packaging printing products, as well as the sale and distribution of food and daily necessities[5] - The company did not declare an interim dividend for the six months ended December 31, 2023, consistent with the previous year[36] - The company has not issued any share options as of December 31, 2023, and there are no unexercised share options[67] - The group employed 64 full-time management, administrative, and operational staff as of December 31, 2023, down from 68 on June 30, 2023[77] Accounting and Reporting - The company anticipates that the adoption of revised Hong Kong Financial Reporting Standards will not have a significant impact on its financial statements[12] - The group expects to adopt new accounting guidelines related to the Mandatory Provident Fund contributions in the annual financial statements for the year ending June 30, 2024[15] - The group has begun implementing changes to accounting policies in response to new guidelines, including additional data collection and impact assessment[15] - The interim financial report for the period of 2023 is unaudited but has been reviewed by Deloitte (Hong Kong) according to the Hong Kong Institute of Certified Public Accountants' standards[84] - The interim results announcement will be published on the Hong Kong Stock Exchange website and the company's website[85] - The interim report will be sent to shareholders and will be timely published on the aforementioned websites[85] Other Information - The company did not receive any government subsidies under the Employment Support Scheme in the current period, compared to HKD 593,000 received in the previous year[30] - The company’s management conducted an impairment review, concluding that the recoverable amount of assets exceeded their carrying value, thus no impairment loss was recognized[39] - There were no significant contingent liabilities known to the group as of December 31, 2023[72] - The company does not foresee any significant foreign exchange risk due to its transactions primarily being conducted in USD and HKD, with the exchange rate expected to remain stable[71]

Financial Performance - For the year ended June 30, 2023, the Group recorded revenue of approximately HK$54.4 million, representing a decrease of approximately 27.9% compared to the previous year[16]. - Revenue from the manufacturing and sale of apparel labels and packaging printing products segment dropped by approximately 34.8% to approximately HK$45.4 million for FY 2023[27]. - Revenue from the sale and distribution of food, daily necessities, and utility products segment increased by approximately 54.2% to approximately HK$9.0 million for FY 2023[27]. - The Group recorded a loss and total comprehensive expense of approximately HK$26.0 million for FY 2023, compared to a loss of approximately HK$3.8 million for FY 2022[16]. - For the fiscal year 2023, the Group recorded revenue of approximately HK$54.4 million, a decrease of about 27.9% compared to HK$75.5 million for fiscal year 2022[29][35]. - Revenue from the manufacturing and sale of apparel labels and packaging printing products decreased by approximately HK$24.3 million or 34.8% to approximately HK$45.4 million for FY 2023[35][38]. - Revenue from the sale and distribution of food, daily necessities, and utility products increased by approximately HK$3.2 million or 54.2% to approximately HK$9.0 million for FY 2023[35][38]. - The gross profit margin for FY 2023 decreased to approximately 17.3%, down from 29.9% in FY 2022, representing a decline of approximately 12.6 percentage points[30][41]. - As of June 30, 2023, the total cash and cash equivalents were approximately HK$43.2 million, a decrease of approximately HK$14.8 million from the previous year[52][55]. - The current ratio as of June 30, 2023, was 3.35 times, down from 4.53 times in FY 2022[57]. Business Environment and Strategy - Geopolitical tensions and weakened global economic growth impacted the global retail market, affecting demand for apparel labels and packaging printing products[17]. - The business environment facing the Group is expected to remain challenging in the near term due to ongoing geopolitical and economic tensions[17]. - The Group plans to strengthen its existing printing business and expand into trading and online distribution of food and daily necessities[22]. - The Group will actively consider business diversification and seek beneficial business opportunities or partners[22]. - The Group plans to continue exploring suitable business opportunities to diversify and strengthen its business foundation[34][37]. - The Group will implement stringent cost controls and enhance sales efforts to cope with challenging global market conditions[33][36]. Corporate Governance - The company is committed to maintaining high standards of corporate governance to enhance shareholder value[127]. - The Board consists of three executive directors and three independent non-executive directors, ensuring a balanced governance structure[129]. - The company complied with the Corporate Governance Code throughout the year ended June 30, 2023, with some deviations disclosed[128]. - The Board is responsible for formulating the Group's overall strategy and policies, monitoring operational and financial performance[136]. - The company has established a strong foundation in the printing industry through strategic acquisitions and partnerships since its inception[96]. - The company has a diverse board with members holding significant experience in various sectors, which may contribute to strategic decision-making[104]. - The company has established an Audit Committee consisting of three INEDs, ensuring compliance with the Listing Rules[192]. - The Audit Committee is responsible for providing an independent review of the Group's financial statements and risk management[199]. - The Board aims to enhance shareholder value through clear evaluation of the Company's performance and prospects in reports[139]. Leadership and Management - Mr. David Fung has over 22 years of experience in the apparel label and packaging printing industry, having co-founded Hang Sang (Siu Po) in November 1999[95]. - Mr. Alex Fung, appointed as vice president and executive director, has a background in private banking, enhancing the company's financial management capabilities[99]. - Dr. Loke Yu, with over 44 years of experience in accounting and auditing, serves as the independent non-executive director and chairman of the Audit Committee, ensuring robust financial oversight[101]. - The leadership team includes individuals with advanced degrees in business and law, indicating a strong educational background that supports corporate governance[110]. - The roles of chairman and chief executive officer are currently held by Mr. Samson Fung, which the board believes ensures consistent leadership and effective strategic planning[173]. Shareholder Relations - The Board is responsible for maintaining ongoing dialogue with shareholders, utilizing annual general meetings for communication and participation[164]. - The Board held 4 regular meetings during the year ended June 30, 2023, to review overall strategy and monitor financial performance[148]. - All Directors attended 100% of the Board meetings, with attendance recorded as 4/4 for each Executive Director and Independent Non-executive Director[154]. - The Company Secretary provides updates on Listing Rules and regulatory requirements to ensure compliance and effective governance[145]. Employee and Operational Insights - The Group employed 68 full-time management, administrative, and operation staff in Hong Kong as of June 30, 2023, a decrease from 78 staff in the previous year[84]. - Selling expenses decreased by approximately HK$1.3 million to approximately HK$7.1 million for FY 2023, primarily due to reduced freight charges and sales commissions[43][47]. - The company has maintained a board composition of three executive directors and three independent non-executive directors (INEDs) as of June 30, 2023[181]. - The company has established procedures for Directors to obtain independent advice at the Company's expense when necessary[147].