Financial Performance - Revenue increased by 11.8% to approximately HK$2,311.3 million for the year ended December 31, 2024, compared to approximately HK$2,067.3 million for the previous year[13]. - Gross profit rose by 15.6% to approximately HK$579.9 million, up from approximately HK$501.7 million in the prior year[13]. - Gross profit margin improved by 0.8 percentage points to 25.1%, compared to 24.3% for the year ended December 31, 2023[13]. - Operating profit was approximately HK$173.7 million, an increase from approximately HK$144.1 million in the previous year[13]. - Profit attributable to owners of the Company was approximately HK$143.2 million, compared to approximately HK$104.2 million for the year ended December 31, 2023[13]. - Profit before income tax for the year was approximately HK$177.6 million, compared to HK$144.1 million in the previous year[15]. - Profit for the year was approximately HK$139.1 million, compared to HK$95.6 million for the previous year[15]. - Basic earnings per share attributable to owners of the Company for 2024 were HK$19.8 cents, reflecting a 37.5% increase from the previous year[20]. - The Group's total revenue increased by 11.8% to approximately HK$2,311.3 million, compared to HK$2,067.3 million for the year ended December 31, 2023[40]. - Profit attributable to owners of the Company for the year ended December 31, 2024, was approximately HK$143.2 million, up from HK$104.2 million in the previous year, representing a growth of 37.4%[44]. - Basic and diluted earnings per share attributable to owners of the Company for the year ended December 31, 2024, were both HK19.8 cents, compared to HK14.4 cents for the year ended December 31, 2023, reflecting a 37.5% increase[45]. Dividends - A proposed final dividend of HK7.0 cents per share was recommended, along with an interim dividend of HK3.0 cents per share, totaling HK10.0 cents per share for the year[13]. - The annual dividend payout ratio increased to 50.5%, up from 48.6% for the year ended December 31, 2023[13]. - The proposed final dividend for the year ended December 31, 2024, is HK7.0 cents per share, an increase from HK5.0 cents per share in the previous year, with total expected dividends of HK10.0 cents per share for 2024[46]. - The Group's distributable reserves amounted to approximately HK$985.3 million as of December 31, 2024[165]. - The Board intends to balance sufficient capital for business growth with rewarding shareholders through dividends[128]. - The Company reserves the right to change its dividend payment plans based on various factors including earnings and financial condition[134]. Business Operations - The hospitality supplies business contributed approximately HK$1,930.1 million to total revenue in 2024, up from HK$1,697.2 million in 2023[25]. - The Group is pursuing a supply chain diversification strategy, including production lines in Cambodia, to reduce costs and enhance efficiency[29]. - The Group plans to optimize its supply chain structure and explore opportunities in Southeast Asia to leverage cost benefits associated with regional low tariff policies[29]. - The Group's hospitality supplies business generated approximately HK$1,930.1 million in revenue, accounting for 83.5% of total revenue, compared to 82.1% in the previous year[40]. - The Group is focusing on supply chain diversification to enhance operational resilience and capitalize on opportunities in Southeast Asia[39]. - The Group aims to enhance its production capabilities in Cambodia to achieve greater cost efficiency and leverage local tax policies for market expansion[97]. - The Group plans to optimize product categories and quality standards in the OS&E business and explore growth opportunities in Southeast Asia[85]. Market Trends - The global tourism industry is showing signs of recovery, with 1.4 billion international tourist arrivals recorded in 2024, indicating a rebound from the COVID-19 pandemic[24]. - The Group maintains a cautiously optimistic outlook on the future of the tourism industry, despite ongoing global economic uncertainties[30]. - An estimated 1.4 billion international tourists traveled in 2024, indicating a 99% recovery of pre-pandemic levels, representing an increase of 11% over 2023[73]. Financial Position - As of December 31, 2024, the Group's cash and cash equivalents amounted to approximately HK$328.6 million, down from HK$375.1 million as of December 31, 2023[48]. - The Group's net assets as of December 31, 2024, were approximately HK$1,263.3 million, an increase from HK$1,193.2 million as of December 31, 2023[49]. - The Group's total borrowings as at 31 December 2024 amounted to HK$26.1 million, a decrease from HK$49.2 million in 2023[60]. - The effective interest rate for secured bank borrowings remained at a floating rate of 1.7% per annum for both 2024 and 2023[57]. - The repayment terms indicate that borrowings within 1 year decreased to HK$14.6 million in 2024 from HK$22.8 million in 2023[60]. - The Group's foreign currency exposure primarily relates to Renminbi (RMB), with no foreign currency hedging policy currently in place[67]. - The carrying amounts of assets pledged as security for borrowings totaled HK$51.3 million as at 31 December 2024, down from HK$54.3 million in 2023[65]. - The Group has no material contingent liabilities as at 31 December 2024, consistent with the previous year[68]. Risk Management - The Group faces risks related to reliance on direct sales customers and distributors, which may affect business and profitability if purchase volumes decline[144]. - The Group is subject to price fluctuations of raw materials, which could adversely impact profits if costs cannot be managed[145]. - The Group's operations are influenced by various market risks, including currency fluctuations and liquidity risks[147]. - The Group emphasizes compliance with laws and regulations, which may incur significant expenditures if changes occur[152]. - The Group will continue to improve operational systems and enhance resource allocation efficiency to strengthen risk management[103]. Corporate Governance - The company has a strong executive team with extensive experience in the hospitality supplies industry and financial management[121]. - All Independent Non-Executive Directors have confirmed their independence in accordance with the Listing Rules[174]. - No significant transactions or contracts involving Directors or entities connected to them existed during the year ended December 31, 2024[182]. Strategic Initiatives - The Group aims for long-term and stable growth by aligning with trends in environmental-friendly production and circular economy development[31]. - The Group is committed to sustainability, focusing on environmental-friendly products and incorporating eco-friendly materials into production[98]. - The Group emphasizes long-term relationships with business partners by prioritizing high-quality products and exceptional services[99]. - The Group's strategic direction will be adjusted to capture market shares and solidify its leading position in the industry[103]. Management and Leadership - Mr. LIU Zigang has over 20 years of experience in the hospitality supplies industry and oversees sales in the Greater China Region[109]. - Mr. CHING Tsun Wah, with extensive experience in the hospitality supplies industry, oversees sales in Southeast Asia and overseas markets[110]. - Mr. KEUNG Kwok Hung has over 30 years of experience in accounting and financial management, serving as the Chief Financial Officer since 2014[113]. - Ms. CHAN Yim Ching has over 30 years of experience in the hospitality supplies industry and was responsible for export sales to overseas markets[114]. - Mr. HUNG Kam Hung Allan has over 30 years of senior management experience in hotel operations and investments, serving as an Independent Non-Executive Director since 2007[115]. - Mr. SUN Eric Yung Tson has been the managing director of Kin Hip Metal & Plastic Factory since 2006, focusing on positioning products in emerging markets[119]. - Mr. KWONG Tony Wan Kit has over 20 years of experience in accounting and financial management, currently serving as an Independent Non-Executive Director since 2021[120]. Cambodia Operations - The Group established a VIE Structure to exercise control over the operations of the Landholding Company due to foreign ownership restrictions in Cambodia[190]. - The Local Partner was replaced by Mr. CHING Tsun Wah, an Executive Director, as a shareholder of the Landholding Company on June 16, 2021[192]. - The Landholding Company remains a subsidiary of the Group, holding a land parcel and properties for investment purposes[193]. - The Group's business in Cambodia has matured and stabilized over time, with increased involvement from Mr. CHING Tsun Wah since 2018[194]. - Mr. CHING Tsun Wah holds 51% of the equity interests in the Landholding Company, while Ming Fai Holdings Limited holds 49%[198]. - The New Loan Agreement involves an interest-free loan of US$2,500,000 for the acquisition of 51% of the equity interests of the Landholding Company[200]. - The New Shareholders' Agreement and New Power of Attorney replace the previous agreements and establish a New VIE Structure[197]. - The change of local partner aims to better safeguard the interests of the Company in the Landholding Company[198]. - The New VIE Structure was established to ensure compliance with local regulations and enhance operational efficiency[199]. - The Group's business in Cambodia is gradually maturing and developing steadily[198].

Financial Performance - Revenue increased by 11.8% to approximately HKD 2,311.3 million for the year ended December 31, 2024, compared to HKD 2,067.3 million for the year ended December 31, 2023[2]. - Gross profit rose by 15.6% to approximately HKD 579.9 million, with a gross margin increase of 0.8 percentage points to 25.1%[2]. - Operating profit was approximately HKD 173.7 million, up from HKD 144.1 million in the previous year[2]. - Profit attributable to owners of the company was approximately HKD 143.2 million, compared to HKD 104.2 million for the year ended December 31, 2023[2]. - Basic and diluted earnings per share increased to HKD 19.8 from HKD 14.4 year-over-year[3]. - The company reported a net profit of HKD 139,113,000 for the year, demonstrating overall profitability despite market challenges[15]. - The profit before tax was HKD 205,918,000, showing a strong performance across various segments[16]. - The company reported a net profit of HKD 95,631,000 for the year, demonstrating effective cost management and revenue generation strategies[16]. Dividends and Shareholder Returns - Proposed final dividend of HKD 0.07 per share, totaling HKD 0.10 per share for the year, with a payout ratio of 50.5%[2]. - The board proposed a final dividend of HKD 7.0 cents per share, with total dividends for the year expected to be HKD 10.0 cents per share, a 42.9% increase from HKD 7.0 cents in the previous year[43]. - The company proposed a final dividend of HKD 0.07 per share for the year ending December 31, 2024, totaling approximately HKD 51,398,000, pending shareholder approval[36]. Assets and Liabilities - Total assets increased to HKD 1,995.3 million as of December 31, 2024, compared to HKD 1,965.2 million as of December 31, 2023[4]. - Total liabilities decreased to HKD 732.0 million as of December 31, 2024, from HKD 772.0 million in the previous year[5]. - Total assets amounted to HKD 1,995,335,000 as of December 31, 2024, with significant investments in non-current assets[15]. - Total assets as of December 31, 2023, reached HKD 1,965,228,000, indicating robust asset management[16]. - The total liabilities were HKD 772,012,000, reflecting a manageable debt level relative to assets[16]. Revenue Streams - The hotel supplies business generated revenue of HKD 322,989,000, while the operational supplies and equipment business reported HKD 315,893,000[15]. - The health care and hygiene products segment achieved revenue of HKD 294,759,000, indicating a diversified revenue stream[15]. - The hotel supplies business revenue increased by 13.7% to approximately HKD 1,930.1 million for the year ending December 31, 2024, compared to HKD 1,697.2 million for the previous year, accounting for 83.5% of total group revenue[59]. - Revenue from the hotel supplies business in various regions for the year ending December 31, 2024, was approximately HKD 528.0 million from China, HKD 294.4 million from Hong Kong, HKD 323.0 million from North America, HKD 315.9 million from Europe, HKD 375.7 million from other Asia-Pacific regions, and HKD 90.1 million from Australia[60]. - The operating supplies and equipment business revenue increased by 8.8% to approximately HKD 210.4 million, accounting for 9.1% of total group revenue[61]. - The healthcare and hygiene products business revenue was approximately HKD 170.8 million, a decrease from HKD 176.8 million the previous year, accounting for 7.4% of total group revenue[64]. Cost Management and Expenses - The cost of goods sold for the year was HKD 1,182,765,000, up from HKD 1,077,213,000 in the previous year, indicating increased operational costs[20]. - Employee benefits expenses rose to HKD 567,833,000, compared to HKD 494,167,000 in the prior year, highlighting investment in human resources[20]. - Depreciation of property, plant, and equipment increased to HKD 59,215,000, up from HKD 52,541,000, reflecting ongoing capital investments[20]. - The company aims to reduce costs and increase efficiency to steadily improve profit margins amidst global economic uncertainties[70]. Future Plans and Strategies - The company plans to adopt the new Hong Kong Financial Reporting Standard No. 18 starting January 1, 2027, which will impact the presentation and disclosure of financial statements[12]. - The company plans to expand its product categories and services in the healthcare and hygiene sector to respond to market changes and create new growth opportunities[63]. - The company aims to enhance its production capacity in Cambodia to alleviate cost pressures and capitalize on the market potential in Southeast Asia[67]. - The company is committed to integrating more environmentally friendly materials into its production processes and aims to achieve long-term sustainability goals[68]. - The company will continue to focus on product innovation and service upgrades to enhance product competitiveness and customer satisfaction[69]. - The company will continue to deepen sustainable development and enhance core competitiveness to capture market share and solidify its industry-leading position[70]. Governance and Compliance - The company has complied with all provisions of the Corporate Governance Code, except for the appointment of a CEO, which is currently managed collectively by the executive directors[72]. - The audit committee has reviewed the group's annual performance for the year ended December 31, 2024[74]. - The company has not purchased, sold, or redeemed any of its listed securities during the year ended December 31, 2024[73]. Employee Information - The total number of employees as of December 31, 2024, is approximately 7,900, with employee benefit expenses (including director remuneration) amounting to approximately HKD 567.8 million[71]. Meeting and Reporting - The company plans to hold its annual general meeting on May 22, 2025, with a record date for shareholders set for the same day[76]. - The annual report will be published on the Hong Kong Stock Exchange's website and the company's website at an appropriate time[80].

Financial Performance - Revenue increased by 10.9% to approximately HK$1,023.4 million for the six months ended June 30, 2024, compared to approximately HK$922.8 million for the same period in 2023[5]. - Gross profit rose by 9.9% to approximately HK$244.9 million, up from approximately HK$222.9 million in the prior year[5]. - Operating profit was approximately HK$64.0 million, an increase from approximately HK$56.3 million for the six months ended June 30, 2023[5]. - Profit attributable to owners of the Company was approximately HK$53.3 million, compared to approximately HK$38.5 million for the same period in 2023[5]. - Basic and diluted earnings per share for the six months ended June 30, 2024, were HK7.4 cents, up from HK5.3 cents in the same period last year[9]. - Profit for the period reached HK$51,667,000, significantly higher than HK$31,691,000 in 2023, representing a year-over-year increase of 63.1%[39]. - Total comprehensive income for the period was HK$43,866,000, compared to HK$26,681,000 in 2023, indicating a substantial improvement[39]. - Profit for the period attributable to owners of the Company for the six months ended 30 June 2024 was HK$53,273,000, an increase from HK$38,497,000 in the same period of 2023, representing a growth of 38.5%[87]. - Basic earnings per Share attributable to owners of the Company increased to 7.4 HK cents for the six months ended 30 June 2024, compared to 5.3 HK cents for the same period in 2023, reflecting a rise of 39.6%[87]. Dividends - An interim dividend of HK3.0 cents per share was declared for the six months ended June 30, 2024, compared to HK2.0 cents per share for the same period in 2023[5]. - The Board declared an interim dividend of HK3.0 cents per share, compared to HK2.0 cents per share for the same period last year[9]. - The total dividend paid during the six months ended 30 June 2024 was approximately HK$36,713,000, including an interim dividend of HK3.0 cents per Share, up from HK2.0 cents per Share in the same period of 2023[89]. Assets and Liabilities - As of June 30, 2024, cash and cash equivalents amounted to approximately HK$314.4 million, down from HK$375.1 million as of December 31, 2023[9]. - The Group's net assets increased to approximately HK$1,200.9 million as of June 30, 2024, compared to HK$1,193.2 million at the end of 2023[9]. - Total assets as of June 30, 2024, were HK$1,869,009,000, down from HK$1,965,228,000 as of December 31, 2023[38]. - Total liabilities decreased to HK$668,118,000 as of June 30, 2024, from HK$772,012,000 as of December 31, 2023[38]. - Total current assets decreased to HK$1,305,554,000 as of June 30, 2024, from HK$1,406,916,000 as of December 31, 2023[37]. - Non-current liabilities totaled HK$20,509,000 as of June 30, 2024, a decrease from HK$23,416,000 as of December 31, 2023[38]. Borrowings and Liquidity - Secured bank borrowings as of June 30, 2024, were HK$2.7 million with an effective interest rate of 1.7% per annum over 1-month HIBOR[12]. - The Group actively manages its liquidity position with standby banking facilities to support daily operations and future capital demands[9]. - As of June 30, 2024, the Group's total borrowings amounted to approximately HK$37.2 million, a decrease from HK$49.2 million as of December 31, 2023[13]. - The total carrying amount of assets pledged as security for borrowings was HK$52,684,000 as of June 30, 2024, down from HK$54,238,000 as of December 31, 2023[76]. - The undrawn banking facilities of the Group were approximately HK$395,852,000 as of June 30, 2024, compared to HK$397,976,000 as of December 31, 2023[76]. Segment Performance - Revenue from the Group's hospitality supplies business for the six months ended June 30, 2024, increased by 14.2% to approximately HK$857.8 million, contributing 83.8% to the Group's total revenue[20]. - Revenue from the OS&E business was approximately HK$82.3 million for the six months ended 30 June 2024, representing an increase of 23.8% compared to HK$66.5 million for the same period in 2023[21]. - Revenue from the health care and hygienic products business was approximately HK$83.3 million for the six months ended June 30, 2024, down from HK$105.3 million in the same period in 2023, contributing 8.2% to total revenue[22]. - Revenue from the hospitality supplies business in the PRC, Hong Kong, North America, Europe, other Asia Pacific regions, and Australia for the six months ended June 30, 2024, accounted for 27.4%, 12.8%, 20.5%, 14.5%, 20.6%, and 4.0% of total segment revenue, respectively[20]. Operational Strategies - The Company continues to focus on enhancing its product offerings and market presence[6]. - Future strategies include potential market expansion and new product development initiatives[6]. - The Group aims to become an excellent international corporate brand specializing in hospitality supplies and personal care products, focusing on sustainable development[22]. - The Group plans to deepen its business in Cambodia and neighboring regions to leverage low tariffs and vast business opportunities in Southeast Asia[22]. - The Group will continue to adopt flexible market strategies to strengthen market penetration and consolidate its leading market position in the industry[23]. Employee and Management Information - The total number of employees as of June 30, 2024, was approximately 7,700, with employee benefit expenses amounting to approximately HK$267.9 million for the six months ended June 30, 2024[23]. - The remuneration of employees is structured based on market terms and individual merits, with regular reviews and various benefits provided[23]. - Key management compensation increased to HK$3,585,000 in 2024 from HK$3,392,000 in 2023, reflecting a rise of 5.7%[103]. - Total contributions to pension plans for key management were HK$3,646,000 in 2024, compared to HK$3,454,000 in 2023, marking an increase of 5.6%[103]. Financial Risks and Compliance - The Group's activities are exposed to various financial risks, including market risk, credit risk, and liquidity risk[49]. - The Group complied with all provisions of the Corporate Governance Code during the six months ended June 30, 2024, except for the lack of a designated chief executive officer[32]. - The Group is continuously enhancing risk management capabilities to ensure long-term stable development amid a complex macroeconomic environment[23]. - The Group does not expect the newly issued amendments to standards and interpretations to significantly affect its financial information[48]. Shareholder Information - Directors' interests in shares as of June 30, 2024, include Mr. CHING Chi Fai holding 22,690,000 shares and a total interest of 220,356,200 shares, representing approximately 30.01% of issued shares[25]. - The total number of issued shares as of June 30, 2024, was 734,262,697 shares[27]. - The company disclosed that none of the directors had any interest or short positions in shares or debentures of the company or its associated corporations as of June 30, 2024[29].

Financial Performance - Revenue increased by 10.9% to approximately HKD 1,023.4 million for the six months ended June 30, 2024, compared to HKD 922.8 million for the same period in 2023[1]. - Gross profit rose by 9.9% to approximately HKD 244.9 million, with a gross margin decrease of 0.3 percentage points to 23.9%[1]. - Operating profit was approximately HKD 64.0 million, up from HKD 56.3 million in the previous year[1]. - Profit attributable to owners of the company was approximately HKD 53.3 million, compared to HKD 38.5 million for the same period in 2023[1]. - The interim dividend declared is HKD 0.03 per share, an increase from HKD 0.02 per share in the previous year[1]. - The company reported a total comprehensive income of HKD 43.9 million for the period, compared to HKD 26.7 million in the previous year[3]. - The total profit for the period, after tax expenses, was reported at HKD 121,898,000[11]. - Basic earnings per share attributable to the company's owners increased to HKD 7.4, up 39.6% from HKD 5.3[25]. Revenue Breakdown - The revenue breakdown includes HKD 176,110,000 from hotel supplies, HKD 124,570,000 from operational supplies and equipment, and HKD 236,456,000 from healthcare and hygiene products[11]. - Revenue from the hotel supplies business increased by 14.2% to approximately HKD 857.8 million, accounting for 83.8% of total revenue[46]. - Revenue from the healthcare and hygiene products business was approximately HKD 83.3 million for the six months ended June 30, 2024, a decrease from HKD 105.3 million in the same period of 2023, representing 8.2% of total revenue[50]. - The operational supplies and equipment segment generated revenue of HKD 750,964,000, contributing significantly to the overall performance[11]. - The operational supplies and equipment business generated revenue of approximately HKD 82.3 million for the six months ended June 30, 2024, an increase of 23.8% from HKD 66.5 million in the same period of 2023, accounting for 8.0% of total revenue[48]. Expenses and Costs - The cost of goods sold for the six months ended June 30, 2024, was HKD 527,755, an increase from HKD 484,975 in 2023, reflecting a rise of about 8.8%[13]. - Employee benefits expenses increased to HKD 267,852 for the six months ended June 30, 2024, compared to HKD 226,586 in 2023, marking an increase of approximately 18.2%[13]. - The total tax expense for the six months ended June 30, 2024, was HKD 13,590, compared to HKD 22,887 in 2023, showing a decrease of approximately 40.6%[16]. - Depreciation of property, plant, and equipment was HKD 26,368 for the six months ended June 30, 2024, slightly down from HKD 26,933 in 2023, reflecting a decrease of about 2.1%[13]. Assets and Liabilities - Total assets decreased to HKD 1,869.0 million from HKD 1,965.2 million as of December 31, 2023[4]. - Total liabilities decreased to HKD 668.1 million from HKD 772.0 million[5]. - Cash and cash equivalents totaled HKD 314.366 million as of June 30, 2024, compared to HKD 375.093 million at the end of 2023[21]. - Net trade receivables as of June 30, 2024, were HKD 559.995 million, down from HKD 609.771 million as of December 31, 2023[18]. - Trade payables as of June 30, 2024, were HKD 226.713 million, a decrease from HKD 282.462 million as of December 31, 2023[22]. Strategic Focus and Future Outlook - The group continues to focus on market expansion and product development strategies to enhance future growth prospects[11]. - The company aims to expand its presence in Southeast Asia, having commenced operations of a liquid product production line in Cambodia to enhance cost efficiency and tap into market opportunities[53]. - The company is committed to sustainable development and green production processes in its hotel supplies and healthcare businesses, aligning with increasing environmental standards[54]. - The company anticipates that international tourism will fully recover in 2024, despite ongoing economic challenges, and will actively seek to identify market changes to ensure stable growth[52]. Corporate Governance and Compliance - The company has complied with all provisions of the Corporate Governance Code as per the Hong Kong Stock Exchange, except for the appointment of a CEO, which is currently managed collectively by all executive directors[59]. - The audit committee, composed of four independent non-executive directors, has reviewed the unaudited condensed consolidated interim results for the six months ended June 30, 2024[60]. - The company has adopted the Standard Code for Securities Transactions by Directors as per the listing rules, and all directors have confirmed compliance for the six months ended June 30, 2024[61]. Employee Performance and Incentives - The company has implemented key performance indicator assessment plans and annual incentive schemes to enhance employee performance and operational efficiency[57]. - The board believes that the current arrangement of having all executive directors share the responsibilities of the CEO is beneficial for leveraging diverse expertise[59]. - The company is committed to regular reviews of employee remuneration based on market terms and individual qualifications[57].

Financial Performance - For the year ended December 31, 2023, the revenue increased to HK$2,067,273,000, representing a growth of 15.3% compared to HK$1,793,025,000 in 2022[8] - Profit before income tax for 2023 was HK$144,074,000, a significant increase from HK$89,986,000 in 2022, marking a growth of 60.0%[8] - The profit for the year was HK$95,631,000, up from HK$69,842,000 in 2022, reflecting a year-on-year increase of 37.0%[8] - Gross profit rose by 18.1% to approximately HK$501.7 million, up from approximately HK$424.8 million in the previous year[21] - Operating profit was approximately HK$144.1 million, significantly higher than approximately HK$91.8 million for the year ended December 31, 2022[21] - Profit attributable to owners of the Company was approximately HK$104.2 million, compared to approximately HK$75.5 million for the year ended December 31, 2022[21] - The gross profit margin increased by 0.6 percentage points to 24.3%, compared to 23.7% for the year ended December 31, 2022[21] - The annual dividend payout ratio increased to 48.6%, up from 38.5% for the year ended December 31, 2022[21] Assets and Liabilities - Total assets as of December 31, 2023, reached HK$1,965,228,000, an increase of 12.3% from HK$1,749,461,000 in 2022[8] - Current assets rose to HK$1,406,916,000 in 2023, compared to HK$1,204,330,000 in 2022, indicating a growth of 16.8%[8] - Total equity increased to HK$1,193,216,000 in 2023, up from HK$1,131,481,000 in 2022, representing a growth of 5.5%[8] - Current liabilities increased to HK$748,596,000 in 2023, compared to HK$596,371,000 in 2022, reflecting a rise of 25.5%[8] - Non-current liabilities were reported at HK$23,416,000 in 2023, a slight increase from HK$21,609,000 in 2022[8] Market and Business Strategy - The company plans to continue expanding its market presence and invest in new product development to drive future growth[6] - The management expressed optimism about future performance, citing ongoing strategic initiatives and market opportunities[6] - The Group plans to explore potential business opportunities in surrounding Southeast Asian countries while maintaining market sensitivity and adjusting production capacity as needed[36] - The Group aims to expand its replenishment business scale and seize development opportunities in hotel construction projects in Southeast Asia to enhance growth potential in the OS&E business[113] - The Group plans to optimize product categories and quality while adjusting product mix strategies to strengthen partnerships within the hospitality industry[113] Industry Trends - The global tourism industry showed a gradual recovery, with international tourism reaching 88% of pre-pandemic levels by the end of 2023, with an estimated 1.3 billion international arrivals[30] - International air capacity and passenger demand recovered to about 90% of pre-pandemic levels through October 2023[30] - Global occupancy rates in accommodation establishments reached 65% in November 2023, slightly above 62% in November 2022[30] - The overall performance of international tourism improved, with nearly 1.3 billion international arrivals in 2023, representing a year-on-year increase of 33.9%[94] - The global tourism industry is expected to fully recover to pre-pandemic levels in 2024, with an initial estimate of 2% growth above 2019 levels, contingent on the recovery pace in Asia and geopolitical risks[126] Production and Operations - The Group operates production lines for hospitality supplies in Cambodia, benefiting from abundant labor resources and favorable geographical location, which aids in reducing production costs[36] - The Group has strategically initiated operations at its first Southeast Asia-oriented production line in Cambodia, expanding into liquid products, socks, and handbags to achieve cost-efficiency in manufacturing[127] - The Group is committed to the research and development of green products, incorporating more environmentally friendly materials in hospitality supplies and healthcare products to meet rising ESG standards[128] Leadership and Governance - The company has a strong leadership team with extensive experience in the hospitality supplies industry, including Mr. CHING Chi Fai, Mr. LIU Zigang, and Mr. CHING Tsun Wah[146][147][148] - The company has established various committees, including the Nomination Committee, Executive Committee, and Investment Committee, to guide its strategic initiatives[146] - The company has a diverse board with expertise in finance, hospitality, and manufacturing, enhancing its strategic decision-making capabilities[157] - The company maintains a strong governance structure with various committees, including Audit, Nomination, and Remuneration Committees[156] Risks and Challenges - The Group faces risks related to reliance on direct sales customers and distributors, which may impact future sales volumes[178] - Price fluctuations of raw materials pose a risk to the Group's profitability, as increased costs may not be recoverable through price adjustments[187] - Operational risks include potential defaults by customers and inadequacies in internal processes, which could negatively affect operational results[188] - Market risks such as currency fluctuations and interest rate volatility are inherent in the Group's business operations[189] - Compliance with laws and regulations is critical, as non-compliance may lead to significant fines and operational disruptions[190] Corporate Social Responsibility - The Group is committed to sustainable development and corporate social responsibility (CSR), focusing on environmental protection and community contributions[199] - CSR is viewed as a responsibility towards the community, integrating environmental management into business planning and operations[200]

Financial Performance - Total revenue for the year ended December 31, 2023, was HKD 1,077,213,000, an increase from HKD 948,165,000 in 2022, representing a growth of approximately 13.6%[15] - The company's total revenue for the year ended December 31, 2023, increased by 15.3% to approximately HKD 2,067.3 million, compared to HKD 1,793.0 million for the year ended December 31, 2022[55] - The profit attributable to the company's owners for the year ended December 31, 2023, was approximately HKD 104.2 million, compared to HKD 75.5 million for the year ended December 31, 2022[56] - Basic and diluted earnings per share for the year ended December 31, 2023, were both 14.4 HK cents, up from 10.4 HK cents for the year ended December 31, 2022[57] - Gross profit rose by 18.1% to approximately HKD 501.7 million, up from HKD 424.8 million for the previous year[100] - Operating profit was approximately HKD 144.1 million, compared to HKD 91.8 million for the year ended December 31, 2022[100] - The group reported a net profit before tax of HKD 1,965,228,000 for the year ending December 31, 2023, compared to HKD 772,012,000 for the previous year, indicating a substantial growth[125] Dividends and Equity - The company proposed a final dividend of HKD 36,713,000 for the year, compared to HKD 22,028,000 in the previous year, which is an increase of approximately 66.7%[2] - The proposed final dividend for the year ended December 31, 2023, is HKD 0.05 per share, subject to shareholder approval at the annual general meeting[80] - The proposed final dividend for the year is HKD 0.05 per share, totaling HKD 7.0 per share including the interim dividend, with a payout ratio of 48.6%[100] - The company’s total equity as of December 31, 2023, was HKD 1,193,216,000, up from HKD 1,131,481,000 in 2022, representing an increase of approximately 5.5%[2] Expenses and Liabilities - Employee benefits expenses increased to HKD 494,167,000 in 2023 from HKD 424,453,000 in 2022, marking a growth of around 16.4%[15] - Current liabilities increased to HKD 748.6 million from HKD 596.4 million in the previous year[102] - The company’s total liabilities decreased from HKD 110.8 million in 2022 to HKD 49.2 million in 2023, indicating improved financial stability[150] Revenue Breakdown - The hotel supplies business, operational supplies and equipment business, and healthcare and hygiene products business generated revenues of approximately HKD 1,697.2 million, HKD 193.3 million, and HKD 176.8 million, respectively, accounting for 82.1%, 9.4%, and 8.5% of total revenue[55] - For the year ended December 31, 2023, the hotel supplies business revenue increased by 23.3% to approximately HKD 1,697.2 million, accounting for 82.1% of total revenue[159] - The revenue from health care and hygiene products in Hong Kong for the year ending December 31, 2023, was approximately HKD 4.3 million, a significant decrease from HKD 77.7 million in the previous year, accounting for 2.4% of total revenue in this category[184] Market and Strategic Initiatives - The company plans to expand its market presence in Southeast Asia, focusing on increasing its footprint in Cambodia and Singapore[55] - New product development initiatives are underway, particularly in the healthcare and hygiene sector, to meet growing consumer demand[55] - The company is exploring potential acquisitions to enhance its operational capabilities and market reach[55] - The company aims to produce high-quality health care and hygiene products to meet diverse market demands, while also adapting to changes in market supply and demand structures post-COVID-19[73] - The company is committed to developing green products to meet local government and customer demands for sustainable governance and operational models[66] Operational Efficiency - The company reported a gross profit margin improvement, reflecting effective cost management strategies implemented during the year[46] - The company maintained a prudent capital management policy and actively managed its liquidity position to meet operational and future funding needs[143] - The company has adopted a flexible development strategy to effectively manage market risks and maintain a solid foundation for long-term growth opportunities[67] Compliance and Governance - The company has maintained compliance with the corporate governance code as per the Hong Kong Stock Exchange, except for the absence of a CEO, with responsibilities shared among all executive directors[187] - The company has a dedicated audit committee composed of four independent non-executive directors to review its annual performance[188]

Financial Performance - Revenue increased by 3.6% to approximately HK$922.8 million for the six months ended June 30, 2023, compared to approximately HK$890.6 million for the same period in 2022[8]. - Gross profit rose by 12.3% to approximately HK$222.9 million, up from approximately HK$198.4 million in the prior year[8]. - Gross profit margin improved by 1.9 percentage points to 24.2%, compared to 22.3% for the six months ended June 30, 2022[8]. - Operating profit was approximately HK$56.3 million, an increase from approximately HK$39.1 million in the same period last year[8]. - Profit attributable to owners of the Company was approximately HK$38.5 million, compared to approximately HK$28.1 million for the six months ended June 30, 2022[8]. - Basic and diluted earnings per Share attributable to owners of the Company for the six months ended June 30, 2023 were HK5.3 cents, up 35.9% from HK3.9 cents for the same period in 2022[13]. - Profit for the period was HK$31,691,000, compared to HK$26,065,000 in 2022, reflecting a growth of 21.0%[82]. - The comprehensive income for the period ended June 30, 2023, was HK$26,681,000, compared to HK$14,226,000 for the same period in 2022, indicating a year-over-year increase of approximately 87.5%[85]. Dividends - An interim dividend of HK2.0 cents per share was declared for the six months ended June 30, 2023, up from HK1.0 cent per share in the previous year[8]. - The Company declared an interim dividend of HK$0.02 per share for the six months ended 30 June 2023, with payment expected around 28 September 2023[73]. - A final dividend of HK3.0 cents per Share was approved on 24 May 2023, with a total dividend payout of approximately HK$22,028,000 during the six months ended 30 June 2023[200]. Revenue Breakdown - The revenue from the hospitality supplies business was approximately HK$751.0 million, representing 81.4% of the Group's total revenue, compared to 73.5% in the same period of 2022[17]. - Revenue from the hospitality supplies business increased by 14.8% to approximately HK$751.0 million for the six months ended June 30, 2023, contributing 81.4% to the Group's total revenue[35]. - Revenue from the health care and hygienic products business for the six months ended June 30, 2023, was approximately HK$105.3 million, a decline from HK$165.8 million for the same period in 2022, contributing 11.4% to total revenue[40]. - Revenue from health care and hygienic products in Hong Kong was approximately HK$3.5 million, a significant drop from HK$72.1 million in the same period of 2022, representing only 3.3% of total segment revenue[40]. - Revenue from North America and other markets for health care and hygienic products was approximately HK$95.8 million and HK$6.0 million, respectively, compared to HK$72.9 million and HK$20.8 million in the same period of 2022, representing 91.0% and 5.7% of total segment revenue[40]. Cost Management and Profitability - The Group actively manages its liquidity position with standby banking facilities to support daily operations and potential capital demands for future development[13]. - The Group has implemented various measures, including enhanced cost control, contributing to the improved gross profit margin[17]. - The Group plans to control costs and increase efficiency by utilizing resources in Cambodia and seeking cost-effective raw materials to improve profit margins amid rising production costs[46]. - The Group reported finance costs of HK$3,489,000 for the six months ended June 30, 2023, which is an increase from HK$1,679,000 in the same period of 2022, representing a rise of about 108.5%[184]. - Finance income for the six months ended June 30, 2023, was HK$1,787,000, significantly higher than HK$168,000 in the same period of 2022, marking an increase of approximately 964.3%[184]. Assets and Liabilities - As of June 30, 2023, the Group's cash and cash equivalents amounted to approximately HK$356.6 million, an increase from approximately HK$305.4 million as of 31 December 2022[13]. - The Group's net assets as of 30 June 2023 were approximately HK$1,136.4 million, slightly up from approximately HK$1,131.5 million as of 31 December 2022[13]. - Total assets as of June 30, 2023, amounted to HK$1,803,329,000, an increase from HK$1,749,461,000 at the end of 2022[79]. - Total current liabilities increased to HK$643,538,000 from HK$596,371,000 at the end of 2022[80]. - The Group's total borrowings amounted to HK$92,930,000, a decrease from HK$108,547,000 as of December 31, 2022, representing a reduction of approximately 14.4%[173]. Market Outlook and Strategy - The global tourism industry is expected to fully recover, driven by the post-pandemic "revenge travel" trend and various regions' strategies to attract tourists[40]. - The Group is optimistic about the Southeast Asian market due to its rapid economic growth and increasing consumer demand, planning to enhance production efficiency in Cambodia to meet hospitality supply needs[41]. - The Group aims to expand its health care and hygienic products business by strengthening R&D and leveraging online marketing to reach more target customer groups, including individual consumers and hospitals[41]. - The Group is committed to establishing a green production system by adopting environmentally friendly materials and optimizing its production system to improve ESG performance[41]. Financial Risks and Management - The Group's activities are exposed to various financial risks, including market risk, credit risk, and liquidity risk[96]. - The Group has not experienced any changes in financial risk management since year-end[96]. - The Group's cash and bank balances in the PRC as of June 30, 2023, were approximately HK$84,654,000, up from approximately HK$67,253,000 as of December 31, 2022[162]. Shareholder Information - As of June 30, 2023, the total number of issued shares was 734,262,697[51]. - The total interests of the directors and substantial shareholders indicate a significant concentration of ownership within the company[56]. - The company aims to attract and retain talent through its share award scheme, which has been in place since September 23, 2016[167].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準 確性或完整性亦不發表任何聲明，並明確表示概不對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。 （於開曼群島註冊成立之有限公司） （股份代號：03828） 二零二三年中期業績公告 截至二零二三年六月三十日止六個月之摘要 • 收入增加3.6%至約922.8百萬港元（截至二零二二年六月三十日止六個月：約890.6百萬 港元）。 • 毛利增加12.3%至約222.9百萬港元（截至二零二二年六月三十日止六個月：約198.4百 萬港元）。 • 毛利率上升1.9個百分點至24.2%（截至二零二二年六月三十日止六個月：22.3%）。 • 經營溢利約56.3百萬港元（截至二零二二年六月三十日止六個月：約39.1百萬港元）。 • 本公司擁有人應佔溢利約38.5百萬港元（截至二零二二年六月三十日止六個月：約28.1 百萬港元）。 • 宣派截至二零二三年六月三十日止六個月之中期股息為每股本公司股份（「股份」）2.0 港仙（截至二零二二年六月三十日止六個月：每股1.0港仙）。 ...

Financial Performance - Revenue increased by 24.9% to approximately HK$1,793.0 million for the year ended 31 December 2022, compared to approximately HK$1,435.8 million for the previous year[22]. - Gross profit margin increased by 4.9 percentage points to 23.7% for the year ended 31 December 2022, up from 18.8% in the previous year[23]. - Profit attributable to owners of the Company was approximately HK$75.5 million for the year ended 31 December 2022, a significant recovery from a loss of approximately HK$93.5 million in the previous year[24]. - Gross profit increased by 57.6% to approximately HK$424.8 million for the year ended December 31, 2022, compared to approximately HK$269.6 million for the previous year[37]. - Operating profit was approximately HK$91.8 million, a significant recovery from an operating loss of approximately HK$92.4 million in the prior year[38]. - Total revenue rose by 24.9% to approximately HK$1,793.0 million, up from approximately HK$1,435.8 million in the previous year[57]. - The Group recorded a revenue of approximately HK$1,793.0 million for the year ended 31 December 2022, representing a 24.9% increase compared to HK$1,435.8 million for the year ended 31 December 2021[70]. - Gross profit for the year ended 31 December 2022 was approximately HK$424.8 million, a 57.6% increase from HK$269.6 million for the year ended 31 December 2021[70]. - Profit attributable to owners of the Company for the year ended 31 December 2022 was approximately HK$75.5 million, compared to a loss of approximately HK$93.5 million for the year ended 31 December 2021[70]. - Basic and diluted earnings per share attributable to owners of the Company for the year ended 31 December 2022 were HK10.4 cents, compared to a loss of HK12.8 cents per share in the prior year[85]. Revenue Breakdown - The hotel supplies business generated revenue of approximately HK$1,376.9 million, accounting for 76.8% of total revenue, while health care and hygiene products contributed approximately HK$266.7 million, or 14.9%[57]. - The hospitality supplies business contributed approximately HK$1,376.9 million, while the OS&E business and health care products contributed HK$149.4 million and HK$266.7 million, respectively, for the year ended 31 December 2022[70]. - Revenue from the health care and hygienic products business segment generated approximately HK$266.7 million for the year ended December 31, 2022, an increase from HK$191.3 million in the previous year, representing 14.9% of total revenue[134]. - Revenue from the health care and hygienic products business for the year ended December 31, 2022, was approximately HK$266.7 million, a 39.4% increase from approximately HK$191.3 million in 2021, contributing 14.9% to the Group's total revenue[162]. - Revenue from Hong Kong's health care and hygienic products business was approximately HK$77.7 million in 2022, up from approximately HK$51.9 million in 2021, representing 29.1% of the total revenue from this segment[177]. Dividends - The proposed final dividend for the year ended 31 December 2022 is HK$0.03 per share, with a total dividend of HK$0.04 per share for the year, representing a payout ratio of 38.5%[27]. - A proposed final dividend of HK3.0 cents per share was recommended, alongside an interim dividend of HK1.0 cent per share, resulting in a total dividend of HK4.0 cents per share and an annual payout ratio of 38.5%[39]. - The Board proposed a final dividend of HK3.0 cents per share for the year ended December 31, 2022, with total expected dividends of HK4.0 cents per share[85]. Business Strategy and Outlook - The Group plans to continue investing in product research and development to enhance capabilities and meet changing market demands[6]. - The Group aims to expand its business scope in health care and hygienic products to enhance brand penetration and operational efficiency[6]. - The Group is optimistic about future prospects in the health care products industry and will adjust marketing strategies to enhance business development opportunities[6]. - The Group plans to adopt advanced technology for the research and development of health care and hygiene products to meet growing market demand[48]. - The Group aims to optimize its product mix and enhance competitiveness to capture market opportunities and improve business performance[49]. - The Group anticipates a recovery in global tourism, projecting a 30% increase in international tourist arrivals in 2023, reaching 1.6 billion[143]. - The Group's strategy includes developing the Southeast Asia market to capitalize on the recovery of the tourism sector[144]. - The Group plans to explore potential demand in the operating supplies and equipment market and expand its replenishment business scale to enhance customer loyalty[133]. Asset and Equity Position - Total assets as of 31 December 2022 were approximately HK$1,749.5 million, with total equity of approximately HK$1,131.5 million[29]. - The Group's cash and cash equivalents as of December 31, 2022, amounted to approximately HK$305.4 million, an increase from approximately HK$251.2 million as of December 31, 2021[85]. - The Group's net assets as of December 31, 2022, were approximately HK$1,131.5 million, compared to HK$1,094.4 million as of December 31, 2021[85]. Market Conditions and Risks - The outlook for the global tourism industry remains cautiously optimistic, with recovery dependent on economic and public health factors[49]. - The domestic economy and tourism industry in China are expected to improve following the lifting of entry restrictions, positively impacting the company's hotel supplies business[51]. - The global tourism recovery is reflected in the increase of international tourists to over 900 million in 2022, which is double the number recorded in 2021[128]. - The easing of COVID-19 restrictions has positively impacted the demand for hospitality supplies, contributing to the overall revenue growth[128]. - The Group is exposed to foreign exchange risk primarily with respect to Renminbi (RMB) and does not currently deploy a foreign currency hedging policy[100]. Corporate Governance - The Company emphasizes high standards of corporate governance practices, focusing on accountability and transparency[196]. - The Board reviews its corporate governance practices periodically to meet rising shareholder expectations[196]. - The Group complied with all code provisions in the "Corporate Governance Code" except for certain deviations[197].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準 確性或完整性亦不發表任何聲明，並明確表示概不對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。 （於開曼群島註冊成立之有限公司） （股份代號：03828） 截至二零二二年十二月三十一日止年度之全年業績 截至二零二二年十二月三十一日止年度之摘要 • 收入增加24.9%至約1,793.0百萬港元（截至二零二一年十二月三十一日止年度：約1,435.8 百萬港元）。 • 毛利上升57.6%至約424.8百萬港元（截至二零二一年十二月三十一日止年度：約269.6 百萬港元）。 • 毛利率上升4.9個百分點至23.7%（截至二零二一年十二月三十一日止年度：18.8%）。 • 經營溢利約91.8百萬港元（截至二零二一年十二月三十一日止年度：經營虧損約92.4百 萬港元）。 • 本公司擁有人應佔溢利約75.5百萬港元（截至二零二一年十二月三十一日止年度：本 公司擁有人應佔虧損約93.5百萬港元）。 • 截至二零二二年十二月三十一日止年度的建議末期股息為每股本公司股份（「股份」）3.0 ...