Financial Performance - Total revenue for the year ended December 31, 2023, was reported at 220,144 thousand HKD, a decrease from 320,349 thousand HKD in 2022, representing a decline of approximately 31.2%[21] - The net loss attributable to the company's owners for 2023 was 81,496 thousand HKD, compared to a loss of 25,134 thousand HKD in 2022, indicating a significant increase in losses[4] - The total comprehensive expenses for the year amounted to 145,323 thousand HKD, up from 57,581 thousand HKD in the previous year, marking an increase of approximately 152.5%[34] - The group's pre-tax loss for 2023 was HKD 129,335,000, compared to a loss of HKD 32,298,000 in 2022, representing a significant increase in losses[82] - The group recorded a loss of approximately HKD 129.3 million for the fiscal year 2023, compared to a loss of approximately HKD 32.4 million in fiscal year 2022[178] - The group reported a total revenue of HKD 321.7 million for fiscal year 2023, down 22.9% from HKD 417.1 million in fiscal year 2022[114] Assets and Liabilities - Non-current assets decreased to 60,571 thousand HKD in 2023 from 74,808 thousand HKD in 2022, a decline of about 19%[36] - Current assets totaled 257,372 thousand HKD in 2023, down from 278,860 thousand HKD in 2022, representing a decrease of approximately 7.7%[36] - The total equity attributable to the owners of the company was 85,149 thousand HKD in 2023, down from 162,655 thousand HKD in 2022, indicating a decrease of approximately 47.7%[37] - The group’s total liabilities for bank and other borrowings reached HKD 64,733,000 in 2023, slightly down from HKD 64,963,000 in 2022[97] - The capital debt ratio increased significantly to approximately 60.5% as of December 31, 2023, from approximately 19.1% as of December 31, 2022, primarily due to impairment losses from retail operations involving AI vending machines[166] Cash Flow and Financing - The company's cash and cash equivalents decreased significantly to 35,352 thousand HKD in 2023 from 81,447 thousand HKD in 2022, a decline of about 56.6%[36] - The net cash flow from operating activities was a negative HKD 76.7 million in fiscal year 2023, compared to a positive HKD 27.0 million in fiscal year 2022[180] - The financing activities generated a net cash flow of approximately HKD 54.5 million in fiscal year 2023, reflecting an increase in interest-bearing bank borrowings and share subscription proceeds[181] - As of December 31, 2023, bank borrowings amounted to approximately HKD 11.4 million, an increase from approximately HKD 8.0 million in fiscal year 2022[183] - The financing costs increased to approximately HKD 2.6 million in fiscal year 2023, up about 62.5% from HKD 1.6 million in fiscal year 2022[160] Expenses - Research and development expenses decreased to 38,670 thousand HKD in 2023 from 45,100 thousand HKD in 2022, reflecting a reduction of about 14.3%[21] - Sales and distribution expenses increased by approximately 56.7% to about HKD 47.4 million in fiscal year 2023, primarily due to increased expenses related to the retail business through AI vending machines[142] - The group's administrative expenses rose by approximately 44.2% to about HKD 73.1 million in fiscal year 2023, driven by costs associated with the retail business[156] - The group’s depreciation expenses for right-of-use assets increased to HKD 19,153,000 in 2023 from HKD 15,011,000 in 2022, an increase of 28%[88] Impairment and Losses - The company reported a significant impairment loss of 36,430 thousand HKD in 2023, compared to only 1,151 thousand HKD in 2022, indicating a substantial increase in impairment charges[3] - Impairment losses increased significantly from approximately HKD 1.2 million in fiscal year 2022 to about HKD 36.4 million in fiscal year 2023, mainly due to provisions for impairment losses related to non-current assets[158] - The group recognized a loss of HKD 4,224,000 in impairment losses on trade and factoring receivables during 2023[91] Revenue Streams - The group's camera products and related accessories business recorded revenue of approximately HKD 308.2 million in the fiscal year 2023, a decrease of about 26.1% compared to approximately HKD 416.8 million in fiscal year 2022[106] - The revenue from retail operations through AI vending machines was approximately HKD 13.4 million in fiscal year 2023, a significant increase of about 5,475.0% compared to approximately HKD 0.2 million in fiscal year 2022[115] - The group’s manufacturing service revenue decreased by 96.1%, from HKD 13.5 million in fiscal year 2022 to HKD 0.5 million in fiscal year 2023[114] Strategic Initiatives - The company acquired 51% of Wuhan Xiu Life's issued share capital on November 30, 2022, to expand its business operations in the unmanned convenience store sector[70] - The group plans to expand its AI vending machine business in various locations across China, including residential areas, offices, hotels, schools, hospitals, sports centers, and parks to increase sales revenue[134] - The group anticipates that new projects in the camera products and related accessories business will begin mass production in the second quarter of 2024, leading to a significant improvement in performance in the second half of 2024[110] - The group faced delays in mass production of several planned projects originally scheduled for the fourth quarter of 2023, now pushed to the second quarter of 2024, impacting the 2023 performance[107] Employee and Talent Management - As of December 31, 2023, the group employed 848 staff members, a decrease from 860 in the previous year[190] - The employee costs for the fiscal year 2023 amounted to approximately HKD 112.5 million, down from HKD 120.0 million in fiscal year 2022[190] - The group aims to provide above-market compensation to R&D personnel to attract and retain talent[190] Compliance and Governance - The group has established a financial investment policy that limits any single investment to a maximum of 35% of the total investment amount[188] - The financial products held by the group must comply with specific standards, including being issued by reputable listed banks and having a maturity of less than one year[188] - The group’s financial investment policy is regularly reviewed by management, internal auditors, and the board to assess compliance and associated risks[189]

Financial Performance - The group recorded a net loss of approximately HKD 49.6 million for the first half of 2023, with non-controlling interests accounting for approximately HKD 10.5 million of the loss[23]. - For the six months ended June 30, 2023, the group's revenue from camera products and related accessories was approximately HKD 138.9 million, a decrease of about 47.5% compared to approximately HKD 264.6 million in the same period of 2022[49]. - The gross profit for the same period was HKD 19.8 million, representing a gross margin of 13.9%, down from 16.4% in the previous year, indicating a decline of 2.5 percentage points[45]. - The net loss for the period was HKD 49.6 million, a significant increase of 3,027.3% compared to a loss of HKD 1.6 million in the prior year[45]. - Revenue for the six months ended June 30, 2023, was HKD 142,940,000, a decrease of 46% compared to HKD 264,630,000 for the same period in 2022[189]. - Gross profit for the same period was HKD 19,800,000, down 54% from HKD 43,340,000 in 2022[189]. - Operating loss for the six months ended June 30, 2023, was HKD 48,636,000, compared to an operating loss of HKD 649,000 in 2022[189]. - Net loss attributable to the company's owners for the period was HKD 39,030,000, compared to a profit of HKD 1,611,000 in the previous year[189]. - Basic and diluted loss per share for the six months ended June 30, 2023, was HKD 4.0 cents, compared to earnings of HKD 0.2 cents in 2022[189]. - Total comprehensive loss for the period was HKD 60,682,000, significantly higher than HKD 16,730,000 in 2022[190]. Assets and Liabilities - The group’s total assets were approximately HKD 387.5 million as of June 30, 2023, down from HKD 541.7 million as of December 31, 2022[20]. - The group’s total liabilities were approximately HKD 215.6 million as of June 30, 2023, compared to HKD 251.8 million as of December 31, 2022[20]. - The company's total equity decreased to HKD 171,935 million from HKD 289,830 million, indicating a reduction of approximately 40.6%[193]. - The cash and cash equivalents decreased to HKD 67,290 million from HKD 81,447 million, a decline of about 17.3%[197]. - Trade and other receivables increased significantly to HKD 61,170 million from HKD 29,513 million, marking a growth of approximately 106.6%[197]. - The total liabilities increased to HKD 215,602 million from HKD 251,663 million, a decrease of approximately 14.3%[192]. - The company’s non-current liabilities decreased to HKD 15,370 million from HKD 69,003 million, reflecting a significant reduction of about 77.7%[192]. Employee and Operational Metrics - The group employed a total of 950 employees as of June 30, 2023, compared to 860 employees as of December 31, 2022[14]. - Sales and distribution expenses increased by approximately 44.3% to about HKD 20.3 million, primarily due to expenses related to the AI vending machine retail business[62]. - Administrative expenses rose by approximately 33.9% to about HKD 33.9 million, mainly due to increased costs associated with the AI vending machine retail operations[63]. - Research and development costs for the first half of 2023 were approximately HKD 19.9 million, a decrease of about 15.3% from HKD 23.5 million in the first half of 2022, primarily due to reduced salaries and benefits for R&D staff[98]. Cash Flow and Financing - The group’s cash flow from operating activities for the first half of 2023 was a net outflow of approximately HKD 60.5 million, primarily reflecting a pre-tax loss of approximately HKD 49.6 million[25]. - The group’s cash and cash equivalents decreased by approximately HKD 5.4 million during the first half of 2023, resulting in a closing balance of HKD 67.3 million[25]. - The group holds an 8.47% stake in startup Shenzhen Kandao Technology Co., Ltd., acquired for an initial amount of HKD 45.4 million[15]. - The group’s bank financing was approximately HKD 46.5 million, with a significant portion utilized compared to HKD 8.0 million at the end of 2022[34]. - The debt-to-equity ratio increased to approximately 27.2% as of June 30, 2023, up from 10.7% at the end of 2022, primarily due to a significant increase in outstanding bank borrowings[29]. Strategic Outlook - The group expects stable development trends in the second half of 2023, supported by enhanced product promotion efforts[32]. - The group has initiated several new projects expected to begin mass production in August 2023 or later, aiming to improve the camera products and related accessories business in the second half of the year[52]. - The company anticipates that strategic partnerships with major appliance and property management companies will enhance the development of its AI vending machine business in the second half of 2023[71]. - The company plans to deepen operations across its main product lines and enhance competitive advantages to improve market share and customer service[74]. - The company faces challenges in its camera products and related accessories business due to global de-globalization trends and high inflation rates in the US and EU[73]. Corporate Governance - The company emphasizes high levels of corporate governance as a foundation for effective management and successful business growth[166]. - The company has established written guidelines for employees regarding securities trading to ensure compliance with insider trading regulations[157]. - The company has not identified any instances of employees violating the written guidelines during the interim period of 2023[157]. - The company is committed to developing and maintaining sound corporate governance practices to protect shareholder interests and enhance corporate value[166].

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的內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部 或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 SKY LIGHT HOLDINGS LIMITED 天彩控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號： 3882） 截至2023年6月30日止六個月的 中期業績公告 財務摘要 截至6月30日止六個月 2023年 2022年 變動 千港元 千港元 （未經審核） （未經審核） 收入 142,940 264,630 (46.0%) 銷售成本 (123,140) (221,290) (44.4%) 毛利 19,800 43,340 (54.3%) 毛利率(%) 13.9% 16.4% (2.5 p.p.t.) ...

Investment and Acquisitions - The company holds an 8.47% stake in Shenzhen Kandao Technology Co., Ltd., acquired for an initial amount of HKD 45.4 million between November 2016 and January 2017[1]. - As of December 31, 2022, the company's capital commitment related to this investment was approximately HKD 2.2 million, up from HKD 0.9 million on December 31, 2021[4]. - In November 2022, the company acquired a 51% stake in Wuhan Xiulife E-commerce Co., Ltd. for a total consideration of HKD 194,242,883, which included the issuance of 111,607,143 new shares at HKD 0.896 each and promissory notes totaling HKD 94,242,883[6]. - The acquisition was completed on November 30, 2022, with no other significant acquisitions or disposals of subsidiaries, associates, or joint ventures reported for the fiscal year 2022[6]. Financial Performance - The total revenue for the fiscal year 2022 was approximately HKD 417.1 million, a decrease of about 41.7% compared to HKD 715.1 million in fiscal year 2021[164]. - The cost of sales for 2022 was HKD 343.8 million, down 42.1% from HKD 593.3 million in 2021[157]. - The gross profit for 2022 was HKD 73.3 million, representing a decline of 39.8% from HKD 121.8 million in the previous year[157]. - The net loss for the year was HKD 31.2 million, a significant increase of 814.9% compared to a loss of HKD 3.4 million in 2021[157]. - The basic and diluted loss per share for 2022 was HKD 2.5 cents, compared to HKD 0.4 cents in 2021, reflecting a 525% increase in loss per share[157]. Corporate Governance - The company emphasizes maintaining high standards of corporate governance, adhering to the principles and code provisions of the Corporate Governance Code throughout the 2022 fiscal year, with one exception regarding the separation of roles between the Chairman and CEO[33]. - The company has adopted a standard code for monitoring directors' securities transactions, confirming full compliance throughout the 2022 fiscal year[37]. - The company has a nomination policy that aims to ensure a balanced mix of skills, experience, knowledge, and diversity among board members[56]. - The board consists of two executive directors, one non-executive director, and three independent non-executive directors, ensuring over one-third of the board is independent[43]. - The company has established three committees: Audit Committee, Remuneration Committee, and Nomination Committee, each with clear written terms of reference[76]. Risk Management - The company has established a risk management framework based on the "three lines of defense" model, ensuring effective risk identification and management[106]. - The internal audit department reported to the audit committee on the adequacy and effectiveness of internal controls throughout the fiscal year 2022[106]. - The audit committee has developed a whistleblowing policy to allow employees and other stakeholders to report any misconduct, ensuring transparency in investigations[115]. - The company aims to provide reasonable assurance against material misstatements or losses through its internal control framework, rather than absolute assurance[112]. - The group’s risk management and internal control systems were deemed sufficient and effective, including resources, staff qualifications, and training programs[120]. Future Outlook - The company anticipates stable development trends for its products in the upcoming year[2]. - The company expects improvements in manufacturing operations in the second half of 2023, despite challenges from inventory backlogs in the first half[173]. - New products are anticipated to be mass-produced in the second half of 2023, which is expected to help increase revenue and improve performance[173]. - The retail business through AI vending machines is expected to create new opportunities for growth in the post-COVID-19 recovery phase[181]. Shareholder Matters - The company does not plan to declare any final dividends for the fiscal year 2022, consistent with the previous fiscal year[9]. - The annual general meeting is scheduled for May 31, 2023[8]. - The company will suspend share transfer registration from May 25, 2023, to May 31, 2023, to determine eligibility for the upcoming annual general meeting[137].

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的內容概不負責，對 其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份 內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 SKY LIGHT HOLDINGS LIMITED 天 彩 控 股 有 限 公 司 (於開曼群島註冊成立的有限公司) (股份代號： 3882) 有關 2022 年度業績公告的澄清公告 茲提述天彩控股有限公司(「本公司」）於二零二三年三月三十日刊發之截至二零二二 年十二月三十一日止年度之年度業績公告（「該業績公告」）。 本公司董事（「董事」）會（「董事會」） 謹此澄清「本集團的核數師，德博會計師 事務所有限公司（「德博」）已就本集團截至2022年12月31日止年度的該業績公告中 有關本集團截至2022年12月31日止年度的綜合財務狀況表、綜合利潤表、綜合全面收 益表及相關附註所列數字與本集團該年度的經審計綜合財務報表所列載數額符合一 致。德博就此執行的工作不構成鑒證業務，德博並未對該業績公告發出任何意見或鑒 證結論」。 除上文所披露外，該業績公告所有其他資料保持不變。 承董事會命 天彩控股有限公司 主席 ...

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的內容 概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對 因本公告全部或任何部分內容而產生或因倚賴該等內容而引致的任何損 失承擔任何責任。 SKY LIGHT HOLDINGS LIMITED 天 彩 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：3882） 截 至2022年12月31日 止 年 度 的 年 度 業 績 公 告 財務摘要 2022年 2021年 變動 千港元 千港元 收入 417,077 715,093 (41.7%) 銷售成本 (343,805) (593,335) (42.1%) 毛利 73,272 121,758 (39.8%) 毛利率(%) 17.6% 17.0% 0.6個百份點 年內虧損 (31,217) (3,412) 814.9% ...

Financial Performance - Revenue for the six months ended June 30, 2022, was approximately HKD 264.6 million, a decrease of 16.6% compared to HKD 317.2 million for the same period in 2021[7]. - Gross profit for the same period was HKD 43.34 million, down 25.1% from HKD 57.86 million in 2021, resulting in a gross margin of 16.4%[7]. - The company recorded a loss of HKD 1.585 million, an improvement of 80.2% compared to a loss of HKD 7.992 million in the previous year[7]. - The group's revenue for the first half of 2022 was approximately HKD 264.6 million, a significant decrease of about 16.6% compared to HKD 317.2 million in the first half of 2021, primarily due to a reduction in the quantity of home surveillance cameras sold[24]. - Revenue from home surveillance cameras was HKD 165.0 million, accounting for 62.4% of total revenue, down from HKD 208.4 million (65.7%) in the previous year, representing a decline of 20.8%[24]. - Gross profit for the first half of 2022 was approximately HKD 43.3 million, a decrease of about 25.1% from HKD 57.9 million in the first half of 2021, with the gross margin dropping from 18.2% to 16.4%[31]. - The group recorded a loss of approximately HKD 1.6 million for the first half of 2022, with a loss attributable to non-controlling interests of about HKD 3.2 million[39]. - The net loss for the period was HKD 1,585 thousand, significantly improved from a loss of HKD 7,992 thousand in 2021, representing a reduction of 80.2%[138]. - Total comprehensive loss for the period was HKD 16,730 thousand, compared to a loss of HKD 4,101 thousand in 2021[138]. - The company reported a significant increase in other income and gains to HKD 19,535 thousand from HKD 725 thousand in 2021[135]. - The company reported a net loss of 1,611 thousand HKD for the period, compared to a loss of 3,196 thousand HKD in the previous year, indicating an improvement of approximately 49%[160]. - Total comprehensive income for the period amounted to a loss of 14,281 thousand HKD, a significant increase from a loss of 3,804 thousand HKD in the same period last year[160]. Cash Flow and Assets - The group's operating cash flow for the first half of 2022 was approximately HKD 5.6 million, reflecting a pre-tax loss of about HKD 1.6 million and a significant decrease in inventory of approximately HKD 79.7 million[41]. - Cash and cash equivalents at the end of the first half of 2022 amounted to HKD 90.9 million, an increase of HKD 4.7 million from HKD 86.3 million at the end of the previous year[41]. - The company's total assets as of June 30, 2022, were reported at 752,853 thousand HKD, reflecting a decrease from 716,766 thousand HKD at the beginning of the year[160]. - The company generated cash inflow from investing activities of 12,905 thousand HKD, compared to an outflow of 2,432 thousand HKD in the prior year[163]. - The cash and cash equivalents at the end of the period stood at 90,856 thousand HKD, an increase from 86,290 thousand HKD at the end of the previous year[163]. Operational Strategies - The company plans to focus on developing innovative products with market value to improve financial performance[19]. - The company aims to actively expand into markets in Japan, Europe, and other Asian countries[21]. - The company will optimize internal operations to enhance service efficiency for customers[23]. - The company anticipates increased demand for video conferencing equipment due to the shift towards remote work caused by the COVID-19 pandemic[16]. - The company will take effective measures to mitigate risks associated with unfavorable economic factors such as de-globalization and high inflation[16]. - The company aims to strengthen competitive advantages across its product categories through deeper integration of its main product lines[22]. Shareholder Information - As of June 30, 2022, the total number of issued shares was 952,739,455[77]. - Mr. Tang Wing-fong holds 417,717,600 shares, representing approximately 69.09% of the company's total issued shares[75]. - The major shareholder, China Merchants Yonglong Trust Co., Ltd., holds 417,717,600 shares, accounting for 43.84% of the total issued shares[81]. - The beneficial owner, Fortune Six Investment Limited, also holds 417,717,600 shares, which is 43.84% of the total issued shares[82]. - Ms. Tang Kam-siu has a controlled corporation interest of 39,192,000 shares, representing approximately 4.11%[75]. Corporate Governance - The company adheres to high corporate governance standards, following the principles and code provisions of the Corporate Governance Code as set out in the Listing Rules Appendix 14[115]. - The company has maintained a sufficient public float of at least 25% of its issued share capital since January 1, 2022[125]. - The Audit Committee reviewed the interim report for the six months ended June 30, 2022, and found no objections to the accounting treatment methods used by the company[120]. - The company has adopted the standard code of conduct for securities trading by directors and confirmed compliance throughout the first half of 2022[118]. - The Nomination Committee is responsible for reviewing the board's structure and diversity, and it consists of three members, including the Chairman[121]. - The company has established a written guideline for employees regarding securities trading, which is not less stringent than the standard code[118]. - The independent review of the interim financial data was conducted according to the relevant accounting standards, with no significant issues found[133]. - The Chairman and CEO roles are held by the same individual, which the board believes provides unified leadership beneficial for the company's business outlook[116]. - The company has three independent non-executive directors on the board to ensure a balance of power[116]. Employee Information - The group employed a total of 1,074 employees as of June 30, 2022, down from 1,448 employees as of December 31, 2021, with employee costs amounting to approximately HKD 65.3 million[55]. - Employee benefits expenses (excluding directors and CEO remuneration) totaled HKD 65,393 thousand, down from HKD 70,384 thousand, reflecting a reduction of about 7.1%[196]. Taxation and Subsidies - The group’s subsidiary in China benefits from a preferential tax rate of 15% due to its recognition as a high-tech enterprise[196]. - The group’s subsidiaries in the United States are subject to a federal tax rate of 21% and a state tax rate of 8.84%[196]. - The group’s subsidiary in the UK is subject to a corporate tax rate of 19%[196]. - The company received government subsidies amounting to HKD 1,749,000, down from HKD 2,982,000 in the previous year[190]. - The company incurred income tax expenses of HKD 17,000 for the six months ended June 30, 2022, related to corporate income tax in China[193].

Financial Performance - Total revenue for the fiscal year 2021 was approximately HKD 715.1 million, an increase of 63.6% compared to HKD 437.1 million in 2020[13]. - Gross profit for 2021 was HKD 121.8 million, representing a 99.4% increase from HKD 61.1 million in 2020, with a gross margin of 17.0%[7]. - The company recorded a loss attributable to owners of approximately HKD 3.4 million in 2021, a significant reduction of 95.2% from a loss of HKD 71.1 million in 2020[7]. - The cost of sales for the fiscal year 2021 was approximately HKD 593.3 million, representing 83.0% of total revenue, an increase of 57.8% from HKD 376.0 million in 2020[32]. - Operating cash flow for 2021 was approximately HKD 5.9 million, reflecting a significant improvement from a cash outflow of HKD 11.2 million in 2020[44]. - The company reported a net loss of approximately HKD 3.4 million for the fiscal year 2021, compared to a profit attributable to non-controlling interests of approximately HKD 0.4 million[42]. Growth Expectations - The improvement in financial performance was attributed to enhanced operations at the Vietnam factory, internal efficiency improvements, and an optimized customer portfolio[14]. - The company expects continued growth in its main product lines, including home surveillance cameras and remote teaching equipment, in 2022[20]. - The company expects continued growth in the contribution from home surveillance cameras in the coming years[28]. Sales Performance - Sales of home surveillance cameras reached HKD 494.8 million in 2021, accounting for 69.2% of total sales, with a year-on-year growth of 174.4%[28]. - The company recorded a revenue of approximately HKD 715.1 million for the fiscal year 2021, an increase of about 63.6% compared to HKD 437.1 million in 2020, primarily driven by a significant rise in sales of home surveillance cameras[28]. Challenges and Risks - Challenges anticipated in 2022 include de-globalization, high inflation, semiconductor shortages, and the impact of COVID-19 in Vietnam[21]. Investment and Capital Expenditures - The net cash flow used in investment activities for the fiscal year 2021 was approximately HKD 20.8 million, primarily for purchasing property, plant, and equipment, and intangible assets, with about HKD 20.5 million spent on upgrades[47]. - Capital expenditures for fixed and intangible assets in fiscal year 2021 were approximately HKD 20.5 million, compared to about HKD 3.9 million in fiscal year 2020[52]. Corporate Governance - The company is committed to maintaining high standards of corporate governance, which is essential for effective management and business growth[102]. - The company has complied with the corporate governance code throughout the fiscal year, except for a deviation regarding the roles of the chairman and CEO[102]. - The company has established a risk management policy to achieve its strategic objectives, monitored by the board[107]. - The company has adopted a formal function outline that delineates the powers reserved for the board and those delegated to management, enhancing operational efficiency[107]. Board and Management Structure - The management team includes experienced professionals with over 20 years in digital imaging and financial management[80][81][90]. - The board consists of two executive directors, one non-executive director, and three independent non-executive directors, ensuring a high level of independence for decision-making[109]. - The company secretary, Mr. Lu, also serves as the CFO, ensuring a cohesive approach to financial management[99]. Risk Management - The company has established a risk management framework based on the "three lines of defense" model to oversee risk management and internal controls[178]. - The internal audit department conducts regular assessments of the effectiveness of internal controls and reports findings to the audit committee[180]. - The risk management office coordinates the company's risk management efforts and reports significant risks to the audit committee[180]. Shareholder Engagement - The company has adopted a dividend policy aimed at providing stable and sustainable returns to shareholders, considering financial status, operational needs, and future expansion plans when proposing dividends[195]. - The company holds an annual general meeting for shareholders, with specific notice periods required for both annual and special meetings[196]. - Shareholders holding at least 10% of the paid-up capital can request a special general meeting, which must be held within two months of the request[197].

取扱 2021 Sky Light Holdings Limited 天彩控股有限公司 股份代號 3882 於開曼群島註冊成立之有限公司 天彩控股有限公司 天彩控股有限公司 2021 中期報告 目錄 02 財務摘要 03 公司資料 05 管理層討論及分析 14 其他資料 24 獨立會計師審閱報告 26 簡明綜合損益表 簡明綜合損益及其他全面收益表 27 28 簡明綜合財務狀況表 30 簡明綜合權益變動表 31 簡明綜合現金流量表 32 簡明綜合財務報表附註 財務摘要 | --- | --- | --- | --- | |-------------------------------------------|--------------------------|------------------------------------------|----------------| | | 2021年 千港元 (未經審核) | 截至6月30日止六個月 \n2020 年 (未經審核) | 變動 | | 收入 | 317,228 | 157,568 | 101.3% | | 銷售成本 | (259,372) | (1 ...

Financial Performance - Total revenue for the fiscal year 2020 was approximately HKD 437.1 million, a decrease of about 20.4% compared to HKD 549.1 million in 2019[14] - The gross profit for 2020 was HKD 62.5 million, with a gross margin of 11.4%, down from 14.0% in 2019, reflecting a decline of 2.6 percentage points[8] - The net loss for the fiscal year 2020 was approximately HKD 71.1 million, compared to a loss of HKD 84.5 million in 2019, representing a decrease of 15.9%[8] - Revenue from ODM/JDM business for the fiscal year 2020 was approximately HKD 437.1 million, down about 20% from HKD 549.1 million in 2019[21] - In the fiscal year 2020, the company recorded a revenue of approximately HKD 437.1 million, a decrease of about 20.4% compared to HKD 549.1 million in 2019, primarily due to the impact of COVID-19 on consumer demand and shipping delays[27] - The sales of home surveillance cameras accounted for 42.3% of total revenue in 2020, down from 51.2% in 2019, reflecting a decline of 34.2%[27] Operational Challenges - The company faced challenges due to COVID-19, which severely impacted production in the first half of 2020, despite a recovery in customer orders in the second half[15] - Semiconductor chip shortages affected the ability to meet order demands, contributing to the revenue decline[21] - The company relocated about 50% of its production equipment to Vietnam, but faced delays due to COVID-19 travel restrictions[16] - The company anticipates challenges in 2021 due to semiconductor shortages and rising component prices, and will work closely with suppliers to mitigate risks[22] Production Capacity and Strategy - The Vietnam factory, with an area of approximately 7,000 square meters, achieved a monthly production capacity of 130,000 units by the end of 2020[21] - The company aims to optimize operations and focus on serving medium to large quality customers to enhance future business development[16] - The company plans to continue optimizing internal operations and expects an increase in demand for remote video conferencing products due to travel restrictions[22] Research and Development - Research and development costs decreased by approximately 13.5% to HKD 50.1 million in 2020, down from HKD 57.9 million in 2019, as the company implemented strict cost controls[37] - The company is investing HKD 50 million in R&D for new technologies, aiming to enhance product features and user experience[102] Market Expansion and Future Outlook - The company expects continued growth in its core businesses, including home monitoring cameras and remote teaching equipment, in 2021[21] - The company aims to enhance market share by actively expanding into Japan, Europe, and mainland China markets[25] - Market expansion efforts include entering two new international markets, targeting a 30% increase in market share within these regions[102] - The company is considering strategic acquisitions to bolster its product portfolio, with a budget of up to HKD 300 million allocated for potential deals[102] Financial Position and Cash Flow - The net cash flow from operating activities for the fiscal year 2020 was approximately -6.3 million HKD, reflecting a pre-tax adjusted loss of about 4.9 million HKD and a decrease in trade receivables of approximately 15.9 million HKD[44] - The net cash flow from investing activities for the fiscal year 2020 was approximately 2.9 million HKD, primarily including payments of about 3.9 million HKD for property, plant, and equipment upgrades[45] - The net cash flow used in financing activities for the fiscal year 2020 was approximately -20.5 million HKD, mainly due to repayment of bank borrowings of about 4.7 million HKD and lease principal payments of approximately 15.6 million HKD[45] - As of December 31, 2020, the group's cash and cash equivalents amounted to 100.2 million HKD, a decrease of 23.9 million HKD from the beginning of the year[44] - The debt-to-equity ratio decreased from approximately 6.1% as of December 31, 2019, to approximately 5.6% as of December 31, 2020, due to a significant reduction in outstanding bank borrowings[50] Corporate Governance - The management team includes experienced professionals with over 20 years in digital imaging and financial management[77][78][87] - The company maintains a significant shareholding structure, with the founder holding approximately 68.41% of the issued shares as of December 31, 2020[77] - The board of directors consists of two executive directors and three independent non-executive directors, ensuring a balanced decision-making process[107] - The company has adopted a formal function outline to delineate the powers of the board and management, enhancing operational efficiency[105] - The company has established a system of internal checks and balances to ensure competent individuals are appointed to the board and senior management[112] - Independent non-executive directors possess extensive professional knowledge and experience in accounting, finance, and business, ensuring independent opinions and judgments are influential in decision-making[115] Audit and Compliance - The Audit Committee held four meetings during the year to review and discuss the audited consolidated financial statements for the year ended December 31, 2019, and the unaudited interim financial statements for the six months ended June 30, 2020[140] - The company adopted relevant accounting standards and practices, and the Audit Committee reviewed the effectiveness of internal controls and risk management procedures[141] - The company engaged Ernst & Young as its external auditor for the fiscal year 2020, with audit fees amounting to HKD 2.3 million[155] - The audit committee reviewed the company's corporate governance policies and compliance with legal and regulatory requirements during the fiscal year[156] Risk Management - The company has established a clear organizational structure for risk management, with responsibilities defined at various levels[161] - The internal audit department reports to the audit committee on the effectiveness of internal controls at regular meetings throughout the year[161] - The company follows the COSO internal control framework to ensure effective risk management and internal controls[165] - The risk management office coordinates the company's risk management efforts and reports significant risks to the audit committee[161] - The company emphasizes transparency and accountability in its corporate governance policies, focusing on board quality and effective internal controls[156] Dividend Policy - The board does not recommend any final dividend for the fiscal year 2020, consistent with the previous fiscal year[74] - The company reported no final dividend for the fiscal year 2020, consistent with 2019[188] - As of December 31, 2020, the distributable reserves were approximately HKD 25.1 million, down from HKD 89.2 million in 2019[196] Employee and Social Responsibility - The group employed a total of 1,482 employees as of December 31, 2020, compared to 1,200 employees as of December 31, 2019, with employee costs for the fiscal year 2020 amounting to approximately 96.7 million HKD[59] - The company has implemented environmental measures and encourages employees to focus on environmental protection[200] - The company did not make any charitable donations in the fiscal year 2020, consistent with 2019[197]