Financial Performance - The group recorded revenue of approximately HKD 317.76 million for the year ended December 31, 2024, representing an increase of about 17.57% compared to HKD 270.28 million in 2023[3]. - The loss attributable to shareholders for the year was approximately HKD 6.37 million, a decrease from HKD 10.92 million in the previous year, primarily due to an increase in revenue and rental income from investment properties[3]. - The basic loss per share for the year was (1.18) HKD cents, improved from (2.26) HKD cents in 2023[6]. - Total comprehensive loss for the year amounted to HKD 8.48 million, compared to HKD 11.13 million in the previous year[6]. - The group's net asset value was HKD 286.85 million, down from HKD 294.84 million in 2023[9]. - The company reported a pre-tax loss of HKD 5,685,000 for 2024, an improvement from a loss of HKD 8,311,000 in 2023[29]. - The company's loss before tax for the year 2024 was HKD 5,685,000, an improvement from a loss of HKD 8,311,000 in 2023, representing a reduction of approximately 31%[40]. - The income tax expense for 2024 was HKD 877,000, significantly lower than HKD 2,608,000 in 2023, indicating a decrease of about 66%[40]. - Basic loss per share for 2024 was HKD 11.80, compared to HKD 22.63 in 2023, reflecting a reduction of approximately 48%[41]. Revenue and Sales - Revenue from sales of battery products for the year 2024 amounted to HKD 317,760,000, an increase of 17.5% compared to HKD 270,279,000 in 2023[22]. - The total revenue from external customers for the year ended December 31, 2024, was HKD 317,760,000, an increase of 17.5% from HKD 270,279,000 in 2023[27]. - Revenue from disposable batteries was HKD 313,460,000 in 2024, up from HKD 266,703,000 in 2023, reflecting a growth of 17.5%[22]. - Revenue from alkaline cylindrical batteries increased to HKD 180,523,000 in 2024, a rise of 24.3% compared to HKD 145,178,000 in 2023[27]. - Revenue from rechargeable batteries and related products was HKD 4,300,000 in 2024, compared to HKD 3,576,000 in 2023, reflecting a growth of 20.2%[27]. - Revenue from micro button batteries rose by about 9.37% to approximately HKD 93.75 million, compared to approximately HKD 85.72 million last year[66]. - Revenue from cylindrical batteries increased by approximately 21.39%, rising from about HKD 180.99 million to approximately HKD 219.71 million, driven by increased demand in China, the Americas, and Europe[65]. - Revenue from the Chinese market surged to HKD 98,182,000 in 2024, a significant increase of 44.1% from HKD 68,175,000 in 2023[34]. Assets and Liabilities - Non-current assets totaled HKD 490.80 million as of December 31, 2024, compared to HKD 481.19 million in 2023[8]. - Current assets increased to HKD 165.26 million from HKD 151.36 million in the previous year[8]. - Trade receivables increased to HKD 43,175,000 in 2024 from HKD 36,102,000 in 2023, marking an increase of about 19%[45]. - Inventory levels rose slightly to HKD 51,764,000 in 2024 from HKD 49,962,000 in 2023, an increase of approximately 4%[44]. - The company reported a total of HKD 202,357,000 in bank and other borrowings for 2024, a slight decrease from HKD 204,577,000 in 2023[52]. - The company has a total of HKD 129,994,000 in trade payables for 2024, an increase from HKD 96,219,000 in 2023, representing an increase of approximately 35%[50]. - The company has a total of HKD 52,231,000 in deposits, prepayments, and other receivables for 2024, up from HKD 43,182,000 in 2023, indicating an increase of about 21%[48]. Operational Strategy - The group continues to focus on manufacturing and selling various batteries for electronic devices in Hong Kong, China, and international markets[12]. - The company plans to enhance marketing efforts and collaborate with various clients for product development in the healthcare and medical facilities battery market, anticipating positive revenue prospects[61]. - The company aims to improve production efficiency and cost control through investments in production facilities and automation strategies[59]. - The company will continue to invest in production facilities and upgrade production lines to enhance capacity and efficiency by 2025[109]. - The company aims to develop new production lines focused on healthcare and medical facility-related battery products[109]. - The company will explore other energy business opportunities and potential investment opportunities to diversify revenue sources and create long-term sustainable value for shareholders[63]. Financial Management - The board has resolved not to declare any dividend for the year, consistent with the previous year[3]. - The company did not declare or pay any dividends for the years ending 2024 and 2023[42]. - The company incurred financing costs of HKD 12,023,000 in 2024, slightly down from HKD 12,956,000 in 2023[36]. - The debt-to-equity ratio increased to 0.80 from 0.79 in the previous year[86]. - The company capitalized interest expenses at rates of 5.54% and 5.60% for the years ended 2024 and 2023, respectively[36]. Investment and Growth - The group is exploring investment opportunities to benefit its operations, with a focus on expanding its fixed asset base despite a slowdown in the Hong Kong property market[94]. - The group has committed capital expenditures of approximately HKD 5.85 million for a new automated production line and auxiliary machinery for the production of disposable button batteries used in hearing aids[90]. - The group is actively negotiating with banks to ensure the renewal of loans maturing before December 31, 2025, to maintain sufficient funds for operational and financial requirements[19]. - The group has obtained a new revolving loan financing of approximately HKD 47,754,000, which will mature on December 31, 2034[19]. Compliance and Governance - The audit committee reviewed the audited consolidated financial statements, confirming compliance with applicable accounting standards and listing rules[111]. - The group has complied with all relevant laws and regulations in Hong Kong and China during the year[104]. - The company emphasizes environmental, social, and governance (ESG) aspects in its production processes to achieve higher levels of sustainability[109]. Employee and Management - The employee cost for the year is approximately HKD 42.49 million, reflecting an increase of about 0.53% compared to HKD 42.27 million in the previous year[100]. - The total remuneration for directors during the year is approximately HKD 14.39 million, up from HKD 10.61 million in the previous year[100]. - The group has 409 employees as of December 31, 2024, down from 421 employees in the previous year[100]. - The company expresses gratitude to its management, employees, shareholders, and business associates for their support during the year[119].

Financial Performance - For the six months ended June 30, 2024, the group recorded unaudited revenue of approximately HKD 157.55 million, representing a growth of about 27.24% compared to HKD 123.82 million for the same period in 2023[5]. - The loss attributable to equity holders for the six months ended June 30, 2024, was approximately HKD 2.87 million, a significant improvement from a loss of HKD 10.28 million for the same period in 2023[5]. - Gross profit increased to HKD 38.86 million, with a gross profit margin rising to approximately 24.67%, up 0.63 percentage points from 24.04% in the previous year, primarily due to lower production costs[5]. - Basic loss per share for the six months ended June 30, 2024, was (0.53) HKD cents, compared to (2.41) HKD cents for the same period in 2023[6]. - Total revenue for the six months ended June 30, 2024, was HKD 157,548,000, representing a 27.2% increase from HKD 123,822,000 in the same period of 2023[18]. - The loss attributable to equity holders for the six months ended June 30, 2024, was HKD 2,865,000, compared to a loss of HKD 10,275,000 in the same period of 2023[23]. - The company reported a gross profit of HKD 38,861,000 for the six months ended June 30, 2024, up from HKD 29,761,000 in the previous year, indicating a significant improvement in operational efficiency[18]. - The increase in gross profit was attributed to improved production efficiency from higher automation levels and a decrease in material costs due to the depreciation of the Renminbi[32]. Cash Flow and Assets - Cash generated from operating activities for the six months ended June 30, 2024, was HKD 21.76 million, a turnaround from cash used of HKD 7.03 million in the same period of 2023[10]. - Total assets less current liabilities as of June 30, 2024, amounted to HKD 322.00 million, slightly down from HKD 324.21 million as of December 31, 2023[9]. - The group's net asset value as of June 30, 2024, was HKD 290.74 million, compared to HKD 294.84 million as of December 31, 2023[9]. - The group reported a net cash and cash equivalents balance of HKD 23.37 million as of June 30, 2024, down from HKD 37.36 million at the end of the previous year[10]. - As of June 30, 2024, the company's net current liabilities were HKD 153.17 million[14]. - The company's total bank and other borrowings as of June 30, 2024, amounted to approximately HKD 191.50 million, a decrease from HKD 204.58 million as of December 31, 2023[38]. - The debt ratio as of June 30, 2024, was approximately 0.54, slightly up from 0.53 as of December 31, 2023[39]. - The total equity of the company was approximately HKD 290.74 million as of June 30, 2024, down from HKD 294.84 million as of December 31, 2023[40]. - The asset-liability ratio was approximately 0.76 as of June 30, 2024, compared to 0.79 as of December 31, 2023[41]. Market and Sales Performance - The increase in sales was attributed to a rebound in demand, supported by higher automation levels in new production lines and a decrease in material costs[5]. - Revenue from the Chinese market reached HKD 44,471,000, a 30.3% increase from HKD 34,183,000 in the previous year[19]. - Sales revenue from cylindrical batteries increased by approximately HKD 26.71 million, or about 33.73%, driven by higher sales in China, Hong Kong, Europe, and the Americas[31]. - Sales revenue from button cells and rechargeable batteries increased by approximately HKD 7.02 million, or about 15.72%, primarily due to increased sales in Hong Kong and the Americas[31]. Corporate Governance and Compliance - The company has adopted the corporate governance code and is committed to high standards of governance and transparency[62]. - The audit committee consists of three independent non-executive directors, ensuring compliance with the listing rules[65]. - The audit committee members possess appropriate knowledge and financial experience to fulfill their responsibilities[66]. - The audit committee's composition complies with the listing rules, specifically Article 3.21[66]. - The committee's main responsibilities include ensuring adequate and effective accounting and financial controls[66]. - The financial results have not yet been audited by the company's auditors but have been reviewed by the audit committee[66]. - The audit committee believes that the financial results are prepared in accordance with applicable accounting standards and legal requirements[66]. - Sufficient disclosures have been made regarding the financial performance[66]. Employee and Operational Metrics - The total employee cost for the group was approximately HKD 20.87 million, down from HKD 22.35 million for the six months ended June 30, 2023[48]. - The group had a total of 407 employees as of June 30, 2024, a decrease from 438 employees as of June 30, 2023[48]. - The company acquired property, plant, and equipment worth approximately HKD 6.58 million during the first half of 2024, compared to HKD 1.60 million in the same period of 2023, aimed at expanding capacity and improving production efficiency[25]. - The company's selling expenses increased by 26.81% to approximately HKD 9.56 million, consistent with revenue growth, mainly due to increased travel and other expenses[36]. Shareholding and Ownership - As of June 30, 2024, the chairman and CEO, Zhu Jingdian, holds 273,100,000 shares, representing 50.57% of the total shares[52]. - Executive Director and CEO, Zhu Shuqing, holds 32,000,000 shares, which is 5.93% of the total shares[52]. - Zhu Shuqing also has beneficial ownership of an additional 4,500,000 shares, accounting for 0.83%[52]. - Golden Villa Ltd., wholly owned by Zhu Jingdian, holds 273,100,000 shares, equivalent to 50.57%[57]. - Triumph Treasure Holdings Limited, wholly owned by Zhu Shuqing, holds 32,000,000 shares, which is 5.93%[57]. Other Relevant Information - The company did not declare an interim dividend for the six months ended June 30, 2024, consistent with the previous year[5]. - The company has not identified any significant uncertainties that would impact its ability to continue as a going concern[14]. - The company has not purchased, sold, or redeemed any of its listed securities during the reporting period[59]. - No significant events occurred after the reporting period up to the date of this report[58]. - The report is dated August 16, 2024, indicating a mid-year review for the fiscal year 2024[66].

Financial Performance - Revenue for the fiscal year ended December 31, 2023, decreased by approximately 18.16% to about HKD 270.28 million from approximately HKD 330.25 million in the previous year[11]. - The loss attributable to shareholders for the year was approximately HKD 10.92 million, compared to a loss of approximately HKD 22.79 million in the previous year, with a loss per share of HKD (2.26) compared to HKD (6.28) in the previous year[11]. - The company's revenue for the year was approximately HKD 270.28 million, a decrease of about 18.16% from the previous year's revenue of approximately HKD 330.25 million[24]. - Revenue from cylindrical batteries decreased by approximately HKD 44.58 million to about HKD 180.99 million, representing a decline of about 19.76%[22]. - Revenue from micro button batteries decreased by approximately HKD 13.75 million to about HKD 85.72 million, a decline of about 13.82%[23]. - The gross profit for the year was approximately HKD 70.75 million, slightly down by about 1.10% from HKD 71.54 million in the previous year[28]. - The company's financing costs increased by approximately 50.00% to about HKD 7.74 million, compared to HKD 5.16 million in the previous year[30]. - Cash and bank balances as of December 31, 2023, were approximately HKD 28.67 million, an increase of about HKD 7.16 million from HKD 21.51 million on December 31, 2022[33]. - The sales expenses decreased by approximately 8.12% to about HKD 17.09 million from HKD 18.60 million in the previous year[29]. - The gross margin increased from approximately 21.66% in the previous year to about 26.18% in the current year, an increase of approximately 4.52 percentage points due to effective cost control measures, reduced labor costs, increased production automation, and depreciation of the RMB leading to lower raw material and packaging costs[41]. - Net loss decreased by approximately 2.86 percentage points to about (4.04)% from (6.90)% in the previous year, primarily due to reduced foreign exchange losses and increased rental income from investment properties[43]. - The debt-to-equity ratio decreased by 0.07 times to 0.79 from 0.86 in the previous year, mainly due to an increase in total equity from a rights issue[44]. - As of December 31, 2023, the total equity of the group was approximately HKD 294.84 million, compared to approximately HKD 287.37 million in the previous year[46]. Operational Developments - The company experienced pressure on gross margins due to foreign exchange fluctuations, high interest rates, and commodity price volatility, but effective cost control and increased production automation improved gross margins compared to the previous year[12]. - A new automated production line for cylindrical batteries was commercialized at the end of 2023, aimed at improving production efficiency and product quality[17]. - The company plans to continue investing in production facilities and upgrading production lines to enhance capacity and efficiency in 2024[67]. - The company has established a list of approved suppliers and subcontractors to maintain product quality and flexibility in sourcing raw materials[66]. - The company is focused on quality control and production management at its Jiangmen facility, which is crucial for maintaining product standards[85]. Strategic Initiatives - The company plans to enhance marketing efforts in China to capitalize on economic recovery opportunities, with a positive outlook for revenue in the Chinese market[16]. - The company will continue to streamline operations in China to maintain competitiveness and implement restructuring of subsidiaries for cost control[16]. - The board will explore other business opportunities and potential investment opportunities to diversify revenue sources and enhance long-term sustainable value for shareholders[17]. - The company aims to reduce carbon emissions and energy consumption as part of its commitment to environmental, social, and governance (ESG) initiatives[17]. - The company anticipates steady growth in demand for disposable batteries from OEM customers as overall market demand increases[16]. Governance and Management - The company has maintained good relationships with employees, customers, and suppliers, with many key customers retained for over five years[66]. - The company has established a strong governance framework with independent directors providing oversight and strategic guidance[80]. - The management team includes experienced professionals with backgrounds in finance, marketing, and human resources, contributing to strategic decision-making[88][89]. - The board consists of seven directors, including four executive directors and three independent non-executive directors, ensuring a diverse governance structure[103]. - The independent non-executive directors account for at least one-third of the board, complying with regulatory requirements to protect shareholder interests[104]. - The company has adopted corporate governance principles to enhance accountability to shareholders[92]. - The board has complied with all applicable corporate governance code provisions during the year[93]. - The company has established a compliance framework to ensure adherence to legal and regulatory requirements[90]. Environmental, Social, and Governance (ESG) Commitments - The company aims to enhance its environmental, social, and governance (ESG) measures to reduce carbon emissions and energy consumption[67]. - The company emphasizes environmental sustainability, offering eco-friendly products that do not contain harmful substances like mercury, cadmium, and lead[172]. - The company is focused on transitioning to a low-carbon economy through various sustainability initiatives[172]. - The ESG report covers the period from January 1, 2023, to December 31, 2023, highlighting the company's environmental, social, and governance performance[176]. - The company actively engages with stakeholders through various communication channels to gather feedback and improve its ESG performance[181]. - The group has invested in new machinery to produce packaging using recycled materials, responding to EU regulations requiring the elimination of lead in primary batteries by February 2024[199]. - The group has received the Nordic Swan certification, recognizing its commitment to environmental management and low-carbon production practices[199]. Shareholder Engagement - The company has adopted a shareholder communication policy to enhance engagement with shareholders during annual general meetings[163]. - The company encourages shareholders to provide updated contact information for effective communication[169]. - The website serves as a communication platform for shareholders, providing access to corporate information and governance details[169]. - The company encourages ongoing dialogue with shareholders, particularly through annual general meetings[154]. - The next annual general meeting is scheduled for May 23, 2024, indicating ongoing shareholder engagement[108].

Financial Performance - The group recorded revenue of approximately HKD 270.28 million for the year ended December 31, 2023, a decrease of about 18.16% compared to HKD 330.25 million in 2022[3]. - The loss attributable to shareholders for the year was approximately HKD 10.92 million, down from HKD 22.79 million in 2022, primarily due to a revenue decrease of approximately HKD 59.97 million[3]. - Basic loss per share for the year was HKD (2.26), compared to HKD (6.28) in the previous year[4]. - Revenue from disposable batteries decreased from HKD 325,043,000 in 2022 to HKD 266,703,000 in 2023, representing a decline of approximately 17.9%[25]. - Revenue from rechargeable batteries and other related products decreased from HKD 5,204,000 in 2022 to HKD 3,576,000 in 2023, a decline of approximately 31.2%[29]. - The company reported a pre-tax loss of HKD 8,311,000 for 2023, compared to a loss of HKD 27,715,000 in 2022, indicating an improvement in financial performance[33]. - Revenue from the China market decreased from HKD 85,940,000 in 2022 to HKD 68,175,000 in 2023, a decline of approximately 20.6%[37]. - The company reported a loss per share of HKD (2.26), an improvement from HKD (6.28) per share in the previous year[61]. - The company’s revenue decreased by approximately 18.16% from about HKD 330.25 million to about HKD 270.28 million in the current year[61]. - The company recorded a loss attributable to shareholders of approximately HKD 10.92 million, an improvement from a loss of HKD 22.79 million in the previous year[79]. - Gross profit for the year was approximately HKD 70.75 million, a slight decrease of about 1.10% compared to HKD 71.54 million in the previous year[75]. Assets and Liabilities - Total assets less current liabilities amounted to HKD 324.21 million, an increase from HKD 319.35 million in 2022[8]. - The group's cash and bank balances increased to HKD 28.67 million from HKD 21.51 million in the previous year[7]. - The group's net asset value rose to HKD 294.84 million from HKD 287.37 million in 2022[8]. - The group reported a decrease in trade receivables to HKD 37.52 million from HKD 47.97 million in the previous year[7]. - Trade payables increased from HKD 84.58 million in 2022 to HKD 96.22 million in 2023, reflecting a rise of approximately 13.8%[52]. - The total bank borrowings decreased from HKD 213.94 million in 2022 to HKD 204.58 million in 2023, a reduction of about 4.5%[56]. - As of December 31, 2023, the group has approximately HKD 26,829,000 in undrawn bank financing[23]. - The group successfully renewed bank loans totaling approximately HKD 52,066,000 that were due on or before the reporting date[23]. - The group has no significant contingent liabilities as of December 31, 2023, compared to none in 2022[93]. Financial Management and Strategy - The group has assessed the accounting policy change regarding the offset mechanism for long service payments, which will officially take effect on May 1, 2025, and determined that it does not have a significant impact on the group[15][19]. - The group has evaluated its ability to continue as a going concern and believes it can meet its financial obligations based on projected cash flows without significant uncertainties[22]. - The board has prepared the consolidated financial statements on a going concern basis, considering the group's future cash flow estimates[22]. - The group plans to actively negotiate with banks to ensure the renewal of loans due before December 31, 2024, to maintain sufficient working capital[23]. - The group will periodically review its investment property portfolio and may adjust its investment strategy to strengthen cash flow as necessary[23]. - The company plans to continue investing in production facilities and upgrading production lines in 2024 to enhance capacity and efficiency[116]. - The company raised approximately HKD 19.80 million through a rights issue, with net proceeds of about HKD 18.60 million after expenses, aimed at repaying bank loans and general working capital[117]. Cost Management - The group experienced a reduction in financing costs to HKD 7.74 million from HKD 5.16 million in the previous year[4]. - Total interest expenses increased to HKD 12,956,000 in 2023 from HKD 8,892,000 in 2022, reflecting a rise of about 46%[1]. - Employee costs (excluding directors' remuneration) decreased to HKD 31,659,000 in 2023 from HKD 36,253,000 in 2022, a reduction of approximately 13%[1]. - Inventory write-downs decreased to HKD 1,962,000 in 2023 from HKD 2,385,000 in 2022, showing a reduction of approximately 18%[46]. - Employee costs, including director salaries, amounted to approximately HKD 42.27 million in 2023, down about 9.27% from HKD 46.59 million in 2022[106]. Sustainability and ESG Efforts - The company has implemented a paperless mechanism to maintain sustainable development and reduce costs[62]. - The company plans to continue reducing carbon emissions and energy consumption in its operations[62]. - The company is committed to reducing carbon emissions and energy consumption as part of its sustainability efforts[67]. - The company continues to focus on environmental, social, and governance (ESG) aspects to enhance sustainable development and reduce carbon emissions[116]. Corporate Governance - The audit committee reviewed the audited consolidated financial statements, confirming compliance with applicable accounting standards and listing rules[122]. - The annual general meeting is scheduled for May 23, 2024, to discuss various corporate matters[123]. - The company’s annual performance announcement is available on its website and the Hong Kong Stock Exchange website, with the annual report expected to be published by April 2024[128].

Financial Performance - For the six months ended June 30, 2023, the group recorded unaudited revenue of approximately HKD 123.82 million, a decrease of about 24.55% compared to HKD 164.10 million for the same period in 2022[4] - The loss attributable to equity holders for the six months ended June 30, 2023, was approximately HKD 10.28 million, compared to a loss of HKD 6.55 million for the same period in 2022[4] - Gross profit decreased to HKD 29.76 million, with a gross margin increase from approximately 22.22% in the prior period to about 24.04% in the current period due to lower production costs[4] - Basic loss per share for the six months ended June 30, 2023, was (2.41) HKD cents, compared to (1.80) HKD cents for the same period in 2022[10] - The company reported a loss before tax of HKD 12,009,000 for the first half of 2023, compared to a loss of HKD 7,674,000 in the same period of 2022, representing a 56.5% increase in losses[30] - The company reported a total loss of HKD 10,275,000 for the first half of 2023, compared to a loss of HKD 6,554,000 in the same period of 2022, marking a 56.5% increase in losses[37] - Gross profit for the period was approximately HKD 29.76 million, down about 18.40% from HKD 36.47 million in the previous year, with a gross margin increase from 22.22% to 24.04%[52] Cash Flow and Financing - Cash and cash equivalents increased to HKD 37.36 million as of June 30, 2023, compared to HKD 21.51 million at the beginning of the period[14] - Operating activities used net cash of HKD 7.03 million for the six months ended June 30, 2023, compared to a net cash inflow of HKD 1.65 million for the same period in 2022[14] - Financing activities generated net cash of HKD 22.22 million for the six months ended June 30, 2023, compared to a net cash outflow of HKD 13.59 million in the prior period[14] - The company has issued new shares amounting to HKD 18.598 million during the reporting period, increasing the share capital from HKD 3.6 million to HKD 5.4 million[16] - The company announced a rights issue on March 16, 2023, offering 180,000,000 shares at a subscription price of HKD 0.11 per share, raising approximately HKD 19.8 million before expenses[73] - The rights issue was oversubscribed by 10,951,495 shares, representing an oversubscription of about 6.1%[73] - After the completion of the rights issue on April 27, 2023, the total issued share capital increased to 540,000,000 shares, with the rights shares accounting for approximately 33.3% of the enlarged issued share capital[73] - The net proceeds from the rights issue, after deducting related expenses and underwriting commissions, amounted to approximately HKD 18.6 million[76] - Of the net proceeds, HKD 16.7 million is allocated for repaying bank loans, with HKD 3.0 million already utilized by June 30, 2023[76] - The remaining HKD 1.9 million of the net proceeds is designated for general working capital, fully utilized by June 30, 2023[76] Assets and Liabilities - Total assets less current liabilities amounted to HKD 330.10 million as of June 30, 2023, compared to HKD 319.35 million at the end of 2022[12] - The group’s net asset value increased to HKD 294.76 million as of June 30, 2023, from HKD 287.37 million at the end of 2022[12] - As of June 30, 2023, the total equity of the company is HKD 294.755 million, a decrease from HKD 306.261 million as of June 30, 2022, reflecting a decline of approximately 3.9%[16] - The net current liabilities of the company as of June 30, 2023, stand at HKD 134.92 million, with unutilized bank financing amounting to HKD 23.93 million[23] - The company’s retained earnings decreased from HKD 98.609 million as of June 30, 2022, to HKD 65.540 million as of June 30, 2023, a decline of approximately 33.5%[16] - The company’s total borrowings as of June 30, 2023, were approximately HKD 225.76 million, an increase from HKD 213.94 million as of December 31, 2022[57] - Trade payables as of June 30, 2023, totaled HKD 89.33 million, an increase from HKD 84.58 million as of December 31, 2022[12] Market and Operational Insights - The company is focusing on developing non-toxic batteries under its "Source. Nature" series, in response to global trends towards environmentally friendly products[19] - The company plans to expand into Asian markets including Japan, Vietnam, Malaysia, Singapore, and South Korea, while maintaining strict cost control measures[49] - The company experienced a decrease in sales due to the impact of the COVID-19 pandemic, ongoing military conflict, and import tariffs affecting customer purchasing power[49] - The company’s management will closely monitor developments and take appropriate actions in response to market conditions[49] - Revenue from the Chinese market decreased to HKD 34,183,000 in 2023 from HKD 51,069,000 in 2022, a decline of 33.1%[29] - Revenue from the Asia region (excluding China and Hong Kong) was HKD 23,844,000, down 25.5% from HKD 31,954,000 in the previous year[29] Governance and Compliance - The company has adopted the corporate governance code as per the listing rules, ensuring high standards of governance and transparency[91] - The audit committee, consisting of independent non-executive directors, is responsible for overseeing the financial reporting process and ensuring compliance with applicable accounting standards[95] - The audit committee reviewed the financial results, which were prepared in accordance with applicable accounting standards and legal requirements, although they have not yet been audited[95] - The company confirmed that all directors complied with the standards of conduct regarding securities transactions during the reporting period[90] - There were no significant contracts during the period where directors had a material interest that could impact the group's business[92] - The group did not have any significant contingent liabilities as of June 30, 2023, consistent with the previous year[62] Risks and Challenges - The group faced several risks, including potential impacts from inflation due to the Russia-Ukraine conflict and public health events affecting operations[69] - The group has not entered into any foreign currency hedging transactions during the period[72]

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，並明確表示概不就因本公告全部或任何部分內容而 產生或因依賴該等內容而引致的任何損失承擔任何責任。 GOLDEN POWER GROUP HOLDINGS LIMITED 金 力 集 團 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：3919） 截至二零二三年六月三十日止六個月的 中期業績公告 財務摘要 • 截至二零二三年六月三十日止六個月，本集團錄得未經審核收益約123.82百萬港 元（截至二零二二年六月三十日止六個月：約164.10百萬港元），較二零二二年同 期減少約24.55%。 • 截至二零二三年六月三十日止六個月，本公司權益持有人應佔未經審核虧損約10.28 百萬港元，而截至二零二二年六月三十日止六個月則為本公司權益持有人應佔未 經審核虧損約6.55百萬港元。本期間虧損是由於人民幣（「人民幣」）兌港元貶值， 導致本集團於本期間錄得匯兌虧損，因為本集團的呈報貨幣為港元，而本集團有 一大部分資產以人民幣計值。 • 本期間毛利減少主要是由於銷售額下降所致。儘管毛利金額減少，但 ...

Financial Performance - Revenue for the fiscal year ended December 31, 2022, decreased by approximately 4.89% to about HKD 330.25 million from approximately HKD 347.22 million in the previous year[10] - The company reported a loss attributable to shareholders of approximately HKD 22.79 million, compared to a profit of approximately HKD 4.71 million in the previous year, resulting in a loss per share of HKD (6.33) compared to earnings per share of HKD 1.51 in the previous year[10] - The gross profit for the year was approximately HKD 71.54 million, down about 2.65% from HKD 73.49 million in the previous year[26] - Revenue from cylindrical batteries decreased by approximately HKD 16.71 million to about HKD 225.57 million, representing a decline of about 6.90% due to reduced demand in Europe, China, and Hong Kong[20] - Revenue from micro button batteries increased by approximately HKD 1.29 million to about HKD 99.47 million, reflecting a growth of about 1.32%[21] - Revenue from rechargeable batteries and other related products decreased by approximately HKD 1.55 million to about HKD 5.20 million, a decline of about 22.97%[21] - The company's financing costs increased by approximately 30.53% to about HKD 5.16 million due to rising interest rates[28] - The gross profit margin was maintained at a level comparable to the previous year despite pressures from foreign exchange fluctuations, rising interest rates, and increased labor costs in China[11] Strategic Initiatives - The company plans to enhance financial performance by tightening cost control, upgrading production automation, and improving production efficiency in 2023[12] - The company aims to expand its disposable battery production efficiency, anticipating steady growth in demand from OEM customers as overall market demand for disposable batteries increases[15] - The company will continue to simplify its operational structure in China to maintain competitiveness and implement restructuring of subsidiaries for cost control[15] - The board plans to enhance production capacity and efficiency while exploring new business opportunities to diversify revenue sources[16] - A new automated production line for cylindrical batteries is expected to begin trial operations in the first half of 2023, with commercial production anticipated by the end of 2023[16] Market Challenges - The ongoing military conflict between Russia and Ukraine poses potential threats to the company's revenue in the European and American markets due to inflation and rising interest rates[12] - The company expects commodity prices and logistics costs to gradually decline in 2023, with a downward trend already evident by the end of 2022[12] Governance and Management - The company has a strong leadership team with extensive experience in the disposable battery industry, with the chairman having over 47 years and the CEO over 35 years of experience[71][72] - The company has a comprehensive management structure with executives responsible for various operational aspects, including production facilities in Dongguan and Jiangmen[73][82] - The board consists of seven directors, including four executive directors and three independent non-executive directors, ensuring a diverse governance structure[101] - The independent non-executive directors represent at least one-third of the board, complying with listing rules, which enhances shareholder protection[102] - The company has implemented mechanisms to ensure strong independence within the board, including the appointment of at least three independent non-executive directors[114] Environmental, Social, and Governance (ESG) Commitments - The company is committed to environmental, social, and governance (ESG) initiatives, with a dedicated committee overseeing these efforts[73] - The company emphasizes the production of eco-friendly batteries, specifically the "Source. Nature" series, which are free from harmful substances such as mercury, cadmium, and lead[168] - The company has established an Environmental, Social, and Governance (ESG) committee to monitor sustainability-related matters during the reporting period[175] - The ESG Committee is tasked with reviewing and recommending the company's ESG strategies, initiatives, and policies to the board, ensuring alignment with operational and regulatory risks[136] - The company received the Nordic Swan certification from the Swedish Environmental Marking Organization, recognizing its commitment to environmental management[199] Employee Relations and Diversity - Employee costs for the year amounted to approximately HKD 46.59 million, a decrease of about 12.67% from HKD 53.35 million in the previous year, with a total of 475 employees as of December 31, 2022[55] - The company maintains good relationships with employees, customers, and suppliers, and has successfully retained a number of customers for over five years, including major clients[63] - The board includes one female member, achieving gender diversity as per the company's policy[97] - The company has implemented a diversity policy for its board members, ensuring a balance of skills, experience, and perspectives[94] Risk Management - The board is responsible for overseeing the group's risk management and internal control systems, which are reviewed annually for effectiveness[149] - The group has adopted a risk management policy aimed at ensuring sustainable growth and addressing business-related risks proactively[150] Shareholder Engagement - The company maintains a high level of transparency in investor relations, providing timely disclosures through annual reports and other announcements[159] - The company has adopted a shareholder communication policy to facilitate engagement between shareholders and management, including the ability to submit questions and suggestions[163] - Shareholders have the right to request a special general meeting if they hold at least 10% of the paid-up capital, and such a meeting must be held within two months of the request[154]

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，並明確表示概不就因本公告全部或任何部分內容而 產生或因依賴該等內容而引致的任何損失承擔任何責任。 GOLDEN POWER GROUP HOLDINGS LIMITED 金 力 集 團 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：3919） 截至二零二二年十二月三十一日止年度的 年度業績公告 財務摘要 • 本集團於本年度錄得收益約330.25百萬港元（二零二一年：約347.22百萬港元），較 上年度減少約4.89%。 • 本年度的本公司股東應佔虧損約為22.79百萬港元（二零二一年：股東應佔溢利約 4.71百萬港元），由盈轉虧，主要是受以下各項的綜合影響所致：(i)收益減少約 16.97百萬港元，導致毛利較上年度減少約1.95百萬港元；(ii)人民幣（「人民幣」）兌 港元貶值，導致本集團於二零二二年錄得匯兌虧損及對沖虧損；(iii)本集團持有的 投資物業權益產生公平值虧損；及(iv)本集團持有的投資物業產生的租金收入減少。 • 於本年度的每股基本虧損為(6.33)港仙（二零二 ...

Financial Performance - For the six months ended June 30, 2022, Golden Power Group Holdings Limited recorded unaudited revenue of approximately HKD 164.10 million, a decrease of about 7.64% compared to HKD 177.68 million for the same period in 2021[2] - The company reported an unaudited loss attributable to equity holders of approximately HKD 6.55 million for the six months ended June 30, 2022, compared to an unaudited profit of HKD 1.65 million for the same period in 2021[2] - The basic loss per share for the six months ended June 30, 2022, was (1.82) HKD cents, compared to a basic earnings per share of 0.62 HKD cents for the same period in 2021[3] - The total comprehensive loss attributable to equity holders for the period was HKD 8.82 million, compared to a total comprehensive income of HKD 2.93 million for the same period in 2021[6] - The company reported a loss before tax of HKD 7,674,000 for the first half of 2022, compared to a profit before tax of HKD 2,116,000 in the same period of 2021[25] - The net loss attributable to equity holders for the six months ended June 30, 2022, was HKD 6,554,000, compared to a profit of HKD 1,647,000 for the same period in 2021[32] Assets and Liabilities - As of June 30, 2022, the total assets less current liabilities amounted to HKD 344.72 million, a decrease from HKD 368.80 million as of December 31, 2021[8] - The cash and cash equivalents at the end of the period were HKD 20.29 million, down from HKD 36.63 million at the beginning of the period[10] - The net current liabilities as of June 30, 2022, were HKD 134.73 million, with unused bank financing of HKD 25.86 million available[20] - The total equity amounted to HKD 306.261 million, a decrease from HKD 315.084 million at the beginning of the year[12] - The company's debt as of June 30, 2022, was approximately HKD 218.41 million, a slight decrease from HKD 226.17 million as of December 31, 2021, with a debt ratio of approximately 0.56[51] - The group's debt-to-equity ratio was approximately 0.85 as of June 30, 2022, slightly down from 0.86 as of December 31, 2021[55] Inventory and Receivables - The group’s inventory increased to HKD 88.16 million as of June 30, 2022, compared to HKD 60.05 million as of December 31, 2021[8] - Trade receivables and bills receivable totaled HKD 58,977,000 as of June 30, 2022, compared to HKD 53,702,000 as of December 31, 2021[33] - Trade payables increased to HKD 120.39 million as of June 30, 2022, from HKD 78.58 million as of December 31, 2021, reflecting a significant rise in short-term liabilities[12] Revenue Breakdown - The company’s revenue from the Chinese market decreased to HKD 51,069,000 in 2022 from HKD 63,176,000 in 2021, representing a decline of 19.1%[24] - Revenue from cylindrical batteries decreased by approximately HKD 20.44 million, or 16.35%, primarily due to reduced sales in China and Hong Kong[40] - Revenue from micro button batteries and rechargeable batteries increased by approximately HKD 6.86 million, or 13.01%, attributed to sales growth in Australia, Europe, and North America[40] Operational Highlights - The company has developed a series of non-toxic batteries under the "Source. Nature" brand, aligning with global trends towards environmentally friendly products[15] - The company is focusing on expanding its production capacity and improving efficiency through the acquisition of new machinery and facilities[31] - The company plans to continue investing in new product categories, including hearing aid batteries, and to promote sales in the healthcare equipment market[43] Cash Flow and Financing - The net cash used in operating activities for the six months ended June 30, 2022, was HKD 1.65 million, compared to cash used of HKD 3.61 million in the same period of 2021[10] - The company raised approximately HKD 39.60 million through a rights issue, with a net amount of about HKD 35.50 million after expenses[70] - As of June 30, 2022, the company utilized HKD 20.0 million for repaying bank loans, HKD 11.9 million for upgrading equipment, and HKD 3.6 million for general working capital[70] Corporate Governance - The company has adopted the corporate governance code as per the listing rules, ensuring high standards of governance and transparency[87] - The audit committee, established on May 15, 2015, consists of three independent non-executive directors, ensuring compliance with listing rules[91] - The audit committee has reviewed the financial results, confirming adherence to applicable accounting standards and legal requirements[91] Shareholder Information - The chairman, Zhu Jingdian, holds 203,400,000 shares, representing 56.5% of the company's total shares[73] - Executive director Zhu Shuqing owns 43,600,000 shares, accounting for 12.11% of the total shares[73] - The company has no knowledge of any other individuals holding significant interests in its shares as of June 30, 2022[81] Risks and Challenges - The group faced various risks, including potential impacts from public health events and fluctuations in customer purchasing patterns, which could adversely affect its business and financial performance[64]

年 報 G olden P 2021 年 報 Golden Power Group Holdings Limited 金力集團控股有限公司 (於開曼群島註冊成立的有限公司) 股份代號 : 3919 ANNUAL REPORT 2021 o wer Group H oldi n gs Limited 金力集團控股有限 公 司 Golden Power Group Holdings Limited 金力集團控股有限公司 (Incorporated in the Cayman Islands with limited liability) Stock Code : 3919 2021 Annual Report 目錄 | 2 | 公司資料 | | --- | --- | | 3 | 主席報告 | | 5 | 管理層討論及分析 | | 12 | 董事及高級管理層履歷詳情 | | 16 | 企業管治報告 | | 29 | 環境、社會及管治報告 | | 54 | 董事會報告 | | 64 | 獨立核數師報告 | | 68 | 綜合損益表 | | 69 | 綜合全面收益表 | | 70 | 綜合財務狀況表 | | 72 | ...