Group 1 - The article reports on stock buybacks conducted by various companies on July 15, 2025, with a total of 20 companies participating in the buyback program [1] - The company with the largest buyback amount was Wan Ka Yi Lian (01762), repurchasing 7.14 million shares for a total of 5.06 million yuan [1][2] - Other notable buybacks include Mengniu Dairy (02319) with 300,000 shares for 4.97 million yuan and China International Marine Containers (02039) with 613,100 shares for 4.03 million yuan [2] Group 2 - The cumulative buyback figures for the year show Wan Ka Yi Lian (01762) has repurchased a total of 17.37 million shares, representing 0.981% of its total share capital [2] - Other companies with significant cumulative buyback percentages include Kangchen Pharmaceutical (01681) at 5.926% and China Aluminum Can (06898) at 3.900% [2] - The buyback activity reflects a strategic move by these companies to enhance shareholder value and signal confidence in their financial health [1][2]

Financial Performance - The group's total revenue for the reporting period was approximately HKD 227.8 million, a slight decrease of about 3.3% compared to HKD 235.5 million in the previous year[8]. - The profit for the year was approximately HKD 18.7 million, representing a decrease of about 14.5% from HKD 21.9 million in the previous year[8]. - Revenue from the Chinese market was approximately HKD 201.9 million, down from HKD 210.8 million in the previous year[17]. - The sales cost for the reporting period was approximately HKD 166.3 million, accounting for about 73.0% of the total revenue, an increase of approximately 2.6% from 70.4% in the previous year[18]. - Other income and gains for the reporting period amounted to approximately HKD 11.1 million, an increase of about 10.1% compared to HKD 10.1 million in 2023, primarily due to increased waste sales and investment income[19]. - Net profit for the reporting period was approximately HKD 18.7 million, a decrease of about 14.5% from HKD 21.9 million in 2023, with a net profit margin of approximately 8.2% compared to 9.3% in 2023[22]. - Current assets as of December 31, 2024, were approximately HKD 109.4 million, down from HKD 124.2 million in 2023, with cash and cash equivalents at HKD 30.6 million compared to HKD 39.5 million in 2023[24]. - The company anticipates a slight decline in revenue for 2024 due to weak domestic demand and low consumer confidence in China[10]. Operational Efficiency - The company will continue to optimize production efficiency and reduce costs through improved production processes[11]. - Sales and distribution expenses decreased to approximately HKD 4.4 million, down about 10.7% from HKD 4.9 million in 2023, attributed to strict cost control measures[20]. - Employee costs for the reporting period were approximately HKD 34.3 million, up from HKD 32.9 million in 2023, with a total of 269 employees[34]. - The company had no major investments during the reporting period, consistent with the previous year[36]. Corporate Governance - The company has adopted and complied with the corporate governance code, except for the separation of the roles of Chairman and CEO, which are held by the same individual[43]. - The board consists of two executive directors and three independent non-executive directors, ensuring high independence and effective decision-making[52]. - The company has adopted a formal and transparent "Director Nomination Procedure" for evaluating and selecting board candidates, with all directors required to retire at least once every three years[55]. - The board has implemented a diversity policy, aiming for at least 20% female representation among directors in the coming years, with current gender ratio being 4 male to 1 female[58]. - The company has achieved gender diversity among employees, with a current ratio of 168 males to 101 females, recognizing the importance of diverse perspectives for competitive advantage[59]. - The company has received written confirmations of independence from all non-executive directors, affirming their independent status[60]. - The board of directors held a total of 4 meetings during the reporting period, with all members present at each meeting[66]. Risk Management - The company maintains a robust risk management and internal control system to achieve business goals and sustainable growth[109]. - The risk management committee assists the board in reviewing and monitoring significant risks[109]. - The company actively monitors operational risks related to safety and environmental standards in production[120]. - Legal risks are mitigated through contract review and regular compliance audits[121]. - The board has established an internal audit department to continuously monitor the group's risk management and internal control systems, which were reviewed for effectiveness for the year ending December 31, 2024[122]. Environmental, Social, and Governance (ESG) - The group has committed to evaluating its business impact on key environmental, social, and governance (ESG) issues and will include this in its reports[128]. - The report adheres to the guidelines set forth by the Hong Kong Stock Exchange regarding ESG reporting, ensuring compliance with the "comply or explain" principle[129]. - The company is committed to environmental protection, adhering to local environmental laws and regulations, including the Environmental Protection Law of the People's Republic of China[144]. - The company achieved a reduction in pollutant emissions and received tax incentives for meeting local emission standards during the reporting period[145]. - The company has implemented energy-saving measures to address climate change and reduce greenhouse gas emissions[146]. Employee Engagement and Development - The company emphasizes the importance of recruiting, retaining, and developing skilled employees to maintain competitiveness in the industry[162]. - Employee compensation includes competitive salaries and benefits, with performance assessments and salary adjustments in place to enhance motivation[162]. - A total of 267 employees participated in various training programs, accumulating 64,696 hours of training during the reporting period[173]. - The company strictly adheres to labor laws in China, prohibiting child labor and forced labor, ensuring compliance with human rights standards[174]. Product Quality and Safety - The company has established strict quality control measures, including random sampling tests for finished products, ensuring compliance with national standards such as GB/T25164-2010[180]. - The company emphasizes the importance of product safety and pressure resistance, conducting rigorous testing that exceeds national standards[186]. - The company has a structured product return and recall arrangement, ensuring effective communication with customers and thorough analysis of returned products[188]. - No quality issues or legal non-compliance related to product responsibility were reported between the company and its customers during the reporting period[189].

Financial Performance - For the fiscal year ending December 31, 2024, the total revenue was HKD 227,796,000, a decrease of 3.0% from HKD 235,507,000 in 2023[4] - Gross profit for the year was HKD 61,470,000, down 11.7% from HKD 69,598,000 in the previous year[4] - The net profit for the year was HKD 18,717,000, representing a decline of 14.4% compared to HKD 21,890,000 in 2023[4] - Basic earnings per share decreased to HKD 0.019 from HKD 0.024, a reduction of 20.8% year-over-year[6] - The total comprehensive income for the year was HKD 13,819,000, an increase of 16.6% from HKD 11,838,000 in 2023[6] - The group reported a pre-tax profit of HKD 24,182,000 for 2024, down from HKD 29,787,000 in 2023, indicating a decline of 18.7%[35] - Net profit for the reporting period was approximately HKD 18.7 million, a decrease of about 14.5% from HKD 21.9 million in the previous year, with a net profit margin of approximately 8.2%[65] Revenue Breakdown - Revenue from the Americas decreased to HKD 12,680,000 in 2024 from HKD 15,014,000 in 2023, representing a decline of 15.5%[21] - Revenue from the Asia region increased significantly to HKD 11,849,000 in 2024, up from HKD 7,538,000 in 2023, marking a growth of 57.5%[21] - Revenue from mainland China was HKD 201,905,000 in 2024, slightly down from HKD 210,799,000 in 2023, a decrease of 4.2%[21] - The total revenue for the reporting period was approximately HKD 227.8 million, a decrease of about 3.3% compared to HKD 235.5 million in the previous year[59] - Revenue from the Chinese market was approximately HKD 201.9 million, down from HKD 210.8 million in the previous year, primarily due to low consumer confidence and weak domestic demand[59] Assets and Liabilities - Total assets decreased to HKD 262,673,000 from HKD 323,924,000, a decline of 18.9%[9] - Non-current assets dropped significantly from HKD 218,886,000 in 2023 to HKD 173,580,000 in 2024, a decrease of 20.7%[8] - Non-current assets totaled HKD 170,509,000 in 2024, down from HKD 216,289,000 in 2023, reflecting a decrease of 21.1%[22] - Trade receivables decreased to HKD 26,439,000 in 2024 from HKD 29,517,000 in 2023, a decrease of 10.5%[38] - The net book value of property, plant, and equipment as of December 31, 2024, was HKD 160,222,000, down from HKD 182,141,000 in 2023[49] Expenses and Costs - The cost of sales was approximately HKD 166.3 million, accounting for about 73.0% of total revenue, an increase of approximately 2.6% from 70.4% in the previous year[60] - Selling and distribution expenses decreased by approximately 10.7% to HKD 4.4 million, down from HKD 4.9 million in the previous year due to strict cost control measures[62] - The total tax expense for the year was HKD 5,465,000, a decrease from HKD 7,897,000 in 2023, which is a reduction of 30.8%[33] - Employee costs for the reporting period were approximately HKD 34.3 million, up from HKD 32.9 million in the previous year, with a total of 269 employees as of December 31, 2024[76] Research and Development - The company reported an increase in R&D expenses to HKD 10,928,000, up 5.9% from HKD 10,323,000 in the previous year[4] - Research and development costs rose to HKD 10,928,000 in 2024, compared to HKD 10,323,000 in 2023, reflecting an increase of 5.9%[29] Shareholder Information - The board proposed a final dividend of HKD 0.28 per share for the year ending December 31, 2024, down from HKD 0.40 per share in 2023[96] - The total number of issued shares as of December 31, 2024, was 956,675,000 shares, an increase from 911,607,000 shares as of December 31, 2023[73] - A total of 94,932,000 shares were repurchased and cancelled, with a total expenditure of HKD 65,921,520[94] Future Outlook - The company plans to continue expanding its market presence and investing in new product development to drive future growth[12] - The company expressed confidence in its long-term strategy and growth, stating that the current trading price does not reflect its intrinsic value[94] Compliance and Governance - The audit committee, consisting of three independent non-executive directors, reviewed the financial statements and related materials during the reporting period[86] - The company has adopted a standard code of conduct for directors' securities trading, confirming compliance during the reporting period[95] - The risk management committee reviewed the hedging policies related to aluminum ingot forward procurement activities[91] - The remuneration committee is responsible for recommending compensation policies for the board and senior management[88] - The nomination committee ensures a balanced composition of the board with appropriate skills and experience[90]

[Company Information](index=2&type=section&id=Company%20Information) This section provides fundamental company details, including board members, auditors, and key operational information [Company Overview](index=2&type=section&id=Company%20Overview) This chapter provides fundamental company information, including board and committee members, registered office, principal place of business, auditors, and stock code - The company's Chairman of the Board is Mr. Lian Yunzeng, with independent non-executive directors including Dr. Lian Dapeng, Ms. Guo Yang, and Mr. Ye Weiweng[2](index=2&type=chunk) - The company's auditor is Ernst & Young[4](index=4&type=chunk) [Business Review and Outlook](index=5&type=section&id=Business%20Review%20and%20Outlook) This section reviews the group's core business performance, highlighting revenue trends and strategic responses to market challenges [Business Overview](index=5&type=section&id=Business%20Overview) The Group's core business involves manufacturing monobloc aluminum aerosol cans, with revenue for the six months ended June 30, 2024, decreasing by **4%** to **HKD 119.7 million** due to weak domestic demand Revenue Performance for H1 2024 | Period | Revenue (HKD million) | YoY Change | | :--- | :--- | :--- | | For the six months ended June 30, 2024 | 119.7 | -4% | | For the six months ended June 30, 2023 | 124.6 | - | - The primary reasons for the revenue decline are changes in the Chinese domestic market, with low consumer confidence leading to conservative spending and weak domestic demand suppressing market activity[5](index=5&type=chunk) [Operating Environment and Outlook](index=5&type=section&id=Operating%20Environment%20and%20Outlook) The Group anticipates ongoing challenges from global economic conditions, intense market competition, and weakening consumer demand, responding with strategies focused on R&D, customer relations, and operational efficiency - Key challenges faced by the Group include: (i) intense global market competition; (ii) continuous degradation and weakening of consumer demand; and (iii) various policy risks in China[6](index=6&type=chunk) - Response strategies include: - Strengthening R&D and innovation to build long-term competitive advantages - Consolidating relationships with core customers and actively expanding to new clients - Enhancing production equipment capacity, reducing costs, and optimizing production processes - Implementing a strategy of 'technology patenting, patent standardization, and standard industrialization' to strengthen industry leadership[6](index=6&type=chunk) [Management Discussion and Analysis](index=6&type=section&id=Management%20Discussion%20and%20Analysis) This section provides a comprehensive analysis of the Group's financial performance, liquidity, risk management, and capital activities during the reporting period [Financial Review](index=6&type=section&id=Financial%20Review) In H1 2024, Group turnover decreased by **4%** to **HKD 119.7 million** due to lower China sales, while net profit declined by **5.9%** to **HKD 16.5 million** with a **13.8%** net profit margin Key Financial Indicators for H1 2024 | Indicator | H1 2024 (HKD million) | H1 2023 (HKD million) | YoY Change | | :--- | :--- | :--- | :--- | | Turnover | 119.7 | 124.6 | -4.0% | | Gross Profit | 35.4 | 37.4 | -5.3% | | Net Profit | 16.5 | 17.5 | -5.9% | | Gross Profit Margin | 29.6% | 30.0% | -0.4pp | | Net Profit Margin | 13.8% | 14.0% | -0.2pp | Revenue by Region | Region | H1 2024 (HKD million) | H1 2023 (HKD million) | YoY Change | | :--- | :--- | :--- | :--- | | China Customers | 105.3 | 114.6 | -8.1% | | Overseas Customers | 14.4 | 10.0 | +43.1% | - Sales and distribution expenses significantly decreased by **50.7%** year-on-year to **HKD 2.1 million**, primarily due to reduced customs declaration fees and business travel and entertainment expenses[15](index=15&type=chunk) [Liquidity and Capital Resources](index=7&type=section&id=Liquidity%20and%20Capital%20Resources) As of June 30, 2024, the Group maintained a sound financial position with **HKD 91.6 million** in net current assets, **HKD 23.7 million** in cash, and **HKD 65.5 million** in available bank facilities Liquidity Indicators | Indicator | June 30, 2024 | December 31, 2023 | | :--- | :--- | :--- | | Net Current Assets (HKD million) | 91.6 | 105.0 | | Cash and Cash Equivalents (HKD million) | 23.7 | 39.5 | | Current Ratio | 4.7 | 6.5 | | Gearing Ratio | -4% | -11% | - As of June 30, 2024, the Group had available standby bank facilities of approximately **HKD 65.5 million**[23](index=23&type=chunk) [Risk Management](index=8&type=section&id=Risk%20Management) The Group's primary risks include foreign exchange exposure from currency mismatches and raw material price volatility, with no forward aluminum ingot purchases made due to recent market fluctuations - Approximately **12%** of the Group's revenue is denominated in USD, while over **95%** of production costs are settled in RMB, creating foreign exchange risk[26](index=26&type=chunk) - Due to increased volatility in the market price of commodity aluminum ingots over the past six months, the company did not engage in any forward purchases of aluminum ingots during the reporting period[27](index=27&type=chunk) [Use of Proceeds](index=9&type=section&id=Use%20of%20Proceeds) As of June 30, 2024, most of the **HKD 80 million** IPO net proceeds were used for capacity expansion and operations, with **HKD 8.7 million** for a new R&D lab remaining unutilized IPO Proceeds Utilization and Balance (As of June 30, 2024) | Business Objective | Actual Net Proceeds (HKD million) | Total Utilized (HKD million) | Unutilized Balance (HKD million) | | :--- | :--- | :--- | :--- | | Capacity Expansion | 48.0 | 48.0 | 0 | | Establishment of New R&D Laboratory | 12.0 | 3.3 | 8.7 | | Repayment of Bank Loans | 16.0 | 16.0 | 0 | | General Working Capital | 4.0 | 4.0 | 0 | | **Total** | **80.0** | **71.3** | **8.7** | [Capital Operations and Convertible Notes](index=10&type=section&id=Capital%20Operations%20and%20Convertible%20Notes) During the period, the company issued **118 million** new shares from convertible note exercises and repurchased **76.768 million** shares, with full conversion of Chairman Lian Yunzeng's notes potentially impacting equity structure Share Repurchase Details During the Reporting Period | Month | Number of Shares Repurchased | Total Price Paid (HKD) | | :--- | :--- | :--- | | May 2024 | 2,384,000 | 1,489,420 | | June 2024 | 74,384,000 | 50,992,880 | | **Total** | **76,768,000** | **52,482,300** | - During the reporting period, the company issued **118 million** new ordinary shares due to the exercise of convertible notes[38](index=38&type=chunk) - If the convertible notes held by Chairman Mr. Lian Yunzeng were fully exercised, his shareholding percentage would increase from **38.13%** to **51.21%**, but due to public float requirements, these notes will not be fully converted[46](index=46&type=chunk) [Interim Condensed Consolidated Financial Statements](index=13&type=section&id=Interim%20Condensed%20Consolidated%20Financial%20Statements) This section presents the Group's interim condensed consolidated financial statements, including the statement of profit or loss, financial position, cash flows, and explanatory notes [Interim Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=14&type=section&id=Interim%20Condensed%20Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) For the six months ended June 30, 2024, the Group reported **HKD 119.7 million** in revenue, **HKD 21.26 million** profit before tax, and **HKD 16.47 million** profit for the period H1 2024 Statement of Profit or Loss Summary (HKD thousand) | Item | H1 2024 (Unaudited) | H1 2023 (Unaudited) | | :--- | :--- | :--- | | Revenue | 119,659 | 124,616 | | Gross Profit | 35,431 | 37,413 | | Profit Before Tax | 21,255 | 22,467 | | Profit for the Period | 16,473 | 17,508 | | Profit Attributable to Owners of the Parent | 16,189 | 17,210 | | Basic Earnings Per Share | 1.7 HK cents | 1.9 HK cents | | Diluted Earnings Per Share | 1.3 HK cents | 1.3 HK cents | [Interim Condensed Consolidated Statement of Financial Position](index=15&type=section&id=Interim%20Condensed%20Consolidated%20Statement%20of%20Financial%20Position) As of June 30, 2024, the Group's total assets were **HKD 303 million**, with **HKD 272 million** in net assets and **HKD 268 million** in equity attributable to owners of the parent Statement of Financial Position Summary (HKD thousand) | Item | June 30, 2024 (Unaudited) | December 31, 2023 (Audited) | | :--- | :--- | :--- | | Total Non-Current Assets | 186,521 | 218,886 | | Total Current Assets | 116,489 | 124,152 | | Total Current Liabilities | 24,939 | 19,114 | | **Net Assets** | **272,102** | **316,994** | | **Total Equity** | **272,102** | **316,994** | [Interim Condensed Consolidated Statement of Cash Flows](index=18&type=section&id=Interim%20Condensed%20Consolidated%20Statement%20of%20Cash%20Flows) In H1 2024, the Group generated **HKD 25.53 million** from operations and **HKD 23.67 million** from investing activities, while financing activities resulted in a **HKD 65.98 million** outflow, leading to a **HKD 16.77 million** net decrease in cash Cash Flow Statement Summary (HKD thousand) | Item | H1 2024 (Unaudited) | H1 2023 (Unaudited) | | :--- | :--- | :--- | | Net Cash from Operating Activities | 25,534 | 10,648 | | Net Cash from/(used in) Investing Activities | 23,673 | (55,425) | | Net Cash used in Financing Activities | (65,975) | (24,162) | | **Net Decrease in Cash and Cash Equivalents** | **(16,768)** | **(68,939)** | | Cash and Cash Equivalents at End of Period | 23,729 | 38,578 | [Summary of Notes to Financial Statements](index=20&type=section&id=Summary%20of%20Notes%20to%20Financial%20Statements) The notes provide detailed explanations of financial statement items, including revenue segmentation by region, related party transactions, and the background and conversion status of convertible notes Revenue by Geographical Market (HKD thousand) | Geographical Market | H1 2024 | H1 2023 | | :--- | :--- | :--- | | Mainland China | 105,258 | 114,552 | | Americas | 8,201 | 6,287 | | Asia | 5,355 | 3,322 | | Africa | 845 | 455 | | **Total** | **119,659** | **124,616** | - During the period, the Group's total sales to related parties Guangzhou Baoshili Chemical Co., Ltd. and Guangzhou Ouyaz Aerosol & Daily Chemical Products Manufacturing Co., Ltd. amounted to **HKD 7.588 million**[85](index=85&type=chunk) - As of June 30, 2024, the principal amount of unexercised convertible notes was **HKD 152 million**, convertible into **276 million** shares at a price of **HKD 0.55** per share[95](index=95&type=chunk) [Other Information](index=29&type=section&id=Other%20Information) This section covers additional corporate information, including directors' and major shareholders' interests, share option schemes, corporate governance practices, and dividend declarations [Directors' and Major Shareholders' Interests](index=29&type=section&id=Directors'%20and%20Major%20Shareholders'%20Interests) As of June 30, 2024, Chairman and Executive Director Mr. Lian Yunzeng held a **64.16%** equity interest, alongside convertible notes for an additional **26.83%** of issued shares Chairman Mr. Lian Yunzeng's Shareholding | Holding Method | Number of Shares | Approximate Percentage of Issued Shares | | :--- | :--- | :--- | | Beneficial Owner | 392,546,000 | 38.13% | | Interest in Controlled Corporation (Wellmass) | 268,000,000 | 26.03% | | **Total** | **660,546,000** | **64.16%** | [Share Option Schemes](index=31&type=section&id=Share%20Option%20Schemes) The company operates Pre-IPO and 2023 Share Option Schemes, with no options granted, exercised, lapsed, or cancelled during the six months ended June 30, 2024 - For the six months ended June 30, 2024, no share options were granted, exercised, lapsed, or cancelled under the Pre-IPO Share Option Scheme and the 2023 Share Option Scheme[114](index=114&type=chunk)[116](index=116&type=chunk) [Corporate Governance](index=34&type=section&id=Corporate%20Governance) During the reporting period, the company largely complied with the Corporate Governance Code, with the Chairman and CEO roles combined, while maintaining sufficient public float and established committees - The company deviated from Corporate Governance Code provision C.2.1, as the roles of Chairman and Chief Executive Officer are not separated, both held by Mr. Lian Yunzeng[124](index=124&type=chunk) - The company confirmed that as of the reporting date, it has maintained a sufficient public float of not less than **25%** of the total issued shares[125](index=125&type=chunk) [Dividends](index=35&type=section&id=Dividends) The Board declared an interim dividend of **0.28 HK cents** per share for the six months ended June 30, 2024, payable around October 29, 2024 Interim Dividend | Period | Interim Dividend Per Share | | :--- | :--- | | For the six months ended June 30, 2024 | 0.28 HK cents | | For the six months ended June 30, 2023 | 0.29 HK cents |

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，並明確表示概不就因本公告全部或任何部分內容而產生或因倚賴該等內容 而引致之任何損失承擔任何責任。 China Aluminum Cans Holdings Limited 中國鋁罐控股有限公司 （於開曼群島註冊成立之有限公司） （股份代號：6898） 截至二零二 四 年六月三十日止六個月的 中期業績公告 中期業績 中國鋁罐控股有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然公佈本公司及其 附屬公司（統稱「本集團」）截至二零二四年六月三十日止六個月的未經審核簡明綜合 財務業績，連同截至二零二三年六月三十日止六個月的比較數字。該等業績經本集 團外聘核數師安永會計師事務所及本公司轄下審核委員會（「審核委員會」）審閱。 – 1 – 中期簡明綜合損益及其他全面收益表 截至二零二四年六月三十日止六個月 其他全面收益 於其後期間可能重新分類至損益的 其他全面虧損： 換算國外業務產生的匯兌差額 (3,623) (16,850) 於其後期間不予重新分類至損益的 其他全面（虧損）╱收益： 以公允價值計量且其變動 ...

Revenue Recognition - Revenue from sales of industrial products is recognized at a point in time when control of the assets is transferred to the customer, typically upon delivery of the industrial products[192] - Revenue from R&D design services is recognized at a point in time when the relevant R&D services are provided[193] - Contract liabilities are recognized when the company receives payment from customers or when payment is due (whichever is earlier) before transferring the relevant goods or services. Contract liabilities are recognized as revenue when the company fulfills the contract by transferring control of the goods or services to the customer[194] Government Subsidies - Government subsidies are recognized at fair value when it is reasonably certain that the subsidies will be received and all attached conditions are met. When subsidies relate to expense items, they are recognized as income on a systematic basis over the period during which the costs are expected to be compensated[190] Employee Benefits - Employees of the company's subsidiaries operating in mainland China are required to participate in the central pension plan established by local municipal governments. These subsidiaries must contribute a certain percentage of their salary costs to the central pension plan. Contributions are deducted from profits and losses when they are payable according to the central pension plan regulations[195] Dividends - Interim dividends are proposed and declared simultaneously, as the company's articles of association authorize the board to declare interim dividends. Therefore, interim dividends are immediately recognized as liabilities when proposed and declared[196] Foreign Currency Transactions - The company's financial statements are presented in its functional currency, Hong Kong dollars. Each entity within the group determines its own functional currency, and items in the financial statements of each entity are measured in that functional currency. Foreign currency transactions are initially recorded at the exchange rate of the functional currency on the transaction date. Monetary assets and liabilities denominated in foreign currencies are translated at the functional currency exchange rate at the end of each reporting period. Differences arising from the settlement or translation of monetary items are recognized in profit or loss[197] - Exchange differences arising from the translation of foreign operations are recognized in other comprehensive income and accumulated in the exchange fluctuation reserve (unless the difference is attributable to non-controlling interests). When a foreign operation is disposed of, the cumulative amount of the reserve related to that specific foreign operation is recognized in profit or loss[198] Deferred Tax Assets - Deferred tax assets are recognized if it is probable that future taxable profits will be available to offset deductible temporary differences. This requires significant judgment regarding the tax treatment of certain transactions and an assessment of the likelihood of sufficient future taxable profits to recover deferred tax assets[199] Property, Plant, and Equipment - The carrying amounts of property, plant, and equipment as of December 31, 2023, and December 31, 2022, were HK$182,141,000 and HK$208,561,000, respectively. The company reviews the useful lives and residual values of these assets at the end of each financial year based on changes in circumstances[200]

Financial Performance - For the year ended December 31, 2023, the total revenue was HKD 235,507,000, representing an increase of 11.9% compared to HKD 210,514,000 in 2022[10] - Gross profit for the same period was HKD 69,598,000, up 27.8% from HKD 54,463,000 in the previous year[10] - The net profit attributable to the owners of the parent company was HKD 21,461,000, a rise of 4.6% from HKD 20,513,000 in 2022[12] - The company reported a total comprehensive income of HKD 11,838,000, compared to a loss of HKD 8,033,000 in 2022[10] - The pre-tax profit for 2023 was HKD 29,787,000, a rise of 28.8% from HKD 23,103,000 in 2022[90] - The net profit for the reporting period was approximately HKD 21.9 million, an increase of about 4.9% compared to HKD 20.9 million in 2022[132] - The net profit margin for the reporting period was approximately 9.3%, down from 9.9% in 2022[132] Revenue Breakdown - Revenue from mainland China was HKD 210,799,000 in 2023, up 14.9% from HKD 183,397,000 in 2022[29] - Revenue from a third party amounted to HKD 41,187,000 in 2023, representing over 10% of total revenue, compared to HKD 29,254,000 in 2022[30] - The company reported a decrease in revenue from the Americas, which fell to HKD 15,014,000 in 2023 from HKD 17,130,000 in 2022, a decline of 12.3%[29] - Customer contract revenue for 2023 was HKD 235,507,000, an increase of 11.4% from HKD 210,514,000 in 2022[62] Expenses and Costs - The cost of goods sold for 2023 was HKD 165,909,000, compared to HKD 156,051,000 in 2022, indicating an increase of 6.0%[69] - Total tax expense for the year was HKD 7,897,000, which represents an effective tax rate of 26.5% compared to 9.6% in 2022[90] - Administrative expenses for the reporting period were approximately HKD 25.6 million, a 17.0% increase from HKD 21.9 million in 2022[131] - Sales and distribution expenses were approximately HKD 4.9 million, a reduction of about 30.0% compared to HKD 7.0 million in the previous year, primarily due to strict cost control measures[156] Assets and Liabilities - The total assets less current liabilities decreased to HKD 323,924,000 from HKD 369,870,000, reflecting a decline of 12.4%[7] - The total non-current assets value was HKD 192,943,000 in 2023, down from HKD 220,496,000 in 2022, a decrease of 12.5%[29] - The total equity attributable to owners of the parent company decreased to HKD 312,682,000 from HKD 357,251,000, a decline of 12.5%[8] - The net asset value as of December 31, 2023, was HKD 316,994,000, down from HKD 362,325,000 in 2022, reflecting a decline of 12.5%[77] Cash Flow and Financing - The cash and cash equivalents dropped significantly to HKD 39,500,000 from HKD 112,790,000, a decrease of 65.0%[7] - The group had available bank financing of approximately HKD 89.0 million as of December 31, 2023, compared to HKD 90.0 million as of December 31, 2022[136] - The total interest-bearing bank and other borrowings decreased to HKD 39,296,000 in 2023 from HKD 45,051,000 in 2022[106] - The group has floating rate bank financing of HKD 88.87 million due within one year[152] Research and Development - Research and development expenses were HKD 10,323,000, slightly down from HKD 11,023,000 in the previous year[10] - R&D expenses for 2023 amounted to HKD 10,323,000, a decrease of 6.4% from HKD 11,023,000 in 2022[69] - A new R&D laboratory will be established with an investment of HKD 12 million, of which HKD 3.3 million has been utilized, and the remaining HKD 8.7 million is expected to be used by 2024[190] Market Strategy and Future Plans - The company plans to continue expanding its market presence and investing in new product development to drive future growth[12] - The group aims to explore new business opportunities to enhance shareholder value while consolidating existing operations[168] - The company plans to allocate HKD 48 million for expanding production capacity, including upgrading existing production lines and acquiring a new production line[190] Governance and Management - The company emphasizes the importance of separating the roles of Chairman and CEO, although currently, the same individual holds both positions due to their experience and reputation[193] - The company has established a Nomination Committee to review board structure and ensure a balanced mix of skills and experience among directors[198] - The Risk Management Committee has been formed to review and approve the company's hedging policies and ensure effective execution[198]

Financial Performance - For the six months ended June 30, 2023, the group's sales revenue from aluminum aerosol cans was approximately HKD 124.6 million, an increase of about 10.5% compared to HKD 112.7 million for the same period in 2022[3]. - Gross profit for the six months ended June 30, 2023, was approximately HKD 37.4 million, reflecting a year-on-year increase of about 25.9%, with the gross margin improving from 26.4% to 30.0%[14]. - For the six months ended June 30, 2023, the group's net profit was approximately HKD 17.5 million, a year-on-year increase of about 31.2% compared to HKD 13.3 million for the same period in 2022[20]. - The net profit margin for the six months ended June 30, 2023, was approximately 14.0%, up from 11.8% for the same period in 2022[20]. - The increase in net profit was primarily due to improved sales from the easing of COVID-19 restrictions, a decrease in raw material costs, and strict cost control measures[30]. - The company reported a total comprehensive income of HKD 1,400,000 for the period, compared to a loss of HKD 4,010,000 in the previous year[127]. - The company reported a profit of HKD 17,210,000 for the period, compared to a profit of HKD 13,123,000 for the same period in 2022, representing a year-on-year increase of approximately 31.5%[145]. Sales and Revenue - Sales from Chinese customers accounted for approximately 91.9% of total revenue, with sales increasing by about 13.0% due to the easing of COVID-19 restrictions[7]. - The group sold approximately 66.2 million aerosol cans during the period, up from 55.6 million cans in the same period last year[12]. - Revenue from industrial products sales reached HKD 124,616,000, up from HKD 112,731,000 in the previous year, indicating a growth of about 10.5%[151]. - Sales in mainland China accounted for HKD 114,552,000, an increase from HKD 101,378,000, reflecting a growth of approximately 12.4%[151]. Costs and Expenses - The cost of sales for the same period was approximately HKD 87.2 million, representing about 70.0% of the revenue, a decrease from 73.6% in the previous year[1]. - Sales and distribution expenses for the six months ended June 30, 2023, were approximately HKD 4.2 million, representing a year-on-year increase of about 23.3% from HKD 3.4 million[19]. - Administrative expenses for the six months ended June 30, 2023, were approximately HKD 11.3 million, an increase of about 18.1% from HKD 9.6 million for the same period in 2022[28]. - Financing costs for the six months ended June 30, 2023, were approximately HKD 8,000, a decrease of about 55.6% from HKD 18,000 for the same period in 2022[29]. Cash Flow and Financial Position - The group's cash and cash equivalents as of June 30, 2023, were approximately HKD 38.6 million, down from HKD 112.8 million as of December 31, 2022[37]. - The group had available bank financing of approximately HKD 164.5 million as of June 30, 2023, compared to HKD 90.0 million as of December 31, 2022[33]. - The debt-to-equity ratio as of June 30, 2023, was approximately -8%, an improvement from -39% as of December 31, 2022[34]. - The company incurred a net cash outflow of HKD 68,939,000 in the first half of 2023, compared to a net inflow of HKD 4,454,000 in the same period of 2022[133]. - The cash and cash equivalents decreased significantly to HKD 38,578,000 from HKD 112,790,000, a drop of about 65.8%[132]. Shareholder Information - The board declared an interim dividend of HKD 0.29 per share for the six months ended June 30, 2023, consistent with the dividend declared for the same period in 2022[45]. - The company has a total of 660,546,000 shares held by Mr. Lian Yunzheng, representing approximately 69.40% of the issued shares[55]. - The company plans to establish a new R&D laboratory with an expected expenditure of HKD 12 million, of which HKD 3.3 million has been utilized as of June 30, 2023[95]. - The company plans to expand its downstream distribution channels through the acquisition of Topspan Holdings Limited for a total consideration of HKD 900,000,000, with HKD 780,000,000 paid via convertible bonds[116]. Employee and Operational Metrics - As of June 30, 2023, the group had 269 employees, an increase from 244 employees as of December 31, 2022[88]. - Employee costs for the six months ended June 30, 2023, were approximately HKD 15.1 million, compared to HKD 13.9 million for the same period in 2022, representing an increase of about 8.6%[88]. - The company incurred research and development expenses of HKD 4,992,000 for the six months, a decrease from HKD 5,809,000 in the previous year[127]. Risk Management and Corporate Governance - The management highlighted the ongoing challenges posed by domestic demand insufficiency and international trade tensions, which may impact future performance[5]. - The risk management committee was established to review and approve the company's hedging policies and report to the board on their execution[68]. - The remuneration committee is responsible for recommending the remuneration policies for all directors and senior management[67].

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，並明確表示概不就因本公告全部或任何部分內容而產生或因倚賴該等內容 而引致之任何損失承擔任何責任。 China Aluminum Cans Holdings Limited 中 國 鋁 罐 控 股 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：6898） 截 至 二 零 二 三 年 六 月 三 十 日 止 六 個 月 的 中 期 業 績 公 告 中期業績 中國鋁罐控股有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然公佈本公司及其 附屬公司（統稱「本集團」）截至二零二三年六月三十日止六個月的未經審核簡明綜合 財務業績，連同截至二零二二年六月三十日止六個月的比較數字。該等業績經本集 團外聘核數師安永會計師事務所及本公司轄下審核委員會（「審核委員會」）審閱。 ...

Financial Performance - The total revenue for the reporting period was approximately HKD 210.5 million, a slight increase of about 0.8% compared to HKD 208.9 million in the previous year[6]. - The profit for the year was approximately HKD 20.9 million, representing an increase of about 13.3% from HKD 18.4 million in the previous year[6]. - The number of aluminum aerosol cans sold during the reporting period was approximately 105.1 million, down from 113.4 million in the previous year[12]. - Revenue from the Chinese market was approximately HKD 183.4 million, a decrease from HKD 185.5 million in the previous year[12]. - The cost of sales was approximately HKD 156.1 million, accounting for about 74.1% of the total revenue, an increase from 72.9% in the previous year[13]. - Other income and gains amounted to approximately HKD 12.2 million, an increase of about 16.5% compared to HKD 10.5 million in the previous year[14]. - Selling and distribution expenses were approximately HKD 7.0 million, a decrease of about 15.1% from HKD 8.2 million in the previous year[15]. - Administrative expenses were approximately HKD 21.9 million, a slight increase of about 2.3% from HKD 21.4 million in the previous year[17]. - The group's net profit for the reporting period was approximately HKD 20.9 million, an increase of about 13.3% compared to HKD 18.4 million in the same period last year[18]. - The net profit margin for the reporting period was approximately 9.9%, up from 8.8% in the previous year[18]. Assets and Liabilities - As of December 31, 2022, the group held a net current asset value of approximately HKD 147.3 million, compared to HKD 130.1 million a year earlier[20]. - The group's cash and cash equivalents amounted to HKD 112.8 million as of December 31, 2022, an increase from HKD 95.4 million in the previous year[20]. - The current ratio as of December 31, 2022, was approximately 7.3, compared to 7.1 a year earlier[20]. - The debt-to-equity ratio as of December 31, 2022, was approximately -39%, improved from -31% in the previous year[23]. - The group had no significant contingent liabilities as of December 31, 2022[24]. Employee and Operational Metrics - Employee costs for the reporting period were approximately HKD 30.7 million, down from HKD 35.6 million in the previous year[30]. - The group had no significant investments or acquisitions during the reporting period[31]. - The company currently employs 159 male and 85 female staff, showing a slight decrease in female representation from the previous year (159 male and 86 female)[53]. - The employee turnover rate increased from 51.7% in 2021 to 54.0% in 2022, indicating a rise of about 4.45%[181]. - The percentage of trained employees increased from 99.6% in 2021 to 100% in 2022, achieving full compliance[183]. Corporate Governance - The company has adopted the corporate governance code as per the Hong Kong Stock Exchange, except for the separation of the roles of Chairman and CEO, which are currently held by the same individual, Mr. Lian Yunzeng[37]. - The board consists of two executive directors and three independent non-executive directors, ensuring over one-third of the board is independent, which enhances its independence and decision-making capabilities[45]. - All independent non-executive directors confirm their independence annually, in accordance with the guidelines set out in the listing rules[41]. - The company has implemented a formal and transparent process for the appointment and re-election of directors, with all directors required to retire at least every three years[49]. - Continuous professional development is emphasized, with all directors participating in training programs to enhance their knowledge and skills[51]. - The board is collectively responsible for guiding and supervising the company's affairs to promote successful development[44]. - The independent non-executive directors possess extensive professional knowledge and experience in accounting, finance, law, and business, ensuring high-quality independent opinions and judgments[40]. - The company has established sufficient safeguards to ensure a balance of power within the board, despite the dual role of the Chairman and CEO[37]. - The board has the authority to seek independent professional advice at the company's expense when necessary[44]. - The company is committed to maintaining high standards of corporate governance and regularly reviews its governance policies[74]. Risk Management - The risk management committee is responsible for identifying and managing operational risks, with a focus on financial and market conditions[94]. - The company maintains a robust internal control system to ensure sustainable growth and strategic goal achievement[94]. - The risk control team conducts quarterly meetings to assess and prioritize identified risks based on their likelihood and impact[99]. - The company has identified key risks that may affect its business development and financial performance[102]. - The group has implemented appropriate human resource allocation and effective management incentives to mitigate strategic risks associated with misallocation and regulatory compliance[103]. - The group has strengthened its operational capital accounting system and established a comprehensive annual budget to manage financial risks, including a monthly cash flow budget to mitigate cash flow risks[104]. - The group actively monitors environmental standards and has established long-term plans for energy conservation and emissions reduction to address operational risks[105]. - The board has conducted an annual review of the effectiveness of the risk management and internal control systems as of December 31, 2022[108]. - The group has engaged a third-party professional organization to audit the effectiveness of its internal control systems related to risk management and governance[108]. Environmental, Social, and Governance (ESG) - The company has established an environmental, social, and governance (ESG) framework to promote and implement its sustainability strategy[121]. - The board of directors is responsible for guiding the company's sustainability direction and enhancing ESG risk management[121]. - Key stakeholders identified include employees, customers, suppliers, and investors, with regular communication channels established for engagement[124]. - The company emphasizes compliance with laws and regulations, ensuring production safety, and fulfilling social responsibilities[124]. - The company aims to enhance shareholder value through stable operations and timely information disclosure[124]. - Employee rights and benefits are prioritized, with a focus on providing a safe working environment and career development opportunities[125]. - The company engages in community participation and local economic development initiatives, including volunteer activities and charitable investments[125]. - The company achieved a reduction in air pollutants and greenhouse gas emissions, complying with local emission standards, which resulted in environmental tax reductions[131]. - The company aims to maintain zero significant violations related to emissions, greenhouse gases, and waste over the next five years[137]. - The company has implemented measures to reduce volatile organic compound emissions by using low-VOC paints and cleaner fuels[135]. Quality Control and Product Safety - The company has implemented a quality control system certified by ISO 9001 for procurement and supplier evaluation[158]. - The company conducts random sampling inspections of raw materials upon receipt to ensure quality compliance[161]. - The company has established online monitoring devices for suppliers to enhance production process control[160]. - The company has a strict policy against child labor and forced labor, ensuring compliance with labor laws[155]. - The company has implemented strict testing for product safety and pressure resistance, with its products exceeding national standards[163]. - There were no disputes regarding product quality with customers during the reporting period, and no products were recalled for safety or health reasons[169]. - The company received a special award for outstanding technology application in the packaging industry, highlighting its commitment to quality assurance[162]. Community Engagement and Social Responsibility - The company actively participates in community investment, providing support to hospitals and educational institutions during the COVID-19 pandemic[174]. - The company has established a whistleblowing policy to combat corruption and ensure fair operations within its workforce[173]. - The company has contributed to the development of two national standards and one international standard during the reporting period[176]. - The company emphasizes the importance of intellectual property rights to promote innovation and prevent unnecessary conflicts[170]. - The company is committed to continuing its efforts to give back to the country, industry, and society in the future[177].