Financial Performance - Total revenue for the fiscal year ended December 31, 2024, was HKD 287,213,000, a decrease of 12% compared to HKD 326,713,000 in 2023[9] - The company reported a pre-tax profit of HKD 20,680,000 for 2024, compared to HKD 19,021,000 in 2023, reflecting a growth of 8.7%[9] - Total revenue decreased by approximately HKD 39.5 million or 12.1% from HKD 326.7 million in 2023 to HKD 287.2 million in 2024, primarily due to weakened customer demand amid economic downturn[22] - Gross profit increased by approximately HKD 5.7 million or 11.3%, from HKD 50.7 million in 2023 to HKD 56.4 million in 2024, with gross margin rising from 15.5% to 19.6%[22] - The company recorded a profit of approximately HKD 17.5 million for the year ending December 31, 2024, compared to HKD 17.2 million in 2023[25] Sales and Revenue Composition - The sales of transformers accounted for approximately 41.5% of total sales, down from 44.8% in the previous year[14] - Sales of electronic components accounted for approximately 57.4% of total sales, up from 53.5% in the previous year[14] - The sales of electronic health products were reported as zero for 2024, down from HKD 2,687,000 in 2023[17] - Sales from major customers, such as Customer A and Customer B, increased to HKD 52.5 million and decreased to HKD 108.5 million respectively, highlighting shifts in customer revenue contributions[21] - The company's top five customers accounted for approximately 70.3% of revenue for the year ended December 31, 2024, down from 79.0% in 2023[149] Assets and Liabilities - The total assets as of December 31, 2024, were HKD 217,654,000, a slight increase from HKD 210,474,000 in 2023[10] - The net asset value of the group as of December 31, 2024, was approximately HKD 84.7 million, down from HKD 98.1 million in 2023[29] - The current ratio of the group was approximately 1.33, with current assets of HKD 177.7 million and current liabilities of HKD 132.9 million as of December 31, 2024[29] - The debt-to-equity ratio decreased to approximately 0.17 in 2024 from 0.26 in 2023, primarily due to a reduction in bank loans during the review period[30] Corporate Governance - The company has adhered to the corporate governance code as stipulated in the GEM listing rules for the year ending December 31, 2024[57] - The board consists of six directors, including three executive directors and three independent non-executive directors, ensuring a balanced governance structure[62] - The independent non-executive directors have confirmed their understanding of their responsibilities under the GEM listing rules[62] - The company emphasizes the importance of corporate culture as a foundation for long-term business development and economic success[58] - The company maintains high standards of corporate governance, as detailed in the corporate governance report[198] Risk Management - The company has established a risk management and internal control system, which is regularly assessed for effectiveness[74] - The board is responsible for establishing and maintaining an effective risk management and internal control system[104] - The company aims to instill a strong risk awareness culture among all employees to enhance the effectiveness of the risk management system[104] - Significant risks and internal control weaknesses identified during the year have been reported to the audit committee for further action[117] - The company has adopted a whistleblowing policy to encourage employees and stakeholders to report suspected misconduct confidentially[110] Employee and Management - Employee headcount increased to approximately 585 as of December 31, 2024, compared to about 458 in 2023, with total employee costs around HKD 46.8 million[38] - The gender ratio of the employee team, including senior management, is 54% male to 46% female, indicating a balanced gender diversity[99] - The company has implemented a comprehensive plan to identify and train female employees for potential promotion to senior management or board positions[98] - The salary range for senior management for the year 2024 includes 2 individuals earning between 0 to 1,000,000 HKD, compared to 3 individuals in 2023[78] Capital Expenditure and Investments - Capital expenditure for the year ended December 31, 2024, was approximately HKD 6.1 million, a significant decrease from HKD 26.5 million in 2023[32] - The capital expenditure primarily related to the purchase of two non-residential properties and leasehold improvements[32] - The group plans to invest up to 30% of its cash in short-term, low-risk Hong Kong-listed securities, subject to certain conditions[42] - The group had outstanding capital commitments of approximately HKD 641,000 as of December 31, 2024[37] Dividends - The company declared a special interim dividend of HKD 0.15 per ordinary share, totaling HKD 30,000,000 for the six months ended June 30, 2024[136] - The board does not intend to declare a final dividend for the year ending December 31, 2024[136] - The company has adopted a dividend policy to maintain sufficient cash reserves for operational needs and future business growth[137] - The company has not set a predetermined dividend payout ratio, allowing the board discretion in declaring dividends[138] Shareholder Information - The company has multiple communication channels with shareholders and investors, including quarterly and annual reports, and annual general meetings[119] - The company has established multiple communication channels with shareholders to enhance investor relations[125] - The company has received independence confirmations from its independent non-executive directors, affirming their status as independent individuals[182] - The company has not redeemed any of its own shares during the fiscal year ending December 31, 2024[194]

Financial Performance - For the fiscal year ending December 31, 2024, the company reported total revenue of HKD 287,213,000, a decrease of 12.1% from HKD 326,713,000 in 2023[4] - Gross profit for the year was HKD 56,403,000, representing a gross margin of 19.6%, compared to HKD 50,656,000 in the previous year[4] - Operating profit increased to HKD 22,472,000, up 4.0% from HKD 21,606,000 in 2023[4] - The net profit for the year was HKD 17,546,000, slightly up from HKD 17,174,000 in 2023, resulting in an earnings per share of HKD 8.78, compared to HKD 8.59 in the previous year[4] - The group reported a profit before tax of HKD 20,680,000 in 2024, compared to HKD 19,021,000 in 2023, an increase of about 8.7%[17] - The total income tax expense for 2024 was HKD 3,134,000, up from HKD 1,847,000 in 2023, representing an increase of approximately 69.5%[16] - The company recorded a profit of approximately HKD 17.5 million for the year ended December 31, 2024, compared to HKD 17.2 million for the year ended December 31, 2023[44] Revenue Breakdown - The group's revenue from transformer sales decreased to HKD 119,202,000 in 2024 from HKD 146,176,000 in 2023, representing a decline of approximately 18.5%[10] - Customer contract revenue fell to HKD 287,213,000 in 2024, down from HKD 326,713,000 in 2023, a decrease of about 12.1%[10] - Revenue from electronic components sales decreased to HKD 164,783,000 in 2024 from HKD 174,750,000 in 2023, reflecting a decline of approximately 5.7%[10] - Major customer A's revenue from transformer sales increased to HKD 52,537,000 in 2024, up from HKD 43,116,000 in 2023, an increase of about 21.5%[14] - Major customer B's revenue from electronic components and other products decreased to HKD 108,534,000 in 2024 from HKD 162,054,000 in 2023, a decline of approximately 33.1%[14] Assets and Liabilities - Total assets as of December 31, 2024, were HKD 177,672,000, a marginal increase from HKD 175,507,000 in 2023[5] - Current liabilities rose to HKD 132,917,000 from HKD 112,338,000 in the previous year, indicating a 17.5% increase[5] - The company's cash and cash equivalents decreased to HKD 6,130,000 from HKD 11,711,000 in 2023, reflecting a decline of 47.6%[5] - The company reported a significant increase in trade and other receivables, which rose to HKD 71,882,000 from HKD 34,898,000, marking a 105.6% increase[5] - The company has maintained its share capital at HKD 2,000,000, with total equity attributable to owners decreasing to HKD 84,763,000 from HKD 98,158,000[6] Trade Receivables and Credit Management - Trade receivables increased to HKD 63,775,000 in 2024 from HKD 29,644,000 in 2023, reflecting a growth of 115%[22] - The aging analysis of trade receivables shows that amounts overdue over one year increased to HKD 757,000 in 2024 from HKD 511,000 in 2023[23] - The provision for bad debts decreased slightly to HKD 4,567,000 in 2024 from HKD 4,614,000 in 2023, indicating effective credit management[24] - The weighted average expected loss rate for overdue receivables over one year is 82% in 2024, compared to 90% in 2023, showing improved credit risk management[25] - The company provided an average credit period of 15 to 90 days to trade customers, with no overdue or impairment records reported[23] - The company has assessed the credit quality of potential new customers before extending credit, ensuring a robust credit risk management process[23] Expenses and Investments - Research and development expenses increased to HKD 11,499,000 in 2024 from HKD 10,048,000 in 2023, an increase of about 14.5%[19] - The company's capital expenditure for the year ended December 31, 2024, was approximately HKD 6.1 million, significantly lower than HKD 26.5 million for the year ended December 31, 2023[49] - The total employee cost for the year ended December 31, 2024, was approximately HKD 46.8 million, an increase from HKD 44.9 million for the year ended December 31, 2023[55] - The group had no significant investments as of December 31, 2024, consistent with the previous year[52] - The group plans to invest up to 30% of its cash in short-term, low-risk Hong Kong-listed securities, subject to certain conditions[58] Dividends and Shareholder Returns - The company declared an interim dividend of HKD 0.15 per share, totaling HKD 30,000,000 for 2024, compared to no dividend in 2023[19] - The company declared a special interim dividend of HKD 0.15 per ordinary share, totaling HKD 30,000,000 for the six months ended June 30, 2024[64] - The board does not intend to declare a final dividend for the year ending December 31, 2024[64] Governance and Risk Management - The company has complied with the corporate governance code provisions for the year ending December 31, 2024[66] - The audit committee has reviewed the audited annual results for the year ending December 31, 2024[70] - The risk management committee oversees the risk governance structure and hedging policies, including copper futures purchases[71]

僑 洋 國 際 控 股 有 限 公 司 (於関曼群島註冊成立的有限公司) 股份代號 : 8070 02-120 中期 業績報告 2024 香港聯合交易所有限公司（「聯交所」）GEM的特色 GEM的定位，乃為中小型公司提供一個上市的市場，此等公司相比起其他在聯交所上市的公司 帶有較高投資風險。有意投資的人士應了解投資於該等公司的潛在風險，並應經過審慎周詳的 考慮後方作出投資決定。 由於GEM上市公司普遍為中小型公司，在GEM買賣的證券可能會較於主板買賣之證券承受較大 的市場波動風險，同時無法保證在GEM買賣的證券會有高流通量的市場。 香港交易及結算所有限公司及聯交所對本報告的內容概不負責，對其準確性或完整性亦不發表 任何聲明，並明確表示，概不對因本報告全部或任何部份內容而產生或因倚賴該等內容而引致 的任何損失承擔任何責任。 本報告的資料乃遵照《香港聯合交易所有限公司GEM證券上市規則》（「GEM上市規則」）而刊載， 旨在提供有關僑洋國際控股有限公司（「本公司」或「我們」）及其附屬公司（統稱「本集團」）的資料； 本公司董事（「董事」）願就本報告的資料共同及個別地承擔全部責任。各董事在作出一切合理查 詢後，確認就其 ...

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倚賴該等內容而引致的任何損失承擔任何責任。 KEEN OCEAN INTERNATIONAL HOLDING LIMITED 僑洋國際控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：8070） 截至2024年6月30日止六個月之 中期業績公告 香港聯合交易所有限公司（「聯交所」）GEM的特色 GEM的定位，乃為中小型公司提供一個上市的市場，此等公司相比起其他在聯交 所上市的公司帶有較高投資風險。有意投資的人士應了解投資於該等公司的潛在 風險，並應經過審慎周詳的考慮後方作出投資決定。 由於GEM上市公司普遍為中小型公司，在GEM買賣的證券可能會較於主板買賣 之證券承受較大的市場波動風險，同時無法保證在GEM買賣的證券會有高流通量 的市場。 本公告的資料乃遵照《香港聯合交易所有限公司GEM證券上市規則》（「GEM上市 規則」）而刊載，旨在提供有關僑洋國際控股有限公司（「本公司」或「我們」）及其附 屬公司（統稱「本集團」）的資料；本公司董事（ ...

Financial Performance - Total revenue for the fiscal year ended December 31, 2023, was HKD 326,713,000, a decrease of 17.3% from HKD 394,867,000 in 2022[7]. - The operating profit before tax for 2023 was HKD 19,021,000, compared to HKD 21,009,000 in 2022, reflecting a decline of 9.5%[7]. - The sales of transformers decreased significantly to HKD 146,176,000 in 2023 from HKD 219,390,000 in 2022, representing a drop of 33.3%[17]. - The sales of electronic components increased to HKD 174,750,000 in 2023, up from HKD 171,260,000 in 2022, showing a growth of 2.9%[17]. - The group's revenue decreased by approximately HKD 68.2 million or 17.3% from about HKD 394.9 million in 2022 to approximately HKD 326.7 million in 2023, primarily due to a reduction in transformer procurement orders[23]. - Gross profit decreased by approximately HKD 7.0 million or 12.1%, from about HKD 57.7 million in 2022 to approximately HKD 50.7 million in 2023, while the gross profit margin increased from 14.6% to 15.5%[23]. - The net profit for the year was approximately HKD 17.2 million, compared to HKD 16.8 million in 2022, reflecting a stable performance despite revenue decline[28]. Assets and Liabilities - The total assets as of December 31, 2023, were HKD 210,474,000, a decrease from HKD 238,222,000 in 2022[8]. - The total liabilities decreased to HKD 112,338,000 in 2023 from HKD 156,417,000 in 2022, a reduction of 28.2%[8]. - As of December 31, 2023, the group's net asset value reached approximately HKD 98.1 million, an increase from HKD 81.8 million as of December 31, 2022[35]. - The group's current assets were approximately HKD 175.5 million as of December 31, 2023, down from HKD 223.2 million as of December 31, 2022[35]. - The group's debt-to-equity ratio decreased to approximately 0.26 as of December 31, 2023, compared to 0.41 as of December 31, 2022, primarily due to a reduction in bank loans[36]. Operational Challenges and Strategies - The company faced challenges in material and product delivery due to geopolitical tensions and export restrictions from the US to China[10]. - The company anticipates ongoing challenges including unstable demand patterns and rising delivery and material costs, but aims to maintain sufficient buffer stock to address uncertainties[31]. - The company plans to increase production capacity for clean energy products in response to rising global demand[10]. - The company has reallocated resources for electronic healthcare products to meet changing customer demands, although transformer product demand is expected to continue to decline[31]. Corporate Governance - The company has adopted the principles and code provisions of the GEM Listing Rules Appendix C1 for corporate governance, ensuring proper regulation of its operations and decision-making processes[69][70]. - The board consists of six directors, including three executive directors and three independent non-executive directors, with all directors attending 100% of the meetings held[78][79]. - The board emphasizes the importance of corporate culture as a foundation for long-term business development and economic success, aiming for sustainable growth[71][73]. - The company has confirmed compliance with the code provisions regarding securities trading for the fiscal year ending December 31, 2023[75]. - The company has adopted a nomination policy that outlines the main selection criteria and principles for recommending candidates for the board[105]. Risk Management - The group maintains an effective risk management and internal control system, which is subject to annual review to ensure adequacy in accounting and financial reporting functions[128]. - The internal control system is designed to manage risks rather than eliminate them, providing reasonable assurance against significant misstatements or losses[139]. - The company has adopted a whistleblowing policy to encourage employees and associates to report suspected misconduct confidentially[134]. - The risk management framework includes identifying, analyzing, prioritizing risks, and maintaining a risk register to monitor identified risks[136]. Shareholder Communication - The company aims to provide high levels of disclosure and financial transparency to shareholders and investors through various communication channels[144]. - The company has established multiple communication channels with shareholders, including quarterly, interim, and annual reports, as well as annual general meetings[152]. - The board has committed to regularly reviewing the effectiveness of the shareholder communication policy, which has been deemed sufficient and effective[153]. - The company encourages shareholders to attend the annual general meeting and provides at least 20 business days' notice for such events[144]. Stock Option Plan - The stock option plan allows for a maximum of 20,000,000 shares to be issued, representing 10% of the total issued shares as of the report date[195]. - The maximum number of stock options granted to any individual participant under the stock option plan cannot exceed 1% of the total issued shares as of the grant date[198]. - The stock option plan aims to incentivize participants to enhance performance and attract talent beneficial to the group's long-term development[194]. - Performance targets may need to be met before the recipients can exercise the granted stock options[200].

Financial Performance - The total revenue for the year ended December 31, 2023, was HKD 326,713,000, a decrease of 17.3% compared to HKD 394,867,000 in 2022[5] - Gross profit for the year was HKD 50,656,000, down from HKD 57,742,000 in the previous year, reflecting a gross margin of 15.5%[5] - Operating profit decreased to HKD 21,606,000 from HKD 23,919,000, representing a decline of 9.7%[5] - Net profit for the year was HKD 17,174,000, slightly up from HKD 16,798,000 in 2022, indicating a growth of 2.2%[5] - Basic and diluted earnings per share increased to HKD 8.59 from HKD 8.40, reflecting a growth of 2.3%[5] - The group reported a total revenue of HKD 19,021 for 2023, a decrease from HKD 21,009 in 2022, indicating a decline of approximately 9.5%[20] - The company reported a profit of approximately HKD 17.2 million for the year ended December 31, 2023, compared to approximately HKD 16.8 million for the year ended December 31, 2022[60] Revenue Breakdown - Revenue from transformer sales was HKD 146,176,000, down 33.3% from HKD 219,390,000 in 2022[12] - Revenue from electronic components sales increased to HKD 174,750,000, up 2.9% from HKD 171,260,000 in the previous year[12] - Sales of transformers accounted for approximately 44.8% of total sales for the year ended December 31, 2023, compared to 55.6% for the year ended December 31, 2022[50] - Sales of electronic components and other products accounted for approximately 53.5% of total sales for the year ended December 31, 2023, up from 43.4% for the year ended December 31, 2022[50] Cost and Expenses - The total cost of goods sold, including depreciation and direct labor costs, was HKD 274,067 in 2023, down from HKD 336,371 in 2022, a decrease of approximately 18.5%[23] - Sales costs decreased by approximately HKD 61.0 million or 18.1% to about HKD 276.1 million for the year ended December 31, 2023, consistent with the decline in revenue[55] - The company’s administrative expenses decreased by approximately HKD 0.1 million or 0.3% to about HKD 30.0 million for the year ended December 31, 2023[59] - Financing costs decreased by approximately HKD 0.3 million or 10.3% to about HKD 2.6 million for the year ended December 31, 2023, due to improved cash collection from receivables[59] Assets and Liabilities - The company reported a significant reduction in inventory, with current assets decreasing to HKD 175,507,000 from HKD 223,197,000[6] - Non-current assets increased to HKD 34,967,000 from HKD 15,025,000, primarily due to investments in property and equipment[6] - The total equity attributable to the owners of the company rose to HKD 98,158,000 from HKD 81,819,000, marking an increase of 20%[7] - Trade receivables decreased to HKD 29,644 in 2023 from HKD 74,290 in 2022, representing a reduction of about 60%[29] - The total trade receivables balance as of December 31, 2023, was HKD 3,038,000, down from HKD 7,104,000 in 2022, indicating a reduction of about 57.3%[30] - Bank loans and overdrafts totaled HKD 37,050,000 in 2023, down from HKD 52,534,000 in 2022, a decrease of approximately 29.4%[38] - The total assets pledged for bank financing increased to HKD 32,979,000 in 2023 from HKD 14,841,000 in 2022, marking a significant increase of approximately 121.5%[40] Tax and Compliance - The income tax expense for 2023 was HKD 1,847, significantly lower than HKD 4,211 in 2022, reflecting a reduction of about 56%[19] - The group’s applicable tax rate for its subsidiary in China was reduced to 15% in 2023 from 25% in 2022 due to its qualification as a "high-tech enterprise"[19] - The company has complied with the corporate governance code during the year ending December 31, 2023[86] Management and Governance - The management is closely monitoring the impact of geopolitical conflicts and U.S. export restrictions on its financial performance, assessing the effects as minimal[65] - The risk management committee oversees the risk governance structure and hedging policies[94] - The audit committee has reviewed the audited annual results for the year ending December 31, 2023[93] Future Outlook and Plans - The company has no significant future investment or capital asset plans disclosed as of the announcement date[80] - The company has reallocated resources for electronic healthcare products to meet changing customer demands, while anticipating a slowdown in demand for transformer products[62] - A purchase agreement was established for the acquisition of 126,000,000 ordinary shares, representing 63.0% of the company's issued share capital[81] Shareholder Information - The group did not declare any dividends for the years ended December 31, 2023, and 2022[24] - The board does not recommend a final dividend for the year ending December 31, 2023, consistent with the previous year[84] - The annual general meeting is scheduled for June 13, 2024[91] - The company will suspend the transfer of shares from June 6, 2024, to June 13, 2024[92]

Financial Performance - For the nine months ended September 30, 2023, the group's revenue increased by approximately HKD 18.7 million or 7.2% to about HKD 279.6 million, compared to approximately HKD 260.9 million for the same period in 2022[14] - Profit for the nine months ended September 30, 2023, was approximately HKD 15.3 million, compared to HKD 9.0 million for the same period in 2022, reflecting a significant increase[18] - Revenue for the nine months ended September 30, 2023, was HKD 279.6 million, up from HKD 260.9 million in the same period of 2022, representing a growth of approximately 7.5%[25] - Gross profit for the nine months ended September 30, 2023, was HKD 40.9 million, compared to HKD 35.3 million for the same period in 2022, indicating an increase of about 15.0%[25] - The company reported a net profit of HKD 13,946,000 for the nine months ended September 30, 2023, compared to a net profit of HKD 6,611,000 for the same period in 2022, representing a 110.5% increase[33] - For the nine months ended September 30, 2023, the company reported a profit attributable to shareholders of HKD 15,255,000, compared to HKD 9,044,000 for the same period in 2022, representing an increase of 68.5%[48] Cost and Expenses - The sales cost for the nine months ended September 30, 2023, rose by approximately HKD 13.1 million or 5.8% to about HKD 238.7 million, consistent with the revenue growth[14] - Administrative expenses increased by approximately HKD 4.9 million or 27.3% to about HKD 22.9 million for the nine months ended September 30, 2023, primarily due to an increase in R&D expenses of about HKD 3.8 million[17] - Financing costs increased by approximately HKD 0.1 million or 7.2% to about HKD 2.1 million for the nine months ended September 30, 2023, mainly due to rising interest rates[17] - The total employee costs, including directors' remuneration, for the nine months ended September 30, 2023, were HKD 35,277,000, slightly up from HKD 34,956,000 in 2022, reflecting an increase of 0.9%[7] - The company's financing costs for the nine months ended September 30, 2023, totaled HKD 2,151,000, compared to HKD 2,007,000 in 2022, marking an increase of 7.2%[6] - The cost of goods sold for the nine months ended September 30, 2023, was HKD 238,657,000, compared to HKD 225,611,000 in 2022, representing an increase of 5.8%[7] Income and Gains - Other income surged by approximately HKD 1.3 million or 136.8% to about HKD 2.2 million, primarily due to tax incentives from the government related to sustainable product development[15] - Other gains increased by approximately HKD 1.7 million or 70.1% to about HKD 4.1 million, mainly due to investment income from copper options contracts[15] - The company recognized other income of HKD 2,248,000 for the nine months ended September 30, 2023, compared to HKD 950,000 in the same period of 2022, indicating a significant increase[39] Sales and Market Performance - Transformers accounted for approximately 45.6% of total sales for the nine months ended September 30, 2023, down from 55.5% in the same period of 2022[10] - Electronic components represented approximately 52.6% of total sales for the nine months ended September 30, 2023, up from 43.1% in the same period of 2022[10] - The increase in revenue was primarily driven by existing customers increasing orders for electronic health products and electronic components to meet the rising demand for clean energy equipment[10] - Sales of transformers for the nine months ended September 30, 2023, were HKD 127,455,000, a decrease of 11.9% from HKD 144,728,000 in the previous year[33] - Sales of electronic components increased significantly to HKD 146,918,000 for the nine months ended September 30, 2023, up 30.5% from HKD 112,548,000 in 2022[33] - The geographical breakdown of revenue shows that sales in Europe reached HKD 159,307,000 for the nine months ended September 30, 2023, a substantial increase from HKD 94,636,000 in 2022[36] Strategic Initiatives - The company has adopted new hedging policies regarding copper options contracts to better control material costs amid rising shipping costs and demand uncertainties[19] - The company plans to revise its treasury policy to allow for more investments in short-term, low-risk Hong Kong-listed securities, which will not affect operational liquidity[22] - The company remains confident in seizing post-pandemic opportunities for long-term sustainable growth despite various business challenges[23] - The company has changed its principal place of business in Hong Kong effective September 26, 2023, to enhance operational efficiency[29] - The company continues to focus on the design, development, production, and sales of transformers, switch power supplies, electronic healthcare products, and other electronic components[30] Compliance and Governance - The audit committee reviewed the unaudited consolidated financial performance for the nine months ending September 30, 2023, with no objections to the accounting treatments adopted[68] - The risk management committee oversees the risk governance structure and hedging policies, including copper futures activities[70] - The company adhered to the corporate governance code principles and provisions during the reporting period[71] - No additional disclosure obligations under GEM Listing Rules were identified beyond what has been disclosed[72] Future Outlook - The company anticipates a continued slowdown in demand in the upcoming quarters, with expected reductions in order quantities[22] - The company has not yet determined the impact of new accounting standards on its financial performance and position, indicating ongoing assessments[30] Taxation - Income tax expenses decreased by HKD 1.7 million or 53.5% to about HKD 1.5 million for the nine months ended September 30, 2023, primarily due to a reduction in taxable profits[18] - The company incurred a tax expense of HKD 1,471,000 for the nine months ended September 30, 2023, down from HKD 3,165,000 in 2022, indicating a decrease of 53.5%[44] Dividends and Shareholder Information - The company did not declare any dividends for the nine months ended September 30, 2023, consistent with the same period in 2022[46] - The average number of ordinary shares used for calculating basic and diluted earnings per share for the nine months ended September 30, 2023, was 200,000,000 shares[48] - No share buybacks or sales occurred from January 1, 2023, to September 30, 2023[60] - No significant capital commitments were reported for the nine months ending September 30, 2023[62] - No significant contingent liabilities were reported for the nine months ending September 30, 2023[63] - No major events occurred after the reporting period up to the report date[64]

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倚賴該等內容而引致的任何損失承擔任何責任。 KEEN OCEAN INTERNATIONAL HOLDING LIMITED 僑 洋 國 際 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：8070） 截至2023年9月30日止九個月之 第三季度業績公告 香港聯合交易所有限公司（「聯交所」）GEM的特色 GEM的定位，乃為中小型公司提供一個上市的市場，此等公司相比起其他在聯交 所上市的公司帶有較高投資風險。有意投資的人士應了解投資於該等公司的潛在 風險，並應經過審慎周詳的考慮後方作出投資決定。 由於GEM上市公司普遍為中小型公司，在GEM買賣的證券可能會較於主板買賣 之證券承受較大的市場波動風險，同時無法保證在GEM買賣的證券會有高流通量 的市場。 本公告的資料乃遵照聯交所GEM證券上市規則（「GEM上市規則」）而刊載，旨在 提供有關僑洋國際控股有限公司（「本公司」或「我們」）及其附屬公司（統稱「本集團」） 的資料；本公司董事 ...

Financial Performance - The group's revenue increased by approximately HKD 58.4 million or 36.7%, from about HKD 158.9 million for the six months ended June 30, 2022, to approximately HKD 217.3 million for the six months ended June 30, 2023[14]. - The sales cost rose by approximately HKD 51.9 million or 37.4%, from about HKD 138.6 million for the six months ended June 30, 2022, to approximately HKD 190.5 million for the six months ended June 30, 2023[14]. - The gross profit increased by approximately HKD 6.5 million or 31.9%, from about HKD 20.3 million for the six months ended June 30, 2022, to approximately HKD 26.8 million for the six months ended June 30, 2023[14]. - The gross profit margin decreased from 12.8% for the six months ended June 30, 2022, to 12.3% for the six months ended June 30, 2023[14]. - Profit for the six months ended June 30, 2023, was approximately HKD 9.9 million, compared to about HKD 4.7 million for the same period in 2022[17]. - The net profit for the six months ended June 30, 2023, was HKD 9,864,000, up 109.1% from HKD 4,714,000 in the previous year[43]. - For the six months ended June 30, 2023, the company's profit attributable to owners was HKD 9,863,000, compared to HKD 4,714,000 for the same period in 2022, representing an increase of 109.1%[66]. Sales and Revenue Composition - Transformers accounted for approximately 48.0% of the group's sales for the six months ended June 30, 2023, compared to 49.3% for the same period in 2022[10]. - Electronic components represented approximately 50.8% of the group's sales for the six months ended June 30, 2023, compared to 49.7% for the same period in 2022[10]. - Revenue from transformer sales for the six months ended June 30, 2023, was HKD 104,305,000, an increase of 33.0% from HKD 78,424,000 in the same period of 2022[54]. - Customer contract revenue for the six months ended June 30, 2023, reached HKD 217,271,000, up 36.6% from HKD 158,926,000 in the same period of 2022[54]. Costs and Expenses - The total employee cost for the six months was approximately HKD 24.6 million, an increase from HKD 21.5 million in the same period of 2022[34]. - Administrative expenses increased by approximately HKD 4.7 million or 42.6% to about HKD 15.7 million, driven by a rise in R&D expenses of about HKD 3.6 million for new product development[17]. - The company incurred a cost of sales of HKD 190,466,000 for the six months ended June 30, 2023, compared to HKD 138,608,000 in 2022, which is an increase of 37.5%[64]. - Research and development expenses for the six months ended June 30, 2023, were HKD 5,233,000, up from HKD 1,637,000 in 2022, indicating a rise of 219.5%[64]. Financial Position - The group maintained a strong financial position with net assets of approximately HKD 90.4 million as of June 30, 2023, up from about HKD 81.8 million at the end of 2022[23]. - The current ratio improved with cash and cash equivalents of approximately HKD 41.0 million as of June 30, 2023, compared to about HKD 19.3 million at the end of 2022[25]. - The asset-to-liability ratio improved to approximately 0.06 as of June 30, 2023, down from about 0.41 at the end of 2022, mainly due to reduced bank borrowings[25]. - The company's total equity increased to HKD 90,359,000 as of June 30, 2023, from HKD 81,805,000 as of December 31, 2022, reflecting an increase of 10.0%[44]. - The total liabilities decreased to HKD 115,320,000 as of June 30, 2023, from HKD 156,417,000 as of December 31, 2022, a reduction of 26.4%[44]. - The company's retained earnings increased to HKD 61,739,000 as of June 30, 2023, from HKD 51,876,000 as of January 1, 2023, an increase of 19.5%[46]. Cash Flow and Investments - The net cash generated from operating activities for the three months ended June 30, 2023, was HKD 47,715,000, compared to a cash outflow of HKD 562,000 in the same period of 2022[48]. - The company reported a net cash outflow from investing activities of HKD 17,478,000 for the three months ended June 30, 2023[48]. - Capital expenditures for the six months ended June 30, 2023, were approximately HKD 23.7 million, primarily due to the acquisition of properties for office and warehouse use[26]. - The acquisition of two non-residential properties for HKD 21,680,000 was completed on June 15, 2023, aimed at reducing rental risks and improving operational efficiency[39]. Market Outlook and Strategy - The group anticipates a slowdown in demand and a corresponding decrease in order volume over the next two quarters[18]. - The group participated in various trade exhibitions and marketing activities to promote its products further[11]. - The group plans to revise its treasury policy to allow for more investments in short-term, low-risk securities, ensuring that these investments do not affect operational liquidity[21]. - The group plans to revise its treasury policy to allow for investment of up to 30% of cash on hand in short-term, low-risk Hong Kong-listed securities[38]. Governance and Compliance - The company has complied with the corporate governance code during the period from January 1, 2023, to June 30, 2023[95]. - The Audit Committee, established on February 2, 2016, reviewed and approved the group's unaudited consolidated financial performance for the six months ended June 30, 2023[100]. - The Risk Management Committee, also established on February 2, 2016, oversees the risk governance structure and hedging policies, including copper futures purchases[101]. - The company has adopted a series of new hedging policies since September 29, 2021, which the Risk Management Committee is responsible for reviewing and approving[101]. Shareholder Information - As of June 30, 2023, Mr. Zhong Zhiheng holds 126,000,000 shares, representing 63.0% of the company's equity[81]. - Mr. Zhong Tiancheng holds 14,000,000 shares, representing 7.0% of the company's equity[81]. - The weighted average number of ordinary shares used for calculating basic and diluted earnings per share remained at 200,000,000 for both 2023 and 2022[66]. - The company did not declare or propose any dividends for the interim periods ended June 30, 2023, and 2022[67]. - The company does not recommend the payment of an interim dividend for the six months ended June 30, 2023, consistent with the previous year[91].

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倚賴該等內容而引致的任何損失承擔任何責任。 KEEN OCEAN INTERNATIONAL HOLDING LIMITED 僑 洋 國 際 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：8070） 截至2023年6月30日止六個月之 中期業績公告 香港聯合交易所有限公司（「聯交所」）GEM的特色 GEM的定位，乃為中小型公司提供一個上市的市場，此等公司相比起其他在聯交 所上市的公司帶有較高投資風險。有意投資的人士應了解投資於該等公司的潛在 風險，並應經過審慎周詳的考慮後方作出投資決定。 由於GEM上市公司普遍為中小型公司，在GEM買賣的證券可能會較於主板買賣 之證券承受較大的市場波動風險，同時無法保證在GEM買賣的證券會有高流通量 的市場。 本公告的資料乃遵照《香港聯合交易所有限公司GEM證券上市規則》（「GEM上市 規則」）而刊載，旨在提供有關僑洋國際控股有限公司（「本公司」或「我們」）及其附 屬公司（統稱「本集團」）的 ...