輝 煌 科 技 ( 控 股 ) 有 限 公 司 (於開曼群島註冊成立並於百慕連存續之有限公司) 股份代號: 8159 中期報告 2020 輝煌科技（控股）有限公司 香港聯合交易所有限公司（「聯交所」）GEM之特色 GEM之定位乃為相較其他在聯交所上市之公司帶有更高投資風險之中小型公司提供一個上市之 市場。有意投資者應了解投資於該等公司之潛在風險，並應經過審慎周詳考慮後方作出投資決 定。 由於在GEM上市之公司一般為中小型公司，在GEM買賣之證券可能會較於主板買賣之證券承 受更大市場波動風險，同時無法保證在GEM買賣之證券會有高流通量之市場。 香港交易及結算所有限公司及聯交所對本報告之內容概不負責，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報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。 本報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，旨在提供有關輝煌 科技（控股）有限公司（「本公司」，連同其附屬公司統稱「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，確認就其所深 知及確信，本報 ...

GLORY MARK HI-TECH (HOLDINGS) LIMITED 輝 煌 科 技 ( 控 股 ) 有 限 公 司 (Incorporated in the Cayman Islands and continued in Bermuda with limited liability) (於開曼群島註冊成立並於百慕達存續之有限公司) Stock Code 股份代號: 8159 0100 011 10000111 1000010110 11010000 年報 ANNUAL REPORT 2019 STATO TO I 000000101 0011010 CHARACTERISTICS OF GEM OF THE STOCK EXCHANGE OF HONG KONG LIMITED (THE "EXCHANGE") GEM has been positioned as a market designed to accommodate small and mid-sized companies to which a higher investment risk may be attached than ot ...

[Report Overview](index=1&type=section&id=Report%20Overview) [GEM Listing Features and Disclaimer](index=2&type=section&id=GEM%20Listing%20Features%20and%20Disclaimer) The report emphasizes GEM's high-risk nature for investors, with HKEX disclaiming responsibility and directors affirming data accuracy - The GEM market is positioned as a listing platform for small and medium-sized companies with higher investment risks, and investors should understand potential risks and invest cautiously[2](index=2&type=chunk) - Hong Kong Exchanges and Clearing Limited and the Stock Exchange are not responsible for the content of this report, make no representation, and expressly disclaim any liability for any loss[2](index=2&type=chunk) - The company's directors collectively and individually accept full responsibility for the information in this report, confirming its accuracy, completeness, and absence of misleading or fraudulent content[3](index=3&type=chunk) [Financial Performance](index=3&type=section&id=Financial%20Performance) [Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=3&type=section&id=Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) The Group reported a **HK$8,699 thousand loss** for the period, a significant decline from profit, driven by a **29.3% revenue drop** and **56.7% gross profit decrease**, leading to a **1.32 HK cents basic loss per share** Key Data from Consolidated Statement of Profit or Loss and Other Comprehensive Income (For the three months ended March 31) | Metric | 2020 (HK$ thousand) | 2019 (HK$ thousand) | Change (%) | | :--------------------------- | :------------------ | :------------------ | :--------- | | Revenue | 55,390 | 78,369 | -29.3% | | Cost of sales | (50,696) | (67,525) | -24.9% | | Gross profit | 4,694 | 10,844 | -56.7% | | Other income | 854 | 913 | -6.57% | | Profit (Loss) before tax | (8,279) | 1,168 | -809.0% | | Income tax expense | (420) | (723) | -41.9% | | Profit (Loss) for the period | (8,699) | 445 | -2054.8% | | Earnings (Loss) per share | (1.32) HK cents | 0.07 HK cents | -1985.7% | - Total comprehensive income (expense) for the period was **(HK$7,703 thousand)**, compared to **HK$777 thousand** in the same period last year, primarily impacted by the loss for the period[6](index=6&type=chunk) [Notes to the Financial Statements](index=4&type=section&id=Notes%20to%20the%20Financial%20Statements) These notes provide essential background on the company's accounting policies, revenue recognition, segment data, tax treatment, dividends, earnings per share, and reserve changes [General Information and Basis of Presentation](index=4&type=section&id=General%20Information%20and%20Basis%20of%20Presentation) The Company, an investment holding entity listed on GEM since 2002, presents its consolidated financial statements in HKD, with USD as its functional currency, adhering to GEM Listing Rules and HKFRS - The Company is an investment holding company, with its shares listed on GEM on **January 4, 2002**[8](index=8&type=chunk)[9](index=9&type=chunk) - The consolidated financial statements are presented in **Hong Kong dollars**, with the functional currency being **US dollars**, prepared in accordance with GEM Listing Rules and Hong Kong Financial Reporting Standards[8](index=8&type=chunk)[9](index=9&type=chunk) [Significant Accounting Policies](index=4&type=section&id=Significant%20Accounting%20Policies) The unreviewed three-month consolidated financial statements are prepared using historical cost, with investment properties at fair value, consistent with 2019 policies - The financial statements are prepared under the historical cost convention, with investment properties measured at fair value[10](index=10&type=chunk) - Accounting policies are consistent with those in the **2019 annual financial statements**[10](index=10&type=chunk) [Revenue Recognition](index=4&type=section&id=Revenue%20Recognition) Revenue is recognized from connector product sales (net of discounts) and architectural services, based on completion stage or cost recovery, with immediate expense recognition for expected losses - Revenue refers to the sale of connector products (used in computers, consumer electronics, communications, automotive electronics, medical equipment, etc.) and the provision of subcontracting services, recognized after deducting discounts and returns[11](index=11&type=chunk) - Revenue and costs from comprehensive architectural services are recognized based on contract pricing and stage of completion; if results cannot be reliably estimated, they are recognized when costs are likely to be recovered[14](index=14&type=chunk) - When total contract costs are likely to exceed total contract revenue, expected losses are immediately recognized as expenses[15](index=15&type=chunk) [Segment Information](index=5&type=section&id=Segment%20Information) The Group's segments, based on customer type and business, saw reduced sales across OEM, retail, and architectural services, with South Korea experiencing the most significant regional decline Major Customer Information (For the three months ended March 31) | Customer Category | 2020 (HK$ thousand) | 2020 (%) | 2019 (HK$ thousand) | 2019 (%) | | :------------------------------------- | :------------------ | :------- | :------------------ | :------- | | OEM Customers | 28,846 | 52.1 | 42,162 | 53.8 | | Retail Distributors | 20,523 | 37.0 | 26,661 | 34.0 | | Provision of comprehensive architectural services | 6,021 | 10.9 | 9,546 | 12.2 | | **Total** | **55,390** | **100.0**| **78,369** | **100.0**| Sales Analysis by Customer Market Region (For the three months ended March 31) | Region | 2020 (HK$ thousand) | 2020 (%) | 2019 (HK$ thousand) | 2019 (%) | | :-------------------------- | :------------------ | :------- | :------------------ | :------- | | United States of America | 15,112 | 27.3 | 15,439 | 19.7 | | Japan | 13,583 | 24.5 | 18,337 | 23.4 | | South Korea | 9,910 | 17.9 | 24,808 | 31.7 | | People's Republic of China | 7,591 | 13.7 | 9,901 | 12.6 | | Taiwan | 6,225 | 11.2 | 6,835 | 8.7 | | Other regions | 2,969 | 5.4 | 3,049 | 3.9 | | **Total** | **55,390** | **100.0**| **78,369** | **100.0**| [Profit (Loss) Before Tax](index=6&type=section&id=Profit%20%28Loss%29%20Before%20Tax) The Group reported a **HK$8,279 thousand loss before tax** for the period, a significant decline from the prior year's profit, after accounting for depreciation and amortization Composition of Profit (Loss) Before Tax (For the three months ended March 31) | Metric | 2020 (HK$ thousand) | 2019 (HK$ thousand) | | :----------------------- | :------------------ | :------------------ | | Depreciation and amortization | 1,634 | 1,814 | - The loss before tax for the period was **HK$8,279 thousand**, compared to a profit of **HK$1,168 thousand** in the same period last year[6](index=6&type=chunk) [Income Tax Expense](index=6&type=section&id=Income%20Tax%20Expense) Income tax expense decreased to **HK$420 thousand**, primarily China enterprise income tax, with no Hong Kong profits tax or deferred tax provisions due to no assessable profits or significant timing differences - Income tax expense for the period was approximately **HK$420 thousand**, a decrease from **HK$723 thousand** in the same period last year[40](index=40&type=chunk) - The tax provision made refers to China enterprise income tax; no Hong Kong profits tax provision was made as there were no assessable profits in Hong Kong[20](index=20&type=chunk) - No deferred tax provision was made for the period or at the reporting date due to the absence of significant timing differences[20](index=20&type=chunk) [Dividends](index=7&type=section&id=Dividends) The Board does not recommend any dividend payment for the period, consistent with the prior year - The Board does not recommend the payment of any dividend for the period (for the three months ended March 31, 2019: nil)[23](index=23&type=chunk) [Earnings (Loss) Per Share](index=7&type=section&id=Earnings%20%28Loss%29%20Per%20Share) Basic loss per share was **1.32 HK cents**, a decline from prior year's earnings, calculated from a **HK$8,441 thousand loss** attributable to shareholders and **640 million weighted average shares** - Basic loss per share for the period was **1.32 HK cents**, compared to earnings per share of **0.07 HK cents** in the same period last year[6](index=6&type=chunk)[24](index=24&type=chunk) - Loss per share is calculated based on a loss attributable to shareholders of approximately **HK$8,441 thousand** and a weighted average of **640,000,000 shares**[24](index=24&type=chunk) [Reserves](index=7&type=section&id=Reserves) Group reserves changed due to a **HK$8,441 thousand loss** attributable to shareholders and a **HK$996 thousand increase** in exchange fluctuation reserve - Changes in the Group's reserves primarily include a loss attributable to shareholders of approximately **HK$8,441 thousand** (2019: profit of HK$445 thousand) and an increase in exchange fluctuation reserve of approximately **HK$996 thousand** (2019: increase of HK$332 thousand)[25](index=25&type=chunk) [Management Discussion and Analysis](index=8&type=section&id=Management%20Discussion%20and%20Analysis) [Business Review](index=8&type=section&id=Business%20Review) Both the electronics and architectural design businesses experienced significant revenue declines due to the COVID-19 pandemic, leading management to adopt a conservative outlook and implement mitigation strategies [Electronics Business](index=8&type=section&id=Electronics%20Business) The electronics business, impacted by COVID-19 on global demand and China's production, saw revenue decrease by **28.3% to HK$49,369 thousand**, prompting efforts to fulfill orders and launch high-value products - The electronics business primarily engages in the design, manufacturing, and sale of connector products, and is one of the world's leading VGA cable manufacturers[28](index=28&type=chunk) - During the period, the global COVID-19 pandemic adversely affected global consumer demand for electronic products and the Group's production capacity and efficiency in China[28](index=28&type=chunk) Electronics Business Revenue (For the three months ended March 31) | Metric | 2020 (HK$ thousand) | 2019 (HK$ thousand) | Change (%) | | :------------- | :------------------ | :------------------ | :--------- | | Business Revenue | 49,369 | 68,823 | -28.3% | - The Group has made every effort to fulfill orders, maintain close contact with customers, and launch high-value-added products to mitigate negative impacts[28](index=28&type=chunk) [Architectural Design Business](index=9&type=section&id=Architectural%20Design%20Business) The architectural design business, despite prior growth, saw revenue decline by **36.9% to HK$6,021 thousand** due to COVID-19-related project suspensions in China, leading to a conservative outlook - The architectural design business has shown satisfactory revenue growth since its launch in **Q3 2017**, but during the period, it was impacted by the COVID-19 pandemic, leading to the suspension of design projects in China[32](index=32&type=chunk) Architectural Design Business Revenue (For the three months ended March 31) | Metric | 2020 (HK$ thousand) | 2019 (HK$ thousand) | Change (%) | | :------------- | :------------------ | :------------------ | :--------- | | Business Revenue | 6,021 | 9,546 | -36.9% | - Given the adverse and uncertain economic conditions, the directors hold a conservative view on the Group's future quarterly performance[32](index=32&type=chunk) [Financial Review](index=9&type=section&id=Financial%20Review) The Group experienced a **29.3% turnover decrease**, **56.7% gross profit reduction**, and a **5.3 percentage point drop in gross margin** to **8.5%**, driven by pandemic-related production scale and fixed costs, alongside reduced selling expenses, increased administrative expenses, and lower income tax [Turnover](index=9&type=section&id=Turnover) Turnover for the period was approximately **HK$55,390 thousand**, representing a **29.3% decrease** from the prior year Turnover (For the three months ended March 31) | Metric | 2020 (HK$ thousand) | 2019 (HK$ thousand) | Change (%) | | :------- | :------------------ | :------------------ | :--------- | | Turnover | 55,390 | 78,369 | -29.3% | [Gross Profit](index=9&type=section&id=Gross%20Profit) Gross profit decreased by **56.7% to HK$4,694 thousand**, with gross margin falling from **13.8% to 8.5%**, mainly due to reduced production scale and unreduced fixed costs during COVID-19 Gross Profit and Gross Margin (For the three months ended March 31) | Metric | 2020 (HK$ thousand) | 2019 (HK$ thousand) | Change (%) | | :----------- | :------------------ | :------------------ | :--------- | | Gross profit | 4,694 | 10,844 | -56.7% | | Gross margin | 8.5% | 13.8% | -5.3pp | - The decrease in gross margin was primarily due to reduced production scale during the COVID-19 pandemic, while some fixed costs could not be lowered[34](index=34&type=chunk) [Other Income](index=9&type=section&id=Other%20Income) Other income for the period was approximately **HK$854 thousand**, a slight decrease from the prior year Other Income (For the three months ended March 31) | Metric | 2020 (HK$ thousand) | 2019 (HK$ thousand) | Change (%) | | :--------- | :------------------ | :------------------ | :--------- | | Other income | 854 | 913 | -6.57% | [Selling and Distribution Expenses](index=9&type=section&id=Selling%20and%20Distribution%20Expenses) Selling and distribution expenses decreased by **31.4% to HK$1,466 thousand**, primarily attributable to reduced revenue during the period Selling and Distribution Expenses (For the three months ended March 31) | Metric | 2020 (HK$ thousand) | 2019 (HK$ thousand) | Change (%) | | :------------------------- | :------------------ | :------------------ | :--------- | | Selling and distribution expenses | 1,466 | 2,138 | -31.4% | - The decrease in selling and distribution expenses was due to reduced revenue during the period[36](index=36&type=chunk) [Administrative Expenses](index=9&type=section&id=Administrative%20Expenses) Administrative expenses increased by approximately **23.0% to HK$10,163 thousand** for the period Administrative Expenses (For the three months ended March 31) | Metric | 2020 (HK$ thousand) | 2019 (HK$ thousand) | Change (%) | | :----------------- | :------------------ | :------------------ | :--------- | | Administrative expenses | 10,163 | 8,261 | +23.0% | [Finance Costs](index=9&type=section&id=Finance%20Costs) The Group incurred no finance costs during the current or prior period - The Group incurred no finance costs during the period or for the three months ended March 31, 2019[38](index=38&type=chunk) [Income Tax Expense](index=10&type=section&id=Income%20Tax%20Expense) Income tax expense for the period was approximately **HK$420 thousand**, a decrease from the prior year Income Tax Expense (For the three months ended March 31) | Metric | 2020 (HK$ thousand) | 2019 (HK$ thousand) | Change (%) | | :--------------- | :------------------ | :------------------ | :--------- | | Income tax expense | 420 | 723 | -41.9% | [Equity and Corporate Governance](index=10&type=section&id=Equity%20and%20Corporate%20Governance) [Directors' and Chief Executive's Interests](index=10&type=section&id=Directors%27%20and%20Chief%20Executive%27s%20Interests) As of March 31, 2020, Mr. Wang Lifeng, through PT Design Group Holdings Limited, was the largest single shareholder, holding **55.57%** of the issued share capital, with no other directors or executives holding interests Directors' and Chief Executive's Interests in Shares (As at March 31, 2020) | Name of Director/Entity | Capacity | Number of issued ordinary shares held | Percentage of the Company's issued share capital | | :------------------------------- | :-------------------------- | :------------------------------------ | :----------------------------------------------- | | Mr. Wang Lifeng | Interest in controlled corporation | 355,620,000 | 55.57% | | Wise Thinker Holdings Limited | Interest in controlled corporation | 355,620,000 | 55.57% | | PT Design Group Holdings Limited | Beneficial owner | 355,620,000 | 55.57% | - Mr. Wang Lifeng indirectly wholly owns **355,620,000 shares** through PT Design Group Holdings Limited[41](index=41&type=chunk) - Save as disclosed above, no other directors, chief executives, or their associates held any interests or short positions in any shares or related shares[42](index=42&type=chunk) [Substantial Shareholders' Interests](index=11&type=section&id=Substantial%20Shareholders%27%20Interests) As of March 31, 2020, Mr. Pang Kwok Sai, through Modern Wealth Assets Limited, held **11.63%** of the Company's issued share capital, making him a substantial shareholder Substantial Shareholders' Interests in Shares (As at March 31, 2020) | Name of Shareholder | Capacity | Number of issued ordinary shares held | Percentage of the Company's issued share capital | | :--------------------------- | :-------------------------- | :------------------------------------ | :----------------------------------------------- | | Mr. Pang Kwok Sai | Interest in controlled corporation | 74,403,000 | 11.63% | | Modern Wealth Assets Limited | Beneficial owner | 74,403,000 | 11.63% | - Mr. Pang Kwok Sai is deemed to be interested in **74,403,000 shares** held by his wholly-owned company, Modern Wealth Assets Limited[45](index=45&type=chunk) [Share Option Scheme](index=11&type=section&id=Share%20Option%20Scheme) Adopted on December 13, 2001, the share option scheme incentivizes directors and employees, limiting grants to **30% of issued shares** (1% per individual) with specific shareholder approval for substantial shareholders, and an exercise price based on market value or nominal value, with no options granted to date - The Company adopted a share option scheme on **December 13, 2001**, to incentivize directors and eligible employees[46](index=46&type=chunk) - The total number of shares involved in share options shall not exceed **30%** of the issued shares, and grants to individuals shall not exceed **1%**[46](index=46&type=chunk) - The exercise price is determined by the directors and shall not be less than the highest of the closing price of the shares on the date of grant, the average closing price for the five business days immediately preceding the date of grant, and the nominal value of the shares[48](index=48&type=chunk) - No share options have been granted by the Company under the scheme since its adoption[49](index=49&type=chunk) [Arrangements for Share Transactions](index=12&type=section&id=Arrangements%20for%20Share%20Transactions) Apart from the share option scheme, no arrangements were made during the period for directors to benefit from purchasing shares or debentures of the Company or other entities - Save for the share option scheme, neither the Company nor any of its subsidiaries entered into any arrangements during the period that would enable directors to acquire benefits by purchasing shares or debentures of the Company or any other body corporate[50](index=50&type=chunk) [Public Float and Compliance](index=12&type=section&id=Public%20Float%20and%20Compliance) The Company maintained a sufficient public float and its directors confirmed compliance with GEM Listing Rules and the code of conduct for securities transactions - The Company maintained a sufficient public float throughout the period[51](index=51&type=chunk) - The directors confirmed that they have complied with the required standards of dealings set out in Rules **5.48 to 5.67** of the GEM Listing Rules and the code of conduct for securities transactions by directors adopted by the Company throughout the period[53](index=53&type=chunk) [Interests in Competing Businesses](index=13&type=section&id=Interests%20in%20Competing%20Businesses) Mr. Wang Lifeng and former directors hold interests in architectural design entities, including PT Design Consulting, PT Shenzhen, and Shanghai PT, which compete with the Group, necessitating established conflict management mechanisms Directors' and Former Directors' Interests in Competing Businesses (As at March 31, 2020) | Name of Director and Former Director of the Company | Name of entity considered to be competing or potentially competing with the Group's business | Description of competing business | Nature of interest

Financial Performance - For the three months ended September 30, 2019, the company reported revenue of HKD 83,252,000, a decrease of 25.7% compared to HKD 112,088,000 in the same period last year[10]. - The gross profit for the nine months ended September 30, 2019, was HKD 39,474,000, down 17.5% from HKD 47,563,000 in the previous year[10]. - The net profit attributable to the owners of the company for the three months ended September 30, 2019, was HKD 1,716,000, a significant decrease of 88.7% from HKD 15,221,000 in the same period last year[10]. - The company reported a basic earnings per share of HKD 0.27 for the three months ended September 30, 2019, compared to HKD 2.38 in the same period last year[10]. - Total comprehensive income for the three months ended September 30, 2019, was HKD 1,160,000, down from HKD 14,820,000 in the same period last year[10]. - The company's profit attributable to shareholders for the nine-month period was approximately HKD 7.3 million, a decrease from HKD 20.2 million in the previous year, primarily due to the adverse effects of the US-China trade war[42]. Revenue Breakdown - The revenue from the electronic products business decreased by 16.5% year-on-year, contributing approximately HKD 218.3 million for the nine-month period compared to HKD 261.3 million in the previous year[33]. - The overall design and architectural design business generated revenue of approximately HKD 43.7 million, a significant increase of about 95.0% compared to HKD 22.4 million in the same period last year[35]. Expenses and Income - Total other income for the nine-month period was approximately HKD 3.4 million, compared to HKD 2.7 million in the previous year[37]. - Administrative expenses increased to approximately HKD 27.2 million from HKD 21.5 million in the previous year, reflecting the growth in the overall design and architectural design business[39]. - The company incurred income tax expenses of approximately HKD 2.9 million for the nine-month period, up from HKD 2.0 million in the previous year[41]. Equity and Dividends - The company’s total equity as of September 30, 2019, was HKD 124,611,000, an increase from HKD 116,055,000 at the end of the previous year[13]. - The company declared dividends of HKD 9,600,000 during the period, impacting retained earnings[13]. - The company did not recommend any dividend payment for the nine-month period, consistent with the previous year[28]. Management and Outlook - The management expressed optimism about future growth despite the current decline in revenue and profit margins[10]. - The board maintains a conservative outlook for the company's performance in the last quarter of 2019, closely monitoring market conditions and developments related to the US-China trade war[35]. Compliance and Governance - The company is committed to maintaining compliance with GEM listing rules and Hong Kong Financial Reporting Standards[16]. - The company has complied with the corporate governance code as per GEM Listing Rules, with a minor deviation regarding the term of non-executive directors[65]. - The company has confirmed compliance with trading standards for directors throughout the nine-month period[53]. Shareholding and Directors - As of September 30, 2019, Mr. Wang holds 355,620,000 shares, representing 55.57% of the issued share capital[47]. - Mr. Pang holds 74,403,000 shares, accounting for 11.63% of the issued share capital[47]. - The company has not granted any share options under the incentive scheme since its adoption[51]. - There are no disclosed interests or short positions in the company's shares by directors or key executives as of September 30, 2019[48]. - The executive directors include Mr. Wang Lifeng, Mr. Huang Zhen, Mr. He Yongyi, Mr. Pang Guoxi, Mr. Kong Lihang, and Mr. Zhao Guoxing, along with independent non-executive directors[69]. Audit and Reporting - The audit committee consists of four members, including independent non-executive director Mr. Liu Kejie as chairman, responsible for reviewing and supervising the company's financial reports and internal control procedures[68]. - The report for the third quarter performance is unaudited but has been reviewed by the audit committee[68]. - The report will be published on the GEM website and the company's website for at least seven days from the date of publication[70]. - In case of any discrepancies between the Chinese and English versions of the report, the English version shall prevail[71].

輝 煌 科 技 ( 控 股 ) 有 限 公 司 (於開曼群島註冊成立並於百慕進存續之有限公司) 股份代號: 8159 中 期 報 售 2019 · · ● ● . @ 香港聯合交易所有限公司（「聯交所」）GEM之特色 GEM之定位乃為相較其他在聯交所上市之公司帶有更高投資風險之公司提供一個上市之市場。 有意投資者應了解投資於該等公司之潛在風險，並應經過審慎周詳考慮後方作出投資決定。 GEM之較高風險及其他特色表示GEM較適合專業及其他資深投資者。 由於GEM上市公司之新興性質使然，在GEM買賣之證券可能會較於主板買賣之證券承受更大 市場波動風險，同時無法保證在GEM買賣之證券會有高流通量之市場。 香港交易及結算所有限公司及聯交所對本報告之內容概不負責，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報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。 1 輝煌科技（控股）有限公司 本報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，旨在提供有關輝煌 科技（控股）有限公司（「本公司」，連同其附屬公司統稱「本集團」）的資料；本公司董事（「董 事」）願就本報告的 ...

Financial Performance - Revenue for the three months ended March 31, 2019, was HKD 78,369,000, a decrease of 6.5% from HKD 83,550,000 in the same period of 2018[5] - Gross profit for the same period was HKD 10,844,000, compared to HKD 9,219,000 in 2018, reflecting an increase of 17.6%[5] - The net profit for the period was HKD 445,000, significantly up from HKD 144,000 in the previous year, marking a growth of 209.7%[5] - The company reported a basic earnings per share of HKD 0.07, compared to HKD 0.01 in the same period last year[5] - The total comprehensive income for the period was HKD 777,000, down from HKD 1,212,000 in the same period of 2018[5] - Revenue from the connection products business was approximately HKD 68,823,000, a decrease of 14.4% compared to HKD 80,417,000 in the same period last year[24] - Revenue from the comprehensive construction services business was approximately HKD 9,546,000, a significant increase of about 204.8% compared to HKD 3,132,000 in the same period last year[25] - Other income for the period was approximately HKD 913,000, down from HKD 1,317,000 in the same period last year[29] Revenue Sources - Sales to OEM customers accounted for 53.8% of total revenue, down from 64.6% in 2018, while retail distributors contributed 34.0%, up from 31.7%[13] - Revenue from the Korean market was HKD 24,808,000, representing 31.7% of total sales, a decrease from 44.0% in the previous year[14] Expenses and Financial Position - Administrative expenses rose to approximately HKD 8,260,000, an increase of about 9.3% from HKD 7,557,000 in the previous year[31] - The effective tax expense for the period was approximately HKD 723,000, compared to HKD 648,000 in the same period last year[33] - The company incurred depreciation and amortization expenses of HKD 1,814,000, slightly down from HKD 1,988,000 in the previous year[16] - The company maintained a strong financial position with net current assets of approximately HKD 42,700,000 and cash and bank balances of about HKD 57,000,000 as of March 31, 2019[35] - The company has no interest-bearing borrowings as of March 31, 2019, maintaining a current ratio of 1.31[35] Corporate Governance - The company adhered to the corporate governance code as per GEM listing rules, with a noted deviation regarding the term of independent non-executive directors[57] - The audit committee, consisting of four members, reviewed the financial reports and internal control procedures, although the first-quarter results were unaudited[58] - No directors or controlling shareholders had interests in competing businesses during the period, ensuring no conflicts of interest[52] - The company has established a governance framework to manage potential conflicts of interest among its directors[51] - The company confirmed compliance with the trading standards set forth in the GEM listing rules during the reporting period[48] Dividends and Share Activity - The company did not recommend any dividend payment for the period, consistent with the previous year[20] - There were no purchases, sales, or redemptions of shares by the company or its subsidiaries during the period[56] Other Information - The company has not disclosed any new product developments or market expansion strategies in the provided documents[55] - There were no acquisitions or mergers reported during the period[55] - The company has a priority right to undertake architectural design services unless otherwise requested by independent developers[51] - The company did not recognize any deferred tax liabilities during the period due to the absence of significant timing differences[19] - The company reported a first-quarter performance with no specific financial figures disclosed in the provided documents[55]

Financial Performance - The company recorded revenue of HKD 388,770,000 for the year 2018, representing a growth of approximately 3.1% compared to 2017[21] - The profit attributable to the owners of the company was HKD 24,500,000, an increase of 44.1% from HKD 17,000,000 in 2017[21] - The overall design and architectural design business saw revenue and profit increase to HKD 44,800,000 and HKD 13,500,000 respectively, compared to HKD 10,400,000 and HKD 4,500,000 in 2017[21] - Gross profit for the group in 2018 was approximately HKD 66.5 million, representing a growth of about 24.3% compared to HKD 53.5 million in 2017[39] - The group recorded other income of approximately HKD 3.5 million in 2018, down from HKD 4.3 million in 2017[40] - The company reported a significant increase in revenue, achieving a total of $1.2 billion, representing a 15% year-over-year growth[58] - The company reported a net profit margin of 12%, up from 10% in the previous year, reflecting improved operational efficiency[58] - The company reported a decrease in other income to HKD 3,451,000 from HKD 4,348,000 in the previous year[199] - Administrative expenses rose to HKD 32,460,000, compared to HKD 29,042,000 in 2017[199] Business Segments - The company anticipates significant uncertainty for its electronic products business in 2019 due to the ongoing US-China trade war[21] - The revenue and profit from the electronic products business decreased in the fourth quarter of 2018[21] - In 2018, the electronic products business generated approximately HKD 344 million in revenue and HKD 14.9 million in profit attributable to the company's owners[33] - The overall design and architectural design business contributed approximately HKD 44.8 million in revenue and HKD 9.6 million in profit attributable to the company's owners in 2018[38] - The board is not optimistic about the electronic products business due to uncertainties from the US-China trade war and expects the appreciation of the RMB to negatively impact performance[50] - The group plans to continue focusing on the overall design and architectural design business in 2019, expecting it to contribute to revenue if there are no signs of a downturn in the construction industry[49] Shareholder Information - The board proposed a final dividend of HKD 0.3 per share, down from HKD 1.5 per share in 2017, subject to shareholder approval[23] - The company proposed a final dividend of HKD 0.3 per share, totaling HKD 1,920,000, to be paid to shareholders listed on May 20, 2019[77] - The company’s dividend policy must comply with relevant laws and regulations, considering financial performance, operational needs, and future development plans[169] - The board will consider various factors, including profitability and liquidity needs, when recommending any dividend payments[169] Financial Position - The company maintained a strong financial position with cash on hand of approximately HKD 65,100,000 and no outstanding bank borrowings as of December 31, 2018[22] - As of December 31, 2018, the group's current assets, bank balances, and cash amounted to approximately HKD 41 million, HKD 65.1 million, and HKD 120 million, respectively[48] - The group has no interest-bearing debt as of December 31, 2018, consistent with the previous year[48] - The company had distributable reserves amounting to HKD 5,988,000[83] Corporate Governance - The company has complied with the corporate governance code as per GEM listing rules, with no specific term for non-executive directors' appointments[129] - All independent non-executive directors have confirmed their independence according to GEM Listing Rules[98] - The board consists of ten members, including six executive directors and four independent non-executive directors[131] - The company emphasizes a clear separation of roles between the chairman and the CEO to ensure balanced power distribution[134] - The remuneration committee is composed of four independent non-executive directors and three executive directors, focusing on the remuneration policies for directors and senior management[139] Strategic Initiatives - The company plans to focus on developing its overall design and architectural design business segments to enhance shareholder returns in the coming year[22] - New product launches are anticipated to contribute an additional $200 million in revenue over the next fiscal year[58] - The company is investing $50 million in research and development for new technologies aimed at enhancing product efficiency[58] - Market expansion plans include entering three new international markets by the end of the fiscal year, projected to increase market share by 5%[58] - The company is considering strategic acquisitions to bolster its product offerings, with a budget of $100 million allocated for potential deals[58] Risk Factors - The company expressed gratitude to customers, suppliers, business partners, employees, and shareholders for their continued support[23] - The company has adopted various environmental policies to enhance environmental quality, including the use of recyclable materials and energy-efficient equipment[71] - The independent auditor's report highlights the importance of management's judgment in estimating contract revenue[178] Audit and Compliance - The financial statements were audited by Deloitte Touche Tohmatsu, who is eligible and willing to be reappointed at the upcoming annual general meeting[124] - The auditor has issued an unqualified opinion on the group's disclosed continuing connected transactions[108] - The audit committee held four meetings during the year, reviewing financial announcements and internal controls[147] Other Information - The group recognized contract revenue of HKD 44,780,000 as of December 31, 2018[178] - Trade receivables and contract assets amounted to approximately HKD 72,215,000 and HKD 5,630,000, representing about 26% and 2% of the group's total assets respectively[181] - An additional impairment loss of HKD 2,140,000 was recognized for trade receivables during the year ended December 31, 2018[181]