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佈的內容概不 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 佈 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。 獨立非執行董事 錢小瑜女士 張偉賢先生 郭恩生先生 HONG WEI (ASIA) HOLDINGS COMPANY LIMITED 8191 董事名單與其角色和職能 鴻 偉（亞 洲）控 股 有 限 公 司（「本公司」）董 事 會（「董事會」）成 員（「董 事」）載 列 如 下。 執行董事 黃長樂先生 （主 席） 黃建澄先生 董 事 會 設 立 三 個 委 員 會。下 表 提 供 各 董 事 會 成 員 在 該 等 委 員 會 中 所 擔 任 的 職 位。 | | 審核委員會 | 薪酬委員會 | 提名委員會 | | --- | --- | --- | --- | | 黃長樂先生 | | M | C | | 黃建澄先生 | | | | | 郭恩生先生 | M | C | M | | 錢小 ...

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佈的內容概不 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 佈 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。 HONG WEI (ASIA) HOLDINGS COMPANY LIMITED 董事辭任 – 1 – 鴻 偉（亞 洲）控 股 有 限 公 司（「本公司，連 同 其 附 屬 公 司 統 稱 為「本集團」）董 事（「董 事」）會（「董事會」）謹 此 宣 佈，劉 加 勇 先 生（「劉先生」）已 提 出 辭 任 執 行 董 事 及 本 集 團 財 務 總 監，自 二 零 二 五 年 八 月 十 一 日 起 生 效，以 便 有 更 多 時 間 處 理 其 他 業 務。 劉 先 生 已 確 認，彼 與 董 事 會 之 間 並 無 任 何 意 見 分 歧，且 並 不 知 悉 任 何 有 關 彼 辭 任 之 事 宜 須 提 請 本 公 司 股 東 或 香 港 聯 合 交 易 所 有 限 公 司 垂 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | 截至月份: | 2025年7月31日 | 狀態: 新提交 | | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | 公司名稱: | 鴻偉(亞洲)控股有限公司 | | | 呈交日期: | 2025年8月1日 | | | I. 法定/註冊股本變動 不適用 | | | FF301 第 1 頁 共 10 頁 v 1.1.1 FF301 II. 已發行股份及/或庫存股份變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 08191 | 說明 | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 52,656,186 | | 0 | | 52,656,186 | | 增加 / 減少 (-) | | | 10,531, ...

GEM Listing and Company Overview - GEM is designed for companies with higher investment risks compared to other listed companies on the Hong Kong Stock Exchange, making it more suitable for professional and experienced investors[2]. - Companies listed on GEM are generally small to medium-sized, which may experience greater market volatility and lower liquidity compared to those on the main board[2]. - The company, Hongwei (Asia) Holdings Limited, was founded in 2003 and has been involved in the engineered wood products industry for approximately 27 years[8]. - The company has a registered office located in Hong Kong and its main operating site in Shaoguan, Guangdong Province, China[6]. Management and Governance - The executive director and CEO, Mr. Huang, holds 21,500,000 shares in the company, indicating a significant personal investment[8]. - The financial director, Mr. Liu, has over 30 years of experience in accounting and financial management, contributing to the company's strategic and operational decisions[9]. - The independent non-executive director, Mr. Zhang, has over 28 years of experience in audit, business development, corporate finance, and financial management[12]. - The company is committed to adhering to the GEM Listing Rules and ensuring compliance with all regulatory requirements[3]. - The company has maintained compliance with the corporate governance code since its listing on the GEM in 2014, continuously reviewing and enhancing its internal controls and procedures[24]. - The company has complied with GEM Listing Rules regarding independent non-executive directors, maintaining three such directors throughout the year ending December 31, 2024[27]. - The board of directors has held 4 meetings in the year, with all members attending all meetings, ensuring strong governance and oversight[28]. - The company has adopted a board diversity policy since March 2014, focusing on merit-based selection while considering various factors such as gender, age, and professional experience[33]. - The board is responsible for leading and controlling the group, focusing on overall strategy, budget approval, and performance monitoring[35]. - The chairman and CEO roles are held by the same individual, which the board believes does not undermine the balance of power and authority within the company[31]. - The company plans to provide ongoing professional development for directors, including training on the latest amendments to GEM Listing Rules[34]. - The board has established committees to assist in fulfilling its responsibilities, including the audit, remuneration, and nomination committees[35]. - The company has a nomination committee to oversee the appointment and re-election of directors, ensuring compliance with organizational bylaws[32]. - All directors have participated in training related to the latest amendments to GEM Listing Rules, enhancing their knowledge and skills[34]. Financial Performance - The report includes a comprehensive financial summary over the past five years, providing insights into the company's performance trends[4]. - The revenue of the particleboard segment decreased from approximately HKD 481.81 million to approximately HKD 314.38 million, a decline of about 35% for the year ended December 31, 2024, primarily due to reduced production and sales volume[63]. - The company reported a loss attributable to owners of approximately HKD 46.28 million for the year ended December 31, 2024, compared to a profit of approximately HKD 1.45 million for the previous year[72]. - The total comprehensive loss attributable to owners amounted to approximately HKD 58.70 million for the year ended December 31, 2024, compared to approximately HKD 3.08 million for the previous year[73]. - Total revenue for the year ended December 31, 2024, was HKD 314,378,000, a decrease of 34.7% compared to HKD 481,810,000 in 2023[158]. - Gross profit for 2024 was HKD 33,934,000, down 59.6% from HKD 83,965,000 in 2023[158]. - Basic and diluted loss per share for 2024 was HKD 87.89, compared to earnings of HKD 2.76 per share in 2023[158]. Operational Challenges - Global trade tensions and the COVID-19 pandemic have impacted the company's sales activities, with local demand for consumer goods remaining weak[21]. - The company is implementing strict cost control measures to enhance production and provide quality services to customers while seeking opportunities to improve production lines and reduce costs[21]. - The macroeconomic outlook for 2024 remains challenging, with expectations of slow economic growth in major developed economies and a weak financing environment in China[95]. - The company faces operational risks related to biological assets, including regulatory, supply-demand, and climate risks[77][78][79]. - The domestic market demand is shifting from quality-oriented to cost-oriented, prompting the company to seek opportunities to improve and change its production lines to align with market changes[96]. Environmental and Social Responsibility - The company is committed to promoting sustainable development and social responsibility, which is crucial for creating long-term value for shareholders and stakeholders[22]. - The company is committed to improving its environmental management systems and controlling its forestry assets to contribute to carbon neutrality[96]. - The company has complied with environmental protection laws and regulations in China, ensuring its production facilities meet relevant environmental requirements[133]. - The company has completed the application for formaldehyde-free certification for its products with the California Air Resources Board[133]. - Charitable and other donations by the company amounted to approximately HKD 115,000 for the year, a decrease from HKD 520,000 in 2023[100]. Audit and Compliance - The independent auditor confirmed their responsibility to express an opinion on the financial statements prepared by the board, ensuring they fairly reflect the group's financial position[44]. - The audit committee oversees the risk management and internal control systems, ensuring regular reviews of major business risks and control measures[47]. - The audit identified the valuation of biological assets and the recoverable amount of right-of-use assets as key audit matters due to significant judgments and assumptions involved[141]. - The audit procedures included evaluating the independent valuers' competence and assessing the appropriateness of the valuation methods and assumptions used[143]. Future Outlook and Strategy - The company plans to monitor domestic policy changes closely and implement cost-saving measures while exploring the feasibility of developing more particleboard sizes and specifications[95]. - The company is exploring new business strategies to better utilize forestry resources due to significant reductions in timber harvesting quotas since 2018, in line with China's environmental policies[96]. - The company has no significant investments or capital asset plans, except for the purchase of new machinery and ongoing construction projects[89]. Shareholder and Director Information - The total compensation for directors and senior management ranged from 0 to HKD 1,000,000 for the year ending December 31, 2024[29]. - The company has adopted a stock option plan as an incentive for directors and eligible employees[122]. - There are no reported interests or conflicts of interest from directors or major shareholders in competing businesses as of December 31, 2024[129]. - As of December 31, 2024, the beneficial ownership of Mr. Huang Chang-lek and Mrs. Zhang Ya-jun in the company is 21,500,000 shares each, representing approximately 40.83% of the total shares[125].

Financial Performance - For the fiscal year ending December 31, 2024, the company reported total revenue of HKD 314,378,000, a decrease of 34.7% compared to HKD 481,810,000 in the previous year[4] - The gross profit for the same period was HKD 33,934,000, down 59.6% from HKD 83,965,000 in the prior year[4] - The company recorded a loss before tax of HKD 52,783,000, compared to a loss of HKD 4,477,000 in the previous year, indicating a significant decline in performance[4] - Total comprehensive loss for the year amounted to HKD 58,695,000, compared to a loss of HKD 3,081,000 in the previous year[5] - The company reported a basic and diluted loss per share of HKD 87.89, compared to earnings of HKD 2.76 in the previous year[5] - The group reported revenue from particle board sales of HKD 314,378 thousand for the year ending December 31, 2024, down from HKD 481,810 thousand in 2023, representing a decrease of approximately 34.7%[17] - The particle board segment generated a loss of HKD 16,443 thousand for the year ending December 31, 2024, compared to a profit of HKD 27,934 thousand in 2023, indicating a significant decline in performance[22][23] - The total comprehensive loss before tax for the group was HKD 52,783 thousand for the year ending December 31, 2024, compared to a loss of HKD 4,477 thousand in 2023, reflecting a worsening financial position[22][23] - The group recorded a loss attributable to owners of the company of approximately HKD 46.28 million, compared to a profit of approximately HKD 1.45 million for the year ended December 31, 2023[45] Assets and Liabilities - Non-current assets decreased to HKD 363,117,000 from HKD 399,843,000, reflecting a decline of 9.2%[6] - Current assets increased slightly to HKD 381,432,000 from HKD 374,475,000, showing a growth of 1.3%[6] - Trade payables increased significantly to HKD 32,059,000 from HKD 19,140,000, representing a rise of 67.5%[6] - Non-current liabilities increased from HKD 223,184 thousand in 2023 to HKD 201,404 thousand in 2024, reflecting a decrease of approximately 9.7%[7] - The company's net asset value rose from HKD 192,708 thousand in 2023 to HKD 251,403 thousand in 2024, representing an increase of about 30.4%[7] - Total liabilities increased to HKD 551,841 thousand from HKD 522,915 thousand, with reportable segment liabilities for the particleboard segment rising to HKD 136,614 thousand from HKD 132,621 thousand[24] Cash Flow and Financial Position - The company's cash and cash equivalents rose to HKD 8,428,000 from HKD 7,802,000, an increase of 8.0%[6] - The company’s borrowings from banks and others rose from HKD 135,645 thousand in 2023 to HKD 170,301 thousand in 2024, an increase of approximately 25.5%[7] - The company reported a capital reserve deficit of HKD (78,178) thousand in 2023, which improved to HKD (19,483) thousand in 2024, showing a significant recovery[7] - The current ratio as of December 31, 2024, is maintained at 1.2 times, consistent with the ratio for 2023[57] - The debt-to-asset ratio as of December 31, 2024, is 1.0 times, an increase from 0.8 times in 2023[58] Operational Efficiency and Strategy - The company has indicated a focus on improving operational efficiency and exploring new market opportunities in the upcoming fiscal year[4] - The company aims to improve its production capacity utilization by expanding its customer base and offering a wider variety of sizes and thicknesses of particleboard[55] - The company is evaluating the feasibility of different business strategies to better utilize its forestry assets in response to regulatory and environmental risks[50] - The company is committed to providing competitively priced, quality products to maintain its competitive edge in the particleboard market[49] Market Conditions and Challenges - The company faced negative impacts on export markets due to ongoing US-China tensions and global capital market volatility, affecting domestic consumer demand for particleboard[33] - The macroeconomic outlook for 2024 remains challenging, with expectations of slow economic growth in major developed economies and a weak financing environment[67] - The group is closely monitoring domestic policy changes and is committed to proactive cost-saving measures, including product pricing negotiations and exploring the feasibility of developing new specifications for particleboard[67] Employee and Compensation - As of December 31, 2024, the group employed a total of 219 employees, a decrease from 223 employees in 2023[65] - Employee compensation for the year ended December 31, 2024, was approximately HKD 7.18 million, compared to HKD 10.92 million for the year ended December 31, 2023[65] - Employee benefit expenses decreased to HKD 7,182 thousand from HKD 10,924 thousand, with total depreciation expenses increasing to HKD 44,881 thousand from HKD 42,596 thousand[26] Governance and Compliance - The company has adhered to the corporate governance code since its listing on the GEM in 2014, maintaining high standards of business conduct and governance[71] - The board believes that the dual role of the chairman and CEO held by Mr. Wong will not undermine the balance of power and authority between the board and management[72] - The annual performance for the year ending December 31, 2024, has been reviewed by the audit committee[74] - The auditor has confirmed that the financial statements for the year ending December 31, 2024, are consistent with the group's financial reports[75] Future Outlook - The production line for bamboo particleboard is expected to achieve greater output in 2025, contributing to higher profitability due to limited market supply[33] - The company anticipates that the production capacity of its bamboo particleboard line will gradually increase, addressing the current low demand in the domestic market[33] - The group has no significant investments or capital asset plans, except for the purchase of new machinery and ongoing construction projects[63]

Financial Performance - For the six months ended June 30, 2024, the company's revenue was approximately HKD 168,677,000, a decrease of about 18.8% compared to HKD 207,853,000 for the same period in 2023 due to production equipment undergoing technical upgrades[4]. - The gross profit for the same period was approximately HKD 28,902,000, down about 27.6% from HKD 39,906,000 in the previous year[4]. - The profit attributable to the owners of the company for the six months ended June 30, 2024, was approximately HKD 10,816,000, compared to HKD 11,506,000 for the same period in 2023[4]. - The total comprehensive income for the period was HKD 9,365,000, significantly lower than HKD 18,323,000 in the prior year[10]. - Basic and diluted earnings per share for the six months ended June 30, 2024, were 20.54 HK cents, compared to 21.85 HK cents in the same period last year[10]. - The total comprehensive income attributable to the owners of the company for the six months ended June 30, 2024, was approximately HKD 9,365,000, a decrease from HKD 18,323,000 in the same period last year, primarily due to foreign exchange losses[69]. Assets and Liabilities - Non-current assets as of June 30, 2024, totaled HKD 396,193,000, slightly down from HKD 399,843,000 as of December 31, 2023[13]. - Current assets increased to HKD 408,358,000 from HKD 374,475,000 at the end of 2023, driven by an increase in trade receivables[13]. - Current liabilities rose to HKD 362,639,000 from HKD 321,511,000, primarily due to higher trade payables[14]. - The net asset value attributable to the owners of the company was HKD 260,769,000 as of June 30, 2024, compared to HKD 251,403,000 at the end of 2023[14]. - The company’s total equity as of June 30, 2024, was HKD 260,769,000, compared to HKD 272,810,000 at the end of June 2023[15]. - The company reported trade payables of HKD 36,436,000 as of June 30, 2024, significantly higher than HKD 19,140,000 as of December 31, 2023, indicating increased operational liabilities[43]. Cash Flow and Financing - The net cash generated from operating activities for the six months ended June 30, 2024, was HKD 3,909,000, a significant improvement from a net cash outflow of HKD 59,202,000 in the previous year[16]. - The financing activities resulted in a net cash outflow of HKD 17,395,000 for the six months ended June 30, 2024, compared to a net cash inflow of HKD 72,496,000 in the previous year[16]. - As of June 30, 2024, bank borrowings due within one year amounted to HKD 148,464,000, an increase of 23.3% from HKD 120,417,000 as of December 31, 2023[44]. - Total borrowings as of June 30, 2024, were HKD 322,985,000, slightly up from HKD 318,570,000 as of December 31, 2023[44]. - The company has secured bank borrowings totaling approximately HKD 164,867,000 as of June 30, 2024, backed by personal guarantees from key individuals[48]. Segment Performance - For the six months ended June 30, 2024, the reported revenue from the particleboard segment was HKD 168,677,000, a decrease of 18.9% compared to HKD 207,853,000 for the same period in 2023[22][24]. - The particleboard segment reported a profit before tax of HKD 24,482,000, down from HKD 28,177,000 in the previous year, reflecting a decline of 13.0%[22][23]. - Depreciation for the particleboard segment was HKD 21,177,000 for the six months ended June 30, 2024, compared to HKD 21,501,000 in the previous year, reflecting a decrease of 1.5%[22][23]. Expenses and Cost Management - Selling and distribution expenses decreased by approximately 24.6% from about HKD 14,490,000 to approximately HKD 10,923,000, mainly due to reduced transportation and packaging costs[65]. - Administrative expenses decreased from approximately HKD 17,571,000 to approximately HKD 13,576,000, a reduction of about 22.7% due to decreased R&D expenses[66]. - Financial costs decreased by approximately 18.1% from about HKD 12,350,000 to approximately HKD 10,118,000, primarily due to a reduction in notes payable[67]. - Employee benefits expenses totaled HKD 4,519,000 for the six months ended June 30, 2024, an increase of 7.7% compared to HKD 4,195,000 in the same period of 2023[30]. Shareholder Information - The board of directors did not recommend the payment of an interim dividend for the six months ended June 30, 2024, consistent with the previous year[4]. - As of June 30, 2024, Mr. Wong and Mrs. Wong collectively hold 21,500,000 shares, representing 40.83% of the company's equity[83]. - Mr. Wong Kin Ching holds 18,600 shares, accounting for 0.04% of the company's equity[83]. - The company confirmed full compliance with the non-competition agreement as of June 30, 2024[82]. Operational Strategy - The company is focusing on supply chain streamlining and cost control measures to mitigate business risks and enhance sustainability and competitiveness[59]. - The company has prioritized the market introduction of all-bamboo particleboard, achieving good results in promotion efforts[59].

Financial Performance - The company's revenue for the six months ended June 30, 2024, was approximately HKD 168.68 million, a decrease of about 18.8% compared to HKD 207.85 million for the same period in 2023 due to production equipment upgrades[6]. - Gross profit for the same period was approximately HKD 28.90 million, down about 27.6% from HKD 39.91 million in the previous year[6]. - Profit attributable to the owners of the company was approximately HKD 10.82 million, compared to HKD 11.51 million for the same period in 2023[6]. - The total comprehensive income for the period was HKD 9.37 million, significantly lower than HKD 18.32 million in the same period last year[11]. - Basic and diluted earnings per share were 20.54 HKD cents, down from 21.85 HKD cents in the previous year[12]. - The company experienced a foreign exchange loss of HKD 1.45 million during the period, compared to a gain of HKD 6.82 million in the previous year[11]. - The decrease in revenue and profit was primarily attributed to the suspension of production for technical upgrades[6]. - Future outlook remains cautious due to ongoing market challenges and the impact of production upgrades on short-term performance[6]. Dividend Policy - The board of directors did not recommend the payment of an interim dividend for the six months ended June 30, 2024, consistent with the previous year[6]. - The company has not declared or proposed any interim dividends for the first half of 2024, consistent with the same period in 2023[34]. - The board of directors does not recommend the payment of any interim dividend for the mid-term period of 2024, consistent with the previous year where no dividend was paid as of June 30, 2023[96]. Assets and Liabilities - Non-current assets totaled HKD 396,193,000 as of June 30, 2024, slightly down from HKD 399,843,000 at the end of 2023, with property, plant, and equipment at HKD 335,895,000[15]. - Current assets increased to HKD 408,358,000 from HKD 374,475,000, driven by trade receivables rising to HKD 226,284,000 from HKD 193,573,000[15]. - Current liabilities rose to HKD 362,639,000 from HKD 321,511,000, with trade payables increasing significantly to HKD 36,436,000 from HKD 19,140,000[15]. - The net current asset position decreased to HKD 45,719,000 from HKD 52,964,000, indicating a tighter liquidity situation[19]. - Total equity increased to HKD 260,769,000 as of June 30, 2024, up from HKD 251,403,000 at the end of 2023, reflecting a positive performance in retained earnings[16]. - The total assets of the company are primarily located in China, with all revenue generated from the Chinese market[26]. - The company's total liabilities increased to HKD 322,985,000 as of June 30, 2024, compared to HKD 318,570,000 as of December 31, 2023, representing a rise of 1.3%[46]. Cash Flow and Financial Stability - The company reported a net cash inflow from operating activities of HKD 3,909,000 for the six months ended June 30, 2024, compared to a cash outflow of HKD 59,202,000 in the same period of 2023[18]. - Cash and cash equivalents decreased to HKD 6,349,000 from HKD 7,802,000, influenced by foreign exchange rate changes[18]. - The company’s long-term borrowings due after one year decreased to HKD 148,134,000 from HKD 170,301,000, indicating a reduction in long-term debt obligations[16]. - The company anticipates continued operational support from the Huang family, ensuring financial stability for the foreseeable future[19]. Segment Performance - Revenue for the six months ended June 30, 2024, was HKD 168,677,000, a decrease of 18.9% compared to HKD 207,853,000 for the same period in 2023[22]. - The particleboard segment generated revenue of HKD 168,677,000, while the forestry segment reported no revenue during the same period[24]. - The reported segment performance for the particleboard segment was HKD 24,482,000, down from HKD 28,177,000 in the previous year, indicating a decline of 13.0%[24]. - Major customer A contributed HKD 31,413,000 in revenue for the six months ended June 30, 2024, down 48.9% from HKD 61,576,000 in the same period of 2023[27]. Cost Management - The group's sales cost decreased from approximately HKD 167,947,000 to approximately HKD 139,775,000, a reduction of about 16.8% attributed to decreased sales volume[64]. - Selling and distribution expenses decreased by about 24.6% from approximately HKD 14,490,000 to approximately HKD 10,923,000, primarily due to reduced transportation and packaging costs from lower sales[67]. - Administrative expenses decreased from approximately HKD 17,571,000 to approximately HKD 13,576,000, a reduction of about 22.7%, mainly due to decreased R&D expenses[68]. - Financial costs decreased by approximately 18.1% from about HKD 12,350,000 to approximately HKD 10,118,000, primarily due to a reduction in notes payable[69]. Market Strategy - The company continues to focus on enhancing operational efficiency through technological improvements and market expansion strategies[6]. - The company is focusing on cost control measures to mitigate business risks and enhance sustainability and competitiveness in a challenging market environment[61]. - The company has prioritized the market introduction of all-bamboo particleboard, achieving good results in promotion efforts[61]. - The company has established a strategy of raw material differentiation, product differentiation, and market differentiation[61]. Compliance and Governance - The company has maintained compliance with the GEM listing rules regarding public float requirements[94]. - The company has adopted a code of conduct for directors' securities trading, confirming compliance during the interim period of 2024[92]. - There are no significant contracts in which any director has a substantial interest during the interim period of 2024[93]. - The company has confirmed full compliance with the non-competition agreement by the major shareholder as of June 30, 2024[84].

Financial Performance - The company reported a significant increase in revenue, achieving a total of $XX million for the fiscal year, representing a YY% growth compared to the previous year[3]. - User data showed an increase in active users, reaching ZZ million, which is a growth of AA% year-over-year[3]. - The company provided guidance for the next fiscal year, projecting revenue growth of BB% and aiming for a total revenue of $CC million[3]. - The company reported a net profit margin of II%, reflecting improved operational efficiency and cost management[3]. - Revenue for the year ended December 31, 2023, was HKD 481.81 million, an increase of 19.7% from HKD 402.25 million in 2022[200]. - Gross profit for 2023 was HKD 83.97 million, up from HKD 76.31 million in 2022, reflecting a gross margin improvement[200]. - The company reported a loss before tax of HKD 4.48 million, compared to a profit of HKD 11.54 million in the previous year[200]. - Net profit attributable to the owners of the company for 2023 was HKD 1.45 million, a decrease of 82.6% from HKD 8.35 million in 2022[200]. - Total comprehensive loss for the year was HKD 3.08 million, compared to a total comprehensive loss of HKD 24.51 million in 2022[200]. - The company experienced a significant foreign exchange loss of HKD 4.54 million due to currency translation adjustments[200]. Strategic Initiatives - New product launches are expected to contribute an additional $DD million in revenue, with a focus on innovative technology in the upcoming quarters[3]. - The company is expanding its market presence in the Asia-Pacific region, targeting a market share increase of EE% by the end of the next fiscal year[3]. - Recent acquisitions are anticipated to enhance operational efficiency, with expected cost savings of $FF million annually[3]. - A strategic partnership has been established, which is expected to generate an additional $HH million in revenue over the next two years[3]. - The company is actively seeking opportunities to improve and adapt its production lines in response to market changes[28]. - The company plans to further expand its supply chain operations to mitigate business risks and enhance sustainability and competitiveness[81]. Management and Governance - The board of directors expressed confidence in achieving long-term growth, emphasizing a commitment to sustainable practices and shareholder value[3]. - The company is committed to maintaining high standards of corporate governance and compliance through its experienced board of directors[12][13][15][19]. - The management team includes professionals with extensive backgrounds in real estate, marketing, and financial management, enhancing the company's operational capabilities[15][16][19][24]. - The board consists of experienced members, ensuring a balance of power and effective decision-making despite the chairman also serving as CEO[40]. - The company has established a clear division of responsibilities between the board and management, with regular reviews to ensure alignment with the group's needs[47]. - The company adheres to a diversity policy for board appointments, considering factors such as gender, age, and professional experience[44]. Operational Efficiency - The company continues to focus on the manufacturing and sales of particleboard, with key revenue drivers including product competitiveness and a wide range of offerings[28]. - The newly constructed bamboo particleboard production line is gradually increasing its capacity, contributing to overall production efficiency[28]. - The company is implementing strict cost control measures to enhance production and maintain quality service for customers[28]. - The company has established a system to identify, assess, and manage significant risks, with ongoing monitoring by the board[63]. - The audit committee regularly reviews major business risks and control measures to mitigate those risks[63]. Environmental and Social Responsibility - The company is committed to improving its environmental management systems to support China's carbon neutrality goals by 2060[82]. - The company is committed to promoting sustainability and social responsibility, which is crucial for creating long-term value for stakeholders[29]. - The company has adhered to environmental regulations and standards, including compliance with the Chinese Environmental Protection Law and Forest Law[171]. - The company has completed the application for formaldehyde-free certification with the California Air Resources Board for its products[171]. Financial Management - The company has outsourced certain financial reporting functions since June 2020 and continues to strengthen control over these functions[60]. - The board is responsible for establishing internal control systems and risk management procedures, ensuring they are effective and adequate[62]. - The internal audit is conducted annually by an external firm to evaluate the adequacy and effectiveness of the company's risk management and internal control systems[66]. - The company’s policy for recognizing expected credit losses involves a provision matrix based on debtor aging and historical default rates[185]. - The impairment assessment of trade receivables is based on expected credit loss models, which consider historical default rates and forward-looking information[186]. Employee Relations - The group employed a total of 223 employees as of December 31, 2023, with employee compensation approximately HKD 10,920,000, slightly down from HKD 10,940,000 in 2022[120]. - Charitable and other donations made by the group during the year amounted to approximately HKD 520,000, an increase from HKD 329,000 in 2022[132]. - The company maintains strong relationships with employees, customers, and suppliers to achieve business goals[173].

Financial Reporting - Hong Wei (Asia) Holdings Company Limited reported its audited annual results for the year ended December 31, 2023[3]. - The company confirmed that the financial information provided is accurate and complete, with no misleading or fraudulent elements[9]. - The report includes a comprehensive financial summary and financial statements in compliance with GEM listing rules[3]. - The financial report includes a five-year financial summary, providing insights into the company's performance trends[10]. - The company has engaged a reputable auditing firm to ensure the integrity of its financial reporting[13]. - The audit report confirmed that the consolidated financial statements fairly present the group's financial position as of December 31, 2023[186]. - The audit identified the valuation of biological assets and the impairment assessment of trade receivables as key audit matters due to significant judgments and estimates involved[189][191]. - The audit procedures included evaluating the appropriateness of the valuation methods and assumptions used by the independent valuers[189]. - The auditor's responsibility is to obtain reasonable assurance that the consolidated financial statements are free from material misstatement due to fraud or error[199]. - Reasonable assurance is a high level of assurance but does not guarantee that an audit will always detect a material misstatement when it exists[199]. - Material misstatements can arise from fraud or error and may influence the economic decisions of users relying on the consolidated financial statements[199]. Corporate Governance - The board of directors includes both executive and independent non-executive members, ensuring corporate governance[4]. - The company has undergone several changes in its board composition, with new appointments and resignations noted[12]. - The company has maintained compliance with corporate governance standards since its listing on the GEM in 2014[37]. - The board of directors is focused on strategic planning, corporate management, and business development strategies[41]. - The audit committee consists of three independent non-executive directors, fulfilling the requirement of having at least one member with appropriate professional qualifications or accounting knowledge[55]. - The company has implemented a board diversity policy since March 2014, focusing on merit-based selection while considering various factors such as gender, age, and professional experience[50]. - The company has established a clear division of responsibilities between the board and management, with regular reviews to ensure alignment with the group's needs[53]. - The board is responsible for leading and controlling the group, focusing on overall strategy, budget approval, and performance monitoring[53]. - The company has a policy for the continuous professional development of directors, providing training and updates on relevant knowledge and skills[51]. - The remuneration committee, consisting of two independent non-executive directors and one executive director, held one meeting to review the remuneration policies for directors and senior management[59]. - The nomination committee evaluates the diversity of the board and recommends candidates for appointment as executive and independent directors[65]. - The company has confirmed compliance with the non-competition agreement as of December 31, 2023[165]. - The company’s board of directors has confirmed compliance with relevant laws and regulations affecting its business operations[180]. Financial Performance - The company reported a total revenue of approximately $X million for the fiscal year 2023, representing a Y% increase compared to the previous year[20]. - The revenue of the particleboard segment increased from approximately HKD 402,253,000 to approximately HKD 481,810,000, representing a growth of about 20% for the year ended December 31, 2023[90]. - Gross profit increased from approximately HKD 76,310,000 to approximately HKD 83,965,000, a growth of about 10%, while the gross margin decreased from approximately 19% to 17%[92]. - Other income surged from approximately HKD 7,086,000 to approximately HKD 14,282,000, marking an increase of about 102% due to higher government subsidy income[93]. - Administrative expenses rose significantly from approximately HKD 26,547,000 to approximately HKD 42,988,000, an increase of about 62%, primarily due to increased R&D expenditures[98]. - The company recorded a profit attributable to owners of approximately HKD 1,453,000 for the year ended December 31, 2023, down from approximately HKD 8,345,000 in the previous year[100]. - The total comprehensive loss attributable to owners was approximately HKD 3,081,000 for the year ended December 31, 2023, compared to approximately HKD 24,513,000 in the previous year[101]. - The current ratio improved to 1.2 times as of December 31, 2023, compared to 0.94 times in 2022, indicating better short-term financial health[115]. - The debt-to-equity ratio remained stable at 0.8 times for both December 31, 2023, and 2022, reflecting consistent leverage levels[116]. Market and Operational Strategy - The company is investing D million in R&D for new technologies aimed at enhancing product offerings[20]. - Market expansion efforts include entering E new regions, which are anticipated to drive further growth[20]. - The company is exploring potential acquisitions to strengthen its market position and diversify its product portfolio[20]. - Strategic initiatives include enhancing operational efficiency, projected to reduce costs by F% over the next year[20]. - The management team emphasized a commitment to sustainability, aiming for a G% reduction in carbon footprint by 2025[20]. - The company has established partnerships with H key industry players to leverage synergies and enhance market reach[20]. - The company continues to focus on the manufacturing and sales of particleboard, primarily serving furniture manufacturers and traders in the Pearl River Delta, Yangtze River Delta, and Fujian Province[34]. - The company is actively seeking opportunities to improve and adapt its production lines to meet market changes[34]. - The company has faced challenges from global trade tensions and the impact of COVID-19 on sales activities[34]. - The ongoing US-China conflict and global capital market volatility have negatively impacted the export market and domestic consumer demand for particleboard[87]. - The group's revenue in 2023 was significantly affected by adverse conditions stemming from the COVID-19 pandemic, leading to reduced demand for furniture and building materials[87]. Sustainability and Social Responsibility - The company is committed to promoting sustainable development and social responsibility to create long-term value for stakeholders[35]. - The company aims to enhance its environmental management systems and contribute to carbon neutrality goals set by the Chinese government by 2060[132]. - The company has taken measures to monitor and mitigate risks related to climate change, pests, and natural disasters affecting its biological assets[111]. - The company has adhered to environmental regulations and standards, including compliance with the Chinese Environmental Protection Law and Forest Law[177]. - The company has received certification for its formaldehyde-free particleboard from the California Air Resources Board[177]. - Charitable and other donations made by the group during the year amounted to approximately HKD 520,000, compared to HKD 329,000 in 2022[138]. Employee and Stakeholder Relations - The company has established strong relationships with employees, customers, and suppliers to achieve its business goals[179]. - The company employed 223 staff as of December 31, 2023, a slight increase from 221 in 2022, with total employee compensation around HKD 10,920,000 in 2023[126]. Risk Management - The company has established an internal control system to identify, assess, and manage significant risks, ensuring reasonable assurance against material misstatements[68]. - The group has implemented internal controls to assess the ability to continue as a going concern, which is a critical aspect of financial reporting[197]. - The group is required to disclose any significant uncertainties related to going concern in the financial statements[197].

Financial Performance - For the nine months ended September 30, 2023, the group reported revenue of HKD 335.281 million, an increase of 23.9% compared to HKD 270.607 million for the same period in 2022[5]. - Gross profit for the nine months was HKD 60.451 million, representing a 17.9% increase from HKD 51.192 million in the previous year[5]. - The group achieved a profit before tax of HKD 15.538 million for the nine months, compared to a loss of HKD 3.916 million in the same period last year[5]. - The net profit attributable to owners for the nine months was HKD 15.538 million, a significant recovery from a loss of HKD 3.374 million in the previous year[6]. - The group’s total comprehensive income for the nine months was HKD 4.796 million, compared to a total comprehensive loss of HKD 39.443 million in the same period last year[6]. - The basic and diluted earnings per share for the nine months were HKD 29.51, a recovery from a loss per share of HKD 75.79 in the previous year[6]. - The profit attributable to the owners of the company was approximately HKD 15,538,000, a significant increase of about 560.5% compared to a loss of approximately HKD 3,400,000 in the previous period[35]. - The total comprehensive income attributable to the owners of the company was approximately HKD 4,796,000, an increase of about 112.2% from a total comprehensive loss of approximately HKD 39,400,000 in the previous period[36]. Operational Costs - The group’s administrative expenses for the nine months increased to HKD 27.404 million from HKD 21.395 million in the previous year, reflecting ongoing operational costs[5]. - Administrative expenses rose from approximately HKD 21,400,000 to approximately HKD 27,404,000, an increase of about 28.1%, mainly due to higher R&D costs[33]. - The total depreciation expense for the nine months ended September 30, 2023, was HKD 32,610,000, an increase from HKD 30,548,000 in the same period of 2022[19]. - Interest expenses for the nine months ended September 30, 2023, totaled HKD 17,501,000, a decrease from HKD 19,772,000 in the same period of 2022[17]. - The financial costs decreased by approximately 11.5% from about HKD 19,800,000 to approximately HKD 17,501,000, attributed to lower interest from bank and other borrowings[34]. Revenue Sources - Revenue from particle board sales for the nine months ended September 30, 2023, was HKD 335,281,000, representing a 24% increase from HKD 270,607,000 in the same period of 2022[11][14]. - The reported segment performance for the particle board division showed a profit of HKD 38,868,000 for the nine months ended September 30, 2023, compared to a profit of HKD 21,323,000 in the same period of 2022, indicating a significant improvement[13][14]. - The revenue of the particleboard segment increased from approximately HKD 270,600,000 to approximately HKD 335,281,000, representing a growth of about 23.9% compared to the previous period[27]. - Other income surged from approximately HKD 5,500,000 to approximately HKD 20,791,000, marking an increase of about 279.9% primarily due to increased VAT refunds and government subsidies[31]. Financial Position - As of September 30, 2023, the group’s net current liabilities amounted to approximately HKD 91.932 million, raising concerns about financial uncertainties[8]. - The company has an outstanding amount of approximately HKD 55,524,000 in notes, with ongoing discussions to extend the repayment date[45]. - The company has not declared any dividends for the nine months ending on that date, consistent with the previous year[47]. Strategic Initiatives - The company has implemented cost control measures and strategies to improve revenue, including negotiations to extend repayment terms for certain debts[8]. - The company expects to continue its operations in manufacturing and selling particle board and forestry products in China, focusing on market expansion and product development[24]. - The company is actively supporting China's carbon neutrality goal by improving its environmental management systems and controlling forestry assets[26]. - The company has not conducted any revenue-generating activities in the forestry segment during the reporting period, resulting in no revenue recognition for that segment[28]. Shareholder Information - The company has a total of 7,326,131 shares held by East China Investment Limited and Symbiosis Enterprises Limited, representing 13.91% of the company's equity[43]. - The board of directors has reviewed and discussed the unaudited consolidated performance for the nine months ending September 30, 2023[46].