Financial Performance - The group's revenue for the year ended December 31, 2024, was approximately HKD 138.70 million, a decrease of about 25.30% compared to approximately HKD 185.67 million for the year ended December 31, 2023[21][24]. - Sales cost decreased by approximately HKD 44.80 million or 31.47% from HKD 142.35 million for the year ended December 31, 2023, to approximately HKD 97.55 million for the year ending December 31, 2024[25]. - Gross profit decreased by approximately HKD 2.17 million or about 5.01% from approximately HKD 43.32 million for the year ended December 31, 2023, to approximately HKD 41.15 million for the year ending December 31, 2024[26]. - Administrative expenses decreased by approximately HKD 11.54 million or about 23.74% from approximately HKD 48.60 million for the year ended December 31, 2023, to approximately HKD 37.06 million for the year ending December 31, 2024[28]. - The company recorded a loss before tax of approximately HKD 19.07 million for the year ending December 31, 2024, an increase of about 1.76% compared to approximately HKD 18.74 million for the year ended December 31, 2023[30]. - Cash and bank balances as of December 31, 2024, were approximately HKD 16.52 million, down from HKD 71.74 million in 2023[36]. - The company's current ratio as of December 31, 2024, was 0.92, compared to 1.02 as of December 31, 2023[36]. - The company's debt-to-equity ratio as of December 31, 2024, was approximately 817.34%, up from 446.54% in 2023[37]. Business Strategy and Operations - The company plans to adopt a prudent approach, strictly control operating costs, and focus on improving operational efficiency and profitability[15][23]. - The company continues to invest in high-tech development and personalized services to maintain stable growth in the watch industry[16]. - The outlook for overseas markets remains uncertain, with risks of economic slowdown or recession, particularly in Europe and the United States[16]. - The company aims to focus on core business development, improve product design, and enhance development capabilities for long-term shareholder returns[17]. - The company will closely monitor market trends to provide designs that meet customer and market needs, especially in the Southeast Asian market[16]. - The company acknowledges the challenges posed by technological innovation, diverse consumer demands, and intense market competition in the watch industry[16]. Shareholder and Capital Management - The company has entered into a non-binding memorandum of understanding regarding the acquisition of a non-ferrous metal mining business[38]. - The company successfully placed all unallocated rights shares at a price of HKD 0.10 per share, raising funds for operational needs[47]. - The total amount raised from the rights issue (including compensation arrangements) is approximately HKD 8.25 million, with a net amount of approximately HKD 7.47 million after expenses[48]. - Approximately HKD 5.98 million of the net proceeds will be used to repay bank loans, and approximately HKD 1.49 million will be allocated for general working capital[50]. - The company has fully utilized the net proceeds from the rights issue and placement, with no remaining unused amounts[50]. - The board does not recommend a final dividend for the year ending December 31, 2024, consistent with the previous year where no dividend was paid[68]. Corporate Governance - The company has confirmed compliance with the non-competition agreement by its controlling shareholders since the listing date, with no violations reported[66]. - The board consists of five members, including two executive directors and three independent non-executive directors[75]. - The company has adopted a board diversity policy, considering various factors such as gender, age, and professional experience to achieve diversity among board members[78]. - The company has maintained compliance with the corporate governance code, except for a reasonable deviation regarding the separation of roles between the chairman and CEO[69]. - The independent non-executive directors have confirmed no knowledge of any breaches of the non-competition agreement by controlling shareholders[66]. - The board is responsible for overseeing the company's business, strategic decisions, and performance[72]. - The board consists of 5 directors, with 3 male and 2 female members, achieving gender diversity[80]. - The company has established an audit committee comprising 3 independent non-executive directors to oversee financial reporting and risk management[86]. - The remuneration committee held one meeting to review the remuneration structure for directors and provide recommendations[87]. - The nomination committee conducted one meeting to assess the board's composition and evaluate the independence of non-executive directors[88]. - The company has a clear division of roles between the chairman and the CEO, with the current arrangement deemed beneficial for effective management[82]. - The board is committed to promoting gender diversity at all levels, including senior management[80]. - The audit committee held four meetings during the reporting period to review accounting standards and financial reporting[86]. - The company has complied with GEM listing rules by appointing at least three independent non-executive directors[84]. - The board will continue to review its composition and diversity regularly to ensure effectiveness[80]. Environmental, Social, and Governance (ESG) Practices - The company emphasizes a sustainable dividend policy, balancing shareholder interests with prudent capital management[103]. - The board will consider various factors, including financial performance and economic conditions, when recommending any dividend payments[104]. - The company has established effective communication channels with shareholders, including an annual general meeting to discuss important resolutions[106]. - The company has a whistleblowing and anti-corruption policy in place, detailed in the 2023 Environmental, Social, and Governance report[109]. - The board consists of experienced members, including the chairman with over 36 years in the watch industry, focusing on strategy and product development[111]. - The company aims to become a leading manufacturer of high-quality watches in China and globally, focusing on sustainable practices and providing reasonable returns to shareholders[183]. - The board emphasizes the importance of resource management, occupational safety, and compliance with environmental, social, and governance (ESG) regulations to enhance corporate image and competitiveness[185]. - The company maintains the same ESG governance structure as the previous reporting period, with the board responsible for setting goals and monitoring performance related to ESG issues[186]. - The company actively engages with stakeholders to identify and address relevant ESG matters, utilizing various communication channels[189]. - An annual materiality assessment is conducted to understand stakeholder expectations regarding the company's ESG performance[191]. - The company is committed to minimizing its carbon footprint, energy consumption, and the impact of climate change as part of its sustainable development strategy[195]. - The Shenzhen factory operates under multiple environmental protection laws and regulations to ensure compliance and sustainability[195]. - The board regularly reviews and discusses the establishment and progress of annual environmental goals[185]. - The company aims to create long-term value for stakeholders through a strict corporate governance framework[185]. - The company has established a comprehensive stakeholder list and engages in continuous communication to ensure effective stakeholder participation[190]. - The company has not experienced any significant violations of China's environmental protection laws and regulations during the 2024 reporting period[196]. - Management conducts an annual review of environmental issues and regularly monitors for any new laws and regulations[197]. - The company emphasizes environmental management and corporate social responsibility, focusing on compliance with local environmental laws and regulations[198]. - During the reporting period, there were no significant issues related to emissions of harmful and non-harmful waste or water pollution violations[198]. - Air pollutants generated by the company during the 2024 reporting period include sulfur oxides, nitrogen oxides, and particulate matter, primarily from vehicle usage[199]. - The company aims to minimize adverse environmental impacts by using unleaded gasoline and electricity for all vehicles and machinery[200]. - Air pollutants and greenhouse gas emissions are sourced from direct emissions from mobile combustion sources (Scope 1) and indirect emissions from purchased electricity (Scope 2)[200]. Market and Competitive Environment - The Hong Kong Trade Development Council's export confidence index rose from 35.0 in Q4 2023 to 50.3 in Q4 2024, indicating improved business performance among exporters[14][22]. - The watch industry's confidence index increased from 47.5 in Q4 2023 to 49.1 in Q4 2024, reflecting a slight improvement in market sentiment[14][22]. - The company reported an increase in sales, new orders, and procurement activities, contributing to the rise in exporter confidence[14][22]. - The competitive environment in the watch manufacturing industry in China is intense, with over 1,000 market participants, impacting pricing and demand significantly[143]. - The company faces potential increases in operational costs due to changes in laws and regulations in the jurisdictions where it operates, which may affect its growth and expansion capabilities[144]. - The company's operations in China are heavily influenced by the economic, political, and legal developments in the region, which could impact its financial performance[145]. - The Chinese government's economic policies and interventions may affect the company's ability to maintain growth and expansion strategies[146]. - The company acknowledges the risks associated with the implementation of new laws and regulations that could impose additional costs and limit its operational capabilities[148]. - Financial risks are detailed in the consolidated financial statements, indicating potential vulnerabilities in the company's financial health[149].

Financial Performance - For the fiscal year ending December 31, 2024, the company reported total revenue of HKD 138,695,000, a decrease of 25.3% compared to HKD 185,667,000 in 2023[5] - The cost of sales for the same period was HKD 97,549,000, resulting in a gross profit of HKD 41,146,000, which is a decline of 5.0% from HKD 43,315,000 in 2023[5] - The company incurred a net loss of HKD 19,233,000 for the year, slightly improved from a loss of HKD 19,932,000 in the previous year[5] - Total comprehensive income for the year included other comprehensive income of HKD 5,497,000, compared to a loss of HKD 932,000 in 2023[6] - The basic and diluted loss per share for the year was HKD 10.00, compared to HKD 11.98 in 2023, indicating a slight improvement[6] - The company reported a loss attributable to owners of approximately HKD 19,229,000 for the year ending December 31, 2024[14] - The company reported a net loss of HKD 11,948,000 in other income and expenses for 2024, compared to a loss of HKD 254,000 in 2023[23] - The group recorded a pre-tax loss of approximately HKD 19.07 million for the year ending December 31, 2024, an increase of about 1.76% compared to approximately HKD 18.74 million for the year ending December 31, 2023[53] - Total comprehensive expenses attributable to owners of the company decreased by approximately 33.67% to about HKD 13.73 million for the year ending December 31, 2024[55] Assets and Liabilities - The company's total assets decreased to HKD 130,893,000 in 2024 from HKD 134,072,000 in 2023, reflecting a reduction of 2.4%[7] - Current liabilities were reported at HKD 141,747,000, down from HKD 130,875,000 in 2023, indicating an increase of 8.5%[8] - The company's cash and bank balances significantly decreased to HKD 16,518,000 from HKD 71,744,000, a decline of 77.0%[7] - The company’s equity attributable to owners decreased to HKD 12,481,000 from HKD 18,681,000, a drop of 33.3%[8] - The group's current liabilities amounted to approximately HKD 10,854,000[14] - The group's bank overdrafts and borrowings were approximately HKD 2,873,000 and HKD 56,184,000, respectively, with cash and bank balances of approximately HKD 16,518,000[14] - The total borrowings decreased from HKD 120,219 thousand in 2023 to HKD 59,057 thousand in 2024[40] - The bank overdraft decreased from HKD 3,738 thousand in 2023 to HKD 2,873 thousand in 2024[40] Revenue Breakdown - Revenue for the year ended December 31, 2024, was HKD 138,695,000, a decrease of 25.3% from HKD 185,667,000 in 2023[22] - The revenue breakdown by region shows a significant decline in Asia from HKD 146,148,000 in 2023 to HKD 95,566,000 in 2024, a drop of 34.5%[20] - Major customer B contributed HKD 64,134,000 in 2024, up 33.1% from HKD 48,226,000 in 2023[21] Cost Management - The company is implementing an operational plan to control costs and generate sufficient cash flow to meet current and future obligations[14] - The company plans to adopt a cautious approach and continue strict cost control to improve operational efficiency and profitability[46] - Total employee costs decreased to HKD 17,704,000 in 2024 from HKD 21,918,000 in 2023, reflecting a reduction of approximately 19.8%[8] - Administrative expenses decreased by approximately HKD 11.54 million or 23.74% to about HKD 37.06 million for the year ending December 31, 2024[51] - Financial costs reduced by approximately HKD 1.58 million or 17.32% to about HKD 7.54 million for the year ending December 31, 2024, primarily due to the repayment of bank loans[52] - Sales and distribution expenses decreased by approximately 10.05% to about HKD 3.67 million for the year ended December 31, 2024, down from approximately HKD 4.08 million for the previous year[50] Future Plans and Strategies - The company plans to focus on market expansion and new product development to enhance future performance[5] - The company plans to enhance liquidity and reduce borrowings through a transaction pending approval at a special shareholders' meeting[17] - The company plans to focus on core business development and improve product design and development capabilities to maximize long-term returns for shareholders[57] Shareholder Information - The company has no plans to pay dividends to ordinary shareholders for the year 2024, consistent with 2023[28] - The board does not recommend the payment of a final dividend for the year ending December 31, 2024 (2023: zero)[93] - The company received valid applications for a total of 53,490,250 shares in the rights issue, representing approximately 64.8% of the total shares offered[71] - The total amount raised from the rights issue, including the compensation arrangement, was approximately HKD 8.25 million, with a net amount of approximately HKD 7.47 million after expenses[72] - Approximately HKD 5.98 million of the net proceeds will be used to repay bank loans, and approximately HKD 1.49 million will be allocated for general working capital[72] Corporate Governance - The company has complied with the corporate governance code as of December 31, 2024, except for reasonable deviations as detailed[94] - The chairman and CEO roles are held by the same individual, Mr. Cheung, due to his extensive experience since 1986, which the board believes benefits the company's operations during its rapid development phase[95] - The company has adopted a code of conduct for directors' securities transactions, confirming compliance with trading regulations as of December 31, 2024[97] Audit and Reporting - The independent auditor, Tianjian International, has reviewed the consolidated financial statements for the fiscal year ending December 31, 2024, but does not provide any assurance on the performance announcement[100] - The annual performance announcement and annual report for the fiscal year ending December 31, 2024, will be published on the company's and the stock exchange's websites[101]

[Company Information](index=3&type=section&id=%E5%85%AC%E5%8F%B8%E8%B3%87%E6%96%99) The company's board includes executive directors Mr. Cheuk Sin Cheung (Chairman and CEO) and Ms. Au Ching Mei, along with independent non-executive directors - The board of directors includes executive directors Mr. Cheuk Sin Cheung (Chairman and Chief Executive Officer) and Ms. Au Ching Mei, along with independent non-executive directors Mr. Yu Sau Ning, Ms. Yu Wai Fong, Dr. Liu Ngai Wing (resigned on June 13, 2024), and Mr. Yip Yat Lam (appointed on June 13, 2024)[6](index=6&type=chunk) - The company's stock code is **8219**, and its website is www.hanveygroup.com.hk[6](index=6&type=chunk) [Overview](index=5&type=section&id=%E6%A6%82%E8%A6%81) The Group experienced a significant decline in revenue and a shift from profit to loss during the reporting period Key Financial Indicators for the Six Months Ended June 30, 2024 | Indicator | June 30, 2024 (HK$ thousand) | June 30, 2023 (HK$ thousand) | Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 51,811 | 127,122 | -59.24% | | (Loss)/Profit Attributable to Owners of the Company | (8,970) | 1,318 | Shifted from profit to loss | | Basic (Loss)/Earnings Per Share | (5.44) HK cents | 0.80 HK cents | Shifted from profit to loss | - During the reporting period, Hanvey Group's revenue significantly decreased, shifting from profit to loss, with basic earnings per share turning into a loss[7](index=7&type=chunk)[9](index=9&type=chunk)[22](index=22&type=chunk) [Condensed Consolidated Financial Statements](index=6&type=section&id=%E7%B0%A1%E6%98%8E%E7%B6%9C%E5%90%88%E8%B2%A1%E5%8B%99%E5%A0%B1%E8%A1%A8) This section presents the Group's condensed consolidated financial performance, position, equity changes, and cash flows for the reporting period [Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=6&type=section&id=%E7%B0%A1%E6%98%8E%E7%B6%9C%E5%90%88%E6%90%8D%E7%9B%8A%E5%8F%8A%E5%85%B6%E4%BB%96%E5%85%A8%E9%9D%A2%E6%94%B6%E7%9B%8A%E8%A1%A8) During the reporting period, Group revenue significantly decreased by 59.24% to HK$51.81 million, leading to a 50.30% reduction in gross profit and a shift from profit to a loss of HK$8.972 million Summary of Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income | Indicator | Six Months Ended June 30, 2024 (HK$ thousand) | Six Months Ended June 30, 2023 (HK$ thousand) | Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 51,811 | 127,122 | -59.24% | | Gross Profit | 17,299 | 34,811 | -50.30% | | (Loss)/Profit Before Tax | (8,824) | (83) | Loss widened | | (Loss)/Profit for the Period | (8,972) | 1,235 | Shifted from profit to loss | | Basic (Loss)/Earnings Per Share | (5.44) HK cents | 0.80 HK cents | Shifted from profit to loss | - The loss attributable to owners of the Company was approximately **HK$8.97 million**, compared to a profit of approximately **HK$1.32 million** in the same period last year[7](index=7&type=chunk)[9](index=9&type=chunk)[22](index=22&type=chunk) [Condensed Consolidated Statement of Financial Position](index=7&type=section&id=%E7%B0%A1%E6%98%8E%E7%B6%9C%E5%90%88%E8%B2%A1%E5%8B%99%E7%8B%80%E6%B3%81%E8%A1%A8) As of June 30, 2024, the Group's total assets slightly decreased from the end of 2023, with a significant reduction in net current assets and net assets, indicating financial pressure Key Data from Condensed Consolidated Statement of Financial Position | Indicator | June 30, 2024 (HK$ thousand) | December 31, 2023 (HK$ thousand) | Change (HK$ thousand) | | :--- | :--- | :--- | :--- | | Non-current Assets | 65,346 | 68,522 | -3,176 | | Current Assets | 127,370 | 134,072 | -6,702 | | Current Liabilities | 126,235 | 130,875 | -4,640 | | Net Current Assets | 1,135 | 3,197 | -2,062 | | Net Assets | 13,566 | 17,798 | -4,232 | - Trade receivables significantly increased from **HK$17.599 million** as of December 31, 2023, to **HK$30.499 million** as of June 30, 2024[10](index=10&type=chunk)[24](index=24&type=chunk) - Loans from related companies substantially increased from **HK$1.800 million** as of December 31, 2023, to **HK$18.567 million** as of June 30, 2024[10](index=10&type=chunk) [Condensed Consolidated Statement of Changes in Equity](index=9&type=section&id=%E7%B0%A1%E6%98%8E%E7%B6%9C%E5%90%88%E6%AC%8A%E7%9B%8A%E8%AE%8A%E5%8B%95%E8%A1%A8) As of June 30, 2024, equity attributable to owners decreased from HK$18.681 million to HK$14.451 million, primarily due to a HK$8.970 million loss for the period, partially offset by a HK$4.740 million increase in exchange reserve Summary of Condensed Consolidated Statement of Changes in Equity | Indicator | June 30, 2024 (HK$ thousand) | December 31, 2023 (HK$ thousand) | Change (HK$ thousand) | | :--- | :--- | :--- | :--- | | Share Capital | 16,500 | 16,500 | 0 | | Share Premium | 53,080 | 53,080 | 0 | | Exchange Reserve | 2,323 | (2,417) | +4,740 | | Retained Profits/(Accumulated Losses) | (58,452) | (49,482) | -8,970 | | Equity Attributable to Owners of the Company | 14,451 | 18,681 | -4,230 | - A loss of **HK$8.970 million** was recorded for the period, compared to a profit of **HK$1.318 million** in the same period last year[12](index=12&type=chunk) - Exchange reserve increased by **HK$4.740 million**, turning from negative to positive due to exchange differences from translating financial statements of overseas operations[12](index=12&type=chunk) [Condensed Consolidated Statement of Cash Flows](index=10&type=section&id=%E7%B0%A1%E6%98%8E%E7%B6%9C%E5%90%88%E7%8F%BE%E9%87%91%E6%B5%81%E9%87%8F%E8%A1%A8) During the reporting period, net cash outflow from operating activities increased, investment activities shifted from net outflow to net inflow, and net cash outflow from financing activities significantly decreased, resulting in a negative cash and cash equivalents balance at period-end Summary of Condensed Consolidated Statement of Cash Flows | Indicator | Six Months Ended June 30, 2024 (HK$ thousand) | Six Months Ended June 30, 2023 (HK$ thousand) | Change (HK$ thousand) | | :--- | :--- | :--- | :--- | | Net Cash Used in Operating Activities | (28,248) | (22,557) | -5,691 | | Net Cash From Investing Activities | 7,277 | 66 | +7,211 | | Net Cash (Used in)/From Financing Activities | (74) | 23,546 | -23,620 | | Net (Decrease)/Increase in Cash and Cash Equivalents | (21,045) | 1,055 | -22,100 | | Cash and Cash Equivalents at End of Period | (5,281) | 11,358 | -16,639 | - Cash and bank balances at period-end were **HK$627 thousand**, but bank overdrafts amounted to **HK$5,908 thousand**, resulting in a net cash and cash equivalents of **negative HK$5,281 thousand**[14](index=14&type=chunk) [Notes to the Condensed Consolidated Financial Statements](index=11&type=section&id=%E7%B0%A1%E6%98%8E%E7%B6%9C%E5%90%88%E8%B2%A1%E5%8B%99%E5%A0%B1%E8%A1%A8%E9%99%84%E8%A8%BB) This section provides detailed notes explaining the basis of preparation, accounting policies, and specific financial items within the condensed consolidated financial statements [1. Company Information](index=11&type=section&id=1.%20%E5%85%AC%E5%8F%B8%E8%B3%87%E6%96%99) Hanvey Group was incorporated in the Cayman Islands in 2017, listed on GEM in Hong Kong in 2018, and primarily engages in ODM design, manufacturing, and distribution of watch products, with Man Yi Group Limited as its ultimate holding company - The Company is an investment holding company, and its subsidiaries are principally engaged in the design and development, manufacture, and distribution of watch products on an original design manufacturer (ODM) basis for global watch manufacturers, brand owners, and watch importers[15](index=15&type=chunk) - The Company's shares were listed on GEM of The Stock Exchange of Hong Kong Limited on **July 12, 2018**[15](index=15&type=chunk) [2. Basis of Preparation and Accounting Policies](index=11&type=section&id=2.%20%E7%B7%A8%E8%A3%BD%E5%9F%BA%E6%BA%96%E5%8F%8A%E6%9C%83%E8%A8%88%E6%94%BF%E7%AD%96) These interim financial statements are prepared in accordance with Hong Kong Financial Reporting Standards, consistent with the accounting policies used in the 2023 annual financial statements, with no significant impact from new or revised standards - The unaudited condensed consolidated interim financial statements are prepared in accordance with Hong Kong Financial Reporting Standards issued by the Hong Kong Institute of Certified Public Accountants[16](index=16&type=chunk) - The accounting policies adopted are consistent with those applied in the financial statements for the year ended December 31, 2023, and new and revised standards have no significant impact on the Group's results and financial position[16](index=16&type=chunk) [3. Revenue and Segment Information](index=11&type=section&id=3.%20%E6%94%B6%E7%9B%8A%E5%8F%8A%E5%88%86%E9%83%A8%E8%B3%87%E6%96%99) The Group primarily operates a single ODM watch manufacturing and trading segment, with revenue mainly from Asia, South America, and Europe, noting a significant decline in the Asian market - The Group currently operates only one original design manufacturer (ODM) operating segment, primarily engaged in the manufacture and trading of watches[17](index=17&type=chunk) Revenue by Geographical Location of Customers | Geographical Location | Six Months Ended June 30, 2024 (HK$ thousand) | Six Months Ended June 30, 2023 (HK$ thousand) | Change (HK$ thousand) | | :--- | :--- | :--- | :--- | | Asia | 32,536 | 110,780 | -78,244 | | Europe | 5,251 | 5,313 | -62 | | Pacific Region | 3,032 | 1,606 | +1,426 | | South America | 10,992 | 9,423 | +1,569 | | **Total** | **51,811** | **127,122** | **-75,311** | [4. Revenue, Other Income, Gains and Losses](index=12&type=section&id=4.%20%E6%94%B6%E7%9B%8A%E3%80%81%E5%85%B6%E4%BB%96%E6%94%B6%E5%85%A5%E3%80%81%E6%94%B6%E7%9B%8A%E5%8F%8A%E虧%E6%90%8D) Total Group revenue significantly decreased during the reporting period, mainly due to a sharp drop in sales of finished watches, while other income, gains, and losses shifted from positive to negative, primarily impacted by increased losses from financial assets at fair value through profit or loss Revenue Components | Item | Six Months Ended June 30, 2024 (HK$ thousand) | Six Months Ended June 30, 2023 (HK$ thousand) | Change (HK$ thousand) | | :--- | :--- | :--- | :--- | | Finished Watches | 16,568 | 91,914 | -75,346 | | Loose Parts Kits | 34,018 | 31,975 | +2,043 | | Watch Components | 1,225 | 3,233 | -2,008 | | **Total Revenue** | **51,811** | **127,122** | **-75,311** | Other Income, Gains and Losses | Item | Six Months Ended June 30, 2024 (HK$ thousand) | Six Months Ended June 30, 2023 (HK$ thousand) | Change (HK$ thousand) | | :--- | :--- | :--- | :--- | | Interest Income | 313 | 579 | -266 | | Rental Income | 192 | 182 | +10 | | Net Exchange (Loss)/Gain | 201 | (414) | +615 | | Miscellaneous Income | 532 | 0 | +532 | | Government Grant Income | 0 | 212 | -212 | | Net (Loss)/Gain on Disposal of Financial Assets at Fair Value Through Profit or Loss | (1,572) | (88) | -1,484 | | **Total** | **(334)** | **471** | **-805** | [5. Profit Before Tax](index=13&type=section&id=5.%20%E9%99%A4%E7%A8%85%E5%89%8D%E6%BA%A2%E5%88%A9) During the reporting period, depreciation expense for property, plant, and equipment was HK$2.043 million, a decrease from the prior year Depreciation of Property, Plant and Equipment | Indicator | Six Months Ended June 30, 2024 (HK$ thousand) | Six Months Ended June 30, 2023 (HK$ thousand) | Change (HK$ thousand) | | :--- | :--- | :--- | :--- | | Depreciation | 2,043 | 2,645 | -602 | [6. Income Tax](index=13&type=section&id=6.%20%E6%89%80%E5%BE%97%E7%A8%85) Total income tax expense for the reporting period was HK$148 thousand, primarily comprising Hong Kong profits tax and PRC enterprise income tax, a slight decrease from the prior year Components of Income Tax Expense | Item | Six Months Ended June 30, 2024 (HK$ thousand) | Six Months Ended June 30, 2023 (HK$ thousand) | Change (HK$ thousand) | | :--- | :--- | :--- | :--- | | Hong Kong Profits Tax | 115 | 86 | +29 | | PRC Enterprise Income Tax | 33 | 83 | -50 | | **Total** | **148** | **169** | **-21** | [7. (Loss)/Earnings Per Share](index=13&type=section&id=7.%20%E6%AF%8F%E8%82%A1%EF%BC%88%E虧%E6%90%8D%EF%BC%89%E2%88%95%E6%BA%A2%E5%88%A9) Basic loss per share for the reporting period was 5.44 HK cents, compared to basic earnings per share of 0.80 HK cents in the prior year, primarily due to a HK$8.97 million loss attributable to owners, with diluted loss per share being the same due to no potential dilutive ordinary shares (Loss)/Earnings Per Share | Indicator | Six Months Ended June 30, 2024 | Six Months Ended June 30, 2023 | | :--- | :--- | :--- | | Basic (Loss)/Earnings Per Share | (5.44) HK cents | 0.80 HK cents | - The loss attributable to owners of the Company for the reporting period was approximately **HK$8.97 million**, compared to a profit of approximately **HK$1.32 million** in the same period last year[22](index=22&type=chunk) [8. Property, Plant and Equipment](index=13&type=section&id=8.%20%E7%89%A9%E6%A5%AD%E3%80%81%E5%BB%A0%E6%88%BF%E5%8F%8A%E8%A8%AD%E5%82%99) During the reporting period, the Group's expenditure on property, plant, and equipment increased, and as of period-end, approximately HK$45.28 million of mortgaged property, plant, and equipment was pledged as security for bank financing Purchases of Property, Plant and Equipment | Indicator | Six Months Ended June 30, 2024 (HK$ million) | Six Months Ended June 30, 2023 (HK$ million) | Change (HK$ million) | | :--- | :--- | :--- | :--- | | Purchases | 0.06 | 0.03 | +0.03 | - As of June 30, 2024, mortgaged property, plant, and equipment with a carrying amount of approximately **HK$45.28 million** were pledged as security for the Group's general banking facilities[23](index=23&type=chunk) [9. Trade and Other Receivables, Deposits and Prepayments](index=14&type=section&id=9.%20%E8%B2%BF%E6%98%93%E6%87%89%E6%94%B6%E6%AC%BE%E9%A0%85%E3%80%81%E5%85%B6%E4%BB%96%E6%87%89%E6%94%B6%E6%AC%BE%E9%A0%85%E3%80%81%E6%8C%89%E9%87%91%E5%8F%8A%E9%A0%90%E4%BB%98%E6%AC%BE) As of June 30, 2024, trade receivables significantly increased, primarily concentrated in the 0-30 day aging category, indicating higher sales or slower collection, while prepayments for raw materials decreased Trade and Other Receivables | Item | June 30, 2024 (HK$ thousand) | December 31, 2023 (HK$ thousand) | Change (HK$ thousand) | | :--- | :--- | :--- | :--- | | Trade Receivables (net of allowance) | 30,499 | 17,599 | +12,900 | | Other Receivables, Deposits and Prepayments | 7,400 | 9,405 | -2,005 | Aging Analysis of Trade Receivables (net of impairment allowance) | Aging | June 30, 2024 (HK$ thousand) | December 31, 2023 (HK$ thousand) | Change (HK$ thousand) | | :--- | :--- | :--- | :--- | | 0 to 30 days | 22,757 | 7,198 | +15,559 | | 31 to 60 days | 4,810 | 5,970 | -1,160 | | 61 to 90 days | 386 | 1,415 | -1,029 | | Over 90 days | 2,546 | 3,016 | -470 | | **Total** | **30,499** | **17,599** | **+12,900** | - The Group allows credit periods of **30 to 90 days** to trade customers, with longer credit periods exceeding **90 days** granted to long-term customers[24](index=24&type=chunk) [10. Trade and Bills Payables, Other Payables and Accruals](index=15&type=section&id=10.%20%E8%B2%BF%E6%98%93%E6%87%89%E4%BB%98%E6%AC%BE%E9%A0%85%E5%8F%8A%E6%87%89%E4%BB%98%E7%A5%A8%E6%93%9A%E3%80%81%E5%85%B6%E4%BB%96%E6%87%89%E4%BB%98%E6%AC%BE%E9%A0%85%E5%8F%8A%E6%87%89%E8%A8%88%E8%B2%BB%E7%94%A8) As of June 30, 2024, total trade and bills payables decreased, with a notable reduction in bills payable, and trade payables typically have credit terms of 30 to 120 days Trade and Bills Payables | Item | June 30, 2024 (HK$ thousand) | December 31, 2023 (HK$ thousand) | Change (HK$ thousand) | | :--- | :--- | :--- | :--- | | Trade Payables | 21,865 | 23,924 | -2,059 | | Bills Payables | 22,656 | 28,415 | -5,759 | | **Total** | **44,521** | **52,339** | **-7,818** | Aging Analysis of Trade Payables | Aging | June 30, 2024 (HK$ thousand) | December 31, 2023 (HK$ thousand) | Change (HK$ thousand) | | :--- | :--- | :--- | :--- | | 0 to 30 days | 7,345 | 3,973 | +3,372 | | Over 120 days | 1,028 | 5,057 | -4,029 | - All bills payable are due within **30 to 120 days**, with bills payable aged **0 to 30 days** decreasing from **HK$8,717 thousand** to **HK$3,828 thousand**[28](index=28&type=chunk) [11. Related Party Transactions](index=16&type=section&id=11.%20%E9%97%9C%E8%81%AF%E6%96%B9%E4%BA%A4%E6%98%93) During the reporting period, there were no rental expense transactions between the Group and Mr. Cheuk Sin Cheung, compared to HK$360 thousand in the prior year Summary of Related Party Transactions | Name of Related Party | Nature of Transaction | Six Months Ended June 30, 2024 (HK$ thousand) | Six Months Ended June 30, 2023 (HK$ thousand) | | :--- | :--- | :--- | :--- | | Mr. Cheuk Sin Cheung | Rental Expense | 0 | 360 | [Management Discussion and Analysis](index=17&type=section&id=%E7%AE%A1%E7%90%86%E5%B1%A4%E8%A8%8E%E8%AB%96%E5%8F%8A%E5%88%86%E6%9E%90) This section provides an overview of the Group's business performance, financial review, and future outlook, including discussions on market conditions and operational strategies [Business Review](index=17&type=section&id=%E6%A5%AD%E5%8B%99%E5%9B%9E%E9%A1%A7) During the reporting period, Group revenue significantly decreased by 59.24% to HK$51.81 million, primarily impacted by a decline in the watch industry confidence index, prompting the Group to continue prudent cost control and operational efficiency improvements - The Group is principally engaged in the design and development, manufacture, and distribution of watch products on an original design manufacturer (ODM) basis for global watch manufacturers, brand owners, and watch importers[30](index=30&type=chunk) Revenue Changes | Indicator | Six Months Ended June 30, 2024 (HK$ million) | Six Months Ended June 30, 2023 (HK$ million) | Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 51.81 | 127.12 | -59.24% | - The HKTDC Export Confidence Index shows that the confidence index for the watch industry decreased from **48.8** in Q2 2023 to **41.3** in Q2 2024 (a drop of **7.5**), reflecting a pessimistic industry outlook[30](index=30&type=chunk) [Prospects](index=17&type=section&id=%E5%89%8D%E6%99%AF) The Group anticipates an uncertain overseas market environment, with economic slowdowns and rising funding costs from Fed rate hikes posing challenges to exports, yet significant demand for automatic mechanical and quartz watches in Southeast Asia persists, prompting close market observation and product design improvements - The uncertain overseas market environment, with risks of economic slowdown or recession, poses the greatest challenge to export performance in the coming months[30](index=30&type=chunk) - Continued interest rate hikes by the Federal Reserve lead to increased funding costs, potentially causing ongoing volatility in the stock market[30](index=30&type=chunk) - Demand for automatic mechanical and quartz watches in the Southeast Asian market remains substantial, and the Group will closely monitor market trends and provide designs suitable for customers[30](index=30&type=chunk) [Financial Review](index=18&type=section&id=%E8%B2%A1%E5%8B%99%E5%9B%9E%E9%A1%A7) During the reporting period, the Group's gross profit decreased by 50.30% due to lower sales, while selling and distribution expenses, administrative expenses, and finance costs all declined, primarily driven by reductions in freight, staff costs, and bank borrowings Changes in Key Financial Expenses | Indicator | Six Months Ended June 30, 2024 (HK$ million) | Six Months Ended June 30, 2023 (HK$ million) | Change (%) | | :--- | :--- | :--- | :--- | | Gross Profit | 17.30 | 34.81 | -50.30% | | Selling and Distribution Expenses | 1.51 | 2.03 | -25.62% | | Administrative Expenses | 20.36 | 27.46 | -25.86% | | Finance Costs | 3.92 | 4.38 | -10.50% | - The decrease in selling and distribution expenses was primarily due to a reduction in freight and transportation expenses[31](index=31&type=chunk) - The decrease in administrative expenses was mainly due to a reduction in staff costs[31](index=31&type=chunk) - The decrease in finance costs was primarily due to a reduction in bank borrowings[31](index=31&type=chunk) [Interim Dividend](index=18&type=section&id=%E4%B8%AD%E6%9C%9F%E8%82%A1%E6%81%AF) The Board did not declare an interim dividend for the reporting period, consistent with the same period in 2023 - The Board did not declare an interim dividend for the reporting period (2023: nil)[32](index=32&type=chunk) [Capital Structure](index=18&type=section&id=%E8%B3%87%E6%9C%AC%E6%9E%B6%E6%A7%8B) The Company's capital structure remained unchanged during the reporting period, primarily consisting of issued share capital and reserves, with the Board regularly reviewing the capital structure - The Company's capital structure remained unchanged during the reporting period, primarily comprising issued share capital and reserves[33](index=33&type=chunk) [Liquidity and Financial Resources](index=18&type=section&id=%E6%B5%81%E5%8B%95%E8%B3%87%E9%87%91%E5%8F%8A%E8%B2%A1%E5%8B%99%E8%B3%87%E6%BA%90) As of June 30, 2024, the Group's cash and bank balances significantly decreased, the current ratio declined, and the gearing ratio substantially increased to 730.06%, indicating heightened liquidity pressure Liquidity and Financial Resources Indicators | Indicator | June 30, 2024 | June 30, 2023 | Change | | :--- | :--- | :--- | :--- | | Cash and Bank Balances (HK$ million) | 0.63 | 11.36 | -94.45% | | Current Ratio (times) | 1.01 | 1.14 | -0.13 | | Gearing Ratio (%) | 730.06% | 257.30% | +472.76% | - The Directors believe that, as of the date of this interim report, the Group's financial resources are sufficient to support its business and operations[34](index=34&type=chunk) [Commitments](index=18&type=section&id=%E6%89%BF%E6%93%94) As of June 30, 2023, the Group had no capital commitments - As of **June 30, 2023**, the Group had no capital commitments[35](index=35&type=chunk) [Pledge of Assets](index=18&type=section&id=%E8%B3%87%E7%94%A2%E6%8A%B5%E6%8A%BC) At the end of the reporting period, approximately HK$127.083 million of the Group's assets, including property, plant and equipment, financial assets at fair value through profit or loss, investment properties, and bank deposits, were pledged to banks as security for banking facilities Total Pledged Assets | Item | Amount (HK$ thousand) | | :--- | :--- | | Property, Plant and Equipment | 45,279 | | Financial Assets at Fair Value Through Profit or Loss | 18,907 | | Investment Properties | 11,375 | | Bank Deposits | 51,522 | | **Total** | **127,083** | [Employees and Remuneration Policy](index=19&type=section&id=%E5%83%B1%E5%93%A1%E5%8F%8A%E8%96%AA%E9%85%AC%E6%94%BF%E7%AD%96) As of June 30, 2024, the Group's employee count decreased to 102, with salaries determined based on qualifications, position, and experience, and an annual review system for performance evaluation Number of Employees | Date | Number of Employees | | :--- | :--- | | June 30, 2024 | 102 | | June 30, 2023 | 116 | - The Company determines salaries based on each employee's qualifications, position, and experience, with an annual review system serving as the basis for salary increments, bonuses, and promotions[37](index=37&type=chunk) [Foreign Exchange Risk](index=19&type=section&id=%E5%A4%96%E5%8C%AF%E9%A2%A8%E9%9A%AA) The Group's purchases are denominated in HKD, while sales are primarily in USD, RMB, and HKD, and during the reporting period, the Group did not engage in any derivative instruments or hedging activities to manage foreign exchange risk - The Group's purchases are denominated in **HKD**, while sales are primarily denominated in **USD**, **RMB**, and **HKD**[38](index=38&type=chunk) - During the reporting period, the Group did not engage in any derivative activities or enter into any hedging activities for foreign exchange risk[38](index=38&type=chunk) [Contingent Liabilities](index=19&type=section&id=%E6%88%96%E7%84%B6%E8%B2%A0%E5%82%B5) As of June 30, 2024, the Group had no significant contingent liabilities - As of **June 30, 2024**, the Group had no significant contingent liabilities (December 31, 2023: nil)[39](index=39&type=chunk) [Events After Reporting Period](index=19&type=section&id=%E5%A0%B1%E5%91%8A%E6%9C%9F%E5%BE%8C%E4%BA%8B%E4%BB%B6) The Company proposes a rights issue on the basis of one rights share for every two existing shares held by qualifying shareholders at a subscription price of HK$0.10 per share, aiming to raise up to approximately HK$8.25 million - The Company proposes to issue up to **82,500,000 rights shares** at a subscription price of **HK$0.10** per rights share on the basis of one rights share for every two existing shares held by qualifying shareholders at the close of business on the record date[40](index=40&type=chunk) - The rights issue aims to raise gross proceeds of up to approximately **HK$8.25 million** (assuming full subscription of the rights issue)[40](index=40&type=chunk) [Directors' and Chief Executive's Interests](index=19&type=section&id=%E8%91%A3%E4%BA%8B%E5%8F%8A%E4%B8%BB%E8%A6%81%E8%82%A1%E6%9D%B1%E6%AC%8A%E7%9B%8A) This section discloses the interests of directors and major shareholders in the Company's and its associated corporations' shares, with Mr. Cheuk Sin Cheung and Ms. Au Ching Mei jointly holding 56.36% of the Company's shares through Man Yi Group Limited [Directors' and Chief Executive's Interests and/or Short Positions in the Shares, Underlying Shares and Debentures of the Company or its Associated Corporations](index=19&type=section&id=%E8%91%A3%E4%BA%8B%E5%8F%8A%E6%9C%80%E9%AB%98%E8%A1%8C%E6%94%BF%E4%BA%BA%E5%93%A1%E6%96%BC%E6%9C%AC%E5%85%AC%E5%8F%B8%E6%88%96%E5%85%B6%E7%9B%B8%E8%81%AF%E6%B3%95%E5%9C%98%E4%B9%8B%E8%82%A1%E4%BB%BD%E3%80%81%E7%9B%B8%E9%97%9C%E8%82%A1%E4%BB%BD%E5%8F%8A%E5%82%B5%E5%88%B8%E7%9A%84%E6%AC%8A%E7%9B%8A%E5%8F%8A%E2%88%95%E6%B7%A1%E5%80%89) This sub-section details the long positions held by directors in the Company's shares, primarily through controlled corporations Directors' Long Positions in the Shares of the Company | Name of Director | Capacity/Nature of Interest | Number of Ordinary Shares in which Long Position is Held | Percentage of Total Shares | | :--- | :--- | :--- | :--- | | Mr. Cheuk Sin Cheung | Interest in a controlled corporation | 93,000,000 | 56.36% | | Ms. Au Ching Mei | Interest in a controlled corporation | 93,000,000 | 56.36% | - **93,000,000** shares of the Company are registered in the name of Man Yi Group Limited, whose entire issued share capital is legally and beneficially owned in equal shares by Mr. Cheuk Sin Cheung and Ms. Au Ching Mei[42](index=42&type=chunk) [Substantial Shareholders' Interests and/or Short Positions in the Shares and Underlying Shares of the Company](index=21&type=section&id=%E4%B8%BB%E8%A6%81%E8%82%A1%E6%9D%B1%E6%96%BC%E6%9C%AC%E5%85%AC%E5%8F%B8%E4%B9%8B%E8%82%A1%E4%BB%BD%E5%8F%8A%E7%9B%B8%E9%97%9C%E8%82%A1%E4%BB%BD%E7%9A%84%E6%AC%8A%E7%9B%8A%E5%8F%8A%E2%88%95%E6%B7%A1%E5%80%89) This sub-section outlines the long positions held by substantial shareholders in the Company's shares Substantial Shareholders' Long Positions in the Shares of the Company | Name | Capacity/Nature of Interest | Number of Ordinary Shares in which Long Position is Held | Percentage of Total Shares | | :--- | :--- | :--- | :--- | | Man Yi Group Limited | Beneficial interest | 93,000,000 | 56.36% | [Purchase, Sale or Redemption of the Company's Listed Securities](index=21&type=section&id=%E8%B3%BC%E8%B2%B7%E3%80%81%E5%87%BA%E5%94%AE%E6%88%96%E8%B4%96%E5%9B%9E%E6%9C%AC%E5%85%AC%E5%8F%B8%E4%B8%8A%E5%B8%82%E8%AD%89%E5%88%B8) During the reporting period, neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's listed securities - During the reporting period, neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's listed securities[45](index=45&type=chunk) [Material Investments and Plans for Capital Assets](index=21&type=section&id=%E9%87%8D%E5%A4%A7%E6%8A%95%E8%B3%87%E5%8F%8A%E8%B3%87%E6%9C%AC%E8%B3%87%E7%94%A2%E8%A8%88%E5%8A%83) During the reporting period, the Group made no material investments, acquisitions, or disposals of subsidiaries, associates, and joint ventures, and has no other significant investment or capital asset plans for the coming year [Material Investments Held, Material Acquisitions or Disposals of Subsidiaries, Associates and Joint Ventures](index=21&type=section&id=%E6%89%80%E6%8C%81%E9%87%8D%E5%A4%A7%E6%8A%95%E8%B3%87%E3%80%81%E9%87%8D%E5%A4%A7%E6%94%B6%E8%B3%BC%E6%88%96%E5%87%BA%E5%94%AE%E9%99%84%E5%B1%AC%E5%85%AC%E5%8F%B8%E3%80%81%E8%81%AF%E7%87%9F%E5%85%AC%E5%8F%B8%E5%8F%8A%E5%90%88%E7%87%9F%E4%BC%81%E6%A5%AD) During the reporting period, the Company had no material investments, acquisitions, or disposals of subsidiaries, associates, and joint ventures - During the reporting period, the Company had no material investments, material acquisitions, or disposals of subsidiaries, associates, and joint ventures[45](index=45&type=chunk) [Future Plans for Material Investments or Capital Assets](index=21&type=section&id=%E9%87%8D%E5%A4%A7%E6%8A%95%E8%B3%87%E6%88%96%E8%B3%87%E6%9C%AC%E8%B3%87%E7%94%A2%E4%B9%8B%E6%9C%AA%E4%BE%86%E8%A8%88%E5%8A%83) Apart from what is disclosed in this interim report, the Group has no other significant investment or capital asset plans for the next year - Save as disclosed in this interim report, the Group has no other material investment or capital asset plans for the next year[46](index=46&type=chunk) [Share Option Scheme](index=21&type=section&id=%E8%B3%BC%E8%82%A1%E6%AC%8A%E8%A8%88%E5%8A%83) The Company adopted a share option scheme in 2018 to incentivize employees and attract talent, valid for 10 years, with total shares granted not exceeding 10% of issued shares, and no options granted or outstanding as of June 30, 2024 - The Share Option Scheme was approved and adopted by shareholders on **June 20, 2018**, with a validity period of **10 years**, aiming to provide incentives and attract high-caliber employees[47](index=47&type=chunk) - The total number of shares involved in share options granted under the scheme shall not exceed **10%** of the issued shares at any time[48](index=48&type=chunk) - No share options have been granted since the adoption of the scheme, and as of **June 30, 2024**, the Company had no outstanding share options under the Share Option Scheme[48](index=48&type=chunk) [Corporate Governance](index=22&type=section&id=%E4%BC%81%E6%A5%AD%E7%AE%A1%E6%B2%BB) The Group generally complied with the Corporate Governance Code during the reporting period, though the roles of Chairman and CEO are held by the same person, which the Board believes is in the Group's best interest, and the Audit Committee has reviewed the interim results for compliance with accounting standards [Competition and Conflicts of Interest](index=22&type=section&id=%E7%AB%B6%E7%88%AD%E5%8F%8A%E5%88%A9%E7%9B%8A%E8%A1%9D%E7%AA%81) During the reporting period, no directors, management shareholders, or substantial shareholders engaged in any business competing or potentially competing with the Group, nor did they have any other conflicts of interest - During the reporting period, none of the Company's Directors, management shareholders, or substantial shareholders, or any of their respective associates, engaged in any business that competes or may compete with the Group's business or had any other conflicts of interest with the Group[49](index=49&type=chunk) [Corporate Governance Code](index=22&type=section&id=%E4%BC%81%E6%A5%AD%E7%AE%A1%E6%B2%BB%E5%AE%88%E5%89%87) The Company complied with the Corporate Governance Code provisions, except for the combined roles of Chairman and Chief Executive Officer, which the Board deems beneficial for consistent leadership and the Group's best interests - The Company has complied with the code provisions of the Corporate Governance Code set out in Appendix C1 to the GEM Listing Rules, except for the roles of Chairman and Chief Executive Officer being performed by the same individual (Mr. Cheuk Sin Cheung)[50](index=50&type=chunk) - The Board believes that Mr. Cheuk Sin Cheung serving concurrently as Chairman of the Board and Chief Executive Officer of the Company is beneficial to the Group's business, strengthens stable and consistent leadership, and is in the best interests of the Group[50](index=50&type=chunk) [Code of Conduct for Securities Transactions by Directors](index=23&type=section&id=%E8%91%A3%E4%BA%8B%E9%80%B2%E8%A1%8C%E8%AD%89%E5%88%B8%E4%BA%A4%E6%98%93%E4%B9%8B%E6%93%8D%E5%AE%88%E5%AE%88%E5%89%87) The Company adopted a code of conduct for directors' securities transactions, no less exacting than the GEM Listing Rules, and confirmed directors' compliance during the reporting period - The Company has adopted a code of conduct for securities transactions by Directors, the terms of which are no less exacting than the required standard of dealings set out in Rules 5.48 to 5.67 of the GEM Listing Rules[51](index=51&type=chunk) - Following specific enquiries, the Company confirmed that the Directors have complied with the required standard of dealings and the code of conduct for securities transactions by Directors during the reporting period[51](index=51&type=chunk) [Audit Committee](index=23&type=section&id=%E5%AF%A9%E6%A0%B8%E5%A7%94%E5%93%A1%E6%9C%83) The Audit Committee's primary duties include recommending external auditors, reviewing financial statements, advising on financial reporting, and overseeing internal controls, having reviewed the unaudited interim results and confirmed their compliance with applicable accounting standards and GEM Listing Rules - The primary duties of the Audit Committee are mainly to make recommendations to the Board on the appointment and removal of external auditors, review financial statements and related information, advise on financial reporting procedures, and oversee the Group's internal control procedures[52](index=52&type=chunk) - The Audit Committee has reviewed the Group's unaudited consolidated results for the reporting period and is of the opinion that they were prepared in accordance with applicable accounting standards and the GEM Listing Rules, and that adequate disclosures have been made[52](index=52&type=chunk) [Forward-Looking Statements](index=23&type=section&id=%E5%89%8D%E7%9E%BB%E6%80%A7%E9%99%B3%E8%BF%B0) This interim report contains forward-looking statements regarding the Group's future financial condition, operating results, and business, which are based on various assumptions and subject to risks, uncertainties, and assumptions, and are not guarantees of future performance - This interim report contains forward-looking statements regarding the Group's financial condition, operating results, and business[53](index=53&type=chunk) - These statements reflect the Group's views on future events, are not guarantees of future performance, and are subject to certain risks, uncertainties, and assumptions[53](index=53&type=chunk)

Financial Performance - Revenue for the six months ended June 30, 2024, was approximately HKD 51.81 million, a decrease of about 59.24% compared to HKD 127.12 million for the same period in 2023[8] - Loss attributable to owners of the company for the reporting period was approximately HKD 8.97 million, compared to a profit of HKD 1.32 million for the same period in 2023[8] - Basic loss per share for the reporting period was approximately HKD 0.0544, compared to basic earnings per share of HKD 0.0080 for the same period in 2023[8] - The company recorded a loss of HKD 8,972 thousand for the six months ended June 30, 2024, compared to a profit of HKD 1,235 thousand in the same period of 2023, reflecting a negative shift in performance[10] - The company reported a total comprehensive loss of HKD 4,232 thousand for the six months ended June 30, 2024, compared to a total comprehensive income of HKD 1,554 thousand in the previous year[13] - The company’s basic and diluted loss per share for the six months ended June 30, 2024, was HKD 5.44, compared to earnings of HKD 0.80 per share in the same period of 2023[10] Revenue Breakdown - For the six months ended June 30, 2024, the company reported revenue of HKD 127,122 thousand, a significant increase from HKD 92,311 thousand for the same period in 2023, representing a growth of approximately 37.7%[10] - Total revenue for the six months ended June 30, 2024, was HKD 51,811 thousand, a decrease of 59.3% compared to HKD 127,122 thousand for the same period in 2023[19] - Revenue from finished watches was HKD 16,568 thousand, down 82.0% from HKD 91,914 thousand in the previous year[20] - Revenue from ODM segment was the only operational segment reported, with no other segments contributing to revenue[18] - The company’s geographical revenue breakdown shows significant contributions from Asia (HKD 32,536 thousand) and South America (HKD 10,992 thousand) for the current period[19] Assets and Liabilities - Total assets as of June 30, 2024, amounted to HKD 127,370 thousand, a decrease from HKD 134,072 thousand as of December 31, 2023, showing a decline of approximately 5.5%[11] - The company's current liabilities decreased to HKD 126,235 thousand as of June 30, 2024, from HKD 130,875 thousand at the end of 2023, representing a reduction of about 3.6%[11] - Trade receivables (net of expected credit loss) increased to HKD 30,499 thousand as of June 30, 2024, compared to HKD 17,599 thousand at the end of 2023[25] - Trade payables decreased to HKD 21,865 thousand as of June 30, 2024, from HKD 23,924 thousand at the end of 2023[26] - Trade payables as of June 30, 2024, totaled HKD 22.66 million, a decrease from HKD 28.42 million as of December 31, 2023[29] Cash Flow - Cash and cash equivalents at the end of June 30, 2024, were HKD 627 thousand, a significant drop from HKD 13,804 thousand at the end of 2023, indicating a decrease of approximately 95.5%[11] - The net cash used in operating activities for the six months ended June 30, 2024, was HKD 28,248 thousand, compared to HKD 22,557 thousand for the same period in 2023, reflecting an increase in cash outflow of about 25.5%[15] - The company's cash and bank balances were approximately HKD 0.63 million as of June 30, 2024, down from HKD 11.36 million a year earlier[35] Management and Governance - The company’s board believes that the current management structure, with the same individual serving as both chairman and CEO, is beneficial for effective business planning and decision-making[51] - The company has adopted a code of conduct for securities trading by directors, ensuring compliance with GEM listing rules during the reporting period[52] - The Audit Committee was established on June 20, 2018, in accordance with GEM Listing Rules, with members including Mr. Yu Shou Ning, Ms. Yu Wei Fang, Dr. Liao Yi Rong, and Mr. Ye Yi Lin[53] - The Audit Committee's primary responsibilities include recommending the appointment and removal of external auditors, reviewing financial statements, and overseeing internal control procedures[53] - The financial information in the interim report has not been audited but has been reviewed by the Audit Committee, which believes the performance is prepared in accordance with applicable accounting standards[53] Future Outlook - The company plans to focus on core business development and improve product design to maximize long-term returns for shareholders[31] - The company has no major investment or capital asset plans for the upcoming year beyond what has been disclosed in the interim report[47] - The interim report contains forward-looking statements based on various assumptions regarding the group's current and future business strategies and operating environment[54] Market Conditions - The watch industry confidence index dropped from 48.8 in Q2 2023 to 41.3 in Q2 2024, indicating a decline in market sentiment[31] Shareholder Information - As of June 30, 2024, the company’s directors and senior management hold a total of 93,000,000 shares, representing 56.36% of the total share capital[43] - There were no interim dividends declared for the reporting period, consistent with the previous year[33] - The share option plan allows for a maximum of 100,000,000 shares to be issued, which constitutes 10% of the company's issued shares[49] Securities Transactions - The company did not engage in any purchases, sales, or redemptions of its listed securities during the reporting period[46] - There were no significant investments, acquisitions, or disposals of subsidiaries, associates, or joint ventures during the reporting period[46]

Financial Performance - The group's revenue for the year ended December 31, 2023, was approximately HKD 185.67 million, a decrease of about 31.88% compared to HKD 272.56 million for the year ended December 31, 2022[20][23]. - Gross profit decreased by approximately HKD 12.90 million or about 22.95% to approximately HKD 43.32 million for the year ended December 31, 2023, compared to approximately HKD 56.22 million for the year ended December 31, 2022[26]. - The pre-tax loss increased by approximately HKD 18.74 million, resulting in a pre-tax loss of approximately HKD 29.26 million for the year ended December 31, 2023, compared to approximately HKD 10.52 million for the year ended December 31, 2022[30]. - The net loss for the year ended December 31, 2023, was approximately HKD 19.93 million, compared to approximately HKD 11.12 million for the year ended December 31, 2022[32]. - The income tax expense increased by approximately HKD 0.59 million or about 98.33% to approximately HKD 1.19 million for the year ended December 31, 2023, compared to approximately HKD 0.60 million for the year ended December 31, 2022[31]. Cost Management - The cost of sales decreased to approximately HKD 142.35 million, down about 34.20% from HKD 216.34 million in the previous year, primarily due to the reduction in revenue[24]. - Administrative expenses decreased by approximately HKD 8.84 million or about 15.39% to approximately HKD 48.60 million for the year ended December 31, 2023, compared to approximately HKD 57.44 million for the year ended December 31, 2022[28]. - The group aims to maintain strict control over operating costs and improve operational efficiency to enhance profitability[13]. Market Outlook - The outlook for overseas markets remains uncertain, with risks of economic slowdown or recession posing challenges for future export performance[14][22]. - The company will closely monitor market trends in Southeast Asia, where demand for automatic and quartz watches remains strong[14]. - The Hong Kong Trade Development Council's export index rose from 29.7 in Q4 2022 to 35.0 in Q4 2023, indicating a slight improvement in export confidence[13]. Corporate Governance - The board consists of five members, including two executive directors and three independent non-executive directors, ensuring a diverse composition[77][78]. - The company has confirmed that all independent non-executive directors are independent according to the GEM Listing Rules[88]. - The audit committee held four meetings during the reporting period to review the group's accounting standards and discuss audit, internal control, risk management, and financial reporting matters[91]. - The company has established sufficient checks and balances to ensure effective governance despite deviations from certain corporate governance codes[86]. Shareholder Relations - The company expresses gratitude to the board, shareholders, and employees for their support and contributions[17]. - The board is committed to a sustainable dividend policy, balancing shareholder interests with prudent capital management[112]. - The company has implemented a shareholder communication policy to ensure timely and clear information dissemination to shareholders and potential investors[115]. - The company encourages shareholder participation in annual general meetings as a platform for communication with the board[116]. Risk Management - The company acknowledges the impact of rising interest rates by the US Federal Reserve, which may lead to increased market volatility and higher capital costs[14]. - The board believes that the major risks of the group are controlled at an acceptable level, with management continuing to monitor residual risks and report regularly to the board[109]. - Financial risks are detailed in the consolidated financial statements, indicating potential vulnerabilities[173]. Employee and Diversity Initiatives - Approximately 63.96% of the company's overall workforce is female, with ongoing efforts to maintain this ratio[84]. - The company has taken measures to promote gender diversity at all levels, including the board and senior management[83]. - The company adopts a people-oriented approach, focusing on human resource management and providing attractive compensation and career development opportunities for employees[162]. Compliance and Legal Matters - The company maintained compliance with all relevant laws and regulations, with no violations reported for the year ended December 31, 2023[160]. - The company has received confirmation from major shareholders regarding compliance with the non-competition agreement since the listing date[67]. - The company has adopted a code of conduct for securities trading, confirming compliance with the GEM Listing Rules for the year ending December 31, 2023[72]. Strategic Initiatives - The company plans to focus on enhancing product design and development capabilities to maximize long-term returns for shareholders[15]. - New product launches are expected to contribute an additional $200 million in revenue, with a focus on smartwatches and wearable technology[126]. - The company is expanding its market presence in Southeast Asia, targeting a 25% market share in the region by 2025[126]. - Research and development expenses increased by 30%, totaling $150 million, to support innovation in product design[126].

Financial Performance - For the year ended December 31, 2023, the company reported total revenue of HKD 185,667,000, a decrease of 31.9% compared to HKD 272,555,000 in 2022[6] - The gross profit for the same period was HKD 43,315,000, down 22.9% from HKD 56,218,000 in the previous year[6] - The company recorded a net loss of HKD 19,932,000 for the year, compared to a net loss of HKD 11,118,000 in 2022, representing an increase in loss of 79.5%[6] - Revenue from finished watches was HKD 121,699,000, a decline of 44.9% from HKD 220,579,000 in the previous year[25] - The group reported a pre-tax loss of HKD 21,918,000 for the year ended December 31, 2023, compared to a loss of HKD 24,781,000 in 2022[29] - The company reported a loss attributable to shareholders of HKD 19,764,000 for 2023, compared to a loss of HKD 10,646,000 in 2022, indicating an increase in losses of approximately 85.5%[34] - The group recorded a pre-tax loss of approximately HKD 29.26 million for the year ended December 31, 2023, compared to a pre-tax loss of approximately HKD 10.52 million for the year ended December 31, 2022[59] Assets and Liabilities - Total assets decreased to HKD 202,594,000 in 2023 from HKD 245,659,000 in 2022, reflecting a decline of 17.5%[7] - Current liabilities were reported at HKD 130,875,000, down from HKD 150,878,000 in the previous year, indicating a decrease of 13.3%[7] - Non-current assets decreased to HKD 68,522,000 from HKD 75,945,000, a decline of 9.7%[7] - The company's equity attributable to owners decreased to HKD 18,681,000 from HKD 39,377,000, a drop of 52.6%[8] - Trade receivables decreased to HKD 17,599,000 in 2023 from HKD 22,284,000 in 2022, reflecting a decline of about 21.1%[35] - Trade payables decreased to HKD 23,924,000 in 2023 from HKD 39,258,000 in 2022, representing a reduction of about 39.0%[37] - The total borrowings increased to HKD 120,219,000 in 2023 from HKD 104,874,000 in 2022, marking an increase of approximately 14.6%[40] Revenue Sources - Revenue from major customers included Customer A contributing HKD 70,173,000 (down 55.2% from HKD 156,686,000) and Customer B contributing HKD 48,226,000 (up 39.7% from HKD 34,519,000) for the year ended December 31, 2023[23] - The group’s revenue from Asia was HKD 146,148,000, a significant decrease of 38.1% from HKD 236,014,000 in 2022[22] Cost and Expenses - Cost of sales decreased from approximately HKD 216.34 million to approximately HKD 142.35 million, a reduction of about 34.20%[53] - The group’s total employee costs, excluding directors' remuneration, were HKD 10,565,000, down from HKD 12,346,000 in the previous year, reflecting a decrease of 14.4%[29] - Interest expenses increased to HKD 9,124,000 in 2023 from HKD 6,754,000 in 2022, marking an increase of 35.5%[28] - The income tax expense increased by approximately 98.33%, from about HKD 0.60 million to approximately HKD 1.19 million, primarily due to increased corporate income tax in China[60] Shareholder Information - The basic and diluted loss per share for the year was HKD (11.98), compared to HKD (7.13) in 2022, reflecting a worsening in performance[6] - The company did not declare any dividends for 2023, consistent with the previous year where no dividends were paid[43] - The company’s weighted average number of ordinary shares increased to 165,000,000 in 2023 from 149,307,000 in 2022, reflecting a growth of approximately 10.5%[34] - The board of directors does not recommend the payment of a final dividend for the year ended December 31, 2023, consistent with the previous year[99] Corporate Governance and Compliance - The company has complied with the corporate governance code, except for a deviation regarding the roles of the chairman and CEO being held by the same individual[100] - The company has confirmed that there have been no breaches of the non-competition agreement by the controlling shareholders since the listing date[97] - The independent non-executive directors have reviewed the compliance of controlling shareholders with the non-competition agreement and confirmed no violations[94] - The company has adopted a code of conduct for directors' securities trading, confirming compliance with trading regulations as of December 31, 2023[103] Future Outlook and Strategy - The company continues to focus on ODM manufacturing for global watch brands, indicating ongoing commitment to its core business despite financial challenges[10] - The outlook for overseas markets remains uncertain, with risks of economic slowdown or recession posing challenges for future export performance[48] - The group plans to focus on core business and enhance product design and development capabilities to maximize long-term returns for shareholders[62] Financial Reporting Standards - The new and revised Hong Kong Financial Reporting Standards became effective on January 1, 2023, but did not have a significant impact on the group's financial position or performance for the current and prior years [12] - The group has not yet applied the newly issued but not yet effective revised Hong Kong Financial Reporting Standards, which are expected to have no significant impact on the consolidated financial statements in the foreseeable future [17] - The consolidated financial statements were prepared in accordance with the Hong Kong Financial Reporting Standards and the applicable disclosure requirements of the Hong Kong Stock Exchange [18] - The financial statements are primarily based on historical cost, except for certain industries and financial instruments measured at fair value [19] Audit and Review - The financial data has been reviewed by the audit committee and approved by the board, with external auditor Tianjian International agreeing with the figures presented in the audited financial statements[105] - The consolidated financial statements for the year ending December 31, 2023, have been verified by the group's auditor, Tianjian International, although no assurance opinion has been expressed on the preliminary results announcement[106] - The annual performance announcement for the fiscal year ending December 31, 2023, has been published on the Hong Kong Stock Exchange and the company's website[108] - The company will send the annual report containing all relevant information as per GEM listing rules to shareholders at an appropriate time[108]

Financial Performance - Revenue for the nine months ended September 30, 2023, was approximately HKD 143.61 million, a decrease of about 30.86% compared to HKD 207.71 million for the same period in 2022[6] - The loss attributable to owners of the company for the nine months ended September 30, 2023, was approximately HKD 6.03 million, compared to a profit of HKD 2.64 million for the same period in 2022[6] - Basic loss per share for the nine months ended September 30, 2023, was approximately HKD 3.66 cents, compared to earnings of HKD 1.60 cents for the same period in 2022[6] - Gross profit for the nine months ended September 30, 2023, was approximately HKD 40.15 million, down from HKD 50.33 million for the same period in 2022[7] - The company reported a pre-tax loss of approximately HKD 5.42 million for the nine months ended September 30, 2023, compared to a pre-tax profit of HKD 2.57 million for the same period in 2022[7] - Total comprehensive loss for the nine months ended September 30, 2023, was approximately HKD 8.50 million, compared to a total comprehensive loss of HKD 4.63 million for the same period in 2022[8] - Revenue from finished watches for the nine months ended September 30, 2023, was HKD 93.70 million, down from HKD 168.31 million in 2022, representing a decline of approximately 44.4%[16] - Revenue from component kits increased to HKD 45.95 million for the nine months ended September 30, 2023, compared to HKD 34.97 million in 2022, marking an increase of about 31.5%[16] - The group reported a pre-tax loss of approximately HKD 6.03 million for the nine months ended September 30, 2023, compared to a profit of HKD 2.64 million in the same period of 2022[24] - The group’s revenue from Asia for the nine months ended September 30, 2023, was HKD 119.23 million, a decrease of approximately 34.1% from HKD 180.71 million in 2022[15] Cash and Financial Position - The company’s cash and cash equivalents as of September 30, 2023, were approximately HKD 30.16 million[8] - As of September 30, 2023, the group's cash and cash equivalents were approximately HKD 5.28 million, down from HKD 19.26 million as of September 30, 2022[39] - The group's current ratio as of September 30, 2023, was approximately 1.09, compared to 1.03 as of September 30, 2022[39] - The debt-to-equity ratio as of September 30, 2023, was approximately 378.21%, up from 170.11% as of September 30, 2022[40] Operational Focus and Strategy - The company plans to continue focusing on ODM manufacturing and expanding its distribution channels in the global watch market[10] - The group plans to continue focusing on core business development and improving product design to maximize long-term returns for shareholders[34] - The group will closely monitor market developments due to the uncertain business environment and potential economic slowdown in overseas markets[33] Market Conditions and Outlook - Future outlook remains cautious due to market volatility and competition in the watch manufacturing sector[10] - The group reported a significant decline in the watch industry index, dropping from 48.8 in Q2 2023 to 32.9 in Q3 2023, indicating weakened global demand and ongoing geopolitical tensions[31] Corporate Governance and Compliance - The company's share option plan was approved on June 20, 2018, and is valid for 10 years, aimed at rewarding contributions from eligible personnel[57] - The total number of shares involved in the share options granted cannot exceed 10% of the issued shares at any time without prior shareholder approval[57] - The company has adopted a code of conduct for directors' securities transactions, confirming compliance during the reporting period[62] - The audit committee was established on June 20, 2018, to review financial statements and oversee internal control procedures[63] - The financial information in the quarterly report has not been audited but has been reviewed by the audit committee[63] Dividends and Shareholder Returns - The group did not declare any dividends for the nine months ended September 30, 2023, consistent with the previous year[23] - The board decided not to declare any dividends during the reporting period[37] Other Information - The group has no capital commitments as of September 30, 2023[41] - No significant investments, acquisitions, or disposals of subsidiaries, associates, or joint ventures during the reporting period[55] - No major investment or capital asset plans for the upcoming year beyond those disclosed in the quarterly report[56] - The group incurred depreciation expenses of HKD 3.78 million for property, plant, and equipment for the nine months ended September 30, 2023, down from HKD 4.12 million in 2022[18] - The group is subject to a corporate income tax rate of 25% for its subsidiaries established in China[19] - The Hong Kong profits tax rate applicable to the group is 16.5%, with a two-tiered system allowing for a reduced rate of 8.25% on the first HKD 2 million of profits[21] - The quarterly report contains forward-looking statements based on various assumptions regarding the company's future business strategies and operating environment[65] - The board believes that the current management structure is effective despite deviations from corporate governance codes[61] - The company has not granted any share options since the plan was adopted on June 28, 2018[58]

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，並表明概不對因本公告全部或 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。 HANVEY GROUP HOLDINGS LIMITED 恆 偉 集 團 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：8219） 截 至2023年9月30日 止 九 個 月 的 第 三 季 度 業 績 公 告 恆偉集團控股有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然宣佈本公司及 其附屬公司截至2023年9月30日止九個月的未經審核第三季度業績。本公告載 有本公司2023年第三季度報告全文，符合香港聯合交易所有限公司GEM證券上 市規則（「GEM上市規則」）有關第三季度業績初步公告所附載資料的相關要求。 承董事會命 恆偉集團控股有限公司 主席、行政總裁兼執行董事 卓善章 香港，2023年11月13日 於本公告日期，執行董事為卓善章先生及歐靜美女士，M.H.；以及獨立非執行 董事為余壽寧先生，M.H.、趙志鵬先生、余惠芳女士及廖毅榮博士。 本公告乃遵照GEM上市規則之規定 ...

Financial Performance - The revenue for the six months ended June 30, 2023, was approximately HKD 127.12 million, a decrease of about 5.61% compared to HKD 134.67 million for the same period in 2022[10] - The profit attributable to owners of the company for the reporting period was approximately HKD 1.32 million, down from HKD 3.87 million in the same period of 2022[10] - Basic earnings per share for the reporting period were approximately HKD 0.80 cents, compared to HKD 2.58 cents for the same period in 2022[10] - The gross profit margin for the six months ended June 30, 2023, was approximately 27.4%, down from 26.5% in the same period of 2022[11] - The company reported a net loss of HKD 1,554,000 for the six months ended June 30, 2023, compared to a net profit of HKD 3,578,000 in the same period of 2022[16] - The sales of finished watches amounted to HKD 91.91 million for the six months ended June 30, 2023, down from HKD 109.38 million in 2022, representing a decline of approximately 16%[26] - The group recorded a gross profit of approximately HKD 34.81 million for the six months ended June 30, 2023, a decrease of about 2.68% compared to the same period in 2022, primarily due to a decline in sales[49] Assets and Liabilities - Non-current assets as of June 30, 2023, totaled approximately HKD 71.38 million, a decrease from HKD 75.95 million as of December 31, 2022[12] - Current assets decreased to approximately HKD 166.34 million from HKD 169.71 million as of December 31, 2022[12] - Trade receivables increased to approximately HKD 37.35 million from HKD 22.28 million as of December 31, 2022[12] - Trade payables decreased to approximately HKD 59.95 million from HKD 93.68 million as of December 31, 2022[12] - The company reported a net current asset of approximately HKD 20.80 million, an increase from HKD 18.84 million as of December 31, 2022[12] - The company's net assets as of June 30, 2023, were HKD 37,108,000, down from HKD 38,662,000 as of December 31, 2022, representing a decrease of 4.0%[14] - The company's equity attributable to owners decreased to HKD 37,906,000 as of June 30, 2023, from HKD 39,377,000 as of December 31, 2022, reflecting a decline of 3.7%[14] Cash Flow - Operating cash flow for the first half of 2023 was a net cash outflow of HKD 22,557,000, compared to a net cash inflow of HKD 2,228,000 in the same period of 2022[18] - Cash and cash equivalents at the end of June 2023 were HKD 11,358,000, a decrease from HKD 13,479,000 at the end of June 2022[18] - Financing activities generated a net cash inflow of HKD 23,546,000 in the first half of 2023, compared to HKD 8,961,000 in the same period of 2022[18] - As of June 30, 2023, the group's cash and bank balances were approximately HKD 11.36 million, down from HKD 13.48 million as of June 30, 2022[52] Market Performance - Revenue from the Indian market increased significantly to HKD 26,798,000 in the first half of 2023, up 50.5% from HKD 17,807,000 in the same period of 2022[25] - The company experienced a significant decline in revenue from Hong Kong, which fell to HKD 9,689,000 in the first half of 2023, down 39.0% from HKD 15,959,000 in the same period of 2022[25] Expenses and Costs - Administrative expenses decreased by approximately HKD 0.45 million or about 1.61% to approximately HKD 27.46 million during the reporting period, mainly due to reduced advertising and promotion costs[49] - Financial costs increased by approximately HKD 1.59 million or about 56.99% to approximately HKD 4.38 million, primarily due to rising interest rates from banks[49] - The company incurred depreciation expenses of HKD 2.65 million for property, plant, and equipment for the six months ended June 30, 2023, slightly down from HKD 2.76 million in 2022[27] Corporate Governance and Strategy - The company is focused on enhancing operational efficiency and exploring new market opportunities to drive future growth[10] - The company has not reported any significant new product developments or market expansions during this period[23] - The group will continue to focus on developing core businesses and improving product design to maximize long-term returns for shareholders[47] - The board did not declare an interim dividend for the reporting period, compared to zero in 2022[50] - The company has established an audit committee in accordance with GEM Listing Rules, responsible for reviewing financial statements and overseeing internal control procedures[76] Miscellaneous - The company has a stock option plan approved on June 20, 2018, valid for 10 years, aimed at rewarding contributions and attracting high-quality employees[70] - The total number of shares involved in stock options granted cannot exceed 10% of the issued shares at any time without prior shareholder approval[70] - The interim report contains forward-looking statements based on various assumptions regarding the company's future business strategies and operating environment[78] - The group has no capital commitments as of June 30, 2023[54] - The group has no significant contingent liabilities as of June 30, 2023[60] - No significant investments, acquisitions, or disposals of subsidiaries, associates, or joint ventures during the reporting period[68] - No major investment or capital asset plans for the upcoming year beyond those disclosed in the interim report[69]

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，並表明概不對因本公告全部或 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。 HANVEY GROUP HOLDINGS LIMITED 恆 偉 集 團 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：8219） 截 至2023年6月30日 止 六 個 月 的 中 期 業 績 公 告 恆偉集團控股有限公司（「本公司」）董事（「董事」）會（「董事會」）謹此宣佈本公司 及其附屬公司截至2023年6月30日止六個月的未經審核中期業績。本公告載有 本公司2023年中期報告全文，符合香港聯合交易所有限公司GEM證券上市規則 （「GEM上市規則」）有關中期業績初步公告所附載資料的相關要求。 承董事會命 恆偉集團控股有限公司 主席、行政總裁兼執行董事 卓善章 香港，2023年8月14日 於本公告日期，執行董事為卓善章先生及歐靜美女士，M.H.；以及獨立非執行 董事為余壽寧先生，M.H.、趙志鵬先生、余惠芳女士及廖毅榮博士。 本公告乃遵照GEM上市規則之規定提供有關本公司的資料， ...