Financial Performance - Revenue for the three months ended September 30, 2022, was HKD 346.81 million, a significant increase from HKD 137.23 million in the same period last year, representing a growth of 153%[7] - Gross profit for the same period was HKD 59.14 million, compared to HKD 33.80 million in the previous year, reflecting a gross margin improvement[7] - Operating profit for the three months ended September 30, 2022, was HKD 44.16 million, up from HKD 14.13 million year-over-year, indicating a growth of 212%[7] - Net profit attributable to owners for the three months was HKD 28.61 million, compared to HKD 8.64 million in the same period last year, marking an increase of 231%[9] - Basic earnings per share for the three months was HKD 3.88, compared to HKD 1.29 in the same period last year, reflecting a significant increase[9] - For the nine months ended September 30, 2022, total revenue reached HKD 697.07 million, up from HKD 253.06 million in the same period last year, representing a growth of 175%[7] - The company’s operating profit for the nine months was HKD 83.47 million, compared to HKD 21.99 million in the previous year, indicating a growth of 279%[7] - Profit attributable to the company's owners surged by 259.7%, rising from HKD 14.0 million to HKD 50.5 million for the nine months ended September 30, 2022[41] - The company's basic earnings per share increased to HKD 6.92 for the nine months ended September 30, 2022, compared to HKD 2.10 for the same period in 2021[34] - The diluted earnings per share for the nine months ended September 30, 2022, was HKD 6.87, compared to HKD 2.08 in the same period of 2021[38] Comprehensive Income - The company reported a total comprehensive income of HKD (24.44) million for the three months, down from HKD 10.80 million in the previous year, primarily due to foreign exchange losses[9] - The total comprehensive income for the nine months was HKD (29.02) million, compared to HKD 20.20 million in the previous year, impacted by foreign exchange fluctuations[9] Revenue Breakdown - The energy storage business generated revenue of HKD 140,987 thousand for the nine months ended September 30, 2022, compared to HKD 72,569 thousand in the previous year, marking an increase of about 94%[22] - The EPC services segment reported revenue of HKD 469,985 thousand for the nine months ended September 30, 2022, up from HKD 104,789 thousand in the same period of 2021, reflecting a growth of approximately 348%[22] - Revenue from energy storage business increased to HKD 141.0 million for the nine months ended September 30, 2022, compared to HKD 72.6 million in the same period of 2021, driven by higher sales of industrial energy storage systems[54] - Revenue from the new photovoltaic film business reached HKD 28.4 million for the nine months ended September 30, 2022, following its launch in Q4 2021[54] Expenses and Costs - The company reported a total tax expense of HKD 21,759 thousand for the nine months ended September 30, 2022, compared to HKD 6,683 thousand in the same period of 2021, representing an increase of approximately 226%[28] - Total revenue cost increased to HKD 556.4 million for the nine months ended September 30, 2022, from HKD 193.6 million in the same period of 2021, aligning with revenue growth[55] - Selling and marketing expenses rose to HKD 12.6 million for the nine months ended September 30, 2022, from HKD 7.8 million in the same period of 2021, mainly due to increased employee benefits and sales-related costs[60] - Administrative expenses increased to HKD 55.5 million for the nine months ended September 30, 2022, from HKD 37.8 million in the same period of 2021, driven by higher employee benefits and R&D expenditures[60] Shareholder Information - As of September 30, 2022, Dr. Li Xianyi holds 132,990,198 shares, representing approximately 16.94% of the company's issued share capital[82] - Mr. Dong Qingbo owns 48,878,216 shares, accounting for about 6.23% of the company's issued share capital[82] - The total shares held by Dr. Li Xianyi and Mr. Dong Qingbo in concerted action amount to 502,343,417 shares, which is approximately 63.99% of the company's issued share capital[82] - Mr. Li Shengdian holds 46,048,013 shares, representing about 5.87% of the company's issued share capital[82] - The total shares held by Mr. Li Shengdian in concerted action is 512,259,017 shares, which is approximately 65.25% of the company's issued share capital[82] - The company has a significant concentration of ownership, with major shareholders holding over 68% of the issued share capital collectively[86] - The company’s major shareholders include Dr. Li Xianyi, Mr. Dong Qingbo, and others, who collectively control a substantial portion of the shares[87] Corporate Governance - The company has adopted a strict code of conduct for securities trading by directors, in compliance with GEM Listing Rules[80] - No violations of the trading standards have been reported by the directors as of September 30, 2022[80] - The company has ensured no competitive business overlap with Xinyi Solar Holdings Limited, maintaining distinct geographical operations[94] - The company has adhered to the corporate governance code as per GEM listing rules during the nine months ending September 30, 2022[99] - As of September 30, 2022, there were no reported interests or potential conflicts of interest from directors or controlling shareholders in competing businesses[98] - The company’s management continues to review corporate governance standards to meet increasing regulatory requirements and stakeholder expectations[99] Future Plans - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[5] - The company plans to continue expanding its energy storage and EPC services to capitalize on market growth opportunities[22] - The company is actively developing photovoltaic film products, with production facilities being established in Wuhu, Anhui Province, and Malaysia, expected to be operational in Q4 2022[47] - The company has expanded its EPC services to Canada, successfully securing more contracts due to increased solar demand[44] Stock Options and Securities - The company granted 4,600,000 stock options under the stock option plan, with 1,500,000 options subsequently canceled, leaving a total of 14,627,788 unexercised options as of September 30, 2022[92] - The company did not purchase, sell, or redeem any of its listed securities during the nine months ending September 30, 2022[93] - The board of directors did not recommend the payment of dividends for the nine months ending September 30, 2022, consistent with the previous year[100] - The company has adopted new accounting policies effective from January 1, 2022, but has not yet determined their significant impact on performance and financial position[20] - The company is evaluating the impact of new accounting standards issued by the Hong Kong Institute of Certified Public Accountants that are yet to be effective[20]

Financial Performance - For the six months ended June 30, 2022, the company reported revenue of HKD 350,263,000, a significant increase from HKD 115,828,000 in the same period of 2021, representing a growth of 202%[11] - The gross profit for the same period was HKD 81,496,000, compared to HKD 25,635,000 in 2021, indicating a gross margin improvement[11] - The operating profit for the six months ended June 30, 2022, was HKD 39,310,000, up from HKD 7,858,000 in the previous year, reflecting a substantial increase of 400%[11] - The net profit for the period was HKD 25,946,000, compared to HKD 5,792,000 in the prior year, marking an increase of 348%[11] - Basic earnings per share for the six months ended June 30, 2022, were HKD 3.06, up from HKD 0.82 in the same period of 2021, representing a growth of 273%[13] - The company reported a total comprehensive income of HKD (4,578,000) for the six months ended June 30, 2022, compared to HKD 9,400,000 in the previous year, indicating a decline in comprehensive income[11] Assets and Liabilities - As of June 30, 2022, total assets amounted to HKD 1,049,722 thousand, an increase from HKD 972,731 thousand as of December 31, 2021, representing a growth of approximately 7.9%[15] - Non-current assets increased to HKD 646,061 thousand from HKD 475,340 thousand, reflecting a growth of about 36%[15] - Current liabilities rose to HKD 823,217 thousand, compared to HKD 543,982 thousand, indicating an increase of approximately 51.5%[15] - The company's total equity as of June 30, 2022, was HKD 766,772 thousand, slightly down from HKD 769,334 thousand as of December 31, 2021, reflecting a decrease of about 0.2%[17] Cash Flow - Cash and cash equivalents decreased to HKD 168,271 thousand from HKD 433,154 thousand, a decline of about 61%[21] - The net cash used in operating activities for the six months ended June 30, 2022, was HKD (236,261) thousand, compared to HKD (18,600) thousand for the same period in 2021, representing a significant increase in cash outflow[21] - Investment activities resulted in a net cash outflow of HKD (148,532) thousand, up from HKD (73,853) thousand in the previous year, indicating increased capital expenditures[21] - Financing activities generated a net cash inflow of HKD 125,441 thousand, compared to HKD 35,401 thousand in the prior year, showing a substantial increase in financing activities[21] Revenue Segments - Revenue from the energy storage business was HKD 66,343,000, while the EPC services generated HKD 242,698,000 in revenue[39] - The company reported external customer revenue from China at HKD 206,854,000, a significant increase from HKD 63,626,000 in the previous year[48] - The EPC services segment contributed HKD 242.7 million, a 725.5% increase from HKD 29.4 million in the previous year, driven by an increase in contracts in China and Canada[128] Expenses - The company’s administrative expenses increased to HKD 38,725,000 for the six months ended June 30, 2022, from HKD 20,096,000 in the same period of 2021[11] - The cost of inventory for the six months ended June 30, 2022, was HKD 181,152,000, significantly higher than HKD 53,317,000 in the same period of 2021[60] - Research and development expenses for the six months ended June 30, 2022, were HKD 10,904,000, compared to HKD 4,296,000 in the same period of 2021[60] Shareholder Information - As of June 30, 2022, the total shares held by the directors and senior management in the company and its associated corporations amounted to 515,973,293 shares, representing 72.31% of the company's issued share capital[166] - The company has a shareholder agreement that grants preemptive rights to other parties in case of share sales[166] - The company has adopted a code of conduct for securities trading by directors, which is at least as stringent as the GEM Listing Rules[176] Corporate Governance - The company has adhered to the corporate governance code as per GEM listing rules, continuously reviewing standards to meet regulatory expectations[197] - The company has ensured no competitive business overlap with Xinyi Solar Holdings Limited, with no shared customers reported[196] Future Outlook - The company is preparing to capitalize on the rapid growth of the energy storage industry, driven by government policies promoting energy storage commercialization[121] - The company aims to enhance product performance, reduce production costs, and improve market development capabilities to strengthen its market competitiveness[121] - The company plans to expand its EPC service business in Canada, aiming to increase market share and contributions to overall revenue[125]

Financial Performance - For the three months ended March 31, 2022, the company reported revenue of HKD 105,984,000, a significant increase of 145% compared to HKD 43,253,000 for the same period in 2021[7] - Gross profit for the same period was HKD 28,614,000, compared to HKD 6,972,000 in the previous year, reflecting a gross margin improvement[7] - Operating profit surged to HKD 8,028,000, up from HKD 690,000 year-on-year, indicating strong operational efficiency[7] - The net profit attributable to the owners of the company was HKD 3,751,000, compared to HKD 201,000 in the prior year, marking a substantial increase[9] - The total comprehensive income for the period was HKD 8,430,000, compared to a loss of HKD 2,659,000 in the same quarter of 2021[9] - Basic earnings per share increased to HKD 0.53 from HKD 0.03, demonstrating significant growth in profitability[9] - The company's revenue for the three months ended March 31, 2022, was HKD 105,984,000, a significant increase from HKD 43,253,000 in the same period last year, representing a growth of 145.5%[18] - The net profit attributable to the company's owners for the three months ended March 31, 2022, was HKD 3,751,000, compared to HKD 201,000 in the previous year, indicating a significant increase[30] - Basic earnings per share for the period were HKD 0.53, compared to HKD 0.03 in the same period last year, reflecting a growth of 1,666.7%[30] - The gross profit margin improved from 16.1% in Q1 2021 to 27.0% in Q1 2022, primarily due to higher margins from EPC services[49] Revenue Sources - The energy storage business generated revenue of HKD 20,383,000, up from HKD 18,967,000 year-over-year, reflecting a growth of 7.4%[18] - The EPC services for photovoltaic power stations saw a substantial increase in revenue to HKD 70,962,000 from HKD 5,380,000, marking a growth of 1,116.5%[18] - The energy storage business generated revenue of HKD 20.4 million, a 7.4% increase from HKD 19.0 million in the previous year[45] - The automotive glass repair and replacement services segment saw a revenue decrease of 9.4%, attributed to the impact of COVID-19 on service demand[45] Expenses and Costs - The company reported other income of HKD 976,000, down from HKD 11,470,000 in the previous year, indicating a shift in revenue sources[7] - Administrative expenses rose to HKD 19,081,000 from HKD 9,660,000, reflecting increased operational costs[7] - The income tax expense for the period was HKD 4,101,000, compared to HKD 620,000 in the same period last year, representing a significant increase[24] - Sales and marketing costs increased from HKD 1.2 million for the three months ended March 31, 2021, to HKD 3.2 million for the three months ended March 31, 2022, primarily due to an increase in employee numbers[55] - Administrative expenses rose from HKD 9.7 million for the three months ended March 31, 2021, to HKD 19.1 million for the three months ended March 31, 2022, mainly due to increased employee numbers and higher share-based compensation[55] - The increase in research and development expenses contributed to the rise in administrative expenses, indicating a focus on innovation[55] Strategic Focus and Future Guidance - The company is focusing on market expansion and new product development to sustain growth in the upcoming quarters[8] - Future guidance indicates a continued emphasis on enhancing operational efficiency and exploring strategic partnerships for growth[8] - The company is expanding its EPC services in both China and Canada, indicating a strategic focus on international markets[40] Shareholding and Corporate Governance - The company’s total issued share capital held by directors and senior management includes 40,864,638 shares (5.73%) held by Datuk Diong Ching Shih through Copark Investment Limited[58] - The company’s total issued share capital held by directors and senior management includes 510,889,293 shares (71.61%) held collectively by the concert party[58] - The company has adopted a code of conduct for securities transactions by directors, which is at least as stringent as the GEM Listing Rules[71] - The company’s shareholding structure includes significant stakes held by directors, indicating strong insider confidence[58] - The company has adhered to the corporate governance code as per GEM listing rules for the three months ending March 31, 2022[88] Audit and Compliance - The audit committee, consisting of three independent non-executive directors, has reviewed the unaudited condensed consolidated financial information for the three months ending March 31, 2022[93] - The company has not yet applied new accounting standards issued by the Hong Kong Institute of Certified Public Accountants that are not yet effective, and is currently assessing their potential impact[17] - The company did not declare any dividends for the three months ended March 31, 2022, consistent with the previous year[28] - The board of directors did not recommend any dividend for the three months ending March 31, 2022, consistent with the previous year[89] Stock Options and Securities - The company has a total of 12,815,825 stock options that remain unexercised as of March 31, 2022[84] - No stock options were granted under the plan during the three months ended March 31, 2022[84] - The company did not purchase, sell, or redeem any of its listed securities during the three months ended March 31, 2022[86] - The company ensures no competitive business exists with Xinyi Solar Holdings Limited, which is controlled by some of the same directors and major shareholders[87]

Financial Performance - The company recorded a revenue growth of 132.1%, increasing from HKD 218.1 million in 2020 to HKD 506.2 million in 2021[12]. - Profit attributable to the owners of the company rose by 214.4%, from HKD 19.9 million in 2020 to HKD 62.6 million in 2021, primarily due to increased revenue and gross profit from EPC services[12]. - The group recorded a profit before tax of HKD 87.0 million for the year ended December 31, 2021, compared to HKD 24.2 million in 2020[41]. - Profit attributable to owners increased by 214.4% from HKD 19.9 million in 2020 to HKD 62.6 million in 2021[42]. - The overall gross profit margin improved from 23.3% in 2020 to 24.9% in 2021, primarily due to higher margins from EPC services[33]. - The energy storage segment contributed HKD 101.1 million (20.0% of total revenue) in 2021, up from HKD 94.5 million (43.3%) in 2020, marking a 7.0% increase[28]. - EPC services generated HKD 309.7 million (61.2% of total revenue) in 2021, a dramatic increase of 690.1% from HKD 39.2 million (18.0%) in 2020[28]. - Revenue from the Canadian market skyrocketed by 8,846.7%, increasing from HKD 1.5 million in 2020 to HKD 134.2 million in 2021[29]. - As of December 31, 2021, the group had a distributable reserve of HKD 528.8 million, an increase from HKD 300.7 million as of December 31, 2020[128]. Business Expansion and Development - The company has expanded its lithium battery production capacity with a new facility in Jiangsu Province, which is expected to enhance competitiveness and meet the growing demand in the energy storage industry[14]. - The company established subsidiaries in Shenzhen and Xi'an to focus on the R&D of charging devices, inverters, and energy storage technologies, aiming to broaden its R&D scope[14]. - The company plans to develop a photovoltaic film production facility in Wuhu, Anhui Province, to capitalize on the expected increase in solar product demand[19]. - The company has established a subsidiary, Polaron Energy Corp., in Canada to provide EPC services for overseas markets[24]. - The company plans to promote the use of micro energy storage systems in residential buildings in Canada, which is expected to drive business growth[18]. - The company relocated its production facility to Zhangjiagang, Jiangsu Province, in March 2021[23]. Costs and Expenses - Sales and marketing costs increased from HKD 5.3 million in 2020 to HKD 11.9 million in 2021, primarily due to an increase in employee numbers and related sales activities[38]. - Administrative expenses rose from HKD 32.0 million in 2020 to HKD 62.0 million in 2021, mainly due to employee termination costs, increased employee numbers, and higher R&D expenses[38]. - Capital expenditures for the year amounted to HKD 172.7 million, significantly higher than HKD 70.5 million in 2020, primarily related to lithium battery production facilities in China[46]. Governance and Compliance - The company has adopted the corporate governance code as per GEM listing rules, ensuring compliance with applicable laws and regulations throughout the year[70]. - The board consists of two executive directors, two non-executive directors, and three independent non-executive directors, ensuring a diverse range of expertise[72]. - The company has a policy for board diversity, considering various factors such as age, culture, and professional experience[72]. - The company has adopted a strict code of conduct for securities trading by directors, in compliance with GEM listing rules[78]. - The company has established communication channels with shareholders and investors, including annual general meetings and timely performance announcements[99]. - The company has made arrangements to ensure no competitive business exists geographically with Xinyi Solar[174]. Risk Management - The group faces significant risks related to the supply and demand levels of battery packs, energy storage systems, and lithium battery products, which are influenced by macroeconomic factors and the capacity of other manufacturers[111]. - The group relies on a stable supply of raw materials necessary for production, which poses a risk to operational performance[112]. - The performance of the solar and EPC services is affected by government support for clean energy and overall macroeconomic conditions[113]. - The group has implemented environmental measures to comply with applicable Chinese environmental laws, including a solvent recovery rate exceeding 95% for air purification[106]. - The group has adopted a risk-based approach to ensure operations and resources adequately cover high-risk areas[92]. Shareholder Information - Major shareholders include Dr. Li Xianyi, who holds 119,786,909 shares (16.79%) and Mr. Dong Qingbo, who holds 44,059,821 shares (6.18%) in the company[167]. - The total number of stock options available for issuance as of March 2, 2022, is 40,737,313, representing approximately 5.7% of the company's issued ordinary shares[144]. - The company has a shareholding structure where major shareholders collectively control a significant portion of the issued share capital[172]. - The company has no arrangements for directors to benefit from acquiring shares or debt securities of the company[176]. Related Party Transactions - The group has complied with GEM Listing Rules regarding related party transactions, ensuring they are conducted on normal commercial terms[190]. - The group’s independent non-executive directors have reviewed the ongoing related party transactions, confirming they are conducted in the ordinary course of business and on fair and reasonable terms[190]. - The company entered into a renewed glass supply framework agreement with Xinyi Glass Group to purchase automotive glass products, with maximum payments of HKD 7.3 million, HKD 7.9 million, and HKD 8.6 million for the years ending December 31, 2022, 2023, and 2024 respectively[194].

Financial Performance - For the three months ended September 30, 2021, the company reported revenue of HKD 137,231 thousand, a significant increase from HKD 72,349 thousand in the same period of 2020, representing an increase of 90%[4] - The gross profit for the nine months ended September 30, 2021, was HKD 59,437 thousand, compared to HKD 33,018 thousand for the same period in 2020, reflecting an increase of 80%[4] - The operating profit for the three months ended September 30, 2021, was HKD 14,130 thousand, up from HKD 7,589 thousand in the same period of 2020, marking an increase of 86%[4] - The net profit attributable to owners of the company for the nine months ended September 30, 2021, was HKD 14,025 thousand, compared to HKD 13,355 thousand in the same period of 2020, showing a growth of 5%[6] - The total comprehensive income for the three months ended September 30, 2021, was HKD 10,802 thousand, a decrease from HKD 21,699 thousand in the same period of 2020, indicating a decline of 50%[6] - The total revenue for the nine months ended September 30, 2021, was HKD 253,059 thousand, compared to HKD 153,258 thousand in the same period of 2020, representing an increase of 65%[4] - The group’s revenue for the nine months ended September 30, 2021, was HKD 253,059 thousand, an increase of 65.3% compared to HKD 153,258 thousand for the same period in 2020[14] - The energy storage business contributed HKD 72.6 million (28.7% of total revenue), while EPC services generated HKD 104.8 million (41.4% of total revenue), marking a 248.2% increase from HKD 30.1 million in 2020[37] - The gross profit margin improved from 21.5% for the nine months ended September 30, 2020, to 23.5% for the same period in 2021, primarily due to the higher margin from EPC services at 27.7%[41] - The company reported a profit attributable to owners of HKD 14.0 million for the nine months ended September 30, 2021, compared to HKD 13.4 million in 2020, indicating improved profitability[47] Expenses and Income - The company incurred selling and marketing expenses of HKD 4,257 thousand for the three months ended September 30, 2021, compared to HKD 1,715 thousand in the same period of 2020, an increase of 148%[4] - The administrative expenses for the nine months ended September 30, 2021, were HKD 37,773 thousand, up from HKD 22,765 thousand in the same period of 2020, reflecting an increase of 66%[4] - The company reported other income of HKD 2,451 thousand for the three months ended September 30, 2021, compared to HKD 1,946 thousand in the same period of 2020, indicating an increase of 26%[4] - The group recognized other income of HKD 13,921 thousand for the nine months ended September 30, 2021, compared to HKD 3,507 thousand for the same period in 2020, indicating a significant increase[15] - The group reported a total tax expense of HKD 6,683 thousand for the nine months ended September 30, 2021, compared to HKD 463 thousand for the same period in 2020, showing a substantial increase[17] Shareholder Information - As of September 30, 2021, the company had a total of 461,393,649 shares held by major shareholders, representing approximately 71.15% of the issued share capital[60] - The company reported that Dan Sri Dato' Dong Qing Shi holds 37,039,885 shares, accounting for 5.71% of the issued share capital[49] - The company’s major shareholder, Dr. Li Xian Yi, has a total of 108,781,432 shares, which is approximately 16.78% of the issued share capital[60] - The company has a significant concentration of ownership, with the top three shareholders holding a combined total of 461,393,649 shares, or 71.15% of the issued share capital[60] - The company has a total of 132,000 unexercised share options held by Li Bi Rong, representing approximately 0.02% of the issued share capital[54] - The company has a total of 1,044,000 unexercised share options held by Cha Xue Song, representing approximately 0.16% of the issued share capital[54] - The company has a total of 4,436,100 shares held by Dan Sri Dato' Dong Qing Shi in personal capacity, representing approximately 0.68% of the issued share capital[60] - The company’s major shareholders have agreed to grant each other preemptive rights in the event of a sale of shares allocated under the company’s distribution plan[52] - The company has not received any notifications of interests in shares from individuals other than directors or senior management as of September 30, 2021[67] Corporate Governance - The company has adhered to the corporate governance code as per GEM listing rules, ensuring high standards of governance and transparency[72] - The Audit Committee has been established in compliance with GEM listing rules, consisting of three independent non-executive directors[76] - The unaudited consolidated financial information for the nine months ending September 30, 2021, has been reviewed by the Audit Committee[76] - The report is dated November 8, 2021, indicating the company's ongoing commitment to corporate governance and financial oversight[76] Operational Developments - The company relocated its production facility from Wuhu, Anhui Province to Zhangjiagang, Jiangsu Province in the first half of 2021, which is expected to enhance operational efficiency[30] - The company established a subsidiary, Polaron Energy Corp., in Canada to provide EPC services, holding a 68% stake, which supports overseas market development[31] - The company maintains a non-competitive arrangement with Xinyi Solar Holdings Limited, ensuring no overlapping customers and geographic competition[71] Dividend Policy - The company did not recommend any dividend for the nine months ended September 30, 2021, consistent with the previous year[21] - The board of directors does not recommend the payment of dividends for the nine months ended September 30, 2021, consistent with the previous year[75]

Financial Performance - For the six months ended June 30, 2021, the company reported revenue of HKD 115,828,000, a 43.1% increase from HKD 80,909,000 in the same period of 2020[12]. - Gross profit for the same period was HKD 25,635,000, representing a 56.5% increase compared to HKD 16,407,000 in 2020[12]. - Operating profit for the six months ended June 30, 2021, was HKD 7,858,000, up 157.5% from HKD 3,047,000 in the previous year[12]. - The net profit attributable to the owners of the company for the six months was HKD 5,388,000, an increase of 5.5% from HKD 5,107,000 in 2020[14]. - The total comprehensive income for the period was HKD 12,059,000, compared to HKD 6,286,000 in the same period last year, marking a 92.5% increase[14]. - Basic earnings per share for the period was HKD 0.80, compared to HKD 0.75 in the previous year, reflecting a 6.7% increase[14]. - The company reported a pre-tax profit of HKD 8,423,000 for the six months ended June 30, 2021, compared to HKD 5,382,000 in the same period of 2020, reflecting a growth of 56%[39]. - The company reported a net profit attributable to shareholders of HKD 5,388 for the six months ended June 30, 2021, compared to HKD 5,107 for the same period in 2020, reflecting an increase of approximately 5.5%[57]. - Basic earnings per share for the six months ended June 30, 2021, was HKD 0.83, up from HKD 0.79 in the same period of 2020, representing a growth of 5.1%[57]. - The company recorded a financial asset impairment loss of HKD 3,135,000 during the reporting period, which was not present in the previous year[39]. Revenue Breakdown - The energy storage segment generated external customer revenue of HKD 43,911,000, while the EPC services segment contributed HKD 29,398,000, and automotive glass repair and replacement services brought in HKD 19,971,000[34]. - Revenue from customers in China amounted to HKD 63,626,000, an increase from HKD 58,649,000 in the prior year, while revenue from Hong Kong decreased to HKD 19,971,000 from HKD 22,036,000[42]. - Revenue from the energy storage segment was HKD 478,197, while the EPC services segment generated HKD 92,906, and automotive glass and repair services contributed HKD 34,364 as of June 30, 2021[43]. - Revenue increased by HK$29.4 million from new photovoltaic power station EPC services since Q3 2020[112]. - The automotive glass repair and replacement service recorded revenue of HKD 20.0 million, a decrease attributed to the impact of the COVID-19 pandemic and local consumption weakness[104]. - Other business segments, including forklift trade, saw a revenue increase of 55.2% to HKD 22.5 million, driven by rising demand for lithium battery forklifts[106]. Assets and Liabilities - As of June 30, 2021, total assets amounted to HKD 641,474 thousand, an increase from HKD 555,559 thousand as of December 31, 2020, representing a growth of approximately 15.4%[16]. - Non-current assets increased to HKD 355,440 thousand from HKD 251,786 thousand, marking a significant rise of about 41.2%[16]. - Current liabilities rose to HKD 187,517 thousand, up from HKD 109,232 thousand, indicating an increase of approximately 71.5%[16]. - The company reported a net asset value of HKD 453,415 thousand as of June 30, 2021, compared to HKD 442,479 thousand at the end of 2020, showing a slight increase of approximately 2.1%[18]. - Total liabilities as of June 30, 2021, were HKD (142,434), compared to HKD (104,033) as of December 31, 2020, indicating an increase in liabilities by approximately 37%[43]. - The company's total liabilities increased to HK$130,224,000 as of June 30, 2021, compared to HK$87,799,000 as of December 31, 2020, reflecting a rise of 48.2%[71]. Cash Flow and Investments - The net cash flow from operating activities for the six months ended June 30, 2021, was a negative HKD 18,600 thousand, compared to a positive HKD 2,580 thousand in the same period of 2020[22]. - Cash and cash equivalents decreased to HKD 97,208 thousand from HKD 152,930 thousand, reflecting a decline of about 36.4%[22]. - The company incurred a significant investment cash outflow of HKD 74,925 thousand for the purchase of property and equipment, compared to HKD 17,292 thousand in the previous year[22]. - The financing activities generated a net cash inflow of HKD 35,401 thousand, contrasting with a net cash outflow of HKD 32,056 thousand in the same period last year[22]. - The company has contracted but not yet allocated capital expenditures of HKD 42.3 million for the construction of production facilities and purchase of equipment[18]. - Capital expenditures for the six months ended June 30, 2021, amounted to HK$111.0 million, significantly higher than HK$17.3 million in 2020[127]. Market and Growth Strategy - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[12]. - The company is engaged in the production and sale of energy storage products and provides related contract processing services, indicating a focus on market expansion in the energy sector[24]. - The company has begun evaluating the impact of adopting new accounting standards on its financial statements and performance[32]. - The company plans to adopt new and revised Hong Kong Financial Reporting Standards, which are expected to have no significant impact on the group's financial performance or disclosures[32]. - The company aims to expand its EPC services in the photovoltaic market, anticipating increased demand for rooftop solar solutions[109]. - The company plans to continue investing in R&D for lithium battery products, focusing on providing diversified power products and technical services[101]. Corporate Governance and Compliance - The company has established an audit committee consisting of three independent non-executive directors to oversee financial reporting and risk management[171]. - The company has complied with the corporate governance code as per GEM listing rules during the six months ended June 30, 2021[167]. - The company has adopted a code of conduct for securities trading by directors, which is at least as stringent as the GEM Listing Rules[150]. - The company has maintained high standards of corporate governance, transparency, and business practices essential for its success[167]. - The company has not engaged in any competitive business activities that could lead to conflicts of interest with its directors or major shareholders[166]. Shareholder Information - Dr. Li Hsien Yi holds 108,781,432 shares, representing approximately 16.78% of the company's issued share capital[151]. - Mr. Dong Qing Bo owns 40,014,968 shares, accounting for about 6.17% of the company's issued share capital[151]. - The total shares held by the concert party, including Dr. Li Hsien Yi and Mr. Dong Qing Bo, amount to 461,393,649 shares, which is approximately 71.16% of the company's issued share capital[151]. - The company has a diverse shareholder base with significant holdings concentrated among a few key individuals[151]. - The company did not recommend any dividend for the six months ended June 30, 2021, compared to zero in 2020[168].

Financial Performance - Revenue for the three months ended March 31, 2021, was HKD 43,253,000, a 46.2% increase from HKD 29,563,000 in the same period last year[6] - Energy storage business revenue was HKD 18,967,000, up 34.5% from HKD 14,118,000 year-on-year[12] - The company reported a gross profit of HKD 6,972,000, compared to HKD 5,125,000 in the previous year, reflecting a gross margin improvement[6] - Operating profit for the period was HKD 690,000, a significant recovery from an operating loss of HKD 670,000 in the prior year[6] - The net profit attributable to the owners of the company was HKD 201,000, down from HKD 249,000 in the same quarter last year[6] - The company recorded a total comprehensive income of HKD (2,659,000), compared to HKD (8,378,000) in the previous year, indicating a reduced loss[6] - The company’s earnings per share for the period was HKD 0.03, compared to HKD 0.04 in the same quarter last year[6] - For the three months ended March 31, 2021, the company reported a profit attributable to owners of HKD 201,000, compared to HKD 249,000 for the same period in 2020, representing a decrease of approximately 19.3%[22] - The basic earnings per share for the three months ended March 31, 2021, was HKD 0.03, down from HKD 0.04 in the same period of 2020, indicating a decline of 25%[22] Revenue Contributions - The company plans to expand its EPC services, which generated HKD 5,380,000 in revenue this quarter[12] - Other business segments, including forklift trading and wind power-related services, contributed HKD 9,287,000, significantly up from HKD 4,982,000 year-on-year[12] - The energy storage business contributed HKD 19.0 million, representing 43.9% of total revenue, with a 34.8% increase compared to HKD 14.1 million in 2020[35] - The EPC services generated HKD 5.4 million in revenue, marking a new contribution as there was no revenue from this segment in the previous year[35] - Revenue from the "Other" segment increased by 86.0% to HKD 9.6 million, driven by higher forklift sales and increased service fees from wind farm management agreements[35] Expenses and Losses - The cost of revenue was HKD 18.0 million for the energy storage business, up from HKD 12.5 million in 2020, leading to a decrease in gross profit from HKD 1.6 million to HKD 1.0 million[38] - Administrative expenses rose to HKD 9.7 million from HKD 5.4 million, primarily due to costs associated with employee terminations and increased R&D expenses[44] - The company incurred a net loss of HKD 4,026,000 from the sale of old facilities and equipment for the three months ended March 31, 2021, compared to a net gain of HKD 1,000 in the same period of 2020[14] Corporate Developments - The company is evaluating the impact of new accounting standards that will take effect in the upcoming fiscal year[11] - The company has commenced commercial production and sales of lithium battery products, focusing on integrated systems that include lithium batteries and energy management systems[30] - A new lithium battery production facility in Zhangjiagang, Jiangsu Province, has been completed and started commercial production in April 2021[30] - The company established a subsidiary, Polaron Energy Corp., in Canada to provide EPC services for photovoltaic power stations, holding a 68% stake in the subsidiary[31] - The company has four service centers in Hong Kong providing automotive glass repair and replacement services[32] - The company has been providing wind farm management services to Jinzhai Xinyi Wind Power Co., Ltd., in which it holds an 18% stake since Q3 2017[33] - The company has agreed with some customers in the forklift production sector to purchase forklifts, which will increase revenue sources[33] Shareholder Information - The company reported a total of 461,393,649 shares held by concert parties, representing approximately 71.17% of the issued share capital[61] - Dr. Li Xianyi holds 108,781,432 shares, accounting for 16.78% of the company's issued share capital[61] - The company has a significant concentration of ownership, with major shareholders holding substantial percentages of the total shares[61] - The company has established a shareholder agreement that grants preemptive rights to other parties in case of share sales[52] - The company did not grant any stock options under the plan during the three months ended March 31, 2021, and a total of 11,634,000 stock options remain unexercised as of that date[68] Governance and Compliance - The company has adopted a code of conduct for securities trading by directors, which is at least as stringent as the GEM Listing Rules[58] - As of March 31, 2021, there were no known violations of the securities trading standards by directors[58] - The company is committed to transparency regarding the interests of its directors and major shareholders in accordance with securities regulations[59] - The board of directors is committed to maintaining high standards of corporate governance, transparency, and business practices, which are crucial for the company's success and the protection of shareholders' interests[71] - The audit committee has been established to review and supervise the financial reporting process and risk management, consisting of three independent non-executive directors[74] - The board of directors did not recommend the distribution of dividends for the three months ended March 31, 2021[72]

Financial Performance - The company recorded a revenue growth of 7.5%, increasing from HKD 202.9 million in 2019 to HKD 218.1 million in 2020[10] - Profit attributable to owners decreased by 20.4% from HKD 25.0 million in 2019 to HKD 19.9 million in 2020, primarily due to increased R&D expenses[10] - Total revenue for the year ended December 31, 2020, was HKD 218.1 million, representing a 7.5% increase from HKD 202.9 million in 2019[30] - The energy storage business generated revenue of HKD 94.5 million, a decrease of 20.6% from HKD 119.0 million in the previous year, accounting for 43.3% of total revenue[30] - The automotive glass repair and replacement service recorded revenue of HKD 45.1 million, a decline of 10.8% compared to HKD 50.6 million last year, primarily due to the impact of COVID-19 and weak local consumption[16] - Revenue from the China market was HKD 169.4 million, accounting for 77.7% of total revenue, up 12.2% from HKD 151.0 million in 2019[31] - Revenue from the Hong Kong market decreased by 8.9% to HKD 46.0 million, down from HKD 50.5 million in 2019[31] Business Segments - Revenue and gross profit from the energy storage business were HKD 94.5 million and HKD 19.0 million, accounting for approximately 43.3% and 37.5% of the total revenue and gross profit, respectively[12] - Revenue and gross profit from the solar power station EPC services were HKD 39.2 million and HKD 11.7 million, representing about 18.0% and 23.0% of the overall revenue and gross profit[15] - The EPC services segment contributed HKD 39.2 million in revenue, marking a new revenue stream as it was not present in the previous year[30] - The other business segment, which includes forklift trade, achieved revenue growth of 18.0%, reaching HKD 39.3 million, up from HKD 33.3 million last year[17] Research and Development - The company emphasizes R&D as a key to long-term development, continuously investing in lithium battery product development based on customer needs[13] - The company plans to enhance its market competitiveness by actively improving existing products and developing new ones in the energy storage sector[12] - The company is focused on developing its potential in the renewable energy sector, particularly in energy storage and power battery applications, with plans to increase R&D spending[18] - The company is investing F million in R&D to develop advanced glass technologies, which are expected to be launched in the next 12 months[69] Impact of COVID-19 - The COVID-19 pandemic significantly impacted production activities, particularly in the first quarter of 2020, causing delays in product delivery[12] - The company’s lithium battery production and delivery gradually improved from March 2020 as the pandemic was brought under control in China[12] Capital Expenditures and Assets - Capital expenditures for the year amounted to HKD 70.5 million, an increase from HKD 47.3 million in 2019, mainly related to lithium battery production facilities in China[52] - As of December 31, 2020, the company had net current assets of HKD 194.5 million, down from HKD 231.3 million in 2019[50] Corporate Governance - The management team emphasized the importance of corporate governance, adhering to the GEM listing rules and ensuring compliance with applicable laws[78] - The board of directors consists of two executive directors and three independent non-executive directors, ensuring a balanced governance structure[79] - The company has implemented measures to prevent fraud and protect assets, reinforcing its commitment to ethical business practices[78] - The board emphasizes diversity as a crucial asset for the business and has adopted a diversity policy to enhance transparency and governance[80] Shareholder Relations - The company is committed to maintaining effective communication with shareholders and investors through various channels, including annual general meetings and timely performance announcements[112] - The company has a total of HKD 300.7 million available for distribution to shareholders as of December 31, 2020, unchanged from the previous year[142] Environmental and Social Responsibility - The company emphasizes the environmental benefits of lithium batteries, which are renewable energy products that reduce reliance on traditional fuels[123] - The company has implemented environmental measures to comply with applicable regulations, achieving over 95% recovery rate of solvents used in production[123] - The company is preparing an Environmental, Social, and Governance (ESG) report for the year ending December 31, 2020, to be published by June 30, 2021[125] Stock Options and Shareholder Interests - A total of 83,098 stock options were exercised during the year ended December 31, 2020, with 11,735,359 options remaining unexercised, representing approximately 1.8% of the company's issued ordinary shares[157] - The company has a stock option plan that will remain effective for ten years starting from May 31, 2017[168] - The maximum number of shares that may be issued upon exercise of options under the stock option plan is capped at 10% of the total issued share capital as of the date of approval[161] Related Party Transactions - The group had related party transactions amounting to HKD 5,263,000 for the purchase of automotive glass products from Xinyi Glass Group, which is within the maximum total amount of HKD 7.7 million for the year ended December 31, 2020[195] - The independent non-executive directors confirmed that the related party transactions were conducted in the ordinary course of business and on normal commercial terms[198]

Financial Performance - For the three months ended September 30, 2020, the company reported revenue of HKD 72,349,000, an increase from HKD 46,893,000 in the same period of 2019, representing a growth of 54.3%[7] - The gross profit for the nine months ended September 30, 2020, was HKD 33,018,000, compared to HKD 34,008,000 for the same period in 2019, indicating a slight decrease of 2.9%[7] - The operating profit for the three months ended September 30, 2020, was HKD 7,589,000, up from HKD 6,740,000 in the same period of 2019, reflecting an increase of 12.6%[7] - The net profit for the nine months ended September 30, 2020, was HKD 13,355,000, down from HKD 15,291,000 in the same period of 2019, a decrease of 12.7%[7] - The company reported a total comprehensive income of HKD 21,699,000 for the three months ended September 30, 2020, compared to a loss of HKD 1,668,000 in the same period of 2019[7] - Basic and diluted earnings per share for the three months ended September 30, 2020, were HKD 1.27, compared to HKD 1.04 for the same period in 2019, an increase of 22.1%[7] - Total revenue for the nine months ended September 30, 2020, was HKD 153,258,000, compared to HKD 133,615,000 for the same period in 2019, representing a growth of 14.7%[7] - The electric vehicle battery business generated revenue of HKD 66,028,000 for the nine months ended September 30, 2020, down 15.8% from HKD 78,433,000 in the same period of 2019[15] - The company reported a net profit attributable to shareholders of HKD 13,355,000 for the nine months ended September 30, 2020, a decrease of 12.6% from HKD 15,291,000 in the same period of 2019[25] - The basic earnings per share for the nine months ended September 30, 2020, was HKD 2.06, down from HKD 2.36 in the same period of 2019[25] Expenses and Income - The company’s administrative expenses for the three months ended September 30, 2020, increased to HKD 8,655,000 from HKD 6,136,000 in the same period of 2019, an increase of 41.0%[7] - Other income for the nine months ended September 30, 2020, was HKD 3,507,000, down from HKD 3,799,000 in the same period of 2019, a decrease of 7.7%[7] - The company received government subsidies totaling HKD 3,294,000 for the nine months ended September 30, 2020, compared to HKD 3,642,000 in the same period of 2019[16] - The company received various government subsidies related to tax incentives and rental discounts due to the COVID-19 pandemic, which positively impacted other income[40] Shareholder Information - The company reported a total of 108,781,432 shares held by Dr. Li Xianyi, representing 16.78% of the total issued share capital[53] - The company has a significant shareholder agreement that grants priority rights to other parties if any shareholder intends to sell shares allocated under the distribution of Xinyi Glass[57] - Full Guang Holdings Limited, which holds shares in the company, is owned by several individuals with Dr. Li Xianyi holding 33.98% of it[48] - As of September 30, 2020, the company had a total of 455,105,649 shares held by concert parties, representing 70.22% of the total issued share capital[53] - Ms. Li Biyong holds 173,088 share options, accounting for 0.03% of the company's issued share capital[49] - The company has a diverse shareholder base with various individuals holding significant percentages of shares, including Mr. Dong Qingbo with 6.17%[53] Corporate Governance - The company has adopted a code of conduct for securities trading by directors, which complies with GEM listing rules[52] - The company has established an audit committee to review and supervise the financial reporting process and risk management, consisting of three independent non-executive directors[67] - The company has complied with the corporate governance code as per GEM listing rules throughout the nine months ended September 30, 2020[64] - The company is committed to maintaining high standards of corporate governance and transparency, which are crucial for its success and the protection of shareholder interests[64] - The company continues to monitor its shareholder structure and ensure adherence to agreements among major shareholders[57] Business Developments - The company has begun establishing a lithium battery and energy storage product manufacturing facility in Zhangjiagang, Jiangsu Province, expected to commence commercial production in 2021[29] - The company has successfully signed EPC contracts for photovoltaic power station installations in China, which is expected to provide additional revenue sources and enhance profitability[30] - The company has four service centers and a service team providing automotive glass repair and replacement services[33] - The EPC services segment contributed HKD 30.1 million in revenue, which was not applicable in the previous year as it was newly established[34] - Revenue from automotive glass repair and replacement services decreased by 11.2% to HKD 34.3 million from HKD 38.6 million in 2019[34] - The increase in revenue from the "other" business segment was 38.0%, mainly driven by increased demand for forklifts during the period[34] Compliance and Regulations - The company is assessing the impact of new accounting standards issued by the Hong Kong Institute of Certified Public Accountants but has not yet determined if they will have a significant impact on its performance and financial position[13] - The company has not identified any violations of securities trading standards by its directors as of September 30, 2020[52] - The company has not engaged in any competitive business activities with its directors or controlling shareholders as of September 30, 2020[63] - The company and Xinyi Solar Holdings Limited do not have overlapping customers and have executed arrangements to avoid competitive business in EPC services for photovoltaic power stations[63] Dividend Policy - The company has not declared any dividends for the nine months ended September 30, 2020[23] - The board of directors did not recommend the payment of dividends for the nine months ended September 30, 2020, consistent with no dividends paid in 2019[66] - The company has not purchased, sold, or redeemed any of its listed securities during the nine months ended September 30, 2020[62] Miscellaneous - The company has not disclosed any new product or technology developments, market expansions, or acquisitions in the provided documents[60] - Overall gross profit margin decreased from 25.5% in 2019 to 21.5% in 2020, primarily due to reduced demand for higher-margin energy storage systems[38] - Administrative expenses increased to HKD 22.8 million from HKD 19.2 million, mainly due to higher R&D costs for product development[41] - The cost of sales for the energy storage business was HKD 53.2 million, down from HKD 59.9 million in 2019, contributing to a gross profit of HKD 12.9 million[36] - The company has granted a total of 558,000 stock options under the stock option plan adopted on May 31, 2017, with 1,555,496 options remaining unexercised as of September 30, 2020[61]

Financial Performance - For the six months ended June 30, 2020, the company reported revenue of HKD 80,909,000, a decrease of 6.5% compared to HKD 86,722,000 for the same period in 2019[13] - The gross profit for the same period was HKD 16,407,000, down 24.0% from HKD 21,589,000 in 2019[13] - Operating profit decreased to HKD 3,047,000, a decline of 57.8% compared to HKD 7,215,000 in the previous year[13] - The net profit for the period was HKD 4,858,000, down 4.9% from HKD 5,106,000 in 2019[13] - The company reported a basic and diluted earnings per share of HKD 0.75, compared to HKD 0.79 in the same period last year[13] - Other income for the six months was HKD 1,561,000, a decrease of 30.2% from HKD 2,237,000 in 2019[13] - The pre-tax profit for the six months ended June 30, 2020, was HKD 5,382,000, down from HKD 9,348,000 in the same period of 2019[44] - The company reported a net loss of HKD 2,092 thousand for the period, compared to a profit of HKD 5,107 thousand in the previous year[19] - The net profit attributable to the company's owners for the six months ended June 30, 2020, was HKD 5.1 million, down from HKD 8.5 million in 2019[110] Assets and Liabilities - As of June 30, 2020, total assets amounted to HKD 480,369 thousand, a decrease from HKD 493,762 thousand as of December 31, 2019, representing a decline of approximately 2.7%[15] - Total liabilities as of June 30, 2020, were HKD 85,961,000, compared to HKD 66,675,000 as of December 31, 2019, indicating an increase of 29.0%[49] - Total equity as of June 30, 2020, was HKD 393,750 thousand, slightly down from HKD 395,799 thousand as of December 31, 2019, a decrease of about 0.5%[17] - The company’s total liabilities increased to HKD 70,909,000 as of June 30, 2020, compared to HKD 48,665,000 as of December 31, 2019, reflecting a growth of approximately 45.67%[75] Cash Flow and Expenditures - Cash and cash equivalents decreased significantly to HKD 168,584 thousand from HKD 220,882 thousand, a drop of around 23.6%[21] - Operating cash flow for the six months ended June 30, 2020, was HKD 1,684 thousand, down from HKD 22,367 thousand in the same period of 2019, representing a decrease of approximately 92.5%[21] - The company incurred a significant cash outflow of HKD 32,056 thousand from financing activities, compared to HKD 2,805 thousand in the previous year, indicating a substantial increase in cash used for financing[21] - The company’s capital expenditure for the six months ended June 30, 2020, amounted to HKD 24,445,000, an increase from HKD 15,170,000 in the same period of 2019[70] Segment Performance - The revenue from the battery pack and energy storage systems segment was HKD 24,522,000, while the lithium battery products segment generated HKD 29,507,000[39] - The automotive glass repair and replacement services segment reported revenue of HKD 22,036,000, with a gross profit of HKD 4,871,000[39] - Revenue from battery packs and energy storage systems decreased by 27.0% to HKD 24.5 million, down from HKD 33.6 million in the previous year[101] - Revenue from the production and sale of lithium battery products increased by 29.1% to HKD 19.9 million, compared to HKD 15.4 million in the same period of 2019[101] Research and Development - Research and development expenses increased to HKD 5,936,000 for the six months ended June 30, 2020, compared to HKD 3,733,000 in the same period of 2019, representing a growth of 59.0%[55] - The company continues to invest in research and development to optimize product performance and introduce innovative products in response to market trends[95] Market and Strategic Initiatives - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[50] - The company aims to enhance its lithium battery product offerings and has launched several new products to meet market demand, significantly increasing application volumes compared to 2019[94] - The company plans to strengthen its marketing strategies and expand its customer base in the lithium battery sector, particularly in high-energy consumption areas in China[95] - The company is actively preparing for the construction of a new factory in Zhangjiagang, China, expected to commence production in 2021, significantly enhancing capacity and production equipment[99] - The company aims to expand its business in the renewable energy sector, including solar power station projects in China and overseas, to drive profit growth[99] Corporate Governance and Compliance - The company has adopted a code of conduct for securities trading by directors, ensuring compliance with GEM Listing Rules[143] - The audit committee, consisting of three independent non-executive directors, is responsible for reviewing and supervising the group's financial reporting procedures and risk management[156] - The unaudited condensed consolidated financial information for the six months ended June 30, 2020, has been reviewed by the audit committee[158] Employee and Shareholder Information - As of June 30, 2020, the group had 272 full-time employees, an increase from 266 as of December 31, 2019, with 209 based in China and 63 in Hong Kong[117] - The total number of shares held by directors and senior management in the company was 453,165,649, representing 69.92% of the issued share capital[136] - The company has no knowledge of any violations of securities trading standards by directors as of June 30, 2020[143]