Financial Performance - The company recorded a loss of approximately HKD 45,607,000 for the year ended December 31, 2024[3]. - As of December 31, 2024, the company's net current liabilities amounted to approximately HKD 134,213,000[3]. - Total bank loans and overdrafts were approximately HKD 107,580,000, which are due for repayment within one year[3]. - The company's cash and cash equivalents were only about HKD 849,000 as of the same date[3]. Cost Management - Administrative expenses decreased from approximately HKD 50.9 million in 2023 to about HKD 43.1 million in 2024 due to strict cost control measures[6]. - The company has shifted its business model from in-house production to outsourcing orders to a factory in Huizhou, significantly reducing fixed costs for 2025[6]. Financial Support and Restructuring - The chairman has signed a continuous financial support letter to ensure the company can meet its debt obligations[6]. - The company is actively seeking alternative financing opportunities, including share placements and convertible bonds[6]. - The company has engaged in discussions with banks to resolve loan repayment issues and has had vacant properties taken over by banks[6]. Audit Concerns - The auditor was unable to obtain necessary information to assess the feasibility of the company's plans, resulting in a disclaimer of opinion[5].

Financial Performance - The group's revenue for the year ended December 31, 2024, was approximately HKD 50.1 million, a decrease of about 65.7% compared to HKD 146.2 million for the year ended December 31, 2023[7]. - The gross loss for the year ended December 31, 2024, was approximately HKD 2.0 million, compared to a gross profit of approximately HKD 34.9 million for the year ended December 31, 2023[7]. - The net loss for the year ended December 31, 2024, was approximately HKD 45.6 million, compared to a net loss of approximately HKD 23.0 million for the year ended December 31, 2023[7]. - Revenue decreased by approximately 65.7% from about HKD 146.2 million for the year ended December 31, 2023, to about HKD 50.1 million for the year ended December 31, 2024, primarily due to a reduction in sales orders[29]. - Net loss for the year ended December 31, 2024, was approximately HKD 45.6 million, compared to a net loss of about HKD 23.0 million for the year ended December 31, 2023, mainly due to decreased customer orders[39]. - Gross loss of approximately HKD 2.0 million was recorded for the year ended December 31, 2024, with a gross margin of -3.9%, compared to a gross profit of about HKD 34.9 million and a gross margin of 23.9% for the previous year[34]. - Other income decreased by approximately 82.1% from about HKD 6.7 million for the year ended December 31, 2023, to about HKD 1.2 million for the year ended December 31, 2024, primarily due to the absence of one-time government subsidies[35]. Operational Changes - The group ceased operations at its Shenzhen factory in June 2024 and has also stopped operations at its Hong Kong factory, transferring operations to a commercial bank[10]. - The group plans to outsource printing orders to the Huizhou factory and other subcontractors in mainland China following the cessation of its own factory operations[10]. - The company closed its Shenzhen factory in June 2024 due to a significant decrease in customer orders and low profit margins[115]. - The Hong Kong office's production facilities were also closed in December 2024[115]. - The company entered into a joint venture agreement to invest in a printing factory in Huizhou, Guangdong, holding a 28% stake in the joint venture[116]. - The Huizhou factory will cover an area of 9,640 square meters and is planned to be equipped with five printing machines, binding machines, folding machines, and sewing machines[116]. Business Strategy and Future Outlook - The group aims to adapt to a new business model through the Huizhou factory to maintain operations, despite facing challenges such as global economic uncertainty and technological advancements in publishing[11]. - The group believes that outsourcing will significantly reduce fixed cash flow costs, thereby improving cash flow[11]. - The company has set a future revenue guidance of HKD 1.5 billion for the next fiscal year, indicating a projected growth of 25%[18]. - The company is exploring potential acquisitions in the Southeast Asian market to diversify its service offerings[21]. - A new product line focused on eco-friendly printing solutions is expected to launch in Q2 2024, targeting a 10% market share within the first year[22]. - The company has implemented a new strategy to enhance customer engagement through digital platforms, aiming for a 15% increase in customer retention rates[23]. Financial Health and Risks - The group will continue to face risks in regaining customer orders due to weak market demand and geopolitical tensions, including the Russia-Ukraine conflict and US-China trade disputes[13]. - The company recorded a loss of approximately HKD 45,607,000 for the year ending December 31, 2024, with net current liabilities of about HKD 134,213,000[41]. - Total bank loans and overdrafts amounted to approximately HKD 107,580,000, which are due for repayment within one year, while cash and bank balances were only about HKD 849,000[41]. - The company is facing significant uncertainty regarding its ability to continue as a going concern due to its financial situation[42]. - The company plans to implement cost control measures to improve cash flow and is exploring alternative financing options to meet existing financial obligations[99]. - The group is actively negotiating with banks to seek continued support and avoid immediate repayment due to loan covenant breaches[99]. Corporate Governance and Compliance - The board does not recommend the payment of a final dividend for the year ended December 31, 2024[7]. - The company has complied with the corporate governance code principles for the year ending December 31, 2024, except for a deviation regarding the separation of roles between the chairman and CEO[61]. - The board held four meetings during the reporting period, with full attendance from all directors[70]. - The audit committee held four meetings during the reporting period, with all members attending all meetings, and reviewed the audited consolidated financial statements for the reporting period[81]. - The company has established a robust internal control and risk management system aimed at managing risks rather than eliminating them[92]. - The company has not received any reports of fraud or corruption activities in the fiscal years 2024 and 2023, reflecting its commitment to fair business practices[189]. Environmental and Social Responsibility - The company emphasizes environmental protection and compliance with relevant environmental regulations, including the Environmental Protection Law of the People's Republic of China[117][118]. - The company aims to create long-term value for stakeholders through sustainable development and social responsibility initiatives[112]. - The company’s environmental, social, and governance report covers the fiscal year 2024, with comparative data from the fiscal year 2023[112]. - The company aims to reduce greenhouse gas emissions and hazardous waste levels to create a cleaner environment and mitigate severe weather sources[122]. - The company encourages double-sided copying and electronic documentation to reduce paper usage in office settings[129]. - The company is committed to responsible corporate citizenship and aims to support local community economic and social vitality[190]. Employee Management and Safety - The employee count at the end of FY2024 decreased to 9 from 397 in FY2023, representing a reduction of 97.73%[149]. - Employee costs in FY2024 totaled HKD 39.56 million, down 39.16% from HKD 59.66 million in FY2023, primarily due to the closure of the Shenzhen factory[153]. - The company reported zero work-related injuries and zero lost workdays in the 2024 fiscal year, compared to 20 reported injuries and 185 lost workdays in the previous year[174]. - The company has established a health prevention program at the Shenzhen factory, including temperature checks and sanitation measures for all personnel entering the facility[172]. - The company has implemented health and safety training programs to promote workplace safety awareness[175]. - The company is committed to respecting labor rights and human rights, ensuring voluntary employment conditions and prohibiting forced labor[164].

Financial Performance - The group's revenue for the year ended December 31, 2024, was approximately HKD 50.1 million, a decrease of about 65.7% from approximately HKD 146.2 million for the year ended December 31, 2023[10]. - The gross loss for the year ended December 31, 2024, was approximately HKD 2.0 million, compared to a gross profit of approximately HKD 34.9 million for the year ended December 31, 2023[10]. - The net loss for the year ended December 31, 2024, was approximately HKD 45.6 million, compared to a net loss of approximately HKD 23.0 million for the year ended December 31, 2023[10]. - Other income decreased by approximately 82.1% from about HKD 6.7 million for the year ended December 31, 2023, to about HKD 1.2 million for the year ending December 31, 2024, mainly due to the absence of one-time government subsidies[38]. - Administrative expenses decreased from approximately HKD 50.9 million for the year ended December 31, 2023, to about HKD 43.1 million for the year ending December 31, 2024, primarily due to reduced employee salaries[39]. - Financial costs decreased from about HKD 9.8 million for the year ended December 31, 2023, to approximately HKD 3.8 million for the year ending December 31, 2024, mainly due to a reduction in loan amounts[40]. - The group recorded a loss of approximately HKD 45,607,000 for the year ending December 31, 2024[100]. - As of December 31, 2024, the group's net current liabilities amounted to approximately HKD 134,213,000[100]. - Total bank loans and overdrafts amounted to approximately HKD 107,580,000, which are due for repayment within one year[100]. - The group's cash and bank balances were only approximately HKD 849,000 as of the same date[100]. Operational Changes - The group ceased operations at its Shenzhen factory in June 2024 and has transferred its Hong Kong factory operations to a commercial bank[12][13]. - The remaining operations of the group will continue to provide printing services, shifting from in-house production to outsourcing printing orders to Huizhou factory or other external contractors in China[13]. - The Huizhou factory has commenced operations and has started receiving subcontract orders from the group[13]. - The Shenzhen factory ceased operations in June 2024, and the Hong Kong factory has also stopped operations, with orders being redirected to the Huizhou factory and other subcontractors in mainland China[33]. - The company aims to adapt its business model through the Huizhou factory to maintain operations, despite facing risks from global economic uncertainties and industry challenges[34]. - The company plans to outsource printing orders to the Huizhou factory and other external subcontractors to reduce fixed cash flow costs and improve cash flow[34]. - The company has a long history in the printing industry since its establishment in 1992 and intends to leverage its competitive advantages to secure orders from overseas clients[34]. Risk Management - The group will face several risks in the future, including the need to regain customer orders due to weak market demand and economic uncertainties stemming from the Russia-Ukraine conflict and US-China trade disputes[16]. - The company faced significant uncertainty regarding its ability to continue as a going concern due to potential violations of loan covenants and the need to repay approximately HKD 96.062 million in current bank borrowings[44]. - The group is actively seeking financial support from banks to avoid immediate repayment due to loan covenant breaches[102]. - A financial support letter from shareholder Mr. Lin was obtained, agreeing not to demand repayment of approximately HKD 16,859,000 and to provide additional financial support[102]. Corporate Governance - The company has complied with the corporate governance code principles for the year ending December 31, 2024, with a noted deviation regarding the separation of the roles of chairman and CEO[64]. - The board held four meetings during the reporting period, with all members attending all meetings[73]. - The audit committee reviewed and recommended the approval of the audited consolidated financial statements for the reporting period[84]. - The company has established four board committees: Audit Committee, Remuneration Committee, Nomination Committee, and Risk Management Committee[81]. - Independent non-executive directors constitute at least one-third of the board, ensuring strong independent judgment[74]. - The company has a commitment to continuous professional development for all directors, with training sessions held on regulatory responsibilities[79]. - The board is responsible for overseeing the company's business strategy and performance, ensuring alignment with shareholder interests[77]. - The company approved an annual budget covering strategy, finance, and business performance[70]. Environmental, Social, and Governance (ESG) Initiatives - The group is committed to sustainable development and social responsibility, focusing on creating long-term value for stakeholders, including employees and business partners[115]. - The environmental, social, and governance (ESG) report for the fiscal year 2024 will not include data on greenhouse gas emissions or waste generation due to the closure of the Shenzhen factory[118]. - The company emphasizes the importance of stakeholder engagement to inform business strategies and address stakeholder needs and expectations[118]. - The company aims to reduce greenhouse gas emissions and hazardous waste levels as part of its green production goals, contributing to a cleaner environment[122]. - The company has engaged external qualified testing firms to monitor emissions from its main production facilities, ensuring compliance with current regulations[125]. Employee and Workforce Management - As of December 31, 2024, the group had a total of 9 employees, a significant decrease from 397 employees in 2023, with employee costs amounting to approximately HKD 39.1 million, down from HKD 59.7 million in 2023[56]. - Employee costs for FY2024 decreased by 31.17% to HKD 37.10 million from HKD 53.90 million in FY2023, primarily due to the closure of the Shenzhen factory[156]. - Social and retirement benefits payments fell by 57.21% from HKD 5.77 million to HKD 2.47 million, attributed to calculations based on basic salaries[156]. - A total of 82 employees resigned in FY2023, with no data available for FY2024 due to the factory's closure[159]. - The company has implemented health prevention measures at the Shenzhen factory, including temperature checks and sanitation protocols for all personnel entering the facility[175]. - The company reported zero injuries and accidents in fiscal year 2024, compared to 20 in fiscal year 2023[177]. Production and Resource Management - The company aims to enhance resource efficiency and production capacity through automation and effective production management[141]. - The company has implemented measures to encourage the recycling of materials and reduce waste, including the use of double-sided copying and electronic documentation[132]. - The company has established centralized mechanical equipment for compressing and bundling waste paper to improve collection efficiency and recycling rates[132]. - Total paper material purchases for FY2024 amounted to HKD 8.0 million, a significant decrease of 77.22% from HKD 35.13 million in FY2023, primarily due to the closure of the Shenzhen factory[132]. - The average output per worker decreased by 10.46% to 16,487 kg in FY2023, attributed to reduced production orders and underutilization of capacity[144]. Strategic Direction - The company is focused on international markets, indicating a strategic direction towards global expansion[199]. - The company has established a joint venture to operate a factory in Huizhou, enhancing its production capabilities[199]. - The board emphasizes the importance of environmental, social, and governance (ESG) responsibilities in its new business strategy[194].

P Prosperous Printing Company Limited 萬里印刷有限公司 (於香港註冊成立的有限公司) 股份代號: 8385 香港聯合交易所有限公司（「聯交所」）GEM（「GEM」）之特色 GEM之定位，乃為相比起其他在聯交所上市之公司帶有較高投資風險之中小型公司提供一個上市之市場。 有意投資之人士應了解投資於該等公司之潛在風險，並應經過審慎周詳之考慮後方作出投資決定。 由於GEM上市公司普遍為中小型公司，在GEM買賣之證券可能會較於聯交所主板買賣之證券承受較大之市 場波動風險，同時無法保證在GEM買賣之證券會有高流通量之市場。 香港交易及結算所有限公司及聯交所對本報告的內容概不負責，對其準確性或完整性亦不發表任何聲明，並 明確表示概不就因本報告全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 本報告乃遵照GEM證券上市規則（「GEM上市規則」）之規定而提供有關萬里印刷有限公司（「本公司」，連同 其附屬公司統稱「本集團」）之資料，本公司之董事（「董事」）願共同及個別對此負全責。董事經作出一切合理 查詢後，確認就彼等所深知及確信，本報告所載資料在一切重要方面均屬準確及完 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示概不就因本公佈全部或任何部分內容而 產生或因倚賴該等內容而引致的任何損失承擔任何責任。 Prosperous Printing Company Limited 萬 里 印 刷 有 限 公 司 （於香港註冊成立的有限公司） （股份代號：8385） 中期業績公佈 截至2024年6月30日止六個月 萬里印刷有限公司（「本公司」）之董事（「董事」）會（「董事會」）欣然宣佈本公司及其附屬公 司截至2024年6月30日止六個月之未經審核中期業績。 本公佈列載本公司財務摘要及2024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」）中有關中期業績初步公佈附載之資料之要求。載有GEM 上市規則規定資料之本公司2024年中期報告之印刷本將寄發予本公司股東，並可於GEM 網站www.hkgem.com及本公司網站www.prosperous-printing-group.com.hk內查閱。 承董事會命 萬里印刷有限公司 主席兼執行董事 林三明 香港，2024年8月14日 — ...

Financial Performance - The group's revenue for the year ended December 31, 2023, was approximately HKD 146.2 million, a decrease of about 24.9% compared to HKD 194.8 million for the year ended December 31, 2022, primarily due to reduced sales orders influenced by global economic uncertainty [11]. - The gross profit for the year ended December 31, 2023, was approximately HKD 34.9 million, down from HKD 57.1 million for the year ended December 31, 2022, attributed to aggressive pricing policies and decreased sales orders due to global economic uncertainty [11]. - The net loss for the year ended December 31, 2023, was approximately HKD 23.0 million, an improvement from a net loss of approximately HKD 59.7 million for the year ended December 31, 2022, mainly due to reduced impairment losses on receivables and cost savings in distribution and administrative expenses [11]. - The company reported a significant increase in revenue, achieving a total of 48 million shares held through First Tech, which is fully owned by Mr. Lin [21]. - Other income increased by approximately 12.6% to about HKD 6.7 million for the year ended December 31, 2023, primarily due to a one-time government subsidy received in China [43]. - Administrative expenses decreased from approximately HKD 55.7 million for the year ended December 31, 2022, to HKD 50.9 million for the year ended December 31, 2023 [44]. - The company recorded a loss of approximately HKD 23.0 million for the year ended December 31, 2023, compared to a loss of HKD 59.7 million for the year ended December 31, 2022 [47]. - The total amount of bank loans, other loans, overdrafts, and lease liabilities as of December 31, 2023, was approximately HKD 135.8 million, down from HKD 172.4 million in the previous year [49]. - The group's capital expenditure for the year ended December 31, 2023, was HKD 132.83 million, a decrease from HKD 202.92 million in 2022 [55]. - The group maintained a current ratio of 0.3 as of December 31, 2023, compared to 0.4 as of December 31, 2022 [49]. Corporate Governance - The board of directors did not recommend the payment of a final dividend for the year ended December 31, 2023, consistent with the previous year [11]. - The company has complied with the corporate governance code during the reporting period, except for a deviation regarding the separation of the roles of Chairman and CEO [75]. - The board held four meetings during the reporting period, with all directors attending all meetings [86]. - The company aims to maintain high standards of corporate governance to ensure transparency and accountability, which is crucial for long-term shareholder value creation [74]. - The company has adopted a code of conduct for securities trading by directors, confirming compliance during the reporting period [79]. - The board believes that the current structure, with the Chairman also serving as the CEO, is in the best interest of the company for effective management and business development [76]. - The company has appointed three independent non-executive directors, ensuring they constitute at least one-third of the board, with at least one possessing appropriate professional qualifications [87]. - The independent non-executive directors have confirmed their independence in accordance with GEM Listing Rules, and their initial term is set for two years starting from December 13, 2023 [87]. - The audit committee held four meetings during the reporting period, with all members attending all meetings, and reviewed the audited consolidated financial statements for the reporting period [99]. - The remuneration committee held one meeting during the reporting period to provide recommendations on the remuneration of all directors and senior management [102]. - The nomination committee was established to provide recommendations for filling vacancies on the board and senior management, having held one meeting during the reporting period [106]. - The risk management committee assists the board in overseeing compliance with laws and regulations related to business operations, having held one meeting during the reporting period [109]. - The board is responsible for assessing and determining the nature and extent of risks the company is willing to take to achieve its strategic objectives [110]. - The company has established a robust internal control and risk management system aimed at managing risks rather than eliminating them [110]. - The board has reviewed and discussed the effectiveness of the corporate governance policies in place [91]. Future Strategies - The company remains cautiously optimistic about the future, believing that the printing market will continue to be stable and healthy, while planning to enhance its competitive advantages to increase market share and profitability [15]. - Future business strategies include improving equipment and increasing automation, expanding the customer base, enhancing sales and marketing coverage, and continuing to attract and retain high-end talent in the industry [15]. - The company aims to expand its customer base and strengthen sales and marketing coverage as part of its future strategies [38]. - The management is committed to developing new products and technologies to stay competitive in the printing industry [22]. Risk Factors - The company faces several risks in future development, including weak market demand, economic uncertainties from the Russia-Ukraine conflict, rising paper costs, and challenges from technological advancements in the publishing and information dissemination sectors [15]. - The company faced various risks including economic uncertainties due to tightening monetary policy and geopolitical tensions, but remains cautiously optimistic about the printing market's stable development [38]. Environmental Sustainability - The company emphasizes sustainable development and social responsibility, aiming to create long-term value for stakeholders [134]. - The Shenzhen factory has been certified to comply with environmental management standards ISO 14001:2015 since February 2019 [142]. - The company has received a 5-year pollution discharge permit from the Shenzhen Ecological Environment Bureau, allowing internal monitoring of wastewater and gas emissions during production [143]. - The company is committed to reducing greenhouse gas emissions and hazardous waste levels to create a cleaner environment and minimize adverse weather conditions [143]. - The company ensures compliance with multiple environmental regulations, including the Environmental Protection Law of the People's Republic of China and various pollution control ordinances in Hong Kong [140]. - The company has implemented a quality management system certified to ISO 9001:2015 standards since February 2019 [142]. - The company continues to promote digital data usage to save on printing and enhance recycling of waste paper [165]. - The company has installed more efficient digital printing machines to increase production capacity and reduce energy and ink consumption compared to traditional printing methods [167]. - The total amount of FSC paper used in production decreased from 673.23 tons in FY2022 to 321.34 tons in FY2023, representing a decline of 52.4% [174]. - The percentage of FSC paper in total production dropped from 14.31% in FY2022 to 10.15% in FY2023 [174]. - Total greenhouse gas emissions for FY2023 were 6,048.30 tons CO2 equivalent, a decrease of 2.37% from 6,195.03 tons in FY2022 [148]. - The total waste collected in FY2023 was 1,725,050 kg, a reduction of 23.22% from 2,246,656 kg in FY2022 [155]. - The amount of hazardous waste generated decreased by 30.30% to 4.05 tons in FY2023 from 5.81 tons in FY2022 [159]. - The chemical oxygen demand in wastewater decreased to 17.75 mg/L in FY2023 from 62 mg/L in FY2022 [152]. - The company achieved a recycling rate of 99.77% for waste materials in FY2023, slightly up from 99.74% in FY2022 [155]. - The company installed environmental air filters in its Shenzhen factory to reduce VOC emissions, which include benzene, toluene, and xylene [148]. - Environmental monitoring costs increased by 5.31% from HKD 657,699 in FY2022 to HKD 692,628 in FY2023, primarily due to higher testing fees for emissions at the Shenzhen factory [161]. Employee Management - The company aims to provide a safe and healthy working environment for employees, recognizing them as valuable assets [134]. - Employee headcount at the end of FY2023 was 393, down from 454 in FY2022, a reduction of 13.44% [180]. - Total employee costs decreased from HKD 59.85 million in FY2022 to HKD 55.86 million in FY2023, a decline of 6.66% [186]. - The number of employees resigning in FY2023 increased to 82 from 79 in FY2022, a rise of 3.80% [188]. - The average number of employees in FY2023 was 423, down from 467 in FY2022, a decrease of 9.42% [180]. - The company aims to enhance production efficiency by increasing output per worker by 5% [176]. - The company plans to maintain competitive compensation to attract and retain employees [182]. - Employee training participation increased from 3,500 in FY2022 to 3,566 in FY2023, with total training hours rising from 3,558 to 3,566 hours [196]. - Average training hours per employee increased to 8.4 hours in FY2023 from 7.6 hours in FY2022 [196]. - Employee turnover rate for those with over 2 years of service maintained below 10% [193]. - The company conducted fraud alert training in FY2023 due to the rise in various forms of fraud [196]. - No employee disputes were recorded during FY2023, and the audit committee chair received no assistance requests [191]. - The company emphasizes open communication channels for employees to express opinions and suggestions [193]. - The company provides training on industry safety, fire drills, and emergency procedures to enhance employee preparedness [195]. - The company respects labor rights and human rights, ensuring voluntary employment conditions [199]. - The company does not employ forced or child labor, adhering to local and international laws [200]. - The company encourages employees to explore their potential and provides opportunities for skill development [197].

Financial Performance - The group's revenue for the year ended December 31, 2023, was approximately HKD 146.2 million, a decrease of about 24.9% compared to HKD 194.8 million for the year ended December 31, 2022, primarily due to reduced sales orders influenced by global economic uncertainty [15]. - The gross profit for the year ended December 31, 2023, was approximately HKD 34.9 million, down from HKD 57.1 million for the year ended December 31, 2022, attributed to aggressive pricing policies and decreased sales orders due to overall economic uncertainty [15]. - The net loss for the year ended December 31, 2023, was approximately HKD 23.0 million, an improvement from a net loss of approximately HKD 59.7 million for the year ended December 31, 2022, mainly due to reduced impairment losses on receivables and cost savings in distribution and administrative expenses [15]. - The company recorded a loss of approximately HKD 23.0 million for the year ended December 31, 2023, compared to a loss of approximately HKD 59.7 million for the year ended December 31, 2022, primarily due to a decrease in impairment losses on receivables and cost savings in distribution and administrative expenses offset by increased financing costs [51]. - Other income increased by approximately 12.6% to about HKD 6.7 million for the year ended December 31, 2023, primarily due to a one-time government subsidy received in China [47]. - Administrative expenses decreased from approximately HKD 55.7 million for the year ended December 31, 2022, to HKD 50.9 million for the year ended December 31, 2023 [48]. - Financial costs increased from approximately HKD 7.1 million for the year ended December 31, 2022, to HKD 9.8 million for the year ended December 31, 2023, mainly due to increased loan interest [49]. Dividend and Shareholder Information - The board of directors did not recommend the payment of a final dividend for the year ended December 31, 2023, consistent with the previous year [15]. - The company will publish its annual report on its website and the GEM website for shareholder access [5]. - The group encourages effective communication with shareholders and stakeholders to enhance business strategies and meet expectations [140]. - The group provides shareholders with options for receiving company communications, ensuring transparency and accessibility of information [135]. Business Operations and Strategy - The company operates as a supplier of printed products to international publishers primarily located in the United States, the United Kingdom, Australia, and Europe, with significant reliance on paper and ink as raw materials [17]. - The company has two production bases located in Shenzhen and Hong Kong, both of which are self-operated printing facilities [17]. - The group remains cautiously optimistic about the future, believing that the printing market will continue to be stable and healthy despite facing risks such as weak market demand and rising paper costs [19]. - The company plans to enhance its competitive advantage to increase market share and profitability through strategies like improving equipment and increasing automation [19]. - The group aims to expand its customer base and strengthen sales and marketing coverage as part of its business strategy [19]. - The company faces several risks in the future, including economic uncertainties due to tightening monetary policy, the Russia-Ukraine war, and challenges from technological advancements in the publishing industry [42]. Environmental and Sustainability Efforts - The group is committed to sustainable development and social responsibility, aiming to create long-term value for stakeholders [138]. - The group has obtained certifications for environmental management systems and quality management standards, including ISO 14001:2015 and ISO 9001:2015 [146]. - The group emphasizes compliance with environmental regulations, including the Environmental Protection Law of the People's Republic of China and various Hong Kong laws [144]. - The group has not reported any significant non-compliance issues regarding air and greenhouse gas emissions during the fiscal year 2023 [145]. - Total greenhouse gas emissions for FY2023 amounted to 6,048.30 tons of CO2 equivalent, a decrease from 6,195.03 tons in FY2022, representing a reduction of approximately 2.37% [152]. - The total amount of purchased paper materials decreased by 13.61% from HKD 40.67 million in FY2022 to HKD 35.13 million in FY2023, primarily due to lower inventory levels [157]. - The recycling rate for waste materials in FY2023 was 99.77%, slightly up from 99.74% in FY2022 [159]. - The company aims to use more environmentally friendly materials and reduce the use of non-recyclable materials in production [177]. - The company continues to promote the use of soy ink in all printing processes, which significantly reduces VOC emissions compared to traditional solvent-based inks [179]. Corporate Governance - The board of directors held four meetings during the reporting period, with all members attending all meetings [90]. - The audit committee reviewed the audited consolidated financial statements for the reporting period and recommended approval to the board [103]. - The company has appointed three independent non-executive directors, ensuring independent judgment within the board [91]. - The board is responsible for formulating business strategies and monitoring the group's performance [95]. - The company regularly reviews and determines the remuneration of directors and senior management based on market levels and group performance [107]. - The audit committee consists of three members, ensuring compliance with corporate governance codes [102]. Employee and Workforce Management - The company employed 397 staff as of December 31, 2023, down from 459 in 2022, with total employee costs of approximately HKD 59.7 million compared to HKD 64.2 million in the previous year [67]. - Employee headcount at the end of FY2023 was 393, down from 454 in FY2022, reflecting a decrease of 61 employees or 13.44% [184]. - The number of employees resigning in FY2023 increased to 82 from 79 in FY2022, with those employed for less than 2 years decreasing from 36 to 30 [192]. - Total training hours increased from 3,558 in FY2022 to 3,566 in FY2023 [200]. - 1,558 employees participated in fire and chemical leak drills in FY2023, up from 1,426 in FY2022 [200]. - Employee turnover rate for those with over 2 years of service maintained below 10% [197].

Financial Performance - For the three months ended September 30, 2023, the company reported revenue of HKD 35,769,000, a decrease of 22.9% compared to HKD 46,431,000 in the same period of 2022[7]. - The gross profit for the same period was HKD 8,987,000, down 47.9% from HKD 17,243,000 year-on-year[7]. - Operating loss for the three months was HKD 2,357,000, compared to an operating profit of HKD 6,423,000 in the previous year[7]. - The company recorded a net loss of HKD 4,947,000 for the three months, compared to a profit of HKD 4,537,000 in the same period of 2022[7]. - For the nine months ended September 30, 2023, total revenue was HKD 121,933,000, a decline of 21.1% from HKD 154,665,000 in the same period of 2022[7]. - The net loss for the nine months was HKD 17,615,000, compared to a loss of HKD 16,671,000 in the previous year[7]. - Revenue for the nine months ended September 30, 2023, was approximately HKD 121.9 million, a decrease of about 21.2% from approximately HKD 154.7 million for the same period in 2022[30]. - The group reported a revenue of HKD 35.7 million for the three months ended September 30, 2023, down from HKD 46.4 million for the same period in 2022, representing a decline of approximately 23.1%[22]. - The group’s basic loss per share for the nine months ended September 30, 2023, was based on a loss attributable to equity holders of HKD 17.6 million[26]. - The company recorded a loss of approximately HKD 17.6 million for the nine months ended September 30, 2023, compared to a loss of HKD 16.7 million for the same period in 2022[41]. Equity and Shareholder Information - The company’s total equity as of September 30, 2023, was HKD 39,653,000, down from HKD 101,548,000 a year earlier[8]. - The company issued new shares amounting to HKD 4,275,000 during the nine months[8]. - The chairman and CEO, Mr. Lin, holds 48,000,000 shares, representing 55.17% of the company's equity, through First Tech Inc., which he fully owns[61]. - The major shareholder, First Tech, holds 55.17% of the company's equity, while another entity, Yili Credit Limited, holds 8.28% as a secured creditor[63][64]. - The company has a pledged share arrangement where 48,000,000 shares, equivalent to 8.28% of the issued share capital, are secured as collateral for a loan[61][63]. - The company completed a share consolidation, merging every ten existing shares into one, resulting in 86,998,000 consolidated shares[46]. - The company has no outstanding share options as of September 30, 2023, indicating no potential dilution from options[57]. Operational Challenges and Strategies - The company continues to face challenges in the market, impacting its financial performance and future outlook[7]. - The management is focused on cost control and exploring new market opportunities to improve financial results moving forward[7]. - The group plans to implement various measures to improve its financial position, including cost control and monitoring operational expenses[19]. - The group will actively negotiate with banks to renew or extend existing credit facilities and may sell certain properties to enhance liquidity[19]. - The group’s operational challenges are attributed to a decrease in sales orders influenced by overall global economic uncertainty[30]. - The company plans to improve equipment and increase automation to enhance market share and profitability[31]. Expenses and Financial Costs - Cost of sales decreased by approximately 18.1% from about HKD 113.6 million to about HKD 93.1 million during the same period[34]. - Gross profit for the nine months ended September 30, 2023, was approximately HKD 28.8 million, down from HKD 41.0 million, with gross margin decreasing from 26.5% to 23.6%[35]. - Other income decreased by approximately 25.2% from about HKD 17.3 million to about HKD 12.9 million, primarily due to reduced foreign exchange gains[36]. - Administrative expenses decreased from approximately HKD 44.1 million to HKD 40.7 million, mainly due to reduced employee salaries and depreciation[37]. - Financial costs increased from about HKD 4.8 million to HKD 7.4 million, primarily due to increased loan interest[39]. Governance and Compliance - The board of directors does not recommend the payment of a dividend for the nine months ended September 30, 2023, consistent with the previous year[28]. - The board believes that the deviation from the corporate governance code regarding the separation of roles of chairman and CEO is appropriate for effective management[54]. - The board consists of experienced individuals, including three independent non-executive directors, ensuring a balance of power and authority[53]. - The audit committee was established on November 15, 2017, and has reviewed the unaudited consolidated financial performance for the three and nine months ended September 30, 2023[66]. - The audit committee believes that the financial performance complies with applicable accounting standards and GEM listing rules, ensuring adequate disclosure[66]. - The company has confirmed compliance with the GEM Listing Rules regarding securities trading by directors for the nine months ended September 30, 2023[55]. - The company has not disclosed any interests or positions held by directors in competing businesses[65].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈之內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公佈全部或任何部分內容 而產生或因依賴該等內容而引致之任何損失承擔任何責任。 Prosperous Printing Company Limited 萬 里 印 刷 有 限 公 司 （於香港註冊成立的有限公司） （股份代號：8385） 截至 年 月 日止九個月 2023 9 30 第三季度業績公佈 萬里印刷有限公司（「本公司」）之董事（「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（「該期間」）之未經審核業績。 本公佈列載本公司該期間之財務報告（「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」）中有關該期間初步業績公佈附載之資料之要求。 載有GEM上市規則規定資料之本公司報告之印刷本將寄發予本公司股東，並可於GEM網 站(www.hkexnews.hk)及本公司網站 www.prosperous-printing-group.com.hk 內查閱。 承董事會命 ...

Financial Performance - The group's revenue for the six months ended June 30, 2023, was approximately HKD 86.2 million, a decrease of about 20.3% compared to HKD 108.2 million in the previous period[9]. - Gross profit for the same period was approximately HKD 19.8 million, down 16.8% from HKD 23.8 million, primarily due to a reduction in sales orders[9]. - The net loss for the period was approximately HKD 12.7 million, a decrease from a net loss of HKD 21.2 million in the previous period, mainly due to reduced distribution and administrative expenses[9]. - Revenue from the sale of books and paper products for the six months ended June 30, 2023, was HKD 86,154,000, down 20.3% from HKD 108,027,000 in 2022[29]. - The company reported a comprehensive income of approximately HKD 7.3 million for the period, compared to a comprehensive loss of HKD 24.5 million in the previous period[10]. - Basic and diluted loss per share was HKD 1.58, compared to a loss of HKD 0.03 in the previous period[10]. - For the six months ended June 30, 2023, the company reported a loss of approximately HKD 12,667,000, compared to a loss of HKD 21,208,000 for the same period in 2022[25]. - The company recorded a loss of approximately HKD 12.7 million for the period, an improvement from a loss of HKD 21.2 million in the previous period[60]. Assets and Liabilities - Total assets as of June 30, 2023, were approximately HKD 321.7 million, down from HKD 385.3 million in the previous year[11]. - Total liabilities decreased to approximately HKD 232.6 million from HKD 279.5 million in the previous year[13]. - The company's cash and cash equivalents were approximately HKD 2.0 million, down from HKD 3.4 million in the previous year[11]. - Trade and other receivables decreased to approximately HKD 88.8 million from HKD 121.1 million in the previous year[11]. - Total equity as of June 30, 2023, was HKD 89,170,000, a decrease from HKD 130,285,000 as of January 1, 2022[15]. - The company’s total liabilities included approximately HKD 136,800,000 in bank loans and overdrafts due within one year[25]. - The net current liabilities as of the reporting date were approximately HKD 85.1 million, down from HKD 126.4 million as of December 31, 2022[62]. Cash Flow and Operating Activities - The net cash used in operating activities for the six months ended June 30, 2023, was HKD (1,869,000), compared to HKD 10,481,000 generated in 2022[17]. - The company had a net cash and cash equivalents balance of HKD (11,078,000) as of June 30, 2023, compared to HKD (10,694,000) at the end of the previous year[17]. Dividends and Shareholder Actions - The board of directors did not recommend the declaration of an interim dividend for the period, consistent with the previous period[9]. - The company did not recommend the distribution of dividends for the six months ended June 30, 2023, consistent with the previous period[39]. - Following a placement agreement, the company issued 38,860,000 shares at a price of HKD 0.11 per share, increasing the total number of issued shares to 869,980,000[76]. - The company proposed a share consolidation at a ratio of 10 existing shares for 1 consolidated share, pending shareholder approval[76]. Operational Strategy and Future Outlook - The company plans to sell several properties as part of its strategy to improve financial conditions[28]. - The company aims to implement cost control measures to achieve sustainable positive cash flow from operations[28]. - The company plans to enhance automation, expand its customer base, and strengthen sales and marketing coverage to improve market share and profitability[48]. - The company remains cautiously optimistic about its performance for the full year 2023 as COVID-19 restrictions are lifted[49]. Employment and Corporate Governance - The group had a total of 448 employees as of the reporting date, down from 459 employees on December 31, 2022[73]. - The company has complied with the corporate governance code, except for a deviation regarding the separation of the roles of Chairman and CEO[82]. - Directors confirmed full compliance with the trading code during the reporting period[84]. - No directors or their close associates have interests in any competing businesses outside the group[96]. Other Financial Information - The company recorded a significant increase in other comprehensive income of HKD 44,032,000 for the six months ended June 30, 2023[15]. - Trade receivables, net of impairment losses, decreased from HKD 103.5 million in 2022 to HKD 73.3 million in 2023, a decline of approximately 29.2%[41]. - Trade payables decreased from HKD 57.5 million in 2022 to HKD 28.7 million in 2023, a decline of about 50.1%[43]. - Capital expenditures for the period amounted to approximately HKD 193.8 million, compared to HKD 202.9 million in the previous period[70]. - The company recorded a bank interest income of HKD 106, slightly up from HKD 101 in the previous period[35]. - The company has not made any significant investments or acquisitions outside of those disclosed during the reporting period[75]. - The company has not granted, exercised, canceled, or forfeited any share options during the reporting period[87]. - First Tech Inc. holds 480,000,000 shares, representing 60% of the company's issued share capital[94]. - A pledge of 72,000,000 shares, equivalent to 9% of the issued share capital, was established as collateral for a loan from Yili Credit Limited[95]. - The audit committee reviewed the unaudited consolidated financial performance for the period and confirmed compliance with applicable accounting standards and GEM listing rules[97].