香港交易及結算所有限公司及香港聯合交易所有限公司（「聯交所」）對本公告的內 容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公 告 全 部 或 任 何 部 分 內 容 而 產 生 或 因 倚 賴 該 等 內 容 而 引 致 的 任 何 損 失 承 擔 任 何 責 任。 HING MING HOLDINGS LIMITED 興 銘 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：8425） 截至二零二五年三月三十一日止年度之年度業績公告 興銘控股有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然公佈本公司及其附 屬公司截至二零二五年三月三十一日止年度之經審核綜合業績。本公告載列本公 司 二 零 二 五 年 年 報 全 文 ， 並 遵 守 聯 交 所 GEM 證 券 上 市 規 則（「GEM 上 市 規 則」）中 有關年度業績初步公告隨附資料的相關規定。 承董事會命 興銘控股有限公司 主席、執行董事兼行政總裁 鄧興強 香港，二零二五年六月二十日 於本公告日期，執行董事為鄧興強先生（ 主席兼行政總裁 ）及鄧銘禧先生；非執行 董事為區鳳怡女士及區立華先生；及獨立非執行 ...

Financial Performance - Revenue for the six months ended September 30, 2024, was HKD 40,768,000, a decrease of 23.9% compared to HKD 53,473,000 for the same period in 2023[4] - Gross profit for the same period was HKD 5,851,000, down 66.5% from HKD 17,513,000 in 2023[4] - The company reported a loss attributable to owners of HKD 8,199,000 for the six months ended September 30, 2024, compared to a profit of HKD 3,737,000 in 2023[4] - The company’s earnings per share for the period was a loss of HKD 2.18, compared to a profit of HKD 0.99 in the same period last year[4] - The company reported a loss of approximately HKD 8.2 million for the six months ended September 30, 2024, compared to a profit of approximately HKD 3.7 million for the same period in 2023[64] - Basic loss per share for the six months ended September 30, 2024, was HKD (2.18) cents, compared to earnings of HKD 0.99 cents per share in 2023[40] Cash Flow and Assets - The net cash generated from operating activities was HKD 5,243,000, a decrease from HKD 8,348,000 in the previous year[20] - Cash and cash equivalents at the end of the period were HKD 13,244,000, slightly down from HKD 13,288,000[20] - Total non-current assets increased to HKD 149,288,000 as of September 30, 2024, compared to HKD 138,482,000 as of March 31, 2024[5] - Trade receivables decreased significantly to HKD 12,504,000 from HKD 22,800,000[5] - The company has cash and cash equivalents of approximately HKD 13.2 million as of September 30, 2024, compared to approximately HKD 13.3 million as of March 31, 2024[66] Liabilities and Expenses - Current liabilities decreased to HKD 36,563,000 from HKD 38,499,000[5] - The company incurred financing costs of HKD 648,000, down from HKD 744,000 in the previous year[4] - The company’s total liabilities decreased from HKD 22,800,000 as of March 31, 2024, to HKD 12,504,000 as of September 30, 2024[44] - Administrative expenses remained relatively stable at approximately HKD 13.2 million for the six months ended September 30, 2024, compared to approximately HKD 12.8 million for the same period in 2023[62] - Deferred tax expense for the six months ended September 30, 2024, was HKD 403,000, compared to HKD 1,093,000 in the same period of 2023[34] Business Operations - The company operates primarily in the leasing and related services segment, which is considered its sole operating segment[30] - The company aims to strengthen its tower crane leasing services to capture market demand amid challenges[54] - The company has purchased additional tower cranes to diversify its revenue sources and meet market demand for tower crane rental services[101] - The company has retained two general technicians and one sales manager to support its tower crane rental business operations[101] Corporate Governance - The board believes that the current governance structure, with the chairman and CEO being the same person, provides strong and consistent leadership for the company[90] - The company has complied with all provisions of the corporate governance code except for the separation of the roles of chairman and CEO[92] - The audit committee has reviewed the interim financial statements for the period and confirmed compliance with applicable accounting standards and regulations[105] - The company will continue to monitor and review its governance practices to ensure compliance with corporate governance standards[90] Shareholding and Stock Options - The company has a shareholding structure where Mr. Tang Hing Keung and Ms. Au Yuen Yi each hold approximately 31.9% of the shares through their controlled entity, Hing Kee Holdings[80] - As of September 30, 2024, Hing Kee Holdings held 120,000,000 shares, representing approximately 31.9% of the issued shares[86] - The company has not granted any stock options since the adoption of the stock option plan, resulting in no unexercised stock options as of April 1, 2024, and September 30, 2024[93] - The company acquired a total of 80,000,000 shares from Mr. Li Ru Liang, representing approximately 21.28% of the total issued share capital, for a total consideration of HKD 3,200,000, equivalent to HKD 0.04 per share[96] Market and Risk Factors - The group faces foreign currency risks primarily from transactions denominated in currencies other than the functional currency, mainly involving RMB, EUR, and USD[72] - The company has not identified any business or interests that may compete with its operations during the reporting period[95] - As of September 30, 2024, the group had no significant acquisitions or disposals of subsidiaries, associates, or joint ventures[74] - As of September 30, 2024, the group had no significant investments held[75]

Financial Performance - For the six months ended September 30, 2024, the company reported revenue of HKD 40,768,000, a decrease of 23.9% compared to HKD 53,473,000 for the same period in 2023[7] - Gross profit for the same period was HKD 5,851,000, down 66.5% from HKD 17,513,000 in 2023[7] - The company incurred a loss attributable to owners of HKD 8,199,000, compared to a profit of HKD 3,737,000 in the previous year[7] - Basic and diluted loss per share was HKD 2.18, compared to earnings of HKD 0.99 per share in the prior year[7] - The company's total comprehensive income for the six months ended September 30, 2024, was HKD 3,737,000, compared to HKD 3,737,000 for the same period in 2023, indicating no change[31] - The company's financial performance declined from a profit and total comprehensive income of approximately HKD 3.7 million for the six months ended September 30, 2023, to a loss and total comprehensive expense of approximately HKD 8.2 million for the six months ended September 30, 2024, primarily due to a decrease in revenue[66] Cash Flow and Liquidity - The net cash generated from operating activities for the six months ended September 30, 2024, was HKD 5,243,000, down from HKD 8,348,000 in the previous year, representing a decline of 37%[23] - The company incurred a net cash outflow from investing activities of HKD 20,936,000 for the six months ended September 30, 2024, compared to a cash inflow of HKD 3,721,000 in the same period of 2023[23] - Financing activities generated a net cash inflow of HKD 15,649,000 for the six months ended September 30, 2024, compared to a net cash outflow of HKD 8,926,000 in the previous year[23] - The company reported cash and cash equivalents of HKD 13,244,000, slightly down from HKD 13,288,000[8] - The company’s cash and cash equivalents decreased to HKD 13,244,000 as of September 30, 2024, from HKD 17,350,000 at the end of the previous year, a decline of 24%[23] - As of September 30, 2024, the company had cash and cash equivalents of approximately HKD 13.2 million, a slight decrease from approximately HKD 13.3 million as of March 31, 2024[68] Assets and Liabilities - Non-current assets increased to HKD 149,288,000 as of September 30, 2024, up from HKD 138,482,000 as of March 31, 2024[8] - Trade receivables decreased significantly to HKD 12,504,000 from HKD 22,800,000[8] - Current liabilities decreased to HKD 36,563,000 from HKD 38,499,000[8] - Total equity decreased to HKD 108,693,000 from HKD 116,892,000[10] - The company’s total liabilities increased to HKD 108,693,000 as of September 30, 2024, compared to HKD 116,892,000 as of April 1, 2024, a decrease of 7%[22] - The company's debt, including interest-bearing payables, lease liabilities, loans, and borrowings, amounted to approximately HKD 36.5 million as of September 30, 2024, compared to approximately HKD 27.2 million as of March 31, 2024[68] - The asset-to-equity ratio was approximately 33.5% as of September 30, 2024, up from approximately 23.3% as of March 31, 2024, indicating an increase in leverage[68] Operational Efficiency and Strategy - The company is committed to improving operational efficiency and exploring new market opportunities to enhance future performance[6] - The company plans to adopt a proactive and cautious approach to its business strategy to enhance profitability and shareholder value in the future[58] - The company aims to strengthen its tower crane leasing services to capture market demand amid ongoing market challenges[56] - The company has diversified its revenue sources by acquiring additional tower cranes to meet market demand for tower crane rental services[103] - The company retained two general technicians and one sales manager to support the operations of its tower crane rental business[103] Market and Competitive Position - Revenue decreased by approximately 23.8% to about HKD 40.8 million for the six months ended September 30, 2024, down from approximately HKD 53.5 million for the same period in 2023, primarily due to reduced income from tower crane leasing and related services[59] - Gross profit fell by approximately 66.6% to about HKD 5.9 million for the six months ended September 30, 2024, compared to approximately HKD 17.5 million for the same period in 2023, with a gross margin of approximately 14.4%[61] - The company has established a customer and supplier base primarily in Germany, Belgium, Spain, and China for equipment and parts trading, enhancing its ability to meet customer needs[56] Governance and Compliance - The company has complied with all provisions of the corporate governance code, except for the separation of the roles of Chairman and CEO[94] - The board believes that the combined roles of Chairman and CEO provide strong and consistent leadership for the company[92] - The company continues to monitor and review its compliance with corporate governance standards to maintain high levels of governance practices[94] - The audit committee, established on February 23, 2017, includes three independent non-executive directors and has reviewed the interim financial statements for 2024[107] - The audit committee believes that the financial statements comply with applicable accounting standards and GEM listing rules[107] Shareholder Information - As of September 30, 2024, major shareholder Xingji holds approximately 120,000,000 shares, representing 31.9% of the total issued shares[88] - The company has not issued any stock options since the adoption of the stock option plan, with 40,000,000 options available for grant as of April 1, 2024, and September 30, 2024[95] - During the six months ending September 30, 2024, the company did not purchase, sell, or redeem any of its listed securities[99] - A mandatory unconditional cash offer was made to acquire a total of 80,000,000 shares, representing about 21.28% of the company's issued share capital, for a total consideration of HKD 3,200,000, equivalent to HKD 0.04 per share[98] - The offer received five valid acceptances involving a total of 48,132,000 shares, accounting for approximately 12.80% of the company's issued share capital[98] Risks and Challenges - The company faced foreign currency risks primarily from transactions denominated in currencies other than its functional currency, with major currencies being RMB, EUR, and USD[74] - The financial condition and operational performance of the company are influenced by various risks and uncertainties, as detailed in the prospectus under the "Risk Factors" section[104] - The company had no significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the six months ended September 30, 2024[76] - As of September 30, 2024, the company had no significant investments held[77] - The company had a capital commitment of approximately HKD 6.4 million as of September 30, 2024, down from approximately HKD 37.7 million as of March 31, 2024[72] Employee and Administrative Information - Employee costs for the six months ended September 30, 2024, were approximately HKD 13.5 million, an increase from approximately HKD 13.2 million for the same period in 2023, primarily due to higher director remuneration and monthly salaries[79] - The company employed 36 staff as of September 30, 2024, compared to 35 staff as of March 31, 2024[79] - Administrative expenses remained relatively stable at approximately HKD 13.2 million for the six months ended September 30, 2024, compared to approximately HKD 12.8 million for the same period in 2023[64] Dividends - The company did not declare any dividends for the six months ended September 30, 2024, consistent with the previous year[41]

Financial Performance - For the fiscal year 2024, the group recorded revenue of approximately HKD 107.8 million, an increase of about 9.8% from approximately HKD 98.2 million in the fiscal year 2023[7]. - The group reported a net loss of approximately HKD 0.6 million for the fiscal year 2024, a decline from a net profit of approximately HKD 2.4 million in the fiscal year 2023[7]. - Revenue for the fiscal year 2024 increased by approximately 9.8% to about HKD 107.8 million, up from approximately HKD 98.2 million in fiscal year 2023, primarily due to increased rental income from new tower cranes and related services[19]. - Cost of sales and services for fiscal year 2024 was approximately HKD 83.9 million, an increase of about 15.5% from approximately HKD 72.7 million in fiscal year 2023, driven by higher sales inventory and employee costs[20]. - Gross profit decreased by approximately 6.5% to about HKD 23.9 million in fiscal year 2024, with a gross margin of approximately 22.2%, down from 26.0% in fiscal year 2023, mainly due to inventory write-downs[21]. - Administrative expenses rose to approximately HKD 24.6 million in fiscal year 2024 from HKD 21.8 million in fiscal year 2023, primarily due to increased employee costs and director remuneration[23]. - Financing costs decreased by approximately 12.0% to about HKD 1.5 million in fiscal year 2024, down from HKD 1.7 million in fiscal year 2023, due to reduced outstanding bank loan balances[24]. - The group recorded a loss of approximately HKD 0.6 million in fiscal year 2024, compared to a profit of approximately HKD 2.4 million in fiscal year 2023, primarily due to increased employee costs and reduced gross profit[25]. - Capital expenditures for fiscal year 2024 were approximately HKD 32.8 million, with about 87.3% allocated to the purchase of additional tower cranes[26]. - As of March 31, 2024, the group had cash and cash equivalents of approximately HKD 13.3 million, down from HKD 14.2 million as of March 31, 2023[27]. - The debt-to-equity ratio as of March 31, 2024, was approximately 23.3%, a decrease from 26.5% as of March 31, 2023, mainly due to reduced bank loan balances[27]. Employee Costs and Management - The increase in employee costs, including director remuneration, contributed to the net loss, with an increase of approximately HKD 3.1 million noted[7]. - Employee costs for the fiscal year 2024 were approximately HKD 29.2 million, up from about HKD 26.1 million in fiscal year 2023, including performance bonuses of approximately HKD 6.6 million[39]. - The group employed 35 full-time employees as of March 31, 2024, compared to 32 in the previous fiscal year[39]. - The company conducts regular employee evaluations to assess performance and ensure competitive compensation[39]. - The company’s management aims to reward and recognize performing employees through competitive compensation and effective assessment systems[75]. Business Strategy and Market Position - The group aims to capture potential growth in the Hong Kong construction market despite a challenging business environment, focusing on long-term profitability and shareholder value[8]. - The group plans to explore other potential investment opportunities to diversify its business and create new revenue streams[9]. - The group is expanding its business by purchasing more tower cranes, anticipating continued strong demand driven by the increasing public housing application volume in Hong Kong[13]. - The group is committed to seeking other business opportunities in the Hong Kong construction industry to create sustainable returns for shareholders[16]. - The group aims to strengthen its market position in the hoisting industry and diversify its revenue sources[42]. Corporate Governance - The board consists of seven directors, including two executive directors, two non-executive directors, and three independent non-executive directors[46]. - The company has adopted a share option scheme to reward participants for their contributions to the group[39]. - The board of directors includes members who are eligible and willing to stand for re-election at the upcoming annual general meeting[89]. - The independent non-executive directors have emphasized the importance of corporate governance and risk management in the upcoming fiscal year[54]. - The company has confirmed the independence of all independent non-executive directors as per GEM listing rules[89]. - The company has adopted and complied with all applicable corporate governance code provisions, except for a deviation noted in the annual report[145]. Risk Management - The company has established a risk management and internal control system to identify, assess, and manage significant risks, with regular evaluations conducted at least annually[192]. - The board believes that the risk management and internal control systems are adequate and effective in managing risks associated with achieving business objectives[193]. - The board will assess the risks associated with the company's strategic goals and ensure the establishment of effective risk management systems[192]. Shareholder Information - The board did not recommend the payment of a final dividend for the fiscal year 2024, consistent with the previous fiscal year[34]. - The company did not declare or propose any dividends for the fiscal year 2024, consistent with the previous fiscal year[70]. - The company has a policy ensuring that all directors are re-elected at least once every three years, with one-third of the directors retiring at each annual general meeting[184]. - Shareholders holding at least 10% of the paid-up capital have the right to request the board to convene a special general meeting to discuss specified matters[200]. Audit and Compliance - The audit committee, composed of three independent non-executive directors, has reviewed the accounting principles and practices adopted by the group, ensuring compliance with financial reporting standards[139]. - The independent auditor for the fiscal year ending March 31, 2024, is Tianzhi Hong Kong CPA, who is eligible and willing to be reappointed at the upcoming annual general meeting[140]. - The total remuneration for the independent auditor, Tianzhi Hong Kong CPA, for the fiscal year 2024 amounted to HKD 633,300, which includes HKD 580,000 for audit services and HKD 38,300 for non-audit tax services[187]. Future Outlook - The company has outlined a future outlook with a projected revenue growth of 20% for the next fiscal year[54]. - New product development initiatives are underway, focusing on innovative technologies expected to launch in Q3 2024[54]. - The company is planning market expansion into Southeast Asia, targeting a 10% market share within the next two years[54]. - A strategic acquisition is in progress, aimed at enhancing the company's technological capabilities, with an estimated value of $100 million[54]. - The company has implemented new strategies to improve operational efficiency, aiming for a 5% reduction in costs by the end of the fiscal year[54].

Financial Performance - For the fiscal year ending March 31, 2024, the group recorded revenue of approximately HKD 107.8 million, an increase of about 9.8% from approximately HKD 98.2 million in the previous fiscal year[10]. - The group reported a net loss of approximately HKD 0.6 million for the fiscal year 2024, compared to a net profit of approximately HKD 2.4 million in the fiscal year 2023, primarily due to an increase in employee costs of about HKD 3.1 million and a decrease in gross profit[10]. - Revenue for the fiscal year 2024 increased by approximately 9.8% to about HKD 107.8 million, up from approximately HKD 98.2 million in fiscal year 2023, primarily due to increased rental income from new tower cranes and related services[22]. - The cost of sales and services for fiscal year 2024 was approximately HKD 83.9 million, representing an increase of about 15.5% from approximately HKD 72.7 million in fiscal year 2023[23]. - Gross profit decreased by approximately 6.5% to about HKD 23.9 million in fiscal year 2024, with a gross profit margin of approximately 22.2%, down from 26.0% in fiscal year 2023[24]. - Administrative expenses rose to approximately HKD 24.6 million in fiscal year 2024, compared to HKD 21.8 million in fiscal year 2023, mainly due to increased employee costs and director remuneration[26]. - The company recorded a total loss of approximately HKD 0.6 million in fiscal year 2024, compared to a profit of approximately HKD 2.4 million in fiscal year 2023, primarily due to increased employee costs and reduced gross profit[28]. - Other income decreased to approximately HKD 441,000 in fiscal year 2024 from HKD 974,000 in fiscal year 2023, primarily due to the absence of government subsidies in fiscal year 2024[25]. Business Strategy and Market Position - The company aims to capture potential growth in the Hong Kong construction market despite a challenging business environment characterized by global supply chain disruptions, inflation, and currency fluctuations[11]. - The group plans to adopt proactive and prudent business strategies to enhance long-term profitability and shareholder value[11]. - The company will explore other potential investment opportunities to diversify its business and create new revenue sources[12]. - The company aims to strengthen its market position in the crane industry and diversify its revenue sources through strategic investments in equipment and personnel[44]. - The company acquired a tower crane to expand its tower crane leasing services, addressing the growing demand for construction projects in Hong Kong[83]. Capital Expenditures and Financial Position - Capital expenditures for fiscal year 2024 amounted to approximately HKD 32.8 million, with about 87.3% allocated for the purchase of additional tower cranes[29]. - As of March 31, 2024, the company had cash and cash equivalents of approximately HKD 13.3 million, down from approximately HKD 14.2 million as of March 31, 2023[30]. - The debt-to-equity ratio as of March 31, 2024, was approximately 23.3%, a decrease from 26.5% as of March 31, 2023, due to a reduction in interest-bearing liabilities[30]. - As of March 31, 2024, the company's distributable reserves amounted to approximately HKD 15.8 million, a decrease from HKD 31.1 million in the previous year[87]. Employee and Management Information - The group employed 35 full-time employees as of March 31, 2024, with total employee costs amounting to approximately HKD 29.2 million, including performance bonuses of about HKD 6.6 million[42]. - The management team has over 20 years of experience in the shipping industry, indicating strong leadership capabilities[56]. - The company’s senior management includes individuals with over 30 years of experience in the construction industry, ensuring expertise in operations[67]. - The executive director has a background in compliance, ensuring regulatory adherence and risk management[54]. Corporate Governance and Compliance - The company has a strong governance structure with independent directors overseeing key committees, ensuring transparency and accountability[60]. - The independent non-executive director has over 20 years of experience in auditing, corporate finance, and investment banking, enhancing the company's financial oversight[63]. - The company has complied with all applicable laws and regulations in Hong Kong that have a significant impact on its operations during the fiscal year 2024[82]. - The company has established a risk management and internal control system to identify, assess, and manage significant risks, with regular evaluations conducted at least annually[196]. - The board consists of seven directors, with non-executive and independent non-executive directors making up over 70% of the board members[153]. Shareholder Information - The company did not recommend the payment of a final dividend for the fiscal year 2024, consistent with the previous fiscal year[37]. - The company did not declare or propose any dividends for the fiscal year 2024, consistent with the previous fiscal year[73]. - The company is owned approximately 31.9% by Xingji Limited, which is controlled by Mr. Deng Xingqiang and Ms. Qu Fengyi, holding 90.0% and 10.0% respectively[103]. - Mr. Li Ruliang holds a beneficial interest in 98,524,000 shares, representing 26.2% of the total issued shares[103]. - Ms. Liang Chumei has a beneficial interest in 26,836,000 shares, accounting for 7.13% of the total issued shares[103]. Related Party Transactions - Related party transactions during the fiscal year 2024 included agreements with Meixin Jewelry Manufacturing Co., Ltd. for registered office services and with Mr. Qu Zhuhua for inspection and testing services[117]. - The company has complied with the disclosure requirements under the GEM Listing Rules regarding related party transactions[119]. - No significant contracts were entered into with the controlling shareholder or their subsidiaries during the fiscal year 2024[121]. Board and Committee Activities - The board held a total of seven meetings during the fiscal year 2024, with attendance records showing full participation from executive and non-executive directors[160]. - The Audit Committee held three meetings during the fiscal year 2024, reviewing the group's annual consolidated financial statements and risk management[169]. - The Compensation Committee held three meetings in the fiscal year 2024 to determine the remuneration policy for executive directors and review related matters[174]. - The Nomination Committee held one meeting in the fiscal year 2024 to review the board's structure and recommend the reappointment of retiring directors[180]. Risk Management - The company has implemented strict internal controls to prevent unauthorized use of confidential or insider information[197]. - The board believes that the risk management and internal control systems are adequate and effective in managing risks associated with achieving business objectives[196].

香港聯合交易所有限公司（「聯交所」）GEM之特色 GEM的定位，乃為中小型公司提供一個上市的市場，此等公司相比起其他在聯交 所主板上市的公司帶有較高投資風險。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買賣之證券將會有高 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份內容而產生 或因倚賴該等內容而引致的任何損失承擔任何責任。 本報告的資料乃遵照聯交所GEM證券上市規則（「GEM上市規則」）而刊載，旨在提 供有關興銘控股有限公司（「本公司」）的資料；本公司的董事（「董事」）願就本報告 的資料共同及個別地承擔全部責任。各董事在作出一切合理查詢後，確認就其所知 及所信，本報告所載資料在各重要方面均屬準確完備，沒有誤導或欺詐成份，並無 遺漏其他事項致使本報告所載任何陳述或本報告產生誤導。 中期業績 董事會（「董事會」）欣然公佈本公司及其附屬公司 ...

香 港 交 易 及 結 算 所 有 限 公 司 及 香 港 聯 合 交 易 所 有 限 公 司(「聯 交 所」)對 本 公 告 的 內 容 概 不 負 責,對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明,並 明 確 表 示 概 不 就 因 本 公 告 全 部 或 任 何 部 分 內 容 而 產 生 或 因 倚 賴 該 等 內 容 而 引 致 的 任 何 損 失 承 擔 任 何 責 任。 HING MING HOLDINGS LIMITED 興銘控股有限公司 (於開曼群島註冊成立的有限公司) (股份代號:8425) 截 至 二 零 二 三 年 九 月 三 十 日 止 六 個 月 之 中 期 業 績 公 告 興 銘 控 股 有 限 公 司(「本 公 司」)董 事(「董 事」)會(「董 事 會」)欣 然 公 佈 本 公 司 及 其 附 屬 公 司 截 至 二 零 二 三 年 九 月 三 十 日 止 六 個 月 之 未 經 審 核 綜 合 業 績。 本 公 告 載 列 本 公 司 二 零 二 三 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 ...

Financial Performance - The company's revenue for the three months ended June 30, 2023, was HKD 32,208,000, representing a 26.8% increase from HKD 25,437,000 in the same period of 2022[3] - Gross profit for the same period was HKD 12,772,000, up 77.5% from HKD 7,188,000 year-on-year[3] - Profit before tax for the three months was HKD 4,533,000, slightly up from HKD 4,521,000 in the previous year, indicating a marginal increase of 0.3%[3] - The net profit attributable to the owners of the company for the period was HKD 3,626,000, down 12.8% from HKD 4,159,000 in the same quarter of 2022[3] - Basic and diluted earnings per share for the period were HKD 0.96, compared to HKD 1.04 in the previous year, reflecting a decrease of 7.7%[3] - The total profit and comprehensive income for the three months ended June 30, 2023, decreased by approximately 12.8% to about HKD 3.6 million, compared to approximately HKD 4.2 million for the same period in 2022[34] Revenue Breakdown - Revenue from leasing and related services was HKD 31,923,000, a 32.8% increase from HKD 24,039,000 in the prior year[13] - Revenue from equipment and parts trading decreased to HKD 285,000 from HKD 1,398,000, a decline of 79.6%[13] - The company's revenue for the three months ended June 30, 2023, increased by approximately 26.6% to about HKD 32.2 million, compared to approximately HKD 25.4 million for the same period in 2022[27] Expenses and Costs - The company's administrative expenses increased significantly to HKD 8,753,000 from HKD 2,740,000, reflecting a rise of 219.5%[3] - The cost of sales and services for the three months ended June 30, 2023, was approximately HKD 19.4 million, an increase of about 6.5% from HKD 18.2 million in the same period in 2022[28] - Administrative expenses surged by approximately 219.5% to about HKD 8.8 million, primarily due to increased salaries and performance bonuses for directors[32] Shareholder Information - The company is approximately 31.9% owned by Xingji Limited, which is controlled by Mr. Deng Xingqiang (90% ownership) and Ms. Qu Fengyi (10% ownership) [38] - As of June 30, 2023, Xingji Limited holds 120,000,000 shares, representing 31.9% of the total issued shares, while Mr. Li Ruliang holds 98,524,000 shares, accounting for 26.2% [42] - The company did not declare any dividends for the three months ended June 30, 2023, consistent with the previous year[20] Compliance and Governance - The company has maintained compliance with all corporate governance code provisions as of June 30, 2023, except for the separation of the roles of chairman and CEO [43] - The audit committee was established on February 23, 2017, in compliance with corporate governance codes and GEM listing rules, consisting of three independent non-executive directors[52] - The audit committee reviewed the unaudited consolidated financial statements and confirmed compliance with applicable accounting standards and GEM listing rules[52] - The board of directors confirmed compliance with the trading regulations for securities during the three months ended June 30, 2023 [48] Future Outlook - The company is focused on expanding its equipment leasing services and exploring new business opportunities in the Hong Kong construction industry to create sustainable returns for shareholders[25] - The financial condition and operational performance of the company are subject to various risks and uncertainties [49] - The board is not aware of any significant events that occurred after June 30, 2023, that require disclosure [50] Other Information - The company has not granted any stock options since the adoption of its stock option plan in February 2017, and there are no unexercised stock options as of June 30, 2023 [44] - There were no purchases, sales, or redemptions of the company's listed securities during the three months ended June 30, 2023 [47] - The company has not identified any business or interests that may compete with its operations as of June 30, 2023 [46] - The company has a strong leadership structure with Mr. Deng Xingqiang serving as both chairman and CEO, which the board believes benefits the group's operations [43] - Other income for the three months ended June 30, 2023, was approximately HKD 891,000, compared to HKD 441,000 for the same period in 2022, mainly due to recovery of impairment losses[30] - Deferred tax expenses for the three months ended June 30, 2023, were HKD 907,000, compared to HKD 362,000 for the same period in 2022[5]

香 港 交 易 及 結 算 所 有 限 公 司 及 香 港 聯 合 交 易 所 有 限 公 司(「聯 交 所」)對 本 公 告 的 內 容 概 不 負 責,對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明,並 明 確 表 示 概 不 就 因 本 公 告 全 部 或 任 何 部 分 內 容 而 產 生 或 因 倚 賴 該 等 內 容 而 引 致 的 任 何 損 失 承 擔 任 何 責 任。 HING MING HOLDINGS LIMITED 興銘控股有限公司 (於開曼群島註冊成立的有限公司) (股份代號:8425) 截 至 二 零 二 三 年 六 月 三 十 日 止 三 個 月 之 第 一 季 度 業 績 公 告 興 銘 控 股 有 限 公 司(「本 公 司」)董 事(「董 事」)會(「董 事 會」)欣 然 公 佈 本 公 司 及 其 附 屬 公 司 截 至 二 零 二 三 年 六 月 三 十 日 止 三 個 月 之 未 經 審 核 綜 合 業 績。 本 公 告 載 列 本 公 司 二 零 二 三 年 第 一 季 度 報 告 全 文,符 合 香 港 聯 合 交 易 所 有 限 公 司GEM證 ...

Financial Performance - The company recorded revenue of approximately HKD 98.2 million for the fiscal year 2023, representing a 30.2% increase from approximately HKD 75.4 million in fiscal year 2022[7]. - The company achieved a net profit of approximately HKD 2.4 million in fiscal year 2023, a turnaround from a net loss of approximately HKD 3.0 million in fiscal year 2022, primarily due to a recovery of trade receivables impairment loss of approximately HKD 1.2 million[7]. - The increase in revenue was mainly driven by higher rental income from new tower cranes and an increase in the utilization rate of existing tower cranes[7]. - The company's revenue for the fiscal year 2023 increased by approximately 30.2% to about HKD 98.2 million, up from approximately HKD 75.4 million in fiscal year 2022, primarily due to rental income from new tower cranes and an increase in the rental rate of existing tower cranes[19]. - Gross profit rose by approximately 35.7% to about HKD 25.6 million in fiscal year 2023, with a stable gross margin of approximately 26.0% compared to 25.0% in fiscal year 2022[21]. - The cost of sales and services for fiscal year 2023 was approximately HKD 72.7 million, representing an increase of about 28.4% from approximately HKD 56.6 million in fiscal year 2022, consistent with the revenue growth[20]. - Other income increased significantly to approximately HKD 974,000 in fiscal year 2023 from HKD 72,000 in fiscal year 2022, mainly due to income from the anti-epidemic fund and foreign exchange gains[22]. - Administrative expenses increased to approximately HKD 21.8 million in fiscal year 2023 from HKD 16.6 million in fiscal year 2022, primarily due to performance bonuses paid to directors and employees[23]. - Financing costs rose by approximately 65.5% to about HKD 1.7 million in fiscal year 2023, up from HKD 1.0 million in fiscal year 2022, driven by increased interest on bank loans and lease liabilities[24]. - The company recorded a profit of approximately HKD 2.4 million in fiscal year 2023, a turnaround from a loss of approximately HKD 3.0 million in fiscal year 2022, attributed to reduced impairment losses and increased rental income[25]. Business Strategy and Growth - The company plans to explore other potential investment opportunities to diversify its business and create new revenue streams[9]. - The company is confident that the demand for tower cranes will remain strong in the coming years, driven by the increasing applications for public housing in Hong Kong[13]. - The company is actively seeking other business opportunities in the Hong Kong construction industry to create sustainable returns for shareholders[16]. - The company has expanded its business by purchasing more tower cranes to meet the growing demand in the housing construction sector[13]. - The company has purchased six tower cranes to diversify its revenue sources and capture market demand in the tower crane rental service[42]. - The company has allocated HKD 42.4 million from the net proceeds to diversify its revenue sources and capture market demand in the tower crane rental service[44]. Shareholder Value and Capital Management - The company repurchased a total of 24,000,000 shares during the fiscal year 2023, with a total cost of HKD 6.26 million, enhancing shareholder value[40]. - The net proceeds from the share issuance amounted to approximately HKD 53.3 million, with all funds allocated as planned by March 31, 2023[44]. - As of March 31, 2023, the company's cash and cash equivalents were approximately HKD 14.2 million, down from HKD 30.4 million in fiscal year 2022, indicating a decrease in liquidity[27]. - The company's debt-to-equity ratio increased to approximately 26.5% as of March 31, 2023, compared to 25.2% in fiscal year 2022, primarily due to an increase in interest-bearing liabilities[28]. Corporate Governance - The company has a board of seven directors, including two executive directors, two non-executive directors, and three independent non-executive directors, responsible for overall management and business operations[46]. - The board confirmed compliance with all applicable laws and regulations in Hong Kong that have a significant impact on the company as of the report date[80]. - The company has established long-term business relationships with several clients, some exceeding 10 years[77]. - The company has maintained sufficient public float as required under GEM listing rules throughout the fiscal year 2023[130]. - The company has complied with all applicable corporate governance code provisions as outlined in the GEM listing rules for the fiscal year 2023[133]. - The company emphasizes the importance of good corporate governance elements in its management structure, internal controls, and risk management processes[144]. - The board consists of seven directors, with non-executive and independent non-executive directors making up over 70% of the board members[150]. - The company has at least three independent non-executive directors, meeting GEM listing rules requirements[153]. - The independent auditor for the fiscal year ending March 31, 2023, was Tianzhi Hong Kong CPA, who will be proposed for reappointment at the upcoming annual general meeting[140]. Employee Management and Development - The company has retained two general technicians and one sales manager to support the operations of the tower crane rental business[42]. - The company’s management emphasizes the importance of employee development through competitive compensation and training opportunities[76]. - The company conducted regular employee evaluations to assess performance and ensure competitive compensation[38]. - As of March 31, 2023, the company employed 37 full-time employees, with employee costs amounting to approximately HKD 26.1 million, an increase from HKD 17.7 million in the previous fiscal year[38]. Risk Management - The board is responsible for the risk management and internal control systems, ensuring they are effective in identifying and mitigating potential risks[195]. - The company has established and implemented risk management procedures to identify, assess, and manage significant risks, with regular internal control assessments conducted[196]. - The board believes that the group's risk management and internal control systems are adequate and effective, covering financial, operational, compliance, and risk management controls[196]. Compliance and Regulatory Matters - The company has received annual confirmations from its controlling shareholders regarding compliance with the non-competition agreement[122]. - The company has implemented appropriate insurance for directors' liability as part of its governance practices[125]. - All independent non-executive directors have confirmed their independence in accordance with GEM Listing Rules[90]. - The company has no knowledge of any other individuals or entities holding interests that require disclosure under the Securities and Futures Ordinance as of March 31, 2023[101].