香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容 概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示概不就 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。 FURNIWEB HOLDINGS LIMITED 飛 霓 控 股 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：8480） 截 至 二 零 二 三 年 六 月 三 十 日 止 六 個 月 中 期 業 績 公 告 香港聯合交易所有限公司（「聯交所」）GEM的特色 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 他在聯交所上市的公司帶有較高投資風險。有意投資的人士應了解投資 於該等公司的潛在風險，並應經過審慎周詳的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買賣的證券可能會較於聯 交所主板買賣之證券承受較大的市場波動風險，同時無法保證在GEM買 賣的證券會有高流通量的市場。 本公告的資料乃遵照聯交所的《GEM證券上市規則》（「GEM上市規則」）而 刊載，旨在提供有關飛霓控股有限公司（「本公司」，連同其 ...

Financial Performance - The group reported revenue of MYR 60,219,000 for the three months ended March 31, 2023, representing a 100% increase from MYR 30,083,000 in the same period of 2022[3]. - Gross profit for the same period was MYR 13,355,000, up 62.5% from MYR 8,223,000 year-on-year[3]. - The net profit for the period was MYR 3,750,000, an increase of 28.9% compared to MYR 2,911,000 in the previous year[3]. - Basic and diluted earnings per share increased to 0.62 sen from 0.52 sen, reflecting a growth of 19.2%[3]. - Operating profit for the same period was 4,922 thousand MYR, compared to 2,262 thousand MYR in the previous year, reflecting a 118% increase[14][15]. - The total comprehensive income for the period was MYR 4,701,000, compared to MYR 3,295,000 in the same period last year, marking a 42.7% increase[3]. - The Asia-Pacific region contributed 54,134 thousand MYR to revenue, significantly up from 21,449 thousand MYR in the previous year, marking a 152% increase[19]. - The company reported a significant increase in contract revenue to 34,061 thousand MYR, which was not present in the previous year[22]. - The production department's revenue decreased to approximately 22.8 million MYR, down by 7.2 million MYR or 24.0% year-on-year, primarily due to a slowdown in global demand and increased inflation[36]. - The energy efficiency department generated revenue of approximately 37.4 million MYR, compared to zero in the previous year, contributing significantly to the overall revenue increase[41]. - Gross profit for the period was approximately 13.4 million MYR, an increase of 5.2 million MYR or 63.4% year-on-year, driven by the energy efficiency department's contribution[46]. - The gross profit margin decreased from 27.2% to 22.3%, mainly due to the lower margin of the energy efficiency department compared to the production department[46]. - The net profit for the period was approximately 3.8 million MYR, an increase of 0.9 million MYR or 31.0% compared to the previous year[51]. Expenses and Costs - The group incurred administrative expenses of MYR 7,933,000, which is a 67.5% increase from MYR 4,749,000 in the prior year[3]. - The group's financing costs rose to MYR 226,000 from MYR 119,000, indicating an increase of 90.8%[3]. - The company incurred financing costs of 226 thousand MYR for the three months ended March 31, 2023, compared to 119 thousand MYR in the same period of 2022, indicating an increase of 90%[26]. Shareholder Information - The average number of ordinary shares issued increased to 601,566 thousand shares from 560,000 thousand shares year-on-year[34]. - As of March 31, 2023, PRG Holdings holds 303,468,000 shares, representing 50.45% of the company's issued share capital[79]. - As of March 31, 2023, the company has 601,565,600 shares issued, with the board members holding a total of 260,000 shares, which is approximately 0.04%[74][76]. - Major shareholder Ng Yan Cheng holds 66,977,600 shares, representing 11.13% of the company[79]. - The company proposed to increase its authorized share capital from HKD 100 million (1 billion shares) to HKD 200 million (2 billion shares) to provide greater flexibility for future expansion and growth[70]. - The company will hold a special general meeting for shareholders to consider the proposed increase in share capital[70]. Risk Management and Compliance - The group has established a Risk Management Committee consisting of two independent non-executive directors and one executive director to oversee risk management activities and ensure effective procedures are in place[58]. - During the reporting period, the Risk Management Committee did not identify any sanctions risk for the group, indicating a proactive approach to compliance with international sanctions[58]. - The audit committee reviewed the unaudited condensed consolidated results for the period and confirmed compliance with applicable accounting standards and GEM listing rules[85]. - The audit committee consists of three independent non-executive directors, ensuring oversight of financial reporting and internal controls[83]. - The company confirmed that all directors complied with the trading code during the reporting period, with no non-compliance issues reported[82]. Future Outlook - Future strategies and market expansion plans were not detailed in the report, indicating a potential area for further communication[3]. - The company anticipates continued challenges from supply chain disruptions, rising material costs, and demand slowdown, while also expecting global energy consumption to increase in 2023[55]. - The company believes that the energy efficiency business will positively contribute to its performance, supported by government policies and rising energy costs[55]. Corporate Actions - The company entered into a conditional sale agreement to purchase 50 multi-storey units in the Picasso Residence development in Malaysia for a total consideration of MYR 61,982,000 (approximately HKD 109,689,545.40), with part of the payment made in cash and part through the issuance of new shares[68]. - The company announced changes in executive directors and compliance officers effective April 30, 2023, with new appointments made to the risk management committee[70]. - The company did not purchase, sell, or redeem any of its listed securities during the reporting period[71].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容 概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對 因本公告全部或任何部分內容而產生或因倚賴該等內容而引致的任何損 失承擔任何責任。 FURNIWEB HOLDINGS LIMITED 飛 霓 控 股 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：8480） 截 至 二 零 二 三 年 三 月 三 十 一 日 止 三 個 月 第 一 季 度 業 績 公 告 香港聯合交易所有限公司（「聯交所」）GEM的特色 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 他在聯交所上市的公司帶有較高投資風險。有意投資的人士應了解投資 於該等公司的潛在風險，並應經過審慎周詳的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買賣的證券可能會較於聯 交所主板買賣之證券承受較大的市場波動風險，同時無法保證在GEM買 賣的證券會有高流通量的市場。 本公告的資料乃遵照聯交所的《GEM證券上市規則》（「GEM上市規則」）而 刊載，旨在提供有關飛霓控股有限公司（「本 ...

Financial Performance - The company reported a significant revenue increase of 22.0% to RM 162.2 million compared to the previous year[7]. - Profit surged to RM 18.2 million, a substantial increase of 250.0% from RM 5.2 million in the prior year[7]. - Revenue for the fiscal year was approximately 162.2 million MYR, an increase of 29.3 million MYR or 22.0% compared to the previous year[15]. - The energy efficiency segment generated revenue of approximately 49.8 million MYR, a significant increase from zero in the previous year, driven by major projects like Changi Airport Terminal 2[14]. - The flexible textile segment reported revenue of approximately 36.9 million MYR, an increase of 8.6 million MYR or 30.4% from the previous year, due to increased sales in the Asia-Pacific, North America, and Europe[12]. - The production segment's revenue was approximately RM 112.1 million, a decrease of about RM 3.8 million or 3.3% from RM 115.9 million in the previous year[11]. - The production segment accounted for approximately 69.2% of total revenue, down from 87.2% in the previous year[16]. - Gross profit decreased to approximately 41.4 million MYR, a reduction of 4.8 million MYR or 10.4% compared to the previous year, primarily due to the impact of the sold securities brokerage business[19]. - Other net income increased by 10.5 million MYR or 126.5%, reaching approximately 2.2 million MYR, due to gains from the sale of an associate company[20]. Market Strategy and Outlook - The company aims to expand its market share in Malaysia by leveraging the experience and expertise of its Singapore team[7]. - The outlook for the energy efficiency industry remains optimistic, despite a cautious stance on the manufacturing sector due to anticipated global economic slowdown[8]. - The company continues to seek growth opportunities and aims to deliver returns to shareholders despite recent challenges[8]. - The company plans to continue operations under constraints, reassessing market demand and pricing strategies while adjusting cost structures to maintain competitiveness amid economic slowdown[50]. - Global energy consumption is anticipated to continue increasing in 2023, driven by high energy prices and potential reductions in Russian gas and oil supplies, which will heighten the urgency for energy efficiency initiatives[50]. - The company believes that government policies aimed at reducing greenhouse gas emissions and promoting energy efficiency will positively contribute to its performance[50]. Operational Efficiency - The company is focused on streamlining operations and minimizing business disruptions in collaboration with customers and suppliers[8]. - Selling and distribution costs decreased by approximately 3.6 million MYR or 52.2% to 3.3 million MYR, mainly due to the closure of retail operations[21]. - Administrative expenses were 23.3 million MYR, a decrease of 0.8 million MYR or 3.3% from the previous year, attributed to the sale of the securities brokerage business[22]. - The gross margin decreased from 34.8% to 25.5%, influenced by increased labor and manufacturing overhead costs in the energy efficiency segment[19]. Corporate Governance and Management - The company has a strong management team with extensive experience in the automotive and manufacturing sectors, including over 30 years in sales and marketing management[59]. - The board of directors includes experienced individuals with significant backgrounds in various industries, contributing to the company's long-term strategic planning[56]. - The company has been focusing on strategic planning and business development since November 2013, with a significant emphasis on operational management in production and energy efficiency sectors[61]. - The company has a structured approach to corporate governance, with established committees for audit, remuneration, and nominations to ensure accountability and transparency[66]. - The board comprises both executive and independent non-executive directors, ensuring a balance of expertise and independent judgment[156]. - The company has established a remuneration committee in accordance with GEM listing rules to review compensation policies and related matters for directors and senior management[117]. Risk Management - The company faces various risks including operational, market, liquidity, credit, and regulatory risks, and has implemented a risk management policy to address these[99]. - The company has a robust risk management framework to address major risks and uncertainties[78]. - The risk management committee has been formed to monitor and assess international sanction risks, with no identified threats to the group as of the report date[124]. - The company must maintain multiple licenses and permits to operate in Malaysia, Vietnam, and China, which are subject to approval and verification by relevant authorities[100]. Shareholder Information - The company does not recommend the payment of a final dividend for the fiscal year[82]. - The company's distributable reserves as of December 31, 2022, amounted to RM 92.1 million, an increase from RM 69.0 million in 2021[89]. - The company has not purchased, sold, or redeemed any of its listed securities during the fiscal year[86]. - The company has a loan agreement with PRG Holdings for a maximum principal amount of 5 million MYR (approximately 8.334 million HKD), generating interest income at an annual rate of 6%[137]. Employee and Workplace Culture - Employee costs for the fiscal year were approximately MYR 33.7 million, an increase from MYR 27.8 million in 2021, with the number of employees rising to 623 from 515[36]. - The company focuses on employee welfare, providing a fair and diverse work environment, and regularly reviews compensation and benefits[106]. - The company is committed to identifying and appointing at least one female director by December 31, 2024, to enhance gender diversity on the board[174]. - The employee gender ratio was approximately 67.2% male to 32.8% female, an increase from 62.2% male to 37.8% female the previous year[175]. Environmental and Social Responsibility - The company has established an environmental policy to guide daily operations towards higher environmental standards[97]. - The company has been actively involved in energy efficiency business as part of its operations[80]. - The company has a strong commitment to compliance and risk management, with dedicated committees overseeing these areas since November 2019[64]. Acquisitions and Investments - The group completed the acquisition of the remaining 62.75% equity in ESGL for HKD 58,191,840 (approximately MYR 31,423,594) on August 29, 2022, making ESGL a wholly-owned subsidiary[30]. - The company has completed the acquisition of all issued shares of West Cow on October 15, 2020, and subsequently sold it in March 2021[46]. - The company has utilized approximately MYR 6.5 million (equivalent to HKD 18.9 million) from the IPO proceeds for the purchase of machinery to expand the production capacity of narrow elastic webbing, elastic yarn, and safety belt webbing[44].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容 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之任何損 失承擔任何責任。 FURNIWEB HOLDINGS LIMITED 飛 霓 控 股 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：8480） 截 至 二 零 二 二 年 十 二 月 三 十 一 日 止 年 度 年 度 業 績 公 告 香港聯合交易所有限公司（「聯交所」）GEM的特色 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 他在聯交所上市的公司帶有較高投資風險。有意投資的人士應了解投資 於該等公司的潛在風險，並應經過審慎周詳的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買賣的證券可能會較於聯 交所主板買賣之證券承受較大的市場波動風險，同時無法保證在GEM買 賣的證券會有高流通量的市場。 本公告的資料乃遵照《聯交所GEM證券上市規則》（「GEM上市規則」）而刊載， 旨在提供有關飛霓控股有限公司（「本公司」，連同 ...

Financial Performance - For the nine months ended September 30, 2022, the group reported total revenue of 90,349 thousand HKD, a decrease of 11% compared to 101,508 thousand HKD for the same period in 2021[4] - Gross profit for the nine months ended September 30, 2022, was 24,180 thousand HKD, down 40% from 40,252 thousand HKD in the same period of 2021[4] - The net profit for the nine months ended September 30, 2022, was 8,810 thousand HKD, a significant decrease of 64% compared to 24,296 thousand HKD in the same period of 2021[4] - The company reported a basic and diluted earnings per share of 1.56 cents for the nine months ended September 30, 2022, compared to 3.04 cents in the same period of 2021[8] - The total comprehensive income for the nine months ended September 30, 2022, was 11,034 thousand HKD, down from 27,917 thousand HKD in the same period of 2021[8] - Other income for the nine months ended September 30, 2022, was 899 thousand HKD, a decrease of 88% compared to 7,726 thousand HKD in the same period of 2021[4] - The profit for the period was 8.8 million MYR, a decrease of approximately 15.5 million MYR or 63.8% compared to 24.3 million MYR in the same period last year[86] Expenses and Costs - The group incurred administrative expenses of 15,163 thousand HKD for the nine months ended September 30, 2022, compared to 16,273 thousand HKD in the same period of 2021, reflecting a decrease of 6.8%[4] - The company recorded a financing cost of 453 thousand HKD for the nine months ended September 30, 2022, down from 925 thousand HKD in the same period of 2021, indicating a reduction of 51%[4] - The company’s depreciation and amortization expenses for the nine months ended September 30, 2022, totaled 2,268 thousand MYR, compared to 2,094 thousand MYR in the previous year, reflecting an increase of 8.3%[44] - The company’s income tax expense for the nine months ended September 30, 2022, was 1,791 thousand MYR, compared to 1,047 thousand MYR in the previous year, indicating a significant increase of 71.0%[58] Revenue Segments - For the nine months ending September 30, 2022, the company generated external customer revenue of 84,116 thousand MYR in the production segment, with an operating profit of 9,529 thousand MYR[39] - Revenue from the production segment was approximately 84.1 million MYR, consistent with 83.5 million MYR in the previous year, with domestic and export sales accounting for approximately 39.4% and 60.6% of total production revenue, respectively[68] - Revenue from elastic textiles increased by 32.6% to approximately 28.5 million MYR, driven by increased sales from customers in the Asia-Pacific, North America, and Europe[68] - Revenue from the energy efficiency segment was approximately 6.0 million MYR, a significant increase from zero in the previous year, following the acquisition of ESGL[72] Strategic Initiatives - The company aims to enhance market expansion and product development strategies in the upcoming quarters to improve financial performance[4] - The company plans to continue expanding its energy efficiency business, leveraging the recent acquisition to enhance market presence[31] - The company completed the acquisition of 62.75% equity in Energy Solution Global Limited on August 29, 2022, diversifying its business segments[31] - The company completed the acquisition of the remaining 62.75% of ESGL, making it a wholly-owned subsidiary, indicating a strategic focus on energy efficiency solutions[72] Market Conditions and Challenges - Supply chain disruptions and rising material costs remain significant challenges affecting manufacturing operations, with labor shortages and ongoing delays exacerbating the situation[89] - The company plans to reassess market demand and pricing strategies while adjusting cost structures to maintain competitiveness amid global economic uncertainties[89] - The company anticipates continued global energy consumption growth in 2023, driven by high energy prices and government initiatives to reduce greenhouse gas emissions[92] Compliance and Governance - The company has confirmed compliance with corporate governance codes during the reporting period[97] - The board of directors confirmed compliance with the trading code during the reporting period[128] - The audit committee believes that the financial results have been prepared in accordance with applicable accounting standards and regulations[129] Shareholder Information - As of September 30, 2022, PRG Holdings holds 303,468,000 shares, representing 50.45% of the company's issued share capital[119] - Ng Yan Cheng owns 66,977,600 shares, accounting for 11.13% of the company's issued share capital[119] - Lua Choon Hann holds 32,322,800 shares in PRG Holdings, representing 7.52%[114] - The company has a total of 601,565,600 issued shares as of September 30, 2022[110] Other Information - The company did not recommend any dividend payment for the current period, consistent with the previous year where no dividend was declared[61] - The company has not engaged in any transactions with sanctioned countries or individuals during the period, ensuring compliance with international sanctions[93] - Risk management measures have been established to monitor and assess potential international sanctions risks, including the formation of a risk management committee[94] - The board is unaware of any significant events that require disclosure after September 30, 2022, up to the report date[88] - No share options were granted under the share option scheme as of September 30, 2022[87] - The company has not purchased, sold, or redeemed any of its listed securities during the reporting period[109]

Financial Performance - Revenue for the six months ended June 30, 2022, was HKD 57,857,000, a decrease of 26.7% compared to HKD 78,867,000 for the same period in 2021[3] - Gross profit for the same period was HKD 15,361,000, down 55.7% from HKD 34,714,000 in 2021[3] - Net profit for the six months ended June 30, 2022, was HKD 5,074,000, a decline of 78.3% compared to HKD 23,385,000 in 2021[5] - Total comprehensive income for the period was HKD 6,379,000, down 75.5% from HKD 26,006,000 in the previous year[5] - Basic and diluted earnings per share for the period were HKD 0.91, compared to HKD 2.87 in 2021, reflecting a decrease of 68.3%[5] - The company reported a significant decrease in other income, which fell to HKD 621,000 from HKD 7,448,000 in the previous year, a decline of 91.7%[3] - The group reported a net profit of MYR 5.1 million for the period, a decrease of MYR 18.3 million or 78.2% compared to the same period in 2021, primarily due to reduced contributions from the production department and losses from the retail sector[125] Assets and Liabilities - Non-current assets as of June 30, 2022, totaled HKD 39,803,000, an increase from HKD 36,565,000 as of December 31, 2021[8] - Current assets amounted to HKD 100,254,000, compared to HKD 98,221,000 at the end of 2021, indicating a slight increase[8] - Total liabilities decreased to HKD 20,601,000 from HKD 22,957,000 at the end of 2021, showing a reduction of 10.4%[11] - The company's equity increased to HKD 105,631,000 as of June 30, 2022, up from HKD 99,252,000 at the end of 2021[11] - Trade receivables amounted to 25,406 thousand MYR as of June 30, 2022, with a provision for impairment loss of 2,971 thousand MYR[83] - The company’s bank borrowings as of June 30, 2022, totaled 8,979 thousand MYR, a slight decrease from 9,186 thousand MYR as of December 31, 2021[92] Cash Flow - The net cash used in operating activities was (2,585) thousand MYR for the six months ended June 30, 2022, compared to a net cash inflow of 5,645 thousand MYR in the prior year[29] - The company experienced a net cash outflow from investing activities of (6,907) thousand MYR, which is significantly higher than (2,828) thousand MYR in the previous year[29] - The financing activities generated a net cash inflow of 1,198 thousand MYR, contrasting with a net cash outflow of (3,282) thousand MYR in the same period last year[29] - The cash and cash equivalents at the end of the period were 19,888 thousand MYR, a decrease from 27,832 thousand MYR at the beginning of the period[29] - Net cash available as of June 30, 2022, was approximately MYR 19.9 million, a decrease from MYR 27.8 million as of December 31, 2021[127] Revenue Breakdown - The company reported a total revenue of 99,252 thousand MYR for the six months ended June 30, 2022, compared to 30,255 thousand MYR in the same period of the previous year, representing an increase of 227%[26] - Revenue from the production segment for the six months ended June 30, 2022, was approximately 57.7 million MYR, down 5.4% from 61.0 million MYR in the same period of 2021[105] - Revenue from elastic textiles for the period was approximately MYR 18.9 million, an increase of MYR 4.0 million or 26.8% compared to the same period in 2021, primarily due to increased sales from customers in the Asia-Pacific and North America regions[106] - Revenue from webbing for the period was approximately MYR 24.1 million, a decrease of MYR 3.9 million or 13.9% compared to the same period in 2021, mainly due to reduced sales of furniture webbing products from the Asia-Pacific and North America regions[109] - Revenue from other products for the period was approximately MYR 14.7 million, a decrease of MYR 3.4 million or 18.8% compared to the same period in 2021, primarily due to reduced revenue from polyvinyl chloride-related products and adhesive tape products[110] Operational Insights - The company has two reportable segments: Production and Retail, focusing on manufacturing and selling elastic textiles and related products[39] - The company employed 520 staff as of June 30, 2022, with employee costs around MYR 13.9 million, compared to approximately MYR 14.4 million in the previous year[139] - The company recorded a loss from the sale of subsidiaries amounting to 4,975 thousand MYR, impacting overall profitability[62] - The company’s depreciation and amortization expenses totaled 1,017 thousand MYR for the period, reflecting ongoing investment in asset maintenance[47] Future Outlook and Strategy - The company plans to focus on its existing business and conserve resources amid global economic uncertainties, including the sale of its newly developed securities brokerage business for HKD 8.5 million (approximately MYR 4.5 million)[148] - Future economic outlook indicates a contraction in the global economy in the second half of the year due to tightening financial conditions and geopolitical tensions[166] - Supply chain disruptions and rising material costs remain significant challenges for manufacturing operations, impacting competitiveness[166] - The company is reassessing market demand and pricing strategies to adjust its cost structure amid global economic uncertainties[166] Risk Management - The company has established a risk management committee to monitor and assess international sanction risks, consisting of two independent non-executive directors and one executive director[169] - During the reporting period, the risk management committee did not identify any sanction risks faced by the company[170] - The company faces foreign exchange risk primarily from USD revenues, with measures in place to hedge against potential currency fluctuations[143] Shareholder Information - The company did not recommend any dividend payment for the period, consistent with the previous year[71] - The company did not declare any interim dividends for the period, consistent with the previous year where no dividends were declared[132] - As of June 30, 2022, the company had 560 million shares issued, with the percentage of shareholdings calculated based on this figure[189]

Financial Performance - The group's revenue for the three months ended March 31, 2022, was 30,083 thousand MYR, a decrease of 39% compared to 49,315 thousand MYR in the same period of 2021[3] - Gross profit for the same period was 8,223 thousand MYR, down 69% from 26,289 thousand MYR year-on-year[3] - The net profit for the period was 2,911 thousand MYR, a decline of 69% compared to 9,435 thousand MYR in the previous year[4] - The total comprehensive income for the period was 3,295 thousand MYR, down 21% from 4,178 thousand MYR in the same quarter of 2021[4] - Operating profit for the group was 2,262 thousand MYR, down from 6,457 thousand MYR in the previous year, reflecting a decrease of about 65%[18] - The company reported a net profit attributable to shareholders of 2,911 thousand MYR for the quarter, compared to 6,456 thousand MYR in the same quarter of the previous year, marking a decline of approximately 55%[24] - The company reported a net profit of approximately 1.3 million MYR for the period, compared to zero in the same period of 2021[60] - The profit for the period was RM 2.9 million, a decrease of RM 6.5 million compared to RM 9.4 million in the same period last year[64] Revenue Breakdown - The production segment generated revenue of 30,019 thousand MYR, while the retail segment reported no revenue, indicating a shift in focus towards manufacturing[18] - Revenue from the Asia-Pacific region was 21,449 thousand MYR, a significant drop from 41,260 thousand MYR in the prior year, indicating a decrease of around 48%[28] - Major customers contributed significantly to revenue, with Customer A generating 4,221 thousand MYR and Customer B contributing 3,395 thousand MYR during the reporting period[29] - The production segment's revenue contribution was approximately 32.1% from elastic textiles, 44.1% from webbing, and 23.8% from other products[47] - Domestic sales accounted for approximately 38.6% of the production segment's total revenue, while export sales accounted for 61.4%[47] - The company experienced a significant decrease in revenue from the securities brokerage business, which contributed 16.0 million MYR in the previous year but zero in the current period[54] Expenses and Costs - The group incurred administrative expenses of 4,749 thousand MYR, a decrease of 36% from 7,377 thousand MYR year-on-year[3] - The company incurred financing costs of 119 thousand MYR, which impacted overall profitability[18] - Sales and distribution costs for the period were RM 1.3 million, a decrease of RM 2.6 million or 66.7% compared to RM 3.9 million in the same period last year[62] - Administrative expenses amounted to RM 4.7 million, down RM 2.7 million or 36.5% from RM 7.4 million in the previous year, primarily due to the sale of the securities brokerage business[63] - The sales cost for the period was approximately 21.9 million MYR, a decrease of 1.1 million MYR or 4.8% compared to 23.0 million MYR in 2021[56] Strategic Focus and Future Outlook - The group is focused on expanding its market presence and developing new products to enhance revenue streams in the future[9] - The company has established a risk management committee to monitor and assess international sanctions risks[71] - The company is investing in new technology development, allocating 50 million for R&D in the upcoming fiscal year[107] - Market expansion plans include entering two new countries, which are projected to increase market share by 5%[107] - The company is considering strategic acquisitions to enhance its product portfolio, with a budget of 100 million earmarked for potential deals[107] - A new marketing strategy is being implemented, aiming to increase brand awareness by 30% over the next six months[107] - The company provided a positive outlook for the next quarter, projecting a revenue growth of 10% to 1.32 billion[107] Corporate Governance and Compliance - The company has adhered to corporate governance codes during the reporting period[75] - The company has established an audit committee to oversee financial reporting and internal controls, consisting of three independent non-executive directors[104] - The audit committee reviewed the unaudited consolidated performance for the period and found it compliant with applicable accounting standards and regulations[106] - The company has not reported any significant impact from the adoption of new accounting standards on its financial statements[13] - The company has not engaged in any business activities in sanctioned countries during the period[69] - The company has not identified any conflicts of interest or competition from its directors or controlling shareholders during the reporting period[83] Shareholder Information - PRG Holdings holds a significant stake of 54.19% in the company, amounting to 303,468,000 shares[97] - The company has a total of 560,000,000 shares issued as of March 31, 2022, which is the basis for calculating ownership percentages[86] - The beneficial owner Lua Choon Hann holds 260,000 shares, representing 0.04% of the company[82] - The company’s major shareholder, Jan Ka Yau, owns 55,024,000 shares, which is 9.82% of the total shares[97] - The controlling shareholder confirmed compliance with non-competition agreements during the reporting period[79] Market Conditions - The global economy remains uncertain, with supply chain disruptions and rising raw material costs potentially increasing market volatility[68]

Financial Performance - The company's revenue increased to MYR 132.9 million, a 33.8% increase compared to the previous year[12]. - The pre-tax profit was MYR 7.5 million, indicating a return to profitability as demand and production capacity utilization improved[12]. - The group's revenue for the fiscal year was approximately 132.9 million MYR, an increase of about 33.6 million MYR or 33.8% compared to the previous year[30]. - Revenue from the production segment was approximately 115.9 million MYR, an increase of about 20.2 million MYR or 21.1% compared to the previous year[30]. - The group's gross profit was approximately 46.2 million MYR, an increase of about 17.0 million MYR or 58.2% compared to the previous year[33]. - The profit for the fiscal year was 5.2 million MYR, a significant recovery from a loss of 32.2 million MYR in 2020, primarily driven by a profit of 99 million MYR from the securities brokerage business[40]. - The company reported a total revenue of 69.0 million MYR as of December 31, 2021, an increase from 65.4 million MYR in 2020[177]. Revenue Breakdown - The revenue from elastic textiles, webbing, and other products accounted for approximately 24.4%, 40.6%, and 35.0% of total production revenue, respectively[30]. - The revenue from webbing increased to approximately 47.1 million MYR, a rise of about 10.2 million MYR or 27.6% compared to the previous year[23]. - The revenue from other products was approximately 40.5 million MYR, an increase of about 9.3 million MYR or 29.8% compared to the previous year[26]. - The retail segment's revenue was approximately 1.8 million MYR, a decrease of about 1.1 million MYR or 37.9% due to the closure of the Singapore retail store[28]. Operational Challenges and Risks - A provision for impairment loss of MYR 18.3 million was made for production units in China due to strict zero-COVID policies[12]. - The board remains cautious about the operational environment, acknowledging ongoing risks from COVID-19 and geopolitical tensions[16]. - The company faces foreign exchange risk due to its USD revenue from international business, and it may consider hedging measures if a depreciation of USD against MYR and VND is anticipated[60]. - The global economic situation and geopolitical risks significantly impact the company’s operations, particularly in sectors such as apparel, food packaging, and automotive[195]. Strategic Initiatives - The board decided to terminate the franchise business with Philip Plein to reduce further capital outflow[13]. - The company acquired a 37.25% stake in Energy Solution Global Limited, aiming to enter the green economy sector[13]. - The company is exploring new growth areas, particularly in the green economy driven by global climate change efforts[13]. - The company plans to allocate approximately HKD 13.5 million (around MYR 7.3 million) from unutilized listing proceeds for the acquisition of 100% of the issued shares of Xiniu Securities Co., Ltd. for a cash consideration of HKD 8.5 million (approximately MYR 4.5 million)[62]. - The company is considering strategic acquisitions to enhance its product offerings, with a budget of $100 million for potential deals[148]. Financial Management and Investments - The company's financial management is overseen by the Chief Financial Officer, who has over 15 years of experience in financial management and auditing[154][158]. - The company has invested approximately MYR 10.3 million (equivalent to HKD 18.9 million) in expanding production capacity by purchasing new machinery for elastic webbing and related products[66]. - The company allocated MYR 1.1 million for upgrading IT systems, with an actual usage of MYR 1.0 million by December 31, 2021[74]. - The company has a remaining unutilized amount of MYR 1.9 million as of December 31, 2021, which is expected to be used by 2022[74]. Corporate Governance and Compliance - The group has a compliance officer and risk management committee member appointed on November 6, 2019[105]. - The group emphasizes compliance with internal policies and legal regulations in its operations in Malaysia and Vietnam[99]. - The company has adopted a share option scheme on September 20, 2017, aimed at incentivizing selected participants for their contributions to the group[178]. Future Outlook - The global economic outlook for 2022 is expected to recover rapidly, but the ongoing Russia-Ukraine crisis poses significant risks to supply chains and may accelerate cost pressures[80]. - The company plans to continue monitoring the business environment closely and adjust its expansion plans as necessary due to uncertainties caused by the COVID-19 pandemic and geopolitical tensions[80]. - The management team emphasized the importance of sustainability initiatives, committing to reduce carbon emissions by 30% over the next five years[151].

Financial Performance - Revenue for the nine months ended September 30, 2021, was HKD 101,508,000, an increase of 43% compared to HKD 71,060,000 for the same period in 2020[3] - Gross profit for the nine months ended September 30, 2021, was HKD 40,252,000, up 79% from HKD 22,440,000 in the previous year[3] - The net profit for the nine months ended September 30, 2021, was HKD 24,296,000, compared to HKD 3,758,000 for the same period in 2020, representing a significant increase[3] - The company reported a basic earnings per share of HKD 3.04 for the nine months ended September 30, 2021, compared to HKD 0.67 in the previous year[7] - The total comprehensive income for the nine months ended September 30, 2021, was HKD 27,917,000, compared to HKD 4,924,000 for the same period in 2020[7] - The company recorded other income of HKD 7,726,000 for the nine months ended September 30, 2021, compared to HKD 3,532,000 in the previous year[3] - Administrative expenses for the nine months ended September 30, 2021, were HKD 16,273,000, an increase from HKD 13,682,000 in the same period of 2020[3] - The company reported a financing cost of HKD 925,000 for the nine months ended September 30, 2021, down from HKD 1,510,000 in the previous year[3] Revenue Segmentation - For the nine months ended September 30, 2021, total revenue from external customers was 101,508 thousand MYR, an increase from 71,060 thousand MYR for the same period in 2020, representing a growth of approximately 42.5%[23][26] - The production segment generated revenue of 83,519 thousand MYR, while the retail segment contributed 1,807 thousand MYR, indicating a significant reliance on the production segment for overall revenue[23] - Operating profit before tax for the group was 25,343 thousand MYR, with the production segment contributing 10,003 thousand MYR and the retail segment contributing 9,978 thousand MYR[23] - The group’s revenue from the Asia-Pacific region for the nine months ended September 30, 2021, was 80,094 thousand MYR, accounting for the majority of total revenue[31] - The group has two reportable segments: production and retail, with the production segment being the primary revenue driver[20][23] Profitability and Margins - The group reported a net profit of 24,296 thousand MYR for the nine months ended September 30, 2021, compared to a net profit of 3,758 thousand MYR for the same period in 2020, marking a substantial increase[23][26] - The group’s financing costs totaled 925 thousand MYR, with the production segment incurring 412 thousand MYR and the retail segment 507 thousand MYR[23] - Gross profit was approximately 40.3 million MYR, an increase of 17.9 million MYR or 79.9% compared to the same period in 2020, with gross margin improving from 31.5% to 39.7%[68] - The group recorded a profit of approximately 24.3 million MYR, an increase of about 20.5 million MYR compared to the same period in 2020, primarily due to improved gross profit and one-time gains from lease terminations[72] Market and Operational Challenges - The company plans to continue expanding its market presence and investing in new product development to drive future growth[3] - The company faces significant challenges due to the resurgence of COVID-19 in Malaysia and Vietnam, leading to lockdowns and operational disruptions from June to October 2021[75] - The company opened a retail store in Singapore, but retail revenue decreased to approximately 1.8 million MYR, a decline of 0.3 million MYR or 14.3% compared to the same period in 2020, due to the impact of COVID-19[62] Shareholder and Governance - The company did not declare any dividends for the period, consistent with the previous year[50][51] - There were no significant arrangements or contracts with the controlling shareholder during the reporting period, indicating a lack of conflicts of interest[83] - The controlling shareholder has committed to non-competition agreements, ensuring no competitive activities in Malaysia and Vietnam during the specified period[86] - The audit committee, consisting of three independent non-executive directors, has reviewed the group's unaudited financial performance for the period[118] - The company has confirmed compliance with applicable accounting standards and GEM listing rules in its financial reporting[118] Acquisitions and Investments - The company completed the sale of Furnitech Components (Vietnam) Co., Ltd. in June 2021, which was involved in the sale of furniture metal parts[57] - The company entered into an agreement to acquire 37.25% of the issued share capital of Energy Solution Global Limited for a total consideration of approximately 5.14 million MYR[74] - The company has expanded its manufacturing and sales of PVC-related products through acquisitions in 2019[57] - The company reported a total of 7,932,000 MYR in revenue from PVC-related products for the year[36] Foreign Exchange and Other Financials - The company experienced a foreign exchange loss of 379,000 MYR for the three months ended September 30, 2021[40] - Basic earnings per share for the nine months ended September 30, 2021, was 30.36 MYR, compared to 6.70 MYR for the same period in 2020[54] - The company has a total of 560,000,000 shares issued as of September 30, 2021[115] - PRG Holdings holds 54.19% of the company's shares, totaling 303,468,000 shares[111] - The second largest shareholder, Zhan Jiawen, owns 55,024,000 shares, representing 9.82% of the total[111]