Financial Performance - Revenue for Q1 2023 was HKD 147,141,000, a decrease of 5.3% compared to HKD 155,282,000 in Q1 2022[6] - Gross profit increased to HKD 53,471,000, up 21.4% from HKD 44,059,000 in the same period last year[6] - Profit attributable to owners of the company for Q1 2023 was HKD 19,787,000, representing a 9.8% increase from HKD 18,017,000 in Q1 2022[6] - Basic and diluted earnings per share for Q1 2023 were HKD 1.8, compared to HKD 1.64 in Q1 2022, reflecting a growth of 9.8%[6] - Total comprehensive income for Q1 2023 was HKD 19,824,000, compared to HKD 17,917,000 in Q1 2022, indicating a growth of 10.1%[6] - The gross profit for the same period was approximately HKD 53.5 million, an increase of about HKD 9.4 million or 21.3% from HKD 44.1 million in 2022, with a gross margin rising to approximately 36.3% from 28.4%[46] - The net profit for the three months ended March 31, 2023, was approximately HKD 19.8 million, an increase of about HKD 1.8 million or 10.0% compared to HKD 18.0 million in the same period of 2022[51] Expenses - Administrative expenses rose to HKD 21,023,000, an increase of 53.3% from HKD 13,713,000 in Q1 2022[6] - Employee benefits expenses totaled HKD 14,920,000, a decrease of 14.0% from HKD 17,360,000 in the previous year[34] - Sales and distribution expenses decreased to approximately HKD 5.4 million, a reduction of about HKD 1.1 million or 16.9% from HKD 6.5 million in 2022[48] - Income tax expense for the first quarter was HKD 4,472,000, up 15.6% from HKD 3,869,000 in the same period last year[32] - Financing costs rose to HKD 2,128,000, an increase of 67.0% from HKD 1,274,000 in the first quarter of 2022[30] Revenue Sources - Total revenue for the first quarter of 2023 was HKD 147,141,000, a decrease of 5.3% compared to HKD 155,282,000 in the same period of 2022[16] - Sales of scented candles decreased to HKD 110,228,000, down 6.6% from HKD 118,206,000 year-over-year[16] - Revenue from the US market increased to HKD 142,331,000, up 14.1% from HKD 124,730,000 in the previous year[24] - Other income for the first quarter was HKD 671,000, compared to HKD 348,000 in the same period last year, representing an increase of 92.5%[26] Corporate Governance - The company has complied with the corporate governance code as per GEM listing rules as of March 31, 2023[73] - The audit committee, consisting of three independent non-executive directors, has reviewed the unaudited consolidated results for the three months ended March 31, 2023, and confirmed compliance with applicable accounting standards and GEM listing rules[74] - The company is committed to high levels of corporate governance to protect shareholder interests and enhance corporate value[73] - The company has not identified any violations of the prescribed trading standards by its directors as of March 31, 2023[71] Shareholder Information - As of March 31, 2023, the company has a significant shareholder, AVW International Limited, holding 643,500,000 shares, representing 58.5% of the issued shares[56] - The company has no arrangements that allow directors to acquire shares or debentures of the company or any other corporate body as of March 31, 2023[58] - There are no significant contracts in which directors or their close associates have a material interest as of March 31, 2023[59] - Other than the disclosed interests, there are no individuals or entities holding shares or related interests that require disclosure under the Securities and Futures Ordinance as of March 31, 2023[63] - The company has no additional disclosures regarding the interests of directors and senior management in shares or related interests as of March 31, 2023[57] - The company has no significant changes in the ownership structure of shares as of March 31, 2023[60] Share Option Scheme - The company has adopted a share option scheme on June 23, 2018, allowing the issuance of shares up to a maximum of 30% of the total issued shares[64] - The share option scheme restricts the total number of shares issued to any participant within a 12-month period to not exceed 1% of the issued shares[64] - The maximum number of shares that can be issued upon the exercise of all options granted under the share option plan and any other share option plans of the group shall not exceed 110,000,000 shares, representing 10% of the total number of shares issued as of July 19, 2018, and the report date[65] - The share option plan is effective for a period of 10 years starting from June 23, 2018, and will expire on June 23, 2028[67] - The exercise price for each option granted shall be determined by the board, but must be at least the higher of the closing price on the date of the offer, the average closing price for the five trading days preceding the offer, or the par value of the shares[68] - The company seeks shareholder approval to update the 10% limit under the share option plan, excluding options that have lapsed[65] Business Operations - The company continues to focus on the manufacturing and sales of candle products, with plans for market expansion and new product development[8] - The company operates primarily in Hong Kong and Vietnam, focusing on sales to department stores and procurement agents in the US and UK markets[21] - The company has short-term contracts with external customers, with fixed pricing agreements[17] - The company has not made any significant investments, acquisitions, or disposals of subsidiaries or capital assets during the three months ended March 31, 2023[52] - The company has no new strategies or market expansions reported in the current quarter[62] - There are no new product developments or technological advancements mentioned in the report[62] Other Financial Information - The company reported a financing cost of HKD 2,128,000, which increased from HKD 1,274,000 in the previous year[6] - Other losses for the period were approximately HKD 1.3 million, an increase of about HKD 0.3 million or 30.0% from HKD 1.0 million in 2022[47] - Financing costs for the period were approximately HKD 2.1 million, an increase of about HKD 0.8 million or 61.5% from HKD 1.3 million in 2022[50] - The company did not declare or propose any dividends for the three months ended March 31, 2023[37] - No shares were purchased, sold, or redeemed by the company or any of its subsidiaries during the reporting period[72]

Hyfusin Group Holdings Limited 凱 富 善 集 團 控 股 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：8512） 截至2023年3月31日止三個月 之第一季度業績公告 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，同時亦無法保證在GEM買賣的證券會有 高流通量的市場。 香港交易及結算所有限公司及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 生或因依賴該等內容而引致的任何損失承擔任何責任。 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 提供有關凱富善集團控股有限公司（「本公司」）及其附屬公司（統稱「本集團」）的資 料；本公司董事（「董事」）願就本公告的資料共同 ...

Financial Performance - The group's revenue for the year ended December 31, 2022, was approximately HKD 684.9 million, with a net profit of about HKD 73.1 million[8]. - Revenue for the year ended December 31, 2022, was approximately HKD 684.9 million, a decrease of about HKD 130.2 million or 16.0% compared to HKD 815.1 million in 2021[17]. - Gross profit for the year ended December 31, 2022, was approximately HKD 207.7 million, down by about HKD 62.2 million or 23.0% from HKD 269.9 million in 2021, with a gross margin of approximately 30.3% compared to 33.1% in 2021[18]. - Net profit for the year ended December 31, 2022, was approximately HKD 73.1 million, a decrease of about HKD 33.1 million or 31.2% compared to HKD 106.2 million in 2021[26]. - Other income increased to approximately HKD 3.5 million, up by about HKD 1.7 million or 94.4% from HKD 1.8 million in 2021, primarily due to additional fees from order cancellations[19]. - The company did not recommend any dividend payment for the year ended December 31, 2022[27]. Operational Highlights - Sales of scented candles decreased by approximately HKD 92.7 million or 16.3% compared to the same period in 2021, reflecting a consistent trend in the U.S. market preference for scented and colored candles[10]. - The group has established long-term relationships with customers, which, combined with an experienced management team, positions the company for future business opportunities and growth[13]. - The group has been recognized as a "Business Partner Award Winner" for its contributions to customer development in the candle product category[13]. - The company aims to provide mid-to-high-end candle products in overseas markets, primarily targeting the U.S. and U.K. markets[10]. - The group has entered into contracts with sales representatives to incentivize them for customer orders, anticipating potential future orders[11]. - The company remains optimistic about future growth despite a challenging business environment and plans to invest more resources in product development[45]. COVID-19 Impact and Response - The company has implemented effective management of raw material supply to ensure stable production amid the COVID-19 pandemic[15]. - The group has been proactive in enhancing protective measures against COVID-19 to ensure smooth production operations[15]. - The company continues to monitor the impact of COVID-19 on its operations to ensure employee safety and stable operations[15]. - The group’s main business operations in Vietnam and Hong Kong have not been adversely affected by the pandemic[15]. Assets and Liabilities - Total assets as of December 31, 2022, were approximately HKD 501.3 million, an increase from HKD 483.0 million in 2021, with total liabilities of approximately HKD 98.0 million[29]. - The current ratio as of December 31, 2022, was approximately 5.1 times, up from 2.7 times in 2021, mainly due to an increase in cash and cash equivalents and inventory[29]. - Financing costs for the year ended December 31, 2022, were approximately HKD 8.8 million, an increase of about HKD 3.9 million or 79.6% from HKD 4.9 million in 2021[23]. - The debt-to-equity ratio decreased from approximately 20.0% as of December 31, 2021, to about 13.4% as of December 31, 2022, primarily due to a reduction in bank borrowings[29]. Corporate Governance - The company emphasizes the importance of good corporate governance and has adhered to applicable codes during the reporting period[59]. - The board consists of two executive directors and three independent non-executive directors, ensuring a balanced composition[62]. - Independent non-executive directors account for at least one-third of the board at all times during the relevant period[62]. - The company complies with GEM listing rules regarding the appointment of independent non-executive directors, with at least one possessing appropriate accounting qualifications[63]. - The board has established mechanisms to ensure independent opinions are communicated, enhancing decision-making objectivity[67]. - The nomination committee reviews the governance framework annually to ensure its effectiveness[68]. - The company has implemented a diversity policy for board appointments, considering factors such as gender, age, and professional experience[70]. - Each director is required to retire and seek re-election at least once every three years[65]. - The board provides monthly updates to ensure informed decision-making regarding the company's performance and outlook[60]. - The company has a legal liability insurance plan for directors, reviewed annually for adequacy[65]. Shareholder Communication - The board has established a shareholder communication policy to ensure transparent and timely communication with shareholders[107]. - The company encourages shareholders to attend annual general meetings for direct communication with the board[108]. - The board has reviewed the implementation of the shareholder communication policy and confirmed its effectiveness during the review period[110]. - The company has a dedicated email for stakeholders to report any illegal or fraudulent activities, ensuring confidentiality and protection for whistleblowers[104]. - The company has a zero-tolerance policy towards corruption and continuously enhances its internal monitoring and oversight systems[104]. Management and Board Composition - The company appointed Ms. Liang Ruibing as the company secretary effective December 1, 2021, with a background in listing services management[114]. - Mr. Huang Weijie, the chairman and executive director, has over 20 years of experience in candle manufacturing and oversees the overall strategic planning of the group[117]. - Mr. Huang Wenchie, the CEO and executive director, is responsible for the group's business operations and overall sales and marketing strategies[118]. - The company has a strong governance structure with independent directors providing oversight and independent judgment on strategic and performance issues[120][123]. - The board includes members with diverse backgrounds and expertise, enhancing the company's decision-making capabilities[120][123]. Environmental and Social Responsibility - The group has committed to enhancing environmental protection and minimizing operational impact, focusing on clean operating methods and resource efficiency[156]. - An independent ESG report is expected to be published simultaneously with the annual report on the stock exchange and the company's website[157]. - The group views employees as valuable assets and adheres to labor laws, providing good benefits and ongoing professional training[159]. Future Plans and Developments - The company plans to upgrade existing production facilities and expects to complete renovations in 2023[50]. - The company has paid approximately 9.2 million HKD for new machinery to meet anticipated customer orders[53]. - The company has installed an Enterprise Resource Planning (ERP) system, with approximately 1.2 million HKD paid as a deposit and related expenses[54]. Shareholder Structure - As of December 31, 2022, Mr. Wong Wai Kit and Mr. Wong Man Kit each hold 643,500,000 shares, representing 58.5% of the issued shares through AVW International Limited[181]. - AVW International Limited is equally owned by Mr. Wong Wai Kit and Mr. Wong Man Kit, each holding 50%[182]. - Other major shareholders include Wah Yat Si Enterprises Limited and Wah Yat Si Management Limited, each holding 181,500,000 shares, which is approximately 16.5% of the issued shares[184]. Stock Option Plan - The company has adopted a share option scheme on June 23, 2018, allowing the issuance of shares up to 30% of the total issued shares for eligible participants[188]. - The stock option plan allows for a maximum of 110,000,000 shares to be issued upon exercise, representing 10% of the total shares issued as of the listing date and the date of the annual report[190]. - The stock option plan is effective for a period of 10 years from June 23, 2018, and will expire on June 23, 2028, with approximately 5 years remaining[190]. - The exercise price for each share under the stock option plan must be at least the higher of the closing price on the day of the offer or the average closing price over the preceding five trading days[191]. Miscellaneous - The group faced significant risks and uncertainties, which are detailed in the annual report[136]. - The company was registered as an exempted company in the Cayman Islands on July 5, 2017, and completed a group reorganization on September 13, 2017, in preparation for its listing[134]. - The group primarily engages in the manufacturing and sale of candle products, with its headquarters located in Hong Kong and operations in Vietnam[135]. - The financial summary of the group's performance, assets, and liabilities for the past fiscal year is detailed on page 122 of the annual report[141]. - The board aims to create sustainable returns for shareholders while retaining sufficient reserves for future development[140]. - The group has complied with all relevant laws and regulations in Hong Kong and Vietnam, with no significant violations reported for the year ended December 31, 2022[158]. - There were no significant related party transactions during the year ended December 31, 2022, as per the board's knowledge[175]. - The company has maintained appropriate directors' and senior officers' liability insurance, which is currently in effect[177]. - The controlling shareholders have complied with non-competition commitments during the year ended December 31, 2022[179]. - The annual general meeting is scheduled for June 9, 2023, with a notice to be sent to shareholders in due course[195]. - There have been no significant events affecting the group after the reporting period up to the date of the annual report[196]. - The auditor for the financial statements for the years ended December 31, 2022, and 2021, is to be reappointed at the upcoming annual general meeting[197]. - Share transfer registration will be suspended from June 1, 2023, to June 9, 2023, to determine the eligibility of shareholders to attend and vote at the annual general meeting[198]. - The company has not experienced any changes in auditors over the past three years[197].

Hyfusin Group Holdings Limited 凱 富 善 集 團 控 股 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：8512） 截至2022年12月31日止年度的 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，同時亦無法保證在GEM買賣的證券會有 高流通量的市場。 香港交易及結算所有限公司及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。 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 提供有關凱富善集團控股有限公司（「本公司」）及其附屬公司（統稱「本集團」）的資 料；本公司董事（「董事」）願就本公告的資料共同及個 ...

Financial Performance - For the nine months ended September 30, 2022, the company reported revenue of HKD 523,918,000, a decrease of 10.9% compared to HKD 588,553,000 for the same period in 2021[7] - Gross profit for the same period was HKD 149,037,000, down 23.1% from HKD 193,908,000 in 2021[7] - The net profit attributable to the owners of the company for the nine months was HKD 53,095,000, a decline of 30.4% from HKD 76,252,000 in the previous year[7] - Basic and diluted earnings per share for the nine months were HKD 4.83, compared to HKD 6.93 in 2021, reflecting a decrease of 30.4%[7] - The company reported a total comprehensive income of HKD 52,944,000 for the nine months, down from HKD 76,240,000 in the same period last year[7] - The company experienced a gross margin of 28.5% for the nine months, compared to 32.8% in the previous year, indicating a decline in profitability[7] - Total revenue for the nine months ended September 30, 2022, was HKD 523,918,000, a decrease from HKD 588,553,000 for the same period in 2021, representing a decline of approximately 11%[27] - Revenue from the United States for the nine months ended September 30, 2022, was HKD 455,415,000, down from HKD 532,484,000 in 2021, indicating a decrease of about 14.5%[27] - Revenue from the United Kingdom for the nine months ended September 30, 2022, increased to HKD 64,096,000 from HKD 49,023,000 in 2021, reflecting a growth of approximately 30.7%[27] - For the nine months ended September 30, 2022, the company's profit before tax was HKD 12,259,000, compared to HKD 16,819,000 for the same period in 2021, representing a decrease of approximately 27.0%[37] - The company's total employee costs for the nine months ended September 30, 2022, amounted to HKD 49,437,000, down from HKD 69,876,000 in the same period of 2021, reflecting a reduction of about 29.3%[37] - The sales of scented candles decreased by approximately HKD 30.3 million or 7.6% compared to the same period in 2021, indicating a decline in demand despite the ongoing preference for scented and colored candles in the U.S. market[44] - The company’s total tax expense for the nine months ended September 30, 2022, was HKD 12,259,000, compared to HKD 16,819,000 in the same period of 2021, indicating a reduction of about 27.0%[37] Income and Expenses - Other income for the nine months was HKD 2,550,000, compared to HKD 1,159,000 in the same period of 2021, showing an increase of 119.8%[7] - The company incurred administrative expenses of HKD 60,984,000 for the nine months, a decrease of 12.1% from HKD 69,413,000 in 2021[7] - Financing costs for the nine months ended September 30, 2022, totaled HKD 5,222,000, an increase from HKD 3,565,000 in 2021, representing a rise of approximately 46.5%[32] - Selling and distribution expenses for the nine months ended September 30, 2022, were approximately HKD 19.7 million, a decrease of about HKD 7.1 million or 26.5% from HKD 26.8 million in the same period of 2021[50] - Administrative expenses for the nine months ended September 30, 2022, were approximately HKD 61.0 million, a decrease of about HKD 8.4 million or 12.1% from HKD 69.4 million in the same period of 2021[51] - Financing costs for the nine months ended September 30, 2022, were approximately HKD 5.2 million, an increase of about HKD 1.6 million or 44.4% from HKD 3.6 million in the same period of 2021[52] Market Strategy and Operations - The company is focused on expanding its market presence and enhancing product offerings, although specific new products or technologies were not detailed in the report[9] - The company continues to monitor market conditions and adjust its strategies accordingly to improve financial performance in the future[9] - The company continues to focus on providing mid to high-end candle products in overseas markets, particularly in the U.S. and U.K., where there is a growing demand for scented candles[43] - The company has established contracts with sales representatives since 2018 to incentivize them with sales rewards for customer orders, aiming to capture rapid growth in the candle product market, particularly in the U.S.[44] Corporate Governance and Compliance - The company has adopted the GEM Listing Rules regarding the trading standards for directors, confirming compliance with these standards for the nine months ended September 30, 2022[78] - The company has adhered to the corporate governance code as outlined in the GEM Listing Rules for the nine months ended September 30, 2022[80] - An audit committee has been established in accordance with GEM Listing Rules and corporate governance code, consisting of three independent non-executive directors[82] - The audit committee reviewed the unaudited consolidated results for the nine months ended September 30, 2022, confirming compliance with applicable accounting standards and sufficient disclosure[82] Shareholder Information - As of September 30, 2022, AVW holds 643,500,000 shares, representing 58.5% of the issued shares[67] - Huayi Si Enterprise Limited and its controlled entities collectively hold 181,500,000 shares, accounting for 16.5% of the issued shares[67] - The company has adopted a share option scheme effective from June 23, 2018, allowing for the issuance of options up to 30% of the total issued shares[71] - The maximum number of shares that can be issued upon the exercise of all options granted under the scheme is capped at 110,000,000 shares, equivalent to 10% of the total issued shares as of the report date[72] - No directors or major shareholders have any interests in businesses that directly or indirectly compete with the company as of September 30, 2022[76] - The company has no disclosures of interests or short positions in shares or related securities by any person or corporation, excluding directors and senior management, as of September 30, 2022[70] - The exercise price for each option granted must be at least the higher of the closing price on the date of grant or the average closing price over the preceding five trading days[74] - The share option scheme is set to expire on June 23, 2028, unless terminated earlier by the company[74] - No shares of the company were purchased, sold, or redeemed by the company or its subsidiaries during the nine months ended September 30, 2022, and up to the report date[79] Other Information - The company is currently evaluating the impact of new or revised Hong Kong Financial Reporting Standards, which are expected to be adopted starting January 1, 2023[16] - The company has not disclosed any new product or technology developments in the current report[68] - There are no updates on market expansion or mergers and acquisitions in the current report[68] - The company did not declare or propose any dividends for the nine months ended September 30, 2022, consistent with the previous year[41] - The deferred tax expense for the nine months ended September 30, 2022, was HKD 250,000, compared to a deferred tax benefit of HKD (156,000) in the same period of 2021[37] - Other losses for the nine months ended September 30, 2022, were approximately HKD 0.3 million, a decrease of about HKD 1.9 million or 86.4% compared to HKD 2.2 million in the same period of 2021[49]

Financial Performance - For the six months ended June 30, 2022, the company reported revenue of HKD 339,305 thousand, a slight increase from HKD 339,042 thousand in the same period of 2021[11]. - Gross profit for the same period was HKD 53,258 thousand, down from HKD 67,699 thousand in 2021, indicating a decrease of approximately 21.4%[11]. - The net profit attributable to the owners of the company for the six months ended June 30, 2022, was HKD 19,439 thousand, a decrease of 41.5% compared to HKD 33,330 thousand in 2021[11]. - The company reported a basic and diluted earnings per share of HKD 1.77 for the six months ended June 30, 2022, down from HKD 3.03 in the same period of 2021[11]. - The total income tax expense for the six months ended June 30, 2022, was HKD 4,459,000, down from HKD 7,047,000 in the same period of 2021, representing a reduction of approximately 37%[7]. - The company's total employee costs for the six months ended June 30, 2022, were HKD 34,623,000, down 18% from HKD 42,336,000 in the same period of 2021[56]. - The company reported a decrease in the remuneration of directors and senior management, totaling HKD 12,439,000 for the six months ended June 30, 2022, compared to HKD 16,281,000 in the same period of 2021[58]. - Net profit for the six months ended June 30, 2022, was approximately HKD 37.5 million, a decrease of approximately HKD 13.9 million or 27.0% compared to the same period in 2021[96]. Assets and Liabilities - The total assets of the company as of June 30, 2022, amounted to HKD 519,283 thousand, an increase from HKD 482,983 thousand as of December 31, 2021[14]. - Current liabilities decreased to HKD 123,959 thousand from HKD 136,186 thousand, reflecting a reduction of approximately 9.0%[14]. - The company’s total non-current assets increased to HKD 140,432 thousand from HKD 116,185 thousand, indicating a growth of approximately 20.8%[14]. - Total non-current liabilities increased to HKD 27,589 million as of June 30, 2022, compared to HKD 16,340 million as of December 31, 2021, reflecting a growth of 68.5%[16]. - The company’s total liabilities decreased slightly to HKD 151,548 million as of June 30, 2022, from HKD 152,526 million as of December 31, 2021[16]. - Total assets increased to HKD 367,735 million as of June 30, 2022, up from HKD 330,457 million as of December 31, 2021, representing an increase of 11.3%[16]. Cash Flow - Net cash generated from operating activities for the six months ended June 30, 2022, was HKD 18,034 million, a significant increase from HKD 1,957 million for the same period in 2021[21]. - The company reported a net cash outflow from investing activities of HKD 32,992 million for the six months ended June 30, 2022, compared to HKD 18,101 million in the previous year[21]. - Financing activities generated a net cash inflow of HKD 16,232 million for the six months ended June 30, 2022, compared to HKD 4,733 million in the same period of 2021[21]. - Cash and cash equivalents increased to HKD 139,075 million as of June 30, 2022, compared to HKD 96,972 million as of June 30, 2021, marking a growth of 43.2%[21]. Market and Product Development - The company has plans for market expansion and new product development, although specific details were not disclosed in the report[11]. - The company continues to focus on improving operational efficiency and exploring strategic partnerships to enhance market presence[11]. - The company is focused on expanding its market presence and enhancing its product offerings, although specific new products or technologies were not detailed in the report[24]. - The company aims to capture the rapid growth of candle products, particularly in the U.S. market, by collaborating with sales representatives since 2018[86]. - Sales of scented candles, the group's best-selling product, increased by approximately HKD 22.2 million or 9.7% compared to the same period in 2021[89]. Corporate Governance - The company has complied with the corporate governance code as per GEM Listing Rules, ensuring high standards to protect shareholder interests[138]. - The audit committee has been established in accordance with GEM Listing Rules and consists of three independent non-executive directors[140]. - The audit committee reviewed the unaudited consolidated performance for the six months ended June 30, 2022, and confirmed compliance with applicable accounting standards and legal requirements[140]. - The report for the six months ended June 30, 2022, has been reviewed by the audit committee[141]. - The board of directors includes the executive chairman and CEO, along with three independent non-executive directors[142]. Shareholder Information - As of June 30, 2022, the major shareholders included AVW International Limited, holding 58.5% of the issued shares[121]. - As of June 30, 2022, the company had a total of 1,100,000,000 shares issued, with major shareholders holding significant stakes: Ms. Zheng Xiaochun at 16.5% and Ms. Rong Minli at 58.5%[128]. - The company has adopted a share option scheme since June 23, 2018, allowing for the issuance of options up to a maximum of 30% of the total issued shares, subject to shareholder approval[131]. - The maximum number of shares that can be issued upon the exercise of all options granted under the share option scheme is capped at 110,000,000 shares, equivalent to 10% of the total issued shares as of the report date[132]. - No share options have been granted under the share option scheme since its adoption[133]. Operational Challenges - The company continues to face uncertainties in its operating environment due to the ongoing impact of the COVID-19 pandemic[87].

GT HO 02 球 #X HKH filter E N FAC AI TOR 31d March, 2022 Dong Nai Hyfusin Group Holdings Limited 凱富善集團招股有限公司 (於開量群島註冊成立之有限公司) 股份代號 : 8512 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，同時亦無法保證在GEM買賣的證券會有高流通量的市場。 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依賴該等內容而 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，旨在提供有關凱 富善集團控股有限公司（「本公司」）及其附屬公司（統稱「本集團」 ...

Financial Performance - The group's revenue for the year ended December 31, 2021, was approximately HKD 815.1 million, with a net profit of about HKD 106.2 million[12]. - For the year ended December 31, 2021, the group's revenue was approximately HKD 815.1 million, an increase of about HKD 259.2 million or 46.6% compared to HKD 555.9 million in the same period of 2020[23]. - The gross profit for the year ended December 31, 2021, was approximately HKD 269.9 million, an increase of about HKD 63.3 million or 30.6% from HKD 206.6 million in 2020[24]. - The net profit for the year ended December 31, 2021, was approximately HKD 106.2 million, an increase of about HKD 15.8 million or 17.5% compared to HKD 90.4 million in 2020[33]. - The gross profit margin decreased to approximately 33.1% for the year ended December 31, 2021, down from 37.2% in 2020, primarily due to a 37.0% increase in wax costs[25][26]. - The total assets as of December 31, 2021, were approximately HKD 483.0 million, an increase from HKD 353.7 million in 2020[37]. - The total borrowings as of December 31, 2021, amounted to approximately HKD 62.6 million, up from HKD 29.7 million in 2020[37]. - The current ratio as of December 31, 2021, was approximately 2.7 times, compared to 2.4 times as of December 31, 2020[37]. Sales and Market Trends - Sales of scented candles increased by approximately HKD 230.2 million or 67.8% compared to the same period in 2020, reflecting a growing preference in the US market for scented and colored candles[14]. - Sales of daily-use candles also saw growth, increasing by approximately HKD 48.3 million or 49.2% compared to the same period in 2020[15]. - The company aims to provide mid-to-high-end candle products in overseas markets, primarily targeting the US and UK markets[14]. - The company has established contracts with sales representatives since 2018 to capture the rapid growth of candle products, particularly in the US market[15]. - The company is confident in its future business development due to the increasing demand for scented candles[14]. Operational and Administrative Expenses - The group incurred selling and distribution expenses of approximately HKD 37.1 million for the year ended December 31, 2021, an increase of about HKD 8.8 million or 31.1% from HKD 28.3 million in 2020[29]. - Administrative expenses for the year ended December 31, 2021, were approximately HKD 96.6 million, an increase of about HKD 31.5 million or 48.4% from HKD 65.1 million in 2020[30]. - Financing costs for the year ended December 31, 2021, were approximately HKD 4.9 million, an increase of about HKD 0.9 million or 22.5% from HKD 4.0 million in 2020[31]. Corporate Governance - The board consists of two executive directors and three independent non-executive directors, maintaining a balanced composition[71]. - The company has adopted a diversity policy for the board, considering factors such as gender, age, cultural background, and professional experience in director appointments[79]. - The nomination committee is responsible for reviewing the structure and composition of the board and assessing the independence of independent non-executive directors[79]. - The company has established a legal liability insurance plan for directors, which is reviewed at least annually to ensure adequate protection[77]. - The board is committed to maintaining high standards of corporate governance and compliance with increasingly complex regulatory requirements[69]. - The company has complied with all applicable provisions of the corporate governance code during the relevant period[70]. Shareholder Communication and Engagement - The board has established a shareholder communication policy to ensure timely access to public information, including financial reports[127]. - Shareholders holding at least 10% of the paid-up capital can request a special general meeting within two months of submission[129]. - Shareholders can send inquiries to the board in writing or via email for information regarding the company[130]. - The company encourages active participation from shareholders and investors through its website for the latest updates[127]. Risk Management and Internal Control - The board conducted a review of the effectiveness of the internal control and risk management systems for the year ended December 31, 2021, covering financial, operational, compliance procedures, and risk management functions[122]. - The company has not established an internal audit department as the board believes there is no immediate need, but will consider establishing one if necessary[122]. - The group engaged external professional consultants to conduct an independent internal control review for the year ended December 31, 2021[122]. - The board is committed to enhancing corporate governance standards and maintaining an effective internal control system to safeguard the group's assets and protect shareholder interests[123]. Environmental and Social Responsibility - The company is committed to enhancing environmental protection and minimizing its operational impact on the environment[180]. - The group made donations amounting to HKD 195,000 during the year, compared to HKD 147,000 in 2020[174]. - The company has complied with all relevant laws and regulations during the year ended December 31, 2021, with no significant violations reported[182]. Future Plans and Investments - The group plans to invest more resources in product development and implement proactive marketing strategies to address future challenges[54]. - The group completed the construction of a new production facility in Vietnam with a total construction cost of approximately VND 106.55 billion (approximately HKD 36.5 million) by December 31, 2021[51].

Financial Performance - Revenue for the nine months ended September 30, 2021, was HKD 588.6 million, an increase from HKD 325.1 million for the same period in 2020, representing an 80.9% growth[6] - Gross profit for the nine months ended September 30, 2021, was HKD 193.9 million, compared to HKD 116.1 million for the same period in 2020, reflecting a 66.8% increase[6] - Net profit attributable to owners for the nine months ended September 30, 2021, was HKD 76.3 million, up from HKD 50.9 million in the same period of 2020, marking a 50.0% increase[6] - Basic and diluted earnings per share for the nine months ended September 30, 2021, were HKD 6.93, compared to HKD 4.62 for the same period in 2020, indicating a 49.9% increase[6] - The company reported a total comprehensive income of HKD 76.2 million for the nine months ended September 30, 2021, compared to HKD 50.9 million for the same period in 2020[6] - The company experienced a significant increase in sales costs, which rose to HKD 394.6 million for the nine months ended September 30, 2021, from HKD 209.0 million in the same period of 2020[6] - Other income for the nine months ended September 30, 2021, was HKD 1.2 million, compared to HKD 1.0 million for the same period in 2020[6] - The company’s administrative expenses for the nine months ended September 30, 2021, were HKD 69.4 million, an increase from HKD 32.0 million in the same period of 2020[6] - The company incurred a tax expense of HKD 16,975 thousand for the nine months ended September 30, 2021, compared to HKD 11,031 thousand for the same period in 2020, representing a 53.1% increase[7] Revenue Breakdown - Revenue from candle products for the nine months ended September 30, 2021, was HKD 588,553,000, with significant contributions from daily candles (HKD 119,225,000) and scented candles (HKD 398,581,000)[17] - Revenue from the US market for the nine months ended September 30, 2021, reached HKD 532,484,000, up 84.4% from HKD 288,972,000 in the same period of 2020[27] - Revenue from the UK market for the nine months ended September 30, 2021, was HKD 49,023,000, an increase of 60% compared to HKD 30,654,000 in the same period of 2020[27] Costs and Expenses - The total employee costs for the nine months ended September 30, 2021, amounted to HKD 69,876 thousand, up from HKD 42,105 thousand in the same period of 2020, indicating a significant increase in workforce expenses[39] - The sales and distribution expenses increased by approximately HKD 8.5 million or 46.4% to about HKD 26.8 million, primarily due to increased freight and customs expenses[59] - Administrative expenses rose by approximately HKD 37.4 million or 116.9% to about HKD 69.4 million, mainly due to increased salaries and allowances[60] - Financing costs increased by approximately HKD 1.1 million or 44.0% to about HKD 3.6 million, attributed to higher bank borrowings[61] Market Strategy and Future Outlook - The company plans to continue expanding its market presence and investing in new product development to sustain growth[10] - The company’s management expressed confidence in future business development due to increasing consumer demand for scented candles[50] Shareholder Information - As of September 30, 2021, AVW International Limited holds 643,500,000 shares, representing 58.5% of the total issued shares[82] - Huayi Si Enterprise Limited and its controlled entities collectively hold 181,500,000 shares, accounting for 16.5% of the total issued shares[82] - The company did not declare or propose any dividends for the nine months ended September 30, 2021[46] - The company did not declare an interim dividend for the nine months ended September 30, 2021[69] Corporate Governance - The company has complied with the corporate governance code as per GEM listing rules during the nine months ending September 30, 2021[100] - The audit committee, consisting of three independent non-executive directors, has reviewed the unaudited consolidated results for the nine months ending September 30, 2021, ensuring compliance with applicable accounting standards[102] Other Information - The company has not adopted the new or revised Hong Kong Financial Reporting Standards that are expected to be effective from January 1, 2023, and believes they will not have a significant impact on the financial statements[14] - The company has not disclosed any new product developments or market expansion strategies in the provided documents[80] - There are no reported mergers or acquisitions during the nine months ending September 30, 2021[78] - The company has not indicated any future performance guidance or outlook in the provided documents[80]

Financial Performance - Revenue for the six months ended June 30, 2021, was HKD 339,042,000, an increase from HKD 148,307,000 in the same period of 2020, representing a growth of 128.5%[8] - Gross profit for the same period was HKD 115,241,000, compared to HKD 48,878,000 in 2020, reflecting a gross margin improvement[8] - The net profit attributable to the owners of the company for the six months ended June 30, 2021, was HKD 33,330,000, up from HKD 6,367,000 in 2020, indicating a significant increase of 424.5%[8] - Basic earnings per share for the period was HKD 3.03, compared to HKD 0.58 in the previous year, marking a substantial increase[8] - The company reported a total comprehensive income of HKD 51,368 million for the six months ended June 30, 2021, compared to HKD 146,153 million for the same period in 2020, indicating a decrease of 64.9%[14] - Net profit for the six months ended June 30, 2021, was approximately HKD 51.4 million, an increase of about HKD 39.1 million or 317.9% compared to HKD 12.3 million in 2020[81] Assets and Liabilities - Total assets as of June 30, 2021, amounted to HKD 446,010,000, up from HKD 353,742,000 as of December 31, 2020, showing a growth of 26.1%[10] - Current assets increased to HKD 369,396,000 from HKD 295,751,000, representing a rise of 25%[10] - Total liabilities increased to HKD 170,382 million as of June 30, 2021, compared to HKD 129,482 million as of December 31, 2020, representing a growth of 31.5%[11] - Net assets rose to HKD 275,628 million as of June 30, 2021, up from HKD 224,260 million at the end of 2020, indicating a 22.9% increase[11] - The company’s total non-current liabilities increased to HKD 13,857 million as of June 30, 2021, up from HKD 7,282 million at the end of 2020, representing an increase of 90.5%[11] Cash Flow - Cash generated from operating activities decreased to HKD 1,957 million for the six months ended June 30, 2021, down from HKD 7,405 million in the same period of 2020, reflecting a decline of 73.6%[16] - Net cash used in investing activities amounted to HKD 18,101 million for the first half of 2021, compared to HKD 1,738 million in the prior year, showing a significant increase in investment outflows[16] - Net cash generated from financing activities was HKD 4,733 million for the six months ended June 30, 2021, compared to HKD 988 million in the same period of 2020, marking a substantial increase[16] Market and Sales - Sales of scented candles reached HKD 227,955 thousand for the six months ended June 30, 2021, compared to HKD 78,166 thousand in the same period of 2020, marking an increase of 191.5%[24] - Revenue from the United States for the six months ended June 30, 2021, was HKD 323,404 thousand, up from HKD 135,164 thousand in the same period of 2020, reflecting a growth of 139.5%[32] - The company operates primarily in the United States and the United Kingdom, with significant revenue contributions from these regions[30] Expenses - The company reported a significant reduction in administrative expenses, decreasing from HKD 34,864,000 in 2020 to HKD 17,039,000 in 2021, a reduction of 51.1%[8] - The total employee benefits expenses (excluding directors' remuneration) for the six months ended June 30, 2021, amounted to HKD 24,082,000, up from HKD 11,110,000 in the same period of 2020, indicating a rise of approximately 116%[41] - Selling and distribution expenses for the period were approximately HKD 17.0 million, an increase of about HKD 6.5 million or 61.9% compared to HKD 10.5 million in 2020[76] - Administrative expenses for the period were approximately HKD 34.9 million, an increase of about HKD 14.5 million or 71.1% compared to HKD 20.4 million in 2020[77] Corporate Governance - The company has adhered to the corporate governance code as per GEM Listing Rules, ensuring compliance and protecting shareholder interests[129] - The audit committee, consisting of three independent non-executive directors, has reviewed the unaudited consolidated results for the six months ended June 30, 2021, confirming compliance with applicable accounting standards[131] Share Capital and Dividends - The company did not declare or propose any dividends for the six months ended June 30, 2021, consistent with the previous year[44] - The company’s total issued and paid-up share capital remained at HKD 11,000,000 as of June 30, 2021, unchanged from December 31, 2020[56] Future Outlook - The company is focusing on market expansion and new product development to sustain growth in the upcoming periods[8] - Future outlook remains positive with strategic initiatives aimed at enhancing operational efficiency and increasing market share[8]