Financial Performance - The total revenue for the year ended December 31, 2023, was HKD 866,251,000, representing a 26.5% increase from HKD 684,947,000 in 2022[4] - Gross profit for the same period was HKD 335,541,000, up 61.5% from HKD 207,692,000 in the previous year[4] - The net profit attributable to the owners of the company for 2023 was HKD 102,286,000, an increase of 39.9% compared to HKD 73,058,000 in 2022[4] - Basic and diluted earnings per share increased to HKD 9.30 from HKD 6.64, reflecting a growth of 39.8%[4] - The gross profit margin increased to approximately 38.7% for the year ended December 31, 2023, compared to 30.3% in 2022, primarily due to a decrease in raw material unit prices and reduced recurring production expenses[60] - The group recorded a net profit of approximately HKD 155.3 million for the year ended December 31, 2023, an increase of about HKD 82.2 million or 112.4% compared to approximately HKD 73.1 million in the same period of 2022, excluding the impact of the recall provision[70] Assets and Liabilities - Total assets as of December 31, 2023, amounted to HKD 686,918,000, compared to HKD 501,320,000 in 2022, marking a 37.0% increase[5] - The total liabilities decreased to HKD 181,348,000 from HKD 98,057,000, indicating a reduction of 7.5%[6] - The company's equity increased to HKD 505,570,000 from HKD 403,263,000, reflecting a growth of 25.4%[6] - The group’s debt-to-equity ratio decreased from approximately 13.4% as of December 31, 2022, to approximately 3.6% as of December 31, 2023, primarily due to a reduction in bank borrowings[74] Cash Flow and Financing - Cash and cash equivalents increased significantly to HKD 336,772,000 from HKD 171,354,000, representing a 96.5% rise[5] - Financing costs increased to HKD 14,571,000 in 2023 from HKD 8,811,000 in 2022, largely due to higher bank loan interest expenses of HKD 14,277,000[32] - The company has repaid approximately 2.9 million HKD of bank loans in Hong Kong and Vietnam, and approximately 4.0 million HKD of overdrafts in Hong Kong[98] Revenue Sources - Sales of scented candles significantly increased to HKD 612,177,000 in 2023, up 28.2% from HKD 477,277,000 in 2022[18] - Revenue from the US market was HKD 801,380,000 in 2023, representing a 32.5% increase from HKD 604,968,000 in 2022[26] - Major customer A contributed HKD 544,698,000 in revenue for 2023, accounting for over 10% of total revenue[29] Other Income and Expenses - The company reported other income of HKD 9,111,000, which is a significant increase from HKD 3,525,000 in the previous year, showing a growth of 158.5%[4] - Other income for 2023 reached HKD 9,111,000, a significant increase from HKD 3,525,000 in 2022, primarily driven by bank interest income of HKD 4,800,000 compared to HKD 469,000 in the previous year[30] - Sales and distribution expenses for the year ended December 31, 2023, were approximately HKD 86.2 million, an increase of about HKD 59.2 million or 219.3% compared to approximately HKD 27.0 million in the same period of 2022, mainly due to a recall provision of approximately HKD 53.0 million[64] - Administrative expenses for the year ended December 31, 2023, were approximately HKD 110.7 million, an increase of about HKD 23.7 million or 27.2% compared to approximately HKD 87.0 million in the same period of 2022, primarily due to increased salaries, bonuses, and allowances[65] Future Plans and Developments - The company plans to complete the construction of a new factory in the first half of 2024, which is expected to further enhance production capacity and efficiency[56] - The company plans to renovate existing production facilities in 2024 to enhance operational efficiency[94] - The board remains optimistic about future development and plans to implement proactive marketing strategies and invest more resources in product development[90] Employee and Operational Metrics - The group employed approximately 1,270 employees as of December 31, 2023, an increase from approximately 1,060 employees in 2022, with total employee compensation of approximately HKD 141.2 million for the year[84] - The construction of a new factory in Vietnam is approximately 55.9% complete as of December 31, 2023, with an expected completion in the first half of 2024, subject to potential delays[86] Compliance and Governance - The audit committee has reviewed the consolidated financial statements for the year ended December 31, 2023[107] - The financial figures in the preliminary announcement for the year ended December 31, 2023, have been verified by the auditor, confirming consistency with the audited financial statements[109] - The annual general meeting for the fiscal year 2023 is scheduled for June 7, 2024[110]

Financial Performance - For the nine months ended September 30, 2023, the company reported revenue of HKD 689,036,000, a 31.6% increase from HKD 523,918,000 in the same period of 2022[5] - Gross profit for the same period was HKD 260,558,000, representing a 74.8% increase compared to HKD 149,037,000 in 2022[5] - The net profit attributable to the owners of the company for the nine months was HKD 120,327,000, up 126.3% from HKD 53,095,000 in the previous year[5] - Basic and diluted earnings per share for the nine months were HKD 10.94, compared to HKD 4.83 in 2022, reflecting a 126.1% increase[5] - The company reported a total comprehensive income of HKD 120,342,000 for the nine months, significantly higher than HKD 52,944,000 in the same period last year[5] - Other income for the nine months ended September 30, 2023, totaled HKD 4,365,000, an increase from HKD 2,550,000 in the same period of 2022[22] - Bank interest income rose to HKD 2,855,000 for the nine months ended September 30, 2023, compared to HKD 141,000 in 2022[22] - The company's income tax expense for the nine months ended September 30, 2023, was HKD 26,805,000, compared to HKD 12,259,000 in the same period of 2022, marking an increase of 118.5%[7] - Net profit for the nine months ended September 30, 2023, was approximately HKD 120.3 million, an increase of about HKD 67.2 million or 126.6% compared to HKD 53.1 million in 2022[44] Revenue Breakdown - Sales of scented candles significantly increased to HKD 488,985,000 for the nine months ended September 30, 2023, up 32.7% from HKD 368,268,000 in 2022[14] - Revenue from the United States for the nine months ended September 30, 2023, was HKD 639,473,000, representing a 40.4% increase compared to HKD 455,415,000 in 2022[21] - The increase in revenue was primarily due to a rise in sales of scented candles, contributing approximately HKD 120.7 million[36] - The sales of scented candles increased by approximately HKD 120.7 million or 32.8% compared to the same period in 2022, reflecting a sustained preference in the US market for scented and colored candles[32] Expenses - The company incurred financing costs of HKD 9,620,000 for the nine months, an increase from HKD 5,222,000 in 2022[5] - Administrative expenses for the nine months were HKD 80,435,000, compared to HKD 60,984,000 in the previous year, indicating a 32.0% increase[5] - Sales and distribution expenses for the nine months ended September 30, 2023, were approximately HKD 28.7 million, an increase of about HKD 9.0 million or 45.7% compared to HKD 19.7 million in 2022[40] - The total cost of inventory recognized as an expense for the nine months ended September 30, 2023, was HKD 428,478,000, an increase from HKD 374,881,000 in 2022, reflecting a rise of 14.3%[27] - The total employee benefits expense (excluding directors' remuneration) for the nine months ended September 30, 2023, was HKD 59,979,000, up from HKD 49,437,000 in 2022, indicating a year-on-year increase of 21.4%[27] Assets and Liabilities - The company’s total assets as of September 30, 2023, were HKD 523,605,000, up from HKD 403,263,000 at the beginning of the year[6] - Financing costs for the nine months ended September 30, 2023, amounted to HKD 9,620,000, up from HKD 5,222,000 in 2022[24] Corporate Governance - The company has adopted new accounting standards which did not have a significant impact on its financial performance for the current or previous year[10] - The company has adhered to the corporate governance code as per GEM Listing Rules for the nine months ending September 30, 2023[69] - The audit committee, consisting of three independent non-executive directors, has reviewed the unaudited consolidated results for the nine months ending September 30, 2023, ensuring compliance with applicable accounting standards and regulations[72] - The board of directors includes the chairman Mr. Huang Weijie and CEO Mr. Huang Wenchie, along with three independent non-executive directors[73] Shareholder Information - As of September 30, 2023, major shareholders hold significant stakes, with AVW owning 643,500,000 shares, representing 58.5% of the issued shares[56] - Huayi Si Enterprise Limited and its controlled entities collectively hold 181,500,000 shares, accounting for 16.5% of the issued shares[56] - The company has a stock option plan in place, allowing for the issuance of up to 110,000,000 shares, which is 10% of the total issued shares as of the report date[61] - No stock options have been granted under the stock option plan since its adoption on June 23, 2018[63] - The company is required to seek shareholder approval for any updates to the stock option plan's limits[61] Future Outlook - The company continues to focus on the manufacturing and sales of candle products, with plans for market expansion and potential new product development[7] - The company continues to maintain strong relationships with customers, which is expected to lead to future business opportunities and growth[34] - The company has established contracts with sales representatives since 2018 to incentivize them for customer orders, which is expected to drive potential future orders[32] - The company has entered into a construction contract valued at VND 135 billion (approximately HKD 44.9 million) for building a new factory in Vietnam, with construction expected to be completed by March 22, 2024[45][46]

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9月30日止九個月 之第三季度業績公告 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 - Revenue for the six months ended June 30, 2023, was HKD 371,344,000, an increase of 9.5% compared to HKD 339,305,000 for the same period in 2022[9] - Gross profit for the same period was HKD 136,834,000, representing a 40.6% increase from HKD 97,317,000 in 2022[9] - Net profit attributable to owners for the six months ended June 30, 2023, was HKD 59,523,000, up 59.0% from HKD 37,456,000 in 2022[9] - Basic earnings per share increased to HKD 5.41 from HKD 3.41, reflecting a growth of 58.6%[9] - The company reported a profit of HKD 59,523,000 for the six months ended June 30, 2023, compared to HKD 37,456,000 for the same period in 2022, marking a growth of 59%[14] - The company incurred a total comprehensive income of HKD 59,545,000 for the six months ended June 30, 2023, compared to HKD 37,278,000 for the same period in 2022, an increase of 60%[14] - The net profit for the six months ended June 30, 2023, was approximately HKD 59.5 million, an increase of about HKD 22.0 million or 58.7% compared to HKD 37.5 million in the same period of 2022[66] Assets and Liabilities - Total assets as of June 30, 2023, amounted to HKD 647,356,000, compared to HKD 501,320,000 at the end of 2022, marking a 29.1% increase[11] - Current assets increased significantly to HKD 501,885,000 from HKD 353,240,000, a rise of 42.0%[11] - Total liabilities increased significantly to HKD 184,548,000 as of June 30, 2023, compared to HKD 98,057,000 as of December 31, 2022, reflecting a growth of 88%[12] - Current liabilities increased to HKD 158,262,000 from HKD 69,254,000, a rise of 128.5%[11] - Net asset value rose to HKD 462,808,000 as of June 30, 2023, up from HKD 403,263,000 at the end of 2022, representing an increase of 15%[12] - The total liabilities increased to approximately HKD 184.5 million as of June 30, 2023, compared to HKD 98.0 million as of December 31, 2022, resulting in a debt-to-equity ratio of approximately 14.4%[68] Cash Flow and Financing - Cash and cash equivalents decreased to HKD 134,754,000 as of June 30, 2023, from HKD 139,075,000 a year earlier, a decline of 3%[15] - Operating cash flow showed a net outflow of HKD 43,729,000 for the first half of 2023, compared to a net inflow of HKD 18,034,000 in the same period of 2022[15] - New bank borrowings amounted to HKD 53,652,000 during the first half of 2023, down from HKD 108,097,000 in the same period of 2022, a decrease of 50%[15] - Financing costs for the six months ended June 30, 2023, amounted to HKD 4,244,000, an increase from HKD 2,939,000 in the same period of 2022[34] - The total interest-bearing borrowings amounted to approximately HKD 62.2 million as of June 30, 2023, compared to HKD 49.7 million as of December 31, 2022[67] Market and Sales Performance - Sales of scented candles reached HKD 270,209,000 for the six months ended June 30, 2023, up 8.4% from HKD 250,175,000 in the prior year[22] - Revenue from the US market was HKD 352,901,000 for the six months ended June 30, 2023, representing a 18.2% increase from HKD 298,572,000 in 2022[29] - The sales of scented candles increased by approximately HKD 20.0 million or 8.0%, reflecting a growing preference in the U.S. market for scented and colored candles[56] Employee and Operational Insights - Total employee costs for the six months ended June 30, 2023, amounted to HKD 40,779,000, up 18% from HKD 34,623,000 in the previous year[38] - The group employed approximately 1,070 employees as of June 30, 2023, a decrease from approximately 1,300 employees as of June 30, 2022[77] - The total employee compensation for the six months ended June 30, 2023, was approximately HKD 69.6 million, compared to HKD 49.5 million for the same period in 2022[77] Corporate Governance and Compliance - The company has complied with the corporate governance code as per GEM Listing Rules during the six months ending June 30, 2023[109] - The audit committee has been established in accordance with GEM Listing Rules and consists of three independent non-executive directors[111] - The audit committee reviewed the unaudited consolidated performance for the six months ended June 30, 2023, and confirmed compliance with applicable accounting standards and legal requirements[112] Future Plans and Investments - 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 aims to expand its market presence in the U.S. and U.K. by offering mid-to-high-end candle products, capitalizing on the growing demand for scented candles[55] - The company plans to upgrade existing production facilities, expecting renovations to be completed by 2024[85] - The group entered into a construction contract valued at approximately VND 135 billion (approximately HKD 44.9 million) for building a new factory in Vietnam, with construction expected to be completed by March 22, 2024[78]

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6月30日止六個月 之中期業績公告 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及個 ...

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]