Financial Performance - For the fiscal year 2022, the company's revenue decreased by 17.7% to HKD 101.1 million from HKD 122.8 million in 2021[11]. - The gross profit margin fell from 28.3% in 2021 to 17.5% in 2022 due to reduced demand for the company's products[11]. - The company recorded a net loss of HKD 11.0 million for 2022, an improvement from a net loss of HKD 32.5 million in 2021[11]. - The company's revenue decreased by HKD 21.686 million or 17.7% from HKD 122.786 million in 2021 to HKD 101.100 million in 2022, primarily due to reduced demand for functional knitted fabrics[20]. - Gross profit fell by HKD 17.039 million or 49.1% from HKD 34.692 million in 2021 to HKD 17.653 million in 2022, with gross margin declining approximately 10.8 percentage points to about 17.5%[22]. - Other income decreased by HKD 929,000 or 24.5% from HKD 3.793 million in 2021 to HKD 2.864 million in 2022, mainly due to reduced government subsidies[23]. - A loss of approximately HKD 6.296 million was recognized for impairment of leased machinery due to uncertainty in future rental income[27]. - Administrative and other expenses increased by HKD 832,000 or 4.6% to HKD 19.073 million in 2022, primarily due to salary increases and enhanced employee welfare initiatives[26]. - Financing costs decreased by HKD 350,000 or 20% to HKD 1,412,000 in the fiscal year 2022, due to a reduction in bank borrowings[29]. - Income tax expense increased by HKD 256,000 or 64.3% to HKD 654,000 in the fiscal year 2022, primarily due to the recognition of deferred tax assets[30]. - Loss attributable to owners for the fiscal year 2022 was HKD 11,025,000, a decrease from HKD 32,503,000 in the fiscal year 2021[31]. Assets and Cash Flow - Total assets for 2022 were HKD 178.7 million, down from HKD 209.3 million in 2021[10]. - Current assets decreased to HKD 157.2 million in 2022 from HKD 176.3 million in 2021[10]. - The company's cash and cash equivalents at the end of 2022 were HKD 84.8 million, down from HKD 89.7 million at the end of 2021[10]. - Operating cash flow for 2022 was HKD 9.8 million, a decrease from HKD 30.8 million in 2021[10]. - The company’s non-current assets decreased to HKD 21.5 million in 2022 from HKD 33.0 million in 2021[10]. - Net cash generated from operating activities for fiscal year 2022 was approximately HKD 9,815,000, down from HKD 30,775,000 in fiscal year 2021[32]. - Cash and cash equivalents as of December 31, 2022, were HKD 87,057,000, compared to HKD 89,740,000 as of December 31, 2021[33]. Market and Strategic Outlook - The company plans to continue monitoring market conditions and adjust its strategies accordingly to improve performance in the upcoming fiscal year[11]. - Management expects demand for the company's products to rebound significantly in the second half of 2023 following the adjustment of COVID-19 policies by the Chinese government[16]. - The company aims to strengthen its market position in China by diversifying product offerings and enhancing marketing efforts[17]. - The company plans to continue investing in R&D for functional knitted fabrics and dyeing methods to enhance competitiveness[17]. - The company aims to strengthen its position in R&D of functional fabrics while expanding into different markets and increasing promotional efforts to attract new customers[142]. Governance and Compliance - The management team is committed to maintaining high standards of business ethics and corporate governance across all operations[71]. - The company emphasizes the importance of corporate culture in achieving its vision and strategy[69]. - The company has implemented anti-corruption policies and reporting mechanisms to enhance internal fairness[71]. - The company is focused on long-term, stable, and sustainable growth while considering environmental, social, and governance factors[72]. - The board consists of 2 executive directors, 1 non-executive director, and 3 independent non-executive directors, ensuring a balance of skills and experience[76]. - The board has delegated daily management and operations to executive directors, with regular reviews of assigned functions[74]. - The company has arranged appropriate liability insurance for all directors and senior officers, which is reviewed regularly by the board[74]. - The company is committed to ensuring transparency and accountability in its operations[74]. - The board confirmed their responsibility for the preparation of the financial statements for the year ended December 31, 2022[111]. - The company has adopted internal control policies regarding insider information disclosure and has not been aware of any violations of the securities trading code or insider information policies during the reporting period[113]. - The board believes that the risk management functions and internal control systems are effective and adequate as of the fiscal year 2022[117]. - The board and audit committee are responsible for evaluating and ensuring the implementation of effective risk management and internal control systems[120]. Risk Management - The company has established procedures for identifying, assessing, and managing significant risks, including regular reporting to the board[125]. - The risk management system categorizes risks into low, medium, and high risk, and strategies for handling these risks are determined accordingly[128]. - The audit committee regularly reviews the group's performance, risk management, and internal control systems to ensure effective measures are in place to safeguard significant assets[127]. - The company has engaged external consultants for internal reviews in certain areas to maintain adequate risk management and internal control[115]. - The board has not identified any significant issues during the annual review of the risk management and internal control systems for the year ended December 31, 2022[127]. Shareholder Communication - The company will hold its 2023 Annual General Meeting on May 25, 2023, to enhance communication with shareholders[129]. - The company emphasizes the importance of transparent and timely disclosure of information to facilitate informed investment decisions by shareholders[129]. - The company encourages shareholders to attend the Annual General Meeting and will ensure that directors are available to respond to shareholder inquiries[129]. - The company has established a communication platform on its website to provide shareholders with access to financial information and governance practices[129]. - The board has confirmed the effectiveness of its communication policy and will continue to review it annually[137]. Employee Relations - The company emphasizes the importance of maintaining good relationships with employees, suppliers, customers, and other stakeholders to achieve immediate and long-term goals[154]. - The company provides competitive compensation packages to employees, including basic salaries, housing, and performance bonuses, to retain skilled and qualified personnel[156]. - The group has a performance review system that is conducted at least annually to assess employee performance and improvement areas[172]. - There were no significant disputes with employees, suppliers, customers, or other stakeholders during the year ended December 31, 2022[154]. - The group contributes to a defined contribution plan for its Chinese employees, including retirement, medical, unemployment, maternity, and work injury insurance[173]. Board Structure and Diversity - The board has a diversity policy to ensure a balanced skill set and diverse perspectives among its members[97]. - The board currently has no female directors and aims to achieve gender diversity by December 31, 2024[100]. - The nomination committee is responsible for developing and executing policies regarding the nomination of board candidates, considering factors such as age, skills, and diversity[97]. - The nomination committee held two meetings in the year ending December 31, 2022, to review and recommend changes to the board's diversity policy and structure[101]. - The board's diversity policy was revised to include specific goals and timelines for achieving gender diversity within the board and workforce[101]. Related Party Transactions - The consulting service agreement with Proudy Limited, owned by a non-executive director, was renewed for an additional two years, with consulting fees of HKD 120,000 for the fiscal year 2022[180]. - The group had no disclosed share option or share incentive plans for the fiscal years ending December 31, 2021, and December 31, 2022[175]. - The group made no purchases from the related party, Zhongshan Dayong Yarn Factory, in the fiscal year 2022, compared to HKD 12,000 in the fiscal year 2021[177]. - There were no significant transactions or contracts involving directors or related entities that were active at the end of the fiscal year 2022[182]. Compliance with Regulations - The company complied with all relevant environmental laws and regulations during the fiscal year ending December 31, 2022[198]. - The board regularly reviews and monitors compliance with applicable laws and regulations[199]. - No directors or major shareholders had interests in any competing businesses during the fiscal year ending December 31, 2022[192].

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 因依賴該等內容而引致的任何損失承擔任何責任。 ST INTERNATIONAL HOLDINGS COMPANY LIMITED 智紡國際控股有限公司 （於開曼群島註冊成立之有限公司） : 8521 （股份代號 ） 2022 年全年業績公告 智紡國際控股有限公司（「本公司」，連同其附屬公司統稱「本集團」）董事（「董事」）會（「董事會」） 2022 12 31 2022 欣然公佈本集團截至 年 月 日止年度之經審核業績。本公告載列本公司 年年報全 GEM 文，並遵守香港聯合交易所有限公司 證券上市規則中有關全年業績初步公告隨附資料的 相關規定。 代表董事會 智紡國際控股有限公司 主席 黃繼雄 2023 3 29 香港， 年 月 日 於本公告日期，董事會包括兩名執行董事，即黃繼雄先生及奚斌先生；一名非執行董事，即洪 BBS 育苗先生；及三名獨立非執行董事，即伍永亨先生、施榮懷先生， 太平紳士及方建達先生。 ...

Financial Performance - For the nine months ended September 30, 2022, the group recorded revenue of approximately HKD 74,817,000, a decrease of about 26.6% compared to HKD 101,924,000 for the same period in 2021[7] - Gross profit for the same period was approximately HKD 18,186,000, down 44.6% from HKD 32,835,000 in 2021, with a gross margin decline to 24.3% from 32.2%[7] - The group achieved a net profit of HKD 2,454,000 for the nine months ended September 30, 2022, compared to a net loss of HKD 27,028,000 for the same period in 2021[8] - The group reported a loss before tax of HKD 235,000 for the three months ended September 30, 2022, compared to a loss of HKD 34,721,000 for the same period in 2021[10] - Other income for the nine months ended September 30, 2022, was HKD 1,630,000, down from HKD 2,527,000 in 2021[10] - The total comprehensive loss for the nine months ended September 30, 2022, was HKD 24,300,000, compared to a loss of HKD 27,028,000 for the same period in 2021, indicating an improvement[14] - The effective tax rate for the nine months ended September 30, 2022, was 9.3%, a decrease of 2.2 percentage points compared to the previous year[62] Revenue Breakdown - Revenue from functional knitted fabric sales for the nine months ended September 30, 2022, was HKD 68,342,000, down from HKD 98,056,000 in the same period of 2021, representing a decrease of approximately 30.4%[25] - Revenue from clothing sales for the nine months ended September 30, 2022, was HKD 3,495,000, compared to HKD 3,868,000 in the same period of 2021, reflecting a decrease of about 9.6%[25] - The group's revenue for the nine months ended September 30, 2022, decreased by approximately HKD 27,107,000 or 26.6% to about HKD 74,817,000 compared to HKD 101,924,000 for the same period in 2021[52] Costs and Expenses - The group experienced a foreign exchange loss of HKD 10,818,000 for the nine months ended September 30, 2022, compared to a gain of HKD 2,728,000 in 2021[10] - The company's retained earnings as of September 30, 2022, were HKD 85,476,000, down from HKD 88,497,000 as of September 30, 2021[14] - Sales and distribution expenses increased by approximately HKD 676,000 or 19.8% to about HKD 4,085,000 for the nine months ended September 30, 2022[57] - Employee costs, excluding directors' remuneration, were HKD 2,288,000 for the three months ended September 30, 2022, compared to HKD 4,605,000 in the same period of 2021[34] - The cost of inventory recognized as an expense was HKD 19,976,000 for the three months ended September 30, 2022, compared to HKD 16,965,000 in the same period of 2021[34] - Research and development expenses amounted to HKD 2,180,000 for the three months ended September 30, 2022, down from HKD 2,365,000 in the same period of 2021[34] Dividends and Shareholder Returns - The group did not declare any dividends for the nine months ended September 30, 2022, consistent with the previous year[8] - No dividends were declared for the current period, consistent with the previous nine months ending September 30, 2021[65] Market and Strategic Outlook - The company plans to continue focusing on expanding its market presence and enhancing product offerings in the upcoming quarters[19] - The company plans to enhance its market position in China by increasing product variety and strengthening marketing efforts[52] - The company continues to monitor the COVID-19 situation closely and is prepared to respond to market recovery trends[52] - The company is expanding its market presence in Southeast Asia, targeting a 25% market share by the end of 2023[87] - A strategic acquisition of a local competitor is anticipated to enhance production capabilities and is expected to close by Q2 2023[87] Compliance and Governance - The company has complied with all applicable corporate governance code provisions during the period[85] - The audit committee reviewed the unaudited condensed consolidated financial information for the period and found it compliant with applicable accounting standards and regulations[81] Employee and Management Information - As of September 30, 2022, the group had 66 employees, down from 74 employees as of September 30, 2021, with total employee costs of approximately HKD 12,565,000 and HKD 13,669,000 for the respective nine-month periods[70] - Short-term employee benefits for key management personnel totaled HKD 2,608,000 for the nine months ended September 30, 2022, slightly down from HKD 2,613,000 in the previous year[48] Future Developments - The company plans to invest HKD 150 million in R&D for innovative technologies in the next fiscal year[87] - New product development includes the introduction of a smart textile line, expected to contribute HKD 300 million in revenue by Q1 2023[87] - A new marketing strategy is set to launch in Q1 2023, focusing on digital channels to increase brand awareness[87]

Financial Performance - For the six months ended June 30, 2022, the group recorded revenue of approximately HKD 48,372,000, a decrease of about 25.2% compared to HKD 64,668,000 for the same period in 2021[7]. - Gross profit for the same period was approximately HKD 14,126,000, down 19.8% from HKD 17,611,000 in the previous year[7]. - The group reported a net profit of approximately HKD 2,416,000 for the six months ended June 30, 2022, compared to HKD 6,190,000 for the same period in 2021[7]. - The total comprehensive income for the period was a loss of HKD 4,681,000, compared to a gain of HKD 8,461,000 in the previous year[10]. - Basic and diluted earnings per share for the six months ended June 30, 2022, were HKD 0.50, down from HKD 1.29 in the same period of 2021[10]. - The company reported a total comprehensive income of HKD 2,416 thousand for the six months ended June 30, 2022, down from HKD 6,190 thousand for the same period in 2021, indicating a decline of about 61%[14]. - The company's profit attributable to owners decreased from HKD 6,190,000 for the six months ended June 30, 2021, to approximately HKD 2,416,000 for the six months ended June 30, 2022[72]. Revenue and Sales - The decline in revenue was primarily due to a significant reduction in procurement orders from major customers in East and North China, caused by COVID-19 restrictions[7]. - Revenue from functional knitted fabrics sales was HKD 39,556,000 for the six months ended June 30, 2022, down 18.4% from HKD 48,499,000 in the same period of 2021[26]. - Total revenue for the six months ended June 30, 2022, was HKD 42,097,000, a decrease of 16.3% compared to HKD 50,348,000 for the same period in 2021[26]. - The company's revenue decreased by approximately HKD 16,296,000 or 25.2% from HKD 64,668,000 for the six months ended June 30, 2021, to HKD 48,372,000 for the six months ended June 30, 2022, primarily due to a significant drop in sales orders from major customers caused by the COVID-19 Omicron variant outbreak[65]. Costs and Expenses - The cost of inventory recognized as an expense was HKD 26,842,000 for the six months ended June 30, 2022, compared to HKD 37,379,000 for the same period in 2021, reflecting a decrease of 28.2%[36]. - Selling and distribution expenses increased by approximately HKD 389,000 or 21.0% from HKD 1,848,000 to HKD 2,237,000, mainly due to salary increases and higher sales and marketing service fees[67]. - Administrative and other expenses decreased by approximately HKD 303,000 or 3.2% from HKD 9,492,000 to HKD 9,189,000, primarily due to reduced depreciation and miscellaneous expenses[69]. - Employee costs, excluding directors' remuneration, amounted to HKD 7,083,000 for the six months ended June 30, 2022, compared to HKD 5,712,000 for the same period in 2021, reflecting an increase of 24.0%[36]. - Employee costs for the six months ended June 30, 2022, totaled approximately HKD 9,326,000, compared to HKD 7,920,000 for the same period in 2021, representing an increase of about 17.6%[85]. Assets and Liabilities - As of June 30, 2022, total assets decreased to HKD 183,192 thousand from HKD 209,347 thousand as of December 31, 2021, representing a decline of approximately 12.5%[12]. - Net current assets as of June 30, 2022, were HKD 117,315 thousand, slightly down from HKD 119,062 thousand as of December 31, 2021, indicating a decrease of about 1.5%[12]. - Cash and cash equivalents decreased to HKD 24,931 thousand as of June 30, 2022, from HKD 26,680 thousand as of June 30, 2021, representing a decline of approximately 6.5%[18]. - The company's non-current assets totaled HKD 29,826 thousand as of June 30, 2022, down from HKD 33,043 thousand as of December 31, 2021, reflecting a decrease of about 9.5%[12]. - Trade receivables increased to HKD 90,955,000 as of June 30, 2022, compared to HKD 65,324,000 as of December 31, 2021, reflecting a growth of 38.5%[41]. - Trade payables rose to HKD 5,301,000 as of June 30, 2022, compared to HKD 3,654,000 as of December 31, 2021, marking an increase of 45.0%[44]. - The company reported total bank borrowings of HKD 18,933,000 as of June 30, 2022, down from HKD 42,808,000 as of December 31, 2021, representing a decrease of 55.7%[48]. Corporate Governance and Compliance - The board of directors did not recommend the payment of a dividend for the six months ended June 30, 2022[8]. - The company did not declare any dividends for the six months ended June 30, 2022, nor for the same period in 2021[49]. - The audit committee, consisting of three independent non-executive directors, reviewed the group's unaudited interim financial information for the six months ended June 30, 2022[98]. - The company adheres to high standards of corporate governance and has complied with all applicable provisions of the corporate governance code as of the report date[102]. - The major shareholder, Cosmic Bliss, holds 360,000,000 shares, representing a 75.00% equity interest in the company[93]. Future Outlook - The company expects higher revenue and operating profit in the second half of the year due to seasonal demand for functional knitted fabrics[58]. - The company continues to monitor the COVID-19 situation closely and plans to respond to market recovery trends as conditions improve[61].

Financial Performance - For the three months ended March 31, 2022, the group recorded revenue of approximately HKD 6,275,000, a significant decrease of about 56.2% compared to HKD 14,320,000 for the same period in 2021[7] - Gross profit for the same period was approximately HKD 650,000, down 86.1% from HKD 4,681,000 in the previous year, resulting in a gross margin decline from 32.7% to 10.4%[7] - The group reported a net loss of HKD 4,475,000 for the three months ended March 31, 2022, compared to a profit of HKD 920,000 for the same period in 2021[7] - Total comprehensive loss for the period amounted to HKD 3,938,000, compared to a gain of HKD 229,000 in the same period last year[12] - The company reported a loss of HKD 3,226,000 for the three months ended March 31, 2022, compared to a profit of HKD 3,004,000 for the same period in 2021[33] Revenue and Sales - Revenue for the three months ended March 31, 2022, was HKD 6,275,000, a decrease of 56.2% compared to HKD 14,320,000 for the same period in 2021[24] - Sales of functional knitted fabrics amounted to HKD 2,738,000, down 78.3% from HKD 12,591,000 in the previous year[24] - Sales of functional knitted fabrics dropped to HKD 2,738,000 from HKD 12,591,000, reflecting a significant decline due to reduced orders from major clients[51] Expenses and Costs - Research and development expenses for the period were HKD 846,000, a decrease of 33.1% from HKD 1,265,000 in the previous year[33] - Selling and distribution expenses increased by approximately 35.0% to HKD 867,000 from HKD 642,000, primarily due to higher marketing consultant fees and increased personnel costs[54] - Administrative and other expenses increased by approximately HKD 1,182,000 or 36.8% to about HKD 4,394,000 for the three months ended March 31, 2022, compared to HKD 3,212,000 for the same period in 2021[55] - The total employee costs for the three months ended March 31, 2022, were approximately HKD 4,094,000, compared to HKD 3,869,000 for the same period in 2021[64] Dividends and Shareholder Returns - The board does not recommend the payment of a dividend for the three months ended March 31, 2022, consistent with the previous year[8] - The company did not declare or propose any dividends for the three months ended March 31, 2022[38] - No dividends were recommended for the three months ended March 31, 2022, consistent with the same period in 2021[58] Market Conditions and Challenges - The decline in revenue was primarily attributed to the outbreak of the highly transmissible Omicron variant of COVID-19 in China, which led to significant reductions in procurement orders from major clients in East and North China[7] - The group continues to face challenges due to ongoing COVID-19 restrictions impacting client operations and procurement orders[7] - The company faced significant uncertainty in the Chinese market due to the COVID-19 Omicron variant, leading to conservative purchasing orders from clients[47] Corporate Governance and Compliance - The board of directors did not establish any arrangements that would allow directors to profit from purchasing shares or debt securities of the company or any other entity during the reporting period[70] - The unaudited consolidated financial data for the three months ended March 31, 2022, has been reviewed and approved by the board on May 14, 2022, confirming compliance with applicable accounting standards and GEM listing rules[77] - The company has confirmed that all directors have complied with the code of conduct regarding securities transactions for the three months ended March 31, 2022[78] - The company is committed to maintaining high standards of corporate governance and has complied with all applicable code provisions during the review period[80] Financial Position and Liabilities - The company’s total liabilities increased, impacting its financial position, although specific figures were not disclosed in the summary[19] - Personal guarantees for bank borrowings increased to approximately HKD 49,322,000 as of March 31, 2022, compared to HKD 33,128,000 in the previous year[42] - The company had no significant investments or capital asset plans as of March 31, 2022[60] - There were no significant acquisitions or disposals of subsidiaries or associates during the three months ended March 31, 2022[61] - The company did not hold any significant investments as of March 31, 2022[62] - There were no significant capital commitments or contingent liabilities as of March 31, 2022[63] Research and Development Focus - The company continues to focus on expanding its market presence in functional knitted fabrics and apparel despite the recent decline in revenue[19] - The company plans to invest more resources in the research and development of functional knitted fabrics and dyeing methods to enhance its market position[48] Staffing and Employment - The company employed 69 staff as of March 31, 2022, down from 74 staff as of March 31, 2021[64]

Financial Performance - Revenue for 2021 was HKD 122.786 million, a slight increase of 1.0% from HKD 120.683 million in 2020[10] - Gross profit for 2021 was HKD 34.692 million, representing a gross margin of 28.3%[10] - The company reported a net loss of HKD 32.503 million for 2021, compared to a profit of HKD 6.111 million in 2020[10] - The company's revenue for the fiscal year 2021 increased by HKD 2,103,000 or 1.7% to HKD 122,786,000 compared to HKD 120,683,000 in fiscal year 2020[24] - The gross profit margin improved from 23.6% in fiscal year 2020 to 28.3% in fiscal year 2021, with gross profit rising by HKD 6,214,000 or 21.8% to HKD 34,692,000[25] - The company recorded a net loss of HKD 32,503,000 in fiscal year 2021, a significant decline from a profit of HKD 6,111,000 in fiscal year 2020, primarily due to a one-time bad debt provision of approximately HKD 46,300,000[20] - Other income increased by HKD 1,378,000 or 57.1% to HKD 3,793,000 in fiscal year 2021, mainly due to increased rental income from machinery[26] Cash Flow and Assets - Operating cash flow for 2021 was HKD 30.775 million, a significant recovery from a cash outflow of HKD 28.751 million in 2020[11] - Total assets decreased to HKD 209.347 million in 2021 from HKD 219.789 million in 2020[11] - The company’s net cash and cash equivalents increased to HKD 89.740 million at year-end 2021, up from HKD 38.134 million at the beginning of the year[11] - Non-current assets remained stable at HKD 33.043 million in 2021, compared to HKD 33.974 million in 2020[11] - Cash and cash equivalents as of December 31, 2021, were HKD 89,740,000, up from HKD 38,134,000 as of December 31, 2020[37] Liabilities and Financing - The total liabilities decreased to HKD 57.767 million in 2021 from HKD 40.979 million in 2020[11] - Financing costs increased by 186% from HKD 616,000 in the fiscal year 2020 to HKD 1,762,000 in 2021, attributed to higher bank borrowings[32] - The group’s total bank borrowings increased to HKD 42,808,000 as of December 31, 2021, from HKD 21,387,000 in the previous year[37] - The group’s debt-to-equity ratio as of December 31, 2021, was 28.2%, compared to 12.4% at the end of 2020[37] Strategic Plans and Market Position - The company plans to focus on market expansion and new product development in the upcoming year[12] - The company plans to enhance its market position in China by increasing product variety and strengthening marketing efforts to expand into different market segments[21] - The management is optimistic about the recovery of product demand in 2022 and will continue to invest in R&D for functional knitted fabrics[21] - The company aims to recruit talent to support future growth and deliver better long-term returns to shareholders[21] - The company aims to strengthen its position in the research and development of new functional fabrics while expanding into different markets and increasing promotion and sales efforts to attract new customers[160] Employee and Operational Efficiency - As of December 31, 2021, the group had 69 employees, down from 79 in 2020, with total employee costs amounting to HKD 17,740,000 for the fiscal year 2021, compared to HKD 17,189,000 in 2020[54] - The group has established a performance review system for employees, conducting formal evaluations at least once a year[187] - The group has no significant disputes with employees, suppliers, customers, or other stakeholders as of December 31, 2021[172] - Administrative and other expenses decreased by HKD 1,521,000 or 7.7% to HKD 18,241,000 in fiscal year 2021, mainly due to reduced administrative staff costs[30] Corporate Governance - The board of directors emphasized the commitment to high standards of corporate governance and compliance with applicable regulations[80] - The board consists of 2 executive directors, 1 non-executive director, and 3 independent non-executive directors, ensuring a balance of skills and experience[91] - The board ensures that the interests of all shareholders are fully considered in decision-making processes[94] - The audit committee is responsible for independent oversight of the group's financial reporting and internal control systems[109] - The company has established four committees: audit committee, remuneration committee, nomination committee, and corporate governance committee to oversee various aspects of the company[108] Risk Management - The board is responsible for maintaining an effective risk management and internal control system, which is reviewed annually to ensure its effectiveness[131] - The risk management framework includes identifying, assessing, and managing significant risks, with a structured approach to risk monitoring and reporting to the board[136] - The audit committee regularly reviews the group's performance and risk management systems, with no significant issues identified in the annual review for the year ended December 31, 2021[140] Shareholder Communication and Dividends - The company emphasizes effective communication with shareholders to strengthen investor relations and deepen understanding of its business and strategies[151] - The board of directors did not recommend the payment of a final dividend for the year ended December 31, 2021, consistent with the previous year[163] - The company has adopted a dividend policy since January 1, 2019, which considers factors such as cash levels, retained earnings, and projected financial performance when declaring dividends[152] - The company will hold its 2022 Annual General Meeting on May 27, 2022, to enhance communication with shareholders[142]

Financial Performance - For the nine months ended September 30, 2021, the group recorded revenue of approximately HKD 101,924,000, an increase of about 14.7% compared to HKD 88,868,000 for the same period in 2020[15]. - Gross profit for the same period was approximately HKD 32,835,000, representing a 24.9% increase from HKD 26,285,000 in the previous year[15]. - The gross profit margin improved to 32.2% for the nine months ended September 30, 2021, up from 29.6% in the same period of 2020[15]. - The company reported a net loss of HKD 27,028,000 for the nine months ended September 30, 2021, compared to a net profit of HKD 7,517,000 for the same period in 2020[15]. - The net loss was primarily due to a provision for impairment of trade receivables amounting to approximately HKD 46,100,000[15]. - Total comprehensive loss for the nine months ended September 30, 2021, was HKD 24,300,000, compared to a total comprehensive income of HKD 10,815,000 in the same period of 2020[18]. - For the three months ended September 30, 2021, the company's revenue was approximately HKD 37,256,000, a decrease of about 20.3% compared to HKD 46,782,000 for the same period in 2020[61]. - For the nine months ended September 30, 2021, the company's revenue increased by approximately HKD 13,056,000 or 14.7% to about HKD 101,924,000, compared to HKD 88,868,000 for the same period in 2020[61]. Loss Attributable to Owners - The company reported a loss attributable to owners of HKD (32,761) thousand for the three months ended September 30, 2021, compared to a profit of HKD 6,290 thousand in the same period of 2020[20]. - For the nine months ended September 30, 2021, the company reported a loss attributable to owners of HKD (24,300) thousand, compared to a profit of HKD 7,517 thousand in the same period of 2020[20]. - Total comprehensive loss attributable to owners was HKD (32,761) thousand for the three months ended September 30, 2021, down from HKD 12,492 thousand in the same period of 2020[20]. Revenue Sources - Revenue from customer contracts for the three months ended September 30, 2021, was HKD 37,256 thousand, a decrease from HKD 46,782 thousand in the same period of 2020[33]. - Revenue from functional knitted fabrics sales was HKD 36,966 thousand for the three months ended September 30, 2021, compared to HKD 43,677 thousand in the same period of 2020[33]. - Major customer A contributed HKD 12,193 thousand in revenue for the three months ended September 30, 2021, compared to HKD 11,369 thousand in the same period of 2020[36]. - Major customer B contributed HKD 6,010 thousand in revenue for the three months ended September 30, 2021, down from HKD 21,842 thousand in the same period of 2020[36]. Expenses and Costs - Employee costs (excluding directors' remuneration) for the three months ended September 30, 2021, amounted to HKD 4,864,000, an increase of 70.4% from HKD 2,855,000 in the same period of 2020[42]. - Research and development expenses for the three months ended September 30, 2021, were HKD 2,365,000, a decrease of 32.5% from HKD 3,510,000 in the same period of 2020[42]. - The company incurred finance costs of HKD 502,000 for the three months ended September 30, 2021, compared to HKD 231,000 for the same period in 2020, representing a 117.3% increase[37]. - The sales and distribution expenses increased by approximately HKD 845,000 or 33.0% to about HKD 3,409,000 for the nine months ended September 30, 2021, mainly due to increased promotional and exhibition expenses[63]. - Administrative and other expenses decreased by approximately HKD 3,095,000 or 20.1% to about HKD 12,292,000 for the nine months ended September 30, 2021[65]. Dividends and Shareholder Information - No dividends were declared for the nine months ended September 30, 2021, consistent with the previous year[16]. - The company did not declare any dividends for the period, consistent with the previous year[46]. - The major shareholder, Mr. Huang, indirectly holds 75% of the company's issued share capital as of the report date[77]. - As of September 30, 2021, the major shareholder Cosmic Bliss Investments Limited holds 360,000,000 shares, representing 75% of the company's equity[83]. Corporate Governance - The company has established an audit committee in compliance with GEM Listing Rules, which has reviewed the unaudited consolidated financial information for the period[87]. - All directors have confirmed compliance with the established code of conduct regarding securities trading during the reporting period[88]. - The company has adhered to all applicable provisions of the corporate governance code during the reporting period and up to the report date[91]. - The executive directors as of the report date include Mr. Huang Jixiong and Mr. Xi Bin, with non-executive and independent non-executive directors also listed[92]. Market Conditions and Future Plans - The company continues to monitor market conditions and adjust strategies accordingly to navigate the ongoing economic recovery in China[15]. - The company plans to continue investing in the research and development of functional knitted fabrics and dyeing methods to enhance market competitiveness[58].

Financial Performance - For the six months ended June 30, 2021, the group recorded revenue of approximately HKD 64,668,000, representing an increase of about 53.7% compared to HKD 42,086,000 for the same period in 2020[17] - Gross profit for the same period was approximately HKD 17,611,000, up 31.7% from HKD 13,367,000 in the prior year[17] - The group achieved a net profit of approximately HKD 6,190,000, significantly higher than HKD 1,227,000 for the same period in 2020[17] - Basic and diluted earnings per share for the six months ended June 30, 2021, were HKD 1.29, compared to HKD 0.26 for the same period in 2020[19] - The total comprehensive income for the period was approximately HKD 8,461,000, compared to a loss of HKD 1,677,000 in the prior year[19] - Revenue from customer contracts for functional knitted fabrics sales was HKD 48,499,000 for the six months ended June 30, 2021, compared to HKD 29,341,000 for the same period in 2020, representing a growth of 65.3%[36] - The total revenue for the six months ended June 30, 2021, was HKD 64,668,000, an increase from HKD 42,086,000 in the same period of 2020, reflecting a growth of 54.0%[36] - The company reported a net profit attributable to shareholders of HKD 6,190,000 for the six months ended June 30, 2021, compared to HKD 1,227,000 for the same period in 2020, indicating a significant increase of 404.5%[49] Cost and Profitability - The gross profit margin decreased to 27.2% from 31.8% due to rising raw material costs and competitive pricing strategies[17] - The financing costs for the six months ended June 30, 2021, totaled HKD 775,000, compared to HKD 139,000 for the same period in 2020, showing a rise of 468.3%[40] - Research and development expenses for the six months ended June 30, 2021, were HKD 2,548,000, up from HKD 2,109,000 in the same period of 2020, marking an increase of 20.9%[46] Assets and Liabilities - As of June 30, 2021, the company's total assets amounted to HKD 226,470 thousand, an increase from HKD 185,815 thousand as of December 31, 2020, representing a growth of approximately 21.9%[21] - The company's net current assets stood at HKD 154,923 thousand, compared to HKD 146,483 thousand in the previous period, reflecting an increase of about 5.5%[21] - The total equity of the company reached HKD 187,271 thousand, up from HKD 178,810 thousand at the end of 2020, indicating a growth of approximately 4.1%[21] - The company's cash and cash equivalents decreased to HKD 26,680 thousand at the end of the period, down from HKD 42,827 thousand at the end of the previous period, representing a decline of about 37.7%[27] - The company's retained earnings increased to HKD 121,715 thousand as of June 30, 2021, compared to HKD 110,770 thousand at the end of the previous period, reflecting a growth of approximately 9.0%[23] - The company’s bank borrowings rose significantly to HKD 47,062 thousand from HKD 21,387 thousand, marking an increase of approximately 120.5%[21] - Trade receivables as of June 30, 2021, amounted to HKD 90,291, an increase from HKD 75,419 as of December 31, 2020, representing a growth of 19.7%[54] - Trade payables increased significantly to HKD 11,782 as of June 30, 2021, from HKD 4,640 as of December 31, 2020, marking a rise of 153.5%[57] Dividends and Shareholder Returns - The board of directors did not recommend the payment of a dividend for the six months ended June 30, 2021, consistent with the previous year[17] - The company did not declare an interim dividend for the six months ended June 30, 2021, compared to a dividend of HKD 4,800,000 for the same period in 2020[64] Future Outlook and Strategy - The company expects higher revenue and operating profit in the second half of the year due to seasonal demand for functional knitted fabrics[74] - The company plans to continue investing in the research and development of functional knitted fabrics and dyeing methods to enhance market competitiveness[78] - The company will focus on improving product variety and strengthening marketing efforts to enhance its market position in China[78] Corporate Governance and Compliance - The audit committee reviewed the unaudited interim consolidated financial information for the six months ending June 30, 2021, and found it compliant with applicable accounting standards and GEM listing rules[119] - The company has adhered to all applicable provisions of the corporate governance code during the reporting period[123] - The company has maintained high standards of corporate governance and business practices throughout the reporting period[123] - No directors or major shareholders have interests in any business that competes directly or indirectly with the company as of June 30, 2021[118] Management and Personnel - Key management personnel compensation for the six months ended June 30, 2021, was HKD 1,728,000, a decrease from HKD 1,888,000 in the same period of 2020[72] - The total employee costs for the six months ended June 30, 2021, were approximately HKD 7,920,000, down from HKD 9,181,000 for the same period in 2020[100] - The group has recruited five R&D technical personnel to support product variety improvement strategies[106] Shareholding Structure - As of June 30, 2021, the chairman, Mr. Huang, indirectly owned 75% of the company's issued share capital[104] - As of June 30, 2021, Cosmic Bliss holds 360,000,000 shares, representing a 75.00% beneficial ownership in the company[115]

Financial Performance - For the three months ended March 31, 2021, the group recorded revenue of approximately HKD 14,320,000, a significant increase of about 47.6% compared to HKD 9,705,000 for the same period in 2020[14] - Gross profit for the same period was approximately HKD 4,681,000, representing a substantial increase of 147.5% from HKD 1,891,000 in the prior year[14] - The group reported a net profit of HKD 920,000 for the three months ended March 31, 2021, compared to a net loss of HKD 4,376,000 for the same period in 2020[14] - Total comprehensive income for the period was HKD 229,000, compared to a total comprehensive loss of HKD 6,470,000 in the same period last year[18] - Basic and diluted earnings per share for the period were HKD 0.19, compared to a loss per share of HKD 0.91 in the prior year[18] Revenue Sources - Functional knitted fabric sales contributed HKD 12,591,000, significantly up from HKD 3,160,000 year-on-year, marking a 298.4% increase[30] - The increase in revenue was attributed to the steady economic recovery in China following the COVID-19 pandemic[14] - Major customers contributing over 10% of total revenue included Customer A at HKD 5,070,000 and Customer B at HKD 5,061,000, both showing significant increases from the previous year[33] Expenses and Costs - Other income for the period was recorded at HKD 573,000, while selling and distribution expenses were HKD 642,000[16] - The company reported a financing cost of HKD 312,000 for the three months ended March 31, 2021, compared to HKD 23,000 in the same period of 2020[34] - Research and development expenses for the period were HKD 1,265,000, compared to HKD 935,000 in the same period of 2020[54] - Sales and distribution expenses decreased by approximately HKD 457,000 or 41.6% to HKD 642,000 for the three months ended March 31, 2021, primarily due to delayed discretionary bonuses and reduced marketing, travel, and business entertainment expenses[61] - Administrative and other expenses decreased by approximately HKD 2,654,000 or 45.2% to HKD 3,212,000 for the three months ended March 31, 2021, mainly due to reduced employee salaries and lower professional fees[62] - Employee costs totaled approximately HKD 3,869,000 for the three months ended March 31, 2021, down from HKD 5,290,000 for the same period in 2020[71] Dividends and Shareholder Information - The board of directors did not recommend the payment of a dividend for the three months ended March 31, 2021, consistent with the previous year[14] - The company did not declare or propose any dividends for the periods ended March 31, 2021, and 2020[43] - The company’s major shareholder, Mr. Huang, indirectly owned 75% of the issued share capital as of March 31, 2021[74] - As of March 31, 2021, Cosmic Bliss holds 360,000,000 shares, representing a 75.00% equity interest in the company[83] Corporate Governance and Compliance - The audit committee has reviewed the unaudited consolidated financial information for the three months ended March 31, 2021, and confirmed compliance with applicable accounting standards and GEM listing rules[88] - The company has adhered to all applicable provisions of the corporate governance code during the review period[91] - The company has not established any arrangements that would allow directors to profit from purchasing shares or securities of the company or any other entity during the reporting period[85] Taxation and Legal Matters - Income tax expense for the period was HKD 168,000, with a current tax of HKD 163,000 attributed to the Chinese corporate income tax[36] - The company has a tax rate of 25% for its Chinese subsidiaries, with some qualifying for reduced rates due to tax incentives[37] - Guangdong Zhaotian Textile failed to meet the net profit covenant for the fiscal year 2020, resulting in a breach of the loan agreement with China Construction Bank[78] Operational Overview - The company operates primarily in the functional knitted fabric and apparel sales sector, with all revenue, expenses, and performance metrics attributed to this single operating segment[32] - The company plans to continue investing in the research and development of functional knitted fabrics and dyeing methods to enhance its market position in China[55] - The company has implemented strict cost control measures in response to the market recovery from the impacts of COVID-19[54] - The company has adopted new accounting standards effective from January 1, 2021, with no significant impact on financial performance reported[28] - The company is classified as an investment holding company, with its subsidiaries primarily engaged in the sale of functional knitted fabrics and apparel[25] Other Information - The company’s registered office is located in the Cayman Islands, with its main operational address in Hong Kong[24] - The group had no significant investments or capital asset plans other than those disclosed in the prospectus dated April 30, 2018[67] - There were no significant acquisitions or disposals of subsidiaries or associates during the three months ended March 31, 2021[68] - The group had no significant contingent liabilities or capital commitments as of March 31, 2021[70] - There were no repurchases of listed securities by the company or its subsidiaries during the reporting period[90]

ST International Holdings Company Limited 智紡國際控股有限公司 (於開曼群島註冊成立的有限公司) (股份代號：8521) 香港聯合交易所有限公司（「聯交所」）GEM的特色 GEM的定位乃為相比其他在聯交所上市的公司帶有較高投資風險的中小型公司提供一個上市的市場。有 意投資者應了解投資於該等公司的潛在風險，並應經過審慎周詳考慮後方作出投資決定。 由於GEM上市公司通常為中小型公司，在GEM買賣的證券可能會較於主板買賣的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。 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，概不對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的GEM證券上市規則（「GEM上市規則」）而刊載，旨在提供有關智紡國際控股 有限公司（「本公司」，連同其附屬公司統稱為「本集團」）的資料；本公司董事（「董事」）願就本報告的資料 共同及個別地承擔全部責任。 各董事在作出一切合理查詢後，確認就其所知及所信，本報告所 ...