Corporate Milestones - UBoT Holding Limited successfully listed on GEM of The Stock Exchange of Hong Kong Limited on June 3, 2024, marking a significant milestone in its corporate journey[17]. - The listing represents not just a financial accomplishment but also a testament to the company's organizational resilience and strategic foresight[17]. Product Portfolio and Market Position - The company has developed an extensive portfolio exceeding 1,500 distinct product specifications in back-end semiconductor transport media, establishing itself as the third-largest manufacturer in this sector[18]. - UBoT is the third largest manufacturer in the back-end semiconductor transport media sector, as measured by 2023 revenue metrics[20]. - UBoT has a comprehensive portfolio exceeding 1,500 product specifications for tray and tray-related products, showcasing its engineering capabilities[42]. Strategic Initiatives and Growth - The successful listing enhances UBoT's capacity to pursue value-accretive strategic initiatives and improves its market prominence and operational sophistication[17]. - The public listing is expected to provide a solid foundation for sustainable growth and market penetration, positioning the company strategically for future opportunities[17]. - UBoT's strategic focus on enhancing production capabilities includes the transformation of its Shatin and Houjie Production Facilities, improving supply chain resilience and production efficiency[25]. - The establishment of a new production facility in the Philippines enhances UBoT's operational resilience and market penetration in Southeast Asia[26]. - The Group aims to enhance production capacity through automation and facility upgrades, with completed automation updates in Dongguan factories during FY2024[61]. - The Group is actively exploring additional strategic overseas sales points to expand its global footprint and strengthen its market position[60]. - The "dual-track" strategy focuses on balancing domestic market development with international expansion, integrating enhanced market penetration and new product manufacturing capabilities[64]. Financial Performance - The Group's total revenue for FY2024 was HK$162.1 million, with tray and tray-related products contributing approximately 94.0% (HK$153.3 million) of this total[47][52]. - The Group recorded revenue of HK$163.1 million for the Year, a decrease of approximately HK$25.9 million, or 13.7% compared to FY2023 (HK$189.0 million)[67]. - Revenue from sales of tray and tray-related products decreased by approximately HK$19.0 million, or 11.0%, to approximately HK$153.3 million (FY2023: HK$172.3 million)[68]. - Gross profits decreased by approximately 21.9% to HK$56.2 million (FY2023: HK$72.0 million), with a gross profit margin of 34.5% (FY2023: 38.1%)[74]. - The Group recorded a loss of HK$23.2 million for the Year, compared to a profit of HK$5.0 million for FY2023[77]. Research and Development - UBoT's commitment to research and development is crucial for addressing the demands of the evolving semiconductor industry, particularly in AI and advanced telecommunications[30]. - The Group's commitment to research and development aims to expand product offerings and maximize shareholder value[63]. - The company is committed to investing strategically in research and development, particularly in MEMS technology and automation, to enhance customer productivity[124]. Governance and Corporate Structure - The Company emphasizes high standards of corporate governance to safeguard shareholder interests and enhance long-term value[119]. - The roles of Chairman and CEO are currently held by the same individual, Mr. Tong, which the board believes is in the best interest of the company[120]. - The Board consists of eight members, with seven males and one female, resulting in approximately 12.5% female participation[140]. - The Company aims to achieve diversity across various dimensions, including age, skills, expertise, and gender, with measurable objectives reviewed regularly[139]. - The Board has maintained a composition of at least three independent non-executive Directors, representing over one-third of the Board, in compliance with GEM Listing Rules[134]. Employee and Management Practices - The employee count decreased to 312 from 410, with remuneration policies aligned with market conditions and performance[107]. - All executive Directors are under salaried employment, and their remuneration is reviewed based on skills, job responsibilities, and the Group's financial performance[161]. - The remuneration packages for executive Directors include core fixed elements and discretionary variable elements, determined by the Remuneration Committee[162]. Future Outlook - The semiconductor industry is expected to experience a resurgence, supported by strong fundamentals despite near-term headwinds[22]. - UBoT's market presence is reinforced by its technological sophistication and manufacturing excellence, positioning it to capture emerging opportunities in the high-end semiconductor market[25]. - The vision is to become a leading global provider of engineering solutions in the semiconductor and electronic manufacturing industry[125].

Financial Performance - Total revenue for the fiscal year ending December 31, 2024, was HKD 163,068,000, a decrease of 13.7% compared to HKD 188,969,000 for the fiscal year ending December 31, 2023[5] - Gross profit for the fiscal year 2024 was HKD 56,207,000, down 21.8% from HKD 71,980,000 in 2023[5] - The company reported a net loss attributable to shareholders of HKD 23,183,000 for 2024, compared to a profit of HKD 5,038,000 in 2023[5] - Total revenue for the year 2024 was HKD 163,068,000, a decrease of 13.7% from HKD 188,969,000 in 2023[16] - Sales of sales pallets and related products amounted to HKD 153,329,000, down from HKD 172,250,000, representing a decline of 11.0%[16] - Revenue from MEMS and sensor packaging was HKD 8,552,000, a significant drop of 48.2% compared to HKD 16,508,000 in the previous year[16][17] - The Southeast Asia market generated HKD 52,956,000 in revenue, down 23.4% from HKD 69,152,000 in 2023[16] - Revenue from the Chinese market was HKD 47,732,000, slightly down from HKD 49,342,000, a decrease of 3.3%[16] - The group recorded revenue of HKD 163.1 million, a decrease of approximately HKD 25.9 million or 13.7% compared to the previous year (FY2023: HKD 189.0 million) [70] - Revenue from sales of pallets and related products decreased by approximately HKD 19.0 million (or 11.0%) to approximately HKD 153.3 million (FY2023: HKD 172.3 million) due to delayed recovery in the semiconductor upstream sector and severe global market conditions [71] - Revenue from sales of MEMS and sensor packaging decreased by approximately HKD 7.9 million (or 47.9%) to approximately HKD 8.6 million (FY2023: HKD 16.5 million) due to a major customer completing a MEMS and sensor customization project and weak market sentiment [73] Assets and Liabilities - Total assets as of December 31, 2024, were HKD 125,026,000, a decrease from HKD 138,444,000 in 2023[6] - Current liabilities decreased to HKD 112,421,000 in 2024 from HKD 128,685,000 in 2023[6] - The company’s cash and cash equivalents increased significantly to HKD 7,541,000 in 2024 from HKD 1,073,000 in 2023[6] - The net asset value increased to HKD 73,786,000 in 2024, up from HKD 61,377,000 in 2023, reflecting a growth of 20.2%[7] - The company reported a lease liability of HKD 8,453,000, a decrease of 42.5% from HKD 14,742,000 in the previous year[7] - The total equity increased to HKD 73,786,000, compared to HKD 61,377,000 in 2023, indicating a growth of 20.2%[7] - Trade receivables decreased to HKD 32,801,000 in 2024 from HKD 33,400,000 in 2023, with expected credit loss provision increasing to HKD 105,000[39] - Total trade payables decreased to HKD 41,830,000 in 2024 from HKD 55,828,000 in 2023, indicating a reduction in liabilities[47] - Bank borrowings increased to HKD 65,703,000 in 2024 from HKD 50,996,000 in 2023, with secured loans rising to HKD 46,264,000[49] Expenses - Research and development expenses for the fiscal year 2024 were HKD 3,795,000, a decrease from HKD 4,822,000 in 2023[5] - Administrative expenses rose to HKD 33,733,000 in 2024 from HKD 27,640,000 in 2023[5] - The total depreciation expense decreased to HKD 13,470,000 in 2024 from HKD 17,300,000 in 2023, representing a reduction of about 22.5%[5] - The cost of inventory recognized as cost of sales was HKD 106,861,000 in 2024, down from HKD 116,989,000 in 2023, indicating a decrease of approximately 8.7%[5] - Total employee costs for 2024 amounted to HKD 63,449,000, an increase from HKD 60,668,000 in 2023, reflecting a rise of approximately 2.9%[5] Dividends - The company declared an interim dividend of HKD 0.33 per share, totaling HKD 11,220,000, with a portion offset against amounts owed to a major shareholder[34] - The company has conditionally declared an interim dividend of HKD 4,080 per share for 2024, totaling HKD 8,160,000, with part of the dividend offset against amounts owed to a shareholder[35] - The company has no proposed final dividend for the year ending December 31, 2024, consistent with the previous year[35] Market and Strategic Focus - The company plans to focus on market expansion and new product development in the upcoming fiscal year[4] - The company is focused on the research and development of semiconductor packaging and MEMS technology, which are key areas for future growth[9] - The group has established a diverse customer base covering the semiconductor value chain, enhancing business continuity and resilience against market fluctuations[60] - The group plans to expand its manufacturing product portfolio in the Philippines to include pallets and related products, aligning with its diversification strategy[67] - The group emphasizes product development, enhanced manufacturing, and technological innovation to maintain a competitive edge in the evolving semiconductor ecosystem[67] Economic Context - The global semiconductor industry revenue increased to USD 627.6 billion in 2024, representing a growth of 19.1% from USD 526.8 billion in the previous year[58] - The GDP growth rate in China for 2024 is reported at 5%, aligning with government targets despite global economic challenges[57] - The global economy is projected to grow at a moderate rate of 3.3% between 2025 and 2026 according to the International Monetary Fund[65] - China's economy is expected to experience moderate growth of 4.6% in 2025, slightly slowing to 4.5% in 2026[66] Corporate Governance - The company has granted a total of 5,150,000 share options under the 2024 Share Option Scheme, representing approximately 1% of the issued share capital[93] - The company has not differentiated the roles of Chairman and CEO, with Mr. Tang holding both positions, which the board believes is in the best interest of the group[98] - The audit committee, composed of three independent non-executive directors, has reviewed the group's consolidated performance for the year and confirmed compliance with applicable accounting standards and regulations[103] - There have been no significant events affecting the group since December 31, 2024, up to the date of this announcement[102] Employment and Workforce - As of December 31, 2024, the group has 312 employees, a decrease from 410 employees as of December 31, 2023[92]

UBOT UBoT Holding Limited UBOT 優博控股有限公司 優博控股有限公司 (Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立的有限公司) Stock code 股份代號: 8529 UEar INTERIM REPORT 2024 CHARACTERISTICS OF GEM OF THE STOCK EXCHANGE OF HONG KONG LIMITED (THE "STOCK EXCHANGE") GEM has been positioned as a market designed to accommodate small and mid-sized companies to which a higher investment risk may be attached than other companies listed on the Stock Exchange. Prospective investors should be aware of the potential risk ...

Financial Performance - For the six months ended June 30, 2024, the company reported revenue of HKD 79,612,000, a decrease of 16.4% compared to HKD 95,216,000 for the same period in 2023[3] - Gross profit for the same period was HKD 27,936,000, down 25.8% from HKD 37,635,000 year-on-year[3] - The company recorded a loss attributable to shareholders of HKD 9,461,000 for the six months ended June 30, 2024, compared to a profit of HKD 3,668,000 in the previous year[3] - Total comprehensive income for the period was HKD (10,914,000), a significant decline from HKD 4,645,000 in the prior year[2] - Revenue for the six months ended June 30, 2024, was HKD 79,612 thousand, a decrease of 16.4% compared to HKD 95,216 thousand for the same period in 2023[11] - Sales of pallets and related products amounted to HKD 73,535 thousand, down from HKD 87,980 thousand, representing a decline of 16.4%[11] - The revenue from MEMS and sensor packaging was HKD 5,538 thousand, compared to HKD 7,084 thousand, reflecting a decrease of 21.8%[11] - The Southeast Asia market generated revenue of HKD 25,995 thousand, down 27.4% from HKD 35,792 thousand in the previous year[11] - The company reported a pre-tax loss of HKD 7,828 thousand after accounting for listing expenses of HKD 8,363 thousand[14] - The adjusted pre-tax profit (excluding non-recurring listing expenses) was HKD 535,000, compared to HKD 6.8 million in the same period last year, with a reported loss of HKD 9.5 million after accounting for listing expenses of approximately HKD 8.4 million[60] Assets and Liabilities - Non-current assets increased to HKD 69,089,000 as of June 30, 2024, compared to HKD 66,497,000 at the end of 2023[4] - Current assets decreased to HKD 148,312,000 from HKD 138,444,000 at the end of 2023[4] - The company's cash and cash equivalents rose significantly to HKD 33,631,000 from HKD 1,073,000 at the end of 2023[4] - Total liabilities decreased to HKD 118,914,000 from HKD 128,685,000 at the end of 2023[4] - The company has a net asset value of HKD 86,095,000 as of June 30, 2024, compared to HKD 61,377,000 at the end of 2023[5] - Trade receivables, net of credit loss provisions, were HKD 29,209,000 as of June 30, 2023, compared to HKD 32,742,000 as of December 31, 2024, reflecting a decrease of approximately 10%[34] - Total trade payables increased from HKD 52,466,000 as of June 30, 2023, to HKD 55,828,000 as of December 31, 2024, representing an increase of about 6.5%[37] - Bank borrowings, including secured loans and trade receivables financing, totaled HKD 54,207,000 as of June 30, 2023, down from HKD 50,996,000 as of December 31, 2024[39] - The company’s total current liabilities, including bank borrowings due within one year, were HKD 49,262,000 as of June 30, 2023, compared to HKD 44,675,000 as of December 31, 2024[40] Operational Focus - The company is focused on the research, development, manufacturing, and sales of semiconductor packaging and MEMS sensors[6] - The company continues to focus on the manufacturing and sales of backend semiconductor transmission medium products and MEMS and sensor packaging[14][15] - The company is focused on precision manufacturing of engineering plastics, particularly in the design, development, manufacturing, and sales of pallets and related products[47] - The company plans to expand its operations in the Philippines, focusing on carrier tape manufacturing to enhance operational efficiency and delivery capabilities[53] - The company aims to strengthen its sales and marketing efforts in key global markets, particularly in China, by establishing new sales points in Shenzhen and Chengdu[53] - The company is enhancing its R&D programs to improve product offerings and meet the evolving demands of high-quality customers[54] Market Position and Strategy - The company ranked third globally in sales revenue within the semiconductor packaging industry, holding approximately 8.4% market share in 2023[47] - Revenue contributions by region showed Southeast Asia accounting for approximately 32.6%, with China and Taiwan contributing about 28.9% and 20.1% respectively[48] - The global semiconductor market is expected to experience significant expansion driven by increased demand in China and advancements in AI technology[52] - The board anticipates that the semiconductor industry has reached a cyclical low and is on the verge of a new growth phase[52] - The company is implementing automation in its production facilities to increase productivity and efficiency, ensuring a competitive edge in the market[52] Employee and Administrative Costs - The total employee costs for the six months ended June 30, 2024, were HKD 32,584,000, compared to HKD 29,186,000 in the same period of 2023, reflecting an increase of approximately 8.2%[24] - Administrative expenses increased by approximately 11.3% to HKD 13.9 million, up from HKD 12.5 million in the same period last year, primarily due to increased consulting fees related to factory renovations[58] Shareholder and Dividend Information - The company declared an interim dividend of HKD 0.33 per share, totaling HKD 11,220,000, with HKD 5,778,000 payable to a major shareholder offset against amounts receivable[28] - The company does not plan to declare an interim dividend for the six months ending June 30, 2024[75] Compliance and Governance - The company has established an Audit Committee consisting of three independent non-executive directors[80] - The external auditor, Dahuama Shiyun CPA, has reviewed the unaudited consolidated financial statements and found no issues[80] - The Audit Committee and management have reviewed the unaudited consolidated performance and confirmed compliance with applicable accounting standards and GEM listing rules[80] - The interim report for the six months ending June 30, 2024, will be published on the company's and the Hong Kong Stock Exchange's websites[81] - The announcement regarding the interim results will be sent to shareholders as per GEM listing rules[81]