本文源自：金融界AI电报 永联丰控股(09882.HK)公布，预期该集团于2025年中期期间的纯利将较2024年同期的未经审核纯利约 990万港元下跌约85 %至95 %。 ...

Financial Performance - Revenue for the three months ended June 30, 2023, was HK$46,852,000, representing a 29.5% increase from HK$36,202,000 in the same period of 2022[15]. - Gross profit for the six months ended June 30, 2023, was HK$31,838,000, slightly down from HK$31,867,000 in the same period of 2022, indicating a stable gross margin[15]. - Operating profit for the three months ended June 30, 2023, was HK$14,090,000, compared to HK$14,868,000 in the same period of 2022, reflecting a decrease of 5.2%[15]. - Profit for the period for the six months ended June 30, 2023, was HK$14,756,000, down from HK$21,575,000 in the same period of 2022, showing a decline of 31.7%[15]. - For the three months ended June 30, 2023, total comprehensive income was HK$7,328,000, a decrease of 24.1% compared to HK$9,671,000 for the same period in 2022[18]. - The company reported a total comprehensive income of HK$11,355,000 for the six months ended June 30, 2023, down from HK$18,959,000 for the same period in 2022, a decrease of 40.1%[18]. - Profit attributable to equity holders of the Company was approximately HK$14.8 million, down from HK$21.6 million in 1H 2022; excluding non-recurring listing expenses, profit would have been HK$21.6 million[139]. Expenses and Costs - Administrative expenses for the three months ended June 30, 2023, increased to HK$5,762,000 from HK$2,987,000 in the same period of 2022, indicating a significant rise in operational costs[15]. - Cost of inventories and consumables for the six months ended June 30, 2023, was HK$40,374,000, an increase from HK$33,186,000 in 2022, reflecting a rise of about 21.5%[63]. - Employee benefit expenses, including directors' emoluments, totaled HK$6,662,000 for the six months ended June 30, 2023, compared to HK$5,973,000 in 2022, marking an increase of approximately 11.5%[63]. - Depreciation expenses for the six months ended June 30, 2023, were HK$1,870,000, compared to HK$722,000 in 2022, reflecting a significant increase of about 159.4%[63]. - Administrative expenses surged by approximately 139.5% or HK$8.1 million to about HK$13.9 million, attributed to increased depreciation and listing expenses[138]. Assets and Liabilities - Total assets as of June 30, 2023, increased to HK$172,619,000 from HK$149,188,000 as of December 31, 2022, reflecting a growth of 15.7%[21]. - Cash and cash equivalents rose significantly to HK$75,954,000 from HK$51,003,000, marking a 48.7% increase[21]. - Total equity attributable to shareholders decreased to HK$138,900,000 from HK$143,565,000, a decline of 3.2%[21]. - Current liabilities surged to HK$33,692,000 from HK$5,544,000, indicating a significant increase of 507.5%[23]. - The Group's current assets and current liabilities were HK$147.6 million and HK$33.7 million respectively, resulting in a current ratio of 4.4 times[141]. Cash Flow - Cash generated from operations for the period was HK$29,203,000, a substantial rise from HK$2,896,000 in the previous year, reflecting improved operational efficiency[37]. - The net cash generated from operating activities was HK$26,253,000, compared to HK$2,620,000 in the prior year, showcasing a strong cash flow performance[37]. - As of June 30, 2023, the Group's cash and cash equivalents increased by 48.9% or HK$25.0 million to HK$76.0 million compared to HK$51.0 million as of December 31, 2022[140]. Dividends - The company declared a dividend of HK$16,000,000 for the period, compared to no dividends declared in the previous year[23]. - The Group did not recommend the payment of dividends for the reporting period, reflecting a conservative approach to cash distribution[72]. Market Position and Strategy - The Group is a leading premium slewing ring manufacturer in the PRC, expanding its product range to include other mechanical parts and components[97]. - The Group aims to continue promoting its brand and providing high-quality products to seize more business opportunities in various regions[102]. - The Group's strategy includes the development of new products and services beyond slewing rings, enhancing its competitive edge[100]. - The Group aims to enhance production capacity by acquiring and replacing machinery and equipment at its production facilities in Dongguan, PRC[189]. Human Resources - The Group had 93 employees as of June 30, 2023, up from 82 employees as of December 31, 2022[176]. - Staff training initiatives have been implemented, with three employees awarded ISO quality management system certificates and training courses for new employees planned to resume in the second half of 2023[169][170]. Compliance and Governance - The company has confirmed that the information in the report is accurate and complete in all material respects, ensuring transparency for investors[4]. - The Group has established pandemic prevention measures to safeguard employees' health and safety, including flexible remote working arrangements[188]. - The company has adopted a Share Option Scheme to reward participants for their contributions and incentivize further contributions[199].

Financial Performance - Revenue for the three months ended March 31, 2023, was HK$30,585,000, a decrease of 6.1% compared to HK$32,567,000 for the same period in 2022[15]. - Gross profit for the reporting period was HK$13,019,000, down 8.5% from HK$14,238,000 in the previous year[16]. - Operating profit decreased significantly to HK$4,253,000, a decline of 61.0% from HK$10,912,000 in Q1 2022[16]. - Profit for the period was HK$3,138,000, representing a 65.8% decrease compared to HK$9,183,000 in the same quarter of 2022[16]. - Total comprehensive income for the period was HK$4,007,000, down 56.9% from HK$9,288,000 in Q1 2022[16]. - Basic and diluted earnings per share decreased to 0.78 HK cents, down from 2.30 HK cents in the previous year[16]. - The profit for the period ended March 31, 2023, is HK$3,138,000, compared to HK$9,183,000 for the same period in the previous year, indicating a decrease of approximately 65.8%[20]. - Profit attributable to equity holders of the Company was approximately HK$3.1 million, down from approximately HK$9.2 million for Q1 2022[118]. - Excluding non-recurring listing expenses, profit attributable to shareholders would have been approximately HK$8.0 million for the Reporting Period[118]. Expenses and Costs - Administrative expenses increased to HK$8,170,000, a rise of 189.5% compared to HK$2,829,000 in Q1 2022[16]. - The Group's listing-related expenses amounted to HK$4,944,000 in Q1 2023, which were not present in the same period of the previous year, impacting overall expenses significantly[65]. - Administrative expenses increased by approximately 192.9% or HK$5.4 million to approximately HK$8.2 million, primarily due to increased listing expenses[116]. - The Group's costs of sales decreased by approximately 3.8% or HK$0.7 million to HK$17.6 million due to a different product mix[114]. - Sales cost decreased by approximately 3.8% from HKD 18.3 million in Q1 2022 to HKD 17.6 million in the reporting period, attributed to reduced revenue and the need to produce different product combinations[119]. Revenue Breakdown - Revenue from slewing rings increased significantly, with ODM sales rising by 78.7% to HK$14.5 million, while OEM sales decreased by 25.5% to HK$0.1 million[95]. - The Group's sourcing of machineries revenue decreased by 33.9% to HK$5.0 million, compared to HK$7.6 million in Q1 2022[95]. - Revenue from sales of machineries decreased by approximately 33.9% or HK$2.6 million to HK$5.0 million due to reduced demand from customers[107]. - Revenue from sales of mechanical parts and components decreased by approximately 36.2% or HK$3.7 million to HK$6.6 million during the Reporting Period[108]. - Revenue from slewing rings increased by approximately HK$4.3 million to HK$19.0 million, representing a growth of 29.7% compared to Q1 2022[102]. - Sales of slewing rings accounted for approximately 62.0% of total revenue and approximately 82.0% of the Group's total gross profit[104]. - The overall quantity of slewing rings sold increased by 1,779 sets, representing a growth of 127.0% during the Reporting Period[104]. Equity and Reserves - As of March 31, 2023, the total equity attributable to owners of the Company is HK$147,572,000, an increase from HK$143,565,000 as of January 1, 2023, reflecting a growth of approximately 2.1%[20]. - The retained earnings as of March 31, 2023, stand at HK$115,117,000, up from HK$112,455,000 at the beginning of the year, marking an increase of about 2.4%[20]. - The statutory reserve increased from HK$4,727,000 to HK$5,203,000 during the period, reflecting a transfer of HK$476,000[20]. - The exchange reserve showed an improvement, moving from (HK$1,128,000) to (HK$259,000), indicating a positive currency translation impact[20]. Compliance and Governance - The financial statements are prepared in accordance with Hong Kong Financial Reporting Standards, ensuring transparency and compliance with local regulations[34]. - The Company has complied with all applicable Code Provisions of the Corporate Governance Code, except for Code Provision C.2.1, where the roles of chairman and chief executive are held by the same individual, Mr. YP Chan[158]. - An audit committee was established on October 21, 2019, comprising three independent non-executive Directors, to review accounting policies and practices[165]. - The Company has established written guidelines regulating the transactions of securities by senior management and employees likely to possess inside information[161]. - The Company aims to comply with the Corporate Governance Code to ensure up-to-date governance practices[159]. Future Outlook and Strategies - The Group aims to strengthen its position as a premium slewing ring manufacturer and increase profit margins by enhancing efficiency, product quality, and reducing production costs[124]. - Strategies to achieve objectives include acquiring and replacing machinery to enhance production capacity in Dongguan, expanding market share, increasing automation, and establishing an ERP system[125]. - The Group continues to develop new products and services, leveraging proceeds from its listing to enhance its manufacturing capabilities beyond slewing rings[84]. - The Group is in the process of assessing the impact of new accounting standards effective from January 1, 2024, but has not yet determined their potential significance on results[56]. Shareholder Information - As of March 31, 2023, Mr. YP Chan holds a long position of 300 million shares, representing 75% of the issued capital of the Company[129]. - The Company has conditionally adopted a Share Option Scheme to reward participants for their contributions and incentivize further contributions[133]. - C Centrum holds 300,000,000 shares, representing 75% of the company's issued capital[137]. - Ms. Leung Tak Yee, as the spouse of Mr. YP Chan, is deemed to have an interest in the same 300,000,000 shares, also representing 75%[137]. Banking Facilities - The company entered into a banking facility letter with HSBC for a trading facility of up to HK$16,000,000[150]. - The company also has a trading facility of up to HK$15,000,000 with DBS Bank[143]. - The Company is committed to ensuring Mr. YP Chan remains a director and the largest shareholder throughout the term of the banking facilities[149].

Financial Performance - Revenue for FY2022 was HK$127,730,000, a decrease of 1.9% from HK$132,250,000 in FY2021[17] - Gross profit increased to HK$57,924,000, up 6.4% from HK$54,510,000 in FY2021[17] - Profit before taxation for FY2022 was HK$41,432,000, slightly down from HK$41,866,000 in FY2021[17] - Profit for the year decreased to HK$34,929,000 from HK$35,086,000 in FY2021, reflecting a decline of 0.4%[17] - Total comprehensive income for the year was HK$30,034,000, down 17.6% from HK$36,457,000 in FY2021[17] - Total revenue for the financial year ended 31 December 2022 was approximately HK$127.7 million, a decrease of 3.4% from HK$132.3 million in 2021[39] - Net profit attributable to equity holders for 2022 was approximately HK$34.9 million, slightly down from HK$35.1 million in 2021[39] - Basic and diluted earnings per share for 2022 were approximately HK8.7 cents, compared to HK8.8 cents in 2021[39] Revenue Breakdown - Revenue from slewing rings (ODM) increased by 64.6% to HK$56.8 million in 2022, up from HK$34.5 million in 2021[20] - Revenue from mechanical parts and components decreased by 26.6% to HK$25.1 million in 2022, down from HK$34.2 million in 2021[20] - Revenue from machineries decreased by 30.2% to HK$27.3 million in 2022, compared to HK$39.1 million in 2021[20] - Revenue from slewing rings increased by approximately HK$59.0 million to HK$75.3 million for the year ended 31 December 2022, representing an increase of 27.8% compared to 2021[80] - Revenue from machineries and mechanical parts and components decreased by approximately 28.5% year-on-year or HK$20.9 million, from HK$73.3 million in 2021 to HK$52.4 million in 2022[85] Market Performance - Revenue from the Singaporean market increased by approximately 11.7% or HK$5.3 million to HK$51.2 million for the year ended 31 December 2022, compared to HK$45.9 million in 2021[97] - Revenue from the Malaysian market surged by approximately 79.4% or HK$8.3 million to HK$18.7 million for the year ended 31 December 2022, up from HK$10.4 million in 2021[97] - Revenue from the Vietnamese market rose by approximately 80.0% or HK$1.1 million to HK$2.5 million for the year ended 31 December 2022, compared to HK$1.4 million in 2021[100] Assets and Liabilities - Non-current assets increased to HK$26,422,000 from HK$19,045,000 in FY2021, representing a growth of 38.5%[17] - Current assets decreased to HK$122,766,000 from HK$125,155,000 in FY2021[17] - Current liabilities improved to HK$5,544,000 from HK$14,669,000 in FY2021, indicating a reduction of 62.3%[17] - Net current assets increased to HK$117,222,000 from HK$110,486,000 in FY2021[18] - Net assets rose to HK$143,565,000 from HK$129,531,000 in FY2021, showing an increase of 10.8%[18] Dividends - The Board recommends a final dividend of HK4.0 cents per share, totaling HK6.0 cents per share for the financial year ended 31 December 2022[40] - An interim dividend of HK2.0 cents per share, amounting to HK$8,000,000, was paid on December 12, 2022, consistent with the previous year[161] - The Board recommends a final dividend of HK4.0 cents per share, totaling HK$16,000,000 for the year ended December 31, 2022, compared to HK$8,000,000 for the previous year[162] Operational Developments - The Group plans to continue promoting its brand and providing high-quality products to seize more business opportunities in various regions[33] - The Group aims to enhance factory automation to mitigate the impact of rising labor costs and overheads in the PRC[50] - The Group has been developing new products and services, broadening its offerings to existing and new customers[45] - The Group is working on plans to enhance automation, including the installation of robotic arms and acquisition of an automatic packaging machine and CNC Coordinate Measuring Machine[135] - The Group plans to establish an ERP system, with an expected completion timeline in Q4 of 2023[135] Employee and Management - The Group increased its workforce in the sales department and hired a consultant for web design and promotion strategies to strengthen marketing efforts[133] - The Group aims to expand its finance department, having recruited a senior accountant and an accountant to accommodate business growth[137] - The Group has prepared training courses for personnel, with three employees awarded ISO quality management system certificates in 2020 and 2021[140] - In 2022, the Group engaged a training organization in Dongguan to provide training for new employees, with plans to resume scheduled trainings in 2023[141] Governance and Management Team - The management team includes experienced professionals with backgrounds in corporate finance and operational management, ensuring robust governance and strategic oversight[190] - The board of directors includes members with extensive experience in finance and corporate governance, contributing to effective decision-making processes[183] - The company emphasizes the importance of internal control and corporate governance in its operations[197] - The company is focused on maintaining high standards of accountability and performance through its governance structure[197]

Financial Performance - For the three months ended September 30, 2022, the Group reported revenue of HK$32,716,000, a decrease of 21.8% compared to HK$41,794,000 for the same period in 2021[17] - Gross profit for the same period was HK$14,848,000, down 22.5% from HK$19,098,000 in 2021[17] - Operating profit decreased to HK$12,805,000 for the three months ended September 30, 2022, compared to HK$16,313,000 in the previous year, reflecting a decline of 21.5%[17] - Profit for the period was HK$11,115,000, a decrease of 17.7% from HK$13,502,000 in the third quarter of 2021[17] - For the nine months ended September 30, 2022, total revenue increased to HK$101,485,000, up 13.6% from HK$89,337,000 in the same period of 2021[17] - The Group's gross profit for the nine months was HK$46,715,000, representing a 27.4% increase compared to HK$36,695,000 in 2021[17] - Operating profit for the nine months rose to HK$38,585,000, an increase of 36.4% from HK$28,295,000 in the previous year[17] - Profit for the nine months was HK$32,690,000, up 37.3% from HK$23,804,000 in 2021[17] Comprehensive Income - Total comprehensive income for the three months ended September 30, 2022, was HK$7,734,000, a decrease of 42.5% compared to HK$13,366,000 for the same period in 2021[19] - For the nine months ended September 30, 2022, total comprehensive income increased to HK$26,693,000, up 10.5% from HK$24,169,000 in 2021[19] Earnings Per Share - Basic and diluted earnings per share for the three months ended September 30, 2022, were HK$0.06, compared to HK$0.0278 for the same period in 2021, representing a significant increase of 115.8%[19] - For the nine months ended September 30, 2022, earnings per share rose to HK$0.0338, an increase of 41.5% from HK$0.0817 in 2021[19] Retained Earnings and Equity - The balance of retained earnings as of September 30, 2022, was HK$110,493,000, reflecting an increase from HK$79,048,000 at the beginning of the year[24] - The company's total equity as of September 30, 2022, was HK$148,224,000, compared to HK$129,531,000 at the beginning of the year, indicating a growth of 14.4%[24] Dividends - The company did not declare any dividends during the nine months ended September 30, 2022[24] - Proposed interim dividend of HK$2.0 cents per share for 2022, consistent with the previous year[70] Accounting Policies and Compliance - The unaudited condensed consolidated financial statements are presented in Hong Kong dollars (HK$)[34] - The company has not changed its accounting policies or made retrospective adjustments due to the adoption of new standards[42] - The financial statements have been prepared in accordance with applicable Hong Kong Financial Reporting Standards (HKFRSs)[36] - The company has confirmed compliance with the Model Code for securities transactions throughout the reporting period[135] Operational Highlights - The Group's performance improved significantly for the nine months ended 30 September 2022, with notable growth in slewing rings and other products[74] - The Group has positioned itself as one of the fastest-growing "one-stop service" providers in the slewing rings market[73] - The Group utilized proceeds from its listing to develop new products and expand its service offerings beyond slewing rings[72] - The COVID-19 pandemic has increased demand for the Group's sourcing services, reinforcing its market position[73] Employee and Administrative Expenses - The Group's employee benefit expenses, including directors' emoluments, totaled HK$2,885,000 for the three months ended September 30, 2022, compared to HK$2,669,000 in the same period of 2021, an increase of approximately 8.1%[60] - Administrative expenses rose by approximately 18.3% or HK$1.4 million, from HK$7.3 million to approximately HK$8.7 million, primarily due to an increase in staff costs and other administrative expenses[99] Market and Sales Performance - Revenue from slewing rings increased by approximately HK$32.9 million to HK$59.8 million for the nine months ended September 30, 2022, representing an increase of 122.6% compared to the same period in 2021[84] - Sales of slewing rings accounted for approximately 58.9% of total revenue and approximately 66.3% of the group's total gross profits[84] - The overall quantities of slewing rings sold increased by 3,600 sets, representing an increase of 191.3% compared to the nine months ended September 30, 2021[84] Corporate Governance - The company has complied with all applicable corporate governance code provisions, except for Code Provision C.2.1, where the roles of chairman and CEO are held by the same individual[134] - The audit committee, established on October 21, 2019, comprises three independent non-executive directors and has reviewed the financial statements for the reporting period[139] Future Strategies - The Group aims to enhance production capacity by acquiring and replacing machinery and equipment at its production facilities in Dongguan, PRC[103] - The Group plans to increase its market share and strengthen marketing efforts as part of its growth strategy[103] - The implementation of an enterprise resource planning (ERP) system is part of the Group's strategy to improve operational efficiency[103] - The Group is focused on increasing automation levels to enhance productivity and reduce reliance on manpower[103]

Financial Performance - For the three months ended June 30, 2022, the Group reported revenue of HK$36,202,000, an increase of 8.2% compared to HK$33,464,000 for the same period in 2021[17]. - Gross profit for the six months ended June 30, 2022, was HK$31,867,000, representing a significant increase of 81.0% from HK$17,597,000 in the prior year[17]. - The operating profit for the three months ended June 30, 2022, was HK$14,868,000, up 45.5% from HK$10,266,000 in the same period of 2021[17]. - Profit for the period for the six months ended June 30, 2022, was HK$21,575,000, compared to HK$10,302,000 for the same period in 2021, marking a growth of 109.0%[17]. - The total comprehensive income for the six months ended June 30, 2022, was HK$18,959,000, compared to HK$10,803,000 for the same period in 2021, representing a substantial increase of 75%[19]. - For the three months ended June 30, 2022, the total comprehensive income was HK$9,671,000, compared to HK$9,480,000 for the same period in 2021, representing an increase of 2%[19]. - The basic and diluted earnings per share for the period were HK$6 cents, up from HK$3.10 cents in the previous year, indicating a growth of 93%[19]. - Profit attributable to equity holders of the Company was approximately HK$21.6 million for the Reporting Period, compared to approximately HK$10.3 million for the first half of 2021[117]. Revenue Breakdown - The Group's revenue increased by 44.6% to HK$68.8 million for the Reporting Period, compared to HK$47.5 million for 1H 2021, representing an increase of HK$21.3 million[101]. - Revenue from slewing rings rose by approximately HK$22.5 million to HK$38.5 million, marking a 141.0% increase and accounting for 56.0% of total revenue[105]. - Revenue from machineries decreased by 28.1% to HK$14.1 million, while revenue from other parts increased by 34.9% to HK$16.2 million[103]. - The overall quantities of slewing rings sold increased by 2,394 sets, representing a growth of 224.2%[105]. - Sales of machineries and other parts accounted for approximately 20.5% and 23.5% of total revenue, contributing about 16.6% and 21.6% to the Group's total gross profit, respectively[111]. Expenses and Costs - The Group's total expenses for the six months ended June 30, 2022, were HK$44,066,000, compared to HK$35,283,000 for the same period in 2021, marking an increase of 25.0%[62]. - Selling and distribution expenses increased to HK$774,000 for the three months ended June 30, 2022, compared to HK$367,000 in the same period of 2021[17]. - Administrative expenses for the six months ended June 30, 2022, rose to HK$5,816,000 from HK$4,773,000 in the previous year[17]. - The cost of sales increased by approximately 23.2% or HK$7.0 million to HK$36.9 million, primarily due to increased direct labor costs and a different product mix[112]. - Employee benefit expenses, including directors' emoluments, totaled HK$3,031,000 for the three months ended June 30, 2022, an increase of 6.4% from HK$2,849,000 in the same period of 2021[62]. Assets and Liabilities - Total assets as of June 30, 2022, amounted to HK$160,614,000, an increase from HK$144,200,000 as of December 31, 2021, reflecting a growth of 11.4%[22]. - The equity attributable to shareholders increased to HK$148,490,000 as of June 30, 2022, compared to HK$129,531,000 at the end of 2021, marking a rise of 14.6%[22]. - Trade receivables rose significantly to HK$56,495,000 from HK$38,895,000 year-on-year, representing a growth of 45%[22]. - Current liabilities decreased to HK$12,124,000 as of June 30, 2022, down from HK$14,669,000 at the end of 2021, a reduction of 17%[24]. - Cash and cash equivalents at the end of the period were HK$55,775,000, down from HK$43,586,000 at the end of the previous year[38]. Investments and Capital Expenditure - The company incurred net cash used in investing activities of HK$3,380,000, compared to HK$27,000 in the previous year, indicating increased investment in property, plant, and equipment[38]. - The Group acquired property, plant, and equipment valued at approximately HK$4.5 million during the reporting period, a significant increase from HK$22,000 in the same period of 2021[73]. - Significant capital expenditure contracted but not recognized as liabilities amounted to HK$6.6 million as of 30 June 2022[89]. Corporate Governance and Shareholder Information - The company recognizes the importance of good corporate governance and aims to comply with all applicable Code Provisions of the Corporate Governance Code[195][199]. - Throughout the Reporting Period, the company has complied with all applicable Code Provisions, except for the separation of the roles of chairman and chief executive[196][199]. - The current major shareholder, Mr. YP Chan, holds a beneficial interest of 75% in the company and its subsidiary, ensuring his continued influence[188]. - The company has disclosed interests of substantial shareholders as required under the Securities and Futures Ordinance[175]. - The Board does not recommend the payment of any dividend for the Reporting Period, consistent with the previous period[191][193]. Future Plans and Strategies - The Group aims to promote its brand and seize business opportunities in various regions moving forward[96]. - The company aims to increase its level of automation, with plans to acquire a robotic arm for gear chamfering, facilitating production and quality control[140]. - The establishment of an ERP system is underway, with a contract signed in 2021, and modules are being tested for implementation in the second half of 2022[142]. - The Group aims to strengthen its position as a premium slewing ring manufacturer by increasing efficiency, product quality, and reducing production costs[166]. - The Group plans to enhance production capacity by acquiring and replacing machinery and equipment at its production facilities in Dongguan, PRC[167].

Financial Performance - Revenue for the three months ended March 31, 2022, was HK$32,567,000, representing a 131.3% increase from HK$14,079,000 in the same period of 2021[16]. - Gross profit for the same period was HK$14,238,000, up 214.5% from HK$4,520,000 year-on-year[17]. - Operating profit increased significantly to HK$10,912,000, compared to HK$1,716,000 in the prior year, marking a growth of 535.4%[17]. - Profit for the period reached HK$9,183,000, a substantial rise of 479.5% from HK$1,586,000 in the previous year[17]. - Total comprehensive income for the period was HK$9,288,000, compared to HK$1,323,000 in the same period last year, reflecting a growth of 600.5%[17]. - Basic and diluted earnings per share increased to 2.30 HK cents, up from 0.40 HK cents in the prior year[17]. - The company reported other income of HK$98,000, which is a 206.3% increase from HK$32,000 in the previous year[17]. - Profit attributable to equity holders for the Reporting Period was HK$9.2 million, significantly up from HK$1.6 million in Q1 2021[57]. - Total current income tax expense increased to HK$1.7 million from HK$0.1 million in Q1 2021[54]. Expenses and Costs - Selling and distribution expenses rose to HK$574,000, compared to HK$197,000 in the same period last year, indicating a 191.4% increase[17]. - Administrative expenses were HK$2,829,000, slightly higher than HK$2,549,000 in the previous year, showing an increase of 11%[17]. - Cost of inventories and consumables rose to HK$16.7 million, up from HK$7.8 million in the same period last year[51]. - Employee benefit expenses, including directors' emoluments, increased to HK$2.9 million from HK$2.3 million[51]. - The cost of sales increased by approximately 91.7% to HK$18.3 million, primarily due to higher direct labor costs and increased revenue[88]. - Administrative expenses increased by approximately 11.0% to HK$2.8 million, mainly due to higher staff costs[90]. Equity and Reserves - As of March 31, 2022, the company's total equity attributable to owners was HK$138,819,000, an increase from HK$102,397,000 as of March 31, 2021, reflecting a growth of 35.6%[20]. - The statutory reserve increased to HK$3,356,000 as of March 31, 2022, up from HK$2,813,000 a year earlier, indicating a rise of 19.3%[21]. - Retained earnings as of March 31, 2022, were HK$88,080,000, compared to HK$45,940,000 as of March 31, 2021, marking an increase of 91.5%[20]. - The exchange reserve increased to HK$3,872,000 as of March 31, 2022, from HK$2,133,000 a year earlier, reflecting a growth of 81.7%[21]. - The company maintained a share capital of HK$4,000,000 as of both January 1, 2022, and March 31, 2022, indicating stability in its capital structure[21]. Corporate Governance - The company confirmed that the information in the report is accurate and complete in all material respects, with no misleading statements[4]. - The Company has complied with all applicable Code Provisions of the Corporate Governance Code, except for the separation of the roles of chairman and chief executive[126]. - A corporate governance committee was established on 31 March 2022 to review the Company's governance policies[127]. - The Group has adopted a code regulating the securities transactions of Directors and executive officers, ensuring compliance throughout the Reporting Period[128]. - The audit committee was established on October 21, 2019, in compliance with GEM Listing Rules and consists of three independent non-executive Directors[133]. - The audit committee has reviewed the accounting policies and practices adopted by the Group and discussed financial reporting matters with management[134]. - The unaudited condensed consolidated financial statements for the reporting period were discussed and reviewed by the audit committee[134]. Business Operations - The company is engaged in the manufacturing and trading of slewing rings and machinery products, with a focus on expanding its market presence[31]. - The company operates primarily in the manufacturing and trading of slewing rings and machinery products[36]. - All revenue is derived from contracts with customers and recognized at a point in time[48]. - The company has identified only one operating segment for reporting purposes, which is the manufacturing and sourcing of slewing rings and machinery products[47]. - The Group has positioned itself as one of the fastest-growing "one-stop service" providers in the slewing rings market[69]. - The Group continues to develop new products and expand its service offerings beyond slewing rings[68]. - The company aims to enhance production capacity by acquiring and replacing machinery and equipment at its Dongguan facilities[100]. - The company plans to increase market share and strengthen marketing efforts[100]. - The company is focused on improving automation levels and establishing an enterprise resource planning (ERP) system[100]. - The finance department will be expanded to support business growth[100]. - Employee training will be enhanced to improve overall productivity and efficiency[100]. - The Group's business resilience was highlighted during the COVID-19 pandemic, with a surge in demand for sourcing mechanical parts[69]. Shareholding and Dividends - The company did not declare any dividends during the reported period, maintaining its focus on reinvestment[21]. - No dividends were recommended for the Reporting Period[59]. - The Board does not recommend the payment of any dividend for the Reporting Period, consistent with Q1 2021[124]. - As of March 31, 2022, Mr. Chan Yuk Pan holds a long position of 300,000,000 shares, representing 75% of the issued capital[103]. - C Centrum holds 300,000,000 shares, representing 75% of the issued capital of the Company[111]. - Ms. Leung Tak Yee, as the spouse of Mr. YP Chan, is deemed to be interested in the same 300,000,000 shares, also representing 75%[111]. - The Company has not purchased, sold, or redeemed any of its listed securities during the Reporting Period[113]. - Mr. YP Chan holds a beneficial interest of 75% in both the Company and its indirect wholly-owned subsidiary, Best Linking Limited[117]. - No share options have been granted under the Share Option Scheme since its adoption[107]. Compliance and Standards - The company has not early adopted new and amended standards that are effective for financial years beginning on or after January 1, 2022[41]. - The company is currently assessing the impact of new standards and amendments on its results and financial position[45]. - The financial statements are prepared in accordance with Hong Kong Financial Reporting Standards and the Companies Ordinance[38]. - The financial statements are presented in Hong Kong dollars (HKD) and are unaudited[36].

Financial Performance - Revenue for FY2021 was HK$132,250,000, a 90.2% increase from HK$69,499,000 in FY2020[18] - Gross profit for FY2021 reached HK$54,510,000, up 108.5% from HK$26,137,000 in FY2020[18] - Profit for the year was HK$35,086,000, representing a 157.5% increase compared to HK$13,644,000 in FY2020[18] - Total comprehensive income for FY2021 was HK$36,457,000, an increase of 118.5% from HK$16,676,000 in FY2020[18] - Total revenue for the financial year ended December 31, 2021, was approximately HK$132.3 million, representing a significant increase of approximately 90.3% compared to HK$69.5 million in 2020[34] - Net profit attributable to equity holders of the Company increased to approximately HK$35.1 million, up from HK$13.6 million in 2020[34] - Basic and diluted earnings per share were approximately 8.8 HK cents, compared to 3.4 HK cents in 2020[34] - The Group's revenue increased by 90.3% to HK$132.3 million for the year ended 31 December 2021, compared to HK$69.5 million for the year ended 31 December 2020[56] Asset and Liability Management - Non-current assets at year-end FY2021 were HK$19,045,000, up from HK$12,846,000 in FY2020[21] - Current assets increased to HK$125,155,000 in FY2021 from HK$94,741,000 in FY2020[21] - Net current assets rose to HK$110,486,000 in FY2021, compared to HK$88,307,000 in FY2020[21] - Net assets at year-end FY2021 were HK$129,531,000, an increase from HK$101,074,000 in FY2020[21] - The current ratio as of December 31, 2021, was 8.5 times, down from 14.8 times as of December 31, 2020, indicating a decrease in liquidity[110][113] - The total interest-bearing bills payables as of December 31, 2021, were approximately HK$7.0 million, compared to HK$0.9 million as of December 31, 2020, resulting in a gearing ratio of 5.4%[110] Revenue Breakdown - Revenue from slewing rings accounted for 44.6% of total revenue in FY2021, while other machineries and parts contributed 55.4%[22] - The company reported a significant increase in revenue from other rings, which rose to HK$22,481,000 in FY2021 from HK$5,033,000 in FY2020[22] - Revenue from slewing rings rose by approximately HK$24.0 million to HK$59.0 million in 2021, representing an increase of 68.6% compared to 2020[79] - Slewing rings accounted for approximately 44.6% of total revenue and about 52.1% of the Group's total gross profit[81] - Revenue generated from the Singaporean market increased by approximately 90.1% to HK$45.8 million in 2021[97] - Revenue from the Malaysian market increased by approximately 21.7% to HK$10.4 million in 2021[97] - Revenue from Hong Kong increased by approximately HK$22.8 million during the year, attributed to increased sales of machineries and other parts[98] - Revenue from Northern Ireland decreased by approximately 87.9% to HK$1.2 million due to a change in product mix[99] Operational Strategy and Growth - The Group's competitive advantages as a "one-stop service" provider were highlighted amid the COVID-19 outbreak, with increased demand for sourcing mechanical parts[39] - The Group aims to enhance factory automation to mitigate the impact of rising labor costs and overheads in the PRC[43] - The Group will continue to enhance brand recognition and strengthen its production team to maximize shareholder returns[43] - The Group's sourcing business is expected to grow stronger with tremendous potential in the future[43] - The Group's strategy includes expanding its product range and services beyond slewing rings to include other mechanical parts and components[49] - The Group aims to maintain stable growth in its procurement business to maximize returns for shareholders[48] - The Group has attracted new ODM customers, including a nominated supplier for a theme park in Hong Kong, enhancing its international customer base[65] - The Group's marketing plans were refined due to the cancellation of several trade exhibitions amid the COVID-19 pandemic[126] Cost Management - The Group's cost of sales rose by approximately 79.3% or HK$34.3 million, from approximately HK$43.4 million in 2020 to approximately HK$77.7 million in 2021, primarily due to increased revenue and a different product mix[103][105] - Administrative expenses increased by approximately 25.4% or HK$2.1 million, from HK$8.3 million in 2020 to approximately HK$10.4 million in 2021, mainly due to higher staff costs[104][106] Dividend and Shareholder Returns - The Board recommends a final dividend of HK2.0 cents per share, bringing the total distribution for the financial year to HK$4.0 cents per share[35] - An interim dividend of HK 2.0 cents per share, amounting to HK$8,000,000, was paid on December 13, 2021, with a recommendation for a final dividend of the same amount for the year ended December 31, 2021[151] Management and Governance - The company has a focus on internal control and corporate governance, as indicated by the roles of independent non-executive directors in overseeing these areas[177] - The management team includes individuals with diverse backgrounds in sales, marketing, and finance, which supports a well-rounded approach to business operations[170] - The company emphasizes independent oversight through its Audit and Remuneration Committees[188][191] - The company has a diverse board with members experienced in finance, taxation, and corporate governance[188][191] Future Plans and Investments - The Group aims to expand its market share and strengthen marketing efforts, with 14.60% of the net proceeds allocated for this purpose, and HK$4.1 million utilized[122] - The Group aims to enhance production capacity by acquiring and replacing machinery and equipment at its production facilities in Dongguan, PRC[161] - The Group's future plans do not include any significant investments or capital assets beyond what is disclosed in the prospectus[141] Employee and Operational Development - The Group had 80 employees as of December 31, 2021, an increase from 78 employees as of December 31, 2020[139] - The Group plans to enhance staff training, allocating 5.00% of the net proceeds for this purpose, with HK$1.4 million earmarked[122] - The Group has improved its current system for data processing efficiency and has recruited additional staff for the finance department[132] Market Presence and Relationships - The company has maintained a strong network with general wholesale traders or distributors, which is crucial for market expansion and sales growth[167] - The company has been actively involved in the heavy-duty equipment and parts industry, indicating a robust market presence[167] - The strategic planning and business development efforts led by Mr. YP Chan have been pivotal in the company's growth trajectory since its inception[166]