2020/2021
CONTENTS ͦ
Corporate Information 02 ʮ̡༟ࣘ
Management Discussion and Analysis 04 ၍ଣᄴীሞʿʱؓ
Financial Statements ৌਕజڌ
Condensed Consolidated Statement of Profit or Loss 15 ᔊၝΥฦूڌ
Condensed Consolidated Statement of Comprehensive Income 16 ᔊၝΥΌࠦϗूڌ
Condensed Consolidated Statement of Financial Position 17 ᔊၝΥৌਕًرڌ
Condensed Consolidated Statement of Changes in Equity 18 ᔊၝΥᛆूᜊਗڌ
Condensed Consolidated Statement of Cash Flows 19 ᔊၝΥତږݴඎڌ
Notes to Condensed Consolidated Interim Financial Statements 21 ᔊၝΥʕಂৌਕజڌڝൗ
Information Provided in Accordance with the Listing Rules 34 ࣬ኽɪ̹ۆԶʘ༟ࣘ
2 | |
CORPORATE INFORMATION | |
公司資料 | |
EXECUTIVE DIRECTORS | ੂБԫ |
Mr. CHAN Peter Tit Sang | ᚛͛͛ |
Mr. CHAN Kenneth Chi Kin | қ͛ |
Mr. CHAN Chi Ming | қ͛ |
Mr. CHAN Chun Sang Desmond | ݆͛͛ |
INDEPENDENT NON-EXECUTIVE | ዹͭڢੂБԫ |
DIRECTORS | |
Mr. NG Sze Yuen Terry | юɻʩ͛ |
Dr. CHU Po Kuen Louis | ϡᗅᛆᔼ͛ |
Mr. WONG Kam Fai | රᎀሾ͛ |
COMPANY SECRETARY | ʮ̡।ࣣ |
Ms. NG Yin Ting Joyce | юዲణɾɻ |
PRINCIPAL OFFICE | ˴ࠅ፬ԫஈ |
4/F, Sze Hing Industrial Building | ࠰ಥࣵᝄ |
35-37 Lee Chung Street | л35-37 |
Chai Wan, Hong Kong | سጳʈุɽᅽ4ᅽ |
PRINCIPAL BANKS | ˴ࠅֻԸვБ |
Bank of China (Hong Kong) | ʕვБ€࠰ಥ |
29-31 Lee Chung Street | ࠰ಥࣵᝄ |
Chai Wan, Hong Kong | л29-31 |
DBS | ࢝ვБ |
Units 1201, 1210-18, 12th Floor | ɘᎲφӍէ |
Miramar Tower, 132-134 Nathan Road | Ꮞ༸132-134ߕᘆശɽข |
Tsimshatsui, Kowloon | 12ᅽ1201,1210-18܃ |
AUDITOR | |
Ernst & Young | τ͑ึࠇࢪԫਕה |
SHARE REGISTRAR | ٰ΅ཀ˒೮াஈ |
Tricor Investor Services Limited | ՙԳᗇՎ೮াϞࠢʮ̡ |
Level 54, Hopewell Centre | ࠰ಥ |
183 Queen's Road East | ެΧɽ༸؇183 |
Hong Kong | Υձʕː54ᅽ |
ࣨᅰࢪ
MANAGEMENT DISCUSSION AND ANALYSIS 管理層討論及分析
ON
PAPER-RELATED PRINTING PRODUCTS 產品以紙類印刷品為主
Products are mainly used in the markets of various consumer products as well as for the purposes of promotion, advertising and education.
我們的印刷品應用廣泛, 遍及不同的消費產品市場,以及用於宣傳、 廣告及教育等用途
MANAGEMENT DISCUSSION AND ANALYSIS 管理層討論及分析
REVIEW OF OPERATION
Sun Hing Printing Holdings Limited (the "Company") and its subsidiaries (collectively referred to as the "Group") is a one-stop printing service provider. Our printing services can be broadly categorised into (i) packaging printing services which cover, among others, corrugated boxes, gift boxes, card boxes and product boxes; (ii) paper gift set printing services which cover, among others, gift sets and game sets containing gift boxes, cards, booklets and hardback books; (iii) card printing services which cover, among others, colour cards, insert cards, warranty cards and plain cards; (iv) smart package printing services which cover, among others, Near-field communications ("NFC") tags, Radio-frequency Identification ("RFID") labels and Real QR Code; and (v) other printing services which cover, among others, stickers, colour papers, yupo papers and red packets.
Given the unstable economic environment, printing industry in Hong Kong is encountering intense competition. The COVID-19 global pandemic has continuously clouded the economic landscape of worldwide. Corresponding measures, such as lockdown of many nations and cities, have encumbered not just specific areas but global economy. Furthermore, the Sino-US trade tension is still threatening customers' willingness to spend on printing and promotion. The abovementioned factors are repeatedly challenging the Group's business operations and development.
The Group's revenue decreased by approximately 8.1% to approximately HK$163.7 million for the six months ended 31 December 2020 compared to the same period last year. The decrease in revenue is inevitably caused by the COVID-19 global pandemic, which has weakened international retail markets. Some of our customers have prudently frozen or even reduced their budget on new projects till the pandemic is under control. The gross profit also decreased by approximately 5.9% from approximately HK$66.3 million for the six months ended 31 December 2019 to approximately HK$62.3 million for the six months ended 31 December 2020, as a result of the decrease in revenue.
Despite the decrease in the sales, following the adoption of stringent cost control, our gross profit margin increased from approximately 37.2% for the six months ended 31 December 2019 to approximately 38.1% for the six months ended 31 December 2020. Our profit for the period decreased slightly by approximately HK$0.5 million from approximately HK$28.0 million for the six months ended 31 December 2019 to approximately HK$27.5 million for the six months ended 31 December 2020. The net profit margin increased from approximately 15.7% for the six months ended 31 December 2019 to approximately 16.8% for the six months ended 31 December 2020.
Basic earnings per share was HK5.74 cents, compared to a basic earnings per share of HK5.84 cents for the corresponding period in 2019.
ุਕΫᚥ
อጳΙՏછٰϞࠢʮ̡€˜͉ʮ̡™ʿՉڝ᙮ʮ̡ €୕၈˜͉ණྠ™މɓ१όΙՏਕԶᏐਠfҢࡁ ٙΙՏਕ̙ɽߧʱމ(i)̍ༀΙՏਕdႊ€Չ ʕܼ͙̍ใଷeᓿۜଷe̔ଷʿପۜଷi(ii)ॷᓿ ۜࢁༀΙՏਕdႊ€Չʕܼ̍ᓿۜࢁༀʿ༷ Ꮥࢁༀ࢙ॶᓿۜଷe̔˪eʃ̅ɿʿၚༀࣣi(iii) ᩹ΙՏਕdႊ€Չʕܼ̍Ѝ̔˪eౢ ࠫ̔˪eڭࡌ̔ʿͣ̔i(iv)౽ঐ̍ༀΙՏਕd ႊ€Չʕܼ̍ڐ൷ᕎೌᇞஷৃ€˜NFC™ᅺᜀe ೌᇞ࢛᎖ᗆй€˜RFID™ᅺᜀʿྼيɚၪᇁiʿ(v) Չ˼ΙՏਕdႊ€Չʕܼ̍൨ॷeॷeΥ ϓॷʿл݊܆f
ίʔᖢ֛ٙᐑྤɨd࠰ಥΙՏุ͍ࠦ࿁ዧड ٙᘩنfอۨڿًषݭޥઋΌଢɽݴБܵᚃ࿁Ό ଢҖැႆɪᛣfમ՟Ꮠણ݄dܼ̍ ܆ᕁʿ̹۬dʔШڜᖟ΅ήਜٙ೯ ࢝d͵ᅂᚤΌଢٙᐑྤfΝࣛdʕߕʘගٙ ൱ၡੵᗫڷɰ࿁܄˒ίΙՏʿ܁ෂ˙ࠦٙऊ൬ จ૧ிϓࠋࠦᅂᚤfɪࠑΪ९ޫމ͉ණྠุٙਕ ᐄʿ೯࢝੭Ըܿf
࿚Їɚཧɚཧϋɤɚ˜ɧɤɓ˚˟ʬࡈ˜d͉ණ ྠٙϗू༰̘ϋΝಂಯˇߒ8.1%Їߒ163.7ϵຬ ಥʩfϗूಯˇɗ˴ࠅ͟อۨڿًषݭޥઋΌ ଢɽݴБdۂࢮəყཧਯ̹ఙf΅܄˒ʊ ڭςήࡖഐא٫ಯЭอධͦٙཫၑdٜЇޥઋɽ ݴБաછf͟ϗूɨࠥdˣл͵͟࿚Їɚཧ ɤɘϋɤɚ˜ɧɤɓ˚˟ʬࡈ˜ߒ66.3ϵຬಥʩ ಯˇߒ5.9%Ї࿚Їɚཧɚཧϋɤɚ˜ɧɤɓ˚˟ ʬࡈ˜ߒ62.3ϵຬಥʩf
ኋ၍ϗूɨࠥdΪમ՟ᘌࣸછՓϓ͉dҢࡁٙˣ лଟ͟࿚Їɚཧɓɘϋɤɚ˜ɧɤɓ˚˟ʬࡈ ˜ߒ37.2%ᄣ̋Ї࿚Їɚཧɚཧϋɤɚ˜ɧɤɓ ˚˟ʬࡈ˜ߒ38.1%fಂʫ๐л͟࿚Їɚཧɓɘ ϋɤɚ˜ɧɤɓ˚˟ʬࡈ˜ߒ28.0ϵຬಥʩჀฆ ήಯˇߒ 0.5 ϵຬಥʩЇ࿚Їɚཧɚཧϋɤɚ˜ ɧɤɓ˚˟ʬࡈ˜ߒ27.5ϵຬಥʩfॱлଟ͟࿚ Їɚཧɓɘϋɤɚ˜ɧɤɓ˚˟ʬࡈ˜ߒ15.7% ᄣ̋Ї࿚Їɚཧɚཧϋɤɚ˜ɧɤɓ˚˟ʬࡈ˜ ߒ16.8%f
ӊٰਿ͉ޮлމ5.74ಥ̀dϾɚཧɓɘϋΝಂӊ ٰਿ͉ޮлۆމ5.84ಥ̀f
MANAGEMENT DISCUSSION AND ANALYSIS 管理層討論及分析
BUSINESS UNIT OVERVIEW
The Group comprises five key business units.
Revenue contribution for the six months ended 31 December 2020
࿚Їɚཧɚཧϋɤɚ˜ɧɤɓ˚˟ʬࡈ˜ٙϗू্ᘠ
63.3%
Revenue contribution for the six months ended 31 December 2019
࿚Їɚཧɓɘϋɤɚ˜ɧɤɓ˚˟ʬࡈ˜ٙϗू্ᘠ
62.1%
Packaging printing
18.1%
10.6%
14.8%
13.6%
Packaging printing services cover, among others, corrugated boxes, gift boxes, card boxes and product boxes. For the six months ended 31 December 2020, revenue from packaging printing decreased by approximately 6.4% to approximately HK$103.6 million as compared to the same period in 2019. The decrease was mainly caused by effect of COVID-19 pandemic on the global retail markets. It was directly attributed to the drop in the demand on packaging boxes, such as the demand in the United States of America ("USA") and Hong Kong.
ุਕఊЗ฿ᚎ
͉ණྠ͟ʞࡈ˴ࠅุਕఊЗଡ଼ϓf
Package Printing 包裝印刷
Paper Gift Set Printing 紙禮品套裝印刷
Card Printing 彩咭牌印刷
Smart Package Printing 智能包裝印刷
Other Printing
其他印刷
6.1%
1.9%
Package Printing 包裝印刷
Paper Gift Set Printing 紙禮品套裝印刷
Card Printing 彩咭牌印刷
Smart Package Printing 智能包裝印刷
Other Printing
其他印刷
7.4%
2.1%
̍ༀΙՏ ̍ༀΙՏਕႊ€Չʕܼ͙̍ใଷeᓿۜଷe ̔ଷʿପۜଷf࿚Їɚཧɚཧϋɤɚ˜ɧɤɓ˚ ˟ʬࡈ˜dԸІ̍ༀΙՏٙϗूމߒ103.6ϵຬಥ ʩd༰ɚཧɓɘϋΝಂಯˇߒ6.4%fԸІ̍ༀΙ Տٙϗूಯˇ݊͟อۨڿًषݭޥઋΌଢɽݴ Б࿁Όଢཧਯ̹ఙٙᅂᚤdٜટ˿ߕʿ࠰ಥഃ ή࿁̍ༀଷٙცӋɨࠥf
MANAGEMENT DISCUSSION AND ANALYSIS 管理層討論及分析
BUSINESS UNIT OVERVIEW (Continued)
Paper gift set printing
Paper gift set printing services cover, among others, gift sets and game sets containing gift boxes, cards, booklets and hardback books. For the six months ended 31 December 2020, revenue from paper gift set printing increased by approximately 12.1% to approximately HK$29.6 million as compared to the same period in 2019. The increase in the revenue from paper gift set printing was benefited from their product cycles. Some customers have organized promotional sales, and there was increasing customers' orders accordingly.
Card printing
Card printing services cover, among others, colour cards, insert cards, warranty cards and plain cards. For the six months ended 31 December 2020, revenue from card printing decreased by approximately 28.1% to approximately HK$17.4 million as compared to the same period in 2019. The drop in revenue from card printing was mainly caused by continuous effect of COVID-19 pandemic and lockdown of some countries and cities. Furthermore, launch of some new card products was postponed, resulting in a decrease in the orders on card printing products consequently.
Smart package printing
Smart package printing services cover, among others, RFID labels and NFC tags, in order to provide value-added services to our existing and potential customers. For the six months ended 31 December 2020, revenue from smart package printing decreased by approximately 24.2% to approximately HK$10.0 million as compared to the same period in 2019. The decrease in revenue from smart package printing was generated from effect of the COVID-19 pandemic. It adversely affected global retail markets in many nations and cities, such as USA and Hong Kong, leading to a drop in the customers' orders in smart packing printing products.
ุਕఊЗ฿ᚎ€ᚃ ॷᓿۜࢁༀΙՏ ॷᓿۜࢁༀΙՏਕႊ€Չʕܼ̍ᓿۜࢁༀʿ ༷Ꮥࢁༀ࢙ॶᓿۜଷe̔˪eʃ̅ɿʿၚༀࣣf ࿚Їɚཧɚཧϋɤɚ˜ɧɤɓ˚˟ʬࡈ˜dԸІ ॷᓿۜࢁༀΙՏٙϗूމߒ29.6ϵຬಥʩd༰ɚ ཧɓɘϋΝಂᄣ̋ߒ12.1%fԸІॷᓿۜࢁༀΙ Տٙϗूᄣ̋˴ࠅ͟Չପۜಂʿ΅܄ɛᘪ ྌڮቖݺਗdڮϓһεॷᓿۜࢁༀΙՏʘࠈఊf
᩹ΙՏ ᩹ΙՏਕႊ€Չʕܼ̍Ѝ̔˪eౢ ࠫ̔˪eڭࡌ̔ʿͣ̔f࿚Їɚཧɚཧϋɤɚ ˜ɧɤɓ˚˟ʬࡈ˜dԸІ᩹ΙՏٙϗू މߒ 17.4 ϵຬಥʩd༰ɚཧɓɘϋΝಂಯˇߒ 28.1%fԸІ᩹ΙՏٙϗूಯˇ˴ࠅ͟อ ۨڿًषݭޥઋΌଢɽݴБٙܵᚃᅂᚤʿ΅ ʿ̹۬הમ՟ٙ܆ᕁણ݄fϤ̮d΅อ᩹ ᗫධͦ͵ַಂd௰ኬߧ᩹ପۜࠈఊ ࿁ಯˇf
౽ঐ̍ༀΙՏ ౽ঐ̍ༀΙՏਕႊ€Չʕܼ̍RFIDᅺᜀʿ NFC ᅺᜀdϙίމҢࡁٙତϞʿᆑί܄˒Զ ᄣ࠽ਕf࿚Їɚཧɚཧϋɤɚ˜ɧɤɓ˚˟ʬ ࡈ˜dԸІ౽ঐ̍ༀΙՏٙϗूމߒ10.0ϵຬಥ ʩd༰ɚཧɓɘϋΝಂಯˇߒ24.2%fԸІ౽ঐ ̍ༀΙՏٙϗूಯˇ˴ࠅ͟อۨڿًषݭޥઋ ΌଢɽݴБܵᚃᅂᚤεࡈʿήਜdܼ̍ߕ ʿ࠰ಥٙཧਯ̹ఙd܄˒ΪϤಯˇə౽ঐ̍ༀΙ Տପۜٙࠈఊf
MANAGEMENT DISCUSSION AND ANALYSIS 管理層討論及分析
BUSINESS UNIT OVERVIEW (Continued)
Other printing
Other printing services cover, among others, stickers, colour papers, yupo papers and red packets. For the six months ended 31 December 2020, revenue from other printing decreased by approximately 16.2% to approximately HK$3.1 million as compared to the same period in 2019. The decrease was mainly due to the increasing environmental awareness of some retail customers and some countries imposed more restrictive rules on plastic products.
ุਕఊЗ฿ᚎ€ᚃ Չ˼ΙՏ
Չ˼ΙՏਕႊ€Չʕܼ̍൨ॷeॷeΥϓ ॷʿл݊܆f࿚Їɚཧɚཧϋɤɚ˜ɧɤɓ˚˟ ʬࡈ˜dԸІՉ˼ΙՏٙϗूމߒ3.1ϵຬಥʩd ༰ɚཧɓɘϋΝಂಯˇߒ16.2%fԸІՉ˼ΙՏ ٙϗूಯˇ˴ࠅ͟΅ཧਯ܄˒৷ᐑڭจ ᗆd˸ʿ΅ྼ݄ၾོᎸಯˇԴ͜෧ᇭପۜ ʘһᘌᄒجf
OUTLOOK
The interim period 2020/2021 is expected to be challenging due to influence of COVID-19 pandemic and trade tension between USA and China. Furthermore, volatility of material costs, increase in labor costs, and imposition of various stringent environmental control required by different countries and cities on printing industry are posing additional challenges to the Group's business operations and growth in the foreseeable future.
ۃ౻
ᖟอۨڿًषݭɽݴБᅂᚤʿʕߕʘගٙ൱ ၡੵᗫڷdණྠཫࠇɚཧɚཧЇɚཧɚɓϋʕಂ ਗ਼̂တܿfϤ̮dࡡҿࣘϓ͉تਗe௶ʈϓ͉ ɪပʿ΅ʿήਜྼ݄ᗳᘌࣸᐑྤછՓ ֛d͵މ͉ණྠ͊Ըุٙਕᐄʿᄣڗ੭Ըᕘ̮ ܿf
MANAGEMENT DISCUSSION AND ANALYSIS 管理層討論及分析
OUTLOOK (Continued)
To manage the impacts of COVID-19 pandemic, the Group has taken several measures, such as providing face masks and hand sanitizers, strict measures on body temperature checking and maintaining the social distance inside the factory area, to secure the health and safety of our staffs and to ensure the smooth operation of the Group. Moreover, to cope with falling demand from our customers, and to maintain the market competitiveness of the Group, the management has adopted various steps to mitigate the Group's operational risk, such as a stringent control over our manufacturing costs in order to make our printing products to be more competitive in the market and be cautious on the pricing of our printing products. In addition, our Group is exploring opportunities on promotion of our smart package and sustainable products to our customers, which can differentiate ourselves from our competitors. With the Group's experienced management team and reputation in the printing industry, our management believes the Group is well-equipped to deal with the forthcoming challenges and to maintain sustainable growth.
ۃ౻€ᚃ މəᏐ࿁อۨڿًषݭޥઋΌଢɽݴБ੭Ըٙᅂ ᚤd͉ණྠʊમ՟ʔΝ˙ࣩ̘ڭღΝԫٙੰ ʿτΌԨᆽڭණྠٙᐄ༶නdܼ̍Զɹʿ ৢၚผ˓૰eᘌࣸٙᏨʿࠅӋࡰʈίᅀג ᇍఖڭܵቇٟٙʹ൷ᕎfϤ̮dމᏐ࿁܄˒ც ӋɨࠥdԨၪ͉ܵණྠ̹ٙఙᘩنɢd၍ଣᄴʊ મ՟εࡈӉ˸ಯˇ͉ණྠٙᐄ༶ࠬᎈdԷνһ ᘌࣸછՓႡிϓ͉˸̋੶ΙՏପ̹ۜٙఙᘩن ɢdΝࣛᄲฐމΙՏପ֛ۜᄆfϤ̮d͉ණྠɓ ٜيЍዚึΣ܄˒પᄿ౽ঐ̍ༀਕʿ̙ܵᚃ ପۜdϾԴҢࡁՉ˼Νุʕ߉ఖϾ̈fኯᔟ ͉ණྠ᜕ᔮబٙ၍ଣྠඟʿΙՏБุٙᑊ ᚑd၍ଣᄴڦ͉ණྠʊЪ̂ʱ௪d˸ࠦ࿁͊ ԸܿԨڭ̙ܵܵᚃᄣڗf
FINANCIAL REVIEW Revenue
The Group's revenue decreased by approximately 8.1% to approximately HK$163.7 million for the six months ended 31 December 2020 compared to approximately HK$178.2 million for the six months ended 31 December 2019. The decrease is inevitably caused by the global pandemic, which has weakened international retail markets. Some of our customers have prudently frozen or even reduced their budget on new projects till the pandemic is under control.
ৌਕΫᚥ ϗू ͉ණྠٙϗू༰࿚Їɚཧɓɘϋɤɚ˜ɧɤ˚˟ ʬࡈ˜ߒ178.2ϵຬಥʩಯˇߒ8.1%Ї࿚Їɚཧ ɚཧϋɤɚ˜ɧɤ˚˟ʬࡈ˜ߒ163.7ϵຬಥʩf ϗूಯˇɗ˴ࠅ͟อۨڿًषݭޥઋΌଢɽݴ Бdۂࢮəყཧਯ̹ఙf΅܄˒ʊڭςή ࡖഐא٫ಯЭอධͦٙཫၑdٜЇޥઋɽݴБա છf
Gross profit and gross profit margin
Gross profit decreased by approximately 5.9% from approximately HK$66.3 million for the six months ended 31 December 2019 to approximately HK$62.3 million for the six months ended 31 December 2020, as a result of drop in sales.
Despite the decrease in the sales, following the adoption of stringent cost control, our gross profit margin increased from approximately 37.2% during the six months ended 31 December 2019 to approximately 38.1% during the six months ended 31 December 2020.
ˣлʿˣлଟ ͟ϗूɨࠥdˣл͟࿚Їɚཧɓɘϋɤɚ˜ ɧɤɓ˚˟ʬࡈ˜ߒ66.3ϵຬಥʩಯˇߒ5.9%Ї ࿚Їɚཧɚཧϋɤɚ˜ɧɤɓ˚˟ʬࡈ˜ߒ62.3 ϵຬಥʩf ኋ၍ቖਯɨࠥdΪમ՟ᘌࣸછՓϓ͉dҢࡁٙˣ лଟ͟࿚Їɚཧɓɘϋɤɚ˜ɧɤɓ˚˟ʬࡈ˜ ߒ 37.2%ɪʺЇ࿚Їɚཧɚཧϋɤɚ˜ɧɤɓ˚ ˟ʬࡈ˜ߒ38.1%f
MANAGEMENT DISCUSSION AND ANALYSIS 管理層討論及分析
FINANCIAL REVIEW (Continued)
Administrative expenses
Administrative expenses remained relatively stable of approximately HK$29.4 million and HK$30.8 million for the six months ended 31 December 2020 and 2019.
ৌਕΫᚥ€ᚃ Б݁ක˕
Б݁ක˕࿚Їɚཧɚཧϋʿɚཧɓɘϋɤɚ˜ ɧɤɓ˚˟ʬࡈ˜ၪܵ࿁ᖢ֛ٙ˥̻dʱй މߒ29.4ϵຬಥʩʿߒ30.8ϵຬಥʩf
Selling and distribution expenses
Selling and distribution expenses was approximately HK$2.9 million and approximately HK$3.1 million to the six months ended 31 December 2020 and 2019 which mainly included salaries of salespeople and freight charges. Selling and distribution expenses decreased was mainly because of a drop in the sales made during the current period.
ቖਯʿʱቖක˕ ࿚Їɚཧɚཧϋʿɚཧɓɘϋɤɚ˜ɧɤɓ˚ ˟ʬࡈ˜dቖਯʿʱቖක˕ʱйމߒ2.9ϵຬಥʩ ʿߒ 3.1 ϵຬಥʩd˴ࠅܼ̍ᑚ༟ʿ༶፩൬͜f ቖਯʿʱቖක˕ಯˇɗ˴ࠅ͟ಂʫቖਯɨࠥה ߧf
Other operating income/(expenses), net
The Group recorded other operating expenses of approximately HK$0.1 million for the six months ended 31 December 2020 and other operating income of approximately HK$0.3 million for the same period in 2019. The turnaround from other operating income to other operating expenses for the six months ended 31 December 2020 was mainly due to the exchange loss arising from the appreciation of Renminbi against Hong Kong Dollars and loss arising from disposal of fixed assets during the six months ended 31 December 2020.
Չ˼ᐄϗɝŊ€ක˕ଋᕘ ࿚Їɚཧɓɘϋɤɚ˜ɧɤɓ˚˟ʬࡈ˜dՉ ˼ᐄϗɝމߒ 0.3 ϵຬಥʩdϾ࿚Їɚཧɚཧ ϋɤɚ˜ɧɤɓ˚˟ʬࡈ˜d͉ණྠՉ˼ ᐄක˕ߒ 0.1 ϵຬಥʩf͉ණྠ͟Չ˼ᐄϗɝ ᔷᜊމ࿚Їɚཧɚཧϋɤɚ˜ɧɤɓ˚˟ʬࡈ˜ ٙՉ˼ᐄක˕˴ࠅ͟࿚Їɚཧɚཧϋɤɚ˜ ɧɤɓ˚˟ʬࡈ˜ɛ͏࿆гಥʩʺ࠽Ͼପ͛ිг ᑦฦʿ̈ਯո֛༟ପϾପ͛ᑦฦf
Other income
Other income was approximately HK$1.8 million for the six months ended 31 December 2019 and decreased to approximately HK$1.6 million for the six months ended 31 December 2020. The decrease in amount was mainly due to a drop in the interest income generated from time deposits made during the current period.
Չ˼ϗɝ
Չ˼ϗɝ༰ɚཧɓɘϋΝಂߒ1.8ϵຬಥʩಯ ˇЇ࿚Їɚཧɚཧϋɤɚ˜ɧɤɓ˚˟ʬࡈ˜ߒ 1.6ϵຬಥʩfಯˇ˴ࠅ͟ಂʫהЪ֛ಂπಛପ ͛ٙлࢹϗɝಯˇf
Government grants
Government grants was approximately HK$2.6 million for the six months ended 31 December 2020, while there was no such balance for the six months ended 31 December 2019. The increase in amount was mainly due to an increase in the government grants obtained in both China and Hong Kong during the current period.
ִ݁п ࿚Їɚཧɚཧϋɤɚ˜ɧɤɓ˚˟ʬࡈ˜d݁ ִпމߒ2.6ϵຬಥʩdϾ࿚Їɚཧɓɘϋɤɚ ˜ɧɤɓ˚˟ʬࡈ˜d͉ණྠԨ͊ᗫִ݁ пfᄣ̋˴ࠅ͟ಂʫίʕʿ࠰ಥהϗ՟ٙ ִ݁пᄣ̋f
Income tax expenses
Income tax expenses increased by approximately HK$0.4 million from approximately HK$5.7 million for the six months ended 31 December 2019 to approximately HK$6.1 million for the six months ended 31 December 2020. The effective tax rates for the six months ended 31 December 2020 and 2019 are relatively stable at 18.2% and 16.8% respectively.
הක˕ הක˕͟࿚Їɚཧɓɘϋɤɚ˜ɧɤɓ˚˟ ʬࡈ˜ߒ5.7ϵຬಥʩᄣ̋ߒ0.4ϵຬಥʩЇ࿚Ї ɚཧɚཧϋɤɚ˜ɧɤɓ˚˟ʬࡈ˜ߒ6.1ϵຬಥ ʩf࿚Їɚཧɚཧϋʿɚཧɓɘϋɤɚ˜ɧɤɓ ˚˟ʬࡈ˜dྼყଟʱйމ18.2%ʿ16.8%f
MANAGEMENT DISCUSSION AND ANALYSIS 管理層討論及分析
FINANCIAL REVIEW (Continued)
Liquidity and capital resources
Our net assets amounted to approximately HK$341.2 million and approximately HK$323.1 million as at 31 December 2020 and 30 June 2020 respectively.
The Group derives its working capital mainly from cash and cash equivalents and net cash generated from operating activities. The directors expects that the Group will rely on the internally generated funds and unutilised net proceeds from the listing of the shares of the Company on The Stock Exchange of Hong Kong Limited on 16 November 2017, in the absence of unforeseen circumstances.
ৌਕΫᚥ€ᚃ ݴਗ༟ږʿ༟͉༟๕ ɚཧɚཧϋɤɚ˜ɧɤɓ˚ʿɚཧɚཧϋʬ˜ ɧɤ˚d༟ପଋ࠽ʱйމߒ 341.2 ϵຬಥʩʿߒ 323.1ϵຬಥʩf ͉ණྠᐄ༶༟ږ˴ࠅԸІତږʿତږഃᄆي˸ʿ ᐄݺਗהʘତږଋᕘfԫཫಂdίೌʔ̙ ཫԈʘઋرɨd͉ණྠਗ਼ቦʫପ͛ٙ༟ږʿ ͉ʮٰ̡΅ɚཧɓɖϋɤɓ˜ɤʬ˚ί࠰ಥᑌ ΥʹהϞࠢʮ̡ɪ̹ٙ͊ਗ͜הಛධଋᕘf
As at 31 December 2020, our cash and cash equivalents amounted to approximately HK$208.9 million (30 June 2020: approximately HK$204.1 million) and were mainly denominated in US Dollars and Renminbi; and our net current assets were approximately HK$225.7 million (30 June 2020: approximately HK$218.9 million). The current ratio, being current assets over current liabilities, remain relatively stable of approximately 3.9 times and 3.7 times as at 31 December 2020 and 30 June 2020, respectively.
ɚཧɚཧϋɤɚ˜ɧɤɓ˚dତږʿତږഃᄆ يߒމ208.9ϵຬಥʩ€ɚཧɚཧϋʬ˜ɧɤ˚j ߒ204.1ϵຬಥʩd˴ࠅ˸ߕʩʿɛ͏࿆ࠇ࠽d ϾҢࡁٙݴਗ༟ପଋ࠽ۆߒމ225.7ϵຬಥʩ€ɚ ཧɚཧϋʬ˜ɧɤ˚jߒ218.9ϵຬಥʩfɚ ཧɚཧϋɤɚ˜ɧɤɓ˚ʿɚཧɚཧϋʬ˜ɧɤ ˚dݴਗˢଟ€уݴਗ༟ପৰ˸ݴਗࠋවʱйߒ މ3.9࠴ʿߒމ3.7࠴f
As at 31 December 2020, the Group had approximately HK$208.9 million total cash and cash equivalents with no restricted cash. For the amount of cash and bank balances of HK$29.2 million, approximately HK$12.5 million was denominated in Hong Kong Dollars, approximately HK$9.1 million was denominated in US Dollars, and approximately HK$7.6 million was denominated in Renminbi. The Group's cash in US Dollars and Renminbi was held to support its core operational needs. In addition, the Group had approximately HK$179.7 million of fixed time deposits with maturity within 12 months. For the fixed time deposits, approximately HK$8.0 million was denominated in Hong Kong Dollars, approximately HK$89.1 million was denominated in US Dollars, and the remaining was denominated in Renminbi.
ɚཧɚཧϋɤɚ˜ɧɤɓ˚d͉ණྠତږʿତ ږഃᄆيᐼᕘߒމ 208.9 ϵຬಥʩdԨೌաࠢՓ ତږfЇତږʿვБഐቱ29.2ϵຬಥʩʕdߒ 12.5ϵຬಥʩɗ˸ಥʩࠇ࠽eߒ9.1ϵຬಥʩɗ˸ ߕʩࠇ࠽ʿߒ7.6ϵຬಥʩɗ˸ɛ͏࿆ࠇ࠽f͉ණ ྠܵϞ˸ߕʩʿɛ͏࿆ࠇ࠽ତږdͦٙ݊˕ܵՉ ࣨːᐄ༶ცࠅfϤ̮d͉ණྠɤɚࡈ˜ʫՑಂ ֛ٙಂπಛމߒ 179.7 ϵຬಥʩfఱ֛ಂπಛϾ Ԋdߒ8.0ϵຬಥʩɗ˸ಥʩࠇ࠽eߒ89.1ϵຬಥ ʩɗ˸ߕʩࠇ࠽dϾՉቱۆ˸ɛ͏࿆ࠇ࠽f
As at 31 December 2020 and 30 June 2020, the Group did not have any interest-bearing bank borrowings, and thus the computation of the gearing ratios were not applicable as at 31 December 2020 and 30 June 2020.
During the period, the Group recorded over HK$2.0 million in capital expenditure, which was mostly deployed for automation and equipment upgrades.
ɚཧɚཧϋɤɚ˜ɧɤɓ˚ʿɚཧɚཧϋʬ˜ ɧɤ˚d͉ණྠԨೌОࠇࢹვБ࠾ಛdΪϤ ɚཧɚཧϋɤɚ˜ɧɤɓ˚ʿɚཧɚཧϋʬ˜ ɧɤ˚༟ପࠋවˢଟʘࠇၑԨʔቇ͜f ಂʫd͉ණྠགྷ2.0ϵຬಥʩٙ༟͉ක˕d˴ ࠅሜৣЪІਗʷʿண௪ʺॴf
MANAGEMENT DISCUSSION AND ANALYSIS 管理層討論及分析
CONTINGENT LIABILITIES AND PLEDGE OF ASSETS
The Group did not have any material contingent liabilities and did not pledge any assets as at 31 December 2020 and 30 June 2020.
א್ࠋවʿ༟ପתץ
ɚཧɚཧϋɤɚ˜ɧɤɓ˚ʿɚཧɚཧϋʬ˜ ɧɤ˚d͉ණྠԨೌОࠠɽא್ࠋවd͵ೌת ץО༟ପf
EVENT AFTER THE REPORTING PERIOD
The Group does not have other significant events after the reporting period up to the date of this report.
జѓಂܝԫධ
జѓಂܝٜЇ͉జѓ˚ಂd͉ණྠԨೌՉ˼ࠠ ɽԫධf
OUR EMPLOYEES AND REMUNERATION POLICIES
As at 31 December 2020, we had 690 employees in Hong Kong and the Mainland China. During the peak season namely from June to September for each year, in order to maximise our production capacity, we expand our employees for production, who are principally responsible for certain post-press processes and packaging which have to be done manually and cannot otherwise be achieved by automatic machines.
྇ࡰʿᑚཇ݁ഄ
ɚཧɚཧϋɤɚ˜ɧɤɓ˚dҢࡁ࠰ಥʿ ʕʫήኹϞ 690 Τ྇ࡰfӊϋ֙€уʬ˜Ї ɘ˜ಂගdމးඎᓒɽପঐdҢࡁᄣ̋͛ପ྇ ࡰd˴ࠅࠋப߰ʍΙܝ̋ʈʈҏʿ̍ༀd༈ഃʈ ҏɛʈආБdʔঐ˸Іਗʷዚ՟ಁf
Our direct labour cost, including salaries, bonuses and other employee's benefits, amounted to approximately HK$14.4 million and approximately HK$15.9 million for the six months ended 31 December 2020 and 2019, respectively. Remuneration packages are generally structured by reference to market terms and individual qualifications. Salaries and wages are normally reviewed annually based on performance appraisals and other relevant factors.
࿚Їɚཧɚཧϋʿɚཧɓɘϋɤɚ˜ɧɤɓ˚˟ ʬࡈ˜dҢࡁٜٙટ௶ʈϓ͉€ܼ̍ᑚږeڀߎ ʿՉ˼྇ࡰ၅лʱй༺ߒ14.4ϵຬಥʩʿߒ15.9 ϵຬಥʩfᑚཇܙ༾ɓছਞϽ̹ఙૢಛʿࡈɛ༟ ዝϾᔾ֛fᑚږʿʈ༟ɓছܲᐶࣖ൙ПʿՉ˼ ᗫΪ९ϾӊϋᏨীf
DIVIDEND
The Directors recommend an interim dividend of HK1.5 cents per share (2019: HK1 cent) in cash. The proposed dividend is expected to be distributed on Thursday, 18 March 2021 to shareholders whose names appear on the Register of Members of the Company on Tuesday, 9 March 2021.
ٰࢹ
ԫܔᙄ˸ତږݼ˹ʕಂٰࢹӊٰ1.5ಥ̀€ɚཧ ɓɘϋj1ಥ̀fܔᙄٰࢹཫಂਗ਼ɚཧɚɓϋ ɧ˜ɤɞ˚€ಂ̬ʱݼʚɚཧɚɓϋɧ˜ɘ˚ €ಂɚΤΐί͉ʮٰ̡ٙ؇Τ̅ɪʘٰ؇f
CLOSURE OF REGISTER OF MEMBERS
The Register of Members of the Company will be closed from Friday, 5 March 2021 to Tuesday, 9 March 2021, both days inclusive, during which period no transfer of shares will be registered. In order to qualify for the proposed interim dividend, all transfer of shares accompanied by the relevant share certificates must be lodged with the Company's Share Registrar, Tricor Investor Services Limited, at Level 54, Hopewell Centre, 183 Queen's Road East, Hong Kong, not later than 4:30 p.m., on Thursday, 4 March 2021.
ᅲ৾፬ଣٰ΅ཀ˒೮া
͉ʮ̡ਗ਼ɚཧɚɓϋɧ˜ʞ˚€ಂʞЇɚ ཧɚɓϋɧ˜ɘ˚€ಂɚ€ܼ̍҈Շ˚ᅲ ৾፬ଣٰ΅ཀ˒೮া˓ᚃdಂගਗ਼ʔึ፬ଣО ٰ΅ཀ˒೮া˓ᚃfމୌΥᐏ՟ܔᙄʕಂٰࢹٙ ༟ࣸdהϞཀ˒˖ஹΝϞᗫٰୃd̀ɚཧ ɚɓϋɧ˜̬˚€ಂ̬ɨʹ̬ࣛɧɤʱۃd ʹ͉ʮٰ̡΅ཀ˒೮াஈՙԳᗇՎ೮াϞࠢʮ ̡dήѧމ࠰ಥެΧɽ༸؇183Υձʕː54ᅽf
MANAGEMENT DISCUSSION AND ANALYSIS 管理層討論及分析
USE OF PROCEEDS
Net proceeds from the initial public offering were HK$124.0 million after deducting all the direct costs associated with the Listing.
Up to the date of this report, the Group had used approximately HK$44.1 million for equipment upgrades on the improvement of the production process, approximately HK$8.3 million for general working capital and approximately HK$0.7 million for the consultation of the upgrade of enterprise resources planning ("ERP") system. During the period, the net proceed, have been used for the purpose consistent with the section headed "Future Plan and Use of Proceeds" as set out in the prospectus of the Company dated 2 November 2017 (the "Prospectus").
הಛධ͜
ϔৰၾɪ̹ϞᗫٙהϞٜટϓ͉ܝdϣʮක೯ ਯהಛධଋᕘމ124.0ϵຬಥʩf ͉జѓ˚ಂd͉ණྠʊԴ͜ߒ44.1ϵຬಥʩe ߒ 8.3ϵຬಥʩʿߒ0.7ϵຬಥʩʱй͜ҷഛ͛ ପʈҏʘண௪ʺॴeɓছᐄ༶༟ږʿʺॴΆุ༟ ๕ྌ€˜ERP™ӻ୕ٙፔ༔fಂʫdהಛධଋ ᕘʊܲၾ͉ʮ̡˚ಂމɚཧɓɖϋɤɓ˜ɚ˚ٙ םٰ€˜םٰ™ה༱˜͊Ըࠇྌʿהಛ ධ͜™ɓືୌٙ͜ਗ͜f
Details of the allocation of the net proceeds, and the utilisation of the net proceeds up to the date of this report are set out below:
͉జѓ˚ಂdהಛධଋᕘٙʱৣ༉ઋ˸ʿה ಛධଋᕘٙਗ͜ઋر༱ΐνɨj
Actual usageUnutilised netup to proceeds up toIntended application of the net proceeds
הಛධଋᕘٙᏝ֛͜
Purchase four presses by stages (Note 1)
ʱචݬᒅໄ̨̬ΙՏዚ€ڝൗ1
Relocate Shenzhen Factory (Note 2)
ยቋଉέᅀג€ڝൗ2
Upgrade ERP system (Note 3)
ʺॴERPӻ୕€ڝൗ3
General working capital ɓছᐄ༶༟ږ
Percentage of total proceeds
Цהಛධ
ᐼᕘٙ
ϵʱˢ %
65.0
25.0
3.3
6.7
Total ᐼࠇ
100.0
Planned applications
ࠇྌ͜ઋر
HK$ in million ϵຬಥʩ
80.6
31.0
4.1
8.3
124.0
the date of this report
࿚Ї͉జѓ ˚ಂٙ ྼყԴ͜ઋر
HK$ in million ϵຬಥʩ
44.1
-
0.7
8.3
53.1
the date of this report ͉జѓ ˚ಂٙ ͊ਗ͜ږᕘ
Expected timeline for utilising the Unutilised Net Proceeds
͊ਗ͜הಛධଋᕘٙ ཫಂԴࣛ͜ගڌ
HK$ in million ϵຬಥʩ
36.5 Expected to be fully utilised on or before 31 December 2022
ཫಂɚཧɚɚϋ
ɤɚ˜ɧɤɓ˚אʘۃ
ᅰਗ͜
31.0 Expected to be fully utilised on or before 31 March 2022
ཫಂɚཧɚɚϋ
ɧ˜ɧɤɓ˚אʘۃ
ᅰਗ͜
3.4 Expected to be fully utilised on or before 31 December 2022
ཫಂɚཧɚɚϋ
ɤɚ˜ɧɤɓ˚אʘۃ
ᅰਗ͜
-
N/A ʔቇ͜
70.9
MANAGEMENT DISCUSSION AND ANALYSIS 管理層討論及分析
USE OF PROCEEDS (Continued)
Note 1: The Group has delayed the plan of relocation of the Shenzhen
Factory as stated in Note 2 below, and hence we have also deferred the progress of purchasing Four Presses by stages. We have kept searching for upgrade of our machines in the market and utilised the relevant proceeds from the initial public offering of approximately HK$44.1 million up to the date of this report for purchase of press and related machines to improve the overall production efficiency. As we are undergoing the relocation plan to the new factory, we expect to fully utilise the relevant proceeds on or before 31 December 2022.
הಛධ͜€ᚃ ڝൗ1j ͉ණྠʊપ፰ɨ˖ڝൗ 2ה༱ٙଉέᅀגยቋ ࠇྌdΪϤҢࡁ͵ʊַ፰ʱචݬᒅໄ̨̬ΙՏ ዚfҢࡁɓٜί̹ఙరӋ˙όʺॴҢࡁٙዚ d˲࿚Ї͉జѓ˚ಂdҢࡁʊਗ͜ϣʮක ೯ਯᗫהಛධߒ44.1ϵຬಥʩᒅ൯ΙՏዚ ʿᗫዚd˸ʺ͛ପࣖଟf͟Ңࡁ ͍ίආБቋЇอᅀגٙยቋࠇྌdҢࡁཫಂਗ਼ ɚཧɚɚϋɤɚ˜ɧɤɓ˚אʘۃᅰਗ͜ ᗫהಛධf
Note 2: With reference to the "Voluntary Announcement - Business
Updates" dated 6 September 2019, the Group has entered into a Cooperation Framework Agreement to develop and construct a factory, office building, staff dormitory and utilities (the "New Properties") on a piece of self-owned industrial land by an independent third party located in Huizhou City. To the best knowledge of the Directors, it is expected the practical completion of the New Properties will be in August 2021. The existing tenancy agreement of the Shenzhen factory will be expired in March 2022. Hence, we expect to fully utilise the relevant proceeds on or before 31 March 2022.
ڝൗ2j ༐ν˚ಂމɚཧɓɘϋɘ˜ʬ˚ٙ˜ІᗴʮбÑ ุਕ௰อऊࢹ™ה༱d͉ණྠʊࠈͭΥЪ࣪ݖ ᙄd˸ɓషЗψ̹ٙዹͭୋɧ˙ІϞʈ ุ͜ή೯࢝ʿܔணᅀגe፬ʮᅽeࡰʈٸʿ ண݄€˜อيุ™fኽԫהଉٝdཫಂอيุ ٙྼყംʈࣛගਗ਼މɚཧɚɓϋɞ˜fଉέᅀ גٙତϞॡ༣ᙄਗ਼ɚཧɚɚϋɧ˜Ցಂf ΪϤdҢࡁཫಂਗ਼ɚཧɚɚϋɧ˜ɧɤɓ˚ אʘۃᅰਗ͜ᗫהಛධf
Note 3: As we cannot locate the service provider with the relevant experience in printing industry, we have delayed the progress of updating our ERP system. We have already utilised HK$0.2 million to an independent third party consultant to evaluate our existing ERP system, and we are searching for the suitable service provider. During the current period, the Group has entered into agreements with independent third party ERP service providers to update our system. Up to the date of this report, we have already utilised HK$0.5 million to the service providers for the update of our ERP system. Given we have commenced to update our ERP system, we expect to fully utilise the relevant proceeds on or before 31 December 2022.
ڝൗ3j ͟Ңࡁ֠͊يЍՑՈϞΙՏБุᗫ᜕ٙ ਕԶᏐਠdΪϤҢࡁʊપ፰һอҢࡁٙERP ӻ୕fҢࡁʊਗ͜0.2ϵຬಥʩ໌ሗɓΤዹͭୋ ɧ˙ᚥਪ൙ПҢࡁତϞٙERPӻ୕d˲Ңࡁ͍ ίيЍΥቇٙਕԶᏐਠfಂʫd͉ණྠၾዹ ͭୋɧ˙ਕԶᏐਠࠈͭəᙄ̘һอҢࡁٙ ӻ୕f࿚Ї͉జѓ˚ಂdҢࡁʊਗ͜ߒ0.5ϵຬ ಥʩഗʚவਕԶᏐਠ̘һอӻ୕fᛠҢࡁ ʊකһอҢࡁٙERPӻ୕dҢࡁཫಂਗ਼ɚ ཧɚɚϋɤɚ˜ɧɤɓ˚אʘۃᅰਗ͜ᗫ הಛධf
On 10 January 2017, the Group have entered into a legally binding memorandum of understanding (the¨MOU©) with an independent third party (the¨New Landlord©). Pursuant to the MOU, we have the right to lease, and the New Landlord shall lease to us, for three years (with an option to renew granted for us for further three years), some of the area as our new plant (the¨New Plant©) within the piece of land located at Xiagang Community, Dongguan City, Guangdong Province, the PRC (ʕ ശɛ͏ձᄿ؇؇୷̹ข੪ٟਜ) for industrial use.
However, the New Landlord has sold the land together with the New Plant to an independent third party, and hence there is a delay for the relocation plan and the Group may not be able to relocate the factory as originally scheduled as mentioned in the section headed "Future Plans and Use of Proceeds" in the Prospectus. Please refer to the "Voluntary Announcement - Business Updates" dated 11 July 2018 for details.
ɚཧɓɖϋɓ˜ɤ˚d͉ණྠၾɓΤዹͭୋɧ ˙€˜อุ˴™ࠈͭɓ΅ՈجܛߒҼɢٙሓ༆௪ҙ €˜ሓ༆௪ҙ™f࣬ኽሓ༆௪ҙdҢࡁϞᛆ ॡ͜Ͼอุ˴ਗ਼ΣҢࡁ̈ॡЗʕശɛ͏ձ ᄿ؇؇୷̹ข੪ٟਜٙʈุ͜ɺήʕٙʱ ࠦጐЪމҢࡁٙอᅀג€˜อᅀג™dމಂɧϋ €Ңࡁ̙፯ආɓӉᚃಂɧϋf
್Ͼdอุ˴ʊΣɓΤዹͭୋɧ˙̈ਯ༈షɺή ஹΝอᅀגdยቋࠇྌΪϾַႬd͉ණྠ͊̀ঐ ܲםٰ˜͊Ըࠇྌʿהಛධ͜™ɓ ືהࠑࡡ֛ࠇྌยቋᅀגf༉ઋሗਞቡ˚ಂމɚ ཧɓɞϋɖ˜ɤɓ˚ٙ˜Іᗴʮб-ุਕ௰อऊ ࢹ™f
MANAGEMENT DISCUSSION AND ANALYSIS 管理層討論及分析
USE OF PROCEEDS (Continued)
On 3 June 2019, the Group entered into a cooperation framework agreement (the "Cooperation Framework Agreement") in relation to the leasing and relocation of the Group's Shenzhen Factory to the new plant.
הಛධ͜€ᚃ ɚཧɓɘϋʬ˜ɧ˚d͉ණྠఱॡ༣ʿਗ਼͉ණ ྠٙଉέᅀגቋЇอᅀגࠈͭΥЪ࣪ݖᙄ€˜Υ Ъ࣪ݖᙄ™f
According to the Cooperation Framework Agreement, an Independent Third Party (the "Developer") shall develop and construct factory, office building, staff dormitory and utilities (the "New Properties") on a piece of self-owned industrial land located in Huizhou City (ψ̹) in the PRC.
࣬ኽΥЪ࣪ݖᙄdɓΤዹͭୋɧ˙€˜೯࢝ਠ™ ਗ਼ɓషЗʕψ̹ٙІϞʈุ͜ή೯࢝ ʿܔணᅀגe፬ʮᅽeࡰʈٸʿண݄€˜อي ุ™f
To the best knowledge of the Directors, it is expected that the negotiating, finalising and signing of the Tenancy Agreement would take place by the fourth quarter of 2021, a separate Tenancy Agreement to lease the New Properties shall be entered into between the Developer and the Group after negotiation and obtaining the approval from the relevant PRC authorities.
ኽԫהଉٝdཫಂਗ਼ɚཧɚɓϋୋ̬֙ܓᆻ ਠeໝྼʿᖦॡ༣ᙄdϾ೯࢝ਠၾ͉ණྠ ᆻਠʿІᗫʕዚᗫ՟ҭࡘܝਗ਼̤Бࠈͭॡ ༣ᙄf
The Company will make further announcement(s), as and when appropriate, in relation to the status of the construction and leasing of the New Properties, the Cooperation Framework Agreement and the relocation plan of the Group in accordance with the Listing Rules. Please refer to the "Voluntary Announcement - Business Updates" dated 6 September 2019 for details.
͉ʮ̡ਗ਼࣬ኽɪ̹ۆቇࣛఱܔிʿॡ༣อيุ ًٙرeΥЪ࣪ݖᙄʿ͉ණྠٙยቋࠇྌ̤Б ̊೯ʮбf༉ઋሗਞቡ˚ಂމɚཧɓɘϋɘ˜ʬ ˚ٙ˜ІᗴʮбÑุਕ௰อऊࢹ™f
The Board of the Company are pleased to announce the unaudited interim condensed consolidated results of the Group for the six months ended 31 December 2020 as follows:
͉ʮ̡ԫึ್ؚʮб͉ණྠ࿚˟ɚཧɚཧϋ ɤɚ˜ɧɤɓ˚˟ʬࡈ˜ʘ͊ᄲࣨʕಂᔊၝ Υุᐶνɨj
CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS ᔊၝΥฦूڌ
For the six months ended
31 December
࿚Їɤɚ˜ɧɤɓ˚˟ʬࡈ˜
2020 | 2019 | |||
ɚཧɚཧϋ | ɚཧɓɘϋ | |||
(Unaudited) | (Unaudited) | |||
€͊ᄲࣨ | €͊ᄲࣨ | |||
Notes | HK$'000 | HK$'000 | ||
ڝൗ | ɷಥʩ | ɷಥʩ | ||
REVENUE | ϗू | 3&4 | 163,739 | 178,190 |
Cost of sales | ቖਯϓ͉ | (101,391) | (111,925) | |
Gross profit | ˣл | 62,348 | 66,265 | |
Other income | Չ˼ϗɝ | 4 | 1,646 | 1,847 |
Selling and distribution expenses | ቖਯʿʱቖක˕ | (2,855) | (3,073) | |
Administrative expenses | Б݁ක˕ | (29,433) | (30,807) | |
Other operating | Չ˼ᐄϗɝŊ€ක˕ଋᕘ | |||
income/(expenses), net | (128) | 330 | ||
Finance costs | ፄ༟ϓ͉ | 5 | (519) | (881) |
Government grants | ִ݁п | 2,582 | - | |
PROFIT BEFORE TAX | ৰۃ๐л | 6 | 33,641 | 33,681 |
Income tax expense | הක˕ | 7 | (6,111) | (5,664) |
PROFIT FOR THE PERIOD | ಂʫ๐л | 27,530 | 28,017 | |
EARNINGS PER SHARE | ͉ʮٰ̡ᛆܵϞɛ | |||
ATTRIBUTABLE TO EQUITY | ᏐЦӊٰޮл | HK cents | HK cents | |
HOLDERS OF THE COMPANY | 8 | ಥ̀ | ಥ̀ | |
Basic and diluted | ਿ͉ʿᛅᑛ | 5.74 | 5.84 |
CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME 簡明綜合全面收益表
For the six months ended
31 December
࿚Їɤɚ˜ɧɤɓ˚˟ʬࡈ˜
PROFIT FOR THE PERIOD
OTHER COMPREHENSIVE
INCOME/(LOSS)
Other comprehensive income/(loss) that may be reclassified to profit or loss in subsequent periods:
Exchange differences on translation of foreign operations
OTHER COMPREHENSIVE INCOME/
(LOSS) FOR THE PERIOD, NET OF TAX
TOTAL COMPREHENSIVE INCOME
FOR THE PERIOD ATTRIBUTABLE TO OWNERS OF THE COMPANY
FINANCIAL POSITION 簡明綜合財務狀況表
31 December | 30 June | |||
2020 | 2020 | |||
ɚཧɚཧϋ | ɚཧɚཧϋ | |||
ɤɚ˜ɧɤɓ˚ | ʬ˜ɧɤ˚ | |||
(Unaudited) | (Audited) | |||
€͊ᄲࣨ | €ᄲࣨ | |||
Notes | HK$'000 | HK$'000 | ||
ڝൗ | ɷಥʩ | ɷಥʩ | ||
NON-CURRENT ASSETS | ڢݴਗ༟ପ | |||
Property, plant and equipment | يุeᅀגʿண௪ | 10 | 62,772 | 60,625 |
Right-of-use assets | Դ͜ᛆ༟ପ | 13,470 | 17,789 | |
Intangible asset | ೌҖ༟ପ | 2,700 | 2,700 | |
Financial asset at fair value through | ܲʮ̻ᄆ࠽ࠇɝฦूٙ | |||
profit or loss | ږፄ༟ପ | 11 | 10,030 | 10,039 |
Prepayments and deposits | ཫ˹ಛධʿܲږ | 25,699 | 17,181 | |
Deferred tax assets | ַධ༟ପ | 3,557 | 3,773 | |
Total non-current assets | ڢݴਗ༟ପᐼ࠽ | 118,228 | 112,107 | |
CURRENT ASSETS | ݴਗ༟ପ | |||
Inventories | π | 27,936 | 24,385 | |
Trade receivables | ൱Ꮠϗಛධ | 12 | 58,621 | 61,922 |
Prepayments, deposits and other | ཫ˹ಛධeܲږʿՉ˼ | |||
receivables | Ꮠϗಛධ | 8,746 | 8,293 | |
Cash and cash equivalents | ତږʿତږഃᄆي | 13 | 208,881 | 204,120 |
Total current assets | ݴਗ༟ପᐼ࠽ | 304,184 | 298,720 | |
CURRENT LIABILITIES | ݴਗࠋව | |||
Trade payables | ൱Ꮠ˹ಛධ | 14 | 16,003 | 15,950 |
Other payables and accruals | Չ˼Ꮠ˹ಛධʿᏐࠇ൬͜ | 32,454 | 31,024 | |
Lease liabilities | ॡ༣ࠋව | 11,385 | 11,422 | |
Tax payable | Ꮠ˹ධ | 18,615 | 21,393 | |
Total current liabilities | ݴਗࠋවᐼᕘ | 78,457 | 79,789 | |
NET CURRENT ASSETS | ݴਗ༟ପଋ࠽ | 225,727 | 218,931 | |
TOTAL ASSETS LESS CURRENT | ༟ପᐼ࠽ಯݴਗࠋව | |||
LIABILITIES | 343,955 | 331,038 | ||
NON-CURRENT LIABILITIES | ڢݴਗࠋව | |||
Lease liabilities | ॡ༣ࠋව | 2,709 | 7,853 | |
Deferred tax liability | ַධࠋව | 68 | 68 | |
Total non-current liabilities | ڢݴਗࠋවᐼᕘ | 2,777 | 7,921 | |
Net assets | ༟ପଋ࠽ | 341,178 | 323,117 | |
EQUITY | ᛆू | |||
Equity attributable to owners | ͉ʮ̡ኹϞɛ | |||
of the Company | ᏐЦᛆू | |||
Share capital | ٰ͉ | 4,800 | 4,800 | |
Reserves | Ꮇ௪ | 336,378 | 318,317 | |
Total equity | ᛆूᐼᕘ | 341,178 | 323,117 |
CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY 簡明綜合權益變動表
For the six months ended 31 December 2020 (Unaudited)
Share capital
࿚Їɚཧɚཧϋɤɚ˜ɧɤɓ˚˟ʬࡈ˜€͊ᄲࣨ
Share premiumExchange
ٰ͉
Other reserveRetained profitsfluctuation reserve ිгتਗ Ꮇ௪
Total equity
ٰ΅๐ᄆ
Չ˼Ꮇ௪
ڭव๐л
ᛆूᐼᕘ
Notes ڝൗ
HK$'000 ɷಥʩ
HK$'000 ɷಥʩ
HK$'000 ɷಥʩ
HK$'000 ɷಥʩ
HK$'000 ɷಥʩ
HK$'000 ɷಥʩ
Other comprehensive income for the period:
At 1 July 2020 (audited)Profit for the period
Exchange differences on translation of foreign operations
Total comprehensive income for the period
Final dividend for 2020 declared
At 31 December 2020
(unaudited)
At 1 July 2019 (audited)Profit for the period Other comprehensive loss for the period: Exchange differences on translation of foreign operations
Total comprehensive income for the period
Final dividend for 2019 declared
At 31 December 2019
(unaudited)
ɚཧɚཧϋɖ˜ɓ˚ €ᄲࣨ ಂʫ๐л ಂʫՉ˼Όࠦϗूj
౬ၑऎุ̮ਕٙ ිгࢨᕘ
ಂʫΌࠦϗूᐼᕘ
ɚཧɚཧϋ͋ಂٰࢹ܁ݼ ɚཧɚཧϋ ɤɚ˜ɧɤɓ˚ €͊ᄲࣨ ɚཧɓɘϋɖ˜ɓ˚ €ᄲࣨ ಂʫ๐л ಂʫՉ˼Όࠦᑦฦj
౬ၑऎุ̮ਕٙ ිгࢨᕘ
ಂʫΌࠦϗूᐼᕘ
ɚཧɓɘϋ͋ಂٰࢹ܁ݼ ɚཧɓɘϋ ɤɚ˜ɧɤɓ˚ €͊ᄲࣨ
4,800
479,712*
(328,049)*
166,812*
(158)*
323,117
-
-
-
27,530
- 27,530
-
-
-
-
7,331 7,331
9
- -
- -
- -
27,530 (16,800)
7,331 -
34,861 (16,800)
4,800
479,712*
(328,049)*
177,542*
7,173*
341,178
4,800
479,712
(328,049)
138,759
3,992
299,214
-
-
-
28,017
-
28,017
-
-
-
-
(7,561)
(7,561)
9
- -
- -
- -
28,017 (12,000)
(7,561)
-
20,456 (12,000)
4,800
479,712
(328,049)
154,776
(3,569)
307,670
*These reserve accounts comprise of the consolidated reserves of HK$336,378,000 and HK$318,317,000 in the condensed consolidated statement of financial position as at 31 December 2020 and 30 June 2020, respectively.
*
༈ഃᎷ௪ሪܼ̍ɚཧɚཧϋɤɚ˜ɧɤɓ˚ ʿɚཧɚཧϋʬ˜ɧɤ˚ٙᔊၝΥৌਕً رڌʫٙၝΥᎷ௪ʱйމ 336,378,000 ಥʩʿ 318,317,000ಥʩf
CASH FLOWS 簡明綜合現金流量表
For the six months ended
31 December
࿚Їɤɚ˜ɧɤɓ˚˟ʬࡈ˜
2020 | 2019 | ||
ɚཧɚཧϋ | ɚཧɓɘϋ | ||
(Unaudited) | (Unaudited) | ||
€͊ᄲࣨ | €͊ᄲࣨ | ||
HK$'000 | HK$'000 | ||
ɷಥʩ | ɷಥʩ | ||
33,641 | 33,681 | ||
(1,101) | (1,601) | ||
519 | 881 | ||
113 | 33 | ||
4,408 | 3,845 | ||
5,542 | 5,747 | ||
9 | - | ||
43,131 | 42,586 | ||
Decrease/(increase) in inventories | πಯˇŊ€ᄣ̋ | (1,437) | 3,294 |
Decrease in trade receivables | ൱Ꮠϗಛධಯˇ | 3,678 | 3,824 |
Decrease/(increase) in prepayments, | ཫ˹ಛධeܲږʿՉ˼Ꮠϗ | ||
deposits and other receivables | ಛධಯˇŊ€ᄣ̋ | (7,001) | 290 |
Increase/(decrease) in trade payables | ൱Ꮠ˹ಛධᄣ̋Ŋ€ಯˇ | (709) | 1,464 |
Increase in other payables | Չ˼Ꮠ˹ಛධʿᏐࠇ൬͜ | ||
and accruals | ᄣ̋ | 420 | 3,125 |
Cash generated from operations | ᐄהତږ | 38,082 | 54,583 |
Interest paid | ʊ˹лࢹ | (519) | (881) |
Hong Kong profits tax paid | ʊ˹࠰ಥл | (8,508) | - |
Overseas taxes paid | ʊ˹ऎ̮ධ | (862) | (980) |
Net cash flows from | ᐄݺਗה | ||
operating activities | ତږݴଋᕘ | 28,193 | 52,722 |
CASH FLOWS FORM INVESTING | ҳ༟ݺਗהତږݴ | ||
ACTIVITIES | |||
Interest received | ʊϗлࢹ | 1,101 | 1,610 |
Purchases of items of property, | ᒅໄيุeᅀגʿண௪ධͦ | ||
plant and equipment | (1,985) | (13,059) | |
Proceeds from disposal of items of | ̈ਯيุeᅀגʿண௪ධͦٙ | ||
property, plant and equipment | הಛධ | 102 | - |
Decrease in restricted cash | աࠢՓତږಯˇ | - | 11,402 |
Net cash flows used in investing | ҳ༟ݺਗה͜ତږ | ||
activities | ݴଋᕘ | (782) | (47) |
Notes ڝൗ
CASH FLOWS FROM OPERATION
ACTIVITIES
Profit before tax Adjustments for:
Interest income
Finance costs
ᐄݺਗהତږݴ
ৰۃ๐л ఱ˸ɨධהЪሜj
лࢹϗɝ 4
ፄ༟ϓ͉ 5
Loss on disposal of items of property, ̈ਯيุeᅀגʿண௪ධͦ
plant and equipment Depreciation of property, plant and
ٙᑦฦ 6 يุeᅀגʿண௪ʘұᔚ
equipment 6
Depreciation of right-of-use assets Fair value loss on a financial asset at fair value through profit or loss
Դ͜ᛆ༟ପʘұᔚ 6 ܲʮ̻࠽ீཀฦूɝሪٙ
ږፄ༟ପʘʮ̻ᄆᑦฦ 6
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS 簡明綜合現金流量表
For the six months ended
31 December
࿚Їɤɚ˜ɧɤɓ˚˟ʬࡈ˜
Principal portion of lease payments Dividend paid
CASH FLOWS FROM FINANCING
ACTIVITIES
Net cash flows used in financing activities
NET INCREASE IN CASH AND
CASH EQUIVALENTS
Cash and cash equivalents at beginning of period
Effect of foreign exchange rate changes, net
CASH AND CASH EQUIVALENTS
AT THE END OF PERIOD
ANALYSIS OF BALANCES OF
CASH AND CASH EQUIVALENTS Cash and bank balances Non-pledged time deposits and wealth management products with original maturity of less than three months when acquired
Cash and cash equivalents as stated in the condensed consolidated statement of cash flows and condensed consolidated statement of financial position
ፄ༟ݺਗהତږݴ
ॡ༣൬͜ʘ͉ږ΅ ʊ˹ٰࢹ ፄ༟ݺਗה͜ତږݴଋᕘ
ତږʿତږഃᄆيᄣ̋ଋᕘ
ಂڋٙତږʿତږഃᄆي ̮ිිଟᜊਗᅂᚤଋᕘ
ಂ͋ٙତږʿତږഃᄆي ତږʿତږഃᄆيഐቱʱؓ
ତږʿვБഐቱ ᒅ൯ࣛࡡϞՑಂ˚ˇ ɧࡈ˜ٙೌתץ֛ಂπಛ ʿଣৌପۜ
ᔊၝΥତږݴඎڌʿ ᔊၝΥৌਕًرڌהͪٙ ତږʿତږഃᄆي
Notes ڝൗ
9
(6,403) (5,103)
2019 ɚཧɓɘϋ
(Unaudited)
€͊ᄲࣨ
HK$'000 ɷಥʩ
(16,800) (12,000)
(23,203) (17,103)
4,208 35,572
204,120 174,651
(294)
209,929
29,208 26,802
179,673 183,127
209,929
1. CORPORATION AND GROUP | 1. | ʮ̡ʿණྠ༟ࣘ |
INFORMATION | ||
The Company is a limited liability company incorporated | ͉ʮ̡މɓගίකਟ໊ࢥൗ̅ϓͭٙϞࠢ | |
in the Cayman Islands. The registered address of the | ʮ̡f͉ʮ̡ٙൗ̅ήѧމP.O. Box 1350, | |
Company is P.O. Box 1350, Clifton House, 75 Fort Street, | Clifton House, 75 Fort Street, Grand Cayman | |
Grand Cayman KY1-1108, Cayman Islands. The principal | KY1-1108, Cayman Islandsf͉ʮ̡ٙ˴ࠅᐄ | |
place of business of the Company is located at 4/F., Sze | ุήᓃЗ࠰ಥࣵᝄл35-37سጳʈ | |
Hing Industrial Building, 35-37 Lee Chung Street, Chai | ุɽᅽ4ᅽf | |
Wan, Hong Kong. | ||
The Company is listed on the Main Board of The Stock | ͉ʮ̡࠰ಥᑌΥʹהϞࠢʮ̡€˜ᑌʹ | |
Exchange of Hong Kong Limited (the "Stock Exchange"). | ה™˴ؐɪ̹f | |
The Company is an investment holding company. The | ͉ʮ̡މɓගҳ༟છٰʮ̡f͉ණྠԫ | |
Group was engaged in the manufacturing and sale of | ႡிʿቖਯΙՏۜf | |
printing products. | ||
These condensed consolidated interim financial | ৰ̤ϞႭ̮dϤഃᔊၝΥʕಂৌਕజ | |
statements (the "interim financial statements") are | ڌ€˜ʕಂৌਕజڌ™˸ɷಥʩ€ɷಥʩя | |
presented in thousands of Hong Kong Dollars (HK$'000), | ΐfϤഃʕಂৌਕజڌʊɚཧɚɓϋɚ | |
unless otherwise stated. These interim financial | ˜ɤɞ˚ԫึҭࡘ̊೯f | |
statements were approved for issue by the Board on 18 | ||
February 2021. |
2. BASIS OF PREPARATION AND | 2. | ᇜႡਿʿึࠇ݁ഄ |
ACCOUNTING POLICIES | ||
The interim financial statements for the six months ended | ࿚Їɚཧɚཧϋɤɚ˜ɧɤɓ˚˟ʬࡈ˜ | |
31 December 2020 are prepared in accordance with the | ʘʕಂৌਕజڌɗ࣬ኽᑌʹהᗇՎɪ̹ | |
applicable disclosure requirements of Appendix 16 to | ۆ€˜ɪ̹ۆ™ڝɤʬٙቇ͜מᚣ | |
the Rules Governing the Listing of Securities ("Listing | ֛ʿ࠰ಥึࠇࢪʮึбٙ࠰ಥึࠇۆ | |
Rules") on the Stock Exchange and with Hong Kong | €˜࠰ಥึࠇۆ™ୋ34˜ʕಂৌਕజѓ™ | |
Accounting Standard ("HKAS") 34 "Interim Financial | ᇜႡfϤഃʕಂৌਕజڌɗ͊ᄲࣨdઓ | |
Reporting" issued by the Hong Kong Institute of Certified | ʊ͉͟ʮ̡ᄲࣨ։ࡰึᄲቡf | |
Public Accountants. The interim financial statements | ||
are unaudited, but have been reviewed by the Audit | ||
Committee of the Company. | ||
The accounting policies and basis of preparation adopted | ᇜႡʕಂৌਕజڌהમॶٙึࠇ݁ഄʿᇜ | |
in the preparation of the interim financial statements are | ႡਿၾᇜႡ࿚Їɚཧɚཧϋʬ˜ɧɤ˚ | |
the same as those used in the annual financial statements | ˟ϋܓٙϋܓৌਕజڌהᏐ͜٫ɓߧdઓ | |
for the year ended 30 June 2020, except for the following | ͉ණྠ͉ಂගʘʕಂৌਕజڌϣમॶ | |
revised Hong Kong Financial Reporting Standards (the | ٙɨΐࡌࠈ࠰ಥৌਕజѓۆ€˜࠰ಥৌ | |
"HKFRSs") that have been adopted by the Group for | ਕజѓۆ™ৰ̮j | |
the first time for the current period's interim financial | ||
statements: |
Amendments to HKFRS 3 | Definition of a Business | ࠰ಥৌਕజѓۆୋ3ʘࡌࠈ | ุਕʘ່֛ |
Amendments to HKFRS 9, | Interest Rate Benchmark Reform | ࠰ಥৌਕజѓۆୋ9e | лଟਿҷࠧ |
HKAS 39, HKFRS 7 | ࠰ಥึࠇۆୋ39ʿ | ||
࠰ಥৌਕజѓۆୋ7ʘࡌࠈ | |||
Amendments to HKAS 1 | Definition of Material | ࠰ಥึࠇۆୋ1ʿ | ࠠɽ່֛ٙ |
and HKAS 8 | ࠰ಥึࠇۆୋ8ʘࡌࠈ |
Amendments to HKAS 1 and HKAS 8 provide a new | ࠰ಥึࠇۆୋ 1 ʿ࠰ಥึࠇۆୋ8 |
definition of material. The new definition states that | €ࡌࠈ͉ఱࠠࠅԶอ່֛fอ່֛ |
information is material if omitting, misstating or | ΐdࡊ፲ဍeႬࠑאથུ༟̙ࣘΥଣή |
obscuring it could reasonably be expected to influence | ཫಂึᅂᚤɓছ͜ৌਕజѓٙ˴ࠅԴ͜ |
decisions that the primary users of general purpose | ٫ਿ༈ഃৌਕజѓЪ̈ٙӔ֛dۆϞᗫ |
financial statements make on the basis of those financial | ༟ࣘ᙮ࠠɽf༈ഃࡌࠈ͉ᆋdࠠࠅ |
statements. The amendments clarify that materiality | ൖ˷༟ࣘٙሯאഃॴϾ֛fࡊঐΥଣή |
will depend on the nature or magnitude of information. | ཫಂ༟ࣘႬࠑึᅂᚤ˴ࠅԴ͜٫Ъ̈ٙӔ |
A misstatement of information is material if it could | ֛dۆႬࠑϞᗫ༟ࣘ᙮ࠠɽf |
reasonably be expected to influence decisions made by | |
the primary users. | |
The adoption of the above revised HKFRSs has had | મॶɪࠑࡌࠈʘ࠰ಥৌਕజѓۆ࿁͉ |
no significant financial effect on these condensed | ᔊၝΥʕಂৌਕజڌԨೌࠠɽৌਕᅂᚤf |
consolidated interim financial statements. |
3. OPERATING SEGMENT INFORMATION | 3. | ᐄʱ༟ࣘ |
For management purposes, the Group has only one | ఱ၍ଣϾԊd͉ණྠ̥Ϟɓࡈ̙яజᐄ | |
reportable operating segment which is the manufacture | ʱdуႡிʿቖਯΙՏۜf | |
and sales of printing products. | ||
Geographical information | ήਜ༟ࣘ | |
(a) Revenue from external customers | (a) ԸІ̮܄˒ٙϗू | |
For the six months ended | ||
31 December | ||
࿚Їɤɚ˜ɧɤɓ˚˟ʬࡈ˜ |
(b)
The revenue information above is based on the | ɪࠑٙϗू༟ࣘɗ࣬ኽ܄˒הίήя | |
locations of the customers. | ΐf | |
Non-current assets | (b) | ڢݴਗ༟ପ |
30 June 2020 ɚཧɚཧϋ ʬ˜ɧɤ˚
(Audited)
€ᄲࣨ
HK$'000 ɷಥʩ
The non-current asset information above is based | ɪࠑڢݴਗ༟ପ༟ࣘɗܲ༟ପʘהί |
on the locations of the assets and excludes financial | ήྌʱdԨʔܼ̍ৌਕ༟ପʿַ |
instruments and deferred tax assets. | ධ༟ପf |
4. REVENUE AND OTHER INCOME
Revenue represents the sale of products transfered at a
point in time to customers.
4. ϗूʿՉ˼ϗɝ
ϗूܸΣ܄˒ቖਯत֛ࣛගᓃᔷᜫٙ
ۜf
An analysis of the Group's other income is as follows:
͉ණྠٙՉ˼ϗɝʱؓνɨj
For the six months ended
31 December
࿚Їɤɚ˜ɧɤɓ˚˟ʬࡈ˜
5. FINANCE COSTS
5. ፄ༟ϓ͉
For the six months ended
31 December
࿚Їɤɚ˜ɧɤɓ˚˟ʬࡈ˜
2019 ɚཧɓɘϋ
(Unaudited)
€͊ᄲࣨ
HK$'000 ɷಥʩ
1,601 246 1,847
2019 ɚཧɓɘϋ
(Unaudited)
€͊ᄲࣨ
HK$'000 ɷಥʩ
881
6. PROFIT BEFORE TAX
The Group's profit before tax is arrived at after charging/
(crediting):
6. ৰۃ๐л
͉ණྠٙৰۃ๐лʊϔৰŊ€ࠇɝj
2020 | 2019 | ||
ɚཧɚཧϋ | ɚཧɓɘϋ | ||
(Unaudited) | (Unaudited) | ||
€͊ᄲࣨ | €͊ᄲࣨ | ||
HK$'000 | HK$'000 | ||
ɷಥʩ | ɷಥʩ | ||
Cost of inventories sold# | ʊਯπϓ͉# | 101,391 | 111,925 |
Depreciation of property, plant and | يุeᅀגʿண௪ | ||
equipment | ʘұᔚ | 4,408 | 3,845 |
Depreciation of right-of-use assets | Դ͜ᛆ༟ପʘұᔚ | 5,542 | 5,747 |
Minimum lease payments under | ᐄॡ༣ʘ௰Эॡ༣˹ಛ | ||
operating leases | - | 267 | |
Lease payment not included in the | ࠇၑॡ༣ࠋවࣛ | ||
measurement of lease liabilities | Ԩೌࠇɝॡ༣˹ಛ | 1,512 | - |
Auditor's remuneration | ࣨᅰࢪᑚཇ | 675 | 630 |
Employee benefit expenses | ྇ࡰ၅лක˕ | ||
(excluding directors' and | €ʔܼ̍ԫʿ | ||
chief executive's remuneration) | Б݁ᐼٙᑚཇ | 30,100 | 31,986 |
Foreign exchange differences, net* | ිгࢨମଋᕘ* | 6 | (363) |
Loss on disposal of items of | ̈ਯيุeᅀגʿண௪ධͦ | ||
property, plant and equipment* | ٙᑦฦ* | 113 | 33 |
Fair value loss on a financial asset at | ܲʮ̻࠽ீཀฦूɝሪٙ | ||
fair value through profit or loss* | ږፄ༟ପʘʮ̻࠽ᑦฦ* | 9 | - |
#
Cost of inventories sold includes HK$30,201,000 and HK$30,541,000 of employee benefit expenses, depreciation and lease payments which are also included in the respective total amounts disclosed above for each of these types of expenses for the six months ended 31 December 2020 and 2019 respectively.
*
These items are included in "Other operating income/ (expenses), net" on the face of the condensed consolidated statement of profit or loss.
For the six months ended
31 December
࿚Їɤɚ˜ɧɤɓ˚˟ʬࡈ˜
#
࿚Їɚཧɚཧϋʿɚཧɓɘϋɤɚ˜ ɧɤɓ˚˟ʬࡈ˜dʊਯπϓ͉ܼ̍ʱ йމ 30,201,000 ಥʩʿ 30,541,000 ಥʩٙ ྇ࡰ၅лක˕eұᔚʿॡ༣˹ಛ€ʊࠇɝ ɪ˖ఱ༈ഃᗳක˕מᚣٙᗫᐼᕘf
*
༈ഃධͦࠇɝᔊၝΥฦूڌٙ˜Չ˼ ᐄϗɝŊ€ක˕ଋᕘ™f
7. INCOME TAX | 7. | ה |
Pursuant to the rules and regulations of the Cayman | ࣬ኽකਟ໊ࢥʿߵ᙮ၪဧԯ໊ࢥۆʿج | |
Islands and the British Virgin Islands, the Group is not | d͉ණྠˡ༈ഃ̡جᛆਜᖮॶО | |
subject to any income tax in such jurisdictions. | הf | |
Hong Kong profits tax has been provided at the rate | ࿚Їɚཧɚཧϋʿɚཧɓɘϋɤɚ˜ | |
of 16.5% (2019: 16.5%) on the estimated assessable | ɧɤɓ˚˟ʬࡈ˜d࠰ಥлʊఱ࠰ | |
profits arising in Hong Kong for the six months ended 31 | ಥପ͛ٙПࠇᏐሙ๐лܲ 16.5% €ɚཧ | |
December 2020 and 2019. The People's Republic of China | ɓɘϋj16.5%ʘଟࠇᅡ௪fʕശɛ | |
(the "PRC") tax has been provided at the rate of 25% | ͏ձ€˜ʕ™ධɗఱʕପ͛ٙ | |
(2019: 25%) on the estimated assessable profits arising in | ПࠇᏐሙ๐лܲ25%€ɚཧɓɘϋj25% | |
the PRC. | ʘଟࠇᅡ௪f | |
For the six months ended | ||
31 December | ||
࿚Їɤɚ˜ɧɤɓ˚˟ʬࡈ˜ |
8.
EARNINGS PER SHARE ATTRIBUTABLE | 8. | ͉ʮٰ̡ᛆܵϞɛᏐЦӊٰޮ |
TO EQUITY HOLDERS OF THE | л | |
COMPANY | ||
The calculation of basic earnings per share amount | ӊٰਿ͉ޮлږᕘɗ࣬ኽ͉ʮٰ̡ᛆܵ | |
is based on the profit for the six months ended 31 | ϞɛᏐЦ࿚Їɚཧɚཧϋɤɚ˜ɧɤɓ | |
December 2020 attributable to the equity holders of | ˚˟ʬࡈ˜ٙ๐л 27,530,000 ಥʩ€࿚Ї | |
the Company of HK$27,530,000 (six months ended 31 | ɚཧɓɘϋɤɚ˜ɧɤɓ˚˟ʬࡈ˜j | |
December 2019: HK$28,017,000), and the weighted | 28,017,000ಥʩʿಂʫʊ೯Б౷ஷٰ̋ᛆ | |
average number of ordinary shares of 480,000,000 (six | ̻ѩᅰ480,000,000ٰ€࿚Їɚཧɓɘϋɤɚ | |
months ended 31 December 2019: 480,000,000) in issue | ˜ɧɤɓ˚˟ʬࡈ˜j 480,000,000 ٰ ࠇ | |
during the period. | ၑf | |
No adjustment has been made to the basic earnings per | Ϊމ͉ණྠ࿚Їɚཧɚཧϋʿɚཧɓɘ | |
share amounts presented for the six months ended 31 | ϋɤɚ˜ɧɤɓ˚˟ʬࡈ˜ѩೌʊ೯Бᆑ | |
December 2020 and 2019 in respect of a dilution as the | ίᛅᑛ౷ஷٰdΪϤԨೌఱᛅᑛ࿁༈ഃಂ | |
Group had no potentially dilutive ordinary shares in issue | ගяΐٙӊٰਿ͉ޮлЪ̈ሜf | |
during these periods. | ||
The calculations of basic and diluted earnings per share | ӊٰਿ͉ʿᛅᑛޮлɗ࣬ኽɨΐධࠇၑj | |
are based on: | ||
For the six months ended | ||
31 December | ||
࿚Їɤɚ˜ɧɤɓ˚˟ʬࡈ˜ |
2019 ɚཧɓɘϋ
Profit attributable to equity holders of the Company
Weighted average number of ordinary shares in issue during the periods for calculation of basic and diluted earnings per share ('000)
Basic and diluted earnings per share
(Unaudited)
€͊ᄲࣨ
HK$'000 ɷಥʩ
28,017
480,000
HK cents ಥ̀
5.84
9.
DIVIDENDS
A final dividend in respect of the year ended 30 June 2020 of HK3.5 cents per ordinary share (2019: HK2.5 cents) was proposed pursuant to a resolution passed by the Board on 22 September 2020 and approved by the shareholders of the Company at the annual general meeting of the Company held on 1 December 2020. Such dividend amounting to HK$16,800,000 (2019: HK$12,000,000) was paid before 31 December 2020.
The Board declares an interim dividend amounting to HK1.5 cents for the six months ended 31 December 2020 (six months ended 31 December 2019: HK1 cent).
9. ٰࢹ
࣬ኽԫึɚཧɚཧϋɘ˜ɚɤɚ˚ஷ ཀԨ͉͟ʮٰ̡؇ɚཧɚཧϋɤɚ˜ɓ ˚ᑘБʘ͉ʮٰ̡؇ϋɽึɪҭࡘٙӔ ᙄࣩdܔᙄఱ࿚Їɚཧɚཧϋʬ˜ɧɤ˚ ˟ϋܓݼ೯͋ಂٰࢹӊٰ౷ஷٰ3.5ಥ̀€ɚ ཧɓɘϋj2.5ಥ̀fϞᗫٰࢹ16,800,000 ಥʩ€ɚཧɓɘϋj12,000,000ಥʩʊɚ ཧɚཧϋɤɚ˜ɧɤɓ˚ۃݼ˹f ԫึఱ࿚Їɚཧɚཧϋɤɚ˜ɧɤɓ˚ ˟ʬࡈ˜܁ݼʕಂٰࢹ 1.5 ಥ̀€࿚Їɚཧ ɓɘϋɤɚ˜ɧɤɓ˚˟ʬࡈ˜j1ಥ̀f
10. PROPERTY, PLANT AND EQUIPMENT
Acquisition and disposal
During the six months ended 31 December 2020, the
Group acquired items of property, plant and equipment
with a cost of HK$1,985,000 (six months ended 31
December 2019: HK$13,059,000). Items of property, plant
and equipment with net book values of HK$215,000 (six
months ended 31 December 2019: HK$33,000) were
disposed during the six months ended 31 December
2020, resulting in a net loss of disposal of HK$113,000 (six
months ended 31 December 2019: net loss on disposal of
HK$33,000).
11. FINANCIAL ASSET AT FAIR VALUE
THROUGH PROFIT OR LOSS
Unlisted fund investment
ڢɪ̹ਿږҳ༟
10. يุeᅀגʿண௪ ϗᒅʿ̈ਯ
࿚Їɚཧɚཧϋɤɚ˜ɧɤɓ˚˟ʬࡈ ˜d͉ණྠϗᒅيุeᅀגʿண௪ධͦʘ ϓ͉މ1,985,000ಥʩ€࿚Їɚཧɓɘϋɤɚ ˜ɧɤɓ˚˟ʬࡈ˜j13,059,000ಥʩf ͉ණྠ࿚Їɚཧɚཧϋɤɚ˜ɧɤɓ˚ ˟ʬࡈ˜̈ਯʘيุeᅀגʿண௪ධͦ ሪࠦଋ࠽މ 215,000 ಥʩ€࿚Їɚཧɓɘϋ ɤɚ˜ɧɤɓ˚˟ʬࡈ˜j33,000ಥʩd ኬߧ̈ਯᑦฦଋᕘމ 113,000 ಥʩ€࿚Їɚ ཧɓɘϋɤɚ˜ɧɤɓ˚˟ʬࡈ˜j̈ਯ ᑦฦଋᕘމ33,000ಥʩf
11. ܲʮ̻ᄆ࠽ࠇɝฦूٙږፄ༟ ପ
31 December | 30 June |
2020 | 2020 |
ɚཧɚཧϋ | ɚཧɚཧϋ |
ɤɚ˜ɧɤɓ˚ | ʬ˜ɧɤ˚ |
(Unaudited) | (Audited) |
€͊ᄲࣨ | €ᄲࣨ |
HK$'000 | HK$'000 |
ɷಥʩ | ɷಥʩ |
10,030 | 10,039 |
The above investment was classified as a financial asset | ͟ɪࠑҳ༟ʘΥߒତږݴඎʔස͉݊ږ |
at fair value through profit or loss as its contractual | ʿлࢹٙ˹ಛd־ഃҳ༟ᓥᗳމܲʮ̻ᄆ |
cash flows are not solely payments of principal and | ࠽ࠇɝฦूٙږፄ༟ପfڢɪ̹ਿږҳ༟ |
interest. The fair value of the unlisted fund investment | ٙʮ̻ᄆ࠽݊Ϥҳ༟ਿږٙҳ༟၍ଣࡰܲ |
is determined by its net asset value quoted by the | Ϥਿږʘᗫ༟ପٙଋ༟ପᄆ࠽ϾӔ֛f |
investment administrator of the investment fund with | |
reference to the underlying assets of the fund. |
12. TRADE RECEIVABLES
12. ൱Ꮠϗಛධ
30 June 2020 ɚཧɚཧϋ ʬ˜ɧɤ˚
(Audited)
€ᄲࣨ
HK$'000 ɷಥʩ
61,922
The Group's trading terms with its customers are mainly | ͉ණྠၾՉ܄˒ٙ൱ૢಛ˴ࠅᗫڦ൲ |
on credit. The credit period is generally one month, | ˙ࠦfڦ൲ಂஷ੬މɓࡈ˜d௰εַڗЇ |
extending up to three months for major customers. | ɧࡈ˜€ఱ˴ࠅ܄˒ϾԊfӊΤ܄˒Ϟ௰ |
Each customer has a maximum credit limit. The Group | ৷ڦ൲ࠢᕘf͉ණྠߧɢ࿁Չ֠͊ᎵᒔᏐ |
seeks to maintain strict control over its outstanding | ϗಛධၪܵᘌ္ࣸٙછdԨணϞ݁ഄ˸၍ |
receivables and has a policy to manage its risk. Overdue | ଣՉࠬᎈfགྷಂഐቱ͟৷ॴ၍ଣᄴ֛ಂᄲ |
balances are reviewed regularly by senior management. | ቡf͉ණྠԨ͊ఱՉ൱Ꮠϗಛධഐቱܵ |
The Group does not hold any collateral or other credit | ϞОתץۜאՉ˼৷ڦ൲ʈՈf൱ |
enhancements over its trade receivable balances. Trade | Ꮠϗಛධʔࠇࢹf |
receivables are non-interest-bearing. | |
An ageing analysis of the trade receivables as at 31 | ɚཧɚཧϋɤɚ˜ɧɤɓ˚ʿɚཧɚཧ |
December 2020 and 30 June 2020, based on the invoice | ϋʬ˜ɧɤ˚d࣬ኽ೯ୃ˚ಂяΐٙ൱ |
date, is as follows: | Ꮠϗಛධٙሪᙧʱؓνɨj |
Within 1 month
1 to 2 months
2 to 3 months
Over 3 months
ɓࡈ˜ʫ ɓЇՇࡈ˜ ՇЇɧࡈ˜ ൴ཀɧࡈ˜
26,977 33,350
30 June 2020 ɚཧɚཧϋ ʬ˜ɧɤ˚
(Audited)
€ᄲࣨ
HK$'000 ɷಥʩ
23,374 20,272
6,676 6,649
1,594 1,651
61,922
13. CASH AND CASH EQUIVALENTS | 13. ତږʿତږഃᄆي |
31 December | 30 June |
2020 | 2020 |
ɚཧɚཧϋ | ɚཧɚཧϋ |
ɤɚ˜ɧɤɓ˚ | ʬ˜ɧɤ˚ |
(Unaudited) | (Audited) |
€͊ᄲࣨ | €ᄲࣨ |
HK$'000 | HK$'000 |
ɷಥʩ | ɷಥʩ |
29,208 | 15,671 |
186,275 | |
2,174 | |
204,120 |
ତږʿვБഐቱ ᒅ൯ࣛࡡϞՑಂ˚ˇ ɧࡈ˜֛ٙಂπಛ ଣৌପۜ* ତږʿତږഃᄆي
Cash and bank balances
Time deposits with original maturity less than three months when acquired Wealth management products*
Cash and cash equivalents
The cash and cash equivalents of the Group denominated | ɚཧɚཧϋɤɚ˜ɧɤɓ˚ʿɚཧɚཧ |
in Renminbi ("RMB") as at 31 December 2020 and 30 | ϋʬ˜ɧɤ˚d͉ණྠ˸ɛ͏࿆€˜ɛ͏ |
June 2020 amounted to approximately HK$7,601,000 | ࿆™ࠇ࠽ʘତږʿତږഃᄆيʱйߒމ |
and HK$6,507,000, respectively. The RMB is not freely | 7,601,000ಥʩʿ6,507,000ಥʩfɛ͏࿆ʔ |
convertible into other currencies, however, under | І͟г౬މՉ˼࿆f್Ͼd࣬ኽʕ |
Mainland China's Foreign Exchange Control Regulations | ʫήʘ̮ි၍ଣૢԷ˸ʿഐිeਯිʿ˹ |
and Administration of Settlement, Sales and Payment of | 䁩၍ଣ֛d͉ණྠᐏࡘீཀᐏબᛆᐄ |
Foreign Exchange Regulations, the Group is permitted | ̮ිุਕʘვБਗ਼ɛ͏࿆г౬މՉ˼࿆f |
to exchange RMB for other currencies through banks | |
authorised to conduct foreign exchange business. |
*
The principal and interest amounts of the wealth management products held as at 30 June 2020 were guaranteed. The Group used the wealth management products primarily to enhance its return on fixed deposits. The wealth management products were purchased for varying periods of between one day and three months depending on the immediate cash requirements of the Group, and earned interest at the respective short term time deposit rates. The wealth management products were made with a creditworthy bank with no recent history of default.
*
ɚཧɚཧϋʬ˜ɧɤ˚הܵଣৌପ ͉ۜٙږʿлࢹږᕘʊᐏዄڭf͉ණ ྠԴ͜ଣৌପۜɗ˴ࠅމ৷Չո֛ πಛΫజfଣৌପۜٙಂࠢʧ˷ɓ˚ Їɧࡈ˜ʔഃdൖ˷͉ණྠٙуࣛତ ږცࠅϾ֛dԨܲᗫಂ֛ಂπಛ лଟᒃ՟лࢹf͉ණྠІڦᚑԄλ˲ Ԩೌڐಂ˞ಛাٙვБᒅ൯ଣৌପ ۜf
14. TRADE PAYABLES | 14. ൱Ꮠ˹ಛධ |
An ageing analysis of the trade payables as at 31 | ɚཧɚཧϋɤɚ˜ɧɤɓ˚ʿɚཧɚཧ |
December 2020 and 30 June 2020, based on the invoice | ϋʬ˜ɧɤ˚d࣬ኽ೯ୃ˚ಂяΐٙ൱ |
date, is as follows: | Ꮠ˹ಛධٙሪᙧʱؓνɨj |
Within 1 month | ɓࡈ˜ʫ | 9,513 | 9,796 |
1 to 2 months | ɓЇՇࡈ˜ | 5,366 | 5,033 |
2 to 3 months | ՇЇɧࡈ˜ | 980 | 951 |
Over 3 months | ൴ཀɧࡈ˜ | 144 | 170 |
16,003 | 15,950 |
31 December | 30 June |
2020 | 2020 |
ɚཧɚཧϋ | ɚཧɚཧϋ |
ɤɚ˜ɧɤɓ˚ | ʬ˜ɧɤ˚ |
(Unaudited) | (Audited) |
€͊ᄲࣨ | €ᄲࣨ |
HK$'000 | HK$'000 |
ɷಥʩ | ɷಥʩ |
The trade payables are non-interest-bearing and are | ൱Ꮠ˹ಛධʔࠇࢹʿஷ੬ɧࡈ˜ʫഐ |
normally settled within three months. | ˹f |
15. RELATED PARTIES TRANSACTIONS | 15. ᗫᑌ˙ʹ |
(a) In addition to the transactions detailed elsewhere in these financial statement, the Group had the following transactions with related parties during the reporting period:
(a) ৰϤഃৌਕజڌՉ˼ʱה༉ࠑٙʹ ̮d͉ණྠజѓಂගϞ˸ɨᗫᑌ ˙ʹj
For the six months ended
31 December
࿚Їɤɚ˜ɧɤɓ˚˟ʬࡈ˜
2019 ɚཧɓɘϋ
(Unaudited)
€͊ᄲࣨ
HK$'000 ɷಥʩ
1,293
204
The rental expenses were paid based on tenancy | ॡ༣ක˕ɗ࣬ኽ͉ණྠڝ᙮ʮ̡ၾᗫ |
agreements entered between a subsidiary of the | ᑌʮ̡Ŋᗫᑌ˙ࠈͭٙॡ༣ᙄ˕ |
Group and related companies/a related party. | ˹f |
15. RELATED PARTIES TRANSACTIONS
(Continued)
15. ᗫᑌ˙ʹ€ᚃ
(b) Commitments with related parties | (b) | ၾᗫᑌ˙ٙוፕ |
On 1 July 2020, a subsidiary of the Group entered | ɚཧɚཧϋɖ˜ɓ˚d͉ණྠڝ᙮ | |
into a one-year tenancy agreement ending on 30 | ʮ̡ၾږ䇐೯࢝Ϟࠢʮ̡€˜ږ䇐™ | |
June 2021 with Golden Park Development Limited | €Չၾ͉ʮ̡ኹϞΝԫ᚛͛ | |
("Golden Park"), which has common directors, | ͛ʿқ͛ࠈͭɓ΅މಂɓϋ | |
Mr. Peter Chan and Mr. Kenneth Chan, with the | ʘॡ༣ᙄdᙄɚཧɚɓϋʬ˜ | |
Company. As at 31 December 2020, the Group had | ɧɤ˚֣တfɚཧɚཧϋɤɚ˜ | |
a total future minimum lease payment falling due | ɧɤɓ˚d͉ණྠၾږ䇐͊Ըɓ | |
within one year amounting to HK$663,000 for this | ϋʫٙ௰Эॡ༣˹ಛᐼᕘމΥ༺ | |
lease with Golden Park. | 663,000ಥʩf | |
On 1 July 2020, a subsidiary of the Group entered | ɚཧɚཧϋɖ˜ɓ˚d͉ණྠڝ᙮ | |
into a one-year tenancy agreement ending on | ʮ̡ၾක࢝ҳ༟Ϟࠢʮ̡€˜ක࢝™ | |
30 June 2021 with High Develop Investments | €Չၾ͉ʮ̡ኹϞΝԫ᚛͛ | |
Limited ("High Develop"), which has a common | ͛ࠈͭɓ΅މಂɓϋʘॡ༣ᙄd | |
director, Mr. Peter Chan, with the Company. As at | ᙄɚཧɚɓϋʬ˜ɧɤ˚֣တf | |
31 December 2020, the Group had a total future | ɚཧɚཧϋɤɚ˜ɧɤɓ˚d͉ණ | |
minimum lease payment falling due within one year | ྠၾක࢝͊Ըɓϋʫٙ௰Эॡ༣˹ | |
amounting to HK$630,000 for this lease with High | ಛᐼᕘމΥ༺630,000ಥʩf | |
Develop. | ||
On 1 July 2020, a subsidiary of the Group entered | ɚཧɚཧϋɖ˜ɓ˚d͉ණྠڝ᙮ | |
into a one-year tenancy agreement ending 30 June | ʮ̡ၾ͉ʮ̡ՉʕɓΤԫٙৣਅ | |
2021 with the spouse of one of the directors (the | €˜༈ৣਅ™ࠈͭɓ΅މಂɓϋʘॡ | |
"Spouse") of the Company. As at 31 December | ༣ᙄdᙄɚཧɚɓϋʬ˜ɧɤ | |
2020, the Group had a total future minimum lease | ˚֣တfɚཧɚཧϋɤɚ˜ɧɤɓ | |
payment falling due within one year amounting to | ˚d͉ණྠၾ༈ৣਅ͊Ըɓϋʫٙ | |
HK$204,000 for this lease with the Spouse. | ௰Эॡ༣˹ಛᐼᕘމΥ༺ 204,000 | |
ಥʩf | ||
(c) | ˴ࠅ၍ଣɛࡰٙᑚཇ | |
͉ණྠʘ˴ࠅ၍ଣɛࡰމ͉ʮ̡ੂБ | ||
ԫfಂʫ˴ࠅ၍ଣɛࡰٙᑚཇν | ||
ɨj | ||
For the six months ended | ||
31 December | ||
࿚Їɤɚ˜ɧɤɓ˚˟ʬࡈ˜ |
the period is as follows:
(c) Compensation of key management personnel
The Group's key management personnel are
the executive directors of the Company. The
remuneration of key management personnel during
2019 ɚཧɓɘϋ
(Unaudited)
€͊ᄲࣨ
HK$'000 ɷಥʩ
9,551 18 9,569
16. COMMITMENTS
At the end of the reporting period, the Group had the
following capital commitments:
Contracted, but not provided for:
Plant and machinery
ʊࠈߒШ͊ᅡ௪j ᅀגʿዚኜ
17. FAIR VALUE AND FAIR VALUE
HIERARCHY
Management has assessed that the fair values of cash and cash equivalents, trade receivables, trade payables, financials assets included in prepayments, deposits and other receivables and financial liabilities included in other payables and accruals approximate to their carrying amounts largely due to the short term maturities of these instruments.
The fair values of non-current deposits have been calculated by discounting the expected future cash flows using rates currently available for instruments with similar terms, credit risk and remaining maturities, and were assessed to approximate to their carrying amounts.
The fair value of the unlisted fund investment is determined by its net asset values quoted by the investment administrator of the investment fund with reference to the underlying assets of the funds.
16. וዄ
జѓಂ͋d͉ණྠϞ˸ɨ༟͉וዄj
17. ʮ̻࠽ʿʮ̻࠽ഃॴ
30 June 2020 ɚཧɚཧϋ ʬ˜ɧɤ˚
(Audited)
€ᄲࣨ
HK$'000 ɷಥʩ
377
ኽ၍ଣᄴ൙Пdତږʿତږഃᄆيe൱ Ꮠϗಛධe൱Ꮠ˹ಛධeࠇɝཫ˹ಛ ධeܲږʿՉ˼Ꮠϗಛධٙږፄ༟ପʿࠇ ɝՉ˼Ꮠ˹ಛධʿᏐࠇ൬ٙ͜ږፄࠋවʘ ʮ̻࠽ၾՉሪࠦ࠽߰dɗ˴ࠅ͟༈ഃ ʈՈՑಂ˚༰הߧf
ڢݴਗπಛٙʮ̻࠽ɗܲԴ͜ኹϞᗳЧૢ ಛeڦ൲ࠬᎈʿቱɨՑಂಂࠢٙʈՈͦۃ ̙ٙлଟұᜫཫಂ͊Ըତږݴඎࠇၑd ԨПࠇၾՉሪࠦ࠽߰f
ڢɪ̹ਿږҳ༟ٙʮ̻ᄆ࠽݊Ϥҳ༟ਿږ ٙҳ༟၍ଣࡰܲϤਿږʘᗫ༟ପٙଋ༟ ପᄆ࠽ϾӔ֛f
DISCLOSURE OF INTEREST | ᛆूמᚣ |
A. Directors' and chief executives' interest | A. ԫʿБ݁ᐼ͉ʮٰ̡΅ʿ |
and/or short position in shares and | ᗫٰ΅ʘᛆूʿŊא૱ࡑ |
underlying shares of the Company | |
As at 31 December 2020, the interests and short positions | ɚཧɚཧϋɤɚ˜ɧɤɓ˚d͉ʮ̡ |
of the directors and chief executives of the Company in | ԫʿБ݁ᐼ͉ʮ̡אՉОᑌجྠ |
the shares and underlying shares of the Company or any | €່֛ԈᗇՎʿಂૢԷ€˜ᗇՎʿಂૢ |
of its associated corporation (within the meaning of Part | Է™ୋXVٰٙ΅ʿᗫٰ΅ʕኹϞ࣬ኽ |
XV of Securities and Futures Ordinance ("SFO") which | ᗇՎʿಂૢԷୋXVୋ7ʿୋ8ʱٝ |
were notified to the Company and the Stock Exchange | ึ͉ʮ̡ʿᑌʹהٙᛆूʿ૱ࡑ€ܼ̍࣬ኽ |
pursuant to Divisions 7 and 8 of Part XV of the SFO | ᗇՎʿಂૢԷϞᗫૢ˖־ഃЪאൖ |
(including interests or short positions which they were | މኹϞٙᛆूא૱ࡑdא࣬ኽᗇՎʿಂ |
taken or deemed to have under such provisions of the | ૢԷୋ352ૢাɝ͉ʮ̡πໄٙ೮া̅ٙ |
SFO), or which were recorded in the register required to | ᛆूʿ૱ࡑdא࣬ኽɪ̹ۆڝɤה༱ |
be kept by the Company pursuant to Section 352 of the | ɪ̹೯БɛԫආБᗇՎʹٙᅺςۆ |
SFO, or which were otherwise required, to be notified to | €˜ ᅺ ς ۆ ™ ٝ ึ ͉ ʮ ̡ ʿ ᑌ ʹ ה ٙ ᛆ |
the Company and the Stock Exchange pursuant to the | ूʿ૱ࡑΐ༱νɨj |
Model Code for Securities Transactions by Directors of | |
Listed Issuers as contained in Appendix 10 to the Listing | |
Rules (the "Model Code"), are set out below: | |
Long Positions in shares of the Company or any of its | ͉ʮ̡אՉОᑌجྠٰ΅ʘλࡑ |
associated corporation | |
Approximate | |
percentage of |
Company/ name of associated company
Name of director
ԫ֑Τ
Chan Peter Tit Sang
͉ʮ̡Ŋ ᗫᑌʮ̡Τ၈
The Company
᚛͛
͉ʮ̡
Goody Luck Limited ("Goody Luck")
Nature of interest and capacity
ᛆूሯʿԒ΅
Interest in a controlled corporation (Note 1) (Note 2)
աછجྠᛆू €ڝൗ1€ڝൗ2 Beneficial owner
Number and the Company'sclass of securities
ᗇՎᅰͦʿ ᗳй
360,000,000
Shares
360,000,000
ٰٰ΅
ྼूኹϞɛ
986 shares of US$1.00 each 986ٰӊٰࠦ࠽ 1.00ߕʩʘٰ΅
total issued share capital
Ц͉ʮ̡Ό ʊ೯Бٰ͉ ฿ߒϵʱˢ
75%
98.6%
DISCLOSURE OF INTEREST (Continued)
A.
Directors' and chief executives' interest and/or short position in shares and underlying shares of the Company
(Continued)
Long Positions in shares of the Company or any of its associated corporation (Continued)
Name of directorCompany/ name of associated company
ԫ֑Τ
Chan Kenneth Chi Kin
қ
Chan Chi Ming
͉ʮ̡Ŋ ᗫᑌʮ̡Τ၈
The Company
͉ʮ̡
Goody LuckGoody Capital Limited
("Goody Capital")The Company
қ
ᛆूמᚣ€ᚃ
A. ԫʿБ݁ᐼ͉ʮٰ̡΅ʿ ᗫٰ΅ʘᛆूʿŊא૱ࡑ€ᚃ
͉ʮ̡אՉОᑌجྠٰ΅ʘλࡑ€ᚃ
Nature of interest and capacity
ᛆूሯʿԒ΅
Interest in a controlled corporation (Note 1) (Note 2)
աછجྠᛆू €ڝൗ1€ڝൗ2 Beneficial owner
ྼूኹϞɛ
Beneficial owner
ྼूኹϞɛ
Interest in a controlled corporation (Note 1) (Note 2)
͉ʮ̡
Goody Capital
աછجྠᛆू €ڝൗ1€ڝൗ2 Beneficial owner
Number and the Company'sclass of securities
ᗇՎᅰͦʿ ᗳй
Approximate percentage oftotal issued share capital
Ц͉ʮ̡Ό ʊ೯Бٰ͉ ฿ߒϵʱˢ
360,000,000 75%
Shares
360,000,000
ٰٰ΅
14 shares of 1.4% US$1.00 each
14ٰӊٰࠦ࠽
1.00ߕʩʘٰ΅
1 share of 33.3% US$1.00 each
1ٰӊٰࠦ࠽
1.00ߕʩʘٰ΅
360,000,000 75%
Shares
360,000,000
ٰٰ΅
ྼूኹϞɛ
1 share of 33.3% US$1.00 each 1ٰӊٰࠦ࠽ 1.00ߕʩʘٰ΅
Chan Chun Sang Desmond
The Company
݆͛
͉ʮ̡
Goody CapitalInterest in a controlled corporation (Note 1) (Note 2)
աછجྠᛆू €ڝൗ1€ڝൗ2 Beneficial owner
360,000,000 75%
Shares
360,000,000
ٰٰ΅
ྼूኹϞɛ
1 share of 33.3% US$1.00 each 1ٰӊٰࠦ࠽ 1.00ߕʩʘٰ΅
DISCLOSURE OF INTEREST (Continued)
A.
Directors' and chief executives' interest and/or short position in shares and underlying shares of the Company
(Continued)
Long Positions in shares of the Company or any of its associated corporation (Continued)
Notes:
1. The Company will be owned as to 54.8% by Goody Luck and 20.2% by Goody Capital immediately after completion of the capitalisation issue and the share offer (without taking into account any of the shares which may be allotted and issued upon exercise of the over-allotment option and the options that may be granted under the Share Option Scheme). Goody Luck is owned as to 98.6% by Mr. Peter Chan and 1.4% by Mr. Kenneth Chan, and Goody Capital is owned as to 33.3% by Mr. Desmond Chan, 33.3% by Mr. Chan Chi Ming and 33.3% by Mr. Kenneth Chan.
2. Mr. Peter Chan, Mr. Kenneth Chan, Mr. Chan Chi Ming, and Mr. Desmond Chan are persons acting in concert pursuant to the Acting in Concert Confirmation and Undertaking and accordingly each of them is deemed to be interested in the shares held by the others. By the Acting In Concert Confirmation And Undertaking, with respect to the businesses of each member of the Group, (i) each of Mr. Peter Chan and Mr. Desmond Chan confirms that since 31 December 1990; (ii) each of Mr. Peter Chan, Mr. Desmond Chan and Mr. Chan Chi Ming confirms that since the 5 February 1991; and (iii) each of Mr. Peter Chan, Mr. Desmond Chan, Mr. Chan Chi Ming and Mr. Kenneth Chan confirms that since the 8 March 2010, (i) they have agreed to consult each other and reach an unanimous consensus among themselves on such matters being the subject matters of any shareholders' resolution, prior to putting forward such resolution to be passed at any shareholders' meeting of each member of the Group, and have historically voted on each resolutions in the same way; (ii) they have centralised the ultimate control and right to make final decisions with respect to their interests in the businesses and projects of members of the Group; and (iii) they have operated members of the Group as a single business venture on a collective basis and have made collective decisions in respect of the financial and operating policies of the members of the Group, and will continue to do so. As such, each of our controlling shareholders is deemed interested in 75.0% of the issued share capital of the Company.
ᛆूמᚣ€ᚃ
A. ԫʿБ݁ᐼ͉ʮٰ̡΅ʿ ᗫٰ΅ʘᛆूʿŊא૱ࡑ€ᚃ
͉ʮ̡אՉОᑌجྠٰ΅ʘλࡑ€ᚃ
ڝൗj
1. ၡᎇ༟͉ʷ೯Бʿٰ΅೯ਯҁϓܝ€͊ ࠇʿΪ൴ᕘৣٰᛆʿ࣬ኽᒅٰᛆࠇྌ̙ ঐબ̈ٙᒅٰᛆᐏБԴܝ̙ঐৣ೯ʿ೯ БٙОٰ΅d͉ʮ̡ਗ਼͟Goody Luck ኹϞ 54.8% ᛆूʿ͟Goody CapitalኹϞ 20.2%ᛆूf Goody Luck͟᚛͛͛ኹ Ϟ 98.6%ᛆूʿ͟қ͛ኹϞ1.4%ᛆ ूdϾGoody Capitalۆ݆͛͛͟ኹ Ϟ33.3%d͟қ͛ኹϞ33.3%ʿ͟ қ͛ኹϞ33.3%ᛆूf
2. ࣬ኽɓߧБਗᆽႩʿוፕd᚛͛͛e қ͛eқ͛ʿ݆͛͛މ ɓߧБਗɛɻdΪϤd־ഃІൖމ Չ˼ɓߧБਗɛɻהܵϞٰٙ΅ʕኹϞ ᛆूf࣬ኽɓߧБਗᆽႩʿוፕdᗫ͉ ණྠϓࡰʮุ̡ٙਕj(i)᚛͛͛ʿ ݆͛͛ІᆽႩІɓɘɘཧϋɤɚ˜ ɧɤɓ˚ৎi(ii)᚛͛͛e݆͛͛ ʿқ͛ІᆽႩІɓɘɘɓϋɚ˜ ʞ˚ৎiʿ(iii)᚛͛͛e݆͛͛e қ͛ʿқ͛ІᆽႩІɚཧ ɓཧϋɧ˜ɞ˚ৎj(i)־ഃΝจ̈ਗ਼ ͉ණྠϓࡰʮٰ̡؇ɽึɪஷཀٙ Оٰ؇Ӕᙄࣩۃdఱ༈ഃӔᙄࣩٙ˴ԫ ֝ഃԫ֝ʝਠʿ༺ߧᗆd˲־ഃཀ ֻɗ˸Νᅵ˙όఱ༈ഃӔᙄࣩҳୃi(ii)־ ഃʊණʕ௰છՓᛆʿఱ־ഃ͉ණྠϓ ࡰʮุ̡ٙਕʿධͦٙᛆूЪ̈௰Ӕ֛ ٙᛆлiʿ(iii)־ഃʊܲණਿᐄ༶͉ ණྠϓࡰʮ̡Ъఊɓุਕҳ༟d͵ʊఱ͉ ණྠϓࡰʮ̡ٙৌਕʿᐄ༶݁ഄЪ̈ණ Ӕ֛dԨਗ਼ᘱᚃνϤБԫfΪϤdછٰ ٰ؇ൖމ͉ʮ̡75.0%ٙʊ೯Бٰ͉ ʕኹϞᛆूf
Short positions in shares of the Company or any of its | ͉ʮ̡אՉОᑌجྠٰ΅ʘ૱ࡑ |
associated corporation | |
As at 31 December 2020, there is no short positions of | ɚཧɚཧϋɤɚ˜ɧɤɓ˚d฿ೌ͉ʮ |
the directors and chief executives of the Company in the | ̡ԫʿБ݁ᐼ͉ʮ̡אՉОᑌ |
shares and underlying shares of the Company or any of its | جྠ€່֛ԈᗇՎʿಂૢԷୋXVʘٰ |
associated corporations (within the meaning of Part XV of | ΅ʿᗫٰ΅ኹϞ૱ࡑf |
SFO). |
ᛆूמᚣ€ᚃ | ||
B. | Substantial shareholder's and other | B. ˴ࠅٰ؇ʿՉ˼ɛɻ͉ʮٰ̡΅ |
person's interests and/or short positions | ʿᗫٰ΅ʘᛆूʿŊא૱ࡑ | |
in the shares and underlying shares of the | ||
Company | ||
As at 31 December 2020, the following persons (other | ɚཧɚཧϋɤɚ˜ɧɤɓ˚d˸ɨɛɻ | |
than the directors or the chief executive of the Company) | €ʔܼ͉̍ʮ̡ԫאБ݁ᐼ͉ʮ̡ | |
have interests of 5% or more in our shares and underlying | ٰ΅ʿᗫٰ΅ʕኹϞ࣬ኽᗇՎʿಂૢ | |
shares of the Company as recorded in the register of | Էୋ336ૢাɝ͉ʮ̡πໄʘᛆू೮া̅ | |
interests required to be kept by the Company pursuant to | ʘ5%א˸ɪᛆूj | |
Section 336 of the SFO: | ||
Long Positions in ordinary shares of the Company | ͉ʮ̡౷ஷٰʘλࡑ |
DISCLOSURE OF INTEREST (Continued)
Name of shareholder
ٰ؇֑ΤŊΤ၈
Goody Luck
Goody Capital
Mr. Peter Chan ᚛͛͛
Mr. Kenneth Chan қ͛
Mr. Chan Chi Ming қ͛
Mr. Desmond Chan ݆͛͛
Ms. Chan Lai Lin Diana ᘆᇳɾɻ
Capacity/nature of interest
Ԓ΅Ŋᛆूሯ
Beneficial interest (Notes 1, 2)
ྼूᛆू€ڝൗ1e2
Beneficial interest (Notes 1, 2)
ྼूᛆू€ڝൗ1e2
Interest in a controlled corporation (Note 2)
աછجྠᛆू€ڝൗ2
Interest in controlled corporations (Note 2)
աછجྠᛆू€ڝൗ2
Interest in a controlled corporation (Note 2)
աછجྠᛆू€ڝൗ2
Interest in a controlled corporation (Note 2)
աછجྠᛆू€ڝൗ2
Interest of spouse (Note 3)
ৣਅᛆू€ڝൗ3
Ms. Wong Orangeo Wendy Interest of spouse (Note 4)
ˮሬᅃɾɻ
Ms. Lee Shuk Fong ҽૺٹɾɻ
Ms. Tso Yin Wah ዲശɾɻ
Deputada Leong On Kei, Angela τᙄࡰ
ৣਅᛆू€ڝൗ4
Interest of spouse (Note 5)
ৣਅᛆू€ڝൗ5
Interest of spouse (Note 6)
ৣਅᛆू€ڝൗ6 Beneficial interest
Number of shares
ٰ΅ᅰͦ
Approximate percentage of the Company's total issued share capital
Ц͉ʮ̡Ό ʊ೯Бٰ͉ ฿ߒϵʱˢ
360,000,000 75.0%
360,000,000 75.0%
360,000,000 75.0%
360,000,000 75.0%
360,000,000 75.0%
360,000,000 75.0%
360,000,000 75.0%
360,000,000 75.0%
360,000,000 75.0%
360,000,000 75.0%
24,000,000 5.0%
ྼूᛆू
DISCLOSURE OF INTEREST (Continued)
B.
Substantial shareholder's and other person's interests and/or short positions in the shares and underlying shares of the
Company (Continued)
Long Positions in ordinary shares of the Company (Continued)
Notes:
1. The Company is owned as to 54.8% by Goody Luck
and 20.2% by Goody Capital after completion of the
capitalisation issue and the share offer. Goody Luck is
owned as to 98.6% by Mr. Peter Chan and 1.4% by Mr.
Kenneth Chan, and Goody Capital is owned as to 33.3%
by Mr. Desmond Chan, 33.3% by Mr. Chan Chi Ming and
33.3% by Mr. Kenneth Chan.
2. Mr. Peter Chan, Mr. Kenneth Chan, Mr. Chan Chi Ming and Mr. Desmond Chan are persons acting in concert pursuant to the Acting in Concert Confirmation and Undertaking and accordingly each of them is deemed to be interested in the shares held by the others. By the Acting In Concert Confirmation And Undertaking, with respect to the businesses of each member of the Group, (i) each of Mr. Peter Chan and Mr. Desmond Chan confirms that since 31 December 1990; (ii) each of Mr. Peter Chan, Mr. Desmond Chan and Mr. Chan Chi Ming confirms that since the 5 February 1991; and (iii) each of Mr. Peter Chan, Mr. Desmond Chan, Mr. Chan Chi Ming and Mr. Kenneth Chan confirms that since the 8 March 2010, (i) they have agreed to consult each other and reach an unanimous consensus among themselves on such matters being the subject matters of any shareholders' resolution, prior to putting forward such resolution to be passed at any shareholders' meeting of each member of the Group, and have historically voted on each resolutions in the same way; (ii) they have centralised the ultimate control and right to make final decisions with respect to their interests in the businesses and projects of members of the Group; and (iii) they have operated members of the Group as a single business venture on a collective basis and have made collective decisions in respect of the financial and operating policies of the members of the Group, and will continue to do so. As such, each of our controlling shareholders is deemed to be interested in 75% of the issued share capital of the Company.
3. Ms. Chan Lai Lin Diana is the spouse of Mr. Peter Chan. Under the SFO, Ms. Chan is deemed to be interested in the same number of shares in which Mr. Peter Chan is interested.
4. Ms. Wong Orangeo Wendy is the spouse of Mr. Kenneth Chan. Under the SFO, Ms. Wong is deemed to be interested in the same number of shares in which Mr. Kenneth Chan is interested.
5. Ms. Lee Shuk Fong is the spouse of Mr. Chan Chi Ming.
Under the SFO, Ms. Lee is deemed to be interested
in the same number of shares in which Mr. Chan Chi
Ming is interested.
6. Ms. Tso Yin Wah is the spouse of Mr. Desmond Chan. Under the SFO, Ms. Tso is deemed to be interested in the same number of shares in which Mr. Desmond Chan is interested.
ᛆूמᚣ€ᚃ
B. ˴ࠅٰ؇ʿՉ˼ɛɻ͉ʮٰ̡΅ ʿᗫٰ΅ʘᛆूʿŊא૱ࡑ€ᚃ
͉ʮ̡౷ஷٰʘλࡑ€ᚃ
ڝൗj
1. ҁϓ༟͉ʷ೯Бʿٰ΅೯ਯܝd͉ʮ̡ ͟ Goody Luck ʿ Goody Capital ʱйኹ Ϟ 54.8% ʿ 20.2%ᛆूfGoody Luck͟ ᚛͛͛ኹϞ98.6%ᛆूʿ͟қ͛ ኹϞ1.4%ᛆूdϾGoody Capitalۆ͟ ݆͛͛ኹϞ33.3%d͟қ͛ኹϞ 33.3%ʿ͟қ͛ኹϞ33.3%ᛆूf
2. ࣬ኽɓߧБਗᆽႩʿוፕd᚛͛͛e қ͛eқ͛ʿ݆͛͛މ ɓߧБਗɛɻdΪϤd־ഃІൖމ Չ˼ɓߧБਗɛɻהኹϞٰٙ΅ʕኹϞ ᛆूf࣬ኽɓߧБਗᆽႩʿוፕdᗫ͉ ණྠϓࡰʮุ̡ٙਕj(i)᚛͛͛ʿ ݆͛͛ІᆽႩІɓɘɘཧϋɤɚ˜ ɧɤɓ˚ৎi(ii)᚛͛͛e݆͛͛ ʿқ͛ІᆽႩІɓɘɘɓϋɚ˜ ʞ˚ৎiʿ(iii)᚛͛͛e݆͛͛e қ͛ʿқ͛ІᆽႩІɚཧ ɓཧϋɧ˜ɞ˚ৎj(i)־ഃΝจ̈ਗ਼ ͉ණྠϓࡰʮٰ̡؇ɽึɪஷཀٙ Оٰ؇Ӕᙄࣩۃdఱ༈ഃӔᙄࣩٙ˴ԫ ֝ഃԫ֝ʝਠʿ༺ߧᗆd˲־ഃཀ ֻɗ˸Νᅵ˙όఱ༈ഃӔᙄࣩҳୃi(ii)־ ഃʊණʕ௰છՓᛆʿఱ־ഃ͉ණྠϓ ࡰʮุ̡ٙਕʿධͦٙᛆूЪ̈௰Ӕ֛ ٙᛆлiʿ(iii)־ഃʊܲණਿᐄ༶͉ ණྠϓࡰʮ̡Ъఊɓุਕҳ༟d͵ʊఱ͉ ණྠϓࡰʮ̡ٙৌਕʿᐄ༶݁ഄЪ̈ණ Ӕ֛dԨਗ਼ᘱᚃνϤБԫfΪϤdછٰ ٰ؇ൖމ͉ʮ̡75%ٙʊ೯Бٰ͉ʕ ኹϞᛆूf
3. ᘆᇳɾɻމ᚛͛͛ٙৣਅf࣬ኽᗇ ՎʿಂૢԷdɾɻൖމ᚛͛ ͛ኹϞᛆूٙΝᅰٰͦ΅ʕኹϞᛆूf
4. ˮሬᅃɾɻމқ͛ٙৣਅf࣬ኽᗇ ՎʿಂૢԷdˮɾɻൖމқ ͛ኹϞᛆूٙΝᅰٰͦ΅ʕኹϞᛆूf
5. ҽૺٹɾɻމқ͛ٙৣਅf࣬ኽᗇ ՎʿಂૢԷdҽɾɻൖމқ ͛ኹϞᛆूٙΝᅰٰͦ΅ʕኹϞᛆूf
6. ዲശɾɻމ݆͛͛ٙৣਅf࣬ኽᗇ ՎʿಂૢԷdɾɻൖމ݆͛ ͛ኹϞᛆूٙΝᅰٰͦ΅ʕኹϞᛆूf
DISCLOSURE OF INTEREST (Continued)
B.
Substantial shareholder's and other person's interests and/or short positions in the shares and underlying shares of the
Company (Continued)
Short positions in shares of the Company or any of its associated corporation
As at 31 December 2020, no person, other than the directors and chief executive of the Company, whose interests are set out in the section headed "Directors' and chief executives' interest and/or short position in shares and underlying shares of the Company" above, had registered an interest or a short position in the shares or underlying shares of the Company as recorded in the register of interests required to be kept pursuant to Section 336 of the SFO.
ᛆूמᚣ€ᚃ
B. ˴ࠅٰ؇ʿՉ˼ɛɻ͉ʮٰ̡΅ ʿᗫٰ΅ʘᛆूʿŊא૱ࡑ€ᚃ
͉ʮ̡אՉОᑌجྠٰ΅ʘ૱ࡑ
ɚཧɚཧϋɤɚ˜ɧɤɓ˚dৰ͉ʮ̡ ԫ ʿ Б ݁ ᐼ € ־ ഃ ʘ ᛆ ू ༱ ɪ ˖˜ ԫʿБ݁ᐼ͉ʮٰ̡΅ʿᗫٰ΅ʘ ᛆूʿŊא૱ࡑ™ɓືʘ̮d฿ೌՉ˼ɛ ɻ͉ʮٰ̡΅אᗫٰ΅ʕኹϞ࣬ኽᗇ ՎʿಂૢԷୋ336ૢাɝ͉ʮ̡πໄٙ ᛆू೮া̅ʕٙᛆूא૱ࡑf
MODEL CODE FOR SECURITIES TRANSACTIONS BY DIRECTORS OF THE COMPANY
The Company has adopted the Model Code for Securities Transactions by Directors of Listed Issuers (the "Model Code") as set out in Appendix 10 to the Listing Rules as the Company's code of conduct for dealings in securities of the Company by the directors. Based on specific enquiry of the Company's directors, the directors have confirmed that they have complied with the required standard of dealings as set out in the Model Code, during the six months ended 31 December 2020 and up to the date of this report.
͉ʮ̡ԫආБᗇՎʹʘᅺς
ۆ
͉ʮ̡ʊમॶɪ̹ۆڝɤה༱ɪ̹೯Бɛ ԫආБᗇՎʹʘᅺςۆ€˜ᅺςۆ™Ъމ ԫආБ͉ʮ̡ᗇՎʹʘБމςۆfਿ͉ʮ̡ ԫהЪʘत֛ݟ༔dԫᆽႩ־ഃ͟࿚Їɚཧ ɚཧϋɤɚ˜ɧɤɓ˚˟ʬࡈ˜ʿٜЇ͉జѓ˚ ಂʊ፭ςᅺςۆה༱ʘ֛ʹۆආБf
PURCHASE, SALE OR REDEMPTION OF LISTED SECURITIES OF THE COMPANY
Neither the Company, nor any of its subsidiaries purchased, sold or redeemed any of the Company's listed securities during the six months ended 31 December 2020 and up to the date of this report.
ᒅ൯ëਯאᛙΫ͉ʮ̡ʘɪ̹ᗇՎ
࿚Їɚཧɚཧϋɤɚ˜ɧɤɓ˚˟ʬࡈ˜ʿٜ Ї͉జѓ˚ಂd͉ʮ̡אՉОڝ᙮ʮ̡฿ೌᒅ ൯ëਯאᛙΫ͉ʮ̡ʘОɪ̹ᗇՎf
CORPORATE GOVERNANCE
In the opinion of the Board of directors, the Company has complied with the applicable code provisions listed in the Corporate Governance Code (the "CG Code") as set out in Appendix 14 to the Listing Rules during the six months ended 31 December 2020 and up to the date of this report.
Άุ၍ط
ԫึႩމd͉ʮ̡࿚Їɚཧɚཧϋɤɚ˜ ɧɤɓ˚˟ʬࡈ˜ʿٜЇ͉జѓ˚ಂʊ፭ςɪ̹ ۆڝɤ̬ה༱ʘΆุ၍طςۆ€˜Άุ၍طς ۆ™ʫΐ༱ʘቇ͜ςۆૢ˖f
RESULTS
The Group's result for the six months ended 31 December 2020 send the state of affairs of the Company and the Group as that date are set out in the financial statements on pages 15 to pages 33.
ุᐶ
͉ණྠ࿚Їɚཧɚཧϋɤɚ˜ɧɤɓ˚˟ʬࡈ˜ ʘุᐶႭ͉ʮ̡ʿ͉ණྠ༈˚ʘԫਕًرd ༱ୋ15ࠫЇ33ࠫʘৌਕజڌʫf
DISCLOSURE OF CHANGES IN DIRECTORS' AND CHIEF EXECUTIVE'S INFORMATION PURSUANT TO
RULE 13.51B(1) OF THE LISTING RULES
Pursuant to Rule 13.51B(1) of the Listing Rules, there are no changes in information of the directors and the Company's chief executive during the six months ended 31 December 2020 and up to the date of this report.
࣬ኽɪ̹ۆୋ13.51B(1)ૢמᚣϞᗫ ԫʿБ݁ᐼٙ༟ࣘᜊਗ
࣬ኽɪ̹ۆୋ13.51B(1)ૢd࿚Їɚཧɚཧϋ ɤɚ˜ɧɤɓ˚˟ʬࡈ˜ʿٜЇ͉జѓ˚ಂd ԫʿ͉ʮ̡Б݁ᐼٙ༟ࣘԨೌᜊਗf
SHARE OPTION SCHEME
The Company conditionally adopted a share option scheme on 9 October 2017 (the "Scheme"). No share option has been granted since the adoption of the Scheme and there was no share option outstanding as at 31 December 2020.
ᒅٰᛆࠇྌ
͉ʮ̡ɚཧɓɖϋɤ˜ɘ˚Ϟૢમॶɓධᒅ ٰᛆࠇྌ€˜༈ࠇྌ™fІમॶ༈ࠇྌৎ฿ೌબ̈ ᒅٰᛆʿɚཧɚཧϋɤɚ˜ɧɤɓ˚Ԩೌ֠͊ БԴᒅٰᛆf
AUDIT COMMITTEE
The Audit Committee of the Company comprises three independent non-executive directors, namely Mr. Ng Sze Yuen, Terry, Dr. Chu Po Kuen, Louis and Mr. Wong Kam Fai. The audit committee of the Company has reviewed with no disagreements on the unaudited condensed consolidated interim results for the six months ended 31 December 2020 and the accounting principles and practices adopted by the Group.
ᄲࣨ։ࡰึ
͉ʮ̡ᄲࣨ։ࡰึ͟ɧΤዹͭڢੂБԫଡ଼ϓd ܼ̍юɻʩ͛eϡᗅᛆᔼ͛ʿරᎀሾ͛f͉ ʮ̡ᄲࣨ։ࡰึʊᄲቡ࿚Їɚཧɚཧϋɤɚ˜ ɧɤɓ˚˟ʬࡈ˜ʘ͊ᄲࣨᔊၝΥʕಂุᐶ ʿ͉ණྠהમॶʘึࠇࡡۆʿ੬d˲ఱϤԨೌ จԈʱf
By Order of the Board
Sun Hing Printing Holdings Limited Mr. Chan Peter Tit Sang
Chairman and Executive Director
וԫึն อጳΙՏછٰϞࠢʮ̡ ˴ࢩࡒੂБԫ ᚛͛͛
Hong Kong, 18 February 2021
࠰ಥdɚཧɚɓϋɚ˜ɤɞ˚
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Sun Hing Printing Holdings Ltd. published this content on 11 March 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 March 2021 08:33:09 UTC.