金輝集團有限公 司 股份代號 : 137 2024 年 報 2024 ANNUAL REPORT JINHUI HOLDINGS COMPANY LIMITED Stock Code: 137 Annual Report 2024 年 報 Jinhui Holdings Compa ny Limited 金輝集團有限公 司 目錄 | 2 | 公司資料 | | --- | --- | | 3 | 主席報告書 | | 5 | 策略及業務簡介 | | 9 | 概要 | | 13 | 企業管治報告書 | | 32 | 環境、社會及管治報告 | | 55 | 管理層討論及分析 | | 71 | 董事會及高級管理人員 | | 73 | 董事會報告書 | | 83 | 獨立核數師報告書 | | 88 | 綜合損益及其他全面收益表 | | 90 | 綜合財務狀況表 | | 92 | 綜合權益變動表 | | 93 | 綜合現金流量表 | | 94 | 綜合財務報告附註 | | 172 | 詞彙 | 金輝集團有限公司 2024 年報 1 174 附錄 公司資料 提名委員會 崔建華 （主席） 徐志賢 邱威廉 公司秘書 何淑蓮 董事 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈之內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不就因本公佈全部或任何部份內容而產生或因倚賴 該等內容而引致之任何損失承擔任何責任。 JINHUI HOLDINGS COMPANY LIMITED 金輝集團有限公司 （於香港註冊成立之有限公司） 股份代號︰137 2024 年度業績公佈 金輝集團2024年度全年業績 第 1 頁 • 年內營業收入︰十二億三千九百萬港元 • 年內扣除利息、稅項、折舊及攤銷前盈利︰ 五億四千三百萬港元 • 年內溢利淨額︰一億四千二百萬港元 包括本集團船隊之非現金減值虧損撥回 五千一百萬港元 • 本公司股東應佔溢利淨額︰五千九百萬港元 • 每股基本盈利︰0.112港元 • 於2024年12月31日之資本負債比率︰19% 管理層討論及分析 概要 2024年度 於 2024 年，受到製造業穩定反彈及地緣政治事件導致之供應鏈中斷得以解決之推動下，全 球航運市場經歷普遍復甦。對比去年，波羅的海航運指數按年平均上升 27%。本集團亦擴 充其船隊規模，包括自置船舶及租賃船舶，以至船隊總載重量運載能力從去年之 一百四十 萬公 ...

2024 2024 中 期 報 告 INTERIM REPORT 金輝集團有限公 司 股份代號: 137 | --- | --- | |--------------------------------|-------| | | | | | | | | | | | | | | 目 錄 | | | | | | 頁次 | | 公司资料 . . | 2 | | 財務概要 . . | 3 | | 管理層討論及分析 . . . . . . | 4 | | 權益之披露 ... | 18 | | 企業管治 ...... | 22 | | 補充資料 ...... | 25 | | 簡明綜合損益及其他全面收益表 . | 26 | | 簡明綜合財務狀況表 ... | 28 | | 簡明綜合權益變動表 ... | 30 | | 簡明綜合現金流量表 ... | 32 | | 中期財務報告附註 . . . . . . | 33 | 金輝集團有限公司 1 公司資料 董事會 執行董事 吳少輝（主席） 吳錦華（董事總經理） 吳其鴻 何淑蓮 獨立非執行董事 崔建華 徐志賢 邱威廉 審核委員會 徐志賢（主席） 崔建華 邱威廉 薪酬委員會 崔建華（ ...

Financial Performance - The group recorded operating revenue of HKD 539,284,000 for the first half of 2024, an increase of 86% compared to HKD 290,370,000 in the same period of 2023[3]. - The net profit for the period was HKD 66,900,000, a significant recovery from a net loss of HKD 162,477,000 in the first half of 2023[3]. - Basic earnings per share for the period were HKD 0.053, compared to a basic loss per share of HKD 0.181 in the same period of 2023[3]. - Operating revenue from freight and chartering increased by 86% to HKD 539,284,000 compared to HKD 290,370,000 in the first half of 2023[13]. - The company reported a net profit attributable to shareholders of HKD 28,117,000 in the first half of 2024, compared to a net loss of HKD 95,911,000 in the same period of 2023[13]. - Total comprehensive income for the period amounted to HKD 57,292,000, a turnaround from a comprehensive loss of HKD 163,648,000 in the prior year[38]. - The company achieved a net profit of HKD 66,900,000 for the six months ended June 30, 2024, compared to a net loss of HKD 162,477,000 in the same period last year[39]. - The net profit for the six months ended June 30, 2024, was HKD 28,117,000, compared to HKD 38,783,000 for the same period in 2023, representing a decrease of 27.4%[43]. Operational Metrics - The average daily charter rate for the fleet increased by 66% to USD 13,939 (approximately HKD 109,000) compared to USD 8,379 (approximately HKD 65,000) in the first half of 2023[3]. - The Baltic Dry Index averaged 1,836 points in the first half of 2024, compared to 1,157 points in the same period of 2023[5]. - The daily operating cost of owned vessels decreased from USD 5,436 (approximately HKD 43,000) in the first half of 2023 to USD 5,115 (approximately HKD 40,000) in the first half of 2024[7]. - The group operated a fleet of 23 owned vessels and 10 chartered vessels, with a total carrying capacity of approximately 2,020,000 tons as of June 30, 2024[8]. - The average daily charter rates for the Panama fleet and the ultra-large/super-large fleet were reported at $17,478 (about HKD 136,000) and $13,560 (about HKD 106,000) respectively, with an overall average of $13,939 (about HKD 109,000)[13]. Capital Expenditures and Investments - The company acquired two second-hand vessels for a total price of approximately $62,072,000 (about HKD 484,165,000) and committed to purchasing two new vessels at $34,000,000 each (about HKD 265,200,000) for delivery in 2026 and 2027[10]. - The capital expenditure for new vessels and dry-docking was HKD 253,874,000 in the first half of 2024, compared to HKD 17,197,000 in the same period of 2023[23]. - The group has entered into agreements to acquire a Capesize vessel for approximately HKD 241,410,000, which was delivered in August 2024[24]. - The group has entered into a contract to acquire another Capesize vessel for approximately HKD 187,200,000, expected to be delivered in Q4 2024[26]. - The group’s capital commitments as of June 30, 2024, include unprovided capital expenditures of approximately HKD 217,269,000 related to a vessel acquisition[72]. Financial Position - The capital-to-debt ratio as of June 30, 2024, was 10%[1]. - The total amount of secured bank loans decreased from HKD 808,682,000 as of December 31, 2023, to HKD 624,438,000 as of June 30, 2024[21]. - The company's total equity increased to HKD 2,875,600,000 as of June 30, 2024, compared to HKD 2,818,308,000 at the end of 2023[41]. - The carrying value of right-of-use assets and lease liabilities as of June 30, 2024, were HKD 318,743,000 and HKD 379,451,000 respectively, compared to HKD 164,541,000 and HKD 227,281,000 as of December 31, 2023[12]. - The total liabilities as of June 30, 2024, were HKD 117,953,000, a decrease from HKD 128,259,000 as of December 31, 2023[67]. Cash Flow and Liquidity - The net cash generated from operating activities for the first half of 2024 was HKD 236,521,000, significantly up from HKD 30,029,000 in the same period of 2023[20]. - The group incurred a net cash outflow of HKD 190,796,000 for investing activities in the first half of 2024, compared to HKD 9,657,000 in the same period of 2023[20]. - The total cash outflow for leases in the first half of 2024 was HKD 52,848,000, compared to HKD 17,694,000 in the same period of 2023[17]. - The cash and cash equivalents decreased by HKD 190,113,000, compared to a decrease of HKD 40,274,000 in the previous year[44]. Corporate Governance - The board of directors has complied with the corporate governance code, with deviations explained in the report[30]. - Three independent non-executive directors have served for over nine years, and the company is in the process of identifying suitable candidates for new appointments[32]. - The roles of the chairman and the managing director are not separated, which deviates from the corporate governance code, but the board believes this arrangement benefits the company[33]. - The company has decided not to establish an internal audit department due to its size and operational structure, with the audit committee performing internal audit functions as needed[34]. - All directors have confirmed compliance with the trading standards for securities transactions as of June 30, 2024[35]. Market Outlook - The dry bulk shipping trade demand remains stable in 2024, with expectations for a strong freight market for the remainder of the year due to positive ton-mile effects and balanced supply-demand dynamics[29]. - New ship ordering has become increasingly expensive due to limited berths and longer delivery times, resulting in strong second-hand ship values[29]. - The company is positioned to benefit from a potential recovery in global economic activity, with a focus on seeking opportunities to renew the fleet at reasonable prices[29]. - The company will remain vigilant regarding economic, geopolitical, or unforeseen events that may impact business performance and asset valuations[29].

Financial Performance - Revenue from freight and chartering decreased by 46% to HKD 638,573,000 in 2023, compared to HKD 1,189,232,000 in 2022[5] - The company recorded a net loss of HKD 461,805,000 in 2023, including vessel impairment losses of HKD 109,286,000 and right-of-use asset impairment losses of HKD 44,406,000, compared to a net loss of HKD 70,179,000 in 2022[5] - Basic loss per share for 2023 was HKD 0.512, compared to HKD 0.086 in 2022[5] - The company reported a net loss of HKD 461,805,000 for the year, compared to a net profit of HKD 1,498,072,000 in the previous year[38] - The total comprehensive loss for the year amounted to HKD 475,104,000, reflecting a significant decline from previous years[38] - The net loss attributable to shareholders for 2023 was HKD 271,527,000, compared to a net loss of HKD 45,595,000 in 2022, indicating a worsening financial situation[155] Revenue and Market Conditions - The bulk shipping market faced challenges in 2023, with weak demand leading to soft freight rates for most of the year, although demand began to increase in Q4 2023[17] - For the year ending December 31, 2023, the company reported a revenue decrease of 46% to HKD 638,573,000 from HKD 1,189,232,000 in 2022 due to a weak shipping market[31] - Revenue from Asia (excluding China) accounted for 64.4% of total revenue in 2023, down from 83.2% in 2022[46] - Revenue from China increased to 15.0% in 2023, up from 7.0% in 2022, indicating a significant growth in this market[46] Fleet and Operational Efficiency - Average daily charter rates fell by 52% to USD 9,063 (approximately HKD 71,000) in 2023, down from USD 18,813 (approximately HKD 147,000) in 2022[5] - The fleet utilization rate increased from 96% in 2022 to 99% in 2023, indicating improved operational efficiency[31] - The daily operating cost per vessel decreased from USD 5,656 (approximately HKD 44,000) in 2022 to USD 5,569 (approximately HKD 43,000) in 2023, primarily due to lower crew costs[31] - The average daily time charter rates for the super handymax fleet dropped to USD 8,892 in 2023 from USD 18,681 in 2022, highlighting market challenges[149] Corporate Governance - The company is in the process of appointing a new independent non-executive director to comply with corporate governance codes[73] - The board consists of seven members, including four executive directors and three independent non-executive directors, ensuring a balanced governance structure[83] - The company emphasizes improving corporate governance to enhance decision-making and transparency for shareholders[76] - The nomination committee, established on January 1, 2013, currently comprises three independent non-executive directors, ensuring independent oversight in director appointments[90] - The board's composition and the effectiveness of the diversity and nomination policies were reviewed, and deemed effective and appropriate[91] Cost Management and Future Strategies - The company plans to continue efforts to reduce costs and maintain a competitive cost structure compared to other market participants[31] - The company is actively seeking to modernize its fleet by acquiring a new super handymax vessel and selling three older vessels[5] - The company aims to maintain a flexible chartering policy to balance long-term contracts with opportunities for spot contracts as market conditions improve[7] - The company is focusing on expanding its customer base across a balanced and diverse geographical region, particularly in Asia[45] Employee and Community Engagement - The company had 66 full-time employees as of December 31, 2023, an increase from 65 in 2022, with 37 male and 29 female employees[125] - The percentage of serious work-related injuries in 2023 was 0.5%, a slight decrease from 0.6% in 2022, with only 12 workdays lost due to injuries compared to 61 in the previous year[132] - The company’s charity donations amounted to HKD 79,000 in 2023, down from HKD 91,000 in 2022, indicating a potential shift in community investment strategy[142] Asset Management - As of December 31, 2023, the company owned 23 self-owned vessels and employed 544 crew members[11] - As of December 31, 2023, the company's non-current assets amounted to HKD 3,213,591, a decrease from HKD 3,714,794 in 2022[75] - The company's net asset value decreased to HKD 2,818,308 from HKD 3,319,124 in 2022, representing a decline of about 15%[75] - The fair value of investment properties decreased from HKD 373,330,000 in 2022 to HKD 339,680,000 in 2023[192]

Financial Performance - The company reported a net loss attributable to shareholders of HKD 271,527,000 for 2023, compared to a loss of HKD 45,595,000 in 2022, indicating a significant increase in losses[7]. - The company recorded a net loss of HKD 462 million for the year, which includes a non-cash impairment loss of HKD 154 million related to the fleet[83]. - The consolidated net loss for 2023 amounted to HKD 461,805,000, including vessel impairment losses of HKD 109,286,000 and right-of-use asset impairment losses of HKD 44,406,000[120]. - The loss attributable to shareholders for 2023 was HKD 271,527,000, compared to a loss of HKD 45,595,000 in 2022[120]. - The company's operating revenue for 2023 decreased by 46% to HKD 638,573,000 compared to HKD 1,189,232,000 in 2022[100]. - The revenue from time charter income for 2023 was HKD 638,573,000, down from HKD 1,189,232,000 in 2022, showing a decline in chartering activities[171]. - The average daily charter rate earned by the fleet dropped by 52% to USD 9,063 (approximately HKD 71,000) in 2023, down from USD 18,813 (approximately HKD 147,000) in 2022[66]. - The average daily charter rate for the fleet decreased by 52% to USD 9,063 (approximately HKD 71,000) in 2023, down from USD 18,813 (approximately HKD 147,000) in 2022[112]. - The group reported a loss from joint investment projects of approximately HKD 16,667,000, down from HKD 22,315,000 in 2022, indicating an improvement in performance[33]. Asset and Investment Management - The company recognized a loss of HKD 10,047,000 related to the impairment of assets classified as held for sale during the year[19]. - The impairment loss for owned bulk carriers recognized as of December 31, 2023, amounted to HKD 109,286,000, a decrease from HKD 384,742,000 in 2022, reflecting changes in the group's expectations for the global economy and the bulk shipping industry[44]. - The carrying value of the fleet and capitalized dry-docking costs as of December 31, 2023, was HKD 2,534,585,000, down from HKD 2,927,614,000 in 2022[94]. - The fair value of the group's investment properties as of December 31, 2023, was HKD 339,680,000, down from HKD 373,330,000 in 2022, with total rental income recognized at HKD 6,448,000[51]. - The company recognized a fair value loss of HKD 8,735,000 related to the reclassification of leasehold land and buildings to investment properties[168]. - The total financial assets at fair value through profit or loss decreased to HKD 202,610,000 in 2023 from HKD 244,979,000 in 2022[193]. - The company has a receivable of HKD 12,304,000 from joint investment projects, up from HKD 10,475,000 in 2022[16]. - The group has committed to acquiring a Panama-type vessel for USD 31,122,450 (approximately HKD 242,755,000), with delivery scheduled between April 1, 2024, and June 15, 2024[199]. Capital Expenditures and Financing - The company incurred capital expenditures of HKD 188,918,000 for new vessels and HKD 884,000 for other properties, machinery, and equipment in 2023, a decrease from HKD 1,095,764,000 in 2022[26]. - The total amount of secured bank loans increased from HKD 769,730,000 on December 31, 2022, to HKD 808,682,000 on December 31, 2023[57]. - The company has drawn new secured bank loans amounting to HKD 450,035,000 in 2023, compared to HKD 521,500,000 in 2022[25]. - The company completed agreements to sell three super handymax vessels for a total consideration of USD 28,160,000 (approximately HKD 219,648,000), incurring a total loss of HKD 6,866,000 upon completion[68]. - The company completed the sale of two super large bulk carriers for a total consideration of USD 17,730,000 (approximately HKD 138,294,000) during the year[146]. Operational Efficiency - Operating expenses related to shipping decreased from HKD 520,989,000 in 2022 to HKD 456,225,000 in 2023, primarily due to reduced crew costs and the lifting of COVID-related restrictions[45]. - Daily operating costs for vessels decreased from $5,656 in 2022 to $5,569 in 2023, primarily due to lower crew costs[79]. - The fleet utilization rate increased from 96% in 2022 to 99% in 2023, demonstrating improved operational efficiency[79]. - Cash generated from operating activities before changes in working capital was HKD 64,704,000 in 2023, significantly lower than HKD 579,590,000 in 2022[56]. - Cash generated from operating activities decreased to HKD 156,925,000 in 2023 from HKD 718,077,000 in 2022, reflecting a decline in operational efficiency[169]. Market Conditions and Future Outlook - The company anticipates a stabilization and recovery in global economic growth, which may lead to improved freight rates in the bulk shipping sector[41]. - The shipping market has been affected by macroeconomic fluctuations, with management noting signs of impairment in the fleet's carrying value due to decreased market values of bulk carriers[42]. - The Baltic Dry Index averaged 1,378 points in 2023, down from 1,934 points in 2022, indicating a challenging market environment[77]. - The company experienced a significant decline in freight rates due to macroeconomic fluctuations, contrasting with strong demand for bulk dry cargo in 2022[112]. - The company aims to modernize its fleet by potentially selling older vessels and replacing them with newer, larger-capacity vessels[75]. Shareholder Returns - The company’s dividend for the year was not declared, compared to a final dividend of HKD 10,606,000 in 2022[8]. - The company will not declare any final dividends for the year ending December 31, 2023, due to the net loss incurred[76]. - The company paid a final dividend of HKD 10,606,000 in 2023, compared to HKD 31,817,000 in 2022, indicating a reduction in shareholder returns[169].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈之內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不就因本公佈全部或任何部份內容而產生或因倚賴 該等內容而引致之任何損失承擔任何責任。 JINHUI HOLDINGS COMPANY LIMITED 金 輝 集 團 有限 公 司 （於香港註冊成立之有限公司） 股份代號︰137 截至 2023 年 6 月 30 日止六個月之 中期業績 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈之內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不就因本公佈全部或任何部份內容而產生或因倚賴 該等內容而引致之任何損失承擔任何責任。 JINHUI HOLDINGS COMPANY LIMITED 金 輝 集 團 有限 公 司 （於香港註冊成立之有限公司） 股份代號︰137 二零二二年度業績公佈 ...

金輝集團有限公 司 股份代號: 137 2022 2022 中 期 報 告 INTERIM REPORT 頁次 公司資料 ....... 2 財務概要 ... 3 4 管理層討論及分析 權益之披露 ...... 17 . . 21 企業管治 ... 23 補充資料 ... .. 目 錄 | --- | --- | |------------------------------------------------------------|-------| | | | | 簡明綜合損益及其他全面收益表 ... . | 24 | | 簡明綜合財務狀況表 ... ... ... ... ... ... ... ... ... ... | 26 | | 簡明綜合權益變動表. . | 28 | | 簡明綜合現金流量表. . | 29 | | 中期財務報告附註 . | 30 | 全輝集團有限公司 1 公司資料 | --- | --- | |--------------------------------------------------------------|------------------------------ ...

金輝集團有限公 司 股份代號 : 137 2021 年 報 | --- | --- | --- | --- | |-------|-------|-------|--------------------------| | | | | | | | | | | | | | 目錄 | | | | | | | | | | 2 3 | 公司資料 主席報告書 | | | | 5 | 策略及業務簡介 | | | | | | | | | 7 | 概要 | | | | 11 | 企業管治報告書 | | | | 27 | 環境、社會及管治報告 | | | | 37 | 管理層討論及分析 | | | | 53 | 董事會及高級管理人員 | | | | 55 | 董事會報告書 | | | | 65 | 獨立核數師報告書 | | | | 70 | 綜合損益及其他全面收益表 | | | | 72 | 綜合財務狀況表 | | | | 74 | 綜合權益變動表 | | | | 75 | 綜合現金流量表 | | | | 76 | 綜合財務報告附註 | | | | 146 | 詞彙 | | | | 148 | 附錄 | 1 金輝集團有限公司 2 ...