年報2024 ANNUAL REPORT 2024 Vietnam Manufacturing and Export Processing (Holdings) Limited 越南製造加工出口(控股)有限公司 Vietnam Manufacturing and Export Processing (Holdings) Limited 越南製造加工出口(控股)有限公司 （股份代號:422） （於開曼群島註冊成立之有限公司） Vietnam Manufacturing and Export Processing (Holdings) Limited 越南製造加工出口(控股)有限公司 （股份代號:422） （於開曼群島註冊成立之有限公司） ANNUAL REPORT 2024 年報 Vietnam Manufacturing and Export Processing (Holdings) Limited 目 錄 (Stock Code: 422) (Incorporated in the Cayman Islands with limited liability) Vietnam Manufacturing a ...

Financial Performance - Revenue for the year ended December 31, 2024, was $81.1 million, a decrease of 22.8% from $105.1 million in 2023[3] - Gross profit fell to $7.3 million, down 52.8% from $15.5 million in the previous year[3] - The company reported a net loss of $3.8 million, compared to a profit of $1.7 million in 2023, representing a decline of 323.5%[3] - Basic and diluted loss per share was $(0.0042), compared to earnings of $0.0019 per share in 2023[7] - Total comprehensive loss for the year was $(6.155 million), a significant drop from a comprehensive income of $254,775 in the previous year[7] - The company reported a total pre-tax loss of $(3,524,562) for 2024, compared to a pre-tax profit of $1,857,866 in 2023[24] - The company reported a pre-tax loss of $3,844,473 for 2024, compared to a profit of $1,686,198 in 2023, resulting in a basic loss per share of $0.0042 for 2024, down from a profit of $0.0019 per share in 2023[34] - The company recorded an operating loss of $2.8 million for the fiscal year ending December 31, 2024, compared to an operating profit of $1.9 million for the fiscal year ending December 31, 2023[61] - The company's net loss margin increased from a net profit margin of 1.6% for the fiscal year ending December 31, 2023, to a net loss margin of 4.7% for the fiscal year ending December 31, 2024[65] Revenue Breakdown - Total revenue for the manufacturing and sales of motorcycles decreased to $72,781,261 in 2024 from $95,887,544 in 2023, representing a decline of approximately 24%[20] - Revenue from the manufacturing and sales of spare parts and engines decreased to $8,357,169 in 2024 from $9,260,375 in 2023, a decrease of about 10%[20] - The total reported segment revenue for 2024 was $98,605,201, down from $134,209,819 in 2023, indicating a decline of approximately 26.5%[24] - Revenue from Vietnam increased to $40,759,244 in 2024 from $36,131,761 in 2023, showing an increase of about 7%[27] - Revenue from Malaysia surged to $20,239,131 in 2024 from $6,754,409 in 2023, marking an increase of approximately 199%[27] Assets and Liabilities - Non-current assets decreased to $7.79 million from $8.49 million in 2023, reflecting a decline of 8.3%[9] - Current assets totaled $95.57 million, down from $97.61 million in 2023, a decrease of 2.1%[9] - Current liabilities increased to $56.30 million from $52.75 million, marking a rise of 6.5%[9] - The company's equity attributable to owners decreased to $44.98 million from $51.13 million, a decline of 12.1%[10] - The total amount of trade and other payables rose from $9,746,471 in 2023 to $22,220,446 in 2024, an increase of about 128.5%[45] Expenses - Research and development expenses decreased to $1,722,989 in 2024 from $2,420,421 in 2023, indicating a reduction of approximately 29%[30] - The total cost of goods sold was $73,851,650 in 2024, compared to $89,657,485 in 2023, reflecting a decrease of about 17.7%[40] - Employee costs totaled $9,340,639 in 2024, down from $10,642,128 in 2023, marking a reduction of about 12.2%[28] - The total salary and related costs for the year ending December 31, 2024, were approximately $10.5 million, a decrease from $12.0 million in 2023, with a total of 1,014 employees as of December 31, 2024[69] - The total interest expense for 2024 was $2,560,684, compared to $2,930,985 in 2023, showing a decrease of approximately 12.6%[28] Inventory and Provisions - The company reported inventory write-downs of $1,668,167 in 2024, significantly higher than $196,144 in 2023, indicating a substantial increase in inventory losses[30] - The company’s total inventory value was $22,292,912 in 2024, slightly down from $22,853,016 in 2023, reflecting a decrease of about 2.4%[38] - The company reported a total inventory provision of $3,934,206 as of December 31, 2024, up from $2,751,978 in 2023, representing an increase of approximately 43.0%[41] Market and Economic Conditions - The overall economic growth rate (GDP) in Vietnam for 2024 is projected to be 7.09%, indicating a recovery in economic activity[50] - The company’s exports to ASEAN countries decreased by 41.0% compared to the previous year, with total sales of scooters and national vehicles amounting to approximately 27.6 thousand units[51] - The company's total sales volume to ASEAN countries decreased, primarily due to conservative consumer purchasing power in Thailand, leading to a decline in overall motorcycle sales compared to the same period last year[53] Future Outlook and Strategy - The company plans to actively explore new models and customers to seek business growth opportunities and enhance revenue[55] - The group plans to launch two to three new or modified motorcycle models in the Vietnamese market, including scooters and national vehicles, to enhance product diversification and profitability[71] - The outlook for 2025 indicates potential market demand growth due to global interest rate cuts and lower commodity prices, although uncertainties remain due to US trade policies[70] - The group is actively seeking to enhance long-term profitability and aims to provide the best returns to its shareholders[72] Dividends and Shareholder Returns - The board did not recommend a final dividend for the year ended December 31, 2024[3] - The board of directors does not recommend the payment of a final dividend for the year ending December 31, 2024 (2023: none) [90] Corporate Governance and Compliance - The company has maintained sufficient public float as required by listing rules for the year ending December 31, 2024, and as of the announcement date [91] - The annual performance announcement will be published on the Hong Kong Stock Exchange's disclosure website and the company's website [92]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表 任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因依賴該等內容而引致的任何損失承擔任 何責任。 越南製造加工出口（控股）有限公司（「本公司」）謹此宣佈本公司及其附屬公司（統稱「本 Vietnam Manufacturing and Export Processing (Holdings) Limited 越南製造加工出口(控股)有限公司 (於開曼群島註冊成立的有限公司) (股份代號：422) 公 告 截至二零二四年九月三十日止九個月之 未經審核業績 | --- | --- | --- | --- | |---------------------|---------------------------|----------------------------------------------------|-------------------------------| | 財務摘要： | 二零二四年 \n( 未經審核 ) | 截至九月三十日止九個月 \n二零二三年 \n( 未經審核 ) | （以百 ...

Financial Performance - The company's revenue for the six months ended June 30, 2024, was $32.8 million, a decrease of 45.9% from $60.6 million for the same period in 2023[6]. - The company recorded a net loss of $2.4 million for the six months ended June 30, 2024, compared to a net profit of $3.0 million for the same period in 2023, a decrease of $5.4 million[6]. - Revenue for the six months ended June 30, 2024, was $32,849,975, a decrease of 46.1% compared to $60,607,091 for the same period in 2023[42]. - Gross profit for the same period was $2,832,826, down 66.5% from $8,456,522 in 2023[42]. - The group reported a pre-tax loss of $2,418,066 for the six months ended June 30, 2024, compared to a pre-tax profit of $3,008,031 for the same period in 2023[55]. - The total comprehensive loss for the period was $4,738,801, compared to a comprehensive income of $2,932,094 in 2023[43]. - The group reported an operating loss of $2,418,353 for the six months ended June 30, 2024, compared to a profit of $3,001,138 for the same period in 2023, resulting in a basic loss per share of $0.0027[61]. Sales and Market Performance - Total sales in Vietnam reached approximately 21.4 thousand units, an increase of 37.2% year-on-year, with scooters accounting for about 6.8 thousand units and national motorcycles for 14.6 thousand units[5]. - Sales of scooters and national motorcycles exported to ASEAN countries totaled approximately 11.1 thousand units, a decrease of 66.6% compared to the same period last year[5]. - The decline in sales to ASEAN countries was attributed to conservative consumer purchasing power in key markets like Malaysia, the Philippines, and Thailand, influenced by currency depreciation against the US dollar[5]. - The company plans to expand its market presence beyond ASEAN countries to Europe and the Middle East, aiming to diversify sales channels and enhance market competitiveness[5]. Cost and Expenses - The group's cost of sales for the six months ended June 30, 2024, was $30.0 million, a decrease of 42.5% from $52.2 million for the same period in 2023[8]. - Distribution expenses decreased by 36.7% to $1.9 million for the six months ended June 30, 2024, compared to $3.0 million for the same period in 2023[10]. - Administrative and other operating expenses decreased by 8.8% to $3.1 million for the six months ended June 30, 2024, from $3.4 million for the same period in 2023[11]. - The group’s employee costs for the six months ended June 30, 2024, totaled $4,884,839, down from $5,799,568 in the same period of 2023, reflecting a decrease of 15.8%[57]. Assets and Liabilities - As of June 30, 2024, the group's current assets were $91.9 million, down from $97.6 million as of December 31, 2023[16]. - The group reported a total equity of $46,398,720 as of June 30, 2024, down from $51,137,521 at the end of 2023, a decrease of about 9.2%[45]. - The company’s total liabilities decreased to $2,090,013 from $2,170,072, reflecting a decrease of about 3.7%[44]. - Current liabilities increased to $51,326,253 from $52,797,600, indicating a decrease of about 2.8%[44]. Cash Flow and Financing - Cash and cash equivalents stood at $21,972,259 as of June 30, 2024, up from $8,857,049, reflecting a significant increase of approximately 148.5%[49]. - The net cash flow from operating activities for the six months ended June 30, 2024, was $6,683,036, compared to a negative cash flow of $(3,217,501) for the same period in 2023[49]. - The net cash flow from investing activities for the first half of 2024 was $8,385,622, compared to $2,848,463 in the same period of 2023, indicating a substantial increase[49]. - The company’s borrowings amounted to $42,098,345 for the first half of 2024, compared to $63,182,782 in the previous year, showing a decrease of about 33.3%[49]. Strategic Initiatives - The company aims to continue developing new models and seeking business growth opportunities to enhance revenue and create higher value[7]. - The company plans to enhance brand awareness through targeted marketing campaigns and expand market coverage to attract more potential consumers[26]. - The company aims to strengthen product design and core technology development as part of its focus on product innovation[26]. - The company is focusing on expanding its market presence and enhancing its product offerings through strategic acquisitions and partnerships, as evidenced by the increase in related party transactions[69]. Related Party Transactions - The company has engaged in related party transactions with various subsidiaries, including Sanyang Motor Colombia S.A.S. and Vietnam Sanyang Machinery Industry Joint Stock Company, indicating ongoing strategic partnerships[69]. - The total receivables from related parties as of June 30, 2024, were $492,837, a significant increase from $99,729 as of December 31, 2023, representing a growth of approximately 393%[70]. - The total payables to related parties as of June 30, 2024, were $6,248,339, compared to $1,309,586 as of December 31, 2023, indicating an increase of approximately 377%[70]. Governance and Compliance - The financial results were reviewed by KPMG, confirming compliance with applicable accounting standards[38]. - The company continues to adhere to corporate governance practices as outlined in the listing rules[35]. - There were no significant events after June 30, 2024, that could impact the group[37].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表 任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因依賴該等內容而引致的任何損失承擔任 何責任。 Vietnam Manufacturing and Export Processing (Holdings) Limited 越南製造加工出口(控股)有限公司 (於開曼群島註冊成立的有限公司) (股份代號：422) 截至二零二四年六月三十日止六個月 中期業績公告 | --- | --- | --- | --- | |-----------------------------|------------|-------------------------------------|-------------------------------| | 財務摘要： | 二零二四年 | 截至六月三十日止六個月 \n二零二三年 | （以百萬美元表示） \n變動金額 | | ‧收入 | 32.8 | 60.6 | (27.8) | | ‧毛利 | 2.8 | 8.5 | (5.7) | | ‧稅後（虧損）／利潤 | ( ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表 任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因依賴該等內容而引致的任何損失承擔任 何責任。 公 告 截至二零二四年三月三十一日止三個月之 未經審核業績 越南製造加工出口（控股）有限公司（「本公司」）謹此宣佈本公司及其附屬公司（統稱「本 集團」）截至二零二四年三月三十一日止三個月之未經審核綜合業績。本公告乃就本公司每季 公佈本集團財務業績之現行慣例，按照香港聯合交易所有限公司證券上市規則第13.09條及香 港法例第571章證券及期貨條例第XIVA部項下內幕消息條文而發佈。 香港，二零二四年五月十三日 1 | --- | --- | --- | |---------------------------------------------------------------|----------------------|-----------------------------------------------| | 收 入 | 美 元 二零二四年 | 截至三月三十一日止三個月 \n 美 元 二零 ...

Economic Outlook - The company anticipates ongoing challenges in the global economy for 2024, including inflation and high interest rates, which are expected to negatively impact consumer sentiment and the motorcycle manufacturing and sales industry[1]. Financial Performance - The company's revenue for the fiscal year ending December 31, 2023, was $105.1 million, a decrease of 20.9% from $132.9 million in 2022[42]. - The net profit for the fiscal year 2023 was $1.7 million, improving from a net loss of $0.2 million in 2022, representing a $1.9 million improvement[41]. - Total sales volume in Vietnam for 2023 was approximately 39.5 thousand units, a decrease of 13.0% compared to the previous year[39]. - Exports to ASEAN countries decreased, with total sales of scooters and national vehicles amounting to approximately 46.8 thousand units, down 26.9% year-on-year[39]. - The total assets as of December 31, 2023, were $106.1 million, down from $127.0 million in 2022[27]. - The total liabilities decreased to $55.0 million in 2023 from $76.1 million in 2022[27]. - The equity return rate improved to 3.3% in 2023 from a negative 0.4% in 2022[27]. - Domestic sales revenue in Vietnam decreased by 8.1% to $36.1 million for the year ended December 31, 2023, down from $39.3 million for the year ended December 31, 2022[43]. - Gross profit increased by $1.9 million to approximately $15.5 million, with a gross margin improvement of 4.5 percentage points to 14.7% for the year ended December 31, 2023[44]. - Sales cost decreased by 24.8% to $89.7 million for the year ended December 31, 2023, from $119.3 million for the year ended December 31, 2022, resulting in a sales cost ratio reduction from 89.8% to 85.3%[46]. - Net profit for the year ended December 31, 2023, was $1.7 million, an improvement of $1.9 million from a net loss of $0.2 million for the year ended December 31, 2022, resulting in a net profit margin of 1.6%[51]. - Administrative and other operating expenses increased by 11.3% to $7.9 million for the year ended December 31, 2023, from $7.1 million for the year ended December 31, 2022[54]. Strategic Initiatives - The company plans to adopt a more flexible and diversified procurement strategy for raw materials and components to reduce production costs and enhance efficiency[1]. - The company plans to launch multiple new or revamped motorcycle models in Vietnam, ASEAN countries, Europe, and the Middle East to enhance product diversification and market share[68]. - The company will continue to expand sales and maintenance service points to improve customer service and brand loyalty[68]. - The company is actively exploring markets outside ASEAN, including Europe and the Middle East, with sales in Dubai increasing by 25.3% compared to 2022[36]. - The company is committed to developing multiple electric vehicle models in addition to gasoline motorcycles, emphasizing lightweight design and user convenience[183]. Corporate Governance and Compliance - The company emphasizes high standards of corporate governance and compliance with national laws and regulations[79][80]. - The company has not changed its auditor in the past three years, with a resolution to reappoint KPMG as the auditor to be presented at the upcoming annual general meeting[109]. - The board has established an ESG governance structure to enhance management of ESG initiatives, with specific goals set for sustainable development[121]. - The company has adopted the corporate governance code as per the Hong Kong Stock Exchange's listing rules and has complied with all applicable provisions[196]. - The board of directors is responsible for monitoring the company's business and management affairs, ensuring a balanced composition of executive and non-executive directors[197]. Environmental, Social, and Governance (ESG) Initiatives - The company is committed to promoting environmental sustainability and high standards of corporate social governance[103]. - The company aims to expand the reporting scope of environmental KPIs in the future to provide a more comprehensive reflection of ESG performance[111]. - The company is focused on enhancing employee awareness and participation in ESG initiatives, including carbon reduction and community contributions[121]. - The company has engaged stakeholders through surveys and interviews to assess the importance of ESG issues relevant to its business[110]. - The company has established an ESG management framework, with a Safety and Health Committee responsible for reviewing environmental and labor safety policies[138]. Risk Management - The company faces climate-related risks, including extreme weather events that could disrupt the supply chain and increase operational costs due to stricter regulations[160]. - The company has implemented measures to enhance disaster resilience and business continuity in response to extreme weather risks[161]. - The company is addressing market and regulatory risks by planning factory relocations to comply with stricter environmental and labor standards[170]. Customer Relations and Quality Management - The company conducts annual customer satisfaction surveys and analyzes the results to improve service and maintain long-term relationships, with no customer complaints reported this year[166][175]. - The company emphasizes product quality management by implementing ISO9001 standards and conducting weekly meetings to address significant quality issues, ensuring compliance with national laws and regulations[163]. - The company has established strict quality control measures, including monthly evaluations of supplier delivery quality and adherence to environmental and labor regulations[181]. - The company has not experienced any significant quality violations or product recalls during the fiscal year ending December 31, 2023[180]. Investment and Development - The company has allocated approximately $11.7 million for the construction and establishment of a research and development center in Vietnam[76]. - The company plans to expand its distribution channels in Vietnam, with an investment of approximately $15.0 million for building new specialty stores and $4.0 million for enhancing existing distributors[76]. - The company has earmarked approximately $9.0 million for mergers and acquisitions of assets or businesses[76].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表 聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責 任。 Vietnam Manufacturing and Export Processing (Holdings) Limited 越南製造加工出口(控股)有限公司 (於開曼群島註冊成立的有限公司) (股份代號：422) 年度業績公告 越南製造加工出口（控股）有限公司（「本公司」）董事會（「董事會」）謹此宣佈，本公司 及其附屬公司（統稱「本集團」）截至二零二三年十二月三十一日止年度綜合財務業績，連同 對上一個財政年度的比較數字。董事會不建議派付截至二零二三年十二月三十一日止年度之末 期股息。 截至二零二三年十二月三十一日止年度 | --- | --- | --- | --- | |----------------------------------------|-------|----------------------------|---------------------------| | | | | | | ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表聲明， 並明確表示概不就因本公告全部或任何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 Vietnam Manufacturing and Export Processing (Holdings) Limited 越南製造加工出口(控股)有限公司 （於開曼群島註冊成立的有限公司） （股份代號：422） 公 告 截至二零二三年九月三十日止九個月之 未經審核業績 財務摘要： （以百萬美元表示） 截至九月三十日止九個月 二零二三年 二零二二年 變動 （未經審核） （未經審核） 金額 ‧總收入 89.2 95.9 (6.7) ‧毛利 13.0 9.1 3.9 ‧稅後淨利潤／（虧損） 3.5 (0.6) 4.1 越南製造加工出口（控股）有限公司（「本公司」）謹此宣佈本公司及其附屬公司（「本集團」） ...

Vietnam Manufacturing and Export Processing (Holdings) Limited 越南製造加工出口(控股)有限公司 （股份代號:422） （於開曼群島註冊成立之有限公司） 業務回顧 截至二零二三年六月三十日止六個月期間，本集團在越南的總銷售數量約15.6千輛（其中速 克達約2.8千輛及國民車約12.8千輛），比去年同期減少16.2%。本集團出口至東南亞國家聯 盟（「東盟」）國家的速克達及國民車銷售總數量約33.2千輛，比去年同期增加6.2%。 財務回顧 本集團截至二零二三年六月三十日止六個月的收入為60.6百萬美元，較截至二零二二年六月 三十日止六個月的62.2百萬美元，減少1.6百萬美元或2.6%。本集團於二零二三年度因應國 際原材料上漲，適度調漲產品售價，惟因越南消費者購買力趨向保守，銷售量減少，收入較 去年同期減少。出口東盟國家產品，在調整售價情況下，加上中高端產品銷售量增加，帶動 收入成長，但在馬來西亞市場銷售業績放緩下，抵銷部分收入增幅。本集團將會持續積極開 拓新機種及豐富的多元化產品，以滿足消費者需求，提升本集團收入。 行政及其他營運開支 本集團的行政及 ...