Production and Innovation - The Group's total production capacity exceeds 1 billion pieces of capacitors per month[8] - The Group launched the innovative Polymer Caps in 2006, becoming a major global vendor in this segment[5] - The Group operates state-of-the-art manufacturing facilities in Dongguan and Wuxi, China[8] - The Group has introduced energy-efficient solutions, including capacitors for LED lamps and high-efficiency lighting[9] - The Group has a well-trained R&D team that fosters creativity and innovation in product development[6] - The Group's ongoing investments in R&D for AI and energy storage technologies position it to capitalize on significant market opportunities[56] - The new production facility in Qingyuan, China, is designed to enhance operational efficiency and scale production capabilities[73] Environmental Commitment - The Group's products comply with the European Union's RoHS directive, ensuring they meet environmental standards[7] - The Group is committed to environmental sustainability, with all products being halogen-free and compliant with RoHS[9] Financial Performance - For the year ended December 31, 2024, the company achieved revenue of HK$1,611,568,000, representing a 9.6% increase compared to HK$1,470,952,000 in 2023[32] - Gross profit for 2024 was HK$247,329,000, a decrease of 7.2% from HK$266,408,000 in 2023[32] - EBITDA for 2024 was HK$140,945,000, down 5.8% from HK$149,669,000 in 2023[32] - Profit attributable to shareholders increased by 91.8% to HK$7,818,000 in 2024, compared to HK$4,076,000 in 2023[32] - Earnings per share rose to 1.64 HK cents in 2024, a 90.7% increase from 0.86 HK cents in 2023[32] - Net assets per share decreased by 3.3% to 314.44 HK cents in 2024, down from 325.07 HK cents in 2023[32] - The gross profit margin declined from 18.1% in 2023 to 15.3% for the Year, primarily due to a shift in the product mix towards lower-margin sales[47] - Net profit attributable to Shareholders increased to approximately HK$7,818,000 for the Year, compared to approximately HK$4,076,000 in 2023, driven by effective cost management and lower operating expenses[51] Market Trends and Strategic Focus - The company focused on developing cutting-edge solutions in artificial intelligence and energy storage applications to capture new market opportunities[35] - Strategic partnerships were forged in 2024 to co-develop innovative solutions, expected to yield breakthroughs and new revenue streams[40] - The Group's strategic focus on the mainland China market has allowed it to mitigate some adverse effects of global economic volatility and sustain growth[52] - The Group anticipates steady growth in market demand driven by increasing market needs and industry trends closely aligned with its product offerings[73] - The AI market is projected to reach US$243.72 billion in 2025, with a compounded annual growth rate of 27.67% from 2025 to 2030, resulting in a market volume of US$826.73 billion by 2030[56] - The energy storage sector is emerging as a key driver of global economic growth, supported by government policies and technological advancements, with increasing demand for renewable energy solutions[60] Supply Chain and Risk Management - The company is diversifying its supply chain and exploring alternative sourcing strategies to mitigate risks from ongoing trade tensions[41] - The Group implemented initiatives to streamline production processes and enhance resource efficiency, which helped to partially offset the decline in gross profit margin[50] - The Group achieved a slight improvement in operational efficiency, contributing to a reduction in production costs and maintaining competitiveness in a challenging market environment[61] - The Group is actively involved in optimizing supply chain resources and monitoring systems[101] Leadership and Governance - The company has a strong leadership team with Chan Tat Cheong overseeing corporate finance, treasury management, and investor relations, bringing over 30 years of experience in accounting and financial management[86] - The company has a diverse board with independent non-executive directors who bring extensive legal and financial expertise, enhancing governance and strategic oversight[87][90] - The Company has established various committees, including the Remuneration Committee and Audit Committee, to ensure effective governance and oversight[87] - The Company has mechanisms in place to ensure independent viewpoints are considered in corporate governance, including communication channels with shareholders[188] - The Board consists of three Executive Directors and three Independent Non-executive Directors, with Independent Non-executive Directors representing more than one-third of the Board, complying with Rule 3.10A of the Listing Rules[110] - The Company adopted the Corporate Governance Code and has taken sufficient measures to ensure compliance throughout the Year[108] Employee and Board Development - The Group employed a total of 2,227 employees as of December 31, 2024, an increase from 2,200 in 2023[77] - Newly appointed Directors receive comprehensive induction and training to understand the Company's operations and their responsibilities[131] - Directors participate in continuous professional development, including a specific in-house training seminar on Environmental, Social and Governance (ESG) held in November 2024[134] Financial Health and Capital Management - As of December 31, 2024, the Group's cash and cash equivalents were approximately HK$208,172,000, a decrease from approximately HK$249,720,000 in 2023[64] - The total outstanding bank and other borrowings amounted to approximately HK$1,002,053,000, down from approximately HK$1,032,171,000 in 2023[64] - The net gearing ratio increased to 53.1% as of December 31, 2024, compared to 50.6% in 2023[65] - The net working capital decreased to approximately HK$147,189,000, down by approximately HK$36,637,000 from HK$183,826,000 in 2023[66] Shareholder Engagement - The Company is committed to maintaining strong investor relations, which is crucial for its financial health and market position[86] - A circular will be sent to Shareholders providing information about nominated candidates, including their qualifications and proposed remuneration[147] - Shareholders can propose candidates for directorship without the Board's recommendation, and these candidates' particulars will be sent to all Shareholders[154]

Financial Performance - Total revenue for the year ended December 31, 2024, was HKD 1,611,568,000, representing a 9.6% increase from HKD 1,470,952,000 in 2023[3] - Gross profit decreased by 7.2% to HKD 247,329,000 from HKD 266,408,000 in the previous year[3] - Shareholders' profit attributable to the company increased by 91.8% to HKD 7,818,000, compared to HKD 4,076,000 in 2023[3] - Earnings per share rose by 90.7% to HKD 1.64 from HKD 0.86 in the prior year[3] - The company reported a net profit of HKD 8,945,000 for the year, significantly up from HKD 975,000 in 2023[6] - Total comprehensive income for the year was a loss of HKD 50,537,000, compared to a gain of HKD 39,859,000 in the previous year[6] - Operating profit for the group increased to HKD 63,387,000 in 2024 from HKD 60,183,000 in 2023, resulting in an operating margin of 3.9%[15][22] - The company reported a pre-tax profit of HKD 18,400,000 for 2024, up from HKD 11,894,000 in 2023, indicating a significant improvement in profitability[15][24] Assets and Liabilities - Non-current assets totaled HKD 1,494,114,000, slightly down from HKD 1,505,511,000 in 2023[7] - Current assets decreased to HKD 1,653,763,000 from HKD 1,663,607,000 in the previous year[7] - Total liabilities increased to HKD 1,652,549,000 from HKD 1,623,253,000 in 2023[8] - The company's net asset value decreased to HKD 1,495,328,000 from HKD 1,545,865,000 in the previous year[8] - Accounts receivable increased to HKD 699,564,000 in 2024 from HKD 667,016,000 in 2023, with a provision for losses of HKD 39,370,000[29] - The company's net debt ratio as of December 31, 2024, was 53.1%, an increase from 50.6% in 2023, with net debt amounting to approximately HKD 793.88 million[42] - The company's net working capital as of December 31, 2024, was approximately HKD 147.19 million, a decrease of about HKD 36.64 million from HKD 183.83 million in 2023[43] Market Performance - Revenue from the mainland China market increased to HKD 1,218,675,000 in 2024, up from HKD 1,046,688,000 in 2023, showing strong growth in this region[18] - The company’s total non-current assets in mainland China were valued at HKD 1,314,192,000 as of December 31, 2024, slightly down from HKD 1,330,438,000 in 2023[18] - The company achieved a revenue of approximately HKD 1,611,568,000 for 2024, representing a 9.6% increase compared to the previous year[33] Dividends - The board declared a final dividend of HKD 0.49 per share for the year ending December 31, 2024, compared to no dividend in 2023[27] - The board proposed a final dividend of HKD 0.49 per ordinary share for the year ending December 31, 2024, compared to no dividend in 2023[52] - The final dividend is subject to approval at the 2025 Annual General Meeting and is expected to be paid on or around August 29, 2025[52] Strategic Initiatives - The company is focusing on developing cutting-edge solutions related to artificial intelligence and energy storage applications to meet growing demand[34] - Strategic partnerships have been established in 2024 to co-develop innovative solutions that meet market needs, expected to open new revenue streams[34] - The company is diversifying its supply chain and exploring alternative procurement strategies to mitigate external challenges such as trade tensions[35] - The company aims to enhance operational efficiency and profitability while expanding market share and developing innovative solutions to meet changing market demands[44] - The company is expanding its production capacity at a new facility in Qingyuan, China, to enhance operational efficiency and support high-quality product offerings in existing and new markets[45] - Despite challenges such as intense competition and regulatory uncertainties, the company remains optimistic about growth opportunities in the AI and energy storage markets[45] - The company is committed to leveraging its expertise and strategic partnerships to drive sustainable growth and create long-term value for shareholders[46] Employee and Governance - The group employed a total of 2,227 employees as of December 31, 2024, compared to 2,200 employees in 2023[47] - The company has complied with the corporate governance code as per the Hong Kong Stock Exchange regulations throughout the year[49] - The audit committee reviewed the full-year results for the year ending December 31, 2024, confirming consistency with the consolidated financial statements[51] - There were no purchases, sales, or redemptions of the company's shares during the year up to the announcement date[48] - The company adopted the standard code for regulating directors' conduct in securities trading, with all directors confirming compliance for the year[50] - The annual report containing all required information will be sent to shareholders by April 30, 2025[55] - The company will suspend share transfer registration from June 30, 2025, to July 4, 2025, to determine shareholder eligibility for the final dividend[54] - The board expressed gratitude to all employees, customers, suppliers, banks, and shareholders for their support[56] Economic Outlook - In 2024, the global GDP growth is projected to be 3.2%, a decrease of 0.1 percentage points from 2023, with developed economies growing at 1.7% and emerging Asian economies at 5.2%, including China at 4.8%[38] - The AI market is expected to reach $243.72 billion by 2025, growing at a compound annual growth rate (CAGR) of 27.67% from 2025 to 2030, reaching $826.73 billion by 2030[39] - The renewable energy sector is expected to dominate global electricity generation in the coming decades, with increasing demand for energy storage solutions driven by climate change and sustainability initiatives[40]

Financial Performance - Revenue for the six months ended June 30, 2024, was HKD 815,977,000, representing a 7.1% increase compared to HKD 761,975,000 for the same period in 2023[12]. - Gross profit increased by 29.8% to HKD 133,039,000, with the gross margin rising from 13.4% to 16.3%[12]. - The company achieved a turnaround from a net loss of HKD 15,368,000 in 2023 to a net profit of HKD 2,756,000 for the six months ended June 30, 2024[12][13]. - Earnings per share improved from a loss of HKD 3.23 to a profit of HKD 0.58[12]. - The operating profit increased significantly to HKD 32,246,000 from HKD 3,272,000 year-on-year[19]. - The group reported a net profit of HKD 2,392,000 for the period, a recovery from a loss of HKD 17,778,000 in the previous year[19]. - The total tax expense for the six months ended June 30, 2024, was HKD 4,741,000, compared to HKD 2,641,000 for the same period in 2023, reflecting an increase of approximately 79.7%[49]. Cost Management - Interest expenses as a percentage of revenue decreased from 3.7% in 2023 to 3.2% in 2024, reflecting effective cost control measures[13]. - The operational strategy includes strict cost control measures and prudent cash flow management to maintain financial stability[14]. - The financial expenses decreased to HKD 25,852,000 for the six months ended June 30, 2024, from HKD 28,216,000 in the same period of 2023, indicating a reduction of approximately 8.1%[41]. Market and Growth Opportunities - The company is positioned to benefit from the growing demand for capacitors driven by advancements in AI technology, with the AI market projected to exceed USD 184 billion in 2024[14]. - The group plans to focus on high-growth markets such as AI, renewable energy systems, power storage, and robotics[15]. - The diversified customer and product portfolio is crucial for the company's business development and long-term growth opportunities[14]. - Revenue from the mainland China market increased to HKD 620,439,000 for the six months ended June 30, 2024, compared to HKD 532,460,000 in the same period of 2023, marking a growth of about 16.5%[42]. Financial Position - As of June 30, 2024, the group had cash and cash equivalents of HKD 209,886,000, down from HKD 249,720,000 as of December 31, 2023[15]. - The total outstanding bank and other borrowings amounted to HKD 976,779,000, a decrease from HKD 1,032,171,000 as of December 31, 2023[15]. - The net debt-to-equity ratio was 50.1% as of June 30, 2024, compared to 50.6% as of December 31, 2023[15]. - Total liabilities decreased to HKD 1,613,442 thousand as of June 30, 2024, down from HKD 1,649,983 thousand as of December 31, 2023, reflecting a reduction of 2.2%[25]. - The company's total equity as of June 30, 2024, was HKD 1,529,919 thousand, a decrease of 1.0% from HKD 1,545,865 thousand as of December 31, 2023[25]. Employee and Operational Metrics - The total number of employees increased to 2,482 as of June 30, 2024, from 2,200 as of December 31, 2023[16]. - The operating cash inflow for the six months ended June 30, 2024, was HKD 79,214 thousand, significantly higher than HKD 21,935 thousand for the same period in 2023[31]. - The company’s inventory increased to HKD 633,768 thousand as of June 30, 2024, up 2.5% from HKD 616,169 thousand as of December 31, 2023[23]. Shareholder and Governance Matters - The company did not declare an interim dividend for the period ended June 30, 2024, consistent with the previous year[50]. - The company’s total issued share capital remained at HKD 47,555,000 with 475,547,534 shares issued as of June 30, 2024[68]. - The company has complied with the corporate governance code as per the listing rules during the reporting period[80]. - The audit committee reviewed the unaudited consolidated financial statements for the six months ending June 30, 2024[81]. Investment and Asset Management - The company reported a net gain from investment properties of HKD 674,000 for the six months ended June 30, 2024, compared to a gain of HKD 123,000 in the same period of 2023[46]. - The fair value of investment properties as of June 30, 2024, was HKD 372,403,000, a significant increase from HKD 373,858,000 at the beginning of the year, with adjustments reflecting a net loss of HKD 2,129,000 due to currency translation[61]. - The company acquired new property, plant, and equipment worth HKD 18,081,000 during the six months ended June 30, 2024, compared to HKD 22,224,000 in the same period of 2023, indicating a decrease of about 18.5%[51].

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 份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 （於百慕達註冊成立之有限公司） （股份代號：00894） 截至2024年6月30日止六個月 中期業績公告 | --- | --- | --- | --- | |-----------------------|--------------|-------------|--------| | | | | | | 財務摘要 | | | | | | 截至 6 月 30 | 日止六個月 | | | | 2024 年 | 2023 年 | | | | 千港元 | 千港元 | 變動 | | | | | | | 收入 | 815,977 | 761,975 | +7.1% | | 毛利 | 133,039 | 102,474 | +29.8% | | 息稅折舊及攤銷前利潤 | 68,704 | 53,615 | +28.1% | | 股東應佔溢利╱（虧損） | 2,756 | (15,368) | 不適用 | | 每股 ...

Production Capacity and Innovation - Man Yue Technology Holdings Limited has a total production capacity of over 1 billion pieces of capacitors per month[7]. - The Group launched the innovative Polymer Caps in 2006 and has become a major global vendor in this segment[4]. - The Group operates state-of-the-art manufacturing facilities in Dongguan and Wuxi, China, enhancing its production capabilities[7]. - The Group has introduced energy-efficient solutions, including capacitors for LED lamps and high-efficiency lighting[8]. - The Group owns renowned brands SAMXON® and X-CON®, recognized for their advanced technology and superior quality[6]. - The company has a strong focus on research and development, fostering creativity among its qualified professionals[5]. - The production plant in Dongguan, China, is managed with a focus on quality control and research and development[97][100]. - The company has a dedicated Research & Development Department responsible for product development and technical support[92]. Financial Performance - Revenue for the year ended December 31, 2023, decreased by approximately 20.3% to HK$1,470,952,000 from HK$1,846,555,000 in 2022[21]. - Gross profit margin improved slightly to approximately 18.1% in 2023 from 17.8% in 2022 despite a decrease in gross profit to HK$266,408,000[33]. - Net profit attributable to shareholders dropped approximately 90.5% to HK$4,076,000 compared to HK$42,686,000 in the previous year[34]. - Earnings per share fell to 0.86 HK cents in 2023 from 8.98 HK cents in 2022, representing a decline of approximately 90.4%[21]. - The company faced prolonged economic downturn and interest rate volatility, impacting sales revenue and leading to a longer-than-expected destocking cycle[32]. - The Group experienced a net loss of approximately HK$15,368,000 in the first half of 2023, followed by a net profit of approximately HK$19,444,000 in the second half, demonstrating a turnaround in financial performance[56][60]. - As of December 31, 2023, cash and cash equivalents amounted to approximately HK$249,720,000, a decrease from HK$311,869,000 in 2022[57]. - The total outstanding bank and other borrowings for the year were approximately HK$1,032,171,000, down from HK$1,094,513,000 in 2022[57]. - The net gearing ratio improved slightly to 50.6% from 52.0% in the previous year, indicating a reduction in net debt position[58]. - The net working capital decreased to approximately HK$183,826,000 from HK$200,208,000 in 2022, reflecting a decrease of approximately HK$16,382,000[59]. Market Position and Strategy - The global passive electronic components market size was approximately US$38.3 billion in 2023, expected to reach US$55.6 billion by 2032, driven by technological advancements and rising demand[53][54]. - The Group's multi-product strategy and established brands enabled it to partially offset the adverse effects of destocking activities, allowing for continued market share growth despite challenging conditions[49][53]. - The Group is strategically positioned to leverage core strengths and capitalize on market trends towards AI adoption, renewable energy, and IoT, anticipating a significant surge in demand for passive electronic components[64]. - The Group aims to broaden its product portfolio through increased R&D efforts and tailored customer solutions, while maintaining sustainable profitability and expanding market share[64]. - Strategic focus on cost control and operational efficiency helped mitigate the impact of declining revenue[33]. Corporate Governance - The company has adopted the Corporate Governance Code and has complied with its provisions throughout the year[103]. - The Board consists of three Executive Directors and four Independent Non-executive Directors, meeting the requirement of more than one-third for independent representation[105]. - The company has established sufficient measures to ensure corporate governance practices align with the Code throughout the year[109]. - All Directors have confirmed full compliance with the Model Code regulating securities dealings throughout the year[104]. - The company emphasizes a culture of acting lawfully, ethically, and responsibly across the organization[106]. - The Company has adopted a Board Diversity Policy aimed at achieving diversity on the Board, considering factors such as gender, age, cultural background, and professional experience[165]. - The Company has established a whistleblowing policy to allow employees to report concerns confidentially, supporting anti-corruption efforts[187]. - The Company continues to subscribe to an insurance policy to indemnify Directors and officers against losses arising from their duties[186]. Board Composition and Responsibilities - The Board consists of three executive directors and four independent non-executive directors, with independent directors making up more than one-third of the Board, complying with Listing Rule 3.10A[111]. - The Company’s independent non-executive directors possess expertise across various business sectors, ensuring compliance with Listing Rule 3.10 regarding professional qualifications[115]. - The Chairman and Managing Director roles are clearly separated, with Ms. Kee Chor Lin as Chairman and Mr. Chan Yu Ching, Eugene as Managing Director, ensuring effective governance[117]. - The Board is responsible for the long-term performance of the Company and oversees the implementation of strategic objectives[116]. - The Nomination Committee reviews the structure, size, and composition of the Board at least annually, considering the Company's Board Diversity Policy[139]. - The independence of independent non-executive directors is assessed by the Nomination Committee[140]. - Directors are collectively responsible for promoting the success of the Company and are actively involved in its management[173]. Remuneration and Training - The Group's remuneration policy is performance-oriented and market-competitive, with regular reviews and additional benefits including provident fund contributions and medical insurance[65]. - The training undertaken by directors during the year includes legal or regulatory compliance and directors' duties[134]. - A specific in-house training seminar on Environmental, Social, and Governance (ESG) was organized for all directors in November 2023 to enhance their knowledge and skills[133].

Financial Performance - Total revenue for the year ended December 31, 2023, was HKD 1,470,952, a decrease of 20.3% compared to HKD 1,846,555 in 2022[3]. - Gross profit for the same period was HKD 266,408, down 18.8% from HKD 328,006 in 2022[3]. - Profit attributable to shareholders plummeted by 90.5% to HKD 4,076, compared to HKD 42,686 in the previous year[3]. - Earnings per share decreased by 90.4% to HKD 0.86 from HKD 8.98 in 2022[3]. - Operating profit for the year was HKD 60,183, down from HKD 100,480 in 2022, reflecting a decline of 40.1%[6]. - The company recorded a total comprehensive income of HKD 39,859, compared to a loss of HKD 183,623 in the previous year[7]. - The total tax expense for the year was HKD 10,919, significantly lower than HKD 26,821 in 2022, due to reduced taxable profits[32]. - The company reported a net loss from other income of HKD 6,937 in 2023, compared to a net gain of HKD 9,351 in 2022[26][28]. - The net profit attributable to shareholders for the year was approximately HKD 4,076,000, representing a decline of about 90.5% compared to the previous year[43]. - In 2023, the company recorded a net loss attributable to shareholders of approximately HKD 15,368,000 in the first half, but rebounded in the second half with a net profit of approximately HKD 19,444,000, resulting in a total net profit of approximately HKD 4,076,000 for the year[49]. Assets and Liabilities - The company reported a net asset value per share of HKD 325.07, an increase of 2.6% from HKD 316.69 in 2022[3]. - Non-current assets increased to HKD 1,505,511 from HKD 1,382,337 in 2022, representing a growth of 8.9%[9]. - Current liabilities decreased to HKD 1,479,781 from HKD 1,648,802 in 2022, a reduction of 10.3%[10]. - Total equity attributable to shareholders rose to HKD 1,516,817 from HKD 1,473,584, marking an increase of 2.9%[10]. - Accounts receivable at the end of the reporting period amounted to HKD 628,772,000, down from HKD 708,235,000 in the previous year[39]. - The aging analysis of accounts payable showed a decrease from HKD 297,409,000 in 2022 to HKD 234,582,000 in the current year[40]. - The total outstanding bank and other borrowings amounted to approximately HKD 1,032,171,000 as of December 31, 2023, compared to approximately HKD 1,094,513,000 in 2022[51]. - The net debt-to-equity ratio was 50.6% as of December 31, 2023, a slight improvement from 52.0% in 2022[51]. Revenue Breakdown - For the year ended December 31, 2023, the revenue from external customers in the manufacturing, sales, and distribution of electronic components was HKD 1,470,952, a decrease of 20.3% from HKD 1,846,555 in 2022[17][19]. - Revenue from the Greater China region (including Hong Kong and mainland China) accounted for HKD 1,121,072, representing a decline from HKD 1,434,950 in 2022[22]. Operational Insights - The gross profit for the manufacturing segment was HKD 266,408, resulting in a gross margin of 18.1%, compared to a gross margin of 17.8% in 2022[17][19]. - Operating profit for the group was HKD 60,183, down 40.1% from HKD 100,480 in the previous year, with an operating margin of 4.1%[17][19]. - Total other income for 2023 was HKD 12,239, an increase from HKD 7,471 in 2022, primarily driven by rental income from investment properties[17][26]. - The financial expenses increased to HKD 57,755 in 2023 from HKD 41,474 in 2022, reflecting a rise in interest rates[29][30]. - The company faced challenges due to prolonged destocking cycles in the electronics industry, impacting product demand[42]. Future Plans and Strategies - The company plans to focus on expanding its investment properties and enhancing its electronic components manufacturing capabilities in the upcoming fiscal year[17][19]. - The company aims to leverage its core strengths and adapt to market changes, focusing on sustainable growth through emerging opportunities in AI applications, energy storage solutions, and IoT[53]. - The company plans to actively explore new business expansion opportunities and optimize operations to meet changing customer demands[45]. - The company is committed to innovation and R&D, aiming to drive sustainable growth and profitability in the future[45]. Employee and Governance - As of December 31, 2023, the company employed 2,200 staff, a decrease from 2,501 in 2022, reflecting its commitment to efficient resource management[55]. - The executive directors include Ms. Ji Chulian, Mr. Chen Yucheng, and Mr. Chen Dachang, with independent non-executive directors Mr. Luo Guogui, Mr. Ma Shaoyuan, and Mr. Rong Yongqi[66]. Dividend and Reporting - The company did not recommend the distribution of a final dividend for the year, consistent with the previous year[35]. - The annual performance report will be published by April 30, 2024, and will include all required information as per listing rules[63]. - The board expresses gratitude to employees, customers, suppliers, banks, and shareholders for their ongoing support[64]. Market Outlook - The global passive electronic components market is projected to grow from USD 38.3 billion in 2023 to USD 55.6 billion by 2032, driven by advancements in technology and renewable energy[48]. - The company's revenue decline for the year was approximately 20.3%, which was lower than expected, demonstrating its ability to capture opportunities despite a challenging business environment[48].

Financial Performance - Revenue for the six months ended June 30, 2023, was approximately HKD 761,975,000, a decrease of 23.0% compared to HKD 989,716,000 in the same period of 2022[8] - Gross profit decreased by 37.7% to HKD 102,474,000, down from HKD 164,569,000, resulting in a gross margin decline from 16.6% to 13.4%[9] - The company recorded a net loss attributable to shareholders of approximately HKD 15,368,000, compared to a profit of HKD 30,404,000 in the same period of 2022[9] - Operating profit decreased significantly to HKD 3,272,000, a decline of 93.5% from HKD 50,639,000 in the previous year[23] - Basic and diluted loss per share was HKD 3.23, compared to earnings of HKD 6.39 per share in the same period last year[23] - Total comprehensive income for the period was HKD (31,620,000), a decrease from HKD (82,968,000) in 2022[24] - The company reported a loss before tax of HKD 15,137,000 for the first half of 2023, compared to a profit of HKD 37,173,000 in the first half of 2022[31] - The company reported a loss of HKD 15,368,000 for the period ending June 30, 2023, compared to a profit of HKD 30,404,000 for the same period in 2022[87] Financial Position - As of June 30, 2023, the company had cash and bank balances of HKD 299,607,000, a slight decrease from HKD 311,869,000 at the end of 2022[13] - The net debt-to-equity ratio was 55.3% as of June 30, 2023, compared to 52.0% at the end of 2022[13] - Net working capital decreased to HKD 141,182,000 from HKD 200,208,000 at the end of 2022, a reduction of HKD 59,026,000[13] - Total equity as of June 30, 2023, was HKD 1,474,386,000, a decrease from HKD 1,506,006,000 at the end of 2022, reflecting a decline of 2.1%[27] - The company’s cash and cash equivalents decreased to HKD 267,069,000 from HKD 270,404,000, a slight decline of 1.2%[31] - The company’s inventory decreased to HKD 628,867,000 from HKD 677,719,000, a reduction of 7.2%[26] - Accounts receivable as of June 30, 2023, was HKD 675,547,000, down 9.7% from HKD 747,804,000 at the end of 2022[80] - The accounts payable and notes payable total HKD 252,446,000 as of June 30, 2023, down from HKD 297,409,000 as of December 31, 2022, representing a 15% decrease[83] Cash Flow and Liquidity - The net cash flow from operating activities for the six months ended June 30, 2023, was HKD 21,935,000, down from HKD 42,429,000 in the same period of 2022[31] - The company’s cash flow from operating activities has been impacted by the changes in accounts receivable and payable, reflecting the overall liquidity position[84] - The group’s cash flow management policy includes maintaining sufficient cash reserves and obtaining adequate credit facilities from major financial institutions to meet short-term and long-term liquidity needs[40] Market Outlook and Strategy - The company plans to focus on diversifying its business and maintaining strong relationships with market-leading customers amid challenging market conditions[10] - The global shipment volume of devices is expected to decrease by 4.4% in 2023, following a 11.9% decline in 2022[10] - The company remains cautiously optimistic about its business outlook, leveraging its strong R&D capabilities and diversified customer base[16] - The company will continue to monitor changes in the operating environment to seize market opportunities while maintaining financial discipline[16] Employee and Management Information - The company employed a total of 2,426 employees as of June 30, 2023, down from 2,501 employees at the end of 2022[17] - Total remuneration for key management personnel was HKD 6,376,000 in the first half of 2023, down from HKD 6,433,000 in the same period of 2022[93] Compliance and Reporting - The interim financial report for the six months ended June 30, 2023, was prepared in accordance with the applicable disclosure provisions of the Hong Kong Stock Exchange and complies with Hong Kong Accounting Standards[34] - The interim financial statements have not been audited but have been reviewed by KPMG in accordance with the relevant standards[34] Shareholder Information - The company did not recommend the payment of an interim dividend for the period, consistent with the previous year[73] - The company’s largest shareholder, Man Yue Holdings Inc., holds 44.09% of the equity as of June 30, 2023[90] - The major shareholder, Man Yue Holdings Inc., held 44.09% of the company's issued share capital as of June 30, 2023[98]

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 份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 （於百慕達註冊成立之有限公司） （股份代號：00894） 截至2023年6月30日止六個月 中期業績公告 財務摘要 截至6月30日止六個月 2023年 2022年 千港元 千港元 變動 收入 761,975 989,716 (23.0%) 毛利 102,474 164,569 (37.7%) 息稅折舊及攤銷前利潤 53,615 97,067 (44.8%) 股東應佔（虧損）╱溢利 (15,368) 30,404 不適用 每股（虧損）╱盈利 (3.23)港仙 6.39港仙 不適用 中期業績 萬裕科技集團有限公司（「本公司」）董事會（「董事會」）欣然宣佈本公司及其附屬公 ...

Production Capacity and Product Offerings - The Group has a total production capacity of over 1 billion pieces of E-Caps per month, with manufacturing facilities located in Dongguan, Wuxi, and Jiangxi, China[6] - Man Yue Technology Holdings Limited has been listed on The Stock Exchange of Hong Kong since 1997, focusing on high technology electronic components including Aluminum Electrolytic Capacitors and Conductive Polymer Aluminum Solid Capacitors[2] - The Group launched the innovative Polymer Caps in 2006 and has since become a major global vendor in this segment[3] - The Group owns renowned brands SAMXON® and X-CON®, recognized for their advanced technology and superior quality[5] - The Group's products comply with the European Union's RoHS directive, ensuring they meet environmental protection standards globally[5] - The Group is committed to environmental sustainability, with all products being halogen-free and production facilities adhering to local environmental regulations[7] - The Group has introduced energy-efficient solutions, including capacitors for LED lamps and new storage devices for environmentally friendly products[7] Financial Performance - Revenue for the year ended December 31, 2022, decreased by 11.7% to approximately HK$1,846,555,000 compared to HK$2,091,264,000 in 2021[32] - Gross profit declined by 8.2% to HK$328,006,000, maintaining a gross profit margin of approximately 17.8%[32] - EBITDA decreased by 10.8% to HK$192,326,000 from HK$215,649,000 in the previous year[32] - Profit attributable to shareholders fell by 44.2% to HK$42,686,000, down from HK$76,494,000 in 2021[32] - Earnings per share dropped by 44.2% to 8.98 HK cents from 16.09 HK cents[32] - Net assets per share decreased by 10.9% to 316.69 HK cents compared to 355.30 HK cents in 2021[32] - The Group's revenue decreased by 11.7% to approximately HK$1,846,555,000 compared to the previous year, primarily due to supply chain disruptions and customer destocking activities[48] - The gross profit margin remained relatively stable at approximately 17.8% for the Year despite weaker order flow in the second half[48] - Net profit attributable to shareholders fell by 44.2%, from approximately HK$76,494,000 in 2021 to approximately HK$42,686,000 in 2022[48] Market Trends and Economic Outlook - The global inflation rate for 2022 peaked at 8.75%, significantly impacting consumer spending and demand[32] - Global inflation is projected to decrease from 8.8% in 2022 to 6.6% in 2023, and further to 4.3% in 2024, remaining above pre-pandemic levels of approximately 3.5%[64] - Global growth is estimated at 2.9% for 2023, with a slight increase to 3.1% in 2024, indicating ongoing economic challenges despite improvements[64] - The reopening of China is expected to stimulate economic recovery and improve order placements from customers[39] - The market size of global passive electronic components is projected to grow from approximately US$36.59 billion in 2022 to approximately US$69.25 billion in 2029, with a CAGR of 9.5% from 2023 to 2029[53] - The number of IoT connected devices is expected to increase from approximately 9.7 billion in 2020 to over 29 billion by 2030, with China projected to have around 5 billion consumer devices[53] Strategic Initiatives and Future Plans - The company plans to continue investing in research and development to enhance product quality and meet market demands[38] - The company aims to secure its market position and deliver promising returns through strategic partnerships and diversified customer portfolios[40] - The Group plans to strategically manage resources, enhance operating discipline, and focus on profits and cash flow to navigate potential economic downturns[64] - The Group aims to expand its product and customer spectrum to capture new growth drivers and increase market share[64] - The ongoing trends in digital transformation and IoT are expected to drive significant demand for electronic components in the medium to long term[64] - The Group is committed to strengthening its product portfolio through increased investment in R&D to seize market opportunities[64] Corporate Governance and Board Structure - The company has a diverse board with members holding significant experience in law, finance, and accounting, enhancing governance and oversight[80][81][82] - The company emphasizes the importance of independent directors in its governance structure, ensuring unbiased oversight and strategic direction[84] - The board includes members who have served in various capacities across multiple listed companies, indicating a strong network and industry knowledge[81][83] - The company has adopted the Corporate Governance Code and ensured compliance throughout the year[105] - The Board consists of three Executive Directors and four Independent Non-executive Directors, meeting the requirement of more than one-third for independent representation[107] - The company has implemented sufficient measures to align its corporate governance practices with the applicable code provisions[105] - The company emphasizes a culture of acting lawfully, ethically, and responsibly across the organization[108] Human Resources and Workforce Management - As of December 31, 2022, the Group employed 2,501 employees, a decrease from 2,999 in 2021, reflecting adjustments in workforce management[68] - The Group's remuneration policy is performance-oriented and market-competitive, with regular reviews of compensation packages[68] - Senior management has extensive experience in their respective fields, contributing to strategic business development and operational efficiency[90][91][92][93][100] - The company encourages continuous professional development for directors to enhance their skills and knowledge[135] Risk Management and Compliance - The company is focused on maintaining a strong financial position by closely monitoring foreign exchange risks associated with currency fluctuations[65] - The Company has established a whistleblowing policy and system for employees to raise concerns confidentially and anonymously, promoting anti-corruption laws and regulations[188] - The Audit Committee comprises four Independent Non-executive Directors, ensuring a suitable mix of expertise in various sectors[199] - The Audit Committee is responsible for providing an independent view on the effectiveness of the financial process, risk management, and internal control systems, meeting at least twice a year[200]

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 份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 （於百慕達註冊成立之有限公司） （股份代號：00894） 截至2022年12月31日止年度 全年業績公告 財務摘要 截至12月31日止年度 2022年 2021年 千港元 千港元 變動 收入 1,846,555 2,091,264 -11.7% 毛利 328,006 357,489 -8.2% 息稅折舊及攤銷前利潤 192,326 215,649 -10.8% 股東應佔溢利 42,686 76,494 -44.2% 每股盈利 8.98港仙 16.09港仙 -44.2% 每股資產淨值 316.69港仙 355.30港仙 -10.9% 全年業績 ...