目錄 | | | 5 管理層討論及分析 7 董事及高級管理層 9 董事會報告 23 企業管治報告 35 獨立核數師報告 40 綜合損益及其他全面收益表 41 綜合財務狀況表 43 綜合權益變動表 44 綜合現金流量表 46 綜合財務報表附註 119 財務概要 120 公司資料 主席報告書 截至二零二四年十二月三十一日止年度（「本年度」），全球牛仔布行業仍受不明朗因素籠罩，包括美國（「美國」，主 要牛仔布市場）政府的關稅調整。有見及此，興紡控股有限公司（「興紡」或「本公司」）及其附屬公司（統稱「本集團」） 採取審慎措施，把握COVID-19疫情後的復甦機遇。當中包括積極與客戶聯繫及提升營運效率。此外，作為本集團 「中國加一」策略的一部分，其與一家越南分包商合作建立新的生產線，加強滿足客戶多樣化的採購需求。與二零 二三年比較，此等措施使本集團的表現顯著改善，收益及毛利均大幅增加。然而，人民幣貶值導致的匯兌虧損對 本集團的財務業績造成負面影響，部分抵銷本年度的收益。 截至二零二四年十二月三十一日止年度，本集團總收益約214.7百萬港元（二零二三年：162.9百萬港元），按 年增加約31.8%。毛利合共約33.4百萬 ...

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 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。 興紡控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1968） 截 至 二 零 二 四 年 十 二 月 三 十 一 日 止 年 度 全 年 業 績 公 告 截 至 二 零 二 四 年 十 二 月 三 十 一 日 止 年 度 的 總 收 益 同 比 增 加 約31.8%至 214.7百 萬 港 元，而 截 至 二 零 二 三 年 十 二 月 三 十 一 日 止 年 度 的 總 收 益 則 為162.9百 萬 港 元。 截 至 二 零 二 四 年 十 二 月 三 十 一 日 止 年 度，本 公 司 擁 有 人 應 佔 虧 損 淨 額 為 約35.0百 萬 港 元，而 截 至 二 零 二 三 年 十 二 月 三 十 ...

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 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。 HINGTEX HOLDINGS LIMITED 興紡控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1968） 截 至 二 零 二 四 年 六 月 三 十 日 止 六 個 月 中 期 業 績 公 告 | --- | --- | |-------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

Financial Performance - For the fiscal year ending December 31, 2023, the group's revenue was HKD 162.9 million, a decrease from HKD 245.2 million in 2022, while gross profit increased by 15% to HKD 21.7 million, resulting in a gross margin of 13.3% compared to 7.7% in 2022[3]. - The group reported a narrowing of losses attributable to shareholders to approximately HKD 37.8 million, down from a loss of HKD 50.0 million in 2022[3]. - Revenue for the year ended December 31, 2023, was HKD 162,884,000, a decrease of 33.5% compared to HKD 245,176,000 in 2022[175]. - Gross profit increased to HKD 21,695,000, up 14.3% from HKD 18,888,000 in the previous year[175]. - The company reported a net loss attributable to shareholders of HKD 37,800,000, improving from a loss of HKD 49,962,000 in 2022[175]. - Basic loss per share improved to HKD 5.91 from HKD 7.81 in the previous year[175]. - Total assets decreased to HKD 284,600,000 from HKD 326,000,000, reflecting a decline of 12.7%[179]. - Cash and cash equivalents at year-end were HKD 60,740,000, down from HKD 84,693,000, a decrease of 28.3%[183]. - Operating cash flow for the year was negative HKD 14,452,000, compared to positive HKD 8,170,000 in 2022[183]. - The company’s total equity decreased to HKD 275,672,000 from HKD 313,472,000, a decline of 12.1%[179]. Debt and Equity - The group reduced its debt-to-equity ratio from 12.88% in 2022 to 11.76% in 2023, primarily due to a decrease in bank borrowings amid rising interest rates[3]. - As of December 31, 2023, the company's debt-to-equity ratio is 11.8%, down from 12.9% in 2022[15]. Operations and Production - The group secured long-term orders from the largest retail chain in the U.S., which is expected to enhance its market position and overall profit margins[2]. - The group plans to install two large dyeing and finishing machines imported from Germany and Italy, expected to be operational by the end of 2024, which will increase production capacity and improve product quality[8]. - The group continues to focus on developing new types of denim fabric, particularly elastic blended denim, to meet evolving customer demands[8]. - The group has established a subcontracting agreement with a manufacturer in Vietnam to produce certain denim fabrics, addressing high tariffs imposed by the U.S. government on Chinese goods[4]. Inventory and Cash Management - The group’s inventory decreased to HKD 85.3 million from HKD 97.3 million in 2022, as management focused on reducing long-aged yarn and fabric[12]. - As of December 31, 2023, the group's cash and cash equivalents decreased to HKD 60.7 million from HKD 84.7 million in 2022, reflecting the challenging operating performance[12]. Corporate Governance - The board does not recommend the payment of a final dividend for the year[39]. - The company has established an audit committee as part of its corporate governance framework[82]. - The board is committed to high standards of corporate governance, ensuring transparency and accountability in operations[106]. - The independent auditor, Deloitte, will be re-elected at the upcoming annual general meeting, having audited the financial statements since the company's listing[104]. - The board of directors consists of two executive directors, one non-executive director, and three independent non-executive directors, ensuring independent oversight with independent directors accounting for over one-third of the board[115]. - The audit committee, composed of three independent non-executive directors, reviewed the audited consolidated financial statements for the year ended December 31, 2022, and the unaudited interim financial statements for the six months ended June 30, 2023[128]. - The company has established three board committees: the audit committee, remuneration committee, and nomination committee, each with clear written terms of reference[126]. Employee and Compensation - The company had a total of 317 employees as of December 31, 2023, a decrease from 353 employees in 2022[18]. - Employee compensation and benefits remain consistent with current levels and are subject to regular reviews[18]. - The remuneration committee evaluates the performance of all directors and senior management, and recommends remuneration policies to the board, ensuring transparency in compensation practices[130]. - The remuneration details for senior management (excluding directors) indicate that 4 individuals received salaries not exceeding HKD 1,000,000[131]. Market Outlook - The global denim market is projected to reach USD 111.4 billion by 2032, with a compound annual growth rate of 4.7% from 2024 to 2032, which supports the group's optimistic outlook[7]. Shareholder Information - Wan Fung Investment holds 75% of the issued shares, making it the controlling shareholder of the company[57]. - As of December 31, 2023, Wan Fung Investment has 480,000,000 shares, representing 75% ownership[57]. - The company has a stock option plan that allows for the issuance of up to 64,000,000 shares, equivalent to 10% of the total issued share capital[66]. - The maximum number of stock options that can be granted to each eligible participant is limited to 1% of the issued shares as of the grant date[67]. - No stock options have been granted, agreed to be granted, exercised, or canceled under the stock option plan as of the report date[62]. Financial Reporting and Compliance - The financial status of the group as of December 31, 2023, is detailed in the consolidated financial position statement on pages 41 to 42[38]. - The company’s financial statements include disclosures required by the Hong Kong Stock Exchange and the Companies Ordinance[195]. - The financial statements have been prepared in accordance with Hong Kong Financial Reporting Standards[158]. - The company has adopted new Hong Kong Financial Reporting Standards effective from January 1, 2023, which did not have a significant impact on the financial position and performance for the current and prior years[188][191]. Risk Management - Management closely monitors foreign exchange risks and will consider hedging if necessary[21]. - The board confirmed that the risk management and internal control systems are adequate and effective this year[142].

Financial Performance - Total revenue for the year ended December 31, 2023, decreased by approximately 33.6% to HKD 162.9 million, compared to HKD 245.2 million for the year ended December 31, 2022[5] - The net loss attributable to shareholders for the year ended December 31, 2023, was approximately HKD 37.8 million, compared to a net loss of approximately HKD 50.0 million for the year ended December 31, 2022[5] - Basic loss per share for the year ended December 31, 2023, was HKD 5.91, compared to HKD 7.81 for the year ended December 31, 2022[5] - The total revenue for the year ending December 31, 2023, was HKD 162,884,000, a decrease of 33.4% compared to HKD 245,176,000 for the year ending December 31, 2022[28] - The group reported a revenue of HKD 162.9 million for the year, down from HKD 245.2 million in the previous year, representing a decrease of approximately 33.4%[76] Profitability and Gross Margin - Gross profit for the year ended December 31, 2023, was HKD 21.7 million, an increase from HKD 18.9 million for the year ended December 31, 2022[5] - Gross profit increased by 15% to HKD 21.7 million, compared to HKD 18.9 million in the previous year, resulting in a gross margin of 13.3% (up from 7.7%)[76] Assets and Liabilities - Total assets as of December 31, 2023, were valued at HKD 284.6 million, down from HKD 326.0 million as of December 31, 2022[7] - Current assets as of December 31, 2023, totaled HKD 190.6 million, compared to HKD 230.9 million as of December 31, 2022[7] - Current liabilities as of December 31, 2023, were HKD 58.6 million, a decrease from HKD 68.4 million as of December 31, 2022[7] - The net asset value decreased to HKD 275,672,000 from HKD 313,472,000 year-over-year, reflecting a decline of 12.1%[13] - The total non-current liabilities decreased to HKD 8,928,000 from HKD 12,528,000, indicating a reduction of 28.5%[13] Cash Flow and Financing - As of December 31, 2023, cash and cash equivalents decreased by HKD 24.0 million to HKD 60.7 million, compared to HKD 84.7 million in 2022, primarily due to unsatisfactory operating performance[34] - The available bank financing as of December 31, 2023, was HKD 72.3 million, significantly lower than HKD 163.4 million in 2022[22] - The bank borrowings as of December 31, 2023, were approximately HKD 29.0 million, down from HKD 31.4 million in 2022[22] - The group’s bank borrowings had a floating annual interest rate of 6.7% to 6.9% as of December 31, 2023, an increase from 5.4% to 5.9% in 2022[112] Operational Highlights - The group is focusing on developing new types of elastic blended fabrics to meet changing customer demands[21] - The group plans to enhance production capacity and product quality by importing two large dyeing machines from Germany and Italy, expected to be operational by the end of 2024[56] - The group has established a partnership with a Vietnamese denim manufacturer to support production needs[55] - The group is responding to increasing demand for sustainable materials by integrating certified recycled materials into its products[54] Employee and Cost Management - The total employee benefits expense amounted to HKD 47.173 million, down from HKD 49.601 million in 2022[45] - The group employed 317 staff as of December 31, 2023, a decrease from 353 staff in the previous year[87] - The group has implemented strict cost control measures and various cost-saving practices in operations[103] Market and Sales Performance - Revenue from elastic blended denim fabric accounted for 85.9% of total revenue in 2023, slightly down from 86.0% in 2022[54] - The business development of the group remained sluggish for most of the year, primarily due to lockdown measures implemented in Shanghai, China, in Q2 2022 due to COVID-19, leading to a decrease in overall sales[103] - The group successfully secured orders from long-term customers, with products sold at the largest retail chain in the United States by the end of the year, enhancing its market position and overall profit margins[103] Dividends and Financial Recommendations - The group has no plans to declare dividends for the current year, consistent with the previous year[19] - The board does not recommend the payment of any dividends for the year ended December 31, 2023[99] Taxation - The company reported no provision for Hong Kong profits tax due to tax losses carried forward[125] - The company has not reported any taxable profits in Hong Kong for the year ended December 31, 2022[125]

過去六個月可說是經濟、金融和地緣政治發展的混合體,導致許多企業面臨複雜的狀況。就本集團而言,回顧期 內表現受到利率上升的影響。此外,人民幣兑港元匯率疲軟對本集團的影響更為嚴重。面對充滿挑戰的營商環境, 本集團竭盡全力降低製造成本及行政開支。因此,儘管回顧期內產生的收益低於預期·但與去年可比期間相比, 本集團仍實現相對較高的毛利率,並減少淨虧損。 中 期餐告 2023 其他披露資料 流動資金、財務資源及資本架構 於二零二三年六月三十日·流動資產淨值約為143.1百萬港元（二零二二年十二月三十一日：162.5百萬港元）。於 二零二三年六月三十日之銀行結餘及現金約為81.6百萬港元(二零二二年十二月三十一日：84.7百萬港元)。 資本負債比率 僱員及薪酬政策 本公司於二零一八年六月十九日採納一項購股權計劃。於二零二三年六月三十日及直至本公告日期·概無授出任 翼纺控股有限公司 其他披露資料 資本開支 本集團於本中期期間的資本開支約為1.2百萬港元(二零二二年上半年：9.7百萬港元)·其主要是由於本集團物業· 廠房及設備的資本投資、於聯營公司的權益及按公平值計入損益的金融資產所致。 庫務政策及外匯風險 本集團須就並非以 ...

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。 HINGTEX HOLDINGS LIMITED 興 紡 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：1968） 截 至 二 零 二 三 年 六 月 三 十 日 止 六 個 月 中 期 業 績 公 告 • 截 至 二 零 二 三 年 六 月 三 十 日 止 六 個 月 的 收 益 總 額 同 比 減 少 約 35.21%至92.6百萬港元，而截至二零二二年六月三十日止六個月的 收益總額則為142.8百萬港元。 • 截 至 二 零 二 三 年 六 月 三 十 日 止 六 個 月，本 公 司 擁 有 人 應 佔 淨 虧 損 為約19.5百萬港元，而截至二零二二年六月三十日止六個月的虧損 淨額為約24.7百萬港元。 • 截至二零二三年六月三十日止六個月的每股基本虧損為3.04港仙， 而截至二零二二年六月三十日止六個月的每股基本虧損為3.87港仙。 興紡控股有限公司（「本公司」）董事 ...

Financial Performance - For the fiscal year ended December 31, 2022, the company's revenue decreased to HKD 245.2 million from HKD 363.0 million in 2021, representing a decline of approximately 32.5%[19] - Gross profit for the same period was HKD 18.9 million, down from HKD 65.4 million in 2021, resulting in a gross margin of 7.7% compared to 18.0% in the previous year[19] - The company reported a pre-tax loss of HKD 55.1 million, significantly higher than the pre-tax loss of HKD 12.0 million in 2021[12] - Operating cash flow before changes in working capital was negative HKD 36.2 million, compared to positive HKD 7.5 million in the previous year[9] - The company reported a total loss and comprehensive expenses of HKD 49.962 million for the year[42] - The company's available distributable reserves as of December 31, 2022, amounted to approximately HKD 118,941,000[66] - The net asset value of the company decreased to HKD 313,472,000 in 2022 from HKD 363,434,000 in 2021, a decline of 13.8%[71] - The company's total equity attributable to owners remained stable at HKD 313,472,000 in 2022, unchanged from the previous year[71] - The company did not declare any dividends for the year, indicating a focus on retaining earnings[63] Assets and Liabilities - Cash and cash equivalents decreased from HKD 119.9 million in 2021 to HKD 84.7 million in 2022[21] - As of December 31, 2022, the company's current assets net value was approximately HKD 162.5 million, down from HKD 225.9 million in 2021[53] - Non-current liabilities increased to HKD 12,528,000 in 2022 from HKD 10,399,000 in 2021, representing a growth of 10.9%[71] - The company's capital and reserves showed a decrease in retained earnings from HKD 216,073,000 in 2021 to HKD 216,073,000 in 2022, indicating no growth in this area[80] - The company reported a total of HKD 1,165,000 in other payables, down from HKD 1,704,000 in the previous year, a decrease of 31.6%[71] - The company’s lease liabilities increased significantly to HKD 3,431,000 in 2022 from HKD 540,000 in 2021, marking a substantial rise of 535.4%[71] - Deferred tax liabilities decreased slightly to HKD 7,932,000 in 2022 from HKD 8,155,000 in 2021, a reduction of 2.8%[71] - Current assets decreased significantly to HKD 230,869 million in 2022 from HKD 356,126 million in 2021, a decline of 35.1%[104] - Total current liabilities decreased to HKD 68,417 million in 2022 from HKD 130,179 million in 2021, a reduction of 47.5%[104] - The total asset value minus current liabilities stands at HKD 326,000 million, compared to HKD 373,833 million in 2021, a decline of 12.8%[104] Operational Challenges and Future Outlook - The company faced significant operational challenges due to the COVID-19 lockdowns in Shanghai, impacting production capacity and order volumes[19] - The company plans to continue developing new products using existing yarn inventory to meet the increasing demand for sustainable materials from brand owners[20] - The company anticipates a gradual recovery in global economic conditions, leading to increased production due to higher customer orders[23] - The company expects steady sales recovery as 2023 progresses, with projections indicating the global denim market could reach USD 87.4 billion by 2027[49] - The company continues to review opportunities to enhance overall performance amidst a challenging economic environment[22] Corporate Governance and Compliance - The board of directors has not approved any contracts for overall business management or significant administrative work during the year[122] - The company continues to comply with public shareholding requirements as stipulated by listing rules[123] - The board of directors consists of two executive directors, one non-executive director, and three independent non-executive directors, ensuring independent oversight[129] - The independent non-executive directors have confirmed compliance with the non-competition agreement established in the company's prospectus published on June 28, 2018[143] - The audit committee is composed of three independent non-executive directors, with a chairman possessing professional qualifications and experience in accounting and finance[162] - The company has established three board committees: the audit committee, the remuneration committee, and the nomination committee, each with clear written terms of reference[161] - The consolidated financial statements for the year ended December 31, 2022, were audited by Deloitte, who will be re-elected at the upcoming annual general meeting[148] - The company has complied with relevant laws and regulations in Hong Kong and China throughout the year[139] - The board confirmed that the risk management and internal control systems are adequate and effective, ensuring compliance with corporate governance codes[174] Management and Development - The company is focused on research and development to seize significant market opportunities for sustainable long-term growth[23] - The company plans to leverage its technological advantages and market position to expand its business further[23] - The company encourages all directors to participate in continuous professional development to enhance their knowledge and skills[157] - The board meets at least four times a year to discuss significant events and issues, ensuring timely communication of the group's latest developments[152] - The board retains final decision-making authority on significant matters, including policies, strategies, and major transactions[179] - The external auditor participated in discussions regarding audit, internal control, and financial reporting matters[189] - The board's leadership and management responsibilities are delegated to the management team for daily operations and strategy execution[177] - The audit committee reviews the group's risk management and internal control systems biannually to ensure they are adequate and effective, covering all significant control activities[200] - The board identified significant risks to the group this year and developed corresponding risk management solutions based on the group's risk tolerance[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。 HINGTEX HOLDINGS LIMITED 興 紡 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：1968） 截 至 二 零 二 二 年 十 二 月 三 十 一 日 止 年 度 全 年 業 績 公 告 截 至 二 零 二 二 年 十 二 月 三 十 一 日 止 年 度 的 總 收 益 同 比 減 少 約32.5%至 245.2百 萬 港 元，而 截 至 二 零 二 一 年 十 二 月 三 十 一 日 止 年 度 的 總 收 益 則 為363.0百萬港元。 截 至 二 零 二 二 年 十 二 月 三 十 一 日 止 年 度，本 公 司 擁 有 人 應 佔 虧 損 淨 額 為約50.0百萬港元，而截至二零二一年十二月三十一日止年度的虧損淨 額為約11.9百萬港元。 截至二零二二年十二月三十一日止年度的每股基本虧損為7.81港仙，而 截至二零二一年十二月三十一日止年度則為每股基 ...

0 興 : a a t 201 中期報告 2022 (於開曼群島註冊成立的有限公司) 股份代號：1968 目 錄 財務摘要 2 管理層討論及分析 3 其他披露資料 5 簡明綜合財務報表審閱報告 12 13 簡明綜合損益及其他全面收益表 簡明綜合財務狀況表 14 16 簡明綜合權益變動表 17 簡明綜合現金流量表 19 簡明綜合財務報表附註 32 公司资料 財務摘要 | --- | --- | --- | |----------------------------------------|-----------------------------------------------------------------|-----------------------------------------| | | 截至以下日期止六個月 \n二零二二年 六月三十日 千港元 (未經審核) | 二零二一年 六月三十日 千港元 (未經審核) | | 收益 | 142,842 | 174,930 | | | | | | 毛利 | 12,222 | 35,401 | | 毛利率 | 8.6% | 20.2% | | 除税前(虧 ...