瀛晟科学二零二三年中期报告

Winshine Science Company Limited瀛晟科學有限公司 Stock Code: 209(Incorporated in Bermuda with limited liability)  Contents Abbreviations2Corporate Information3-5Management Discussion and Analysis6-10Condensed Consolidated Statement of Profit or Loss11Condensed Consolidated Statement ofProfit or Loss and Other Comprehensive Income12Condensed Consolidated Statement of Financial Position13-14Condensed Consolidated Statement of Changes in Equity15Condensed Consolidated Statement of Cash Flows16Notes to the Condensed Consolidated Financial Statements17-43Other Information44-48 Abbreviations In this interim report, the following abbreviations have the followingmeanings unless otherwise specified: Corporate Information BOARD OF DIRECTORS Mr. Jiang Qinghui(Chairman)(appointed on 25 April 2023 and appointedas the chairman on 23 June 2023) Mr. Wen Zudian(Chief Executive Officer)(appointed and the chief executive officer on 29 June 2023) Dr. Liao Wenjian(resigned as the chief executive officer on 29 June 2023) Mr. Zhao Deyong(retired and resigned as the chairman on 16 June 2023) Mr. Lin Shaopeng Mr. Zhao Yong Mr. Zhao Yong Mr. Ng Wai Hung (resigned on 16 June 2023) Corporate Information REMUNERATION COMMITTEE Mr. Chan Cheuk Ho(Chairman)(appointed on 29 June 2023)Mr. Weng Zudian (appointed on 29 June 2023)Mr. Zhao YongMr. Kwok Kim Hung EddieMr. Ng Wai Hung (resigned on 16 June 2023) NOMINATION COMMITTEE Mr. Jiang Qinghui(Chairman)(appointed on 29 June 2023)Mr. Chan Cheuk Ho (appointed on 29 June 2023)Mr. Kwok Kim Hung EddieMr. Zhao Yong (resigned on 29 June 2023)Mr. Ng Wai Hung (resigned on 16 June 2023) COMPANY SECRETARY Mr. Lam Koon Fai 209 The Stock Exchange of Hong Kong Limited (Stock Code: 209) REGISTERED OFFICE Clarendon House, 2 Church Street,Hamilton HM 11, Bermuda Clarendon House, 2 Church Street,Hamilton HM 11, Bermuda HEAD OFFICE AND PRINCIPAL PLACE OF BUSINESS IN HONGKONG 287-299299 QRC 101002 Room 1002, 10th Floor, 299 QRC,287-299 Queen’s Road Central, Hong Kong PRINCIPAL BANKERS AUDITOR Confucius International CPA Limited PRINCIPAL SHARE REGISTRAR AND TRANSFER OFFICE MUFG Fund Services (Bermuda) Limited4th floor North, Cedar House,41 Cedar Avenue,Hamilton HM 12,Bermuda MUFG Fund Services (Bermuda) Limited4th floor North, Cedar House,41 Cedar Avenue,Hamilton HM 12,Bermuda HONG KONG BRANCH SHARE REGISTRAR AND TRANSFEROFFICE Tricor Tengis Limited17/F, Far East Finance Centre16 Harcourt Road, Hong Kong 1617 WEBSITE http://www.winshine.comhttp://www.tricor.com.hk/webservice/000209 http://www.winshine.comhttp://www.tricor.com.hk/webservice/000209 Management Discussion and Analysis BUSINESS REVIEW The Group is principally engaged in the manufacturing and trading of toysand the plantation and sales of agricultural products. For the interim period ended 30 June 2023, we faced numerous challengesin our operating environment. 50% For the global toy industry, as a result of entering an interest rate hikecycle and economic recession, non-essential goods (including toys) beganto experience a slowdown. Major customer pulled back on orders, whichfurther compounded inventory issues. Against this backdrop, overall toysales in the US, our largest market, declined by over 50% dramatically ascompared to the interim period ended 30 June 2022. 0.16 During the interim period ended 30 June 2023, the revenue derived fromthe plantation and sales of agricultural products is HK$0.16 million (for theinterim period ended 30 June 2022: HK$ Nil). 10.974.263.3 Gross profit for the interim period ended 30 June 2023 amounted toapproximately HK$10.9 million, representing an decrease of approximatelyHK$63.3 million compared with that of approximately HK$74.2 million forthe interim period ended 30 June 2022. 21.113.034.1 The Group recorded a loss of approximately HK$21.1 million for the interimperiod ended 30 June 2023 and a profit of approximately HK$13.0 millionfor the interim period ended 30 June 2022, representing an decrease ofapproximately HK$34.1 million. Toys Division 59.3%202.5 For the interim period ended 30 June 2023, revenue of toys divisiondecreased by 59.3% to HK$202.5 million. The revenue decrease was mainlyattributable to the decrease in purchase orders from a major customerheadquartered in the United States of America (the “USA”). Lower gross profit margin for the interim period ended 30 June 2023reflected elevated discounts and writedowns to reduce our inventory level inresponse to a volatile and challenging consumer environment. Management Discussion and Analysis Plantation and Sales of Agricultural Products On 20 May 2023, the Company indirectly acquired 78.9% of equity interestofwhich is principally engaged in the plantation and sales ofagricultural products in Japan. 78.9% 0.16 Revenue of agricultural products was generated in HK$0.16 million duringthe interim period ended 30 June 2023. FINANCIAL REVIEW Liquidity, Financial Resources and Capital