圣马丁国际2023中期报告

2023INTERIM REPORT CONTENTS目錄 Corporate Information2Chairman’s Letter to Shareholders4Business Overview and Management Discussionand Analysis6Financial Review13Corporate Governance and Other Information23Condensed Consolidated Statement of Profit orLoss and Other Comprehensive Income31Condensed Consolidated Statement ofFinancial Position33Condensed Consolidated Statement ofChanges in Equity35Condensed Consolidated Statement ofCash Flows37Notes to the Condensed ConsolidatedFinancial Statements38 CORPORATEINFORMATION公司資料 執行董事 EXECUTIVE DIRECTORSMr. Hung Tsung ChinMr. Chen Wei Chun 非執行董事 NON-EXECUTIVE DIRECTORMr. Kuo Jen Hao(Chairman) 獨立非執行董事 INDEPENDENT NON-EXECUTIVE DIRECTORS Ms. Chen Wei-HuiMr. Lu Ming-ShiuanMr. Wu Chia Ming 審核委員會 AUDIT COMMITTEE Ms. Chen Wei-Hui(Committee Chairperson)Mr. Lu Ming-ShiuanMr. Wu Chia Ming 薪酬委員會 REMUNERATION COMMITTEE Mr. Wu Chia Ming(Committee Chairman)Ms. Chen Wei-HuiMr. Lu Ming-Shiuan 提名委員會 NOMINATION COMMITTEE Mr. Lu Ming-Shiuan(Committee Chairman)Ms. Chen Wei-HuiMr. Wu Chia Ming 總辦事處及主要營業地點 HEAD OFFICE AND PRINCIPAL PLACE OF BUSINESS Unit 516, 5/F., Peninsula Centre, 67 Mody RoadTsim Sha Tsui East, KowloonHong Kong 675516 註冊辦事處Clarendon House, 2 Church Street, HamiltonHM 11, Bermuda REGISTERED OFFICE Clarendon House, 2 Church Street, HamiltonHM 11, Bermuda CORPORATE INFORMATION(Continued)公司資料（續） 公司秘書 COMPANY SECRETARYMs. Tung Wing Yee Winnie 授權代表 AUTHORISED REPRESENTATIVESMr. Hung Tsung ChinMs. Tung Wing Yee Winnie PRINCIPAL BANKERS 主要往來銀行 CTBC Bank Co., Ltd.China Guangfa Bank Co., Ltd.Land Bank of Taiwan Co., Ltd. AUDITORBDO LimitedCertified Public Accountants 核數師 LEGAL ADVISORSTAN & CO., Solicitors 法律顧問 股份登記及過戶處 SHARE REGISTRAR AND TRANSFER OFFICE 148212103B Hong KongBoardroom Share Registrars (HK) LimitedRoom 2103B, 21/F.148 Electric Road, North PointHong Kong Conyers Corporate Services (Bermuda) LimitedClarendon House2 Church StreetHamilton HM 11Bermuda BermudaConyers Corporate Services (Bermuda) LimitedClarendon House2 Church StreetHamilton HM 11Bermuda 公司網站www.sandmartin.com.hk CORPORATE WEBSITEwww.sandmartin.com.hk 股份代號482 STOCK CODE482 CHAIRMAN’SLETTERTOSHAREHOLDERS主席致股東報告 股東 Dear shareholders of the Company (the “Shareholders”), On behalf of the board (the “Board”) of the directors (the “Directors”) ofSandmartin International Holdings Limited (the “Company”, together withits subsidiaries collectively referred to as the “Group”), I hereby present theinterim results of the Group for the six months ended 30 June 2023. *本公司本集團董事董事會 The financial performance of the Group was not satisfactory for the six monthsended 30 June 2023. The 2019 novel coronavirus pandemic (the “Pandemic”)continued to have negative impacts on the business and operations of theGroup. With the global tight monetary policy, the revenue of the Group’sproducts has declined when compared with the same corresponding periodin 2022. The Group has taken some measures to reduce the unfavourableimpacts, including but not limited to sourcing from different suppliers toincrease the profit margin. 疫情 Dish Media Network LimitedDish Media The tight monetary policy in Nepal had an adverse impact on the economicsentiment in Nepal which led to the decrease in the number of subscribers ofDish Media Network Limited (“Dish Media”, the Company’s associate and thelargest satellite pay television operator in Nepal). 美國中國 The ongoing China-US trade war still has some negative impacts on certainsegments of the operations of the Group and the Group mitigates the impactsby sourcing from suppliers in Southeast Asia, for the purpose of avoiding theexcessive tariffs imposed by the United States (the “US”) on products from ThePeople’s Republic of China (the “PRC” or “China”). Although the global economy is gradually recovering from the Pandemic,the geo-political and geo-economic tensions are yet to be resolved.Given these volatilities and challenges, the Group will continue to adopt aprudent approach in managing its cash flows position and will make everyendeavour to identify business opportunities with promising potential in themanufacturing segments in emerging markets or even other sectors so as todiversify our income source to weather adverse economic cycle. CHAIRMAN’S LETTER TO SHAREHOLDERS(Continued)主席致股東報告（續） 該土地華算重建 Since 2018, the Group has, by outsourcing its production to suppliers inVietnam, progressively wound down its own production facilities housed inthe Group’s factory buildings built on an industrial land in Zhongshan, thePRC (the “Land”) owned by the Group. Most of the Group’s factory buildingson the Land had been leased to third parties independent of the Company inreturn for rental income. However, owing to the age of the factory buildings,the rental return is low. As such, the Group has been exploring opportunitiesto increase the investment return from such factory buildings. In July 2021, theGroup entered into a cooperation agreement with, amo