新兴印刷中期报告 2023/2024

1975 Interim Report2023/2024 CONTENTS Corporate Information02Management Discussion and Analysis04Financial StatementsCondensed Consolidated Statement of Profit or Loss16Condensed Consolidated Statement of Comprehensive Income17Condensed Consolidated Statement of Financial Position18Condensed Consolidated Statement of Changes in Equity19Condensed Consolidated Statement of Cash Flows20Notes to Condensed Consolidated Interim Financial Statements22Information Provided in Accordance with the Listing Rules36 2 CORPORATE INFORMATION公司資料 EXECUTIVE DIRECTORS Mr. CHAN Peter Tit SangMr. CHAN Kenneth Chi KinMr. CHAN Chi MingMr. CHAN Chun Sang Desmond NON-EXECUTIVE DIRECTORSMs. CHEUNG Mei Yee Lorna INDEPENDENT NON-EXECUTIVEDIRECTORS Mr. NG Sze Yuen TerryDr. CHU Po Kuen LouisMr. WONG Kam Fai COMPANY SECRETARYMr. LAM Yiu Cho 35-374 PRINCIPAL OFFICE 4/F, Sze Hing Industrial Building35-37 Lee Chung StreetChai Wan, Hong Kong 29-31 PRINCIPAL BANKSBank of China (Hong Kong)29-31 Lee Chung StreetChai Wan, Hong Kong 9916 DBS 16/F, The Center,99 Queen’s Road Central,Central, Hong Kong AUDITOR Ernst & YoungCertified Public AccountantsRegistered Public Interest Entity Auditor 1617 SHARE REGISTRAR Tricor Investor Services Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong http://www.sunhingprinting.com WEBSITEhttp://www.sunhingprinting.com 1975 STOCK CODE1975 SUN HING PRINTING HOLDINGS LIMITED新興印刷控股有限公司Interim Report中期報告2023/2024 ONPAPER-RELATED PRINTING PRODUCTS產品以紙類印刷品為主 Products are mainly used in the markets of variousconsumer products as well as for the purposes of promotion,advertising and education. 我們的印刷品應用廣泛，遍及不同的消費產品市場，以及用於宣傳、廣告及教育等用途 MANAGEMENT DISCUSSION AND ANALYSIS管理層討論及分析 REVIEW OF OPERATION (i)(ii)(iii)(iv)NFCRFID(v) Sun Hing Printing Holdings Limited (the “Company”) and itssubsidiaries (collectively referred to as the “Group”) is a one-stop printing service provider. Our printing services can bebroadly categorised into (i) packaging printing services whichcover, among others, corrugated boxes, gift boxes, cardboxes and product boxes; (ii) paper gift set printing serviceswhich cover, among others, gift sets and game sets containinggift boxes, cards, booklets and hardback books; (iii) cardprinting services which cover, among others, colour cards,insert cards, warranty cards and plain cards; (iv) smart packageprinting services which cover, among others, Near-fieldcommunications (“NFC”) tags, Radio-frequency Identification(“RFID”) labels and Real QR Code; and (v) other printingservices which cover, among others, stickers, colour papers,yupo papers and red packets. Despite the world has emerged from haze of the COVID-19pandemic, printing industry in Hong Kong is still strugglingwith unfavourable economic climate. Uncertainty of outbreak ofRusso-Ukrainian War, concern about slowing global economicgrowth and high inflation, as well as geopolitical tension arerelentlessly challenging the Group’s business operations anddevelopment. MANAGEMENT DISCUSSION AND ANALYSIS管理層討論及分析 REVIEW OF OPERATION(Continued) 55.6%152.7 The Group’s revenue decreased by approximately 55.6% toapproximately HK$152.7 million for the six months ended 31December 2023, comparing to the same period last year. Thedecrease in revenue is affected by the drop in contributionfrom packaging and paper gift set printing services, as a resultof customers’ concern about global economic slowdownand widespread inflation all over the world. Customers tookconservative consumption approach to reduce spending onprinting and promotional products. Thus, it led to a drop in saleorders received from both overseas and local customers. 148.168.9%46.1 The gross profit dropped by approximately 68.9% fromapproximately HK$148.1 million for the six months ended31 December 2022 to approximately HK$46.1 million for thesix months ended 31 December 2023, as a result of drop inrevenue and a slight reduction in the cost of goods sold.However, this has been offset by enduring fixed productioncosts, which have persisted irrespective of the magnitude of therevenue decline. With the combined effect of drop in revenue and slightreduction in fixed production cost, our gross profit margindeclined from approximately 43.0% for the six monthsended 31 December 2022 to approximately 30.2% for thesix months ended 31 December 2023. Our net profit for theperiod decreased by approximately HK$60.4 million fromapproximately HK$66.1 million for the six months ended 31December 2022 to approximately HK$5.7 million for the sixmonths ended 31 December 2023, considering the drop inrevenue and slight reduction in production and operation costsduring the current period. The net profit margin decreasedfrom approximately 19.2% for the six months ended 31December 2022 to approximately 3.7% for the six monthsended 31 December 2023. 43.0%30.2%66.160.45.719.2%3.7% Basic earnings per share was HK1.18 cents, compared to a basicearnings per share of HK13.77 cents fo