天机控股2024年报

VIRTUAL MIND HOLDING COMPANY LIMITED (Incorporated in the Cayman Islands with limited liability) Stock Code1520 2 5 Financial Summary 6 10 Corporate Information BOARD OF DIRECTORS EXECUTIVE DIRECTORS MEI Weiyi(Chairman)LI YangTIN Yat Yu CarolCHAN Ming Leung TerenceGONG XiaohanWONG Wai Kai Richard INDEPENDENT NON-EXECUTIVE DIRECTORS TANG Shu Pui SimonHON Ming SangLO Wing SzeBBS, JP AUTHORISED REPRESENTATIVES LI YangCHAN Yuen Ying Stella COMPANY SECRETARYCHAN Yuen Ying Stella AUDIT COMMITTEE HON Ming Sang(Chairman)TANG Shu Pui SimonLO Wing SzeBBS, JP REMUNERATION COMMITTEE TANG Shu Pui Simon(Chairman)LI YangHON Ming Sang NOMINATION COMMITTEE LI Yang(Chairman)TANG Shu Pui SimonHON Ming Sang Corporate Information CORPORATE GOVERNANCE COMMITTEE LI Yang(Chairman)TANG Shu Pui SimonHON Ming Sang AUDITOR Beijing Xinghua Caplegend CPA LimitedCertified Public AccountantsRegistered Public Interest Entity Auditor PRINCIPAL BANKERS Bank of China (Hong Kong) LimitedCathay Bank, Hong Kong BranchChina Construction Bank (Asia) Corporation LimitedDBS Bank (Hong Kong) LimitedHang Seng Bank LimitedThe Bank of East Asia, LimitedThe Hongkong and Shanghai Banking Corporation Limited REGISTERED OFFICE Cricket Square, Hutchins DriveP.O. Box 2681, Grand Cayman, KY1-1111Cayman Islands Cricket Square, Hutchins DriveP.O. Box 2681, Grand Cayman, KY1-1111Cayman Islands HEAD OFFICE AND PRINCIPAL PLACEOF BUSINESS IN HONG KONG 538252511-15 Room 2511-15, 25/F, Peninsula Tower,538 Castle Peak Road, Cheung Sha Wan,Kowloon, Hong Kong PRINCIPAL SHARE REGISTRAR AND TRANSFEROFFICE Conyers Trust Company (Cayman) LimitedCricket Square, Hutchins DriveP.O. Box 2681, Grand Cayman, KY1-1111Cayman Islands Conyers Trust Company (Cayman) LimitedCricket Square, Hutchins DriveP.O. Box 2681, Grand Cayman, KY1-1111Cayman Islands Corporate Information HONG KONG BRANCH SHARE REGISTRAR ANDTRANSFER OFFICE 1617 Tricor Investor Services Limited17/F, Far East Finance Centre,16 Harcourt Road,Hong Kong www.vmh.com.hk WEBSITEwww.vmh.com.hk STOCK CODE 15201520 Notes: 1.=2.=3.=4.=5.=6.=x7.=x8.=x 1.Current ratio = current assets/current liabilities2.Quick ratio = current assets less inventory/current liabilities3.Return on assets = Loss attributable to the owners of the Company for the year/total assets4.Return on equity = Loss attributable to the owners of the Company for the year/shareholders’ equity5.Gearing ratio = Total borrowings and lease liabilities/total equity6.Inventory turnover days = Inventory balance/cost of sales for the year x numberof days for the year7.Trade receivables turnover days = Trade receivables/revenue for the year xnumber of days for the year8.Trade payables turnover days = Trade payables/cost of sales for the year xnumber of days for the year Chairman’s Statement On behalf of the board (the “Board”) of directors (the “Directors”) ofVirtual Mind Holding Company Limited (the “Company”), I herebypresent the audited consolidated results of the Company andits subsidiaries (collectively, the “Group”) for the year ended 31December 2024. OVERVIEW In 2024, the global economy recovered slowly, but challenges suchas geopolitics and high inflation continued to pose significant threatsto global economy. Economies worldwide grappled with issuessuch as rising interest rates, declining consumer spending, and aweakening labor market, which contributed to a deceleration in globaleconomic growth. Despite facing challenges such as a sluggish real estate sector,weakening external demands, tense international trade conditions,and the impact of external uncertainties, the economy of Chinasustained a resilient recovery, while the government enacted aseries of policies to bolster economic growth and enhance structuraloptimization. In the foreseeable future, China will remain one of theprimary contributors to global economic growth, with its economicfoundation still robust. (IP) Over the recent years, intellectual property (IP) has been widelyapplied across various industries and has deeply integrated withthem. The Company has keenly observed future market trends,proactively responded, and strategically positioned itself ahead oftime. By establishing solid strategic partnerships with leading globalindustry players, the Company has deeply explored and broadlyexpanded our business in IP applications and product operations. Chairman’s Statement OUR PERFORMANCE Apparel Operation 47,907,00056,488,000 The Company has continued to provide a wide range of apparelproducts to multiple well-known brand owners or agents.Revenue from our apparel operation for 2024 was approximatelyHK$47,907,000 (2023: HK$56,488,000). To align with our strategyof focusing on product design and development, as well as ourstrengths in quality control and production management, we havedesigned, developed and produced apparel products based onthe evolving needs of our customers. The decrease in revenue in2024 has primarily resulted from the decr