Dear Shareholders,

As reflected on the financial year of 2023-2024, we are reminded of the unprecedent challenges and opportunities that have shaped the global economic landscape, it has been a period of significant transition, marked by the lingering impacts of the covid-19 pandemic, geopolitical tensions, regional wars, caused shifts in macroeconomic conditions, all of which have had far-reaching effects on business, markets, and industries worldwide.

The global economy has experienced a complex recovery, and fluctuating growth rates across regions. Over all, industries are facing very tough conditions and difficult to survive because of high interest rates, tightening of monetary policies by central bank, inflationary pressures, high cost of fuel, gas...etc.

Despite these headwinds, we have to find a way out to move forward, we believe tomorrow always will be better!

Meanwhile, we are keenly aware of the growing importance of the environmental, social and governance (ESG), as to participate, we started our "LCMP" program since 2018, this so call low carbon manufacturing program was launched by WWF (an environmental concern unit under the United Nations), though process was postponed due to the pandemic, we finally completed and passed all the audits and come back with award of gold metal. This might help our company to receive more orders from the green environment concerned buyers and avoid carbon tax in the near future. This award encouraged us to go further and put more efforts on the green substantial environmental development, eg. Installation of solar panels, in long term, it saves a lot of carbon emissions, and money as well.

Looking ahead, we expect the global economy to remain in a state of flux, with potential challenges stemming from geopolitical uncertainties, climate change, and evolving regulatory landscapes. However, we are confident in our ability to navigate these complexities, thanks to the strength of our leadership team, our dedicated employees, and our unwavering commitment to creating long-term value for our shareholders.

In conclusion, I would like to extend my heartfelt gratitude to our shareholders, employees, customers, and partners for their continued support and trust. As we move into the next financial year, we remain focused on our mission to drive sustainable growth, innovation, and value creation in a rapidly changing world.

Thanking you all.

Wong Kwok Chuen
Chairman