Silkwave Inc's annual report for the year 2023 to December 31 has been released, with the group's revenue of about $730 million and a loss before tax of about $7440 million. The Group has a total assets of $4470 million and total liabilities of $1160 million. The annual report shows that the company complies with the Hong Kong Financial Reporting Standards and the Hong Kong Companies Ordinance and meets the sufficient volume of public offerings required by the Listing Rules. The Group has not proposed a year-end dividend. The Group's five customers account for 100% of revenue and the two largest suppliers account for 71.7% of the cost of sales. In terms of share capital and reserves, the distributable capital premium is approximately USD...Show More

Silkwave Inc's annual report for the year 2023 to December 31 has been released, with the group's revenue of about $730 million and a loss before tax of about $7440 million. The Group has a total assets of $4470 million and total liabilities of $1160 million. The annual report shows that the company complies with the Hong Kong Financial Reporting Standards and the Hong Kong Companies Ordinance and meets the sufficient volume of public offerings required by the Listing Rules. The Group has not proposed a year-end dividend. The Group's five customers account for 100% of revenue and the two largest suppliers account for 71.7% of the cost of sales. In terms of share capital and reserves, the distributable capital premium is approximately USD 8010 million. Changes in directors and management are subject to change and details are provided in the report. A new share selection scheme has been adopted to incentivise directors and eligible participants. Linksfield CPA Limited will be proposed for reappointment as Auditor of the Year. The Group is committed to sustainability and environmental protection and has policies in place to reduce environmental impacts in compliance with relevant laws. At the social level, the Group focuses on employment, health and safety, development and training, labour standards, supply chain management, product responsibility, anti-corruption and community investment. During the reporting period, no associated transactions are required to be reported under Listing Rules or approved by shareholders, other than disclosed transactions. No Disclosure of Competitive Interests by Directors. CCH and CCS are significant shareholders whose interests in shares and convertible notes are detailed in the reports. The company maintains a sufficient volume of public offerings throughout the year. Independent Non-Executive Directors confirm their independence under the Listing Rules. In terms of future development, the Group will focus on sustainability, including environmental protection, talent development and community engagement.