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Online Interim Results Press Conference

On 21 August 2020, Town Ray Holdings held an interim results press conference in the form of a virtual video conference attended by its senior management including Chairman and Non-Executive Director Dr. Chan Kam Kwong, Charles, Chief Executive Officer and Executive Director Mr. Chan Wai Ming, Company Secretary, Executive Director and Chief Financial Director Mr. Chiu Wai Kwong, Executive Director and Managing Director Ms. Tang Mei Wah, and Executive Director and Marketing Director Mr. Yu Kwok Wai. The Group’s management introduced the company's latest operating conditions, reviewed the results for the first half of 2020, shared its future development strategies, and answered questions from various media in the meeting.

Mr. Chiu Wai Kwong, Company Secretary, Executive Director and Chief Financial Officer, reported the Group's impressive financial results. For the first half of 2020, gross profit margin maintained at 33.4%, but net profit was increased by approximately 39.4% to approximately HK$34.8 million, with earnings per share of approximately HK8.76 cents, and an interim dividend of HK8.90 cents per share. The dividend payout ratio exceeded 100%.

Dr. Chan Kam Kwong, Charles, Chairman and Non-Executive Director also revealed the future growth direction of the Group. The Group plans to develop nearly 30 new products, including 15 garment care appliances and 15 cooking appliances. In response to the growth in the demand for small appliances, especially cooking appliances , the Group is negotiating orders with a number of new customers, entering into new markets while developing its own brand to enter the Chinese market. In addition, the Group will increase its investment in research and development to expand its research and development team in Hong Kong , broaden its product range and optimise product functions , and develop new home appliances in line with "smart cooking" and "Internet of Things" trends. In terms of production capacity, the Group will optimise its operating processes and improve operational efficiency in accordance with Industry 4.0 standards.