Financial Statements and Related Announcement::Half Yearly Results

(Singapore stock code: BDR)

I n t e r i m R e p o r t

2021/22

Contents

CORPORATE INFORMATION	2
FINANCIAL HIGHLIGHTS	4
MANAGEMENT DISCUSSION AND ANALYSIS	5
DISCLOSURE OF INTERESTS	13
CORPORATE GOVERNANCE AND OTHER INFORMATION	18
REPORT ON REVIEW OF CONDENSED CONSOLIDATED
FINANCIAL STATEMENTS	20
CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS
AND OTHER COMPREHENSIVE INCOME	21
CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION	22
CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY	24
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS	26
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS	27

Corporate Information

DIRECTORS

Non-executive Director

Leung Chun Wah (Chairman)

Executive Directors

Hon Kar Chun (Managing Director)

Leung Hon Shing

Leung Chi Hang Daniel

Independent Non-executive Directors

Wong Kwan Seng, Robert

Iu Po Chan, Eugene

Lim Lee Meng

COMPANY SECRETARY

Leung Hon Shing

AUDIT COMMITTEE

Lim Lee Meng (Chairman)

Wong Kwan Seng, Robert

Iu Po Chan, Eugene

REMUNERATION COMMITTEE

Iu Po Chan, Eugene (Chairman)

Wong Kwan Seng, Robert

Lim Lee Meng

NOMINATION COMMITTEE

Wong Kwan Seng, Robert (Chairman)

Iu Po Chan, Eugene

Lim Lee Meng

COMPLIANCE COMMITTEE

Iu Po Chan, Eugene (Chairman)

Wong Kwan Seng, Robert

Lim Lee Meng

EMPLOYEE SHARE OPTION SCHEME COMMITTEE

Leung Chun Wah (Chairman)

Iu Po Chan, Eugene

Hon Kar Chun

AUTHORISED REPRESENTATIVES

Hon Kar Chun

Leung Hon Shing

REGISTERED OFFICE

Victoria Place, 5/F 31 Victoria Street Hamilton HM10 Bermuda

HEADQUARTERS AND PRINCIPAL PLACE OF BUSINESS IN HONG KONG

24/F, Wyler Centre, Phase 2

200 Tai Lin Pai Road

Kwai Chung, New Territories

Hong Kong

BERMUDA PRINCIPAL SHARE REGISTRAR AND TRANSFER OFFICE

Ocorian Management (Bermuda) Limited Victoria Place, 5/F

31 Victoria Street

Hamilton HM10 Bermuda

SINGAPORE SHARE TRANSFER AGENT

Boardroom Corporate & Advisory Services Pte. Ltd.

50 Raffles Place

#32-01 Singapore Land Tower

Singapore 048623

2 Willas-Array Electronics (Holdings) Limited • Interim Report 2021/22

Corporate Information

HONG KONG BRANCH SHARE REGISTRAR

AND TRANSFER OFFICE

Boardroom Share Registrars (HK) Limited

Room 2103B, 21/F

148 Electric Road

North Point

Hong Kong

INDEPENDENT AUDITOR

Deloitte Touche Tohmatsu

Registered Public Interest Entity Auditors

35/F, One Pacific Place

88 Queensway Hong Kong

COMPANY WEBSITE

www.willas-array.com

LISTING INFORMATION

Place of Listing

Main Board of The Stock Exchange of Hong Kong

Limited

Main Board of Singapore Exchange Securities

Trading Limited

Stock Code

Hong Kong: 854

Singapore: BDR

Board Lot

Hong Kong: 1,000 shares

Singapore: 100 shares

Willas-Array Electronics (Holdings) Limited • Interim Report 2021/22

3

Financial Highlights

Willas-Array Electronics (Holdings) Limited (the "Company") was incorporated in Bermuda on August 3, 2000 as an exempted company with limited liability under the Companies Act 1981 of Bermuda. The issued ordinary shares of the Company (the "Shares") are listed and traded on the Main Board of Singapore Exchange Securities Trading Limited (the "SGX-ST") and the Main Board of The Stock Exchange of Hong Kong Limited (the "SEHK").

The board of directors of the Company (the "Directors" and the "Board", respectively) is pleased to announce the unaudited condensed consolidated results of the Company and its subsidiaries (collectively, the "Group", "We" or "Our") for the six months ended September 30, 2021, together with the comparative figures for the six months ended September 30, 2020 as follows:

FINANCIAL HIGHLIGHTS

	For the six months
	ended September 30,
	2021	2020	Change
	HK$'000	HK$'000	%
	(Unaudited)	(Unaudited)
Revenue	1,785,868	1,687,189	+5.8
Gross profit	171,049	137,107	+24.8
Profit before tax	55,447	25,136	+120.6
Profit attributable to owners
of the Company	43,534	22,393	+94.4
Basic earnings per share (HK cents)	51.09	26.28	+94.4

4 Willas-Array Electronics (Holdings) Limited • Interim Report 2021/22