Vico International : Interim Report 2022 (ENG)

CONTENTS

CORPORATE INFORMATION	2
MANAGEMENT DISCUSSION AND ANALYSIS	4
OTHER INFORMATION	11
CONDENSED CONSOLIDATED STATEMENT OF	19
PROFIT OR LOSS AND OTHER
COMPREHENSIVE INCOME
CONDENSED CONSOLIDATED STATEMENT OF	20
FINANCIAL POSITION
CONDENSED CONSOLIDATED STATEMENT OF	21
CHANGES IN EQUITY
CONDENSED CONSOLIDATED STATEMENT OF	22
CASH FLOWS
NOTES TO THE CONDENSED CONSOLIDATED	24
FINANCIAL STATEMENTS

CORPORATE INFORMATION

BOARD OF DIRECTORS

Executive Directors

Mr. HUI Pui Sing (Chairman)

Ms. TONG Man Wah

Mr. HUI Yip Ho Eric

(Chief Executive Officer)

Ms. HUI Wing Man Rebecca

Mr. KONG Man Ho

Non-executive Director

Mr. WONG Chun Man

Independent Non-Executive Directors

Mr. LEUNG Ho Chi

Mr. CHAN Ching Sum

Mr. TSE Yung Hoi

AUDIT COMMITTEE

Mr. LEUNG Ho Chi (Chairman)

Mr. CHAN Ching Sum

Mr. TSE Yung Hoi

REMUNERATION COMMITTEE

Mr. LEUNG Ho Chi (Chairman)

Mr. HUI Yip Ho Eric

Mr. TSE Yung Hoi

NOMINATION COMMITTEE

Mr. HUI Pui Sing (Chairman)

Mr. LEUNG Ho Chi

Mr. CHAN Ching Sum

AUTHORISED REPRESENTATIVES

Mr. HUI Yip Ho Eric

Mr. KONG Man Ho

COMPANY SECRETARY

Ms. CHAN Sze Ting (ACG, HKACG)

REGISTERED OFFICE

Third Floor, Century Yard

Cricket Square

P.O. Box 902

Grand Cayman KY1-1103

Cayman Islands

HEAD OFFICE AND PRINCIPAL PLACE OF BUSINESS IN HONG KONG

Unit D, 11/F, Billion Plaza II

No. 10 Cheung Yue Street

Cheung Sha Wan

Hong Kong

CAYMAN ISLANDS PRINCIPAL SHARE REGISTRAR AND TRANSFER OFFICE

Tricor Services (Cayman Islands) Limited

Third Floor, Century Yard

Cricket Square

P.O. Box 902

Grand Cayman KY1-1103

Cayman Islands

2 Vico International Holdings Limited INTERIM REPORT 2022

CORPORATE INFORMATION

HONG KONG BRANCH SHARE

REGISTRAR AND TRANSFER

OFFICE

Tricor Investor Services Limited

17/F, Far East Finance Centre

16 Harcourt Road

Hong Kong

AUDITORS

SHINEWING (HK) CPA Limited

Certified Public Accountants

PRINCIPAL BANKERS

Bank of China (Hong Kong) Limited

Chong Hing Bank Limited

STOCK CODE

1621

COMPANY WEBSITE

www.vicointernational.hk

Vico International Holdings Limited INTERIM REPORT 2022

3

MANAGEMENT DISCUSSION AND ANALYSIS

The board (the "Board") of directors (the "Directors") of Vico International Holdings Limited (the "Company") hereby presents the interim report of the Company and its subsidiaries (collectively referred to as the "Group" or "we") for the six months ended 30 September 2022 (the "Current Period").

BUSINESS REVIEW

The Group is principally engaged in the distribution of third-party branded petrochemicals, the sales of the self-branded lubricant oil and provides fleet card services in Hong Kong. The petrochemical products of the Group include (i) diesel; (ii) lubricant oil (including self- branded lubricant oil and third-party branded lubricant oil); and (iii) other petrochemicals such as bitumen.

The Group sourced semi-finished lubricant oil in bulk volume and finished lubricant oil from overseas suppliers for the in-house blending and repackaging into wholesale and retail packs for sales in Hong Kong.

The Group is also an authorized reseller of fleet cards. As at 30 September 2022, the Group operated a total number of 50,347 fleet card accounts (2021: 50,582 fleet card accounts).

Leveraging on the Group's experience and competitive strengths, for the Current Period, the Group's revenue, gross profit and net profit was approximately HK$504.6 million, HK$23.8 million and HK$8.6 million, respectively, representing a decrease of 18.9%, a decrease of 13.5% and a decrease of 15.8%, respectively as compared with the six months ended 30 September 2021 (the "Corresponding Period"). The decrease in profit for the Current Period was mainly attributable to the continue adverse impact brought by the outbreak of the COVID-19 pandemic.

4 Vico International Holdings Limited INTERIM REPORT 2022