Bowker (Viet Nam) Garment Factory Co., Ltd (Vietnam)

The subject engages in manufacturing and processing sport clothes, jacket under original equipment manufacturing (OEM) arrangements for a number of internationally renowned brands such as Adidas, Reebok, Jak, Jakio, Rei, Aigle, Nike, Puma…The group has participated in several defined contribution retirement schemes which cover the eligible employees in Vietnam, China, etc. Amounts represented receivables from a landlord in Vietnam which were repayable semi-annually, unsecured, interest-bearing at 5% per annum. Cash and bank deposits held in Vietnam are subject to local exchange control regulations that provide restrictions on remitting funds out of the country, other than through normal dividends.The group renewed its lease contract with a third party for certain factories in Binh Duong Province, Vietnam for a term of 6 years from 1 Feb 2021 to 31 Jan 2027 with an option to extend for a further term of 3 years at the discretion of the Tenant under the lease contract is approximately VND 214.6 billion (equivalent to approximately HK$ 72.7 million).Win Hanverky Holdings Limited (SEHK: 3322) is a 57.91% subsidiary of Quinta Asia Limited – ultimate parent company's major shareholders are Mr. Li Kwok Tung Roy (70%) and Mr Lai Ching Ping (30%) as at 30 June 2022. Win Hanverky's business activity is specialized in the manufacturing and selling of garment products (sportswear, high-end functional outerwear, high-end fashion apparel and related accessories). The group's customers are located mainly in EU, US, Mainland China and other countries for OEM arrangements and Mainland China, Hong Kong, Macau, Taiwan and Singapore for retail modes.The group's production bases are primarily located in Mainland China, Vietnam and Cambodia. Sales breakdown by business for the year ended 31 Dec 2021 consist of manufacturing – 70.8% and high-end fashion retailing – 29.2%. In addition to this, the factories in Vietnam contributed 33.6% of the Win Hanverky group's total revenue and 48.5% of the revenue from the Win Hanverky group's manufacturing Business for the year 2020.