Plastec Technologies, Ltd. Files 20-F for Fiscal Year Ended December 31, 2023

TL;DR

<b>Plastec Technologies, Ltd. has submitted its 20-F annual report detailing financial performance and corporate information for the fiscal year ending December 31, 2023.</b>

AI Summary

Plastec Technologies, Ltd. (PLTYF) filed a Foreign Annual Report (20-F) with the SEC on April 26, 2024. Plastec Technologies, Ltd. filed its annual 20-F report for the fiscal year ending December 31, 2023. The filing includes financial data for the years ending December 31, 2023, 2022, 2021, and 2020. Key financial statement components such as Retained Earnings, Additional Paid-In Capital, and Accumulated Other Comprehensive Income are detailed for multiple fiscal years. The company's business address is Unit 01, 21/F, Aitken Vanson Centre, 61 Hoi Yuen Road, Kwun Tong, Kowloon. Plastec Technologies, Ltd. was formerly known as GSME Acquisition Partners I, with a name change effective April 24, 2008.

Why It Matters

For investors and stakeholders tracking Plastec Technologies, Ltd., this filing contains several important signals. This 20-F filing provides a comprehensive overview of Plastec Technologies' financial health and operational status for the past fiscal year, crucial for investors assessing the company's performance and future prospects. The detailed financial data, including historical figures for retained earnings and capital accounts, allows for trend analysis and comparison, aiding in investment decisions.

Risk Assessment

Risk Level: — Plastec Technologies, Ltd. shows moderate risk based on this filing. The filing is a standard annual report (20-F) and does not contain immediate red flags or significant negative disclosures, indicating a routine disclosure process.

Analyst Insight

Review the detailed financial statements and segment information within the 20-F filing to understand Plastec Technologies' performance and identify any emerging trends or risks.

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed period of report)
• 2024-04-26 — Filing Date (Date the 20-F was filed)
• 2008-04-24 — Name Change Date (Date of former name change)

Key Players & Entities

• Plastec Technologies, Ltd. (company) — Filer of the 20-F report
• GSME Acquisition Partners I (company) — Former name of Plastec Technologies, Ltd.
• 2023-12-31 (date) — Conformed period of report
• 2024-04-26 (date) — Filed as of date
• 852-21917155 (phone_number) — Business phone number

FAQ

Industry Context

Plastec Technologies operates within the plastics products manufacturing sector, a broad industry encompassing diverse applications from consumer goods to industrial components.

Regulatory Implications

As a foreign private issuer, Plastec Technologies files annual reports on Form 20-F, which are subject to SEC regulations but differ in certain disclosure requirements compared to domestic US companies.

What Investors Should Do

1. Analyze the detailed financial statements for the fiscal year ended December 31, 2023, to assess revenue, profitability, and balance sheet health.
2. Review any disclosed business segments or operational details to understand the company's core activities and market positioning.
3. Examine the company's capital structure and any changes in equity or debt over the reporting period.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 20-F filing.
• 2024-04-26: Filing Date — Date the 20-F report was officially submitted to the SEC.

Year-Over-Year Comparison

This filing represents the annual 20-F report for the fiscal year 2023, providing updated financial and operational information compared to previous filings.

Key Financial Figures

• $0.001 — the Act: Ordinary Share, par value U.S.$0.001 per share (Title of Class) Securitie
• $181,159,420 — rchase price of RMB 1,250,000,000 (or US$181,159,420), in cash (the "Transfer Price"). Of th
• $126,811,594 — e Transfer Price, RMB 875,000,000 (or US$126,811,594) was payable within 60 days after the C
• $54,347,826 — 6. The remaining RMB 375,000,000 (or US$54,347,826) of the Transfer Price (the "Remaining
• $183,958,100 — the year ended December 31, 2016 was HK$183,958,100, which was in excess of the performance
• $161,211,000 — year ended December 31, 2016, set at HK$161,211,000 in the Agreement, by HK$22,747,100 or a
• $22,747,100 — t HK$161,211,000 in the Agreement, by HK$22,747,100 or approximately 14.1%. Accordingly, we
• $16,413,043 — a further sum of RMB 113,250,000 (or US$16,413,043) of the Remaining Amount on June 1, 201
• $183,124,000 — the year ended December 31, 2017 was HK$183,124,000, which was in excess of the performance
• $177,088,000 — year ended December 31, 2017, set at HK$177,088,000 in the Agreement, by HK$6,036,000 or ap
• $6,036,000 — t HK$177,088,000 in the Agreement, by HK$6,036,000 or approximately 3.4%. Accordingly, we
• $18,026,087 — a further sum of RMB 124,380,000 (or US$18,026,087) of the Remaining Amount on May 25, 201
• $262,954,000 — the year ended December 31, 2018 was HK$262,954,000, which was in excess of the performance
• $195,408,000 — year ended December 31, 2018, set at HK$195,408,000 in the Agreement, by HK$67,546,000 or a
• $67,546,000 — t HK$195,408,000 in the Agreement, by HK$67,546,000 or approximately 34.6%. Accordingly, we

Filing Documents

• pltyf-20231231x20f.htm (20-F) — 1310KB
• pltyf-20231231xex8d1.htm (EX-8.1) — 17KB
• pltyf-20231231xex12d1.htm (EX-12.1) — 14KB
• pltyf-20231231xex12d2.htm (EX-12.2) — 14KB
• pltyf-20231231xex13d1.htm (EX-13.1) — 10KB
• pltyf-20231231x20f001.jpg (GRAPHIC) — 65KB
• pltyf-20231231x20f002.jpg (GRAPHIC) — 4KB
• pltyf-20231231x20f004.jpg (GRAPHIC) — 4KB
• 0001410578-24-000542.txt (&nbsp;) — 4861KB
• pltyf-20231231.xsd (EX-101.SCH) — 34KB
• pltyf-20231231_cal.xml (EX-101.CAL) — 34KB
• pltyf-20231231_def.xml (EX-101.DEF) — 90KB
• pltyf-20231231_lab.xml (EX-101.LAB) — 219KB
• pltyf-20231231_pre.xml (EX-101.PRE) — 189KB
• pltyf-20231231x20f_htm.xml (XML) — 671KB

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK. 44 ITEM 12.

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES. 44 PART II 45 ITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES. 45 ITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS. 45 ITEM 15.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES. 45 ITEM 16. [RESERVED]. 46 ITEM 16A. AUDIT COMMITTEE FINANCIAL EXPERT. 46 ITEM 16B. CODE OF ETHICS. 46 ITEM 16C. PRINCIPAL ACCOUNTANT FEES AND SERVICES. 46 ITEM 16D. EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES. 47 ITEM 16E. PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS. 47 ITEM 16F. CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT. 47 ITEM 16G. CORPORATE GOVERNANCE. 47 ITEM 16H. MINE SAFETY DISCLOSURE. 47 ITEM 16I. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS. 47 ITEM 16J. INSIDER TRADING POLICIES. 47 ITEM 16K. CYBERSECURITY. 47 PART III 48 ITEM 17.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS. 48 ITEM 18.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS. 48 ITEM 19. EXHIBITS. 50

SIGNATURES

SIGNATURES 51 EXHIBIT INDEX 52 2 Table of Contents INTRODUCTION Definitions Unless the context indicates otherwise: "we," "us," "our," "our company" and "Plastec Technologies" refer to Plastec Technologies, Ltd., a Cayman Islands exempted company, its predecessor entities and direct and indirect subsidiaries; "Plastec" refers to Plastec International Holdings Limited, a British Virgin Islands exempted company, formerly our direct wholly owned subsidiary until October 11, 2016; "BVI" refers to the British Virgin Islands; "China," "mainland China" or the "PRC" refer to the People's Republic of China which, solely for the purpose of this Annual Report on Form 20-F, excludes Taiwan and the special administrative regions of Hong Kong and Macau; "HK$" or "Hong Kong dollar" refer to the lawful currency of the Hong Kong Special Administrative Region, People's Republic of China; if not otherwise indicated, all financial information presented in HK$/RMB may be converted to U.S.$ or $ using the exchange rates of 7.8 HK$ and 6.9 RMB, respectively, for every 1 U.S.$ or $; "Renminbi" or "RMB" refer to the lawful currency of China; and "U.S.$" or "$" or "U.S. dollar" refer to the lawful currency of the United States of America.

Forward-Looking Statements

Forward-Looking Statements This Annual Report on Form 20-F (this "Form 20-F") contains forward-looking statements that involve risks and uncertainties. All statements other than statements of historical facts are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from those expressed or implied by the forward-looking statements. These forward-looking statements include information about our possible or assumed future results of operations or our performance. Words such as "expects," "intends," "plans," "believes," "anticipates," "estimates," and variations of such words and similar expressions are intended to identify the forward-looking statements. Although we believe that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to be correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates which are inherently subject to significant uncertainties and contingencies, many of which are beyond our control. Actual results may differ materially from those expressed or implied by such forward-looking statements. We undertake no obligation to publicly update or revise any forward-looking statements contained in this Form 20-F, or the documents to which we refer you in this Form 20-F, to reflect any change in our expectations with respect to such statements or any change in events, conditions or circumstances on which any statement is based. This report should be read in conjunction with our audited consolidated financial statements and the accompanying notes thereto for the fiscal year ended December 31, 2023, which are included in Item 18 to this Form 20-F. 3 Table of Contents INTRODUCTION Overview We are currently a Cayman Islands exempted company with current limited operat

View Full Filing

View this 20-F filing on SEC EDGAR