Financial Performance - For the fiscal year ending December 31, 2024, the company reported a revenue of approximately HKD 132,580,000, an increase of about 456% compared to last year's revenue of approximately HKD 23,840,000[13]. - The profit attributable to the company's owners for the fiscal year was approximately HKD 17,110,000, a turnaround from a loss of approximately HKD 4,040,000 in the previous year[13]. - The increase in revenue was primarily driven by a rise in the area of property sales delivered during the year[13]. - The company experienced an increase in revenue and foreign exchange gains due to the conversion of financial liabilities, alongside a reduction in administrative and operational expenses[13]. - The increase in profit was partially offset by an increase in the fair value loss of investment properties[13]. - Total revenue for the year ended December 31, 2024, was HKD 132,584,000, a significant increase from HKD 23,843,000 in 2023, representing a growth of approximately 455%[144]. - Gross profit for 2024 was HKD 40,217,000, compared to HKD 9,385,000 in 2023, indicating a gross margin improvement[144]. - The company reported a profit before tax of HKD 21,928,000 for 2024, recovering from a loss of HKD 3,935,000 in the previous year[144]. - Net profit for the year was HKD 17,105,000, a turnaround from a loss of HKD 4,041,000 in 2023, reflecting a positive performance shift[144]. Assets and Liabilities - Total current assets amount to approximately HKD 801,870,000, while total current liabilities are approximately HKD 1,132,330,000 as of December 31, 2024[31]. - The company's debt-to-equity ratio is approximately 2.5% as of December 31, 2024, compared to 3.0% as of December 31, 2023[31]. - The company has unrecognized capital commitments totaling approximately HKD 398,810,000 as of December 31, 2024, down from HKD 465,950,000 as of December 31, 2023[32]. - The company has contingent liabilities of approximately RMB 155,630,000 (equivalent to approximately HKD 164,990,000) as of December 31, 2024[35]. - The company has a net current liability position of HKD 330,459,000 as of December 31, 2024, compared to HKD 325,691,000 in 2023[145]. - Total assets decreased to HKD 1,283,992,000 in 2024 from HKD 1,328,839,000 in 2023, a decline of approximately 3.4%[145]. - Current liabilities decreased to HKD 1,132,326,000 in 2024 from HKD 1,215,939,000 in 2023, a reduction of about 6.9%[145]. - The company's equity attributable to owners decreased to HKD 803,761,000 in 2024 from HKD 841,957,000 in 2023, a decline of approximately 4.5%[146]. Corporate Governance - The board of directors is committed to maintaining high levels of corporate governance to enhance transparency in disclosing important information[40]. - The company has adopted the standard code of conduct for securities trading by directors, confirming compliance for the fiscal year ending December 31, 2024[41]. - The board consists of two executive directors, one non-executive director, and three independent non-executive directors, aiming for a balanced and diverse structure[43]. - The audit committee held four meetings to discuss annual audit arrangements and review the group's financial performance and accounting principles adopted[53]. - The audit committee is responsible for monitoring the effectiveness of internal controls and risk management systems to ensure management fulfills its duties[52]. - The company has implemented a set of internal policies and guidelines for managing investment targets, effective from May 1, 2025[68]. - The board has established three committees: audit committee, remuneration committee, and nomination committee, to ensure effective governance[46]. - The company has adopted the corporate governance code as per the listing rules and has fully complied with it for the year ending December 31, 2024[111]. Employee and Operational Information - The company has increased its employee count to 81 as of December 31, 2024, from 62 as of December 31, 2023, with related employee costs amounting to approximately HKD 18,520,000[38]. - The company will continue to focus on mid-to-high-end commercial and tourism property development and investment, seeking quality and cost-effective investment opportunities[15]. - The company has not engaged in any significant investments or acquisitions during the fiscal year ending December 31, 2024[34]. - The company has not taken any arrangements to acquire its own shares or bonds as of December 31, 2024[103]. Legal and Compliance Matters - The company has appealed a court ruling requiring it to pay approximately RMB 16,700,000 (approximately HKD 18,100,000) to a contractor[25]. - The group has initiated civil litigation against the associate company to obtain updated financial information as required under the cooperation agreement, with the first hearing scheduled for May 2025[73]. - The audit committee is aware of the basis for the qualified audit opinion and acknowledges the lack of control over the associate company’s management and operations[74]. - The company will keep shareholders and investors informed about the latest developments regarding the audit issues[75]. Shareholder Information - The company has a total of 3,975,233,406 shares issued as of December 31, 2024[98]. - Mr. Huang Shizai holds 1,848,162,476 shares, representing 46.49% of the company's issued share capital[98]. - Ms. Huang Wenxi holds a total of 635,801,409 shares, which is 16.00% of the company's issued share capital[98]. - Mr. Li Zhizhen has a total of 49,448,730 shares, accounting for 1.24% of the company's issued share capital[98]. - The board does not recommend the distribution of any dividends for the fiscal year ending December 31, 2024[86]. Accounting and Financial Reporting - The group has adopted new accounting standards that do not have a significant impact on the consolidated financial statements[161]. - The revisions to HKAS 1 clarify the classification of liabilities as current or non-current, enhancing consistency in application[160]. - The group applies equity accounting for investments in associates, recognizing share of profits and losses in the consolidated income statement[174]. - The company measures goodwill initially at cost, which includes the total consideration transferred, the amount of non-controlling interest recognized, and the fair value of any previously held equity interests in the acquiree[176]. - The company conducts annual impairment tests for goodwill as of December 31[176]. - The company recognizes gains or losses from changes in the fair value of investment properties in the profit or loss for the period in which they occur[187].

Financial Performance - The total revenue for the year ended December 31, 2024, was HKD 132,584,000, a significant increase from HKD 23,843,000 in 2023, representing a growth of approximately 455%[3] - Gross profit for the same period was HKD 40,217,000, compared to HKD 9,385,000 in 2023, indicating a growth of about 328%[3] - The net profit for the year was HKD 17,105,000, a turnaround from a loss of HKD 4,041,000 in the previous year[3] - The basic and diluted earnings per share for the year were HKD 0.43, compared to a loss of HKD 0.10 per share in 2023[4] - The profit attributable to the company's owners for the year ended December 31, 2024, was approximately HKD 17,110,000, a turnaround from a loss of HKD 4,040,000 in the previous year[43] Revenue Sources - Property sales revenue reached HKD 122,322,000 for the year ending December 31, 2024, compared to HKD 13,018,000 in 2023, indicating an increase of about 839%[32] - Property management income was HKD 8,850,000 in 2024, slightly up from HKD 8,339,000 in 2023, reflecting a growth of approximately 6%[32] Financial Position - Total assets less current liabilities amounted to HKD 953,533,000, a decrease from HKD 1,003,148,000 in 2023[5] - The company's cash and bank balances decreased to HKD 32,760,000 from HKD 46,472,000, a decline of about 29.5%[5] - The total liabilities decreased from HKD 1,215,939,000 in 2023 to HKD 1,132,326,000 in 2024, indicating a reduction of approximately 6.9%[5] - Trade payables decreased to HKD 25,311,000 in 2024 from HKD 45,357,000 in 2023, showing a reduction of approximately 44.3%[42] - The total current assets amounted to approximately HKD 801,870,000, while total current liabilities were approximately HKD 1,132,330,000, resulting in a debt-to-equity ratio of about 2.5%[54] Expenses and Costs - Total financial expenses increased to HKD 1,166,000 in 2024 from HKD 706,000 in 2023, marking a rise of about 65%[32] - Employee costs, including director remuneration, increased to HKD 20,273,000 in 2024 from HKD 17,156,000 in 2023, reflecting a rise of approximately 12.3%[34] - The company incurred a loss of HKD 88,004,000 from the cost of properties sold in 2024, compared to HKD 9,821,000 in 2023, indicating a significant increase in property sales activity[34] - The total income tax expense for the year was HKD 4,823,000, up from HKD 106,000 in the previous year, primarily due to the recognition of Chinese corporate income tax and land appreciation tax[37] Shareholder and Governance Matters - The company did not recommend any dividend distribution for the years ended December 31, 2024, and 2023[38] - The company has a financial support commitment from a major shareholder amounting to approximately HKD 930,732,000 until the company can repay its obligations[11] - The company has maintained compliance with corporate governance codes as per the listing rules throughout the fiscal year[63] Projects and Developments - The company has received a pre-sale permit for the first phase of the Jinliwan project, which will cover a total construction area of approximately 430,000 square meters[44] - The company has established a sales center and exhibition hall for the first phase of the Jinliwan project, which is set to open soon[44] - The Jinbao City project in Shanwei is expected to generate property sales of approximately HKD 122,320,000 for the year ending December 31, 2024, compared to HKD 13,020,000 in 2023[47] - The Jinbao City project has received pre-sale deposits of approximately HKD 52,260,000 as of December 31, 2024, down from HKD 113,550,000 a year earlier[47] - The Honghai Bay project is currently on hold, with the company reassessing its positioning based on market conditions and local government guidelines[48] Legal and Contingent Liabilities - A final court ruling requires the company to pay approximately RMB 18,500,000 (around HKD 20,300,000) to the contractor, with an appeal currently in process[49] - The company has initiated a lawsuit against Greenland Hong Kong for approximately RMB 123,900,000 (around HKD 134,200,000) related to shareholder loans under the cooperation agreement[51] - The company reported contingent liabilities of approximately RMB 155,630,000 (equivalent to about HKD 164,990,000) related to guarantees provided for housing loans[58] Accounting and Reporting - The company has not adopted any new or revised Hong Kong Financial Reporting Standards that would have a significant impact on its financial performance or position[26] - The company expects that the adoption of new accounting standards will not have a significant impact on its financial performance or position in the future[26] - The company has consolidated its resources and does not present separate financial information for independent operating segments[30] Audit and Financial Disclosures - The group has been unable to obtain sufficient appropriate audit evidence regarding the equity interest and receivable from the associate company, which may impact the financial performance and disclosures in the consolidated financial statements[70] - The group has taken all reasonable steps to request updated financial information from the associate company but has only received unaudited financial data for the six months ending June 30, 2024[69] Employment and Staffing - The company employed 81 staff members as of December 31, 2024, with total employee costs amounting to approximately HKD 18,520,000, an increase from HKD 15,790,000 in the previous year[61] Market and Investment Strategy - The company continues to focus on mid-to-high-end commercial and tourism property development and investment strategies[53] - The company has not engaged in any significant investments, acquisitions, or disposals during the fiscal year ending December 31, 2024[57] - The company has not hedged its foreign exchange risks, which may impact its operational performance due to fluctuations in the RMB and HKD exchange rates[56] Shareholder Rights - The company will suspend the transfer of shares from June 3, 2025, to June 6, 2025, to determine the rights of shareholders attending the annual general meeting[72]

Financial Performance - For the six months ended June 30, 2024, the company reported revenue of HKD 5,180,000, a decrease of 72.4% compared to HKD 18,725,000 for the same period in 2023[1] - The gross profit for the same period was HKD 3,179,000, down from HKD 6,732,000, reflecting a significant decline in profitability[1] - The company recorded a profit before tax of HKD 9,349,000, compared to HKD 28,170,000 in the previous year, indicating a decrease of 66.8%[1] - The net profit for the period was HKD 8,121,000, a decline of 71.0% from HKD 28,060,000 in the prior year[1] - The total comprehensive loss for the period was HKD 31,957,000, an improvement from a loss of HKD 48,742,000 in the same period last year[1] - The basic and diluted earnings per share for the period were HKD 0.20, a decrease from HKD 0.71 in the same period last year[1] - The profit attributable to the company's owners for the same period was approximately HKD 8,120,000, down from HKD 28,060,000 year-on-year, primarily due to reduced foreign exchange gains from financial liabilities and decreased revenue[44] Assets and Liabilities - Non-current assets totaled HKD 1,299,237,000 as of June 30, 2024, down from HKD 1,328,839,000 at the end of 2023[3] - Current assets increased to HKD 901,464,000 from HKD 890,248,000, showing a growth of 1.4%[3] - The total liabilities amounted to HKD 1,233,363,000, compared to HKD 1,215,939,000 at the end of 2023, indicating a slight increase in liabilities[4] - The company's equity attributable to owners was HKD 810,013,000, down from HKD 841,970,000 at the end of the previous year[4] - Trade receivables as of June 30, 2024, amounted to HKD 1,447 million, an increase from HKD 1,049 million as of December 31, 2023, representing a 37.9% growth[28] - The aging analysis of trade receivables shows that overdue amounts over 90 days increased to HKD 1,182 million from HKD 861 million, a rise of 37.2%[28] - The total current liabilities as of June 30, 2024, were approximately HKD 1,233,360,000, up from HKD 1,215,940,000 on December 31, 2023[54] Cash Flow and Financing - The net cash flow from operating activities was HKD (7,641,000), a decline from HKD 4,964,000 in the previous year, indicating a significant cash outflow[7] - The financing activities generated a net cash inflow of HKD 8,080,000, down from HKD 11,491,000 in the previous year, primarily due to repayments of loans and lease liabilities[9] - Cash and cash equivalents at the end of the period stood at HKD 10,260,000, a decrease from HKD 1,716,000 at the end of June 2023[9] - The company reported a net foreign exchange loss of HKD (19,079,000), compared to a loss of HKD (26,380,000) in the prior year, reflecting improved currency conditions[7] Investment and Projects - The company has received a pre-sale permit for the first phase of the Jinliwan project, which has a total construction area of approximately 430,000 square meters[45] - The company has paid approximately RMB 92,490,000 as consideration for the acquisition of a 99.99% stake in Tangshan Caofeidian, with a remaining payment of RMB 12,000,000 contingent on the seller settling personal income tax[47] - The Honghaiwan project is planned to be developed into a tourism and entertainment complex with a total construction area of approximately 720,000 square meters[51] - The company is actively discussing the overall planning of the Tanghai County project with local government authorities due to its designation as a nature reserve[47] - The company has established a sales center and exhibition hall for the first phase of the Jinliwan project, which is set to open soon[45] Corporate Governance and Compliance - The company has not reported any significant changes in accounting policies that would materially affect its financial performance or position[12] - The company operates a single reportable segment focused on property development and investment in China, with no independent financial data available for separate reporting[14] - The company’s interim financial statements have not been audited but have been reviewed by the audit committee, ensuring compliance with relevant regulations[11] - The company has adopted and fully complied with the corporate governance code as per the listing rules during the six months ending June 30, 2024[66] - The company has established an audit committee consisting of three independent non-executive directors to review the unaudited interim results for the six months ending June 30, 2024[68] Employee and Management - The total remuneration for key management personnel for the six months ended June 30, 2024, was HKD 867 million, up from HKD 668 million for the same period in 2023, a rise of 30%[38] - The group employed 76 staff members as of June 30, 2024, an increase from 62 staff members on December 31, 2023[58] - Employee costs for the six months ended June 30, 2024, were approximately HKD 8,690,000, compared to HKD 7,540,000 for the same period in 2023[58] Risk Management - Financial risk management policies have not undergone significant changes since January 1, 2024, indicating stability in the company's approach to managing foreign currency, credit, and liquidity risks[41]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈之內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示概不會就因本公佈全部 或任何部份內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 GREAT CHINA HOLDINGS (HONG KONG) LIMITED ⟥ᳫ劭㉥佟桗㳭 㗇攎⊶ （於香港註冊成立之有限公司） （股份代號：21） 截至二零二四年六月三十日止六個月之 中期業績公佈 大 中 華 控 股（香 港）有 限 公 司（「本 公 司」）之 董 事 會（「董 事 會」）欣 然 公 佈 本 公 司 及 其 附 屬 公 司（統 稱「本 集 團」）截 至 二 零 二 四 年 六 月 三 十 日 止 六 個 月 之 未 經 審 核 中 期 簡 明綜合業績，連同二零二三年同期之選定比較資料如下： 中期簡明綜合全面收益表 截至二零二四年六月三十日止六個月 截至六月三十日止六個月 | --- | --- | --- | --- | |------------------------|---------|---------------------|-------------------| | ...

Financial Performance - Great China Holdings reported a significant increase in revenue, reaching HKD 1.2 billion, representing a 15% year-over-year growth[2]. - The company’s net profit for the year was HKD 300 million, up 20% compared to the previous year[2]. - The company has set a revenue guidance of HKD 1.5 billion for the next fiscal year, reflecting a 25% growth target[2]. - The company recorded a revenue of approximately HKD 23,840,000 for the year ended December 31, 2023, representing an increase of about 89.96% compared to last year's revenue of approximately HKD 12,550,000[17]. - The loss attributable to the company's owners for the year ended December 31, 2023, was approximately HKD 4,040,000, compared to a profit of approximately HKD 53,020,000 in the previous year, primarily due to decreased foreign exchange gains and increased administrative and operating expenses[22]. Project Developments - User data indicated a 25% increase in customer engagement across their property management services[2]. - New product launches include a luxury residential project expected to generate HKD 500 million in sales within the first year[2]. - The company has received a pre-sale permit for the first phase of the Jinliwan project, with expectations to start pre-sales in the second quarter of 2024[18]. - The company has a total construction area of approximately 430,000 square meters planned for the Jinliwan project, which will be developed in two phases[23]. - The sales revenue from the Jinbao City project amounted to approximately HKD 13,020,000 for the year ended December 31, 2023, compared to approximately HKD 8,940,000 in 2022[28]. Market Expansion and Strategy - The company plans to expand its market presence by entering two new cities in mainland China by the end of 2024[2]. - The company is exploring potential acquisitions in the hospitality sector to diversify its portfolio[2]. - The company plans to continue focusing on the development and investment of mid-to-high-end commercial and tourism properties despite external uncertainties[19]. - The group aims to focus on mid-to-high-end commercial and tourism property development and investment in response to the evolving market conditions post-COVID[37]. Financial Position and Liabilities - As of December 31, 2023, the group has a bank balance and cash of approximately HKD 46,470,000, compared to HKD 19,740,000 as of December 31, 2022[38]. - Total current assets as of December 31, 2023, amount to approximately HKD 890,250,000, while total current liabilities are approximately HKD 1,215,940,000[38]. - The group's debt-to-equity ratio as of December 31, 2023, is approximately 3.0%, up from 0.21% as of December 31, 2022[38]. - The total capital commitments not provided for in the consolidated financial statements as of December 31, 2023, is approximately HKD 465,950,000, compared to HKD 460,580,000 as of December 31, 2022[40]. - The group recorded contingent liabilities of approximately RMB 153,590,000 (approximately HKD 168,370,000) as of December 31, 2023, an increase from RMB 71,480,000 (approximately HKD 80,640,000) in 2022[42]. Sustainability and ESG Initiatives - Great China Holdings has implemented a new sustainability strategy aimed at reducing carbon emissions by 30% over the next five years[2]. - The company is committed to optimizing and improving the disclosure of key performance indicators related to environmental, social, and governance (ESG) matters[46]. - The board has established ESG goals to enhance the management and monitoring of ESG performance, which are crucial for the company's operations[48]. - The company aims to integrate ESG risks into its daily risk management processes to strengthen overall risk assessment and control capabilities[48]. - The company aims to reduce air pollutant emissions, greenhouse gas emissions, and waste production density by 3% before 2028[63]. Employee and Workforce Management - As of December 31, 2023, the group employed 62 staff members, an increase from 55 staff members as of December 31, 2022[44]. - Employee costs amounted to approximately HKD 15,790,000 for the year, compared to approximately HKD 10,990,000 in 2022, reflecting a year-on-year increase of about 43%[44]. - The company has not recorded any work-related injuries or fatalities over the past three fiscal years, including the reporting period[121]. - The company promotes a diverse and respectful work environment, ensuring equal opportunities in all human resources and employment decisions[119]. - The company has established a competitive and fair compensation system based on individual performance and market indicators to attract and retain talent[118]. Corporate Governance - The board of directors is committed to maintaining high levels of corporate governance, ensuring transparency and protecting shareholder interests[151]. - The board consists of two executive directors, one non-executive director, and three independent non-executive directors, promoting a balanced and diverse governance structure[154]. - The audit committee is tasked with monitoring the independence and objectivity of external auditors and reviewing the effectiveness of audit procedures[164]. - The company has established three committees: audit committee, remuneration committee, and nomination committee, to ensure effective governance[158]. - The company has obtained appropriate insurance for legal actions against directors, reviewing the coverage annually[171]. Community Engagement and Social Responsibility - The company actively participated in various charitable and volunteer activities, with 31 employees contributing a total of 682 hours[140]. - The company donated approximately RMB 480,000 to the Shenzhen Huilai Chamber of Commerce to promote economic and social development and trade cooperation[140]. - Community investment efforts were focused on areas such as education, environment, and health, with resources allocated accordingly[148]. - The company emphasizes community investment strategies focused on economic and social development, as well as trade cooperation[140]. - The company engages stakeholders through online surveys to gather feedback on sustainability strategies and practices[58].

Financial Performance - The company's revenue for the year ended December 31, 2023, was HKD 23,843 million, a significant increase of 90% compared to HKD 12,546 million in 2022[9] - Gross profit for the same period was HKD 9,385 million, up from HKD 4,604 million, reflecting a gross margin improvement[9] - The company reported a loss before tax of HKD 3,935 million, compared to a profit of HKD 54,270 million in the previous year[9] - The net loss attributable to shareholders for the year was HKD 4,041 million, a decline from a profit of HKD 53,021 million in 2022[9] - Basic and diluted loss per share was HKD 0.1 cents, a decrease from HKD 1.33 cents earnings per share in the previous year[30] - The company reported a loss attributable to owners of approximately HKD 4,040,000 for the year, compared to a profit of HKD 53,020,000 in the previous year, reflecting a decline primarily due to reduced foreign exchange gains and increased administrative expenses[93] - The group recorded a loss before tax of HKD 3,935,000 for the year ended December 31, 2023, compared to a profit of HKD 54,270,000 in 2022, marking a significant decline[113] Assets and Liabilities - Total non-current assets as of December 31, 2023, amounted to HKD 1,328,839 million, down from HKD 1,359,807 million in 2022[14] - Current assets increased to HKD 890,248 million from HKD 848,351 million, with cash and bank balances rising to HKD 46,472 million from HKD 19,741 million[14] - Current liabilities rose to HKD 1,215,939 million, compared to HKD 1,146,403 million in the previous year, leading to a net current liability position of HKD 325,691 million[14] - The total non-current liabilities amounted to HKD 166,389,000, a decrease from HKD 161,178,000 in the previous period, reflecting a reduction of approximately 3%[33] - The net assets of the company decreased to HKD 841,970,000 from HKD 895,366,000, indicating a decline of about 6%[33] - The total equity attributable to owners of the company was HKD 841,957,000, down from HKD 895,353,000, representing a decrease of approximately 6%[33] - The net current liabilities as of December 31, 2023, were approximately HKD 325,691,000, with a major shareholder confirming financial support of up to HKD 933,993,000 if needed[35] Revenue Sources - Property sales revenue was HKD 13,018,000, up from HKD 8,942,000 in the previous year, indicating a year-on-year increase of 46%[76] - Property management income rose significantly to HKD 8,339,000 from HKD 1,390,000, marking a substantial increase of 499%[76] - Rental income for the year was approximately HKD 1,650,000, down from HKD 1,966,000 in the previous year, reflecting a decrease of about 16%[63] - The rental income from the Oriental New World Plaza was approximately HKD 2,490,000 for the year ended December 31, 2023, compared to HKD 2,210,000 in 2022, representing an increase of about 12.7%[97] - The sales revenue from the Jinbao City project amounted to approximately HKD 13,020,000 for the year ended December 31, 2023, up from HKD 8,940,000 in 2022, reflecting a growth of approximately 45.5%[99] Strategic Initiatives - The company plans to focus on operational profitability and cash flow generation from future property sales[17] - The group plans to focus on mid-to-high-end commercial and tourism property development and investment in response to the evolving market conditions post-COVID[105] - The company has a development project in Guangdong Province, China, with a total construction area of approximately 430,000 square meters, indicating ongoing market expansion efforts[94] - The company acquired a 99.99% stake in a real estate development company in Tangshan, China, as part of its strategic expansion initiatives[96] - The company has established a cooperation agreement with Greenland Hong Kong Holdings Limited for the joint development of two land parcels in Shanghai[128] Financial Reporting and Compliance - The company has not adopted any new or revised Hong Kong Financial Reporting Standards that would have a significant impact on its financial performance or position[56] - The company’s financial statements are prepared in accordance with the Hong Kong Financial Reporting Standards and comply with the applicable disclosure requirements of the Hong Kong Stock Exchange[36] - The company’s auditor has issued a report on the financial statements for the year ended December 31, 2022, with no reservations or modifications noted[57] - The company has not recognized any significant impact from the adoption of new and revised Hong Kong Financial Reporting Standards on its consolidated financial statements[73] - The auditors confirmed that the financial statements for the year ended December 31, 2023, are consistent with the draft financial statements prepared by the company[157] Employee and Operational Costs - The company recorded a total of HKD 17,156,000 in employee costs, which includes director remuneration, an increase from HKD 12,207,000 in the previous year, representing a rise of 40%[82] - The financial expenses for the year included interest on lease liabilities amounting to HKD 32,000, compared to HKD 65,000 in the previous year, showing a decrease of 51%[81] Capital Commitments and Contingent Liabilities - As of December 31, 2023, the total capital commitments signed by the group amounted to approximately HKD 465,950,000, an increase from HKD 460,580,000 as of December 31, 2022[148] - The capital commitments include approximately HKD 256,570,000 for property construction and development, up from HKD 245,110,000 in the previous year[148] - The group has contingent liabilities of approximately RMB 153,590,000 (equivalent to about HKD 168,370,000) as of December 31, 2023, compared to RMB 71,480,000 (approximately HKD 80,640,000) in 2022, representing an increase of about 114.5%[108] Legal and Regulatory Matters - The company is in the process of appealing a court ruling requiring it to pay approximately RMB 18,500,000 (approximately HKD 20,300,000) to a contractor[127] - The group has made provisions of approximately RMB 14,000,000 (equivalent to about HKD 15,800,000) for claims related to construction costs from a contractor for the Honghai Bay project[100] Corporate Governance - The group has fully complied with the corporate governance code as per the listing rules during the year ended December 31, 2023[155] - The company did not purchase, sell, or redeem any of its listed securities during the year ended December 31, 2023[160]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈之內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示概不會就因本公佈全部 或任何部份內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 (cid:10213) (cid:7403) (cid:21165) (cid:12901) (cid:20319) (cid:11) (cid:26711) (cid:15597) (cid:12) (cid:13767) (cid:25870) (cid:8234) (cid:8886) GREAT CHINA HOLDINGS (HONG KONG) LIMITED （於香港註冊成立之有限公司） （股份代號：21） 截至二零二三年六月三十日止六個月之 中期業績公佈 大中華控股（香港）有限公司（「本公司」）之董事會（「董事會」）欣然公佈本公司及其 附屬公司（統稱「本集團」）截至二零二三年六月三十日止六個月之未經審核中期簡 明綜合業績，連同二零二二年同期之選定比較資料如下： 中期簡明綜合全面收益表 截至二零二三年六月三十日止六個月 截至六月三十日止六個月 二零二三年 二零二二年 附註 千港元 千港元 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈之內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示概不會就因本公佈全部 或任何部份內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 (cid:10213) (cid:7403) (cid:21165) (cid:12901) (cid:20319) (cid:11) (cid:26711) (cid:15597) (cid:12) (cid:13767) (cid:25870) (cid:8234) (cid:8886) GREAT CHINA HOLDINGS (HONG KONG) LIMITED （於香港註冊成立之有限公司） （股份代號：21） 截至二零二二年十二月三十一日止年度 全年業績公佈 大中華控股（香港）有限公司（「本公司」）之董事會（「董事會」）欣然公佈本公司及其 附屬公司（統稱「本集團」）截至二零二二年十二月三十一日止年度之綜合業績，連 同二零二一年同期之比較數字如下： 綜合全面收益表 截至二零二二年十二月三十一日止年度 二零二二年 二零二一年 附註 千港元 千港元 收益 7 12,546 10,018 銷售及服務 ...

Financial Performance - Revenue for the six months ended June 30, 2022, was HKD 6,367 million, an increase of 16.4% compared to HKD 5,469 million in the same period of 2021[3] - Gross profit for the same period was HKD 2,378 million, down from HKD 3,076 million, reflecting a decrease of 22.7%[3] - The company reported a profit before tax of HKD 36,638 million, compared to a loss of HKD 21,012 million in the previous year[3] - Net profit for the period was HKD 36,776 million, a significant recovery from a loss of HKD 21,006 million in the prior year[3] - Total comprehensive loss for the period amounted to HKD 51,036 million, compared to a total comprehensive income of HKD 1,851 million in the same period last year[3] - Basic and diluted earnings per share for the period were HKD 0.93, compared to a loss per share of HKD 0.53 in the previous year[3] - The company reported a profit attributable to owners of HKD 36.8 million for the six months ended June 30, 2022, compared to a loss of HKD 21.0 million in the same period of 2021[33] Assets and Liabilities - Non-current assets as of June 30, 2022, totaled HKD 1,408,482 million, a decrease from HKD 1,472,609 million at the end of 2021[5] - Current assets were HKD 848,591 million, down from HKD 890,089 million at the end of 2021[5] - The company's net asset value was HKD 939,987 million, a decrease from HKD 991,023 million at the end of 2021[7] - The company's total current liabilities were approximately HKD 1,144,270,000 as of June 30, 2022, down from HKD 1,190,890,000 as of December 31, 2021[81] - The asset-liability ratio was approximately 0.02% as of June 30, 2022, compared to 0.14% as of December 31, 2021[81] Cash Flow and Investments - The operating cash flow for the six months ended June 30, 2022, was a net outflow of HKD 4,591,000, compared to a net outflow of HKD 9,543,000 for the same period in 2021, representing a 52% improvement[12] - Cash and cash equivalents increased to HKD 4,917,000 at the end of June 2022, up from HKD 1,358,000 at the end of June 2021, marking a 262% increase[14] - The net cash flow from investing activities was HKD 3,974,000 for the six months ended June 30, 2022, compared to a cash outflow of HKD 937,000 in the same period of 2021[12] - The cash flow from financing activities was HKD 4,501,000 for the six months ended June 30, 2022, down from HKD 11,087,000 in the previous year, reflecting a 59% decline[14] Foreign Exchange and Financial Risks - The company experienced a foreign exchange loss of HKD 87,812 million due to the translation of overseas operations[3] - The company experienced a net foreign exchange loss of HKD 44,587,000, compared to a gain of HKD 13,585,000 in the previous year, indicating a significant adverse impact from currency fluctuations[12] Revenue Sources - Property sales revenue reached HKD 4,474 million, significantly up from HKD 2,601 million, marking a growth of 72%[25] - The total amount of rental income for the six months ended June 30, 2022, was HKD 5,260 million, compared to HKD 3,390 million in the previous year, indicating a growth of 55%[25] Management and Governance - The company did not declare an interim dividend for the six months ended June 30, 2022, consistent with the previous year[32] - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited interim results for the six months ending June 30, 2022[102] - The company has adopted and fully complied with the corporate governance code as set out in Appendix 14 of the Listing Rules during the six months ending June 30, 2022[99] - All directors confirmed compliance with the standards of the code for securities transactions by directors during the six months ending June 30, 2022[100] Employee and Management Changes - The company employed 68 staff members as of June 30, 2022, down from 80 as of December 31, 2021, with employee costs for the six months ending June 30, 2022, amounting to approximately HKD 7,810,000[86] - The total remuneration for key management personnel for the six months ended June 30, 2022, was HKD 593,000, compared to HKD 726,000 for the same period last year[58] Projects and Developments - The Jinli Bay project has a total construction area of approximately 430,000 square meters, with the first phase's main residential structure completed and expected to obtain pre-sale permits by the end of 2022[65] - The Tanghai project involves a 99.99% acquisition of Tangshan Caofeidian Real Estate Development Co., with a total acquisition cost of approximately RMB 92,490,000[68] - The Honghai Bay project has a total land area of approximately 273,534.2 square meters, with plans to develop it into a residential and tourism complex covering approximately 720,000 square meters[72] Shareholder Information - Major shareholders include Mr. Huang Shizai with a 46.52% stake and Ms. Huang Wenxi with a 16.02% stake as of June 30, 2022[89] - As of June 30, 2022, the total number of shares held by Zhi Hua Group Limited is 282,133,413, representing approximately 7.10% of the issued share capital of 3,975,233,406 shares[95] Corporate Changes - The company changed its name to Great China Holdings (Hong Kong) Limited, effective from July 7, 2022, to better reflect its main activities[76]

Financial Performance - The company recorded a revenue of approximately HKD 10,020,000 for the year ended December 31, 2021, a decrease of about 78.83% compared to HKD 47,320,000 in the previous year[14]. - The loss attributable to the owners of the company for the year was HKD 47,670,000, an improvement from a loss of HKD 82,480,000 in the previous year[14]. - The company confirmed revenue of approximately HKD 4,240,000 from the Jinbao City project for the year ended December 31, 2021, down from HKD 41,710,000 in 2020[23]. - The rental income from the Dongfang Xintiandi project was approximately HKD 3,710,000 for the year ended December 31, 2021, compared to HKD 4,040,000 in 2020[22]. - The largest five customers accounted for 60.44% of the total sales for the year ended December 31, 2021[153]. Project Developments - The sales of the residential phases one, two, and three of the Jinbao City project in Shanwei, Guangdong Province, have commenced, contributing to revenue recognition[15]. - The construction of the hotel component of the Shanwei Great China Four Points by Sheraton has been completed[15]. - The company plans to develop the Jinliwan project in two phases, with a total construction area of approximately 430,000 square meters, and expects to obtain the pre-sale permit for the first phase by the end of 2022[19]. - The Honghai Bay project is planned to be developed into a residential and tourism complex with a total construction area of approximately 720,000 square meters[25]. - The Tangshan Caofeidian project was acquired for a total consideration of approximately RMB 92,490,000, with ongoing design work and construction activities[20]. Financial Position - As of December 31, 2021, the group's bank balance and cash amounted to approximately HKD 22,270,000, an increase from HKD 19,170,000 on December 31, 2020[31]. - The total current assets of the group as of December 31, 2021, were approximately HKD 890,090,000, which includes properties held for sale, trade receivables, prepayments, deposits, and cash[31]. - The total current liabilities of the group as of December 31, 2021, were approximately HKD 1,190,880,000, including trade payables and other payables[31]. - The group's capital commitments as of December 31, 2021, amounted to approximately HKD 407,560,000, which includes HKD 173,680,000 for property construction and development[32]. - The group's contingent liabilities as of December 31, 2021, were approximately HKD 1,530,000, a decrease from HKD 2,310,000 on December 31, 2020[35]. Environmental and Social Responsibility - Total emissions for the year 2021 amounted to 1,829.64 grams, with CO2 equivalent emissions totaling 550.64 tons[46]. - Nitrogen oxide emissions were recorded at 1,679.55 grams, while sulfur dioxide and particulate emissions were 26.44 grams and 123.65 grams respectively[46]. - The company has implemented measures to reduce electricity consumption, including monthly educational activities for employees on energy saving[50]. - Water-saving measures include the use of water-saving devices and utilizing groundwater for landscaping and road cleaning[51]. - The total green area of the community reached 15,000 square meters, achieving a net greening rate of 30%[54]. Human Resources - The group employed 80 staff members as of December 31, 2021, with employee costs amounting to approximately HKD 12,430,000, down from HKD 13,200,000 in the previous year[37]. - The workforce includes 9 senior management, 14 middle management, and 57 general staff[57]. - The company adheres to local employment laws and regulations, ensuring fair compensation and benefits for employees[62]. - The company provides various training and development opportunities for employees, requiring a minimum of four hours of training annually to enhance professional knowledge[69]. - The employee compensation policy is based on performance, qualifications, and work capabilities, with annual reviews conducted[152]. Corporate Governance - The board of directors is committed to maintaining high levels of corporate governance to enhance transparency and protect shareholder interests[81]. - The company has established three committees: Audit Committee, Remuneration Committee, and Nomination Committee, to ensure effective governance and oversight[88]. - The audit committee is responsible for reviewing the independence and objectivity of external auditors and monitoring the accuracy of financial statements, particularly compliance with accounting standards and regulations[92]. - The company has adopted the corporate governance code as per the listing rules and has complied fully with its provisions[149]. - The board confirmed that there were no significant issues requiring major amendments to the internal control and risk management systems as of December 31, 2021[107]. Shareholder Information - As of December 31, 2021, the company had a total of 3,975,233,406 shares issued, with significant holdings by key executives[132]. - Mr. Huang Shijia holds 1,848,162,476 shares, representing approximately 46.52% of the company's issued share capital[132]. - Ms. Huang Wenxi holds 636,801,409 shares, which is about 16.02% of the total issued shares, including 282,133,413 shares held by a company she fully owns[132]. - The company has granted a total of 5,000,000 stock options at an exercise price of HKD 0.44, which remain unexercised as of year-end[138]. - The company has maintained a sufficient public float, complying with the listing rules requiring at least 25% of issued shares to be publicly held[154].