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].

Financial Performance - Total revenue for the six months ended June 30, 2021, was HKD 5,469 million, compared to HKD 3,791 million in 2020, representing an increase of 44.4%[2] - The company reported a loss before tax of HKD 21,012 million for the first half of 2021, a significant decline from a profit of HKD 8,461 million in the same period of 2020[2] - The net loss attributable to the owners of the company for the period was HKD 21,006 million, compared to a profit of HKD 8,100 million in 2020[2] - The total comprehensive loss for the period was HKD 27,456 million, compared to a total comprehensive income of HKD 1,851 million in the previous year[2] - The company reported a basic and diluted loss per share of HKD 0.53 for the first half of 2021, compared to earnings of HKD 0.20 per share in 2020[2] - The group reported a loss attributable to shareholders of HKD 21.0 million for the six months ended June 30, 2021, compared to a profit of HKD 8.1 million in the same period of 2020, resulting in a basic and diluted loss per share of HKD 0.53[30] Assets and Liabilities - Non-current assets as of June 30, 2021, amounted to HKD 1,442,112 million, an increase from HKD 1,426,380 million as of December 31, 2020[4] - Current assets totaled HKD 845,687 million as of June 30, 2021, compared to HKD 833,553 million at the end of 2020, reflecting a growth of 1.6%[4] - The company's total liabilities as of June 30, 2021, were HKD 456,196 million, compared to HKD 455,115 million at the end of 2020, indicating a slight increase[6] - The equity attributable to the owners of the company was HKD 985,903 million as of June 30, 2021, compared to HKD 984,052 million at the end of 2020[6] - Trade receivables increased to HKD 1,554 million as of June 30, 2021, compared to HKD 500 million at the end of 2020, with overdue amounts over 90 days rising significantly to HKD 1,395 million[41] - The company’s lease liabilities were reported at HKD 1,439 million as of December 31, 2020, with no current lease liabilities reported as of June 30, 2021[34] Cash Flow and Investments - The company reported a net cash flow from operating activities of HKD (9,543) thousand for the six months ended June 30, 2021, compared to HKD (12,852) thousand in 2020, indicating an improvement of 25.5%[11] - The company reported a net cash flow used in investing activities of HKD (937) thousand, an improvement from HKD (2,947) thousand in 2020[11] - Cash and cash equivalents increased by HKD 607 thousand, compared to a decrease of HKD (3,144) thousand in the same period of 2020[13] Revenue Breakdown - Property sales revenue amounted to HKD 2,601 thousand, while property management income was HKD 789 thousand, totaling HKD 3,390 thousand, up from HKD 2,352 thousand in 2020, representing a 44.2% increase[22] - Rental income increased to HKD 2,079 thousand for the six months ended June 30, 2021, compared to HKD 1,439 thousand in 2020, reflecting a growth of 44.5%[22] - Rental income from the Dongfang Xintiandi building amounted to approximately HKD 2.08 million for the six months ended June 30, 2021, compared to HKD 1.44 million for the same period last year[63] Employee and Operational Costs - Total employee costs, including director remuneration, decreased to HKD 8,628 million in the first half of 2021 from HKD 9,765 million in 2020, reflecting a reduction of approximately 11.6%[25] - The group employed 75 staff members as of June 30, 2021, with employee costs for the six months ended June 30, 2021, amounting to approximately HKD 8.04 million, compared to HKD 9.07 million for the same period in 2020[75] Corporate Governance and Compliance - The company has fully complied with the corporate governance code as per the listing rules during the reporting period[90] - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited interim results for the six months ending June 30, 2021[93] - There were no changes in the composition of the board of directors and senior management during the reporting period[92] - The company has adopted the standard code for securities transactions by directors and confirmed compliance during the reporting period[91] Future Plans and Projects - The company has commenced construction on the Jinliwan Resort project, which will include various single-story villas, a five-star hotel, and seaside club facilities[60] - The group plans to continue focusing on mid-to-high-end commercial and tourism property development and investment, adjusting strategies based on market conditions[69] - The Honghai Bay project encompasses a total land area of approximately 273,534.2 square meters, with plans to develop it into a residential and tourism entertainment complex with a total construction area of about 720,000 square meters[66] Shareholder Information - As of June 30, 2021, the company had a total of 3,975,233,406 shares issued[79] - Mr. Huang Shijai holds 1,848,162,476 shares, representing 46.52% of the total shares[78] - Ms. Huang Wenxi owns 353,667,996 shares and has an additional 282,133,413 shares held by a company she fully owns, totaling 636,801,409 shares or 16.02%[78] - The total shares held by Zhihua Group Limited, owned entirely by Ms. Huang Wenxi, amounts to 282,133,413 shares, representing approximately 7.10% of the total issued shares[84]

Financial Performance - For the year ended December 31, 2020, the group recorded a revenue of approximately HKD 47,320,000, an increase of about 67.39% compared to last year's revenue of approximately HKD 28,270,000[15] - The loss attributable to the owners of the company for the year was HKD 82,480,000, compared to a loss of approximately HKD 3,550,000 in the previous year[15] - The company recorded a revenue of approximately HKD 47,320,000 for the year ended December 31, 2020, representing an increase of about 67.39% compared to the previous year's revenue of approximately HKD 28,270,000[19] - The loss attributable to the owners of the company for the year ended December 31, 2020, was HKD 82,480,000, compared to a loss of approximately HKD 3,550,000 in the previous year, primarily due to foreign exchange losses from financial liabilities[19] - The company reported a net loss of HKD 82,479,000 for the year, significantly higher than the loss of HKD 3,549,000 in 2019, reflecting a deterioration in financial performance[198] - Other comprehensive income for the year was HKD 124,548,000, a recovery from a loss of HKD 32,233,000 in 2019, primarily due to foreign exchange differences[198] - Total revenue for the year ended December 31, 2020, was HKD 47,316,000, an increase from HKD 28,270,000 in 2019, representing a growth of 67.4%[198] Project Developments - The sales of the residential phases one, two, and three of the Jinbao City project in Shanwei, Guangdong Province, have commenced with strong market response[16] - The construction of the hotel main structure for the commercial part of the Jinbao City project, the Shanwei Great China Four Points by Sheraton Hotel, has been completed[16] - The company has commenced construction on the Jinliwan Resort project, which will include various types of villas, a five-star hotel, and seaside club facilities[20] - The sales proceeds from the Jinbao City project amounted to approximately HKD 41,710,000 for the year ended December 31, 2020, compared to HKD 11,280,000 in 2019[24] - The company has recorded a contract liability of approximately HKD 48,570,000 for pre-sales of the Jinbao City project as of December 31, 2020[24] - The Honghaiwan project is planned to be developed into a residential and tourism complex with a total construction area of approximately 720,000 square meters[26] Financial Position - As of December 31, 2020, the company's cash and bank balances were approximately HKD 19.17 million, an increase from HKD 15.79 million on December 31, 2019[34] - The total current assets amounted to approximately HKD 833.55 million, while total current liabilities were approximately HKD 1,099.68 million as of December 31, 2020[34] - The company's debt-to-equity ratio was approximately 0.15% as of December 31, 2020, down from 0.39% on December 31, 2019[34] - The company has unprovided capital commitments totaling approximately HKD 430.46 million, including HKD 202.81 million for property construction and development[35] - The company's contingent liabilities were approximately HKD 2.31 million as of December 31, 2020, down from HKD 3.03 million on December 31, 2019[37] - The total assets as of December 31, 2020, amounted to HKD 2,259,933,000, up from HKD 2,108,768,000 in 2019, showing an increase of 7.2%[199] - The company's non-current assets totaled HKD 1,426,380,000, an increase from HKD 1,329,260,000 in 2019, reflecting a growth of 7.3%[199] - Current liabilities increased to HKD 1,099,681,000 from HKD 998,798,000 in 2019, representing a rise of 10.1%[199] - The net asset value as of December 31, 2020, was HKD 984,065,000, compared to HKD 941,996,000 in 2019, indicating a growth of 4.4%[199] - The company’s cash and bank balances increased to HKD 19,174,000 from HKD 15,787,000 in 2019, reflecting a growth of 21.1%[199] Employee and Organizational Structure - The company employed 86 staff members as of December 31, 2020, with related employee costs amounting to approximately HKD 13.2 million, compared to HKD 16.19 million in 2019[40] - The total employee cost for the group was approximately HKD 13,200,000 as of December 31, 2020, down from approximately HKD 16,190,000 in 2019, reflecting a reduction in workforce from 117 to 86 employees[163] - Employees are required to undergo a minimum of four hours of training annually to enhance their professional knowledge and skills[75] - The company conducts regular reviews of employee compensation based on market conditions and individual performance to retain talent[68] - The company emphasizes a commitment to creating a fair and diverse work environment, adhering to anti-discrimination policies across all business units[71] - In the fiscal year 2020, the company organized a series of employee activities to enhance team spirit and corporate culture, including monthly birthday parties and holiday gatherings[72] Corporate Governance - The company adheres to the corporate governance code as per the Hong Kong Stock Exchange's listing rules, ensuring high levels of transparency and accountability[87] - The board of directors held a total of four meetings during the fiscal year ending December 31, 2020, with attendance rates detailed on page 23 of the annual report[92] - The remuneration committee is responsible for reviewing and determining the remuneration policies for directors and senior management, ensuring a formal and transparent process[95] - The group has established three committees under the board: the audit committee, the remuneration committee, and the nomination committee, which are provided with sufficient resources to fulfill their responsibilities[94] - The company has implemented a whistleblowing mechanism to protect whistleblowers from unfair dismissal or harm, promoting a culture of integrity[84] - The board includes two executive directors and three independent non-executive directors, ensuring a balanced and diverse structure for effective decision-making[90] - The board is responsible for determining the overall strategy and corporate development direction, ensuring proper oversight of business operations[105] Environmental and Social Responsibility - Total emissions for the fiscal year 2020 amounted to 3,321.5 tons of CO2 equivalent, with specific contributions from electricity consumption (222.60 tons), waste paper treatment (1.24 tons), and wastewater treatment (74.20 tons) [51] - The company implemented measures to reduce electricity consumption, including monthly educational activities for employees and replacing traditional bulbs with LED energy-saving bulbs [55] - The total green area within the community reached 15,000 square meters, achieving a net greening rate of 30% [59] - The company strictly adheres to environmental laws, including the Environmental Protection Law and the Air Pollution Prevention and Control Law of China [51] - The company has established a materials management system to limit material selection and ensure efficient use of resources [56] - The company utilizes underground water or spring water for landscaping and road cleaning, contributing to water conservation efforts [56] - The company has adopted energy-efficient construction materials to minimize waste generation and energy consumption [52] - The group donated RMB 480,000 to the Shenzhen Huilai Chamber of Commerce in 2020, an increase from RMB 440,000 in 2019, to support community development[85] Risk Management and Compliance - The company has not hedged against currency risks, primarily dealing in Renminbi and Hong Kong dollars[36] - The company is responsible for preparing financial statements that are true and fair in accordance with applicable financial reporting standards[189] - 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[98] - The company has not experienced any changes in auditors over the past three years, ensuring consistency in financial reporting[171] - The company has not purchased, sold, or redeemed any of its listed securities during the fiscal year ending December 31, 2020[131] - The group faced potential risks and uncertainties as described in the financial statements[126] Shareholder Information - The board is committed to maintaining ongoing dialogue with shareholders, with members attending annual general meetings to address shareholder inquiries[120] - The company maintained sufficient public float, complying with the requirement of at least 25% of issued shares being held by the public[168] - As of December 31, 2020, the company had a total of 3,975,233,406 issued shares, with significant holdings by directors and key executives[140] - Mr. Huang Shijia holds 1,848,162,476 shares, representing approximately 46.52% of the company's issued share capital[140] - Ms. Huang Wenxi holds 636,801,409 shares, which is about 16.02% of the company's issued share capital[140] - The company has a share option plan that allows directors to purchase a total of 5,000,000 shares at an exercise price of HKD 0.44[146] - The company has adopted the standard code of conduct for securities transactions by directors, confirming compliance for the year ended December 31, 2020[158]

Financial Performance - Revenue for the six months ended June 30, 2020, was HKD 3,791 million, a decrease of 70.3% compared to HKD 12,755 million in 2019[3] - Gross profit for the same period was HKD 2,085 million, down 58.0% from HKD 4,962 million in 2019[3] - The company reported a profit of HKD 8,100 million for the period, compared to a loss of HKD 3,575 million in 2019[3] - Total comprehensive loss for the period was HKD 27,456 million, compared to a loss of HKD 11,273 million in 2019[3] - Basic and diluted earnings per share for the period were HKD 0.20, compared to a loss of HKD 0.11 per share in 2019[3] - The group's profit attributable to owners for the six months ended June 30, 2020, was HKD 8.10 million, compared to a loss of HKD 3.58 million in the same period of 2019[32] - The profit attributable to the company's owners for the six months ended June 30, 2020, was approximately HKD 8.10 million, compared to a loss of approximately HKD 3.58 million in the same period last year, mainly due to an increase in foreign exchange gains from the company's financial liabilities[62] Assets and Liabilities - Non-current assets as of June 30, 2020, totaled HKD 1,308,399 million, a slight decrease from HKD 1,329,260 million at the end of 2019[5] - Current assets amounted to HKD 774,513 million, down from HKD 779,508 million at the end of 2019[5] - Current liabilities increased to HKD 1,003,597 million from HKD 998,798 million at the end of 2019[5] - The net asset value was HKD 914,540 million as of June 30, 2020, compared to HKD 941,996 million at the end of 2019[7] - The total current assets of the company as of June 30, 2020, were approximately HKD 774.5 million, while total current liabilities were approximately HKD 1,003.6 million[75] - The company's asset-liability ratio was 0.56% as of June 30, 2020, compared to 0.39% as of December 31, 2019[75] Cash Flow and Financial Position - The operating cash flow for the six months ended June 30, 2020, was a net outflow of HKD 12,852,000, compared to an outflow of HKD 23,123,000 in 2019, representing a 44.5% improvement[13] - Cash and cash equivalents at the end of the period were HKD 1,497,000, down from HKD 3,202,000, indicating a decrease of 53.2%[15] - Cash flow from financing activities was HKD 12,655,000, down from HKD 25,785,000, a decline of 51.0%[15] - The company reported a loss before tax of HKD 8,461,000, compared to a loss of HKD 3,962,000 in the previous year[13] - The net cash used in investing activities was HKD 2,947,000, compared to HKD 3,234,000 in 2019, showing a decrease of 8.9%[15] - The company had a total cash and bank balance of HKD 13,257,000, up from HKD 11,013,000, reflecting an increase of 20.3%[15] Property Development and Investment - The company continues to focus on expanding its property development and investment portfolio despite the challenging market conditions[3] - Property sales revenue decreased significantly to HKD 1,584,000 from HKD 10,541,000, reflecting a decline of 85%[25] - The company has a capital commitment of HKD 392.16 million for construction and development properties as of June 30, 2020, compared to HKD 367.52 million as of December 31, 2019[51] - The company plans to develop the Honghai Bay project into a tourism and entertainment complex with a total construction area of approximately 720,000 square meters[69] - The company has commenced construction on the Jinliwan Resort project located in Guangdong Province, China, which will include various single-story villas, a five-star hotel, and seaside club facilities[63] Shareholder Information - The total number of shares issued was 3,975,233,406 as of June 30, 2020, with significant shareholders holding substantial stakes, including Mr. Huang with 46.52% and Ms. Huang with 16.02%[94] - The company disclosed that the beneficial ownership of Mr. Huang included 1,848,162,476 shares and 1,000,000 share options, totaling 1,849,162,476 shares[95] - The company reported that the beneficial ownership of Ms. Huang included 353,667,996 shares and 282,133,413 shares held by a company she fully owns, totaling 636,801,409 shares[95] - The company’s major shareholder, Zhi Hua Group Limited, held 282,133,413 shares, representing approximately 7.10% of the total issued shares[100] Corporate Governance - The company has adopted and fully complied with the corporate governance code as per the listing rules during the six months ended June 30, 2020[104] - The board of directors confirmed compliance with the standard code of conduct for securities trading during the six months ended June 30, 2020[105] - There were no changes in the composition of the board of directors and senior management during the six months ended June 30, 2020[106] - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited interim results for the six months ended June 30, 2020[108]

Financial Performance - For the year ended December 31, 2019, the group recorded revenue of approximately HKD 28,270,000, a decrease of about 67.6% compared to last year's revenue of approximately HKD 87,230,000[14] - The attributable loss to the owners of the company for the year was HKD 3,550,000, compared to a profit of approximately HKD 41,710,000 in the previous year[14] - The decline in revenue was primarily due to a decrease in the area of property sales delivered[14] - The financial position turned from profit to loss mainly due to reduced revenue from property sales and decreased foreign exchange gains from the group's financial liabilities[14] - The group recorded a revenue of approximately HKD 28,270,000 for the year ended December 31, 2019, a decrease of about 67.6% compared to the previous year's revenue of approximately HKD 87,230,000[18] - The loss attributable to the owners of the company for the year ended December 31, 2019, was HKD 3,550,000, compared to a profit of approximately HKD 41,710,000 in the previous year[18] - The total comprehensive loss for the year was HKD 35,782,000, compared to HKD 72,051,000 in 2018, showing an improvement of approximately 50.2%[197] - The net loss for the year was HKD 3,549,000, compared to a profit of HKD 41,712,000 in 2018, indicating a significant turnaround in performance[197] Revenue Sources - The sales proceeds from the Jinbao City project amounted to approximately HKD 11,280,000, which was recognized as revenue for the year ended December 31, 2019[23] - The group has received approximately HKD 65,950,000 as contract liabilities from pre-sales of the Jinbao City project as of December 31, 2019[23] Project Development - The company plans to develop the Honghai Bay project into a tourism and entertainment complex with a total construction area of approximately 720,000 square meters[25] - The group has commenced construction on the Jinliwan Resort project, which is expected to include various types of villas, a five-star hotel, and seaside club facilities[19] - The group is in the preliminary planning and design phase for an ecological leisure area or resort in the Tangshan Caofeidian project[20] Financial Position - As of December 31, 2019, the company's cash and bank balances were approximately HKD 15.79 million, an increase from HKD 12.8 million on December 31, 2018[31] - The total current assets amounted to approximately HKD 779.51 million, while total current liabilities were about HKD 998.8 million, resulting in a debt-to-equity ratio of approximately 0.39%[31] - The company has capital commitments totaling approximately HKD 580.96 million, including HKD 367.52 million for property construction and development[33] - The company has not established agreements to hedge against currency risks, which may impact operational performance due to fluctuations in the HKD and RMB exchange rates[34] Employee Information - The company employed 117 staff members as of December 31, 2019, with total employee costs of approximately HKD 16.19 million, down from HKD 18.7 million in 2018[37] - The company has established a comprehensive mechanism to ensure a safe and healthy work environment, adhering to multiple legal regulations in Hong Kong and China[68] - The company provides various training and development opportunities for employees, requiring a minimum of four hours of training annually to enhance professional knowledge[70] Environmental Sustainability - The company is committed to environmental sustainability, adhering to local environmental laws and implementing energy-saving measures in its operations[43] - Total greenhouse gas emissions for 2019 amounted to 4,752.89 grams, with nitrogen oxides at 3,741.21 grams, sulfur dioxide at 736.22 grams, and particulate matter at 275.46 grams[46] - The total green area of the community reached 15,000 square meters, achieving a net greening rate of 30%[54] Corporate Governance - The board of directors is committed to maintaining high levels of corporate governance to enhance transparency and protect shareholder interests[82] - The company has established three committees: Audit Committee, Remuneration Committee, and Nomination Committee to fulfill its governance responsibilities[89] - The company has a strict anti-corruption policy and requires all employees to adhere to principles of integrity and self-discipline[79] Shareholder Information - The board confirmed that the internal control and risk management systems were effective during the review year[108] - The company has established a website to provide comprehensive information about its main business and financial data[114] - The board believes that regular and timely communication with shareholders helps them better understand the company's operations[114] Audit and Compliance - The independent auditor issued an unqualified opinion on the group's financial statements for the year ended December 31, 2019[166] - The audit committee, composed of three independent non-executive directors, reviewed the company's financial performance for the year ended December 31, 2019[164] - The company is responsible for preparing financial statements that are true and fair in accordance with the Hong Kong Financial Reporting Standards[188]