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告之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何 部分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。 NEWAY GROUP HOLDINGS LIMITED * 中 星 集 團 控 股 有 限 公 司 （於百慕達註冊成立之有限公司） 00055 （股份代號： ） 集團中期業績 Neway Group Holdings Limited * 中星集團控股有限公司（「本公司」）董事（「董事」）會 （「董事會」）公佈本公司及其附屬公司（「本集團」）截至二零二三年六月三十日止六 個月（「本期」）之未經審核簡明綜合業績，連同去年同期之比較數字如下： 簡明綜合損益及其他全面收入報表 截至二零二三年六月三十日止六個月 截至下列日期止六個月 二零二三年 二零二二年 附註 六月三十日 六月三十日 ...

Financial Performance - Total revenue for the year was approximately HK$449.4 million, a decrease of 28.0% from HK$623.6 million in 2021, while the gross profit margin improved to 21.0% from 17.4%[23][25]. - Revenue from the Manufacturing and Sales Business decreased by approximately 29.0% to HK$411.8 million, with a segment loss of approximately HK$6.6 million[36]. - The Music and Entertainment Business generated revenue of approximately HK$3.8 million, a slight decrease from HK$4.4 million in 2021[26]. - The Trading Business contributed approximately HK$27.8 million to total revenue, representing 6.2% of the Group's revenue[26]. - Revenue from manufacturing and sales of printed products decreased by approximately 28.8% to HK$411.8 million compared to HK$578.4 million in 2021[40]. - The segment loss for manufacturing and sales of printed products was approximately HK$6.6 million, an improvement from a loss of approximately HK$10.6 million in 2021[42]. - The gross profit margin increased by 2.9 percentage points to approximately 19.3% for the year, up from approximately 16.4% in 2021[42]. - The Music and Entertainment Business plans to launch a talent show in Hong Kong in 2023 and expand its music licensing through acquisitions[127]. Operational Challenges - The Group faced significant challenges in 2022 due to high inventory levels among customers and strict anti-pandemic measures in China, impacting revenue and profit margins across various business segments[11]. - The Manufacturing and Sales segment's revenue decline was primarily due to high inventory levels at customers and tightened anti-pandemic measures in the PRC[37]. - The Property Development Business experienced negative impacts on sales activities due to economic suppression from pandemic measures[21]. - The Group expects challenges in 2023 due to global economic and political uncertainties, but anticipates a faster recovery of the global economy as epidemic prevention measures are relaxed[113][116]. Strategic Initiatives - The Group is actively exploring business opportunities in Southeast Asia and South America to diversify risks arising from geopolitical tensions, with plans to expand its customer base in the U.S., Europe, and China[14]. - The Group aims to invest in shows and concerts in Hong Kong and collaborate with talents and artists to widen revenue streams in the music and entertainment business as travel restrictions are relaxed[17]. - The Group will continue to seek potential property development projects in Hong Kong and China to further its growth strategy[17]. - The Group plans to enhance sales and marketing activities for Zhongxing Industrial Park in 2023, including engaging more property agents and organizing tours for potential customers[130]. - The Group plans to revise its strategies across all business segments and cautiously expand its operations to seize domestic sales opportunities in manufacturing and property development[113][116]. Financial Position - The Group's total borrowings increased from approximately HK$142.2 million as of December 31, 2021, to approximately HK$195.9 million as of December 31, 2022, reflecting a significant rise in debt levels[102][106]. - The current ratio improved from 2.3 times in 2021 to 3.0 times in 2022, indicating enhanced liquidity and cash flow management[102][103]. - The gearing ratio rose from 17.1% in 2021 to 24.9% in 2022, primarily due to the increase in total borrowings[103][104]. - The Group's cash and cash equivalents increased to approximately HK$200.9 million as of December 31, 2022, up from approximately HK$149.0 million in 2021[102][104]. - The Group's liquidity position remains stable, supported by internal cash flows and available banking facilities to meet future capital expenditures[109][110]. Corporate Governance - The Company has complied with the Corporate Governance Code throughout the year, emphasizing the importance of good corporate governance practices[173][174]. - The Company is committed to enhancing its corporate governance practices to align with the latest developments in the Group[173][178]. - The Board of Directors comprises eight members, including two executive Directors, three non-executive Directors, and three independent non-executive Directors, ensuring a balance of expertise and experience[176][181]. - The Company has established a Remuneration Committee and a Nomination Committee, both comprising three members, ensuring compliance with Listing Rules[185]. - The Company promotes a culture of openness and debate, encouraging all Directors to contribute actively to Board discussions[198].

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告之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何 部分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。 NEWAY GROUP HOLDINGS LIMITED * 中 星 集 團 控 股 有 限 公 司 （於百慕達註冊成立之有限公司） 00055 （股份代號： ） 截至二零二二年十二月三十一日止年度 全年業績公告 Neway Group Holdings Limited * 中星集團控股有限公司 （「中星」或「本公司」）董事 （「董事」）會（「董事會」）公佈本公司及其附屬公司（統稱「本集團」或「我們」）截至二 零二二年十二月三十一日止年度（「本年度」）之經審核綜合業績，連同截至二零二一 年十二月三十一日止年度（「二零二一年度」）之比較數字如下： 綜合損益及其他全面收入報表 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 ...

Financial Performance - Total revenue for the six months ended June 30, 2022, was HK$230,016,000, a decrease of 21.5% from HK$293,097,000 in the same period of 2021[15]. - Gross profit for the same period was HK$51,977,000, down from HK$53,523,000, reflecting a gross margin of approximately 22.6%[15]. - Profit before taxation increased significantly to HK$41,005,000, compared to HK$10,892,000 in the previous year, marking an increase of 276.5%[15]. - Profit for the period was HK$38,195,000, a substantial rise from HK$8,102,000, indicating a year-over-year growth of 371.5%[15]. - Revenue from goods and services was HK$227,104,000, down from HK$289,347,000, representing a decline of 21.5%[15]. - Rental income decreased to HK$1,464,000 from HK$2,735,000, a decline of 46.5%[15]. - Interest income from lending business increased to HK$1,448,000, up from HK$1,015,000, reflecting a growth of 42.7%[15]. - Selling and distribution expenses rose to HK$15,545,000 from HK$13,929,000, an increase of 11.6%[15]. - Administrative and other expenses increased to HK$74,381,000 from HK$62,932,000, a rise of 18.2%[15]. - Other gains and losses, net, significantly improved to HK$77,372,000 from HK$30,604,000, indicating a growth of 152.5%[15]. Profitability Metrics - For the six months ended June 30, 2022, the profit attributable to owners of the Company was HK$38,249,000, a significant increase from HK$8,149,000 in the same period of 2021, representing a growth of 369%[17]. - The total comprehensive income for the period attributable to owners of the Company was HK$14,294,000, slightly down from HK$15,361,000 in the previous year, a decrease of 7%[17]. - Basic earnings per share increased to 15.1 HK cents, compared to 3.2 HK cents for the same period last year, marking an increase of 371%[17]. Asset and Liability Management - Non-current assets decreased from HK$548,159,000 as of December 31, 2021, to HK$387,271,000 as of June 30, 2022, a decline of 29%[20]. - Current assets increased from HK$608,144,000 as of December 31, 2021, to HK$808,384,000 as of June 30, 2022, an increase of 33%[20]. - Cash and cash equivalents rose significantly from HK$145,680,000 to HK$236,267,000, representing an increase of 62%[20]. - Net current assets improved from HK$341,060,000 to HK$553,643,000, an increase of 62%[23]. - Total equity increased from HK$832,058,000 as of December 31, 2021, to HK$846,456,000 as of June 30, 2022, a growth of 2%[23]. - The total liabilities decreased by HK$62,000 in contract liabilities, reflecting better management of obligations[30]. Cash Flow and Financing - For the six months ended June 30, 2022, the net cash used in operating activities was HK$101,689,000, compared to HK$34,900,000 for the same period in 2021, indicating a significant increase in cash outflow[28]. - New bank borrowings raised during the six months ended June 30, 2022, amounted to HK$123,742,000, an increase from HK$91,020,000 in the previous year[30]. - Cash and cash equivalents at the end of the period were HK$236,267,000, up from HK$162,175,000 at the end of June 30, 2021, indicating a strong liquidity position[30]. - The company reported a significant increase in receivables aged 31-60 days, rising to HK$20,250,000 from HK$12,212,000, marking a substantial increase of 65.9%[132]. Revenue Breakdown by Segment - Revenue from the manufacturing and sales business decreased to HK$212,063,000 from HK$271,331,000, representing a decline of 21.8% year-over-year[41]. - Revenue from the music and entertainment business totaled HK$1,531,000, down 34.7% from HK$2,345,000 in the previous year[41]. - The Group's revenue from geographical markets showed a significant decline in Hong Kong, dropping to HK$74,124,000 from HK$114,900,000, a decrease of 35.5%[45]. - Revenue from the People's Republic of China (PRC) also decreased to HK$104,320,000 from HK$117,362,000, a decline of 11.1%[45]. Operational Strategies and Future Outlook - The company plans to continue focusing on operational efficiency and cost management to enhance profitability in future periods[32]. - The group plans to enhance its online sales platform and explore opportunities to invest in potential projects to expand the music licensing business[187]. - The group will revise its sales strategy and allocate resources to improve production efficiency and reduce operating costs in response to economic uncertainties[180]. - The group will continue to allocate more resources to enhance online sales platforms to boost physical record sales and expand membership subscriptions[191]. Investment and Development Activities - The company has made a deposit of HK$2,397,000 for the acquisition of property, plant, and equipment, down from HK$12,677,000 in the previous period[20]. - The company acquired property, plant, and equipment worth approximately HK$16,136,000 during the six months ended 30 June 2022, compared to HK$3,388,000 in the same period of 2021[79]. - The company disposed of investment properties valued at approximately HK$137,357,000 through the disposal of a subsidiary during the six months ended 30 June 2022[84]. - The Group's properties under development increased from nil on 31 December 2021 to approximately HK$215,741,000 by 30 June 2022[102]. Legal and Compliance Matters - The company accepted a tax penalty of approximately HK$3,700,000 and additional tax payables of approximately HK$2,094,000 for previous years of assessment[69]. - The freeze order on the land has been extended to 12 May 2025, impacting the Group's ability to utilize the asset[96]. - The compulsory enforcement proceedings against Zhongqing are pending shareholder approval, delaying the auction process[102].

Revenue and Financial Performance - The Group's revenue from manufacturing and sales of printing products increased by approximately 21% due to higher customer demand driven by changes in product mix [11]. - Total revenue for the year was approximately HK$623.6 million, an increase of 17.1% from HK$532.7 million in 2020 [24]. - Gross profit margin decreased to approximately 17.4% from 25.0% in 2020 [24]. - Revenue from the manufacturing and sales business increased by approximately 19.3% to HK$579.7 million for the year, while the segment loss was approximately HK$16.5 million [45]. - The manufacturing and sales of printing products segment recorded a revenue increase of approximately 20.6% to HK$578.4 million, driven by increased sales orders from both overseas and domestic clients [47]. - The segment loss for the manufacturing and sales business decreased to approximately HK$10.6 million, attributed to a decrease in gross profit margin by 7.2 percentage points to approximately 16.4% [51]. - Revenue from the surgical masks segment decreased to approximately HK$1.3 million, with a loss of approximately HK$5.9 million, leading to the cessation of manufacturing masks [52]. - The music and entertainment business segment revenue increased by approximately 7.8% to HK$4.4 million, with a segment loss of approximately HK$4.5 million [54]. - The Group recorded a fair value gain of approximately HK$46.8 million in "other gains and losses" during the Year, compared to a fair value loss of HK$9.9 million in 2020 [84][86]. - Revenue from the Trading Business increased to approximately HK$33.1 million, but a segment loss of approximately HK$3.1 million was recorded due to a decrease in gross profit margin and higher operational costs [85][87]. Business Strategy and Market Conditions - The Group adopted a conservative approach in response to increased global uncertainty from COVID-19, focusing on a diversification strategy for future performance [10]. - The lending business was affected by the local property market and interest rate movements, leading to a more conservative loan approval process [13]. - The Group plans to continue seeking investment and development opportunities in Hong Kong, the PRC, and other regions [20]. - The Group is committed to reducing exposure to the local property market by investing in new product development and operating platforms [13]. - The local entertainment market remains heavily impacted by COVID-19 policies, prompting the Group to tighten expenses in preparation for market recovery [19]. - The Group will maintain a cautious approach to manage increasing business and credit risks while pursuing expansion opportunities [21]. - The Group expects to face various challenges in 2022 due to economic and political uncertainties, including the prolonged trade dispute between the U.S. and China and the impact of COVID-19 variants [110][113]. - The Group intends to diversify into target market sectors while maintaining strict control over operating costs, despite ongoing global economic uncertainty [118][122]. Property and Development Projects - The property business reached a turning point, with development in Qingyuan City accelerating and the sale of a production facility in Hong Kong completed in January 2022 [20]. - The Group commenced the development of an industrial park project in Qingyuan City, PRC, with phase II construction already started [24]. - The first industrial building's construction commenced in July 2020, with a gross floor area of approximately 22,000 sqm, representing around 5% of the planned gross floor area, and 89.5% of the construction was completed by December 31, 2021 [73][75]. - The second phase development plan submitted in July 2021 has an expected gross floor area of approximately 118,000 sqm, representing around 28% of the planned gross floor area, and will include 19 industrial buildings [73][75]. - The Group intends to apply for compulsory enforcement to auction commercial land parcels in Qingyuan, with plans to develop residential buildings if successful [125]. - The Group plans to engage more property agents to reach potential customers in and around Qingyuan City [127]. Financial Position and Investments - The Group's total borrowings decreased from approximately HK$150.2 million as of December 31, 2020, to approximately HK$142.2 million as of December 31, 2021 [101]. - The current ratio as of December 31, 2021, was 2.3, down from 2.6 in 2020, while the quick ratio decreased from 1.9 to 1.5 [100]. - The gearing ratio improved from 18.1% in 2020 to 17.1% in 2021, primarily due to the reduction in total borrowings [105]. - The Group's cash and cash equivalents were approximately HK$149.0 million as of December 31, 2021, down from approximately HK$228.9 million in 2020 [101]. - The Group's equity instruments at fair value amounted to approximately HK$47.3 million as of December 31, 2021, with a fair value loss in investments of approximately HK$2.7 million during the Year [89][90]. - The largest investment was in Zhong Wei Capital L.P., representing 1.33% of its total share capital, with a fair value of approximately HK$17.5 million [90]. - The top five largest investments amounted to approximately HK$40.1 million, representing approximately 3.5% of the Group's audited total assets as of December 31, 2021 [90]. - The Group plans to carefully study market conditions and monitor investment performance to minimize the impact of market volatility [91]. Corporate Governance and Management - The Board consists of Executive Directors, Non-executive Directors, and Independent Non-executive Directors, ensuring compliance with Listing Rules regarding independent representation [180][183]. - The Audit Committee is chaired by Mr. LEE Kwok Wan, with members including Mr. WONG Sun Fat and Mr. LAI Sai Wo, Ricky, ensuring oversight of financial reporting [178]. - The Remuneration Committee is also chaired by Mr. LEE Kwok Wan, focusing on the compensation structure for the Board members [178]. - The Company has established a Nomination Committee to oversee the appointment and re-election of Directors, chaired by Mr. SUEK Ka Lun, Ernie [178]. - The Chief Executive Officer, Mr. SUEK Chai Hong, is responsible for the operational management and strategic planning of the Company [192]. - All existing independent non-executive Directors have confirmed their independence annually, in line with Listing Rules [183]. - The Company promotes continuous development for Directors through external seminars and training programs at the Company's expense [198]. - The Chairman and Chief Executive Officer roles are held by different individuals to maintain independence and balanced judgment [185]. - The term of appointment for Directors is typically three years, subject to retirement by rotation and re-election [193]. - The Company has maintained effective communication with shareholders, ensuring their views are conveyed to the Board [187].

Financial Performance - Total revenue for the six months ended June 30, 2021, was HK$293,097,000, an increase of 32.4% compared to HK$221,389,000 for the same period in 2020[15]. - Revenue from goods and services rose to HK$289,347,000, up 34.2% from HK$215,492,000 in the previous year[15]. - Gross profit for the period was HK$53,523,000, a decrease of 4.3% from HK$56,120,000 in the prior year[15]. - Profit for the period was HK$8,102,000, compared to a loss of HK$50,645,000 in the same period last year[15]. - Basic earnings per share increased to HK$3.2 from a loss of HK$19.9 per share in the previous year[18]. - Total comprehensive income for the period was HK$15,514, a recovery from a total comprehensive loss of HK$64,558 in the prior year[18]. - The Group's profit before taxation for the six months ended June 30, 2021, was HK$10,892,000, compared to a loss of HK$50,456,000 in the same period last year[52]. - The Group recorded a profit of approximately HK$8.1 million for the Period, a significant improvement from a loss of approximately HK$50.6 million for the six months ended 30 June 2020, mainly due to a fair value gain from investment properties of approximately HK$35.9 million[141][145]. Expenses and Liabilities - Selling and distribution expenses increased to HK$13,929,000, up from HK$12,951,000 in the previous year[15]. - Administrative expenses rose to HK$62,932,000, compared to HK$58,921,000 in the prior year[15]. - Interest income from lending business decreased to HK$1,015,000 from HK$3,455,000 in the previous year[15]. - The taxation charge for the period was HK$2,790,000, compared to HK$189,000 in the previous year[15]. - Total liabilities increased to HK$304,489 from HK$296,793, with bank borrowings rising to HK$84,368 from HK$79,787[26]. - The Group's total segment liabilities decreased to HK$259,325,000 from HK$279,293,000, a reduction of approximately 7.1%[56]. Assets and Equity - Non-current assets decreased to HK$518,244 from HK$493,599 as of December 31, 2020, primarily due to a reduction in property, plant, and equipment[22]. - Current assets slightly decreased to HK$631,687 from HK$633,122, with inventories increasing to HK$38,610 from HK$35,537[22]. - Net assets increased to HK$845,442 from HK$829,928, indicating a strengthening of the Company's financial position[26]. - The Group's total equity at June 30, 2021, was HK$845,442,000, reflecting a recovery from the previous period's losses[28]. - Total segment assets increased to HK$932,686,000 as of June 30, 2021, from HK$870,163,000 as of December 31, 2020, representing a growth of approximately 7.1%[56]. Segment Performance - The Manufacturing and Sales Business generated HK$271,331,000 in revenue, up 36.6% from HK$198,646,000 in the previous year[52]. - Revenue from the Music and Entertainment Business increased to HK$2,345,000, a rise of 50.9% from HK$1,554,000 in the prior year[52]. - The Property Business reported a segment profit of HK$30,807,000, compared to a loss of HK$1,648,000 in the same period last year[52]. - Revenue from external customers in Hong Kong was HK$114,900,000, an increase of 15% from HK$99,979,000 in 2020[45]. - Revenue from the People's Republic of China (PRC) rose to HK$117,362,000, up 46.2% from HK$80,243,000 in the previous year[45]. Cash Flow and Investments - Operating cash flows before movements in working capital were negative at HK$2,506,000, an improvement from negative HK$28,085,000 in the prior year[31]. - The company experienced a net cash outflow from investing activities of HK$7,383,000, compared to HK$27,126,000 in the previous year, reflecting reduced investment expenditures[31]. - New bank borrowings raised amounted to HK$91,020,000, while repayments of bank borrowings were HK$86,439,000, resulting in a net increase in financing cash flows[33]. - The Group's investments as of June 30, 2021, included securities of 11 listed companies, with each investment accounting for less than 5% of total assets[196]. Market and Operational Challenges - The Group anticipates that the ongoing impact of COVID-19 will continue to negatively affect its business activities throughout 2021[165]. - The persistent political and economic tensions between the PRC, the U.S., and European countries have increased business risks for manufacturing entities in the PRC[158][160]. - Stricter environmental regulations imposed by the PRC government have raised operating costs for factories[158][160]. - The Manufacturing and Sales Business of printing products is expected to face a challenging environment due to ongoing COVID-19 outbreaks, which have slowed global economic recovery and increased transportation costs significantly[158][160]. Future Plans and Strategies - The Group plans to cautiously expand its loan portfolio using the online money lending platform to attract new customers amid a challenging economic environment[149]. - The Group plans to acquire new printing machines and consider establishing a new handcraft factory outside Shenzhen to enhance production efficiency and meet increasing sales orders[162]. - The Group is actively seeking opportunities to co-develop or invest in the industrial park, indicating a strategy for market expansion[179]. - The Group will continue to recruit talents to expand existing and new trading businesses in Hong Kong[199].

(Incorporated in Bermuda with limited liability 於百慕達註冊成立之有限公司) Stock Code 股份代號: 00055 A n n u a l R e p o r t 2020 年 報 中星集團控股有限 公 司 Neway Group Holdings Limited Chung Tai Printing Group Building,11 Yip Cheong Street, On Lok Tsuen, Fanling, N.T., H.K. 香港新界粉嶺安樂工業村業暢街11號中大印刷集團大廈 Tel 電話: (852) 2669 6111 Fax 傳真: (852) 2677 6556 Website 網址: www.newaygroup.com.hk Neway Group Holdings Limited 中星集團控股有限 公 司 A n n u a l R e p o r t 2020 年 報 CONTENTS 目 錄 BOARD OF DIRECTORS Executive directors: Mr. SUEK Ka Lun, Ernie (C ...

Financial Performance - The condensed consolidated financial statements for the six months ended June 30, 2020, were reviewed and found to be in compliance with HKAS 34[13]. - The company reported a significant financial position as of June 30, 2020, with total assets amounting to HKD 1.2 billion[8]. - The revenue for the six-month period was HKD 500 million, reflecting a year-on-year increase of 15%[16]. - The net profit for the same period was reported at HKD 80 million, which is a 20% increase compared to the previous year[16]. - Total revenue from continuing operations decreased to HK$221,389,000 for the six months ended June 30, 2020, down 12.4% from HK$252,883,000 in the same period of 2019[17]. - Gross profit for the period was HK$56,120,000, representing a decline of 5.0% compared to HK$59,074,000 in the previous year[17]. - Loss before taxation from continuing operations was HK$50,456,000, significantly higher than the loss of HK$4,316,000 reported for the same period in 2019[17]. - Loss for the period from continuing operations amounted to HK$50,645,000, compared to a loss of HK$2,835,000 in the prior year, indicating a substantial increase in losses[17]. - Total comprehensive expense for the period was HK$64,558,000, compared to HK$7,195,000 in the same period of 2019, reflecting a significant increase in overall losses[19]. - Basic loss per share from continuing operations was HK$0.199, compared to HK$0.107 in the previous year, indicating a worsening financial performance[22]. - The company reported a loss for the period of HK$50,580,000 for the six months ended June 30, 2020, compared to a loss of HK$6,083,000 for the same period in 2019, reflecting a significant increase in losses[31]. Assets and Liabilities - Non-current assets decreased to HK$521,148,000 as of June 30, 2020, down from HK$584,521,000 at the end of 2019[26]. - Current assets increased slightly to HK$596,721,000 from HK$587,980,000 at the end of 2019, showing a stable liquidity position[26]. - As of June 30, 2020, the company's net assets decreased to HK$821,660,000 from HK$886,218,000 as of December 31, 2019, representing a decline of approximately 7.3%[29]. - The total equity attributable to owners of the company was HK$825,119,000 as of June 30, 2020, down from HK$889,442,000 at the end of 2019, indicating a decrease of about 7.2%[31]. - Current liabilities increased to HK$242,526,000 as of June 30, 2020, from HK$229,744,000 at the end of 2019, marking an increase of approximately 5.6%[29]. - The total assets less current liabilities decreased to HK$875,343,000 as of June 30, 2020, from HK$942,757,000 at the end of 2019, indicating a decline of approximately 7.1%[29]. - The Group's total assets decreased from HK$163,833,000 as of December 31, 2019, to HK$145,169,000 as of June 30, 2020, reflecting a decline of 11.5%[118]. Revenue Breakdown - For the six months ended June 30, 2020, the Group's revenue from manufacturing and sales was HK$198,646,000, a decrease of 9.1% compared to HK$218,419,000 for the same period in 2019[51]. - The total revenue from the music and entertainment business was HK$1,554,000, down 76.8% from HK$6,696,000 in the previous year[51]. - Revenue from the Manufacturing and Sales Business was HK$198,646,000, down 9.1% from HK$218,419,000 in the previous year[61]. - The Music and Entertainment Business reported a revenue of HK$1,554,000, a significant decline of 77.8% from HK$6,696,000 in the prior year[61]. - The Property Business generated revenue of HK$2,442,000, down 35.5% from HK$3,788,000 in the same period last year[61]. Cash Flow and Financing - Net cash from operating activities for the six months ended June 30, 2020, was HK$22,804,000, a decrease from HK$45,296,000 in the same period of 2019[34]. - The company incurred net cash used in investing activities of HK$27,126,000 for the six months ended June 30, 2020, compared to HK$38,769,000 in the prior year, indicating a reduction in cash outflow for investments[34]. - The Group's net cash used in financing activities was HK$10,357,000, compared to HK$525,000 in the same period last year, indicating a significant increase in cash outflow[36]. - New bank borrowings raised amounted to HK$58,930,000, slightly up from HK$57,265,000 in the previous year[36]. - The repayment of bank borrowings was HK$62,555,000, which increased from HK$51,829,000 in the previous year[36]. - The Group reported a net decrease in cash and cash equivalents of HK$14,679,000 for the six months ended June 30, 2020, compared to an increase of HK$6,002,000 in the same period last year[36]. Strategic Initiatives - The company plans to expand its market presence in Southeast Asia, targeting a 25% growth in that region over the next fiscal year[16]. - New product development initiatives are underway, focusing on eco-friendly printing technologies, expected to launch by Q4 2021[16]. - The company is exploring potential mergers and acquisitions to enhance its service offerings and market share[16]. - The Group plans to invest in automated machinery and upgrade production facilities to enhance efficiency and control costs[180]. - The Group aims to expand into the luxury packaging and paper products market, which has higher profit margins[182]. Challenges and Risks - The Group anticipates ongoing challenges in the Manufacturing and Sales Business due to COVID-19 and geopolitical tensions affecting sales and production activities[179]. - The Group expects the negative impact from the COVID-19 outbreak to continue affecting the music and entertainment business segment throughout 2020, prompting the exploration of investment opportunities and cost-tightening policies[186]. - The Group will closely monitor accounts receivable collection to mitigate bad debt risks[182]. Corporate Governance and Social Responsibility - The board of directors emphasizes a commitment to sustainable practices and corporate social responsibility initiatives moving forward[16]. - No dividends were paid, declared, or proposed during both interim periods[80]. - Key management personnel compensation decreased to HK$3,043,000 from HK$3,552,000 in the previous year[146].

Market Challenges and Economic Environment - The Group faced various market challenges in 2019, including the trade dispute between the U.S. and China, which negatively impacted financial performance[11]. - The COVID-19 pandemic has further complicated the business environment, impacting daily life and the global economy[12]. - The Group's financial performance for the year ended December 31, 2019, reflects the adverse effects of political unrest in Hong Kong[11]. - The Group anticipates challenges in 2020 due to global economic and political risks, including the U.S.-China trade dispute and the COVID-19 pandemic, which are expected to negatively impact all business sectors[102]. Financial Performance - Total revenue from continuing operations for the year was approximately HK$560.6 million, a decrease of about 5.3% compared to HK$592.2 million in 2018[22]. - The gross profit margin improved to approximately 27.1%, up from 23.1% in 2018[22]. - The Lending Business generated approximately HK$8.5 million in interest income, an increase of about 18.0% from HK$7.2 million in 2018, despite a decrease in the loan portfolio to approximately HK$67.6 million from HK$80.8 million[26]. - The Manufacturing and Sales Business revenue decreased by approximately 6.8% to HK$490.0 million, down from HK$525.7 million in 2018, primarily due to reduced orders from overseas and domestic clients[32]. - Revenue from the music and entertainment segment decreased by approximately 34.5% to HK$11.9 million, compared to HK$18.1 million in 2018, with a segment loss of approximately HK$7.2 million, up from HK$2.8 million in 2018[36][38]. - The segment loss margin deteriorated to 60.3% from 15.6% in 2018, primarily due to losses incurred from investments in concerts and increased production costs of physical albums[37][39]. - Revenue from concerts and shows decreased by approximately 57.3% to HK$3.2 million, down from HK$7.6 million in 2018, with only one concert organized during the year[40][42]. - The average exchange rate of Renminbi against Hong Kong dollars depreciated by approximately 3.9%, positively impacting segment profit as most expenses were denominated in RMB[39][41]. - The net impairment loss on financial assets and contract assets decreased by approximately HK$11.1 million to approximately HK$0.3 million, down from HK$11.4 million in 2018[39][41]. - The Group's equity instruments at FVTOCI and FVTPL as of December 31, 2019, amounted to approximately HK$82.7 million, a decrease from approximately HK$114.1 million as of December 31, 2018[73][76]. - The Group recorded a fair value loss of securities trading investments in Hong Kong of approximately HK$15.2 million for the year, compared to a loss of approximately HK$35.5 million in 2018[73][76]. Cost Control and Efficiency - The Group implemented stringent cost control measures to minimize waste and improve efficiency across all business segments[11]. - The Group focused on cost reduction and efficiency enhancement in its manufacturing operations, including acquiring new machines and reorganizing production zones[31]. - The ratio of total staff costs and related expenses to sales remained constant compared to 2018, with an increase in production staff to improve efficiency[34]. - Quality management and credit control on receivables will be prioritized in 2020, with a new quality management policy already yielding satisfactory results[113]. Business Diversification and Development - Business diversification is a key development goal to balance instability across different sectors globally[12]. - The Group allocated more financial resources to develop the domestic market, resulting in improved performance in certain business segments compared to 2018[18]. - The Group plans to diversify and expand its business cautiously in response to the complex market conditions anticipated in 2020[102]. - The Group is actively seeking cooperation opportunities for the development of industrial land in Qingyuan, with negotiations ongoing for a biomedical industrial park project[121]. Investments and Future Plans - The Group plans to expand its label sales in the PRC by adopting advanced printing technologies, targeting a new market with higher profit margins[109]. - The Group will renovate parts of its Shenzhen factory to create a fully automated workshop for high-quality products, with renovations starting in April 2020[109]. - The Group intends to acquire new printing machines and ancillary equipment to increase production efficiency and reduce defect rates[109]. - The Group plans to allocate more resources to promote the mini-storage business to improve the occupancy rate, which decreased due to renovation work[130]. - The Group established two production lines for surgical masks in response to increased demand due to COVID-19, with mass production planned to start in 2020[129]. Shareholder and Corporate Governance - The Chairman expressed gratitude to shareholders and stakeholders for their support during a challenging year[16]. - The Board has consistently met the Listing Rules requirements, including the appointment of at least three independent non-executive Directors, with one possessing appropriate professional qualifications or financial management expertise[172]. - The Company has received written annual confirmations from all existing independent non-executive Directors regarding their independence, in line with the Listing Rules[175]. - The Chairman and Chief Executive Officer roles are held by different individuals to ensure independence and balanced judgment[177]. - Each non-executive Director has a term of appointment of three years, with specific terms outlined for individual Directors[183].

Financial Compliance and Governance - The condensed consolidated financial statements were reviewed and found to be in compliance with HKAS 34, with no significant issues identified[12]. - The interim report is prepared in accordance with the relevant provisions of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited[8]. - The company has a dedicated company secretary, ensuring compliance with corporate governance standards[4]. - The board of directors includes executive, non-executive, and independent non-executive members, ensuring a diverse governance structure[4]. - The auditor for the financial statements is Deloitte Touche Tohmatsu, a reputable firm in the industry[14]. Financial Performance - Total revenue from continuing operations decreased to HK$252,883,000 for the six months ended June 30, 2019, down from HK$272,483,000 in the same period of 2018, representing a decline of approximately 7.5%[16]. - Gross profit for the period was HK$59,074,000, slightly up from HK$58,933,000, indicating a marginal increase of 0.2%[16]. - Loss before taxation from continuing operations improved to HK$4,316,000 compared to a loss of HK$11,893,000 in the prior year, reflecting a reduction of approximately 63.7%[16]. - Loss for the period from continuing operations was HK$2,835,000, significantly better than the loss of HK$15,533,000 reported in the same period last year, marking an improvement of about 81.8%[16]. - Total comprehensive expense for the period attributable to owners of the Company was HK$7,073,000, a decrease from HK$49,290,000 in the previous year, indicating a reduction of approximately 85.6%[21]. - Basic loss per share from continuing operations was HK$0.0107, compared to HK$0.0607 in the same period of 2018, showing an improvement of about 82.3%[21]. - The company reported a loss for the period of HK$6,083,000, compared to a loss of HK$22,835,000 in the same period last year, indicating an improvement in financial performance[29]. Revenue Breakdown - The Group's revenue from manufacturing and sales of printing products for the six months ended June 30, 2019, was HK$218,419,000, a decrease of 9.7% compared to HK$241,981,000 for the same period in 2018[132]. - Revenue from the Music and Entertainment Business for the six months ended June 30, 2019, totaled HK$6,696,000, down from HK$8,642,000 in the previous year, reflecting a decline of 22.4%[132]. - Revenue from Hong Kong for the six months ended June 30, 2019, was HK$97,691,000, down 11.8% from HK$110,701,000 in 2018[135]. - The Group's income from the licensing of musical works was HK$951,000 for the six months ended June 30, 2019, compared to HK$1,382,000 in the previous year, a decline of 31.1%[132]. - The Group's revenue from the PRC for the six months ended June 30, 2019, was HK$96,897,000, an increase of 6.1% from HK$91,406,000 in 2018[135]. - Revenue from the Lending Business increased to HK$3,717,000 in the six months ended June 30, 2019, compared to HK$2,266,000 in the same period of 2018, representing a growth of 64%[143]. - The Property Business generated revenue of HK$3,788,000, slightly up from HK$3,705,000, showing a marginal increase of 2.2%[143]. Assets and Liabilities - Non-current assets increased to HK$563,917,000 as of June 30, 2019, compared to HK$492,410,000 at the end of 2018, indicating a growth of approximately 14.5%[24]. - Cash and cash equivalents stood at HK$192,283,000, up from HK$185,786,000, representing an increase of about 3.0%[24]. - As of June 30, 2019, the net current assets decreased to HK$413,972,000 from HK$445,808,000 as of December 31, 2018, representing a decline of approximately 7.4%[27]. - Total assets less current liabilities increased to HK$977,889,000 from HK$938,218,000, marking an increase of about 4.2%[27]. - Total equity attributable to owners of the Company decreased to HK$922,959,000 from HK$930,032,000, reflecting a decline of approximately 0.8%[27]. - The company's bank borrowings increased to HK$92,243,000 from HK$86,807,000, which is an increase of approximately 6.5%[27]. - Total segment assets decreased slightly to HK$957,207,000 as of June 30, 2019, from HK$958,447,000 at the end of 2018[149]. - Total segment liabilities increased to HK$260,394,000 as of June 30, 2019, from HK$213,788,000 at the end of 2018, reflecting a rise of 21.8%[152]. Cash Flow and Investments - For the six months ended June 30, 2019, the net cash from operating activities before movements in working capital was HK$11,494,000, compared to a negative HK$863,000 in the same period of 2018, indicating a significant improvement[32]. - Net cash used in investing activities was HK$38,769,000, which included purchases of property, plant, and equipment amounting to HK$14,677,000[34]. - New bank borrowings raised during the period amounted to HK$57,265,000, while repayments of bank borrowings totaled HK$51,829,000, indicating active financing activities[34]. - The net increase in cash and cash equivalents for the period was HK$6,002,000, compared to a decrease of HK$36,375,000 in the prior year[34]. - Cash and cash equivalents at the end of the period stood at HK$192,283,000, up from HK$153,155,000 at the end of the previous period[34]. Lease Accounting - The Group has adopted HKFRS 16 "Leases" for the first time, which may impact future financial reporting and lease liabilities[39]. - The Group recognized lease liabilities of HK$6,283,000 for current liabilities and HK$55,012,000 for non-current liabilities as of January 1, 2019, due to the initial application of HKFRS 16[127]. - The Group's non-current assets increased from HK$149,487,000 as of December 31, 2018, to HK$271,407,000 as of January 1, 2019, after adjustments related to HKFRS 16[127]. - The Group presents right-of-use assets that do not meet the definition of investment property within "property, plant, and equipment"[63]. - The Group has applied HKFRS 16 retrospectively with the cumulative effect recognized at the date of initial application, January 1, 2019[101]. - The Group's addition to property, plant, and equipment during the current interim period was approximately HK$22,290,000, slightly up from approximately HK$21,710,000 for the same period in 2018[183]. Discontinued Operations - The Gaming Distribution Business segment has been discontinued, and its financials are not included in the current reporting period[140]. - The revenue from the discontinued Gaming Distribution Business was HK$0 for the six months ended June 30, 2019, down from HK$385,000 in 2018[168]. - The loss from discontinued operations for the six months ended June 30, 2019, was approximately HK$3,357,000, down from HK$7,433,000 in the same period of 2018, resulting in a basic loss per share of HK$1.32, compared to HK$2.93 in 2018[182]. - Administrative expenses for the discontinued operation were HK$3,358,000 for the six months ended June 30, 2019, compared to HK$7,482,000 in 2018[168]. Taxation - The tax rate for Hong Kong profits is calculated at 16.5% for both periods, while the tax rate for PRC subsidiaries is 25%[158]. - The total taxation credit for the period was HK$1,481,000, compared to a taxation charge of HK$3,640,000 in the previous period[162]. - The company reported a deferred tax credit of HK$4,659,000 for the current period, contrasting with a deferred tax charge of HK$731,000 in the previous period[162]. Legal Proceedings - The Group is involved in ongoing legal proceedings regarding a shareholder's loan of RMB23,479,330, with a freeze order on assets valued at RMB23,400,000[192]. - The Group received a civil mediation document confirming the repayment agreement for the shareholder's loan, with a deadline for repayment set for October 15, 2015[193]. - The updated freeze order on the land owned by the subsidiary is effective from May 13, 2019, to May 12, 2022[194]. - The shareholder's loan from Zhongqing has not yet been settled, but the directors believe there is no impairment on both the properties under development for sale and the shareholder's loan[198].