Operational Performance - In 2019, the Group achieved steady growth in operational results, driven by its goal of becoming a comprehensive "industry-finance-internet" service provider[13]. - The Group made significant progress in reshaping its organizational structure and controlling operational costs, indicating that its business in Hong Kong and Shenzhen is on track[13]. - The Group plans to launch an online platform based on an intelligent risk decision model to expand its customer base and enhance operational efficiency[13]. - In 2020, the Group aims to enhance competitive advantages and synergies among regional businesses while developing upstream and downstream operations[13]. - The Group aims to maintain stable growth and maximize returns for shareholders in the future[18]. - The Group is focusing on strategic transformation and enhancing its competitive advantages through technology and innovation[20]. Financial Results - The Group recorded a net loss of HK$10,000 for the year, a significant reduction from a net loss of HK$88,822,000 in the previous year, representing a decrease of approximately 88.7%[20]. - Total revenue decreased by 19% to HK$13,458,000, down from HK$16,529,000 in the previous year[20]. - Revenue from rental income decreased by 36% year-over-year to HK$6,874,000, compared to HK$10,747,000 in 2018[20]. - Revenue derived from horticultural services increased by 35% to HK$6,584,000, up from HK$4,894,000 in the previous year[20]. - Operating and administrative expenses decreased by 38% to HK$34,951,000 from HK$56,267,000 in the prior year[22]. - Finance costs increased by 36% to HK$8,104,000, compared to HK$5,943,000 in 2018[22]. - The total equity of the Group remained approximately the same at HK$196,842,000, slightly down from HK$196,856,000 in the previous year[22]. - The net asset value per share as of December 31, 2019, was HK$0.07, unchanged from the previous year[22]. Business Strategy - The Group will focus on high-tech industries, particularly information technology, to drive innovation and develop a new generation smart community property management system[15]. - The Group intends to consolidate its advantages in industry, fund, and asset quality to serve clients and reward shareholders[15]. - The Group's strategy includes leveraging a coordinated system of "industry + finance + internet" to establish a collaborative system among its business segments[15]. - The Group is considering expanding its property management business into mainland China[26]. - The Group is conducting a detailed review of its business to formulate a long-term strategy and explore new business opportunities[26]. Human Resources - As of December 31, 2019, the Group employed a total of 24 employees, down from 36 in 2018, after laying off 12 staff, resulting in employee benefits expense of HK$16,190,000, a decrease of 50% from HK$32,357,000 in 2018[36]. - The Group's employee benefits expense for the year ended December 31, 2019, was HK$16,190,000, reflecting a significant reduction in workforce costs[36]. - The Group emphasizes a people-oriented management culture, providing competitive remuneration and training opportunities to enhance productivity and core competency[58]. Corporate Governance - The Board believes that good corporate governance is crucial for improving efficiency and safeguarding shareholder interests[125]. - The company has adopted the corporate governance code as per the Listing Rules and has complied with all applicable provisions, except for two deviations related to the absence of committee chairs at the annual general meeting and the dual role of the Chairman and CEO[127]. - The Board of Directors consists of three executive directors, one non-executive director, and three independent non-executive directors, ensuring a balanced power structure[129]. - The company has taken sufficient measures to ensure its corporate governance practices are no less exacting than the Code and will periodically review and improve these practices[129]. - The company has established guidelines for material transactions requiring Board approval, including mergers and acquisitions and major capital expenditures[148]. Audit and Compliance - The auditor expressed a Qualified Opinion for the financial years ended December 31, 2018, and 2019 due to insufficient evidence regarding the accounting treatment of certain associates and subsidiaries[68]. - The Company has been unable to obtain necessary documents for audit purposes due to operational issues with its Taiwan and Japan subsidiaries[69]. - The audit qualifications remain for FY2019 due to delays caused by various incidents, including protests and the coronavirus[69]. - The Board acknowledges the insufficiency of documents for audit and aims to resolve the audit qualifications as soon as practicable[72]. - The Audit Committee agrees with the auditor's position regarding the audit qualifications[74]. Shareholder Information - The Company has adopted a dividend policy that allows for the distribution of dividends in cash or shares, subject to the Board's discretion and shareholder approval, with no assurance of dividends being proposed in specific periods[39]. - As of December 31, 2019, the Company's distributable reserves were Nil, unchanged from 2018[66]. - The Company has not recommended any dividend payment for the year ended December 31, 2019[64]. - Sales to the Group's five largest customers accounted for 25% of total sales for the year, down from 32% in 2018, with the largest customer contributing 15%[66]. - Purchases from the Group's five largest suppliers accounted for 54% of total purchases for the year, a decrease from 79% in 2018, with the largest supplier contributing 29%[66]. Risk Management - The Company has not identified any material uncertainties affecting its ability to continue as a going concern[178]. - The Board is responsible for evaluating and determining the nature and extent of risks in achieving the Group's strategic objectives and maintaining effective risk management and internal control systems[197]. - An external consultant reviewed the Group's financial reporting procedures and internal controls for the year ended December 31, 2019, providing recommendations for improvement[197]. - A year-end review of the effectiveness of the Company's risk management and internal control systems is conducted annually, and the systems are considered effective and adequate[197]. Director Information - Mr. Huang Binghuang holds 2,112,533,229 ordinary shares, representing 74.94% of the total shares through China Asia Graphene Holding Group Co. Limited[85]. - As of December 31, 2019, no other directors or chief executives had any interests or short positions in the shares of the Company[87]. - The existing share option scheme allows for the issuance of 263,165,208 shares, which is 10% of the issued shares as of the adoption date on June 25, 2013[94]. - The Company Secretary is responsible for forwarding shareholder enquiries to the appropriate executives or Board members for further handling[189]. - The Company failed to meet the requirement for appointing a Company Secretary between June 27, 2019, and August 29, 2019, due to the outstanding appointment[183].

Financial Performance - For the six months ended June 30, 2019, the revenue was HK$6,647,000, a decrease of 17.2% compared to HK$8,026,000 in the same period of 2018[12] - Gross profit for the same period was HK$6,253,000, down 14.7% from HK$7,327,000 in 2018[12] - Loss from operations was HK$2,882,000, significantly improved from a loss of HK$21,511,000 in the prior year[12] - Total comprehensive expenses attributable to owners of the Company for the period were HK$7,392,000, compared to HK$23,320,000 in 2018[13] - Basic and diluted loss per share for the period was HK$0.26, an improvement from HK$0.87 in the same period last year[13] - The Group incurred a loss of approximately HK$7,375,000 for the six months ended 30 June 2019[33] - The consolidated loss before tax for the six months ended June 30, 2019, was HK$7,375,000, compared to HK$24,660,000 in 2018, indicating a significant reduction of 70%[185] - Revenue from external customers for the six months ended June 30, 2019, was HK$6,647,000, down from HK$7,952,000 in 2018, representing a decline of 16.4%[191] Expenses and Liabilities - Operating and administrative expenses decreased to HK$18,549,000, down 35.9% from HK$28,969,000 in the previous year[12] - The Group's net current liabilities as of June 30, 2019, were HK$204,086,000, compared to HK$196,641,000 at the end of 2018[17] - Total liabilities as of June 30, 2019, were HK$224,714,000, up from HK$209,501,000 at the end of 2018, marking a rise of 7.24%[190] - The company recorded finance costs of HK$4,493,000 for the six months ended June 30, 2019, compared to HK$2,894,000 in the same period of 2018, indicating an increase of 55.3%[184] - Unallocated corporate expenses decreased to HK$2,535,000 in the first half of 2019 from HK$8,883,000 in 2018, showing a reduction of 71.5%[184] Income and Gains - Other income increased to HK$200,000 from HK$164,000 in 2018, reflecting a growth of 22%[12] - The Company reported a significant other gain of HK$9,214,000 for the period, compared to a loss of HK$33,000 in the previous year[12] - The company reported a gain on the disposal of subsidiaries amounting to HK$9,109,000 for the six months ended June 30, 2019, with the total cash consideration for the disposal being approximately HK$9,500,000[199] Revenue Breakdown - Revenue from contracts with customers was HK$3,468,000, an increase of 32.3% from HK$2,622,000 in the previous year[86] - Rental income decreased to HK$3,179,000 from HK$5,404,000, representing a decline of 41.0%[86] - Revenue from the sale of plants and provision of horticultural services was HK$3,468,000, up from HK$2,412,000[85] - Revenue from the sale of horticultural services was HK$3,240,000, contributing significantly to the overall revenue[92] - The revenue from the sale of graphene was HK$74,000, reflecting a niche market performance[92] Assets and Equity - The total equity of the Group as of June 30, 2019, was HK$189,464,000, a decrease from HK$196,856,000 at the end of 2018[17] - Total assets as of June 30, 2019, amounted to HK$414,178,000, an increase from HK$406,357,000 as of December 31, 2018, reflecting a growth of 1.99%[186] - The Group had investments in associates valued at HK$395,151,000 as of June 30, 2019, compared to HK$386,522,000 at the end of 2018, reflecting a growth of 2.3%[186] Accounting Policies and Standards - The Group adopted all new and revised Hong Kong Financial Reporting Standards effective from January 1, 2019, with no significant changes to accounting policies or financial statement presentation[51] - The adoption of HKFRS 16 did not result in restating comparatives for the 2018 reporting period, as permitted under the transitional provisions[53] - The Group's accounting policies and calculation methods remain consistent with those used in the annual financial statements for the year ended December 31, 2018, except as noted[41] - The Group's right-of-use assets increased by HK$5,467,000 as of January 1, 2019, reflecting the adoption of HKFRS 16[56] - The Group's lease liabilities also increased by HK$5,467,000 as of January 1, 2019, in line with the recognition of right-of-use assets[56] Segment Information - The Group's operating segments include property investment, horticultural services, graphene manufacturing and sales, property management, and money lending[75] - The Group's reportable segments are managed separately due to different technology and marketing strategies required for each business[75] - The total loss of reportable segments for the six months ended June 30, 2019, was HK$9,763,000, a decrease from HK$11,985,000 in the same period of 2018, representing a 18.5% improvement[184] - Segment assets as of June 30, 2019, totaled HK$395,151,000, while segment liabilities were HK$18,672,000[176]

Financial Performance - The Group recorded a substantial loss of HK$88,822,000 for the year, compared to a profit of HK$51,898,000 in the previous year[7]. - Total revenue increased by 13% to HK$16,529,000, up from HK$14,572,000 in 2017[7]. - Revenue from rental income grew by 6% year-over-year to HK$10,747,000, compared to HK$10,126,000 in 2017[7]. - Revenue from horticultural services recorded a 19% increase to HK$4,894,000, up from HK$4,122,000 in 2017[7]. - Operating and administrative expenses decreased by 17% to HK$56,267,000, down from HK$67,973,000 in the prior year[7]. - Total equity decreased by 31% to HK$196,856,000, compared to HK$284,266,000 in 2017[7]. - The net asset value per share as of December 31, 2018, was HK$0.07, down from HK$0.10 in 2017[7]. - The Group recorded net current liabilities of HK$196,641,000 for the year ended 31 December 2018, an increase from HK$144,586,000 in 2017[17]. - The Group had net operating cash outflows of HK$38,761,000 during the year[17]. Financing and Debt - The Group's outstanding bank loans remained at HK$200,000,000 as of December 31, 2018[13]. - The Group is actively seeking sources of financing to improve its financial situation[17]. - The bank has not yet notified the Company of the results of its credit review regarding the existing banking facility[16]. - As of December 31, 2018, HK Guoxin Investment Group Limited is indebted to the petitioner for a debt of HK$170,000,000, leading to a winding-up petition against it[81]. - The loan facility of HK$200,000,000 was accepted on August 12, 2016, and renewed in August 2018[112]. - Mr. Li Feng Mao, the ultimate controlling shareholder, is required to hold over 50% of the controlling shares during the loan facility period[113]. Corporate Governance - The Company complied with all applicable provisions of the Corporate Governance Code during the year ended December 31, 2018, except for the absence of the Chairman at the general meeting[130]. - The Board of Directors consists of three executive directors and three independent non-executive directors, ensuring compliance with the Listing Rules[146]. - The Company has established guidelines for material transactions requiring Board approval, including mergers and acquisitions[143]. - The Company has arranged liability insurance for its directors, which is reviewed annually[145]. - The Company will periodically review and improve its corporate governance practices in line with the latest developments[132]. - The Audit Committee met three times during the year ended December 31, 2018, with the presence of external auditors to review interim and annual results[160]. - The consolidated financial statements for the year ended December 31, 2018, were reviewed by the Audit Committee, with a recommendation to the Board for approval[164]. - The Company has established a Nomination Committee to ensure fairness and transparency in the nomination process for directors[172]. - The Company recognizes the benefits of a diverse Board, considering various perspectives such as gender, age, and professional experience in candidate selection[179]. Shareholder Information - For the year ended December 31, 2018, sales to the Group's five largest customers accounted for 32% of total sales, down from 38% in 2017, with the largest customer contributing 23% of total sales, up from 13% in 2017[64]. - Purchases from the Group's five largest suppliers represented 79% of total purchases for the year, an increase from 77% in 2017, with the largest supplier accounting for 41% of total purchases, up from 23% in 2017[64]. - As of December 31, 2018, the Company's distributable reserves were Nil, unchanged from 2017[63]. - The directors do not recommend the payment of any dividend for the year ended December 31, 2018[51]. - Shareholders holding not less than one-tenth of the issued share capital can requisition a special general meeting, with the Board required to arrange the meeting within two months of receiving the request[193]. - If the Board fails to convene the special general meeting within 21 days of the requisition, the shareholder may proceed to do so under Bermuda Companies Act Section 74(3)[194]. - The company provides timely updates and corporate information through its website, ensuring shareholders have access to interim and annual reports, announcements, and circulars[200]. Auditor and Financial Reporting - The auditor received approximately HK$830,000 for audit and audit-related services, an increase from HK$705,000 in 2017[188]. - The auditor's remuneration for non-audit services was HK$60,000, consistent with the previous year[188]. - The Company Secretary completed no less than 15 hours of relevant professional training during the year ended December 31, 2018, as required by the Listing Rules[189]. - The directors acknowledged their responsibility for preparing the financial statements, ensuring they present a true and fair view of the Company's state of affairs[185]. - The consolidated financial statements for the year ended December 31, 2018, were audited by ZHONGHUI[124]. - The Company appointed Zhonghui Anda CPA Limited as its new auditor effective from January 30, 2019, after the resignation of Zhongrui Yuehua CPA Limited due to a disagreement on audit fees[126]. Employee and Operational Information - As of 31 December 2018, the Group had a total of 36 employees, down from 41 in 2017[18]. - The Company emphasizes sustainable business practices and has made progress in environmental policies and resource efficiency[38]. - The Group maintains good relationships with employees, customers, and suppliers to enhance productivity and service quality[41]. - The Company encourages directors to participate in continuous professional development to enhance their knowledge and skills[151].