Financial Performance - Total revenue for the six months ended June 30, 2024, was HKD 2,733,478, an increase of 139.5% compared to HKD 1,148,217 in the same period of 2023[2] - The company reported a gross profit of HKD 584,554 for the first half of 2024, compared to HKD 250,823 in the same period of 2023, representing a 133.3% increase[2] - The net profit for the period was HKD 15,654, a significant recovery from a loss of HKD 133,384 in the first half of 2023[2] - The company reported a significant increase in property sales revenue, reaching HKD 2,709,273, compared to HKD 1,134,233 in the same period of 2023, marking an increase of 138.0%[2] - Total revenue for the six months ended June 30, 2024, was HKD 2,723,478,000, with property development and sales contributing HKD 2,709,273,000[10] - The adjusted profit before tax for the group was a loss of HKD 16,369,000, with total tax expenses amounting to HKD 158,130,000[10] - The group reported a loss of HKD 859,000 related to the fair value of investment properties under development and properties held for sale[10] - The company reported a loss before tax of HKD 149,964 for the six months ended June 30, 2024, compared to a loss of HKD 133,384 for the same period in 2023[22] - The total tax expense for the six months ended June 30, 2024, was HKD 142,476, compared to a tax credit of HKD 16,580 for the same period in 2023[21] - The group reported a net profit attributable to shareholders of HKD 13,200,000 for the first half of 2024, compared to a loss of HKD 117,100,000 in the same period last year[26] Assets and Liabilities - The company’s total assets as of June 30, 2024, amounted to HKD 15,132,669, compared to HKD 14,534,750 as of December 31, 2023, reflecting an increase of 4.1%[4] - The company’s total liabilities decreased to HKD 13,025,113 from HKD 13,303,368, a reduction of 2.1%[5] - Total assets as of June 30, 2024, reached HKD 29,272,000,000, while total liabilities were HKD 39,834,000,000[10] - The total borrowings reached HKD 3,021,600,000, up from HKD 2,009,800,000 as of December 31, 2023, with 100% of the borrowings denominated in RMB[34] - The group's total borrowings due within one year amounted to HKD 316.9 million, representing 10.5% of total borrowings[34] Cash Flow and Expenditures - The company’s cash and bank balances decreased to HKD 813,203 from HKD 997,547 at the end of 2023, a decline of 18.5%[4] - Capital expenditures for the period amounted to HKD 34,432,000, with significant investments in property development and management[10] - Capital expenditures for the six months ended June 30, 2024, were HKD 39,133, compared to HKD 39,133 in the same period of 2023[13] - The group actively manages its financial resources and has established appropriate financing plans for working capital and capital expenditures[34] Earnings Per Share - The company’s basic and diluted earnings per share for the period was HKD 1.7 cents, recovering from a loss of HKD 14.6 cents in the same period of 2023[2] - The basic earnings per share for the six months ended June 30, 2024, was HKD 0.0165, compared to a loss per share of HKD 0.146 for the same period in 2023[23] Market Outlook and Strategy - The group anticipates continued economic challenges in the second half of 2024, with a focus on stabilizing growth in the real estate market in China[31] - The UK economic outlook remains uncertain, with potential fluctuations in growth depending on interest rate cuts and global conditions[32] - The group plans to cautiously seek investment opportunities in stable property markets to promote sustainable growth[33] - The group expects gradual improvement in its real estate business in mainland China due to government support for economic growth and the real estate market[33] Employee and Corporate Governance - The group has 325 employees as of June 30, 2024, and offers various employee benefits including medical insurance and retirement plans[37] - The board of directors did not recommend the distribution of an interim dividend for the period ending June 30, 2024[38]

Risk Management and Governance - The company has established a risk management framework that includes the board of directors, audit committee, internal audit function, and management to oversee risk management and internal control systems[13]. - The audit committee consists of three independent non-executive directors and meets at least twice a year with external auditors to ensure the effectiveness of financial reporting and risk management systems[6]. - There were no significant monitoring failures or deficiencies identified during the year, and the company maintained sufficient resources and training for its accounting and internal audit functions[8]. - The audit committee reviewed the independence and objectivity of the external auditor, Ernst & Young, and recommended their reappointment for the upcoming year[7]. - The board of directors has conducted meetings to review compliance with risk management and internal control codes, confirming no errors or irregularities were found[17]. - The company has maintained a sufficient risk management and internal control system throughout the year, ensuring operational efficiency and compliance with laws and regulations[8]. - The audit committee plays a crucial role in monitoring the company's financial reporting system and risk management processes, holding regular meetings to discuss identified risks[7]. - The board is committed to integrating risk management features into business operations and property investments, ensuring a robust risk management policy[20]. - The risk management procedures include identifying risk factors, analyzing risk levels, and implementing monitoring mechanisms to mitigate business disruptions[20]. - The company plans to conduct a comprehensive review of its risk scope at least annually to monitor changes and the effectiveness of control mechanisms[20]. Environmental, Social, and Governance (ESG) Initiatives - The company has established a comprehensive governance framework to support its sustainable development strategy, with annual reviews of its environmental, social, and governance (ESG) policies[33]. - The board is responsible for overseeing the effectiveness of the company's ESG risk management and internal control systems, with diverse skills and experience among its members[33]. - The company has identified 16 significant environmental, social, and governance (ESG) issues that impact stakeholders and the economy, which are prioritized for strategic planning[58]. - The board and senior management have engaged in assessing the importance of ESG issues, collecting stakeholder feedback through surveys[58]. - The company is committed to reducing its operational environmental impact, focusing on air pollutants, greenhouse gas emissions, and wastewater management[65]. - The company has set a greenhouse gas emission reduction target to decrease its emission intensity (tons of CO2 equivalent per million revenue) by 3% from the 2021 baseline by 2026[90]. - The company aims to reduce the total disposal intensity of non-hazardous waste (tons per million revenue) by 3% from the 2021 baseline by 2026[90]. - The total energy consumption intensity (kWh per million revenue) is targeted to decrease by 3% from the 2021 baseline by 2026[90]. - Water consumption intensity (cubic meters per million revenue) is also set to decrease by 3% from the 2021 baseline by 2026[90]. - The company has adopted a comprehensive corporate social responsibility policy to guide its sustainable development strategy[108]. Financial Performance - The company reported a total revenue of HKD 2,450 million for the fiscal year ending December 31, 2023[37]. - The total expenses for non-audit services amounted to HKD 3,116 million[38]. - The total revenue for 2023 was approximately HKD 7,274,368,000, a significant increase from HKD 2,706,963,000 in 2022[100]. - The net loss attributable to shareholders for the year ended December 31, 2023, was HKD 30,100,000, with a loss per share of HKD 0.038, compared to a loss of HKD 476,000,000 and a loss per share of HKD 0.595 for the year ended December 31, 2022[196]. - As of December 31, 2023, the net asset value attributable to shareholders was HKD 1,029,100,000, down from HKD 1,053,000,000 as of December 31, 2022, resulting in a net asset value per share of HKD 1.29 compared to HKD 1.32 in the previous year[196]. - The company did not recommend a final dividend for the year ended December 31, 2023, consistent with the previous year, and no interim dividend was declared[196]. Employee and Workplace Practices - The employee gender ratio as of December 31, 2023, is 63.2% male and 36.8% female, with a commitment to gradually increase the proportion of female employees[40]. - The overall employee turnover rate for 2023 was approximately 27.43%, a decrease from 39.76% in 2022[138]. - The group maintained a zero fatality rate in workplace accidents for three consecutive fiscal years, with no recorded work-related deaths in 2023[146]. - The group provides competitive compensation packages, including medical insurance, retirement plans, and training allowances, to attract and retain talent[141]. - The group emphasizes a fair and transparent recruitment process, ensuring equal opportunities regardless of gender, race, or other personal characteristics[138]. - In 2023, approximately 99.65% of employees participated in training, an increase from 97.59% in 2022[150]. - The average training hours per employee in 2023 were approximately 8.65 hours, down from 11.30 hours in 2022[150]. - The company believes that training and development are crucial for achieving both personal and corporate goals[150]. Community Engagement and Charitable Activities - In 2023, the group donated RMB 1,600,000 to the "Meishan Charity Association" for funding community support projects[181]. - The group plans to increase its charitable efforts to meet community needs, focusing on social welfare, education, health, and culture[181]. - The group encourages employee participation in community activities, including charitable fundraising and volunteer work[181]. Compliance and Ethical Standards - The company emphasizes the importance of protecting customer privacy, with strict management requirements in place to safeguard personal information[173]. - The group has implemented a whistleblowing procedure for employees to report misconduct confidentially[178]. - The group has not been aware of any significant violations of anti-corruption laws that have materially affected its operations in 2023[178]. - The group reported no concluded corruption lawsuits against it or its employees in 2023[178].

Financial Performance - Total revenue for the year ended December 31, 2023, was HKD 7,274,368,000, a significant increase from HKD 2,706,963,000 in 2022, representing a growth of approximately 169%[4] - Property sales accounted for HKD 7,246,188,000, compared to HKD 2,681,239,000 in the previous year, indicating a growth of about 170%[4] - The company reported a loss of HKD 73,794,000 for the year, a substantial improvement from a loss of HKD 684,621,000 in 2022, reflecting a reduction in losses by approximately 89%[4] - The gross profit for the year was HKD 1,074,063,000, compared to HKD 125,937,000 in 2022, marking an increase of around 752%[4] - The company reported a pre-tax loss of HKD 789,566 for 2023, an improvement from a loss of HKD 684,621 in 2022[28] - The company recorded a loss attributable to shareholders of HKD 30,100,000 in 2023, a substantial improvement from a net loss of HKD 476,000,000 in 2022, resulting in a loss per share of HKD 0.038 compared to HKD 0.595 in the previous year[42] Assets and Liabilities - The total assets decreased to HKD 16,965,262,000 in 2023 from HKD 18,331,165,000 in 2022, a decline of approximately 7%[7] - Current liabilities decreased to HKD 13,303,368,000 in 2023 from HKD 15,152,324,000 in 2022, a reduction of about 12%[7] - The total liabilities decreased from HKD 17,452,514 in 2022 to HKD 17,452,514 in 2023, with total assets also showing a slight increase to HKD 18,331,165[19] - Total assets amounted to HKD 15,965,262, with total liabilities at HKD 15,149,705, indicating a healthy asset-to-liability ratio[17] - The company's net borrowings as of December 31, 2023, were HKD 1,012,300,000, down from HKD 1,929,000,000 in 2022, with total borrowings of HKD 2,009,800,000[49] - The capital-to-debt ratio improved to 98.4% in 2023 from 183.2% in 2022, indicating better financial stability[49] Dividends and Shareholder Value - The company did not declare any final dividend for the year, consistent with the previous year[4] - The company did not recommend any final dividend for the year ending December 31, 2023, consistent with the previous year[30] - The net asset value attributable to equity holders of the company was HKD 1.29 per share in 2023, slightly down from HKD 1.32 per share in 2022[4] - As of December 31, 2023, the company's net asset value attributable to equity holders was HKD 1,029,100,000, down from HKD 1,053,000,000 in 2022, resulting in a per share net asset value of HKD 1.29 compared to HKD 1.32 in the previous year[38] Operational Highlights - The company recognized a foreign exchange gain of HKD 13,292,000 in 2023, compared to a loss of HKD 142,954,000 in 2022, indicating a positive turnaround in foreign exchange impacts[5] - The total revenue for the property development and sales segment was HKD 7,246,188, while the property investment segment generated HKD 27,050[17] - The adjusted profit before tax for the property development and sales segment was HKD 375,326, with the property investment segment reporting a loss of HKD 108,398[17] - The company continues to monitor its operational segments closely to make informed decisions regarding resource allocation and performance evaluation[15] - Rental income from investment properties increased by 5.9% to HKD 27,100,000 in 2023, compared to HKD 25,500,000 in the previous year, with a 100% occupancy rate for properties in the UK[46] Economic Outlook - The economic outlook for 2024 is expected to be challenging, with high interest rates likely to persist until inflation is within the desired range, influenced by geopolitical uncertainties[54] - In mainland China, the government is anticipated to continue implementing proactive monetary policies and fiscal stimulus to support economic stability and the real estate market[56] - The UK economy is expected to experience fluctuations, with a weak overall real estate market, although London may show more resilience compared to other regions[56] - In Hong Kong, economic growth is projected to be affected by the US interest rate cycle, with the local real estate market remaining weak due to high interest rates[56] Corporate Governance - The audit committee, consisting of three independent non-executive directors, reviewed the group's accounting principles and internal controls for the year ending December 31, 2023[63] - The group did not engage in any share buybacks, sales, or redemptions during the year[65] - The group aims to adopt a prudent and proactive approach in business operations and development, seeking investment opportunities in a stable long-term real estate market[57] Employee Information - As of December 31, 2023, the group employed 288 staff members and provides various employee benefits, including medical insurance and retirement plans[58]

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的內容概不負責，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份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 渝 太 地 產 集 團 有 限 公 司* Y. T. REALTY GROUP LIMITED (於百慕達註冊成立之有限公司) (股份代號：00075) 2023 年中期業績公告 渝太地產集團有限公司(「本公司」)之董事會(「董事會」或「董事」)欣然宣佈本公司及其附屬公司 (統稱「本集團」)截至2023年6月30日止6個月之未經審核綜合業績。 綜合損益表 截至2023年6月30日止6個月 未經審核 截至6月30日止6個月 附註 2023年 2022年 港幣千元 港幣千元 收入 2, 3 出售物業 1,134,233 496,998 租金收入 13,427 12,666 利息收入 557 - 收入總額 1,148,217 509,664 銷售成本 (897,394) (308,166) 毛利 250,823 201,498 其他收入及盈利 5,033 4,740 其他支出及虧損 (80) (1,719) 銷 ...

Corporate Governance and ESG - The company has established a robust corporate governance framework to ensure effective communication with shareholders and stakeholders, which is reviewed annually [9]. - In 2022, the company actively implemented various measures at the operational level to achieve its environmental, social, and governance (ESG) goals, with senior management empowered to collect and analyze ESG data [22]. - The board anticipates steady progress in achieving established ESG objectives through regular reporting from senior management [22]. - The company has adopted a comprehensive corporate social responsibility policy that guides its business and operational decisions, focusing on four key areas: workplace, operational practices, community, and environment [21]. - The board is committed to reviewing and approving the company's ESG management policies and performance at least once a year [20]. - The governance framework is aligned with the company's business direction and is essential for the successful implementation of sustainable development strategies [20]. - The company emphasizes the importance of diversity in its governance structure, considering various aspects such as professional experience, business perspectives, and cultural backgrounds [7]. - The company has established communication channels with stakeholders, including annual general meetings and financial reports, to ensure transparency and information disclosure [26]. - The company has conducted a materiality assessment to identify key ESG issues that significantly impact its business and stakeholders [27]. - The company has established internal controls and formal review procedures to ensure the accuracy and reliability of its environmental, social, and governance reports [51]. - The company reported a significant focus on environmental, social, and governance (ESG) factors, integrating them into its business strategy to ensure sustainable development [91]. - The company conducted a materiality assessment to gather stakeholder opinions on ESG issues, prioritizing significant topics for sustainable development [91]. - The company has adopted comprehensive policies for corporate social responsibility, guiding its operational decisions [91]. Financial Performance - The total revenue for the group in 2022 was approximately HKD 2,706,963,000, compared to HKD 1,224,263,000 in 2021, representing an increase of about 121.5% [33]. - The company’s distributable reserves as of December 31, 2022, were HKD 712,000,000, down from HKD 1,338,300,000 in 2021 [74]. - The group reported a total impairment loss of approximately HKD 427 million for development properties and completed properties for sale as of December 31, 2022 [193]. - The group's property sales revenue for the year ended December 31, 2022, was approximately HKD 2,681 million, with about HKD 757 million recognized over a period of time [191]. - The group’s financial statements were prepared in accordance with the Hong Kong Financial Reporting Standards and reflect a true and fair view of the group's financial position as of December 31, 2022 [199]. Environmental Impact and Sustainability - The greenhouse gas emissions density decreased by approximately 44.19% in 2022 compared to 2021, attributed to various factors including changes in emission factors and effective implementation of measures [32]. - The total direct energy consumption in mainland China for 2022 was 2,907.41 kWh, while the total indirect energy consumption was 8,875,470.86 kWh, leading to a total energy consumption of 8,878,378.27 kWh [39]. - The waste management strategy includes a focus on reducing hazardous waste, with the group ensuring that all contractors legally handle and dispose of waste [34]. - The group aims to minimize the environmental impact of its operations by implementing various green practices, including the use of online meetings to reduce unnecessary travel [31]. - The total harmless waste generated in Hong Kong in 2022 was 1.18 tons, with a waste density of 0.08 tons per employee [36]. - The group has set specific guidelines to manage its environmental impact, focusing on emissions, resource use, and climate change [31]. - The group emphasizes water conservation, with efforts to minimize unnecessary water consumption in its operations [37]. - The group actively monitors contractor emissions and requires compliance with its emission control measures [32]. - The group continues to seek effective water-saving methods and prioritizes water conservation in its operations [39]. - Total water consumption in mainland China for 2022 was 409,654.83 cubic meters, a slight decrease from 409,746.98 cubic meters in 2021 [41]. - Water consumption density per employee in mainland China was 6,024.34 cubic meters, compared to 4,936.71 cubic meters in 2021, indicating an increase [41]. - The total harmless waste density decreased by approximately 60.00% in 2022 compared to 2021, attributed to various factors including project nature and effective waste management measures [64]. - The company aims to continue monitoring and improving its greenhouse gas emissions and environmental sustainability measures [46]. - The company plans to adopt measures to encourage water conservation, including installing infrared sensor faucets and regular checks of water supply systems [69]. Community Engagement and Social Responsibility - The group has established a community investment policy to support sustainable community development through donations and sponsorships, with continued support for local charitable initiatives in 2022 [138]. - The group is focused on enhancing its community engagement efforts to better meet local needs and contribute to social welfare, education, health, and culture [138]. - The company did not make any charitable donations in 2022, consistent with 2021 [75]. Risk Management and Compliance - The company is actively monitoring financial risks and external factors affecting its operations, including environmental and social risks [90]. - The company has implemented a whistleblowing procedure for employees to report misconduct confidentially, ensuring accountability and transparency [89]. - The group has established a robust governance framework to ensure compliance with relevant laws and regulations, including those related to product quality and construction [132]. - The independent non-executive directors confirmed their independence, and the company considers them to remain independent [195]. Shareholder Information and Corporate Structure - The company has a total of 167,772,000 shares with a beneficial ownership percentage of 20.98% held by Huang Yun [154]. - Joybeam Global, Ever Lead, and Hong Kong Petrochemical each hold 79,772,000 shares, representing 9.98% ownership [176]. - Zhang Songqiao has a controlled interest of 48,736,150 shares, accounting for 6.09% of the total [176]. - The company has not participated in any arrangements that would allow directors to benefit from purchasing shares or debentures of the company during the year [159]. - As of December 31, 2022, there were no undisclosed interests held by directors in any competitive business [163]. - The company maintains a mandatory provident fund retirement benefits scheme in Hong Kong and participates in a central pension plan for employees in mainland China [164]. - The company has not issued any options under the stock option plan during the year, and there are no unexercised options at the beginning or end of the year [175]. - The effective period for the stock options is until May 20, 2025 [158]. - The company has maintained the public float as required by the Listing Rules throughout the year [179]. - The group has implemented a compensation structure aimed at attracting and retaining talent, with no significant operational disruptions reported to date [141]. - The group has adopted a dividend policy to provide stable returns to shareholders while maintaining financial health for future investment opportunities [142]. - The group continues to explore investment opportunities to achieve sustainable growth while ensuring financial stability [142].

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的內容概不負責，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份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 渝 太 地 產 集 團 有 限 公 司* Y. T. REALTY GROUP LIMITED (於百慕達註冊成立之有限公司) (股份代號：00075) 2022年度業績公告 渝太地產集團有限公司(「本公司」)之董事會欣然宣佈本公司及其附屬公司(「本集團」)於截至 2022年12月31日止年度之綜合業績。審核委員會已經審閱本年度業績。 綜合損益表 截至2022年12月31日止年度 附註 2022 2021 港幣千元 港幣千元 收入 2, 3 出售物業 2,681,239 1,184,478 租金收入 25,543 38,811 利息收入 181 974 收入總額 2,706,963 1,224,263 銷售成本 (2,581,026) (792,600) 毛利 125,937 431,663 其他收入及盈利 9,976 6,459 其他支出及虧損 (2,567) (1,457) 銷售及推廣支出 (308, ...

Financial Performance - For the first half of 2022, the group's revenue decreased by 6.4% to HKD 509.7 million compared to HKD 544.3 million in the same period last year[9]. - The property sales value for the first half of 2022 was approximately HKD 1,840.9 million, down from HKD 4,297.5 million in 2021, with recognized revenue of HKD 497 million[12]. - The rental income from investment properties was HKD 12.7 million, a decrease of 48.2% from HKD 24.4 million in the previous year[14]. - The net loss attributable to shareholders for the first half of 2022 was HKD 73.9 million, an improvement from a loss of HKD 81.9 million in the same period last year[9]. - Total revenue for the six months ended June 30, 2022, was HKD 509,664,000, a decrease of 6.3% from HKD 544,263,000 in the same period of 2021[50]. - Property sales revenue was HKD 496,998,000, down 4.2% from HKD 518,857,000 year-on-year[50]. - The company reported a loss before tax of HKD 106,802,000, an improvement from a loss of HKD 131,200,000 in the same period last year[50]. - The loss attributable to equity holders of the company was HKD 73,901,000, compared to HKD 81,863,000 in the previous year[50]. - The basic and diluted loss per share was HKD 0.092, an improvement from HKD 0.102 in the same period of 2021[50]. - The total comprehensive loss for the period amounted to HKD 218,220,000, significantly higher than HKD 87,379,000 in the same period last year[52]. Assets and Liabilities - As of June 30, 2022, total assets less current liabilities amounted to HKD 4,851,401,000, an increase from HKD 4,800,078,000 in the previous year[57]. - Non-current assets, including property, plant, and equipment, totaled HKD 1,395,378,000, slightly down from HKD 1,411,689,000 in 2021[55]. - Current assets increased to HKD 17,088,701,000 from HKD 14,538,932,000, reflecting a growth of approximately 17.5%[55]. - Total liabilities increased to HKD 13,632,678,000 from HKD 11,150,543,000, indicating a growth of about 22.3%[55]. - The company's equity attributable to shareholders decreased to HKD 1,488,426,000 from HKD 1,635,789,000, a decline of about 9%[57]. - Total non-current liabilities rose to HKD 3,362,975,000 from HKD 3,164,289,000, representing an increase of approximately 6.3%[57]. Cash Flow and Financing - The group's cash and bank balances were HKD 764,900,000 as of June 30, 2022, down from HKD 1,675,400,000 at the end of 2021[23]. - Operating cash generated was HKD 957,588,000, a decrease of 34.8% from HKD 1,471,546,000 in the same period last year[62]. - Net cash from operating activities amounted to HKD 877,982,000, down 35.6% from HKD 1,364,914,000 year-on-year[62]. - Cash used in investing activities totaled HKD 164,270,000, compared to HKD 61,959,000 in the previous year, indicating a significant increase in investment outflows[62]. - Cash used in financing activities was HKD 1,400,296,000, a decrease of 8.5% from HKD 1,530,288,000 in the same period last year[62]. - The net decrease in cash and cash equivalents was HKD 686,584,000, compared to a decrease of HKD 227,333,000 in the previous year[62]. - The company reported a decrease in income tax paid to HKD 38,665,000 from HKD 45,671,000 in the previous year[62]. Investments and Acquisitions - The group completed the acquisition of Golden Honour Global Limited for HKD 230 million, which holds a 53.6% interest in a property development project in Sichuan, China[16]. - The group successfully acquired land use rights in Sichuan, China for RMB 241,970,000, covering an area of approximately 101,965.1 square meters[18]. - The company acquired a subsidiary for HKD 215,096,000 during the reporting period[62]. - The acquisition of investment properties amounted to approximately HKD 16,001,000, compared to HKD 15,112,000 in the same period of 2021[103]. Market Outlook and Strategy - The overall economic environment remains challenging, with ongoing geopolitical tensions affecting supply chains and inflationary pressures in major economies[8]. - The group maintains a cautious and proactive approach to managing operations and investments in a challenging economic environment[20]. - The group remains optimistic about the long-term economic outlook for the real estate market in mainland China[20]. Employee and Management - The group employed 98 staff members as of June 30, 2022, and provides various employee benefits including medical insurance and retirement plans[30]. - Total remuneration paid to key management personnel increased to HKD 3,116,000 in the first half of 2022, compared to HKD 2,542,000 in the same period of 2021[133]. - Short-term employee benefits for key management personnel rose to HKD 3,016,000 in the first half of 2022, compared to HKD 2,524,000 in the same period of 2021[133]. Dividends and Shareholder Returns - The group has no interim dividend recommendation for the six months ended June 30, 2022[31]. - The company did not engage in any share buybacks or repurchases during the reporting period[43]. - The company did not declare an interim dividend for the six months ended June 30, 2022, consistent with the previous year[102].

Financial Performance - For the year ended December 31, 2021, the group reported a net loss attributable to shareholders of HKD 121,000,000, compared to a net loss of HKD 134,300,000 for the year ended December 31, 2020, representing a 9.0% improvement in losses [8]. - The group's revenue increased by 328.0% to HKD 1,224,300,000 in 2021, up from HKD 286,100,000 in 2020 [15]. - Revenue from property sales rose by 400.6% to HKD 1,184,500,000 in 2021, compared to HKD 236,600,000 in 2020 [15]. - The group recorded a revaluation surplus of HKD 22,800,000 for its property portfolio in 2021, compared to a revaluation loss of HKD 19,000,000 in 2020 [16]. - The net asset value attributable to equity holders as of December 31, 2021, was HKD 1,675,000,000, down from HKD 1,766,600,000 as of December 31, 2020 [10]. - The group did not recommend the payment of a final dividend for the year ended December 31, 2021, consistent with no interim dividend declared in 2020 [9]. - The group’s loss per share for 2021 was HKD 0.151, an improvement from HKD 0.168 per share in 2020 [15]. Property Development - The group had three property projects under pre-sale in Sichuan Province, with a contract sales value of approximately HKD 6,850,300,000 in 2021, up from HKD 3,042,900,000 in 2020 [17]. - In 2021, the total contract sales value was RMB 5,682.3 million, with an average selling price of RMB 11,159 per square meter for the project in Sichuan Province [18]. - The company successfully acquired land use rights for two plots in Dazhou, Sichuan, for a total consideration of RMB 902.6 million, with the first plot covering approximately 97,465 square meters and the second plot approximately 132,963 square meters [22]. - The group expanded its property development business into mainland China through acquisitions, integrating existing property operations to capture long-term sustainable demand in the Chinese property market [151]. Rental and Financial Management - Rental income from investment properties decreased by 14.3% to HKD 38,800,000 in 2021, down from HKD 45,300,000 in 2020 [15]. - Financial management income fell by 76.6% to HKD 1,000,000 in 2021, compared to HKD 4,200,000 in 2020 [15]. - Rental income for the year was HKD 38.8 million, a decrease of approximately 14.3% compared to HKD 45.3 million in the previous year, primarily due to the sale of the property in the UK [20]. - Financial management revenue dropped by 76.6% to HKD 1 million in 2021 from HKD 4.2 million in 2020, mainly due to reduced bank interest and bond income [21]. Corporate Governance - The company emphasizes good corporate governance principles, focusing on effective board management and risk control systems to enhance performance [47]. - The board is responsible for reviewing corporate governance policies and practices annually, ensuring compliance with the Corporate Governance Code [49]. - The company aims to maintain a balance of power and authority between the board and management, ensuring shareholder interests are protected [50]. - The company has a commitment to continuous improvement in governance standards and processes [48]. - The board includes experienced independent non-executive directors, contributing to effective oversight and governance [44]. - The company provides training and professional development for directors and senior management to enhance governance practices [49]. Risk Management - The company has established a risk management framework that includes the board, audit committee, internal audit functions, and management to oversee the effectiveness of the risk management system [86]. - The board is committed to maintaining an appropriate and effective risk management and internal control system to protect shareholder investments and company assets [86]. - The board conducts regular meetings to review the group's operational and financial performance against established budgets and targets [76]. - The company has adopted procedures and internal controls to regulate the handling and disclosure of inside information [91]. - The board is responsible for identifying and assessing risks, formulating appropriate risk management policies, and strategies [93]. Environmental, Social, and Governance (ESG) - The group has established a comprehensive corporate governance framework to effectively communicate its environmental, social, and governance (ESG) strategies, with the board responsible for reviewing and approving ESG policies and performance [152]. - In 2021, the group set new greenhouse gas emission targets as part of its roadmap for operational decarbonization, demonstrating its commitment to environmental protection [156]. - The company has committed to enhancing low-carbon transformation and sustainable development practices in response to climate change challenges [156]. - The company aims to enhance stakeholder awareness regarding environmental protection and sustainability efforts [168]. - The company has established a stakeholder engagement strategy to understand expectations and assess the effectiveness of its sustainability measures [162]. Employee Management - The group had 96 employees as of December 31, 2021, and regularly reviews employee compensation, offering benefits such as medical insurance and retirement plans [37]. - The company provides comprehensive compensation and benefits, training opportunities, and equal employment opportunities to employees [200]. - The company reviews and adjusts compensation annually to ensure alignment with performance and shareholder interests [200]. - The company has a total of 98 employees as of December 31, 2021, with 12 based in Hong Kong and 86 in mainland China [175]. Climate Change and Sustainability - The company has identified extreme weather events as a climate-related risk that could significantly impact operations, particularly in Sichuan due to increased rainfall [198]. - The company anticipates increased operational costs due to stricter environmental policies aimed at achieving carbon reduction and net-zero targets [199]. - The company is committed to improving its environmental sustainability by annually disclosing greenhouse gas emissions and assessing the effectiveness of current measures [199]. - The company has implemented measures to monitor contractors' emissions and ensure compliance with emission control measures [173]. - The company encourages the use of public transportation for employees and promotes online meetings to reduce unnecessary travel [173].

Revenue Performance - For the first half of 2021, the total revenue of the company increased by 2087.3% to HKD 544,300,000 compared to HKD 24,900,000 in the same period last year[11]. - The revenue from property sales amounted to HKD 518,900,000, while rental income from investment properties was HKD 24,400,000, representing a 10.4% increase from HKD 22,100,000 in the previous year[11][17]. - Total revenue for the six months ended June 30, 2021, was HKD 544,263,000, a significant increase from HKD 24,883,000 in the same period of 2020[57]. - Property sales contributed HKD 518,857,000 to the total revenue, with rental income at HKD 24,432,000, compared to HKD 22,125,000 in 2020[57]. - For the six months ending June 30, 2021, the company reported segment revenues of HKD 24,432,000 from property investment, HKD 518,857,000 from property development and sales, and HKD 974,000 from financial management, totaling HKD 544,263,000[97]. Financial Losses - The net loss attributable to shareholders for the first half of 2021 was HKD 81,900,000, compared to a loss of HKD 43,200,000 in the same period last year, with a loss per share of HKD 0.102[14]. - The company reported a loss before tax of HKD 131,200,000, compared to a loss of HKD 46,139,000 in the previous year[57]. - The net loss for the period was HKD 111,258,000, with a loss attributable to equity holders of the company amounting to HKD 81,863,000[57]. - The company reported a significant increase in development properties to HKD 9,241,833,000 from HKD 8,104,321,000, suggesting ongoing expansion in property development[62]. - The basic loss attributable to ordinary shareholders for the six months ended June 30, 2021, was HKD 81,863,000, compared to a loss of HKD 43,190,000 for the same period in 2020, representing an increase in loss of approximately 89%[117]. Asset and Liability Management - The company’s net borrowings as of June 30, 2021, were HKD 1,646,800,000, a decrease from HKD 2,723,700,000 as of December 31, 2020, with a capital to debt ratio of 96.4%[29]. - As of June 30, 2021, the total borrowings amounted to HKD 2,522,800,000, down from HKD 3,811,900,000 as of December 31, 2020, with approximately 65.7% denominated in RMB and 34.3% in HKD[30]. - The company’s equity attributable to shareholders decreased to HKD 1,690,449,000 from HKD 1,775,427,000, indicating a decline in shareholder equity[64]. - Total assets less current liabilities decreased to HKD 4,385,935,000 as of June 30, 2021, down from HKD 6,021,560,000 at the end of 2020, showing a decline in net asset value[64]. - The total value of interest-bearing bank and other borrowings as of June 30, 2021, was HKD 2,522,764,000, down from HKD 3,811,881,000 as of December 31, 2020, indicating a reduction of approximately 34%[129]. Cash Flow and Liquidity - The company’s cash and cash equivalents, including restricted bank balances, were HKD 876,000,000 as of June 30, 2021, down from HKD 1,088,200,000 as of December 31, 2020, with approximately 90.6% in RMB[29]. - Operating cash generated amounted to HKD 1,471,546, a significant increase from HKD 43,029 in the previous year, representing a growth of approximately 3,328%[70]. - Net cash from operating activities reached HKD 1,364,914, compared to HKD 40,641 in the same period last year, indicating a substantial increase[70]. - The cash and cash equivalents balance decreased to HKD 475,639 from HKD 2,057,331, reflecting a decline of approximately 77%[70]. - The company had cash and bank balances of HKD 475,639, down from HKD 1,157,331, reflecting a decrease in liquidity[70]. Investment and Development Activities - The company successfully acquired land use rights for two plots in Dazhou, Sichuan, for a total consideration of RMB 902,607,000, with the first plot covering approximately 97,465 square meters and the second plot approximately 132,963 square meters[22]. - The company acquired development properties and land use rights amounting to approximately HKD 1,257,966,000 during the six months ended June 30, 2021, compared to HKD 1,333,173,000 in the same period of 2020[123]. - The company reported a significant increase in development properties to HKD 9,241,833,000 from HKD 8,104,321,000, suggesting ongoing expansion in property development[62]. - The company’s financing costs for the property development and sales segment were HKD 67,760,000, impacting overall financial performance[97]. - The company remains optimistic about the long-term economic outlook in China and the real estate market, planning to continue expanding its real estate business in China[28]. Corporate Governance and Compliance - The company maintained compliance with the Corporate Governance Code, with some deviations noted regarding the roles of the chairman and CEO[47]. - The company plans to continue reviewing its board structure to ensure a balance of power and authority between the board and management[47]. - The company did not engage in any share buybacks, sales, or redemptions during the reporting period[50]. - No share options were granted, exercised, or cancelled under the share option scheme during the reporting period[42]. - The interim financial information was approved by the board of directors on August 23, 2021[157].

Financial Performance - The net loss attributable to shareholders for the year ended December 31, 2020, was HKD 134.3 million, compared to a profit of HKD 83.8 million for the year ended December 31, 2019, representing a significant decline [8]. - The total rental income for the year was HKD 45.3 million, a slight decrease of approximately 0.6% from HKD 45.5 million in the previous year, primarily due to a decline in the GBP exchange rate [16]. - The group recorded a revaluation loss of HKD 19 million on its property portfolio, compared to a revaluation gain of HKD 56.3 million in 2019 [15]. - The financial management business revenue decreased by 44.5% to HKD 4.2 million in 2020, down from HKD 7.5 million in 2019, mainly due to reduced bank interest income [17]. - The group did not recommend a final dividend for the year ended December 31, 2020, compared to a dividend of HKD 0.01 per share in 2019 [9]. Market Conditions - The unemployment rate in Hong Kong rose to over 6% by the end of 2020, with local GDP declining by approximately 6% due to the impact of the COVID-19 pandemic [14]. - The group faced significant pressure in the commercial real estate market, particularly in retail, leading to a notable decline in rental values and increased vacancy rates [14]. - The group’s business activities were severely impacted by the COVID-19 pandemic, with many countries implementing lockdown measures that reduced commercial activities [11]. Real Estate Expansion - In 2020, the company expanded its real estate business by acquiring 4 property projects in mainland China, with a total contract sales value of approximately HKD 3,042,900,000 and recognized revenue of HKD 236,600,000 [19]. - The contract sales details for 2020 include two projects in Sichuan Province, with sales values of RMB 1,237,889,000 for Binjiang Ruicheng and RMB 1,804,961,000 for Binjiang Licheng, translating to average prices of RMB 11,032 and RMB 8,644 per square meter respectively [20]. - The company completed the acquisition of Prime Circle Global Limited for a total consideration of HKD 350,000,000, gaining an 80% interest in a property development project in Sichuan Province [21]. - The company also acquired Great Giant Investment Limited for HKD 30,000,000, obtaining a 67% interest in another property development project in Sichuan Province [21]. Financial Position - As of December 31, 2020, the company's net borrowings amounted to HKD 2,723,700,000, with a capital to debt ratio of 154.2% [22]. - The total borrowings were HKD 3,811,900,000, with approximately 70.8% denominated in RMB and 29.2% in HKD [22]. - The company provided financial guarantees amounting to HKD 1,499,600,000 for mortgage loans related to certain buyers of its properties in mainland China [26]. Corporate Governance - The company has maintained a commitment to good corporate governance principles, emphasizing effective board management and robust risk management systems [43]. - The board has reviewed its corporate governance policies and practices annually, ensuring compliance with the Corporate Governance Code [45]. - The company has experienced a significant leadership structure, with the chairman also serving as the managing director, which the board believes promotes effective execution of business strategies [45]. - The company has not established formal appointment letters for directors, which deviates from the Corporate Governance Code, but ensures compliance with applicable laws and regulations [46]. - The board consists of experienced members, including three independent non-executive directors, ensuring a balanced distribution of power and authority [45]. Risk Management - The board has established a risk management framework to protect shareholder investments and company assets [79]. - The board evaluates and determines the nature and scope of risks faced in achieving the company's strategic objectives [79]. - The company emphasizes the importance of maintaining effective risk management systems and regularly evaluates their performance with the audit committee [83]. - The risk management process includes identifying risk factors, analyzing risk levels, and assessing their impact on business performance, with a commitment to review risks at least annually [83]. Environmental Responsibility - The company is committed to sustainable development and reducing environmental impact through the 3R principles: Reduce, Recycle, and Reuse [141]. - The company actively participates in environmental programs and initiatives to reduce carbon emissions and improve energy efficiency [142]. - Total greenhouse gas emissions for 2020 were 11.30 tons, a decrease of 6.9% from 2019's 12.14 tons [151]. - The company has implemented measures to reduce emissions, including encouraging public transport use and optimizing air conditioning settings [153]. - The company promotes the use of digital communication to reduce paper consumption and encourages recycling initiatives [153]. Employee Welfare - The company maintains a strong commitment to employee welfare, providing comprehensive compensation and benefits, including medical insurance and retirement plans [176]. - There were no reported violations of employment laws affecting the company during the year [177]. - The company has established health and safety measures to ensure a safe working environment, with no reported violations during the year [178]. - The group has not violated any significant labor laws regarding child labor or forced labor during the year [181]. Community Engagement - The group actively participates in community investment through donations to education, charity, sports, and cultural initiatives [187]. - The group encourages employee participation in volunteer work and charitable events to enhance social responsibility awareness [187]. - The group has established a corporate social responsibility policy to minimize the environmental impact of its business activities [193].