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聯合公告的內容 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 聯合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。 本 聯 合 公 告 僅 供 參 考，並 不 構 成 收 購、購 買 或 認 購 中 國 新 經 濟 投 資 有 限 公 司 證 券 之 邀 請 或 要 約，亦 不 構 成 在 任 何 司 法 權 區 徵 求 任 何 投 票 或 批 准。倘 構 成 違 反 任 何 司 法 權 區 的 相 關 法 律，則 本 聯 合 公 告 不 得 於、向 或 從 該 司 法 權 區 發 佈、刊 發 或 派 發。 LONGLING CAPITAL LTD （於 英 屬 處 女 群 島 註 冊 成 立 之 有 限 公 司） CHINA NEW ECONOMY FUND LIMITED （ 於開曼群島註冊成立的獲豁免有限公司 （股份代號：80） 中國新經濟投資有限公司 聯合公告 寄發有關 代 表LONGLING CAPITAL LTD提出之 強制性無條件現 ...

Hong Kong Exchanges and Clearing Limited, The Stock Exchange of Hong Kong Limited and Hong Kong Securities Clearing Company Limited take no responsibility for the contents of this PINK Form of Option Offer Acceptance, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this PINK Form of Option Offer Acceptance. 香港交易及結算所有限公司、香港聯合交易所有限公司及香港中央結算有限公司對本粉紅色購股權要約接納表 ...

Hong Kong Exchanges and Clearing Limited, The Stock Exchange of Hong Kong Limited and Hong Kong Securities Clearing Company Limited take no responsibility for the contents of this WHITE Form of Share Offer Acceptance, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this WHITE Form of Share Offer Acceptance. 香港交易及結算所有限公司、香港聯合交易所有限公司及香港中央結算有限公司對本白色股份要約接納表格之 ...

此乃要件 請即處理 閣下如對要約、本綜合文件及╱或隨附接納表格的任何方面或將採取的行動有任何疑問，應諮詢持牌證券交易商或註冊 證券機構、銀行經理、律師、專業會計師或其他專業顧問。 閣下如已售出或轉讓名下所有中國新經濟投資有限公司的股份，應立即將本綜合文件及隨附接納表格送交買主或承讓人 或經手買賣或轉讓的銀行、持牌證券交易商或註冊證券機構或其他代理商，以便轉交買主或承讓人。 香港交易及結算所有限公司、香港中央結算有限公司及香港聯合交易所有限公司對本綜合文件及隨附接納表格的內容概 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，概不就因本綜合文件及隨附接納表格全部或任何部分內 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。 （ 於開曼群島註冊成立的獲豁免有限公司 ） （股份代號：80） CHINA NEW ECONOMY FUND LIMITED 中國新經濟投資有限公司 本綜合文件應連同隨附接納表格一併閱讀，其內容構成要約條款及條件的一部分。 LONGLING CAPITAL LTD （於英屬處女群島註冊成立之有限公司） 有關 代表LONGLING CAPITAL LTD提出之 強制性無條件現金要 ...

资本转场：连续收购港股上市公司 近日，美图公司(01357.HK)创始人，泉州人蔡文胜在香港资本市场频频出击。 7月17日，香港上市公司中国新经济(00080.HK)公布公告称，获蔡文胜提出以每股0.106港元，向中国新经济的5名卖方收购逾6.69亿股，共约50.71%股权， 涉资共多达7093.24万港元。 | | 緊接買賣協議完成前 | | 繁隨買賣協議完成後 | | | --- | --- | --- | --- | --- | | | 股份數目 | 概約% | 股份數目 | 概約% | | 賣方 | | | | | | 賣方A | 45.485,000 | 3.45 | | | | 賣方B | 315.000.000 | 23.87 | - | | | 賣 方C | 61.150,000 | 4.63 | - | | | 賣方D | 129,640,000 | 9.82 | - | | | 賣 方E | 117.898.595 | 8.93 | | | | 要約人及其一致 | | | | | | 行動人士(附註2) | | | | | | | | | 669.173.595 | | | | | | ( ...

Company Overview - China New Economy Investment Limited is a closed-end fund investment company registered in the Cayman Islands on February 1, 2010, and listed on the Hong Kong Stock Exchange on January 6, 2011, under stock code 00080 [2] Financial Performance - As of December 31, 2024, China New Economy Investment reported total revenue of 703,700 HKD, representing a year-on-year increase of 501.49% [1] - The company recorded a net profit attributable to shareholders of -26,835,300 HKD, showing a year-on-year growth of 44.74% [1] - The asset-liability ratio stands at 6.54% [1] Stock Performance - On July 18, the Hang Seng Index rose by 1.33%, closing at 24,825.66 points, while China New Economy Investment's stock price increased by 394.38% to 0.44 HKD per share, with a trading volume of 242 million shares and a turnover of 116 million HKD [1] - Over the past month, the stock has seen a cumulative increase of 41.27%, but it has a year-to-date decline of 1.11%, underperforming the Hang Seng Index by 22.13% [1] Valuation Metrics - The average price-to-earnings (P/E) ratio for the other financial industry is 12.07 times, with a median of -0.2 times [1] - China New Economy Investment has a P/E ratio of -4.05 times, ranking 130th in the industry [1] - Comparatively, other financial companies have the following P/E ratios: China Merchants China Fund at 2.62 times, Weixin Financial at 3.6 times, Hong Kong Credit at 3.77 times, Guoyin Financial Leasing at 4.5 times, and Zhongguancun Technology Leasing at 4.64 times [1]

Core Viewpoint - Cai Wensheng has acquired controlling stakes in two Hong Kong-listed companies within a month, indicating a strategic move to expand his investment portfolio in the financial sector and technology industries [2][5]. Group 1: Acquisition Details - On July 18, China New Economy Investment (00080.HK) saw its stock price surge nearly 700% to a peak of HKD 0.70 per share, compared to HKD 0.089 before suspension [2]. - Cai Wensheng proposed to acquire over 669 million shares, approximately 50.71% of the equity, at HKD 0.106 per share, totaling over HKD 70 million [2]. - The acquisition price represents a premium of about 19.1% over the last closing price, triggering a mandatory general offer for the remaining shares at a cost of HKD 69.38 million [2]. Group 2: Future Investment Plans - China New Economy Investment plans to invest in licensed wealth management companies, focusing on regulated activities under the Securities and Futures Ordinance, including securities advice and asset management [3]. - The company aims to diversify its investment portfolio by engaging in global financial markets, bonds, and financial derivatives [3]. - Cai Wensheng intends to attract strategic investors to collaborate on investments in technology incubation enterprises in Hong Kong and mainland China, particularly in artificial intelligence and Web3 sectors [4]. Group 3: Background on Cai Wensheng - Cai Wensheng, a prominent figure born in the 1970s, gained initial wealth through domain trading and has made angel investments in various successful projects [5]. - He has been appointed as a non-official member of the Hong Kong government's task force to promote Web3 development, effective from July 1, 2025 [5].

Financial Performance - The Company reported a net loss attributable to shareholders of HK$28,978,531 for the year ended December 31, 2024, primarily due to a net change in fair value loss of HK$17,515,762 on investment positions in the portfolio[13]. - As of December 31, 2024, the audited net asset value per share was approximately HK$0.05, reflecting the impact of market volatility on financial assets[14]. - The investment performance was adversely affected by significant economic challenges in the Chinese economy and increasing political risks in the Hong Kong and China stock markets[14]. - The Company reported a market value of HK$6,627,000 for its investment in Gransing Financial Group Limited, with a cost of HK$46,377,000, resulting in an unrealized loss of HK$39,750,000[30]. - The Company’s investment in Strong Petrochemical Holdings Limited was valued at HK$10,000,000 as of December 31, 2024[30]. - The total remuneration cost incurred by the Company for the Year was approximately HK$2,738,910, a decrease from HK$4,132,184 in the previous year[67][72]. - The Company had no capital expenditure or commitments as of December 31, 2024[58][63]. - There were no significant contingent liabilities as of December 31, 2024[51][55]. - The Company held six investments as of December 31, 2024, with the largest investment in the financial printing sector focusing on the Hong Kong IPO market[60][65]. - The Company aims to maximize returns for shareholders by focusing on Greater China and other significant global markets[23]. Market Overview - The Chinese GDP for 2024 reached RMB134,908.4 billion, representing a 5.0% increase compared to the previous year, with quarterly growth rates of 5.3%, 4.7%, 4.6%, and 5.4% respectively[18]. - The Hang Seng Index increased by 17.7% in 2024, while the Hang Seng China Enterprises Index surged by 26.4%, indicating strong performance in the Chinese enterprises sector[19]. - The U.S. Federal Reserve cut the federal funds rate by 25 basis points in December 2024, bringing it to a range of 4.25%–4.5%, influencing market expectations[17]. - The prolonged period of high interest rates in the U.S. presented further economic challenges, impacting the performance of the Hong Kong stock market[17]. - Recent policy measures in China showed signs of stabilization in the property market, with home sales picking up towards the end of 2024[17]. Investment Strategy - The Company maintained a medium to long-term investment strategy, holding one investment in a Hong Kong-listed company and three investments in private equity securities as of year-end[13]. - The Company invested in one listed company, two funds, and three private equity securities, reflecting a diversified investment strategy[24]. - The Company remains vigilant in seeking additional investment opportunities, including unlisted investments, to enhance value for investors and shareholders[24]. - The Company’s investment strategy emphasizes short to medium-term investments in listed securities while maintaining a commitment to long-term investments in private equity[22]. Corporate Governance - The Company is focused on compliance with regulatory requirements regarding share registration and corporate governance[78]. - The board's composition reflects a strategic approach to leverage expertise in financial management and corporate governance[83]. - The Company has complied with all applicable code provisions set out in the Corporate Governance Code during the year[195]. - The Company has arranged appropriate directors' and officers' liabilities insurance coverage during the year[128]. - The Company has not entered into any management contracts with individuals or firms to manage its business, except for the disclosed Investment Management Agreement[136]. Shareholder Information - The Directors do not recommend the payment of any final dividend for the Year[50]. - The Company has not commenced any operation or business prior to the Listing Date[98]. - The Company has not entered into any equity-linked agreements during the year, nor were there any subsisting agreements at the end of the year[121]. - The Company has not entered into any arrangements that would allow its Directors or their family members to benefit from purchasing shares or debentures of the Company[143]. - As of December 31, 2024, the company had 1,319,700,274 issued shares[163]. Related Party Transactions - The Company has a continuing connected transaction with the custodian as defined under Chapter 14A of the Listing Rules[168]. - The Investment Manager is considered a connected person under Rule 14A.08 of the Listing Rules, due to the involvement of Mr. Chan Cheong Yee, an executive Director[182]. - The auditor has issued an unqualified letter regarding the Company's continuing connected transactions, confirming compliance with the Listing Rules[184]. Directors and Management - Mr. Chan Cheong Yee has been an executive director since June 1, 2013, and is licensed for type 4 and type 9 regulated activities under the SFO[79]. - Mr. Chen Shengjie has been appointed as a non-executive director and chairman since October 16, 2024, with over 30 years of experience in accounting and financial affairs[83]. - The company has a diverse board with members experienced in various sectors, including finance, real estate, and media[83][85][86].

Financial Performance - For the fiscal year ending December 31, 2024, the company reported revenue of HKD 759,920, an increase from HKD 126,339 in 2023, representing a growth of approximately 500%[3] - The net loss attributable to ordinary equity holders for the year was HKD 28,978,531, a significant reduction from HKD 52,436,843 in the previous year, indicating an improvement of about 44.7%[3] - The company's operating loss decreased to HKD 28,821,578 from HKD 52,254,603, reflecting a reduction of approximately 44.8% year-over-year[3] - The company incurred a total loss before tax of HKD 28,978,531 for the fiscal year ending December 31, 2024, a decrease from a loss of HKD 52,436,843 in the previous year, indicating an improvement of 44.73%[14] - The net loss from financial assets measured at fair value through profit or loss was HKD 3,541,193 for the year 2024, significantly lower than the previous year's loss of HKD 59,123,751[18] Assets and Liabilities - Total current assets increased to HKD 93,623,662 in 2024 from HKD 64,935,138 in 2023, marking a growth of about 44%[4] - The company reported total liabilities of HKD 4,257,563 in 2024, down from HKD 5,207,358 in 2023, showing a decrease of about 18.2%[4] - The company's total assets as of December 31, 2024, amounted to HKD 65,116,985, a decrease from HKD 95,243,209 in the previous year, reflecting a decline of 31.63%[16] - The total liabilities as of December 31, 2024, were HKD 4,257,563, down from HKD 5,405,256 in the previous year, indicating a reduction of 21.14%[16] - As of December 31, 2024, the company had no significant or contingent liabilities[50] Investment Strategy - The company aims to invest in global enterprises that provide products or services supported by the economies of Mainland China, Hong Kong, Macau, and Taiwan[5] - The company plans to maintain a long-term investment strategy focusing on the Hong Kong IPO market as a key investment area[27] - The company focuses on short to medium-term investments in listed securities and is committed to exploring high-potential investment opportunities[31] - The company maintains a diversified investment strategy, including private equity and other non-listed assets to reduce risk and potentially achieve higher returns in the long term[31] - The company is vigilant in seeking more investment opportunities, including non-listed investments, to enhance value for investors and shareholders[31] Operational Changes - The company has transitioned its investment management to a new manager effective October 4, 2024, which is expected to have no significant impact on operations[6] - The company is actively enhancing its services through artificial intelligence technology, targeting new customers in Hong Kong and mainland China[44] - The company is focused on expanding its operations in the oil and natural gas development and production sectors[44] Employee and Administrative Costs - The company’s employee costs (excluding directors' remuneration) decreased to HKD 2,738,910 in 2024 from HKD 4,132,184 in 2023, a reduction of 33.73%[19] - The company's administrative expenses for the year amounted to HKD 412,677, slightly down from HKD 413,182 in 2023[20] - The investment management fee for the year was HKD 454,839, a decrease from HKD 600,000 in 2023, indicating a 24.2% reduction[22] Market Conditions - The Hang Seng Index increased by 17.7% over the year, while the Hang Seng China Enterprises Index surged by 26.4%, reflecting strong performance in Chinese enterprises[30] - The Chinese economy faced significant challenges, with GDP growth of 5.0% in 2024, indicating ongoing adjustments and challenges in the market[29] - The U.S. Federal Reserve adjusted the federal funds rate to a range of 4.25% to 4.5% by the end of 2024, following a series of interest rate changes throughout the year[30] Investment Performance - The company recorded a realized gain of HKD 105,000 from China New Consumption Group Limited this year[45] - The top three realized gains this year include HKD 554,000 from Taste Holdings Limited, HKD 373,000 from Hengwei Group Holdings Limited, and HKD 296,000 from Stone One Limited Partnership Fund[46] Shareholder Returns - The company will not recommend any final dividend for the year 2024[48] Employment and Workforce - The company had five full-time employees as of December 31, 2024, down from eight in 2023[58]

[Corporate Information](index=2&type=section&id=Corporate%20Information) This section provides details on the company's core governance structure and key external partners [Corporate Information](index=2&type=section&id=Corporate%20Information) This chapter details the company's core governance structure and key external partners, including board members, committees, company secretary, investment manager, and auditor - The company's Board of Directors comprises executive, non-executive (including co-chairmen), and independent non-executive directors, with three core committees: Audit, Remuneration, and Nomination[3](index=3&type=chunk) - Key external partners include **Evergrande Securities (Hong Kong) Limited** as Investment Manager, **Elite Partners CPA Limited** as Auditor, and **Bank of Communications Trustee Limited** as Custodian[4](index=4&type=chunk)[5](index=5&type=chunk) [Management Discussion and Analysis](index=6&type=section&id=Management%20Discussion%20and%20Analysis) This section analyzes the company's financial performance, business operations, investment strategies, and liquidity [Financial Highlights](index=7&type=section&id=FINANCIAL%20HIGHLIGHTS) The company reported a net loss attributable to shareholders of HKD 12.73 million, primarily due to fair value losses on its investment portfolio 2024 H1 Key Financial Data | Indicator | Amount (HKD) | | :--- | :--- | | Net loss attributable to shareholders | 12,728,425 | | Net change in fair value loss on investment portfolio | 6,960,659 | | - Of which: Net realized loss | 716,493 | | - Of which: Net unrealized loss | 6,244,166 | | Unaudited net asset value per share | Approx. 0.06 | - The company's investment portfolio includes one Hong Kong-listed company, three private equity securities, one limited partnership fund, and one open-ended fund, with a significant investment in the financial printing sector focused on Hong Kong IPO markets[10](index=10&type=chunk) [Business Review and Prospect](index=8&type=section&id=BUSINESS%20REVIEW%20AND%20PROSPECT) The investment market faced challenges in H1 2024, but the company maintains its strategy of focusing on Greater China and diversifying through private equity and fund investments - The macroeconomic environment faces three major challenges: a slow recovery in China's real estate market, persistently high US interest rates, and uncertainties in US-China relations due to the upcoming US election[14](index=14&type=chunk)[15](index=15&type=chunk) - Despite challenges, China's GDP grew by **5.0%** year-on-year in H1 2024, indicating steady economic growth[16](index=16&type=chunk) - The company's strategic focus is on investing in high-potential listed companies in the short term, and achieving risk diversification and potentially higher returns through private equity and fund investments in the long term[20](index=20&type=chunk) [Investment Review](index=11&type=section&id=INVESTMENT%20REVIEW) As of June 30, 2024, the company's portfolio included one Hong Kong-listed equity, three private equities, and two funds, with iPro Financial Press Limited being the largest investment by asset percentage Overview of Major Investment Portfolio (As of June 30, 2024) | Investment Name | Type | Market Value (HKD '000) | % of Total Assets | | :--- | :--- | :--- | :--- | | iPro Financial Press Limited | Private Equity (Hong Kong) | 17,602 | 21.62 | | Goldstone 1 LPF | Fund (Hong Kong) | 11,032 | 13.55 | | Gransing Financial Group Limited | Private Equity (BVI) | 9,724 | 11.94 | | SWK Dynamic OFC | Fund (Hong Kong) | 8,657 | 10.63 | | Gransing Finance Limited | Private Equity (Hong Kong) | 8,103 | 9.95 | - During the reporting period, the two investments with the highest realized gains were China New Consumption Group and Savour of Asia Holdings; the three investments with the largest realized losses were Heng Wei Group Holdings Limited, Longcheer Financial Group, and SWK Dynamic OFC[37](index=37&type=chunk)[38](index=38&type=chunk) - Fair value assessment methods vary for each investment: listed equities are based on market quotes, private equities on independent valuations, and funds on net asset value calculations[34](index=34&type=chunk)[35](index=35&type=chunk)[36](index=36&type=chunk) [Liquidity, Financial Resources and Capital Management](index=20&type=section&id=LIQUIDITY%2C%20FINANCIAL%20RESOURCES%20AND%20GEARING) The company maintains sufficient cash for investment opportunities, with a gearing ratio of 0.74% and no interim dividend proposed Liquidity and Debt Status (As of June 30, 2024) | Indicator | Value | | :--- | :--- | | Gearing ratio | 0.74% (2023 year-end: 0) | | Margin payable to brokers | 570,118 HKD | | Annual margin interest rate | 9.625% | - The Board does not recommend the payment of any interim dividend for the period ended June 30, 2024[42](index=42&type=chunk)[44](index=44&type=chunk) - During the reporting period, the company did not undertake any equity fundraising activities, significant acquisitions or disposals, nor did it have any capital expenditure commitments[58](index=58&type=chunk)[62](index=62&type=chunk) - As of the period end, the company had nine full-time employees, with total staff costs of approximately **HKD 1.08 million**, a significant year-on-year decrease[63](index=63&type=chunk) [Other Information](index=28&type=section&id=Other%20Information) This section covers substantial shareholders' interests and the company's corporate governance practices [Substantial Shareholders' Interests](index=28&type=section&id=SUBSTANTIAL%20SHAREHOLDERS%27%20INTERESTS) As of June 30, 2024, no directors or chief executives held interests in the company's shares, with CAS International Investment Management Company Limited and its associates being the largest shareholder group - As of the end of the reporting period, the company's directors and chief executives did not hold any interests or short positions in the company's shares, underlying shares, or debentures[65](index=65&type=chunk) Major Shareholder Holdings (As of June 30, 2024) | Shareholder Name | Shareholding (%) | | :--- | :--- | | CAS International Investment and its associates | 23.87 | | Luo Yan | 14.46 | | Choi Koon Shum and his associates | 8.93 | | Wang Dingben | 5.18 | [Corporate Governance Practices](index=36&type=section&id=CORPORATE%20GOVERNANCE%20PRACTICES) The company complied with the Listing Rules' Corporate Governance Code during the reporting period, maintaining adequate public float and an independent audit committee - The company has applied and complied with the principles and provisions of the Corporate Governance Code[81](index=81&type=chunk) - The Audit Committee, comprising three independent non-executive directors, with the chairman possessing professional accounting qualifications, has reviewed the unaudited interim financial statements for this period[81](index=81&type=chunk)[83](index=83&type=chunk) - Based on public information and the directors' knowledge, the company consistently maintained the required public float during the six months ended June 30, 2024[84](index=84&type=chunk) [Interim Condensed Financial Statements](index=38&type=section&id=Interim%20Condensed%20Financial%20Statements) This section presents the unaudited interim condensed financial statements, including the statement of profit or loss, financial position, changes in equity, and cash flows, along with explanatory notes [Financial Statements Overview](index=39&type=section&id=Financial%20Statements%20Overview) This section presents the unaudited interim condensed financial statements for the six months ended June 30, 2024, including key statements and detailed notes on accounting policies and fair value measurements [Interim Condensed Statement of Profit or Loss and Other Comprehensive Income](index=39&type=section&id=Interim%20Condensed%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) The company reported a pre-tax loss of HKD 12.73 million in H1 2024, a reversal from last year's profit, primarily due to fair value losses on financial assets Profit or Loss Statement Key Metrics Comparison (For the six months ended June 30) | Indicator (HKD) | 2024 H1 (Unaudited) | 2023 H1 (Unaudited) | | :--- | :--- | :--- | | Revenue | 734,882 | 1,540 | | Net change in fair value of financial assets | (6,960,659) | 18,162,199 | | Operating (loss)/profit | (12,653,636) | 8,983,128 | | (Loss)/profit before tax | (12,728,425) | 8,918,936 | | Basic (loss)/earnings per share | (0.01) | 0.01 | [Interim Condensed Statement of Financial Position](index=40&type=section&id=Interim%20Condensed%20Statement%20of%20Financial%20Position) As of June 30, 2024, total assets decreased to HKD 81.99 million and net assets to HKD 77.11 million, mainly due to a reduction in financial assets measured at fair value Financial Position Statement Key Metrics Comparison | Indicator (HKD) | June 30, 2024 (Unaudited) | December 31, 2023 (Audited) | | :--- | :--- | :--- | | Total non-current assets | 727,388 | 1,619,547 | | Total current assets | 81,259,569 | 93,623,662 | | - Of which: Financial assets | 55,689,556 | 66,340,464 | | - Of which: Cash and cash equivalents | 15,881,075 | 17,309,428 | | Total current liabilities | 4,877,429 | 5,207,358 | | Net assets | 77,109,528 | 89,837,953 | | Net asset value per share | 0.06 | 0.07 | [Interim Condensed Statement of Cash Flows](index=42&type=section&id=Interim%20Condensed%20Statement%20of%20Cash%20Flows) In H1 2024, the company experienced a net cash outflow from operating activities of HKD 0.67 million and from financing activities of HKD 0.76 million, resulting in a net decrease in cash and cash equivalents of HKD 1.43 million Cash Flow Statement Key Metrics Comparison (For the six months ended June 30) | Indicator (HKD) | 2024 H1 (Unaudited) | 2023 H1 (Unaudited) | | :--- | :--- | :--- | | Net cash flow from operating activities | (670,249) | 164,437 | | Net cash flow used in financing activities | (758,104) | (511,680) | | Net decrease in cash and cash equivalents | (1,428,353) | (347,243) | | Cash and cash equivalents at period end | 15,881,075 | 27,483,089 | [Notes to Interim Condensed Financial Statements](index=45&type=section&id=Notes%20to%20Interim%20Condensed%20Financial%20Statements) The notes provide detailed explanations, including operating segments by investment type, revenue sources, and fair value hierarchy of financial assets - The company's operating segments are listed and unlisted securities, with the **unlisted securities segment** being the primary contributor to the overall investment loss this period[111](index=111&type=chunk) - Revenue for the period totaled **HKD 0.735 million**, with **HKD 0.704 million** derived from a profit guarantee income from a private equity investment[125](index=125&type=chunk) Financial Assets Fair Value Hierarchy (As of June 30, 2024) | Level | Description | Amount (HKD) | | :--- | :--- | :--- | | Level 1 | Quoted prices in active markets | 572,000 | | Level 2 | Observable inputs | 19,688,556 | | Level 3 | Unobservable inputs | 35,429,000 |