Financial Performance - For the six months ended June 30, 2024, the company reported a revenue of HKD 734,882, a significant decrease from HKD 1,540 million in the same period last year, representing a decline of approximately 99.95%[1] - The company incurred an operating loss of HKD 12,653,636 for the period, compared to an operating profit of HKD 8,983,128 in the previous year, indicating a shift in performance[1] - The net loss attributable to ordinary equity holders for the six months ended June 30, 2024, was HKD 12,728,425, compared to a profit of HKD 8,918,936 in the same period last year[3] - The company recorded a pre-tax loss of HKD 12,728,425 for the six months ended June 30, 2024, compared to a profit of HKD 8,918,936 for the same period in 2023[9][14] - The fair value changes of financial assets for the six months ended June 30, 2024, resulted in a total loss of HKD 6,960,659, compared to a profit of HKD 18,162,199 for the same period in 2023[13] - The company’s total unallocated expenses for the six months ended June 30, 2024, were HKD 5,798,237, compared to HKD 9,244,803 for the same period in 2023[9] - The company recorded a net loss attributable to shareholders of HKD 12,728,425 for the six months ended June 30, 2024, compared to a profit of HKD 8,918,936 for the same period in 2023[23] Assets and Liabilities - The company's total assets decreased to HKD 81,259,569 as of June 30, 2024, down from HKD 93,623,662 as of December 31, 2023, reflecting a decline of approximately 13%[4] - The net asset value per share decreased to HKD 0.06 as of June 30, 2024, compared to HKD 0.07 as of December 31, 2023[4] - Current liabilities totaled HKD 4,877,429 as of June 30, 2024, a slight decrease from HKD 5,207,358 as of December 31, 2023[4] - The company’s total assets as of June 30, 2024, amounted to HKD 81,986,957, with liabilities totaling HKD 4,877,429[10] - As of June 30, 2024, the company's debt-to-equity ratio was 0.74%, compared to zero on December 31, 2023[44] - The company has no significant contingent liabilities as of June 30, 2024, and had no capital expenditures or other commitments[47][48] Cash and Investments - The company’s cash and cash equivalents were reported at HKD 15,881,075 as of June 30, 2024, down from HKD 17,309,428 at the end of 2023[4] - The company held investments in one listed company and three private equity securities, along with one limited partnership fund and one open-ended fund as of June 30, 2024[29] - The company recorded realized gains of HKD 105,000 from China New Consumption Group Limited and HKD 22,000 from Taste Holdings Limited[43] - The company reported realized losses of HKD 373,000 from Hengwei Group Holdings Limited and HKD 255,000 from Long Cheng Financial Group Limited[44] - The company has pledged HKD 572,000 in listed securities as collateral for the payment of accountants' guarantee deposits[45] Investment Strategy and Market Conditions - The company’s investment activities are managed by Evergrande Securities (Hong Kong) Limited, focusing on long-term capital appreciation through investments in capable enterprises[5] - The investment performance was adversely affected by the slow recovery of the Chinese economy and increased volatility in the Greater China stock market[29] - The company aims to diversify investment risks through funds and private equity, targeting greater potential returns in the long term[31] - The company will continue to focus on investments related to China in major global markets, leveraging its expertise in investment and risk management[31] - The company is committed to identifying valuable investment opportunities to maximize returns for its shareholders[31] - The company’s investment strategy emphasizes the Greater China region and other major global markets[31] Operational Efficiency and Management - The company has adopted new and revised International Financial Reporting Standards effective from January 1, 2024, which did not have a significant impact on the financial statements[7] - The company incurred administrative fees of HKD 206,815 during the period, with a payable of HKD 68,880 due to the administrator by June 30, 2024[8] - The company reported a management fee of HKD 300,000 for the period, with a payable of HKD 100,000 due to the investment manager by June 30, 2024[19] - The total salary cost for the company during the period was approximately HKD 1,079,587, down from HKD 2,027,170 for the same period in 2023[50] - The company has nine full-time employees as of June 30, 2024, compared to eight on December 31, 2023[50] - The company reported a significant increase in operational efficiency due to the implementation of AI-driven services[41] Market Overview - In the first half of 2024, China's GDP increased to RMB 61,683.6 billion, a 5.0% rise compared to the first half of 2023[31] - The Hang Seng Index fell by 3.9% in the first half of 2024, while the Hang Seng China Enterprises Index rose by 9.8%[31] - The Federal Reserve has maintained interest rates between 5.25% and 5.50% since July 2023, with expectations of a potential rate cut in September 2024[31]

Financial Performance - The Company reported a net loss attributable to shareholders of HK$52,436,843 for the year ended 31 December 2023, which included a net change in fair value loss of HK$35,365,185 on investment positions in the portfolio[15]. - The audited net asset value per share was approximately HK$0.07 as of 31 December 2023[16]. - The net loss was primarily due to a net realized loss of HK$59,123,751, offset by a net unrealized gain of HK$23,758,566 on financial assets at fair value through profit or loss[16]. - The total remuneration cost incurred by the company for the year was approximately HK$4,132,184, an increase from HK$3,885,403 in the previous year[71][76]. - The Company has confirmed that it is not a party to the liquidation order of Jinshi Investment Group Limited, which has been appointed a provisional liquidator[88]. Investment Strategy and Portfolio - The Company maintains a medium to long-term investment strategy in both public and private equities[15]. - The Company is devoted to achieving long-term capital appreciation for professional investors through a diversified portfolio[14]. - The Company will continue to monitor its investments cautiously in light of recent uncertain market conditions[16]. - The Company believes that incorporating private equity into its portfolio will diversify investment risks and potentially yield greater returns in the long term[27]. - The Company plans to continue its investment strategy focused on Greater China and other major global markets[28]. Market Conditions - The investment performance was impacted by the slow recovery of the Chinese economy post-pandemic and increased volatility in the Greater China stock market[16]. - The Hang Seng Index decreased by 13.8% in 2023, while the Hang Seng Chinese Enterprises Index dropped by 14.0%[22]. - China's GDP in 2023 increased to RMB 126,058 billion, representing a 5.2% growth compared to 2022[21]. - The GDP growth for the first quarter of 2023 was 4.5%, accelerating to 6.3%, 4.9%, and 5.2% in the subsequent quarters[21]. Investment Holdings - As of 31 December 2023, the Company held four investments in Hong Kong-listed companies, three private equity securities investments, one limited partnership fund, and one open-ended fund[15]. - The Company held nine investments as of December 31, 2023, including four in Hong Kong-listed companies and three in private equity securities[31]. - One of the major investments is in the financial printing sector, focusing on the Hong Kong IPO market[15]. - The Company initiated a new investment in Tasty Concepts Holding Limited, which operates Japanese ramen restaurants, holding 6,600,000 shares[34]. Unrealized Gains and Losses - The total unrealized losses across the mentioned investments highlight the challenges faced in the current market environment[38][40][41][42]. - iPro Financial Press Limited reported a market value of HK$26.79 million with an unrealized loss of HK$8.21 million, representing a 30.63% decrease in value[44]. - Gransing Finance Limited's market value is HK$14.66 million, reflecting an unrealized loss of HK$2.22 million, which is a 13.36% decline[44]. - Help U Credit Finance Limited has a market value of HK$12.64 million with a total unrealized loss of HK$19 million, indicating a complete loss of investment value[44]. - The unrealized gains and losses recognized during the year reflect changes in fair value of investments, indicating market volatility[47]. Corporate Governance and Management - The company has appointed independent non-executive directors with extensive experience in financial analysis and compliance[102][105]. - The board believes that foreign exchange risks are minimal as the company primarily conducts transactions in Hong Kong dollars[72]. - The board of directors experienced changes, with several resignations and appointments throughout the year[126][131]. - The Company has not entered into any management contracts with individuals or firms to manage its business[149]. - The Company has not established any contracts for managing or supervising its business with any individual or entity[155]. Shareholder Information - The Company has a focus on strategic research, financial investment, and business collaboration in new energy and infrastructure sectors[105]. - The Company has a continuing connected transaction with the Investment Management Agreement during the Year[178]. - The Company has not entered into any significant contracts with directors or related entities that hold significant interests during the year[154]. - The Company has not been notified of any other persons with interests or short positions in its shares, apart from the Directors and chief executive[175]. - The Company has adopted a share option scheme to incentivize eligible participants since June 1, 2015[151].

Financial Performance - The company's revenue for the year ended December 31, 2023, was HKD 126,339, a significant decrease from HKD 3,116,109 in 2022, representing a decline of approximately 95.9%[3] - The net loss attributable to ordinary equity holders for the year was HKD 52,436,843, compared to a loss of HKD 52,745,075 in the previous year, indicating a slight improvement of 0.6%[3] - The company's operating loss for the year was HKD 52,254,603, which is a marginal improvement from the operating loss of HKD 52,650,558 in 2022, showing a reduction of about 0.8%[3] - The pre-tax loss for the company for the year ending December 31, 2023, was HKD 52,436,843, slightly improved from a loss of HKD 52,745,075 in 2022[12] - The company recorded a net loss attributable to shareholders of HKD 52,436,843 for the year, compared to a loss of HKD 52,745,075 in 2022[25] Assets and Liabilities - The total assets decreased from HKD 142,405,254 in 2022 to HKD 90,035,851 in 2023, reflecting a decline of approximately 36.8%[4] - The total assets as of December 31, 2023, amounted to HKD 95,243,209, down from HKD 149,407,330 in 2022, reflecting a decrease of approximately 36.2%[14] - The total current assets decreased from HKD 148,762,263 in 2022 to HKD 93,623,662 in 2023, a decline of about 37.1%[4] - The total liabilities as of December 31, 2023, were HKD 5,405,256, a decrease from HKD 7,132,534 in 2022, indicating a reduction of approximately 24.3%[14] Cash and Investments - The company's cash and cash equivalents decreased from HKD 27,830,332 in 2022 to HKD 17,309,428 in 2023, a reduction of about 37.8%[4] - The company’s investment activities are managed by Evergrande Securities (Hong Kong) Limited, focusing on long-term capital appreciation through investments in capable enterprises[5] - The company reported a realized loss of HKD 59,123,751 on financial assets measured at fair value through profit or loss for the year 2023, compared to a realized loss of HKD 11,246,814 in 2022[18] - The total fair value loss on financial assets recognized through profit or loss amounted to HKD 59,123,751, offset by unrealized gains of HKD 23,758,566[32] - The company holds nine investments as of December 31, 2023, including four listed companies in Hong Kong, three private equity securities, one limited partnership fund, and one open-ended fund[38] Employee Costs - The company incurred total employee costs (excluding directors' remuneration) of HKD 4,132,184 in 2023, up from HKD 3,885,403 in 2022, representing an increase of approximately 6.3%[20] - The total salary cost for the year was approximately HKD 4,132,184, compared to HKD 3,885,403 for the year ending December 31, 2022, reflecting an increase of about 6.35%[67] - As of December 31, 2023, the company had eight full-time employees, an increase from six full-time employees as of December 31, 2022[67] Investment Strategy - The company's investment strategy focuses on maintaining long-term investments in listed and private equity securities, with new investments made in a ramen restaurant operator during the year[36] - The company plans to continue seeking investment opportunities in high-potential listed companies and private equity securities to benefit its investors and shareholders[36] - The company aims to focus its investment strategy on the Greater China region and other major global markets[37] - The company is committed to maximizing shareholder returns through professional investment and risk management expertise[37] Governance and Compliance - The company has adopted most principles outlined in the Corporate Governance Code as of December 31, 2023, ensuring compliance throughout the year[69] - The Audit Committee, consisting of three independent non-executive directors, has held two meetings during the year to review financial performance and internal controls[72][73] - The company's auditor confirmed that the preliminary announcement of the company's performance for the year ending December 31, 2023, aligns with the amounts presented in the financial statements[74] Dividends and Fundraising - The company did not recommend any final dividend for the year, consistent with the previous year[57] - The company has not engaged in any equity fundraising activities during the year[61] Market Performance - The Hang Seng Index declined by 13.8% in 2023, while the Hang Seng China Enterprises Index fell by 14.0%[35]

Financial Performance - The Company reported a net gain attributable to shareholders of HK$8,918,936 during the Period, consisting of a net change in fair value gain of HK$18,162,199 on investment positions in the portfolio[18]. - Revenue for the six months ended June 30, 2023, was HK$1,540,000, a slight decrease of 0.1% compared to HK$1,542,376 for the same period in 2022[139]. - Operating profit for the period was HK$8,983,128, a significant improvement from an operating loss of HK$10,713,132 in the prior year[139]. - Profit before tax was HK$8,918,936, compared to a loss before tax of HK$10,735,153 for the same period last year[139]. - The company reported a profit of HK$8,918,936 for the six months ended June 30, 2023, compared to a loss of HK$10,735,153 for the same period in 2022, indicating a significant turnaround[146]. Investment Portfolio - As of 30 June 2023, the Company held three investments in Hong Kong-listed companies, five private equity securities investments, one limited partnership fund, and one open-ended fund[18]. - The company has newly invested in Kingland Group Holdings Limited, which provides concrete demolition services in Hong Kong and Macau, and will continue to seek further investment opportunities[30][33]. - During the period, the company invested in two funds and five private equities, aiming to diversify investment risks and potentially achieve greater long-term returns[31]. - The overall investment strategy emphasizes both listed and unlisted securities to maximize returns for shareholders[30][31]. - The company’s investments are primarily focused on private and public enterprises supported by the economies of Mainland China, Hong Kong, Macau, and Taiwan[152]. Market Conditions - The investment performance was affected by the slowdown in the Chinese economy and rising volatility in the global stock market post-pandemic[22]. - The first half of 2023 saw a global focus on restoring business activities, despite ongoing challenges such as U.S. interest rate hikes[23]. - The Hang Seng Index dropped by 4.4% in the first half of 2023, while the Hang Seng Chinese Enterprises Index fell by 4.2% during the same period[28][29]. - The U.S. Federal Reserve raised interest rates by 25 basis points in February, March, and May 2023, with current rates between 5% and 5.25%, and an expected increase to 5.5% to 5.75% by the end of 2023[28]. Asset Valuation - The unaudited net asset value per share was approximately HK$0.11 as of 30 June 2023, with a net unrealised gain of HK$33,541,773 offset by a net realised loss of HK$15,379,574 due to market volatility[22]. - The net unrealised gain on financial assets at fair value through profit or loss was HK$9,010,000 for listed securities and HK$24,531,773 for unlisted securities, totaling HK$33,541,773[189]. - The net realised loss on financial assets at fair value through profit or loss for the same period was HK$12,813,547 for listed securities and HK$2,566,027 for unlisted securities, totaling HK$15,379,574[189]. Shareholder Information - The Company’s largest shareholder, CAS International Investment Management Company Limited, holds 315,000,000 shares, representing approximately 23.87% of the issued share capital[114]. - The Company’s director, Wang Dingben, holds 68,330,000 shares, which is approximately 5.18% of the issued share capital[111]. - The Company has not purchased, sold, or redeemed any of its shares during the period[127]. Operational Efficiency - The total remuneration cost incurred by the Company for the period was approximately HK$2,027,170, a slight decrease from HK$2,080,766 for the same period in 2022[100][103]. - The company incurred finance costs of HK$64,192 for the six months ended June 30, 2023, compared to HK$22,021 in the previous year, indicating an increase in financing expenses[146]. - Gransing Financial Group Limited launched new services including online account opening and A.I. analyst services to enhance operational efficiency[63]. Corporate Governance - The company has complied with the Corporate Governance Code throughout the period[128]. - Changes in the board of directors include the appointment of two independent non-executive directors effective June 15, 2023[124]. - No arrangements were made for directors or their family members to acquire benefits through share acquisition during the period[120]. Future Outlook - The company will continue to monitor investments cautiously due to recent uncertain market conditions[22]. - The company continues to explore market expansion opportunities and new strategies to enhance its investment portfolio and overall performance[42]. - The company will maintain cost control measures and resource management to cope with economic volatility and potential challenges[57].

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。 CHINA NEW ECONOMY FUND LIMITED 中 國 新 經 濟 投 資 有 限 公 司 （於開曼群島註冊成立的獲豁免有限公司） （股份代號：80） 截 至2023年6月30日 止 六 個 月 之 中 期 業 績 公 告 未經審核中期業績 中國新經濟投資有限公司（「本公司」）之董事會（「董事會」或「董事」）欣然宣佈本 公 司 截 至2023年6月30日 止 六 個 月（「本 期 間」）之 未 經 審 核 中 期 業 績，連 同 截 至 2022年6月30日止六個月之未經審核數字。 中期簡明損益及其他全面收益表 截至2023年6月30日止六個月 截至2023年 截至2022年 6月30日止 6月30日止 六個月 六個月 （未經審核） （未經審核） 附註 港元 港元 收入 4 1,540 1,542,376 ...

Financial Performance - The Company reported a net loss attributable to shareholders of HK$52,745,075 for the year ended 31 December 2022, primarily due to a net change in fair value loss of HK$39,041,595 on investment positions[14]. - The audited net asset value per share was approximately HK$0.11 as of 31 December 2022[15]. - The investment performance was negatively impacted by a net unrealised loss of HK$27,794,781 and a net realised loss of HK$11,246,814 on financial assets at fair value through profit or loss[15]. - The total unrealized losses across the mentioned investments indicate a significant impact on the company's net asset value[35][38][41][42]. - The Company recorded a realised gain of HK$320,000 from Crater Gold Mining Limited, while the top realised losses included HK$10,046,000 from State Innovation Holdings Limited[65]. - The Company did not recommend any final dividend for the Year, consistent with the previous year[68]. - The Company raised approximately HK$74 million through a rights issue, with plans to allocate HK$62.9 million towards investments in funds and HK$11.1 million for general working capital[76][77]. - The Company had no capital expenditure or commitments as of December 31, 2022[79]. - The Company did not purchase, redeem, or sell any of its listed shares during the Year[78]. - There were no significant contingent liabilities as of December 31, 2022[69]. Investment Strategy - The Company maintained a long-term investment strategy in both public and private equities throughout the year[14]. - The Company aims to diversify investment risks and enhance long-term returns through various investment strategies[27]. - The Company plans to continue focusing on Greater China and other major global markets for investment opportunities[28]. - The Company plans to monitor investments cautiously due to recent uncertain market conditions[15]. - The company invested in Hanvey Group Holdings Limited, focusing on enhancing product design and development capabilities[26]. - The company also invested in two new funds: Goldstone 1 LPF and SWK Dynamic OFC, targeting capital appreciation and the Hong Kong and China equity markets[27]. - The company continues to explore market expansion opportunities and new product developments to enhance future performance[39]. - The management remains focused on strategic investments and potential acquisitions to strengthen its market position[39]. Economic Overview - China's GDP increased to RMB121,021 billion in 2022, representing a growth of 3.0% compared to 2021[20]. - The GDP growth rate for the first quarter of 2022 was 4.8%, which slowed to 0.4%, 3.9%, and 2.9% in the subsequent quarters[20]. - The Hang Seng Index decreased by 15.5% in 2022, while the Hang Seng Chinese Enterprises Index fell by 18.6%[21]. - The U.S. Federal Reserve raised interest rates seven times in 2022, increasing from 0.25% to 4.5% by year-end[21]. - The U.S. GDP grew at an annualized rate of 2.9% in Q4 2022, with an overall growth rate of 2.1% for the year[21]. - The recovery of business in 2023 is expected to be challenging but may lead to significant growth[22]. - The outbreak of COVID-19 and its variants continued to affect global markets, but adjustments in China's anti-epidemic strategy are expected to restore business activities[19]. - The Company believes that the pandemic is coming to an end and anticipates a rebound in the national economy[19]. Shareholder Information - As of December 31, 2022, the company had 1,319,700,274 issued shares[189]. - Wang Dingben holds 68,330,000 shares, representing approximately 5.18% of the issued share capital[189]. - CAS International Investment Management Company Limited and its affiliates collectively hold 315,000,000 shares, accounting for 23.87% of the issued share capital[193]. - Yang Kun is a beneficial owner of 129,640,000 shares, which is about 9.82% of the issued share capital[195]. - Choi Koon Shum and associated entities hold 117,898,595 shares, representing approximately 8.93% of the issued share capital[195]. - The company has not been notified of any other persons with interests or short positions in shares as of December 31, 2022[197]. Corporate Governance - The Company has established an audit committee in compliance with the Listing Rules, comprising three independent non-executive directors[97][100]. - The Company has arranged appropriate Directors' and officers' liabilities insurance coverage during the Year[163]. - The Company has complied with all material relevant laws and regulations in Hong Kong during the Year[162]. - The Company operates a share option scheme to provide incentives and rewards to eligible participants contributing to its success[176]. - The maximum number of shares that may be issued upon exercise of all outstanding options under the Share Option Scheme must not exceed 30% of the issued share capital[175]. - The total number of shares issued upon exercise of options granted to each participant in any twelve-month period shall not exceed 1% of the shares in issue[181]. Management and Directors - Mr. Chan Cheong Yee has been appointed as an executive director since June 1, 2013, and is currently the managing director of Evergrande Securities (Hong Kong) Limited[107]. - Mr. Huang Bin has been appointed as a non-executive director and chairman since January 10, 2022, with extensive experience in fund and asset management[110]. - Mr. Choi Koon Ming has over 26 years of experience in corporate financing and has been an executive director of Sunwah Kingsway Capital Holdings Limited since 2000[115]. - Mr. Choi Chit Sze Jackson, appointed as a non-executive director since February 8, 2022, was recognized as an outstanding young entrepreneur in the Guangdong-Hong Kong-Macao Greater Bay Area in 2020[114]. - Mr. Huang organized special funds to support the "Belt and Road" initiative and promote the development of the Guangdong-Hong Kong-Macao Bay Area[110]. - Mr. Chan is currently an executive director of multiple companies listed on the Main Board of the Stock Exchange, including China Innovation Investment Limited and Capital VC Limited[107]. - Mr. Huang has experience working with international financial institutions, including Crédit Agricole Corporate and Investment Bank in France[110]. - Mr. Choi Koon Ming is also an independent non-executive director of EPS Creative Health Technology Group Limited since 2021[115].

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。 CHINA NEW ECONOMY FUND LIMITED 中 國 新 經 濟 投 資 有 限 公 司 （於開曼群島註冊成立的獲豁免有限公司） （股份代號：80） 截 至2022年12月31日 止 年 度 之 業 績 公 告 業績 中國新經濟投資有限公司（「本公司」）之董事會（「董事會」或「董事」）欣然宣佈本 公司截至2022年12月31日止年度（「本年度」）之業績，連同截至2021年12月31日止 年度之比較數字載列如下： 損益及其他全面收益表 截至2022年12月31日止年度 2022年 2021年 附註 港元 港元 收入 4 3,116,109 2,547,989 按公平值透過損益列賬之金融資產之公平 值變動淨額 5 (39,041,595) 7,181,427 其他營運開支 (16,725,072) (14,592,920) 營運虧損 (52,650,558) (4,863,504) ...

Financial Performance - The company reported a significant increase in net asset value, reaching $1.2 billion, representing a 15% growth compared to the previous period[10]. - The company anticipates a revenue growth of 10% for the next quarter, projecting earnings of approximately $120 million[10]. - New product launches are expected to contribute an additional $30 million in revenue, with a focus on innovative technology solutions[10]. - The Company reported a net loss attributable to shareholders of HK$10,735,153 during the Period, including a net loss in fair value of HK$3,389,428 on investment positions[16]. - The unaudited net asset value per share was approximately HK$0.14, with net unrealised gains of HK$14,480,191 offset by net realised losses of HK$17,869,619 due to stock market volatility[18]. User Engagement - User data showed a 20% increase in active accounts, totaling 500,000 users, indicating strong customer engagement[10]. - Customer satisfaction ratings improved to 90%, reflecting the effectiveness of recent service enhancements[10]. Market Expansion - The company is expanding its market presence in Southeast Asia, targeting a 25% increase in market share by the end of the fiscal year[10]. - The company is exploring partnerships with local firms to bolster its distribution network, aiming for a 30% increase in efficiency[10]. Strategic Investments - A strategic acquisition of a tech startup was completed, valued at $50 million, aimed at enhancing product offerings[10]. - The Company newly invested in Hanvey Group Holdings Limited, which focuses on the design, development, manufacturing, and distribution of watch products[23]. - The Company also invested in Gransing Finance Limited, which is engaged in money lending, to diversify investment risks and potentially enhance long-term returns[23]. - The company continues to explore new investment opportunities to enhance its portfolio and maximize returns[122]. - The management emphasizes the importance of strategic investments in emerging markets to drive future growth[122]. - The company is committed to maintaining a balanced investment approach while seeking high-potential opportunities in the market[122]. Economic Context - The GDP of China in the first half of 2022 increased to RMB 56,264.2 billion, representing a 2.5% increase compared to the first half of 2021[18]. - The Hang Seng Index and the Hang Seng Chinese Enterprises Index both dropped by 6.9% in the first half of 2022[20]. - The U.S. Federal Reserve raised interest rates by 50 and 75 basis points in May and June 2022, respectively, with expectations of rates increasing to 3.5% by the end of 2022[20]. - The recovery of business in the second half of 2022 is expected to be challenging due to ongoing uncertainties in the market[20]. Investment Portfolio - The company holds 7,010,000 ordinary shares of Hanvey Group Holdings Limited, representing a 4.67% ownership stake, with a market value of HK$3.47 million and an unrealized loss of HK$176,000[122]. - The investment in Orater Gold Mining Limited consists of 35,000,000 ordinary shares, accounting for 2.82% of the company, with a market value of HK$3.22 million and an unrealized gain of HK$554,000[122]. - The net asset attributable to the company from Hanvey Group Holdings Limited is HK$2.17 million, contributing 1.90% to the company's gross assets[122]. - The company received no dividends from its investments during the reporting period[122]. - The company’s total investments include significant stakes in various entities, with the largest being in Hanvey Group Holdings Limited and Orater Gold Mining Limited[122]. - The company’s total gross assets include investments exceeding 5% in several companies, highlighting a diversified investment strategy[122]. - The unrealized gains and losses from investments are closely monitored, with specific attention to market fluctuations affecting the portfolio[122]. Investment Performance - Gransing Financial holds 64 shares, representing an 18.08% ownership, with a market value of HK$18,300,000 and an unrealized loss of HK$28,077,000[124]. - iPro Financial Press Limited owns 17,493 shares, accounting for 19.97% of the investee, with a market value of HK$33,781,000 and an unrealized loss of HK$1,218,000[124]. - Gransing Finance Limited has 2,779,570 shares, representing a 19.90% stake, with a market value of HK$16,876,000 and no unrealized gain or loss[124]. - Help U Credit Finance holds 37,000 shares, which is 19.95% of the investee, with a market value of HK$19,000,000 and an unrealized loss of HK$14,132,000[125]. - The net asset attributable to Gransing Financial is HK$17.45 million, which is 10.03% of the company's gross assets[124]. - The dividend received by Gransing Financial during the period is not specified, but the unrealized gain/loss is noted for various investments[124]. - The cost of investment in iPro Financial Press Limited is HK$34,999,000, with a market value of HK$33,781,000[124]. - The total unrealized loss across the investments mentioned amounts to HK$43,427,000[124]. - The proportion of gross assets represented by the investments varies, with Gransing Financial at 10.03% and iPro Financial at 18.52%[124]. - The report indicates ongoing monitoring of market conditions and potential strategies for future investments and expansions[124].

Financial Performance - The Company reported a significant increase in net asset value, reaching HKD 1.2 billion, representing a growth of 15% year-on-year[11]. - Total revenue for the year ended December 31, 2021, was HKD 300 million, reflecting a 10% increase compared to the previous year[11]. - The Company achieved a return on investment of 12%, indicating strong performance in its diversified portfolio[11]. - The Company reported a net loss attributable to shareholders of HK$4,980,239 during the Year, which included a net fair value gain of HK$7,181,427 on investment positions[14]. - Future guidance indicates an expected revenue growth of 15% for the upcoming fiscal year, driven by increased market demand and new product launches[11]. Market Trends and Economic Conditions - The investment performance was affected by a slowdown in the Chinese economy and increased volatility in the global stock market due to the pandemic[14]. - The GDP of China in 2021 increased to RMB114,367 billion, representing an increase of 8.1% compared to 2020[16]. - The Hang Seng Index decreased by 14.1% in 2021, while the Hang Seng Chinese Enterprises Index dropped by 23.3%[16]. - The Company expects the U.S. Federal Reserve to hike interest rates three times in 2022, totaling a rise of 1.75 percentage points[16]. - The Company remains cautiously optimistic about the prospects of the securities market in China and Hong Kong[16]. Investment Strategy and Focus - The Company plans to expand its market presence in Southeast Asia, targeting a 20% increase in investments in the region over the next fiscal year[11]. - The Company plans to focus on further investment opportunities in healthcare and telecommunications sectors[20]. - The company plans to continue exploring investment opportunities in healthcare and telecommunications sectors, focusing on the Greater China region and other major global markets[22]. - The company aims to leverage its professional investment and risk management team to maximize shareholder value through strategic investments[22]. - The company is committed to deploying investment strategies that align with market trends and opportunities in the healthcare and telecommunications sectors[22]. Product Development and Innovation - New product offerings in fintech are expected to launch in Q2 2022, aiming to capture a larger share of the digital investment market[11]. - The Company has invested HKD 50 million in research and development for innovative investment solutions, focusing on sustainability and technology[11]. - New product development and technological advancements are being prioritized to stay competitive in the market[93]. Mergers and Acquisitions - The Company is exploring strategic acquisitions to enhance its technology capabilities, with a budget of HKD 100 million allocated for potential deals[11]. - The companies are exploring merger and acquisition opportunities to strengthen their market presence and operational capabilities[93]. Shareholder Value and Dividends - The management team emphasized a commitment to enhancing shareholder value through strategic investments and operational efficiencies[11]. - Dividend policies are being reviewed to ensure sustainable returns to shareholders while maintaining adequate capital for growth[94]. - The company received no dividends from its largest investments during the year[28]. Investment Portfolio - The company held a total of twenty-seven investments as of December 31, 2021, including sixteen equity securities in Hong Kong-listed companies, one in Australia, six private equity securities, three promissory notes, and one unlisted bond[24]. - The largest investment in private equities was in Gransing Financial Group Limited, which offers various financial services and has launched new A.I.-enhanced services[19]. - The largest investment, Kingland Group Holdings Limited, accounted for 5.36% of the investee's capital, with a market value of HK$9,729,000 and an unrealized loss of HK$1,181,000[28]. - The company disclosed its ten largest investments and all individual investments exceeding 5% of its gross assets as per the Listing Rules[25].

Financial Performance - The Company reported a net profit attributable to shareholders of HK$12,670,242 during the Period, which included a net gain in fair value of HK$17,316,315 from investment positions in the portfolio[14]. - The net profit was primarily driven by a net unrealised gain of HK$39,542,627, offset by a net realised loss of HK$22,226,312 on financial assets at fair value through profit or loss[18]. - The net asset value per share increased to approximately HK$0.15 as of 30 June 2021, despite market volatility[18]. Investment Strategy - The Company maintained a medium to long-term investment strategy in both public and private equity markets during the Period[14]. - The Company is focused on achieving long-term capital appreciation for professional investors through investments in new economy sectors[13]. - The Company continues to focus on investment strategies in Greater China and other major global markets to maximize profits for shareholders[25]. - The Company aims to explore more private equity and unlisted investment opportunities to benefit investors and shareholders[25]. - The Company will continue to seek high-potential listed companies for investment in the short to medium term[25]. Market Conditions - The global economy faced challenges due to the ongoing COVID-19 pandemic, impacting recovery efforts[20]. - The ongoing COVID-19 pandemic and its variants may slow GDP growth in the US and globally, creating uncertainties in major stock markets[23]. - The US Federal Reserve is expected to have limited room for interest rate cuts, with potential interest hikes before the end of 2023[23]. Investment Portfolio - As of 30 June 2021, the Company held seventeen investments in Hong Kong-listed companies, one investment in an Australia-listed company, five private equity securities investments, one promissory note, and one bond[14]. - The Company’s major investments are concentrated in the financial services sector, particularly in the Hong Kong market[14]. - The Company invested in Oriental Payment Group Holdings Limited, which provides payment processing services to merchants frequently visited by Chinese tourists in Thailand and Singapore[25]. - The Company made a new private equity investment in Forever Best Investments Limited, holding a 25% share in a logistics services company[25]. - The company has investments in private equity in the British Virgin Islands, with a total cost of HK$3,883 and a market value of HK$3,893, resulting in no unrealised gain or loss[194]. Specific Investment Details - Gransing Financial Group Limited holds 64 shares with a cost of HK$46,377, and a market value of HK$18,757, resulting in an unrealised loss of HK$27,620[194]. - Help U Credit Finance Limited has 37,000 shares owned, representing 18.95% of the investee's capital, with a cost of HK$19,000 and a market value of HK$6,390, leading to an unrealised loss of HK$12,610[197]. - Oriental Payment Group Holdings Limited has a cost of HK$15,000 and a market value of HK$15,000, resulting in no unrealised gain or loss, with a yield of 10%[197]. - The net asset attributable to the company from Gransing Financial Group Limited is HK$25.13 million, accounting for 17.41% of the company's gross assets[194]. - The company received no dividends from Help U Credit Finance Limited during the period, which represents 5.93% of the company's gross assets[197]. - The unrealised gain/loss for Gransing Financial Group Limited is recorded as HK$27,620[194]. - The company has a total of HK$4.42 million net assets attributable from Forever Best, which is 3.61% of the company's gross assets[194]. - The company’s total unrealised gains/losses across its investments are being closely monitored to assess future performance and strategy adjustments[197]. Future Outlook - The Company will continue to monitor investments cautiously due to recent uncertain market conditions[18]. - The company is exploring further market expansion opportunities in the Hong Kong region to enhance its investment portfolio[197].