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。 Golden Century International Holdings Group Limited 金禧國際控股集團有限公司 （於香港註冊成立之有限公司） （股份代號：91） 截至二零二二年十二月三十一日止年度 全年業績公告 金 禧 國 際 控 股 集 團 有 限 公 司（「本公司」）董 事 局（「董事局」或「董 事」）謹 此 公 佈 本 公 司 及 其 附 屬 公 司（「本集團」）截 至 二 零 二 二 年 十 二 月 三 十 一 日 止 年 度（「本 年 度」）之 業 績 如 下： 摘 要 • 本集團於本年度之總收益約為44,747,000港 元（二 零 二 一 年（經 重 列）：約 30,008,000港 元），較 二 零 二 一 年 增 加 約49.12%。 • 本集團於本年度錄得除稅後虧損約156,167,000港 元（二 零 二 一 ...

Financial Performance - The Group's revenue for the six months ended 30 June 2022 was approximately HK$8,474,000, a decrease of about 29.26% compared to HK$11,979,000 in the same period last year[6]. - Gross profit for the Period was approximately HK$1,614,000, representing a decrease of about 81.31% from HK$8,634,000 in the previous year[6]. - The loss for the Period amounted to approximately HK$46,166,000, an increase of approximately 58.97% compared to HK$29,041,000 in the same period last year[10]. - Administrative expenses increased by approximately 6.84% to HK$35,443,000 from HK$33,174,000 in the previous year[6]. - The loss for the period was approximately HK$46,166,000, an increase of about 58.97% compared to the previous year, primarily due to reduced income from financial and wealth management businesses and foreign exchange losses from RMB depreciation[14]. - The gearing ratio increased to approximately 110.03% as of June 30, 2022, compared to approximately 82.72% as of December 31, 2021[16]. - The Group had total assets of approximately HK$311,599,000 and total liabilities of approximately HK$324,419,000 as of June 30, 2022[16]. - The accumulated losses increased to HK$3,284,749,000 as of June 30, 2022, from HK$3,238,803,000 at the beginning of the year, reflecting an increase of approximately 1.4%[86]. - The company reported a net foreign exchange loss of HK$11,790,000 for the six months ended June 30, 2022, compared to a gain of HK$2,825,000 in the previous year[122]. Cash Flow and Liquidity - The Group's cash and bank balances as of 30 June 2022 were approximately HK$76,252,000, down from approximately HK$106,379,000 as of 31 December 2021[11]. - Net current liabilities increased to approximately HK$180,629,000 as of 30 June 2022, compared to approximately HK$157,442,000 as of 31 December 2021[11]. - The company experienced a net decrease in cash and cash equivalents of HK$41,880,000 during the reporting period[96]. - The cash used in operations included a decrease in restricted bank balances of HK$7,256,000[94]. - The Directors believe that the Group will have sufficient cash resources to satisfy its future working capital and other financing requirements in the next twelve months[100]. Segment Performance - The comprehensive healthcare business generated revenue of approximately HK$6,182,000, a significant increase from HK$2,282,000 in 2021, but recorded a segment profit of only HK$80,000 compared to HK$864,000 in the previous year[31][33]. - The electronic components segment revenue dropped to approximately HK$330,000, representing a decrease of approximately 59.11% year-over-year, with a segment loss of approximately HK$503,000[34][37]. - The financial business recorded revenue of approximately HK$1,370,000, down from HK$4,825,000 in 2021, resulting in a segment loss of approximately HK$4,587,000 compared to a loss of approximately HK$888,000 in the previous year[36][38]. - The wealth management business faced pressure due to border restrictions, recording revenue of HK$261,000, down from HK$4,065,000 in 2021, and a segment loss of approximately HK$2,005,000 compared to a profit of approximately HK$3,485,000 in the previous year[40]. - The proprietary investment business recorded a segment profit of approximately HK$411,000 during the period, an increase from approximately HK$33,000 in 2021[40]. Operational Strategies and Developments - The Group actively cooperated with the Hong Kong and mainland China governments to combat the pandemic and adjusted operational strategies to ensure orderly progress of production and finance business[21]. - The Group's management continues to monitor foreign exchange exposure and will consider hedging significant foreign currency exposure if necessary[21]. - The Group's operational strategies were adjusted to ensure business continuity amid severe disruptions caused by the pandemic[21]. - The Group is currently seeking legal advice regarding a lawsuit involving alleged breach of duty prior to its acquisition of GCINT WM in September 2020[21]. - The Group is negotiating a sixth modification to the PSC for Area B, which expired on March 31, 2022[22]. Shareholder Information - As of June 30, 2022, Pan Jibiao holds 3,278,604,864 ordinary shares, representing approximately 73.61% of the issued share capital of the company[49]. - The total number of ordinary shares issued by the company as of June 30, 2022, is 4,454,196,695[50]. - The company did not declare or propose any dividends during the interim period, consistent with the previous year[129]. Corporate Governance and ESG - The Company has complied with the Corporate Governance Code throughout the period, except for the deviation where the roles of Chairman and CEO are held by the same individual, Mr. Pan Jibiao[59]. - The Company has established an ESG Committee to align with sustainable development goals, chaired by Ms. Shao Yanxia, and has incorporated key ESG indicators into its operations[59]. - The company is committed to implementing ESG principles to achieve significant results in environmental, social, and corporate governance[45]. Future Outlook - The Hong Kong economy is expected to gradually regain vitality in the second half of the year due to improved pandemic control measures[42]. - The company anticipates benefits from favorable policies in the clean energy sector, particularly from the "dual carbon" national strategy and the Green Finance Guidelines issued in the first half of 2022[42]. - The comprehensive healthcare industry is expected to grow, supported by policies such as the "14th Five-Year Plan for National Health Plan" and the focus on centralized drug procurement[42].

Financial Performance - For the year ended December 31, 2021, the total revenue of the Group amounted to HK$36,931,000, representing a decrease of approximately 47.06% compared to the previous year[8]. - The loss for the year was approximately HK$62,429,000, representing a decrease of approximately 3.40% compared to the previous year[8]. - The Group raised a total of approximately HK$109 million through two rounds of placings in 2021, improving its financial position and shareholder structure[8]. - As of December 31, 2021, the shareholders' equity of the Group was HK$24,752,000, a significant improvement from a capital deficiency of HK$383,108,000 in 2020[8]. - Revenue from the sales of medical devices and epidemic-prevention supplies decreased by approximately 82.64% from HK$60,399,000 in 2020 to HK$10,488,000 for the Year[30]. - The electronic components business saw a decline of 74.81%, dropping from HK$7,035,000 in 2020 to HK$1,772,000 for the Year[30]. - The financial business contributed approximately HK$19,520,000, a significant increase from HK$809,000 in 2020[30]. - Gross profit increased by about 330.71% to HK$22,186,000 compared to HK$5,151,000 in 2020, mainly due to the development in the financial sector[30]. - Other income rose by approximately 115.42% from HK$3,457,000 in 2020 to HK$7,447,000 for the Year[30]. - Administrative expenses increased by about 10.21% to HK$69,522,000 from HK$63,081,000 in the previous year[33]. - The Group reported a loss from operations of HK$10,974,000 for the Year, compared to a profit of HK$6,056,000 in the previous year[33]. - Finance costs for the Year were HK$53,838,000, down from HK$70,794,000 in 2020[33]. - The Group's total assets as of December 31, 2021, were HK$366,232,000, compared to HK$361,908,000 in 2020, while total liabilities decreased to HK$341,480,000 from HK$745,016,000[52]. - The gearing ratio improved to 82.72% as of December 31, 2021, down from 321.91% in 2020, indicating a stronger capital structure[52]. - Equity attributable to shareholders was HK$30,410,000 as of December 31, 2021, a recovery from a capital deficiency of HK$378,259,000 in 2020[52]. Business Development and Strategy - The Su'nan Coalbed Methane Project achieved significant progress, including the successful ignition of a new horizontal well in August 2021, marking a new stage in its development[10]. - The Group appointed Apaisi Oil & Gas Consulting Limited to assist in preparing the overall development proposal report for the Su'nan Coalbed Methane Project[10]. - The Group plans to continue resource allocation in Area B of the Su'nan Block, aiming to verify reserves as soon as possible[10]. - A new horizontal well in Area A has successfully produced gas, marking a significant milestone in the development of the Sunnan coalbed methane project[11]. - The Group appointed Professor Zhang Suian as a senior consultant for its coalbed methane business, enhancing its expertise in the field[12]. - The Group aims to build a global corporate platform with a dual driver approach of "industry + finance" while diversifying into financial and comprehensive healthcare businesses[33]. - The Group plans to align its coalbed methane projects with the PRC government's "14th Five-Year Plan" for clean energy development[23]. - The Group's vision includes continuous innovation and the establishment of a centennial enterprise, focusing on long-term growth and stability[24]. - The Group's commitment to carbon neutrality will drive its future energy development strategies, particularly in coalbed methane[27]. Corporate Governance - The company emphasizes the importance of independent non-executive directors in its governance structure, with members serving on various committees including Audit and Remuneration[81]. - The board includes experienced professionals with backgrounds in accounting, finance, and engineering, enhancing the company's strategic decision-making capabilities[81][84]. - The Company has adopted a code of conduct for directors' securities transactions, ensuring compliance throughout the year[103]. - The Company is committed to enhancing corporate governance practices to maximize shareholder returns[100]. - The Board consists of two executive Directors and three independent non-executive Directors as of December 31, 2021[108]. - The Company has established three Board Committees: the Remuneration Committee, the Nomination Committee, and the Audit Committee, all comprising INEDs[128]. - The Company ensures that all Board Committees have sufficient resources to discharge their duties and can seek independent professional advice when necessary[128]. - The Board is responsible for developing and reviewing the Company's corporate governance policies and practices[137]. - The Company has complied with the corporate governance code except for specific provisions[104]. Environmental, Social, and Governance (ESG) Initiatives - The Group's ESG Report covers the financial year ended December 31, 2021, detailing its ESG activities, challenges, and measures taken during the year[170]. - The Group's CBM business is positioned as a high-quality natural gas source, with China estimated to have the world's third-largest CBM resources, supporting the national low-carbon economy plan[170]. - The Group aims to enhance communication and collaboration with stakeholders to promote sustainable development[168]. - The Group's commitment to sustainable development is a core part of its business strategy, focusing on environmental protection and social responsibility[168]. - The Group has set environmental targets to manage its environmental impact, focusing on air emissions, GHG emission control, waste reduction, energy efficiency, and water conservation[192]. - The Group was not aware of any material non-compliance with environmental related laws and regulations during the year[189]. - The Group emphasizes environmental consideration and has identified "Climate Change Mitigation and Adaptation" as a material ESG topic[192]. - The Group has established a comprehensive and effective internal control system to ensure compliance with relevant laws and regulations[1]. - The Group encourages employees to participate in continuous educational and professional training to enhance competencies[1]. Human Resources and Management - As of December 31, 2021, the Group had 68 employees, with 28 in Hong Kong and 40 in the PRC[75]. - Employee remuneration is reviewed periodically based on performance and responsibilities[75]. - The Group's Chief People Officer has over 20 years of experience in compensation strategy and people development[95]. - Directors are encouraged to participate in continuous professional development, with training covering corporate governance and regulatory updates[123]. - The Group aims to maintain a steady and long-term collaborative relationship with suppliers through strict selection processes[180].

Financial Performance - The Group's revenue for the six months ended June 30, 2021, was approximately HK$11,979,000, representing an increase of about 302.2% compared to HK$2,978,000 in the same period last year[7]. - Gross profit for the Period was approximately HK$8,634,000, a significant increase from approximately HK$437,000 in the same period last year[7]. - Other income amounted to approximately HK$3,170,000, up from approximately HK$91,000 in the previous year, mainly due to rental income from subletting business premises[7]. - Other gains and losses increased to approximately HK$24,608,000 from approximately HK$13,370,000, driven by a gain on fair value change of convertible notes of approximately HK$21,851,000[7]. - The Group recorded a net loss attributable to shareholders of approximately HK$29,077,000 for the period, a significant decrease from HK$46,110,000 in the same period last year, representing a reduction of approximately 37%[9]. - Basic and diluted loss per share improved to approximately HK2.58 cents, compared to HK6.26 cents in the previous year, indicating a decrease of approximately 59%[9]. - Total comprehensive expenses for the period amounted to HK$30,911,000, compared to HK$44,145,000 in 2020, indicating a reduction of about 30%[68]. - The financial business recorded a revenue of approximately HK$4,825,000 in the first half of 2021, compared to nil in 2020, with a loss of approximately HK$888,000, an improvement from a loss of approximately HK$1,490,000 in 2020[37]. - The wealth management business generated revenue of approximately HK$4,065,000 and profit of approximately HK$3,458,000 during the period, both compared to nil in 2020[37]. Assets and Liabilities - As of June 30, 2021, the Group's cash and bank balances amounted to approximately HK$35,057,000, a slight increase from HK$34,411,000 as of December 31, 2020[9]. - The Group's net current liabilities decreased to approximately HK$256,493,000 from HK$369,227,000 as of December 31, 2020, reflecting an improvement of approximately 30%[9]. - Total assets increased to approximately HK$499,370,000 as of June 30, 2021, up from approximately HK$361,908,000 as of December 31, 2020, representing an increase of approximately 38%[9]. - Total liabilities rose to approximately HK$764,691,000 from approximately HK$745,016,000 as of December 31, 2020, indicating an increase of approximately 2.3%[9]. - The Group's gearing ratio improved to approximately 153.13% as of June 30, 2021, down from approximately 205.86% as of December 31, 2020, showing a reduction of approximately 25%[9]. - Capital deficiency attributable to shareholders was approximately HK$260,508,000 as of June 30, 2021, a decrease from approximately HK$378,259,000 as of December 31, 2020[9]. - The total liabilities exceeded total assets by approximately HK$265,321,000 as of June 30, 2021, reflecting a capital deficiency attributable to owners of the Company of approximately HK$260,508,000[85]. Operational Developments - The Group's core business includes coalbed methane exploration and production in the PRC, alongside diversification into financial and comprehensive healthcare sectors[21]. - A new horizontal well in Area A commenced production of coalbed methane on August 4, 2021, with indications of gradually increasing output[24]. - The Group is actively seeking cooperation with neighboring energy corporations to expedite the preparation of the ODP report[26]. - The Group is negotiating with several ODP service providers for the preparation and completion of the ODP report[25]. - The Group aims to keep shareholders and potential investors informed of any updates on business development through voluntary announcements[28]. - The Group signed a letter of intent in June 2021 with a major regional energy service company in China for collaboration on the Anhui Sounan coalbed methane project, aiming to provide trial production natural gas[30]. Employee and Corporate Governance - The Group had 76 employees as of June 30, 2021, a decrease from 90 employees at the end of 2020, with equal distribution between Hong Kong and the PRC[16]. - The company complied with the Corporate Governance Code throughout the period, with deviations noted regarding the roles of the chairman and CEO[2]. - Following the resignation of an independent non-executive director on April 1, 2021, all non-executive directors entered into three-year service agreements[2]. - The company has adopted a code of conduct for directors' securities transactions, ensuring compliance with the Model Code[4]. Share Capital and Financing - The Group raised approximately HK$29.3 million through a placing agreement, issuing 149,691,195 shares at a price of HK$0.20 per share, representing an 18.70% discount to the closing price on 15 March 2021[11]. - As of June 30, 2021, the principal amount of outstanding convertible notes was HK$240 million, with HK$115 million converted into 958,333,333 ordinary shares at a conversion price of HK$0.12 per share[12]. - The Group financed its operations primarily through net proceeds from share issuance and cash flow from various operations[13]. - The Group plans to seek additional financing through open offers, placing of new shares, and issuance of bonds[87]. Market Conditions and Future Outlook - The Group plans to increase exploration and development of coalbed methane projects in line with national policies for clean energy, aiming for better results in the second half of 2021[39]. - The Group anticipates that the relaxation of border restrictions between China and Hong Kong will drive economic exchanges and promote the development of its financial business[39]. - The Group aims to strategically deploy in the domestic financial market to enhance cooperation between China and Hong Kong's financial sectors[39]. - The Group will continue to focus on the dual-wheel drive of "industry + finance" to seize new market opportunities and enhance operational performance[39]. Environmental and Regulatory Considerations - The Group has not incurred any significant expenditure for environmental remediation and has not accrued any amounts for such liabilities, indicating a stable financial position regarding environmental costs[181]. - The uncertainties surrounding environmental liabilities could potentially lead to significant future costs, although these cannot be reasonably estimated at present[181]. - The Group's management believes there are no probable liabilities that will have a material adverse effect on its financial position or operating results under current environmental legislation[181].

Business Development and Acquisitions - The company established a wholly-owned subsidiary, Hunan Shuo Hua Environmental and New Materials Limited, to commence the development of the comprehensive healthcare business[16]. - The acquisition of SD Limited and SD Asset Management Limited was completed, enabling the company to provide a comprehensive range of financial services[17]. - The company completed the acquisition of Shengda Securities and Shengda Asset Management, becoming wholly-owned subsidiaries and enhancing its financial service platform[19]. - The Group officially entered the insurance intermediary business by acquiring 90% of the issued share capital of United Able International Limited, now renamed GCINT Wealth Management Limited[22]. - The Group expanded its financial business by acquiring SD Limited and SD Asset Management Limited, rebranding them as GCINT (HK) Limited and GCINT Asset Management, respectively[71]. Financial Performance - The Group recorded a revenue of HK$69,766,000 for the year, approximately nine times the total revenue of HK$7,587,000 in 2019[49]. - Revenue from the comprehensive healthcare business amounted to HK$60,399,000, while the electronic components business saw a decline of 7.28% to HK$7,035,000[49]. - The Group achieved a gross profit of HK$5,151,000, representing an increase of about 513.21% compared to HK$840,000 in the previous year[49]. - Other income increased by approximately 484.94% from HK$591,000 to HK$3,457,000, mainly due to subleasing office space and government subsidies[49]. - The Group turned a profit of HK$6,056,000, recovering from a loss of HK$454,961,000 in the previous year[52]. Strategic Initiatives and Future Plans - The company aims to expand its footprint in the healthcare and financial services sectors through these strategic initiatives[17]. - The Group aims to leverage the Greater Bay Area as a key target for development, anticipating it to become an engine of global economic growth[37]. - The Group plans to apply for a Mainland QFLP license to further invest in the domestic market, consolidating its strength and creating organic growth[37]. - The Group will focus on large-scale exploration and development of CBM in Su'nan, aiming for stage-by-stage achievements[102]. - The Group intends to apply for a Qualified Foreign Limited Partner (QFLP) license in mainland China to access domestic private equity and venture capital markets for new revenue growth[103]. Corporate Governance - The Company has complied with the Corporate Governance Code provisions, with exceptions for A.2.1 and A.4.1[131]. - The Board consists of two executive directors, one non-executive director, and three independent non-executive directors[140]. - The Company has adopted a code of conduct for directors' securities transactions, confirming compliance throughout the year[133]. - The Board has the necessary skills and experience to discharge their duties effectively[145]. - The Company will continue to monitor and review governance policies to comply with regulatory requirements[132]. Risk Management and Internal Controls - The Audit Committee reviewed the financial reporting system and internal control and risk management systems of the Group[186]. - The Board considers the risk management and internal control systems to be adequate and effective, complying with the Corporate Governance Code[197]. - The internal control review identified weaknesses and provided recommendations for improvement in the internal control systems of various business units[197]. - The Audit Committee ensures that any issues arising from internal control reviews are resolved efficiently and in a timely manner by management[197]. - The Group's risk management practices are essential for long-term growth and sustainability of its business operations[194]. Human Resources and Management - The company appointed Yeung Chi Wai as an independent non-executive director in April 2020, who has over 30 years of experience in accounting, finance, and audit[120]. - Lee Kin Fai serves as the Chief Financial Officer and Joint Company Secretary, holding a master's degree in business administration from The University of Manchester[121]. - Fung Fai Dennis has been the Chief People Officer since April 2020, with over 20 years of experience in compensation strategy and people development[122]. - Li Jianhao was appointed as the Chief Investment Officer in October 2020, with over 15 years of experience in private equity and investment banking[125]. - The company provides sufficient resources for Board Committees to discharge their duties and seek independent professional advice[164]. Market Trends and Opportunities - The market for medical devices and pandemic-prevention supplies is projected to exceed RMB16 trillion by 2030, indicating significant growth potential for the Group's healthcare segment[69]. - The demand for personal protective equipment surged due to COVID-19, prompting the Group to pivot towards manufacturing medical devices and epidemic-prevention supplies[68]. - The global average temperature has risen by more than 2 degrees Fahrenheit, leading to increased market demand for natural gas and CBM as a strategic energy source[102]. - The rollout of vaccines is expected to drive gradual economic recovery in 2021[103]. - The Group's strategic plans aim to create greater value and better returns for shareholders[103].

Financial Performance - The company reported a significant increase in revenue, achieving a total of HKD 500 million, representing a 25% growth compared to the previous period[7]. - The Group's revenue for the six months ended 30 June 2020 was HK$2,978,000, representing a decrease of 31.79% compared to HK$4,366,000 in the same period last year[8]. - Gross profit decreased to HK$437,000 from HK$481,000 in the same period last year[8]. - The Group recorded a loss attributable to shareholders of approximately HK$46,110,000 for the period, a significant improvement from a loss of HK$309,807,000 in 2019, with basic and diluted loss per share at approximately HK6.26 cents compared to HK64.65 cents in 2019[10]. - The loss for the period was HK$46,262,000, compared to a loss of HK$309,946,000 in the prior year, representing a significant reduction in losses[84]. - Total comprehensive expenses for the period amounted to HK$44,145,000, down from HK$309,809,000 in the previous year[84]. User Engagement and Market Expansion - User data showed an increase in active users, reaching 1.2 million, which is a 15% increase year-over-year[7]. - The company is actively pursuing market expansion in Southeast Asia, targeting a 30% increase in market share within the next year[7]. - The company provided a positive outlook for the next quarter, projecting a revenue growth of 20% based on current market trends and user acquisition strategies[7]. Cost Management and Profitability - Cost management strategies have led to a reduction in operational expenses by 10%, improving overall profitability margins[7]. - Administrative expenses increased to HK$23,513,000 from HK$21,084,000, primarily due to higher staff costs and depreciation[8]. - The Group's total liabilities amounted to HK$642,679,000 as of June 30, 2020, up from HK$518,688,000, resulting in a gearing ratio of 227.82% compared to 271.63% in the previous period[10]. Strategic Initiatives and Investments - Research and development investments have increased by 40%, focusing on innovative technologies to improve operational efficiency[7]. - New product launches are expected to contribute an additional HKD 100 million in revenue, with a focus on enhancing user experience and expanding product offerings[7]. - The management emphasized the importance of digital transformation, aiming for a 50% increase in online sales channels by the end of the fiscal year[7]. Acquisitions and Corporate Changes - The company has completed a strategic acquisition of a local competitor, which is anticipated to enhance its market position and increase revenue by HKD 50 million annually[7]. - The Company was renamed "Golden Century International Holdings Group Limited" on 18 March 2020 to better reflect its strategic business plan[15]. - The Group completed the acquisition of SD Limited and SD Asset Management Limited on August 1, 2020, enabling it to conduct regulated activities under Types 1, 2, 4, 5, and 9 of the SFO[32]. Cash Flow and Financing - Cash and cash equivalents at the end of the period increased to HK$74,999,000, compared to HK$27,150,000 for the same period in 2019[100]. - The Group plans to seek additional financing through methods such as open offers, placing of new shares, and issuing bonds[104]. - The Group's cash flow forecast for the next twelve months indicates sufficient resources to meet future working capital and financing requirements[104]. Compliance and Governance - The Company has complied with the Corporate Governance Code throughout the Period, with a deviation regarding non-executive directors' appointment terms[58]. - The Company operates a share option scheme approved by Shareholders on November 11, 2014, allowing Directors to offer options to eligible participants[68]. - The Group's financial statements for the year ended December 31, 2019, have been delivered to the Registrar of Companies as required by the Hong Kong Companies Ordinance[106]. Shareholder Information - As of June 30, 2020, the company has issued a total of 831,789,312 ordinary shares[45]. - Century Gold Millennium International Holdings Group Limited, wholly owned by Mr. Pan Jibiao, holds 469,817,393 ordinary shares, representing approximately 421.45% of the issued share capital[54]. - The total outstanding principal amount of the convertible notes due in 2021 is HK$355,000,000[48].

Financial Performance - The group's revenue for the six months ended June 30, 2019, was HKD 4,366,000, a decrease of 18.89% compared to HKD 5,383,000 in 2018[5]. - The loss for the period was HKD 309,946,000, significantly higher than the loss of HKD 71,558,000 in 2018[6]. - The gross profit recorded was HKD 481,000, down from HKD 534,000 in 2018[5]. - The basic and diluted loss per share was approximately HKD 0.6465, compared to HKD 0.1491 in 2018[7]. - The company reported a loss before tax of HKD 415,905,000, compared to a loss of HKD 79,146,000 in the prior year, reflecting a significant increase in losses[60]. - The total comprehensive loss for the period was HKD 309,809,000, compared to HKD 79,137,000 in the same period last year, marking an increase of approximately 290.5%[62]. - The company reported a net loss attributable to shareholders of approximately HKD 309.8 million for the six months ended June 30, 2019[78]. - The company recorded other income of HKD 56,337,000, a significant improvement from a loss of HKD 7,911,000 in the same period last year[60]. - The company reported a total comprehensive loss of approximately HKD 309.7 million for the period[78]. Assets and Liabilities - Current assets as of June 30, 2019, were HKD 47,795,000, down from HKD 69,424,000 at the end of 2018[9]. - Non-current assets decreased to HKD 190,173,000 as of June 30, 2019, from HKD 621,397,000 at the end of 2018, a decline of about 69.4%[64]. - Current liabilities totaled HKD 103,583,000, down from HKD 124,338,000 at the end of 2018, showing a decrease of approximately 16.7%[64]. - The company's net asset value was negative HKD 271,372,000 as of June 30, 2019, compared to a positive value of HKD 38,450,000 at the end of 2018[66]. - Total liabilities exceeded total assets by approximately HKD 271.4 million, with a capital deficiency of about HKD 266.7 million as of June 30, 2019[78]. - The company had total borrowings of approximately HKD 426.4 million and cash and cash equivalents of about HKD 27.15 million, after deducting restricted bank balances and pledged bank deposits[78]. Cash Flow and Financing - Cash and bank balances increased to HKD 27,292,000 from HKD 6,374,000 at the end of 2018, representing a growth of approximately 327.5%[64]. - The net cash generated from operating activities was HKD 27.0 million, compared to a cash outflow of HKD 4.4 million in the same period last year[72]. - The company announced a rights issue to raise funds, with an estimated net amount of approximately HKD 27.25 million after expenses[80]. - The company is seeking additional financing through public offerings, placements of new shares, and bond issuance[80]. - The company plans to continue discussions with bondholders to extend the repayment dates of current liabilities[80]. - The group’s ability to continue as a going concern depends on successful financing and operational cash flow management, which are subject to significant uncertainty[81]. Corporate Actions and Governance - The company proposed a rights issue to raise approximately HKD 28,750,000, with net proceeds intended for debt repayment and new business development[15]. - The company did not recommend the distribution of dividends for the period[7]. - The company plans to issue bonus warrants to shareholders, with an expected total amount of approximately HKD 5,750,000 to be used for general working capital[17]. - The company has not engaged in any significant acquisitions or disposals of subsidiaries during the reporting period[24]. - The company has complied with the corporate governance code, with the exception of non-executive directors not having specified terms[52]. - The company has taken measures to ensure that its corporate governance practices are not less stringent than those outlined in the corporate governance code[52]. Operational Developments - The company completed drilling 42 exploration wells in Anhui Province, with only 4 production wells operational due to pump failures[27]. - The exploration area for coalbed methane is 567.843 square kilometers, with the exploration period for the B zone extended until March 31, 2020[28]. - The company aims to submit a comprehensive development plan to the relevant Chinese government departments by the end of 2020, targeting commercial production to start in 2022[32]. - The company will focus on developing and exploring the A zone of its coalbed methane project to increase production capacity and achieve annual production targets[44]. - The company is committed to adapting to market changes and aligning with national policies to enhance its operational strategies[44]. Financial Instruments and Investments - The total value of the company's Hong Kong listed securities investment portfolio as of June 30, 2019, was approximately HKD 16,535,000[34]. - The company recorded an unrealized net gain of approximately HKD 5,864,000, attributed mainly to its investment in Daling Group Limited[34]. - The fair value of financial assets measured at fair value through profit or loss for listed investments in Hong Kong was HKD 16,535,000 as of June 30, 2019, up from HKD 10,010,000 as of December 31, 2018[131]. - The fair value of the embedded conversion option in convertible bonds was determined using a binomial lattice model, with a credit spread of 18.48% as of June 30, 2019, indicating a positive correlation with fair value measurement[187]. Employee and Management Information - The company has 40 employees, with a compensation policy that includes basic salary, discretionary bonuses, and medical plans[23]. - Total remuneration for key management personnel was HKD 2,152,000 for the six months ended June 30, 2019, down from HKD 3,257,000 in the same period of 2018, reflecting a decrease of approximately 34%[192]. Legal and Compliance Matters - The company has not been involved in any significant litigation or arbitration matters[19]. - The company is involved in a lawsuit regarding unpaid project payments totaling RMB 736,898, with a maximum bank account freeze of RMB 830,000[178].