登录新浪财经APP 搜索【信披】查看更多考评等级 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗 漏。 兰州黄河企业股份有限公司（以下简称"公司"）分别于2025年3月7日、2025年3月21日召开第十二届董 事会第九次会议和2025年第二次临时股东大会，审议通过了《关于回购公司股份方案的议案》，同意公 司使用自有资金或自筹资金以集中竞价交易方式回购公司股份，用于股权激励或员工持股计划。本次回 购股份的资金总额不低于人民币2,000万元（含）且不超过人民币3,000万元（含），回购价格不超过人 民币9.70元/股。具体回购数量和金额以回购股份期限届满或回购股份实施完毕时实际回购数量和金额 为准。本次回购股份的实施期限自公司股东大会审议通过本次回购股份方案之日起12个月内。具体内容 详见公司于2025年3月10日、2025年3月27日在巨潮资讯网（www.cninfo.com.cn）上披露的《关于回购 公司股份方案的公告》（公告编号：2025（临）-20）、《回购股份报告书》（公告编号：2025 （临）-26）。 一、首次回购公司股份的情况 公司于2025年5月13日 ...

公司截至2025年3月31日，*ST兰黄摊薄每股收益为0.04元，在已披露的同业公司中排名第9。 公司截至2025年3月31日，*ST兰黄最新总资产周转率为0.05次，在已披露的同业公司中排名第15。截至 2025年3月31日，*ST兰黄最新存货周转率为0.38次，较去年同期存货周转率减少0.06次，同比较去年同 期下降13.20%。 公司股东户数为1.95万户，前十大股东持股数量为7712.34万股，占总股本比例为41.52%，前十大股东 持股情况如下： | 序号 | 股东名称 | 持股比例 | | --- | --- | --- | | I | 兰州黄河新盛投资有限公司 | 21.50% | | | 湖南昱成投资有限公司 | 5.00% | | AWN | 宁琛 | 3.88% | | | 张甦荣 | 2.44% | | 5 | 龚建强 | 2.03% | | 6 | 甘肃省工业交通投资有限公司 | 1.89% | | 7 | 兰州富润房地产开发有限公司 | 1.83% | | 8 | 张雯钢 | 1.38% | | 9 | 单雅军 | 0.82% | | 10 | J.P.Morgan Securiti ...

Financial Performance - Revenue for the six months ended December 31, 2024, was HK$21,662,000, a decrease of 75.8% compared to HK$89,336,000 in the previous period[8]. - Gross profit for the same period was HK$1,433,000, down 78.0% from HK$6,505,000 in the previous period[8]. - Loss before taxation was HK$24,998,000, compared to a profit of HK$51,092,000 in the previous period[8]. - Loss for the period amounted to HK$24,999,000, a significant decline from a profit of HK$50,798,000 in the previous period[8]. - Total comprehensive expense for the period was HK$30,061,000, compared to a comprehensive income of HK$5,418,000 in the previous period[10]. - Basic and diluted loss per share was HK$(2.67) cents, compared to earnings of HK$7.36 cents in the previous period[10]. - For the six months ended December 31, 2024, the company reported a loss before tax of HK$24,998,000 compared to a profit of HK$51,092,000 in the same period of 2023[23]. - The total comprehensive income for the period ended December 31, 2024, was a loss of HK$30,061,000, while the previous year reported a total comprehensive income of HK$5,418,000[23]. - For the six months ended December 31, 2024, the company reported a loss attributable to owners of HK$21,607,000, compared to a profit of HK$50,590,000 for the same period in 2023, representing a significant decline[68]. - General and administrative expenses increased by approximately 52.8% to about HK$17.6 million, up from approximately HK$11.5 million in the previous year, mainly due to increased research and administrative expenses related to the newly commenced green energy business[131][136]. Assets and Liabilities - Non-current assets decreased to HK$44,051,000 from HK$42,383,000 as of June 30, 2024[13]. - Current assets decreased to HK$212,443,000 from HK$220,006,000 as of June 30, 2024[13]. - Net current assets decreased to HK$56,296,000 from HK$62,186,000 as of June 30, 2024[13]. - Total equity decreased to HK$89,743,000 from HK$96,469,000 as of June 30, 2024[16]. - The total equity attributable to owners of the company decreased to HK$89,743,000 as of December 31, 2024, from HK$128,498,000 as of July 1, 2023[19]. - Trade receivables decreased from HK$150,366,000 as of June 30, 2024, to HK$134,555,000 as of December 31, 2024, with an increase in provision for impairment losses from HK$7,529,000 to HK$14,960,000[83]. - Other receivables increased from HK$45,584,000 to HK$60,712,000, with the provision for impairment losses remaining unchanged at HK$6,676,000[83]. - The total trade and other receivables decreased from HK$181,745,000 as of June 30, 2024, to HK$173,631,000 as of December 31, 2024[83]. - The ageing analysis of trade receivables showed a significant decrease in the 0-60 days category from HK$93,427,000 to HK$14,830,000, indicating potential collection issues[87]. - The carrying value of property, plant, and equipment decreased from HK$7,045,000 as of July 1, 2024, to HK$6,260,000 as of December 31, 2024, after accounting for depreciation and currency realignment[74]. Cash Flow - The net cash used in operating activities for the six months ended December 31, 2024, was HK$15,857,000, a decrease from HK$108,869,000 in the prior year[23]. - The company generated net cash from financing activities amounting to HK$27,793,000, compared to HK$58,334,000 in the previous year[25]. - As of December 31, 2024, cash and cash equivalents stood at HK$7,202,000, down from HK$8,527,000 at the end of December 2023[25]. Segment Performance - Revenue from Smart City Solutions was HK$15,833,000, down 78.6% from HK$73,962,000 in the previous year[42]. - The segment result for Smart City Solutions showed a loss of HK$7,677,000, contributing to a total loss before taxation of HK$24,998,000 for the Group[44]. - The Group recognized HK$21,349,000 in revenue at a point in time and HK$313,000 over time during the reporting period[44]. - Segment results showed a loss of HK$19,825,000 across various business segments[48]. Investments - Listed equity investments in Hong Kong rose to HK$15,158,000 as of December 31, 2024, up from HK$10,421,000 as of June 30, 2024, marking a 45% increase[96]. - The Group held 1,561,000 shares in Zijing International Financial Holdings Limited, with an accumulated unrealised loss of HK$12,629,438 during the year[175]. - The Group held 1,423,400 shares in GoFintech Innovation Limited, with an accumulated unrealised loss of HK$1,209,890 during the period[178]. - The Group held 180,000 shares in Worldgate Global Logistics Ltd, with an accumulated unrealised loss of HK$2,273,400 during the period[185]. - The total accumulated unrealised loss across all investments held by the Group was HK$22,887,844 as of December 31, 2024[172]. Strategic Initiatives - The company has focused on selecting financially stable customers, primarily government-owned entities, to minimize default risk and ensure reliable revenue streams[147][150]. - The Group successfully commenced sales, design, and installation of SPV Systems to Southeast Asia customers, expanding its market presence and product range[161]. - The Group is committed to establishing long-term partnerships with financially stable clients, primarily state-owned enterprises, to reduce default risks[152]. - The Group's investment strategy includes short-term investments in Hong Kong listed securities, with a focus on improving market sentiment[169]. Challenges and Market Conditions - The data center business in China faced significant stagnation due to a shortage of crucial semiconductor chips and systems, exacerbated by geopolitical sanctions[151]. - The Group's Renewable Energy Business faced significant challenges from 2020 to early 2024, including delays in obtaining necessary approvals and increased costs due to frequent changes in requirements by the power company[155]. - The Hong Kong Government's reduction in Feed-in Tariff (FiT) rates has discouraged some customers from proceeding with orders, indicating a diminishing return phase for the Solar Photovoltaic (SPV) business[156]. - The construction of TdC Phase II has been reconsidered due to uncertainties from the Russia-Ukraine conflict and Western sanctions affecting capital flow[192]. Corporate Governance - The board of directors has resolved not to pay any interim dividend for the six months ended December 31, 2024, consistent with the previous year[69]. - The Group's accounting policies remain consistent with those used in the preparation of the annual financial statements for the year ended June 30, 2024[31]. - The financial statements are presented in Hong Kong dollars (HK$), with all values rounded to the nearest thousand[30].

Financial Performance - Revenue for the six months ended December 31, 2024, was HK$21,662,000, a decrease of 75.8% compared to HK$89,336,000 in the previous period[9]. - Gross profit for the same period was HK$1,433,000, down 78.0% from HK$6,505,000 in the previous period[9]. - Loss before taxation was HK$24,998,000, compared to a profit of HK$51,092,000 in the previous period[9]. - Loss for the period amounted to HK$24,999,000, a significant decline from a profit of HK$50,798,000 in the previous period[9]. - Total comprehensive expense for the period was HK$30,061,000, compared to a comprehensive income of HK$5,418,000 in the previous period[12]. - Basic and diluted loss per share was HK$(2.67) cents, compared to earnings of HK$7.36 cents per share in the previous period[12]. - The company reported a total comprehensive loss of HK$30,061,000 for the period, compared to a total comprehensive income of HK$5,418,000 for the same period in 2023[20]. - Loss attributable to owners of the Company was approximately HK$21.6 million for the six months ended December 31, 2024, compared to a profit of approximately HK$51 million in the previous period[140]. Assets and Liabilities - Non-current assets as of December 31, 2024, totaled HK$44,051,000, an increase from HK$42,383,000 as of June 30, 2024[14]. - Current assets decreased to HK$212,443,000 from HK$220,006,000 as of June 30, 2024[14]. - As of December 31, 2024, the company's net assets decreased to HK$89,743,000 from HK$96,469,000 as of June 30, 2024, representing a decline of approximately 6.5%[17]. - The total equity attributable to owners of the company decreased to HK$93,160,000 from HK$96,494,000, reflecting a decrease of about 3.4%[17]. - Trade receivables decreased to HK$134,555,000 as of December 31, 2024, down from HK$150,366,000 as of June 30, 2024[91]. - The provision for impairment losses on trade receivables increased to HK$14,960,000 from HK$7,529,000[91]. - The carrying value of property, plant, and equipment decreased to HK$6,260,000 as of December 31, 2024, from HK$7,045,000 at the beginning of the period[80]. Cash Flow - The net cash used in operating activities for the six months ended December 31, 2024, was HK$15,857,000, a significant increase in cash outflow compared to HK$108,869,000 for the same period in 2023[24]. - Cash outflows from investing activities amounted to HK$14,646,000 for the six months ended December 31, 2024, compared to cash inflows of HK$53,653,000 in the previous year[24]. - The Group experienced a net decrease in cash and cash equivalents of HK$2,710,000, contrasting with an increase of HK$3,118,000 in the same period of 2023[27]. - The Group's cash and cash equivalents at the end of the period were HK$7,202,000, down 15.5% from HK$8,527,000 at the end of the previous period[27]. Revenue Breakdown - Revenue from Smart City Solutions was HK$15,833,000, down 78.6% from HK$73,962,000 in the previous year[46]. - Revenue from the design and sales of renewable energy products and solutions was HK$5,829,000, a decrease of 62.1% from HK$15,374,000 in the prior period[46]. - The decrease in revenue was primarily attributed to lower contract volumes from Smart City Solutions and renewable energy segments due to supply shortages and government policy changes[140]. Share Capital and Financing - The issuance of new shares resulted in an increase in share capital to HK$8,206,000 as of December 31, 2024, from HK$6,838,000 as of July 1, 2024[20]. - The net cash generated from financing activities was HK$27,793,000, compared to HK$58,334,000 in the same period last year, reflecting a decline of 52.4%[27]. - The company raised gross proceeds of approximately HK$23,934,000 from the issuance of 136,764,000 ordinary shares at a placing price of HK$0.175 per share on July 19, 2024, to be used for general working capital[122]. Impairment and Losses - The company incurred impairment losses on loan receivables, trade, and other receivables amounting to HK$7,653,000, up from HK$3,684,000 in the previous year[24]. - The provision for impairment losses on loan receivables increased to HK$296,000 as of December 31, 2024, from HK$174,000 as of June 30, 2024, reflecting a cautious approach to credit risk management[101]. Taxation - Current tax expenses for the six months ended December 31, 2024, were HK$1,294,000, reflecting the company's tax obligations in both Hong Kong and the PRC[60]. - The company’s operations in the PRC benefited from a reduced tax rate of 5% during the review period, compared to the standard rate of 25%[63]. Management and Strategy - General and administrative expenses increased by approximately 52.8% to approximately HK$17.6 million for the six months ended December 31, 2024, up from approximately HK$11.5 million in the previous period[142]. - The management strategy focuses on stringent cost control to enhance return on investments despite increased expenses related to new green energy initiatives[142]. Market and Business Development - The Renewable Energy Business faced significant challenges from 2020 to early 2024, including delays in approvals and a sudden cut in Feed-in Tariff (FiT) rates by the Hong Kong Government, which discouraged customer orders[166][167]. - The Group successfully commenced sales, design, and installation of SPV Systems to Southeast Asia customers during the review period, expanding its market presence[171]. - In August 2024, the Group secured official validation for its Oxyhydrogen Gas System technology from government bodies in China, enabling trial production[172]. Investments - The fair value of listed equity investments in Hong Kong was approximately HK$15.2 million, up from approximately HK$10.4 million on June 30, 2024[182]. - The investment portfolio included 8 equity securities, with 6 listed on the Main Board and 2 on the GEM of the Stock Exchange[182].

Financial Performance - Revenue for the year ended June 30, 2024, was HK$208,612,000, a significant increase from HK$25,292,000 in 2023, representing a growth of 726%[4] - Attributable loss from continuing operations for 2024 was HK$12,420,000, slightly higher than the loss of HK$12,745,000 in 2023[4] - Total revenue for the Group reached approximately HK$209 million in 2024, compared to HK$25 million in 2023, an increase of about 736%[17] - Loss attributable to owners of the Company was approximately HK$12.4 million, slightly up from HK$12.2 million in the previous year[20] - The gross profit ratio decreased from 16% to 5.5%, primarily due to lower margins in the smart city solution business[20] Assets and Liabilities - Total assets increased to HK$262,389,000 in 2024 from HK$174,030,000 in 2023, reflecting a growth of 51%[4] - Cash and cash equivalents as of June 30, 2024, amounted to HK$14,699,000, up from HK$9,147,000 in 2023, indicating a 61% increase[4] - The company's equity as of June 30, 2024, was HK$96,494,000, down from HK$111,252,000 in 2023, showing a decrease of 13%[4] - The current assets to current liabilities ratio decreased to 1.39 in 2024 from 3.51 in 2023, indicating a decline in liquidity[4] - The Group's current assets as of June 30, 2024, were approximately HK$220 million, up from approximately HK$131 million in 2023, while current liabilities increased to approximately HK$158 million from HK$37 million[56] Business Strategy and Focus - The company is focusing on expanding its market presence and developing new technologies to enhance future growth prospects[4] - The Group's strategic focus includes partnerships with state-owned enterprises and those under local government control to mitigate bad debt risks[12] - The Group is shifting focus to medium to large-scale renewable energy projects due to the decreasing duration of the Feed-in Tariff scheme in Hong Kong[52] - The Group is committed to expanding its Smart City Solution Business, actively seeking new market prospects across different cities in Mainland China[52] - The Group's smart city solutions and renewable energy sectors are key components of the Company's business strategy[22] Investments and Acquisitions - The Group acquired a 51% stake in Innovative Ecoglory Technology Company Limited in June 2024 to enhance its green energy portfolio[11] - The Group acquired a 51% equity stake in Innovative Ecoglory Technology Company Limited for a total investment of RMB5.14 million, based on proof of concept and laboratory results[51] - The Group successfully commenced sales of its SPV Systems in the second half of the year to Southeast Asia customers, expanding market presence[27] - The Group is negotiating with multiple biomass power plants and major oxygen consumers, aiming to establish a substantial production facility within the next 12 to 36 months[51] Financial Management and Capital Structure - The company raised approximately HK$198 million through a rights issue, with the proceeds intended for loan repayment and business facilitation in oil trading, renewable energy, and IT projects[57] - A total of HK$126 million was utilized for loan repayment to Guangdong Finance Limited, HK$41 million for promissory note payables, HK$22.8 million for trading business, and HK$3.6 million for renewable energy projects[58] - The Group's borrowings were utilized by subsidiaries in the form of fixed loans, margin loans, and promissory notes, with all borrowings denominated in local currencies, resulting in insignificant currency risk exposure[64] - The Group's liquid assets totaled approximately HK$14.7 million as of June 30, 2024, compared to approximately HK$9.1 million in 2023[56] - The Group had no borrowings as of June 30, 2024, resulting in a gearing ratio of zero[56] Market Conditions and Economic Factors - China's fiscal stimulus measures are anticipated to enhance liquidity in the financial system, facilitating easier lending to businesses and consumers[15] - The ongoing geopolitical conflicts and economic challenges have prompted the Group to prioritize low-cost green energy initiatives[11] - Energy prices are expected to remain relevant to the company's business in the foreseeable future due to ongoing global conflicts[50] - The Ukraine conflict has led to disruptions in oil and gas supplies, resulting in increased global energy prices and inflationary pressures[50] Corporate Governance and Compliance - The Group has complied with the Corporate Governance Code during the year ended June 30, 2024[167] - The Board will review its corporate governance practices annually and make necessary changes if needed[167] - The Company is committed to maintaining compliance with applicable laws and regulations, ensuring no significant breaches occurred during the year[89] - The Board discusses overall strategies, monitors financial performance, and reviews annual and interim results during regular meetings[190] Employee and Community Engagement - The Group provides on-the-job training and development opportunities to enhance employees' career progression and values their health and well-being[92] - The company made charitable donations amounting to HK$10,500 in 2024, compared to HK$11,200 in 2023, representing a decrease of approximately 6.25%[104] Shareholder Information - The Directors do not recommend any dividend for the year ended June 30, 2024, with capital reserved for business expansion and future investment opportunities[92] - The Company has established a Dividend Policy, which is reviewed periodically, but there is no assurance of dividend payments in any specific amount[96][98] - For the year ended 30 June 2024, sales to the Group's five largest customers accounted for approximately 88% of total revenue, with the largest customer contributing about 52%[141]

Financial Performance - The total revenue for the year ended June 30, 2024, was HKD 208,612,000, an increase from HKD 197,212,000 in 2023, representing a growth of approximately 5.7%[3] - The gross profit for the year was HKD 11,400,000, compared to HKD 4,050,000 in the previous year, indicating a significant increase[2] - The company reported a loss before tax of HKD 12,776,000 for 2024, slightly higher than the loss of HKD 11,675,000 in 2023[4] - The total comprehensive loss for the year was HKD 14,728,000, compared to HKD 21,137,000 in 2023, showing an improvement of approximately 30.5%[4] - The company reported a basic and diluted loss per share from continuing operations of HKD 1.82, compared to HKD 1.86 in the previous year[5] - The company recorded a loss attributable to owners of approximately HKD 12.2 million for the year, compared to a loss of HKD 12 million in 2023, with a gross margin decrease from 16% to 5.5%[34] - The company did not declare or recommend any dividends for the year ended June 30, 2024, consistent with the previous year[26] - The company reported a fair value loss of HKD 19,453 million on financial assets measured at fair value through profit or loss for the year ended June 30, 2024[20] - The company recognized an impairment loss of HKD 10,410 million on trade receivables for the year ended June 30, 2024[20] Revenue Segments - Revenue from the Smart City Solutions segment reached HKD 179,878 thousand, up from HKD 12,181 thousand in the previous year, indicating an increase of 1,377%[12] - Revenue from the Renewable Energy Products and Solutions segment was HKD 28,734 thousand, compared to HKD 13,111 thousand in the previous year, reflecting an increase of 119%[12] - The group reported a revenue of HKD 208,612 thousand for the fiscal year ending June 30, 2024, compared to HKD 25,292 thousand in the previous year, representing a significant increase of 726%[12] Cash and Assets - The net cash and cash equivalents increased to HKD 14,699,000 from HKD 9,147,000 in the previous year, reflecting a growth of about 60.5%[6] - The company's total assets decreased to HKD 220,006,000 from HKD 131,554,000, indicating a significant increase in liabilities[6] - The company’s equity attributable to owners decreased to HKD 96,494,000 from HKD 111,252,000, indicating a decline of approximately 13.3%[7] - Trade receivables (net of expected credit losses) at the end of the reporting period amounted to HKD 142.837 million, up from HKD 8.023 million in 2023[30] - The company’s current assets were approximately HKD 220 million, compared to HKD 131 million in 2023, while current liabilities increased to about HKD 158 million from HKD 37 million[60] - The company maintains a strong financial liquidity position with a net current asset value of approximately HKD 62 million, down from HKD 94 million in 2023[60] Investments and Financial Assets - The company recognized a fair value loss on investment properties of HKD 3,533,000, compared to HKD 1,136,000 in 2023, highlighting a deterioration in asset performance[4] - The company recorded a loss of approximately HKD 19.5 million in financial assets at fair value due to pessimistic market sentiment and global economic concerns[47] - The fair value gain from the investment in Starry Sky Huawen was HKD 17.4 million at the end of last year, indicating a previously sound investment decision[47] - As of June 30, 2024, the fair value of financial assets classified at fair value through profit or loss was approximately HKD 10,400,000, a decrease from HKD 34,000,000 as of June 30, 2023, representing a decline of 69.4%[48] - The total investment in financial assets as of June 30, 2024, amounted to HKD 36,812,546, compared to HKD 26,391,747 in the previous year, indicating an increase of 39.5%[48] Business Operations and Strategy - The group ceased operations in the charging business after selling its stake in Beijing Mingxin Zhiliang Technology Co., Ltd. in June 2023, which will not require restating comparative data[13] - The company is focusing on sectors supported by national policies, such as smart city solutions, and aims to establish partnerships with state-owned enterprises and local governments[32] - The business model emphasizes continuous innovation and the regular launch of new products, particularly in the smart city solutions and renewable energy sectors[39] - The renewable energy business faced challenges from regulatory delays and cost increases, with the feed-in tariff (FiT) program in Hong Kong set to end in December 2033, indicating a declining internal rate of return for solar photovoltaic (SPV) projects[43] - The company has decided to focus entirely on green energy and will not pursue further exploration in fossil fuels due to environmental concerns and increasing market risks[45] Financial Management - The company maintained a prudent financial policy, ensuring a positive liquidity position through internal resources and bank borrowings[63] - The financial cost for the year was approximately HKD 40,000, significantly reduced from HKD 172,000 in 2023[60] - The company has established a credit assessment and KYC process to evaluate potential borrowers, ensuring compliance with regulatory requirements[50] - No overdue loans have been reported since the current management allowed the issuance of such loans, indicating effective credit management[51] Future Outlook - The company is optimistic about the revenue prospects of its IDC business, expecting these projects to enhance financial performance and solidify its position as a reliable data center solution provider[58] - The company is actively negotiating with potential partners in China, the UK, and Southeast Asia for solar energy projects[57] - The company aims to establish a larger production base within 12 to 36 months based on anticipated contract values from potential clients[56]

Financial Performance - The total revenue for the year ended June 30, 2024, was HKD 208,612,000, compared to HKD 197,212,000 for the previous year, representing an increase of approximately 5.7%[3] - The gross profit for the year was HKD 11,400,000, while other income, gains, and losses amounted to HKD 2,246,000, indicating a decrease in other income compared to HKD 3,176,000 in the previous year[2] - The company reported a loss before tax of HKD 12,776,000, slightly higher than the loss of HKD 11,675,000 in the previous year, reflecting ongoing financial challenges[4] - The total comprehensive loss for the year was HKD 14,728,000, compared to HKD 21,137,000 in the previous year, showing an improvement in overall financial performance[4] - The loss attributable to owners of the company from continuing operations was HKD 12,420,000, compared to HKD 12,745,000 in the previous year, indicating a slight improvement[5] - The company reported a net loss of HKD 12,183 million for the year ended June 30, 2023, compared to a net profit of HKD 562 million from discontinued operations[27] Revenue Segments - The group's revenue for the fiscal year ending June 30, 2024, reached HKD 208,612,000, a significant increase from HKD 25,292,000 in the previous year, representing a growth of 726%[12] - Revenue from the Smart City Solutions segment amounted to HKD 179,878,000, compared to HKD 12,181,000 in the previous year, indicating a growth of 1,477%[12] - Revenue from the Renewable Energy Products and Solutions segment was HKD 28,734,000, up from HKD 13,111,000, reflecting a growth of 119%[12] Assets and Liabilities - The company's total assets decreased to HKD 220,006,000 from HKD 131,554,000, primarily due to changes in current liabilities[6] - The company's current assets were approximately HKD 220 million, compared to HKD 131 million in 2023, while current liabilities increased to about HKD 158 million from HKD 37 million[60] - The company maintains a strong financial liquidity position with a net current asset value of approximately HKD 62 million, down from HKD 94 million in 2023[60] Cash Flow and Liquidity - The net cash and cash equivalents increased to HKD 14,699,000 from HKD 9,147,000, indicating improved liquidity[6] - The company reported zero debt as of June 30, 2024, with financial costs of approximately HKD 40,000, significantly reduced from HKD 172,000 in 2023[60] Investments and Fair Value - The company recognized a fair value loss on investment properties of HKD 3,533,000, compared to HKD 1,136,000 in the previous year, reflecting market conditions affecting property values[4] - The company recognized a fair value loss of HKD 19,453 million on financial assets measured at fair value through profit or loss for the year ended June 30, 2024[20] - As of June 30, 2024, the fair value of financial assets classified at fair value through profit or loss was approximately HKD 10,400,000, a decrease from HKD 34,000,000 as of June 30, 2023, representing a decline of 69.4%[48] Business Operations and Strategy - The group ceased operations in the charging business after selling its stake in Beijing Mingxin Zhiliang Technology Co., Ltd. in June 2023, which will not require restating comparative figures[13] - The company has decided to focus entirely on green energy and will not pursue further exploration in fossil fuels due to environmental concerns and market uncertainties[45] - The company is shifting focus from selling Huawei inverters to larger projects due to geopolitical challenges and is expanding its solar photovoltaic system sales internationally[57] Employee and Administrative Costs - The employee costs for the year ended June 30, 2024, were approximately HKD 12,000,000, an increase from HKD 11,200,000 in 2023, with a total of about 40 employees[66] - General and administrative expenses increased by approximately 16.3% to about HKD 23 million, up from HKD 19 million in 2023, primarily due to increased business volume[36] Future Outlook and Market Conditions - The company anticipates that recent fiscal stimulus measures in China will enhance liquidity in the financial system, facilitating easier access to loans for businesses and consumers[32] - The ongoing conflicts in Ukraine and the Middle East are expected to impact global economic stability and energy prices, which are critical for the company's operations[55] Shareholder Returns - The company did not declare or recommend any dividends for the year ended June 30, 2024, consistent with the previous year[26] - The company did not recommend any final dividend for the year ended June 30, 2024[67] Acquisitions and Sales - The company completed the sale of 100% equity in a subsidiary for HKD 45,900,000 on October 30, 2023, to streamline operations[22] - The company agreed to sell its entire equity interest in a hotel project in Dongguan for HKD 45.9 million, with the proceeds intended for general working capital and development of existing projects[54]

Financial Performance - Revenue for the six months ended December 31, 2023, was HK$89,336,000, a significant increase from HK$3,538,000 in the previous period, representing a growth of 2,425%[6] - Gross profit for the same period was HK$6,505,000, compared to HK$712,000 in the previous period, indicating a substantial increase[6] - Profit for the period reached HK$50,798,000, a turnaround from a loss of HK$5,768,000 in the previous period[6] - The company reported a gain on the disposal of subsidiaries amounting to HK$76,305,000, contributing significantly to the overall profit[6] - Total comprehensive income for the period attributable to owners of the company was HK$5,023,000, compared to a loss of HK$4,567,000 in the previous period[9] - Earnings per share for the period were HK$1.84 cents, a significant improvement from a loss of HK$0.22 cents per share in the previous period[9] - For the six months ended December 31, 2023, the profit before tax was HK$51,092,000, a significant improvement from a loss of HK$5,768,000 in the same period of 2022[24] - The total comprehensive income for the period was HK$5,418,000, compared to a total comprehensive loss of HK$4,567,000 for the same period in 2022[19] - Profit attributable to owners of the Company for the period was HK$50,590,000, a significant recovery from a loss of HK$5,963,000 in the same period last year[75] Assets and Liabilities - Current assets increased to HK$181,807,000 as of December 31, 2023, up from HK$93,944,000 as of June 30, 2023[12] - Trade and other receivables surged to HK$149,807,000, compared to HK$40,765,000 in the previous period, reflecting improved collection and sales performance[12] - The company’s net assets decreased to HK$116,245,000 as of December 31, 2023, down from HK$128,498,000 as of June 30, 2023[16] - Cash and cash equivalents at the end of the period were HK$8,527,000, down from HK$13,190,000 at the end of December 2022[26] - Trade payables increased significantly to HK$13,266,000 as of December 31, 2023, compared to HK$4,560,000 as of June 30, 2023, representing a 191.5% increase[106] - Other payables decreased slightly to HK$17,230,000 as of December 31, 2023, from HK$19,315,000 as of June 30, 2023, a decline of 10.8%[106] Cash Flow - The net cash used in operating activities was HK$108,869,000, compared to HK$2,835,000 in the previous year, indicating a substantial increase in cash outflow[24] - The company reported a net cash inflow from investing activities of HK$53,653,000, contrasting with a net cash outflow of HK$6,765,000 in the prior year[26] - The company received HK$2,474,000 from loan receivables during the investing activities, indicating some recovery in cash flow from financial assets[26] - The company secured a loan from a third party amounting to HK$58,810,000, which contributed to the net cash generated in financing activities[26] Investments and Fair Value - The company recorded a fair value loss of HK$17,685,000 on financial assets during the period, compared to a gain of HK$1,350,000 in the previous year[24] - The fair value of listed equity instruments as of December 31, 2023, is determined based on quoted market closing prices available on the Stock Exchange[103] - The Group recorded a fair value loss of approximately HK$17.7 million on financial assets at fair value through profit or loss during the period, compared to a loss of approximately HK$1.4 million in 2022, due to pessimistic market sentiment and global recession concerns[183][185]. Business Segments - Revenue from Smart City Solutions amounted to HK$73,962,000, compared to HK$87,000 in the previous year, indicating a substantial increase in this segment[44] - The segment result for Technology was HK$4,513,000, while the segment result for Renewable Energy was HK$1,143,000, reflecting positive performance in these areas[47] - The Group recognized revenue of HK$433,000 over time, indicating ongoing projects and contracts in progress[47] - The Smart City Solutions Business has secured significant service contracts, including the Lanzhou Project valued at approximately RMB100.2 million, expected to be completed by June 2024[158] - The Gansu Project, valued at approximately RMB38.9 million, also commenced in October 2023 and is expected to be fully completed by June 2024[159] Corporate Governance - The board of directors has resolved not to pay any interim dividend for the six months ended December 31, 2023[77] - The Group has adopted new amendments to HKFRS for the first time, which are expected to enhance financial reporting accuracy[35] - The Group's accounting policies remain consistent with those followed in the preparation of the annual financial statements for the year ended June 30, 2023[31] Market Conditions and Challenges - The Renewable Energy Business faced significant challenges from 2020 to early 2023, including project cancellations and reduced Feed-in Tariff rates, impacting customer orders[171] - The sales of inverter systems were temporarily suspended due to changes in market and geopolitical conditions in Europe, where the Group's major customer is located[171] - The Group remains cautious regarding the Gasoil Trading Business due to volatile global crude oil prices and has not yet concluded a plan for resumption[176] Management and Strategy - The Group is committed to expanding its service offerings and leveraging emerging opportunities in data centers and technology sectors[169] - The Group's focus on establishing relationships with state-owned enterprises and reputable listed companies enhances its credibility in the PRC market[167] - The Group's proactive measures in project execution aim to meet the evolving needs of customers, contributing to sustainable and profitable growth[168]

Financial Performance - Revenue for the six months ended December 31, 2023, was HK$89,336,000, a significant increase from HK$3,538,000 in the previous period, representing a growth of 2,425%[9] - Gross profit for the same period was HK$6,505,000, compared to HK$712,000 in the previous period, indicating a substantial increase[9] - Profit before taxation reached HK$51,092,000, a turnaround from a loss of HK$5,531,000 in the previous period[9] - Profit for the period was HK$50,798,000, compared to a loss of HK$5,768,000 in the previous period, marking a significant improvement[9] - Earnings per share for the period was HK$1.84 cents, compared to a loss of HK$(0.22) cents in the previous period[12] - Total comprehensive income for the period was HK$5,418,000, compared to a total comprehensive loss of HK$5,420,000 in the previous period[11] - The company reported a profit for the period of HK$50,590,000 for the six months ended December 31, 2023, compared to a loss of HK$5,963,000 in the same period last year[21] - Total comprehensive income for the period was HK$5,023,000, compared to a total comprehensive loss of HK$4,567,000 in the previous year[21] - Profit before tax for the six months ended December 31, 2023, was HK$51,092,000, compared to a loss of HK$5,768,000 in the same period of 2022, indicating a significant turnaround[26] - Profit attributable to owners of the Company for the six months ended 31 December 2023 was approximately HK$51 million, a turnaround from a loss of approximately HK$6.0 million in the previous period, mainly due to a one-off gain from the disposal of a subsidiary[137] Assets and Liabilities - As of December 31, 2023, total assets amounted to HK$181,807,000, an increase from HK$131,554,000 as of June 30, 2023, representing a growth of 38%[14] - Current liabilities increased significantly to HK$100,193,000 from HK$32,584,000, indicating a rise of 207%[14] - Net current assets decreased to HK$81,614,000 from HK$94,071,000, reflecting a decline of 13%[14] - Total equity attributable to owners of the Company increased to HK$116,275,000 from HK$111,252,000, marking a growth of 4%[18] - Cash and cash equivalents stood at HK$8,527,000, a slight decrease from HK$9,147,000 as of June 30, 2023[14] - The company’s non-current assets totaled HK$42,680,000, showing a marginal increase from HK$42,476,000[14] - The company recorded an exchange difference loss of HK$7,774,000 due to foreign operations translation[11] - The company recorded a cumulative exchange difference of HK$37.606 million related to the net assets of the subsidiaries released upon loss of control[72] Cash Flow and Investments - Net cash generated from investing activities was HK$53,653,000, a recovery from a net cash outflow of HK$6,765,000 in the previous year[28] - The company reported a net cash inflow of HK$58,334,000 from financing activities, compared to a net cash outflow of HK$3,422,000 in the previous year[28] - Total cash used in operating activities was HK$108,869,000, a significant increase from HK$2,835,000 in the same period last year[26] - The company received HK$2,474,000 from loan receivables, marking a positive cash inflow from this segment[28] - The company reported a loss on the disposal of financial assets of HK$406,000, with no such losses reported in the previous year[26] - The company’s interest income decreased to HK$668,000 from HK$874,000 in the previous year, reflecting a decline of 23.6%[26] Revenue Segments - Revenue from Smart City Solutions amounted to HK$73,962,000, compared to HK$87,000 in the previous year, indicating a substantial increase in this segment[46] - Revenue from the design and sales of renewable energy products and solutions reached HK$15,374,000, up from HK$3,451,000, reflecting a growth of approximately 345%[46] - The segment result for Smart City Solutions was HK$4,513,000, while the overall segment result showed a loss of HK$19,825,000 for the Group[50] - The Group's total revenue for the six months ended December 31, 2023, was HK$89,336,000, a significant increase from HK$3,538,000 in the same period of 2022, representing a growth of approximately 2,525%[46] Expenses and Costs - General and administrative expenses increased to HK$11,491,000 from HK$8,975,000 in the previous period, reflecting a rise of 28%[9] - The total income tax expense for the period was HK$294,000, compared to HK$237,000 in the same period of 2022[61] - The company incurred finance costs of HK$25,000, down from HK$67,000 in 2022, indicating improved cost management[26] - General and administrative expenses increased by approximately 22% to about HK$11 million, up from approximately HK$9 million in the previous year, mainly due to increased legal and professional fees[144] Contracts and Projects - The Group secured a service contract for the Lanzhou Project valued at approximately RMB100.2 million, with on-site work commencing in October 2023 and expected completion by June 2024[161] - A service contract for the Gansu Project valued at approximately RMB38.9 million was also secured, with similar timelines for commencement and completion[162] - The company signed a service contract worth approximately RMB 100.2 million for the Lanzhou project, which involves the installation of an AI model training computing platform and an educational cloud platform, expected to commence in October 2023 and be completed by June 2024[166] - The company has entered into ten new projects under the Smart City Solution Business during the review period, indicating a strong project pipeline[175] Market Conditions and Challenges - The Renewable Energy Business faced significant challenges from 2020 to early 2023 due to delays in approvals, project cancellations, and reduced feed-in tariff rates, impacting overall performance[174] - The company reported a temporary suspension of inverter sales due to changing market conditions and geopolitical factors in Europe, affecting its major customer base[174] - The management maintains a cautious approach towards the gasoil trading business due to volatile global crude oil prices and ongoing geopolitical tensions, with no concrete plans for resumption at this time[179] - The Group has adopted a cautious approach in its refined oil trading business, avoiding losses amid fluctuating global oil prices[181] Investments and Equity - Listed equity investments in Hong Kong decreased from HK$34,223,000 to HK$10,877,000, a decline of approximately 68%[105] - The Group's investment portfolio comprised 6 equity securities as of December 31, 2023, down from 8 as of June 30, 2023[189] - The Group's investment in STAR CM Holdings Limited was sold during the review period to mitigate risks after the stock price dropped by over 75% due to controversies surrounding a popular television show[186] Dividends and Share Capital - The board of directors resolved not to pay any interim dividend for the six months ended December 31, 2023[80] - The authorized share capital remained at 160,000,000 shares with a total amount of HK$1,600,000 as of 31 December 2023[116] - The Group did not declare an interim dividend for the six months ended 31 December 2023, consistent with the previous year[135]

Financial Performance - Revenue for the year ended June 30, 2023, was HK$25,292,000, a decrease of 58.6% compared to HK$60,969,000 in 2022[2] - Attributable loss for the year was HK$12,183,000, improving from a loss of HK$50,869,000 in the previous year[2] - Cash and cash equivalents as of June 30, 2023, were HK$9,147,000, down from HK$24,493,000 in 2022, representing a decline of 62.7%[2] - Total assets decreased to HK$174,030,000 from HK$179,045,000, a reduction of 0.6%[2] - The equity position improved to HK$111,252,000 from HK$130,855,000, indicating a decrease of 15%[2] - The current assets to current liabilities ratio was 3.51, down from 4.98 in 2022, reflecting a tighter liquidity position[2] - The Group reported total revenue of approximately HK$25 million for the year, a decrease of approximately 59% compared to HK$61 million in 2022[36] - Loss attributable to owners of the Company was approximately HK$12 million, down from approximately HK$51 million in 2022, with a loss per share of HK0.45 cents compared to HK2.75 cents in the previous year[37] - The gross profit ratio improved to 16% from 5.3% in 2022, despite the overall revenue decline[37] - Other income increased to approximately HK$3.2 million from HK$2.3 million in 2022, primarily due to higher interest income[38] - General and administrative expenses decreased by approximately 27% to about HK$19 million from HK$27 million in 2022, reflecting cost control measures[39] - The Group recognized a fair value gain on financial assets of approximately HK$11 million, compared to a loss of approximately HK$13.9 million in the previous year[45] - Finance costs significantly decreased to approximately HK$172,000 from approximately HK$12 million in 2022 due to the settlement of all interest-bearing loans[46] Business Operations and Strategy - The company secured two smart construction site contracts totaling over HK$12 million in December 2022 and January 2023, indicating growth in the IoT business segment[10] - The company has temporarily suspended its gasoil business activities as a risk avoidance measure due to geopolitical tensions and market instability[11] - The management is focused on revitalizing the business post-COVID-19, particularly in the areas of Solar Photovoltaic Systems and Smart City initiatives[10] - The company aims to adapt to market conditions and position itself for long-term success despite ongoing challenges in the global economic landscape[10] - The Group signed two significant contracts in the renewable energy sector, including a HK$12 million contract for a SPV system at a mega movie studio and a HK$50 million contract for a local university, providing sustainable revenue sources[18][22] - The Group's Renewable Energy Business is expected to continue expanding following the lifting of COVID-19 social gathering bans in January 2023[18][22] - The Group plans to extend its Smart City Solution Business, having successfully executed two projects during the year[25][29] - The Group remains committed to investing in research and development in clean and renewable energy despite challenges in the market[17][21] - The Group's strategy focuses on creating sustainable and intelligent environments through advanced infrastructure and digital solutions[20][23] - The Group aims to explore new opportunities in overseas markets to diversify its revenue streams[19][22] Market Conditions and Trends - Global oil demand is expected to rise by 2.4 million barrels per day (mb/d) in 2023, with China accounting for 60% of the increase[55] - Saudi Arabia has committed to further reduce oil output by 1 mb/d in July 2023, leading to a two-year low production level of 9 mb/d[55] - The Group's cautious approach in fuel oil trading has limited business scale, focusing on cash transactions and avoiding international waters to mitigate risks[54] - The European market is experiencing a surge in demand for solar energy systems and reliable inverters, with potential customers approaching the Group for procurement[186] - The demand for high-efficiency inverters in Europe is increasing due to the growing adoption of solar energy, driven by commitments to sustainable and renewable energy[188] Technological Development - The Group has integrated Artificial Intelligence, Big Data, and Machine Learning into its IoT devices, enhancing growth opportunities in the data center market[26][29] - The establishment of an intelligent computing platform in Gansu aligns with the trend of reducing reliance on US computing services, presenting stable cash inflow opportunities[27][30] - The interrelationship among IoT, AI, Big Data, and Data Centers enhances the functionality and accuracy of IoT devices, driving the development of cloud applications[78] - The company has been participating in the data center business since 2019, responding to the US-China strategic rivalry and the need for local data centers[84] - The Group is providing value-added services including the design, development, and installation of training computing platforms and education cloud platforms for educational institutions in Lanzhou, generating revenue from these services[198] Project Updates - The Lanzhou Projects, with a total contract sum of approximately RMB139 million, are expected to commence in October 2023 and be completed by February 2024[28] - The Group signed two service contracts for the "Lanzhou Project" in July 2023, with a contract value of approximately RMB 139 million, expected to be completed by February 2024[31] - In June 2023, the company signed two service contracts in Guangzhou and Guangdong, with contract sums of approximately RMB4.8 million and RMB6.5 million respectively, both expected to be completed by November 2023[191][193] - In July 2023, the company secured two new projects in Lanzhou with state-owned enterprises, with contract sums of approximately RMB100 million and RMB39 million, expected to commence in October 2023 and complete by February 2024[196] Investment and Financial Assets - The Group's total investment in financial assets at fair value through profit or loss amounted to HK$44,809,364, with a total unrealized loss of HK$10,586,193 as of June 30, 2023[128] - The investment portfolio included 8 equity securities listed on the Stock Exchange of Hong Kong and one unlisted security, with 5 on the Main Board and 3 on the GEM[124][125] - The Group held 1,561,000 shares in Zijing International Financial Holdings, with an accumulated unrealized loss of HK$12,279,774 as of June 30, 2023[133] - The Group held 1,423,000 shares in China Fortune Financial Group, with an accumulated unrealized loss of HK$2,063,930 as of June 30, 2023[137] - The Group held 180,000 shares in Worldgate and recorded an accumulated unrealized loss of HK$2,258,100 in respect of such investment as of 30 June 2023[146] - The Group held 12,240,000 shares in China Star Group with an accumulated unrealized loss of HK$93,455[168] - The Group acquired 3,000,000 shares of Differ during the year, recording an accumulated unrealized loss of HK$540,000[172] - STAR CM Holdings Limited disposed of 26,400 shares with a realized gain of HK$1,400,000 during the year under review[180] - As of 30 June 2023, the Group held 213,600 shares in STAR CM with an accumulated unrealized gain of HK$17,387,040[180] Cultural Products and Assets - The Group's cultural products, including precious stones and artifacts, had a book value of approximately HK$ 1.26 million as of June 30, 2023, down from approximately HK$ 8.12 million as of June 30, 2022[103] - As of June 30, 2023, the value of cultural products in the group's inventory was approximately HK$1.26 million, a significant decrease from approximately HK$8.12 million on June 30, 2022[108] - The group holds a total of 225 cultural products, unchanged from the previous year, stored in a secure facility operated by a renowned security company[109]