Financial Performance - For the fiscal year ending December 31, 2024, the company's revenue decreased significantly from approximately HKD 264,515,000 to about HKD 236,371,000, representing a decline of approximately 10.6%[11] - The company reported a loss of approximately HKD 386,605,000 for the year, a substantial increase from a loss of about HKD 73,220,000 in the previous year[12] - The loss attributable to shareholders was approximately HKD 251,341,000, compared to a loss of HKD 47,026,000 in the previous year[13] - The company recognized a one-time fair value loss on investment properties of approximately HKD 158.8 million and an impairment loss on properties held for sale of about HKD 90.8 million[14] Operational Strategy - The company maintained strong sales performance, exceeding market averages, and achieved stable growth in rental income, particularly in core commercial properties[15] - The company plans to leverage advanced technologies, such as artificial intelligence (AI), to further reduce operational costs and improve efficiency[16] - The company is actively adjusting its financing structure to lower costs and has effectively reduced financial expenditures through precise capital operations[15] - The company aims to optimize its real estate asset portfolio, focusing on high-quality and high-potential assets to enhance asset value[7] - The company is committed to a cautious and prudent development strategy to ensure sustainable growth in a competitive market[16] Financial Position - As of December 31, 2024, the group's cash and cash equivalents amounted to approximately HKD 43,969,000, an increase from HKD 40,925,000 as of December 31, 2023[18] - The total current assets as of December 31, 2024, were approximately HKD 529,482,000, down from HKD 715,847,000 as of December 31, 2023, while total current liabilities increased to approximately HKD 884,723,000 from HKD 728,705,000[19] - The total interest-bearing borrowings as of December 31, 2024, were approximately HKD 577,328,000, a decrease from HKD 641,305,000 as of December 31, 2023, with a significant portion due within one year[20] - The debt-to-equity ratio as of December 31, 2024, was approximately 242%, up from 127% as of December 31, 2023[21] Corporate Governance - The company has complied with all provisions of the corporate governance code, except for the separation of the roles of chairman and CEO, which remains vacant[49] - The board consists of seven members, including four executive directors and three independent non-executive directors, ensuring a balanced professional knowledge and experience to meet the company's business needs[52] - The company is committed to establishing good corporate governance practices and has provided monthly updates to all board members[54] - The company has a dedicated audit committee and remuneration committee to oversee financial reporting and compensation matters[49] Risk Management - The company established a risk management framework consisting of two main components: risk management structure and risk management procedures[115] - The board of directors is responsible for establishing the risk management framework and policies, continuously monitoring the effectiveness of the risk management and internal control systems, and reviewing them at least annually[116] - The management team is tasked with identifying and continuously monitoring strategic, operational, financial, reporting, and compliance risks, reporting changes to the board and audit committee[119] - The company has completed a review of its risk management framework and procedures during the fiscal year, reporting the risk assessment results to the board and audit committee[128] Shareholder Communication - The company is committed to high levels of disclosure and financial transparency to its shareholders and investors[170] - The company has established multiple communication channels for shareholders to provide feedback and inquiries[170] - The board is responsible for ensuring balanced and clear assessments of the company's financial condition and prospects for shareholders[165] - The company has adopted the latest shareholder communication policy effective from January 1, 2022, aimed at ensuring timely, clear, and reliable information is provided to shareholders[174] Internal Controls - The company aims to enhance internal controls and has implemented corrective measures based on recommendations from internal control consultants[162] - The internal control consultant identified significant internal control deficiencies and made recommendations for improvement[138] - The company will implement a credit risk management system, including setting credit limits and conducting periodic credit assessments[159] - The company must enhance measures to identify potential fraud risks, including financial anomaly analysis and historical background checks[144] Board Diversity and Composition - The company has adopted a new board diversity policy effective from January 1, 2022, emphasizing the importance of a diverse board for long-term stability and performance[93] - The board consists of five male directors and two female directors, achieving gender diversity and possessing appropriate skills and expertise for the company's business[108] - The company aims to maintain a board that reflects diverse experiences and perspectives to enhance decision-making and stakeholder interests[94] - The nomination committee is responsible for evaluating potential board candidates based on various criteria, including professional qualifications and experience[90]

Financial Performance - Total revenue for the year ended December 31, 2024, was HKD 236,371,000, a decrease of 10.6% from HKD 264,515,000 in 2023[9] - Gross profit for the year was HKD 16,393,000, down 72.6% from HKD 59,924,000 in the previous year[2] - The company reported a net loss of HKD 386,605,000 for the year, compared to a loss of HKD 73,220,000 in 2023, representing a significant increase in losses[3] - Basic and diluted loss per share for the year was HKD 20.5, compared to HKD 3.8 in the previous year[3] - The group reported a total segment loss of HKD 252,609,000 for 2024, compared to a profit of HKD 92,490,000 in 2023, indicating a significant deterioration in performance[20] - The group incurred a pre-tax loss of HKD 400,625,000 in 2024, compared to a pre-tax loss of HKD 14,640,000 in 2023, highlighting a substantial increase in losses[17] - The annual loss for the company was approximately HKD 251,341,000 for the year ending December 31, 2024, compared to a loss of HKD 47,026,000 in 2023[27] - The increase in loss was mainly attributed to a revenue decrease of approximately 10.6%, a decline in gross margin due to the sale of lower-margin properties, and a one-time fair value loss on investment properties of about HKD 158.8 million[51] Assets and Liabilities - Total assets less current liabilities decreased to HKD 1,256,814,000 from HKD 1,903,643,000 in 2023, indicating a decline in financial position[5] - Non-current assets decreased to HKD 1,612,055,000 from HKD 1,916,501,000, reflecting a reduction in property and investment holdings[5] - The company’s total liabilities increased to HKD 884,723,000 from HKD 728,705,000, indicating a rise in financial obligations[5] - The company’s equity attributable to owners decreased to HKD 238,345,000 from HKD 506,710,000, showing a significant reduction in shareholder equity[6] - The group’s total liabilities increased to HKD 1,411,862,000 in 2024 from HKD 1,480,052,000 in 2023, showing a slight reduction of about 4.6%[22] - As of December 31, 2024, the company's total current assets were approximately HKD 529,482,000, down from about HKD 715,847,000 in 2023, while total current liabilities increased to approximately HKD 884,723,000 from HKD 728,705,000[57] - The company's total borrowings amounted to approximately HKD 577,328,000, a decrease from HKD 641,305,000 in the previous year, with a debt-to-equity ratio of approximately 242%[58] Revenue Segments - Revenue from property sales was HKD 201,405,000, an increase from HKD 185,076,000 in 2023, indicating growth in this segment[9] - For the fiscal year ending December 31, 2024, the company's revenue decreased significantly from approximately HKD 264,515,000 to about HKD 236,371,000, primarily due to rental income and sales from business apartments and offices in Shenzhen, which accounted for 8% and 85% of total revenue respectively[49] - Rental income for the year is approximately HKD 19,753,000, compared to HKD 23,058,000 in 2023, indicating a decrease of about 14%[39] Costs and Expenses - Financing costs decreased to HKD 42,198,000 in 2024 from HKD 46,885,000 in 2023, reflecting a reduction of approximately 10.5%[15] - The land appreciation tax expense for 2024 was HKD 26,405,000, significantly lower than HKD 48,168,000 in 2023, a decrease of approximately 45.2%[16] - The company reported a decrease in employee costs, with salaries, bonuses, and allowances totaling HKD 12,180,000 in 2024, down from HKD 12,576,000 in 2023[26] - The total employee cost for the year was approximately HKD 12,924,000, down from HKD 13,493,000 in 2023, with 111 employees as of December 31, 2024[71] Shareholder Information - The company does not recommend the distribution of any dividends for the year ending December 31, 2024, consistent with the previous year[42] - The company completed a share consolidation on April 26, 2024, merging every 20 existing shares of HKD 0.01 into one share of HKD 0.20[43] - As of December 31, 2024, the company's issued share capital was HKD 2,449,554, with a total of 12,247,770 shares issued at a par value of HKD 0.20 each[61] - The company issued convertible bonds totaling HKD 95,896,475.43 on October 31, 2022, which matured on April 30, 2024[62] - A new convertible bond issuance of HKD 100,969,093.34 was completed on May 6, 2024, following the settlement of the old bonds[64] - The new convertible bonds can be converted into approximately 38,834,266 new ordinary shares at an adjusted conversion price of HKD 2.6 per share, increasing the subscriber's equity from approximately 55.25% to 89.27%[64] Corporate Governance - The audit committee reviewed the audited consolidated financial statements and confirmed compliance with applicable accounting standards and regulations[78] - The company is committed to maintaining good corporate governance practices and will review its board structure periodically[76] - The board consists of four executive directors and three independent non-executive directors as of the announcement date[85] - The chairman and CEO roles are currently separated, with the chairman position held by Mr. Ma Hsueh-Mien, while the CEO position remains vacant[76] Legal and Compliance - The company has made sufficient provisions for compensation and interest related to a legal case as of December 31, 2024[46] - The company has a significant legal case pending, but it is not expected to have a major impact on operations[46] - The company has received the first distribution of bankruptcy claims amounting to RMB 2,776,626.85 as part of a legal settlement[47] - The company has made a provision for litigation losses, increasing from approximately HKD 0.7 million in 2023 to about HKD 34.3 million in 2024[54] - There have been no significant post-reporting date events up to the announcement date[82] Strategic Focus - The company plans to utilize advanced technologies such as artificial intelligence (AI) to further reduce operational costs and improve efficiency, indicating a strategic focus on technological integration[55] - The company is actively adjusting its financing structure to lower costs and improve capital efficiency, while also disposing of non-core assets to enhance cash flow[55] - The company has not entered into any hedging transactions during the year, although it acknowledges the foreign exchange risk due to fluctuations in the RMB to HKD exchange rate[60] - The company has no major investments or acquisitions planned for 2025 but will continue to seek opportunities for business diversification and acquisitions[67]

F 釣 濠 集 團 有 限 公 司 * GRAND FIELD GROUP HOLDINGS LIMITED (於百翡蓬註冊成立之有限公司) (股份代號:115) TV P 2024 中期報告 目錄 頁次 公司資料 2 簡明綜合損益表 4 簡明綜合其他全面收益表 5 簡明綜合財務狀況表 6 簡明綜合權益變動表 8 簡明綜合現金流量表 9 簡明綜合財務報表附註 10 管理層討論及分析 29 其他資料 38 1 鈞濠集團有限公司 二零二四年中期報告 | --- | --- | |------------|----------| | | | | 公司資料 | | | 執行董事 | | | 馬學綿先生 | （主席） | | 郭小彬先生 | | | 周桂華女士 | | | 郭小華女士 | | 獨立非執行董事 | --- | --- | --- | |------------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 許培偉先生 | | | | | | | | | | | | | | | | | | ...

Financial Performance - Revenue for the six months ended June 30, 2024, was HKD 93,698,000, a decrease of 15.1% compared to HKD 110,349,000 for the same period in 2023[1]. - Gross profit increased to HKD 31,705,000, up 19.5% from HKD 26,640,000 year-on-year[1]. - Operating loss improved to HKD (7,305,000), a reduction of 33.0% from HKD (11,027,000) in the previous year[2]. - Total comprehensive loss for the period was HKD (64,575,000), down 38.0% from HKD (104,182,000) in the same period last year[3]. - The company reported a basic loss per share of HKD (210.7), an improvement from HKD (253.7) in the previous year[2]. - The group recorded a loss attributable to shareholders of approximately HKD 25,808,000, an improvement from a loss of HKD 31,068,000 in the same period last year[36]. - The gross profit margin improved from approximately 24.1% for the six months ended June 30, 2023, to approximately 33.8% for the same period in 2024[36]. Assets and Liabilities - Non-current assets totaled HKD 1,864,956,000, a decrease of 2.7% from HKD 1,916,501,000 as of December 31, 2023[4]. - Current liabilities decreased to HKD 259,709,000 from HKD 293,625,000, reflecting a reduction of 11.5%[6]. - Cash and cash equivalents were HKD 35,369,000, down from HKD 40,925,000, indicating a decrease of 13.9%[5]. - The net asset value was HKD 1,087,721,000, down from HKD 1,152,296,000, representing a decline of 5.6%[6]. - Total assets of the group as of June 30, 2024, amounted to HKD 2,308,595,000, while total liabilities were HKD 503,769,000, resulting in a net asset position[15]. - Total current assets as of June 30, 2024, were approximately HKD 646,655,000, down from HKD 715,847,000 as of December 31, 2023[38]. - The group's total assets as of June 30, 2024, were approximately HKD 2,511,611,000, compared to HKD 2,632,348,000 as of December 31, 2023[38]. - The group's interest-bearing borrowings totaled approximately HKD 619,368,000 as of June 30, 2024, down from HKD 641,305,000 as of December 31, 2023[38]. - The group's debt-to-equity ratio was approximately 132% as of June 30, 2024, compared to 127% as of December 31, 2023[38]. Operational Highlights - The company continues to focus on property development and investment, with no new product launches or acquisitions reported during this period[7]. - The group incurred a loss before tax of HKD 34,155,000 for the six months ended June 30, 2024, compared to a loss of HKD 44,761,000 for the same period in 2023, indicating an improvement of approximately 23.6%[14]. - The group plans to sell non-core assets to reduce leverage and optimize its debt structure, aiming to lower financing costs and enhance financial stability[32]. - The group aims to reduce operating costs and improve operational efficiency in response to external economic uncertainties[33]. - The group will continue to seek new market opportunities through diversification to achieve long-term goals[34]. Legal and Compliance - The company is currently involved in several legal disputes, but management believes these will not have a significant impact on operations[28]. - The company reported a legal provision of HKD 46,382,000 related to a legal case, down from HKD 48,522,000, a decrease of 4.4%[25]. - The company has made a further provision of approximately HKD 342,000 related to a legal case as of June 30, 2024[28]. - The company has not applied new or revised Hong Kong Financial Reporting Standards that have been issued but are not yet effective, and currently assesses their potential impact on operations[3]. Shareholder Information - The group did not declare or propose any dividends for the six months ended June 30, 2024, consistent with the previous year[22]. - No interim dividend has been recommended for the reporting period[51]. - The company completed a share consolidation on April 26, 2024, merging every 20 shares of HKD 0.01 into one share of HKD 0.20[27]. Audit and Governance - The audit committee was established on August 4, 1999, and its latest terms of reference were adopted on January 1, 2019[55]. - The audit committee's main responsibilities include overseeing the integrity of the company's annual and interim reports, reviewing significant reporting judgments, and assessing the effectiveness of the group's risk management systems[55]. - The company has implemented corrective measures based on the internal control consultant's recommendations, which have strengthened the internal control of business operations[57]. - No significant post-reporting events have occurred within the group from the reporting period until the date of this announcement[57]. Employee and Staffing - The group employed 134 staff as of June 30, 2024, with employee costs amounting to HKD 9,691,000, reflecting a 5.0% increase compared to the previous year[48]. Financial Instruments - The company has not implemented any foreign currency hedging policies and will monitor foreign currency risks closely[43]. - The company has extended the repayment period for old convertible bonds to June 30, 2024, without defaulting on repayments during the interim[41]. - The company has conditionally agreed to issue convertible bonds with a principal amount ranging from HKD 100,869,000 to HKD 101,912,000, with a 6% interest rate over a 36-month term[41]. - The outstanding principal amount of the old convertible bonds was HKD 95,896,475.43, with accrued interest of approximately HKD 4,973,130.08, leading to the issuance of new convertible bonds totaling HKD 100,969,093.34[41]. - Upon full exercise of the conversion rights at a conversion price of HKD 2.6 per share, the subscriber will receive 38,834,266 new ordinary shares, increasing their ownership from approximately 55.25% to 89.27%[41].

Financial Performance - The company's revenue increased significantly from approximately HKD 139,285,000 in the previous year to approximately HKD 264,515,000 for the year ended December 31, 2023[8]. - The loss for the year was approximately HKD 73,220,000, a substantial decrease from a loss of approximately HKD 593,714,000 in the previous year[9]. - The group achieved a gross profit of approximately HKD 59,924,000, up from HKD 18,999,000 in the previous year[11]. - Cash and cash equivalents as of December 31, 2023, were approximately HKD 40,925,000, an increase from approximately HKD 25,418,000 a year earlier[15]. - The company reported a loss attributable to shareholders of approximately HKD 47 million for the year ended December 31, 2023[171]. Expenses and Liabilities - Administrative expenses decreased from approximately HKD 61,648,000 to approximately HKD 49,126,000[11]. - The total interest-bearing borrowings amounted to approximately HKD 641,305,000, down 1.8% from HKD 648,475,000 in the previous year[17]. - The debt-to-equity ratio was approximately 127% as of December 31, 2023, compared to 114% as of December 31, 2022, indicating increased leverage[18]. - The company has a net current liability of HKD 12.9 million as of December 31, 2023[171]. - The company has classified bank loans with a book value of approximately HKD 64.9 million as repayable on demand due to non-compliance with certain financial covenants in the loan agreements[171]. Business Strategy and Growth - The company plans to continue optimizing its business structure and exploring new growth points while focusing on innovation in technology and services[4]. - The group aims to maintain a cautious yet optimistic approach to business, actively seeking innovation and growth opportunities in the market[12]. - The group plans to continue expanding its existing business and exploring new business opportunities in 2024, with a focus on mergers and acquisitions to enter new markets[27]. - Future outlook includes a projected revenue growth of 10% for the next fiscal year, driven by new product launches and market expansion strategies[40]. - The company is considering strategic acquisitions to enhance its market position, with a budget of up to HKD 20 million earmarked for potential targets[47]. Investments and Commitments - The group has significant commitments for investment properties and properties under development amounting to HKD 71,116,000 as of December 31, 2023, down from HKD 91,715,000 in the previous year[23]. - The group has pledged properties with a carrying amount of approximately HKD 1,748,285,000 as collateral for bank loans and other borrowings[24]. - The group issued convertible bonds totaling HKD 95,896,475.43, which could potentially increase the issued share capital by approximately 28.92% to 64.99% if fully converted[22]. Corporate Governance - The company has complied with all provisions of the corporate governance code except for the separation of the roles of Chairman and CEO, which remains unfilled[50]. - The board consists of seven members, with four executive directors and three independent non-executive directors, ensuring a balance of professional knowledge and experience[53]. - The board held a total of seven meetings and one annual general meeting during the year, with full attendance from all directors[56]. - The company has adopted a code of conduct for securities transactions by directors, with no known breaches during the year[51]. - The company is committed to continuous professional development for all directors, who participated in training sessions covering corporate governance, regulatory, and financial topics[59]. Risk Management and Internal Controls - The company has established a risk management framework to identify, assess, respond to, and monitor risks and their changes[132]. - The internal control system includes clear policies and procedures defining responsibilities, authorizations, and accountability across departments[136]. - An independent internal control consultant has been appointed to review the company's risk management procedures and internal control system effectiveness[139]. - The audit committee has not identified any events that would suggest the company's risk management and internal control systems are inadequate or ineffective[139]. - The company has established a whistleblowing mechanism to encourage employees to report misconduct or fraud[136]. Shareholder Communication - The company emphasizes effective communication with shareholders and investors through various channels, including interim and annual reports, and encourages shareholder participation in annual general meetings[178]. - The board is responsible for maintaining ongoing dialogue with shareholders and ensuring high levels of disclosure and financial transparency[183]. - The company must send the annual report to shareholders at least 21 days before the annual general meeting and the interim report within three months after the end of the first six months of each accounting year[190]. - The company emphasizes the importance of shareholder privacy and will not disclose shareholder information without consent, except as required by law[200]. - The board will review the shareholder communication policy annually or as needed to assess its effectiveness and improve communication channels[196].

Financial Performance - Total revenue for the year ended December 31, 2023, was HKD 264,515,000, representing a 90% increase from HKD 139,285,000 in 2022[3] - Gross profit for the year was HKD 59,924,000, compared to HKD 18,999,000 in the previous year, indicating a significant improvement[3] - The company reported a net loss of HKD 73,220,000 for 2023, a reduction from a loss of HKD 593,714,000 in 2022, showing a substantial decrease in losses[4] - Basic and diluted loss per share improved to HKD 19.2 from HKD 160.3 in the previous year[4] - The group reported a pre-tax loss of HKD 14,640,000 for 2023, a substantial improvement compared to a loss of HKD 683,939,000 in 2022[22] - The group reported a loss of approximately HKD 47,026,000 for the year ended December 31, 2023, compared to a loss of HKD 392,648,000 in 2022, indicating a significant improvement in performance[33] - The group’s tax expense for the year was HKD 58,580,000, compared to a tax credit of HKD 90,225,000 in the previous year, indicating a shift towards profitability[22] Assets and Liabilities - The company’s total assets less current liabilities amounted to HKD 1,903,643,000, down from HKD 2,075,974,000 in 2022[8] - Non-current assets decreased to HKD 1,916,501,000 from HKD 1,980,193,000 year-over-year[8] - The company’s total liabilities decreased to HKD 1,480,052,000 from HKD 1,576,103,000, reflecting improved financial health[9] - Total assets as of December 31, 2023, amounted to HKD 2,632,348,000, a decrease from HKD 2,821,259,000 in 2022, primarily due to asset revaluation[27] - The group’s liabilities increased slightly to HKD 1,480,052,000 in 2023 from HKD 1,562,103,000 in 2022, indicating stable financial leverage[27] - The group’s total liabilities decreased from HKD 412,323,000 in 2022 to HKD 293,625,000 in 2023, indicating improved financial stability[39] Revenue Segments - The company generated HKD 185,076,000 from property sales, up from HKD 108,941,000 in 2022, reflecting strong performance in this segment[14] - The property development segment generated revenue of HKD 185,076,000, while the hotel operations segment contributed HKD 7,710,000, indicating a recovery in these areas[26] - Rental income for the year was approximately HKD 23,058,000 in 2023, an increase from HKD 18,657,000 in 2022, representing a growth of about 23.0%[50] Cost Management - The company’s financing costs decreased to HKD 46,885,000 from HKD 50,982,000, contributing to the reduction in overall losses[3] - Financing costs decreased to HKD 46,885,000 in 2023 from HKD 50,982,000 in 2022, reflecting better cost management[20] - Employee costs, including salaries and bonuses, decreased from HKD 13,244,000 in 2022 to HKD 12,576,000 in 2023, reflecting cost management efforts[32] - The total employee cost for the year was approximately HKD 13,493,000, down from HKD 14,105,000 in 2022, with 125 employees as of December 31, 2023[81] Investment and Future Plans - The company plans to continue focusing on market expansion and new product development to drive future growth[12] - The company plans to continue a diversified development strategy and optimize its asset portfolio while maintaining a cautious and optimistic operational approach[65] - The company plans to continue focusing on expanding existing businesses and exploring new business opportunities in 2024, including seeking acquisition deals to enter new markets[76] Legal Matters - The company is involved in ongoing legal disputes, but the board believes these will not have a significant impact on operations[55] - The company has a legal claim for RMB 30,426,958.91 against Zhejiang Beishen Cultural Tourism Development Co., Ltd., with no appeals filed after the initial judgment[58] Shareholder Information - The company did not recommend any dividend distribution for the year ending December 31, 2023, consistent with the previous year[52] - The board did not recommend the payment of a final dividend for the year, consistent with the previous year[84] - The company has issued 244,955,413 shares and convertible bonds as of January 9, 2024, with a potential conversion of up to 252,359,145 shares from existing convertible bonds[93] Miscellaneous - The company has no single customer contributing over 10% of total revenue, maintaining a diversified customer base[30] - The company has not entered into any hedging transactions during the year, despite facing foreign exchange risks due to fluctuations in the RMB to HKD exchange rate[71] - The company remains confident in seizing new market opportunities while ensuring steady growth and innovation[65]

Financial Performance - Revenue for the six months ended June 30, 2023, was HKD 110,349,000, representing a 48.8% increase from HKD 74,186,000 in the same period of 2022[5] - Gross profit for the same period was HKD 26,640,000, compared to HKD 3,972,000 in 2022, indicating a significant improvement[5] - The operating loss decreased to HKD 11,027,000 from HKD 565,835,000 year-over-year, reflecting a substantial reduction in losses[5] - The net loss for the period was HKD 49,254,000, down from HKD 478,258,000 in the previous year, showing a marked improvement in financial performance[5] - Basic and diluted loss per share improved to HKD 12.7 from HKD 130.0, indicating a recovery in earnings per share[5] - The company reported a total comprehensive loss of HKD 104,182,000 for the period, compared to HKD 560,857,000 in the previous year, reflecting a positive trend[6] - The company reported a net loss of HKD 318,455,000 for the six months ended June 30, 2023, compared to a loss of HKD 478,258,000 for the same period in 2022, indicating a decrease in losses by approximately 33.5%[11] - The total comprehensive loss for the period was HKD 365,967,000, compared to HKD 560,857,000 in the previous year, showing an improvement of approximately 34.7%[11] - The company reported a significant other loss of HKD 478,573,000, which impacted overall financial performance[19] - The company’s total equity as of June 30, 2023, was HKD 1,154,777,000, reflecting a decrease from HKD 1,996,045,000 at the beginning of the year[11] Assets and Liabilities - Total assets decreased to HKD 2,676,174,000 as of June 30, 2023, from HKD 2,821,167,000 at the end of 2022[8] - Non-current assets decreased to HKD 1,872,370,000 from HKD 1,980,193,000, indicating a reduction in long-term investments[8] - The company's total liabilities as of June 30, 2023, were HKD 454,335,000, a decrease from HKD 478,998,000 as of December 31, 2022[37] - The group's total assets as of June 30, 2023, were approximately HKD 2,669,174,000, down from HKD 2,821,259,000 as of December 31, 2022[80] - The group's interest-bearing borrowings amounted to approximately HKD 671,411,000 as of June 30, 2023, compared to HKD 648,475,000 as of December 31, 2022[81] - The debt-to-equity ratio as of June 30, 2023, was approximately 131.3%, an increase from 114% as of December 31, 2022[81] Cash Flow and Liquidity - Cash and cash equivalents increased significantly to HKD 66,482,000 from HKD 25,418,000, indicating improved liquidity[8] - Cash and cash equivalents at the end of the period increased to HKD 66,482,000 from HKD 59,257,000, marking an increase of about 12.5%[13] - The company generated a net cash inflow from operating activities of HKD 81,000, a decrease from HKD 21,288,000 in the previous year, reflecting a decline of approximately 99.6%[13] - As of June 30, 2023, the group's cash and cash equivalents amounted to approximately HKD 66,482,000, up from HKD 25,418,000 as of December 31, 2022[79] Operational Strategy - The company plans to continue focusing on cost management and operational efficiency to further improve financial results in the future[5] - The company plans to continue its investment in property development and general trading to enhance future revenue streams[15] - The company plans to sell non-core assets to reduce leverage and debt levels while also aiming to decrease operating costs to mitigate external uncertainties[74] - The group will continue to seek new opportunities to achieve long-term goals while maintaining a cautious optimism regarding economic outlook[77] Legal and Compliance - The company is currently involved in a legal dispute regarding a construction contract, with a potential liability of approximately RMB 15,480,000 (approximately HKD 18,000,000) plus interest[64] - The company is in the process of negotiating with banks to renew its bank loan agreements due to non-compliance with certain financial covenants[57] - The company has not reported any significant litigation or claims that could adversely affect its operations as of the report date[66] - The group has adopted all new and revised Hong Kong Financial Reporting Standards effective from January 1, 2023, with no significant impact on accounting policies or financial statements[22] Shareholder Information - Major shareholders include Rhenfield Development Corp. with a 28.73% stake, and other significant shareholders with varying percentages, including 131.94% held by certain individuals through controlled entities[108] - The company has a total of 24,495,541 share options available for grant under the share option scheme, representing approximately 10% of the total issued shares[112] - The board does not recommend the distribution of an interim dividend for the reporting period[105] Employment and Remuneration - The group employed 136 staff as of June 30, 2023, up from 132 on December 31, 2022, with employee costs totaling HKD 9,229,000, reflecting a 28.8% increase compared to HKD 7,165,000 for the same period last year[94] - The total remuneration for the company's directors for the six months ended June 30, 2023, was HKD 1,022,000, compared to HKD 1,003,000 for the same period in 2022[59] - The salaries and allowances for two major shareholders remained unchanged at HKD 330,000 and HKD 300,000 respectively for the six months ended June 30, 2023[59]

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佈之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公佈全部或任何部 份內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 鈞 濠 集 團 有 限 公 司 GRAND FIELD GROUP HOLDINGS LIMITED （於百慕達註冊成立之有限公司） (股份代號：���) 截至二零二三年六月三十日止六個月之中期業績公佈 鈞濠集團有限公司（「本公司」）董事（「董事」）會（「董事會」）謹此公佈本公司及其附屬 公司（統稱為「本集團」）截至二零二三年六月三十日止六個月之未經審核簡明綜合中 期業績及比較數字載列如下： 簡明綜合損益表 截至二零二三年六月三十日止六個月 截至六月三十日止六個月 二零二三年 二零二二年 附註 港幣千元 港幣千元 （未經審核 ...

Financial Performance - Revenue for the year ended December 31, 2022, decreased significantly to approximately HKD 139,285,000 from about HKD 543,280,000 in the previous year, representing a decline of approximately 74.3%[9] - The loss for the year was approximately HKD 593,714,000, compared to a loss of HKD 377,947,000 in the previous year, indicating an increase in losses of about 57%[9] - Cash and cash equivalents as of December 31, 2022, were approximately HKD 25,418,000, down from HKD 51,582,000 in the previous year, a decrease of about 50.8%[12] - The company reported a loss attributable to shareholders of approximately HKD 392.6 million for the year[145] - The net cash flow used in operating activities was approximately HKD 72.1 million[145] Assets and Liabilities - The total assets as of December 31, 2022, were approximately HKD 2,821,259,000, down from HKD 3,750,128,000 in the previous year, reflecting a decrease of about 24.8%[13] - The total interest-bearing borrowings amounted to approximately HKD 648,475,000, a decrease from HKD 675,330,000 in the previous year, showing a reduction of about 4%[14] - The debt-to-equity ratio was approximately 114% as of December 31, 2022, compared to 65% in the previous year, indicating a significant increase in leverage[15] Strategic Plans - The group plans to focus on completing the leasing and operation of all properties in 2023 to increase occupancy rates and optimize the asset portfolio[10] - The group intends to sell non-core assets to reduce the debt ratio and improve cash flow amidst a recovering market post-COVID[10] - The group aims to adopt a cautiously optimistic approach in 2023 to enhance cash flow and improve financial metrics on the balance sheet[5] Corporate Governance - The company has complied with all provisions of the Corporate Governance Code, except for the separation of the roles of Chairman and CEO, which remains unfilled[50] - The board consists of seven members, with four executive directors and three independent non-executive directors, ensuring a balance of professional knowledge and experience[53] - The company has established good corporate governance practices and procedures to ensure accountability and transparency[50] - The board is responsible for approving and monitoring the overall strategy and policies of the group[53] Board Composition and Diversity - The board consists of five male directors and two female directors, achieving gender diversity as per the company's policy[118] - The company emphasizes the importance of diversity in the board to support strategic goals and sustainable development, with a focus on merit-based selection[104] - The board's composition should reflect a balance of executive, non-executive, and independent non-executive directors to facilitate informed decision-making[107] Risk Management - The company has established a risk management framework consisting of two main components: risk management structure and risk management procedures[126] - The board of directors is responsible for establishing the risk management framework and policies, continuously monitoring the effectiveness of the risk management and internal control systems at least once a year[127] - The management is responsible for identifying and continuously monitoring strategic, operational, financial, reporting, and compliance risks during daily operations[132] Shareholder Communication - The company emphasizes effective communication with shareholders and investors through various channels, including interim and annual reports[152] - The company encourages shareholder participation in annual general meetings and ensures that key committee chairs are present to answer questions[160] - The board of directors must review the effectiveness of shareholder communication policies annually[171] Employee and Management - The group employed 132 staff members as of December 31, 2022, with total employee costs (including director remuneration) approximately HKD 14,105,000, a slight decrease from HKD 14,496,000 in 2021[30] - The management team is responsible for daily operations while retaining certain important matters for board approval[53] ESG Commitment - The company is committed to environmental, social, and governance (ESG) practices, with a dedicated committee in place[32] - The ESG committee, established in 2012, oversees the company's environmental, social, and governance strategies and policies[122]

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佈之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公佈全部或任何部 份內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 鈞 濠 集 團 有 限 公 司 GRAND FIELD GROUP HOLDINGS LIMITED （於百慕達註冊成立之有限公司） (股份代號：���) 截至二零二二年十二月三十一日止年度之全年業績公佈 鈞濠集團有限公司（「本公司」）董事（「董事」）會（「董事會」）謹此公佈本公司及其附屬 公司（統稱「本集團」）截至二零二二年十二月三十一日止年度之綜合業績，連同二零 二一年之比較數字如下。 綜合損益表 截至二零二二年十二月三十一日止年度 二零二二年 二零二一年 附註 港幣千元 港幣千元 3 139,285 543,280 收益 (120,286) (307,638) 收益成本 ...