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分內容而產生或 因倚賴該等內容而引致的任何損失承擔任何責任。 Gemini Investments (Holdings) Limited 盛 洋 投 資（ 控 股 ）有 限 公 司 （ 於 香 港 註 冊 成 立 之 有 限 公 司 ） （股份代號：174） 截至二零二五年六月三十日止六個月 中期業績公佈 盛洋投資（控股）有限公司（「本公司」）董事局（「董事」或「董事局」）欣然公佈本公司與其附屬 公司（合稱「本集團」或「我們」）截至二零二五年六月三十日止六個月（「二零二五年中期期間」） 的未經審核中期業績。本集團的未經審核中期業績已由本公司的審核委員會審閱。 二零二五年上半年，本集團錄得總收入港幣412,000,000元（截至二零二四年六月三十日止六 個月（「二零二四年中期期間」）：港幣596,000,000元），及錄得分屬於本公司股東的虧損約港 幣118,000,000元（二零二四年中期期間：分屬於本公司股東的虧損港幣30,000,000元）。虧損 擴大主要是因 ...

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。 Gemini Investments (Holdings) Limited 174 董事局會議召開日期 盛洋投資（控股）有限公司（「本公司」）董事局（「董事局」）謹此宣佈本公司將於二零二五年 八月十八日（星期一）召開董事局會議，藉以審議（其中包括）批准本公司及其附屬公司截 至二零二五年六月三十日止六個月的中期業績、派發中期股息（如有），以及處理其他事 項。 承董事局命 盛洋投資（控股）有限公司 執行董事兼首席執行官 黎國鴻 香港，二零二五年八月六日 於本公告刊發日期，本公司董事包括： | 執行董事： | 非執行董事： | 獨立非執行董事： | | --- | --- | --- | | 沈培英先生 | 唐潤江先生 | 盧煥波先生 | | 黎國鴻先生 | | 李世佳先生 | | 林依蘭女士 | | 梁偉雄先生 | ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | 截至月份: | 2025年7月31日 | 狀態: 新提交 | | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | 公司名稱: | 盛洋投資(控股)有限公司 | | | 呈交日期: | 2025年8月1日 | | | I. 法定/註冊股本變動 不適用 | | | FF301 第 1 頁 共 11 頁 v 1.1.1 第 2 頁 共 11 頁 v 1.1.1 FF301 III.已發行股份及/或庫存股份變動詳情 FF301 II. 已發行股份及/或庫存股份變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00174 | 說明 | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 635,570,000 | ...

Financial Performance - The company reported revenue of HKD 1,047,591,000 for 2024, a decrease of 1.9% from HKD 1,061,755,000 in 2023[3]. - Loss attributable to shareholders for 2024 was HKD 94,836,000, significantly improved from a loss of HKD 655,881,000 in 2023[3]. - The total asset value as of December 31, 2024, was HKD 10,118,632,000, down from HKD 10,534,179,000 in 2023[3]. - The company generated total income of HKD 743,000,000 from its investment properties in the US, a decrease from HKD 868,000,000 in 2023[13]. - The company's rental income decreased to HKD 571,508,000 in 2024 from HKD 678,760,000 in 2023, primarily due to the sale of several US investment properties since the second half of 2023[19]. - Property sales increased to HKD 293,413,000 in 2024 from HKD 185,804,000 in 2023, attributed to a development project in Brooklyn, New York[19]. - Total operating expenses decreased to HKD 530,352,000 in 2024 from HKD 601,739,000 in 2023, mainly due to the sale of US investment properties[20]. - The fair value loss on investment properties and assets classified as held for sale was HKD 256,000,000 in 2024, a significant improvement from a loss of HKD 997,000,000 in 2023[24]. - The company's cash resources decreased to HKD 374,000,000 in 2024 from HKD 456,000,000 in 2023, primarily due to the repayment of several mortgage loans[29]. - Financial expenses related to loans decreased by HKD 70,000,000 to HKD 330,000,000 in 2024 due to the repayment of certain borrowings[27]. - The company recorded interest income of HKD 12,000,000 in 2024, up from HKD 6,000,000 in 2023[25]. - The company reported a distributable reserve of HKD 453 million as of December 31, 2024, up from HKD 286 million as of December 31, 2023, indicating a significant increase of 58.4%[77]. - The board does not recommend the distribution of a final dividend for the year for both convertible preference shares and ordinary shares[70]. Investment and Asset Management - The company plans to continue optimizing its asset portfolio while closely monitoring tenant needs[14]. - The company’s investment properties in Hong Kong generated rental income of HKD 8,000,000, up from HKD 7,000,000 in 2023, with an average occupancy rate of 100%[17]. - The average occupancy rate for investment properties in the US was 73% for 2024[13]. - The company raised a net amount of HKD 179,200,000 from the issuance of 90,278,000 new ordinary shares, aimed at strengthening its financial position and improving liquidity on the Hong Kong Stock Exchange[38]. - As of December 31, 2024, HKD 96,000,000 has been utilized for general operating funds related to the company's U.S. property development projects, with HKD 83,000,000 (46% of the net proceeds) remaining unutilized for real estate investments[39]. - The company plans to allocate approximately USD 10,000,000 to USD 12,000,000 (equivalent to HKD 77,500,000 to HKD 93,000,000) for real estate-related projects in the New York metropolitan area, representing 43% to 52% of the total net proceeds from the placement activities[38]. Employee and Operational Insights - The total employee cost for the year was HKD 85,000,000, a decrease from HKD 91,000,000 in the previous year, with GR Realty accounting for HKD 64,000,000[40]. - The company has 85 employees as of December 31, 2024, down from 88 employees the previous year[40]. - The company sponsored training programs for 85 employees, an increase from 75 employees in the previous year[149]. - The company emphasizes the importance of employee health and safety, maintaining compliance with relevant regulations[137]. - All employees are provided with competitive compensation packages and benefits to enhance retention and motivation[142]. - The company is committed to maintaining a diverse and inclusive workplace, prohibiting any form of discrimination[142]. - 100% of male and female employees received training, with average training hours of 13.1 for males and 4.5 for females[150]. Environmental, Social, and Governance (ESG) Initiatives - The company focuses on enhancing its environmental, social, and governance (ESG) performance, emphasizing responsible service provision, employee welfare, and environmental protection[114]. - The company has identified 23 key environmental, social, and governance (ESG) issues categorized into three themes: responsible employer, responsible service provider, and responsible corporate citizen[130]. - The ESG working group, chaired by an executive director, integrates ESG elements into business operations and reports annually to the board[119]. - The company has established a risk mitigation plan to ensure effective management of identified risks, including ESG-related risks[120]. - Stakeholder feedback is continuously solicited to refine the company's ESG strategies and reporting processes[122]. - The company has implemented a comprehensive human resources policy to attract and retain talent while ensuring compliance with labor laws[142]. Risk Management and Compliance - The company has identified various risks affecting its financial condition and operational performance, including market, foreign exchange, interest rate, liquidity, operational, investment, and business risks[45][46][50][52][54]. - The company has not reported any significant violations of applicable laws and regulations that would materially impact its business operations during the year[43]. - The company has maintained a directors' liability insurance policy to provide appropriate protection against legal claims against directors and their subsidiaries[84]. - The audit committee has reviewed the consolidated financial statements for the year ending December 31, 2024, and believes they are prepared in accordance with applicable accounting standards[105]. Sustainability and Environmental Impact - The company aims to reduce gasoline consumption density by 4.5% from the 2021 level (145 liters per capita) by 2030[177]. - The company targets a 14% reduction in paper waste generation density from the 2021 level (13.3 kg per capita) by 2030[177]. - The total greenhouse gas emissions for the reporting period included 2.42 tons of direct emissions (Scope 1) and 66.04 tons of indirect emissions (Scope 2), showing a significant decrease from 60.61 tons and 100.53 tons respectively in 2023[182]. - The average direct (Scope 1) emissions per capita decreased to 0.03 tons in 2024 from 0.70 tons in 2023, indicating improved operational efficiency[182]. - The company has committed to reviewing and potentially revising its environmental targets by 2030 based on operational performance[181]. - The company continues to promote green office practices, such as double-sided printing and recycling initiatives, to minimize waste generation[189].

Financial Performance - For the fiscal year ending December 31, 2024, the company reported revenue of HKD 1,048,000,000, a decrease from HKD 1,062,000,000 in 2023[3]. - The loss attributable to shareholders for 2024 was HKD 95,000,000, significantly improved from a loss of HKD 656,000,000 in 2023[3]. - Total revenue for the year ended December 31, 2024, was HKD 1,047,591 thousand, a decrease of 1.99% from HKD 1,061,755 thousand in 2023[39]. - The total comprehensive loss for the year was HKD 181,989 thousand, compared to HKD 907,159 thousand in 2023, indicating a substantial reduction in losses[40]. - The company reported a loss before tax of HKD 120,216 thousand, significantly improved from a loss of HKD 890,412 thousand in the previous year[39]. - The adjusted loss attributable to shareholders for the year 2024 is approximately HKD 95,062,000, compared to HKD 656,107,000 in 2023, indicating a significant reduction in losses by approximately 85.5%[80]. Revenue Sources - The company generated total revenue of HKD 743,000,000 from its investment properties in the U.S. for the year, down from HKD 868,000,000 in 2023, with an average occupancy rate of 73%[11]. - The company recorded property sales revenue of HKD 293,000,000 in 2024, an increase from HKD 186,000,000 in 2023, primarily from a development project in Brooklyn, New York[13]. - Revenue from the US property investment segment was HKD 742,702,000, while the US property development segment generated HKD 295,941,000, contributing to a total revenue of HKD 1,050,936,000 from operating segments[62]. Expenses and Costs - Operating expenses decreased from HKD 601,739,000 in 2023 to HKD 530,352,000 in 2024, primarily due to the sale of several US investment properties[18]. - Direct costs and operating expenses decreased to HKD 530,352 thousand from HKD 601,739 thousand, resulting in a gross profit of HKD 517,239 thousand, up 12.43% from HKD 460,016 thousand[39]. - Administrative and other expenses decreased to HKD 186,724,000 in 2024 from HKD 194,288,000 in 2023, mainly due to cost control measures[24]. - Financial costs related to loans decreased by HKD 70,000,000 to HKD 330,000,000 in 2024 due to the repayment of certain borrowings[25]. Asset and Liability Management - The company’s property development projects in the U.S. had a total book value of HKD 767,000,000 as of December 31, 2024, down from HKD 1,350,000,000 in 2023[13]. - Cash resources decreased to HKD 374,000,000 as of December 31, 2024, down from HKD 456,000,000 in 2023, with total loans amounting to HKD 3,797,000,000[27]. - The net debt ratio was 65% as of December 31, 2024, slightly up from 64% in 2023, indicating stable capital and debt management[28]. - Current liabilities rose to HKD 1,100,502 thousand from HKD 837,659 thousand, with loans increasing to HKD 652,925 thousand from HKD 385,088 thousand[44]. - The company's equity attributable to shareholders decreased to HKD 4,337,387 thousand from HKD 4,458,503 thousand, reflecting the comprehensive loss for the year[44]. Investment and Future Plans - The company plans to continue optimizing its asset portfolio and closely monitor tenant needs in the real estate market[12]. - The company anticipates utilizing the net proceeds for real estate investment projects by the fourth quarter of 2025, subject to market conditions[37]. - The company plans to allocate approximately HKD 77,500,000 to HKD 93,000,000 (43% to 52% of net proceeds) from recent fundraising activities for real estate projects in the New York metropolitan area[35]. - The company remains cautious in identifying suitable investment opportunities due to the current global economic uncertainties[37]. Market Conditions and Economic Outlook - The company expects global economic recovery to continue into 2025, although growth may slow, with potential impacts from inflation and geopolitical tensions[7]. - The company has not declared or proposed any dividends for the years ending 2024 and 2023[83]. Compliance and Governance - The company has adopted the standard code of conduct for securities trading by directors as per the listing rules, confirming compliance for the current year[96]. - The company has adhered to the corporate governance code, except for the requirement of the chairman meeting with independent non-executive directors without other directors present[97]. - The audit committee has reviewed the accounting principles and policies adopted by the group for the fiscal year ending December 31, 2024[98]. - The group's auditor has agreed that the figures in the preliminary performance announcement align with the audited consolidated financial statements for the year[99].

Financial Performance - The company reported revenue of HKD 596,312,000 for the six months ended June 30, 2024, representing an increase of 16.6% compared to HKD 511,617,000 for the same period in 2023[2]. - Loss attributable to shareholders decreased to HKD 30,310,000 in the first half of 2024 from HKD 379,245,000 in the same period of 2023, indicating a significant improvement[2]. - Total revenue for the group in 2024 was HKD 596,312,000, an increase of 16.6% compared to HKD 511,617,000 in 2023[15]. - The company reported a loss before tax of HKD 37,768,000 for the period, significantly improved from a loss of HKD 395,423,000 in the prior year[41]. - The group recorded a loss of HKD 167,000,000 from fair value changes in investment properties, an improvement from a loss of HKD 387,000,000 in the previous period[19]. - The company reported a loss of HKD 53,146,000 for the six months ended June 30, 2024, compared to a loss of HKD 411,487,000 for the same period in 2023, indicating a significant improvement in performance[42]. - Total comprehensive income for the period was HKD (56,695,000), a decrease from HKD (393,665,000) in the previous year, reflecting a reduction in overall losses[42]. Assets and Liabilities - Total assets as of June 30, 2024, were HKD 10,406,740,000, a slight decrease from HKD 10,534,179,000 as of December 31, 2023[3]. - Current assets decreased to HKD 1,778,789,000 from HKD 2,080,836,000, largely due to a reduction in properties held for sale[43]. - Current liabilities increased significantly to HKD 2,703,552,000 from HKD 837,659,000, primarily due to a rise in loans[44]. - The company's equity attributable to shareholders decreased to HKD 4,424,418,000 from HKD 4,458,503,000, reflecting the impact of losses during the period[45]. - The total liabilities as of June 30, 2024, were HKD 5,009,787,000, down from HKD 5,071,025,000 at the end of 2023[64]. Cash Flow and Financial Position - The company’s cash and cash equivalents decreased to HKD 383,512,000 from HKD 455,995,000 as of December 31, 2023[3]. - As of June 30, 2024, the group's cash resources amounted to HKD 384,000,000, down from HKD 456,000,000 at the end of 2023[26]. - The net cash generated from operating activities decreased to HKD 189,654 thousand in 2024 from HKD 260,946 thousand in 2023, indicating a decline of approximately 27%[50]. - Financing activities led to a net cash outflow of HKD 208,747 thousand in 2024, down from HKD 836,179 thousand in 2023, showing a reduction of about 75%[51]. - The company reported a financial expense of HKD 166,589 thousand in 2024, down from HKD 202,862 thousand in 2023, which is a reduction of approximately 18%[50]. Investment and Development - The company plans to continue focusing on property investment and development in the U.S., particularly in New York, Silicon Valley, and Seattle[6]. - Property sales revenue from development projects in the U.S. reached HKD 215,000,000 in the first half of 2024, a substantial increase from HKD 53,000,000 in the same period of 2023[11]. - The company plans to invest approximately USD 10,000,000 to USD 12,000,000 (equivalent to HKD 77,500,000 to HKD 93,000,000) in real estate projects in the New York metropolitan area, representing 43% to 52% of the total net proceeds from the placement activities[33]. Rental Income and Property Management - The average occupancy rate for the company's U.S. investment properties was 72% during the first half of 2024, with total income from these properties amounting to HKD 377,000,000[10]. - Rental income decreased to HKD 288,228,000 from HKD 350,662,000, a decline of 17.8% due to the sale of several US investment properties[15]. - The company has committed rental agreements with tenants for properties held, with lease terms ranging from one month to ten years, ensuring stable rental income[111]. Shareholder and Corporate Governance - The company did not recommend any interim dividend for the current period, consistent with the previous year[78]. - The board of directors' remuneration was adjusted from HKD 180,000 to HKD 250,000 per year, effective June 1, 2024[133]. - The company has complied with all applicable corporate governance codes as per the listing rules during the interim period[130]. Market and Economic Conditions - The company will adapt its operational strategies in response to market changes and uncertainties related to the upcoming U.S. presidential election[6]. - The company maintains a cautious approach in identifying suitable investment opportunities due to the current global economic uncertainties[34].

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分內容而產生或 因倚賴該等內容而引致的任何損失承擔任何責任。 Gemini Investments (Holdings) Limited 盛 洋 投 資（ 控 股 ）有 限 公 司 （於香港註冊成立之有限公司） （股份代號：174） 截至二零二四年六月三十日止六個月 中期業績公佈 盛洋投資（控股）有限公司（「本公司」）董事局（「董事」或「董事局」）欣然公佈本公司與其附屬 公司（合稱「本集團」或「我們」）截至二零二四年六月三十日止六個月（「二零二四年中期期間」） 的未經審核中期業績。本公司的未經審核中期業績已由本公司的審核委員會審閱。 於二零二四年中期期間，本集團錄得收入港幣596,000,000元（截至二零二三年六月三十日止 六個月（「二零二三年中期期間」）：港幣512,000,000元），及錄得分屬於本公司股東的虧損港 幣30,000,000元（二零二三年中期期間：分屬於本公司股東的虧損港幣379,000,000元）。由於 二零二四年上半年全球經濟相對平穩，物業 ...

Financial Performance - The company reported revenue of HKD 1,061,755,000 for 2023, a slight decrease of 0.08% from HKD 1,064,608,000 in 2022[3]. - Loss attributable to shareholders was HKD 655,881,000 in 2023, compared to HKD 295,740,000 in 2022, representing a significant increase in losses[3]. - The total asset value decreased to HKD 10,534,179,000 in 2023 from HKD 13,313,358,000 in 2022, reflecting a decline of approximately 20.9%[3]. - The total income from U.S. investment properties was HKD 868,000,000, down from HKD 926,000,000 in 2022, indicating a decline of approximately 6.3%[16]. - Rental income from investment properties in Hong Kong decreased to HKD 7 million in 2023 from HKD 9 million in 2022, with an average occupancy rate of 92%[26]. - The fair value loss on investment properties was HKD 958 million in 2023, compared to a loss of HKD 276 million in 2022, reflecting a 12% overall decrease in property values[35]. - The company anticipates potential opportunities arising from the expected shift in monetary policy in 2024, which may influence economic growth[11]. - No final dividends were recommended for the year due to the financial losses incurred[7]. Asset Management - The fair value of the company's properties decreased by about 12%, amounting to HKD 997,000,000 due to ongoing global economic challenges[6]. - The company plans to continue optimizing its asset portfolio while maintaining a cautiously optimistic outlook on market conditions[21]. - The company plans to sell the Second Avenue project, which has been reclassified as held for sale, resulting in a write-down of HKD 131 million[23]. - Securities investments were fully liquidated, resulting in a balance of zero as of December 31, 2023, down from HKD 118 million in 2022[27]. - The group’s total loans (excluding lease liabilities) amounted to HKD 3,943 million, a decrease from HKD 5,276 million in 2022, with 10% classified as short-term and 90% as long-term loans[43]. - The net gearing ratio as of December 31, 2023, was 64%, down from 70% a year earlier, indicating improved capital and debt structure management[44]. Operational Costs - Operating expenses increased to HKD 601 million in 2023 from HKD 478 million in 2022, driven by costs associated with sold properties[33]. - Financial costs increased to HKD 400 million in 2023, up by HKD 28 million, due to the repayment of mortgage loans after selling US investment properties[40]. - The group had no significant contingent liabilities as of December 31, 2023, reflecting a stable financial position[50]. Employee Management - The total employee cost was HKD 91 million, an increase from HKD 82 million in 2022, attributed to labor shortages and rising wages in the U.S. labor market[55]. - The company recognizes employees as valuable assets and provides competitive compensation to attract and motivate them[61]. - The company emphasizes the importance of attracting and retaining skilled personnel to achieve business objectives, offering attractive compensation packages[71]. - Employee turnover during the reporting period was 16, with 7 males and 9 females leaving[189]. - 75 employees received training during the reporting period, with a training rate of 88% for both male and female employees[192]. Risk Management - The company faces significant risks related to the property markets in Hong Kong and the United States, which may impact financial performance and property values[75]. - The company has established a detailed investment framework to assess risks and returns before approving investments, ensuring regular updates to the board on project progress[70]. - The company emphasizes the importance of risk management and internal controls related to ESG issues, integrating them into overall business operations[154]. - The company has not entered into any hedging arrangements to mitigate foreign exchange risk as of December 31, 2023, and will continue to monitor this risk closely[64]. Environmental, Social, and Governance (ESG) Initiatives - The group is focused on enhancing its environmental, social, and governance (ESG) performance, aiming to become a responsible service provider, employer, and corporate citizen[146]. - The company has set environmental goals for emission reduction, energy consumption, and waste reduction in its Hong Kong operations[148]. - The company identified 30 significant environmental, social, and governance (ESG) issues categorized into three themes: responsible employer, responsible service provider, and responsible corporate citizen[166]. - The importance matrix indicates that most significant issues under the responsible employer theme have become more important compared to the previous year, with many classified as "very important"[168]. - The company aims to enhance transparency regarding its role and impact on identified ESG issues through this report[171]. Corporate Governance - The company has complied with the corporate governance code throughout the year, except as disclosed in the corporate governance report[128]. - The audit committee reviewed the consolidated financial statements for the year ended December 31, 2023, and confirmed compliance with applicable accounting standards[136]. - The board of directors includes seven members, with specific roles outlined, and some directors are eligible for re-election at the upcoming annual general meeting[102]. - There were no significant transactions or arrangements involving directors or major shareholders that remain effective as of the end of the year[105].

Financial Performance - The company recorded revenue of HKD 1,062,000,000 for the year ended December 31, 2023, a slight decrease from HKD 1,065,000,000 in 2022[3] - Loss attributable to shareholders was HKD 656,000,000 in 2023, compared to a loss of HKD 296,000,000 in 2022[3] - Total revenue for the year 2023 was HKD 1,061,755,000, a slight decrease from HKD 1,064,608,000 in 2022[21] - The group reported a consolidated loss before tax of HKD 890,412,000 for the year ended December 31, 2023, compared to a loss of HKD 295,564,000 for the year ended December 31, 2022[68][70] - The group reported a loss of HKD 914,097,000 for the year, compared to a loss of HKD 329,788,000 in 2022[45] - The total comprehensive income for the year 2023 was reported at HKD (907,159,000), compared to HKD (332,166,000) in 2022, indicating a significant increase in comprehensive losses[49] Property and Investment Performance - The fair value of the company's properties decreased by approximately HKD 997,000,000 in 2023 due to ongoing global economic challenges[3] - Revenue from residential development projects in New York amounted to HKD 186,000,000, with a 45% increase from HKD 128,000,000 in 2022[16] - The total value of investment properties in the U.S. was HKD 6,721,000,000 as of December 31, 2023, down from HKD 8,141,000,000 in 2022[11] - The average occupancy rate for U.S. investment properties was 74% as of December 31, 2023[11] - Investment properties in Hong Kong had a total book value of HKD 396,000,000, representing 4% of total assets[18] - Rental income from Hong Kong investment properties was HKD 7,000,000, down from HKD 9,000,000 in 2022, with an average occupancy rate of 92%[18] - The fair value loss on investment properties was HKD 958,000,000, compared to a loss of HKD 276,000,000 in 2022[25] - The fair value change of investment properties resulted in a loss of HKD 957,684,000 for 2023, compared to a loss of HKD 276,086,000 in 2022[76] Financial Position - Cash resources as of December 31, 2023, totaled HKD 456,000,000, down from HKD 791,000,000 in 2022[31] - The company’s loan balance decreased to HKD 3,943,000,000 from HKD 5,276,000,000 in the previous year[31] - The total assets as of December 31, 2023, were valued at HKD 10,534,179,000, down from HKD 13,313,358,000 in 2022[47] - Total assets less current liabilities decreased from HKD 11,577,572,000 in 2022 to HKD 9,696,520,000 in 2023, a reduction of about 16.3%[48] - Current liabilities decreased from HKD 1,735,786,000 in 2022 to HKD 837,659,000 in 2023, a decrease of approximately 51.7%[48] - Non-current liabilities decreased from HKD 5,149,243,000 in 2022 to HKD 4,233,366,000 in 2023, a decline of about 17.8%[48] - The company's total liabilities decreased from HKD 6,428,329,000 in 2022 to HKD 5,463,154,000 in 2023, a decrease of approximately 15.0%[49] Operational Expenses - The company’s operating expenses increased to HKD 601,739,000 from HKD 478,436,000 in 2022, primarily due to higher maintenance and property tax costs[22] - Direct operating expenses increased to HKD 601,739,000 in 2023 from HKD 478,436,000 in 2022, marking an increase of approximately 25.7%[80] - Financial expenses increased by HKD 28,000,000 to HKD 400,000,000 due to the repayment of mortgage loans after property sales[29] - The group’s financial expenses increased to HKD 400,036,000 in 2023 from HKD 371,746,000 in 2022[44] Corporate Governance - The board of directors includes executive directors, non-executive directors, and independent non-executive directors, ensuring a diverse governance structure[110] - The company is led by CEO Li Guohong, indicating strong leadership presence[110] - The board composition includes three independent non-executive directors, promoting transparency and accountability[110] - The company emphasizes its commitment to corporate governance through a structured board[110] - The presence of multiple executive directors suggests a collaborative approach to management[110] - The announcement highlights the importance of strategic oversight by the board[110] - The company is positioned for future growth with a focus on leadership and governance[110] - The diverse board may enhance decision-making and strategic direction[110] Future Outlook - The company plans to continue optimizing its asset portfolio and is cautiously optimistic about future investment opportunities[14] - The company plans to invest approximately USD 10 million to USD 12 million (equivalent to HKD 77.5 million to HKD 93 million) in real estate projects in the New York metropolitan area, representing 43% to 52% of the net proceeds from the placement activities[39] - Approximately HKD 83 million (46% of the net proceeds from the placement activities) remains unutilized for real estate investments due to current economic uncertainties[41] Miscellaneous - The company did not declare any dividends for the years ended December 31, 2023, and 2022[89] - The company has not adopted any new or revised Hong Kong Financial Reporting Standards that would have a significant impact on its financial performance or position for the current or prior periods[54] - The company has not reported any revenue from a single customer accounting for 10% or more of total revenue for the years ended December 31, 2023, and 2022[77] - The company did not purchase, sell, or redeem any of its listed shares during the year[101] - The company maintained sufficient public float as per the listing rules as of the announcement date[107] - The annual report for the year 2023 will be sent to shareholders and published on the company's website and the Hong Kong Stock Exchange's disclosure platform[108]

Financial Performance - For the six months ended June 30, 2023, the company reported revenue of HKD 511,617,000, an increase of 4.3% compared to HKD 491,382,000 for the same period in 2022[5]. - The loss attributable to shareholders for the same period was HKD 379,245,000, compared to a loss of HKD 146,986,000 in the prior year, representing a significant increase in losses[5]. - Total revenue for the six months ended June 30, 2023, was HKD 511,617,000, an increase of 4.1% compared to HKD 491,382,000 for the same period in 2022[104]. - The group reported a loss before tax of HKD 395,423,000, with significant expenses including financial costs of HKD 202,862,000 and unallocated corporate expenses of HKD 83,713,000[96]. - The company reported a basic loss per share of HKD 0.597 for the six months ended June 30, 2023, compared to HKD 0.232 for the same period in 2022[114]. Assets and Liabilities - The total assets as of June 30, 2023, were HKD 11,998,750,000, down from HKD 13,313,358,000 as of December 31, 2022, indicating a decrease of approximately 9.9%[5]. - The total liabilities decreased to HKD 1,242,178,000 from HKD 1,735,786,000, indicating a reduction of 28.5%[71]. - The total non-current liabilities decreased to HKD 4,775,564 thousand as of June 30, 2023, from HKD 5,149,243 thousand as of December 31, 2022, indicating a reduction of approximately 7.3%[72]. - The net current assets decreased to HKD 1,431,314,000 from HKD 1,871,473,000, reflecting a decline of 23.5%[71]. - The total amount of bank loans secured by investment properties was approximately HKD 4,261,427,000 as of June 30, 2023, down from HKD 4,463,079,000 as of December 31, 2022[121]. Cash Flow and Financial Stability - The company’s cash and cash equivalents decreased to HKD 433,789,000 from HKD 790,673,000, reflecting a decline of about 45%[5]. - Operating cash flow for the six months ended June 30, 2023, was HKD 260,946 thousand, a significant improvement from a cash outflow of HKD 155,719 thousand in the prior year[78]. - Investment activities generated a net cash inflow of HKD 214,442 thousand in the first half of 2023, down from HKD 1,305,858 thousand in the same period of 2022[81]. - The company incurred financial expenses of HKD 202,862 thousand in the first half of 2023, compared to HKD 182,417 thousand in the same period of 2022, representing an increase of approximately 11%[78]. - The company has not made any financial guarantees for third-party interests as of June 30, 2023[50]. Property and Investment Performance - The fair value of the company’s properties decreased by approximately 5%, equating to a loss of around HKD 387,000,000 due to ongoing economic challenges[8]. - The fair value loss on investment properties was HKD 348,000,000, with a total decrease in property values of 5% due to rising interest rates and economic slowdown[39]. - The total book value of investment properties in the U.S. was HKD 7,872,000,000, down from HKD 8,141,000,000 as of December 31, 2022, reflecting a decrease of approximately 3.3%[19]. - The average occupancy rate for the company’s rental investment properties in the U.S. was 74% as of June 30, 2023, down from 3,712,000 square feet in the previous period[22]. - The company plans to optimize its U.S. property portfolio through acquisitions and disposals, maintaining a cautiously optimistic outlook[25]. Dividends and Shareholder Information - No interim dividend was recommended for the six months ended June 30, 2023, reflecting the company's focus on financial stability amid losses[9]. - The company has the discretion to choose not to pay dividends on the convertible preferred shares, which are subject to a non-cumulative floating rate[153]. - The company has not engaged in any arrangements that would allow directors to benefit from purchasing shares or bonds of the company or any other entity during the six months ending June 30, 2023[189]. - The total number of ordinary shares issued remained at 635,570,000, with a total capital of HKD 371,191,000, unchanged from December 31, 2022[152]. - The beneficial owner, Shengmei Management Limited, holds 157,986,500 shares, accounting for 24.86% of the issued share capital[192]. Future Outlook and Strategy - The company anticipates continued monitoring of global economic trends and real estate market dynamics, particularly regarding interest rate changes by the Federal Reserve[13]. - The company plans to continue focusing on investment property development and expansion in the upcoming periods, aiming to enhance overall financial performance[73]. - The company plans to allocate approximately HKD 77,500,000 to HKD 93,000,000 (equivalent to 43% to 52% of the net proceeds from the placement activities) for real estate-related projects in the New York metropolitan area[55]. - The company plans to continue focusing on property investment and development in the U.S. market as part of its future strategy[102]. - The company completed the sale of two office properties in the U.S. during the reporting period, contributing to a total sales revenue of HKD 53,000,000 from residential development projects[10].