Financial Performance - The Company recorded revenue of approximately HK$31,820,000 for the six months ended June 30, 2023, representing a decrease of 34.85% compared to HK$48,844,000 for the same period in 2022[8]. - The gross profit margin decreased to 33.71% for the six months ended June 30, 2023, down 9.19% from 42.90% in the corresponding period of last year[9]. - The loss for the period decreased from approximately HK$30,708,000 in the previous year to approximately HK$29,138,000 for the six months ended June 30, 2023[9]. - Revenue for the six months ended June 30, 2023, was HK$31,820,000, a decrease of 34.9% compared to HK$48,844,000 in 2022[68]. - Gross profit for the same period was HK$10,726,000, down 48.8% from HK$20,952,000 in 2022[68]. - Loss for the period narrowed to HK$29,138,000 from HK$30,708,000 in 2022, representing a reduction of 5.1%[69]. - Total comprehensive income for the period was HK$47,437,000, compared to HK$50,356,000 in 2022, reflecting a decrease of 5.7%[69]. Revenue Breakdown - Revenue from the manufacturing of electronics products contributed approximately HK$24,012,000, a decrease of 33.95% compared to HK$36,353,000 in the first half of 2022[14]. - Income from the provision of money lending services decreased by 59.51% to approximately HK$2,425,000, down from HK$5,989,000 in the same period last year[16]. - The Group's revenue composition for the first half of 2023 included 75.46% from manufacturing electronics, 7.62% from money lending, 7.49% from regulated financial services, and 9.43% from property development[10]. - Revenue from money lending decreased to HK$2,425,000, a decline of 59.5% from HK$5,989,000 in 2022[112]. - Property development and management revenue was HK$3,001,000, down 19.0% from HK$3,706,000 in the prior year[112]. - Regulated financial services revenue was HK$2,382,000, a decrease of 14.8% from HK$2,796,000 in 2022[112]. Operational Challenges - The Company continues to face a challenging operational environment, impacting overall performance and revenue generation[9]. - No new loans were issued in the first half of 2023, contributing to the decline in interest income from money lending services[16]. - The Group is planning to scale down or potentially close its money-lending business due to increased credit risk and operational difficulties[47]. - The Group is actively seeking investment opportunities to develop and integrate its business[46]. - The Group is actively seeking investment opportunities and considering exiting the early childhood education sector due to regulatory challenges and operational difficulties[49]. Loan and Borrowing Details - As of June 30, 2023, the total principal amount of loans receivables was HK$152,555,000, a decrease from HK$164,300,000 as of December 31, 2022, representing a reduction of approximately 8.83%[20]. - The total principal amount of unsecured loans was approximately HK$142,550,000 as of June 30, 2023, down from HK$153,800,000 as of December 31, 2022, indicating a decrease of about 7.99%[21]. - The interest rates for loan receivables ranged from 6% to 15% per annum, consistent with the previous reporting period[20]. - The Group's interest-bearing borrowings were approximately HK$485,170,000, slightly down from HK$487,067,000 as of December 31, 2022[52]. - The total interest-bearing borrowings amounted to HK$485,170,000 as of June 30, 2023, slightly down from HK$487,067,000 as of December 31, 2022[188]. - The secured term loans were HK$140,773,000 due within one year and HK$77,358,000 due within one to two years as of June 30, 2023[190]. Asset and Liability Management - The net asset value decreased to approximately HK$248,924,000 as of June 30, 2023, down from HK$296,361,000 as of December 31, 2022[54]. - The current ratio was 0.82 as of June 30, 2023, compared to 0.88 as of December 31, 2022[54]. - The total reserves as of June 30, 2023, were HK$35,394,000, significantly lower than HK$159,454,000 as of June 30, 2022[79]. - The company’s accumulated losses increased to HK$449,791,000 as of June 30, 2023, from HK$420,740,000 at the beginning of the year[78]. - The total amount of trade payables increased to HK$28,304,000 as of June 30, 2023, compared to HK$23,512,000 as of December 31, 2022, reflecting an increase of about 20.5%[179]. Compliance and Governance - The Group has implemented a credit risk strategy that includes independent assessments of loan applications to ensure recovery ability[27]. - The Group does not proactively require borrowers to renew loans but will do so upon request, maintaining ongoing credit assessments[28]. - The Group has maintained close communication with unsecured loan borrowers and may initiate legal proceedings if repayment status is unsatisfactory[32]. - The Directors believe that the Group will have sufficient cash resources to meet its financial obligations in the next twelve months[97]. - The Group plans to negotiate with bondholders to extend repayment terms and seek additional financing options[99]. Segment Performance - The Group operates five reportable segments: electronics manufacturing, nursery education services, money lending, property development and management, and regulated financial services[107]. - The reportable segment profit for the six months ended June 30, 2023, was HK$7,173,000, compared to a loss of HK$2,365,000 in the same period last year[115]. - Share of results from an associate was HK$10,922,000, improving from a loss of HK$6,382,000 in 2022[115]. - Total reportable segment assets as of June 30, 2023, were HK$626,788,000, compared to HK$653,895,000 at the end of 2022[114]. Investment and Future Outlook - The Group made a capital contribution of HK$51,000,000 as a general partner and HK$100,000,000 as a limited partner in the IT City Development Fund LP[150]. - The Group holds a 60% proportion of voting rights and 28.57% of capital in IT City, which focuses on IT properties investment[150]. - The Group is actively seeking investment opportunities to develop and integrate its business[46].

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。 SUPERACTIVE GROUP COMPANY LIMITED 先機企業集團有限公司 （於百慕達註冊成立之有限公司） （股份代號：0176） 有關二零二二年年報之補充公告 茲提述先機企業集團有限公司（「本公司」）截至二零二二年十二月三十一日止 年度年報（「該年報」）。除另有界定外，本公告所用詞彙與該年報所界定者具 有相同涵義。 除該年報內所披露的資料外，本公司謹此提供以下有關應收貸款的補充資料。 於二零二二年十二月三十一日的借款人包括個人客戶和企業客戶。個人客戶包 ...

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。 SUPERACTIVE GROUP COMPANY LIMITED 先機企業集團有限公司 （於百慕達註冊成立之有限公司） 0176 （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 先機企業集團有限公司（「本公司」）董事（「董事」）會（「董事會」）宣佈本公司及其附 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 合業績，連同截至二零二二年之比較數字如下： 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 千港元 千港元 ...

Financial Performance - For the year ended December 31, 2022, the Group's revenue decreased to approximately HK$88.73 million, representing a decrease of approximately 32.89% compared to HK$132.22 million for the year ended December 31, 2021[15]. - The Group's gross profit decreased by approximately HK$15.68 million from approximately HK$49.00 million in 2021 to approximately HK$33.32 million in 2022[15]. - The gross profit margin slightly increased from approximately 37.06% in 2021 to approximately 37.55% in 2022[15]. - The Group recorded a loss of approximately HK$95.33 million for the year ended December 31, 2022, compared to a loss of approximately HK$143.69 million for the year ended December 31, 2021[15]. - Revenue in 2022 decreased by approximately HK$43,487,000, representing a decrease of approximately 32.89% compared to 2021, from HK$132,217,000 to HK$88,730,000[23]. - Gross profit decreased by approximately HK$15,686,000, representing a decrease of approximately 32.01% compared to 2021, from approximately HK$49,002,000 to approximately HK$33,316,000, while gross profit margin slightly increased by approximately 0.49% to 37.55%[24]. Assets and Liabilities - Total assets as of December 31, 2022, were HK$1,101.55 million, a decrease from HK$1,255.42 million in 2021[11]. - Total liabilities as of December 31, 2022, were HK$805.19 million, compared to HK$828.27 million in 2021[11]. - Net assets decreased to HK$296.36 million in 2022 from HK$427.15 million in 2021[11]. - Equity attributable to owners of the Company was HK$286.40 million as of December 31, 2022, down from HK$415.96 million in 2021[11]. Impact of COVID-19 - The Group faced significant challenges due to prolonged COVID-19 outbreaks and related control restrictions affecting business activities and supply chains[14]. - The Chairman's statement highlighted the impact of the pandemic on the economies of the PRC and Hong Kong, which affected the Group's performance[14]. Revenue Breakdown - In 2022, revenue from the manufacturing of electronics products accounted for approximately 75.24% of total revenue, a significant increase from 68.05% in 2021[37]. - Revenue from money lending services decreased by 51.75% to approximately HK$10,617,000 in 2022, down from HK$22,005,000 in 2021[49]. - The nursery education services segment did not contribute any revenue in 2022, down from HK$672,000 in 2021, due to regulatory changes[43]. - The Group's property development and management income accounted for 6.47% of total revenue in 2022, down from 9.56% in 2021[39]. Financial Costs and Impairments - The Group's finance costs increased due to rising interest rates in 2022 and defaults on bond payables[29]. - The net impairment loss on financial assets in 2022 included a net reversal of impairment loss on trade receivables of approximately HK$5,860,000 and net impairment losses on other receivables and loans receivable of approximately HK$7,563,000 and HK$3,590,000, respectively[31]. - The Group's expected credit losses decreased at the end of 2022 due to a reduction in the gross balances of trade receivables by HK$33,493,000 compared to 2021[31]. Management and Future Outlook - The Group's management remains optimistic about the economic recovery in Mainland China and Hong Kong, focusing on property development and management in the coming year[18]. - The Group's stock shops in Lijiang are ready for sale, with plans to launch sales as market demand increases following the recovery of the PRC economy[18]. Shareholder Information - The Directors do not recommend the payment of a final dividend for the year ended December 31, 2022 (2021: nil)[108]. - The Company has a dividend policy that does not specify a predetermined distribution ratio, with dividends subject to the Board's discretion based on financial results and prospects[118][120]. - As of December 31, 2022, Ms. Yeung So Lai and Mr. Lee Chi Shing Caesar each hold 1,152,731,997 shares, representing 56.71% of the total shares in issue[157][160]. - The total number of shares in issue as of December 31, 2022, is 2,032,571,385[160]. Corporate Governance - The Company considers all independent non-executive Directors to be independent, having received annual confirmations of their independence[145]. - No significant transactions or contracts involving directors were reported other than those disclosed in related party transactions[161]. - There were no interests in competing businesses reported by any directors during the year[162].

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 任何部分內容而產生，或因倚賴該等內容而引致之任何損失承擔任何責任。 SUPERACTIVE GROUP COMPANY LIMITED 先機企業集團有限公司 （於百慕達註冊成立之有限公司） 0176 （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 先機企業集團有限公司（「本公司」）董事（「董事」）會（「董事會」）宣佈本公司及其附 屬公司（統稱為「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 同截至二零二一年十二月三十一日止年度之比較數字如下： 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 千港元 千港元 4 88,730 132,217 收益 (55,414) (83,215) 銷售成本 ...

Loan Composition - As of December 31, 2021, the total principal amount of receivable loans was HKD 247,300,000, consisting of secured loans of HKD 84,000,000 and unsecured loans of HKD 163,300,000[4]. - The interest rates for secured loans ranged from 8% to 15%, with principal amounts lent in 2018, 2019, 2020, and 2021 being HKD 69,000,000, HKD 5,000,000, HKD 5,000,000, and HKD 5,000,000 respectively[4]. - Unsecured loans had interest rates between 6% and 10%, with principal amounts lent in 2018, 2019, 2020, and 2021 being HKD 85,800,000, HKD 42,800,000, HKD 35,000,000, and HKD 0 respectively[4]. Risk Assessment - The company believes that despite some loans being unsecured, the actual default risk is low due to personal guarantees provided by borrowers[5]. - All loans are subject to renewal at the request of the borrowers, and the company conducts credit risk assessments before approving renewals[5]. Reporting Consistency - The company maintains that all other information in the annual report remains unchanged, aside from the disclosed supplementary information[5].

Financial Performance - The Company recorded revenue of approximately HK$48,844,000 for the six months ended 30 June 2022, a decrease of 8.99% compared to HK$53,669,000 for the same period in 2021[8]. - The gross profit margin was 42.90%, representing a decrease of 1.63% from 44.53% in the corresponding period of last year[9]. - The loss for the period increased to approximately HK$30,708,000 from HK$26,058,000 in the same period last year[9]. - Revenue for the six months ended June 30, 2022, was HK$48,844,000, a decrease of 9.4% from HK$53,669,000 in the same period of 2021[56]. - Gross profit for the same period was HK$20,952,000, down 12.3% from HK$23,900,000 year-on-year[56]. - Loss before tax increased to HK$30,607,000, compared to a loss of HK$23,044,000 in the prior year, reflecting a deterioration of 32.8%[56]. - Loss for the period attributable to owners of the Company was HK$33,335,000, compared to HK$26,302,000 in the previous year, representing a 26.7% increase[56]. - Total comprehensive loss for the period was HK$50,356,000, significantly higher than HK$21,898,000 in the previous year, marking an increase of 130.0%[58]. Revenue Breakdown - Revenue from the manufacturing of electronics products contributed approximately HK$36,353,000, an increase of 16.63% compared to HK$31,169,000 in the first half of 2021[14]. - The manufacturing of electronics products accounted for approximately 74.43% of total revenue, up from 58.08% in the same period last year[10]. - Income from money lending services decreased by 44.78% to approximately HK$5,989,000 from HK$10,845,000 in the same period last year[16]. - The Group's service income from regulated financial services accounted for 5.72% of total revenue, a decrease from 8.67% in the same period last year[10]. - Revenue from property management services decreased to HK$3,706,000, down 43.3% from HK$6,548,000 in the prior year[93]. - Nursery education segment reported no revenue for the six months ended June 30, 2022, down from HK$452,000 in the same period of 2021[93]. - Total revenue scoped out of HKFRS 15 from money lending was HK$5,989,000, down 44.0% from HK$10,845,000 in the same period of 2021[93]. - Overall revenue for the group was HK$48,844,000, a decrease of 9.8% from HK$53,669,000 in the prior year[93]. Financial Position - As of June 30, 2022, the Group had cash and cash equivalents of approximately HK$8,608,000, an increase from HK$5,686,000 as of December 31, 2021[40]. - The Group's interest-bearing borrowings were approximately HK$495,108,000 as of June 30, 2022, slightly down from HK$498,584,000 as of December 31, 2021[40]. - The Group's net asset value was approximately HK$376,794,000 as of June 30, 2022, down from HK$427,150,000 as of December 31, 2021[42]. - The current ratio of the Group was 1.02 as of June 30, 2022, compared to 1.32 as of December 31, 2021[42]. - The total amount of loan receivables from the largest borrower and the five largest borrowers accounted for approximately HK$50,762,000 (18.54% of total loan receivables) and HK$152,000,000 (55.51% of total loan receivables) respectively as of June 30, 2022[21]. - The Group's total bank and other borrowings to total assets ratio was 41.21% as of June 30, 2022, compared to 39.71% as of December 31, 2021[41]. - The total equity attributable to owners of the company decreased to HK$362,711,000 as of June 30, 2022, from HK$415,964,000 as of December 31, 2021, a decline of about 13%[66]. Operational Challenges - The Group continues to face a challenging operating environment, impacting overall performance and profitability[9]. - The Group plans to scale down or close its money lending business due to increased credit risk and regulatory challenges[35]. - The Group is reducing its investment in nursery education services amid regulatory tightening and operational difficulties[35]. - The Group's strategy in the nursery education sector has shifted to comply with new regulations, leading to the cessation of management fees for kindergartens[29]. Cash Flow and Investments - The company reported a net cash generated from operating activities of HK$5,776,000 for the six months ended June 30, 2022, compared to HK$27,663,000 for the same period in 2021, a decrease of about 79%[71]. - The net cash used in investing activities was HK$3,572,000 for the six months ended June 30, 2022, compared to HK$2,551,000 in 2021, indicating an increase of approximately 40%[71]. - Cash and cash equivalents at the end of the period were HK$8,608,000 as of June 30, 2022, down from HK$16,207,000 at the end of June 30, 2021, a decrease of about 47%[71]. Employee and Governance - The Group's employee count increased to approximately 300 as of June 30, 2022, from approximately 250 as of December 31, 2021[48]. - The Board of Directors does not recommend the payment of an interim dividend for the six months ended June 30, 2022[49]. Segment Performance - The segment profit for Electronics products was HK$6,687,000, while the Nursery education segment reported a loss of HK$248,000, and the Money lending segment incurred a loss of HK$7,908,000[96]. - Reportable segment assets as of June 30, 2022, totaled HK$768,500,000, compared to HK$816,172,000 as of December 31, 2021, indicating a decrease of 5.8%[96]. - Revenue from Mainland China increased to HK$40,059,000 in 2022 from HK$38,169,000 in 2021, while revenue from Hong Kong decreased to HK$8,785,000 from HK$15,500,000[101]. Credit and Risk Management - The Group's credit risk strategy includes independent assessments of loan applications, ensuring the recovery ability of loans through background checks and collateral evaluations[22]. - Impairment on loan receivables is calculated based on a probability-weighted estimate of credit losses, reflecting the difference between expected cash flows and contractual cash flows[23]. - The Group's provision matrix for credit losses is adjusted for forward-looking factors specific to borrowers and the economic environment[25].

Financial Performance - The Group's revenue increased to approximately HK$132.22 million for the year ended December 31, 2021, representing a year-on-year increase of approximately 30.74% compared to HK$101.13 million in 2020[16]. - Gross profit for the Group rose to approximately HK$49.00 million in 2021, an increase of approximately HK$6.73 million from HK$42.27 million in 2020, although the gross profit margin decreased from approximately 41.80% to 37.06%[16]. - The Group recorded a loss of approximately HK$143.69 million for the year ended December 31, 2021, compared to a loss of approximately HK$106.15 million in 2020[16]. - Revenue in 2021 increased by approximately HK$31,088,000, representing a growth of approximately 30.74% compared to 2020, rising from HK$101,129,000 to HK$132,217,000[30]. - Gross profit for 2021 increased by approximately HK$6,735,000, or 15.93%, from approximately HK$42,267,000 in 2020 to approximately HK$49,002,000 in 2021[30]. - Gross profit margin decreased by approximately 4.74%, from 41.80% in 2020 to 37.06% in 2021[30]. Revenue Breakdown - Revenue from electronics product sales significantly increased to approximately HK$89.97 million, representing an upsurge of approximately 63.57% compared to the previous year[16]. - Income from manufacturing electronics products accounted for approximately 68.05% of total revenue in 2021, up from 54.39% in 2020[38]. - Revenue from nursery education services decreased by 61.73% to approximately HK$672,000 compared to HK$1,756,000 in 2020[44]. - Revenue from money lending services decreased by 12.31% to approximately HK$22,005,000 compared to HK$25,095,000 in 2020[45]. - Revenue from regulated financial services decreased by 13.83% to approximately HK$6,930,000 compared to HK$8,042,000 in 2020[58]. Assets and Liabilities - Total assets as of December 31, 2021, were HK$1,255.42 million, a decrease from HK$1,360.94 million in 2020[13]. - Total liabilities increased to HK$828.27 million in 2021 from HK$802.36 million in 2020[13]. - Net assets decreased to HK$427.15 million in 2021, down from HK$558.58 million in 2020[13]. - Equity attributable to owners of the Company was HK$415.96 million in 2021, compared to HK$547.60 million in 2020[13]. Impairment and Losses - The Group's impairment losses on financial assets were HK$85.20 million in 2021, compared to HK$63.53 million in 2020[9]. - The impairment loss on assets related to regulated financial services amounted to HK$4,810,000, and impairment loss on interest in an associate was HK$3,415,000[32]. - The base rate of the probability of default for loan receivables increased by 10% in 2021 compared to 2020, leading to additional impairment losses of approximately HK$22,000,000 and HK$57,000,000[36]. Business Environment and Outlook - The current business environment is challenging due to the resurgence of COVID-19 infections and the downturn in China's property market, impacting the Group's operations[20]. - The Group remains cautiously optimistic about business recovery, anticipating government policies to support economic recovery[20]. Cash Flow and Financial Health - As of December 31, 2021, the Group had cash and cash equivalents of approximately HK$5,686,000, a decrease of 51.0% from HK$11,598,000 in 2020[62]. - The Group's interest-bearing borrowings were approximately HK$498,584,000, slightly down from HK$498,952,000 in 2020, with a gearing ratio of 1.15 compared to 0.87 in 2020[63]. - The liquidity ratio (current assets to current liabilities) was 1.32, down from 1.73 in 2020, indicating a decrease in short-term financial health[64]. - The Group's net asset value decreased to HK$427,150,000 from HK$558,580,000 in 2020, reflecting a decline of 23.5%[64]. Staff and Operational Costs - Total staff costs for 2021 were approximately HK$35,943,000, an increase of 19.7% from HK$29,983,000 in 2020, with the employee count rising to approximately 300 from 250[72]. Dividend Policy - The Directors do not recommend the payment of a final dividend for the year ended December 31, 2021, consistent with the previous year[90]. - The Company adopted a dividend policy on January 21, 2019, which considers financial results and prospects when declaring dividends[91]. - The Company has no predetermined dividend distribution ratio, and the declaration and payment of dividends are at the Board's discretion[95]. Share Capital and Options - As of December 31, 2021, the total number of shares in issue is 2,032,571,385 shares[134]. - The total number of shares available for issue under the Share Option Scheme is 203,257,138 shares, approximately 10% of the issued shares of the Company[186]. - No share options were granted under the Share Option Scheme as of December 31, 2021[172]. - The scheme will remain valid and effective until June 5, 2027, after which no further options will be granted[192]. Corporate Governance - All independent non-executive Directors have confirmed their independence as per the Listing Rules[124][127]. - The Company has taken out insurance against liabilities and costs associated with defending any proceedings that may be brought against Directors[169]. - The auditor Confucius International CPA Limited was appointed on December 15, 2021, to fill the casual vacancy[199].

Revenue and Profitability - The Company recorded revenue of approximately HK$53,669,000 for the six months ended 30 June 2021, an increase of 16.55% compared to HK$46,048,000 for the same period in 2020[8]. - Revenue from the manufacturing of electronics products increased by 49.08% to approximately HK$31,169,000, compared to HK$20,907,000 in the same period last year[14]. - Service income from regulated financial services increased by 3.31% to approximately HK$4,655,000, compared to HK$4,506,000 in the previous year[17]. - The service income from nursery education services decreased by 42.42% to approximately HK$452,000, down from HK$785,000 in the same period of 2020, primarily due to the disposal of a kindergarten in Chengdu[21]. - For the six months ended June 30, 2021, the Group reported revenue of HK$53,669,000, an increase of 16.5% compared to HK$46,048,000 for the same period in 2020[47]. - Gross profit for the same period was HK$23,900,000, a decrease of 2.4% from HK$24,482,000 in 2020[47]. - The total segment loss for the six months ended June 30, 2021, was HK$4,803,000, compared to a profit of HK$3,724,000 in the same period of 2020[89]. Financial Performance - The loss for the period decreased from approximately HK$32,004,000 in the previous year to approximately HK$26,058,000 in the current period[9]. - The net loss for the period was HK$26,058,000, an improvement of 18.4% compared to a net loss of HK$32,004,000 in the prior year[49]. - The loss per share for the period was HK$1.29, compared to HK$1.50 for the same period in 2020, indicating a reduction in loss per share[47]. - The Group's total comprehensive income for the period was a loss of HK$21,898,000, compared to a loss of HK$36,266,000 in the previous year[49]. - The company reported a total comprehensive income for the period of HK$(22,028,000) for the six months ended June 30, 2021, compared to HK$(35,394,000) for the same period in 2020, indicating an improvement of about 37.8%[58]. Cash Flow and Liquidity - The Group's cash and cash equivalents as of June 30, 2021, were approximately HK$16,207,000, an increase from HK$11,598,000 as of December 31, 2020[31]. - Net cash generated from operating activities for the six months ended June 30, 2021, was HK$27,663,000, compared to a cash used of HK$30,346,000 in the same period of 2020[62]. - Cash and bank balances increased to HK$16,207,000 as of June 30, 2021, from HK$11,598,000 as of December 31, 2020, representing an increase of about 39.8%[52]. - The Group's current ratio was 1.49 as of June 30, 2021, down from 1.73 as of December 31, 2020, indicating a decrease in liquidity[33]. Assets and Liabilities - The net asset value of the Group was approximately HK$536,682,000 as of June 30, 2021, down from HK$558,580,000 as of December 31, 2020[33]. - The total interest-bearing borrowings were approximately HK$498,208,000, slightly down from HK$498,952,000 as of December 31, 2020[31]. - Total assets less current liabilities decreased to HK$769,889,000 as of June 30, 2021, from HK$860,673,000 as of December 31, 2020, representing a decline of approximately 10.5%[53]. - Net current assets decreased to HK$283,214,000 as of June 30, 2021, compared to HK$365,967,000 as of December 31, 2020, a decrease of about 22.5%[52]. - The company's net assets decreased to HK$536,682,000 as of June 30, 2021, from HK$558,580,000 as of December 31, 2020, a decline of about 3.9%[53]. Borrowings and Financing - Interest-bearing borrowings decreased to HK$231,530,000 as of June 30, 2021, down from HK$300,390,000 as of December 31, 2020, reflecting a reduction of approximately 22.9%[53]. - The total amount of bank loans and other borrowings was HK$498,208,000 as of June 30, 2021, slightly down from HK$498,952,000 at the end of 2020[156]. - The company had restricted bank deposits of HK$1,890,000, unchanged from December 31, 2020[143]. - The group has secured loans totaling HK$233,581,000 against certain land and buildings, with a floating interest rate of 1.4% to 2% above the Hong Kong Interbank Offered Rate[160]. Impairment and Provisions - The expected credit losses on loan receivables were recognized at approximately HK$10,049,000, compared to nil in the same period last year[16]. - The Group's financial assets experienced net impairment losses of HK$11,862,000 for the period, compared to HK$529,000 in the previous year[47]. - The impairment provision for trade receivables increased to HK$8,714,000 as of June 30, 2021, from HK$6,901,000 at the end of 2020[136]. Operational Challenges and Future Outlook - The Company continues to face a challenging operating environment, impacting overall performance[9]. - The Group is considering reducing its investment in nursery education services due to regulatory changes and the impact of COVID-19[24]. - The Group's focus for future development is expected to shift towards property development and management due to emerging demand in the market[30]. Employee and Management Information - As of June 30, 2021, the Group had approximately 250 employees, consistent with the number as of December 31, 2020[39]. - Key management remuneration for the six months ended June 30, 2021, totaled HK$369,000, an increase from HK$305,000 for the same period in 2020, representing a growth of approximately 20.9%[191]. Regulatory and Compliance - The Group adopted new HKFRSs effective January 1, 2021, but these had no material impact on the financial positions and performance for the current and prior periods[77]. - The Group's financial statements are prepared in accordance with HKAS 34, ensuring compliance with the applicable disclosure provisions of the Listing Rules[67].

Financial Performance - The Group's revenue for the year ended December 31, 2020, decreased to approximately HK$101.13 million, a decline of approximately 45.28% compared to HK$184.81 million in 2019[16]. - Gross profit decreased by approximately HK$8.89 million to approximately HK$42.27 million, while the gross profit margin increased from approximately 27.68% in 2019 to approximately 41.80% in 2020[16]. - The loss for the year was approximately HK$106.15 million, compared to a loss of approximately HK$95.09 million in 2019, primarily due to an increase in net impairment of financial assets from approximately HK$20.92 million in 2019 to approximately HK$63.53 million in 2020[16]. - The proportion of revenue from the money lending business increased from 12.41% in 2019 to 24.81% in 2020, contributing to the higher gross profit margin[16]. - The group's revenue decreased to approximately HK$101,130,000 in 2020, a decline of about 45.28% compared to HK$184,810,000 in 2019[18]. - Gross profit fell by approximately HK$8,890,000 to about HK$42,270,000 in 2020, representing a decrease of approximately 17.38% from HK$51,160,000 in 2019[18]. - The loss for the year was approximately HK$106,150,000, compared to a loss of about HK$95,090,000 in 2019, indicating an increase in loss[18]. - Net impairment loss on financial assets increased from approximately HK$20,920,000 in 2019 to about HK$63,530,000 in 2020[18]. Revenue Breakdown - Income from the manufacturing of electronics products accounted for approximately 54.39% of total revenue in 2020, down from 71.35% in 2019[36]. - Interest income from money lending services rose to 24.81% of total revenue in 2020, up from 12.41% in 2019[36]. - Revenue from the manufacturing of electronics products decreased by 58.29% to approximately HK$55,005,000 in 2020 compared to HK$131,861,000 in 2019[37]. - Revenue from nursery education services dropped by 75.35% to approximately HK$1,756,000 in 2020, down from HK$7,124,000 in 2019[38]. - Revenue from electronic product manufacturing decreased by 58.29% to approximately HK$55,005,000 compared to HK$131,861,000 in 2019[41]. - Revenue from money lending services increased by 9.43% to approximately HK$25,095,000 compared to HK$22,933,000 in 2019[43]. - Revenue from regulated financial services decreased by 27.21% to approximately HK$8,042,000 compared to HK$11,048,000 in 2019[45]. - Revenue from early childhood education services decreased by 75.35% to approximately HK$1,756,000 compared to HK$7,124,000 in 2019[42]. Assets and Liabilities - Total assets as of December 31, 2020, were HK$1,360.94 million, a slight decrease from HK$1,389.72 million in 2019[13]. - Total liabilities increased to HK$802.36 million in 2020 from HK$772.76 million in 2019[13]. - Net assets decreased to HK$558.58 million in 2020 from HK$616.96 million in 2019[13]. - As of December 31, 2020, the Group's cash and cash equivalents were approximately HK$11,598,000, down from HK$26,088,000 in 2019[51]. - The Group's interest-bearing borrowings were approximately HK$498,952,000, a decrease from HK$502,549,000 in 2019[52]. - The gearing ratio of the Group increased to 0.87 from 0.77 in 2019, indicating a higher level of debt relative to equity[52]. - The net asset value of the Group as of December 31, 2020, was approximately HK$558,580,000, down from HK$616,964,000 in 2019[53]. Employee and Management Costs - The total staff costs incurred for 2020 were approximately HK$29,983,000, a decrease from approximately HK$40,818,000 in 2019[59]. - As of December 31, 2020, the group had approximately 250 employees, a decrease from about 300 employees in 2019, with total employee costs amounting to approximately HKD 29,983,000 in 2020, down from HKD 40,818,000 in 2019[62]. - Executive Directors waived part of their salaries, amounting to approximately HK$6,438,000 and HK$5,238,000 respectively, during the year[109]. Corporate Governance and Shareholder Information - The Company is a diversified investment holding company, with principal subsidiaries' activities detailed in the consolidated financial statements[77]. - The Directors' report includes audited consolidated financial statements for the year ended December 31, 2020[76]. - The Company has adopted all code provisions in the Corporate Governance Code and complied with applicable provisions throughout the year[188]. - The Board comprises five Directors, including two executive Directors and three independent non-executive Directors[190]. - Each independent non-executive director confirmed their independence in accordance with Rule 3.13 of the Listing Rules[200]. - The Company maintained a public float of not less than 25% of its issued shares as required under the Listing Rules[134]. - The Company did not purchase, sell, or redeem any of its listed securities during the year[144]. Dividend Policy - The Group did not recommend the payment of a final dividend for the year ended December 31, 2020, consistent with 2019, where no dividend was declared[78]. - The Company adopted a Dividend Policy on January 21, 2019, which considers financial results, prospects, and other factors when declaring dividends[79]. - The Company had no distributable reserves available for distribution to shareholders as of December 31, 2020[87]. - The Company does not have a pre-determined dividend distribution ratio, and the Board has discretion over dividend declarations[83]. Bond Issuance and Financial Strategy - The company issued bonds amounting to HK$300 million on December 29, 2017, with an interest rate of 8% per annum, to support funding needs for various operations[88]. - The company plans to use the bond proceeds for funding its debt business, capital expenditures in early childhood education, and general working capital[94]. - The company has extended the maturity date of the bonds to accommodate its financial strategy[96]. - The company is required to redeem HK$10,000,000 of the bonds by December 28, 2020, and a minimum of HK$20,000,000 by June 28, 2021[97]. - The interest rate on the bonds was increased from 8% to 10% per annum, and the final maturity date was extended to June 28, 2022[97]. - As of December 31, 2020, the outstanding principal amount of the bonds was HK$260,000,000 after partial repayments of HK$40,000,000[96]. Risk Management - The group did not engage in any derivative activities or undertake any financial instruments to hedge its financial risk as of December 31, 2020[61]. - The group has pledged equity interests in several subsidiaries as collateral for bonds issued on December 29, 2017[60]. - The group has pledged office properties and restricted bank deposits to secure loans[60]. Events After Reporting Period - There are no significant events requiring disclosure that occurred after December 31, 2020, up to the date of the report[156][160].