Financial Performance - Revenue for the year ended December 31, 2024, was HK$24,030,000, a decrease of 31.75% compared to HK$35,207,000 in 2023[9] - The loss for the year increased to HK$33,108,000 in 2024 from HK$22,829,000 in 2023, representing a 45.06% increase in losses[19] - Basic loss per share for 2024 was HK$2.89, a 47.74% increase from HK$1.99 in 2023[19] - The decrease in turnover is mainly attributed to the decline in business volume of star-rated hotel operations during the year[40] - For the year ended 31 December 2024, the hotel operation turnover was approximately HK$20.06 million, representing a decrease of approximately 35.95% from HK$31.32 million in 2023[45] - Accommodation revenue was approximately HK$10.10 million, a decrease of approximately 39% compared to the previous year[49] - Catering revenue generated approximately HK$7.97 million, representing a decrease of approximately 37% over the corresponding year[50] Asset and Liability Management - Total assets as of December 31, 2024, were HK$354,231,000, a decrease from HK$390,200,000 in 2023[11] - Total liabilities decreased to HK$8,988,000 in 2024 from HK$11,281,000 in 2023[11] - Net assets as of December 31, 2024, were HK$345,243,000, down from HK$378,919,000 in 2023[11] - The net asset value of the Group was approximately HK$345.42 million as of December 31, 2024, compared to HK$378.92 million in 2023[75] - The Group had a net cash balance of approximately HK$31.57 million as of December 31, 2024, down from HK$39.47 million in 2023[75] - The gearing ratio of the Group was 2.60% as of 31 December 2024, a slight decrease from 2.98% in 2023, indicating a low debt ratio and ample liquidity[41] Operational Efficiency and Strategy - The Group is actively studying revitalization and optimization plans for stock assets, including Hong Kong properties, to improve asset management efficiency[30] - The Group aims to strengthen the integration of hotel resources, cultural tourism, and green environmental protection industries to enhance core competitiveness[30] - Future prospects include tapping into the potential of basic consumption and promoting new types of consumption such as community commerce and green consumption[29] - The Group will focus on cost control to minimize cash outflows while enhancing internal management and training[41] - The hotel management is actively expanding diversified operations and enhancing its dining business model, including online sales cooperation with banquet platforms[53] Investment and Market Position - The fair value of the equity interest in Fujian Huamin Leasing was HK$104.57 million as of 31 December 2024, representing approximately 29.52% of the total assets of the Company[63] - The interest in finance leasing contributed approximately HK$9.50 million profit in fair value for the year, compared to a loss of approximately HK$9.44 million in 2023[68] - The significant investment in Fujian Huamin Leasing was valued at approximately HK$104.57 million as of December 31, 2024, representing about 29.52% of the total assets of the Company[97] - The investment cost in Fujian Huamin Leasing is approximately HKD 76.42 million, and it generated a profit of about HKD 9.5 million through fair value changes during the year[99] - The financial leasing industry in China is projected to grow to approximately RMB 12 trillion in 2025, driven by economic recovery and government policy support[100][104] Corporate Governance and Management - The company has a strong management team with diverse backgrounds in finance, legal, and operational roles, enhancing its strategic capabilities[139] - The company is focused on expanding its operational management across various sectors, leveraging the experience of its directors[138] - The board includes members with extensive experience in risk management, accounting, and financial management, ensuring robust oversight[134] - The leadership team includes individuals with advanced degrees from prestigious institutions, enhancing the company's strategic direction[148] - The company is committed to maintaining compliance with legal obligations as confirmed by Mr. Su on March 6, 2025[129] Employee and Operational Details - The company had approximately 112 employees as of December 31, 2024, with remuneration packages based on performance and market rates[103] - The Group's five largest customers accounted for approximately 36.40% of total sales for the year, down from 44.45% in 2023, with the largest customer contributing about 14.35%[179] - Purchases from the Group's five largest suppliers represented approximately 62.49% of total purchases, slightly up from 61.40% in 2023, with the largest supplier accounting for about 29.41%[180] Dividend and Reserves - The company does not recommend the payment of dividends for the year ended December 31, 2024[110] - There were no reserves available for distribution to shareholders as of December 31, 2024[109] - There were no distributable reserves available for shareholders as of December 31, 2024, consistent with 2023[183] Compliance and Regulatory Matters - The company has confirmed compliance with legal obligations as per Rule 3.09D of the Listing Rules[142] - There were no continuing connected transactions required to be disclosed under the Listing Rules during the year[194] - No continuous related party transactions were disclosed during the year as per the Listing Rules[199] - The company reported no serious accidents or claims related to occupational health and safety during the reporting period[200]

Financial Performance - Revenue for the year ended December 31, 2024, was HKD 24,030 million, a decrease of 31.7% compared to HKD 35,207 million in 2023[2] - The loss attributable to shareholders for the year was HKD 33,108 million, compared to a loss of HKD 22,829 million in the previous year, representing an increase in loss of 45.1%[3] - Basic and diluted loss per share for the year was HKD 2.89, worsening from HKD 1.99 in 2023[4] - Other income for the year was HKD 756,743 million, down from HKD 816,414 million in 2023, reflecting a decrease of 7.3%[3] - The group reported a pre-tax loss of HKD 33,108 million, compared to a pre-tax loss of HKD 23,755 million in the previous year, indicating a 39.4% increase in losses[3] - The group reported a loss before tax of HKD 33,108,143 for the year, compared to a loss of HKD 23,755,240 in the previous year, reflecting a deterioration in performance[17] - The group’s total comprehensive loss for the year was HKD 33,108,143, compared to a loss of HKD 22,829,072 in the previous year[17] - The company reported a net loss attributable to shareholders of approximately HKD 33.11 million for the year ended December 31, 2024, compared to a loss of HKD 22.83 million in 2023, indicating a deterioration in financial performance[35] - Total revenue for the year was approximately HKD 24.03 million, a decrease of about 31.75% from HKD 35.21 million in the previous year, primarily due to a decline in revenue from star-rated hotel operations[35] Asset and Liability Management - Total assets decreased to HKD 345,421 million from HKD 378,919 million, a decline of 8.9% year-over-year[6] - Non-current assets, including property, plant, and equipment, decreased to HKD 3,517 million from HKD 9,045 million, a significant drop of 61.1%[6] - Current liabilities decreased to HKD 8,809 million from HKD 11,281 million, a reduction of 21.9%[6] - Total assets decreased from HKD 390,200,671 in 2023 to HKD 354,230,627 in 2024, a decline of approximately 9.2%[19] - Total liabilities decreased from HKD 11,281,185 in 2023 to HKD 8,988,000 in 2024, a reduction of about 20.6%[19] - The total amount of trade and other receivables decreased to HKD 1.32 billion in 2024 from HKD 1.89 billion in 2023, indicating a reduction in outstanding receivables[31] - The total amount of trade and other payables decreased to HKD 7.78 billion in 2024 from HKD 11.03 billion in 2023, reflecting improved cash flow management[33] Revenue Breakdown - Hotel business revenue for 2024 was HKD 20,063,597, down 35.9% from HKD 31,315,108 in 2023[14] - Revenue from external customers in mainland China dropped from HKD 31,315,108 in 2023 to HKD 20,063,597 in 2024, a decrease of approximately 35.9%[22] - Revenue from external customers in Hong Kong increased slightly from HKD 3,891,544 in 2023 to HKD 3,966,316 in 2024, an increase of about 1.9%[22] - Revenue from room sales was approximately HKD 10.1 million, accounting for 50% of total revenue, a decrease of about 39% compared to the previous year[38] Operational Efficiency - The average occupancy rate for hotels was approximately 44% for the year, down about 34.33% from 67% in 2023[37] - The average daily room rate was approximately RMB 327, a decrease of 3.82% from RMB 340 in the previous year[37] - The company plans to enhance its operational strategies by diversifying its business and expanding its catering services to improve revenue streams[40] - The company plans to strengthen supply chain management and control costs to improve operational efficiency[47] - The company aims to explore online sales and enhance marketing efforts to attract new customers and retain existing ones[47] Investment and Fair Value - The fair value of investment properties decreased by HKD 19,200,000 in 2024, compared to a decrease of HKD 7,800,000 in 2023[17] - The fair value of the company's equity interest in Fujian Huamin Leasing was HKD 104.57 million, representing about 29.52% of the company's total assets[45] - The investment cost in Fujian Huamin Leasing was approximately HKD 76.42 million, generating a profit of about HKD 9.5 million from fair value changes during the year, with no dividend income earned[62] - The financial leasing industry in China is projected to continue growing, with an estimated business scale of approximately RMB 12 trillion by 2025[63] - Key growth factors for the financial leasing market include economic recovery, government policy support, and growth in specific sectors such as asset-backed securities (ABS) for consumer loans and micro-enterprise loans[65] Corporate Governance and Risk Management - The management emphasizes that risk management is a crucial part of the corporate governance structure, focusing on investment risk, interest rate risk, and liquidity risk[76] - The board is committed to maintaining high levels of corporate governance and transparency, adhering to the corporate governance code as of December 31, 2024[75] - The group aims to manage liquidity risk to ensure sufficient funds for debt repayment and business expansion opportunities[77] - The board has reviewed the effectiveness of the internal control and risk management systems, covering financial, operational, compliance, and risk management functions[77] - The internal control system is deemed effective, with no significant deficiencies reported in compliance or fraud[78] - The group emphasizes the importance of good corporate governance for maintaining investor confidence and sustainable development[78] Shareholder Communication - The company ensures timely communication with shareholders through various reports and notices, including annual reports sent at least 21 days before the annual general meeting[79] - The company maintains a public shareholding of at least 25% of its issued share capital[83] - The annual report for the year ending December 31, 2024, will be sent to shareholders and published on the company's website[84] - The audit committee has reviewed the audited consolidated financial statements for the year ending December 31, 2024, confirming the accuracy of the reported figures[85] - The company expresses gratitude to shareholders, partners, and employees for their support and contributions to the group's development[86] Employee and Compensation - The company has approximately 112 employees in Hong Kong and Xiamen, with compensation based on performance and market rates, and offers training and medical insurance opportunities[67] Capital Expenditures - Capital expenditures for the review period were approximately HKD 90,000, an increase from HKD 30,000 in the previous year[59] Debt Management - The company maintained a low debt ratio of 2.60% as of December 31, 2024, compared to 2.98% in 2023, reflecting a stable financial condition[36] - The company had no bank loans or other borrowings as of December 31, 2024, consistent with the previous year[54] Equity and Dividends - As of December 31, 2024, the company has no distributable reserves for shareholders, nor does it recommend any dividend distribution for the fiscal year[68][69]

Financial Performance - The Group recorded a turnover of approximately HK$12.84 million for the six months ended 30 June 2024, representing a decrease of approximately 23% compared to HK$16.62 million in the same period last year[8]. - Net loss attributable to Shareholders was approximately HK$21.25 million for the reporting period, compared to a net profit of approximately HK$0.51 million for the six months ended 30 June 2023[8]. - Loss per share was approximately 1.86 HK cents for the six months ended 30 June 2024, while profit per share was approximately 0.04 HK cents for the same period last year[8]. - The Group recorded a loss attributable to owners of the Company of HK$21.25 million for the six months ended 30 June 2024, compared to a profit of approximately HK$0.51 million in the same period of 2023, primarily due to market volatility and asset impairments[21]. - The Group's turnover for the six months ended 30 June 2024 was approximately HK$12.84 million, representing a decrease of approximately 23% from HK$16.62 million in the corresponding period of the previous year[21]. - The Group reported a loss before tax of HKD 21,252,620, compared to a profit of HKD 131,629 in the previous year[101]. - Total comprehensive expense for the period was HKD 21,413,626, significantly higher than the previous year's expense of HKD 560,512[101]. - The consolidated loss for the period was HKD (21,252,620), a significant decline from a profit of HKD 507,292 in the previous year[117]. Assets and Liabilities - Net assets decreased by approximately HK$21.41 million to approximately HK$357.51 million as at 30 June 2024, compared with HK$378.92 million as at 31 December 2023[8]. - The gearing ratio of the Group as of 30 June 2024 was around 3%, unchanged from 31 December 2023, indicating a stable financial position[21]. - Total consolidated assets decreased to HK$369,774,053 as of June 30, 2024, from HK$390,200,671 as of December 31, 2023[121]. - Total liabilities decreased to HK$12,268,193 as of June 30, 2024, from HK$11,281,185 as of December 31, 2023[121]. - The company reported unallocated corporate liabilities of HK$3,278,229 as of June 30, 2024, compared to HK$944,894 as of December 31, 2023[121]. Revenue Breakdown - Accommodation revenue from star-rated hotel operations was approximately HK$5.85 million, representing a decrease of approximately 28% over the corresponding period of 2023[24]. - Catering revenue decreased by approximately 30% to HK$4 million compared to the same period in 2023[25]. - Revenue from hotel operations decreased significantly to HKD 10,903,008, down 25.6% from HKD 14,653,898 in the prior year[110]. - Gross rental income from investment properties was HKD 1,934,668, slightly down from HKD 1,961,876 in the previous year, reflecting a decrease of 1.2%[110]. Corporate Governance - The Group emphasizes corporate governance and is enhancing its risk prevention and control capabilities to support sustainable development[15]. - The Company fully complied with the Corporate Governance Code throughout the six months ended 30 June 2024[60]. - The Board consists of nine Directors, including three Executive Directors, three Non-executive Directors, and three Independent Non-executive Directors[60]. - The Company is committed to ongoing enhancements of corporate governance principles and practices[60]. - The Company emphasizes the importance of Board diversity, ensuring a balance of skills, experience, and perspectives in Board appointments[83]. Management and Strategy - The Group is actively reviewing existing businesses and updating strategies to adapt to future development, including optimizing asset management for Hong Kong properties[15]. - The Group aims to enhance its core business and strengthen its competitive edge by integrating various business clusters, including hotel resources and cultural tourism[17]. - The management team possesses strong international perspectives and extensive experience in business management and capital operation[43]. - The Group's strategic planning includes enhancing operational efficiency and expanding market presence[41]. Employee and Operational Metrics - The average occupancy rate for the hotel operation was approximately 48% for the six months ended 30 June 2024, down 25% from 64% in the same period of 2023[22]. - Employee benefits expense increased to HKD 6,277,993 from HKD 6,146,344, reflecting a rise of 2.1%[101]. - As of June 30, 2024, the Group employed approximately 117 employees in Hong Kong and Xiamen, with remuneration based on performance and market rates[36]. Cash Flow and Liquidity - As of June 30, 2024, the Group had a net cash balance of approximately HK$36.76 million, down from HK$39.47 million at the end of 2023[27]. - The liquidity ratio was 3.46 as of June 30, 2024, compared to 3.68 at the end of 2023[27]. - The net cash used in operating activities for the same period was HKD 2,437,512, compared to HKD 444,240 for the same period in 2023, indicating a significant increase in cash outflow[104]. Risk Management - The Group is exposed to foreign currency risks primarily due to operations in Hong Kong and Mainland China, with strategies in place to manage these risks[29]. - The Board is responsible for the Group's risk management and internal control systems, which are reviewed annually for effectiveness[69]. - The internal audit team monitors compliance with policies and procedures, providing assurance on the internal control system's effectiveness[70]. Investments and Shareholding - As of June 30, 2024, HC Technology Capital Company Limited holds 770,016,722 shares, representing approximately 67.22% of the issued share capital of the Company[97]. - Fujian Investment Holdings Company Limited and Fujian Huamin Industrial Group Company Limited each hold 786,948,772 shares, accounting for approximately 68.70% of the issued share capital[97]. - The company has not engaged in any arrangements that would allow directors or their families to acquire benefits from shares or debentures of the Company[94].

Financial Performance - Revenue for the six months ended June 30, 2024, was HKD 12,837,676, a decrease of 22.0% compared to HKD 16,615,774 for the same period in 2023[1][2] - The company reported a loss attributable to shareholders of HKD (21,252,620), compared to a profit of HKD 507,292 in the prior year, representing a significant decline[2][4] - Basic and diluted loss per share was HKD (1.86), compared to earnings of HKD 0.04 per share in the previous year[4] - The company reported a net loss of HKD 21.25 million for the six months ended June 30, 2024, compared to a profit of HKD 507.29 million for the same period in 2023[25] - The group reported a loss before tax of HKD 21,252,620 for the six months ended June 30, 2024, compared to a profit of HKD 131,629 in the same period of 2023[18] - The company’s total comprehensive expenses for the period amounted to HKD (21,413,626), compared to HKD (560,512) in the previous year[4][7] Revenue Breakdown - Hotel business revenue for the six months ended June 30, 2024, was HKD 10,903,008, down 25.6% from HKD 14,653,898 in the same period of 2023[13] - Room sales revenue for the six months ended June 30, 2024, was HKD 5,847,562, down 28.0% from HKD 8,107,457 in the same period of 2023[15] - Food and beverage revenue for the six months ended June 30, 2024, was HKD 5,055,446, a decrease of 22.7% from HKD 6,546,441 in the same period of 2023[15] - Total rental income from investment properties for the six months ended June 30, 2024, was HKD 1,934,668, a decrease of 1.4% from HKD 1,961,876 in the same period of 2023[13] - Revenue from external customers in mainland China for the six months ended June 30, 2024, is HKD 10.90 billion, down from HKD 14.65 billion in the same period of 2023, reflecting a decrease of approximately 25.5%[20] - Revenue from external customers in Hong Kong for the six months ended June 30, 2024, is HKD 1.93 billion, slightly down from HKD 1.96 billion in the same period of 2023, a decrease of about 1.2%[20] Assets and Liabilities - Non-current assets decreased to HKD 330,810,506 from HKD 348,644,936, a decline of 5.1%[5] - Current assets decreased to HKD 38,963,547 from HKD 41,555,735, a reduction of 6.9%[5] - Total assets as of June 30, 2024, are approximately HKD 369.77 billion, a decrease from HKD 390.20 billion as of December 31, 2023, representing a decline of about 5.5%[20] - Total liabilities as of June 30, 2024, are approximately HKD 12.27 billion, an increase from HKD 11.28 billion as of December 31, 2023, indicating an increase of about 8.8%[20] - The total amount of trade and other payables decreased to HKD 10.57 billion as of June 30, 2024, from HKD 11.03 billion as of December 31, 2023[34] Cash Flow and Financial Position - The company reported a net cash and bank balance of HKD 36,763,625, down from HKD 39,473,290, a decrease of 6.9%[5] - The group reported cash and cash equivalents of HKD 21,890,000 and RMB 12,779,000 as of June 30, 2024, compared to HKD 23,864,000 and RMB 13,139,000 as of December 31, 2023, indicating a decrease in cash reserves[52] - The company maintained a low debt ratio of approximately 3% as of June 30, 2024, consistent with the previous year[38] - The current ratio was 3.46, slightly down from 3.68 as of December 31, 2023, indicating stable liquidity[50] Operational Insights - The average occupancy rate for the star-rated hotels was approximately 48%, down about 25% from 64% in the same period last year[40] - The group aims to enhance marketing efforts and innovate to create differentiated value for customers, attracting new clients and retaining existing ones[48] - The hotel management is actively expanding diversified operations, including launching catering sales and online sales collaborations for events, contributing to initial success in banquet and group meal expansions[43] Corporate Governance and Compliance - The company adheres to corporate governance principles and has complied with the applicable corporate governance code provisions as of June 30, 2024[58] - The Audit Committee consists of three independent non-executive directors, including the chairperson, Ms. Liao Mei Ling, who is a qualified accountant[59] - The Audit Committee reviewed the interim financial performance for the period and confirmed that the reports comply with applicable accounting standards and legal requirements[60] Future Outlook - The group anticipates gradual recovery in the domestic hotel market as leisure and business travel demand increases[43] - The financing and treasury policy focuses on maintaining a balanced debt situation and diversified funding structure, ensuring sufficient and flexible liquidity for operations and potential investments[51]

Financial Performance - Revenue for 2023 increased by 86.30% to HK$35,207,000 compared to HK$18,898,000 in 2022[9] - Loss for the year was HK$22,829,000, representing a 59.55% increase from a loss of HK$14,308,000 in 2022[19] - Basic loss per share for 2023 was HK$1.99, up 59.20% from HK$1.25 in 2022[19] - The Group recorded a turnover of approximately HK$35.21 million for the year ended 31 December 2023, representing an increase of approximately 86.30% compared to HK$18.90 million in the previous year[23] - Net loss attributable to Shareholders was approximately HK$22.83 million for the reporting year, compared to a net loss of approximately HK$14.31 million in 2022[23] - Loss per share was approximately 1.99 HK cents for the year ended 31 December 2023, an increase from approximately 1.25 HK cents in 2022[24] Asset and Liability Management - Total assets decreased to HK$390,200,000 in 2023 from HK$414,437,000 in 2022[11] - Total liabilities slightly decreased to HK$11,281,000 in 2023 from HK$11,913,000 in 2022[11] - Net assets decreased to HK$378,919,000 in 2023 from HK$402,524,000 in 2022[11] - Current ratio for 2023 was 3.68, down from 3.82 in 2022[19] - Gearing ratio remained stable at 3% for both 2023 and 2022[19] - The gearing ratio of the Group was 2.98% as at 31 December 2023, compared to 2.67% in 2022, indicating a stable financial position[41] Hotel Operations - Average daily room rate increased by 11.48% to HK$340 from HK$305 in 2022[19] - Hotel occupancy rate improved significantly to 67% from 26% in the previous year, a 157.69% increase[19] - For the year ended 31 December 2023, hotel operation turnover was approximately HK$31.32 million, an increase of approximately 118% from HK$14.39 million in 2022[46] - The average occupancy rate increased to approximately 67% in 2023 from 26% in 2022, representing an increase of 158%[47] - Accommodation revenue was approximately HK$16.69 million, reflecting a 169% increase compared to the previous year[50] - Catering revenue reached approximately HK$12.63 million, marking a 102% increase over the corresponding year[53] Investment and Future Plans - The Group is actively studying revitalization plans for stock assets, including Hong Kong properties, to improve asset management efficiency[32] - The Group aims to strengthen its core competitiveness by integrating various business clusters, including hotel resources and cultural tourism[32] - Future market prospects are cautiously optimistic, with expectations of gradual recovery in consumer confidence and opportunities in the green environmental industry and cultural tourism[26] - The Group aims to enhance marketing efforts and explore new markets to improve brand influence and operational performance[70] - The Group plans to maintain a balanced debt profile and enhance cost-efficiency in funding initiatives[78] - The Group will continue to seek long-term investments with healthy profitability and growth potential[72] Leadership and Governance - The company has a strong leadership team with diverse backgrounds in finance, management, and international trade, enhancing its operational capabilities[133] - The board includes members with extensive experience in state-owned enterprises and mixed-ownership enterprises, providing valuable insights into regulatory compliance and operational models[136] - The company is focused on strategic management and capital operations, leveraging the expertise of its directors to drive growth[140] - The leadership team is committed to maintaining high standards of governance and financial oversight, ensuring the company's long-term sustainability[140] Customer and Supplier Relationships - The Group's five largest customers accounted for approximately 44.45% of total sales for the year, with the largest customer contributing about 15.87%[174] - Purchases from the Group's five largest suppliers represented approximately 61.40% of total purchases, with the largest supplier accounting for about 15.21%[175] - No directors or their associates had any beneficial interest in the Group's five largest customers or suppliers[176] Environmental and Compliance - The Group is committed to environmental sustainability, implementing policies aligned with international best practices[198] - No environmental claims or penalties were reported during the reporting period, indicating compliance with relevant laws[200]

Financial Performance - The company's revenue for the year ended December 31, 2023, was HKD 35,207,000, compared to HKD 18,898,000 for the previous year, representing an increase of approximately 86.5%[2] - The loss attributable to shareholders for the year was HKD 22,829,000, compared to a loss of HKD 14,308,000 in the previous year, indicating a worsening of approximately 59.5%[4] - Basic and diluted loss per share for the year was HKD 1.99, compared to HKD 1.25 in the previous year, reflecting an increase in loss per share of approximately 59.2%[5] - Total comprehensive loss attributable to shareholders for the year was HKD 23,604,754, compared to HKD 27,136,773 in the previous year, showing an improvement of approximately 13.5%[6] - The group reported a loss before tax of HKD 23,755,240 in 2023, compared to a loss of HKD 12,901,529 in 2022[21] - The group’s total loss for the year was HKD 22,829,072, increasing from a loss of HKD 14,307,797 in the previous year[21] - The company reported a net loss attributable to shareholders of approximately HKD 22.83 million for the year ended December 31, 2023, compared to a loss of approximately HKD 14.31 million in 2022, primarily due to losses from changes in fair value of investment properties and weak rental market conditions[45] Revenue Breakdown - Hotel business revenue reached HKD 31,315,108 in 2023, up 117.5% from HKD 14,386,432 in 2022[17] - Revenue from external customers in mainland China increased to 31,315,108 in 2023 from 14,386,432 in 2022, representing a growth of 117.5%[27] - The star-rated hotel segment generated revenue of approximately HKD 31.32 million for the year, up approximately 118% from HKD 14.39 million in 2022, attributed to the recovery of domestic consumption following the easing of pandemic restrictions[49] - The hotel management is actively expanding its catering business, which generated approximately HKD 12.63 million in revenue, a 102% increase from the previous year[52] Asset and Liability Management - Non-current assets decreased from HKD 373,449,314 in 2022 to HKD 348,644,936 in 2023, a decline of approximately 6.6%[8] - Current assets increased from HKD 40,987,607 in 2022 to HKD 41,555,735 in 2023, an increase of approximately 1.4%[8] - Total assets decreased from 414,436,921 in 2022 to 390,200,671 in 2023, a decline of approximately 5.2%[23] - Total liabilities decreased from 11,912,681 in 2022 to 11,281,185 in 2023, a reduction of about 5.3%[24] - The company's capital debt ratio was 2.98% as of December 31, 2023, compared to 2.67% in 2022, maintaining a low debt level[46] - The current ratio of the group was 3.68, down from 3.82 in 2022, indicating a slight decrease in liquidity[62] - The total equity of the group was approximately HKD 378.92 million, down from HKD 402.52 million in 2022[62] Investment and Fair Value Changes - The fair value loss on investment properties was HKD 7,800,000 in 2023, compared to HKD 900,000 in 2022[21] - The company reported a net decrease in the fair value of investment properties of 7,800,000 in 2023 compared to 900,000 in 2022, indicating a significant decline[29] - As of December 31, 2023, the fair value of the group's equity in Fujian Huamin Leasing was HKD 95.07 million, accounting for approximately 24.36% of the company's total assets[58] - The significant investment in Fujian Huamin Leasing resulted in a loss of approximately HKD 9.44 million due to fair value changes, with no dividend income earned during the year[76] - As of December 31, 2023, the group's investment properties were revalued at HKD 227.10 million by independent professional valuers[83] Operational Efficiency and Cost Management - The group’s administrative costs were HKD 6,748,996 in 2023, slightly up from HKD 6,576,677 in 2022[21] - The company aims to enhance internal management and control costs to minimize cash expenditures[46] - The group plans to strengthen supply chain management and control costs to improve operational efficiency and service capabilities[59] Employee and Corporate Governance - Employee benefits expenses rose to 13,407,499 in 2023 from 11,227,512 in 2022, an increase of approximately 19.5%[34] - The group employed approximately 131 staff in Hong Kong and Xiamen as of December 31, 2023, with compensation based on performance and market rates[77] - The board does not recommend any dividend distribution for the fiscal year ending December 31, 2023[79] - The board has conducted a review of the effectiveness of the internal control and risk management systems as of December 31, 2023[89] - The company emphasizes the importance of good corporate governance for maintaining investor confidence and sustainable development[91] - The board believes that the internal control and risk management systems are effective, with no significant deficiencies reported[91] Compliance and Reporting - The company ensures compliance with listing rules and other applicable regulations regarding disclosure responsibilities[93] - The audit committee has reviewed the audited consolidated financial statements for the year ending December 31, 2023[99] - The annual report for the year ending December 31, 2023, will be sent to shareholders and published on the company's website[98] - The company has a public float of at least 25% of its issued share capital as of the report date[97] Market Conditions - The occupancy rate for investment properties during the review period was only about 80% due to weak demand in the Hong Kong Grade A office market[54] - Hong Kong property rental income was approximately HKD 3.89 million, a decrease of about 14% compared to the same period last year[55]

Financial Performance - For the six months ended June 30, 2023, the Group recorded a revenue of approximately HK$16.62 million, representing an increase of approximately 124% compared to HK$7.43 million in the same period last year[10]. - Net profit attributable to Shareholders was approximately HK$0.51 million for the reporting period, a significant recovery from a net loss of approximately HK$3.04 million in the corresponding period last year[10]. - Earnings per share for the six months ended June 30, 2023, was approximately 0.04 HK cents, compared to a loss per share of approximately 0.27 HK cents in the same period last year[11]. - The Group's turnover for the same period was approximately HK$16.62 million, representing an increase of approximately 124% from HK$7.43 million in the corresponding period of the previous year[27]. - For the six months ended 30 June 2023, the Group recorded a net profit of approximately HK$0.51 million, a significant improvement from a loss of HK$3.04 million in the same period of 2022[26]. Hotel Operations - The average daily rate of hotel increased by 20% to HK$344, while the hotel occupancy rate rose significantly to 64%, up from 17% in the previous year[6]. - The average occupancy rate for the hotel operation was approximately 64%, a substantial increase of 276% compared to 17% in the same period of 2022[35]. - Accommodation revenue reached approximately HK$8.11 million, reflecting a 294% increase over the corresponding period of 2022[39]. - Catering revenue generated during the review period was approximately HK$5.67 million, representing an increase of approximately 163% compared to the same period in 2022[42]. - The Group is actively enhancing its hotel operations by expanding into cultural and educational services, such as establishing an "Education and Training Base"[30]. Financial Position - Net assets decreased by approximately HK$0.56 million to approximately HK$401.96 million as of June 30, 2023, compared to HK$402.52 million as of December 31, 2022[11]. - The gearing ratio as of 30 June 2023 was 0.14%, down from 0.29% as of 31 December 2022, indicating a strong financial position[28]. - As of June 30, 2023, the Group had a net cash balance of approximately HK$38.20 million, compared to HK$39.73 million at the end of 2022[61]. - The liquidity ratio was 3.47 as of June 30, 2023, compared to 3.82 at the end of 2022[61]. - The Group's investment property project rental rate was approximately 90% during the review period due to weak demand in the Hong Kong Grade A office market[50]. Corporate Strategy - The Group is focusing on revitalizing and optimizing stock assets, particularly in Hong Kong properties, to improve asset management efficiency and unlock value[19]. - The Group aims to strengthen the integration of hotel resources, cultural tourism, and green environmental protection industries to enhance core competitiveness[19]. - The overall goal of the Group is to maximize shareholder interests while fulfilling corporate social responsibility and integrating into national development[20]. - The Group aims to strengthen its core business and enhance brand value through innovative thinking and market-oriented incentive mechanisms[23]. - The Group aims to seek assets with healthy profitability and excellent growth potential for long-term investment while optimizing internal processes[59]. Management and Governance - The company has a strong management team with extensive experience in finance, international trade, and corporate management, enhancing operational efficiency[125]. - The company is committed to continuous improvement in corporate governance and operational strategies to drive growth[128]. - The Board consists of nine Directors, including three Executive Directors, three Non-executive Directors, and three Independent Non-executive Directors[155]. - The company emphasizes the importance of good corporate governance as a factor leading to its success[152]. - The Company has confirmed the independence of its three independent non-executive directors in compliance with Listing Rules[163]. Risk Management - The Board is responsible for the Group's risk management and internal control systems, which are reviewed annually for effectiveness[173]. - The management has established a process for identifying, evaluating, and managing significant risks faced by the Group[174]. - The Board ensures that appropriate accounting policies are consistently applied and that financial statements reflect a true and fair view of the Group's affairs[169]. - The Audit Committee reviews the adequacy of resources and qualifications of the Group's accounting and internal audit functions[176]. - The Board is satisfied that the risk management and internal control systems are reasonably effective and adequate, covering all material controls including financial, operational, and compliance controls[180].

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文件的內容概不 負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本文件 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。 閩 港 控 股 有 限 公 司 FUJIAN HOLDINGS LIMITED （於香港註冊成立之有限公司） （股份代號：00181） 截 至 二 零 二 三 年 六 月 三 十 日 止 期 間 之 中 期 業 績 之 公 告 財務摘要 截至 截至 二零二三年 二零二二年 六月三十日 六月三十日 止六個月 止六個月 港元 港元 • 收益 16,615,774 7,433,478 ...

Financial Performance - Revenue for the year ended December 31, 2022, was HK$18,898,000, a decrease of 19.5% compared to HK$23,427,000 in 2021[9] - The company reported a loss before tax of HK$12,902,000 for 2022, compared to a profit of HK$2,683,000 in the previous year[9] - Loss attributable to owners of the company for 2022 was HK$14,308,000, a significant decline from a profit of HK$3,641,000 in 2021[9] - The Group recorded a revenue of approximately HK$18.90 million for the year ended 31 December 2022, a decrease of approximately 19.33% compared to HK$23.43 million in 2021[27] - Net loss attributable to shareholders was approximately HK$14.31 million for 2022, compared to a profit of HK$3.64 million in 2021[27] - Loss per share was approximately 1.25 HK cents for the year ended 31 December 2022, down from earnings of 0.32 HK cents per share in 2021[28] - The group's turnover decreased to approximately HK$18.90 million for the year ended 31 December 2022, down from HK$23.40 million for the year ended 31 December 2021, representing a decline of approximately 19.57%[58] Assets and Liabilities - Total assets as of December 31, 2022, were HK$414,437,000, down from HK$441,761,000 in 2021, representing a decrease of 6.2%[11] - Total liabilities decreased to HK$11,913,000 in 2022 from HK$12,100,000 in 2021, indicating a reduction of 1.6%[11] - Net assets as of December 31, 2022, were HK$402,524,000, down from HK$429,661,000 in 2021, reflecting a decrease of 6.3%[11] - The group's net asset value was approximately HK$402.54 million, a decrease from HK$429.66 million in 2021[103] - The fair value of investment properties decreased by HK$0.90 million for the year ended 31 December 2022, compared to an increase of HK$2.00 million for the year ended 31 December 2021[51] - As of December 31, 2022, the Group's investment properties were revalued at HK$234.90 million[188] Liquidity and Capital Structure - The Group's liquidity ratios showed a current ratio of 3.82, down from 4.83 in the previous year[27] - The liquidity ratio was 3.82, compared to 4.83 in the previous year, indicating a decrease in liquidity[97] - The group's net cash balance as of December 31, 2022, was approximately HK$39.73 million, down from HK$49.52 million in 2021[97] - The total share capital of the Company as of December 31, 2022, was HK$898,839,029, divided into 1,145,546,000 ordinary shares[92] - The group had no bank loans or other borrowings as of December 31, 2022, consistent with 2021[107] Operational Performance - The average daily room rate decreased by 4.39% to HK$305 in 2022 from HK$319 in 2021[27] - The hotel occupancy rate dropped to 25.61% in 2022, down 29.95% from 36.56% in 2021[27] - Accommodation revenue for the star-rated hotel was approximately HK$6.20 million, representing a decrease of approximately 39.12% over the corresponding period of 2021[71] - Catering revenue increased to approximately HK$6.24 million, accounting for approximately 43% of the hotel business turnover, up from 33% in the same period last year[73] - Hotel room rental revenue was approximately HK$6.2 million, a decrease of about 39.12% compared to the same period last year due to weak domestic tourism[75] - Rental income from properties in Hong Kong was approximately HK$4.51 million, a decrease of about 12% compared to the same period last year[81] Management and Governance - Mr. Yang Liyu was appointed as the General Manager and Executive Director in June 2022, responsible for the overall strategic planning and management of the Company[137] - Mr. Zhang Jianmin joined as an Executive Director in June 2022, assisting the General Manager in daily operations[142] - The Company has a strong management team with over 30 years of experience in finance and management, including Mr. Zhang's previous roles in various financial institutions[143] - The Company emphasizes the importance of international perspectives and strong management experience in its leadership team, particularly with Mr. Yang's background in Hong Kong[138] - The leadership changes in June 2022 reflect a strategic shift towards enhancing operational efficiency and governance[159] Future Outlook and Strategy - The company has not provided specific guidance for future performance in the current report[8] - There are no updates on new product developments or market expansion strategies mentioned in the financial summary[8] - The Group plans to strengthen overall planning and coordination, focusing on the green environmental protection industry and cultural tourism for long-term development[30] - The Group is actively seeking suitable primary reserve projects to prepare for sustainable development in the next phase amid ongoing market challenges[64] - The Company has no future plans for material investments or capital assets as of December 31, 2022[121] Shareholder Information - The group did not recommend the payment of a dividend for the year ended December 31, 2022[123] - There were no distributable reserves available for shareholders as of December 31, 2022[186] - The Directors do not recommend the payment of a dividend for the year ended December 31, 2022[174] Customer and Supplier Concentration - The Group's five largest customers accounted for approximately 23.41% of total sales in 2022, down from 28.22% in 2021, with the largest customer contributing about 6.56%[182] - Purchases from the Group's five largest suppliers represented approximately 48.14% of total purchases in 2022, a decrease from 65.07% in 2021, with the largest supplier accounting for about 18.34%[183]

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。 閩 港 控 股 有 限 公 司 FUJIAN HOLDINGS LIMITED （於香港註冊成立之有限公司） （股份代號：00181） 年 度 業 績 公 佈 截 至 二 零 二 二 年 十 二 月 三 十 一 日 止 年 度 財務摘要 二零二二年 二零二一年 千港元 千港元 收益 18,898 23,427 本公司持有人應佔（虧損）╱盈利 (14,308) 3,641 每股（虧損）╱盈利 ...