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 ...

Financial Performance - For the six months ended June 30, 2022, the Group recorded a turnover of approximately HK$7.43 million, representing a decrease of approximately 44% compared to HK$13.34 million in the corresponding period last year[16]. - Net loss attributable to shareholders was approximately HK$3.04 million for the reporting period, compared to a net profit of approximately HK$2.84 million in the same period last year[17]. - Loss per share was approximately 0.27 HK cents for the six months ended June 30, 2022, compared to a profit per share of approximately 0.25 HK cents in the previous year[18]. - Revenue from hotel operations decreased by approximately 53% to HK$5.03 million for the six months ended June 30, 2022, down from HK$10.68 million in the corresponding period of 2021[32]. - The Group recorded a share of loss from its interest in Fuzhou Harmony Piano of approximately HK$0.67 million due to declining market sales and rising manufacturing costs[39]. - The loss for the period was HKD 3,042,230, compared to a profit of HKD 2,838,600 in the previous year[188]. - Total comprehensive expense for the period was HKD 4,842,312, compared to a total comprehensive income of HKD 4,927,092 in the same period last year[191]. Asset and Liquidity Management - Net assets decreased by approximately HK$4.85 million to approximately HK$424.82 million as of June 30, 2022, compared with HK$429.67 million as of December 31, 2021[17]. - As of June 30, 2022, the Group had a net cash balance of approximately HK$43.78 million, down from HK$49.52 million as of December 31, 2021[44]. - The liquidity ratio as of June 30, 2022, was 4.26, down from 4.83 as of December 31, 2021[44]. - Cash and cash equivalents at the end of the period were HKD 43,782,805, down from HKD 49,520,268 at the beginning of the period[194]. - Current liabilities totaled HKD 10,697,963, compared to HKD 10,693,113 at the end of the previous year[190]. Hotel Operations and Market Conditions - The hotel occupancy rate dropped to 17% from 44% in the previous year, indicating a significant decline in demand[11]. - The average daily rate of hotel decreased to HK$287 from HK$326 year-on-year[11]. - The average occupancy rate for the Group's hotels was approximately 17%, representing a decrease of 61% compared to 44% in the same period last year[33]. - The average daily rate (ADR) for hotel rooms was approximately RMB287, which is a decrease of 12% from RMB326 in the corresponding period of 2021[33]. - Accommodation revenue from star-rated hotels was approximately HK$2.06 million, representing a decrease of approximately 67% over the corresponding period of 2021[35]. - Catering revenue generated approximately HK$2.16 million, representing 43% of hotel business turnover, an increase of 10 percentage points from 33% in the same period last year[37]. - The hotel operating income has declined periodically due to the local spread of the epidemic, with customer source accounting for 46% of the total, down 5 percentage points from 51% in the same period last year[37]. - The outlook for the commercial property market remains uncertain due to weak demand and ongoing pressure on rental rates[39]. Strategic Initiatives and Future Outlook - The Group aims to leverage its advantages in Fujian Province to enhance its long-term competitiveness in the tourism-related industries[20]. - The overall situation of the hotel industry is improving as the ability to respond to the epidemic enhances with the normalization of epidemic prevention and control in China[20]. - The Group plans to actively promote reform and integration to improve its internal impetus and long-term competitiveness for sustainable development[20]. - The Group aims to revitalize and optimize its asset management in Hong Kong to improve efficiency and release value[22]. - The Group is focusing on integrating hotel resources, cultural tourism, and equity investment to establish a core business industry chain and enhance competitiveness[22]. - The Group aims to improve operational efficiency through strict cost control measures to minimize adverse impacts from the epidemic[37]. - The Group plans to adopt a market-oriented incentive mechanism to seek new breakthroughs in cultural and tourism-related industries[47]. Corporate Governance and Management - The Company has adopted the Model Code for Securities Transactions as its code of conduct for Directors[78]. - The Company has a strong management team with extensive experience in finance and operational management[88]. - The Board comprises a total of nine Directors, including three Executive Directors, three Non-executive Directors, and three Independent Non-executive Directors[105]. - The Company has fully complied with the Corporate Governance Code provisions throughout the six months ended 30 June 2022[105]. - The internal audit team monitors compliance with policies and procedures, ensuring the effectiveness of risk management and internal control systems[129]. - The Audit Committee has reviewed the interim results and the interim report for the six months ended June 30, 2022[133]. - The Company has established measurable objectives for implementing the Board Diversity Policy and monitors progress towards these objectives[139]. Employee and Shareholder Information - As of June 30, 2022, the Group employed approximately 126 employees in Hong Kong and Xiamen, with remuneration based on performance and market rates[75]. - The Group operates a Mandatory Provident Fund (MPF) Scheme for all its employees in Hong Kong, with contributions based on a percentage of employees' salaries[181]. - As of June 30, 2022, at least 25% of the Company's total issued share capital was held by the public[182]. - The total contributions made by the Group to the retirement benefit plans during the review period are charged to the consolidated income statement[181].

Financial Performance - Revenue for the year ended December 31, 2021, was HK$23,427,000, a decrease of 8.8% from HK$25,689,000 in 2020[9] - Profit before tax increased to HK$2,683,000, up 142.5% from HK$1,108,000 in the previous year[9] - Profit for the year attributable to owners of the Company was HK$3,641,000, representing an increase of 79.7% compared to HK$2,027,000 in 2020[9] - Earnings per share for the year was HK$0.32, an increase of 77.8% from HK$0.18 in 2020[12] - Profit for the year attributable to owners of the Company increased by 79.63% to HK$3.64 million compared to HK$2.03 million in 2020[24] Assets and Liabilities - Total assets as of December 31, 2021, were HK$441,761,000, a slight increase from HK$439,508,000 in 2020[10] - Total liabilities decreased to HK$12,100,000 from HK$16,604,000 in 2020, indicating improved financial health[10] - The company reported a net asset value of HK$429,661,000 as of December 31, 2021, compared to HK$422,904,000 in 2020[10] - The net asset value of the Group was approximately HK$429.66 million as of December 31, 2021, up from HK$422.91 million in 2020[51] - The liquidity ratio was 4.83 as of December 31, 2021, compared to 4.16 in 2020[51] Revenue Breakdown - Accommodation revenue from star-rated hotel operations increased by approximately 7.37% to HK$10.18 million compared to the previous year[36] - The turnover from hotel operations was approximately HK$18.28 million, representing a decrease of approximately 2.19% from HK$18.69 million in 2020[29] - Catering revenue accounted for 33% of total revenue, amounting to HK$6.04 million, down from 37% in the previous year[35] - Rental revenue contributed 8% to total revenue, totaling HK$1.39 million, compared to 9% in the previous year[35] - Catering revenue reached approximately HK$6.04 million, representing about 33% of the hotel operation's turnover[39] Operational Challenges - Hotel accommodation revenue is significantly impacted by rising operational costs and COVID-19, with conference-related customers accounting for 54.15% of total clients[39] - The hotel occupancy rate decreased by 13.14% to 36.56% from 42.09% in 2020[33] - The Group is implementing cost-saving measures and minimizing cash spend to maintain financial stability during the pandemic[27] Management and Strategy - The Group plans to focus on investment management and operational management for continuous value-based growth[45] - The Group aims to strengthen and optimize its management team and seek breakthroughs in tourism-related business areas[47] - The Group will promote the integration of resources and diversify income sources to enhance overall asset return and enterprise value[47] - The Group aims to enhance management efficiency and optimize internal processes to drive future growth[48] - The Group plans to leverage opportunities from state-owned enterprise reforms to strengthen its management team and diversify revenue sources[49] Governance and Compliance - The Company continues to focus on compliance and governance standards as part of its operational strategy[80] - The Group maintained compliance with all relevant PRC laws and regulations regarding occupational health and safety during the reporting period[147] - The Board is unaware of any non-compliance with laws and regulations that significantly impact the Group's business and operations during the year[170] Shareholder Information - As of December 31, 2021, the total share capital of the Company was HK$898,839,029, divided into 1,145,546,000 ordinary shares[50] - The Group's share capital consisted of 1,145,546,000 ordinary shares as of December 31, 2021[138] - The register maintained by the Company shows that certain substantial shareholders had interests or short positions in the shares of the Company, with some holding 5% or more of the nominal value of any class of share capital[198] Directors and Management Experience - Ms. Chen Danyun has over 30 years of experience in international trade, corporate management, and investment management[84] - Mr. Chen Yang has approximately 30 years of experience in finance management and has held various management positions[86] - Mr. Wang Ruilian has over 35 years of experience in management and finance, previously serving as an executive director and general manager[94] - Ms. Weng Weijian has over 25 years of experience in risk management, accounting, and financial management[96] - The Company has a diverse board with extensive experience in finance, management, and corporate strategies[93] Risk Management - The Group identified key risks including economic downturns, operational challenges, regulatory compliance, and financial risks that could affect its business prospects[154] - The Group emphasizes the importance of maintaining good relationships with stakeholders, including customers, suppliers, and employees, to ensure sustainable business growth[167] - The Group is committed to sustainable operations while balancing the interests of various stakeholders, including customers, suppliers, and employees[168] Dividend and Financial Policies - The Group did not recommend the payment of a dividend for the year ended December 31, 2021[78] - The Directors do not recommend the payment of a dividend for the year ended December 31, 2021[119] - The Group did not have any outstanding bank loans or other borrowings as of December 31, 2021[54]

Financial Performance - For the six months ended June 30, 2021, the Group recorded a turnover of approximately HK$13.34 million, representing an increase of approximately 75.30% compared to HK$7.61 million in the corresponding period last year[11]. - Net profit attributable to shareholders was approximately HK$2.84 million for the reporting period, compared to a net loss of approximately HK$1.83 million for the same period in 2020[14]. - Profit per share was approximately 0.25 HK cents for the six months ended June 30, 2021, compared to a loss per share of approximately 0.16 HK cents for the same period in 2020[14]. - Revenue from hotel operations increased by approximately 155.8% to HK$10.68 million for the six months ended 30 June 2021, compared to HK$4.17 million for the same period in 2020[24]. - Total comprehensive income for the period was HKD 4,927,092, compared to a total comprehensive loss of HKD 2,581,818 in the same period last year[146]. - Profit before tax for the same period was HKD 2,412,766, compared to a loss of HKD 2,137,524 in the previous year[146]. - Profit for the period attributable to owners of the Company was HKD 2,838,600, a significant recovery from a loss of HKD 1,833,650 in the prior year[146]. Operational Metrics - Average daily rate of hotel increased to HK$326, a rise of 9% from HK$298 in the previous year[11]. - Hotel occupancy rate improved significantly to 44%, up 175% from 16% in the same period last year[11]. - Accommodation revenue was approximately HK$6.23 million, representing an increase of approximately 200% over the corresponding period of 2020[29]. - Catering revenue accounted for 33% of total revenue, amounting to HK$3.52 million for the six months ended 30 June 2021[28]. - Conference-related customers accounted for 51% of the total customer base, highlighting a focus on business clients[34]. Financial Position - Net assets increased by approximately HK$4.93 million to approximately HK$427.83 million as of June 30, 2021, compared to HK$422.90 million as of December 31, 2020[14]. - The Group maintained a low gearing ratio of 0.45% as of 30 June 2021, down from 0.6% on 31 December 2020, indicating a strong financial position[23]. - The Group had a net cash balance of approximately HK$52.98 million as of June 30, 2021, compared to HK$55.70 million on December 31, 2020[46]. - The net asset value of the Group was approximately HK$427.83 million as of June 30, 2021, with a liquidity ratio of 4.51[46]. - There were no outstanding bank loans or other borrowings by the Company and the Group as of June 30, 2021[48]. Strategic Outlook - The Group aims to continue its recovery and growth trajectory in the upcoming periods, focusing on enhancing operational efficiency and expanding market presence[14]. - Future strategies may include exploring new market opportunities and potential acquisitions to drive growth[14]. - The management remains optimistic about the overall market conditions and the Group's ability to capitalize on emerging trends[14]. - The Group plans to enhance management efficiency and diversify income sources by integrating hotel resources and expanding into new business formats[22]. - The Group plans to enhance its sales efforts in wedding banquets and catering services to diversify operations[34]. Corporate Governance - The Group emphasizes strong corporate governance with a focus on audit and remuneration committees led by experienced professionals[83]. - The Board consists of nine Directors, including three Executive Directors, three Non-executive Directors, and three Independent Non-executive Directors[87]. - The Company has received confirmation of independence from all three Independent Non-executive Directors, ensuring compliance with Listing Rules[88]. - The Board is responsible for the Group's risk management and internal control systems, which are reviewed annually for effectiveness[99]. - The Company fully complied with the Corporate Governance Code provisions throughout the six months ended 30 June 2021[87]. Management and Leadership - The company has a strong leadership team with extensive experience in various sectors, including tourism, finance, and corporate management[68]. - The management team includes professionals with advanced degrees in economics and business administration from reputable universities[66][68]. - The leadership has a proven track record in driving growth and managing complex corporate structures[68]. - The Company is committed to leveraging its experienced management team to navigate market challenges and opportunities[68]. Employee and Community Engagement - The Group is actively encouraging staff vaccinations to ensure safety and support business recovery during the ongoing pandemic[23]. - The Group's employer contributions to the MPF Scheme vest fully with employees upon contribution[141]. - The Group's subsidiary in mainland China participates in a state-managed retirement benefit plan operated by the government[141].

Financial Performance - Revenue for the year ended December 31, 2020, was HK$25,689,000, a decrease of 38.9% from HK$42,005,000 in 2019[9] - Profit before tax for 2020 was HK$1,108,000, down 89.1% from HK$10,219,000 in the previous year[9] - Profit for the year attributable to owners of the Company was HK$2,027,000, a decline of 78.6% compared to HK$9,462,000 in 2019[9] - The overall financial performance indicates significant challenges faced by the company in 2020, with a notable decline in profitability and revenue[9] - The Group recorded a revenue of approximately HK$25.69 million for the year ended 31 December 2020, representing a decrease of approximately 38.85% compared to HK$42.01 million in the previous year[30] - Net profit attributable to shareholders decreased to approximately HK$2.03 million, down 78.58% from HK$9.46 million in 2019[30] - Earnings per share for the year was approximately 0.18 HK cents, a decline of 78.31% from 0.83 HK cents in the previous year[30] - The turnover from hotel operations was approximately HK$18.69 million, representing a decrease of approximately 46.35% from HK$34.84 million in 2019[41] Assets and Liabilities - Total assets as of December 31, 2020, increased to HK$439,508,000 from HK$430,302,000 in 2019, representing a growth of 0.3%[10] - Total liabilities decreased to HK$16,604,000 in 2020 from HK$19,148,000 in 2019, a reduction of 13.3%[10] - Net assets rose to HK$422,904,000 in 2020, up from HK$411,154,000 in 2019, indicating a growth of 2.0%[10] - The company's capital debt ratio improved to 0.6% as of December 31, 2020, compared to 1.2% in 2019[46] - The Group had a net cash balance of approximately HK$55.70 million as of December 31, 2020, compared to HK$55.97 million in 2019, with a net asset value of approximately HK$422.91 million[86] Operational Metrics - The average daily room rate decreased by 6.03% to RMB 296 from RMB 315[30] - Hotel occupancy rate dropped to 42.09%, down 48.37% from 81.52% in the previous year[30] - Accommodation revenue was approximately HK$9.48 million, down about 55.17% from HK$21.15 million in 2019, accounting for 51% of total hotel revenue[52][53] - Catering revenue was approximately HK$6.90 million, representing about 36.89% of hotel operation turnover, compared to HK$9.90 million in 2019[57][62] - Rental revenue contributed approximately HK$1.64 million, accounting for 9% of hotel operation turnover[60][63] Strategic Initiatives - The Group plans to enhance internal driving force and long-term competitiveness by implementing new business strategies in response to the COVID-19 pandemic[33] - The Group aims to diversify income sources by integrating hotel resources and expanding into new business formats[34] - The Group plans to continue searching for assets with healthy profitability and excellent growth potential for long-term investment while enhancing operational efficiency through a multi-dimensional operation-supporting system[69] - The Group aims to leverage the strengths of Fujian Tourism Development Group Company Limited to seek breakthroughs in tourism-related and other business areas, promoting effective resource integration[73] Corporate Governance - The Directors do not recommend the payment of a dividend for the year ended December 31, 2020[30] - The Group had no significant contingent liabilities during the year under review[93] - The Group's policies regarding foreign currency risk exposure remained unchanged, with a focus on monitoring and potential hedging strategies[89] - The Group's procurement policy is based on maintaining good relationships and communication with suppliers as strategic partners[186] Human Resources - The Group had approximately 132 employees as of December 31, 2020, with remuneration packages based on performance and market rates[101] - The Group's commitment to employee training and retention is crucial for sustainable business growth[186] Environmental and Compliance - The Group reported no environmental claims, lawsuits, penalties, or administrative sanctions during the reporting period[170] - The Group is committed to minimizing environmental impact through various assessments and policies aligned with international best practices[170] - The Board is unaware of any significant non-compliance with laws and regulations affecting the Group's business and operations[190] Management Experience - Mr. Chen led FTDC to be ranked among the top 20 tourism groups in China for four consecutive years[117] - Ms. Chen has over 30 years of experience in international trade and corporate management[121] - Mr. Chen has approximately 30 years of experience in finance management[123] - Mr. Wang has over 35 years of experience in management and finance[132] - Ms. Weng has over 25 years of extensive experience in risk management and financial management[136]