| 股票名称 | 收盘价 | 最高价 | 创高率 | | --- | --- | --- | --- | | 金威医疗股权(08559) | 0.027 | 0.045 | 32.35% | | 中华银科技(00515) | 0.280 | 0.305 | 28.15% | | 宏辉集团(00183) | 0.255 | 0.255 | 27.50% | | 英皇钟表珠宝(00887) | 0.410 | 0.445 | 27.14% | | 岁宝百货(00312) | 0.082 | 0.095 | 21.79% | | 乐华娱乐(02306) | 2.540 | 2.650 | 13.73% | | 金威医疗(08143) | 0.124 | 0.230 | 10.05% | | 珠峰黄金(01815) | 2.190 | 2.300 | 6.98% | | 药师帮(09885) | 9.190 | 9.600 | 6.68% | | 嚐高美集团(08371) | 1.700 | 1.750 | 6.06% | | 世纪娱乐国际(00959) | 0.710 | 0.740 | 5.71% | | 北森控 ...

行业估值方面，地产行业市盈率（TTM）平均值为4.79倍，行业中值-0.15倍。宏辉集团市盈率-0.63 倍，行业排名第194位；其他百仕达控股（01168.HK）为0.3倍、百仕达控股（02983.HK）为0.35倍、恒 达集团控股（03616.HK）为1.71倍、美联集团（01200.HK）为2.37倍、瑞森生活服务（01922.HK）为 2.82倍。 资料显示，宏辉集团控股有限公司(宏辉集团)自二零一零年起在香港联交所主板上市。宏辉集团有三大 核心业务──物业开发及投资、室内设计及建筑工程、组合投资及管理。物业开发及投资是公司的核心 业务之一,旗下组合可带来长远稳定收入。经多年的增长,公司的业务范畴已扩大至提供室内设计及建筑 服务和组合投资及管理业务,本集团的资产值超过港币22亿元。公司扎根香港,一直于中国、英国、日 本、德国、柬埔寨及美利坚合众国('美国')等地扩展业务及加大投资。集团上下致力在香港扩大业务规 模,同时增加于海外的长远商业利益,藉此为股东及投资者缔造最丰硕的回报。 大事提醒 5月28日，截至港股收盘，恒生指数下跌0.53%，报23258.31点。宏辉集团（00183.HK）收报0.25 ...

| 招金矿业(01818) | 20.950 | 21.200 | 1.68% | | --- | --- | --- | --- | | 中国国航(00753) | 5.680 | 5.770 | 1.58% | | 同程旅行(00780) | 21.400 | 23.350 | 1.52% | | 香港交易所(00388) | 387.200 | 398.600 | 1.45% | | 东方海外国际(00316) | 146.100 | 149.500 | 1.36% | | 五谷磨房(01837) | 0.740 | 0.750 | 1.35% | | 赛迪顾问(02176) | 1.420 | 1.440 | 1.34% | | 中国东方教育(00667) | 6.300 | 6.340 | 1.28% | | ＧＸ日本全球领导 | 71.200 | 71.400 | 1.25% | | (03150) | | | | | 雅各臣科研制药(02633) | 1.270 | 1.350 | 1.12% | | 朝云集团(06601) | 2.740 | 2.780 | 1.09% | | 高力集团(01 ...

Financial Performance - Revenue for the six months ended December 31, 2024, was HKD 24,002,000, an increase of 29.4% compared to HKD 18,558,000 for the same period in 2023[4] - The net loss for the period was HKD 53,144,000, a significant improvement from a net loss of HKD 116,515,000 in the previous year, representing a reduction of 54.4%[4] - The total comprehensive loss for the period was HKD 52,110,000, compared to HKD 119,903,000 in the previous year, marking a decrease of 56.5%[5] - The group reported a loss attributable to owners of the company of HKD 53,088,000 for the six months ended December 31, 2024, a reduction in loss compared to HKD 116,463,000 in 2023, representing an improvement of 54.4%[35] - The group recorded a segment profit of approximately HKD 8,159,000 for the period, an increase from HKD 2,443,000 in the previous six months[97] Assets and Liabilities - Total assets as of December 31, 2024, were HKD 1,195,635,000, down from HKD 1,271,031,000 as of June 30, 2024, reflecting a decrease of 5.9%[7] - The company’s equity attributable to owners was HKD 1,334,537,000, down from HKD 1,386,554,000, a decrease of 3.7%[8] - The total non-current assets as of December 31, 2024, were HKD 718,489,000, a decrease from HKD 780,201,000 as of June 30, 2024[27] - As of December 31, 2024, the group's net current assets were approximately HKD 145,771,000, up from HKD 120,600,000 as of June 30, 2024[61] - The capital debt ratio was approximately 16% as of December 31, 2024, stable compared to 17% as of June 30, 2024[61] Cash Flow - The net cash inflow from operating activities for the six months ended December 31, 2024, was HKD 6,748,000, compared to HKD 1,973,000 for the same period in 2023, representing a significant increase[9] - The net cash inflow from investing activities was HKD 137,113,000, a turnaround from a net outflow of HKD 36,203,000 in the previous year[9] - The total cash and cash equivalents at the end of the period increased to HKD 213,693,000 from HKD 30,996,000 in the prior year, indicating a substantial growth[9] Investment Properties - The fair value loss on investment properties was HKD 51,809,000, an improvement from HKD 70,639,000 in the previous year, showing a reduction of 26.7%[4] - The group recorded a fair value loss of investment properties amounting to approximately HKD 51,809,000 for the period, primarily due to losses from specific commercial properties in Hong Kong[78] - The fair value loss for the investment property at 9 Queen's Road Central is approximately HKD 24,300,000 as of December 31, 2024[80] - The property located at 19 Hong Kai Road, Kowloon Bay has a total floor area of approximately 16,500 square feet and is fully leased to independent third parties, providing stable income and long-term appreciation potential[84] Revenue Sources - Revenue from contracts with customers for the six months ended December 31, 2024, was HKD 8,012,000, compared to HKD 2,472,000 for the same period in 2023, representing a significant increase of 223%[30] - Rental income from investment properties for the same period was HKD 10,670,000, slightly down from HKD 10,672,000 in 2023, indicating a marginal decrease of 0.02%[30] - Other income sources totaled HKD 5,320,000 for the six months ended December 31, 2024, compared to HKD 5,414,000 in 2023, reflecting a decrease of 1.73%[30] Shareholder Information - Major shareholder Dong Jingyi holds 392,131,566 shares, representing approximately 69.17% of the total issued shares[118] - The beneficial owner Pang Weixin holds a total of 57,489,600 shares, which is about 10.14% of the total issued shares[114] - The total number of shares held by the beneficial owner of Virtue Partner Group Limited is 334,641,966, representing 59.03% of the total issued shares[118] Corporate Governance - The company has maintained a high level of corporate governance, adhering to all corporate governance codes during the reporting period[126] - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited consolidated results for the period and confirmed compliance with applicable accounting standards and regulations[129] - The company is committed to long-term financial performance rather than short-term gains, avoiding unnecessary risks[126] Market Outlook - The company maintains a cautiously optimistic outlook on the property market despite ongoing global economic challenges, including inflation and geopolitical tensions[105] - The residential property market showed signs of improvement after the US interest rate cut in September, with developers accelerating the launch of new projects[57] - The overall rental prices for office spaces decreased during the period, with significant declines in transaction volumes compared to the previous year[58]

Financial Performance - Revenue for the six months ended December 31, 2024, was HKD 24,002,000, an increase of 29.4% compared to HKD 18,558,000 for the same period in 2023[4]. - The net loss for the period was HKD 53,144,000, a significant improvement from a net loss of HKD 116,515,000 in the previous year, representing a 54.4% reduction in losses[4][5]. - The total comprehensive income for the period was HKD (119,851,000), which includes a loss attributable to owners of HKD (116,498,000)[10]. - The group reported a loss attributable to shareholders of HKD 53,088,000 for the six months ended December 31, 2024, an improvement from a loss of HKD 116,463,000 in the same period of 2023[38]. - The group's loss before tax was approximately HKD 53,144,000, a decrease of about 54.4% from a loss of HKD 116,515,000 in the same period last fiscal year, mainly due to fair value losses on investment properties and impairment of properties, plants, and equipment[61]. Cash Flow and Assets - Cash generated from operating activities was HKD 6,748,000, up from HKD 1,973,000 in the same period last year[8]. - Cash and cash equivalents at the end of the period increased to HKD 213,693,000, compared to HKD 30,996,000 at the end of the previous year[8]. - Total assets decreased to HKD 1,341,406,000 from HKD 1,391,631,000 as of June 30, 2024[7]. - The company's equity attributable to owners decreased to HKD 1,334,537,000 from HKD 1,386,554,000[7]. - As of December 31, 2024, the group's net current assets were approximately HKD 145,771,000, up from HKD 120,600,000 as of June 30, 2024, with cash and bank balances of approximately HKD 213,693,000[63]. Investment Properties - The fair value loss on investment properties was HKD 51,809,000, an improvement from HKD 70,639,000 in the previous year[4]. - The group recorded a fair value loss of approximately HKD 51,809,000 on investment properties, compared to a loss of HKD 70,839,000 for the six months ended December 31, 2023[82]. - The fair value loss for the investment property at 9 Queen's Road Central was approximately HKD 24,300,000 as of December 31, 2024, down from HKD 42,000,000 for the six months ended December 31, 2023[83]. - The retail property at 419K Queen's Road West recorded a fair value loss of approximately HKD 13,800,000 as of December 31, 2024, compared to a fair value gain of HKD 4,300,000 for the six months ended December 31, 2023[85]. Revenue Breakdown - Revenue from property sales amounted to HKD 8,012,000, significantly up from HKD 2,472,000, reflecting a growth of 223.5%[32]. - The revenue from external customers in the UK increased significantly to HKD 10,281,000 in 2024 from HKD 4,736,000 in 2023, showing a growth of approximately 117.5%[28]. - The revenue from external customers in Hong Kong for the six months ending December 31, 2024, was HKD 13,003,000, slightly down from HKD 13,031,000 in 2023[28]. Employee Costs - Employee costs increased to HKD 8,495,000 from HKD 8,064,000 year-on-year[4]. - Short-term employee benefits for key management personnel were HKD 4,504,000 for the six months ended December 31, 2024, slightly up from HKD 4,427,000 in the same period of 2023[49]. - The group employed 16 employees as of December 31, 2024, with total employee costs approximately HKD 8,458,000 for the period[79]. Market Conditions - The non-residential property market remained weak, with prices and rents continuing to soften during the second quarter of 2025[60]. - The residential property market showed signs of improvement following interest rate cuts in the U.S., with developers accelerating the launch of new projects[59]. - Overall unit prices in the residential market experienced a slight decline, while transaction volumes significantly increased during the reporting period[59]. Financial Policies and Governance - The company adheres to high standards of corporate governance, focusing on long-term financial performance rather than short-term gains[113]. - The company has established an audit committee to review and supervise financial reporting procedures, risk management, and internal control systems, consisting of three independent non-executive directors[116]. - The company has established credit policies and procedures to mitigate credit or investment risks, including requiring guarantees and conducting regular reviews of borrowers[105]. Future Outlook - The company remains optimistic about the long-term prospects of the property markets in Hong Kong, the UK, and Japan, viewing these investments as excellent opportunities for long-term appreciation[95]. - The company anticipates continued economic recovery in Hong Kong and globally, despite challenges from inflation and geopolitical tensions[107]. - The company maintains a cautious optimism towards the property market and plans to continue prudent acquisition and disposal of properties[107].

Financial Performance - The group recorded a revenue of approximately HKD 41,118,000 for the fiscal year, an increase of about 8.1% compared to HKD 38,029,000 in the previous fiscal year[6]. - The group reported a loss before tax of approximately HKD 241,945,000, which is an increase of about 248.9% from the previous year's loss of HKD 69,352,000[6]. - The group recorded a revenue of approximately HKD 41,118,000, an increase of about 8.1% compared to the previous fiscal year's HKD 38,029,000[11]. - The group reported a pre-tax loss of approximately HKD 241,945,000, an increase of about 248.9% from the previous year's loss of HKD 69,352,000, primarily due to fair value losses on investment properties[11]. - The total assets as of June 30, 2024, were HKD 1,717,068,000, down from HKD 1,839,235,000 in the previous year, reflecting a decrease of approximately 6.6%[126]. - The net asset value decreased to HKD 1,385,915,000 from HKD 1,616,943,000, a decline of about 14.3% year-over-year[126]. - The company did not recommend a final dividend for the year, consistent with the previous year[123]. - Revenue from the top five customers accounted for approximately 36.2% of total revenue, down from 41.1% in the previous year, indicating a diversification in customer base[129]. - The largest customer contributed approximately 10.8% of total revenue, a slight decrease from 11.0% in the previous year[129]. - The company's distributable reserves were approximately HKD 1,323,835,000, down from HKD 1,448,885,000 in the previous year[132]. - The group made charitable contributions of approximately HKD 1,374,000 during the year, a decrease from HKD 1,755,000 in the previous year[125]. Property Market Outlook - The group plans to adopt a cautious approach to property acquisitions and sales while exploring potential investment properties and development projects to increase recurring income and capital appreciation[7]. - The group remains cautiously optimistic about the property market despite ongoing global economic challenges, including inflation and geopolitical tensions[7]. - The demand management measures in the residential property market were lifted, leading to increased activity, although the market has since quieted down[5]. - The commercial property market remains weak, with office space prices and rents continuing to decline[5]. - The group acknowledges the ongoing challenges posed by rising inflation and geopolitical risks, which may impact global economic recovery[7]. - The group maintains a positive long-term outlook for the commercial, industrial, and residential property markets in Hong Kong, the UK, and Japan, anticipating significant property price appreciation[22]. - The group is optimistic about the recovery of inbound tourism in Japan, particularly in the Niseko ski resort area, viewing it as a good long-term investment opportunity[22]. Investment Properties - The group experienced a fair value loss on investment properties of approximately HKD 163,552,000, compared to a fair value loss of HKD 11,407,000 in the previous year[13]. - The investment property at Atlantic House, Cardiff, has a total floor area of approximately 41,000 square feet, with 30% of the leased area rented out as of June 30, 2024[15]. - The investment property at 19 Hong Kong Kowloon Bay has a total floor area of approximately 16,500 square feet, with all units leased out during the year[15]. - The fair value loss for the investment property at Atlantic House is approximately HKD 21,700,000 as of June 30, 2024, compared to HKD 7,700,000 in 2023[15]. - The office unit at 121 Des Voeux Road Central has a total floor area of approximately 7,300 square feet, with a monthly rent of HKD 233,000, which will adjust to HKD 224,000 starting September 21, 2024[18]. - The retail shops at Tai Kok Tsui have been acquired for short-term trading purposes, with a confirmed impairment of HKD 24,180,000 due to a decline in retail prices and rents[20]. - The office unit at 2-12 Queen's Road West has a total floor area of approximately 1,650 square feet, leased to a translation company at a monthly rent of HKD 42,000[17]. - The three office units at 3 Arbuthnot Road have a total floor area of approximately 4,100 square feet and are currently seeking new tenants[16]. Securities and Loan Financing - The group aims to expand its securities investment and trading business as well as its loan financing operations to achieve stable recurring income growth[7]. - The investment portfolio in the securities trading segment reported a fair value gain of approximately HKD 1,123,000, a significant recovery from a loss of HKD 55,428,000 in 2023[23]. - The group incurred a segment loss of approximately HKD 10,345,000, improving from a loss of HKD 59,377,000 in the previous year[23]. - Interest income from the loan financing business was approximately HKD 5,000,000, representing 12.2% of total income, up from 9.3% in 2023[25]. - The group recognized a loan loss provision of HKD 7,681,000 for the loan financing business, compared to HKD 2,248,000 in 2023[29]. - The carrying value of loans receivable in the loan financing business was approximately HKD 37,185,000, an increase from HKD 36,573,000 in 2023[26]. - The group’s largest borrower accounted for approximately 47% of the total loans receivable as of June 30, 2024, down from 56% in 2023[26]. Corporate Governance - The company has adopted the corporate governance code as per the Stock Exchange Listing Rules and has complied with all governance codes during the year[57]. - The roles of Chairman and CEO are clearly separated, with Mr. Pang Wei Xin serving as Chairman and Mr. Li Yong Xian as CEO[58]. - The board of directors is responsible for formulating corporate policies, business strategies, and risk management, ensuring effective execution of strategies and compliance with regulations[60]. - The company has appointed Mr. Liu Ji Ming as an independent non-executive director on September 27, 2023[54]. - The board includes experienced members with backgrounds in finance, law, and corporate governance, ensuring effective oversight and management[60]. - The company has a sustainable development committee chaired by Mr. Li Yong Xian, focusing on long-term strategic development[56]. - The company has maintained a strict code of conduct for securities trading among directors, with no violations reported during the year[59]. - The company has a diverse board composition, including independent non-executive directors with extensive experience in various sectors[60]. - The company is committed to internal control systems and risk management procedures to safeguard its operations and financial integrity[60]. - The company has a strong emphasis on corporate governance, ensuring transparency and accountability in its operations[57]. - The company appointed three independent non-executive directors, each with sufficient experience to safeguard shareholder interests[61]. Risk Management and Internal Controls - The risk management framework includes policies and procedures for identifying, assessing, managing, and reporting risks, covering strategic, operational, market, reporting, and compliance risks[91]. - The internal control system is designed to safeguard the group's assets and ensure compliance with applicable laws and regulations[92]. - The board is responsible for maintaining effective risk management and internal control systems, with evaluations conducted semi-annually[91]. - The board has reviewed the effectiveness of the internal control system and found no significant issues, but identified areas for improvement[93]. - The company believes that its risk management and internal control processes are sufficient for its current business environment[93]. Sustainability and Corporate Social Responsibility - The company emphasizes the importance of environmental, social, and governance (ESG) matters and has implemented measures to promote sustainable practices[172]. - The company’s environmental, social, and governance report outlines efforts in energy saving, waste management, community engagement, and human rights[172]. - The company has established a comprehensive sustainability strategy focusing on four core areas: environment, employees, supply chain, and community[176]. - The sustainability strategy is guided by seven relevant Sustainable Development Goals identified by the company, aligning with global calls from United Nations member states[176]. - The company aims to continuously improve environmental performance by adopting eco-friendly equipment and technologies, optimizing resource efficiency, and addressing climate change[178]. - The company has implemented a risk management framework that incorporates environmental, social, and governance risks into its operations[180]. - The company recognizes the potential impacts of climate change, including operational disruptions due to extreme weather, and has developed adaptation plans to address these risks[180]. - The company emphasizes stakeholder engagement as an essential part of its sustainability strategy, regularly communicating with investors, shareholders, and employees to gather feedback[182]. - The company has updated its environmental policies to comply with the latest standards and regulations, mitigating risks associated with environmental compliance[180]. - The company is committed to fostering a people-centric work environment by promoting diversity and prioritizing health and safety for its employees[178]. - The company has established a comprehensive anti-corruption management system to maintain high ethical standards and integrity in its operations[192]. - The company has a zero-tolerance policy towards all forms of discrimination, child labor, and forced labor[190]. Shareholder Communication and Rights - The company encourages shareholders to attend annual general meetings and will provide at least 21 days' notice for such meetings[98]. - Shareholders have the right to request the board to convene a special general meeting if they hold at least 10% of the paid-up capital[98]. - The company has updated its shareholder communication policy to ensure timely and reliable information is provided to shareholders[100]. - The company's website contains a dedicated page for the latest information related to the group and its business[101]. - The board of directors encourages shareholder participation in the annual general meeting, ensuring the presence of committee chairs to address questions[102]. - The company must send notifications for the annual general meeting at least 21 days in advance and for other meetings at least 14 days in advance[103]. - The company is required to provide the annual report, including financial statements and auditor's report, to shareholders at least 21 days before the annual general meeting[105]. Share Options and Ownership - The company has implemented both old and new share option plans, with options granted on May 17, 2016, November 26, 2018, and July 14, 2023[139]. - The old share option plan has a total of 13,148,000 options granted, with 10,788,000 options remaining unexercised as of June 30, 2024[144]. - The new share option plan was adopted on November 26, 2021, allowing the company to grant options to selected individuals as a reward for their contributions[145]. - The new share option plan complies with the listing rules under Chapter 17[146]. - The exercise price for options under the new plan will be determined by the board and communicated to participants[146]. - The total number of options exercised during the year was 2,360,000[144]. - The total number of shares available for issuance under the new share option plan is 56,081,256 shares, representing approximately 9.89% of the issued shares[150]. - The company aims to expand its market presence through the new share option plan, incentivizing contributions from selected individuals[146]. Employee and Director Compensation - The total employee cost for the year was approximately HKD 17,079,000, a decrease from HKD 17,977,000 in the previous year[46]. - Executive director Mr. Pang receives a monthly salary of HKD 586,000, with discretionary bonuses determined by the board[61]. - Executive director Mr. Li receives a monthly salary of HKD 117,200, also with discretionary bonuses[62]. - The remuneration committee held three meetings to review the compensation packages for all directors and senior management[68]. - The company has established principles for the remuneration of executive directors, which include annual reviews and adjustments based on performance and market trends[70]. Audit and Compliance - The auditor's fee for the year was approximately HKD 680,000 for statutory audits and HKD 220,000 for non-audit services[85]. - The audit committee held four meetings during the year to review financial reports and audit plans[85]. - The company has appointed Hong Kong Li Xin De Hao Accounting Firm Limited as its external auditor, which has expressed willingness to continue its service[85]. - The audit committee is responsible for monitoring and reviewing the effectiveness of the company's financial controls and risk management systems[85]. - The audit committee met with the company's auditors twice during the year, with all members attending 100% of the meetings[87].

Financial Performance - The company's revenue for the year ended June 30, 2024, was HKD 41,118,000, an increase of 8.3% compared to HKD 38,029,000 for the previous year[2]. - The net loss for the year was HKD 242,161,000, significantly higher than the loss of HKD 67,499,000 in the previous year, representing a 258.5% increase in losses[3]. - The total comprehensive income for the year was HKD (231,107,000), compared to HKD (70,511,000) in the previous year, indicating a substantial decline in overall financial performance[3]. - The company reported a total comprehensive income of HKD (231,107,000) for the year, compared to HKD (70,511,000) in the previous year, indicating a significant increase in losses[7]. - The group reported a pre-tax loss of approximately HKD 241,945,000, an increase of about 248.9% from the previous fiscal year's loss of HKD 69,352,000[38]. - The basic and diluted loss per share for 2024 is HKD (241,948,000), compared to HKD (67,611,000) in 2023, reflecting a substantial increase in losses[30]. Assets and Liabilities - The company's non-current assets amounted to HKD 1,271,031,000, down from HKD 1,476,192,000 in the previous year, reflecting a decrease of 13.9%[4]. - Current liabilities increased to HKD 325,437,000 from HKD 214,727,000, marking a rise of 51.6%[5]. - The total assets less current liabilities decreased to HKD 1,391,361,000 from HKD 1,624,508,000, a decline of 14.3%[4]. - As of June 30, 2024, total equity attributable to the owners of the company is HKD 1,385,915,000, a decrease from HKD 1,616,943,000 as of June 30, 2023, representing a decline of approximately 14.3%[6]. - Total assets decreased to HKD 1,717,068,000 in 2024 from HKD 1,839,235,000 in 2023, a decline of 6.6%[21]. - Total liabilities increased to HKD 331,153,000 in 2024 from HKD 222,292,000 in 2023, representing a rise of 48.9%[21]. Cash Flow and Financial Position - The company's cash and bank balances improved to HKD 230,143,000, up from HKD 144,332,000, representing a growth of 59.5%[4]. - As of June 30, 2024, the group's net current assets amounted to approximately HKD 120,600,000, a decrease from HKD 148,316,000 in 2023[57]. - Cash and bank balances as of June 30, 2024, were approximately HKD 230,143,000, compared to HKD 144,332,000 in 2023[57]. - The capital debt ratio increased to approximately 17% as of June 30, 2024, up from 10% in 2023, primarily due to increased borrowing[57]. - As of June 30, 2024, the group had secured bank borrowings of approximately HKD 292,593,000, an increase from HKD 184,250,000 in 2023[57]. Revenue and Income Sources - The group reported a consolidated revenue of HKD 12,551,000 for the year ending June 30, 2023[9]. - The group reported total revenue from external customers of HKD 38,029,000 for the year, with contributions from various segments including property development and securities investment[19]. - Bank interest income for the year amounted to HKD 10,138,000, showing a notable contribution from the financing business[20]. - Bank interest income rose to HKD 12,614,000 in 2024 from HKD 10,138,000 in 2023, marking a growth of 24.4%[21]. - The company recorded total rental income of approximately HKD 23,586,000 for the year, compared to HKD 23,679,000 in the previous year, indicating a slight decrease[50]. Employee Costs and Expenses - The company reported a significant increase in employee costs, which fell to HKD (2,945,000) from HKD (17,977,000), a reduction of 83.7%[2]. - The total employee cost for the year is approximately HKD 17,079,000, a decrease from HKD 17,977,000 in the previous year, reflecting a reduction in the number of employees from 16 to 14[69]. - Administrative and other operating expenses amounted to HKD 34,350,000[9]. Investment and Property Performance - The fair value loss on investment properties was recorded at HKD (11,407,000), indicating challenges in the property investment sector[20]. - The group experienced a fair value loss of approximately HKD 163,552,000 on investment properties, compared to a loss of HKD 11,407,000 in the previous year[41]. - The investment property at Queen's Road Central 9 has a total floor area of approximately 13,700 square feet, with a fair value loss of approximately HKD 117.9 million as of June 30, 2024, compared to a fair value gain of HKD 4.4 million in 2023[42]. - The property at Queen's Road West 419K has a total floor area of approximately 10,300 square feet, generating stable income with a fair value loss of approximately HKD 21.7 million as of June 30, 2024, compared to HKD 7.7 million in 2023[43]. - The company confirmed a write-down of HKD 24,180,000 related to retail properties due to significant declines in personal consumption and inbound tourism[48]. Corporate Governance and Compliance - The company adheres to all corporate governance codes as per the listing rules[73]. - The remuneration committee held three meetings during the year to review the remuneration packages of all directors and senior management[76]. - The nomination committee is responsible for nominating director candidates and ensuring transparency in the nomination process[77]. - The audit committee held four meetings this year, reviewing the audited consolidated financial statements for the year ending June 30, 2023[81]. - The company emphasizes the importance of independent non-executive directors in its governance structure[80]. Future Outlook and Strategic Plans - The company anticipates ongoing challenges due to high inflation, geopolitical tensions, and sustained high interest rates affecting global economic recovery[56]. - The company maintains a cautiously optimistic outlook for the local economy post-pandemic, leveraging its competitive advantages in the Greater Bay Area[56]. - The company plans to continue its prudent approach to acquiring and selling properties while exploring potential investment opportunities for stable income growth[56]. - The company has a positive outlook on the long-term prospects of the commercial, industrial, and residential property markets in Hong Kong, the UK, and Japan[50]. Miscellaneous - The company has not reported any significant changes in its business operations during the year[8]. - The company does not recommend the payment of dividends for the years ending June 30, 2024, and June 30, 2023[28]. - The company will not declare a final dividend for the year, consistent with the previous year[71].

Financial Performance - Revenue for the six months ended December 31, 2023, was HKD 18,558,000, an increase of 6.86% compared to HKD 17,368,000 for the same period in 2022[5]. - Gross profit for the same period was HKD 13,758,000, up 35.56% from HKD 10,160,000 year-on-year[5]. - The company reported a loss before tax of HKD 116,515,000, significantly higher than the loss of HKD 20,459,000 in the previous year, indicating a deterioration in financial performance[5]. - Total comprehensive loss for the period was HKD 119,903,000, compared to a loss of HKD 22,681,000 in the prior year, reflecting increased financial challenges[6]. - Basic and diluted loss per share for the period was HKD 0.2054, compared to HKD 0.0364 in the previous year, indicating a significant increase in losses per share[5]. - The company reported a total comprehensive loss of HKD 22,669,000 for the six months ended December 31, 2023, compared to a loss of HKD 20,651,000 in the same period of 2022[13]. - The company reported a loss attributable to owners of the company of HKD 116,463,000 for the six months ended December 31, 2023, compared to a loss of HKD 20,639,000 in the same period last year[37]. Asset and Equity Changes - Non-current assets decreased to HKD 1,360,040,000 from HKD 1,473,126,000 as of June 30, 2023, indicating a decline in asset value[8]. - Current assets also decreased to HKD 347,398,000 from HKD 366,109,000, showing a reduction in liquidity[10]. - The company’s net asset value was HKD 1,497,119,000, down from HKD 1,616,943,000, reflecting a decrease in shareholder equity[10]. - The company's total equity attributable to owners decreased to HKD 1,665,323,000 from HKD 1,686,125,000, reflecting a reduction in shareholder value[13]. - The retained earnings decreased to HKD 39,341,000 as of December 31, 2023, down from HKD 59,980,000 at the beginning of the period, indicating a decline in accumulated profits[14]. Cash Flow and Financing - For the six months ended December 31, 2023, the net cash generated from operating activities was HKD 1,973,000, compared to a net cash used of HKD 2,200,000 in the same period of 2022, indicating a turnaround in operational cash flow[11]. - The net cash used in investing activities significantly increased to HKD 36,203,000 from HKD 3,149,000 year-over-year, reflecting a substantial rise in investment expenditures[11]. - The net cash used in financing activities was HKD 11,823,000, a decrease from the net cash generated of HKD 20,620,000 in the previous year, suggesting a shift in financing strategy[11]. - The total cash and cash equivalents decreased by HKD 46,053,000, resulting in an ending balance of HKD 30,996,000, down from HKD 93,098,000 at the end of the previous year[11]. - The company reported a financing cost of HKD 4,268,000, which increased from HKD 2,858,000 in the previous year, suggesting higher borrowing costs[5]. Market and Operational Insights - The company continues to focus on property investment and development, with no significant changes in its business operations during the reporting period[16]. - The residential property market in Hong Kong became more sluggish, with unit sale prices declining and transaction volumes significantly decreasing during the second quarter of 2024[56]. - The non-residential property market remained quiet, with all major market segments experiencing low trading activity and only slight changes in rental rates[56]. - The overall unit rental rates increased during the period, while overall unit sale prices continued to decline[56]. - The group is involved in a property development project in Birmingham, UK, with 29% of units sold and 57% rented to independent third parties as of December 31, 2023[82]. Investment and Financial Strategy - The group aims to seek potential property development opportunities both locally and overseas to enhance shareholder value[82]. - The group has adopted a prudent financial policy to manage liquidity risk and credit risk effectively[78]. - The group has arranged foreign exchange bank financing to hedge against currency risks related to property acquisitions[77]. - The company is focused on expanding its securities investment and trading business, as well as its loan financing operations, to achieve stable recurring income growth[110]. Corporate Governance and Shareholder Information - The company maintains high standards of corporate governance, focusing on long-term financial performance rather than short-term gains[127]. - The company has adopted a code of conduct for securities trading by directors, ensuring compliance with the standards set out in the listing rules[126]. - The company has a total of 334,641,966 shares beneficially owned by Mr. Pang through Virtue Partner Group Limited[123]. - The major shareholder, Dong Jingyi, holds 390,407,566 shares, representing approximately 68.87% of the total issued shares[121]. - The company has not purchased, redeemed, or sold any of its listed shares during the six months ending December 31, 2023[125].

Financial Performance - Revenue for the six months ended December 31, 2023, was HKD 18,558,000, an increase of 6.86% compared to HKD 17,368,000 for the same period in 2022[4] - Gross profit for the same period was HKD 13,758,000, up 35.56% from HKD 10,160,000 year-on-year[4] - The company reported a loss before tax of HKD 116,515,000, significantly higher than the loss of HKD 20,459,000 in the previous year, representing a 470.73% increase in losses[4] - Total comprehensive loss for the period was HKD 119,903,000, compared to a loss of HKD 22,681,000 in the same period last year, indicating a 429.36% increase in total losses[6] - The company reported a loss of HKD 116,463,000 for the period, compared to a loss of HKD 20,639,000 in the previous period, indicating a significant increase in losses[13] - Total comprehensive income for the period amounted to a loss of HKD 119,851,000, compared to a loss of HKD 22,669,000 in the prior period, representing an increase in comprehensive losses by approximately 429%[13] Cash Flow and Assets - Cash and cash equivalents at the end of the period were HKD 30,996,000, down from HKD 93,098,000 at the end of the previous year, reflecting a decrease of 66.73%[9] - Non-current assets decreased to HKD 1,360,040,000 from HKD 1,473,126,000, a decline of 7.66%[8] - The company’s net asset value decreased to HKD 1,497,119,000 from HKD 1,616,943,000, representing a decline of 7.39%[8] - The company reported a net cash outflow from financing activities of HKD 36,203,000, compared to an outflow of HKD 3,149,000 in the previous year[9] - The total reportable segment assets as of December 31, 2023, were HKD 1,321,529,000, a decrease from HKD 1,524,779,000 as of December 31, 2022[27] Shareholder Information - The basic and diluted loss per share for the period was HKD 20.54 cents, compared to HKD 3.64 cents in the previous year, indicating a significant increase in loss per share[4] - As of December 31, 2023, the total equity attributable to the company's owners decreased to HKD 1,497,597,000 from HKD 1,617,369,000 as of July 1, 2023, reflecting a decline of approximately 7.4%[13] - The group did not recommend an interim dividend for the six months ended December 31, 2023, consistent with the previous year[38] Segment Performance - The reported segment revenue for the six months ended December 31, 2023, was HKD 18,558,000, an increase from HKD 17,368,000 in the same period of 2022, representing a growth of approximately 6.9%[29] - The reported segment loss for the six months ended December 31, 2023, was HKD (108,821,000), compared to a loss of HKD (12,977,000) in the same period of 2022, indicating a significant increase in losses[29] - The investment property rental income for the six months ended December 31, 2023, was HKD 10,672,000, slightly down from HKD 10,796,000 in the same period of 2022[33] Financial Liabilities and Costs - The company incurred financing costs of HKD 4,268,000, which is an increase of 49.38% from HKD 2,858,000 in the previous year[4] - The group had secured bank borrowings of approximately HKD 172,593,000 as of December 31, 2023, down from HKD 184,250,000 as of June 30, 2023[68] - The group recorded a net foreign exchange loss of HKD 562,000 for the six months ended December 31, 2023, compared to a gain of HKD 270,000 in the same period of 2022[35] Investment Activities - The company is involved in property investment and development projects in the UK, as well as holding ten commercial and residential properties in Hong Kong, the UK, and Japan[64] - The company acquired two serviced apartments in Hokkaido, Japan, benefiting from long-term growth in inbound tourism[103] - The company has arranged foreign exchange bank financing in GBP, EUR, JPY, and AUD to hedge against foreign exchange risks related to property acquisitions[84] Market Conditions - The overall unit rental prices increased during the period, despite a decline in transaction volumes and unit sale prices in the residential property market[64] - The non-residential property market remained quiet, with only slight changes in overall rental prices and a significant decrease in transaction activities[65] - The retail sector remains weak, with a confirmed impairment loss of approximately HKD 21,743,000 due to declining prices and rents[101] Compliance and Governance - The financial statements were prepared in accordance with Hong Kong Financial Reporting Standards, ensuring compliance with local regulations[17] - The audit committee has reviewed the unaudited consolidated results for the period and confirmed compliance with applicable accounting standards and regulations[120]

Financial Performance - The group recorded a revenue of approximately HKD 38,029,000 for the fiscal year, an increase of about 14.0% compared to HKD 33,353,000 in the previous fiscal year[7]. - The group's loss before tax was approximately HKD 69,352,000, a decrease of about 51.7% from HKD 143,517,000 in the previous fiscal year[7]. - The company’s revenue for the fiscal year ending June 30, 2023, was HKD 38,029,000, an increase from HKD 33,353,000 in the previous year, representing a growth of approximately 14.8%[162]. - The company reported a loss before tax of HKD (69,352,000) for the fiscal year, an improvement from a loss of HKD (143,517,000) in the previous year[162]. - Total assets as of June 30, 2023, were HKD 1,839,235,000, a decrease from HKD 1,959,069,000 in the previous year, reflecting a decline of about 6.1%[163]. - The company's net asset value decreased to HKD 1,616,943,000 from HKD 1,685,587,000, indicating a reduction of approximately 4.1%[163]. - The company did not recommend a final dividend for the year, consistent with the previous year where no dividend was declared[158]. - The company’s reserves available for distribution to shareholders were approximately HKD 1,448,885,000, down from HKD 1,574,495,000 in the previous year, a decrease of about 8.0%[169]. - Total liabilities decreased to HKD (222,292,000) from HKD (273,482,000), reflecting a reduction of approximately 18.7%[163]. Property Market Insights - The local GDP grew by 1.5% year-on-year during the fiscal year, indicating a continued recovery in the Hong Kong economy[11]. - The total number of residential property sale agreements received by the Land Registry decreased by 18% compared to last year[12]. - Overall unit prices in the residential property market fell by 1% in the last quarter, while overall unit rents increased by 3%[12]. - The average rental yield for residential properties rose to 2.5% by June[12]. - The total supply of private units is expected to remain high at an estimated 105,000 units as of June 2023, reflecting the government's efforts to increase land and housing supply[12]. - The group holds a cautious optimistic view on the property market despite the uncertain global economic outlook[8]. - The group remains optimistic about the long-term prospects of commercial, industrial, and residential property markets in Hong Kong, the UK, and Japan[31]. Investment Strategies - The group plans to adopt a prudent approach to property acquisitions and sales, while continuously exploring potential investment properties and development projects to increase recurring income[8]. - The group aims to expand its securities investment and trading business as well as its loan financing business to achieve stable recurring income growth[8]. - The group aims to continue exploring potential property development opportunities both in Hong Kong and overseas to enhance shareholder value[17]. - The group expects the property investment segment to provide substantial and stable income sources in the long term[31]. - The group has implemented credit policies and procedures to mitigate credit and investment risks, including due diligence and collateral requirements[38]. Securities and Loan Financing - The securities investment and trading segment reported a net fair value loss of approximately HKD 55,428,000, compared to HKD 46,542,000 in the previous year[34]. - Interest income from the securities investment segment was approximately HKD 4,230,000, down from HKD 10,771,000 in the previous year[34]. - The loan financing segment recorded interest income of approximately HKD 3,526,000, representing 9.3% of total income, an increase from 2.2% in the previous year[36]. - The group’s receivables from loan financing increased to approximately HKD 33,507,000, up from HKD 6,565,000 in the previous year[36]. - The group’s fixed-rate loans have interest rates ranging from 3.33% to 20%[36]. Corporate Governance - The company has adopted the corporate governance code as per the Stock Exchange Listing Rules, ensuring compliance throughout the year[69]. - The roles of Chairman and CEO are clearly separated, with Mr. Pang Wei Xin serving as Chairman and Mr. Li Yong Xian as CEO[70]. - The company has maintained strict adherence to the code of conduct regarding securities trading by directors, with no violations reported during the year[71]. - The company has a diverse board with independent non-executive directors, enhancing its governance structure[63][64][66][67]. - The company is committed to sustainable development, with various committees in place to oversee these initiatives[63][67]. - The company has established appropriate insurance coverage for directors against liabilities arising from corporate activities[83]. Risk Management - The board is responsible for maintaining effective risk management and internal control systems to ensure the achievement of strategic objectives[120]. - The internal control system is designed to protect the group's assets from unauthorized use and ensure compliance with applicable laws and regulations[121]. - The board has reviewed the effectiveness of the internal control system and found no significant issues, although areas for improvement have been identified[122]. - The company is committed to ensuring compliance with legal and regulatory requirements related to corporate governance[119]. Shareholder Communication - The company aims to provide high levels of disclosure and financial transparency to its shareholders and investors[129]. - The board will ensure the presence of external auditors at the annual general meeting to address questions related to auditing practices and independence[129]. - The company aims to promote effective communication with shareholders through its updated shareholder communication policy, ensuring timely and reliable information is provided[131]. - The board of directors is responsible for maintaining ongoing dialogue with shareholders, particularly during annual general meetings[134]. Employee and Director Compensation - The total employee cost for the year was approximately HKD 17,977,000, a decrease from HKD 18,663,000 in the previous year[58]. - Executive director Mr. Pang has a service agreement with a monthly remuneration of HKD 570,000, plus discretionary bonuses[74]. - Executive director Mr. Lee has a service agreement with a monthly remuneration of HKD 114,000, plus discretionary bonuses[75]. - The remuneration committee held two meetings to review the compensation packages of all directors and senior management[86]. Shareholder Structure - As of June 30, 2023, the total number of shares held by director Pang Wei Xin is 54,429,600, representing approximately 9.60% of the total issued shares[177]. - Pang Wei Xin's controlled corporation, Virtue Partner Group Limited, holds 334,641,966 shares, accounting for approximately 59.03% of the total issued shares[177]. - Major shareholder Dong Jing Yi holds a total of 389,071,566 shares, which is approximately 68.63% of the total issued shares[183]. - The total number of shares held by director Li Yong Xian is 4,318,000, representing approximately 0.76% of the total issued shares[177].