香港交易及結算所有限公司及香港聯合交易所有限公司（「聯交所」）對本公佈 的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示概不就 因本公佈全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承 擔任何責任。 （於開曼群島註冊成立的有限公司） 183 （股份代號： ） 截 至 二 零 二 三 年 六 月 三 十 日 止 年 度 的 末 期 業 績 公 佈 末期業績 宏輝集團控股有限公司（「本公司」）董事（「董事」）會（「董事會」）宣佈本公司及其 附屬公司（統稱「本集團」）截至二零二三年六月三十日止年度（「本年度」）的經審 核綜合業績，連同截至二零二二年六月三十日止年度的比較數字： ...

Financial Performance - Revenue for the six months ended December 31, 2022, was HKD 17,368,000, an increase of 3.52% compared to HKD 16,778,000 for the same period in 2021[4] - Gross profit decreased to HKD 10,160,000, down 11.35% from HKD 11,462,000 year-on-year[4] - The company reported a net loss of HKD 20,651,000, significantly improved from a loss of HKD 69,089,000 in the previous year, representing a reduction of 70.05%[5] - Other income increased to HKD 8,255,000, up 190.77% from HKD 2,840,000 in the same period last year[4] - Total comprehensive loss for the period was HKD 22,681,000, compared to HKD 71,964,000 in the previous year, marking a 68.5% improvement[5] - The basic and diluted loss per share for the period was HKD 3.64 cents, compared to HKD 12.64 cents in the previous year[4] - The company reported a fair value loss on investment properties of HKD 6,092,000, a significant decrease from HKD 57,830,000 in the previous year[4] - The group reported a pre-tax loss of HKD 20,639,000 for the six months ended December 31, 2022, compared to a loss of HKD 70,859,000 in the same period of 2021, indicating a significant improvement[38] Assets and Equity - Non-current assets totaled HKD 1,453,848,000 as of December 31, 2022, slightly down from HKD 1,455,650,000 at the end of June 2022[7] - Current assets amounted to HKD 491,449,000, a decrease from HKD 503,419,000 in the previous period[7] - The company's total equity was HKD 1,664,773,000, down from HKD 1,685,587,000 as of June 30, 2022[9] - The total equity attributable to owners of the company as of December 31, 2022, was HKD 1,770,505 thousand, a decrease from HKD 1,842,469 thousand at the end of 2021[12] - The total reportable segment assets as of December 31, 2022, were HKD 1,524,779,000, compared to HKD 1,654,654,000 as of December 31, 2021[26] Cash Flow - The net cash used in operating activities for the six months ended December 31, 2022, was HKD (2,200) thousand, an improvement from HKD (4,524) thousand in the same period of 2021[10] - Cash generated from investing activities was HKD 17,734 thousand, compared to cash used of HKD (14,797) thousand in the previous year, indicating a significant turnaround[10] - Cash generated from financing activities increased to HKD 20,620 thousand from HKD 1,878 thousand year-on-year, reflecting enhanced financing capabilities[10] - The total cash and cash equivalents at the end of the period rose to HKD 248,744 thousand, up from HKD 161,850 thousand at the end of the previous year[10] - The company's cash and bank balances increased to HKD 49,889 thousand from HKD 39,313 thousand year-on-year, indicating improved liquidity[10] - The company's short-term deposits rose to HKD 198,855 thousand from HKD 122,537 thousand, reflecting a stronger cash position[10] Segment Information - The company identified five reportable segments: Property Development, Property Investment and Trading, Renovation, Securities Investment and Trading, and Loan Financing[23] - Total reported segment revenue for the six months ended December 31, 2022, was HKD 17,368,000, an increase from HKD 16,778,000 in the same period of 2021[26] - The reported segment loss for the six months ended December 31, 2022, was HKD (12,977,000), significantly improved from a loss of HKD (57,563,000) in the prior year[28] Investments and Property - The group is involved in a property development project in the UK and owns nine commercial and residential properties in Hong Kong, the UK, and Japan for investment purposes[58] - The residential property market has softened, with a significant decrease in transaction activity and unit prices during the period[58] - The group recorded a fair value loss of approximately HKD 6,092,000 on investment properties during the period[80] - Rental income from the property investment and sale segment totaled approximately HKD 12,370,000 for the period[91] Corporate Governance and Management - The company maintains high standards of corporate governance, focusing on long-term financial performance rather than short-term gains[118] - The audit committee, consisting of three independent non-executive directors, reviewed the group's unaudited consolidated results and confirmed compliance with applicable accounting standards[121] - The chairman and executive director's salary was adjusted from HKD 550,000 to HKD 570,000 per month, effective January 1, 2023[114] - The CEO's salary increased from HKD 110,000 to HKD 114,000 per month, effective January 1, 2023[114] Future Outlook - The group anticipates that the local economy will gradually stabilize after the end of the pandemic, despite ongoing global economic challenges[100] - The group aims to expand its securities investment and trading business as well as its loan financing business to achieve stable recurring income growth[100] - The group plans to adopt a prudent approach to acquiring and selling properties to enhance recurring income and capital appreciation[100]

Financial Performance - The group's revenue for the fiscal year was approximately HKD 26,452,000, a decrease of about 1.1% compared to HKD 26,759,000 in the previous fiscal year[35]. - The group recorded a loss before tax of approximately HKD 143,517,000, compared to a profit before tax of approximately HKD 31,985,000 in the previous fiscal year[35]. - The decrease in revenue was primarily due to a reduction in the revenue from loan financing business[35]. - The group recorded a revenue of approximately HKD 26,452,000, a decrease of about 1.1% compared to the previous fiscal year's revenue of HKD 26,759,000[41]. - The group reported a loss before tax of approximately HKD 143,517,000, compared to a profit of HKD 31,985,000 in the previous fiscal year, primarily due to fair value losses on investment properties and financial instruments[41]. - The group experienced a fair value loss on investment properties of approximately HKD 110,502,000, compared to a fair value gain of HKD 55,133,000 in the previous year[44]. - The fair value loss of the investment portfolio for the year was approximately HKD 3,259,000, compared to HKD 358,000 in the previous year[55]. - The company’s total employee cost for the year was approximately HKD 18,663,000, a decrease from HKD 19,661,000 in the previous year[79]. - The company has committed but not provided for capital expenditures totaling HKD 78,257,000, down from HKD 81,525,000 in the previous year[75]. - The company’s minimum lease income from irrevocable operating leases for the next year is projected to be HKD 18,994,000, compared to HKD 23,377,000 in the previous year[72]. Property Market Outlook - The overall rental rates for properties remained stable, while the office space prices and rents further weakened[34]. - The group maintains a cautiously optimistic outlook on the property market despite ongoing global economic challenges[34]. - The local economy is expected to gradually stabilize after the end of the pandemic, leveraging the advantages of the Greater Bay Area[34]. - The group aims to expand its securities investment and trading business as well as loan financing business to achieve stable recurring income growth[35]. - The group aims to continue seeking potential property development opportunities both locally and overseas to enhance shareholder value[42]. - The company is optimistic about the long-term prospects of the commercial, industrial, and residential property markets in Hong Kong, the UK, and Japan despite the challenges posed by the COVID-19 pandemic[52]. Investment Properties - The group is involved in a property development project in Birmingham, UK, with a site area of 15,800 square feet, expected to yield approximately 12,000 square feet of residential space[42]. - The group owns twelve commercial and residential properties for investment and sale, primarily located in Hong Kong, along with a commercial property in Cardiff, UK, and two serviced apartments in Hokkaido, Japan[43]. - The group has designated a local agent for the sale and leasing of residential units in the UK property project, with three units rented to independent third parties as of June 30, 2022[42]. - The investment property at 419 Queen's Road West is expected to generate stable income through a three-year fixed lease with a church[48]. - The company anticipates that the acquisition of retail shops and advertising spaces in Tai Kok Tsui will yield significant appreciation potential due to ongoing redevelopment in the area[51]. Financial Position - As of June 30, 2022, the group's net current assets were approximately HKD 238,398,000, down from HKD 275,629,000 in the previous year[56]. - The capital-to-debt ratio remained stable at approximately 11% as of June 30, 2022, unchanged from the previous year[56]. - The total assets as of June 30, 2022, were HKD 1,959,069,000, while total liabilities were HKD (273,482,000)[154]. - The net asset value of the group was HKD 1,685,587,000 as of June 30, 2022, down from HKD 1,842,469,000 in the previous year[154]. - The company has pledged assets with a book value of approximately HKD 128,856,000 for bank borrowings as of June 30, 2022[70]. Corporate Governance - The company has adopted the corporate governance code as per the Stock Exchange's listing rules and has complied with all governance codes during the year[93]. - The roles of Chairman and CEO have been clearly separated, with Mr. Pang Wei Xin and Mr. Li Yong Xian fulfilling these positions respectively[94]. - The company has multiple independent non-executive directors with extensive experience in law, finance, and corporate governance[85][86][89][90]. - The company has a strong focus on compliance with the Stock Exchange's requirements, ensuring all directors are aware of their commitments[84]. - The company has established committees for remuneration and nominations, ensuring proper governance practices are followed[85]. Shareholder Information - The company did not recommend the payment of a final dividend for the fiscal year, consistent with the previous year[151]. - The company’s distributable reserves available for dividend payments were approximately HKD 1,575,071,000, compared to HKD 1,671,167,000 in the previous year[157]. - The controlled corporation's equity held by Pang Wei Xin was 334,641,966 shares, accounting for about 59.67% of the total shares[164]. - Major shareholder holdings include 董晶怡 with 392,351,566 shares, representing approximately 69.96% of the total issued shares[170]. - The company has issued stock options under the old and new stock option plans, with options granted on June 25, 2021, fully exercised and shares distributed on July 7, 2022[167]. Risk Management - The company has established a risk management framework to identify, assess, and manage risks, including operational and compliance risks[136]. - The internal control system is designed to provide reasonable assurance against material misstatements and to ensure compliance with applicable laws and regulations[136]. - The board confirms that the risk management and internal control processes are adequate and effective, with no significant issues raised[138]. Economic Challenges - The global economic outlook remains uncertain due to inflation, geopolitical risks, and ongoing pandemic impacts[34]. - The group anticipates ongoing economic challenges due to inflation and geopolitical risks, impacting short-term global economic activities[56].

Financial Performance - Revenue for the six months ended December 31, 2021, was HKD 15,181,000, a slight decrease of 0.84% compared to HKD 15,310,000 in the same period of 2020[9]. - Gross profit for the same period was HKD 9,865,000, down 4.22% from HKD 10,300,000 year-on-year[9]. - The net loss for the six months ended December 31, 2021, was HKD 69,089,000, significantly higher than the loss of HKD 16,140,000 in the previous year, representing an increase of 328.5%[11]. - The loss attributable to owners of the company was HKD 70,859,000, compared to HKD 15,004,000 in the same period last year[9]. - Total comprehensive loss for the period was HKD 71,964,000, compared to HKD 11,505,000 in the previous year, indicating a substantial increase in losses[11]. - The company reported a basic and diluted loss per share of HKD 12.64 cents, compared to HKD 2.69 cents in the previous year[9]. - The group reported a pre-tax loss of HKD 70,859,000 for the six months ended December 31, 2021, compared to a loss of HKD 15,004,000 in the same period of 2020[56]. Assets and Liabilities - Non-current assets as of December 31, 2021, totaled HKD 1,561,589,000, a decrease from HKD 1,584,051,000 as of June 30, 2021[13]. - Current assets included cash and bank balances of HKD 161,850,000, down from HKD 183,179,000 as of June 30, 2021[13]. - The company's total assets less current liabilities amounted to HKD 1,785,582,000, down from HKD 1,859,680,000[15]. - The equity attributable to owners of the company was HKD 1,772,063,000, a decrease from HKD 1,845,797,000 as of June 30, 2021[15]. - The total equity as of December 31, 2021, was HKD 1,772,063 thousand, compared to HKD 1,788,272 thousand at the end of the previous year, indicating a slight decrease in total equity[19]. Cash Flow - The net cash used in operating activities for the six months ended December 31, 2021, was HKD (4,524) thousand, compared to HKD 1,235 thousand in the same period of 2020, indicating a significant decline[17]. - The net cash used in investing activities decreased to HKD (14,797) thousand from HKD (36,353) thousand year-over-year, showing an improvement in investment cash flow[17]. - The net cash generated from financing activities was HKD 1,878 thousand, down from HKD 18,613 thousand in the previous year, reflecting a reduction in financing activities[17]. - The total cash and cash equivalents at the end of the period stood at HKD 161,850 thousand, a substantial increase from HKD 91,218 thousand at the end of the previous year[17]. - The cash and cash equivalents decreased by HKD 17,443 thousand during the period, compared to a decrease of HKD 16,505 thousand in the same period last year[17]. Segment Information - Reported segment revenue from external customers was HKD 15,181,000 for the six months ended December 31, 2021, a slight decrease from HKD 15,310,000 in the same period of 2020[39]. - The reported segment loss for the period was HKD (54,644,000), compared to a loss of HKD (33,269,000) in the previous year[43]. - Total assets for the reported segments amounted to HKD 1,232,990,000 as of December 31, 2021, compared to HKD 1,224,711,000 in the previous year[39]. Investment and Property Development - The group has 13 commercial and residential properties in Hong Kong, the UK, and Japan for investment purposes, and two commercial properties in Hong Kong for sale[86]. - The group participated in a property development project in the UK during the period[86]. - The group is involved in a property development project in Birmingham, UK, with a site area of 15,800 square feet, expected to be completed in Q1 2022[114]. - The group acquired two serviced apartments in Niseko, Hokkaido, Japan, which are expected to gradually recover rental income starting July 2021 after a drop in occupancy rates exceeding 90% due to COVID-19[127]. Corporate Governance and Management - The company has maintained a high level of corporate governance, adhering to all corporate governance codes during the reporting period[156]. - The Audit Committee, consisting of three independent non-executive directors, has reviewed the unaudited consolidated results for the period, ensuring compliance with applicable accounting standards[159]. - The monthly remuneration for the Chairman and Executive Director, Mr. Pang, has been adjusted from HKD 529,000 to HKD 550,000, effective from January 1, 2022[150]. - The monthly remuneration for the CEO and Company Secretary, Mr. Lee, has been adjusted from HKD 105,000 to HKD 110,000, effective from January 1, 2022[150]. Shareholder Information - The company has a total of 19,248,000 stock options outstanding as of December 31, 2021[138]. - The company’s major shareholder, Pang Weixin, holds 52,109,600 shares, representing approximately 9.29% of the total issued shares[142]. - Pang Weixin also controls 334,641,966 shares, which accounts for approximately 59.67% of the total issued shares[142]. - As of December 31, 2021, the total number of shares held by major shareholders includes 386,751,566 shares, representing approximately 68.96% of the company's issued shares[147].

Financial Performance - The group recorded a revenue of approximately HKD 26,759,000, a decrease of about 21% compared to the previous fiscal year's revenue of HKD 33,730,000[40]. - The group's profit before tax was approximately HKD 31,985,000, a significant recovery from a loss of approximately HKD 154,350,000 in the previous fiscal year, primarily due to fair value gains from investment properties[40]. - The group recorded a revenue of approximately HKD 26,759,000 for the year, a decrease of about 21% compared to HKD 33,730,000 in the previous fiscal year[46]. - The group's profit before tax for the year was approximately HKD 31,985,000, a significant recovery from a loss of approximately HKD 154,350,000 in the previous fiscal year[46]. - The net profit attributable to the company's owners for the fiscal year was HKD 36,139,000, recovering from a loss of HKD 153,375,000 in the previous year[159]. - Total assets as of June 30, 2021, were HKD 2,137,083,000, an increase of 3.5% from HKD 2,065,212,000 in the previous year[160]. - The group's net asset value stood at HKD 1,842,469,000, up from HKD 1,792,484,000 in the previous year, reflecting a growth of 2.8%[160]. - The total liabilities as of June 30, 2021, were HKD 294,614,000, an increase from HKD 272,728,000 in the previous year[160]. - The company reported a charitable donation of approximately HKD 1,146,000 for the year, down from HKD 1,571,000 in the previous year[159]. Property Market Outlook - The group is optimistic about the property market and plans to adopt a prudent approach to acquire and sell properties, aiming to increase recurring income and capital appreciation[41]. - The group anticipates that the local economy will gradually stabilize after the pandemic, leveraging its investment environment and opportunities in the Greater Bay Area[41]. - The group expects the total supply of new private residential units to reach a peak of 96,000 units over the next three to four years, reflecting government efforts to increase land and housing supply[44]. - The residential property market is thriving, supported by low interest rates and strong end-user demand, with stable price growth observed[39]. Investment Strategy - The group aims to expand its securities investment and trading business as well as its loan financing operations to achieve stable recurring income growth[41]. - The group anticipates stable and significant income sources from its property investment and trading business moving forward[58]. - The group aims to continue a prudent approach to property acquisitions and sales while exploring potential investment properties to increase recurring income[60]. - The group has acquired two retail shops and two advertising boards in a developing area, anticipating significant appreciation potential[56]. Corporate Governance - The company has adopted the corporate governance code as per the listing rules and has complied with all provisions during the year[93]. - The roles of Chairman and CEO are clearly separated, with Mr. Pang Wei Xin serving as Chairman and Mr. Li Yong Xian as CEO[94]. - The company has established a code of conduct for securities trading by directors, adhering to the standards set forth in the listing rules[95]. - The company has a diverse board with members having extensive experience in law, finance, and corporate governance[86][87][90]. - The company has maintained compliance with all corporate governance codes throughout the reporting period[93]. - The company’s management team includes professionals with backgrounds in law, finance, and public service, enhancing its governance structure[89][90]. - The company has established a remuneration committee consisting mainly of independent non-executive directors, as required by listing rules[118]. - The nomination committee consists of four members, including one executive director and three independent non-executive directors, with a plan to meet at least once a year[120]. Risk Management - The company has adopted a risk management framework that includes policies and procedures for identifying, assessing, managing, and reporting risks[142]. - The board believes that the current risk management and internal control systems are effective and sufficient, with ongoing reviews planned to adapt to changes in the operating environment[142]. - The audit committee continues to monitor risks related to strategy, operations, compliance, and financial reporting[142]. Employee and Director Compensation - The total employee cost for the year was approximately HKD 19,661,000, compared to HKD 12,405,000 in the previous year[80]. - Executive director Pang Wei Xin receives a monthly salary of HKD 529,000, plus discretionary bonuses based on market conditions and his role[98]. - Executive director Li Yong Xian receives a monthly salary of HKD 105,000, along with discretionary bonuses determined by the board[99]. - The remuneration committee held two meetings to review the compensation packages for all directors and senior management[116]. Shareholder Information - The company has a total of 386,751,566 shares held by major shareholder Dong Jingyi, representing approximately 68.96% of the total issued shares[181]. - Pang Weixin holds 334,641,966 shares through Virtue Partner Group Limited, accounting for about 59.67% of the total issued shares[181]. - The company has issued stock options totaling 14,630,000 shares, which are part of the stock option plan established on June 25, 2021[176]. - The stock option plan allows for the issuance of shares not exceeding 10% of the total issued shares as of the adoption date[181]. - The stock option plan aims to reward selected individuals for their contributions to the company and its subsidiaries[182]. Financial Reporting and Compliance - The company confirmed that its financial statements were prepared in accordance with applicable accounting standards and regulations, ensuring full disclosure[138]. - The board confirmed their responsibility for maintaining proper accounting records and preparing financial statements that fairly reflect the group's financial position as of June 30, 2021[149]. - The company emphasizes the importance of clear and timely financial reporting to maintain stakeholder confidence[151]. - The company has complied with relevant laws and regulations, with no significant violations reported during the year[153].

Financial Performance - Revenue for the six months ended December 31, 2020, was HKD 15,310,000, a decrease of 18.5% compared to HKD 18,781,000 for the same period in 2019[4] - Gross profit for the same period was HKD 10,300,000, down 24.5% from HKD 13,616,000 in 2019[4] - The net loss for the six months ended December 31, 2020, was HKD 16,140,000, significantly improved from a net loss of HKD 44,317,000 in 2019, representing a reduction of 63.6%[6] - Total comprehensive loss for the period was HKD 11,505,000, compared to HKD 40,947,000 in the previous year, indicating a 72% improvement[6] - The company reported a basic and diluted loss per share of HKD 0.27 for the period, compared to HKD 0.79 in the previous year, showing a 65.8% improvement[4] - The group reported a net loss attributable to owners of the company of HKD 15,004,000 for the six months ended December 31, 2020, compared to a loss of HKD 43,794,000 in the same period of 2019[44] - The pre-tax loss for the period was approximately HKD 15,586,000, a decrease of about 63.4% from a pre-tax loss of HKD 42,579,000 in the same period last fiscal year[72] Assets and Liabilities - Non-current assets increased to HKD 1,570,409,000 as of December 31, 2020, compared to HKD 1,531,376,000 as of June 30, 2020, reflecting a growth of 2.5%[8] - Cash and bank balances increased to HKD 157,784,000 from HKD 132,957,000, representing an increase of 18.7%[8] - As of December 31, 2020, the company's current liabilities decreased to HKD 263,259,000 from HKD 249,381,000 as of June 30, 2020, representing a 5.5% increase[10] - The total assets less current liabilities stood at HKD 1,807,170,000, slightly down from HKD 1,815,831,000 as of June 30, 2020[10] - The company's equity attributable to owners decreased to HKD 1,788,272,000 from HKD 1,795,760,000, reflecting a 0.4% decline[10] - The company's total equity as of December 31, 2020, was HKD 1,783,860,000, down from HKD 1,792,484,000, a decrease of 0.5%[10] - The company's short-term deposits increased significantly to HKD 86,198,000 from HKD 8,410,000, indicating a substantial growth in liquidity[12] Cash Flow - The net cash generated from operating activities for the six months ended December 31, 2020, was HKD 1,235,000, a decline of 61.2% compared to HKD 3,182,000 for the same period in 2019[12] - The cash and cash equivalents at the end of the period increased to HKD 181,088,000 from HKD 91,218,000, marking a 98.7% increase year-over-year[12] - The net cash used in investing activities was HKD (36,353,000), a significant decrease compared to HKD 79,164,000 generated in the previous year[12] - The financing activities generated a net cash inflow of HKD 53,423,000, compared to HKD 18,613,000 in the prior year, indicating a 187.5% increase[12] Segment Performance - The reported segment loss for the property investment and trading business was HKD 34,085,000, compared to a loss of HKD 38,626,000 in the previous year, indicating an improvement of about 11.5%[32] - The group’s revenue from external customers in the property development segment was HKD 10,573,000, while the property investment and trading segment generated HKD 3,510,000[32] - The total rental income from property investment and trading for the period was approximately HKD 11,544,000, down from HKD 15,172,000 in the previous six months[104] Market Outlook and Strategy - The company plans to focus on market expansion and new product development in the upcoming quarters to drive future growth[4] - The company maintains a cautiously optimistic outlook on the property market, expecting gradual recovery in the local economy post-pandemic[110] - The company plans to continue prudent acquisition and disposal of properties to enhance recurring income and capital appreciation[110] - The company aims to expand its securities investment and trading business as well as loan financing operations to achieve stable growth in recurring income[110] Corporate Governance - The company has maintained high standards of corporate governance, adhering to all applicable corporate governance codes during the reporting period[132] - The Audit Committee, consisting of three independent non-executive directors, has reviewed the unaudited consolidated results and confirmed compliance with applicable accounting standards[134] - The company emphasizes long-term financial performance over short-term gains in its corporate governance objectives[132] Employee and Shareholder Information - The group has a total of 21 employees as of December 31, 2020, with total employee costs amounting to approximately HKD 6,663,000[89] - The company reported a total of 465,096,000 shares issued, with a percentage of 8.29% held by key executives[117] - The company’s major shareholder, Pang Wei Xin, holds 374,796,000 shares and 90,300,000 related shares, representing a substantial ownership stake[117] Investment Activities - The company has significant investments in properties across Hong Kong, the UK, and Japan, including ten investment properties and two commercial properties for sale in Hong Kong[70] - The group anticipates the completion of a property development project in Birmingham, UK, by the second or third quarter of 2021[91] - The group has acquired two serviced apartments in Hokkaido, Japan, which are expected to gradually recover rental income starting July 2021[104]

Financial Performance - For the fiscal year ending June 30, 2020, the group recorded a revenue of approximately HKD 33,730,000, a decrease of about 21% compared to HKD 42,944,000 in the previous fiscal year[9]. - The group reported a loss before tax of approximately HKD 154,350,000 for the year, compared to a profit of approximately HKD 44,162,000 in the previous fiscal year[9]. - The decline in revenue was primarily due to a decrease in the revenue from securities trading activities[9]. - The group experienced a fair value loss on investment properties of approximately HKD 91,085,000, compared to a fair value gain of HKD 18,968,000 in the previous year[15]. - The group recorded an impairment loss on properties held for sale of approximately HKD 60,315,000, whereas there was no such loss in the previous year[15]. - The group recorded a revenue of approximately HKD 33,730,000 for the year, a decrease of about 21% compared to HKD 42,944,000 in the previous fiscal year[13]. - The group reported a loss before tax of approximately HKD 154,350,000, compared to a profit of HKD 44,162,000 in the previous fiscal year[13]. - The net loss attributable to the company's owners for the year was HKD (153,375,000), compared to a profit of HKD 42,997,000 in the previous year[94]. - Total assets as of June 30, 2020, were HKD 2,065,212,000, with total liabilities of HKD (272,728,000)[95]. - The group's net asset value was HKD 1,792,484,000 as of June 30, 2020, down from HKD 1,950,406,000 the previous year[95]. - The company reported a total revenue of HKD 33,730,000 for 2020, a decrease of 21.5% from HKD 42,944,000 in 2019[183]. - Gross profit for the year was HKD 26,685,000, slightly down from HKD 26,936,000 in the previous year[183]. - The company incurred a loss before tax of HKD 154,350,000, compared to a profit of HKD 44,162,000 in 2019, indicating a significant decline in performance[183]. - The net loss for the year was HKD 155,766,000, a stark contrast to the profit of HKD 43,100,000 reported in 2019[187]. - The company’s total comprehensive income for the year was HKD (158,385,000), down from HKD 51,094,000 in the previous year[187]. - Total assets decreased to HKD 1,815,831,000 from HKD 1,977,091,000 in 2019, reflecting a decline in the company's asset base[190]. - The company's cash and bank balances fell to HKD 132,957,000 from HKD 314,412,000, indicating a liquidity squeeze[190]. Economic Outlook - The group anticipates facing more severe challenges in the global economy due to geopolitical risks and the ongoing COVID-19 pandemic[10]. - Despite the economic uncertainties, the group remains cautiously optimistic about the local property market post-pandemic[10]. - The local economic situation remains severe, with a significant decline in private consumption expenditure recorded during the year due to social distancing measures and travel restrictions[15]. - The group anticipates a gradual recovery of the local economy post-pandemic, maintaining a cautiously optimistic outlook on the property market[21]. Property Development and Investment - The group is involved in a property development project located at 50 School Road, Moseley, Birmingham, UK, with a site area of 15,800 square feet, expected to complete in Q4 2020[13]. - The group owns 12 commercial, industrial, and residential properties in Hong Kong, as well as a commercial property in Cardiff, UK, and two serviced apartments in Hokkaido, Japan[15]. - The group believes that the new development project in the UK will enhance its property portfolio and provide opportunities for future growth[13]. - The group plans to continue seeking potential property development opportunities both locally and overseas to enhance shareholder value[13]. - The group anticipates that the supply of private residential units will remain high, with a total of 92,000 units expected over the next three to four years[13]. - The property investment and trading segment recorded total rental income of approximately HKD 29,296,000, a decrease from HKD 30,859,000 in the previous year[19]. - The segment's rental income included approximately HKD 27,149,000 from core operations, down from HKD 27,841,000 in the previous year[19]. - The company acquired two serviced apartments in Niseko, Japan, which are expected to benefit from increasing inbound tourism and interest in the ski resort[19]. - The company remains optimistic about the long-term prospects of the commercial property market in Hong Kong, the UK, and Japan, viewing these properties as excellent investment opportunities[19]. - The company confirmed a property impairment of HKD 60,315,000 due to declining retail space prices and rental rates[19]. - The company expects to provide stable income sources from its property investments despite the impact of the COVID-19 pandemic[19]. Financial Strategy and Management - The group aims to maintain competitiveness and ensure sustainable development to protect shareholder interests[10]. - The group plans to continue a prudent approach to acquiring and selling properties to increase recurring income and capital appreciation[10]. - The strategy includes expanding securities investment and trading businesses as well as loan financing operations to achieve stable recurring income growth[10]. - The loan financing business generated interest income of approximately HKD 2,557,000, compared to HKD 538,000 in the previous year, representing an increase of about 376%[19]. - The fair value loss on debt instruments was approximately HKD 289,000, compared to a gain of HKD 587,000 in the previous year[19]. - The company has adopted a prudent financial policy to reduce credit risk through continuous credit assessments of clients[34]. - The company has arranged foreign exchange bank financing in GBP, EUR, and JPY to hedge against foreign exchange risks related to property acquisitions[33]. - The company maintains a close watch on its liquidity position to ensure that its asset, liability, and capital structure meet funding needs[34]. - The company has established a system for evaluating and selecting director candidates based on various criteria, including character, integrity, and relevant professional qualifications[69]. 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[43]. - The board consists of experienced members, including the chairman and executive director, who has been with the company since May 2016[38]. - The independent non-executive director has extensive experience in investment banking and professional accounting[40]. - The board held five meetings and one annual general meeting during the year, demonstrating active governance and oversight[51]. - All independent non-executive directors have confirmed their independence, ensuring compliance with the relevant regulations[50]. - The company has implemented a training program for directors to enhance their knowledge and skills, ensuring informed contributions to the board[55]. - The remuneration committee, chaired by Mr. Long, includes four members, with three being independent non-executive directors, ensuring proper oversight of executive compensation[57]. - The company has established a clear distinction between the roles of the chairman and the CEO, enhancing governance structure[44]. - The board is responsible for formulating corporate policies, business strategies, and risk management, ensuring comprehensive oversight of the company's operations[46]. - The company has committed to continuous professional development for all directors, ensuring they remain updated on relevant knowledge and skills[55]. - The company has established a remuneration committee consisting mainly of independent non-executive directors to review the remuneration packages of all directors and senior management[60]. - The nomination committee, which includes four members, is responsible for nominating director candidates and reviewing nominations to ensure fairness and transparency[63]. - The board diversity policy aims for at least one-third of board members to be independent non-executive directors and at least one member to have accounting or other professional qualifications[67]. - The board has achieved measurable targets under the board diversity policy during the year[67]. - The company recognizes the benefits of a diverse board to enhance performance quality[63]. - The company has a total of six male directors and one female director on the board[65]. - The age distribution of the board includes three members aged 61 or older, two members aged 51-60, and one member aged 41-50[65]. Environmental, Social, and Governance (ESG) Initiatives - The company has prepared its Environmental, Social, and Governance (ESG) report for the fourth consecutive year, detailing its sustainable development performance[136]. - The company aims to reduce energy consumption and greenhouse gas emissions through systematic management of energy use and carbon footprint[141]. - The company has implemented waste management measures and recycling systems to responsibly manage resource usage[142]. - The company encourages employees to adopt environmentally friendly practices, such as double-sided printing and using electronic communications[143]. - The company has committed over HKD 10,000,000 to its charitable foundation to support underprivileged families since its establishment in 2011[137]. - The company maintains a focus on employee safety and equal opportunity in hiring and promotion practices[146]. - The company has set a goal to achieve more significant results in waste reduction in the coming years[142]. - The company has adopted energy-efficient lighting systems and regularly monitors electricity consumption to optimize energy use[141]. - The company has established internal environmental policies to foster a green culture within its operations[143]. - The total greenhouse gas emissions amounted to 200.28 tons of CO2 equivalent, with scope 2 emissions at 196.00 tons[155]. - The total energy consumption was 241.98 thousand kilowatt-hours, with indirect energy consumption accounting for the entire amount[155]. - The total water consumption reached 608 cubic meters, with a density of 19.00 cubic meters per full-time equivalent[155]. - There were no reported cases of work-related fatalities or lost workdays due to injuries during the year[150]. - The company made donations exceeding HKD 1,500,000 to various charitable organizations and community projects[153]. - The employee count was 13 full-time, with 8 males and 5 females, and no part-time employees[155]. - The company has established a whistleblowing policy to ensure management is aware of any concerns regarding corruption or bribery[150]. - The company adheres to high ethical standards and has a competitive compensation package for employees[150]. - The company is committed to integrating corporate social responsibility into its supply chain management processes[153]. Audit and Compliance - The company's financial statements were audited in accordance with Hong Kong Financial Reporting Standards, reflecting a true and fair view of its financial position[162]. - The auditor's fee for the year was approximately HKD 510,000, with no non-audit services provided[70]. - The audit committee held five meetings during the year to review the audited consolidated financial statements for the year ending June 30, 2019[70]. - The board confirmed that there are no significant uncertainties that may cast doubt on the group's ability to continue as a going concern[72]. - The audit committee reviewed the unaudited consolidated quarterly and interim results, ensuring compliance with applicable accounting standards[72]. - The board is responsible for establishing and reviewing corporate governance policies and practices[73]. - The board held two meetings to review policies related to corporate governance compliance[74]. - All members of the audit committee are independent non-executive directors, ensuring unbiased oversight[70]. - The audit committee's main responsibilities include monitoring financial controls and risk management systems[70]. - The company continues to adopt the going concern basis in preparing its financial statements[72]. - The audit committee has met with the company's auditors three times during the year[70]. - The company has no internal audit department but will continue to assess the need for one based on the scale and complexity of its operations[77]. - The company has implemented measures to ensure the confidentiality of insider information and compliance with applicable laws and regulations[79]. Shareholder Information - The company has a total of six male directors and one female director on the board[65]. - The total number of shares held by the chairman is 357,596,000, representing approximately 6.45% of the total shares[109]. - The chairman also has a controlling interest in a company that holds 3,346,419,668 shares, which is approximately 60.32% of the total shares[109]. - The CEO holds 145,680,000 shares, which is approximately 2.63% of the total shares[109]. - Major shareholder Dong Jingyi holds 3,704,015,668 shares, representing 66.76% of the equity[117]. - Virtue Partner Group Limited, owned by Mr. Pang, holds 3,346,419,668 shares, accounting for 60.32% of the equity[117]. - The total number of shares available for issuance under the share option plan is 682,292,566 shares, equivalent to approximately 12.3% of the issued shares[120]. - The share option plan is valid for a period of 10 years from the adoption date[120]. - The exercise price for any designated share options will be determined by the board, with a minimum price based on the closing price on the offer date[120]. - The plan aims to reward selected individuals for their contributions to the company and its subsidiaries[118]. - Any grant of share options to connected persons must be approved by independent non-executive directors[120]. - If the proposed grant of share options exceeds 0.1% of the issued shares and is valued over HKD 5,000,000, it requires shareholder approval[120]. - The maximum number of options that can be granted to any participant within a 12-month period is capped at 10% of the total issued shares[120]. - The company does not have knowledge of any other individuals holding 5% or more of the equity as of June 30, 2020[117]. - The company granted 55,000,000 stock options at an exercise price of HKD 0.048, valid from April 28, 2020, to October 27, 2020[122]. - As of June 30, 2020, the total outstanding stock options amounted to 191,480,000, with 64,000,000 options granted during the year[127]. - The company maintains a public float of at least 25% of its issued shares, ensuring compliance with corporate governance standards[129]. - The total value of related party transactions disclosed in the financial statements is below the thresholds requiring independent shareholder approval, with annual costs under HKD 10,000,000[129]. - The company has not entered into any management contracts for significant portions of its business operations during the year[127]. - The exercise price for stock options granted in previous years ranges from HKD 0.121 to HKD 0.221, with varying expiration dates[122]. - The company has a lease agreement with a total transaction value that does not exceed 25% of applicable percentage ratios[129]. - The company’s auditor, Hong Kong Li Xin De Hao CPA Limited, is eligible for reappointment at the upcoming annual general meeting[131]. - The company has no provisions in its articles of association regarding preemptive rights for existing shareholders when issuing new shares[130]. - The company’s subsidiary, Monilea Limited, has entered into a two-year lease agreement effective from September 21, 2020[131]. - The company has established a two-year lease agreement with a subsidiary starting from June 9, 2019[132].

Financial Performance - Revenue for the six months ended December 31, 2019, was HKD 18,781,000, an increase of 43% compared to HKD 13,103,000 for the same period in 2018[3] - Gross profit for the same period was HKD 13,616,000, up from HKD 12,576,000, reflecting a gross margin improvement[3] - The net loss for the period was HKD 44,317,000, compared to a profit of HKD 21,838,000 in the previous year, indicating a significant decline in profitability[4] - The total comprehensive loss for the period amounted to HKD 40,947,000, compared to a comprehensive income of HKD 28,657,000 in the prior year[4] - The basic and diluted loss per share for the period was HKD (0.79) cents, compared to earnings of HKD 0.39 cents per share in the previous year[3] - The company reported a fair value loss on financial instruments amounting to HKD 31,201,000 during the period[3] - The company’s total comprehensive income for the period was HKD 28,617 thousand, a recovery from a loss of HKD 40,424 thousand in the same period of the previous year[15] - The group reported a loss attributable to owners of the company of HKD 43,794,000 for the six months ended December 31, 2019, compared to a profit of HKD 21,798,000 in the same period of 2018[43] - The company’s total comprehensive loss before tax for the six months ended December 31, 2019, was HKD (42,579,000), compared to a profit of HKD 22,635,000 in the same period of 2018[38] Assets and Liabilities - Non-current assets increased to HKD 1,654,817,000 as of December 31, 2019, compared to HKD 1,511,879,000 as of June 30, 2019[7] - Current assets decreased to HKD 550,357,000 from HKD 674,970,000, indicating a reduction in liquidity[8] - Total liabilities increased to HKD 270,420,000 from HKD 209,758,000, reflecting a rise in financial obligations[8] - The company's equity attributable to owners was HKD 1,910,867,000, down from HKD 1,951,291,000, showing a decrease in shareholder value[8] - Total assets reported as of December 31, 2019, amounted to HKD 1,388,822,000, compared to HKD 1,296,433,000 as of December 31, 2018, reflecting an increase of approximately 7.1%[38] - As of December 31, 2019, the group's net current assets were approximately HKD 279,937,000, down from approximately HKD 465,212,000 as of June 30, 2019[81] Cash Flow - The net cash generated from operating activities for the six months ended December 31, 2019, was HKD 3,182 thousand, a significant improvement from a net cash outflow of HKD 36,626 thousand in the same period of 2018[10] - The net cash generated from investing activities increased to HKD 79,164 thousand, compared to HKD 8,966 thousand in the previous year, indicating a strong investment performance[10] - The net cash generated from financing activities was HKD 17,683 thousand, down from HKD 53,423 thousand in the prior year, reflecting changes in financing strategies[10] - The total cash and cash equivalents at the end of the period rose to HKD 295,022 thousand, up from HKD 181,088 thousand at the end of the previous year, showing improved liquidity[10] - The cash and bank balances stood at HKD 94,890 thousand, compared to HKD 37,748 thousand in the previous year, indicating a strong cash position[10] Investment and Development - The company continues to focus on property investment and development, with no significant changes in its business segments during the reporting period[20] - The group is involved in property development projects in the UK and holds ten potential commercial properties for investment in Hong Kong, the UK, and Japan[77] - The group anticipates that the property investment and trading segment will provide substantial and stable income sources moving forward[112] - The group believes that the investment in Japanese real estate is a long-term investment opportunity, benefiting from increased inbound tourism and interest in Niseko ski resorts[112] - The group has acquired two retail shops and two advertising boards in Tai Kok Tsui, which are expected to appreciate in value due to ongoing redevelopment in the area[108] Economic Environment - The local economy in Hong Kong experienced contraction during the period, with significant impacts from social events and global economic slowdowns[77] - The residential property market weakened further, with notable declines in transaction activities and rental prices[77] - The Hong Kong economy contracted by approximately 3% during the period, with increasing external challenges due to the Wuhan coronavirus and escalating US-China trade conflicts[119] - The government plans to maintain a high level of residential supply over the next three to four years, targeting around 93,000 units to ensure a healthy real estate market[119] Corporate Governance - The company has maintained high corporate governance standards, adhering to all applicable governance codes during the reporting period[144] - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited consolidated results and confirmed compliance with accounting standards[146] - No directors or their immediate family members were granted rights to purchase shares or bonds during the reporting period[141] - The company did not engage in any buybacks or sales of its listed securities during the reporting period[142] Shareholder Information - As of December 31, 2019, the company had a total of 157,628,000 shares, representing approximately 2.84% of the total issued shares[124] - Major shareholder Dong Jingyi holds 3,504,047,668 shares, representing 63.16% of the total shares[133] - Virtue Partner Group Limited, wholly owned by Mr. Pang, holds 3,346,419,668 shares, indicating significant ownership concentration[135] - The company holds a total of 140,680,000 shares owned by key executives, representing approximately 2.54% of the total issued shares[124] Strategic Focus - The company aims to focus on property investment and trading, alongside securities investment, to broaden its revenue base and enhance shareholder returns[119] - The company is committed to identifying potential property and securities investment opportunities to establish a diversified and balanced business portfolio[119] - The company will continue to monitor and analyze local and global economic impacts to make prudent business decisions and adjust development plans as necessary[119] - The company emphasizes its strategy to enhance shareholder returns through careful business planning and execution amid economic uncertainties[119]

Financial Performance - For the fiscal year ending June 30, 2019, the group recorded a revenue of approximately HKD 42,944,000, a decrease of about 93.3% compared to HKD 638,065,000 in the previous fiscal year[7] - Shareholders' profit for the fiscal year was approximately HKD 42,997,000, down approximately 70.5% from HKD 145,954,000 in the previous fiscal year, primarily due to one-time gains from property sales in the prior year[8] - The group's profit before tax was approximately HKD 44,162,000, down about 82.7% from approximately HKD 255,337,000 in the previous fiscal year[13] - The net profit after tax was HKD 43,100,000, a decrease from HKD 210,333,000 in the prior year[145] - The company did not recommend the payment of a final dividend for the year, compared to HKD 0.18 cents in the previous year[141] - The company is committed to reviewing its dividend policy regularly, with no guarantee of specific dividend payments for any period[133] - The company’s financial performance and position as of June 30, 2019, are detailed in the financial statements[140] Business Strategy and Development - The group is actively seeking potential opportunities for property investment and trading in Hong Kong and overseas to establish a diversified and balanced business portfolio[9] - The group has established two new business segments this fiscal year: securities investment and trading, and lending, to broaden its revenue base[9] - The group believes that local and international property development, investment, and trading can expand its revenue base and benefit shareholders in the long term[9] - The group aims to continue seeking potential property development opportunities both in Hong Kong and overseas to enhance shareholder value[17] - The group aims to identify potential property and securities investment opportunities to establish a diversified and balanced business portfolio[29] Property Investments - The group is involved in a property development project in the UK and holds eight potential commercial properties for investment in Hong Kong, the UK, and Japan[11] - The group is involved in a property development project in Birmingham, UK, with a site area of 15,800 square feet, expected to be completed by mid-2020[17] - The group owns ten potential commercial properties in Hong Kong and one in Cardiff, UK, with the Cardiff property generating a rental yield of over 7%[20] - The property at 419K Queen's Road West has a total floor area of approximately 10,300 square feet and is leased to a church for a fixed term of three years[18] - The property at 19 Hong Kai Road, Kowloon Bay, has a total floor area of approximately 16,500 square feet and is fully leased, with one unit currently seeking potential tenants[19] - The group believes that the property at 9 Queen's Road Central has potential for long-term appreciation and stable income generation[22] Economic Environment - The Hong Kong economy experienced moderate growth of approximately 0.6% compared to the previous year, despite external challenges impacting local demand[11] - The overall investment expenditure continues to decline due to a cautious business atmosphere and external uncertainties, including US trade policies and geopolitical tensions[11] - The group expects the external economic environment to remain uncertain, impacting future trading and investment activities[28] Corporate Governance - The company has adopted the corporate governance code as per the listing rules and has complied with all provisions during the year[61] - The roles of Chairman and CEO have been clearly separated, with Mr. Pang Wei Xin as Chairman and Mr. Li Yong Xian as CEO[62] - The board held six meetings and one annual general meeting during the year, ensuring active participation from all directors[69] - The company has appointed three independent non-executive directors, all possessing adequate experience and qualifications[66] - The board has established a remuneration committee that meets at least once a year to oversee compensation matters[90] - The audit committee's main responsibilities include reviewing and monitoring the group's financial controls and risk management systems[111] Shareholder Information - Major shareholder Virtue Partner Group Limited holds 3,346,419,668 shares, representing approximately 60.32% of the total issued shares[167] - Another major shareholder, Dong Jingyi, has family interests amounting to 3,504,047,668 shares, which is 63.16% of the total issued shares[167] - The company has a maximum share issuance limit of 1% of the total issued shares under the stock option plan[167] - The stock option plan was adopted on November 1, 2011, allowing the company to grant options to selected individuals as a reward for their contributions[168] Environmental, Social, and Governance (ESG) Initiatives - The company has been preparing an Environmental, Social, and Governance (ESG) report for three consecutive years, detailing its performance in sustainable development[190] - The company aims to reduce energy consumption and greenhouse gas emissions through systematic management of energy use and carbon footprint, including the installation of energy-efficient lighting systems[197] - The company encourages employees to use electronic communications to minimize paper usage and has implemented waste management measures and recycling systems[198] - The company maintains a goal to achieve significant waste reduction results in the coming years through systematic waste and resource management policies[198] - The company is committed to corporate social responsibility, enhancing community economic and social value while minimizing environmental impact[193]

Financial Performance - Revenue for the six months ended December 31, 2018, was HKD 13,103,000, a decrease from HKD 624,587,000 in the same period of 2017, representing a decline of approximately 97.9%[4] - Gross profit for the same period was HKD 12,576,000, down from HKD 160,856,000, indicating a significant decrease of about 92.2%[4] - Profit before tax was HKD 22,635,000, compared to HKD 150,829,000 in the previous year, reflecting a decline of approximately 85.0%[4] - Net profit for the period was HKD 21,838,000, down from HKD 150,171,000, which is a decrease of around 85.4%[6] - Earnings per share for the period was HKD 0.39, a decrease from HKD 1.31 in the same period last year, representing a decline of approximately 70.4%[4] - Total comprehensive income for the period was HKD 28,657,000, compared to HKD 150,007,000 in the previous year, indicating a decrease of about 81.0%[6] - The company reported a total comprehensive income of HKD 73,284 thousand for the six months ended December 31, 2018, compared to HKD 1,841,070 thousand for the same period in 2017[14] - The total comprehensive income before tax for the six months ended December 31, 2018, was HKD 22,635,000, significantly lower than HKD 150,829,000 in the previous year, a decrease of approximately 85.0%[73] - The company reported a net profit attributable to owners of HKD 21,798,000 for the six months ended December 31, 2018, down from HKD 72,871,000 in 2017, a decline of about 70.1%[78] Assets and Liabilities - Non-current assets as of December 31, 2018, amounted to HKD 1,373,989,000, slightly up from HKD 1,357,276,000 as of June 30, 2018[8] - Current assets totaled HKD 770,264,000, an increase from HKD 759,873,000 as of June 30, 2018[10] - The company's total assets less current liabilities stood at HKD 1,967,798,000, compared to HKD 1,936,285,000 in the previous period[10] - The net asset value as of December 31, 2018, was HKD 1,939,722,000, an increase from HKD 1,905,979,000 as of June 30, 2018[10] - The company’s total assets as of December 31, 2018, were HKD 1,296,433,000, reflecting a decrease from HKD 1,238,383,000 in the previous year[70] - The net asset value of current assets as of December 31, 2018, was approximately HKD 593,809,000, an increase from HKD 579,009,000 as of June 30, 2018[111] Cash Flow - The net cash used in operating activities for the six months ended December 31, 2018, was HKD (36,626) thousand, a significant decrease compared to HKD 603,353 thousand for the same period in 2017[12] - The net cash generated from investing activities was HKD 8,966 thousand, contrasting with a net cash used of HKD (86,187) thousand in the previous year[12] - The net cash used in financing activities amounted to HKD (268,371) thousand, compared to HKD 17,683 thousand in the prior year[12] - The cash and cash equivalents at the end of the period increased to HKD 426,567 thousand from HKD 295,022 thousand year-over-year[12] - The cash and bank balances, along with short-term deposits, totaled HKD 354,543 thousand at the end of the reporting period[12] - The cash and bank balances amount to HKD 511,508,000[47] Accounting Policies and Standards - The financial statements have been reviewed by the audit committee and approved by the board of directors for publication[21] - The financial statements were prepared in accordance with HKFRS 34 and the relevant disclosure requirements of the Listing Rules[22] - The group adopted new accounting standards, including HKFRS 9 and HKFRS 15, which may impact financial reporting[27] - The financial reports do not include all the information and disclosures required for annual financial statements[22] - The group’s accounting policies remain consistent with those applied in the previous financial year, except for the new standards adopted[23] - The transition to HKFRS 9 did not have a significant impact on the accounting policies related to financial liabilities and derivatives[30] Investments and Segments - The group has identified the following reportable segments: property development, property investment and trading, renovation services, securities investment and trading, and lending services[62] - The company has established a new securities investment and trading segment, focusing on high-return stock portfolios and other investment products[143] - The group completed the sale of Erwiro Global Limited and Sonic Returns Limited for a total consideration of HKD 52,739,500 on October 19, 2018[113] - The group is involved in a property development project in Birmingham, UK, with a site area of 15,800 square feet, expected to yield approximately 12,000 square feet of residential space upon completion in early 2020[130] - The group owns eight commercial properties in Hong Kong and one in Cardiff, UK, with the Cardiff property generating a rental yield exceeding 7%[135] Corporate Governance - The audit committee reviewed the group's unaudited consolidated results and confirmed compliance with applicable accounting standards and regulations[175] - The company has adopted a code of conduct for directors regarding securities trading, with no violations reported during the period[172] - The company maintains high standards of corporate governance, focusing on long-term financial performance rather than short-term gains[173] - The board of directors' service agreements have been renewed for terms of three years starting from May 17, 2019, and June 1, 2019, respectively[168] Employee and Compensation - The total employee costs for the period were approximately HKD 5,567,000, compared to HKD 8,383,000 for the six months ended December 31, 2017[129] - The chairman and executive director's salary was adjusted from HKD 504,000 to HKD 529,000 per month, effective from January 1, 2019[168] - The CEO's salary was adjusted from HKD 100,000 to HKD 105,000 per month, effective from January 1, 2019[168] - The group has a total of 13 employees as of December 31, 2018, maintaining the same number as of June 30, 2018[129] Related Party Transactions - The company engaged in significant related party transactions, including professional fees of HKD 302,000 paid to a related company[98] Stock Options and Shareholding - The company has granted stock options under its stock option plan, with a total of 22,600,000 options exercisable at HKD 0.221, expiring on June 2, 2022[155] - As of December 31, 2018, the total number of shares held by major shareholders includes 3,504,047,668 shares, representing 63.16% of the total issued shares[164] - The beneficial owner, Pang Wei Xin, holds 3,346,419,668 shares, which accounts for approximately 60.32% of the total issued shares[164] - The company has issued stock options totaling 157,628,000 shares, which is approximately 2.84% of the total issued shares[158]