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].

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].