Financial Performance - Revenue for the six months ended June 30, 2022, was HKD 41,654,000, a decrease of 43.9% compared to HKD 74,118,000 for the same period in 2021[7] - The operating profit for the period was HKD 325,474,000, significantly up from HKD 6,098,000 in the previous year[7] - The net profit for the period was HKD 318,494,000, compared to a net loss of HKD 4,519,000 in the corresponding period of 2021[7] - Basic and diluted earnings per share for the period were HKD 14.99, a substantial increase from a loss of HKD 0.70 per share in the prior year[7] - Total comprehensive income for the period was HKD 310,565,000, compared to a loss of HKD 7,548,000 in the same period last year[8] - The group reported a profit attributable to owners of the company of approximately HKD 326,154,000 for the six months ended June 30, 2022, compared to a loss of HKD 4,515,000 in 2021[29] - The group recorded a gross loss of approximately HKD 6,522,000 for the period, with a negative gross margin of 15.7%, compared to a gross profit of approximately HKD 19,877,000 and a gross margin of 26.8% in the corresponding period[60] Assets and Liabilities - Non-current assets as of June 30, 2022, totaled HKD 206,934,000, down from HKD 227,418,000 as of December 31, 2021[9] - Current liabilities decreased to HKD 359,455,000 from HKD 783,324,000 at the end of the previous year[9] - The company's total equity as of June 30, 2022, was HKD 98,703,000, a recovery from a negative equity of HKD 470,447,000 at the end of 2021[10] - The company’s total assets as of June 30, 2022, were HKD 256,134,000, down from HKD 302,673,000 at the end of 2021[19] - The company’s total liabilities decreased to HKD 252,021,000 from HKD 360,183,000 at the end of 2021[19] - The company’s total liabilities decreased significantly due to debt restructuring, with a reduction of HKD 231,914,000 during the period[42] Cash Flow and Financing - The net cash flow from operating activities was a negative HKD 72,036,000, a significant decline from a positive cash flow of HKD 6,584,000 in the previous year[12] - Cash and cash equivalents increased significantly to HKD 252,350,000 from HKD 87,122,000 at the end of the previous year[9] - Cash and cash equivalents increased to HKD 125,953,000 at the end of the period, up from HKD 660,000 at the end of 2021[12] - The company recorded borrowings of approximately HKD 47,554,000 as of June 30, 2022, down from HKD 69,218,000 as of December 31, 2021, with bank loans amounting to HKD 1,433,000 at an interest rate of 6.175%[82] - Financing costs for the period were approximately HKD 6,980,000, a decrease of about HKD 3,637,000 or 34.2% from approximately HKD 10,617,000 in the corresponding period[63] Business Operations - The company has one operating segment, which is the provision of car rental and commuter bus services[19] - The company is expanding its business coverage in first-tier cities and tourist areas, successfully initiating a pilot program in Hangzhou with local passenger transport companies[59] - The pilot program allows the company to earn service fees based on a percentage of operating income without incurring capital expenditures, reducing business expansion risks[59] - The management is also developing new quality businesses in commercial freight and logistics services, including iron ore and coal transportation[59] - The COVID-19 pandemic significantly impacted operations, leading to a decrease in service usage and revenue during the second quarter of 2022[58] Share Capital and Equity - The company completed the issuance of 1,588,000,000 shares at a subscription price of HKD 0.11 per share, raising approximately HKD 170,573,000[49] - The total issued share capital as of June 30, 2022, was HKD 3,437,339,000, with 3,077,628,409 shares outstanding[47] - The company’s issued share capital decreased from 6,411,770,500 shares to 3,077,628,409 shares due to a share consolidation effective January 25, 2022[49] - The subscription price per share was set at HKD 0.11, representing a discount of approximately 92.3% to the theoretical closing price[73] Governance and Compliance - The audit committee has reviewed the unaudited condensed interim results for the six months ending June 30, 2022, and confirmed compliance with applicable accounting standards and listing rules[98] - The company has adopted the corporate governance code as a benchmark for its governance practices and has complied with the relevant code provisions, with some exceptions noted[97] - The company has established an audit committee consisting of three independent non-executive directors to oversee financial reporting and risk management[98] Employee and Management - As of June 30, 2022, the group had 451 employees in Hong Kong and China, a decrease from 530 employees as of December 31, 2021[80] - The company continues to review employee compensation based on individual performance and financial results, with additional benefits including medical insurance and mandatory provident fund contributions[80] - The company has not appointed a CEO; the role and functions are performed collectively by all executive directors to ensure swift decision-making[94] Risks and Future Outlook - The management believes that the foreign exchange risk faced by the group is not significant, with most income and expenses denominated in RMB and HKD[79] - The company plans to continue evaluating its business objectives and may revise its plans based on changing market conditions[77]

Business Performance and Strategy - TMTC Group maintained stable business conditions despite the pandemic, with operations primarily in shuttle bus services[13]. - The pandemic's impact on corporate customers affected the Company's performance growth[13]. - The Company plans to diversify its business from shuttle bus services to include passenger transportation, freight transportation, and other services[14]. - The management recognizes the need to avoid reliance on a single business segment to mitigate pandemic-related risks[14]. - The Company aims to cautiously expand into related industries based on thorough research and inspection[14]. - The performance for 2021 is considered acceptable, with expectations for improved results in 2022[21]. - The overall performance in 2021 was stable, with a gradual normalization of the shuttle bus business in Beijing[49]. - The company is alert to the impacts of the pandemic on existing and potential customers, affecting its business expansion progress[49]. Financial Highlights - The Group's revenue from car rental and shuttle bus services for 2021 was approximately HK$142,814,000, an increase of 6.2% compared to HK$134,527,000 in 2020[28]. - The cost of revenue for 2021 was approximately HK$105,886,000, reflecting a 2.2% increase from HK$103,568,000 in 2020[28]. - The gross profit margin improved to 25.9% in 2021 from 23.0% in 2020, with gross profit rising by 19.3% to HK$36,928,000[28]. - Other income for 2021 was approximately HK$86,181,000, up from HK$69,472,000 in 2020, primarily due to a gain on other loan written off amounting to HK$85,786,000[28]. - The Group's profit for the year increased by approximately HK$18,600,000 or 46.5% from HK$40,011,000 in 2020 to HK$58,611,000 in 2021, with a net profit margin increase from 29.7% to 41.0%[31]. - Current assets increased from approximately HK$84,932,000 as at 31 December 2020 to approximately HK$87,122,000 as at 31 December 2021, mainly due to an increase in trade receivables[33]. - Total liabilities decreased from approximately HK$852,778,000 as at 31 December 2020 to approximately HK$784,987,000 as at 31 December 2021, primarily due to the settlement of borrowings and lease liabilities[33]. - The issued share capital of the Company was HK$3,178,754,000 divided into 6,411,770,500 shares as at 31 December 2021[33]. Capital Reorganisation and Debt Restructuring - The Company completed Capital Reorganisation, Open Offer, Subscription, and Debt Restructuring, achieving Resumption of Trading[12]. - The restructuring and transactions for resumption of trading were approved on January 21, 2022, allowing trading to resume on March 10, 2022[23]. - A total of 7 valid applications were received for 108,260,129 Offer Shares, representing approximately 16.88% of the total number of Offer Shares available for subscription under the Open Offer[44]. - The remaining 532,916,921 Unsubscribed Shares represented approximately 83.12% of the total number of Offer Shares available for subscription[44]. - On March 9, 2022, the Board announced the allotment of 972,500,000 Subscription Shares and 615,500,000 Subscription Shares to the First and Second Subscribers, respectively[44]. - A total of 207,274,309 Creditors Shares were allotted and issued to 11 Creditors under the Debt Restructuring[44]. - The Capital Reorganisation included a Share Consolidation where every 10 existing Shares were consolidated into one Consolidated Share effective January 25, 2022[44]. Management and Governance - Mr. Ji has been the executive director since August 29, 2017, and chairman since November 29, 2018, leading the overall direction of the company[57]. - The company emphasizes the importance of independent directors in enhancing corporate governance and oversight[76]. - The board of directors includes members with diverse backgrounds in law, finance, and management, contributing to a well-rounded governance structure[76]. - The Company is committed to maintaining high standards of corporate governance to safeguard the interests of all Shareholders and enhance corporate value[148]. - The Company has adopted a Board Diversity Policy to enhance diversity at the Board level, considering factors such as gender, age, and professional experience[155]. - The Nomination Committee is responsible for reviewing the Board's composition and ensuring the effectiveness of the Board Diversity Policy[155]. Risk Management and Compliance - The Group's risk management and internal control systems are designed to manage risks rather than eliminate them, providing reasonable assurance against material misstatement or loss[195]. - The Company recognizes that effective risk management is essential for long-term sustainable growth[200]. - The Board is responsible for overseeing risk management and internal control systems, ensuring an annual review of their effectiveness[194]. - The Company complied with the relevant provisions of the Corporate Governance Code during the year ended December 31, 2021, with some deviations explained[149]. Future Outlook - The company aims to expand its business scope beyond Beijing to mitigate the impact of potential pandemic recurrences, conducting research in other cities for expansion[49]. - The company plans to invest in logistics and freight markets, including land, railway, air, and ship transportation logistics, to leverage the rigid demand for goods transportation[51]. - The management believes that 2022 will be a year of vigorous development, focusing on business expansion and laying a solid foundation for future growth[52].

National United Resources Holdings Limited ( Incorporated in Hong Kong with limited liability ) Stock Code: 254 2021 Interim Report 國家聯合資源控股有限公司 National United Resources Holdings Limited 國家聯合資源控股有限公司 (於香港註冊成立的有限公司) 股份代號 : 254 2021 中期報告 頁次 公司資料 2 簡明綜合損益表 3 簡明綜合全面收入表 4 簡明綜合財務狀況表 5 簡明綜合權益變動表 7 簡明綜合現金流量表 8 簡明綜合中期財務報表附註 9 管理層討論與分析 26 其他資料 34 國家聯合資源控股有限公司 1 二零二一年中期報告 目錄 國家聯合資源控股有限公司 二零二一年中期報告 2 獨立非執行董事 公司秘書 註冊辦事處 薪酬委員會 公司網站 提名委員會 公司資料 董事 執行董事 紀開平先生（主席） 郭培遠先生 非執行董事 安景文先生 李文先生 邱克先生 陳燕雲女士 陳佩珊女士 審核委員會 李文先生（委員會主席） 安景 ...

National United Resources Holdings Limited 國家聯合資源控股有限公司 ( Incorporated in Hong Kong with limited liability ) (於香港註冊成立的有限公司) Stock Code 股份代號 : 254 闯也 课 all and 2020 Annual Report 年 報 Contents 目錄 國家聯合資源控股有限公司 2020年年報 1 Page 頁次 | --- | --- | |------------------------------------------------|------------------| | | | | Contents | 目錄 | | Corporate Information | 公司資料 | | Chairman's Statement | 主席報告 | | Management Discussion and Analysis | 管理層討論與分析 | | Directors' Biographies | 董事履歷 | | Directors' Report | 董事會報告 | ...

National United Resources Holdings Limited ( Incorporated in Hong Kong with limited liability ) Stock Code: 254 2020 Interim Report 國家聯合資源控股有限公司 National United Resources Holdings Limited 國家聯合資源控股有限公司 (於香港註冊成立的有限公司) 股份代號 : 254 2020 中期報告 頁次 公司資料 2 簡明綜合損益表 3 簡明綜合全面收入表 4 簡明綜合財務狀況表 5 簡明綜合權益變動表 7 簡明綜合現金流量表 8 簡明綜合中期財務報表附註 9 管理層討論與分析 27 其他資料 38 目錄 國家聯合資源控股有限公司 1 二零二零年中期報告 國家聯合資源控股有限公司 二零二零年中期報告 2 公司資料 董事 執行董事 紀開平先生（主席） 郭培遠先生 非執行董事 安景文先生 法定代表 紀開平先生 陳佩珊女士 法律顧問 貝克‧麥堅時律師事務所 獨立核數師 | --- | --- | |----------------------- ...

National United Resources Holdings Limited 國家聯合資源控股有限公司 ( Incorporated in Hong Kong with limited liability ) (於香港註冊成立的有限公司) Stock Code 股份代號 : 254 2019 Annual Report 年報 Contents 目錄 國家聯合資源控股有限公司 2019年年報 1 Page 頁次 | --- | --- | |------------------------------------------------|------------------| | | | | Contents | 目錄 | | Corporate Information | 公司資料 | | Management Discussion and Analysis | 管理層討論與分析 | | Directors' Biographies | 董事履歷 | | Directors' Report | 董事會報告 | | Corporate Governance Report | 企業管治報告 | | Ind ...

National United Resources Holdings Limited ( Incorporated in Hong Kong with limited liability ) Stock Code : 254 2019 Interim Report 國家聯合資源控股有限公司 National United Resources Holdings Limited 國家聯合資源控股有限公司 (於香港註冊成立的有限公司) 股份代號 : 254 2019 中期報告 頁次 公司資料 2 簡明綜合損益表 3 簡明綜合全面收入表 4 簡明綜合財務狀況表 5 簡明綜合權益變動表 7 簡明綜合現金流量表 8 簡明綜合中期財務報表附註 9 管理層討論與分析 41 其他資料 49 目錄 國家聯合資源控股有限公司 1 二零一九年中期報告 國家聯合資源控股有限公司 二零一九年中期報告 2 | --- | --- | |--------------------------------------------------------|---------------------------------------------- ...

National United Resources Holdings Limited 國家聯合資源控股有限公司 ( Incorporated in Hong Kong with limited liability ) (於香港註冊成立的有限公司) Stock Code 股份代號 : 254 2018 Annual Report 年報 Contents 目錄 國家聯合資源控股有限公司 2018年年報 1 Page 頁次 | --- | --- | |------------------------------------------------|------------------| | Corporate Information | 公司資料 | | Management Discussion and Analysis | 管理層討論與分析 | | Directors' Biographies | 董事履歷 | | Directors' Report | 董事會報告 | | Corporate Governance Report | 企業管治報告 | | Independent Auditor's Repor ...

National United Resources Holdings Limited ( Incorporated in Hong Kong with limited liability ) Stock Code : 254 2018 Interim Report 國家聯合資源控股有限公司 National United Resources Holdings Limited 國家聯合資源控股有限公司 (於香港註冊成立的有限公司) 股份代號 : 254 2018 中期報告 頁次 公司資料 2 簡明綜合損益表 3 簡明綜合全面收入表 4 簡明綜合財務狀況表 5 簡明綜合權益變動表 7 簡明綜合現金流量表 8 簡明綜合中期財務報表附註 9 管理層討論與分析 35 其他資料 42 目錄 1 國家聯合資源控股有限公司 二零一八年中期報告 2 國家聯合資源控股有限公司 二零一八年中期報告 | --- | --- | |--------------------------------------------------------|---------------------------------------------- ...

National United Resources Holdings Limited 國家聯合資源控股有限公司 ( Inoorporated in Hong Kong with limited liability ) Stock Code 股份代號 : 254 2017 Annual Report 年報 Contents 目錄 國家聯合資源控股有限公司 2017年年報 1 Page 頁次 | --- | --- | |------------------------------------------------|------------------| | Corporate Information | 公司資料 | | Management Discussion and Analysis | 管理層討論與分析 | | Directors' Biographies | 董事履歷 | | Directors' Report | 董事會報告 | | Corporate Governance Report | 企業管治報告 | | Independent Auditor's Report | 獨立核數師報告 | | ...