Financial Performance - Total revenue for the year ended December 31, 2023, was HKD 153,068,000, a decrease from HKD 156,466,000 in 2022, representing a decline of approximately 2.5%[3] - Gross profit for the year was HKD 2,956,000, down from HKD 3,924,000 in the previous year, indicating a decrease of about 24.7%[3] - The company reported a net loss of HKD 47,164,000 for the year, compared to a net loss of HKD 48,590,000 in 2022, reflecting a slight improvement of 2.9%[3][4] - Basic and diluted loss per share was HKD 0.83, compared to HKD 0.73 in the previous year, indicating a worsening in per-share performance[3] - The company reported a total comprehensive loss of HKD 54,536,000 for the year, compared to HKD 64,763,000 in 2022, indicating an improvement of about 15.8%[4] - The group reported a net loss of approximately HKD 48.6 million for the year ending December 31, 2023[10] - The group reported a pre-tax loss of HKD 48,587,000 for the fiscal year, leading to an annual loss of HKD 48,590,000[23] - The group reported a basic loss per share of approximately HKD 49,386,000 for 2023, compared to HKD 43,588,000 in 2022, indicating an increase in losses[37] - The net loss for the year was approximately HKD 48,600,000, an increase of about HKD 1,400,000 from the previous year's net loss of HKD 47,200,000[54] Revenue Breakdown - Revenue from gas and oil product trading was HKD 0, down from HKD 149.955 million in the previous year[16] - Revenue from LED product supply and installation services was HKD 530, with no revenue reported in the previous year[16] - Total revenue for the group decreased to HKD 3.398 million from HKD 153.068 million year-on-year[16] - Revenue from external customers in China was HKD 3.398 million, while revenue from Hong Kong was HKD 0, down from HKD 149.955 million[19] - For the fiscal year ending December 31, 2023, total revenue from LED product supply and installation services was HKD 3,398,000, with a segment profit of HKD 101,000[23] - The financing lease and loan services generated revenue of HKD 2,868,000, resulting in a segment loss of HKD 3,325,000[23] - The financing leasing business recorded revenue of approximately HKD 2,900,000, a decrease of about 6% from HKD 3,100,000 in 2022[55] - The natural gas and oil products business recorded no revenue this year, down from HKD 150,000,000 in 2022[60] - The new subsidiary for LED product supply and installation services generated revenue of HKD 530,000 by the end of the year[61] Assets and Liabilities - Total assets decreased to HKD 1,348,996,000 from HKD 1,317,270,000, showing a slight increase of 2.4%[6] - Current liabilities increased to HKD 1,348,996,000 from HKD 1,317,270,000, indicating a rise of approximately 2.4%[6] - Non-current liabilities decreased significantly from HKD 1,988,000 to HKD 335,000, a reduction of about 83.2%[7] - The company's cash and bank balances decreased to HKD 20,657,000 from HKD 27,652,000, a decline of approximately 25.3%[6] - The company's equity attributable to owners decreased to HKD (653,385,000) from HKD (597,470,000), reflecting a decline of approximately 9.4%[7] - Total liabilities exceeded total assets by approximately HKD 730.6 million as of December 31, 2023[10] - The group's total borrowings amounted to approximately HKD 1,038.3 million, including loans from related companies and non-controlling shareholders[10] - The total assets of the group amounted to HKD 618,737,000, with total liabilities reaching HKD 1,349,331,000[25] - Total liabilities as of December 31, 2023, were approximately HKD 1,346,700,000, compared to HKD 1,316,600,000 in 2022[62] - The net debt was approximately HKD 1,326,000,000, with a capital debt ratio of 197.1%, up from 186.4% in 2022[62] Funding and Financial Support - The group is actively seeking additional funding sources to support its business development[11] - Major shareholder Xin Jing International Limited has committed to providing financial support through guarantees or loans within one year[12] - The group is in discussions with counterparties to renew existing loans[13] Employee and Operational Expenses - The group’s employee benefit expenses, excluding directors and CEO remuneration, decreased from HKD 7,778,000 in 2022 to HKD 4,088,000 in 2023, a reduction of approximately 47.5%[35] - The group had a total of 22 employees as of December 31, 2023, down from 24 in 2022, with employee costs for the year amounting to approximately HKD 4,100,000[65] - Administrative expenses for the year 2023 amounted to HKD 4,048,000, while financial expenses were HKD 4,522,000[95] Legal and Governance Issues - The group continues to face challenges due to legal issues in China and Hong Kong, impacting overall performance[51] - The independent auditor has refused to express an opinion on the consolidated financial statements for the year ended December 31, 2023, due to insufficient audit evidence[77] - The company has ongoing legal disputes with its joint ventures, which have affected its ability to access financial records necessary for consolidated financial statements[97] - The group submitted a lawsuit to the Putian Intermediate People's Court in May 2018 regarding the enforcement of a land development contract[81] - The group received a judgment from the Putian Court on June 10, 2020, rejecting the group's lawsuit[81] - The group filed an appeal to the Fujian High People's Court in June 2020, which was accepted in August 2020[81] - The appeal was dismissed by the Fujian High People's Court on May 30, 2022, and the group is currently seeking legal advice on the administrative decision[81] - The company initiated legal proceedings against its subsidiary for the provision of accounting records on September 20, 2023[92] - The court ordered the subsidiary to provide the required accounting records within 20 days after the judgment date, which has not yet been fulfilled[92] - The company is currently executing the court's decision to obtain the accounting records for the years ended December 31, 2023, and 2022[92] Audit and Financial Reporting - The group has not obtained sufficient appropriate audit evidence to support the recoverability of intangible assets reported as approximately HKD 0 for both 2023 and 2022[82] - The contract costs for the subsidiary China Aviation Fujian are reported as approximately HKD 290,065,000 and HKD 298,534,000 for 2023 and 2022 respectively, with uncertainties regarding their recoverability[84] - The group recognized an impairment loss of approximately HKD 26,700,000 related to a promissory note due to non-repayment by Kingfun Investment Limited[87] - The receivables from customers are reported as approximately HKD 18,050,000 and HKD 18,577,000 for 2023 and 2022 respectively, with uncertainties regarding their recoverability[89] - The group has not been able to obtain sufficient appropriate audit evidence to support the accuracy and completeness of accounts receivable as of December 31, 2023, and 2022[91] - Any adjustments to the figures mentioned may significantly impact the group's consolidated financial statements and cash flows for the years ending December 31, 2023, and December 31, 2022[99] - The audit committee has reviewed the group's annual performance for the year[101] - The consolidated financial statements have been recognized by the auditors as consistent with the audited financial amounts for the year[102] Corporate Governance - The company is committed to exploring new business opportunities and enhancing existing operations to improve financial performance and create shareholder value[71] - The company has adhered to the corporate governance code, although it has not issued formal appointment letters to directors[74] - The company emphasizes the importance of strong corporate governance to enhance enterprise value and protect shareholder interests[72] - The company has no significant acquisitions or disposals of subsidiaries, joint ventures, or major investments during the year[69] - The company has no assets pledged as collateral for bank loans[68] - The company has not repurchased, sold, or redeemed any of its listed securities during the year[70] Share Trading - Trading of the company's shares has been suspended since November 29, 2022, and will continue until further notice[104]

Financial Performance - Total revenue for the year ended December 31, 2022, was HKD 153,068,000, compared to HKD 3,189,000 in 2021, indicating a significant increase[3]. - Gross profit for the year was HKD 3,924,000, up from HKD 3,189,000 in the previous year, reflecting a growth in profitability[3]. - The company reported a net loss of HKD 47,164,000 for 2022, slightly improved from a loss of HKD 49,454,000 in 2021[4]. - Basic and diluted loss per share was HKD 0.73, compared to HKD 0.67 in the previous year[3]. - The company’s total comprehensive loss for the year was HKD 64,763,000, compared to HKD 42,203,000 in 2021, indicating increased overall losses[4]. - The adjusted pre-tax loss for the year was HKD 47,162,000, with a total annual loss of HKD 47,164,000[24]. - The group reported a basic loss per share of approximately HKD 43,588,000 for the year 2022, compared to HKD 39,859,000 for 2021[33]. - The net loss for the year was approximately HKD 47,200,000, a decrease of about HKD 2,300,000 from the previous year's net loss of HKD 49,500,000, mainly due to an increase in other income and gains of approximately HKD 3,200,000[45]. Revenue Sources - Revenue from the trading of natural gas and oil products was HKD 149.955 million, a significant increase from zero in the previous year[16]. - For the year ended December 31, 2022, total revenue was HKD 153,068,000, with natural gas and oil product trading contributing HKD 149,955,000 and financing lease and loan services contributing HKD 3,113,000[24]. - Revenue from external customers in Hong Kong was HKD 149.955 million, while revenue from China was HKD 3.113 million[18]. - Major customer A contributed HKD 105.16 million and customer B contributed HKD 44.795 million to the natural gas and oil products trading segment[19]. - The financing leasing business revenue decreased to approximately HKD 3,100,000, a decline of about 3% from HKD 3,200,000 in the previous year[47]. - The natural gas and oil products business generated total revenue of HKD 150,000,000, compared to no revenue in the previous year[49]. Assets and Liabilities - Total assets decreased to HKD 1,317,270,000 in 2022 from HKD 1,309,198,000 in 2021, indicating a slight decline in asset base[6]. - Current liabilities increased to HKD 1,317,270,000, compared to HKD 1,309,198,000 in the previous year, leading to a negative net current liabilities of HKD 782,849,000[6]. - Total liabilities exceeded total assets by approximately HKD 676.1 million as of December 31, 2022[10]. - The total borrowings amounted to approximately HKD 1,044.2 million, including loans from related parties and non-controlling shareholders[10]. - As of December 31, 2022, the total debt of the group was approximately HKD 1,316,600,000, compared to HKD 1,307,500,000 in the previous year, with a net debt of approximately HKD 1,288,900,000[51]. - The group's capital debt ratio was 186.4%, up from 171.9% in the previous year, indicating an increase in financial leverage[51]. Expenses - The company reported a significant increase in administrative expenses to HKD 18,810,000 from HKD 16,772,000 in 2021, impacting overall profitability[3]. - Financial expenses totaled HKD 43,877,000, down from HKD 55,629,000 in the previous year, primarily due to reduced interest on bank and other borrowings[29]. - The group’s employee benefit expenses, excluding directors and CEO remuneration, were HKD 7,778,000 in 2022, compared to HKD 8,621,000 in 2021[32]. - The group incurred an annual loss after deducting various expenses, including auditor fees of HKD 1,450,000 in 2022, up from HKD 1,350,000 in 2021[32]. - Administrative expenses amounted to HKD 4,048,000, while financial expenses were HKD 4,522,000[87]. - The total comprehensive expenses for the year reached HKD 7,495,000[87]. Legal and Compliance Issues - The independent auditor issued a disclaimer of opinion on the consolidated financial statements for the year ended December 31, 2022, due to insufficient and appropriate audit evidence[69]. - The company has not issued formal appointment letters to directors, which is a requirement under the corporate governance code[66]. - The group filed a lawsuit in May 2018 to enforce a land development contract, which was rejected by the Putian Intermediate People's Court in June 2020[72]. - The group appealed to the Fujian High People's Court, which accepted the case in August 2020, but the appeal was dismissed in May 2022[72]. - The company has faced challenges in auditing the financial statements due to insufficient supporting documents from its subsidiary[85]. - The company is actively pursuing strategies to enhance its financial reporting and compliance with legal requirements[84]. Future Outlook and Strategies - The company is actively seeking other funding sources to support its business development[12]. - The company has received a commitment from its major shareholder to provide financial support through guarantees or loans within one year[12]. - The company aims to explore new business opportunities and focus on sustainable development of existing operations to enhance financial performance and create shareholder value[63]. - The group is actively exploring various options and future opportunities to improve its business operations and financial condition, aiming to develop a feasible resumption plan[60]. Audit and Financial Reporting - The audit committee has reviewed the group's annual performance for the year[93]. - The consolidated financial statements have been approved by the auditors, confirming the figures are consistent with the audited financial statements[95]. - The company has not yet achieved the necessary documentation to verify the accuracy of accounts receivable as of December 31, 2022[85]. - The company has initiated legal proceedings to obtain accounting records from its subsidiary, which has not yet been provided[84]. - The company is currently executing a court ruling to acquire the accounting records for the years ending December 31, 2022, and 2023[84]. Joint Ventures - The investment in joint ventures as of December 31, 2022, is approximately HKD 94,718,000[91]. - The share of profits from joint ventures reported in the consolidated income statement is approximately HKD 7,598,000[91]. - The foreign exchange difference related to overseas business from joint ventures is approximately HKD 7,424,000[91]. - The receivable financing lease amount from joint ventures is approximately HKD 4,098,000[91]. - The financing lease income recognized in the consolidated income statement is approximately HKD 744,000[91]. - The total receivables from joint ventures amount to approximately HKD 104,702,000[91].

Financial Performance - For the six months ended June 30, 2022, the group's revenue was approximately HKD 1,708,000, a decrease of about 14.8% compared to HKD 2,004,000 in the same period last year[15]. - The net loss for the period was approximately HKD 19,296,000, a reduction from a net loss of HKD 45,013,000 in the previous year, primarily due to a decrease in financial expenses by approximately HKD 23,012,000[15]. - Revenue for the six months ended June 30, 2022, was HKD 1,708,000, a decrease of 14.7% compared to HKD 2,004,000 in the same period of 2021[51]. - The company reported a loss for the period of HKD 19,296,000, an improvement of 57.1% compared to a loss of HKD 45,013,000 in the previous year[53]. - The total comprehensive loss for the period was HKD 29,245,000, compared to HKD 42,542,000 in the previous year, showing a decrease of 31.2%[53]. - The group reported a total loss before tax for the six months ended June 30, 2022, was HKD 19,287,000, compared to a loss of HKD 45,003,000 in the same period of 2021, indicating an improvement of approximately 57.1%[74]. Business Operations - The financing leasing business recorded a revenue decrease to approximately HKD 1,708,000, attributed to a reduction in the number of ongoing projects[11]. - The group has not recorded any revenue from the LED EMC business, which is still in its initial stages[14]. - The group established a new subsidiary to conduct LED EMC business, which is currently in the early stages[14]. - The group plans to restart its PPP primary land development project, which is currently on hold due to regulatory changes[24]. - The group is actively seeking to resolve disputes with the Fuzhou government to potentially restart the suspended land development project[10]. - The group has signed a strategic cooperation agreement to provide yacht agency and related financing leasing services, aiming to expand its customer base[27]. - The group will restart its gas and oil product sales business starting August 2022, focusing on the Hong Kong market[28]. Financial Position - As of June 30, 2022, the total debt of the group was approximately HKD 1,323,500,000, an increase from HKD 1,307,500,000 as of December 31, 2021[16]. - Cash and bank balances increased to approximately HKD 39,200,000 from HKD 28,800,000 as of December 31, 2021[16]. - The net debt amounted to approximately HKD 1,284,300,000, compared to HKD 1,278,700,000 as of December 31, 2021[16]. - The capital debt ratio was 178.0%, up from 171.9% as of December 31, 2021[16]. - Total liabilities exceeded total assets by approximately HKD 640,600,000 as of June 30, 2022, indicating a significant financial leverage situation[66]. - The total borrowings of the group amounted to approximately HKD 1,072,600,000, with HKD 263,500,000 due within the next twelve months[66]. Governance and Compliance - The company has complied with the corporate governance code during the six months ending June 30, 2022, except for the separation of the roles of Chairman and CEO[39]. - Following the resignation of an independent non-executive director on August 3, 2022, the company now has only two independent non-executive directors, below the minimum required[42]. - The audit committee, consisting of two independent non-executive directors, reviewed the interim financial statements for the six months ending June 30, 2022, and found them compliant with applicable accounting standards[43]. - The company is actively seeking suitable candidates to fill the vacancy of CEO to comply with corporate governance standards[42]. Shareholder and Funding Support - The company’s major shareholders have committed to providing financial support through guarantees or loans for at least one year, ensuring liquidity for business development[71]. - The main shareholder will not require repayment of approximately HKD 809,137,000 in principal or any interest during the period from January 1, 2022, to December 31, 2023, providing ongoing financial support[104]. - The company is actively seeking additional funding sources and negotiating to renew existing loans with counterparties[71]. Cash Flow and Investments - Net cash generated from operating activities was HKD 8,929,000, significantly higher than HKD 3,442,000 in the prior year, reflecting an increase of about 159%[62]. - The company experienced a net increase in cash and cash equivalents of HKD 11,501,000 for the period, compared to a decrease of HKD 8,033,000 in the same period last year[62]. - The company confirmed the addition of right-of-use assets amounting to HKD 4,789,000 during the period, reflecting ongoing operational commitments[83]. - The company reported a significant increase in investments in joint ventures, rising to HKD 98,415,000 from HKD 94,544,000, an increase of 4.0%[55]. Stock and Securities - The company did not declare an interim dividend for the period, consistent with the previous year[18]. - The company did not purchase, sell, or redeem any of its listed securities during the reporting period[44]. - On September 7, 2022, the company received a notice from the Stock Exchange regarding the suspension of trading and potential cancellation of its listing status[46]. - The company has a correction period of 18 months to comply with the listing rules, failing which it risks delisting[46]. Accounts Receivable and Payable - As of June 30, 2022, the total accounts receivable amounted to HKD 55,763,000, a decrease from HKD 58,335,000 as of December 31, 2021, representing a decline of approximately 2.9%[89]. - The expected credit loss provision for accounts receivable was HKD 36,478,000, down from HKD 38,160,000, indicating a reduction of about 4.4%[89]. - The total value of accounts receivable overdue by more than 90 days was HKD 19,285,000, compared to HKD 20,175,000 as of December 31, 2021, reflecting a decrease of approximately 4.4%[92]. - The accounts payable over 120 days stood at HKD 7,736,000 as of June 30, 2022, compared to HKD 8,093,000 as of December 31, 2021, reflecting a decrease of approximately 4.4%[98].

Financial Performance - The group's consolidated revenue decreased from approximately HKD 5,900,000 in 2020 to approximately HKD 3,200,000 in 2021, representing a decline of 45.8%[10] - The net loss attributable to the company's owners for the year was approximately HKD 39,900,000, compared to a loss of approximately HKD 85,600,000 in 2020[6] - The group's net loss for the year was approximately HKD 49,500,000, a reduction of approximately HKD 139,200,000 from the previous year's loss of approximately HKD 188,700,000[11] - The financing leasing and loan services, as well as property investment business, recorded total revenue of approximately HKD 3,200,000, a decrease of about 45.8% due to reduced project numbers[12] - The loss from the PPP primary land development business decreased to approximately HKD 18,600,000, down from approximately HKD 241,500,000 in 2020, primarily due to no impairment losses recorded this year[14] Debt and Cash Position - The total debt of the group as of December 31, 2021, was approximately HKD 1,307,500,000, an increase from HKD 1,268,800,000 in 2020[19] - Cash and bank balances were approximately HKD 28,800,000, down from HKD 39,700,000 in 2020[19] - The net debt amounted to approximately HKD 1,278,700,000, compared to HKD 1,229,100,000 in 2020[19] - The capital-to-debt ratio was 171.9%, slightly up from 169.0% in 2020[19] Corporate Governance - The board did not recommend the payment of a final dividend for the year[21] - The company has maintained compliance with relevant laws and regulations without any significant breaches reported during the year[57] - The board consists of six directors, including three executive directors and three independent non-executive directors[101] - The company has complied with the Corporate Governance Code, except for certain provisions regarding the separation of roles between the chairman and CEO[98] - The board has established clear responsibilities for management and regularly reviews these to ensure compliance with regulations[104] Employee and Training - The total employee cost for the year was approximately HKD 8,600,000, compared to HKD 8,000,000 in 2020[22] - The company actively encourages and funds employees to participate in external relevant skills training courses and seminars to enhance their capabilities[58] - The average training hours for male employees was 10.00 hours, while for female employees it was 30.93 hours during the reporting period[194] - The percentage of employees receiving training was 21.43% for males and 46.67% for females in 2021[194] Legal and Compliance Issues - The group is currently awaiting a hearing notice regarding an appeal submitted to the High People's Court in June 2020[28] - The group has initiated mediation with the Fuzhou City Government regarding a dispute related to a land development project[28] - The company has recognized a provision for impairment of approximately HKD 26.7 million, which is 30% of the total book value of HKD 89 million for the receivable notes[36] - The audit committee has reviewed the basis for the audit qualifications and agrees with the auditors' concerns regarding the recoverability of receivables[40] Environmental, Social, and Governance (ESG) - The company’s environmental, social, and governance (ESG) report is aligned with the guidelines set by the stock exchange, reflecting its commitment to sustainability[56] - The company reported a focus on environmental, social, and governance (ESG) policies, aiming to balance business expansion with stakeholder interests[147] - The company has set multiple environmental and social key performance indicators (KPIs) to reduce greenhouse gas emissions and improve employee welfare[154] - The company emphasizes energy conservation and compliance with environmental regulations to reduce pollution and environmental risks[168] Customer Relations - The group emphasizes customer satisfaction as crucial for sustainable development and long-term business growth, adhering to core values of strictness, regulation, prudence, integrity, and innovation[198] - No complaints regarding service were received during the reporting period, indicating a strong focus on customer service quality[198] - The group maintains strict confidentiality of customer data, ensuring no unauthorized disclosure to third parties[198] Shareholder Information - The company reported that the total number of issued shares as of December 31, 2021, was 5,943,745,741 shares, with no new shares issued compared to December 31, 2020[66] - The board does not recommend the payment of a final dividend for the year, consistent with the previous year where no dividend was paid[60] - The company has no available reserves for distribution as of December 31, 2021, according to the Companies Ordinance[68]

Financial Performance - The group's revenue for the six months ended June 30, 2021, was approximately HKD 2,004,000, a decrease of about 39.0% compared to HKD 3,285,000 in the same period last year[3] - The net loss for the period was approximately HKD 45,013,000, a reduction from a net loss of approximately HKD 161,113,000 in the previous year, primarily due to the absence of impairment losses recorded in the current period[3] - Revenue from leasing for the six months ended June 30, 2021, was HKD 2,004,000, a decrease of 39% compared to HKD 3,285,000 in 2020[38] - Other income, gains, and losses for the same period were HKD 1,557,000, down 84% from HKD 9,716,000 in 2020[38] - The loss attributable to the company’s owners for the period was HKD (36,821,000), compared to HKD (74,196,000) in the previous year, indicating a 50% improvement[38] - Total comprehensive loss for the period was HKD (42,542,000), significantly reduced from HKD (201,854,000) in 2020[40] - The company reported a basic and diluted loss per share of HKD 0.62 cents, compared to HKD 1.25 cents in the previous year, reflecting a 50% reduction in loss per share[38] - The company reported a pre-tax loss of HKD 45,003,000 for the six months ended June 30, 2021, compared to a loss of HKD 215,876,000 for the same period in 2020, indicating an improvement of approximately 79%[47] - The group reported a net loss of approximately HKD 45,000,000 for the six months ended June 30, 2021, with total liabilities exceeding total assets by approximately HKD 544,000,000[53] Debt and Liabilities - The total debt as of June 30, 2021, was approximately HKD 1,231,000,000, down from HKD 1,268,800,000 as of December 31, 2020[10] - The net debt amounted to approximately HKD 1,199,900,000, compared to HKD 1,229,100,000 as of December 31, 2020[10] - The capital-to-debt ratio was 166.9% as of June 30, 2021, slightly improved from 169.0% as of December 31, 2020[10] - Current liabilities decreased to HKD 314,140,000 from HKD 1,252,628,000, indicating a significant reduction in financial obligations[42] - Total borrowings amounted to approximately HKD 1,048,000,000, with around HKD 265,000,000 due for repayment within the next twelve months[53] - Major shareholders have committed to providing financial support through guarantees or loans for one year, contingent on the company's shares continuing to trade on the stock exchange[54] - The group is actively seeking alternative sources of funding and negotiating to renew existing loans with counterparties[60] Business Operations - The group did not record any revenue from the PPP primary land development business during the period, maintaining the same status as the previous year[5] - The group established a new subsidiary, Zhejiang Yaohui Energy-saving Technology Co., Ltd., to engage in LED EMC business, although no revenue has been recorded yet[6] - The group plans to support the development of LED EMC business to create stable revenue sources in the coming years[9] - The group is actively seeking new business investment opportunities while optimizing its asset allocation by divesting from underperforming gas and property businesses[8] Employee and Shareholder Information - The group has 28 employees as of June 30, 2021, down from 32 employees in the previous year, with employee costs remaining at approximately HKD 4,000,000[16] - As of June 30, 2021, the total number of issued shares was 5,943,745,741[22] - Mr. Chan Han Wai holds 798,214,445 shares, representing 13.43% of the total issued shares[22] - The agreement between Xin Jing International Limited and Mr. Chan was established on April 9, 2021, for the transfer of 50% equity interest, amounting to 798,214,445 shares[23] - No major shareholders or other individuals, apart from directors and senior management, were reported to have interests in the company's shares as of June 30, 2021[29] - The company aims to attract and retain talented individuals through its share option plan, which has a validity period of ten years from its adoption date[25] Corporate Governance - The company has adopted the Corporate Governance Code and confirmed compliance with its provisions during the reporting period, with some deviations noted[32] - The Audit Committee, composed of three independent non-executive directors, reviewed the interim financial statements for the six months ending June 30, 2021[35] - The company is committed to high standards of corporate governance to enhance shareholder value and protect shareholder interests[32] Cash Flow and Financial Position - Operating cash flow before changes in working capital was HKD (6,241,000) for the first half of 2021, a significant decrease from HKD 4,549,000 in the same period of 2020[47] - The company recorded a net cash outflow from financing activities of HKD (11,625,000) for the six months ended June 30, 2021, compared to HKD (327,020,000) in the previous year, reflecting a reduction in financing costs[49] - The total cash and cash equivalents at the end of June 30, 2021, were HKD 31,080,000, down from HKD 114,348,000 at the end of June 30, 2020, representing a decrease of approximately 73%[49] - The company’s total equity attributable to owners decreased to HKD (480,769,000) as of June 30, 2021, from HKD (501,983,000) at the beginning of the year, showing a slight improvement[45] - The company recognized a foreign exchange gain of HKD 2,362,000 during the period, contributing positively to the overall financial performance[47] Impairments and Provisions - The expected credit loss impairment was HKD (1,381,000), with no prior year figure reported[38] - The group recognized an additional impairment of HKD 225,000,000 for intangible assets during the six months ended June 30, 2020, bringing the total impairment to HKD 964,000,000 as of June 30, 2021[77] - The provision for expected credit losses on accounts receivable was HKD 37,475,000 as of June 30, 2021, compared to HKD 37,130,000 as of December 31, 2020[78] Other Financial Metrics - Administrative expenses decreased to HKD (9,204,000), a reduction of 30% from HKD (13,229,000) in 2020[38] - Financial expenses totaled HKD 44,967,000 for the six months ended June 30, 2021, compared to HKD 39,428,000 in the same period of 2020[66] - The group did not recognize any tax provision for Hong Kong profits tax due to no taxable profits generated during the period[67] - The group is expected to have sufficient operating funds to meet its current requirements for at least the next twelve months[57]

Financial Performance - The group's consolidated revenue for the year was approximately HKD 5,900,000, a decrease of about 90.5% from HKD 62,400,000 in the previous year[7]. - The net loss attributable to the company's owners for the year was approximately HKD 85,600,000, compared to a loss of HKD 440,800,000 in the previous year, reflecting a significant reduction in losses[7]. - The group's financing leasing and loan services recorded total revenue of approximately HKD 5,900,000, down approximately 61.9% from HKD 15,500,000 in the previous year[15]. - The group completed the sale of its remaining gas business, resulting in no revenue from gas operations for the year, compared to HKD 46,900,000 in the previous year[14]. - The loss from the PPP primary land development business decreased to approximately HKD 241,500,000 in the current year, compared to HKD 364,500,000 in 2019, primarily due to a reduction in impairment provisions for intangible assets[16]. - The group reported a net loss of approximately HKD 188.7 million for the year ended December 31, 2020[196]. - As of December 31, 2020, the group's net liabilities amounted to approximately HKD 569.1 million, indicating significant uncertainty regarding the group's ability to continue as a going concern[196]. Debt and Financial Management - As of December 31, 2020, the total debt of the group was approximately HKD 1,268,800,000, down from HKD 2,813,700,000 in 2019, while cash and bank balances increased to approximately HKD 39,700,000 from HKD 33,100,000 in 2019[20]. - The net debt amounted to approximately HKD 1,229,100,000, a decrease from HKD 2,780,600,000 in 2019, resulting in a capital debt ratio of 169.0%, up from 115.9% in 2019[20]. - The group expects to maintain a prudent financial management approach to navigate the ongoing impacts of COVID-19 and other uncertainties in the global economy[9]. - The board did not recommend the payment of a final dividend for the year, consistent with the previous year[22]. Impairment and Receivables - The group recorded a decrease in impairment losses on intangible assets by approximately HKD 90,200,000 compared to the previous year[13]. - The company recognized an impairment of intangible assets valued at approximately HKD 225 million due to ongoing litigation uncertainties, with a related deferred tax liability of about HKD 56.3 million being eliminated after the impairment[34]. - The auditor was unable to obtain sufficient appropriate audit evidence regarding contract costs amounting to approximately HKD 315.45 million[192]. - Accounts receivable were reported at approximately HKD 19.63 million, with concerns about their recoverability[195]. Corporate Governance - The board consists of seven directors, including four executive directors and three independent non-executive directors[99]. - The company has adopted a share option scheme on June 25, 2015, to attract and retain valuable talent[84]. - The board has established three board committees: Audit Committee, Remuneration Committee, and Nomination Committee, each with clearly defined responsibilities to assist the board in fulfilling its duties[115]. - The Audit Committee, consisting of three independent non-executive directors, held two meetings during the year to review financial reporting matters and ensure compliance with accounting standards[116]. - The company has reviewed its corporate governance policies and practices during the year[104]. Risk Management - The company has established a risk management and internal control system to identify and manage significant risks to achieve operational goals[130]. - The board believes that the risk management and internal control systems are adequate and effective for the year[133]. - The company has appointed an independent professional advisor to assist in evaluating the risk management and internal control systems[131]. Environmental and Social Responsibility - The company reported a significant reduction in gasoline usage by approximately 4,225.46 liters or 31.21%, totaling around 9,313.06 liters for the year[158]. - Electricity consumption decreased dramatically by about 556.22 MWh or 97.43%, with total usage at approximately 14.65 MWh[159]. - The company has implemented various energy-saving measures to enhance efficiency and reduce environmental impact, focusing on employee awareness and resource management[153]. - The company aims to balance operational growth with environmental protection, continuously assessing and managing its carbon footprint[163]. - The group adheres to labor laws and regulations, strictly prohibiting child labor and forced labor, with no violations reported during the reporting period[167]. Employee Welfare and Development - The group has reduced its workforce to 29 employees, with employee costs amounting to approximately HKD 8,000,000, down from HKD 15,400,000 in 2019[23]. - Employee training and promotion opportunities are emphasized to attract and retain talent, fostering a respectful and safe work environment[165]. - The group encourages continuous learning and development among employees, offering on-the-job training and external online training programs[171]. - The group has not reduced employee salaries or benefits due to the COVID-19 pandemic, ensuring employee welfare during challenging times[170]. Stakeholder Engagement - The company has maintained long-term good relationships with stakeholders, including shareholders, suppliers, and business partners[60]. - The company emphasizes the importance of maintaining good communication with shareholders through various formal channels[136]. - The company has engaged with stakeholders, including government, investors, employees, and customers, to align on sustainability goals and expectations[147].

Financial Performance - The group's revenue for the six months ended June 30, 2020, was HKD 3,285,000, a decrease of 91.1% compared to HKD 36,814,000 in the same period last year[4]. - The gross profit for the same period was HKD 3,285,000, down 76.6% from HKD 14,025,000, with a gross margin increase from 38.1% to 100% due to net income recognition in the financing leasing business[4]. - The net loss for the period was HKD 161,113,000, compared to a net loss of HKD 73,263,000 in the previous year, primarily due to impairment losses of HKD 225,000,000 related to PPP project assets[4]. - The financing leasing and loan services, along with property investment, generated revenue of HKD 3,285,000, slightly down from HKD 3,969,000 in the previous year[6]. - The group recorded a significant loss of approximately HKD 190,000,000 from the sale of commercial property in Shanghai, despite the loss helping to alleviate long-term operational burdens[6]. - The loss in the PPP land development business increased to approximately HKD 228,743,000, compared to about HKD 2,534,000 in the previous year, due to impairment of intangible assets[8]. - The company reported a loss before tax of HKD 215,876,000, compared to a loss of HKD 72,084,000 in the same period of 2019, representing an increase in loss of 199.5%[43]. - Total comprehensive loss for the period was HKD 201,854,000, compared to HKD 82,373,000 in 2019, indicating a rise of 144.5%[44]. - The company reported a net loss of approximately HKD 161 million for the six months ended June 30, 2020[59]. - The company's adjusted loss before tax was HKD 215.9 million for the six months ended June 30, 2020, compared to HKD 72.2 million in the same period of 2019[67]. Financial Position - Total debt as of June 30, 2020, was HKD 1,352,000,000, down from HKD 1,603,000,000 at the end of 2019, with net debt at HKD 1,238,000,000[12]. - The capital debt ratio increased to 167.1% from 132.1% at the end of 2019, indicating a higher level of financial leverage[12]. - The company's non-current assets decreased to HKD 111,897,000 from HKD 359,255,000, a decline of 68.8%[46]. - Current assets totaled HKD 697,041,000, down from HKD 2,166,860,000, reflecting a decrease of 67.8%[46]. - The total equity attributable to owners of the company decreased to HKD (496,816,000) as of June 30, 2020, from HKD (381,879,000) at the beginning of the year[51]. - Total liabilities exceeded total assets by approximately HKD 548 million as of June 30, 2020[59]. - The total borrowings amounted to approximately HKD 1,199 million, with HKD 263 million from banks and other borrowings, and HKD 838 million from related companies and joint ventures[59]. Cash Flow and Investments - Cash and cash equivalents increased to HKD 114,348,000 from HKD 33,051,000, showing a growth of 245.5%[46]. - The company reported a net cash inflow from investing activities of HKD 386,995,000, a significant increase compared to a net outflow of HKD 37,000 in the previous year[51]. - Cash generated from operating activities was HKD 36,708,000, an increase from HKD 15,906,000 in the previous year, reflecting a growth of approximately 130%[51]. - The company completed the sale of its entire equity interest in Shanghai Shangju Industrial Co., Ltd. for approximately HKD 367,341,000, which was finalized on March 30, 2020[56]. Employee and Management Information - As of June 30, 2020, the group had a total of 32 employees, a decrease from 127 employees in 2019, with employee costs amounting to HKD 4,000,000 compared to HKD 8,300,000 in 2019[17]. - The total remuneration for key management personnel was HKD 343,000, a decrease from HKD 422,000 in the previous year[109]. - The group continues to provide employee compensation based on market practices, experience, professional qualifications, and performance, with no significant changes in employee compensation policies during the period[17]. - The group encourages and funds employees to participate in work-related training and seminars to enhance their contributions to the group's ongoing development[18]. Corporate Governance and Compliance - The company has complied with all applicable provisions of the Corporate Governance Code, except for certain deviations regarding the roles of the Chairman and CEO[36]. - Non-executive directors are required to retire and seek re-election at least once every three years, although they do not have a specified term of appointment[37]. - The company has adopted the standard code of conduct for securities transactions by directors, confirming compliance during the reporting period[38]. Impairment and Losses - The company recognized an impairment loss of HKD 225,000,000 on intangible assets during the period[43]. - The company has recognized an additional impairment of HKD 225,000,000 in the profit and loss statement due to ongoing legal disputes with the Fuzhou government[89]. - The group recognized an impairment provision of HKD 3,876,000 due to delays in repayments from significant debtors, while HKD 3,809,000 was reversed from other receivables[71]. Shareholder Information - As of June 30, 2020, the total number of issued shares was 5,943,745,741, with the largest shareholder, China Aviation Industry International (Hong Kong), holding 1,596,428,891 shares, representing 26.86%[29]. - Billirich Investment Limited holds 1,031,595,000 shares, representing 17.36% of the issued shares[29]. - The company transferred a total of 1,596,428,891 shares to Xin Jing International Limited on September 18, 2020[32]. - The issued share capital remained at HKD 2,234,815,000 with 5,943,745,741 ordinary shares as of June 30, 2020[104]. Legal and Regulatory Matters - The group has suspended the development of a PPP project due to changes in domestic laws and government attitudes, complicating the project's restart[10]. - The company has taken legal action to appeal a court ruling regarding the investment construction cooperation agreement, but the outcome remains uncertain[89].

Financial Performance - The company's consolidated revenue decreased from approximately HKD 139.8 million in 2018 to about HKD 62.4 million in 2019, a decline of approximately 55.2%[5] - The net loss attributable to the company's owners for the year was approximately HKD 440.8 million, compared to a loss of HKD 517.1 million in 2018, representing a reduction of about 14.7%[5] - The company's gross profit for the year was approximately HKD 32.2 million, a decrease of 27.1% from HKD 44.2 million in 2018[12] - The company reported a net loss of HKD 584,965,000 for the year 2019, compared to a loss of HKD 696,483,000 in 2018, indicating an improvement of 16%[187] - The total comprehensive loss for the year was HKD 609,011,000, down from HKD 783,737,000 in 2018, marking a 22.3% improvement[187] - The company incurred an impairment loss on intangible assets amounting to HKD 315,184,000, compared to HKD 423,816,000 in 2018, reflecting a reduction of 25.7%[186] - The financial costs for the year were HKD 133,021,000, slightly up from HKD 127,799,000 in 2018, reflecting an increase of 4.1%[186] Business Operations - The financing leasing business of the subsidiary, Guangdong Ziyutai Financing Leasing Co., Ltd., recorded revenue of approximately HKD 15.5 million, an increase of about HKD 4.4 million or 39.6% compared to HKD 11.1 million in 2018[6] - The gas business's total revenue fell to HKD 46.9 million in 2019, down 63.6% from HKD 128.8 million in 2018, following the completion of the exit strategy from the gas business[13] - The company has completed the sale of its remaining gas business, which was part of its ongoing restructuring plan initiated in late 2014[13] - The group plans to sell its commercial property in Shanghai, expecting a loss of approximately HKD 190,000,000, but aims to reduce long-term operational burdens and improve overall asset and liability status[14] - The group disposed of its remaining gas business and sold commercial properties to increase liquidity and reduce financial pressure[16] Financial Position - Total debt as of December 31, 2019, was approximately HKD 2,813,700,000, an increase from HKD 2,674,200,000 in 2018, with net debt reaching approximately HKD 2,780,600,000[18] - The capital debt ratio increased to 115.9% from 97% in 2018, indicating a significant rise in financial leverage[18] - The company reported a significant increase in receivables from finance leases, rising from HKD 22,340,000 in 2018 to HKD 49,253,000 in 2019, an increase of about 120.5%[189] - Total liabilities exceeded total assets by approximately HKD 346,500,000 as of December 31, 2019, indicating a concerning financial position[197] - The total borrowings amounted to approximately HKD 2,673,300,000, with HKD 312,000,000 classified as bank and other borrowings due within the next twelve months[197] Corporate Governance - The company is committed to high standards of corporate governance, which is deemed essential for enhancing corporate value and protecting shareholder interests[75] - The company has complied with the applicable code provisions of the Corporate Governance Code during the year, with some deviations noted[76] - The board consists of seven directors, including four executive directors and three independent non-executive directors[78] - The company has established a code of conduct and compliance manual applicable to employees and directors[85] - The board will continue to review its current structure and appoint suitable candidates for the roles of CEO and chairman as needed[92] Environmental and Social Responsibility - The company has implemented various energy-saving measures, including the installation of motion sensors to turn off lights in unoccupied areas[133] - The company has established a vehicle management policy to control daily vehicle usage, requiring prior approval for vehicle use[133] - The company has implemented measures to reduce emissions, resulting in a decrease of V% compared to the previous year[165] - The company has established policies for managing environmental and social risks in its supply chain[165] - The company is committed to community engagement to understand and address the needs of the communities in which it operates[167] Employee Management - The company actively encourages and funds employees to participate in external relevant skills courses and seminars to enhance their capabilities[41] - Employee training and development programs were emphasized to enhance employee quality and efficiency, ensuring new hires quickly adapt to the company culture[149] - The company established a competitive compensation system based on industry benchmarks, ensuring fair and reasonable employee remuneration[148] - The company has implemented strict health and safety policies to prevent workplace injuries and ensure a safe working environment[150] Future Outlook - The company plans to continue seeking methods to improve resource allocation efficiency and strengthen capital structure while looking for potential acquisitions and business opportunities[8] - The company remains optimistic about the development of the Chinese economy despite the impact of the COVID-19 pandemic on its domestic operations[7] - The company is actively seeking alternative funding sources to improve liquidity and has assessed that it will have sufficient working capital for at least the next twelve months[198]

Financial Performance - The group's revenue for the six months ended June 30, 2019, was HKD 36,814,000, a decrease of 47.4% compared to HKD 70,015,000 in the same period last year[3]. - The gross profit for the same period was HKD 14,025,000, down 32.0% from HKD 20,632,000, with a gross margin increase from 29.5% to 38.1%[3]. - The net loss for the period was HKD 73,263,000, reduced from a net loss of HKD 125,065,000 in the previous year[4]. - Revenue from the gas business decreased to HKD 32,845,000, a decline of 49.2% from HKD 64,608,000, due to a drop in CNG sales from 16,926,000 cubic meters to 11,022,000 cubic meters[6]. - Financing leasing and loan services revenue slightly decreased to HKD 3,969,000 from HKD 5,407,000, primarily due to reduced interest income[7]. - The company reported a loss for the period of HKD 73,263,000, an improvement of 41.5% compared to a loss of HKD 125,065,000 in 2018[49]. - Basic and diluted loss per share was HKD (1.17) cents, compared to HKD (1.76) cents in the previous year[48]. - The group reported a loss before tax of HKD 69,681,000, compared to a loss of HKD 104,550,000 in the same period of 2018[116]. - The group recognized a net impairment loss of HKD 1,244,000 for receivables, significantly reduced from HKD 33,153,000 in the previous year[106]. - The group reported a total comprehensive loss of HKD 78,794,000 for the six months ended June 30, 2019, compared to a total comprehensive loss of HKD 159,012,000 in 2018[60]. Debt and Liabilities - The total debt as of June 30, 2019, was HKD 2,714,500,000, an increase from HKD 2,674,200,000 at the end of 2018, with a net debt of HKD 2,676,000,000[11]. - The capital debt ratio was 99.9% as of June 30, 2019, compared to 97.0% at the end of 2018[11]. - Current liabilities increased to HKD 608,743,000 from HKD 608,109,000 at the end of 2018[53]. - The company’s total liabilities amounted to HKD 2,857,791,000 as of June 30, 2019, compared to HKD 2,813,698,000 at the end of 2018[53]. - The group’s total liabilities included lease liabilities of HKD 3,662,000 classified as current and HKD 2,426,000 classified as non-current as of January 1, 2019[94]. Shareholder Information - The company’s major shareholders include Billirich Investment Limited and AVIC Joy Air Holdings Limited, each holding 17.36% and 1.02% of the issued shares respectively[30]. - The company’s total issued shares as of June 30, 2019, were 5,943,745,741[23]. - The total issued and paid-up share capital was HKD 2,234,815,000, with 5,943,745,741 ordinary shares as of June 30, 2019[138]. - The company is owned approximately 76.82% by AVIC, which is a significant shareholder[33]. Employee Information - The company had a total of 127 employees as of June 30, 2019, down from 355 in 2018, with employee costs amounting to HKD 8,300,000 compared to HKD 16,800,000 in the previous year[18]. - The company’s employee compensation and promotion policies are based on individual performance, experience, and market practices[19]. - The company encourages employees to participate in training and seminars to enhance their contributions and promote sustainable development[19]. Corporate Governance - The audit committee, composed entirely of independent non-executive directors, reviewed the interim financial statements for the six months ended June 30, 2019, and found them compliant with applicable accounting standards and regulations[37]. - The company has adopted the corporate governance code and confirmed compliance with its provisions during the review period, with some exceptions noted[35]. - The company’s chairman and CEO roles are held by the same individual, which is a deviation from the corporate governance code[35]. - The company’s non-executive directors are subject to rotation and re-election every three years, although they do not have a specified term of appointment[35]. - The company has confirmed adherence to the standard code regarding securities trading by directors during the review period[36]. Financial Reporting Standards - The company has adopted the new Hong Kong Financial Reporting Standard No. 16 (HKFRS 16) for leases, replacing HKAS 17, which has resulted in significant changes to accounting policies[65]. - The application of HKFRS 16 did not have a significant impact on the group's consolidated financial statements for the six months ended June 30, 2019[96]. - The group’s non-current assets included a right-of-use asset valued at HKD 12,807,000 as of January 1, 2019, following the adoption of HKFRS 16[94]. - The group recognized additional lease liabilities and right-of-use assets equivalent to the adjustments made for any prepaid or accrued lease payments[87]. Operational Insights - The company plans to continue restructuring its gas business and explore opportunities in the financing leasing sector due to favorable government policies[10]. - The company has been actively managing its LED energy management contracts and CNG refueling stations in China, indicating ongoing market expansion efforts[60]. - The group operates four reportable segments, including CNG and gasoline sales, LED EMC management, financing lease and loan services, and land development services[97]. - The group’s primary operations and market are located in China, with no further geographical segment information provided[99]. Miscellaneous - The company does not recommend the distribution of an interim dividend for the six months ended June 30, 2019[13]. - The company did not purchase, sell, or redeem any of its listed securities during the review period[34]. - The company has not reported any new product launches or technological advancements during this period[60]. - The group did not initiate any new sale and leaseback arrangements during the period, resulting in no significant impact on the financial statements from the application of HKFRS 16[92].

Financial Performance - The group's consolidated revenue decreased from approximately HKD 252.6 million in 2017 to about HKD 139.8 million in 2018, a decline of approximately 44.6%[4] - The group's net loss for the year was approximately HKD 696.5 million, an increase of about HKD 378.1 million compared to the net loss of approximately HKD 318.4 million in 2017[10] - The group's gross profit for the year was approximately HKD 44.2 million, down 29% from HKD 62.1 million in 2017[10] - The financing leasing and loan services segment reported total revenue of approximately HKD 11.1 million in 2018, a decrease of 34% from HKD 16.8 million in 2017[12] - The group recorded a fair value loss on investment properties of approximately HKD 245.9 million during the year[10] - The group achieved a segment profit of approximately HKD 38.5 million in the gas business, compared to a loss of approximately HKD 66.2 million in 2017[11] - The group reported a significant impairment loss on intangible assets amounting to HKD 423,816,000 in 2018, with no such loss reported in 2017[191] - The company reported a pre-tax loss of HKD 801,112,000 for the year ended December 31, 2018, compared to a loss of HKD 310,186,000 in 2017, indicating a significant increase in losses[200] Business Segments - The gas business segment recorded total revenue of approximately HKD 128.8 million in 2018, down 17% from HKD 156 million in 2017, primarily due to reduced sales volume of compressed natural gas (CNG) to about 37.5 million cubic meters[11] - The group has suspended its building materials sales business to mitigate risks due to low gross margins[6] - The group's sales revenue from building materials business was suspended due to low gross margins, resulting in a loss of approximately HKD 464.5 million in the current year, compared to HKD 57.8 million in 2017[13] - The group plans to optimize and restructure its remaining gas business and seek suitable opportunities to realize its value due to increasing competition in the gas industry[15] - The group intends to focus on the development of medical equipment leasing business, capitalizing on the potential growth in the financing leasing industry[15] Debt and Capital Structure - The total debt of the group as of December 31, 2018, was approximately HKD 2,674.2 million, a decrease from HKD 2,748.9 million in 2017, with a net debt of about HKD 2,633.7 million[17] - The capital debt ratio increased to 97% in 2018 from 80% in 2017, indicating a significant rise in leverage[17] - The company's net assets dropped significantly to HKD 275,436,000 in 2018 from HKD 1,065,096,000 in 2017, a decrease of 74.1%[196] Employee and Training - As of December 31, 2018, the group had a total of 131 employees, a decrease from 343 employees in 2017, with employee costs amounting to HKD 28 million compared to HKD 47 million in 2017[26] - The group actively encourages and funds employee participation in work-related training and seminars as part of its welfare and reward programs, aiming to foster lifelong learning and sustainable development[27] - The company has a training program aimed at enhancing employees' knowledge and skills related to their job responsibilities[170] Corporate Governance - The board consists of eight directors, including five executive directors and three independent non-executive directors[81] - The board's main responsibilities include determining overall strategic planning, policy formulation, and risk management[82] - The company has established three board committees: Audit Committee, Remuneration Committee, and Nomination Committee, each with clearly defined responsibilities to assist the board in fulfilling its duties[96] - The company has a public float of at least 25% of its issued shares as of the report date[71] - The company has established a shareholder communication policy, reviewed annually, to address any inquiries from shareholders[121] Environmental and Social Responsibility - The group emphasizes its commitment to sustainable development and environmental protection, implementing various policies and actions to manage energy use and waste generation[133] - The environmental, social, and governance report outlines the group's sustainability strategy and performance, focusing on corporate social responsibility[125] - The group generated 1,620.72 tons of CO2 equivalent emissions during the reporting period, a reduction of approximately 30% compared to the previous year, primarily due to the sale of the gas business[140] - The group has established a corporate culture focused on resource conservation and encourages employees to adopt resource-saving habits[136] - The company actively engages in community investment by providing employment opportunities and contributing to local social stability[163] Audit and Compliance - The independent auditor confirmed that the financial statements fairly reflect the company's financial position as of December 31, 2018[173] - The auditor's responsibilities include identifying and assessing risks of material misstatement and designing audit procedures to address those risks[187] - The company must assess its ability to continue as a going concern and disclose any relevant matters related to this assessment[184] - The company replaced its auditor from Ernst & Young to Deloitte on November 7, 2018, to enhance auditor independence[76] Future Plans and Strategies - The group plans to actively communicate with local governments in 2019 to promote the development of the PPP land project, which has a total of 3,990 acres available for commercial and residential use[6] - The group aims to improve resource allocation efficiency and strengthen capital structure while seeking potential acquisitions and business opportunities to enhance shareholder value in 2019[6]