智通财经5月14日电，上期能源：郑××（02104202）组（账户组号: B6003315）5月14日在集运指数（欧 线）期货（EC）2508合约上账户组日内开仓交易量超限第3次达到处理标准，决定对相关客户采取限制 其在相应合约上开仓2个月的监管措施；薛××（03897390）组（账户组号: B6002616）5月14日在集运指 数（欧线）期货（EC）2510合约上账户组日内开仓交易量超限第1次达到处理标准，决定对相关客户采 取限制其在相应合约上开仓5个交易日的监管措施。 ...

Financial Performance - The group recorded revenue of approximately HKD 57,000,000 for the year ending December 31, 2024, a decrease of about 27.2% compared to approximately HKD 78,400,000 in 2023[5] - The loss attributable to equity holders of the company for the year was approximately HKD 55,800,000, a reduction of about 43.3% from approximately HKD 98,400,000 in the previous year[5] - The group's revenue decreased by approximately 27.2% from about HKD 78,400,000 in the previous year to about HKD 57,000,000 in the current period[31] - The group's gross loss decreased from approximately HKD 4,600,000 to about HKD 3,300,000, with a gross loss margin of about 5.75%[36] - The group recorded a loss of approximately HKD 70,200,000, an improvement from a loss of about HKD 100,800,000 in the previous year[41] Real Estate Business - The real estate business has sold approximately 95% of the total construction area of the "Zhi Di New City" project, which covers an area of 69,117 square meters and includes 2,132 residential units[7] - The "Yiyun Mountain Villa" project has sold about 87% of its residential units and 100% of its shops and parking spaces, with a total construction area of 126,000 square meters[8] - The "Zhi Di New City" project has a total construction area of approximately 212,000 square meters, completed in 2013[7] - The "Zhong Jian Jun Residence" project is planned to have a total construction area of approximately 168,000 square meters, with ongoing development[9] - For 2025, the real estate business is expected to improve sales due to increased government support for the real estate sector in China[15] Financial Services - The financial services segment recorded revenue of approximately HKD 6,900,000, an increase from approximately HKD 5,900,000 in the previous year[11] - The company aims to expand its financial services, including real estate mortgages and luxury financing[11] - Financial services revenue increased to approximately HKD 6,900,000 from HKD 5,900,000 in the previous year[32] - The net proceeds from the placement were approximately HKD 15.65 million, intended for general working capital and expanding financial services[66] Restaurant Business - The restaurant business generated revenue of approximately HKD 27,500,000, a decrease from HKD 36,500,000 in the same period last year[14] - The company has implemented strict internal quality control standards to ensure food safety and hygiene, with no reported complaints regarding service or product quality during the reporting period[198] - The company has established a customer service center to handle feedback and complaints related to real estate and services, ensuring high customer satisfaction[198] - Policies and procedures are in place to address customer complaints promptly, ensuring customer satisfaction with food quality and service[200] Corporate Governance - The board of directors held a total of seven meetings during the fiscal year ending December 31, 2024[83] - All board members attended 100% of the board meetings and the annual general meeting[85] - The company has complied with all corporate governance codes as per the Hong Kong Stock Exchange rules, with the exception of certain deviations noted in the report[79] - The board consists of three executive directors and three independent non-executive directors, ensuring a balanced and diverse composition[88] - The company has established mechanisms to ensure independent opinions and contributions in the decision-making process of the board[92] Risk Management and Internal Control - The company has implemented a risk management framework to identify current and prospective risks that could significantly impact financial performance, reputation, or business model[130] - The board is responsible for ensuring the establishment and maintenance of an appropriate and effective risk management and internal control system[131] - The company recognizes the importance of risk management and internal control in achieving strategic objectives and adopts a conservative approach to manage strategic risks[128] - The audit committee, established in 2002, ensures the objectivity and credibility of the company's financial reporting and risk management systems[107] Environmental, Social, and Governance (ESG) - The company has established a cross-departmental ESG working group to coordinate efforts and ensure performance meets stakeholder expectations[142] - The report period for the environmental, social, and governance report spans from January 1, 2024, to December 31, 2024[144] - The company aims to minimize operational waste and ensure environmentally friendly disposal methods, adhering to various environmental protection laws[165] - The company has implemented energy-saving measures to reduce greenhouse gas emissions, focusing on decreasing energy consumption[163] Employee Welfare and Diversity - The company has committed significant resources to provide a safe, healthy, and comfortable working environment for employees in Hong Kong and China[75] - The company is committed to increasing gender diversity in its workforce, particularly in recruitment processes[123] - The company provides regular training programs to enhance employees' technical, management, and professional skills[189] - Employee turnover rate for females was 74.2%, while for males it was 105.1%, indicating a higher turnover among male employees[185] Shareholder Communication - The group emphasizes the importance of communication with shareholders, utilizing its website as a primary channel for information dissemination[140] - The company has a clear process for shareholders to request special meetings and propose inquiries to the board[134][135] - The company welcomes stakeholder feedback and suggestions regarding its reports and operations[147]

Financial Performance - The group recorded revenue of approximately HKD 57 million for the year ending December 31, 2024, a decrease of about 27.2% compared to approximately HKD 78.4 million in 2023[3]. - The loss attributable to equity holders for the year ending December 31, 2024, was HKD 55.8 million, a reduction of approximately 43.3% from the loss of about HKD 98.4 million in the previous year[3]. - The total revenue for the year ended December 31, 2024, was HKD 57,049,000, a decrease of 27.2% compared to HKD 78,381,000 in 2023[59]. - The company reported a net loss of HKD 66,353,000 for the year, compared to a net loss of HKD 101,059,000 in 2023, representing a 34.3% reduction in losses[59]. - The total annual loss for 2024 was HKD 66,353,000, a decrease of 34.4% compared to a loss of HKD 101,059,000 in 2023[60]. - The total comprehensive loss for the year amounted to HKD 81,805,000, down from HKD 112,957,000 in the previous year, representing a reduction of 27.6%[60]. - The company recognized an impairment loss on goodwill amounting to HKD 9,357,000, with no such loss reported in the previous year[59]. - The group incurred a total annual loss of HKD 66,353,000 in 2024, compared to a loss of HKD 101,059,000 in 2023, indicating an improvement of 34.3%[73]. Revenue Breakdown - The real estate business contributed approximately HKD 22,600,000 to revenue, maintaining stability compared to HKD 24,300,000 in the previous year[16]. - Financial services recorded revenue of approximately HKD 6,900,000, up from HKD 5,900,000 in the same period last year[10][16]. - The automotive business did not generate any revenue this period, compared to HKD 11,700,000 in the previous year[11][16]. - The restaurant business generated approximately HKD 27,500,000 in revenue, down from HKD 36,500,000 in the previous year[12][16]. - The real estate segment generated revenue of HKD 22,601,000 in 2024, down from HKD 24,282,000 in 2023, representing a decline of 6.9%[73]. - The financial services segment reported interest income of HKD 6,904,000 in 2024, an increase of 17.8% from HKD 5,857,000 in 2023[73]. - The automotive segment recorded a loss of HKD 4,519,000 in 2024, compared to a profit of HKD 375,000 in 2023[73]. - The restaurant segment's revenue decreased significantly from HKD 36,542,000 in 2023 to HKD 27,544,000 in 2024, a drop of 24.6%[73]. Assets and Liabilities - As of December 31, 2024, the total current assets of the group amounted to approximately HKD 566.8 million, an increase from HKD 517.3 million as of December 31, 2023[25]. - The group's cash and cash equivalents were approximately HKD 14.8 million as of December 31, 2024, down from HKD 39.7 million as of December 31, 2023[25]. - The current ratio as of December 31, 2024, was approximately 436.32%, slightly decreased from 449.82% as of December 31, 2023[25]. - Non-current assets decreased significantly from HKD 212,874,000 in 2023 to HKD 93,129,000 in 2024, a decline of 56.3%[61]. - Current assets increased from HKD 517,319,000 in 2023 to HKD 566,812,000 in 2024, reflecting a growth of 9.5%[61]. - Total assets decreased from HKD 730,193,000 in 2023 to HKD 659,941,000 in 2024, a decline of 9.6%[61]. - The total equity attributable to the company's owners decreased from HKD 615,332,000 in 2023 to HKD 547,348,000 in 2024, a reduction of 11.0%[62]. - Current liabilities increased from HKD 115,005,000 in 2023 to HKD 129,907,000 in 2024, an increase of 12.9%[62]. - The net current assets increased from HKD 402,314,000 in 2023 to HKD 436,905,000 in 2024, a growth of 8.6%[62]. Corporate Governance - The company is committed to high levels of corporate governance and has adhered to all applicable corporate governance codes as of December 31, 2024[45]. - The company has established a remuneration committee responsible for reviewing and advising on the remuneration policies for directors and senior management[50]. - The audit committee is tasked with ensuring the integrity of financial reporting and risk management systems, maintaining appropriate relationships with external and internal auditors[52]. - The company has complied with the listing rules regarding the appointment of independent non-executive directors[56]. Future Plans and Strategies - The group expects stable or slightly improved performance in financial services, automotive, and restaurant businesses due to anticipated interest rate decreases and slight growth in consumer demand[13]. - The group plans to expand its business based on market demand and available capital[14]. - The company plans to expand its financial services and invest in the food and beverage industry, indicating a strategic focus on growth in these sectors[43]. - The group plans to assess the specific impact of the new Hong Kong Financial Reporting Standard 18 on its consolidated financial statements[69]. - The company plans to publish its annual report and corporate governance report by April 30, 2025[58]. Shareholder Information - The company did not recommend the payment of a final dividend for the year ending December 31, 2024, consistent with the previous year[3]. - The group did not declare any dividends for the year ending December 31, 2024, consistent with 2023[86]. - The weighted average number of ordinary shares used to calculate basic and diluted loss per share increased to 970,157,660 in 2024 from 677,194,836 in 2023, indicating a rise of about 43.3%[10]. Impairment and Fair Value Losses - The company incurred a fair value loss on financial assets of HKD 18,095,000, significantly reduced from HKD 63,035,000 in the prior year[59]. - The group recognized a goodwill impairment loss of HKD 9,357,000 in 2024, with no such loss reported in 2023[73]. - The group reported a fair value loss on financial assets of HKD 18,095,000 in 2024, compared to a loss of HKD 63,035,000 in 2023, showing a significant reduction[73].

Revenue and Business Performance - For the six months ended June 30, 2024, the company's revenue was approximately HKD 29,400,000, an increase of about 42.9% from HKD 20,600,000 for the same period in 2023[22]. - The property business generated approximately HKD 12,100,000 in revenue, primarily from sales of remaining units in "置地新城" and "中建 • 俊公館"[18]. - The restaurant business achieved revenue of approximately HKD 14,300,000, up from HKD 11,400,000 in the previous period[21]. - The company anticipates improved sales in the real estate sector due to increased government support and expects stable or slightly improved performance in financial, automotive, and restaurant businesses[22]. - The company reported a total of HKD 90,528,000 in loans receivable as of June 30, 2024, an increase from HKD 86,116,000 as of December 31, 2023, representing a growth of 5.6%[78]. Financial Losses and Expenses - The company's net loss attributable to shareholders was approximately HKD 23,800,000, an increase of about 41.2% from HKD 16,800,000 in the prior period, mainly due to increased administrative expenses[22]. - Administrative expenses increased from approximately HKD 17,000,000 in the previous year to approximately HKD 23,000,000, mainly due to higher employee salaries and depreciation[29]. - The group recorded a loss attributable to the owners of approximately HKD 23,800,000 for the period, compared to a loss of approximately HKD 16,800,000 in the same period last year, primarily due to increased administrative expenses[30]. - The group incurred a loss before tax of HKD 25,614,000, compared to a loss of HKD 18,070,000 in the previous year, indicating a deterioration of 41.6%[40]. - The total comprehensive loss for the period was HKD 38,875,000, slightly higher than HKD 37,740,000 in the same period last year, an increase of 3.0%[41]. Asset and Liability Management - As of June 30, 2024, the group's current assets net amount was approximately HKD 364,900,000, down from approximately HKD 402,300,000 as of December 31, 2023[31]. - The group’s total assets amounted to HKD 707,732,000, down from HKD 730,193,000, reflecting a decrease of 3.1%[43]. - The equity attributable to the owners of the company decreased to HKD 579,386,000 from HKD 615,332,000, a decline of 5.8%[43]. - The group’s total liabilities as of June 30, 2024, were HKD 138,017,000, compared to HKD 121,603,000 as of December 31, 2023[58]. - The aging analysis of accounts payable shows that 71.2% (HKD 35,949,000) is overdue by more than 90 days as of June 30, 2024, compared to 96.4% (HKD 44,413,000) as of December 31, 2023, indicating an improvement in payment terms[86]. Cash Flow and Financial Position - Cash flow from operating activities generated HKD 150,000, a recovery from a cash outflow of HKD 17,118,000 in the previous year[45]. - The company recorded a net cash inflow from investing activities of HKD 6,142,000, compared to a cash outflow of HKD 5,857,000 in the same period last year[46]. - Total cash and cash equivalents at the end of the period increased to HKD 39,910,000 from HKD 5,329,000, marking a substantial improvement[46]. - The company’s cash and cash equivalents increased slightly to HKD 39,910,000 as of June 30, 2024, compared to HKD 39,714,000 as of December 31, 2023, showing a marginal growth of 0.5%[83]. Share Capital and Governance - The company did not recommend the declaration of an interim dividend for the period ending June 30, 2024[36]. - The company’s issued and fully paid share capital remained unchanged at 970,157,660 shares as of June 30, 2024, with a par value of HKD 0.04 per share[85]. - The company has maintained compliance with the corporate governance code during the reporting period, with a clear distinction between the roles of the chairman and the CEO[104]. - The board consists of three executive directors, including the chairman, and three independent non-executive directors, ensuring a balance of skills and experience[105]. Future Outlook and Strategic Plans - The company will continue to seek new business opportunities to enhance shareholder returns and expand based on market demand and available capital[22]. - The company plans to continue focusing on market expansion and product development to improve financial performance in the upcoming periods[49].

Revenue and Profitability - Revenue for the six months ended June 30, 2024, increased by 42.9% to HKD 29.4 million compared to HKD 20.6 million in the same period last year[1] - Revenue for the six months ended June 30, 2024, was HKD 29.363 million, compared to HKD 20.551 million in the same period in 2023[24] - Total group revenue increased to HKD 29,363 thousand from HKD 20,551 thousand, a growth of 42.9%[31][32] - Revenue from external customers in Mainland China and Hong Kong increased from HKD 20,551 thousand in 2023 to HKD 29,363 thousand in 2024, driven by growth in property sales and restaurant operations[34] - Property sales revenue in China surged from HKD 6,300 thousand in 2023 to HKD 12,100 thousand in 2024, reflecting strong demand in the region[35] - Net loss attributable to the company's owners increased by 41.2% to HKD 23.8 million for the six months ended June 30, 2024, compared to HKD 16.8 million in the same period last year[1] - Gross profit decreased to HKD 4.1 million with a gross margin of 13.9% for the six months ended June 30, 2024, compared to HKD 6.7 million and a gross margin of 32.7% in the same period last year[10] - Gross profit for the six months ended June 30, 2024, was HKD 4.081 million, down from HKD 6.729 million in the same period in 2023[24] - The company reported a loss before tax of HKD 25.614 million for the six months ended June 30, 2024, compared to a loss of HKD 18.070 million in the same period in 2023[24] - Total comprehensive loss for the six months ended June 30, 2024, was HKD 38.875 million, compared to HKD 37.740 million in the same period in 2023[25] - The company recorded a loss attributable to owners of approximately HKD 23,800,000, compared to HKD 16,800,000 in the same period last year, mainly due to increased administrative expenses[14] - The company reported a loss attributable to ordinary shareholders of 23,778 thousand HKD for the six months ended June 30, 2024, compared to 16,834 thousand HKD in the same period in 2023[42] - Total group loss narrowed to HKD 26,707 thousand from HKD 18,155 thousand[31][32] Business Segment Performance - Property business generated revenue of HKD 12.1 million, primarily from the sale of remaining units in Zhidi Xincheng and Zhongjian Jun Mansion[2] - Property business segment revenue decreased to HKD 12,114 thousand from HKD 6,258 thousand, a decline of 93.5%[31][32] - Property business segment loss widened to HKD 27,327 thousand from HKD 14,141 thousand[31][32] - Financial business recorded interest income of HKD 2.9 million for the six months ended June 30, 2024[3] - Financial business segment revenue remained stable at HKD 2,912 thousand compared to HKD 2,903 thousand[31][32] - Financial business segment loss increased to HKD 1,150 thousand from a profit of HKD 2,862 thousand[31][32] - The financial business segment generated approximately HKD 2,400,000 from a single customer, accounting for over 8% of the group's total revenue, consistent with the previous year[34] - Catering business recorded revenue of HKD 14.3 million for the six months ended June 30, 2024[5] - Food and beverage segment revenue increased to HKD 14,337 thousand from HKD 11,390 thousand, a growth of 25.9%[31][32] - Food and beverage segment loss increased to HKD 6,365 thousand from HKD 5,066 thousand[31][32] - Automotive business segment reported no revenue in both periods[31][32] Costs and Expenses - Cost of revenue increased by 82.9% to HKD 25.3 million for the six months ended June 30, 2024, compared to HKD 13.8 million in the same period last year[9] - The group reported a pre-tax loss, with cost of sales rising from HKD 13,822 thousand in 2023 to HKD 25,282 thousand in 2024, and depreciation costs increasing from HKD 2,792 thousand to HKD 5,418 thousand[38] - Depreciation expense increased to HKD 5,418 thousand from HKD 2,792 thousand[31][32] - Sales and distribution expenses decreased by 19.9% from HKD 6,400,000 to HKD 5,200,000, mainly due to a reduction in advertising[12] - Administrative expenses increased from HKD 17,000,000 to HKD 23,000,000, driven by higher employee salaries and depreciation[13] - Financing costs increased to 819 thousand HKD for the six months ended June 30, 2024, up from 626 thousand HKD in the same period in 2023[40] Financial Position - Net current assets stood at HKD 364,900,000 as of June 30, 2024, with cash and cash equivalents at HKD 39,800,000[15] - The company's current ratio decreased from 449.82% to 368.76% as of June 30, 2024[15] - Total assets as of June 30, 2024, were HKD 707.732 million, down from HKD 730.193 million as of December 31, 2023[26] - Total equity attributable to the company's owners as of June 30, 2024, was HKD 579.386 million, compared to HKD 615.332 million as of December 31, 2023[27] - Total liabilities as of June 30, 2024, were HKD 138.017 million, up from HKD 121.603 million as of December 31, 2023[27] - Total assets of the group decreased from HKD 730,193 thousand in 2023 to HKD 707,732 thousand in 2024, with a significant reduction in non-current assets in Hong Kong from HKD 20,760 thousand to HKD 15,379 thousand[33][34] - The company's property, plant, and equipment had a total carrying amount of 15,379 thousand HKD as of June 30, 2024, down from 20,760 thousand HKD as of December 31, 2023[44] - Loans and interest receivables increased to 90,528 thousand HKD as of June 30, 2024, from 86,116 thousand HKD as of December 31, 2023[45] - Inventory increased to 52,323 thousand HKD as of June 30, 2024, from 46,706 thousand HKD as of December 31, 2023, primarily due to higher automotive inventory[46] - Accounts receivable decreased to 584 thousand HKD as of June 30, 2024, from 996 thousand HKD as of December 31, 2023, with a higher proportion of overdue receivables (51% over 90 days)[47] - Cash and cash equivalents increased to HKD 39,910 thousand as of June 30, 2024, compared to HKD 39,714 thousand as of December 31, 2023[48] - RMB-denominated cash and cash equivalents surged to HKD 10,253 thousand as of June 30, 2024, up from HKD 1,341 thousand as of December 31, 2023[48] - Bank overdrafts utilized increased significantly to HKD 9,928 thousand as of June 30, 2024, compared to HKD 2,949 thousand as of December 31, 2023[49] - Accounts payable aged over 90 days decreased to 71.2% as of June 30, 2024, from 96.4% as of December 31, 2023[51] - Contract liabilities increased to HKD 19,770 thousand as of June 30, 2024, up from HKD 7,539 thousand as of December 31, 2023[52] Other Income and Expenses - Other income increased from HKD 600,000 to HKD 1,300,000, primarily due to bank interest income[11] - Other income and gains increased significantly from HKD 644 thousand in 2023 to HKD 1,271 thousand in 2024, primarily due to higher interest income and bad debt provision reversals[37] - Interest income from related parties decreased to HKD 1 thousand for the six months ended June 30, 2024, compared to HKD 2,903 thousand for the same period in 2023[57] Taxation - No provision for Hong Kong profits tax was made as the group did not generate taxable profits in Hong Kong during the six months ended June 30, 2024[39] - Total taxes in Mainland China for the six months ended June 30, 2024, amounted to 1,093 thousand HKD, compared to 85 thousand HKD in the same period in 2023[40] Shareholder and Corporate Governance - The company's total number of employees increased from 71 to 85 as of June 30, 2024[19] - The company granted 45,000,000 share options under the 2021 plan, exercisable at HKD 0.152 per share[19] - The company did not recommend an interim dividend for the period ending June 30, 2024[20] - The company's foreign currency risk is not significant as its operations are primarily in Hong Kong and denominated in HKD[21] - The net proceeds from the rights issue amounted to approximately HKD 48.3 million, allocated for general working capital, investments in food and beverage-related businesses, live streaming business, and expansion of financial services[23] - As of June 30, 2024, HKD 18.715 million of the net proceeds from the rights issue has been utilized, with HKD 29.585 million remaining unused[23] - The company has no significant contingent liabilities as of June 30, 2024[54] - No assets were pledged as collateral as of June 30, 2024[55] - The company has no significant commitments as of June 30, 2024[56] - The interim report was approved by the board of directors on August 30, 2024[59] - The company has not entered into any arrangements allowing directors or senior executives to benefit from purchasing shares or related securities during the six months ending June 30, 2024[63] - As of June 30, 2024, Shen Shuiping, a major shareholder, holds 48,560,000 shares, representing approximately 5.01% of the total issued shares[64] - Under the 2021 Share Option Plan, 45,000,000 share options were granted during the period, with 45,000,000 options remaining unexercised as of June 30, 2024[65] - If all unexercised share options under the 2021 Plan are exercised, the company will issue an additional 45,000,000 ordinary shares, increasing share capital by HKD 1,800,000 and share premium account by HKD 5,040,000[66] - The company did not purchase, sell, or redeem any of its listed securities during the reporting period[67] - The company has maintained compliance with the Corporate Governance Code, except for minor deviations, during the six months ending June 30, 2024[68] - The roles of Chairman and CEO are separated, and the company is currently seeking a suitable candidate for the CEO position[69] - The company has adopted a code of conduct for directors' securities transactions, which is not less stringent than the standard code, and all directors have confirmed compliance as of June 30, 2024[70] - The audit committee has reviewed the group's interim report, including the unaudited condensed consolidated financial statements for the six months ended June 30, 2024[71] - No changes to the company's directors have occurred during the six months ended June 30, 2024, and no other information required to be disclosed under Listing Rule 13.51B(1) has been identified[72] - The unaudited interim results announcement for the six months ended June 30, 2024, has been published on the company's website and the Hong Kong Stock Exchange website, with the 2024 interim report to be dispatched to shareholders by September 30, 2024[72] - The executive directors as of the announcement date are Mr. Wang Zuwei, Ms. Wong Sze Yu, and Ms. Lam Ka Lee, while the independent non-executive directors are Ms. Chan Sheung Yu, Ms. Wu Wai Shan, and Mr. Leung Ka Chun[73] Future Outlook - The company expects improvement in property sales due to increased government support for the real estate sector in China[6] - The company anticipates stable or slightly improved performance in financial, automotive, and catering businesses due to expected lower interest rates and slight growth in consumer demand[7] - The company will continue to expand its business based on market demand and available funds[7]

Financial Performance - The company recorded revenue of approximately HKD 78.4 million for the year ended December 31, 2023, an increase of about 41.2% compared to approximately HKD 55.5 million in 2022[6]. - The loss attributable to equity holders of the company for the year was HKD 98.4 million, a decrease of approximately 44.1% from the loss of about HKD 176.1 million in the previous year[6]. - The group's revenue increased by approximately 41.2% from about HKD 55,500,000 in the previous year to approximately HKD 78,400,000 in the current period[33]. - Revenue from property sales was approximately HKD 24,300,000, remaining stable compared to HKD 24,600,000 in the previous year, accounting for about 31.0% of total revenue[33]. - The automotive business recorded revenue of approximately HKD 11.7 million in 2023, down from HKD 25.7 million in the same period last year[15]. - The food and beverage business generated revenue of approximately HKD 36.5 million for the year ending December 31, 2023[16]. - The company expects improvement in real estate sales in 2024 due to increased government support for the real estate sector in China[17]. - The group recorded a loss of approximately HKD 100,800,000, an improvement from a loss of about HKD 175,700,000 in the previous year[45]. Real Estate Projects - The real estate projects, including "Zhi Di New City," "Yiyun Mountain Villa," and "China State Construction • Jun Residence," are located in Anshan, Liaoning Province, China, with cumulative sales of approximately 93.2% for "Zhi Di New City" as of December 31, 2023[8]. - "Yiyun Mountain Villa" has sold approximately 66.3% of its residential units and 100% of its parking spaces and shops as of December 31, 2023[9]. - Phase 1.2 has sold approximately 82.9% of its total construction area of 65,148 square meters as of December 31, 2023[14]. - Phase 1.1 has sold approximately 18.5% of its total construction area of 5,935 square meters as of December 31, 2023[14]. - Phase 1.3 has sold approximately 93.6% of its total construction area of 11,107 square meters during 2023[14]. - Phase 2.1 has sold approximately 67.6% of its total construction area of 40,951 square meters as of December 31, 2023[14]. - Phase 3 has sold approximately 86.6% of its total construction area of 24,471 square meters as of December 31, 2023[14]. - The foundation work for Phase 2.2 has been completed, which will provide approximately 21,000 square meters of residential and retail space[14]. Financial Services - The financial services segment recorded revenue of approximately HKD 5.9 million, up from approximately HKD 5.2 million in the previous year, indicating growth in the loan portfolio[13]. - The company plans to continue expanding its financial services, including real estate mortgages and luxury goods financing[13]. - The company aims to pursue market opportunities for stable interest income sources through its financial services[13]. Cost and Expenses - The cost of revenue decreased by approximately 30.1% from about HKD 118,800,000 to approximately HKD 83,000,000[39]. - The gross loss decreased significantly from approximately HKD 63,300,000 to about HKD 4,600,000, with the gross loss margin improving from 113.93% to 5.87%[40]. - Administrative expenses decreased by approximately 37.9% from about HKD 45,200,000 to approximately HKD 28,100,000[44]. Governance and Board Structure - The board of directors held 16 meetings during the fiscal year ending December 31, 2023, ensuring effective governance and oversight[83]. - The board consists of three executive directors and three independent non-executive directors, ensuring a balanced and diverse composition[86]. - The company has established three board committees: the Remuneration Committee, Audit Committee, and Nomination Committee, each with clearly defined responsibilities[97]. - The Remuneration Committee held four meetings in 2023, focusing on reviewing the remuneration policies and benefits for directors and senior management[99]. - The Audit Committee conducted five meetings in 2023, reviewing the 2022 annual report, 2023 interim report, and the effectiveness of the financial reporting and risk management systems[107]. - The company has established mechanisms to ensure independent opinions are available during board decision-making processes[89]. - The company has complied with all relevant laws and regulations without any significant violations during the year[72]. Sustainability and Environmental Impact - The company emphasizes sustainable development as a core strategy for long-term operations and community contributions[70]. - The company adheres to environmental protection policies aimed at minimizing impact on natural resources and ensuring compliance with relevant laws and regulations[71]. - The company has established clear short-term and long-term sustainability goals to achieve continuous emission reduction[138]. - The total greenhouse gas emissions increased from 45.24 tons in 2022 to 125.8 tons in 2023, representing a significant rise of approximately 178%[157]. - Direct greenhouse gas emissions decreased from 11.58 tons in 2022 to 1.6 tons in 2023, a reduction of about 86%[157]. - Indirect greenhouse gas emissions surged from 24.34 tons in 2022 to 108.1 tons in 2023, marking an increase of approximately 344%[157]. - The company aims to reduce energy consumption to mitigate its environmental impact, focusing on energy efficiency initiatives[158]. - The company has implemented specific energy-saving measures to reduce greenhouse gas emissions and conserve energy[159]. Employee and Labor Practices - The total number of employees increased to 71 as of December 31, 2023, up from 38 as of December 31, 2022[54]. - Employee turnover rate for full-time staff reached 220.00%, indicating a significant challenge in employee retention[179]. - The company adheres to all applicable local labor laws and regulations, ensuring competitive compensation and benefits to attract and retain talent[184]. - The company promotes gender equality, achieving equal numbers of male and female employees[186]. - The company has implemented measures to promote resource conservation and environmental awareness among employees[165]. Customer Relations and Quality Control - The company has established a customer service center to handle complaints and feedback related to its real estate and services, with no complaints received during the reporting period[191]. - The group maintained a high level of food quality and safety, with no reported cases of product recalls due to safety or health issues during the reporting period[193]. - The group has established policies and procedures to ensure timely handling of customer complaints, resulting in no significant complaints affecting business operations[194]. - The group has implemented an internal anti-corruption management system, with no significant violations related to bribery, fraud, extortion, or money laundering reported[198].

Financial Results Announcement - GBA Holdings Limited will announce its annual results for the year ending December 31, 2023, on March 28, 2024[2]. Audit Committee Review - The audit committee has reviewed the accounting principles and practices adopted by the group for the fiscal year ending December 31, 2023[2]. Board of Directors - The board of directors includes executive directors Wang Zuowei, Wang Siyu, and Lin Jiali, along with independent non-executive directors Chen Xiangru, Hu Huishan, and Liang Jiajin[2].

Financial Performance - GBA Holdings Limited recorded revenue of approximately HKD 78.4 million for the year ended December 31, 2023, representing an increase of about 41.2% compared to approximately HKD 55.5 million in 2022[4]. - The loss attributable to equity holders for the year was HKD 98.4 million, a decrease of approximately 44.1% from HKD 176.1 million in the previous year[4]. - The group recorded a loss of approximately HKD 100,800,000 during the current period, an improvement from a loss of approximately HKD 175,700,000 in the previous year[29]. - The company reported a net loss of HKD 101,059,000 for the year, a reduction of 42.5% from a net loss of HKD 176,074,000 in 2022[72]. - Total comprehensive loss for the year amounted to HKD 112,957 thousand, down from HKD 219,473 thousand in the prior year, reflecting improved financial performance[74]. - The total loss before tax for 2023 was HKD 100,833,000, compared to a loss of HKD 175,742,000 in 2022, indicating an improvement of 42.6%[90]. - The group’s loss before tax for 2023 was HKD 98,407,000, compared to HKD 176,074,000 in 2022, indicating a reduction in losses[105]. Revenue Breakdown - The financial services segment generated revenue of approximately HKD 5.9 million, up from HKD 5.2 million in the previous year, indicating growth in the loan portfolio[12]. - The automotive business recorded revenue of approximately HKD 11.7 million, a decrease from HKD 25.7 million in the previous year, reflecting a diversification effort[13]. - The restaurant and food-related business generated revenue of approximately HKD 36.5 million for the year ended December 31, 2023[14]. - Revenue from the real estate business remained stable, contributing approximately HKD 24,300,000, accounting for about 31.0% of total revenue[18]. - The restaurant and food-related business contributed approximately HKD 36,500,000, representing about 46.6% of total revenue, compared to zero in the previous year[18]. - Real estate business revenue was HKD 24,282,000, slightly down from HKD 24,609,000 in 2022, representing a decrease of 1.3%[97]. - Automotive business revenue decreased significantly to HKD 11,700,000 from HKD 25,740,000, a decline of 54.5%[97]. - Restaurant operations generated HKD 28,934,000 in revenue, with no prior year comparison available[97]. Cost and Expenses - The cost of revenue decreased to HKD 82,981,000 from HKD 118,768,000, resulting in a gross loss of HKD 4,600,000, significantly improved from a gross loss of HKD 63,251,000 in the previous year[72]. - Administrative expenses decreased by approximately 37.9% from about HKD 45,200,000 to about HKD 28,100,000, mainly due to reduced building management fees and director remuneration[28]. - Administrative expenses decreased to HKD 28,087,000 from HKD 45,230,000, reflecting a cost-saving strategy[72]. - The company incurred financing costs of HKD 1,501,000, a significant increase from HKD 84,000 in the previous year[72]. - The financing costs rose significantly to HKD 1,501,000 in 2023 from HKD 84,000 in 2022, representing an increase of approximately 1,684.5%[100]. Assets and Liabilities - The group's current assets totaled approximately HKD 517,300,000 as of December 31, 2023, down from approximately HKD 583,000,000 as of December 31, 2022[30]. - The current ratio as of December 31, 2023, was approximately 449.82%, compared to about 776.48% as of December 31, 2022[30]. - Non-current assets increased to HKD 212,874 thousand in 2023 from HKD 170,701 thousand in 2022, driven by significant investments in property and goodwill[76]. - Current assets decreased to HKD 517,319 thousand in 2023 from HKD 582,978 thousand in 2022, primarily due to a reduction in properties under development[76]. - Shareholders' equity attributable to the company decreased to HKD 615,332 thousand in 2023 from HKD 678,599 thousand in 2022, reflecting a decline in reserves[78]. - Total liabilities increased to HKD 121,603 thousand in 2023 from HKD 75,080 thousand in 2022, indicating a rise in financial obligations[78]. Strategic Initiatives - The company anticipates improved sales in the real estate sector in 2024 due to increased government support for the industry[16]. - The overall business outlook for 2024 is stable or slightly improved, driven by expected declines in interest rates and a slight increase in consumer demand[16]. - The company aims to expand its financial services, including real estate mortgages and luxury goods financing, to enhance revenue stability[12]. - The company is pursuing expansion strategies, including the acquisition of UFL and CVEI, both involved in the restaurant business, for a total consideration of HKD 9,000,000[40]. - The company completed a rights issue on September 21, 2023, raising approximately HKD 50,230,000, with net proceeds of about HKD 48,300,000 after expenses[42]. - The net proceeds from the rights issue are allocated for general working capital, investment in food and beverage-related businesses, live streaming business, and expansion of financial services[52]. - The company acquired 100% equity of CVEI for HKD 4,500,000 on March 17, 2023, which will become a wholly-owned subsidiary[51]. Corporate Governance - The board of directors is committed to high standards of corporate governance and transparency[55]. - The audit committee consists of three independent non-executive directors, ensuring compliance with financial reporting standards[65]. - The remuneration committee is responsible for reviewing the compensation policies for the board and senior management, ensuring alignment with corporate governance standards[63]. - There were changes in the board composition, including the appointment and resignation of several directors throughout 2023[61]. Shareholder Information - The company does not recommend the distribution of a final dividend for the year ended December 31, 2023, consistent with the previous year[4]. - The company had no dividends declared for the year ending December 31, 2023, consistent with 2022[104]. - Basic and diluted loss per share improved to HKD 0.145 from HKD 0.360 in the previous year[72]. - The average number of ordinary shares used for calculating basic and diluted loss per share increased to 677,194,836 in 2023 from 488,687,111 in 2022 due to share consolidation and rights issue[105].

Financial Performance - For the six months ended June 30, 2023, the company's revenue was approximately HKD 20,600,000, an increase of about 120.4% compared to HKD 9,300,000 for the same period in 2022[6]. - The company reported a net loss attributable to shareholders of approximately HKD 16,800,000, which is an increase of about 19.4% from a net loss of HKD 14,100,000 for the same period last year[6]. - The group's revenue for the six months ended June 30, 2023, was approximately HKD 20,551,000, an increase from HKD 9,323,000 in the same period of 2022, representing a growth of about 120.0%[41]. - The group reported a loss attributable to owners of the company of HKD 16,834,000, compared to a loss of HKD 14,101,000 in the previous year[27]. - The group reported a pre-tax loss of HKD 16,834,000 for the six months ended June 30, 2023, compared to a loss of HKD 14,101,000 for the same period in 2022[69]. - Total comprehensive loss for the period was HKD 37,740,000, slightly improved from HKD 39,878,000 in the previous year, representing a decrease of about 5.4%[42]. - The group reported a total operating loss of HKD 15,094,000 for the six months ended June 30, 2023, compared to a loss of HKD 14,101,000 in the same period of the previous year[54]. Revenue Breakdown - Revenue from property business was approximately HKD 6,300,000, primarily from sales of remaining units in the projects "置地新城" and "中建‧俊公館"[8]. - Financial services generated interest income of approximately HKD 2,900,000, up from HKD 2,100,000 in the previous year[18]. - The restaurant and related food business recorded revenue of approximately HKD 11,400,000, compared to zero revenue in the same period last year[19]. - The property business remains the largest segment, contributing nearly 30.5% of total revenue during the reporting period[17]. - The property business segment generated revenue of HKD 6,258,000, while the financial services segment contributed HKD 2,903,000, resulting in a total operating loss of HKD 11,364,000 for the group[53]. - Revenue from a single customer in the financial business was approximately HKD 2,400,000 for the six months ended June 30, 2023, compared to HKD 1,800,000 for the same period in 2022, accounting for 10% or more of total revenue[58]. Cost and Expenses - Cost of sales rose approximately 117.1% to HKD 13,822,000 from HKD 6,366,000 year-on-year, primarily due to direct costs in property and food-related businesses[21]. - Selling and distribution expenses surged approximately 289.5% to HKD 6,442,000 from HKD 1,654,000, attributed to increased advertising[25]. - The group incurred total expenses of HKD 3,645,000 related to unallocated corporate costs during the reporting period[53]. - Other income decreased significantly to HKD 411,000 from HKD 3,103,000, mainly due to a reduction in VAT refunds received[23]. Assets and Liabilities - As of June 30, 2023, the group's current assets net amounted to HKD 374,800,000, down from HKD 507,900,000 as of December 31, 2022[28]. - Non-current assets increased significantly to HKD 272,701,000 as of June 30, 2023, from HKD 170,706,000 at the end of 2022, marking an increase of approximately 59.8%[43]. - The company's total assets reached HKD 766,013,000, a slight increase from HKD 753,680,000 at the end of 2022, showing a growth of approximately 1.6%[44]. - The group’s total liabilities increased to HKD 129,129,000 from HKD 75,080,000, reflecting an increase of approximately 72%[44]. - The total liabilities as of June 30, 2023, were HKD 119,616,000, an increase from HKD 85,471,000 as of December 31, 2022, indicating a rise in financial obligations[55]. - Current assets decreased to HKD 493,312,000 from HKD 582,974,000, reflecting a decline of about 15.3%[43]. Corporate Actions and Governance - The company plans to raise up to approximately HKD 52,900,000 through a rights issue at a subscription price of HKD 0.12 per share, following a share consolidation[38]. - The company did not declare an interim dividend for the six months ended June 30, 2023, consistent with the previous year[68]. - The company has adhered to the corporate governance code, with a clear distinction between the roles of the Chairman and the CEO, ensuring compliance with the relevant guidelines[98]. - The board of directors consists of three executive directors and three independent non-executive directors, ensuring a balance of skills and experience[99]. - The company is in the process of appointing a new CEO following the vacancy created by the resignation of the previous CEO on August 31, 2023[99]. - The audit committee has reviewed the interim report, including the unaudited consolidated financial statements for the six months ended June 30, 2023[102]. Future Outlook - The company plans to launch its online live streaming business in the fourth quarter of 2023, which has not yet generated any revenue as of June 30, 2023[12]. - The company is focusing on diversifying its revenue base while seeking new business opportunities and reducing costs where possible[14]. - The group plans to continue focusing on market expansion and product development to drive future growth and improve profitability[56]. - The outlook for the global economy remains uncertain, with ongoing challenges from the COVID-19 pandemic affecting recovery efforts[13].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示，概不對因本公佈全部或任何部份內容而產生或 因倚賴該等內容而引致的任何損失承擔任何責任。 GBA HOLDINGS LIMITED GBA集團有限公司 （於百慕達註冊成立之有限公司） （股份代號：00261） 截至2023年6月30日止六個月未經審核中期業績公佈 管理層討論及分析 GBA集團有限公司（股份代號：261，於百慕達註冊成立之有限公司，其股份於 香港聯合交易所有限公司（「聯交所」）主板上市）（「本公司」，連同其附屬公司 統稱「本集團」）董事（「董事」）會（「董事會」）宣佈本公司截至2023年6月30日止六 個月（「本期間」）的未經審核簡明綜合中期業績連同截至2022年6月30日止六個 月（「去年同期」）的比較數字。 業務回顧 物業業務 於回顧期內，我們繼續專注位於遼寧省鞍山市的物業項目。本集團在鞍山市擁 有三個物業項目，其中兩個分別名為「置地新城」及「依雲山莊」的項目已經完工。 兩個項目的大部分物業單位已經售出。 ...