Financial Performance - For the year ended December 31, 2023, the company reported a revenue of HKD 1,203,026,000, a decrease of 25.6% compared to HKD 1,617,467,000 in 2022[3] - The gross loss for the year was HKD 222,887,000, improving from a gross loss of HKD 525,127,000 in the previous year[3] - The operating loss for the year was HKD 758,149,000, a reduction from HKD 875,881,000 in 2022, indicating a 13.4% improvement[3] - The net loss for the year was HKD 827,797,000, compared to a net loss of HKD 911,264,000 in 2022, reflecting a 9.1% decrease in losses[3] - The basic and diluted loss per share was HKD 550.66, compared to HKD 720.73 in the previous year, indicating a 23.5% improvement[4] - The company reported a fair value loss on investment properties of HKD 151,402,000, down from HKD 222,953,000 in 2022[3] - The property development and investment segment reported a loss of HKD 336,776 thousand for the year ended December 31, 2023, compared to a loss of HKD 673,184 thousand in the previous year[35] - The group incurred a net loss of HKD 156,169 thousand from the sale of subsidiaries during the year[35] - The financing costs for the year were HKD 133,787 thousand, reflecting the group's financial obligations[35] - The group reported a loss of approximately HKD 828 million for the year ending December 31, 2023, with total borrowings amounting to approximately HKD 4,670 million, of which current borrowings were about HKD 3,953 million[53] Assets and Liabilities - Total assets decreased to HKD 9,731,912,000 from HKD 13,106,384,000, a decline of 26.5% year-over-year[6] - Current liabilities decreased to HKD 8,138,485,000 from HKD 12,160,357,000, a reduction of 33.1%[6] - The company's equity decreased to HKD 2,225,585,000 from HKD 3,192,554,000, a decline of 30.3%[7] - Trade receivables decreased to HKD 12.009 million in 2023 from HKD 21.801 million in 2022, a reduction of 44.4%[45] - Trade payables decreased to HKD 1,407.726 million in 2023 from HKD 2,529.794 million in 2022, a decline of 44.2%[48] - The group's cash and bank balances as of December 31, 2023, were approximately HKD 23.8 million, down from HKD 88.4 million in the previous year[82] - The group's contracted but unprovided expenditures related to properties under construction and equipment amounted to approximately HKD 1,546.0 million as of December 31, 2023, down from approximately HKD 7,264.6 million in 2022[91] Debt and Financing - The company has a total borrowing of approximately HKD 4,670,000,000, with current borrowings amounting to HKD 3,953,170,000[12] - The group has received a notice regarding the early maturity of defaulted other borrowings amounting to approximately HKD 249 million, raising significant doubts about the group's ability to continue as a going concern[56] - The company has plans to repay a loan of approximately HKD 378 million due in October 2025 using proceeds from the second phase of the equity sale[17] - The group has secured a new unsecured loan financing of approximately RMB 1,000 million after December 31, 2023, without further drawing from the undrawn amounts[22] - The group expects to meet its obligations to bondholders through the completion and handover of properties as planned[22] Market Conditions - The Chinese economy faced external challenges in 2023, with GDP reaching approximately RMB 126.06 trillion, reflecting a year-on-year growth of about 5.2%[60] - National statistics indicated that the total sales area of commercial housing in 2023 was approximately 1.12 billion square meters, a year-on-year decrease of about 8.5%[61] - The total sales value of commercial housing was approximately RMB 11.66 trillion, down about 6.5% year-on-year, with residential sales value declining by approximately 6.0%[61] - Real estate development investment fell by approximately 9.6% year-on-year, marking a continuous decline for two consecutive years[61] - Despite some policy benefits, the real estate market remains in a bottoming phase, with insufficient recovery in consumer confidence and purchasing power, leading to significant sales pressure[65] Strategic Initiatives - The company has implemented a debt management plan to reduce debt costs and alleviate repayment pressure, focusing on ensuring timely project delivery[67] - The company is actively adjusting its marketing strategies and supply rhythms to accelerate sales and cash recovery in better-performing projects[67] - The company anticipates a shift in the real estate market dynamics, with a focus on affordable housing and a dual-track system for public and commercial housing development[74] - The company aims to enhance project management efficiency and construction quality to ensure timely and quality project completion[74] Operational Developments - The company achieved a significant revenue increase of approximately 55.6% in its KTV business, reflecting improved brand recognition and market response[68] - The company successfully sold 51% of its stake in Shantou Taisheng, with plans to complete the remaining 49% within 12 months, although delays have been encountered[71] - The company has five real estate development projects in major cities, covering a total construction area of approximately 1.3 million square meters[65] Corporate Governance - The board has prepared a cash flow forecast covering the next 15 months to alleviate liquidity pressure and improve financial conditions[15] - The audit committee has reviewed and approved the group's financial results for the year ended December 31, 2023[105] - The board does not recommend any final dividend for the year ended December 31, 2023, consistent with no dividends in 2022[94]

Economic Overview - In the first half of 2023, China's GDP increased by 5.5% year-on-year, indicating a positive economic trend despite global challenges [12]. - National investment in property development was approximately RMB 5,855 billion, representing a year-on-year decrease of 7.9% [13]. - The construction area in the real estate sector was approximately 7,915.48 million square meters, down by 6.6% year-on-year [13]. - Newly started housing area decreased by approximately 24.3%, totaling around 498.8 million square meters [13]. - The sales area for properties was approximately 595.15 million square meters, reflecting a year-on-year decrease of 5.3% [13]. Real Estate Market Challenges - The real estate market faced significant challenges, with many enterprises experiencing liquidation and delisting, impacting debt restructuring and market confidence [17]. - Large state-owned and stable private enterprises maintained resilient development, while high-risk real estate enterprises continued to struggle [17]. - The overall financing environment showed no significant improvement, further intensifying the differentiation among domestic real estate enterprises [17]. - Local governments implemented favorable policies to stimulate demand, but their effectiveness was limited due to buyer concerns and economic uncertainties [13]. - The real estate industry showed a trend of "slow bottoming out and recovery," but actual sales data growth was limited due to various unfavorable factors [24]. Company Performance and Strategy - The company is focused on navigating the current market environment and adapting to policy changes to ensure sustainable development [12]. - The Group actively managed cash flow and optimized resource allocation to improve operational resilience and risk resistance [25]. - The Company adjusted sales strategies and upgraded store characteristics to increase customer traffic in the culture and entertainment segment [19]. - The Group emphasized timely collection of sales proceeds to improve risk resistance and resilience [20]. - The Group's strategy includes actively optimizing project portfolios and focusing resources on key projects to reduce debts and control overall risks [41]. Financial Results - The Group achieved approximately HK$159,592,000 in revenue for the six months ended 30 June 2023, representing a significant decrease of approximately 87.3% from approximately HK$1,253,295,000 during the same period last year [44]. - The gross loss of the Group was approximately HK$56,583,000, a decrease of 56.0% compared to the gross loss of approximately HK$128,443,000 during the same period last year, with a gross loss margin of 35.5% [45]. - The Group recorded a net loss of approximately HK$217,065,000 for the period, a decrease from a net loss of approximately HK$390,210,000 for the six months ended 30 June 2022, representing a reduction of about 44.3% [53]. - The Company reported a total loss for the period of HK$217,065,000, down from HK$390,210,000 in the previous year, indicating a 44% reduction in losses [132]. - The Company did not recommend any interim dividend for the six months ended June 30, 2023, consistent with the previous year [125]. Cash Flow and Liquidity - Net cash generated from operating activities for the first half of 2023 was HK$135,102,000, a significant decrease of 83.9% compared to HK$790,830,000 in the same period of 2022 [145]. - The company reported a net cash used in financing activities of HK$157,753,000 for the first half of 2023, a decrease from HK$902,682,000 in the same period of 2022, reflecting improved cash management [145]. - The Group's cash flow forecast indicates plans to mitigate liquidity pressure and improve financial position, including accelerating pre-sales of major property development projects [164][166]. - The Group's bank and cash balances at the end of the period were HK$58,800,000, down from HK$190,339,000 at the beginning of the period [147]. - The Group's ability to continue as a going concern is contingent upon successfully implementing the cash flow forecast plans [167]. Governance and Compliance - The Company has maintained compliance with the Corporate Governance Code with no deviations reported for the six months ended June 30, 2023 [76]. - The Audit Committee has reviewed and approved the Group's unaudited condensed consolidated financial statements for the six months ended June 30, 2023 [89]. - The Board has overall responsibility for maintaining an effective internal control system, with management implementing these controls and conducting annual reviews [77]. - The Group's risk management system details were published in the Corporate Governance Report of the Annual Report for the year ended December 31, 2022 [77]. - The Group adopted all new and revised Hong Kong Financial Reporting Standards (HKFRSs) effective from January 1, 2023, with no material impact on the condensed consolidated interim financial statements [170]. Shareholder Information - As of June 30, 2023, the total issued share capital of the Company amounted to 109,202,495 Shares [113]. - Mr. Yao Jianhui holds a total interest of 222,392 Shares, representing approximately 0.20% of the issued Shares [99]. - Da Ming Prime Limited is the beneficial owner of 29,737,836 Shares, accounting for 27.23% of the total issued Shares [105]. - The total number of Shares available for issue under the 2014 Share Option Scheme is 493,835 Shares, which is 0.45% of the total number of Shares in issue [114]. - The total number of shares that can be issued under the 2014 Share Option Scheme is capped at 493,835 shares, representing 0.45% of the total issued shares as of the report date [117].

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告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何 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。 截至二零二三年六月三十日止六個月的中期業績 寶新置地集團有限公司（「本公司」）董事（「董事」）欣然宣佈本公司及其附屬公司（統 稱「本集團」）截至二零二三年六月三十日止六個月（「本期間」）的未經審核簡明綜合 業績，有關業績已由本公司的審核委員會（「審核委員會」）審閱。 簡明綜合損益及其他全面收益表 截至二零二三年六月三十日止六個月 截至六月三十日止六個月 二零二三年 二零二二年 附註 千港元 千港元 （未經審核） （未經審核） 營業額 5 159,592 1,253,295 銷售成本 (216,175) (1,381,738) ...

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告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告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。 關於截至二零二二年十二月三十一日止年度 年報之補充公告 茲提述(i)寶新置地集團有限公司（「本公司」）日期為二零一八年四月二十六日之公告（「該 公告」），內容有關本公司間接持有之非全資附屬公司深圳寶新實業有限公司、深圳錦汕 及謝先生就收購目標公司51%股本權益而訂立之投資合作協議；及(ii)本公司截至二零二 二年十二月三十一日止年度之年報（「二零二二財政年度年報」）。除另有界定外，本公告 所用詞彙與該公告所界定者具有相同涵義。 有關溢利保證之補充資料 根據投資合作協議，深圳錦汕及謝先生（統稱「擔保人」）共同及個別地保證，自完成與該 投資有關的工商變更登記之日起計三(3)年（「保證期」），目標公司須以向深圳寶新實業有 限公司合共派付不少於人民幣200,000,000元分紅之方式分派溢利（「溢利保證」）。 根據溢利保證，(i)深圳錦汕及謝先生各自須就溢利保證共同及個別向深圳寶新實業有限 公司負責，而彼等各自 ...

Financial Performance - Revenue for the year ended December 31, 2022, was HK$1,617,467,000, a decrease of 70.7% compared to HK$5,504,341,000 in 2021[15] - The loss before tax for 2022 was HK$1,061,783,000, compared to a profit of HK$223,798,000 in 2021[15] - The loss attributable to owners of the company for the year was HK$787,049,000, a significant decline from a profit of HK$334,621,000 in the previous year[15] - Basic loss per share from continuing operations was (720.73) cents, compared to earnings of 239.7 cents in 2021[15] - The total comprehensive loss for the year was HK$911,264,000, compared to a profit of HK$304,709,000 in 2021[15] - The Group recorded a revenue of approximately HK$1,617.5 million for the year, a decrease of approximately 70.6% from HK$5,504.3 million in the prior year[68] - Revenue from property sales was approximately HK$968.3 million, reflecting a year-on-year decrease of approximately 33.1% due to a recession in the PRC property market[69] - The Group experienced a gross loss of approximately HK$525.1 million, compared to a gross profit of approximately HK$270.3 million in the prior year, representing a decrease of approximately HK$795.4 million[70] - The gross loss margin for the year was 32.5%, contrasting with a gross profit margin of 4.9% in the prior year[70] - The net loss for the year was approximately HK$911.3 million, a significant decline from a net profit of approximately HK$304.7 million in the prior year[84] Assets and Liabilities - Total assets for the year ended December 31, 2022, were HK$16,684,537, a decrease of 17.8% from HK$20,150,319 in 2021[20] - Total liabilities decreased to HK$13,491,983, down 12.1% from HK$15,358,362 in 2021[20] - Equity attributable to owners of the company was HK$1,675,868, a decline of 43.3% compared to HK$2,953,934 in 2021[20] - The Group's total borrowings amounted to approximately HK$6,481.1 million as of December 31, 2022, down from approximately HK$8,067.5 million in the prior year[85] - The net current asset decreased to approximately HK$946.0 million from approximately HK$4,042.1 million as of December 31, 2021[91] - The gearing ratio increased to approximately 1.9 as of December 31, 2022, compared to approximately 1.5 in the prior year[91] - The Group's debt-to-equity ratio was approximately 1.9 as of 31 December 2022, compared to approximately 1.5 as of 31 December 2021[94] Cash Flow and Financing - The Group achieved a cash inflow of approximately HK$1,237.6 million from the pre-sale of inventory properties, despite facing tight operating cash flow and unsuccessful completion of the pre-sale target[121] - The Group has successfully obtained Renewable Borrowings amounting to approximately HK$1,091.7 million from three fund providers during the year ended December 31, 2022[118] - The Management has drawn down further Unutilised Facilities 2021 with a principal amount of approximately HK$1,434.6 million from fund providers throughout 2022[120] - As of December 31, 2022, the Group has Unutilised Facilities of approximately HK$3,186 million, with an additional HK$2,222 million obtained after this date[122] - The Directors prepared a cash flow forecast considering the plans and measures to address the financial challenges[107] Strategic Focus and Future Outlook - The company plans to focus on market expansion and new product development in the upcoming fiscal year[15] - The management indicated a strategic shift towards enhancing operational efficiency and cost management[15] - Future guidance suggests a cautious outlook due to market volatility and economic uncertainties[15] - The Group aims to deepen industrial chain cooperation and expand regional markets, focusing on innovative business models and partnerships for future growth[52] - The focus for 2023 includes ensuring quality delivery and enhancing brand influence in the real estate sector[62] Operational Challenges - The Group faced challenges in cash flow due to delayed payment collections and slow construction progress, impacting external debt repayment and supplier settlements[38] - The cultural sports and entertainment sector faced profitability challenges due to rising customer acquisition costs and increased operational expenses, leading to slowed profit growth in 2022[44] - The non-ferrous metals trading platform faced difficulties in 2022 due to sluggish downstream demand and disrupted price transmission, but the Group improved business flexibility through differentiated operations[51] Corporate Governance and Compliance - The Group's financial management and corporate governance practices are overseen by experienced directors and key personnel[182] - The Group's financial risk management objectives and policies are detailed in note 6 of the consolidated financial statements[198] - The Audit Committee has acknowledged the proposed actions plan to address the Disclaimer of Opinion and emphasized the need for continued efforts to mitigate liquidity pressure[117] - The Group aims to remove the Disclaimer of Opinion in the next financial year, contingent on the successful implementation of its action plan[126] Employment and Workforce - The company had 361 employees as of December 31, 2022, a reduction from 413 employees in the previous year[134] Environmental and Social Responsibility - The Company is committed to improving environmental sustainability and will closely monitor its performance[200] - The Company has complied with the "comply or explain" provisions set out in the Environmental, Social and Governance Reporting Guide[200]

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告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何 部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 二零二二年末期業績公告 寶新置地集團有限公司（「本公司」）董事（「董事」）欣然宣佈本公司及其附屬公司（統 稱「本集團」）截至二零二二年十二月三十一日止年度（「本年度」）的綜合財務業績如 下： 綜合損益及其他全面收益表 截至二零二二年十二月三十一日止年度 二零二二年 二零二一年 附註 千港元 千港元 持續經營業務 營業額 5 1,617,467 5,504,341 銷售成本 (2,142,594) (5,234,073) 毛（損）╱利 (525,127) 270,268 ...

Economic Overview - In the first half of 2022, the PRC's GDP was approximately RMB 56 trillion, representing a year-on-year growth of about 2.5%[10]. - The national real estate market faced significant challenges, with commercial housing sales volume dropping by approximately 28.9%, marking the highest decline in history[11]. - Investment in real estate development fell by approximately 5.4%, indicating the first negative cumulative growth year on year[11]. - National per capita culture and entertainment consumption expenditure was approximately RMB 1,037, down about 7.4% in the first half of 2022[15]. - The overall stabilization and rebound momentum of the PRC's economy is expected to support investment demand recovery in the latter half of 2022[30]. Real Estate Market Challenges - The construction area in the real estate sector continued to decline, falling approximately 2.8% year on year[11]. - Nearly 500 local policies were optimized in the first half of 2022 to support the real estate industry, a record high for the same period[11]. - Domestic real estate investment is expected to return to moderate positive growth in the second half of 2022, driven by supportive policies and increased financing needs[31]. Group's Strategic Adjustments - The Group actively adjusted its marketing strategy to enhance product marketability and improve management efficiency[16]. - The Group improved cash flow management and engaged in effective communication with creditors to address short-term liquidity issues[16]. - The Group is focusing on ensuring project completion, delivery, and repayment, with a strategy to boost sales and restore market confidence during the overall market slowdown[21][25]. - The Group is actively optimizing its debt structure to alleviate capital liquidity issues and ensure operational safety[22]. - The Group plans to enhance customer service and implement higher-quality, personalized customer experience standards in its property business[32]. - The Group plans to adapt to new development models and enhance project construction and risk management to support economic growth amid ongoing challenges in the real estate market[38]. Financial Performance - The Group's revenue for the period was approximately HK$1,253.3 million, representing a significant decrease of approximately 60.7% from HK$3,188.5 million in the corresponding period last year[38]. - The Group recorded a gross loss of approximately HK$128.4 million, a decrease of 245.9% compared to a gross profit of approximately HK$88.0 million in the same period last year, resulting in a gross loss margin of 10.2%[39]. - The Group's net loss for the period was approximately HK$390.2 million, compared to a net loss of approximately HK$84.1 million for the six months ended June 30, 2021[47]. - The Group's total borrowings amounted to approximately HK$7,224.0 million as of June 30, 2022, a decrease from approximately HK$8,067.5 million as of December 31, 2021[49]. - The Group's commitments for contracted but not provided for capital expenditures on properties under development were approximately HK$7,147.8 million as of June 30, 2022, down from approximately HK$7,849.1 million as of December 31, 2021[67]. Cash Flow Management - Cash and cash equivalents at the end of the period were HK$190,339,000, down from HK$870,355,000 at the beginning of the period, reflecting a decrease of approximately 78.1%[145]. - The Group reported a net cash outflow of HK$218,220,000 in cash and cash equivalents for the six months ended June 30, 2022, compared to an increase of HK$129,664,000 in the same period of 2021[145]. - The Group's cash flow management strategies are critical given the significant decrease in cash and cash equivalents and the high level of borrowings[160]. - The Group is actively negotiating with fund providers for an extension of maturity on certain borrowings due by December 31, 2022, to improve cash flows, with Directors confident of obtaining the extension[163]. Corporate Governance - The company has complied with the revised Corporate Governance Code effective from January 1, 2022, ensuring adherence to applicable provisions[80]. - The Audit Committee has reviewed and approved the Group's unaudited condensed consolidated financial statements for the six months ended June 30, 2022[87]. - The company has established a robust internal control system, with the Board overseeing risk management and compliance processes[81]. - All Directors confirmed compliance with the required standards of the Model Code for Securities Transactions during the reporting period[83]. Share Capital and Options - The share capital consolidation became effective on April 22, 2022, consolidating every fifty issued and unissued ordinary shares into one consolidated share[65]. - The 2014 Share Option Scheme was adopted to attract and retain quality personnel and align the interests of option holders with shareholders[106]. - The maximum number of shares that may be issued upon exercise of all outstanding options under the 2014 Share Option Scheme shall not exceed 30% of the total number of shares in issue from time to time[111]. Employee Information - The Group had 427 full-time employees as of June 30, 2022, an increase from 413 employees as of December 31, 2021[63].