China Sci-Tech Industrial Investment Group Limited 中國科創產業投資集團有限公司 (formerly known as Core Economy Investment Group Limited 核心經濟投資集團有限公司) (Continued into Bermuda with limited liability) (Stock Code: 339) Interim Report China Sci-Tech Industrial Investment Group Limited 中國科創產業投資集團有限公司 核心經濟投資集團有限公司） （前稱為Core Economy Investment Group Limited （於百慕達存續之有限公司） （股份代號：339） 中期報告 目錄 目錄 1 中國科創產業投資集團有限公司 | --- | --- | |------------------------------|-------| | | 頁次 | | 公司資料 | 2 | | 管理層討論及分析 | 3 | | 其他資料 | 9 | | 簡明綜合財務報表審閱 ...

Financial Performance - The company reported revenue of HKD 82,643,000 for the six months ended June 30, 2024, a decrease of 57.4% compared to HKD 193,710,000 in the same period of 2023[1]. - Other income was nil for the current period, compared to HKD 185,333,000 in the previous period due to the waiver of accrued director's remuneration[7]. - The company incurred a loss attributable to owners of HKD 3,757,925,000, compared to a loss of HKD 2,254,948,000 in the prior year, representing an increase in loss of 66.5%[1]. - Basic and diluted loss per share was HKD (0.013), compared to HKD (0.009) in the previous year, indicating a worsening in per-share performance[1]. - The company recorded revenue of approximately HKD 83,000 for the six months ended June 30, 2024, a decrease from HKD 194,000 in the same period of 2023[15]. - The loss attributable to the company's owners was approximately HKD 3,758,000, compared to HKD 2,255,000 in the previous year[15]. - Basic loss per share was HKD 0.013, up from HKD 0.009 in 2023[12]. Assets and Liabilities - Total assets decreased to HKD 7,777,921,000 as of June 30, 2024, from HKD 13,431,149,000 at the end of 2023, reflecting a decline of 42.3%[2]. - Current liabilities decreased to HKD 5,401,568,000 from HKD 6,391,031,000, a reduction of 15.5%[2]. - The net asset value attributable to owners decreased to HKD 3,551,680,000 from HKD 7,309,950,000, a decline of 51.5%[2]. - The company's cash and cash equivalents as of June 30, 2024, were HKD 902,521, a significant decrease from HKD 7,021,796 at the end of 2023[19]. - The net asset value of the group was HKD 3,551,680 as of June 30, 2024, down from HKD 7,309,950 at the end of 2023, resulting in a net asset value per share of HKD 0.01[19]. - The company's total liabilities to equity ratio increased to 2.087 as of June 30, 2024, compared to 0.915 as of December 31, 2023[22]. Investments and Financial Assets - The company reported a net unrealized gain on financial assets at fair value through profit or loss of HKD 504,420,000, compared to a gain of HKD 2,140,479,000 in the previous year[8]. - The company has not generated any income from the sale of financial assets at fair value through profit or loss during the current period, compared to HKD 2,715,290,000 in the previous period[6]. - The company’s non-current assets increased significantly to HKD 3,185,174,000 from HKD 569,832,000, indicating a growth of 459.5%[2]. - The fair value of listed equity securities increased to HKD 6,486,340 as of June 30, 2024, from HKD 5,981,920 at the end of 2023[13]. - The group continues to invest in listed equity securities, diversifying its portfolio across various sectors including internet technology and property management[17]. Operational Expenses and Employee Costs - The company's administrative and other operating expenses were approximately HKD 4,282,000, compared to HKD 4,015,000 in the previous year[15]. - The total employee cost for the six months ended June 30, 2024, was HKD 2,282,000, a decrease from HKD 2,377,452 in the previous year[28]. Corporate Governance and Compliance - The company adheres to high standards of corporate governance and has established procedures in compliance with the corporate governance code[37]. - The audit committee, consisting of three independent non-executive directors, has reviewed the unaudited consolidated financial statements for the six months ending June 30, 2024[40]. - The external auditor has reviewed the interim financial statements in accordance with the relevant auditing standards[41]. Future Outlook and Strategic Decisions - The company anticipates a challenging global economic environment and will adopt prudent measures to manage existing investments while seeking new opportunities[31]. - The company has not engaged in any major acquisitions or disposals of subsidiaries, associates, or joint ventures during the period[31]. - The company did not recommend any interim dividend for the six months ended June 30, 2024, consistent with the previous year[11]. - The company has no agreements or future plans for significant investments or capital assets as of the announcement date[32]. - There have been no significant post-period events up to the announcement date, ending June 30, 2024[33]. - No major transactions, arrangements, or contracts involving significant interests related to the company's business have been established during the period[34]. - No directors or their associates hold any interests in competitive businesses that require disclosure under the listing rules as of the announcement date[35]. - The company and its subsidiaries did not purchase, sell, or redeem any of its listed securities during the period[36]. Financing Activities - The company entered into three loan agreements with Mr. Sun Bo, totaling HKD 3,000,000, to support daily operations, with a repayment period extended to December 31, 2024[20]. - The company successfully placed 47,520,000 new ordinary shares at a price of HKD 0.15 per share, raising approximately HKD 7.13 million for general working capital and future investments[21]. Name Change - The company changed its name to "China Sci-Tech Industrial Investment Group Limited" as of June 19, 2024[23]. Contingent Liabilities - The company has no significant contingent liabilities or capital commitments as of June 30, 2024[30][26]. - The company has no outstanding mortgages on its assets as of June 30, 2024[29].

Financial Performance - The company recorded revenue of approximately HKD 227,000,000 for the year, an increase from HKD 173,000,000 in 2022, primarily due to increased dividend income from listed equity securities[7]. - Other income amounted to HKD 185,000,000, compared to zero in 2022, indicating a significant growth in revenue streams[7]. - The net loss attributable to owners was approximately HKD 7,361,000, an improvement from a loss of HKD 11,798,000 in the previous year, with basic loss per share decreasing from HKD 0.049 to HKD 0.030[7]. - The company's administrative and other operating expenses were approximately HKD 8,348,000, slightly up from HKD 8,213,000 in 2022[7]. - The fair value change of financial assets recorded a net gain of approximately HKD 661,000, compared to a loss of HKD 3,457,000 in the previous year, reflecting improved market conditions[7]. - Core Economy Investment Group reported a loss of approximately HKD 24.82 million for the first half of 2023, primarily due to unrealized losses on financial assets of about HKD 21.02 million[15]. - The company's unrealized losses on listed securities amounted to approximately HKD 18.63 million in H1 2023, compared to HKD 9.47 million in 2022[15]. - For the year ended December 31, 2023, the company's revenue was HKD 6,485,703, a decrease of 58.8% compared to HKD 15,724,250 in 2022[62]. - The company reported a pre-tax loss of HKD 7,360,719 for the year, improving from a loss of HKD 11,797,983 in the previous year[62]. - Total assets as of December 31, 2023, were HKD 14,000,981, slightly down from HKD 14,026,059 in 2022[63]. - Total liabilities increased to HKD 6,691,031 in 2023 from HKD 6,375,375 in 2022[63]. - The company's total equity decreased to HKD 7,309,950 in 2023 from HKD 7,650,684 in 2022[63]. - The company did not recommend any dividend for the year ended December 31, 2023, consistent with the previous year[60]. Investment Strategy - The company plans to maintain a prudent investment strategy while actively managing its portfolio to navigate market volatility and industry changes[10]. - The company’s investment strategy focuses on diversifying investments in listed and unlisted securities with profit potential, primarily in Hong Kong and China[53]. - The company plans to adopt a prudent approach to identify and assess investment opportunities while actively seeking long-term prospects to enhance its investment portfolio[15]. - The company has no plans for significant investments or capital assets as of the report date, but will consider future investment opportunities[38]. Market Conditions - The Hang Seng Index (HSI) and Hang Seng China Enterprises Index (HSCEI) fell by 13.8% and 14.0% respectively in 2023, indicating a challenging market environment[8]. - Tencent reported a 30% increase in international gaming revenue and a 23% growth in gross profit, highlighting strong performance in its sector[13]. - Alibaba's net income for the quarter ending December 31, 2023, was approximately RMB 10,717 million, a decrease of 77% from the same quarter in 2022, primarily due to asset impairments[12]. Shareholder Information - The company raised approximately HKD 7.13 million through a share placement, with a net amount of about HKD 7.02 million allocated for future investments and general operating funds[23][24]. - The share placement involved issuing 47,520,000 new shares at a price of HKD 0.15 per share, representing a discount of approximately 14.77% to the market price on the placement date[23][24]. - The company has confirmed that it possesses sufficient public float exceeding 25% of the issued share capital as per listing rules[99]. - The company has not engaged in any significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the reporting period[37]. - The company has not disclosed significant customer or supplier information as its revenue is primarily derived from investments in listed equity securities[57]. Corporate Governance - The board consists of two executive directors, three non-executive directors, and three independent non-executive directors, ensuring over one-third of the board members are independent[106]. - The board is responsible for managing the overall investment strategy and policies of the group, ensuring alignment with the company's investment objectives[107]. - The company has established mechanisms to ensure the independence of the board, including the appointment of at least three independent non-executive directors[111]. - The company has maintained compliance with relevant laws and regulations, with no significant violations reported for the year[55]. - The company has adopted a whistleblowing policy to enhance internal fairness and has not received any reported cases of misconduct for the year ended December 31, 2023[150]. - The company has appointed Yang Zhicheng as a non-executive director and vice chairman of the board effective October 19, 2023[75]. Employee Information - As of December 31, 2023, the total employee cost amounted to HKD 4,918,646, a slight decrease from HKD 4,980,000 in 2022[31]. - The total number of employees remains stable at 12 as of December 31, 2023, unchanged from the previous year[31]. - Approximately 88% of the board members and 75% of total employees are male, indicating a focus on gender diversity initiatives[146]. Environmental, Social, and Governance (ESG) - The company is committed to maintaining effective environmental, social, and governance (ESG) risk management practices[145]. - The board of directors is responsible for overseeing the company's ESG management policies, strategies, goals, risks, and opportunities[188]. - The company emphasizes the importance of a robust environmental, social, and governance (ESG) framework for sustainability and development[183]. - The company has established a risk-based management approach to assess and prioritize ESG-related issues, integrating them into ongoing risk management[190]. - The company aims to set appropriate and feasible ESG-related goals and indicators, monitoring their progress regularly[191]. - The company has committed to ensuring the report's accuracy, completeness, and reliability, with no false information or significant omissions[184]. - The company prioritizes sustainable development issues, focusing on investment and employee treatment and benefits, as well as occupational health and safety[198]. Audit and Compliance - The consolidated financial statements for the year ended December 31, 2023, were audited by Li Hsin Hui CPA Limited[103]. - The audit committee reviewed the integrity of the group's interim and annual consolidated financial statements for the year ended December 31, 2023[135]. - The external auditor's fees for audit services amounted to HKD 230,000, while non-audit services fees totaled HKD 70,000, including HKD 50,000 for the review of the interim report and HKD 20,000 for tax compliance services[154]. - The internal audit report indicated no significant deficiencies were found during the review of the internal control system[156]. - The board believes that the existing internal control system is sufficient and effective in safeguarding the company's assets and preventing violations[160].

Financial Performance - The total revenue for the year ended December 31, 2023, was HKD 226,592,000, an increase of 30.9% compared to HKD 172,943,000 in 2022[3] - Other income for the year was HKD 185,333,000, with no corresponding figure in 2022[3] - The net fair value change of financial assets recorded a significant improvement to HKD 660,852,000 from a loss of HKD 3,456,809,000 in the previous year[3] - The loss attributable to owners of the company for the year was HKD 7,360,719,000, a reduction of 37.6% from HKD 11,797,983,000 in 2022[3] - Basic and diluted loss per share improved to HKD (0.030) from HKD (0.049) in the previous year[3] - The company reported a loss attributable to shareholders of approximately HKD 7.36 million in 2023, an improvement from a loss of HKD 11.80 million in 2022[24] - The fair value change of financial assets measured at fair value through profit or loss resulted in a net gain of approximately HKD 661,000 in 2023, compared to a loss of HKD 3.46 million in 2022[24] - The basic loss per share was HKD 0.030 in 2023, compared to HKD 0.049 in 2022, reflecting the improved financial performance[18] Assets and Liabilities - Total assets as of December 31, 2023, were HKD 13,431,149,000, compared to HKD 12,066,820,000 in 2022, reflecting a growth of 11.3%[4] - Current liabilities increased to HKD 6,391,031,000 from HKD 6,049,490,000 in 2022[4] - The company's equity attributable to owners decreased to HKD 7,309,950,000 from HKD 7,650,684,000 in the previous year[4] - The group's total liabilities to equity ratio as of December 31, 2023, was 0.915, compared to 0.833 in 2022[28] - The group had accrued expenses and other payables of HKD 3,365,146 as of December 31, 2023, up from HKD 1,745,833 in 2022[28] Cash Flow and Investments - As of December 31, 2023, the group's cash and cash equivalents amounted to HKD 7,021,796, a significant increase from HKD 323,642 in 2022[28] - The company raised approximately HKD 7.13 million from the placement of 47,520,000 new shares at a price of HKD 0.15 per share, which represents a discount of about 14.77% to the market price on the placement date[32][33] - The net proceeds from the placement are intended to be used for future investments and general working capital, with approximately HKD 3.51 million allocated for investments and HKD 3.50 million for general operations[33] - The company experienced a realized loss of approximately HKD 3.80 million from the sale of listed securities, compared to a gain of approximately HKD 120,000 in the previous year[27] - The unrealized gain on financial assets was approximately HKD 4.46 million in 2023, compared to an unrealized loss of HKD 3.58 million in 2022[27] Operational Expenses - Administrative and other operating expenses increased slightly to HKD 8,348,478,000 from HKD 8,213,130,000 in 2022[3] - The company's total administrative and operating expenses were approximately HKD 8.35 million in 2023, slightly higher than HKD 8.21 million in 2022[24] - The total employee costs for the year ended December 31, 2023, were HKD 4,918,646, slightly down from HKD 4,980,000 in 2022[40] - The group has maintained a stable employee count of 12 as of December 31, 2023, consistent with the previous year[40] Corporate Governance and Compliance - The company has established corporate governance procedures in compliance with the relevant listing rules and has adhered to the applicable code provisions for the year ending December 31, 2023[51] - The audit committee, composed of three independent non-executive directors, has reviewed the audited consolidated financial statements for the year ending December 31, 2023[58] - The company will disclose its annual report containing all required information to shareholders at an appropriate time[60] Future Outlook and Events - The company continues to evaluate the potential impact of new accounting standards on its financial statements, with no significant effects anticipated from the recently adopted standards[11] - The management anticipates a challenging global economic environment and will adopt prudent measures to manage existing investments while seeking good investment opportunities to enhance shareholder returns[47] - No significant post-period events have occurred as of the announcement date[48] - The company has not engaged in any significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the reporting period[45] - The company has no agreements or future plans for significant investments or capital assets as of the announcement date[46] Dividends - The company did not recommend any dividend for the year ending December 31, 2023, consistent with the previous year[17] - The board does not recommend any dividend payment for the year ending December 31, 2023, consistent with the previous year[49] Securities Transactions - The company and its subsidiaries did not purchase, sell, or redeem any listed securities during the reporting period[50] - The company has no major investments that account for 5% or more of total assets as of December 31, 2023[44] - There are no significant transactions or arrangements involving directors with a material interest related to the company's business[54] - The company has sufficient public float, exceeding 25% of its issued share capital, as of the announcement date[52]

Financial Performance - The group recorded revenue of approximately HKD 194,000,000 for the six months ended June 30, 2023, compared to HKD 164,000,000 for the same period in 2022, representing an increase of 18.3%[8]. - Other income amounted to approximately HKD 185,000,000 for the current period, compared to zero in the previous year[8]. - The loss attributable to owners of the company was approximately HKD 2,255,000, a significant reduction from HKD 6,579,000 in the prior year, indicating a decrease in loss of 65.7%[8]. - Revenue for the six months ended June 30, 2023, was HKD 193,710,000, an increase of 17.8% compared to HKD 164,418,000 for the same period in 2022[61]. - Other income for the same period was HKD 185,333,000, with no corresponding figure in 2022[61]. - Loss before tax for the six months was HKD 2,254,948,000, a significant improvement from a loss of HKD 6,579,484,000 in the previous year, representing a reduction of approximately 65.7%[61]. - Basic and diluted loss per share improved to HKD 0.009 from HKD 0.027 year-on-year, reflecting a decrease in loss per share of approximately 66.7%[61]. - The company reported a net cash outflow from operating activities of HKD 601,788,000, compared to an outflow of HKD 676,647,000 in the previous year[66]. Expenses and Liabilities - The group's administrative and other operating expenses were approximately HKD 4,015,000, up from HKD 3,867,000 in 2022, reflecting an increase of 3.8%[8]. - Current liabilities increased to HKD 6,326,376,000 from HKD 6,049,490,000, indicating a rise of approximately 4.6%[63]. - The interest expense on lease liabilities for the six months ended June 30, 2023, was HKD 61,030, a decrease of 70.3% from HKD 129,086 in the same period of 2022[86]. Cash and Assets - As of June 30, 2023, the group's cash and cash equivalents were HKD 230,605,000, down from HKD 323,642,000 as of December 31, 2022, a decrease of 28.8%[13]. - The group's net asset value as of June 30, 2023, was HKD 5,395,249,000, compared to HKD 7,650,684,000 as of December 31, 2022, representing a decline of 29.5%[13]. - Total assets decreased to HKD 10,757,088,000 as of June 30, 2023, down from HKD 12,066,820,000 at the end of 2022, reflecting a decline of about 10.9%[63]. - The total equity attributable to owners decreased to HKD 5,395,249,000 from HKD 7,650,684,000, a decline of about 29.5%[63]. Investments and Market Outlook - The investment market outlook remains cautious due to potential economic downturns and inflation concerns, with a recommendation for investors to be prudent in evaluating valuations and fundamentals[10]. - The company has not reported any new product launches or significant market expansion strategies during this period[68]. - The company has not engaged in any fundraising activities during the current period[15]. - The management anticipates a challenging global economic environment in the future and will adopt prudent measures to manage existing investments[26]. - The company has not entered into any arrangements for the purchase of its own shares or debt securities during the reporting period[44]. Shareholder Information - The stock option plan allows for the issuance of up to 11,600,000 shares, representing approximately 4.82% of the issued share capital as of June 30, 2023[34]. - The company’s directors and key executives hold a total of 58,075,000 shares, representing approximately 24.15% of the issued share capital as of June 30, 2023[40]. - Major shareholders include Hong Kong Kintai Fung Group Limited holding 57,950,000 shares, representing 24.10% of the issued share capital as of June 30, 2023[42]. - Sun Oxford Co., Limited holds 27,800,000 shares, accounting for 11.56% of the issued share capital[42]. Corporate Governance and Compliance - The company has complied with the corporate governance code as per the listing rules throughout the six months ending June 30, 2023[49]. - The audit committee reviewed the group's unaudited condensed consolidated financial statements for the six months ending June 30, 2023[51]. - The external auditor conducted a review of the financial statements in accordance with the relevant standards[52]. Changes in Management - Liu Li resigned as a non-executive director, and Yan Jia was appointed as a non-executive director effective May 12, 2023[47]. Fair Value and Financial Assets - The fair value of financial assets classified as "fair value through profit or loss" as of June 30, 2023, is HKD 10,306,930, compared to HKD 11,413,341 as of December 31, 2022, indicating a decrease of approximately 9.7%[79]. - The fair value of suspended listed equity securities is HKD 66,200 as of June 30, 2023, down from HKD 1,078,200 as of December 31, 2022, reflecting a significant decline[79]. - The fair value of listed equity securities (excluding suspended stocks) was HKD 10,240,730 as of June 30, 2023, compared to HKD 9,462,159 as of December 31, 2022[92]. - The company reported a net unrealized gain of HKD 2,140,479 for the six months ended June 30, 2023, compared to a net unrealized loss of HKD 3,716,228 for the same period in 2022[85]. Tax and Contingent Liabilities - As of June 30, 2023, the company had unutilized tax losses of HKD 106,628,362, up from HKD 101,719,030 as of December 31, 2022[88]. - The company has no significant contingent liabilities as of June 30, 2023, consistent with the previous year[25]. Other Notable Information - There were no significant acquisitions or disposals related to subsidiaries, associates, or joint ventures during the period[27]. - The company has not pledged any assets as of June 30, 2023, remaining unchanged from December 31, 2022[23]. - There were no major post-reporting period events up to the report date[53].

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。 Core Economy Investment Group Limited 核 心 經 濟 投 資 集 團 有 限 公 司 （於百慕達存續之有限公司） （股份代號：339） 截至二零二三年六月三十日止六個月 中期業績公告 核心經濟投資集團有限公司（「本公司」，連同其附屬公司統稱「本集團」）董事（「董 事」，各為一名「董事」）會（「董事會」）欣然提呈本集團截至二零二三年六月三十 日止六個月（「本期間」）之未經審核綜合中期業績，連同二零二二年同期之比較數 字如下： 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 （未經審核） 截至六月三十日止六個月 附註 二零二三年 二零二二年 港元 港元 收益 4 193,710 164,418 其他收入 5 185,333 – 按公平值計入在損益賬之金融資產 公平值變動淨額 6 1,442,041 (2,671,934) ...

Financial Performance - The group recorded revenue of approximately HKD 173 million for the year, a decrease from HKD 186 million in the previous year[7]. - The loss attributable to owners of the company was approximately HKD 11.798 million, compared to a loss of HKD 14.992 million in the previous year, with a basic loss per share of HKD 0.049[7]. - Administrative and other operating expenses were approximately HKD 8.213 million, down from HKD 9.016 million in the previous year[7]. - The net loss from fair value changes of financial assets recorded in profit or loss was approximately HKD 3.457 million, an improvement from a loss of HKD 5.546 million in the previous year[7]. - The company's revenue for the year ended December 31, 2022, was HKD 15,724,250, a significant decrease of 64.6% compared to HKD 44,394,813 in 2021[67]. - The pre-tax loss for the year was HKD (11,797,983), an improvement from the loss of HKD (14,991,938) in the previous year[67]. - Total assets as of December 31, 2022, were HKD 14,026,059, down from HKD 22,756,774 in 2021, representing a decline of 38.5%[68]. - Total liabilities increased to HKD (6,375,375) in 2022 from HKD (3,307,438) in 2021, marking a rise of 92.5%[68]. - The company's total equity decreased to HKD 7,650,684 in 2022 from HKD 19,449,336 in 2021, a decline of 60.7%[68]. - The company did not recommend any dividend for the year ended December 31, 2022, consistent with the previous year[63]. - As of December 31, 2022, the distributable reserves available for shareholders were zero, unchanged from 2021[64]. - The group faces foreign exchange risks due to transactions denominated in RMB and USD, with no current hedging policies in place[37]. Investment Strategy - The company's investment portfolio includes Tencent Holdings, Alibaba Group, and Meta Platforms, among others, indicating a diversified investment strategy[8]. - Dingli Capital has entered a strategic cooperation memorandum with a gold group to explore opportunities in mineral development and chain store business, indicating a focus on market expansion[14]. - The company will continue to seek and evaluate good investment opportunities to enrich its portfolio and maximize shareholder returns[47]. - The company did not have any major investments or capital asset agreements as of the report date, but will consider future investment opportunities[46]. Economic Outlook - The economic outlook remains uncertain, with expectations of continued volatility, but potential for growth as inflation stabilizes and government policies may shift towards easing[8]. - The management anticipates a challenging global economic environment in the near term and will adopt prudent measures to manage existing investments[47]. Corporate Governance - The board consists of two executive directors, two non-executive directors, and three independent non-executive directors as of December 31, 2022[115]. - The board is committed to maintaining a high level of corporate governance and has adopted the corporate governance code as per the listing rules[114]. - The company ensures that at least one independent non-executive director possesses appropriate professional qualifications or accounting knowledge[120]. - The independent non-executive directors do not receive performance-related equity remuneration to maintain their objectivity and independence[122]. - The board has established committees, including the audit committee, remuneration committee, and nomination committee, to oversee specific areas of the group's affairs[128]. - The nomination committee has the authority to seek independent professional advice when necessary[129]. - All directors are encouraged to participate in continuous professional development to enhance their knowledge and skills[117]. - The company has a mechanism in place to ensure independent viewpoints are obtained within the board[120]. - The board is responsible for the overall strategy development and monitoring of the company's financial performance[115]. - The company has adopted a nomination policy to ensure a balanced skill set, experience, and diversity within the board of directors[133]. - The nomination committee evaluates candidates based on multiple criteria, including character, qualifications, and willingness to commit time[133]. - The company has not made any changes to the board structure during the year[135]. - The remuneration committee reviews and recommends compensation policies for directors and senior management, considering individual performance and market practices[141]. - The audit committee monitors the integrity of the group's financial statements and reviews the effectiveness of financial controls and risk management systems[145]. - The audit committee held at least two meetings during the year with external auditors present[143]. - The company has established a remuneration policy that includes provisions for compensation arrangements related to termination or dismissal of directors[141]. - The nomination committee meets at least once a year and can convene additional meetings as necessary[132]. - The company ensures that no director participates in determining their own remuneration[141]. - The audit committee reviews the independence and objectivity of external auditors[145]. - The board of directors attended 100% of the annual general meeting and 100% of the board meetings, with all executive directors present at all meetings[147]. - Approximately 86% of the board members and 75% of total employees are male, indicating a need for further diversity initiatives[150]. - The company has adopted a board diversity policy, focusing on various aspects such as experience, skills, gender, and cultural background[150]. Risk Management - The company has faced significant risks and uncertainties, which are discussed in the management discussion and analysis section of the report[60]. - The board is responsible for ensuring the effectiveness of the internal control and risk management systems, which are designed to identify and manage risks[160]. - The company employs a business risk model for risk assessment, identifying strategic, operational, financial, and information risks, and prioritizing them based on qualitative and quantitative evaluations[164]. - The board believes that the existing internal control system is sufficient and effective in safeguarding the company's assets and preventing violations, thus protecting shareholders' interests[166]. - The company has implemented a whistleblowing policy to enhance internal fairness and control mechanisms, with no reported cases of misconduct for the year[153]. - The internal audit report found no significant deficiencies in the internal control system, which helps prevent unauthorized use of assets and ensures compliance with relevant laws and regulations[161]. - The audit plan for the next three years will be determined based on the results of the risk assessment and discussions with the audit committee[164]. - The board has set goals and policies to manage the financial risk exposure faced by the company, as detailed in the financial statements[167]. Environmental, Social, and Governance (ESG) - The company is committed to maintaining environmental and social standards, promoting sustainability through initiatives like paperless operations[38]. - The board is responsible for the company's environmental, social, and governance (ESG) risk management and internal control systems to ensure compliance with ESG strategies and reporting requirements[170]. - The company has established multiple channels for communication with shareholders, ensuring they receive comprehensive and understandable information regarding financial performance and strategic goals[177]. - The company emphasizes the importance of a robust environmental, social, and governance (ESG) framework for sustainability and ongoing development[197]. - The company aims to enhance data collection efforts to improve ESG performance and disclose more relevant information on sustainable development[197]. - The ESG report covers the operational scope in Hong Kong for the period from January 1, 2022, to December 31, 2022[191]. - The report is prepared in accordance with the Hong Kong Stock Exchange's ESG reporting guidelines, focusing on principles of materiality, quantification, balance, and consistency[192]. - The board reviewed and approved the ESG report on March 29, 2023, confirming its completeness and fairness[194]. - The company encourages stakeholder feedback regarding the ESG report and its performance in sustainable development[197]. - The board employs a risk-based management approach to assess and prioritize ESG-related issues[200]. - The company maintains regular communication with stakeholders through channels such as the annual general meeting[190]. - The company is committed to balancing shareholder interests with social responsibilities[197].

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。 Core Economy Investment Group Limited 核 心 經 濟 投 資 集 團 有 限 公 司 （於百慕達存續之有限公司） （股份代號：339） 截至二零二二年十二月三十一日止年度 全年業績公告 核心經濟投資集團有限公司（「本公司」，連同其附屬公司統稱「本集團」）董事（「董 事」，各為一名「董事」）會（「董事會」）欣然宣佈，本集團截至二零二二年十二月 三十一日止年度之經審核綜合業績，連同二零二一年同期之比較數字如下： 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 港元 港元 收益 4 172,943 186,198 按公平值計入在損益賬之金融資產 公平值變動淨額 5 (3,456,809) (5,546,092) 行政及其他經營開支 (8,213,130) (9,016,170) 財務成本 6 (300,987) (615,874 ...

Financial Performance - The group recorded revenue of approximately HKD 164,000, compared to HKD 75,000 in the same period last year, indicating a significant increase[11]. - Revenue for the six months ended June 30, 2022, was HKD 164,418,000, compared to HKD 74,721,000 for the same period in 2021, representing a 119.9% increase[83]. - The loss attributable to owners was approximately HKD 6,579,000, up from HKD 3,259,000 in the previous year, with a basic loss per share of HKD 0.027[11]. - The loss before tax for the six months ended June 30, 2022, was HKD 6,579,484,000, compared to a loss of HKD 3,258,752,000 in the same period of 2021, indicating a 102.5% increase in losses[83]. - Total comprehensive loss for the period was HKD 6,579,925,000, compared to HKD 3,258,958,000 in the previous year, reflecting a 102.5% increase[83]. - Basic and diluted loss per share for the six months ended June 30, 2022, was HKD 0.027, compared to HKD 0.014 for the same period in 2021, indicating a 92.9% increase in loss per share[83]. Expenses and Costs - Administrative and other operating expenses were approximately HKD 3,867,000, down from HKD 4,837,000 in the previous year[12]. - Total employee costs for the six months ended June 30, 2022, amounted to HKD 2,421,000, a decrease from HKD 2,637,859 in the previous year[27]. - The company incurred finance costs of HKD 204,962 for the six months ended June 30, 2022, compared to HKD 270,924 in the previous year[134]. Assets and Liabilities - Total assets as of June 30, 2022, were HKD 14,669,000,000, down from HKD 19,408,131,000 as of December 31, 2021, representing a decrease of 24.5%[87]. - Net assets attributable to equity holders as of June 30, 2022, were HKD 12,869,411,000, compared to HKD 19,449,336,000 as of December 31, 2021, indicating a decline of 33.8%[87]. - Current liabilities increased to HKD 3,457,296,000 as of June 30, 2022, from HKD 1,677,896,000 as of December 31, 2021, representing a 106.5% increase[87]. - Non-current liabilities decreased to HKD 996,234,000 as of June 30, 2022, from HKD 1,629,542,000 as of December 31, 2021, reflecting a decrease of 38.9%[87]. Cash Flow - Operating cash flow for the period was HKD (841,065) thousand, compared to HKD 2,409,366 thousand in the previous period, indicating a significant decrease[96]. - Net cash used in operating activities was HKD (676,647) thousand, down from HKD 2,484,087 thousand year-over-year[96]. - Cash and cash equivalents as of June 30, 2022, were HKD 1,471,748,000, compared to HKD 1,419,050,000 as of December 31, 2021, showing a slight increase of 3.7%[87]. - The company reported a significant decrease in interest income received, down to HKD 20 thousand from HKD 694 thousand[96]. Investments - The group has no major investments or capital asset agreements signed as of the report date, but will explore potential investment opportunities[34]. - The group’s investment strategy focuses on achieving return growth and capital appreciation through investments in listed equity securities and non-listed debt securities[154]. - The fair value of listed equity securities (excluding suspended securities) was HKD 11,851,276, while suspended securities had a fair value of HKD 1,141,156[119]. Corporate Governance - The company has adopted corporate governance principles that comply with the best interests of the company and its shareholders[66]. - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited consolidated financial statements for the six months ended June 30, 2022[69]. - The company has complied with the corporate governance code provisions during the six months ended June 30, 2022[66]. Shareholder Information - Major shareholder Hong Kong Jintai Feng Group Limited holds 57,950,000 shares, representing 24.10% of the issued share capital as of June 30, 2022[55]. - Sun Oxford Co., Limited, owned by Mr. He Yu, holds 27,800,000 shares, accounting for 11.56% of the issued share capital[55]. - The total number of issued shares as of June 30, 2022, was 240,480,000, unchanged from December 31, 2021[177]. Future Outlook - The management anticipates a challenging global economic environment in the future and will adopt prudent measures to manage existing investments[35]. - The company continues to monitor the impact of the COVID-19 pandemic on its financial performance, which remains uncertain[184].

Financial Performance - The company recorded revenue of approximately HKD 186,000,000 for the year, a decrease from HKD 619,000,000 in the previous year[10] - The loss attributable to the company's owners was approximately HKD 14,992,000, compared to HKD 9,091,000 in the previous year, with a basic loss per share of HKD 0.063[10] - The group's administrative and other operating expenses were approximately HKD 9,016,000, down from HKD 10,944,000 in the previous year[10] - The net loss from fair value changes of financial assets recognized in profit or loss was approximately HKD 5,546,000, compared to a gain of HKD 1,353,000 in the previous year[10] - The company reported a revenue of HKD 44,394,813 for the year ended December 31, 2021, an increase from HKD 40,935,914 in 2020, representing a growth of approximately 11.3%[67] - The company incurred a loss attributable to owners of the company of HKD 14,991,938 for the year ended December 31, 2021, compared to a loss of HKD 9,090,504 in 2020, indicating a deterioration in performance[67] - Total assets decreased to HKD 22,756,774 in 2021 from HKD 27,732,001 in 2020, reflecting a decline of approximately 18%[67] - Total liabilities increased significantly to HKD 3,307,438 in 2021 from HKD 750,061 in 2020, marking a rise of over 340%[67] - The company did not recommend the payment of dividends for the year ended December 31, 2021, consistent with the previous year[64] - The company’s total equity decreased to HKD 19,449,336 in 2021 from HKD 26,981,940 in 2020, a decline of approximately 28.3%[67] Investment Strategy - The investment portfolio includes major holdings in Tencent, Alibaba, Meituan, and JD.com, among others, reflecting a diversified investment strategy[11] - The company aims to monitor the market cautiously and focus on a diversified investment portfolio to capture growth opportunities[11] - The company primarily focuses on investments in listed and unlisted securities, aiming for capital appreciation and income generation through diversified investments[60] Economic and Market Conditions - The ongoing COVID-19 pandemic continues to impact the global economy, with uncertainties arising from new variants and geopolitical tensions affecting future performance[11] - The management anticipates a challenging global economic outlook and will adopt prudent measures to manage existing investments[46] Corporate Governance - The company emphasizes high standards of corporate governance and adheres to the corporate governance code as per the listing rules[117] - The board consists of two executive directors, two non-executive directors, and three independent non-executive directors as of December 31, 2021[118] - Independent non-executive directors make up more than one-third of the board, ensuring adequate oversight and independence[118] - The company has established three committees: audit, remuneration, and nomination, to oversee specific areas of governance[125] - The company has adopted a nomination policy to ensure a balanced skill set and experience within the board of directors[133] - The remuneration committee has reviewed and recommended compensation policies for directors and senior management, ensuring no director participated in determining their own compensation[140] - The audit committee held at least two meetings annually, reviewing the group's financial controls and risk management systems[143] Shareholder Communication - The company has established multiple communication channels with shareholders, including printed annual reports and mid-term reports, which are also available on the company's and stock exchange's websites[177] - The company maintains a shareholder communication policy to ensure that shareholders and stakeholders can access comprehensive and understandable information regarding financial performance and strategic goals[178] - The company’s annual general meeting serves as a primary opportunity for shareholders to exchange views with the board, with key members present to address shareholder inquiries[174] - The company has established a process for shareholders to propose resolutions at general meetings, requiring written proposals to be submitted at least 60 days prior to the meeting[181] ESG Commitment - The board emphasizes the importance of a robust environmental, social, and governance (ESG) framework for the company's sustainability and ongoing development[196] - The company aims to balance shareholder interests with social responsibilities while enhancing data collection for better ESG performance disclosure[196] - The board is the highest decision-making body for ESG management, overseeing policies, strategies, risks, and opportunities related to ESG[197] - A risk-based management approach is adopted by the board to assess and prioritize ESG-related issues, enhancing the effectiveness of risk management[199] - The company is committed to improving its ESG performance and welcomes feedback on its sustainability efforts[196] Financial Management - The group had no significant contingent liabilities as of December 31, 2021[43] - The group has no major capital commitments as of December 31, 2021[36] - The company raised a total of HKD 7.54 million from the placement of 40,080,000 new shares at HKD 0.188 per share[27] - The net amount raised from fundraising activities as of December 31, 2021, was HKD 6.96 million for future investments and business development, and HKD 0.50 million for general working capital[31] - The total employee cost for the year ended December 31, 2021, was HKD 5,196,859, an increase from HKD 4,980,000 in 2020[39] - The group's capital expenditure for the year ended December 31, 2021, was HKD 86,550, significantly lower than HKD 651,199 in 2020[35] - The group's total liabilities as of December 31, 2021, included lease liabilities of HKD 2,493,106, up from HKD 277,602 in 2020[31] - The capital-to-equity ratio as of December 31, 2021, was 0.170, compared to 0.028 in 2020[31] Risk Management - The risk management process utilizes a business risk model to identify and assess strategic, operational, financial, and information risks[166] - The board is responsible for ensuring the effectiveness of the internal control and risk management systems to protect shareholder investments[163] - The internal audit review found no significant deficiencies in the internal control system across all reviewed areas[164] - The board evaluated the effectiveness and adequacy of the internal control and risk management systems as of December 31, 2021, concluding that the existing systems are sufficient and effective in safeguarding the company's assets and protecting shareholders' interests[168]