近期，国际金价持续走高，黄金股涨势如虹。 今日，港、A黄金股继续大涨，A股湖南黄金涨停，湖南白银涨超5%，山金国际涨超4%，赤峰黄金涨超3%，西部黄金、山东黄金涨超2%。 | 代码 | 名称 | 现价 . | 涨跌 涨幅 | | --- | --- | --- | --- | | 002155 湖南黄金 | | 25.20 | +2.29 +10.00% | | 002716 湖南白银 | | 3.76 | +0.20 +5.62% | | 000975 山金国际 | | 20.88 | +0.85 +4.24% | | 600988 赤峰黄金 | | | 26.72 +1.02 +3.97% | | 002237 恒邦股份 | | 11.09 | +0.39 +3.64% | | 000506 *ST中润 | | 5.75 | +0.18 +3.23% | | 601069 西部黄金 | | 17.88 | +0.51 +2.94% | | 600547 山东黄金 | | 30.44 | +0.79 +2.66% | | 300139 晓程科技 | | 18.63 | +0.43 +2.36% | | 60 ...

作 者丨 易妍君 编 辑丨包芳鸣 黎雨桐 4月9日，A股港股、亚太股市集体低开。 截至发稿，上证指数跌超2%，深证成指跌超3%，创业板指跌超3%。 | 上证指数 | 深证成指 | 北证50 | | --- | --- | --- | | 3075.75 | 9138.12 | 1069.49 | | -69.80 -2.22% -286.56 -3.04% -24.90 -2.28% | | | | 科创50 | 创业板指 | 万得全A | | 920.49 | 1782.94 | 4514.46 | | -19.60 -2.09% -57.37 -3.12% | | -160.08 -3.42% | | 沪深300 | 中证500 | 中证A500 | | 3594.22 | 5141.90 | 4170.06 | | -56.54 -1.55% -185.02 -3.47% -89.25 -2.10% | | | | 中证1000 | 中证2000 | 中证红利 | | 5232.41 | 2027.20 | 5144.99 | | -297.60 -5.38% -155.92 -7.14% | | -1 ...

Financial Performance - Profit attributable to owners for the year ended December 31, 2024, was approximately HKD 211 million, a 310% increase from about HKD 51 million in 2023[4] - Revenue for the year ended December 31, 2024, was approximately HKD 1,604 million, a 7% increase from about HKD 1,497 million in 2023[4] - Earnings per share for 2024 was HKD 5.19, compared to HKD 1.39 in 2023[7] - Gross profit for 2024 was approximately HKD 523 million, compared to HKD 168 million in 2023[5] - Total comprehensive income for the year was HKD 157 million, up from HKD 35 million in 2023[7] - The total segment profit for the fiscal year 2024 was HKD 523,191,000, a significant increase from HKD 167,878,000 in 2023, reflecting a growth of approximately 212.5%[25] - The company reported a pre-tax profit of HKD 307,017,000 for the fiscal year 2024, compared to HKD 74,924,000 in 2023, marking an increase of approximately 309.5%[25] - The net profit for the year 2024 was HKD 210,138,000, significantly higher than HKD 60,034,000 in the previous year, representing a growth of approximately 249.1%[25] - The group reported a pre-tax profit of HKD 211,136,000 for 2024, compared to HKD 51,454,000 in 2023, marking a substantial increase of 310.5%[41] Revenue Breakdown - The gold mining segment generated revenue of HKD 1,302,774,000, while the gold recycling segment contributed HKD 302,047,000, indicating a strong performance in both areas[25] - Revenue from gold mining operations reached HKD 1,302,774,000 in 2024, up 104.3% from HKD 637,693,000 in 2023[27] - Revenue from gold recycling decreased to HKD 302,047,000 in 2024 from HKD 859,543,000 in 2023, a decline of 64.9%[27] - Major customer A contributed HKD 875,479,000 to total revenue in 2024, significantly up from HKD 326,238,000 in 2023, representing a growth of 168.5%[29] Dividends and Shareholder Returns - The proposed final dividend for the year ended December 31, 2024, is HKD 0.012 per share, reflecting the company's confidence in its performance[4] - The proposed final dividend for the year ending December 31, 2024, is HKD 0.012 per share, totaling approximately HKD 48,843,000, compared to no dividend in 2023[40] - The company proposed a final dividend for the fiscal year 2024, reflecting confidence in its long-term prospects amid global uncertainties[61] Assets and Liabilities - Non-current assets totaled approximately HKD 4,131 million as of December 31, 2024, compared to HKD 4,191 million in 2023[9] - Current liabilities increased to approximately HKD 1,282 million in 2024 from HKD 1,031 million in 2023[10] - Net assets amounted to approximately HKD 2,619 million as of December 31, 2024, compared to HKD 2,461 million in 2023[10] - The company has a net current liability of approximately HKD 819,557,000 as of December 31, 2024, compared to HKD 666,856,000 in 2023, indicating an increase in financial obligations[20] - As of December 31, 2024, the total assets and net assets of the group were approximately HKD 4,593,704,000 and HKD 2,618,967,000, respectively, compared to HKD 4,554,860,000 and HKD 2,461,419,000 in 2023[80] Operational Developments - The company has commenced gold bar sales and has integrated the acquisition of Hong Yong Investment Limited and its subsidiaries into its gold mining segment, enhancing its operational capabilities[22] - The group completed the construction of a tailings storage facility on schedule, which temporarily halted operations at the Tongguan County processing plant, leading to a decrease in gold sales in that region[57] - The group expects the acquisition of Huasheng Construction Investment Co., Ltd. to bring synergies to its business, completed in January 2025[57] - The group plans to enhance its exploration activities for mining licenses to maximize the potential value of its mining areas, which are located in favorable geological environments[60] - The group aims to increase its resource reserves through strategic acquisitions of quality gold assets domestically and internationally[60] - The group has implemented various measures to ensure environmental sustainability and safety in production, including the automation and technological upgrades of underground mining and processing equipment[58] Employee and Financial Costs - Total employee costs rose to HKD 48,528,000 in 2024 from HKD 31,699,000 in 2023, an increase of 53.1%[35] - The group incurred financial costs of HKD 30,821,000 in 2024, up from HKD 22,403,000 in 2023, reflecting an increase of 37.5%[35] Compliance and Governance - The company has adopted the standard code of conduct for securities trading by directors as per Appendix C3 of the Listing Rules[95] - The audit committee consists of independent non-executive directors, including Mr. Liang Jiahe, Mr. Zhu Gengnan, and Mr. Liang Xushu, who have reviewed the consolidated financial performance for the year ending December 31, 2024[96] - The company has confirmed compliance with the standard code of conduct regarding securities trading by all directors as of December 31, 2024[95] Future Outlook - The company is actively evaluating the impact of the new Hong Kong Financial Reporting Standards on its consolidated financial statements, which are expected to affect future disclosures[17] - The company plans to continue discussions with financial institutions to ensure sufficient funding for operational and financial requirements in the foreseeable future[20] - The company continues to monitor market conditions and review the adequacy of impairment provisions[46] Miscellaneous - The company expresses gratitude to shareholders for their support and to all staff for their contributions over the past year[101] - The annual report for 2024 will be available on the company's website and the designated website of the stock exchange at an appropriate time[100] - The board of directors includes both executive and independent non-executive members as of March 24, 2025[103]

Financial Performance - The company recorded revenue of approximately HKD 849,951,000 for the six months ended June 30, 2024, representing an increase of about 25.6% compared to HKD 676,548,000 for the same period in 2023[4]. - Gold mining revenue was approximately HKD 644,847,000, a significant increase of about 235.1% from HKD 192,423,000 in the same period last year, driven by higher average gold prices and increased sales volume[6]. - The average gold price per gram rose from approximately RMB 435 to RMB 499 during the reporting period, contributing to the revenue growth[6]. - The company reported a profit attributable to shareholders of approximately HKD 91,956,000, a substantial increase of about 560.1% compared to HKD 13,930,000 in the previous year[4]. - The group achieved a revenue and net profit growth of approximately 26% and 464%, respectively, compared to the same period in 2023, primarily due to the acquisition of Hong Yong Investment Limited and its subsidiaries[21]. - The gross profit for the same period was HKD 218,758,000, significantly up from HKD 49,565,000, indicating a gross margin improvement[25]. - Profit before tax surged to HKD 132,811,000, compared to HKD 22,720,000 in the previous year, reflecting a substantial growth of 484.5%[25]. - Net profit for the period was HKD 90,700,000, a remarkable increase from HKD 16,080,000, marking an increase of 463.5%[26]. - Basic and diluted earnings per share rose to HKD 2.26, compared to HKD 0.41 in the prior year[26]. Expenses and Costs - Total administrative and other expenses increased by approximately 220.3% to HKD 72,610,000, primarily due to one-time costs and expenses from the recently acquired Hong Yong Group[4]. - Financial costs increased by approximately 206.1% to HKD 15,529,000, mainly due to interest expenses from bank borrowings of the acquired Hong Yong Group[4]. - The administrative and other expenses increased to HKD 72,610,000 for the six months ended June 30, 2024, compared to HKD 22,669,000 in the previous year, reflecting higher operational costs[44]. - The income tax expense for the six months ended June 30, 2024, was HKD 42,111,000, a significant increase from HKD 6,640,000 in the same period of 2023[53]. Assets and Liabilities - As of June 30, 2024, the total assets and net assets of the group were approximately HKD 4,609,167,000 and HKD 2,540,552,000, respectively, compared to HKD 4,554,860,000 and HKD 2,461,419,000 as of December 31, 2023[12]. - The total bank borrowings and other borrowings amounted to approximately HKD 533,976,000 as of June 30, 2024, a slight decrease from HKD 563,710,000 as of December 31, 2023, with a debt-to-equity ratio of approximately 22.3%[13]. - The company reported a net current liability of approximately HKD 804,280,000 as of June 30, 2024[34]. - The company’s total liabilities decreased to HKD 953,978,000 as of June 30, 2024, from HKD 1,017,182,000 as of December 31, 2023[67]. - The current portion of borrowings increased to HKD 497,305,000 as of June 30, 2024, from HKD 416,131,000 as of December 31, 2023[67]. Cash Flow - For the six months ended June 30, 2024, the net cash generated from operating activities was HKD 238,703,000, compared to a net cash used of HKD 46,241,000 in the same period last year[31]. - The net cash used in investing activities was HKD 21,788,000, an increase from HKD 17,733,000 in the previous year[31]. - The net cash used in financing activities amounted to HKD 179,657,000, compared to HKD 4,827,000 in the prior year[31]. - As of June 30, 2024, the cash and cash equivalents totaled HKD 194,947,000, up from HKD 73,792,000 at the same time last year[31]. Shareholder Information - The group has issued 4,070,272,221 ordinary shares, with total shareholder equity amounting to approximately HKD 407,027,000 as of June 30, 2024[16]. - Major shareholder Jiang Wei holds 1,186,334,000 shares, representing 29.15% of the total issued share capital[85]. - Major shareholder Lin Changdong owns 600,000,000 shares, accounting for 14.74% of the total issued share capital[85]. - The company did not declare an interim dividend for the six months ended June 30, 2024[91]. Operational Highlights - The total mining output for the period was 275.96 thousand tons, with an average gold grade of 5.48 grams per ton[8][9]. - The company plans to continue its exploration and development activities, with significant drilling and exploration efforts reported during the period[9]. - The group plans to complete the construction of the tailings plant in Tongguan County in the second half of 2024, which is expected to drive higher revenue and net profit[21]. - The company completed the acquisition of Hong Yong Investment Limited and its subsidiaries in July 2023, which has been consolidated into the gold mining segment's performance[41]. Governance and Compliance - The company is committed to adhering to corporate governance best practices as per the Hong Kong Stock Exchange regulations[73]. - The audit committee consists of three independent non-executive directors responsible for ensuring the quality and integrity of internal controls and financial reporting[80]. - The company has not entered into any arrangements that would allow directors to benefit from purchasing shares or bonds of the company[84].

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之內容概不負責，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分內容 而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 潼 關 黃 金 集 團 有 限 公 司 Tongguan Gold Group Limited （於百慕達註冊成立之有限公司） （股份代號：00340） 截至二零二四年六月三十日止六個月 中期業績公佈 潼關黃金集團有限公司（「本公司」）董事會（「董事會」）公佈本公司及其附屬公司（「本集團」） 截至二零二四年六月三十日止六個月之未經審核綜合業績，連同二零二三年同期之比較 數字如下： 簡明綜合損益及其他全面收益表 截至二零二四年六月三十日止六個月 | --- | --- | --- | --- | |-----------------------|-------|--------------------------------------|----------------------------------| | | 附註 | 二零二四年 \n千港元 （未經審核） | 二零二三年 \n千港元 （未經審核） ...

Financial Performance - For the fiscal year ended December 31, 2023, the company's revenue was approximately HKD 1,497,236,000, an increase of about 20% compared to HKD 1,244,864,000 in 2022[35]. - The company's net profit attributable to shareholders for the fiscal year was approximately HKD 51,454,000, a 2% increase from HKD 50,340,000 in 2022[9]. - The gross profit for the fiscal year was approximately HKD 167,878,000, up about 20% from HKD 139,495,000 in 2022, primarily due to contributions from Hongyong Group[37]. - The average selling price of gold increased from RMB 380 per gram in 2022 to RMB 454 per gram in 2023, contributing to revenue growth[11]. - The company's net other income for the fiscal year was approximately HKD 2,906,000, compared to a net loss of HKD 1,161,000 in 2022[26]. - The net asset value per share increased by 1% from HKD 0.599 in 2022 to HKD 0.605 in 2023[10]. Production and Costs - For the year ended December 31, 2023, the total mining production was 363.30 thousand tons, with an average gold grade of 4.13 grams per ton[38]. - The processing mining production was 376.95 thousand tons, with an average gold grade of 3.86 grams per ton, resulting in a total gold output of 1,359.80 kilograms[38]. - The sales volume of gold bars was approximately 1.95 tons, generating a revenue of about HKD 859,543,000, with a cost of sales of approximately HKD 858,590,000, resulting in a gross profit of HKD 953,000[45]. - The sales cost increased by approximately 76% to HKD 470,768,000, primarily due to a decrease in the average gold grade from 5.15 grams per ton in 2022 to 3.60 grams per ton in 2023[59]. - Exploration and mining expenses totaled HKD 335,045,000, with exploration and development costs at HKD 115,932,000 and mining costs at HKD 219,113,000[7]. Assets and Liabilities - As of December 31, 2023, the total assets and net assets of the group were approximately HKD 4,554,860,000 and HKD 2,461,419,000, respectively[46]. - As of December 31, 2023, the group had cash and cash equivalents of approximately HKD 157,887,000, an increase from HKD 143,105,000 in 2022[63]. - As of December 31, 2023, the group's bank and other borrowings amounted to approximately HKD 563.71 million, a significant increase from HKD 160.91 million in 2022[86]. - The group's debt-to-equity ratio rose to 23.6% in 2023, up from 8.5% in 2022, reflecting increased leverage due to the acquisition of Hongyong Group[86]. Employee and Operational Information - The group employed approximately 420 employees in mainland China and 8 employees in Hong Kong as of December 31, 2023[51]. - The employee costs for the group amounted to approximately HKD 31,699,000, an increase from HKD 23,873,000 in 2022[69]. - The group plans to suspend operations at the Tongguan County mineral processing plant in March 2024 for approximately six months to comply with new government regulations, while mining activities will continue[99]. Corporate Governance - The board of directors will continue to regularly review and supervise the company's corporate governance practices to ensure compliance with relevant listing rules and maintain a high level of corporate governance[118]. - The company has adopted corporate governance policies that comply with established best practices, ensuring the enhancement of group effectiveness and performance[134]. - The board aims to achieve gender equality by actively seeking female candidates for board positions, with a target to appoint at least one female board member by the end of 2024[194]. - The company has adopted a diversity policy to ensure a balanced representation of skills and experiences on the board, enhancing its effectiveness[181][195]. - The company has complied with the principles and code provisions of the corporate governance code as per the Hong Kong Stock Exchange rules for the fiscal year ending December 31, 2023[134]. Risk Management and Compliance - The company maintains a robust risk management and internal control system to safeguard shareholder investments and group assets, with the board responsible for its oversight[198]. - The board has reviewed the effectiveness of the risk management and internal control systems for the year ending December 31, 2023, covering all significant monitoring areas, and deemed them effective and appropriate[199]. - The company has established an insider information policy to ensure timely and equal public disclosure of insider information in compliance with applicable laws[200]. - The company has ensured that all relevant personnel are regularly reminded of the trading restrictions and notified of the "blackout periods"[200]. Strategic Outlook - The group anticipates that overall performance will enter a growth phase in 2024, supported by the operations of the Hongyong Group in gold mining[99]. - The group aims to explore investment opportunities to enhance its gold mining portfolio and expand market share in 2023[74]. - The group continuously monitors commodity price trends and will take necessary actions to mitigate potential risks[76]. - The group faces risks related to fluctuations in gold prices, which may impact production and operations, and will focus on efficiency and cost control to mitigate these risks[94].

Financial Performance - Government subsidies decreased from HKD 290,000 to HKD 238,000, a decline of 17.93%[1] - Bank deposit interest increased significantly from HKD 1,195,000 to HKD 1,788,000, representing a growth of 49.58%[1] - Rental income dropped from HKD 1,506,000 to HKD 821,000, a decrease of 45.54%[1] - Pre-tax profit before deductions was HKD 22,403,000, down from HKD 25,541,000, a decline of 12.56%[3] - The total comprehensive income for the year was HKD 34,823,000, compared to a loss of HKD 139,019,000 in the previous year[28] - For the year ended December 31, 2023, the total revenue was HKD 1,497,236,000, an increase of 20.3% from HKD 1,244,864,000 in 2022[30] - Gross profit for the same period was HKD 167,878,000, up 20.3% from HKD 139,495,000 in the previous year[30] - The net profit for the year was HKD 60,034,000, representing a 5.3% increase compared to HKD 57,006,000 in 2022[32] - Basic and diluted earnings per share were HKD 0.0139, down from HKD 0.0148 in the previous year[32] Assets and Liabilities - Current assets increased significantly, with inventories rising to HKD 87,749,000 from HKD 25,120,000[33] - Non-current assets, including property, plant, and equipment, rose to HKD 1,756,902,000, compared to HKD 1,391,712,000 in 2022[34] - Total liabilities increased to HKD 1,062,515,000 from HKD 874,428,000 in the previous year[36] - The company's net asset value increased to HKD 2,461,419,000, up from HKD 2,033,356,000 in 2022[36] - The group's total liabilities as of December 31, 2023, were approximately HKD 666,856,000, up from HKD 531,687,000 in 2022, indicating a rise of 25.4%[65] - The group's total borrowings increased to approximately HKD 563,710,000 as of December 31, 2023, from HKD 160,905,000 in 2022, primarily due to the acquisition of Hongyong Investment Co., Ltd.[159] - The debt-to-equity ratio as of December 31, 2023, was 24.3%, up from 8.5% in 2022[159] Revenue Sources - Major customer B contributed HKD 326,238,000 in revenue, down from HKD 792,140,000, a decrease of 58.77%[18] - The group's revenue from gold mining operations in China reached HKD 637,693,000 for the year ended December 31, 2023, compared to HKD 406,442,000 in 2022, representing a growth of 56.8%[68] - Revenue from gold recycling was HKD 859,543,000 in 2023, slightly up from HKD 838,422,000 in 2022, indicating a growth of 2.7%[68] - The gross profit from the gold mining segment was HKD 166,925,000, while the gold recycling segment contributed HKD 953,000, leading to a total gross profit of HKD 167,878,000[71] - The average selling price of refined gold increased from RMB 380 per gram in 2022 to RMB 454 per gram in 2023, contributing to a 57% increase in revenue from the gold mining business[135] Acquisitions and Investments - The acquisition of Hongyong Group was completed on July 21, 2023, with a total consideration of HKD 393,240,000 for 100% equity[105] - The acquisition contributed an additional profit of approximately HKD 10,697,000 to the company's earnings for the year[103] - The net cash inflow from the acquisition included cash and cash equivalents of HKD 94,804,000[111] - The goodwill arising from the acquisition was recorded at HKD 176,080,000, reflecting the value of assembled workforce and potential contracts[109] - The group has made strategic acquisitions, including the purchase of Hongyong Investment Limited and its subsidiaries, which have been consolidated into the gold mining business segment[55] Employee and Operational Costs - Total employee costs rose from HKD 23,873,000 to HKD 31,699,000, an increase of 32.73%[7] - The group employed approximately 420 staff in mainland China and 8 in Hong Kong as of December 31, 2023, with total employee costs amounting to approximately HKD 31,699,000, up from HKD 23,873,000 in 2022[152] - The group's administrative and other expenses increased by approximately HKD 14,742,000 to about HKD 61,599,000 for the fiscal year ending December 31, 2023[120] - The financial costs for the group increased by approximately HKD 13,050,000 to about HKD 9,353,000 for the fiscal year ending December 31, 2023[128] Compliance and Governance - The company has adopted corporate governance policies in line with established best practices, ensuring compliance with the Hong Kong Stock Exchange's rules as of December 31, 2023[170] - The company has confirmed full compliance with the standard code of conduct for securities trading by all directors for the year ending December 31, 2023[173] - The audit committee, composed of independent non-executive directors, has reviewed the group's consolidated financial performance for the year ending December 31, 2023[185] Environmental and Community Focus - The company emphasizes environmental sustainability, safety production, and community support as key priorities in its business development strategy[179] - The company will continue to monitor and review waste management and pollution reduction measures to comply with relevant regulations[179] Future Outlook - The management remains optimistic about the group's future operational performance while being vigilant about ongoing uncertainties[157] - The group expects to complete the construction of a new tailings plant in Tongguan County within approximately six months, which will mitigate the impact on operational performance during the suspension of the existing processing plant[168] - The group will continue to explore long-term value-enhancing investment opportunities for shareholders[157]

Financial Performance - The company recorded a profit attributable to owners of approximately HKD 13,930,000 for the six months ended June 30, 2023, a decrease from HKD 26,832,000 for the same period in 2022 [5]. - The overall net profit decreased by about 47% year-on-year, mainly due to a decline in the average gold ore grade mined in 2023 [50]. - Basic and diluted earnings per share for the period were HKD 0.41, compared to HKD 0.79 for the same period in 2022 [58]. - The net profit for the six months ended June 30, 2023, was HKD 16,080 thousand, compared to HKD 30,257 thousand in 2022, reflecting a decline of approximately 46.8% [78]. - For the six months ended June 30, 2023, the company's pre-tax profit was HKD 22,720,000, a decrease of 35.5% compared to HKD 35,331,000 for the same period in 2022 [153]. Revenue and Sales - Revenue for the six months ended June 30, 2023, was HKD 676,548 thousand, significantly up from HKD 179,593 thousand in the same period of 2022, marking an increase of approximately 276.5% [78]. - The group achieved a revenue growth of approximately 277% year-on-year, primarily due to the expansion into gold recycling business since the second half of 2022 [49]. - The total revenue from gold recovery operations for the six months ended June 30, 2023, was HKD 110,844,000, compared to HKD 78,456,000 for the same period in 2022, reflecting a year-on-year increase of 41.3% [148]. - The gold mining business generated revenue of approximately HKD 192,423,000, an increase of about 7.1% compared to HKD 179,593,000 in the same period last year, driven by an increase in the average selling price of gold [122]. - The gold recycling business contributed approximately HKD 484,125,000 in revenue during the interim period, with a sales cost of about HKD 483,541,000, resulting in a minimal gross profit of approximately HKD 584,000 [131]. Costs and Expenses - Sales costs increased by approximately 23.6% to HKD 143,442,000 compared to HKD 116,008,000 in the same period last year [17]. - Gross profit for the same period was HKD 49,565 thousand, down from HKD 63,585 thousand in 2022, indicating a decrease of about 22% [78]. - Administrative and other expenses were approximately HKD 22,669,000, a decrease of about 5.3% compared to HKD 23,950,000 in the same period last year, mainly due to reduced employee costs [122]. - The total comprehensive expenses for the period were HKD 50,373 thousand, down from HKD 72,129 thousand in the previous year, indicating a decrease of approximately 30.2% [78]. - The company reported a decrease in administrative and other expenses to HKD 22,669 thousand from HKD 23,950 thousand, a reduction of about 5.3% [78]. Assets and Liabilities - The total assets and net assets of the group as of June 30, 2023, were approximately HKD 3,508,096,000 and HKD 1,982,983,000, respectively [25]. - The current ratio decreased to approximately 0.17 from 0.28 as of December 31, 2022 [25]. - The total bank and other borrowings amounted to approximately HKD 154,262,000, a decrease from HKD 160,905,000 as of December 31, 2022 [26]. - The debt-to-equity ratio was approximately 8.3% as of June 30, 2023, compared to 8.5% as of December 31, 2022 [26]. - As of June 30, 2023, total assets amounted to HKD 3,402,165 thousand, a slight decrease from HKD 3,439,471 thousand as of December 31, 2022, representing a decline of approximately 1.1% [59]. Cash Flow and Financing - Cash and cash equivalents decreased to HKD 73,792 thousand from HKD 143,105 thousand, a reduction of about 48.3% [59]. - The net cash used in operating activities for the first half of 2023 was HKD (46,241,000), compared to HKD (12,431,000) in the same period of 2022, indicating a worsening cash flow situation [101]. - The company incurred a loss of HKD 4,827,000 from financing activities in the first half of 2023, contrasting with a gain of HKD 27,544,000 in the same period of the previous year [101]. - Interest expenses on unsecured bank and other borrowings decreased to HKD 7,791,000 for the six months ended June 30, 2023, down from HKD 12,007,000 in the same period of 2022, representing a reduction of 35.5% [146]. - The company's cash and cash equivalents decreased to HKD 15,184,000 as of June 30, 2023, from HKD 6,717,000 as of December 31, 2022 [175]. Strategic Initiatives - The company plans to closely monitor commodity price trends and take necessary actions to mitigate potential risks [38]. - The company remains committed to corporate social responsibility, focusing on environmental sustainability and community support [39]. - The group plans to leverage the growing demand for gold recycling to expand market share and enhance its reputation in the gold industry in mainland China [49]. - The company plans to continue seeking opportunities and exploring other investment avenues to enhance its portfolio and provide returns to shareholders in the post-pandemic era [72]. - The company has expanded its operations into gold recycling in China, which is now considered a new reportable segment [111]. Acquisitions and Investments - The group successfully acquired Hong Yong Investment Limited and its subsidiaries on July 21, 2023, which has over 16 tons of gold reserves [50]. - The company completed the acquisition of mining licenses, resulting in an addition of approximately HKD 13,779,000 to other intangible assets [183]. - There were no significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the interim period [46]. - The company has a total of HKD 1,510,989,000 in share premium and reserves as of June 30, 2023, down from HKD 1,555,210,000 at the end of 2022, reflecting a decrease of approximately 2.9% [82]. Employee and Operational Metrics - Employee costs for the interim period amounted to approximately HKD 9,171,000, down from HKD 11,343,000 for the same period in 2022 [47]. - Total employee costs for the six months ended June 30, 2023, were HKD 9,171,000, a decrease of 19.2% from HKD 11,343,000 in the same period of 2022 [178]. - The company engaged in exploration and mining activities, with a total mining output of 88.9 thousand tons and an average gold grade of 3.89 grams per ton during the interim period [127]. - The company has completed approximately 4,353 meters of pit exploration and 2,679 meters of underground drilling during the interim period [130]. - The company’s exploration and evaluation expenses for the first half of 2023 were HKD (3,199,000), a decrease from HKD (7,001,000) in the same period of 2022, indicating a reduction in exploration activities [101].

Financial Performance - The company's profit for the six months ended June 30, 2023, was HKD 16,080,000, compared to HKD 30,257,000 for the same period in 2022, representing a decrease of approximately 46.8%[22] - Revenue for the six months ended June 30, 2023, was HKD 676,548,000, significantly up from HKD 179,593,000 in the same period last year, indicating an increase of approximately 276.5%[19] - The gross profit margin for the period was HKD 49,565,000, down from HKD 63,585,000 in the previous year, reflecting a decline of about 22%[19] - The company reported a basic and diluted earnings per share of HKD 0.41, compared to HKD 0.79 in the previous year, a decrease of approximately 48.2%[6] - The total comprehensive expenses for the period amounted to HKD 50,373,000, down from HKD 72,129,000 in the same period last year, a reduction of about 30.2%[21] - The group's reported segment performance for the six months ended June 30, 2023, was HKD 49,565,000, a decrease from HKD 63,585,000 in the same period of 2022, representing a decline of approximately 22%[39] - The group's pre-tax profit for the six months ended June 30, 2023, was HKD 22,720,000, down from HKD 35,331,000 in 2022, indicating a decrease of about 36%[39] - The net profit for the period was HKD 16,080,000, compared to HKD 30,257,000 in the previous year, reflecting a decline of approximately 47%[39] - For the six months ended June 30, 2023, the company recorded a profit attributable to shareholders of approximately HKD 13,930,000, a decrease from HKD 26,832,000 for the same period in 2022[80] Revenue Sources - The company has initiated a new business segment in gold recycling in China, contributing to its revenue growth[18] - The group reported total revenue from gold recovery operations of HKD 484,125,000 for the six months ended June 30, 2023, compared to HKD 483,541,000 in the previous year, showing a slight increase[57] - Revenue from gold mining operations for the six months ended June 30, 2023, was approximately HKD 192,423,000, an increase of about 7.1% compared to HKD 179,593,000 in the same period of 2022, primarily due to an increase in the average selling price of gold[81] - The company recorded a revenue of approximately HKD 676,548,000 for the six months ended June 30, 2023, compared to HKD 179,593,000 for the same period in 2022, representing a significant increase driven by the expansion into gold recycling business, which contributed approximately HKD 484,125,000 to the revenue[107] Costs and Expenses - The cost of inventory recognized as an expense included mining costs of approximately HKD 110,844,000 for the current period, compared to HKD 78,456,000 for the same period last year, an increase of about 41%[47] - The cost of sales for the gold mining business was approximately HKD 143,442,000, an increase of about 23.6% from HKD 116,008,000 in the same period last year, leading to a gross profit of approximately HKD 48,981,000 with a gross margin of 25.5%[110] - Administrative and other expenses were approximately HKD 22,669,000, a decrease of about 5.3% compared to HKD 23,950,000 in the same period last year, primarily due to reduced employee costs[108] - The financial costs for the period were HKD 5,074,000, slightly down from HKD 5,513,000 in the previous year, indicating a decrease of about 7.9%[19] Assets and Liabilities - The net current liabilities as of June 30, 2023, were approximately HKD 520,250,000[12] - The total assets as of June 30, 2023, were HKD 2,881,915,000, compared to HKD 2,907,784,000 at the end of 2022, showing a slight decrease of about 0.9%[12] - The group’s total assets as of June 30, 2023, included other receivables of HKD 22,819,000, down from HKD 40,785,000 as of December 31, 2022, indicating a decrease of approximately 44%[53] - The company's total bank and other borrowings as of June 30, 2023, were approximately HKD 154,262,000, a decrease from HKD 160,905,000 as of December 31, 2022[84] - The company's asset-liability ratio was approximately 8.3% as of June 30, 2023, slightly down from 8.5% as of December 31, 2022[84] Corporate Governance and Compliance - The company is committed to maintaining high standards of corporate governance and compliance with relevant regulations[128] - The audit committee, composed of three independent non-executive directors, is responsible for ensuring the quality and integrity of internal controls and reviewing the group's accounting principles and practices[130] - The interim financial statements for the six months ending June 30, 2023, were reviewed by a certified public accountant in accordance with the relevant standards[132] - The company has complied with the standards set forth in the Appendix 10 of the Listing Rules regarding securities trading by directors as of June 30, 2023[129] Future Outlook - The company plans to expand its market share and enhance its reputation in the gold industry in mainland China, capitalizing on the growing demand for gold recycling[91] - The company anticipates new opportunities in the post-pandemic era to enhance its investment portfolio despite uncertainties in the economic recovery process in 2023[123] - The average gold grade is expected to gradually improve in the second half of 2023, which is anticipated to enhance overall performance[141] - The company successfully acquired Hong Yong Investment Limited and its subsidiaries on July 21, 2023, which is expected to contribute positively to performance for the remainder of the year[141] - Hong Yong Group holds over 16 tons of gold reserves based on existing mining licenses, which will enhance the company's operational capabilities[141] Dividends and Shareholder Equity - The company did not declare or recommend any dividends for the six months ended June 30, 2023, consistent with the same period in 2022[69] - The board of directors does not recommend the distribution of an interim dividend for the six months ending June 30, 2023[133] - The company has issued 3,392,272,221 ordinary shares, with total shareholder equity of approximately HKD 339,227,000 as of June 30, 2023[116] Risk Management - The company's profitability is highly dependent on local and international gold prices, which are influenced by global economic conditions and stability[122] - The company plans to closely monitor commodity price trends and take necessary actions to mitigate potential risks[122] - The company has no collateralized assets for bank and other borrowings as of June 30, 2023[117]

Environmental Sustainability - The company implemented energy-saving measures, including replacing traditional bulbs with more efficient LED lights in offices[1]. - The company plans to reduce greenhouse gas emissions from electricity procurement by 12.5% by 2025[20]. - The company encourages employees to switch to electric vehicles and carpooling to further reduce gasoline consumption[1]. - The company has established a "stop and restart" policy for operations in response to national regulations, ensuring compliance with energy-saving policies[1]. - The company aims to improve its water circulation system and adopt advanced recycled water facilities to enhance water efficiency[10]. - The company is focused on innovation and technology deployment to reduce its carbon footprint, aligning with the Paris Agreement goals[12]. - The board will hold quarterly meetings to discuss potential climate risks and mitigation measures[19]. - The group has established climate-related indicators and goals to assess and manage climate-related risks and opportunities[43]. - The group emphasizes environmental sustainability and community support as key priorities in its operations[152]. Employee Statistics and Management - The group had a total of 205 employees in the fiscal year 2021, which increased to 206 in the fiscal year 2022[47]. - The group has a total of 206 employees, with 165 male and 41 female[23]. - Employee turnover in China was 30, resulting in a turnover rate of 14.9% for the fiscal year 2022[61]. - Employee turnover in Hong Kong was 3, with a turnover rate of 60.0% for the fiscal year 2022[61]. - Total employee turnover for the group was 33, leading to an overall turnover rate of 16.0% for the fiscal year 2022[61]. - The total employee turnover rate was 16.0%, with a significant turnover rate of 63.2% for employees under 30 years old[78]. - The group strictly prohibits any form of unfair or illegal dismissal, adhering to local regulations and internal policies[74]. - The group promotes equal opportunities and anti-discrimination policies, ensuring a fair and respectful workplace[40]. - The group emphasizes transparent recruitment and promotion processes to ensure fairness and competitiveness[64]. - Employee costs for the year amounted to approximately HKD 23.87 million, a slight decrease from HKD 24.35 million in 2021[144]. Financial Performance - The group's sales cost for the year ended December 31, 2022, was approximately HKD 1,105,369,000, an increase of about 148% compared to HKD 444,857,000 in the previous year, primarily due to the new gold recovery business segment[91]. - Revenue from the gold mining business for the year was approximately HKD 406,442,000, a decrease of about 40% from HKD 681,721,000 in the previous year, attributed to strict COVID-19 control measures in China[94]. - The net profit attributable to the company's owners for the year was approximately HKD 50,340,000, a decrease of about 64% from HKD 138,677,000 in the previous year[93]. - The group incurred a net loss of approximately HKD 1,161,000 in other income for the year, compared to a net gain of HKD 6,980,000 in the previous year[85]. - The group’s administrative and other expenses increased by approximately HKD 1,567,000 to HKD 60,032,000, mainly due to one-time expenses such as ineffective exploration costs[92]. - The gross profit from operations was approximately HKD 138,385,000, with a gross margin of 34.0%, down from HKD 236,864,000 and a gross margin of 34.7% in the previous year, reflecting a decrease of about 42%[106]. - The total assets and net assets of the group as of December 31, 2022, were approximately HKD 3,650,157,000 and HKD 2,033,356,000, respectively, compared to HKD 3,897,027,000 and HKD 2,172,375,000 in the previous year[117]. - The group’s cash and bank balances as of December 31, 2022, were approximately HKD 143,105,000, down from HKD 157,700,000 in the previous year[105]. - The total exploration and mining expenses for the year were HKD 207,226,000, which included HKD 44,913,000 for exploration and development and HKD 162,313,000 for mining operations[112]. - The underground mining production for the year ended December 31, 2022, was 192.71 thousand tons, with an average gold grade of 5.15 grams per ton[110]. Corporate Governance - The board of directors is committed to regularly reviewing and monitoring corporate governance practices to ensure compliance with relevant regulations[167]. - The company has adhered to the corporate governance code principles and rules as outlined in the Hong Kong Stock Exchange listing rules for the fiscal year ending December 31, 2022[164]. - The board believes that good corporate governance is crucial for enhancing the group's effectiveness and performance, as well as safeguarding shareholder interests[164]. - The board is responsible for integrating environmental, social, and governance factors into business operations, considering their impact on the group's activities[167]. - The company has received annual independence confirmation from all independent non-executive directors, affirming their independent status[171]. - The company currently does not have a chairman or CEO since the resignations of Dr. Yu Hsien-Sheng and Mr. Wang Hui in January and June 2016, respectively[187][189]. - The board of directors consists of at least three independent non-executive directors, ensuring a balance of power and protection of shareholder interests[195]. - All directors attended 7 out of 7 board meetings during the year, indicating full engagement in governance[198]. - The company secretary reports to the executive directors since there is no chairman or CEO, ensuring proper communication within the board[191]. - Continuous professional development for all directors includes training on regulatory updates and responsibilities related to their roles[200]. Market and Economic Conditions - The company's profitability is highly dependent on local and international gold prices, which are influenced by the global economic environment and stability[173]. - Despite facing strong resistance due to rising interest rates and a strong US dollar in 2022, gold prices remained stable, indicating its role as a safe-haven asset[173]. - According to the World Gold Council, 2022 was the strongest year for gold demand in a decade, highlighting increased interest from investors and global central banks[173]. - The company anticipates that ongoing inflation relief and a weakening dollar, along with rising recession and geopolitical risks, will support gold prices in 2023[173]. - The group faces risks related to fluctuations in gold prices, which may impact production and operations, and will utilize its technological and management advantages to enhance efficiency and monitor costs closely[127]. - The group continued to pursue long-term business growth and sustainable profit growth, successfully expanding its gold-related business in mainland China in the second half of 2022[133]. - The gold recycling business, although having a lower profit margin, helped broaden revenue sources and increase market share in the mainland gold industry[133].