[Announcement Information](index=1&type=section&id=Announcement%20Information) This announcement details Asia Energy Logistics Group's unaudited interim results for the six months ended June 30, 2025 [Cover and Company Information](index=1&type=section&id=Cover%20and%20Company%20Information) This section provides essential company details and confirms the nature of the interim results announcement - Company Name: **Asia Energy Logistics Group Limited** (Stock Code: **351**)[2](index=2&type=chunk) - This announcement is for the unaudited consolidated results for the six months ended June 30, 2025[2](index=2&type=chunk) [Condensed Consolidated Financial Statements](index=2&type=section&id=Condensed%20Consolidated%20Financial%20Statements) This section presents the Group's financial performance and position for the interim period [Condensed Consolidated Statement of Comprehensive Income](index=2&type=section&id=Condensed%20Consolidated%20Statement%20of%20Comprehensive%20Income) Revenue from continuing operations grew 29.5%, while the loss for the period significantly narrowed by 59.1% to HKD 14,685 thousand Condensed Consolidated Statement of Comprehensive Income Key Data (HKD thousands) | Indicator | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | Change (%) | | :--- | :--- | :--- | :--- | | Revenue (Continuing Operations) | 29,615 | 22,869 | +29.5% | | Gross Profit (Continuing Operations) | 3,259 | 2,436 | +33.8% | | Other Income (Continuing Operations) | 1,608 | 363 | +343.0% | | Employee Costs | (5,348) | (14,530) | -63.2% | | Loss Before Tax from Continuing Operations | (14,685) | (35,898) | -59.1% | | Loss for the Period (Continuing Operations) | (14,685) | (35,898) | -59.1% | | Profit for the Period (Discontinued Operations) | – | 13,686 | -100.0% | | Total Loss for the Period | (14,685) | (22,212) | -33.9% | | Loss for the Period Attributable to Owners of the Company | (14,685) | (21,684) | -32.3% | | Basic and Diluted Loss Per Share (Continuing Operations) | (0.74) HK cents | (1.77) HK cents | -58.2% | | Basic and Diluted Earnings Per Share (Discontinued Operations) | – | 0.69 HK cents | -100.0% | | Total Basic and Diluted Loss Per Share | (0.74) HK cents | (1.08) HK cents | -31.5% | - Revenue from continuing operations primarily derived from chartering income, telecommunication services income, and e-commerce trading income[3](index=3&type=chunk) - Employee costs significantly decreased by **63.2%**, a major reason for the narrowed loss for the period[3](index=3&type=chunk) [Condensed Consolidated Statement of Financial Position](index=4&type=section&id=Condensed%20Consolidated%20Statement%20of%20Financial%20Position) Total assets and equity decreased, yet net current assets remained robust, indicating healthy liquidity and leverage ratios Condensed Consolidated Statement of Financial Position Key Data (HKD thousands) | Indicator | June 30, 2025 | December 31, 2024 | Change (%) | | :--- | :--- | :--- | :--- | | Non-current Assets | 68,573 | 73,447 | -6.7% | | Current Assets | 89,294 | 99,248 | -10.0% | | Current Liabilities | 10,097 | 8,711 | +15.9% | | Net Current Assets | 79,197 | 90,537 | -12.5% | | Total Assets Less Current Liabilities | 147,770 | 163,984 | -9.9% | | Net Assets | 147,770 | 162,229 | -8.8% | | Total Equity | 147,770 | 162,229 | -8.8% | - Trade and other receivables decreased from **HKD 15,651 thousand** to **HKD 6,317 thousand**, a **59.6%** decrease[5](index=5&type=chunk) - Bank balances and cash slightly increased from **HKD 62,772 thousand** to **HKD 67,709 thousand**[5](index=5&type=chunk) [Notes to the Condensed Consolidated Interim Financial Statements](index=5&type=section&id=Notes%20to%20the%20Condensed%20Consolidated%20Interim%20Financial%20Statements) This section provides detailed explanations and disclosures supporting the condensed consolidated interim financial statements [Basis of Preparation](index=5&type=section&id=Basis%20of%20Preparation) The interim financial statements adhere to HKAS 34 and Listing Rules, requiring careful judgment and estimates - Financial statements prepared in accordance with **HKAS 34 Interim Financial Reporting** and the **Listing Rules**[6](index=6&type=chunk) - Preparation requires judgments, estimates, and assumptions affecting policy application and reported amounts of assets, liabilities, income, and expenses[6](index=6&type=chunk) - The 2024 annual financial statements were filed with the Registrar of Companies in Hong Kong, and the auditor's report was unqualified[6](index=6&type=chunk) [Adoption of New/Revised Hong Kong Financial Reporting Standards](index=6&type=section&id=Adoption%20of%20New%2FRevised%20Hong%20Kong%20Financial%20Reporting%20Standards) New/revised HKFRS standards effective January 1, 2025, were adopted with no material impact on the interim financial statements - The Group first adopted new/revised Hong Kong Financial Reporting Standards accounting standards effective **January 1, 2025**[7](index=7&type=chunk)[8](index=8&type=chunk) - The adoption of HKAS 21 (Amendment) "Lack of Exchangeability" had no significant impact on the financial statements[9](index=9&type=chunk) [Revenue](index=6&type=section&id=Revenue) Continuing operations revenue increased 29.5%, driven by telecommunication services and new e-commerce trading, despite a decline in chartering income Revenue from Continuing Operations Breakdown (HKD thousands) | Revenue Source | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | Change (%) | | :--- | :--- | :--- | :--- | | Chartering Income | 14,786 | 20,432 | -27.6% | | Telecommunication Services Income | 8,877 | 2,437 | +264.2% | | E-commerce Trading Income | 5,952 | – | New | | **Total Revenue (Continuing Operations)** | **29,615** | **22,869** | **+29.5%** | - Telecommunication services income significantly increased by **264.2%**, and e-commerce trading business is a new revenue source for the period[10](index=10&type=chunk) [Other Income](index=7&type=section&id=Other%20Income) Other income surged 343% year-on-year, primarily due to a substantial increase in bank interest income Other Income Breakdown (HKD thousands) | Revenue Source | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | Change (%) | | :--- | :--- | :--- | :--- | | Bank Interest Income | 1,207 | 56 | +2055.4% | | Net Exchange Gain | 8 | 61 | -86.9% | | Reimbursement from Charterers | 134 | 74 | +81.1% | | Miscellaneous Income | 259 | 172 | +50.6% | | **Total Other Income** | **1,608** | **363** | **+343.0%** | - Bank interest income surged from **HKD 56 thousand** to **HKD 1,207 thousand**, the main driver of other income growth[11](index=11&type=chunk) [Segment Information](index=7&type=section&id=Segment%20Information) The Group's continuing operations span shipping, telecom, and e-commerce, with telecom and e-commerce showing significant revenue growth - The Group's reportable segments include continuing operations (shipping and logistics, telecommunication-related business, e-commerce trading) and discontinued operations[12](index=12&type=chunk)[13](index=13&type=chunk) - Segment results refer to the results from each reportable segment, excluding the allocation of corporate income and expenses[14](index=14&type=chunk) [Continuing Operations](index=8&type=section&id=Continuing%20Operations) Telecom and e-commerce revenues grew substantially, while shipping and logistics revenue decreased but improved gross profit, leading to an overall segment profit Continuing Operations Segment Revenue and Profit (Six Months Ended June 30, 2025, HKD thousands) | Segment | External Customer Segment Revenue | Segment (Loss) Profit | | :--- | :--- | :--- | | Telecommunication-Related Business | 8,877 | (1,140) | | Shipping and Logistics | 14,786 | 1,329 | | E-commerce Trading Business | 5,952 | 12 | | **Total** | **29,615** | **201** | - Shipping and logistics segment revenue decreased year-on-year, but segment profit turned from loss to profit, mainly due to cost control[15](index=15&type=chunk)[16](index=16&type=chunk) - Telecommunication-related business revenue significantly increased but still recorded a segment loss of **HKD 1,140 thousand**[15](index=15&type=chunk) [Discontinued Operations](index=9&type=section&id=Discontinued%20Operations) Discontinued operations in H1 2024 primarily reflect revenue and profit from the sale of a vessel in the shipping and logistics segment Discontinued Operations Segment Revenue and Profit (Six Months Ended June 30, 2024, HKD thousands) | Segment | External Customer Segment Revenue | Segment Profit | | :--- | :--- | :--- | | Shipping and Logistics (Discontinued) | 24,779 | 13,686 | - On May 23, 2024, the company agreed to sell a vessel (M/V Clipper Panorama), which constituted discontinued operations[13](index=13&type=chunk) [Geographical Information](index=10&type=section&id=Geographical%20Information) Non-current assets are concentrated in Hong Kong and China, with all telecom and e-commerce revenue originating from China Geographical Distribution of Non-Current Assets (HKD thousands) | Region | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Hong Kong | 4,213 | 7,207 | | China | 25 | 50 | - Revenue from telecommunication-related business and e-commerce trading business is entirely from China[19](index=19&type=chunk) - Shipping and logistics services, due to their multinational operations, do not present geographical segment revenue[18](index=18&type=chunk) [Major Customers](index=10&type=section&id=Major%20Customers) In H1 2025, three customers each contributed over 10% of group revenue across shipping, telecom, and e-commerce segments Major Customers Contributing 10% or More of Group Revenue (HKD thousands) | Customer | Segment | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | :--- | | Customer A | Shipping and Logistics | 14,786 | Not Applicable | | Customer B | Telecommunication-Related Business | 6,120 | Not Applicable | | Customer C | E-commerce Trading Business | 5,952 | Not Applicable | | Customer D | Shipping and Logistics (Continuing Operations) | Not Applicable | 20,432 | | Customer D | Shipping and Logistics (Discontinued Operations) | Not Applicable | 24,779 | - In H1 2025, Customers A, B, and C became major customers, while major customer D's revenue share in H1 2024 was below **10%** in H1 2025[20](index=20&type=chunk)[21](index=21&type=chunk) [Finance Costs](index=11&type=section&id=Finance%20Costs) Finance costs from continuing operations decreased by 54.4% year-on-year, mainly due to reduced interest on lease liabilities Finance Costs Breakdown (HKD thousands) | Cost Type | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | Change (%) | | :--- | :--- | :--- | :--- | | Interest on Other Borrowings | – | 30 | -100.0% | | Interest on Lease Liabilities | 119 | 233 | -48.9% | | **Total Finance Costs** | **119** | **263** | **-54.7%** | - Interest on lease liabilities decreased from **HKD 233 thousand** to **HKD 119 thousand**, the main reason for the decline in finance costs[22](index=22&type=chunk) [Loss Before Tax from Continuing Operations](index=12&type=section&id=Loss%20Before%20Tax%20from%20Continuing%20Operations) Loss before tax significantly narrowed, primarily due to reduced employee costs, depreciation, and asset write-offs Major Deductions for Loss Before Tax from Continuing Operations (HKD thousands) | Item | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | Change (%) | | :--- | :--- | :--- | :--- | | Depreciation of Property, Plant and Equipment | 2,892 | 2,457 | +17.7% | | Depreciation of Right-of-Use Assets | 1,488 | 2,985 | -50.1% | | Employee Costs | 5,348 | 14,530 | -63.2% | | Write-off of Other Receivables | 1,241 | – | New | | Write-off of Intangible Assets | 1,000 | – | New | - Employee costs significantly decreased by **63.2%**, a key factor in narrowing the loss[23](index=23&type=chunk) - This period saw new write-offs of other receivables of **HKD 1,241 thousand** and intangible assets of **HKD 1,000 thousand**[23](index=23&type=chunk) [Income Tax](index=13&type=section&id=Income%20Tax) No income tax provision was made due to the absence of estimated taxable profit for the Group entities during the reporting period - Hong Kong profits tax rate is **16.5%**, and China corporate income tax rate is **25%**[24](index=24&type=chunk) - No income tax provision was made as the Group entities had no estimated taxable profit or incurred tax losses during the reporting period[24](index=24&type=chunk) [(Loss) Earnings Per Share](index=13&type=section&id=(Loss)%20Earnings%20Per%20Share) Basic and diluted loss per share from continuing operations significantly narrowed by 58.2%, with no earnings from discontinued operations (Loss) Earnings Per Share (HK cents) | Indicator | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | Change (%) | | :--- | :--- | :--- | :--- | | Continuing Operations | (0.74) | (1.77) | -58.2% | | Discontinued Operations | – | 0.69 | -100.0% | | **Total** | **(0.74)** | **(1.08)** | **-31.5%** | - Basic and diluted loss per share were consistent for the six months ended June 30, 2025, and 2024, as there were no potential dilutive ordinary shares[25](index=25&type=chunk) [Dividends](index=14&type=section&id=Dividends) The company neither paid nor declared any dividends during the reporting period, and the Board does not recommend any - The company neither paid nor declared dividends for the six months ended June 30, 2025, and 2024[26](index=26&type=chunk) - The directors do not recommend the payment of any dividends for the six months ended June 30, 2025, and 2024[27](index=27&type=chunk) [Trade and Other Receivables](index=14&type=section&id=Trade%20and%20Other%20Receivables) Total trade and other receivables decreased 59.6%, mainly due to a substantial reduction in other receivables from a regulated securities broker Trade and Other Receivables Breakdown (HKD thousands) | Item | June 30, 2025 | December 31, 2024 | Change (%) | | :--- | :--- | :--- | :--- | | Receivables from Services Income | 3,090 | 407 | +659.2% | | Other Receivables | 3,470 | 4,383 | -20.8% | | Deposits for Vessel Operations | – | 354 | -100.0% | | Other Receivables from a Regulated Securities Broker | – | 9,903 | -100.0% | | Prepayments | 89 | 936 | -90.5% | | Less: Loss Allowance for Other Receivables | (1,337) | (1,337) | 0.0% | | **Total** | **6,317** | **15,651** | **-59.6%** | - Other receivables from a regulated securities broker decreased from **HKD 9,903 thousand** to zero, the main reason for the decline in total receivables[28](index=28&type=chunk) - All trade receivables have an aging within **30 to 90 days**[29](index=29&type=chunk) - Other receivables of **HKD 1,337 thousand** were overdue for more than **240 days** and bear interest at **10% per annum**[30](index=30&type=chunk) [Trade and Other Payables](index=15&type=section&id=Trade%20and%20Other%20Payables) Total trade and other payables increased by 24.1% year-on-year, primarily driven by a significant rise in trade payables Trade and Other Payables Breakdown (HKD thousands) | Item | June 30, 2025 | December 31, 2024 | Change (%) | | :--- | :--- | :--- | :--- | | Trade Payables | 3,756 | 701 | +435.8% | | Accrued Expenses and Other Payables | 2,043 | 3,770 | -45.8% | | Receipts in Advance | 838 | 878 | -4.5% | | **Total** | **6,637** | **5,349** | **+24.1%** | - Trade payables significantly increased from **HKD 701 thousand** to **HKD 3,756 thousand**[31](index=31&type=chunk) - The credit period for trade payables is generally within **90 days**, with all aging within **30 days**[32](index=32&type=chunk) [Share Capital](index=16&type=section&id=Share%20Capital) The total number of issued shares remained unchanged at 1,994,975,244 shares as of June 30, 2025 - As of June 30, 2025, the total number of issued shares was **1,994,975,244**, the same as December 31, 2024[33](index=33&type=chunk)[34](index=34&type=chunk) [Related Party Transactions and Balances](index=16&type=section&id=Related%20Party%20Transactions%20and%20Balances) Remuneration for key management personnel decreased, and consulting fees payable to a related entity were reduced to zero Key Management Personnel Remuneration (HKD thousands) | Item | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | Change (%) | | :--- | :--- | :--- | :--- | | Salaries and Other Benefits | 2,491 | 2,847 | -12.5% | | Contributions to Defined Contribution Retirement Plans | 18 | 18 | 0.0% | | **Total** | **2,509** | **2,865** | **-12.5%** | - Consulting fees payable to Ascent Financial Public Relations Limited decreased from **HKD 300 thousand** in the prior year to zero[36](index=36&type=chunk) - Disclosed related party transactions constitute connected transactions exempt from reporting, announcement, and independent shareholders' approval requirements under the Listing Rules[36](index=36&type=chunk) [Management Discussion and Analysis](index=17&type=section&id=Management%20Discussion%20and%20Analysis) This section reviews the Group's business performance, financial position, and future outlook across its operating segments [Business Review](index=17&type=section&id=Business%20Review) The Group's core businesses are shipping, telecom, and e-commerce, with significant growth in telecom and e-commerce, and a completed vessel sale - The Group's main businesses include shipping and logistics, telecommunication-related business in China, and e-commerce trading business[37](index=37&type=chunk) [Continuing Operations](index=17&type=section&id=Continuing%20Operations%20(Business%20Review)) Shipping and logistics revenue declined but gross profit improved, while telecom and e-commerce businesses saw substantial revenue growth [Shipping and Logistics](index=17&type=section&id=Shipping%20and%20Logistics) Revenue decreased by 28%, but gross profit increased by 34% due to higher vessel utilization and cost control measures - Shipping and logistics business revenue was approximately **HKD 14,786 thousand**, a year-on-year decrease of approximately **28%**[39](index=39&type=chunk) - Gross profit was approximately **HKD 3,335 thousand**, a year-on-year increase of approximately **34%**, mainly due to higher vessel utilization, reduced dry-docking losses in 2024, and decreased repair and maintenance[39](index=39&type=chunk) - The Group currently operates one dry bulk vessel with a total capacity of approximately **32,000 DWT**, fully utilized during the reporting period[38](index=38&type=chunk)[39](index=39&type=chunk) [Telecommunication-Related Business](index=17&type=section&id=Telecommunication-Related%20Business) Revenue surged by 264% from new client acquisition, though gross loss increased due to lower profit margins - Telecommunication-related business revenue was approximately **HKD 8,877 thousand**, a year-on-year increase of approximately **264%**, mainly due to new client development in H1 2025[40](index=40&type=chunk) - Gross loss was approximately **HKD 88 thousand**, a year-on-year increase of approximately **69%**, mainly due to lower profit margins for certain customers[40](index=40&type=chunk) [E-commerce Trading Business](index=18&type=section&id=E-commerce%20Trading%20Business) This new business, launched in Q4 2024, generated HKD 5,952 thousand in revenue and HKD 12 thousand in gross profit - The Group commenced e-commerce trading business in China in **Q4 2024**[41](index=41&type=chunk) - Revenue of approximately **HKD 5,952 thousand** and gross profit of approximately **HKD 12 thousand** were recorded during the reporting period[41](index=41&type=chunk) [Discontinued Operations](index=18&type=section&id=Discontinued%20Operations%20(Business%20Review)) This section details the sale of a vessel in May 2024, with related results accounted for as discontinued operations - The Group agreed to sell a vessel on May 23, 2024, for a consideration of **USD 9,500,000** (approximately **HKD 74,100,000**)[42](index=42&type=chunk) - The sale was completed in August 2024, and the related results were accounted for as discontinued operations[42](index=42&type=chunk) [Prospects](index=18&type=section&id=Prospects) The Group navigates market challenges in shipping and telecom, while aiming for competitiveness in e-commerce and seeking synergistic investments - The Group will continue to seek suitable investment opportunities that generate synergy with existing businesses and contribute positively[45](index=45&type=chunk) [Shipping and Logistics](index=18&type=section&id=Shipping%20and%20Logistics%20(Prospects)) The dry bulk market faces geopolitical and tariff challenges, prompting vessel repositioning and cost reduction efforts - The dry bulk shipping market faces challenges and opportunities from new US tariffs and geopolitical dynamics[43](index=43&type=chunk) - The Group has repositioned its vessel to the East Coast of the Atlantic and implemented measures to reduce operating costs[43](index=43&type=chunk) [Telecommunication-Related Business](index=19&type=section&id=Telecommunication-Related%20Business%20(Prospects)) Traditional SMS services face challenges from market shifts and regulatory changes, necessitating cautious expansion and new client acquisition - Traditional SMS business faces significant challenges due to changes in customer operating environment and recent regulatory changes[44](index=44&type=chunk) - The Group will cautiously promote business development and cooperation while expanding new customer segments[44](index=44&type=chunk) [E-commerce Trading Business](index=19&type=section&id=E-commerce%20Trading%20Business%20(Prospects)) Facing intense competition in China, the company plans to maintain competitiveness through innovation, product quality, and strategic investments - The Chinese e-commerce market is increasingly competitive, with evolving marketing models[45](index=45&type=chunk) - The company believes it can maintain market competitiveness through continuous innovation and maintaining product quality[45](index=45&type=chunk) [Financial Review](index=19&type=section&id=Financial%20Review) Continuing operations revenue increased 29%, and the loss significantly narrowed by 59% due to reduced costs and absence of financial asset sale losses - Revenue from continuing operations was approximately **HKD 29,615 thousand**, a year-on-year increase of approximately **29%**[46](index=46&type=chunk) - Loss from continuing operations was approximately **HKD 14,685 thousand**, a year-on-year decrease of approximately **59%**[46](index=46&type=chunk) - The reduction in loss was mainly attributable to decreased employee costs and other operating expenses, and no loss from the sale of financial assets at fair value through profit or loss this period[46](index=46&type=chunk) - Basic and diluted loss per share from continuing operations was **0.74 HK cents**, and zero for discontinued operations[47](index=47&type=chunk) [Financial Resources, Liquidity, and Gearing Ratio](index=20&type=section&id=Financial%20Resources%2C%20Liquidity%2C%20and%20Gearing%20Ratio) Cash and bank balances increased, while total equity and net current assets decreased, maintaining healthy liquidity and gearing ratios Key Financial Resources Indicators (HKD thousands) | Indicator | June 30, 2025 | December 31, 2024 | Change (%) | | :--- | :--- | :--- | :--- | | Cash and Bank Balances | 67,709 | 62,772 | +7.9% | | Total Equity Attributable to Owners of the Company | 147,770 | 162,229 | -8.9% | | Net Current Assets | 79,197 | 90,537 | -12.5% | | Current Ratio | 884% | 1,139% | -22.4% | | Gearing Ratio | 7% | 6% | +16.7% | - Total number of issued shares was **1,994,975,244**[48](index=48&type=chunk) [Significant Investments Held, Material Acquisitions and Disposals of Subsidiaries, and Future Plans for Material Investments or Capital Assets](index=20&type=section&id=Significant%20Investments%20Held%2C%20Material%20Acquisitions%20and%20Disposals%20of%20Subsidiaries%2C%20and%20Future%20Plans%20for%20Material%20Investments%20or%20Capital%20Assets) The Group holds a portfolio of listed investments, completed a vessel sale, and has no current plans for other material investments - Financial assets at fair value through profit or loss include a portfolio of listed equity and convertible bond investments with a fair value of approximately **HKD 15,268 thousand**, representing approximately **10%** of total assets[49](index=49&type=chunk) - The Group will closely monitor capital market performance and adopt the most appropriate strategy[49](index=49&type=chunk) - The vessel sale was completed in **August 2024**[51](index=51&type=chunk) - As of the date of this announcement, the Board has not approved any plans for material investments or additional capital assets[51](index=51&type=chunk) [Pledges of Assets and Contingent Liabilities](index=21&type=section&id=Pledges%20of%20Assets%20and%20Contingent%20Liabilities) As of June 30, 2025, the Group reported no pledges of assets or contingent liabilities - As of June 30, 2025, the Group had no pledges of assets[52](index=52&type=chunk) - As of June 30, 2025, the Group had no contingent liabilities[52](index=52&type=chunk) [Capital Commitments](index=21&type=section&id=Capital%20Commitments) As of June 30, 2025, the Group had no capital commitments - As of June 30, 2025, the Group had no capital commitments[53](index=53&type=chunk) [Exchange Rate Fluctuation Risk](index=21&type=section&id=Exchange%20Rate%20Fluctuation%20Risk) The Group considers its foreign exchange risk to be very low and therefore does not use hedging instruments - The Group's assets, liabilities, and transactions are primarily denominated in the functional currencies of its business operations, facing very low risk of foreign exchange rate fluctuations[54](index=54&type=chunk) - Therefore, the Group does not use hedging instruments or other hedging methods[54](index=54&type=chunk) [Employees and Remuneration Policies](index=22&type=section&id=Employees%20and%20Remuneration%20Policies) The Group had 19 full-time employees, with significantly reduced employee costs, and remuneration is based on market practice and duties - As of June 30, 2025, the Group had **19** full-time employees, the same as December 31, 2024[55](index=55&type=chunk) - Employee costs for the reporting period were approximately **HKD 5,348 thousand**, a significant year-on-year decrease of **63.2%**[55](index=55&type=chunk) - Remuneration is determined based on duties, work experience, and market practice, with share option and retirement benefit schemes in place[55](index=55&type=chunk) - As of June 30, 2025, there were no outstanding share options granted under the 2018 Share Option Scheme[55](index=55&type=chunk) [Corporate Governance](index=22&type=section&id=Corporate%20Governance) The company upholds high corporate governance standards, complying with the code despite a long-vacant CEO position [Compliance with Corporate Governance Code](index=22&type=section&id=Compliance%20with%20Corporate%20Governance%20Code) The company adheres to the Corporate Governance Code, with the CEO's duties handled by other executive directors since 2009 - The company has consistently complied with the Corporate Governance Code, except for the CEO position being vacant since **March 2009**[56](index=56&type=chunk) - The CEO's duties are performed by other executive directors, and the Board believes this has no significant impact on the Group's operations[56](index=56&type=chunk) [Compliance with the Model Code for Securities Transactions by Directors of Listed Issuers](index=23&type=section&id=Compliance%20with%20the%20Model%20Code%20for%20Securities%20Transactions%20by%20Directors%20of%20Listed%20Issuers) All directors confirmed compliance with the Model Code for Securities Transactions by Directors of Listed Issuers during the reporting period - All directors confirmed compliance with the Model Code for Securities Transactions by Directors of Listed Issuers during the review period[57](index=57&type=chunk) [Sufficient Public Float](index=23&type=section&id=Sufficient%20Public%20Float) The company maintained a sufficient public float as of June 30, 2025, and up to the announcement date - The company maintained a sufficient public float[58](index=58&type=chunk) [Review of Interim Results](index=23&type=section&id=Review%20of%20Interim%20Results) The Audit Committee reviewed the Group's unaudited consolidated interim results for H1 2025 without expressing any disagreements - The Group's unaudited consolidated interim results for the six months ended June 30, 2025, have been reviewed by the Audit Committee with no disagreements expressed[59](index=59&type=chunk) [Purchase, Sale or Redemption of the Company's Listed Securities](index=23&type=section&id=Purchase%2C%20Sale%20or%20Redemption%20of%20the%20Company%27s%20Listed%20Securities) Neither the company nor its subsidiaries engaged in purchasing, selling, or redeeming any listed securities during the review period - During the review period, neither the company nor any of its subsidiaries purchased, sold, or redeemed any of the company's listed securities[60](index=60&type=chunk) [Publication of Interim Results and Interim Report](index=23&type=section&id=Publication%20of%20Interim%20Results%20and%20Interim%20Report) This announcement is available on HKEXnews and the company website, with the interim report to follow for shareholders - This announcement has been published on the HKEXnews website (http://www.hkexnews.hk) and the company's website (https://www.aelg.com.hk)[61](index=61&type=chunk) - The interim report will be dispatched to the company's shareholders and uploaded to the aforementioned websites in due course[61](index=61&type=chunk) [Glossary](index=24&type=section&id=Glossary) This section defines key terms used throughout the report, including company specifics and regulatory references [Glossary](index=24&type=section&id=Glossary%20(sub-section)) This sub-section provides definitions for key terms, company names, and relevant financial and regulatory standards used in the report - Provides definitions for key terms used in the report, such as "2018 Share Option Scheme", "Audit Committee", "Corporate Governance Code"[62](index=62&type=chunk)[63](index=63&type=chunk) - Clarifies that "the Company" refers to Asia Energy Logistics Group Limited, and "the Group" refers to the Company and its subsidiaries[62](index=62&type=chunk) - The report date is **August 22, 2025**, and lists the Board of Directors[64](index=64&type=chunk)

Core Viewpoint - Asia Energy Logistics (00351.HK) expects a significant reduction in losses from continuing operations, projecting a loss of approximately HKD 15 million for the six months ending June 30, 2025, compared to a loss of about HKD 36 million for the same period in 2024 [1] Financial Performance - The improvement in financial performance is attributed to a decrease in employee costs and other operating expenses [1] - Unlike the same period in 2024, the company did not record any losses from the sale of financial assets measured at fair value through profit or loss for the six months ending June 30, 2025 [1]

Core Viewpoint - Asian Energy Logistics (00351.HK) expects a loss of approximately HKD 15 million from continuing operations for the six months ending June 30, 2025, an improvement compared to a loss of about HKD 36 million for the same period ending June 30, 2024 [1] Summary by Relevant Categories Financial Performance - The anticipated loss for the six months ending June 30, 2025, is projected to be HKD 15 million, which shows a significant improvement from the loss of HKD 36 million recorded for the same period in 2024 [1] - The improvement in financial performance is attributed to a reduction in employee costs and other operating expenses [1] Operational Changes - The company did not record any losses from the sale of financial assets measured at fair value through profit or loss for the six months ending June 30, 2025, in contrast to the previous year [1]

Core Viewpoint - Asia Energy Logistics (00351) expects a significant reduction in losses from continuing operations for the six months ending June 30, 2025, projecting a loss of approximately HKD 15 million compared to a loss of about HKD 36 million for the same period in 2024 [1] Financial Performance - The anticipated improvement in financial performance is primarily attributed to a decrease in employee costs and other operating expenses [1] - Additionally, the company will not record losses from the sale of financial assets measured at fair value through profit or loss for the six months ending June 30, 2025, unlike the losses recorded in the same period of 2024 [1]

Core Viewpoint - Asian Energy Logistics (00351) expects a significant reduction in losses from continuing operations, projecting a loss of approximately HKD 15 million for the six months ending June 30, 2025, compared to a loss of about HKD 36 million for the same period ending June 30, 2024 [1] Summary by Relevant Categories Financial Performance - The company anticipates a loss reduction due to decreased employee costs and other operating expenses [1] - There will be no recorded losses from the sale of financial assets measured at fair value through profit or loss for the six months ending June 30, 2025, in comparison to the same period in 2024 [1]

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，概不會就因本公告全部或任何部分內 容而產生或因依賴該等內容而引致之任何損失承擔任何責任。 - 1 - 股東及本公司潛在投資者於買賣本公司股份或其他證券時務請審慎行事。 承董事會命 ASIA ENERGY LOGISTICS GROUP LIMITED 351 虧損情況改善 本公告乃由亞洲能源物流集團有限公司（「本公司」，連同其附屬公司統稱「本集團」）根據 香港聯合交易所有限公司證券上市規則（「上市規則」）第13.09(2)條及香港法例第571章證 券及期貨條例第XIVA部項下之內幕消息條文（定義見上市規則）作出。 本公司董事會（「董事會」）謹此知會本公司股東（「股東」）及潛在投資者，根據對目前董事 會可獲得之資料所作出之初步評估，預計截至二零二五年六月三十日止六個月來自持續 經營之虧損將約為15,000,000港元，而截至二零二四年六月三十日止同期持續經營之虧損 約為36,000,000港元。此改善乃主要由於(i)員工成本及其他經營開支減少及(ii)與二零二四 年同期比較，本公司於截至二零 ...

| 截至月份: | 2025年7月31日 | 狀態: 新提交 | | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | 公司名稱: | 亞洲能源物流集團有限公司 | | | 呈交日期: | 2025年8月4日 | | | I. 法定/註冊股本變動 不適用 | | | 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 FF301 第 1 頁 共 10 頁 v 1.1.1 FF301 II. 已發行股份及/或庫存股份變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00351 | 說明 | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 1,994,975,244 | | 0 | | 1,994,975,244 | | 增加 / 減少 (-) | | | 0 ...

Financial Performance - The group recorded revenue of approximately HKD 36,101,000 for the shipping and logistics business, a decrease of about 27% compared to HKD 49,646,000 in the previous year[8]. - Gross profit for the shipping and logistics segment was approximately HKD 6,545,000, down about 72% from HKD 23,691,000 in the previous year[8]. - The telecommunications segment generated revenue of approximately HKD 5,801,000, a decrease of about 87% from HKD 44,982,000 in the previous year[9]. - The group reported a loss of approximately HKD 30,713,000 for the year, compared to a profit of HKD 11,132,000 in the previous year, representing an increase in loss of about 376%[19]. - Revenue from continuing operations was approximately HKD 48,142,000, down about 49% from HKD 94,628,000 in the previous year[19]. - The total revenue for the company was approximately 79,172,000 HKD in 2024, compared to 143,654,000 HKD in 2023[189]. Assets and Liabilities - As of December 31, 2024, the company held financial assets at fair value through profit or loss amounting to HKD 35,418,000, with a collateralized margin financing of HKD 1,932,000[26]. - The company reported cash and bank balances of approximately HKD 62,772,000 as of December 31, 2024, compared to HKD 14,517,000 in 2023[28]. - The company's total equity attributable to owners was approximately HKD 162,229,000 as of December 31, 2024, down from HKD 191,879,000 in 2023[28]. - As of December 31, 2024, the group had no bank loans or other borrowings[51]. - The company had no capital commitments as of December 31, 2024, consistent with the previous year[24]. Employee and Operational Metrics - The company had a total of 19 full-time employees as of December 31, 2024, down from 40 in 2023[31]. - Employee costs for the year ended December 31, 2024, were approximately HKD 21,100,000, compared to HKD 29,800,000 in 2023[31]. - The group’s dry bulk fleet has a total capacity of approximately 32,000 deadweight tons, consistent with the previous year[6]. Corporate Governance - The board consists of three executive directors, one non-executive director, and three independent non-executive directors[92]. - The company has established systems and procedures to ensure compliance with relevant laws and regulations affecting its operations[44]. - The company has adopted measures to ensure effective execution of contractual arrangements and compliance with them[80]. - The company has established a risk management and internal control system that complies with the Corporate Governance Code[136]. - The company has engaged an external auditor, Fu Rui Ma Ze, to audit its consolidated financial statements for the fiscal year ending December 31, 2024[86]. Sustainability and Environmental Impact - The company is committed to sustainable development and has adjusted its business strategy to focus on shipping and logistics operations, covering key performance indicators from its Hong Kong office and two owned vessels[167]. - The company aims to enhance its sustainability disclosures to align more closely with international sustainability standards in the coming years[165]. - The company prioritizes reducing and controlling gas and waste emissions, implementing policies and indicators to encourage waste reduction, recycling, and sustainable development[176]. - The total greenhouse gas emissions decreased by approximately 12% compared to the previous year, with total emissions amounting to 17,310.76 tons in 2024, down from 19,755.67 tons in 2023[187]. - The company has not violated any environmental protection laws, rules, or regulations during the reporting period[178]. Shareholder Relations - There were no interim dividends paid to shareholders for the year ending December 31, 2024, and the board does not recommend a final dividend for the same period[45]. - The company has maintained a public shareholding percentage exceeding 25% throughout the fiscal year[82]. - The board plans to recommend a dividend distribution of no less than 15% of the annual profit attributable to shareholders in the foreseeable future[160]. Risk Management - The company faces several risks related to the contractual arrangements, including potential non-compliance with Chinese laws and the possibility of losing rights to assets held by related parties[79]. - The company has not insured against the risks associated with the contractual arrangements and their proposed transactions[79]. - The interpretation and implementation of the newly enacted Foreign Investment Law may create uncertainties affecting the company's corporate structure and business operations[79].

Financial Performance - Revenue for the year ended December 31, 2024, was HKD 48,142,000, a decrease of 49.1% compared to HKD 94,628,000 in 2023[2] - Gross profit for the year was HKD 6,930,000, down 76.0% from HKD 28,863,000 in the previous year[2] - Loss from continuing operations before tax was HKD 52,423,000, compared to a loss of HKD 13,150,000 in 2023[3] - Total comprehensive loss for the year amounted to HKD 30,846,000, a significant decline from a comprehensive income of HKD 10,967,000 in the prior year[3] - Basic and diluted loss per share from continuing operations was HKD 2.60, compared to HKD 0.60 in the previous year[3] - The company reported a pre-tax loss from continuing operations of HKD 51,895,000 in 2024, compared to a loss of HKD 11,606,000 in 2023[40] - The basic and diluted loss per share for continuing operations was HKD (2.60) in 2024, compared to HKD (0.60) in 2023[40] - The group recorded a loss of approximately HKD 30,713,000, a decline of about 376% from a profit of HKD 11,132,000 in 2023[65] Assets and Liabilities - Non-current assets decreased to HKD 73,447,000 from HKD 147,712,000 in 2023, reflecting a reduction of 50.2%[4] - Current assets increased to HKD 99,248,000, up 37.4% from HKD 72,237,000 in the previous year[4] - Net current assets improved to HKD 90,537,000, compared to HKD 50,480,000 in 2023, indicating a 79.4% increase[4] - The company’s total liabilities decreased from HKD 26.874 million in 2023 to HKD 10.466 million in 2024, reflecting a significant reduction in financial obligations[26] - The total trade receivables decreased from HKD 22,383,000 in 2023 to HKD 15,651,000 in 2024[12] - The total trade payables decreased from HKD 9,739,000 in 2023 to HKD 5,349,000 in 2024[49] Cash Flow and Investments - The company reported a cash balance of HKD 62,772,000, significantly higher than HKD 14,517,000 in the previous year[4] - Cash inflow from operating activities was HKD 11,327,000 in 2024, down from HKD 23,031,000 in 2023[39] - The company completed the sale of a vessel for USD 9,500,000 (approximately HKD 74,100,000) on August 20, 2024, which is classified as discontinued operations[38] - Total revenue from discontinued operations was HKD 31,030,000 in 2024, down from HKD 49,026,000 in 2023[38] - The company reported total other income of HKD 1,772,000 in 2024, slightly down from HKD 1,775,000 in 2023[33] Segment Performance - The company reported segment revenue from external customers for the year ended December 31, 2023, totaling HKD 143.654 million, with the shipping and logistics segment contributing HKD 44.982 million and the telecommunications segment contributing HKD 49.646 million[24] - The company incurred a total loss of HKD 30.713 million for the year, with the shipping and logistics segment reporting a loss of HKD 3.158 million and the telecommunications segment reporting a loss of HKD 4.718 million[23] - Revenue from the shipping and logistics segment decreased from HKD 49,646,000 in 2023 to HKD 36,101,000 in 2024, a decline of approximately 27.5%[32] - Telecommunications service revenue dropped significantly from HKD 44,982,000 in 2023 to HKD 5,801,000 in 2024, representing a decrease of about 87.1%[32] - Gross profit in the shipping and logistics segment was approximately HKD 6,545,000, down about 72% from HKD 23,691,000 in the previous year[57] - Gross profit in the telecommunications segment was approximately HKD 371,000, down about 93% from HKD 5,172,000 in the previous year[58] - The e-commerce trade business recorded revenue of approximately HKD 6,240,000 and a gross profit of approximately HKD 13,000 during the year[59] Strategic Focus and Challenges - The company has incurred research and development costs of HKD 749,000, an increase from HKD 259,000 in 2023, indicating a focus on innovation[2] - The group has taken measures to reduce operating costs and maintain profitability in response to challenges in the shipping and logistics market due to new tariffs and geopolitical dynamics[61] - The telecommunications business faces significant challenges due to customer shifts towards other mobile applications for communication, impacting traditional SMS services[62] - The company’s segment performance indicates a need for strategic adjustments, particularly in the telecommunications and shipping segments, to improve profitability moving forward[22] - The group will continue to seek suitable investment opportunities that can create synergies with existing businesses and contribute positively[64] Compliance and Governance - The company adopted several new or revised Hong Kong Financial Reporting Standards, which did not have a significant impact on the consolidated financial statements[11][14][16][18][20] - The group has maintained compliance with applicable corporate governance codes and principles throughout the year[71] - There were no purchases, sales, or redemptions of the company's listed securities during the year[69] - The company did not recommend any dividends for the years ended December 31, 2024, and 2023[37] - The group had no capital commitments as of December 31, 2024[67]

Revenue and Profit Performance - Revenue from shipping and logistics business decreased by 17% to approximately HKD 20,432,000 compared to HKD 24,594,000 in the same period last year[5] - Gross profit from shipping and logistics business decreased by 76% to approximately HKD 2,488,000 compared to HKD 10,350,000 in the same period last year[5] - Revenue from telecommunications-related business decreased by 92% to approximately HKD 2,437,000 compared to HKD 29,129,000 in the same period last year[9] - Gross loss from telecommunications-related business was approximately HKD 52,000, compared to a gross profit of HKD 6,054,000 in the same period last year[9] - Total revenue from continuing operations decreased by 57% to approximately HKD 22,869,000 compared to HKD 53,723,000 in the same period last year[13] - Loss from continuing operations increased by 198% to approximately HKD 35,898,000 compared to HKD 12,059,000 in the same period last year[13] - Revenue for the six months ended June 30, 2024, was HK$22.869 million, a significant decrease from HK$53.723 million in the same period in 2023[39] - Gross profit for the period was HK$2.436 million, down from HK$16.404 million in 2023[39] - Loss from continuing operations before tax was HK$35.898 million, compared to a loss of HK$12.059 million in 2023[39] - Profit from discontinued operations was HK$13.686 million, slightly higher than HK$12.124 million in 2023[40] - Total comprehensive loss for the period was HK$22.272 million, compared to a loss of HK$408,000 in 2023[40] - Revenue from chartering decreased to HKD 20.432 million in 2024 from HKD 24.594 million in 2023, a decline of approximately 16.9%[51] - Telecommunications service revenue dropped significantly to HKD 2.437 million in 2024 from HKD 29.129 million in 2023, a decrease of approximately 91.6%[51] - Total revenue from continuing operations fell to HKD 22.869 million in 2024 from HKD 53.723 million in 2023, a decline of approximately 57.4%[51] - Other income decreased to HKD 363,000 in 2024 from HKD 1.135 million in 2023, a decline of approximately 68%[52] - The shipping and logistics segment (continuing operations) reported a loss of HKD 5.538 million in 2023[56] - The telecommunications-related business segment reported a profit of HKD 1.661 million in 2023[56] - Revenue from discontinued operations (shipping and logistics) was 24,779 thousand HKD in the first half of 2024, slightly higher than the 24,375 thousand HKD recorded in the same period of 2023[66] - The company reported a net loss attributable to owners of 35,370 thousand HKD from continuing operations in the first half of 2024, compared to a loss of 11,973 thousand HKD in the same period of 2023[67] Asset and Liability Changes - Cash and bank balances increased to HKD 15,182,000 as of June 30, 2024, compared to HKD 14,517,000 on December 31, 2023[14] - Net current assets rose to HKD 95,628,000 as of June 30, 2024, up from HKD 50,480,000 on December 31, 2023[14] - Current ratio improved to 419% as of June 30, 2024, compared to 332% on December 31, 2023[14] - Debt-to-equity ratio increased to 20% as of June 30, 2024, up from 14% on December 31, 2023[14] - The company holds listed equity investments with a fair value of HKD 24,504,000, representing approximately 12% of total assets as of June 30, 2024[16] - Total assets for continuing operations in shipping and logistics increased to HKD 81.232 million in 2024 from HKD 78.644 million in 2023[57] - Total assets for the telecommunications-related business increased to HKD 15.066 million in 2024 from HKD 13.236 million in 2023[57] - Total consolidated assets decreased to HKD 204.248 million in 2024 from HKD 219.949 million in 2023[57] - Total liabilities increased to 33,445 thousand HKD as of June 30, 2024, up from 26,874 thousand HKD at the end of 2023, primarily driven by higher liabilities in the shipping and logistics segment (6,100 thousand HKD) and telecom-related business (6,508 thousand HKD)[59] - Non-current assets in Hong Kong decreased to 9,481 thousand HKD as of June 30, 2024, compared to 12,555 thousand HKD at the end of 2023, while non-current assets in China dropped significantly to 80 thousand HKD from 569 thousand HKD[60] - Non-current assets decreased to HK$78.635 million from HK$147.712 million at the end of 2023[42] - Cash and cash equivalents at the end of the period were HK$15.182 million, down from HK$19.190 million in 2023[45] - Trade and other receivables decreased to HK$19,046,000 as of June 30, 2024, from HK$22,383,000 as of December 31, 2023[72] - The company held HK$24,504,000 in listed securities as of June 30, 2024, compared to HK$35,418,000 as of December 31, 2023[76] - Trade payables increased to HK$5,884,000 as of June 30, 2024, from HK$2,409,000 as of December 31, 2023[77] - The company's vessel-related deposits decreased to HK$4,111,000 as of June 30, 2024, from HK$12,529,000 as of December 31, 2023[72] - The fair value of financial assets measured at fair value through profit or loss (Level 1) was HKD 24,504 thousand as of June 30, 2024, down from HKD 35,418 thousand as of December 31, 2023[87] Cash Flow and Financing Activities - Net cash generated from operating activities was HK$5.987 million, compared to a net cash outflow of HK$3.228 million in 2023[45] - Net cash used in investing activities was HK$3.802 million, compared to a net cash inflow of HK$3.711 million in 2023[45] - Net cash used in financing activities was HK$1.520 million, compared to a net cash inflow of HK$620,000 in 2023[45] - Net cash inflow from operating activities of discontinued operations increased to 846 thousand HKD in the first half of 2024, up from 678 thousand HKD in the same period of 2023[67] - The company had no outstanding margin financing as of June 30, 2024, compared to HK$1,932,000 as of December 31, 2023[75] - The imputed interest expense related to the 2020 convertible bonds was zero for the six months ended June 30, 2024, compared to HKD 1,908,000 for the same period in 2023[84] - Amounts payable to Dongyang, the ultimate holding company, increased to HKD 10,800,000 as of June 30, 2024, from HKD 7,000,000 as of December 31, 2023[85] Employee and Management Costs - Total number of full-time employees decreased to 17 as of June 30, 2024, compared to 40 on December 31, 2023[24] - Employee costs (including directors' remuneration) amounted to HKD 14,530,000 for the period ending June 30, 2024, compared to HKD 14,950,000 for the same period in 2023[24] - Employee costs, including director remuneration, increased to 14,530 thousand HKD in the first half of 2024, up from 14,950 thousand HKD in the same period of 2023[64] - The total remuneration for key management personnel (directors only) was HKD 2,865 thousand for the six months ended June 30, 2024, compared to HKD 2,508 thousand for the same period in 2023[83] - Consulting fees payable to Chuang Sheng Financial Public Relations Limited, beneficially owned by Mr. Ng Kin Sin, a director of several subsidiaries, amounted to HKD 300,000 for the six months ended June 30, 2024, down from HKD 360,000 in the same period in 2023[83] Shareholder and Equity Information - The company's total issued shares stood at 1,994,975,244 as of June 30, 2024[15] - Mr. Peng Yue holds 1,400,000,000 shares, representing approximately 70.18% of the issued shares through his controlled company, Dongyang Group Limited[30] - Dongyang Group Limited, as the beneficial owner, holds 1,400,000,000 shares, representing approximately 70.18% of the issued shares[32] - No share options were granted, exercised, canceled, or lapsed under the 2018 Share Option Scheme during the review period[34] - The company maintained sufficient public float during the six months ended June 30, 2024[37] - No listed securities of the company were purchased, sold, or redeemed by the company or any of its subsidiaries during the review period[38] - The company's issued and fully paid share capital remained at 1,994,975,244 shares as of June 30, 2024[81] Operational and Strategic Changes - The company agreed to sell a vessel for USD 9,500,000 (equivalent to HKD 74,100,000), with the transaction expected to be completed in August 2024[9][10] - The company will operate one dry bulk carrier after the sale of the vessel and has taken measures to reduce operating costs[11] - The company agreed to sell a vessel for USD 9,500,000 (equivalent to HKD 74,100,000) on May 23, 2024[18] - The company agreed to sell a vessel (M/V Clipper Panorama) for USD 9.5 million (approximately 74,100 thousand HKD), with delivery expected in August 2024[66] Other Financial and Operational Notes - The company has no contingent liabilities or capital commitments as of June 30, 2024[21][22] - Basic and diluted loss per share from continuing operations was 1.77 HK cents, compared to 0.64 HK cents in the same period last year[13] - Basic and diluted earnings per share from discontinued operations was 0.69 HK cents, compared to 0.65 HK cents in the same period last year[13] - Diluted loss per share for the six months ended June 30, 2024, was (1.77) HK cents, compared to (0.64) HK cents for the same period in 2023[70] - The company did not declare or pay any dividends for the six months ended June 30, 2024, and 2023[71] - Goodwill remained unchanged at HK$1,026,000 as of June 30, 2024, with no impairment losses recorded during the period[72] - The company's other receivables included HK$1,299,000 bearing interest at 10% per annum, due for repayment in October 2024[74] - Financial costs for continuing operations decreased to 263 thousand HKD in the first half of 2024, compared to 2,442 thousand HKD in the same period of 2023, mainly due to lower interest expenses on other borrowings and convertible bonds[62] - Depreciation of property, plant, and equipment for continuing operations totaled 2,457 thousand HKD in the first half of 2024, slightly higher than the 2,209 thousand HKD recorded in the same period of 2023[64] - Revenue from China in the telecom-related business declined sharply to 2,437 thousand HKD in the first half of 2024, down from 29,129 thousand HKD in the same period of 2023[61]