Core Insights - On June 3, 40 Hong Kong-listed companies conducted share buybacks, totaling 27.7357 million shares and an aggregate amount of HKD 1.079 billion [1][2] - Tencent Holdings led the buybacks with 994,000 shares repurchased for HKD 500 million, bringing its total buyback amount for the year to HKD 27.031 billion [1][2] - AIA Group followed with a buyback of 6 million shares for HKD 403 million, and Kuaishou-W repurchased 2 million shares for HKD 102 million [1][2] Buyback Details - Tencent Holdings: - Shares repurchased: 994,000 - Buyback amount: HKD 500 million - Highest price: HKD 505.000 - Lowest price: HKD 501.000 - Year-to-date total buyback: HKD 27.031 billion [2] - AIA Group: - Shares repurchased: 6 million - Buyback amount: HKD 403 million - Highest price: HKD 67.650 - Lowest price: HKD 66.550 - Year-to-date total buyback: HKD 11.412 billion [2] - Kuaishou-W: - Shares repurchased: 2 million - Buyback amount: HKD 102 million - Highest price: HKD 51.350 - Lowest price: HKD 50.950 - Year-to-date total buyback: HKD 1.911 billion [2] Other Notable Buybacks - Other companies with significant buybacks include: - Hengan International: 600,000 shares for HKD 13.13 million - China Eastern Airlines: 200,000 shares for HKD 592,760 [2] - The total buyback activity reflects a trend among companies to return capital to shareholders amid market conditions [1][2]

Summary of Key Points Core Viewpoint - On May 19, 38 Hong Kong-listed companies conducted share buybacks, totaling 38.39 million shares and an aggregate amount of HKD 831 million [1][2]. Group 1: Buyback Details - Tencent Holdings repurchased 979,000 shares for HKD 500 million, with a highest price of HKD 516.50 and a lowest price of HKD 503.00, bringing its total buyback amount for the year to HKD 21.53 billion [1][2]. - AIA Group repurchased 2.34 million shares for HKD 154 million, with a highest price of HKD 66.40 and a lowest price of HKD 64.75, totaling HKD 8.93 billion in buybacks for the year [1][2]. - China COSCO Shipping repurchased 5.56 million shares for HKD 79.36 million, with a highest price of HKD 14.40 and a lowest price of HKD 14.12, accumulating HKD 3.83 billion in buybacks for the year [1][2]. Group 2: Buyback Rankings - The highest buyback amount on May 19 was from Tencent Holdings at HKD 500 million, followed by AIA Group at HKD 154 million [1][2]. - In terms of share quantity, the largest buyback was conducted by Jieli Trading at 9.18 million shares, followed by China COSCO Shipping at 5.56 million shares and NetEase Technology at 4.67 million shares [1][2]. Group 3: Additional Buyback Information - Country Garden Services conducted its first buyback of the year, while Tencent Holdings has made multiple buybacks totaling HKD 21.53 billion [2][3]. - A detailed table of buybacks on May 19 includes various companies, their respective buyback shares, amounts, highest and lowest prices, and cumulative buyback amounts for the year [2][3].

近段时间，金融板块整体表现亮眼，成为市场关注的焦点。 Wind 资讯数据显示，截至 5 月 15 日收盘，Wind 银行行业指数报 7072.61 点，创历史新高。 而前一日，银行、保险、券商等板块齐发力，带动上证指数站上 3400 点，提振了市场情绪。在此背景 下，金融板块后续配置价值如何，成为投资者的关注点。 在业内人士看来，中国人民银行降准降息、公募基金改革方案发布、险资权益投资力度持续加大等积极 因素叠加，有望为包括银行板块在内的金融板块带来增配机遇，推动更多资金流入。 华泰证券认为公募改革落地有望驱动银行板块估值。 智通财经APP获悉，证监会最近发布《推动公募基金高质量发展行动方案》，显著强化业绩比较基准约 束力，预计未来基金配置或向业绩基准靠拢。2025 年一季度主动权益深度欠配银行，较沪深 300 偏离 度近 10pct，改革驱动下或有较大增配空间。近期一揽子政策落地，驱动经济修复。华泰证券最新研报 认为，被动基金持续扩容，险资加速入市，增量资金持续流入可期，有望进一步支撑板块行情。个股关 注：1）2025 年一季度公募低配的股份行；2）稳健大行仍有配置价值；3）质优个股。 内银相关港股企业： ...

Group 1 - The article reports on share buybacks conducted by various companies on May 12, 2025, with AIA Group (01299) having the largest buyback amount of 1.25 billion, purchasing 2 million shares [1][2] - Other notable buybacks include China COSCO Shipping Holdings (01919) with 4.21 million shares bought back for 53.77 million, and Times Electric (03898) with 1.43 million shares for 47.22 million [2][3] - The total number of shares repurchased by AIA Group in the year reached 5.93 billion, accounting for 5.276% of its total share capital [2] Group 2 - China Hongqiao Group (01378) repurchased 1.13 million shares for 15.96 million, representing only 0.380% of its total share capital [2] - Swire Properties (00019) bought back 181,000 shares for 12.67 million, with a total annual repurchase of 5.56 million shares, which is 6.652% of its total [2] - The buyback activity reflects a trend among companies to utilize excess cash for share repurchases, potentially signaling confidence in their financial health [1][2]

Group 1 - The article reports on share buybacks conducted by various companies on April 30, 2025, highlighting the total amounts and quantities repurchased [1][2][3] - AIA Group (01299) had the largest buyback amount, repurchasing 3.7736 million shares for a total of 217 million [1][2] - China Merchants Industry Holdings (01919) and China Hongqiao Group (01378) also had significant buybacks, with 12.9715 million shares for 151 million and 4.6665 million shares for approximately 64.83 million respectively [2][3] Group 2 - The cumulative buyback amounts for the year show that AIA Group has repurchased a total of 584 million shares, representing 5.198% of its total share capital [2] - China Merchants Industry Holdings has repurchased 241 million shares, accounting for 7.530% of its total share capital [2] - Other notable companies include Times Electric (03898) with 8.016% of its total shares repurchased and Swire Properties (01972) with 1.530% [2][3] Group 3 - The buyback activities reflect a trend among companies to return capital to shareholders, with varying percentages of total share capital being repurchased across different firms [1][2] - Companies like FOSUN Pharma (02196) and Jitu Express (01519) have lower buyback percentages, at 1.800% and 0.645% respectively, indicating a more conservative approach [2][3] - The data suggests a strategic move by companies to enhance shareholder value amidst market conditions [1][2]

Business Strategy and Market Position - The company aims to become a leading financial investor in the region, with a focus on providing high-quality financial products to achieve stable profits[3]. - The company is committed to becoming a top supplier for garment operators in the export business, enhancing its market position[3]. - The retail business aims to lead the clothing retail market in its region, focusing on customer satisfaction and shareholder returns[3]. - The company is focused on sustainable growth and aims to achieve social benefits alongside its partners[3]. - The company plans to expand its market presence in Australia and New Zealand, contributing HKD 8.3 million to the overall revenue in 2024[86]. - The company is focusing on new product development and technology innovation to enhance its competitive edge in the market[87]. - Future guidance indicates a continued growth trajectory with expectations of revenue growth of approximately 15% year-over-year for 2024[87]. - The company is exploring potential mergers and acquisitions to strengthen its market position and diversify its business portfolio[87]. Financial Performance - The company's total revenue for the year reached HKD 910,170,000, representing a growth of 10.83% compared to the previous year[34]. - Profit attributable to equity holders increased by 40.75% to HKD 61,380,000[34]. - Basic earnings per share rose by 41.96% to HKD 4.06[35]. - The company reported a significant increase in financial investment revenue, up 291.00% to HKD 194,385,000[35]. - The proposed final dividend is HKD 0.058 per share, an increase of 20.83% from HKD 0.048 per share last year[36]. - The company continues to focus on high-quality development and effectivity, concentrating resources on the most beneficial and promising businesses[33]. - The company has consistently opted for voluntary dissolution as a method to exit non-performing business segments[24][25][27]. - The operating profit margin improved to 11.18% in 2024 from 6.31% in 2023, indicating enhanced operational efficiency[76]. Corporate Governance - The company has adopted the corporate governance code principles as per the Hong Kong Stock Exchange Listing Rules for the fiscal year ending December 31, 2024[97]. - The board consists of nine members, with five executive directors and four independent non-executive directors, ensuring compliance with the requirement of at least three independent non-executive directors[105]. - The company has maintained a gender diversity policy within the board, with two female executive directors among the nine members[105]. - The board has established mechanisms to ensure independent viewpoints are communicated effectively, which were reviewed and deemed effective during the fiscal year[106]. - The company has confirmed that all independent non-executive directors meet the independence criteria as per the Listing Rules[104]. - The board is committed to appointing at least three independent non-executive directors, with at least one-third of the board being independent[107]. - The company has a clear separation of roles between the chairman and the CEO, enhancing governance and operational oversight[101]. - The company has implemented a code of conduct for securities trading by directors, ensuring compliance with the established standards[126]. Shareholder Information - The company plans to hold its annual general meeting on May 19, 2025, to discuss financial statements and declare dividends for the year ending December 31, 2024[9][10]. - The company will seek approval for the appointment of new executive directors and independent non-executive directors during the annual general meeting[10]. - The company intends to authorize the board to determine the remuneration of directors and auditors, ensuring proper governance[10]. - The company will suspend share registration from May 14, 2025, to May 19, 2025, to determine eligibility for the upcoming annual general meeting[19]. - The company will also suspend share registration from May 23, 2025, to May 27, 2025, for the distribution of the proposed final dividend[19]. - The proposed final dividend for the year ending December 31, 2024, is HKD 5.80 per share, an increase from HKD 4.80 in 2023, with a total dividend amounting to approximately HKD 147,555,000, representing 240.40% of the profit attributable to equity holders[54]. Risk Management and Internal Controls - The company has adopted a risk management and internal control system that is reviewed at least annually, covering financial, operational, and compliance areas[132]. - The board confirmed that there were no significant deficiencies found in the risk management and internal control system during the review period[139]. - The internal audit department plays a crucial role in reviewing and assessing the effectiveness of the risk management and internal control system, following the COSO control framework[138]. - The company has established a whistleblowing policy to allow employees and third parties to report concerns confidentially and anonymously[140]. - The company has adopted an anti-corruption policy outlining guidelines and personal responsibilities regarding anti-corruption and bribery prevention[141]. Share Repurchase and Capital Management - The company authorized the purchase of shares in China Construction Bank and Industrial and Commercial Bank of China, with a total amount not exceeding HKD 400 million each, excluding stamp duty and related costs[6]. - The company repurchased a total of 13,332,000 shares during the year, with a total cost of approximately HKD 12,958,000[8]. - The highest repurchase price per share was HKD 1.24, while the lowest was HKD 0.82[9]. - The company has maintained at least 25% of its issued shares held by the public as of the report date[7]. Audit and Compliance - The auditor for the financial statements for the year ending December 31, 2024, is Ernst & Young, with no change in auditors over the past three years[11]. - The consolidated financial statements reflect the group's financial position as of December 31, 2024, and its performance for the year ended on that date[198]. - The audit was conducted in accordance with the Hong Kong Financial Reporting Standards, ensuring a true and fair view of the financial statements[198]. - Key audit matters were identified based on professional judgment, highlighting the most significant issues during the audit process[200].

Financial Performance - For the year ending December 31, 2024, the total revenue was HKD 910,170,000, an increase of 10.8% compared to HKD 821,237,000 in 2023[4] - The gross profit for the year was HKD 322,461,000, representing a significant increase of 100.9% from HKD 160,359,000 in the previous year[4] - The net profit attributable to equity holders of the company was HKD 61,380,000, up 40.7% from HKD 43,610,000 in 2023[4] - The basic and diluted earnings per share increased to HKD 4.06, compared to HKD 2.86 in the previous year, reflecting a growth of 41.9%[4] - The total comprehensive income for the year was HKD 531,711,000, a substantial rise from HKD 47,818,000 in 2023[5] - The group reported a pre-tax profit of HKD 101,776,000 for 2024, compared to HKD 51,850,000 in 2023, reflecting an increase of approximately 96.3%[13] - Profit attributable to equity holders increased by 40.75% to HKD 61,380,000 from HKD 43,610,000 in the previous year[27] - Basic earnings per share rose by 41.96% to HKD 4.06 from HKD 2.86 in 2023[27] Asset and Equity Changes - Non-current assets increased to HKD 1,746,044,000 from HKD 822,380,000, indicating a growth of 112.3%[6] - Current assets decreased to HKD 1,817,394,000 from HKD 2,230,215,000, a decline of 18.5%[6] - The total equity attributable to equity holders of the company increased to HKD 2,750,789,000 from HKD 2,376,529,000, reflecting a growth of 15.6%[6] - The total issued share capital decreased to HKD 151,024,000 in 2024 from HKD 152,264,000 in 2023 due to share buybacks[21] Cash and Cash Equivalents - The company's cash and cash equivalents decreased to HKD 1,201,518,000 from HKD 1,703,918,000, a reduction of 29.5%[6] - The company’s net cash and cash equivalents rose by 19.27% to HKD 2,968,709,000 from HKD 2,488,966,000 in 2023[27] - As of December 31, 2024, the company held net cash and cash equivalents of HKD 2,968,709,000, an increase from HKD 2,488,966,000 as of December 31, 2023[32] - The cash and cash equivalents as of December 31, 2024, included 75.04% in USD, 9.32% in HKD, and 15.63% in RMB, compared to 89.37%, 5.41%, and 5.21% respectively a year earlier[32] Dividend Information - The company proposed a final dividend of HKD 5.80 per share for 2024, up from HKD 4.80 per share in 2023, representing a 20.8% increase[16] - The company proposed a final dividend of HKD 5.80 per share for the year ending December 31, 2024, an increase of 20.83% from HKD 4.80 in 2023, with a total payout of approximately HKD 87,158,000[23] Investment and Financing - The company reported a significant increase in dividend income to HKD 163,795,000 from HKD 16,497,000, marking a growth of 892.5%[4] - Financial investment revenue surged by 291.00% to HKD 194,385,000, up from HKD 49,715,000 in 2023[28] - The total value of significant investments in listed corporate bonds and stocks reached HKD 1,715,955,000 as of December 31, 2024, up from HKD 766,375,000 a year earlier, representing an increase of HKD 949,580,000[34] - The company had no bank borrowings as of December 31, 2024, compared to HKD 14,175,000 in borrowings as of December 31, 2023[32] - The company’s total financing costs decreased to HKD 2,309,000 in 2024 from HKD 2,510,000 in 2023, a reduction of approximately 8%[12] Employee and Corporate Strategy - The total number of employees decreased to 413 as of December 31, 2024, down from 464 in the previous year[35] - The company plans to implement a strategy of "comprehensive high-quality development" in 2025, focusing resources on the most promising and effective businesses[38] - The company continues to focus on high-quality development and effective resource allocation to enhance shareholder returns[26] Share Buyback Activity - During the year, the company repurchased a total of 13,332,000 shares on the stock exchange[45] - A total of 13,332,000 shares were repurchased during the year, with a total expenditure of approximately 12,958,000 HKD[46] - The highest repurchase price reached 1.24 HKD per share in December, while the lowest was 0.82 HKD in January[46] - In January and February 2025, an additional 1,608,000 shares were repurchased at a total cost of approximately 1,946,000 HKD[46] - All repurchased shares have been cancelled, aiming to enhance the company's net asset value per share and earnings per share[47] - The share buyback was authorized by shareholders at the annual general meetings in 2023 and 2024[47] Corporate Social Responsibility - The company emphasizes its commitment to corporate social responsibility while seeking maximum investment returns for shareholders[36] - The company expresses gratitude to shareholders for their support and to management and staff for their dedicated service[48]

Financial Performance - For the six months ended June 30, 2024, the company reported total revenue of HKD 403,797,000, a decrease of 4.0% compared to HKD 421,535,000 in the same period last year[3]. - Gross profit for the same period was HKD 192,378,000, representing a significant increase of 97.9% from HKD 97,221,000 year-on-year[3]. - The net profit for the period was HKD 25,950,000, up 48.5% from HKD 17,457,000 in the previous year[5]. - Basic and diluted earnings per share increased to HKD 1.62, compared to HKD 1.15 for the same period last year, reflecting a growth of 41.0%[5]. - For the six months ended June 30, 2024, total revenue reached HKD 539,809,000, an increase from HKD 460,075,000 in the same period of 2023, representing a growth of approximately 17.2%[19]. - Profit attributable to equity holders increased by 39.00% to HKD 24,489,000, compared to HKD 17,618,000 in the previous year[52]. - The group reported a pre-tax profit of HKD 42,588,000 for the six months ended June 30, 2024, compared to a pre-tax profit of HKD 20,907,000 in the same period of 2023, indicating a growth of approximately 103.5%[20]. Dividends and Share Repurchases - The company declared an interim dividend of HKD 4.00 per share, doubling the HKD 2.00 per share declared in the previous year[5]. - The group declared an interim dividend of HKD 0.04 per share, compared to HKD 0.02 per share in the same period last year, marking a 100% increase[25]. - The company repurchased shares amounting to HKD 5,970,000 during the reporting period, contributing to a reduction in issued share capital[10][11]. - The company repurchased a total of 6,736,000 shares during the six months ended June 30, 2024, with the highest repurchase price being HKD 0.96 and the lowest being HKD 0.82[76][77]. - The total amount spent on share repurchases during this period was approximately HKD 6,736,000, excluding fees[76]. Assets and Liabilities - Total assets as of June 30, 2024, amounted to HKD 2,648,943,000, an increase from HKD 2,396,748,000 at the end of the previous year[7]. - Current assets decreased to HKD 1,689,949,000 from HKD 2,230,215,000, indicating a reduction of 24.4%[7]. - The company's cash and cash equivalents were reported at HKD 1,043,809,000, down from HKD 1,703,918,000, a decline of 38.7%[7]. - Non-current assets increased significantly to HKD 1,674,046,000 from HKD 822,380,000, marking a growth of 103.4%[7]. - The company's total liabilities increased to HKD 715,052,000 from HKD 655,847,000, reflecting a rise of 9.0%[9]. - The total equity attributable to equity holders of the company decreased to HKD 730,859,000 as of June 30, 2024, from HKD 738,818,000 at the beginning of the year[10][11]. Cash Flow - The net cash flow from operating activities for the first half of 2024 was HKD 64,090,000, up from HKD 36,793,000 in the previous year, reflecting improved operational efficiency[12]. - The company experienced a net cash outflow from investing activities of HKD 637,283,000, a substantial increase from HKD 59,492,000 in the prior year, primarily due to higher investments in financial assets[12]. - Cash and cash equivalents at the end of the period stood at HKD 1,043,809,000, down from HKD 2,057,816,000 at the end of June 2023, indicating a decrease in liquidity[12]. - As of June 30, 2024, the company held net cash and cash equivalents of HKD 2,708,688,000, an increase from HKD 2,488,966,000 as of December 31, 2023[58]. Investments and Market Strategy - The company is focusing on market expansion strategies to enhance its competitive position[79]. - New product development initiatives are underway, aimed at increasing market share[79]. - Strategic acquisitions are being considered to bolster product offerings and market presence[79]. - The company plans to invest in new technologies to improve operational efficiency[79]. - The company aims to enhance customer engagement through innovative marketing strategies[79]. - The company maintains a cautious investment approach due to uncertainties such as high inflation and weak consumer demand in China[34]. Economic Outlook - Global economic growth is projected at 2.7% for the year, with the Morgan Stanley Global Stock Index rising by 10.3% in the first half of 2024[49]. - The company maintains a cautious optimism regarding its business outlook, anticipating a gradual recovery in the global economy and potential interest rate cuts by the Federal Reserve in the second half of the year[61]. - Future outlook remains positive with projected revenue growth of 15% for the next fiscal year[79].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或 因倚賴該等內容而引致的任何損失承擔任何責任。 GLORIOUS SUN ENTERPRISES LIMITED 旭日企業有限公司 （於百慕達註冊成立之有限公司） (股份代號：393) 中期業績公告 截至二零二四年六月三十日止六個月 中期業績 旭日企業有限公司（「本公司」）董事局（「董事局」）欣然宣佈，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中期簡明綜合業績，連同上年同期之比 較數字如下： 簡明綜合損益表 截至二零二四年六月三十日止六個月 二零二四年 二零二三年 | --- | --- | --- | --- | |---------------------------|-------|-----------------------|---------------------| | | 附註 | ( 未經審核 ) 千港元 | ( 未經審核 ) 千港元 | | 收入 與客戶簽訂合同的收入 | | 403,797 | ...

Financial Performance - Total revenue for the financial investment segment reached HKD 50,946,000, with a profit of HKD 8,332,000[14] - The renovation segment generated revenue of HKD 705,006,000, contributing a profit of HKD 13,968,000[14] - Export business revenue amounted to HKD 273,031,000, with a profit of HKD 10,535,000[14] - Other income and gains totaled HKD 54,175,000, resulting in a profit of HKD 8,049,000[14] - The overall pre-tax profit for the company was HKD 44,565,000[14] - The group's revenue for the year ended December 31, 2023, was HKD 821,237,000, a decrease from HKD 1,060,681,000 in the previous year, representing a decline of approximately 22.5%[51] - Revenue from interior design and renovation projects was HKD 468,726,000, down from HKD 701,643,000, indicating a decrease of about 33.2%[51] - Export business revenue decreased to HKD 244,313,000 from HKD 268,191,000, reflecting a decline of approximately 8.9%[51] - Retail, franchise, and other income increased to HKD 58,483,000 from HKD 48,277,000, marking an increase of about 21.5%[51] - Total revenue from customer contracts reached HKD 771,522,000, with contributions from Mainland China (HKD 463,609,000), export business (HKD 244,313,000), and others (HKD 58,483,000) [136] - Revenue from the interior design and renovation segment was HKD 701,643,000, while the export business generated HKD 268,191,000, and retail and other segments contributed HKD 48,277,000, totaling HKD 1,018,111,000 [141] Expenses and Liabilities - Depreciation expenses across segments totaled HKD 7,941,000, with the renovation segment accounting for HKD 7,797,000[14] - Capital expenditures for the company were reported at HKD 3,133,000, with HKD 2,855,000 allocated to renovation projects[14] - The company reported a total interest expense of HKD 2,510,000 for bank loans and lease liabilities [158] - The depreciation of property, plant, and equipment was HKD 3,494,000, while the depreciation of right-of-use assets was HKD 5,921,000 [161] - The company experienced a net loss of HKD 4,504,000 from inventory provisions during the year, compared to a provision of HKD 323,000 in the previous year [161] Leadership and Governance - The company has appointed Mr. Yang Jian and Ms. Zhang Huiyi as executive directors, indicating a strategic leadership change[11][12] - The board has recommended adjustments to the executive directors' remuneration for 2023, reflecting a commitment to aligning compensation with performance[125] - The company’s total remuneration for executive directors in 2023 was HKD 2,485,000, slightly up from HKD 2,461,000 in 2022, indicating a 1% increase[8] - No additional remuneration was payable to independent non-executive directors in 2023, consistent with 2022[165] - The total remuneration for the highest-paid employees was not disclosed, but the number of such employees remained at five[175] - The company did not report any arrangements for directors to waive or agree to waive their remuneration during the year[172] Taxation and Compliance - The company is not affected by the Pillar Two tax rules, as it does not fall within the scope of these regulations[15] - The company confirmed all taxable temporary differences as deferred tax liabilities, with exceptions noted[72] - Deferred tax assets are recognized for all deductible temporary differences and unused tax credits, limited to the extent that taxable profits are expected to be available[73] - The expected tax rates for deferred tax assets and liabilities are based on rates enacted or substantially enacted at the reporting date[74] - The company is subject to a corporate income tax rate of 25% on taxable profits for its subsidiaries established in mainland China[176] Market Strategy and Future Outlook - The group plans to expand its market presence and aims to become a leader in the regional apparel retail market[66] - The company is focused on enhancing its operational segments, particularly in interior design and renovation, to improve overall profitability[116] - The company is focused on expanding its market presence and enhancing its product offerings through strategic initiatives [152] - The company plans to monitor liquidity risks using regular cash flow management tools [149] - The company plans to hold its annual general meeting on May 24, 2024, to discuss future strategies and performance[104] Financial Position and Assets - The company reported a non-current asset value of HKD 35,545,000 as of December 31, 2023, compared to HKD 30,474,000 in 2022, reflecting an increase of 16.5%[121] - The fair value of non-listed equity investments increased by HKD 89,000 due to a sensitivity analysis on significant unobservable inputs[107] - The company maintained a discount for lack of marketability at 15.7% in 2023, slightly down from 15.8% in 2022[107] - The average number of ordinary shares in issue during the year was 1,524,438,630, a slight decrease from 1,527,985,000 in 2022[184] - The company’s pension contributions for executive directors increased to HKD 102,000 in 2023 from HKD 101,000 in 2022[8] Credit Risk Management - The expected credit loss for debt investments was calculated based on default risk and contractual loss assumptions, indicating a proactive approach to financial risk management[115] - The group has established a provision matrix based on historical credit loss experience, adjusted for specific forward-looking factors related to debtors and economic conditions[58] Lease Accounting - The group has adopted a single recognition and measurement approach for all leases, excluding short-term leases and low-value asset leases[39] - The group uses incremental borrowing rates to calculate the present value of lease payments, reflecting interest increases and adjustments for any changes in lease terms[42]