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，概不對因本公佈全部或任何部分內容而產生或 因倚賴該等內容而引致的任何損失承擔任何責任。 Cocoon Holdings Limited 中國天弓控股有限公司 （於開曼群島註冊成立並於百慕達存續之有限公司） （股份代號：428） 截至二零二二年十二月三十一日止年度 之年度業績公佈 財務摘要 中國天弓控股有限公司（「本公司」）及其附屬公司（統稱「本集團」）於截至二零 二二年十二月三十一日止年度（「報告期間」）的財務摘要概述如下： — 本集團於截至二零二二年十二月三十一日止年度的收入及出售交易證券 所得款項總額分別約為4,552,000港元及8,880,000港元，而去年則分別約 為7,696,000港元及9,629,000港元。 — 截至二零二二年十二月三十一日止年度的本公司擁有人應佔虧損約為 48,079,000港元，而去年則為虧損約28,643,000港元。 — 本公司董事（「董事」）會（「董事會」）不建議就截至二零二二年十二月 三十一日止年度派付末期股息（二零二一年：零）。 — 截至二零 ...

Financial Performance - The Group's revenue for the six months ended June 30, 2022, was approximately HK$2.4 million, a decrease from approximately HK$3.8 million for the same period in 2021[19]. - Loss attributable to owners of the Company for the Reporting Period was approximately HK$33.7 million, significantly higher than the loss of approximately HK$3.0 million for the Corresponding Period[19]. - Basic loss per share for the Group was HK cents 7.81 for the Reporting Period, compared to HK cents 0.83 for the Corresponding Period[19]. - The Group recorded a revenue of approximately HK$2.4 million for the Reporting Period, a decrease of approximately 36.8% compared to HK$3.8 million in the Corresponding Period[30]. - The Group suffered a loss attributable to owners of approximately HK$33.7 million, compared to a loss of approximately HK$3.0 million for the Corresponding Period[30]. - The Group reported a loss for the period attributable to owners of HK$33,727,000, compared to a loss of HK$3,028,000 in the previous period[139]. - Basic and diluted loss per share was HK$7.81, compared to HK$0.83 in the prior period[139]. - The company experienced a significant increase in accumulated losses, reaching HK$96,924,000[143]. - The company reported a total comprehensive expense of HK$33,727,000 for the period[143]. Dividends and Shareholder Returns - The Board resolved not to declare an interim dividend for the Reporting Period, consistent with the Corresponding Period where no dividend was declared[19]. - The company did not declare any interim dividend for the reporting period, consistent with the previous year[167]. - No discretionary bonuses were paid during the period, maintaining the same policy as in the prior year[163]. Assets and Liabilities - As of 30 June 2022, the Group's net assets were approximately HK$110.7 million, down 23.4% from HK$144.4 million at 31 December 2021[38]. - The Group's borrowings were approximately HK$17.9 million as of 30 June 2022, compared to HK$21.3 million at 31 December 2021, with a gearing ratio of approximately 16.5%[38]. - Total assets less current liabilities decreased to HK$124,238,000 from HK$158,111,000[141]. - Net current assets declined to HK$48,648,000, down from HK$82,824,000[141]. - The company's net assets were HK$110,676,000, a decrease from HK$144,403,000[141]. - The net asset value per share was HK$0.26, down from HK$0.33[141]. Investments and Securities - The Group plans to focus on investing in trading securities, private equity funds, and private enterprises with potential prospects in the second half of 2022[26]. - The Group's fair value loss on listed securities was approximately HK$33.6 million during the Reporting Period, significantly higher than HK$5.7 million in the Corresponding Period[30]. - The Group's unlisted investments were approximately HK$105.9 million as of 30 June 2022, slightly up from HK$103.8 million at 31 December 2021[31]. - The Group's trading securities were pledged to a securities broker, with a carrying amount of approximately HK$6.2 million as of June 30, 2022, up from HK$1.2 million at the end of 2021[92]. - The Group views its investments in Tencent, Alibaba, and SMIC as long-term holdings, expecting to monitor their performance closely[67][70][76]. Cash Flow and Financing - The Group had available funds of approximately HK$0.2 million as of 30 June 2022, down from HK$1.8 million at 31 December 2021[37]. - Net cash generated from operating activities was HK$582,000 for the six months ended June 30, 2022, compared to a net cash used of HK$22,401,000 in the same period of 2021[146]. - The Group's net cash used in financing activities was HK$5,603,000, compared to net cash generated of HK$14,743,000 in the prior year[146]. - The total cash flow used in financing activities included a redemption of a promissory note amounting to HK$5,000,000[146]. Corporate Governance - The Company has complied with the Corporate Governance Code during the six months ended June 30, 2022, with a noted deviation regarding the separation of the roles of chairman and chief executive officer[4]. - The chief executive officer position has been vacant since June 20, 2022, following the resignation of Ms. Chan Carman Wing Yan[4]. - The Board will continue to monitor and review the Company's corporate governance practices to ensure compliance with the Code[4]. - The new bye-laws of the Company were adopted on June 17, 2022, and are available on the Stock Exchange's website[115]. Share Options and Capital Structure - The Company has adopted a share option scheme allowing for the issuance of up to 43,167,222 shares, representing approximately 8.33% of the issued share capital, with a maximum of 10% of shares in issue as of the adoption date[113][114]. - No share options had been granted or exercised under the scheme as of the date of the report[114]. - The share option scheme is valid for ten years from the adoption date, with approximately 9 years and 10 months remaining[117]. - No share options have been granted, agreed to be granted, exercised, cancelled, expired, or lapsed as of the report date[117]. Market Conditions and External Factors - The external environment, including COVID-19 and the Russo-Ukrainian war, is expected to continue affecting the Group's financial performance[25].

Cocoon Holdings Limited 中國天弓控股有限公司 (Incorporated in the Cayman Islands with limited liability and continued in Bermuda with limited liability) (Stock Code 股份代號 : 428) （在開曼群島註冊成立並在百慕達存續之有限公司） ANNUAL REPORT 2021年報 This annual report, in both English and Chinese versions, is available on the Company's website at www.cocoon.holdings (the "Company Website"). Shareholders who have chosen or have been deemed consented to receive the corporate communications of the Company (the "Corporate Communications") via the C ...

ai163160700072_Cocoon IR2021 Cover v01 output.pdf 1 14/9/2021 下午4:10 | --- | --- | --- | --- | --- | |---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------|-------|-------|-------| | | | | | | | Cocoon Holdings Limited | | | | | | 中國天弓控股有限公司 (Incorporated in the Cayman Islands with limited liability and continued in Bermuda with limited liability) （在開曼群島註冊成立並在百慕達存續之有限公司） | | | ...

Cocoon Holdings Limited 中國天弓控股有限公司 (formerly known as Huge China Holdings Limited) （前稱為匯嘉中國控股有限公司） (Incorporated in the Cayman Islands with limited liability) (Stock Code 股份代號 : 428) （於開曼群島註冊成立之有限公司） ANNUAL REPORT 2020 年 報 This annual report, in both English and Chinese versions, is available on the Company's website at www.cocoon.holdings (the "Company Website"). Shareholders who have chosen or have been deemed consented to receive the corporate communications of the Company (the "Corporate Communications" ...

Financial Performance - The Group's revenue for the six months ended June 30, 2020, was approximately HK$4,001,000, a decrease of approximately 11.9% compared to HK$4,539,000 in the same period last year[12][21]. - Loss attributable to owners of the Company for the six months ended June 30, 2020, was approximately HK$9,434,000, an improvement from a loss of approximately HK$11,273,000 in the same period last year[13][23]. - Basic loss per share for the Group was HK$0.03 for the six months ended June 30, 2020, compared to HK$0.09 per share in the same period last year[13][16]. - The Group recorded realised gains on listed securities of approximately HK$585,000, down from approximately HK$1,737,000 in the same period last year[22]. - Unrealised losses on listed securities were approximately HK$2,538,000, significantly reduced from HK$11,781,000 in the same period last year[22][23]. - The company reported a loss attributable to owners of approximately HK$9,434,000 for the six months ended June 30, 2020, a decrease from a loss of approximately HK$11,273,000 in the same period last year, primarily due to a reduction in unrealized losses on listed securities by about HK$2,538,000[26]. - For the six months ended June 30, 2020, the Group recorded revenue of approximately HK$4,001,000, representing a decrease of approximately 11.9% compared to HK$4,539,000 in the same period last year[52]. - Loss before tax for the period was HK$9,434,000, compared to a loss of HK$11,273,000 in the previous year, representing a 16.3% improvement[124]. - The basic and diluted loss per share for the six months ended 30 June 2020 was HK$(0.03), unchanged from HK$(0.09) in 2019[159]. Financial Position - As of June 30, 2020, the net assets of the Group were approximately HK$157,282,000, a decrease of approximately 5.1% from HK$165,716,000 as of December 31, 2019[23]. - The group had available bank balances and cash of approximately HK$21,646,000 as of June 30, 2020, down from HK$28,187,000 as of December 31, 2019[32]. - The group had borrowings of approximately HK$21.5 million as of June 30, 2020, compared to HK$22.3 million as of December 31, 2019, with a gearing ratio of approximately 13.4%[34]. - Total assets less current liabilities amounted to HK$177,264,000 as of June 30, 2020, down from HK$185,844,000 at December 31, 2019[126]. - Net assets decreased to HK$157,282,000 as of June 30, 2020, compared to HK$165,716,000 at the end of 2019[126]. - The net asset value per share as of June 30, 2020, was HK$0.44, down from HK$0.46 at the end of 2019[126]. - The company’s accumulated losses increased to HK$39,822,000 as of June 30, 2020, from HK$30,388,000 at the end of 2019[129]. - Cash and cash equivalents decreased to HK$21,646,000 as of June 30, 2020, from HK$28,187,000 at the beginning of the year, reflecting a decrease of 23.2%[132]. - The Group's net decrease in cash and cash equivalents for the six months ended June 30, 2020, was HK$6,541,000, compared to HK$4,326,000 in 2019, indicating a worsening cash flow situation[132]. Investment Activities - The company plans to focus on investing in trading securities, private equity funds, and private enterprises with potential prospects in the second half of 2020[31]. - The fair value of financial assets recognized in other comprehensive income increased to approximately HK$30,400,000 as of June 30, 2020, from HK$29,400,000 as of December 31, 2019, due to fair value changes in the 20% equity interest in Perfect Path Limited[26]. - The Group recognized interest income of approximately HK$823,000 from the loan note investment in Qianhai Blue Prince for the six months ended June 30, 2020, compared to zero in the same period in 2019[60]. - The Group recognized interest income of approximately HK$1.2 million from the loan note investment in Dalong Packaging Machinery for the six months ended June 30, 2020, consistent with the same period in 2019[62]. - The Group's unlisted investments were approximately HK$128,947,000 as of June 30, 2020, slightly down from HK$129,977,000 as of December 31, 2019[54]. - The Group's trading securities were pledged to a securities broker to secure a margin loan, reflecting a strategic financial maneuver[190]. - The Group entered into extension agreements for the maturity date of convertible bonds, reflecting proactive financial management[194]. Dividend and Shareholder Information - The Board resolved not to declare an interim dividend for the six months ended June 30, 2020[15][18]. - The company did not declare any interim dividend for the six months ended 30 June 2020, consistent with the previous year[154]. - Following the completion of the Rights Issue in October 2019, certain shareholders' interests have reduced to below 5% as of June 30, 2020[105]. - As of June 30, 2020, Chen Chien Yeh holds 97,830,790 ordinary shares, representing 27.20% of the total issued ordinary shares of the Company[101]. - Twu Kai Ting holds 6,240,000 ordinary shares, accounting for 1.73% of the total issued ordinary shares[101]. - Solution Smart Holdings Limited and its associated entities hold 5,174,000 ordinary shares, which is 1.44% of the total issued ordinary shares[101]. Market Outlook and Challenges - The company expects challenges in 2020 due to slow growth projections for Hong Kong and China, as well as the ongoing impact of the COVID-19 outbreak on financial performance[30]. - The Group believes that the fund flows into Hong Kong signal a positive outlook for the Hong Kong financial market[24]. - The group noted that the influx of capital into Hong Kong is a positive signal for the financial market, with the stock market experiencing significant gains since June 2020[27]. - The credit rating agency expects the default rate to rise materially to 6.4% by the end of 2020 due to the coronavirus-led downturn[40]. Impairment and Losses - Impairment losses of approximately HK$6,032,000 and deposits of approximately HK$1,592,000 were recognized during the six months ended 30 June 2020[40]. - Total impairment loss made during the period was HK$7,623,000, while there was no impairment loss reported in the same period of 2019[142]. - Impairment losses on loans rose to HK$11,650,000 for the first half of 2020, up from HK$5,619,000 in the previous year, indicating a 107.5% increase[179]. Corporate Governance and Compliance - The Company has complied with all code provisions set out in the Corporate Governance Code during the six months ended June 30, 2020[107]. - The audit committee has reviewed the accounting principles and practices adopted by the Group for the six months ended June 30, 2020[115]. - There were no significant events requiring disclosure that occurred after June 30, 2020[115].

Financial Performance - For the year ended December 31, 2019, the Group recorded a revenue of approximately HK$8,988,000, representing a decrease of approximately 16.9% compared to HK$10,812,000 in the prior year[21]. - The Group reported a loss attributable to owners of the Company of approximately HK$35,361,000, an improvement from a loss of approximately HK$78,458,000 in the prior year[21]. - The Group recorded a realized loss of HK$9,903,000 on listed securities held, compared to a loss of HK$45,350,000 in the previous year[21]. - The Group experienced a realized loss of HK$9,903,000 on listed securities and a fair value loss of HK$9,025,000 during the year[35]. - The loss attributable to owners of the Company was approximately HK$35,361,000, compared to a loss of approximately HK$78,458,000 in the previous year[35]. - The Group recognized a loss on disposal of certain loan notes of approximately HK$2,064,000 during the year[21]. - The Group's unlisted investments were approximately HK$129,977,000, down from HK$144,460,000 in 2018[85]. - The Group held trading securities of approximately HK$7,286,000 as of December 31, 2019, a significant decrease from HK$31,812,000 in 2018[84]. Asset Management - As of December 31, 2019, the net assets of the Group were approximately HK$165,716,000, reflecting a significant increase of 22.4% compared to HK$135,391,000 in 2018[22]. - Financial assets at fair value through profit or loss decreased from approximately HK$85,069,000 in 2018 to approximately HK$26,806,000 in 2019[36]. - The financial assets at fair value through other comprehensive income were approximately HK$29,400,000, compared to HK$35,176,000 in 2018[22]. - As of December 31, 2019, the Group's borrowings decreased to approximately HK$22,268,000 from HK$57,654,000 in 2018, resulting in a gearing ratio of 13.4% compared to 42.6% in the previous year[49]. - The Group had available funds of approximately HK$28,187,000 as of December 31, 2019, primarily held in banks for general working capital[48]. Investment Strategy - The Group plans to focus on investing in trading securities, private equity funds, and private enterprises with potential prospects in 2020[28]. - The Company aims to implement timely and appropriate investment strategies to enhance its investment portfolio and achieve net asset appreciation amid a volatile market[44]. - The Company will continue to monitor macro trends and seek investment opportunities in China, Hong Kong, and overseas[44]. - The Group's strategy focuses on consolidating existing businesses and seeking future domestic and international investment opportunities to enhance financial growth and shareholder value[80]. Market Conditions - The external environment is expected to pose challenges in 2020 due to slow growth projections for Hong Kong and China, as well as the outbreak of coronavirus[28]. - The Hong Kong economy contracted by 1.2% in 2019, marking the first annual decline since 2009, with significant contractions of 2.8% and 2.9% in the third and fourth quarters respectively[45]. - China's GDP growth rate was 6.1% in 2019, the lowest in 29 years, but still within the government's target range of 6% to 6.5%[46]. Corporate Governance - The Group emphasizes sound corporate governance to attract investment and enhance shareholder value[155]. - The Group has established a whistleblowing hotline for stakeholders to discuss areas of concern[146]. - The Group's ESG report aims to increase stakeholders' confidence and understanding of its sustainability actions[143]. Environmental Impact - The Group's total greenhouse gas emissions for the year were 8.69 tonnes, an increase of 62% from 5.36 tonnes in 2018[167]. - The annual emission intensity was 0.17 tCO2e/m2, up from 0.05 tCO2e/m2 in 2018[167]. - The Group's indirect emissions (Scope 2) decreased by 3% to 3.53 tonnes from 3.63 tonnes in 2018[167]. - Other indirect emissions (Scope 3) increased by 200% to 5.16 tonnes, up from 1.72 tonnes in 2018[167]. - The Group promotes a paperless office initiative, encouraging electronic storage and communication to reduce paper waste[172]. Employee Management - The remuneration policy ensures competitive pay levels to attract and retain employees, with a total of 3 full-time employees as of December 31, 2019[122][126]. - The Group had a total of 3 employees as of December 31, 2019, down from 4 in 2018, with 100% being full-time staff in Hong Kong[181]. - The Group's employee turnover rate was 34% for males and 17% for females in 2019[195]. - The Group is committed to ensuring a safe and healthy working environment, with no non-compliance cases reported in occupational health and safety regulations[197].

Cocoon IR2019 Cover output.pdf 1 11/9/2019 下午3:50 Cocoon Holdings Limited 中國天弓控股有限公司 Cocoon Holdings Limited 中國天弓控股有限公司 (formerly known as Huge China Holdings Limited) （前稱為匯嘉中國控股有限公司） (Incorporated in the Cayman Islands with limited liability) (Stock Code 股份代號 : 428) （於開曼群島註冊成立之有限公司） 2019 INTERIM REPORT 中期報告 This interim report 2019, in both English and Chinese versions, is available on the Company's website at www.hugechina.com.hk (the "Company Website"). 本2019中期報告的中、英文版已登載於本公司網 站www.huge-china.com.hk（「本公司 ...

Financial Performance - For the year ended December 31, 2018, the Group recorded a revenue of HK$10,812,000, representing an increase of 2.3% compared to HK$10,570,000 in the prior year[33]. - The Group reported a loss attributable to owners of the Company of HK$69,782,000, an improvement from a loss of HK$205,508,000 in the previous year[33]. - The Group recorded a realized loss of HK$45,350,000 on listed securities, down from HK$84,437,000 in 2017[33]. - The fair value loss on listed securities was HK$10,817,000, compared to HK$108,461,000 in the previous year[33]. - Revenue for the year ended December 31, 2018, was HK$10,812,000, representing an increase of approximately 2.3% from HK$10,570,000 in the prior year[67]. - The Group reported a realized loss of HK$45,350,000 on listed securities and an unrealized loss of HK$10,817,000 during the year[68]. Assets and Liabilities - As of December 31, 2018, the net assets of the Group were approximately HK$135,391,000, a decrease of 22.5% from HK$174,734,000 in 2017[34]. - The financial assets at fair value through profit or loss decreased from HK$201,399,000 in 2017 to HK$85,069,000 in 2018[34]. - Financial assets at fair value through other comprehensive income amounted to approximately HK$35,176,000, recognized for the first time in 2018[34]. - As of December 31, 2018, trading securities held by the Group amounted to HK$31,812,000, a decrease from HK$90,326,000 in 2017[69]. - Unlisted investments increased to HK$144,460,000 in 2018 from HK$117,619,000 in 2017[70]. - The Group's borrowings increased to HK$57,654,000 in 2018 from HK$44,224,000 in 2017, resulting in a gearing ratio of 42.6% compared to 25.3% in the previous year[60]. Future Outlook - The Group anticipates challenges in 2019 due to slow growth projections for Hong Kong and China, with Hong Kong's GDP growth expected to slow to between 2% and 3%[57]. - The Group anticipates a challenging year in 2019 due to slowing economic growth in Hong Kong and China, with a focus on investing in promising securities and private equity[62]. Corporate Actions - The Company changed its name from "Huge China Holdings Limited" to "Cocoon Holdings Limited" on June 29, 2018[35]. - The company raised approximately HK$10,730,000 from the placing of 14,000,000 ordinary shares, with about HK$8,800,000 allocated for repayment of short-term loans and interest payments[76]. - The placing of 19,980,000 ordinary shares generated approximately HK$19,730,000, intended for investment in listed and/or unlisted securities, with HK$10,000,000 specifically earmarked for this purpose[78]. - The Company plans to change its domicile from the Cayman Islands to Bermuda, which will not affect its legal continuity[100]. - The capital reorganisation includes a reduction of share premium to nil, with approximately HK$184.5 million applied to offset accumulated losses[104]. Risk Management - The Board will continue to implement its risk management policy to achieve stable returns on investments for shareholders[58]. - The risk management framework includes risk identification, assessment, treatment, and monitoring[93]. - The Audit Committee ensures the effectiveness of the first and second lines of defense in risk management through constant inspection[93]. - The Group has no significant exposures to fluctuations in foreign exchange rates and did not employ financial instruments to hedge such exposures[95]. Employee and Governance - The company employed a total of 4 full-time employees as of December 31, 2018, including executive directors[84]. - The remuneration policy ensures competitive pay levels to attract and retain employees, with no director involved in deciding their own remuneration[85]. - The key components of the remuneration package include basic salary, allowances, discretionary cash bonuses, and a mandatory provident fund[86]. - The Group is committed to providing a safe and healthy working environment for all employees, regardless of age, gender, or ethnic background[148]. - The Group encourages personal development through external training opportunities and provides special leave for training purposes[163]. Environmental, Social, and Governance (ESG) - The ESG report covers the group's performance in environmental and social aspects from January 1, 2018, to December 31, 2018[111]. - The Group's total greenhouse gas emissions during the Period under Review were 5.36 tonnes, a decrease of 27% from 7.28 tonnes in 2017[130]. - The annual emission intensity was 0.05 tCO2e/m2, down from 0.06 tCO2e/m2 in 2017, attributed to efficient energy control measures[130]. - The Group implemented paper-saving initiatives, including duplex printing and electronic communication, to reduce paper waste[133]. - The Group has established a whistleblowing hotline for stakeholders to discuss areas of concern that could impact business growth[121]. Compliance and Legal - The Group has complied with relevant laws and regulations in the Cayman Islands, British Virgin Islands, and Hong Kong that significantly impact its operations[190]. - The Group had no noncompliance cases regarding violations of child labour and forced labour laws during the review period[170]. - There were no non-compliance cases noted regarding environmental laws and regulations during the Period under Review[142].