Financial Performance - The rental income for the year ended December 31, 2024, was approximately HKD 25,400,000, an increase from HKD 23,400,000 in 2023, primarily due to a rise in overall property portfolio occupancy rates [8]. - For the fiscal year ending December 31, 2024, the company reported a revenue of HKD 25,383,000, an increase of 8.3% compared to HKD 23,437,000 in 2023 [32]. - The gross profit for the same period was HKD 19,380,000, reflecting a gross margin of approximately 76.4% [32]. - The company reported a net loss of HKD 37,919,000 for the year, compared to a loss of HKD 40,816,000 in 2023, indicating a narrowing of losses [32]. - The company incurred a loss from continuing operations before tax of HKD 35,439,000, an improvement from a loss of HKD 38,068,000 in the previous year [32]. - Total comprehensive loss attributable to shareholders for 2024 was HKD 37,929,000, slightly improved from HKD 40,753,000 in 2023 [128]. - The basic and diluted loss per share for 2024 was HKD 0.0977, an improvement from HKD 0.1051 in 2023 [127]. Financial Position - As of December 31, 2024, the group's cash and cash equivalents were approximately HKD 8,200,000, a significant decrease from HKD 159,000,000 in 2023 [11]. - Total assets decreased to HKD 1,636,266,000 from HKD 1,815,307,000 in 2023, representing a decline of approximately 9.9% [34]. - Total liabilities also decreased to HKD 210,247,000 from HKD 343,596,000, marking a reduction of about 38.7% [34]. - The company's net assets as of December 31, 2024, were HKD 1,426,019,000, down from HKD 1,471,711,000 in 2023 [132]. - The group had a net current liability of approximately HKD 158,051,000, slightly up from HKD 155,942,000 in 2023 [149]. Cash Flow - Operating cash flow before changes in working capital was HKD 14,329,000, up from HKD 13,210,000 in 2023, indicating an increase of about 8.5% [139]. - Net cash inflow from operating activities was HKD 10,287,000, down from HKD 12,212,000 in 2023, reflecting a decrease of approximately 15.8% [139]. - The company experienced a net cash outflow from investing activities of HKD 14,075,000, compared to a net inflow of HKD 971,000 in 2023, indicating a significant change in investment strategy [139]. - Cash and cash equivalents at the end of the year were HKD 8,167,000, a decrease from HKD 158,992,000 at the beginning of the year, representing a decline of approximately 94.9% [141]. - The net cash outflow from financing activities was HKD 146,872,000, compared to HKD 27,962,000 in 2023, indicating a substantial increase in financing costs [141]. Business Strategy and Outlook - The group plans to expand its business and invest in real estate development in Malaysia, actively seeking opportunities to acquire quality properties and land reserves for sustained long-term growth [17]. - The residential leasing market remains slightly resilient due to demand from high-income groups, although the office and retail markets in Hong Kong are expected to face complex challenges in 2025 [17]. - The company continues to explore market expansion opportunities and new product development strategies [28]. Corporate Governance - The board of directors has confirmed compliance with relevant laws and regulations, with no significant violations reported during the review year [37]. - The company has adhered to the corporate governance code principles and rules throughout the fiscal year ending December 31, 2024 [72]. - The board consists of three executive directors and four independent non-executive directors, with independent directors accounting for over one-third of the total board members [76]. - The company has arranged directors and officers liability insurance, which is reviewed annually [77]. - The board believes that effective corporate governance practices are essential for maintaining stakeholder trust and long-term value creation [71]. Risk Management - The company has confirmed the effectiveness and adequacy of its risk management and internal control systems for the fiscal year ending December 31, 2024 [97]. - The audit committee is responsible for overseeing the financial reporting process of the group [121]. - The auditor's goal is to obtain reasonable assurance that the consolidated financial statements are free from material misstatement due to fraud or error [122]. Environmental and Social Responsibility - The company has implemented various policies and measures to reduce its environmental impact and promote sustainability [36]. Shareholder Information - The proposed final dividend is HKD 0.006 per share, in addition to an interim dividend of HKD 0.008 per share, totaling HKD 0.014 per share for the fiscal year [30]. - The company declared dividends totaling HKD 7,763,000 for the year, consistent with prior year distributions [136].

Financial Performance - For the fiscal year ending December 31, 2024, the company reported total revenue of HKD 25,383,000, an increase of 8.3% from HKD 23,437,000 in 2023[2] - The gross profit for the same period was HKD 19,380,000, up from HKD 18,241,000, reflecting a gross margin improvement[2] - The company recorded a loss before tax of HKD 35,439,000, a slight improvement from a loss of HKD 38,068,000 in the previous year, indicating a reduction in losses by 4.3%[2] - The total comprehensive loss attributable to shareholders for the year was HKD 37,929,000, compared to HKD 40,753,000 in 2023, showing a decrease of 6.9%[4] - The group reported a pre-tax loss of approximately HKD 37,919,000 for 2024, compared to a loss of HKD 40,816,000 in 2023, indicating an improvement of 4.7%[29] - The total tax expense for the year 2024 was HKD 2,480,000, a decrease of 9.8% from HKD 2,748,000 in 2023[27] - The basic and diluted loss per share for the year was HKD 0.0977, compared to HKD 0.1051 in 2023, indicating an improvement in loss per share[2] - The basic loss per share for 2024 was calculated based on a weighted average of 388,183,600 shares, resulting in a loss of approximately HKD 0.097[29] Assets and Liabilities - The company's total assets less current liabilities stood at HKD 1,453,856,000, down from HKD 1,498,590,000 in 2023, indicating a decline of 3.0%[5] - Non-current liabilities remained stable at HKD 27,837,000, compared to HKD 26,879,000 in the previous year[6] - The company's cash and cash equivalents significantly decreased to HKD 8,167,000 from HKD 158,992,000, a drop of 94.9%[5] - The company reported a net asset value of HKD 1,426,019,000, down from HKD 1,471,711,000, reflecting a decrease of 3.1%[6] - As of December 31, 2024, the group's total borrowings amounted to approximately HKD 164.9 million, a decrease from HKD 294.7 million in 2023, with a debt-to-equity ratio of approximately 11.56%[38] Income and Expenses - Rental income from investment properties for the year 2024 was HKD 25,383,000, an increase of 8.3% from HKD 23,437,000 in 2023[22] - Interest income from bank deposits decreased significantly to HKD 109,000 in 2024 from HKD 981,000 in 2023, a decline of 88.9%[22] - The group’s total employee costs for 2024 were HKD 2,505,000, down from HKD 2,575,000 in 2023, reflecting a reduction of 2.7%[23] - Employee expenses, including director remuneration, were approximately HKD 2.5 million for the year, slightly down from HKD 2.6 million in 2023[41] - The proposed final dividend for 2024 is HKD 2,329,000, a decrease of 50% compared to HKD 4,658,000 in 2023[28] Market Outlook and Strategy - The group plans to expand its business and invest in real estate development in Malaysia, actively seeking opportunities to acquire quality properties and land reserves[42] - The group anticipates complex challenges in the Hong Kong office and retail markets in 2025 due to declining corporate and consumer demand and increased market supply[42] Other Information - The fair value loss adjustment for investment properties in 2024 was HKD 42,610,000, slightly lower than the HKD 44,600,000 loss in 2023[30] - Trade receivables increased to HKD 371,000 in 2024 from HKD 224,000 in 2023, representing a growth of 65.5%[31] - The group has no significant foreign exchange risk as most of its monetary assets and liabilities are denominated in HKD[37] - The group has no significant contingent liabilities as of December 31, 2024[39] - There are no significant post-reporting date events that require disclosure as of the announcement date[40]

Financial Performance - The company reported revenue of HKD 12,458,000 for the six months ended June 30, 2024, representing a 10.4% increase from HKD 11,287,000 in the same period last year[6]. - Gross profit for the period was HKD 9,691,000, up 14.2% from HKD 8,483,000 year-on-year[6]. - The net profit attributable to shareholders was HKD 2,780,000, an increase of 22.1% compared to HKD 2,277,000 in the previous year[6]. - Basic and diluted earnings per share increased to HKD 0.72 from HKD 0.59, reflecting a growth of 22%[6]. - Revenue from rental income for the six months ended June 30, 2024, was HKD 12,458,000, an increase of 10.9% from HKD 11,287,000 in 2023[18]. - Profit for the six months ended June 30, 2024, rose by approximately HKD 500,000 or 22% to about HKD 2,800,000, up from HKD 2,300,000 in 2023[44]. Assets and Liabilities - Total assets as of June 30, 2024, were HKD 1,654,524, slightly down from HKD 1,654,532 at the end of 2023[9]. - The company's net asset value decreased to HKD 1,469,647 from HKD 1,471,711 at the end of 2023[9]. - Cash and cash equivalents decreased significantly to HKD 7,995,000 from HKD 158,992,000, indicating a liquidity challenge[9]. - Trade receivables decreased from HKD 224 million as of December 31, 2023, to HKD 182 million as of June 30, 2024, representing a decline of approximately 18.75%[26]. - Cash and cash equivalents dropped significantly from HKD 158,992 million as of December 31, 2023, to HKD 7,995 million as of June 30, 2024, indicating a decrease of about 95%[27]. - As of June 30, 2024, total borrowings amounted to approximately HKD 151,800,000, a decrease from HKD 294,700,000 as of December 31, 2023[47]. - The debt-to-equity ratio as of June 30, 2024, was approximately 10.33%, down from 20.02% as of December 31, 2023[47]. Expenses - Operating and administrative expenses rose to HKD 2,989,000 from HKD 2,700,000, indicating an increase of 10.7%[6]. - The total employee expenses for the period were HKD 1,074,000, a decrease of 4.7% from HKD 1,127,000 in the previous year[19]. - Financing costs for the six months ended June 30, 2024, amounted to HKD 3,693,000, compared to HKD 3,301,000 in 2023, indicating an increase of 11.9%[20]. - The estimated tax expense for the period was HKD 486,000, a decrease of 52.2% from HKD 1,018,000 in the previous year[22]. Shareholder Information - The company declared an interim dividend of HKD 0.008 per share, totaling HKD 3,105,000, consistent with the previous year's interim dividend[24]. - As of June 30, 2024, the company's director holds 291,137,700 shares, representing approximately 75.00% of the total issued shares[54]. - Major shareholders include Limitless Investment Limited and Multifield International Holdings, both holding 291,137,700 shares, equating to 75.00% of the total issued shares[58]. - The company has not purchased, sold, or redeemed any of its listed securities in the six months ending June 30, 2024[63]. - The company plans to suspend share transfer registration from September 25 to September 27, 2024, for the purpose of qualifying for the interim dividend[60]. Corporate Governance - The audit committee has reviewed the accounting principles and practices adopted by the group, including the unaudited interim results for the six months ending June 30, 2024[64]. - The company has adopted the corporate governance code as per the Hong Kong Stock Exchange Listing Rules, ensuring compliance with principles and provisions[65]. - All directors confirmed adherence to the standard code of conduct for securities trading as stipulated in the Listing Rules[66]. - The interim report for the year 2024, containing all required information, is available on the company's website and the Hong Kong Stock Exchange website[67]. - The executive directors of the company are Mr. Liu Zhi Yong and Mr. Liu Zhi Qi, with independent non-executive directors including Mr. Lu Min Lin, Mr. Lau Kam Cheung, and Mr. Xu Jia Hua[68]. Market Outlook - The global economy is expected to face challenges in the second half of 2024 due to ongoing economic slowdown, geopolitical conflicts, and high interest rates[52]. - The demand for office leasing in Hong Kong remains weak, while the residential leasing market is thriving due to potential buyers turning to rental options[52]. - Malaysia's relaxed visa policies for Chinese tourists and broader investment incentives are anticipated to boost the tourism and commercial investment sectors, benefiting the real estate industry[52]. - The company is actively seeking opportunities to acquire quality real estate and land reserves in Malaysia to diversify its real estate investment and development portfolio[52]. Other Information - The company has applied new accounting standards effective from January 1, 2024, but these did not impact the interim financial statements[15]. - The company has no outstanding bank loans as of June 30, 2024, compared to HKD 144 million in bank loans as of December 31, 2023[28][29]. - The company has provided guarantees for bank financing up to HKD 280 million for its subsidiaries, with approximately HKD 150 million utilized as of December 31, 2023[35]. - The company has not issued any stock options since the adoption of the stock option plan on May 25, 2023, and there are no unexercised options as of June 30, 2024[34]. - The company’s investment properties in Hong Kong had a total book value of approximately HKD 598 million as of December 31, 2023, which serve as collateral for bank loans[30]. - The aging analysis of trade receivables shows that HKD 160 million is within one month, down from HKD 202 million as of December 31, 2023, a decrease of about 20.79%[26]. - The company has a loan from a subsidiary amounting to HKD 144 million as of June 30, 2024, with an interest payable of HKD 2.643 million[32]. - The company’s issued and paid-up share capital remains at HKD 38,818 million as of June 30, 2024, unchanged from December 31, 2023[33]. - The company has no current bank loans due within one year as of June 30, 2024, compared to HKD 3 million due as of December 31, 2023[29]. - Total cash outflow for leases during the period was approximately HKD 450,000, unchanged from the same period in 2023[38]. - Future lease receivables as of June 30, 2024, totaled HKD 29,345,000, a decrease from HKD 31,829,000 as of December 31, 2023[36]. - The group employed 8 staff members as of June 30, 2024, with employee expenses totaling approximately HKD 1,100,000, consistent with the previous year[51]. - The group had no significant contingent liabilities as of June 30, 2024[49]. - There were no major acquisitions or disposals of subsidiaries, associates, or joint ventures during the six-month period ended June 30, 2024[45].

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，並明確表示概不就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之任何損失承擔任何責任。 ORIENTAL EXPLORER HOLDINGS LIMITED 東方興業控股有限公司 (於 百 慕達 註 冊成 立 之有 限 公司 ) | --- | --- | |-------|----------------------------------------------------------| | | ( 股份代號 : 430) | | | 澄清公告 關於 截至二零二四年六月三十日止六個月之中期業績 | 茲提述 東方 興 業 控 股 有 限 公司 （ 「 本 公 司 」 ）及 其 附 屬 公 司 (「本 集 團 」 ） 日 期 為二零二四年八月二十八日發佈的截至二零二四年六月三十日止六個月之中期 業績 公 告（「中 期 業績 公 告」）。除文 義另 有 規定 外，本 公告 所 用詞 彙 與中 期業 績公 告 所界 定 者具 有相 同 涵義 。 本公司注意到，本公司之中期業績公告中所述於二零二四 ...

Financial Performance - Revenue for the six months ended June 30, 2024, was HKD 12,458,000, an increase of 10.4% compared to HKD 11,287,000 for the same period in 2023[1] - Gross profit for the same period was HKD 9,691,000, up 14.2% from HKD 8,483,000 year-on-year[1] - Profit attributable to shareholders for the six months ended June 30, 2024, was HKD 2,780,000, representing a 22.1% increase from HKD 2,277,000 in the previous year[2] - Basic and diluted earnings per share increased to HKD 0.72 from HKD 0.59, reflecting a growth of 22%[2] - The company's profit for the six months ended June 30, 2024, increased by approximately HKD 500,000 or 22% to about HKD 2,800,000, compared to HKD 2,300,000 in 2023[20] - Rental income for the same period rose by approximately HKD 1,200,000 or 10% to about HKD 12,500,000, up from HKD 11,300,000 in 2023, primarily due to an increase in overall property occupancy rates[19][20] Assets and Liabilities - Total assets as of June 30, 2024, were HKD 1,668,050,000, a decrease from HKD 1,668,122,000 as of December 31, 2023[3] - Non-current assets remained stable at HKD 1,654,524,000 compared to HKD 1,654,532,000 at the end of 2023[3] - Current liabilities decreased to HKD 172,239,000 from HKD 316,717,000, indicating improved liquidity[4] - The company's cash and cash equivalents as of June 30, 2024, were approximately HKD 8,000,000, down from HKD 159,000,000 as of December 31, 2023[23] - The total borrowings as of June 30, 2024, were approximately HKD 151,800,000, a decrease from HKD 294,700,000 as of December 31, 2023[23] - The company's debt-to-equity ratio as of June 30, 2024, was approximately 10.33%, down from 20.02% as of December 31, 2023[23] - Trade receivables decreased to HKD 182,000 as of June 30, 2024, from HKD 224,000 as of December 31, 2023[17] Income and Expenses - The total tax expense for the period was HKD 486,000, a decrease from HKD 1,018,000 in the previous year[13] - The company reported a significant decrease in interest expenses on bank loans, down to HKD 1,050,000 from HKD 3,301,000[11] - Other income and gains decreased to HKD 297,000 from HKD 822,000, a decline of 63.9% year-on-year[9] Corporate Governance - The company has consistently applied the corporate governance code as per the Hong Kong Stock Exchange listing rules during the six months ending June 30, 2024[31] - All directors confirmed compliance with the standard code of conduct for securities trading during the six months ending June 30, 2024[33] - The audit committee has reviewed the accounting principles and practices adopted by the group and discussed internal controls and financial reporting matters[30] - The board of directors includes executive directors Liu Zhi Yong and Liu Zhi Qi, and independent non-executive directors Lu Min Lin, Lao Jin Xiang, and Xu Jia Hua[34] Market Conditions and Strategy - The global economy is expected to face challenges in the second half of 2024 due to ongoing economic slowdown, geopolitical conflicts, and high interest rates[27] - The demand for office leasing in Hong Kong remains weak, while the residential leasing market is thriving due to potential buyers turning to rental options[27] - Malaysia's relaxed visa policies for Chinese tourists and broader investment incentives are anticipated to boost the tourism and commercial investment sectors, benefiting the real estate industry[28] - The company is actively seeking opportunities to acquire quality real estate and land reserves in Malaysia to diversify its real estate investment and development portfolio[28] Other Information - The company has only one reportable segment, which is rental income from investment properties, with no additional financial information available[8] - There were no significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the reporting period[21] - No purchases, sales, or redemptions of the company's listed securities were made by the company or its subsidiaries during the six months ending June 30, 2024[29] - The company does not face any significant foreign exchange risks as most of its monetary assets and liabilities are denominated in HKD[22] - The company declared an interim dividend of HKD 0.8 per share, consistent with the previous year's interim dividend[14]

Financial Performance - The group recorded a loss of approximately HKD 40.8 million for the year ended December 31, 2023, compared to a profit of HKD 12.2 million in 2022, primarily due to a decrease in rental income and increased financing costs [8]. - Revenue for the year ended December 31, 2023, was HKD 23,437,000, a decrease of 4.8% compared to HKD 24,612,000 in 2022 [39]. - Gross profit for the same period was HKD 18,241,000, down 8.6% from HKD 19,960,000 in 2022 [39]. - The loss from continuing operations before tax was HKD 38,068,000, compared to a profit of HKD 14,709,000 in the previous year [39]. - The net loss for the year was HKD 40,816,000, compared to a profit of HKD 12,184,000 in 2022 [39]. - Basic and diluted loss per share for 2023 was HKD (10.51), compared to earnings of HKD 3.14 per share in 2022 [150]. - The company’s total comprehensive loss for the year was HKD (40,753,000), compared to a total comprehensive income of HKD 12,621,000 in 2022 [153]. Rental Income and Financing Costs - Rental income for the year was approximately HKD 23.4 million, a decrease of about HKD 1.2 million or 5% from HKD 24.6 million in 2022, attributed to weakened tenant demand and affordability [7]. - Financing costs increased over twofold to approximately HKD 7.6 million, up from HKD 3.4 million in 2022 [8]. - Financing costs increased to HKD 7,627,000 in 2023, up from HKD 3,400,000 in the previous year, reflecting higher borrowing costs [150]. Assets and Liabilities - The total borrowings of the group as of December 31, 2023, were approximately HKD 294.7 million, a decrease from HKD 307.9 million in 2022 [12]. - Total assets as of December 31, 2023, amounted to HKD 1,815,307,000, a decrease of 3.2% from HKD 1,875,848,000 in 2022 [40]. - Total liabilities were HKD 343,596,000, down from HKD 355,621,000 in 2022, reflecting a decrease of 3.1% [40]. - The company's equity decreased from HKD 1,520,227 thousand in 2022 to HKD 1,471,711 thousand in 2023, a decline of approximately 3.2% [158]. - As of December 31, 2023, the group had a net current liability of approximately HKD 155,942,000, slightly up from HKD 152,662,000 in 2022, indicating significant uncertainty regarding the group's ability to continue as a going concern [172]. Dividends - The board recommends a final dividend of HKD 0.012 per share, bringing the total dividend for the year to HKD 0.02 per share [37]. - The interim dividend of HKD 0.008 per share was already distributed on October 19, 2023 [37]. - The company paid dividends totaling HKD 7,405 thousand in 2023, compared to HKD 10,368 thousand in 2022 [164]. Corporate Governance - The company emphasizes its commitment to good corporate governance practices, focusing on a quality board and robust internal controls [83]. - The board consists of two executive directors and three independent non-executive directors, ensuring a majority of independent members [86]. - Independent non-executive directors account for over one-third of the board, with at least one possessing appropriate professional qualifications in accounting or related financial management [90]. - The board has adopted a diversity policy to enhance its composition, aiming to appoint at least one director of a different gender by December 31, 2024 [94]. - The company provides necessary training for newly appointed directors to ensure understanding of operations and responsibilities under relevant regulations [99]. Market Environment - The global business environment in 2023 is challenging due to geopolitical conflicts, global inflation, and high interest rates, particularly affecting economic growth in Hong Kong and mainland China [22]. - The company anticipates continued economic and real estate market slowdown in Hong Kong during the first half of 2024 due to geopolitical tensions and prolonged high interest rates [22]. - Malaysia's relaxation of visa policies for Chinese tourists and broader investment incentives are expected to boost the tourism and business investment sectors, benefiting the real estate industry [22]. - The Hong Kong government plans to relax property stamp duty requirements in Q1 2024, which has improved the atmosphere in the local real estate market [22]. Investment and Development - A joint venture agreement was established for land acquisition and development with a total capital commitment of approximately HKD 106 million [18]. - The company is actively seeking opportunities to acquire quality real estate and land reserves in Malaysia to diversify its real estate investment and development portfolio [22]. Employee and Operational Expenses - Employee expenses for the year were approximately HKD 2.6 million, an increase from HKD 2.4 million in 2022, with about 6 employees as of December 31, 2023 [20]. - Operating and administrative expenses were HKD 5,305,000 in 2023, slightly up from HKD 5,143,000 in the previous year [150]. Audit and Compliance - The financial statements for the year ending December 31, 2023, were audited by Kaiyuan Xinde Accounting Firm Limited [80]. - The audit committee has reviewed and recommended the approval of the audited consolidated financial statements for the year ending December 31, 2023 [103]. - The external auditor, KPMG, will be proposed for reappointment at the upcoming annual general meeting [104]. Risk Management - The group aims to adopt a flexible business model and prudent risk management framework to sustain long-term profitability and asset growth [117]. - The board has identified the major risks faced by the group and established a risk appetite aligned with strategic objectives [113]. - The company faces foreign exchange risks primarily related to the Renminbi, which may impact performance [10].

Financial Performance - For the year ended December 31, 2023, the company reported a revenue of HKD 23,437,000, a decrease of 4.8% compared to HKD 24,612,000 in 2022[2] - The gross profit for the year was HKD 18,241,000, down 8.6% from HKD 19,960,000 in the previous year[2] - The company incurred a net loss of HKD 40,816,000 for the year, compared to a profit of HKD 12,184,000 in 2022, representing a significant decline[4] - The company reported a comprehensive loss of HKD 40,753,000 for the year, compared to a comprehensive income of HKD 12,621,000 in 2022[5] - The financing costs increased to HKD 7,627,000, up 124.5% from HKD 3,400,000 in the prior year[2] - Interest income from bank deposits decreased to HKD 981,000 in 2023 from HKD 1,660,000 in 2022, reflecting a decline of 41.0%[28] - The total tax expense for the year was HKD 2,748,000, an increase from HKD 2,525,000 in the previous year[32] Assets and Liabilities - The total assets less current liabilities amounted to HKD 1,498,590,000, down from HKD 1,546,473,000 in 2022[7] - The company's cash and cash equivalents decreased to HKD 158,992,000 from HKD 173,781,000, reflecting a decline of 8.5%[7] - The net asset value decreased to HKD 1,471,711,000 from HKD 1,520,227,000, indicating a reduction of 3.2%[9] - Trade receivables significantly dropped to HKD 224,000 from HKD 1,525,000, a decrease of 85.3%[7] - The company's total borrowings as of December 31, 2023, were approximately HKD 294,700,000, a decrease from HKD 307,900,000 in 2022[46] - The debt-to-equity ratio was approximately 20.02% as of December 31, 2023, slightly down from 20.25% in the previous year[48] - The company has no significant contingent liabilities as of December 31, 2023, indicating a stable financial position[49] Employee and Operational Costs - The total employee costs rose to HKD 2,575,000 in 2023 from HKD 2,372,000 in 2022, an increase of 8.5%[29] - The company employed approximately 6 staff members as of December 31, 2023, with total employee expenses of about HKD 2,600,000, up from HKD 2,400,000 in 2022[53] Dividends and Shareholder Returns - The company proposed a final dividend of HKD 1.2 cents per share, maintaining the same level as the previous year, resulting in total dividends of HKD 7,763,000 for 2023[34] Market Environment and Future Outlook - The global business environment in 2023 is challenging due to geopolitical conflicts, high inflation, and interest rates, particularly affecting economic growth in Hong Kong and mainland China[54] - The Hong Kong government plans to relax property stamp duty requirements in Q1 2024, which is expected to improve the real estate market sentiment[54] - Malaysia's relaxation of visa policies for Chinese tourists and broader investment incentives are anticipated to boost the tourism and business investment sectors, benefiting the real estate industry[56] - The company is actively seeking opportunities to acquire quality real estate and land reserves in Malaysia to diversify its real estate investment and development portfolio[56] Accounting Policies and Standards - The group confirmed that the cumulative impact of accounting policy changes was not significant, thus no adjustments were made to the opening accumulated losses or other components of equity[20] - The group has not applied any new or revised Hong Kong Financial Reporting Standards that have been issued but are not yet effective, indicating no anticipated significant impact on the financial statements[21] Revenue Sources - The group's rental income from investment properties for the year 2023 was HKD 23,437,000, a decrease of 4.8% from HKD 24,612,000 in 2022[25] - Rental income decreased by approximately HKD 1,200,000 or 5% to about HKD 23,400,000 for the year ended December 31, 2023, down from HKD 24,600,000 in 2022[41] - The group reported no single external customer contributing 10% or more to total revenue for the years ended December 31, 2023, and 2022[25] Current Liabilities - The company’s current liabilities totaled HKD 316,717,000, down from HKD 329,375,000 in the previous year[7]

Financial Performance - For the six months ended June 30, 2023, the company reported revenue of HKD 11,287,000, a decrease of 4.6% compared to HKD 11,832,000 for the same period in 2022[6] - Gross profit for the same period was HKD 8,483,000, down 12.3% from HKD 9,676,000 in 2022[6] - The company recorded a net profit of HKD 2,277,000, a significant decline of 63.8% from HKD 6,304,000 in the previous year[6] - Basic and diluted earnings per share were HKD 0.59, compared to HKD 1.62 for the same period last year, reflecting a decrease of 63.4%[6] - Total revenue for the six months ended June 30, 2023, was HKD 11,287,000, a decrease of 4.6% compared to HKD 11,832,000 for the same period in 2022[21] - Rental income from leased properties was HKD 11,287,000, down from HKD 11,832,000, reflecting a decline of 4.6% year-on-year[22] - Basic earnings attributable to ordinary equity holders for the period were HKD 2,277,000, a decrease of 63.8% from HKD 6,304,000 in the previous year[30] - Profit for the six months ended June 30, 2023, decreased by approximately HKD 4,000,000 or 64% to about HKD 2,300,000, down from HKD 6,300,000 in 2022[60] Cash Flow and Assets - Operating cash inflow for the six months was HKD 17,521,000, an increase of 49.5% from HKD 11,694,000 in 2022[15] - Cash and cash equivalents at the end of the period increased to HKD 182,656,000 from HKD 173,781,000 at the beginning of the year, marking a rise of 5.0%[15] - The company’s total assets as of June 30, 2023, were HKD 1,699,139,000, slightly up from HKD 1,699,135,000 at the end of 2022[11] - The company’s total equity as of June 30, 2023, was HKD 1,517,846,000, down from HKD 1,520,227,000 at the end of 2022[11] - Trade receivables as of June 30, 2023, were HKD 114,000, significantly lower than HKD 1,525,000 as of December 31, 2022[34] - Cash and cash equivalents totaled HKD 182,656,000 as of June 30, 2023, compared to HKD 173,781,000 as of December 31, 2022, reflecting an increase of approximately 4.1%[37] - The total cash and bank balances slightly decreased to HKD 9,691,000 as of June 30, 2023, from HKD 9,792,000 as of December 31, 2022[37] Financing and Costs - Financing costs surged to HKD 3,301,000, compared to HKD 929,000 in the previous year, indicating a significant increase of 255.0%[6] - The total tax expense for the six months ended June 30, 2023, was HKD 1,018,000, compared to HKD 421,000 for the same period in 2022, representing a 142.5% increase[27] - Financing costs rose significantly to HKD 3,301,000, compared to HKD 929,000 in the same period last year, marking a 255.4% increase[25] - The company has secured bank loans amounting to HKD 147,000,000 as of June 30, 2023, unchanged from December 31, 2022, with a contract interest rate of HIBOR + 0.95%[38] - As of June 30, 2023, total borrowings amounted to approximately HKD 317,000,000, compared to HKD 307,900,000 as of December 31, 2022[66] - The debt-to-equity ratio as of June 30, 2023, was approximately 20.88%, compared to 20.25% as of December 31, 2022[67] Corporate Governance and Compliance - The company has adhered to the corporate governance code as per the Hong Kong Stock Exchange rules during the reporting period[83] - The company has adopted the standard code of conduct for securities trading by directors as per the listing rules appendix, confirming compliance by all directors as of June 30, 2023[85] - The audit committee has reviewed the accounting principles and internal controls for the six months ending June 30, 2023[82] - The interim report for the year 2023 has been published and is available on the company's website and the Hong Kong Stock Exchange website[86] Market Conditions and Future Outlook - The office rental market in Hong Kong is facing significant challenges, with the highest vacancy rate in decades and many international companies freezing or reducing operations[72] - The economic recovery in Hong Kong and mainland China is slow, and the company does not expect a positive short-term economic outlook[72] - There is a significant amount of new supply in the office rental market, which will continue to pose challenges until Chinese companies resume expansion[72] - The company plans to continue exploring market expansion opportunities and new product development to enhance future performance[6] - The company is committed to ensuring the sustainability and competitiveness of its core business while seizing investment opportunities to create value for shareholders[73] Shareholder Information - The company holds a 75% stake in its ordinary shares, with Mr. Liu Zhi Yong controlling 291,137,700 shares[75] - Major shareholders include Limitless Investment Limited and Multifield International Holdings (B.V.I.) Limited, each holding 75% of the company's issued shares[78] - The company declared an interim dividend of HKD 0.008 per share, consistent with the previous year's interim dividend[28] - The company plans to suspend share transfer registration from September 25 to September 27, 2023, with an interim dividend to be distributed on October 19, 2023[80] - The total issued and paid-up share capital remains at HKD 38,818,000 as of June 30, 2023, consistent with the previous year[41] - The 2023 share option plan allows for the issuance of up to 38,818,360 shares, representing 10% of the company's issued shares as of the report date[44] - The company has not granted any share options under the 2023 share option plan during the reporting period[44] - The company has not purchased, sold, or redeemed any of its listed securities in the past six months[81]

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。 ORIENTAL EXPLORER HOLDINGS LIMITED 東 方 興 業 控 股 有 限 公司 （於百慕達註冊成立之有限公司） （股份代號：430） 截至二零二三年六月三十日止六個月之中期業績 中期業績 東方興業控股有限公司（「本公司」）董事會（「董事會」）宣布，本公司及其附屬公司（「本 集團」）截至二零二三年六月三十日止六個月之未經審核中期業績，連同比較數字載述 如下： 簡明綜合損益表 截至二零二三年六月三十日止六個月 截至六月三十日止六個月 二零二三年 二零二二年 附註 千港元 千港元 （未經審核） （未經審核） 收入 3 11,287 11,832 銷售成本 (2,804) (2,156) ...

Financial Performance - The rental income for the year ended December 31, 2022, was approximately HKD 24,600,000, a decrease of about 7% from HKD 26,500,000 in 2021[8] - The group's profit for the year decreased by approximately HKD 6,600,000 or 35% to about HKD 12,200,000, down from HKD 18,800,000 in 2021[9] - The group's revenue for the year ended December 31, 2022, was HKD 24,612,000, a decrease of 7.2% compared to HKD 26,532,000 in 2021[39] - Gross profit for the same period was HKD 19,960,000, down from HKD 21,510,000, reflecting a gross margin of 81.1%[39] - The net profit attributable to shareholders for the year was HKD 12,184,000, a decrease of 35.5% from HKD 18,807,000 in 2021[39] - Total comprehensive income for the year ended December 31, 2022, was HKD 12,621,000, up from HKD 18,666,000 in 2021, showing a decline of about 32.3%[157] - Basic and diluted earnings per share for 2022 were HKD 3.14, down from HKD 4.84 in 2021, representing a decrease of 35.1%[146] Financing and Borrowings - Financing costs increased over six times to approximately HKD 3,400,000 from HKD 400,000 in the previous year[9] - The total borrowings of the group as of December 31, 2022, were approximately HKD 307,900,000, compared to HKD 307,400,000 in 2021[16] - The debt-to-equity ratio was approximately 20.25% as of December 31, 2022, unchanged from the previous year[17] - The company’s interest expenses rose significantly to HKD 3,199,000 in 2022 from HKD 439,000 in 2021, marking an increase of over 627%[160] Assets and Liabilities - Total assets as of December 31, 2022, amounted to HKD 1,875,848,000, a slight increase from HKD 1,872,079,000 in 2021[40] - Total liabilities increased to HKD 355,621,000 from HKD 353,604,000 in the previous year[40] - Current liabilities totaled HKD 329,375,000, a marginal increase from HKD 328,056,000 in the previous year[151] - The company reported a net asset value of HKD 1,520,227,000, compared to HKD 1,518,475,000 in 2021, indicating a slight growth[151] Dividends - The company proposed a final dividend of HKD 0.012 per share, down from HKD 0.02 per share in 2021[37] - The company paid dividends totaling HKD 10,368,000 in 2022, compared to HKD 11,646,000 in 2021, which is a decrease of approximately 11%[160] Management and Strategy - The management anticipates a cautious approach to the financial performance for 2023 due to rising financing costs and weak demand in the local office and factory unit market[23] - The management is committed to ensuring the sustainability and competitiveness of its core business while seizing investment opportunities to create value for shareholders[23] - The company continues to focus on investment holding as its primary business strategy[36] Employee and Operational Expenses - The group employed approximately 6 staff members as of December 31, 2022, with employee expenses totaling about HKD 2,400,000, down from HKD 3,200,000 in 2021[21] - Operating and administrative expenses for the year were HKD 5,143,000, a decrease from HKD 6,111,000 in 2021[39] Environmental and Regulatory Compliance - The company has implemented various policies and measures to reduce its environmental impact, supporting sustainability efforts[42] - The company has not reported any major violations of applicable laws and regulations that significantly affect its business operations during the review year[43] Corporate Governance - The company’s board of directors includes a mix of executive and independent non-executive members, ensuring governance and oversight[55] - The company has maintained compliance with the corporate governance code as per the Hong Kong Stock Exchange regulations[81] - The board consists of two executive directors and three independent non-executive directors, ensuring a balanced composition[83] - The independent non-executive director, Mr. Xu, has served for over 12 years but his independence has not been compromised according to the board's assessment[87] Audit and Financial Reporting - The audit committee reviewed the consolidated financial statements for the year ended December 31, 2022, and recommended their approval to the board[101] - The company’s external auditor, KPMG, was recommended for reappointment at the upcoming annual general meeting[101] - The independent auditor's report confirmed that the consolidated financial statements reflect a true and fair view of the group's financial position as of December 31, 2022, in accordance with Hong Kong Financial Reporting Standards[129] Shareholder Communication - The company has established multiple communication channels with shareholders, including interim and annual reports, annual general meetings, and timely responses to shareholder inquiries[127] - Shareholders holding at least 10% of the paid-up capital can request a special general meeting, which must be convened by the board within 21 days of the request[121] - Shareholders can submit inquiries to the board through the company secretary at any time, facilitating communication between shareholders and the board[122] Investment Properties - The group reported an investment property carrying value of approximately HKD 1,698,420,000 as of December 31, 2022, with a net gain of approximately HKD 1,500,000 recognized in the consolidated income statement for the year[134] - The fair value change of investment properties for 2022 was HKD 1,500,000, significantly lower than HKD 5,100,000 in 2021[146] Accounting Policies - The financial statements are prepared in accordance with Hong Kong Financial Reporting Standards, with historical cost method applied except for investment properties and equity investments measured at fair value[167] - The company has adopted revised Hong Kong Financial Reporting Standards for the first time this year, which did not have a significant impact on the financial position and performance[174] - The group calculates the fair value of investment properties and listed equity investments at the end of each reporting period, based on market participant assumptions to maximize economic benefits[178]