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]

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） 截至二零二二年十二月三十一日止年度之全年業績 綜合損益表 截至二零二二年十二月三十一日止年度 二零二二年 二零二一年 附註 千港元 千港元 收入 3 24,612 26,532 銷售成本 (4,652) (5,022) 毛利 19,960 21,510 其他收入及收益 3 1,909 1,151 於收益表處理之股權投資之公平值變動，淨額 (34) 8 外幣匯兌差額，淨額 (83) 3 投資物業之公平值變動，淨額 1,500 5,100 經營及行政開支 (5,143) (6,111) ...

Financial Performance - Revenue for the six months ended June 30, 2022, was HKD 11,832,000, a decrease of 14.0% compared to HKD 13,759,000 for the same period in 2021[11] - Gross profit for the same period was HKD 9,676,000, down 13.8% from HKD 11,228,000 in 2021[11] - Profit before tax decreased to HKD 6,725,000, representing a decline of 18.1% from HKD 8,213,000 in the previous year[11] - Net profit for the period was HKD 6,304,000, down 23.2% from HKD 8,213,000 in 2021[11] - Basic and diluted earnings per share were HKD 1.62, a decrease of 23.6% compared to HKD 2.12 in the prior year[11] - Rental income for the same period was approximately HKD 11,800,000, down by about HKD 1,900,000 or 14% from HKD 13,800,000 in the previous year, primarily due to reduced tenant demand and affordability caused by the COVID-19 pandemic[95][96] Assets and Liabilities - Total assets as of June 30, 2022, were HKD 1,875,724,000, slightly down from HKD 1,872,117,000 at the end of 2021[18] - Net asset value was HKD 1,517,015,000, a decrease from HKD 1,518,475,000 at the end of 2021[18] - Trade receivables increased to HKD 1,012,000 as of June 30, 2022, compared to HKD 602,000 as of December 31, 2021[57] - The total borrowings of the group as of June 30, 2022, were approximately HKD 311.4 million, up from HKD 307.4 million as of December 31, 2021[101] - The group's debt-to-equity ratio as of June 30, 2022, was approximately 20.53%, slightly increased from 20.25% as of December 31, 2021[101] Cash Flow - Net cash inflow from operating activities for the six months ended June 30, 2022, was HKD 11,694,000, a decrease of 88% compared to HKD 97,370,000 in the same period of 2021[24] - Total cash and cash equivalents at the end of the period were HKD 174,216,000, down 30.6% from HKD 251,100,000 at the end of June 30, 2021[24] - The company reported a net cash increase of HKD 3,139,000 for the period, a significant drop from HKD 89,984,000 in the previous year[24] - Cash and cash equivalents amounted to HKD 174,216,000, up from HKD 171,077,000 in the previous year[61] Expenses - Operating and administrative expenses decreased to HKD 2,529,000 from HKD 3,137,000, reflecting a reduction of 19.4%[11] - The total employee expenses for the period were HKD 1,180,000, a decrease of 22.1% from HKD 1,516,000 in the same period of 2021[40] Dividends - The company declared an interim dividend of HKD 0.07764 per share, consistent with the previous year[20] - The company declared an interim dividend of HKD 0.8 per share, totaling HKD 3,105,000 for the period, compared to HKD 3,882,000 for the same period last year[51] - The interim dividend will be distributed to shareholders listed on the register as of September 30, 2022, with a payment date expected around October 20, 2022[120] Government Support - The company recognized government subsidies related to COVID-19 amounting to HKD 64,000, all associated with the Hong Kong government's employment support scheme[36] Financing - Financing costs increased to HKD 929,000 from zero in the previous year, indicating the company incurred interest expenses for the first time[43] - The company has bank loans secured against investment properties valued at approximately HKD 649,000,000 as of the reporting date[67] - The company has guaranteed certain bank loans up to HKD 280,000,000 as of the reporting date[67] - As of June 30, 2022, the company provided a corporate guarantee for bank financing of up to approximately HKD 280,000,000, with approximately HKD 150,000,000 utilized[80] Corporate Governance - The company has adopted the corporate governance code as per the Hong Kong Stock Exchange listing rules and has complied with its provisions during the six-month period ending June 30, 2022[126] - The audit committee reviewed the accounting principles and practices adopted by the group and discussed the unaudited interim results for the six months ending June 30, 2022[125] - The company confirms that all directors have complied with the standards of the code for securities transactions during the six-month period ending June 30, 2022[128] Market Conditions - The group anticipates continued weakness in tenant demand and affordability over the next few months to a year, which may hinder performance improvement in the second half of 2022[108] - Rental income for the first half of 2022 decreased compared to the same period last year, indicating a weak local economy[108] Other Information - The company had no significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the six months ended June 30, 2022[97] - No significant contingent liabilities were reported as of June 30, 2022[103] - There were no major events post-June 30, 2022, that could significantly impact the group's operations and financial performance[104] - The group maintains a relatively stable financial position despite the uncertain economic outlook[108] - The company has no financial instruments for foreign currency hedging purposes as of June 30, 2022[99] - The company will closely monitor changes in the operating environment and adjust its investment strategies accordingly[108] - The company has no issued potential dilutive ordinary shares as of the reporting date[54] - The company’s total issued and fully paid ordinary shares remained at 388,183,600 shares with a par value of HKD 0.10 per share[69] - The company’s cash and bank balances earned interest at floating rates based on daily bank deposit rates[61] - The group employed 7 staff members in Hong Kong as of June 30, 2022, with employee expenses totaling approximately HKD 1.2 million, down from HKD 1.5 million in the previous year[105] - The company will suspend the transfer of shares from September 28, 2022, to September 30, 2022, to qualify for the interim dividend[120] - The interim report for 2022, containing all information required by the listing rules, is available on the company's website and the Hong Kong Stock Exchange website[129]

Financial Performance - The rental income for the year ended December 31, 2021, was approximately HKD 27,000,000, a significant increase of 80% compared to HKD 15,000,000 in 2020[11]. - The group recorded a profit of approximately HKD 19,000,000 for the year ended December 31, 2021, compared to a loss of HKD 115,000,000 in 2020, marking a substantial improvement[13]. - Revenue from continuing operations for 2021 was HKD 26,532,000, an increase from HKD 14,709,000 in 2020, representing an increase of 80.5%[44]. - Gross profit for 2021 was HKD 21,510,000, compared to HKD 12,227,000 in 2020, reflecting a growth of 76.2%[44]. - Profit from continuing operations for 2021 was HKD 18,807,000, a significant increase from HKD 5,111,000 in 2020, marking a rise of 267.5%[44]. - The company reported a net profit of HKD 18,807,000 for 2021, recovering from a loss of HKD 115,404,000 in 2020[44]. - Basic and diluted earnings per share from continuing operations were HKD 0.0484, compared to a loss of HKD 0.3613 in the previous year[151]. Financial Position - The fair value of the investment properties as of December 31, 2021, was approximately HKD 1,697,000,000, slightly up from HKD 1,692,000,000 in 2020[14]. - As of December 31, 2021, the group's cash and cash equivalents were approximately HKD 171,000,000, an increase from HKD 161,000,000 in 2020[21]. - The total borrowings of the group as of December 31, 2021, were approximately HKD 308,000,000, compared to HKD 299,000,000 in 2020[21]. - The group's debt-to-equity ratio as of December 31, 2021, was approximately 20.29%, up from 19.77% in 2020[22]. - Total assets as of December 31, 2021, were HKD 1,872,079,000, up from HKD 1,855,831,000 in 2020, indicating a growth of 0.7%[48]. - Total liabilities as of December 31, 2021, were HKD 353,604,000, compared to HKD 344,376,000 in 2020, showing an increase of 2.0%[48]. - The company reported a total equity of HKD 1,518,475,000, an increase from HKD 1,511,455,000 in the previous year[157]. Business Strategy and Outlook - The group anticipates a challenging economic outlook for 2022 due to multiple adverse factors, including ongoing local pandemic measures and geopolitical tensions, which may impact rental income from commercial and industrial properties[29]. - The group plans to maintain a prudent investment strategy to preserve financial resources for potential investment opportunities, aiming to create value for shareholders[29]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[151]. - The board will consider overall operational performance, expected working capital needs, capital expenditure requirements, and future development plans when deciding on dividend distribution[119]. Corporate Governance - The company emphasizes its commitment to good corporate governance practices, focusing on a quality board and robust internal controls[89]. - The board consists of two executive directors and three independent non-executive directors, ensuring a majority of independent members[91]. - All independent non-executive directors have confirmed their independence according to the listing rules, and the board composition is regularly reviewed[94]. - The company has adopted a board diversity policy to enhance its strategic goals and sustainable development, aiming for gender diversity by proposing at least one different-gender director by December 31, 2024[95]. - The company provides necessary training and updates to directors to ensure they understand their responsibilities and the company's operations[100]. Risk Management - The board has identified key risks, including market volatility and supply chain disruptions, and is implementing strategies to mitigate these risks[113]. - The internal audit function has been strengthened, ensuring compliance and effectiveness of risk management systems[114]. - The group will continue to monitor the impact of the ongoing COVID-19 pandemic on its financial performance and position[189]. Audit and Compliance - The independent auditor's report confirms that the consolidated financial statements reflect the group's financial position as of December 31, 2021, in accordance with Hong Kong Financial Reporting Standards[134]. - The auditor received approximately HKD 380,000 for audit services for the year ended December 31, 2021[124]. - The financial statements are prepared in accordance with the Hong Kong Financial Reporting Standards, using historical cost method except for investment properties and certain financial instruments measured at fair value[182][184]. Shareholder Information - The company has established multiple communication channels with shareholders, including interim and annual reports, annual general meetings, and timely responses to inquiries[131]. - Shareholders holding at least 10% of the paid-up capital can request a special general meeting, which must be convened within 21 days of the request[126].

Financial Performance - Revenue for the six months ended June 30, 2021, was HKD 13,836,000, a significant increase from HKD 2,569,000 in the same period of 2020, representing a growth of approximately 439%[10] - Gross profit for the same period was HKD 11,305,000, compared to HKD 2,033,000 in 2020, indicating a gross margin improvement[10] - Profit before tax from continuing operations was HKD 8,213,000, a turnaround from a loss of HKD 1,683,000 in the previous year[10] - The net profit attributable to shareholders for the period was HKD 8,213,000, compared to a loss of HKD 128,315,000 in the same period last year[10] - Basic and diluted earnings per share for the period were HKD 2.12, recovering from a loss of HKD 47.52 per share in 2020[10] - The company achieved a profit of HKD 8,213,000 for the six months ended June 30, 2021, a significant recovery from a loss of HKD 128,315,000 in the same period of the previous year[19] - The adjusted profit before tax for the six months ended June 30, 2021, was HKD 8,213,000, compared to a loss of HKD 128,315,000 in the same period of 2020[30] - The group recorded a profit of approximately HKD 8,000,000 for the period, compared to a loss of HKD 128,000,000 in the previous year, primarily due to the completion of a group restructuring plan[91] Assets and Liabilities - Total assets as of June 30, 2021, amounted to HKD 1,945,373,000, an increase from HKD 1,855,831,000 at the end of 2020[16] - Current liabilities increased to HKD 409,178,000 from HKD 320,085,000 at the end of 2020, indicating a rise in short-term obligations[16] - The net asset value was HKD 1,511,904,000, slightly up from HKD 1,511,455,000 at the end of 2020[16] - The total equity as of June 30, 2021, was HKD 1,511,904,000, an increase from HKD 1,320,991,000 as of June 30, 2020[19] - The company's total borrowings amounted to approximately HKD 389,000,000, an increase from HKD 299,000,000 as of December 31, 2020[100] - The debt-to-equity ratio as of June 30, 2021, was approximately 25.75%, compared to 19.77% as of December 31, 2020[100] Cash Flow - The company reported a net cash inflow from operating activities of HKD 97,370,000 for the six months ended June 30, 2021, compared to a net outflow of HKD 1,127,000 for the same period in 2020[22] - The company reported a significant reduction in financing cash outflow to HKD 7,398,000 for the six months ended June 30, 2021, down from HKD 48,012,000 in the previous year[22] - The cash and cash equivalents increased to HKD 251,100,000 as of June 30, 2021, from HKD 152,057,000 at the end of the previous year[22] - As of June 30, 2021, cash and cash equivalents amounted to HKD 251,100,000, an increase of 55.8% from HKD 161,116,000 as of December 31, 2020[59] Revenue Sources - Revenue from property investment for the six months ended June 30, 2021, was HKD 13,759,000, compared to HKD 2,568,000 in the same period of 2020[30] - Revenue from continuing operations for the six months ended June 30, 2021, was HKD 13,759,000, a significant increase from HKD 2,568,000 in the same period of 2020[37] - Rental income for the period was HKD 13,759,000, significantly up from HKD 2,568,000 in the previous year[78] - Rental income for the investment properties increased significantly to approximately HKD 14,000,000, up from HKD 3,000,000 in the same period last year, attributed to the expansion of the investment property portfolio[92] Shareholder Information - The company declared an interim dividend of HKD 0.01 per ordinary share, amounting to HKD 3,882,000 for the six months ended June 30, 2021[47] - As of June 30, 2021, the company's major shareholder, Mr. Liu Zhiyong, holds approximately 75% of the company's issued shares, totaling 291,137,700 shares[108] - The company will suspend share transfer registration from October 5 to October 7, 2021, for the purpose of qualifying for the interim dividend[123] - The interim dividend is scheduled to be distributed on October 21, 2021, to shareholders listed on the register as of October 7, 2021[123] 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, 2021[125] - The company has adopted the corporate governance code as per the Hong Kong Stock Exchange listing rules and has complied with its principles during the six months ending June 30, 2021[126] - All directors confirmed compliance with the standard code of conduct for securities trading as stipulated in the listing rules during the same period[130] - The mid-term report for 2021, containing all information required by the listing rules, is available on the company's website and the Hong Kong Stock Exchange website[131] Market Outlook - The company maintains a cautious outlook for the second half of 2021 due to ongoing uncertainties in the global economic recovery from the COVID-19 pandemic[105] - Rental income and occupancy rates for the company's investment properties are expected to face significant pressure in the short to medium term[105] - The company has maintained a stable financial position and sustainable debt levels throughout the pandemic[105] - The management will continue to seek and seize suitable investment opportunities to create value for shareholders[105]

Financial Performance - The company recorded a net loss of approximately HKD 115 million for the year ended December 31, 2020, compared to a profit of approximately HKD 52 million in 2019[9]. - The company reported a loss from continuing operations of HKD 91,785,000 for the year, compared to a profit of HKD 200,919,000 in the previous year[42]. - The company reported a total comprehensive loss of HKD 30,034 million for the year, compared to a comprehensive income of HKD 65,861 million in 2019[155]. - The net loss attributable to shareholders for the year was HKD 115,404 million, a decline from a profit of HKD 52,045 million in 2019[150]. - Revenue from continuing operations for 2020 was HKD 14,748 million, a significant increase from HKD 5,080 million in 2019, representing a growth of 189%[5]. - Gross profit for the year was HKD 12,266 million, compared to HKD 3,931 million in 2019, indicating a gross margin improvement[5]. Investment Properties - The value of the investment properties increased significantly to approximately HKD 1.692 billion as of December 31, 2020, from HKD 283 million in 2019[12]. - Rental income from investment properties rose by approximately HKD 10 million or 188% to about HKD 15 million in 2020, compared to HKD 5 million in 2019[12]. - The company reported a total investment property value of approximately HKD 1,691,820,000 as of December 31, 2020, with a recognized gain of about HKD 2,500,000 from fair value changes in the income statement for the year[132]. Restructuring and Shareholder Changes - The company completed a group restructuring on July 31, 2020, which involved the acquisition of all issued shares of 达润投资有限公司 for HKD 1.38 billion and the sale of Linkful Strategic Investment Limited for HKD 1.14 billion[17]. - Following the restructuring, the total number of issued shares increased from 2.7 billion to approximately 3.88 billion, with the controlling shareholder's stake rising from about 64.1% to 75%[17]. - As of December 31, 2020, the CEO and directors collectively held 2,911,377,003 shares, representing 75.00% of the company's issued share capital[70]. Financial Position - The total assets increased to HKD 1,855,831,000 from HKD 1,755,055,000 in the previous year, representing a growth of approximately 5.7%[45]. - The total liabilities increased to HKD 344,376,000 from HKD 305,749,000, indicating a rise of about 12.6%[45]. - The company’s equity attributable to shareholders was HKD 1,511,455 million, compared to HKD 1,449,306 million in 2019, showing a slight increase in shareholder equity[157]. - The group’s debt-to-equity ratio was approximately 19.77% as of December 31, 2020, slightly down from 20.11% in 2019[23]. Cash Flow and Financing - The net cash inflow from operating activities was HKD 251,685,000, compared to HKD 86,137,000 in the previous year, indicating a significant increase[163]. - The cash and cash equivalents at the end of the year decreased to HKD 161,116,000 from HKD 200,981,000, representing a decline of 19.7%[170]. - The net cash outflow from financing activities was HKD 291,872,000, compared to HKD 87,692,000 in 2019, showing a substantial increase in cash outflow[168]. Corporate Governance - The company emphasizes strong corporate governance practices, focusing on a quality board, robust internal controls, and transparency to all shareholders[84]. - The board consists of two executive directors and three independent non-executive directors, ensuring a balanced composition[86]. - All independent non-executive directors have confirmed their independence according to the listing rules, with no significant relationships among board members[88]. - The company has implemented a standard code of conduct for securities trading by directors, ensuring compliance with regulations[92]. Risk Management - The company has identified its major risks and established a risk management system to achieve strategic objectives[108]. - The board is committed to maintaining effective internal controls and risk management systems, which have been deemed sufficient and effective[111]. Audit and Compliance - The financial statements for the years ending December 31, 2018, 2019, and 2020 were audited by Guo Wei CPA Limited[81]. - The independent auditor confirmed that the consolidated financial statements reflect a true and fair view of the group's financial position as of December 31, 2020[128]. - The audit report emphasizes the importance of professional skepticism and the identification of risks of material misstatement in the financial statements[141]. Future Outlook - The group anticipates continued pressure on rental income and vacancy rates in 2021 due to the ongoing impact of the COVID-19 pandemic[27]. - The management believes that the future main business revenue will be more stable due to the completion of the group restructuring[27]. - The company will continue to focus on business expansion opportunities and maintaining a culture of quality service for its customers[113].