Financial Performance - The Group's wine business revenue decreased by 25.5% to HK$83.7 million in 2022, down from HK$112.4 million in 2021[16]. - The overall revenue of the Group fell by 85.8% to HK$369.5 million in 2022, compared to HK$2,601.7 million in 2021[19]. - The Group recorded a net loss of approximately HK$171.7 million in 2022, compared to a profit of HK$57.6 million in 2021[19]. - Loss attributable to shareholders was HK$112.5 million in 2022, down from a profit of HK$61.9 million in 2021[19]. - Basic loss per share was HK3.51 cents in 2022, compared to earnings of HK1.93 cents in 2021[19]. - The Sydney Opera Residences Project recognized revenue of approximately HK$285.8 million in 2022, significantly lower than HK$2,489.3 million in 2021[18]. - Gross profit for the year decreased by 84.4% to approximately HK$86.2 million, down from HK$551.9 million in 2021[34]. - The gross profit margin for the wine business decreased by 2.1 percentage points to 44.4% in 2022[35]. - Other revenue increased by 48% to approximately HK$22.2 million during the year, up from HK$15.0 million in 2021[41]. - Selling and distribution expenses decreased by 30.2% to approximately HK$66.1 million in 2022, down from HK$94.7 million in 2021[37]. - Administrative and other operating expenses slightly increased by 4.0% to approximately HK$85.4 million during the year[44]. - The Group recorded a loss before tax of approximately HK$141.1 million, a turnaround from a profit of HK$91.9 million in the previous year[47]. - Total cash and cash equivalents decreased by 11.5% to approximately HK$554.7 million as of December 31, 2022, down from HK$627.1 million in 2021[57]. - Total borrowings decreased by 91.8% to approximately HK$14.3 million, primarily due to the repayment of loans related to the Australia project and the wine business[58]. - Total capital expenditure for the year was approximately HK$12.2 million, significantly lower than HK$366.1 million in 2021, with a budget of HK$5.5 million for 2023[59]. - The Group reported total equity of approximately HK$1,556.3 million as of December 31, 2022, down from HK$1,809.2 million in 2021, primarily due to a loss of HK$171.7 million during the year[76]. Business Operations - The entertainment business in Jeju, South Korea, resumed operations at the end of 2022, while the Glorious Hill development project faced financing obstacles[17]. - The Group plans to stimulate high-end consumption in the red wine business post-epidemic through inventory clearance and new product introductions[16]. - An extraordinary impairment loss of approximately HK$91.4 million was recorded for the Glorious Hill resort project due to falling land prices[19]. - The Group aims to integrate wine, resorts, high-end residences, and property management to enhance the cultural tourism experience in 2023[25]. - The Group plans to adopt a diversified development orientation and industry integration to mitigate market risks in the coming year[26]. - The Group's inventories decreased by 2.6% to approximately HK$218.7 million, with finished goods turnover ratio for the wine business at 132 days[60]. - The current ratio improved to 4.4, and the gearing ratio decreased to 1.4% as a result of loan repayments[69]. - The Group's five largest suppliers accounted for 67.9% of total purchases, down from 91.9% in 2021, with the largest supplier representing 28.1% of total purchases[71]. - The five largest customers contributed 54.8% of total revenue, significantly up from 21.0% in 2021, with the largest customer accounting for 19.4% of total revenue[71]. - The Group employed a total of 353 full-time employees as of December 31, 2022, down from 365 in 2021[98]. - The Board did not recommend any dividend payment for the year, consistent with the previous year[79]. Legal and Compliance - NSR Toronto filed an amended claim against the CIM Defendants for damages amounting to CAD 50 million (approximately HK$310 million) for breach of contract and fiduciary duties[113]. - The Ontario Court dismissed the Plaintiffs' motion regarding a CAD 5 million consulting fee and stayed the action against the NSR Defendants I on April 6, 2022[122]. - The freeze motion related to the proceeds from a 2019 disposal transaction has been rescheduled to January 2024[120]. - The Directors believe it is premature to assess the potential financial impact of ongoing litigations, and no provisions have been made in the accounts for these legal claims[125]. - The company is currently in an out-of-court settlement with Global King, which may conclude at any time[126]. - The legal proceedings involving NSR Toronto have seen various developments, including a new claim initiated against NSR Toronto and its management personnel[115]. - The Group emphasizes compliance with laws and regulations to mitigate risks that could adversely affect its reputation, prospects, revenues, and earnings[165][170]. Market Conditions and Risks - The Group's operations are significantly impacted by global economic conditions, with potential disruptions from events like the COVID-19 pandemic affecting normal business activities[169][174]. - Currency fluctuations pose a risk to the Group's financial position, as revenues and expenses are incurred in various currencies while results are recorded in Hong Kong dollars[174]. - The ongoing COVID-19 pandemic continues to disrupt global economic growth, with uncertainty regarding future developments impacting the Group's ability to launch new products and maintain growth[175]. - The Group's principal risks include economic fluctuations, compliance risks, and the impact of the COVID-19 pandemic on operations and financial performance[168][171]. - The entertainment business is particularly sensitive to economic conditions in China, where unfavorable conditions could lead to reduced customer spending and negatively affect revenue[181]. - The real estate business in Sydney is highly dependent on the local property market performance, with downturns potentially adversely affecting the Group's financial conditions[186]. - The wine business in China faces challenges from macroeconomic volatility and changing consumer preferences, necessitating adjustments in business strategy[187]. - Government policies restricting extravagant consumption have negatively impacted the high-end wine market, prompting the Group to innovate and adjust its product mix[190]. - Intense competition in the wine industry, particularly from e-commerce and imported products, requires the Group to enhance brand awareness and product quality to maintain market position[192]. - Food safety risks throughout the supply chain could materially impact the business, emphasizing the need for efficient control measures[194]. - Reputation risk is critical for maintaining market position; negative reports about the brand or products can significantly impact consumer confidence and business performance[199]. Strategic Initiatives - The Group is committed to environmental conservation and has adopted an ESG policy to ensure sustainable business operations[158][163]. - The Group is exploring strategic acquisitions to enhance its portfolio, with potential targets identified that could increase overall market presence[154]. - The management emphasized the importance of operational efficiency, aiming to reduce costs by GG% through various initiatives[154]. - The company plans to enhance customer engagement strategies, which are expected to improve user retention rates by HH%[154].

Hong Kong Exchanges and Clearing Limited and The Stock 香港交易及結算所有限公司及香港聯合交 Exchange of Hong Kong Limited take no responsibility for the 易所有限公司對本公告之內容概不負責，對 contents of this announcement, make no representation as to 其準確性或完整性亦不發表任何聲明，並明 its accuracy or completeness and expressly disclaim any liability 確表示概不就因本公告全部或任何部份內 whatsoever for any loss howsoever arising from or in reliance upon 容而產生或因倚賴該等內容而引致之任何 the whole or any part of the contents of this announcement. 損失承擔任何責任。 (Incorporated in Bermuda with limite ...

Financial Performance - Revenue for the six months ended June 30, 2022, was HK$250,081,000, a significant increase of 400.1% compared to HK$50,020,000 in the same period of 2021[5]. - Gross profit for the period was HK$54,749,000, up from HK$25,080,000, reflecting a gross margin improvement[8]. - Loss attributable to owners of the Company was HK$73,318,000, compared to a loss of HK$11,793,000 in the previous year, indicating a worsening of 521.5%[5]. - Total comprehensive loss for the period was HK$210,939,000, compared to a comprehensive income of HK$12,975,000 in the same period last year[11]. - The total comprehensive income for the period was a loss of HK$6,620,000, compared to a loss of HK$73,518,000 in the prior period[24]. - The Group's gross profit increased by 118.3% to approximately HK$54.7 million, primarily due to the delivery of 8 apartments in the Australian Project, contributing HK$35.1 million in gross profit[131]. - Loss before tax increased to approximately HK$105.6 million, significantly impacted by the impairment loss of the Glorious Hill resort land in Jeju, South Korea[138]. - Loss after tax for the Period increased by 742.7% to approximately HK$123.4 million, with loss attributable to owners of the Company rising to approximately HK$73.3 million[145]. Assets and Liabilities - Current assets decreased to HK$1,206,981,000 as of June 30, 2022, from HK$1,539,497,000 at the end of 2021, a decline of 21.6%[14]. - Total equity decreased to HK$1,930,663,000 as of June 30, 2022, down from HK$2,141,602,000 at the end of 2021, a reduction of 9.8%[16]. - The Group's total assets decreased from HK$2,766,840,000 as of December 31, 2021, to HK$2,267,390,000 as of June 30, 2022, representing a decline of approximately 18%[70]. - Total liabilities also decreased significantly from HK$625,238,000 to HK$336,727,000, a reduction of about 46%[70]. - Cash and cash equivalents were HK$541,098,000 as of June 30, 2022, compared to HK$627,060,000 at the end of 2021, a decrease of 13.7%[14]. - The company reported a net decrease in cash and cash equivalents of HK$68,365,000 for the period, compared to a decrease of HK$49,796,000 in the previous year[32]. - Total borrowings decreased by 57.2% to approximately HK$74.4 million, following the repayment of loans from a non-controlling shareholder[147]. - Current ratio increased to 6.0 as of June 30, 2022, compared to 3.2 on December 31, 2021[158]. - Debt ratio decreased to 3.9% as of June 30, 2022, down from 8.1% on December 31, 2021[158]. Revenue Breakdown - Revenue from the sale of completed properties was HK$202,361,000, while revenue from the production and distribution of wine was HK$47,720,000[51]. - Revenue from external customers for the six months ended June 30, 2022, was HK$250,081,000, compared to HK$50,020,000 for the same period in 2021, indicating a substantial increase of 400%[75]. - Revenue from Australia reached HK$202,361,000 in the first half of 2022, with no revenue reported in the same period of 2021, marking a significant new market entry[75]. - Revenue from the wine business decreased by 4.6% to HK$47.7 million, down from HK$50.0 million for the same period in 2021[127]. - The Group's revenue from the PRC (including Hong Kong) was HK$47,720,000 for the first half of 2022, down from HK$50,020,000 in 2021, a decrease of approximately 5%[75]. Expenses and Costs - The Company reported selling and distribution expenses of HK$31,387,000, which increased from HK$18,293,000 in the previous year, reflecting a rise of 72.0%[8]. - Administrative and other operating expenses rose to HK$33,774,000 from HK$25,467,000, an increase of 32.6% year-over-year[8]. - Staff costs, including directors' emoluments, totaled HK$17,493,000 for the first half of 2022, slightly up from HK$17,190,000 in 2021, showing a marginal increase of about 2%[81]. - Selling and distribution expenses rose by 71.6% to approximately HK$31.4 million, primarily due to commissions related to the delivered apartments in the Australian Project[136]. - Gross profit from the wine business decreased by 27.8% to approximately HK$19.6 million, with a gross profit margin of 41.1%, attributed to reduced dining activity in Mainland China due to strict COVID measures[131]. Impairment and Losses - The impairment loss of property, plant, and equipment amounted to HK$103,638,000, which was not present in the previous year[8]. - The loss from operating activities included an impairment loss of property, plant, and equipment amounting to HK$103,638,000 for the first half of 2022[81]. - An impairment loss of property, plant, and equipment of approximately HK$103.6 million was incurred during the period, compared to no impairment loss in the same period of 2021[92]. Employment and Operations - As of June 30, 2022, the Group employed 321 full-time employees, down from 365 on December 31, 2021[170]. - The company has three reportable segments: (i) development and operation of real estate, integrated resort and cultural tourism; (ii) production and distribution of wine; and (iii) entertainment business[50]. - The Group's operations include integrated resort and cultural tourism development in South Korea, real estate development in Australia, wine production and distribution in the PRC, and entertainment business operations in South Korea[126]. Legal Proceedings - NSR Toronto filed an amended claim on February 25, 2020, against CIM Defendants for damages amounting to CAD 50 million (approximately HK$310 million) due to breach of contract and misrepresentation[181]. - The ongoing legal proceedings may impact the company's financial position and strategic decisions moving forward[181]. - The Ontario Superior Court dismissed the Plaintiffs' motion regarding a CAD 5 million consulting fee and stayed the action against NSR Defendants I[200].

Financial Performance - Total revenue for the group surged by 2,113.3% to HKD 2,601.7 million in 2021, up from HKD 117.6 million in 2020, resulting in a profit of approximately HKD 57.6 million, compared to a loss of HKD 114.3 million in the previous year[11] - The successful delivery of the Sydney Opera House project contributed approximately HKD 2,489.3 million in revenue and HKD 499.6 million in gross profit for the year[10] - The group aims to promote revenue generation and assess the feasibility of restructuring its existing business framework to adapt to market changes[9] - Revenue surged 2,113.3% to approximately HKD 2,601.7 million, primarily due to the delivery of residential units in the Sydney Opera House project[16] - 89 residential units were delivered to owners in 2021, generating sales revenue of approximately HKD 2,489.3 million[17] - Gross profit increased 1,772.0% to approximately HKD 551.9 million, mainly from the Sydney Opera House project, contributing about HKD 499.6 million in profit[18] - The company recorded a pre-tax profit of approximately HKD 91.9 million, reversing a loss of HKD 122.1 million in the previous year[24] Assets and Liabilities - As of December 31, 2021, the group's total assets and net assets were HKD 2,766.8 million and HKD 2,141.6 million, respectively[11] - The current ratio improved to 3.2, while the debt ratio decreased to 8.1% due to the repayment of most borrowings[32] - Cash and cash equivalents increased by 193.8% to approximately HKD 627.1 million, while total borrowings decreased by 90.8% to approximately HKD 173.8 million[27] - The group has approximately HKD 620 million in cash and over HKD 540 million in sustainable residential and commercial properties remaining after repaying approximately HKD 1.7 billion in Australian project development loans[10] Business Strategy and Outlook - The group anticipates continued growth in the wine business and expects overseas real estate and cultural tourism industries to return to normal operations in 2022[11] - The group plans to maintain a focus on innovation, financial stability, and diversified development to enhance product and service offerings in 2022[12] - The group will prudently adjust its South Korean business strategy in response to ongoing pandemic challenges[10] Legal Proceedings - Legal proceedings involving NSR Toronto Holdings Ltd. include claims for damages amounting to CAD 50 million (approximately HKD 290 million) related to breach of contract and fiduciary duties[47] - A separate claim against NSR Toronto and its executives seeks punitive damages totaling CAD 8 million (approximately HKD 47.7 million) for alleged contract violations[49] - The court has yet to rule on certain motions related to the ongoing legal proceedings, with appeals expected to be heard in May 2022[50] - Global King Inc. is facing a claim of CAD 7.2 million for obstructing the disposal of the Mackenzie Creek project, along with CAD 0.1 million in punitive damages[51] - The board believes it is too early to assess the potential financial impact of the ongoing litigation, and no provisions have been made for the revised counterclaims or the amended 2020 claims[52] Risk Management - The company faces risks related to global economic fluctuations, which could adversely affect its financial condition and operational performance[74] - Currency exchange rate fluctuations pose a potential risk, as the company operates in multiple countries with different currencies, impacting financial results[75] - The company is committed to monitoring potential risks related to exchange rates and interest rates, implementing appropriate foreign exchange hedging policies when necessary[75] - The ongoing COVID-19 pandemic continues to disrupt global economic growth, with significant negative impacts on various industries since 2020[76] - The uncertainty surrounding the duration and severity of COVID-19 makes it difficult for the company to guarantee timely product launches or sustained growth and profitability[77] Corporate Governance - The company has complied with all applicable provisions of the Corporate Governance Code as per Appendix 14 of the Listing Rules, except for a deviation from rule A.2.1, where the Chairman also serves as the CEO[137] - The board consists of four executive directors and three independent non-executive directors, ensuring a balance of power and effective decision-making[147] - The company has established a written guideline for employees regarding securities trading, which is as strict as the standard code[140] - The company has established three committees: Nomination Committee, Remuneration Committee, and Audit Committee to oversee specific areas of the company's affairs[172] - The company has implemented a nomination policy since December 2018, detailing the procedures and criteria for identifying and recommending candidates for the board[155] Employee and Shareholder Information - The group employed 365 full-time employees as of December 31, 2021, down from 381 in the previous year[43] - The company expresses gratitude to shareholders, business partners, and employees for their support and hard work[13] - As of December 31, 2021, the major shareholder, Xin Hua Lian International Land Co., Ltd., holds 1,757,450,743 shares, representing approximately 54.79% of the issued share capital[112] Environmental and Social Responsibility - The company has adopted environmental, social, and governance (ESG) policies to achieve sustainable business operations and minimize environmental impact[70] - The company emphasizes compliance with applicable laws and regulations, ensuring no significant impacts from non-compliance were reported during the year[71]

| --- | --- | --- | --- | |---------------------------------------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | New Silkroad Culturaltainment Limited | | | | 目 錄 | --- | --- | --- | |----------------------------------------------------------|-----------------------------------------------------|--------------------------| | | | | | 簡明綜合 損益表 簡明綜合權益 變動表 20 管理層討論 及分析 | 簡明綜合 財務狀況表 簡明綜合 現金流量表 29 其他資料 | 8 簡明中期 財務報表 附註 | 中期報告2021 截至六月三十日止六個月 二零二一年 二零二零年 簡明綜合損益表 新絲路文旅有限公司(「本公司」)董事(「董事」)會(「董事會」 ...

New Silkroad Culturaltainment Limited 新絲路文旅有限公司 (於百慕逵註冊成立之有限公司) （2017年） 目錄 OPERARESIDEN | --- | --- | --- | --- | |-------|--------------------------|-------|--------------------------| | | | | | | 02 | 公司資料 | 80 | 綜合損益表 | | 03 | 主席報告 | 81 | 綜合損益及其他全面收益表 | | 05 | 管理層討論及分析 | 82 | 綜合財務狀況表 | | 12 | 董事及高級管理層履歷簡介 | 84 | 綜合權益變動表 | | 14 | 董事會報告 | 85 | 綜合現金流量表 | | 24 | 企業管治報告 | 87 | 綜合財務報表附註 | | 43 | 環境、社會及管治報告 | 171 | 五年財務摘要 | | 74 | 獨立核數師報告 | 172 | 物業組合 | 公司資料 2 | --- | --- | |------------------------------------ ...

New Silkroad Culturaltainment Limited 新絲路文旅有限公司 (於百慕進註冊成立之有限公司) (股份編號 : 472) 截至二零二零年一月一日至六月三十日止期間 2020 中期 報告 | --- | --- | --- | |-------|------------------------|------------------------------------| | | 目 錄 | 02 簡明綜合 損益表 | | | 02 簡明綜合 財務狀況表 | 04 簡明綜合 損益及 其他全面 收益表 | | | 07 簡明綜合 樓益變動表 | 08 簡明綜合 | | | | 現金流量表 | | | 25 管理層 討論及分析 | 09 簡明中期 財務報表 附註 | | | 32 業務回顧 及展望 | 34 其他資料 | 中 期 報 告 2 0 2 0 截至六月三十日止六個月 二零一九年 二零二零年 (未經審核) (未經審核) 附註 千港元 千港元 簡 明 綜 合 損 益 表 新絲路文旅有限公司(「本公司」)董事(「董事」)會(「董事會」)欣然公佈本公司及其附屬公 司(統稱「本集團」)截 ...

New Silkroad Culturaltainment Limited 新絲路文旅有限公司 315 the state of the state Uni av 上 ller 0 a Artistics and the first SHEN 1177 载 2 公司資料 81 綜合損益及其他全面收益表 3 主席報告 82 綜合財務狀況表 6 管理層討論及分析 84 綜合權益變動表 13 董事及高級管理層履歷簡介 86 綜合現金流量表 15 董事會報告 88 綜合財務報表附註 27 企業管治報告 47 環境、社會及管治報告 73 獨立核數師報告 79 綜合損益表 187 五年財務摘要 188 物業組合 公司資料 | --- | --- | |-----------------------------------------------|--------------------------------------| | 董事會 | 主要往來銀行 | | 執行董事： | 香港上海滙豐銀行有限公司 | | 馬晨山先生（主席） | 中信銀行（國際）有限公司 | | （於二零一九年十二月三十日獲委任） 吳光曙先生 | 中 ...

| --- | --- | |-------------------------------------------------------------------------------------------------------------------------------------------------|-------| | | | | New Silkroad Culturaltainment Limited 新絲路文旅有限公司 (於百慕建註冊成立之有限公司) (股份編號 : 472) 截至二零一九年一月一日至六月三十日止期間 | | | 1日 H 用 e III 司 | | | 期 報 中 告 | | 目 錄 02 簡明綜合 損益表 04 05 簡明綜合 損益及 簡明綜合 其他全面 財務狀況表 收益表 08 07 簡明綜合 簡明綜合 現金流量表 键益變動表 09 29 簡明中期 管理層 財務報表 討論及分析 附註 35 38 業務回顧 其他資料 及展望 中 期 報 告 2 0 1 9 簡 明 綜 合 損 益 表 新絲路文旅有限公司(「本公司」)董事(「董事」)會(「董事會」)欣然公佈本公司 ...

New Silkroad Culturaltainment Limited 新絲路文旅有限公司 | --- | --- | --- | --- | |-------|----------------------------|-----------------------|---------------------------------| | | | | (於百慕建註冊成立之有限公司) \n | | | | | | | | 200 | | | | | 100 0 8-07-05 000 000 LOOD | 2018-07-07 8 2017-10 | | | | 報告 2018 | 1 R | | 目 錄 STITUTE 7 e 1518 03 主席報告 06 財務摘要 10 管理層討論及分析 18 86 綜合財務狀況表 85 綜合損益及 其他全面收益表 92 綜合財務報表附註 181 84 綜合損益表 77 獨立核數師報告 董事會報告 36 企業管治報告 54 環境、社會及管治報告 88 綜合權益變動表 90 綜合現金流量表 五年財務摘要 182 物業組合 02 公司資料 16 董事及高級管理層 履歷簡介 ...