(於百慕達註冊成立之有限公司) 股份代號 : 495 截至二零二三年 2023 中期報告 十二月三十一日止六個月 Interim Report For the six months ended 31 December 2023 2023 INTERIM REPORT 中期報告 (incorporated in Bermuda with limited liability) Stock Code : 495 2023 公司資料 董 事 執行董事： 翁世華 （主席） 非執行董事： 陳智豪 阮志華 獨立非執行董事： 歐植林 廖文健 羅榮選 公司秘書 陳智豪 核數師 羅申美會計師事務所 執業會計師 註冊公眾利益實體核數師 主要往來銀行 中 信 銀 行（國 際）有 限 公 司 中 國 工 商 銀 行（亞 洲）有 限 公 司 律 師 David Norman & Co. 主要股份過戶登記處 Estera Management （Bermuda） Limited Victoria Place, 5th Floor 31 Victoria Street Hamilton HM10 Bermuda 香港股份過戶登記處 香港中央 ...

Financial Performance - For the six months ended December 31, 2023, the company reported revenue of HKD 10,324,000, an increase of 29.6% compared to HKD 7,954,000 for the same period in 2022[3] - The gross profit for the same period was HKD 5,698,000, representing a gross margin of 55.2%, up from HKD 4,329,000 in 2022[3] - The operating loss decreased to HKD 12,860,000 from HKD 18,206,000 year-over-year, indicating a 29.5% improvement[3] - The company incurred a loss before tax of HKD 15,638,000, which is a 22.5% reduction from HKD 20,051,000 in the previous year[3] - Total comprehensive loss for the period was HKD 17,087,000, compared to HKD 20,472,000 in the same period last year, reflecting a 16.5% improvement[5] - The basic loss per share for the period was HKD 0.96, compared to HKD 1.24 in the previous year, showing an improvement[5] - The company reported a pre-tax consolidated loss of HKD 15,638,000 for the period, compared to a loss of HKD 20,051,000 in the prior year, reflecting a 21.5% improvement[24] - Basic and diluted loss per share for the six months ended December 31, 2023, was HKD 0.0096, compared to HKD 0.0124 for the same period in 2022[33] Revenue Segmentation - For the six months ended December 31, 2023, total revenue from external customers was HKD 10,324,000, an increase of 29.8% compared to HKD 7,954,000 for the same period in 2022[20] - The property investment segment generated revenue of HKD 4,341,000, up from HKD 3,690,000, representing a growth of 17.6% year-over-year[25] - The R&D segment reported revenue of HKD 5,983,000, an increase of 40.3% from HKD 4,264,000 in the previous year[20] - Sales for the six months ended December 31, 2023, totaled approximately HKD 5,100,000[48] Financial Position - The company's net current liabilities amounted to HKD 83,424,000 as of December 31, 2023, indicating a significant liquidity concern[12] - Non-current assets totaled HKD 768,057,000, with investment properties valued at HKD 518,000,000[7] - As of December 31, 2023, the group's net current liabilities were approximately HKD 83 million, with a current ratio of 0.31 and cash reserves of about HKD 27 million[61] - The group's outstanding liabilities totaled approximately HKD 142 million, including trade and other payables of about HKD 17 million and bank loans of approximately HKD 80 million[61] - The group's bank borrowings are secured against leasehold land and buildings valued at approximately HKD 176 million[62] - The company's capital debt ratio is approximately 17.71%[63] Strategic Plans - The company plans to implement strategies to enhance revenue and profitability, including cost control measures[13] - The group has invested approximately HKD 160,000,000 in collaboration with the Finnish National Technology Innovation Agency and plans to make significant investments in the coming years[45] - The technology department aims to generate USD 33,000,000 in revenue by 2027[45] Operational Developments - The portable X-ray devices for security and non-destructive testing applications have seen increased sales, with non-destructive testing products currently outselling security products[50] - The first base station of the IPESSA series was delivered in December 2023, enhancing positioning capabilities for autonomous vehicles[52] - IPESSA Nano is a compact positioning module suitable for drones and compact AGVs, with hardware and mechanical prototypes launched at the end of 2021, but software development has been delayed due to resource constraints[53] - Dynim Oy is focusing on developing a series of camera products that seamlessly integrate with the IPESSA positioning solutions, with a 2024 product development roadmap centered around the RTK Vins series[54] - The IPESSA Yaw Bar, a high-end positioning device for maritime applications, is expected to complete prototype design in the first half of 2024, with customer trials starting by the end of 2024[55] - The RTK Vins AI solution includes a robust industrial camera and powerful AI processor, designed for precise positioning and edge AI applications, suitable for drones and heavy machinery[56] Challenges and Governance - Imagica Technology Inc. has faced significant challenges in profitability due to design and production delays over the past three years, necessitating a comprehensive evaluation of its financial stability and market demand[57] - The company did not declare or propose any dividends for the six months ended December 31, 2023, consistent with the previous year[32] - The board of directors recommended not to declare any interim dividend for the six months ended December 31, 2023[68] - The company and its subsidiaries did not purchase, sell, or redeem any listed shares during the six months ended December 31, 2023[70] - The audit committee reviewed the accounting principles and practices used by the company, but there were no audited interim results for the six months ended December 31, 2023[71] - The company has adhered to corporate governance principles, with some exceptions regarding attendance at the annual general meeting[72] - The interim results announcement can be accessed on the stock exchange and the company's website[73] Employee and Contingent Liabilities - The total number of employees as of December 31, 2023, is 49, with compensation determined based on market conditions[66] - There are no significant contingent liabilities as of December 31, 2023[67] - The company has received agreement from a major shareholder to defer repayment of HKD 13,799,000 until the financial situation allows[12]

Financial Performance - The company reported a loss of approximately HKD 42 million for the year ended June 30, 2023, compared to a loss of HKD 89 million in the same period of 2022, indicating a significant reduction in losses [8]. - Revenue for the year was approximately HKD 7 million, down from HKD 9 million in 2022, reflecting a decrease in rental income from investment properties [9]. - The total sales for the year amounted to approximately HKD 10 million [13]. - For the fiscal year ending June 30, 2023, the total greenhouse gas emissions amounted to 160 tons, an increase from 101 tons in the previous year, resulting in a per employee emission of 2.39 tons compared to 1.44 tons [91]. - Total revenue for the year ended June 30, 2023, was HKD 18,386,000, a decrease of 36.2% from HKD 28,783,000 in 2022 [196]. - Gross profit for the same period was HKD 10,093,000, down from HKD 10,906,000, reflecting a decline of 7.4% [196]. - Operating loss narrowed to HKD 37,567,000 from HKD 87,230,000, indicating a significant improvement in operational efficiency [196]. - The net loss for the year was HKD 41,764,000, compared to HKD 89,466,000 in the previous year, representing a reduction of 53.3% [196]. - The company's equity attributable to owners decreased to HKD 710,932,000 from HKD 749,077,000, a decline of 5.1% [200]. - Basic loss per share improved to HKD 2.66 from HKD 5.84, reflecting a 54.4% reduction in loss per share [196]. Investment and Technology - The company has invested approximately HKD 160 million in next-generation technology applications, with expectations of generating USD 33 million in revenue from its technology department by 2027 [11]. - The technology department consists of 37 R&D engineers across five operational sites in four countries [11]. - The company has launched various improvements to its portable X-ray detection devices aimed at security and industrial applications, with sales expected to increase in the fiscal years 2023 to 2024 [15]. - The company is developing advanced positioning and imaging sensor technologies, with several products expected to enter mass production in 2024 [17]. - Dynim Oy is developing high-end sensors and AI software for industrial applications, with a focus on robust stereo cameras for heavy machinery [18]. - Imagica Technology Inc. has developed linear image sensors for spectroscopy and document scanners, utilizing advanced 3D semiconductor processes [18]. - The company is currently evaluating whether to invest additional capital due to significant challenges in achieving profitability over the past three years [20]. Governance and Management - The board of directors consists of one executive director, two non-executive directors, and three independent non-executive directors, ensuring a diverse range of expertise in management, property market, electronics, accounting, finance, and corporate development [40]. - The board held four meetings and one annual general meeting during the year ending June 30, 2023, with attendance details provided for each director [43]. - The nomination committee has been established to review the board's structure and composition, ensuring a diverse skill set among members [47]. - The company has adopted a nomination policy to enhance board diversity and governance standards, considering factors such as gender, age, cultural background, and professional experience [53]. - The remuneration committee, consisting of three independent non-executive directors and one executive director, is responsible for proposing the remuneration policy for all directors and senior management [54]. - The company has made appropriate insurance arrangements for legal actions that directors and senior officers may face [48]. - The chairman and CEO roles are separated, with the current chairman temporarily acting as CEO until a new appointment is made [46]. - The board is responsible for setting the group's strategic direction and policies, as well as overseeing management [40]. - Independent non-executive directors are selected based on required skills and experience to ensure strong independent judgment within the board [43]. - The company will regularly review its governance practices to ensure effective corporate governance is maintained [46]. - The audit committee held two meetings during the year ended June 30, 2023, with attendance as follows: Chairman 廖文健 attended 2/2, 陳智豪 attended 2/2, 歐植林 attended 1/2, and 羅榮選 attended 0/2 [58][59]. - The external auditor, 罗申美会计师事务所, charged a total of HKD 864,000 for audit and non-audit services, with HKD 610,000 for audit services and HKD 254,000 for non-audit services [69]. - The company’s board of directors has adopted a dividend policy to consider and declare interim and final dividends semi-annually, subject to various factors including available reserves and operational needs [61]. - The company emphasizes the importance of a robust internal control system to achieve business objectives and ensure compliance with laws and regulations [70]. - The internal control procedures include a comprehensive budgeting and performance monitoring system, with management responsible for identifying and reporting significant business risks [71]. - The audit committee is responsible for reviewing the company's financial information, including annual and interim reports, and ensuring the independence of the external auditor [56][58]. - The company has implemented training programs for directors to enhance their understanding of corporate governance and their responsibilities [64][65]. - The board of directors acknowledges its responsibility for the effectiveness of the internal control system and has engaged independent consultants to review it [71]. Environmental Impact - The company has established an environmental policy addressing significant environmental issues, ensuring compliance with relevant environmental laws and regulations, with no major non-compliance incidents reported during the reporting period [86]. - Total gasoline consumption decreased from 7,257 liters in 2022 to 6,777 liters in 2023, representing a reduction of approximately 6.6% [98]. - Purchased electricity consumption increased significantly from 153,866 kWh in 2022 to 245,043 kWh in 2023, marking an increase of about 59.3% [98]. - Employee density for gasoline consumption improved from 104 liters per employee in 2022 to 101 liters per employee in 2023 [98]. - Employee density for purchased electricity rose from 2,198 kWh per employee in 2022 to 3,657 kWh per employee in 2023, indicating a 66.5% increase [98]. - The company maintained a low level of hazardous waste emissions due to the nature of its business operations, with no significant data disclosed [94]. - The company has implemented various energy-saving measures to reduce emissions, including the use of energy-efficient lighting and recycling initiatives [101]. - No significant environmental impact was reported during the reporting period, and the company is committed to complying with relevant environmental laws and regulations [103]. - The company plans to maintain the same levels of energy and water consumption through the fiscal year ending June 30, 2024 [101]. Employee and Labor Relations - The total number of employees as of June 30, 2023, was 67, with compensation determined based on market conditions [27]. - The employee turnover rate for males was 22%, while for females it was 0% [110]. - The overall employee count was 67, with 54 males and 13 females, indicating a gender ratio of approximately 81% male to 19% female [108]. - During the reporting period, 31% of male and 31% of female employees received training, with senior management receiving an average of 1 hour and regular employees receiving 3 hours of training [114]. - The company did not receive any tenant complaints during the reporting period [121]. - The company has not identified any serious violations of labor standards or regulations during the reporting period [116]. - The company emphasizes the importance of maintaining high quality and standards for sustainable development, ensuring compliance with health, safety, and privacy regulations [122]. - The company has a zero-tolerance policy for misconduct and has not received any reports of corruption-related risks during the reporting period [126]. - The company is committed to community investment and encourages employees to participate in local community projects [127]. Risks and Challenges - The company anticipates challenges due to ongoing geopolitical tensions and economic uncertainties, impacting its future outlook [11]. - The company faces significant business risks related to the performance of the Hong Kong property market, which could adversely affect its financial condition and operations [132]. - The company has made significant investments in high-tech products, but the success of its R&D efforts is uncertain due to rapid technological changes in the market [132]. - The company regularly evaluates existing suppliers to mitigate supply chain risks and ensures the quality of services and products provided [118]. Shareholder Information - For the fiscal year ending June 30, 2023, the company's distributable reserves amounted to HKD 202,463,000 [144]. - The largest customer accounted for 40% of total revenue, while the top five customers represented 76% of total revenue for the same period [146]. - The largest supplier contributed 35% to the total cost of sales, and the top five suppliers accounted for 48% of total cost of sales [146]. - The company’s directors collectively held 55,497,189 shares, representing 3.96% of total equity [150]. - Major shareholder Basurto Holdings Limited held 508,848,531 shares, accounting for 36.31% of total equity [153]. - Gold Seal Holdings Limited, another major shareholder, held 537,993,892 shares, representing 38.39% of total equity [153]. - The company reported no significant disputes with employees or customers during the fiscal year [139]. - The company has complied with all relevant laws and regulations without any major violations during the review period [138]. - The company’s board of directors includes both executive and independent non-executive members, ensuring governance and oversight [147]. Corporate Actions - The company has not disclosed any new product developments or market expansion strategies in the provided documents [145]. - The company adopted a share option plan on December 8, 2015, to reward selected participants contributing to the group [156]. - A total of 397,721,900 share options were granted to certain employees and directors between May 30, 2016, and November 9, 2018 [156]. - As of June 30, 2023, the number of unexercised options held by directors includes 13,676,400 options at an exercise price of HKD 0.321, granted in 2016 [156]. - The company did not engage in any arrangements that would allow directors or senior executives to benefit from purchasing shares or bonds of the company or any other entity during the year [159]. - The net proceeds from the public offering conducted in December 2017 amounted to approximately HKD 63,200,000, which has been fully utilized by June 30, 2023 [169]. - There were no purchases, sales, or redemptions of the company's listed shares by the company or its subsidiaries for the year ending June 30, 2023 [168]. - The company has not entered into any management or administrative contracts concerning any significant part of its business during the year [162]. - The company has not established or maintained any share-linked agreements during the year, aside from its convertible bonds and share option plan [164]. - The company has provided indemnification rights to its directors and senior officers for losses or liabilities incurred while performing their duties [163]. - The company has not disclosed any significant interests held by directors in major contracts with the company or its subsidiaries during the year [160]. - As of June 30, 2023, the group incurred a loss of approximately HKD 41,764,000, with net current liabilities of about HKD 69,334,000, raising significant doubts about the group's ability to continue as a going concern [181]. - The fair value of the group's investment properties was estimated at approximately HKD 518,000,000, with a fair value loss of about HKD 9,400,000 recognized in the income statement for the year ended June 30, 2023 [184].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公佈全部或任何 部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 PALADIN LIMITED （於百慕達註冊成立之有限公司） 495 （股份代號 ： ） 業績公佈 截至二零二三年六月三十日止年度 Paladin Limited （「本公司」）之董事會（「董事會」）欣然宣佈本公司及其附屬公司（下文 統稱「本集團」）截至二零二三年六月三十日止年度之經審核綜合業績，連同上一年 度之比較數字如下： 綜合損益及其他全面收益表 截至二零二三年六月三十日止年度 二零二三年 二零二二年 附註 千港元 千港元 3 18,386 28,783 收益 (8,293) (17,877) 銷售及服務成本 10,093 10,906 毛利 5 404 444 其他收入 6 4,782 (31,808) ...

Financial Performance - The company recorded a loss of approximately HKD 89 million in 2022, compared to a loss of HKD 53 million in 2021, primarily due to a fair value loss of HKD 35 million on investment properties[26]. - Revenue for the year ended June 30, 2022, was approximately HKD 9 million, an increase from HKD 8 million in 2021[27]. - The technology department generated revenue of approximately HKD 20 million during the year, but did not meet expectations due to adverse impacts from COVID-19 and semiconductor shortages[29]. - Sales from Pexray Oy, which focuses on security and non-destructive testing applications, amounted to approximately HKD 19 million for the year[30]. - The group's total outstanding liabilities were approximately HKD 162 million, including trade and other payables of about HKD 13 million and secured bank borrowings of approximately HKD 83 million[44]. - The group's current liabilities net amount was approximately HKD 48 million, with a current ratio of 0.67 and cash reserves of approximately HKD 87 million[44]. - The capital debt ratio was approximately 18.36%, calculated as total liabilities divided by total assets[46]. - The group's largest customer accounted for 46% of total revenue, while the top five customers contributed 89% of total revenue for the year ended June 30, 2022[172]. - The group's investment properties experienced fair value losses due to the downturn in the Hong Kong real estate market, which could adversely affect financial conditions and operational performance[157]. - As of June 30, 2022, the company's distributable reserves amounted to HKD 221,701,000[170]. Corporate Governance - The company adhered to all corporate governance codes as per the Hong Kong Stock Exchange's listing rules for the fiscal year ending June 30, 2022, with some deviations disclosed[60]. - The board consists of one executive director, two non-executive directors, and three independent non-executive directors, ensuring a diverse range of expertise[63]. - The company has established a nomination committee to review the board's structure and recommend suitable candidates for directorship[74]. - The company does not see the need for a formal diversity policy for board members, focusing instead on the skills and experience of candidates[75]. - The chairman and CEO roles are separated, with the current chairman also temporarily acting as CEO[69]. - The independent non-executive directors confirmed their independence in accordance with the listing rules[66]. - The board is responsible for setting the strategic direction and policies of the group, overseeing management, and approving significant transactions[63]. - The board has adopted a nomination policy to enhance diversity and governance standards within the board[76]. - The audit committee held two meetings during the year, reviewing the annual report and interim report for the respective periods[83]. - The audit committee consists of one non-executive director and three independent non-executive directors, regularly reviewing the effectiveness of internal control systems[199]. Internal Control and Risk Management - The company emphasizes the importance of a robust internal control system to achieve business objectives and ensure compliance with laws and regulations[93]. - The group has established a comprehensive internal control system, including a budget, information reporting, and performance monitoring procedures[94]. - The management team is responsible for preparing the annual business plan and budget, which must be reviewed and approved by the executive directors[94]. - The board acknowledges its responsibility for the internal control system and has engaged independent consultants to review its effectiveness[94]. - The independent consultant's report has been submitted to the audit committee and board for review, with recommendations for strengthening the internal control system adopted[94]. Environmental, Social, and Governance (ESG) Issues - The group has identified significant environmental, social, and governance (ESG) issues relevant to its operations and stakeholders[101]. - The group has established an environmental policy addressing major environmental issues, including emissions and resource usage[110]. - Nitrogen oxides (NOX) emissions decreased from 6.2 kg in 2021 to 4.3 kg in 2022, a reduction of approximately 30.6%[113]. - Total greenhouse gas emissions calculated in CO2 equivalent decreased from 128 tons in 2021 to 101 tons in 2022, a reduction of about 21.1%[115]. - Gasoline consumption decreased from 10,411 liters in 2021 to 7,257 liters in 2022, a reduction of approximately 30.3%[122]. - The company has implemented green office initiatives to reduce environmental impact, including encouraging remote meetings[117]. - The company has established policies to minimize waste and promote recycling, maintaining low levels of harmless waste[121]. - The company recognizes the importance of managing climate change impacts and has begun assessing climate-related risks[128]. Employee and Community Engagement - The group has a total of 70 employees, with 58 males and 12 females, and 69 full-time and 1 part-time/contract employee[132]. - Employee training participation rates are 34% for males and 25% for females, with senior management at 34% and general staff at 32%[138]. - The group has maintained a safe working environment with no reported work-related safety incidents over the past three years[135]. - The group actively encourages employee participation in local community projects as part of its corporate responsibility[151]. Shareholder Information - The company reported a total of 1,176,614,613 shares outstanding, with major shareholders holding 83.96% of the total equity[179]. - Basurto Holdings Limited, Cityguard Holdings Limited, and Five Star Investments Limited each hold 36.31% of the company's shares, totaling 508,848,531 shares[179]. - Gold Seal Holdings Limited holds 38.39% of the shares, amounting to 537,993,892 shares, including 228,605,681 convertible securities[179]. - The company has a stock option plan adopted on December 8, 2015, with a total of 397,721,900 stock options granted to employees and directors[183]. - The exercise price for stock options ranges from HKD 0.179 to HKD 0.321, with various exercise periods extending to 2028[183]. Strategic Outlook - The company has not reported any new strategies or market expansions in the current financial year[182]. - The company has not disclosed any new product developments or technological advancements in the recent reports[182]. - There are no reported mergers or acquisitions in the current financial year, maintaining the company's existing structure[182]. - The company repurchased 350,000 shares at a total cost of approximately HKD 43,000 (excluding transaction fees) during the fiscal year ending June 30, 2022[194]. - Due to uncertainties caused by the COVID-19 pandemic, the company decided to repurpose the public offering proceeds for general working capital instead of land acquisition and facility construction[196].

Financial Performance - The company's revenue for the six months ended December 31, 2021, increased by approximately 46% to about HKD 12,000,000, while it recorded a loss of approximately HKD 54,000,000 compared to a loss of HKD 47,000,000 in the same period of 2020[10]. - For the six months ended December 31, 2021, the company's revenue was HKD 12,231,000, an increase of 46.5% compared to HKD 8,393,000 for the same period in 2020[72]. - The total loss before tax for the company was HKD 54,080 thousand for the six months ended December 31, 2021, compared to a loss of HKD 47,111 thousand for the same period in 2020, reflecting an increase in losses[137]. - The total comprehensive loss for the period was HKD 53,738,000, compared to HKD 43,680,000 in the previous year, reflecting a 23.4% increase in losses[74]. - Basic and diluted loss per share for the period was HKD 3.60, compared to HKD 3.04 and HKD 3.18 for the same period in 2020, respectively[75]. - Basic loss per share for the six months ended December 31, 2021, was HKD (50,430,000), compared to HKD (42,869,000) for the same period in 2020, representing an increase in loss[144]. - Diluted loss per share for the six months ended December 31, 2021, was HKD (50,430,000), slightly improved from HKD (50,914,000) in the previous year[144]. Revenue Sources - Rental income from investment properties for the same period was approximately HKD 4,000,000, up from HKD 3,000,000 in 2020[11]. - The property investment segment generated revenue of HKD 4,341 thousand, while the R&D segment generated HKD 7,890 thousand, indicating a shift in revenue sources[134]. - The largest customer accounted for 40% of total revenue, while the top five customers represented 90% of total revenue, indicating a high customer concentration risk[59]. Investment and Development - The technology department has made progress in developing new generation technologies involving imaging, monitoring, navigation, and advanced semiconductor processing, with an investment of approximately HKD 140,000,000 in collaboration with the Finnish National Technology Innovation Agency[13]. - The technology department is expected to generate USD 100,000,000 in revenue by 2026 from several technology products or systems currently under development[13]. - Dynim Oy, a subsidiary, is developing high-end camera products and AI software for industrial applications, with a commercial version of its robust stereo camera expected to be launched in Q1 2022[21]. - The IPESSA Classic product, developed by Navigs Oy, is aimed at automated agriculture and has shown limited market appeal, leading to a focus on specific applications requiring high positioning performance[23]. - The technology department consists of approximately 50 R&D engineers across five operational sites in four countries[13]. - The company’s R&D efforts focus on producing and selling portable X-ray systems and advanced algorithms, indicating a commitment to innovation and technology development[128]. Financial Position - As of December 31, 2021, the group’s net current liabilities were approximately HKD 23,445,000, indicating significant uncertainty regarding the group's ability to continue as a going concern[93]. - The group reported a loss of approximately HKD 50,430,000 for the six months ended December 31, 2021[93]. - The group has a mortgage loan of approximately HKD 84,588,000, which is expected to be repaid according to the scheduled repayment dates[93]. - The fair value of investment properties located in Hong Kong was reported at HKD 539,300,000 as of December 31, 2021[102]. - The company reported a net asset value of HKD 756,293 thousand as of December 31, 2021, down from HKD 809,961 thousand in June 2021, reflecting a decrease of about 6.6%[82]. - Total liabilities increased to HKD 153,669 thousand from HKD 165,623 thousand, indicating a reduction of approximately 7.2% in current liabilities[80]. - The company incurred financing activities cash outflow of HKD (19,700) thousand, compared to HKD (2,686) thousand in the previous year, indicating a significant increase in financing costs[87]. Shareholder Information - As of December 31, 2021, Basurto Holdings Limited, Cityguard Holdings Limited, and Five Star Investments Limited each hold 508,848,531 shares, representing 36.31% of the total equity[47]. - Gold Seal Holdings Limited holds 309,388,211 shares and convertible securities totaling 537,993,892 shares, representing 38.39% of the total equity[47]. - The total number of shares held by major shareholders amounts to 1,176,614,613, which is 83.96% of the total equity[47]. - The company has a stock option plan adopted on December 8, 2015, with a total of 397,721,900 stock options granted to employees and directors[54]. - Major shareholders, including Mr. Ong and Ms. Xu, hold significant portions of stock options, with Mr. Ong holding 13,676,400 options at an exercise price of HKD 0.321[54]. - The total number of shares held by Ms. Xu amounts to 537,993,892, representing 38.39% of the total equity[47]. Operational Challenges - The company has decided to terminate the operation of its subsidiary Next Level A.I. Solutions, LLC due to various macroeconomic factors and challenges in the technology productization process[13]. - The company has not established a formal board diversity policy, believing that the skills and experience of board members are more critical for effective governance[67]. - The company confirmed that it has implemented various strategies to enhance its revenue and profitability despite the current financial challenges[93]. Cash Flow and Assets - The net cash used in operating activities was HKD (30,270) thousand for the six months ended December 31, 2021, compared to HKD (31,605) thousand in the same period of 2020, showing an improvement of about 4.2%[87]. - Cash and cash equivalents at the end of the period were HKD 111,003 thousand, down from HKD 180,287 thousand year-over-year, a decrease of approximately 38.4%[87]. - Non-current assets totaled HKD 801,794 thousand as of December 31, 2021, down from HKD 828,826 thousand in June 2021, representing a decrease of approximately 3.3%[80]. - Current assets decreased to HKD 130,224 thousand from HKD 170,174 thousand, a decline of about 23.5%[80]. - The company’s inventory increased to HKD 9,794 thousand from HKD 3,254 thousand, representing a rise of approximately 201.5%[80]. Debt and Financing - The company had outstanding related party payables totaling HKD 20,669,000 as of December 31, 2021, down from HKD 24,712,000 as of June 30, 2021[167]. - The company’s mortgage loans were HKD 84,588,000 as of December 31, 2021, with repayment scheduled over the next 293 months[170]. - The company issued 194,208,539 convertible bonds in 2017, raising approximately HKD 48,552,000 from the public offering[175]. - The company’s convertible bonds are set to mature on November 23, 2024, and can be converted into ordinary shares at a price of HKD 0.25 per share[175]. - The company’s total liabilities include a significant portion classified as current liabilities due to the nature of the convertible bonds and their potential impact on public shareholding[182].

Financial Performance - The company recorded a loss of approximately HKD 53 million in 2021, a significant reduction from a loss of HKD 136 million in 2020, primarily due to a fair value gain of HKD 10 million from investment properties[27]. - The total revenue for the year ending June 30, 2021, was approximately HKD 8 million, consistent with the revenue from 2020[28]. - The technology department generated revenue of approximately HKD 11 million during the year, which fell short of expectations due to the negative impacts of COVID-19[30]. - The company anticipates that the technology department will generate USD 100 million in revenue by 2026[30]. - The largest customer accounted for 41% of total revenue, while the top five customers represented 73% of total revenue for the year ending June 30, 2021[168]. - The company reported a cumulative reserve available for distribution to shareholders of HKD 251,952,000 as of June 30, 2021[166]. Investments and Development - The technology department has invested approximately HKD 140 million in collaboration with the Finnish National Technology Innovation Agency, with expectations of significant further investments in the coming years[30]. - Pexray Oy, a subsidiary, reported total sales of approximately HKD 11 million for the year, focusing on security and non-destructive testing applications[31]. - The company is developing a robust stereo camera for heavy industrial applications, with the first two units delivered for trial use in May 2021[32]. - The commercial version of the robust stereo camera is expected to be launched in Q4 2021, after delays in completing key product features[32]. - The development of the 3D sensing and monitoring camera has been postponed, with planning for potential projects to begin in Q4 2021[33]. - IPESSA Tiny, a low-cost positioning module, is currently in prototype testing with selected customers and is expected to begin mass production in early 2022[34]. - The A2K high-performance video sensor is set to launch its first batch to customers in Q4 2021 to Q1 2022, with initial results indicating it will meet industry performance standards in 2022[36]. - The company made significant investments in high-tech products, with ongoing research and development efforts that may not guarantee expected economic benefits[153]. Corporate Governance - The board consists of one executive director, two non-executive directors, and three independent non-executive directors, ensuring a diverse range of expertise in management, property market, electronics, accounting, and corporate development[63]. - The company has adopted the standard code of conduct for securities trading as per the listing rules, confirming compliance for the year ended June 30, 2021[62]. - The company has complied with all provisions of the corporate governance code as per the Hong Kong Stock Exchange for the year ended June 30, 2021, with some deviations disclosed[60]. - The chairman and CEO roles are separated, with the current chairman temporarily acting as CEO until a new appointment is made[69]. - The company reviews its corporate governance practices regularly to ensure compliance with the code[61]. - The company has established a nomination committee to review the structure, number, and composition of the board of directors, ensuring members possess the necessary skills and experience for business development and strategy[71]. - The audit committee's responsibilities include reviewing financial information and overseeing the company's financial reporting system and internal controls[80]. - The company has made appropriate insurance arrangements for directors and senior officers against potential legal actions[72]. - The company has not reported any serious violations of labor practices or safety regulations during the reporting period[124][131]. Environmental, Social, and Governance (ESG) - The environmental, social, and governance (ESG) report covers the period from July 1, 2020, to June 30, 2021, assessing related risks and ensuring effective management[100]. - The total greenhouse gas emissions for the reporting period were 128 tons CO2 equivalent, a decrease from 217 tons in the previous year, representing a reduction of approximately 41%[109]. - The company reported a total energy consumption of 10,411 liters of gasoline and 186,891 kWh of purchased electricity in 2021, with a per employee density of 104 liters and 1,869 kWh respectively[115]. - The nitrogen oxides (NOX) emissions increased to 6.2 kg in 2021 from 4.4 kg in 2020, while total emissions rose to 6.9 kg from 4.8 kg, indicating a rise of approximately 43.75%[106]. - The company aims to maintain the same level of emissions and energy consumption through green office initiatives until June 30, 2022[109][118]. - The company has established an environmental policy to address significant environmental issues related to emissions and resource usage[104]. - The company has identified climate change as a relevant risk but does not consider it a major issue due to the nature of its business[121]. Employee and Labor Practices - The company has a total of 100 employees, with 84 males and 16 females, and 87 full-time and 13 part-time/contract employees[125]. - Employee turnover rate is 5% for males and 0% for females, with an overall turnover rate of 4% in Asia, 6% in Europe, and 0% in North America[128][130]. - 30% of male employees and 25% of female employees received training during the reporting period, with an average of 12 hours for males and 9 hours for females[134]. - The company maintains a commitment to providing a safe and healthy work environment, with no work-related safety incidents reported in the past three years[131]. - The company has implemented a transparent and fair supplier selection process, emphasizing environmental and social responsibility[139]. Shareholder and Ownership Structure - As of June 30, 2021, the total number of shares held by major shareholders amounted to 1,176,614,613, representing 83.85% of the company's equity[177]. - The company has a significant concentration of ownership, with the top five shareholders controlling over 83% of the equity[177]. - The beneficial owner, Mr. Ong Tak Ming, holds a total of 537,993,892 shares, which is 38.34% of the total equity[177]. - The ownership structure indicates a high level of control by a few entities, which may impact corporate governance and decision-making[179]. - The report highlights the importance of transparency in shareholder interests and compliance with regulatory requirements[179]. Miscellaneous - The company has not made any changes to its charter documents during the fiscal year ending June 30, 2021[97]. - The company has not reported any significant non-compliance issues with environmental laws during the reporting period[104]. - The company has not received any notifications regarding additional interests or short positions in its shares as of June 30, 2021[179]. - The company has not entered into any management contracts related to significant portions of its business during the year[187]. - The company did not engage in any share-linked agreements other than the convertible bonds and share option plan disclosed in the financial statements[189].

Financial Performance - The group's revenue for the six months ended December 31, 2020, increased by approximately 93% to about HKD 8,000,000, while the loss was approximately HKD 44,000,000, compared to a loss of HKD 47,000,000 in the same period last year[9]. - The company reported revenue of HKD 8,393,000 for the six months ended December 31, 2020, representing a 93.9% increase from HKD 4,341,000 in the same period of 2019[71]. - Gross profit for the same period was HKD 5,493,000, compared to HKD 4,341,000 in 2019, indicating a positive growth trend[71]. - The company incurred an operating loss of HKD 45,810,000, slightly higher than the loss of HKD 45,523,000 in the previous year[71]. - The total comprehensive loss for the period was HKD 43,680,000, compared to HKD 47,424,000 in the prior year, showing a reduction in losses[70]. - The total loss before tax for the six months ended December 31, 2020, was HKD 47,111,000, compared to a loss of HKD 46,812,000 in the same period of 2019, indicating a slight increase in losses[126]. - The group reported a segment loss of HKD 50,062,000 for the six months ended December 31, 2020, compared to a loss of HKD 36,875,000 in the same period of 2019, reflecting a deterioration in performance[126]. - The group reported a loss of HKD 42,869,000 for the six months ended December 31, 2020, compared to a loss of HKD 44,075,000 in the same period of 2019, indicating a slight improvement in performance[134]. Revenue Sources - Rental income from investment properties for the same period was approximately HKD 3,000,000, down from HKD 4,000,000 in the previous year[10]. - The property investment segment generated revenue of HKD 3,255,000, while the R&D segment contributed HKD 5,138,000 for the six months ended December 31, 2020[115]. - The group’s revenue from external customers in Hong Kong was HKD 3,255,000, down from HKD 4,341,000 in the same period of 2019, reflecting a decline in local market performance[126]. - The group’s revenue from external customers in Finland was HKD 5,138,000 for the six months ended December 31, 2020, indicating successful market penetration in this region[126]. Technology Development - The technology department has made progress in developing new generation technologies involving imaging, monitoring, navigation, and advanced semiconductor processing, with an investment of approximately HKD 140,000,000 in collaboration with the Finnish National Technology Innovation Agency[12]. - The technology department is expected to generate revenue of USD 100,000,000 by 2026 from several technology products or systems currently under development[12]. - The company plans to launch various accessories and software functionalities for its industrial non-destructive testing products in the second quarter of 2021[15]. - The IPESSA Classic and IPESSA Tiny products are in the trial production stage, with mass production expected soon, targeting automated agriculture and delivery robots[16]. - The SE01 and SE02 products, designed for high-precision 3D data collection, were launched in November 2020, with initial sales expected in the second quarter of 2021[19][20]. - The company is developing a new camera system, with the hardware prototype expected to launch in August 2021 and mass production planned for December 2021[25]. - The A2K high-performance video sensor is set to be launched in mid-2021, targeting security and machine vision applications[27]. - The complete product package is scheduled for release in December 2021[26]. Financial Position - The group reported net current assets of approximately HKD 19,000,000 and a current ratio of 1.11 as of December 31, 2020[29]. - Cash and bank balances amounted to approximately HKD 180,000,000 as of December 31, 2020[29]. - Total outstanding liabilities were approximately HKD 194,000,000, including trade and other payables of about HKD 14,000,000 and bank loans of approximately HKD 100,000,000[29]. - The capital-to-debt ratio was approximately 19.20% as of December 31, 2020[30]. - The company has no significant investments, acquisitions, or disposals during the six months ended December 31, 2020[31]. - The total number of employees as of December 31, 2020, was 104, with compensation determined based on market conditions[33]. - The company has allocated HKD 39,000,000 for facility construction, which is contingent upon the acquisition of land currently under negotiation[60]. - The negotiation for land acquisition has been delayed due to the COVID-19 pandemic, with no meaningful estimate on when negotiations will resume[60]. Shareholder Information - The board recommended not to declare any interim dividend for the six months ended December 31, 2020[35]. - The company repurchased 2,545,000 shares at a total cost of approximately HKD 453,000 during the six months ended December 31, 2020[55]. - The largest customer accounted for 39% of total revenue, while the top five customers represented 80% of total revenue for the same period[56]. - The company has not engaged in any arrangements that would allow directors or key executives to benefit from purchasing shares or bonds of the company or any other entity during the reporting period[54]. - The company has a stock option plan adopted on December 8, 2015, granting options for a total of 397,721,900 shares to selected participants[51]. - The company’s major suppliers accounted for 38% of total cost of sales, while the top five suppliers accounted for 73%[56]. - The company’s stock options have exercise prices ranging from HKD 0.179 to HKD 0.321, with various exercise periods extending to 2028[51]. - The company has not purchased, sold, or redeemed any of its listed shares other than the aforementioned repurchase[55]. Asset Valuation - As of December 31, 2020, the fair value of financial assets and liabilities is approximately HKD 584.175 million, with significant contributions from investment properties valued at HKD 532.5 million[96][98]. - The total fair value of investment properties located in Hong Kong is HKD 532.5 million, reflecting a decrease from the previous period's valuation of HKD 592.3 million[100]. - The fair value loss on investment properties for the six months ended December 31, 2020, was HKD 20,800,000, compared to HKD 9,800,000 in the same period of 2019, indicating increased valuation challenges[129]. - The group recognized a gain of approximately HKD 3,772,000 from the remeasurement of its interest in Imagica Technology Incorporation, which became a subsidiary during the reporting period[141]. - The fair value of golf club memberships was HKD 8,624,000 as of December 31, 2020, with a fair value loss of approximately HKD 20,000 recognized during the period[142]. Liabilities and Borrowings - The total liabilities decreased from HKD 15,843 million in June 2020 to HKD 14,416 million in December 2020, a reduction of approximately 9%[155]. - The company reported a total of HKD 99,995 million in secured bank borrowings as of December 31, 2020, slightly down from HKD 101,290 million in June 2020[158]. - The weighted average interest rate on bank borrowings was 1.87% as of December 31, 2020, compared to 2.14% in June 2020[162]. - The company has HKD 15,380 million of bank borrowings due within one year as of December 31, 2020, consistent with the previous period[161]. - The company issued a total of 194,208,539 convertible bonds in 2017, raising approximately HKD 48,552 million[166]. - The company has a cash settlement option for convertible bonds, allowing it to pay cash instead of issuing shares if necessary[169]. - The total amount of other borrowings was HKD 25,162,000 as of December 31, 2020, an increase from HKD 17,596,000 as of June 30, 2020[183]. - Other borrowings due after twelve months amounted to HKD 23,890,000 as of December 31, 2020, compared to HKD 17,014,000 as of June 30, 2020[184]. Accounting and Compliance - The financial statements are prepared in accordance with Hong Kong Accounting Standards and the relevant listing rules, ensuring consistency with the previous financial year[88][89]. - The company did not adopt any new accounting standards that would have a significant impact on its financial statements during the reporting period[90]. - The financial statements are unaudited and should be read in conjunction with the annual financial statements for the year ended June 30, 2020[88][90].

Financial Performance - The company recorded a loss of approximately HKD 136 million for the year ended June 30, 2020, compared to a loss of HKD 65 million in the same period of 2019, primarily due to a fair value loss on investment properties of HKD 65 million [8]. - The company's revenue, including rental income from investment properties, was approximately HKD 8 million for the year ended June 30, 2020, unchanged from HKD 8 million in 2019 [9]. - Total revenue for the year ended June 30, 2020, was HKD 11,742,000, compared to HKD 8,199,000 in 2019, representing a growth of 43.5% [178]. - Gross profit increased to HKD 9,756,000 in 2020 from HKD 8,199,000 in 2019, reflecting a gross margin improvement [178]. - Operating loss for the year was HKD 132,224,000, significantly higher than the loss of HKD 58,204,000 in the previous year, indicating a deterioration in operational performance [178]. - The company reported a net loss of HKD 136,109,000 for the year, compared to a loss of HKD 64,812,000 in 2019, marking a 109.5% increase in losses [178]. - Basic and diluted loss per share for the year was HKD 8.96, compared to HKD 4.05 and HKD 4.30 in 2019, respectively [178]. - The company recognized a gain of HKD 3,772,000 from the disposal of an associate during the year [178]. - Total other income for the year was HKD 2,741,000, a significant increase from HKD 894,000 in 2019 [178]. - Financing costs increased to HKD 4,504,000 from HKD 3,605,000 in the previous year, indicating rising financial expenses [178]. Assets and Liabilities - As of June 30, 2020, the company's net current assets were approximately HKD 33 million, with a current ratio of 1.18 [15]. - The company's total liabilities were approximately HKD 203 million, including trade and other payables of HKD 16 million and bank borrowings of HKD 101 million [15]. - The company's capital debt ratio was approximately 19.07% [16]. - Non-current assets decreased from HKD 918,801 thousand in 2019 to HKD 849,664 thousand in 2020, a decline of approximately 7.5% [179]. - Current assets decreased from HKD 257,183 thousand in 2019 to HKD 217,001 thousand in 2020, a decline of approximately 15.6% [179]. - Total liabilities increased from HKD 160,557 thousand in 2019 to HKD 184,368 thousand in 2020, an increase of approximately 14.8% [179]. - Net assets decreased from HKD 1,002,997 thousand in 2019 to HKD 863,245 thousand in 2020, a decline of approximately 13.9% [182]. - Cash and cash equivalents decreased from HKD 250,714 thousand in 2019 to HKD 209,785 thousand in 2020, a decline of approximately 16.4% [179]. - Inventory increased from HKD 1,993 thousand in 2019 to HKD 2,276 thousand in 2020, an increase of approximately 14.2% [179]. - Trade and other receivables increased from HKD 4,476 thousand in 2019 to HKD 4,940 thousand in 2020, an increase of approximately 10.4% [179]. Corporate Governance - The board recommended not to declare a final dividend for the year [22]. - The board consists of one executive director, two non-executive directors, and three independent non-executive directors, ensuring a diverse range of expertise in management, property market, electronics, accounting, finance, and corporate development [33]. - The company has complied with all provisions of the corporate governance code as per the Hong Kong Stock Exchange, with some deviations disclosed [30]. - The independent non-executive directors are selected based on required skills and experience to ensure strong independent judgment on the board [36]. - The chairman and CEO roles are separated, with the current chairman temporarily acting as CEO until a new appointment is made [39]. - The company reviews its corporate governance practices regularly to ensure compliance with the code [31]. - All independent non-executive directors have confirmed their independence in writing, meeting the independence criteria set by the listing rules [36]. - Non-executive directors are subject to re-election every three years, ensuring accountability and governance [40]. - The board is responsible for setting the strategic direction and policies of the group, overseeing management, and approving significant transactions [33]. - The company has adopted the standard code of conduct for securities transactions by directors, confirming compliance for the year ending June 30, 2020 [32]. - The company has established a nomination committee to review the structure, number, and composition of the board of directors, ensuring members possess the necessary skills and experience for business development and strategy [41]. - The nomination committee held one meeting during the year ending June 30, 2020, to assess the board's structure and evaluate the independence of non-executive directors [45]. - The audit committee conducted two meetings during the year, reviewing the company's financial reports and internal control systems [53]. - The company has made appropriate insurance arrangements for directors and senior officers against potential legal actions [42]. - The board has adopted a nomination policy to enhance board diversity and improve governance standards [45]. - The company does not see the need for a formal board diversity policy, focusing instead on merit-based selection [45]. - The audit committee's responsibilities include reviewing financial data and overseeing the external auditor's independence and scope of work [51]. - The board members are required to retire at least once every three years, with one-third of the directors retiring annually [41]. - The company acknowledges its responsibility for preparing financial statements that fairly reflect its affairs [54]. - The external auditor's responsibilities regarding the financial statements are detailed in the independent auditor's report within the annual report [55]. - The company has adopted a dividend policy where the board will meet semi-annually to consider and declare interim or final dividends, if any [56]. - For the fiscal year ending June 30, 2020, the external auditor fees amounted to HKD 750,000, with HKD 600,000 for audit services and HKD 150,000 for non-audit services [64]. - The board acknowledges its responsibility for the internal control system and has engaged independent consultants to review its effectiveness, covering financial, operational, compliance, and risk management controls [66]. - The company has appointed a new auditor, Lo & Partners CPA Limited, effective immediately, to fill the vacancy left by Deloitte [155]. - The company’s remuneration policy for employees is based on merit, qualifications, and capabilities, while directors' remuneration is determined by the board after considering performance and market statistics [152]. Environmental and Social Responsibility - The company has established an environmental policy addressing significant environmental issues, complying with relevant laws and regulations, with no major non-compliance issues reported for the fiscal year ending June 30, 2020 [73]. - As of June 30, 2020, the total greenhouse gas emissions amounted to 217 tons of CO2 equivalent, an increase of 21.9% from 178 tons in 2019 [78]. - The fuel consumption from vehicles resulted in 17 tons of CO2 equivalent emissions in 2020, down 22.7% from 22 tons in 2019 [78]. - Purchased electricity emissions increased to 200 tons of CO2 equivalent in 2020, up 28.2% from 156 tons in 2019 [78]. - Total energy consumption included 7,299 liters of gasoline in 2020, a decrease of 22.1% from 9,380 liters in 2019 [84]. - The total purchased electricity consumption was 200,116 kWh in 2020, an increase of 28.2% from 156,054 kWh in 2019 [84]. - The company implemented green office actions to reduce environmental impact, including encouraging video conferencing to avoid unnecessary travel [78]. - The company has adopted measures to reduce waste, maintaining low levels of non-hazardous waste through policies promoting reduction, reuse, and recycling [83]. - Employee density for energy consumption was 74 liters per employee in 2020, down from 98 liters in 2019 [84]. - The company reported no significant environmental impact from its operations as of June 30, 2020 [89]. - The company is committed to maintaining a safe and healthy work environment, with no reported violations of health and safety regulations for the year ending June 30, 2020 [92]. - The company reported no work-related fatalities or accidents for the year ending June 30, 2020, due to implemented safety measures [94]. - The company did not identify any serious violations of labor standards during the year ending June 30, 2020 [96]. - The company has not been aware of any significant adverse impacts from major suppliers regarding business ethics, environmental issues, human rights, and labor practices for the year ending June 30, 2020 [97]. - The company emphasizes a zero-tolerance policy towards misconduct and has not received any reports of significant corruption-related risks for the year ending June 30, 2020 [101]. - The company acknowledges the importance of data privacy and has not been aware of any serious violations of data privacy during the year ending June 30, 2020 [100]. - The company is focused on maintaining good relationships with employees and customers, with no significant disputes reported during the year [116]. Investments and Future Outlook - The company has invested approximately HKD 140 million in technology development, with expectations of significant further investments in the coming years [11]. - The technology department generated revenue of approximately HKD 4 million during the year, although it did not meet expectations due to unforeseen COVID-19 impacts [11]. - The company anticipates that its technology department will achieve sales of USD 100 million by 2025 [11]. - The company has made significant investments in high-tech products, with ongoing risks related to market competition and technological innovation [107]. - The company’s operations are significantly influenced by the performance of the Hong Kong real estate market, which is subject to various external factors [107]. - The company plans to allocate HKD 39,000,000 for facility construction, contingent upon the acquisition of the land currently under negotiation [149]. - The negotiations for land acquisition have been delayed due to the COVID-19 pandemic, with no meaningful estimate on when they will resume [149]. - The company expects to complete negotiations within the next twelve months if pandemic-related restrictions are lifted [149]. - The company made a significant investment of 4,118 thousand HKD in business acquisitions during the year, indicating a focus on growth through strategic acquisitions [191].

Financial Performance - The group's revenue for the six months ended December 31, 2019, was approximately HKD 4,000,000, unchanged from the same period in 2018[8]. - The group recorded a loss of approximately HKD 44,000,000, an improvement from a loss of approximately HKD 48,000,000 in the same period of 2018[9]. - The group's net current assets as of December 31, 2019, were approximately HKD 67,000,000, with a current ratio of 1.42[15]. - Total bank and cash balances were approximately HKD 219,000,000 as of December 31, 2019[15]. - The group's total liabilities were approximately HKD 178,000,000, including bank loans of approximately HKD 102,000,000[15]. - The capital-to-debt ratio was approximately 16%[16]. - The report does not provide specific financial performance metrics or future guidance, focusing instead on shareholder equity and ownership structure[28]. Shareholder Structure - As of December 31, 2019, major shareholders include Basurto Holdings Limited with 508,848,531 shares, representing 35.48% of total equity[28]. - Gold Seal Holdings Limited holds 309,388,211 shares and 228,605,681 convertible securities, totaling 537,993,892 shares, which is 37.51% of total equity[28]. - The total number of shares held by major shareholders amounts to 893,236,742, accounting for 82.04% of total equity[28]. - The company has a significant concentration of ownership, with the top five shareholders controlling over 80% of the equity[28]. - The company is actively managing its shareholder structure, with various entities holding significant stakes through trusts and corporate structures[29][30][31]. - The company is subject to the Securities and Futures Ordinance, which mandates the maintenance of a register of interests in shares[28]. - The report indicates that there are no undisclosed interests or short positions held by directors or key executives as of the reporting date[28]. - The company maintains compliance with regulatory requirements regarding shareholder disclosures and interests[28]. Investments and Future Plans - The group has invested approximately HKD 140,000,000 in developing new technologies related to imaging, monitoring, navigation, and advanced semiconductor processing, with significant investments expected in the coming years[11]. - The technology department consists of about 85 R&D engineers across six operational points in six countries, with projected sales of USD 100,000,000 in 2024[11]. - The company plans to utilize HKD 7,800,000 for land acquisition and HKD 39,000,000 for facility construction within the next two years[197][198]. - The company expects to utilize the remaining funds from the public offering within the next twelve months for land acquisition[197]. Share Repurchase and Options - The company repurchased 4,960,000 shares of its ordinary stock at a total cost of HKD 679,000 during the six months ended December 31, 2019[191]. - The company has a total of 397,721,900 share options granted under the share option scheme, with the latest grant of 37,800,000 options at an exercise price of HKD 0.179 on November 9, 2018[187]. Customer Concentration - The company reported that its five largest customers accounted for 100% of the revenue generated from property investments during the reporting period[192]. Other Information - The company has not engaged in any arrangements that would allow its directors or senior executives to benefit from purchasing shares or bonds of the company or any other entity during the reporting period[190]. - The company has not identified any procurement or suppliers during the reporting period[192]. - The company has a total of 63,200,000 HKD allocated for various uses, with 16,400,000 HKD already utilized for operational costs[200]. - The net proceeds from the public offering in December 2017 amounted to approximately HKD 63,200,000, of which HKD 16,000,000 has been utilized by December 31, 2019[200]. - There is no mention of new product development, market expansion, or mergers and acquisitions in the provided content[28]. - The board of directors recommended not to declare any interim dividend for the six months ended December 31, 2019[22].