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].

Financial Performance - The company recorded a loss of approximately HKD 65 million for the fiscal year, compared to a profit of approximately HKD 12 million in the same period last year[24]. - The company’s revenue for the year was approximately HKD 8 million, unchanged from 2018[25]. - Total revenue for the year ended June 30, 2019, was HKD 8,199,000, an increase of 8.7% from HKD 7,542,000 in 2018[193]. - The company reported a loss of HKD 64,812,000 for the year, compared to a profit of HKD 12,022,000 in the previous year, indicating a significant decline in profitability[193]. - Operating expenses increased to HKD 89,900,000 from HKD 57,864,000, reflecting a rise of 55.2% year-over-year[193]. - The total comprehensive loss for the year was HKD 66,527,000, compared to a comprehensive income of HKD 13,682,000 in 2018[193]. - Basic loss per share was HKD 4.05, a decrease from earnings of HKD 1.17 per share in the previous year[193]. Assets and Liabilities - As of June 30, 2019, the company’s current assets net amounted to approximately HKD 97 million, with a current ratio of 1.60[32]. - The company’s total liabilities were approximately HKD 173 million, including bank borrowings of approximately HKD 103 million[32]. - Non-current assets totaled HKD 918,801,000, a slight increase from HKD 905,005,000 in 2018[195]. - Current assets decreased to HKD 257,183,000 from HKD 339,492,000, a decline of 24.2%[195]. - Total liabilities decreased to HKD 160,557,000 from HKD 184,321,000, indicating a reduction of 12.9%[195]. - The company's net assets amounted to HKD 1,002,997,000, down from HKD 1,056,836,000 in the previous year[197]. - The company’s equity attributable to owners was HKD 1,012,531,000, a decrease from HKD 1,060,171,000 in 2018[197]. Corporate Governance - The board of directors recommended not to declare a final dividend for the year[38]. - 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[50]. - The company has complied with all provisions of the corporate governance code as per the Hong Kong Stock Exchange, with some deviations disclosed in the report[47]. - The chairman and CEO roles are separated, with Dr. Weng serving as both chairman and acting CEO, ensuring strong leadership and effective business planning[56]. - Independent non-executive directors are selected based on required skills and experience, with at least one possessing appropriate professional qualifications or relevant financial management expertise[53]. - The company reviews its corporate governance practices regularly to ensure compliance with the code[48]. - All independent non-executive directors confirmed their independence in writing, meeting the independence criteria set by the listing rules[53]. - The company has adopted a standard code of conduct for securities transactions by directors, confirming compliance for the year ended June 30, 2019[49]. - The board has established a nomination committee to review the structure, number, and composition of the board, and to identify suitable candidates for board membership[58]. - The nomination committee held one meeting during the year ending June 30, 2019, to review the board's structure and assess the independence of non-executive directors[63]. - The audit committee held two meetings during the year to review the company's financial statements and internal control systems[70]. - Non-executive directors are subject to re-election every three years, ensuring accountability and governance[57]. Environmental, Social, and Governance (ESG) Practices - The board is responsible for the company's environmental, social, and governance (ESG) strategy and reporting, including the assessment of related risks[89]. - The company reported nitrogen oxides (NOX) emissions of 5.6 kg for the year ended June 30, 2019, compared to 5.5 kg in the previous year, indicating a slight increase[92]. - Sulfur oxides (SOX) emissions were recorded at 0.2 kg for the year ended June 30, 2019, up from 0.1 kg in the previous year[92]. - Greenhouse gas emissions for the year ended June 30, 2019, totaled 178 tons of CO2 equivalent, an increase of 35.9% from 131 tons in 2018[95]. - The company has implemented various energy-saving measures to reduce emissions, including promoting green office actions and encouraging the use of video conferencing[99]. - The company has maintained a low level of harmless waste, with measures in place to reduce paper usage and promote recycling[100]. - The company has not reported any significant non-compliance issues with environmental laws and regulations for the year ended June 30, 2019[90]. - The company emphasizes a safe and healthy work environment, with no reported work-related injuries or fatalities for the year ended June 30, 2019[111]. - The company has not reported any significant violations of labor practices or health and safety regulations for the year ended June 30, 2019[108][109]. - Employee training and development programs are in place to enhance the skills and knowledge of employees, contributing to their value as assets[112]. Shareholder Information - As of June 30, 2019, the total number of shares held by the directors and their associates in the company amounted to 55,497,189 shares, representing 3.86% of the total equity[144]. - Major shareholders include Basurto Holdings Limited and Cityguard Holdings Limited, each holding 508,848,531 shares, which accounts for 35.37% of the total equity[148]. - Gold Seal Holdings Limited holds 309,388,211 shares and 228,605,681 convertible securities, totaling 537,993,892 shares, representing 37.39% of the total equity[148]. - The total equity held by all major shareholders amounts to 1,176,614,613 shares, which is 81.78% of the total equity[148]. - The company has a significant concentration of ownership, with the top five shareholders holding over 81% of the total equity[148]. - The ownership structure indicates a strong control by a few entities, which may impact corporate governance and decision-making processes[149]. Internal Controls and Audit - The audit report confirms that the consolidated financial statements fairly present the group's financial position as of June 30, 2019, in accordance with Hong Kong Financial Reporting Standards[176]. - The audit committee consists of one non-executive director and three independent non-executive directors, ensuring effective internal control reviews and oversight of financial reporting[167]. - The company appointed a new auditor, RSM Hong Kong, effective February 26, 2019, to fill the vacancy left by Deloitte[172]. - The company has established internal controls to prevent material misstatements in financial reporting due to fraud or error[183]. - The audit committee assists the board in overseeing the financial reporting process, ensuring compliance with relevant regulations and standards[184]. - The independent auditor's report emphasizes the importance of key audit matters, particularly the valuation of investment properties, which requires significant management judgment[178]. Future Plans and Investments - The company expects to achieve sales of USD 100 million in the technology department by 2024[27]. - 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[165]. - The company has not reported any new strategies or product developments in the provided documents[145]. - There are no indications of market expansion or acquisitions mentioned in the financial reports[145].

Financial Performance - The group's revenue for the six months ended December 31, 2018, was approximately HKD 4,000,000, a 100% increase compared to HKD 2,000,000 for the same period in 2017[41]. - Revenue for the six months ended December 31, 2018, was HKD 4,341,000, compared to HKD 2,157,000 for the same period in 2017, representing an increase of 101.5%[90]. - The group reported a loss of HKD 48,117,000 for the six months ended December 31, 2018, compared to a profit of HKD 9,221,000 in the same period of 2017[162]. - Operating loss for the period was HKD (47,997,000), a significant decrease from a profit of HKD 10,328,000 in the previous year[90]. - The net loss attributable to owners of the company was HKD (48,117,000), compared to a profit of HKD 9,221,000 in the same period last year[93]. - Total comprehensive loss for the period was HKD (52,276,000), compared to a total comprehensive income of HKD 10,802,000 in the previous year[90]. - Basic and diluted loss per share for the period was HKD (3.35), compared to earnings of HKD 0.68 in the same period last year[93]. - The total comprehensive income for the period was HKD 10,802,000, a decrease from HKD 12,448,000 in the previous year, reflecting a decline in overall profitability[99]. Assets and Liabilities - As of December 31, 2018, the group's net current assets were approximately HKD 130,000,000, with a current ratio of 1.75[47]. - The group had bank balances and cash of approximately HKD 297,000,000 as of December 31, 2018[47]. - The group's total liabilities were approximately HKD 181,000,000, which included bank loans of about HKD 104,000,000[47]. - The capital debt ratio was approximately 15%, calculated as total liabilities divided by total assets[48]. - Non-current assets totaled HKD 895,406,000 as of December 31, 2018, a slight decrease from HKD 905,005,000 as of June 30, 2018[95]. - Current assets decreased to HKD 302,346,000 from HKD 339,492,000 as of June 30, 2018[95]. - Total liabilities decreased from HKD 184,321,000 to HKD 172,812,000 during the same period[95]. - The company's total equity as of December 31, 2018, was HKD 1,016,280,000, down from HKD 1,053,776,000 at the end of 2017, indicating a reduction in shareholder value[99]. Cash Flow and Financing - For the six months ended December 31, 2018, the net cash used in operating activities was HKD (30,896,000), compared to HKD (15,913,000) for the same period in 2017, indicating a significant increase in cash outflow[101]. - The company reported a net cash outflow from financing activities of HKD (2,816,000) for the period, contrasting with a net cash inflow of HKD 22,758,000 in the same period last year[101]. - The company incurred a loss of HKD (5,047,000) in repaying related party loans, a significant reduction from HKD (34,721,000) in the previous year, indicating improved management of related party transactions[101]. - Cash and cash equivalents at the end of the period were HKD 297,305,000, a decrease from HKD 362,431,000 in the previous year, highlighting liquidity challenges[101]. Shareholder Information - As of December 31, 2018, the total number of ordinary shares held by major shareholders includes 508,848,531 shares by Basurto Holdings Limited, representing 35.43% of the equity[62]. - Gold Seal Holdings Limited holds 309,388,211 shares and convertible bonds totaling 228,605,681, amounting to 537,993,892 shares, which is 37.46% of the equity[62]. - The total number of shares held by Mr. Ong Tak Ming is 893,236,742, which constitutes 81.93% of the equity[62]. - The group did not declare or propose any dividends for the six months ended December 31, 2018, consistent with the previous year[161]. Investment and Business Strategy - The group established a joint venture named Imagica Technology Inc., in which it holds a 49% interest, to expand into high-tech product development[43]. - The group plans to diversify its investments and expand its high-tech business into various fields[43]. - The company operates in two segments: property investment and R&D, focusing on portable X-ray systems and advanced software solutions[151]. - The company’s R&D segment is dedicated to developing high-tech products, including advanced algorithms and imaging sensors, indicating a strategic focus on innovation[151]. Stock Options and Shares - A total of 126,000,000 share options were granted under the company's share option scheme on November 9, 2018[44]. - The exercise price for stock options granted during the reporting period ranges from HKD 0.179 to HKD 0.321[70]. - The company has a stock option plan adopted on December 8, 2015, involving a total of 397,721,900 shares[69]. - The weighted average number of ordinary shares for calculating basic loss per share increased to 1,436,106,716 for the six months ended December 31, 2018, from 1,351,640,370 in the same period of 2017[164]. Fair Value and Financial Instruments - The company adopted the new Hong Kong Financial Reporting Standard No. 9, which may have impacted the accounting policies and financial statement amounts[108]. - The group classifies its financial assets into categories based on the business model for managing those assets and the cash flow characteristics of the assets[114]. - Debt instruments are classified into three measurement categories: amortized cost, fair value through other comprehensive income, and fair value through profit or loss[117]. - The fair value of financial assets and liabilities is equivalent to their carrying amounts, indicating no significant discrepancies[128]. - The total fair value of financial assets measured at fair value through profit or loss was HKD 52,701,000, which includes golf memberships valued at HKD 12,450,000 and deposits related to life insurance policies at HKD 40,251,000[134]. - The fair value loss on investment properties for the six months ended December 31, 2018, was HKD 7,970,000, compared to a gain of HKD 28,820,000 in the same period of 2017[167]. Administrative and Other Expenses - The company reported a significant increase in administrative expenses, totaling HKD (47,965,000) compared to HKD (24,725,000) in the previous year[90]. - The company recognized a total of HKD 11,630,000 in equity changes during the period, reflecting adjustments in non-controlling interests[99]. Related Party Transactions - The amount payable to related parties was HKD 19,341,000 as of December 31, 2018, down from HKD 24,388,000 as of June 30, 2018[178]. - The company incurred transaction costs of approximately HKD 1,623,000, which were immediately deducted from profit or loss[193].