Financial Performance - Revenue for the six months ended December 31, 2021, was HKD 335,607,000, an increase of 16.1% compared to HKD 289,241,000 in the same period of 2020[10] - Gross profit for the period was HKD 84,239,000, representing a gross margin of 25.1%, up from HKD 67,781,000 and a margin of 23.4% in the previous year[10] - Net profit attributable to shareholders was HKD 15,855,000, a decrease of 10.9% from HKD 17,805,000 in the prior year[12] - Total comprehensive income for the period was HKD 23,754,000, down from HKD 63,595,000 in the same period last year[13] - The earnings per share for the period was HKD 2.32, down from HKD 2.61 in the same period last year[16] - Basic earnings per share for the company were HKD 0.0232 in 2021, compared to HKD 0.0261 in 2020, a decrease of 11%[49] - The profit before tax for the group was HKD 15,855,000 in 2021, down from HKD 17,805,000 in 2020, indicating a decline of 11%[49] Cash Flow and Liquidity - The company's cash and cash equivalents at the end of the period were HKD 213,185,000, a decrease from HKD 423,523,000 at the beginning of the period[21] - The company reported a net cash outflow from operating activities of HKD 258,137,000, compared to an outflow of HKD 6,831,000 in the previous year[22] - Cash and cash equivalents decreased to HKD 213,185,000 from HKD 340,207,000 as of June 30, 2021, primarily due to property acquisitions and construction costs[106] Assets and Liabilities - The total assets less current liabilities amounted to HKD 2,818,655,000, slightly up from HKD 2,808,092,000 as of June 30, 2021[19] - The company’s total liabilities increased to HKD 1,078,893,000 from HKD 910,185,000 in the previous period[19] - As of December 31, 2021, total equity amounted to HKD 2,449,613,000, an increase from HKD 2,432,846,000 as of December 31, 2020, reflecting a growth of approximately 0.7%[24] - The company’s bank loans in HKD amounted to HKD 980,074,000 as of December 31, 2021, an increase from HKD 813,558,000 as of June 30, 2021[107] - The company provided guarantees for bank loans to its subsidiaries amounting to HKD 820,719,000 as of December 31, 2021, up from HKD 670,640,000 as of June 30, 2021[109] Investments and Acquisitions - The company completed the acquisition of six properties on Boundary Street for a total price of HKD 183,500,000 on December 22, 2021[111] - The company acquired a 15% stake in Novell Enterprises Inc. for USD 900,000 (approximately HKD 7,002,000) on October 29, 2021, making Novell a wholly-owned subsidiary[112] - The carrying amount of development properties rose significantly to HKD 590,758,000 as of December 31, 2021, compared to HKD 335,843,000 as of June 30, 2021, indicating an increase of about 76%[66] Revenue Segments - Revenue from the jewelry business increased to HKD 329,943,000 in 2021, up from HKD 284,401,000 in 2020, representing a growth of 16%[37] - Rental income rose to HKD 3,875,000 in 2021, compared to HKD 2,633,000 in 2020, marking an increase of 47%[37] - The jewelry segment's revenue rose by approximately HKD 45,542,000 or 16% to HKD 329,943,000, with a profit of HKD 30,344,000 compared to HKD 26,461,000 in the previous period[97] Corporate Governance and Compliance - The financial statements were prepared in accordance with Hong Kong Financial Reporting Standards, ensuring compliance with local regulations[26] - The auditor's report confirmed that there were no reservations or emphasis of matter, indicating a clean audit opinion[27] - The company complies with all applicable corporate governance codes, with some deviations noted regarding the roles of the chairman and CEO[131] Share Capital and Options - As of December 31, 2021, the total number of issued and fully paid ordinary shares remained unchanged at 683,118,258, with a total capital of 560,673 thousand HKD[79] - The company has not granted or exercised any share options during the six months ended December 31, 2021, maintaining a total of 12,200,000 unexercised share options with a weighted average exercise price of 1.67 HKD[84] - The company has not issued any stock options under the 2020 Share Option Scheme since its adoption[116] Future Outlook - The group expects the commercial property market to gradually recover, with rental markets stabilizing despite the impact of the fifth wave of COVID-19[102] - The group plans to redevelop a site at 65 Castle Peak Road into a 25-story residential project, with completion expected by the end of 2022[100] - The group anticipates that the economic recovery will support demand in the primary residential market due to strong demand for quality properties and a low-interest environment[102] Employment and Staff - As of December 31, 2021, the company employed approximately 540 staff, a decrease from 567 as of June 30, 2021[115]

Financial Performance - For the fiscal year ended June 30, 2021, the Group's consolidated revenue increased by approximately HK$116.0 million or 27.6% from HK$420.3 million to HK$536.3 million[19] - Profit attributable to owners of the Company was HK$19.9 million, a turnaround from a loss of HK$15.3 million in the previous year[19] - Basic earnings per share for the year was HK2.91 cents, compared to a basic loss per share of HK2.25 cents in the previous year[19] - The Group recognized a profit of approximately HK$77.7 million from the change in fair value of investment properties, partially offset by an impairment loss on mining rights of HK$59.9 million[19] - The Group's cost management measures and government subsidies related to COVID-19 contributed to improved financial performance[26] Jewellery Division Performance - The jewellery division's revenue increased by approximately HK$123.4 million or 30.6% to HK$526.4 million for the year ended June 30, 2021[26] - The Group successfully reversed a loss of approximately HK$20.6 million in the previous year to a profit of approximately HK$34.2 million in the jewellery division[26] - The jewellery segment's revenue increased by approximately HK$123.4 million or 30.6%, from HK$403.0 million to HK$526.4 million for the year ended June 30, 2021[27] - The jewellery segment turned around from a loss of approximately HK$20.6 million to a profit of approximately HK$34.2 million for the year ended June 30, 2021[27] Market and Sales Strategy - The Group enhanced collaboration with e-retailers to boost online sales and marketing, adapting to changing consumer behavior due to COVID-19[26] - The global economic recovery in 2021 led to positive growth in jewellery retail sales in the US and Europe[26] - The Group's market expansion efforts included leveraging online and digital solutions to reach customers effectively[26] - The Group's proactive adaptation to customer behavior included a pivot towards online sales and marketing, enhancing its presence on e-commerce platforms[27] Real Estate and Property Development - The redevelopment of the Wan Chai Road Property is expected to be completed by the end of 2021, with a gross floor area of approximately 86,970 sq. ft.[31] - The Cheung Wah Street Property redevelopment is progressing well, with an expected completion date in late 2022 and a proposed gross floor area of approximately 29,147 sq. ft.[33] - The Group's Glassview Commercial Building continues to generate stable income despite the pandemic, with all units fully let[33] - In May 2021, the Group acquired properties at Hart Avenue, Kowloon, with a gross floor area of approximately 5,100 sq. ft., which are fully let and generating stable rental income[33] Financial Position and Capital Management - As of June 30, 2021, the Group's gearing ratio was 0.1996, an increase from 0.1344 in 2020[47] - The Group's cash and cash equivalents decreased to HK$340,207,000 from HK$468,521,000 in 2020[48] - Other borrowings related to amounts due to joint ventures and related companies increased to approximately HK$114,188,000 from HK$84,347,000 in 2020[47] - Bank and other loans amounted to approximately HK$836,210,000, up from HK$751,663,000 in 2020[47] - The decrease in cash was primarily due to the acquisition of a property at Hart Avenue, Kowloon, and construction costs for projects at Cheung Wah Street and Wan Chai Road[48] Corporate Governance and Management - The Company has complied with the corporate governance code effective from April 1, 2012, with some deviations noted in specific clauses[120] - The board of directors believes that good corporate governance can maximize shareholder benefits[121] - The Company emphasizes the importance of Board diversity, considering factors such as gender, age, cultural background, and professional experience in its composition[155] - The Company has established a formal and transparent procedure for the appointment of new directors, enhancing governance practices[148] - The Company ensures that all Directors are provided with timely and adequate information to make informed decisions[171] Audit and Risk Management - The Audit Committee is responsible for monitoring the financial reporting system, risk management, and internal control systems, as well as reviewing annual reports and financial statements[198] - The Audit Committee ensures fair and independent investigations of reported concerns[199] - The Board confirmed that there was no significant weakness in the risk management and internal control systems, and areas for improvement have been identified with appropriate measures taken[192] - Arrangements are in place for employees to raise concerns about financial reporting improprieties[199] Employee and Community Engagement - The Group employs approximately 567 employees, with the majority located in China, and has adopted share option schemes to attract and retain qualified personnel[56] - The Group is actively involved in community services and has leadership roles in various associations, enhancing its corporate social responsibility profile[102] - The Group's involvement in various community and charitable organizations demonstrates its commitment to social impact and community engagement[102]

Financial Performance - The company reported revenue of HKD 289,241,000 for the six months ended December 31, 2020, compared to HKD 286,211,000 in the same period of 2019, representing a slight increase of 1%[10] - Gross profit decreased to HKD 67,781,000 from HKD 77,437,000 year-on-year, indicating a decline of approximately 12.6%[10] - The net profit for the period was HKD 19,238,000, significantly up from HKD 5,911,000 in the previous year, marking an increase of 225%[10] - The total comprehensive income for the period was HKD 63,595,000, compared to HKD 4,185,000 in the same period last year, reflecting a substantial improvement[10] - The company's profit before tax for 2020 was HKD 221,460,000, an increase from HKD 208,774,000 in 2019, representing a growth of approximately 6.5%[39] - The basic earnings per share for 2020 was HKD 2.61, up from HKD 0.99 in 2019, indicating a significant increase of approximately 164.6%[46] - The company's net profit attributable to shareholders was HKD 17,805,000 for the six months ended December 31, 2020, compared to HKD 6,788,000 in the same period of 2019, reflecting an increase of approximately 162.5%[47] - Basic earnings per share for the six months ended December 31, 2020, were HKD 0.26, compared to HKD 0.1 in the previous year[83] Cash Flow and Assets - The company's cash and cash equivalents decreased to HKD 423,523,000 from HKD 547,336,000 year-on-year, a decline of approximately 22.6%[21] - The total assets less current liabilities increased to HKD 2,625,593,000 from HKD 2,549,860,000, showing a growth of about 3%[17] - The company’s equity attributable to owners rose to HKD 2,241,745,000 from HKD 2,179,583,000, an increase of approximately 2.8%[19] - The company incurred a net cash outflow from operating activities of HKD 6,831,000, an improvement from HKD 9,911,000 in the previous year[21] - Investment activities resulted in a net cash outflow of HKD 91,846,000, compared to HKD 51,594,000 in the same period last year, indicating increased investment efforts[21] Revenue Sources - Revenue from sales of goods generated from contracts with customers was HKD 284,401 thousand, compared to HKD 276,099 thousand in the previous year, reflecting an increase of 4.7%[36] - Rental income for the period was HKD 2,633 thousand, up from HKD 2,447 thousand in the previous year, representing an increase of 7.6%[36] - Interest income decreased to HKD 1,854 thousand from HKD 5,395 thousand, a decline of 65.5%[36] - Dividend income from investments was HKD 353 thousand, down from HKD 2,270 thousand, indicating a decrease of 84.5%[36] - Total revenue for the period was HKD 289,241 thousand, slightly up from HKD 286,211 thousand in the previous year, showing a marginal increase of 1.1%[36] Investments and Development - The company operates in four main segments: jewelry design, manufacturing, and sales; property investment and development; mining; and investment[36] - The company entered into a sale agreement for a property in Guangzhou, China, for a consideration of approximately HKD 3,934,000, expected to complete by early March 2021[80] - The company signed a temporary sale agreement to acquire a company for HKD 65,000,000, with the main asset being a property in Kowloon, expected to complete by May 31, 2021[81] - The group holds a 75% interest in a site located at 232 Wan Chai Road, Hong Kong, which is being redeveloped into a 28-story premium office and retail complex with a total floor area of approximately 86,908 square feet, expected to be completed in 2021[85] - The group owns a 90% interest in a site at 7, 7A, 9, and 9A Cheung Wah Street, Cheung Sha Wan, with plans to redevelop it into a 25-story residential development with a total floor area of approximately 29,110 square feet, expected to be completed by Q3 2022[85] Financial Management and Governance - The financial statements were prepared in accordance with Hong Kong Financial Reporting Standards and the relevant disclosure requirements of the Hong Kong Stock Exchange[26] - The auditor's report on the financial statements did not contain any reservations or emphasis of matter[27] - The company has adopted new and revised accounting standards that did not have a significant impact on the financial statements for the reporting period[31] - The company has adopted a conservative strategy for financial risk management, maintaining market risk at a minimum level[104] - The company has complied with all applicable corporate governance codes during the six months ending December 31, 2020, with some deviations noted[116] Shareholder Information - The issued and fully paid ordinary shares remained unchanged at 6,831,182,580 shares, with a total capital of HKD 560,673,000 as of December 31, 2020[67] - The company’s major shareholders include Mr. Chen with a personal interest of 2,700,000 shares, representing 0.48% of the issued share capital[109] - The company’s board members hold significant interests, with Dr. Chen and Ms. Zheng each holding 74.12% of the company’s shares[109] - The company has a total of 5,063,395,220 shares held by major shareholders, indicating a concentrated ownership structure[114] Internal Controls and Audit - The company has not established an internal audit function as of December 31, 2020, but believes that the current organizational structure and management oversight provide sufficient internal control and risk management[121] - The audit committee, composed of four independent non-executive directors, has discussed the accounting policies and financial controls of the group and approved the unaudited consolidated interim financial statements for the six months ended December 31, 2020[125]

Financial Performance - For the fiscal year ended June 30, 2020, the Group's consolidated revenue decreased by approximately HK$20.7 million or 4.7% from HK$441.0 million to HK$420.3 million[16] - The loss attributable to owners of the Company was HK$15.3 million, compared to a profit of HK$43.7 million in the previous year[16] - The decrease in revenue and gross profit was approximately HK$20.7 million and HK$17.0 million respectively[16] - A loss of approximately HK$5.3 million was recognized due to changes in the fair value of investment properties, compared to a gain of approximately HK$37.4 million in the previous fiscal year[16] - The basic loss per share was HK$0.22, compared to basic earnings per share of HK$0.64 in 2019[16] - The Group's revenue from trading fine jewellery decreased by approximately HK$16.2 million or 3.9% from HK$419.2 million to HK$403.0 million for the year ended June 30, 2020[22] - The jewellery segment recorded a loss of approximately HK$20.6 million, down from a profit of approximately HK$5.2 million in the previous year[22] Strategic Initiatives - The Group has enhanced its digital marketing and ecommerce platform to further penetrate the online shopping market, which is one of the fastest-growing channels during the pandemic[22] - The Group plans to strategically strengthen its market position in the UK and USA to benefit from market transformation and increased regional demand[27] - The newly acquired US jewellery companies are expected to enhance the Group's market share in the online retail segment, particularly through efficient drop shipping services[27] - The Group anticipates increased contributions from existing commercial and residential redevelopment projects in the near future, reflecting management's optimism about future growth and potential returns[29] Project Developments - The Group holds 75% interest in a land parcel at No. 232 Wan Chai Road, Hong Kong, which is being redeveloped into a premium grade office and retail composite building with a gross floor area of approximately 86,908 sq. ft[25] - The foundation work for the Wan Chai project was completed in September 2019, and the superstructure work commenced in October 2019, with expected completion in 2021[25] - The Group also owns 90% interests in sites at Nos. 7, 7A, 9, and 9A Cheung Wah Street, with plans to redevelop into a 25-storey residential development with a proposed gross floor area of approximately 29,110 sq. ft[25] - The demolition of the existing building at Cheung Wah Street was completed in July 2019, and foundation works commenced in September 2019, with expected completion around the third quarter of 2022[25] Financial Management - The Group has implemented stringent cost control measures across all offices due to market uncertainties and unprecedented impacts[25] - As of June 30, 2020, the Group's gearing ratio was 0.1344, an increase from 0.0692 in 2019[35] - The cash and cash equivalents decreased to HK$468,521,000 as of June 30, 2020, down from HK$621,380,000 in 2019, primarily due to cash outflows from operating activities, acquisitions, and loan repayments[35] - The Group's bank loans denominated in HK$ amounted to HK$719,289,000 as of June 30, 2020, compared to HK$743,575,000 in 2019[40] - The Group's total borrowings included approximately HK$751,663,000 in bank loans denominated in HK$ and US$ as of June 30, 2020[35] - The Group's financial management strategy includes the use of foreign exchange forward contracts to minimize exchange rate risk[39] Corporate Governance - The company is committed to maintaining high standards of corporate governance practices to maximize shareholder benefits[83] - The Board comprises five Executive Directors, one Non-executive Director, and four Independent Non-executive Directors as of June 30, 2020[106] - The Company has established a Nomination Committee responsible for formulating nomination policy and making recommendations to the Board on the nomination and appointment of Directors[116] - The Company has adopted a Board Diversity Policy to ensure a balance of skills, experience, and diversity among Board members, considering factors such as gender, age, and professional experience[183] - The Company has established various communication channels with shareholders to encourage their participation and feedback[181] Management and Leadership - The Group's Executive Director, Dr. Chan Sing Chuk, has over 60 years of experience in the jewellery industry and is responsible for strategic planning and corporate development[65] - Ms. Cheng Siu Yin, the Managing Director and Co-Founder, has over 45 years of experience in the jewellery industry, focusing on daily operations and financial management[65] - The Group's leadership is focused on long-term sustainability and innovation within the jewellery sector[65] - The Group's management team is committed to enhancing sales and marketing strategies to drive growth[65] Employee and Shareholder Engagement - The Group employs approximately 623 employees, primarily located in the PRC, and has granted 12,000,000 share options to certain employees during the year[47] - A total of 132,000,000 share options have been granted since the adoption of the share option scheme, representing 2.65% of the shares in issue as of June 30, 2020[47] - The Company plans to propose a new share option scheme at the upcoming annual general meeting, as the previous scheme expired on July 12, 2020[49] - The Company expresses gratitude to shareholders, customers, and business partners for their support and trust during challenging times[59] Risk Management - The management does not anticipate the need to change the capital structure given the current financial position[41] - The ongoing COVID-19 pandemic may adversely impact the Group's future financial performance, despite some effects already being reflected in the results for the year ended June 30, 2020[45] - The Group's management is cautious about the ongoing impact of the COVID-19 pandemic, expecting a prolonged economic slowdown and a challenging market recovery[27]

Financial Performance - Revenue for the six months ended December 31, 2019, was HKD 286,211,000, an increase of 16.9% compared to HKD 244,755,000 in the same period of 2018[10] - Gross profit for the same period was HKD 77,437,000, representing a gross margin of 27.0%, up from HKD 58,592,000 in 2018[10] - Net profit for the period was HKD 5,911,000, a significant increase of 136.7% compared to HKD 2,496,000 in the previous year[10] - Basic earnings per share increased to HKD 0.1 from HKD 0.04, reflecting improved profitability[11] - The company reported a net profit margin of 18.36%, indicating strong profitability despite market challenges[21] - The profit attributable to shareholders for the six months ended December 31, 2019, was HKD 6,788,000, compared to HKD 2,498,000 for the same period in 2018, representing a significant increase of 171.5%[64] - The weighted average number of ordinary shares used to calculate basic earnings per share remained unchanged at 6,831,182,580 for both 2019 and 2018[64] Cash Flow and Assets - Cash and cash equivalents decreased to HKD 547,336,000 from HKD 621,380,000, indicating a cash outflow during the period[17] - The company reported a net cash outflow from operating activities of HKD 9,911,000, compared to HKD 15,664,000 in the previous year[18] - Investment activities resulted in a net cash outflow of HKD 51,594,000, a decrease from HKD 141,159,000 in the same period last year[18] - Total assets as of December 31, 2019, were HKD 2,586,676,000, slightly down from HKD 2,591,757,000 as of June 30, 2019[12] - The total equity attributable to owners of the company was HKD 2,218,407,000, down from HKD 2,238,793,000 as of June 30, 2019[14] Accounting Standards and Financial Reporting - The company has adopted new accounting standards, including HKFRS 16, which may impact financial reporting but has not significantly affected the reported amounts[26] - The adoption of HKFRS 16 resulted in the recognition of right-of-use assets amounting to HKD 1,645 million as of July 1, 2019[32] - The total lease liabilities recognized on July 1, 2019, amounted to HKD 1,680 million, with current liabilities of HKD 958 million and non-current liabilities of HKD 722 million[37] - The impact of adopting HKFRS 16 did not affect the opening equity balance[32] - The new definition of leases under HKFRS 16 allows for the recognition of assets and liabilities for most leases, significantly changing the accounting treatment[42] - The group has opted not to capitalize low-value assets and leases with a term of less than 12 months under HKFRS 16[45] Strategic Outlook and Future Plans - Future outlook indicates a focus on expanding market presence and enhancing product offerings, with an emphasis on innovation and technology development[27] - The company plans to invest in new product development, aiming to capture a larger market share in the upcoming fiscal year[27] - The strategic focus for the upcoming year includes enhancing customer engagement through digital platforms and improving service delivery[27] - The management provided guidance for the next quarter, projecting a revenue growth of 10% to 12% based on current market trends[21] - The outlook for 2020 is challenging due to ongoing trade tensions between China and the US, Brexit uncertainties, and the impact of the COVID-19 pandemic on consumer demand, particularly for luxury goods[122] Investments and Acquisitions - The group completed the acquisition of 85% equity in two US jewelry companies for a total consideration of USD 5,100,000 (approximately HKD 39,829,000) on August 7, 2019[111] - The group acquired subsidiaries for HKD 295,680,000 during the period, contributing to the increase in development properties[76] - The group has invested a total of HKD 18,000,000 in the Metropolitan Opportunity Fund SPC, focusing on underperforming assets to transform them into boutique serviced apartments and offices[120] Operational Efficiency - The financial report highlights a significant increase in operational efficiency, with a reduction in costs by approximately 5.6% compared to the previous year[21] - The company experienced a foreign exchange loss of HKD 7,506,000 during the period, compared to a loss of HKD 17,887,000 in the previous year[10] Shareholder Information - The company did not recommend any interim dividend for the six months ended December 31, 2019, consistent with the previous year[61] - The company’s major shareholder, Dr. Chen Shengze, holds 74.12% of the company’s issued share capital[139] - The company’s major shareholder, Dr. Chen Shengze, provided a loan of RMB 4,000,000 (approximately HKD 4,481,000)[131] Risk Management - The company has entered into forward foreign exchange contracts to mitigate currency risk due to fluctuations in the British Pound[135] - The company’s financial risk management strategy is conservative, maintaining market risk at minimal levels[135] Employee Information - As of December 31, 2019, the company employed approximately 677 staff, an increase from 664 as of June 30, 2019[132]

Financial Performance - The Group's consolidated revenue increased by approximately HK$49.1 million or 12.5%, from HK$391.9 million in the previous year to HK$441.0 million[20] - Profit attributable to owners of the Company was HK$43.7 million, a significant decrease from HK$354.8 million in the previous year[20] - The decrease in profit was primarily due to the absence of a one-off gain from the disposal of a 50% joint venture in a shopping mall in Shanghai, which amounted to approximately HK$363.2 million[20] - The profit sharing from the joint venture recorded in 2018 was approximately HK$68.9 million, which was not present in the current year[20] - Basic earnings per share decreased to HK$0.64 cent from HK$5.19 cent in the previous year[20] Revenue Segments - The Group's jewellery revenue increased by approximately HK$32.9 million or 8.5%, from HK$386.3 million to HK$419.2 million[25] - The segment result decreased from HK$7.7 million to approximately HK$5.2 million for the year ended 30 June 2019[25] - The revenue increase is attributed to the expansion of the jewellery business in the UK initiated in November 2018[25] - The prolonged US-China trade tensions are expected to significantly impact the luxury market, particularly with a drop in jewellery sales in the USA due to tariffs imposed in September 2019[35] - The jewellery business in the UK is expected to deliver better results due to higher efficiency and cost savings from combined operations[35] Investments and Acquisitions - The Group has acquired 12 floors of the Yuen Long Properties for HK$129 million, with a gross floor area of approximately 14,508 sq. ft.[30] - The redevelopment of the Wan Chai Property is expected to be completed in 2021, with a total gross floor area of approximately 86,970 sq. ft.[30] - The Group invested HK$18 million into the Metropolitan Opportunity Fund SPC, focusing on repositioning underperforming assets[32] - The expected completion date for the redevelopment of the Cheung Wah Property is around the second quarter of 2022[32] - The Group acquired 90% interests in Equal Glory Limited for approximately HK$159,912,000, making Equal Glory a 90% owned subsidiary[47] Financial Position - As of June 30, 2019, the Group's gearing ratio was 0.0692, indicating a low level of debt relative to equity[41] - Cash and cash equivalents decreased to HK$621,380,000 as of June 30, 2019, down from HK$1,128,664,000 in 2018, primarily due to property acquisitions and loan repayments[41] - The Group's investment properties and other assets had a net carrying value of HK$1,823,879,000 as of June 30, 2019, up from HK$1,320,921,000 in 2018[41] - The Group's bank loans amounted to HK$743,575,000 as of June 30, 2019, an increase from HK$611,000,000 in 2018[41] - The Group's total borrowings are denominated in Hong Kong Dollar and Renminbi, with interest rates linked to the Hong Kong Interbank Offered Rate and the People's Bank of China's benchmark lending rate[43] Corporate Governance - The company has complied with the Corporate Governance Code during the financial year ended 30 June 2019, with deviations from provisions A.2.1, A.4.1, A.6.7, and C.2.5 explained in subsequent paragraphs[99] - The Board held six meetings during the financial year ended 30 June 2019, with full attendance from executive directors[105] - The company has arranged Directors and Officers Liability Insurance for its Directors and Officers[109] - The Company is committed to maintaining high standards of corporate governance practices to maximize shareholder benefits[98] - The Company has established a Nomination Committee responsible for formulating nomination policy and making recommendations to the Board on the nomination and appointment of Directors[126] Risk Management - The Group employs conservative strategies for financial risk management, keeping market risk to a minimum, with all transactions primarily denominated in US Dollar, Hong Kong Dollar, and Renminbi[69] - The Group entered into foreign exchange forward contracts to minimize exchange rate risk due to fluctuations in the British Pound[69] - The Group's risk management and internal control systems have been evaluated on an ongoing basis, with no significant weaknesses identified[158] - The Audit Committee is responsible for overseeing the financial reporting system, risk management, and internal control systems[164] - The effectiveness of the Group's risk management and internal control systems is regularly reviewed by the Audit Committee[164] Shareholder Communication - The Company maintains a corporate website to publish financial reports and shareholder information, enhancing communication with shareholders[189] - The proposed final dividend will be paid on or about January 2, 2020, subject to shareholder approval at the AGM[73] - All resolutions at general meetings will be conducted by poll, except for procedural matters allowed by the Chairman[196] - The Chairman of the AGM will explain the voting procedures at the start of the meeting, with results published the following business day[200] - The Company ensures that all Directors receive adequate and reliable information in a timely manner[112]

Financial Performance - Revenue for the six months ended December 31, 2018, was HKD 244,755,000, an increase of 19% compared to HKD 205,527,000 in the same period of 2017[3] - Gross profit for the same period was HKD 58,592,000, up from HKD 40,778,000, reflecting a significant increase in profitability[3] - The net profit attributable to the owners of the company for the period was HKD 2,496,000, a decrease of 96.5% from HKD 71,648,000 in the previous year[3] - Total comprehensive income for the period was HKD (15,054,000), compared to HKD 131,620,000 in the same period last year, indicating a substantial decline[6] - The group recognized a net profit before tax of HKD 2,772 thousand, down from HKD 4,622 thousand in the previous year, indicating a decline of approximately 40%[55] - For the six months ended December 31, 2018, the profit attributable to the company's owners was HKD 2,498,000, a significant decrease of 96.5% compared to HKD 71,650,000 for the same period in 2017[65] - The basic earnings per share for the six months ended December 31, 2018, was HKD 0.000366, compared to HKD 0.0105 for the same period in 2017[67] - The basic earnings per share for the period were HKD 0.04, down from HKD 1.05 in the previous year[110] Assets and Liabilities - The company's total assets as of December 31, 2018, were HKD 2,714,772,000, a slight decrease from HKD 2,771,677,000 as of June 30, 2018[11] - Cash and cash equivalents at the end of the period were HKD 972,838,000, down from HKD 1,128,664,000 at the beginning of the period[15] - The company's equity attributable to owners decreased to HKD 2,201,477,000 from HKD 2,250,685,000, showing a decline in shareholder value[13] - The company's total liabilities include guarantees for bank loans amounting to HKD 611,831,000 as of December 31, 2018[121] - The company's bank loans due within one year amounted to HKD 93,216,000 as of December 31, 2018, compared to HKD 139,000,000 as of June 30, 2018[77] - The company's debt-to-equity ratio as of December 31, 2018, was 0.01, compared to 0.00 as of June 30, 2018[119] Cash Flow and Operating Activities - The company reported a net cash outflow from operating activities of HKD (15,664,000) for the six months ended December 31, 2018, compared to HKD (22,270,000) in the previous year[15] - The management emphasized the importance of maintaining a strong cash flow, with a reported cash balance of 1,053.1 million as of the latest quarter[18] - As of December 31, 2018, the company's cash and cash equivalents amounted to HKD 972,838,000, a decrease from HKD 1,128,664,000 as of June 30, 2018[119] Revenue Growth and Market Strategy - The company reported a revenue of 2,344.4 million for the year ending December 31, 2018, representing a 2.0% increase compared to the previous year[18] - User data indicated a total of 1,302,090 active users, which is a significant growth from the previous year's 1,216,529[18] - The company provided a future outlook with a revenue guidance of 2,498 million for the upcoming fiscal year, reflecting a positive growth trajectory[18] - The company is exploring market expansion opportunities in Asia, aiming to increase its market share by 15% over the next two years[18] - The jewelry segment achieved a revenue increase of approximately 13.6%, rising from HKD 205,373,000 to HKD 233,266,000, driven by strategic investments and market penetration in the UK[111] Investments and Acquisitions - A strategic acquisition was announced, targeting a company with a valuation of 380.6 million to enhance product offerings and market presence[18] - The group completed the acquisition of 12 floors of a commercial building in Yuen Long for a total consideration of HKD 129,000,000, which is expected to provide stable rental income[114] - The group plans to redevelop a site in Wanchai into a 26-story office and retail complex, with construction expected to be completed by 2021[112] - The group plans to diversify its property investment portfolio using proceeds from the sale of its joint venture in Shanghai[114] Financial Reporting Standards - The company has adopted new accounting standards, including HKFRS 9 and HKFRS 15, which are expected to impact financial reporting positively[20] - The adoption of HKFRS 9 resulted in a change in the impairment model to an "expected loss model," replacing the previous "incurred loss model" under HKAS 39[35] - The expected credit loss model requires the group to recognize expected credit losses for trade receivables and financial assets measured at amortized cost earlier than under HKAS 39[35] - The adoption of HKFRS 15 did not have a significant impact on the group's revenue recognition[39] Corporate Governance and Management - The company has complied with all applicable corporate governance codes during the six months ending December 31, 2018, with some deviations noted[176] - The company has not established an internal audit function as of December 31, 2018, but believes that the current organizational structure and management oversight provide sufficient internal control and risk management[180] - The independent non-executive directors are required to attend the annual general meeting to understand shareholders' opinions, although one director was absent due to other commitments[179] Employee and Shareholder Information - As of December 31, 2018, the company employed approximately 692 employees, an increase from 660 employees as of June 30, 2018[132] - The company has granted a total of 120,000,000 stock options to several directors, with exercise prices ranging from HKD 0.121 to HKD 0.245 per share[132] - The total number of unexercised stock options as of December 31, 2018, is 110,000,000[166] - The company’s total issued share capital is 5,063,395,220 shares, with Dr. Chen Shengze and Ms. Zheng Xiaoyan holding a combined 74.12%[171]