Financial Performance - Revenue for the fiscal year 2024 was HKD 81,212,000, a decrease of 8.3% from HKD 89,075,000 in 2023[6]. - The net loss for the fiscal year 2024 was HKD 25,650,000, improved from a loss of HKD 35,253,000 in 2023, representing a reduction of 27.3%[6]. - The net asset value decreased significantly to HKD 1,039,000 from HKD 27,584,000 in the previous year, indicating a decline of 96.2%[10]. - Cash and bank balances were reported at HKD 5,848,000, down from HKD 6,121,000 in 2023, a decrease of 4.5%[10]. - Overall revenue decreased by approximately 8.9% from about HKD 89,100,000 to about HKD 81,200,000[18]. - Loss attributable to owners decreased by approximately 27.2% from about HKD 35,300,000 to about HKD 25,700,000[18]. - The group's gross profit slightly increased by about 2.0% from approximately HKD 5,100,000 to about HKD 5,200,000, with the overall gross profit margin rising from about 5.7% to approximately 6.4%[27]. - The group's financial expenses increased by approximately HKD 1,400,000 from about HKD 500,000 to approximately HKD 1,900,000, mainly due to increased interest on loans from a director[29]. - The debt-to-asset ratio rose to approximately 3,655.6% as of December 31, 2024, compared to about 53.3% in 2023, primarily due to an increase in loans from a director and operating losses[33]. Revenue Sources - Revenue from China increased by approximately 27.1% from about HKD 19,200,000 to about HKD 24,400,000[17]. - Revenue from Singapore rose by approximately 11.5% from about HKD 48,000,000 to about HKD 53,500,000[17]. - Telecommunications business revenue decreased by approximately 9.0% from about HKD 86,700,000 to about HKD 78,900,000[19]. - GPS service revenue increased by approximately 27.1% from about HKD 19,200,000 to about HKD 24,400,000[19]. - IT services revenue decreased by approximately 50.0% from about HKD 1,000,000 to about HKD 500,000[20]. - Revenue from the wine e-commerce platform Winestry was approximately HKD 500,000, with over 540 stock-keeping units available[21]. Strategic Initiatives - The company is diversifying its telecommunications revenue base by expanding GPS services in China, which is expected to stabilize revenue streams[12]. - A new IT service related to software development for corporate clients is anticipated to start generating revenue in Q1 2025[13]. - The company aims to enhance service quality and operational efficiency to achieve sustainable growth and long-term profitability[13]. - The company plans to expand its existing IT business in China, focusing on software development and application services to meet the growing demand for IT services[25]. Market Conditions - The telecommunications market in Hong Kong and Singapore remains highly competitive, impacting the company's performance[16]. - The overall economic environment remains challenging, with rising unemployment and inflation pressures affecting business operations[16]. - IMF forecasts global GDP growth of approximately 3.3% for 2025, with various regional growth predictions reflecting economic uncertainties[24]. Corporate Governance - The company has not appointed a CEO since the resignation of Ms. Li Bing on November 9, 2020, and Mr. Zhang has been serving as both Chairman and Acting CEO since March 2, 2021[46]. - Mr. Zhang's dual role is believed to provide strong leadership and enhance the effectiveness and efficiency of business decision-making and strategy execution[46]. - The company is committed to maintaining high levels of corporate governance and prioritizing shareholder interests[46]. - The board will continue to review the current management structure and will nominate suitable candidates for the roles of Chairman and CEO when identified[46]. - The company aims to enhance long-term shareholder value through effective governance practices[46]. - The board believes that the current structure aligns with the best interests of the company and its shareholders at this stage[46]. - The company has adopted the standard code of conduct for securities trading as per the listing rules, ensuring compliance among all directors[47]. - The company has a commitment to transparency and has taken steps to address any compliance issues promptly[47]. Board Composition and Meetings - The board consists of two executive directors and three independent non-executive directors, with a focus on diversity and skill balance[52]. - As of December 31, 2024, the board includes five directors, one of whom is female, aligning with diversity regulations[54]. - The board held six meetings during the year, ensuring informed decision-making through adequate information provision[57]. - The Audit Committee held two meetings this year, reviewing the financial performance for the year ending December 31, 2023, and the interim results for the six months ending June 30, 2024[66]. - The Remuneration Committee conducted three meetings this year, approving the remuneration budget for the board of directors[69]. - The Nomination Committee held two meetings this year, assessing the independence of independent non-executive directors and reviewing the board's structure and composition[72]. Risk Management and Internal Controls - The board is responsible for maintaining the internal control system and risk management, ensuring reasonable assurance against material misstatements or losses[101]. - The internal control system aims to achieve operational efficiency, reliable financial reporting, and compliance with applicable laws and regulations[102]. - The risk management system includes identifying risks, assessing their likelihood and impact, and managing responses to ensure effective communication with the board[103]. - No significant risks were identified during the annual risk assessment, except for previously disclosed non-compliance with listing rules[101]. - The board believes that the risk management and internal control system is effective and sufficient, and will continue to review its effectiveness regularly[106]. Environmental, Social, and Governance (ESG) Initiatives - The company has established an ESG policy to ensure compliance with applicable laws and to integrate ESG considerations into business decision-making[111]. - The ESG report covers the group's performance in environmental and social aspects across major operations in Hong Kong, Singapore, and China[108]. - The board is committed to high standards of ESG performance and regularly reviews progress towards achieving ESG-related goals[111]. - The company reported a total greenhouse gas emissions of 22.76 tons of CO2 equivalent for the year, an increase of 17.6% compared to 19.35 tons in the previous year[126][128]. - The company has successfully implemented all applicable mandatory measures for the Hong Kong Green Organization Certification and reported related achievements[118]. - The company has maintained its commitment to reducing waste, achieving the "Waste Reduction Certificate - Excellence Level" for ten consecutive years[115]. - The group has implemented various energy efficiency measures to reduce electricity consumption, including encouraging employees to turn off lights and equipment when not in use[150]. Employee Relations and Compliance - The company has maintained compliance with all relevant employment and labor laws, with no significant non-compliance issues reported this year[164]. - Employee benefits include competitive salaries, medical and dental allowances, and paid maternity leave, aimed at attracting and retaining talent[162]. - The company has implemented a two-way communication policy, allowing employees to express concerns and communicate with management through various channels[161]. - The company has not reported any health and safety compliance issues in the past three years, ensuring a safe working environment[177]. - The company conducts objective assessments of employee performance to inform promotions and salary adjustments, ensuring fairness in employment practices[162]. - The company has established a fair recruitment and promotion policy, strictly prohibiting discrimination and harassment in the workplace[162].

Financial Performance - The group's revenue for the year ended December 31, 2024, was approximately HKD 81,200,000, a decrease of about 8.9% compared to HKD 89,100,000 for the year ended December 31, 2023[3] - The loss attributable to the company's owners for the year ended December 31, 2024, was approximately HKD 25,700,000, a reduction of about 27.2% from HKD 35,300,000 for the year ended December 31, 2023[3] - The total comprehensive loss for the year was HKD 26,545,000, compared to HKD 35,283,000 in the previous year[6] - The group's gross profit for the year was HKD 5,169,000, slightly up from HKD 5,063,000 in the previous year[5] - The overall revenue for the group decreased to HKD 81,212,000 in 2024 from HKD 89,075,000 in 2023, indicating a decrease of approximately 8.8%[20] - The company reported a basic and diluted loss per share of HKD 13.0 for the year ended December 31, 2024, compared to HKD 17.9 in the previous year[5] - Basic loss per share for 2024 was HKD 0.13, based on a loss attributable to owners of approximately HKD 25,650,000, compared to HKD 35,253,000 in 2023[33] - The group reported a net loss of HKD 5,340,000 for the year, an improvement from a loss of HKD 7,986,000 in the previous year[28] Revenue Breakdown - The total revenue for the telecommunications services segment decreased to HKD 78,871,000 in 2024 from HKD 86,683,000 in 2023, representing a decline of approximately 9.3%[20] - The total revenue for the information technology business segment decreased to HKD 997,000 in 2024 from HKD 1,048,000 in 2023, reflecting a decline of about 4.9%[20] - Revenue from China increased significantly by approximately 27.1% from about HKD 19,200,000 to about HKD 24,400,000[45] - Revenue from Singapore rose by approximately 11.5% from about HKD 48,000,000 to about HKD 53,500,000[47] - Revenue from Hong Kong plummeted by approximately 84.9% from about HKD 21,900,000 to about HKD 3,300,000[47] - Telecommunications business revenue decreased by approximately 9.0% from about HKD 86,700,000 to about HKD 78,900,000[50] - GPS service revenue increased by approximately 27.1% from about HKD 19,200,000 to about HKD 24,400,000[50] - IT services revenue dropped by approximately 50.0% from about HKD 1,000,000 to about HKD 500,000[52] Assets and Liabilities - The group's total assets less current liabilities amounted to HKD 4,387,000 as of December 31, 2024, down from HKD 33,000,000 in the previous year[9] - The company's current liabilities exceeded current assets by HKD 42,949,000 as of December 31, 2024[8] - The total assets of the group decreased to HKD 67,082,000 in 2024 from HKD 73,614,000 in 2023, a reduction of approximately 8.9%[24] - The total liabilities of the group increased to HKD (66,043,000) in 2024 from HKD (46,030,000) in 2023, representing an increase of about 43.5%[24] - The debt-to-asset ratio increased to approximately 3,655.6% as of December 31, 2024, compared to about 53.3% in the previous year, primarily due to an increase in loans from a director and operating losses[69] Operational Strategies - The company plans to enhance measures to improve operational funding and cash flow, including close monitoring of administrative expenses and operating costs[14] - The company is seeking additional financial support, including loans or issuing additional equity or bonds[14] - The group aims to enhance operational efficiency and shareholder value through targeted measures and prudent strategies in response to expected business growth[59] - The group plans to allocate resources to establish a base for providing IT services in China, anticipating rapid growth in demand for related services[60] Dividends and Shareholder Information - The board did not recommend the payment of a final dividend for the year ended December 31, 2024[3] - The company did not recommend any dividends for the years ending December 31, 2024, and 2023[32] - The board of directors includes two executive directors and three independent non-executive directors[95] Employee and Operational Costs - The total employee cost for the year was approximately HKD 13,600,000, down from approximately HKD 14,500,000 in 2023, with 26 employees hired as of December 31, 2024, compared to 28 in the previous year[76] - The pre-tax loss for the year was impacted by total employee costs of HKD 13,610,000, down from HKD 14,499,000 in the previous year[30] Financial Reporting Standards - The group has applied new Hong Kong Financial Reporting Standards, which did not have a significant impact on the financial position and performance for the current and prior years[15] - The group is currently assessing the detailed impact of the new Hong Kong Financial Reporting Standard No. 18 on its consolidated financial statements[18] - The group has not early adopted any new Hong Kong Financial Reporting Standards that have been issued but are not yet effective[16]

Great Wall Terroir 長 域 天 下 Great Wall Terroir Holdings Limited 長城天下控股有限公司 您移讀成之攔公司 t8ftx : z p // 中期報告 2024 減廢證書 WastewiSe —Certificate los FSC 目錄 目錄 公司資料 | --- | |------------------------------| | | | 簡明綜合損益表 | | 簡明綜合損益及其他全面收益表 | | 簡明綜合財務狀況表 | | 簡明綜合權益變動表 | | 簡明綜合現金流量表 | | 簡明綜合財務報表附註 | | 業務回顧及前景 | | 財務回顧 | | 附加資料 | 2 3 4 5 6 7 8 20 23 25 01 長城天下控股有限公司 二零二四年中期報告 公司資料 公司資料 | --- | --- | |------------------------------------------------|------------------------------------------------------------------------- ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部 分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。 Great Wall Terroir Holdings Limited 長城天下控股有限公司 （股份代號：524） （於百慕達註冊成立之有限公司） 截至二零二四年六月三十日止六個月 中期業績 長城天下控股有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然宣佈本公司及其 附屬公司截至二零二四年六月三十日止六個月之未經審核綜合業績。 | --- | --- | |-------|--------------------------------------------------------------------| | | | | | 財務摘要： | | • | 收益約為 36,900,000 港元（二零二三年：約 41,700,000 港元）。 | | • | 毛利約為 2,600,000 港元（二零二三年：約 2,400,000 港元）。 | | • | 本期間歸屬於本公司擁有人之虧損約為 10, ...

Financial Performance - The company reported revenue of HKD 89,075,000 for the year 2023, a decrease of 1.6% from HKD 90,537,000 in 2022[6]. - The net loss for the year 2023 was HKD 35,253,000, compared to a loss of HKD 20,171,000 in 2022, indicating a significant increase in losses[6]. - The company's net asset value decreased to HKD 27,584,000 in 2023 from HKD 62,867,000 in 2022, reflecting a decline of approximately 56%[6]. - Cash and bank balances fell to HKD 6,121,000 in 2023 from HKD 18,031,000 in 2022, a decrease of about 66%[6]. - The company's revenue decreased by approximately 1.5% from about HKD 90,500,000 in the previous year to about HKD 89,100,000 this year[20]. - The loss attributable to the company's owners increased by approximately 52.2% from about HKD 23,200,000 in the previous year to about HKD 35,300,000 this year[21]. - The telecommunications business recorded revenue of approximately HKD 86,700,000, a decrease of about 1.6% from approximately HKD 88,100,000 in the previous year[23]. - The group recorded a net loss of approximately HKD 8,000,000 this year, compared to a net loss of approximately HKD 3,300,000 in the previous year[40]. - Operating and administrative expenses increased by approximately 37.9% from about HKD 21,900,000 to about HKD 30,200,000, mainly due to increased employee costs and consulting fees[40]. Business Development and Strategy - The company is focusing on developing IT expertise and has launched a new online shopping platform for wine, aiming to create new revenue streams[12][13]. - The company plans to expand its telecommunications services in China, capitalizing on the high demand for innovative and high-tech services supported by the Chinese government[13]. - The company has introduced a GPS mobile connectivity solution in the automotive market in China, anticipating stable revenue growth from this new service[13]. - The online wine shopping platform, Winestry, is expected to grow in popularity and revenue over the coming years, with various wine suppliers participating[16]. - The company is actively exploring new business opportunities and investment prospects to diversify its revenue sources and mitigate risks[16]. - The management team is committed to enhancing competitiveness and maximizing shareholder value through resource integration and business development[16]. Corporate Governance - The board consists of two executive directors and three independent non-executive directors, ensuring a diverse governance structure[63]. - The company has adopted a board diversity policy to enhance the skills, expertise, and perspectives of its members, aiming for gender equality in the board composition[67]. - The chairman and acting CEO roles are currently held by the same individual, with plans to separate these roles once a suitable candidate is found[58]. - The company has confirmed compliance with the standard code of conduct for securities trading by all directors throughout the year[60]. - The board is committed to maintaining high standards of corporate governance to maximize shareholder value[58]. - The independent non-executive directors have no significant relationships that could affect their independence[64]. - The company has not appointed a CEO since the resignation of the previous one in November 2020, indicating a transitional leadership phase[58]. - The board will continue to review its management structure to ensure effective leadership and decision-making[58]. - The company has established measurable targets for implementing its board diversity policy, considering various factors such as gender, age, and professional experience[67]. - The independent non-executive directors serve without fixed terms, allowing for flexibility in governance[66]. Employee and Workforce Management - The company had a total of 28 employees as of December 31, 2023, with approximately 61% (17) being male and 39% (11) being female[71]. - The employee distribution by age group shows that 60% of employees were aged 18-25 in 2022[200]. - The employee distribution by gender indicates a balanced workforce, with 61% male and 39% female employees in 2023[199]. - The company provided various paid leave options for employees, including statutory holidays, maternity leave, and annual leave[196]. - The company continues to focus on employee development and encourages discussions regarding career goals and expectations[194]. - The total number of employees categorized by job level shows a significant portion in senior management roles[199]. - The company has maintained a consistent approach to employee benefits and support, reflecting its commitment to workforce welfare[198]. Environmental, Social, and Governance (ESG) Initiatives - The group has successfully implemented all applicable mandatory measures for the Hong Kong Green Organization Certification and reported related achievements[146]. - The group focuses on improving data collection systems and expanding disclosure scope regarding greenhouse gas emissions and climate change awareness[146]. - The group aims to achieve high standards of ESG performance and comply with all applicable legal requirements in the markets where it operates[139]. - The board is committed to integrating ESG considerations into business decision-making processes and regularly reviewing progress towards ESG-related goals[139]. - The group has been recognized with the "Waste Reduction Certificate - Excellence Level" for nine consecutive years, reflecting its commitment to reducing waste in operations[144]. - The group has engaged a third-party consulting firm to prepare the ESG report to ensure objectivity and comprehensive performance disclosure[136]. - The ESG report includes key performance indicators (KPIs) and quantitative data related to the group's business operations and ESG management[137]. - The group recognizes the importance of environmental protection and community engagement as both a moral responsibility and a business imperative[143]. Risk Management and Internal Controls - The group has implemented a comprehensive internal control mechanism and strict anti-corruption policies to prevent and monitor misconduct[124]. - The internal control consultant will submit a report on the effectiveness of the group's internal control and risk management mechanisms by March 2024[133]. - The group has not identified any significant risks based on the risk assessment conducted during the year[128]. - The internal control mechanism aims to ensure operational efficiency, reliability of financial reporting, and compliance with applicable laws and regulations[129]. - The group has established a whistleblowing policy to provide employees with guidance and channels to report misconduct without fear of retaliation[126]. - The board has reviewed the effectiveness of the internal control mechanism and has not identified any significant control deficiencies[132]. - The group is committed to maintaining its corporate ethics and reputation while combating corruption[124]. - The company has not established an internal audit function but relies on an internal control consultant for risk management reviews[133]. - The board believes that the risk management and internal control mechanisms of the group are effectively executed and sufficient, complying with relevant codes[134].

Financial Performance - The group's revenue for the year ended December 31, 2023, was approximately HKD 89,100,000, a decrease of about 1.5% compared to HKD 90,500,000 for the year ended December 31, 2022[3]. - The loss attributable to the owners of the company for the year ended December 31, 2023, was approximately HKD 35,300,000, an increase of about 52.2% from HKD 23,200,000 for the year ended December 31, 2022[3]. - The total comprehensive loss for the year ended December 31, 2023, was HKD 35,283,000, compared to HKD 20,261,000 for the year ended December 31, 2022[8]. - The group reported a gross profit of HKD 5,063,000 for the year ended December 31, 2023, compared to HKD 5,479,000 for the year ended December 31, 2022[5]. - The group reported a total pre-tax loss of HKD 35,060,000 in 2023, compared to a pre-tax loss of HKD 19,989,000 in 2022, reflecting a significant increase in losses[23]. - The company reported a pre-tax loss of approximately HKD 35,253,000 for the year 2023, compared to a loss of HKD 23,202,000 in 2022, reflecting an increase in losses of about 51.5%[34]. - The group recorded a net loss of approximately HKD 8,000,000 this year, compared to a net loss of about HKD 3,300,000 in the previous year, mainly due to impairment losses on underperforming assets[69]. - The company's basic and diluted loss per share for the year ended December 31, 2023, was HKD 17.9, compared to HKD 14.4 for the year ended December 31, 2022[6]. Revenue Breakdown - Total revenue for the telecommunications services segment decreased to HKD 86,683,000 in 2023 from HKD 88,087,000 in 2022, representing a decline of approximately 1.6%[20]. - The information technology business revenue also saw a decrease, falling to HKD 1,048,000 in 2023 from HKD 1,106,000 in 2022, a decline of about 5.2%[20]. - The total customer contract revenue for the group was HKD 87,731,000 in 2023, down from HKD 89,193,000 in 2022, indicating a decrease of approximately 1.6%[20]. - Revenue from external customers in Hong Kong for the telecommunications services segment decreased to HKD 19,516,000 in 2023 from HKD 27,325,000 in 2022, a decline of approximately 28.5%[26]. - Revenue from Singapore for the telecommunications services segment decreased to HKD 47,953,000 in 2023 from HKD 60,762,000 in 2022, a decline of about 21%[26]. - Major customers contributing over 10% of revenue included Customer A with HKD 20,038,000 in 2023, down from HKD 24,681,000 in 2022, a decrease of approximately 18.5%[27]. - The telecommunications business recorded revenue of approximately HKD 86,700,000, a decrease of about 1.6% from approximately HKD 88,100,000 in the previous year[50]. - The company generated approximately HKD 19,200,000 in revenue from GPS services this year[52]. - The company recorded approximately HKD 5,900,000 in revenue from the trial of SMS wholesale services this year[53]. - The IT services segment generated approximately HKD 1,000,000 in revenue, a decrease of about 9.1% from approximately HKD 1,100,000 in the previous year[55]. - Revenue from the electronic store renovation contracts increased by approximately 100.0% from about HKD 200,000 in the previous year to approximately HKD 400,000 this year[55]. Dividends and Shareholder Returns - The board of directors did not recommend the payment of a final dividend for the year ended December 31, 2023[3]. - The company did not recommend any dividends for the years ending December 31, 2023, and 2022[33]. - The board expressed gratitude to shareholders and business partners for their continued support[100]. Assets and Liabilities - The group's current liabilities exceeded its current assets by approximately HKD 19,540,000 as of December 31, 2023[10]. - The total assets less current liabilities amounted to HKD 33,000,000 as of December 31, 2023, down from HKD 64,910,000 in the previous year[10]. - The total assets of the group increased to HKD 73,614,000 in 2023 from HKD 87,607,000 in 2022, showing a decrease of approximately 16%[24]. - The total liabilities rose to HKD 46,030,000 in 2023 from HKD 24,740,000 in 2022, indicating an increase of about 86%[24]. - As of December 31, 2023, the group's net asset value decreased to approximately HKD 27,600,000 from HKD 62,900,000 in 2022, primarily due to operating losses[72]. - The group's cash and bank balances decreased to approximately HKD 6,100,000 from HKD 18,000,000, mainly due to a net cash outflow of approximately HKD 27,100,000 from operating activities[74]. - The debt-to-asset ratio, calculated as the percentage of loans from former directors and bank loans to net assets, was approximately 53.3%, compared to 9.1% in 2022[75]. - As of December 31, 2023, the group had bank loans amounting to HKD 9,000,000, which was not present in 2022[75]. Operational Measures and Future Plans - The group plans to enhance and implement measures aimed at improving operational funding and cash flow, including closely monitoring general administrative expenses and operating costs[16]. - The company is seeking additional financial support, including but not limited to borrowing, issuing additional equity, or bonds[16]. - The group aims to diversify its business and seek new opportunities to enhance shareholder returns[66]. - The group plans to invest more resources in system enhancements and product supply to improve customer experience on the platform[65]. Employee Costs and Expenses - The company's employee costs totaled HKD 14,499,000 in 2023, up from HKD 13,068,000 in 2022, which is an increase of about 10.9%[30]. - The group’s operating and administrative expenses increased by approximately 37.9% from about HKD 21,900,000 to about HKD 30,200,000 due to higher director remuneration and employee costs[71]. - The total employee cost for the year was approximately HKD 14,500,000, an increase from about HKD 13,100,000 in the previous year, with 28 employees as of December 31, 2023[83]. Audit and Compliance - The independent auditor confirmed that the consolidated financial statements fairly present the financial position and performance of the group as of December 31, 2023[94]. - The audit committee, along with external auditors, reviewed the consolidated financial statements and found them to be prepared in accordance with applicable accounting standards[90]. - There were no significant post-reporting date events that required disclosure[91]. - The annual report containing all information required by the listing rules will be published on the stock exchange and the company's website[99]. Market Conditions - Singapore's GDP growth for the year was 1.1%, down from 3.8% in the previous year[48]. - The inflation rate in Singapore for 2023 was 4.8%, reflecting a broad slowdown in the prices of goods and services[45]. - The number of inbound travelers in Singapore exceeded 1 million per month since February 2023, following the lifting of COVID-19 restrictions[45]. - The global GDP growth is projected to slow from 3.0% in 2023 to 2.9% in 2024, with various geopolitical risks potentially impacting recovery[60].

Financial Performance - Total revenue for the six months ended June 30, 2023, was HKD 41,659,000, a decrease of 6.5% compared to HKD 44,578,000 in the same period of 2022[8]. - The gross profit for the period was HKD 2,373,000, down from HKD 2,595,000, reflecting a decline of 8.5%[8]. - The company reported a loss attributable to owners of the company of HKD 12,893,000, compared to a loss of HKD 11,622,000 in the previous year, representing an increase in loss of 10.9%[11]. - Basic and diluted loss per share was HKD 6.5, slightly improved from HKD 7.3 in the same period last year[8]. - The company reported a net loss of approximately HKD 12,893,000 for the six months ended June 30, 2023[23]. - The group reported a total segment loss before tax of HKD 12,794,000, compared to a loss of HKD 11,522,000 in the same period last year[29]. - The group reported a net loss of HKD 287,000 from other income, compared to a loss of HKD 2,337,000 in the same period last year[33]. - The loss attributable to the company's owners increased by approximately 11.2% from about HKD 11,600,000 to approximately HKD 12,900,000[62]. Revenue Breakdown - Telecommunications service revenue was HKD 40,292,000, down 6.9% from HKD 43,297,000 year-on-year[29]. - Information technology business revenue increased to HKD 695,000, up 14.1% from HKD 609,000 in the previous year[29]. - Revenue from Singapore decreased to HKD 22,214,000, down 24.0% from HKD 29,247,000 in the previous year[31]. - The group recorded revenue of approximately HKD 5,000,000 from GPS services during the period, expanding its service offerings in the telecommunications sector[65]. - The group generated approximately HKD 3,400,000 in revenue from SMS wholesale business, capitalizing on the growing demand for SMS services[66]. - Revenue from the telecommunications business fell by approximately 6.9% from about HKD 43,300,000 to about HKD 40,300,000, primarily due to a decline in retail and wholesale voice telecommunications services[63]. - Revenue from the information technology business increased by approximately 16.7% from about HKD 600,000 to approximately HKD 700,000, driven by the establishment of strong customer relationships[67]. Expenses and Liabilities - Operating and administrative expenses increased to HKD 14,524,000 from HKD 10,892,000, marking a rise of 33.5%[8]. - The company's total liabilities increased to HKD 408,696,000 as of June 30, 2023, compared to HKD 372,601,000 as of June 30, 2022, representing an increase of 9.7%[23]. - Trade payables rose to HKD 11,131,000 as of June 30, 2023, from HKD 4,200,000 as of December 31, 2022, marking an increase of approximately 164.5%[46]. - The company’s total liabilities increased to HKD 32,236,000 as of June 30, 2023, compared to HKD 21,591,000 as of December 31, 2022, representing a growth of about 49.3%[46]. - Employee costs totaled HKD 6,935,000, an increase of 14.4% from HKD 6,059,000 in the previous year[34]. Assets and Equity - The company's total assets decreased to HKD 57,091,000 from HKD 64,910,000, a decline of 12.1%[13]. - The net asset value dropped to HKD 49,951,000 from HKD 62,867,000, reflecting a decrease of 20.6%[13]. - The company's total equity as of June 30, 2023, was HKD 49,951,000, down from HKD 66,548,000 as of June 30, 2022, reflecting a decrease of 25.0%[23]. - As of June 30, 2023, the group's net assets were approximately HKD 50,000,000, down from about HKD 62,900,000 as of December 31, 2022[82]. Cash Flow and Investments - As of June 30, 2023, the company's cash and cash equivalents decreased to HKD 12,265,000 from HKD 18,206,000 as of June 30, 2022, representing a decline of 32.5%[17]. - The net cash used in operating activities was HKD 13,551,000 for the six months ended June 30, 2023, compared to HKD 11,365,000 for the same period in 2022, indicating an increase of 19.3%[17]. - The company reported cash inflows from investing activities of HKD 8,965,000 for the six months ended June 30, 2023, compared to HKD 186,000 in the same period of 2022[17]. - The company’s financing activities resulted in a net cash outflow of HKD 1,116,000 for the six months ended June 30, 2023[17]. Future Outlook and Challenges - The global economic recovery remains uncertain due to ongoing geopolitical conflicts and tightening monetary policies in major economies, impacting corporate investment activities[60]. - The company anticipates challenges in the business environment due to rising borrowing costs and cautious consumer spending as a result of increased interest rates[60]. - The economic outlook for Singapore and Hong Kong in the second half of 2023 remains uncertain, with Singapore's GDP growth forecasted at only 0.5% to 2.5%[73]. - The company is closely monitoring the impact of external economic factors on its operations and future performance[60]. Corporate Governance and Shareholding - The company has a stock option plan that allows for the issuance of up to 15,754,200 options, representing 8% of the issued share capital as of the report date[105]. - The board of directors is committed to maintaining high standards of corporate governance, with a focus on shareholder value[108]. - The chairman and acting CEO roles are currently held by the same individual, which the board believes provides strong leadership during this transitional phase[108]. - Beta Dynamic Limited, controlled by Zhang Shaohui, owns over 50% of the company's issued share capital, making it the holding company[94]. - The company’s ownership structure indicates a strong control by Zhang Shaohui through Beta Dynamic Limited, which is crucial for strategic decision-making[94].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部 分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。 Great Wall Terroir Holdings Limited 長城天下控股有限公司 （於百慕達註冊成立之有限公司） 524 （股份代號： ） 截至二零二三年六月三十日止六個月 中期業績 長城天下控股有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然宣佈本公司及其 附屬公司截至二零二三年六月三十日止六個月之未經審核綜合業績。 財務摘要： • 41,700,000 44,600,000 收益約為 港元（二零二二年：約 港元）。 • 2,400,000 2,600,000 ...

Financial Performance - Revenue for the year 2022 was HKD 90,537,000, a decrease of 12.5% from HKD 103,513,000 in 2021[5] - Net loss for the year 2022 was HKD 20,171,000, slightly improved from a loss of HKD 21,973,000 in 2021[5] - Net asset value decreased to HKD 62,867,000 in 2022 from HKD 66,548,000 in 2021[5] - Bank balances and cash decreased to HKD 18,031,000 in 2022 from HKD 30,663,000 in 2021[5] - The overall revenue of the group decreased by approximately 12.6% from about HKD 103,500,000 in the previous year to about HKD 90,500,000 this year[19] - The telecommunications business recorded revenue of approximately HKD 88,100,000, a decrease of about 13.7% from approximately HKD 102,100,000 in the previous year, primarily due to a decline in wholesale voice telecommunications service revenue[22] - The loss attributable to the owners of the company increased by approximately 5.5% from about HKD 22,000,000 in the previous year to about HKD 23,200,000 this year[20] - The group's revenue decreased by approximately 12.6% from about HKD 103,500,000 in the previous year to about HKD 90,500,000 this year[35] - Revenue from the telecommunications business fell by approximately 13.7% to about HKD 88,100,000, primarily due to a cautious pricing strategy and the loss of several large contracts[35] - The group's gross profit increased by approximately 14.6% to about HKD 5,500,000, with the overall gross profit margin rising from about 4.7% to approximately 6.1%[35] - The group recorded a net loss of approximately HKD 3,300,000 this year, compared to a net income of about HKD 14,500,000 in the previous year[36] - The group's operating and administrative expenses decreased by approximately 29.8% to about HKD 21,900,000, mainly due to fewer corporate actions and reduced legal and professional fees[36] - The net asset value of the group as of December 31, 2022, was approximately HKD 62,900,000, down from about HKD 66,500,000 in the previous year[40] - The group completed a rights issue in November 2022, raising approximately HKD 16,500,000 after expenses, with about HKD 6,200,000 allocated to repay a director's loan[41] - The group's cash and bank balances decreased to approximately HKD 18,000,000 from about HKD 30,700,000 in the previous year[41] Business Strategy and Development - The company is developing an e-commerce platform for wine trading, expected to start operations in the first half of 2023[13] - The company has streamlined its business by selling underperforming IT and distribution operations in China[13] - The company aims to seek new business opportunities that can provide stable returns compared to its telecommunications business[13] - The company is prepared to seize opportunities in the post-COVID-19 era as social and economic activities return to normal in Singapore and Hong Kong[14] - The group plans to cease further investments in the Chinese information technology and distribution business following the sale of its subsidiary, Stage Charm Limited, on December 16, 2022[27] - The group is focusing on maintaining existing businesses and exploring new products to enhance its market position in Singapore and Hong Kong[32] - The group is developing a platform for online wine trading, with operations slightly delayed to Q2 2023 due to challenges in recruiting skilled IT personnel[32] Corporate Governance - The company has adopted a board diversity policy to enhance the skills, expertise, and perspectives of its board members, aiming for gender equality as the ultimate goal[64] - The board consists of three executive directors and three independent non-executive directors, ensuring a balanced governance structure[60] - The chairman and acting CEO roles are currently held by the same individual, which the board believes provides strong leadership and effective decision-making until a suitable candidate is found[56] - The company has confirmed compliance with the corporate governance code and has not identified any significant non-compliance issues during the year[56] - The nomination committee reviews the board's structure and diversity policy annually to ensure its effectiveness and alignment with the company's strategic goals[65] - The independent non-executive directors have specific terms of three years, ensuring a rotation and fresh perspectives on the board[63] - The company has maintained a high level of corporate governance, prioritizing shareholder interests and long-term value[56] - The chairman was unable to attend the annual general meeting due to other business commitments but reviewed all relevant documents prior to the meeting[57] - The company has established measurable targets for board diversity, considering various factors such as gender, age, and professional experience[64] - The board will continue to assess its current management structure and will nominate suitable candidates for the CEO position when identified[56] - The board is responsible for setting the overall strategy and monitoring the company's operational and financial performance[72] - The board's governance responsibilities include reviewing compliance with legal and regulatory requirements and monitoring the training and development of directors[96] Internal Control and Risk Management - The company has established a comprehensive internal control mechanism and strict anti-corruption policies to prevent and monitor misconduct[115] - The internal control mechanism aims to ensure operational efficiency, reliability of financial reporting, and compliance with applicable laws and regulations[121] - The board of directors is responsible for maintaining the internal control mechanism and risk management, with no significant risks identified during the annual risk assessment[120] - The company has not established an internal audit function but has appointed an internal control consultant to review the effectiveness of risk management and internal control mechanisms[124] - The board believes that the risk management and internal control mechanisms are effective and sufficient, and will continue to review their effectiveness in response to changing business environments[125] - The company has implemented a whistleblowing policy to provide employees with guidance and channels to report misconduct without fear of retaliation[117] - The internal control consultant submitted a report on the effectiveness of the internal control and risk management mechanisms to the audit committee and board in March 2023[124] - The company has adopted and implemented insider information policies to ensure the authenticity, accuracy, completeness, and timeliness of disclosures[123] - The board reviews the internal control mechanism's effectiveness annually and reports the results to the board[125] Environmental, Social, and Governance (ESG) Initiatives - The company has achieved the "Waste Reduction Certificate - Excellence Level" for eight consecutive years, recognizing its efforts in waste reduction[134] - The company has successfully implemented all applicable mandatory measures of the Hong Kong Green Organization Certification and reported related achievements[136] - The ESG report focuses on improving data collection systems and expanding disclosure scope, particularly regarding greenhouse gas emissions and climate change awareness[135] - The board is committed to integrating ESG considerations into business decision-making processes and regularly reviewing progress towards ESG-related goals[131] - The company aims to create long-term value for stakeholders while addressing sustainability issues through cross-departmental collaboration[132] - Stakeholder feedback is welcomed to improve ESG performance, with various communication channels established for engagement[137] - The company emphasizes compliance with environmental laws and regulations in its operations across different countries[139] - The ESG report includes quantitative data and key performance indicators (KPIs) to provide a balanced overview of the company's overall ESG performance[136] - The company recognizes the importance of environmental protection and community engagement as both a moral responsibility and a business imperative[132] - The report outlines the main stakeholders and their concerns, including business development plans, financial stability, and corporate governance[138] - The company reported a total greenhouse gas emissions of 12.87 tons of CO2 equivalent in the current year, a decrease of 25.1% compared to 17.18 tons in the previous year[143][146]. - The indirect emissions from purchased electricity decreased by 25.7%, from 15.68 tons to 11.65 tons[146]. - The company maintained zero hazardous waste generation for the current year, consistent with the previous year[149]. - The total energy consumption for the current year was 16,411 kWh, down from 22,083 kWh in 2010, with a density of 47.77 kWh per square meter[164]. - The company aims to keep greenhouse gas emissions at a level similar to that of the current year for 2023[154]. - The density of greenhouse gas emissions per employee decreased from 0.75 tons to 0.51 tons of CO2 equivalent[143]. - The company has implemented various energy-saving measures to reduce electricity consumption in office operations[167]. - The company has set a target to maintain the generation of non-hazardous waste at the lowest level possible in future years[152]. - The company actively promotes the use of electronic documents to reduce paper usage[143]. Employee Management and Diversity - The total number of employees as of December 31, 2022, is 25, an increase from 23 in 2021, with 100% being full-time employees[183] - The employee turnover rate for the year is 12.5%, significantly lower than 73.9% in 2021, with 3 employees leaving the company[188] - The company has implemented energy-saving measures, including encouraging employees to turn off lights and equipment when not in use[36] - The company has adhered to all relevant employment and labor laws, with no significant non-compliance issues reported during the year[181] - The company has established a fair compensation distribution principle based on performance and efficiency, with annual salary evaluations to maintain competitiveness[176] - The company has a commitment to sustainable development activities, ensuring compliance with environmental regulations and reporting on environmental KPIs[172] - The company has taken measures to mitigate climate-related risks, including emergency plans for extreme weather events, with no significant impact reported[173] - The company provides various employee benefits, including medical and dental allowances, annual health check subsidies, and paid maternity leave[179] - The company promotes a diverse and fair recruitment process, strictly enforcing anti-discrimination policies[179] - The company has a dual communication policy allowing employees to express concerns and communicate with management through various channels[178] - Employee turnover rate for males is 7.1% and for females is 20.0%[189] - The turnover rate for employees aged 36-45 is 36.4%[189] - Total training hours for employees this year amounted to 91.5 hours[197] - Percentage of trained employees: 26.7% for males and 10.0% for females[197] - Average training hours for male employees is 4.2 hours, while for female employees it is 2.8 hours[197] - Senior management training hours average 2.4, while middle management averages 9.9 hours[197] - The company has implemented COVID-19 preventive measures to ensure employee health[192] - No reported cases of workplace fatalities or significant safety hazards this year[190] - The company strictly adheres to labor laws and regulations in Hong Kong and Singapore[198] - The company prohibits the use of child labor and forced labor[200]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部 分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。 Great Wall Terroir Holdings Limited 長城天下控股有限公司 （於百慕達註冊成立之有限公司） 524 （股份代號： ） 截至二零二二年十二月三十一日止年度 經審核全年業績 本年度摘要 • 90,500,000 本集團於截至二零二二年十二月三十一日止年度之收益約為 港 103,500,000 元，較截至二零二一年十二月三十一日止年度約 港元減少約 12.6% 。 • 截至二零二二年十二月三十一日止年度歸屬於本公司擁有人之虧損約為 ...