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 ...

Financial Performance - Total revenue for the six months ended June 30, 2022, was HKD 44,578,000, a decrease of 34.8% compared to HKD 68,380,000 in the same period of 2021[9]. - Gross profit for the period was HKD 2,595,000, representing a gross margin of 5.8%[9]. - Operating loss for the six months was HKD 10,711,000, compared to an operating loss of HKD 2,666,000 in the prior year, indicating a significant increase in losses[9]. - The net loss attributable to the owners of the company for the period was HKD 11,622,000, compared to HKD 10,457,000 in the same period last year[12]. - The company reported a total comprehensive loss of HKD 11,752,000 for the six months ended June 30, 2022, compared to a total comprehensive loss of HKD 6,379,000 for the same period in 2021[17]. - The company reported a pre-tax loss of HKD 11,522 thousand for the six months ended June 30, 2022, compared to a loss of HKD 10,457 thousand in the previous year[31]. - The loss attributable to the company's owners increased by approximately 10.5% from about HKD 10.5 million in the previous period to about HKD 11.6 million in the current period[60]. - The company reported a basic and diluted loss per share of HKD 0.7 for the period, compared to HKD 1.0 in the previous year[9]. Revenue Breakdown - Customer contract revenue for the six months ended June 30, 2022, was HKD 43,297 thousand, a decrease of 36.7% from HKD 68,326 thousand in the same period of 2021[27]. - Telecommunications service revenue was HKD 43,297 thousand, down 36.7% from HKD 68,326 thousand year-on-year[31]. - Revenue from the telecommunications business fell by approximately 36.6% from about HKD 68,300,000 to about HKD 43,300,000, primarily due to a cautious pricing strategy and loss of several large contracts[75]. - The Hong Kong IT business generated revenue of approximately HKD 600,000, compared to about HKD 54,000 in the previous period, indicating growth since its launch[65]. Cash Flow and Assets - The company's cash and cash equivalents decreased to HKD 18,206,000 from HKD 30,663,000, reflecting a cash outflow during the period[15]. - Cash and cash equivalents decreased by HKD 12,398,000 during the six months ended June 30, 2022, compared to an increase of HKD 33,494,000 in the same period of 2021[20]. - The net cash used in operating activities was HKD 11,365,000 for the six months ended June 30, 2022, an improvement from HKD 19,493,000 in the prior year, reflecting a reduction of approximately 41.5%[20]. - The company had cash and cash equivalents of HKD 18,206,000 as of June 30, 2022, down from HKD 66,697,000 at the beginning of the year[20]. - Total assets as of June 30, 2022, were HKD 90,738,000, a slight decrease from HKD 95,409,000 as of December 31, 2021[15]. - Non-current assets in Hong Kong amounted to HKD 53,441 thousand as of June 30, 2022, slightly down from HKD 53,500 thousand at the end of 2021[33]. Liabilities and Equity - Current liabilities increased to HKD 29,872,000 from HKD 28,297,000, indicating a rise in short-term financial obligations[15]. - The company’s total equity attributable to owners decreased to HKD 54,962,000 as of June 30, 2022, from HKD 66,548,000 at the beginning of the year[17]. - The debt-to-asset ratio increased to approximately 10.4% from about 8.6% due to operating losses reducing net assets[81]. - Trade payables increased to HKD 8,457,000 as of June 30, 2022, compared to HKD 8,327,000 as of December 31, 2021[49]. Operational Challenges and Future Outlook - Future outlook remains cautious due to ongoing market challenges and operational losses[8]. - The company faced challenges due to the ongoing COVID-19 pandemic and geopolitical tensions, impacting operations primarily in Singapore and Hong Kong[57]. - The company plans to streamline operations by divesting underperforming business segments, particularly in the Chinese IT and distribution sector, which has not generated revenue since 2020[63]. - The company remains cautiously optimistic about overcoming challenges posed by COVID-19, as both Singapore and Hong Kong are gradually easing social restrictions[69]. Corporate Governance and Shareholder Information - The board of directors is committed to maintaining high standards of corporate governance, with a focus on shareholder value[104]. - The company did not recommend the payment of an interim dividend for the six months ended June 30, 2022, and 2021[40]. - As of June 30, 2022, the total trade payables amounted to HKD 8,457,000, compared to HKD 8,327,000 as of December 31, 2021, reflecting a slight increase of 1.56%[50]. - Beta Dynamic Limited owns over 50% of the company's issued share capital, qualifying it as the company's holding entity[90].

Financial Performance - The company's revenue increased by approximately 43.0% from HKD 72,376,000 in 2020 to HKD 103,513,000 in 2021[5] - The net loss for the year was HKD 21,973,000, compared to a profit of HKD 16,884,000 in the previous year[5] - The company's net asset value rose significantly from HKD 21,497,000 in 2020 to HKD 66,548,000 in 2021[5] - Cash and bank balances decreased from HKD 33,238,000 in 2020 to HKD 30,663,000 in 2021[5] - The group's revenue increased by approximately 43.0% from about HKD 72,400,000 last year to about HKD 103,500,000 this year[30] - Revenue from the telecommunications business rose by approximately 41.0% to about HKD 102,100,000, primarily due to greater contributions from wholesale voice telecommunications[30] - The group's gross profit decreased by approximately 17.2% to about HKD 4,800,000, with a gross profit margin dropping from about 7.9% to about 4.7%[30] - Other income and losses fell by approximately 65.2% to about HKD 14,500,000, mainly due to the absence of certain income recorded last year[31] - The group reported a loss attributable to owners of the company of about HKD 22,000,000, compared to a profit of about HKD 16,900,000 last year[33] - The group's net asset value increased to about HKD 66,500,000 from about HKD 21,500,000 last year, primarily due to funds raised from rights issues[35] - Total capital expenditure for the year was approximately HKD 24,000, compared to about HKD 200,000 last year[36] - The group's bank balances and cash decreased slightly to about HKD 30,700,000 from about HKD 33,200,000 last year[38] - The debt-to-asset ratio improved to approximately 8.6% from about 73.1% last year, mainly due to the increase in net assets from rights issues[39] Business Strategy and Development - The company completed the sale of its underperforming travel business during the year[12] - The company is actively seeking opportunities in the Technology, Media, and Telecommunications (TMT) sectors to enhance service offerings[12] - The company acquired a property holding company to generate stable rental income and benefit from long-term capital appreciation[12] - The company aims to diversify its business and seek new investment opportunities in e-commerce and TMT sectors[12] - The group expects to maintain telecommunications business development by leveraging existing infrastructure and operational resources, while regularly adjusting business strategies to seize new development opportunities[25] - The group anticipates challenges in business development due to COVID-19 restrictions affecting sales personnel and potential business partners[25] - The group aims to enhance its market share in Hong Kong by providing higher quality services than competitors[26] - The group will continue to streamline business processes and strictly control costs in response to uncertainties brought by the COVID-19 pandemic[25] Corporate Governance - Zhang Shaohui was appointed as the executive director and chairman on March 2, 2021, and has extensive experience in investment banking, previously holding senior positions at Merrill Lynch and Citigroup[46] - Xu Zhenwei joined as an executive director on March 2, 2021, with a background in structured investments and derivatives, having served as a managing director at BNP Paribas[47] - The company emphasizes high standards of corporate governance, with the chairman and CEO roles currently held by Zhang Shaohui until a suitable candidate is found[53] - The board is committed to reviewing the current management structure to ensure the separation of the chairman and CEO roles in the future[53] - The company has not reported any non-compliance with the Listing Rules regarding corporate governance codes during the year[53] - The board believes that having Zhang Shaohui serve as both chairman and acting CEO provides strong leadership and efficiency in decision-making[53] - The company has a focus on enhancing shareholder value and maintaining accountability to its shareholders[53] - The independent non-executive directors bring over 17 years of experience in audit and business consulting, contributing to the company's governance[49] - The company is actively seeking to appoint a qualified candidate for the CEO position to ensure effective leadership[53] - The board will continue to assess the management structure to align with the best interests of the company and its shareholders[53] - The board of directors consists of two executive directors and three independent non-executive directors, with a total of 17 board meetings held during the year[63] - Executive directors have service contracts with a specific term of three years, subject to re-election at the annual general meeting[58] - Independent non-executive directors are required to attend shareholder meetings to understand shareholder opinions comprehensively[55] - The company has adopted a board diversity policy to ensure a balanced mix of skills, expertise, and perspectives among board members[60] - The nomination committee reviews the board's structure and diversity policy annually to assess its effectiveness and propose necessary changes[61] - All directors confirmed compliance with the standard code of conduct for securities trading during the year ended December 31, 2021[56] - The company has a policy that at least one-third of the directors must retire by rotation at the annual general meeting[59] - The attendance record for board meetings shows that the chairman attended 16 out of 17 meetings, while other directors had varying attendance rates[65] - The company emphasizes the importance of gender balance in the board composition as part of its diversity goals[60] - The board is responsible for setting the overall strategy and monitoring the group's operational and financial performance[66] - The company appointed new directors and provided them with immediate onboarding training to ensure they understand the business and regulatory responsibilities[68] - The Audit Committee, composed entirely of independent non-executive directors, held two meetings during the year to review the financial performance and internal controls[76] - The Remuneration Committee held three meetings to determine the remuneration framework and budget for directors and senior management for the year ending December 31, 2022[79] - The company encourages directors to participate in external training, with costs covered by the company, ensuring continuous professional development[68] - The company has established three permanent committees: the Audit Committee, the Remuneration Committee, and the Nomination Committee, each with specific responsibilities[74] - The Remuneration Committee provided recommendations on the remuneration of newly appointed directors to the Board[79] - The company maintains a high level of compliance with financial reporting regulations through the participation of independent non-executive directors[71] - The company’s governance practices include regular training and development for all directors to enhance their skills and knowledge[68] - The Nomination Committee was established on December 9, 2011, primarily composed of independent non-executive directors, with a focus on evaluating and recruiting new board members[83] - The Nomination Committee held three meetings this year to review the board's structure, size, and composition, and to assess the independence of non-executive directors[83] - The attendance record for the Nomination Committee meetings shows that all members attended their respective meetings, with Zhang Shaohui attending 2 out of 2 meetings[85] Risk Management and Internal Controls - The internal control mechanism aims to provide reasonable assurance regarding the reliability of financial reporting and compliance with applicable laws and regulations[107] - The company has not identified any significant risks based on the risk assessment conducted during the year[106] - The internal control consultant submitted a report on the effectiveness of the internal control and risk management mechanisms to the audit committee and the board in March 2022[111] - The company has established a mechanism for handling insider information to ensure the accuracy and timeliness of disclosures[110] - The board is responsible for maintaining the internal control mechanisms and reviewing their effectiveness[106] - The company has not established an internal audit function but relies on an internal control consultant for assessments[111] - The internal control mechanism includes risk identification, assessment, management, monitoring environment, and communication[108] - The company has a policy in place to prevent violations of disclosure regulations related to insider information[110] - The board believes that the risk management and internal control mechanisms of the group are effectively executed and sufficient, with ongoing reviews to adapt to changing business environments[112] 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[123] - The ESG report includes quantitative data and key performance indicators (KPIs) that provide a balanced overview of the group's overall ESG performance[123] - The group focuses on improving data collection systems and expanding disclosure scope, particularly regarding greenhouse gas emissions and climate change awareness[122] - The board aims to integrate ESG considerations into business decision-making processes and regularly review progress towards ESG-related goals[117] - The group has been recognized for reducing waste in its operations, receiving the "Waste Reduction Certificate - Excellence Level" for seven consecutive years[121] - The ESG report covers the group's main operating companies in Hong Kong and Singapore, emphasizing their overall performance in environmental and social aspects[115] - The board is responsible for overseeing ESG matters, including assessing and determining significant ESG-related issues and risks[116] - The group encourages cross-departmental collaboration to address sustainability issues and create long-term value for stakeholders[118] - Stakeholders are invited to provide feedback on the ESG policies and performance to help improve the group's ESG outcomes[124] - The company reported a total greenhouse gas emissions of 17.18 tons CO2 equivalent for the year, an increase of 5.7% compared to 16.26 tons in the previous year[130] - The electricity consumption-related indirect emissions (Scope 2) rose by 11.9% to 15.68 tons from 14.01 tons[133] - The company generated no hazardous waste during the year, maintaining a consistent record of 0 kg for both the current and previous year[136] - The company aims to keep greenhouse gas emissions at levels similar to those of the current year in 2022[142] - The company has implemented various energy-saving measures to reduce electricity consumption, which is the primary source of its emissions[141] - The density of greenhouse gas emissions per employee increased to 0.75 tons from 0.68 tons in the previous year[130] - The company has set a goal to maintain the generation of non-hazardous waste at the lowest possible level in future years[139] - The company actively encourages the use of electronic documents to reduce paper usage[130] - The company has established effective communication channels with stakeholders to address their concerns and expectations[125] - The company has received no significant non-compliance issues regarding emissions and environmental regulations during the year[128] - The group's energy consumption in 2021 was 22,083 kWh, an increase from 17,291 kWh in 2020, with a density of 74.28 kWh per square meter[150] - The energy consumption per employee rose to 960.13 kWh in 2021 from 720.46 kWh in 2020, attributed to the gradual return to normal office operations in Hong Kong[150] - The group aims to maintain energy consumption at a level similar to 2021 in 2022, focusing on reducing electricity usage through various measures[153] - The group has implemented several energy efficiency measures, including encouraging employees to turn off lights and equipment when not in use[157] - The group has not encountered any issues in obtaining suitable water sources during the year[155] - The group has not used significant amounts of packaging materials due to the nature of its business[156] - The group has complied with all relevant environmental regulations in Hong Kong and Singapore, with no significant non-compliance issues reported[158] Human Resources and Employment Practices - The group has established a fair recruitment and promotion policy, ensuring compliance with equal employment opportunity laws[165] - The group provides competitive salaries and benefits, including medical and dental allowances, maternity leave, and training support[165] - There were no non-compliance cases related to employment laws and regulations during the year[167] - The total number of employees as of December 31, 2021, was 23, a decrease from 24 in 2020, with 100% being full-time employees[169] - The employee turnover rate for the year was 73.9%, up from 62.5% in 2020, with 17 employees leaving the company[174] - The percentage of trained employees was 30.8% for males and 10.0% for females, with a total training hours of 115.8 hours for the year[183] - The company provided various health and safety measures during the COVID-19 pandemic, including masks and hand sanitizers for all employees[182] - The company strictly adheres to labor laws and regulations, ensuring all employees are protected under relevant employment acts in Hong Kong and Singapore[184] - The company has not reported any significant non-compliance issues related to labor rights and laws during the year[187] - The company has implemented a series of internal policies to safeguard employee rights and welfare[184] - The employee turnover rate by age group showed a 125% turnover for ages 26-35 and 120% for ages 36-45[175] - The company has a focus on maintaining a safe working environment, with no reported major safety hazards during the year[178] - The company encourages continuous professional development, offering reimbursement for external training courses to enhance employee skills[181] Supplier and Data Management - The number of suppliers listed by region for the year 2021 is as follows: Singapore 56, Hong Kong 13, Malaysia 2, Thailand 2, Bulgaria 1, Myanmar 1, New Zealand 1, Switzerland 1, totaling 77 suppliers[189] - The company emphasizes good communication and efficient cooperation with suppliers to enhance trust and improve the ability to obtain environmentally friendly products[190] - The company has not identified any significant environmental or social risks posed by its suppliers and is committed to providing quality services while complying with relevant laws and regulations[190] - There were no major intellectual property issues discovered during the year, and the company is taking necessary actions to comply with all relevant regulations[192] - The company has implemented strict data protection measures, including software for data protection and restricted access to databases to prevent unauthorized access to customer data[195] - A total of 381 and 366 complaints were handled and resolved during the year, with remaining complaints still under processing at year-end[197] - The company has established a comprehensive internal control system and strict anti-corruption policies to prevent and monitor any misconduct or unethical behavior[198] - The company has complied with the Personal Data (Privacy) Ordinance in Hong Kong and has not discovered any incidents of customer personal data theft, alteration, damage, or leakage during the year[196] - The company is committed to hiring suppliers that focus on reducing carbon emissions in their operations[191] - The company has implemented measures to prevent corruption and enhance employee awareness regarding anti-corruption policies[200]

中期報告 2021 Great Wall Terroir Holdings Limited 長城天下控股有限公司 （股份代號：���） （於百慕達註冊成立之有限公司） （前稱Great Wall Belt & Road Holdings Limited 長城一帶一路控股有限公司） Interim Report 2021 Great Wall Terroir Holdings Limited 目錄 | 公司資料 | 2 | | --- | --- | | 簡明綜合損益表 | 3 | | 簡明綜合損益及其他全面收益表 | 4 | | 簡明綜合財務狀況表 | 5 | | 簡明綜合權益變動表 | 6 | | 簡明綜合現金流量表 | 7 | | 簡明綜合財務報表附註 | 8 | | 業務回顧及前景 | 23 | | 財務回顧 | 26 | | 附加資料 | 29 | 01 長城天下控股有限公司 二零二一年中期報告 目錄 公司資料 董事會 執行董事 張少輝 （主席兼代理行政總裁） （自二零二一年三月二日起獲委任為 主席兼代理行政總裁） 許振威 （自二零二一年三月二日起獲委任） 長城天下控股有限公司 (Stock Code ...

Great Wall Belt & Road Holdings Limited 長城一帶一路控股有限公司 (於百慕達註冊成立之有限公司) (股份代號：524) 2020 年 報 年 報 2020 長城一帶一路控股有限公司 Great Wall Belt & Road Holdings Limited 長城一帶一路控股有限公司 香港銅鑼灣 告士打道262號 中糧大廈 16樓1602室 電話： +852 2522 3800 傳真： +852 2111 2665 網址： www.gwbrhk.com 目錄 | 公司資料 | 2 | | --- | --- | | 財務摘要 | 3 | | 主席報告書 | 4 | | 業務回顧 | 5 | | 財務回顧 | 7 | | 董事會 | 10 | | 企業管治報告 | 12 | | 董事會報告書 | 23 | | 獨立核數師報告書 | 32 | | 綜合損益表 | 36 | | 綜合損益及其他全面收益表 | 38 | | 綜合財務狀況表 | 39 | | 綜合權益變動表 | 41 | | 綜合現金流量表 | 42 | | 綜合財務報表附註 | 44 | | 本集團業績、資產 ...