(於開曼群島註冊成立的有限公司) (股份代號: 00554) 二零二四年十一月二十一日舉行之 股東特別大會投票表決結果 茲提述漢思能源有限公司 Hans Energy Company Limited（「本公司」）日期為二零二四 年十月三十一日的通函（「通函」）及股東特別大會通告（「股東特別大會通告」）。 除文義另有所指外，本公告所用詞彙與通函所界定者具有相同涵義。 本公司董事會（「董事會」）宣佈，於二零二四年十一月二十一日舉行之本公司股東特 別大會（「股東特別大會」）上，載於股東特別大會通告所提呈之決議案均以投票方式 獲得股東通過。股東特別大會投票表決結果如下： 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，概不對因本公告全部或任何部份內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 HANS ENERGY COMPANY LIMITED 漢思能源有限公司 執行董事包括楊冬先生及李偉強先生及獨立非執行董事包括陳振偉先生及鍾澤文先生親 身出席股東特別大會。執行董事張雷先生、非執行董事 Nicolas Charles Phili ...

HANS ENERGY COMPANY LIMITED 漢思能源有限公司 (於開曼群島註冊成立的有限公司 ) (股份代號 : 00554) 董事名單及其角色與職能 漢思能源有限公司（「本公司」）董事會（「董事會」）成員載列如下 : Nicolas Charles Philippe DE MASCAREL DE LA CORBIERE先 生 James Anthony WILLIAMSON先生 獨 立 非 執 行 董事 陳振 偉 先生 鍾澤 文 先生 徐閔 女 士 董事 會 轄下 設 立三 個委 員 會。下表 提 供 董事 會 成員 在 該等 委員 會 中所 擔 任 的資 料 。 | 委 員會 | | 審核 | 提名 | 薪酬 | | --- | --- | --- | --- | --- | | 董事 | | 委員 會 | 委員 會 | 委員 會 | | 戴偉 | 先 生 | | | M | | 楊冬 | 先 生 | | | | | 張雷 | 先 生 | | | | | 李偉 強 | 先生 | | M | M | | Nicolas Charles Philippe | | | | | | DE MASCAR ...

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 對 因 本 公 告 全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責 任。 HANS ENERGY COMPANY LIMITED 漢思能源有限公司 （於 開 曼 群 島 註 冊 成 立 的 有 限 公 司） （股 份 代 號：00554） (I)委 任 獨 立 非 執 行 董 事； (II)董 事 委 員 會 組 成 變 動； 及 (III)遵守上市規則第3.10(1)條及第3.21條 本公告乃根據香港聯合交易所有限公司證券上市規則（「上市規則」）第13.51(2) 條 作 出。 漢思能源有限公司（「本公司」，連 同 其 附 屬 公 司 統 稱「本集團」）董事會（「董事會」） 欣 然 宣 佈，徐 閔 女 士（「徐女士」）已獲委任為本公司獨立非執行董事以及董事會 審核委員會（「審核委員會」）及薪酬委員會（「薪酬委員會」）成 員，自 二 零 二 四 年 十 月 三 十 一 日 起 生 效。 委任獨立非執行董事 徐 女 士 之 ...

HANS ENERGY COMPANY LIMITED 漢思能源有限公司 (Incorporated in the Cayman Islands with limited liability) （於開曼群島註冊成立的有限公司） （Stock Code 股份代號：00554） NOTIFICATION LETTER 通知信函 By order of the Board Hans Energy Company Limited Yang Dong Chief Executive Officer and Executive Director Notes: 各位非登記股東 （附註1） ： 31 October 2024 Dear Non-registered Shareholder(s) (Note 1), Hans Energy Company Limited (the "Company") – Notice of Publication of (1) Circular dated 31 October 2024; (2) Notice of Extraordinary General Meeting; and (3 ...

HANS ENERGY COMPANY LIMITED 漢思能源有限公司 (Incorporated in the Cayman Islands with limited liability) （於開曼群島註冊成立的有限公司） （Stock Code 股份代號：00554） NOTIFICATION LETTER 通知信函 31 October 2024 Dear Registered Shareholders, Hans Energy Company Limited (the "Company") – Notice of Publication of (1) Circular dated 31 October 2024; (2) Notice of Extraordinary General Meeting; and (3) Form of Proxy for the Extraordinary General Meeting (the "Current Corporate Communication") The English and Chinese versions of the Company's C ...

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通告的內容概不 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 對 因 本 通 告 全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責 任。 HANS ENERGY COMPANY LIMITED 漢思能源有限公司 （於 開 曼 群 島 註 冊 成 立 的 有 限 公 司） （股 份 代 號：00554） 股東特別大會通告 茲通告 漢思能源有限公司Hans Energy Company Limited（「本公司」）謹訂於二零二四 年十一月二十一日（星 期 四）下午二時正假座香港灣仔港灣道4號灣景國際2樓 宴會廳（1-2號 房）舉行股東特別大會（「股東特別大會」），藉 以 考 慮 並 酌 情 通 過（無 論 有 否 修 訂）下 列 決 議 案 為 本 公 司 特 別 決 議 案。 特別決議案 1. 「動 議 待 開 曼 群 島 公 司 註 冊 處 處 長 批 准 後，將 本 公 司 英 文 名 稱 由「Hans Energy Company Limited」更 改 為「Hans Group ...

閣下如 對本通函之任何方面或應採取之行動 有任何疑問，應諮詢 閣下之股票經紀 或其他註冊證券交易商、銀行經理、律師、專業會計師或其他專業顧問。 閣下如已 將名下 漢思能源有限公司（「本公司」）股份全部 售出或轉讓，應立即將本通 函 及 隨 附 之 代 表 委 任 表 格 送 交 買 主 或 承 讓 人，或 經 手 買 賣 或 轉 讓 之 銀 行、股 票 經 紀 或其他代理商，以便轉交買主或承讓人。 香港交易及結算所有限公司及香港聯合交易所有限公司（「聯交所」）對本通函之內容 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 通 函 全 部或任何部分內容而產生或因依賴該等內容而引致之任何損失承擔任何責任。 本 通 函 的 資 料 乃 遵 照 聯 交 所 證 券 上 市 規 則 而 刊 載，旨 在 提 供 有 關 本 公 司 的 資 料；本 公司董事（「董 事」）願 就 本 通 函 的 資 料 共 同 及 個 別 地 承 擔 全 部 責 任。各 董 事 在 作 出 一 切合理查詢後確認，就其所知及所信，本通函所載資料在各重大方面均屬準確完備 ...

Terminal Operations - The Group operates a liquid product terminal, Dongzhou Petrochemical Terminal, with a total storage capacity of approximately 260,000 cubic meters, including 180,000 cubic meters for gasoline and diesel [6]. - The Group is in the process of developing the second phase of Dongzhou Petrochemical Terminal, which includes the construction of liquefied natural gas (LNG) storage tanks on approximately 150,000 square meters of vacant land [7]. - The total land and coastal site area of Dongzhou Petrochemical Terminal exceeds 830,000 square meters [6]. - The application for the second phase development of the terminal is still in progress with local government approval pending [7]. - The Group aims to maximize shareholders' value by utilizing spare capacity from jetties and vacant land at the terminal [7]. Trading Business - The trading business focuses on expanding the customer base to end customers of filling stations, enhancing unit profit through key fuel supply agreements and brand management services [9]. - The Group's strategy includes prioritizing supply to filling stations to enhance profitability in the trading business [9]. - The trading business saw a significant increase, with the number of sales contracts rising by 114.7% to 541 and sales volume of oil and petrochemical products increasing by 58.0% to 109,000 metric tons during the first half of 2024 [18]. - Revenue from the sale of oil and petrochemical products was approximately $675.0 million, accounting for 91.1% of total revenue, with an increase of 81.3% year-on-year [21]. - The increase in trading revenue was attributed to a significant rise in the number of sales contracts and sales volume of oil and petrochemical products [22]. Financial Performance - For the six months ended June 30, 2024, the Group recorded total revenue of approximately $741.3 million, an increase of 65.7% compared to the same period last year [21]. - Terminal storage business revenue decreased by 12.1% to $63.6 million, primarily due to a decline in the leaseout rate of storage tanks [21]. - The gross profit margin decreased to 3.9%, down 6.2 percentage points from 10.1% in the previous year, despite the revenue increase [30]. - Direct costs and operating expenses rose to approximately $712.1 million, a 77.1% increase from $402.2 million in 2023, with inventory costs from oil and petrochemical products accounting for 94.2% of total direct costs [32]. - The Group reported a loss before interest and tax (LBIT) of approximately $6.5 million, a decline of 148.7% compared to EBIT of approximately $13.3 million in the same period last year [34]. Acquisition and Investments - The Group acquired approximately 54.44% of Bravo Transport Holdings Limited (BTHL) for approximately HK$2,722 million, increasing its total holdings to 70% [13]. - The Group completed the acquisition of BTHL on July 31, 2024, acquiring 70% of its total issued shares, expanding its core business into public transportation [23]. - The acquisition of BTHL is expected to consolidate its assets and liabilities into the Group, leading to new breakthroughs in financial performance and business prospects [28]. - The Group is confident in having adequate financial resources to meet future debt repayment and support working capital and expansion requirements [41]. Cash Flow and Liquidity - As of June 30, 2024, the Group's total cash and bank balances amounted to approximately $318.9 million, a decrease from $374.9 million as of December 31, 2023, primarily due to cash outflow from investing activities [40]. - The current ratio as of June 30, 2024 was 0.78, down from 2.38 as of December 31, 2023, mainly due to the reclassification of certain bank loans from long-term to short-term [40]. - The Group had outstanding bank and other loans of approximately $659.4 million as of June 30, 2024, with $612.6 million repayable within one year [40]. - The Group reported net current liabilities of HKD 173,924,000 as of June 30, 2024, indicating a need for careful cash flow management [75]. Shareholder Information - The directors do not recommend any interim dividend for the six months ended June 30, 2024 [62]. - The basic and diluted loss per share for the six months ended 30 June 2024 was $0.55 cent, compared to $0.11 cent for the same period in 2023 [40]. - The total equity of the Group as of 30 June 2024 was approximately $1,148.0 million, down from $1,233.1 million as of 31 December 2023 [40]. - The Group's total financing facilities rose to $762,600,000 as of June 30, 2024, compared to $574,443,000 as of December 31, 2023 [114]. Compliance and Governance - The Group's financial report is prepared in accordance with HKAS 34, ensuring compliance with relevant accounting standards [75]. - The interim financial report has been reviewed by KPMG, ensuring an additional layer of credibility to the financial information presented [75]. - The Group's interim financial report for the six months ended June 30, 2024, was reviewed by KPMG and complies with Hong Kong Accounting Standard 34 [150]. - All Directors have confirmed full compliance with the Model Code regarding securities transactions for the six months ended June 30, 2024 [194]. Employee and Management Information - As of June 30, 2024, the Group had a workforce of approximately 174 employees, with remuneration based on industry practices and individual performance [56]. - Key management personnel remuneration for the six months ended June 30, 2024, includes short-term employee benefits of HKD 4,817,000, a decrease from HKD 7,176,000 in 2023 [19]. - The remuneration for key management personnel includes post-employment benefits of HKD 90,000 for both 2024 and 2023 [19]. Segment Reporting - The Group operates through three reportable segments: Terminal Storage, Trading, and Other, with specific activities outlined for each segment [77]. - Total reportable segment revenue for the six months ended June 30, 2024, was $741,255,000, compared to $447,367,000 for the same period in 2023, reflecting a growth of approximately 65.7% [83]. - Reportable segment profit before taxation decreased to $7,427,000 in 2024 from $15,083,000 in 2023, indicating a decline of approximately 50.8% [86].

Financial Performance - Revenue for the six months ended June 30, 2024, was HKD 741,255,000, a 65.7% increase from HKD 447,367,000 in the same period of 2023[1] - Gross profit decreased to HKD 29,162,000 from HKD 45,171,000, representing a decline of 35.5% year-over-year[1] - The company reported a loss before tax of HKD 19,245,000, compared to a loss of HKD 2,599,000 in the previous year, indicating a significant deterioration in performance[1] - Total comprehensive loss for the period was HKD 85,032,000, compared to a comprehensive income of HKD 51,565,000 in the same period last year[2] - The reported segment profit before tax for the six months ended June 30, 2024, was 7,427 thousand HKD, down from 15,083 thousand HKD in 2023, indicating a decrease of 50.8%[10] - Interest income for the six months ended June 30, 2024, was 9,675 thousand HKD, compared to 2,807 thousand HKD in 2023, marking a significant increase of 245.5%[11] - The basic and diluted loss per share for the six months ended June 30, 2024, was (0.55) cents, compared to (0.11) cents for the same period in 2023[15] - The company incurred financial costs of 12,782 thousand HKD for the six months ended June 30, 2024, down from 15,866 thousand HKD in 2023, representing a decrease of 19.5%[12] - The company recorded a loss before interest and tax (LBIT) of approximately HKD 6.5 million, a decrease of 148.7% compared to a profit of HKD 13.3 million in the same period last year[38] - EBITDA for the six months was approximately HKD 20.9 million, a decrease of 48.3% from HKD 40.4 million in the previous year[38] Assets and Liabilities - Current liabilities exceeded current assets by HKD 173,924,000, reflecting a negative working capital position[3] - Non-current assets decreased to HKD 1,391,786,000 from HKD 1,307,383,000, indicating a reduction in long-term asset value[3] - The company’s cash and bank balances were HKD 318,920,000, down from HKD 374,862,000, showing a decline in liquidity[3] - The total assets for the reporting segments as of June 30, 2024, amounted to 957,651 thousand HKD, an increase from 932,613 thousand HKD as of December 31, 2023, reflecting a growth of 2.7%[9] - The total liabilities for the reporting segments as of June 30, 2024, were 717,086 thousand HKD, compared to 636,745 thousand HKD as of December 31, 2023, showing an increase of 12.6%[9] - As of June 30, 2024, the company's total assets were approximately HKD 20.2 billion, with a current ratio of 0.78, down from 2.38 at the end of the previous year[42] - The company’s total cash and bank balances decreased to approximately HKD 318.9 million, primarily due to cash outflows from investment activities[42] Trade and Receivables - Trade and other receivables increased significantly to HKD 151,999,000 from HKD 90,065,000, suggesting a rise in credit sales or delayed collections[3] - As of June 30, 2024, trade receivables aged within one month increased to HKD 19,040,000 from HKD 8,972,000 as of December 31, 2023, representing a 112.9% increase[18] - The total trade receivables, net of loss allowances, amounted to HKD 151,999,000 as of June 30, 2024, compared to HKD 90,065,000 as of December 31, 2023, indicating a 68.5% increase[18] Business Segments and Operations - The business is segmented into three reportable segments: Dock Storage, Trading, and Others, with no consolidation of operating segments[6] - Revenue from the sale of oil and petrochemical products accounted for 91.1% of total revenue, amounting to approximately 675.0 million HKD, an increase of 81.3% year-on-year[33] - Sales volume of oil and petrochemical products rose by 58.0% to 109,000 tons in the first half of 2024, up from 69,000 tons in the same period last year[31] - The number of sales contracts established in the trade business increased by 114.7% to 541 in the first half of 2024 compared to 252 in the same period of 2023[31] - The throughput of the terminal decreased by 4.1% to 1,410,000 tons in the first half of 2024 compared to 1,471,000 tons in the same period last year[30] Investments and Acquisitions - The company completed the acquisition of BTHL, holding 70% of its issued shares, which is expected to diversify its core business into public transportation[34] - The group has committed to business acquisitions amounting to HKD 2,547,045,000 as of June 30, 2024, with no prior commitments reported[24] - On July 31, 2024, the group paid HKD 325,000,000 as part of the acquisition of approximately 54.44% of the issued shares of Bravo Transport Holdings Limited (BTHL)[25] - Glorify acquired 54.44% of BTHL's issued shares for approximately HKD 2.72 billion (USD 348 million) on July 31, 2024[45] - Following the acquisition completion, Glorify holds 7,000 shares of BTHL, representing 70% of BTHL's issued shares[45] - The fair value loss recorded for the investment in BTHL was HKD 62 million for the period, compared to a gain of HKD 62 million for the six months ended June 30, 2023[45] Employee and Governance - The group has approximately 174 employees as of June 30, 2024, unchanged from December 31, 2023[49] - The board of directors currently has only two independent non-executive directors, below the minimum required number[63] - The company is actively seeking suitable candidates to appoint new independent non-executive directors within three months from July 31, 2024[63] - The company has complied with the standard code of conduct for securities trading by all directors during the reporting period[64] Dividends and Share Options - The group does not recommend any interim dividend for the six months ended June 30, 2024, consistent with the previous year[54] - The total number of unexercised share options under the 2012 Share Option Scheme that could potentially be issued is 711,427,600 shares, representing 18.0% of the total shares issued as of June 30, 2024[57] - The group has adopted a new share option scheme effective from May 31, 2023, which will be valid for ten years[56] - The 2023 stock option plan allows for a maximum of 395,663,800 shares, representing 10% of the issued share capital as of the plan's adoption date[59] - The 2023 stock award plan also allows for a maximum of 395,663,800 shares, which is 10% of the issued share capital at the time of adoption[61] - The 2019 stock award plan has been terminated, with 78,590,000 shares transferred to the 2023 stock award plan[60] Risk Management - The group does not foresee significant foreign exchange and price fluctuation risks, believing that no hedging instruments are necessary[48] - The group has not disclosed any significant foreign exchange and price risks other than those mentioned above[48] - As of June 30, 2024, the group has no significant contingent liabilities[52] Future Plans - The group plans to develop liquefied natural gas storage tanks and related facilities on approximately 150,000 square meters of vacant land at the Dongzhou Petrochemical Warehouse[27] - The group plans to continue diversifying its business while expanding into other sectors, including increasing investments in Bravo Transport Holdings Limited (BTHL) to enhance revenue sources[29] - The group has actively sought various development opportunities to broaden its revenue base and enhance business diversification[29] - The company plans to expand its bus services overseas and develop autonomous driving and smart mobility technologies in Hong Kong[34] Reporting and Compliance - The interim results for the six months ending June 30, 2024, will be published on the company's website and the Hong Kong Stock Exchange website[66] - The company will provide its 2024 interim report to shareholders upon request[66]

Terminal Operations - The Group operates a liquid product terminal, Dongzhou Petrochemical Terminal, with a total storage capacity of approximately 260,000 cubic meters, including 180,000 cubic meters for gasoline and diesel[13]. - The terminal is located in the Greater Bay Area, which enhances its attractiveness to customers for the distribution of refined oils and storage of hazardous materials[17]. - The Group is in the process of developing the second phase of the terminal, which includes the construction of liquefied natural gas storage tanks on approximately 150,000 square meters of vacant land[14]. - Revenue from the terminal storage business is generated through leasing storage tanks and handling charges for cargo movement, along with ancillary services such as tank cleaning[18]. - The terminal is fully licensed to handle a wide range of dangerous and hazardous goods, ensuring compliance with safety and environmental regulations[17]. - The terminal has 94 oil and petrochemical tanks, with specific capacities allocated for different types of petroleum products[13]. - The application for the second phase development has been submitted to the local government, with approval still in progress as of the reporting date[14]. - The Group's strategic location in Guangdong province positions it as a key player in the energy sector, attracting various customers including those with manufacturing plants[17]. - The terminal's management team is experienced and maintains high standards in safety and environmental protection[17]. Financial Performance - The Group recorded total revenue of approximately HK$948.5 million for the year ended December 31, 2023, representing a 36.5% increase compared to the previous year[41]. - Revenue from the sale of oil and petrochemical products was approximately HK$797.7 million, accounting for 84.1% of total revenue, with a growth of 46.7%[41]. - Terminal storage business revenue was approximately HK$145.5 million, accounting for 15.3% of total revenue, showing a slight decrease of 0.1%[41]. - Rental income from a filling station was approximately HK$5.3 million, accounting for 0.6% of total revenue, reflecting a decrease of 4.7%[41]. - The Group's revenue for 2023 was approximately $948.5 million, a 36.5% increase from $694.9 million in 2022, primarily driven by a 46.7% increase in sales of oil and petrochemical products[53]. - Direct costs and operating expenses rose to approximately $859.3 million, a 42.9% increase from $601.2 million in 2022, with inventory costs accounting for 90.3% of total direct costs[56]. - Gross profit decreased to approximately $89.2 million, down 4.7% from $93.6 million in 2022, resulting in a gross profit margin of 9.4%, a decline of 4.1 percentage points year-over-year[54]. - EBIT for 2023 was approximately $2.5 million, a significant decrease of 95.6% from $55.4 million in 2022, while EBITDA fell to $57.7 million, down 48.6% from $112.3 million[57]. - Finance costs decreased to approximately $31.7 million from $51.9 million in 2022, mainly due to a reduction in the average bank borrowing rate[58]. Operational Metrics - The average leaseout rate for oil and petrochemical tanks was 95.8% in 2023, a decrease of 1.7 percentage points from the previous year[24]. - Terminal throughput increased by 43.4% to 4,726,000 metric tons in 2023 compared to 3,295,000 metric tons in 2022[24]. - Port jetty throughput rose by 33.9% to 3,023,000 metric tons in 2023, up from 2,257,000 metric tons in 2022[24]. - The number of sale contracts entered in the trading business surged by 1,320.7% to 824 in 2023, compared to 58 in 2022[29]. - Sales volume of oil and petrochemical products increased by 61.2% to 187,000 metric tons in 2023 from 116,000 metric tons in 2022[29]. - The number of domestic vessels visited increased by 27.5% to 899 in 2023, while foreign vessels decreased by 7.2% to 64[24]. - The number of trucks serving to pick up cargoes rose by 60.1% to 66,470 in 2023, compared to 41,512 in 2022[24]. - Transshipment volume of oil increased by 65.7% to 90,421 metric tons in 2023, while petrochemicals decreased by 80.4% to 17,952 metric tons[24]. Strategic Initiatives - The Group aims to maximize shareholder value by utilizing spare capacity from jetties and vacant land at the terminal[14]. - The Group aims to enhance unit profit by expanding its customer base to include end customers of filling stations through key fuel supply agreements[28]. - The Group is actively seeking development opportunities to diversify its business and increase revenue sources[34]. - The Group plans to strengthen cooperation with major state-owned enterprises in Guangdong, aiming for operational volumes of gasoline, diesel, and fuel oil between 250,000 to 300,000 metric tons in 2024[45]. - The Group aims to maintain a storage tank leaseout rate of over 95% in 2024, targeting continuous growth in revenue and profits[45]. Investments and Acquisitions - The Group disposed of its limited partnership interest in Templewater I, L.P. to concentrate investments on local bus companies with strong cash flow[47]. - Future investments will prioritize projects with strong cash flow and promising prospects in the field of new energy[49]. - The Group's significant investments included unlisted equity securities and financial assets, with the latter representing a capital commitment of US$20 million in Templewater I, L.P.[89][90]. - The Limited Partnership Interest in Templewater included US$15.7 million of funded capital contribution and US$4.3 million of capital commitment yet to be funded[90]. - The Group's acquisition of Bravo Transport Holdings Limited (BTHL) involved a total consideration of HK$3,200 million, completed in October 2020[81]. Corporate Governance - The Company has been committed to high standards of corporate governance practices in compliance with the CG Code throughout the year[141]. - The Board has provided leadership and approved strategic policies to enhance shareholders' interests while delegating day-to-day operations to management[149]. - The Company regularly reviews its corporate governance practices to ensure compliance with the CG Code[142]. - The Company emphasizes a corporate culture built on accountability, transparency, fairness, and responsibility[144]. - The Company has a strong focus on risk management and internal control as part of its corporate governance framework[141]. - The Company is led by an effective Board that is collectively responsible for promoting its success[144]. - The Company has adopted written terms on the division of functions reserved to the Board and delegated to management[149]. - The Board comprises six members as of December 31, 2023, including three executive Directors and three independent non-executive Directors[156]. - The Audit Committee consists of three members, all of whom are independent non-executive Directors, ensuring appropriate financial management expertise[162]. - The Company has established formal procedures for the appointment and succession planning of Directors[167]. Employee and Remuneration Policies - As of December 31, 2023, the Group employed approximately 174 employees, an increase from 172 in 2022[102]. - The Group's remuneration policy includes a budget for total salary and bonus plans to encourage employee performance[102]. - The company encourages Directors to participate in training courses at the company's expense to ensure ongoing professional development[174]. Risk Management and Compliance - The Company has provided certain property, plant, and equipment as collateral for banking facilities granted[107]. - No material contingent liabilities were reported as of December 31, 2023[109]. - The company does not recommend any final dividend for the year ended December 31, 2023, consistent with the previous year[116]. - The company has provided several properties, factories, and equipment as collateral for bank financing[112]. - The Company Secretary provides advice and services to ensure compliance with applicable rules and regulations[151]. Future Outlook - The first hydrogen refueling station in Hong Kong was officially opened on November 30, 2023, supporting the operation of hydrogen buses[46]. - The Group will focus on research and development in hydrogen technologies, including production, storage, and refueling, to transition towards a balanced energy model[46].