Financial Performance - For the six months ended December 31, 2021, the company reported a revenue of HK$8,256,000, a decrease from HK$29,175,000 in the same period of 2020, representing a decline of approximately 71.7%[10] - The gross loss for the period was HK$22,668,000, compared to a gross profit of HK$5,197,000 in the previous year, indicating a significant deterioration in profitability[10] - The total comprehensive loss for the period was HK$82,063,000, which includes a loss attributable to owners of the company of HK$72,346,000[12] - The loss per share attributable to owners of the company was HK(0.46) cent, compared to HK(0.16) cent in the prior year, reflecting a worsening financial performance[12] - The company reported a comprehensive loss for the period of HK$82,063,000, compared to a loss of HK$72,346,000 in the previous period[22] - The company reported a loss before taxation of HK$72,544,000 for the period, highlighting ongoing financial difficulties[128] - The loss attributable to owners of the Company for the six months ended 31 December 2021 was HK$72,346,000, compared to HK$24,444,000 for the same period in 2020[181] - The loss from continuing operations for the six months ended 31 December 2021 was HK$72,346,000, compared to HK$22,114,000 for the same period in 2020[181] Assets and Liabilities - As of December 31, 2021, total non-current assets amounted to HK$383,235,000, down from HK$460,658,000 as of June 30, 2021, indicating a decrease of approximately 16.8%[14] - Current assets totaled HK$469,271,000, a decrease from HK$539,796,000 in the previous period, representing a decline of about 13.0%[14] - The company's total current liabilities were HK$78,523,000, down from HK$142,279,000, showing a reduction of approximately 44.8%[14] - Net current assets stood at HK$390,748,000, slightly down from HK$397,517,000, indicating a marginal decrease of about 1.9%[14] - As of December 31, 2021, the net assets of the company were HK$720,846,000, a decrease from HK$802,909,000 as of June 30, 2021, representing a decline of approximately 10.2%[17] - The total non-current liabilities amounted to HK$52,960,000, slightly down from HK$55,266,000 as of June 30, 2021, indicating a reduction of about 4.2%[17] - The consolidated total assets as of December 31, 2021, were HK$852,506,000, down from HK$1,000,454,000 as of June 30, 2021[138] - Total segment liabilities amounted to HK$131,660,000, a decrease from HK$197,545,000 in the previous period[138] Cash Flow - For the six months ended December 31, 2021, the company generated net cash from operating activities of HK$58,197,000, compared to a cash outflow of HK$13,123,000 in the same period of 2020[26] - The company reported a net decrease in cash and cash equivalents of HK$148,853,000 for the six months ended December 31, 2021, compared to a decrease of HK$19,586,000 in the prior year[26] - Cash and cash equivalents at the end of the period were HK$200,543,000, down from HK$337,264,000 at the end of December 2020, reflecting a decline of approximately 40.5%[26] Segment Information - The Group has four reportable segments: hotel hospitality, money lending services, trading and distribution of liquor and wine, and investments in listed securities and funds[124] - Total segment revenue for the six months ended December 31, 2021, was HK$29,175,000, a significant increase from HK$13,156,000 in the same period of 2020[128] - The hotel hospitality business reported a segment revenue of HK$8,256,000, while the money lending services generated HK$1,629,000[128] - The liquor and wine segment experienced a revenue of HK$18,951,000, indicating a substantial growth compared to previous periods[128] - Total segment loss for the six months was HK$61,128,000, compared to a loss of HK$5,764,000 in the prior year[128] - Unallocated corporate income and expenses netted a loss of HK$9,915,000, contributing to the overall financial performance[128] Accounting Policies and Standards - The company has not adopted any new HKFRSs that have been issued but are not yet effective, maintaining consistency in accounting policies[31] - The Group adopted new/revised Hong Kong Financial Reporting Standards (HKFRSs) effective from July 1, 2021, with no significant impact on the condensed consolidated financial statements[37] - The Group's financial reporting is aligned with the latest HKFRSs to ensure compliance and accuracy in financial statements[40] - The amendments to HKAS 1 clarify that the classification of liabilities as current or non-current is based on rights existing at the end of the reporting period[79] - The amendments to HKFRS Practice Statement 2 provide guidance on applying the concept of materiality to accounting policy disclosures[81] - Companies are required to disclose significant accounting policy information rather than just the significant accounting policies themselves, enhancing transparency[88] Other Financial Information - The company received bank interest income of HK$191,000 during the reporting period[26] - The company received government grants totaling HK$3,663,000, which supported its business operations without any unfulfilled conditions[148] - The total tax credit for the period was HK$198,000, compared to HK$533,000 in the previous year, indicating a reduction in tax benefits[169] - The company did not recommend any interim dividend for the six months ended December 31, 2021, consistent with the previous year[177] - The basic loss per share for the six months ended 31 December 2021 was calculated based on a weighted average number of ordinary shares of 15,695,532[187] - The diluted loss per share was not presented due to the anti-dilutive effect of share options and convertible preference shares[188]

德泰新能源集團有限公司 DeTai New Energy Group Limited (Incorporated in Bermuda with limited liability) (於百慕達註冊成立之有限公司) (香港聯合交易所上市編號 | HK Stock code : 559) 2021 ANNUAL REPORT 年 報 Contents 目錄 Corporate Information 公司資料 2 | --- | --- | --- | |------------------------------------------------|-----------------------|-------| | | | | | Chairman's Statement | 主席報告 | | | Management Discussion and Analysis | 管理層討論及分析 | | | Biographical Details of Directors and | 董事及高級管理層 履歷 | | | Senior Management | | | | Corporate Governance ...

Revenue and Income - Revenue for the six months ended December 31, 2020, was HK$10,013,000, a decrease from HK$28,107,000 in the same period of 2019, representing a decline of approximately 64.4%[8] - Total comprehensive income for the period was HK$6,525,000, a decrease from HK$11,181,000 in the previous year, reflecting a decline of approximately 41.5%[10] - For the six months ended December 31, 2020, total revenue was HK$13,156,000, a decrease of 53% compared to HK$28,107,000 for the same period in 2019[107] - Service income from the hotel hospitality business was HK$10,013,000, down 36% from HK$15,615,000 in the previous year[108] - Interest income from money lending services decreased by 72% to HK$2,381,000 from HK$8,599,000 year-over-year[108] - Trading income from the new energy business, specifically liquor and wine, was HK$379,000, a significant drop from HK$2,170,000 in the prior year[108] Losses and Financial Performance - Loss for the period was HK$25,903,000, compared to a loss of HK$4,251,000 in the prior year, indicating a significant increase in losses[10] - Loss per share for the period was HK(0.16) cent, compared to HK(0.01) cent in the same period last year, highlighting a deterioration in earnings per share[10] - The total segment loss before taxation for the period was HK$26,436,000, with unallocated corporate expenses amounting to HK$10,063,000[116] - The company reported an impairment loss on loans receivable of HK$3,320,000 during the period[116] - For the six months ended December 31, 2020, the Group reported a loss attributable to owners of the Company amounting to HK$24,444,000[150] Assets and Liabilities - Total non-current assets as of December 31, 2020, amounted to HK$516,063,000, an increase from HK$59,244,000 as of June 30, 2020[15] - Current assets totaled HK$542,647,000, reflecting a significant increase compared to previous periods[15] - Current liabilities were HK$208,131,000, up from HK$43,976,000, indicating a rise in short-term obligations[15] - Net current assets decreased to HK$334,516, down from HK$473,318 as of June 30, 2020, representing a decline of approximately 29.4%[16] - Total assets less current liabilities decreased to HK$850,579 from HK$975,785, a reduction of about 12.8%[16] - Non-current liabilities increased significantly to HK$243,522 from HK$120,012, marking an increase of approximately 102.6%[16] Cash Flow and Operating Activities - Net cash used in operating activities was HK$13,123, compared to a cash generation of HK$2,106 in the same period last year[25] - Cash and cash equivalents at the end of the period were HK$337,264, down from HK$375,202, indicating a decrease of about 10.1%[25] - The company experienced a net cash outflow from the acquisition of a subsidiary, amounting to HK$554[25] - The effect of foreign exchange rate changes resulted in a net increase of HK$2,809 in cash and cash equivalents[25] Financial Reporting and Standards - The unaudited condensed consolidated interim financial statements for the six months ended December 31, 2020, have been prepared in accordance with HKAS 34 and applicable disclosure requirements[29] - The Group's financial statements are based on historical cost, except for investment properties and certain financial instruments measured at fair value[30] - The Group has not early adopted any new HKFRSs that have been issued but are not yet effective, ensuring consistency with the previous year's accounting policies[30] - The adoption of new/revised HKFRSs has had no material impact on the Group's financial statements[36] - The Group's financial reporting practices remain aligned with the latest standards, ensuring compliance and accuracy[30] Segment Information - The company has five reportable segments, including hotel hospitality, money lending, new energy, liquor and wine trading, and investments in funds[112] - Segment assets as of December 31, 2020, totaled HK$1,058,710,000, with the hotel hospitality business accounting for HK$432,307,000[125] - The liabilities for the new energy business were reported at HK$192,373,000, contributing to the overall segment liabilities of HK$273,489,000[125] - The share of loss of an associate was HK$4,680,000, reflecting challenges in the investment segment[116] Impairment and Provisions - The impairment loss recognized for the six months ended December 31, 2020, was HK$3,320,000, significantly higher than HK$366,000 for the same period in 2019, indicating a substantial increase in credit risk[193] - The total provision for impairment loss increased to HK$179,838,000 as of December 31, 2020, compared to HK$168,401,000 as of June 30, 2020, reflecting a rise of approximately 6.5%[195] - The Group's provision for impairment loss on trade receivables was HK$2,063,000 as of December 31, 2020, compared to HK$2,058,000 as of June 30, 2020[185] Other Income and Expenses - The Group's total other income and gains for the six months ended December 31, 2020, was HK$3,772,000, a decrease from HK$8,239,000 in the same period of 2019[132] - Total finance costs for the six months ended December 31, 2020, were HK$1,140,000, an increase from HK$901,000 in the same period of 2019, reflecting a rise of approximately 26.5%[139] - Depreciation expenses for owned assets were HK$3,744,000 for the six months ended December 31, 2020, compared to HK$3,465,000 in 2019, indicating an increase of about 8.1%[141] Taxation and Dividends - The Group did not recommend the payment of any interim dividend for the six months ended December 31, 2020, consistent with the previous year[148] - No provision for Hong Kong profits tax has been made for the current and prior periods as the Group has no assessable profits arising in Hong Kong[147] - The subsidiaries established in the PRC are subject to enterprise income tax at a rate of 25%, but no provision has been made as there are no assessable profits[147] Future Outlook - The Group's management expects future performance improvements based on past performance and market development expectations[169]

Financial Performance - The net loss for the year ended June 30, 2020, attributable to shareholders was approximately HK$163.5 million, compared to HK$155.0 million in 2019, representing an increase of about 3.2%[7] - The Group recorded a revenue of approximately HK$48.9 million for the year ended June 30, 2020, down from approximately HK$62.9 million in 2019, representing a decrease of about 22.4%[10] - The net loss for the year was approximately HK$167.6 million, slightly improved from a loss of approximately HK$168.9 million in 2019, with a loss attributable to owners of the Company of approximately HK$163.5 million[10] - The hotel hospitality business generated revenue of approximately HK$31.5 million, a decrease from HK$33.2 million in 2019, with a segment loss of approximately HK$135.3 million, up from HK$6.8 million in 2019[7] - The liquor and wine business achieved revenue of approximately HK$2.5 million, up from HK$0.9 million in 2019, and recorded a segment profit of approximately HK$3.1 million, compared to a segment loss of HK$3.1 million in 2019[7] Business Segments - Interest income from loans receivable was approximately HK$12.9 million, down from HK$22.3 million in 2019, with a segment loss of approximately HK$5.3 million, significantly reduced from HK$106.5 million in 2019[7] - The new energy business reported revenue of approximately HK$2.1 million, down from HK$6.4 million in 2019, with a segment loss of approximately HK$11.6 million, improved from HK$29.9 million in 2019[7] - The hotel hospitality business contributed approximately 64.3% of the Group's total revenue for the year ended June 30, 2020[13] Loans and Receivables - The Group's loans receivable amounted to approximately HK$201.8 million as of June 30, 2020, down from approximately HK$219.9 million in 2019[26] - Interest income from loans receivable was approximately HK$12.9 million for the year ended June 30, 2020, compared to approximately HK$22.3 million in 2019, indicating a decrease of about 42.5%[26] - The money lending business recorded a segment loss of approximately HK$5.3 million, significantly reduced from a loss of approximately HK$106.5 million in 2019, primarily due to a decrease in impairment loss on loans receivable[27] - The expected credit loss (ECL) rates for loans receivable ranged from 9% to 100%, depending on the nature and probability of default[31] Impairment and Valuation - Impairment losses recognized for the hotel hospitality business totaled approximately HK$125.6 million, mainly related to goodwill, freehold land, and buildings[10] - The key assumptions for the value-in-use approach included a perpetual growth rate of 2% and a pre-tax discount rate of 17.62% for 2020[24] - The management engaged an independent valuer to assess the recoverable amount of the cash generating unit of the new energy business as of 30 June 2020, using a pre-tax discount rate of 26%[56] COVID-19 Impact - The COVID-19 pandemic has severely impacted the hotel hospitality business, which is among the hardest hit sectors globally[67] - The Japanese Government's border enforcement measures in response to COVID-19 resulted in a significant decline in the number of tourists from Japan in 2020[67] Corporate Governance - The Company has complied with the Corporate Governance Code during the year ended June 30, 2020, with some deviations noted[127] - The roles of chairman and chief executive are not separated, as the Company currently lacks a Chief Executive Officer since March 2020[127] - The Company emphasizes effective internal control and accountability to enhance shareholder value[127] - The Board has established three committees: the Remuneration Committee, the Nomination Committee, and the Audit Committee, each with defined written terms of reference[135] Shareholder Relations - Shareholders holding at least one-tenth of the paid-up capital can requisition a Special General Meeting if the Board does not convene within 21 days[176] - Shareholders can send inquiries to the Company via email or post, and can also make inquiries directly at general meetings[176] Risk Management - The Company has established a Risk Management Policy to formalize its risk management system, ensuring operations in a safe and steady environment[180] - The risk management process includes periodic risk identification and analysis, assessing the consequences and likelihood of identified risks, and developing management plans[180] - The Audit Committee oversees the management in the design, implementation, and monitoring of risk management and internal control systems[180] Future Outlook - The Group remains optimistic about the hotel hospitality business in Japan, aiming to attract approximately 60 million international visitors by 2030[69] - The company is focused on expanding its market presence and exploring new investment opportunities in various sectors[121] - Future outlook includes potential new product developments and technological advancements to meet market demands[121]

Financial Performance - The Group reported a turnover of HK$28,107,000 for the six months ended December 31, 2019, compared to HK$31,311,000 for the same period in 2018, representing a decrease of approximately 10.3%[8] - Gross profit for the period was HK$16,333,000, down from HK$20,238,000 in the previous year, indicating a decline of about 19.0%[8] - The loss before taxation was HK$4,770,000, significantly improved from a loss of HK$64,239,000 in the prior period[8] - The total comprehensive loss for the period amounted to HK$11,181,000, compared to a loss of HK$51,981,000 in the same period last year, reflecting a reduction of approximately 78.5%[12] - The loss per share attributable to owners of the Company was HK(0.01) cent, compared to HK(0.34) cent in the previous year, showing a notable improvement[12] Income and Expenses - Other income and gains for the period were HK$8,239,000, a significant increase from HK$191,000 in the previous year[8] - The Group incurred general and administrative expenses of HK$35,328,000, down from HK$47,920,000 in the prior period, indicating a reduction of approximately 26.4%[8] - The impairment loss on loans receivable was HK$366,000, a significant decrease from HK$29,401,000 in the previous year, reflecting improved asset quality[8] - The gain on disposal of subsidiaries was HK$8,512,000, compared to HK$880,000 in the previous year, indicating a substantial increase in divestment performance[8] Assets and Liabilities - Total non-current assets amounted to HK$647,353,000 as of December 31, 2019[15] - Current assets totaled HK$588,980,000, with cash and bank balances at HK$375,202,000[15] - Total current liabilities were HK$87,582,000, leading to net current assets of HK$501,398,000[17] - Total assets less current liabilities reached HK$1,148,751,000[17] - Non-current liabilities, including borrowings and lease liabilities, totaled HK$195,263,000[17] - Net assets stood at HK$953,488,000, with equity attributable to owners of the company at HK$997,834,000[17] Strategic Outlook - The interim report for 2019/20 indicates ongoing strategies for market expansion and product development[18] - The company is focusing on new technology research and development to enhance its competitive edge[18] - Future outlook includes potential mergers and acquisitions to strengthen market position[18] Cash Flow - For the six months ended December 31, 2019, the net cash generated from operating activities was HK$2,106,000, compared to a cash outflow of HK$84,016,000 in the same period of the previous year[25] - The net cash generated from investing activities was HK$73,260,000, significantly up from HK$28,053,000 in the prior year[25] - The total cash and cash equivalents at the end of the period stood at HK$375,202,000, slightly increased from HK$372,543,000 at the end of the previous year[25] - The company reported a net cash outflow from financing activities of HK$7,027,000, compared to a net inflow of HK$977,000 in the same period last year[25] Accounting Standards - The interim financial statements were prepared in accordance with Hong Kong Accounting Standard 34, ensuring compliance with applicable disclosure requirements[27] - The company has not early adopted any new HKFRSs that have been issued but are not yet effective, maintaining consistency with previous accounting policies[28] - The Group adopted HKFRS 16 for the first time, which significantly changes lease accounting treatment, primarily for lessees[38] - The cumulative effect of initially applying HKFRS 16 was recognized as an adjustment to the opening balance of accumulated losses[43] - The adoption of new/revised HKFRSs did not have a material impact on the Group's condensed consolidated financial statements[33] Segment Information - The Group reported a total turnover of HK$28,107,000 for the six months ended December 31, 2019, with segment revenues of HK$15,615,000 from hotel hospitality, HK$8,599,000 from money lending services, HK$1,723,000 from new energy business, and HK$2,170,000 from liquor and wine distribution[102] - The Group experienced a segment loss of HK$4,262,000, with losses of HK$3,587,000 in hotel hospitality, HK$5,760,000 in new energy, and HK$724,000 in liquor and wine[102] - Total segment assets amounted to HK$870,485,000 as of December 31, 2019, with the hotel hospitality business holding HK$543,055,000, money lending services HK$126,382,000, new energy business HK$6,280,000, liquor and wine HK$70,365,000, and investments in funds HK$124,403,000[108] Taxation - The total income tax credit for the period was HK$519,000, indicating a tax benefit compared to the previous year[140] - The company has no assessable profits arising in Hong Kong or the PRC, resulting in no provisions for profits tax in these regions[140] Investment Properties - The Group recognized a net deficit on revaluation of investment properties amounting to HK$2,061,000 for the six months ended 31 December 2019[123] - The Group completed the acquisition of investment properties through a subsidiary for HK$7,000,000 in October 2019, located in Hong Kong[185] - As of 31 December 2019, investment properties in Hong Kong with an aggregate carrying value of HK$18,600,000 were pledged as security for other loans[185]

Financial Performance - The loss for the year ended June 30, 2019, attributable to shareholders was approximately HK$154.9 million, compared to HK$156.8 million in 2018, with a basic loss per share of approximately 0.99 HK cents[10]. - The net loss for the year was approximately HK$168.9 million, compared to a net loss of approximately HK$157.5 million in 2018, with a loss attributable to owners of the Company of approximately HK$154.9 million[13]. - Basic loss per share was approximately 0.99 HK cent, a decrease from approximately 2.72 HK cents in 2018[13]. - The increase in net loss was mainly due to the absence of a gain on the change in fair value of financial liabilities at fair value through profit or loss, amounting to approximately HK$131.2 million[10]. - Impairment loss on loans receivable increased by approximately HK$124.7 million during the year[10]. Business Segment Performance - The hotel hospitality business recorded a turnover of approximately HK$33.2 million for the year, down from HK$37.4 million in 2018, resulting in a segment loss of approximately HK$6.8 million[10]. - The money lending services business turnover was approximately HK$22.3 million, an increase from HK$10.9 million in 2018, but recorded a segment loss of approximately HK$106.5 million due to increased impairment losses[10]. - The liquor and wine business turnover was approximately HK$0.9 million, down from HK$3.9 million in 2018, with a segment loss of approximately HK$3.1 million compared to a profit of approximately HK$12.3 million in the previous year[11]. - The turnover for the new energy business for the year ended June 30, 2019, was approximately HK$6.4 million, a decrease from approximately HK$7.7 million in 2018, while the segment loss improved to approximately HK$29.9 million from approximately HK$146.2 million in 2018[19]. Strategic Outlook - The Group is optimistic about the potential growth in tourism in Japan driven by the Tokyo Olympics 2020, which is expected to generate satisfactory income in the future[10]. - The management is optimistic about the potential growth in the hotel and resort industry in Japan, driven by the Tokyo Olympics 2020[13]. - The Group plans to further expand the scale of the money lending business with more cautious credit assessment[17]. - The Group will continue to explore more sales opportunities to improve the revenue stream of the liquor and wine business[11]. Corporate Governance - The Company has complied with the Corporate Governance Code except for deviation from code provision A.4.1, which requires non-executive directors to be appointed for a specific term[80]. - The Board consists of seven Directors, including three executive Directors and three independent non-executive Directors[81]. - The Company has adopted the full set of Model Code for Securities Transactions by Directors, confirming compliance by all directors during the year[80]. - The Board is responsible for overseeing the Group's businesses and strategic decisions, ensuring effective leadership and control[81]. Risk Management - The Company engaged a professional advisory firm for internal control review to ensure effective risk management and internal control systems[134]. - The Audit Committee was satisfied with the ongoing process for identifying and managing significant risks faced by the Group[134]. - The risk management process includes periodic risk identification and analysis, assessing consequences and likelihood, and developing mitigation plans[128]. - Ongoing and periodic monitoring of risks is performed to ensure effective management and reporting[133]. Environmental Responsibility - The Group is committed to reducing carbon emissions and protecting the environment through various operational strategies[200]. - The Group actively promotes pollution prevention and waste reduction initiatives, focusing on recycling and sustainable practices[200]. - The Group has implemented environmental management based on local requirements and standards to mitigate environmental impacts[200]. - Regular communication with stakeholders, including shareholders and employees, is maintained to address ESG concerns[194]. Shareholder Relations - The Company emphasizes effective communication with shareholders to enhance investor relations and understanding of its business[123]. - Shareholders holding at least one-tenth of the paid-up capital can requisition a Special General Meeting if the Board does not convene one within 21 days[121]. - Shareholders representing at least one-twentieth of total voting rights can propose resolutions at general meetings, requiring a written requisition and a statement of no more than 1,000 words[121]. Employee Management - The remuneration policy for senior employees is based on merit, qualifications, and market statistics, with a share option scheme adopted as an incentive[169]. - The management regularly reviews employee remuneration packages to ensure competitiveness in the market[172]. - The company is committed to providing continuing professional development for directors to keep them updated on statutory and regulatory developments[103].

Financial Performance - For the six months ended December 31, 2018, the Group reported a turnover of HK$31,311,000, a decrease from HK$47,920,000 in the same period of 2017, representing a decline of approximately 34.8%[8] - The gross profit for the period was HK$20,238,000, compared to HK$29,401,000 in the previous year, indicating a decrease of about 31.2%[8] - The loss for the period attributable to owners of the Company was HK$51,981,000, compared to a loss of HK$57,363,000 in the same period of 2017, showing an improvement of approximately 9.5%[9] - Total comprehensive income for the period was HK$10,115,000, an increase from HK$7,688,000 in the previous year, reflecting a growth of about 31.5%[9] - The basic loss per share from continuing operations was HK(0.34) cent, compared to HK(1.36) cents in the same period of 2017, indicating a reduction in loss per share[14] - The total comprehensive income attributable to owners of the Company was HK$44,941,000, compared to HK$57,889,000 in the previous year, indicating a decrease of approximately 22.4%[9] - The total loss before taxation for the group was HK$64,239,000, which includes unallocated corporate income and expenses of HK$19,737,000[110] - The loss before taxation amounted to HK$58,471,000, with significant impairment losses on goodwill totaling HK$124,820,000[114] - For the six months ended December 31, 2018, the loss attributable to owners of the Company was HK$53,896,000, compared to a loss of HK$71,331,000 for the same period in 2017[161] Assets and Liabilities - Total non-current assets decreased from HK$662,930,000 as of June 30, 2018, to HK$648,435,000 as of December 31, 2018, representing a decline of approximately 2.3%[17] - Current assets decreased from HK$746,777,000 as of June 30, 2018, to HK$727,877,000 as of December 31, 2018, a reduction of about 2.5%[17] - Net current assets decreased from HK$685,654,000 to HK$631,220,000, indicating a decline of approximately 7.9%[21] - Total assets less current liabilities decreased from HK$1,348,584,000 to HK$1,279,655,000, a decrease of about 5.1%[21] - Total equity attributable to owners of the Company decreased from HK$1,139,104,000 to HK$1,076,012,000, reflecting a decline of approximately 5.5%[21] - Total current liabilities increased from HK$61,123,000 to HK$96,657,000, representing an increase of approximately 58.2%[17] - The company reported a total of HK$9,802,000 in assets of a disposal group held for sale as of December 31, 2018[17] - The company’s cash and bank balances decreased from HK$421,680,000 to HK$372,522,000, a decline of approximately 11.6%[17] Cash Flow - The net cash used in operating activities for the six months ended December 31, 2018, was HK$84,016,000, compared to HK$45,245,000 for the same period in 2017[34] - Net cash generated from investing activities was HK$28,400,000, while net cash used in financing activities was HK$630,000, indicating a significant decrease in cash flow from financing compared to HK$73,784,000 in the previous year[34] - Cash and cash equivalents at the end of the period were HK$372,543,000, a decrease from HK$421,712,000 at the beginning of the period[34] - The company reported a decrease in cash and cash equivalents of HK$54,986,000 for the period, compared to a decrease of HK$72,065,000 in the previous year[34] Impairment and Losses - The impairment loss on loans receivable was HK$29,401,000, highlighting challenges in asset recovery during the reporting period[8] - The impairment loss recognized for the six months ended December 31, 2018, was HK$29,401,000, significantly higher than HK$2,441,000 for the same period in 2017, reflecting an increase of over 1,100%[189] - The impairment loss recognized for the New Energy Business CGU for the six months ended December 31, 2018, was HK$6,569,000, a significant decrease from HK$124,820,000 for the same period in 2017[169] Revenue Segments - Total revenue for the six months ended December 31, 2018, was HK$31,311,000, with segment revenues from hotel hospitality, money lending, new energy, liquor and wine, and investments in funds[110] - The new energy business segment generated revenue of HK$4,122,000 but incurred a loss of HK$17,352,000 during the same period[110] - The hotel hospitality business reported a revenue of HK$15,026,000, while the money lending services segment generated HK$11,625,000[110] - Total segment revenue for the hotel hospitality business was HK$16,180,000, while the money lending services generated HK$5,212,000, and the new energy business contributed HK$4,210,000, leading to a total revenue of HK$26,801,000[114] Accounting Standards - The unaudited condensed consolidated interim financial statements were prepared in accordance with Hong Kong Accounting Standards, ensuring compliance with applicable disclosure requirements[37] - The Group adopted new/revised Hong Kong Financial Reporting Standards (HKFRSs) effective from July 1, 2018, including HKFRS 9 and HKFRS 15, which have no material impact on the Group's financial statements[38] - The adoption of HKFRS 15 relates to revenue recognition from contracts with customers, clarifying the revenue recognition process[38] - The Group's financial statements continue to comply with the relevant HKFRSs, ensuring transparency and accuracy in financial reporting[39] - The Group's business model assessment for financial assets was made as of July 1, 2018, and applied retrospectively[49] Shareholder Information - The weighted average number of ordinary shares for calculating basic loss per share increased to 15,695,532,000 shares in 2018 from 5,231,844,000 shares in 2017[161] - No interim dividend was recommended for the six months ended December 31, 2018, consistent with the previous year[158] Miscellaneous - The company issued 700,000,000 consideration shares for the acquisition of 85% of Delta Prestige Holdings Limited, with a profit guarantee of not less than HK$100,000,000 for the year ending June 30, 2016[198] - If the profit target is not met, the vendor will compensate the company in cash, calculated based on the difference between the profit target and the audited net profit[198]