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]