Financial Performance - The net loss for the period was approximately HK$34 million, compared to a net loss of approximately HK$50 million for the same interim period last year, primarily due to net changes in fair value of listed equity investments of approximately HK$29 million[177]. - The CGI business made no profit contribution to the Group during the Period under Review, and the Company invested approximately HK$8.2 million in two movies, which also did not yield any profit[18]. - The money lending business contributed a profit of approximately HK$0.4 million to the Group during the period under review[173]. - John & Wong Securities Company Limited did not make any profit contribution to the Group for the period under review[172]. Market Conditions and Business Strategy - The Company is adopting a cautious stance in its proprietary trading business due to the depressed local equity market influenced by international trade disputes and the uncertain political situation in Hong Kong[20]. - The Group adopted a conservative approach towards its money lending business due to the current uncertain economic environment[173]. - The Company plans to continue its expansion into integrated financial services, including securities brokerage, corporate finance advisory, and asset management, albeit at a cautious pace due to poor economic conditions[188]. - The Group is preparing to commence expansion plans for its brokerage business upon market recovery[172]. Financial Position - As of June 30, 2019, the aggregate market value of listed debt securities and equity securities was approximately HK$430 million, with a net realized gain of approximately HK$26 million and an unrealized loss of approximately HK$56 million during the Period under Review[20]. - As of June 30, 2019, the Group's bank balances amounted to approximately HK$130 million, up from approximately HK$104 million as of December 31, 2018[177]. - The current ratio as of June 30, 2019, was approximately 42 times, compared to approximately 14 times as of December 31, 2018[177]. - The Group had no bank or other borrowing as of June 30, 2019, with a gearing ratio of zero, down from 6.5% as of December 31, 2018[177]. - Held-for-trading investments pledged to financial institutions amounted to approximately HK$423 million as of June 30, 2019, down from HK$549 million as of December 31, 2018[180][184]. Employee and Staff Costs - Total staff costs, including Directors' emoluments, increased by approximately 20% from approximately HK$8.6 million to approximately HK$10.4 million for the period under review[177]. - As of June 30, 2019, the Group employed 27 employees excluding 8 Directors, consistent with the previous year[197]. - The total staff cost for Directors and staff during the review period was approximately HK$10.4 million, an increase from approximately HK$8.6 million in 2018, representing a growth of about 21%[197][200]. - The Group's emolument policy is based on employee qualifications, experience, work performance, and market benchmarks, with regular reviews to ensure compliance with labor laws[197][200]. - Incentives in the form of bonuses and share options may be offered to eligible employees based on individual performance and the Group's business results[197][200]. Acquisition Plans - The Company has conditionally agreed to acquire Les Ambassadeurs Club Limited for a consideration of £122 million (approximately HK$1,206.1 million), subject to shareholder approval[190][193]. - The acquisition of Les Ambassadeurs Club is considered a very substantial acquisition and will be treated as a reverse takeover, requiring compliance with new listing application rules[192]. - Completion of the acquisition is conditional upon the satisfaction of various conditions in the Sale and Purchase Agreement, with potential completion expected towards the end of 2019 or the first quarter of 2020[196]. - The completion of potential acquisition matters is contingent upon meeting various conditions, with no guarantee of completion by the end of 2019 or the first quarter of 2020[199].

Financial Performance - The company reported a net loss after tax of approximately HK$118 million for the year ended December 31, 2018[16]. - The losses were primarily due to net realized losses from sales of listed equity of approximately HK$16 million and losses from changes in fair value of listed equity investments totaling approximately HK$107 million[16]. - The net loss attributable to shareholders for the Year under Review was approximately HK$118 million, an improvement of approximately 73% compared to the previous financial year[55]. - The total net realised losses from sales of listed equity investments were approximately HK$16 million, down from approximately HK$93 million last year[55]. - Losses from changes in fair value and impairment loss of listed equity investments were approximately HK$107 million, significantly reduced from approximately HK$319 million last year[55]. Business Focus and Strategy - The company is focusing on developing its new core business in integrated financial services, with strengthened management expertise through new recruitments[17]. - The integrated financial services business will be the principal focus of the company going forward[24]. - The Company plans to enhance its integrated financial services business, which includes securities investments, brokerage services, margin financing, and money lending[41]. - The management expects significant improvement in the performance of the integrated financial services business in the coming year[29]. - The Company anticipates that the money lending business will provide consistent and significant returns in the future[27]. Investments and Acquisitions - The company has decided to invest a total of HK$20.4 million in the movie business, with HK$3.9 million invested during the year under review[18]. - The first production from the movie investment is expected to be released in theaters in the second half of 2019[18]. - The Company disposed of its 50% shareholding in the joint venture for HK$150 million on April 23, 2018, to focus on its own money lending business[27]. - Longtop Enterprises Limited, acquired on March 22, 2018, generated approximately HK$3.4 million in interest from eight loans during the Year under Review[27]. - The Company invested HK$3.9 million in the movie business during the Year under Review, with a total budgeted investment of HK$20.4 million[41]. Corporate Governance - The company has complied with the Corporate Governance Code, except for deviations from Code Provision A.6.7 regarding attendance of independent non-executive directors at general meetings[108]. - The board consists of three executive directors and three independent non-executive directors, bringing diverse industry expertise[119]. - The company emphasizes the importance of good corporate governance for enhancing accountability and transparency[107]. - The Board consists of three executive directors and three independent non-executive directors, ensuring a high level of independence with independent directors representing at least one-third of the Board[125][126]. - The independent non-executive directors have confirmed their independence in accordance with the Listing Rules, and the Board considers all of them to be independent[127]. Financial Position and Liquidity - The Group's liquidity position remained healthy with bank balances amounting to approximately HK$104 million as of December 31, 2018[56]. - The current ratio was approximately 14 times as of December 31, 2018, compared to approximately 64 times in the previous year[56]. - The Group had interest-bearing margin payables of approximately HK$43 million as of December 31, 2018, with a gearing ratio of 6.5%[60]. - As of December 31, 2018, the total number of issued shares was 691,921,572, with a market value of approximately HK$1,093 million, up from HK$462 million in 2017[63][64]. - The consolidated net asset value per share as of December 31, 2018, was approximately HK$0.961, a decrease from HK$1.131 in 2017[65]. Risk Management and Internal Control - The Company has established and maintained appropriate and effective risk management and internal control systems for the year ended December 31, 2018[199]. - An independent internal control advisory team has reviewed the adequacy and effectiveness of risk management and internal control systems, focusing on risk parameters such as probability and impact[197]. - The risk management system identifies significant risks, introduces controls to manage them, and monitors the effectiveness of these measures[190]. - The internal control system includes procedures to prevent unauthorized access and use of inside information, supported by a disclosure policy[192]. - The Company has developed a disclosure policy to guide Directors and senior management in handling confidential information[192]. Board and Management - The Company has arranged in-house training for directors and senior executives to enhance their knowledge and skills during the year under review[139][141]. - The Board is responsible for significant financial and operational matters, including setting business development goals and monitoring financial performance[133][135]. - Each non-executive director has a two-year appointment term, with one-third of the directors required to retire by rotation at least once every three years[142][143]. - The roles of chairman and chief executive are separated to ensure effective leadership and management within the Company[157]. - Directors are encouraged to seek independent professional advice at the Company's expense to ensure informed decision-making[133][135].