Financial Performance - The net profit attributable to the owners of the Company for the Period under Review was approximately HK$83 million, compared to a net loss of approximately HK$34 million for the same interim period last year[36]. - The company reported a profit for the period of HK$84,588,000, a turnaround from a loss of HK$34,055,000 in 2019[151]. - Total comprehensive income for the period was HK$105,969,000, compared to a loss of HK$33,651,000 in 2019[164]. - Earnings per share for the period were HK$12 cents, compared to a loss of HK$5 cents per share in 2019[169]. - The company recorded a profit for the period of HK$83,338,000, compared to a loss of HK$34,055,000 in the previous year[181]. Revenue and Business Segments - Revenue from the brokerage business increased by approximately HK$14 million, while the money lending business contributed approximately HK$11 million to the profit[36]. - IBL's revenue and profit for the Period under Review were approximately HK$16 million and HK$14 million respectively, a substantial improvement from approximately HK$2 million in revenue and a loss of approximately HK$0.005 million for the same interim period last year[26]. - The money lending business contributed revenue and profit of approximately HK$11 million and HK$13 million respectively during the Period under Review[29]. - Total revenue for the six months ended June 30, 2020, was HK$33,479,000, a decrease of 23.2% compared to HK$43,644,000 in 2019[147]. - Interest income on loans receivable and margin clients significantly increased to HK$26,892,000 from HK$1,956,000, representing a growth of 1,272.5%[147]. Investments and Market Conditions - As of June 30, 2020, the aggregate market value of listed securities classified as investments was approximately HK$227 million[15]. - The net realized gains from listed equity investments were approximately HK$6 million, while unrealized gains were approximately HK$24 million for the period under review[15]. - The net realized and unrealized gain from listed equity investments for the Period under Review was approximately HK$30 million, compared to a net loss of approximately HK$29 million from listed equity investments in the previous period[36]. - The company believes in the long-term optimistic prospects of the Hong Kong equity market despite current challenges[15]. - The company remains confident in the long-term prospects of the Hong Kong equity market despite current economic uncertainties[29]. Financial Position and Assets - As of June 30, 2020, the group had bank balances of approximately HK$89 million, down from approximately HK$734 million as of December 31, 2019, with a current ratio of approximately 53 times[41]. - The company had no bank or other borrowings as of June 30, 2020, resulting in a gearing ratio of zero, compared to 196.6% as of December 31, 2019[42]. - The unaudited consolidated net asset value per share was approximately HK$0.832 as of June 30, 2020, up from approximately HK$0.733 as of December 31, 2019[43]. - The company's net current assets decreased to HK$555,807,000 from HK$1,375,831,000, a decline of 59.6%[173]. - Net assets increased to HK$690,129,000 from HK$506,880,000 year-over-year[176]. Share Capital and Corporate Governance - The company issued 138 million shares at a subscription price of HK$0.58 each in exchange for 114,342,857 shares of Oshidori, totaling HK$80,040,000[47]. - The total number of issued shares was 829,921,572, with a market value of approximately HK$598 million as of June 30, 2020[50]. - Kenson Investment Limited holds a significant interest of 19.08% in the company, with 158,338,200 shares as of June 30, 2020[90]. - The company has complied with corporate governance practices as per the Listing Rules during the period under review[72]. - No interim dividend is recommended for the period under review, consistent with the previous year[84]. Operational Strategy and Future Outlook - The company is adopting a cautious stance in its proprietary trading business due to uncertainties in the local equity market caused by the COVID-19 pandemic and political instability in Hong Kong[15]. - The management is reviewing market conditions and will adjust strategies accordingly to ensure stability and performance[15]. - The Company will adopt a cautious approach towards commencing new businesses and other expansion plans due to the current unstable market conditions[26]. - The company plans to expand into integrated financial services, including securities brokerage, margin financing, and asset management services[55]. - The company will adopt a cautious and conservative approach to new business expansion due to the current poor economic climate[65]. Cash Flow and Financing Activities - The company generated cash from operations of HK$321,525,000 for the six months ended June 30, 2020, compared to HK$56,019,000 in the same period of 2019[184]. - The net cash generated from operating activities was HK$321,325,000, significantly higher than the previous year's figure[184]. - The company reported a net cash used in financing activities of (1,073,814) thousand, which is a significant increase compared to (46,043) thousand in the prior period[191]. - Cash and cash equivalents at the end of the period amounted to 129,565 thousand, up from 89,418 thousand[190]. - The company reported a net (decrease)/increase in cash and cash equivalents of (HK$645,007,000) for the period[187].

Financial Performance - The company reported a net loss after tax of approximately HK$160 million for the year ended December 31, 2019, primarily due to increased legal and professional fees, interest expenses of approximately HK$14 million from HK$1 billion guaranteed notes, and net realized losses from the sale of listed equity of approximately HK$80 million [15]. - The net loss attributable to shareholders for the Year under Review was approximately HK$159 million, an increase of approximately 36% compared to the previous financial year [57]. - The company reported total net realized losses from sales of listed equity investments of approximately HK$80 million and unrealized losses of approximately HK$28 million for the Year under Review [45]. - The group had bank balances amounting to approximately HK$734 million as of December 31, 2019, compared to approximately HK$104 million in 2018, indicating improved liquidity [60]. - The current ratio as of December 31, 2019, was approximately 112 times, significantly higher than approximately 14 times in 2018 [60]. - The gearing ratio was 196.6% as of December 31, 2019, compared to 6.5% in 2018, reflecting increased leverage due to the issuance of guaranteed notes [61]. Business Strategy and Development - The company plans to focus its resources on developing its new core business in integrated financial services, while minimizing resources allocated to the computer graphic imaging (CGI) business until significant improvements are observed [15]. - The company expects significant improvement in the performance of its core integrated financial services business segment in the coming year [26]. - The company has begun a stride towards full-fledged financial services with additional capital injection, staff recruitment, and new licenses obtained from the SFC [30]. - The management believes that the brokerage services will significantly contribute to the group's operations and profits in the foreseeable future [30]. - The company will continuously review its strategy in the securities investments and proprietary trading business due to the global business slowdown [19]. Investments and Acquisitions - The company executed a term sheet for the potential acquisition of Les Ambassadeurs Club Limited in May 2019, with a sale and purchase agreement finalized in July 2019 [32]. - The Company is acquiring the Target Company for £122,000,000 (approximately HK$1,206.1 million), which will be settled in cash [35]. - The Target Company operates Les Ambassadeurs Club, a private members club in London, providing high-end casino and luxury services to wealthy individuals [35]. - The Acquisition is classified as a very substantial acquisition and a reverse takeover, requiring shareholder approval at a special general meeting [35]. Film Investments - The company has invested approximately HK$12.1 million in the development of three films out of a total expected investment of about HK$20.4 million for six films, with one film having been staged from October 2019 [17]. - The company is entitled to share a certain percentage of income generated from the films based on the proportion of investment amounts as specified in the agreement [17]. - The Company has invested approximately HK$12.1 million in the movie business during the Year under Review, with a total budgeted investment of HK$20.4 million across six films [43]. Human Resources - John & Wong Securities Company Limited, a wholly-owned subsidiary, is actively recruiting additional personnel to expand its services, with plans for further recruitment [20]. - The Group employed 37 employees as of December 31, 2019, compared to 27 employees in 2018, reflecting a 37% increase in workforce [71]. - Total staff cost for the Year under Review, including Director's emoluments, amounted to approximately HK$19 million, up from approximately HK$17 million in 2018, representing a 11.76% increase [71]. - John & Wong, a wholly-owned subsidiary, received an additional capital injection of HK$128 million to expand its brokerage services and began generating profit for the Group [48]. Governance and Compliance - The company has complied with the Corporate Governance Code and the code provisions set out in Appendix 14 to the Listing Rules during the year under review [104]. - The Board of Directors consists of three executive Directors and five independent non-executive Directors, bringing diverse industry expertise and a wide range of skills to the Group [107]. - The company has adopted the Model Code for Securities Transactions by Directors, with all Directors confirming full compliance throughout the year [105]. - The Board consists of three executive directors and five independent non-executive directors, ensuring a high level of independence with at least one-third being independent [113]. - The independent non-executive directors play a crucial role in maintaining high standards of financial reporting and safeguarding shareholder interests [113]. Risk Management and Internal Control - The Board is responsible for establishing and maintaining effective risk management and internal control systems [170]. - An independent review of the Company's risk management and internal control systems was conducted during the year, covering financial, operational, and compliance controls [171]. - The risk management system includes identifying significant risks, introducing controls to manage those risks, and monitoring the effectiveness of these measures [176]. - The internal control system ensures unauthorized access and confidentiality of inside information, supported by a disclosure policy [178]. - The Board has implemented measures for internal audit functions and conducted an independent review of risk management systems based on risk parameters [179]. Financial Reporting and Audit - The Directors acknowledge their responsibility for preparing the financial statements in accordance with Hong Kong Financial Reporting Standards [189]. - During the Year under Review, remuneration for audit and non-audit services provided by Crowe was approximately HK$1,300,000 and HK$4,240,000 respectively [186]. - The Audit Committee has been notified of the nature and service charges of Crowe and considered that such services have no adverse effect on the independence of the external auditor [186]. - The Audit Committee recommended the re-appointment of external auditors based on their performance, fees, and terms of engagement [153]. Shareholder Communication - The Board recognizes the importance of good and effective communication with its shareholders through various formal channels [198]. - The Company's annual general meeting serves as a valuable forum for the Board to communicate directly with shareholders [199].

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].