Financial Performance - The company reported a net loss of approximately HKD 331,187,000 for the year ended December 31, 2022, compared to a net profit of approximately HKD 165,130,000 in 2021, primarily due to unrealized losses on financial assets measured at fair value through profit or loss amounting to HKD 206,646,000[26]. - The company reported a total comprehensive loss attributable to owners of HKD (383,127) for the year, compared to a profit of HKD 186,326 in 2021[82]. - Total revenue for 2022 was HKD 252 thousand, down from HKD 480 thousand in 2021, indicating a decrease of approximately 47.5%[111]. - The company reported a loss attributable to owners of the company of HKD (331,187) thousand for the year 2022, compared to a profit of HKD 165,130 thousand in 2021, representing a significant decline[112][129]. - Basic and diluted loss per share for 2022 was HKD (23.97), a decline from earnings of HKD 12.36 and HKD 12.27 respectively in 2021[111]. - The company experienced a net unrealized loss on financial assets measured at fair value through profit or loss of HKD (206,646) thousand in 2022, compared to a gain of HKD 169,202 thousand in 2021[111]. - The company reported interest income from banks and financial institutions of HKD 252,000, a decrease of 47.5% compared to HKD 480,000 in 2021[102]. - The company’s cash and cash equivalents decreased from HKD 111,881 thousand in 2021 to HKD 101,029 thousand in 2022, a decline of approximately 9.5%[115]. Assets and Liabilities - The total assets of the company as of December 31, 2022, were HKD 1,215,351, a decrease of 16.7% from HKD 1,459,339 in 2021[103]. - The total liabilities decreased to HKD 120,770 as of December 31, 2022, down 35.4% from HKD 187,077 in 2021[103]. - The company's total equity decreased from HKD 1,272,262 thousand in 2021 to HKD 1,096,692 thousand in 2022, a decline of approximately 13.8%[116]. - The company’s non-current assets totaled HKD 509,620 as of December 31, 2022, down from HKD 604,567 in 2021[103]. - Non-current assets decreased from HKD 1,228,647 thousand in 2021 to HKD 1,001,595 thousand in 2022, a reduction of approximately 18.5%[115]. - Current liabilities decreased from HKD 134,875 thousand in 2021 to HKD 73,309 thousand in 2022, a decrease of approximately 45.5%[115]. Share Issuance and Capital Management - The company issued 26,808,000 ordinary shares at a placement price of HKD 3.50 per share on October 14, 2022, raising a total of HKD 93,828,000[36]. - The company issued 37,912,000 ordinary shares at a placement price of HKD 3.05 per share, raising approximately HKD 115,632,000[52]. - The company issued a total of 22,130,597 ordinary shares during the year, raising approximately HKD 17,813,000[80]. - The company issued a total of 5,565,193 ordinary shares from stock options exercised, raising approximately HKD 4,381,000[162]. - The group had long-term borrowings of approximately HKD 38,532,000 as of December 31, 2022, down from HKD 49,775,000 in 2021[178]. - The capital debt ratio (total borrowings divided by equity attributable to owners) was approximately 8.6% as of December 31, 2022, compared to 13.2% in 2021[178]. Employee and Operational Costs - The company recorded employee costs of HKD 20,559,000 in 2022, compared to HKD 15,181,000 in 2021, indicating an increase in labor expenses[4]. - The total employee costs, including directors' remuneration, increased to HKD 29,728 in 2022, up 26.7% from HKD 23,464 in 2021[105]. - The company has 35 employees as of December 31, 2022, an increase from 32 employees in the previous year[55]. Investment Strategy and Portfolio Management - The company has adopted a prudent and proactive strategy to manage its investment portfolio in light of the challenging investment environment[44]. - The investment strategy is diversified across property development and management, construction engineering and environmental protection, finance, and innovation and technology investments[45]. - The company is actively seeking attractive long-term investment opportunities in light of global financial market volatility[148]. - The company has established risk management procedures to identify, measure, monitor, and control various risks faced by its investment portfolio[146]. Governance and Compliance - The audit committee has reviewed the financial reporting process and internal controls, and the financial statements for the year ended December 31, 2022, have been approved[59]. - The company has complied with all applicable provisions of the corporate governance code, except for specific deviations noted[57]. - The audit committee is responsible for overseeing the company's financial reporting system and internal control procedures[187]. - The board confirms that the preparation of the group's consolidated financial statements for the year ended December 31, 2022, was conducted with reasonable skill and diligence[188]. - The remuneration committee advises on the compensation policies and structures for all directors and senior management[189]. - The nomination committee reviews the board's structure and composition at least annually and makes recommendations for any changes[190]. Market and Economic Conditions - The global economic growth is projected to slow from 6.0% in 2021 to 3.2% in 2022 and further to 2.7% in 2023 according to the International Monetary Fund[43]. - The inflation rate for the year 2022 decreased from 7.1% to 6.5%, with expectations of a slowdown in interest rate hikes by the US Federal Reserve[182]. - The anticipated economic growth rate for China in 2023 is projected to be 5%, while the US and Europe face recession risks[182]. - The group plans to adopt a prudent strategy to manage its investment portfolio in light of geopolitical tensions and economic uncertainties[182]. Legal Matters - The company has faced legal claims related to a deposit of HKD 10,000,000, which is currently under litigation[46]. Dividend Policy - The company did not declare any dividends for the year, consistent with the previous year[107]. - The group did not recommend a final dividend for the year ended December 31, 2022, compared to no dividend in 2021[177].

Financial Performance - For the six months ended June 30, 2022, the company reported a loss attributable to owners of HKD 272,278,000, compared to a loss of HKD 48,519,000 for the same period in 2021, representing a significant increase in losses [2]. - Total revenue for the six months ended June 30, 2022, was HKD 149,000, compared to HKD 258,000 in the same period of 2021, indicating a decline of approximately 42.3% [2]. - The company recorded unrealized losses on financial assets measured at fair value through profit or loss of HKD 211,323,000 for the period, compared to HKD 52,277,000 in the previous year, reflecting a substantial increase in unrealized losses [2]. - The company reported a basic and diluted loss per share of HKD 20.05 for the six months ended June 30, 2022, compared to HKD 3.65 for the same period in 2021, indicating a significant deterioration in earnings per share [2]. - The group reported a pre-tax loss of HKD 272,278,000 for the six months ended June 30, 2022, compared to a loss of HKD 48,519,000 for the same period in 2021, indicating a significant increase in losses [41]. - The company recorded a loss of approximately HKD 272,300,000 for the six months ended June 30, 2022, an increase of 461.2% compared to a loss of HKD 48,500,000 for the same period in 2021 [91]. Assets and Liabilities - The company's total assets less current liabilities decreased to HKD 1,135,253,000 as of June 30, 2022, down from HKD 1,324,464,000 at the end of 2021, indicating a decline of about 14.3% [9]. - The net asset value of the company as of June 30, 2022, was HKD 1,086,760,000, down from HKD 1,272,262,000 at the end of 2021, representing a decrease of approximately 14.6% [9]. - Total assets as of June 30, 2022, amounted to HKD 1,275,130,000, down from HKD 1,459,339,000 as of December 31, 2021, representing a decrease of approximately 12.6% [29]. - The company's equity attributable to owners decreased to HKD 1,086,760,000 as of June 30, 2022, from HKD 1,272,262,000 at the end of 2021, indicating a decline of about 14.6% [9]. - Total liabilities increased slightly to HKD 188,370,000 as of June 30, 2022, from HKD 187,077,000 as of December 31, 2021 [29]. - The company had a total current liability of HKD 117,646 thousand and a non-current liability of HKD 35,763 thousand as of June 30, 2022 [58]. Cash Flow and Financing Activities - Cash and cash equivalents increased to HKD 143,937,000 as of June 30, 2022, from HKD 111,881,000 at the end of 2021, showing an increase of approximately 28.6% [8]. - Net cash generated from operating activities was (52,297) thousand HKD for the six months ended June 30, 2022, compared to 47,154 thousand HKD in 2021 [16]. - Net cash generated from financing activities was 87,564 thousand HKD for the six months ended June 30, 2022, compared to (53,662) thousand HKD in 2021 [16]. - Total cash and cash equivalents increased by 34,263 thousand HKD for the six months ended June 30, 2022, compared to a decrease of (6,508) thousand HKD in 2021 [16]. - The company raised 116,059 thousand HKD from share issuance in the first half of 2022, a significant increase from 4,785 thousand HKD in the same period of 2021 [16]. - The company raised approximately 115,632,000 HKD from the issuance of 37,912,000 ordinary shares at a subscription price of 3.05 HKD per share on June 2, 2022 [66]. Expenses and Costs - Administrative expenses increased to HKD 51,174,000 from HKD 43,514,000 year-on-year, marking an increase of approximately 17.8% [2]. - The total employee costs, including directors' remuneration, rose to HKD 12,765,000 in 2022 from HKD 9,289,000 in 2021, reflecting a year-on-year increase of 37.5% [34]. - Interest income from banks and financial institutions decreased to 149 thousand HKD in 2022 from 258 thousand HKD in 2021 [26]. - Interest income from banks and financial institutions in Hong Kong decreased to HKD 81,000 from HKD 203,000, a decline of 60% year-on-year [29]. Investments - The company’s investment in Hong Kong listed equity securities was valued at HKD 515,653,000 as of June 30, 2022, a decline of 23.5% from HKD 674,085,000 at the end of 2021 [49]. - The investment in Chinese listed equity securities was valued at HKD 71,721,000 as of June 30, 2022, down 27.5% from HKD 99,094,000 as of December 31, 2021 [49]. - The company holds a 15.40% stake in Huayin International Holdings Limited, with a market value of HKD 474,110,000 as of June 30, 2022, representing 37.18% of the group's total assets [49]. - The company’s investment in Tianma Bearing Group Co., Ltd. in China has a market value of HKD 71,173,000, representing 5.58% of the group's total assets [51]. - The company sold its entire equity interest in five subsidiaries for a total consideration of HKD 50,000, resulting in a loss of HKD 190,000 [86]. Corporate Governance and Compliance - The group did not recommend an interim dividend for the six months ended June 30, 2022, consistent with the previous year [38]. - The company has adopted the standard code of conduct as per Appendix 10 of the listing rules, with all directors confirming compliance during the period [115]. - The audit committee, composed solely of independent non-executive directors, reviewed the unaudited interim results and financial reports, which were approved by the board on August 22, 2022 [117]. - The company has complied with all applicable provisions of the corporate governance code as per Appendix 14 of the listing rules, with one exception regarding the absence of the chairman at the annual general meeting [116]. Risk Management - The company has established risk management procedures to identify, measure, monitor, and control various risks associated with its investment portfolio [96]. - The geopolitical tensions, particularly between major nuclear powers, pose significant risks to the global economy, with the ongoing Ukraine war and rising fuel and food prices contributing to inflation [105].

Financial Performance - For the year ended December 31, 2021, the company recorded a net profit of approximately HKD 165,130,000, a decrease of about HKD 118,263,000 or 41.7% compared to the previous year[8]. - The company reported a total comprehensive income of HKD 186,326 for the year, down from HKD 330,237 in 2020, reflecting a decline of 43.58%[100]. - The profit attributable to the owners of the company for the year was HKD 165,130, a decline of 41.73% from HKD 283,393 in 2020[100]. - Basic earnings per share decreased to HKD 12.36 from HKD 21.88, reflecting a drop of 43.06%[99]. - The company reported a net loss from the sale of financial assets measured at fair value through profit or loss of HKD 21,859,000, compared to a gain of HKD 23,937,000 in the previous year[99]. - The total revenue for the year ended December 31, 2021, was HKD 480,000, a decrease of 49.47% from HKD 950,000 in 2020[99]. - The company reported a decrease in interest expenses to HKD 19,242,000 from HKD 26,395,000 in the previous year, indicating improved cost management[104]. - The group reported a profit before tax for the year ended December 31, 2021, of HKD 92,018,000, a decrease of 73.9% compared to HKD 353,384,000 in 2020[171]. Investment Portfolio - The company has diversified its investment portfolio, which includes property development and management, construction engineering, and innovation and technology investments[10]. - The company’s investment strategy is categorized into long-term equity investments, mid-term private equity and venture capital, and short-term securities trading and other financial instruments[10]. - The total amount of listed securities held under financial assets measured at fair value through profit or loss was approximately HKD 773,179,000 as of December 31, 2021, compared to HKD 682,142,000 in 2020[9]. - The group maintained a significant investment in Huayin International Holdings Limited, holding 1,042,000,000 shares, representing 15.40% of the invested company's capital[13]. - The group is actively seeking attractive long-term investment opportunities in light of global financial market volatility[14]. - The group reported a cumulative unrealized gain of HKD 586,894,000 from its investments as of December 31, 2021[13]. - The group’s investment in listed equity securities in China amounted to HKD 99,094,000 in 2021, up from HKD 71,118,000 in 2020, reflecting a growth of about 39.4%[189]. Cash Flow and Liquidity - As of December 31, 2021, the group's bank balance and cash amounted to approximately HKD 111,881,000, representing 7.7% of total assets, down from 12.8% in 2020[19]. - The company experienced a significant decrease in cash flow from operating activities, with a net cash outflow of HKD 14,547,000 compared to an outflow of HKD 157,022,000 in the previous year[105]. - The company’s cash and cash equivalents decreased to HKD 111,881,000 at year-end from HKD 164,127,000 at the beginning of the year[105]. - The financing activities resulted in a net cash outflow of HKD 65,481,000, a decrease from a net inflow of HKD 148,321,000 in 2020[105]. - The group’s total liabilities decreased to HKD 187,077 in 2021 from HKD 319,128 in 2020, a reduction of 41.3%[166]. Risk Management - The company has established risk management procedures to identify, measure, monitor, and control various risks associated with its investment portfolio[11]. - The board will adopt a prudent strategy to manage the investment portfolio amid uncertain economic conditions due to inflation and geopolitical tensions[26]. - The risk management committee is responsible for overseeing investment-related risks and recommending appropriate risk mitigation measures to the board[82]. Corporate Governance - The company has complied with all applicable provisions of the corporate governance code, except for the absence of the chairman at the annual general meeting held on May 13, 2021[29]. - The audit committee, composed of independent non-executive directors, is responsible for overseeing the company's financial reporting system and internal control procedures[55]. - The company has established a risk management committee and an investor relations committee to enhance governance[69]. - All independent non-executive directors confirmed their independence in accordance with the applicable rules[69]. Shareholder Information - The largest shareholder, Hong Kong Dingyifeng International Holdings Group, holds 198,030,400 shares, representing 14.67% of the issued share capital[47]. - The beneficial owner, Ma Xiaoqiu, holds a total of 209,750,400 shares, accounting for 15.54% of the issued share capital[47]. - The company did not recommend the payment of a final dividend for the year ended December 31, 2021, compared to no dividend in 2020[18]. - The company has adopted a dividend policy that considers financial performance, cash flow, investment strategies, and shareholder interests when declaring dividends[56]. Assets and Liabilities - The total assets of the company as of December 31, 2021, amounted to HKD 1,272,262,000, reflecting a strong asset base despite the profit decline[103]. - The carrying amount of property, plant, and equipment was approximately HKD 519,703,000, including land and buildings in China valued at about HKD 519,428,000[91]. - Non-current liabilities decreased significantly to HKD 49,775,000 in 2021 from HKD 137,751,000 in 2020, a reduction of 64%[198]. - The group’s intangible asset impairment loss was HKD 2,146,000 in 2021, indicating a significant write-down compared to no impairment in 2020[172]. Economic Environment - The global economic growth for 2021 was reported at 5.9%, slightly lower than previous estimates by 0.1 percentage points, influenced by the COVID-19 pandemic[7]. - The current inflation rate in the U.S. has reached 7.5%, the highest in 40 years, prompting expectations of multiple interest rate hikes by the Federal Reserve this year[26].

Financial Performance - Revenue for the six months ended June 30, 2021, was HKD 258,000, a decrease of 42.9% compared to HKD 451,000 in the same period of 2020[1] - Other income for the same period was HKD 171,000, down 73.4% from HKD 643,000 in 2020[1] - The net loss before tax for the period was HKD 127,404, an increase of 78.9% compared to HKD 71,250 in 2020[1] - The loss attributable to owners of the company for the period was HKD 48,519, a significant improvement from HKD 71,250 in the previous year[2] - Basic and diluted loss per share for the period was HKD 3.65, compared to HKD 5.59 in the same period of 2020[1] - The company reported a loss of HKD 48,519,000 for the six months ended June 30, 2021, compared to a loss of HKD 71,250,000 in the same period of 2020, representing a 31.9% improvement[10] - The company recorded a loss of approximately HKD 48.5 million for the period, a decrease of 31.9% compared to a loss of HKD 71.3 million in the same period last year[79] Assets and Liabilities - Total assets less current liabilities as of June 30, 2021, amounted to HKD 1,202,799, a decrease from HKD 1,324,686 as of December 31, 2020[5] - The company's net asset value as of June 30, 2021, was HKD 1,073,367, down from HKD 1,109,210 at the end of 2020[5] - The company’s total equity as of June 30, 2021, was HKD 1,073,367, reflecting a decrease in shareholder equity[5] - Total assets as of June 30, 2021, were HKD 631,750 million, a decrease from HKD 803,208 million as of December 31, 2020, reflecting a decline of 21.3%[19] - The company’s total liabilities classified as current liabilities were HKD 177,414,000 as of June 30, 2021, down from HKD 220,356,000 as of December 31, 2020, indicating a decrease of 19.5%[43] Cash Flow and Financing Activities - The company’s cash and cash equivalents as of June 30, 2021, were HKD 552,836, down from HKD 682,142 at the end of 2020[4] - The net cash generated from operating activities was HKD 47,154,000, a significant recovery from a net cash outflow of HKD 70,247,000 in the previous year[11] - The company reported a net cash outflow from financing activities of HKD 53,662,000, a decrease from a net inflow of HKD 134,906,000 in the same period last year[12] - As of June 30, 2021, cash and cash equivalents stood at HKD 157,759,000, down from HKD 235,498,000 at the end of June 2020[12] Investments and Financial Assets - The company reported a net loss from the fair value of financial assets of HKD 21,928 for the period[1] - The company recorded a net loss of HKD 52,277,000 from unrealized losses on financial assets measured at fair value through profit or loss, compared to HKD 11,934,000 in the previous year[10] - The company reported a realized loss of HKD 21.93 million from financial assets measured at fair value through profit or loss, compared to zero in the same period last year[80] - The unrealized loss from financial assets measured at fair value through profit or loss increased from HKD 11.93 million to HKD 52.28 million[80] - As of June 30, 2021, the company held listed securities valued at HKD 552.84 million, down from HKD 682.14 million as of December 31, 2020[82] Shareholder Information - Major shareholders include Sui Guangyi with 347,612,800 shares, representing approximately 26.06% of the issued share capital[95] - The company is controlled by Ding Yi Feng International Holdings Limited, which holds 198,030,400 shares, representing a significant ownership stake[96] - The total issued and paid-up ordinary shares increased to 1,333,796,000 shares as of June 30, 2021, from 1,236,722,000 shares as of January 1, 2020[49] Corporate Governance - The audit committee consists solely of independent non-executive directors, responsible for reviewing and supervising the financial reporting process[102] - The company has complied with all applicable provisions of the corporate governance code during the reporting period, with one exception regarding the attendance of the chairman at the annual general meeting[101] - The chairman of the board did not attend the annual general meeting held on May 13, 2021, due to unforeseen circumstances[101] - The company has confirmed that all directors have complied with the standards set out in the code of conduct for securities transactions during the reporting period[99] Employee and Management Information - Total employee costs, including directors' remuneration, amounted to HKD 9,289 million for the six months ended June 30, 2021, down from HKD 9,655 million in the same period of 2020, a reduction of 3.8%[21] - The total remuneration for key management personnel for the six months ended June 30, 2021, was HKD 3,419,000, a slight decrease from HKD 3,462,000 in the previous year[56] - The group had 24 employees and 8 directors as of June 30, 2021, with a compensation policy aligned with current market practices[90] Strategic Focus - The company will focus on the Chinese market and adopt a prudent strategy to manage its investment portfolio amid a challenging investment environment[92] - The company has established risk management procedures to identify, measure, monitor, and control various risks associated with its investment portfolio[84] - The company’s investment strategy is categorized into long-term holdings, mid-term private equity and venture capital, and short-term trading of securities and other financial instruments[83]

Financial Performance - The company reported a net profit of approximately HKD 283,393,000 for the year ended December 31, 2020, compared to a net loss of approximately HKD 250,771,000 in 2019[8]. - Total revenue for the year ended December 31, 2020, was HKD 950 million, a decrease of 28% from HKD 1,317 million in 2019[109]. - The group reported a profit before tax for 2020 of HKD 353,384,000, compared to a loss of HKD 273,474,000 in 2019, indicating a significant turnaround[187]. - The company reported a significant increase in unrealized gains of HKD 447,481 million, compared to a loss of HKD 153,534 million in the previous year[109]. - The basic earnings per share improved to HKD 21.88 from a loss of HKD 20.28 in 2019[109]. - The company reported a profit attributable to owners of HKD 283,393 million, compared to a loss of HKD 250,771 million in the previous year[110]. - The tax expense for the year was HKD 69,991,000, compared to a tax benefit of HKD 22,703,000 in 2019, marking a significant shift in tax position[186]. - The company reported no distributable reserves as of December 31, 2020, and December 31, 2019[45]. Investment Strategy - The company adopted a prudent strategy to manage its investment portfolio in response to the challenging investment environment caused by the COVID-19 pandemic[7]. - The company diversified its investment portfolio across e-commerce, internet services, high-tech industries, media, and property development and management[12]. - The company’s investment strategy is categorized into long-term holdings, mid-term private equity and venture capital, and short-term securities trading and other financial instruments[12]. - The company plans to continue seeking attractive long-term investment opportunities in light of global financial market volatility, focusing on investment objectives and policies[15]. - The board has taken a cautious yet proactive approach to manage the investment portfolio in the best interest of shareholders[9]. Financial Position - As of December 31, 2020, the company's net asset value rose to HKD 1,109,210 million, compared to HKD 87,932 million in 2019[113]. - Total assets less current liabilities increased to HKD 1,324,686 million from HKD 207,815 million, reflecting a substantial growth[111]. - The company's total equity increased significantly, with a net asset value per share rising to HKD 0.84 from HKD 0.07[113]. - The total cost of investments as of December 31, 2020, is HKD 178,683,000, with a total market value of HKD 611,024,000, resulting in confirmed cumulative unrealized gains of HKD 432,341,000[13]. - The group held major financial assets valued in RMB at approximately HKD 134,536,000 as of December 31, 2020, up from HKD 81,871,000 in 2019[22]. Shareholder Information - The major shareholders include Hong Kong Ding Yi Feng International Holdings Group Limited with 198,030,400 shares, representing 14.91% of the issued share capital[51]. - Ms. Ma holds a total of 209,750,400 shares, which accounts for approximately 15.80% of the issued share capital[52]. - Mr. Sui Guangyi is a significant shareholder with 347,612,800 shares, representing 26.18% of the issued share capital[52]. - The company has stock options with an exercise price of HKD 0.729 and HKD 0.808, with exercise periods extending to 2026 and 2027[49]. Corporate Governance - The company complied with all applicable provisions of the corporate governance code during the year, except for the absence of the chairman at the annual general meeting[30]. - The board of directors includes six executive and independent non-executive members, with no service contracts that prevent them from resigning within a year[46]. - The company has not established any arrangements for directors to benefit from acquiring shares or bonds of the company or any other entity[55]. - The audit committee is composed of independent non-executive directors and is responsible for overseeing the company's financial reporting and internal control processes[59]. - The company maintained sufficient public float as required by listing rules during the year ended December 31, 2020[64]. Employee Information - The company had 35 employees as of December 31, 2020, an increase from 20 employees in 2019[28]. - Total employee costs, including director remuneration, increased to HKD 21,148,000 in 2020 from HKD 17,935,000 in 2019, reflecting a rise of approximately 18%[188]. - The total remuneration for directors in 2020 was HKD 7,620,000, compared to HKD 8,237,000 in 2019, showing a decrease of approximately 7.5%[188]. - The highest-paid employee, not a director, received a total compensation of HKD 1,512,000 in 2020, up from HKD 1,179,000 in 2019, indicating a 28% increase[193]. Audit and Compliance - The independent auditor confirmed that the consolidated financial statements fairly reflect the group's financial position as of December 31, 2020[97]. - The auditor's report indicated that the financial statements were prepared in accordance with the Hong Kong Financial Reporting Standards and accurately reflected the company's financial position[104]. - The auditor emphasized the importance of internal controls in preventing material misstatements due to fraud or error in the financial statements[105]. - The company appointed Tianjian International CPA Limited as its auditor for the year ended December 31, 2020, following the resignation of the previous auditor[69]. Capital Expenditures - The company made capital expenditures of 478,701,000 HKD in 2020, compared to 5,093,000 HKD in 2019, indicating a substantial increase in investment[182]. - The depreciation expense for the year was HKD 9,793,000, which is part of the overall asset management strategy[199]. Taxation - The group had no taxable profits in Hong Kong for the year, resulting in no provision for Hong Kong profits tax[187]. - The group’s deferred tax expense for the year was HKD 69,991,000, compared to a tax benefit of HKD 22,703,000 in the previous year[186].

Financial Performance - Revenue for the six months ended June 30, 2020, was HKD 451 million, a decrease of 25.2% compared to HKD 603 million in the same period of 2019[2] - The net loss attributable to the owners of the company for the period was HKD 71,250 million, compared to a net loss of HKD 174,279 million in the same period of 2019, representing a 59% improvement[4] - The company reported a basic and diluted loss per share of HKD 5.59, down from HKD 14.10 in the previous year[2] - The total comprehensive loss for the period was HKD 73,784 million, compared to HKD 174,279 million in the same period of 2019[4] - The company recorded a net unrealized loss on financial assets measured at fair value through profit or loss of HKD 11,934 million, compared to a loss of HKD 137,239 million in the previous year[2] - The group reported a loss attributable to owners of the company of HKD (71,250) million for the six months ended June 30, 2020, compared to a loss of HKD (174,279) million in the same period of 2019, reflecting an improvement of 59.0%[31] - The company recorded a loss of approximately HKD 71.3 million for the six months ended June 30, 2020, a decrease of 59.1% compared to a loss of HKD 174.3 million for the same period in 2019[85] Assets and Liabilities - Total assets less current liabilities as of June 30, 2020, amounted to HKD 770,852 million, significantly up from HKD 207,815 million as of December 31, 2019[6] - The company's net asset value increased to HKD 650,640 million from HKD 87,932 million at the end of 2019, reflecting a substantial growth in equity[6] - Total assets as of June 30, 2020, amounted to HKD 523,427 million, compared to HKD 932,290 million as of December 31, 2019, indicating a decrease of 43.8%[22] - The company's total liabilities decreased, reflecting improved financial management and operational efficiency[10] - The company's capital debt ratio was 37.4% as of June 30, 2020, significantly improved from 303.5% as of December 31, 2019[90] Cash Flow and Financing - The net cash outflow from operating activities was HKD 70,698,000, significantly lower than the inflow of HKD 143,304,000 in the previous year[11] - The company recorded a net cash inflow from financing activities of HKD 134,906,000, compared to a net outflow of HKD 117,756,000 in the prior year[13] - The company’s cash and cash equivalents increased to HKD 135,952 million from HKD 121,398 million at the end of 2019[5] - Cash and cash equivalents at the end of the period stood at HKD 235,498,000, down from HKD 322,791,000 at the end of June 2019, a decrease of 27.0%[13] - The company’s interest-bearing bonds as of June 30, 2020, totaled HKD 186,697,000, down from HKD 217,586,000 at the end of 2019[61] Employee and Management Costs - Total employee costs, including directors' remuneration, were HKD 9,655 million for the six months ended June 30, 2020, an increase of 10.5% from HKD 8,737 million in 2019[25] - The total remuneration for key management personnel for the six months ended June 30, 2020, was HKD 3,462,000, a decrease from HKD 3,939,000 in the same period of 2019[73] Dividends and Share Capital - The company did not recommend the payment of an interim dividend for the six months ended June 30, 2020, consistent with the previous year[29] - The total number of issued and paid-up ordinary shares increased to 1,303,090,000 as of June 30, 2020, from 1,236,722,000 at the beginning of the year, following a placement of 66,368,000 shares[65] - The company issued 66,368,000 ordinary shares at HKD 2.75 per share, raising a total of HKD 182,512,000 on March 17, 2020[92] Investments and Financial Assets - The company’s investment in listed equity securities in Hong Kong amounted to HKD 65,507,000 as of June 30, 2020, compared to HKD 59,139,000 at the end of 2019, reflecting an increase of approximately 11%[42] - The fair value of listed equity securities measured at fair value through profit or loss was approximately HKD 135,952,000 as of June 30, 2020, compared to HKD 121,398,000 as of December 31, 2019[87] - The company held non-listed equity securities valued at HKD 956,000 as of December 31, 2019, which were not present in the June 30, 2020 report, indicating a potential divestment[37] - The company did not receive any dividends from its investments during the reporting period, indicating a focus on reinvestment[47] Market and Economic Context - The company reported a GDP decline of 6.8% in Q1 2020, followed by a recovery with a growth of 3.2% in Q2 2020, indicating a V-shaped recovery trend[98] - The International Monetary Fund (IMF) forecasts a global GDP contraction of 4.9% for 2020, an increase from the previously estimated 3% decline[98] Governance and Compliance - The audit committee is currently composed solely of independent non-executive directors, including Ms. Jing Siyuan (Chair), Mr. Zhang Aimin, and Mr. Zhang Qiang[110] - The interim unaudited results and unaudited condensed consolidated financial information for the period have been reviewed by the audit committee and approved by the board on August 11, 2020[110] - The company has adopted the standard code of conduct for securities transactions and confirmed compliance by all directors during the reporting period[108]

Financial Performance - For the year ended December 31, 2019, the company reported a net loss of approximately HKD 250,771,000, compared to a net income of HKD 128,556,000 in 2018[8]. - The unrealized loss on financial assets measured at fair value through profit or loss was approximately HKD 153,534,000, a significant decline from the unrealized gain of HKD 128,200,000 in 2018[8]. - China Smart Group Holdings Limited reported a consolidated loss attributable to owners of approximately RMB 56.69 million for the year ended December 31, 2018, with a basic loss per share of RMB 0.0117[19]. - For the six months ended June 30, 2019, China Smart Group reported an unaudited consolidated loss of approximately RMB 6.11 million, with a basic loss per share of RMB 0.0011[19]. - AAC Technologies Holdings Inc. achieved a consolidated profit attributable to owners of approximately RMB 3.80 billion for the year ended December 31, 2018, with a basic earnings per share of RMB 3.11[20]. - For the six months ended June 30, 2019, AAC Technologies reported an unaudited consolidated profit of approximately RMB 769.81 million, with a basic earnings per share of RMB 0.64[20]. - Sunny Optical Technology Group Co., Ltd. reported a consolidated profit attributable to owners of approximately RMB 2.49 billion for the year ended December 31, 2018, with a basic earnings per share of RMB 2.2792[21]. - For the six months ended June 30, 2019, Sunny Optical reported an unaudited consolidated profit of approximately RMB 1.43 billion, with a basic earnings per share of RMB 1.3079[21]. - Alibaba Group Holding Limited reported a net income attributable to ordinary shareholders of approximately RMB 87.60 billion for the year ended March 31, 2019, with earnings per share of RMB 4.24[22]. - Rainbow Display Devices Co., Ltd. reported a consolidated profit attributable to owners of approximately RMB 61.02 million for the year ended December 31, 2018, with a basic earnings per share of RMB 0.02[23]. - For the six months ended June 30, 2019, Rainbow reported an unaudited consolidated loss of approximately RMB 241.48 million, with a basic loss per share of RMB 0.067[23]. - Tianma Bearing Group Co., Ltd. reported a consolidated loss attributable to owners of approximately RMB 634.98 million for the year ended December 31, 2018, with a basic loss per share of RMB 0.53[24]. - For the year ended December 31, 2018, the audited consolidated profit attributable to owners was approximately RMB 654,000, with earnings per share of RMB 0.0018[25]. - For the six months ended June 30, 2019, the unaudited consolidated profit attributable to owners was approximately RMB 756,000, with earnings per share of RMB 0.0021[25]. - The company reported a total revenue of 149,582,400 shares held by Sui Guangyi, representing 12.10% of the total shares[60]. - The company did not recommend any final dividend for the year ending December 31, 2019[55]. - The company reported a net loss attributable to shareholders of HKD (250,770,742) for the year ended December 31, 2019, compared to a profit of HKD 128,556,294 in 2018[178]. - The basic loss per share was HKD (20.28), while the diluted loss per share was HKD (20.28) for the year 2019[178]. - Total comprehensive loss attributable to shareholders amounted to HKD (256,154,564) for the year, compared to a total comprehensive income of HKD 129,096,491 in the previous year[178]. Investment Strategy - The investment strategy is categorized into long-term holdings, mid-term private equity and venture capital, and short-term trading of securities and other financial instruments[12]. - The company’s portfolio primarily focused on e-commerce, internet services, and high-tech industries during the fiscal year[12]. - The board has adopted a prudent strategy to manage the investment portfolio amid these challenging conditions[9]. - The board will continue to seek attractive long-term investment opportunities amid global financial market volatility[26]. - The company plans to adopt a prudent strategy to manage its investment portfolio amid ongoing trade tensions and economic uncertainties in 2020[38]. - The company’s investment strategy will be cautious in light of the global economic slowdown concerns due to Brexit and the upcoming U.S. presidential election[38]. Economic Environment - The economic environment in Hong Kong faced significant challenges due to anti-government protests, leading to a retail sales decline and the first recession in a decade[7]. - The ongoing US-China trade war and geopolitical tensions in the Middle East have further pressured the global economy[7]. Corporate Governance - The company has complied with all applicable provisions of the corporate governance code as of December 31, 2019, with one noted deviation regarding the attendance of the chairman at the annual general meeting[42]. - The company has confirmed that all independent non-executive directors are independent individuals as per listing rules[81]. - The audit committee is composed solely of independent non-executive directors, ensuring compliance with listing rules[71]. - The board consists of two executive directors, three non-executive directors, and three independent non-executive directors, with all directors responsible for the company's management and operations[86]. - The attendance rate for the board meetings in 2019 was 100% for all executive directors, while non-executive directors had varying attendance rates[89]. - The company established a risk management committee and an investor relations committee to enhance corporate governance in April 2016[87]. - The roles of chairman and CEO are held by two independent individuals to ensure a balance of power and responsibilities[92]. - The company retained the audit committee, remuneration committee, and nomination committee to oversee relevant aspects of its affairs in 2019[94]. - The independent non-executive director, Ms. Jing Siyuan, possesses appropriate professional accounting qualifications and financial management expertise[87]. - The audit committee reviewed the consolidated financial statements for the year ended December 31, 2019, and recommended the reappointment of the auditor, Heng Jian, for the upcoming annual general meeting[95]. - The remuneration committee held two meetings in 2019 to discuss the remuneration of directors and senior management, providing recommendations for discretionary bonuses[97]. - The nomination committee also held two meetings in 2019 to review the board's structure and diversity policy, ensuring compliance with the company's strategy[100]. - The company has a policy for the appointment and re-election of non-executive directors, with all independent non-executive directors appointed for a three-year term[93]. - The company secretary, Ms. Kang Liping, has participated in over 15 hours of relevant professional training during the year[103]. - The directors are aware of their responsibilities to prepare the consolidated financial statements in accordance with statutory requirements and applicable accounting standards[104]. - The company adhered to the corporate governance code as per the listing rules for the year ending December 31, 2019, with the exception of the chairman's absence at the annual general meeting[83]. - All directors confirmed compliance with the standard code for securities trading throughout the year ending December 31, 2019[84]. Financial Position - The company’s total assets and liabilities as of December 31, 2019, reflect the impact of the adverse market conditions on its financial performance[8]. - As of December 31, 2019, the group's bank balances and cash amounted to approximately HKD 208,065,000, representing 55.6% of total assets[32]. - The group's capital debt ratio as of December 31, 2019, was approximately 303.5%[32]. - As of December 31, 2019, the group had no capital commitments[33]. - As of December 31, 2019, the group had no pledged assets or significant contingent liabilities[34]. - The group had major financial assets valued in RMB of approximately HKD 81,871,000 and in USD of approximately HKD 25,085,000 as of December 31, 2019[35]. - The company’s net asset value was HKD 368,821,064 as of December 31, 2019, compared to HKD 368,821,064 in 2018[181]. - The company’s total equity remained stable at HKD 368,821,064, with a net asset value per share of HKD 0.30[181]. - The company reported a significant decrease in financial assets measured at fair value through profit or loss, dropping to HKD 121,398,262 in 2019 from HKD 226,126,899 in 2018[179]. - The company’s total liabilities decreased to HKD 1,000,000,000 from HKD 1,200,000,000 in the previous year, indicating improved financial stability[188]. Environmental, Social, and Governance (ESG) Initiatives - The company is committed to reducing greenhouse gas emissions and managing energy consumption effectively[115]. - The company has established a robust environmental, social, and governance management system to meet operational requirements[115]. - The company aims to enhance environmental awareness among employees through regular communication[115]. - The company has not faced any significant fines or legal actions related to environmental protection[116]. - The report covers the company's environmental and social performance for the fiscal year ending December 31, 2019[108]. - The company emphasizes the importance of stakeholder engagement in its sustainability efforts[109]. - The company reported a total carbon dioxide equivalent emission of 57,448 kg for the fiscal year 2019, with a density of 2,127.7 kg[119]. - The company generated a total of 6,577 kg of municipal waste in the fiscal year 2019[124]. - The company consumed 23,408 kWh of electricity in the fiscal year 2019, with a density of 867.0 kWh[128]. - The company utilized 14,968 liters of unleaded gasoline in the fiscal year 2019, with a density of 554.4 liters[128]. - The company aims to reduce its carbon footprint and ecological footprint by adopting sustainable environmental measures[117]. - The company encourages employees to turn off machines and equipment when not in use to promote energy conservation[118]. - The company has implemented a waste management policy focused on achieving a green, paperless operation[120]. - The company emphasizes the importance of resource conservation and has initiated policies to enhance energy-saving awareness[125]. - The company recognizes the increasing consumer sensitivity to sustainability and aims to integrate low-carbon concepts into its operations[129]. - The company is committed to ensuring compliance with applicable environmental laws and regulations among its business partners[129]. - The company has established a whistleblowing policy to encourage employees to report unethical behavior, ensuring protection against retaliation[149]. - The company adheres to high standards of business ethics, with no concluded anti-corruption cases reported during the period[150]. - The company is committed to environmental protection and has policies in place to manage its impact on natural resources[155]. - The company has implemented measures to reduce emissions, although specific emission reduction figures were not disclosed[156]. - The company has not generated any hazardous waste from its core business operations[156]. Employee Management and Development - The company emphasizes the importance of experienced and competent employees for long-term growth and development, implementing fair and equitable recruitment and HR policies[130]. - As of December 31, 2019, the total number of employees was divided by gender: 48% male and 52% female[133]. - The employee distribution by age group as of December 31, 2019, was: 11% under 30 years, 56% between 30-50 years, and 33% over 50 years[134]. - The company maintained a zero-tolerance policy for accidents and injuries, with no work-related deaths or injuries reported during the fiscal year 2019[137]. - The company provides competitive compensation packages, including medical insurance and performance bonuses, to attract and retain experienced employees[131]. - The company adheres to applicable labor laws and regulations in Hong Kong, ensuring compliance with employment standards and providing competitive wages[131]. - The company promotes a safety culture and has implemented various measures to ensure a healthy and safe working environment[135]. - Continuous employee training and development are prioritized to enhance skills and meet business objectives[136]. - The company has not recorded any significant labor violations during the reporting period[131]. - The employee distribution by employment level as of December 31, 2019, was: 37% senior and 63% intermediate[134]. - The average training hours per employee during the reporting period was 0.04 hours[141]. - Senior management employees received an average of 5.5 training hours, while middle management employees received 0 hours[141]. - The training participation rate for senior management employees was 100%, while it was 0% for middle management employees[141]. - Male employees had an average training hour of 2.31, while female employees had 1.79 hours[141]. - The training participation rate for male employees was 53.9%, and for female employees, it was 21.4%[141]. - The company emphasizes a harmonious corporate culture as a key driver for healthy development[142]. - The company strictly prohibits child labor and forced labor, ensuring compliance with relevant laws and regulations[143]. - The company has established a supplier selection mechanism to ensure compliance with safety, environmental, and social regulations[144]. Community Engagement - The company sponsored a total of HKD 70,000 for various charitable activities during the reporting period[152]. - The company participated in the "Cages Home and Old Private Housing" project, sponsoring HKD 50,000 to improve living conditions for Hong Kong residents[152]. - The company engaged in community service activities, including support for the Ronald McDonald House Charities, aligning with its mission to provide family support[151]. - The company actively collaborates with local non-profit organizations to enhance community welfare and support vulnerable groups[150].

Financial Performance - The company reported a revenue of HKD 603,022 for the six months ended June 30, 2019, compared to HKD 36,337,968 in the same period of 2018, indicating a significant decline[3]. - The net loss attributable to the company's owners for the period was HKD 174,278,996, a stark contrast to a profit of HKD 6,053,254 in the prior year[4]. - Basic and diluted loss per share for the period was HKD (14.10), compared to earnings of HKD 0.50 in the same period last year[3]. - The company reported a pre-tax loss of HKD 193,743,828 for the six months ended June 30, 2019, compared to a profit of HKD 6,053,254 in the same period of 2018[9]. - The company recorded a loss of HKD 174,300,000 for the period, compared to a profit of HKD 6,100,000 for the same period in 2018, primarily due to unrealized losses on financial assets measured at fair value through profit or loss amounting to HKD 137,239,000[91]. Assets and Liabilities - Total assets less current liabilities decreased to HKD 345,145,339 as of June 30, 2019, down from HKD 588,631,335 at the end of 2018[7]. - The company's net asset value dropped to HKD 169,807,625 from HKD 368,821,064 at the end of 2018[7]. - The group's total liabilities as of June 30, 2019, amounted to HKD 348,214,378, compared to HKD 448,991,948 in 2018, showing a decrease of approximately 22.5%[32]. - The company has no overdue or impaired financial assets, indicating a stable credit risk profile[46]. Cash Flow and Investments - The company reported a net cash and cash equivalents of HKD 147,490,122, down from HKD 226,126,899 at the end of 2018[6]. - The net cash generated from operating activities was HKD 143,124,258, a significant improvement from HKD (288,077,372) in the previous year[11]. - The company recorded a net cash outflow from investing activities of HKD (7,383,021) compared to a net inflow of HKD 136,313,068 in the same period of 2018[12]. - Financing activities resulted in a net cash outflow of HKD (117,755,979) for the first half of 2019, contrasting with a net inflow of HKD 110,662,847 in the previous year[12]. - The company’s cash and cash equivalents increased to HKD 322,791,375 as of June 30, 2019, up from HKD 96,563,721 at the end of June 2018[12]. Financial Assets and Liabilities - The company reported financial assets measured at fair value through profit or loss of HKD 147,490,122 as of June 30, 2019, down from HKD 226,126,899 as of December 31, 2018[47]. - The fair value of unlisted investments in equity securities decreased to HKD 2,122,501 as of June 30, 2019, from HKD 2,302,207 as of December 31, 2018[42]. - The company sold 6% of its stake in Zhongtou International Securities for HKD 1,415,000 during the period, with no realized gains or losses from the sale[44]. Corporate Governance and Strategy - The audit committee, composed entirely of independent non-executive directors, reviewed the interim results and financial information for the period[117]. - The company has complied with all applicable provisions of the corporate governance code during the reporting period, except for the absence of the chairman at the annual general meeting[116]. - The company plans to adopt a cautious strategy to manage its investment portfolio amid global economic uncertainties[105]. - The company plans to explore new strategies for market expansion and product development in the upcoming periods[1]. Shareholder Information - The weighted average number of ordinary shares in issue for basic loss per share calculation was 1,236,722,000 for the six months ended June 30, 2019, compared to 1,217,722,000 for the same period in 2018[38]. - As of June 30, 2019, Mr. Sui held 149,582,400 shares, representing approximately 12.10% of the company[106]. - The total shares held by Hong Kong Ding Yi Feng International Holdings Group Limited amounted to 198,030,400, accounting for approximately 16.01% of the company[110]. - The company had a total of 1,236,722,000 shares issued and paid up as of June 30, 2019[73]. Employee and Management Costs - The total employee costs, including directors' remuneration, for the six months ended June 30, 2019, were HKD 8,737,062, an increase from HKD 8,293,985 in 2018, reflecting a rise of about 5.3%[34]. - The total remuneration for key management personnel for the six months ended June 30, 2019, was HKD 3,938,673, compared to HKD 3,552,440 for the same period in 2018, reflecting an increase of approximately 10.9%[79]. Lease and Accounting Policies - The company has adopted Hong Kong Financial Reporting Standard 16, which replaces HKAS 17, impacting the accounting policies related to leases[17]. - The company recognizes right-of-use assets at the lease commencement date, measured at cost, minus any accumulated depreciation and impairment losses[19]. - For short-term leases and low-value asset leases, the company applies recognition exemptions, recognizing lease payments as expenses on a straight-line basis over the lease term[18]. - The initial measurement of lease liabilities is based on the present value of unpaid lease payments at the lease commencement date[24]. - The company will reassess lease liabilities when there are changes in lease terms or assessments of purchase options, using revised discount rates for remeasurement[26].

Financial Performance - The company reported a net revenue of approximately HKD 128,556,000 for the year ended December 31, 2018, compared to a net loss of approximately HKD 155,077,000 in 2017, marking a turnaround from loss to profit[6]. - The increase in profit was primarily due to a rise in dividend income from investments in China Investment Holdings Limited, amounting to HKD 36,328,872 received during the year[6]. - The company reported a final dividend of HKD 0.02 per share for the year ending December 31, 2018[49]. - The net profit attributable to the company's owners for the year was HKD 128,556,294, a recovery from a loss of HKD 155,077,211 in the previous year[145]. - Basic earnings per share for 2018 was HKD 10.51, compared to a loss per share of HKD 13.09 in 2017, reflecting improved profitability[144]. - The total comprehensive income attributable to the owners for the year was HKD 129,096,491, compared to a loss of HKD 157,480,251 in 2017, showing a significant turnaround[145]. Investment Activities - The company sold 15% of its stake in China Investment Holdings Limited for HKD 15,000,000, resulting in realized gains from financial assets measured at fair value through other comprehensive income[6]. - The net realized gains from financial assets measured at fair value through profit or loss increased from approximately HKD 2,202,000 to approximately HKD 23,661,000, attributed to investments in listed securities[7]. - The unrealized gains from financial assets measured at fair value through profit or loss increased by approximately HKD 128,200,000, compared to an unrealized loss of approximately HKD 41,183,000 in 2017[7]. - The company aims to act in the best interests of shareholders through its investment objectives and policies[8]. - The company has invested HKD 40,310,886 in China Smart Group Holdings Limited, with a cost basis of HKD 40,310,886[11]. Financial Position - As of December 31, 2018, the group's cash and cash equivalents amounted to approximately HKD 304,217,000, representing 37.2% of total assets, compared to 49.0% in 2017[24]. - The capital debt ratio as of December 31, 2018, was approximately 111.5%, significantly improved from 505.8% in 2017[24]. - The net asset value increased from HKD 82,203,063 in 2017 to HKD 562,886,833 in 2018, reflecting a growth of around 585.5%[146]. - The company's equity increased from HKD 45,548,848 in 2017 to HKD 368,821,064 in 2018, a rise of approximately 707.5%[148]. - Cash and cash equivalents surged from HKD 138,446,606 in 2017 to HKD 304,217,191 in 2018, marking an increase of about 119.5%[146]. Corporate Governance - The board of directors includes both executive and non-executive members, with a total of 9 directors listed[53]. - The company has adhered to the corporate governance code as outlined in the Stock Exchange Listing Rules as of December 31, 2018[36]. - The audit committee is composed solely of independent non-executive directors, ensuring compliance with listing rules[64]. - The company has established various committees, including an audit committee, remuneration committee, and nomination committee, to enhance corporate governance[76]. - The chairman and CEO roles are separated to ensure a balance of power and responsibilities within the company[80]. Environmental Responsibility - The company reported greenhouse gas emissions of 32,766 kg CO2 equivalent for the year 2018[99]. - The company implemented energy-saving measures, including the installation of LED lighting systems and encouraging employees to turn off equipment when not in use[98]. - The company is committed to maintaining high environmental standards and has allocated human and financial resources for environmental protection[97]. - The company has established waste management principles to effectively manage all waste generated during operations[100]. - The total amount of non-hazardous waste generated in 2018 was 9,500 kg[102]. Employee Relations - As of December 31, 2018, the company had 31 employees, an increase from 30 employees in 2017, maintaining good relations with its staff[34]. - The gender distribution of employees as of December 31, 2018, was 38% male and 62% female[114]. - The average training hours per employee was 1.08 hours in 2018, with 100% of senior management employees receiving training[120]. - The group adheres to strict labor standards, ensuring no incidents of child or forced labor occurred during the reporting period[122]. - The group reported zero work-related fatalities and injuries in 2018, maintaining a work-related death rate of 0%[117]. Financial Reporting Standards - The company adopted HKFRS 15, which establishes a five-step model for revenue recognition from customer contracts, effective January 1, 2018[156]. - The implementation of HKFRS 9 resulted in changes to the classification and measurement of financial assets and liabilities, effective January 1, 2018[157]. - The group anticipates that the application of other new and revised Hong Kong Financial Reporting Standards will not have a significant impact on the consolidated financial statements in the foreseeable future[167]. - The company recognizes share-based payments at fair value on the grant date, with expenses amortized over the vesting period[190]. - Financial assets and liabilities are recognized when the company becomes a party to the contractual provisions of the instrument[194].