Financial Performance - For the six months ended June 30, 2024, the total revenue was HKD 53,446,000, a decrease of 18% compared to HKD 65,166,000 for the same period in 2023[1]. - The company reported a pre-tax loss of HKD 94,204,000 for the first half of 2024, compared to a pre-tax loss of HKD 30,486,000 in the same period of 2023, representing an increase in losses of 208%[1]. - The net loss for the period was HKD 94,291,000, compared to a net loss of HKD 31,118,000 in the previous year, indicating a significant increase in losses of 202%[2]. - The company's total comprehensive expenses for the period amounted to HKD 161,545,000, compared to HKD 31,142,000 in the same period last year, reflecting a substantial increase in expenses[2]. - The company reported a basic and diluted loss per share of HKD 9.63 for the first half of 2024, compared to HKD 3.25 for the same period in 2023, indicating a significant increase in loss per share[2]. - The company reported a net loss of HKD 94,291,000 for the six months ended June 30, 2024, compared to a net loss of HKD 31,118,000 for the same period in 2023[11][19]. - The group recorded a consolidated loss before tax of approximately HKD 94,200,000, compared to a loss of about HKD 30,500,000 in 2023[34]. - The group’s loss attributable to shareholders for the period was approximately HKD 91,100,000, compared to HKD 30,700,000 in 2023[34]. Assets and Equity - The total assets as of June 30, 2024, were HKD 1,755,239,000, a decrease from HKD 1,911,892,000 as of December 31, 2023[4]. - The company's equity attributable to owners was HKD 1,457,360,000 as of June 30, 2024, down from HKD 1,615,664,000 at the end of 2023, representing a decline of 10%[4]. - The company’s non-current assets totaled HKD 953,626,000 as of June 30, 2024, down from HKD 1,118,613,000 at the end of 2023, reflecting a decrease of 15%[3]. - The net asset value as of June 30, 2024, was approximately HKD 1,745,600,000, a decrease of about HKD 161,500,000 from the end of the previous fiscal year[47]. Cash and Receivables - The company’s cash and cash equivalents stood at HKD 42,534,000 as of June 30, 2024, compared to HKD 38,517,000 at the end of 2023, showing a slight increase of 10%[3]. - Trade receivables from margin clients increased to HKD 653,227,000 as of June 30, 2024, from HKD 636,419,000 as of December 31, 2023, representing a growth of 2.6%[24]. - Total other receivables amounted to HKD 177,394,000 as of June 30, 2024, compared to HKD 172,058,000 as of December 31, 2023, indicating an increase of 3.9%[25]. - The total amount of loans receivable was HKD 121,079,000 as of June 30, 2024, with an impairment provision of HKD 2,030,000, compared to HKD 133,125,000 and HKD 896,000 respectively as of December 31, 2023[28]. - The company reported a total of HKD 965,103,000 in receivables as of June 30, 2024, compared to HKD 953,316,000 as of December 31, 2023, reflecting a growth of 1.2%[25]. Impairment and Losses - The impairment loss on receivables for the period was HKD 24,446,000, compared to HKD 7,000,000 in the same period last year, indicating a significant increase in impairment losses[1]. - The company confirmed a provision for impairment losses of HKD 677,277,000 on trade receivables as of June 30, 2024, compared to HKD 639,948,000 as of December 31, 2023, representing an increase of 5.8%[24]. - The company has recognized an impairment provision of approximately HKD 2,000,000 for outstanding loans as of June 30, 2024, compared to HKD 900,000 as of December 31, 2023[40]. Revenue Breakdown - Interest income from margin clients amounted to HKD 35,558,000, while total interest income was HKD 42,810,000 for the six months ended June 30, 2024[14]. - The segment profit (loss) for the lending services was HKD 435,000, while the tactical and strategic investment segment reported a loss of HKD 88,152,000[10]. - The group’s segment revenue was approximately HKD 39,100,000, an increase of 32.0% from approximately HKD 29,600,000 in the previous period[37]. - Revenue from credit and lending services significantly dropped from approximately HKD 66,100,000 to about HKD 1,600,000, primarily due to a one-time bad debt recovery of HKD 42,000,000 in the previous period[39]. - The group faced significant pressure on its core business due to a volatile global environment and high interest rates, impacting revenue and profitability[36]. Dividends and Financing - The company did not declare an interim dividend for the six months ended June 30, 2024, compared to no dividend declared for the same period in 2023[22]. - The group did not declare any interim dividend for the six months ended June 30, 2024, consistent with the previous period[35]. - The company incurred financing costs of HKD 8,175,000 for the six months ended June 30, 2024, an increase from HKD 7,000,000 in the same period of 2023[18]. Corporate Governance and Future Plans - The company plans to apply for a license for leveraged foreign exchange trading under the Securities and Futures Ordinance by June 2024, with expectations of receiving formal approval by Q2 2025[38]. - The group maintained compliance with all corporate governance codes during the reporting period[60]. - The mid-term report will be published in September 2024 and sent to shareholders[63]. - The board expresses gratitude to management and employees for their contributions during the period[64].

Financial Performance - The group's revenue decreased by 27.0% to approximately HKD 113,400,000 compared to the previous year [38]. - The net loss attributable to shareholders increased by 716.1% to approximately HKD 140,100,000 [38]. - The group recorded a pre-tax loss of HKD 140,900,000 for the year, compared to a pre-tax profit of HKD 94,200,000 in the previous year [36]. - Margin loan interest income fell to approximately HKD 53,200,000 this year from HKD 59,500,000 last year, primarily due to a reduction in margin loan rates from 10% to 8% [16]. - Fair value losses on financial assets increased by approximately HKD 207,200,000, while interest income from loans decreased by approximately HKD 22,500,000 [36]. - The group's property investment and leasing segment recorded a loss of approximately HKD 232,200,000, compared to a loss of HKD 84,300,000 in the previous year, largely due to fair value losses on financial assets [20]. Asset Management and Investments - The group's asset management service revenue decreased to approximately HKD 3,700,000 in the current year, down from HKD 4,500,000 in the previous year, reflecting the impact of a sluggish stock market [16]. - The revenue from credit and lending services increased from approximately HKD 53,800,000 to approximately HKD 73,000,000, mainly due to bad debt recovery of about HKD 42,000,000 [18]. - The total amount of outstanding loans and accrued interest decreased from approximately HKD 687,300,000 to about HKD 133,100,000 by the end of the year [18]. - The investment in Green River Associates Limited accounted for approximately 9.8% of the group's total assets, with a carrying value of about HKD 214,300,000 [59]. - The group recognized a share of losses from Green River amounting to approximately HKD 20,500,000 for the year, compared to HKD 87,600,000 in 2022, indicating a significant reduction in losses [59]. - The investment in Green River was diluted from 33% to 31.37% due to the issuance of additional shares to another investor [78]. - The group also invested approximately HKD 83.4 million in three non-listed companies registered in the British Virgin Islands and the Marshall Islands, a significant increase from HKD 17.1 million in 2022 [81]. - The group's equity investments in ten Hong Kong listed companies amounted to approximately HKD 155.6 million, with no such investments reported in 2022 [81]. Financial Position and Management - As of December 31, 2023, the group's net asset value was approximately HKD 1,907,100,000, down from HKD 2,120,200,000 in 2022, representing a decrease of about 10% [72]. - The total assets and liabilities of the group were approximately HKD 2,184,400,000 and HKD 277,300,000, respectively, compared to HKD 2,412,700,000 and HKD 292,500,000 in 2022 [72]. - The debt-to-equity ratio increased to 13.0% from 1.7% in the previous year, primarily due to funding operations [51]. - The group has maintained a conservative financial policy regarding cash and financial management, primarily holding cash in short-term deposits in USD and HKD [25]. Future Outlook - The group anticipates that the property market will continue to recover, leading to stable and secure income generation in the future [22]. - The group expects the global economic environment to remain challenging, with inflation and interest rates projected to decline slightly in 2024 [14]. - The group anticipates gradual improvement in investment activity in 2024 and 2025 as mortgage rates are expected to decrease [45]. Corporate Governance and Management - The company has adopted and complied with the corporate governance code as per the Hong Kong Stock Exchange, with all directors confirming adherence to the standards set forth [84]. - The board consists of nine members, including four executive directors and four independent non-executive directors, ensuring a strong independent component [90]. - The company has no executive director appointed as CEO, with responsibilities delegated to the executive directors collectively [91]. - The board has committed to gender diversity in hiring practices, aiming to maintain a balanced representation of women in senior management roles [99]. - The company has established discretionary stock option and share award plans to motivate employee performance and enhance loyalty [106]. - The board has implemented a diversity policy to enhance the effectiveness of corporate governance practices, recognizing the importance of diverse perspectives [120]. - The company emphasizes the importance of maintaining a diverse board, considering factors such as gender, age, and professional experience [156]. Risk Management and Compliance - The company has engaged independent external internal control consultants to assess and provide recommendations for improving its internal control systems during the year [183]. - The company has conducted a thorough review of its risk management and internal control systems throughout the year [183]. - The company has established a robust internal monitoring procedure for its credit and lending services [184]. - The company has confirmed that there are no significant uncertainties regarding its ability to continue as a going concern as of December 31, 2023 [180]. - The company has maintained a consistent discount factor of 0.99 for the expected credit loss assessment, indicating stable risk management practices [191]. Community and Sustainability - The company is committed to sustainable development and environmental protection, integrating ESG considerations into its business operations [104]. - The company has engaged in community activities to strengthen its ESG management and ensure business development considers community interests [104]. - The board is committed to long-term sustainable development, integrating environmental, social, and governance (ESG) factors into business operations [133]. - The company has adopted an ESG policy to guide the management of related issues across all levels, ensuring high standards of business ethics and governance [134].

Financial Performance - Total revenue for the year 2023 was HKD 113,394,000, a decrease of 27% compared to HKD 155,327,000 in 2022[3] - The company reported a total comprehensive loss of HKD 163,142,000 for 2023, compared to a comprehensive income of HKD 9,535,000 in 2022[5] - Basic and diluted loss per share for 2023 was HKD 14.82, significantly higher than HKD 1.82 in 2022[7] - The company reported a total loss for the year of HKD 176,540,000, compared to a loss of HKD 1,532,000 in the prior year, marking a substantial increase in losses[23][24] - The company reported a net loss of HKD 140,145,000 for 2023, compared to a loss of HKD 17,172,000 in 2022, indicating a significant increase in losses[50] Revenue Breakdown - Asset management service revenue declined to HKD 3,673,000 from HKD 4,510,000, representing a decrease of 18.6%[3] - Corporate advisory service revenue fell to HKD 12,664,000, down 35% from HKD 19,508,000 in the previous year[3] - The financial services segment generated revenue of HKD 64,970,000, while the credit and lending services segment contributed HKD 30,944,000, indicating a significant drop in both segments compared to the previous year[23][24] - Financial advisory service revenue decreased to HKD 7,613,000 in 2023 from HKD 9,785,000 in 2022, representing a decline of 22%[37] - Interest income from margin clients was HKD 53,190,000 in 2023, down from HKD 59,510,000 in 2022, a decrease of 11%[39] Asset and Equity Changes - Non-current assets decreased to HKD 759,027,000 from HKD 1,118,613,000, indicating a reduction of 32.2%[9] - Total equity decreased to HKD 2,120,237,000 from HKD 1,907,095,000, reflecting a decline of 10.4%[9] - Total assets as of December 31, 2023, amounted to HKD 2,184,428,000, an increase from HKD 2,412,742,000 as of December 31, 2022[28] - The group's net asset value as of December 31, 2023, was approximately HKD 1,907.1 million, down from HKD 2,120.2 million in 2022[89] Liabilities and Financial Stability - Total liabilities decreased to HKD (277,333,000) in 2023 from HKD (292,505,000) in 2022, indicating improved financial stability[28] - The debt-to-equity ratio increased to 13.0% as of December 31, 2023, from 1.7% in 2022, primarily due to funding operations[95] Strategic Initiatives and Future Plans - The company plans to focus on expanding its financial services and property investment sectors in the upcoming year[10] - The company continues to explore new strategies for market expansion and product development, although specific details were not disclosed in the conference call[22] - The company plans to launch a pre-IPO platform named "Etreemart" for retail and corporate clients to trade new shares before official listing in Hong Kong[82] - The company plans to acquire the remaining non-controlling interests in Wutong Securities to unify ownership and enhance operational efficiency, with the acquisition expected to be completed by December 21, 2023[99] Operational Efficiency and Cost Management - The company aims to improve operational efficiency and reduce costs through strategic initiatives in the coming year[30] - The company aims to remain flexible in utilizing its resources to navigate the challenging economic environment ahead[71] Client and Market Dynamics - The company experienced a decrease in client numbers due to a slow recovery in the financial services market[72] - Major clients contributing over 10% of revenue included Client A with HKD 6,092,000 in 2023, down from HKD 7,251,000 in 2022[34] Corporate Governance and Sustainability - The company has adopted and complied with the corporate governance code as per the Hong Kong Stock Exchange's listing rules throughout the year ending December 31, 2023[110] - The company is committed to sustainable development and environmental protection, implementing practices to enhance resource efficiency and reduce emissions[113] - The company will publish its environmental, social, and governance report in the 2023 annual report, which will be available on its website and the designated exchange website[113] Employee and Shareholder Information - The group has 43 employees, including all directors, as of December 31, 2023[114] - The annual general meeting is scheduled for June 19, 2024, with a suspension of share transfer registration from June 14 to June 19, 2024[119] - The 2023 annual report will be published on the company's website and sent to shareholders in due course[121]

Financial Performance - Total revenue for the six months ended June 30, 2023, was approximately HKD 108.2 million, an increase of HKD 29.6 million or 37.7% compared to the same period in 2022[6]. - The group recorded a consolidated loss after tax of approximately HKD 31.1 million, compared to a profit of approximately HKD 9.5 million in the previous period[6]. - Core business pre-tax loss for the period was approximately HKD 15.4 million, down from a pre-tax profit of approximately HKD 42.4 million in the previous period[7]. - The overall revenue for the group during the period was approximately HKD 65,200,000, a decrease of about HKD 8,000,000 compared to the previous period[23]. - Total revenue for the six months ended June 30, 2023, was HKD 65,166,000, a decrease of 10.4% compared to HKD 73,191,000 in the same period of 2022[63]. - Total comprehensive loss for the period was HKD 31,142,000, compared to a comprehensive income of HKD 9,504,000 in the previous year[64]. - Basic and diluted loss per share was HKD (3.25), compared to earnings of HKD 0.31 per share in the same period last year[64]. - The company reported a net loss attributable to owners of HKD (30,690,000) compared to a profit of HKD 2,937,000 in the previous year[64]. Revenue Breakdown - Revenue from asset management services decreased to approximately HKD 1.9 million, down from approximately HKD 2.6 million in the previous period[12]. - Margin loan interest income fell to approximately HKD 24.5 million, down from approximately HKD 30.2 million in the previous period, primarily due to a decrease in margin loan rates[12]. - The financial services segment's revenue decreased by 20.2% to approximately HKD 29.6 million, down from approximately HKD 37.1 million in the previous period[13]. - The revenue from the lending and borrowing services segment increased from approximately HKD 25,700,000 to approximately HKD 66,100,000, primarily due to the recovery of bad debts amounting to HKD 42,000,000[17]. - The interest income from the lending business decreased to approximately HKD 24,100,000 from approximately HKD 25,100,000 in the previous year[23]. - The company’s asset management service revenue decreased to HKD 1,860,000 from HKD 2,586,000, a decline of approximately 28%[88]. - Corporate advisory service revenue fell to HKD 5,686,000, down 30.6% from HKD 8,195,000[63]. Assets and Liabilities - The group’s net asset value as of June 30, 2023, was approximately HKD 2,089,100,000, a decrease of about HKD 31,100,000 from the end of the previous fiscal year[25]. - The total assets as of June 30, 2023, amounted to HKD 2,376,988,000, an increase from HKD 2,412,742,000 as of December 31, 2022[84][85]. - The total liabilities as of June 30, 2023, were HKD 287,893,000, compared to HKD 292,505,000 at the end of 2022, indicating a slight decrease[85]. - The total outstanding principal and accrued interest not repaid is approximately HKD 507,300,000, with the largest borrower and the top five borrowers accounting for approximately 16% and 39% of the receivables, respectively[17]. - The aging analysis of receivables as of June 30, 2023, showed that HKD 504,519,000 was not overdue, down from HKD 686,714,000 as of December 31, 2022[105]. Cash Flow and Financing - For the six months ended June 30, 2023, the net cash used in operating activities was HKD (22,695) thousand, a significant improvement from HKD (362,869) thousand in the same period of 2022[71]. - The group reported a net cash outflow from investing activities of HKD (62,516) thousand, a decrease from a net cash inflow of HKD 99,829 thousand in the prior year[71]. - The group’s financing activities resulted in a net cash outflow of HKD (16,797) thousand, compared to a net cash inflow of HKD 111,547 thousand in the previous year[71]. - The cash and cash equivalents at the end of the reporting period were HKD 127,300 thousand, down from HKD 279,580 thousand at the end of June 2022[71]. Corporate Governance and Compliance - The company has complied with all corporate governance practices as per the Listing Rules during the reporting period[41]. - The company did not declare any interim dividends for the period, consistent with the previous year[8]. - The company has not established any arrangements that would allow directors to benefit from acquiring shares or debentures of the company during the period[53]. - The company has not disclosed any changes in director information since the last annual report[57]. Future Plans and Strategies - The group plans to launch a pre-IPO matching system for retail and corporate clients by September 2023, with internal testing completed in July 2023[14]. - The group has applied for additional licenses under the Securities and Futures Ordinance to expand its service offerings, with expected formal approval by mid-November 2023[14]. - Management anticipates that inflationary pressures may ease, and will continue to review and adjust strategies cautiously[10]. Employee and Shareholder Information - The company has 37 employees as of June 30, 2023, and offers various employee benefits including MPF, medical insurance, and discretionary training subsidies[40]. - As of June 30, 2023, major shareholders include Ms. Luo Qiyin, holding 633,535,440 shares, representing approximately 67.01% of the total issued share capital[55]. - The company has a share incentive plan in place that allows for the issuance of shares up to 10% of the issued share capital, with an annual limit of 3%[115]. Investment and Fair Value - The investment in Green River Associates Limited has been diluted from 33% to 31.37%, with a carrying value of approximately HKD 136.4 million as of June 30, 2023, representing about 5.7% of the total assets[34]. - The group's share of losses from Green River Marshall amounted to approximately HKD 18 million for the period, a decrease from HKD 32.9 million in the previous year, primarily due to fair value losses on investments[34]. - The fair value loss on financial assets recognized in profit or loss was HKD 70,534,000 for the first half of 2023, compared to HKD 7,490,000 in the same period of 2022[90]. - The fair value of financial assets measured at fair value through profit or loss increased to HKD 212,905,000 as of June 30, 2023, compared to HKD 161,576,000 as of December 31, 2022[107].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部分內容 而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 （於百慕達註冊成立之有限公司） （股份代號：613） 二零二三年中期業績（未審核） 梧桐國際發展有限公司（「本公司」）之董事（「董事」）會（「董事會」）公佈本公司及其附屬公 司（統稱「本集團」）截至二零二三年六月三十日止六個月之未審核綜合業績如下： 簡明綜合全面收入表 截至二零二三年六月三十日止六個月 截至六月三十日止六個月 二零二三年 二零二二年 附註 千港元 千港元 （未審核） （未審核） 收益 ...

香港交易及結算所有限公司及香港聯合交易所有限公司（「聯交所」）對本公告之內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因倚 賴該等內容而引致之任何損失承擔任何責任。 Planetree International Development Limited 梧 桐 國 際 發 展 有 限 公 司 （於百慕達註冊成立的有限公司） （股份代號：613） 有 關 截 至 二 零 二 二 年 十 二 月 三 十 一 日 止 年 度 之 年 報 的 補 充 公 告 茲提述梧桐國際發展有限公司（「本公司」，連同其附屬公司為「本集團」）截至二零 二二年十二月三十一日止年度之年報（「二零二二年年報」）。除另有註明者外，本公 告所用詞彙與二零二二年年報所界定者具有相同涵義。 除於二零二二年年報所披露之資料外，本公司謹此向本公司股東及公眾提供以下有 關本公司股份獎勵計劃（「股份獎勵計劃」）及放債業務（「放債業務」）之補充資料。 股份獎勵計劃 ...

Financial Performance - Total revenue for the year was approximately HKD 155.3 million, with other income of about HKD 13.3 million, totaling around HKD 168.6 million, a decrease of approximately HKD 37.2 million or 18.1% compared to the previous fiscal year[13] - The company recorded a consolidated loss after tax of approximately HKD 1.5 million, compared to a loss of HKD 15.3 million in the previous year[13] - Loss attributable to shareholders for the fiscal year was approximately HKD 17.2 million, an improvement from a loss of HKD 22.2 million in the previous year[13] - The decrease in loss was primarily due to an increase in fair value gains on financial assets of approximately HKD 6.9 million and a reversal of impairment losses on receivables totaling approximately HKD 12.7 million, compared to significant losses in the previous year[14] - Core business generated a profit before tax of HKD 94.2 million, compared to HKD 46.9 million in the previous year, indicating improved operational performance[14] - Basic and diluted loss per share for the year was HKD 0.0182, compared to HKD 0.0235 and HKD 0.0237 in the previous year[14] Revenue Breakdown - The group's asset management service revenue decreased to approximately HKD 4,500,000 in the current year, down from HKD 18,800,000 in the previous year, due to poor stock market performance[18] - Margin loan interest income reached approximately HKD 59,500,000, a decline from HKD 81,500,000 in the previous year, but still contributed significantly to offset the decrease in service revenue[18] - The overall revenue for the financial services segment was approximately HKD 75,000,000, down from HKD 111,400,000 in the previous year, with segment profit decreasing from approximately HKD 73,000,000 to HKD 66,700,000[19] - The credit and lending services segment reported an increase in revenue to approximately HKD 53,800,000, up from HKD 50,200,000 in the previous year, with segment profit rising to approximately HKD 57,700,000 from HKD 8,400,000[23] - The group’s property investment and leasing segment saw revenue increase to approximately HKD 9,400,000 from HKD 8,900,000, although it recorded a loss of approximately HKD 6,200,000 compared to a loss of HKD 4,700,000 in the previous year[25] - The tactical and strategic investment segment recorded revenue of approximately HKD 5,900,000, compared to a negative income of HKD 2,100,000 in the previous year, but incurred a loss of approximately HKD 84,300,000, up from HKD 62,100,000 in the previous year[26] Business Development - The group obtained a license for regulated activities under the Securities and Futures Ordinance to provide automated trading services, aiming to expand its client base and service offerings[20] - The group’s business network facilitated growth in corporate financing advisory services, contributing approximately HKD 9,800,000 in revenue, up from HKD 7,900,000 in the previous year[19] - The group plans to launch a platform for retail and corporate clients to trade new shares before their official listing in Hong Kong, enhancing its comprehensive financial services[20] Asset Management - The total fair value of the group's commercial properties held for leasing in Hong Kong was HKD 513,800,000, an increase from HKD 349,300,000 in the previous year[25] - The company's liquidity ratio as of December 31, 2022, was 5.8, an increase from 5.1 in the previous year[34] - The company's debt ratio as of December 31, 2022, was 1.7%, indicating a low level of debt relative to equity[36] - The net asset value of the company as of December 31, 2022, was approximately HKD 2,120,200,000, compared to HKD 1,936,100,000 in the previous year[32] Corporate Governance - The board of directors consists of seven members, with three executive directors and four independent non-executive directors, ensuring a balanced composition[54] - The board has retained key functions, including the appointment and dismissal of directors and senior management, and the review of risk management and internal control systems[62] - The board has conducted meetings to review corporate governance policies and compliance with legal and regulatory requirements[71] - The company has adopted a board diversity policy to enhance the effectiveness of the board and ensure compliance with listing rules and regulations[63] - The board confirmed that there were no significant uncertainties affecting the company's ability to continue as a going concern as of December 31, 2022[82] Risk Management - The company’s risk management and internal control systems were deemed effective, with annual reviews conducted by the board and audit committee[86] - The loan portfolio is regularly reviewed, with a comprehensive annual review of credit policies and monitoring procedures to safeguard the company's interests[88] - The expected credit loss assessment is based on the Hong Kong Financial Reporting Standards No. 9, utilizing a probability-weighted loss default model[95] - The independent internal control consultant found no significant violations or errors in the internal control system during their assessment[86] Environmental, Social, and Governance (ESG) - The company aims to reduce greenhouse gas emissions by 45% from the 2021 baseline by 2030[134] - The company is committed to integrating environmental, social, and governance (ESG) considerations into its business operations[124] - Key ESG issues identified include employee welfare, inclusivity, talent retention, and community investment[132] - The company has established an ESG policy to guide its operations and investment-related issues[125] - The company has implemented a green procurement policy, prioritizing environmentally friendly suppliers to minimize carbon emissions[151] Employee Engagement - The employee turnover rate for the year was 11.6%, with 5 employees leaving the company[144] - A total of 20 employees received training in 2022, representing 46.5% of the workforce, with 65.0% being male and 35.0% female[149] - The company provides comprehensive medical insurance covering outpatient, inpatient, and annual health check-ups for employees[148] Shareholder Communication - The company has established a shareholder communication policy to ensure timely and relevant information is provided to shareholders and the investment community[111] - The company regularly discloses financial reports, including interim and annual reports, to keep shareholders informed[114] - The board of directors encourages shareholder participation in annual general meetings, with all resolutions passed by voting since April 29, 2005[112]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概 不負責，對其準確性或完整性亦不發表任何聲明，並明確表示概不對因本 公告全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔 任何責任。 （於百慕達註冊成立的有限公司） （股份代號：613） 二零二二年全年業績 梧桐國際發展有限公司（「本公司」）之董事（「董事」）會（「董事會」）公佈本公 司及其附屬公司（統稱「本集團」）截至二零二二年十二月三十一日止年度之 綜合業績，連同二零二一年同期之比較數字如下： 綜合全面收入表 截至二零二二年十二月三十一日止年度 二零二二年 二零二一年 附註 千港元 千港元 收益 費用及佣金收入 435 1,861 資產管理服務收入 4,510 18,821 企業顧問服務收入 19,508 27,943 財務顧問服務收入 9,785 7,882 ...

Financial Performance - Total revenue for the six months ended June 30, 2022, was HKD 78,500,000, a decrease of HKD 23,200,000 or 23% compared to the same period in 2021[31] - The group recorded a profit attributable to shareholders of HKD 2,900,000, down from HKD 11,900,000 in the previous period[31] - The group's core business profit before tax, excluding losses from associates, was HKD 42,400,000, compared to HKD 49,100,000 in the previous period[31] - Total revenue for the period was HKD 73,200,000, a decrease of HKD 27,300,000 compared to the previous period[48] - Financial services income, including other financial services, totaled HKD 44,900,000, down from HKD 68,900,000 in the previous year[48] - The company reported a profit before tax of HKD 9,512,000, compared to HKD 21,226,000 in the previous year, reflecting a decline of 55%[86] - Total comprehensive income for the period was HKD 9,504,000, down from HKD 13,563,000 year-on-year[86] - The company reported a profit of HKD 2,937,000 for the period, contributing to a total comprehensive income of HKD 9,504,000 including non-controlling interests[91] - The company reported a profit of HKD 13,563,000 for the period, compared to a profit of HKD 38,305,000 in the previous year, reflecting a decline of 64.6%[117] - The pre-tax profit decreased significantly to HKD 2,937,000 compared to HKD 11,893,000 for the same period last year, marking a decline of about 75.3%[127] Revenue Breakdown - Asset management fee income decreased to HKD 2,600,000 from HKD 12,200,000 in the previous period[35] - Margin loan interest income fell to HKD 30,200,000 from HKD 44,900,000 in the previous period[35] - The group's financial services segment generated revenue of HKD 37,100,000, down from HKD 61,600,000 in the previous period[37] - The group’s profit from the financial services segment decreased from HKD 46,500,000 to HKD 37,800,000[37] - Asset management service income was HKD 2,586,000, down from HKD 12,176,000 year-on-year[86] - Corporate advisory service income increased to HKD 8,195,000 from HKD 7,368,000, while financial advisory service income rose to HKD 3,785,000 from HKD 3,162,000[86] - The company’s financial services segment generated revenue of HKD 61,566,000, a decrease from HKD 101,162,000 in the previous year, representing a decline of 39.1%[117] Dividends and Shareholder Returns - The board has decided not to declare any interim dividend for the period, consistent with the previous year[32] - The company did not recommend an interim dividend for the six months ended June 30, 2022, compared to zero for the same period last year[125] Assets and Liabilities - The group’s net asset value as of June 30, 2022, was HKD 2,120,200,000, an increase of HKD 184,100,000 from the previous fiscal year[50] - As of June 30, 2022, total assets amounted to HKD 2,124,576,000, an increase of 9.4% from HKD 1,942,406,000 as of December 31, 2021[89] - Current assets increased to HKD 1,801,477,000, up 17.1% from HKD 1,538,225,000 in the previous year[89] - The total equity attributable to owners of the company increased to HKD 1,750,824,000, a rise of 0.3% from HKD 1,745,577,000[91] - The current liabilities increased significantly to HKD 344,139,000, compared to HKD 303,266,000 in the previous year, indicating a rise of 13.5%[89] - The total receivables, including trade receivables and loans, amounted to HKD 1,391,886,000 as of June 30, 2022, up from HKD 977,912,000 at the end of the previous year[135] Investments and Strategic Activities - The group obtained a license for regulated activities under the Securities and Futures Ordinance to provide automated trading services on June 8, 2022[38] - The group plans to launch a platform for retail and corporate clients to trade new shares before their official listing in Hong Kong[38] - The group plans to launch a pre-IPO trading platform named Etreemart for retail and corporate clients[45] - The group recorded a loss of HKD 43,200,000 in tactical and strategic investments, compared to a loss of HKD 31,000,000 in the previous year[44] - The company completed a rights issue on February 24, 2022, raising a total of HKD 375,000,000 to strengthen cash position and support business growth[92] Employee and Management Information - The group employed 45 staff members as of June 30, 2022, and provided various employee benefits including MPF, medical insurance, and discretionary training subsidies[65] - The management's compensation for the six months ended June 30, 2022, was HKD 3,184,000, a decrease from HKD 4,436,000 in the same period of the previous year[161] Corporate Governance - The company confirmed compliance with the Corporate Governance Code and has no significant changes in its corporate governance practices during the reporting period[65] Cash Flow and Financing Activities - The net cash used in operating activities for the six months ended June 30, 2022, was (362,869) thousand HKD, compared to (261,488) thousand HKD in the previous year, representing an increase of 38.7%[97] - The financing activities generated a net cash inflow of 111,547 thousand HKD, a significant improvement from (8,026) thousand HKD in the previous year[97] Share Capital and Ownership - On June 7, 2022, the group issued 45,508,328 shares of PSL, representing 8.482% of PSL's enlarged share capital, for a cash consideration of HKD 50 million, diluting the group's ownership in PSL from 100% to approximately 91.518%[59] - The book value of non-controlling interests in PSL increased by HKD 50,000,000, which was directly recognized in the group's equity[158]

Financial Performance - Total revenue for the year was HKD 205.8 million, a decrease of HKD 37.8 million or 16% compared to the previous year[42]. - The company recorded a net loss of HKD 15.3 million after tax, compared to a profit of HKD 40.8 million in the previous year[42]. - Loss attributable to shareholders for the year was HKD 22.2 million, down from a profit of HKD 41.8 million in the previous year[42]. - The core financial services business operated steadily, but profitability declined mainly due to a decrease in non-recurring income from the sale of subsidiaries by HKD 47.7 million[42]. - The share of losses from an associated company amounted to HKD 55.2 million, compared to a profit of HKD 46.6 million in the previous year[42]. - Basic and diluted loss per share were HKD 0.0235 and HKD 0.0237 respectively, compared to earnings of HKD 0.0447 and HKD 0.0446 in the previous year[43]. - The board decided not to recommend a final dividend for the year ended December 31, 2021[44]. Business Segments - The company’s main business segments include financial services under the Securities and Futures Ordinance, providing securities trading, futures contract trading, and asset management services[47]. - Asset management fee income decreased to HKD 18,800,000 from HKD 51,700,000 in the previous year, reflecting a decline of approximately 63.6% due to weak market performance[48]. - Margin loan interest income increased to HKD 81,500,000 from HKD 59,500,000, representing a growth of about 36.9%[48]. - The division's total revenue for the year was HKD 111,400,000, slightly down from HKD 118,000,000, a decrease of approximately 5.6%[49]. - The division's profit dropped to HKD 69,200,000 from HKD 99,900,000, a decline of about 30.8% after accounting for impairment losses of HKD 24,100,000 on margin loans[49]. - The lending division's revenue increased to HKD 50,200,000 from HKD 26,900,000, marking a growth of approximately 86.5%[53]. - The lending division's profit decreased to HKD 8,400,000 from HKD 21,700,000, a decline of about 61.3%[53]. - The revenue from corporate advisory services reached HKD 28,000,000, up from HKD 16,800,000, indicating a growth of approximately 66.7%[54]. - The property investment and leasing division's revenue fell to HKD 8,900,000 from HKD 9,500,000, a decrease of about 6.3%[55]. - The division recorded a loss of HKD 4,400,000, improved from a loss of HKD 21,300,000 in the previous year[55]. Corporate Strategy and Governance - The company plans to continue expanding its comprehensive financial services platform and is actively seeking a license for automated trading services[58]. - The group reported a loss of HKD 55,200,000 from its 40% investment in Green River Associates Limited for the year, compared to a profit of HKD 46,600,000 in the previous year[72]. - The group plans to relocate its securities brokerage business to a smaller office near its headquarters to mitigate the impact of declining property prices and rental income[59]. - The company has adopted high standards of corporate governance and has complied with all provisions of the Corporate Governance Code as per the Listing Rules, except for a deviation regarding the chairmanship of the nomination committee[80]. - The company focuses on developing its financial services business to provide long-term growth while maintaining a balance between robust financial management and enhancing shareholder returns[83]. - The company has established a board diversity policy to enhance the diversity of board members, which was revised in November 2018 and is monitored by the nomination committee[101]. - The board has retained specific functions, including establishing long-term corporate strategies and overseeing management performance[95]. - The company has a clear delegation of authority to management, with regular reviews to ensure alignment with corporate needs[94]. - The company has adopted a standard code for securities trading by directors and related employees, ensuring compliance during the review accounting year[81]. Risk Management and Internal Controls - The company has established a robust risk management and internal control system, which was reviewed and deemed effective by the board[127]. - The independent internal control consultant found no significant violations or errors in the company's internal control system[127]. - The company has committed to reviewing its risk management and internal control system annually[127]. - The company has ensured that all directors have access to independent professional advice when necessary, with costs covered by the company[120]. Credit Policies and Loan Management - The company has established clear credit policies and monitoring procedures covering the entire loan lifecycle[136]. - The credit monitoring team regularly reviews the loan portfolio and assesses the credit status of borrowers[135]. - The company has a comprehensive internal credit rating system to evaluate the recoverability of loans[143]. - The expected credit loss assessment is based on the Hong Kong Financial Reporting Standard No. 9, utilizing a probability-weighted loss default model[141]. - The expected credit loss provision increased from HKD 7,300,000 in 2020 to HKD 48,441,000 in 2021, primarily due to the deterioration of customer 3's financial situation[144]. - Customer 1's loan has a 100% provision for expected credit loss due to temporary liquidation, with a total expected credit loss of HKD 30,895,000[145]. - The cumulative expected credit loss amounted to HKD 16,770,000 based on a default risk exposure of HKD 36,013,000, a 100% default probability, a 70.0% loss rate, and a 0.92 discount factor[146]. Shareholder Communication and Engagement - The company emphasizes the importance of effective communication with shareholders and the investment community, ensuring timely and relevant information dissemination[161]. - The board has established a shareholder communication policy to enhance understanding of the company's financial and operational performance[161]. - The board is committed to maintaining ongoing dialogue with shareholders, encouraging participation in the annual general meeting held on May 25, 2021[162]. - The company has complied with applicable laws and regulations regarding the notice period for the annual general meeting[162]. Environmental, Social, and Governance (ESG) Initiatives - The company has adopted an environmental, social, and governance (ESG) policy to manage related risks and ensure sustainable business practices[176]. - The board emphasizes the importance of ESG factors and is committed to continuous improvement in environmental performance[175]. - The company actively participates in community activities to enhance ESG management and consider community interests in business development[175]. - The company aims to reduce greenhouse gas emissions by 45% from the 2021 baseline by 2030[186]. - The company targets a 50% reduction in non-hazardous waste from the 2021 baseline by 2030[186]. - The company plans to reduce energy and water consumption by 50% and 30%, respectively, by 2030 from the 2021 levels[188]. Employee Management and Development - The total number of employees as of December 31, 2021, was 42, down from 49 the previous year, indicating a reduction of approximately 14.3%[195]. - The employee turnover rate for the year was 14%[195]. - The gender distribution of employees was 22 males and 20 females as of December 31, 2021[195]. - The company provided training to a total of 10 employees in 2021, with 6 males and 4 females receiving training[200]. - The average training hours for male employees were 7.6 hours, while female employees received an average of 10.0 hours[200]. - The company has maintained a safe working environment with no recorded employee injuries or fatalities in the past three years[198]. - The company is committed to providing competitive compensation and benefits to attract and retain talent[194].