Financial Performance - The company reported a net loss of HKD 111.7 million for the six months ended June 30, 2024, compared to a net profit of HKD 11.8 million for the same period in 2023, primarily due to unrealized fair value losses of HKD 42.1 million and losses from associates of HKD 41.9 million [3]. - Total revenue for the group during the reporting period was HKD 22,200,000, a decrease of 44.5% compared to HKD 40,000,000 in the previous period [28]. - The group recorded a net loss of HKD 111,700,000, compared to a net profit of HKD 11,800,000 in the previous period, primarily due to unrealized fair value losses of HKD 42,100,000 [28]. - The financial services segment generated revenue of HKD 4,700,000, down from HKD 20,800,000 in the previous period [28]. - The strategic investment segment reported a net loss of HKD 45,300,000, compared to a loss of HKD 20,500,000 in the previous period [28]. - The credit services segment recorded a net loss of HKD 6,700,000, down from a profit of HKD 25,600,000 in the previous period [28]. - Total comprehensive expenses for the period amounted to HKD 557,425,000, an increase from HKD 324,294,000 in the previous year [52]. - The company reported a significant increase in other income to HKD 5,391,000 from HKD 17,907,000, a decrease of 69.9% [51]. - The company reported a pre-tax loss of HKD 111,424 million for the six months ended June 30, 2024, compared to a pre-tax profit of HKD 14,168 million for the same period in 2023 [64][65]. Revenue and Income Sources - Brokerage commission income from securities brokerage services decreased by 66.7% to HKD 200,000, down from HKD 600,000 in the previous period [5]. - Interest income from margin financing services fell by 77.5% to HKD 4.5 million, compared to HKD 20 million in the previous period [5]. - Interest income amounted to HKD 19,301 million, a decrease from HKD 35,199 million in the previous year, reflecting a decline of about 45.1% [64]. - Interest income from bank deposits for the six months ended June 30, 2024, was HKD 4,338,000, up from HKD 2,778,000 in the same period of 2023 [72]. - The company received dividends of HKD 2,806,000 during the reporting period, down from HKD 6,129,000 in the previous year [60]. Credit and Loan Management - The company focuses on providing large loans to high-quality borrowers, including listed companies and individuals with valuable assets, ensuring a low credit risk profile [7]. - The credit committee, composed of two directors with over 20 years of experience in finance and credit, is responsible for assessing credit risk and approving loan applications [7]. - The company has implemented internal controls for credit risk assessment, requiring potential clients to disclose various financial and legal information [8]. - Loan terms are tailored based on the client's financial needs and credit risk assessment, with interest rates determined by market rates and credit risk evaluations [9]. - The company actively monitors loan repayment status daily, with the credit committee communicating with borrowers to ensure timely repayments [11]. - The company has established a credit risk classification system to assess the impairment of receivables based on current and future economic conditions [16]. - Legal actions may be initiated against borrowers who fail to respond positively regarding overdue loans, with considerations for the value of pledged assets [12]. - The impairment provision for outstanding receivables and interest increased to HKD 20,200,000 as of June 30, 2024, up from HKD 11,100,000 on December 31, 2023, reflecting a rise of HKD 9,100,000 [18]. - The company recognized a net impairment loss of approximately HKD 9,093,000 on receivables during the reporting period [92]. Asset and Liability Management - As of June 30, 2024, the group's unaudited total assets were HKD 3,356,500,000, down from HKD 3,888,400,000 as of December 31, 2023 [29]. - The group's unaudited net assets as of June 30, 2024, were HKD 3,173,600,000, compared to HKD 3,731,000,000 as of December 31, 2023 [29]. - The company's total liabilities increased, leading to a cumulative loss of HKD (394,702,000) as of June 30, 2024 [54]. - The total liabilities as of June 30, 2024, were HKD 182,895,000, compared to HKD 157,345,000 as of December 31, 2023, indicating an increase in liabilities [70]. - The company's cash and cash equivalents decreased by HKD 79,582,000 during the reporting period, resulting in a balance of HKD 268,429,000 at the end of June 2024 [60]. - The company's cash and cash equivalents as of June 30, 2024, were HKD 70,380,000, down from HKD 280,614,000 as of December 31, 2023 [70]. Share Capital and Equity - The group issued 75,000,000 new ordinary shares under the share incentive plan adopted in December 2019 [29]. - The total number of shares issued by the company is 6,184,259,139 shares [39]. - The total issued and paid-up share capital as of June 30, 2024, was HKD 309,213,000, an increase from HKD 305,463,000 as of December 31, 2023, representing a growth of approximately 0.57% [97]. - The company did not recommend any interim dividend for the reporting period [34]. - The board of directors did not recommend any interim dividend for the reporting period [34]. - The company has not granted any new options under the 2012 Share Option Scheme during the six months ended June 30, 2024 [42]. - The 2012 Share Option Scheme was adopted to recognize contributions and attract qualified personnel, but it expired on May 17, 2022, with no further options to be granted [41]. - The company has not reported any options granted, exercised, canceled, or lapsed under the 2012 Share Option Scheme during the six months ended June 30, 2024 [42]. - The 2022 Share Option Scheme allows for a maximum of 610,925,913 shares to be granted, representing approximately 10% of the total issued shares as of June 30, 2024 [43]. - No share options were granted, exercised, cancelled, or lapsed under the 2022 Share Option Scheme during the six months ending June 30, 2024 [43]. Management and Governance - The management will continue to adopt a cautious approach in response to the challenging global business environment [33]. - The company expresses gratitude to all employees for their efforts and contributions during the reporting period [38]. - The company has confirmed that all directors complied with the trading standards during the reporting period [38]. - There have been no changes in director information since the company's annual report date up to the date of this interim report [48]. Investment and Market Outlook - The company aims to build a resilient and robust investment portfolio to create value for shareholders despite an uncertain overall economic outlook [27]. - Future Capital and Hope Capital are expected to benefit from favorable government policies aimed at stimulating the real estate market and attracting family offices to Hong Kong [26][27]. - The company continues to engage in strategic investments and financial services, including securities brokerage and asset management, despite the challenging market conditions [63]. - The report indicates that the company is adopting new and revised Hong Kong Financial Reporting Standards, which did not have a significant impact on the financial performance for the current period [63]. - Future outlook and specific strategies for market expansion or new product development were not detailed in the provided documents [66]. Fair Value Measurements - The fair value measurement of assets and liabilities is classified into three levels, with Level 1 being the highest, based on observable market data [104]. - The fair value of listed equity securities as of June 30, 2024, was HKD 976,343,000, down from HKD 1,251,030,000 as of December 31, 2023 [81]. - The fair value of non-listed equity securities is HKD 550,541,000, down from HKD 645,727,000 as of December 31, 2023 [105]. - The fair value of investment properties remains unchanged at HKD 86,530,000 as of June 30, 2024 [105]. - The fair value of listed equity securities designated at fair value through other comprehensive income in Hong Kong is HKD 941,273,000 and in the US is HKD 35,070,000, compared to HKD 1,220,886,000 and HKD 30,144,000 respectively as of December 31, 2023 [105].

Financial Performance - Total revenue for the six months ended June 30, 2024, was HKD 22,218,000, a decrease of 44.8% compared to HKD 39,958,000 for the same period in 2023[1]. - The company reported a net loss of HKD (111,664,000) for the period, compared to a profit of HKD 11,781,000 in the same period last year[2]. - The company recorded a total comprehensive loss of HKD 19,888,000 for the six months ended June 30, 2024, compared to a profit of HKD 19,210,000 for the same period in 2023[9][11]. - The group recorded total revenue of HKD 22,200,000, a decrease of 44.5% compared to HKD 40,000,000 in the previous period[58]. - The group incurred a net loss of HKD 111,700,000, compared to a net profit of HKD 11,800,000 in the previous period[58]. Income and Expenses - Interest income decreased to HKD 19,301,000 from HKD 35,199,000, representing a decline of 45.1%[1]. - Other income fell to HKD 5,391,000, down 69.9% from HKD 17,907,000 in the prior year[2]. - The company incurred financing costs of HKD 2,676,000 for the six months ended June 30, 2024, down from HKD 8,059,000 in the same period in 2023[15]. - The company’s operational expenses increased to HKD 39,969,000 for the six months ended June 30, 2024, compared to HKD 22,576,000 in the same period in 2023[15]. - The company recognized a net impairment loss of approximately HKD 9.1 million on receivables for the six months ended June 30, 2024[14]. Assets and Liabilities - Total assets decreased to HKD 3,178,605,000 from HKD 3,736,368,000, reflecting a decline of 14.9%[3]. - Current assets increased to HKD 1,180,966,000 from HKD 1,144,449,000, showing a slight growth of 3.2%[3]. - The company’s net asset value as of June 30, 2024, was HKD 3,173,620,000, down from HKD 3,731,045,000 at the end of 2023[3]. - The company’s total borrowings as of June 30, 2024, were HKD 68,500,000, slightly down from HKD 68,300,000 as of December 31, 2023[60]. - The asset-to-equity ratio was 1.6% as of June 30, 2024, compared to 1.4% as of December 31, 2023, reflecting a stable financial structure[61]. Shareholder Information - Basic and diluted loss per share was HKD (1.81), compared to earnings of HKD 0.19 per share in the previous year[2]. - The weighted average number of ordinary shares for calculating diluted loss per share increased to 6,175,605,293 for the six months ended June 30, 2024, from 6,109,259,139 in 2023[21]. - The company did not recommend the payment of an interim dividend for the six months ended June 30, 2024, consistent with the previous year[18]. - The company repurchased 1,026,000 shares at a total cost of HKD 141,288 during the reporting period[69]. Investment Activities - The company continues to engage in strategic investments and financial services, including securities brokerage and asset management[4]. - The company’s total other receivables amounted to HKD 641,018,000 as of June 30, 2024, compared to HKD 464,628,000 as of December 31, 2023[29]. - The company held a debt investment in the form of preferred notes amounting to HKD 30,000,000 as of June 30, 2024, with an annual interest rate of 9.5%[26]. - The fair value losses on investments in Co-Lead Holdings Limited, Future Capital Group Limited, and Green River Associates Limited were approximately HKD 38,760,000, HKD 41,000,000, and HKD 15,426,000 respectively for the six months ended June 30, 2024[24]. - Future Capital Group Limited is expected to benefit from the Hong Kong government's easing of mortgage regulations to stimulate the real estate market[55]. Credit Services - The company’s brokerage commission income decreased by 66.7% to HKD 200,000, down from HKD 600,000 in the previous period[40]. - Interest income from margin financing services fell by 77.5% to HKD 4.5 million, compared to HKD 20 million in the previous period[40]. - The company has 17 clients for its credit services, all of whom are independent third parties[48]. - The largest borrower accounted for HKD 58,500,000, which is approximately 11.4% of the total receivables, while the top five borrowers collectively accounted for HKD 232,000,000, or about 45.1% of total receivables[49]. - The company offers loans with interest rates ranging from 5% to 9%, with some loans secured by collateral and personal guarantees[48]. Risk Management - The group maintained a conservative risk management approach and will continue to review and adjust business strategies in response to future challenges[64]. - The credit committee, composed of two directors with over 20 years of experience in finance and credit, is responsible for assessing credit risk and approving loan applications[42]. - The company has established internal controls for credit risk assessment, requiring potential clients to disclose various financial information[43].

Financial Performance - The company reported a net loss of HKD 84,500,000 for the year ended December 31, 2023, compared to a net loss of HKD 81,100,000 for the year ended December 31, 2022[74]. - The company reported total revenue of HKD 60,200,000 for the year, a decrease of 44.9% compared to HKD 109,200,000 in the previous year[197]. - The financial services segment generated revenue of HKD 25,700,000, up from HKD 22,900,000 year-on-year[197]. - The tactical and/or strategic investment segment reported revenue of HKD 19,900,000, down from HKD 52,600,000 in the previous year[197]. - The credit services segment achieved revenue of HKD 14,600,000, compared to HKD 33,700,000 last year[197]. - Basic and diluted loss per share for the year was HKD 1.38, compared to HKD 1.33 in the previous year[197]. Loan and Credit Management - As of December 31, 2023, the total net receivables from loans amounted to HKD 272,500,000, a decrease of 10.9% from HKD 306,000,000 in 2022[21]. - The interest income from receivables for the year was HKD 14,600,000, representing a significant decrease of 56.7% compared to HKD 33,700,000 in the previous year[32]. - The company provided loans to 11 clients, with the largest borrower accounting for HKD 70,600,000, which is approximately 25.9% of the total receivables[22]. - The company has set aside a provision for loan losses amounting to HKD 4,100,000 for new receivables and interest of HKD 205,200,000 classified as performing[26]. - The company has established a credit risk classification system for loans, assessing each receivable loan individually[34]. - The company only provides loans to recognized and reputable clients, ensuring a strong credit assessment process[76]. - The management team actively monitors outstanding loan repayments and communicates with borrowers to ensure timely repayments[71]. Investment Strategy - The company aims to create a resilient and robust investment portfolio that adds value to shareholders through strategic investments and divestments[36]. - The company believes that its investments in Shengjing Bank, ZhongAn Online, and Haotian International hold strategic value for long-term growth[40][51][52]. - The company plans to consider liquidating certain investments based on internal resource requirements and alternative investment opportunities[36]. - The tactical and strategic investments segment reported a loss of HKD 26.5 million, an improvement from a loss of HKD 39.9 million in the previous year[45]. Corporate Governance - The company complied with the corporate governance code, except for the provision C.2.1 regarding the separation of roles between the chairman and the CEO[123]. - The audit committee, composed of four independent non-executive directors, regularly meets with senior management and auditors to review financial reporting and internal controls[120]. - The board believes that the internal control system and risk management functions are essential, with the board playing a crucial role in their implementation and oversight[146]. - The company is committed to maintaining good corporate governance practices and transparency towards shareholders and stakeholders[159]. - The board consists of 7 members, including 3 executive directors and 4 independent non-executive directors, ensuring a clear separation of roles between the chairman and the CEO[159]. Liquidity and Financial Ratios - The group's liquidity remains strong, with a current ratio of 7.5 as of December 31, 2023, up from 3.9 in 2022[84]. - Total borrowings decreased to HKD 51,200,000 as of December 31, 2023, down from HKD 294,000,000 in 2022[84]. - The debt-to-equity ratio improved to 1.4% as of December 31, 2023, compared to 5.6% in 2022, indicating better liquidity and effective financial management[84]. Market Conditions and Future Outlook - The company anticipates that the global business and investment environment will remain challenging and uncertain, with the Hong Kong economy requiring more time to recover to pre-COVID-19 levels[187].

Financial Performance - Total revenue for the year ended December 31, 2023, was HKD 60,224,000, a decrease of 44.8% compared to HKD 109,193,000 in 2022[13]. - The company reported a net loss of HKD 84,486,000 for the year, compared to a loss of HKD 81,088,000 in 2022, reflecting a 4.9% increase in losses[13]. - The company’s total interest income for 2023 was 10,291,000 HKD, down from 13,902,000 HKD in 2022, indicating a decline of approximately 26.5%[35]. - The company recorded a net loss of HKD 84,500,000 for the year, compared to a net loss of HKD 81,100,000 in the previous year, with basic and diluted loss per share at HKD 0.0138[142]. - The company recognized a loss from the fair value of financial assets amounting to approximately 5,152,000 HKD in 2023, compared to a loss of 266,894,000 HKD in 2022[33]. Assets and Liabilities - The total assets decreased to HKD 2,743,941,000 from HKD 3,921,321,000, representing a decline of 30%[21]. - The total liabilities decreased significantly to HKD 152,022,000 from HKD 474,508,000, a reduction of 68%[21]. - The net asset value decreased to 3,731,045,000 HKD in 2023 from 5,278,315,000 HKD in 2022, indicating a decline of about 29.3%[41]. - The group’s total liabilities decreased to HKD 1,481,217,000 in 2023 from HKD 402,241,000 in 2022, indicating a significant increase in liabilities[124]. - The group held secured bank loans of HKD 51,235,000 as of the reporting period, compared to HKD 53,199,000 in 2022[200]. Cash and Cash Equivalents - The company’s cash and cash equivalents stood at HKD 348,050,000, a slight decrease from HKD 368,819,000 in the previous year[21]. - The group’s cash and cash equivalents were reported at HKD 425,000 as of December 31, 2023, compared to HKD 5,472,000 in 2022, showing a decrease of approximately 92.2%[119]. Revenue Segments - Interest income from margin clients increased to 22,315,000 HKD in 2023, compared to 18,907,000 HKD in 2022, representing a growth of approximately 17.4%[48]. - The financial services segment generated revenue of 3,377,000 HKD in 2023, down from 3,992,000 HKD in 2022, a decrease of about 15.4%[34]. - The financial services segment reported a profit of HKD 7,500,000, down from HKD 8,800,000 in the previous year, while the tactical and strategic investment segment incurred a loss of HKD 50,800,000, an improvement from a loss of HKD 73,900,000[142]. Expenses - The company incurred total operating expenses of HKD 46,617 million in 2023, down from HKD 59,935 million in 2022, showing a reduction in costs[57]. - Employee benefit expenses, including directors' remuneration, decreased to HKD 16,900 million in 2023 from HKD 24,534 million in 2022, reflecting cost-cutting measures[71]. - The company’s legal and professional fees for marketing expenses totaled HKD 4,192 million in 2023, compared to HKD 8,306 million in 2022, indicating a strategic reduction in marketing costs[57]. Equity and Shareholder Information - The total equity decreased from 5,278,315,000 HKD in 2022 to 3,731,045,000 HKD in 2023, a reduction of about 29.3%[41]. - The basic and diluted loss per share for 2023 was HKD (1.38), slightly worse than HKD (1.33) in 2022[73]. - The company did not recommend any dividend payment for the year ended December 31, 2023, consistent with the previous year[72]. Investment and Fair Value - The company recognized a fair value loss of approximately HKD 140,000,000 on its investment in Future Capital Group Limited during the year, consistent with the previous year's loss of HKD 31,000,000[98]. - The company reported a significant unrealized loss on financial assets of HKD (46,427) million in 2023, compared to HKD (92,557) million in 2022, suggesting a reduction in market volatility impact[70]. - The company held a 7.88% stake in Co-Lead Holdings Limited as of December 31, 2023, up from 2.18% in 2022, with a fair value loss of approximately HKD 9,877,000 recognized during the year[92]. Future Outlook and Management - The company plans to continue prudent capital management and liquidity risk management policies to navigate future challenges[140]. - The company plans to maintain a conservative and balanced risk management approach while regularly reviewing and adjusting business strategies[184].

Financial Performance - The group recorded total revenue of HKD 40,000,000, a decrease of 45.45% compared to the previous period's HKD 73,300,000[12]. - The net profit for the group was HKD 11,800,000, a significant improvement from a net loss of HKD 39,400,000 in the previous period[32]. - Total revenue for the six months ended June 30, 2023, was HKD 39,958,000, a decrease from HKD 73,253,000 in the same period of 2022, representing a decline of approximately 45.5%[61]. - The company reported a profit of HKD 11,781,000 for the period, a significant recovery from a loss of HKD (39,449,000) in the same period last year[61]. - The total comprehensive loss for the period was HKD (324,294) thousand, compared to HKD (336,593) thousand in the same period last year, representing an improvement of approximately 3.9%[63]. - The company reported a net loss of HKD 11,781 thousand for the period, compared to a net loss of HKD 86,065 thousand in the previous year, showing a significant reduction in losses[91]. Segment Performance - The financial services segment generated a profit of HKD 14,100,000, up from HKD 5,900,000 in the previous period[32]. - The strategic investment segment reported a loss of HKD 20,500,000, reduced from HKD 40,800,000 in the previous period[32]. Assets and Liabilities - As of June 30, 2023, the group's total assets were HKD 5,280,300,000, down from HKD 5,754,100,000 as of December 31, 2022[13]. - The group's net asset value as of June 30, 2023, was HKD 4,964,100,000, compared to HKD 5,278,300,000 at the end of 2022[13]. - Total liabilities were reported at HKD 316,198 thousand as of June 30, 2023[137]. - The group’s total liabilities decreased to 2,830,601 thousand HKD as of June 30, 2023, from 3,186,010 thousand HKD as of December 31, 2022, indicating a reduction of about 11.1%[186]. Cash Flow - The net cash generated from operating activities for the six months ended June 30, 2023, was HKD 218,065, a decrease of 50.3% compared to HKD 438,315 for the same period in 2022[115]. - The net cash used in investing activities was HKD 28,536, a significant improvement from a net cash outflow of HKD 679,249 in the previous year[115]. - The net cash used in financing activities amounted to HKD 121,105, compared to HKD 29,606 in the same period last year, indicating increased financing activities[115]. Investment and Strategic Focus - The group plans to continue prudent capital management and liquidity risk management policies to address future challenges[11]. - The group continues to focus on strategic investments and value creation through selective investments and divestitures, demonstrating resilience in adverse market conditions[118]. - The group has established criteria for identifying suitable investments and has a strategy for divesting certain investments based on internal resource requirements and alternative investment opportunities[118]. Market Outlook - The group expects market conditions to gradually improve despite an uncertain overall economic outlook[11]. Employee and Operational Costs - Employee benefit expenses decreased to HKD (8,708,000) from HKD (14,359,000), showing a reduction of about 39.5%[61]. - The company achieved a significant reduction in financing costs, which decreased to HKD (8,059,000) from HKD (11,277,000), a decline of approximately 28.5%[61]. Share Capital and Equity - The total number of issued shares as of June 30, 2023, was 6,109,259,139[54]. - The company's equity attributable to shareholders decreased to HKD 4,964,115 thousand as of June 30, 2023, from HKD 5,278,315 thousand at the beginning of the year[91]. Foreign Exchange and Other Income - The company recorded a foreign exchange loss of HKD (2,049) thousand during the period[91]. - Other income for the period was HKD 17,907,000, up from HKD 11,243,000 in the prior year, marking an increase of approximately 59.5%[61].

Financial Performance - Total revenue for the six months ended June 30, 2023, was HKD 39,958 thousand, a decrease of 45.5% compared to HKD 73,253 thousand for the same period in 2022[1] - Net loss from financial assets at fair value through profit or loss was HKD (2,001) thousand, a significant decline from a gain of HKD 38,697 thousand in the previous year[1] - Interest income increased to HKD 35,199 thousand, up 9.5% from HKD 32,141 thousand in the prior year[1] - Dividend income rose to HKD 6,129 thousand, compared to HKD 2,069 thousand in the same period last year, marking a 195.5% increase[1] - Other income for the period was HKD 17,907 thousand, an increase of 59.5% from HKD 11,243 thousand in the previous year[2] - The company reported a pre-tax profit of HKD 14,168 thousand, a turnaround from a loss of HKD (37,139) thousand in the same period last year[2] - Net profit for the period was HKD 11,781 thousand, compared to a loss of HKD (39,449) thousand in the previous year[2] - Basic and diluted earnings per share for the period were HKD 0.19, a recovery from a loss of HKD (0.65) per share in the same period last year[2] - The group recorded a net profit of HKD 11,800,000 for the six months ended June 30, 2023, compared to a net loss of HKD 39,400,000 for the same period in 2022[82] - The company recorded a total comprehensive loss of HKD 336.1 million during the reporting period, compared to HKD 297.1 million in the previous period[147] Assets and Liabilities - Total assets as of June 30, 2023, were HKD 4,964,115 thousand, a decrease from HKD 5,279,626 thousand as of December 31, 2022[3] - The company's net asset value remained stable at HKD 4,964,115 thousand compared to HKD 5,278,315 thousand at the end of the previous year[3] - Total assets as of June 30, 2023, amounted to HKD 5,754,134,000, with HKD 794,213,000 in financial services, HKD 3,629,545,000 in tactical and/or strategic investments, and HKD 334,529,000 in credit services[28] - The total liabilities were HKD 475,819,000, with HKD 59,083,000 in financial services and HKD 251,631,000 in tactical and/or strategic investments[28] - The group’s total liabilities decreased from HKD 294,023,000 as of December 31, 2022, to HKD 178,755,000 as of June 30, 2023[79] - The group’s non-secured loans decreased from HKD 240,824,000 as of December 31, 2022, to HKD 126,538,000 as of June 30, 2023[79] Operational Highlights - Employee benefits expenses amounted to HKD 7,430,000, including salaries and other benefits[31] - The company did not experience significant impacts from the adoption of new or revised Hong Kong Financial Reporting Standards during the reporting period[20] - The company did not recommend the payment of an interim dividend for the six months ended June 30, 2023, consistent with the previous year[35] - The company sold all equity interests in the Siston Group for a consideration of HKD 110,000,000, with the transaction completed on August 8, 2023[95] - The group employed 28 full-time employees as of June 30, 2023, a slight decrease from 29 employees at the end of 2022[179] Investment and Strategic Initiatives - The company continues to hold a 17.81% stake in Future Capital, acquired for 750,000,000 HKD, indicating a strategic investment for long-term holding[42] - The company’s non-listed investment funds primarily invest in securities listed in Hong Kong and overseas, with a total value of HKD 88,066,000 as of June 30, 2023, down from HKD 103,143,000[94] - The company is cautiously seeking opportunities to expand its business beyond the leasing property market while maintaining a conservative treasury policy due to market uncertainties[129] - The company aims to build a resilient and robust investment portfolio to create shareholder value, despite the uncertain overall economic outlook[146] Credit and Risk Management - The company’s credit model focuses on providing large loans to high-quality borrowers, including listed companies and individuals with valuable assets[104] - The credit committee evaluates potential clients based on their creditworthiness, repayment ability, and legal due diligence, ensuring a thorough assessment process[112] - The company emphasizes monitoring loan repayment situations and taking appropriate actions for overdue loans, including legal measures if necessary[132] - The interest income from receivables during the reporting period was HKD 10,700,000, down 47.7% from HKD 20,500,000 in the previous period, attributed to a prudent approach in credit services[118] Market Conditions and Future Outlook - The global business and investment environment remains challenging and uncertain for the second half of 2023[177] - The company continues to monitor foreign exchange risk exposure and will consider appropriate actions to mitigate risks as necessary[174] - The mid-term report will be sent to shareholders in September 2023 and will be available on the company's website[183]

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，概不對因本公告全部或任 何部分內容而產生或因依賴該等內容而引致之任何損失承擔任何責任。 獨立非執行董事： 陳克勤先生，S.B.S，J.P. 洪祖星先生，B.B.S 藍章華先生 余仲良先生 承董事會命 威華達控股有限公司 執行董事 黃藴文 執行董事： 沈慶祥先生（主席） 黄 文女士 王溢輝先生 威華達控股有限公司 * （於百慕達註冊成立之有限公司） （股份代號：622） 澄清公告 謹此提述威華達控股有限公司（「本公司」）日期為2023年1月20日有關截至2021年12 月31日止年度之年報之補充公告（「該公告」）。除文義另有所指外，本公告所採用 之詞彙與該公告所界定者具有相同涵義。 本公司謹此澄清，截至2021年12月31日止年度向信貸服務業務之客戶提供之現金 回佣之正確金額應為61,000,000港元，而非該公告第6頁「利息收入－(a)信貸服務」 一段所述之54,000,000港元，造成差異之原因是由於無意遺漏。 除上文所披露者外，該公告之所有其他資料維持不變。 香港，2023年7月10日 ...

Share Incentive Plan - The maximum number of reward shares that can be granted under the share incentive plan as of December 31, 2022, was 183,408,274 shares at the beginning of the year and 183,277,774 shares at the end of the year, representing 3% of the total issued shares at that date[5] - No reward shares were granted under the share incentive plan during the year ended December 31, 2022[5] - The share incentive plan does not specify any vesting period, which is determined at the discretion of the board of directors[2]

Financial Performance - The group recorded a net profit of RMB 1.019 billion for 2022, an increase of RMB 588 million, representing a growth of 136.6% year-on-year[11]. - The group reported other comprehensive losses of HKD 401.6 million for the year, down from HKD 1.0609 billion in the previous year[15]. - The company reported a reserve available for distribution to shareholders of approximately HKD 6,138,557,000 as of December 31, 2022, down from HKD 6,471,550,000 in 2021, representing a decrease of about 5.14%[61]. - No final dividend was recommended for the year ended December 31, 2022, consistent with the previous year[59]. Assets and Liabilities - As of December 31, 2022, the group's total assets amounted to HKD 5.754 billion, down from HKD 6.309 billion in 2021[16]. - The group's net asset value as of December 31, 2022, was HKD 5.2783 billion, compared to HKD 5.7408 billion in 2021[16]. - The group had total loans payable of HKD 294 million as of December 31, 2022, compared to HKD 246.6 million in 2021[18]. - The group maintained a strong liquidity position with a current ratio of 3.9 as of December 31, 2022, down from 5.6 in 2021[18]. Employee and Management - The group employed 29 full-time employees as of December 31, 2022, with total employee costs of approximately HKD 24.5 million, down from HKD 29.2 million in 2021[29]. - The company has a strong focus on employee motivation through its share option and reward schemes[48]. - The remuneration policy for employees is determined by the remuneration committee based on performance, qualifications, and capabilities[157]. - The company continues to prioritize employee knowledge and skills, providing favorable career development opportunities[78]. Corporate Governance - The company has independent non-executive directors with extensive experience in finance and investment, enhancing governance and oversight[54][56][72]. - The board of directors has undergone changes, with new appointments made in 2022, ensuring fresh perspectives in governance[62]. - The company has maintained compliance with legal and regulatory requirements, reflecting its commitment to corporate governance[59]. - The board is responsible for guiding and supervising the management, developing business strategies, and approving the annual budget and business plans[196]. Share Options and Incentives - The company has implemented a share option scheme with a total of 610,925,913 shares available for issuance, representing 10% of the total issued shares as of the plan adoption date[48]. - The maximum number of shares that can be granted under the share incentive plan is 581,176,628 shares, which represents 10% of the company's issued share capital as of the adoption date of the plan[121]. - The 2022 share option plan allows for the issuance of up to 610,925,913 shares, representing 10% of the company's issued shares as of the plan's approval date[93]. - The company aims to attract suitable individuals with relevant experience for its existing and potential new business developments, including integrated resort projects[120]. Risk Management - The management maintains a cautious outlook due to ongoing geopolitical tensions, recession risks, and supply chain restructuring challenges despite global economic recovery from COVID-19[44]. - The company continues to monitor foreign exchange risk exposure and will consider appropriate actions to mitigate such risks when necessary[40]. - The company has no derivative instruments to hedge foreign exchange risks for the year[40]. - The company has no significant contingent liabilities as of December 31, 2022, consistent with the previous year[41]. Shareholder Information - Major shareholders include Sun Cuohong with 1,215,296,600 shares, representing 19.89% of the company, and Mai Shaoxian with 575,003,000 shares, representing 9.41%[130]. - The largest customer accounted for approximately 21% of the group's revenue from continuing operations for the year ended December 31, 2022[133]. - The company has maintained a public float of at least 25% as required by listing rules[158]. Audit and Compliance - The annual performance for the year ended December 31, 2022, has been audited by the auditor Zhongren Zhonghuan (Hong Kong) CPA Limited[188]. - The company will propose the reappointment of Zhongren Zhonghuan (Hong Kong) CPA Limited at the 2023 annual general meeting[189]. - The company has established an audit committee responsible for reviewing and monitoring the financial reporting process and internal controls[140]. - The company complied with the corporate governance code as per the listing rules, except for one specific provision[139].

Financial Performance - The total revenue for the year ended December 31, 2022, was HKD 109,193,000, a significant recovery from a loss of HKD 3,101,855,000 in 2021[22] - The net loss for the year was HKD 81,088,000, compared to a much larger loss of HKD 3,145,728,000 in the previous year, indicating a substantial improvement[22] - The company reported a net gain from the sale of financial assets at fair value through profit or loss of HKD 25,085,000, recovering from a loss of HKD 3,225,077,000 in 2021[22] - The basic and diluted loss per share for the year was HKD 1.33, a significant reduction from HKD 51.46 in 2021, showing improved financial performance[24] - The total comprehensive loss for the year was HKD 482,718,000, significantly lower than HKD 4,206,677,000 in 2021, reflecting improved operational efficiency[24] - The company reported a significant decrease in revenue from financial assets measured at fair value through profit or loss, from HKD 748,076,000 in 2021 to HKD 266,894,000 in 2022, a drop of approximately 64.3%[36] - The group reported a pre-tax loss of HKD 3,551,087,000 for the year, reflecting significant challenges in the market[66] - The company reported a loss attributable to equity shareholders of HKD (81,088,000) in 2022, compared to a loss of HKD (3,145,728,000) in 2021, indicating a significant improvement[166] Income and Expenses - Dividend income increased to HKD 22,362,000 from HKD 15,222,000, reflecting a positive trend in income generation[22] - The company incurred a financing cost of HKD 22,893,000, down from HKD 26,793,000 in the previous year, indicating improved cost management[22] - Other comprehensive losses for the year totaled HKD 401,630,000, compared to HKD 1,060,949,000 in the previous year, indicating a reduction in overall losses[24] - The company recognized a reversal of impairment losses on receivables amounting to HKD 13,688,000, contrasting with a loss of HKD 7,941,000 in 2021[22] - The company reported a decrease in employee benefit expenses to HKD 24,534,000 from HKD 29,202,000, indicating cost-cutting measures[22] - The company incurred business development expenses of HKD 8,158 million in 2022, significantly lower than HKD 140,141 million in 2021[68] - The current tax expense for the year was HKD 1,800 million in 2022, compared to HKD 3,346 million in 2021, indicating a decrease of approximately 46.2%[70] Assets and Liabilities - Total assets decreased from HKD 5,744,869,000 in 2021 to HKD 5,279,626,000 in 2022, a decline of approximately 8.1%[25] - Non-current assets decreased from HKD 3,921,321,000 in 2021 to HKD 3,134,196,000 in 2022, representing a decrease of about 20.0%[25] - Current liabilities decreased from HKD 1,832,813,000 in 2021 to HKD 1,358,305,000 in 2022, a reduction of approximately 25.8%[25] - The company's net asset value decreased from HKD 5,740,846,000 in 2021 to HKD 5,278,315,000 in 2022, a decline of about 8.0%[26] - The company’s total liabilities decreased from HKD 4,023,000 in 2021 to HKD 1,311,000 in 2022, a decrease of approximately 67.4%[26] - The company’s cash and cash equivalents decreased from HKD 848,645,000 in 2021 to HKD 368,819,000 in 2022, a decline of about 56.5%[25] - The company’s receivables decreased from HKD 1,427,067,000 in 2021 to HKD 1,017,671,000 in 2022, a reduction of approximately 28.8%[25] Investment and Financing - The company has a bank loan secured against investment properties valued at HKD 102,750 million as of December 31, 2022[75] - The company plans to continue its strategic investment in Future Capital, acquiring a 17.81% stake for HKD 750 million[83] - The company recognized a fair value loss of approximately HKD 31 million on its investment in Future Capital during the year[83] - The company sold 15,426,500 shares of Hong Kong Shanghai Hotels Limited for a total consideration of HKD 197,460,000, equivalent to HKD 12.8 per share, on February 11, 2022[186] - The company subscribed for shares in Future Capital Group Limited for HKD 750,000,000, at a price of HKD 200,000 per share, on February 17, 2022[187] Corporate Governance - The company has established an audit committee to oversee financial reporting and internal controls, consisting of five independent non-executive directors[190] - The annual results for the year have been audited by the company's auditor, confirming compliance with financial reporting standards[192] - The company is committed to maintaining high standards of corporate governance, although it has not fully complied with all provisions of the corporate governance code[193]