Core Viewpoint - 威华达控股预计在截至2025年6月30日的六个月内将实现净利润8500万港元，而在截至2024年6月30日的六个月内则录得净亏损1.117亿港元 [1] Financial Performance - The expected net profit of HKD 85 million for the period is primarily attributed to several factors, including: (a) profit from associated companies; (b) unrealized fair value gains on financial assets recognized at fair value and included in the profit and loss statement; and (c) reversal of impairment losses on receivables [1]

Core Viewpoint - 威华达控股预计在2025年上半年实现净溢利8500万港元，相较于2024年同期的净亏损约1.12亿港元 [1] Financial Performance - 预计净溢利的主要原因包括：应占联营公司溢利 [1] - 按公平值列账及列入损益表的金融资产的未变现公平值收益净值 [1] - 应收贷款减值亏损拨回净额 [1]

Core Viewpoint - 威华达控股预计在2025年上半年实现净溢利8500万港元，相较于2024年同期的净亏损约1.12亿港元，显示出显著的财务改善 [1] Financial Performance - The expected net profit of 85 million HKD in the first half of 2025 is a significant turnaround from a net loss of approximately 112 million HKD in the same period of 2024 [1] - The anticipated net profit is influenced by several factors, including the share of profits from associated companies, unrealized fair value gains on financial assets recognized at fair value through profit or loss, and the reversal of impairment losses on receivables [1]

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。 威華達控股有限公司 * 正面盈利預告 本公告乃由威華達控股有限公司（「本公司」，連同其附屬公司統稱「本集團」）根據 香港聯合交易所有限公司證券上市規則（「上市規則」）第13.09條及香港法例第571 章證券及期貨條例第XIVA部項下之內幕消息條文（定義見上市規則）而作出。 （於百慕達註冊成立之有限公司） （股份代號：622） 股東及有意投資者於使用有關數據以評估本集團之財務狀況及營運業績時務請審 慎行事。本公司將於必要時就此刊發進一步公告。股東及有意投資者務請細閱本 公司將於2025年8月底所刊發本集團於本期間之中期業績公告。 股東及有意投資者於買賣本公司股份時務請審慎行事。 承董事會命 威華達控股有限公司 執行董事 本公司董事會（「董事會」）謹此通知本公司股東（「股東」）及有意投資者，根據對本 集團截至2025年6月30日止六個月（「本期間」）之未經審核管理賬目之初步審閱及 本公司現時可得之資料，本集 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 威華達控股有限公司 呈交日期: 2025年8月1日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00622 | 說明 | 普通股 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 20,000,000,000 | HKD | | 0.05 | HKD | | 1,000,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 20,000,000,000 | HKD | | 0.05 | HKD | | 1,000,000,000 | ...

Summary of Key Points Core Viewpoint - As of July 14, a total of 138 stocks reached their 52-week highs, indicating a strong performance in the market, with notable leaders including Green Heart Group Holdings, OK Blockchain, and Pearl River Steel Pipe [1]. Group 1: Top Performers - Green Heart Group Holdings (02999) achieved a closing price of 0.013 with a peak of 0.017, marking a 70.00% increase [1]. - OK Blockchain (01499) closed at 0.680, reaching a high of 0.690, reflecting a 48.39% rise [1]. - Pearl River Steel Pipe (01938) had a closing price of 0.335 and a peak of 0.340, resulting in a 33.33% increase [1]. Group 2: Other Notable Stocks - Weishi Jiajie (00856) saw a 32.01% increase, closing at 8.870 with a high of 11.300 [1]. - Cloud Intelligence (09678) reached a high of 520.000, closing at 510.000, which is a 20.99% increase [1]. - China Chengtong Development Group (00217) closed at 0.165 with a peak of 0.166, marking a 14.48% rise [1]. Group 3: Additional Stocks with Significant Increases - Sihuan Pharmaceutical (00460) closed at 1.380, reaching a high of 1.430, which is a 14.40% increase [1]. - Taited Pharmaceutical (03880) had a closing price of 36.950 and a peak of 37.400, reflecting a 13.85% rise [1]. - Beihai Kangcheng-B (01228) closed at 0.850 with a high of 0.960, resulting in a 12.94% increase [1].

Financial Performance - The company reported a net loss of HKD 194.7 million for the year ending December 31, 2024, compared to a net loss of HKD 84.5 million for the previous year, primarily due to unrealized fair value losses of HKD 43 million and share of losses from associates amounting to HKD 60.6 million [6]. - Brokerage commission income from securities trading decreased by 8.3% to HKD 1.1 million, down from HKD 1.2 million in the previous year [8]. - Interest income from margin financing services fell by 58.3% to HKD 9.3 million, compared to HKD 22.3 million in the previous year [8]. - The group recorded total revenue of HKD 36.1 million, a decrease of 40.0% from HKD 60.2 million in the previous year, with financial services segment revenue at HKD 10.5 million [37]. - The group reported a net loss of HKD 194.7 million, compared to a net loss of HKD 84.5 million in the previous year, with basic and diluted loss per share at HKD 0.0315 [38]. - As of December 31, 2024, the group's total assets were HKD 3,217.8 million, down from HKD 3,888.4 million in 2023, and net assets were HKD 3,036.2 million [39]. - The group's cash and cash equivalents stood at HKD 282.4 million as of December 31, 2024, compared to HKD 348.1 million in 2023, maintaining a strong liquidity position with a current ratio of 7.1 [42]. - The company reported a reserve available for distribution to shareholders of approximately HKD 2,679,176,000 as of December 31, 2024, down from HKD 3,356,198,000 in 2023, representing a decrease of about 20.1% [73]. Credit Risk Management - The company maintains a unique lending model focusing on high-quality borrowers, including listed companies and individuals with valuable assets, ensuring low credit risk [9]. - The credit committee, consisting of two directors with over 20 years of experience in finance and credit, is responsible for assessing credit risks and approving loan applications [11]. - The company has implemented internal controls for credit risk assessment, requiring potential borrowers to disclose financial information and undergo legal due diligence [12]. - Loan terms are tailored based on the borrower's financial needs and credit risk assessment, with interest rates reflecting market conditions [13]. - The company actively monitors loan repayment status and communicates with borrowers to address any repayment difficulties [15]. - In cases of overdue loans, the company contacts borrowers to remind them of potential legal actions and seeks to understand the reasons for delays [16]. - As of December 31, 2024, the total net receivables from loans amounted to HKD 626,300,000, a significant increase from HKD 272,500,000 in 2023 [20]. - Interest income from receivables for the year was HKD 28,900,000, representing a 97.9% increase compared to HKD 14,600,000 in the previous year [21]. - The impairment provision for outstanding loans and interest increased to HKD 40,800,000 from HKD 11,100,000 in 2023, reflecting a rise of HKD 29,700,000 [25]. - New loans and interest classified as performing amounted to HKD 492,600,000, with a provision for losses of HKD 12,800,000 [29]. - The company provided attractive interest rates as low as 3% to maintain good relationships with borrowers who met satisfactory credit assessment results [21]. - The company has established a credit risk classification system to evaluate each receivable loan individually [24]. Investment Performance - The tactical and strategic investments segment reported a loss of HKD 46,300,000 for the year, compared to a loss of HKD 26,500,000 in the previous year [28]. - The company has a diversified investment portfolio, with significant holdings in listed and unlisted shares, including a 12.52% stake in Shengjing Bank [30]. - The company plans to consider liquidating certain investments based on internal resource requirements and alternative investment opportunities [28]. - The largest borrower accounted for HKD 59,800,000, approximately 9.5% of total receivables, while the top five borrowers collectively represented 41.6% of total receivables at HKD 260,300,000 [22]. Corporate Governance - The board of directors includes a mix of executive and independent non-executive members, ensuring compliance with independence guidelines [74]. - The audit committee consists of four independent non-executive directors and is responsible for reviewing the financial reporting process and internal controls [129]. - The board is responsible for overseeing the company's management, business strategies, policies, and annual budgets, ensuring effective governance [139]. - The company has complied with the corporate governance code as per the listing rules during the fiscal year ending December 31, 2024 [135]. - The nomination committee evaluates the independence of non-executive directors annually to ensure effective governance [151]. - The company has established procedures for directors to seek independent professional advice at the company's expense when necessary [139]. - The board actively participates in the subsidiary and associate companies' board meetings to ensure alignment with the company's overall strategy [148]. - The board emphasizes the importance of diversity, with 57% male and 43% female employees as of December 31, 2024 [175]. Employee Compensation and Shareholder Relations - The company continues to prioritize employee compensation based on market practices and individual performance, including salaries and discretionary bonuses [51]. - The remuneration policy for employees is determined by the remuneration committee based on performance, qualifications, and capabilities [121]. - The company has not sought shareholder approval to renew the share incentive authorization since it expired on June 12, 2023, resulting in no reward shares being available for issuance in the fiscal year ending December 31, 2024 [98]. - The company has established a shareholder communication policy to ensure effective communication with shareholders [188]. - The board reviewed the implementation and effectiveness of the shareholder communication policy during the year [191]. - The company is committed to enhancing communication with investors and maintaining open dialogue with institutional investors and analysts [188]. ESG Commitment - The company is committed to ESG reporting, covering environmental and social performance for the fiscal year ending December 31, 2024, in accordance with the Hong Kong Stock Exchange's guidelines [197]. - The ESG report includes key performance indicators (KPIs) and compliance with relevant laws and regulations, highlighting the company's operational impact in Hong Kong [199]. - The company emphasizes the importance of stakeholder feedback in assessing the materiality and relevance of ESG issues [200]. - The report outlines the management, measurement, and monitoring systems implemented for ESG strategies, detailing the company's operational priorities and goals [198].

Financial Performance - For the year ended December 31, 2024, total revenue decreased to HKD 36,052,000 from HKD 60,224,000 in 2023, representing a decline of approximately 40%[5] - The net loss for the year was HKD 194,680,000, compared to a net loss of HKD 84,486,000 in 2023, indicating an increase in losses of approximately 130%[6] - The total comprehensive loss for the year amounted to HKD 699,769,000, compared to HKD 1,567,457,000 in 2023, showing a reduction of about 56%[6] - Basic and diluted loss per share increased to HKD 3.15 from HKD 1.38, reflecting a rise of approximately 128%[6] - The company reported a total revenue of HKD 36,052,000 for the year ending December 31, 2024, a decrease from HKD 60,224,000 in 2023, representing a decline of approximately 40%[16] - Interest income from margin clients decreased to HKD 9,277,000 in 2024 from HKD 22,315,000 in 2023, a decline of about 58%[16] - The company’s total interest income for 2024 was HKD 40,942,000, slightly down from HKD 42,817,000 in 2023, indicating a decrease of about 4%[16] - The company’s advisory and commission income was HKD 1,091,000 in 2024, down from HKD 3,377,000 in 2023, reflecting a decline of approximately 68%[16] - The company’s financial services segment reported a total revenue of HKD 10,494,000, while the strategic investment segment reported a loss of HKD 46,347,000 in 2024[21] - The company’s total classified loss for the year was HKD 83,120,000, compared to a profit in the previous year, indicating significant operational challenges[21] Assets and Liabilities - Non-current assets decreased to HKD 1,951,122,000 from HKD 2,743,941,000, a decline of approximately 29%[7] - Current assets increased to HKD 1,266,662,000 from HKD 1,144,449,000, representing an increase of about 11%[7] - The company's equity attributable to owners decreased to HKD 3,032,018,000 from HKD 3,731,045,000, a decrease of approximately 19%[8] - Total assets as of December 31, 2024, were HKD 3,217.8 million, a decrease from HKD 3,888.4 million in 2023[79] - The company's net asset value as of December 31, 2024, was HKD 3,036.2 million, down from HKD 3,731 million in 2023[79] - Cash and cash equivalents as of December 31, 2024, were HKD 282.4 million, compared to HKD 348.1 million in 2023[81] - The current ratio as of December 31, 2024, was 7.1, slightly down from 7.5 in 2023[81] - The total amount of other payables and accrued expenses decreased to HKD 8,688,000 in 2024 from HKD 23,487,000 in 2023, a reduction of about 63%[52] Impairments and Losses - The company's financial assets at fair value through profit or loss recorded a net loss of HKD 15,249,000, a significant decline from a gain of HKD 419,000 in the previous year[5] - The company recognized an impairment loss of HKD 29,630,000 on receivables for the year ended December 31, 2024, compared to a reversal of impairment loss of HKD 23,528,000 in 2023[50] - The company reported a net impairment loss of HKD 248,000 on membership bonds for the year ended December 31, 2024, compared to no impairment loss in 2023[48] - The group reported a net unrealized fair value loss of approximately HKD 449,420,000 for the year ending December 31, 2024, compared to HKD 1,465,461,000 in 2023[37] Investments and Strategic Direction - The company continues to engage in strategic investments and financial services, including securities brokerage and asset management[9] - The company has no major investment or capital asset plans as of December 31, 2024, indicating a cautious approach to future investments[76] - The company has divested its entire investment in ZhongAn Online P&C Insurance, indicating a shift in investment strategy[75] - The company’s investment in Shengjing Bank, with total assets of RMB 1,068.305 billion and net profit of RMB 0.592 billion, is viewed as strategically valuable[74] Credit and Loan Management - The company’s credit services focus on high-quality borrowers, including listed companies and individuals with substantial assets, ensuring low credit risk[61] - The credit committee, consisting of two directors with over 20 years of experience in finance and credit, is responsible for assessing credit risks and approving loan applications[61] - The loan approval process includes a thorough evaluation of the borrower's credit history, income, and collateral, ensuring tailored loan terms based on individual financial needs[64] - The total net receivables for loans as of December 31, 2024, amounted to HKD 626,300,000, a significant increase of 130.0% from HKD 272,500,000 in 2023[69] - Interest income from receivables for the year was HKD 28,900,000, representing a 97.9% increase compared to HKD 14,600,000 in the previous year[70] Corporate Governance and Future Plans - The company introduced new disclosure requirements to enhance transparency regarding supplier financing arrangements and their impact on liabilities and cash flow[14] - The company is committed to improving the classification of liabilities as current or non-current to enhance consistency in financial reporting[13] - The board of directors includes the chairman and executive director, Shen Qingxiang, along with other executive and independent non-executive directors[97] - The 2025 Annual General Meeting is scheduled for June 13, 2025, with a share transfer registration suspension from June 10 to June 13, 2025[95]

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].