Financial Performance - The total revenue of AMCO United Holding Limited increased by HK$3.5 million or 10.2%, from HK$34.3 million in 2023 to HK$37.8 million in 2024[17]. - The loss for the year decreased from HK$2.75 million in 2023 to HK$1.23 million in 2024, representing a reduction of approximately 55.4%[6]. - The equity attributable to owners of the Company decreased slightly from HK$61.36 million in 2023 to HK$60.13 million in 2024[6]. - The current ratio improved from 2.2 in 2023 to 2.3 in 2024, indicating better short-term financial health[6]. - The return on total assets improved from (1.6%) in 2023 to (0.8%) in 2024, reflecting a reduction in losses relative to total assets[6]. - Gross profit decreased by HK$0.9 million or 6.1% to HK$13.9 million, with a gross profit margin decline of 6.2 percentage points to 36.9%[27]. - The overall loss attributable to owners of the Company decreased by HK$1.6 million or 57.1% to HK$1.2 million compared to a loss of HK$2.8 million in 2023[30]. Business Segments - The Group's Money Lending Business generated stable income in 2024, while the Securities Investment segment recorded a loss[19]. - Medical Products revenue rose by HK$3.7 million or 16.9% to HK$25.6 million, accounting for 67.6% of the Group's total revenue[35]. - The segment profit for Medical Products increased to HK$4.2 million in 2024 from HK$3.3 million in 2023, aided by the reversal of impairment loss under ECL[39]. - The segment loss for Plastic Products in 2024 was approximately HK$1,546,000, an increase of HK$717,000 compared to a loss of approximately HK$829,000 in 2023[109]. - The segment profit from Money Lending amounted to HK$7.3 million, down from HK$14.7 million in 2023[114]. Operational Strategies - The Group plans to maintain liquidity by effectively managing working capital and controlling costs in response to market uncertainties[22]. - The Group aims to optimize its business portfolio and explore new growth potentials to maximize shareholder value[23]. - The Group is focused on dynamic performance evaluation and asset reallocation to adapt to market changes and enhance operational efficiency[24]. - The Group employs a just-in-time production strategy to enhance competitiveness, allowing for quick adjustments in production volumes and product mix according to market demand[85]. - The procurement department monitors raw material consumption and adjusts procurement based on sales orders and forecasts to minimize storage costs and obsolete stock risks[85]. Customer Engagement and Market Development - The Group is actively exploring potential business opportunities to expand its customer base in the Medical Devices Business[18]. - The customer base mainly consists of users and distributors in the PRC, including retailers and trading companies[51][54]. - The Group is actively seeking new opportunities to broaden its customer base through various channels, including referrals and business events[52][53]. Investment and Financial Management - The Group recorded loan interest income of HK$11.2 million from its Money Lending, representing a decrease of HK$0.6 million or 5.1% compared to HK$11.8 million for the previous year, accounting for 29.7% of the Group's total revenue[114]. - The Group experienced net impairment losses of approximately HK$3.0 million for expected credit losses and write-offs on loan and interest receivables for the year ended December 31, 2024[120]. - The Group intends to diversify its investment portfolio to reduce concentration and investment risks in light of recent market volatility[137]. - The Group has a policy for assessing credit risk based on close monitoring, including aging analysis and past collection history[134]. Governance and Management - The Group's management team includes experienced professionals with backgrounds in finance, human resources, and e-commerce[163][164][173]. - The Board consists of two Executive Directors and three Independent Non-executive Directors, ensuring a balanced composition[178]. - The Company complied with all provisions of the Corporate Governance Code throughout the year ended December 31, 2024, with certain disclosed deviations[175]. - Each Executive Director is suitably qualified and possesses sufficient experience to effectively carry out their duties[191]. Quality Control and Production - The Group emphasizes consistent product quality through a stringent quality control system to meet relevant medical device standards[45][48]. - Quality control measures are implemented throughout the production process to ensure that finished products meet safety standards and customer specifications[78]. - The Group's production process includes manual testing and assembly steps to ensure the quality of medical devices before packaging[90]. Future Outlook - The Board anticipates stable market demand for medical products, particularly lancet piping parts and devices, due to the increasing prevalence of diabetes, projected to affect 783 million adults by 2045[103]. - The demand for medical products is expected to grow due to increased public health awareness post-COVID-19, with stable revenue anticipated from pandemic-related products[106].

Group 1 - The stock of Puli Pharmaceutical (普利制药) entered the delisting preparation period, with its stock price plummeting by over 70% at one point, reaching a maximum drop of 77.51% during trading [4][5][7] - The company previously announced that its 2021 and 2022 annual reports contained false records, with a total false profit amounting to 669 million yuan, accounting for 73.83% of the total disclosed profits for those two years [7] - The delisting preparation period for the company's stock and convertible bonds started on April 28, 2025, lasting for fifteen trading days, with the expected last trading date on May 21, 2025 [7][8] Group 2 - During the delisting preparation period, the company's stock will trade on the Shenzhen Stock Exchange's risk warning board, with no price limits on the first day, followed by a daily limit of 20% thereafter [8] - The company has warned investors that its stock is classified as a special security under the Shenzhen Stock Connect, meaning investors can only sell and not buy, which may affect future trading [8] Group 3 - In the A-share market, other sectors such as steel, internet, banking, and electricity showed gains, while real estate, tourism, and home goods sectors experienced declines [2] - Goldwind Technology (金风科技) reported a significant increase in its first-quarter revenue for 2025, achieving 9.472 billion yuan, a year-on-year growth of 35.72%, and a net profit of 568 million yuan, up 70.84% [3]

Group 1 - The core point of the news is the significant decline in the stock price of Puli Pharmaceutical (普利制药), which dropped over 70% due to financial fraud allegations and subsequent delisting announcements [1][3][4] - Puli Pharmaceutical's stock and convertible bonds will be delisted following a notice from the Shenzhen Stock Exchange due to financial misconduct, with the last trading day expected to be May 21, 2025 [1][3] - The company reported a total of 669 million yuan in false profits for the years 2021 and 2022, which accounted for 73.83% of the total profits disclosed for those years [3][4] Group 2 - The ST (Special Treatment) sector experienced a wave of stock price declines, with over 30 stocks hitting the daily limit down, indicating a broader market reaction to the news of Puli Pharmaceutical [3][4] - Several other companies, including Lihang Technology and Gengxing Co., announced temporary suspensions and risk warnings, indicating potential delisting risks for multiple firms [3][5] - The PEEK material sector saw a rise in stock prices, with companies like Xinhang New Materials and Kent Co. increasing by over 13%, suggesting a divergence in market performance amid the broader downturn [6][8]

Core Viewpoint - The Shenzhen Stock Exchange has announced the termination of the listing of Hainan Puli Pharmaceutical Co., Ltd. due to significant financial fraud, which involved false reporting of profits totaling 669 million yuan over two years, constituting 73.83% of the reported profits for those years [1][3][5]. Financial Fraud Details - Puli Pharmaceutical falsely recognized sales revenue and profits by fabricating sales of finished and raw pharmaceutical products, leading to inflated revenues of 436 million yuan in 2021 and 456 million yuan in 2022, which represented 28.90% and 25.23% of the reported revenues for those years, respectively [4][5]. - The company also misreported revenues from trading activities, resulting in additional inflated revenues of 78 million yuan in 2021 and 59 million yuan in 2022, accounting for 5.17% and 3.28% of the reported revenues [4][5]. Regulatory Actions - Following the issuance of the administrative penalty decision by the China Securities Regulatory Commission (CSRC), the Shenzhen Stock Exchange initiated the process for terminating the listing of Puli Pharmaceutical's stock and convertible bonds [7][8]. - The stock was suspended from trading on March 24, 2025, with a closing price of 2.49 yuan per share and a total market value of 1.398 billion yuan [8]. Company Background - Puli Pharmaceutical, established in 1992, specializes in drug research, production, and sales, and was listed on the Shenzhen Stock Exchange's Growth Enterprise Market in 2017 [8]. Ongoing Investigations and Consequences - The CSRC has indicated that administrative penalties and forced delisting are not the end of the matter, as they will pursue comprehensive accountability for those involved in the financial fraud [12]. - The CSRC has also emphasized the importance of protecting investors' rights and will assist affected investors through various legal means [12].

Company Overview - JunTai Holdings Limited is a Bermuda-registered company primarily engaged in the manufacturing and sales of medical equipment, plastic molds, and data media products [3] - The company expanded its medical equipment and plastic mold manufacturing business through the acquisition of the Titron Group in October 2011 [3] Financial Performance - As of December 31, 2024, JunTai Holdings reported total revenue of 34.9969 million yuan, representing a year-on-year growth of 10.07% [2] - The company recorded a net profit attributable to shareholders of -1.1418 million yuan, showing a year-on-year increase of 55.21% [2] - The gross profit margin stood at 36.89%, while the debt-to-asset ratio was 62.26% [2] Stock Performance - Over the past month, JunTai Holdings has experienced a cumulative decline of 22.54%, and a year-to-date decline of 54.17%, underperforming the Hang Seng Index, which has risen by 4.26% [2] - As of April 14, the stock price was 0.062 HKD per share, reflecting a 12.73% increase with a trading volume of 80,000 shares and a turnover of 5,050 HKD [1] Valuation Metrics - Currently, there are no institutional investment ratings for JunTai Holdings [3] - The company's price-to-earnings (P/E) ratio is -43.16, ranking 60th in the industry, compared to the average P/E ratio of -22.01 for the healthcare equipment and services sector [3] - Other companies in the same sector have P/E ratios such as Giant Medical Holdings at 0.17, Jingjiu Health at 0.38, and others ranging up to 4.97 [3]

Financial Performance - For the fiscal year ending December 31, 2024, the company reported total revenue of HKD 37,792,000, an increase of 10.7% from HKD 34,333,000 in 2023[4] - The gross profit for the same period was HKD 13,940,000, a decrease of 5.8% compared to HKD 14,808,000 in 2023[4] - The net loss for the year was HKD 1,233,000, an improvement of 55.2% from a net loss of HKD 2,753,000 in 2023[5] - The company’s equity total decreased to HKD 60,128,000 from HKD 61,361,000, a decline of 2.0%[6] - The overall loss attributable to the company's owners was HKD 1,200,000, a reduction of HKD 1,600,000 or 57.1% compared to the loss of HKD 2,800,000 in the previous year[41] - The company reported a pre-tax loss of HKD 1,233,000 for 2024, improved from a loss of HKD 1,713,000 in 2023[22] Cash Flow and Assets - The company’s cash and cash equivalents decreased to HKD 4,583,000 from HKD 7,716,000, representing a decline of 40.8%[6] - The company’s total assets decreased to HKD 159,330,000 from HKD 168,718,000, a decline of 5.6%[6] - Total assets decreased from HKD 168,614,000 in 2023 to HKD 159,330,000 in 2024[22] - The group’s cash and bank balances totaled HKD 4,600,000 as of December 31, 2024, a decrease of HKD 3,100,000 from HKD 7,700,000 in 2023[83] Inventory and Liabilities - Inventory increased significantly to HKD 11,409,000, up 57.5% from HKD 7,262,000 in 2023[6] - Total trade and other payables decreased to HKD 65,502,000 from HKD 76,457,000, showing improved management of liabilities[39] - The segment liabilities decreased from HKD 67,876,000 in 2023 to HKD 58,760,000 in 2024[22] Business Operations and Strategy - The company plans to continue focusing on the sales of medical products and plastic mold products while monitoring loan collections closely[11] - The company is committed to strict cost control measures to optimize operational efficiency and manage expenses effectively[11] - The company has ceased operations in construction services, which included building maintenance and improvement projects[7] - The company has ceased operations of a subsidiary, Andy Engineering, due to the inability to renew contractor registration, impacting its construction services segment[34] Revenue Segments - Total revenue from external customers for the medical products business was HKD 25,566,000, while the plastic products business generated HKD 1,007,000[20] - Revenue from medical products increased to HKD 25,566,000 in 2024 from HKD 21,938,000 in 2023, representing a growth of approximately 16%[25] - Medical products revenue for the year ended December 31, 2024, reached HKD 25,600,000, an increase of 16.9% or HKD 3,700,000 compared to HKD 21,900,000 in the previous year, accounting for 67.6% of the group's total revenue[43] - Revenue from the plastic products business increased by 66.7% to HKD 1,000,000, accounting for 2.7% of total revenue[67] Impairment and Losses - The company recognized a net impairment loss of HKD 1,300,000 across its segments, with specific losses of HKD 4,267,000 in the medical products business and gains of HKD 2,967,000 in the plastic products business[20] - The company recorded a net loss of HKD 1,554,000 from other income and losses in 2024, compared to a loss of HKD 8,115,000 in 2023[30] - The group recorded realized and unrealized losses of HKD 1,800,000 in securities investment for the year ending December 31, 2024, compared to losses of HKD 8,500,000 in 2023[78] Credit and Lending - The lending business reported a profit of HKD 7,250,000, whereas the securities investment business incurred a loss of HKD 1,807,000, resulting in a total segment profit of HKD 8,122,000[20] - The lending business recorded interest income of HKD 11,200,000, a decrease of 5.1% from HKD 11,800,000 in the previous year, representing 29.7% of total revenue[70] - The loan portfolio as of December 31, 2024, includes 71 borrowers, with amounts ranging from HKD 100,000 to HKD 10,000,000 and interest rates between 4.0% and 12.0%[73] - Impairment losses for expected credit losses amounted to approximately HKD 3,000,000 for the year ended December 31, 2024[72] Compliance and Governance - The company has not early adopted any new or revised Hong Kong Financial Reporting Standards that have been issued but are not yet effective, indicating a stable compliance approach[14] - The company has complied with the corporate governance code as per the Hong Kong Stock Exchange rules throughout the year[92] - The audit committee, composed of three independent non-executive directors, reviewed the accounting principles and internal controls for the year ended December 31, 2024[95] Market and Customer Insights - The group has established a wide customer base in Hong Kong and China, with most customers being users or distributors in China, including medical research centers and healthcare companies[46] - The company collaborates closely between sales and product development teams to ensure customer specifications are met effectively[55] - According to the International Diabetes Federation, 10.5% of adults aged 20 to 79 have diabetes, with projections indicating a 46% increase by 2045, suggesting stable market demand for blood sampling devices and equipment[66] Future Outlook - The group plans to diversify its investment portfolio to reduce concentration and investment risks due to recent market volatility[78] - The management team, led by experienced executives, plays a critical role in driving business growth and maintaining market share through their industry knowledge and business networks[47] - The company aims to maintain business growth while balancing risk management through prudent credit control procedures[70]

Core Viewpoint - Puli Pharmaceutical (300630) is facing potential delisting due to significant violations related to false disclosures in its 2021 and 2022 annual reports, as identified by the China Securities Regulatory Commission (CSRC) [1][2][3] Group 1: Regulatory Actions - On January 5, Puli Pharmaceutical announced it received an administrative penalty notice from the CSRC, indicating that its 2021 and 2022 annual reports contained false records [1] - The company is set to be placed under a major violation delisting risk warning starting January 7, pending the final administrative penalty decision [1][3] - The CSRC has initiated an investigation into the company for suspected information disclosure violations [2] Group 2: Financial Misrepresentation - The CSRC's notice revealed that the total false revenue reported for 2021 and 2022 amounted to approximately 1.031 billion yuan, representing 31.08% of the total reported revenue for those years [2] - The total false profit reported for the same period was approximately 695 million yuan, accounting for 76.72% of the total reported profit [2][3] Group 3: Consequences and Market Reactions - Puli Pharmaceutical's stock will be suspended for one day on January 6 and will receive a delisting risk warning starting January 7 [3] - The company must disclose updates on the situation every five trading days during the delisting risk warning period [3] - The company has faced over 30 risk warning announcements regarding the potential for major violations leading to delisting [5] Group 4: Broader Regulatory Context - The Chinese government has adopted a "zero tolerance" policy towards financial fraud, emphasizing strict enforcement of delisting regulations [7] - Recent regulatory measures aim to enhance accountability for financial misconduct, including potential criminal charges for responsible parties [7][8] - The ongoing crackdown on financial fraud is intended to restore investor confidence and maintain market integrity [8]

Revenue and Profitability - For the six months ended 30 June 2024, the Group's revenue decreased by HK$1.3 million or 5.6% to HK$22.0 million compared to HK$23.3 million in the same period last year[4] - Gross profit increased by HK$1.9 million or 38.8% to HK$6.8 million, with a gross profit margin rising by 9.7 percentage points to 30.8%[4] - The Medical Products Business generated revenue of HK$16.3 million, accounting for 74.2% of the Group's total revenue, remaining stable compared to HK$16.4 million in the previous year[6] - The Money Lending Business recorded loan interest income of HK$5.7 million, a decrease of HK$0.3 million or 5.0% from HK$6.0 million in the prior year, representing 25.8% of total revenue[14] - The overall loss attributable to owners of the Company was HK$25.4 million, a decrease of HK$4.3 million compared to a loss of HK$29.7 million in the corresponding period of 2023[5] - The segment profit of the Medical Products Business increased to HK$1.7 million from HK$1.4 million in the previous year, indicating effective cost management strategies[9] - The Group's lending business segment reported a loss of HK$700,000 for the period, an improvement from a loss of HK$800,000 in the same period last year[15] - The loss before income tax improved to HK$25,429,000, a reduction of 14.8% from HK$29,673,000 in the previous year[51] Expenses and Cost Management - Distribution costs decreased by HK$0.5 million to HK$2.2 million, while administrative expenses decreased by HK$4.2 million or 41.6% to HK$5.9 million due to stringent cost control[5] - Other losses during the period amounted to HK$22.9 million, compared to a loss of HK$20.3 million in the same period last year, influenced by fair value changes in securities investments[4] - The Group's securities investment segment incurred a net unrealised and realised loss of HK$22.9 million for the six months ended June 30, 2024, compared to a loss of HK$11.0 million for the same period last year[15] Financial Position - As of June 30, 2024, the Group's consolidated net asset was approximately HK$35.9 million, a decrease of approximately HK$25.5 million from HK$61.4 million as of December 31, 2023[23] - The Group's total cash and bank balances amounted to approximately HK$4.6 million as of June 30, 2024, down HK$3.1 million from HK$7.7 million as of December 31, 2023[23] - The Group's gearing ratio increased to 73.2% as of June 30, 2024, compared to 37.8% as of December 31, 2023[23] - The Group's current ratio was 2.0 as of June 30, 2024, down from 2.2 as of December 31, 2023[24] - The Group had no borrowings from financial institutions as of June 30, 2024, and December 31, 2023[23] - The Group had bond payables of HK$30.0 million as of June 30, 2024, unchanged from December 31, 2023[23] - The Group's total trade and other receivables as of June 30, 2024, amounted to HK$94,586,000, down from HK$108,272,000 as of December 31, 2023, indicating a reduction of about 12.6%[84] - Trade receivables from contracts with customers were HK$41,798,000 as of June 30, 2024, compared to HK$45,294,000 as of December 31, 2023, reflecting a decrease of approximately 7.3%[84] Investment Strategy - The Group aims to enhance competitiveness by revitalizing its scaffolding business and focusing on segments with higher profit margins, such as money lending operations[18] - The Group will continue to maintain a diversified investment portfolio to minimize potential financial risks and will conduct constant performance appraisals to evaluate ongoing business development[20] - The Group's investment strategy focuses on maximizing sustained long-term returns while maintaining stable growth in traditional business areas[19] - As of June 30, 2024, the Group held 27 listed equity securities in Hong Kong with a fair value of HK$25.3 million, and intends to diversify its investment portfolio to reduce concentration and investment risks[15] Share Options and Corporate Governance - The company has granted share options totaling 3,724,000 shares to each of the three directors, representing approximately 0.38% of the issued share capital as of June 30, 2024[33] - The share options were granted under the Share Option Scheme at an exercise price of HK$0.435 per share, established on May 4, 2020[34] - The maximum number of shares that may be issued upon the exercise of all share options under the Share Option Scheme is capped at 10% of the issued share capital on the date of approval[39] - The Share Option Scheme is valid for ten years and will expire on June 29, 2025[39] - The company has complied with all provisions of the Corporate Governance Code for the six months ended June 30, 2024[50] - The audit committee consists of three independent non-executive directors who reviewed the accounting principles and practices adopted by the group[50] Employee and Management Information - The Group's employee count remained stable at 30 as of June 30, 2024, consistent with December 31, 2023[29] - The remuneration for key management personnel decreased slightly from HK$426,000 in the previous year to HK$408,000 for the six months ended June 30, 2024[98] Other Financial Information - The Group incurred no depreciation charge on property, plant, and equipment for the six months ended June 30, 2024, compared to HK$140,000 for the same period in 2023[81] - The Group allows a credit period of up to 90 days to its trade customers, consistent with the previous period[85] - The Group's loan receivables are interest-bearing at rates ranging from 4% to 12% per annum, consistent with the previous period[86] - The total trade and other payables decreased from HK$76,457,000 as of December 31, 2023, to HK$66,698,000 as of June 30, 2024, a decrease of approximately 12.7%[88]

Financial Performance - For the six months ended June 30, 2024, the Group's revenue amounted to HK$22.0 million, a decrease of HK$1.3 million or 5.6% from HK$23.3 million in the corresponding period last year[7]. - The Group's gross profit was HK$6.8 million, representing an increase of HK$1.9 million or 38.8% compared to HK$4.9 million for the same period last year, with a gross profit margin increase of 9.7 percentage points to 30.8%[7]. - The overall loss attributable to owners of the Company was HK$25.4 million, a decrease of HK$4.3 million compared to a loss of HK$29.7 million for the same period last year[9]. - Revenue for the six months ended June 30, 2024, was HK$22,007,000, a decrease of 5.4% compared to HK$23,259,000 in 2023[54]. - Gross profit increased to HK$6,782,000, up 38.1% from HK$4,906,000 in the previous year[54]. - Loss before income tax improved to HK$25,429,000, a reduction of 14.8% from HK$29,673,000 in 2023[54]. - Basic and diluted loss per share improved to HK(2.63) cents from HK(3.36) cents in the previous year[54]. - The consolidated loss before income tax for the six months ended June 30, 2024, was HK$25,429,000, compared to a loss of HK$29,673,000 for the same period in 2023, indicating an improvement of approximately 14.8%[77]. Revenue Breakdown - Revenue from the Medical Products Business was stable at HK$16.3 million, compared to HK$16.4 million in the same period last year, accounting for 74.2% of the Group's total revenue[9]. - Revenue from the Plastic Products Business decreased to HK$Nil million, down from HK$0.6 million in the same period last year, accounting for 0% of the Group's total revenue[12]. - Revenue from external customers for the Medical Devices Business was HK$16,327,000 for the six months ended 30 June 2024[67]. - The Money Lending Business generated revenue of HK$5,680,000 during the same period[67]. - Total reportable segment revenue for the Group was HK$22,007,000 for the six months ended 30 June 2024[67]. Expenses and Costs - Other losses during the period amounted to HK$22.9 million, compared to a loss of HK$20.3 million in the corresponding period of 2023[7]. - Distribution costs decreased by HK$0.5 million to HK$2.2 million during the period under review[9]. - Administrative expenses decreased by HK$4.2 million to HK$5.9 million, representing a decrease of 41.6% over the corresponding period last year[9]. - Finance costs amounted to HK$1.2 million, down from HK$1.4 million in the same period last year[9]. - The cost of inventories recognized as expenses for the six months ended June 30, 2024, was HK$15,225,000, a decrease from HK$17,908,000 in 2023, indicating a reduction of approximately 15%[83]. Investment and Assets - The Group recorded a net unrealised and realised loss of HK$22.9 million from its securities investment, compared to a loss of HK$11.0 million for the same period last year[19]. - As of 30 June 2024, the outstanding principal and interest amount of loan receivables was HK$147.0 million, down from HK$153.5 million as of 31 December 2023[16]. - As of June 30, 2024, the Group's consolidated net asset was approximately HK$35.9 million, a decrease of approximately HK$25.5 million from HK$61.4 million as of December 31, 2023[30]. - The Group's total cash and bank balances amounted to approximately HK$4.6 million as of June 30, 2024, down HK$3.1 million from HK$7.7 million as of December 31, 2023[30]. - The Group's gearing ratio increased to 73.2% as of June 30, 2024, compared to 37.8% as of December 31, 2023[30]. Share Options and Capital - The Share Option Scheme was adopted on June 30, 2015, to incentivize eligible participants for their contributions to the Group[45]. - The maximum number of shares that may be issued upon the exercise of all share options under the Share Option Scheme is capped at 10% of the issued share capital of the Company at the time of approval[46]. - The exercise price of share options must be at least the highest of the closing price on the grant date, the average closing price for the five business days preceding the grant date, or the nominal value of a share[46]. - The Company has authorized a maximum of 48,377,589 share options under the Share Option Scheme as of June 30, 2022[48]. - The issued and fully paid share capital as of June 30, 2024, is 967,551,792 shares, totaling HK$48,378,000[106]. Corporate Governance - The Company has complied with all code provisions of the Corporate Governance Code for the six months ended June 30, 2024[53]. - The Audit Committee has reviewed the accounting principles and practices adopted by the Group and discussed financial reporting matters for the six months ended June 30, 2024[53]. - The Company has confirmed full compliance with the Model Code for securities transactions by Directors during the six months ended June 30, 2024[53]. Employee and Management - The Group has 30 employees as of June 30, 2024, with remuneration largely based on performance and industry practices[39]. - The remuneration of key management personnel for the six months ended June 30, 2024, was HK$408,000, a decrease from HK$426,000 in the same period of 2023[109].

Financial Performance - The total revenue of AMCO United Holding Limited decreased by HK$32.2 million or 48.4%, from HK$66.5 million in 2022 to HK$34.3 million in 2023[13]. - The loss for the year improved significantly to HK$2.75 million in 2023 from HK$104.25 million in 2022[6]. - Overall loss attributable to owners of the Company was HK$2.8 million, a significant decrease of 97.3% from a loss of HK$104.3 million in 2022[31]. - The Group recorded a realized and unrealized loss of HK$8.5 million in 2023 from changes in the fair value of held-for-trading investments, compared to a loss of HK$4.6 million in 2022[153]. - The segment loss from Securities Investment amounted to HK$8.8 million in 2023, an increase from a loss of HK$4.6 million in 2022[153]. Equity and Assets - Equity attributable to owners of the Company increased to HK$61.36 million in 2023 from HK$18.59 million in 2022[6]. - The Group's consolidated net assets increased to HK$61.4 million as of December 31, 2023, up from HK$18.6 million as of December 31, 2022[165]. - The Group's total cash and bank balances amounted to HK$7.7 million as of December 31, 2023, an increase of HK$4.0 million from HK$3.7 million as of December 31, 2022[169]. - As of December 31, 2023, the carrying amount of the plant and machinery is approximately HK$Nil, down from HK$1.1 million in 2022[98]. Financial Ratios - The current ratio improved to 2.2 in 2023 from 1.7 in 2022, indicating better short-term financial health[6]. - The total debt to total assets ratio decreased to 0.6 in 2023 from 0.9 in 2022, reflecting reduced leverage[6]. - The Group's gearing ratio improved to 37.8% as of December 31, 2023, compared to 277.1% as of December 31, 2022[174]. Revenue Breakdown - Revenue from medical products dropped by 59.7% or HK$32.5 million, accounting for 63.9% of the Group's total revenue in 2023[37]. - Revenue from the Building Contract Works Business decreased due to fewer contract awards in both public and private sectors[17]. - Revenue from the Medical Products Business totaled HK$21.9 million for the year ended December 31, 2023, with Customer A contributing HK$10.1 million and Customer B contributing HK$8.3 million[112]. - Revenue from Plastic Products decreased by 45.5% to HK$0.6 million, accounting for 1.8% of the Group's total revenue, with a segment loss of approximately HK$829,000[118][123]. Business Segments - The Money Lending Business generated stable income for the Group in 2023, contrasting with losses in the Securities Investment segment[18]. - The Building Contract Works Business generated no revenue for the year, a decrease of HK$2.7 million or 100%, resulting in a segment loss of HK$1.0 million[120][124]. - Loan interest income from Money Lending increased by 8.3% to HK$11.8 million, accounting for 34.3% of the Group's total revenue, with a segment profit of HK$14.7 million[127]. Cost Management - Distribution and administrative expenses decreased by HK$11.0 million or 44.0% to HK$14.0 million compared to HK$25.0 million in 2022[30]. - The Group is implementing strict cost control measures and streamlining business processes to maintain competitive advantages[14]. Credit and Risk Management - The expected credit loss (ECL) provision was reversed by approximately HK$7.9 million in 2023, compared to a provision of approximately HK$76.3 million in 2022[31]. - The credit loss rate applied for loan receivables was 47.1% in 2023, slightly up from 46.3% in 2022[36]. - JS Finance has adjusted its lending strategy to enhance borrower requirements, including the need for asset or income proof to lower the default ratio[132]. Investment Strategy - The Group intends to diversify its investment portfolio to reduce concentration and investment risks due to recent market volatility[154]. - The Group will maintain a prudent investment attitude and develop strategies to improve capital usage efficiency and generate additional returns on idle funds[154]. Operational Efficiency - The Group will focus on reallocating assets and resources to adapt to changing market conditions and enhance operational efficiency[23]. - The Group emphasizes just-in-time production to minimize storage costs and the risk of obsolete stock, adjusting production volumes and pricing strategies based on actual market demand[92]. Employee Management - As of December 31, 2023, the group has 30 employees, maintaining the same number as the previous year[183]. - Employee compensation is determined based on performance and experience, with benefits including salary, insurance, mandatory provident fund, and stock option plans[183]. Corporate Governance - The company has complied with all code provisions of the Corporate Governance Code throughout the year ended December 31, 2023, with certain disclosed deviations[200].