Financial Performance - Revenue for 2019 decreased to HK$67,707,000 from HK$112,279,000 in 2018, representing a decline of approximately 39.6%[21] - The loss for the year increased to HK$34,546,000 in 2019 compared to a loss of HK$26,752,000 in 2018[21] - The equity attributable to owners of the Company decreased to HK$106,287,000 in 2019 from HK$135,835,000 in 2018, a reduction of about 21.7%[21] - The total assets of the Group decreased to HK$192,817,000 in 2019 from HK$234,093,000 in 2018, a decline of approximately 17.6%[21] - The return on total assets was (17.9%) in 2019, compared to (11.4%) in 2018, indicating a worsening financial performance[21] - The return on sales was (51.0%) in 2019, significantly lower than (23.8%) in 2018, reflecting increased operational challenges[21] - The Group's overall performance was impacted by the challenging economic and trade environment, but it maintained stable gross margins in sales and services[39] - Gross profit decreased by HK$4.8 million or 20.3% to HK$18.8 million, while the gross profit margin increased by 6.8 percentage points to 27.8%[52] - Overall loss attributable to owners of the Company was HK$34.5 million, an increase of HK$7.8 million or 29.2% compared to a loss of HK$26.7 million in 2018[54] Business Segment Performance - The Medical Devices Business experienced a significant decline in sales orders, leading to a shift from profit to loss despite higher margins[37] - The Plastic Moulding Business continued to see revenue decline due to the end of product life cycles, although segment losses decreased due to cost containment measures[38] - The Medical Equipment Business experienced a significant decline in revenue due to a major customer's order drop, resulting in a shift from profit to loss despite improved price margins[40] - Revenue from the Plastic Moulding Business decreased by 17.6% or HK$0.3 million to HK$1.4 million, accounting for 2.1% of the Group's total revenue[61] - Segment loss of the Plastic Moulding Business decreased by 86.1% or HK$0.31 million to HK$0.05 million for the year under review[62] - Revenue from the Building Contract Works Business decreased by HK$17.3 million or 31.7% to HK$37.3 million for the year ended 31 December 2019, contributing 55.1% of the Group's total revenue[65] - Segment loss for the Building Contract Works Business increased to HK$11.3 million in 2019 from HK$5.0 million in 2018, primarily due to a decrease in gross profit margin and an impairment loss on goodwill of HK$7.9 million[65] - The Money Lending Business generated stable income with both segment revenue and profit increasing in 2019[44] Cost Management and Operational Strategies - The Group implemented strict cost control measures and streamlined operations to address challenges in the Medical Equipment and Plastic Moulds Businesses[40][46] - The Group has ceased production of low gross profit margin products in the Plastic Moulding Business and is focusing on higher margin orders[61] - The Group plans to continue tendering for higher-margin contracts in the construction sector despite a challenging market environment[45] - The Group will continue to focus on tendering for projects with higher margins and managing contract and operating costs to improve business results[69] Investment and Financial Management - The Group will actively monitor and reassess its investment portfolio in the Securities Investment segment, which recorded a stable loss compared to the previous year[44] - The Group intends to diversify its investment portfolio to reduce concentration and investment risks in light of recent market volatility[75] - The Group's Securities Investment segment recorded an unrealised loss of HK$10.9 million for the year ended 31 December 2019, compared to an unrealised loss of HK$10.0 million in 2018[72] - The Group's total borrowings from financial institutions were zero as of December 31, 2019[87][91] - The Group's total cash and bank balances amounted to HK$12.3 million as of December 31, 2019, down HK$6.0 million from HK$18.3 million as of December 31, 2018[87][91] Corporate Governance - The company has complied with all code provisions of the Corporate Governance Code throughout the year ended December 31, 2019[116] - The Board consists of two Executive Directors and three Independent Non-executive Directors, ensuring a balanced governance structure[116] - The company is committed to maintaining high standards of corporate governance, emphasizing accountability and transparency to shareholders[116] - The Board oversees the Group's businesses, strategic decisions, and performance, delegating day-to-day responsibilities to Executive Directors and senior management[116] - The Company has arranged insurance cover to indemnify Directors and officers against costs and liabilities incurred in the execution of their duties[144] - The Company monitors compliance with legal and regulatory requirements as part of its governance duties[149] Board and Committee Activities - The Audit Committee held two meetings during the year to review the audited financial statements for the year ended December 31, 2018, and the unaudited interim financial statements for the six months ended June 30, 2019[181] - The Nomination Committee is responsible for reviewing the Board's structure, size, and diversity at least annually[162] - The Remuneration Committee reviewed and recommended the remuneration packages for Executive Directors and senior management for the year ended December 31, 2019[160] - The Investment and Management Committee is responsible for managing daily operations and evaluating proposed investment activities, particularly those with a percentage ratio equal to or higher than 5%[187] - The Board has adopted a Board Diversity Policy to enhance performance quality through diverse Board composition[175] Employee and Management Information - The Group employed 44 individuals as of December 31, 2019, an increase from 42 in 2018[94] - Employee remuneration is largely performance-based, including salaries, insurance, and share option schemes[94] - Other employee benefits include medical cover, housing allowance, and discretionary bonuses[94] - The Financial Controller has over 10 years of experience in auditing, accounting, and financial management, enhancing the company's financial oversight[108] - The company secretary has held various management positions, bringing extensive experience in corporate governance and compliance[110]

Financial Performance - For the six months ended June 30, 2019, the Group's revenue was HK$45.5 million, a decrease of HK$9.7 million or 17.6% from HK$55.2 million in the same period last year[10]. - The Group's gross profit was HK$11.5 million, an increase of HK$0.8 million or 7.5%, with a gross profit margin rising by 5.9 percentage points to 25.3%[11]. - The Group recorded a loss attributable to owners of the Company of HK$16.5 million, compared to a profit of HK$3.4 million in the same period last year[17]. - Loss before income tax for the period was HK$16,463,000, compared to a profit of HK$3,343,000 in the same period of 2018[97]. - Basic and diluted loss per share was HK(0.88) cent, compared to earnings of HK0.18 cent per share in the previous year[97]. - The Group recorded other losses of HK$3.3 million, compared to other income of HK$5.0 million in the same period last year[12]. - Administrative expenses rose by HK$10.8 million to HK$23.1 million, an increase of 87.8% from HK$12.3 million[17]. - The Group's consolidated loss before income tax for the six months ended June 30, 2019, was HK$16,463,000, compared to a profit of HK$3,343,000 in 2018[177]. Business Segment Performance - The Medical Devices Business generated revenue of HK$17.5 million, down 10.7% or HK$2.1 million from HK$19.6 million, accounting for 38.5% of total revenue[17]. - The segment profit for the Medical Devices Business was HK$1.5 million, a decrease of HK$0.1 million or 6.3% compared to HK$1.6 million in the previous year[17]. - Revenue from the Plastic Moulding Business increased by HK$0.2 million or 66.7% to HK$0.5 million, representing 1.1% of the Group's total revenue[19]. - Revenue from the Building Contract Works Business decreased by HK$9.3 million or 29.9% to HK$21.8 million for the six months ended June 30, 2019, compared to HK$31.1 million for the corresponding period in 2018[23]. - Segment loss of the Building Contract Works Business increased to HK$5.1 million for the six months ended June 30, 2019, compared to HK$0.06 million for the same period in 2018[23]. - Loan interest income from the Money Lending Business increased by HK$1.5 million or 35.7% to HK$5.7 million for the six months ended June 30, 2019, compared to HK$4.2 million for the corresponding period last year[27]. - Segment profit from the Money Lending Business amounted to HK$5.1 million for the six months ended June 30, 2019, compared to HK$4.1 million for the same period in 2018[27]. Investment and Financial Position - As of June 30, 2019, the Group's consolidated net asset was approximately HK$124.4 million, a decrease of approximately HK$11.4 million compared to HK$135.8 million as of December 31, 2018[51]. - The Group's total cash and bank balances amounted to approximately HK$11.9 million as of June 30, 2019, down HK$6.4 million from HK$18.3 million as of December 31, 2018[51]. - The Group's gearing ratio was 17.4% as of June 30, 2019, compared to 9.1% as of December 31, 2018[51]. - The Group's current ratio and quick ratio were both 3.5 as of June 30, 2019, an increase from 3.3 as of December 31, 2018[53]. - The outstanding principal and interest amount of loan receivables as at 30 June 2019 was HK$142.9 million[27]. - The Group has made a loss allowance for expected credit loss of HK$3.7 million for loan receivables as at 30 June 2019[27]. - The Group's cash and bank balances at 1 January 2019 were HK$18,300,000, compared to HK$26,276,000 at the same time in 2018, showing a decrease of approximately 30.5%[108]. Operational Strategies and Future Outlook - The Group is implementing strategies to streamline and outsource business processes, enforce strict cost control, and ensure effective resource utilization to maintain competitive advantages[17]. - The Group will continue to focus on tendering for projects with higher margins in both public and private sectors[25]. - The Group aims to enhance profit margins through effective cost control and working capital management[46]. - The year 2019 is expected to be challenging due to economic uncertainty and ongoing political unrest in Hong Kong[45]. - The Group intends to leverage its existing technical knowledge to diversify income streams and achieve sustainable growth[40]. - The Group will focus on expanding business segments with higher profit margins and growth potential, such as money lending and securities brokerage[42]. Share Option Scheme - The Share Option Scheme allows the Board to grant share options to eligible participants, with options to be accepted within 28 days from the date of the grant letter[59]. - 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 prior, or the nominal value of a share[60]. - The maximum number of shares that may be issued upon the exercise of all share options under the Share Option Scheme must not exceed 10% of the issued share capital of the Company at the time of approval[61]. - At the annual general meeting on June 17, 2019, the Company was authorized to refresh the scheme mandate limit to issue a maximum of 186,267,948 share options under the Share Option Scheme[66]. - The total number of shares issued upon exercise of share options in any 12-month period shall not exceed 1% of the shares in issue unless approved by ordinary resolution[64]. - Share options granted to substantial Shareholders or Independent Non-executive Directors exceeding 0.1% of the Company's issued share capital and valued over HK$5 million must be pre-approved by Shareholders[64]. - The Share Option Scheme is valid for ten years and will expire at the close of business on June 29, 2025[65]. Compliance and Governance - The Company has complied with all code provisions of the Corporate Governance Governance Code for the six months ended June 30, 2019[82]. - The Company will review its current structure regarding the roles of Chairman and Managing Director when appropriate[82]. - The Company has maintained a focus on enhancing shareholder value through effective leadership and operational strategies[82].

Financial Performance - Revenue from continuing operations for 2018 was HK$112,279,000, an increase from HK$87,932,000 in 2017, representing a growth of approximately 27.6%[19] - The loss for the year decreased significantly to HK$26,752,000 in 2018 from HK$147,930,000 in 2017, indicating an improvement in financial performance[19] - The equity attributable to owners of the Company decreased to HK$135,835,000 in 2018 from HK$165,683,000 in 2017, reflecting a decline of about 18%[19] - The total assets increased slightly to HK$234,093,000 in 2018 from HK$228,211,000 in 2017, showing a growth of approximately 2.5%[19] - The current ratio for 2018 was 3.3, slightly down from 3.4 in 2017, indicating stable liquidity[19] - The total debt to total assets ratio increased to 0.4 in 2018 from 0.3 in 2017, suggesting a higher leverage position[19] - The return on total assets was (11.4%) in 2018, an improvement from (64.8%) in 2017, indicating better asset utilization despite still being negative[19] - The return on sales was (23.8%) in 2018, improved from (168.2%) in 2017, reflecting a reduction in losses relative to revenue[19] Business Segment Performance - The Medical Devices Business saw an increase in revenue despite lower margins, attributed to a recovery in sales orders and effective cost control measures[35] - The Plastic Moulding Business continued to decline in revenue due to the end of product life cycles, with segment losses increasing, but the company plans to maintain operations as long as it contributes to covering costs[35] - The total revenue of the Group increased by HK$24.4 million or 27.8%, from HK$87.9 million last year to HK$112.3 million for the year ended December 31, 2018[53] - Gross profit of the Group was HK$23.6 million, representing an increase of HK$3.2 million or 15.7% compared to HK$20.4 million in 2017[54] - Gross profit margin decreased by 2.2 percentage points to 21.0% from 23.2% in 2017, primarily due to a decrease in gross profit margin in the Medical Devices Business and Building Contract Works Business[54] - Revenue from the Medical Devices Business increased, contributing to the overall revenue growth despite a decline in profit margin[53] - The Building Contract Works Business generated increased revenue from significant public sector contracts awarded near the end of 2017 and early 2018, but faced challenges from intensified market competition and rising costs[38] - The Money Lending Business generated stable income with both segment revenue and profit increasing in 2018[39] - The Group recorded a segment loss in its Securities Investment business, which was significantly reduced compared to the previous year[39] - The Group plans to continue efforts in tendering for higher-margin projects, particularly in the private sector, to improve results in the Building Contract Works Business[40] Cost Management and Financial Strategy - The Group aims to maintain liquidity through effective working capital management and cost control amidst economic uncertainties[46] - The Group recorded a significant decrease in other losses to HK$9.7 million from HK$128.2 million in 2017, primarily due to reduced unrealised fair value losses on held-for-trading investments[56] - Distribution costs declined by 33.3% to HK$0.2 million from HK$0.3 million in 2017, reflecting stringent cost control measures[56] - The Group plans to diversify its investment portfolio to reduce concentration and investment risks in light of recent market volatility[81] - The Group will maintain a diversified portfolio of investments to minimize possible financial risks[91] Corporate Governance - The Company has complied with all code provisions of the Corporate Governance Code throughout the year ended December 31, 2018[118] - The Board consists of two Executive Directors and three Independent Non-executive Directors, overseeing strategic decisions and performance[118] - The Company aims to meet the requirement of providing at least 14 days' notice for regular board meetings in the future[120] - The Company has adopted high standards of corporate governance to maintain shareholder accountability[118] - The Company has streamlined its operations, focusing on business development, operational efficiency, and financial management during the year ended December 31, 2018[152] Director and Committee Activities - The Board of Directors held four meetings during the year, ensuring accountability and transparency in corporate governance[120] - The Remuneration Committee is tasked with recommending policies and structures for the remuneration of all Directors and senior management[154] - The Audit Committee held two meetings during the year to review the financial reporting process and risk management systems[175] - The Nomination Committee assessed the independence of Independent Non-executive Directors and made recommendations for the re-election of retiring Directors at the 2018 AGM[173] Employee and Operational Insights - The number of employees increased to 42 as of December 31, 2018, from 37 in 2017[97] - Employee remuneration is based on performance and experience, including salaries, insurance, and share option schemes[97] - The Company has maintained a training record for Directors to ensure continuous professional development and compliance with statutory requirements[139] - The Company encourages Directors to participate in training to develop and refresh their knowledge and skills[139]