Financial Performance - The revenue for the year ended December 31, 2024, was approximately HK$120.5 million, a significant decrease of 43.1% compared to HK$211.8 million for the year ended December 31, 2023[21]. - The loss before tax for the year was approximately HK$905.3 million, a decrease of 33.8% from the loss of HK$1,366.6 million in the previous year[21]. - The income tax credit for the year was approximately HK$145.6 million, down from HK$197.4 million in 2023[22]. - The loss attributable to owners of the Company decreased from approximately HK$1,168.0 million in 2023 to approximately HK$760.3 million in 2024[22]. - The company recorded a net loss of HK$30.2 million from the sale of UK Investment Properties, with revenue from these properties decreasing by 32.4% to approximately HK$2.3 million compared to HK$3.4 million in the previous year[70][73]. - The overall segment results, excluding the loss from the sale of UK Investment Properties, showed a loss of approximately HK$798.1 million, a decrease of 39.2% from a loss of approximately HK$1,312.9 million in the previous year[74][77]. Business Strategy and Operations - The Group plans to optimize shopping mall facilities and management to increase consumer flow and support tenants amid the ongoing tariffs trade war[13]. - The flooring materials trading business has faced pressure due to tariffs, prompting the Group to explore markets in China and outside the United States[14]. - The Group will provide support to tenants with overseas market orientations to mitigate the negative impacts of international tariffs[13]. - The Group is implementing a diversified business strategy to enhance the effectiveness and cost-efficiency of its promotional and marketing activities[33]. - The company plans to leverage synergies with its shopping mall business in China to expand domestic sales of flooring and other decorative materials[75][78]. - The Group will engage in debt restructuring for the Guangzhou and Jinzhou Shopping Malls to reduce debt and ensure normal operations[147]. - The Group's actions are aimed at improving its overall asset structure and ensuring sustainable operations in the long term[149]. Legal and Compliance Issues - The company is facing multiple litigation claims that may impact its financial position and operational capabilities[38]. - The Group has engaged PRC legal counsel to advise on the litigation claims and reserves all rights against the sellers of Jinzhou Jiachi, Guangzhou Rongzhi, and Longain[50]. - The enforcement process for the litigation claims is ongoing, and the defendants must report their financial conditions to the relevant PRC court[54]. - Legal counsel has advised that failure to comply with the enforcement notices may result in additional consequences, including travel bans and restrictions on high spending[55]. - The Group became aware of the financial guarantee contracts upon receiving court notices regarding legal claims during the year ended December 31, 2023[110]. Financial Position and Liabilities - As of December 31, 2024, the consolidated net liabilities of the Group increased to approximately HK$1,736.4 million, up by approximately HK$769.6 million from HK$966.8 million as of December 31, 2023[88]. - The Group's bank balances and cash as of December 31, 2024, were approximately HK$364.3 million, compared to approximately HK$147.3 million as of December 31, 2023[89]. - The total debt financing of the Group decreased to approximately HK$1,435.3 million as of December 31, 2024, down from approximately HK$1,673.5 million as of December 31, 2023[90]. - The total deficit attributable to owners of the Company was approximately HK$1,737.2 million as of December 31, 2024, compared to approximately HK$967.0 million as of December 31, 2023[93]. - The Group recognized impairment losses on financial guarantee contracts amounting to RMB1,116,798,000 for the year, compared to RMB854,262,000 for the year ended December 31, 2023, equivalent to approximately HK$1,187,380,000 and HK$939,688,000 respectively[110]. Management and Governance - Mr. Su Shigong was appointed as the executive director and chairman of the company, bringing extensive experience from Sino-Conflux Insurance and HK Bellawings[169]. - Ms. Yang Yuhua was appointed as the CEO and has a strong background in finance, having served as CFO at Saizhi (Tianjin) Properties and HK Bellawings[170]. - The company is focused on enhancing its corporate governance and financial management practices to improve overall performance[167]. - The leadership changes are expected to bring fresh perspectives and strategies to the company's operations and growth initiatives[169][170]. Environmental, Social, and Governance (ESG) Initiatives - The company emphasizes sustainable development in its corporate planning and operations, as outlined in its Environmental, Social and Governance (ESG) Report[198]. - The ESG report covers the Group's business segments including properties investment, flooring and medical equipment trading, mining and exploitation of natural resources, and financial services and assets management for the reporting period from January 1, 2024, to December 31, 2024[199]. - The Group aims to enhance transparency regarding its environmental, social, and governance policies and performance[200]. - The report includes a comprehensive review of the Group's operations during the reporting period[199].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示 概 不 就 因 本 公 告 全 部 或 任 何 部 分 內 容 而 產 生 或 因 倚 賴 該 等 內 容 而 引 致 之 任 何 損 失 承 擔 任 何 責 任。 （於百慕達註冊成立之有限公司） （股份代 號：718） 截至二零二四年十二月三十一日止年度 末期業績公告 太 和 控 股 有 限 公 司（「本公司」）董 事 局（「董事局」或「董 事」）宣 佈 本 公 司 及 其 附 屬 公 司（統 稱 為「本集團」）截 至 二 零 二 四 年 十 二 月 三 十 一 日 止 年 度 之 經 審 核 綜 合 末 期 業 績 連 同 截 至 二 零 二 三 年 十 二 月 三 十 一 日 止 年 度 之 比 較 數 字 如 下： 綜合損益及其他全面收益表 截至二零二四年十二月三十一日止年度 | | | 二零二四年 二零二三年 | | --- | --- | --- | | | | 附 註 千港元 千港元 | | 收 益 | | 4 | | 客戶合約 | ...

INTERIM REPORT 中 期 報 告 C 太和控股有限公司 TAI UNITED HOLDINGS LIMITED (incorporated in Bermuda with limited liability) (於百慕達註冊成立之有限公司) Stock Code 股票代號：718 | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------|-----------------------------------------------|-------|-------|---------------|-------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ...

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 所 產 生 或 因 依 賴 該 等 內 容 而 引 致 之 任 何 損 失 承 擔 任 何 責 任。 （於百慕達註冊成立之有限公司） （股份代 號：718） 截至二零二四年六月三十日止六個月中期業績公告 太 和 控 股 有 限 公 司（「本公司」）董 事 局（「董事局」或「董 事」）宣 佈 本 公 司 及 其 附 屬 公 司（統 稱 為「本集團」）截 至 二 零 二 四 年 六 月 三 十 日 止 六 個 月（「本 報告期間」）之 未 經 審 核 簡 明 綜 合 中 期 業 績 如 下： 簡明綜合損益及其他全面收益表 截至二零二四年六月三十日止六個月 | --- | --- | --- | --- | |--------------------------------------|---------|-----------------|-----------------| | | | ...

Economic Performance - In 2023, the PRC economy grew by 5.2%, with a GDP of RMB 126 trillion, indicating a significant recovery to pre-COVID levels[13]. - The consumer market in China has regained momentum post-pandemic, demonstrating stable economic growth[102]. Revenue and Financial Performance - The Company's revenue for the year ended December 31, 2023, was approximately HK$198 million, a significant increase of 24.4% compared to HK$159.2 million for the year ended December 31, 2022[20]. - The Group recorded a loss before tax of approximately HK$1,366.6 million, a decrease of 14.9% from the loss before tax of HK$1,606.1 million in the previous year[20]. - The income tax credit for the year was approximately HK$197.4 million, leading to a loss attributable to owners of the Company decreasing from approximately HK$1,454.9 million in 2022 to approximately HK$1,168.0 million in 2023[21]. - The overall segment results for the year showed a loss of approximately HK$1,312.9 million, a decrease of 15.8% from a loss of approximately HK$1,558.7 million in the previous year[42]. - The Group's trading business of flooring materials recorded revenue of approximately HK$105.6 million, an increase of 26.6% compared to HK$83.4 million for the year ended December 31, 2022[47]. - Revenue from medical equipment trading increased to approximately HK$28.5 million, representing a 187.9% increase from approximately HK$9.9 million for the year ended December 31, 2022[48]. Asset Management and Challenges - The Group continues to face challenges in asset management and allocation, necessitating thorough communication with stakeholders to protect asset interests[16][18]. - The overall operating environment has improved, but the Group acknowledges ongoing challenges in business operations[16][18]. - The fair value of investment properties decreased to approximately HK$858.3 million due to the adverse impact of the COVID-19 pandemic[23]. - The carrying value of the Mining Rights was approximately HK$11.0 million, a decrease of 41.2% compared to approximately HK$18.7 million for the year ended December 31, 2022[52]. - No revenue was recorded from the mining and exploration of natural resources segment, with the carrying value of mining rights decreasing by approximately 41.2% to HK$11.0 million from HK$18.7 million[55]. Business Strategy and Development - The Group achieved considerable growth in revenue from property investment and flooring materials trading, benefiting from the recovery of global trading[13][15]. - The Group's diversified business strategy includes the acquisition of three shopping malls in Anyang, Jinzhou, and Guangzhou, enhancing its geographical coverage and market presence in China[33]. - The shopping malls in the PRC have initiated new business development strategies, including online and offline shopping and livestreaming, to enhance consumer flow[14]. - The flooring materials trading business has optimized its overseas customer portfolio and is actively exploring domestic market expansion opportunities[15]. - The Group expects promotional campaigns and marketing activities for its shopping malls to become more effective and cost-efficient, potentially increasing market share[33]. Corporate Governance and Management - The Group has a diverse board of directors with members holding advanced degrees in finance, economics, and public affairs[158][162][165]. - The company is committed to maintaining a high level of corporate governance through its experienced board members[162]. - The resignation of key directors may impact the company's strategic direction and governance[162][165]. - The Audit Committee has reviewed the management's position regarding the qualified opinion and has no objections[141]. Legal and Compliance Issues - Legal claims were filed against the PRC Subsidiaries, with a principal amount of defaulted bank loans totaling RMB3,400,000,000 as of December 31, 2023[78]. - The overdue amount for defaulted bank loans by borrowers related to Jinzhou Jiachi and Guangzhou Rongzhi is RMB 7,269,900,000[113]. - The company has engaged PRC legal counsel to advise on ongoing litigation claims[124][126]. Environmental, Social, and Governance (ESG) Initiatives - The Group is committed to sustainable development and has implemented emissions reduction measures, resulting in no exhaust and effluent generated during daily operations in the reporting year[183]. - The Group's environmental initiatives include waste treatment and carbon emission management, energy and water consumption monitoring, and environmental implication management[178]. - The Group promotes environmental awareness among employees by encouraging the use of new energy vehicles and public transportation, as well as teleconferencing to reduce travel[194]. - The Group actively sorted waste into five categories for disposal and recycling according to government regulations[190]. Employee and Stakeholder Engagement - Employee training and development opportunities were highlighted as a key concern among employees during performance assessments[181]. - The Group aims to ensure sustainable profitability and shareholder returns, as indicated by feedback from shareholders and investors[181]. - Stakeholder participation activities were conducted to understand expectations and concerns regarding business development strategy and risk management[179].

Financial Performance - Total revenue for the year ended December 31, 2023, was HKD 197,990,000, an increase of 24.3% compared to HKD 159,227,000 in 2022[2] - Customer contracts revenue rose to HKD 170,491,000 from HKD 119,759,000, reflecting a growth of 42.4%[2] - The company reported a net loss before tax of HKD 1,366,609,000, a slight improvement from a loss of HKD 1,606,117,000 in the previous year[4] - The annual loss attributable to the owners of the company was HKD 1,167,985,000, compared to HKD 1,454,890,000 in 2022, indicating a reduction of 19.7%[4] - Total comprehensive loss for the year was HKD 1,189,367,000, down from HKD 1,490,622,000 in 2022, representing a decrease of 20.2%[4] - The company reported a basic loss per share of HKD 22.25, compared to HKD 27.71 in the previous year, showing an improvement in loss per share[4] - The company recorded a pre-tax loss of approximately HKD 1,366.6 million for the year, a reduction of 14.9% from the pre-tax loss of HKD 1,606.1 million for the previous year[52] - The net loss attributable to the company's owners decreased from approximately HKD 1,454.9 million for the year ended December 31, 2022, to approximately HKD 1,168.0 million for the current year[53] Assets and Liabilities - Non-current assets decreased to HKD 2,343,988,000 from HKD 3,261,517,000, a decline of 28.2%[5] - Current liabilities increased to HKD 3,351,553,000 from HKD 3,005,117,000, an increase of 11.5%[5] - The company's net asset value per share decreased to HKD (966,799,000) from HKD 222,568,000, indicating a significant decline[6] - The group reported a net loss of HKD 1,169,257,000 for the year ending December 31, 2023, with current liabilities amounting to HKD 3,138,744,000 and total liabilities of HKD 966,799,000[17] - The group’s consolidated net liabilities were approximately HKD 966.8 million as of December 31, 2023, a decrease of about HKD 1,189.4 million from the previous year[75] - The company’s net current liabilities amounted to HKD 3,138.7 million, including overdue bank borrowings of HKD 1,479.5 million[50] - The total debt financing as of December 31, 2023, was approximately HKD 1,673.5 million, down from HKD 1,741.5 million in the previous year[77] Revenue Streams - Sales of medical equipment and products generated HKD 28,482,000 in 2023, up from HKD 9,864,000 in 2022, representing a 188.5% increase[21] - The revenue from flooring materials increased to HKD 105,603,000 in 2023 from HKD 83,383,000 in 2022, reflecting a growth of 26.7%[21] - The total revenue from the shopping center business for the year was approximately HKD 60.5 million, primarily from rental income and property management services[61] - The revenue from the flooring materials trade business increased by 26.6% to approximately HKD 105.6 million compared to the previous year[66] - The revenue from medical equipment trade and other business increased significantly by 187.9% to approximately HKD 28.5 million, with a reported loss of approximately HKD 4.7 million[67] Financial Reporting and Standards - The group has adopted new and revised Hong Kong Financial Reporting Standards effective from January 1, 2023, which include HKAS 1 and HKFRS 17 related to insurance contracts[11] - The amendments clarify the distinction between changes in accounting estimates and changes in accounting policies, with no significant impact on the group's financial statements[12] - The group has changed its accounting policy regarding long service payments, effective from the first date of employee service, using the straight-line method[14] - The cumulative impact of the adjustments made to the long service payment accounting policy is not significant as of December 31, 2022[14] - The group expects that the application of all new and revised Hong Kong Financial Reporting Standards will not have a significant impact on the consolidated financial statements[15] - The consolidated financial statements are prepared in accordance with the Hong Kong Financial Reporting Standards and relevant disclosure requirements[16] Going Concern and Financial Stability - The group has significant uncertainties regarding its ability to continue as a going concern due to overdue bank loans totaling RMB 7,269,900,000[17] - The group is considering seeking additional financial resources to meet its maturing liabilities and obligations[19] - The board is confident in the group's ability to meet its financial obligations in the foreseeable future based on cash flow forecasts and available non-current assets[18] - The company faces significant uncertainty regarding its ability to continue as a going concern due to ongoing legal claims and financial guarantees[50] Legal and Compliance Issues - The company is currently facing legal claims related to the bank loans, but the specific amount it may be liable for has not been determined by the court[48] - The group is facing a lawsuit from a bank in China regarding guarantees related to loans taken by its subsidiaries[97] - The company's subsidiaries, Jinzhou Jiachi and Guangzhou Rongzhi, have had approximately RMB 7.2 million frozen due to a civil ruling from a Chinese court related to a lawsuit against them[99] - Guangzhou Rongzhi has been implicated in five lawsuits regarding guarantees provided for bank loans to third-party companies[99] - The company has been ordered to pay approximately RMB 1 million plus interest to a former supplier due to a lawsuit[102] Corporate Governance - The company has maintained compliance with corporate governance standards as of December 31, 2023, with all applicable rules adhered to[106] - The board of directors has confirmed compliance with the standard code for securities trading as of December 31, 2023[109] - The audit committee consists of three independent non-executive directors, with Mr. Liang Ting-Yu elected as the chairman[110] - The consolidated financial statements for the year ended December 31, 2023, have been reviewed and accepted by the audit committee, confirming compliance with applicable accounting standards[112] Future Plans and Strategies - The company aims to optimize its asset and capital structure while exploring new business opportunities to ensure sustainable growth[95] - The group plans to establish an e-commerce operation in the Jinzhou shopping center, integrating online and offline services to meet consumer needs[92] - The Guangzhou shopping center will focus on enhancing the children's clothing area and optimizing warehouse space to improve rental rates[90] - The flooring materials trading business is expected to develop steadily, primarily in the North American market[95]

2023 二零二三年 INTERIM REPORT 中期報告 CONTENTS 目錄 | | Pages | | 頁次 | | --- | --- | --- | --- | | Corporate Information | 2 | 公司資料 | 2 | | Management Discussion and Analysis | 5 | 管理層討論及分析 | 5 | | Corporate Governance and Other Information | 19 | 企業管治及其他資料 | 19 | | Condensed Consolidated Statement of | | 簡明綜合損益及其他全面收益表 | | | Profit or Loss and Other Comprehensive Income | 25 | | 25 | | Condensed Consolidated Statement of | | 簡明綜合財務狀況表 | | | Financial Position | 27 | | 27 | | Condensed Consolidated Statement of | | ...

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 部或任何部分內容所產生或因依賴該等內容而引致之任何損失承擔任何責任。 （於百慕達註冊成立之有限公司） （股份代號：71 8） 截 至 二 零 二 三 年 六 月 三 十 日 止 六 個 月 中 期 業 績 公 告 太和控股有限公司（「本公司」）董事局（「董事局」或「董事」）宣佈本公司及其附屬 公司（統稱為「本集團」）截至二零二三年六月三十日止六個月（「報告期間」）之未 經審核簡明綜合中期業績如下： 簡明綜合損益及其他全面收益表 截至二零二三年六月三十日止六個月 截至六月三十日止六個月 二零二三年 二零二二年 附註 千港元 千港元 （未經審核） （未經審核） 收益 3 客戶合約 82,237 74,090 租賃 17,322 20,675 淨投資收益 5 – 98 ...

2022 Annual Report 二零二二年 年報 CONTENTS 目錄 | | Pages | | 頁次 | | --- | --- | --- | --- | | Corporate Information | 2 | 公司資料 | 2 | | Chairman and Chief Executive Officer's Statement | 5 | 主席及行政總裁致詞 | 5 | | Management Discussion and Analysis | 6 | 管理層討論及分析 | 6 | | Biographical Details of Directors | 22 | 董事履歷詳情 | 22 | | Environmental, Social and Governance Report | 28 | 環境、社會及管治報告 | 28 | | Corporate Governance Report | 47 | 企業管治報告 | 47 | | Report of the Directors | 68 | 董事局報告 | 68 | | Independent Auditor's Report ...