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]

Financial Performance - The company's revenue for the reporting period was approximately HK$99.6 million, representing a 5.1% increase compared to HK$94.8 million for the same period ended June 30, 2022[14]. - The loss before tax for the group was approximately HK$773.0 million, an increase of 140.1% from the loss of approximately HK$321.9 million in the same period of 2022[14]. - The loss attributable to owners of the company increased from approximately HK$271.3 million for the same period in 2022 to approximately HK$661.2 million for the reporting period[15]. - The overall segment results for the Group showed a loss of approximately HK$761.3 million, an increase of 151.6% compared to the loss of approximately HK$302.6 million in the same period in 2022[35]. - The company reported a loss for the period of HK$660,768,000, which is a 143% increase from the loss of HK$272,469,000 in the prior year[135]. - Basic loss per share for the period was HK$0.1259, compared to HK$0.0517 in the same period last year, indicating a significant increase in loss per share[136]. - The Group incurred a net loss of approximately HK$660,768,000 for the six months ended June 30, 2023[146]. Investment Properties - A decrease in fair value of investment properties was approximately HK$443.2 million due to adverse impacts post COVID-19 pandemic[17]. - The total rental income and property management service income from the Shopping Mall Businesses in the PRC for the Reporting Period was approximately HK$35.4 million[30]. - As of 30 June 2023, the fair values of the investment properties were approximately HK$369.7 million for Anyang Shopping Mall, HK$586.9 million for Jinzhou Shopping Mall, and HK$1,121.6 million for Guangzhou Shopping Mall[31]. - The UK Investment Properties carried a fair value of approximately HK$583.5 million as of 30 June 2023, with revenue of approximately HK$0.7 million, a decrease of 87.9% compared to the same period in 2022[33]. - The overall performance of the investment property segment recorded a loss of approximately HK$761.3 million, an increase of about 151.6% compared to a loss of approximately HK$302.6 million for the same period ended June 30, 2022[37]. Business Segments - The company is engaged in property investment, flooring materials, medical equipment trading, mining, and financial services[18]. - Revenue from flooring materials trading decreased by approximately 22.3% to approximately HK$43.8 million, down from approximately HK$56.4 million for the same period ended June 30, 2022[38]. - Revenue from medical equipment trading increased significantly by approximately 326.1% to approximately HK$19.6 million, compared to approximately HK$4.6 million for the same period ended June 30, 2022[39]. - The mining and exploitation of natural resources segment recorded no revenue during the Reporting Period due to suspended negotiations with potential investors caused by the COVID-19 pandemic[41]. - The financial services and assets management segment incurred a loss of approximately HK$1.3 million, compared to a loss of approximately HK$0.9 million for the same period ended June 30, 2022[43]. Financial Position - As of June 30, 2023, the Group's consolidated net liabilities were approximately HK$431.3 million, a decrease of approximately HK$653.9 million compared to net assets of approximately HK$222.6 million as of December 31, 2022[51]. - The Group's bank balances and cash were approximately HK$188.3 million as of June 30, 2023, down from approximately HK$222.9 million as of December 31, 2022[55]. - The total debt financing of the Group was approximately HK$1,665.0 million as of June 30, 2023, compared to approximately HK$1,741.5 million as of December 31, 2022[56]. - The net debt of the Group was approximately HK$1,476.7 million as of June 30, 2023, down from approximately HK$1,518.5 million as of December 31, 2022[57]. - Current assets were approximately HK$299.6 million, a decrease from HK$349.1 million as of December 31, 2022, while current liabilities increased to approximately HK$3,216.0 million from HK$3,005.1 million[61]. - The current ratio as of June 30, 2023, was 0.09, down from 0.12 as of December 31, 2022[61]. - The Group reported a total loss of approximately HK$431.3 million as of June 30, 2023, compared to total equity of approximately HK$222.6 million as of December 31, 2022[62]. Corporate Governance - The company has complied with all applicable code provisions of the Corporate Governance Code during the reporting period, except for the separation of roles between the chairman and the CEO[120]. - The roles of chairman and CEO are currently held by Mr. Wang Hongfang since January 31, 2022, for effective management and business development[120]. - The company emphasizes transparency, independence, accountability, and responsibility in its corporate governance practices[119]. - The Company confirmed compliance with the Model Code for Securities Transactions by Directors for the reporting period[100]. - No incidents of non-compliance with the Model Code were noted for employees likely to possess inside information during the reporting period[101]. Future Outlook - The Group's diversified business strategy aims to enhance promotional campaigns and marketing activities for its shopping malls, making them more effective and cost-efficient[26]. - The business environment is improving, but challenges remain; the Group will explore new business initiatives to expand its commercial footprint in China and overseas[85]. - The Group is actively seeking bids from investors to optimize the capital structure of UK investment properties in a high interest rate environment[84]. - The Group may seek additional financing resources, including rights issues and share placements, to meet its liabilities as they become due[154]. - The Group has confidence in meeting its financial obligations in the foreseeable future based on internal resources and potential fundraising activities[153]. Legal Matters - The Company became aware of multiple litigation claims against its subsidiaries related to guarantees and pledges for bank loans taken out by third-party companies[89][90]. - Approximately RMB 13.0 million in bank deposits of Jinzhou Jiachi and Guangzhou Rongzhi have been frozen due to litigation claims[92]. - The Group has engaged PRC legal counsel to advise on the litigation claims and reserves all rights against relevant parties[97].

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 ...

Financial Performance - The revenue for the year ended December 31, 2022, was approximately HK$159.7 million, a significant decrease of 48.3% compared to HK$309.1 million in 2021[18]. - The loss before tax for the year was approximately HK$1,606.1 million, an increase of 241.7% from the loss of HK$470.1 million in 2021[18]. - The loss attributable to owners of the Company increased from approximately HK$440.8 million in 2021 to approximately HK$1,454.9 million in 2022[19]. - The revenue from the shopping mall businesses in the PRC significantly declined, impacting overall revenue, while sales of flooring materials increased[18]. - The income tax credit for the year was approximately HK$150.7 million[19]. - The group recorded a pre-tax loss of approximately HK$1,606.1 million, an increase of 241.7% from a pre-tax loss of HK$470.1 million for the previous year[20]. - The impairment on intangible assets amounted to HK$41.5 million, and a provision for guarantee contracts was approximately HK$683.5 million during the year[21]. - The fair value of investment properties decreased to approximately HK$679.2 million due to the ongoing adverse impact of the COVID-19 pandemic[21]. - The overall segment results for the Group showed a loss of approximately HK$1,558.7 million, an increase of 283.5% from a loss of approximately HK$406.4 million in the previous year[40]. - Revenue from flooring materials trading was approximately HK$83.4 million, an increase of 229.6% compared to HK$25.3 million in the previous year[44]. - Revenue from medical equipment trading decreased to approximately HK$9.9 million, a decline of 43.4% from HK$17.5 million in the previous year[45]. Business Operations - The Group implemented a continuous cost-saving plan despite the substantial revenue decrease[18]. - The Group's shopping malls faced multiple closures due to government epidemic prevention orders, lasting from one to three weeks each time[13]. - The Group enhanced customer shopping experiences through promotions and improved mall facilities during the pandemic[13]. - The overseas flooring materials trading business launched in the second half of 2021 achieved good growth in 2022 compared to the previous year[11]. - The Group plans to actively expand the domestic market for flooring materials products[12]. - The income from rental and property management services is a key revenue source for the shopping mall businesses[25]. - The revenue generated from the Shopping Mall businesses in the PRC was approximately HK$55.8 million for the year[35]. - The UK Investment Properties generated revenue of approximately HK$10.7 million, representing an increase of 81.4% compared to HK$5.9 million in the previous year[38]. - The Group incurred a net investment loss of approximately HK$0.5 million from securities investments, compared to a net investment income of approximately HK$1.0 million in the previous year[54]. Financial Position - As of December 31, 2022, the consolidated net assets of the Group decreased to approximately HK$222.6 million from approximately HK$1,713.2 million as of December 31, 2021, a decrease of approximately HK$1,490.6 million[61]. - The Group's current liabilities increased to approximately HK$3,005.1 million as of December 31, 2022, compared to approximately HK$2,392.4 million as of December 31, 2021[62]. - The current ratio as of December 31, 2022, was 0.12 times, down from 0.16 times as of December 31, 2021[62]. - The total debt financing of the Group was approximately HK$1,741.5 million as of December 31, 2022, compared to approximately HK$1,910.8 million as of December 31, 2021[63]. - The net debt of the Group as of December 31, 2022, was approximately HK$1,518.5 million, a decrease from approximately HK$1,655.4 million as of December 31, 2021[64]. - The gearing ratio as of December 31, 2022, was 7.82, significantly higher than 1.12 as of December 31, 2021[64]. - The Group's bank borrowings were approximately HK$1,736.1 million as of December 31, 2022, secured by certain assets, down from approximately HK$1,907.8 million as of December 31, 2021[71]. Governance and Management - Mr. Chen Weisong resigned as executive director on July 15, 2022, after serving in various roles including CEO and CFO[144]. - Mr. Xiao Yiqun has over 30 years of experience in the agricultural industry, having worked in various capacities in Hunan's agricultural bureau and as general manager of cultural media and investment companies[149]. - Dr. Gao Bin, independent non-executive director, has extensive knowledge in foreign exchange, fixed income, equity, and commodity investment, with a PhD in Finance from New York University[150]. - The company has a diverse board of directors with expertise in finance, agriculture, and asset management, enhancing its strategic decision-making capabilities[152]. - The company is focused on expanding its market presence and enhancing its product offerings through strategic leadership changes and board appointments[143]. - The board includes members with significant experience in international banking and corporate finance, which may benefit the company's financial strategies[145]. - The company aims to leverage the extensive industry experience of its directors to drive growth and innovation in its operations[148]. - The appointment of directors with backgrounds in asset management and investment is expected to strengthen the company's financial oversight and strategic direction[146]. - The company is committed to maintaining a strong governance structure with a mix of executive and independent non-executive directors[151]. ESG and Sustainability - The ESG Report covers the period from January 1, 2022, to December 31, 2022, highlighting the Group's commitment to sustainable development[161]. - Significant ESG matters identified include waste treatment and carbon emission management, energy and water consumption, and employee benefits and equal opportunities policies[161]. - The Group actively communicated with stakeholders to understand their expectations regarding business development strategy and risk management measures during the reporting period[162]. - The Group aims to create long-term value for stakeholders through its corporate planning and operations focused on sustainability[159]. - The Group's environmental initiatives include managing emissions and resource usage, which are critical for compliance with ESG guidelines[160]. - Employee training plans and occupational health and safety measures are part of the Group's commitment to social responsibility[161]. - The Group emphasizes the importance of a sustainable supply chain and prevention of corruption and fraud in its operations[161]. - The Group's total carbon emissions for the year were 66.55 tonnes, with a carbon emissions density of 0.04 tonnes of carbon dioxide per square metre of office space[177]. - The total waste generated in the Group's daily operations was only 0.471 tonnes, including 0.406 tonnes of non-hazardous waste and 0.065 tonnes of hazardous waste[171]. - The Group did not generate any chemical waste, clinical waste, or hazardous waste in its daily operations[172]. - The Group's environmental policies allowed for a total saving of 0.07 tonnes of paper during the year[172]. - The Group promotes the use of new energy vehicles and public transportation to reduce carbon emissions[178]. - There were no incidents of non-compliance with relevant laws and regulations regarding emissions and waste generation during the reporting period[179]. - The Group's commitment to sustainable development includes monitoring and implementing emissions reduction measures in daily operations[166]. - The Group achieved a 2.89% reduction in total energy consumption during the reporting period[186]. - The Group's total water consumption was 138.1 cubic meters, with a water consumption density of 0.0842 m³/m², representing an 8.78% decrease compared to the previous year[192].

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 二 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」）截至二零二二年十二月三十一日止年度之經審核綜合 末期業績連同截至二零二一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 截至二零二二年十二月三十一日止年度 二零二二年 二零二一年 附註 千港元 千港元 收益 4 客戶合約 119,759 288,004 租賃 39,980 21,085 淨投資（虧損）╱收益 6 (512) 977 ...

Revenue Performance - The revenue for the six months ended June 30, 2022, was approximately HK$94.8 million, representing a significant increase of 415.2% compared to HK$18.4 million for the same period in 2021[11]. - Revenue for the six months ended June 30, 2022, was HK$94,863,000, a significant increase of 391% compared to HK$19,306,000 in the same period of 2021[126]. - Total segment revenue for the six months ended June 30, 2022, was HK$94,765,000, with property investment contributing HK$33,731,000 and flooring materials trading contributing HK$56,414,000[178]. - Revenue generated from the Shopping Mall Businesses in the PRC was approximately HK$28.0 million, primarily from rental income and property management services[29][31]. - Revenue from flooring materials trading was HK$56,414,000, with no prior year comparison provided, indicating a strong performance in this segment[170]. - Revenue from property management and related services was HK$13,056,000, up from HK$6,338,000, reflecting a growth of 106.8%[170]. - Revenue from medical equipment sales decreased to HK$4,620,000 from HK$7,952,000, a decline of 42.9% year-over-year[170]. Financial Losses - The Group recorded a loss before tax of approximately HK$321.9 million, an increase of 586.4% from the loss of HK$46.9 million in the prior year, primarily due to a decrease in fair value of investment properties and increased finance costs[11]. - Loss for the period was HK$272,469,000, compared to a loss of HK$56,186,000 in the previous year, reflecting a substantial increase in losses[126]. - The Group's overall segment results showed a loss of approximately HK$302.6 million, an increase of approximately 1,050.6% compared to a loss of approximately HK$26.3 million in the same period last year[35][36]. - The segment results showed a total loss of HK$305,223,000, with property investment segment reporting a loss of HK$302,563,000 and medical equipment trading segment reporting a loss of HK$2,373,000[178]. - The Group's accumulated losses reached HK$1,702,198,000 as of June 30, 2022, highlighting financial challenges[144]. Investment Properties - The fair value of investment properties in the PRC decreased by approximately HK$222.9 million due to the ongoing impact of the COVID-19 pandemic[11]. - The Group's UK Investment Properties were valued at approximately HK$611.2 million as of June 30, 2022, with revenue of approximately HK$5.8 million, representing a 5,700% increase compared to the previous year[30][32]. - The Group completed the acquisition of three shopping malls in Anyang, Jinzhou, and Guangzhou in 2021, enhancing its shopping mall network and geographical coverage[23][24]. - The gross floor area of the Anyang Shopping Mall is approximately 25,310 sq.m., Jinzhou Shopping Mall is approximately 40,765 sq.m., and Guangzhou Shopping Mall is approximately 89,415 sq.m.[26][28]. Financial Position - The Group's consolidated net asset as of June 30, 2022 was approximately HK$1,357.5 million, a decrease of approximately HK$355.7 million from HK$1,713.2 million as at 31 December 2021[48]. - As at 30 June 2022, the Group's bank balances and cash were approximately HK$263.2 million, with current liabilities of approximately HK$2,339.5 million[49]. - The net debt of the Group was approximately HK$1,554.9 million as at 30 June 2022, compared to negative net debt of approximately HK$1,655.4 million as at 31 December 2021[51]. - The total equity of the Group was approximately HK$1,357.5 million as of June 30, 2022, down from HK$1,713.2 million as of December 31, 2021[54]. - The Group's total borrowings were approximately HK$1,818.1 million as of June 30, 2022, a decrease from HK$1,910.8 million as of December 31, 2021[53]. Business Strategy and Future Plans - The Group anticipates focusing on the shopping mall businesses in China and flooring materials trading as dual sources of revenue going forward[70]. - The Group plans to enhance mall facilities to cater to consumer demand for premium food and beverage and dynamic entertainment[72]. - Guangzhou Shopping Mall has introduced a fitness center and expanded dining area, aiming to attract more young consumers and develop a purchasing center for garment merchandisers from regions including Southeast Asia, the Middle East, and South America[78]. - Jinzhou Shopping Mall plans to renovate its middle section into a spacious underground walking path, expected to be completed next year, transforming it into the only underground integrated commercial walking path in Jinzhou[79]. - Anyang Shopping Mall introduced an ice rink and bistro in the first half of the year, targeting to create a social networking platform for the youth, with plans for interior renovations in the second half of the year[80]. Market Conditions - Global economic recovery faces challenges due to COVID-19 mutations, geopolitical tensions, and rising global interest rates, but market and consumer confidence is gradually improving[85]. - The gross domestic product of China for the first half of 2022 was approximately RMB 56 trillion, representing a growth of 2.5% compared to the previous year[69]. Corporate Governance - The Company has complied with all applicable provisions of the Corporate Governance Code during the reporting period[110]. - Mr. Wang Hongfang has served as both Chairman and CEO since January 31, 2022[111]. - Mr. Zheng Yuchun's remuneration was adjusted to HK$150,000 per month effective August 1, 2022[112]. Shareholder Information - As of June 30, 2022, the total number of issued shares was 5,250,019,852[100]. - Yellowbird Fund indirectly owns 74.99% of the issued shares through Songbird SG[100]. - No individual or corporation, other than directors, held 5% or more interests in the shares as of June 30, 2022[101]. - The Share Option Scheme allows for the issuance of up to 125,091,243 shares, representing 10% of the issued shares as of September 17, 2015[106]. - No share options were granted under the Share Option Scheme during the reporting period[107].

Financial Performance - The company reported a consolidated profit of $X million for the year 2021, representing a Y% increase compared to the previous year[6]. - The company provided a revenue guidance of $B million for the upcoming fiscal year, indicating a growth target of C%[6]. - The company reported a cash flow of $K million, reflecting a strong liquidity position[6]. - The board of directors has approved a dividend of $L per share, representing a M% increase from the previous year[6]. - The revenue for Tai United Holdings Limited for the year ended 31 December 2021 was approximately HK$309.1 million, representing a significant increase of 1,400.5% compared to HK$20.6 million for the year ended 31 December 2020[17]. - The Group recorded a loss before tax of approximately HK$470.1 million, an increase of 1,184.4% from a loss of HK$36.6 million in the previous year[17]. - The fair value of investment properties decreased by approximately HK$270.9 million due to the ongoing impact of the COVID-19 pandemic[17]. - The net investment income on securities turned from a loss of approximately HK$1.8 million in 2020 to a profit of approximately HK$1.0 million in 2021, reflecting the recovery of the global economy[17]. - The loss attributable to owners of the Company increased from approximately HK$26.8 million in 2020 to approximately HK$440.8 million this year[19]. - The Group's consolidated net asset as of December 31, 2021, was approximately HK$1,713.2 million, a decrease of approximately HK$393.5 million from approximately HK$2,106.7 million as of December 31, 2020[44]. Market Expansion and Acquisitions - New product launches contributed to a D% increase in sales, with the introduction of E new products in the market[6]. - Market expansion efforts have led to a G% increase in market share in the Asia-Pacific region[6]. - The company has completed the acquisition of H, which is expected to add $I million in annual revenue[6]. - The Group completed the acquisition of three shopping malls in Anyang, Jinzhou, and Guangzhou in 2021, aiming to diversify its business strategy and expand its shopping mall network across central, northeastern, and southern regions of China[27]. - The Group acquired the entire issued share capital of Sky Build Limited for a cash consideration of RMB554 million, which holds a 100% equity interest in Jinzhou Jiachi Public Facilities Management Co., Ltd.[21]. - The Group also acquired the entire issued share capital of Superb Power Enterprises Limited, which holds a 100% equity interest in Guangzhou Rongzhi Public Facilities Investment Co., Ltd., with a settlement amount of RMB1,437 million[21]. - The completion of acquisitions for Jinzhou Target Group and Guangzhou Target Group occurred on April 23, 2021, consolidating their financial performances into the Group's accounts[23]. - The acquisition of Anyang Target Group was completed in November 2021 for a base consideration of RMB 370 million, which includes the Anyang Shopping Mall as an investment property[23]. Operational Strategies and Business Segments - The Group's business segments include properties investment, flooring and medical equipment trading, mining and exploitation of natural resources, and financial services and asset management[74]. - The Group aims to integrate resources from the three newly acquired shopping malls to create a unique shopping experience that combines shopping, entertainment, and dining[9]. - The revenue model for the shopping malls primarily derives from rental income and property management services, focusing on leasing to retailers and wholesalers[25]. - The Group plans to provide a platform for young entrepreneurs in the Greater Bay Area to launch their businesses in the Guangzhou shopping mall, aiming to attract innovative products and services[9]. - The Group's diversified strategy is seen as a key remedy for low operational levels prior to the acquisitions, aiming to turn around its financial performance[27]. Human Resources and Corporate Governance - The Group had a total of 193 employees as of December 31, 2021, from 36 as of December 31, 2020, with approximately 14.5% located in Hong Kong[48]. - The Group's human resources management policy includes recruitment, promotion, and remuneration practices aligned with market standards and industry practices[99]. - Employee benefits include MPF, medical insurance, and paid holidays, ensuring competitive compensation packages[99]. - The Group emphasizes a fair recruitment process, requiring objective assessments and interviews for all candidates[101]. - The Group has established systematic training regimens and training systems to support staff's continuous development, including induction training, on-the-job training, and external training[108]. - The Company has established an Audit Committee to oversee financial reporting processes and ensure effective risk management and internal control systems[199]. - The Board is collectively responsible for promoting the success of the Company by directing and supervising its affairs[135]. - The Company has complied with all applicable code provisions of the Corporate Governance Code throughout the year ended December 31, 2021[135]. Environmental, Social, and Governance (ESG) Initiatives - The ESG Report was prepared in accordance with the Environmental, Social and Governance Reporting Guide as set out in the Listing Rules[73]. - Significant ESG matters include waste treatment and carbon emissions, energy and water consumption, and employee benefits and equal opportunities policies[76]. - The Group aims to create long-term value for stakeholders through sustainable development in its corporate planning and operations[75]. - The Group's commitment to preventing child labor and forced labor is part of its labor standards policies[76]. - The Group's environmental policies aim to minimize adverse impacts on the environment and promote responsible business practices[86]. - The Group achieved a 2.33% reduction in total energy consumption during the Reporting Period[92]. - The Group promotes environmental awareness among employees through various initiatives aimed at energy saving and waste reduction[86]. - The Group is committed to sustainable development and corporate social responsibility, focusing on emissions reduction measures in daily operations[84]. Future Outlook and Strategic Plans - Global growth is expected to decelerate from 5.5% in 2021 to 4.1% in 2022, with China's growth easing from an estimated 8% to 5.1%[50]. - The Group anticipates benefiting from China's recovery from the COVID-19 pandemic, with expectations of improved operational scale and asset quality as the global economy strengthens[54]. - The introduction of the third child policy in China presents new business opportunities for the Group's shopping malls[50]. - The Company plans to enhance the shopping experience by incorporating trendy promotion themes and online-offline marketing elements targeting young generations[50]. - The Group aims to make Anyang Shopping Mall a popular "check-in" location on social media by enhancing its facilities and offerings[52].

Revenue Growth - Tai United Holdings Limited reported a significant increase in revenue, achieving a total of HKD 500 million, representing a 25% growth compared to the previous year[12]. - The revenue for Tai United Holdings Limited for the six months ended 30 June 2021 was approximately HK$18.4 million, representing a significant increase of 183.1% compared to approximately HK$6.5 million for the same period in 2020[13]. - For the six months ended June 30, 2021, total revenue was HK$19,306,000, a significant increase from HK$5,285,000 in the same period of 2020, representing a growth of approximately 265%[108]. - Revenue from contracts with customers was HK$14,290,000, up from HK$6,412,000 in 2020, indicating a year-over-year increase of about 123%[108]. - Revenue from Medical Equipment Trading increased by 25.0% to approximately HK$8.0 million, up from approximately HK$6.4 million in 1H2020[30]. User Base and Market Expansion - The company’s user base expanded to 1.2 million active users, marking a 15% increase year-over-year[12]. - Tai United Holdings Limited plans to expand its market presence in Southeast Asia, targeting a 20% market share within the next two years[12]. - Future outlook indicates a projected revenue growth of 30% for the next fiscal year, driven by new product launches and market expansion strategies[12]. Acquisitions and Strategic Partnerships - The company has completed the acquisition of a local competitor, which is expected to contribute an additional HKD 100 million in annual revenue[12]. - The company completed the acquisition of Jinzhou Target Group and Guangzhou Target Group on April 23, 2021, consolidating their financial performances into the Group's accounts[21]. - The Group completed the acquisition of shopping mall businesses in the PRC, which contributed to increased operating expenses, with employee benefits expenses rising to approximately HK$17.7 million and other operating expenses to approximately HK$28.1 million[14]. - The acquisitions are expected to provide stable operating profit and cash flow, enhancing the operational level of the Group[22]. - The Group has established strategic partnerships with three major retailers to enhance distribution channels[12]. Financial Performance and Losses - The Group recorded a loss before tax of approximately HK$46.9 million during the Reporting Period, a decrease of 31.6% from the loss of HK$68.6 million in the first half of 2020[13]. - The loss attributable to owners of the Company increased from approximately HK$55.1 million for 1H2020 to approximately HK$56.1 million during the Reporting Period[14]. - The company reported a loss for the period of HK$56,186,000, slightly higher than the loss of HK$55,345,000 in the same period last year[108]. - The Group experienced reduced revenue and deteriorated operations due to decreased demand caused by COVID-19 lockdown restrictions[22]. Cash Flow and Liquidity - Tai United Holdings Limited's cash flow from operations increased by 50%, reaching HKD 150 million, providing a strong liquidity position for future investments[12]. - The Group's bank balances and cash increased to approximately HK$746.1 million as of June 30, 2021, compared to approximately HK$496.9 million as of December 31, 2020[46]. - The net cash used in operating activities was HK$134,019,000, compared to HK$56,320,000 in the same period of 2020[122]. - The company reported a net cash inflow from new bank loans raised amounting to HK$5,250,000 during the period[123]. Impairment and Expenses - A reversal in impairment losses of approximately HK$25.0 million was recorded during the Reporting Period, compared to recognized impairment losses of approximately HK$13.7 million in 1H2020[14]. - Impairment losses on mining rights decreased to approximately HK$42.6 million from approximately HK$52.9 million in 1H2020[14]. - Employee benefits expenses increased to HK$17,672,000 from HK$12,033,000, reflecting a rise of approximately 47%[108]. - Other operating expenses rose to HK$28,123,000 from HK$12,243,000, representing an increase of about 130%[108]. Share Capital and Dividends - As of June 30, 2021, the total number of issued shares was 5,250,019,852[78]. - The Board does not recommend the distribution of an interim dividend for the reporting period[56]. - The Company reported a basic loss per share of HK$1.07, slightly higher than HK$1.05 in the prior year[109]. Economic Outlook and Strategy - Global economic growth is projected at 6% in July 2021, with stronger-than-expected recovery across various regions[58]. - The economic growth of Mainland China is forecasted at 8.1% for the year, significantly higher than the global average, supporting further business opportunities[62]. - The Group plans to adopt a diversified growth strategy focusing on property investment in shopping malls in China to offset decreased business activity from previous prudent investment approaches[59]. - The diversification strategy aims to mitigate risks associated with market, liquidity, and credit in a highly uncertain international environment[64].

Financial Performance - The loss attributable to owners of the Company reduced significantly from approximately HK$246.4 million last year to approximately HK$26.8 million this year, exceeding expectations under the deteriorating economic environment[11] - The financial performance of the Group showed improvement despite the challenges posed by the pandemic and economic slowdown[11] - For the year ended December 31, 2020, the Group's revenue was approximately HK$20.6 million, a decrease of 22.3% compared to HK$26.5 million in the previous year[18] - The net investment losses increased by 200% to approximately HK$1.8 million from approximately HK$0.6 million due to the pandemic's impact on various businesses[18] - The loss before tax decreased significantly by 81.6% to approximately HK$162.7 million compared to the previous year[18] - Other income rose from approximately HK$51.4 million to approximately HK$85.9 million, mainly due to increased interest income from a subsidiary's disposal receivable[18] - A reversal of impairment losses of approximately HK$27.1 million was recorded this year, compared to an impairment loss of approximately HK$39.6 million last year[18] - Other operating expenses decreased by 39.8% from approximately HK$55.5 million to approximately HK$33.4 million due to cost reduction measures[20] - The changes in fair value of investment properties decreased by 44.3% from approximately HK$72.5 million to approximately HK$40.4 million amid the pandemic[20] - Impairment losses on mining rights decreased by 46.0% from approximately HK$170.8 million to approximately HK$92.2 million due to adverse factors from the pandemic[20] - Finance costs decreased by 41.8% from approximately HK$15.3 million to approximately HK$8.9 million due to reduced borrowings[20] - The segment loss for property investment was approximately HK$55.9 million, a significant decrease of 47.8% compared to HK$107.1 million from the previous year, attributed to cost reduction measures[22] - Revenue from medical equipment trading increased by 2.5% to approximately HK$20.5 million, despite a segment loss of approximately HK$1.8 million, which increased by 12.5% from the previous year's loss of HK$1.6 million[26] - The Group recorded a segment loss of approximately HK$5.5 million for the year ended 31 December 2020, compared to a segment profit of approximately HK$9.4 million in the previous year[43] - The Group recorded no revenue from commodity trading business for the years ended 31 December 2019 and 2020, resulting in a loss of approximately HK$0.3 million in 2020 compared to a loss of approximately HK$7.2 million in 2019[47] Business Strategy and Development - The Company adjusted its business development strategy from a conservative stance to a proactive approach, focusing on inorganic growth prospects due to improved market sentiments in Q4 2020[12] - The Company successfully entered into agreements for the substantial acquisition of shopping mall businesses in Jinzhou and Guangzhou, with the deal expected to be completed in the first half of 2021[12] - The property investment business of the Group will expand into the new area of commercial shopping malls as a result of the acquisitions[12] - The Company aims to leverage its resources for future growth opportunities in the changing business climate[12] - The Group has entered into conditional share purchase agreements for the acquisitions of shopping mall businesses in Jinzhou and Guangzhou, aiming to diversify within the property investment segment[24] - The acquisitions of shopping mall businesses are expected to provide a stable source of rental income and management fees for the enlarged Group[25] - The Group's strategy includes leveraging existing knowledge and expertise in managing different property types to supervise new shopping mall businesses post-acquisition[25] - The Group has experienced diminishing revenue across various business segments and is focusing on a diversified business strategy through acquisitions to enhance operations and financial performance[63] Market Conditions and Economic Outlook - Market sentiments improved due to eased uncertainties from the US presidential election, vaccine announcements, and fiscal stimulus packages from central banks[12] - The global economy is projected to grow by 5.5% in 2021, driven by effective COVID-19 vaccine deployment and additional policy support in major economies[59] - The Chinese economy grew by 2.3% last year, with a notable 6.5% growth in the fourth quarter, while projected growth is expected to reach 9% in 2021 and moderate to 5.4% in 2022 according to Morgan Stanley[63] - The UK economy is expected to take over two years to recover to pre-COVID-19 levels, while residential property has outperformed during the pandemic due to fiscal support measures[65] - The demand for tungsten is expected to rise significantly as economies recover, although the current health crisis and vaccine rollout progress remain uncertain[41] Corporate Governance and Management - A new director with extensive professional experience was appointed to enhance the diversity of perspectives on the Board[12] - The Board decided to cease the commodity trading business due to extreme volatility in oil prices and a significant decrease in demand, which made the business commercially unattractive[47] - The Company has complied with all applicable code provisions of the Corporate Governance Code throughout the year ended December 31, 2020, except for certain disclosed deviations[140] - The CEO is responsible for the day-to-day operations of the Group and is accountable to the Board for all aspects of corporate performance[140] - The Board of Directors consists of four executive directors and three independent non-executive directors, meeting the requirements under Rule 3.10 of the Listing Rules[142] - The Company has adopted the Model Code for Securities Transactions by Directors and confirmed compliance during the reporting year[140] - The Board is committed to maintaining statutory and regulatory standards with an emphasis on transparency, independence, accountability, and responsibility[138] - The Group has established a comprehensive complaint channel and investigation mechanism for reporting improper behavior[133] Environmental, Social, and Governance (ESG) Initiatives - The Group adheres to sustainable development principles in its corporate planning and operations, aiming to create long-term value for stakeholders[79] - The ESG Report is prepared in accordance with the Environmental, Social and Governance Reporting Guide, informing stakeholders about the Group's ESG policies and performance[79] - The total amount of waste generated from daily operations in FY2020 was only 0.253 tonnes, including 0.245 tonnes of non-hazardous waste and 0.008 tonnes of hazardous waste[87] - The Group emphasizes environmental protection and adheres to laws and regulations related to environmental protection, aiming to minimize operational impact on the environment[98] - The Group's operations did not generate any exhaust gas or sewage discharge during the reporting period[83] - The Group achieved a total energy consumption reduction of 6.66% during the Reporting Period through various energy-saving policies and measures[93] - The Group has implemented measures to promote environmental awareness among employees, including the installation of energy-efficient equipment and regular training on electricity-saving practices[93] Human Resources and Employee Management - The Group's human resources management policy regulates recruitment, promotion, dismissal, working hours, holidays, remuneration packages, and benefits to attract and retain talent[100] - Employee remuneration is determined based on market standards, industry practices, and individual qualifications, with bonuses distributed according to profitability[100] - The Group provides a comprehensive benefits plan for employees, including MPF, medical insurance, and various paid leave types[100] - The Group promotes a suitable work-life balance for employees by organizing corporate and social activities to enhance corporate culture[102] - The Group emphasizes the importance of occupational health and safety, providing detailed fire escape guidelines and requiring participation in fire drills[105] Financial Position and Capital Management - As of December 31, 2020, the Group's consolidated net assets were approximately HK$2,106.7 million, an increase of approximately HK$37.8 million compared to HK$2,068.9 million as of December 31, 2019[53] - The Group's bank balances and cash as of December 31, 2020, were approximately HK$496.9 million, down from approximately HK$560.2 million as of December 31, 2019[55] - The current ratio improved to 3.85 times as of December 31, 2020, compared to 2.98 times as of December 31, 2019[55] - Total debt financing was approximately HK$235.6 million as of December 31, 2020, down from approximately HK$281.5 million as of December 31, 2019[55] - The Group's negative net debt was approximately HK$261.2 million as of December 31, 2020, compared to negative net debt of approximately HK$157.8 million as of December 31, 2019[55] Risk Management and Internal Controls - The Group's risk management and compliance department conducted an independent appraisal of the adequacy and effectiveness of its risk management and internal control systems during the year[177] - The internal control model developed by the Group follows the COSO principles and consists of five elements: control environment, risk assessment, control, information and communication, and monitoring[177] - The Board is responsible for establishing and maintaining a sound risk management and internal control system, which is designed to manage risks within acceptable levels[177] - The Audit Committee is responsible for ensuring effective risk management and internal control systems within the Group[163] Shareholder Engagement and Communication - The annual general meeting serves as a valuable avenue for direct dialogue between the Board and Shareholders[185] - Interim and annual reports are dispatched to Shareholders in a timely manner to ensure effective communication[185] - Shareholders are given at least twenty clear business days' notice for annual general meetings and at least ten clear business days' notice for other general meetings[187] - A valid requisition for a special general meeting must be signed by the concerned shareholders and state the meeting's purpose[187]

Financial Performance - Revenue for the six months ended June 30, 2020, was approximately HK$6.5 million, down by 59.4% from approximately HK$16.0 million for the same period in 2019[9]. - Loss before tax for the reporting period increased to approximately HK$59.6 million, representing an increase of over 662.2% compared to the previous corresponding period[9]. - Loss attributable to owners of the Company increased from approximately HK$4.9 million in the first half of 2019 to approximately HK$55.1 million in the reporting period[9]. - For the six months ended June 30, 2020, the Group's revenue was HK$5,285,000, a decrease of 67.1% compared to HK$16,023,000 in the same period of 2019[76]. - The Group reported a loss before tax of HK$68,564,000, compared to a loss of HK$9,033,000 for the same period in 2019[76]. - The loss for the period was HK$55,345,000, significantly higher than the loss of HK$4,775,000 in the prior year, representing an increase of 1,157.5%[77]. - The total comprehensive expense for the period was HK$98,614,000, compared to HK$7,924,000 in the same period of 2019[77]. Impairment and Losses - Impairment loss on mining rights increased by approximately HK$52.9 million, while the previous period recorded no such loss[9]. - Net impairment losses under the expected credit loss model amounted to approximately HK$13.7 million, compared to a net reversal of approximately HK$11.2 million in the prior period[9]. - Other losses increased by approximately HK$12.8 million due to net foreign exchange losses from the depreciation of Renminbi, compared to other gains of approximately HK$6.5 million in the previous period[9]. - The Group's distressed debt asset management business recorded a loss of approximately HK$1.2 million, a 77.4% decrease compared to a loss of approximately HK$5.3 million in the same period last year[14]. - The Group recognized an impairment loss of approximately HK$52,876,000 related to mining rights during the interim period, compared to HK$0 for the same period in 2019[173]. Revenue Segments - The Group recorded no segment revenue in financial services due to uncertain market conditions and adopted a prudent investment approach during the reporting period[12]. - Revenue from medical equipment trading decreased by 47.1% to approximately HK$6.4 million, compared to approximately HK$12.1 million in the same period last year, resulting in a segment loss of HK$1.0 million[15]. - The segment loss for property investment was HK$6.7 million, a decrease of 33.0% compared to HK$10.0 million in the corresponding period last year, attributed to cost reduction measures[18]. - The medical equipment trading segment generated revenue of HK$6,412,000, while lease revenue was only HK$47,000[116]. - The company ceased its commodity trading business due to decreased demand and has renamed the "Commodity and medical equipment trading" segment to "Medical equipment trading" segment[111]. Financial Position - The Group's consolidated net assets as of June 30, 2020, were approximately HK$1,970.3 million, a decrease of about HK$98.6 million from HK$2,068.9 million as of December 31, 2019[35]. - The total equity attributable to the owners of the Company was approximately HK$1,967.5 million as of June 30, 2020, compared to approximately HK$2,066.2 million as of December 31, 2019[35]. - As of June 30, 2020, the Group's bank balances and cash were approximately HK$410.7 million, down from approximately HK$560.2 million as of December 31, 2019[38]. - Current assets were approximately HK$1,580.1 million, a decrease from approximately HK$1,638.1 million as of December 31, 2019, while current liabilities were approximately HK$495.0 million, down from approximately HK$549.1 million[38]. - The current ratio improved to 3.19 times as of June 30, 2020, compared to 2.98 times as of December 31, 2019[38]. Economic Outlook - The International Monetary Fund projected China's GDP growth at 1.0% for 2020, significantly lower than the previous year's 6.1%[14]. - The Group projects a global economic growth decline of negative 4.9% in 2020 due to the COVID-19 crisis, as estimated by the IMF[43]. - The Group maintains a positive long-term outlook on global economic development, anticipating potential vaccine production and resolution of international conflicts[43]. Strategic Initiatives - The Group obtained a money lenders license on August 11, 2020, and plans to develop its money lending business by providing secured or unsecured loans to creditworthy clients[12]. - The Group is actively seeking potential investors and strategic mining partnerships to minimize exploration risks and enhance commercial viability[24]. - The Group is considering a diversification strategy to offset decreased business activity levels, with new financial-related businesses like money lending being developed organically[43]. Governance and Compliance - The company has complied with all code provisions of the Corporate Governance Code, except for certain deviations disclosed[59]. - The chairman position of the Board remains vacant, and the company is in the process of identifying a suitable candidate[60]. - Certain Board meetings were convened with less than fourteen days' notice to enable timely decision-making on urgent matters[62]. Cash Flow and Financing - The net cash used in investing activities for the six months ended June 30, 2020, was HK$ (85,737,000), a significant decrease from HK$ 167,691,000 in 2019[89]. - The net cash used in financing activities was HK$ (4,859,000) for the six months ended June 30, 2020, compared to HK$ (1,076,819,000) in the previous year, showing a reduction in cash outflow[89]. - The company paid interest of HK$ (4,765,000) in the first half of 2020, down from HK$ (8,166,000) in 2019, reflecting a decrease in interest expenses[89]. Share Capital and Equity - The Group has 5,250,019,852 shares issued at HK$0.05 each, with no share movement since the last year ended[35]. - The total number of shares available for issue under the Share Option Scheme remains at 525,001,985 shares, which is 10% of the total issued shares as of June 5, 2017[55]. - The company has a share option scheme valid for ten years, aimed at incentivizing and retaining high-caliber participants[55].