7月11日，截至港股收盘，恒生指数上涨0.46%，报24139.57点。中国金融国际（00721.HK）收报0.06港 元/股，上涨13.21%，成交量1.89亿股，成交额1204.37万港元，振幅49.06%。 行业估值方面，其他金融行业市盈率（TTM）平均值为6.23倍，行业中值-0.2倍。中国金融国际市盈 率-14.99倍，行业排名第100位；其他招商局中国基金（00133.HK）为2.54倍、维信金科（02003.HK） 为3.54倍、香港信贷（01273.HK）为3.69倍、国银金租（01606.HK）为4.52倍、中关村科技租赁 （01601.HK）为4.69倍。 资料显示，中国金融国际投资有限公司及其附属公司之主要业务为投资控股及投资於香港及中国其他地 区成立及╱或经营业务之上市及非上市公司。 （以上内容为金融界基于公开消息，由程序或算法智能生成，不作为投资建议或交易依据。） 来源：金融界 最近一个月来，中国金融国际累计涨幅15.22%，今年来累计涨幅96.3%，跑赢恒生指数19.78%的涨幅。 财务数据显示，截至2024年12月31日，中国金融国际实现营业总收入355.69万元，同比增长242 ...

Group 1 - The 23rd China International Conference in Finance (CICF) was successfully held in Shenzhen, showcasing its growing influence in the global financial academic community [2] - The conference received 3,056 submissions, with 1,758 valid papers, and ultimately accepted 236 papers, highlighting the high academic standards and international impact of the event [2] - The conference registered 1,345 attendees, marking a new high for in-person participation in a non-virtual year [2] Group 2 - Professor Thomas J. Sargent, a Nobel laureate, delivered a keynote speech on optimal fiscal policy using short-term debt, sharing insights from his latest research [4][5] - The research addresses challenges in implementing optimal fiscal plans when initial government debt is high, proposing a modified timing protocol to ensure successful execution of Ramsey plans [5] - This study offers new perspectives for sustainable fiscal policy design, particularly relevant in the context of rising government debt in major economies [6] Group 3 - The conference agenda spanned three days, featuring 60 academic sub-sessions and 472 presentations covering various cutting-edge topics in finance, including AI in capital markets, ESG issues, and macro-financial dynamics [7] - The event emphasized the importance of academic exchange and international collaboration, with participation from leading scholars and institutions [9] - The Hong Kong University of Science and Technology and other institutions played a significant role in organizing and contributing to the conference, promoting global financial research [9]

Group 1 - The 23rd China International Conference in Finance (CICF) was successfully held in Shenzhen, showcasing its growing influence in the global financial academic community [1][2] - The conference received 3,056 submissions, with 1,758 valid papers and 236 accepted papers, highlighting its significance in the finance and economics field [2] - The event recorded a registration of 1,345 participants, marking a new high for in-person attendance, emphasizing the conference's academic stature and international impact [2] Group 2 - Nobel laureate Thomas J. Sargent delivered a keynote speech on optimal fiscal policy based on short-term debt, providing new insights for sustainable fiscal policy design amid high government debt levels globally [2] - The conference agenda spanned three days, featuring 60 academic sub-sessions and 472 presentations covering various cutting-edge topics in finance, including AI-driven capital markets and asset pricing [3] - The Hong Kong University of Science and Technology and other institutions actively participated in organizing and evaluating papers, contributing to the establishment of a global financial research platform [3]

Core Viewpoint - China Financial International (00721.HK) experienced a significant surge in stock price, initially rising nearly 900% before settling at over 300% increase, currently priced at 0.124 HKD with a trading volume of 3.0784 million HKD [1] Group 1 - The stock price of China Financial International saw a peak increase of nearly 900% during early trading [1] - The current trading price is reported at 0.124 HKD, reflecting a more than 300% increase from previous levels [1] - The total trading volume reached 3.0784 million HKD, indicating active market participation [1]

Financial Performance - The company reported unaudited revenue of HKD 164,000 for the six months ending December 31, 2024, compared to HKD 4,123,000 for the same period in 2023, indicating a significant decline[2]. - Other income and losses amounted to HKD 3,677,000, a decrease from HKD 1,000,000 year-on-year[2]. - The company recorded a fair value gain of HKD 1,139,000 from financial assets, down from HKD 72,082,000 in the previous year[2]. - Administrative expenses decreased to HKD 2,780,000 from HKD 4,263,000, reflecting a reduction of approximately 34.8%[2]. - The company reported a pre-tax profit of HKD 1,641,000, significantly lower than HKD 68,325,000 in the prior year[2]. - The net profit for the period was HKD 1,641,000, compared to HKD 68,325,000 in the same period last year, marking a substantial decline[2]. - Total comprehensive income for the period was HKD 1,926,000, down from HKD 79,262,000 year-on-year[4]. - The group recorded a profit of HKD 1,641,000 for the six months ending December 31, 2024[9]. - Basic earnings per share for the six months ending December 31, 2024, were HKD 0.15, compared to HKD 6.23 for the same period in 2023[25]. - The group recorded a pre-tax profit of HKD 1,641,000 for the six months ending December 31, 2024[17]. - The group did not declare an interim dividend for the six months ending December 31, 2024[24]. - The total employee cost for the period was HKD 1,102,000, a decrease from HKD 2,327,000 for the same period in 2023[44]. Assets and Liabilities - The company's total assets less current liabilities stood at HKD 167,123,000, an increase from HKD 165,514,000[5]. - Cash and cash equivalents increased to HKD 38,303,000 from HKD 19,000, indicating improved liquidity[5]. - The company’s net current assets amounted to HKD 101,652,000, up from HKD 100,132,000, showing a slight improvement in financial health[5]. - The net asset value of the group increased to HKD 167,069,000 as of December 31, 2024, compared to HKD 165,143,000 as of June 30, 2024[6]. - The group's total equity remained stable at HKD 167,069,000, with a net asset value per share of HKD 1.52[6]. - The group’s total liabilities were not allocated to reportable segments, indicating a focus on asset management[19]. - The group had no bank borrowings or capital commitments as of December 31, 2024[38]. - There were no significant contingent liabilities as of December 31, 2024[41]. - The current ratio as of December 31, 2024, was approximately 5.07 times, up from 4.95 times on June 30, 2024[37]. - The debt-to-asset ratio as of December 31, 2024, was approximately 13.03%, a slight decrease from 13.49% on June 30, 2024[37]. Investment Activities - The group operates primarily in investment activities in Hong Kong and the People's Republic of China[7]. - The company plans to exit investments in the micro-lending industry due to concerns over declining interest rates and rising operational risks, while continuing to focus on investments in the bioenergy sector[31][32]. - The company sold 2,555,000 shares of Hengding Industrial, generating total proceeds of approximately HKD 149,000, resulting in a realized loss of approximately HKD 8,015,000 based on an investment cost of approximately HKD 8,164,000[29]. - The company holds a 30% equity interest in Hainan Keyi Huirui Bioenergy Technology Co., Ltd., with a cost of HKD 117,450,000[34]. - The company has a 30% stake in Henan Zhongxin Bioenergy Co., Ltd., with a fair value of HKD 22,109,000[34]. - The company is focusing on the bioethanol industry in China to maximize shareholder value[36]. - The company has invested in multiple joint ventures, including a 30% stake in Henan Tian Guan Energy Biochemical Technology Co., Ltd.[35]. - The company has a 30% interest in Jiangxi Huazhang Hancheng Guarantee Group Co., Ltd., with a cost of HKD 43,150,000[34]. - The company has a 30% stake in Xi'an Kairong Financial Services Co., Ltd., with a cost of HKD 18,724,000[34]. - The company is actively involved in the development and sales of clean energy products, including biofuels and chemical products[34]. - The company has a 30% equity interest in Tianjin Binlian Microfinance Co., Ltd., with a cost of HKD 12,271,000[34]. Financial Management and Governance - The company may need to secure additional equity or debt financing to support future capital plans[9]. - The company continues to monitor cash flow and assess future funding options based on market conditions[9]. - The financial statements are prepared in accordance with the Hong Kong Accounting Standards and reflect the group's ongoing business operations[10]. - The company emphasizes the importance of resource allocation and performance evaluation based on investment categories and related businesses[15]. - The group has applied new amendments to the Hong Kong Financial Reporting Standards, effective from July 1, 2024, which did not have a significant impact on the financial position[14]. - The group has adopted the corporate governance code and has complied with the relevant rules, with some deviations noted[46]. - The group recognized a reversal of impairment losses on other receivables amounting to HKD 3,677,000 for the six months ending December 31, 2024[22]. - The total profit from listed securities business during this period was HKD 3,356,000, with no dividend income recorded from listed investments for the six months ending December 31, 2024[28]. - The market value of listed securities as of December 31, 2024, was HKD 36,998,000, an increase from HKD 33,791,000 as of June 30, 2024[28]. - The group incurred a total loss of HKD 1,053,000 from unlisted investments during this period, a significant decline from a profit of HKD 53,431,000 in the same period last year[30]. - The fair value of unlisted investments decreased by 2.09% to HKD 51,244,000 as of December 31, 2024, down from HKD 52,339,000 as of June 30, 2024[30]. - The group’s net asset value as of December 31, 2024, was HKD 167,069,000, reflecting a slight increase from HKD 165,143,000 as of June 30, 2024[26]. - The total number of issued shares remained constant at approximately 10,971,634,030 shares as of December 31, 2024[42]. - The financing costs decreased from HKD 453,000 in 2023 to HKD 433,000 in 2024[18]. - The company aims to carefully assess and mitigate potential risks while striving to deliver greater returns to shareholders[36].

Financial Performance - The company reported a revenue of HKD 123 million for the six months ended December 31, 2023, compared to HKD 79 million in the same period last year, representing a 55.7% increase[5]. - The pre-tax profit for the period was HKD 68.325 million, a significant recovery from a loss of HKD 42.707 million in the previous year[5]. - The total comprehensive income for the period amounted to HKD 79.262 million, compared to a loss of HKD 64.148 million in the same period last year[5]. - Earnings per share for the period were HKD 0.62, compared to a loss per share of HKD 0.39 in the previous year[5]. - The total comprehensive income for the period ending December 31, 2023, was HKD 79,262,000, compared to HKD 572,789,000 for the same period in 2022, indicating a significant decrease[14]. - The company reported a loss of HKD 42,707,000 for the period ending December 31, 2022, which improved to a loss of HKD 77,778,000 for the period ending December 31, 2023[14]. - The company recorded a profit of HKD 68,325,000 for the six months ended December 31, 2023, compared to a profit of HKD 42,707,000 in the same period last year, representing a year-over-year increase of approximately 60.2%[166]. Assets and Liabilities - The company's net asset value increased to HKD 208.711 million as of December 31, 2023, up from HKD 129.449 million as of June 30, 2023[8]. - The total liabilities decreased to HKD 10.674 million from HKD 11.970 million, indicating improved financial stability[8]. - The total assets as of December 31, 2023, amounted to HKD 241,639,000, an increase from HKD 159,257,000 as of June 30, 2023[31]. - The company’s net current assets amounted to HKD 47,896,000 as of December 31, 2023[42]. - The current ratio as of December 31, 2023, was approximately 3.15 times, up from 1.93 times as of June 30, 2023[179]. - The debt-to-asset ratio as of December 31, 2023, was approximately 13.63%, down from 18.72% as of June 30, 2023[179]. Cash Flow and Financing - The company’s cash and cash equivalents stood at HKD 523 thousand, a slight decrease from HKD 606 thousand[8]. - Cash and cash equivalents at the end of the period were HKD 523,000, down from HKD 763,000 at the end of the previous period[42]. - The net cash generated from operating activities was HKD 725,000, a significant improvement from a net cash outflow of HKD 36,829,000 in the prior period[42]. - The company experienced a decrease in cash and cash equivalents due to net cash outflows from operating and investing activities totaling HKD 83,000[42]. - The company may need to secure additional equity or debt financing to support future capital plans, depending on external factors affecting cash flow[42]. - The company’s financing activities resulted in cash used of HKD 729,000, slightly higher than HKD 717,000 in the prior period[42]. Investments - The fair value of financial assets measured at fair value through profit or loss increased to HKD 142.470 million from HKD 83.448 million[8]. - The company’s financial assets at fair value through profit or loss included listed equity securities valued at HKD 15,221,000 and unlisted equity investments valued at HKD 83,448,000[17]. - The fair value of listed securities classified as financial assets at fair value through profit or loss was HKD 172,017,000 as of December 31, 2023, compared to HKD 98,669,000 on June 30, 2023, reflecting a 74.4% increase[66]. - The group’s investment in non-listed equity investments amounted to HKD 142,470,000 as of December 31, 2023, up from HKD 83,448,000 on June 30, 2023[66]. - The company has invested HKD 10,912,000 in Jiangxi Huazhang, with a fair value of HKD 10,912,000 as of December 31, 2023, unchanged from June 30, 2023[95]. - The company sold its entire stake in Mengzhou Houyuan for HKD 9,723,000, with a one-year credit period provided to the buyer[100]. - The company subscribed to 262,000,000 new shares of China Urban Infrastructure at HKD 0.50 per share, totaling HKD 131,000,000, representing approximately 8.4% of the total issued share capital as of December 31, 2023[118]. Strategic Focus and Future Outlook - The company is focusing on expanding its market presence and enhancing its investment strategies moving forward[5]. - The company plans to continue focusing on investments in the bioenergy sector while gradually exiting past investments in the microfinance industry to maximize shareholder value[171]. - The company plans to exit investments in the micro-lending industry due to concerns over declining interest rates and rising operational risks[193]. - The company’s management believes it has the ability to obtain financing to meet future capital plans, indicating a positive outlook for operational sustainability[22]. Employee and Management Costs - Employee costs, including director remuneration, decreased to HKD 2,295,000 from HKD 4,845,000 year-on-year[77]. - The investment management fee paid to CICC International Investment Management was HKD 68,000 for the six months ended December 31, 2023, down from HKD 89,000 in the same period of 2022[111]. - The group reported management fees of HKD 68,000 for the six months ending December 31, 2023, down from HKD 89,000 in the previous year[77]. Dividends and Share Options - The company did not recommend any interim dividend for the six months ending December 31, 2023, consistent with the previous year[35]. - The group has not declared any interim dividends for the period, consistent with the previous year[180]. - The company has a new share option plan approved by shareholders, effective for ten years until December 14, 2027[130]. - The company has not issued any share options under the new plan during the reporting period[132].

Financial Performance - The company reported a profit of HKD 68,325,000 for the six months ending December 31, 2023, compared to a loss of HKD 42,707,000 in the same period of 2022, representing a significant turnaround [2]. - Total revenue for the period was HKD 123,000, an increase from HKD 79,000 year-on-year [2]. - The group reported a total segment profit of HKD 72,205,000 for the six months ended December 31, 2023, compared to a loss of HKD 34,899,000 for the same period in 2022 [16]. - Basic and diluted earnings per share for the period were HKD 0.62 cents, compared to a loss of HKD 0.39 cents per share in the same period last year [3]. - The group’s pre-tax loss for the six months ended December 31, 2023, was HKD 68,325,000 [16]. - The company recorded a profit of HKD 68,325,000 for the six months ended December 31, 2023, compared to a profit of HKD 42,707,000 for the same period last year, representing a year-over-year increase of 60.2% [29]. Asset and Equity Position - The company's net asset value increased to HKD 208,711,000 as of December 31, 2023, up from HKD 129,449,000 as of June 30, 2023 [6]. - Total assets increased to HKD 241,639,000 as of December 31, 2023, up from HKD 159,257,000 as of June 30, 2023 [18]. - The total assets less current liabilities amounted to HKD 219,385,000, compared to HKD 130,422,000 in the previous period [5]. - The group's total equity as of December 31, 2023, was HKD 208,711,000, an increase from HKD 129,449,000 on June 30, 2023 [47]. Cash and Liquidity - The company had cash and cash equivalents of HKD 523,000 as of December 31, 2023, down from HKD 606,000 at the end of June 2023 [5]. - The current ratio as of December 31, 2023, was approximately 3.15 times, up from 1.93 times on June 30, 2023 [41]. - The debt-to-asset ratio as of December 31, 2023, was approximately 13.63%, down from 18.72% on June 30, 2023 [41]. - The group has no bank borrowings or capital commitments as of December 31, 2023 [41]. Segment Performance - The clean energy segment generated a profit of HKD 52,733,000, while the real estate and natural gas segment contributed HKD 14,827,000 [16]. - The group’s total segment revenue for the clean energy segment was HKD 123,000 for the six months ended December 31, 2023 [16]. - The group’s total segment assets reached HKD 239,911,000 as of December 31, 2023, compared to HKD 156,845,000 as of June 30, 2023 [18]. Investment and Fair Value - The company plans to exit investments in the micro-lending industry due to rising operational risks and declining interest rates, while continuing to focus on investments in the clean energy sector [34]. - The fair value gains from listed investments amounted to approximately HKD 14,326,000, while the fair value gains from unlisted investments were about HKD 57,756,000 during the same period [29]. - The fair value of unlisted investments increased by 62.89% to HKD 153,382,000 as of December 31, 2023, compared to HKD 94,163,000 as of June 30, 2023 [33]. - The company holds a 30% stake in Henan Tianguan Energy Bio-chemical Technology Co., with a fair value of HKD 34,899,000 as of December 31, 2023 [36]. Employee Costs - The group’s employee costs, including directors' remuneration, amounted to HKD 2,295,000 for the six months ended December 31, 2023 [25]. - The total employee costs for the period were HKD 2,327,000, a decrease from HKD 4,915,000 in the previous year [49]. Dividends and Shareholder Returns - The group did not declare an interim dividend for the six months ended December 31, 2023 [26]. - The group did not recommend any interim dividend for the period, consistent with the previous year [42]. Governance and Compliance - The company has adopted the standard code of conduct for securities trading as per Appendix C3 of the listing rules, confirming full compliance by all directors during the period [53]. - An audit committee has been established, consisting of three independent non-executive directors, to review accounting principles and discuss audit and risk management systems [54]. Management and Operations - Trading of the company's shares has been suspended since October 3, 2023, and will continue until further notice [56]. - The chairman and CEO of the company is Du Lindong [57]. - As of the announcement date, the executive director is Du Lindong, with independent non-executive directors including Lei Zhiwei, Liu Xiaodong, and Zong Shijian [58].

Financial Position - As of December 31, 2022, the company has made a deposit of HKD 10,000,000 for potential investments, with an expected credit loss provision of HKD 2,500,000[4]. - The company has prepaid HKD 32,482,000 to an investee for capital contributions, which will be recorded as investment cost upon completion of formal capital registration[4]. - The total issued and paid-up ordinary shares as of December 31, 2022, is 10,971,634, amounting to HKD 109,717,000[10]. - The company has a provision for loss of HKD 43,832,000 as of December 31, 2022, compared to HKD 11,920,000 as of June 30, 2022[3]. - The company’s current assets as of December 31, 2022, amount to HKD 41,695,000, compared to HKD 9,785,000 as of June 30, 2022[3]. - The company has no non-current liabilities as of December 31, 2022, with current liabilities remaining at HKD 9,997,000[6]. - The total liabilities of the company as of December 31, 2022, were HKD 33,994,000, slightly up from HKD 33,469,000 as of June 30, 2022, reflecting a 1.6% increase[129]. - The total equity of the group as of December 31, 2022, was HKD 508,486,000, down from HKD 572,789,000 as of June 30, 2022[100]. - The company’s equity attributable to owners decreased from HKD 572,789,000 to HKD 508,641,000, a decline of 11.2% over the six-month period[129]. - The company's net asset value decreased to HKD 508,641,000 as of December 31, 2022, down from HKD 572,789,000 as of June 30, 2022, reflecting a decline of 11.2%[129]. Investment Performance - The company recorded a loss of HKD 42,707,000 for the six months ended December 31, 2022, compared to a loss of HKD 46,093,000 in the same period last year[44]. - Fair value losses from listed investments amounted to approximately HKD 16,479,000, while fair value losses from unlisted investments were about HKD 18,499,000[44]. - The total loss from the listed securities business during this period was HKD 25,387,000, with no dividend income recorded from listed investments[45]. - The group’s non-listed investment portfolio recorded a total loss of HKD 19,726,000, compared to a loss of HKD 52,037,000 in the previous year[48]. - The fair value of the group's non-listed investments decreased by 6.13% to HKD 456,928,000, down from HKD 486,785,000[48]. - The company reported a loss attributable to equity holders of HKD 42,707,000 for the six months ended December 31, 2022, compared to a loss of HKD 46,093,000 for the same period in 2021, showing an improvement of 8.3%[91]. - The company recorded a fair value loss on financial assets of HKD 34,978,000, compared to a loss of HKD 37,829,000 in the prior year, marking a 7.4% improvement[127]. - The company reported a loss from an associate of HKD 7,329,000 for the period, compared to a loss of HKD 7,988,000 in the previous year, indicating a 8.2% improvement[127]. Shareholder Information - Major shareholders as of December 31, 2022, include Gan Xiaoqing with 1,117,780,000 shares (10.19%), Hongjing Holdings Limited with 1,016,860,000 shares (9.27%), and Zhang Gu with 1,000,000,000 shares (9.11%) each[109]. - The company does not recommend the distribution of an interim dividend for the six months ended December 31, 2022, consistent with the previous year[90]. - The group did not recommend any interim dividend for the period, consistent with the previous year[97]. Cash Flow and Liquidity - As of December 31, 2022, the group's cash and cash equivalents amounted to HKD 763,000, a significant decrease from HKD 39,600,000 as of June 30, 2022[96]. - Cash and cash equivalents at the end of the period were HKD 763,000, a significant decrease from HKD 9,434,000 at the end of the previous year, indicating a decline of 91.9%[134]. - The current ratio as of December 31, 2022, was approximately 2.07, down from 2.84 as of June 30, 2022[96]. - The debt-to-asset ratio as of December 31, 2022, was approximately 6.26%, an increase from 5.52% as of June 30, 2022[96]. - Operating cash flow before changes in working capital was negative HKD 36,839,000, compared to a positive cash flow of HKD 3,536,000 in the previous year, indicating a significant deterioration in cash flow[134]. Corporate Governance - The company has adopted the corporate governance code but has deviations regarding the separation of roles between the chairman and CEO, which are held by the same individual[115]. - The board of directors has confirmed compliance with the standard code of conduct for securities trading during the reporting period[119]. - The audit committee, consisting of three independent non-executive directors, reviewed the accounting principles and practices adopted by the group and discussed audit and risk management matters[119]. Future Outlook - The group plans to exit investments in the micro-lending industry due to declining performance and increasing operational risks[49]. - The group will continue to focus on investments in the bioenergy sector, aiming to maximize shareholder value[49]. - The company plans to expand its market presence through strategic partnerships and joint ventures in the bioenergy sector[67]. - The company is focused on developing new technologies and products in the bioenergy and biotechnology fields to enhance its competitive edge[67]. - The company has recognized the need for further investment in research and development to drive future growth and innovation[67]. Financial Reporting - The company has adopted revised Hong Kong Financial Reporting Standards effective from June 1, 2022, which did not significantly impact the financial position or performance[151]. - The company’s financial statements are prepared on a going concern basis, indicating confidence in obtaining necessary financing[139]. - The company’s financial reporting adheres to the Hong Kong Accounting Standards and the Stock Exchange Listing Rules[138].

Financial Performance - The group's net asset value decreased to HKD 572,789,000, down from HKD 799,531,000 in the previous year[9]. - The net loss for the year was HKD 215,195,000, compared to a loss of HKD 66,645,000 in the previous year[15]. - Fair value losses on unlisted investments amounted to approximately HKD 189,492,000, while listed investments incurred fair value losses of about HKD 10,967,000[15]. - The market value of listed securities as of June 30 was HKD 69,383,000, down from HKD 89,258,000 the previous year[17]. - The group recorded total losses from listed securities business of HKD 19,875,000, compared to a loss of HKD 4,169,000 last year[17]. - The group's non-listed investment portfolio recorded a total loss of HKD 193,684,000 for the year ended June 30, 2022, compared to a loss of HKD 52,190,000 in the previous year, primarily due to a decrease in fair value of clean energy companies[60]. - The fair value of the group's non-listed investments decreased by 28.96% from HKD 685,224,000 last year to HKD 486,785,000 as of June 30, 2022[60]. - The company reported a total distributable reserve of HKD 442,688,000 as of June 30, 2022, down from HKD 699,988,000 in 2021[100]. Investment Strategy - The company plans to continue focusing on the Chinese bioethanol industry to maximize shareholder value[12]. - The company plans to exit investments in the micro-lending industry due to declining performance and increasing operational risks, while continuing to focus on investments in the bioenergy sector[61]. - The company aims to maximize shareholder value through strategic exits from underperforming sectors and continued investment in high-potential areas like bioenergy[61]. - The company has made significant investments in the clean energy sector since 2018, focusing on bioenergy as a carbon-neutral and renewable energy source[61]. Administrative and Operational Efficiency - Administrative expenses decreased by 24.44% to HKD 15,647,000 from HKD 20,709,000 in the previous year[16]. - The total employee cost for the year was HKD 10,358,000, down from HKD 11,938,000 in the previous year[77]. - The company has established frameworks and formal communication channels to maintain good relationships with employees and stakeholders, despite having no major customers or suppliers disclosed for the year[94]. Corporate Governance - The board consists of a mix of executive and non-executive directors, ensuring a balance of skills and experience to meet the group's business needs[149]. - The company has adopted a board diversity policy, considering factors such as gender, age, and professional experience to enhance board efficiency[150]. - The board is responsible for leading and monitoring the company, making objective decisions in the best interest of the company[146]. - The company has adopted the standards of conduct for directors' securities trading as per the listing rules[143]. - The company is preparing for the re-election of non-executive and independent non-executive directors at the upcoming annual general meeting[105]. Risk Management and Compliance - The company is committed to maintaining an effective risk management and internal control system to ensure no significant misstatements or losses occur[181]. - The board of directors is responsible for maintaining good risk management and internal control systems, particularly in financial, operational, compliance, and risk management aspects[181]. - The audit committee reviewed the effectiveness of the internal control system and found no significant deficiencies[181]. - The board is tasked with reviewing and monitoring compliance with statutory and regulatory requirements[178]. Environmental, Social, and Governance (ESG) - The company emphasizes the importance of environmental and social governance in its operations and aims to minimize its environmental impact[192]. - The environmental, social, and governance (ESG) report covers the period from July 1, 2021, to June 30, 2022[193]. - The report aims to present a balanced view of the company's overall sustainability performance, detailing both achievements and challenges faced[196]. - The company commits to maintaining consistency in the scope and reporting methods of the ESG report annually[196]. - Stakeholders are encouraged to provide feedback on the company's sustainability policies through its official website[200].

Financial Performance - Revenue for the six months ended December 31, 2021, was HKD 181,000, a decrease of 3.2% from HKD 187,000 in the same period of 2020[5]. - Other income significantly dropped to HKD 3,000 from HKD 22,946, indicating a decline of approximately 99.9%[5]. - The loss before tax for the period was HKD (46,093,000), compared to HKD (27,874,000) in the prior year, representing an increase of 65.5%[5]. - Total comprehensive income for the period was HKD (31,445,000), up from HKD (20,316,000) in the previous year, indicating a rise of 55.5%[5]. - The company reported a loss of HKD 46,093,000 for the six months ended December 31, 2021, compared to a loss of HKD 27,874,000 for the same period in 2020, representing an increase in loss of approximately 65.5%[12]. - The group reported a loss attributable to shareholders of HKD 46,093,000 for the six months ended December 31, 2021, compared to a loss of HKD 27,874,000 in the same period of 2020, indicating an increase in loss of approximately 65.5%[33]. - For the six months ended December 31, 2021, the company reported a total loss of HKD 37,648,000, compared to a loss of HKD 37,341,000 for the same period in 2020[25]. Assets and Liabilities - The net asset value as of December 31, 2021, was HKD 768,086,000, down from HKD 799,531,000 as of June 30, 2021, a decrease of 3.9%[7]. - Non-current assets totaled HKD 689,980,000, a decrease from HKD 727,548,000 as of June 30, 2021, reflecting a decline of 5.1%[7]. - Current assets increased to HKD 120,812,000 from HKD 106,833,000, marking a growth of 13%[7]. - The company’s total assets as of December 31, 2021, were valued at HKD 768,086,000, down from HKD 799,531,000 at the end of 2020[10]. - The company’s accumulated losses increased to HKD 1,687,944,000 as of December 31, 2021, compared to HKD 1,641,851,000 at the end of 2020[10]. - The company’s total liabilities were not allocated to reportable segments, indicating a focus on asset management without direct liabilities impacting segment performance[27]. Cash Flow and Financing - The company recorded a net cash inflow from operating activities of HKD 3,539,000 for the six months ended December 31, 2021, compared to a net cash outflow of HKD 9,965,000 for the same period in 2020[12]. - The company’s financing activities resulted in a net cash outflow of HKD 716,000 for the six months ended December 31, 2021, compared to HKD 35,114,000 for the same period in 2020[12]. - The company may need to obtain additional equity or debt financing to support future capital plans, depending on various external factors[17]. - The company’s operating cash flow before changes in working capital showed a loss of HKD 7,463,000 for the six months ended December 31, 2021[12]. Investments - The group held 436,079,429 shares of China Urban Infrastructure Group, representing about 13.94% of its issued share capital, with an investment market value of HKD 65,412,000 as of December 31, 2021, up from HKD 54,074,000 as of June 30, 2021[38]. - The group reported a total of HKD 609,882,000 in non-listed equity investments as of December 31, 2021, down from HKD 654,067,000 as of June 30, 2021, indicating a decrease of about 6.7%[37]. - The group has invested in several non-listed equity investments, including a 30% stake in Henan Tianguan Energy Biochemical Technology Co., which produces and sells denatured fuel ethanol and biodegradable plastics, with a fair value of HKD 39,313,000 as of December 31, 2021[48]. - The investment in Hunan South New Energy Co., also at 30%, focuses on new energy technology development, with a fair value of HKD 150,065,000 as of December 31, 2021[48]. - The group has made significant investments in bioenergy, focusing on reducing greenhouse gas emissions and enhancing resilience in agriculture and food processing[119]. Segment Performance - The clean energy segment reported a loss of HKD 61,324,000 for the six months ended December 31, 2021, compared to a loss of HKD 11,801,000 in the previous year[25]. - The real estate and natural gas segment reported assets of HKD 104,712,000 as of December 31, 2021, an increase from HKD 86,562,000 as of June 30, 2021[27]. - The group plans to exit investments in the micro-lending industry due to declining performance and increasing operational risks, while continuing to focus on investments in the bioenergy sector[119]. Corporate Governance - The company has complied with the corporate governance code, except for the combined role of Chairman and CEO held by 杜林東, which the board believes is suitable for the current stage of development[152]. - The audit committee, consisting of three independent non-executive directors, has reviewed the accounting principles and practices adopted by the group and recommended the unaudited interim consolidated financial statements for board approval[155]. Shareholder Information - Major shareholders owning 5% or more of the company's ordinary shares include 甘小清 with 1,117,780,000 shares (10.19%), 鴻景控股有限公司 with 1,016,860,000 shares (9.27%), and 張祖豪 with 1,000,000,000 shares (9.11%)[146]. - The company has not granted, exercised, or forfeited any share options under the share option scheme adopted on December 15, 2017, as of December 31, 2021[148].