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].

China Financial International Investments Limited 國 金 融 國 際 投 資 有 限 公 司 中 (於開曼群島註冊成立並遷冊往百慕達之有限公司) (股份代號: 721) 2021 载 目錄 目錄 公司資料 2 主席報告 3 管理層討論及分析 4 董事及高層管理人員簡歷 11 董事會報告 13 企業管治報告 22 環境、社會及管治報告 33 獨立核數師報告 48 綜合損益及其他全面收益表 53 綜合財務狀況表 54 綜合權益變動表 55 綜合現金流量表 56 綜合財務報表附註 57 五年財務概要 132 01 中國金融國際投資有限公司 公司資料 | --- | --- | --- | |----------------------------------------|--------------------------------------|-------| | | | | | 董事會 | 投資經理 | | | 執行董事 杜林東先生 （主席及行政總裁） | 中國金融國際投資管理有限公司 | | | | 託管商 | | | 非執行董事 丁小斌先生 | 交通銀行信 ...

Revenue and Income - Revenue for the six months ended December 31, 2020, was HKD 187,000, a significant decrease of 99% compared to HKD 19,199,000 in the same period of 2019[5] - Other income increased to HKD 22,946,000, up 285% from HKD 5,960,000 year-over-year[5] - Revenue for the six months ended December 31, 2020, was HKD 22,946,000, compared to HKD 5,960,000 for the same period in 2019, representing a significant increase[31] Losses and Financial Performance - The company reported a loss before tax of HKD 27,874,000, an improvement from a loss of HKD 96,257,000 in the previous year[5] - Total comprehensive loss for the period amounted to HKD 20,316,000, compared to a loss of HKD 132,066,000 in the same period last year[5] - The company reported a loss of HKD 27,874,000 for the six months ended December 31, 2020, compared to a loss of HKD 96,257,000 for the same period in 2019, indicating a significant improvement[12] - The company reported a loss attributable to shareholders of HKD 27,874,000 for the six months ended December 31, 2020, compared to a loss of HKD 96,257,000 in the same period of 2019[38] - The company experienced a net cash outflow from operating activities of HKD 11,708,000 for the six months ended December 31, 2020, compared to a net cash inflow of HKD 9,778,000 in the previous year[12] Assets and Liabilities - Non-current assets totaled HKD 753,959,000 as of December 31, 2020, an increase from HKD 702,736,000 as of June 30, 2020[7] - Current assets decreased to HKD 95,732,000 from HKD 199,570,000 in the previous period[7] - The company's net asset value was HKD 795,401,000, down from HKD 815,717,000 as of June 30, 2020[7] - The total liabilities decreased to HKD 54,290,000 from HKD 86,589,000 as of June 30, 2020[7] - The company’s total assets as of December 31, 2020, were HKD 795,401,000, down from HKD 1,084,706,000 as of December 31, 2019[10] Cash and Cash Equivalents - The company had cash and cash equivalents of HKD 48,479,000, a decrease from HKD 107,372,000 in the previous period[7] - As of December 31, 2020, the company's cash and cash equivalents amounted to HKD 7,554,000, a decrease from HKD 45,440,000 at the end of 2019[15] - As of December 31, 2020, the company held cash deposits of HKD 30,000,000 for potential investments, with a provision for expected credit losses of HKD 7,500,000[80] Investments and Segments - The clean energy segment reported a loss of HKD 11,801,000 for the six months ended December 31, 2020, while the real estate and natural gas segment incurred a loss of HKD 14,439,000[29] - The company reported a loss of HKD 7,327,000 from its micro-lending services segment for the six months ended December 31, 2020[29] - The company plans to exit the micro-lending industry due to declining interest rates and rising operational risks, focusing instead on investments in the bioenergy sector[127] - The company has invested in several bioenergy projects, with notable investments including HKD 150,065,000 in Mengzhou Houyuan Biotechnology Co., which had a fair value of HKD 146,581,000, accounting for 18.43% of the group's net asset value[133] Corporate Governance and Compliance - The board of directors is responsible for maintaining high levels of corporate governance and has complied with the corporate governance code, with one exception regarding the roles of the chairman and CEO being held by the same individual[165] - The audit committee, consisting of three independent non-executive directors, reviewed the accounting principles and practices adopted by the group[169] - The company will continue to monitor and review its corporate governance practices to ensure compliance with the corporate governance code[166] Future Outlook and Strategy - The company plans to continue monitoring cash flow forecasts and may need to secure additional equity or debt financing to support future capital plans[18] - The company aims to maximize shareholder value by gradually exiting the micro-lending sector while increasing its focus on bioenergy investments[127] - The company plans to continue focusing on the bioethanol industry in China to maximize shareholder value[144] - The company has entered into cooperation agreements with local governments and companies to establish joint ventures in the bioethanol sector[144] Market Conditions and Risks - The company continues to assess the impact of the pandemic on its operations and financial performance, indicating a cautious outlook for future periods[24] - The company does not face significant foreign exchange risk as the majority of its transactions are conducted in HKD and RMB[152] Shareholder Information - The company’s major shareholders include Zhang Zuhao with 1,000,000,000 shares (9.11%) and Hongjing Holdings Limited with 1,016,860,000 shares (9.27%) as of December 31, 2020[159] - The total equity held by the beneficial owner Du Lintong amounts to 685,914,830 shares, representing approximately 6.25% of the company’s equity[155]

Financial Performance - The group's net asset value decreased to HKD 815,717,000, down from HKD 1,084,706,000 in the previous year[25]. - The group reported a loss attributable to owners of HKD 218,500,000, compared to a loss of HKD 327,563,000 in the previous year[35]. - Dividend income from investments decreased by 88.12% to HKD 3,354,000 compared to HKD 28,230,000 last year[36]. - Total loss from listed securities business amounted to HKD 137,194,000, an increase from last year's loss of HKD 114,742,000[37]. - Non-listed investment portfolio recorded a total loss of HKD 101,644,000, significantly reduced from HKD 295,832,000 last year[41]. - The company's total equity as of June 30, 2020, is HKD 815,717,000, down from HKD 1,084,706,000 in 2019[116]. - The company's distributable reserves as of June 30, 2020, amounted to HKD 702,808,000, a decrease from HKD 967,094,000 in 2019[150]. - The group had a total employee cost of HKD 10,922,000 for the year, a decrease of 19% from HKD 13,496,000 in the previous year[118]. Investment Strategy - The company continues to focus on the bioethanol industry in China, aiming to maximize shareholder value[31]. - The company signed cooperation agreements to establish two joint ventures in the bioethanol sector with local government and industry partners[31]. - The company aims to prudently assess and mitigate potential risks while striving to deliver greater returns to shareholders[31]. - Focus will continue on investments in the bioenergy sector to maximize shareholder value[44]. - The main business of the company and its subsidiaries remains investment holding and investment in listed and unlisted companies in Hong Kong and other regions of China, with no significant changes in business nature during the year[138]. - The company has not made any significant changes to its investment strategy or market expansion plans during the year[138]. - The company’s business is primarily focused on investments in listed and unlisted investments and other related financial assets, which are subject to global economic fluctuations[171]. Economic Context - The Chinese economy grew by 6.1% in 2019, aligning with the growth target of 6% to 6.5%[28]. - The total import and export volume in China increased by 3.4% year-on-year[28]. Governance and Compliance - The board of directors presented the audited financial statements for the year[137]. - The board of directors includes experienced professionals with extensive backgrounds in finance and investment, enhancing the company's governance[121][122][123][127][128]. - The company complies with applicable laws and regulations, hiring legal and compliance advisors as necessary[143]. - The company has received annual independence confirmations from all independent non-executive directors, affirming their independence[169]. - The company has adopted a board diversity policy that considers factors such as gender, age, cultural background, and professional experience to enhance board efficiency[199]. - The board composition is regulated by company bylaws and must include at least three independent non-executive directors, with one possessing appropriate professional qualifications or financial management expertise[198]. Shareholder Information - The total number of issued shares remains approximately 10,971,634,000, unchanged from 2019[116]. - The board does not recommend the distribution of a final dividend for the year, maintaining a policy that dividends will be declared based on the group's after-tax profits and operational needs[114]. - Major shareholders owning 5% or more of the company's shares include Zhang Zuhao with 1,000,000,000 shares (9.11%), Century Gold Investment Limited with 1,000,000,000 shares (9.11%), and Li Lihong with 979,830,000 shares (8.93%)[163]. Operational Metrics - As of June 30, 2020, the group's cash and cash equivalents amounted to HKD 64,911,000, an increase from HKD 36,124,000 in 2019[112]. - The current ratio of the group as of June 30, 2020, is approximately 2.64 times, down from 26.47 times in 2019[112]. - The debt-to-asset ratio of the group as of June 30, 2020, is approximately 9.60%, compared to 6.99% in 2019[112]. - The group has no bank borrowings as of June 30, 2020, consistent with the previous year[113]. Employee Relations - The company has established frameworks and formal communication channels to maintain good relationships with employees and stakeholders[142]. - The group maintained 15 employees as of June 30, 2020, compared to 14 employees in 2019[118]. Risk Management - The group faced minimal foreign exchange risk as transactions in Renminbi were not significant during the year[117]. - The company is committed to promoting environmental and social sustainability, complying with all relevant laws and regulations in Hong Kong[172]. Miscellaneous - The company has established appropriate insurance coverage for potential legal claims against directors[170]. - The company has adopted a share option scheme to incentivize participants contributing to the group's development[176]. - The company has no significant transactions or contracts in which directors have a substantial interest during the year[166].

China Financial International Investments Limited 中國金融國際投資有限公 司 (於開曼群島註冊成立並遷冊往百慕達之有限公司) (股份代號: 721) 2019 中期報告 公司資料 公司資料 | --- | --- | |-----------------------------------------|----------------------------------------------------------------------------| | 董事會 | 投資經理 | | 執行董事 | 中國金融國際投資管理有限公司 | | 杜林東先生 （主席及行政總裁） | 託管商 | | 非執行董事 丁小斌先生 | 交通銀行信託有限公司 | | 張華宇先生 （副主席） 李傑女士 | 法律顧問 | | 陳希女士 | 百慕達法律 Conyers Dill & Pearman | | 獨立非執行董事 張晶先生 | 註冊辦事處 | | 曾祥高先生 李財林先生 | Clarendon House 2 Church Street Hamilton | | 執行委員會 | ...

Financial Performance - The group's net asset value decreased to HKD 1,084,706,000, down from HKD 1,460,083,000 in the previous year, representing a decline of approximately 25.7%[10] - The group incurred a loss of HKD 327,563,000, primarily due to fair value losses on non-listed investments of approximately HKD 130,230,000 and listed investments of approximately HKD 79,041,000[10] - The company reported a net loss attributable to shareholders of HKD 327,563,000 for the year, compared to a loss of HKD 72,842,000 in the previous year[21] - Investment dividend income increased by 80.58% to HKD 28,230,000 from HKD 15,633,000 last year[22] - The total loss from listed securities business was HKD 113,101,000, up from a loss of HKD 46,910,000 last year[23] - The fair value of non-listed investments decreased by 19.62% to HKD 641,360,000 from HKD 797,909,000 last year[27] - The fair value loss of non-listed investments was approximately HKD 130,230,000[21] - The fair value loss of listed investments was approximately HKD 79,041,000[21] - The company did not recommend a final dividend for the year, similar to the previous year[50] - The company reported a total distributable reserve of HKD 967,094,000 as of June 30, 2019, down from HKD 1,368,565,000 in 2018[83] Business Strategy and Operations - The company plans to focus on the bioethanol industry in China, with an expected annual supply of 1.3 million tons of bioethanol by the end of 2020 due to mandatory E10 gasoline promotion[17] - The company acquired a 30% stake in Hunan Huanan New Energy Co., Ltd. to establish biofuel blending facilities in Hunan Province, enhancing strategic assets in Central China[17] - The company aims to expand its ethanol business into more regions in China, including Guangdong, Hebei, and Hubei provinces[17] - The company plans to exit investments in the micro-lending industry due to rising operational risks and declining interest rates[30] - The focus will continue to be on investments in the bioenergy sector to maximize shareholder value[30] Economic Outlook - The global economic outlook remains weak, with trade tensions impacting growth, particularly in the US and Europe[13] - The company maintains a cautiously optimistic long-term view on China's economic growth despite current trade tensions[16] Risk Management - The board will prudently assess and mitigate potential risks while striving to deliver greater returns to shareholders[17] - The group’s total investment in non-listed equity and convertible bonds is under review, with ongoing assessments of market conditions[35] - The company has engaged an internal control consultant to review and assess the effectiveness of its financial, operational, and compliance monitoring and risk management systems in three phases[153] - The board is responsible for maintaining an effective risk management and internal control system to safeguard shareholder investments and company assets[153] Corporate Governance - The board includes experienced professionals with backgrounds in banking, investment, and management, enhancing the company's strategic capabilities[59][60][61] - The company appointed Chen Xi as a non-executive director effective July 26, 2019, indicating a potential shift in governance and strategic direction[71] - The overall governance structure is designed to support the company's long-term strategic goals and operational efficiency[59][71] - The company has adopted the corporate governance code principles and complied with relevant listing rules[119] - The board consists of 8 members, including 1 executive director, 4 non-executive directors, and 3 independent non-executive directors[124] Employee and Stakeholder Relations - The company has a strong commitment to employee welfare, offering competitive compensation and various benefits, including education allowances and housing subsidies[175] - The company has established a framework to motivate employees and formal communication channels to maintain good relationships with stakeholders[77] - The company encourages directors to attend external seminars or training courses for continuous professional development[130] Environmental Sustainability - The company emphasizes its commitment to environmental sustainability and compliance with relevant laws and regulations[102] - The total greenhouse gas emissions for the reporting period were 10,965.83 kg CO2 equivalent, down from 18,225.10 kg CO2 equivalent in the previous year, indicating a reduction of about 39.1%[170] - The company has implemented various measures to reduce energy consumption, including setting indoor temperatures between 20°C and 26°C and encouraging the use of energy-efficient office equipment[169] - The company promotes a paperless office environment and encourages employees to print double-sided documents to save paper[167] Financial Instruments and Investments - The fair value of financial instruments measured at Level 3 amounted to HKD 528,171,000 and HKD 398,692,000, representing 85.4% of the group's net assets as of June 30, 2019[196] - The fair value of debt instruments measured at other comprehensive income was HKD 302,234,000, representing 27.9% of the group's net assets as of June 30, 2019[200] - Impairment losses on debt instruments measured at fair value through other comprehensive income amounted to HKD 161,824,000 recognized in the profit and loss for the year[200] Shareholder Engagement - The company emphasizes the importance of maintaining communication with shareholders through various channels, including interim reports and annual reports[155] - The company has adopted a shareholder communication policy to encourage active dialogue with shareholders and regularly reviews its effectiveness[157] - The company held two shareholder meetings during the year, with all proposed resolutions being formally passed[161]

Revenue and Profitability - Revenue for the six months ended December 31, 2018, was HKD 28,601,000, a decrease of 10.3% from HKD 32,084,000 in the same period of 2017[11] - Profit before tax for the period was HKD 45,319,000, up 44.2% from HKD 31,410,000 in the prior year[11] - The company reported a net profit of HKD 15,895,000, a decrease of 49.3% from HKD 31,407,000 in the same period last year[11] - The total loss for the period ended December 31, 2018, was HKD 90,330,000, compared to a loss of HKD 41,913,000 for the same period in 2017[78] - The group reported a total profit of HKD 15,895,000 for the six months ended December 31, 2018, compared to HKD 31,407,000 for the same period in 2017, indicating a decrease in profitability[70] Comprehensive Income - Total comprehensive income for the period was a loss of HKD 147,094,000, compared to a loss of HKD 15,409,000 in the previous year[11] - The total loss recognized in other comprehensive income for financial assets at fair value was HKD 162,642,000 for the six months ended December 31, 2018[102] - The company experienced a total loss of HKD 68,986,000 recognized in other comprehensive income during the period[195] Financial Position - The company's total assets and liabilities as of December 31, 2018, are detailed in the interim consolidated financial position statement[13] - The company's equity decreased to HKD 1,308,816,000 from HKD 1,460,083,000, reflecting a decline of approximately 10%[14] - The group's total assets as of December 31, 2018, amounted to HKD 1,459,222,000, a decrease from HKD 1,586,175,000 as of June 30, 2018[72] Cash Flow - The net cash used in operating activities was HKD (68,647,000), an improvement from HKD (104,211,000) in the previous year, showing a reduction of approximately 34%[21] - The net decrease in cash and cash equivalents was HKD (70,242) thousand, with cash and cash equivalents at the beginning of the period being HKD 153,935 thousand[23] - As of December 31, 2018, cash and cash equivalents at the end of the period stood at HKD 80,301 thousand, down from HKD 320,735 thousand a year earlier[23] Financial Assets and Liabilities - The net change in fair value of financial assets was a loss of HKD 33,127,000, compared to a gain of HKD 23,694,000 in the previous year[11] - The fair value of financial assets measured at fair value through profit or loss was HKD 116,650,000, compared to HKD 537,344,000, a decrease of about 78%[14] - The fair value of financial assets measured at fair value through other comprehensive income was HKD 437,588,000 at the end of the period[195] Accounting Standards and Policies - The company adopted new or revised Hong Kong Financial Reporting Standards effective from July 1, 2018, which did not have a significant impact on accounting policies[32] - The transition to HKFRS 9 resulted in a reclassification of financial assets, impacting the reserves and cumulative losses[33] - The group has shifted from an incurred loss model to an expected credit loss model for impairment assessment, impacting the recognition of credit losses earlier than under the previous standard[52] Investments - The group’s investment strategy includes providing microfinance and financial consulting services through its joint ventures in China[104] - The company invested in a joint venture, Tianjin Saida, acquiring a 30% stake, which primarily provides micro-lending and financial consulting services in Tianjin, China[108] - The group has invested in multiple joint ventures across China, primarily focused on providing microloans and financial consulting services, including a 30% stake in Harbin Zhongjin Guoxin and a 10% stake in Tianjin Guotou Rongsun[136][137] Segment Performance - The segment performance for micro-lending services showed a loss of HKD 85,989,000 for the six months ended December 31, 2018, compared to a loss of HKD 27,774,000 for the same period in 2017[70] - Real estate and natural gas segment reported a profit of HKD 62,140,000 for the six months ended December 31, 2018, compared to a loss of HKD 5,821,000 for the same period in 2017[70] - Fixed income financial assets investment segment generated a profit of HKD 87,897,000 for the six months ended December 31, 2018, compared to HKD 46,426,000 for the same period in 2017[70] Management and Expenses - The total management fees paid to CICC International Investment Management for the six months ended December 31, 2018, were HKD 798,000, down from HKD 1,368,000 in 2017[164] - The total remuneration for key management personnel for the six months ended December 31, 2018, was HKD 3,136,000, a decrease from HKD 5,570,000 in 2017[168] - The group’s total undistributed expenses for the reporting period included employee costs of HKD 6,439,000, financing costs of HKD 1,588,000, and other expenses of HKD 12,157,000[70]