Financial Performance - Total revenue for the six months ended June 30, 2020, was HK$38,601,000, an increase from HK$30,991,000 in the same period of 2019, representing a growth of approximately 24%[12] - Gross profit for the period was HK$32,609,000, compared to HK$21,369,000 in 2019, indicating a significant increase of about 53%[12] - Operating profit rose to HK$14,752,000, up from HK$11,843,000 in the previous year, reflecting an increase of approximately 24%[12] - Profit for the period was HK$8,482,000, which is an increase of 14% from HK$7,429,000 in the same period last year[12] - Profit attributable to owners of the Company was HK$2,117,000, slightly up from HK$2,015,000 in 2019, showing a growth of about 5%[12] - Non-controlling interests contributed HK$6,365,000 to the profit, compared to HK$5,414,000 in the previous year, marking an increase of approximately 18%[12] - Consultancy service income and property leasing income totaled HK$37,784,000 and HK$817,000 respectively, compared to HK$28,425,000 and HK$2,566,000 in 2019, indicating growth rates of 33% and 68%[12] - Profit for the period increased to HK$8,482,000, up from HK$7,429,000, representing a growth of 14.1% year-over-year[15] - The company reported a decrease in cash and cash equivalents of HK$96,708,000 for the period, contrasting with an increase of HK$263,439,000 in the previous year[30] Assets and Liabilities - Total assets decreased to HK$1,946,770,000 from HK$2,294,032,000, reflecting a decline of 15.1%[21] - Total equity decreased to HK$1,715,141,000 from HK$1,743,498,000, a reduction of 1.6%[21] - Non-current assets totaled HK$951,947,000, down from HK$1,159,230,000, indicating a decrease of 18.0%[18] - Current liabilities decreased significantly to HK$79,755,000 from HK$371,651,000, a reduction of 78.5%[21] - Non-current liabilities totaled HK$151,874,000, down from HK$178,883,000, a decrease of 15.1%[21] - The total segment assets as of June 30, 2020, amounted to HK$1,799,040,000, a decrease from HK$1,903,881,000 as of December 31, 2019[103] - The total segment liabilities decreased from HK$389,819,000 as of December 31, 2019, to HK$214,524,000 as of June 30, 2020[105] Cash Flow - For the six months ended June 30, 2020, net cash generated from operating activities was HK$176,668,000, an increase of 75.0% compared to HK$100,877,000 in the same period of 2019[30] - Cash flows from investing activities resulted in a net cash inflow of HK$113,123,000, down 31.5% from HK$165,282,000 in the previous year[30] - Net cash used in financing activities was HK$386,499,000, compared to only HK$2,720,000 used in the same period of 2019, indicating a significant increase in financing outflows[30] - The total cash and cash equivalents at the end of the period were HK$501,280,000, a decrease of 53.1% from HK$1,069,389,000 at the end of the previous period[30] - Cash generated from operations was HK$189,547,000, which reflects a substantial increase compared to HK$117,231,000 in the prior year[30] Expenses - Employee benefit expenses increased to HK$16,029,000, up 13.6% from HK$14,104,000 in the previous year[114] - The Group's total liabilities included interest on bank borrowings of HK$7,390,000 for the six months ended June 30, 2020, down from HK$11,828,000 in 2019[116] - Depreciation of property, plant, and equipment increased to HK$1,200,000, compared to HK$836,000 in the previous year, reflecting a rise of 43.5%[114] Financial Instruments and Fair Value - The change in fair value of financial assets at fair value through profit or loss was HK$1,256,000, compared to HK$1,810,000 in the previous year, indicating a decrease of about 30%[12] - Fair value measurements for financial instruments are categorized into three levels based on the observability of inputs used[69] - Level 1 financial instruments are based on quoted market prices in active markets, while Level 2 and Level 3 rely on valuation techniques and unobservable inputs respectively[76][77] - The Group's financial assets at FVPL and FVOCI are determined using quoted market prices, ensuring ongoing assessment of estimates and assumptions[86] Segment Information - For the six months ended June 30, 2020, the segment revenue from sale and leaseback arrangements was HK$37,784,000, while total segment revenue was HK$38,601,000[92] - The segment results for the same period showed a profit of HK$27,837,000, compared to HK$26,034,000 for the six months ended June 30, 2019, indicating a year-over-year increase of approximately 6.9%[100] - Revenue from sale and leaseback arrangements for the six months ended June 30, 2020, was HK$28,286,000, compared to HK$15,479,000 in 2019, indicating a significant increase[181] Related Party Transactions - The Group's receivables under sale and leaseback arrangements from subsidiaries of Shougang Group amounted to HK$828,127,000 as of June 30, 2020, down from HK$984,612,000 on December 31, 2019[187] - The Group prepaid RMB67,000,000 (approximately HK$73,626,000) to a non-controlling shareholder related party for share capital reduction, with the balance being unsecured and interest-free[187] - The balance of HK$2,079,000 due from a related party was settled in July 2020, related to the disposal of property, plant, and equipment[185] Other Information - The Company’s Audit Committee and Auditor reviewed the interim results, ensuring the accuracy of the financial information presented[11] - No dividends were paid or declared during the six months ended June 30, 2020, and 2019[120] - The tax expense for the six months ended June 30, 2020, was HK$5,124,000, significantly higher than HK$2,082,000 in the same period of 2019[119] - The Group confirmed no impairment for cash-generating units related to sale and leaseback arrangements, asset management, and supply chain management services for the six months ended June 30, 2020[137] - Shougang Concord Grand focused on developing supply chain financial services in the steel industry, enhancing overall mobility of the industrial chain[199] - The company has made initial achievements in cost reduction and efficiency improvement, leading to an increase in income[200]

Financial Performance - Total revenue for the six months ended June 30, 2019, was HKD 30,991,000, a decrease of 44.5% compared to HKD 55,905,000 for the same period in 2018[12]. - Gross profit for the same period was HKD 21,369,000, down 29.2% from HKD 30,193,000 in 2018[12]. - The company reported a profit before tax of HKD 9,511,000, compared to a loss of HKD 55,329,000 in the previous year[12]. - Net profit for the period was HKD 7,429,000, a significant recovery from a loss of HKD 57,666,000 in 2018[12]. - Basic and diluted earnings per share for the period were HKD 0.05, compared to a loss of HKD 2.36 per share in the previous year[14]. - The company recorded a total comprehensive income of HKD 7,667,000 for the period, compared to a loss of HKD 92,733,000 in 2018[14]. - The group recorded a pre-tax profit of HKD 9,511,000 for the period, reflecting a significant decrease from the previous year's performance[71]. - The group reported a profit attributable to shareholders of HKD 2,015,000 for the six months ended June 30, 2019, compared to a loss of HKD 63,009,000 for the same period in 2018, marking a significant turnaround[91]. Assets and Liabilities - Non-current assets increased to HKD 504,615,000 as of June 30, 2019, from HKD 781,689,000 as of December 31, 2018[16]. - Current assets included receivables of HKD 1,069,389,000, up from HKD 806,150,000 in the previous period[16]. - As of June 30, 2019, the company's total assets amounted to HKD 1,937,757,000, an increase from HKD 1,896,748,000 as of December 31, 2018, representing a growth of approximately 2.2%[18]. - The net current assets increased to HKD 1,433,142,000 from HKD 1,115,059,000, reflecting a significant rise of about 28.5%[18]. - Total equity attributable to the company's owners reached HKD 1,386,560,000, compared to HKD 1,339,688,000 in the previous period, marking an increase of approximately 3.5%[18]. - Non-current liabilities decreased to HKD 259,852,000 from HKD 270,658,000, indicating a reduction of about 4%[20]. - The total liabilities for lease liabilities were HKD 6,246,000, with HKD 2,118,000 classified as current liabilities and HKD 4,128,000 as non-current liabilities[64]. - As of June 30, 2019, total liabilities amounted to HKD 585,924,000, a decrease from HKD 592,124,000 as of December 31, 2018, representing a reduction of approximately 1.8%[80]. Cash Flow - Net cash flow from operating activities for the six months ended June 30, 2019, was HKD 100,877,000, a decrease from HKD 273,703,000 in the same period of 2018[27]. - Net cash flow from investing activities for the six months ended June 30, 2019, was HKD 165,282,000, compared to HKD 12,772,000 in the previous year[27]. - Net cash used in financing activities for the six months ended June 30, 2019, was HKD 2,720,000, a significant improvement from HKD 61,779,000 in the same period of 2018[27]. - The total cash and cash equivalents at the end of the period was HKD 1,069,389,000, up from HKD 505,062,000 at the end of the previous year[27]. - The company experienced a net increase in cash and cash equivalents of HKD 263,439,000 during the reporting period[27]. - Cash and cash equivalents increased to approximately HKD 1,069,389,000 from HKD 806,150,000, primarily due to net cash generated from operating activities of approximately HKD 100,877,000 and proceeds from the sale of non-current assets of approximately HKD 154,792,000[173]. Segment Performance - The financing lease and other financial services segment reported revenue of HKD 28,425,000, while property leasing and building management services generated HKD 494,000[71]. - Revenue from financing leasing and other financial services decreased by approximately HKD 25,678,000 to about HKD 28,425,000, with segment profit recorded at approximately HKD 22,392,000, down from HKD 23,249,000[167]. - Asset management segment revenue was approximately HKD 2,072,000, with a profit of about HKD 158,000, a decrease from HKD 295,000, primarily due to increased resource allocation for business development[168]. - Revenue from property leasing and building management services decreased by approximately 73% to about HKD 494,000, with segment profit recorded at approximately HKD 3,484,000, down from HKD 6,461,000[170]. Strategic Initiatives and Future Outlook - Future outlook indicates a focus on market expansion and the development of new products and technologies to drive growth[23]. - The company is exploring potential mergers and acquisitions to enhance its market position and operational capabilities[23]. - Strategic initiatives are being implemented to improve overall operational efficiency and profitability moving forward[23]. Accounting Policies and Standards - The company adopted HKFRS 16 "Leases" for the first time, which may impact the accounting policies and financial position[31]. - The initial measurement of lease liabilities and the recognition of right-of-use assets will affect the financial statements moving forward[39]. - The company has maintained its accounting policies consistent with those used in the previous financial year, except for the adoption of new standards[30]. - The company recognized lease liabilities of HKD 6,246,000 upon the initial application of HKFRS 16 on January 1, 2019[54]. - The company applied the simplified approach under HKFRS 9 for measuring expected credit losses on trade receivables, ensuring compliance with accounting standards[124]. Shareholder Information - The number of ordinary shares outstanding increased to 4,008,289,000 as of June 30, 2019, up from 2,672,192,000 in the same period of 2018, representing an increase of approximately 49.8%[91]. - The total issued and fully paid shares increased to 4,008,288,703 as of June 30, 2019, from 2,672,192,469 shares at the beginning of 2018, representing a 49.7% increase due to a rights issue[127]. - The group did not recommend the payment of an interim dividend for the six months ended June 30, 2019, consistent with no dividend declared for the same period in 2018[90]. - The board did not declare an interim dividend for the six months ended June 30, 2019, consistent with the previous year[185]. Employee and Operational Information - The group had 45 full-time employees as of June 30, 2019, a decrease from 46 employees as of December 31, 2018[183].

Financial Performance - The company reported a comprehensive income of HKD 180 million for the fiscal year 2018, representing a 15% increase compared to the previous year[3]. - The company reported a revenue of HKD 96,623,000 for the year ended December 31, 2018, a decrease of approximately 12% compared to HKD 109,512,000 in 2017[86]. - The gross profit for the year was HKD 54,196,000, with a gross margin of 56%, an increase of 2% from 54% in 2017[86]. - The company recorded a loss attributable to shareholders of HKD 58,882,000, a significant increase of 420% from HKD 11,332,000 in the previous year[83]. - Total cash increased by 152% to HKD 806,150,000 from HKD 320,080,000 in 2017[83]. - Total assets decreased by 16% to HKD 2,218,214,000 from HKD 2,630,955,000 in 2017[83]. - Total liabilities decreased by 44% to HKD 592,124,000 from HKD 1,051,498,000 in 2017[83]. - Revenue from financing leasing and other financial services accounted for 97% of total revenue in 2018, while property leasing and management services contributed 3%[66]. - 98% of the group's revenue in 2018 was generated from mainland China, with only 2% from Hong Kong[68]. Strategic Initiatives - The company provided a revenue guidance for 2019, expecting a growth of 10% to 15% in total revenue, projecting between HKD 1.1 billion and HKD 1.15 billion[3]. - New product launches in 2018 included two innovative financial products, which contributed to a 30% increase in market penetration[3]. - The company is expanding its market presence in Southeast Asia, targeting a 20% market share by 2020[3]. - The company plans to invest HKD 100 million in digital transformation initiatives over the next two years[3]. - The group plans to deepen its focus on supply chain financial services for the steel industry while exploring opportunities in automotive, healthcare, and urban renewal sectors through joint ventures, investments, and acquisitions[73]. - The group aims to enhance supply chain transaction efficiency and reduce financial risk control costs through technology-driven financial services[73]. - The company plans to enhance its financial innovation capabilities to better serve the industry and expand its financial services business[78]. Research and Development - Research and development expenses increased by 12% in 2018, totaling HKD 50 million, focusing on technology enhancements[3]. - The company aims to leverage IoT and big data technology to enhance supply chain management services and improve transaction efficiency[89]. - The company has obtained all necessary licenses related to supply chain finance and is establishing a supply chain technology financial service platform[89]. Corporate Governance - The board consists of seven directors, including two executive directors, one non-executive director, and four independent non-executive directors[118]. - The board maintains a high level of independence, with over 50% of directors being independent[125]. - The company has implemented a board diversity policy, considering factors such as gender, age, cultural background, and professional experience[124]. - The board held 11 meetings during the fiscal year ending December 31, 2018, to consider various projects and review the group's mid-term and annual performance[136]. - The company emphasizes the importance of providing sufficient information to the board for informed decision-making regarding financial and other matters[139]. - The company has established a policy for the rotation of directors, ensuring that each director (except the chairman and CEO) must retire at least once every three years[141]. - Independent non-executive directors who have served on the board for over nine years must be re-elected by shareholders, ensuring ongoing accountability[147]. Stakeholder Engagement - The management highlighted a new strategy to improve customer engagement, aiming for a 40% increase in customer satisfaction scores by the end of 2019[3]. - The company is committed to enhancing gender diversity on the board by seeking suitable candidates[125]. - The company has purchased appropriate liability insurance for directors and senior officers to provide protection against risks associated with the group's business[152]. Acquisitions and Investments - The company completed a strategic acquisition of a fintech startup for HKD 200 million, expected to enhance its service offerings[3]. - On June 13, 2018, the company agreed to acquire a 41.41% stake in Beijing Service New Shougang for RMB 75,262,645.50, which is still pending completion[104]. - The company also agreed to acquire an 85.7143% stake in Shouhua Jingxi Collaborative Innovation for RMB 1,500,000, with the transaction already completed[105]. - The company increased its stake in Jingxi Supply Chain from 10% to 70% by agreeing to contribute an additional RMB 200,000,000, which is still pending completion[106]. - The company completed a capital injection of RMB 10,000,000 into Jingxi Supply Chain to acquire a 10% stake[106]. - The group signed a credit agreement totaling RMB 5 billion with Shougang Group to support business expansion[74]. Financial Position - As of December 31, 2018, total loans amounted to HKD 494,541,000, with current loans at HKD 238,859,000 and non-current loans at HKD 255,682,000[101]. - The group's cash and cash equivalents increased to approximately HKD 806,150,000 from HKD 288,221,000 in the previous year, primarily due to net cash generated from operating activities of approximately HKD 649,430,000[100]. - The financial debt ratio was not applicable for the current year, while it was 36% in the previous year[97]. - The current ratio improved to 447% from 184% in the previous year, indicating better liquidity[97]. Human Resources - The company employed 46 full-time employees as of December 31, 2018, down from 51 employees the previous year[113]. - The company recognizes the contributions of independent non-executive directors who have served for over nine years and supports their re-election based on their extensive experience and understanding of the business[148].