Financial Performance - The overall revenue for the group in 2024 was HKD 947 million, a decrease of 27% compared to HKD 1,297 million in 2023, primarily due to a sluggish real estate market and intense competition in the property agency sector [17]. - The property agency business generated approximately HKD 924 million in revenue in 2024, down from HKD 1,251 million in 2023 [18]. - The financial services segment reported revenue of about HKD 23 million in 2024, compared to HKD 44 million in 2023 [19]. - For the fiscal year ending December 31, 2024, the group reported revenue of approximately HKD 947 million, a decrease of about 27% compared to HKD 1,295 million in the previous year [38]. - The group incurred a loss attributable to shareholders of approximately HKD 280 million, an improvement from a loss of HKD 531 million in the previous year [38]. - The property agency business segment generated revenue of approximately HKD 924 million, accounting for 98% of the group's total revenue, down from HKD 1,251 million in the previous year [38]. - The financial services segment reported revenue of approximately HKD 23 million, representing 2% of the group's total revenue, down from HKD 44 million in the previous year [38]. Market Environment - The real estate market in mainland China experienced a decline in sales area and sales value by 12.9% and 17.1% respectively in 2024, reflecting a challenging market environment [17]. - National real estate development investment decreased by 10.6% year-on-year, with construction area and funds in place dropping by 12.7% and 17.0% respectively [37]. - The overall market environment in 2024 was characterized by weak domestic demand and structural contradictions in the real estate sector [37]. - The company is committed to a slow recovery in the market supported by increasing policy measures [37]. Strategic Initiatives - The group has established partnerships with over 40 well-known developers, including Vanke and Poly, to enhance its market position in the domestic real estate service sector [11]. - The group is actively pursuing digital transformation by integrating mobile networks and online services with traditional service models [13]. - The group aims to leverage government policies aimed at stabilizing the market, including optimizing purchase restrictions and lowering down payment ratios, to create new business opportunities [17]. - The company adjusted its operational strategy to optimize cost structure and focus on core cities to maintain market competitiveness amid challenging market conditions [37]. - The company aims to stabilize development and expand diversified business while enhancing the efficiency of its main operations [37]. Corporate Governance - The company has adopted corporate governance practices in line with the Hong Kong Stock Exchange's Corporate Governance Code, aiming to maintain high standards of business ethics [65]. - The board of directors is committed to enhancing corporate governance and has confirmed compliance with the Corporate Governance Code for the year ending December 31, 2024 [66]. - The board consists of a mix of executive, non-executive, and independent non-executive directors, all of whom have confirmed their independence [68]. - The board held 4 meetings and 3 shareholder meetings in the fiscal year ending December 31, 2024, with full attendance from most directors [71]. - The audit committee, composed of three independent non-executive directors, held 4 meetings during the fiscal year and reviewed the financial reporting procedures and internal controls [80][81]. - The board regularly reviews its structure and composition to maintain high standards of corporate governance [74]. Risk Management - The company has established a risk management and internal control system, which is regularly reviewed by the board [72]. - The board is responsible for the company's risk management and internal control systems, which are reviewed annually for effectiveness [102]. - The company faces various risks and uncertainties that could impact its financial condition and operational performance, particularly related to economic and political developments in China [129]. Environmental, Social, and Governance (ESG) - The company has implemented an environmental policy aimed at reducing resource consumption and promoting recycling [174]. - The board has confirmed the effectiveness of environmental and social policies, with a target to reduce greenhouse gas emissions by approximately 5% by 2025 [187]. - The company has conducted discussions to assess the importance of various ESG issues, leading to action plans for improvement [188]. - The report provides quantitative data on the company's ESG performance, with calculation methods described in relevant sections [189]. - The company generated a total greenhouse gas emission of approximately 1,383 tons of CO2 equivalent in the fiscal year ending December 31, 2024, a decrease from 2,333 tons in 2023 [200]. Employee and Stakeholder Relations - The company emphasizes the importance of maintaining good relationships with employees, customers, and business partners for sustainable development [126]. - The company maintains regular communication with stakeholders to address their concerns and expectations regarding corporate governance and shareholder rights [194]. - The company’s focus on customer satisfaction and privacy protection is evident in its communication channels with clients [194].

Financial Performance - Total revenue for the year ending December 31, 2024, was HKD 947,435,000, a decrease from HKD 1,294,513,000 in the previous year, representing a decline of approximately 26.8%[2] - Other income for the same period was HKD 16,185,000, down from HKD 20,381,000, reflecting a decrease of about 20.0%[2] - The company reported a loss before tax of HKD 279,410,000, compared to a loss of HKD 594,160,000 in the previous year, indicating an improvement of approximately 52.9%[2] - The net loss for the year was HKD 273,593,000, compared to a net loss of HKD 529,418,000 in the previous year, showing a reduction of about 48.3%[3] - The basic and diluted loss per share was HKD 41.5, compared to HKD 78.8 in the previous year, indicating a decrease of approximately 47.3%[3] - The total comprehensive expenses for the year amounted to HKD 340,361,000, compared to HKD 638,325,000 in the previous year, indicating a decrease of about 46.5%[3] - The company reported a significant reduction in financing costs, which were HKD 13,592,000, down from HKD 26,242,000, representing a decrease of approximately 48.2%[2] - The company reported a loss before tax of HKD 594,160,000 for the year ended December 31, 2024, compared to a loss of HKD 279,410,000 in the previous year, indicating a deterioration in financial performance[18] - The cost of financing for the year was HKD 26,242,000, up from HKD 13,592,000 in the previous year, reflecting an increase of approximately 93.5%[19] - The company incurred a loss from the sale of subsidiaries amounting to HKD 18,914,000 during the year, which is a significant increase from the previous year's loss of HKD 6,904,000[18] Revenue Breakdown - The company's revenue for the year was HKD 1,294,513,000, an increase from HKD 947,435,000 in the previous year, representing a growth of approximately 37%[10] - The revenue from property agency services was HKD 1,250,506,000, up from HKD 923,849,000, indicating a growth of about 35%[12] - Financial services income increased to HKD 5,218,000 from HKD 2,724,000, reflecting a growth of approximately 92%[12] - Interest income from receivables rose to HKD 38,789,000, compared to HKD 20,862,000, marking an increase of around 86%[12] - The property agency business generated approximately HKD 924 million in revenue, accounting for 98% of the group's total revenue, while the financial services segment contributed approximately HKD 23 million, representing 2% of total revenue[41] Assets and Liabilities - Total assets decreased from HKD 1,409,611,000 to HKD 1,792,608,000, reflecting a change of approximately 27.1%[4] - Current assets increased from HKD 763,080,000 to HKD 1,150,154,000, representing a growth of about 50.8%[4] - Total liabilities increased from HKD 329,356,000 to HKD 352,458,000, indicating a rise of approximately 7%[4] - The company's cash and cash equivalents rose from HKD 210,526,000 to HKD 298,659,000, marking an increase of around 41.8%[4] - The company's equity attributable to owners increased from HKD 1,279,068,000 to HKD 1,603,889,000, which is an increase of approximately 25.3%[4] - The company's non-current liabilities decreased from HKD 119,733,000 to HKD 181,694,000, reflecting a decline of about 51.5%[4] Employee Costs - Total employee costs for the year were HKD 775,460,000, compared to HKD 1,019,049,000 in the previous year, showing a decrease in employee-related expenses[21] - The company incurred HKD 702,694,000 in other employee costs, up from HKD 909,459,000 in the previous year, indicating a reduction in this expense category[21] - The group employed around 4,000 full-time employees as of December 31, 2024, emphasizing the importance of its workforce as a valuable asset[53] Stock Options and Corporate Governance - The stock option plan adopted on May 23, 2023, aims to attract and retain top employees, with a validity of 10 years[28] - A total of 67,380,000 shares can be purchased under the stock option plan, with specific vesting conditions tied to performance metrics[33] - The exercise price for the stock options is set at HKD 1.85 per share, valid for 10 years from the grant date[34] - The maximum number of shares that can be issued under the stock option plan is capped at 10% of the company's issued share capital as of the adoption date, equating to 67,414,998 shares[31] - The stock options are contingent upon the participants continuing to serve the group from the grant date until the specified exercise date[33] - The board has the discretion to set shorter vesting periods under certain circumstances[29] - The company has adhered to the corporate governance code and has appointed a qualified company secretary to ensure compliance with applicable laws and regulations[62] - The board of directors consists of executive directors Fu Wei Cong and Lu Yi Feng, along with non-executive directors Fu Er Li, Li Bo, and Li Fu Qiang, and independent non-executive directors Lin Jing Pei, Cao Qi Meng, and Xu Jing[67] Future Plans and Market Strategy - The company plans to focus on market expansion and new product development in the upcoming fiscal year[2] - The company plans to continue expanding its services in the property and financial sectors[10] - The group aims to explore the application of AI technology in market research, strategic consulting, property valuation, and risk control to enhance operational efficiency and service quality[47] - The group will continue to focus on optimizing cost structures and improving management processes to achieve cost reduction and efficiency enhancement[47] - The group plans to benefit from the government's recent policies aimed at stimulating the real estate market, with expectations of a recovery in housing transactions in 2025[46] Dividends and Share Repurchase - The company does not recommend any dividend payment for the year ending December 31, 2024, similar to the previous year[22] - The company did not recommend the payment of a final dividend for the year ended December 31, 2024, consistent with the previous year[56] - The company has not repurchased any shares since its listing and has no treasury shares as of December 31, 2024[59]

Financial Performance - Revenue for the six months ended June 30, 2024, was HKD 422,038 thousand, a decrease of 39.7% compared to HKD 699,901 thousand in the same period of 2023[2] - The company reported a loss before tax of HKD 117,183 thousand, improving from a loss of HKD 178,169 thousand in the prior year, representing a 34.2% reduction in losses[2] - Total comprehensive expenses for the period amounted to HKD 155,697 thousand, down from HKD 277,784 thousand, indicating a 43.8% decrease[3] - Basic and diluted loss per share was HKD 17.50, an improvement from HKD 22.50 in the previous year[3] - The company reported a net loss of HKD (38,106) thousand for the period, compared to a net profit of HKD 678 thousand in the same period last year[8] - The group reported a loss attributable to shareholders of approximately HKD 118 million, an improvement from a loss of HKD 152 million in the previous year[51] Revenue Breakdown - Revenue from property agency services was HKD 404,543 thousand, down 40% from HKD 672,573 thousand in the previous year[15] - The group's property agency business revenue was approximately HKD 405 million, accounting for 96% of total revenue, while the financial services segment generated about HKD 17 million, representing 4% of total revenue[51] Asset and Liability Management - Non-current assets as of June 30, 2024, totaled HKD 686,203 thousand, compared to HKD 642,454 thousand as of December 31, 2023, reflecting a 6.8% increase[4] - Current assets decreased to HKD 577,097 thousand from HKD 1,502,612 thousand, indicating a significant reduction in liquidity[4] - Total liabilities decreased to HKD 211,378 thousand from HKD 181,694 thousand, showing a 16.3% increase in liabilities[5] Cost Management - The company is focusing on cost reduction strategies, as evidenced by a decrease in selling expenses from HKD 601,817 thousand to HKD 411,526 thousand, a reduction of 31.7%[2] - The total employee costs for the six months ended June 30, 2024, were HKD 395,767,000, down 22.8% from HKD 512,176,000 in the previous year[23] - The financial costs decreased to HKD 8,502,000 in the first half of 2024 from HKD 16,372,000 in the same period of 2023[21] - The company recorded a provision for impairment of financial assets of HKD 21,817,000 for the first half of 2024, down from HKD 34,524,000 in the previous year[23] Cash Flow and Liquidity - The net cash used in operating activities for the six months was HKD (42,840) thousand, compared to HKD 41,322 thousand in the same period last year[9] - The cash and cash equivalents at the end of the period were HKD 210,646 thousand, down from HKD 317,980 thousand at the end of the previous period[9] - As of June 30, 2024, the group maintained a healthy financial position with cash and bank deposits of approximately HKD 211 million, down from HKD 299 million as of December 31, 2023[57] Future Outlook - Future outlook remains cautious due to market conditions, with ongoing efforts in product development and market expansion strategies[2] - The group plans to enhance digitalization and artificial intelligence investments to improve service efficiency and customer experience[56] - The company aims to enhance its market presence and explore new strategies for growth in the upcoming periods[12] Share Options and Ownership - The company adopted a share option scheme on May 23, 2023, allowing for the issuance of options up to 10% of the issued share capital at the time of adoption, which is 67,414,998 shares[43] - A total of 67,380,000 share options were granted under the scheme, with 30,340,000 options having lapsed as of June 30, 2024[45] - The exercise price for the share options is set at HKD 1.85 per share, with a total of 33,670,000 options available for issuance as of June 30, 2024[48] - The total number of lapsed share options as of June 30, 2024, is 33,710,000, resulting in a transfer of approximately HKD 15,916,000 from special reserves[48] - The company has a significant concentration of ownership, with several shareholders holding over 25% of the issued shares[72] Corporate Governance - The company has maintained compliance with the corporate governance code and has appointed a qualified company secretary to ensure adherence to applicable laws and regulations[77] - The company has confirmed that all directors have complied with the standard code of conduct regarding securities trading during the reporting period[77] - The company has not made any arrangements that would allow directors to benefit from purchasing shares or bonds of the company or any other entity during the reporting period[71]

Financial Performance - For the six months ended June 30, 2024, the company reported total revenue of HKD 422,038,000, a decrease of approximately 39.8% compared to HKD 699,901,000 for the same period in 2023[1]. - The company incurred a loss before tax of HKD 117,183,000, compared to a loss of HKD 178,169,000 in the prior year, indicating an improvement of approximately 34.2%[1]. - The total comprehensive loss for the period was HKD 155,697,000, down from HKD 277,784,000 in the same period last year, reflecting a reduction of about 43.9%[2]. - Basic and diluted loss per share improved to HKD 17.50 from HKD 22.50, indicating a reduction in loss per share of approximately 22.2%[2]. - The group reported a total loss for the group for the six months ended June 30, 2024, was HKD 117,277,000, compared to a loss of HKD 151,050,000 for the same period in 2023, indicating an improvement in performance[12]. - The group reported a loss attributable to shareholders of approximately HKD 118 million, compared to a loss of HKD 152 million in the same period last year[32]. Revenue Breakdown - The revenue from property agency services was HKD 404,543,000 for the six months ended June 30, 2024, down from HKD 672,573,000 in the same period of 2023, indicating a decrease of about 40%[11]. - Interest income from receivables was HKD 17,495,000 for the six months ended June 30, 2024, compared to HKD 27,328,000 for the same period in 2023, reflecting a decline of approximately 36.1%[12]. - The financial services segment generated revenue of HKD 17,495,000 for the six months ended June 30, 2024, down from HKD 27,328,000 in the same period of 2023, a decrease of about 36.1%[12]. - The property agency business generated revenue of approximately HKD 405 million, accounting for 96% of the group's total revenue, down from HKD 673 million last year[32]. - The financial services segment reported revenue of approximately HKD 17 million, representing 4% of the group's total revenue, down from HKD 27 million last year[32]. Assets and Liabilities - The company's non-current assets decreased to HKD 102,013,000 from HKD 120,377,000 year-over-year, representing a decline of approximately 15.2%[3]. - Current liabilities decreased to HKD 270,143,000 from HKD 352,458,000, showing a reduction of about 23.3%[4]. - The company's total assets decreased to HKD 1,679,556,000 from HKD 1,792,608,000, a decline of approximately 6.3%[4]. - The company's total equity attributable to owners decreased to HKD 1,468,178,000 from HKD 1,610,914,000, a decline of about 8.8%[4]. - The group maintained a healthy financial position with cash and bank deposits of approximately HKD 211 million, down from HKD 299 million as of December 31, 2023[38]. - Total borrowings amounted to approximately HKD 140 million, a decrease from HKD 167 million as of December 31, 2023, with a capital debt ratio of about 7.2%[38]. Employee and Operational Costs - Total employee costs for the six months ended June 30, 2024, were HKD 395,767,000, down from HKD 512,176,000 in the same period of 2023, indicating a decrease of about 23%[15]. - Interest expenses from bank and other borrowings decreased to HKD 5,264,000 for the six months ended June 30, 2024, compared to HKD 9,263,000 for the same period in 2023, representing a reduction of approximately 43%[13]. - The total lease liabilities decreased to HKD 3,238,000 for the six months ended June 30, 2024, from HKD 7,109,000 in the same period of 2023, indicating a decline of approximately 54%[13]. Strategic Initiatives - The group plans to continue optimizing resource allocation and enhancing operational efficiency in response to market changes[33]. - The group is focusing on digitalization and information technology to provide diversified services to clients and expand online customer sources[33]. - The group is committed to strict risk control and adjusting its strategies in the financial services sector to adapt to market and regulatory changes[34]. - The group plans to enhance digitalization and artificial intelligence investments to improve service efficiency and customer experience[36]. - The group aims to integrate resources and optimize service systems to support transactions in both new and second-hand housing markets[36]. Governance and Compliance - The group has established an audit committee consisting of three independent non-executive directors to review the unaudited interim results[37]. - The group did not experience significant impacts on its performance and financial position from the new accounting standards adopted during the reporting period[6]. - There were no significant transactions with related parties during the reporting period, consistent with the previous year[23]. Stock Options and Dividends - The company does not recommend the payment of any dividends for the six months ended June 30, 2024, consistent with the previous year[16]. - The company adopted a stock option plan on May 23, 2023, to attract and retain top employees, with a validity of 10 years[24]. - The maximum number of shares that can be issued under the stock option plan is capped at 10% of the company's issued share capital as of the adoption date, equating to 67,414,998 shares[25]. - As of June 16, 2023, the company granted stock options allowing holders to purchase a total of 67,380,000 shares, subject to certain performance conditions[26]. - By June 30, 2024, 30,340,000 stock options granted to a specific individual have lapsed[26]. - The exercise price for the stock options is set at HKD 1.85 per share, with a total of 33,670,000 shares available for issuance as of June 30, 2024[28]. - The total number of stock options granted under the plan represents approximately 4.99% of the weighted average number of shares issued, compared to 9.99% in 2023[28].

Loan Clients and Types - The group has a total of 927 loan clients, consisting of 907 personal loans and 20 corporate loans[18]. - Among the secured loans, there are 14 secured by property and 7 secured by project collateral[18]. - The company has provided secured and unsecured loans to a total of 927 customers as of December 31, 2023[30]. Credit Risk Management - The credit risk management system includes a multi-level assessment and approval process for loan applications[3]. - The credit risk assessment policy includes ongoing monitoring of loan recoverability and collection strategies[25]. - The group has established a credit risk assessment system that involves extensive documentation review and due diligence procedures[26]. - The group has implemented appropriate collection actions based on client consultations, including legal proceedings and loan restructuring arrangements[29]. - As of December 31, 2023, the company recorded a loan impairment loss of approximately HKD 235 million, with about HKD 222 million classified as Stage 3 due to negative impacts from the pandemic and adverse market conditions[32]. Funding and Client Focus - The group primarily funds its lending business through internal resources[10]. - The group focuses on high-net-worth and reputable clients for personal loans, including executives, businessmen, and professionals[24]. Share Option Plan - The group has adopted a stock option plan allowing for the issuance of up to 67,414,998 shares, representing approximately 10% of the company's issued share capital[21]. - The total number of shares available for issuance under the share option plan is 67,380,000 shares, representing approximately 9.99% of the weighted average number of shares issued for the year ended December 31, 2023[33]. Interest Rate Management - The group regularly reviews market interest rates and regulatory updates to adjust loan rates accordingly[7].

Financial Performance - The company reported a total revenue of HKD 3,479,216 thousand for the year ending December 31, 2023, compared to HKD 3,269,309 thousand in 2022, reflecting an increase of approximately 6.4%[4] - In 2023, the group's revenue was approximately HKD 1,295,000,000, a decrease of about 15% compared to HKD 1,517,000,000 in 2022[26] - The group reported a loss attributable to shareholders of approximately HKD 531,000,000, compared to a loss of HKD 580,000,000 in 2022[26] - The property agency business revenue was approximately HKD 1,251,000,000, down from HKD 1,426,000,000 in 2022, accounting for about 97% of total revenue[26] - The financial services segment generated revenue of approximately HKD 44,000,000, down from HKD 91,000,000 in 2022, accounting for about 3% of total revenue[32] Business Operations - Property agency services accounted for 94% of the total revenue in 2023, maintaining a strong focus on this core business segment[5] - The company aims to expand its agency projects across various regions to strengthen its leading position in the domestic real estate service market[7] - The company has established partnerships with over 50 cities and is collaborating closely with major developers such as Vanke and China Overseas Land & Investment[7] - The company has a comprehensive service network covering major cities in China, enhancing its market reach and operational capabilities[11] - The group has over 900 agency projects covering more than 50 cities nationwide, with approximately 110 branches for second-hand properties[32] Management and Governance - The management team includes experienced professionals with over 28 years of experience in real estate development and related businesses[13] - The audit committee, consisting of independent non-executive directors, has reviewed the audited financial statements for the year ending December 31, 2023[17] - The company has no established corporate governance committee; the board is responsible for governance functions, including policy formulation and compliance[52] - The company’s governance policies and practices are regularly reviewed to ensure compliance with legal and regulatory requirements[52] - The board's focus includes long-term goals, overall strategy, and monitoring financial and operational performance[51] Financial Position - The group maintains a strong financial position with cash and bank deposits of approximately HKD 299 million as of December 31, 2023, down from HKD 394 million in 2022[38] - The current ratio is 4.26, an increase from 3.72 in 2022, indicating improved liquidity[38] - Total borrowings amount to approximately HKD 167 million, a decrease from HKD 232 million in 2022[38] - The capital debt ratio is approximately 7.8%, slightly up from 7.6% in 2022, reflecting stable leverage[38] Strategic Plans - The group plans to solidify its new housing business and optimize its layout and scale in Guangzhou and the Greater Bay Area in 2024[35] - The group aims to enhance its existing transaction, value research, and assessment businesses, focusing on better synergy between primary and secondary markets[35] - The group is committed to leveraging technology and developing new media businesses to enhance its offline transaction services and expand resource integration[36] Environmental, Social, and Governance (ESG) - The company has implemented various environmental and social policies to support sustainable development[164] - The company aims to maintain greenhouse gas emissions, non-hazardous waste, and resource usage at the same level as 2023, with a reduction target of approximately 5% for 2024[167] - Total greenhouse gas emissions for the year amounted to approximately 2,333 tons of CO2 equivalent, a decrease from 4,414 tons in 2022[183] - The company has established a working group to collect relevant ESG data and report to the board on the effectiveness of internal controls and risk management[167] - The company engages with stakeholders through various channels to understand their concerns and expectations regarding financial performance and business development[176] Shareholder Information - The company has a dividend policy approved in 2019, aimed at enhancing transparency for shareholders[78] - The company did not recommend the distribution of a final dividend for the year ending December 31, 2023, consistent with the previous year where no dividend was declared[105] - The company has established a shareholder communication policy, which will be regularly reviewed by the board to ensure its effectiveness[98] - The company’s articles of association allow shareholders to propose resolutions at special general meetings, subject to specific procedures[96] Employee Relations - The company recognizes the importance of maintaining good relationships with employees, customers, and business partners for sustainable development[109] - The group has approximately 5,300 full-time employees, emphasizing the importance of competitive compensation based on individual roles and performance[41] - The company has established a compensation policy based on employee performance, experience, and current market rates[150] Risk Management - The board reviews the effectiveness of risk management and internal control systems annually[85] - The internal audit department was established in 2006 to ensure compliance with group policies and procedures[84] - The company faces various financial risks, which are detailed in the consolidated financial statements[114]

Financial Performance - Total revenue for the year ended December 31, 2023, was HKD 1,294,513,000, a decrease from HKD 1,516,862,000 in the previous year, representing a decline of approximately 14.7%[2] - The company reported a loss from continuing operations of HKD 530,950,000 for the year, compared to a loss of HKD 246,020,000 in the previous year, indicating an increase in losses of about 115.5%[5] - Basic and diluted loss per share from continuing and discontinued operations was HKD 78.8 cents, compared to HKD 86.1 cents in the previous year, showing a slight improvement[7] - The company incurred a pre-tax loss of HKD 594,160,000, up from HKD 328,832,000 in the previous year, reflecting a worsening of approximately 80.7%[14] - Total comprehensive expenses for the current year amounted to HKD 638,325,000, down from HKD 944,829,000 in the previous year, reflecting a decrease of about 32.4%[18] - The profit/loss from continuing operations for the current year was HKD 1,532,000, a significant improvement from a loss of HKD 104,981,000 in the previous year[19] - The company reported a loss of HKD 529,418,000 for the current year, compared to a loss of HKD 748,367,000 in the previous year, indicating a reduction in losses by approximately 29.3%[16] - The total comprehensive income for the year was reported as HKD (108,907,000), compared to HKD (196,462,000) in the previous year, showing an improvement in comprehensive income[18] Assets and Liabilities - Total assets as of December 31, 2023, were HKD 1,792,608,000, down from HKD 2,559,154,000 in the previous year, a decrease of about 30%[8] - The company’s total liabilities decreased to HKD 352,458,000 from HKD 491,866,000, a reduction of approximately 28.3%[8] - The company’s cash and cash equivalents decreased to HKD 298,659,000 from HKD 393,966,000, a decline of approximately 24.2%[8] - The company recognized a provision for bad debts amounting to HKD 259,613,000 in 2023, compared to a reversal of HKD 59,731,000 in 2022[75] - The company’s total liabilities decreased from HKD 48,657,000 in 2022 to HKD 26,242,000 in 2023[72] Revenue Segments - The company is involved in property agency services and financial services, with total revenue from property agency services reported at HKD 1,419,017,000 for the year[32] - The financial services segment generated revenue of HKD 91,027,000, maintaining a stable contribution to overall income[32] - Total revenue for the year ended December 31, 2023, was HKD 4,309,528,000, with a significant portion coming from property agency services at HKD 1,425,835,000[45] - Revenue from continuing operations was HKD 1,294,513,000, while discontinued operations contributed HKD 2,792,666,000[45] - The financial services segment generated revenue of HKD 44,007,000, indicating a need for strategic improvements[53] - The group's property agency business revenue decreased from approximately 1,426 million HKD in 2022 to about 1,251 million HKD in 2023, accounting for approximately 97% of the total revenue[118] - The financial services segment's revenue was approximately 44 million HKD in 2023, down from about 91 million HKD in 2022, representing around 3% of the total revenue[123] Operational Strategies - The group plans to enhance its market expansion strategies to improve revenue streams in the upcoming fiscal year[44] - The company is focusing on new product development and technology advancements to drive future growth[44] - The group aims to optimize its operational efficiency to reduce the overall cost burden, particularly in central administration[53] - The group plans to enhance its existing transaction, value research, and evaluation businesses in 2024, focusing on better synergy between new and second-hand businesses[127] - The group is actively developing new media business and collaborating with internet companies to enhance its offline transaction services[96] - The group has implemented management improvements aimed at enhancing efficiency and reducing costs, despite the ongoing market adjustments[120] Market Conditions - In 2023, the real estate industry experienced a significant downturn, with national commercial housing sales area declining by approximately 17.7% to 1.12 billion square meters, and sales amount dropping by about 12.5% to 11.7 trillion yuan[116] - The central and local governments have introduced various supportive policies to stabilize the real estate market, including relaxing purchase and loan restrictions in major cities[126] - The group anticipates that 2024 will be a year of recovery for the domestic real estate market, with supply-demand imbalances expected to ease further[126] Corporate Governance - The company has appointed Mr. Lau Hang Wong as the company secretary, which is expected to enhance compliance with applicable laws and regulations[139] - The board of directors confirmed full compliance with the standards set out in the Listing Rules Appendix C3[141] - The audit committee, composed of three current independent non-executive directors, has reviewed the annual financial statements for the year ended December 31, 2023[144] Employee and Compensation - The group has approximately 5,300 full-time employees, emphasizing the importance of competitive compensation packages[100] - Total employee costs for the year amounted to HKD 1,019,049,000, down from HKD 1,339,405,000 in the previous year[75] Dividends and Share Options - The company did not recommend the payment of a final dividend for the year ending December 31, 2023, consistent with the previous year[57] - A stock option plan was adopted on May 23, 2023, allowing for the issuance of options not exceeding 10% of the company's issued share capital[108][109] - The fair value of share options granted under the plan was approximately HKD 41,648,000, based on an exercise price of HKD 1.85 per share[84]

Financial Performance - Revenue for the six months ended June 30, 2023, was HKD 699,901,000, a decrease of 76.4% compared to HKD 2,973,645,000 for the same period in 2022[2] - The company reported a loss before tax of HKD 178,169,000, significantly improved from a loss of HKD 641,650,000 in the previous year, representing a reduction of 72.2%[2] - The net loss for the period was HKD 151,050,000, compared to a net loss of HKD 663,875,000 in the same period last year, indicating a 77.3% improvement[2] - Total comprehensive loss for the period was HKD 277,784,000, down from HKD 814,090,000 in the previous year, reflecting a decrease of 65.8%[2] - The company incurred a financial asset impairment provision of HKD 109,289,000, compared to HKD 19,918,000 in the previous year, marking a significant increase[2] - Sales expenses for the period were HKD 601,817,000, down from HKD 3,049,435,000, a reduction of 80.3%[2] - Administrative expenses decreased to HKD 158,690,000 from HKD 328,760,000, a decline of 51.8%[2] - The company reported a foreign exchange loss of HKD 126,734,000, compared to a loss of HKD 150,215,000 in the previous year, showing a slight improvement[2] - The company reported a loss of HKD 814,090,000 for the period, reflecting ongoing financial challenges[196] - Total comprehensive expenses amounted to HKD 2,347,922,000, indicating substantial operational costs[199] Assets and Liabilities - As of June 30, 2023, total assets were HKD 2,183,995,000, down from HKD 2,559,154,000 at the end of the previous year[23] - The company’s equity attributable to owners was HKD 1,944,226,000, a decrease from HKD 2,234,034,000 in the previous year[23] - As of June 30, 2023, the company's cash and bank deposits were approximately HKD 318 million, down from HKD 394 million as of December 31, 2022[102] - The total borrowings amounted to approximately HKD 185 million, a decrease from approximately HKD 232 million as of December 31, 2022[102] - The company's capital debt ratio was approximately 7.3%, slightly down from 7.6% as of December 31, 2022[102] - As of June 30, 2023, the group has mortgaged investment properties and equipment valued at approximately HKD 33 million to secure bank loans, compared to HKD 35 million as of December 31, 2022[116] Market Performance - The total housing sales amount for the first half of 2023 was approximately HKD 69.5 billion, an increase of about 8% compared to HKD 64.5 billion in the same period last year[98] - The total housing sales area for the same period was approximately 3 million square meters[98] - The overall real estate market in mainland China saw a decline in sales area of approximately 5% year-on-year, totaling around 600 million square meters in the first half of 2023[110] - The real estate development sentiment index fell again in June, indicating a continued cautious attitude among homebuyers[110] Strategic Initiatives - The company plans to expand its market share and business revenue in Guangdong Province[101] - The company aims to establish an effective operational review mechanism and a complete authorization approval process to ensure timely and accurate decision-making[101] - The company will focus on risk control as a key operational principle and closely monitor changes in the financial environment and market[100] - The group aims to enhance operational efficiency and service levels in response to changing supply-demand dynamics in the real estate market[114] - The company plans to leverage its strengths in Guangzhou to create a favorable business environment[114] - The group is committed to ensuring stable operations and achieving a smooth transition to a mature development phase[114] Corporate Governance - The company did not declare an interim dividend for the six months ended June 30, 2023, consistent with the previous year[117] - The existing stock option plan authorized the issuance of 67,380,000 shares, representing 9.99% of the company's issued shares as of the date of the mid-term report[128] - Major shareholder Fu holds 195,616,312 shares, representing 29.02% of the company's issued capital[130] - The company has appointed a practicing lawyer as the company secretary to ensure compliance with applicable laws and regulations[137] - The company has not repurchased any shares since its listing date, nor have any subsidiaries bought or sold shares[149] - The company has adopted the corporate governance code as per the listing rules and confirmed full compliance with the standards[152] - The roles of Chairman and CEO were separated on May 24, 2023, to comply with corporate governance standards[154] - The company has confirmed that all directors have complied with the corporate governance code during the reporting period[152] - The company has not disclosed any significant changes in shareholdings or interests as of June 30, 2023[148] Stock Options and Performance Targets - The company has set performance targets for stock options to be realized by December 31, 2023, with 70% and 40% of shares allocated to the first and second batches of grantees, respectively[123] - The company has set performance targets for the fiscal year ending December 31, 2024, with stock options vesting based on achieving these targets[141] - As of June 30, 2023, the company reported a total of 168,537,497 shares registered under a subsidiary[146] - The company has a total of 112,418,263 shares registered under China-net Holding Ltd., fully owned by a major shareholder[146] Operational Challenges - The company reported a decrease in financial business performance compared to the same period last year due to various macroeconomic constraints[100] - The operational performance analysis indicates a significant decline in revenue across various segments, necessitating strategic reassessment[184] - The company incurred a loss during the period, with financing costs reported at HKD 487,174,000[187]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容 概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對 因本公告全部或任何部分內容而產生或因倚賴該等內容而引致的任何損 失承擔任何責任。 HOPEFLUENT GROUP HOLDINGS LIMITED 合 富 輝 煌 集 團 控 股 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：733） 截 至 二 零 二 三 年 六 月 三 十 日 止 六 個 月 之 中 期 業 績 合富輝煌集團控股有限公司（「本公司」）董事（「董事」）會欣然公佈本公司及 其附屬公司（統稱「本集團」）截至二零二三年六月三十日止六個月之未經 審核綜合中期業績，連同二零二二年同期之比較數字如下： 簡明綜合損益及其他全面收入報表 截至二零二三年六月三十日止六個月 截至六月三十日止六個月 二零二三年 二零二二年 附註 千港元 千港元 （未經審核） （未經審核） 收益 3 699,901 2,973,645 其他收入 8,098 13,826 銷售開支 (601,817) (3,049,435) 行政開支 (158,690) (328,760) 金融資產之 ...

香港交易及結算所有限公司以及香港聯合交易所有限公司（「聯交所」）對本公告的 內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因 本公告全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何 責任。 HOPEFLUENT GROUP HOLDINGS LIMITED 合 富 輝 煌 集 團 控 股 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：733） 補充公告 有關截至二零二二年十二月三十一日止年度年報 茲提述合富輝煌集團控股有限公司（「本公司」，連同其附屬公司為「本集團」）於二 零二三年四月二十五日所刊發截至二零二二年十二月三十一日止年度年報（「二零 二二年年報」）。除文義另有所指外，本公告所用詞彙與二零二二年年報所界定者 具有相同涵義。 除二零二二年年報所披露資料外，本公司董事（「董事」）會（「董事會」）謹此提供有 關本集團金融服務業務的額外資料如下： (i) 客戶規模及多元化 截至二零二二年十二月三十一日止年度，本集團金融服務業務集中服務現有 經篩選的客戶及房地產公司。 ...