IPO Market Performance - For the six months ended June 30, 2023, the Group reported a significant decline in global IPO activity, with the number of deals down approximately 10% year on year and total fundraising decreasing by around 40%[13]. - Hong Kong's IPO market was particularly sluggish, with only 29 IPOs raising a total of HK$17.8 billion, marking a 20-year low in fundraising and dropping the city's international ranking for IPOs to ninth place[14]. - In Hong Kong, about 100 companies are expected to be listed in 2023, with total IPO fundraising projected to reach HK$150-170 billion[42][44]. Financial Performance - The Group's consolidated revenue for the six months ended June 30, 2023, was approximately HK$39.4 million, representing a 10% increase from approximately HK$35.7 million in the same period of 2022[47][52]. - The consolidated loss for the period was approximately HK$133.7 million, compared to a loss of approximately HK$61.9 million for the same period in 2022, indicating a significant increase in losses[47][50]. - The Group reported a loss before tax of HK$133,694,000 for the six months ended June 30, 2023, compared to a loss of HK$61,860,000 for the same period in 2022, reflecting a worsening financial position[165][167]. Revenue Streams - Traditional brokerage and financing businesses contributed approximately 80% of the Group's total revenue, down from 90% in the previous year, reflecting the Group's efforts to diversify its business[19]. - The Group's digital assets sales and marketing segment achieved a GMV of approximately HK$162 million and revenue of HK$2.7 million, compared to HK$120 million and HK$0.6 million in the same period of 2022[90]. - The asset management segment generated revenue of HK$691,000, which was not reported in the previous year[154]. Market Conditions - The local economy in Hong Kong grew at a slower pace of 1.5% in the second quarter of 2023, falling short of projections[14]. - The Hang Seng Index declined by 4.4% during the Reporting Period, making it the worst performer among major Asian stock markets[14]. - The International Monetary Fund reported significant market uncertainty due to banking sector turbulence and concerns over a potential US debt default in April 2023[8]. Business Development and Strategy - Despite market volatility, the Group continued to focus on core business development and brand building in the financial services sector[15]. - The Group remains committed to delivering premier financial services and products to meet various investment and wealth management needs of clients in the Greater China region[7]. - The establishment of a joint venture securities company in Guangxi is underway, with VC Brokerage expected to contribute RMB445 million (approximately HK$491 million) for a 44.5% shareholding, pending approval from the China Securities Regulatory Commission[28]. Asset Management and Investments - The Group's asset management and insurance brokerage segments began generating appreciable revenues, with the acquisition of VC International Asset Management Limited enhancing its asset management capabilities[20]. - The asset management business is expected to be one of the fastest-growing segments for the Group following the recent acquisition, enhancing its core competence in the market[23]. - The Group's investment in IBO Technology, representing approximately 7.74% of its shares, had a fair value of approximately HK$46.4 million, down 45.2% during the six months ended June 30, 2023[118]. Employee and Operational Costs - Employee costs, including salaries and benefits, rose to approximately HK$32.5 million for the six months ended June 30, 2023, compared to HK$21.0 million in the same period of 2022[96]. - Staff costs for the six months ended June 30, 2023, totaled HK$33,927,000, an increase of 53.7% compared to HK$22,078,000 in the same period of 2022[173]. - The Group recognized an equity-settled share option expense of HK$11,134,000 during the period, indicating ongoing employee incentive programs[130]. Cash Flow and Liquidity - For the six months ended June 30, 2023, net cash used in operating activities was HK$39,239,000, compared to HK$8,759,000 for the same period in 2022, indicating a significant increase in cash outflow[135]. - The total cash and cash equivalents at the end of the period were HK$25,250,000, down from HK$51,305,000 at the end of June 2022, showing a decrease of approximately 50.8%[135]. - The Group's bank balances and cash amounted to approximately HK$25.3 million, representing a decrease of about 22% compared to HK$32.3 million as of December 31, 2022[103]. Impairment and Receivables - The Group recognized an additional impairment loss of approximately HK$17.0 million on money lending client receivables for the six months ended June 30, 2023, compared to HK$8.7 million for the same period last year[71]. - The impairment loss for accounts receivable from money lending services increased to HK$95,352,000 as of June 30, 2023, compared to HK$78,362,000 as of December 31, 2022[188]. - The aging analysis of accounts receivable from corporate finance and advisory services showed that HK$4,547,000 was overdue by over 90 days as of June 30, 2023, compared to HK$4,698,000 as of December 31, 2022[198]. Shareholder Equity and Capital Structure - Shareholders' equity decreased by approximately 10% to HK$674.9 million from HK$747.7 million as of December 31, 2022[103]. - The Group's total number of issued ordinary shares increased to 2,471,023,040 as of June 30, 2023, up from 2,078,601,598 as of December 31, 2022[106]. - The accumulated losses increased to HK$1,090,279,000 as of June 30, 2023, compared to HK$956,234,000 at the beginning of the year[130].

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佈之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不會就因本公佈全部或 任何部分內容而產生或因倚賴該等內容而引起之任何損失承擔任何責任。 滙 盈 控 股 有 限 公 司 （於香港註冊成立之有限公司） 網址：http://www.vcgroup.com.hk （股票代號：821） 澄清公佈 有關 截至二零二三年六月三十日止六個月之 中期業績公佈 謹此提述滙盈控股有限公司（「本公司」）日期為二零二三年八月三十一日之截至二 零二三年六月三十日止六個月中期業績公佈（「中期業績公佈」）。本公佈所用詞彙 與中期業績公佈所界定者具有相同涵義。 董事會謹此澄清，因無心之失導致中期業績公佈出現以下錯誤： (i) 於中期業績公佈第1頁及第18頁，截至二零二三年六月三十日止六個月之每 股基本及攤薄虧損（港仙）應為(5.82)，而非(5.43)；及 (ii) 於中期業績公佈第28頁，「就計算每股基本虧損所用之普通股加權平均數」及 「就計算每股攤薄虧損所用之普通股加權平均數」應為2,304,709,379，而非 2,471,023,040。 ...

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佈之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不會就因本公佈全部或 任何部分內容而產生或因倚賴該等內容而引起之任何損失承擔任何責任。 滙 盈 控 股 有 限 公 司 （於香港註冊成立之有限公司） 網址：http://www.vcgroup.com.hk （股票代號：821） 截至二零二二年十二月三十一日止年度之 年報之補充公佈 謹此提述滙盈控股有限公司（「本公司」）於二零二三年四月二十七日刊發之截至二 零二二年十二月三十一日止年度之年報（「年報」）。本公佈旨在補充年報之內容， 並應與年報一併閱讀。除另有界定外，本公佈所用詞彙將與年報所界定者具有相 同涵義。 放債業務 按類型及其抵押品詳情劃分之貸款如下： 應收賬面 借款人類型 貸款產品 貸款數目 總金額 年利率 抵押品詳情 百萬港元 企業 定期貸款 3 52.4 15.6%-18% 若干上市公司證券 定期貸款 1 5.8 18% 若干非上市公司證券 ...

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佈之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不會就因本公佈全部或 任何部分內容而產生或因倚賴該等內容而引起之任何損失承擔任何責任。 滙 盈 控 股 有 限 公 司 （於香港註冊成立之有限公司） 網址：http://www.vcgroup.com.hk （股票代號：821） 截至二零二三年六月三十日止六個月之 中期業績公佈 滙盈控股有限公司（「本公司」）董事（「董事」）會（「董事會」）謹此提呈本公司及其 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簡明綜 合業績，連同二零二二年同期之未經審核比較數字。 財務摘要 截至六月三十日止六個月期間 二零二三年 二零二二年 千港元 千港元 收益 39,389 35,676 期內虧損 (133,708) (61,936) 本公司擁有人應佔虧損 (134,059) (61,774) 每股虧損（港仙） ...

Financial Performance - For the year ended December 31, 2022, the Group's consolidated revenue was approximately HK$73.3 million, a decrease of about 19% compared to HK$90.6 million in 2021[24]. - The Group recorded a consolidated loss attributable to shareholders of approximately HK$178.1 million for the year ended December 31, 2022, compared to a profit of approximately HK$15.2 million in the same period in 2021[24]. - Revenue from brokerage and financing accounted for 87% of total revenue, amounting to HK$82.8 million, down 23% from the previous year[26]. - The underwriting and sub-underwriting revenue decreased by 73% to HK$15.5 million, representing 6% of total revenue[26]. - Interest income from money lending clients increased by 3% to HK$37.7 million, making up 53% of total revenue[26]. - The company recorded an aggregate ECL impairment of approximately HK$30.0 million for the year ended 31 December 2022, compared to HK$25.7 million in 2021, with a net ECL impairment of approximately HK$7.8 million, down from HK$19.4 million in the previous year[42]. - The brokerage and financing businesses recorded a profit after tax of approximately HK$22.9 million for the year ended 31 December 2022, compared to HK$50.9 million for the same period last year, indicating a decline of 55.1%[73]. - The Group recorded a loss after tax of approximately HK$173.7 million for the year ended December 31, 2022, compared to a profit after tax of HK$31.7 million in 2021[128]. Market Conditions - The Hong Kong government adjusted its real GDP growth for 2022 to negative 3.2% due to weaker global demand and transportation disruptions[9]. - The Hang Seng Index fell by 15.5% year on year, while the Hang Seng TECH Index plunged 27.2%[9]. - Global growth is projected to slow from 2.9% in 2022 to 1.7% in 2023 according to the World Bank[20]. Strategic Initiatives - The Group plans to expand its financial services and digital asset business to achieve sustainable growth[2]. - The Group is pursuing the acquisition of Anli Asset Management to expand its client base and enhance asset management services[23]. - The company anticipates synergy in business collaboration with Anli Holdings Limited, which has a reliable repayment capability, as it holds a loan of approximately HK$21.2 million[34]. - The company has implemented credit control policies to minimize credit risk exposure, focusing on the assessment of clients' creditworthiness and collateral value[43]. - The company will take appropriate legal actions against unsecured borrowers in case of prolonged defaults to recover outstanding loans[35]. - The company enhanced its asset management business through a strategic acquisition, aiming to provide personalized investment and wealth management services[76]. Credit and Loan Management - Interest income from brokerage clients decreased by about 12% to approximately HK$14.1 million for the year ended 31 December 2022, down from approximately HK$16.0 million in the same period last year, primarily due to a 17% reduction in the average loan portfolio[54]. - The average interest rate for brokerage clients is approximately 12%, with almost all receivables secured by client-held securities[54]. - The credit committee of VC Finance meets monthly to review customer statuses and determine necessary actions for loan classification and impairment loss calculations[58]. - The average loan amount increased to HK$12.6 million in 2022 from HK$11.4 million in 2021, representing a growth of 10.5%[60]. - The percentage of loans secured by collaterals rose significantly to 66% in 2022, up from 34% in 2021[60]. - The average duration of secured loans increased to 9.2 months in 2022 from 7.9 months in 2021[60]. - The average duration of active loan accounts increased to 8.0 months in 2022 from 7.7 months in 2021[60]. - The percentage of total loans and interest receivables from the largest 5 customers was 40% in 2022, up from 39% in 2021[60]. Investments and Asset Management - As of 31 December 2022, the Group held equity securities listed in Hong Kong valued at approximately HK$300.6 million, representing about 37% of the Group's total assets, down from 42% in 2021[90]. - The Group recognized a net loss of approximately HK$171.7 million on trading investments for the year ended 31 December 2022, including a realized loss of approximately HK$14.2 million and an unrealized loss of approximately HK$157.5 million[101]. - The Group's investment in HG Semiconductor had a fair value of approximately HK$51.4 million, representing about 6.4% of the Group's total assets, with an unrealized loss of approximately HK$59.0 million during the year[120]. - The investment in China Nuclear Energy Technology Corporation had a fair value of approximately HK$49.7 million, accounting for about 6.1% of the Group's total assets, with an unrealized loss of approximately HK$35.1 million during the year[120]. - The share price of HG Semiconductor decreased by approximately 59.3% during the year ended December 31, 2022[120]. - The share price of China Nuclear Energy decreased by approximately 41.4% during the year ended December 31, 2022[120]. - The Group's investment in IBO Technology Company Limited had a fair value of approximately HK$84.8 million as of 31 December 2022, representing approximately 10.5% of the Group's total assets[142]. - The Group recorded an unrealized loss of approximately HK$51.5 million on its investment in IBO Technology due to a share price decrease of approximately 36.9% during the year[142]. Corporate Governance - The company emphasizes the importance of good corporate governance for effective management and enhancing shareholder value[192]. - The board is committed to maintaining high standards of corporate governance, focusing on responsible decision-making and transparency[192]. - The company aims to improve risk management and enhance overall performance[192]. - The executive team includes experienced professionals with over 20 years in financial management and corporate strategy[190]. - The company has a diverse board with members holding various qualifications in accounting and finance[181][183]. - The management team has extensive experience in auditing, accounting, and financial management across international firms[190]. - The company prioritizes the rights and interests of shareholders in its governance practices[192]. - The board includes independent non-executive directors to ensure unbiased oversight[178][180]. - The company has a strong focus on corporate culture and ethical business practices[194]. - The executive committee is actively involved in strategic decision-making and corporate development[174]. - The Group emphasizes the importance of high standards of corporate governance to enhance shareholder value and improve risk management[195]. - The Group aims to create enterprise value by applying prudent commercial principles amidst industry volatility and global economic challenges[197]. - Maintaining a positive and progressive corporate culture is a key focus for the Group to achieve promising business growth[199]. - The Board is responsible for reviewing and overseeing compliance with corporate governance policies and practices[198]. - The Group is committed to continuous professional development for its directors and senior management[200].

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佈之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不會就因本公佈全部或 任何部分內容而產生或因倚賴該等內容而引起之任何損失承擔任何責任。 滙 盈 控 股 有 限 公 司 （於香港註冊成立之有限公司） 網址：http://www.vcgroup.com.hk （股票代號：821） 截至二零二二年十二月三十一日止年度之 全年業績公佈 滙盈控股有限公司（「本公司」）董事（「董事」）會（「董事會」）謹此提呈本公司及其 附屬公司（統稱「滙盈集團」或「本集團」）截至二零二二年十二月三十一日止年度 之經審核綜合業績連同二零二一年同期之經審核比較數字。 財務摘要 截至以下年度 二零二二年 二零二一年 千港元 千港元 持續經營業務之收益 73,281 90,554 持續經營業務之年度（虧損）溢利 (178,092) 28,773 本公司擁有人應佔（虧損）溢利 (178,091) 15,188 已終止經營業務之年度虧損 – (21,979) ...

Financial Performance - The Group's revenue declined during the six months ended June 30, 2022, primarily due to a reduction in brokerage commission income, reflecting the overall deterioration of the economic environment and contraction in transaction volumes [16]. - For the six months ended June 30, 2022, the Group's consolidated revenue from continuing operations was approximately HK$35.7 million, a decrease of about 6% compared to HK$37.8 million for the same period in 2021 [41]. - The Group recorded a consolidated loss attributable to shareholders of approximately HK$61.8 million for the six months ended June 30, 2022, compared to a profit of approximately HK$101.1 million for the same period in 2021 [41]. - The total comprehensive expense for the period was approximately HK$62.2 million, contrasting with a total comprehensive income of HK$98.1 million in the same period of 2021 [110]. - The Group reported a loss before tax of approximately HK$61.9 million for the period, compared to a profit of HK$107.9 million in the previous year [109]. - Basic earnings per share for continuing operations decreased to (2.97) HK cents from 6.11 HK cents [116]. - Total income for the six months ended June 30, 2022, was HK$36,895,000, compared to HK$38,221,000 in 2021, marking a decrease of about 3.5% [159]. Economic Environment - The global economic environment faced unprecedented challenges due to recurrent COVID-19 outbreaks, high inflation, and geopolitical conflicts, intensifying uncertainty in financial markets [16]. - Hong Kong's GDP contracted by 1.3% year-on-year in the second quarter of 2022, following a 3.9% contraction in the first quarter [9]. - The OECD estimated that GDP in the G20 nations rose by only 0.7% quarter-on-quarter in the first quarter of 2022, down from 1.3% in the previous quarter [8]. - The uncertain macroeconomic outlook has led to aggressive monetary policy tightening by central banks, raising concerns about global economic slowdown [34]. Business Operations - The Group's core financial services include securities and options brokering, corporate finance advisory, asset management, and insurance brokerage [7]. - The Group aims to diversify its business and has focused on the digital asset market in recent years [15]. - The Group continued to act as a placing agent and underwriter for Hong Kong-listed companies' fundraising activities [19]. - The Group is exploring new business opportunities in the mainland China digital asset market, focusing on strategic partnerships and collaborations [37]. - The Group aims to expand its financial services business and identify suitable acquisitions and investment targets as opportunities arise [36]. Revenue Streams - The brokerage and financing businesses contributed approximately 90% of the Group's total revenue during the reporting period [18]. - Revenue from the digital assets business for the six months ended June 30, 2022, was approximately HK$0.6 million [79]. - Revenue from underwriting, sub-underwriting, placing, and sub-placing commissions totaled HK$3,626,000 for the six months ended June 30, 2022, down from HK$7,481,000 in 2021, showing a decrease of approximately 51.5% [155]. - The Group recorded a gross merchandise value (GMV) of approximately HK$120 million from digital assets sold to customers during the reporting period [24]. Financial Position - The Group's bank balances and cash totaled approximately HK$51.3 million as of June 30, 2022, a decrease of about 31% from HK$74.5 million as of December 31, 2021 [87]. - The Group's total borrowings, including margin loans, lease liabilities, and convertible bonds, were managed prudently to minimize financial risk [85][88]. - The Group's current ratio was maintained at a satisfactory level of about 17 times as of June 30, 2022, consistent with the previous period [87]. - The Group's net current assets declined to HK$810,714,000 from HK$890,691,000 [122]. Investments - The Group held equity securities listed in Hong Kong worth approximately HK$414.9 million, marking a 2% decrease in market value compared to December 31, 2021 [20]. - The Group's investment portfolio is closely monitored, and strategic moves will be determined based on performance across different industries [78]. - The Group held significant investments, including 52,652,000 shares of IBO Technology with a fair value of approximately HK$149.5 million, representing about 16% of the Group's total assets, with an unrealized profit of approximately HK$15.5 million during the six months ended June 30, 2022 [99]. Operational Challenges - The Group ceased its futures trading service during the reporting period [7]. - Sixteen securities firms ceased operations in the first half of 2022, compared to 17 for the entire year of 2021, largely due to competition from mainland China online trading platforms [13]. - The Group's proprietary trading segment recorded a loss of approximately HK$63.4 million for the six months ended June 30, 2022, compared to a profit of approximately HK$77.8 million for the same period in 2021 [49]. Future Outlook - The gradual easing of social distancing measures and stabilization of the pandemic in Hong Kong are expected to boost economic activities and stock market momentum in the second half of 2022 [35]. - The Group remains cautiously optimistic about its placing and underwriting business as fundraising activities among Hong Kong-listed companies are expected to gradually resume [36]. - The Group intends to create a blueprint for the digital assets segment, which is anticipated to become a new key revenue driver in the coming years [37].

Economic Performance - In 2021, Hong Kong's economy expanded by 6.4% year-on-year, supported by a stable pandemic situation starting in May[7]. - China's GDP growth reached 8.1% in 2021, exceeding market expectations despite challenges from the Omicron variant and a distressed real estate sector[8]. - Hong Kong's real GDP expanded by 6.4% in 2021, reversing declines from the previous two years[19]. - The global economy faces uncertainties from COVID-19 variants and geopolitical risks, which may impact growth in 2022[9]. - The global economy is projected to grow by 4.1% in 2022, with China targeting a 5.5% economic growth rate for the same year[46]. - Hong Kong's economy is expected to grow by 2.0% to 3.5% in real terms for the year, supported by fiscal measures from the government[47]. Market Performance - The Hang Seng Index fell by 14% over the year, making Hong Kong one of the worst-performing equity markets among major markets[7]. - The Hang Seng Index fell by 14.1% in 2021, with the Hang Seng Technology Index dropping by 34.8% due to regulatory crackdowns[20]. - The total funds raised in Hong Kong's securities market reached HK$770.7 billion in 2021, representing a year-on-year increase of 3.0%[20]. - The average daily turnover in Hong Kong's securities market was HK$166.7 billion in 2021, reflecting a year-on-year increase of 29.0%[20]. Business Strategy and Development - The Group plans to adopt a dual-track business strategy to enhance financial operations in Hong Kong and expand digital assets and internet gaming in China[11]. - The Group aims to improve service quality and provide stable financial services to customers to strengthen its market position[11]. - The Group aims to strengthen its financial services in Hong Kong while expanding into the digital assets and internet gaming sectors to enhance business flexibility and diversify revenue sources[13]. - The Group has launched a digital assets sales and marketing business to target the internet generation Z market, aiming to diversify its business and expand income[23]. - The Group plans to allocate more resources to develop the digital assets market through marketing cooperation and IP collaboration, expecting new business to start contributing to revenue in the current financial year[51]. - The Group aims to enhance its presence in the digital assets industry to capture potential growth and drive synergies between its internet business and other segments[53]. - The Group will continue to explore business opportunities in the PRC market and seek investment opportunities in key sectors with positive growth potential[52]. Financial Performance - For the year ended December 31, 2021, the Group's consolidated revenue from continuing operations was approximately HK$90.6 million, an increase of about 32% compared to approximately HK$68.4 million in 2020[58]. - The Group recorded a consolidated profit attributable to shareholders of approximately HK$15.2 million for the year ended December 31, 2021, compared to a loss of approximately HK$31.7 million for the same period in 2020[58]. - The improvement in the Group's consolidated results was mainly due to an increase in revenue of approximately HK$22.2 million and a reduction of impairment loss on accounts receivable of approximately HK$23.7 million[59]. - Total revenue for the year ended December 31, 2021, was approximately HK$90.6 million, a 32.4% increase from HK$68.4 million in 2020[67]. - Brokerage and financing segment revenue increased by about 40% to approximately HK$82.8 million, accounting for 92% of the Group's total revenue[69]. - The Group recorded a profit before taxation of HK$39.6 million, compared to a loss of HK$34.1 million in the previous year[68]. - The Group's total segment profit was HK$77.5 million, significantly up from HK$25.9 million in 2020[68]. - The Group's profit for the year from continuing operations was HK$28.8 million, a turnaround from a loss of HK$35.8 million in 2020[68]. Investments and Acquisitions - The company is focusing on diversifying its revenue base through digital asset-related business development[25]. - The company has made significant investments in joint ventures and acquisitions to expand its market presence and asset portfolio[26][28][35]. - The company plans to establish a joint venture securities company in Guangxi, China, with an investment of RMB 445 million (approximately HK$ 545 million), representing 44.5% equity interest[26]. - The company entered into a series of memoranda of understanding to acquire a total of 32% equity interest in China Bloom International Limited for a total cash consideration of HK$ 19.6 million, but the acquisition will not proceed[32][33]. - The company acquired 5,158,000 shares of HG Semiconductor Limited for approximately HK$ 38.3 million, representing about 0.94% of the total shares issued as of October 7, 2021[35]. - The Group made a net purchase in securities investment of approximately HK$186.3 million in 2021, significantly higher than HK$66.4 million in 2020[94]. Risk Management and Governance - The Group has established various policies to manage and monitor risks related to the environment, employment, and community[193]. - The Group's management of significant issues affecting operations includes environmental, social, and governance matters[185]. - The Group prioritizes stakeholders based on its strategic plan and business initiatives to develop mutually beneficial relationships[198]. - The Group's commitment to responsible operations is reflected in its adherence to applicable legal requirements and sustainability principles[193]. Management and Team - The company has a diverse board with expertise in finance, corporate strategy, and industry operations[169]. - The management team includes members with advanced degrees in business administration and risk management[164][166]. - The company is focused on leveraging its management's extensive industry connections for growth[165]. - The board includes independent directors with significant experience in various sectors, enhancing governance[169][173]. Sustainability Initiatives - The reporting period for the sustainability initiatives was from January 1, 2021, to December 31, 2021[190]. - The Group has implemented measures to optimize and improve disclosure requirements in the Environmental, Social and Governance Report[187]. - The Environmental, Social and Governance Report is available in both Chinese and English on the Stock Exchange's website[188]. - The sustainability strategy incorporates environmental, social, and governance considerations to enhance long-term competitiveness[193].

Economic Performance - In 2021, Hong Kong's economy expanded by 6.4% year-on-year, supported by a stable pandemic situation starting in May[7]. - China's GDP growth reached 8.1% in 2021, exceeding market expectations despite challenges from the Omicron variant and a distressed real estate sector[8]. - The Hang Seng Index fell by 14% over the year, making Hong Kong one of the worst-performing equity markets among major markets[7]. - Concerns over the resurgence of COVID-19 are expected to dampen economic growth momentum in Hong Kong in early 2022[9]. - A series of relief measures, including a new consumption voucher scheme, may support post-pandemic recovery in Hong Kong[9]. - The global economy faces uncertainties from COVID-19 variants and geopolitical risks, which may impact growth in 2022[9]. - The global economy is projected to grow by 4.1% in 2022, while China has set a 5.5% economic growth target for the same year[46]. - Hong Kong's economy is expected to achieve a real growth of 2.0% to 3.5% for the entire year, supported by fiscal measures from the government[47]. Business Strategy and Development - The Group plans to adopt a dual-track business strategy to enhance financial operations in Hong Kong and expand digital assets and internet gaming in China[11]. - The Group aims to improve service quality and provide stable financial services to customers to adapt to a competitive market[11]. - The Group aims to strengthen its financial services in Hong Kong while expanding into the digital assets and internet gaming sectors to enhance business flexibility and diversify revenue sources[13]. - The Group plans to allocate more resources to develop the digital assets market through marketing cooperation and IP collaboration, expecting new business to start contributing to revenue in the current financial year[51]. - The Group aims to enhance its presence in the digital assets industry to capture potential growth and drive synergies between digital assets and other business segments[53]. - The Group will continue to explore business opportunities in the PRC market and seek investment opportunities in key sectors with positive growth and returns[52]. - The Group's long-term strategy includes business diversification and acquisition to strengthen its position in Hong Kong and beyond[55]. Financial Performance - For the year ended December 31, 2021, the Group's consolidated revenue from continuing operations was approximately HK$90.6 million, an increase of about 32% compared to approximately HK$68.4 million in 2020[58]. - The Group recorded a consolidated profit attributable to shareholders of approximately HK$15.2 million for the year ended December 31, 2021, compared to a loss of approximately HK$31.7 million for the same period in 2020[58]. - The improvement in the Group's consolidated results was mainly due to an increase in revenue of approximately HK$22.2 million and a reduction of impairment loss on accounts receivable of approximately HK$23.7 million[59]. - Total revenue for the year ended December 31, 2021, was approximately HK$90.6 million, a 32.4% increase from HK$68.4 million in 2020[67]. - Brokerage and financing segment revenue increased by about 40% to approximately HK$82.8 million, accounting for 92% of the Group's total revenue[69]. - The Group recorded a profit before taxation of HK$39.6 million, compared to a loss of HK$34.1 million in the previous year[68]. - The Group's total segment profit was HK$77.5 million, significantly up from HK$25.9 million in 2020[68]. - Profit for the year from continuing operations was HK$28.8 million, a turnaround from a loss of HK$35.8 million in the previous year[68]. Investments and Acquisitions - VC Brokerage will contribute RMB445 million (approximately HK$545 million) for a 44.5% shareholding in a joint venture securities company in Guangxi, PRC[24]. - The company plans to establish a joint venture securities company in Guangxi, China, with an investment of RMB 445 million (approximately HK$ 545 million), representing 44.5% equity interest[26]. - The company has not yet obtained approval from the CSRC for the establishment of the PRC joint venture company[27]. - The company disposed of its entire 30% equity interest in Telebox Technology Holdings Limited for a cash consideration of HK$ 5 million, completed on December 17, 2021[35]. - The company entered into a memorandum of understanding to acquire a 32% equity interest in China Bloom International Limited for a total cash consideration of HK$ 19.6 million, but the acquisition will not proceed[32][33]. - The company acquired 5,158,000 shares of HG Semiconductor Limited for approximately HK$ 38.3 million, representing about 0.94% of the total shares issued as of October 7, 2021[35]. - The Group made a net purchase in securities investment of approximately HK$186.3 million in 2021, significantly higher than HK$66.4 million in 2020[94]. - The Group held an investment in IBO Technology, comprising 50,398,000 shares (approximately 9.15%) with a fair value of approximately HK$125.5 million, representing about 13% of total assets, and recorded an unrealized gain of approximately HK$42.5 million during the year[149]. - The Group also invested in HG Semiconductor, holding 8,565,000 shares (approximately 1.52%) with a fair value of approximately HK$62.4 million, accounting for about 7% of total assets, and recorded an unrealized gain of approximately HK$226,000[150]. Sustainability and Governance - The Group has implemented measures to optimize and improve disclosure requirements in its Environmental, Social, and Governance Report[187]. - The Group aims to manage significant environmental, social, and governance issues affecting its operations[187]. - The Group has taken initiatives to formulate policies and monitor measures related to sustainability[187]. - The Environmental, Social, and Governance Report will be published in both Chinese and English on the Stock Exchange's website[187]. - The Group is committed to responsible operations that optimize value for stakeholders and the community[193]. - Stakeholder engagement is crucial for understanding risks and opportunities, with a focus on maintaining effective communication[197]. - The Group prioritizes stakeholders based on its strategic plan and business initiatives to promote mutually beneficial relationships[198]. - The Group has implemented various channels for communication with stakeholders to gather feedback and promote sustainability[200]. Management and Team - Mr. Fu has nearly 40 years of experience in financial management and securities business[163]. - Mr. Lin has over 20 years of experience in corporate development and business strategy[164]. - Ms. Li has extensive experience in business operations and industry resources in communications and internet technology[165]. - Mr. Zhang has over 10 years of experience in sales management for electronic consumer products and internet-related products[168]. - Mr. Wong has over 15 years of experience in audit and accounting from a sizeable international firm[172]. - The company has appointed new executive directors to enhance its management team[165][168]. - The board includes independent non-executive directors with diverse backgrounds in finance and management[169][173]. - The management team is well-versed in risk management and corporate governance practices[164][172].

Economic Growth - In the first half of 2021, the G20 area GDP growth rebounded to 3.4%, an increase of 0.8% compared to the previous quarter[7]. - Hong Kong's real GDP increased by 7.9% year-on-year in the first half of 2021, ending six consecutive quarters of contraction[8]. - The global economy is projected to grow by 6% in 2021 and 4.9% in 2022, driven by a rebound in private consumption and investments[55]. - China's domestic economic growth is expected to reach 8.5% in 2021, supported by the recovery of its manufacturing industry[55]. - The Hong Kong economy is on a recovery path, with improved external conditions anticipated to support exports and boost consumer sentiment[55]. IPO Market and Securities - The Hong Kong IPO market welcomed 46 IPOs, raising a record high of US$26 billion during the first six months of 2021[13]. - The number of securities firms that ceased operations in Hong Kong significantly dropped compared to the previous year, indicating an improved market environment[14]. - The Group continues to seek business opportunities in the local IPO market by providing placing and underwriting services[20]. - The Group aims to capture opportunities in local initial public offerings and other fundraising activities, having recorded approximately HK$0.3 million in placing and underwriting commissions for the six months ended June 30, 2021[85]. Financial Performance - For the six months ended June 30, 2021, the Group's consolidated revenue was approximately HK$37.8 million, an increase of about 36% compared to HK$27.9 million in the same period of 2020[62]. - The Group recorded a consolidated profit attributable to owners of the Company of approximately HK$101.1 million, reversing a loss of approximately HK$54.8 million for the same period in 2020[62]. - Revenue from brokerage and financing businesses increased by about 46% to approximately HK$33.3 million, accounting for about 88% of the Group's total revenue[75]. - The Group recorded a net realized and unrealized gain in financial assets at fair value through profit or loss of approximately HK$79.4 million, compared to a loss of approximately HK$22.2 million for the same period last year[63]. - The Group's total income from other sources, including interest income from authorized institutions and convertible bonds, amounted to HK$526,000, compared to HK$5,879,000 in the previous year[171]. Business Segments - The Group operates six distinct business segments, up from five in 2020, including brokerage and financing, corporate finance, asset management, insurance brokerage, proprietary trading, and healthcare product distribution[173]. - The brokerage and financing segment includes services such as securities, futures, and options brokering, margin financing, and money lending[174]. - The corporate finance segment's revenue increased compared to the previous period, reflecting growth in advisory services[185]. - The asset management segment reported a profit of HK$77,826,000, while the insurance brokerage segment incurred a loss of HK$752,000[192]. Investments and Acquisitions - The Group plans to invest RMB445 million (approximately HK$543 million) in a joint venture securities company in Guangxi, representing a 44.5% shareholding[26]. - The investment in the PRC joint venture is intended to be financed through the placement of convertible bonds amounting to up to HK$850 million, with net proceeds expected to be approximately HK$829 million[27]. - The company entered into a memorandum of understanding to acquire a 16% equity interest in China Bloom International Limited for HK$9,800,000, with a principal asset valued at approximately HK$68,000,000[38]. - The company completed a placing of up to 341,150,000 shares at a price of HK$0.205 per share, representing approximately 20% of the total issued shares as of the agreement date[140]. Financial Position and Ratios - As of June 30, 2021, the Group held equity securities listed in Hong Kong valued at approximately HK$358.4 million, reflecting a 45% increase in market value compared to December 31, 2020[25]. - The Group's bank balances and cash amounted to approximately HK$79.9 million, representing an increase of about 24.5% compared to HK$64.2 million as of December 31, 2020[118]. - Current assets were approximately HK$891.0 million, reflecting a 13.0% increase from HK$788.6 million as of December 31, 2020[118]. - The Group's gearing ratio was approximately 0.01 times, a decrease from 0.03 times as of December 31, 2020[129]. - The Group's financial position remained solid, with no charged assets reported as of June 30, 2021[124][125]. Operational Efficiency and Future Outlook - The Group aims to improve operational efficiency to enhance profitability in the upcoming periods[193]. - The company continues to explore market expansion opportunities in various segments, particularly in asset management and insurance brokerage[192]. - Future outlook includes potential new product offerings and enhancements in service delivery across all segments[192]. - The Group plans to explore opportunities for business diversification and acquisitions to strengthen its comprehensive business development in Hong Kong and other regions[60]. Employee and Administrative Costs - The Group employed a total of 64 employees as of June 30, 2021, with salaries and staff benefit costs amounting to approximately HK$19.4 million, an increase from HK$17.4 million in the same period last year[110]. - Unallocated administrative costs decreased to approximately HK$6.9 million for the six months ended June 30, 2021, down from approximately HK$12.9 million in the same period last year[105]. - Employee selection and compensation are based on performance and qualifications, with additional benefits including medical insurance and training programs[113]. Compliance and Reporting - The interim financial statements are prepared in accordance with Hong Kong Accounting Standard 34, indicating compliance with local financial reporting standards[165]. - The company’s auditor provided an unqualified report on the financial statements for the year ended December 31, 2020, with no matters of emphasis noted[165]. - The Group's accounting policies remain consistent with those used in the preparation of the audited annual consolidated financial statements for the year ended December 31, 2020[168].