Financial Performance - The company's revenue for the fiscal year was HKD 54,000,000, an increase from HKD 30,400,000 in the previous year, representing an increase of approximately 77.6%[17] - The loss attributable to the company's owners was HKD 66,600,000, compared to a profit of HKD 9,800,000 in the previous year[17] - Basic loss per share was HKD 0.017, compared to basic earnings per share of HKD 0.025 in the previous year[17] - Revenue from network solutions and project services was HKD 19,800,000, a decrease of about 18.2% from HKD 24,200,000 in the previous fiscal year[18] - Telecommunications solutions generated revenue of HKD 6,000,000, up from HKD 4,500,000, while project services revenue decreased to HKD 9,800,000 from HKD 15,300,000[19] - The group's revenue increased to HKD 54,000,000 for the fiscal year, up from HKD 30,400,000 in 2018, with approximately 52.0% of the revenue coming from the newly established private jet management services[30] - The traditional network and project core business revenue decreased to 36.7% from 79.9% in 2018, while property investment contributed 11.3%, down from 18.2%[30] - Impairment losses on exploration and evaluation assets amounted to HKD 56,600,000, compared to no losses in 2018[30] - The fair value loss on investment properties was HKD 6,200,000, a significant decrease from a fair value gain of HKD 45,500,000 in 2018[30] - The total comprehensive loss for the year was HKD 98,438,000, compared to a comprehensive income of HKD 8,169,000 in 2018[188] - Total assets decreased to HKD 519,756,000 from HKD 579,133,000, reflecting a decline of 10.3%[191] - Current assets decreased to HKD 137,360,000 from HKD 154,078,000, a reduction of 10.8%[191] - The company's equity attributable to owners decreased to HKD 39,242,000 from HKD 39,242,000, while accumulated losses increased to HKD (76,450,000) from HKD (18,326,000)[191] - Cash and cash equivalents at year-end were HKD 26,755,000, down from HKD 71,921,000, indicating a decrease of 62.8%[196] - The total liabilities increased to HKD 47,478,000 from HKD 28,771,000, representing a rise of 65.1%[193] Corporate Governance - The board consists of four executive directors and three independent non-executive directors, complying with the requirement of having at least three independent non-executive directors, representing one-third of the board[45] - The company has adopted a board diversity policy, considering various factors such as gender, age, cultural background, and professional experience to enhance board diversity[45] - The company has not established a nomination committee as required by the corporate governance code, but the board believes that reviewing these matters is the responsibility of the entire board[39] - The company has implemented a custom code for securities trading by directors, which is not less stringent than the standard code outlined in the listing rules[42] - The company has arranged appropriate directors' and officers' liability insurance to provide indemnity for liabilities incurred in the course of corporate activities[43] - The company has a policy for the appointment and re-election of directors, requiring all directors to be re-elected every three years[48] - The independent non-executive directors have confirmed their independence according to the listing rules, ensuring that they are independent from the company and its subsidiaries[46] - The company has adopted internal policies for selecting directors, ensuring that new appointees are elected at the next annual general meeting[39] - The chairman of the board also serves as the CEO, which deviates from the corporate governance code's recommendation to separate these roles[38] - The board is responsible for formulating and reviewing the company's corporate governance policies and making recommendations[51] - The board has reviewed the internal control systems and ensured compliance with applicable laws and regulations[57] - The company has established a remuneration committee and an audit committee to enhance board functions and professional standards[65] - The remuneration committee reviewed the remuneration policy and made recommendations during the fiscal year[68] - The audit committee reviewed the consolidated financial statements for the year ended June 30, 2018, and the six months ended December 31, 2018[71] Risk Management - The board has established a permanent procedure to identify, review, and manage significant risks faced by the group[57] - An internal auditor has been appointed to independently audit and assess the adequacy, effectiveness, and compliance of various business controls[58] - The audit committee is satisfied with the existing internal control and corporate risk management systems during the fiscal year[60] - The company has not identified any instances of employees violating the employee trading guidelines[42] - The company plans to adopt a more cautious approach to business development due to challenges and uncertainties in the upcoming fiscal year[35] - Potential risks and uncertainties faced by the company are detailed in the management discussion and analysis, particularly on pages 3 to 7[102] Shareholder Relations - The company is committed to maintaining ongoing communication with shareholders and timely disclosure of significant developments[79] - All shares of the company have the same voting rights and rights to any declared dividends[82] - The company did not declare an interim dividend for the fiscal year, nor did the board recommend a final dividend[107] - The company’s share capital remained unchanged during the fiscal year[109] - The company has not provided any tax concessions or exemptions to shareholders holding its securities[153] - The company has not established any preferential rights for existing shareholders regarding the issuance of new shares[154] Environmental and Social Responsibility - The company has implemented ongoing internal recycling activities to contribute to environmental sustainability[103] - The company aims to improve its methods to address environmental, social, and ethical responsibilities while enhancing corporate governance[103] - The company has maintained harmonious and professional working relationships with its employees, ensuring fair compensation[105] - There were no significant disputes with business partners during the fiscal year[105] Employee and Management Information - The company employed a total of 39 full-time employees as of June 30, 2019, an increase from 34 employees in 2018[155] - All directors participated in continuous professional development activities to enhance their knowledge and skills[61] Exploration and Evaluation Activities - The company has returned three exploration licenses to the Mongolian government due to a lack of further economic potential after geological studies[24] - The exploration budget for 2019 was approximately USD 6,200,000 (equivalent to HKD 48,400,000), focusing on specific geological evidence to support a mining license application[24] - The carrying value of exploration and evaluation assets as of June 30, 2019, was HKD 32,500,000, with an impairment loss of HKD 56,600,000 recognized in the consolidated income statement for the year[172] - The assessment of impairment indicators for exploration and evaluation assets involves significant management judgment, including the evaluation of exploration license duration and future development costs[172] - The company plans to continue exploration and evaluation activities based on the budget prepared by internal mining experts[172] Share Option Plan - The total number of shares that can be issued under the share option plan is 365,753,849 shares, accounting for 9.32% of the company's issued share capital[137] - Each participant in the share option plan is limited to a maximum allocation of shares not exceeding 1% of the company's issued shares, unless otherwise approved by shareholders[138] - The exercise price for the options granted is determined by the board but cannot be less than the higher of the closing price on the grant date or the average closing price over the preceding five trading days[142] - The share option plan is valid for ten years from November 23, 2011, and is designed to incentivize participants for their contributions to the group[143] - As of June 30, 2019, the total number of options granted and not exercised was 214,810,629 shares[146] - The share options granted in the fiscal year included a total of 63,000,000 shares, which were granted on April 7, 2017[146] - The share option plan aims to reward participants for their contributions to the group, enhancing motivation and retention[134]

Revenue Performance - Revenue for the period increased to HKD 23,300,000, up from HKD 13,300,000 in the previous year, representing a growth of 75.4%[3] - The company reported a revenue of HKD 23,299,000 for the six months ended December 31, 2018, compared to HKD 13,288,000 for the same period in 2017, representing an increase of approximately 75.5%[49] - The group reported total segment revenue of HKD 23,299,000 for the six months ended December 31, 2018, with contributions from network solutions and project services at HKD 7,467,000 and project services at HKD 3,082,000[100] Loss and Earnings - The company reported a loss attributable to shareholders of HKD 27,800,000, compared to a profit of HKD 10,400,000 in the previous year[3] - Basic loss per share was HKD 0.71, compared to earnings of HKD 0.27 per share in the previous year[3] - The company incurred a loss before tax of HKD 33,558,000 for the six months ended December 31, 2018, compared to a profit of HKD 10,173,000 for the same period in 2017[49] - The total comprehensive loss for the period amounted to HKD 35,046,000, compared to a total comprehensive income of HKD 10,402,000 in the previous year[51] - The company reported a net loss attributable to shareholders of HKD 27,822 million for the six months ended December 31, 2018, compared to a profit of HKD 10,403 million in the same period of 2017[113] - The basic loss per share for the period was HKD (0.71), while the diluted loss per share was also HKD (0.71)[119] Revenue Sources and Changes - Revenue from network solutions and project services decreased to HKD 7,500,000, down from HKD 10,800,000, a decline of 30.6%[4] - Revenue from telecommunications solutions was HKD 2,500,000, down from HKD 3,000,000, a decrease of 16.7%[5] - The new private jet management service contributed approximately 54.7% to total revenue, marking a significant shift in revenue sources[14] Financial Position and Equity - As of December 31, 2018, the company's equity attributable to shareholders was HKD 489,900,000, down from HKD 515,300,000 as of June 30, 2018[16] - Total equity as of December 31, 2018, was HKD 524,238,000, a decrease from HKD 550,362,000 as of June 30, 2018, reflecting a decline of approximately 4.75%[55] - The total equity attributable to the owners of the company increased to HKD 51,790,000 as of December 31, 2018, from HKD 48,895,000 as of June 30, 2018, marking an increase of about 5.9%[58] Cash Flow and Investments - The company reported a net cash outflow from operating activities of HKD (21,786,000) for the six months ended December 31, 2018, compared to HKD (19,744,000) for the same period in 2017, indicating an increase in cash usage of about 10.5%[56] - The company invested HKD (1,857,000) in property, plant, and equipment during the six months ended December 31, 2018, compared to HKD (209,000) in the same period of 2017, indicating a significant increase in capital expenditure[56] - The net cash used in investing activities was HKD (9,388,000) for the six months ended December 31, 2018, compared to HKD (163,185,000) in the same period of 2017, showing a reduction in investment outflows[56] Corporate Governance - The board recognizes the importance of maintaining high levels of corporate governance to protect and enhance shareholder interests[40] - The company has adopted and complied with the corporate governance code as per the Stock Exchange Listing Rules, with some deviations noted[40] - Non-executive directors do not have designated terms, which constitutes a deviation from the corporate governance code[40] - The company emphasizes the need for sufficient measures to ensure its corporate governance practices meet the standards set forth in the corporate governance code[40] Employee and Administrative Expenses - The company employed a total of 36 full-time staff as of December 31, 2018, an increase from 34 staff as of June 30, 2018[45] - The group reported a significant increase in employee benefits, with total compensation reaching 4,257 thousand HKD for the six months ended December 31, 2018, compared to 3,339 thousand HKD in the same period of 2017[147] - The company incurred total tax expenses of HKD 210 million for the period, down from HKD 898 million in the previous year[111] Accounting Policies and Standards - The interim financial statements for the six months ended December 31, 2018, were prepared in accordance with the applicable disclosure requirements of the Hong Kong Stock Exchange and Hong Kong Financial Reporting Standards[64] - The adoption of Hong Kong Financial Reporting Standard No. 9 and No. 15 has been implemented from July 1, 2018, affecting the classification and measurement of financial assets and liabilities[74] - The group expects no significant impact from other new or revised standards that are not yet effective[71]