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依賴該等內容而引致的任何損失承擔任何責任。 Qianhai Health Holdings Limited 前 海 健 康 控 股 有 限 公司 （於開曼群島註冊成立的有限公司） 911 （股份代號： ） 截至二零二三年六月三十日止六個月的 中期業績公告 前海健康控股有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然宣佈本公司及其 附屬公司（「本集團」）截至二零二三年六月三十日止六個月（「本中期期間」）的未經審 核簡明綜合中期業績，連同截至二零二二年六月三十日止同期（「上一期間」）的比較 數字如下： 簡明綜合損益及其他全面收益表 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 ...

Financial Performance - The company reported a revenue of HKD 1,961,704,000 for 2022, a significant increase of approximately 592.2% compared to HKD 283,398,000 in 2021[6] - Gross profit for the year was HKD 76,482,000, up from HKD 16,038,000 in the previous year[6] - The company experienced an operating loss of HKD 233,703,000, compared to a loss of HKD 888,000 in 2021[6] - The net asset value per share decreased to HKD 0.26 from HKD 0.40 in the previous year[6] - The company recorded a net loss attributable to shareholders of approximately HKD 233.7 million, compared to a loss of about HKD 0.9 million in the previous year[24] - The total reserves available for distribution to shareholders as of December 31, 2022, amounted to approximately HKD 356,564,000, down from HKD 546,407,000 in 2021[122] - The company did not recommend any dividend payment for the year, consistent with the previous year[119] Inventory and Supply Chain - The company holds inventory valued at approximately HKD 1,876,000,000, with over 98% consisting of semiconductor materials[10] - Inventory value as of December 31, 2022, was approximately HKD 380.5 million, a decrease of about 16.4% from approximately HKD 455.1 million a year earlier[26] - The company recorded an inventory provision of approximately HKD 238.0 million due to a decline in semiconductor market prices exceeding 30% in the last quarter of the year[21] - The semiconductor industry faced significant price declines in the second half of 2022, with prices dropping over 20% to 30% in the last quarter[10] - The company aims to optimize its product mix in response to weakening market demand[11] - The company has established a main purchase agreement with a major supplier in China to secure a stable supply of electronic components[9] Business Expansion and Strategy - The health business generated only HKD 9,500,000 in revenue, accounting for approximately 0.5% of total revenue[13] - The company is exploring potential collaborations with well-known online and offline retail platforms in Hong Kong and China to expand its health product offerings[14] - The company plans to establish subsidiaries in China and Taiwan to expand its business coverage and explore potential investments in food processing and raw material extraction factories[15] - The company aims to enhance its product portfolio by sourcing high-quality new products from manufacturers in China, Taiwan, and Thailand, and plans to invest in factories in China to provide additional value-added services[17] Corporate Governance - The company is committed to high standards of corporate governance, adhering to the principles of the Corporate Governance Code as per the listing rules[48] - The board consists of a total of eight directors, including four non-executive directors, one executive director, and three independent non-executive directors[51] - The company emphasizes the importance of a diverse board composition, considering factors such as gender, age, ethnicity, and professional experience in its diversity policy[56] - The company has established a mechanism to ensure independent viewpoints are obtained in board decisions, encouraging active participation from independent non-executive directors[55] - The company has implemented a robust internal control system to ensure effective monitoring and checks and balances[48] Risk Management - The group faces major risks including credit risk, currency risk, and liquidity risk as of December 31, 2022[176] - The board has established a robust risk management and internal control system to minimize procurement price risks and protect the group's assets[92] - The risk management and internal control measures are deemed effective in assessing and managing overall procurement price risks[92] - The audit committee reviews the effectiveness of the risk management and internal control systems annually, ensuring sufficient resources and staff qualifications in accounting and financial reporting[93] Employee and Stakeholder Engagement - The group provides various employee benefits, including mandatory provident fund, medical insurance, and performance-based discretionary bonuses[175] - The group recognizes the importance of stakeholder engagement for its success and has conducted a materiality assessment to understand key concerns[182] - The group has established effective internal control systems to enhance operational efficiency and deliver environmental and social benefits to stakeholders[186] Environmental Responsibility - The company is committed to sustainable development and has implemented waste recycling initiatives in its operations[170] - The company's direct carbon emissions for the year were 2.77 tons, a decrease of 79.5% from 13.49 tons in the previous year[189] - Indirect carbon emissions amounted to 22.29 tons, down 8.7% from 24.41 tons in the previous year[189] - Total energy consumption was 34,203 kWh, a reduction of 7.1% from 36,808 kWh in the previous year[194] - The company is committed to implementing energy-saving strategies and educating employees on environmental awareness[193] Shareholder Information - The issued share capital of the company remained unchanged during the year[120] - As of December 31, 2022, the directors and the CEO held a total of 892,485,771 shares, representing 52.67% of the company's equity[142] - The company has a share option plan approved by shareholders on June 9, 2014, aimed at rewarding selected participants for their contributions[152] - The maximum number of shares available for issuance under the plan is 170,040,500 shares, representing 10% of the issued ordinary share capital as of June 13, 2017[155]

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 分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 Qianhai Health Holdings Limited 前 海 健 康 控 股 有 限 公司 （於開曼群島註冊成立的有限公司） 911 （股份代號： ） 截至二零二二年十二月三十一日止年度的 年度業績公告 前海健康控股有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然宣佈本公司及其 附屬公司（「本集團」）截至二零二二年十二月三十一日止年度（「本年度」）的經審核綜 合業績，連同截至二零二一年十二月三十一日止年度同期（「上一年度」）的比較數字 如下： 綜合損益表 截至二零二二年十二月三十一日止年度 二零二二年 二零二一年 附註 千港元 千港元 3 1,961,704 283,398 收益 4 (1,885,222) (267,360) 銷售成本 76,482 16,038 毛利 ...

Business Focus Shift - The company plans to shift its focus and resources from the health business to the electronic components business due to higher performance and growth potential in the latter[7]. - The health business primarily involves the procurement and wholesale of health products, including ginseng and skincare products, supported by a professional team with over 10 years of experience[10]. - The company is actively exploring potential collaborations with a major online retail platform in China to supply health products, which may enhance brand promotion and business outreach[13]. Electronic Components Business - The electronic components business was launched in July 2019, following a significant acquisition by the chairman, which has since established a global trading network for electronic components[3]. - The sales team has over 20 years of experience in the electronic components industry, enabling the company to procure high-quality products at reasonable prices[4]. - The company has established long-term relationships with over 20 customers and suppliers, primarily in the electronic components sector[4]. - The company plans to recruit more engineers and sales personnel to support the growth of the electronic components business[8]. - The company aims to expand its electronic components business through various strategies outlined in its mid-year report[8]. - The sales team regularly communicates with suppliers and customers to stay updated on market trends and demand[5]. Health Business Relationships - The health business maintains stable relationships with over 10 suppliers and customers, primarily in Hong Kong and China[11]. - The company is conducting site visits to manufacturers in Taiwan and Thailand to explore procurement of new health products and establish authorized distribution relationships[17]. Financial Prepayments - As of February 28, 2022, the total prepayment made to Jingdong E-Commerce was approximately HKD 60.5 million, representing about 8.0% of the company's total assets[20]. - By March 9, 2022, the total prepayment increased to approximately HKD 84.0 million, accounting for about 11.2% of total assets, reflecting a 3.2% increase[20]. - On March 22, 2022, the prepayment rose to approximately HKD 106.7 million, which was about 14.2% of total assets, showing a 3.0% increase[20]. - By March 25, 2022, the prepayment reached approximately HKD 169.1 million, representing about 22.5% of total assets, with an 8.3% increase from the previous amount[20]. - As of June 8, 2022, the prepayment totaled approximately HKD 212.4 million, accounting for about 28.8% of total assets, indicating a 6.3% increase[20]. - On June 17, 2022, the prepayment further increased to approximately HKD 245.0 million, which was about 33.2% of total assets, reflecting a 4.4% increase[22]. - By July 14, 2022, the prepayment reached approximately HKD 272.0 million, representing about 36.8% of total assets, with a 3.6% increase[22]. Investment Opportunities - The company is in discussions for a potential investment opportunity in a food processing and raw material extraction factory in Taiwan, aimed at creating synergies and gaining deeper market insights[14][16]. - The company will continue to review its business activities and assets to create greater value for shareholders[7].

Financial Performance - The total revenue for the interim period was approximately HKD 1,201.3 million, a significant increase from approximately HKD 195.7 million in the previous period, representing a growth of about 514%[8] - Gross profit for the interim period was approximately HKD 28.2 million, compared to HKD 10.6 million in the previous period, indicating a growth of approximately 166%[8] - Operating profit for the interim period was approximately HKD 19.6 million, a turnaround from an operating loss of approximately HKD 3.7 million in the previous period[8] - Net profit for the interim period was approximately HKD 19.6 million, compared to a net loss of approximately HKD 3.7 million in the previous period, marking a significant recovery[8] - Basic earnings per share for the interim period were approximately HKD 1.16, compared to a loss per share of approximately HKD 0.22 in the previous period[8] - The electronic components business generated revenue of approximately HKD 1,201.3 million, a significant increase from HKD 97.6 million in the previous period, with a segment profit of approximately HKD 28.2 million compared to HKD 12.0 million previously[14] - The gross profit for the same period was HKD 28,162,000, compared to HKD 10,559,000 in 2021, indicating a gross margin improvement[48] - The operating profit before tax for the period was HKD 19,608,000, a turnaround from a loss of HKD 3,715,000 in the previous year[48] - The company reported a net profit attributable to shareholders of HKD 19,608,000, compared to a loss of HKD 3,715,000 in the prior year[48] Business Focus and Strategy - The increase in revenue was primarily driven by higher sales volumes in the electronic components business, which is the sole contributor to total revenue during the interim period[10] - The company has shifted its focus and resources from the health business to the electronic components business to maximize shareholder profits[10] - The health business experienced a decline due to the impact of COVID-19 on consumer behavior and spending in China, leading to reduced demand for health products[10] - The company continues to actively develop its health business and diversify its product offerings despite the challenges faced[10] - The company is focused on expanding its product lines in electronic components and health products, although specific new products or technologies were not detailed in the report[65] Financial Position and Liquidity - The current ratio as of June 30, 2022, was approximately 23.8 times, up from 10.1 times on December 31, 2021[17] - Inventory decreased by approximately 39.2% to about HKD 276.9 million from HKD 455.1 million as of December 31, 2021, primarily due to reduced inventory turnover[17] - Cash and cash equivalents were approximately HKD 163.4 million as of June 30, 2022, compared to HKD 2.5 million on December 31, 2021[21] - The company had no bank borrowings as of June 30, 2022, down from HKD 7,165,000 at the end of 2021[52] - The cash and cash equivalents increased significantly to HKD 163,428,000 from HKD 2,470,000 at the end of 2021, indicating improved liquidity[50] - The net cash generated from operating activities for the six months ended June 30, 2022, was HKD 168,515,000, compared to a net cash used of HKD 7,014,000 in the same period last year[56] Shareholder Information - As of June 30, 2022, the total number of issued shares was 1,694,450,000[31] - The beneficial ownership of shares by Tak Sing Limited was 892,485,771, representing 52.67% of the total shares[34] - Beneficial owners Huang Guanchao and Lin Jie hold 80% and 10% of Tak Sing Limited, respectively[35] - The company has a stock option plan that allows for the issuance of options up to 30% of the total issued shares at any time, with a limit of 1% for any individual participant within a 12-month period[38] - The stock option plan was adopted on June 9, 2014, and is set to expire on June 8, 2024[38] - No directors or the CEO held any interests in the company's shares or related securities that required disclosure as of June 30, 2022[37] Dividend and Shareholder Returns - The company does not recommend the payment of an interim dividend for the period[25] - The company did not declare any dividends for the six months ended June 30, 2022[78] Other Financial Metrics - Total liabilities decreased from HKD 68,093,000 to HKD 28,179,000, representing a reduction of approximately 58.6%[52] - The company's total equity increased to HKD 690,141,000 from HKD 670,533,000 at the end of 2021, reflecting a growth of approximately 2.3%[50] - The company faced foreign exchange risks, reporting foreign exchange gains of approximately HKD 1.5 million during the period, down from HKD 1.8 million previously[23] - The financing costs for the first half of 2022 were significantly reduced to HKD 16 from HKD 275 in the same period of 2021[71] - The company had unexercised share options totaling 52,465,000 shares as of June 30, 2022[41] - The total trade and other receivables as of June 30, 2022, amounted to HKD 249,140, a slight decrease from HKD 250,988 as of December 31, 2021[83] - Trade payables decreased from HKD 50,439 thousand in December 2021 to HKD 21,587 thousand in June 2022, representing a decline of 57.3%[89] - Other payables, including accrued expenses, decreased from HKD 3,609 thousand in December 2021 to HKD 1,130 thousand in June 2022, a reduction of 68.7%[89] - Total trade and other payables decreased from HKD 54,262 thousand in December 2021 to HKD 22,931 thousand in June 2022, reflecting a decrease of 57.8%[89]

Financial Performance - The company's revenue for the year ended December 31, 2021, was HKD 283.4 million, a decrease of 62.7% compared to HKD 760.7 million in 2020[6]. - The gross profit for the year was HKD 16.0 million, down 64.5% from HKD 45.1 million in the previous year, with a gross margin of 5.7% compared to 5.9% in 2020[14]. - The health business generated revenue of approximately HKD 98.1 million, a decline of about 77.9% year-on-year, while the electronic components business contributed HKD 185.3 million, accounting for 65.4% of total revenue[10][12]. - The company recorded a loss attributable to owners of approximately HKD 0.9 million for the year, compared to a loss of HKD 0.8 million in the previous year[16]. - The electronic components business had a gross margin of 7.7%, significantly higher than the health business's gross margin of 1.8%[10]. Asset and Liability Management - Total assets at the end of the year were HKD 738.6 million, slightly up from HKD 735.5 million in 2020, while total liabilities increased to HKD 68.1 million from HKD 62.3 million[6]. - Non-current assets decreased by approximately 73.4% to about HKD 48.1 million as of December 31, 2021, primarily due to the sale of a subsidiary[20]. - Current assets totaled approximately HKD 690.5 million, an increase from HKD 554.8 million in 2020, while current liabilities rose to about HKD 68.1 million from HKD 61.6 million[20]. - The current ratio improved to approximately 10.1 times as of December 31, 2021, compared to 9.0 times in 2020[20]. - Inventory value increased by approximately 39.4% to HKD 455.1 million from HKD 326.4 million in 2020[20]. Strategic Initiatives - The company plans to continue monitoring market conditions and diversify its product range and customer base to maintain a competitive advantage[9]. - The company aims to maximize shareholder profits by focusing on the electronic components business, which has shown better profitability compared to the health business[8]. - The company plans to continue exploring opportunities to diversify its product portfolio and expand revenue sources in the future[18]. - The company emphasized that the divestiture allows for a more focused investment in core business areas, enhancing asset returns amid a sluggish real estate market[32]. Corporate Governance - The company has a strong management team with over 30 years of experience in finance and accounting, led by the Chief Financial Officer who is a senior member of multiple accounting associations[45]. - The company has implemented a robust internal control system to enhance corporate governance and protect shareholder interests[55]. - The board consists of a total of ten directors, including four non-executive directors, three executive directors, and three independent non-executive directors, ensuring a balanced decision-making process[58]. - The company is committed to adhering to the corporate governance code as outlined in the listing rules, demonstrating its dedication to accountability and transparency[55]. - The audit committee's main responsibilities include providing independent opinions on the effectiveness of the group's financial reporting procedures and internal controls[74]. Shareholder Information - The total reserves available for distribution to shareholders as of December 31, 2021, amounted to approximately HKD 546,407,000, a slight decrease from HKD 550,976,000 in 2020[119]. - The company did not recommend any dividend payment for the year, consistent with the previous year[116]. - The company has adopted a dividend policy on January 1, 2021, allowing shareholders to share in profits while retaining sufficient reserves for future development[96]. Environmental Responsibility - The company plans to continue enhancing resource efficiency and applying green technologies to minimize environmental impact[165]. - The company reported direct carbon emissions of 13.49 tons and indirect emissions of 24.41 tons for the year, compared to 7.57 tons and 34.5 tons respectively in the previous year[188]. - The company aims to reduce carbon emissions by encouraging the use of teleconferencing and minimizing business travel in the coming years[189]. - The company has established a collection area for recyclable materials, including paper, plastic, and metal, to enhance waste recycling efforts[190]. - The company is committed to complying with all relevant environmental laws and regulations applicable to its business operations[185]. Risk Management - The main risks and uncertainties faced by the group include credit risk, currency risk, and liquidity risk as of December 31, 2021[172]. - The group has implemented appropriate internal controls and quality control measures to ensure compliance with the Sale of Goods Ordinance in Hong Kong[169]. - The company has not experienced any violations of laws and regulations that had a significant impact on the group during the year[170].

Qianhai Health Holdings Limited 前海健康控股有限 公 司 （股份代號: 911） （於開曼群島註冊成立之有限公司） 中期報告 2021 (Stock Code: 911) Qianhai Health Holdings Limited 前海健康控股有限 公 司 (Incorporated in the Cayman Islands with limited liability) Interim Report 2021 目錄 | 公司資料 | 2 | | --- | --- | | 管理層討論與分析 | 3 | | 企業管治及其他資料 | 6 | | 簡明綜合損益及其他全面收益表 | 12 | | 簡明綜合財務狀況表 | 13 | | 簡明綜合權益變動表 | 15 | | 簡明綜合現金流量表 | 16 | | 綜合財務報表附註 | 17 | 1 前海健康控股有限公司 • 二零二一年中期報告 目錄 公司資料 董事會 非執行董事 黃冠超先生 （主席） 林捷先生 陳凱犇先生 （委任自二零二一年九月三日起生效） 陳琦先生 （委任自二零二一年九月三日起生效） 執行董事 許克立先生 藍顯賜先 ...

（於開曼群島註冊成立之有限公司） （股份代號: 911） 年 報 2020 前海健康控股有限 公 司 Qianhai Health Holdings Limited ( S t o c k C o d e : 9 1 1 ) 前海健康控股有限 公 司 Islands with limited liability) Qianhai Health Holdings Limited ANNUAL REPORT 2020 前海健康控股有限 公 司 Qianhai Health Holdings Limited ANNUAL (Incorporated in the Cayman | 公司資料 | 2 | | --- | --- | | 財務摘要 | 3 | | 管理層討論與分析 | 4-7 | | 董事及高級管理層之履歷詳情 | 8-10 | | 企業管治及其他資料 | 11-21 | | 董事會報告 | 22-35 | | 環境、社會及管治報告 | 36-44 | | 獨立核數師報告 | 45-50 | | 綜合損益表 | 51 | | 綜合全面收益表 | 52 | | 綜合財務狀況表 | 53-54 | | 綜合 ...

Q i a nha i He alt h Holdin g s Limite d 前海健康控股有限 公 （ 於 開 曼 群 島 註 冊 成 立 之 有 限 公 司 ） 中期報告 2020 司 （ 股份代號 : 9 1 1 ） Interim Report ( S t o c k C o d e : 9 1 1 ) Q i a nha i He alt h Holdin g s Limite d 前海健康控股有限 公 司 ( I n c o rpo r a t e d in t h e C a y m a n I s l a n ds w i t h limi t ed l i a bil i t y) 2020 目錄 | 公司資料 | 2 | | --- | --- | | 管理層討論與分析 | 3 | | 企業管治及其他資料 | 6 | | 簡明綜合損益及其他全面收益表 | 12 | | 簡明綜合財務狀況表 | 13 | | 簡明綜合權益變動表 | 15 | | 簡明綜合現金流量表 | 16 | | 綜合財務報表附註 | 17 | 1 前海健康控股有限公司 • 二零二零年中期報告 目錄 董事會 非執行董事 ...

Financial Performance - The company reported a revenue of approximately HKD 587.8 million for the year ended December 31, 2019, representing a 653% increase from HKD 78.0 million in 2018[11]. - Revenue from health products was approximately HKD 420.7 million, which is 5.4 times higher than the previous year's revenue, with a profit of about HKD 24.8 million, an increase of 8.3 times[14]. - The sales of electronic components, initiated in mid-2019, contributed approximately HKD 167.1 million in revenue and generated a segment profit of about HKD 7.9 million[15]. - The company’s gross profit for 2019 was HKD 32.7 million, compared to HKD 3.0 million in 2018[9]. - The net profit attributable to the owners of the company was HKD 26.7 million, with a profit margin of 5.6%[9]. - The overall profit attributable to the company's owners was approximately HKD 26.7 million, more than five times the HKD 5.0 million recorded in the previous year[20]. - Other income from lending activities amounted to approximately HKD 16.9 million, down from HKD 22.0 million in 2018, aligning with the strategy to reduce lending activities[21]. - The company recorded a net other income of approximately HKD 1.2 million, a turnaround from a net loss of HKD 5.2 million in the previous year[22]. - The company anticipates that the financial performance will inevitably be impacted by the COVID-19 pandemic in the first half of 2020, with recovery expected to begin in the second half of 2020[33]. Assets and Liabilities - Total assets increased to HKD 786.1 million in 2019 from HKD 692.5 million in 2018[9]. - The company’s total liabilities rose to HKD 123.7 million in 2019, compared to HKD 57.0 million in 2018[9]. - As of December 31, 2019, current assets totaled approximately HKD 508.9 million, up from HKD 446.3 million in 2018, while current liabilities increased to approximately HKD 122.8 million from HKD 56.9 million[24]. - Inventory value increased by approximately 377.1% to HKD 196.2 million from HKD 41.1 million in 2018, consistent with business growth[25]. - Trade receivables rose approximately 794.6% to HKD 254.0 million from HKD 28.4 million in 2018, reflecting revenue growth[26]. - As of December 31, 2019, the company's cash and cash equivalents were approximately HKD 20.0 million, down from HKD 138.3 million in 2018, with borrowings of approximately HKD 74.6 million[27]. Capital Expenditure - Capital expenditure for the year was HKD 33.1 million, up from HKD 22.0 million in 2018[9]. - Capital expenditures for the year were approximately HKD 33.1 million, an increase from HKD 22.0 million in 2018, primarily related to the acquisition of properties and equipment[23]. Corporate Governance - The company has implemented corporate governance principles in accordance with the Stock Exchange Listing Rules, ensuring accountability and protection of shareholder interests[47]. - The board consists of seven members, including two executive directors, two non-executive directors, and three independent non-executive directors, ensuring a balanced decision-making process[51]. - The company has established an internal control system to monitor and balance its operations effectively[48]. - The attendance record for board meetings shows that independent non-executive directors maintained a 100% attendance rate, indicating strong engagement in governance[57]. - The audit committee, remuneration committee, and nomination committee have been established to oversee specific areas of the company's affairs[55]. - The company has complied with the requirement of having at least three independent non-executive directors, representing one-third of the board[54]. - The company has adopted a code of conduct for securities trading by directors, confirming compliance with the standard set by the Listing Rules[49]. - The board has committed to holding at least four regular meetings annually, with a majority of directors actively participating[56]. - The company has made efforts to ensure that all board members receive adequate information and time to prepare for meetings, enhancing decision-making quality[59]. - The audit committee held 2 meetings during the year ended December 31, 2019, reviewing interim financial statements and annual reports, and providing recommendations to the board for approval[66]. - The remuneration committee conducted 3 meetings in the year ended December 31, 2019, reviewing the remuneration of current and newly appointed directors and senior management[69]. - The nomination committee held 3 meetings during the year ended December 31, 2019, reviewing the structure and composition of the board[74]. - The company secretary provided regular updates to all directors regarding the company's performance and relevant legal and regulatory developments[61]. - The board retains decision-making authority over significant operational and financial matters, including major acquisitions and capital transactions[65]. - The company has established appropriate liability insurance for directors to cover legal responsibilities arising from company affairs[63]. - The company has implemented internal control policies to manage potential conflicts of interest among directors[75]. - The company secretary has complied with the relevant professional training requirements under the listing rules[76]. - The board has reviewed the company's corporate governance policies and practices, ensuring compliance with legal regulations and standards[77]. - The company aims to maintain board diversity in skills, experience, knowledge, and other aspects to enhance board performance[74]. Shareholder Information - The company aims to achieve substantial returns for shareholders through investments and/or acquisitions of optimistic businesses or projects[33]. - The total distributable reserves available to shareholders as of December 31, 2019, amounted to approximately HKD 561,706,000, compared to HKD 555,164,000 in 2018[109]. - No dividends were recommended for the year ended December 31, 2019, consistent with the previous year[106]. - The company has adopted a dividend policy that allows shareholders to share in the profits while retaining sufficient reserves for future development[86]. - The board will consider various factors before declaring dividends, including the company's actual and expected financial performance and capital expenditure needs[88]. - As of December 31, 2019, the company has a significant shareholder, Top Rise Limited, holding 892,485,771 shares, representing 52.72% of the total equity[135]. - Mr. Huang Guanchao and Mr. Lin Jie are considered concert parties, each holding 892,485,771 shares through Top Rise Limited, which is 52.72% of the total equity[135]. - Mr. Xu Keli holds 9,500,000 shares, which is 0.56% of the total equity[135]. - The company has a stock option plan approved by shareholders on June 9, 2014, aimed at rewarding selected participants for their contributions[140]. - The maximum number of shares available for issuance under the stock option plan is 170,040,500 shares, accounting for 10% of the issued ordinary share capital as of June 13, 2017[143]. - The total number of shares that can be granted to any individual participant in a 12-month period cannot exceed 1% of the company's issued share capital[144]. - The company has no other individuals holding 5% or more of the equity as of December 31, 2019, apart from those disclosed[137]. - The company’s major shareholders include Heng Wei Limited, Qian Zi Limited, and Gui Li Global Limited, each holding 80%, 10%, and 10% of Top Rise Limited respectively[142]. - The company has no disclosed related party transactions that require disclosure under the listing rules[138]. - The company’s stock option plan allows for the issuance of options that do not exceed 30% of the company's issued shares at any time without prior shareholder approval[143]. - The company granted 16,925,000 stock options at an exercise price of HKD 0.25 per share on May 20, 2019, representing 1% of the total issued share capital as of the report date[151][152]. - As of December 31, 2019, there were no stock options exercised, lapsed, or canceled under the plan[153]. - The stock options granted are valid for a period of ten years from the grant date, expiring on May 19, 2029[146]. - The total number of stock options available for issuance under the plan is 16,925,000 shares[152]. Environmental and Social Responsibility - The company is committed to environmental responsibility and continuously measures and records energy consumption intensity[156]. - The environmental, social, and governance (ESG) report covers operations in Hong Kong, excluding those in mainland China due to their insignificance[163]. - The company reported direct carbon emissions of 10.39 tons and indirect emissions of 46.24 tons for the year[174]. - The total energy consumption included 3,929 liters of gasoline and 49,451 kWh of electricity used for daily operations[178]. - The company generated 100.2 kg of printing paper during the year, promoting the reduction of paper usage[181]. - The company has established a collection area for recyclable materials, including paper, plastic, and metal, to enhance waste recycling efforts[175]. - The company has not recorded any significant harmful waste, focusing instead on managing non-harmful waste generated from office and warehouse operations[175]. - The company is committed to complying with all relevant environmental laws and regulations, with no significant non-compliance issues reported[183]. - The company emphasizes the importance of employee rights and responsibilities as a major aspect of long-term sustainability[170]. - The company has implemented energy-saving strategies, including the use of LED lighting and temperature control in offices and warehouses[177]. - The company regularly reviews and updates its human resources policies to comply with applicable employment laws and regulations[184]. - The company provides mandatory contributions to employee benefits, including retirement funds and social insurance[186]. - The company had a total of 20 employees as of December 31, 2019, with a turnover rate of 15%[188]. - 40% of employees are aged between 31 to 40 years, and 30% are aged between 41 to 50 years[188]. - The average training hours per employee were 2.0 hours, focusing on compliance with listing rules and operational knowledge[191]. - The company has 7 suppliers in Hong Kong, 3 in the United States, and 1 in Canada[195]. - There were no reported incidents of workplace injuries or fatalities during the year[189]. - The company maintains strict quality control throughout procurement, production, and warehousing processes[196]. - No complaints or product recalls were reported during the year related to safety and health issues[196]. - The company adheres to the Personal Data (Privacy) Ordinance and has not received any complaints regarding data breaches[197]. - The company has a zero-tolerance policy towards discrimination and ensures compliance with employment laws[192]. - The company emphasizes a fair and respectful work environment, promoting equal opportunities in all HR decisions[192]. Compliance and Risk Management - The company strictly adheres to anti-corruption laws and regulations in all regions of operation, including the Prevention of Bribery Ordinance and the Anti-Money Laundering and Counter-Terrorist Financing Ordinance[200]. - The company has established and rigorously enforced an anti-corruption policy, demonstrating zero tolerance for any form of corruption[200]. - There were no legal proceedings involving corruption against the company or its employees during the year[200]. - The company has implemented confidential reporting procedures and communication channels for reporting suspicious fraudulent activities directly to management[200]. - The company conducts appropriate internal control processes and bidding procedures when collaborating with external parties to prevent potential corruption threats[200]. - Continuous review and improvement of internal controls and corporate governance are prioritized to maintain high ethical standards and integrity in all business operations[200]. - The main risks identified by the board include credit risk, currency risk, and liquidity risk[159].