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， 對其準確性或完備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依賴該等內容而引致之任何損失承擔任何責任。 Harbour Digital Asset Capital Limited 港灣數字產業資本有限公司 （於開曼群島註冊成立之有限公司） （股份代號：913） 截至二零二二年十二月三十一日止年度 之全年業績公佈 港灣數字產業資本有限公司（前稱「合一投資控股有限公司」）（「本公司」）董事 會（「董事會」）謹此公佈本公司及其附屬公司（下文統稱「本集團」）截至二零二二 年十二月三十一日止年度（「本年度」）之綜合業績，連同截至二零二一年十二月 三十一日止上一年度之比較數字如下： 綜合全面收益表 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 港幣千元 港幣千元 出售交易證券之所得款項總額 5,983 14,190 出售透過損益按公允值列賬（「透過損益按公允值 列賬」）之上市股本投資之（虧損）╱收益 (47,047) 3,030 收益 4 1,723 361 ...

Financial Performance - The Group reported a loss before tax of HK$42,205,000 for the six months ended June 30, 2022, compared to a profit of HK$8,719,000 in the same period of 2021[19]. - Basic and diluted loss per share was HK(15.23 cents) for the six months ended June 30, 2022, compared to earnings of HK3.42 cents in 2021[26]. - For the six months ended June 30, 2022, the company reported a loss of HK$42,205,000 compared to a profit of HK$8,719,000 for the same period in 2021, reflecting a significant downturn[41]. - The Group recorded a net loss of approximately HK$42.2 million for the six months ended 30 June 2022, compared to a net profit of approximately HK$8.7 million in the same period last year[167]. - The net loss was primarily due to a fair value loss of listed equity instruments amounting to approximately HK$30.0 million during the period[167]. Equity and Assets - Total equity decreased to HK$186,963,000 as of June 30, 2022, down from HK$217,049,000 as of December 31, 2021, reflecting a decline of approximately 13.8%[35]. - The total net assets decreased to HK$186,963,000 from HK$217,049,000, indicating a decline of about 13.8%[36]. - The Group's reserves decreased to HK$186,682,000 as of June 30, 2022, down from HK$216,773,000 at the end of 2021, representing a decline of approximately 13.9%[34]. - Current assets amounted to HK$168,454,000 as of June 30, 2022, an increase from HK$159,220,000 at the end of 2021[32]. - As of June 30, 2022, net current assets increased to HK$166,638,000 from HK$158,549,000, representing a growth of approximately 6.9%[36]. - The Group's non-current assets included debt investments at amortized cost of HK$20,325,000 as of June 30, 2022[31]. - The Group's total assets include significant investments in both listed and unlisted equity, reflecting a diversified investment strategy[107]. Revenue and Income - Total revenue for the six months ended June 30, 2022, was HK$1,628,000, with dividend income from listed equity investments contributing HK$732,000[59]. - Other income for the period was HK$1,057,000, compared to HK$110,000 in the same period of 2021, indicating a significant increase[12]. - Interest income from debt investments amounted to HK$1,057,000, showing a significant increase compared to the previous period[59]. - The Group recognized other income of HK$24,000 from government grants during the reporting period[58]. Share Capital and Options - The company issued shares upon the exercise of share options, resulting in an increase of HK$994,000 in share capital[41]. - Total transactions with owners amounted to HK$12,119,000 for the period, reflecting contributions and distributions[41]. - The total issued and fully paid shares amounted to 281,182,000 shares, an increase from 223,472,000 shares as of 1 January 2021, representing a growth of approximately 25.8%[124]. - Total outstanding share options increased from 33,410,000 as of December 31, 2021, to 55,330,000 as of June 30, 2022, representing a growth of 65.5%[142]. - The total expense recognized for share options granted was approximately HK$11,120,000 for the six months ended June 30, 2022, compared to HK$3,194,000 for the same period in 2021, reflecting a significant increase of 248.5%[149]. Investment Portfolio - The investment portfolio as of 30 June 2022 comprised listed shares in 29 companies valued at HK$106.3 million, representing approximately 56.9% of the Group's consolidated net asset value[171]. - The Group also held 1 direct unlisted debt investment valued at HK$20.0 million, accounting for approximately 10.7% of the consolidated net asset value[171]. - The Group's major investment in WLS Holdings Limited had a fair market value of HK$29,136,000, representing 23.1% of the Group's investment portfolio[107]. - The Group's investment in China Jicheng Holdings Limited had a fair market value of HK$10,937,000, accounting for 8.7% of the investment portfolio[107]. - The Group did not recommend the payment of any interim dividend for the six months ended 30 June 2022[167]. Market Conditions and Future Outlook - The Dow Jones Industrial Index dropped by approximately 15.3% from 36,338 points at the end of 2021 to 30,775 points by June 30, 2022[187]. - The Hang Seng Index decreased by approximately 6.6% from 23,397 points at the end of 2021 to 21,859 points by June 30, 2022[187]. - The Federal Reserve raised the target range for the fed funds rate by 75bps to 2.25%-2.5% during its July 2022 meeting, marking the fourth consecutive rate hike[189]. - The Group plans to adopt a conservative approach on investments in the second half of the year due to the challenging market conditions[193]. - The increase in daily new COVID-19 cases in China reached over 29,000 in April 2022, impacting the economy[192]. Audit and Compliance - The audit committee reviewed the unaudited interim results, ensuring compliance and accuracy in financial reporting for the period[9]. - The interim financial statements should be read in conjunction with the 2021 annual financial statements to provide a comprehensive view of the company's financial position[54]. - The company has adopted all new and revised HKFRSs relevant to its operations effective from January 1, 2022, with no significant changes to accounting policies[54]. Employee Costs - The Group's employee costs, including directors' emoluments, totaled HK$12,125,000, up from HK$4,149,000 in the previous year[64]. Cash Flow - Net cash from operating activities for the six months ended June 30, 2022, was HK$8,419,000, an increase from HK$5,230,000 in the previous year[52]. - The net increase in cash and cash equivalents for the period was HK$9,418,000, down from HK$12,807,000 in the prior year[52]. - Cash and cash equivalents at the end of the period stood at HK$10,039,000, compared to HK$13,543,000 at the end of the previous year[50]. Liabilities - The total liabilities were not explicitly stated, but current liabilities included other payables and accruals of HK$1,815,000[33]. - Non-interest bearing current liabilities were approximately HK$1.8 million as of June 30, 2022, compared to HK$0.6 million as of December 31, 2021[198]. Liquidity - The Company considers its liquidity to be healthy with no currency and interest rate risks exposure related to its debt and obligations[198]. - There are no concrete plans for material investments or capital assets within the next twelve months as of June 30, 2022[197]. - The Group's asset portfolio is mainly financed by internally generated cash resources[198].

Financial Performance - The Group's audited consolidated net loss attributable to shareholders was approximately HK$22.6 million for the year, a decrease from HK$42.4 million in 2020, resulting in a loss per share of approximately HK$0.09 compared to HK$0.20 in 2020[12]. - The Group reported a gain on listed securities of approximately HK$12.0 million, consisting of a net realised gain of approximately HK$3.0 million and a net unrealised gain of approximately HK$9.0 million[40]. - The audited consolidated loss attributable to owners of WLS Holdings Limited for the year ended April 30, 2021, was HK$16,903,000, with an unrealized gain of approximately HK$14.6 million during the year[31]. - SEEC Media reported an audited consolidated loss attributable to owners of HK$40,136,000 for the year ended December 31, 2021, with an unrealized gain of approximately HK$8.2 million during the year[35]. - China e-Wallet reported an audited consolidated loss attributable to owners of HK$41,800,000 for the financial year ended December 31, 2020, with an unrealized loss of approximately HK$1.2 million during the year[36]. - The Group's net current assets amounted to approximately HK$158.5 million as of December 31, 2021, compared to HK$128.9 million in 2020[51]. - The consolidated net asset value per share as of December 31, 2021, was HK$0.79, down from HK$1.03 in 2020[51]. - The Group had no outstanding bank borrowings as of December 31, 2021, maintaining a gearing ratio of 0.3%[51]. Investment Strategy - The Board will maintain a diversified investment portfolio covering various sectors, including finance, consumer goods, media, construction, and mining[20]. - The Group's focus remains on listed investments in Hong Kong while cautiously identifying investment opportunities for medium to long-term capital appreciation[14]. - The Group's investment strategy emphasizes a diversified approach to mitigate risks across different business sectors[20]. - The Group's principal unlisted investments include Keen Champ Investments Limited and Peak Zone Group Limited[22]. - The Group's investment in Keen Champ represented approximately 23.0% of the Group's total assets as of December 31, 2021, with an unaudited consolidated net loss attributable to equity holders of approximately HK$1.2 million for the financial year[27]. - The Group disposed of its investment in Keen Champ for HK$50 million subsequent to the year-end date of December 31, 2021, due to anticipated global lumber consumption decrease[27]. Market Conditions - The liquidity of stock markets worldwide improved during the year, positively impacting the performance of the Group's listed investments[14]. - The Hang Seng Index decreased by approximately 14% in 2021, from 27,231 points at the beginning to 23,398 points at the end of the year[71]. - The Dow Jones Industrial Index rose from 30,606 points at the end of 2020 to 36,338 points by 31 December 2021[71]. - The investment sentiment in the West remained relatively positive despite the challenging economic environment caused by the COVID-19 pandemic[72]. - The negative impact of the Russia-Ukraine War has not yet been reflected in the economic forecasts[81]. Future Outlook - The Board believes that the economic recovery in China (including Hong Kong) will outpace that of the US and Europe[88]. - The company plans to continue investing primarily in China and Hong Kong while monitoring market dynamics[88]. - Future outlook indicates a strategic focus on expanding market presence and enhancing product offerings in the digital asset sector[106]. - The Company aims to leverage its existing user base to drive further growth in digital asset investments[101]. - New product launches are planned to cater to evolving customer needs in the digital finance landscape[106]. Corporate Governance - The Company has complied with all code provisions set out in the Corporate Governance Code for the year ended 31 December 2021, except for provisions A.2.1 and A.4.1[158]. - The roles of chairman and chief executive should be separate, and the Company has not appointed a Chairman since the resignation of Mr. NG Chi Hoi on 1 August 2016[158]. - The Board currently consists of one executive director, two non-executive directors, and three independent non-executive directors, with no directors related to each other[162]. - The Board has established three committees: Audit Committee, Remuneration Committee, and Nomination Committee to oversee specific company affairs[176]. - The Audit Committee reviewed the consolidated results for the year ended December 31, 2021, including the audited financial statements[155]. Employee and Environmental Initiatives - The Group had 15 employees as of 31 December 2021, an increase from 14 in 2020, with no significant changes in the remuneration policy[64][65]. - The Group has initiated environmental protection measures, including paper recycling and energy-saving modes on office computers[111]. - The Company has provided employees with opportunities for career advancement and competitive remuneration, with annual performance reviews[111].

Financial Performance - The profit before tax for the six months ended June 30, 2021, was HK$8,719,000, a recovery from a loss of HK$25,745,000 in the same period last year [29]. - Earnings per share for the period were HK$3.42 cents, compared to a loss of HK$13.44 cents per share in the previous year [36]. - The total comprehensive income attributable to equity holders of the company for the period was HK$8,719,000, a turnaround from the previous year's loss [34]. - The accumulated loss for the period was HK$1,006,381,000, with a profit of HK$8,719,000 recorded for the six months ended June 30, 2021 [44]. - The Group recorded a net profit of approximately HK$8.7 million for the six months ended June 30, 2021, compared to a net loss of approximately HK$25.7 million in the same period last year [149]. - Basic and diluted earnings per share for the Period were HK3.42 cents and HK3.37 cents, respectively, compared to losses per share of HK13.44 cents for the same period in 2020 [149]. Revenue and Income - Revenue for the period was HK$110,000, up from HK$72,000 in the previous year, reflecting a growth in business activity [21]. - The Group's revenue for the six months ended 30 June 2021 includes dividend income of HK$110,000 and government grants of HK$72,000 [69]. - The Group achieved a net gain on listed securities of approximately HK$14.5 million, which included a realised gain of approximately HK$2.8 million and an unrealised gain of approximately HK$11.7 million [162]. - The realised gain on disposal of listed securities of approximately HK$2.8 million was primarily from the sale of shares in Aeso Holdings Limited, amounting to approximately HK$2.4 million [162]. Asset Management - As of June 30, 2021, total net assets increased to HK$248,411,000, up from HK$229,493,000 as of December 31, 2020, representing an increase of approximately 8.0% [39]. - The company reported a net current asset value of HK$166,819,000, compared to HK$128,901,000 at the end of 2020, reflecting a growth of about 29.5% [39]. - The Group's cash and bank balances were approximately HK$13.5 million as of June 30, 2021, compared to approximately HK$0.7 million as of December 31, 2020 [194]. - The consolidated net asset value per share as of June 30, 2021, was HK$0.901, up from HK$1.027 as of December 31, 2020, with total net assets of approximately HK$248.4 million [197]. - The Group's gearing ratio was 0.1% as of June 30, 2021, down from 0.3% as of December 31, 2020, indicating a stronger financial position [197]. Investment Strategy - The company is focused on enhancing its investment strategies and exploring new market opportunities to drive future growth [19]. - The Group operates in a single business segment focused on investments in listed and unlisted securities, with no requirement for further segment reporting [72]. - The Board will maintain a diversified investment portfolio covering various sectors, including finance, consumer goods, and media [156]. - The Group's focus remains on listed equity investments in Hong Kong, with a cautious approach to identifying investment opportunities for medium- to long-term capital appreciation [151]. Share Capital and Options - The company issued new shares under placing, raising a total of HK$5,677,000 during the period [44]. - Share capital increased to HK$275,000 as of June 30, 2021, from HK$223,000 at the beginning of the year, reflecting a growth of approximately 23.3% [42]. - The total number of outstanding share options increased to 33,410,000 from 22,320,000 at the beginning of the period [131]. - During the period, 22,250,000 share options were granted, while 7,440,000 were exercised and 3,720,000 lapsed [131]. - The total expense of approximately HK$3,194,000 for share options granted during the six months ended 30 June 2021, compared to HK$1,456,000 for the same period in 2020, representing a significant increase [135]. Compliance and Governance - The audit committee has reviewed the unaudited financial statements, ensuring compliance and accuracy in reporting [19]. - The accounting policies used in the preparation of the interim financial statements are consistent with those from the previous year, ensuring comparability [68]. - The Group has adopted all new and revised HKFRSs relevant to its operations effective from 1 January 2021, with no significant changes to accounting policies [68]. Market Conditions - The Dow Jones Industrial Average Index increased from 30,606 points on December 31, 2020, to 34,502 points on June 30, 2021, reflecting a significant recovery in the U.S. stock market [182]. - The European economy's near-term outlook improved, with a marginal contraction of GDP in Q1 2021, leading to a rebound in consumption and tourism activity [187]. - The Board noted that the global economic recovery is on the right track, despite potential impacts from the Delta variant of COVID-19 and unstable U.S.-China relations [189].

Unity Investments Holdings Limited 合 一 投 資 控 股 有限 公司 largester (2018) 10:00) www.bli ANNUAL REPORT 年 報 2 0 2 0 CONTENTS 目 錄 Contents 目 錄 Page 頁次 Corporate Information 公司資料 2 Executive Director's Statement & Management Discussion and Analysis 執行董事報告及管理層討論及分析 4 Biographical Details of Directors 董事個人履歷 13 Directors' Report 董事會報告 17 Corporate Governance Report 企業管治報告 26 Environmental, Social and Governance Report 環境、社會及管治報告 48 Independent Auditor's Report 獨立核數師報告 61 Consolidated Statement of Comprehensive Incom ...

Financial Performance - For the six months ended June 30, 2020, the gross proceeds from the disposal of trading securities amounted to HK$143,000, a significant decrease from HK$41,178,000 in the same period of 2019[11]. - Revenue for the period was HK$72,000, down from HK$163,000 in 2019, reflecting a decline of approximately 56%[11]. - The loss before tax for the six months ended June 30, 2020, was HK$25,745,000, compared to a loss of HK$9,636,000 in the same period of 2019, representing an increase in losses[14]. - The basic and diluted loss per share was HK$13.44 cents, compared to HK$5.17 cents in the previous year, indicating a worsening in per-share performance[15]. - The company reported a loss for the period of HK$25,745,000, contributing to a total comprehensive loss of the same amount[28]. - The accumulated loss as of June 30, 2020, stands at HK$998,892,000, reflecting ongoing financial challenges[28]. Asset and Equity Changes - Non-current assets as of June 30, 2020, were valued at HK$142,044,000, down from HK$148,319,000 at the end of 2019[19]. - Current assets decreased to HK$104,420,000 from HK$118,041,000 in the previous year, showing a decline of approximately 11.5%[20]. - Net assets as of June 30, 2020, were HK$246,116,000, down from HK$265,069,000 at the end of 2019, reflecting a decrease of about 7.1%[23]. - Total equity as of June 30, 2020, is HK$246,116,000, a decrease from HK$265,069,000 at the beginning of the year[24]. Operating Expenses and Costs - The company reported other operating expenses of HK$7,671,000, which increased from HK$3,310,000 in the same period of 2019, indicating rising operational costs[11]. - The Group incurred staff costs of HK$878,000, including directors' emoluments, during the reporting period[47]. - The Group's operating lease charges for land and buildings amounted to HK$75,000 for the six months ended June 30, 2020, compared to HK$65,000 in 2019[51]. - The Group's equity settled share option expenses increased to HK$1,456,000 from HK$415,000 in the previous year[48]. Cash Flow and Financing Activities - Net cash used in operating activities was HK$1,400,000, compared to a net cash inflow of HK$10,002,000 in the previous year[33]. - Net cash from financing activities was HK$5,333,000, contrasting with a net cash outflow of HK$10,000,000 in the prior year[33]. - The net increase in cash and cash equivalents for the period was HK$3,933,000, up from HK$2,000 in the same period last year[33]. - Cash and cash equivalents at the end of the period amounted to HK$4,230,000, compared to HK$457,000 at the end of the previous year[33]. Market and Investment Performance - The loss from the sale of listed equity investments at fair value through profit or loss was HK$4,000, compared to a loss of HK$101,615,000 in the previous year, indicating a substantial improvement[11]. - The changes in fair value of listed equity instruments at fair value through profit or loss resulted in a loss of HK$19,864,000, contrasting with a gain of HK$95,296,000 in the previous year, highlighting significant volatility in market conditions[11]. - Over 90% of the Group's revenue and non-current assets are attributable to Hong Kong, indicating a concentrated market focus[43]. Share Capital and Stock Options - Share capital decreased from HK$186,232,000 to HK$223,000 due to a reduction of share capital of HK$186,046,000[28]. - The company issued new shares under placing, raising HK$5,299,000, resulting in a total share premium of HK$1,056,868,000[28]. - The Company completed a capital reorganization on February 20, 2020, reducing the par value of each issued share from HK$0.10 to HK$0.0001 and subdividing each authorized but unissued share into 1,000 new shares of HK$0.0001 each[83][85]. - The company reported a total of 18,600,000 stock options granted during the period, with 16,740,000 options exercised[136]. - The stock options are structured to encourage long-term commitment, with exercise periods ranging from 2 to 3 years[142][145]. - The company is actively managing its stock option program to align employee interests with shareholder value[136].

Financial Performance - The Group reported a consolidated net loss attributable to shareholders of approximately HK$70.6 million for the year ended 31 December 2019, compared to a loss of approximately HK$123.3 million in 2018[25]. - Loss per share for the year was approximately HK$0.38, down from HK$0.66 in 2018 (restated)[25]. - The Group's listed equity investments incurred a net realized loss of approximately HK$101.6 million in 2019, compared to HK$15.4 million in 2018, while unrealized gains were approximately HK$74.6 million, improving from a loss of HK$40.9 million in 2018[28]. - The Group's net current assets amounted to approximately HK$116.8 million, down from HK$154.0 million in 2018[51]. - The Group's cash and bank balances were approximately HK$0.3 million as of December 31, 2019, compared to HK$0.5 million in 2018[51]. - The consolidated net asset value per share as of December 31, 2019, was HK$0.14, a decrease from HK$0.18 in 2018[51]. - The Group had a gearing ratio of 0.5% as of December 31, 2019, significantly lower than 7.9% in 2018[51]. - The Group had no outstanding bank borrowings as of December 31, 2019, consistent with 2018[51]. - The Group reported a loss for the year ended December 31, 2019, with no interim or final dividends recommended for the year[92]. Investment Portfolio - As of 31 December 2019, the Group's investments included listed investments valued at HK$98.2 million, accounting for approximately 37.1% of the Group's consolidated net asset value[38]. - Unlisted investments totaled HK$148.3 million, representing approximately 56.0% of the Group's consolidated net asset value[38]. - The Group is focused on maintaining a diversified investment portfolio across various sectors, including finance, consumer goods, media, construction, and mining[36]. - The principal unlisted investments include Keen Champ Investments Limited, Peak Zone Group Limited, and Pure Power Holdings Limited, which are involved in forestry management, e-commerce, and natural resources exploration, respectively[39]. - The Group's strategy includes focusing on listed equity investments in Hong Kong while exploring potential investment opportunities[28]. - The Group's stake valuations as of December 31, 2019, were approximately HK$33.7 million for Peak Zone, HK$73.3 million for Keen Champ, and HK$41.3 million for Pure Power, with decreases of HK$9.0 million and HK$31.2 million for Peak Zone and Pure Power respectively, and an increase of HK$7.3 million for Keen Champ[42]. Operational Highlights - Keen Champ reported an unaudited consolidated net loss of approximately HK$1.3 million for the financial year ended December 31, 2019, attributed to the commencement of large-scale operations yet to begin[42]. - Peak Zone achieved an unaudited consolidated net profit of approximately HK$5.0 million for the financial year ended December 31, 2019, and is expanding its business in Eastern China with high growth potential[42]. - Pure Power recorded an unaudited consolidated net loss of approximately US$493,000 for the financial year ended December 31, 2019, with expectations of positive returns in the long run once large-scale operations commence[42]. - WLS Holdings Limited reported an audited consolidated loss of HK$51.9 million for the year ended April 30, 2019, but management is confident in securing more contracts based on future land supply forecasts[45]. - Asia Grocery Distribution Limited achieved an audited consolidated profit of HK$3.9 million for the year ended March 31, 2019, focusing on profitability and expanding its market presence through enhanced sales and marketing efforts[46]. Market Conditions and Future Outlook - The first quarter of 2020 is expected to be challenging due to the COVID-19 pandemic, which has resulted in over 20,000 deaths and more than 460,000 infections globally[55]. - The investment sentiment has dropped to its lowest point in nearly a decade due to the pandemic[55]. - The Board believes that the economic recovery in China (including Hong Kong) will be faster than that in the U.S. and Europe[73]. - The company will continue to primarily invest in China and Hong Kong while monitoring market dynamics[73]. - A conservative investment approach will be adopted to enhance shareholder value[73]. - China is gradually emerging from its shutdowns, restarting production at factories and resuming some flights, which is expected to provide relief for global manufacturers[67]. - President Xi Jinping expressed that China aims to meet its economic and social development goals this year despite the challenges posed by the virus outbreak[67]. Corporate Governance - The Company has complied with all code provisions set out in the Corporate Governance Code, except for provisions A.2.1 and A.4.1[150]. - The Board comprises one executive director, one non-executive director, and three independent non-executive directors, with no directors related to each other[160]. - The Company has adopted the Model Code for Securities Transactions by Directors and all directors confirmed compliance for the year[157]. - The Company will review and update its corporate governance practices to comply with Listing Rules requirements[156]. - The Audit Committee reviewed the consolidated results for the year ended December 31, 2019, including accounting principles and practices adopted by the Group[144]. - The Company has established three committees: the Audit Committee, Remuneration Committee, and Nomination Committee, each with specific responsibilities outlined in their terms of reference[191]. - The Remuneration Committee held two meetings during the year to review the remuneration packages of existing directors, maintaining transparency and accountability[200]. - The Board has established three committees: Audit Committee, Remuneration Committee, and Nomination Committee, to oversee specific company affairs[172]. Employee and Stakeholder Engagement - The company appreciates the contributions of its staff and management team during the year and expresses gratitude to shareholders for their continuous support[74]. - The Group encourages employee development through professional examinations and training, offering competitive remuneration[95]. - Each director has participated in continuous professional development activities to enhance their knowledge and skills relevant to their responsibilities[179]. - The Company aims to achieve an appropriate balance of gender diversity on the Board, reflecting stakeholders' expectations and international practices[185].

Financial Performance - For the six months ended June 30, 2019, the gross proceeds from the disposal of trading securities amounted to HK$41,178,000, compared to HK$3,522,000 in the same period of 2018, representing a significant increase[23]. - The loss from the sale of listed investments held for trading was HK$101,615,000, which is an increase from HK$10,268,000 in the previous year[23]. - Revenue for the period was HK$163,000, compared to no revenue in the same period of 2018[23]. - Changes in fair value of equity instruments at fair value through profit or loss resulted in a gain of HK$95,296,000, compared to a loss of HK$2,608,000 in 2018[23]. - The loss before tax for the period was HK$9,636,000, an improvement from a loss of HK$17,401,000 in the same period of 2018[25]. - The basic and diluted loss per share for the period was HK$0.52, compared to HK$0.93 in the previous year[26]. - The company reported a net loss of HK$9,636,000 for the six months ended June 30, 2019, compared to a loss of HK$9,069,000 in the same period of 2018[38]. - The Group reported a net fair value gain of approximately HK$95,296,000 from Hong Kong listed investments recognized in profit or loss[75]. - The Group's loss attributable to equity holders for the six months ended 30 June 2019 was approximately HK$9,636,000, compared to HK$17,401,000 in 2018, indicating a reduction in losses[67]. - The Group recorded a net loss of approximately HK$9.6 million for the Period, an improvement from a net loss of approximately HK$17.4 million in the same period last year[118]. - Loss per share for the Period was HK$0.52, compared to HK$0.93 for the same period in 2018[118]. Cash Flow and Assets - Total cash and cash equivalents at the end of the period amounted to HK$457,000, a decrease from HK$4,901,000 at the beginning of the period[38]. - Net cash from operating activities was HK$5,002,000, a significant improvement from a net cash used of HK$9,069,000 in the previous year[38]. - The Group's net current assets amounted to approximately HK$144.8 million as of June 30, 2019, down from approximately HK$154.0 million as of December 31, 2018[153]. - The Group held cash and bank balances of approximately HK$0.5 million as of June 30, 2019, consistent with the previous period[153]. - The Group's current assets were approximately HK$145.2 million as of June 30, 2019, compared to HK$182.9 million as of December 31, 2018[153]. - The consolidated net assets of the Group as of 30 June 2019 were approximately HK$326.1 million, compared to approximately HK$335.3 million as of 31 December 2018[158]. - The Group's gearing ratio was 0.1% as of 30 June 2019, significantly reduced from 7.9% as of 31 December 2018[158]. Investments - The company recognized revenue from investments in listed and unlisted securities, although specific figures were not disclosed in the provided content[48]. - The investment portfolio as of June 30, 2019, comprised HK$114.8 million in listed shares and HK$181.3 million in unlisted equity securities, representing approximately 35.2% and 55.6% of the Group's consolidated net asset value respectively[126]. - The Group maintained a diversified investment portfolio across various sectors, including finance, consumer goods, and manufacturing[125]. - The Group's significant investments did not exceed 5% of the Group's net asset value as of June 30, 2019[127]. - The Group did not derive any taxable profit for the period and the six months ended 30 June 2018[66]. Corporate Governance - The Company complied with the Corporate Governance Code throughout the period, except for specific provisions regarding the roles of chairman and chief executive[173]. - The Audit Committee is composed of all independent non-executive directors, ensuring oversight of financial reporting and risk management[182]. - The Remuneration Committee determines the remuneration packages for executive directors and senior management, ensuring alignment with market standards[183]. - The Nomination Committee reviews the structure and composition of the Board to comply with Listing Rules[184]. - The Company will review and update its corporate governance practices to comply with Listing Rules requirements[176]. Employee and Management - As of June 30, 2019, the Group had 7 employees, including directors, with no significant change in the remuneration policy during the period[177]. - The Group provides employee benefits including medical insurance and a defined contribution retirement benefits scheme[177]. - The Company expresses appreciation to the management team and staff for their contributions during the period[191]. Market Conditions - The Federal Reserve lowered the target range for the federal funds rate to 2-2.25 percent, indicating a cautious approach to economic growth amid trade tensions and inflation concerns[144]. - The European economy shows resilience in domestic demand, but export-oriented activity remains subdued, with ongoing trade tensions affecting global activity[145]. - China's economic growth is projected to moderate to 6.2% in 2019, with improvements in debt accumulation and financial regulation noted by the IMF[150]. - The Board will adopt a conservative investment approach due to uncertainties in the global investment atmosphere caused by the US-China trade war[151]. Share Options - The existing share option scheme was approved on April 30, 2013, and will remain in force for ten years, with approximately 3 years and 10 months remaining as of June 30, 2019[93]. - A total of 37,200,000 options were granted during the Period, with an exercise price of HK$0.10[102]. - The fair value of the options granted was approximately HK$415,000, calculated using a binomial option pricing model[102]. - The purpose of the option scheme is to reward participants who contribute to the group and enhance the value of the company and its shares[93].

Financial Performance - The Group's consolidated net loss attributable to shareholders for the year ended 31 December 2018 was approximately HK$123.3 million, compared to a loss of approximately HK$613.3 million in 2017[40]. - Loss per share for the year was approximately HK$0.07, down from HK$0.34 in 2017[40]. - The Group's listed equity investments recorded a net realized loss of approximately HK$15.4 million and an unrealized loss of approximately HK$40.9 million for the year[43]. - As of December 31, 2018, the net current assets of the Group amounted to approximately HK$154.0 million, down from HK$212.7 million in 2017[79]. - The consolidated net asset value per share of the Company as of December 31, 2018, was HK$0.18, compared to HK$0.25 in 2017[79]. - The gearing ratio of the Group was 7.9% as of December 31, 2018, slightly up from 7.7% in 2017[81]. - The Group reported a loss for the year ended December 31, 2018, with no interim or final dividends recommended for the year[122]. Investment Strategy - The Board will maintain a diversified investment portfolio covering various sectors, including finance, consumer goods, media, construction, and mining[50]. - The Group remains cautious in identifying investment opportunities to achieve medium-term or long-term capital appreciation[43]. - The Company continues to focus on listed investments in Hong Kong amid volatile market conditions[43]. - The Group's investment strategy emphasizes maintaining a reasonable spread of investments across different business sectors[50]. - The principal activities of the Group include investments in listed and unlisted financial instruments in Hong Kong and globally[125]. - The Group's investment strategy focuses on listed investments in Hong Kong and major stock markets worldwide[123]. Unlisted Investments - The Group holds three principal unlisted equity investment projects: Keen Champ Investments Limited, Peak Zone Group Limited, and Pure Power Holdings Limited[52]. - The Group did not acquire or dispose of any unlisted investments during the year[57]. - As of December 31, 2018, the valuations of the Group's stakes in Peak Zone, Keen Champ, and Pure Power were approximately HK$42.8 million, HK$66.0 million, and HK$72.5 million respectively, with corresponding decreases of approximately HK$9.2 million, HK$28.1 million, and HK$21.4 million during the year[56][60]. Company Performance of Subsidiaries - Pure Power reported an unaudited consolidated net loss attributable to equity holders of approximately US$377,000 for the financial year ended December 31, 2018, due to operations not yet commencing at a significant scale[58][61]. - Keen Champ recorded an unaudited consolidated net loss attributable to equity holders of approximately HK$1.0 million for the financial year ended December 31, 2018, also due to operations not yet commencing at a significant scale[59][61]. - Peak Zone achieved an unaudited consolidated net profit attributable to equity holders of approximately HK$2.5 million for the financial year ended December 31, 2018, and is expanding its business in Eastern China[63][65]. - China Kingstone reported an audited consolidated loss attributable to owners of RMB19.3 million for the year ended December 31, 2018, facing challenges in the competitive construction material market[67][70]. - China e-Wallet incurred an audited consolidated loss attributable to owners of approximately HK$46.8 million for the financial year ended December 31, 2018, focusing on growth in the mobile and gaming industry[68][70]. - CNC reported an audited consolidated loss attributable to owners of approximately HK$358.7 million for the year ended March 31, 2018, with plans for long-term returns through advertising and e-commerce business development[69][70]. - China National Cultural Industry reported a consolidated loss attributable to equity holders of approximately HK$358.7 million for the year ended March 31, 2018[71]. - KPM HLDS recorded audited consolidated earnings attributable to equity holders of approximately S$884,000 for the financial year ended December 31, 2018[73]. - CHINA PPT INV reported a consolidated loss attributable to equity holders of approximately HK$569.5 million for the financial year ended March 31, 2018[74]. - SEEC MEDIA experienced a consolidated loss attributable to equity holders of approximately HK$125.1 million for the financial year ended December 31, 2018[77]. Corporate Governance - The Company has complied with all code provisions set out in the Corporate Governance Code for the Year, except for provisions A.2.1 and A.4.1[186]. - The Company has maintained Directors and officers liability insurance during the Year[155]. - The Board currently consists of one executive director, one non-executive director, and three independent non-executive directors, ensuring a diverse and professional composition[193]. - The Board has confirmed compliance with the Listing Rules regarding the appointment of at least three INEDs, representing at least one-third of the Board[198]. - The Company has adopted the Model Code for Securities Transactions by Directors, and all directors have confirmed compliance with its standards for the year[192]. - The Company has taken sufficient measures to comply with the corporate governance code provisions regarding the separation of roles between the chairman and chief executive officer[189]. - The non-executive director, Ms. Hu Xiaoting, is subject to retirement by rotation according to the Company's articles of association[193]. - The Board has received written annual confirmations from each INED regarding their independence, in accordance with the Listing Rules[199]. Economic Environment - The Federal Reserve maintained the target range for the Federal Funds rate at 2.25% to 2.5% since December 2018, indicating no rate hikes for the remainder of 2019 due to weakening economic momentum[88][93]. - The US economic growth forecast for 2019 was downgraded to 2.1% from 2.3%, reflecting concerns about sustaining nearly 3% growth achieved in the previous year[90][91]. - Economic activity in the euro area slowed significantly, with growth dropping to 0.2% in the last two quarters of 2018, and this weak momentum is expected to continue into 2019[92][94]. - IHS Markit's flash composite Purchasing Managers' Index fell to 51.5 in March 2019, the lowest since June 2013, driven by the weakest manufacturing activity since August 2012[99]. - China's economy grew by 6.6% in 2018, but forecasts suggest a slowdown to less than 6.5% in the coming year, marking the slowest growth since official data began over two decades ago[99].