Financial Performance - The total revenue for the year ended June 30, 2024, was HKD 147,242,000, a significant decrease of 83.1% compared to HKD 869,637,000 in the previous year[2] - The gross profit for the same period was HKD 22,989,000, down 91.0% from HKD 253,687,000 in the prior year[2] - The operating loss for the year was HKD 38,719,000, compared to an operating profit of HKD 405,192,000 in the previous year[2] - The net loss attributable to the owners of the company was HKD 699,345,000, a stark contrast to a profit of HKD 69,131,000 in the previous year[3] - Total revenue for the year was HKD 148,499,000, a significant decrease of 83.0% compared to HKD 872,910,000 in the previous year[9] - The reported segment loss for the year ended June 30, 2024, was HKD (758,313,000), compared to HKD (181,191,000) in the previous year, indicating a substantial increase in losses[19] - The company reported a pre-tax loss of HKD 892,378,000 for the fiscal year 2024, compared to a profit of HKD (199,761,000) in 2023[25] - The company recorded a comprehensive loss attributable to owners of approximately HKD 699,345,000, compared to a profit of HKD 69,131,000 in the previous fiscal year[84] Assets and Liabilities - The total assets decreased to HKD 1,665,703,000 from HKD 2,061,548,000, reflecting a decline of 19.2%[4] - The current liabilities exceeded current assets, resulting in a net current liability of HKD 473,718,000, compared to a net current asset of HKD 68,305,000 in the previous year[4] - The company’s equity attributable to owners decreased to HKD 293,066,000 from HKD 974,130,000, a decline of 69.9%[6] - The total assets reported as of June 30, 2024, were HKD 2,293,705,000, down from HKD 3,025,006,000 in 2023, a decrease of about 24.2%[19] - The total liabilities as of June 30, 2024, were HKD 2,178,656,000, compared to HKD 2,062,470,000 in the previous year, indicating an increase of approximately 5.6%[19] - The group's current liabilities net amount was approximately HKD 473,718,000, resulting in a current ratio of 0.78, down from 1.03 on June 30, 2023[107] - Total debt and borrowings amounted to approximately HKD 1,344,401,000 as of June 30, 2024, compared to HKD 1,363,956,000 on June 30, 2023[108] Revenue Breakdown - Revenue from property development was HKD 46,664,000, down 93.3% from HKD 697,216,000 year-on-year[10] - Revenue from the manufacturing and sales of health and household products was HKD 100,278,000, a decline of 42.0% from HKD 172,421,000 in the previous year[10] - Coal mining royalty income was HKD 300,000, with no revenue reported in the previous year[9] - Interest income from lending activities decreased to HKD 1,257,000, down 61.6% from HKD 3,273,000 year-on-year[9] - Revenue from the United States for the year ended June 30, 2024, was HKD 75,620,000, down from HKD 140,165,000 in 2023, a decline of approximately 46.1%[21] Impairment and Losses - The company reported a significant impairment loss on development properties amounting to HKD 196,443,000[2] - The impairment loss recognized for Chengde Jinyu's equity was approximately HKD 288,775,000 in 2024, up from HKD 75,860,000 in 2023, reflecting deteriorating asset recoverability[36] - The group recognized an impairment loss of approximately HKD 68,155,000 on receivables from Chengde Jinyu in 2024, whereas there was no such loss in 2023[37] - The total impairment provision for receivables increased to HKD 44,987,000 in 2024 from HKD 38,058,000 in 2023, indicating rising credit risk[40] - The company recognized a reversal of impairment loss of HKD (31,761,000) related to exploration and evaluation assets due to the approval of mining operations by the Indonesian government[33] Cash Flow and Financing - The company reported a net cash outflow from operating activities of approximately HKD 21,120,000 for the year ended June 30, 2024, against current liabilities of about HKD 473,718,000[60] - The company has not made scheduled repayments on certain borrowings as of June 30, 2024, raising significant doubts about its ability to continue as a going concern[60] - The auditor expressed concerns regarding the recoverability of exploration and evaluation assets, which had a zero balance as of June 30, 2023, and the appropriateness of impairment losses recognized for the years ended June 30, 2023, and June 30, 2024[61] - The company has established a long-term relationship with banks and is confident in renewing bank borrowings of approximately HKD 4,900,000 upon maturity[82] Operational Changes and Future Outlook - The company has suspended construction on development properties since August 2022, indicating a strategic shift in operations[43] - The coal mining business received government approval for its work and budget plan on December 31, 2023, with coal production expected to start in April 2024 and the first sale in May 2024[93] - The company anticipates additional cash flow from the full launch of new products and a recovery in electric toothbrush sales in the coming year[82] - The company plans to implement revolutionary production designs to achieve maximum cost efficiency in terms of production volume and quality[82] - The company is considering legal action to recover receivables and may sell them to collection agencies or asset management companies due to ongoing litigation[58] Auditor's Concerns and Management Response - The auditor has issued a qualified opinion on the accuracy of bank borrowings and related financing costs due to lack of feedback from banks[77] - The management acknowledges the uncertainty regarding the recoverability of other receivables and accepts the auditor's qualified opinion on this matter[74] - The management believes that the qualified opinions have been fully addressed following the completion of the sale of relevant interests[80] Employee and Dividend Information - The group employed 588 staff as of June 30, 2024, with 20 in Hong Kong, 567 in China, and 1 in Indonesia[116] - The board did not recommend any dividend payment for the year ending June 30, 2024, consistent with the previous year[119]

Financial Performance - Total revenue for the six months ended December 31, 2023, was HKD 83,786,000, a decrease of 88.8% compared to HKD 745,823,000 for the same period in 2022[2] - Gross profit for the period was HKD 5,808,000, down 97.1% from HKD 198,132,000 year-on-year[2] - Operating loss for the period was HKD 21,421,000, compared to an operating profit of HKD 141,502,000 in the previous year[2] - Total comprehensive loss for the period amounted to HKD 925,483,000, significantly higher than the loss of HKD 94,197,000 in the same period last year[3] - The company reported a net loss attributable to owners of the company of HKD 694,210,000, compared to a loss of HKD 34,736,000 in the prior year[3] - The basic loss per share for the period was HKD 5.62, compared to HKD 0.32 in the previous year[3] - The group reported a total loss of HKD 937,183,000 for the six months ended December 31, 2023, compared to a profit of HKD 104,101,000 in the same period of 2022[12] - The attributable comprehensive loss for the period was approximately HKD 694,210,000, significantly higher than the HKD 34,736,000 loss in the same period last year[44] Assets and Liabilities - As of December 31, 2023, total assets were HKD 1,565,956,000, down from HKD 2,061,548,000 as of June 30, 2023[4] - Current liabilities exceeded current assets by HKD 526,761,000, indicating a significant liquidity issue compared to a net asset position of HKD 68,305,000 in the previous period[4] - The company’s equity attributable to owners decreased to HKD 309,476,000 from HKD 974,130,000 as of June 30, 2023[5] - The group’s total assets as of December 31, 2023, amounted to HKD 1,523,110,000, while total liabilities were HKD 1,779,134,000[11] - Total borrowings as of December 31, 2023, were approximately HKD 1,082,641,000, slightly up from HKD 1,081,356,000 as of June 30, 2023[32] - The total debt and borrowings of the group amounted to approximately HKD 1,365,241,000 as of December 31, 2023, slightly increasing from HKD 1,363,956,000 as of June 30, 2023[84] - The group's debt ratio, calculated as total debt and borrowings divided by total equity, was 2,350.6% as of December 31, 2023, significantly up from 141.7% as of June 30, 2023[85] Cash Flow - The net cash inflow from operating activities for the six months ended December 31, 2023, was HKD 14,101,000, a decrease of 8.06% from HKD 15,337,000 in the same period of 2022[7] - Cash and cash equivalents at the end of the period increased to HKD 43,845,000 from HKD 41,427,000 at the beginning of the period, reflecting a net increase of HKD 10,469,000[7] - The group’s financing activities resulted in a net cash outflow of HKD 3,630,000 for the six months ended December 31, 2023, compared to HKD 85,703,000 in the same period of 2022[7] Impairment and Losses - The company recognized impairment losses on properties under development amounting to HKD 405,267,000 during the period[2] - The impairment loss on interests in associates amounted to HKD 327,144,000, while the impairment loss on receivables from associates was HKD 68,093,000[25] - The company confirmed an impairment loss of approximately HKD 405,300,000 related to the Nanjing project's development properties[75] - The net realizable value of the properties available for sale as of December 31, 2023, was determined to be below their carrying amount, resulting in a write-down of approximately HKD 9,584,000 recognized as a cost of sales[67] Revenue Segments - The revenue from property development for the six months ended December 31, 2023, was HKD 36,495,000, a significant decrease from HKD 632,606,000 in the same period of 2022[12] - The health and household products segment generated revenue of approximately HKD 47,291,000, a decrease of about 58.2% from HKD 113,217,000 in the previous year[46] - The lending division generated revenue of approximately HKD 284,000 during the period, a significant decrease from HKD 653,000 in the first half of 2022/2023[51] Financing and Debt Management - The company has been actively seeking refinancing for a secured bank loan of approximately RMB 319,700,000 related to the Nanjing project, but no substantial progress has been made[23] - The company is currently seeking other potential buyers for its property development projects in China after a previous buyer withdrew due to market conditions and unresolved debt issues[59] - The company has faced significant challenges in financing due to the suspension of the Luanping project and the inability to obtain additional financing for overdue loans[61] - The company is actively seeking financing or refinancing of a secured bank loan amounting to RMB 319,740,000 (approximately HKD 353,187,000) to restore the Nanjing project, but there has been no substantial progress since October 2022[70] Corporate Governance and Management - The company did not recommend any interim dividend for the six months ended December 31, 2023, consistent with the previous year[20] - The group employed 19 staff in Hong Kong, 510 in China, and 2 in Indonesia as of December 31, 2023, with a decrease in total employees from 589 to 531[92] - There were changes in the board and senior management, including the resignation of key executives during the reporting period[93] - The company confirmed that all directors complied with the standard code of conduct for securities trading during the six months ending December 31, 2023[99] - The company adhered to all corporate governance practices as per the listing rules during the six months ending December 31, 2023[100]

Tax Expenses - Zhongzheng International Company Limited reported a preliminary interim performance for the six months ending December 31, 2023, with a tax expense of 24,093 thousand HKD, a significant decrease from 134,249 thousand HKD in the same period of 2022[2] - The company recorded a provision for current year corporate income tax of 2,743 thousand HKD, down from 31,451 thousand HKD year-on-year[2] - Land appreciation tax for the period was reported at 4,007 thousand HKD, compared to 125,818 thousand HKD in the previous year[2] - Deferred tax items showed an expense of (30,843) thousand HKD, an increase from (23,020) thousand HKD in the prior year[2] Clarifications - The board confirmed that the clarifications made do not affect any other information disclosed in the interim performance announcement[3]

Financial Performance - Total revenue for the six months ended December 31, 2023, was HKD 83,786,000, a significant decrease of 88.8% compared to HKD 745,823,000 for the same period in 2022[2] - Gross profit for the same period was HKD 5,808,000, down 97.1% from HKD 198,132,000 in the previous year[2] - The company reported a total loss for the period of HKD 929,060,000, compared to a loss of HKD 47,537,000 in the prior year, indicating a substantial increase in losses[4] - The loss attributable to the owners of the company was HKD 694,210,000, compared to HKD 34,736,000 in the previous year[4] - The reported segment loss for the six months ended December 31, 2023, was HKD (937,183,000), compared to a profit of HKD 104,101,000 in the same period of 2022[14] - The company reported a net loss before tax of HKD (953,153,000) for the six months ended December 31, 2023, compared to a profit of HKD 86,712,000 in the same period of 2022[14] - The comprehensive loss attributable to the company's owners was approximately HKD 694,210,000, significantly increasing from HKD 34,736,000 in the first half of 2022/23[46] Assets and Liabilities - The company's total assets decreased to HKD 1,565,956,000 as of December 31, 2023, from HKD 2,061,548,000 as of June 30, 2023[5] - Current liabilities exceeded current assets by HKD 526,761,000, indicating a significant liquidity issue compared to a net asset position of HKD 68,305,000 as of June 30, 2023[5] - The segment assets as of December 31, 2023, totaled HKD 1,523,110,000, down from HKD 2,366,979,000 as of June 30, 2023[14] - The total debt and borrowings amount to approximately HKD 1,365,241,000 as of December 31, 2023, slightly up from HKD 1,363,956,000 on June 30, 2023[96] - The debt ratio is reported at 2,350.6% as of December 31, 2023, significantly higher than 141.7% on June 30, 2023[97] Impairment and Financing Costs - The company recorded an impairment loss of HKD 405,267,000 on properties under development during the period[4] - Financing costs increased significantly to HKD 109,358,000 from HKD 30,076,000 in the previous year, reflecting higher borrowing costs[4] - The company recognized an impairment loss of approximately HKD 405.3 million due to the net realizable value of the Nanjing project's properties being assessed below their book value[28] - The company recognized an impairment loss of approximately HKD 327.1 million related to the Luanping project due to significant uncertainties in business prospects[29] - The company has recognized a provision for impairment losses of approximately HKD 68.1 million on receivables from joint ventures due to insufficient assets to repay debts[29] Revenue Streams - Revenue from the health and household products business was approximately HKD 47,291,000, a decrease of about 58.2% compared to HKD 113,217,000 in the first half of 2022/23[49] - The lending division generated revenue of approximately HKD 284,000 in the current period, a decrease from HKD 653,000 in the previous year[57] - The sales revenue recognized from the Dongguan project during the period is approximately HKD 36,495,000, compared to HKD 632,606,000 in the first half of 2022/23[73] Shareholder and Dividends - The company did not declare any interim dividend for the six months ended December 31, 2023, consistent with the previous year[24] - The group will not issue any dividends for the current period, consistent with the previous period[104] Future Plans and Projects - The company is actively seeking refinancing for a secured bank loan of approximately RMB 319.7 million and aims to resume the Nanjing property development project, but there has been no substantial progress since October 2022[28] - The company is seeking potential buyers for its property development projects in China after a previous buyer withdrew due to market conditions[64] - The company plans to identify potential buyers for its property projects, including the Nanjing project, aiming to complete sales before 2024[84] - The group expects sales growth in the health and household products business due to faster market entry strategies, private label retail, and new product innovations[87] Cash and Bank Balances - The company has approximately HKD 43,845,000 in cash and bank deposits as of December 31, 2023, an increase from HKD 41,427,000 on June 30, 2023[93] - Cash and cash equivalents totaled approximately HKD 43.8 million as of December 31, 2023, compared to HKD 41.4 million as of June 30, 2023[33] Operational Challenges - The Luanping project, a major land development initiative, has faced operational suspension since 2019 due to environmental issues, with significant overdue debts totaling approximately HKD 1,364,607,000[66] - The Nanjing project "Quanyue Chunfeng" has paused construction since August 2022 due to funding shortages and COVID-19 impacts, with 39 residential units pre-sold, accounting for 14.4% of the available saleable area[77] - The company has assessed the net realizable value of the Nanjing project as lower than its book value, leading to an impairment loss of approximately HKD 405,300,000[80] Management and Governance - The board of directors consists of two executive directors, one non-executive director, and three independent non-executive directors[110]

Financial Performance - The company reported total revenue of HKD 210,075,000 for the eighteen months ending June 30, 2022, compared to HKD 154,692,000 for the twelve months ending December 31, 2020, representing an increase of approximately 35.8%[4]. - The gross profit for the eighteen months was HKD 42,614,000, with a gross margin of approximately 20.3%, compared to a gross profit of HKD 44,772,000 for the previous period[4]. - The operating loss for the eighteen months was HKD 64,987,000, compared to an operating loss of HKD 22,116,000 for the previous twelve months, indicating a significant increase in losses[4]. - The total comprehensive loss for the eighteen months was HKD 408,964,000, compared to HKD 13,604,000 for the previous period, highlighting a substantial decline in overall financial performance[14]. - The company reported a loss attributable to owners of the company from continuing operations of HKD 93,290,000 for the eighteen months, compared to HKD 73,719,000 for the previous period[10]. - The total reported segment loss for the period was HKD (153,897,000), significantly higher than the loss of HKD (31,911,000) in the previous period[43]. - The group reported a loss of approximately HKD 314,108,000 for the period, compared to a loss of HKD 53,788,000 for the twelve months ended December 31, 2020[64]. - The consolidated loss for the period was approximately HKD 339,891,000, compared to a loss of HKD 67,192,000 for the twelve months ending December 31, 2020[85]. Assets and Liabilities - Non-current assets as of June 30, 2022, totaled HKD 754,600,000, down from HKD 1,404,103,000 as of December 31, 2020, indicating a decrease in asset value[24]. - Current liabilities increased to HKD 3,081,028,000 as of June 30, 2022, compared to HKD 1,802,926,000 as of December 31, 2020, reflecting a significant rise in financial obligations[28]. - The company's net asset value decreased to HKD 1,015,436,000 as of June 30, 2022, from HKD 1,424,893,000 as of December 31, 2020, indicating a decline in equity[32]. - Total assets as of June 30, 2022, amounted to HKD 4,109,592,000, an increase from HKD 3,669,597,000 as of December 31, 2020[43]. - Total liabilities increased to HKD 3,094,156,000 from HKD 2,244,704,000, reflecting a rise of approximately 37.9%[43]. - The group’s share of net assets in joint ventures decreased to HKD 580,824,000 as of June 30, 2022, down from HKD 1,200,663,000 as of December 31, 2020[68]. Revenue Segments - The healthcare and household products segment generated revenue of HKD 202,822,000, up from HKD 149,768,000, representing a growth of approximately 35.4%[50]. - Revenue from the health and household products segment was approximately HKD 202,822,000, up from HKD 149,768,000 for the twelve months ending December 31, 2020, with the U.S. market contributing about 76% of this segment's revenue[86]. - The interest income from the lending business was HKD 7,253,000, compared to HKD 4,924,000 in the previous period, indicating a growth of approximately 47.3%[50]. - The lending business generated revenue of approximately HKD 7,253,000, compared to HKD 4,924,000 for the twelve months ending December 31, 2020, with total receivables amounting to HKD 46,292,000[87]. Operational Changes and Future Outlook - The company has not provided specific guidance for future performance or new product developments in the current report[2]. - There were no mentions of market expansion or mergers and acquisitions in the financial report[2]. - The company plans to terminate its property development and first-level land development business following the sale of its wholly-owned subsidiary, Hong Kong Zhongzheng City Investment Limited[41]. - The company does not expect further growth in its lending business for the twelve months ending June 30, 2023, due to recent market conditions[87]. - The company plans to expand its R&D capabilities to meet increasing technical demands from customers and maintain a competitive edge[116]. - The company remains cautious about the global consumer market outlook due to increased logistics costs and supply chain disruptions caused by the pandemic and geopolitical tensions[114]. Cash Flow and Financing - The financing costs for the period included HKD 74,567,000 in bank loan and overdraft interest, a significant increase from HKD 1,552,000 in the previous year[5]. - The group reported a significant increase in financing costs related to shareholder loans, rising to HKD 24,406,000 from HKD 13,031,000[5]. - As of June 30, 2022, the company had cash and bank deposits of approximately HKD 7,774,000, a significant decrease from HKD 177,095,000 as of December 31, 2020[120]. - The company's current ratio as of June 30, 2022, was 1.09, down from 1.26 as of December 31, 2020, indicating a decline in liquidity[121]. - Total debt and borrowings amounted to approximately HKD 323,380,000 as of June 30, 2022, a decrease from HKD 1,382,133,000 as of December 31, 2020[122]. - The company's debt ratio was 31.9% as of June 30, 2022, significantly improved from 97.0% as of December 31, 2020[123]. Project Developments - The Luanping project in Hebei Province, China, is expected to cover an area of approximately 12,000 mu and is projected to be completed within eight years, with the first phase running from November 8, 2016, to November 7, 2024[95]. - The Luanping EOD pilot project has an estimated investment scale of approximately RMB 18.5 billion, which is expected to bring significant infrastructure investment to the Luanping project[96][98]. - The Dongguan project has sold a total construction area of 18,802 square meters, generating revenue of approximately RMB 652,552,053, with construction and major inspections completed[101]. - The Nanjing project, with a total construction area of approximately 340,000 square meters, has seen delays due to the COVID-19 pandemic, but has obtained pre-sale permits and started selling residential units totaling 43,464 square meters[102]. - The first phase of the Nanjing project has achieved 90% completion of the superstructure, with 22 units signed and 40 units subscribed, amounting to approximately RMB 82,730,000 and RMB 143,270,000, respectively[102]. Shareholder and Corporate Actions - The company plans to sell its entire issued share capital of Hong Kong Zhongzheng City Investment Co., Ltd. due to tightened mortgage approvals and poor sales performance of related projects[104]. - The sale agreement includes a cash payment of HKD 308,432,023 and a transfer of RMB 200,000,000 (approximately HKD 234,484,000) in promissory notes[105]. - The estimated net cash proceeds from the sale, after deducting related expenses of HKD 7,500,000, is HKD 300,932,023[108]. - The company intends to utilize the net cash proceeds of HKD 440,031,023 for various purposes, including HKD 250,000,000 for repaying debts to a major shareholder and HKD 110,000,000 for developing health and household products[108]. - Following the completion of the sale, the remaining group will focus on manufacturing and selling health and household products, lending business, and coal mining[109]. - The company anticipates a loss of approximately HKD 72,598,000 upon completion of the sale[112]. Regulatory and Reporting - The company adopted new and revised Hong Kong Financial Reporting Standards effective from January 1, 2021, with no significant changes to accounting policies or reported amounts[39]. - The company has not yet completed the audit procedures for the unaudited financial results for the 18 months ending June 30, 2022, due to the recent outbreak of the novel coronavirus[137]. - The board approved the unaudited financial statements for the 18 months ending June 30, 2022, on October 19, 2022[137]. - Further announcements will be made regarding any significant differences between the audited and unaudited financial results once the audit is completed[139]. - The company will publish its annual report containing all information required by the Listing Rules Appendix 16 on the Hong Kong Stock Exchange and its own website[140].

Financial Performance - Total revenue for the year ended December 31, 2021, was HKD 130,340,000, a decrease of 15.7% compared to HKD 154,692,000 in 2020[8] - The company reported a loss of HKD 322,933,000 for the year, significantly higher than the loss of HKD 67,192,000 in the previous year[10] - Gross profit for the year was HKD 29,538,000, down from HKD 44,772,000 in 2020, reflecting a gross margin decline[8] - The company reported a total comprehensive loss of HKD 338,703,000 for the year, compared to a comprehensive loss of HKD 13,604,000 in 2020[10] - Revenue from the healthcare and household products segment for the year ended December 31, 2021, was HKD 125,505,000, down from HKD 149,768,000 in 2020, representing a decrease of approximately 16.1%[26] - The total impairment loss recognized for the assets of the disposed group was HKD 101,556,000 for the year ended December 31, 2021[35] - The company recorded a total loss from discontinued operations of HKD 256,239,000 for the year ended December 31, 2021, compared to a profit of HKD 6,527,000 in 2020[35] - The consolidated loss for the twelve months ended December 31, 2021, was approximately HKD 322,933,000, compared to a loss of about HKD 67,192,000 in the same period of 2020[61] Assets and Liabilities - The company’s total assets decreased to HKD 3,561,981,000 from HKD 4,104,103,000 in the previous year[13] - The net asset value decreased to HKD 1,085,697,000 from HKD 1,424,893,000, reflecting a decline in overall equity[15] - Non-current assets totaled HKD 789,855,000, down from HKD 1,404,103,000 in the previous year, indicating a reduction in long-term investments[13] - The company’s cash and cash equivalents decreased to HKD 177,095,000 from HKD 1,559,362,000, highlighting liquidity challenges[13] - The company’s debt and borrowings totaled approximately HKD 314,027,000 as of December 31, 2021, a decrease from HKD 1,382,133,000 as of December 31, 2020[93] - The company’s debt ratio was 28.9% as of December 31, 2021, significantly improved from 97.0% as of December 31, 2020[94] Cash Flow - The net cash generated from operating activities for the year ended December 31, 2021, was HKD 195,351,000, compared to a net cash outflow of HKD 44,782,000 in 2020[19] - The net cash used in investing activities was HKD 224,875,000 for the year ended December 31, 2021, compared to HKD 87,086,000 in 2020[19] - The net cash generated from financing activities increased to HKD 156,110,000 in 2021 from HKD 104,547,000 in 2020[19] - The total cash and cash equivalents at the end of 2021 were HKD 346,662,000, up from HKD 177,095,000 at the end of 2020[19] Business Operations - The company plans to terminate its property development and first-level land development business following the sale of its wholly-owned subsidiary, Hong Kong Zhongzheng City Investment Co., Ltd.[20] - The company is focused on manufacturing and selling health and household products, as well as lending and mining operations[20] - The company has signed a commercial agreement with a well-known international health brand for an electric beauty device project, potentially generating sales of up to HKD 312,000,000 over three years[90] - The company has commenced mass production of new projects related to adult electric toothbrushes and UV sterilizers, with expected total sales of approximately HKD 71,000,000 for the year[90] Governance and Compliance - The company’s financial statements are prepared in accordance with Hong Kong Accounting Standards, ensuring compliance with local regulations[22] - The audit committee, composed of independent non-executive directors, is responsible for reviewing the financial reporting process and internal controls[112] - The company has complied with all provisions of the corporate governance code, except for the specific provision regarding the term of non-executive directors[109] - The board consists of four executive directors and three independent non-executive directors, indicating a balanced governance structure[113] Shareholder Information - Major shareholders include Liang Songshan with 4,233,534,634 shares (39.48%), Lim Kim Chai with 1,569,420,951 shares (14.64%), and Qiu Qing with 1,259,861,773 shares (11.75%) as of December 31, 2021[104] - The total number of shares available for issuance under the 2015 Share Option Scheme is 96,186,832, representing 0.90% of the issued shares as of the report date[103] Employment and Workforce - As of December 31, 2021, the company had 20 employees in Hong Kong, 593 in China, and 1 in Indonesia, reflecting a decrease from 29, 671, and 1 employees respectively in 2020[97]