Financial Performance - Revenue for the six months ended December 31, 2024, was HKD 32,946,000, a decrease of 14.7% compared to HKD 38,625,000 for the same period in 2023[4] - The company reported a loss before tax of HKD 7,744,000, compared to a loss of HKD 3,164,000 in the previous year, representing a year-over-year increase in losses of 144.5%[4] - Basic and diluted loss per share for the period was HKD 0.53, compared to HKD 0.39 for the same period last year, indicating a 35.9% increase in loss per share[5] - Total comprehensive loss for the period was HKD 8,395,000, compared to HKD 2,944,000 in the previous year, reflecting a significant increase of 184.5%[4] - The company reported a total loss before tax of HKD 7,744,000 for the six months ended December 31, 2024, compared to a loss of HKD 3,164,000 for the same period in 2023[21] - The net loss attributable to the owners of the company for the same period was approximately HKD 7,200,000, an increase of 56.5% from HKD 4,600,000 in the previous year[68] Assets and Liabilities - Non-current assets decreased from HKD 20,725,000 as of June 30, 2024, to HKD 18,631,000 as of December 31, 2024, a decline of 10.1%[7] - Current assets decreased from HKD 38,660,000 to HKD 30,047,000, representing a reduction of 22.5%[7] - The company's total equity decreased from HKD 50,123,000 to HKD 41,728,000, a decline of 16.7%[8] - The company’s total assets as of December 31, 2024, amounted to HKD 48,678,000, while total liabilities were HKD 6,950,000[23] - Total trade receivables as of December 31, 2024, were HKD 1,433,000, down from HKD 5,090,000 as of June 30, 2024, indicating a significant reduction in outstanding receivables[35] Revenue Breakdown - Revenue from renewable energy (recycled oil/biodiesel trade) was HKD 27,312,000, down 22.7% from HKD 35,315,000 in the previous year[21] - The construction waste trade generated revenue of HKD 1,455,000, a decrease of 11.3% from HKD 1,640,000 in the prior period[17] - Revenue from the renewable energy segment was approximately HKD 27,300,000, down 22.7% from HKD 35,300,000 in the same period last year[70] - The construction waste and processing services segment generated revenue of approximately HKD 2,300,000, an increase from HKD 2,000,000 in the previous year[71] - The plastic recycling and metal waste segment recorded revenue of approximately HKD 1,700,000, up from HKD 1,200,000, but the net loss increased by 22% to approximately HKD 2,800,000[72] Inventory and Receivables - The company reported a significant decrease in inventory from HKD 1,817,000 to HKD 223,000, a drop of 87.8%[7] - Trade receivables also saw a decline from HKD 4,949,000 to HKD 1,433,000, a decrease of 71.1%[7] - Inventory levels decreased from HKD 1,817,000 as of June 30, 2024, to HKD 223,000 as of December 31, 2024, indicating a substantial reduction in stock[33] Employee and Operational Costs - Employee costs, including director remuneration, increased to HKD 7,608,000 from HKD 7,192,000 year-over-year[25] - Interest income from loans was HKD 67,000, down from HKD 101,000 in the previous year[17] Corporate Governance and Compliance - The company has adopted the corporate governance code and has complied with all principles and applicable code provisions during the reporting period, with a noted deviation regarding the separation of the roles of Chairman and CEO[90] - The company has established an audit committee in compliance with corporate governance requirements, reviewing accounting principles, risk management systems, and financial reporting matters[94] Future Outlook and Market Conditions - The outlook for 2025 indicates potential oversupply in the oil market due to increased production from non-OPEC+ countries and moderate demand growth[85] - The European Commission will impose temporary tariffs on biodiesel imports from China starting August 2024, affecting the demand outlook for Asian used cooking oil methyl ester (UCOME) in the EU[86] - The German plastic recycling industry is expected to reach a critical point in 2024 due to a weak macroeconomic environment, significant demand drop, and price pressures from cheap virgin plastics[86] - Market experts predict that a sustained recovery in the recycling market may not occur until 2026, indicating a challenging year ahead for many companies, especially small to medium-sized recyclers[86] - The company is reassessing the commercial viability of its German plastic recycling operations to better allocate resources and funding in light of industry challenges[86] Dividends and Shareholder Information - The company did not declare an interim dividend for the six months ended December 31, 2024, consistent with the previous period where no dividend was paid[31] - The board of directors does not recommend the payment of an interim dividend for the six months ending December 31, 2024[89] Subsidiary and Asset Management - The company sold 100% equity of its subsidiary, Choi Fook Limited, for HKD 600,000, with HKD 300,000 received in the first phase[43] - The company confirmed a gain of HKD 569,000 from the sale of the subsidiary[44] - The lending business was conducted through its subsidiary, Choi Fook Limited, which has been sold to reallocate resources to more profitable ventures[67] Business Operations and Strategy - The company is engaged in the trading of construction waste and providing material processing services, indicating a focus on sustainable practices[10] - The renewable energy business focuses on trading recycled oil and biodiesel, certified under the International Sustainability and Carbon Certificate (ISCC)[46] - The company has established a local supplier network in Hong Kong, securing exclusive rights to collect waste cooking oil from restaurant suppliers[56] - The construction waste and processing services have been stable in Germany, with long-term relationships built with local partners[57] - The company has expanded its operations team to enhance customer engagement and procurement capabilities in the renewable energy sector[52] - The company has set up its own storage and processing facility for waste cooking oil in Hong Kong, obtaining necessary permits[53] Share Placement and Capital Management - The group completed a placement of 220,000,000 shares at a price of HKD 0.128 per share, raising approximately HKD 27,760,000 net of expenses[76] - The planned use of the net proceeds from the placement includes HKD 22.21 million for working capital and HKD 5.55 million for business development[78] - The group has no significant capital commitments or contingent liabilities as of December 31, 2024[83][84]

Financial Performance - The Group's total revenue from continuing operations for FY2024 was approximately HK$71.0 million, representing a decrease of 11.3% compared to FY2023's revenue of approximately HK$80.0 million[10][13]. - Revenue from the renewable energy segment was approximately HK$62.2 million in FY2024, down from approximately HK$73.1 million in FY2023, primarily due to weaker demand and falling oil prices[14]. - The decrease in overall revenue was attributed to reduced oil demand in Europe following the EU's anti-dumping investigation on Chinese biodiesel imports and increased freight rates[13]. - The net loss attributable to the owners of the Company for FY2024 was approximately HK$14.3 million, representing a 58.9% year-on-year increase from approximately HK$9.0 million in FY2023[89]. - Shipping costs increased by approximately HK$1.7 million in FY2024, significantly eroding profit margins in the renewable energy segment[91]. - Total expenditures for FY2024, excluding finance costs, were approximately HK$47 million, down from approximately HK$50.9 million in FY2023[101]. Business Segments - The Group has discontinued its healthcare business as of June 2023, focusing on renewable energy, waste construction materials, plastic recycling, and money lending[12]. - The Group's operations are primarily engaged in renewable energy, waste processing, and recycling services, reflecting a strategic shift post-healthcare business disposal[12]. - The revenue from the waste construction materials segment was approximately HK$3.9 million for FY2024, slightly down from HK$4.1 million in FY2023[15]. - The plastic recycling/metal scrap segment recorded revenue of approximately HK$2.9 million for FY2024, an increase from HK$2.6 million in FY2023[15]. - The money lending business generated revenue of approximately HK$0.2 million for both FY2024 and FY2023, indicating no growth[16]. Market Conditions - The Group's financial performance indicates challenges in the renewable energy market, necessitating potential strategic adjustments[10]. - The Group's revenue decline highlights the impact of external market conditions on its operations, particularly in the European market[13]. - Future outlook may involve exploring new markets or enhancing existing services to mitigate revenue declines in the renewable energy sector[10]. - The global economy is expected to remain uncertain throughout 2024, with slow growth and tight financial conditions anticipated[16]. - The German plastics manufacturing industry declined significantly for the second consecutive year in 2023 due to high energy prices and increased production costs[16]. - The Group anticipates continued volatility in 2024 due to geopolitical tensions and slow global economic activity[16]. Strategic Planning - The Group's management is expected to address these challenges in upcoming strategic planning sessions[10]. - The Group plans to maintain a cautious and conservative approach regarding the credit quality of new lending amid global economic volatility[16]. - The Group plans to reassess the viability of its plastics recycling business in Germany due to ongoing challenges and pressure from cheap virgin plastics imports[18]. - The outlook for the plastics recycling industry remains negative, with hopes for a national plastic tax diminishing as policymakers have postponed addressing this issue until 2025[18]. Corporate Governance - The Company has a strong board of directors with diverse backgrounds in finance, accounting, and corporate governance, enhancing its strategic decision-making capabilities[28]. - The Company is focused on expanding its market presence and enhancing its financial management through experienced leadership[30]. - The management team is committed to maintaining compliance with regulatory obligations while pursuing growth opportunities in the market[33]. - The Company emphasizes transparency, independence, accountability, responsibility, and fairness in its corporate governance practices[192]. - The Company has complied with all applicable code provisions under the Corporate Governance Code throughout FY2024, with exceptions noted in the Corporate Governance Report[182]. Risk Management - The financial risk management objectives and policies of the Group are outlined in the Management Discussion and Analysis section of the annual report[122]. - The Group is exposed to foreign currency risks due to operations in Hong Kong and Germany, with revenues and expenditures primarily in US dollars and euros[113][115]. - The Group will continue to monitor loan recoverability and conduct checks on collateral value to prevent significant deterioration over time[78]. Leadership and Management - Mr. Luo has over 17 years of experience in asset restructuring and corporate finance, previously serving as CEO of China Regenerative Medicine International Limited from December 2009 to August 2012[25]. - Mr. Ho Wai Hung, appointed as an executive director on March 12, 2018, has extensive experience in accounting and finance, particularly in the money lending business[26]. - The roles of chairman and chief executive officer are currently performed by the same individual, Mr. Lo Kam Wing JP, which the Board believes provides strong leadership[192]. - The Board consists of a combination of executive Directors and independent non-executive Directors, with recent appointments made on July 13, 2023, and August 9, 2023[199]. Shareholder Information - The Company has maintained appropriate directors and officers liability insurance cover throughout the year[169]. - The largest customer accounted for 21% of the Group's sales, while the five largest customers combined represented 67%[168]. - The largest supplier contributed to 37% of the Group's purchases, with the five largest suppliers together making up 43%[168]. - As of June 30, 2024, the total number of issued ordinary shares of the Company is 1,356,308,176 shares[180].

Financial Performance - Revenue for the year ended June 30, 2024, was HKD 71,020,000, a decrease of 11.3% from HKD 80,026,000 in 2023[2] - The loss from continuing operations for the year was HKD 14,117,000, compared to a loss of HKD 5,229,000 in the previous year, representing a significant increase in losses[2] - The total comprehensive loss for the year was HKD 14,847,000, up from HKD 10,328,000 in 2023, indicating a worsening financial position[2] - Basic and diluted loss per share from continuing operations was HKD 1.13, compared to HKD 0.54 in the previous year[3] - The company reported a pre-tax loss of HKD 69,000 for the year ended June 30, 2024, compared to HKD 380,000 in 2023[23] - The company reported a basic and diluted loss per share of HKD 11.29 for the fiscal year 2024, compared to HKD 7.95 for the fiscal year 2023, reflecting an increase in loss of approximately 42.9%[27] - The net loss attributable to the owners of the company for the fiscal year 2024 was approximately HKD 14,300,000, an increase of 58.9% from approximately HKD 9,000,000 in the fiscal year 2023[55] Assets and Liabilities - Current assets increased to HKD 38,660,000 from HKD 26,130,000, reflecting improved liquidity[4] - Net current assets rose to HKD 31,963,000, up from HKD 17,671,000, indicating a stronger working capital position[4] - Total assets decreased to HKD 52,688,000 from HKD 42,228,000, while total liabilities also decreased, leading to an increase in net assets[5] - The company's equity increased to HKD 50,123,000 from HKD 38,441,000, showing growth in shareholder value[5] - Total liabilities decreased to HKD 9,262,000 in 2024 from HKD 12,246,000 in 2023, a decline of 24.3%[18] Revenue Segments - The group reported total revenue of HKD 71,020 thousand for the fiscal year ending June 30, 2024, with a significant contribution from renewable energy and plastic recycling segments[15] - The renewable energy segment generated revenue of HKD 62,158 thousand, while the plastic recycling segment contributed HKD 3,908 thousand[15] - Revenue from renewable energy segment was HKD 62,158,000, down from HKD 73,116,000, representing a decline of 15.0%[22] - The construction waste and processing services segment generated revenue of approximately HKD 3.9 million in FY2024, compared to HKD 4.1 million in FY2023[57] - The plastic recycling/metal waste segment recorded revenue of approximately HKD 2.9 million in FY2024, an increase from HKD 2.6 million in FY2023, despite challenges from fluctuating raw material prices and competition from cheaper new plastics[58] Cost Management - The company reported a significant reduction in employee costs to HKD 14,791,000 from HKD 17,065,000, reflecting cost-cutting measures[2] - The company’s employee costs decreased to HKD 14,791,000 in 2024 from HKD 17,065,000 in 2023, a reduction of 13.3%[24] - Total expenses (excluding financial costs) for FY2024 were approximately HKD 47 million, down from HKD 50.9 million in FY2023, with employee costs decreasing by HKD 2.3 million[61] Strategic Initiatives - The company is focusing on new product development and market expansion strategies to improve future performance[6] - The renewable energy business has established a strong network and partnerships, enhancing the company's ability to secure stable supply and meet customer demands[31] - The company has expanded its operational team to improve procurement capabilities and customer engagement in the renewable energy sector[35] - The company has successfully set up its own storage and processing facility for waste cooking oil in Hong Kong, obtaining the necessary permits for operations[36] - The company has begun collecting waste cooking oil using its own fleet of collection vehicles in Hong Kong, enhancing logistics capabilities[37] - The construction waste and processing services have established stable operations in Germany, building long-term relationships with local partners and clients[39] Market Conditions - The global economy is expected to remain uncertain throughout 2024, with slow growth anticipated due to geopolitical tensions and tight financial conditions[70] - The EU has proposed tariffs ranging from 12.8% to 36.4% on biodiesel imports from China, which may negatively impact the UCOME market[70] - The German plastic recycling sector continues to face challenges, with low demand from construction and automotive industries, leading to a reassessment of business viability[71] - The group plans to explore new business opportunities to enhance revenue sources amid a volatile global economy[71] Corporate Governance - The audit committee consists of three independent non-executive directors who reviewed the group's annual performance[79] - The financial results for the year ending June 30, 2024, have been verified by the auditor, but no assurance is provided on the preliminary announcement[80] Dividend Policy - The company does not recommend any dividend distribution for the fiscal years ending June 30, 2024, and June 30, 2023[8] - No dividends are recommended for the fiscal year ending June 30, 2024, and the previous year[74]

Financial Performance - Revenue for the six months ended December 31, 2023, was HKD 38,625,000, a decrease of 13% compared to HKD 44,404,000 for the same period in 2022[8]. - The company reported a loss before tax of HKD 3,164,000, an improvement from a loss of HKD 7,432,000 in the previous year[8]. - Total comprehensive loss for the period was HKD 2,944,000, compared to HKD 9,265,000 in the same period last year, indicating a significant reduction in losses[10]. - The basic and diluted loss per share for continuing operations was HKD 0.39, an improvement from HKD 0.72 in the previous year[10]. - The company reported a loss attributable to owners of HKD 9,470,000 for the period, compared to a loss of HKD 7,432,000 in the previous year, indicating an increase in losses of approximately 27.5%[14]. - The total comprehensive loss for the period was HKD 8,999,000, which includes a foreign exchange gain of HKD 471,000[14]. - The pre-tax loss for the six months ended December 31, 2023, was HKD 4,574,000, compared to a loss of HKD 9,470,000 for the same period in 2022, reflecting a 51.7% improvement[34]. - The net loss attributable to the owners of the company for the same period was approximately HKD 4,600,000, a reduction of 51.6% from HKD 9,500,000 in the previous year[82]. Cash Flow and Liquidity - The company’s cash and cash equivalents increased to HKD 26,821,000 from HKD 14,849,000, reflecting a strong liquidity position[12]. - The cash used in operating activities was HKD 13,494,000, an increase from HKD 9,774,000 in the previous year, reflecting a worsening cash flow situation[16]. - The cash and cash equivalents at the end of the period increased to HKD 26,821,000 from HKD 23,170,000, showing a net increase of HKD 3,651,000[18]. - The company raised HKD 27,760,000 from the issuance of share capital during the period, significantly improving its financing activities[18]. Assets and Liabilities - As of December 31, 2023, total assets amounted to HKD 71,252,000, an increase from HKD 50,687,000 as of June 30, 2023, representing a growth of approximately 40.6%[32]. - Total liabilities as of December 31, 2023, were HKD 9,196,000, down from HKD 12,246,000 as of June 30, 2023, indicating a reduction of about 25.0%[32]. - The company’s total equity decreased to HKD 33,855,000 as of July 1, 2023, down from HKD 43,120,000 at the end of 2022, reflecting a decline in shareholder value[14]. Revenue Segments - Revenue from the renewable energy segment (recycled oil/biodiesel trade) was HKD 35,315,000, down 14% from HKD 41,045,000 year-on-year[24]. - The construction waste trade segment generated revenue of HKD 1,640,000, an increase of 19% from HKD 1,374,000 in the previous year[24]. - The total revenue from discontinued operations was HKD 0, down from HKD 1,754,000 in the previous year[24]. - The renewable energy segment recorded revenue of approximately HKD 35,300,000, down about 13.9% from HKD 41,000,000 in the prior year, primarily due to weak demand for biodiesel[83]. - The construction waste and processing services segment generated revenue of approximately HKD 2,000,000, a slight decrease from HKD 2,100,000 in the previous year due to intense local competition[84]. - The plastic recycling and metal waste segment recorded revenue of approximately HKD 1,200,000, unchanged from the previous year, facing significant challenges due to weak demand and price pressures[86]. Operational Developments - The company plans to focus on market expansion and new product development to drive future growth[7]. - The company has established a strong network in the renewable energy sector, focusing on the trade of recycled oil and biodiesel since 2017[55]. - The company has built solid relationships with reputable consulting and brokerage firms, enhancing its market access and customer acquisition in the renewable energy business[56]. - The company has established its own storage and processing plant in Hong Kong for waste cooking oil, obtaining the necessary permits for operations[61]. - A dedicated fleet for collecting waste cooking oil has been set up in Hong Kong, with plans to expand the fleet as the economy recovers[62]. - The company has strengthened its operational team by hiring additional staff with experience in the waste cooking oil market, enhancing its procurement capabilities[66]. - The company has ceased high-end plastic recycling operations in Japan since April 2022 due to a prolonged shortage of raw materials[68]. Corporate Governance and Compliance - The company has adopted a new stock option plan, terminating the old plan established in 2006, with no impact on unexercised options from the old plan[112]. - The board believes that having the same person serve as both Chairman and CEO can enhance leadership and improve business decision-making efficiency[114]. - An audit committee has been established in accordance with listing rules, reviewing accounting principles, risk management systems, and financial reporting matters[118]. - All directors have confirmed compliance with the standard code of conduct for securities trading throughout the reporting period[117]. Future Outlook - The outlook for 2024 indicates a potential slowdown in global GDP growth due to high interest rates and economic uncertainties, with challenges anticipated in the renewable energy sector, particularly in the European biodiesel market[101]. - The company plans to reassess the commercial viability of its plastic recycling operations in Germany due to ongoing market challenges and intends to allocate resources more effectively[102]. - The company is exploring new business opportunities, including the launch of an iron ore business in late February 2024, leveraging its existing connections in the metal scrap trading sector[102].

Financial Performance - Revenue for the six months ended December 31, 2023, was HKD 38,625,000, a decrease of 13% compared to HKD 44,404,000 for the same period in 2022[4] - Other income decreased significantly to HKD 149,000 from HKD 1,191,000, representing an 87% decline[4] - The gross loss for the period was HKD 3,164,000, an improvement from a loss of HKD 7,432,000 in the previous year, indicating a 57% reduction in losses[4] - The total comprehensive loss for the period was HKD 2,944,000, compared to HKD 9,265,000 in the prior year, reflecting a 68% improvement[7] - Basic and diluted loss per share for continuing operations was HKD 0.39, down from HKD 0.72 in the previous year[9] - The group reported a loss before tax of HKD 3,164,000 for the six months ended December 31, 2023, compared to a loss of HKD 9,666,000 for the same period in 2022[25] - The net loss attributable to the owners of the company for the six months ended December 31, 2023, was approximately HKD 4,600,000, a reduction of 51.6% from HKD 9,500,000 in the same period last year[86] Assets and Liabilities - Non-current assets decreased to HKD 22,985,000 from HKD 24,557,000, a decline of 6%[10] - Current assets increased significantly to HKD 48,267,000 from HKD 26,130,000, representing an 85% increase[10] - The total assets of the group as of December 31, 2023, amounted to HKD 71,252,000, with total liabilities of HKD 9,196,000[27] - The group’s total liabilities include trade payables and accrued expenses amounting to HKD 6,402,000 from continuing operations[27] - The company reported a total liability of HKD 12,246 million, with segment liabilities at HKD 7,162 million[29] Revenue Segments - Total revenue from continuing operations for the six months ended December 31, 2023, was HKD 38,625,000, a decrease of 13.4% compared to HKD 44,404,000 for the same period in 2022[21] - Revenue from the renewable energy segment (recycled oil/biodiesel trade) was HKD 35,315,000, down 13.9% from HKD 41,045,000 in the previous year[24] - The construction waste trade segment generated revenue of HKD 1,970,000, a decrease of 4.6% from HKD 2,066,000 in the same period last year[24] - The renewable energy business segment achieved a threefold increase in net profit due to the strategic shift towards high-value operations in the collection and processing of waste cooking oil[86] - Construction waste and processing services generated revenue of approximately HKD 2 million, a slight decrease from HKD 2.1 million due to intense regional competition[88] - The plastic recycling and metal waste segment maintained revenue at approximately HKD 1.2 million, facing significant challenges from weak demand and rising costs[90] - The lending business reported stable revenue of approximately HKD 100,000, with a cautious approach to new loans due to tightening financing conditions[91] Operational Developments - The company continues to focus on its core business activities, including construction waste trading and recycling services, while exploring new market opportunities[13] - The renewable energy business has established a strong network for sourcing waste cooking oil and biodiesel, enhancing supply stability and customer satisfaction[55] - The group has expanded its operational team in Hong Kong to improve procurement capabilities and customer outreach in the waste cooking oil market[60] - A new storage and processing facility for waste cooking oil has been successfully established in Hong Kong, enhancing operational capacity[61] - The group has begun collecting waste cooking oil using its own fleet of collection vehicles, improving logistics and operational efficiency[62] - The construction waste and processing services business in Germany has established stable operations and long-term relationships with local partners and customers[65] Employee and Cost Management - Employee costs for the six months ended December 31, 2023, were HKD 7,192 million, a decrease of 20.2% from HKD 9,006 million in the same period of 2022[32] - As of December 31, 2023, the company had 35 employees, a decrease from 37 employees as of June 30, 2023[107] Financial Strategy and Future Outlook - The company anticipates a slowdown in global GDP growth in 2024 due to high interest rates and economic uncertainty, but expects a recovery in the Asian waste cooking oil market[104] - The company has no significant capital commitments or contingent liabilities as of December 31, 2023[102][103] - The company is reassessing the commercial viability of its plastic recycling business in Germany due to significant challenges and pressures in the industry, with expectations for 2024 to remain challenging[106] Share Capital and Dividends - The issued share capital increased to HKD 135,631,000 after the placement of 220,000,000 shares at a price of HKD 0.128 per share, aimed at providing additional working capital[50] - The company did not declare an interim dividend for the six months ended December 31, 2023, consistent with the previous year[38] - The board of directors does not recommend the payment of an interim dividend for the six months ending December 31, 2023[108] Compliance and Risk Management - The group has not adopted any new or revised Hong Kong Financial Reporting Standards that may impact the financial statements significantly[18] - The group is currently evaluating the potential impact of future new or revised Hong Kong Financial Reporting Standards but has not yet estimated their effects[18] - The audit committee has reviewed the accounting principles and policies adopted by the group and discussed risk management systems and financial reporting matters[113]

Financial Performance - The Group's total revenue for FY2023 was approximately HK$82.5 million, a decrease of 81.3% compared to FY2022's revenue of approximately HK$441.3 million[13]. - Revenue from the renewable energy segment, specifically trading and processing of recyclable oil/biodiesel, was approximately HK$73.1 million in FY2023, down from approximately HK$424.2 million in FY2022, reflecting a drop of 82.8%[15]. - The revenue from the waste construction materials and processing service segment was approximately HK$4.1 million for FY2023, down from approximately HK$5.2 million in FY2022, reflecting a decrease of 21.2% due to a lack of incoming materials and intense regional competition[24]. - The plastic recycling and metal scrap business recorded revenue of approximately HK$2.6 million for FY2023, down from approximately HK$4.2 million in FY2022, indicating a decline of 38.1% due to market uncertainties and high price volatility[27]. - The healthcare business generated revenue of approximately HK$2.5 million for FY2023, significantly lower than approximately HK$7.6 million in FY2022, marking a decrease of 67.1% before the subsidiary was sold in June 2023[31]. - The money lending business reported revenue of approximately HK$0.2 million for FY2023, a new revenue stream compared to nil in FY2022, amid tighter financing conditions and anticipated credit risks[30]. - The net loss attributable to owners of the Company for FY2023 was approximately HK$9.0 million, a 67.5% year-on-year reduction from HK$27.7 million in FY2022[122]. - Total revenue for FY2023 was approximately HK$82.5 million, representing an 81.3% decrease compared to HK$441.3 million in FY2022[121]. - Revenue from the renewable energy segment was approximately HK$73.1 million, down 82.8% from HK$424.2 million in FY2022, while net profit for this segment increased by 35.9% to HK$5.3 million[124]. - The healthcare business recorded a revenue of approximately HK$2.5 million for FY2023, down from HK$7.6 million in FY2022, with a net loss of approximately HK$4.8 million, a 42.2% reduction year-on-year[133]. - Revenue from the plastic recycling/metal scrap sector was approximately HK$2.6 million, a 38.1% decrease from HK$4.2 million in FY2022, with a net loss of approximately HK$4.9 million[130]. - The waste construction materials and processing service segment reported revenue of approximately HK$4.1 million, down from HK$5.2 million in FY2022, with a net profit of approximately HK$0.3 million[125]. Strategic Initiatives - The strategic shift to processing and sales of used cooking oils resulted in a net profit of HK$5.3 million for FY2023, compared to HK$3.9 million in FY2022[23]. - The Group established its own storage and processing factory for used cooking oils in 2022, enhancing its local supplier network in Hong Kong[22]. - The Group's focus on the sales of palm oil mill effluent methyl ester in FY2022 was a response to the adverse impacts of the coronavirus pandemic, despite lower profit margins[22]. - The Group's strategic focus on local collection and processing of used cooking oil aims to improve profitability amidst challenging market conditions[22]. - The Group has established its own storage and processing facility for used cooking oil, aiming to enhance revenue sources despite challenging economic conditions[25]. - The Group has built a local supplier network and secured exclusive rights to collect used cooking oils from food and beverage providers in Hong Kong[93]. - The Group has expanded its operational team by hiring additional staff with relevant experience in the collection and trading of used cooking oils[90]. - The Group's renewable energy business is expected to see increased gross margins as it shifts its strategy towards collecting and processing used cooking oil[41]. - The Group may take necessary actions to minimize losses in certain business segments to preserve funding for renewable energy development and potential new projects[46]. Market Conditions - Oil prices experienced significant volatility in 2022, impacting profit margins in the renewable energy segment due to reduced prices of used cooking oil[21]. - The global economy is gradually recovering from the pandemic, but significant downside risks remain, with signs of low growth amid stubborn inflation and rising interest rates[37]. - The European market for recycled plastic is under severe pressure, with demand for mechanically recycled polymers at its lowest in several years, impacting producer margins[28]. - The ongoing geopolitical tensions, particularly between the U.S. and China, could impede trade and investments, affecting the Group's operations[43]. - The global economic recovery remains weak, with signs indicating a loss of momentum in global activity due to ongoing high inflation and tightening monetary policy[40]. - Demand for used cooking oil (UCO) for biodiesel production is expected to increase, particularly from the European Union, due to changes in climate legislation and new proposals[38]. - The market for used cooking oil (UCO) is expected to grow due to increased demand from the European Union, driven by revised climate legislation and new proposals[41]. - The plastic recyclables market is facing severe pressure, with prices declining due to low demand and cheaper virgin material prices, impacting consumption and demand significantly[42]. Operational Efficiency - The Group has engaged in renewable energy, waste construction materials, plastic recycling, money lending, and discontinued healthcare business after June 2023[75][79]. - The Group has been actively involved in the waste construction materials and processing service since 2007, establishing stable operations and long-term relationships in Germany[94]. - The Group has ceased its high-grade plastic recycling operations in Japan since April 2022 due to a shortage of feedstock supply[104]. - Legal and professional fees were reduced by approximately HK$4.5 million due to stringent cost control measures[122]. - The closure of the Japanese plastic recycling plant resulted in savings of approximately HK$1.5 million, while the discontinued healthcare operations saved approximately HK$5.0 million in expenditures[139]. - Total expenditures for FY2023 were approximately HK$50.9 million, slightly down from approximately HK$52.6 million in FY2022, with transportation costs increasing to approximately HK$12.0 million from approximately HK$1.4 million[138]. - The Group has adopted a cautious approach in assessing and approving new loans to mitigate credit risk amid economic uncertainties[119]. Governance and Compliance - The Group maintains high standards of operating practices and complies with relevant laws and regulations, ensuring quality control and responsible business practices[171]. - The Group's financial risk management objectives and policies are detailed in the consolidated financial statements[168]. - The Group's compliance procedures ensure adherence to applicable laws, rules, and regulations, with relevant changes communicated to employees[171]. - The company has received annual confirmations of independence from all independent non-executive directors, who are considered independent[188]. - The Directors do not recommend the payment of any dividend for the years ended June 30, 2023, and 2022, indicating a focus on retaining earnings for future growth[159]. Leadership and Human Resources - Mr. Luo Xian Ping has over 17 years of experience in asset restructuring and corporate finance[58]. - Mr. Ho Wai Hung has extensive experience in accounting and finance, particularly in the money lending business[59]. - Mr. Tam Chun Wa has more than 30 years of experience in auditing, accounting, tax, investment banking, and company secretarial works[63]. - Mr. Man Kwok Leung has over 20 years of financial and compliance experience related to listed companies in Hong Kong[65]. - The company has a diverse board with members holding various advanced degrees and certifications in finance and accounting[57][64][66]. - The Group had 37 employees as of June 30, 2023, down from 57 employees as of June 30, 2022, reflecting a strategic move to streamline operations[150].

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，概不對因本公佈全部或任 何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。本公佈僅 供參考，並不構成購入、購買或認購本公司任何證券之邀請或要約。 GREEN ENERGY GROUP LIMITED 綠 色 能 源 科 技 集 團 有 限 公 司 * （於百慕達註冊成立之有限公司） （股份代號：979） 截至二零二三年六月三十日止年度之 全年業績公佈 綠色能源科技集團有限公司（「本公司」）之董事會（「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年度之經審核綜合業績，連同 去年之比較數字如下： ...

Financial Performance - Revenue for the six months ended December 31, 2022, was HKD 46,158,000, a decrease of 77.25% compared to HKD 202,778,000 for the same period in 2021[7]. - The company reported a loss before tax of HKD 9,666,000, improving from a loss of HKD 13,796,000 in the previous year, representing a 29.5% reduction in losses[7]. - Total comprehensive loss for the period was HKD 9,265,000, compared to HKD 14,608,000 in the prior year, indicating a 36.5% improvement[7]. - Basic and diluted loss per share was HKD 0.83, down from HKD 1.04 in the same period last year[7]. - The company reported a cash flow from operating activities of HKD (9,764) thousand for the six months ended December 31, 2022, compared to HKD (3,432) thousand for the same period in 2021, indicating a significant increase in cash outflow[13]. - The company reported a pre-tax loss of HKD (9,666) thousand for the six months ended December 31, 2022, an improvement from a loss of HKD (13,796) thousand in the same period of 2021[13]. - The company reported a loss attributable to owners of the company of HKD 9,470,000 for the six months ended December 31, 2022, compared to a loss of HKD 11,835,000 for the same period in 2021, representing a 20% improvement in loss[31]. Asset and Liability Management - Non-current assets decreased to HKD 21,667,000 from HKD 26,496,000, reflecting a decline of 18.3%[9]. - Current assets decreased to HKD 36,047,000 from HKD 45,100,000, a reduction of 20.1%[9]. - Cash and cash equivalents were HKD 23,170,000, down from HKD 33,566,000, representing a decrease of 30.9%[9]. - Total equity attributable to owners of the company was HKD 41,567,000, down from HKD 50,566,000, a decline of 17.6%[9]. - Total assets as of December 31, 2022, amounted to HKD 57,714,000, down from HKD 71,596,000 as of June 30, 2022[24]. - Total liabilities decreased to HKD 23,859,000 from HKD 28,476,000, indicating a reduction in financial obligations[24]. Revenue Breakdown - Revenue from the recycling oil/biodiesel trade decreased to HKD 41,045 thousand in 2022 from HKD 193,152 thousand in 2021, reflecting a decline of approximately 78.7%[21]. - The construction waste processing segment generated revenue of HKD 2,066,000, down 34.6% from HKD 3,164,000 in the prior year[23]. - Renewable energy segment revenue decreased significantly to HKD 41,045,000 from HKD 193,152,000, reflecting a decline of 78.8%[23]. - The healthcare segment reported revenue of approximately HKD 1,800,000, down approximately 58.1% from HKD 4,300,000 in the same period last year, attributed to strict COVID-19 policies in China affecting operations[65]. - The plastic recycling and metal waste segment recorded revenue of approximately HKD 1,200,000, representing a decline of approximately 42.9% from HKD 2,100,000 in the previous year, primarily due to a continuous lack of raw material supply in Germany[62]. Operational Efficiency and Strategy - The company is focusing on improving operational efficiency and exploring new market opportunities to enhance future performance[7]. - The segment performance showed a loss of HKD 3,671,000, compared to a loss of HKD 5,045,000 in the previous year, indicating an improvement in operational efficiency[23]. - The company has expanded its operational team for renewable energy business to 13 employees in 2022, aiming to further increase the total number of employees in this sector in 2023[42]. - The company has established strong relationships with reputable consulting and brokerage firms, enhancing its ability to access new customers in the renewable energy market[37]. - The company has been actively building a local supplier network and has secured exclusive rights to collect waste cooking oil from local catering suppliers in Hong Kong[44]. Employee and Corporate Governance - Employee costs for the six months were HKD 9,927,000, a decrease of 13.5% from HKD 11,471,000 in the previous year[25]. - The group employs 52 staff members as of December 31, 2022, down from 57 as of June 30, 2022, and offers a competitive remuneration package to encourage employee performance[75]. - The company did not declare an interim dividend for the six months ended December 31, 2022, consistent with the previous year[29]. - The board believes that having the same person serve as both chairman and CEO can enhance leadership and decision-making efficiency[83]. Market Conditions and Future Outlook - The group anticipates a challenging year in 2023 for the global economy, with significant impacts from the COVID-19 pandemic and geopolitical tensions affecting supply chains and trade[72]. - The group adopted a more cautious approach to new loans due to negative macroeconomic trends, including ongoing global inflation and tightening monetary policies[63]. - The group plans to reassess the commercial viability of its plastic recycling business in Germany due to ongoing raw material supply shortages and rising energy costs[74].

Financial Performance - Total revenue for the fiscal year 2022 reached approximately HKD 441,300,000, a significant increase of over 700% compared to HKD 60,300,000 in the fiscal year 2021[20] - The healthcare segment recorded revenue of approximately HKD 7,600,000 in the fiscal year 2022, a significant increase from HKD 2,100,000 in the fiscal year 2021[30] - The net loss attributable to shareholders for the fiscal year 2022 was approximately HKD 27.7 million, an increase of 30.7% from HKD 21.2 million in the fiscal year 2021[80] - Total expenses (excluding financial costs) for the fiscal year 2022 amounted to approximately HKD 52.6 million, up from HKD 41.2 million in the fiscal year 2021, with employee costs rising to approximately HKD 22.3 million[89] - The company recorded a foreign exchange loss of approximately HKD 1.4 million in fiscal year 2022, compared to a foreign exchange gain of HKD 2.6 million in fiscal year 2021[81] Revenue Segments - Revenue from the renewable energy segment was approximately HKD 424,200,000, up from HKD 46,000,000 in the previous fiscal year, driven by a rebound in global biofuel production[22] - The construction waste and processing services segment generated revenue of about HKD 5,200,000, maintaining a similar level to HKD 5,000,000 in the fiscal year 2021 despite challenging economic conditions[25] - The plastic recycling and metal waste segment recorded revenue of approximately HKD 4,200,000, down from HKD 7,200,000 in the previous year, impacted by supply shortages and operational challenges due to the pandemic[26] - Revenue from renewable energy and biodiesel trading and processing reached approximately HKD 424.2 million in the fiscal year 2022, a more than sevenfold increase compared to HKD 46 million in the fiscal year 2021[82] - Revenue from the plastic recycling and metal waste segment decreased by 41.7% to approximately HKD 4.2 million in the fiscal year 2022, down from HKD 7.2 million in the fiscal year 2021, primarily due to raw material shortages[86] Operational Developments - The company established its own storage and processing facility in Hong Kong for waste cooking oil, which began operations in the second quarter of 2022[24] - The company expanded its customer base for renewable energy products to Southeast Asia and China, benefiting from lower transportation costs[22] - The company is focusing on selling palm waste biodiesel, while still considering waste cooking oil sales as a significant revenue source once pandemic-related challenges ease[24] - The company is building a local supplier network in Hong Kong to secure exclusive rights for collecting waste cooking oil[24] - The company expanded its operational team to 13 employees in the renewable energy business to enhance customer outreach and procurement capabilities[59] Market Outlook - The European biofuel market is expected to grow, with new renewable energy targets set for 2030, which may positively impact the company's renewable energy segment[22] - The renewable energy sector is projected to experience unprecedented growth, with renewable energy currently providing about 7% of global energy demand[33] - The global economic outlook remains volatile due to inflation, rising interest rates, and geopolitical risks, which may impact business operations[32] - The European Union has set a legally binding commitment to achieve net-zero greenhouse gas emissions by 2050, which is expected to drive demand for renewable energy[33] Strategic Focus - The company is committed to focusing on renewable energy business development and investment to capture potential growth in the industry[36] - The company plans to utilize approximately HKD 10 million for the development of its plastic recycling business and HKD 8 million for future renewable energy opportunities[94] - The company will maintain a cautious and proactive approach in managing operational and credit risks while pursuing diversified strategies for stable business development[36] Corporate Governance - The company has adopted corporate governance practices in compliance with the Hong Kong Stock Exchange Listing Rules, ensuring transparency and accountability[144] - The audit committee consists of three independent non-executive directors, serving as a communication bridge between the board and the auditors[128] - The board consists of executive directors and independent non-executive directors, with a total of six members as of June 30, 2022[146] - The company has implemented policies to promote environmental protection and resource conservation, aligning with its business objectives[133] - The company encourages continuous professional development for directors, keeping them informed about relevant laws and regulations[152] Human Resources - The group employed 57 staff as of June 30, 2022, an increase from 54 staff in the previous year[100] - The remuneration policy for employees is based on merit, qualifications, and capabilities, ensuring competitive compensation[131] - The remuneration details for senior management for the fiscal year ending June 30, 2022, indicate one individual received between HKD 0 to 1,000,000 and another between HKD 1,000,001 to 2,000,000[184] Risk Management - The board confirmed its responsibility for maintaining effective risk management and internal control systems, which are reviewed at least annually[192] - The internal audit function is deemed sufficient and appropriately positioned within the company, with annual reviews conducted by the audit committee[196] - The audit committee is responsible for reviewing the adequacy and effectiveness of the company's risk management and internal audit procedures[196] Shareholder Information - Major shareholders include New Glory Business Corporation with 23.57% and Rich Bay Global Limited with 12.96% of the issued share capital as of June 30, 2022[123] - The largest customer accounted for 36% of the group's sales, while the top five customers collectively represented 87%[119] - The largest supplier accounted for 98% of the group's procurement, with the top five suppliers together accounting for 99%[119]

Financial Performance - Revenue for the six months ended December 31, 2021, was HKD 202,778,000, a significant increase of 404% compared to HKD 40,159,000 for the same period in 2020[8] - The company reported a loss before tax of HKD 13,796,000, which is a 51% increase from the loss of HKD 9,114,000 in the previous year[8] - Total comprehensive loss for the period was HKD 14,608,000, compared to HKD 7,486,000 in the same period last year, reflecting a 95% increase in losses[8] - Basic and diluted loss per share was HKD 1.04, up from HKD 0.72 in the prior year[8] - The company reported a loss attributable to owners of HKD 11,835,000 for the six months ended December 31, 2021, compared to a loss of HKD 8,136,000 for the same period in 2020[32] - The group faced a net loss attributable to shareholders of approximately HKD 11.8 million, an increase of 46% from HKD 8.1 million in the same period of 2020[49] Assets and Liabilities - Current assets increased to HKD 62,102,000 from HKD 56,069,000, representing an increase of 10%[10] - Total assets less current liabilities decreased to HKD 63,585,000 from HKD 78,131,000, a decline of 19%[10] - The company's equity attributable to owners was HKD 68,018,000, down from HKD 80,873,000, indicating a decrease of 16%[10] - Total assets as of December 31, 2021, amounted to HKD 94,439,000, an increase from HKD 90,208,000 as of June 30, 2021[26] - The total liabilities as of December 31, 2021, were HKD 31,153,000, up from HKD 12,314,000 as of June 30, 2021[26] - As of December 31, 2021, the total current assets of the group were approximately HKD 62,100,000, an increase from HKD 56,100,000 as of June 30, 2021, while total current liabilities rose to approximately HKD 30,900,000 from HKD 12,100,000[54] Cash Flow and Financial Management - For the six months ended December 31, 2021, the company reported a cash flow from operating activities of (HKD 3,434,000), compared to (HKD 5,815,000) for the same period in 2020, indicating an improvement of 40.9%[15] - The company experienced a net cash decrease of HKD 4,542,000 for the six months ended December 31, 2021, compared to a decrease of HKD 9,948,000 in the same period of 2020, showing a 54.4% improvement[17] - The cash and cash equivalents at December 31, 2021, were HKD 36,031,000, down from HKD 62,079,000 at the same date in 2020, a decrease of 41.9%[17] - The company’s cash and cash equivalents were reported at HKD 25,401,000 as of December 31, 2021[26] Revenue Segments - The company’s revenue from the renewable energy segment was HKD 193,152,000 for the six months ended December 31, 2021, compared to HKD 33,649,000 in the same period of 2020, marking a growth of 474.5%[20] - The healthcare segment recorded revenue of approximately HKD 4.3 million, significantly up from HKD 400,000 in the same period of 2020, despite facing losses of approximately HKD 5.4 million due to increased personnel costs and asset depreciation[53] - The construction waste and processing services segment saw revenue increase by approximately 33% to HKD 3.2 million from HKD 2.4 million, attributed to established relationships with local construction companies[50] - The plastic recycling and metal waste segment reported revenue of approximately HKD 2.1 million, a 43% decline from HKD 3.7 million in the previous year, due to raw material supply shortages in Germany and Japan[50] Operational Plans and Developments - The company has plans for market expansion and new product development, although specific details were not disclosed in the report[8] - The group plans to expand its operational team, increasing the number of employees in the renewable energy sector to 11, enhancing customer outreach and procurement capabilities[44] - A storage and processing factory for waste cooking oil is planned to be established in Hong Kong, with operations expected to commence in the first half of 2022[44] - The group intends to purchase approximately 10 waste cooking oil collection vehicles, aiming to establish a local supplier network and secure contracts with local restaurants[45] - The group has been actively recruiting experienced staff for its renewable energy operations to enhance its market presence[44] Corporate Governance and Shareholder Information - The company did not recommend the payment of an interim dividend for the six months ended December 31, 2021, consistent with the previous year[32] - Major shareholders include New Glory Business Corporation with 267,829,436 shares, representing approximately 23.57% of the issued share capital[67] - Rich Bay Global Limited and associated entities hold 147,244,000 shares, accounting for approximately 12.96% of the issued share capital[67] - The company has adopted a new share option scheme, replacing the old scheme established in 2006[69] - The board believes that having the same person serve as both chairman and CEO can enhance leadership and decision-making efficiency[69] Compliance and Reporting - The company has not applied any new or revised Hong Kong Financial Reporting Standards that have been issued but are not yet effective, and it is currently assessing their potential impact[19] - The audit committee has reviewed the accounting principles and policies adopted by the group, including the unaudited interim financial statements for the six months ended December 31, 2021[69] - The interim report is available on the Hong Kong Stock Exchange and the company's website[69]