Financial Performance - The company reported a revenue of HKD 1.2 billion for the fiscal year 2024, representing a 15% increase compared to the previous year[2]. - The company reported a net profit margin of 12%, up from 10% in the previous year[2]. - The company recorded revenue of approximately HKD 36.0 million for the year ended December 31, 2024, a decrease of 68.4% compared to HKD 114.0 million for the year ended December 31, 2023[23]. - The annual loss for the year ended December 31, 2024, was approximately HKD 165.1 million, significantly increasing from a loss of approximately HKD 46.4 million for the year ended December 31, 2023[23]. - The company reported a loss attributable to equity holders of approximately HKD 165.1 million for the year ended December 31, 2024, compared to a loss of HKD 46.4 million in 2023[49]. - The company aims to maintain core businesses that can generate reliable returns and have competitive advantages while seeking opportunities to enhance revenue and profitability[22]. Market and User Growth - User data showed a growth of 25% in active users, reaching 500,000 by the end of the fiscal year[2]. - Market expansion efforts have led to a 20% increase in market share in the Asia-Pacific region[2]. - New product launches contributed to 30% of total revenue, with three major products introduced in the last quarter[2]. - The company provided a forward guidance of 10% revenue growth for the next fiscal year, projecting revenues to reach HKD 1.32 billion[2]. Cost Management and Expenses - Operating expenses were reduced by 5% through cost optimization strategies implemented during the year[2]. - General and administrative expenses decreased to approximately HKD 39.4 million for the year ended December 31, 2024, down from approximately HKD 61.5 million for the year ended December 31, 2023[23]. - Sales and distribution costs decreased to zero for the year ended December 31, 2024, down from approximately HKD 7.1 million for the year ended December 31, 2023[23]. - Operating expenses for the year ended December 31, 2024, totaled approximately HKD 39.4 million, down from HKD 68.6 million in 2023, primarily due to a significant reduction in general office expenses and professional fees[48]. Business Segments and Performance - The main businesses for the company include integrated circuit and semiconductor component design and sales, private jet management, and manufacturing and sales of yachts and related businesses[22]. - The integrated circuit and semiconductor segment recorded revenue of approximately HKD 31.0 million for the year ending December 31, 2024, up from HKD 25.2 million in 2023, but incurred a loss of HKD 0.1 million compared to a loss of HKD 0.6 million in the previous year[31]. - The yacht business reported revenue of approximately HKD 5 million for the year ending December 31, 2024, down from HKD 88.8 million in 2023, with a significant loss of HKD 139.8 million compared to a loss of HKD 7.4 million in the previous year[36]. - The private jet management segment reported no revenue for the year ending December 31, 2024, but recognized a recovery of HKD 4.8 million from accounts receivable impairment, compared to a loss of HKD 5.4 million in 2023[32]. Strategic Initiatives - The company is investing HKD 200 million in R&D for new technologies aimed at enhancing user experience[2]. - The company is exploring potential acquisitions to further strengthen its market position, with a focus on tech startups[2]. - A new strategic partnership was formed with a leading tech firm to co-develop innovative solutions[2]. - The group plans to shift from a capital-intensive business model to a light-asset, service-oriented model to mitigate business risks in the yacht sector[36]. Environmental, Social, and Governance (ESG) Initiatives - The company is committed to ESG initiatives and has established a governance framework to assess and manage ESG-related risks and opportunities[79]. - The company aims to achieve a greenhouse gas emission density of 0.56 tons of CO2 equivalent per employee by the fiscal year 2024[91]. - The company has set an energy consumption density target of 1.13 megawatt-hours per employee for the fiscal year 2024[91]. - The company plans to maintain a waste generation density of 2.86 tons per employee by the fiscal year 2024[91]. - Total greenhouse gas emissions for the fiscal year 2024 are reported at 20.26 tons of CO2 equivalent, a decrease from 53.58 tons in the previous fiscal year[97]. Employee and Workforce Management - The total number of employees as of December 31, 2024, was approximately 36, down from 42 in 2023, with total employee benefit expenses amounting to approximately HKD 27.8 million, compared to HKD 30.3 million in 2023[66]. - Overall employee turnover rate for FY2024 was 17%, with male turnover at 11% and female turnover at 24%[121]. - Employee satisfaction and morale are supported by competitive compensation and benefits, including mandatory social insurance in China and MPF contributions in Hong Kong[122]. - The company provided approximately 30 hours of training during the reporting period, with an average training time of 0.83 hours per trained employee[131]. Compliance and Governance - The company has maintained compliance with relevant laws and regulations, with no significant violations reported during the fiscal year[175]. - The company has implemented measures to ensure compliance with anti-corruption policies and has provided training to directors and employees[167]. - The company has a remuneration policy for employees that is regularly reviewed by the board, considering contributions, qualifications, and market conditions[179]. - The company has not reported any significant violations of employment-related laws that would have a major impact on its operations[117].

Financial Performance - The company reported total revenue of HKD 36,034,000 for the year ending December 31, 2024, a decrease of 68.4% compared to HKD 113,970,000 in 2023[3]. - The gross profit for the year was HKD 21,626,000, down 53.1% from HKD 46,088,000 in the previous year[3]. - The company incurred a loss before tax of HKD 164,565,000, compared to a loss of HKD 44,254,000 in 2023, representing a significant increase in losses[3]. - The total comprehensive loss for the year amounted to HKD 165,229,000, compared to HKD 50,144,000 in the prior year, indicating a worsening financial position[4]. - The group reported a net loss attributable to equity holders of approximately HKD 165.1 million for the year ending December 31, 2024, compared to a loss of HKD 46.4 million in 2023[63]. - The company recorded an annual loss of approximately HKD 165.1 million for the fiscal year ending December 31, 2024, significantly increasing from a loss of approximately HKD 46.4 million in the previous year[49]. Assets and Liabilities - Current liabilities totaled HKD 354,921,000, slightly down from HKD 362,668,000 in 2023, while the net current liabilities increased to HKD 162,763,000[5]. - The company has a negative equity of HKD 127,985,000 as of December 31, 2024, compared to HKD 2,979,000 in 2023, indicating a deteriorating financial health[5]. - The group has a total asset value of HKD 227,591,000 and total liabilities of HKD 355,576,000[26]. - The group has an outstanding loan amount of approximately HKD 124.7 million as of December 31, 2024, compared to none in 2023[65]. - The debt ratio as of December 31, 2024, is 54.8%, attributed to the group's net debt situation, compared to zero in 2023[67]. Cash Flow and Liquidity - The company's cash and cash equivalents decreased to HKD 28,499,000 from HKD 69,107,000 in the previous year, reflecting liquidity challenges[5]. - Cash and cash equivalents as of December 31, 2024, totaled HKD 22.4 million, compared to HKD 21.7 million as of December 31, 2023[44]. - The company’s cash balance in frozen bank accounts decreased from approximately HKD 47.5 million to HKD 6.1 million due to a court ruling affecting a supplier[43]. - The group will continue to extend most of its maturing short-term interest-bearing borrowings in the foreseeable future[13]. Revenue Segmentation - The integrated circuit and semiconductor segment generated revenue of approximately HKD 31.0 million in 2024, up from HKD 25.2 million in 2023, but still faced competitive pressure on profit margins[54]. - The integrated circuit and semiconductor parts design and sales contributed 86% of total revenue, up from 22% in the previous year, while yacht manufacturing and sales accounted for 14%, down from 78%[61]. - Revenue from external customers for integrated circuits reached HKD 25,198 thousand, while yacht sales generated HKD 88,772 thousand, totaling HKD 113,970 thousand for the year ended December 31, 2023[27]. - Total revenue from customer contracts for integrated circuits in 2024 was HKD 31,034 thousand, up from HKD 25,198 thousand in 2023, while yacht sales dropped to HKD 5,000 thousand from HKD 88,772 thousand[31]. Impairment and Provisions - The company reported a significant increase in financial asset impairment losses, totaling HKD 69,616,000 compared to HKD 5,990,000 in 2023[3]. - The impairment losses recognized for accounts receivable and inventory amounted to approximately HKD 67.5 million and HKD 58.7 million, respectively, for the fiscal year ending December 31, 2024[49]. - The group recorded an impairment provision of HKD 58,657,000 for inventory[26]. - The company recorded a significant increase in inventory impairment provisions, rising to HKD 58,657 thousand in 2024 from HKD 14,529 thousand in 2023[34]. Operational Segments - The group has five reportable operating segments, including integrated circuits design and sales, private jet management, yacht manufacturing, real estate investment, and corporate functions[22][23]. - The group recorded a segment loss of approximately HKD 139.8 million in the yacht business for the year ending December 31, 2024, compared to a loss of HKD 7.4 million in 2023[57]. - The group has no recorded revenue from real estate investments for the year ending December 31, 2024, resulting in a segment loss of approximately HKD 1.8 million, slightly higher than the loss of HKD 1.5 million in 2023[58]. Shareholder and Corporate Actions - A shareholder has agreed to provide financial support for the company's ongoing operations, ensuring the ability to meet upcoming debt obligations[13]. - The group successfully placed 74,049,028 new shares, representing approximately 16.67% of the issued share capital, at a price of HKD 0.56 per share on January 17, 2024[64]. - The company issued a total of 444,294,170 shares as of December 31, 2024, after issuing 74,049,028 new shares for general working capital and business development[69]. - The company has not proposed any final dividend for the year ending December 31, 2024, consistent with no dividends in 2023[77]. Management and Governance - The independent auditor's report confirmed that the consolidated financial statements fairly reflect the group's financial position as of December 31, 2024[92]. - The audit committee consists of independent non-executive directors, ensuring oversight of the financial reporting process[90]. - The company has adopted the standard code for securities transactions by directors, confirming compliance as of December 31, 2024[87]. - The board expresses gratitude to the management team, employees, shareholders, and partners for their continued support[96]. Market Conditions - The global yacht sales market saw a decline, with new and second-hand yacht demand decreasing by 19% year-on-year, and total yacht transaction value dropping by 10%[51]. - The company aims to allocate more resources to the yacht business and other higher-margin new developments in response to increasing competition in the integrated circuit market[54]. - The group plans to transition from a capital-intensive business model to a light-asset, service-oriented model in the yacht business to mitigate risks[57]. - The group will continue to monitor market conditions and explore opportunities for collaboration and potential acquisitions to enhance financial performance and operational efficiency[57].

Financial Performance - For the fiscal year ending December 31, 2024, the company reported total revenue of HKD 36,034,000, a decrease of 68.4% compared to HKD 113,970,000 in the previous year[3] - The company incurred a gross loss of HKD 14,408,000, leading to a total loss before tax of HKD 164,565,000, which is a significant increase from the previous year's loss of HKD 44,254,000[3] - The net loss for the year was HKD 165,113,000, compared to a net loss of HKD 46,447,000 in the prior year, reflecting a year-over-year increase of 255.5%[3] - The group reported external customer revenue of HKD 36,034,000, with a significant loss in the yacht business amounting to HKD 139,882,000[26] - The group incurred a total operating loss of HKD 164,699,000 for the year, with specific losses in the yacht business and real estate investment segments[26] - The group recorded a segment loss of approximately HKD 139.8 million in the yacht business for the year ending December 31, 2024, compared to a loss of HKD 7.4 million in 2023[57] - The group experienced an annual loss attributable to equity holders of approximately HKD 165.1 million for the year ending December 31, 2024, compared to a loss of HKD 46.4 million in 2023[63] Financial Position - The company's total current liabilities amounted to HKD 354,921,000, with a net current liability of HKD 162,763,000, indicating financial strain[5] - Cash and cash equivalents decreased to HKD 28,499,000 from HKD 69,107,000, representing a decline of 58.8%[5] - The company's equity attributable to owners decreased to HKD 44,429,000 from HKD 37,025,000, while accumulated losses rose to HKD 307,972,000 from HKD 142,859,000[5] - The group has a total asset value of HKD 227,591,000 and total liabilities of HKD 355,576,000, reflecting a leveraged financial position[26] - The group has an outstanding loan amount of approximately HKD 124.7 million as of December 31, 2024, compared to none in 2023[65] - The debt ratio as of December 31, 2024, is 54.8%, attributed to the group's net debt situation, compared to zero in 2023[67] - As of December 31, 2024, the group's net current liabilities and net liabilities were approximately HKD 162,763,000 and HKD 127,985,000, respectively[93] Cash Flow and Liquidity - Cash and cash equivalents amounted to HKD 22.4 million as of December 31, 2024, compared to HKD 21.7 million in the previous year[44] - The company faced a decrease in cash from frozen bank accounts, which dropped from approximately HKD 47.5 million to HKD 6.1 million due to a court ruling[43] - The accounts payable over three months stood at HKD 99.9 million as of the reporting year-end, slightly decreasing from HKD 101.1 million in the previous year[45] - The group recorded a significant reduction in operating expenses to approximately HKD 39.4 million for the year ending December 31, 2024, down from HKD 68.6 million in 2023[62] Business Operations - The company is engaged in integrated circuit and semiconductor component design and sales, private jet management services, and yacht manufacturing and sales[7] - The integrated circuit and semiconductor segment generated revenue of approximately HKD 31.0 million, up from HKD 25.2 million in the previous year[54] - The global yacht sales market saw a decline of 19% in demand for new and used yachts compared to the previous year[51] - The company plans to focus more resources on the yacht business and other higher-margin new developments due to increasing competition in the integrated circuit market[54] - The group plans to closely monitor and manage administrative expenses and future capital expenditures to improve financial stability[13] Impairment and Provisions - The company reported a significant increase in financial asset impairment losses, totaling HKD 69,616,000, compared to HKD 5,990,000 in the previous year[3] - The company recorded a net impairment provision for inventories of HKD 58,657 thousand in 2024, compared to HKD 14,529 thousand in 2023, indicating increased challenges in inventory management[34] - The company reported impairment losses of approximately HKD 67.5 million on receivables and HKD 58.7 million on inventory for the year ending December 31, 2024[49] Future Outlook and Plans - The board believes that the company has sufficient financial resources to meet its obligations for at least the next fifteen months based on projected cash flows[11] - The group continues to assess its operational funding needs, projecting sufficient working capital for at least the next fifteen months[13] - A shareholder has agreed to provide financial support for the company's ongoing operations, ensuring the ability to meet upcoming debt obligations[13] - The company aims to enhance its revenue base and profitability by reallocating resources to promising business areas[52] Corporate Governance and Compliance - The independent auditor's report confirmed that the consolidated financial statements fairly reflect the group's financial position as of December 31, 2024[92] - The audit committee consists of two independent non-executive directors as of December 31, 2024[90] - The company has adopted the standard code for securities transactions by directors as per the listing rules[87] - The company maintained sufficient public float as required by listing rules for the year ended December 31, 2024[88] Shareholder Information - The company did not declare or recommend any dividends for the year ended December 31, 2024, consistent with 2023[38] - The company has not proposed any final dividend for the year ending December 31, 2024, consistent with no dividends in 2023[77] - The annual report for 2024 will be sent to shareholders and published on the stock exchange website[94] - The date for the annual general meeting will be announced in due course[95] Changes and Developments - The company has undergone a name change from "Balk 1798 Group Limited" to "Sky Blue 11 Company Limited" effective January 17, 2024[83] - The company maintained its operational focus despite significant challenges in the yacht business and integrated circuit market[54] - There were no significant acquisitions or disposals of subsidiaries or associates during the year ending December 31, 2024[71] - The company has not pledged any assets as of December 31, 2024, consistent with the previous year[70]

Financial Performance - For the six months ended June 30, 2024, the company recorded revenue of approximately HKD 16.0 million, a decrease of 84.3% compared to HKD 101.7 million for the same period in 2023[10]. - The company recorded a segment loss of approximately HKD 14.3 million for the six months ending June 30, 2024, compared to a segment profit of approximately HKD 12.7 million for the same period in 2023[18]. - The company reported a loss attributable to equity holders of approximately HKD 24.1 million for the six months ending June 30, 2024, compared to a loss of approximately HKD 0.9 million for the same period in 2023[23]. - The total comprehensive loss for the period was HKD 26,429,000, compared to HKD 9,552,000 in the same period last year, showing a worsening financial position[43]. - The group reported a net loss of HKD 24,126,000 for the six months ended June 30, 2024, compared to a net loss of HKD 926,000 for the same period in 2023, reflecting a worsening financial position[59]. Revenue Segments - The integrated circuit and semiconductor components segment generated revenue of approximately HKD 16.0 million with a segment loss of HKD 0.2 million, compared to revenue of HKD 12.9 million and a segment loss of HKD 1.0 million in the same period last year[14]. - The private jet management segment reported no revenue and a segment loss of HKD 0.03 million for the six months ended June 30, 2024, consistent with the previous year's performance[15]. - Revenue from external customers for the integrated circuit design and sales segment was HKD 15,957,000 for the six months ended June 30, 2024, compared to HKD 12,917,000 for the same period in 2023, representing a year-over-year increase of approximately 23.7%[56]. Cost Control and Business Strategy - The company is focusing on cost control in the integrated circuit and semiconductor business, platform development in private jet management, and active marketing for the yacht business to enhance competitiveness[10]. - The company has adopted a cautious approach in response to the complex business environment, aiming to maintain core businesses that generate reliable returns and have competitive advantages[10]. - Management emphasizes that business reforms are an ongoing process, with potential new measures or strategies being developed as opportunities arise[10]. - The company is prioritizing higher-margin core businesses while carefully allocating limited resources in the private jet management sector[15]. - Management is committed to diversifying the business and exploring new strategies to enhance revenue and long-term profitability[22]. Economic Impact - The ongoing economic recession has negatively impacted consumer purchasing power and demand for luxury goods, affecting the company's financial performance[10]. - The company has not sold any yachts during the reporting period due to the economic downturn in Hong Kong and China[10]. Shareholder Information - The company will keep shareholders informed of any updates regarding its strategies and business developments[10]. - The company did not declare any interim dividend for the six months ended June 30, 2024, consistent with the previous period[28]. - Major shareholders include Arrab Chalid and LLOYDS INVESTMENT GROUP FZCO, each holding 68,500,000 shares, representing 15.42% of the company[38]. Financial Position and Assets - The total equity as of June 30, 2024, was approximately HKD 10.8 million, compared to a shareholders' deficit of approximately HKD 3.0 million as of December 31, 2023[27]. - The group’s total assets as of June 30, 2024, were HKD 351,129,000, compared to HKD 412,709,000 as of June 30, 2023, indicating a decrease in total asset value[56]. - The group’s total liabilities increased to HKD 340,314,000 as of June 30, 2024, from HKD 375,096,000 as of June 30, 2023, suggesting a shift in financial leverage[59]. Cash Flow and Liquidity - As of June 30, 2024, the group's bank cash was approximately HKD 67.7 million, a slight decrease from HKD 69.1 million as of December 31, 2023, due to a court ruling freezing approximately RMB 43.4 million (equivalent to about HKD 46.5 million) in cash deposits[26]. - The company’s operating cash flow was negative at HKD (37,814) million, compared to a positive cash flow of HKD 1,977 million in the previous period[47]. - Cash and cash equivalents decreased from HKD 69,107 million to HKD 67,684 million, a decline of approximately 2.1%[47]. Employee and Management Information - Employee headcount increased to 47 as of June 30, 2024, from 42 as of December 31, 2023, with total employee benefit expenses amounting to approximately HKD 14.8 million for the six months ended June 30, 2024[28]. - The remuneration for key management personnel for the six months ended June 30, 2024, was HKD 2,674,000, a decrease of 8.6% from HKD 2,926,000 in the previous year[93]. Share Capital and Fundraising - The company completed a placement of 74,049,028 new shares on January 17, 2024, raising approximately HKD 40.0 million for general working capital purposes[26]. - The total issued and paid-up share capital increased to HKD 444,294,000 as of June 30, 2024, following the issuance of 74,049,028 new shares at HKD 0.56 per share[91]. - The net proceeds from the share placement, after deducting transaction costs of approximately HKD 1,244,000, amounted to about HKD 40,223,000, resulting in an increase in share capital of approximately HKD 7,404,000[91]. Compliance and Governance - The interim financial information was approved and authorized for publication by the board of directors on August 30, 2024[98]. - The audit committee, consisting of two independent non-executive directors, reviewed the interim results for the six months ended June 30, 2024[40].

Financial Performance - The company recorded revenue of approximately HKD 16.0 million for the six months ended June 30, 2024, a decrease of 84.3% compared to HKD 101.7 million for the same period in 2023[7]. - The yacht business reported no sales for the six months ended June 30, 2024, resulting in a segment loss of approximately HKD 14.3 million, while the same period in 2023 saw revenue of approximately HKD 88.8 million and a segment profit of approximately HKD 12.7 million[15]. - The loss attributable to equity holders for the six months ended June 30, 2024, was approximately HKD 24.1 million, significantly higher than HKD 0.9 million for the same period in 2023, resulting in a basic loss per share of HKD 5.51[20]. - The total comprehensive loss for the period was HKD 26,429,000, significantly higher than HKD 9,552,000 in the previous year[40]. - The group reported a net loss of HKD 24,126,000 for the six months ended June 30, 2024, compared to a net loss of HKD 926,000 for the same period in 2023, reflecting a worsening financial situation[53]. Business Segments - The integrated circuit and semiconductor components segment generated revenue of about HKD 16.0 million with a segment loss of HKD 0.2 million for the six months ended June 30, 2024, compared to revenue of HKD 12.9 million and a segment loss of HKD 1.0 million for the same period in 2023[11]. - The private jet management segment recorded a loss of approximately HKD 0.03 million for the six months ended June 30, 2024, compared to a loss of approximately HKD 0.06 million for the same period in 2023, with no revenue generated in both periods[12]. - Revenue from external customers for the integrated circuit design and sales segment was HKD 15,957,000 for the six months ended June 30, 2024, compared to HKD 12,917,000 for the same period in 2023, representing a growth of 23.7%[53]. Strategic Initiatives - The company has adopted a cautious approach in response to the complex business environment, focusing on maintaining core businesses that generate reliable returns and have competitive advantages[7]. - The company is actively promoting its yacht business and enhancing brand visibility as part of its strategy to strengthen market position[7]. - Management is committed to diversifying the business portfolio and exploring new opportunities across different segments to enhance revenue and long-term profitability[19]. - The company aims to prioritize higher-margin core businesses while cautiously evaluating the development of the private jet management segment[12]. Cost Management - The company is focusing on stringent cost control in the integrated circuit and semiconductor components business to enhance competitiveness[7]. - Operating expenses for the same period were approximately HKD 35.3 million, an increase of 8.6% from HKD 32.5 million in the prior year, primarily due to impairment losses on receivables of about HKD 12.0 million[20]. - The group’s employee benefits expenses, including director remuneration, were HKD 14,752,000 for the six months ended June 30, 2024, compared to HKD 17,309,000 in the same period of 2023, showing a reduction of 14.8%[63]. Shareholder Information - The board did not recommend any interim dividend for the six months ended June 30, 2024, consistent with the previous year[25]. - Major shareholders include 段洪濤 with 52,321,012 shares (11.78%) and Arrab Chalid with 68,500,000 shares (15.42%) as of June 30, 2024[35]. - The company issued 74,049,028 new shares at a price of HKD 0.56 per share, raising approximately HKD 40.0 million for general working capital purposes[23]. Cash Flow and Assets - The company reported a net cash outflow from operating activities of HKD 37,814 million for the six months ended June 30, 2024, compared to a cash inflow of HKD 1,977 million for the same period in 2023[44]. - Cash and cash equivalents decreased from HKD 69,107 million to HKD 67,684 million, a decline of approximately 2.1%[44]. - The total assets for the group as of June 30, 2024, were HKD 351,129,000, with liabilities totaling HKD 340,314,000, indicating a high debt-to-asset ratio[53]. Compliance and Governance - The company is currently seeking suitable candidates to fill independent non-executive director positions to comply with listing rules[28]. - The company has adopted the standard code for securities transactions by directors, confirming compliance as of June 30, 2024[33]. - The board of directors approved the interim financial information on August 30, 2024[95].

Financial Performance - The company reported a significant increase in revenue, achieving a total of $150 million for the fiscal year, representing a 25% growth compared to the previous year[2]. - The company recorded revenue of approximately HKD 114.0 million for the year ended December 31, 2023, a decrease of 37.1% compared to HKD 181.1 million for the year ended December 31, 2022[26]. - The annual loss for the year ended December 31, 2023, was approximately HKD 46.4 million, significantly increasing from a loss of HKD 2.2 million in the previous year[26]. - The group reported a loss attributable to equity holders of approximately HKD 46.4 million, compared to a loss of HKD 2.2 million in 2022, resulting in a basic loss per share of HKD 0.1254[62]. - For the fiscal year ending December 31, 2023, the group achieved revenue of approximately HKD 114.0 million, a decrease of 37% from HKD 181.1 million in 2022[58]. User Engagement and Market Expansion - User data showed a 30% increase in active users, reaching 1.2 million by the end of the fiscal year[2]. - The company is expanding its market presence in Southeast Asia, targeting a 15% market share within the next two years[2]. - The company plans to enhance its digital marketing strategy, allocating an additional $2 million to increase brand awareness[2]. Product Development and Innovation - New product launches included two innovative software solutions aimed at enhancing user experience, expected to contribute an additional $20 million in revenue[2]. - Research and development expenses increased by 40%, totaling $5 million, to support new technology initiatives[2]. Strategic Acquisitions and Investments - A strategic acquisition of a smaller tech firm was completed, valued at $10 million, aimed at bolstering the company's technology capabilities[2]. - The company plans to acquire B&W Beleggingen B.V. to invest in the development of a new shipyard at the Maritieme Servicehaven Noordeliike Flevoland (MSNF), focusing on the construction of superyachts and refurbishment work[30]. - The board believes that the acquisition of B&W Beleggingen B.V. will be a milestone for the yacht business, expanding revenue sources and enhancing the overall business portfolio[32]. Cost Management and Efficiency - The company is focusing on cost reduction and efficiency improvement across its business segments to create stable cash flow and promote sustainable business development[25]. - Sales and distribution costs decreased from approximately HKD 27.7 million for the year ended December 31, 2022, to approximately HKD 7.1 million for the year ended December 31, 2023[28]. - Financial costs reduced from approximately HKD 4.8 million in the previous year to approximately HKD 0.4 million in the current year[28]. - Operating expenses totaled approximately HKD 68.6 million, down from HKD 75.3 million in 2022, primarily due to a significant reduction in yacht-related agency fees[61]. Sustainability and ESG Commitment - The company emphasized its commitment to sustainability, with plans to reduce carbon emissions by 25% over the next five years[2]. - The ESG report covers the period from January 1, 2023, to December 31, 2023, detailing the company's commitment to sustainable development and corporate citizenship[82]. - The report quantifies environmental and social key performance indicators to provide stakeholders with a comprehensive understanding of the company's ESG performance[85]. - The total air pollutant emissions from company vehicles in 2023 were 3.87 kg of nitrogen oxides, 0.10 kg of sulfur oxides, and 0.29 kg of particulate matter, showing a decrease from 2022 levels[100]. - Total greenhouse gas emissions decreased to 53.58 tons of CO2 equivalent in 2023 from 65.9 tons in 2022, representing a reduction of approximately 18.0%[113]. Corporate Governance - The board of directors has confirmed that all resignations or non-renewals of directors during the fiscal year ending December 31, 2023, were not related to the company's affairs[168]. - The company has adopted the standard code for securities transactions by directors and confirmed compliance for the fiscal year ending December 31, 2023[179]. - The company has complied with the corporate governance code principles, with some deviations noted regarding the appointment and re-election of directors[193]. - The independent non-executive directors confirmed their independence in accordance with the listing rules[199]. Employee Management and Development - The company has maintained a zero fatality rate in workplace incidents over the past three years, with no reported work-related deaths[124]. - The company emphasizes employee training and development, covering costs for personal and professional training, although it currently lacks a training data recording system[122]. - The company has implemented a competitive compensation scheme and conducts annual performance evaluations to adjust salaries and bonuses based on employee performance and company results[120]. Market Challenges and Future Outlook - The company acknowledges ongoing challenges from the COVID-19 pandemic but remains confident in its future prospects and continuous growth[28]. - The yacht sales market experienced a decline of 29% in total sales revenue in 2023 compared to 2022, despite stable yacht prices, with second-hand and new yacht prices increasing by 39% and 11% respectively[29]. - The group faces risks related to market price fluctuations and competition in the yacht manufacturing sector, which could adversely affect business performance[52].

Financial Performance - The company reported a revenue of HKD 113,970,000 for the year ended December 31, 2023, a decrease of 37.0% compared to HKD 181,076,000 in 2022[3]. - The gross profit for the year was HKD 31,559,000, down 62.7% from HKD 84,595,000 in the previous year[3]. - The company incurred a net loss of HKD 46,447,000 for the year, compared to a loss of HKD 2,236,000 in 2022, representing a significant increase in losses[3]. - Total comprehensive loss for the year amounted to HKD 50,144,000, compared to HKD 19,728,000 in the prior year[4]. - The group reported external customer revenue of HKD 113,970,000 for the year ended December 31, 2023, a decrease of 37% from HKD 181,076,000 in 2022[21]. - The group experienced an operating loss of HKD 44,394,000 for the year ended December 31, 2023, compared to an operating profit of HKD 3,204,000 in 2022[19]. - The group recorded revenue of approximately HKD 88.8 million for the year ended December 31, 2023, down from HKD 119.8 million for the previous year, representing a decrease of about 26%[56]. - The group reported a net loss attributable to equity holders of approximately HKD 46.4 million for the year ended December 31, 2023, compared to a loss of HKD 2.2 million in the previous year, indicating a substantial increase in losses[65]. Assets and Liabilities - Current liabilities exceeded current assets by HKD 42,462,000, a decline from a net asset position of HKD 9,251,000 in 2022[6]. - The company’s cash and cash equivalents decreased to HKD 69,107,000 from HKD 104,326,000 in the previous year[6]. - The group’s total liabilities increased to HKD 364,658,000 as of December 31, 2023, compared to HKD 414,790,000 in 2022[19]. - As of December 31, 2023, the company's shareholders' deficit was approximately HKD 3.0 million, down from HKD 47.2 million in 2022[73]. - The group had a debt ratio of 0% as of December 31, 2023, a significant improvement from approximately 90% in the previous year, reflecting a net debt-free status[70]. - The company had a significant increase in accounts payable, rising to HKD 101.1 million as of December 31, 2023, from HKD 66.4 million as of December 31, 2022[37]. Cash Flow and Liquidity - The company has a significant amount of cash frozen in bank accounts, approximately RMB 43,437,000 (equivalent to about HKD 47,450,000)[9]. - The company plans to implement measures to improve its financial condition and liquidity[10]. - Cash and cash equivalents dropped to HKD 21.7 million as of December 31, 2023, down from HKD 104.3 million as of December 31, 2022[34]. - As of December 31, 2023, the group's cash balance was approximately HKD 69.1 million, down from HKD 104.3 million in the previous year, impacted by a court ruling that froze approximately RMB 43.4 million (equivalent to about HKD 47.5 million) in cash deposits[68]. Business Operations - The company operates in integrated circuit and semiconductor parts design and sales, private jet management services, and yacht manufacturing and sales[7]. - The yacht sales market experienced a decline of 29% in total sales revenue in 2023 compared to 2022, despite stable yacht prices, with second-hand and new yacht prices increasing by 39% and 11% respectively[44]. - The private jet management segment recorded no revenue for the year ending December 31, 2023, with a loss of approximately HKD 5.4 million, compared to revenue of HKD 26.8 million and a loss of HKD 0.1 million in 2022[52]. - The company plans to prioritize the development and expansion of its superyacht sales, after-sales services, luxury yacht rentals, onboard entertainment, and yacht tourism businesses[46]. - The company aims to leverage its expertise in manufacturing and selling superyachts to consider expanding into other vessel sectors, such as mega yachts, cruise ships, and cargo ships[46]. Capital Expenditure and Investments - The group’s capital expenditure for the year was HKD 5,486,000, significantly higher than HKD 2,525,000 in the previous year[19]. - The company signed a non-binding memorandum of understanding on November 7, 2023, to acquire B&W Beleggingen B.V., which holds a lease for a new port construction site named "Maritieme Servicehaven Noordeliike Flevoland" (MSNF)[44]. - The proposed acquisition aims to develop MSNF, including the construction of a new shipyard for manufacturing superyachts and conducting refurbishment work[46]. - The management believes that the acquisition of B&W Beleggingen B.V. will be a milestone for the company's yacht business, allowing it to enhance its service offerings and broaden its revenue sources[46]. Employee and Corporate Governance - The total employee count as of December 31, 2023, was approximately 42, a decrease from 140 in 2022, with total employee benefit expenses around HKD 30.3 million compared to HKD 32.8 million in 2022[83]. - The company has complied with the corporate governance code, with some deviations regarding the appointment and re-election of independent non-executive directors[85]. - The independent auditor's report confirmed that the consolidated financial statements fairly reflect the company's financial position as of December 31, 2023[104]. Future Outlook and Strategies - The company aims to maintain its core business that generates reliable returns and competitive advantages while seeking opportunities to enhance its revenue base and profitability[40]. - The company is optimistic about its future prospects and is committed to continuous growth despite ongoing challenges from the COVID-19 pandemic[43]. - The company is undergoing reforms to lower costs and improve efficiency across its business segments to create stable cash flow and promote sustainable business development[41]. - The company has implemented several expansion strategies, including expanding its shipyard in Hainan, establishing a research and development center in the Netherlands, and building sales teams in major cities worldwide[55].

智通财经APP讯，巴克1798集团(01010)发布公告，于2023年12月22日，公司拟以配售价每股配售股份0.56港元(较12月22日收市价每股0.690港元折让约18.8%)向目前预期不少于六名承配人配售最多7404.9万股新股份，相当于经悉数配发及发行配售股份扩大后已发行股份总数约16.67%。 假设所有配售股份获配售代理成功配售，则配售事项的最高所得款项总额估计约为4150万港元，而配售事项的最高所得款项净额估计约为4000万港元。公司拟将所得款项净额用作一般营运资金及业务发展。 ...

巴克1798集團有限公司 （股份代號：1010） （於百慕達註冊成立之有限公司） 2023 中期報告 (Incorporated in limited liability) (Stock code: 1010) Balk 1798 Group Limited 2023 Interim Report Interim Report 2023 中期報告 Balk 1798 Group Limited Bermuda with 2 公司資料 3 管理層討論及分析 9 其他資料 12 簡明綜合中期損益表 13 簡明綜合中期全面收益表 14 簡明綜合中期財務狀況表 15 簡明綜合中期權益變動表 16 簡明綜合中期現金流量表 17 簡明綜合中期財務資料附註 公司資料 董事會 執行董事 李微娜女士 張福民先生 王毅先生 附註1 張羽博士 附註2 獨立非執行董事 程晴女士 宋冬林博士 張盛東博士 巴克 1798 集團有限公司 目錄 目錄 1010 董事會委員會 核數委員會 程晴女士 （主席） 宋冬林博士 張盛東博士 提名委員會 宋冬林博士 （主席） 程晴女士 張盛東博士 薪酬委員會 宋冬林博士 （主席） 程晴女士 張盛東博士 ...

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， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不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。 1798 巴克 集團有限公司 （於百慕達註冊成立之有限公司） 1010 （股份代號： ） 截至二零二三年六月三十日止六個月 中期業績公佈 1798 巴克 集團有限公司（「本公司」）董事（「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」）截至二零二三年六月三十日止六個月之未審核簡明綜 合中期業績及財務狀況，連同去年同期之比較數字如下。本簡明綜合中期財務資料 尚未審核，但已由本公司核數委員會（「核數委員會」）審閱： 簡明綜合中期損益表 截至六月三十日止六個月 二零二三年 二零二二年 附註 （未審核） （未審核） 千港元 千港元 3 101,689 43,598 收益 (65,961) (24,150) 銷售成本 35,728 19,448 毛利 4 263 1,530 其他收入及收益，淨額 (5,555) (375) ...