Financial Performance - The Group's revenue decreased by approximately 13.1% to approximately HK$462.1 million from approximately HK$531.5 million for the year ended 31 December 2023[15]. - The Group recorded a net loss from continuing operations of approximately HK$68.4 million for the Year, compared to a profit of HK$17.9 million in the Previous Year, primarily due to a one-off loss on debt capitalisation of approximately HK$80.6 million[16]. - The sales of materials business generated approximately HK$461.8 million in revenue for the year ended December 31, 2024, compared to HK$530.3 million for the previous year, reflecting a decrease of about 12.9%[31]. - The Group recorded revenue from continuing operations of approximately HK$461.8 million, a decrease of 12.9% compared to the previous year (HK$530.5 million) due to intense competition[46]. - Gross profit from continuing operations decreased by HK$5.7 million to approximately HK$34.4 million, with a stable gross profit margin of 7.4% compared to 7.6% in the previous year[47]. - The Group's loss for the year from continuing operations attributable to the owners was approximately HK$76.6 million, compared to a profit of HK$6.4 million in the previous year[65]. Business Strategy and Development - The establishment of Hangzhou Junheng in October 2022 is expected to enhance the Group's sales network and customer base in the construction industry in the PRC[15]. - The management identified significant demand for building materials in Hangzhou, leveraging existing supply networks to explore new business opportunities[17]. - The Group is responsible for sourcing, procurement, quality control, and supplier selection for building materials, while Hangzhou Zhongji introduces customers and new projects[17]. - The Company remains confident in the long-term future of its sales of materials business despite challenges from inflation and price instability in building materials[17]. - The joint establishment of Hangzhou Junheng allows the Group to expand its sales channels and provide more business opportunities[17]. - The Group's strategy focuses on enhancing its sales network and customer base in the construction industry in the PRC[17]. - The management's exploration of other business opportunities is based on the existing supply of building materials[17]. - The significant demand for building materials in Hangzhou has been identified as a key opportunity for future growth[38]. Financial Position and Liabilities - As of December 31, 2023, the Group had net current liabilities of approximately HK$154.1 million and net liabilities of HK$63.9 million, facing challenges in seeking debt or equity financing[53]. - The Group entered into a settlement agreement to capitalize approximately HK$44.9 million of debt, issuing 896,993,536 capitalization shares at an issue price of HK$0.05 per share[54]. - The Debt Capitalisation resulted in a one-off loss of approximately HK$80.6 million during the year[58]. - The cumulative exchange reserve of approximately HK$8.8 million was released to the consolidated statement of profit or loss upon the disposal[61]. - As of December 31, 2024, the Group's total equity attributable to the owners was approximately HK$12.7 million, a significant improvement from a total deficit of HK$79.7 million as of December 31, 2023, primarily due to debt capitalisation during the year[73]. - The Group's current assets and current liabilities as of December 31, 2024, were approximately HK$105.7 million and HK$60.3 million, respectively, compared to HK$210.5 million and HK$364.5 million as of December 31, 2023[73]. - The Group's bank and cash balances increased to approximately HK$37.7 million as of December 31, 2024, up from HK$28.0 million as of December 31, 2023, with 98.0% in Renminbi and 2.0% in Hong Kong Dollar[75]. - The current ratio improved to 1.8 as of December 31, 2024, compared to 0.6 as of December 31, 2023, indicating better liquidity management[75]. - The Group's net cash position as of December 31, 2024, resulted in a gearing ratio that was not applicable, as net debts were negative at HK$28.4 million[72]. - Other borrowings decreased significantly from HK$200.6 million in 2023 to HK$4.3 million in 2024, reflecting a substantial reduction in debt[72]. Corporate Governance - The company complied with all applicable code provisions of the Corporate Governance Code for the year ended December 31, 2024, except for code provision C.2.1[166]. - The Board consists of three executive Directors, one non-executive Director, and three independent non-executive Directors[168]. - The Board meets regularly and at least four times a year, with attendance records provided for each director[173]. - The company has adopted the Model Code for Securities Transactions by Directors and confirmed compliance by all Directors during the year[167]. - The company emphasizes high levels of corporate governance to enhance shareholder value[165]. - The Board's composition reflects a balance of executive and independent non-executive Directors[168]. - The Audit Committee consists of three independent non-executive directors, with Mr. Liu Qin as the chairman, who resigned on April 22, 2025, and was succeeded by Ms. Xie Jiayang[198]. - The Audit Committee met twice during the year to review the consolidated financial statements for the year ended December 31, 2023, and the unaudited condensed consolidated financial information for the six months ended June 30, 2024[199]. - The primary duties of the Audit Committee include reviewing the financial reporting process and the effectiveness of the Group's internal controls and risk management[200]. Legal and Compliance Issues - The Group completed the disposal of its entire equity interests in two wholly-owned subsidiaries, representing the entire properties investment business, in September 2024[22]. - The disposal allows the Group to settle loans, reduce indebtedness, and improve its gearing ratio, addressing audit qualifications and legal encumbrances related to litigation[23]. - The Group's properties investment business has been classified as discontinued operations following the completion of the disposal[37]. - The Group did not engage in any currency hedging for the year, but management will monitor foreign currency exposure as needed[82]. - The Group's obligations under the Extended Loan became overdue on August 17, 2023, due to non-repayment[99]. - The audit qualification was primarily due to the outstanding consideration receivables, which the auditor deemed recoverability was uncertain as of 31 December 2023[116]. - Management believes that the consideration receivables can be recovered through negotiations and potential debt restructuring, although no agreements have been reached yet[117]. - The Group completed the disposal of Yingkou Subsidiaries in September 2024, which is expected to remove the audit qualification regarding consideration receivables for the year ending 31 December 2025[125]. - The Group is no longer a party to the litigation concerning repayment obligations after the disposal of Yingkou Subsidiaries, which alleviates legal encumbrances[132]. Economic and Market Risks - The Group faces significant economic risks due to its reliance on the global economic conditions, particularly in the United States, Mainland China, and Hong Kong[146]. - The Group's existing businesses operate in a competitive environment, which pressures revenue and profitability, prompting management to focus on increasing market share[148]. - The Group is exposed to customer risk due to reliance on a small number of customers, limiting its bargaining power[154]. - Financial risks related to foreign currency, interest rates, equity prices, liquidity, and credit risk are present in the Group's ordinary course of business[155]. - The Group has complied with relevant laws and regulations, with no material breaches reported during the Year[156]. - The Group is committed to environmental sustainability and adheres to local laws regarding environmental protection[158].

Financial Performance - For the fiscal year ending December 31, 2024, the company reported total revenue of HKD 461,848,000, a decrease of 12.9% compared to HKD 530,328,000 in 2023[2] - The gross profit for the year was HKD 40,069,000, representing a 16.5% increase from HKD 34,351,000 in the previous year[2] - The operating loss before tax for continuing operations was HKD 61,590,000, compared to a profit of HKD 27,405,000 in 2023[3] - The net loss attributable to the company for the year was HKD 76,602,000, compared to a profit of HKD 6,420,000 in the previous year[3] - The company reported a basic loss per share of HKD 7.21 for continuing operations, compared to a profit of HKD 1.18 in the previous year[3] - The company reported a total comprehensive loss of HKD 25,649,000 for the year ended December 31, 2024, compared to a loss of HKD 23,713,000 in 2023, representing an increase in loss of approximately 8.2%[4] - The group reported a loss before tax of HKD 26,278,000 for the year ended December 31, 2024, compared to a loss of HKD 42,170,000 for the previous year[29] - The group recognized a gain of HKD 78,477,000 from the sale of subsidiaries, which contributed to the overall financial performance[29] - The group’s other income from continuing operations was HKD 34,000 for the year ended December 31, 2024, consistent with the previous year[23] Assets and Liabilities - The company's total assets decreased to HKD 105,652,000 in 2024 from HKD 210,465,000 in 2023, indicating a reduction of about 49.9%[5] - The company's current liabilities increased to HKD 60,325,000 in 2024 from HKD 364,539,000 in 2023, reflecting a decrease of approximately 83.5%[6] - The company’s total liabilities decreased to HKD 60,325,000 in 2024 from HKD 364,539,000 in 2023, indicating a significant reduction of approximately 83.5%[6] - The company reported a net asset value of HKD 36,046,000 in 2024, compared to a negative net asset value of HKD 63,884,000 in 2023, showing a recovery[6] - The company’s equity attributable to owners decreased to HKD 71,969,000 in 2024 from HKD 27,120,000 in 2023, an increase of approximately 165.5%[6] - The company’s retained earnings showed a significant improvement, moving from a negative HKD 106,800,000 in 2023 to a negative HKD 59,227,000 in 2024, indicating a recovery of approximately 44.6%[6] Operational Strategies - The company has plans for market expansion and new product development in the upcoming fiscal year[2] - The company is focusing on enhancing operational efficiency to improve future profitability[2] - The company has initiated research and development for new technologies aimed at increasing market competitiveness[2] - The company is exploring potential mergers and acquisitions to expand its market presence[2] - The group aims to focus resources on the sales materials business to generate stable income and improve its capital structure[52] - The board is committed to exploring opportunities for investment in any business that can diversify revenue sources and strengthen the financial position of the group[53] - The management remains confident in the long-term prospects of the sales materials business despite challenges such as inflation and price volatility in construction materials[50] Discontinued Operations - The company completed the sale of two wholly-owned subsidiaries, EECIHK and EEML, on September 26, 2024, which are considered discontinued operations for the financial statements[9] - The group completed the sale of its property investment business in September 2024, resulting in the property investment segment being classified as discontinued operations for the current fiscal year[48][51] - The group’s financial performance for the property investment segment will no longer be presented independently following the sale[16] Cash Flow and Financing - The net cash flow from operating activities was HKD 18 million, a decrease from HKD 67 million in the previous year[31] - The company recorded a net cash outflow of HKD 87 million from the sale of subsidiaries[34] - The company entered into a debt capitalization agreement on January 25, 2024, agreeing to capitalize approximately HKD 44.9 million of debt, issuing 896,993,536 shares at a price of HKD 0.05 per share[58] - The group has sufficient financial resources to meet its ongoing operational needs, supported by liquid assets and unused loan facilities[68] Compliance and Governance - The financial statements are prepared in accordance with Hong Kong Financial Reporting Standards and presented in thousands of Hong Kong dollars[8] - The company has adopted new and revised Hong Kong Financial Reporting Standards effective from January 1, 2024, with no significant impact expected on current or future periods[12] - The group is currently reviewing its accounting policy disclosures to ensure compliance with new standards and interpretations[15] - The independent auditor's report indicates uncertainty regarding the recoverability of accounts receivable due to lack of financial information on debtors[93] - The independent auditor has expressed a qualified opinion based on the uncertainties surrounding accounts receivable and repayment obligations[94] - The board of directors includes three executive directors and three independent non-executive directors, ensuring governance and oversight[99] Employee and Operational Costs - The group’s employee costs, including directors' remuneration, amounted to HKD 5,737,000, slightly up from HKD 5,500,000 in the previous year[28] - Administrative and operating expenses increased to HKD 15.6 million from HKD 14.2 million in the previous year, primarily due to an increase in foreign exchange losses[56] - The group’s retirement benefit plan contributions decreased to HKD 59,000 from HKD 91,000 in the previous year[28] Market and Sales Performance - The company is primarily engaged in the sales materials business and property investment in the People's Republic of China[46] - The sales materials business generated revenue of approximately HKD 461.8 million for the fiscal year ending December 31, 2024, a decrease of 12.9% compared to HKD 530.3 million in the previous year[47][54] - The overall gross profit from continuing operations decreased to approximately HKD 34.4 million, down from HKD 40.1 million in the previous year, with a stable gross profit margin of 7.4% compared to 7.6% last year[55] Share Capital and Dividends - The company approved an increase in its authorized share capital from HKD 50,000,000 to HKD 500,000,000, allowing for the issuance of 9,000,000,000 additional shares[45] - The company did not declare any dividends for the year ending December 31, 2024, consistent with the previous year[35] - The board has resolved not to declare a final dividend for the current year, compared to no dividend declared last year[75] Risks and Uncertainties - There is uncertainty regarding the repayment obligations related to loans owed by the sold subsidiaries, as disclosed in the financial statements[94] - The group has not provided sufficient appropriate audit evidence to support the fair presentation of certain financial figures due to limitations in scope[96] - The group is taking various actions, including legal proceedings, to recover the accounts receivable from debtors[92] - The group has not engaged in any currency hedging instruments during the year, but management will monitor foreign exchange risks as necessary[71]

Financial Performance - For the six months ended June 30, 2024, the sales of materials generated revenue of approximately HK$227.3 million, a decrease of 6.9% compared to HK$242.3 million in the previous period[9]. - The Group recorded a revenue of approximately HK$227.4 million for the Period, representing a decrease of 6.2% compared to HK$242.4 million in the Previous Period[22]. - The gross profit for the Period decreased by HK$4.8 million to approximately HK$15.5 million, with the overall gross profit margin declining from 8.4% to 6.8%[25]. - The loss for the Period amounted to HK$87.9 million, a significant decline from a profit of HK$3.4 million in the Previous Period[34]. - The profit from operations decreased to HK$4.0 million, compared to HK$13.2 million in the previous year[67]. - The total comprehensive loss for the period amounted to HK$88,249,000, a decrease from a total comprehensive income of HK$3,120,000 in the prior year[69]. - The basic and diluted loss per share was HK$13.58, compared to HK$0.46 in the prior year[67]. Revenue and Sales Channels - The establishment of Hangzhou Junheng in October 2022 has allowed the Group to expand its sales channels and enhance its customer base in the construction industry in the PRC[13]. - The establishment of Hangzhou Junheng in October 2022 has led to substantial improvements in revenue generated from the supply of building materials[21]. - The Group is optimistic about the long-term prospects of its sales of materials business, focusing on consistent and sustainable growth[14]. Financial Position and Liabilities - As of June 30, 2024, the Group's total deficit attributable to the owners was approximately HK$46.7 million, a decrease from HK$79.7 million as of December 31, 2023, primarily due to debt capitalization during the period[38]. - The Group's current assets and current liabilities as of June 30, 2024, were approximately HK$247.7 million and HK$352.5 million, respectively, compared to HK$210.5 million and HK$364.5 million as of December 31, 2023[38]. - The Group's gearing ratio improved to 117.2% as of June 30, 2024, from 141.6% as of December 31, 2023[37]. - The Group's bank and cash balances were approximately HK$19.9 million as of June 30, 2024, down from HK$28.0 million as of December 31, 2023[41]. - The current ratio of the Group was 0.7 as of June 30, 2024, compared to 0.6 as of December 31, 2023[41]. - The Group's total liabilities as of June 30, 2024, were HK$361,582,000, compared to HK$368,488,000 as of December 31, 2023, showing a reduction of approximately 1.5%[105]. Financing and Debt Management - The Group's finance costs increased from HK$5.0 million in the Previous Period to HK$7.5 million due to a rise in average interest rates on borrowings[31]. - The company faced challenges in seeking debt or equity financing due to cautious investment sentiment and high prevailing interest rates in the debt market[52]. - The company entered into a settlement agreement on January 25, 2024, to capitalize approximately HK$44.9 million of debt owed to creditors, issuing 896,993,536 capitalization shares at an issue price of HK$0.05 per share[51][54]. - The company entered into loan facilities agreements with Mr. Pan and Mr. Zhou for HK$1.2 million and HK$0.4 million, respectively, which are unsecured, interest-free, and repayable in April 2026[168]. - The company aims to manage its liabilities effectively through share issuance and loan agreements with favorable terms[173]. Investment Properties and Fair Value - The Group recorded a fair value loss on investment properties amounting to HK$4.6 million for the Period, compared to no loss in the Previous Period[30]. - The Group's investment properties were valued at approximately HK$87.3 million as of June 30, 2024, down from HK$94.1 million as of December 31, 2023[41]. - The fair value of investment properties in the PRC decreased to HK$87,347,000 as of June 30, 2024, down from HK$94,118,000 as of December 31, 2023, reflecting a decline of approximately 7.8%[181]. Employee and Administrative Costs - The total staff costs for the period amounted to approximately HK$3.1 million, an increase from HK$2.9 million in the previous period[47]. - Administrative and operating expenses remained stable, increasing slightly from HK$7.1 million in the Previous Period to HK$7.2 million for the Period[28]. Share Capital and Equity - Share capital increased significantly to HK$71,969,000 as of June 30, 2024, from HK$27,120,000 at the beginning of the year, reflecting capital raising efforts[74]. - The total number of issued shares of the company as of June 30, 2024, is 1,439,385,743, with no treasury shares held[198]. - The company's authorized share capital increased by 9,000,000 shares to a total of 10,000,000 shares (equivalent to HK$500,000) as of June 30, 2024[160]. Future Outlook and Strategies - The Group aims to diversify revenue streams and strengthen its financial position by seeking investment opportunities when suitable[19]. - The management team believes in the sustainable growth of the Group and its ability to adjust business strategies according to market trends[19]. - The directors believe that the Group will have sufficient working capital to fulfill its financial obligations in the coming twelve months[89]. Legal and Compliance Matters - The Group received a civil judgment obligating it to repay the outstanding balance under the Extended Loan and accrued interest to the Bank[64]. - The recoverability of consideration receivables is uncertain and depends on the outcome of ongoing negotiations or litigations[58][59]. - The financial impact of the civil judgment on the company's financial information remains uncertain due to the inability to ascertain the repayment status of Lender A and other defendants[158].

Financial Performance - For the six months ended June 30, 2024, the company reported revenue of HKD 227,376,000, a decrease of 6.2% from HKD 242,428,000 in the same period of 2023[1]. - The gross profit for the same period was HKD 15,507,000, down 23.5% from HKD 20,270,000 year-on-year[1]. - The company incurred a loss before tax of HKD 84,234,000 compared to a profit of HKD 8,199,000 in the previous year[2]. - The net loss attributable to the owners of the company was HKD 92,387,000, significantly higher than the loss of HKD 2,500,000 in the prior period[3]. - Total comprehensive loss for the period was HKD 88,249,000, compared to a total comprehensive income of HKD 3,120,000 in the same period last year[4]. - The group reported external customer revenue of HKD 227,376 thousand for the six months ended June 30, 2024, compared to HKD 242,428 thousand for the same period in 2023, representing a decrease of approximately 6.2%[14]. - The company reported a basic loss per share of HKD (13.58) for the six months ended June 30, 2024, compared to HKD (0.46) for the same period in 2023[24]. - The group recorded a loss of HKD 87.9 million for the period, compared to a profit of HKD 3.4 million in the same period last year[44]. Assets and Liabilities - The company's total assets as of June 30, 2024, amounted to HKD 335,028,000, an increase from HKD 304,604,000 as of December 31, 2023[5]. - Current liabilities increased to HKD 352,498,000 from HKD 364,539,000 in the previous year[7]. - The company's current assets and current liabilities were approximately HKD 247.7 million and HKD 352.5 million, respectively, as of June 30, 2024, compared to HKD 210.5 million and HKD 364.5 million as of December 31, 2023[46]. - Total liabilities as of June 30, 2024, were HKD 361,582, compared to HKD 368,488 as of December 31, 2023[17]. - The company's trade receivables as of June 30, 2024, amounted to HKD 48,823, an increase of 42.3% from HKD 34,389 as of December 31, 2023[25]. - The company's net trade receivables after impairment provisions were HKD 47,719 as of June 30, 2024, compared to HKD 28,331 as of December 31, 2023, reflecting a growth of 68.5%[25]. - The company's other receivables, net of impairment provisions, were HKD 154,622 as of June 30, 2024, an increase from HKD 137,878 as of December 31, 2023[28]. - The company's cash and cash equivalents were approximately HKD 19.9 million as of June 30, 2024, down from HKD 28.0 million as of December 31, 2023[47]. Financial Position and Support - As of June 30, 2024, the group had a bank and cash balance of approximately HKD 19.9 million, insufficient to cover current liabilities of approximately HKD 352.5 million, indicating significant uncertainty regarding the group's ability to continue as a going concern[10]. - The group has received confirmation from its controlling shareholder to provide sufficient financial support to meet its financial obligations due within the next twelve months[10]. - The group's liquidity position raises concerns about its ability to realize assets and settle liabilities in the normal course of business[10]. - The group’s financial results have not been audited but have been reviewed by the audit committee[10]. Business Operations - The company is engaged in sales material business and property investment primarily in China[8]. - The company established Hangzhou Junheng Building Materials Co., Ltd. in October 2022 to expand its downstream business and improve financial performance[34]. - The company plans to explore business opportunities based on its existing building materials supply network in China, particularly in Hangzhou, which has significant demand for building materials[36]. - The group aims to focus resources on its sales materials business, which is expected to generate stable income and improve its financial position[37]. - The board will continue to seek opportunities to diversify revenue sources and strengthen the group's financial condition[37]. - The group is confident in its continued growth and believes its experienced management team can adjust business strategies according to market trends[37]. Capital and Shareholder Matters - The company approved a capital increase from HKD 50 million to HKD 500 million by issuing 9 billion new shares at a par value of HKD 0.05 per share[31]. - The company issued 896,993,536 capitalized shares on June 3, 2024, as part of a debt settlement agreement, with a debt amount of approximately HKD 44.9 million[31]. - The company is awaiting shareholder approval for the sale of two wholly-owned subsidiaries for a total consideration of HKD 2[32]. - The company has conditionally agreed to sell all shares of two wholly-owned subsidiaries for a total consideration of HKD 2 million[60]. - The board has decided not to declare any interim dividends for this period, consistent with the previous year[56]. Compliance and Governance - The company has complied with all applicable provisions of the Corporate Governance Code, except for the separation of roles between the Chairman and the CEO[62]. - The company has established an Audit Committee consisting of three independent non-executive directors, with the committee's recommendations formally approved by the board[65]. - The interim financial information for the period has not been audited but has been reviewed by the Audit Committee[65]. - The interim results announcement is available on the company's website and the Hong Kong Stock Exchange[66].

Financial Performance - The Group's revenue increased by approximately 97.2% to approximately HK$531.5 million from approximately HK$269.6 million for the year ended December 31, 2022[11]. - The Group recorded a net loss of approximately HK$24.3 million for the Year, a significant improvement from a net loss of HK$252.4 million in the Previous Year[12]. - The absence of impairment loss on loan and interest receivables during the Year contributed to the reduced net loss, compared to an impairment loss of HK$215.3 million in the Previous Year[12]. - The Group recorded a revenue of approximately HK$531.5 million for the Year, representing a 97.2% increase compared to HK$269.6 million in the Previous Year[51]. - The significant revenue increase was primarily due to the establishment of Hangzhou Junheng in October 2022, which focuses on supplying building materials for construction and renovation projects in the PRC[52]. - The Group's gross profit increased by HK$24.5 million to approximately HK$41.2 million, with the gross profit margin rising from 6.2% to 7.8%[53]. - The Group's loss for the year attributable to the owners was approximately HK$35.8 million, a significant improvement from a loss of HK$257.0 million in the previous year[80][84]. Business Development and Strategy - The establishment of Hangzhou Junheng Building Materials Company Limited in October 2022 enhanced the Group's sales network and customer base in the construction industry in the PRC[11]. - The Group identified significant demand for building materials in Hangzhou, leveraging its existing supply network[17]. - The management explored other business opportunities despite challenges from inflation and price instability in building materials[17]. - The Group's collaboration with Hangzhou Zhongji allows for sourcing, procurement, and quality control of building materials, while introducing customers and new projects[17]. - The Group aims to expand its sales channels and enhance business opportunities in the supply of materials business through the establishment of Hangzhou Junheng[17]. - The Group's prospects look promising due to the enhanced sales network and customer base in the construction industry in the PRC[17]. - The Group aims to diversify its business and broaden income sources by exploring new business opportunities and optimizing resource allocation[19]. - The Group has successfully entered the aluminum supply chain industry and is transitioning to a comprehensive supplier of aluminum-related products and building materials[43]. - The Group's strategic focus includes enhancing value-added services in its supply of aluminum-related products[43]. - The Group's sales of materials business has shown a continuous improvement trend since the establishment of Hangzhou Junheng and the optimization of COVID-19 control policies[21]. Financial Management and Capital Structure - The Group's total borrowings as of December 31, 2023, included RMB 200.6 million and HK$44.9 million, with all borrowings bearing fixed interest rates[86]. - The gearing ratios as of December 31, 2023, and 2022 were monitored to assess the capital structure, calculated as net debt divided by total capital[87]. - The Group's capital management aims to maintain healthy capital ratios to support business operations and maximize shareholder value[81][85]. - The Group's current assets and current liabilities were approximately HK$210.5 million and HK$364.5 million respectively, compared to HK$267.7 million and HK$434.3 million in 2022[88]. - The Group's bank and cash balances increased to approximately HK$28.0 million as of December 31, 2023, up from HK$8.1 million in 2022[91]. - The Group's gearing ratio rose to 141.6% in 2023 from 120.9% in 2022, indicating a higher level of debt relative to equity[88]. - The Group's investment properties were valued at approximately HK$94.1 million as of December 31, 2023, down from HK$126.4 million in 2022[94]. - The Group's current ratio remained stable at 0.6 as of December 31, 2023, consistent with the previous year[92]. - The Group's financial resources and liquidity management are focused on ensuring ongoing operations and financial stability[81][85]. Legal and Compliance Issues - The company received a letter from the Stock Exchange indicating insufficient business operations to maintain its listing status under Rule 13.24[114]. - On May 4, 2023, the company announced the fulfillment of the Resumption Guidance, and trading in its shares resumed on May 5, 2023[117]. - The court ruled against the Group in a lawsuit to recover loan receivables, citing insufficient evidence to support claims against Shenzhen Aquatic[71][75]. - The Group's legal actions included an application for property seizure from Shenzhen Aquatic, which was unsuccessful due to missing original documents[159]. - The Shenzhen Intermediate People's Court ruled against the Group in June 2022, stating insufficient evidence to support the repayment claims from Shenzhen Aquatic[163]. - The Group is exploring debt restructuring proposals and potential settlements with Lender B and local government to recover outstanding consideration receivables[148]. - The Group is actively negotiating debt restructuring proposals and settlement arrangements to realize assets and discharge liabilities[191]. Impairment and Receivables - An impairment loss of HK$215.3 million was recognized due to uncertainty in recovering loan receivables and interest receivables from Shenzhen Aquatic[75][77]. - The impairment loss on loan receivables and interest receivables was approximately HK$176.0 million and HK$39.3 million for the previous year, raising concerns about recoverability[139]. - The Company has not recorded any impairment on the consideration receivables as of December 31, 2023, due to ongoing negotiations[149]. - The audit qualifications issued by the auditor were primarily related to the recoverability of consideration receivables and the timing of impairment recognition[137]. - The Directors believe that upon conclusion of litigation regarding repayment obligations, the Group may be released from its obligations, and no additional provisions are necessary[184]. - The Group is unable to provide evidence on the repayment status of Lender A and other defendants as of December 31, 2023, which affects the Auditor's satisfaction regarding repayment obligations[185]. Operational Challenges - The Group maintained business relationships with customers and suppliers to seek collaboration opportunities during challenging market conditions[13]. - The management is confident in the future business development of the Group despite challenges such as inflation and price fluctuations in building materials[54]. - The Group faces significant economic risks due to changes in the business, competitive, regulatory, or economic environment, which may impact financial performance[196]. - The Group's management policy includes diversifying its business and investments to mitigate economic risks[197].

Financial Performance - For the fiscal year ending December 31, 2023, the company reported total revenue of HKD 531,504,000, representing a 97.5% increase from HKD 269,577,000 in 2022[2] - The gross profit for the same period was HKD 41,245,000, up from HKD 16,742,000, indicating a significant improvement in profitability[2] - The company incurred a total annual loss of HKD 24,286,000, a reduction from the previous year's loss of HKD 252,404,000, reflecting a 90.4% decrease in losses[3] - Basic and diluted loss per share improved to HKD 6.59 from HKD 47.39 in the prior year, showing a substantial recovery in earnings per share[3] - The total comprehensive loss for the year was HKD 23,713,000, significantly lower than HKD 261,289,000 in 2022, indicating a positive trend in overall financial health[5] - The operating loss for the year was HKD 2,764,000, compared to a loss of HKD 238,010,000 in the previous year, indicating a significant improvement of about 98.8%[22] - The net loss for the year was HKD 24,286,000, a decrease from HKD 252,404,000 in the prior year, representing an improvement of approximately 90.4%[20] Assets and Liabilities - As of December 31, 2023, the total assets of the company amounted to HKD 304,604,000, a decrease from HKD 394,125,000 in 2022, representing a decline of approximately 22.7%[11] - The company reported a total liability of HKD 368,488,000 in 2023, down from HKD 434,296,000 in 2022, indicating a reduction of about 15.1%[9] - Current liabilities were reported at HKD 364,539,000, while cash and cash equivalents stood at HKD 28,027,000, indicating a liquidity shortfall[13] - The company’s non-current assets, specifically investment properties, decreased from HKD 126,434,000 in 2022 to HKD 94,118,000 in 2023, a decline of approximately 25.5%[7] - The total equity attributable to equity holders was reported at HKD 27,120,000, unchanged from the previous year, while reserves showed a significant decrease from HKD (71,799,000) to HKD (106,800,000)[7] - The company’s total liabilities to total assets ratio improved from 1.10 in 2022 to 1.21 in 2023, indicating a higher leverage position[9] Cash Flow and Financing - The company reported a financing cost of HKD 12,001,000, which increased from HKD 10,709,000 in 2022, indicating rising financing expenses[3] - The company has acknowledged significant uncertainty regarding its ability to continue as a going concern due to its financial position and liquidity issues[13] - The company plans to negotiate debt restructuring agreements with creditors, potentially capitalizing approximately HKD 44.9 million of debt[14] - The company is currently facing challenges in seeking debt or equity financing due to high interest rates in the current debt market[96] Revenue Sources - For the fiscal year ending December 31, 2023, external customer revenue reached HKD 531,504,000, an increase from HKD 269,577,000 in the previous year, representing a growth of approximately 97.5%[20] - The revenue from the sales of materials was HKD 530,328,000 in 2023, compared to HKD 268,692,000 in 2022, indicating a growth of about 97.5%[28] - The group’s total revenue from rental income was HKD 1,176,000 in 2023, compared to HKD 885,000 in 2022, reflecting an increase of approximately 32.8%[28] Operational Efficiency - The company aims to enhance operational efficiency and reduce administrative expenses, which were HKD 16,804,000 for the year, up from HKD 10,007,000 in 2022[2] - The group reported a segment performance with materials business generating a profit of HKD 37,859,000, while property investment incurred a loss of HKD 29,667,000, leading to a total segment profit of HKD 8,192,000[20] - Administrative and operating expenses rose by 67.9% to HKD 16.8 million, primarily due to a foreign exchange loss of HKD 0.7 million and increased employee costs[61] Future Plans and Strategies - The company plans to focus on market expansion and new product development to drive future growth, although specific figures were not disclosed[2] - The company plans to leverage its existing business network and experience to provide more value-added services and transform into a comprehensive supplier of aluminum-related products and building materials[53] - The board remains confident in the future business development and will continue to seek opportunities for diversification to maximize shareholder value[56] Challenges and Risks - The company has acknowledged significant uncertainty regarding its ability to continue as a going concern due to its financial position and liquidity issues[13] - The group faced significant challenges in early 2022 due to COVID-19 and the Russia-Ukraine war, leading to a temporary halt in major business operations[54] - The company has faced challenges in obtaining adequate documentation for the financial records of certain subsidiaries, impacting the audit process[111] Compliance and Governance - The independent auditor confirmed that the financial statements reflect the group's financial position as of December 31, 2023, in accordance with Hong Kong Financial Reporting Standards[105] - The group has not yet adopted the newly issued and revised Hong Kong Financial Reporting Standards that are effective from January 1, 2023, and is currently assessing their impact[17]

Revenue and Profitability - During the six months ended 30 June 2023, the sales of materials contributed a revenue of approximately HK$242.3 million, compared to HK$0 in the previous period[18]. - The Group recorded revenue of HK$242.4 million and gross profit of HK$20.3 million for the six months ended June 30, 2023, compared to nil in the previous period[32][36]. - The gross profit for the same period was HK$20.3 million, with a gross profit margin of approximately 8.4%[90]. - Operating profit for the period was HK$13.2 million, a significant improvement from an operating loss of HK$7.2 million in the prior year[90]. - The profit before income tax was HK$8.2 million, compared to a loss of HK$7.6 million in the previous year[90]. - The net profit for the period was HK$3.4 million, a turnaround from a loss of HK$7.4 million in the same period of 2022[90]. - For the six months ended June 30, 2023, the Group reported a loss attributable to the owners of the Company of HK$2,500,000, compared to a loss of HK$7,350,000 for the same period in 2022, representing a 66% improvement[164]. Business Operations and Developments - The Group established warehouses in the PRC in early 2021 to enhance inventory management and improve response times to customer orders[10]. - In October 2022, the Group established Hangzhou Junheng Building Materials Company Limited, which has improved the financial results of the Group through customer introductions for downstream expansion[17]. - The Group's sales of materials business faced a downturn in 2022 due to significant price fluctuations in aluminum-related products caused by various external factors[12]. - The Group temporarily ceased the supply of aluminum and related products to overseas customers in 2022 while exploring other business opportunities[12]. - The establishment of Hangzhou Junheng in October 2022 significantly improved the Group's financial performance by enhancing its sales network and customer base in the construction industry in the PRC[26][33]. Financial Position and Ratios - As of June 30, 2023, the Group's gearing ratio was 121.0%, a slight increase from 120.9% at the end of 2022[44][45]. - As of June 30, 2023, the total deficit attributable to the owners of the Company was approximately HK$47.1 million, an increase from HK$44.7 million as of December 31, 2022, primarily due to operating profit during the period[47][52]. - The Group's current assets and current liabilities were approximately HK$223.5 million and HK$381.4 million respectively, compared to HK$267.7 million and HK$434.3 million as of December 31, 2022[47][52]. - The current ratio remained stable at 0.6 as of June 30, 2023, consistent with the ratio as of December 31, 2022[48][52]. - The Group's total assets amounted to HK$344.4 million, down from HK$394.1 million as of December 31, 2022[95]. - Total liabilities decreased to HK$381.4 million from HK$434.3 million at the end of 2022[97]. Cash Flow and Liquidity - The company reported a net cash generated from operating activities of HK$9,856 thousand for the six months ended June 30, 2023, compared to a net cash used in operating activities of HK$(12,752) thousand for the same period in 2022[103]. - The company’s cash and bank balances increased to HK$23.1 million from HK$8.1 million at the end of 2022[95]. - As of June 30, 2023, the Group's bank and cash balances were approximately HK$23.1 million, insufficient to cover current liabilities of approximately HK$381.4 million, indicating significant uncertainty regarding the Group's ability to continue as a going concern[115]. - The Group's financial information has been prepared on a going concern basis, relying on the financial support of the Controlling Shareholder to meet financial obligations within the next twelve months[116]. Investments and Assets - The Group's investment properties include commercial units and lands in Yingkou city, Liaoning province, PRC[19]. - The investment properties of the Group, with a carrying amount of approximately HK$120.8 million, were pledged to secure certain borrowings as of June 30, 2023[50][54]. - The company’s investment properties were valued at HK$120.8 million, down from HK$126.4 million at the end of 2022[95]. - Consideration receivable from the disposal of investment properties was HK$83,106,000 as of June 30, 2023, down from HK$86,959,000, indicating a decrease of approximately 4.4%[179]. Debt and Liabilities - The total outstanding loans and interests amounted to approximately RMB241.6 million (equivalent to approximately HK$275.1 million), reflecting the Group's obligation under a civil judgement[84]. - The maximum obligation to the Bank under a civil judgment was approximately RMB241.6 million (equivalent to HK$275.1 million) as of June 30, 2023, up from RMB233.2 million (equivalent to HK$266.8 million) at the end of 2022, marking an increase of about 3.5%[185]. - The Group does not need to make additional provisions regarding the civil judgment as it is not certain about the repayment capability of the defendants[188]. Management and Governance - The Company fulfilled the Resumption Guideline imposed by The Stock Exchange, and trading in its shares resumed on May 5, 2023[73]. - The Company is committed to working towards the resumption of trading in its shares and has been in discussions with professional advisers to formulate a viable resumption proposal[72]. - The Company must demonstrate compliance with Rule 13.24 of the Listing Rules and announce all material information for shareholders and investors[76]. Staff and Administrative Expenses - The Group's administrative and operating expenses decreased slightly from HK$7.3 million in the previous period to HK$7.1 million in the current period[34][38]. - Staff costs for the period amounted to approximately HK$2.9 million, an increase from HK$2.2 million in the previous period[59][63]. - The total staff costs, including directors' emoluments, increased to HK$2,659,000 for the six months ended June 30, 2023, compared to HK$2,141,000 in 2022, reflecting a 24% increase[152].

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份內容而產生或因倚賴該等內容而引致之任何損 失承擔任何責任。 Enviro Energy International Holdings Limited 環 能 國 際 控 股 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：1102） 截 至 二 零 二 三 年 六 月 三 十 日 止 六 個 月 中 期 業 績 環能國際控股有限公司（「本公司」）董事會（「董事會」）謹此宣佈本公司及其 附屬公司（統稱「本集團」）截至二零二三年六月三十日止六個月之未經審 核簡明綜合業績，連同比較數字載列如下： 簡明綜合損益表 截至二零二三年六月三十日止六個月 截至六月三十日止六個月 二零二三年 二零二二年 附註 千港元 千港元 （未經審核） （未經審核） 收入 5 242,428 – 銷售成本 (222,158) – ...

Financial Performance - The Group's revenue decreased by approximately 16.2% to approximately HK$269.6 million from approximately HK$321.8 million in the previous year[11]. - The loss attributable to the owners of the Company was approximately HK$257.0 million, a reduction from HK$357.8 million in the previous year, primarily due to an impairment loss on loan and interest receivables of HK$215.3 million and a fair value loss on investment properties of HK$35.8 million[12]. - For the year ended December 31, 2022, the sales of materials contributed approximately HK$268.7 million, representing 99.7% of the total revenue of the Group[29]. - The Group recorded a revenue of approximately HK$269.6 million for the Year, a decrease of 16.2% compared to HK$321.8 million in the Previous Year, primarily due to the temporary cessation of aluminum supply caused by COVID-19 and the Russian-Ukrainian War[51][55]. - The gross profit increased by HK$0.8 million to approximately HK$16.7 million, with the overall gross profit margin rising from 4.9% to 6.2%, attributed to higher margins from sales of aluminum-related products and scrap copper[53][56]. - Administrative and operating expenses decreased significantly by HK$4.9 million or 32.9%, from HK$14.9 million in the Previous Year to HK$10.0 million, mainly due to reduced staff costs and legal fees[61][65]. - The Group's rental income from properties investment amounted to approximately HK$0.9 million during the year, an increase from HK$0.8 million in the previous year[36]. Business Strategy and Operations - The Group is exploring opportunities to expand its supply of building materials in the PRC due to significant fluctuations in aluminum product prices since late 2021[13]. - In October 2022, the Group established a joint company with Hangzhou Zhongji to supply building materials for construction and renovation projects in the PRC[18]. - The Group aims to transform into a comprehensive supplier of aluminum-related products and building materials, including value-added services[43]. - The Group established warehouses in the PRC in early 2021 to enhance inventory management and respond quickly to customer demands[37]. - The management identified significant demand for building materials in Hangzhou, leveraging existing supply networks[45]. - The Group has shifted its focus to recurring domestic customers to maintain sustainable business amidst uncertainties in global aluminum prices[51][55]. - The joint venture is expected to expand the Group's sales channels and customer base in the Chinese construction industry, presenting a positive outlook[49]. Risk Management - The Group will continue to monitor risks related to COVID-19 and the political environment, implementing stringent cost and risk management measures[20]. - The Group has maintained relationships with customers and suppliers to explore collaboration opportunities for future business resumption[44]. - The Group has temporarily ceased the supply of aluminum and related products to overseas customers due to price instability, while exploring other business opportunities[34]. Financial Position and Liabilities - As of December 31, 2022, the Group reported a total deficit attributable to the owners of approximately HK$44.7 million, a significant decline from total equity of HK$221.1 million as of December 31, 2021, primarily due to operating losses during the year[95]. - The Group's net debts amounted to HK$232.3 million as of December 31, 2022, compared to HK$237.8 million in the previous year, while total capital decreased from HK$458.9 million to HK$159.5 million[95]. - The gearing ratio increased to 128.0% as of December 31, 2022, up from 51.8% in 2021, indicating a higher level of financial leverage[95]. - The current ratio fell to 0.6 as of December 31, 2022, down from 3.3 in the previous year, reflecting a decline in liquidity[99]. - The Group's bank and cash balances were approximately HK$8.1 million as of December 31, 2022, a slight decrease from HK$8.9 million in 2021, with 95% of these balances denominated in Renminbi[98]. - Total current assets and current liabilities were approximately HK$267.7 million and HK$434.3 million, respectively, as of December 31, 2022[96]. Legal and Compliance Issues - The auditor issued a qualified opinion on the recoverability of loan receivables and interest receivables, indicating potential issues with collection[74]. - The Group filed a court application to seize properties from Shenzhen Aquatic to recover loan and interest receivables, but the court ruled against the Group due to insufficient evidence[78]. - The Company has faced challenges regarding its listing status, with the Stock Exchange indicating insufficient operational levels to warrant continued listing[128][129]. - The Company received a letter from the Stock Exchange on 19 October 2021 regarding its trading suspension and the need to demonstrate compliance with Rule 13.24 of the Listing Rules[130]. - Trading in the Shares has been suspended since 9:00 a.m. on 15 September 2021, pending fulfillment of the Resumption Guidance[133]. - The Company must remedy issues causing its trading suspension and fully comply with the Listing Rules before trading can resume[132]. Impairment and Receivables - The Group recognized a fair value loss on investment properties amounting to HK$35.8 million for the Year, compared to HK$13.9 million in the Previous Year[62][66]. - The Group recognized a loss allowance of HK$0.5 million for trade receivables during the Year, reflecting management's assessment of expected credit losses[63][67]. - The Group recognized an impairment loss of HK$316.6 million on prepayments and HK$19.7 million on trade receivables during the previous year due to uncertainty in recovering outstanding balances[73]. - The Group's management expressed a lack of optimism regarding the recovery of outstanding balances from certain parties[73]. - The financial situation of Shenzhen Aquatic may have deteriorated due to its association with a former director facing criminal charges[82]. - The Group's ability to recover loan and interest receivables remains uncertain, impacting financial stability[85]. - The Group's proactive actions to recover outstanding balances have not yielded positive results, leading to significant impairment losses[73]. Employee and Operational Changes - Staff costs for the year amounted to approximately HK$5.1 million, a decrease from HK$5.9 million in the previous year, with an increase in total employees from 19 to 27[108]. - As of December 31, 2022, the Group employed a total of 27 employees in Hong Kong and China, an increase from 19 employees in the previous year[112]. - The employee costs for the year amounted to approximately HK$5.1 million, down from HK$5.9 million in the previous year[112]. Disposals and Joint Ventures - On October 31, 2022, the Company entered into agreements to sell its wholly-owned subsidiaries Sincere Venture Limited and Heryd International Trade Co., Limited for a consideration of HK$1 each[114][117]. - The Group is entitled to receive contingent consideration equivalent to 40% of the recovered balances of various receivables from the disposed subsidiaries within three years[115][118]. - A joint venture was established on October 20, 2022, with Hangzhou Zhongji, where the Group holds a 60% interest, focusing on the supply of building materials[120][125]. - The joint venture commenced operations in October 2022 and has secured multiple sales contracts for construction and renovation projects in China[121]. - The Company aims to enhance its sales networks and customer base in the construction industry in China through the joint venture[122]. - The Disposals were completed in December 2022, and the relevant subsidiaries have ceased to be part of the Company[187].

Revenue and Profitability - During the six months ended June 30, 2022, the Group did not generate any revenue from sales of materials, compared to HK$226.5 million in the previous period[13]. - The Group did not record any revenue or gross profit during the Period, compared to HK$226.5 million and HK$8.0 million in the previous period[38]. - Revenue for the six months ended June 30, 2022, was HK$0, compared to HK$226,516,000 in the same period of 2021, representing a decline of 100%[100]. - Gross profit for the period was HK$0, down from HK$7,978,000 in the previous year, indicating a significant decrease[100]. - The loss for the Period attributable to the owners of the Company was approximately HK$7.4 million, compared to a profit of HK$4.0 million in the previous period[47]. - The company reported a loss attributable to owners of approximately HK$7.4 million for the period, compared to a profit of HK$4 million in the same period last year[52]. - Total comprehensive loss for the period attributable to owners was HK$13,437,000, down from a comprehensive income of HK$8,109,000 in 2021[103]. - The operating loss for the period was HK$7,247,000, compared to an operating profit of HK$4,938,000 in 2021, reflecting a negative shift in operational performance[100]. Financial Position - As of June 30, 2022, the Group's equity attributable to owners decreased to approximately HK$207.7 million from HK$222.1 million as of December 31, 2021, primarily due to operating losses during the period[57]. - The Group's current assets and current liabilities were approximately HK$361.5 million and HK$111.8 million respectively, compared to HK$381.9 million and HK$117.4 million as of December 31, 2021[59]. - The Group's gearing ratio was 116.9% as of June 30, 2022, up from 107.6% as of December 31, 2021[55]. - The debt to equity ratio and net debt to equity ratio were 117.4% and 116.9% respectively as of June 30, 2022, compared to 111.6% and 107.6% as of December 31, 2021[56]. - The Group had bank and cash balances of approximately HK$1.1 million as of June 30, 2022, down from HK$8.9 million as of December 31, 2021[61]. - The current ratio, calculated as current assets over current liabilities, was 3.2 as of June 30, 2022, compared to 3.3 as of December 31, 2021[61]. - As of June 30, 2022, the Group's bank and cash balance was approximately HK$1.1 million, insufficient to cover current liabilities of approximately HK$111.8 million, raising significant doubts about the group's ability to continue as a going concern[129]. Operational Challenges - The Group experienced significant price fluctuations in aluminum-related products, nearly 100%, due to factors such as COVID-19 and the Russian-Ukrainian War[14]. - The Group temporarily ceased the supply of aluminum and related products while exploring other business opportunities[18]. - Due to COVID-19 and the Russian-Ukrainian War, the Group faced significant price fluctuations in aluminum and related products, leading to a temporary suspension of supply[29]. - The Group's sales of materials business faced a downturn in 2019 and 2020, prompting a strategic refinement of operations[12]. - The Group has been negotiating with customers to resume supplying aluminum-related products as prices appear to be stabilizing[19]. - The Group has resumed negotiations with customers to supply building materials and aluminum-related products as aluminum prices stabilized in the second half of 2022[30]. Strategic Initiatives - The establishment of warehouses in the PRC in early 2021 enhanced the Group's capability to respond to customer demand and act as a one-stop supplier[21]. - The Group aims to leverage its experience in the aluminum industry to attract international manufacturers interested in competitive pricing from the PRC[22]. - The Group aims to transform into a comprehensive supplier of aluminum-related products and building materials, enhancing its value-added services[28]. - The Group continues to explore other business opportunities based on its existing supply network in building materials[31]. - In June 2022, the Group entered into a sale and purchase agreement to acquire Hangzhou Zhongji, which provides construction and renovation services in China[31]. - The Proposed Acquisition of Hangzhou Zhongji is expected to improve the profitability of both Hangzhou Zhongji and the Group as a whole[36]. Compliance and Governance - The company has been notified by the Stock Exchange that it failed to maintain a sufficient level of operations as required under Rule 13.24, which jeopardizes its continued listing[81]. - The company is required to demonstrate compliance with Rule 13.24 and announce all material information for shareholders and investors to assess its position[84]. - The company is actively working on a resumption plan to address the issues causing its trading suspension and is in discussions with professional advisers[85]. - The recoverability of outstanding receivables is under investigation, with measures being taken to explore legal actions and debt restructuring proposals[90]. - The company is committed to addressing the outstanding receivables and is evaluating the feasibility of litigation against counterparties[90]. Taxation and Regulatory Matters - The applicable Hong Kong Profits Tax rate for the qualifying group entity is 8.25% on the first HK$2.0 million of assessable profits and 16.5% on profits above that threshold[165]. - The Corporate Income Tax (CIT) rate applicable to entities in Mainland China is 25% for the six months ended June 30, 2022, consistent with the previous year[166]. - There were no material unrecognized deferred tax assets and liabilities as of June 30, 2022, remaining consistent with December 31, 2021[167]. Staff and Management - Administrative and operating expenses increased by HK$3.2 million from HK$4.1 million in the previous period to HK$7.3 million in the current period, primarily due to a rise in legal and professional fees[46]. - The total staff costs for the period amounted to approximately HK$2.2 million, down from HK$3.2 million in the previous period[71]. - Key management personnel compensation for the six months ended June 30, 2022, was approximately HK$1,710,000, slightly up from HK$1,687,000 for the same period in 2021, indicating an increase of about 1.4%[197]. Asset Management - The Group's trade receivables as of June 30, 2022, amounted to HK$22,665,000, down from HK$24,099,000 as of December 31, 2021, indicating a decrease of approximately 5.93%[183]. - The net trade receivables after impairment provisions were HK$2,418,000 as of June 30, 2022, compared to HK$3,179,000 as of December 31, 2021, reflecting a decline of about 24.05%[183]. - The provision for impairment of trade receivables was HK$20,247,000 as of June 30, 2022, slightly down from HK$20,920,000 as of December 31, 2021[183]. - The company's deposits for the purchase of building materials amounted to HK$311,079,000 as of June 30, 2022, down from HK$321,208,000 as of December 31, 2021, reflecting a decrease of about 3.5%[187]. - Total trade payables decreased to HK$73,761,000 as of June 30, 2022, from HK$83,313,000 as of December 31, 2021, representing a decline of approximately 11.5%[190]. - The non-current other borrowings secured by the company's investment properties were HK$209,164,000 as of June 30, 2022, compared to HK$216,324,000 as of December 31, 2021, showing a reduction of about 3.3%[195].