Financial Performance - For the six months ended June 30, 2019, the Group's rental income was approximately HK$2,070,000, a decrease of 5.7% from HK$2,196,000 for the same period in 2018[16]. - The properties investment segment recorded a profit of HK$1,401,000 for the six months ended June 30, 2019, down 35.5% from HK$2,176,000 in the previous year[16]. - The trading of building materials segment generated revenue of approximately HK$44,153,000, a significant decline of 92.9% compared to HK$620,795,000 for the same period in 2018, representing 95.5% of total revenue[19]. - The gross profit from the trading of building materials was approximately HK$112,000, which is only 5.1% of total gross profit, down from HK$2,839,000 in the previous year[19]. - For the six months ended 30 June 2019, the Group recorded a consolidated revenue of approximately HK$46,223,000, representing a decrease of 92.6% compared to HK$622,991,000 for the same period in 2018[38]. - The Group's gross profit for the six months ended 30 June 2019 was approximately HK$2,182,000, with an average gross profit margin of 4.7%, a decrease of approximately 56.7% compared to HK$5,035,000 in the same period in 2018[39]. - The Group's net loss was approximately HK$11,049,000 for the six months ended 30 June 2019, a decrease in loss of approximately HK$2,048,000 compared to HK$13,097,000 for the same period in 2018[42]. - The operating loss for the period was HK$2,255,000, compared to an operating profit of HK$3,233,000 in the previous year[80]. - The company reported a comprehensive loss of HK$11,591,000 for the six months ended June 30, 2019, compared to a loss of HK$13,097,000 for the same period in 2018, indicating a decrease in loss of 11.5%[87]. Revenue and Income Sources - The Group had no revenue or profit from investment holding for the six months ended June 30, 2019, consistent with the same period in 2018[17]. - Revenue from the building materials trading business decreased by approximately 92.9% during the six months ended 30 June 2019 due to market competition and funding shortfalls[29]. - The Group's cash and bank balances were approximately HK$854,000 as of June 30, 2019, a decrease from HK$2,123,000 as of December 31, 2018[47]. - The company did not declare any interim dividend for the six months ended June 30, 2019, consistent with the previous year where no dividend was declared[168]. Assets and Liabilities - The total assets as of June 30, 2019, amounted to HK$825,067,000, an increase from HK$813,900,000 at the end of 2018[84]. - The Group's current liabilities increased by 9.4% to HK$258,626,000 compared to HK$236,451,000 as of December 31, 2018[51]. - Total liabilities increased to HK$260,867,000 as of June 30, 2019, up from HK$238,109,000 as of December 31, 2018, representing an increase of 9.4%[85]. - The Group's equity attributable to owners of the Company amounted to HK$564,200,000 as of June 30, 2019, down from HK$575,791,000 as of December 31, 2018[46]. - The Group's current assets were HK$470,026,000 as of June 30, 2019, with a current ratio of approximately 1.82[50]. Strategic Focus and Future Plans - The overall performance of the Group indicates challenges in the trading of building materials and a decline in rental income, necessitating strategic reassessment[13]. - The Group's focus remains on properties investment and trading of building materials, with ongoing efforts to enhance operational efficiency[13]. - Future strategies may include exploring new markets and potential product offerings to improve revenue streams[13]. - The property investment business segment will continue to be developed, focusing on opportunities in the Greater Bay Area, particularly in Shenzhen City[31]. - The Board remains cautiously optimistic about the growth in the markets of property investment and building materials trading in the Southeast Region of the PRC due to national policies related to the Greater Bay Area[36]. Financial Management and Cost Control - Cost-cutting measures will be prioritized to improve operating performance amid challenges such as US-China trade tensions and economic slowdown in the PRC[35]. - The Group plans to explore different avenues for funding, including new bank borrowings and various fundraising methods, to support the expansion of the building materials trading business[27]. - The management believes the Group has sufficient financial resources to meet its ongoing operational needs[48]. Accounting Policies and Standards - The unaudited condensed consolidated interim financial information for the six months ended 30 June 2019 is prepared in accordance with HKAS 34 and the Listing Rules, presented in thousands of Hong Kong dollars (HK$'000) [92]. - The Group has adopted all new and revised standards effective from 1 January 2019, with the exception of HKFRS 16 "Leases," which has a significant impact on accounting policies [94]. - HKFRS 16 introduces a single accounting model for lessees, requiring recognition of a right-of-use asset and a lease liability for all leases, except short-term leases and leases of low-value assets [98]. - The Group has applied HKFRS 16 using the modified retrospective approach, adjusting the opening balance of equity at 1 January 2019 without restating comparative information [99]. - The Group's accounting policies as a lessor remain unchanged from those under HKAS 17, with no adjustments required for leases in which it acts as a lessor[114]. Lease Liabilities and Right-of-Use Assets - The Group's lease liabilities recognized as of January 1, 2019, amounted to HK$5,325,000 after accounting for total future interest expenses of HK$373,000[120]. - The Group's right-of-use assets had a net book value of HK$3,936,000 as of June 30, 2019, after depreciation of HK$1,389,000 during the period[175]. - The Group's total non-current liabilities increased from HK$1,658,000 to HK$4,236,000 due to the recognition of lease liabilities[126]. - The Group's transition to HKFRS 16 involved recognizing lease liabilities at the present value of remaining lease payments, discounted using relevant incremental borrowing rates[115]. Trade Receivables and Credit Management - As of June 30, 2019, trade receivables amounted to HK$20,469,000, an increase from HK$18,604,000 as of December 31, 2018, representing a growth of approximately 10%[190]. - The net trade receivables after provision for expected credit loss were HK$20,091,000 as of June 30, 2019, compared to HK$18,211,000 as of December 31, 2018, indicating an increase of about 10%[190]. - The provision for expected credit loss decreased slightly from HK$393,000 as of December 31, 2018, to HK$378,000 as of June 30, 2019[196]. - The company has a credit period for trade receivables generally ranging from 30 to 180 days, indicating a flexible payment structure for customers[191].

Financial Performance - For the year ended December 31, 2018, the Group recorded consolidated revenue of approximately HK$885,871,000, an increase of over 16.25 times from HK$54,531,000 in 2017[18]. - Loss attributable to owners of the Company from continuing operations was approximately HK$14,531,000, down from HK$50,855,000 in 2017, with a basic loss per share of HK0.16 cent compared to HK0.65 cent in 2017[18]. - The decrease in loss from continuing operations was mainly due to a reduction in fair value loss on investment properties from HK$20,866,000 in 2017 to HK$5,369,000 in 2018[18]. - Interest income from loan receivables recognized during the year was HK$21,755,000, compared to nil in 2017[18]. - The gross profit from continuing operations for the year was approximately HK$9,160,000, with an average gross profit margin of 1.0%, down from 13.8% in 2017[59]. - The overall net loss attributable to owners of the Company was approximately HK$14,531,000, a decrease of approximately HK$79,369,000 compared to HK$93,900,000 in 2017[62]. Revenue Segments - For the year ended December 31, 2018, the Group's rental income amounted to approximately HK$4,270,000, an increase from approximately HK$3,967,000 in 2017[37]. - The properties investment segment recorded a profit of approximately HK$17,222,000 for the year ended December 31, 2018, compared to a loss of approximately HK$21,932,000 in 2017[37]. - The trading of building materials segment contributed a revenue of approximately HK$881,601,000, representing 99.5% of total revenue from continuing operations[40]. - The gross profit from the trading of building materials segment was approximately HK$4,890,000, accounting for 53.4% of total gross profit from continuing operations[40]. Investment and Strategic Plans - The management intends to improve the financial performance of existing businesses and explore investment opportunities in property investment and trading of building materials[19]. - The Group aims to bring substantial value to shareholders through investments in segments with good prospects[19]. - The Group plans to actively explore strategic investments and diversify revenue streams, including potential acquisitions in the Greater Bay Area and Hong Kong[53]. - The acquisition of Quick Master Company Limited for HK$450,000 is expected to diversify the Group's business scope and broaden income sources[52]. - The Group aims to seize new property investment opportunities in Shenzhen City and the Greater Bay Area, driven by market potential[47]. Financial Position and Ratios - As of December 31, 2018, the Group had current assets of approximately HK$462,283,000, with a current ratio of about 1.96, up from 1.07 in 2017[66]. - As of December 31, 2018, the Group's current liabilities decreased by 59% to approximately HK$236,451,000 from HK$577,169,000 in 2017[72]. - The equity attributable to owners of the Company amounted to approximately HK$575,791,000, down from HK$603,238,000 in 2017[68]. - The Group's cash and bank balances decreased by 98.6% to approximately HK$2,123,000 from HK$154,140,000 in 2017, primarily due to the repayment of bank borrowings[68]. - The debt to equity ratio improved to approximately 32% as of December 31, 2018, compared to 71% in 2017[69]. - The gearing ratio was 32% as of December 31, 2018, down from 56% in 2017[86]. Corporate Governance - The Board of Directors consists of six members, including three Executive Directors and three Independent Non-executive Directors, ensuring a strong element of independence[126]. - The Company has maintained compliance with the Listing Rules, including the appointment of at least three Independent Non-executive Directors, with more than one-third of the Board being independent[137]. - The Company Secretary is responsible for ensuring compliance with corporate governance and regulatory requirements, including the Listing Rules and other applicable laws[136]. - The Company has adopted a board diversity policy aimed at achieving a sustainable and balanced development and enhancing performance quality[186]. - The Board will consider various perspectives, including race, gender, age, and industry experience, when designing its composition[187]. Risk Management - The Board has overall responsibility for ensuring effective risk management and internal control systems are in place[195]. - The Group's risk management and internal control systems are designed to provide reasonable assurance against material misstatement or loss[200]. - The Group has identified significant economic risks due to global financial conditions, particularly in the US, Mainland China, and Hong Kong, which it aims to mitigate through business diversification[100]. - The Group is exposed to environmental risks, including pollution and adverse weather conditions, which could disrupt operations and affect financial performance[102]. Employee and Operational Matters - The Group had 21 employees as of December 31, 2018, an increase from 12 employees in 2017[91]. - The Group plans to continue developing its building materials trading business by recruiting additional staff and adopting a more proactive approach to select quality suppliers and customers[46]. - The trading business of building materials operates in a competitive environment, impacting revenue and profitability, with management focusing on increasing market share[101]. Compliance and Audit - The Company has complied with all relevant laws and regulations during the year ended December 31, 2018, with no material breaches reported[110]. - The independent auditor's remuneration for the audit of the current year was HK$1,050,000, a decrease from HK$2,400,000 in the previous year[155]. - The Audit Committee met twice during the year to review the consolidated financial statements for the year ended December 31, 2017, and the unaudited financial information for the six months ended June 30, 2018[161].