Business Operations - Kingwell Group is primarily engaged in property development, leasing, and management services in China[2]. ESG Performance - The report covers the environmental, social, and governance (ESG) performance of key subsidiaries contributing to revenue, including Xuzhou Taihua and Jiangsu Tianan Hongji[3]. - The board emphasizes the importance of integrating ESG factors into business operations to enhance competitive advantage and adaptability to market changes[6]. - The governance framework includes a dedicated ESG working group to implement strategies and collect relevant data[8][9]. - The board regularly reviews ESG performance, risks, and opportunities to ensure effective management and compliance[10]. - The report is prepared in accordance with the Hong Kong Stock Exchange's ESG reporting guidelines, focusing on material issues[4]. - Quantitative data is provided to set measurable targets for assessing ESG performance objectively[4]. - The company encourages stakeholder feedback on its ESG report to enhance transparency and engagement[5]. - The board plays a critical role in setting clear goals for sustainability efforts aligned with the overall strategic objectives of the company[7]. - The group has identified 16 key environmental, social, and governance issues through a materiality assessment to guide its reporting and strategy[15]. Sustainability Goals - The company aims to reduce its carbon footprint and improve employee welfare as part of its sustainability agenda[6]. - The group has set a target to reduce greenhouse gas emissions, waste management, energy consumption, and water consumption, aligning with local government carbon neutrality goals[12]. Environmental Impact - In 2024, the energy consumption density is reported at 0.13 MWh/RMB 1,000 revenue, which is a 5% increase from the 2022 baseline of 0.04 MWh/RMB 1,000 revenue[16]. - The water consumption density for 2024 is reported at 10.71 m³/RMB 1,000 revenue, which is a 5% increase from the 2022 baseline of 2.99 m³/RMB 1,000 revenue[16]. - The waste generation density for 2024 is reported at 0.02 kg/RMB 1,000 revenue, which is a 5% increase from the 2022 baseline of 0.01 kg/RMB 1,000 revenue[16]. - The greenhouse gas emissions density for 2024 is reported at 0.07 tons CO2 equivalent/RMB 1,000 revenue, which is a 5% increase from the 2022 baseline of 0.02 tons CO2 equivalent/RMB 1,000 revenue[16]. - Nitrogen oxides (NOx) emissions for 2024 are reported at 1.21 kg, an increase from 0.91 kg in 2023[18]. - Sulfur oxides (SOx) emissions for 2024 are reported at 0.03 kg, an increase from 0.02 kg in 2023[18]. - Particulate matter (PM) emissions for 2024 are reported at 0.09 kg, an increase from 0.07 kg in 2023[18]. - The group has established a comprehensive environmental policy to guide its sustainable development efforts[17]. - Total greenhouse gas emissions decreased from 7,744.95 tons CO2 equivalent in 2023 to 5,173.76 tons CO2 equivalent in 2024, representing a reduction of approximately 33%[19]. - Direct greenhouse gas emissions (Scope 1) increased from 8.79 tons CO2 equivalent in 2023 to 10.01 tons CO2 equivalent in 2024, with gasoline emissions rising significantly from 1.59 tons to 4.38 tons CO2 equivalent[19]. - Indirect greenhouse gas emissions (Scope 2) decreased from 7,736.16 tons CO2 equivalent in 2023 to 5,163.76 tons CO2 equivalent in 2024, a reduction of about 33%[19]. - The total amount of non-hazardous waste increased from 634.84 kg in 2023 to 1,161.50 kg in 2024, primarily due to the return of all employees to the office post-pandemic[24]. - The density of non-hazardous waste per RMB 1,000 revenue increased from 0.01 kg to 0.02 kg[24]. Financial Performance - The company recorded revenue of RMB 71,415,000 in 2024, down from RMB 74,542,000 in 2023, indicating a decrease of approximately 4%[21]. Energy and Water Management - The company has implemented various energy-saving measures, including the use of energy-efficient equipment and regular maintenance of electronic devices[27]. - The total energy consumption density remained stable compared to the previous year[27]. - The company is committed to promoting green office practices and has established comprehensive policies to monitor and manage energy and water resource usage[25]. - Direct energy consumption increased to 43.22 MWh in 2024 from 27.47 MWh in 2023, with gasoline consumption rising significantly from 0.57 MWh to 15.94 MWh[28]. - Total water consumption decreased to 764,551.08 cubic meters in 2024 from 1,020,220.70 cubic meters in 2023, resulting in a reduction in water consumption density from 13.69 to 10.71 cubic meters per RMB 1,000 revenue[30]. - The company has implemented various water-saving measures and aims to continue reducing water consumption in the coming year[29]. Employee Management - Employee turnover rate improved to 36% in 2024 from 41.6% in 2023, indicating enhanced employee retention strategies[40]. - The company maintained a total of 480 employees in 2024, down from 500 in 2023, with a notable decrease in male employees from 340 to 325[39]. - Employee turnover rate for 2024 is 22% for males and 65% for females, with a total of 72 and 101 employees leaving respectively[41]. - The turnover rate for employees under 30 years old is 22%, while it is 43% for those aged 30 to 50 years, and 31% for those over 50 years[41]. - In mainland China, the employee turnover rate is 37% with 173 employees leaving, compared to a turnover rate of 100% in Russia with 2 employees leaving[41]. - The company has maintained a zero fatality rate due to work-related incidents over the past three years, although lost workdays due to injuries increased to 124 days in 2024[45]. - Approximately 100% of employees received training in 2024, with an average training duration of 20 hours per employee[49]. - The training participation rate is 68% for male employees and 32% for female employees, with all employee categories receiving an average of 20 hours of training[49]. - The company has implemented a comprehensive health and safety management system, ensuring compliance with relevant laws and regulations[44]. - The company evaluates its compensation system annually to ensure fairness and competitiveness, contributing to employee welfare[43]. - The company actively encourages employees to report health and safety risks and conducts regular safety inspections[46]. - The management reviews training proposals annually to ensure their effectiveness and relevance to industry trends[48]. Labor Practices - The company strictly adheres to labor laws, prohibiting child and forced labor, and has implemented corrective measures for any violations[51]. - Employees are entitled to paid leave and overtime compensation for hours worked beyond legal limits[52]. - The company collaborates with 15 suppliers in China, ensuring compliance with labor laws and environmental standards[54]. Product and Service Quality - There were no significant complaints regarding product safety or service quality during the reporting period, with zero major complaints reported[55]. - The company has established a comprehensive quality management system to ensure the safety and quality of its products and services[56]. - Intellectual property management policies are in place to prevent unauthorized use of software and data[57]. - The company emphasizes customer privacy protection, implementing strict policies and technical measures to safeguard customer data[57]. - The group distributes manuals with detailed explanations of sales data authenticity to ensure transparency[58]. - The group conducts annual reviews of access rights to computers and accounts, limiting data access to current employees[58]. Anti-Corruption Measures - There were no significant violations related to bribery, extortion, fraud, or money laundering during the reporting period, with zero concluded corruption cases in 2023[59]. - A total of 480 hours of anti-corruption training was provided to all directors and relevant employees during the reporting period[60]. - The group has set up an anti-bribery department responsible for developing and overseeing anti-bribery and anti-corruption policies[60]. - The group integrates corporate social responsibility into its development strategy and daily operations[62]. - The group prohibits the use of false or misleading statements in advertising to accurately reflect the services provided[58]. - The company has implemented policies to prevent bribery, extortion, fraud, and money laundering, ensuring compliance with relevant laws and regulations[73]. - During the reporting period, the number of concluded corruption lawsuits against the company or its employees was documented, along with the outcomes[73]. - The company has established reporting procedures and monitoring methods to prevent corruption[73]. - Anti-corruption training has been provided to directors and employees to enhance awareness and compliance[73]. Community Engagement - The group actively participates in community charity activities, focusing on the needs of vulnerable communities[62]. - The group has established a comprehensive whistleblowing system to protect the rights of employees and stakeholders[61]. - The company focuses its community investment contributions in areas such as education, environmental issues, labor needs, health, culture, and sports[73]. - Resources allocated in the focused areas include both financial contributions and time dedicated to community engagement[73].

Financial Performance - The company's revenue for the year decreased to approximately RMB 71.4 million, a reduction of about 4% compared to RMB 74.5 million in the previous year[10]. - Gross profit for the year was approximately RMB 18.2 million, down from RMB 22.7 million in the previous year[10]. - The pre-tax loss decreased to approximately RMB 3.4 million, compared to RMB 10.1 million in the previous year[6]. - The loss attributable to equity holders of the company was approximately RMB 10.0 million, down from RMB 23.1 million in the previous year[10]. - Basic loss per share was RMB 0.34, compared to RMB 0.80 in the previous year[10]. - Revenue from operations outside mainland China was RMB 71,415,000, a decrease from RMB 74,542,000 in 2023[15]. - The company reported a net loss of RMB 7,358 thousand for the year, compared to a net loss of RMB 19,579 thousand in the previous year, indicating an improvement[145]. - The impairment loss on financial assets increased significantly to RMB 5,788 thousand from RMB 1,651 thousand year-on-year[145]. - Total revenue for the year ended June 30, 2024, was RMB 71,415 thousand, a decrease of 4.8% from RMB 74,542 thousand in the previous year[145]. - Gross profit for the same period was RMB 18,224 thousand, down 20% from RMB 22,743 thousand year-on-year[145]. Assets and Liabilities - The total equity of the group decreased to RMB 118.7 million[6]. - As of June 30, 2024, cash and cash equivalents were approximately RMB 46,869,000, down from RMB 63,469,000 in 2023[17]. - The total equity attributable to owners decreased by approximately RMB 9,887,000 to RMB 104,225,000 as of June 30, 2024[17]. - Current assets decreased to RMB 183,567 thousand from RMB 204,358 thousand, reflecting a decline of approximately 10.1%[147]. - Total liabilities decreased to RMB 88,273 thousand from RMB 101,689 thousand, showing a reduction of 13.2%[147]. - Net assets decreased from RMB 125,976,000 to RMB 118,697,000, a reduction of approximately 5.8%[148]. - The total equity attributable to owners decreased from RMB 114,112,000 to RMB 104,225,000, a decline of about 8.4%[149]. Corporate Governance - The board did not recommend a final dividend for the year ending June 30, 2024, consistent with the previous year[21]. - The board consists of two executive directors and three independent non-executive directors as of June 30, 2024[29]. - The company has adhered to the corporate governance code, with a noted deviation regarding the roles of the chairman and CEO[28]. - The company emphasizes accountability, transparency, independence, fairness, and responsibility in its corporate governance principles[28]. - The company is actively seeking to appoint a qualified individual to fulfill the role of CEO to comply with corporate governance standards[28]. - The independent non-executive directors have accumulated extensive experience in accounting and finance, enhancing the board's oversight capabilities[25][26]. - The company has established a governance committee to review corporate governance policies and practices, ensuring compliance with relevant codes[71]. - The governance committee held two meetings during the year, with all members being independent non-executive directors[73]. - The company has mechanisms in place to ensure independent opinions are obtained for board decisions, including annual reviews of the independence of non-executive directors[70]. Shareholder Communication - The company has adopted a shareholder communication policy to ensure effective communication between the board and shareholders[74]. - The company encourages electronic communication with shareholders to reduce environmental impact and improve information dissemination efficiency[79]. - The company has reviewed its shareholder communication policy for the year ending June 30, 2024, and found it to be effectively implemented[80]. - Shareholders holding at least 10% of the company's paid-up capital can request a special general meeting within two months of their request[73]. Risk Management and Internal Control - The company has established a risk management and internal control system to ensure sustainable growth and business objectives[61]. - The internal audit department is responsible for ensuring the effectiveness of governance, risk management, and internal control[64]. - The internal audit reports are reviewed by the Audit Committee and the board to assess risk management and internal control effectiveness[64]. Financial Reporting and Compliance - The financial statements reflect the group's financial position and performance fairly and in accordance with the Hong Kong Financial Reporting Standards[133]. - The company is responsible for preparing financial statements in accordance with Hong Kong Financial Reporting Standards and ensuring internal controls to prevent material misstatements[139]. - The independent auditor's report does not cover other information included in the annual report, focusing solely on the financial statements[138]. - The group has adopted new and revised Hong Kong Financial Reporting Standards, with no significant impact on the financial statements from these changes[162]. Employee and Management Information - Employee costs, including director remuneration, amounted to approximately RMB 41,904,000, compared to RMB 40,241,000 in 2023[18]. - The company has a strong management team with over 20 years of experience in auditing and accounting[28]. - The company has confirmed that all directors participated in ongoing professional training during the year[41]. Investment and Acquisitions - The company had no significant investments or major acquisitions during the year[18]. - The group acquired 51% stakes in Shenzhen Hailian and Huizhou Heping Peninsula No. 1, with a guaranteed net profit of no less than RMB 6.2 million for the year ending December 31, 2023, which was achieved[11]. Operational Highlights - The group managed properties with a total area of approximately 254,248 square meters and owned 516 parking spaces[8]. - The company operates primarily in property management services and property sales, with subsidiaries involved in real estate development and investment holding[155]. - The company has established a significant relationship with its largest client, Xu Zhou Yue Qiao Hua Yuan, providing customized services beyond regular property management[88]. - The company emphasizes the importance of third-party service providers for operational efficiency and has implemented strict monitoring to mitigate associated risks[86]. Share Options and Capital Structure - The company has a stock option plan in place, allowing for the issuance of up to 40,262,500 shares, representing 10% of the issued shares as of the adoption date[96]. - The stock option plan allows for the issuance of additional shares, with a maximum of 30% of the company's issued shares available for unexercised options[96]. - The total number of shares that can be issued under the 2010 Share Option Scheme is 95,024,050 shares, accounting for 10% of the shares issued as of the date of the special shareholders' meeting in 2010[101]. - The total number of shares that can be issued under the 2019 Share Option Scheme is 288,409,173 shares, representing 9.97% of the company's issued share capital[109]. Audit and Compliance - The audit committee, consisting of three independent non-executive directors, reviewed the group's interim and annual performance during the year[130]. - Ernst & Young will be proposed for reappointment as the company's auditor at the upcoming annual general meeting[131].

Financial Performance - For the fiscal year ending June 30, 2024, the company reported total revenue of RMB 71,415,000, a decrease of 4.8% from RMB 74,542,000 in the previous year[2] - The gross profit for the year was RMB 18,224,000, down 20% from RMB 22,743,000 year-on-year[2] - The company incurred a loss before tax of RMB 3,381,000, an improvement from a loss of RMB 10,101,000 in the previous year[2] - The net loss for the year was RMB 7,358,000, compared to a net loss of RMB 19,579,000 in the prior year, indicating a significant reduction in losses[3] - The company reported a basic and diluted loss per share of RMB 0.34, an improvement from RMB 0.80 in the previous year[3] - The total tax expense for the year was RMB 3,977,000, a decrease from RMB 9,478,000 in 2023, indicating a reduction of approximately 58.0%[29] - The company reported a total of RMB 2,677,000 in other income for 2024, up from RMB 2,248,000 in 2023, reflecting an increase of about 19.0%[26] Assets and Liabilities - Total assets less current liabilities amounted to RMB 122,054,000, down from RMB 128,921,000 in the previous year[5] - The company's cash and cash equivalents decreased to RMB 46,869,000 from RMB 63,469,000 year-on-year, reflecting a decline of 26.1%[4] - Non-current assets totaled RMB 26,760,000, slightly up from RMB 26,252,000 in the previous year[4] - The total liabilities of the company were RMB 104,634,000, with RMB 43,151,000 attributed to the property development segment[19] - The total equity attributable to the owners of the company decreased to RMB 104,225,000 from RMB 114,112,000 year-on-year[5] Segment Performance - Total segment revenue for property development, leasing, and management services reached RMB 73,409,000, with external customer sales contributing RMB 71,415,000[15] - The adjusted loss before tax for the segment was RMB 3,381,000, after accounting for corporate and other unallocated expenses of RMB 11,083,000[15] - Segment assets amounted to RMB 157,197,000, while total assets including corporate and other unallocated assets reached RMB 210,327,000[15] - The profit from property development, leasing, and management services for the year was approximately RMB 7,019,000, down from RMB 16,960,000 in 2023, representing a decline of about 58.6%[37] Impairments and Expenses - The company reported a financial asset impairment loss of RMB 5,788,000 and depreciation and amortization expenses of RMB 621,000[15] - The company incurred a loss of RMB 4,002,000 due to impairment of trade receivables in 2024, compared to RMB 956,000 in 2023, representing a substantial increase in impairment losses[27] Investments and Acquisitions - The group sold its gold mining segment on March 20, 2023, focusing on property-related services[13] - The company acquired 51% stakes in Shenzhen Hailian Property Management Co., Ltd. and Huizhou Huiyang Peninsula No. 1 Property Management Co., Ltd.[36] - The guaranteed net profit for Shenzhen Hailian and Huizhou Huiyang for the year ended December 31, 2023, was not less than RMB 6,200,000, which has been achieved[36] Governance and Compliance - The company has adopted new and revised Hong Kong Financial Reporting Standards, which did not impact the measurement, recognition, or presentation of any items in the financial statements[10] - The company has clarified the distinction between changes in accounting estimates and changes in accounting policies, ensuring consistency in its financial reporting[11] - The company has implemented new disclosure requirements related to international tax reforms, although these changes did not affect the group[12] - The board does not recommend a final dividend for the year ending June 30, 2024, consistent with the previous year[50] - The company has adhered to the corporate governance code, with a noted deviation regarding the roles of the Chairman and CEO being held by the same individual[50] - The audit committee has been established since May 2001, serving as a key link between the board and external auditors, overseeing financial reporting and risk management[51] Future Outlook - The group plans to enhance management services and provide customized services in the Xuzhou project, which is expected to contribute positively despite a challenging operating environment[39] - The group anticipates seeking potential projects to expand its business in China in the future[39] Miscellaneous - There were no purchases, sales, or redemptions of the company's listed securities during the year[53] - No significant events affecting the group have occurred since the end of the financial year[53] - The annual performance announcement for the year ending June 30, 2024, will be available on the Hong Kong Stock Exchange and the company's website[53]

Financial Performance - For the six months ended December 31, 2023, the revenue was approximately RMB 33,158,000, a decrease from RMB 39,163,000 in the same period last year, representing a decline of 15.6%[3] - The pre-tax loss for the same period was approximately RMB 1,200,000, compared to a profit of RMB 196,000 in the previous year[3] - The loss attributable to the owners of the company was approximately RMB 1,658,000, an increase from RMB 1,011,000 in the prior year[9] - The basic and diluted loss per share for the period was RMB 0.06, compared to RMB 0.03 in the previous year[9] - The gross profit for the six months was RMB 4,910,000, down from RMB 8,151,000 in the same period last year, indicating a decline of 39.4%[8] - The total comprehensive loss for the period was RMB 1,300,000, compared to RMB 12,403,000 in the same period last year, indicating a significant improvement[9] - The company reported a net cash flow from operating activities of RMB (1,617) thousand for the six months ended December 31, 2023, compared to RMB 6,463 thousand in the same period last year[15] - The total comprehensive loss for the period was RMB (6,552) thousand, which includes a foreign exchange loss of RMB (5,541) thousand[13] - The company recorded a net loss of RMB (1,658) thousand for the year, with total comprehensive loss amounting to RMB (1,473) thousand for the six months ended December 31, 2023[15] Assets and Liabilities - Total equity of the group decreased to RMB 124,676,000 from RMB 125,976,000 as of June 30, 2023[11] - Cash and cash equivalents as of December 31, 2023, were RMB 62,306,000, slightly down from RMB 63,469,000 as of June 30, 2023[10] - The total assets less current liabilities amounted to RMB 127,560,000, a slight decrease from RMB 128,921,000 as of June 30, 2023[11] - As of December 31, 2023, the total equity was RMB 124,676 thousand, a decrease from RMB 133,952 thousand as of June 30, 2023[13] - The accounts receivable from trade amounted to RMB 26,220,000 as of December 31, 2023, down from RMB 29,167,000 as of June 30, 2023, reflecting a decrease of approximately 10.1%[43] - The total assets for the property development, leasing, and management services segment as of December 31, 2023, were RMB 160,620,000, a slight decrease from RMB 162,562,000 as of June 30, 2023[32] - The total liabilities for the property development, leasing, and management services segment decreased to RMB 36,397,000 as of December 31, 2023, down from RMB 43,151,000 as of June 30, 2023, indicating a reduction of approximately 15.6%[32] Segment Performance - For the six months ended December 31, 2023, the property development, leasing, and management services segment generated revenue of RMB 34,468,000, a decrease from RMB 40,437,000 in the same period of 2022, representing a decline of approximately 14.5%[27] - The adjusted loss before tax for the property development, leasing, and management services segment was RMB 1,200,000 for the six months ended December 31, 2023, compared to a profit of RMB 196,000 in the same period of 2022[29] - The income from property management services decreased to RMB 32,786,000 for the six months ended December 31, 2023, compared to RMB 39,075,000 in the same period of 2022, a decline of approximately 16.5%[34] - The property development, leasing, and management services segment recorded a profit of approximately RMB 1,896,000, down from RMB 4,700,000 in the previous year[53] Cash Flow and Income - Cash and cash equivalents decreased to RMB 62,306 thousand as of December 31, 2023, down from RMB 63,469 thousand at the beginning of the period[15] - The company received interest income of RMB 333 thousand during the period, an increase from RMB 80 thousand in the previous year[15] - The company’s total income from other sources, including bank interest and rental income, increased to RMB 1,643,000 for the six months ended December 31, 2023, compared to RMB 1,354,000 in the same period of 2022, representing an increase of approximately 21.4%[34] Corporate Governance and Structure - The company has adopted the Corporate Governance Code but has deviated from the provision that the roles of Chairman and CEO should be separate, citing operational efficiency reasons[82] - The interim report for the period ending December 31, 2023, has not been audited but reviewed by the audit committee[87] - The company has established an audit committee responsible for reviewing annual and interim reports, financial reporting, risk management, and internal controls[87] Future Plans and Opportunities - The company plans to seek potential acquisition projects to expand its management services business in the Greater Bay Area of China[58] - The company is actively seeking potential investment opportunities as part of its diversification strategy, but has no major investment plans or expected funding sources disclosed as of December 31, 2023[69] Shareholder Information - The company’s major shareholder, Chaolian Group Limited, holds 671,976,153 shares, representing 23.22% of the issued shares[78] - The company’s executive director, Mr. Du Yun, holds 671,976,153 shares through a controlled corporation, also representing 23.22% of the issued shares[75] Miscellaneous - The company has not reported any new product launches or technological developments during this period[24] - The company has not engaged in any acquisitions or significant market expansions during the reported period[24] - The company has not engaged in any significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the period[62] - The company has no defined benefit plans as of December 31, 2023[66] - As of December 31, 2023, the company had no capital commitments[71] - As of December 31, 2023, the company had no pledged assets for general bank financing[67] - As of December 31, 2023, the company had no contingent liabilities related to bank financing for development properties[72] - No significant events affecting the group have occurred since the end of the reporting period[88] - The company employed a total of 496 staff as of December 31, 2023, with employment costs amounting to approximately RMB 3,694,000 during the period[63] - The company did not declare any interim dividends for the six months ended December 31, 2023, consistent with the previous year[42] - The company faces foreign currency risk due to certain financial assets and liabilities being denominated in foreign currencies, primarily Hong Kong dollars, and does not use any hedging arrangements to mitigate this risk[70]

Financial Performance - Revenue for the six months ended December 31, 2023, was RMB 33,158,000, a decrease of 15.5% compared to RMB 39,163,000 for the same period in 2022[5] - Gross profit for the same period was RMB 4,910,000, down 39.5% from RMB 8,151,000 in 2022[5] - The company reported a loss before tax of RMB 1,200,000, compared to a profit of RMB 196,000 in the previous year[5] - The net loss for the period was RMB 1,485,000, compared to a loss of RMB 1,193,000 in 2022[5] - The basic and diluted loss per share for the period was RMB 0.06, compared to RMB 0.03 in the same period last year[6] - The company reported a total income tax expense of RMB 285 thousand for the six months ended December 31, 2023, down from RMB 1,389 thousand for the same period in 2022, indicating a reduction of approximately 79.5%[26] - The loss attributable to ordinary shareholders was approximately RMB 1,658,000, an increase from RMB 1,011,000 in 2022, with basic loss per share of RMB 0.06 compared to RMB 0.03 in 2022[36] Cash Flow and Assets - Cash and cash equivalents at the end of the period were RMB 62,306,000, down from RMB 63,469,000 at the end of June 2023[11] - Operating cash flow for the period was a net outflow of RMB 1,617,000, compared to an inflow of RMB 6,463,000 in the previous year[11] - Total assets less current liabilities amounted to RMB 127,560,000, a slight decrease from RMB 128,921,000 as of June 30, 2023[9] - The company’s total equity was RMB 124,676,000, down from RMB 125,976,000 at the end of June 2023[9] - Trade receivables as of December 31, 2023, were RMB 26,220,000, down from RMB 29,167,000 as of June 30, 2023, with a provision for impairment of RMB 1,789,000[30] - The net current assets were approximately RMB 101,649,000, down from RMB 102,669,000 as of June 30, 2023[46] - The total assets minus current liabilities were approximately RMB 127,560,000, compared to RMB 128,921,000 as of June 30, 2023[46] - The company's equity attributable to shareholders decreased by RMB 1,473,000 to RMB 112,639,000 as of December 31, 2023, from RMB 114,112,000 as of June 30, 2023[46] - The debt-to-equity ratio as of December 31, 2023, was negative 0.34%, compared to 0.07% as of June 30, 2023[46] Segment Performance - For the six months ended December 31, 2023, the revenue from property management services was RMB 32,786 thousand, a decrease from RMB 39,075 thousand for the same period in 2022, representing a decline of approximately 16.5%[21] - The total revenue for the property development, leasing, and management services segment was RMB 34,468 thousand for the six months ended December 31, 2023, compared to RMB 40,437 thousand for the same period in 2022, indicating a decrease of about 14.7%[21] - The adjusted loss before tax for the property development, leasing, and management services segment was RMB 1,200 thousand for the six months ended December 31, 2023, compared to a profit of RMB 196 thousand for the same period in 2022[24] - The total assets for the property development, leasing, and management services segment as of December 31, 2023, were RMB 160,620 thousand, slightly down from RMB 162,562 thousand as of June 30, 2023[23] - The total liabilities for the property development, leasing, and management services segment as of December 31, 2023, were RMB 36,397 thousand, a decrease from RMB 43,151 thousand as of June 30, 2023, reflecting a reduction of approximately 15.6%[23] - The cost of services provided for property management was RMB 27,907 thousand for the six months ended December 31, 2023, compared to RMB 30,974 thousand for the same period in 2022, showing a decrease of about 6.7%[24] - The company recorded a profit of approximately RMB 1,896,000 from property development, leasing, and management services, down from RMB 4,700,000 in 2022[41] - The total assets for the property development, leasing, and management services segment were approximately RMB 160,620,000 as of December 31, 2023, compared to RMB 162,562,000 as of June 30, 2023[41] Strategic Developments - The gold mining segment was sold on March 20, 2023, indicating a strategic shift in the company's operational focus[18] - The company plans to seek potential acquisition projects to expand its management services business in the Greater Bay Area of China[44] - The company expects the Xuzhou project to continue generating positive cash flow and enhance its expertise in property management in China[42] - The company continues to monitor its operational segments to make informed resource allocation decisions and performance evaluations[19] Corporate Governance and Compliance - The company has adopted the Corporate Governance Code but has deviated from the provision that the roles of Chairman and CEO should be separate[67] - The company has confirmed that all directors have complied with the standards set out in the Code of Conduct for securities transactions during the reporting period[68] - There are no significant interests held by directors in any competing businesses[69] - The company has no provisions in its articles of association regarding pre-emptive rights for existing shareholders when new shares are issued[70] - The Audit Committee, consisting of three independent non-executive directors, has reviewed the interim results for the six months ending December 31, 2023[72] - There have been no significant events affecting the group since the end of the reporting period[73] Employee Information - The total employee count increased to 496 as of December 31, 2023, from 491 in 2022[49] - The total employee costs, including directors' remuneration, were approximately RMB 3,694,000 during the period[49] Dividends and Investments - The company has no interim dividend declared for the six months ended December 31, 2023[29] - There were no significant investments or acquisitions during the reporting period[47][48] - The company has no capital commitments or pledged assets as of December 31, 2023[58][54] - The company has not purchased, sold, or redeemed any of its listed securities during the reporting period[65]

Financial Performance - The company's revenue for the year increased to approximately RMB 74.5 million, representing a 126% increase compared to RMB 32.96 million in the previous year[7]. - Gross profit for the year was approximately RMB 22.7 million, up from RMB 11.7 million in the previous year[14]. - The pre-tax loss decreased to approximately RMB 10.1 million from RMB 13.13 million in the previous year[14]. - The loss attributable to equity holders of the company was approximately RMB 23.1 million, compared to RMB 10.82 million in the previous year[14]. - The basic loss per share for the year was RMB 0.80, compared to RMB 0.37 in the previous year[14]. - The total equity of the group decreased to RMB 126.0 million[7]. - The property development, leasing, and management services segment recorded a profit of approximately RMB 16,960,000 for the year, compared to RMB 6,928,000 in 2022, reflecting significant growth[18]. - The gold mining segment reported a loss of approximately RMB 19,136,000 for the year, compared to a loss of RMB 343,000 in 2022, indicating a substantial decline in performance[20]. - Revenue from operations outside mainland China and Russia increased to RMB 74,542,000, up from RMB 32,614,000 in 2022, demonstrating growth in international sales[21]. - As of June 30, 2023, the company had cash and cash equivalents of approximately RMB 63,469,000, compared to RMB 29,643,000 in 2022, indicating improved liquidity[28]. - The company's asset-liability ratio was 0.07% as of June 30, 2023, a significant decrease from 27.81% in 2022, reflecting a stronger financial position[29]. Business Expansion and Strategy - The company expanded its property management services to Shenzhen and Huizhou, managing a total area of approximately 3,050,000 square meters[10]. - The acquisition of 51% stakes in Shenzhen Hailian and Huizhou Peninsula No. 1 was completed for RMB 15.5 million, with guaranteed net profit achieved[15]. - The company expects the Xuzhou project to continue generating positive cash flow[9]. - The group believes that selling its gold mining business will provide opportunities to allocate resources to develop other existing businesses[11]. - The company plans to seek potential acquisition projects to expand its management services business in the Greater Bay Area of China[27]. - The company anticipates that the Xuzhou project will continue to generate positive cash flow, enhancing its property management expertise in China[24]. Corporate Governance - The company emphasizes accountability, transparency, independence, fairness, and responsibility in its corporate governance principles[57]. - The company is currently seeking to appoint a suitable candidate for the CEO position to comply with the corporate governance code[58]. - The roles of the chairman and CEO are currently held by the same individual, which deviates from the corporate governance code[70]. - The board consists of two executive directors and three independent non-executive directors as of June 30, 2023[59]. - The board held a total of 7 meetings during the year, with an attendance rate of 100% for the executive directors[63]. - The company has established a corporate governance committee to develop and review corporate governance policies and practices[100]. - The corporate governance committee consists of three independent non-executive directors, all of whom attended 100% of the meetings held during the year[102]. - The company has received written confirmations of independence from all independent non-executive directors, affirming their independence status[101]. - The board of directors is required to hold at least one meeting annually with independent non-executive directors to discuss governance matters[101]. Risk Management and Compliance - The group faces foreign currency risk due to financial assets and liabilities denominated in foreign currencies, primarily Hong Kong dollars, and manages this risk through regular reviews[44]. - The group has established a robust risk management and internal control system to achieve business objectives and sustainable growth[87]. - The internal audit department is responsible for ensuring the effectiveness of governance, risk management, and internal control systems[91]. - The group closely monitors government policies and regulations to assess their impact on operations, ensuring compliance to avoid penalties or business interruptions[124]. Employee and Workforce Development - The company employed 500 staff as of June 30, 2023, an increase from 449 in 2022, indicating growth in workforce[35]. - The group has maintained a healthy and safe working environment for all employees, with no reported incidents of strikes or fatalities due to workplace accidents during the year[126]. - The group has established strong relationships with employees, customers, and suppliers, focusing on comprehensive benefits and professional development opportunities[126]. Shareholder Communication and Dividends - The company has a dividend policy prioritizing cash distribution to shareholders, with decisions based on financial performance and capital requirements[116]. - The board did not recommend the payment of a final dividend for the year ended June 30, 2023, consistent with the previous year[47]. - The company has adopted a shareholder communication policy to ensure timely and equal access to information for shareholders and potential investors[112]. - The company encourages shareholders to access corporate communications via its website to reduce environmental impact[112]. - The company has established a mechanism for shareholders to request special general meetings if they hold at least 10% of the voting rights[103]. Share Option Schemes - The total number of shares that can be issued under the 2003 Share Option Scheme is 40,262,500 shares, accounting for 10% of the issued shares as of January 9, 2003[151]. - The maximum number of shares that can be issued under the 2010 Share Option Scheme is 95,024,050 shares, representing 10% of the issued shares at the date of the special general meeting in 2010[162]. - The total number of shares that can be issued under the 2019 Share Option Scheme is 288,409,173 shares, which is 10% of the issued shares as of the 2019 annual general meeting[174]. - No share options were granted, exercised, lapsed, or cancelled under the 2019 Share Option Scheme during the year, and there were no unexercised options as of June 30, 2023[177]. - The exercise price for shares under the 2003 Share Option Scheme must not be lower than the highest of the closing price on the day of grant or the average closing price over the preceding five trading days[157]. - The exercise period for options granted under the 2010 Share Option Scheme is within ten years from the date of grant[166]. - The maximum number of shares that can be granted to any individual under the share option schemes is limited to 1% of the issued shares at any time[152]. - The 2003 Share Option Scheme was terminated upon the adoption of a new share option scheme on February 11, 2010[158]. - The 2010 Share Option Scheme was terminated upon the adoption of a new share option scheme on December 12, 2019[170]. - The options granted under the 2003 Share Option Scheme must be accepted within 21 days from the date of grant, with a payment of HKD 1.00 for each grant[155]. - The total number of shares available for issuance under the 2019 share option plan is 288,409,173 shares, accounting for 9.97% of the company's issued share capital[178]. - No share options were issued during the year, representing 0% of the weighted average number of relevant class shares issued by the company[178]. - The maximum number of shares that can be granted to any individual under the share option plan within any twelve-month period shall not exceed 1% of the company's issued shares[179]. - The 2019 share option plan remains valid until December 11, 2029, with a remaining term of six years[184]. Board and Management Changes - Mr. Mu Dongsheng resigned from the board of the company's subsidiary on July 20, 2023[200]. - Mr. Mao Yangguang was appointed to the board of the company's subsidiary on July 20, 2023[200]. - There are no significant transactions, arrangements, or contracts involving the company's directors with substantial interests, except as disclosed in the financial statements[200].

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，並明確表示概不對因本公佈全部或任何部份內容而產生 或因倚賴該等內容而引致之任何損失承擔任何責任。 KINGWELL GROUP LIMITED 京 維 集 團 有 限 公司 （於開曼群島註冊成立之有限公司） 1195 （股份代號： ） 截至二零二三年六月三十日止年度 全年業績公佈 業績 京維集團有限公司（「本公司」或「京維」）董事（「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年度（「本年度」）之初步綜合業績，連 同截至二零二二年六月三十日止年度同期之比較數字。 ...

Financial Performance - Revenue for the six months ended December 31, 2022, was approximately RMB 39,163,000, a significant increase from RMB 9,224,000 in the same period last year[3] - Gross profit for the same period was RMB 8,151,000, compared to RMB 3,641,000 in the previous year, reflecting a gross margin improvement[8] - The company reported a loss attributable to owners of the company of RMB 1,011,000, an improvement from a loss of RMB 2,504,000 in the prior year[9] - Basic and diluted loss per share for the period was RMB 0.03, compared to RMB 0.09 in the same period last year[9] - The company experienced a comprehensive loss of RMB 12,403,000 for the period, compared to RMB 4,168,000 in the previous year[9] - The total comprehensive loss for the period was RMB 6,552,000, which includes a foreign exchange loss of RMB 5,541,000 related to overseas operations[12] - The company recorded a net cash flow from operating activities of RMB 6,463,000 for the six months ended December 31, 2022, compared to a net cash outflow of RMB 2,504,000 in the same period last year[14] - The company incurred a total tax expense of RMB 1,389,000 for the period, slightly higher than RMB 1,267,000 in the previous year[36] Assets and Liabilities - Total equity decreased to RMB 133,952,000 from RMB 146,355,000 as of June 30, 2022[11] - Non-current assets decreased to RMB 62,785,000 from RMB 74,310,000, primarily due to a reduction in intangible assets[10] - Current assets increased slightly to RMB 182,787,000 from RMB 180,173,000, with cash and cash equivalents rising to RMB 39,052,000[10] - Current liabilities totaled RMB 109,593,000, up from RMB 106,101,000, indicating a slight increase in short-term obligations[10] - The company’s total assets less current liabilities stood at RMB 135,979,000, down from RMB 148,382,000 as of June 30, 2022[11] - As of December 31, 2022, the total equity of the company was RMB 133,952,000, a decrease from RMB 137,908,000 as of June 30, 2022[12] - The company’s accumulated losses increased to RMB 873,003,000 as of December 31, 2022, up from RMB 862,074,000 at the end of the previous period[12] - Cash and cash equivalents at the end of the reporting period were RMB 39,052,000, down from RMB 49,888,000 at the beginning of the period[14] Segment Performance - The property development, leasing, and management segment generated revenue of RMB 40,437,000, while the gold mining segment reported a loss of RMB 207,000, resulting in a total adjusted profit before tax of RMB 196,000[26] - Revenue from property sales was RMB 39,163,000, a significant increase from RMB 9,224,000 in the same period last year, reflecting a growth of approximately 326%[32] - The cost of sold properties was RMB 38,000, compared to RMB 838,000 in the previous year, indicating a reduction in costs[34] - The adjusted profit before tax for the property development segment was RMB 4,700,000, while the gold mining segment reported an adjusted loss of RMB 207,000[26] - The property development, leasing, and management services segment recorded a profit of approximately RMB 4,700,000, compared to RMB 2,735,000 in the previous year[55] Investments and Acquisitions - The company completed the acquisition of 51% stakes in Shenzhen Hailian Property Management Co., Ltd. and Huizhou Huiyang Peninsula No. 1 Property Management Co., Ltd. for RMB 15,500,000, contributing to revenue growth[54] - The group plans to sell a 51% stake in Commerce Prosper Limited for RMB 26,500,000 due to the suspension of mining operations caused by the Russia-Ukraine war[63] - The group agreed to sell 51% of Commerce Prosper Limited for RMB 26,500,000, which holds gold mining assets in Russia, indicating strategic expansion efforts[48] Governance and Compliance - The company has adopted the corporate governance code but has deviated from the code regarding the roles of the chairman and CEO, which are held by the same individual[86] - The company confirmed that all directors complied with the standards set out in the code during the reporting period[87] - The audit committee, consisting of three independent non-executive directors, reviewed the interim results for the six months ended December 31, 2022[91] Market Strategy and Future Plans - The company plans to continue monitoring market conditions and adjust its strategies accordingly to improve financial performance in the future[13] - The group aims to enhance property management services in Xuzhou, Jiangsu Province, contributing positively to overall business performance[60] - The group plans to seek potential acquisition projects to expand its management services in the Greater Bay Area[64] Shareholder Information - The largest shareholder, Chaolian Group Limited, holds 394,198,376 shares, representing 13.62% of the issued shares[82] - The second largest shareholder, Yin Jiatang, holds 217,880,604 shares, accounting for 7.53% of the issued shares[82] - The company has not reported any significant impact on its financial position or performance due to the recent accounting policy changes[24] Staffing and Operations - The group employed 491 staff as of December 31, 2022, a significant increase from 85 staff in the previous year[69] - The group had bank financing for development properties amounting to RMB 460,000 as of December 31, 2022, unchanged from June 30, 2022[77] - The group had no capital commitments, consistent with the previous year[76] Dividends - The company has no interim dividend declared for the six months ended December 31, 2022[40] - No interim dividend was declared for the six months ended December 31, 2022, similar to the previous year[78]

Financial Performance - The company's revenue for the year decreased to approximately RMB 33.0 million, a decline of about 3.8% compared to the previous year[7] - Gross profit for the year was approximately RMB 11.7 million, an increase from RMB 8.6 million in the previous year[12] - The pre-tax loss increased to approximately RMB 13.1 million, compared to RMB 5.5 million in the previous year[12] - The loss attributable to equity holders of the company was approximately RMB 10.8 million, up from RMB 6.4 million in the previous year[12] - The basic loss per share attributable to ordinary shareholders was RMB 0.37, compared to RMB 0.22 in the previous year[12] - The total equity of the group increased to RMB 146.4 million[7] - The company’s cash and cash equivalents as of June 30, 2022, were approximately RMB 29,643,000, down from RMB 51,622,000 in the previous year[31] - As of June 30, 2022, the total equity attributable to the owners of the company decreased by approximately RMB 2,712,000 to about RMB 114,346,000 compared to RMB 117,058,000 in 2021[32] - The group's debt-to-equity ratio as of June 30, 2022, was 27.81%, compared to a net cash position in 2021[32] Property Management Expansion - The company completed the acquisition of 51% stakes in Shenzhen Hailian Property Management Co., Ltd. and Huizhou Huiyang Peninsula No. 1 Property Management Co., Ltd.[9] - The property management portfolio expanded to include 864 parking spaces and a total managed area of approximately 3,050,000 square meters[9] - The company expects the property management services in Xuzhou, Shenzhen, and Huizhou to significantly improve the scale of property leasing and management services, enhancing revenue sources[14] - The company anticipates that the acquisition will enhance the scale of property management and revenue sources[9] - The company anticipates that the property management business in Xuzhou will continue to contribute positively to its overall performance[26] - The company is seeking potential acquisition projects to expand its management services in the Greater Bay Area[29] - The company has completed the acquisition of 51% stakes in Shenzhen Hailian and Huizhou Huiyang, expanding its property management services in the Greater Bay Area[27] Gold Mining Segment - The gold mining segment recorded a loss of approximately RMB 343,000, compared to a profit of RMB 398,000 in the previous year[22] - As of June 30, 2022, the fair value of the mining and exploration rights was estimated at RMB 41,000,000, with an impairment of RMB 10,119,000 recognized during the year[21] - The company expects to resume normal production at the Russian gold mine in 2023, following disruptions due to the COVID-19 pandemic and the Russia-Ukraine war[18] - As of June 30, 2022, the total assets of the gold mining segment were approximately RMB 48,102,000, an increase from RMB 43,109,000 in the previous year[22] - The estimated future gold prices used in the valuation report range from $1,865 to $2,033 per ounce for the period from July 2023 to June 2028[18] - The company plans to continue signing contracts with subcontractors, sharing 30% of the net profits from mining operations[21] Corporate Governance - The company is committed to achieving statutory and regulatory corporate governance standards, emphasizing accountability, transparency, independence, fairness, and responsibility[62] - The company has adopted the standard code of conduct for securities transactions by directors as per the listing rules[64] - The company plans to seek suitable candidates for the CEO position to comply with corporate governance code C.2.1 in the future[63] - The independent non-executive directors have extensive experience in accounting, investment analysis, and corporate governance, contributing to the board's effectiveness[66] - The company ensures that all directors participate in a continuous professional development program to enhance their knowledge and skills[75] - The audit committee, remuneration committee, and corporate governance committee include members from the independent non-executive directors, ensuring oversight and governance[66] - The company has maintained compliance with the corporate governance code, with minor deviations acknowledged and addressed[63] - The board consists of three independent non-executive directors, exceeding one-third of the total board members, ensuring compliance with listing rules[77] - The company has not separated the roles of Chairman and CEO, with Mr. Mu Dongsheng currently holding both positions[78] - The remuneration committee held one meeting during the year to review the compensation of the board and senior management[83] - The audit committee, composed entirely of independent non-executive directors, held two meetings to review the annual financial statements and interim reports[84] - The company has established a nomination policy to ensure diversity and effectiveness in the board selection process[88] - The remuneration committee consists of three members, including one executive director and two independent non-executive directors[83] - The company’s training programs for directors aim to update their knowledge on new regulations and governance practices[76] - The company has adopted a board diversity policy to enhance performance, considering factors such as gender, age, culture, and professional experience[92] - The Nomination Committee held one meeting during the year to assess the independence of non-executive directors, with a 100% attendance rate[92] - The Corporate Governance Committee, consisting of three independent non-executive directors, held two meetings to review governance policies, also achieving a 100% attendance rate[93] - The external auditor, Ernst & Young, received a total fee of HKD 2,300,000 for audit services and HKD 100,000 for non-audit services during the year[97] - The company prioritizes cash dividends, with decisions based on financial performance, operational needs, and capital requirements[103] - The company actively promotes communication with investors and shareholders through annual and interim reports, press releases, and its website[105] - The board is committed to ensuring the accuracy of financial statements and has confirmed no significant uncertainties affecting the company's ability to continue as a going concern[95] - The company has established a policy for shareholders to request special general meetings if they hold at least 10% of the paid-up capital[99] - The company’s governance practices are in compliance with applicable codes and regulations, with no known violations reported[93] - The company’s secretary has completed over 15 hours of relevant professional training as required by listing rules[98] - The company maintains a robust risk management and internal control system to achieve business objectives and sustainable growth[106] - The management prepares an annual financial budget, which is revised quarterly and approved by the executive directors[107] - The company has established guidelines and procedures for approving and controlling expenditures, with capital expenditures subject to overall monitoring[110] - The internal audit department is responsible for ensuring the effectiveness of governance, risk management, and internal control systems[111] - The company closely monitors government policies and regulations to assess their impact on operations[123] - The company relies on reputable third-party service providers to enhance performance and efficiency, mitigating risks associated with service disruptions[124] Customer and Supplier Relationships - The largest customer is a property developer in Xuzhou, with significant relationships maintained for over a year[127] - As of June 30, 2022, most trade receivables from major customers have been settled[127] - The company does not provide credit terms without special approval from management for transactions not denominated in the functional currency[127] - The largest customer accounted for 45% of the group's total sales, while the top five customers combined represented 47%[129] - The largest supplier contributed 21% to the group's total procurement, with the top five suppliers together accounting for 69%[129] - The group has established partnerships with independent third-party suppliers to effectively meet customer needs[128] - The group emphasizes customer feedback and trends through various channels, including business intelligence[128] - The group conducts comprehensive testing and inspections to ensure the quality of properties and services provided to customers[128] - The company has established effective communication with suppliers regarding project requirements and standards before project commencement[128] Share Options and Ownership - The total number of shares that can be issued under the 2010 Share Option Scheme is 95,024,050 shares, accounting for 10% of the shares issued as of the date of the special general meeting in 2010[158] - The maximum number of shares that can be issued under the 2019 Share Option Scheme is 288,409,173 shares, representing 9.97% of the company's issued share capital[171] - No share options were granted, exercised, lapsed, or cancelled under the 2019 Share Option Scheme during the year ending June 30, 2022[170] - The 2019 Share Option Scheme remains valid until December 11, 2029, with a remaining term of seven years[176] - The exercise price for shares under the 2019 Share Option Scheme is determined by the board and cannot be less than the higher of the closing price on the date of grant or the average closing price over the preceding five trading days[175] - The maximum number of share options that can be granted to any individual in a twelve-month period cannot exceed 1% of the company's issued shares[172] - The 2010 Share Option Scheme was terminated after the adoption of a new share option scheme on December 12, 2019[165] - The company has no unexercised share options under the 2010 Share Option Scheme as of the report date[158] - The company must issue a circular for any share options granted exceeding the 1% limit and obtain shareholder approval[161] - The share options granted must be accepted within 7 days from the date of grant or within another period specified by the board[174] - As of June 30, 2022, Mr. Du Yun holds 394,198,376 shares, representing 13.62% of the issued share capital[181] - Mr. Mu Dongsheng is the beneficial owner of 277,777,777 shares, accounting for 9.60% of the issued share capital[181] - Chao Lian Group Limited, beneficially owned by Mr. Du Yun, holds 394,198,376 shares, which is 13.62% of the issued share capital[185] - Mr. Yin Jiatang holds 217,880,604 shares, representing 7.53% of the issued share capital[185] - No significant transactions or arrangements involving directors' interests were disclosed during the year[191] - The company did not purchase, sell, or redeem any of its listed securities during the year[196] Miscellaneous - The group completed the sale of a 51% stake in Guangzhou Ronghui Chain Life Technology Co., Ltd. for RMB 510,000 (approximately HKD 630,000) on June 30, 2022[34] - On January 18, 2022, the group agreed to acquire a 51% stake in a property management company for RMB 15,500,000 (approximately HKD 19,070,000), with the transaction completed on April 29, 2022[35] - The total employee count increased to 449 as of June 30, 2022, from 72 in 2021[39] - Employee costs, including directors' remuneration, were approximately RMB 14,255,000 for the year, compared to RMB 11,291,000 in 2021[39] - The board did not recommend the payment of a final dividend for the year ended June 30, 2022, compared to no dividend in 2021[51] - The group has no significant future investment plans or expected sources of funding as of June 30, 2022[47] - The group faces foreign currency risk primarily from financial assets and liabilities denominated in foreign currencies, mainly HKD and Russian Ruble[48] - As of June 30, 2022, the group had no capital commitments[49] - The group has not made any charitable donations during the year, maintaining the same status as the previous year[141] - The company has no available reserves for cash distribution as of June 30, 2022[136] - There were no management or administrative contracts related to the company's business during the year[194] - The company does not have provisions for pre-emptive rights in its articles of association or under Cayman Islands law[197] - The audit committee, consisting of three independent non-executive directors, reviewed the group's interim and annual performance[198] - The company has maintained appropriate directors and senior officers' liability insurance throughout the year[190]

Financial Performance - The revenue for the six months ended December 31, 2021, was approximately RMB 9,224,000, a decrease from RMB 22,631,000 in the same period last year, representing a decline of 59.3%[3] - The pre-tax loss for the same period was approximately RMB 2,014,000, compared to a loss of RMB 1,288,000 in the previous year, indicating an increase in losses of 56.4%[8] - The loss attributable to the owners of the company was approximately RMB 2,504,000, down from RMB 3,388,000 in the prior year, reflecting a reduction of 26.0%[9] - The gross profit for the six months was RMB 3,641,000, down from RMB 5,487,000, representing a decrease of 33.6%[8] - The total comprehensive loss for the period was RMB 4,168,000, compared to RMB 11,623,000 in the previous year, indicating a significant reduction of 64.1%[9] - The basic and diluted loss per share for the period was RMB 0.09, compared to RMB 0.12 in the same period last year, showing an improvement of 25.0%[9] - The company reported a net cash outflow from operating activities of RMB (2,504) thousand for the six months ended December 31, 2021, compared to a cash inflow of RMB 12,785 thousand in the same period of 2020[16] - The adjusted loss before tax for the six months ended December 31, 2021, was RMB 2,014,000, compared to a loss of RMB 1,288,000 in the same period of 2020[24] Assets and Equity - The total equity of the group decreased to RMB 133,740,000 from RMB 137,908,000, a decline of 3.1%[12] - Non-current assets totaled RMB 49,330,000, a decrease from RMB 51,076,000, reflecting a decline of 3.4%[11] - Current assets amounted to RMB 132,311,000, down from RMB 134,107,000, a decrease of 1.3%[12] - The net current asset value was RMB 85,915,000, compared to RMB 88,202,000, indicating a decline of 2.9%[12] - The company recorded a total equity of RMB 140,182 thousand as of December 31, 2021, a decrease from RMB 150,876 thousand as of June 30, 2021[14] - The company's total equity attributable to owners decreased by RMB 3,220,000 to RMB 113,838,000 as of December 31, 2021[61] Revenue Breakdown - Revenue from property development, leasing, and management services was RMB 9,095,000 for the six months ended December 31, 2021, a decrease of 53.8% from RMB 19,840,000 in the same period of 2020[29] - Gold mining revenue was RMB 341,000 for the six months ended December 31, 2021, down 88.6% from RMB 2,983,000 in the same period of 2020[29] - The total revenue for the group was RMB 9,436,000 for the six months ended December 31, 2021, compared to RMB 22,823,000 for the same period in 2020, representing a decline of 58.7%[24] Investments and Acquisitions - The company has entered into a conditional equity transfer agreement to acquire 51% of Shenzhen Hailian Property Management Co., Ltd. and Huizhou Huyang Peninsula No. 1 Property Management Co., Ltd. for RMB 15.50 million[47] - The company has completed the acquisition of 700 parking spaces in Xuzhou, China, as part of its expansion into the Chinese property market[56] - The company has acquired three commercial buildings in Xuzhou, which are expected to contribute positively to its property management business[56] - The company holds a 51% stake in Shangxing Limited, with an investment cost of USD 13 million (approximately RMB 81.7 million), involved in gold mining operations in Russia[53] Shareholder Information - As of December 31, 2021, the company had significant shareholders, with Chao Lian Group Limited holding 394,198,376 shares, representing 13.62% of the issued shares[77] - Mr. Yin Jia Tang is another major shareholder, owning 217,880,604 shares, which accounts for 7.53% of the issued shares[77] Corporate Governance - The audit committee, consisting of three independent non-executive directors, reviewed the interim results for the six months ending December 31, 2021[87] - The company has adopted the corporate governance code as per the listing rules, with a noted deviation regarding the roles of the chairman and CEO[82] - The company confirmed compliance with the standards of the code of conduct for securities transactions by all directors during the reporting period[84] Other Financial Information - The company did not declare any interim dividends for the six months ended December 31, 2021, and 2020[37] - The company did not purchase, sell, or redeem any of its listed securities during the reporting period[81] - The company has no major investments held during the six months ended December 31, 2021[62] - The company faces foreign currency risk due to certain financial assets and liabilities being denominated in foreign currencies, but expects no significant impact on its operating performance[69] - No other significant events affecting the group occurred after the reporting period[90]