Financial Performance - The company's revenue for the year decreased to approximately RMB 34.2 million, a decline of about 23.3% compared to RMB 44.6 million in the previous year[10] - Gross profit for the year was approximately RMB 8.6 million, down from RMB 13.2 million in the previous year[10] - The pre-tax loss reduced to approximately RMB 5.5 million, compared to RMB 21.0 million in the previous year[10] - Loss attributable to equity holders of the company was approximately RMB 6.4 million, down from RMB 13.2 million in the previous year[10] - Basic loss per share for the year was RMB 0.22, compared to RMB 0.46 in the previous year[10] - The property development, leasing, and management services segment recorded a profit of approximately RMB 4.8 million, down from RMB 11.2 million in the previous year[12] - Revenue from operations outside mainland China and Russia was RMB 31,298,000 and RMB 2,948,000 respectively, showing a decrease from RMB 44,634,000 in 2020[18] - The gold mining segment recorded a profit of approximately RMB 398,000 for the year, compared to a loss of RMB 628,000 in 2020[17] Equity and Assets - The total equity of the group decreased to RMB 137.9 million[6] - As of June 30, 2021, the segment assets for property development, leasing, and management services were approximately RMB 133.6 million[12] - As of June 30, 2021, the company's cash and cash equivalents were approximately RMB 51,622,000, down from RMB 84,596,000 in 2020[22] - The company has no interest-bearing borrowings as of June 30, 2021, maintaining a net cash position[23] Acquisitions and Investments - The company completed the acquisition of 700 parking spaces in Xuzhou, which is expected to positively contribute to the property management business[7] - The company completed the acquisition of three commercial buildings in Xuzhou for RMB 40 million, enhancing its property management capabilities in China[28] - The company holds a 51% stake in Shangxing Limited, with an investment cost of $13 million, and operates a gold mining project in Russia covering an area of approximately 309.3 square kilometers[15] - The estimated fair value of the Russian gold mine's exploration and mining rights as of June 30, 2021, is approximately RMB 42 million, with a projected gold price range of $1,713 to $1,931 per ounce[17] - The company plans to seek light-asset and potential new investment opportunities in Shenzhen and Guangzhou to join the development of the Greater Bay Area[8] - The company has established subsidiaries in Shenzhen and Guangzhou to explore new investment opportunities in the Greater Bay Area[21] Employee and Compensation - As of June 30, 2021, the group employed a total of 72 employees, down from 87 in 2020[29] - The total employee compensation cost, including directors' remuneration, was approximately RMB 11,291,000, compared to RMB 9,830,000 in 2020, reflecting an increase of about 15%[29] Corporate Governance - The group is committed to achieving statutory and regulatory corporate governance standards, emphasizing accountability, transparency, independence, fairness, and responsibility[49] - The company has adopted the corporate governance code as per Appendix 14 of the listing rules, with the exception of the separation of roles between the Chairman and CEO, which is currently held by Mr. Mu Dongsheng[50] - The board consists of two executive directors and three independent non-executive directors as of June 30, 2021, ensuring a balanced composition with relevant knowledge and experience[53] - The board held a total of 6 meetings during the year, with full attendance from all directors[57] - The company convened two shareholder meetings during the year, including a special meeting on January 25, 2021, and an annual meeting on December 16, 2020[60] - The company is in the process of identifying and appointing a suitable candidate for the CEO position to comply with the corporate governance code[50] - All directors participated in continuous professional development training to update their knowledge and skills[62] - The board has delegated daily operational responsibilities to the executive directors and management while retaining oversight of overall strategy and performance[56] - The company has confirmed that all directors complied with the standards set forth in the trading code for directors during the year[52] - The independent non-executive directors provide independent judgment on strategy, performance, and risk matters, ensuring compliance with listing rules[66] Committees and Meetings - The remuneration committee held two meetings during the year to review the remuneration of the board and senior management, with a 100% attendance rate from all members[1] - The audit committee conducted two meetings to review the annual performance and financial statements, with all members attending both meetings[2] - The nomination committee held one meeting to assess the independence of independent non-executive directors, achieving a 100% attendance rate[3] - The company paid RMB 1,678,000 for audit services to Ernst & Young during the year, with no fees for non-audit services[4] Risk Management - The board of directors is responsible for assessing and determining the nature and extent of risks the company is willing to take to achieve strategic objectives[98] - The internal audit department is responsible for ensuring the effectiveness of governance, risk management, and internal control systems across all departments and subsidiaries[103] - The company encourages a culture of risk awareness and management across all levels of the organization[98] - The board regularly reviews internal control reports to evaluate the effectiveness of the company's risk management and internal control systems[103] - The company has a policy in place for handling and disclosing insider information to prevent misuse[102] Share Capital and Dividends - The board did not recommend the payment of a final dividend for the year ended June 30, 2021, consistent with no dividends in 2020[37] - The total number of issued shares as of June 30, 2021, was 2,894,091,737, following the conversion of redeemable convertible preference shares into 10,000,000 ordinary shares[38] - The major shareholder, Chao Lian Group Limited, held 394,198,376 shares, representing approximately 13.62% of the expanded issued share capital[38] - The company has adopted a dividend policy prioritizing cash distribution to shareholders, with decisions based on financial performance, operational needs, and capital requirements[94] Supplier and Customer Relationships - The largest customer accounted for 44% of the group's total sales, while the top five customers combined represented 61%[122] - The largest supplier contributed to 29% of the group's total procurement, with the top five suppliers together accounting for 80%[122] Compliance and Regulations - The company has been closely monitoring government policies and regulations to assess their impact on business operations[116] - The group faced foreign currency risk due to certain financial assets and liabilities being denominated in foreign currencies, primarily HKD and RUB, but anticipated no significant impact on operating performance from currency fluctuations[34] - The group had no significant future investment plans or anticipated sources of funding as of June 30, 2021[33] - The group had contingent liabilities related to bank financing granted to property buyers amounting to RMB 460,000, a decrease from RMB 2,480,000 in 2020[36] Miscellaneous - The company reported no charitable donations during the fiscal year, consistent with the previous year[135] - The group has no significant events affecting its operations since the end of the fiscal year[114] - The company has a policy of not providing credit terms without special approval from management for transactions not denominated in the functional currency[120] - The company did not acquire, sell, or redeem any of its listed securities during the year[193] - The company has maintained appropriate directors and senior officers liability insurance throughout the year[186] - The company has not disclosed any significant interests held by directors in competing businesses[188] - The company will propose the reappointment of Ernst & Young as its auditor at the upcoming annual general meeting[200]

Financial Performance - Revenue for the six months ended December 31, 2020, was approximately RMB 22,631,000, an increase from RMB 20,187,000 in the same period of 2019, representing a growth of 12.1%[2] - The company reported a pre-tax loss of approximately RMB 1,288,000 for the six months ended December 31, 2020, compared to a profit of RMB 958,000 in the same period of 2019[7] - Loss attributable to owners of the company for the six months ended December 31, 2020, was approximately RMB 3,388,000, compared to RMB 2,044,000 in the same period of 2019, indicating an increase in loss of 65.7%[8] - Basic and diluted loss per share for the period was RMB 0.12, compared to RMB 0.07 in the same period of 2019, reflecting a 71.4% increase in loss per share[8] - The group's gross profit for the six months ended December 31, 2020, was RMB 5,487,000, down from RMB 8,389,000 in the same period of 2019, representing a decline of 34.3%[7] - Other income and gains for the six months ended December 31, 2020, were RMB 1,124,000, compared to RMB 451,000 in the same period of 2019, showing an increase of 149.2%[7] - The total comprehensive income/loss for the period was a loss of RMB 7,435,000, which includes a loss of RMB 3,388,000 from operations and a foreign exchange loss of RMB 4,047,000[15] - The adjusted profit before tax for the group was a loss of RMB 1,288,000, compared to a profit of RMB 958,000 for the same period in 2019[26] - The group reported a basic loss per share of RMB 1.17 for the period, compared to RMB 0.71 in the previous year[39] Assets and Liabilities - Total equity of the group decreased to RMB 140,182,000 as of December 31, 2020, down from RMB 150,876,000 as of June 30, 2020[11] - The group's total assets less current liabilities amounted to RMB 143,563,000 as of December 31, 2020, compared to RMB 155,122,000 as of June 30, 2020[11] - Non-current assets totaled RMB 50,915,000 as of December 31, 2020, down from RMB 59,717,000 as of June 30, 2020[10] - The company's total liabilities as of December 31, 2020, were RMB 856,318,000, reflecting ongoing financial challenges[13] - The group's total assets as of December 31, 2020, were RMB 181,242,000, a decrease from RMB 190,126,000 as of June 30, 2020[31] - The group's total liabilities as of December 31, 2020, were RMB 32,693,000, slightly down from RMB 32,560,000 as of June 30, 2020[31] Cash Flow - The company reported a net cash flow from operating activities of RMB 12,785,000 for the six months ended December 31, 2020, compared to a net cash outflow of RMB 4,366,000 in the same period of 2019[15] - The company had a net cash inflow from investing activities of RMB 825,000, significantly lower than RMB 18,851,000 in the previous year, primarily due to the sale of a joint venture in 2019[15] - The company's cash and cash equivalents increased to RMB 97,622,000 as of December 31, 2020, compared to RMB 84,596,000 as of June 30, 2020, indicating a growth of 15.4%[10] - The company's cash and cash equivalents increased to RMB 97,622,000 as of December 31, 2020, up from RMB 75,593,000 at the end of 2019[15] Business Segments - The property development, leasing, and management segment generated revenue of RMB 19,648,000, while the gold mining segment contributed RMB 2,983,000[26] - The property management business in Xuzhou is expected to contribute positively to the group, enhancing its expertise in daily property management[70] - The property development, leasing, and management services segment recorded a profit of approximately RMB 2,519,000, down from RMB 7,359,000 in 2019[63] - The gold mining segment reported a loss of approximately RMB 496,000, an improvement from a loss of RMB 1,461,000 in 2019[67] - As of December 31, 2020, the gold mining segment's assets were approximately RMB 41,566,000, down from RMB 49,748,000 as of June 30, 2020[67] Corporate Governance and Compliance - The audit committee, consisting of three independent non-executive directors, reviewed the interim results for the six months ended December 31, 2020[101] - The company has adopted the corporate governance code but deviated from the code provision A.2.1 regarding the separation of roles of the chairman and CEO[96] - The company has confirmed that all directors complied with the standards set out in the code during the reporting period[97] - No directors or senior management have significant interests in any competing businesses[98] Shareholder Information - The company has issued 2,894,091,737 shares as of December 31, 2020, with a total issued and paid-up capital of RMB 253,720,000 (approximately USD 36.5 million)[48] - The company has significant shareholdings, with Mr. Du Yun holding 394,198,376 shares, representing 13.62% of the issued shares[90] - Mr. Mu Dongsheng holds 277,777,777 shares, accounting for 9.60% of the issued shares[90] - The company has not purchased, sold, or redeemed any of its listed securities during the reporting period[94] Future Outlook - The group plans to further expand its property-related business in China, including the conditional agreement to purchase three commercial buildings in Xuzhou[70] - The company will continue to implement its diversification strategy and actively seek potential investment opportunities in the future[74] - The company plans to conduct small-scale production before large-scale mining operations due to the complex rock composition in the northern Molchan area, with a mining plan submitted to local authorities in October 2017[71] Employee Information - The company employed a total of 87 employees as of December 31, 2020, up from 77 employees in 2019[79]

Financial Performance - The company's revenue for the year increased to approximately RMB 44.6 million, representing a growth of about 3.4% compared to RMB 43.2 million in the previous year[19]. - Gross profit for the year was approximately RMB 13.2 million, down from RMB 14.6 million in the previous year, primarily due to a decrease in gross profit from property management services[19]. - The pre-tax loss increased to approximately RMB 21.0 million, compared to RMB 3.9 million in the previous year, mainly due to impairment of intangible assets[19]. - Loss attributable to equity holders of the company was approximately RMB 13.2 million, compared to RMB 8.5 million in the previous year[19]. - Basic loss per share for the year was RMB 0.46, compared to RMB 0.29 in the previous year[19]. - The total equity of the group decreased to RMB 150.9 million[9]. - The property development, leasing, and management services segment recorded a profit of approximately RMB 11,195,000 for the year, compared to RMB 11,761,000 in 2019, indicating a decrease of about 4.8%[23]. - The gold mining segment reported a loss of approximately RMB 628,000 for the year, a significant improvement from a loss of RMB 2,501,000 in 2019[30]. - The company reported a loss attributable to owners of approximately RMB 13,235,000, resulting in a basic and diluted loss per share of RMB 0.46[150]. Business Strategy and Expansion - The company plans to expand its property-related business in China and has entered into an agreement to acquire three commercial buildings in Xuzhou[12]. - The company will continue to implement its diversification strategy and actively seek potential property-related investment opportunities[16]. - The company has expanded its property development and leasing business in Anlu, Hubei Province, despite challenges posed by the COVID-19 pandemic[32]. - The company expects the Anlu project to continue generating positive cash flow despite significant pressure in the real estate market[32]. - The property management business in Xuzhou, Jiangsu Province, is expected to enhance the group's expertise in daily property management, contributing positively to the group's overall performance[34]. - The group has completed the acquisition of 700 parking spaces in Xuzhou, which is seen as a good opportunity to expand in the Chinese property market[34]. - The group has entered into a conditional agreement to purchase three 3-story commercial buildings in Xuzhou, with completion expected by August 31, 2021[34]. Cash Flow and Assets - As of June 30, 2020, the group's cash and cash equivalents amounted to approximately RMB 84,596,000, an increase from RMB 61,540,000 in 2019[40]. - The group's total assets less current liabilities were approximately RMB 155,122,000 as of June 30, 2020, down from RMB 190,952,000 in 2019[40]. - The group recorded a decrease in total equity attributable to owners of the company to approximately RMB 126,657,000 as of June 30, 2020, from RMB 142,601,000 in 2019[41]. - The group has no interest-bearing borrowings as of June 30, 2020, maintaining a net cash position[41]. - As of June 30, 2020, the gold mining segment's assets were approximately RMB 49,748,000, down from RMB 84,383,000 in 2019[30]. Corporate Governance - The board consists of two executive directors and three independent non-executive directors, ensuring a balanced composition with relevant knowledge and experience[71]. - The board is responsible for overall strategy and performance oversight, including approval of annual and interim results, dividend declarations, and accounting policies[74]. - The company is committed to achieving statutory and regulatory corporate governance standards, emphasizing accountability, transparency, and fairness[67]. - The company has adopted the standard code of conduct for securities transactions by directors, confirming compliance by all directors during the year[70]. - The company plans to seek suitable candidates for the CEO position to comply with corporate governance code provisions regarding the separation of roles[68]. - The independent non-executive directors have confirmed their independence, ensuring unbiased judgment on strategy, performance, and risk matters[83]. - The company has established a clear distinction between the roles of the chairman and the CEO, although currently, Mu Dongsheng holds both positions[84]. Risk Management - The board has overall responsibility for assessing and determining the nature and extent of risks the group is willing to take to achieve strategic objectives, ensuring effective risk management and internal control systems are in place[111]. - The management prepares an annual financial budget, which is revised quarterly and approved by the executive directors, ensuring alignment with operational performance[112]. - The group has established guidelines and procedures for approving and controlling expenditures, with capital expenditures subject to strict monitoring and approval processes[114]. - The internal audit department is responsible for ensuring the effectiveness of governance, risk management, and internal control systems across all departments and subsidiaries[115]. - The company closely monitors government policies and regulations, assessing their impact on business operations to ensure compliance and mitigate risks[127]. Shareholder Communication and Dividends - The company has a policy in place to ensure effective communication between the board and shareholders, primarily through annual general meetings and financial reports[105]. - The company has adopted a dividend policy prioritizing cash dividends to share profits with shareholders, with decisions based on financial performance, operational needs, and other relevant factors[107]. - The board did not recommend a final dividend for the year ended June 30, 2020, similar to 2019[57]. - The company did not recommend a final dividend for the year, consistent with the previous year[137]. - The company allows shareholders holding at least 10% of the paid-up capital to request a special general meeting to address specified matters[103]. Employee and Board Composition - The group employed a total of 87 staff as of June 30, 2020, compared to 77 in 2019, with total employee costs of approximately RMB 9,830,000[48]. - The board held seven meetings during the year, with all executive directors attending all meetings, resulting in a 100% attendance rate[75]. - The company convened two shareholder meetings in the year, with executive director Mu Dongsheng attending both, achieving a 100% attendance rate[78]. - The remuneration committee held two meetings during the year, with all members, including the chairman, attending both meetings[88]. - The audit committee also held two meetings during the year, with all independent non-executive directors attending both meetings[89]. - The Nomination Committee held two meetings during the year to assess the independence of non-executive directors, with a 100% attendance rate from all members[95]. 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[154]. - The maximum number of shares that can be issued under the 2010 Share Option Scheme is initially 95,024,050 shares, representing 10% of the issued shares at the time of the special general meeting in 2010[165]. - A total of 183,304,000 share options under the 2010 Share Option Scheme have lapsed, with no options granted, exercised, or cancelled during the year[165]. - The maximum number of share options that can be granted to any individual within a twelve-month period is capped at 1% of the company's issued shares[168]. - The 2003 Share Option Scheme was terminated on February 11, 2010, when a new share option scheme was adopted[161]. - The 2010 Share Option Scheme was terminated on December 12, 2019, following the adoption of a new share option scheme[172]. - The exercise price for shares under the 2003 Share Option Scheme must not be lower than the higher of the closing price on the date of grant or the average closing price over the preceding five trading days[160]. - The exercise period for vested options under the 2003 Share Option Scheme is limited to ten years from the date of grant[156]. - The options granted under the 2010 Share Option Scheme must be accepted within 7 days from the date of grant[170]. - The 2019 Share Option Scheme was adopted on December 12, 2019, to encourage and reward eligible participants contributing to the group's success[173]. - The total number of shares that can be issued under the 2019 share option scheme is 288,409,173 shares, accounting for 10% of the issued shares as of the date of the 2019 annual general meeting[178]. - No share options were granted, exercised, lapsed, or cancelled during the year, and there were no unexercised share options as of June 30, 2020[186]. - The maximum number of shares that can be granted to any individual under the share option scheme is capped at 1% of the issued shares at any time[180]. - The 2019 share option scheme remains valid until December 11, 2029, with a remaining term of nine years[184]. - The exercise price for each share option is determined by the board and cannot be less than the higher of the closing price on the day of grant or the average closing price over the preceding five trading days[183]. Shareholding Structure - As of June 30, 2020, Du Yun holds 384,198,376 shares, representing 13.32% of the issued share capital, while Mu Dongsheng holds 277,777,777 shares, representing 9.63%[194]. - As of June 30, 2020, Chao Lian Group Limited holds 384,198,376 shares, representing approximately 13.32% of the issued shares[198]. - Mr. Yin Jia Tang owns 217,880,604 shares, accounting for 7.55% of the issued shares[198]. - No other shareholders are known to hold 5% or more of the issued shares as of June 30, 2020[199].

Financial Performance - For the six months ended December 31, 2019, the revenue was approximately RMB 20,187,000, representing an increase from RMB 10,884,000 in the same period of 2018[3]. - The gross profit for the same period was RMB 8,389,000, compared to RMB 5,164,000 in the previous year, indicating a significant improvement[8]. - The company reported a loss attributable to owners of the company of RMB 2,044,000, an improvement from a loss of RMB 5,371,000 in the prior year[9]. - The basic and diluted loss per share for the period was RMB 0.07, compared to RMB 0.19 in the same period of 2018[9]. - The company reported a net loss of RMB 5,371,000 for the six months ended December 31, 2019, compared to a loss of RMB 3,563,000 for the same period in 2018, indicating an increase in losses of approximately 50.7%[12]. - The total income tax expense for the period was RMB (3,718,000), compared to RMB (1,708,000) in the previous year, reflecting a significant increase[38]. - The loss attributable to ordinary shareholders for the period was approximately RMB 2,044,000, a decrease from RMB 5,371,000 in the previous year, with basic loss per share of RMB 0.07 compared to RMB 0.19[61]. Assets and Liabilities - Total equity decreased to RMB 183,042,000 from RMB 183,845,000 as of June 30, 2019[11]. - The total current assets amounted to RMB 180,488,000, an increase from RMB 175,412,000 as of June 30, 2019[11]. - The company’s non-current assets totaled RMB 96,298,000, an increase from RMB 93,956,000 as of June 30, 2019[10]. - The company’s total liabilities as of December 31, 2019, were RMB 856,010,000, reflecting a significant financial obligation that needs to be managed[12]. - The total liabilities for the property development and management segment as of December 31, 2019, were RMB 52,369,000, down from RMB 54,641,000 as of June 30, 2019[31]. - Trade receivables decreased from RMB 10,434,000 as of June 30, 2019, to RMB 4,619,000 as of December 31, 2019[43]. - Trade payables decreased from RMB 25,556,000 as of June 30, 2019, to RMB 15,554,000 as of December 31, 2019[46]. Cash Flow - The company generated a net cash inflow from investing activities of RMB 18,851,000 for the six months ended December 31, 2019, compared to a net cash outflow of RMB 8,194,000 in the same period of 2018[14]. - The company’s operating cash flow net outflow was RMB 4,366,000 for the six months ended December 31, 2019, compared to an outflow of RMB 3,563,000 in the prior year, indicating a worsening cash flow situation[14]. - Cash and cash equivalents increased to RMB 75,593,000 as of December 31, 2019, from RMB 61,540,000 at the beginning of the period, representing a growth of approximately 22.8%[14]. Segment Performance - The property development and management segment generated revenue of RMB 20,187,000, an increase from RMB 10,884,000 in the previous period, representing an 85.5% growth[27]. - The adjusted profit before tax for the property management segment was RMB 7,359,000, compared to a loss of RMB 2,657,000 in the previous period, indicating a significant turnaround[27]. - Revenue from property sales was RMB 12,724,000, up from RMB 8,537,000 in the previous period, reflecting a 48.5% increase[33]. - The gold mining segment recorded a loss of approximately RMB 1,461,000 for the period, an improvement from a loss of RMB 2,657,000 in the same period last year[65]. - The property development, leasing, and management services segment reported a profit of approximately RMB 7,359,000, compared to RMB 3,960,000 in the previous year[68]. Future Outlook and Strategy - The company plans to continue its focus on expanding its market presence and enhancing its product offerings, although specific new products or technologies were not detailed in the report[12]. - The group plans to resume mining operations in 2020, pending approval of a revised mining plan submitted to local authorities[64]. - The company expects to record an unaudited gain of approximately RMB 4,800,000 from the sale of a 35% stake in a subsidiary, with the sale price set at RMB 53,000,000[80]. - The company plans to continue implementing its diversification strategy and actively seek potential investment opportunities in the future[75]. Shareholder Information - The major shareholder, Mr. Shi Mingyi, holds 384,198,376 shares, representing 13.32% of the issued shares[99]. - As of December 31, 2019, there were 96,304,000 unexercised options under the 2010 Share Option Scheme[97]. - The company has issued 3,000,000 non-redeemable convertible preference shares, convertible into ordinary shares at HKD 0.30 each[93]. - The board did not declare any interim dividend for the six months ended December 31, 2019[92]. Compliance and Governance - The audit committee, consisting of three independent non-executive directors, reviewed the interim results for the six months ended December 31, 2019[113]. - There were no significant events affecting the group after the reporting period, aside from those disclosed in the "Business Outlook" section[114].

Financial Performance - The company's revenue for the year increased to approximately RMB 43.2 million, representing a 104% increase compared to RMB 21.2 million in the previous year[17]. - Gross profit for the year was approximately RMB 14.6 million, up from RMB 1.7 million in the previous year[17]. - The pre-tax loss decreased to approximately RMB 3.9 million, down from RMB 19.2 million in the previous year[17]. - Loss attributable to equity holders of the company was approximately RMB 8.5 million, compared to RMB 19.8 million in the previous year[17]. - Basic loss per share for the year was RMB 0.29, improved from RMB 0.69 in the previous year[17]. - The gold mining segment recorded a loss of approximately RMB 2,501,000 for the year, compared to a loss of RMB 3,058,000 in 2018[22]. - The property development, leasing, and management segment generated revenue of approximately RMB 11,761,000 for the year, compared to a loss of RMB 6,732,000 in 2018[27]. - The company reported a loss attributable to shareholders of approximately RMB 8,493,000, resulting in a basic and diluted loss per share of RMB 0.29[149]. Acquisitions and Business Expansion - The company completed the acquisition of a property management business in Xuzhou, Jiangsu Province, which is expected to generate significant revenue[11]. - The company has acquired 700 parking spaces in Xuzhou, contributing to substantial income[11]. - The company completed the acquisition of property management services in Xuzhou, contributing approximately RMB 6,632,000 in property management service revenue for the year[26]. - The company sold 101 parking spaces, generating revenue of approximately RMB 7,525,000 for the year[26]. - The company anticipates that property management services and the sale of parking spaces in Xuzhou will continue to generate significant revenue and positive cash flow in the coming year[31]. - The company plans to expand its real estate business to include property management services and related value-added services[11]. - The company is actively seeking suitable locations for future property development projects[30]. Governance and Board Structure - The company has a board consisting of 2 executive directors and 3 independent non-executive directors as of June 30, 2019[72]. - The board held a total of 7 meetings during the year, with all directors attending at least 2 meetings[76]. - The company is committed to achieving statutory and regulatory corporate governance standards, emphasizing accountability, transparency, independence, fairness, and responsibility[68]. - The company has adopted the standard code of conduct for securities trading by directors as per the listing rules[70]. - The company plans to seek suitable candidates to fulfill the role of CEO to comply with corporate governance code A.2.1 in the future[69]. - The board is responsible for overseeing the company's business and affairs to enhance shareholder value[75]. - The board consists of three independent non-executive directors, exceeding one-third of the total board members, with one possessing appropriate accounting qualifications[85]. - The company has established a remuneration committee responsible for proposing remuneration policies for directors and senior management, consisting of three members[90]. - The audit committee, composed entirely of independent non-executive directors, also held two meetings to review the annual financial statements[91]. - The company has a training program for directors to ensure they remain informed about the latest regulations and governance practices[81]. - The company has confirmed that all directors participated in ongoing professional training during the year[83]. - The company has a nomination policy to ensure diversity and effectiveness in the board selection process[93]. - The company’s independent non-executive directors have confirmed their independence as per the listing rules[85]. - The company’s governance practices are aligned with the corporate governance code, ensuring compliance and best practices[84]. Financial Position and Assets - As of June 30, 2019, the company's cash and cash equivalents amounted to approximately RMB 61,540,000, an increase from RMB 52,666,000 in 2018[36]. - The net current assets and total assets less current liabilities were approximately RMB 96,996,000 and RMB 190,952,000, respectively, compared to RMB 62,651,000 and RMB 197,457,000 in 2018[36]. - The total equity attributable to owners decreased by approximately RMB 6,653,000 to about RMB 142,601,000 as of June 30, 2019, down from RMB 149,254,000 in 2018[37]. - The company had no interest-bearing borrowings as of June 30, 2019, consistent with the previous year[37]. - As of June 30, 2019, the company had no reserves available for cash distribution, with a share premium balance of RMB 676,605,000 that could be distributed in the form of bonus shares[140]. Risk Management and Compliance - The company closely monitors government policies and regulations to assess their impact on business operations[127]. - The internal audit department is responsible for ensuring the effectiveness of governance, risk management, and internal control systems[115]. - The board has reviewed the internal control report to assess the effectiveness of the company's risk management and internal control systems[115]. - The company has established guidelines and procedures for approving and controlling expenditures, ensuring that operational and capital expenditures are monitored[114]. - The board is responsible for assessing and determining the nature and extent of risks the company is willing to undertake to achieve strategic goals[111]. Employee and Director Compensation - The total employee cost, including directors' remuneration, was approximately RMB 9,303,000 for the year, compared to RMB 8,290,000 in 2018[50]. - The company has a stock option plan that allows for the issuance of up to 40,262,500 shares, representing 10% of the issued shares as of the adoption date[154]. - The company aims to encourage and reward eligible participants who contribute to its success through the 2010 Share Option Scheme[163]. - The maximum number of shares that can be granted to any individual in a twelve-month period is capped at 1% of the company's issued shares[167]. Shareholder Relations and Dividends - The company does not recommend the payment of a final dividend for the year ending June 30, 2019, consistent with the previous year[57]. - The board of directors did not recommend the payment of a final dividend for the year[135]. - The company has adopted a dividend policy prioritizing cash distributions to shareholders, with decisions based on financial performance and other relevant factors[107]. - The company emphasizes the importance of effective communication with investors to build confidence and attract new investments[110]. Miscellaneous - The company has faced challenges in renewing mining licenses due to tightened environmental regulations, impacting its gold mining operations[21]. - There have been no significant events affecting the company since the end of the fiscal year[125]. - The company has not made any charitable donations during the fiscal year, consistent with the previous year[144]. - The company or any of its subsidiaries did not purchase, sell, or redeem any of its listed securities during the year[200].

Financial Performance - Revenue for the six months ended December 31, 2018, was approximately RMB 10,884,000, an increase from RMB 9,199,000 in the same period of 2017[2] - The pre-tax loss for the six months ended December 31, 2018, was approximately RMB 4,464,000, compared to a loss of RMB 6,864,000 in the prior year[7] - The loss attributable to owners of the company for the six months ended December 31, 2018, was approximately RMB 5,371,000, compared to RMB 6,419,000 in the same period of 2017[8] - Basic and diluted loss per share for the six months ended December 31, 2018, was RMB 0.19, compared to RMB 0.20 in the previous year[8] - Gross profit for the six months ended December 31, 2018, was RMB 5,164,000, compared to RMB 2,679,000 in the same period of 2017[7] - The total comprehensive loss for the six months ended December 31, 2018, was RMB 9,972,000, compared to RMB 8,704,000 in the same period of 2017[8] - The company reported a loss of RMB 5,371,000 during the six months ended December 31, 2018, compared to a loss of RMB 6,419,000 for the same period in 2017, showing an improvement of about 16%[12] - The group's adjusted loss before tax for the six months ended December 31, 2018, was RMB 4,464,000, compared to a loss of RMB 6,864,000 for the same period in 2017, indicating an improvement of approximately 34.9%[29] Assets and Equity - Total equity of the group decreased to RMB 180,292,000 as of December 31, 2018, down from RMB 190,264,000[11] - Current assets as of December 31, 2018, totaled RMB 90,524,000, down from RMB 99,175,000 as of June 30, 2018[9] - The net asset value as of December 31, 2018, was RMB 187,551,000, compared to RMB 197,457,000 as of June 30, 2018[11] - As of December 31, 2018, the total equity amounted to RMB 180,292,000, a decrease from RMB 209,667,000 as of December 31, 2017, reflecting a decline of approximately 14%[12] - The group’s total assets as of December 31, 2018, amounted to RMB 217,428,000, a decrease from RMB 225,261,000 as of June 30, 2018[33] - The company's total equity attributable to owners decreased by RMB 8,082,000 to RMB 141,172,000 as of December 31, 2018[78] Cash Flow - The net cash flow from operating activities for the six months ended December 31, 2018, was a negative RMB 3,563,000, compared to a negative RMB 980,000 for the same period in 2017[14] - The net cash flow used in investing activities was RMB 8,194,000 for the six months ended December 31, 2018, compared to a positive cash flow of RMB 26,000 in the previous year[14] - The cash and cash equivalents decreased to RMB 41,613,000 as of December 31, 2018, down from RMB 42,050,000 at the end of 2017, indicating a reduction of approximately 1%[14] - As of December 31, 2018, the company's cash and cash equivalents were approximately RMB 41,613,000, down from RMB 52,666,000 as of June 30, 2018[78] Segment Performance - The property development and management segment generated revenue of RMB 10,884,000, while the gold mining segment reported a loss of RMB 2,657,000 for the same period[29] - During the period, the property development, leasing, and management services segment recorded a profit of approximately RMB 3,960,000, compared to RMB 820,000 in the same period of 2017[73] - The gold mining segment recorded a loss of approximately RMB 2,657,000, improved from a loss of RMB 3,669,000 in the same period last year[66] Acquisitions and Investments - The company completed the acquisition of assets and liabilities of a property management service company for a cash consideration of RMB 9,000,000 (approximately HKD 10,800,000) on November 1, 2018[52] - The cash outflow from the acquisition, after accounting for cash acquired, was RMB 8,164,000[53] - The company completed the acquisition of the property management business in Xuzhou for a cash consideration of RMB 9,000,000 (approximately HKD 10,800,000) on November 1, 2018[74] Governance and Compliance - The company’s financial statements were prepared in accordance with the Hong Kong Financial Reporting Standards, indicating compliance with local regulations[16] - The group adopted HKFRS 9, which fundamentally changed the accounting treatment for impairment losses on financial assets, but it did not have a significant impact on the group's impairment provisions[24] - The group has changed its accounting policy for revenue recognition in accordance with HKFRS 15, which establishes a five-step model for recognizing revenue from customer contracts[25] - 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[108] - The company acknowledges the deviation from the corporate governance code A.2.1, but believes that the current structure enhances operational efficiency[109] Shareholder Information - Major shareholder Mr. Shi Mingyi holds 384,198,376 shares, representing approximately 13.32% of the company’s issued shares[98] - The company has issued a total of 245,179,840 share options, with 243,099,840 options remaining unexercised as of December 31, 2018[96] - The company has no other shareholders holding 5% or more of the issued shares apart from those disclosed[105] - The company’s major shareholder, Chaolian Group Limited, holds 384,198,376 shares, which is 13.32% of the total issued shares[102] Employment and Staff - The company employed 77 staff as of December 31, 2018, compared to 38 in 2017, with total employment costs of approximately RMB 3,277,000[82] Other Information - No interim dividend was declared for the six months ended December 31, 2018, and June 30, 2017[43] - There were no significant events affecting the group after the reporting period[116] - The company confirmed that all directors complied with the standard code regarding securities transactions during the period[110] - There are no significant interests held by directors in competing businesses[111]