Financial Performance - Total revenue for the six months ended June 30, 2024, was HKD 349,608,000, a decrease of 10.9% compared to HKD 392,469,000 for the same period in 2023[3] - The gross profit for the period was HKD 135,898,000, down 12.4% from HKD 155,081,000 in the previous year[3] - The company reported a loss before tax of HKD 611,694,000, compared to a profit of HKD 126,918,000 in the same period last year[3] - The net loss attributable to the owners of the company was HKD 515,424,000, compared to a profit of HKD 48,561,000 in the prior year[3] - Basic loss per share was HKD (35.776), a significant decline from earnings of HKD 3.371 per share in the previous year[3] - The total comprehensive loss for the period was HKD 720,341,000, compared to a total comprehensive income of HKD 219,531,000 in the previous year[4] - The company reported a significant increase in other comprehensive expenses, primarily due to foreign exchange differences amounting to HKD (171,263,000)[4] Assets and Liabilities - Total assets as of June 30, 2024, were HKD 10,259,650,000, down from HKD 18,415,192,000 as of December 31, 2023[6] - Non-current assets decreased to HKD 10,090,810,000 from HKD 10,710,856,000 at the end of 2023[5] - The company's equity attributable to owners decreased to HKD 2,925,211,000 from HKD 3,592,939,000[6] - Total liabilities included various financial obligations, impacting overall financial performance[15] - Total assets as of June 30, 2024, amounted to HKD 15,017,448 thousand, while total liabilities were HKD 15,382,866 thousand[18] Revenue Streams - The group confirmed revenue from the sale of automotive parts at the point of transfer of control to customers, with total revenue from various sources including sales of goods and services[11] - Total revenue for the six months ended June 30, 2024, was reported at 290,794,000, with significant contributions from rental income and interest income[12] - Revenue from financial services, including asset management and corporate finance advisory, is recognized over time as benefits are consumed by customers[11] - Revenue from securities brokerage commissions is recognized at the point of executing customer orders, contributing to overall revenue growth[11] - Revenue from rental income is recognized on a straight-line basis over the lease term, ensuring consistent income recognition[11] - The revenue from the property investment and development segment was HKD 22,182 million, while the financial services segment generated HKD 87,256 million[16] - The automotive parts segment reported revenue of HKD 136,695 million, and the commercial printing segment contributed HKD 24,115 million[16] Financial Reporting Standards - The application of new Hong Kong Financial Reporting Standards is expected to have no significant impact on the group's financial position and performance for the current and prior periods[10] - The group anticipates that all announced new financial reporting standards will be adopted in the first period after their effective date, with no major impact expected on interim financial statements[10] - The implementation of new accounting standards is projected to begin in 2025 and beyond, with the board expecting minimal disruption to financial reporting[10] - The group has not early adopted any new financial reporting standards that have been issued but are not yet effective, indicating a cautious approach to regulatory changes[10] Operational Challenges - The group faced a challenging economic environment with no signs of recovery in the first half of 2024, influenced by high interest rates and geopolitical instability[77] - The automotive parts segment reported significant losses due to stricter credit controls and reduced operational scale, with a cautious approach to cost management expected moving forward[81] - The commercial printing segment experienced decreased demand due to a slowdown in the Hong Kong financial market, leading to increased net losses, and was sold for a nominal price of HKD 1[81] - The department store segment faced challenges from weak consumer spending and increased online shopping, prompting the company to actively reduce operating costs and reassess store profitability[82] Future Outlook - Future outlook includes potential growth in the automotive and financial services sectors, with ongoing investments in technology and market expansion[14] - The company anticipates a gradual recovery in the Hong Kong financial market, expecting stable business growth in the financial services segment as new investment products are developed[84] - The company is exploring investment opportunities in the Caribbean and Latin America, seeking strong business partners for new projects under local citizenship investment programs[89] Legal Matters - The company is involved in legal proceedings regarding a conditional cash offer to acquire all issued shares of another company, with a claim amounting to approximately HKD 260,443,000[47] - The company has sought a specific performance order from the High Court to compel the other party to pay the net proceeds from the share offer, totaling about HKD 260,435,000[49] - A temporary injunction has been granted to prevent the other party from disposing of assets in Hong Kong pending the outcome of the legal proceedings[49] Employee and Corporate Governance - The company employed a total of 433 staff as of June 30, 2024, distributed across Hong Kong (280), Mainland China (102), Japan (35), and Grenada (16)[95] - The remuneration committee has reviewed and determined the company's compensation policies, including those for executive directors and senior management[95] - The audit committee, consisting of three independent non-executive directors, reviewed the accounting principles and practices adopted by the group[97] Dividends and Shareholder Matters - The company did not declare or propose any dividends for the six months ended June 30, 2024[26] - The board did not recommend an interim dividend for the six months ending June 30, 2024, consistent with the previous period[93] - No purchases, sales, or redemptions of the company's issued shares occurred during the six months ending June 30, 2024[96]

Financial Performance - The total revenue for the fiscal year ending December 31, 2023, was HKD 801.5 million, a decrease of 33.1% compared to HKD 1,198.8 million for the fiscal year 2022[6]. - Net profit for the fiscal year 2023 was HKD 41.3 million, a significant decrease of 93.1% from HKD 602.6 million in fiscal year 2022[6]. - Basic earnings per share for the fiscal year 2023 were HKD 0.0532, down from HKD 0.0783 in fiscal year 2022[6]. - The company did not recommend any interim or final dividends for the fiscal year 2023, maintaining a total dividend of zero, consistent with fiscal year 2022[7]. - The net profit for fiscal year 2023 was HKD 41.3 million, a decrease of HKD 561.3 million from HKD 602.6 million in fiscal year 2022, influenced by reduced foreign exchange gains and increased financial expenses[29]. - Other income slightly decreased to HKD 32 million in fiscal year 2023 from HKD 33.4 million in fiscal year 2022, primarily due to a reduction in government subsidies[20]. - The net other income for the fiscal year 2023 was HKD 58.2 million, a significant decrease from HKD 341.9 million in fiscal year 2022, primarily due to a drop in foreign exchange gains from HKD 358.1 million to HKD 59.4 million[21]. Revenue Breakdown - The revenue from the environmental category decreased by HKD 347.2 million, while the automotive parts category saw a reduction of HKD 97.9 million[19]. - The financial services category increased by HKD 16.7 million, and the Latin America and Caribbean category saw a significant increase of HKD 28.9 million, up 489.8%[18]. - The property segment generated revenue of HKD 19.3 million, accounting for 2.4% of total revenue, an increase of 33.1% from the previous year[18]. - The financial services segment contributed HKD 142.5 million, representing 17.8% of total revenue, an increase of 13.3% year-over-year[18]. - The environmental segment accounted for HKD 357.8 million, which was 44.6% of total revenue, reflecting a significant decline of 49.2%[18]. - The automotive parts segment reported a revenue decline to HKD 43,100,000 in fiscal year 2023 from HKD 141,000,000 in fiscal year 2022, resulting in a loss of HKD 10,300,000 compared to a profit of HKD 5,700,000 in the previous year[33]. - The commercial printing segment revenue fell to HKD 54,700,000 in fiscal year 2023 from HKD 59,100,000 in fiscal year 2022, with losses increasing to HKD 4,100,000 from HKD 3,200,000[34]. - Department store segment recorded revenue of HKD 145,600,000 in fiscal year 2023, down slightly from HKD 146,300,000 in fiscal year 2022, with losses increasing to HKD 91,100,000 due to goodwill impairment[35]. - The Latin America and Caribbean segment generated revenue of HKD 34,800,000 in fiscal year 2023, a significant increase from HKD 5,900,000 in fiscal year 2022, but reported a loss of HKD 8,800,000 compared to a profit of HKD 1,799,800,000 in the previous year[36]. Investment and Expansion Plans - The company plans to expand its investment opportunities in the Caribbean and Latin America, targeting four additional Caribbean countries for development projects[8]. - The Grenada project includes educational facilities, student apartments, hotels, and commercial developments, with plans for further investments in clean energy, education, tourism, and retail sectors[8]. - The company is seeking partnerships with strong investors to co-invest in projects in designated Caribbean countries and Panama[8]. - The company is exploring new potential investment opportunities in various sectors, including banking, insurance, desalination, and infrastructure engineering[8]. - The company aims to leverage its experience from the Grenada project to explore more investment opportunities in the Caribbean Economic Area and Latin America, focusing on clean energy, education, tourism, and retail sectors[66]. - The company has identified four investment areas to contribute to local economic development, including clean energy, education, tourism, and retail, which are expected to create job opportunities and enhance local living standards[66]. Operational Performance - The company holds a 51% stake in the Laiying Garden urban renewal project in Nanshan, Shenzhen, and a 100% stake in the Qinkeng property project in Longhua, Shenzhen[10][11]. - The property segment recorded a profit of HKD 782,500,000 in fiscal year 2023, a significant turnaround from a loss of HKD 1,379,500,000 in fiscal year 2022, primarily due to a net gain of HKD 1,097,800,000 from fair value changes of investment properties[30]. - Financial services segment revenue rose to HKD 142,500,000 in fiscal year 2023, up 13.3% from HKD 125,800,000 in fiscal year 2022, attributed to increased interest income from lending and guarantee financing[31]. - The financial services segment profit increased to HKD 75,700,000 in fiscal year 2023 from HKD 21,300,000 in fiscal year 2022, driven by revenue growth and reduced service costs[31]. - The company has five property projects, maintaining the same number as in 2022, with various stages of development ongoing[42]. Environmental and Sustainability Efforts - The company emphasizes the importance of environmental sustainability and has integrated it into its business operations[150]. - The total greenhouse gas emissions for the fiscal year 2023 amounted to 1,705.60 tons of CO2 equivalent, a decrease from 1,818.16 tons in fiscal year 2022[154]. - The greenhouse gas emissions density per employee for fiscal year 2023 was 3.68 tons of CO2 equivalent, down from 3.80 tons in fiscal year 2022[154]. - The company has set a target to maintain the greenhouse gas emissions density at the fiscal year 2023 level for the fiscal year ending December 31, 2024[153]. - The company has implemented various energy-saving measures to achieve its emissions reduction targets[153]. - The total amount of non-hazardous waste disposed of in 2023 was 22.70 tons, an increase from 19.87 tons in 2022, reflecting a rise of approximately 9.3%[160]. - The company has implemented various measures to reduce paper usage, including encouraging electronic communication and double-sided printing[170]. - The company promotes water conservation and has implemented water reuse practices at its Japan recycling facility[165]. Corporate Governance - The company has established a corporate governance report detailing its governance practices[101]. - The company has adhered to the corporate governance code and maintained high standards of corporate governance throughout the fiscal year[109]. - The board of directors confirmed compliance with the standards of the code for securities trading by directors during the fiscal year[111]. - The company has established a risk management and internal control system, which was reviewed by the Audit Committee, confirming no significant deficiencies were found during the internal control review conducted in 2023[130]. - The company maintains a sufficient public float of at least 25% of its total issued shares throughout the review year[107]. - The company has established a shareholder communication policy to enhance relationships with shareholders, including annual general meetings and timely announcements of interim and annual results[138]. Employee and Workplace Policies - The group employed a total of 463 employees as of December 31, 2023, with 302 in Hong Kong, 112 in Mainland China, 33 in Japan, and 16 in Grenada[77]. - Employee compensation policies are reviewed regularly based on market benchmarks, financial performance, and individual performance, with bonuses distributed accordingly[74]. - The employee gender ratio is 48.4% male and 51.6% female among 463 employees, indicating a diverse workforce[121]. - The group has implemented employee welfare programs, including mandatory provident fund plans, stock option plans, and medical insurance[77]. - The group focuses on creating a safe and beneficial work environment for employees, adhering to occupational health and safety regulations[77]. - The group has established a feedback channel for employees to express concerns confidentially, promoting a supportive work environment[190]. Risk Management - The company has established a credit assessment committee responsible for formulating credit policies and monitoring credit risk in lending operations[52]. - The credit risk management includes daily monitoring of market conditions and collateral adequacy for margin accounts[49]. - The margin monitoring team reports daily on margin status and takes immediate action in case of collateral shortfalls[47]. Community Engagement and Social Responsibility - The group made donations of approximately HKD 124,000 in the fiscal year ending December 31, 2023, compared to HKD 112,000 in 2022[108]. - The company supports key internal talents by providing clear career paths and funding for external training courses to enhance their professional qualifications[194]. - The company strictly prohibits child labor and forced labor, ensuring compliance with relevant laws and regulations during the hiring process[195].

Financial Performance - Total revenue for the fiscal year ended December 31, 2023, was HKD 801,485,000, a decrease of 33.1% from HKD 1,198,810,000 in the previous year[2] - Net profit for the year was HKD 41,250,000, a significant decline of 93.2% compared to HKD 602,628,000 in the previous year[3] - Basic earnings per share decreased to HKD 5.32 from HKD 7.83, reflecting a decline of 32.0%[2] - The total comprehensive income for the year was HKD (708,799) thousand, reflecting a slight adjustment due to actuarial gains and losses[14] - The group’s annual profit for 2023 was HKD 31,950, a decrease from HKD 33,379 in 2022[28] - The company reported a basic and diluted earnings per share of 76,689 thousand HKD for 2023, down from 112,787 thousand HKD in 2022, indicating a decrease of approximately 32%[38] Revenue Breakdown - Revenue from automotive parts amounted to 357,814 thousand yuan, while department store goods generated 106,666 thousand yuan[20] - The property investment and development segment generated revenue of HKD 19,254,000, while the financial services segment reported HKD 142,544,000[23] - The environmental segment reported a loss of HKD 29,852,000, indicating challenges in this area[24] - The automotive parts segment achieved revenue of HKD 43,054,000, reflecting stable performance[23] - The department store segment reported revenue of HKD 145,593,000, showcasing strong consumer demand[23] - The financial services segment revenue rose to HKD 142,500,000 in FY2023, up 13.3% from HKD 125,800,000 in FY2022, attributed to increased interest income from lending and guarantee financing[79] Asset and Liability Management - Non-current assets totaled HKD 10,710,856,000, up from HKD 9,908,685,000 year-on-year[4] - Current liabilities increased to HKD 2,065,737,000 from HKD 6,799,260,000, indicating a significant reduction in short-term obligations[5] - The company reported a net asset value of HKD 18,415,192,000, an increase from HKD 13,070,417,000 year-on-year[5] - Total liabilities as of December 31, 2023, were HKD 15,382,866, compared to HKD 14,706,459 in 2022[26] - The company's bank borrowings rose significantly to HKD 9,104,950,000 in 2023 from HKD 4,543,885,000 in 2022, representing an increase of about 100%[6] Operational Strategies - The company plans to focus on expanding its investment properties and enhancing operational efficiency in the upcoming fiscal year[1] - The company has implemented measures to enhance cost control on property projects and explore feasible financial arrangements to improve liquidity[8] - The company plans to expand its market presence and enhance product offerings in the coming fiscal year[21] - New product developments and technological advancements are expected to drive future revenue growth and market expansion[21] Legal and Compliance Matters - The group has initiated legal proceedings against Win Dynamic regarding the alleged cancellation of a contract, seeking specific performance and payment of the aforementioned amount[60] - The group has maintained that the contract in question is enforceable and has not been legally revoked[62] - The company has adopted the standard code of conduct for securities trading by directors, confirming compliance for the fiscal year ending December 31, 2023[124] Market and Economic Conditions - The environmental classification remains a major revenue source, with a leased land area of approximately 19,609 square meters in Osaka, Japan[106] - The automotive parts segment experienced a sharp decline in revenue due to slow recovery in the mainland China market and ongoing customer payment delays[107] - The financial services segment anticipates stable business growth in 2024, driven by the recovery of the Hong Kong financial market and the development of various investment products[111] Future Outlook - The company aims to expand investment opportunities in the Caribbean and Latin America, targeting four additional Caribbean countries: Antigua and Barbuda, Saint Lucia, Saint Kitts and Nevis, and Dominica[115] - The company has identified four investment areas: clean energy, education, tourism, and retail, to contribute to economic development in the targeted Caribbean countries[116]

Financial Performance - Total revenue for the six months ended June 30, 2023, was HKD 392,469,000, a decrease of 32.7% from HKD 583,297,000 in the same period of 2022[6]. - Gross profit for the same period was HKD 155,081,000, compared to HKD 137,783,000 in 2022, reflecting an increase of 12.5%[6]. - The net profit for the period was HKD 26,035,000, down 87.3% from HKD 204,089,000 in the previous year[6]. - Basic earnings per share for the six months ended June 30, 2023, was HKD 3.371, compared to HKD 3.561 in 2022, a decrease of 5.3%[7]. - The company’s total comprehensive income for the period was HKD 116,724, a decrease from HKD 204,089 in the same period of 2022[12]. - The group’s net profit decreased from HKD 204.1 million in the first half of 2022 to HKD 26 million in the first half of 2023, a decline of HKD 178.1 million[105]. Revenue Breakdown - Environmental segment generated revenue of HKD 356,087,000, accounting for approximately 61% of total revenue[23]. - Financial services segment contributed HKD 63,142,000, representing about 10.8% of total revenue[23]. - The automotive parts segment reported revenue of HKD 54,156,000, which is around 9.3% of total revenue[23]. - The printing services segment generated revenue of HKD 31,784,000, contributing approximately 5.4% to total revenue[23]. - The department store segment earned HKD 69,091,000, making up about 11.8% of total revenue[23]. - Revenue from the environmental segment decreased by HKD 185.5 million, primarily due to reduced demand for copper materials[97]. - Revenue from the automotive parts segment decreased by HKD 37.5 million, a decline of 69.2%[96]. - Financial services segment revenue increased by HKD 25.1 million, a growth of 39.8%[96]. Assets and Liabilities - Total assets as of June 30, 2023, amounted to HKD 14,270,890,000, an increase from HKD 13,070,617,000 as of December 31, 2022[9]. - The total liabilities as of June 30, 2023, were HKD 5,424,916,000, down from HKD 6,799,060,000 at the end of 2022[9]. - The company’s total assets as of June 30, 2023, were HKD 659,934,000, a decrease from HKD 705,083,000 as of December 31, 2022[46]. - Total liabilities as of June 30, 2023, were HKD 14,750,282,000, compared to HKD 14,704,622,000 at the end of 2022, showing a slight increase[33]. Cash Flow and Financing Activities - The net cash generated from operating activities for the six months ended June 30, 2023, was HKD 7,253, a significant improvement from a net cash outflow of HKD 446,146 in the same period of 2022[13]. - The company reported a net cash outflow from financing activities of HKD 134,963 for the six months ended June 30, 2023, compared to a net cash inflow of HKD 495,696 in the same period of 2022[13]. - The company’s cash and cash equivalents decreased to HKD 108,699,000 from HKD 171,900,000, a decline of 36.8%[9]. - The total cash and cash equivalents at the end of June 30, 2023, were HKD 108,699, down from HKD 274,329 at the end of June 30, 2022, reflecting a decrease of approximately 60.4%[13]. Investments and Acquisitions - The company completed the acquisition of Hartmann Education Group for a total cash consideration of HKD 1,876,000, aimed at enhancing marketing resources under the CBI program in Latin America and the Caribbean[73]. - The identifiable net assets acquired from Hartmann Education Group were valued at HKD 1,876,000, resulting in no goodwill generated from the acquisition[75]. - The company is exploring potential acquisitions to enhance its market presence and diversify its service offerings[25]. Legal Matters - The total claims against the company by a former director amount to approximately HKD 12,442,000, with counterclaims of about HKD 71,600,000 being pursued[87]. - The company is involved in a legal dispute regarding a contract cancellation, with a claim for approximately HKD 260,443,000 related to shares of a subsidiary[88]. - The court issued a temporary injunction preventing Win Dynamic from disposing of assets in Hong Kong valued at the amount claimed[90]. Corporate Governance - The Audit Committee, consisting of three independent non-executive directors, has reviewed the accounting principles and practices adopted by the group[144]. - The company has adhered to the corporate governance code as per the listing rules during the six months ending June 30, 2023[141]. - The company has established a remuneration committee to review and determine the remuneration policies for executive directors and senior management[142]. Shareholder Information - As of June 30, 2023, the major shareholder, Meilin Holdings, holds 903,160,000 shares, representing 62.69% of the issued share capital[134]. - Dr. Lin Xiaohui owns 70% of Meilin Holdings, which in turn holds the aforementioned shares[134]. - The total equity held by Dr. Lin Xiaohui and related parties amounts to 945,750,000 shares, which is 65.64% of the issued share capital[130].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公佈全部或任何 部份內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 （於百慕達註冊成立之有限公司） （股份代號：1196） 二零二三年中期業績公佈 偉祿集團控股有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然呈列本公司 及其附屬公司（「本集團」）截至二零二三年六月三十日止六個月之未經審核中期業 績如下： | --- | --- | --- | --- | |------------------------------------------------------------------------------------------------------------------------------------|----------------|------------------------------------------------------------------------------------|---------------------- ...

Financial Performance - For the fiscal year ending December 31, 2022, the total revenue recorded by the company was approximately HKD 1,198,800,000, an increase of about 0.3% compared to HKD 1,195,100,000 for the fiscal year ending December 31, 2021[23]. - The gross profit grew by approximately 5.4% to about HKD 287,400,000, up from HKD 272,800,000 in the previous fiscal year[23]. - The net profit for the fiscal year 2022 was approximately HKD 605,100,000, a significant increase of about 421.9% compared to HKD 115,900,000 in the fiscal year 2021[23]. - The basic earnings per share for the fiscal year 2022 were HKD 0.0798, down from HKD 0.0849 in the previous fiscal year[23]. - The net profit included a fair value gain (after deferred tax impact) of approximately HKD 1,203,600,000, compared to HKD 955,500,000 in the previous fiscal year[23]. - The company reported a net exchange gain of approximately HKD 358,100,000 for the fiscal year 2022, compared to a net exchange loss of HKD 139,000,000 in the previous fiscal year[23]. - The total revenue for the fiscal year ending December 31, 2022, was approximately HKD 1,198.8 million, a slight increase of 0.3% from HKD 1,195.1 million in the previous fiscal year[34]. - The net profit for the fiscal year 2022 was approximately HKD 605.2 million, a significant increase of approximately HKD 489.3 million compared to HKD 115.9 million in the previous year[34]. - The group reported a net profit of approximately HKD 605.2 million for the fiscal year 2022, an increase of approximately HKD 489.3 million from approximately HKD 115.9 million in the fiscal year 2021[46]. Revenue Segments - Revenue from the environmental segment increased by HKD 32.2 million, reaching HKD 705.0 million, which accounted for 58.8% of total revenue[35]. - The property segment revenue increased by 46.5% to HKD 14.5 million, while the automotive parts segment saw a decrease of 34.8% to HKD 141.0 million[35]. - Environmental segment revenue increased from approximately HKD 672,800,000 in fiscal year 2021 to approximately HKD 705,000,000 in fiscal year 2022, representing a growth of 4.8%[50]. - Automotive parts segment revenue decreased by approximately 34.8% to about HKD 141,000,000 in fiscal year 2022, down from approximately HKD 216,200,000 in fiscal year 2021[51]. - Commercial printing segment revenue slightly increased by about 1.4% to approximately HKD 59,100,000 in fiscal year 2022, compared to HKD 58,300,000 in fiscal year 2021[52]. - Department store segment recorded revenue of approximately HKD 146,300,000 in fiscal year 2022, up from HKD 95,000,000 in fiscal year 2021, but incurred a loss of approximately HKD 33,600,000[53]. - Latin America and Caribbean segment generated revenue of HKD 5,900,000 from consulting services under the CBI plan, with a segment profit of approximately HKD 1,799,800,000 due to fair value changes of investment properties[54]. Investment Opportunities - The company plans to expand its investment opportunities in the Caribbean and Latin America, targeting four additional Caribbean countries for investment[25]. - The company is seeking professional investors to co-invest in projects in designated Caribbean countries and Panama[25]. - The company is exploring new potential investment opportunities in various sectors, including clean energy, education, tourism, and retail[25]. - The company holds a 51% interest in the Laiying Garden urban renewal project in Nanshan District, Shenzhen, which is a high-end residential and commercial development[27]. - The company holds a 70.5% interest in the Grenada project, which spans 450 acres (approximately 1,821,084 square meters) and includes various developments such as educational facilities and residential villas[32]. - The company has developed infrastructure for the Grenada project, including power, water, and road access, and has transitioned two plots of land from investment properties to development properties[32]. - The Grenada project represents a significant opportunity for the company to diversify its operations in the Caribbean and Latin America, leveraging foreign investment through the CBI program[78]. - The company has identified four investment sectors for collaboration with local governments: clean energy, education, tourism, and retail, to enhance economic development and job creation[84]. Financial Position - The total balance of receivables was approximately HKD 458.9 million as of December 31, 2022, compared to HKD 207 million as of December 31, 2021[41]. - The group’s interest-bearing borrowings amounted to approximately HKD 12,950,000,000 as of December 31, 2022, compared to HKD 11,608,900,000 as of December 31, 2021, resulting in a capital debt ratio of approximately 358.5%[55]. - The total net asset value of the group was approximately HKD 8,512,000,000 as of December 31, 2022, down from HKD 10,184,000,000 a year earlier[57]. - The total outstanding margin financing loans to clients amounted to HKD 457,200,000 as of December 31, 2022, an increase of 65.5% from HKD 276,200,000 as of December 31, 2021[62]. - The company’s guarantees for loans to subsidiaries amounted to approximately HKD 57,900,000 as of December 31, 2022, with certain investment properties serving as collateral[58]. Operational Challenges - Other income decreased from HKD 53.3 million in the previous year to HKD 33.4 million in the fiscal year 2022, primarily due to a reduction in bank interest income[37]. - The commercial printing segment recorded a loss for the fiscal year 2022 due to reduced demand amid the pandemic, necessitating further efforts to strengthen customer relationships[76]. - The department store segment was affected by the ongoing pandemic, with one store closure during the fiscal year, but anticipates a rebound in the local retail market as restrictions ease[77]. - The automotive parts segment faced adverse demand impacts due to lockdown policies in certain Chinese cities, but the company remains optimistic about future prospects as pandemic restrictions ease[75]. Corporate Governance - The board of directors includes independent non-executive directors, ensuring compliance with independence standards[111]. - The company has maintained a consistent governance structure with no service contracts for directors that cannot be terminated within one year[112]. - The board is committed to maintaining high standards of corporate governance to ensure satisfactory and sustainable returns for shareholders[131]. - The group has complied with all applicable corporate governance code provisions during the year ending December 31, 2022[132]. - The board's independent non-executive directors account for more than one-third of the board, ensuring independent opinions and judgments[142]. Environmental Sustainability - The company is committed to integrating environmental sustainability into its business operations and reducing its environmental impact[175]. - The company has implemented various energy-saving measures to achieve its greenhouse gas emissions targets for the fiscal year 2023[178]. - The company aims to maintain the greenhouse gas emissions density at the level of approximately 3.92 tons of CO2 equivalent per employee, consistent with the previous fiscal year[178]. - The company has installed gas collection and extraction devices at its plastic recycling facility in Japan to minimize emissions from waste processing[176]. - Total greenhouse gas emissions decreased to 1,818.16 tons CO2 equivalent in 2022 from 2,040.92 tons in 2021, representing a reduction of approximately 10.9%[179]. Employee and Workforce Management - The company employed a total of 478 employees as of December 31, 2022, with 295 in Hong Kong, 135 in China, 29 in Japan, and 19 in Grenada[98]. - Employee compensation policies are reviewed regularly based on market benchmarks, financial performance, and individual employee performance[95]. - The gender distribution of employees is 227 males and 251 females, indicating a female representation of approximately 52.5%[199]. - The company emphasizes the importance of talent acquisition, retention, and development to maintain market competitiveness[200]. Shareholder Information - The company reported no interim or final dividends for the fiscal year ending December 31, 2022[108]. - The top five customers accounted for 49.0% of the total revenue, with the largest customer contributing 21.7%[110]. - The top five suppliers represented 75.4% of total procurement, with the largest supplier accounting for 53.0%[110]. - The company has not engaged in any purchase, sale, or redemption of its listed securities during the fiscal year[109].

Financial Performance - Total revenue for the fiscal year 2022 reached HKD 1,198,810,000, a slight increase from HKD 1,195,079,000 in 2021[2] - The company reported a net profit of HKD 605,162,000 for 2022, significantly up from HKD 115,934,000 in the previous year[3] - Gross profit increased to HKD 287,398,000, compared to HKD 272,785,000 in 2021, reflecting a growth of approximately 5.4%[2] - The company’s basic earnings per share decreased to HKD 7.98 from HKD 8.49 in the previous year[2] - Total profit for the year 2022 was HKD 114,892,000, a decrease from HKD 122,197,000 in 2021, representing a decline of approximately 2.5%[29] - The net profit for the fiscal year 2022 was approximately HKD 605,200,000, an increase of about HKD 489,300,000 compared to HKD 115,900,000 in the previous fiscal year[55] Revenue Breakdown - Revenue from automotive parts sales amounted to 140,952 thousand, while revenue from commercial printing reached 59,122 thousand[12] - Revenue from financial printing and related services was confirmed using the output method over time, reflecting ongoing customer benefits[12] - The automotive parts segment generated revenue of 216,163 thousand, while the financial services segment contributed 142,643 thousand[14] - The department store segment recorded revenue of approximately HKD 146,300,000 in fiscal year 2022, up from HKD 95,000,000 in fiscal year 2021[74] - The financial services segment reported a loss of HKD 1,379,530,000, highlighting challenges in that area[16] Assets and Liabilities - Non-current assets totaled HKD 9,908,685,000, a decrease from HKD 11,911,136,000 in 2021[4] - Current assets included development properties valued at HKD 5,535,564,000, up from HKD 3,229,062,000 in 2021, indicating a growth of approximately 71.5%[4] - As of December 31, 2022, the total current liabilities amounted to HKD 6,799,060,000, a significant increase from HKD 1,082,627,000 in 2021[5] - The total equity attributable to the owners of the company was HKD 3,612,468,000, compared to HKD 4,133,072,000 in 2021, reflecting a decline[5] - Total liabilities were reported at HKD 13,482,106,000, reflecting the company's financial obligations[19] Cash Flow and Financing - The company’s cash and cash equivalents decreased to HKD 171,900,000 from HKD 229,645,000 in the previous year[4] - Bank borrowings surged to HKD 5,366,919,000 from HKD 511,206,000, indicating a substantial increase in leverage[5] - The company has sufficient operating funds to meet its financial obligations for at least the next twelve months[8] - The company’s total borrowings, including secured and unsecured loans, reached HKD 239,439,000 in 2022, compared to HKD 2,740,000 in 2021, indicating a substantial increase[32] Investments and Acquisitions - The company completed the acquisition of Hartmann Education Group for a total cash consideration of HKD 1,876,000, aiming to enhance marketing resources in the CBI program[36] - The identifiable net assets of Hartmann Education Group at fair value were assessed at HKD 1,876,000, equal to the purchase price, indicating no goodwill was generated from this acquisition[38] - The company has ongoing legal claims amounting to HKD 8,244,000 related to unpaid salaries from a former director[48] Market and Strategic Focus - The company is in the process of establishing a securities company in the Guangzhou Free Trade Zone, with the application currently under review by the China Securities Regulatory Commission[82] - The company is actively seeking investment opportunities in four additional Caribbean countries, namely Antigua and Barbuda, Saint Lucia, Saint Kitts and Nevis, and Dominica, as part of its strategy to diversify operations in Latin America and the Caribbean[103] - The company plans to invest in four key areas: clean energy, education, tourism, and retail, to contribute to economic development in the Caribbean and Panama[104] Corporate Governance and Compliance - The company adheres to good corporate governance practices and has complied with all relevant codes during the reporting period[108] - The audit committee has reviewed the consolidated financial statements for the year ended December 31, 2022, ensuring compliance with accounting principles and practices[113] - The annual report containing all information required by the listing rules will be sent to shareholders at an appropriate time[114]

Financial Performance - Total revenue for the six months ended June 30, 2022, was HKD 583,297,000, an increase of 31% compared to HKD 445,408,000 for the same period in 2021[7] - Gross profit for the same period was HKD 137,783,000, slightly up from HKD 132,439,000, reflecting a gross margin of approximately 23.6%[7] - Net profit for the six months ended June 30, 2022, was HKD 204,089,000, compared to HKD 53,115,000 in the previous year, representing a significant increase of 284%[9] - Basic earnings per share increased to HKD 3.561 from HKD 3.293, while diluted earnings per share rose to HKD 3.554 from HKD 3.285[8] - The company reported a total comprehensive loss of HKD 149,612,000 for the period, compared to a comprehensive income of HKD 143,796,000 in the prior year, primarily due to foreign exchange losses[9] Assets and Liabilities - Total assets as of June 30, 2022, amounted to HKD 13,111,429,000, compared to HKD 17,664,758,000 as of December 31, 2021[10] - The company’s non-current assets were valued at HKD 11,952,428,000, showing a slight increase from HKD 11,911,136,000[10] - As of June 30, 2022, the total equity attributable to owners of the company decreased to HKD 3,870,846 thousand from HKD 4,133,072 thousand in the previous year, representing a decline of approximately 6.36%[11] - The company's total non-current liabilities amounted to HKD 7,991,652 thousand, down from HKD 12,399,479 thousand year-on-year, indicating a reduction of about 35.00%[11] Cash Flow - The net cash used in operating activities for the six months ended June 30, 2022, was HKD (446,146) thousand, compared to HKD (160,726) thousand in the same period last year, reflecting a significant increase in cash outflow[15] - The net cash outflow from investing activities was HKD (1,380) thousand, a decrease from HKD (268,866) thousand in the previous year, showing a reduction in investment expenditures[15] - Financing activities generated a net cash inflow of HKD 495,696 thousand, contrasting with a net cash outflow of HKD (347,402) thousand in the prior year, indicating improved financing conditions[15] - The company's cash and cash equivalents at the end of the period stood at HKD 274,329 thousand, a decrease from HKD 503,301 thousand at the end of the previous year, reflecting a decline of approximately 45.60%[15] Revenue Segmentation - The group reported revenue from various sources, including automotive parts sales, which is recognized upon transfer of control to customers[21] - Revenue from financial printing and related services is recognized over time using the output method, as customers simultaneously receive and consume benefits[21] - The group’s revenue from securities brokerage commissions is recognized at the time of executing customer orders[21] - The group’s rental income is recognized on a straight-line basis over the lease term[21] - The group’s revenue from corporate financing advisory and asset management services is also recognized over time using the output method[21] Strategic Plans and Market Expansion - The company plans to expand its market presence and invest in new technologies to enhance operational efficiency and product offerings[5] - The management indicated a focus on strategic acquisitions to bolster growth and market share in the upcoming quarters[5] - The company aims to enhance its market presence through strategic acquisitions, including a 70.5% stake in the Caribbean Education Group[25] - The company is focusing on developing new technologies and products to improve service offerings in the printing and financial services sectors[25] Employee and Operational Metrics - The group employed a total of 513 staff members, distributed as follows: 327 in Hong Kong, 135 in China, 28 in Japan, 20 in Grenada, and 3 in Panama[138] - The group’s employee benefit expenses, including director remuneration, rose to HKD 91,969,000 in the first half of 2022, compared to HKD 72,566,000 in 2021, marking an increase of about 26.7%[41] Legal and Compliance Matters - The company is involved in ongoing litigation regarding a claim of approximately HKD 260,443,000 related to a conditional voluntary cash offer for shares[85] - The company’s legal advisors have indicated that the claim of cancellation of the agreement by Win Dynamic is not recognized as valid[86] - The company has indicated that the fair value of financial assets and liabilities recorded at amortized cost is similar to their carrying amounts[82] Market Challenges and Economic Conditions - The group faced significant uncertainties due to ongoing COVID-19 impacts and global economic conditions, with a slow recovery expected[106] - The company has not declared an interim dividend for the six months ending June 30, 2022, consistent with the previous year[122] Investment and Development Projects - The company has expanded its operations into Grenada, focusing on a mixed-use development project that includes international schools and residential facilities[25] - The Grenada project represents a valuable opportunity for the group to expand its overseas business scale through foreign investment[117] - The company aims to expand investment opportunities in the Caribbean and Latin America, targeting four additional Caribbean countries: Antigua and Barbuda, Saint Lucia, Saint Kitts and Nevis, and Dominica[118]

Financial Performance - The total revenue for the fiscal year ended December 31, 2021, was approximately HKD 1,195,100,000, an increase of about 37.5% compared to HKD 869,300,000 for the fiscal year ended December 31, 2020[17]. - Gross profit grew by approximately 35.7% to about HKD 272,800,000, compared to HKD 201,100,000 in the previous fiscal year[17]. - The net profit for the fiscal year was approximately HKD 115,900,000, a decrease of about 87.0% from HKD 892,300,000 in the previous year[17]. - The basic earnings per share for the fiscal year were HKD 0.0849, down from HKD 0.6155 in the previous fiscal year[17]. - Fair value gains included in the net profit attributable to shareholders were approximately HKD 955,500,000, down from HKD 1,905,300,000 in the previous fiscal year[17]. - The group recorded a net profit of approximately HKD 115.9 million for the fiscal year 2021, a decrease of about HKD 776.4 million compared to a net profit of approximately HKD 892.3 million in fiscal year 2020[38]. - The property segment reported a profit of approximately HKD 792.3 million, a decrease of about 61.4% from approximately HKD 2,463.4 million in fiscal year 2020[40]. - The financial services segment generated revenue of approximately HKD 142.6 million, an increase of about 73.7% from approximately HKD 82.1 million in fiscal year 2020[41]. - The environmental segment reported revenue of approximately HKD 672.8 million, an increase of about 23.7% from approximately HKD 544.1 million in fiscal year 2020, although segment profit decreased by about 27.7%[42]. - Revenue from the automotive parts segment increased by approximately 35.7% to about HKD 216.2 million in fiscal year 2021[43]. - The commercial printing segment experienced a revenue decline of approximately 19.8% to about HKD 58.3 million, resulting in a segment loss of approximately HKD 4.1 million[44]. - The department store segment generated revenue of approximately HKD 95 million, accounting for about 8.0% of the group's total revenue, with a segment loss of approximately HKD 19.2 million[46]. Investment and Expansion Plans - The company plans to expand investment opportunities in the Caribbean and Latin America, targeting sectors such as clean energy, education, tourism, and retail[19]. - The company is seeking partnerships with strong investors for projects in designated Caribbean countries and Panama, with plans to initiate these projects in 2022 and 2023[19]. - The company is developing residential and commercial projects in Shenzhen, including the Lai Ying Garden and Guan Zhang Electric Factory urban renewal projects[23][24]. - The group acquired 70.5% of Caribbean Education Group Limited, marking a significant entry into the Caribbean market with a mixed-use development project in Grenada covering 450 acres[57]. - The Grenada project is part of the Citizenship by Investment (CBI) program, allowing foreign investors to gain Grenadian citizenship and passport, facilitating visa-free travel to over 153 countries[57]. - The company plans to invest in BOT projects to establish sustainable clean energy hubs in the Caribbean, with the first phase involving the construction of photovoltaic power stations and energy management systems expected to commence in the second half of 2022[65]. - The education sector project in Grenada aims to develop a university town with two to three international universities, targeting to start operations by August 2025 and accommodating 8,000 students[66]. - In Panama City, the company plans to develop an international school and student housing for 18,000 students, along with 4,500 residential apartments and 1,500 townhouses, with approvals expected by August 2022[66]. - The company has signed a memorandum of understanding with the government of Antigua and Barbuda to invest in hundreds of hotel rooms, with various tax incentives provided for the project[67]. - The company is considering taking over a resort development project in St. Kitts, with the first phase already completed and the second phase under construction[67]. Operational Challenges and Risks - The acquisition of Xian Shi Limited was completed in May 2021, contributing to an operating loss of approximately HKD 19,200,000 in the department store segment for the fiscal year[17]. - Selling and distribution expenses increased by HKD 57,300,000 due to the acquisition of Xianshi and the integration of business development expenses and employee costs[35]. - Administrative expenses rose by approximately HKD 31,900,000, mainly due to the integration of administrative expenses from the acquisition of Xianshi[36]. - Financial costs increased by approximately HKD 75,400,000, as bank borrowings rose from HKD 10.1 billion in fiscal year 2020 to HKD 10.5 billion in fiscal year 2021[37]. - The company’s net profit was impacted by low gross margins and increased credit risk from long-term unpaid trade receivables in the environmental segment[53]. - The group faces concentration risk, with its top five customers accounting for approximately 52.8% of total revenue and top five suppliers for about 67.4% of total procurement[72]. Environmental, Social, and Governance (ESG) Initiatives - The group emphasizes compliance with environmental regulations and has not identified any significant non-compliance issues related to gas emissions or waste management[78]. - The group is committed to maintaining high standards of corporate social responsibility, focusing on energy conservation and waste reduction in daily operations[83]. - The company aims to integrate environmental sustainability into its operations and reduce environmental impact through various measures[154]. - The company is committed to educating employees on environmental awareness and compliance with relevant laws and regulations[154]. - The company has implemented a series of emission control measures, including regular maintenance of vehicles to enhance fuel efficiency and reduce pollutant emissions[155]. - The company has installed gas collection and extraction devices at its plastic recycling facility in Japan to minimize environmental impact from waste gas emissions[155]. - The company adheres to strict regulations regarding hazardous waste management, ensuring all hazardous waste is disposed of by licensed collectors[162]. - The total greenhouse gas emissions in 2021 reached 2,040.92 tons of CO2 equivalent, a substantial increase from 293.52 tons in 2020[158]. - The total energy consumption in 2021 was 4,011,969.89 kWh, significantly higher than 637,352.23 kWh in 2020, representing an increase of approximately 528.5%[168]. - The company has implemented energy-saving measures, including replacing traditional lighting with LED lights to reduce energy consumption and waste[167]. Corporate Governance and Management - The board of directors is responsible for the overall strategy and governance of the company, ensuring the successful development of the group[118]. - The company has adopted the standard code of conduct for securities transactions by directors, confirming compliance for the fiscal year ending December 31, 2021[117]. - The board has established a risk management and internal control system to safeguard the group's assets and shareholders' interests, with no significant control deficiencies identified during the internal review conducted in 2021[140]. - The company maintains a clear separation of responsibilities between the chairman and the CEO to balance authority and power[121]. - The company has established appropriate management policies and internal control systems for environmental, social, and governance issues during the reporting period[152]. - The company has complied with all provisions of the Corporate Governance Code during the fiscal year ending December 31, 2021[115]. - The independent non-executive directors confirmed that the related party transactions were conducted in the ordinary course of business and on normal commercial terms[113]. - The company has established a working group to manage ESG matters, responsible for collecting relevant data and reporting to the board[141]. Employee and Workplace Safety - The group achieved zero work-related fatalities during the reporting period, with no lost workdays due to occupational injuries[188]. - The group has implemented strict safety management measures, including the installation of dust, noise, and poison prevention equipment at all operational sites[190]. - All employees are provided with personal protective equipment, including dust masks and noise-canceling earplugs, and are required to participate in safety training[191]. - The group has established a comprehensive health and safety plan in response to the COVID-19 pandemic, including risk assessments to identify potential hazards[195]. - The group has a dedicated department to oversee safety inspections and regularly reviews occupational health and safety performance[189]. - The overall employee turnover rate for the reporting period was 30.71%[182]. - The average training hours per employee were 54 for males and 46 for females, with senior management receiving an average of 57 hours of training[196].

Financial Performance - Total revenue for the six months ended June 30, 2021, was HKD 445,408,000, an increase of 45.5% compared to HKD 306,112,000 for the same period in 2020[19] - Gross profit for the same period was HKD 132,439,000, representing a gross margin of 29.7%, up from HKD 86,604,000 in 2020[19] - Net profit for the six months ended June 30, 2021, was HKD 53,115,000, a 10.4% increase from HKD 47,991,000 in the previous year[20] - Basic earnings per share increased to HKD 3.293 from HKD 3.194, reflecting a growth of 3.1%[19] - The company reported a total comprehensive income of HKD 143,796,000 for the period, compared to a loss of HKD 42,598,000 in the previous year[20] - The financial performance indicates a positive outlook for the company, with strategic plans for market expansion and new product development[31] Assets and Liabilities - Non-current assets totaled HKD 10,461,233,000 as of June 30, 2021, down from HKD 12,445,778,000 at the end of 2020[21] - Current assets increased significantly to HKD 5,995,713,000 from HKD 3,060,040,000, indicating strong liquidity[21] - The company's equity attributable to owners increased to HKD 3,643,315,000 as of June 30, 2021, compared to HKD 3,505,463,000 at the end of 2020, reflecting a growth of approximately 3.93%[22] - The company's non-current liabilities increased to HKD 11,798,502,000 as of June 30, 2021, compared to HKD 11,094,244,000 at the end of 2020, indicating a rise of approximately 6.35%[22] - The total assets of the company as of June 30, 2021, were HKD 16,456,946,000, up from HKD 15,505,818,000 at the end of 2020, representing an increase of about 6.13%[22] - The company’s total liabilities reached HKD 12,813,631,000 as of June 30, 2021, compared to HKD 11,911,000,000 at the end of 2020, indicating a growth of about 7.56%[22] Cash Flow and Financing - The net cash used in operating activities for the six months ended June 30, 2021, was HKD (160,726,000), an improvement from HKD (230,785,000) in the same period of 2020[23] - The cash outflow from the acquisition of subsidiaries amounted to HKD (298,828,000) during the first half of 2021, with no comparable figure for the previous year[23] - The total cash and cash equivalents at the end of June 30, 2021, were HKD 503,301,000, down from HKD 1,598,575,000 at the end of June 30, 2020[23] - The company reported a net cash outflow from financing activities of HKD (347,402,000) for the first half of 2021, compared to a net inflow of HKD 1,330,591,000 in the same period of 2020[23] - The company’s bank borrowings amounted to HKD 10,359,485,000, an increase from HKD 10,108,023,000 as of December 31, 2020, representing a growth of approximately 2.48%[65] - The company’s total bank borrowings, including secured and unsecured loans, increased from HKD 10,108,023,000 as of December 31, 2020, to HKD 10,359,485,000 as of June 30, 2021, reflecting a growth of about 2.48%[65] Revenue Segments - Customer contract revenue was HKD 422.157 million, with contributions from various segments including HKD 256.665 million from waste materials and HKD 74.513 million from automotive parts[31] - The automotive parts segment generated HKD 55.915 million in revenue, reflecting a strong market demand[33] - The waste materials segment accounted for HKD 171.224 million, highlighting its importance in the overall revenue mix[33] - The financial services segment's revenue rose from HKD 35.9 million in the first half of 2020 to HKD 66.4 million in the first half of 2021[92] - The environmental segment reported revenue of approximately HKD 256,700,000, a 49.9% increase from HKD 171,200,000, with segment profit rising by 98.4% to HKD 17,500,000[98] Strategic Plans and Market Position - The company plans to expand its market presence and invest in new product development to drive future growth[19] - The company is focusing on enhancing operational efficiency and exploring potential mergers and acquisitions to strengthen its market position[19] - The group is committed to a prudent approach to business development while exploring strategic investment opportunities to maximize shareholder returns[106] - The group anticipates that the recovery from the COVID-19 pandemic will lead to a resurgence in global economic and business activities in 2021, despite ongoing trade tensions between China and the U.S.[106] Compliance and Governance - The company is taking necessary remedial measures regarding compliance issues with the Insurance Authority[89] - The company anticipates a low likelihood of further enforcement actions from the Insurance Authority if compliance plans are followed[89] - The company has adopted the standard code of conduct for directors' securities transactions as per the listing rules[128] - The company is committed to high standards of corporate governance and has complied with all relevant codes during the reporting period[127] Employee and Remuneration - The group employed a total of 470 employees as of June 30, 2021, with 329 in Hong Kong, 107 in China, and 34 in Japan[128] - The remuneration committee has reviewed and determined the group's remuneration policies, including those for executive directors and senior management[128]