Financial Performance - The total revenue for the year ended December 31, 2020, was approximately HKD 869.3 million, representing a year-on-year growth of about 4.9% compared to HKD 828.9 million in 2019[5]. - Gross profit increased by approximately 6.9% to about HKD 201.1 million, up from HKD 188.1 million in 2019[5]. - The company recorded a net profit of approximately HKD 892.3 million, a significant improvement from a net loss of HKD 404.7 million in 2019[5]. - Fair value changes on investment properties resulted in a net gain of approximately HKD 2.4634 billion, compared to a net loss of HKD 202.6 million in 2019[5]. - The group recorded a profit of approximately HKD 892.3 million, compared to a loss of about HKD 404.7 million in the previous year[20]. - The fair value change of investment properties resulted in a net gain of approximately HKD 2.4634 billion, compared to a loss of about HKD 202.6 million in the previous year[20]. - The property segment generated a profit of approximately HKD 2.0508 billion, a significant increase from HKD 73.3 million in the previous year, marking a growth of about 28 times[22]. - Financial services revenue reached approximately HKD 82.1 million, doubling from HKD 40.9 million in the previous year[23]. - The group incurred a tax expense of approximately HKD 557.7 million, primarily due to deferred tax arising from fair value changes of investment properties[20]. Revenue Segmentation - Revenue from the environmental segment accounted for approximately 62.6% of total revenue, while automotive parts and financial services contributed 18.3% and 9.4% respectively[19]. - The financial services segment was the main driver of revenue growth, with a significant increase in brokerage fees due to a surge in trading volume, resulting in a fourfold increase in new securities account openings[8]. - The environmental segment remained a primary source of revenue, but sales revenue slightly declined due to stricter environmental policies in China and the impact of COVID-19 on waste procurement and sales[8]. - The automotive parts segment experienced sales revenue growth as more customers opted for vehicle repairs instead of purchasing new cars, maintaining stable product supply despite challenges from the pandemic[9]. - Environmental segment revenue decreased by approximately 8.1% to about HKD 544,100,000, primarily due to falling copper prices and COVID-19 lockdowns[24]. - Automotive parts segment revenue increased by approximately 48.8% to HKD 159,300,000, despite a decline in profit from HKD 10,100,000 to HKD 6,400,000[25]. - Commercial printing segment revenue decreased by 6.6% to approximately HKD 72,700,000, with operating profit remaining low at HKD 400,000[26]. Dividends and Shareholder Returns - The company did not recommend any interim or final dividends for the year, resulting in a total dividend of zero, consistent with 2019[6]. - The group plans to continue exploring strategic opportunities to maximize shareholder returns while maintaining stable business development[32]. - The company has no distributable reserves as of December 31, 2020, consistent with the previous year[68]. Business Development and Projects - The company anticipates that its property projects will benefit from the development plans of the Chinese government in Shenzhen, particularly in urban renewal projects[7]. - The renovation of the Wei Lu Shopping Center is now targeted for completion in the third quarter of 2021, after delays due to the pandemic[7]. - The company has signed leases with multiple new tenants for the Wei Lu Yuyuan project, including well-known supermarkets and restaurants[7]. - The redevelopment plan for the Qian Keng property has received preliminary approval from the Urban Renewal Bureau as of August 2020[7]. - The company is currently in the process of selecting design and construction plans for the redevelopment project, with demolition work already commenced[7]. - The Weilu Ya Garden project includes commercial properties such as a business apartment and a shopping center, with signed tenants including well-known supermarkets and restaurants[35]. - The Weilu Technology Park is positioned as an integrated venture capital platform, with plans for a world-class science city in Guangming District by 2025, covering 99 square kilometers[36]. - The company has submitted an application for the extension of land use for the second phase of the Weilu Technology Park, with the first phase including multiple office buildings[37]. - The Qian Keng property, acquired in June 2016, has received preliminary government approval for land use change from industrial to commercial-residential[38]. - The Laiying Garden redevelopment project in Nanshan District is set to begin demolition of existing residential units in the second half of 2021[39]. Market Outlook and Strategy - The company is optimistic about the Hong Kong financial and IPO market in 2021, planning to expand its investment product offerings and regional markets[8]. - The company is exploring business cooperation opportunities with state-owned enterprises in China and assessing market potential in Indonesia and the Philippines[9]. - The company remains cautiously optimistic about recovery post-pandemic, despite potential uncertainties from the global situation and US-China tensions[9]. - The company plans to implement cost control measures in response to potential threats in the commercial printing and label industries[9]. - The company aims to enhance its procurement network and customer types while maintaining the stability of its procurement network amid ongoing pandemic challenges[9]. - The company is focused on diversifying its product portfolio and improving procurement and processing capabilities in the near future[8]. Financial Position and Assets - The group held cash and bank balances of approximately HKD 1,268,300,000 as of December 31, 2020, up from HKD 585,100,000 the previous year[29]. - The group's interest-bearing borrowings amounted to approximately HKD 10,852,200,000, an increase from HKD 8,656,700,000 the previous year, resulting in a debt-to-equity ratio of approximately 309.6%[29]. - The group’s financial assets at fair value through profit or loss amounted to approximately HKD 15,300,000 as of December 31, 2020[28]. - The group’s net realized gains from the sale of financial assets at fair value through profit or loss totaled approximately HKD 2,800,000 during the fiscal year[28]. - The value of the group's investment properties as of December 31, 2020, was HKD 11,839,176,000, accounting for 71% of the total assets[192]. - The net change in fair value of investment properties recognized in profit or loss was HKD 2,463,416,000[192]. Governance and Compliance - The company has a strong governance structure with experienced directors and senior management[66]. - The board of directors includes independent non-executive directors who have confirmed their independence as per the listing rules[69]. - The company has established a clear distinction between the roles of the Chairman and the CEO to balance authority and power[101]. - The independent non-executive directors provide valuable insights on strategic development and ensure compliance with financial regulations[102]. - The company has complied with all provisions of the Corporate Governance Code during the year ended December 31, 2020[96]. - The independent non-executive directors confirmed that the related party transactions were conducted in the ordinary course of business and on normal commercial terms[91]. - The external auditor issued an unqualified opinion on the related party transactions disclosed in the financial statements[91]. - The company has established a whistleblowing policy to combat corruption and fraud, allowing anonymous reporting of suspicious activities[186]. - The group has a clear conflict of interest policy requiring disclosure of any significant transactions to the board[184]. - The group is committed to maintaining a culture of integrity and business ethics among employees and partners[183]. Environmental, Social, and Governance (ESG) Initiatives - The environmental, social, and governance (ESG) report outlines the company's measures, plans, and performance in ESG aspects for the reporting period from January 1, 2020, to December 31, 2020[120]. - The company aims to maintain a balanced report, fairly disclosing progress and ongoing challenges in key performance areas[124]. - The company is committed to sustainable development and regularly engages with stakeholders to understand their concerns regarding sustainability issues[123]. - The company has established effective management policies and internal control systems regarding environmental, social, and governance issues[134]. - The company has implemented measures to reduce energy consumption and improve environmental performance, including the gradual replacement of traditional diesel vehicles with energy-efficient cars[137]. - The company has installed gas collection and extraction devices at its recycling facility in Japan to mitigate the impact of emissions from plastic processing[137]. - The company emphasizes employee education on environmental awareness and compliance with relevant laws and regulations[136]. - The company has adopted a closed design and soundproof barriers at its recycling facility in Japan to manage noise pollution[142]. - The total greenhouse gas emissions for 2020 increased by approximately 79.52% compared to 2019, primarily due to the expansion of the recycling facility in Japan[139]. - The total greenhouse gas emissions for 2020 amounted to 293.52 tons of CO2 equivalent, with a density of 3.26 tons of CO2 equivalent per employee, compared to 163.50 tons in 2019[140]. - The nitrogen oxides (NOx) emissions for 2020 were 20.94 kg, an increase from 13.38 kg in 2019, while sulfur oxides (SOx) emissions rose to 0.27 kg from 0.15 kg[138]. Employee and Workplace Safety - The group has established a welfare committee to review employee benefits, providing comprehensive coverage including medical insurance[160]. - The group adheres to local labor laws, ensuring compliance with minimum wage, working hours, and paid leave requirements[160]. - The group has set a target of zero industrial accidents, emphasizing a "safety first" philosophy in its operations[163]. - The group has installed dust, noise, and poison prevention equipment in its offices and recycling sites to protect employee health[165]. - Personal protective equipment such as dust masks and noise-canceling earplugs are provided to frontline employees[166]. - The group conducts regular safety inspections and training to enhance employee awareness of workplace safety[164]. - The company has implemented comprehensive occupational health training programs to ensure employee safety in equipment operation[168]. - A strict emergency response plan has been established, including regular fire drills to prepare staff for potential risks such as fire and power outages[169]. - The company has developed two separate health and safety plans for office and site employees in response to the COVID-19 pandemic, including a thorough hazard assessment[170]. Supplier and Procurement Management - The company emphasizes sustainable supply chain management, requiring suppliers to comply with legal and ethical standards[173]. - A fair and transparent evaluation process for supplier selection is in place, focusing on past experience, pricing, reputation, and corporate social responsibility[174]. - The company prioritizes local suppliers to reduce carbon emissions from transportation and optimizes delivery plans to minimize environmental impact[176]. - The company has established a quality management system to ensure compliance with local and international standards, enhancing customer confidence in its products[178]. - The company adheres to fair advertising principles, ensuring that product information is accurate and not misleading[179]. Risk Management and Internal Controls - The board is responsible for maintaining an effective risk management and internal control system to protect the group's assets and shareholders' interests[109]. - The audit committee is responsible for overseeing the financial reporting process and ensuring the adequacy of internal controls[108]. - The company employs an expected credit loss model to assess impairment for trade receivables and loans, based on historical default rates and forward-looking information[194]. - The auditor assessed the risks of material misstatement and designed audit procedures to address those risks, emphasizing the higher risk associated with fraud compared to error[198]. - The auditor evaluated the appropriateness of accounting policies and the reasonableness of accounting estimates and disclosures made by the company's directors[199].

Financial Performance - Total revenue for the six months ended June 30, 2020, was HKD 306,112,000, a decrease of 24.1% from HKD 403,401,000 in the same period of 2019[9] - Gross profit for the same period was HKD 86,604,000, down 14.4% from HKD 101,084,000 year-on-year[9] - The net profit for the six months ended June 30, 2020, was HKD 47,991,000, a significant decline of 85.3% compared to HKD 326,680,000 in 2019[10] - Basic earnings per share for the period were HKD 3.194, down from HKD 21.874 in the previous year, reflecting a decrease of 85.4%[8] - The company reported a net profit before tax of HKD 164,197,000 for the first half of 2020[31] - The company's current profit for the six months ended June 30, 2020, is HKD 45,940,000, a significant decrease from HKD 314,107,000 for the same period in 2019, representing a decline of approximately 85.3%[46] Revenue Sources - The company confirmed revenue from various sources, including automotive parts sales and financial printing services, with revenue recognition based on the transfer of control to customers[23] - Total customer contract revenue reached 306,112 thousand HKD, with significant contributions from various segments including automotive parts and printing services[25] - Automotive parts sales generated 55,915 thousand HKD, while waste sales contributed 171,224 thousand HKD to the total revenue[25] - Printing services accounted for 37,720 thousand HKD, and financial services added 26,562 thousand HKD to the overall revenue[25] - Revenue from the environmental segment was approximately HKD 171.2 million, a decrease of about 41.4% compared to the first half of 2019[75] - Financial services segment revenue increased to approximately HKD 35.9 million, a growth of 1.6 times compared to HKD 14 million in the first half of 2019[76] - Revenue from the automotive parts segment was approximately HKD 55.9 million, a slight increase of about 10.3% compared to the first half of 2019[77] - Revenue from the commercial printing segment decreased by 7.2% to approximately HKD 37.7 million, resulting in a loss of approximately HKD 1.6 million in the first half of 2020[78] Assets and Liabilities - Total assets as of June 30, 2020, amounted to HKD 13,121,273,000, an increase from HKD 11,763,083,000 at the end of 2019[11] - The total equity attributable to owners of the company decreased to HKD 2,298,527 thousand from HKD 2,345,095 thousand, representing a decline of approximately 2.0%[12] - The total non-current liabilities increased to HKD 9,934,581 thousand from HKD 8,543,793 thousand, indicating a rise of approximately 16.3%[12] - The company’s total liabilities increased to HKD 13,121,273 thousand from HKD 11,763,083 thousand, reflecting an increase of approximately 11.5%[12] - The total receivables from trade and securities brokerage amounted to HKD 609,517,000 as of June 30, 2020, compared to HKD 410,569,000 at the end of 2019, marking an increase of about 48.5%[49] Cash Flow and Liquidity - Cash and cash equivalents increased to HKD 1,618,575,000 from HKD 585,052,000, indicating a strong liquidity position[11] - The net cash used in operating activities for the six months ended June 30, 2020, was HKD (230,785) thousand, compared to HKD 139,384 thousand for the same period in 2019[13] - The net cash generated from financing activities increased significantly to HKD 1,330,591 thousand from HKD 593,245 thousand year-over-year, marking an increase of approximately 124.9%[13] - The cash and cash equivalents at the end of the period rose to HKD 1,598,575 thousand, up from HKD 966,970 thousand, reflecting an increase of approximately 65.2%[13] - The company reported a net cash outflow from investment activities of HKD 635,296 thousand, compared to a net cash outflow of HKD 8,327 thousand in the current period[13] Financial Expenses and Tax - The company experienced a significant increase in financial expenses, which rose to HKD 308,392,000 from HKD 280,354,000, reflecting a rise of 10.0%[9] - The total tax expense for the six months ended June 30, 2020, is HKD 116,206,000, down from HKD 195,765,000 in 2019, indicating a reduction of about 40.5%[43] - The deferred tax expense for the six months ended June 30, 2020, is HKD 114,503,000, down from HKD 188,953,000 in 2019, indicating a decrease of approximately 39.3%[43] Corporate Governance and Compliance - The audit committee consists of three independent non-executive directors, ensuring compliance with accounting principles and internal controls[104] - The company has adhered to high standards of corporate governance and complied with all relevant codes during the reporting period[102] - No significant interests in any important contracts related to the group's business were disclosed by the directors during the reporting period[101] Future Outlook and Strategy - The company provided a future outlook projecting a revenue growth of 20% for the next fiscal year[105] - The company is considering strategic acquisitions to enhance its product offerings and market presence[105] - The group plans to acquire all issued shares of a Hong Kong-listed company, with a final offer price of HKD 0.3935 per share, aiming to diversify its business into the Hong Kong department store sector[91] - The group anticipates ongoing intense competition and weak demand in the commercial printing segment, which is expected to persist for several years[90] - The group will continue to review and assess relevant risks, benefits, and prospects in its operations[90]

Financial Performance - Total revenue for the fiscal year ended December 31, 2019, was approximately HKD 828.9 million, with a loss attributable to equity holders of approximately HKD 415.5 million, resulting in a basic loss per share of HKD 0.2889[22]. - The company reported a net loss of approximately HKD 404.7 million for the year, compared to a profit of approximately HKD 383.7 million in the previous year[36]. - The total revenue for the year was approximately HKD 828.9 million, an increase of about 2.2% from approximately HKD 811 million in the previous year[36]. - The company recognized a remeasurement gain of HKD 709,402,000 related to interests in associates in 2019, which was not present in 2018[194]. - The total equity attributable to the company's owners decreased to HKD 2,345,095, down from HKD 2,878,448 in the previous year, representing a decline of approximately 18.5%[200]. Revenue Breakdown - Revenue contributions came primarily from the environmental category (71.4%), automotive parts category (12.9%), and commercial printing category (9.4%)[36]. - Revenue from environmental classification increased from HKD 570.8 million in FY2018 to HKD 592.2 million in FY2019, a growth of approximately 3.8%[39]. - Revenue from financial services surged approximately 300% to HKD 40.9 million in FY2019, up from HKD 10.3 million in FY2018, with an operating profit of HKD 12.6 million compared to a loss of HKD 20.3 million in FY2018[41]. - Revenue from the automotive parts segment declined by 15.8% to HKD 107 million in FY2019, down from HKD 127.1 million in FY2018, while operating profit improved to HKD 10.1 million from breakeven in FY2018[42]. - Revenue from commercial printing decreased by approximately 5.5% to HKD 77.9 million in FY2019, with operating profit dropping by 70.9% to HKD 0.7 million[43]. Investment Activities - The group completed the acquisition of a company with a primary asset being a residential property in Hong Kong, which is expected to diversify the investment property portfolio[24]. - The company completed the acquisition of 60% equity in Chuangyue Financing in April 2019, enhancing its financial services segment in Hong Kong[26]. - The company is seeking government approval for the redevelopment of the Zhangkengjing property from industrial to residential and office use, with the application currently under review[33]. - The company has received preliminary approval to convert the Xikeng property into affordable housing and residential use, with expectations for final approval in the second half of 2020[25]. - The company is expanding its processing plant in Osaka, Japan, to enhance local operations and productivity, aiming to diversify its product offerings[25]. Economic Outlook - The group anticipates 2020 to be a challenging year due to ongoing trade tensions and the impact of the COVID-19 pandemic on global business sentiment[24]. - The GDP growth rate in China for 2019 was 6.1%, down from 6.6% in 2018, marking the lowest growth rate in a decade[24]. - The company anticipates challenges in the property market due to the COVID-19 pandemic but remains optimistic about long-term prospects, particularly in Shenzhen's Longhua and Guangming districts, which are designated as rapidly developing economic areas[50]. - The company expects stable demand for automotive parts as consumers opt to repair old vehicles instead of purchasing new ones[55]. - The company forecasts continued intense competition and weak demand in the commercial printing segment, with plans to implement cost control measures[56]. Financial Position - As of December 31, 2019, the group had cash and bank balances totaling approximately HKD 585.1 million, down from HKD 896.5 million a year earlier[46]. - The group's debt-to-equity ratio increased to 369.1% as of December 31, 2019, compared to 266.6% a year earlier, with interest-bearing borrowings amounting to approximately HKD 8.66 billion[46]. - The company’s cash and cash equivalents were HKD 585,052,000 in 2019, down from HKD 896,544,000 in 2018, a decrease of 34.7%[198]. - Non-current liabilities increased to HKD 8,543,793 from HKD 7,555,408, reflecting a growth of about 13.0% year-over-year[200]. - The company's total assets increased to HKD 11,763,083 from HKD 10,487,834, marking a growth of approximately 12.2%[200]. Environmental and Social Responsibility - The company is committed to corporate social responsibility, focusing on energy conservation and waste reduction in daily operations[72]. - The company reported a total greenhouse gas emissions of 163.50 tons (CO2 equivalent) in 2019, a decrease from 167.95 tons in 2018 and 190.68 tons in 2017[132]. - The company has established a comprehensive environmental management system to comply with regulations and improve environmental performance[127]. - The company encourages the use of modern communication methods to reduce business travel and associated greenhouse gas emissions[133]. - The group aims to continue its charitable efforts and support for disadvantaged communities as part of its corporate social responsibility[180]. Governance and Compliance - The board of directors includes three executive directors and three independent non-executive directors, with two directors eligible for re-election at the upcoming annual general meeting[79]. - The company confirmed compliance with all code provisions of the Corporate Governance Code during the year ended December 31, 2019[99]. - The independent non-executive directors provided valuable insights on strategic development and ensured compliance with financial regulations[105]. - The company has established policies and guidelines for handling and disclosing inside information, ensuring compliance with relevant regulations[112]. - The company has not identified any significant control deficiencies based on the internal control review conducted in 2019[112].

Financial Performance - The total revenue for the year ended December 31, 2018, was approximately HKD 811 million, an increase from HKD 763 million in 2017[5]. - The profit attributable to equity holders was approximately HKD 363.3 million, with a basic earnings per share of HKD 0.2689 based on a weighted average of 1,350,887,946 shares[7]. - The profit margin from environmental classification increased from 9.4% to 15.9% during the year[7]. - Operating profit for the year was HKD 979.9 million, significantly higher than HKD 197.1 million in 2017[5]. - The total dividend for the year was zero, consistent with the previous year[8]. - The company reported a net profit of approximately HKD 383,711,000, representing a significant increase of 244.5% compared to HKD 111,221,000 in 2017[169]. - Basic earnings per share for 2018 were HKD 26.89, compared to HKD 8.11 in 2017, reflecting a growth of 231.1%[167]. - The company reported a substantial increase in reserves to HKD 2,734,877 thousand in 2018, compared to HKD 955,317 thousand in 2017, reflecting strong profitability[173]. Assets and Liabilities - The total assets as of December 31, 2018, amounted to HKD 11,421.7 million, compared to HKD 2,175.5 million in 2017[6]. - Total liabilities were HKD 8,489.2 million, up from HKD 1,071.5 million in the previous year[6]. - The net asset value increased to HKD 2,932.4 million from HKD 1,104.0 million in 2017[6]. - Non-current assets increased significantly to HKD 9,409,334 thousand in 2018 from HKD 1,513,429 thousand in 2017, primarily driven by investment properties[171]. - Current liabilities increased to HKD 933,835 thousand in 2018, compared to HKD 461,501 thousand in 2017, indicating higher trade payables and bank borrowings[171]. - The company's total liabilities increased significantly, with bank borrowings rising to HKD 2,668,773,000 from HKD 204,805,000 in the previous year, reflecting increased leverage for growth initiatives[180]. Investments and Acquisitions - The company agreed to acquire 10% equity in a securities company in Guangzhou for RMB 350 million, pending regulatory approval[8]. - The company completed the acquisition of a Hong Kong-registered company licensed for regulated activities, enhancing its financial services portfolio[9]. - The company completed the acquisition of Realord Ventures Limited, enhancing its property investment business and expected to generate stable rental income[10]. - The company acquired 100% equity of Realord Ventures Limited and Manureen Ventures Limited for RMB 5,854,995,000 (approximately HKD 7,323,176,000) on April 19, 2018, constituting a related party transaction[71]. - The company also entered into an agreement to acquire 60% equity of Chuangyue Financing Limited for HKD 96,000,000 on December 27, 2018, which is also classified as a related party transaction[71]. Revenue Segments - Revenue from the automotive parts segment increased by 46.3% to approximately HKD 127,100,000, attributed to significant growth in the Guangzhou operations[17]. - The commercial printing segment recorded a revenue increase of 17.6% to approximately HKD 82,400,000, driven by multiple IPO projects and acquisitions[16]. - The environmental segment generated revenue of approximately HKD 570,800,000, accounting for 70.4% of total revenue, with a slight decline due to new government regulations[20]. - The financial services segment reported stable revenue of approximately HKD 10,300,000, but incurred an operating loss of HKD 20,300,000 due to impairment provisions[18]. - The property investment segment's revenue decreased by 3.3% to approximately HKD 19,500,000, but the fair value gain from investment properties increased significantly to approximately HKD 671,400,000[21]. Corporate Governance - The board of directors includes three executive directors and three independent non-executive directors[57]. - The company confirmed compliance with the Corporate Governance Code throughout the year ending December 31, 2018[73]. - Deloitte Touche Tohmatsu will be proposed for reappointment as the company's independent auditor at the upcoming annual general meeting[72]. - The audit committee held two meetings during the year ended December 31, 2018, with full attendance from its three independent non-executive directors[84]. - The company has committed to maintaining effective communication with shareholders through various channels, including annual general meetings and timely performance announcements[94]. Environmental and Social Responsibility - The company emphasizes compliance with environmental regulations and has not identified any significant non-compliance issues[43]. - The company has implemented various energy-saving measures and promotes recycling to protect the environment[49]. - The company aims to phase out traditional diesel vehicles in favor of electric vehicles to achieve zero emissions on the road[102]. - The company generated zero hazardous waste in 2018, compared to 0.33 tons in 2017, achieving a 100% reduction[112]. - The group donated HKD 10 million to support pediatric cardiac research, demonstrating commitment to community investment[151]. Employee and Workforce Management - The total number of employees increased from 63 in 2017 to 176 in 2018, marking a growth of 179.4%[112]. - The group has implemented a comprehensive benefits package for all employees, including medical insurance and training subsidies[128]. - The group has a strict anti-discrimination policy in hiring, promotion, and other employment practices to promote diversity[127]. - The group provides personal protective equipment to frontline employees, including dust masks and noise-canceling earplugs[131]. - The percentage of employees receiving training in 2018 was 100% for both male and female employees in Shenzhen and Guangxi, compared to 32.7% and 67.3% respectively in 2017 for males and females in Shenzhen[136].