Financial Performance - The Group recorded a loss of approximately HK$164.4 million for the year ended 31 December 2021, a decrease from the loss of approximately HK$332.9 million for the preceding year[9]. - For the year ended December 31, 2021, the Group's revenue was approximately HK$93.9 million, representing an increase of approximately 148.7% from approximately HK$37.8 million in the preceding year[16]. - The significant revenue increase was mainly due to the Paris Marriott Hotel's reopening on June 15, 2021, after being temporarily closed for over nine months in the preceding year[16]. - The Group recorded a share of loss from an associate of approximately HK$25.5 million, an increase of approximately 285.6% from approximately HK$6.6 million in the preceding year[16]. - The Group recorded a fair value loss of approximately HK$9.6 million on convertible bonds during the year, despite these bonds continuing to contribute interest income[9]. - The Paris Marriott Hotel recorded a loss of approximately HK$29.1 million for the Year, significantly reduced from a loss of approximately HK$445.1 million for the Preceding Year[21]. Asset and Liability Management - Total non-current assets decreased by approximately 9.9% to approximately HK$2,698.5 million as at 31 December 2021, down from approximately HK$2,996.5 million as at 31 December 2020[19]. - The Group's total current assets as at 31 December 2021 amounted to approximately HK$1,016.7 million, representing a decrease of approximately 5.0% from approximately HK$1,070.7 million as at 31 December 2020[19]. - Total current liabilities decreased by approximately 96.2% to approximately HK$64.2 million as at 31 December 2021, down from approximately HK$1,689.5 million as at 31 December 2020[19]. - As of December 31, 2021, total assets were approximately HK$3,715.2 million, down from HK$4,067.2 million in the previous year[40]. - The Group's outstanding bank loans and other borrowings amounted to approximately HK$1,516,800,000 as of December 31, 2021, compared to approximately HK$1,625,800,000 as of December 31, 2020[42]. - The Group's gearing ratio increased to approximately 40.8% as of December 31, 2021, from approximately 40.0% in the previous year[40]. Renovation and Operational Improvements - The Paris Marriott Hotel is undergoing Phase 1 renovations to enhance competitiveness and guest experience[12]. - The Group committed to a renovation plan of approximately HK$113.4 million for refurbishing certain hotel rooms and corridors of the Paris Marriott Hotel, which commenced in January 2022[22]. - The Paris Marriott Hotel has seen strong demand for hotel rooms since reopening on June 15, 2021, despite ongoing renovations[36]. Market Conditions and Outlook - The Group anticipates a challenging business and investment outlook for 2022 due to ongoing uncertainties from the coronavirus pandemic and global tensions[12]. - The price of commercial and residential properties in Hong Kong showed a downtrend during the year, with expectations of continued decline in 2022[12]. - The mortgage loan market in Hong Kong is expected to remain challenging and competitive[36]. Corporate Governance - The Company has maintained compliance with the Corporate Governance Code throughout the year ended 31 December 2021, with specific deviations noted[58]. - The Board is responsible for directing the strategic objectives of the Group and overseeing business management[65]. - The Company has adopted a code of conduct for Directors' securities transactions that meets the standards of the Model Code[64]. - The overall corporate governance structure includes the Board of Directors, committees, and external auditors[66]. - The Company is committed to monitoring and revising corporate governance policies to meet shareholder expectations[62]. Environmental, Social, and Governance (ESG) Initiatives - The Company identified five key ESG issues through stakeholder engagement to formulate its ESG objectives[169]. - The Group has implemented enhanced cleaning protocols, including increased frequency of cleaning high-traffic areas and installation of hand sanitizing stations[178]. - The Group aims to minimize emissions and waste through resource conservation and environmental awareness training for staff and guests[187]. - The Group's major sources of emissions include greenhouse gas from town gas and electricity, garbage from guests and office, and food waste from services[189]. - The Group has implemented comprehensive hygiene and infection control practices to ensure a safe working environment for employees[185].

Financial Performance - Revenue for the six months ended June 30, 2020, was HK$35,635,000, a decrease of 68% compared to HK$111,126,000 in 2019[19]. - Gross loss for the period was HK$25,085,000, compared to a gross profit of HK$15,851,000 in the same period of 2019[19]. - Loss before tax increased to HK$43,174,000 from HK$16,260,000 in 2019, reflecting a significant decline in performance[19]. - Loss for the period attributable to owners of the company was HK$33,574,000, compared to HK$14,672,000 in 2019, representing a 129% increase in losses[21]. - Total comprehensive loss for the period was HK$32,279,000, compared to HK$21,804,000 in 2019, indicating a worsening financial position[21]. - The hotel operation segment reported a loss of HK$43,168, compared to a loss of HK$17,717 in the prior year, indicating a significant decline in performance[46]. - The Group recorded a loss for the period of approximately HK$33.6 million, compared to a loss of approximately HK$14.7 million for the same period in 2019[153]. Financial Position - Total assets as of June 30, 2020, were HK$4,157,425,000, a slight decrease from HK$4,210,121,000 at the end of 2019[23]. - Current liabilities increased significantly to HK$1,534,688,000 from HK$68,700,000 at the end of 2019, indicating liquidity challenges[23]. - Total equity decreased from HK$2,422,839,000 to HK$2,390,560,000, reflecting a decline in reserves from HK$1,144,951,000 to HK$1,112,672,000[25][28]. - The Group's total assets and net assets as of June 30, 2020, were approximately HK$4,157.4 million and approximately HK$2,390.6 million, respectively[185]. - The total current assets of the Group as at June 30, 2020 amounted to approximately HK$1,145.9 million, a decrease of approximately 15.7% from approximately HK$1,360.1 million as at December 31, 2019[158]. - The Group had net current liabilities of approximately HK$388.8 million as of June 30, 2020, compared to net current assets of approximately HK$1,291.4 million as of December 31, 2019[185]. Cash Flow - Cash and cash equivalents decreased to HK$1,033,533,000 from HK$1,237,219,000, reflecting cash flow pressures[23]. - Cash generated from operations dropped significantly to HK$18,649,000 from HK$175,127,000 in the previous period[31]. - Net cash flows generated from operating activities decreased to HK$17,413,000 compared to HK$173,447,000 in the prior year[31]. - The Group's cash flow from operating activities reflects the impact of the COVID-19 pandemic on its financial performance[36]. - Cash and cash equivalents at the end of the period were HK$1,033,533,000, down from HK$1,238,331,000 in 2019[33]. Dividends and Shareholder Returns - The interim dividend declaration is included, indicating the company's commitment to returning value to shareholders[4]. - The Board does not recommend the payment of an interim dividend for the period, consistent with the previous year[150]. - The Group did not recommend the payment of any dividends for the period, similar to the previous year[61]. Compliance and Governance - The interim financial information for the six-month period ended June 30, 2020, has been reviewed and is in compliance with HKAS 34[12]. - The report emphasizes the importance of compliance with the relevant provisions of the Hong Kong Stock Exchange listing rules[12]. - The review was conducted in accordance with Hong Kong Standard on Review Engagements, ensuring a thorough evaluation of financial data[16]. - The conclusion of the review indicates no significant issues were identified that would affect the preparation of the interim financial information[17]. Strategic Insights - The management discussion and analysis section provides insights into the Group's performance and strategic direction[4]. - The company has plans for market expansion and new product development, although specific details were not disclosed in the report[29]. - The Group's financial support commitment from a shareholder owning approximately 5.54% of the issued share capital is expected to help meet liabilities in the foreseeable future[38]. Operational Highlights - The Group's investment activities included an acquisition of an associate for HK$8,075,000 during the reporting period[33]. - The Group completed the acquisition of additional equity interest in Beijing Chemical Reaction Engineering Science & Technology Co., Limited, increasing its stake to 37.125%[167]. - The Group shared a loss of approximately HK$2.5 million from an investment in an associate, which was still in the construction phase during the period[152]. Taxation - The provision for Hong Kong profits tax was calculated at a rate of 16.5% on estimated assessable profits, consistent with the previous year[57]. - The Group's Luxembourg current income tax was calculated at a rate of 29.22%, also unchanged from the previous year[60]. - No provision for Mainland China current income tax was made, as the Group did not have any assessable profit arising in Mainland China[59]. Employee and Management Compensation - Total compensation paid to key management personnel during the Period was HK$1,998,000, unchanged from the previous year[111]. - The Group had 7 employees as of June 30, 2020, with remuneration policies regularly reviewed to align with market levels[194].

Financial Overview - The interim financial information includes the condensed consolidated statement of financial position as of June 30, 2019, and related profit or loss, comprehensive income, changes in equity, and cash flows for the six-month period [12]. - The financial report covers the period ending June 30, 2019, providing insights into the company's performance during this timeframe [14]. - The report indicates that the directors are responsible for the preparation and presentation of the interim financial information [12]. - The company is required to prepare interim financial information in compliance with Hong Kong Accounting Standard 34, ensuring accuracy and adherence to regulatory standards [14]. - The report is prepared in accordance with the relevant provisions of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited [12]. Audit and Governance - The audit committee, chaired by Mr. Tam Sun Wing, oversees the financial reporting process, ensuring transparency and accountability [7]. - Ernst & Young serves as the auditors for the company, providing an external review of the financial statements [10]. - The company’s registered office is located in Bermuda, with a principal office in Hong Kong, indicating its operational footprint [10]. Revenue and Profitability - Revenue for the six months ended June 30, 2019, was HK$111,126,000, a decrease of 20.7% compared to HK$140,072,000 in the same period of 2018 [17]. - Gross profit for the same period was HK$15,851,000, down 46.6% from HK$29,646,000 in 2018 [17]. - Loss before tax from continuing operations was HK$16,260,000, compared to a loss of HK$7,181,000 in the previous year, representing a 126.1% increase in loss [17]. - Loss for the period from continuing operations was HK$14,672,000, compared to a loss of HK$6,157,000 in 2018, indicating a 138.5% increase in loss [17]. - Basic and diluted loss per share attributable to ordinary equity holders was HK0.11 cents, compared to earnings of HK2.60 cents in the same period of 2018 [20]. - Total comprehensive loss for the period was HK$21,804,000, compared to total comprehensive income of HK$300,966,000 in 2018 [22]. Expenses and Costs - Administrative expenses decreased to HK$17,116,000 from HK$19,845,000, a reduction of 13.7% [17]. - Finance costs decreased slightly to HK$23,413,000 from HK$24,911,000, a decrease of 6.0% [17]. - The company reported an income tax credit of HK$1,588,000 for the period, compared to HK$1,024,000 in 2018, an increase of 55.1% [17]. Assets and Liabilities - Total assets as of June 30, 2019, amounted to HK$4,338,313,000, slightly down from HK$4,339,175,000 as of December 31, 2018 [24]. - Current assets increased to HK$1,388,110,000 from HK$1,379,254,000, with cash and cash equivalents rising to HK$1,238,331,000 from HK$1,097,590,000 [24]. - Trade receivables surged to HK$45,047,000, up from HK$20,609,000, indicating a significant increase in sales or credit terms [24]. - Total non-current assets decreased to HK$2,950,203,000 from HK$2,959,921,000, primarily due to a reduction in property, plant, and equipment [24]. - Net current liabilities improved slightly to HK$220,828,000 from HK$223,758,000, reflecting better liquidity management [24]. - Total equity as of June 30, 2019, was HK$2,474,223,000, down from HK$2,496,027,000, indicating a decrease in retained earnings [28]. - Non-current liabilities increased to HK$255,152,000 from HK$240,136,000, primarily due to the addition of lease liabilities [28]. Cash Flow and Financing - The net cash flows generated from operating activities for the six months ended June 30, 2019, were HK$173,447,000, compared to a cash outflow of HK$102,341,000 in the same period of 2018 [38]. - Cash generated from operations was HK$175,127,000, a significant improvement from the cash used in operations of HK$101,850,000 in the previous year [35]. - The total cash and cash equivalents at the end of the period increased to HK$1,238,331,000, up from HK$1,173,805,000 at the end of the same period in 2018 [38]. - The company incurred finance costs of HK$23,413,000, slightly down from HK$24,911,000 in the previous year [35]. - The net cash flows used in investing activities amounted to HK$4,411,000, a decrease from the cash inflow of HK$792,702,000 in the same period of 2018 [38]. Segment Performance - For the six months ended June 30, 2019, the Group's revenue from hotel operations was HK$108,462,000, a decrease of 20.8% from HK$136,793,000 in the same period of 2018 [54]. - The money lending segment generated revenue of HK$2,664,000, down from HK$3,279,000, representing a decline of 18.7% year-over-year [54]. - The hotel operation segment reported a loss of HK$17,717,000, while the money lending segment achieved a profit of HK$2,345,000, leading to a total segment loss of HK$15,372,000 [54]. Share Options and Capital - The Group's issued and fully paid ordinary shares remained at 12,778,880,000 as of 30 June 2019, with a share capital of HK$1,277,888,000 [149]. - The maximum number of shares that may be issued upon exercise of all outstanding options under the 2012 Option Scheme shall not exceed 30% of the shares in issue at any time [151]. - The exercise price for shares under the 2012 Option Scheme will not be lower than the highest of the closing price on the date of offer, the average closing price for the five trading days preceding the grant, or the nominal value of a share on the date of grant [151]. - The total number of options granted to directors and employees as of January 1, 2019, was 144,780 [154]. - The exercise price for the share options was set at HK$0.100 per share, with no options exercised during the reporting period [161]. Discontinued Operations - Profit from discontinued operations for the six months ended June 30, 2018, was HK$338,629,000 [95]. - The company completed the disposal of its hotel business on June 20, 2018 [96]. - The company reported a gain on the disposal of subsidiaries amounting to HK$335,570,000 [97]. Related Party Transactions - There were no material transactions with related parties during the period ended June 30, 2019 [171]. - The remuneration of key management personnel for the six months ended June 30, 2019, was disclosed but specific figures were not provided in the extracted content [174].