Financial Performance - The company recorded revenue of approximately HKD 342.7 million for the year ended December 31, 2019, a decrease of about 1.7% compared to HKD 348.8 million in 2018[11]. - The loss for the year ended December 31, 2019, was HKD 199.1 million, a reduction of 21.6% from a loss of HKD 254 million in 2018[12]. - Revenue from the QR code business was HKD 69.7 million for the year ended December 31, 2019, down from HKD 73.4 million in 2018, with a slight increase in segment loss of 2%[19]. - The packaging products business generated revenue of HKD 260.3 million, a decrease of 5.8% from HKD 276.2 million in 2018, but segment profit increased by 144% to HKD 20.5 million due to cost control measures[20]. - The company reported a fair value gain of HKD 10.1 million on financial assets measured at fair value through profit or loss, compared to a loss of HKD 1.3 million in the previous year[20]. Cash and Debt Management - As of December 31, 2019, the company held cash reserves of HKD 40.5 million, down from HKD 97.5 million in 2018[21]. - The debt-to-equity ratio was 0.36 as of December 31, 2019, compared to 0.17 in 2018, indicating increased leverage[21]. - The company issued convertible bonds totaling $40,000,000, with proceeds of approximately $39,671,000 (equivalent to HKD 309,439,000) allocated for the development of its subsidiary, Shanghai Touyun IoT Technology Co., Ltd.[24]. - As of December 31, 2019, the outstanding amount of convertible bonds was $28,800,000 (equivalent to HKD 225,236,000), which had matured on November 10, 2019, and the company received requests for repayment from bondholders.[26]. - The company repaid $6,000,000 in principal and $587,000 in interest on the convertible bonds after December 31, 2019, leaving an outstanding principal of $20,580,000 (equivalent to HKD 160,524,000) as of the report date.[26]. Business Strategy and Market Focus - The company plans to continue focusing on QR code and packaging solutions to meet growing customer demands[13]. - The QR code business faced challenges due to increased competition and the impact of COVID-19 on various industries in China[19]. - The company aims to explore more business opportunities and provide comprehensive services to adapt to market changes[13]. - The company is focused on expanding its market presence through strategic partnerships and acquisitions in relevant sectors[82]. Investments and Asset Management - As of December 31, 2019, the group held listed investments, unlisted investments, and investments in an associate amounting to approximately HKD 158,800,000, HKD 249,000,000, and HKD 209,200,000 respectively[43]. - The fair value of investments as of December 31, 2019, was reported at HKD 249,002,000[43]. - The company plans to diversify its investment portfolio to seek potential investments for generating investment income amid uncertain market conditions[78]. - The company has a significant investment in Hengda Health Industry Group, holding 740,000 shares, which represents 0.01% ownership, with a loss of HKD 919,000 reported[58]. Corporate Governance and Management - The board of directors is committed to ensuring effective governance and high operational standards within the company[90]. - The board consists of three executive directors, one non-executive director, and three independent non-executive directors[6]. - The company emphasizes the separation of roles between the chairman and the CEO to avoid power concentration[140]. - The company has established an executive committee composed of all executive directors to oversee management and daily operations[144]. Employee and Community Engagement - The company employed approximately 613 employees as of December 31, 2019, a decrease from 876 employees in 2018, with compensation policies based on performance and qualifications[35]. - The company is committed to providing a safe working environment and career growth opportunities for employees, which is essential for sustainable business development[185]. - The company donated 5,000 RMB to the Zhongshan Red Cross, reflecting its commitment to community investment[196]. Risk Management and Compliance - The company has maintained an effective risk management and internal control system to safeguard assets and ensure the reliability of financial data[178]. - The internal audit function has not identified any significant internal control deficiencies during the review of the risk management and internal control systems[179]. - The company has adopted an insider information disclosure policy to ensure compliance with legal and regulatory obligations[186]. Research and Development - The company has been involved in the development and application of nearly 40 patents in the field of IoT and various sensors[86]. - The company has a dedicated team for research and development of new technologies to enhance its service offerings[86].

Financial Performance - The company reported a loss attributable to shareholders of HKD 71 million for the six months ended June 30, 2019, a decrease of 14.25% compared to a loss of HKD 82.8 million for the same period in 2018[8]. - The group reported a net loss attributable to shareholders of HKD 70,955,000 for the six months ended June 30, 2019, compared to a loss of HKD 82,838,000 in the same period of 2018[180]. - The group reported a net loss of HKD 68,877,000 for the six months ended June 30, 2019, compared to a loss of HKD 83,100,000 for the same period in 2018, representing a 17.2% improvement in losses[76]. - Total comprehensive loss for the period was HKD 71,079,000, a decrease from HKD 75,517,000 in the previous year, indicating a 5.9% reduction in overall losses[76]. - The group’s net profit before tax for the six months ended June 30, 2019, was HKD (67,672,000), compared to HKD (83,051,000) in the same period of 2018, indicating an improvement in financial performance[157]. Revenue and Profitability - Revenue for the six months ended June 30, 2019, was approximately HKD 161.7 million, a slight decrease of about 0.3% from HKD 162.2 million in the same period of 2018[8]. - The group's total revenue for the six months ended June 30, 2019, was HKD 161,697,000, a slight decrease from HKD 162,182,000 in the same period of 2018[157]. - Revenue from the packaging products segment increased to HKD 131,559,000 in 2019, compared to HKD 124,772,000 in 2018, reflecting a growth of approximately 5.6%[161]. - The QR code services segment generated revenue of HKD 28,364,000, down from HKD 36,304,000 in 2018, indicating a decline of about 21.9%[165]. - The financial investment segment reported a significant increase in revenue to HKD 21,020,000 in 2019, compared to a loss of HKD 2,643,000 in 2018[165]. Cost Management and Expenses - The overall gross profit margin improved to 31.1% for the six months ended June 30, 2019, compared to 29.3% for the same period in 2018, primarily due to reduced operating costs[8]. - Administrative expenses decreased to HKD (79,586) thousand from HKD (108,790) thousand in the previous year, indicating improved cost management[73]. - The group’s financial costs for the six months ended June 30, 2019, were HKD 11,155,000, compared to HKD 19,671,000 in the previous year, showing a reduction in financial expenses[157]. - Interest paid decreased to HKD 7,371,000 from HKD 11,226,000, a reduction of 34.5%, indicating improved interest management[90]. Assets and Liabilities - The company's total assets as of June 30, 2019, amounted to HKD 630,559,000, an increase from HKD 609,032,000 at the end of 2018, reflecting a growth of 3.9%[79]. - Current liabilities totaled HKD 324,510,000, slightly up from HKD 316,414,000 at the end of 2018, showing a 2.5% increase[79]. - The equity attributable to the owners of the company decreased to HKD 668,372,000 from HKD 726,792,000, a decline of 8.0%[82]. - The company's cash and cash equivalents were reported at HKD 51,008,000, down from HKD 97,513,000, a decrease of 47.8%[79]. - The net current assets decreased to HKD 54,324,000 from HKD 118,258,000, a decline of 54.0%[79]. Investments and Acquisitions - The company raised a net amount of HKD 406,100,000 from a share placement in November 2016, with HKD 263,400,000 used to redeem acceptance notes[37]. - A total of HKD 142,700,000 was allocated for expanding and developing the QR code business, with HKD 63,000,000 already fully utilized for acquisitions[43]. - The company completed the acquisition of a subsidiary in March 2017, which was funded with HKD 63,000,000[43]. - The group held significant investments in listed investments, unlisted investments, and joint ventures amounting to approximately HKD 104.3 million, HKD 256.1 million, and HKD 193.5 million respectively[56]. Shareholder Information - The company did not recommend any interim dividend for the six months ended June 30, 2019, consistent with the same period in 2018[22]. - As of June 30, 2019, the company had a total of 2,246,000,000 shares held by Mr. Wang Liang, representing approximately 22.92% of the issued shares[31]. - Ms. Qiao Yan Feng holds 600,000,000 shares through controlled entities, accounting for about 6.12% of the total shares[31]. Cash Flow and Financial Management - Operating cash flow for the six months ended June 30, 2019, was a net outflow of HKD 81,951,000, compared to a net outflow of HKD 76,712,000 in 2018, representing an increase of 3.2% in cash used[90]. - Cash flow from investing activities showed a net inflow of HKD 46,601,000 for the six months ended June 30, 2019, compared to a net outflow of HKD 16,796,000 in 2018, indicating a significant improvement in investment cash flow[90]. - The company reported a decrease in cash and cash equivalents, with a net decrease of HKD 43,635,000 for the period, compared to a net decrease of HKD 95,982,000 in the previous year, reflecting a 54.5% reduction in cash outflow[90]. - The company received HKD 100,000,000 from the redemption of receivables during the investment activities, which was not reported in the previous year[90]. Lease and Compliance - As of January 1, 2019, the company recognized lease liabilities of HKD 17,092,000 and right-of-use assets of HKD 16,281,000[129]. - The company confirmed that any differences arising from the initial application of HKFRS 16 will be recognized in the opening balance of equity without restating comparative information[126]. - The company will apply a single discount rate to a portfolio of leases with similar asset types and economic environments[128]. Trade Receivables and Payables - Trade receivables, net of impairment losses, were HKD 64,515,000 as of June 30, 2019, up from HKD 61,804,000 as of December 31, 2018, indicating a growth of about 4.5%[191]. - The aging analysis of trade receivables showed that amounts overdue by more than 3 months increased to HKD 15,039,000 from HKD 7,345,000, representing a significant rise of approximately 104.5%[192]. - Trade payables totaled HKD 38,656,000 as of June 30, 2019, down from HKD 42,121,000 as of December 31, 2018, reflecting a decrease of about 8.8%[198]. - Other payables and accrued liabilities increased to HKD 24,212,000 as of June 30, 2019, compared to HKD 17,883,000 as of December 31, 2018, marking an increase of approximately 35.4%[199].

Financial Performance - The company recorded revenue of approximately HKD 350.1 million for the year ended December 31, 2018, a decrease of about 12% compared to HKD 397.9 million in 2017[7]. - The net loss for the fiscal year 2018 was HKD 253.9 million, slightly increasing by 0.28% from HKD 253.2 million in 2017[11]. - Revenue from the QR code business was HKD 73.4 million, down from HKD 78.8 million in 2017, with a segment loss of HKD 195.7 million, an increase of 24.1% compared to HKD 157.7 million in 2017[11]. - The packaging products business generated revenue of HKD 276.2 million, a decrease of 13.3% from HKD 318.7 million in 2017, with a segment profit of HKD 8.4 million, down 67.6% from HKD 25.9 million in 2017[12]. - The company reported a total revenue for the year ending December 31, 2018, with significant contributions from its main business segments, including QR code solutions and online advertising services[60]. - The top five customers accounted for 45.1% of the total revenue, with the largest customer contributing 13%[74]. Cash and Debt Management - The company held cash reserves of HKD 97.5 million as of December 31, 2018, a significant decrease from HKD 348.7 million in 2017[13]. - The company had outstanding convertible bonds amounting to HKD 219.5 million as of December 31, 2018, down from HKD 298.6 million in 2017, with a 7% annual interest rate[13]. - The company raised net proceeds of HKD 406,100,000 from share placements, with HKD 263,400,000 used to redeem promissory notes[29]. - The company issued USD 40,000,000 convertible bonds, raising net proceeds of USD 39,600,000 (approximately HKD 309,400,000)[32]. Investment and Assets - The company had investments valued at approximately HKD 24,300,000 in listed equity and HKD 391,900,000 in unlisted equity as of December 31, 2018[36]. - The company holds 50,000,000 shares of Wei Huada Holdings Limited (622), representing 0.86% ownership as of December 31, 2018[38]. - The fair value of the investment in Wei Huada is HKD 24,250,000, compared to HKD 14,250,000 as of December 31, 2017, indicating a significant increase[38]. - The investment cost for the shares in Wei Huada is HKD 47,668,000, reflecting a loss of HKD 1,307,000 for the year ended December 31, 2018[38]. Business Strategy and Development - The company plans to focus on the development of QR code solutions and store management systems, anticipating significant revenue growth from these technologies[7]. - The company aims to explore more business opportunities to provide comprehensive services to meet the growing demands of customers[7]. - The company is focused on expanding its market presence through new product development and technological solutions[54]. - The company aims to leverage its expertise in IoT and sensor technology to drive future growth[54]. Corporate Governance - The board of directors is committed to ensuring efficient operations and high governance standards[49]. - The company has maintained compliance with the corporate governance code as per the listing rules, with minor deviations noted[106]. - The board is collectively responsible for formulating the overall strategy and policies of the group, approving business plans, and monitoring management performance[109]. - The company has adopted a board diversity policy, considering factors such as gender, age, cultural background, and professional experience in selecting candidates[131]. Risk Management - The company monitored currency risks closely, with revenues primarily denominated in USD and RMB, while expenses were mainly in HKD and RMB[23]. - The company faces risks from unstable consumer markets and rising labor costs in mainland China[158]. - The company is subject to various financial risks, including market, foreign exchange, credit, liquidity, and capital risks[158]. - The company has maintained compliance with corporate governance codes regarding risk management and internal controls[157]. Employee and Operational Information - The company employed approximately 876 employees as of December 31, 2018, down from 972 in 2017[26]. - The company has maintained a policy to balance cash reserves for operational needs and future growth when considering dividend distributions[73]. - The group emphasizes the importance of employee health, safety, and well-being as part of its commitment to sustainable development[161]. Environmental and Energy Management - The total energy consumption of the group for the year was 4,719 GJ, with an energy consumption density of 13.48 GJ per HKD 1 million in revenue[196]. - The total energy consumption decreased by approximately 47% compared to the previous year due to the relocation of the Zhongshan factory to a smaller facility without employee dormitories[199]. - The group actively promotes energy-saving measures, encouraging employees to turn off unused energy switches and maintain equipment to extend its lifespan[199]. - The group has implemented environmental management measures to reduce the environmental impact of operations, focusing on resource consumption and waste management[192].