港股中国碳中和涨幅扩大至64%。此前，该公司宣布耿志远于近日增持合共1000万股公司普通股股份， 占公司已发行股份约1.56%。 ...

Revenue and Profitability - Revenue for the six months ended December 31, 2024, was HK$307,757,000, representing a 55.8% increase from HK$197,513,000 for the same period in 2023[4] - Gross profit increased to HK$25,205,000, up 54.3% from HK$16,339,000 year-over-year[4] - The company recorded a loss for the period of HK$26,256,000 for the six months ended December 31, 2024[13] - The loss attributable to owners of the Company decreased to approximately HK$26.3 million in 1H2024 from approximately HK$36.3 million in 1H2023, primarily due to a reduction in imputed interest on convertible bonds by HK$8.4 million[161] - Basic and diluted loss per share improved to HK$0.049, compared to HK$0.099 for the same period last year[8] Expenses and Costs - Loss before tax improved to HK$27,268,000, a reduction of 26.0% compared to a loss of HK$36,835,000 in the previous period[4] - Research and development costs rose to HK$9,035,000, an increase of 174.5% from HK$3,287,000 in the prior period[4] - Total comprehensive expense for the period was HK$29,289,000, down 25.6% from HK$39,345,000 in the previous period[6] - The Group's employee benefit expense (excluding directors' remuneration) decreased to HK$14,424,000 from HK$17,696,000[61] - The Group's financial costs decreased to HK$14,852,000 for the six months ended December 31, 2024, from HK$23,084,000 in the prior period[59] Assets and Liabilities - Total non-current assets decreased to HK$59,857,000 from HK$67,511,000 as of June 30, 2024[10] - Current assets increased to HK$316,667,000, up from HK$296,745,000 as of June 30, 2024[10] - Net current liabilities increased to HK$58,785,000 from HK$34,563,000 as of June 30, 2024[10] - Cash and cash equivalents decreased to HK$118,981,000 from HK$138,125,000 as of June 30, 2024[10] - The net liabilities reported as of December 31, 2024, were HK$(30,687,000), compared to HK$(1,398,000) as of June 30, 2024, indicating a significant increase in deficit[11] Segment Performance - The global carbon neutral segment generated revenue of HK$2,739,000, while the civil engineering and construction segment contributed HK$287,466,000, indicating a strong performance in construction services[43] - The battery cascading utilization business segment reported revenue of HK$12,211,000, marking the introduction of new services in waste battery trading[50] - The segment results for the global carbon neutral segment showed a loss of HK$15,340,000, while the civil engineering segment achieved a profit of HK$6,064,000, highlighting varied performance across segments[43] Financial Management and Strategy - The Group plans to continue developing carbon credit assets from existing projects and identify new carbon projects to enhance its carbon credit asset portfolio[30] - The directors believe there will be sufficient financial resources available to meet liabilities as they fall due[32] - The Group aims to improve its gearing by repaying other borrowings to reduce long-term finance costs[30] - The Group's strategy includes holding investments in equity instruments for medium to long-term purposes, rather than for trading, as reflected in the designation of these investments as FVTOCI[78] Carbon Neutral Initiatives - The company is focusing on carbon neutrality initiatives, aligning with market trends towards sustainability[14] - The Group is developing a "Dual Carbon Digital Management and Control Platform" to enhance transparency and efficiency in carbon-neutral development, integrating advanced security technologies and big data analysis[174] - The Group aims to expand its carbon asset development and management business, focusing on carbon trading, carbon options, and futures, to enhance its market presence[173] - The Group successfully launched a carbon-neutral digital platform, enhancing capabilities in carbon accounting, trading, planning, and consulting, contributing to revenue growth through government procurement contracts[178] Construction and Engineering - Revenue from the Civil Engineering and Construction Business reached HK$287.5 million, up from HK$194.2 million in the previous period, with a gross profit margin of 7.4%[191] - The Civil Engineering and Construction Business generated revenue of HK$287.5 million for the period, up from HK$194.2 million for the same period last year, representing a growth of approximately 48.1%[193] - The Group was awarded 2 new substantial contracts during the period, including civil engineering works for public housing development projects and improvement works at specific estates[198] - The Group emphasizes sustainable construction principles and has achieved ISO 14001 certification for its environmental management system[193]

Financial Performance - Revenue for the six months ended December 31, 2024, was HKD 307,757,000, representing a 55.8% increase from HKD 197,513,000 for the same period in 2023[4] - Gross profit for the same period was HKD 25,205,000, up 54.3% from HKD 16,339,000 year-over-year[4] - The company reported a loss before tax of HKD 27,268,000, an improvement from a loss of HKD 36,835,000 in the previous year, indicating a 26.0% reduction in losses[4] - The company reported a net loss of approximately HKD 27,268,000 for the six months ended December 31, 2024[24] - The basic loss attributable to the company's owners for the six months ended December 31, 2024, was HKD 26,256,000, compared to HKD 36,294,000 for the six months ended June 30, 2023[44] - The group incurred a pre-tax loss of HKD 27,268,000 for the six months ended December 31, 2024, compared to a loss of HKD 36,835,000 for the same period in 2023, indicating an improvement in financial performance[40] Expenses and Costs - Research and development costs increased to HKD 9,035,000, compared to HKD 3,287,000 in the prior period, reflecting a 174.5% rise[4] - Total comprehensive expenses for the period amounted to HKD 29,289,000, down from HKD 39,345,000, showing a 25.6% decrease[4] - The group’s total financial costs, excluding lease liabilities, decreased to HKD 14,852,000 for the six months ended December 31, 2024, down from HKD 23,084,000 in the previous year[37] Assets and Liabilities - The company’s cash and cash equivalents were HKD 118,981,000 as of December 31, 2024, down from HKD 138,125,000 at the end of June 2024[9] - Current liabilities increased to HKD 375,452,000 from HKD 331,308,000, representing a 13.3% rise[9] - Non-current assets totaled HKD 59,857,000, down from HKD 67,511,000, indicating a 11.5% decrease[9] - The company’s equity attributable to owners was a loss of HKD 26,154,000 as of December 31, 2024, compared to a gain of HKD 2,176,000 in the previous period[10] - As of December 31, 2024, the company's net liabilities amounted to approximately HKD 30,687,000[24] - The total amount of convertible bonds was HKD 181,944,000 as of December 31, 2024, which includes both the liability and equity portions[55] Cash Flow - The net cash flow from operating activities for the six months ended December 31, 2024, was HKD 4,705,000, compared to HKD 11,786,000 for the same period in 2023[17] - The company experienced a net cash outflow from investing activities of HKD 18,230,000 for the six months ended December 31, 2024[17] - The cash and cash equivalents at the end of the reporting period were HKD 118,981,000, a decrease from HKD 76,595,000 in the previous year[17] Business Operations - The company is engaged in carbon credit trading and carbon asset management, focusing on carbon neutrality initiatives[22] - The group’s carbon neutral division generated revenue of HKD 2,739,000, while the civil engineering and construction division contributed HKD 287,466,000 in revenue[29] - The company has successfully launched the "Green Credit Chain" platform, which integrates 24 methodologies covering all carbon emission industries, enhancing capabilities in carbon accounting, trading, and consultation[74] - The "Xunli Network" platform, focused on the lithium battery recycling industry, has officially launched, aiming to facilitate transactions and provide financial services to enhance productivity[75] - The company has expanded its old battery repurposing business, collaborating with major enterprises like China Tower and BYD, and is establishing a complete industry chain centered in Henan[76] Future Outlook - The company believes it has sufficient financial resources to meet its future financing needs and operational requirements[24] - The group plans to improve its debt ratio by repaying other borrowings, which will reduce long-term financial costs[25] - The company plans to collaborate with relevant institutions to attempt the securitization of carbon assets to facilitate sales[85] Compliance and Governance - The company has not adopted any new accounting standards that would significantly impact the interim financial statements[20] - The company has adopted a code of conduct for securities trading by directors, confirming compliance until December 31, 2024[98] - The audit committee consists of three members, including Mr. Cao Ming (Chairman), Mr. Wang Jiasi, and Ms. Qiao Yanlin, all of whom are independent non-executive directors[100]

Financial Performance - For the period from January 1, 2023, to June 30, 2024, the Group recorded consolidated revenue of approximately HK$959.1 million, representing an increase of approximately 35.2% compared to HK$709.3 million in the year ended December 31, 2022[80]. - The gross profit for the period amounted to approximately HK$49.9 million, an increase of approximately 17.4% from HK$42.5 million in the year 2022[80]. - Administrative and selling expenses for the period were approximately HK$102.3 million, reflecting an increase of approximately 19.0% compared to HK$86.0 million in the year 2022[81]. - The Group recorded a loss of approximately HK$137.3 million for the Period, a decrease of 31.0% compared to a loss of approximately HK$199.0 million in Year 2022[86]. - Finance costs increased by approximately HK$13.2 million or 22.3%, totaling approximately HK$72.6 million for the Period, compared to approximately HK$59.4 million in Year 2022[85]. Customer and Revenue Concentration - The largest customer accounted for approximately 30.0% of the Group's total revenues during the Period, up from approximately 28.5% in 2022[11]. - The five largest customers represented approximately 89.9% of the Group's total revenues for the Period, compared to approximately 89.3% in 2022[11]. - The Group's customer base in the Civil Engineering and Construction Business is concentrated among certain government departments, public utilities, and private organizations in Hong Kong[12]. Environmental Commitment - The Group is committed to environmental protection and has implemented green office practices, including reducing energy consumption and promoting the use of recycled materials[6]. - The Group will continue to review its environmental practices and consider implementing further eco-friendly measures[8]. - The Group's environmental management system has obtained ISO 14001 certification, emphasizing systematic resource utilization efficiency and emission control[99]. - The Group's projects prioritize the protection of biodiversity and sustainable development, aligning with its commitment to environmental responsibility[99]. Corporate Governance and Leadership Changes - The Company experienced non-compliance with corporate governance requirements due to the resignation of Independent Non-executive Directors, which was rectified upon their replacement[63]. - The Company has adopted the Corporate Governance Code and made necessary adjustments following the resignation and appointment of directors[63]. - The company has undergone leadership changes, with Ms. Chan Tan Na resigning as Chairman and Executive Director on February 20, 2023[185]. - The company is focused on carbon neutrality and has appointed Mr. Di Ling as the Chief Executive Officer effective April 12, 2024, to lead corporate strategies in this area[184]. - The ongoing restructuring of the board is expected to align with the company's long-term growth and sustainability goals[188][191][194]. Investments and Acquisitions - In March 2023, the Group acquired a 73% equity interest in China Carbon Green Credit Technology (Shenzhen) Company Limited, enhancing its capabilities in blockchain-based digital technology for carbon-neutral development[93]. - The Group completed the acquisition of 60% equity interest in Henan Zailiang New Energy Renewable Company Limited for HK$30,000,000 on March 18, 2024[162]. - The Group aims to increase carbon asset sources through partnerships with China Everbright Group and Sinochem Group, leveraging its strong carbon asset development and management team[121]. Employee and Operational Insights - Total employee benefits for the Group were approximately HK$108.4 million for the period, compared to approximately HK$96.6 million in 2022, reflecting a year-on-year increase of about 12.5%[168]. - The Group had 309 employees as of June 30, 2024, a decrease from 329 employees as of December 31, 2022[168]. - The Group's operations are subject to various risks, including market price fluctuations and industry-specific risks related to carbon credits and regulatory changes[150][151]. Future Plans and Strategic Focus - The Group plans to invest more resources in the New Energy and Renewable Energy business segments to enhance growth and sustainability[109]. - The Group aims to achieve negative carbon emissions of 100 million tonnes through nature-based and technology-based solutions, targeting a 2% reduction in China's carbon dioxide emissions[92]. - The Group plans to leverage national consumption promotion policies to gain significant market share in the two-wheeled electric vehicle sector through trade-in programs[129]. Share Capital and Financial Position - As of June 30, 2024, the total issued share capital of the Company is 535,800,000 shares[38]. - The Company increased its authorized share capital from HK$5,000,000 to HK$100,000,000 by creating an additional 9,500,000,000 shares on October 11, 2023[131]. - The Group's net current liabilities and net liabilities as of June 30, 2024, amounted to HK$34.6 million and HK$1.4 million, representing a decrease of HK$158.7 million and HK$48.3 million compared to December 31, 2022[130].

Financial Performance - Total revenue for the period from January 1, 2023, to June 30, 2024, reached HKD 959,084,000, compared to HKD 709,306,000 for the previous year, representing an increase of approximately 35.2%[1] - Gross profit for the same period was HKD 49,905,000, up from HKD 42,506,000, indicating a growth of about 17.8%[2] - The company reported a net loss of HKD 137,338,000 for the current period, compared to a net loss of HKD 199,038,000 in the previous year, reflecting a reduction in losses by approximately 30.9%[3] - The loss attributable to owners of the company, after excluding one-off non-operating items, was HKD 132,345,000, compared to HKD 124,471,000, reflecting an increase of about 6.3%[3] - The company reported a loss of HKD 137,338,000 for the period ending June 30, 2024, compared to a loss of HKD 199,038,000 for the same period in 2023, representing a 30.9% improvement in losses[4] - The basic and diluted loss per share for the current period was HKD (28.90), compared to HKD (63.0) for the previous year, indicating a significant reduction in loss per share[5] - The total comprehensive expenses for the period were HKD 143,823,000, down from HKD 210,859,000, reflecting a decrease of 31.8%[4] Expenses and Liabilities - Research and development expenses increased to HKD 12,019,000 from HKD 4,018,000, marking a rise of about 199.5%[2] - Administrative and selling expenses rose to HKD 102,279,000, compared to HKD 86,014,000, which is an increase of approximately 18.9%[2] - The company incurred financial expenses of HKD 72,647,000, compared to HKD 59,420,000, indicating an increase of approximately 22.2%[2] - Total liabilities increased to HKD 331,308,000 from HKD 156,908,000, representing a rise of 111.1%[7] - The group has a contingent liability of HKD 16.8 million as of June 30, 2024, down from HKD 31.8 million in the previous year[41] Assets and Equity - Total non-current assets increased to HKD 67,511,000 as of June 30, 2024, from HKD 33,514,000 in the previous year, reflecting a growth of 101.5%[6] - Current assets totaled HKD 296,745,000, up from HKD 281,024,000 year-over-year, showing an increase of 5.5%[6] - The company’s cash and cash equivalents rose to HKD 138,125,000, compared to HKD 76,117,000 in the previous year, marking an increase of 81.5%[6] - The company’s equity attributable to owners was HKD 2,176,000, compared to a loss of HKD 49,146,000 in the previous year, indicating a recovery in equity[7] Segment Performance - The group reported segment revenue of HKD 4,141,000 for the Global Carbon Neutral segment for the period from January 1, 2023, to June 30, 2024[16] - The group recorded a segment loss of HKD (61,905,000) for the Global Carbon Neutral segment during the same period[16] - The Civil Engineering and Construction segment generated revenue of HKD 500,128,000 for the period from January 1, 2023, to June 30, 2024[16] - The group reported a segment profit of HKD 4,223,000 for the Civil Engineering and Construction segment[16] Strategic Focus and Future Outlook - The company has emphasized its commitment to expanding its carbon neutrality business and enhancing its digital technology services[1] - Future outlook includes a focus on new product development and market expansion strategies to drive growth[1] - The group plans to continue developing existing carbon credit assets and explore new carbon projects to ensure a steady supply of carbon credits[10] - The group aims to monitor and control administrative costs and future capital expenditures carefully[10] - The group is focusing on global carbon neutrality business, including carbon credit asset trading and development, and plans to collaborate with Qidi Industrial Park in the new energy sector[44] Acquisitions and Investments - The company acquired 73% of Shenzhen Jianxin Building and Technology Co., Ltd. for HKD 19,686,000, which will be renamed Zhong Carbon Green Technology (Shenzhen) Co., Ltd. after the merger on April 7, 2024[37] - The company also purchased 60% of Henan Zailiang New Energy Recycling Co., Ltd. for HKD 30,000,000, which is approved by the Ministry of Industry and Information Technology of China for lithium battery recycling[37] - The group has completed the cash acquisition of 60% of Henan Zailiang New Energy, a lithium battery recycling company approved by the Ministry of Industry and Information Technology of China[55] Corporate Governance and Compliance - The group has maintained a high level of corporate governance to protect shareholder rights and enhance corporate value[64] - The audit committee currently consists of three independent non-executive directors, ensuring compliance with listing rules[67] - The financial statements have been prepared based on the Hong Kong Financial Reporting Standards and cover an 18-month period[9] Environmental Initiatives - The group successfully registered the first fertilizer carbon reduction project on the VCS platform in Huoqiu County, achieving an annual reduction of 76,000 tons of CO2 equivalent over a ten-year period, totaling 760,000 tons[47] - The waste incineration power generation project in Yingkou registered on the VCS platform, with an annual reduction of 245,000 tons of CO2 equivalent, totaling 5.145 million tons over a 21-year period[47] - The biogas recovery project in Henan Wei Hang registered on the VCS platform, achieving an annual reduction of 37,500 tons of CO2 equivalent, with a total reduction of 265,000 tons over the first seven years[47] - The group aims to reduce 2% of China's CO2 emissions, targeting a total of 100 million tons of negative carbon emissions through natural and technological solutions[48]

Financial Performance - Total revenue for the period from January 1, 2023, to June 30, 2024, reached HKD 959,084,000, compared to HKD 709,306,000 for the previous year, representing an increase of approximately 35.2%[1] - Gross profit for the same period was HKD 49,905,000, up from HKD 42,506,000, indicating a growth of about 17.8%[2] - The company reported a net loss of HKD 137,338,000 for the current period, compared to a net loss of HKD 199,038,000 in the previous year, reflecting a reduction in losses of approximately 30.9%[3] - The basic and diluted loss per share for the current period was HKD (28.90), compared to HKD (63.0) for the previous year, indicating a significant reduction in loss per share[5] - The group reported a loss of approximately HKD 137.3 million for the period, a decrease of about 31.0% from a loss of HKD 199.0 million in the previous year[46] Expenses and Liabilities - Research and development expenses increased to HKD 12,019,000 from HKD 4,018,000, marking a rise of about 199.5%[2] - Administrative and selling expenses rose to HKD 102,279,000, compared to HKD 86,014,000, which is an increase of approximately 18.9%[2] - The company incurred financial expenses of HKD 72,647,000, up from HKD 59,420,000, indicating an increase of approximately 22.2%[2] - Total liabilities increased to HKD 331,308,000 from HKD 156,908,000, representing a growth of 111.0%[7] - The group’s financial expenses, excluding lease liabilities, amounted to HKD (70,876,000) for the reporting period[16] Assets and Equity - Total non-current assets increased to HKD 67,511,000 as of June 30, 2024, from HKD 33,514,000 in the previous year, reflecting a growth of 101.5%[6] - Current assets totaled HKD 296,745,000, up from HKD 281,024,000 year-over-year, showing an increase of 5.5%[6] - The company’s cash and cash equivalents rose to HKD 138,125,000 from HKD 76,117,000, marking an increase of 81.5%[6] - The company’s equity attributable to owners was HKD 2,176,000, compared to a loss of HKD (49,146,000) in the previous year, indicating a recovery in equity[7] Strategic Focus and Future Plans - The company plans to focus on expanding its carbon neutral business and enhancing its digital technology services in the upcoming fiscal year[1] - The management highlighted ongoing efforts in market expansion and potential mergers and acquisitions to strengthen its competitive position[1] - The company plans to continue developing existing carbon credit projects and seek new carbon projects to ensure a steady supply of carbon credits[10] - The company aims to improve operational efficiency and reduce non-operating expenses in the next financial period[4] - The group is focusing on global carbon neutrality business, including carbon credit asset trading and development, and plans to collaborate with Qidi Industrial Park for integrated business innovation in new energy[44] Acquisitions and Investments - The company acquired 73% of Shenzhen Jianxin Building and Technology Co., Ltd. for HKD 19,686,000, which will be renamed Zhong Carbon Green Technology (Shenzhen) Co., Ltd. after the merger on April 7, 2024[37] - The company also purchased 60% of Henan Zailiang New Energy Recycling Co., Ltd. for HKD 30,000,000, which is approved by the Ministry of Industry and Information Technology of China for lithium battery recycling[37] - The total purchase price for both acquisitions amounts to HKD 49,686,000, with cash payments of HKD 41,822,000[39] - The group has completed the cash acquisition of 60% equity in Henan Zai Liang New Energy, a lithium battery recycling company approved by the Ministry of Industry and Information Technology of China[55] Carbon Neutrality Initiatives - The company plans to continue exploring and developing carbon credit assets through various emission reduction projects, including biogas and solar energy initiatives[20] - The group aims to reduce 2% of China's CO2 emissions, targeting a total of 100 million tons of negative carbon emissions through natural and technological solutions[48] - The group successfully registered the first fertilizer carbon reduction project on the VCS platform in Huoqiu County, achieving an annual reduction of 76,000 tons of CO2 equivalent over a ten-year period, totaling 760,000 tons[47] - The waste incineration power generation project in Yingkou registered on the VCS platform, with an annual reduction of 245,000 tons of CO2 equivalent, totaling 5.145 million tons over a 21-year period[47] Corporate Governance and Compliance - The board does not recommend the payment of any final dividend for the current period[63] - The audit committee currently consists of three members, all of whom are independent non-executive directors, and has reviewed the group's accounting principles and policies[67] - The company emphasizes its commitment to transparency and compliance with regulatory requirements[69] - The financial statements have been prepared on a going concern basis, indicating the company's belief in its ability to meet future financial obligations[11]

Financial Performance - Revenue for the twelve months ended December 31, 2023, was HK$632,874,000, a decrease of 10.8% compared to HK$709,306,000 for the year ended December 31, 2022[4] - Gross profit for the same period was HK$35,721,000, down from HK$42,506,000, reflecting a gross margin decline[4] - Operating loss improved significantly to HK$11,346,000 from HK$129,667,000 in the previous year, indicating a reduction in operational inefficiencies[4] - Loss for the period attributable to owners of the Company was HK$8,787,000, a substantial decrease from HK$197,471,000 in the prior year[6] - Total comprehensive expense for the period was HK$17,168,000, compared to HK$210,859,000 for the previous year, showing a significant reduction in overall losses[8] - The Group reported a loss before tax of HK$11,309,000 for the twelve months ended December 31, 2023, compared to a loss of HK$204,316,000 in 2022[50] - The Group recorded a loss attributable to owners of the Company of approximately HK$8.8 million, a significant decrease of approximately 95.6% compared to a loss of HK$197.5 million in the previous year[180] Assets and Liabilities - Non-current assets increased to HK$45,784,000 from HK$33,514,000, indicating growth in long-term investments[10] - Current assets rose to HK$446,482,000, up from HK$281,024,000, driven by an increase in carbon-credit assets and cash equivalents[10] - Total assets increased to HK$492,266,000 as of December 31, 2023, from HK$314,538,000 in 2022, representing a growth of 56.5%[52] - Total liabilities slightly increased to HK$369,080,000 in 2023 from HK$364,307,000 in 2022[52] - Total non-current liabilities decreased from HK$207,399,000 in 2022 to HK$96,929,000 in 2023, a reduction of approximately 53.3%[12] - Net assets increased significantly from a deficit of HK$49,769,000 in 2022 to HK$123,186,000 in 2023, marking a turnaround of HK$172,955,000[12] Cash Flow and Liquidity - Cash and cash equivalents improved to HK$106,225,000 from HK$76,117,000, enhancing liquidity position[10] - For the twelve months ended December 31, 2023, the net cash flows generated from operating activities were HK$187,000, a significant decrease from HK$133,261,000 in the previous year[20] - Cash and cash equivalents at the end of the period increased to HK$106,225,000 from HK$77,612,000 in the previous year[20] - The net cash flows used in investing activities totaled HK$20,940,000, up from HK$3,901,000 in the previous year[20] Share Capital and Equity - The company's share capital rose from HK$3,205,000 in 2022 to HK$5,358,000 in 2023, reflecting an increase of 67.1%[12] - The total equity attributable to owners of the company increased from a deficit of HK$49,146,000 in 2022 to HK$126,946,000 in 2023, a significant improvement of HK$176,092,000[12] - The company issued new shares amounting to HK$49,645,000 during the year, enhancing its capital structure[15] - The company raised HK$15,000,000 from the issuance of 6,000,000 ordinary shares at HK$2.5 per share on April 4, 2023, increasing the issued share capital by HK$60,000 and share premium by HK$14,940,000[139] Research and Development - Research and development costs increased to HK$10,547,000 from HK$4,018,000, reflecting a commitment to innovation[4] Acquisitions and Investments - The Group acquired a 73% equity interest in Shenzhen Jianxin Zhuhe Technology Company Limited, contributing to the goodwill recognized in the financials[108] - The acquisition of subsidiaries resulted in a cash outflow of HK$19,408,000, indicating active expansion efforts[20] - The Group's acquisition of China Carbon Green Credit Technology Shenzhen Co., Ltd. in 2023 has enabled the use of blockchain technology to enhance its business momentum[186] Segment Performance - Segment revenue from the Global Carbon Neutral segment was HK$152,621,000 in 2023, down 27% from HK$209,178,000 in 2022[50] - Segment revenue from the Ecological Governance segment was HK$480,253,000 in 2023, a decrease of 3.9% from HK$500,128,000 in 2022[50] - The Group's adjusted profit before tax for the Global Carbon Neutral segment was HK$21,478,000 in 2023, compared to a loss of HK$30,789,000 in 2022[50] Financial Management - The Group's finance costs decreased to HK$34,636,000 for the twelve months ended December 31, 2023, down 41.7% from HK$59,420,000 in 2022[66] - The Group's corporate and unallocated expenses decreased to HK$5,645,000 in 2023 from HK$13,479,000 in 2022[50] - The Group will carefully monitor and control administrative and selling expenses as well as future capital expenditures[39] Market and Strategic Initiatives - The Group's focus remains on global carbon neutral business and ecological governance, with a unique market position in carbon credit asset development and management[171] - The European Parliament approved a Carbon Border Adjustment Mechanism (CBAM) in February 2023, which will trial in October 2023, impacting carbon emissions pricing for imported commodities[199] - The Group established a task force to help Chinese enterprises address the European carbon tariff mechanism, enhancing its international strategy in carbon neutrality[200]

Financial Performance - The company reported a total asset value of 446,482 thousand HKD for the year ending December 31, 2023, an increase of 59% from 281,024 thousand HKD in the previous year[11]. - The net current asset value increased to 174,331 thousand HKD, up from 124,116 thousand HKD, reflecting a growth of 40%[11]. - The company experienced a comprehensive loss of 17,168 thousand HKD for the year, a significant improvement compared to a loss of 210,859 thousand HKD in the previous year[22]. - The basic and diluted loss per share improved to 2.1 HKD cents from 63.0 HKD cents year-over-year[22]. - Total revenue for the twelve months ending December 31, 2023, was HKD 632,874,000, compared to HKD 709,306,000 for the previous year, reflecting a decrease of approximately 10.8%[44]. - The gross profit for the same period was HKD 35,721,000, down from HKD 42,506,000 year-over-year, indicating a decline of about 16.5%[44]. - The company recorded a net loss of approximately HKD 11,309,000 for the twelve months ending December 31, 2023, with net assets of about HKD 123,186,000[31]. - The operating loss for the twelve months was HKD 11,346,000, a significant improvement compared to HKD 129,667,000 in the previous year[44]. - The group reported a loss attributable to shareholders of approximately HKD 8.8 million, a significant reduction of about HKD 188.7 million or 95.6% compared to the previous year[156]. Asset and Liability Management - Non-current liabilities decreased significantly to 96,929 thousand HKD from 207,399 thousand HKD, indicating improved financial stability[12]. - The company reported cash and cash equivalents of 106,225 thousand HKD, an increase from 76,117 thousand HKD in the previous year, representing a growth of 39%[11]. - The total liabilities of the company slightly increased to HKD 369,080,000 in 2023 from HKD 364,307,000 in 2022[97]. - The outstanding principal of convertible bonds as of December 31, 2023, was HKD 93 million, with a maximum issuance of 46,500,000 shares upon conversion[69]. - The company recorded a significant decrease in interest expenses on convertible bonds, from HKD 46,552,000 in 2022 to HKD 30,461,000 in 2023[87]. - The company’s interest expenses on bank and other borrowings decreased significantly from HKD 2,511,000 in 2022 to HKD 172,000 in 2023[87]. Business Development and Strategy - The company acquired Green Credit Technology (Shenzhen) Co., Ltd., enhancing its blockchain technology capabilities and driving business growth[14]. - The company is focused on carbon credit asset trading and carbon neutrality-related business, positioning itself in a growing market[7]. - The company plans to continue developing existing carbon projects and seek new carbon projects to ensure a steady supply of carbon credit assets[32]. - The group aims to reduce China's CO2 emissions by 2% through its carbon-negative business, targeting a direct reduction contribution of 100 million tons from afforestation and another 100 million tons from commercial carbon capture, utilization, and storage projects[149]. - The group plans to collaborate with TUS Holdings and its subsidiaries to develop "zero-carbon" and "low-carbon" industrial parks, leveraging its dual-carbon digital control platform[162]. - The group is actively expanding its carbon asset development, operation, and management business, focusing on carbon credit asset development and management, carbon consulting, and carbon neutrality planning[157]. Employee and Operational Insights - As of December 31, 2023, the group had approximately 302 employees, with total employee costs amounting to HKD 88.4 million[58]. - Total employee benefits expenses (excluding directors and highest executive remuneration) amounted to HKD 94,865,000, a slight decrease from HKD 96,561,000 in the previous year[88]. - Administrative and selling expenses decreased to HKD 64,688,000 from HKD 86,014,000, showing a reduction of about 24.8%[44]. - The group has established a professional team and organizational structure for its carbon neutrality business, including the Industrial Carbon Negative Department and the Natural Carbon Negative Department[149]. Market and Revenue Trends - The global carbon neutrality business segment generated revenue of approximately HKD 152.6 million during the period, down from approximately HKD 209.2 million in the previous year, mainly due to decreased sales of carbon credit assets in Singapore[125]. - The ecological governance segment reported revenue of approximately HKD 480.3 million, a slight decrease of about HKD 19.8 million or 4% compared to the previous year[183]. - The group recorded a gross profit of approximately HKD 35.7 million for the year, a decrease of about HKD 6.8 million or 16.0% compared to the previous year[155]. Future Outlook and Plans - The financial year-end date has been changed from December 31 to June 30, with the next audited financial statements covering an 18-month period from January 1, 2023, to June 30, 2024[61]. - The company aims to expand its emerging carbon neutrality business segment, focusing on carbon credit asset development, management, investment, and carbon consulting, in line with national commitments to achieve carbon neutrality by 2060[141]. - The group has 11 major ongoing projects as of December 31, 2023, including two construction and maintenance projects and several civil engineering projects[152]. - The group launched the "Green Finance Open Platform" in collaboration with partners to reduce the barriers for users in accessing green financial tools[148]. Shareholder and Capital Management - The group issued and allocated 40,000,000 new shares on May 5, 2023, as part of the conversion of convertible bonds amounting to HKD 160,000,000[178]. - On April 26, 2023, the company issued and allotted 80,000,000 new shares at a conversion price of HKD 2.00 per share, following the partial conversion of convertible bonds with a principal amount of HKD 160,000,000[196]. - On October 11, 2023, the company approved a resolution to increase its authorized share capital from HKD 5,000,000 to HKD 100,000,000 by creating an additional 9,500,000,000 shares[199]. - On October 27, 2023, a total of 89,300,000 placement shares were successfully issued and allotted to no less than six independent third-party subscribers, with no subscribers becoming major shareholders of the company[200].

Financial Performance - Revenue for the six months ended June 30, 2023, was HK$197,513,000, a decrease of 14.6% compared to HK$231,099,000 in the same period of 2022[5]. - Gross profit increased to HK$16,339,000, up 32.1% from HK$12,351,000 year-on-year[5]. - Operating loss for the period was HK$36,835,000, compared to an operating profit of HK$3,523,000 in the previous year[5]. - Loss for the period attributable to owners of the Company was HK$36,294,000, compared to a profit of HK$3,916,000 in 2022[9]. - Total comprehensive expense for the period was HK$39,345,000, significantly higher than HK$2,203,000 in the prior year[9]. - Basic loss per share for the period was HK$9.9 cents, compared to earnings of HK$1.3 cents in the previous year[9]. - The Group reported a loss before tax of HK$36,835,000 for the six months ended June 30, 2023, compared to a profit of HK$3,438,000 in the same period of 2022[34]. - The Group reported a loss attributable to owners of approximately HK$36.3 million for the six months ended 30 June 2023, compared to a profit of approximately HK$3.9 million in 2022[167]. - Basic and diluted loss per share for the six months ended 30 June 2023 were HK$9.9 cents, while in 2022, basic and diluted earnings per share were HK$1.3 cents and HK$5.4 cents respectively[168]. Assets and Liabilities - Non-current assets increased to HK$53,321,000 as of June 30, 2023, compared to HK$33,514,000 at the end of 2022[12]. - Current assets decreased to HK$260,905,000 from HK$281,024,000 at the end of 2022[12]. - Current liabilities increased to HK$160,124,000, up from HK$156,908,000 at the end of 2022[12]. - As of June 30, 2023, total non-current liabilities decreased to HK$87,738,000 from HK$207,399,000 as of December 31, 2022, representing a reduction of approximately 57.7%[13]. - The net assets increased to HK$66,364,000 as of June 30, 2023, compared to net liabilities of HK$49,769,000 at the end of 2022, indicating a turnaround in financial position[13]. - Total equity attributable to owners of the Company reached HK$68,099,000 as of June 30, 2023, up from a deficit of HK$49,146,000 at the end of 2022[13]. - The share capital increased to HK$4,465,000 as of June 30, 2023, compared to HK$3,205,000 at the end of 2022, reflecting a growth of approximately 39.2%[13]. - The total allowance for impairment loss on contract assets decreased from HK$1,222,000 in December 2022 to HK$764,000 in June 2023, indicating improved asset quality[71]. - The liability component of convertible bonds decreased to HK$57,529,000 as of June 30, 2023, down from HK$177,544,000 at the beginning of the year, a reduction of 67.6%[92]. Cash Flow - Net cash flows generated from operating activities for the six months ended June 30, 2023, were HK$11,786,000, a significant improvement from a cash outflow of HK$36,199,000 in the same period of 2022[17]. - Total cash flows used in investing activities amounted to HK$21,023,000, compared to HK$12,987,000 in the prior year, reflecting increased investments in subsidiaries and intangible assets[17]. - Cash and cash equivalents at the end of the period were HK$76,595,000, down from HK$84,941,000 at the end of June 2022, indicating a decrease of approximately 9.5% year-over-year[17]. - The company reported a net increase in cash of HK$359,000 for the six months ended June 30, 2023, contrasting with a decrease of HK$3,285,000 in the same period of 2022[17]. Share Capital and Equity - The Company issued new shares amounting to HK$15,000,000 during the period, contributing to the increase in share capital[16]. - The company’s share capital increased by HK$800,000 and HK$250,584,000 due to the issuance of 80,000,000 conversion shares in April 2023[132]. - The company’s share premium account increased by HK$125,640,000 from the issuance of 40,000,000 conversion shares in May 2023[133]. - The company’s total issued share capital as of June 30, 2023, was HK$4,465,000, reflecting the impact of recent share issuances[127]. Segment Performance - The Company operates two reportable segments: Global Carbon Neutral Business and Civil Engineering and Construction Business, which are monitored separately for performance assessment[30]. - For the six months ended June 30, 2023, the total segment revenue was HK$197,513,000, a decrease of 14.5% compared to HK$231,099,000 for the same period in 2022[34]. - The Global Carbon Neutral segment generated revenue of HK$3,337,000, significantly down from HK$420,000 in 2022, while the Civil Engineering and Construction segment revenue decreased to HK$194,176,000 from HK$230,679,000[34]. - The revenue of the Global Carbon Neutral Business for 1H2023 was approximately HK$3.3 million, a significant increase from approximately HK$0.4 million in 2022[178]. Carbon Credit and Environmental Initiatives - The Company’s principal activities include trading of carbon-credit assets and development in carbon neutral related fields, which are expected to drive future growth[22]. - The company is focused on carbon capture, utilization, and storage (CCUS) technologies, which are central to its global carbon neutral business strategy[22]. - The Group's carbon neutral business management team consists of experts with extensive experience in financial, asset management, and corporate management fields, enhancing its operational capabilities[184]. - The Group aims to achieve negative carbon emissions of 100 million metric tons each from nature-based solutions and technology-based solutions, contributing to a 2% reduction in China's CO2 emissions[197]. - The Group's investment in afforestation is expected to absorb 100 million metric tons of CO2, while the development of CCUS projects will also reduce 100 million metric tons of CO2 emissions[197]. Acquisitions and Strategic Developments - The Group acquired 73% equity interest in Shenzhen Jianxin Zhuhe Technology Company Limited on March 27, 2023, resulting in significant goodwill recognized[83]. - The acquisition of Jianxin Zhuhe is expected to enhance the company's position in the carbon-neutral business and generate good financial returns[140]. - The Group acquired a 73% equity interest in The Green Credit Technology Co., Ltd., a leading blockchain-based digital technology service provider in China, to enhance carbon-neutral development[193]. Governance and Leadership Changes - The company’s chairman, Ms. Chan Tan Na Donna, resigned on February 20, 2023, indicating potential changes in leadership[69].

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