Production Capacity and Investment - The company achieved full production capacity with 2GW of photovoltaic modules and 6GW of photovoltaic cells, showing strong sales growth in N-type batteries and modules [4]. - The company plans to invest in the construction of 22GW of efficient N-type batteries and 6GW of advanced modules in Fengtai County, covering approximately 800 to 1,200 acres [7]. - The first phase of construction for 2GW of modules and 3GW of battery projects has been completed and commenced production in 2023, with the third phase expected to be completed by the end of 2024 [7]. - The company plans to continue seeking new green energy opportunities and develop high-efficiency N-type batteries, with an 8GW battery project expected to be completed in Q4 2024 [13]. Financial Performance - The company recorded total revenue of approximately HKD 4,028.3 million for the reporting year, an increase of about 149.6% compared to HKD 1,613.6 million in the previous year [15]. - The renewable energy and EPC segment generated revenue of approximately HKD 2,119.6 million, up from HKD 58.6 million in the previous year, accounting for about 52.6% of total revenue [9][15]. - The green building and construction-related segment reported revenue of approximately HKD 1,349.4 million, an increase from HKD 852.7 million, representing about 33.5% of total revenue [8][16]. - The smart energy management services segment saw a decrease in revenue to approximately HKD 16.0 million from HKD 19.7 million, accounting for about 0.4% of total revenue [10][16]. - The health and medical segment's revenue decreased to approximately HKD 409.9 million from HKD 484.0 million, representing about 10.2% of total revenue [11][16]. - The food and beverage supply chain segment reported revenue of approximately HKD 133.4 million, down from HKD 198.7 million, accounting for about 3.3% of total revenue [12][16]. - Gross profit for the reporting year was approximately HKD 172.8 million, a significant increase of about 455.6% from HKD 31.1 million in the previous year [17]. - The company achieved a net profit of approximately HKD 71.3 million, compared to a net loss of HKD 30.3 million in the previous year [21]. - EBITDA for the reporting year was approximately HKD 125.4 million, compared to a loss of about HKD 16.3 million in the previous year [22]. Corporate Governance and Management - The company aims to create sustainable value for shareholders and stakeholders through effective governance measures [5]. - The company has a strong management team with members holding advanced degrees from prestigious institutions, including Hong Kong Baptist University and Fudan University [41]. - The board consists of seven members, including two executive directors, two non-executive directors, and three independent non-executive directors [121]. - The company has adopted a board diversity policy, considering factors such as gender, age, cultural background, and professional experience [122]. - The company has established clear terms of reference for all board committees, which are regularly reviewed [130]. - The board will recommend suitable candidates for re-election at the annual general meeting based on the nomination committee's assessments [126]. - The company has established a whistleblowing policy to provide a confidential reporting channel for employees and external parties regarding illegal activities and misconduct [144]. - The company has implemented various water-saving measures and training to enhance water resource management [185]. Sustainability and Environmental Commitment - The company is committed to sustainable development and aims to achieve carbon neutrality, aligning with national policies [5]. - The company believes in the widespread application of solar energy to benefit humanity and contribute to a sustainable future [5]. - The company has implemented an environmental management system and obtained ISO 14001 certification since November 2010 [94]. - The company achieved 100% compliance in emissions standards for waste gas, noise, and solid waste management, with wastewater COD discharge at 19.69 mg/L, well below the target of ≤ 130 mg/L [172]. - The company is committed to green development and has implemented various environmental management programs to ensure compliance with national and regional environmental laws and standards [171]. - The company has identified key sustainability issues including emissions management, energy management, and resource usage as part of its operational strategy [168]. - The company is focused on continuous improvement in ESG reporting and management practices to meet regulatory requirements and stakeholder expectations [159]. Employee and Workforce Management - The group had cash and bank balances of approximately HKD 137.4 million at the end of the reporting year, a decrease from HKD 614 million in the previous year, primarily due to HKD 500 million used for the development of the Phase II photovoltaic project and bank loan collateral [23]. - The group has 1,469 employees as of December 31, 2023, an increase from 639 in the previous year, with total employee costs of approximately HKD 52.4 million compared to HKD 43.2 million in the previous year [32]. - The overall employee turnover rate for the reporting year was 34.39%, with 770 employees leaving for career development reasons [198]. - The company emphasizes health and safety as a critical part of sustainable business development, implementing various safety management systems [200]. - The employee distribution by age shows a significant presence of employees aged 31-40, with 628 individuals in this category [195]. Risks and Challenges - The company faces risks of cost overruns or losses if project costs are inaccurately estimated or if there are delays in project completion [64]. - The company must comply with extensive environmental, health, and safety regulations, which could lead to significant costs and operational burdens [65]. - The property development business is contingent on the growth of the Chinese real estate market, which is subject to government macroeconomic control measures [66]. - The company may face significant development risks, including delays in obtaining necessary permits and rising costs of materials and labor [67]. - The company has a credit risk exposure in its construction materials trading business, typically granting credit periods ranging from 7 to 270 days based on various factors [68]. Shareholder Relations and Communication - The company emphasizes effective communication with shareholders and potential investors to enhance investor relations and ensure timely access to unbiased information [146]. - The board of directors has reviewed the implementation and effectiveness of the investor relations policy, confirming its proper execution throughout the reporting year [146]. - The company will hold its annual general meeting on June 28, 2024, with relevant resolutions and voting procedures to be communicated to shareholders at least 21 days in advance [146].

Financial Performance - The group's revenue for the reporting year was approximately HKD 4,028.3 million, a significant increase from HKD 1,613.6 million in the previous year, representing a growth of about 149.5%[3] - The company reported a profit attributable to owners of approximately HKD 66.3 million, compared to a loss of HKD 27.8 million in the previous year, marking a turnaround in performance[3] - Basic and diluted earnings per share for the reporting year were approximately HKD 1.57, compared to a loss of HKD 0.66 per share in the previous year[3] - The EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) for the year was approximately HKD 125.4 million, a significant improvement from an EBITDA loss of HKD 16.3 million in the previous year[3] - The gross profit for the year was approximately HKD 172.8 million, compared to HKD 31.1 million in the previous year, indicating a substantial increase in profitability[5] - The total comprehensive income for the year attributable to owners was approximately HKD 71.3 million, a recovery from a loss of HKD 30.3 million in the previous year[7] - The total segment profit for the year was HKD 104,552,000, compared to a loss of HKD 49,262,000 in the previous year, marking a turnaround in profitability[24] - The company reported a pre-tax profit of HKD 82,853,000, a significant improvement from a pre-tax loss of HKD 31,010,000 in the previous year[24] - The company reported a net profit of HKD 66,323,000 for the year ending December 31, 2023, compared to a net loss of HKD 27,843,000 in 2022[31] Revenue Breakdown - The revenue from the Green Building and Related Business segment was HKD 1,349,387,000, up from HKD 852,663,000, indicating a growth of about 58%[24] - The New Energy and EPC segment generated revenue of HKD 2,119,585,000, compared to HKD 58,594,000 in the previous year, reflecting an increase of approximately 3,500%[24] - The Smart Energy Management Services segment reported revenue of HKD 16,055,000, a slight decrease from HKD 19,718,000, showing a decline of about 18%[24] - The Health and Medical segment's revenue was HKD 409,875,000, down from HKD 483,997,000, representing a decrease of approximately 15%[24] - The Food Supply Chain segment achieved revenue of HKD 133,397,000, compared to HKD 198,669,000 in the previous year, indicating a decline of about 33%[24] Assets and Liabilities - Total assets increased to HKD 3,496,284,000 in 2023 from HKD 1,491,038,000 in 2022, representing a growth of 134%[9] - Total liabilities rose to HKD 2,185,049,000 in 2023 compared to HKD 1,302,865,000 in 2022, marking an increase of 68%[10] - The company's equity attributable to owners increased to HKD 850,530,000 in 2023 from HKD 188,292,000 in 2022, reflecting a growth of 352%[9] - Cash and cash equivalents decreased to HKD 137,372,000 in 2023 from HKD 613,996,000 in 2022, a decline of 78%[10] - Trade and other receivables increased significantly to HKD 1,560,456,000 in 2023 from HKD 340,336,000 in 2022, an increase of 359%[9] - The company reported a total of HKD 209,772,000 in inventories for 2023, up from HKD 36,583,000 in 2022, indicating a growth of 472%[9] - Long-term borrowings increased to HKD 288,156,000 in 2023 from HKD 0 in 2022, showing a new debt acquisition[10] - The company's total equity and liabilities amounted to HKD 3,496,284,000 in 2023, consistent with total assets[10] Strategic Plans and Market Position - The company plans to continue its market expansion and product development strategies to sustain growth in the upcoming fiscal year[4] - The company plans to continue expanding its operations in the Green Building and New Energy sectors, leveraging the substantial revenue growth observed in these areas[24] - The group plans to continue seeking new green energy opportunities in Fengtai County and Tongcheng City, with the third phase of the 8GW battery construction expected to be completed in Q4 2024[48] - The group has established strategic cooperation agreements for joint development in photovoltaic equipment supply and construction, aiming to enhance its green energy business capabilities[49] - The company aims to leverage business opportunities in green construction and green new energy to provide higher returns for shareholders[39] Corporate Governance and Compliance - The company has adhered to all applicable corporate governance codes, with a noted deviation regarding the dual role of the CEO and Chairman[78] - The company confirmed full compliance with the standards for directors' securities trading throughout the reporting year[79] - The company maintains sufficient public float as required by listing rules as of the reporting year and up to the announcement date[90] - The company was included as a constituent stock in several Hang Seng indices starting March 4, 2024, which is expected to enhance shareholder base and liquidity[76] Employee and Operational Insights - As of December 31, 2023, the group had 1,469 employees, an increase from 639 in the previous reporting year[69] - Total employee costs for the reporting year were approximately HKD 42.3 million, slightly down from HKD 43.2 million in the previous year[69] - The group incurred capital commitments of approximately HKD 418.1 million for the purchase of properties, plants, and equipment, with no such commitments in the previous reporting year[70] Changes and Developments - The company changed its name from "Central Holding Group Co. Ltd." to "Central New Energy Holding Group Limited" effective April 25, 2023[85] - The English stock abbreviation will change from "CENTRAL HOLDING" to "CENTRAL NEW ENERGY" effective June 2, 2023[87] - The company proposed a stock split, converting each existing share with a par value of HKD 0.0025 into four shares with a par value of HKD 0.000625, effective December 22, 2023[62]

Revenue and Profitability - For the six months ended June 30, 2023, the total revenue of the group was approximately HKD 1,658.1 million, compared to HKD 565.6 million for the same period last year, representing an increase of 194.5%[5]. - The company's total revenue for the reporting period was approximately HKD 1,660.1 million, an increase of about 193.6% compared to HKD 565.5 million in the previous period[22]. - Revenue for the six months ended June 30, 2023, was HKD 1,660,071,000, a significant increase of 194% compared to HKD 565,513,000 for the same period in 2022[43]. - The construction and related business segment generated revenue of approximately HKD 716.8 million, accounting for 43.18% of total revenue, up from 50.06% in the previous period[7]. - The health and medical services segment reported revenue of approximately HKD 263.9 million, which is 15.9% of total revenue, an increase from HKD 196.9 million in the previous period[10]. - The new energy and EPC segment achieved revenue of approximately HKD 672.1 million, representing 40.49% of total revenue, with the increase attributed to the completion of a 2GW photovoltaic component project[12]. - The company reported a profit attributable to owners of the company of HKD 16,077,000 for the six months ended June 30, 2023, compared to HKD 7,849,000 in the same period of 2022, reflecting an increase of about 105%[94]. - The net profit for the reporting period was approximately HKD 24.1 million, compared to HKD 6.4 million in the previous period, primarily due to the full capacity production of the 2GW photovoltaic components[29]. Financial Position - Total assets as of June 30, 2023, amounted to HKD 2,469,416,000, up from HKD 1,491,038,000 at the end of 2022, indicating a growth of 65.6%[46]. - The total equity attributable to the owners of the company increased to HKD 538,704,000 from HKD 188,292,000, reflecting a growth of 186%[48]. - The total liabilities decreased to HKD 1,173,307,000 as of June 30, 2023, from HKD 1,302,865,000 as of December 31, 2022, showing a reduction of about 10%[85]. - The debt-to-equity ratio improved significantly to approximately 25.6% as of June 30, 2023, compared to 267.3% as of December 31, 2022[31]. - The company's cash and bank balances as of June 30, 2023, were approximately HKD 382.1 million, down from HKD 614.0 million as of December 31, 2022[30]. - The company’s total liabilities for the construction and related business segment decreased to HKD 287,033,000 as of June 30, 2023, from HKD 439,765,000 as of December 31, 2022, showing a reduction of approximately 35%[85]. Operational Highlights - The company plans to invest in the construction of a 10GW high-efficiency N-type battery and advanced component production and supply business, expected to be completed in three phases[13]. - The first phase of the 2GW component and battery project was completed in Q4 2022, with the second phase expected to be operational by Q3 2023[15]. - Strategic cooperation agreements have been established for joint development in photovoltaic equipment supply and clean energy sectors, enhancing the company's capabilities in green photovoltaic products[15]. - The development of the new energy and EPC business is expected to create synergies with the construction-related business, strengthening the revenue base and increasing shareholder returns[16]. - The company aims to achieve sustainable income and balanced growth through existing opportunities in the new energy and EPC sectors[18]. Employee and Administrative Costs - The total number of employees increased to 1,249 as of June 30, 2023, from 470 in the previous year, with total employee costs rising to approximately HKD 56.0 million[34]. - Administrative and other operating expenses increased to approximately HKD 35.8 million, up about 54.3% from HKD 23.2 million in the previous period[26]. Cash Flow and Investments - Operating cash flow for the six months ended June 30, 2023, was a net cash outflow of HKD 609,575,000, compared to a net cash inflow of HKD 103,181,000 in the previous year[55]. - The company utilized HKD 173,092,000 in investing activities during the first half of 2023, compared to HKD 477,000 in the same period of 2022[55]. - The company invested approximately HKD 165,929,000 in property, plant, and equipment during the reporting period, compared to HKD 78,445,000 in the same period of 2022, indicating an increase of about 112%[96]. Governance and Compliance - The audit committee has reviewed and approved the interim financial performance, ensuring compliance with applicable accounting standards and regulations[129]. - The company confirms that there are no interests held by controlling shareholders or directors that may compete with the group's business during the reporting period[123]. - The company’s governance practices have been reviewed, with a noted deviation from the corporate governance code regarding the dual role of the CEO and Chairman held by the same individual[112].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容 概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示概不就 因本公告全部或任何部分內容而產生或因依賴該等內容而引致的任何損 失承擔任何責任。 CENTRAL NEW ENERGY HOLDING GROUP LIMITED 中 環 新 能 源 控 股 集 團 有 限 公 司 （前稱 C e n t r a l H o l d i n g G r o u p C o . L t d .中環控股集團有限公司） （於開曼群島註冊成立的有限公司） （股份代號：1735） 截 至 二 零 二 三 年 六 月 三 十 日 止 六 個 月 中 期 業 績 公 告 財務摘要 — 於報告期間，本集團的收益約為1,660.1百萬港元（上一期間：約565.5 百萬港元）。 — 於 報 告 期 間，本 公 司 擁 有 人 應 佔 溢 利 約 為16.1百 萬 港 元（上 一 期 間 本公司擁有人應佔溢利：約7.8百萬港元）。 — 於 報 告 期 間，每 股 基 本 及 攤 薄 盈 利 約 為1.52港 仙（上 一 期 間 每 股 基 本及攤薄盈利：約0.74港仙）。 ...

Revenue Segments - The construction and related business segment generated revenue of approximately HKD 852.7 million, accounting for about 52.8% of total revenue, an increase from HKD 810.4 million in the previous reporting period[11]. - The food supply chain segment recorded revenue of approximately HKD 198.7 million, representing 12.3% of total revenue, up from HKD 93.2 million in the previous reporting period[12]. - The health and medical segment generated revenue of approximately HKD 484.0 million, accounting for about 30.0% of total revenue, up from 16.2% in the previous period[20][21]. - The smart logistics and information systems segment recorded revenue of approximately HKD 19.7 million, representing about 1.2% of total revenue, an increase from 0.6% in the previous period[20][21]. - The new energy and EPC segment achieved revenue of approximately HKD 58.6 million, contributing about 3.6% to total revenue, with no revenue reported in the previous period[20][21]. - The company's total revenue for the reporting year was approximately HKD 1,613.6 million, an increase of about 48.6% compared to HKD 1,086.2 million in the previous reporting period[20]. Financial Performance - The company reported a net loss of approximately HKD 30.3 million for the reporting year, compared to a net profit of HKD 60.3 million in the previous period[27]. - EBITDA for the reporting year was approximately HKD 16.3 million in loss, compared to a profit of about HKD 92.2 million in the previous period[28]. - The administrative and other operating expenses increased to approximately HKD 83.5 million, up about 76.9% from HKD 47.2 million in the previous period[24]. - The company's financial reserves available for distribution were approximately HKD 23 million as of December 31, 2022, down from HKD 33 million the previous year[79]. - The company did not recommend the declaration of a final dividend for the reporting year[37]. Investment and Growth Strategies - The company has begun exploring new green energy opportunities, including the purchase of two fully automated photovoltaic module production lines, with production and sales starting in December 2022[7]. - The company aims to achieve sustainable income and balanced growth while responding to national policies on carbon neutrality and green development[7]. - The anticipated investment required for China to achieve carbon neutrality by 2060 is estimated to reach RMB 136 trillion, presenting significant opportunities for green energy investments[6]. - The company is diversifying its revenue sources to mitigate risks associated with market uncertainties in Hong Kong[6]. - The company is focused on achieving higher returns for shareholders through strategic investments in green buildings and new green energy[7]. Operational Challenges - The construction and related business environment remains challenging, with low bidding prices and rising costs impacting operations[6]. - The company’s revenue heavily relies on a limited number of clients, which poses a significant risk to its financial condition and operational performance[65]. - The company’s earnings primarily stem from non-recurring foundation and superstructure construction projects, with no guarantee of new business from clients[66]. - The company may face penalties ranging from RMB 5,000 to RMB 30,000 for conducting construction without the necessary permits[68]. - The company faces significant development risks, including potential delays in obtaining necessary licenses and permits, which could adversely affect project completion and financial performance[71]. Employee and Management Information - As of December 31, 2022, the group had 639 employees, an increase from 468 in the previous reporting period[32]. - Total employee costs for the reporting year were approximately HKD 43.2 million, down from approximately HKD 49.7 million in the previous reporting period[32]. - The gender distribution of employees in 2022 was 428 males and 211 females, indicating a majority male workforce[199]. - The company has implemented a performance review system to assess employee performance and compensation annually based on market salary benchmarks[193]. - The company has a strict policy against child labor and forced labor, with regular monitoring to ensure compliance[197]. Corporate Governance - The board is committed to maintaining high levels of corporate governance to protect shareholder interests and enhance shareholder value[119]. - The company has complied with all applicable code provisions of the corporate governance code, except for a deviation regarding the roles of the chairman and CEO[120]. - The board has established three committees, including the audit committee, nomination committee, and remuneration committee, to oversee specific aspects of the company's affairs[126]. - The company has received annual independence confirmations from all independent non-executive directors, affirming their independence as per listing rules[82]. - The board confirmed that there were no significant deficiencies in risk management and internal controls following the consultant's review[151]. Environmental and Sustainability Efforts - The company has implemented an environmental management system since November 2010 and has obtained ISO 14001 certification[97]. - The company has maintained compliance with environmental laws and has not received any complaints or fines from environmental authorities in the past three years[174]. - The company aims to reduce greenhouse gas emissions by at least 2% in the coming year, building on a total CO2 emission of 39.50 tons from combustion sources in 2022, up from 37.79 tons in 2021[doc id='178']. - The company has set a target to reduce non-hazardous waste by 2% to 3% in the coming year, following a consistent record of no significant hazardous waste generation[180]. - The company engages with stakeholders through various communication channels, including annual meetings and direct inquiries[170].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容 概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示概不就 因本公告全部或任何部分內容而產生或因依賴該等內容而引致的任何損 失承擔任何責任。 CENTRAL HOLDING GROUP CO. LTD. 中 環 控 股 集 團 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：1735） 截 至 二 零 二 二 年 十 二 月 三 十 一 日 止 年 度 的 全 年 業 績 公 告 財務摘要 — 截至二零二二年十二月三十一日止年度，本集團的收益約為1,613.6 百萬港元（截至二零二一年十二月三十一日止年度：約1,086.2百萬港 元）。 — 截至二零二二年十二月三十一日止年度，本公司擁有人應佔虧損約 為27.8百萬港元（截至二零二一年十二月三十一日止年度：本公司擁 有人應佔溢利約為62.0百萬港元）。 — 截至二零二二年十二月三十一日止年度，每股基本及攤薄虧損約為 2.64港仙（截至二零二一年十二月三十一日止年度：每股基本及攤薄 盈利約為5.87港仙）。 — 截 至 二 零 二 二 年 十 二 月 三 十 一 日 止 年 度，除 ...

Revenue Performance - For the six months ended June 30, 2022, the revenue from the construction and building materials segment was approximately HKD 247.9 million, representing an increase from HKD 225.3 million for the same period in 2021, accounting for about 43.8% of total revenue[10]. - The property development and investment segment generated revenue of approximately HKD 11.8 million, compared to none in the same period last year, contributing about 2.1% to total revenue[11]. - The property management services segment reported revenue of approximately HKD 23.4 million, up from HKD 19.0 million in the previous year, accounting for about 4.2% of total revenue[12]. - The restaurant supply chain segment's revenue increased to approximately HKD 85.5 million from HKD 27.5 million, representing about 15.1% of total revenue[14]. - The health and medical segment achieved revenue of approximately HKD 196.9 million, a significant increase from HKD 36.9 million, making up about 34.8% of total revenue[16]. - The smart logistics and information systems segment saw a decline in revenue to approximately HKD 0.03 million from HKD 4.7 million, primarily due to COVID-19 lockdowns affecting operations[15]. - The group recorded a revenue of approximately HKD 565.5 million for the six months ended June 30, 2022, representing an increase of about 80.4% compared to HKD 313.4 million for the same period last year[19]. - Revenue for the six months ended June 30, 2022, was HKD 565,513,000, a significant increase from HKD 313,420,000 for the same period in 2021, representing an increase of 80.5%[64]. - The total revenue from external customers for the six months ended June 30, 2022, was HKD 313,420,000, compared to HKD 244,108,000 for the same period in 2021, representing a year-on-year increase of approximately 28.4%[72]. Profitability and Financial Performance - The gross profit for the six months ended June 30, 2022, was approximately HKD 13.8 million, a decrease of about 18.3% from HKD 16.9 million for the same period last year, with the gross margin declining from approximately 5.4% to 2.4%[22]. - The group achieved a net profit of approximately HKD 6.4 million for the six months ended June 30, 2022, compared to a net loss of approximately HKD 17.2 million for the same period last year[26]. - The company reported a net loss of HKD 2,336,000 for the six months ended June 30, 2022, compared to a profit in the previous period[70]. - The company reported a net loss before tax of HKD 15,564,000 for the six months ended June 30, 2022, compared to a net profit of HKD 15,072,000 for the same period in 2021[79]. - The total comprehensive income for the period was a loss of HKD 7,391,000, compared to a gain of HKD 7,849,000 in the previous year[50]. - The company reported a loss of HKD 15,072,000 during the period, impacting the overall equity[48]. Cash Flow and Financial Position - As of June 30, 2022, the group had cash and bank balances of approximately HKD 53.4 million, an increase from HKD 50.4 million as of December 31, 2021[27]. - The company’s cash and bank balances stood at HKD 53,358,000 as of June 30, 2022[44]. - The net cash generated from operating activities for the six months ended June 30, 2022, was HKD 103,181,000, compared to a net cash used of HKD 31,175,000 for the same period in 2021[51]. - The net cash used in investing activities was HKD 477,000 for the six months ended June 30, 2022, a significant decrease from HKD 13,757,000 in the previous year[51]. - The net cash used in financing activities was HKD 103,904,000 for the six months ended June 30, 2022, compared to cash generated of HKD 34,148,000 in the same period of 2021[51]. - The cash and cash equivalents at the end of the period were HKD 53,358,000, an increase from HKD 42,331,000 as of June 30, 2021[51]. - The company’s total assets as of June 30, 2022, amounted to HKD 907,067,000, compared to HKD 772,181,000 as of December 31, 2021, reflecting a growth of 17.4%[47]. - Total liabilities increased to HKD 676,058,000 as of June 30, 2022, from HKD 540,967,000 at the end of 2021, marking a rise of 24.9%[47]. - The company’s basic and diluted earnings per share for the period were HKD 0.74, compared to a loss of HKD 1.43 in the previous year[43]. - The company’s total assets and liabilities were reported to be at fair value, with no transfers between different fair value levels during the reporting period[61]. Operational Efficiency - The group has reduced administrative and other operating expenses by approximately 32.9% to about HKD 23.2 million for the six months ended June 30, 2022, compared to HKD 34.6 million in the previous period[24]. - The company incurred depreciation expenses of HKD 3,665,000 for property, plant, and equipment during the six months ended June 30, 2022, compared to HKD 3,472,000 for the same period in 2021[79]. - The company utilized approximately HKD 0.3 million for hiring additional staff and HKD 11.6 million for general working capital during the reporting period[39]. Market and Strategic Focus - The company aims to diversify its income sources to mitigate potential risks associated with the uncertain Hong Kong market[8]. - The company maintains a strong presence in the Chinese market with various related businesses, including construction, property development, and health services, which have shown satisfactory performance during the reporting period[8]. - The company is focused on achieving synergies across its six main segments to enhance returns and expand business opportunities[8]. - The company plans to continue exploring business development opportunities in the construction industry while managing operations prudently[8]. - The group plans to explore new green energy opportunities and aims to contribute to the development of green buildings and new green energy[18]. Shareholder and Governance Information - Central Culture Resource Group Limited holds 722,594,580 shares, representing approximately 68.43% of the company's equity[103]. - Huatai Securities Co., Ltd. owns 686,482,000 shares, accounting for about 65.00% of the company's equity[103]. - The total number of shares available for the stock option plan is 105,600,000, which is 10% of the company's total issued share capital[106]. - The company maintained sufficient public float as required by the listing rules during the reporting period[108]. - The audit committee reviewed and approved the interim financial results, ensuring compliance with applicable accounting standards and regulations[111]. - The company has maintained compliance with all applicable corporate governance codes during the reporting period, with a noted exception regarding the dual role of the CEO and Chairman[97]. Risks and Legal Matters - The company faced various financial risks including interest rate risk, credit risk, and liquidity risk[58]. - The company continues to engage in various claims, lawsuits, and legal proceedings, which may impact its financial performance or cash flow[95]. - The company has not disclosed any significant events after the reporting period that require attention[96].

Financial Performance - The company's revenue increased by approximately 191% from about HKD 373.5 million in the previous reporting period to approximately HKD 1,086.2 million for the reporting year[7]. - EBITDA for the reporting year was approximately HKD 92.3 million, a significant increase of 1,164% compared to the previous period's profit of about HKD 7.3 million[7]. - The net profit for the reporting year was approximately HKD 60.3 million, compared to a net loss of about HKD 0.65 million in the previous reporting period[7]. - The company reported total revenue of approximately HKD 1,086.2 million, an increase of about 191% compared to the previous period's HKD 373.5 million[23]. - The company reported a gross profit of approximately HKD 51.8 million, an increase of about 896% compared to the previous period[25]. - Net profit for the year was approximately HKD 60.3 million, a turnaround from a net loss of HKD 0.65 million in the previous period[29]. - The group reported a profit of HKD 60.286 million for the year ending December 31, 2021, compared to a loss of HKD 652,000 in the previous period[31]. - EBITDA for the year was HKD 92.277 million, a significant increase from HKD 7.318 million in the previous period[31]. - The company reported total revenue of HKD 1,086,236,000 for the year ending December 31, 2021, compared to HKD 373,527,000 for the previous year, representing a significant increase[187]. - Gross profit for the year was HKD 51,766,000, with direct costs amounting to HKD 1,034,470,000, indicating a gross margin improvement[187]. - The net profit attributable to the company's owners was HKD 61,985,000, compared to a loss of HKD 1,699,000 in the previous year, marking a turnaround in profitability[194]. Business Strategy and Growth - The company aims to seek attractive growth opportunities in China and other regions to provide long-term financial returns to shareholders[8]. - The company aims to explore business opportunities in green buildings and green energy to enhance shareholder returns, aligning with national carbon neutrality goals[19]. - The company plans to strategically invest in high-growth industries, including the metaverse, photovoltaic and low-carbon industries, and new energy battery charging[21]. - The company is committed to developing green buildings and green energy to enhance shareholder returns and contribute to ecological living environments[8]. - The company is planning to expand its market presence in Southeast Asia, targeting a 25% increase in market share within the next two years[45]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[194]. Operational Challenges - The construction business environment in Hong Kong remains challenging, with pressure on gross profit and margins due to lower bid prices[10]. - The company primarily generates revenue from a limited number of clients, which poses a significant risk to its financial condition and operational performance if project numbers decrease[53]. - The company's revenue is largely dependent on winning non-recurring foundation and superstructure construction projects, with no guarantee of future contracts from clients[54]. - There are substantial risks associated with project completion and delivery, with potential delays exceeding one year due to various factors, including licensing delays and material shortages[60]. - The company may face penalties ranging from RMB 5,000 to RMB 30,000 for conducting construction without the necessary permits in China[56]. Employee and Management - The total employee cost for the year was approximately HKD 49.7 million, up from HKD 30.1 million in the previous period, with the number of employees increasing to 468 from 382[35]. - The company has a competitive compensation package to attract and retain suitable employees, with an annual review system in place for performance evaluation[78]. - The group employs 468 staff as of December 31, 2021, with a focus on achieving gender balance and providing equal opportunities[151]. - The average training duration provided in the reporting year was 14.5 hours per employee[163]. - A total of 70 male and 46 female employees received training during the reporting year[164]. Corporate Governance - The board of directors is committed to high levels of corporate governance, which is essential for enhancing shareholder value[96]. - The company has complied with all applicable corporate governance code provisions, except for the specific provision regarding the separation of the roles of chairman and CEO[96]. - The board consists of seven members, including two executive directors, two non-executive directors, and three independent non-executive directors, ensuring a balanced skill set[101]. - The audit committee has reviewed the accounting principles and policies adopted by the group, ensuring compliance with financial reporting standards[95]. - The board regularly reviews its corporate governance policies and practices to ensure ongoing compliance and effectiveness[98]. Environmental and Social Responsibility - The group has implemented BEAM Plus environmental certification for several projects, demonstrating its commitment to sustainable development[134]. - The group has established an environmental management system certified to ISO 14001:2015 standards to minimize environmental impacts[134]. - The group aims to balance maximizing shareholder returns with minimizing adverse environmental impacts[134]. - The company has implemented various energy-saving measures, including maintaining office temperatures between 24-26 degrees Celsius and using energy-efficient appliances[142]. - The company is committed to reducing its environmental impact through energy and water management initiatives[146]. Financial Position and Cash Flow - Total assets increased to HKD 772,181,000 from HKD 480,487,000 year-over-year, reflecting strong growth in the company's asset base[189]. - The company's equity attributable to owners rose to HKD 230,048,000, up from HKD 162,355,000, indicating improved financial health[189]. - The total liabilities increased to HKD 540,967,000 from HKD 318,030,000, primarily due to an increase in trade and other payables[191]. - The company reported cash and bank balances of HKD 50,373,000, slightly down from HKD 53,757,000 in the previous year[189]. - The company incurred interest payments of HKD (3,413) thousand, a significant increase from HKD (76) thousand in the prior period[196].

Revenue Performance - For the six months ended June 30, 2021, the revenue from foundation and superstructure construction was approximately HKD 84.6 million, an increase from HKD 58.1 million for the same period in 2020, accounting for about 27.0% of total revenue[12]. - The revenue from property management services was approximately HKD 19.0 million, with a managed area of approximately 1.53 million square meters, compared to no revenue in the same period of 2020, representing about 6.1% of total revenue[15]. - The revenue from the construction materials trading segment was HKD 140.7 million, significantly up from HKD 11.2 million in the same period of 2020, making up 44.9% of total revenue[16]. - The revenue from the catering supply chain business was HKD 27.5 million, with no revenue reported in the same period of 2020, representing about 8.8% of total revenue[17]. - The health and medical business generated revenue of HKD 36.9 million, up from HKD 8.5 million in the same period of 2020, accounting for approximately 11.8% of total revenue[19]. - The company reported a revenue of approximately HKD 3,134 million for the six months ending June 30, 2021, representing an increase of about 289.8% compared to HKD 804 million for the same period last year[21]. - Total revenue for the six months ended June 30, 2021, was HKD 313,420,000, compared to HKD 80,369,000 for the same period in 2020, indicating a significant increase[60]. - Revenue from foundation engineering and superstructure construction reached HKD 84,650,000, up from HKD 58,084,000 in the same period last year, representing a growth of 45.8%[58]. - The health and medical segment generated revenue of HKD 36,916,000, a significant increase from HKD 2,646,000 in the same period last year[58]. - The revenue from smart logistics and information systems was approximately HKD 4.7 million, an increase from HKD 2.64 million in the same period of 2020, accounting for about 1.5% of total revenue[18]. Financial Performance - The gross profit for the same period was approximately HKD 168.9 million, a significant increase of about 29,021% from approximately HKD 58,000 in the previous year, with a gross margin rising from 0.07% to 5.4%[23]. - The company recorded a net loss of approximately HKD 172 million for the six months ending June 30, 2021, compared to a net loss of about HKD 11.9 million for the same period last year[27]. - The net loss for the period was HK$17,154,000, compared to a net loss of HK$11,943,000 in the prior year, showing a worsening financial performance[41]. - The company reported a loss attributable to owners of HKD 15,072,000 for the six months ended June 30, 2021, compared to a loss of HKD 11,943,000 for the same period in 2020[75]. - The company experienced a cash outflow from operating activities of HK$31,175,000 during the period, indicating challenges in generating cash from core operations[47]. Assets and Liabilities - As of June 30, 2021, the company had cash and bank balances of approximately HKD 423 million, down from HKD 538 million as of December 31, 2020[28]. - The total assets increased to HK$560,337,000 as of June 30, 2021, from HK$480,487,000 as of December 31, 2020, indicating growth in the company's asset base[42]. - The total liabilities stood at HK$413,312,000 as of June 30, 2021, compared to the previous total of HK$367,954,000, reflecting an increase in financial obligations[44]. - The total liabilities increased to HKD 413,312,000 as of June 30, 2021, compared to HKD 318,030,000 as of December 31, 2020[70]. - Trade receivables increased to HKD 78,989,000 as of June 30, 2021, compared to HKD 38,025,000 as of December 31, 2020, representing a growth of 107.5%[77]. - Total trade and other receivables amounted to HKD 136,294,000 as of June 30, 2021, compared to HKD 78,809,000 as of December 31, 2020, reflecting an increase of 73.2%[77]. - Trade payables and accrued expenses reached HKD 170,163,000 as of June 30, 2021, compared to HKD 149,343,000 as of December 31, 2020, marking an increase of 13.9%[80]. Operational Developments - The company is expanding its construction business into various related sectors in China, including property development, property management, and health services, to diversify revenue sources[11]. - A new development project in Zhejiang, China, covering a total site area of 27,920 square meters and a total construction area of 37,356 square meters, is expected to be completed by December 2021[14]. - The company has ongoing construction projects, including a service agreement worth up to RMB 13.72 million for a project in Anhui Province, China[39]. - The company aims to achieve synergy across its various segments to enhance returns and create greater business opportunities[11]. - The company is cautiously managing its construction operations in Hong Kong due to challenges such as low bidding prices and rising costs[11]. Staffing and Expenses - As of June 30, 2021, the company employed 431 staff members, a significant increase from 94 staff members in the previous year[33]. - Administrative and other operating expenses increased by approximately 96.6% to about HKD 34.6 million, primarily due to the expansion of new business segments in China, resulting in an increase in employee costs[26]. - The company utilized approximately HKD 1.03 million of the proceeds for hiring additional staff and HKD 14.6 million for acquiring machinery and equipment during the reporting period[36]. - The management's remuneration for the period was approximately HKD 1,068,000, compared to HKD 2,800,000 for the same period last year[86]. Corporate Governance and Compliance - The company maintained compliance with corporate governance codes throughout the reporting period[90]. - The company has complied with the standards set out in the Code of Conduct for Securities Transactions by Directors throughout the reporting period[91]. - The audit committee, established on March 13, 2018, consists of one non-executive director and two independent non-executive directors, with responsibilities including reviewing financial statements and monitoring the effectiveness of internal controls[103]. - The company has adopted a share option plan effective from March 13, 2018, allowing for the issuance of up to 105,600,000 shares, representing 10% of the total issued share capital[98]. - The company did not declare an interim dividend for the period, maintaining the same stance as the previous period[40]. Financial Risks - The group continues to face various financial risks, including interest rate risk, credit risk, and liquidity risk[54]. - The company did not hold any significant investments or make any major acquisitions or disposals of subsidiaries during the reporting period[31]. - The company has not granted, exercised, canceled, or lapsed any share options under the share option plan since its effective date[98]. - The company did not recommend the payment of an interim dividend for the six months ended June 30, 2021, compared to no dividend in the previous period[102].

Financial Performance - The group's revenue increased by approximately 107% from about HKD 180.4 million in the previous reporting year to approximately HKD 373.5 million during the reporting period[8]. - EBITDA for the reporting period was approximately HKD 7.3 million, a significant improvement of 194.5% compared to a loss of approximately HKD 7.75 million in the previous reporting year[8]. - Net loss for the reporting period decreased to approximately HKD 652,000, compared to a net loss of approximately HKD 12.7 million in the previous reporting year[8]. - The group's revenue for the reporting period was approximately HKD 373.5 million, an increase of about 107% compared to HKD 180.4 million in the previous reporting year[20]. - The revenue from the foundation and superstructure construction segment was approximately HKD 189.0 million, accounting for about 50.6% of total revenue, up from HKD 177.8 million in the previous year[14]. - The construction materials trading segment generated revenue of approximately HKD 119.5 million, representing about 32% of total revenue, with no revenue reported in the previous year[17]. - The health and medical services segment saw revenue increase by approximately HKD 58.5 million, accounting for about 15.7% of total revenue, with no revenue reported in the previous year[18]. - The property management segment's revenue was approximately HKD 5.9 million, contributing about 1.6% to total revenue, with no revenue reported in the previous year[16]. - The group recorded a gross profit of approximately HKD 5.2 million, a decrease of about 26.7% compared to the previous reporting year, primarily due to reduced revenue from the COVID-19 pandemic and unexpected complexities in construction projects[22]. - Other income and net gains decreased to approximately HKD 3.2 million, down about 25.6% from approximately HKD 4.3 million in the previous year, mainly due to a reduction in machinery rental income by approximately HKD 3 million[23]. - Administrative and other operating expenses increased by approximately 32.5% from about HKD 36.3 million to approximately HKD 27.4 million, primarily due to new employee recruitment costs for developing new business segments[24]. - Income tax expenses rose by approximately 114.3% to about HKD 4.5 million from approximately HKD 2.1 million in the previous year, mainly due to deferred tax expenses related to land appreciation tax on investment properties[25]. - The company reported a loss attributable to owners of HKD 12,687,000 for the year, compared to a loss of HKD 749,000 in the previous period[196]. - The company's equity attributable to owners increased to HKD 162,355,000 from HKD 160,714,000, showing stability in shareholder value[192]. - The company has a cash and bank balance of HKD 53,757,000, down from HKD 114,462,000, indicating a need for cash management strategies[190]. Market and Business Expansion - The Chinese food and grocery market is expected to exceed RMB 4.7 trillion annually, indicating strong growth potential for the group[9]. - The company aims to expand its agricultural products and food supply chain business in 2021, including opening restaurants and providing logistics services[9]. - The group plans to leverage its smart logistics advantages and resources from its parent company to enhance its supply chain efficiency[9]. - The group will continue to seek attractive growth opportunities in China and other regions to deliver long-term financial returns to shareholders[8]. - The group aims to expand its construction business in China and explore diversified business opportunities in areas such as real estate development and smart logistics[11]. - The group is optimistic about the prospects of the Chinese market and believes that the development of upstream and downstream business chains will bring synergistic benefits[11]. - The company plans to focus on market expansion and new product development as part of its future strategy[196]. Construction and Development Projects - The group has expanded its construction-related business chain in China, including property management and health services[8]. - The group has acquired a property management company for a total consideration of RMB 3 million (approximately HKD 3.51 million), which will expand its market share in the property management services industry in China[16]. - The group plans to complete the "Rural Health and Wellness Complex" project in Zhejiang, China, by December 2021, with a total construction area of approximately 37,356 square meters[15]. - As of December 31, 2020, the company has a new development project in Zhejiang Province, China, covering a total site area of approximately 27,920 square meters and a total construction area of about 37,356 square meters[60]. Employee and Operational Management - The number of employees increased to 382 as of December 31, 2020, from 64 as of March 31, 2020, with total employee costs for the reporting period amounting to approximately HKD 30.1 million, up from approximately HKD 25.2 million in the previous year[34]. - The employee turnover rate during the reporting period was approximately 13.2%, with a male turnover rate of 18.7% and no female employees leaving[163]. - The group employed a total of 382 employees as of December 31, 2020, with a gender distribution of 255 males and 127 females[159]. - The group provides training and development programs to enhance employee skills and knowledge, including sponsorship for external training[166]. - The group has established an OHSAS 18001:2007 certified occupational health and safety management system to ensure a safe working environment[164]. - The group is dedicated to creating a safe, healthy, and comfortable working environment, fully complying with applicable laws and regulations[164]. Environmental and Sustainability Efforts - The company implemented BEAM Plus environmental certification for several projects, demonstrating its commitment to sustainable development[144]. - An ISO 14001:2015 certified environmental management system was established to enhance the company's ability to manage environmental impacts[145]. - The company is actively seeking to improve its operational efficiency and resource utilization to enhance its sustainability performance[141]. - The company maintained a commitment to environmental regulations and reported no significant non-compliance issues regarding air and greenhouse gas emissions, noise control, or waste management during the reporting period[155]. - The company encourages employees to adopt water-saving habits and has established wastewater treatment facilities on construction sites to recycle water for dust suppression and cleaning[152]. - The company has implemented various energy-saving measures, including the use of LED lighting and energy-efficient appliances, to optimize energy consumption in both office and construction sites[153]. Corporate Governance and Compliance - The company has a strong governance structure with a diverse board of directors and senior management team[45]. - The board consists of seven members, including two executive directors, two non-executive directors, and three independent non-executive directors, ensuring a balanced skill set and experience[107]. - The company has adopted a board diversity policy, considering factors such as gender, age, cultural background, and professional experience in board member selection[109]. - The company has maintained compliance with all applicable corporate governance code provisions during the reporting period[101]. - The board is committed to high standards of corporate governance to protect shareholder interests and enhance shareholder value[101]. - The company has established a whistleblowing policy to encourage employees to report any suspected corruption or misconduct without fear of retaliation[171]. Audit and Financial Reporting - The audit opinion confirms that the consolidated financial statements fairly reflect the group's financial position as of December 31, 2020[174]. - Key audit matters include the recognition of revenue and costs related to construction contracts, which involve significant estimates and judgments by management[178]. - The company identified the valuation of investment properties as a key audit matter due to significant estimates and judgments involved in the valuation process[180]. - The auditor assesses the appropriateness of accounting policies and estimates made by the board of directors[185]. - The independent auditor's report is issued by the auditing firm, confirming compliance with ethical requirements and independence[186]. Risks and Challenges - The company faces potential penalties ranging from RMB 5,000 to RMB 30,000 for construction without the necessary permits, which could impact its financial performance[58]. - The company’s property development business is subject to fluctuations in the Chinese real estate market, influenced by government macroeconomic control measures[60]. - The company must comply with extensive environmental, health, and safety laws, which may impose significant burdens or costs[59]. - The company’s ability to maintain its business licenses is critical, as failure to comply with regulations could lead to suspension or revocation of these licenses[59]. - The company faces significant development risks that may delay the completion or delivery of property development projects, which could take over a year before generating cash flow[62].