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，概不對因本公告全部或任 何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 * 僅供識別 中國金融租賃集團有限公司 （於開曼群島註冊成立之有限公司） （股份代號： ） 截至二零二四年六月三十日止六個月之 中期業績 中期業績 中國金融租賃集團有限公司（「本公司」）董事（「董事」）會（「董事會」）宣佈本公司 及其附屬公司（統稱「本集團」）截至二零二四年六月三十日止六個月之未經審核簡 明業績。未經審核簡明中期財務報表並未經由本公司之核數師審核，但已經由本 公司審核委員會審閱。 簡明綜合損益及其他全面收益表 截至二零二四年六月三十日止六個月 | --- | --- | |--------------------------------|--------------------------------| | | | | 二零二四年 六月三十日 止六個月 | 二零二三年 六月三十日 止六個月 | | （未經審核） 千港元 | （未經審核） 千港元 | | | | | 360 1 | 353 ...

Market Performance - In 2023, the Hong Kong IPO market saw only 68 successful listings, raising approximately HKD 46 billion, a significant decline of 56% compared to 2022[8]. - The Hang Seng Index (HSI) dropped 13.8% to close at 17,047, while the Hang Seng Tech Index fell 8.8% to 3,764, reflecting a challenging investment environment[17]. - The performance of the Hong Kong stock market in 2023 was notably poor compared to other markets, with significant capital outflows to regions like Japan and India[17]. - The economic outlook remains challenging due to ongoing sell-offs in the Hong Kong and China stock markets, with investor confidence at a historical low[13]. Economic Growth - The China economy grew by 5.2% in 2023, meeting government targets but falling short of market expectations for a stronger recovery post-COVID[9]. - The Central Government's stimulative economic policies had a short-lived positive impact, with consumer confidence remaining weak throughout the year[9]. Investment Strategy and Performance - The Group's investment strategy focuses on short to medium-term capital appreciation through a diversified portfolio of listed and unlisted securities[16]. - The Group recorded a net fair value loss on listed investments of approximately HKD 4,951,000 for the year ended December 31, 2023[17]. - The Group reported a loss for the year of approximately HK$7,967,000, significantly reduced from HK$20,502,000 in 2022, primarily due to operating expenses and equity investment losses[23][25]. - The Group maintains a sound financial position with liquid investments in its portfolio, positioning itself to capture future investment opportunities[13]. - The Group plans to maintain appropriate investment strategies and continuously monitor market changes to optimize its investment portfolio[21][24]. Financial Results - As of December 31, 2023, the carrying value of the Group's listed equity investments was approximately HK$58,951,000, an increase from HK$45,913,000 in 2022[22][25]. - The Group recorded sales proceeds from disposals of trading listed equity securities of approximately HK$99,688,000 for the year ended December 31, 2023, compared to HK$57,553,000 in 2022[23][25]. - The realized losses on financial assets at FVTPL for the year ended December 31, 2023, were approximately HK$7,165,000, down from HK$10,396,000 in 2022[23][25]. - The unrealized gains for the same period were approximately HK$2,214,000, compared to unrealized losses of HK$5,648,000 in 2022[23][25]. Corporate Governance - The company has adopted the corporate governance code as per the Listing Rules and has complied with most provisions, except for the separation of the roles of Chairman and CEO[129]. - The Board consists of five Directors, including two executive Directors and three independent non-executive Directors, ensuring strong independence[138]. - Three out of the five Directors are independent non-executive Directors, exceeding the requirement that at least one-third of the Board must be independent[147]. - The company has established mechanisms to ensure independent views and input are available to the Board, which will be reviewed annually[149]. - The independent non-executive Directors possess extensive experience in various fields, providing strong support for the Board's responsibilities[145]. Employee and Director Compensation - Total employee benefits expenses (excluding Directors' emoluments) were approximately HK$722,000, a decrease from HK$838,000 in 2022[97]. - Directors' emoluments for the year ended December 31, 2023, were approximately HK$1,107,000, compared to HK$963,000 in 2022[97]. - The Group's remuneration policy is reviewed annually, and employees are compensated based on performance, experience, and market practices[97]. Risk Factors - External macro factors, including high geopolitical risks and a sluggish mainland economy, are identified as major risks affecting the investment market[21][24]. - The Hong Kong and China stock markets are considered technically oversold but lack positive stimulus for recovery[21][24]. Shareholder Engagement - Shareholders holding not less than one-tenth of the paid-up capital may requisition a general meeting, with specific procedures outlined for submission[199]. - If the Board does not convene a general meeting within twenty-one days of a requisition, the requisitionist may convene the meeting themselves[200].

Financial Performance - The total revenue for the year ended December 31, 2023, was HKD 758,155,000, compared to HKD 155,000,000 in 2022, representing a significant increase[3]. - The operating loss for the year was HKD 7,952,000, a reduction from the operating loss of HKD 20,481,000 in the previous year, indicating improved operational efficiency[3]. - The net loss attributable to the owners of the company for the year was HKD 7,967,000, down from HKD 20,502,000 in 2022, reflecting a 61% improvement[3]. - The basic and diluted loss per share for the year was HKD 4.40, compared to HKD 11.32 in the previous year, showing a reduction in loss per share[4]. - The group recorded a net loss attributable to shareholders of approximately HKD 7,967,000 for the year ended December 31, 2023, compared to a loss of HKD 20,502,000 in 2022, representing a significant improvement[32]. - The group’s operating expenses and losses from equity investments were the primary contributors to the annual loss[45]. Asset and Equity Position - Total assets less current liabilities amounted to HKD 60,170,000, down from HKD 68,230,000 in 2022, indicating a decrease in net asset value[6]. - The net asset value attributable to the owners of the company was HKD 60,170,000, compared to HKD 68,137,000 in the previous year, reflecting a decline in equity[6]. - The group’s total assets amounted to approximately HKD 60,170,000 as of December 31, 2023, down from HKD 68,137,000 in 2022[37]. - The company maintained cash and cash equivalents of approximately HKD 1,179,000 as of December 31, 2023, down from HKD 22,933,000 in 2022[68]. Revenue Sources - Dividend income for 2023 was HKD 473,000, up from HKD 150,000 in 2022, indicating a year-over-year increase of 215.3%[25]. - Interest income from bank deposits rose to HKD 239,000 in 2023, compared to HKD 5,000 in 2022, reflecting a substantial increase of 4,680%[25]. - The total proceeds from the sale of securities amounted to approximately HKD 99,688,000 in 2023, compared to HKD 57,553,000 in 2022, marking an increase of 73.4%[25]. - The group recognized other income of HKD 22,000 in 2023, which includes government grants and brokerage commission rebates, compared to no other income in 2022[28]. Investment Strategy - The company continues to focus on diversifying its investment portfolio in listed and unlisted securities for capital appreciation[7]. - The group identified only one operating segment, which is investment in listed and unlisted securities, with no significant revenue from regions outside Hong Kong[27]. - The group plans to continue optimizing its investment portfolio and implementing risk management policies to enhance shareholder returns amid external macroeconomic uncertainties[43]. - The company is actively exploring investment opportunities to broaden its revenue base and enhance future financial performance and profitability[64]. Financial Reporting and Standards - The group has not applied any new or revised Hong Kong Financial Reporting Standards that are effective after January 1, 2023, and expects no significant impact on the consolidated financial statements[23]. - The group has adopted the revised Hong Kong Accounting Standard 12, which had no significant impact on the financial position and performance for the year[17]. - The group anticipates that the implementation of the revised accounting standards will not have a material effect on the consolidated financial statements in the foreseeable future[24]. Shareholder Information - The total number of issued shares is 173,448,741, with a par value of HKD 0.04 per share[70]. - The company completed a rights issue on February 20, 2024, issuing 173,448,741 shares at a net price of approximately HKD 0.11 per share, raising total proceeds of about HKD 20,860,000[74]. - The board does not recommend the payment of a final dividend for the year ended December 31, 2023, consistent with the previous year[82]. Employee and Operational Costs - The total employee benefits expense for the year ended December 31, 2023, was approximately HKD 722,000, a decrease from HKD 838,000 in 2022[76]. - Financial costs related to lease liabilities decreased to HKD 15,000 in 2023 from HKD 21,000 in 2022, showing a reduction of 28.6%[28]. Market and Economic Conditions - The company noted that despite a challenging economic environment, it continues to secure government contracts due to its strong track record and multiple licenses[57]. - The company plans to integrate VR, augmented reality, and artificial intelligence into its services to expand its market reach and improve educational support[60].

Financial Performance - Revenue for the six months ended 30 June 2023 was HK$353,000, compared to HK$43,000 for the same period in 2022, representing an increase of 720.93%[5]. - Net loss on financial assets at fair value through profit or loss improved to HK$2,376,000 from HK$9,130,000, a reduction of 73.93%[5]. - Loss from operations decreased to HK$3,609,000 from HK$11,048,000, reflecting a 67.24% improvement[6]. - Loss attributable to owners of the Company for the period was HK$3,618,000, down from HK$11,055,000, indicating a 67.24% reduction[6]. - The company reported a total comprehensive income loss of HK$3,618,000 for the six months ended June 30, 2023, compared to a loss of HK$20,502,000 for the entire year of 2022[14]. - For the six months ended June 30, 2023, the loss before income tax was approximately HK$3,618,000, a decrease from HK$11,055,000 for the same period in 2022, representing a reduction of about 67.24%[54][57]. - Basic loss per share for the period was approximately HK$0.0208, compared to HK$0.0638 for the same period in 2022, reflecting a decrease of about 67.24%[54][57]. - The Group recorded a loss of approximately HK$3,618,000, compared to a loss of HK$11,055,000 in 2022[100]. Assets and Liabilities - Total assets less current liabilities as of 30 June 2023 were HK$64,519,000, compared to HK$68,230,000 at the end of 2022, a decrease of 5.03%[10]. - Net assets as of 30 June 2023 were HK$64,519,000, down from HK$68,137,000, representing a decline of 5.03%[12]. - Current assets as of 30 June 2023 totaled HK$64,678,000, down from HK$68,871,000, a decrease of 6.43%[10]. - As of June 30, 2023, total equity decreased to HK$64,519,000 from HK$68,137,000 at the end of 2022, reflecting a decline of approximately 3.8%[14]. - The accumulated losses as of June 30, 2023, were HK$298,687,000, slightly improved from HK$295,069,000 at the end of 2022[14]. - The Group had net assets of approximately HK$64,519,000 as of June 30, 2023, compared to HK$68,137,000 as of December 31, 2022[162]. - The Group had no interest-bearing liabilities, resulting in a gearing ratio of zero[162]. Cash Flow - The net decrease in cash from operating activities for the six months ended June 30, 2023, was HK$4,750,000, an improvement from a net decrease of HK$10,790,000 in the same period of 2022[16]. - Cash and cash equivalents at the end of the period were HK$18,041,000, compared to HK$10,188,000 at the end of June 30, 2022, indicating a year-over-year increase of approximately 77.5%[16]. - As of June 30, 2023, the Group maintained bank and cash balances of approximately HK$18,041,000, down from HK$22,933,000 as of December 31, 2022[161]. Share Capital and Equity - The capital reduction resulted in a decrease of HK$43,940,000 in share capital, with total comprehensive income for the year reflecting a loss of HK$20,502,000[14]. - The company issued shares during the rights issue, resulting in an increase of HK$43,940,000 in share capital[14]. - The total number of issued shares remained at 173,448,741 as of June 30, 2023[165]. - The share consolidation became effective on September 21, 2022, with 115,632,494 consolidated shares issued on October 27, 2022[171]. Investments - The gross proceeds from trading of listed equity securities for the period amounted to approximately HK$58,186,000, an increase from HK$49,347,000 in 2022, reflecting a growth of about 15%[38]. - The realized gains on financial assets at fair value through profit or loss for the six months ended June 30, 2023, were approximately HK$3,806,000, compared to realized losses of HK$10,517,000 in 2022, indicating a turnaround in performance[38]. - The unrealized losses on financial assets at fair value through profit or loss for the same period were approximately HK$6,182,000, compared to unrealized gains of HK$1,387,000 in 2022, highlighting volatility in the market[38]. - The total fair value of the Group's investments as of June 30, 2023, was approximately HK$46,612,000, an increase from HK$45,913,000 as of December 31, 2022[101]. - The total cost of investments was HK$76,474,000, with a fair value of HK$46,612,000, representing a 72.24% of the group's net assets[107]. - The total unrealized loss from all investments amounted to HK$8,998,000 for the six months ended June 30, 2023[107]. Taxation - The Group had unused tax losses of approximately HK$361,936,000 as of June 30, 2023, slightly down from HK$363,390,000 at the end of 2022, indicating a decrease of about 0.4%[52][56]. - The Group did not recognize any deferred tax assets related to the unused tax losses due to the unpredictability of future profit streams[52][56]. - There were no provisions made for Hong Kong profits tax for the six months ended June 30, 2023, as there was no estimated assessable profit, consistent with the previous year[51][56]. Management and Governance - The company adopted new and revised Hong Kong Financial Reporting Standards effective from January 1, 2023, which did not have a material effect on the financial statements[23]. - The company has maintained the same accounting policies as in the 2022 annual consolidated financial statements, with some expected changes to be reflected in the 2023 annual financial statements[18]. - The Group did not declare an interim dividend for the six months ended June 30, 2023, consistent with the previous year[89]. - The board of Directors resolved not to declare an interim dividend for the six months ended June 30, 2023[187]. Market Conditions - The Hang Seng Index (HSI) dropped 4.4% to close at 18,916, while the Hang Seng Tech Index fell 5.3% to 3,911 during the first half of 2023[95]. - The Hong Kong stock market was one of the worst-performing financial markets globally in the first half of 2023, with sluggish turnover figures[93]. - The performance of the Chinese economy is expected to be a key factor influencing local market performance in the second half of 2023[96]. Other Income - Other income for the six months ended June 30, 2023, totaled HK$20,000, compared to HK$16,000 in 2022, showing a slight increase[45]. - The group received dividends totaling HK$96,000 from its investments during the six months ended June 30, 2023[107].

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，概不對因本公告全部或任何 部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 CHINA FINANCIAL LEASING GROUP LIMITED 中 國 金 融 租 賃 集 團 有 限 公 司 * （於開曼群島註冊成立之有限公司） （股份代號：2312） 截至二零二三年六月三十日止六個月之 中期業績 中期業績 中國金融租賃集團有限公司（「本公司」）董事（「董事」）會（「董事會」）宣佈本公司及 其附屬公司（統稱「本集團」）截至二零二三年六月三十日止六個月之未經審核簡明 綜合業績。未經審核簡明綜合中期財務報表並未經由本公司之核數師審核，但已經 由本公司審核委員會審閱。 簡明綜合損益及其他全面收益表 截至二零二三年六月三十日止六個月 截至 截至 二零二三年 二零二二年 六月三十日 六月三十日 止六個月 止六個月 （未經審核） （未經審核） ...

Economic Performance - In 2022, China's GDP grew by 3%, missing the official target of 5.5%[10] - The Hang Seng Index dropped from 23,397 at the end of 2021 to 14,687 at the end of October 2022, a decrease of 37.2%[20] - The S&P 500 index fell by 24.8% during the first nine months of 2022[20] - The investment environment in 2022 was challenging due to factors such as the Omicron variant, US rate hikes, and a sluggish mainland economy[9] Property Market Challenges - The mainland property market faced a credit crunch, leading to significant asset liquidations and anticipated losses for many companies in the sector[14] - The debt crisis in the mainland property industry significantly impacted cash inflows and led to difficulties in debt repayment for many firms[14] Company Financial Position - The company reported a strengthened financial position, enabling continued investment in a diversified portfolio of listed and unlisted securities[19] - As of December 31, 2022, the carrying value of the Group's listed equity investments was approximately HK$45,913,000, up from HK$25,764,000 in 2021[25][28] - The Group recorded sales proceeds from disposals of trading listed equity securities of approximately HK$57,553,000 for the year ended December 31, 2022, compared to HK$22,457,000 in 2021[26][28] - The Group's loss for the year was approximately HK$20,502,000, significantly reduced from HK$51,597,000 in 2021, primarily due to operating expenses and equity investments losses[26][28] Investment Strategy - The company aims to explore new investment opportunities to enhance shareholder returns as it continues its prudent investment approach[15] - The company focuses on short to medium-term capital appreciation through a diversified investment strategy[19] - The Group aims to enhance investment returns for shareholders by exploring both listed and unlisted investment opportunities[24][27] Market Outlook - The outlook for 2023 suggests continued market volatility, with a focus on identifying undervalued sectors and stocks[24][27] - The market experienced a significant rebound in late 2022, with the Hang Seng Index rallying approximately 5,000 points during November and December[23][24] Corporate Governance - The Group is committed to maintaining good corporate governance standards to enhance shareholder value[133] - The company emphasizes sustainable growth and development to create value for stakeholders[143] - The Board consists of four Directors, including one executive Director and three independent non-executive Directors, ensuring strong independence[146] Board and Committee Activities - The Board held 13 meetings during the year ended December 31, 2022, reviewing operational and financial performance, and approving annual and interim results[165] - The Audit Committee conducted 3 meetings, reviewing the Group's unaudited interim results for the six months ended June 30, 2022, and audited annual results for the year ended December 31, 2021[178] - The Nomination Committee, established on December 21, 2011, is responsible for reviewing the Board's structure, size, and composition, and ensuring a balance of skills and experience[181] Employee and Gender Diversity - The employee gender ratio of the Group as of December 31, 2022, is 50:50, reflecting the company's commitment to gender diversity across all levels[196] - The company aims to appoint at least one director of a different gender by December 31, 2024, to enhance gender diversity on the Board[191] Financial Reporting and Audit - The Audit Committee oversees the Group's financial reporting system and internal control procedures, ensuring compliance with relevant regulations[197] - The remuneration paid to the Company's auditor for audit services was 0.355 million, and for non-audit services, it was 0.150 million[199]

Financial Performance - Revenue for the six months ended June 30, 2022, was HK$43,000, a decrease of 51.6% compared to HK$88,000 for the same period in 2021[3] - Loss from operations for the six months ended June 30, 2022, was HK$11,048,000, significantly improved from a loss of HK$29,364,000 in the same period of 2021, representing a reduction of 62.4%[4] - Loss before income tax for the six months ended June 30, 2022, was HK$11,055,000, down from HK$29,589,000 in the previous year, indicating a 62.7% improvement[4] - Loss for the period attributable to owners of the Company was HK$11,055,000, compared to HK$29,589,000 for the same period in 2021, reflecting a 62.7% decrease[4] - Administrative expenses for the six months ended June 30, 2022, were HK$1,978,000, a reduction from HK$2,353,000 in the same period of 2021, indicating a decrease of 15.9%[4] - For the six months ended June 30, 2022, the Group recorded a loss of approximately HK$11,055,000, a decrease from HK$29,589,000 in the same period of 2021[83] Assets and Liabilities - Net current assets as of June 30, 2022, were HK$35,127,000, down from HK$46,358,000 at the end of 2021, a decrease of 24.0%[6] - Total assets less current liabilities as of June 30, 2022, were HK$35,695,000, compared to HK$46,522,000 at the end of 2021, representing a decline of 23.4%[6] - Net assets as of June 30, 2022, were HK$35,466,000, down from HK$46,522,000 at the end of 2021, a decrease of 23.7%[7] - Share capital remained unchanged at HK$46,253,000 as of June 30, 2022[7] - Net asset value per share decreased to 15.34 HK cents as of June 30, 2022, from 20.12 HK cents at the end of 2021, a decline of 23.5%[7] Cash Flow - For the six months ended June 30, 2022, the net decrease in cash from operating activities was HK$10,790,000, compared to a decrease of HK$1,536,000 for the same period in 2021[11] - The cash and cash equivalents at the end of the period were HK$10,188,000, down from HK$14,794,000 at the end of the same period in 2021, representing a decrease of approximately 31.4%[11] - The cash flow from financing activities showed a net decrease of HK$137,000 in the first half of 2022, contrasting with a net increase of HK$16,216,000 in the same period of 2021[11] - The cash and cash equivalents at the beginning of the period were HK$21,125,000, compared to HK$120,000 at the beginning of the same period in 2021, indicating a substantial increase[11] Investments - Revenue from trading of listed equity securities for the period amounted to approximately HK$49,347,000, significantly up from HK$3,195,000 in 2021, indicating an increase of approximately 1435%[26] - The realised losses on financial assets at fair value through profit or loss for the six months ended June 30, 2022 were approximately HK$10,517,000, compared to HK$2,328,000 in 2021, reflecting an increase of approximately 352%[26] - The unrealised gains on financial assets at fair value through profit or loss were approximately HK$1,387,000 for the six months ended June 30, 2022, compared to an unrealised loss of HK$24,771,000 in 2021, indicating a significant turnaround[26] - The Group has identified only one operating segment, which is investment in listed and unlisted securities, with no separate analysis of segment information by business segment presented[29] Taxation and Grants - The Group reported government grants of HK$16,000 for the six months ended June 30, 2022, compared to none in the previous year[34] - As of June 30, 2022, the Group had unused tax losses of approximately HK$354,855,000, an increase from HK$347,292,000 as of December 31, 2021, indicating a growth of about 2.3%[38][40] - The Group did not recognize any deferred tax assets for the unused tax losses due to the unpredictability of future profit streams[38][40] - There were no significant deferred tax liabilities reported as of June 30, 2022, consistent with the previous year[39][41] Share Capital and Structure - The Group's issued and fully paid ordinary shares remained at 231,264,988 shares as of June 30, 2022, with a total share capital of HK$46,253,000[58] - The company completed a placement agreement on April 23, 2021, issuing 385,000,000 shares at HK$0.047 per share, raising approximately HK$18,100,000 in total proceeds[60] - The company proposed a capital reduction on January 27, 2022, reducing the par value of each issued share from HK$0.20 to HK$0.01 by canceling HK$0.19 per issued share, resulting in a new share structure[183] - The capital reduction, share premium reduction, and subdivision became effective on July 25, 2022, following the court's confirmation[185] - The authorized share capital remained at HK$300 million, with the number of authorized shares increasing from 1.5 billion to 30 billion after the capital reduction[188] Market Conditions - The ongoing geopolitical tensions and inflation fears have created a challenging investment environment, affecting various asset classes[77] - The Hang Seng Index dropped to an intraday low of 18,235 in mid-March 2022, closing at around 21,859 at the end of June, reflecting a 6.6% decline from the end of 2021[77] - The S&P index experienced a 20.6% drop in the first half of 2022, indicating significant weakness in the US stock market[77] - The Group's investment environment was negatively impacted by global factors, including the ongoing Russia-Ukraine conflict and inflation concerns in the US, leading to a 20.6% decline in the S&P 500 index in the first half of 2022[78] Employee and Management Compensation - As of June 30, 2022, the group had 2 employees, with total salaries (excluding directors' remuneration) for the six months ended being approximately HK$428,000, down from HK$669,000 in 2021[199] - The remuneration for key management personnel decreased to HK$492,000 for the six months ended June 30, 2022, from HK$953,000 in the same period of 2021[66]

Market Performance - The Hang Seng Index dropped 14.1% in 2021, closing at 23,397, while the S&P 500 gained 26.9% and the Shanghai Composite Index rose 4.8%[10]. - The Hang Seng TECH Index plummeted 31.6% in 2021 due to regulatory pressures and accounting requirements imposed by the US[20]. - The Hang Seng China Enterprises Index dropped 23.3% in 2021, indicating a challenging market environment[53]. Financial Performance - For the year ended December 31, 2021, the Group recorded a loss of approximately HK$51,597,000, compared to a loss of HK$19,807,000 in 2020, primarily due to operating expenses and equity investment losses[25][27]. - The carrying value of the Group's listed equity investments decreased to approximately HK$25,764,000 as of December 31, 2021, down from HK$74,514,000 in 2020[24][27]. - The Group's sales proceeds from disposals of trading listed equity securities were approximately HK$22,457,000 for the year ended December 31, 2021, compared to HK$65,477,000 in 2020[25][27]. - The realised and unrealised losses on listed investments amounted to approximately HK$45,583,000 for the year ended 31 December 2021[31]. - The Group's net assets were approximately HK$46,522,000 as of December 31, 2021, down from HK$80,477,000 in 2020[85][89]. Investment Strategy - The Group will continue to adopt a prudent investment approach and explore new investment opportunities to enhance shareholder returns[16]. - The Group's investment strategy focuses on short to medium-term capital appreciation through a diversified portfolio of listed and unlisted securities[19]. - The Group aims to leverage its strong financial position to identify sound investment opportunities amid current market weaknesses[23][26]. Economic Context - The Chinese economy's GDP grew by 8.1% in 2021, but growth slowed in the fourth quarter due to heightened Sino-US tensions[11]. - The People's Bank of China lowered the reserve ratio requirement twice in 2021 to stimulate spending and growth[11]. - The adverse impact from the COVID-19 pandemic on overseas financial markets is expected to continue easing, although geopolitical tensions may lead to market volatility[23][26]. Corporate Governance - The Company is committed to maintaining good corporate governance standards to enhance shareholder value[131]. - The Board held 12 meetings during the year ended December 31, 2021, reviewing the operation and financial performance, and approving annual and interim results[151]. - The Company has adopted a board diversity policy considering various factors such as gender, age, cultural background, education, race, professional experience, skills, knowledge, and tenure to achieve board diversity[170]. Shareholder Rights - Shareholders are entitled to requisition to convene an extraordinary general meeting if they hold not less than one-tenth of the paid-up capital carrying voting rights[193]. - The Company emphasizes the protection of shareholders' rights and interests, allowing them to attend general meetings and raise questions regarding the Group's status and development plans[192]. - Any shareholder holding at least 10% of the paid-up capital can request the Board to convene a special general meeting[199]. Losses and Expenses - Realized losses on financial assets at fair value through profit or loss for the year ended December 31, 2021, were approximately HK$33,334,000, compared to HK$54,067,000 in 2020[20]. - Unrealized losses for the same period were approximately HK$12,249,000, down from unrealized gains of HK$39,953,000 in 2020[20]. - Total employee benefits expenses (excluding Directors' emoluments) for the year ended December 31, 2021, were approximately HK$1,273,000, a decrease from HK$1,621,000 in 2020[107].

Revenue and Income - Revenue for the six months ended June 30, 2021, was HK$88,000, compared to HK$54,000 for the same period in 2020, representing a 63% increase[5] - Dividend income increased to HK$88,000 for the six months ended 30 June 2021, compared to HK$54,000 in the same period of 2020, representing a growth of 63%[27] Losses and Expenses - The net loss on financial assets at fair value through profit or loss was HK$27,099,000, significantly higher than the loss of HK$6,127,000 in the previous year[5] - Loss from operations for the period was HK$29,364,000, compared to HK$7,407,000 in the prior year, indicating a substantial increase in operational losses[5] - Loss before income tax was HK$29,589,000, up from HK$8,196,000 year-over-year[6] - The total comprehensive income for the six months ended June 30, 2021, was a loss of HK$29,589,000, compared to a loss of HK$19,874,000 for the previous year[11] - The company reported a basic and diluted loss per share of HK$1.46, compared to HK$0.43 for the same period in 2020[6] - The accumulated losses increased to HK$296,499,000 as of June 30, 2021, from HK$266,910,000 at the end of 2020[11] - The remuneration for key management personnel during the six months ended June 30, 2021, was HK$953,000, a decrease of approximately 24% from HK$1,260,000 for the same period in 2020[86] Assets and Equity - Current assets decreased to HK$73,505,000 from HK$87,636,000, a decline of 16%[7] - Net current assets were HK$68,251,000, down from HK$80,169,000, reflecting a decrease of 15%[8] - Total equity decreased to HK$68,530,000 from HK$80,477,000, indicating a reduction of 15%[9] - As of June 30, 2021, total equity amounted to HK$68,530,000, a decrease from HK$80,477,000 at the end of 2020, reflecting a change in equity of HK$11,947,000 for the period[11] - Cash and cash equivalents at the end of the period were HK$14,794,000, a substantial increase from HK$389,000 at the end of June 2020[12] - The total net assets as of June 30, 2021, are approximately HK$68,530,000, compared to HK$80,477,000 as of December 31, 2020, indicating a decline of approximately 15%[81] Cash Flow - The net decrease in cash from operating activities was HK$1,536,000, significantly improved from a net decrease of HK$34,695,000 in the same period of 2020[12] - The net increase in cash from financing activities was HK$16,216,000, compared to HK$36,216,000 in the prior year, indicating a reduction in financing inflow[12] - The company reported a net decrease in cash from investing activities of HK$6,000, compared to HK$2,255,000 in the same period last year[12] Financial Instruments and Investments - Gross proceeds from trading of listed equity securities decreased significantly to approximately HK$3,195,000 in the first half of 2021, down from HK$37,480,000 in 2020, a decline of 91.5%[27] - Realised losses on financial assets at fair value through profit or loss were approximately HK$2,328,000 for the six months ended June 30, 2021, compared to realised gains of HK$19,525,000 in 2020[27] - Unrealised losses on financial assets at fair value through profit or loss amounted to HK$24,771,000 in the first half of 2021, compared to unrealised gains of HK$13,398,000 in 2020[27] - The total fair value of the Group's investments as of June 30, 2021, was approximately HK$48,955,000, down from HK$74,514,000 as of December 31, 2020[112] - The total cost of listed investments held as at June 30, 2021 was HK$84,038,000[120] Share Capital and Financing - The total issued share capital increased to 2,312,649,882 shares as of June 30, 2021, from 1,927,649,882 shares as of December 31, 2020, reflecting an increase of approximately 20%[74] - The company completed a share placement on May 14, 2021, issuing 385,000,000 shares at a net price of approximately HK$0.046 per share, raising net proceeds of about HK$17,600,000[78] - The intended use of proceeds from the share placements was for general working capital and potential investments[194] - A share consolidation proposal was announced on July 12, 2021, to consolidate every ten existing shares into one consolidated share, resulting in 231,264,988 consolidated shares post-consolidation[198] Market Conditions and Outlook - The market outlook remains cautious due to the severity of the Delta variant of COVID-19 and increasing tensions in Sino-U.S. relations[107] - The Hang Seng Index dropped over approximately 2,300 points or 7.4% from its peak of over 31,100 points in February 2021 to around 28,800 points in June 2021[106] - The Hang Seng TECH Index fell by approximately 2,850 points or 25.9% from over 11,000 points in February 2021 to around 8,150 points at the end of June 2021[106] Tax and Regulatory Matters - As of 30 June 2021, the Group had unused tax losses of approximately HK$306,945,000 available for offset against future profits[39] - The Group did not recognize any deferred tax assets related to tax losses due to the unpredictability of future profit streams[39] - The company has adopted all new and revised Hong Kong Financial Reporting Standards effective from January 1, 2021, with no material impact on the financial statements[22]

(Incorporated in the Cayman Islands with limited liability) （於開曼群島註冊成立之有限公司） 2020 Annual Report 年報 C HINA FI NAN CIAL LEASIN G GRO UP LI MITED 中國金融租賃集團有限公司 年報 2020 Annual Report CONTENTS 目錄 2 Company Profile 公司簡介 3 Chairman's Statement 主席報告 6 Management Discussion and Analysis 管理層討論及分析 20 Corporate Governance Report 企業管治報告 36 Environmental, Social and Governance Report 環境、社會及管治報告 44 Biographical Details of Directors 董事履歷詳情 48 Report of the Directors 董事會報告書 58 Independent Auditor's Report 獨立核數師報告書 64 Consoli ...