Financial Performance - The company recorded a revenue of approximately HKD 543,276,000 for the year ended December 31, 2018, representing a significant increase of about 94% compared to HKD 279,889,000 in the previous year[6]. - Gross profit for the year was approximately HKD 122,381,000, up 56% from HKD 78,216,000 year-on-year[6]. - Net profit attributable to owners reached approximately HKD 43,690,000, a 38% increase from HKD 31,641,000 in the prior year[6]. - The company’s basic earnings per share were approximately HKD 0.80, compared to HKD 0.60 for the year ended December 31, 2017[6]. - The digital video business achieved a revenue of approximately HKD 256,988,000, representing a substantial increase of about 55% compared to HKD 165,788,000 in the previous year[29]. - The new energy vehicle business reported a revenue of approximately HKD 271,205,000, a remarkable increase of about 144% from HKD 111,249,000 in 2017[30]. - The cloud ecosystem big data business generated revenue of approximately HKD 4,956,000, reflecting a significant increase of about 123% from HKD 2,227,000 in the previous year[32]. - Profit before tax increased to HKD 53.267 million, representing a 60.8% rise from HKD 33.116 million in the previous year[166]. - The total comprehensive income for the year ended December 31, 2018, was HKD 437,389,000, compared to HKD 43,690,000 in 2017, indicating a significant increase[175]. Cash Flow and Financial Position - Cash and cash equivalents at year-end were approximately HKD 42,627,000, down from HKD 123,888,000 in the previous year[6]. - The company reported a net cash outflow from investing activities of HKD 283,569,000 for the year ended December 31, 2018, compared to HKD 559,105,000 in 2017[178]. - Operating cash flow for the year ended December 31, 2018, was HKD 171,059,000, a turnaround from a cash outflow of HKD 347,111,000 in 2017[176]. - The company’s total liabilities as of December 31, 2018, were approximately HKD 343,351,000, raising concerns about its ability to continue as a going concern[182]. - The group recorded net current liabilities of approximately HKD 343,351,000 as of December 31, 2018, indicating significant uncertainty regarding the company's ability to continue as a going concern[143]. - The company’s total equity as of December 31, 2018, was HKD 462.976 million, up from HKD 437.389 million in 2017[170]. Investments and Acquisitions - The company completed the acquisition of a 46% stake in Heilongjiang New Oasis Real Estate Development Co., which will become an associate company focused on property development in Harbin, China[12]. - The company completed the acquisition of 46% equity in Heilongjiang New Oasis Real Estate Development Co., Ltd. for RMB 142,600,000[20]. - The company has invested in 4,400,000 shares of Hangzhou Eastern Software Park Co., Ltd. at a total cost of RMB 24,860,000, indicating potential future collaboration[22]. Corporate Governance - The board emphasized the importance of corporate governance and compliance with listing rules, ensuring shareholder interests are protected[40]. - The company confirmed adherence to the securities trading code of conduct, with all directors complying with the established standards[46]. - The board consists of three executive directors and three independent non-executive directors, with independent directors accounting for 50% of the board[51]. - The company has a diversity policy aiming for at least one-third of board members to be independent non-executive directors and at least one member with accounting or other professional qualifications[58]. - The board meets at least four times a year, ensuring all directors receive sufficient notice to attend meetings[56]. - The company has received annual confirmations of independence from all current independent non-executive directors[53]. - The company is in the process of appointing a new independent non-executive director following the resignation of one director, ensuring compliance with listing rules within three months[52]. - The board is responsible for overall strategic planning and monitoring financial performance, ensuring good corporate governance[48]. Risk Management - The company actively monitors risks related to the electric vehicle business, including industry trends, competition, and regulatory changes[111]. - The company faces foreign exchange risks as its operations are primarily in mainland China, with revenues generally settled in RMB, while reporting in HKD[113]. - Credit risk is managed through procedures for debt recovery and credit checks on new customers[115]. - The company emphasizes liquidity risk management to ensure sufficient cash flow and reserves to meet financial obligations[116]. Shareholder Communication - The company has established a shareholder communication policy to ensure transparent and timely communication with shareholders[85]. - The last annual general meeting was held on June 4, 2018, with all resolutions presented being approved by shareholders[85]. - The company allows shareholders holding at least 10% of the paid-up capital to request a special general meeting within two months of submission[83]. Environmental and Compliance - The company has implemented various measures to promote environmental protection, although no formal environmental policy is in place[135]. - There is no evidence of significant violations of relevant laws and regulations affecting the company during the reporting period[136]. - The company is committed to corporate governance practices and has adopted principles outlined in its annual report[134]. Board Meetings and Committees - The board held four meetings during the year to review the group's performance and formulate business strategies, including the approval of the annual results for the year ended December 31, 2017, and the interim results for the six months ended June 30, 2018[59]. - The audit committee held two meetings to review the audited financial statements for the year ended December 31, 2017, and the unaudited financial statements for the six months ended June 30, 2018[62]. - The remuneration committee convened one meeting to review the remuneration packages of all directors and senior management, ensuring no director participated in deciding their own remuneration[63]. - The nomination committee held one meeting to review the qualifications and performance of existing directors and assess the independence of independent non-executive directors[69]. - The attendance rate for board meetings was 100% for all directors, indicating strong engagement and commitment[60]. - The audit committee serves as a vital link between the board and the company's auditors, ensuring effective external audit and risk assessment[61]. Accounting Policies - The group adopted all new and revised Hong Kong Financial Reporting Standards effective from January 1, 2018, with no significant changes to accounting policies or reported amounts for the current and prior years[186]. - The application of HKFRS 9 and HKFRS 15 has been retrospectively applied, affecting the reported amounts in the consolidated financial statements[187]. - The consolidated financial statements are prepared based on historical cost convention, with adjustments for investments measured at fair value[189]. - The group evaluates control based on the ability to influence returns through power over the relevant activities of an entity[191].