Financial Performance - Revenue for the six months ended June 30, 2020, was HKD 226,246,000, a decrease of 7.8% from HKD 245,432,000 in the same period of 2019[8] - Gross profit for the period was HKD 50,404,000, down 16.6% from HKD 60,458,000 year-on-year[8] - Net profit after tax for the period was HKD 21,754,000, a decline of 25.1% compared to HKD 28,987,000 in the previous year[8] - Basic and diluted earnings per share were HKD 0.40, down from HKD 0.53 in the same period last year[8] - For the six months ended June 30, 2020, the total comprehensive income attributable to the company's owners was HKD 27,351, a decrease from HKD 28,987 for the same period in 2019[17] - The total profit before tax for the six months ended June 30, 2020, was HKD 28,688,000, a decrease of 12.5% from HKD 32,646,000 in 2019[32] - Profit attributable to owners for the period was approximately HKD 21,754,000, a decrease of about 24.95% from HKD 28,987,000 in the previous year[62] Assets and Liabilities - Total assets as of June 30, 2020, amounted to HKD 1,107,870,000, an increase from HKD 832,461,000 at the end of 2019[11] - Current liabilities were HKD 1,695,418,000, compared to HKD 1,423,976,000 at the end of 2019, indicating a rise in financial obligations[11] - The company's net asset value increased to HKD 533,970,000 from HKD 519,988,000 at the end of 2019[12] - The total reportable assets amounted to HKD 2,718,640,000, with the new energy vehicle business holding HKD 1,025,541,000[31] - Trade receivables decreased to HKD 270,441,000 from HKD 356,619,000, representing a decline of approximately 24.2%[44] - Trade payables decreased to HKD 185,865,000 from HKD 350,951,000, a reduction of approximately 47.1%[48] - Bank loans increased significantly to HKD 644,611,000 from HKD 196,703,000, reflecting a growth of approximately 227.5%[49] - The total loans, including other loans, amounted to HKD 656,078,000, up from HKD 279,912,000, marking an increase of approximately 134.5%[49] Cash Flow - The net cash outflow from operating activities was HKD 89,648, an improvement compared to HKD 138,367 in the previous year[15] - The net cash inflow from financing activities increased significantly to HKD 399,558, up from HKD 285,799 in 2019[15] - Cash and cash equivalents increased significantly to HKD 419,779,000 from HKD 109,248,000 at the end of 2019, reflecting improved liquidity[11] - The company’s cash and cash equivalents increased to HKD 419,779 at the end of June 2020, compared to HKD 135,157 at the end of June 2019[15] Business Segments - Total revenue from external customers for the digital video business was HKD 99,381,000, while the new energy vehicle business generated HKD 95,171,000[31] - The digital video business saw a decrease in revenue compared to the previous year, which was HKD 129,686,000, while the new energy vehicle business increased from HKD 81,290,000[31] - The company operates 48 electric vehicle charging stations in Hangzhou, with a total of 3,604 AC charging guns and 1,424 DC charging guns, indicating a strong commitment to expanding its new energy vehicle business[72] - The company plans to focus on market expansion and new product development in the upcoming quarters[8] Expenses and Tax - The company incurred a tax expense of HKD 6,934,000 for the period, compared to HKD 3,659,000 in 2019, reflecting an increase of 89.5%[40] - Depreciation expenses for property, plant, and equipment increased to HKD 23,924,000 from HKD 14,276,000, indicating a rise of 67.5%[38] - Financing costs for the six months ended June 30, 2020, were HKD 11,494,000, a decrease of 16.2% from HKD 13,736,000 in 2019[38] Corporate Governance - The company has not adopted any new accounting standards that have been issued but not yet effective, and is currently evaluating their potential impact[19] - The audit committee reviewed the accounting principles and practices adopted by the group and discussed internal controls and financial reporting matters[80] - All directors confirmed compliance with the standard code of conduct for securities trading during the six months ended June 30, 2020[78] - The company adhered to all provisions of the corporate governance code during the reporting period[79] Shareholder Information - The company did not declare any interim dividend for the six months ended June 30, 2020, consistent with the previous year[42] - No interim dividend was recommended for the six months ended June 30, 2020, consistent with the previous year[68] - The company has issued 5,472,000,000 shares with a par value of HKD 0.1, maintaining the same amount as the previous period[51] - The total remuneration paid to directors during the period was approximately HKD 780,000, compared to HKD 755,000 in the previous period, reflecting a slight increase[58]

Financial Performance - The company recorded a revenue of approximately HKD 608,698,000 for the year ended December 31, 2019, representing a 12% increase compared to HKD 543,276,000 in the previous year[6]. - Gross profit for the year was approximately HKD 107,375,000, with a gross margin decreasing from about 23% to 18%[14]. - Profit attributable to the company's owners reached approximately HKD 26,241,000, with basic earnings per share of about HKD 0.48, down from HKD 0.99 in the previous year[6]. - The company reported a total comprehensive income of HKD 17.8 million, down from HKD 35.7 million in the previous year[160]. - The net profit attributable to the owners of the company was HKD 26.2 million, a significant decline of 51.6% compared to HKD 54.2 million in 2018[160]. - The company reported a total comprehensive loss of HKD 6,515,000 for the year ended December 31, 2019, compared to a loss of HKD 17,420,000 in the previous year[171]. Cash Flow and Liquidity - Cash and cash equivalents at year-end amounted to approximately HKD 109,248,000, an increase from HKD 42,627,000 in the previous year[6]. - The company generated cash from operating activities of approximately HKD 668,295,000, compared to HKD 163,670,000 in the previous year[16]. - The company has maintained sufficient cash reserves and committed funding to meet liquidity needs[116]. - The group recorded net current liabilities of approximately HKD 591,515,000 as of December 31, 2019, indicating significant uncertainty regarding the company's ability to continue as a going concern[141]. Assets and Liabilities - As of December 31, 2019, the company's total liabilities amounted to approximately HKD 1,397,875,000, up from HKD 1,159,446,000 in the previous year[17]. - Total assets as of December 31, 2019, amounted to HKD 2,050.5 million, an increase from HKD 1,814.1 million in 2018[162]. - The company's equity attributable to owners was HKD 520.0 million, up from HKD 474.9 million in 2018[164]. - Current liabilities increased to HKD 1,424.0 million, compared to HKD 1,244.1 million in 2018[162]. Business Segments - The digital video business achieved revenue of approximately HKD 355,363,000, an increase of about 38% from HKD 256,988,000 in the previous year[29]. - The new energy vehicle business reported revenue of approximately HKD 192,609,000, down from HKD 271,205,000 in 2018[29]. - The cloud ecosystem big data business generated revenue of approximately HKD 25,169,000, representing a significant increase of about 408% from HKD 4,956,000 in 2018[30]. - The property investment business recorded revenue of approximately HKD 16,202,000, an increase of about 60% from HKD 10,127,000 in the previous year[30]. Corporate Governance - The company has adhered to the corporate governance code and has taken measures to maintain high levels of corporate governance to protect the interests of shareholders and investors[41]. - The company has confirmed that all directors complied with the standards set out in the code of conduct for securities trading during the year ended December 31, 2019[45]. - The company has decided not to establish an internal audit department temporarily due to its streamlined operational structure and potential cost burden[43]. - The company is committed to ensuring strict compliance with the listing rules and corporate governance code regulations[44]. Board Structure and Diversity - The board of directors consists of three executive directors and four independent non-executive directors as of December 31, 2019[46]. - The company has a diverse board with members possessing various professional experiences suitable for long-term management[46]. - The board consists of five members, with three being independent non-executive directors, achieving the measurable target of the board diversity policy[57]. - The company has implemented a board diversity policy, aiming for at least one member with accounting or other professional qualifications[56]. Risk Management - The board of directors is directly responsible for the group's risk management and internal control systems, with no significant issues raised for improvement[78]. - The company is actively monitoring risks related to the new energy vehicle business strategy, including economic and regulatory changes[110]. - The company has faced significant operational risks, including project delays, which may adversely affect revenue and financial performance[117]. - The company has implemented budget control management and project planning to mitigate operational risks[117]. Audit and Compliance - The company has established an audit committee to oversee financial reporting and internal control systems[135]. - The independent auditor's report highlighted the inability to conclude on the recoverability of trade receivables, which may impact the financial performance and position[140]. - The audit identified key audit matters related to the fair value measurement of investment properties and impairment testing of property, plant, and equipment[143]. - The company has engaged a qualified auditor, Zhonghui Anda CPA Limited, for the fiscal year ending December 31, 2019[137]. Shareholder Information - The company's market capitalization as of December 31, 2019, was HKD 711,360,000, with an issued share capital of 5,472,000,000 shares and a closing price of HKD 0.13 per share[82]. - Major shareholders include Alpha Century Assets Limited with 600,000,000 shares (10.96%) and 数源科技股份有限公司 with 493,206,000 shares (9.01%) as of December 31, 2019[97]. - The company has a cash dividend policy, prioritizing cash distributions to shareholders based on financial performance and other factors[105].

Financial Performance - Revenue for the six months ended June 30, 2019, was HKD 595,605,000, a significant increase from HKD 172,522,000 in the same period of 2018, representing a growth of 245%[9] - Gross profit for the same period was HKD 60,458,000, compared to HKD 51,622,000 in 2018, reflecting an increase of 17%[9] - The net profit after tax for the period was HKD 28,987,000, up from HKD 14,588,000 in 2018, marking a growth of 98%[9] - The group reported a cumulative loss of HKD (224,423,000) as of June 30, 2019, compared to HKD (295,455,000) in the previous year, indicating a reduction in cumulative losses[20] - The group's profit before tax increased to HKD 33,027,000 for the six months ended June 30, 2019, compared to HKD 20,388,000 in 2018, representing a growth of 62.0%[43] Assets and Liabilities - Total assets as of June 30, 2019, amounted to HKD 1,810,747,000, compared to HKD 1,244,149,000 at the end of 2018, indicating an increase of 45%[13] - The total equity attributable to the owners of the company was HKD 490,327,000, compared to HKD 462,976,000 at the end of 2018, reflecting an increase of 6%[18] - Trade receivables increased to HKD 581,961,000 from HKD 245,530,000, representing a growth of 136%[11] - Trade payables as of June 30, 2019, totaled HKD 759,136,000, up from HKD 326,381,000 as of December 31, 2018, reflecting a growth of 132.5%[57] - Bank loans amounted to HKD 205,369,000 as of June 30, 2019, compared to HKD 184,133,000 at the end of 2018, showing an increase of 11.8%[59] Cash Flow - The net cash outflow from operating activities for the six months ended June 30, 2019, was HKD (138,367,000), significantly higher than HKD (10,465,000) in the previous year[21] - The net cash inflow from financing activities increased to HKD 285,799,000 in the first half of 2019, compared to HKD 26,368,000 in the same period of 2018, indicating a substantial rise in financing activities[21] - The total cash and cash equivalents at the end of the period were HKD 135,157,000, up from HKD 81,498,000 at the end of June 2018, representing an increase of approximately 65.8%[21] Business Segments - Total revenue from external customers reached HKD 595,605,000, with digital video business contributing HKD 302,129,000, and new energy vehicle business contributing HKD 259,020,000[42] - The profit before tax from the digital video business was HKD 7,851,000, while the new energy vehicle business reported a profit of HKD 21,368,000[42] - Revenue from the digital video business increased significantly from HKD 93,098,000 in the previous year to HKD 302,129,000[42] - The new energy vehicle business saw a rise in revenue from HKD 74,641,000 to HKD 259,020,000 year-over-year[42] - The cloud ecosystem big data business recorded revenue of approximately HKD 8,450,000, up 197% from HKD 2,844,000 in the same period last year[83] Investments and Acquisitions - The company completed the acquisition of a 46% stake in Heilongjiang New Oasis Real Estate Development Co., which will operate as an associate company focusing on property development[40] - Approximately HKD 29,748,000 was invested in property, plant, and equipment during the period, primarily for establishing electric vehicle charging stations[54] Governance and Compliance - The company has adopted the standard code for securities trading by directors as per the listing rules, and all directors confirmed compliance during the six-month period ending June 30, 2019[90] - The company adhered to all provisions of the corporate governance code during the reporting period, with ongoing reviews of the current structure by the board[91] - The audit committee reviewed the accounting principles and practices adopted by the group and discussed internal controls and financial reporting matters[92] Dividends and Share Options - The group did not declare any interim dividend for the six months ended June 30, 2019, consistent with the previous year[53] - The company has issued 547,200,000 share options under its share option scheme as of June 30, 2019[68]

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].