Share Option Plans - The total number of shares available for issuance under the 2013 share option plan is 599,889,841 shares, accounting for approximately 9.9% of the company's issued share capital as of December 31, 2024[4]. - The 2013 share option plan has expired on May 23, 2023, and no further options can be granted under this plan[4]. - The company disclosed that there were no new options granted during the year[8]. - The company has a total of 30,000,000 options granted in 2016 at an exercise price of HKD 0.53 per share, expiring on January 28, 2017[8]. - The company has a total of 10,000,000 options that were not exercised in 2016, which have now expired[8]. - The company has provided additional information regarding the 2013 share option plan in accordance with listing rules[3]. - The total stock options granted in 2024 amounted to 258,000,000 shares, with 22,000,000 shares expiring, resulting in a net total of 236,000,000 shares available[10]. - The total stock options granted in 2015 were 52,500,000, with 43,500,000 granted in 2016, reflecting a consistent approach to employee incentives[10]. Exercise and Expiration of Options - The exercise price for the options granted in 2015 is HKD 0.61 per share, with a total of 20,000,000 options available for exercise until April 1, 2025[8]. - The company has not exercised any options during the year, with a total of 15,000,000 options remaining unexercised as of December 31, 2024[8]. - The exercise price for the stock options granted in 2016 is set at HKD 0.61 per share, while the options granted in 2017 have an exercise price of HKD 0.53[10]. - The stock options are valid for exercise until April 1, 2025, for the first batch and until January 27, 2026, for the second batch[14]. - The total number of stock options exercised in the year was zero, indicating no dilution of shares from exercised options[10]. Governance Structure - The company’s board of directors includes five executive directors and four independent non-executive directors, ensuring a diverse governance structure[13]. Employee Incentives - The company’s stock option plan is designed to align employee interests with shareholder value, promoting long-term growth[14]. - The first 30% of stock options granted in 2016 will vest starting from April 2, 2016, with subsequent tranches vesting in 2017 and 2018[14]. Financial Reporting - The company has not reported any changes to other financial data in the 2024 annual report aside from the disclosed stock options[11]. - The company’s board can decide to terminate the 2013 plan early based on its provisions[7]. - The 2013 plan was effective for ten years from its adoption date, which means it was valid until May 24, 2023[7].

Financial Performance - The Group's consolidated revenue for 2024 was approximately HK$149,945,000, representing an increase of 6.8% compared to 2023[17]. - The loss for the year increased to HK$115,575,000 in 2024, up from HK$61,721,000 in 2023[17]. - The Group's annual loss expanded to HK$115,575,000 in 2024, compared to HK$61,721,000 in 2023, while total revenue increased by 6.8% year-on-year to approximately HK$149,945,000[23]. - Operating revenue from the sales business of medical and geriatric products increased by 5.7% year-on-year to HK$135,907,000[21]. - The cost of sales increased by 12.2% year-on-year to approximately HK$114,265,000, which includes costs related to purchases, freight, installation fees, and wage expenses[87][93]. - The overall gross profit margin decreased to 23.8% from 27.4% in the previous year, attributed to a change in product mix with increased sales of lower-margin educational products[88][94]. - Other income and gains/(losses), net amounted to a loss of approximately HK$15,678,000, a significant decrease from a gain of HK$36,084,000 in the previous year, mainly due to reduced interest income and an exchange loss of HK$29,290,000[95][101]. - Selling and distribution expenses were approximately HK$14,331,000, representing 9.6% of total sales, a slight decrease from 9.9% in 2023[97][102]. - Administrative expenses decreased by 9.8% to HK$80,716,000 from HK$89,476,000 in 2023, primarily due to the implementation of a tightening expense policy[99][103]. - The Group's net assets decreased to approximately HK$1,740,426,000, down by HK$214,122,000 from HK$1,954,548,000 as of December 31, 2023[116]. - The Group's cash and cash equivalents were approximately HK$77,865,000 as of December 31, 2024, a decrease of approximately HK$75,459,000 from HK$153,324,000 as of December 31, 2023[117]. Geriatric Care Operations - The Group operated 6 geriatric care institutions with a total of 1,243 geriatric beds, including 849 medical beds[19]. - Revenue from the geriatric care business in 2024 was approximately HK$14,038,000[19]. - The average occupancy rate of the geriatric care institutions was approximately 72%[19]. - Each geriatric care institution achieved a break-even position and continued to provide positive cash flow for the Group[19]. - The Group plans to increase the number of geriatric care beds by 500 in the coming year[19]. - Revenue from the geriatric care institutions reached RMB45.08 million in 2024, representing an 8% year-on-year increase from RMB41.81 million in 2023[35]. - The overall occupancy rate for the facilities was 72% in 2024, down from 79% in 2023[39]. - In 2024, Guangyi Geriatric Care Center and Nursing Home achieved operating revenue of RMB20.74 million, with an occupancy rate of 92%[41]. - Wuhe Geriatric Care Center and Nursing Home reported operating revenue of RMB5.88 million, with a decline in occupancy rate to 57% due to renovations[43]. - Xuejia Aixin Geriatric Care Center and Nursing Home achieved operating revenue of RMB11.30 million, representing a year-on-year increase of 17% and an occupancy rate of 78%[48]. - Huifeng Geriatric Care Center reported operating revenue of RMB1.48 million, a year-on-year increase of 21%, with an occupancy rate of 44%[50]. - Wuhu Golden Sun Geriatric Care Center achieved operating revenue of RMB4.58 million, representing a year-on-year increase of 9% and an occupancy rate of 95%[52]. - The newly opened Changzhou Luoxi District Geriatric Care Center and Nursing Home has an occupancy rate of 34% since its operations began in May 2024[53]. - The occupancy rate of the newly opened Changzhou Luoxi District Geriatric Care Center is expected to gradually increase, contributing to future revenue growth[62]. Strategic Initiatives and Future Plans - The Group plans to enhance integrated medical and geriatric care services, which is expected to improve future performance[50]. - The Group signed a cooperation agreement for the Ancient Canal Cultural and Creative Building Health Care Project, which plans to establish approximately 450 integrated medical and geriatric care beds, expected to commence in the first half of 2025[59]. - The health care project in Rizhao is set to provide approximately 116 beds, focusing on integrated medical and geriatric care services[60]. - The Group's Wuxi Ancient Canal Nursing Home project is expected to add approximately 450 operating beds by 2025, enhancing urban healthcare services[78]. - The Group plans to accelerate the government approval process for the Royal Tower project in Canada to expand its real estate business despite recent interest rate hikes[79]. - The company aims to intensify the development of medical and geriatric products, focusing on the education industry and expanding sales channels in North America[80]. Corporate Governance and Compliance - The company has complied with the Corporate Governance Code throughout the year ended December 31, 2024, ensuring high standards of corporate governance[146][153]. - The Board regularly reviews the company's strategic focus to ensure alignment with its vision and corporate culture[155]. - The company has established an employee handbook to provide necessary cultural guidance to all employees[156]. - The Board currently consists of 9 members, including 5 Executive Directors and 4 Independent Non-executive Directors[159]. - The company has complied with Listing Rules regarding the appointment of at least three independent non-executive directors, representing at least one-third of the board[165]. - The Audit Committee held two meetings during the year to review financial results and compliance procedures[196]. - The Company's annual results for the year ended December 31, 2024, have been reviewed by the Audit Committee[197]. - The Audit Committee comprises four members, all of whom are Independent Non-executive Directors[195]. - All Directors confirmed compliance with the Model Code for Securities Transactions throughout the year ended December 31, 2024[188]. - The Board has established four committees: Audit Committee, Remuneration Committee, Nomination Committee, and Investment and Risk Management Committee[190]. - The majority of members of each Board committee are Independent Non-executive Directors[191]. - The Company ensures compliance with relevant legal and regulatory requirements, including the CG Code[186]. Investments and Financial Position - The Group's liquidity position remained strong with a current ratio of 4 times and net current assets of HK$414,105,000 as of December 31, 2024[118]. - The Group has contingent liabilities of up to RMB28,000,000 (approximately HK$30,238,000) as a guarantor for a bank facility granted to an associate[127]. - The Group's share of losses from a joint venture was approximately HK$13,446,000, an increase from HK$5,728,000 in 2023, primarily due to rising interest expenses[108]. - The Group's share of losses from associates included approximately HK$5,727,000 from Beijing Sports and Entertainment Industry Group Limited and HK$10,277,000 from Shanghai Junbo Textiles Limited[109]. - The Group acquired a 12.7637% equity interest in Beijing Lugang International Logistic Co., Ltd. for RMB48,000,000 (approximately HK$52,968,000) at the beginning of the year[116]. - The Group's capital expenditure increased to approximately HK$6,638,000 in 2024, compared to HK$1,372,000 in 2023[125]. - Capital expenditure for the year ended December 31, 2024, was approximately HK$6,638,000, significantly up from HK$1,372,000 in 2023, primarily for the acquisition of properties, plants, and equipment[131]. - The company had no mortgaged assets as of December 31, 2024, and December 31, 2023[132]. - The contingent liabilities related to bank financing for an associate company amounted to a maximum of RMB 28,000,000 (approximately HK$30,238,000) as of December 31, 2024, compared to RMB 28,000,000 (approximately HK$30,898,000) in 2023[133].

自2019年7月开市以来，科创板作为中国资本市场改革的"试验田"，已成为培育新质生产力的核心阵地。截至2025年2月底，科创板 上市公司达584家，总市值突破7.62万亿元，汇聚了半导体、生物医药、高端装备等领域的领军企业。（数据来源：上海证券交易 所，Wind，截至2025.2.28。） 近日，博时基金旗下上证科创板综合价格指数增强基金（A类：023891，C类：023892）正式发售。产品定位"硬科技"，聚焦突破 关键核心技术、市场认可度高的创新企业，与全球科技前沿同频共振。 从历史表现看，上证科创板综合价格指数（以下简称"科创价格"）展现出显著的成长弹性。自基日2019年12月31日至2025年4月3 日，科创价格区间回报率达15.37%，跑赢同期沪深300、中证500、上证50、科创50、科创100等主流宽基指数。 | 序号 | 证券代码 | 证券简称 | 区间涨跌幅 | | | --- | --- | --- | --- | --- | | | | | [区间首日] 2019-12-31 [区间尾日] 2025-4-3 [单位] %↓ | | | ﺍﻟ | 000681.SH | 科创价格 | | ...

Financial Performance - Total revenue for the year ended December 31, 2024, was HKD 4,149,945, an increase from HKD 140,346 in 2023[2] - Gross profit decreased to HKD 35,680 in 2024 from HKD 38,474 in 2023, reflecting a decline of approximately 4.1%[2] - The annual loss for 2024 was HKD 115,575, compared to a loss of HKD 61,721 in 2023, representing an increase in losses of approximately 87.2%[2] - Total comprehensive loss for the year amounted to HKD 158,183, compared to HKD 152,867 in 2023, indicating a slight increase of about 3.5%[4] - The group reported a pre-tax loss of HKD 116,218,000 for the year, compared to a loss of HKD 61,882,000 in 2023, indicating a worsening financial performance[29] - The group experienced a net loss of HKD 45,773,000, compared to a loss of HKD 2,721,000 in 2023, highlighting significant financial challenges[21] Assets and Liabilities - Non-current assets decreased to HKD 1,398,050 in 2024 from HKD 1,484,646 in 2023, a reduction of approximately 5.8%[5] - Current assets decreased significantly to HKD 552,116 in 2024 from HKD 693,725 in 2023, a decline of about 20.4%[5] - Current liabilities decreased to HKD 138,011 in 2024 from HKD 148,733 in 2023, a reduction of approximately 7.5%[6] - The net asset value decreased to HKD 1,740,426 in 2024 from HKD 1,954,548 in 2023, reflecting a decline of about 10.9%[6] - The group held cash and cash equivalents of approximately HKD 77,865,000 as of December 31, 2024, down from HKD 153,324,000 on December 31, 2023, mainly due to the acquisition of a 12.7637% stake in Beijing Lugang International Logistics Co., Ltd. for approximately HKD 54,535,000[70] - As of December 31, 2024, the group had no interest-bearing bank borrowings, maintaining a current ratio of 4 times with net current assets of HKD 414,105,000[70] Revenue Sources - 100% of the group's revenue is generated from customers in mainland China, with over 92% of non-current assets located in the same region[14] - Revenue from a single customer amounted to approximately HKD 10,462,000, which includes sales to a group of entities under common control[14] - Revenue from product sales was HKD 135,907,000, up from HKD 128,620,000, while service revenue increased to HKD 14,038,000 from HKD 11,726,000[17] - The group recognized revenue of HKD 40,018,000 during the year, compared to HKD 41,676,000 in 2023, reflecting a decrease in contract liabilities[17] - Expected revenue to be recognized within one year is HKD 127,203,000, down from HKD 155,165,000 in 2023, indicating a potential decline in future revenue recognition[20] Elderly Care Business - As of December 31, 2024, the group managed six elderly care institutions with a total of 1,243 beds, achieving an occupancy rate of 72% and generating revenue of RMB 45.08 million, an 8% increase from RMB 41.81 million in 2023[36] - The elderly care business is expected to benefit from China's aging population, projected to exceed 300 million by 2025 and reach 420 million by 2035, with government support for the sector[34] - The group has established a strong competitive brand "Beikang Elderly Care" and operates multiple self-managed elderly care institutions with a stable cash flow[35] - The revenue from the elderly care institutions for the year reached RMB 45.08 million, with a year-on-year growth of 8%[36] - The occupancy rate of the Wuxi Liangxi District Guangyi Elderly Care Center reached 92% in 2024, maintaining stable revenue of RMB 20.74 million[38] Cost Management - The cost of sales increased by 12.2% to approximately HKD 114,265,000, which includes procurement costs, freight, installation fees, and labor costs[59] - Administrative expenses decreased by 9.8% to HKD 80,716,000 from HKD 89,476,000 in the previous year, attributed to effective cost-cutting measures[63] - Total financing costs were approximately HKD 228,000, a decrease of 39.4% from HKD 376,000 in the previous year, mainly due to a reduction in lease liabilities[66] Governance and Compliance - The company has adopted the corporate governance code and has been compliant with the listing rules throughout the year ending December 31, 2024[80] - The audit committee has reviewed the group's annual performance for the year ending December 31, 2024[85] - The board consists of five executive directors and four independent non-executive directors, ensuring a diverse governance structure[91] Future Plans and Investments - The company plans to open a new nursing home project in Wuxi with approximately 450 operational beds by 2025[52] - The company will utilize online platforms to provide integrated value-added services, enhancing service revenue[53] - The company will not increase investments in health industrial parks in China due to regulatory pressures and will seek suitable partners for project sales[54] - The Ovation project in Canada is expected to be completed and delivered in early 2024, contributing to overseas business expansion[54] - The group is actively expanding its elderly care facilities in economically strong regions, particularly in the Yangtze River Delta, to meet growing market demand[35]

2024 INTERIM REPORT 中期報告 北京健康(控股)有限公司 Beijing Health ( Holdings ) Limited Incorporated in the Cayman Islands with limited liability 於開曼群島註冊成立之有限公司 Stock Code 股份代號 : 2389 CONTENTS 目錄 Unaudited Interim Financial Information 未經審核中期財務資料 Interim Condensed Consolidated: 中期簡明綜合： 2 Statement of Profit or Loss and Other Comprehensive Income 損益及其他全面收益表 5 Statement of Financial Position 財務狀況表 7 Statement of Changes in Equity 權益變動表 9 Statement of Cash Flows 現金流量表 12 Notes to Interim Condensed Consolidated Financial Inf ...

Financial Performance - For the six months ended June 30, 2024, the company reported a loss of HKD 57,579,000 compared to a loss of HKD 18,032,000 for the same period in 2023, representing an increase in loss of approximately 219%[2] - Total revenue for the six months ended June 30, 2024, was HKD 73,307,000, a decrease of 6.5% from HKD 78,038,000 in the same period of 2023[1] - The company's gross profit for the period was HKD 16,382,000, down from HKD 18,724,000 in the previous year, indicating a decline of 12.6%[1] - The total comprehensive loss for the period was HKD 69,439,000, compared to HKD 62,151,000 in the prior year, reflecting an increase of 11.6%[3] - The basic and diluted loss per share for the period was HKD 0.93, compared to HKD 0.26 in the same period last year, indicating a significant increase in loss per share[3] - The group reported a pre-tax loss of HKD 23,524,000 for the six months ended June 30, 2024, compared to a profit of HKD 2,586,000 in the same period of 2023[14] - Other income for the six months ended June 30, 2024, totaled HKD 12,602,000, a decrease from HKD 18,766,000 in the same period of 2023[13] - The group recorded other expenses and losses of HKD 4,737,000 for the six months ended June 30, 2024, compared to HKD 1,801,000 in the same period last year[49] Assets and Liabilities - Non-current assets as of June 30, 2024, totaled HKD 1,437,626,000, a decrease from HKD 1,484,646,000 as of December 31, 2023[4] - Current assets decreased to HKD 594,081,000 from HKD 693,725,000, representing a decline of approximately 14.3%[4] - Current liabilities decreased to HKD 128,048,000 from HKD 148,733,000, showing a reduction of about 13.9%[5] - The company's cash and cash equivalents decreased to HKD 100,998,000 from HKD 153,324,000, a decline of approximately 34%[4] - Trade receivables and notes receivable totaled HKD 14,098,000 as of June 30, 2024, down from HKD 16,826,000 as of December 31, 2023, indicating a decrease of approximately 16.2%[20] - Trade payables amounted to HKD 23,293,000 as of June 30, 2024, a decrease from HKD 29,050,000 as of December 31, 2023, reflecting a reduction of about 19.7%[21] - The group’s net asset value as of June 30, 2024, was approximately HKD 1,831,386,000, a decrease of about HKD 123,162,000 from HKD 1,954,548,000 as of December 31, 2023[53] - The group has no pledged assets as of June 30, 2024[58] Revenue Sources - Revenue from product sales was HKD 68,078,000, down from HKD 74,786,000, while service revenue increased to HKD 5,229,000 from HKD 3,252,000[10] - 100% of the group's revenue for the six months ended June 30, 2024, was generated from customers in mainland China[9] - The group’s cost of goods sold for the six months ended June 30, 2024, was HKD 52,313,000, down from HKD 56,725,000 in the same period of 2023[14] - The overall gross profit margin for the period was 22.3%, down from 24% in the same period last year, a decrease of 1.7% attributed to rising raw material prices due to global inflation[44] Employee and Management Compensation - Total compensation for key management personnel was HKD 2,267,000 for the six months ended June 30, 2024, compared to HKD 2,212,000 for the same period in 2023, representing an increase of approximately 2.5%[26] - The group has approximately 164 employees as of June 30, 2024, down from 170 in the same period last year, with total employee costs around HKD 19,692,000 compared to HKD 21,480,000 in the previous year[62] - Employee compensation is determined based on market levels, with additional benefits including medical insurance and mandatory contributions to social insurance[62] - The company has established discretionary performance bonus plans and stock option plans to reward employee performance[62] Business Operations and Expansion - As of June 30, 2024, the group operated six elderly care facilities with a total of 1,235 beds, achieving an average occupancy rate of over 56%[30] - Revenue from elderly care facilities reached RMB 21.64 million in the first half of 2024, a 4% increase compared to RMB 20.82 million in the same period of 2023[31] - The net profit for the elderly care business was RMB 1.12 million, a 41% decrease from RMB 1.90 million in the first half of 2023, primarily due to increased initial costs for the new Changzhou Luoxi Nursing Home project[30] - The group is actively expanding inclusive elderly care facilities, focusing on the Yangtze River Delta region and gradually extending services across China[29] - The group plans to expand its elderly care business into the Greater Bay Area and is actively seeking to increase elderly care bed resources, with a new project expected to add approximately 500 beds by October 2024[40] - The group is focusing on the "Beijing Kang Nursing" brand and aims to strengthen its core competitiveness in standardized and professional operations in the Yangtze River Delta region[39] Investments and Projects - The group is involved in six projects across Beijing, Shanghai, Dali, and Canada, covering over 400,000 square meters, with significant commercial value enhancement potential[34] - The Chaoyang Logistics Project in Beijing has a land area of 87,607 square meters and a 95% equity stake, focusing on smart warehousing and digital technology[34] - The Hemei Road Project in Shanghai has a land area of 39,448 square meters and is set to develop into a landmark rental apartment project by 2025[35] - The group is exploring suitable acquisition targets to enhance its medical and nursing product business and aims to create greater returns for shareholders[40] Financial Management and Governance - The audit committee has reviewed the interim results for the six months ending June 30, 2024, ensuring compliance with financial reporting and internal control principles[66] - The company has adopted the standard code for securities trading by directors, confirming full compliance during the reporting period[64] - The company has adhered to the corporate governance code throughout the reporting period[63] - The interim results announcement is available on the company's website and will be sent to shareholders in due course[67] Risks and Challenges - The group is exposed to foreign exchange risks due to most transactions being denominated in RMB, with potential impacts on net asset value from RMB fluctuations[61] - The group is cautious about increasing investments in health industry parks in China due to regulatory pressures and high debt levels in the real estate sector[40] - The group is actively seeking investment opportunities in the sports industry to add new growth momentum to its "big health industry" investment goals[41]

Financial Performance - Revenue for the year ended 31 December 2023 was HK$140,346,000, a decrease of 15.7% compared to HK$166,484,000 in 2022[54]. - Loss attributable to owners of the parent for 2023 was HK$61,882,000, compared to a loss of HK$97,696,000 in 2022, representing a 36.7% improvement[54]. - Total assets as of 31 December 2023 were HK$2,178,371,000, down from HK$2,415,431,000 in 2022, indicating a decrease of 9.8%[54]. - Total liabilities as of 31 December 2023 were HK$1,954,548,000, a decrease from HK$2,143,660,000 in 2022, reflecting a reduction of 8.8%[54]. - Equity attributable to owners of the parent decreased to HK$1,885,485,000 in 2023 from HK$2,037,238,000 in 2022, a decline of 7.5%[54]. - Gross profit for 2023 was HK$38,474,000, down 17.3% from HK$46,512,000 in the previous year[145]. - Loss before tax for the year was HK$68,778,000, an improvement from a loss of HK$102,696,000 in 2022[145]. - Other income and gains for 2023 were HK$36,084,000, slightly down from HK$36,864,000 in 2022[145]. - Administrative expenses decreased to HK$89,476,000 in 2023 from HK$97,402,000 in 2022, reflecting a cost control strategy[145]. - The company reported a net other comprehensive loss of HK$91,146,000 for the year, compared to HK$177,334,000 in the previous year, a 48.5% improvement[148]. - Total comprehensive loss for the year was HK$152,867,000, down from HK$276,139,000 in 2022, indicating a 44.7% reduction[150]. Cash and Investments - As of December 31, 2023, the Group's cash and cash equivalents were approximately HK$153,324,000, a decrease of about HK$40,402,000 from HK$193,726,000 in 2022[13]. - The balance of wealth management products from banks was approximately HK$160,047,000, down from HK$220,172,000 in the previous year, indicating a decrease of approximately 27.3%[13]. - The fair value of unlisted investments was approximately HK$295 million as of December 31, 2023, categorized as Level 2 or Level 3 in the fair value valuation hierarchy[71]. - The carrying amount of other receivables was approximately HK$263 million as of December 31, 2023, which was significant for the consolidated financial statements[74]. - The net carrying amount of goodwill was approximately HK$80 million as of December 31, 2023, requiring annual impairment testing[78]. Geriatric Care Business - The geriatric care business generated revenue of approximately HK$11,726,000 in 2023, an increase of 35.9% year-on-year[62]. - Average occupancy rate of the group's geriatric care facilities improved to 79% in 2023, with all facilities achieving break-even and providing positive cash flow[62]. - The group operates 5 geriatric care facilities with a total of 1,075 beds, including 749 medical beds[62]. - The group plans to accelerate the development of its geriatric care business, aiming to add 1,000 new beds in the coming year[62]. - The Group's geriatric care institutions maintained a full occupancy rate throughout the year, reflecting strong recognition from customers and government[107][110]. - The Group's strategy focuses on integrating medical and geriatric care, aiming to become a benchmark enterprise in the geriatric care industry in China[99][106]. - The Group successfully acquired two new geriatric care projects, adding 550 beds, and plans to increase the number of beds by 1,000 in the coming year[93]. Regulatory Compliance and Governance - The Group's related party transactions during the year have been disclosed in accordance with the Listing Rules, ensuring transparency[23]. - The Company has maintained a sufficient public float throughout the year, ensuring compliance with regulatory requirements[21]. - The Group is not aware of any material breaches of applicable laws and regulations during the year ended 31 December 2023[35]. Employee Development - The group provided a total of 232 training sessions for employees, including nursing and safety training[115]. - The group emphasizes employee personal growth and has built a strong learning platform for continuous improvement[115]. Market Opportunities - The aging population in China is projected to exceed 300 million by 2025 and 420 million by 2035, creating significant market opportunities for the Group's business development[106][110]. Project Developments - The Group signed a cooperative agreement for the investment and operation of Changzhou Luoxi Geriatric Care Center, covering a total area of 15,000 sq.m. with 152 integrated medical and geriatric care beds[176]. - The Ancient Canal Cultural and Creative Building Health Care Project plans to set up about 400 integrated medical and geriatric care beds, with an expected average monthly income per bed of RMB7,000[178]. - As of December 31, 2023, the Group participated in six projects across Beijing, Shanghai, Dali, and Canada, with a total site area of over 400,000 sq.m.[180]. - The Inland Port Project in Beijing covers 87,607 sq.m. and is intended to be transformed into a new industrial park focusing on smart warehousing and digital technology[187]. - The Hongmei Road Project in Shanghai is strategically located and aims to develop landmark rental apartments, with plans to complete land conversion in 2024[187].

Financial Performance - Total revenue for the year ended December 31, 2023, was HKD 4,140,346 thousand, a significant increase from HKD 166,484 thousand in 2022, representing a growth of approximately 2,388%[2] - Gross profit for the same period was HKD 38,474 thousand, down from HKD 46,512 thousand in 2022, indicating a decrease of about 17%[2] - The net loss for the year was HKD 61,721 thousand, an improvement compared to a net loss of HKD 98,805 thousand in 2022, reflecting a reduction of approximately 37.5%[3] - The company reported a pre-tax loss of HKD 68,778 thousand, which is a decrease from HKD 102,696 thousand in the previous year, showing an improvement of about 33%[2] - Other comprehensive loss for the year was HKD 91,146 thousand, compared to HKD 177,334 thousand in 2022, indicating a reduction of approximately 48%[4] - The company incurred financial asset impairment losses of HKD 15,163 thousand, which increased from HKD 10,109 thousand in 2022, representing a rise of about 50%[2] - The company’s share of losses from joint ventures was HKD 5,728 thousand, down from HKD 18,828 thousand in 2022, reflecting a decrease of approximately 69%[2] - The basic and diluted loss per share for the year was HKD 1.01, an improvement from HKD 1.61 in 2022[4] - The company reported a significant foreign exchange loss of HKD 21,057 thousand, compared to HKD 141,525 thousand in the previous year, indicating a decrease of about 85%[3] - The total comprehensive loss for the year amounted to HKD 152,867 thousand, down from HKD 276,139 thousand in 2022, reflecting a reduction of approximately 44.5%[4] Assets and Liabilities - Non-current assets decreased from HKD 1,775,609 thousand in 2022 to HKD 1,484,646 thousand in 2023, a decline of approximately 16.4%[6] - Current assets increased from HKD 639,822 thousand in 2022 to HKD 693,725 thousand in 2023, an increase of about 8.4%[6] - Total liabilities decreased from HKD 271,771 thousand in 2022 to HKD 223,823 thousand in 2023, a reduction of approximately 17.6%[8] - Net asset value decreased from HKD 2,143,660 thousand in 2022 to HKD 1,954,548 thousand in 2023, a decline of about 8.8%[8] - Cash and cash equivalents decreased from HKD 193,726 thousand in 2022 to HKD 153,324 thousand in 2023, a decrease of approximately 20.9%[6] - Trade payables increased from HKD 21,745 thousand in 2022 to HKD 29,050 thousand in 2023, an increase of about 33.5%[8] - Other payables and accrued expenses decreased from HKD 129,043 thousand in 2022 to HKD 116,017 thousand in 2023, a reduction of approximately 10.1%[8] - The company reported a total equity of HKD 1,954,548 thousand in 2023, down from HKD 2,143,660 thousand in 2022, reflecting a decrease of about 8.8%[8] - The company’s investment properties decreased from HKD 150,720 thousand in 2022 to HKD 136,716 thousand in 2023, a decline of approximately 9.3%[6] - The company’s goodwill remained unchanged at HKD 79,979 thousand for both 2022 and 2023[6] Revenue Breakdown - Total revenue for the year was approximately HKD 17,431,000, a decrease from HKD 37,197,000 in the previous year, representing a decline of 53%[16] - Revenue from customer contracts for the year was HKD 140,346,000, down from HKD 166,484,000 in the previous year, indicating a decrease of 16%[19] - Revenue from sales of goods was HKD 128,620,000, a decrease from HKD 157,854,000 in the previous year, representing a decline of 18%[19] - Revenue from services provided increased to HKD 11,726,000 from HKD 8,630,000, marking a growth of 36%[19] - The group recognized contract liabilities related to sales of goods amounting to HKD 41,676,000, an increase from HKD 36,325,000 in the previous year, reflecting a growth of 9%[21] - Expected revenue to be recognized within one year from remaining performance obligations is HKD 155,165,000, down from HKD 164,696,000 in the previous year, a decrease of 6%[23] Elderly Care Services - The elderly population in China is projected to exceed 300 million by 2025 and reach 420 million by 2035, driving demand for elderly care services[42] - The government plans to increase the number of elderly care beds from 7.5 million currently to 9 million by 2025 and 15 million by 2035[42] - The group operates 5 elderly care institutions with a total of 1,075 beds, achieving an average occupancy rate of over 75%[44] - In 2023, the group's elderly care business generated revenue of RMB 41.81 million, a year-on-year increase of 9.71% from RMB 38.11 million in 2022[44] - The newly opened Changzhou Xuejia Caring Nursing Home has an occupancy rate exceeding 70% and has achieved positive cash flow[46] - The Wuxi Guangyi Elderly Care Center achieved revenue of RMB 20.81 million in 2023, a 7.49% increase from RMB 19.36 million in 2022, with an occupancy rate of 83%[50] - The Wuxi Wuhe Elderly Care Center reported revenue of RMB 5.93 million, a decrease of 8.91% from RMB 6.51 million in 2022, with an occupancy rate of 75%[51] - Xuejia Love Nursing Center achieved revenue of RMB 9.64 million, a year-on-year increase of 22.96%, with an occupancy rate of 75%[54] - Huifeng Nursing Center reported revenue of RMB 1.22 million, a year-on-year increase of 19.61%, with an occupancy rate of 70%[55] - Wuhu Jintaiyang Nursing Center generated revenue of RMB 4.21 million, a year-on-year increase of 24.56%, with a full occupancy rate of 100%[56] Future Plans and Developments - The group is expanding its elderly care facilities in economically strong regions, particularly in the Yangtze River Delta area, to meet growing market demand[43] - The company signed an investment and operation cooperation agreement for Changzhou Luoxi Nursing Center, which covers a total area of 15,000 square meters and has 152 combined medical and nursing beds planned[58] - The company secured operational rights for the Guhunhe Cultural Creative Building Nursing Project, which plans to have approximately 400 combined medical and nursing beds, with an expected average monthly income of RMB 7,000 per bed[59] - As of December 31, 2023, the company is involved in six projects across Beijing, Shanghai, Dali, and Canada, covering over 400,000 square meters[62] - The company plans to upgrade the Luguang project in Beijing, which covers 87,607 square meters, with a shareholding ratio of 82.24%[63] - The Haidong New District project in Dali, covering 275,181 square meters, is currently on hold due to a suspension of approvals by the Yunnan provincial government[65] - The company is preparing for land development procedures for the Urban Health Apartment project in Canada, which covers 10,588 square meters and has a shareholding ratio of 47.47%[65] - The Ovation project in Canada has sold approximately 80% of its available area and is expected to be delivered to buyers in early 2024[65] Operational Efficiency - The group provided a total of 232 training sessions for employees in 2023, focusing on nursing and safety training[46] - The group aims to increase its elderly care bed capacity by 500 to 1,000 beds next year, following the signing of two new projects that secured 552 new beds[70] - The group plans to explore suitable acquisition targets to enhance its business and create greater shareholder value[73] - The group will not increase investments in health industry parks in China due to regulatory pressures and will seek suitable partners for timely project sales[72] - The group is focused on expanding its overseas business, particularly in Canada, with the Ovation project expected to be completed in 2023 and units delivered in early 2024[72] Corporate Governance and Shareholder Relations - The board of directors does not recommend the payment of a final dividend for the year ending December 31, 2023, believing it is necessary to balance shareholder returns with future growth investments[108] - The audit committee has reviewed the group's full-year performance for the year ending December 31, 2023[110] - The external auditor, Ernst & Young, has confirmed that the financial figures in the preliminary announcement are consistent with the draft consolidated financial statements for the year[111] - The annual report for the year ending December 31, 2023, will be sent to shareholders and published on the Hong Kong Stock Exchange and the company's website at an appropriate time[112] - The board expresses sincere gratitude to shareholders, customers, suppliers, and employees for their continued support[113] - Forward-looking statements in the announcement are based on current beliefs, assumptions, and expectations, which may differ significantly due to risks and uncertainties[115]

Financial Performance - Revenue for the six months ended June 30, 2023, was HK$78,038,000, a decrease of 15% compared to HK$91,807,000 in the same period of 2022[6]. - Gross profit for the period was HK$18,724,000, down 26% from HK$25,254,000 in 2022[6]. - Loss before tax was HK$19,500,000, improved from a loss of HK$35,673,000 in the prior year[6]. - Loss for the period was HK$18,032,000, a reduction of 48% compared to HK$34,387,000 in 2022[7]. - Total comprehensive loss for the period was HK$62,151,000, down from HK$127,904,000 in the same period last year[8]. - Basic and diluted loss per share attributable to ordinary equity holders was HK(0.26) cents, compared to HK(0.54) cents in 2022[8]. - Other income and gains, net, amounted to HK$21,352,000, slightly decreasing from HK$22,851,000 in the previous year[6]. - Administrative expenses decreased to HK$41,603,000 from HK$55,951,000, reflecting a 26% reduction[6]. - Finance costs were reduced to HK$263,000 from HK$602,000, indicating a 56% decrease[6]. - The company reported a net other comprehensive loss of HK$44,119,000 for the period, compared to HK$93,517,000 in 2022[7]. Assets and Liabilities - Total non-current assets decreased from HK$1,775,609,000 as of December 31, 2022, to HK$1,543,146,000 as of June 30, 2023, representing a decline of approximately 13.1%[10]. - Current assets increased from HK$639,822,000 as of December 31, 2022, to HK$760,584,000 as of June 30, 2023, reflecting an increase of about 18.8%[10]. - Net current assets improved significantly from HK$457,481,000 as of December 31, 2022, to HK$622,212,000 as of June 30, 2023, marking an increase of approximately 36%[10]. - Total current liabilities decreased from HK$182,341,000 as of December 31, 2022, to HK$138,372,000 as of June 30, 2023, a reduction of about 24.1%[10]. - Net assets decreased from HK$2,143,660,000 as of December 31, 2022, to HK$2,080,592,000 as of June 30, 2023, indicating a decline of approximately 2.9%[11]. - Total equity attributable to the owners of the parent decreased from HK$2,037,238,000 as of December 31, 2022, to HK$1,980,304,000 as of June 30, 2023, a decrease of about 2.8%[11]. - Cash and cash equivalents decreased from HK$193,726,000 as of December 31, 2022, to HK$140,075,000 as of June 30, 2023, representing a decline of approximately 27.7%[10]. - Trade and bills receivables increased from HK$18,655,000 as of December 31, 2022, to HK$26,934,000 as of June 30, 2023, an increase of about 44.4%[10]. - Inventories decreased from HK$45,363,000 as of December 31, 2022, to HK$27,733,000 as of June 30, 2023, reflecting a decline of approximately 38.9%[10]. Comprehensive Loss and Reserves - The company reported a loss for the period of HK$16,014,000, contributing to a total comprehensive loss of HK$62,151,000 for the first half of 2023[13]. - The fair value reserve for financial assets at fair value through other comprehensive income decreased by HK$42,414,000 during the period[13]. - The accumulated losses increased to HK$973,341,000 as of June 30, 2023, compared to HK$941,363,000 at the beginning of the year[13]. - The statutory reserve remained stable at HK$1,773,257,000, with no changes reported during the period[13]. - The share premium account was reported at HK$1,211,754,000, unchanged from the beginning of the year[13]. - The company declared a dividend of HK$917,000 to a non-controlling shareholder during the period[13]. - The exchange differences on translation of foreign operations resulted in a loss of HK$41,566,000 for the period[13]. - The company’s total comprehensive income for the period included a gain of HK$1,594,000 from changes in fair value of designated equity investments[13]. Revenue Breakdown - For the six months ended June 30, 2023, the Group's total revenue from contracts with customers was approximately HK$78,038,000, a decrease of 15% compared to HK$91,807,000 for the same period in 2022[45]. - Revenue from sales of goods was HK$74,786,000, down from HK$88,126,000 in the previous year, reflecting a decline of approximately 15%[45]. - Revenue from rendering of services was HK$3,252,000, compared to HK$3,681,000 in the prior year, indicating a decrease of about 12%[45]. - 100% of the Group's revenue was generated from customers in Mainland China during the reporting period[40]. Geriatric Care Business - The Group's geriatric care business is expanding, with the aging population in China expected to exceed 300 million by 2025 and 420 million by 2035[137]. - The demand for elderly beds in China is projected to increase from 7.5 million currently to 9 million by 2025 and 15 million by 2035[137]. - The Group operates a number of self-operated nursing institutions, maintaining a full occupancy rate for geriatric care beds throughout the year[138]. - The Group has established the "Beikang Medical and Geriatric Care" brand, focusing on integrated medical and geriatric care services[138]. - The average occupancy rate across all institutions improved significantly post-pandemic, indicating a recovery in demand for geriatric care services[142]. Investment and Development Projects - The Group signed a cooperative agreement for the investment and operation of Changzhou Luoxi Geriatric Care Center, covering a total area of 15,000 sq.m. with 152 beds[165]. - The Group plans to renovate the Luoxi Geriatric Care Center to create a smart and garden-like nursing home, enhancing geriatric and medical services[166]. - As of June 30, 2023, the Group participated in six projects in Beijing, Shanghai, Dali, and Canada, with a total site area of over 400,000 sq.m.[172]. - The Group's projects are positioned in line with market demand, expected to have considerable potential for appreciation in commercial value[173]. Market Conditions and Future Outlook - Market demand and competitive pressures have increased following the full release of the pandemic in China in 2023[180]. - The Group's order backlog has decreased due to the semi-closure in China during the second half of 2022, impacting revenue carry-forward[197]. - The Group's strategy includes reinforcing its market presence in the geriatric care industry, leveraging strong consumer demand in economically robust regions[190].

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