Financial Performance - Total revenue for the year ended December 31, 2023, was HKD 1,311,246,000, a significant increase from HKD 150,286,000 in 2022[4] - Gross profit for the same period was HKD 24,367,000, compared to HKD 27,893,000 in the previous year, indicating a decrease[4] - The net loss attributable to the owners of the company for 2023 was HKD 24,256,000, an improvement from a loss of HKD 31,913,000 in 2022[4] - The company reported a comprehensive income of HKD 1,044,000 for 2023, recovering from a comprehensive loss of HKD 40,785,000 in 2022[5] - Other income increased to HKD 13,267,000 in 2023 from HKD 12,857,000 in 2022, showing a slight growth[4] - The company incurred administrative expenses of HKD 27,912,000 in 2023, down from HKD 31,386,000 in 2022, reflecting cost control efforts[4] - The company reported a significant foreign exchange loss of HKD 6,568,000 in 2023, compared to a loss of HKD 47,001,000 in 2022, indicating improved currency management[5] - The total comprehensive loss for the year was HKD 5,159,000, a reduction from HKD 87,779,000 in the previous year, suggesting a positive trend[5] - The company’s financial income for 2023 was HKD 1,494,000, slightly up from HKD 1,386,000 in 2022[4] Assets and Liabilities - Total assets decreased from HKD 520,663,000 in 2022 to HKD 304,734,000 in 2023, representing a decline of approximately 41.4%[7] - Current assets increased significantly from HKD 225,230,000 in 2022 to HKD 301,835,000 in 2023, an increase of about 34%[7] - Total liabilities decreased from HKD 419,397,000 in 2022 to HKD 218,940,000 in 2023, a reduction of approximately 47.8%[8] - The company's equity attributable to owners decreased from HKD 101,266,000 in 2022 to HKD 85,794,000 in 2023, a decline of about 15.3%[8] - Cash and cash equivalents decreased from HKD 49,238,000 in 2022 to HKD 25,230,000 in 2023, a decline of about 48.8%[7] - The company’s total liabilities to total assets ratio improved from 80.5% in 2022 to 71.9% in 2023[8] - The company’s non-controlling interests increased from a negative HKD 12,760,000 in 2022 to HKD 1,039,000 in 2023, indicating a recovery[7] - The company’s current liabilities decreased from HKD 418,873,000 in 2022 to HKD 81,725,000 in 2023, a significant reduction of about 80.5%[8] Revenue Segmentation - For the fiscal year 2023, the group reported revenue from customer contracts amounting to HKD 1,311,246,000, a significant increase from HKD 150,286,000 in 2022[37] - The group’s operating segments include Energy Business, Digital Trading Industry, and Drilling Services, with total segment profit of HKD 14,945,000[41] - The group’s revenue from Energy Trading Products was HKD 1,291,246,000, while revenue from Digital Trading Operations was HKD 20,000,000[37] - Revenue from the energy trading business was approximately HKD 1.29 billion during the reporting period, compared to HKD 120 million in 2022[72] - Revenue from the energy digital trading industrial park was approximately HKD 20 million, down from HKD 33.34 million in 2022[75] Operational Efficiency - The group’s operating profit before tax was HKD 2,273,000, indicating operational efficiency despite financial challenges[41] - The operational expenses for 2023 were reported at HKD 14,964 million, a decrease from HKD 29,330 million in 2022, indicating improved cost management[43] - Operating costs decreased to approximately HKD 341.8 million, a reduction of about 14.98% compared to HKD 402 million in 2022[86] Corporate Governance - The company maintains high standards of corporate governance and has established self-regulatory practices to protect shareholder interests[112] - The company has fully complied with the corporate governance code during the reporting period[113] - The company has adopted a standard code for securities trading by directors, ensuring compliance with regulations[115] Future Outlook - The company plans to focus on market expansion and new product development to drive future growth[2] - The company aims to enhance its digital energy services and expand its trading industrial park operations in the upcoming fiscal year[43] - The company plans to continue exploring new energy-related products and services to enhance competitiveness and profitability, while closely monitoring global oil price fluctuations[80] Shareholder Information - The company does not recommend any dividend payment for the year ending December 31, 2023, consistent with the previous year[52] - The basic loss per share was approximately HKD (0.54) for 2023, compared to HKD (0.72) in 2022, indicating an improvement in performance[53] - The total loss attributable to shareholders was HKD 24,256,000 in 2023, down from HKD 31,913,000 in 2022, reflecting a reduction in losses[53] Audit and Compliance - The audit committee reviewed the accounting principles and practices adopted by the group for the year ended December 31, 2023[124] - The annual results announcement will be published on the Hong Kong Stock Exchange and the company's website, with the annual report to be sent to shareholders in due course[126]

Financial Performance - The company's revenue for the six months ended June 30, 2023, was approximately HKD 13.96 million, a significant decrease of about 87.43% compared to HKD 111.05 million in the same period of 2022[4] - Gross profit for the same period was approximately HKD 12.50 million, down 55.92% or HKD 15.86 million from HKD 28.36 million in the prior year[4] - Revenue from the energy trading business was zero during this period, compared to approximately HKD 78.93 million in the same period of 2022[6] - The energy digital trading industrial park generated revenue of approximately HKD 13.96 million, down from HKD 32.12 million in the prior year[9] - The group's revenue significantly decreased to approximately HKD 13.96 million (mid-2022: HKD 111.05 million), a decline of about 87.43% due to the suspension of its energy trading business and a decrease in revenue from the energy digital trading industrial park[18] - The group recorded a net loss attributable to shareholders of approximately HKD 42.52 million (mid-2022: net profit of approximately HKD 14.08 million), primarily due to a loss from the sale of a non-wholly owned subsidiary and a decrease in revenue from the energy digital trading industrial park[19] - Basic loss per share was approximately HKD 0.95 (2022: basic earnings per share of HKD 0.32), a decrease of about 396.88%[23] - The company reported a net loss of HKD 13,257,000 for the six months ended June 30, 2023, compared to a profit of HKD 24,857,000 in 2022[70] - The company incurred a net loss of HKD 13,257,000 for the six months ended June 30, 2023, compared to a profit of HKD 24,857,000 in the same period of 2022[108] Operational Developments - The company has successfully introduced at least 724 enterprises into the energy digital trading industrial park, with plans to operate 30 digital industrial parks and attract over 2,000 enterprises[15] - The company plans to explore new investment opportunities in oil exploration and development, aiming to collaborate with large state-owned enterprises to develop high-value oil fields[16] - The company intends to resume its energy trading business once global oil prices stabilize[14] - The company will continue to identify and assess various business development opportunities to enhance its competitive advantage and expand revenue sources[16] - The company plans to continue expanding its operations in China, focusing on energy trading and digital trade[81] Financial Position - As of June 30, 2023, the group's cash and cash equivalents were approximately HKD 264.17 million (December 31, 2022: HKD 49.24 million), indicating improved liquidity[24] - The current ratio improved to approximately 2.80 as of June 30, 2023, compared to 0.54 on December 31, 2022, reflecting better short-term financial health[24] - The group's capital debt ratio increased to approximately 243% as of June 30, 2023 (December 31, 2022: 163%), indicating a higher level of debt relative to equity[26] - Total assets decreased to HKD 335,763,000 as of June 30, 2023, from HKD 520,663,000 at the end of 2022[73] - The company’s total equity decreased to HKD 85,150,000 as of June 30, 2023, from HKD 101,266,000 at the end of 2022[73] - Total liabilities decreased to HKD 60,738,000 as of June 30, 2023, from HKD 92,899,000 at the end of 2022, indicating a reduction of 34.6%[107] Cost Management - Operating costs for the period were approximately HKD 16.72 million (mid-2022: HKD 19.34 million), a reduction of about 13.55% mainly due to the sale of a subsidiary[20] - Financing costs increased to approximately HKD 7.99 million, up about 75.22% from approximately HKD 4.56 million in the same period last year, primarily due to accrued interest on convertible bonds[21] - Employee costs (excluding directors' remuneration) for the period were approximately HKD 6.22 million, down from approximately HKD 6.74 million in the mid-2022 period[36] Shareholder Information - The board did not recommend the payment of an interim dividend for the six months ended June 30, 2023, compared to no dividend in 2022[45] - As of June 30, 2023, director Yuan Hongbing held 13,796,000 shares, representing approximately 0.31% of the issued shares[52] - Qilu International Funds SPC holds 2,649,059,881 shares, representing 59.46% of the total issued shares as of June 30, 2023[55] - Win Win International Strategic Investment Funds SPC owns 1,821,053,112 shares, accounting for 40.88% of the total issued shares[55] - The company’s major shareholders include Hong Kong Dehe Investment Limited and Super Wise International Investment Limited, holding 16.67% and 7.98% of shares respectively[56] Corporate Governance - The group has complied with the Corporate Governance Code, with a noted absence of a non-executive director at a special general meeting due to other commitments[47] - The audit committee reviewed the unaudited condensed consolidated financial statements for the six months ended June 30, 2023[49] Risk Management - The company anticipates facing challenges in the second half of 2023 due to rising risks of global economic stagflation and ongoing geopolitical tensions[13] - The company has not reported any significant changes in its risk management policies since the end of the last fiscal year[92] - The company maintains that it has sufficient resources to meet its obligations over the next year[94] Share Options and Convertible Notes - The company issued a third supplemental agreement for convertible bonds, extending the maturity date to July 17, 2025, and revising the interest rate to 8.00% per annum[34] - The total number of share options granted, exercised, forfeited, and lapsed during the period is detailed in the report, with no options exercised during the first half of 2023[63] - The company has not recognized any share-based payments for the six months ended June 30, 2023, compared to none for the same period in 2022[132] - The convertible loan notes had an outstanding balance of HKD 126,118,000 as of June 30, 2023, consisting of principal amount of HKD 110,953,000 and accrued interest of HKD 13,666,000[144] Subsequent Events - There were no significant subsequent events requiring disclosure from June 30, 2023, to the report date[41] - The company has no other plans for significant investments, acquisitions, or capital assets as of the report date[44]

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之任何損失 承擔任何責任。 JINTAI ENERGY HOLDINGS LIMITED 金 泰 能 源 控 股 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：2728） 截 至2023年6月30日 止6個 月 之 中 期 業 績 公 告 金泰能源控股有限公司（「本公司」）董事（「董事」）會（「董事會」）公佈本公司 及 其 附 屬 公 司（統 稱 為「本 集 團」）截 至2023年6月30日 止6個 月 之 未 經 審 核 簡明綜合業績，連同2022年度同期之比較數字。 ...

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之內容概不負 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 或任何部份內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 JINTAI ENERGY HOLDINGS LIMITED 金 泰 能 源 控 股 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：2728） 有關2022年年報 之補充公告 茲提述金泰能源控股有限公司（「本公司」）截至2022年12月31日止年度之年報 （「2022年年報」）。除另有指明者外，本公告所用詞彙與2022年年報所界定者具有 相同涵義。 於2022年年報第120頁綜合財務報表附註20（於一間聯營公司之權益）中，本集團 於雲頂（新疆）油氣開發有限公司（「雲頂新疆」或「中國公司」）持有權益之賬面值為 合共128,866,000港元。 本公告旨在提供有關中國公司於2022年中成立的背景以及本公司審核委員會（「審 核委員會」）於本公司截至2022年12月31日止年度的年度業績及誠如2022年年報所 披露對中國公司的會計處理意見的資料。本集團於2023年6月15日出售中國公 司。 ...

Financial Performance - The company's revenue for the year ended December 31, 2022, was approximately HKD 150.29 million, a significant decrease of about 98.64% compared to HKD 110.1 billion in the same period of 2021[5]. - Gross profit for the reporting period was approximately HKD 27.89 million, down about 93.50% from HKD 428.83 million in 2021[5]. - Revenue from the energy trading business was approximately HKD 116.95 million, compared to HKD 107.0 billion in 2021[7]. - The drilling services segment did not generate any revenue during the reporting period, down from HKD 259.94 million in 2021[11]. - The customs declaration services segment also did not generate any revenue due to significant logistics restrictions caused by the COVID-19 pandemic, compared to HKD 3.98 million in 2021[15]. - The net loss attributable to the company's owners was approximately HKD 31.91 million, compared to a net profit of HKD 94.30 million in 2021, mainly due to the same suspension of energy trading operations[24]. - Operating costs were approximately HKD 40.20 million, a decrease of about 85.0% from HKD 267.97 million in 2021, consistent with the revenue decline[25]. - The group reported no final dividend for the year ended December 31, 2022, consistent with 2021[122]. - As of December 31, 2022, the company had a share premium of HKD 321,958,000 and accumulated losses of HKD 542,392,000[134]. Business Strategy and Future Outlook - The company plans to explore new energy-related products and services to enhance its energy trading business and improve competitiveness[18]. - The company anticipates facing challenges in 2023 due to rising risks of global economic stagflation and ongoing geopolitical tensions affecting oil prices[16]. - The company aims to resume its energy trading business once global oil prices stabilize[18]. - The group plans to operate 30 digital industry parks and attract over 1,000 enterprises, having already signed cooperation agreements with multiple companies across 13 cities and regions[19]. - The group has entered into a memorandum of understanding for a potential acquisition of a company engaged in oil exploration and development, with an estimated acquisition cost of RMB 85 million[36]. - The group has agreed to invest approximately RMB 2.43 million (about HKD 2.84 million) in initial costs for the exploration of oil sands in Xinjiang, China[20]. Corporate Governance - The company maintains a commitment to high levels of corporate governance to enhance shareholder value and ensure ethical business practices[52]. - The company has adopted a code of business conduct to ensure adherence to principles and values among management and employees[53]. - The board consists of a balanced composition of executive and non-executive directors, ensuring a mix of industry knowledge and professional expertise[56]. - The company has established committees such as the audit committee, remuneration committee, and nomination committee to assist the board in fulfilling its responsibilities[57]. - The independent non-executive directors have confirmed their independence in accordance with the Listing Rules[59]. - The company has adopted a board diversity policy, aiming to appoint at least one female board member by the end of 2024[71]. - The company has engaged an independent professional consulting firm to audit the effectiveness and adequacy of its risk management and internal control systems during the reporting period[89]. - The board believes that the risk management and internal control systems are sufficient and effective, ensuring the safeguarding of shareholder investments and company assets[89]. Shareholder Engagement and Communication - The company has established a shareholder communication policy to ensure timely and equal access to information for shareholders and potential investors[98]. - The company has been actively engaging with shareholders through its annual general meetings, providing a platform for constructive communication[99]. - The company’s website serves as a key resource for shareholders to access the latest financial information and business developments[98]. - The board of directors has undergone a review of the communication policy and deemed it effective[100]. Employee and Talent Management - The group employed approximately 159 staff as of December 31, 2022, down from 171 in 2021, with employee costs around HKD 15.81 million compared to HKD 49.86 million in 2021[33]. - The company emphasizes talent retention by providing attractive compensation packages, although compensation is not solely linked to profitability[81]. - All directors are encouraged to participate in continuous professional development to enhance their knowledge and skills[70]. Financial Management and Risks - The company reported significant uncertainty regarding its ability to continue as a going concern, necessitating adjustments to asset valuations and liabilities[191]. - The company has implemented multiple measures to improve liquidity and financial conditions, aiming to address delays in repayments to financial institutions[192]. - The company issued convertible bonds with a principal amount of HKD 110,952,907, with a revised conversion price of HKD 0.134 per share[193]. - The interest rate on the convertible bonds was modified to an annual rate of 8.00%, with the maturity date extended to July 17, 2025[196]. - The auditor's opinion did not contain any modifications regarding the company's ability to continue as a going concern[192]. Environmental and Social Responsibility - The company is committed to minimizing its environmental impact during operations and aims to become an environmentally friendly enterprise[125]. - The company made charitable donations of approximately HKD 92,000 during the reporting period, compared to none in 2021[137]. Related Party Transactions - Major related party transactions include a drilling service contract worth RMB 748,171,700 for 63 oil wells, with a significant interest held by the company's chairman[185]. - Sales to the top five customers accounted for approximately 80% of the company's total sales for the year, with the largest customer representing about 56%[188]. - Purchases from the top five suppliers constituted around 97% of the total procurement for the year, with the largest supplier accounting for about 67%[188].

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份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。 JINTAI ENERGY HOLDINGS LIMITED 金 泰 能 源 控 股 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：2728） 截 至2022年12月31日 止 年 度 之 全 年 業 績 金泰能源控股有限公司（「本公司」）董事（「董事」）會（「董事會」）公佈本公司 及其附屬公司（「本集團」）截至2022年12月31日止年度（「報告期間」）之經審 核綜合業績。 ...

Stock Option Plan - The new stock option plan allows for a total of 806,700,000 shares to be issued, representing approximately 18.11% of the company's issued share capital as of December 31, 2021[8]. - The new stock option plan was approved on September 16, 2019, and will expire on September 15, 2029[4]. - The maximum number of stock options that can be granted under the new plan is capped at 10% of the issued shares, subject to shareholder approval[6]. - A total of 125,000,000 stock options were granted at an exercise price of HKD 0.15 on May 20, 2021, to five employees[7]. - The exercise price for stock options must not be lower than the highest of the closing price on the grant date or the average closing price over the five trading days preceding the grant date[7]. - The company aims to incentivize qualified participants who contribute to the success of its business through the new stock option plan[4]. - The stock options granted to four employees of a non-wholly owned subsidiary are contingent upon achieving performance targets[12]. - The estimated fair value of stock options granted on May 20, 2021, amounted to approximately HKD 16,012,000[14]. Stock Option Activity - As of December 31, 2021, no stock options were exercised, cancelled, or expired during the reporting period[13]. - The total number of stock options exercised within the reporting period was zero, indicating no dilution of shares[13]. - The company emphasizes that the stock options are designed to create value without impacting operational costs[12]. Corporate Governance - The board of directors includes three executive directors and three independent non-executive directors[16]. - The announcement date is November 10, 2022[16]. Supplementary Information - The supplementary information does not affect other data presented in the 2021 annual report[16].

Revenue and Profitability - The company's revenue for the six months ended June 30, 2022, was approximately HKD 111.05 million, a significant decrease of about 98.82% compared to HKD 9,384.67 million in the same period of 2021[9]. - Gross profit for the same period was approximately HKD 28.36 million, down approximately 91.06% or HKD 288.98 million from HKD 317.34 million in the prior year[9]. - Revenue from energy trading business was HKD 78.93 million, a drastic decline from HKD 9,078.62 million in the previous year[10]. - The drilling services segment reported zero revenue, down from HKD 258.79 million in the prior year due to delays and uncertainties caused by COVID-19[15]. - Customs services also generated no revenue during the period, compared to HKD 3.04 million in the same period of 2021, due to significant logistics challenges from the ongoing pandemic[16]. - The net profit attributable to the company's owners was approximately HKD 14.08 million, down approximately 87.40% from HKD 112.94 million in the prior year[29]. - The net profit for the period was HKD 24,857 thousand, down from HKD 123,043 thousand in the previous year, reflecting a decline of approximately 80.8%[95]. - The operating profit for the six months ended June 30, 2022, was HKD 28,003,000, compared to HKD 152,601,000 for the same period in 2021, indicating a decrease of about 81.7%[170]. - The energy business reported a loss of HKD 1,539,000 for the six months ended June 30, 2022, compared to a profit of HKD 56,789,000 in the same period of 2021[164]. - The company reported a total comprehensive income of HKD 58,557 thousand for the period, compared to HKD 130,690 thousand in the previous year, marking a decrease of approximately 55.2%[95]. Operational Changes and Future Plans - The company plans to explore new energy-related products and services to enhance its energy trading business and improve competitiveness and profitability[21]. - The company has suspended most of its energy trading operations and will consider resuming them once global oil prices stabilize[10]. - The group plans to establish 30 digital industry parks and attract over 1,000 enterprises to join, having already introduced at least 236 enterprises[22]. - The company aims to enhance its competitiveness and profitability through new investments in oil exploration and development[23]. - The company entered into a drilling service contract for a total price of RMB 748,171,700 to provide drilling services for 63 oil wells in the Huian Oilfield, China[44]. - The company is in the process of acquiring a company in Inner Mongolia for RMB 85,000,000, which holds oil shale exploration and extraction rights over an area of 50.3 square kilometers[46]. Financial Position and Ratios - The group's current ratio improved to approximately 1.43 as of June 30, 2022, compared to 1.23 at the end of 2021[33]. - The capital debt ratio decreased to approximately 174% as of June 30, 2022, down from 221% at the end of 2021[35]. - As of June 30, 2022, total liabilities amounted to HKD 592,263,000, a decrease from HKD 866,623,000 as of December 31, 2021, representing a reduction of approximately 31.6%[101]. - The company's cash and cash equivalents increased to HKD 613,516 thousand from HKD 55,681 thousand, indicating a substantial improvement in liquidity[98]. - The company's borrowings were reported at HKD 301,020,000 as of June 30, 2022, slightly down from HKD 307,079,000 at the end of 2021, indicating a decrease of about 2.5%[101]. - The total assets as of June 30, 2022, amounted to HKD 807,449,000, down from HKD 1,028,982,000 as of December 31, 2021, reflecting a reduction of approximately 21.5%[170]. Shareholder Information - As of June 30, 2022, Lin Caihuo holds 928,284,839 shares, representing approximately 20.84% of the issued shares[67]. - Qilu International Funds SPC owns 2,649,059,881 shares, accounting for 59.46% of the issued shares[72]. - Win Win International Strategic Investment Funds SPC holds 1,821,053,112 shares, which is 40.88% of the issued shares[72]. - As of June 30, 2022, Niu Guangchang has a controlled interest in 742,503,480 shares, representing 16.67% of the issued shares[76]. - The new share option plan adopted on September 16, 2019, allows for the issuance of up to 856,700,000 shares, approximately 19.23% of the company's issued share capital[81]. Compliance and Governance - The company has appointed a new executive director and chairman, effective March 11, 2022, following the resignation of the previous chairman[86]. - The company continues to focus on maintaining compliance with the Hong Kong Stock Exchange regulations regarding public shareholding[87]. - The company maintained its public float as required by the listing rules as of June 30, 2022[87]. Cash Flow and Expenditures - The net cash flow from operating activities for the six months ended June 30, 2022, was HKD 536,970,000, a significant improvement compared to a cash outflow of HKD 57,477,000 in the same period of 2021[113]. - The cash flow used in financing activities for the six months ended June 30, 2022, was HKD 16,411,000, compared to HKD 8,420,000 in the same period of 2021, reflecting an increase in cash outflow[117]. - The company incurred capital expenditures of HKD 1,465 thousand during the six months ended June 30, 2022[194]. Financial Reporting and Standards - The company has adopted several new Hong Kong Financial Reporting Standards effective January 1, 2022, but these did not significantly impact the financial statements[130]. - The company's financial risk management policies have remained unchanged since the end of the previous reporting period[136]. - The company's financial statements for the six months ended June 30, 2022, were approved for publication by the board on August 31, 2022[124]. - The interim financial information has not been audited but has been reviewed by the company's audit committee[128].

Financial Performance - The company's revenue for the year ended December 31, 2021, was approximately HKD 11.01 billion, a decrease of about 21.79% compared to HKD 14.08 billion in the same period of 2020[8]. - Gross profit for the period was approximately HKD 428.83 million, an increase of about 84.07% from HKD 232.98 million in 2020, resulting in a gross margin increase from approximately 1.65% to 3.89%[8]. - The net profit attributable to the owners of the company was approximately HKD 94.30 million, down from HKD 321.80 million in 2020[8]. - Revenue from the energy trading business was approximately HKD 10.70 billion, a decrease of about 23.68% from HKD 14.02 billion in the previous year[10]. - Revenue from the energy transportation business increased by approximately 251.82% to HKD 18.40 million, compared to HKD 5.23 million in 2020[12]. - The energy digital trading industrial park generated revenue of approximately HKD 26.50 million, significantly up from HKD 3.36 million in 2020[17]. - The drilling services segment generated revenue of approximately HKD 259.94 million, compared to zero in the previous year[19]. - The group's revenue decreased by 21.79% to approximately HKD 11.01 billion (2020: HKD 14.08 billion), primarily due to a reduction in fuel trade volume[33]. - The net profit attributable to the company's owners was approximately HKD 94.30 million (2020: HKD 321.80 million), a decrease of about 70.70%[33]. - The group recorded a financing cost of approximately HKD 24.70 million, a decrease of about 40.84% compared to HKD 41.75 million in 2020[34]. - The basic earnings per share were approximately HKD 0.0212, a decrease of about 73.53% from HKD 0.0801 in 2020[35]. Business Operations - The company suspended its energy trading business in October 2021 due to geopolitical challenges and oil price volatility, with plans to consider resuming once prices stabilize[9]. - The company has signed cooperation agreements with enterprises in 13 cities/regions in China for the energy digital trading industrial park, successfully attracting at least 236 enterprises since its launch[17]. - The company has entered into a new drilling service agreement to provide services for 63 oil wells, with a contract value exceeding RMB 7.48 million, although the project has faced delays due to COVID-19[19]. - The group plans to operate 30 digital industry parks and attract over 1,000 enterprises, aiming for service revenue of RMB 80 million in 2022[28]. - The group will continue to explore new investment opportunities in energy extraction, oil exploration technology services, and energy finance to enhance competitiveness[31]. - The company has established various committees, including the audit, remuneration, and nomination committees, to assist the board in fulfilling its responsibilities[67]. - The company has engaged an independent professional consulting firm to review the effectiveness and adequacy of its risk management and internal control systems during the reporting period[105]. - The company is committed to minimizing its environmental impact during operations and aims to become an environmentally friendly enterprise[141]. Corporate Governance - The company's management emphasizes high corporate governance standards to enhance shareholder value and provide stable returns[61]. - The board of directors is composed of experienced individuals with a balanced representation of executive, non-executive, and independent directors, ensuring independent judgment on strategy and management processes[69]. - The company has complied with corporate governance codes, ensuring at least three independent non-executive directors are present on the board[69]. - The chairman and CEO roles are clearly separated, aligning with corporate governance best practices[69]. - The Audit Committee held three meetings during the reporting period to review financial statements and compliance with regulatory requirements[91]. - The Remuneration Committee is responsible for determining the remuneration policy for all executive directors and senior management, ensuring competitive compensation to attract and retain talent[94]. - The Nomination Committee evaluates the board's structure and composition, making recommendations for appointments and assessing the independence of non-executive directors[97]. - The company has established a board diversity policy, considering factors such as gender, age, cultural background, and professional experience in board member selection[82]. - The company is committed to appointing at least one female director in accordance with listing rules[83]. - The independent non-executive directors bring extensive experience in accounting, auditing, and corporate finance to the board[128][131]. Shareholder Information - The company has established a shareholder communication policy to ensure timely access to financial information for shareholders and potential investors[115]. - The board of directors has reviewed the communication policy and deemed it effective[117]. - Shareholders holding at least 10% of the paid-up capital have the right to request the board to convene a special general meeting within two months of submitting a written request[111]. - The company reported no final dividend for the year ended December 31, 2021[138]. - As of December 31, 2021, the company's share premium was HKD 321,958,000 and accumulated losses were HKD 521,804,000[149]. Risk Management - The board believes that the risk management and internal control systems are sufficient and effective during the reporting period[105]. - The company has arranged appropriate directors and senior officers liability insurance during the reporting period[160]. - The company has not established an internal audit department due to its simple operational management structure[105]. Stock Options and Shareholding - The new share option plan adopted on September 16, 2019, allows for the issuance of up to 856,700,000 shares, approximately 19.23% of the total issued share capital[178]. - The company granted 125,000,000 share options at an exercise price of HKD 0.15 to five participants on May 20, 2021[177]. - As of December 31, 2021, the total number of stock options granted and exercised amounted to 814,700,000[181]. - The company has a total of 694,700,000 stock options that were granted but not yet exercised as of the reporting date[181]. - The company has not entered into any service contracts with directors that cannot be terminated within one year without compensation[161]. - The company confirmed that all independent non-executive directors remain independent as of the report date[198]. Market Competition - The company faced significant competition from other large domestic fuel distributors and overseas oil companies as the Chinese oil market gradually opens[144]. - The company is continuously monitoring industry competitors and developing potential markets to reduce market competition risks[144].

Revenue and Profitability - The company's revenue for the six months ended June 30, 2021, was approximately HKD 9,384.68 million, a significant increase of about 247.04% compared to HKD 2,704.18 million in the same period of 2020[11]. - Gross profit for the same period was approximately HKD 317.34 million, an increase of about HKD 506.17 million from a gross loss of HKD 188.83 million in the prior year[11]. - Revenue from energy trading increased to approximately HKD 9,078.63 million, representing a 2.38 times increase from HKD 2,689.96 million in the same period of 2020, accounting for about 96.74% of total revenue[11]. - The company reported a total profit of HKD 162,263,000 for the six months ended June 30, 2021, compared to a loss in the previous period, showcasing a turnaround in profitability[132]. - Net profit for the period was HKD 123,043 thousand, compared to a net loss in the prior year[75]. - Basic earnings per share for the period were HKD 2.54, slightly down from HKD 2.73 in 2020[76]. - Diluted earnings per share were HKD 2.36, compared to HKD 2.62 in the same period last year[76]. - The company's profit for the period reached HKD 123,043,000, compared to HKD 55,309,000 in the previous period, representing a significant increase[79]. - Total comprehensive income for the period amounted to HKD 130,690,000, up from HKD 62,481,000 year-on-year[79]. Business Segments and Operations - The energy transportation business generated revenue of approximately HKD 17.73 million, with no revenue reported in the same period of 2020, following the acquisition of a logistics company[12]. - The energy digital trading industrial park generated revenue of approximately HKD 26.30 million, with this business category launched in the second half of 2020[13]. - Drilling services generated revenue of approximately HKD 258.79 million, with no revenue reported in the same period of 2020[15]. - Customs declaration services generated revenue of approximately HKD 3.04 million, with no revenue reported in the same period of 2020[16]. - The company has signed cooperation agreements with enterprises in 13 cities/regions in China for the energy digital trading industrial park, successfully attracting at least 236 enterprises[13]. - The company believes that the energy digital trading industrial park will continue to contribute economically and provide new opportunities for its energy trading business in the future[13]. Financial Position and Ratios - The group's cash and cash equivalents were approximately HKD 52.91 million as of June 30, 2021, down from HKD 116.71 million as of December 31, 2020[23]. - The current ratio was approximately 1.07 as of June 30, 2021, compared to 1.04 as of December 31, 2020[23]. - The group's capital debt ratio was 225.51% as of June 30, 2021, down from 674% as of December 31, 2020[25]. - The company reported total liabilities of HKD 1,055,502,000 as of June 30, 2021, compared to HKD 363,771,000 as of December 31, 2020, marking an increase of approximately 190%[178]. - The company's total assets as of June 30, 2021, were HKD 3,207,029,000, compared to HKD 1,725,438,000 at the end of 2020, indicating a growth of approximately 85.7%[81]. - Total liabilities increased to HKD 3,005,100,000 from HKD 1,668,898,000, representing an increase of approximately 79.9%[83]. - The company's equity attributable to owners increased to HKD 187,283,000 from HKD 63,828,000, showing a growth of about 194.5%[81]. Cash Flow and Financing - Operating cash flow used was (HKD 54,705,000) in 2021 compared to (HKD 798,054,000) in 2020, indicating a significant reduction in cash outflow[93]. - Net cash used in investing activities was (HKD 1,418,000) in 2021, slightly higher than (HKD 1,267,000) in 2020[93]. - Net cash generated from financing activities was (HKD 8,420,000) in 2021, a substantial decrease from (HKD 548,092,000) in 2020[96]. - The company reported a total bank borrowings of HKD 36,043,000 in 2021, with interest paid amounting to (HKD 9,386,000)[93]. - The company maintained sufficient resources to meet its obligations over the next year, indicating a focus on liquidity management[112]. Corporate Governance and Compliance - The company’s board of directors and senior management reviewed the unaudited consolidated financial statements for the six months ended June 30, 2021, and found no disagreement with the accounting treatment adopted[49]. - The company is committed to adhering to corporate governance standards as outlined in the listing rules[46]. - The company’s audit committee consists of three independent non-executive directors, ensuring compliance with financial reporting and internal control procedures[49]. Future Outlook and Strategy - The company plans to continue expanding its existing business and explore new opportunities in various energy sectors[33]. - Future outlook includes continued expansion in energy trading and digital trade sectors, leveraging the significant revenue growth achieved[132]. - The company is exploring new strategies for market expansion and product development to sustain growth momentum[132].