Financial Performance - For the six months ended June 30, 2024, the group's revenue was approximately MOP 6.1 million, a decrease of about 89.5% compared to MOP 58.4 million for the same period in 2023[1] - The loss for the six months ended June 30, 2024, was approximately MOP 58.6 million, an increase of about 630.2% from a loss of MOP 8.0 million in the same period in 2023[1] - The basic loss per share for the six months ended June 30, 2024, was approximately MOP 11.6 cents, compared to MOP 1.6 cents for the same period in 2023[1] - The group's gross profit for the six months ended June 30, 2024, was MOP 178 thousand, down from MOP 2.0 million in the same period in 2023[2] - Revenue for the six months ended June 30, 2024, was MOP 6,126,000, a significant decrease from MOP 58,445,000 for the same period in 2023, representing a decline of approximately 89.5%[7] - The company reported a loss before tax of MOP 58,582,000 for the six months ended June 30, 2024, compared to a loss of MOP 7,053,000 for the same period in 2023, indicating a substantial increase in losses[10] - Total revenue for the six months ended June 30, 2024, was approximately MOP 6.1 million, a decrease of about MOP 52.3 million or 89.5% compared to MOP 58.4 million for the same period in 2023[21] - The group recorded a loss of approximately MOP 58.6 million for the six months ended June 30, 2024, an increase of about MOP 50.6 million or 630.2% compared to a loss of MOP 8.0 million for the same period in 2023[29] - Direct costs decreased to approximately MOP 5.9 million for the six months ended June 30, 2024, down about MOP 50.5 million or 89.5% from MOP 56.4 million for the same period in 2023[22] - Gross profit for the six months ended June 30, 2024, was approximately MOP 0.2 million, with a gross margin of about 2.9%, compared to a gross profit of MOP 2.0 million and a margin of 3.5% for the same period in 2023[23] - Other income and net gains for the six months ended June 30, 2024, were approximately MOP 1,000, a decrease of about MOP 200,000 or 99.5% from MOP 201,000 for the same period in 2023[24] Administrative and Operational Costs - Administrative expenses increased to MOP 14.4 million for the six months ended June 30, 2024, compared to MOP 7.2 million in the same period in 2023[2] - The company reported administrative expenses of MOP (14,422,000) for the six months ended June 30, 2024, compared to MOP (7,216,000) for the same period in 2023, indicating an increase in administrative costs[10] - Administrative expenses increased to approximately MOP 14.4 million for the six months ended June 30, 2024, representing about 235.4% of total revenue, compared to MOP 7.2 million or 12.3% for the same period in 2023[26] - Total employee costs for the six months ended June 30, 2024, were approximately MOP 8.2 million, compared to MOP 3.5 million for the same period in 2023[38] Current Financial Position - Trade receivables as of June 30, 2024, were MOP 45.7 million, down from MOP 95.1 million as of December 31, 2023[3] - The company had trade receivables of MOP 45,656,000 as of June 30, 2024, down from MOP 95,098,000 as of December 31, 2023, reflecting a decrease of approximately 52.0%[15] - Current liabilities totaled MOP 188.8 million as of June 30, 2024, compared to MOP 184.5 million as of December 31, 2023[3] - The net current liabilities increased to MOP 75.7 million as of June 30, 2024, from MOP 17.4 million as of December 31, 2023[3] - As of June 30, 2024, the group had bank borrowings and overdrafts of approximately MOP 64.5 million, an increase from MOP 62.7 million as of December 31, 2023[31] - The debt-to-equity ratio as of June 30, 2024, was approximately 86.7%, a significant decrease from approximately 1,768.0% as of December 31, 2023[32] - The group had cash and cash equivalents of approximately MOP 17.3 million as of June 30, 2024, a decrease of about 12.4% from MOP 19.8 million as of December 31, 2023[30] Dividend and Shareholder Information - The board of directors did not recommend the payment of any interim dividend for the six months ended June 30, 2024[1] - The group did not declare any dividends for the six months ended June 30, 2024, nor for the same period in 2023[18] - The board does not recommend the payment of dividends for the six months ending June 30, 2024[48] - The company's authorized share capital as of June 30, 2024, was HKD 10,000,000, with 504,650,000 shares issued[35] - The company has a share option plan that allows for the issuance of up to 50,000,000 shares, representing 9.91% of the issued shares as of the announcement date[43] - The company plans to update the share option plan authorization limit upon shareholder approval, allowing for a potential increase to 10% of the issued shares[43] Governance and Compliance - The company has adopted the Corporate Governance Code as per the Hong Kong Stock Exchange rules[45] - The audit committee consists of three independent non-executive directors who reviewed the unaudited interim results[49] - The company has complied with the standards for directors' securities trading as per the relevant rules[47] - The company has not adopted any new or revised Hong Kong Financial Reporting Standards that are not yet effective during the reporting period[6] Business Operations and Strategy - The company continues to focus on providing renovation and maintenance services in Macau[4] - The segment revenue for renovation services was MOP 6,126,000 for the six months ended June 30, 2024, while there was no revenue from maintenance services during the same period[10] - The group completed 14 renovation projects and was awarded 22 renovation projects, all located in Macau, for the six months ended June 30, 2024[20] - The company’s clients primarily consist of hotel and entertainment operators in Macau, with contracts mainly being fixed-price agreements[7] - The group anticipates multiple casino-related projects available for bidding as tourism restrictions ease, aiming to gradually restore financial performance[19] Miscellaneous - The company has not disclosed any new product developments, market expansions, or mergers and acquisitions during the reporting period[9] - There were no significant acquisitions or disposals of subsidiaries or associates during the six months ended June 30, 2024[37] - The group currently has no significant capital commitments as of June 30, 2024, consistent with the previous period[36] - The group does not currently have a foreign currency hedging policy but monitors foreign exchange risks and may consider hedging significant exposures if necessary[35] - The document does not provide specific financial performance metrics or future guidance, indicating a lack of detailed financial data in this excerpt[51] - The content lacks specific numerical data or percentage changes related to performance or projections[51] - No information is available regarding mergers or acquisitions in this document[51] - The focus is primarily on the composition of the board rather than financial results or strategic initiatives[51] - The document does not include any insights into new technologies or research and development efforts[51] - Overall, the content is limited to governance details without substantial financial analysis or market outlook[51]

Financial Performance - The company's revenue increased by approximately MOP 51.2 million or 93.9% from about MOP 54.6 million for the year ended December 31, 2022, to approximately MOP 105.8 million for the year ended December 31, 2023[5]. - The company recorded a net loss of approximately MOP 27.8 million for the year ended December 31, 2023, compared to a net loss of approximately MOP 70.6 million for the year ended December 31, 2022[11]. - The gross loss decreased from approximately 34.9 million MOP for the year ended December 31, 2022, to approximately 5.3 million MOP for the year ended December 31, 2023, resulting in a gross loss margin reduction from about 64.0% to 5.0%[15]. - The net loss for the year ended December 31, 2023, was approximately 27.8 million MOP, a reduction of about 42.8 million MOP compared to a loss of approximately 70.6 million MOP in 2022[23]. - Cash and cash equivalents decreased by approximately 42.1% from about 34.2 million MOP in 2022 to approximately 19.8 million MOP in 2023[24]. - The group reported a cumulative loss of approximately MOP 210,449,000 as of December 31, 2023, compared to MOP 182,663,000 in 2022, indicating a significant increase in losses[79]. - Total borrowings amounted to MOP 62,675,000, down from MOP 81,188,000 in the previous year, reflecting a reduction in debt levels[79]. Project and Market Outlook - The company completed 54 renovation projects and was awarded 65 renovation projects during the year ended December 31, 2023[11]. - The company believes that the number of projects will increase in the future, improving its financial performance[6]. - The company anticipates significant growth in hotel and gaming projects, which will greatly enhance its financial performance[10]. - The company primarily focuses on providing renovation services for commercial markets, especially facilities within integrated resorts in Macau[9]. - The company has established business relationships with major licensed gaming operators in Macau, which contributes to its success[9]. - The company has seen an increase in the number of tenders received since 2023, indicating a positive outlook for operational cash flow[85]. Governance and Compliance - The company has adopted the Corporate Governance Code and complies with most provisions, except for the separation of the roles of Chairman and CEO[44]. - The board consists of six directors, including three independent non-executive directors, ensuring a balanced composition[46]. - The company has appointed three independent non-executive directors, with one possessing relevant professional accounting qualifications and financial management expertise[50]. - The board will continue to review the governance structure and may consider separating the roles of Chairman and CEO at an appropriate time[49]. - The audit committee reviewed the audited financial results for the year ending December 31, 2023, and discussed internal controls and risk management[64]. - The board believes that the risk management and internal control systems are adequate and effective during the reporting period[73]. - The group has not identified any violations of anti-corruption laws during the fiscal year ending December 31, 2023[170]. Employee and Labor Practices - Total employee count decreased from 64 in 2022 to 48 in 2023, representing a reduction of 25%[151]. - The company has implemented a comprehensive employee handbook covering recruitment, promotion, and equal opportunity policies[154]. - Employee training participation was 71% for female employees and 80% for male employees in 2023, down from 77% and 84% respectively in 2022[160]. - The company has maintained a strict compliance with labor laws, with no significant violations reported in the fiscal year ending December 31, 2023[162]. - The company has established a health and safety management system in compliance with local regulations, ensuring a safe working environment[157]. - The company has not reported any incidents of child or forced labor during the fiscal year 2023[162]. Environmental and Sustainability Initiatives - The group is committed to sustainable operations and has implemented environmental policies to manage the impact of construction activities[98]. - The total greenhouse gas emissions for the year ended December 31, 2023, were approximately 35.81 tons, with an average of 0.75 tons per employee, a decrease of 0.19 tons per employee compared to the previous year[131]. - The company has implemented measures to reduce energy consumption, such as turning off air conditioning at night and using LED lights[132]. - The company has established effective environmental management policies and internal control systems to comply with applicable environmental regulations[124]. - The company has trained contractors and workers on air pollution impacts to ensure air quality at construction sites[125]. - The company has adopted green procurement strategies and environmentally friendly construction materials to minimize carbon emissions and construction waste[137]. Strategic Growth and Future Plans - The company is expanding its market presence in Southeast Asia, targeting a 25% market share within the next two years[189]. - The management team emphasized a focus on sustainability initiatives, aiming to reduce carbon emissions by 40% by 2025[189]. - The company plans to enhance its digital marketing strategy, allocating an additional $5 million to improve online engagement and customer acquisition[189]. - Overall, the company remains optimistic about future growth, driven by new product offerings and market expansion strategies[189].

Financial Performance - For the year ended December 31, 2023, the group's revenue was approximately 105.8 million Macanese Patacas, an increase of about 93.9% compared to 54.6 million Macanese Patacas in the same period last year[10]. - The loss for the year ended December 31, 2023, was approximately 27.8 million Macanese Patacas, a reduction of about 60.5% from a loss of 70.6 million Macanese Patacas for the year ended December 31, 2022[10]. - Basic loss per share for the year ended December 31, 2023, was approximately 5.5 Macanese cents, down from 13.98 Macanese cents for the year ended December 31, 2022[10]. - Total comprehensive loss for the year was MOP (28,437) thousand, down from MOP (70,109) thousand in 2022, showing a 59% decrease[4]. - The group recorded a net loss of approximately 27.8 million MOP for the year ending December 31, 2023, a decrease of about 42.8 million MOP compared to a loss of approximately 70.6 million MOP for the previous year[131]. Revenue Sources - Revenue for 2023 was MOP 105,848 thousand, a significant increase from MOP 54,594 thousand in 2022, representing a growth of 94%[41]. - Revenue from renovation services was 105,456 thousand MOP in 2023, a substantial increase from 54,594 thousand MOP in 2022, reflecting a growth of approximately 93%[71]. - Revenue from renovation services accounted for approximately 99.3% and 99.6% of total revenue for the years ended December 31, 2022, and December 31, 2023, respectively[98]. - Major client B contributed 71,120 thousand MOP in revenue in 2023, a significant increase from 12,105 thousand MOP in 2022, showcasing a growth of approximately 485%[75]. Cost Management - The group plans to continue implementing cost control measures, including optimizing human resources and controlling capital expenditures, to reduce cash outflows[23]. - The company’s administrative expenses increased to MOP (42,363) thousand in 2023 from MOP (31,656) thousand in 2022, a rise of 34%[4]. - Subcontracting costs increased by approximately 21.6 million MOP or 24.1%, totaling about 111.1 million MOP for the year ending December 31, 2023, indicating a rise in costs associated with increased revenue[125]. Assets and Liabilities - As of December 31, 2023, the group had accumulated losses of approximately 210.4 million Macanese Patacas, compared to 182.7 million Macanese Patacas in 2022[22]. - The group’s total assets minus current liabilities were reported at (15.9) million Macanese Patacas, compared to 12.6 million Macanese Patacas in the previous year[14]. - The company’s total liabilities as of December 31, 2023, were reported at 83.1 million Macanese Patacas, a decrease from 88.2 million Macanese Patacas in the previous year[115]. - Trade receivables as of December 31, 2023, totaled 127.3 million Macanese Patacas, with a provision for impairment losses of 32.2 million Macanese Patacas[109]. Cash Flow and Financing - Cash and cash equivalents were approximately 4.5 million Macanese Patacas, slightly down from 4.7 million Macanese Patacas in 2022[22]. - The total borrowings of the group were approximately 62.7 million Macanese Patacas, down from 81.2 million Macanese Patacas in 2022[22]. - The company is currently negotiating with multiple financial institutions for the extension of existing bank financing to support operational funding in the foreseeable future[38]. - The group has adopted a prudent cash management policy to ensure sufficient liquidity for operational needs and to maintain reasonable financing costs[163]. Dividend Policy - The company does not recommend the payment of a final dividend for the year ended December 31, 2023[10]. - The company did not recommend paying dividends to ordinary shareholders as of December 31, 2023, consistent with the previous year[108]. - The company has no predetermined dividend payout ratio, and any future dividend declaration will be at the discretion of the board of directors[171]. Operational Challenges - The group is facing multiple uncertainties related to its ongoing operations[179]. - The company has taken measures to alleviate liquidity pressure and improve its financial condition, including actively bidding for potential projects to increase future revenue[60]. - The company is focused on enhancing its operational environment and construction activities in Macau, which are gradually returning to normal post-pandemic[60]. Audit and Compliance - The audit committee reviewed the financial performance and internal controls as of December 31, 2023[189]. - The financial statements have been agreed upon by the group's auditor, but no assurance has been provided regarding the preliminary announcement[188].

Financial Performance - Total revenue increased from approximately MOP 47.1 million for the six months ended June 30, 2022, to approximately MOP 58.4 million for the six months ended June 30, 2023, representing a growth of 24.2%[20] - The group recorded a loss of approximately 8.0 million MOP, a decrease of about 77.3% compared to a loss of approximately 35.3 million MOP for the same period in 2022[36][42] - The group’s gross profit for the six months ended June 30, 2023, was approximately 2.0 million MOP, with a gross profit margin of about 3.5%, compared to a gross loss of approximately 19.9 million MOP and a gross loss margin of about 42.4% for the same period in 2022[37] - The total comprehensive income for the six months ended June 30, 2023, was a loss of MOP 8,006,000, compared to a loss of MOP 35,331,000 for the same period in 2022[92] - The group incurred a loss before tax of MOP 7,053,000 for the six months ended June 30, 2023, significantly improved from a loss of MOP 35,340,000 in the same period last year[74] Cost Management - Direct costs decreased from approximately MOP 67.0 million for the six months ended June 30, 2022, to approximately MOP 56.4 million for the six months ended June 30, 2023, a reduction of 15.8%[8] - Administrative expenses decreased from approximately MOP 15.8 million to MOP 7.2 million, accounting for 33.6% and 12.3% of total revenue for the respective periods[10] - Total employee costs decreased from approximately MOP 22.3 million to MOP 15.4 million, primarily due to a reduction in the number of employees from 87 to 67[31] Revenue Sources - The group recorded revenue from renovation services of MOP 58,337,000 for the six months ended June 30, 2023, up from MOP 46,919,000 in the previous year[87] - Total revenue for the six months ended June 30, 2023, was MOP 47,050,000, with a significant portion coming from renovation services at MOP 46,919,000[130] Financial Position - The asset-to-equity ratio as of June 30, 2023, was approximately 1,768.0%, compared to 646.8% as of December 31, 2022[28] - The total equity of the group decreased from approximately 12.6 million MOP as of December 31, 2022, to approximately 4.5 million MOP as of June 30, 2023, a reduction of about 63.8%[46] - The group’s total assets as of June 30, 2023, were MOP 209,832,000, slightly down from MOP 214,356,000 as of December 31, 2022[75] - The group’s net current assets decreased to MOP 2,725,000 as of June 30, 2023, compared to MOP 10,221,000 as of December 31, 2022[75] Cash Flow - As of June 30, 2023, the group's cash and cash equivalents totaled approximately 31.8 million MOP, a decrease of about 7.0% from approximately 34.2 million MOP as of December 31, 2022[43] - The company reported a net cash inflow from operating activities of MOP 999,000 for the six months ended June 30, 2023, compared to a net cash outflow of MOP 8,394,000 for the same period in 2022[94] - The company incurred a net cash outflow from financing activities of MOP 3,515,000 for the six months ended June 30, 2023, compared to a net cash inflow of MOP 16,082,000 for the same period in 2022[94] - The company’s investment activities resulted in a net cash inflow of MOP 350,000 for the six months ended June 30, 2023, compared to a net cash outflow of MOP 9,074,000 for the same period in 2022[94] Corporate Governance - The company has adopted the Corporate Governance Code as per the listing rules to enhance shareholder rights and corporate accountability[124] - The board consists of nine directors, including three independent non-executive directors, ensuring sufficient independent opinions to protect the interests of the company and its shareholders[114] - The company has complied with the Corporate Governance Code, except for the provision that the roles of chairman and CEO should be held by different individuals[114] Future Outlook - The company continues to establish business relationships with major licensed gaming operators in Macau, which is expected to support future growth[18] - The company plans to continue bidding for various casino-related projects as tourism restrictions ease, aiming to gradually restore financial performance[7] - The group aims to diversify its business by expanding into related sectors to increase revenue sources, primarily focusing on renovation services for major licensed gaming operators in Macau[72] Shareholder Matters - The board does not recommend the payment of an interim dividend for the six months ended June 30, 2023, considering the overall operating performance and financial condition of the group[57] - The company does not recommend the payment of dividends for the six months ended June 30, 2023, consistent with no dividends declared for the same period in 2022[176]

Financial Performance - The total revenue for the year ended December 31, 2022, was approximately MOP 54.6 million, a decrease of about MOP 205.8 million or 79.0% from approximately MOP 260.4 million for the year ended December 31, 2021[7][16]. - The gross loss for the year ended December 31, 2022, was approximately MOP 34.9 million, a decrease of about MOP 62.6 million from approximately MOP 97.5 million for the year ended December 31, 2021, resulting in a gross loss margin of approximately 64.0%[17]. - The company recorded a loss of approximately 70.6 million MOP for the year ended December 31, 2022, compared to a loss of approximately 231.4 million MOP for the year ended December 31, 2021, a reduction of about 160.8 million MOP[36]. - The company recorded income tax expenses of approximately MOP 0.1 million for the year ended December 31, 2022, with an effective tax rate of approximately -0.2%[20]. - The total employee cost for the year ended December 31, 2022, was approximately 41.7 million MOP, down from approximately 49.8 million MOP in 2021, primarily due to a reduction in average working days[48]. - Administrative expenses increased slightly from approximately 30.9 million MOP in 2021 to approximately 31.7 million MOP in 2022, accounting for about 58.0% of total revenue in 2022[33]. Assets and Liabilities - The asset-liability ratio as of December 31, 2022, was approximately 646.7%, compared to about 108.0% as of December 31, 2021[23]. - The company's total equity decreased from approximately 74.5 million MOP as of December 31, 2021, to approximately 12.6 million MOP as of December 31, 2022, impacting the debt-to-equity ratio[39]. - The company's bank borrowings and overdrafts totaled approximately 81.2 million MOP as of December 31, 2022, compared to approximately 80.5 million MOP in 2021[38]. - As of December 31, 2022, the company had total cash and bank deposits of approximately 34.2 million MOP, a decrease of about 13.4% from approximately 39.5 million MOP in 2021[37]. Business Strategy and Market Position - The company aims to strengthen its market position in the Macau renovation industry by enhancing financial stability, expanding its customer base, and improving human resources[11]. - The company has established business relationships with major licensed gaming operators and other renovation contractors in Macau, which is expected to contribute to future success[14]. - The easing of COVID-19 restrictions in Macau since December 2022 is anticipated to lead to an increase in hotel and gaming projects, thereby improving the company's financial performance[15]. - The company plans to undertake more large-scale renovation projects as the number of tender opportunities is expected to rise following the relaxation of pandemic measures[12]. - The group is seizing opportunities to bid on potential projects to increase revenue over the next few years[167]. Corporate Governance - The board consists of seven directors, including three independent non-executive directors, ensuring sufficient independent opinions to protect the interests of the company and its shareholders[61]. - The board is responsible for formulating business policies and strategies, ensuring adequate resources and effective internal controls[77]. - The audit committee held eleven meetings during the reporting period to review the audited financial statements and discuss accounting policies[88]. - The remuneration committee held one meeting during the reporting period to review and recommend remuneration for directors and senior management[90]. - The nomination committee consists of one executive director and two independent non-executive directors, with the chairman being an executive director[92]. - The board held a total of fifteen meetings during the reporting period to review compliance with corporate governance and legal regulations[93]. - Independent non-executive directors are actively involved in providing independent judgment on strategy and performance matters[78]. - The company has established three committees: audit committee, remuneration committee, and nomination committee, each with defined terms of reference[86]. - The board believes that the participation of independent non-executive directors can safeguard the interests of all shareholders[80]. - The company has arranged appropriate insurance to protect directors and senior officers against legal actions arising from company affairs[78]. Risk Management and Compliance - The company has a comprehensive risk management and internal control system that is deemed sufficient and effective by the board[105]. - The board emphasizes that the risk management and internal control systems are designed to manage risks rather than eliminate them, providing reasonable assurance against material misstatements[120]. - The group adheres strictly to the Securities and Futures Ordinance and ensures timely public disclosure of inside information, maintaining confidentiality until full disclosure[121]. - The company has engaged external auditors to provide assurance on its financial statements, ensuring transparency and accountability[106]. - The group maintains a zero-tolerance policy towards all forms of corruption, bribery, and extortion, emphasizing high ethical standards[152]. - There were no legal actions taken against the group or its employees regarding corruption during the fiscal year 2022[135]. - The group has implemented measures for customer due diligence and provides training related to anti-money laundering for employees[138]. Environmental and Social Responsibility - The company has implemented environmental and community engagement policies to minimize the social impact of its construction activities[112]. - The board and senior management have assessed sustainability issues and identified key ESG factors for monitoring[142]. - The group is committed to protecting employee health and safety, with comprehensive safety policies and measures in place[145]. - The group has not set specific targets for key performance indicators during the reporting period, but its environmental and social impacts are in line with industry standards[150]. Shareholder Information - The company does not recommend the payment of a final dividend for the year ended December 31, 2022[71]. - As of December 31, 2022, the number of issued shares was 504,650,000, with a par value of HKD 0.01 per share, an increase from 500,000,000 shares as of December 31, 2021[55]. - The net proceeds from the placement of shares amounted to approximately 7.9 million HKD, which was used to supplement working capital and general business operations[42]. - The net proceeds from the placement of 4,650,000 new shares amounted to approximately MOP 8,238,000, intended for loan repayment, working capital, and general business operations[55]. Financial Reporting and Accounting - The group's current tax liabilities are calculated based on taxable profits for the year, using tax rates enacted or substantively enacted before the end of the reporting period[186]. - Gains or losses from the sale or disposal of property and equipment are determined by the difference between the sale proceeds and the carrying amount of the asset, recognized in profit or loss[187]. - The group accounts for refundable rental deposits at fair value and includes any fair value adjustments as part of the cost of the right-of-use asset[191]. - Currency exchange differences arising from the settlement and remeasurement of monetary items are recognized in profit or loss during the period they occur[197]. - Government grants that compensate for incurred expenses or losses are recognized in profit or loss when receivable and presented under "other income"[198]. - The group transfers amounts previously recognized in other reserves to share premium when the granted shares vest[200].

Financial Performance - The company reported a revenue of MOP 47,050 thousand for the six months ended June 30, 2022, a decrease of 73.8% compared to MOP 179,620 thousand for the same period in 2021[40]. - The gross loss for the period was MOP 19,937 thousand, compared to a gross profit of MOP 33,447 thousand in the previous year[40]. - The company incurred a loss before tax of MOP 35,340 thousand, compared to a profit before tax of MOP 15,153 thousand in the same period last year[40]. - The basic loss per share was MOP (7.0), a decline from earnings per share of MOP 2.6 in the prior year[40]. - Total revenue decreased by approximately 132.5 million MOP or 73.8% to about 47.1 million MOP for the six months ended June 30, 2022, compared to approximately 179.6 million MOP for the same period in 2021[104]. - The group recorded a loss of approximately 35.3 million MOP for the six months ended June 30, 2022, compared to a profit of approximately 13.1 million MOP for the same period in 2021, representing a decrease of about 48.4 million MOP or 370.5%[114]. - The pre-tax profit for the six months ended June 30, 2022, was 15,153 thousand MOP, a decrease from 33,264 thousand MOP in the same period of 2021[75]. Shareholder Information - The board does not recommend the payment of an interim dividend for the six months ending June 30, 2022, considering the overall performance and financial condition[6]. - The board of directors did not recommend the payment of dividends for the six months ended June 30, 2022, considering the overall performance and financial condition of the group[37]. - No dividends were recommended for the six months ended June 30, 2022, similar to the previous year[142]. Capital and Financing - The net proceeds from the share offering amounted to approximately HKD 141.2 million, fully utilized by June 30, 2021[1]. - The company has entered into a subscription agreement for convertible bonds with a principal amount of HKD 52 million, potentially issuing up to 2.6 billion shares if fully converted[2]. - The net proceeds from the issuance of convertible bonds, after deducting all related costs and expenses, are expected to be approximately HKD 51.5 million[2]. - The company has utilized HKD 82.2 million for prior costs and HKD 31.1 million for performance guarantees from the share offering proceeds[1]. - The company is currently in discussions with banks regarding the renewal of its financing arrangements[5]. - As of the report date, the total outstanding principal of bank financing is approximately MOP 47.1 million, with discussions ongoing for renewal[5]. - The net cash generated from financing activities was 16,082 thousand MOP, a notable increase from (2,893) thousand MOP in the prior year, reflecting successful capital raising efforts[52]. Corporate Governance - The company is committed to maintaining high levels of corporate governance to safeguard shareholder interests and enhance corporate value[35]. - The company has adopted the Corporate Governance Code as per the Hong Kong Stock Exchange Listing Rules[35]. - The board consists of nine directors, including three independent non-executive directors, ensuring sufficient independent opinions to protect the interests of the company and its shareholders[35]. - The company has adopted the "Standard Code" for securities transactions by directors, ensuring compliance during the reporting period[36]. - The interim financial report for the six months ended June 30, 2022, was reviewed by the audit committee without any objections[143]. Operational Performance - The company’s primary business involves providing renovation and maintenance services in Macau, with contracts primarily based on fixed pricing[66]. - The group’s main customers are hotel and entertainment operators in Macau, highlighting a focused market strategy[66]. - The group operates in two main segments: renovation services and maintenance services, with performance evaluations conducted by the executive directors[69]. - The group completed 16 renovation projects and was awarded 30 renovation projects, all located in Macau, during the six months ended June 30, 2022[103]. - The group continues to strengthen and diversify its business by providing design assistance and procurement of renovation materials for major clients[139]. - The management team possesses extensive industry knowledge and experience, which aids in maintaining stable relationships with suppliers and subcontractors[136]. Assets and Liabilities - Total assets decreased to MOP 2,556 thousand as of June 30, 2022, down from MOP 3,148 thousand as of December 31, 2021[43]. - Current liabilities amounted to MOP 203,797 thousand, slightly up from MOP 179,344 thousand at the end of the previous year[43]. - The company's net asset value was MOP 47,332 thousand as of June 30, 2022, compared to MOP 74,508 thousand at the end of 2021[43]. - As of June 30, 2022, the group had bank borrowings and overdrafts of approximately 91.2 million MOP, an increase from about 80.5 million MOP as of December 31, 2021[117]. - The debt-to-equity ratio as of June 30, 2022, was approximately 192.6%, up from about 108.0% as of December 31, 2021, due to an increase in total debt from approximately 80.5 million MOP to about 91.2 million MOP[118]. Employee Information - As of June 30, 2022, the group had 87 employees, a decrease from 108 employees as of June 30, 2021, resulting in total employee costs of approximately MOP 22.3 million compared to MOP 24.0 million in the previous year[123]. Market Conditions - The construction industry in Macau faces challenges due to the economic difficulties caused by the COVID-19 pandemic, affecting project progress and increasing construction costs[137]. - The group aims to gradually return to normal operations despite the uncertain outlook and cautious spending by construction industry players[137]. - The group is focused on expanding its revenue sources by entering and diversifying related businesses[136].

Financial Performance - The company's revenue for the year ended December 31, 2021, was approximately MOP 260.4 million, a decrease of about MOP 245.9 million or 48.6% from MOP 506.3 million in 2020[6]. - The company recorded a net loss of approximately MOP 231.4 million for the year ended December 31, 2021, compared to a profit of approximately MOP 45.7 million in 2020[12]. - Revenue decreased by approximately 245.9 million MOP or 48.6% to about 260.4 million MOP for the year ended December 31, 2021, compared to approximately 506.3 million MOP for the year ended December 31, 2020[13]. - Gross loss amounted to approximately 97.5 million MOP for the year ended December 31, 2021, down from a gross profit of approximately 80.4 million MOP for the year ended December 31, 2020, resulting in a gross margin of approximately -37.4%[16]. - The company recorded a net loss of approximately 231.4 million MOP for the year ended December 31, 2021, a decrease of about 277.1 million MOP compared to a profit of approximately 45.7 million MOP for the year ended December 31, 2020[24]. - Cash and cash equivalents decreased by approximately 55.0% to about 39.5 million MOP as of December 31, 2021, from approximately 87.8 million MOP as of December 31, 2020[25]. - The debt-to-equity ratio increased to approximately 108.0% as of December 31, 2021, from about 27.5% as of December 31, 2020, due to a decrease in total equity[27]. Renovation Projects - The company completed 33 renovation projects and was awarded 43 renovation projects during the year ended December 31, 2021[12]. - The company’s renovation services accounted for approximately 99.9% of total revenue for both 2020 and 2021[10]. - The company faced intense competition in the second half of 2021, leading to unsuccessful bids on several projects due to competitors significantly lowering their bid prices[6]. - The majority of the company's clients are licensed gaming operators in Macau, with most of their shares listed on the Hong Kong Stock Exchange[10]. Strategic Initiatives - The company aims to strengthen its market position in the Macau renovation industry by enhancing its financial status to undertake larger projects, expanding its customer base, and improving human resources[6]. - The company is seeking diversification by exploring lithium resources and lithium battery technology to expand its business scope and overall revenue sources[11]. Governance and Management - The board of directors consists of seven members, including three independent non-executive directors, ensuring a balanced composition and independent judgment on strategic matters[50]. - The company’s governance structure includes an audit committee, a remuneration committee, and a nomination committee to assist the board in fulfilling its responsibilities[51]. - The company has implemented a performance review system to assess employee performance, which forms the basis for salary adjustments and promotions[38]. - The company has established an internal control and risk management system, which the Board believes is adequate and effective[79]. - The company emphasizes the importance of board diversity as a key element for maintaining competitive advantage, considering various factors such as skills, knowledge, gender, and professional experience[66]. Employee and Workforce - As of December 31, 2021, the group had 90 employees, a decrease from 110 employees in 2020, with total employee costs approximately MOP 49.9 million, up from MOP 49.7 million in 2020[38]. - The employee turnover rate for males was 18% overall, with the highest rate of 86% in China for the age group 30-39[151]. - The group has established clear policies to attract and retain talent, emphasizing a fair and safe working environment[148]. - Female employees receiving training increased from 75% in 2020 to 76% in 2021, while male employees increased from 80% to 82%[158]. Environmental, Social, and Governance (ESG) Practices - The group has maintained consistent ESG management strategies and objectives, with comparative data from the previous year included in the report[101]. - The group actively promotes environmental and community engagement policies to minimize social impacts from construction activities[94]. - The group has established appropriate and effective management policies and internal control systems for environmental, social, and governance (ESG) issues as of December 31, 2021[119]. - The company has implemented measures to reduce energy consumption, including turning off air conditioning systems when not in use and using LED lighting[129]. - The total greenhouse gas emissions for the year ended December 31, 2021, were approximately 79.82 tons, with an average of 0.89 tons per employee, representing an increase of 0.21 tons per employee compared to the previous year[128]. Community Engagement - The company actively encourages employees to participate in community service to enhance social and environmental awareness, thereby increasing corporate value[170]. - The company focuses on community investment, particularly in areas such as education, health, and environmental issues, although specific resource allocation details are not mentioned[182]. - The group actively contributes to community development and maintains close communication with the community[169]. Compliance and Risk Management - The group has developed a corporate fraud policy to promote control measures that help detect and prevent fraud against the group[107]. - The group conducts regular reviews and improvements of its anti-money laundering policies and internal control measures based on their effectiveness[110]. - The company has policies in place to prevent child labor and forced labor, ensuring compliance with significant laws and regulations[179].

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，概不會就因本公 告全部或任何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何 責任。 WAI HUNG GROUP HOLDINGS LIMITED 偉 鴻 集 團 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：3321） 截 至 二 零 二 二 年 十 二 月 三 十 一 日 止 年 度 年 度 業 績 公 告 摘要 • 於截至二零二二年十二月三十一日止年度，本集團之收益約為54.6百萬 澳門元，較去年同期之收益（二零二一年：260.4百萬澳門元）減少約79.0%， 截至二零二二年十二月三十一日止年度虧損約為70.6百萬澳門元，而截 至二零二一年十二月三十一日止年度虧損約為231.4百萬澳門元，減少約 69.5%。 • 於截至二零二二年十二月三十一日止年度，本公司之每股基本虧損約為 13.98澳門仙（二零二一年：46.3澳門仙）。有關減少與年內虧損較截至二 零二一年十二月三十一日止年度的減幅相符。 • 董事會並不建議派付截至二零二二年十二月三十一日止年度的末 ...

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，概不會就因本公 告全部或任何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何 責任。 WAI HUNG GROUP HOLDINGS LIMITED 偉 鴻 集 團 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：3321） 截 至 二 零 二 二 年 六 月 三 十 日 止 六 個 月 中 期 業 績 公 告 摘要 • 於截至二零二二年六月三十日止六個月，本集團之收益約為47.1百萬澳 門元，較二零二一年同期之收益（二零二一年六月三十日：179.6百萬澳門 元）減少約73.8%，截至二零二二年六月三十日止六個月虧損約為35.3百 萬澳門元，而二零二一年同期虧損約為13.1百萬澳門元，減少約370.5%。 • 於截至二零二二年六月三十日止六個月，本公司之每股基本虧損約為 7.0澳門仙（二零二一年六月三十日：每股基本虧損2.6澳門仙），乃基於 期 內 虧 損35.3百 萬 澳 門 元（二 零 二 一 年 六 月 三 十 日：期 內 溢 利13.1百 萬 澳門元）及 ...

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，概不會就因本公 告全部或任何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何 責任。 WAI HUNG GROUP HOLDINGS LIMITED 偉 鴻 集 團 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：3321） 截至二零二一年十二月三十一日止年度 年度業績公告 摘要 • 於截至二零二一年十二月三十一日止年度，本集團之收益約為260.4百萬 澳門元，較去年同期之收益（二零二零年：506.3百萬澳門元）減少約48.6%， 截至二零二一年十二月三十一日止年度虧損約為231.4百萬澳門元，而截 至二零二零年十二月三十一日止年度溢利約為45.7百萬澳門元，減少約 606.0%。 • 於截至二零二一年十二月三十一日止年度，本公司之每股基本虧損約為 46.3澳門 仙（二 零二零年：每股基本盈利9.1澳門仙）。有 關減少與年內溢 利較截至二零二零年十二月三十一日止年度的減少相符。 • 董事會並不建議派付截至二零二一年十二月三十一日止年度的末期股 息。 ...