香港交易及結算所有限公司及香港聯合交易所有限公司（「聯交所」）對本公佈之內容概不負責、對其準確性或完 整性亦不發表任何聲明，並明確表示概不就因本公佈全部或任何部分內容而產生或因依賴該等內容而引致之任何損 失承擔任何責任。 華 億金控 集 團 有 限 公 司 SINOFORTUNE FINANCIAL HOLDINGS LIMITED 王嘉偉 香港，二零二五年八月八日 於本公佈日期，執行董事為王嘉偉先生及黎玉梅女士，非執行董事為劉潤桐先生及獨立非執行董 事為張本正教授、李建行先生、陳樹文教授及李冠群先生。 本公佈的資料乃遵照聯交所 GEM 證券上市規則而刊載，旨在提供有關本公司的資料；本公司董 事願就本公佈的資料共同及個別地承擔全部責任。各董事在作出一切合理查詢後，確認就其所知 及所信，本公佈所載資料在各重要方面均屬準確完備，沒有誤導或欺詐成分，且並無遺漏任何事 項，足以令致本公佈或其所載任何陳述產生誤導。 華億金控集團有限公司（「本公司」）董事會（「董事會」）謹此宣佈，董事會謹訂於二零二五 年八月二十九日（星期五）下午三時三十分於香港中環干諾道中64-66號廠商會大廈16樓舉行董 事會會議，以商討下列事項： ...

致：香港交易及結算所有限公司 公司名稱: 華億金控集團有限公司 呈交日期: 2025年8月1日 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 08123 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 10,000,000,000 | HKD | | 0.01 HKD | | 100,000,000 | | 增加 / 減少 (-) | | | 0 | | | HKD | | 0 | | 本月底結存 | | | 10,000,000,000 | HKD | | 0.01 HKD | | 100,000,000 | 本月底法定/註冊股本總額： HKD 10 ...

Financial Performance - The Group recorded a loss of approximately HK$99.0 million for the year ended December 31, 2024, compared to a loss of approximately HK$15.8 million for the year ended December 31, 2023, representing an increase in loss of approximately HK$83.2 million[19]. - Total revenue for the year ended December 31, 2024, was approximately HK$32.3 million, a decrease of approximately HK$117.7 million compared to the previous year[20]. - Revenue from trading of motor vehicles, agency services, and accessories sourcing was approximately HK$32.1 million for the year ended December 31, 2024, down from approximately HK$149.7 million in the previous year, indicating a decrease of approximately 78.8%[20]. - The significant drop in revenue was primarily due to the adverse market conditions affecting the automotive sector[19]. - The Group's financial performance reflects the challenges faced in the current economic environment, impacting both revenue and profitability[21]. - The loss for the year ended December 31, 2024, was mainly attributable to the significant drop in revenue and the recognition of impairment losses[19]. - The significant loss was attributed to a drop in revenue, an impairment loss on advance payments for trading motor vehicles of approximately HK$75.8 million, and an impairment loss on property acquisition of approximately HK$1.5 million[38]. - The Group recorded total revenue of approximately HK$32.3 million for the year ended December 31, 2024, a decrease of approximately 78.5% compared to the previous year[37]. - The Group incurred a loss of approximately HK$99 million for the year, an increase of about 5.3 times compared to a loss of approximately HK$15.8 million in the previous year, driven by significant revenue decline and impairment losses[42]. Impairment Losses - The impairment loss on deposits paid for acquisition of motor vehicles for resale amounted to approximately RMB70.2 million (equivalent to approximately HK$75.8 million), which was recognized due to the inability to complete the purchases[19]. - The Group's management conducted a review of the Purchase Contracts and determined that the recoverability of the Advance Payments could not be assured, leading to the impairment charge[19]. - The impairment loss on advance payments for the purchase of trading motor vehicles amounted to approximately HK$75.8 million, with additional losses on settlement of advance payments of approximately HK$2.1 million[52]. - The impairment loss on deposits for the purchase of trading motor vehicles was recognized due to the ongoing price war in the PRC automotive market, which has made it difficult for the Group to compete[29]. Market Conditions - The Group anticipated a recovery in the PRC economy in 2024; however, domestic demand remained weak due to ongoing geopolitical and trade tensions[21]. - The decline in customer purchasing desire has been attributed to factors such as the COVID-19 pandemic, lockdowns in PRC, and the Sino-US trade war[21]. - The ongoing price war among automakers in the PRC has intensified competition, particularly in the new-energy vehicle sector, affecting the Group's market position[25]. Revenue Sources - The revenue of the Group as of December 31, 2024, primarily came from the trading of motor vehicles, provision of agency services, and accessories sourcing in the PRC[69]. - The Group's trading of motor vehicles revenue as a principal was approximately HK$30.8 million for the year ended December 31, 2024, down from approximately HK$148.3 million in the previous year[30]. - The Group's agency and service fees income from accessories sourcing was approximately HK$1.3 million for the year ended December 31, 2024, compared to approximately HK$1.4 million in the previous year[30]. Corporate Governance - The Company has complied with the corporate governance code provisions, except for the separation of roles between the chairman and chief executive officer[175]. - The current board consists of two executive and five non-executive Directors, with more than one-third being independent non-executive Directors[180]. - The Company is committed to maintaining a high standard of corporate governance, as detailed in the corporate governance report[158]. - The Company has adopted a code of conduct for Directors' securities transactions that meets the standards set out in the GEM Listing Rules[177]. - The Company received annual independence confirmations from all independent non-executive directors, affirming their independence[182]. Staff and Operations - As of December 31, 2024, the Group's total staff costs amounted to approximately HK$12.0 million, a decrease from approximately HK$13.7 million in 2023, with a workforce of 38 employees compared to 46 in the previous year[68]. - The Group plans to introduce more new energy vehicles and promote the trading of petrol vehicles and new energy vehicles to enhance business performance in the motor vehicle trading segment[74]. - Chongqing Sheng Yu Hong Jia International Trading Company Limited increased its customer base to 126, with 44 customers in negotiation, aiming to reduce reliance on a small number of customers[70]. Legal and Financial Matters - The Group did not have any contingent liabilities as of December 31, 2024, maintaining a stable risk profile[58]. - The Company does not plan to transfer any amount to reserves for the year ended December 31, 2024[99]. - The Company was incorporated on May 24, 2001, as an exempted company with limited liability in the Cayman Islands[97]. - The Company has a sufficient prescribed public float of the issued shares under the GEM Listing Rules[160]. Directors and Management - Mr. Wang Jiawei has been the Executive Director and CEO since September 22, 2015, and holds a Bachelor's degree in Mathematics and a Master's degree in Finance[83]. - Ms. Li Yumei has served as an Executive Director since August 1, 2015, and has been with the company since July 14, 2008, holding a degree in Financial Services[83]. - Mr. Liu Runtong, a non-executive director since February 2, 2010, has over 26 years of experience in financial media and services in Mainland China[84]. - Professor Zhang Benzheng has been an independent non-executive director since September 30, 2008, and has held various senior positions in listed companies, contributing significantly to their success[87]. - Mr. Li Jianxing has been an independent non-executive director since March 28, 2011, and has over 30 years of experience in accounting and corporate finance[89].

Financial Performance - For the year ended December 31, 2024, the group recorded revenue from continuing operations of approximately HKD 32,148,000, a decrease of 78.6% compared to HKD 149,684,000 in 2023[3] - The loss for the year ended December 31, 2024, was approximately HKD 99,019,000, compared to a loss of HKD 15,796,000 in 2023, representing a significant increase in losses[3] - The basic loss per share attributable to the owners of the company was HKD 1.27, compared to HKD 0.20 in 2023, indicating a substantial decline in profitability[4] - Total comprehensive loss for the year amounted to HKD 103,449,000, compared to HKD 19,190,000 in 2023, reflecting a worsening financial position[8] - The group reported a net loss from continuing operations of HKD 101,039,000 for the year, compared to HKD 12,124,000 in 2023, showing a deterioration in operational performance[9] - The total revenue for the group from continuing operations was HKD 32,148,000, down from HKD 149,684,000 in the previous year, indicating a decrease of about 78.6%[20] - The company recorded a net loss of approximately HKD 99,019,000 for the year ending December 31, 2024, with current liabilities exceeding current assets by about HKD 50,643,000[16] - The total loss attributable to the company’s owners for 2024 was 98,752,000 HKD, compared to 15,777,000 HKD in 2023[42] - The company recorded a loss of approximately HKD 99,000,000 for the year ending December 31, 2024, an increase of about HKD 83,200,000 compared to a loss of HKD 15,800,000 for the previous year[55] Asset and Equity Position - The group's total assets less current liabilities decreased to HKD 16,787,000 from HKD 120,866,000 in 2023, indicating a significant decline in net asset value[11] - The company's equity attributable to owners decreased to HKD 14,870,000 from HKD 118,052,000 in 2023, highlighting a substantial reduction in shareholder equity[11] - As of December 31, 2024, the group's current assets were approximately HKD 50,300,000, down from HKD 220,300,000 a year earlier, resulting in a current ratio of 0.5 compared to 1.8 in the previous year[59] - The total borrowings of the group amounted to HKD 28,000,000 as of December 31, 2024, down from HKD 30,000,000 in the previous year, with a capital debt ratio of 692.6% compared to 106.8% a year earlier[60] Revenue and Sales Performance - Revenue from the automotive trade segment decreased to HKD 30,803,000 in 2024 from HKD 148,322,000 in 2023, representing a decline of approximately 79.2%[20] - The automotive trading segment recorded revenue of approximately HKD 32,100,000, a decrease of about 78.6% from HKD 149,700,000 in the previous year, with a loss of approximately HKD 82,400,000 attributed to various impairment losses[62] - Major customer A contributed HKD 8,452 thousand to revenue, down from HKD 39,193 thousand in the previous year, indicating a decline of approximately 78%[32] - The company did not report any revenue from major customers exceeding 10% in the current year, indicating a shift in customer dependency[32] Impairment and Losses - The group experienced a significant impairment loss on prepayments for vehicle purchases amounting to HKD 75,805,000, which contributed to the overall losses[7] - The company recorded a significant impairment loss of HKD 75,805 thousand related to prepayments for vehicle purchases[27] Dividends and Shareholder Returns - The board of directors did not recommend the payment of a dividend for the year ended December 31, 2024, consistent with the previous year[5] - The company did not recommend any dividend payment for the year ending December 31, 2024, consistent with the previous year[53] Operational Changes and Future Outlook - The group has terminated its brokerage and securities margin financing services, which were previously a significant part of its operations[22] - The company is implementing various measures to enhance its sales network and effective cost control to improve profit margins and operating cash flow[17] - The group plans to leverage the global automotive industry's green transformation and technological advancements to introduce more new energy vehicles to improve the performance of the automotive trading segment[65] - The group aims to diversify its business by closely monitoring the new drug development market in China, which has seen stable growth due to regulatory reforms in the pharmaceutical industry[66] - The group will continue to seek opportunities to expand its revenue sources and enhance overall performance[67] Cash Flow and Liquidity - The company’s cash and cash equivalents in general accounts decreased to HKD 13,532,000 from HKD 19,554,000 in 2023, indicating a decline in liquidity[10] - The company’s cash inflow from operating activities for the period was 1,732,000 HKD, compared to an outflow of 3,450,000 HKD in 2023[40] - The company’s cash client receivables and Hong Kong settlement amounts are expected to be paid within one or two trading days post-transaction, indicating a short receivable cycle[47] Employee and Operational Costs - As of December 31, 2024, the group employed 38 staff members, down from 46 in 2023, with total employee costs approximately HKD 12,000,000 compared to HKD 13,700,000 in the previous year[72] Governance and Compliance - The audit committee, consisting of three independent non-executive directors, reviewed the consolidated financial statements for the year ending December 31, 2024, and found them compliant with applicable accounting standards[78] - The company has adopted a code of conduct for directors' securities transactions that meets or exceeds the standards set by GEM Listing Rules[74] - The chairman and CEO roles are held by the same individual, which deviates from the recommended separation of these roles[77] Miscellaneous - The company has no specific plans for any major investments as of the reporting period[71] - The company has no contingent liabilities as of December 31, 2024, consistent with the previous year[69] - The company has not disclosed any other significant acquisitions or disposals that require disclosure under GEM Listing Rules during the review year[71]

Performance Summary [Key Financial Indicators](index=3&type=section&id=%E6%91%98%E8%A6%81) The Group reported revenue of HK$20.5 million and a net loss of HK$12.98 million for the six months ended June 30, 2024 2024 Interim Results Summary | Indicator | Amount (HK$) | | :--- | :--- | | Revenue | Approx 20,500,000 | | Loss for the period | Approx 12,982,000 | | Loss attributable to owners of the Company | Approx 12,973,000 | | Basic loss per share | 0.17 HK cents | | Proposed dividend | Nil | Condensed Consolidated Financial Statements (Unaudited) [Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=4&type=section&id=%E7%B0%A1%E6%98%8E%E7%B6%9C%E5%90%88%E6%90%8D%E7%9B%8A%E5%8F%8A%E5%85%B6%E4%BB%96%E5%85%A8%E9%9D%A2%E6%94%B6%E5%85%A5%E5%A0%B1%E8%A1%A8) The Group's revenue fell 75.4% year-on-year to HK$20.5 million, while the net loss remained stable at approximately HK$12.98 million Key Income Statement Data (For the six months ended June 30) | Indicator (HK$'000) | 2024 (Unaudited) | 2023 (Unaudited) | YoY Change | | :--- | :--- | :--- | :--- | | Revenue | 20,500 | 83,380 | -75.4% | | Loss before income tax | (13,011) | (13,604) | -4.4% | | Loss for the period | (12,982) | (13,604) | -4.6% | | Loss attributable to owners of the Company | (12,973) | (13,598) | -4.6% | | Basic loss per share (HK cents) | (0.17) | (0.18) | N/A | [Condensed Consolidated Statement of Financial Position](index=6&type=section&id=%E7%B0%A1%E6%98%8E%E7%B6%9C%E5%90%88%E8%B2%A1%E5%8B%99%E7%8B%80%E6%B3%81%E5%A0%B1%E8%A1%A8) The Group's net assets decreased by 13.6% to HK$102.2 million as of June 30, 2024, due to declining assets and rising liabilities Key Balance Sheet Data | Indicator (HK$'000) | Jun 30, 2024 (Unaudited) | Dec 31, 2023 (Audited) | Period Change | | :--- | :--- | :--- | :--- | | Non-current assets | 22,608 | 23,930 | -5.5% | | Current assets | 210,526 | 220,349 | -4.5% | | **Total assets** | **233,134** | **244,279** | **-4.6%** | | Current liabilities | 128,517 | 123,413 | +4.1% | | Non-current liabilities | 2,460 | 2,647 | -7.1% | | **Total liabilities** | **130,977** | **126,060** | **+3.9%** | | **Net assets** | **102,157** | **118,219** | **-13.6%** | | Equity attributable to owners of the Company | 102,003 | 118,052 | -13.6% | [Condensed Consolidated Statement of Cash Flows](index=9&type=section&id=%E7%B0%A1%E6%98%8E%E7%B6%9C%E5%90%88%E7%8F%BE%E9%87%91%E6%B5%81%E9%87%8F%E8%A1%A8) The Group's operating activities generated a net cash inflow of HK$7.73 million, a significant turnaround from the prior year's outflow Key Cash Flow Data (For the six months ended June 30) | Indicator (HK$'000) | 2024 (Unaudited) | 2023 (Unaudited) | | :--- | :--- | :--- | | Net cash from operating activities | 7,728 | (5,087) | | Net cash used in investing activities | (23) | (79) | | Net cash used in financing activities | (1,713) | (1,206) | | Net increase/(decrease) in cash and cash equivalents | 5,992 | (6,372) | | Cash and cash equivalents at beginning of period | 19,554 | 32,986 | | **Cash and cash equivalents at end of period** | **25,546** | **26,614** | Management Discussion and Analysis [Business and Financial Review](index=25&type=section&id=%E6%A5%AD%E5%8B%99%E8%88%87%E8%B2%A1%E5%8B%99%E5%9B%9E%E9%A1%A7) Revenue sharply declined by 75.4% to HK$20.5 million due to the shrinking auto trade, though losses remained stable at HK$13 million - Revenue decreased by **HK$62.88 million (-75.4%)** year-on-year, primarily due to a reduction in the automobile trading and agency services business in China[41](index=41&type=chunk)[43](index=43&type=chunk) - The loss for the period was approximately **HK$13.0 million**, comparable to the prior year's HK$13.6 million, mainly due to decreased sales and increased financing costs[41](index=41&type=chunk) - Given the persistent losses in the securities-related business, the Group **disposed of Sinofortune BVI** and its subsidiaries on July 9, 2024, to reallocate resources[42](index=42&type=chunk) [Segment Performance](index=13&type=section&id=%E5%88%86%E9%83%A8%E8%A1%A8%E7%8F%BE) The auto trading segment's revenue collapse drove the overall decline, while the underperforming securities business was divested post-period Revenue by Business Segment (For the six months ended June 30) | Segment (HK$'000) | 2024 | 2023 | YoY Change | | :--- | :--- | :--- | :--- | | Automobile trading, agency services and procurement of accessories | 20,343 | 83,170 | -75.5% | | Trading of listed securities | 0 | 0 | - | | Brokerage and securities margin financing services | 157 | 210 | -25.2% | | **Total** | **20,500** | **83,380** | **-75.4%** | - The Group has invested in China's new drug development market, co-developing four new drugs, one of which has entered Phase II clinical trials[42](index=42&type=chunk) [Liquidity and Capital Resources](index=29&type=section&id=%E6%B5%81%E5%8B%95%E8%B3%87%E9%87%91%E5%8F%8A%E8%B2%A1%E5%8B%99%E8%B3%87%E6%BA%90) The Group's liquidity weakened with a current ratio drop to 1.6, while the gearing ratio rose significantly to 128.4% Key Financial Ratios and Resources | Indicator | Jun 30, 2024 | Dec 31, 2023 | | :--- | :--- | :--- | | Current ratio | 1.6 times | 1.8 times | | Gearing ratio | 128.4% | 106.8% | | Bank balances and cash | HK$30.69 million | HK$24.83 million | | Total other borrowings | HK$30.00 million | HK$30.00 million | [Prospects](index=27&type=section&id=%E5%89%8D%E6%99%AF) The Group will pivot its core auto business to new energy vehicles and explore new drug development investments for diversification - The strategic focus will be on **new energy vehicles and the Hainan duty-free car business** to counter shrinking demand for gasoline cars[46](index=46&type=chunk) - The Group still needs to resolve environmental certification issues for imported China VI standard vehicles, with six models certified and others pending[45](index=45&type=chunk) - The company will continue to monitor China's new drug development market to **diversify the Group's business**[46](index=46&type=chunk) Significant Notes and Other Disclosures [Events After the Reporting Period](index=25&type=section&id=%E5%A0%B1%E5%91%8A%E6%9C%9F%E5%BE%8C%E4%BA%8B%E9%A0%85) Post-period, the Group completed the disposal of its loss-making financial services subsidiary, Sinofortune BVI, on July 9, 2024 - On July 9, 2024, the company sold its wholly-owned subsidiary Sinofortune BVI, which engaged in regulated activities, for **HK$4 million in cash plus net asset value**[40](index=40&type=chunk) [Revenue Breakdown](index=12&type=section&id=%E6%94%B6%E7%9B%8A) The Group's revenue is almost entirely derived from its auto trading business in Mainland China, which saw a significant decline Revenue from External Customers by Location (For the six months ended June 30) | Location (HK$'000) | 2024 | 2023 | | :--- | :--- | :--- | | China (excluding Hong Kong) | 20,343 | 83,170 | | Hong Kong | 157 | 210 | | **Total** | **20,500** | **83,380** | [Directors, Shareholders, and Corporate Governance](index=31&type=section&id=%E8%91%A3%E4%BA%8B%E5%8F%8A%E8%A1%8C%E6%94%BF%E7%B8%BD%E8%A3%81%E6%96%BC%E6%9C%AC%E5%85%AC%E5%8F%B8%E8%82%A1%E4%BB%BD%E3%80%81%E7%9B%B8%E9%97%9C%E8%82%A1%E4%BB%BD%E5%8F%8A%E5%82%B5%E5%88%B8%E4%B9%8B%E6%AC%8A%E7%9B%8A%E5%8F%8A%E6%B7%A1%E5%80%89) The Chairman and CEO, a substantial shareholder with a 27.40% stake, holds dual roles, a deviation from governance codes - Chairman Mr. Wang Jiawei beneficially owns 2,123,395,935 shares, representing an approximate **27.40% stake** in the company[52](index=52&type=chunk) - The company deviates from the Corporate Governance Code by having **Mr. Wang Jiawei serve as both Chairman and CEO**[58](index=58&type=chunk) - The Audit Committee, comprising three independent non-executive directors, has reviewed the interim financial statements[60](index=60&type=chunk)[61](index=61&type=chunk)

Financial Performance - For the six months ended June 30, 2024, the group recorded revenue of approximately HKD 20,500,000, a decrease from HKD 83,380,000 for the same period in 2023, representing a decline of 75.4%[3] - The group incurred a loss of approximately HKD 12,982,000 for the six months ended June 30, 2024, compared to a loss of HKD 13,604,000 for the same period in 2023, indicating a slight improvement of 4.6%[4] - Basic loss per share for the period was HKD 0.17, compared to HKD 0.18 for the same period in 2023[5] - The group reported a total comprehensive loss of HKD 16,062,000 for the six months ended June 30, 2024, compared to HKD 18,753,000 for the same period in 2023, reflecting a decrease of 9.1%[5] - The group experienced a significant decrease in inventory changes, with a loss of HKD 19,549,000 for the period compared to a loss of HKD 82,372,000 in the previous year[4] - The automotive trading segment generated revenue of HKD 19,715,000, down 76.3% from HKD 82,780,000 in the previous year[15] - For the six months ended June 30, 2024, the group reported external sales of HKD 20,343,000, a decrease of 75.6% compared to HKD 83,170,000 for the same period in 2023[20] - The total segment loss for the automotive division was HKD (3,517,000) for the six months ended June 30, 2024, compared to HKD (5,804,000) for the same period in 2023, indicating an improvement[19] - The group incurred a total loss of HKD (12,982,000) for the six months ended June 30, 2024, slightly better than the loss of HKD (13,598,000) for the same period in 2023[24] Assets and Liabilities - Non-current assets as of June 30, 2024, amounted to HKD 22,608,000, a decrease from HKD 23,930,000 as of December 31, 2023[7] - Current assets totaled HKD 210,526,000 as of June 30, 2024, compared to HKD 220,349,000 as of December 31, 2023, showing a decrease of 4.3%[7] - Current liabilities increased to HKD 128,517,000 as of June 30, 2024, from HKD 123,413,000 as of December 31, 2023, representing an increase of 4.1%[8] - The net asset value decreased to HKD 102,157,000 as of June 30, 2024, from HKD 118,219,000 as of December 31, 2023, indicating a decline of 13.6%[8] - The company’s total equity as of June 30, 2024, was HKD 102,157,000, reflecting a decrease from HKD 118,656,000 at the end of the previous period[9] - The group’s total liabilities were approximately HKD 130.98 million, resulting in a debt-to-equity ratio of 128.4% as of June 30, 2024[47] - The company reported contract liabilities of HKD 77,212,000 as of June 30, 2024, compared to HKD 73,393,000 on December 31, 2023, reflecting a 5% increase[37] Cash Flow and Financing - The net cash generated from operating activities was HKD 7,728,000, compared to a net cash outflow of HKD 5,087,000 in the same period last year[10] - The total cash and cash equivalents at the end of the period were HKD 25,546,000, a decrease from HKD 26,614,000 at the end of June 2023[10] - The financing activities resulted in a net cash outflow of HKD 1,713,000, compared to HKD 1,206,000 in the same period last year[10] - The financing costs increased to HKD 1,734,000 for the six months ended June 30, 2024, compared to HKD 1,242,000 for the same period in 2023[22] Investments and Assets Management - The group purchased property, plant, and equipment amounting to approximately HKD 23,000,000 for the six months ended June 30, 2024, down from HKD 79,000,000 for the same period in 2023[27] - The cash flow from investing activities showed a net outflow of HKD 23,000, a slight improvement from HKD 79,000 in the previous year[10] - The group’s fair value of financial assets at fair value through profit or loss was HKD 148,000 as of June 30, 2024, down from HKD 16,821,000 as of December 31, 2023[28] Corporate Governance and Compliance - The board did not recommend the payment of dividends for the six months ended June 30, 2024[4] - The company has not declared any dividends for the six months ending June 30, 2024, consistent with the previous period[40] - The audit committee, consisting of three independent non-executive directors, reviewed the financial statements for the six months ending June 30, 2024, ensuring compliance with applicable accounting standards[59] - The company has adhered to all principles and code provisions of the GEM Listing Rules, except for the separation of roles between the chairman and CEO[57] - The company has established a code of conduct for directors' securities transactions, confirming compliance throughout the year[58] - The company will make its public announcements available on the Hong Kong Stock Exchange website for at least seven days from the date of publication[60] Business Development and Strategy - The group is developing four new drugs for lymphoma, sarcoma, colorectal cancer, and drug-resistant tuberculosis, with one drug currently in phase II clinical trials[42] - As of June 30, 2024, the group had six models of imported National VI standard vehicles certified by the Ministry of Ecology and Environment in China[45] - The group plans to expand its offerings of new energy vehicles in response to declining demand for gasoline vehicles[45] - The company completed the sale of its wholly-owned subsidiary Sinofortune BVI for HKD 4,000,000 on July 9, 2024[41] - The group has entered into a conditional sale agreement to sell Sinofortune BVI for HKD 4.00 million plus the net asset value of its subsidiaries, aiming to divest non-profitable businesses[43] Employment and Human Resources - As of June 30, 2024, the group employed 46 staff members, with total employee costs approximately HKD 6.52 million, a decrease from HKD 7.05 million as of June 30, 2023[50]

Financial Performance - The Group recorded a loss of approximately HK$15.8 million for the year ended December 31, 2023, a reduction of approximately HK$14.9 million compared to a loss of approximately HK$30.7 million for the previous year[21]. - Total revenue for the year ended December 31, 2023, was approximately HK$150.0 million, a decrease of approximately HK$30.8 million from the previous year[22]. - Revenue from the trading of motor vehicles segment was approximately HK$148.3 million for the year ended December 31, 2023, down from approximately HK$180.4 million in 2022, representing a decrease of approximately HK$32.1 million[23]. - The Group recorded a gain on the disposal of financial assets at fair value through profit or loss, contributing to the reduction in loss for the year[21]. - The Group's financial performance reflects the challenges faced in the automotive sector and the need for strategic adjustments moving forward[21]. - The Group recorded total revenue of approximately HK$150.0 million for the year ended 31 December 2023, a decrease of approximately HK$30.8 million or 17.0% compared to HK$180.8 million in the previous year[35]. - The Group reported a loss of approximately HK$15.8 million for the year, a decrease of approximately 48.5% from a loss of approximately HK$30.7 million in the previous year[36]. - The trading of motor vehicles segment incurred a loss of approximately HK$5.9 million, compared to a loss of approximately HK$1.7 million in the previous year[52]. - The brokerage and securities margin financing service segment recorded total revenue of approximately HK$0.4 million, with losses increasing to approximately HK$3.7 million from HK$0.8 million last year[53]. Revenue Sources - Agency and service fees income from accessories sourcing was approximately HK$1.4 million for the year ended December 31, 2023, compared to approximately HK$8,000 in the previous year[23]. - Nearly 99.8% of the Group's revenue as of December 31, 2023, was derived from the trading of motor vehicles, agency services, and accessories sourcing in the PRC[72]. - The Group's revenue from trading of motor vehicles where it acts as principal was approximately HK$148.3 million for 2023[23]. - Revenue from the trading of motor vehicles decreased by approximately 17.0% to HK$149.7 million for the year, down from HK$180.4 million in the previous year[52]. Market Conditions - The decrease in revenue was primarily due to the impact of the COVID-19 pandemic, the ongoing Sino-US trade war, and changes in PRC government policy affecting the automotive industry[23]. - The Group's performance in the trading of motor vehicles has been significantly affected by market competition and a shift towards new energy vehicles[23]. - The automotive industry is expected to face intensified competition and a shrinking demand for petrol vehicles in the coming years[23]. Assets and Liabilities - The Group's current assets as of 31 December 2023 were approximately HK$220.3 million, an increase from approximately HK$201.3 million as of 31 December 2022[43]. - The liquidity ratio (current assets over current liabilities) decreased to 1.8 times from 2.2 times in the previous year[43]. - Total other borrowings increased to HK$30 million as of 31 December 2023, up from HK$25 million in the previous year[44]. - The gearing ratio as of 31 December 2023 was 106.8%, compared to 69.5% in the previous year[44]. - Equity attributable to the owners of the Company decreased by approximately HK$19.2 million or 14.0% to approximately HK$118.1 million as of 31 December 2023[45]. - The Group's cash and bank balances as of December 31, 2023, were approximately HK$24.8 million, down from approximately HK$38.9 million in the previous year[48]. - The Group's total borrowings amounted to approximately HK$30 million as of December 31, 2023, compared to HK$25 million in 2022, with a capital debt ratio of 106.8% versus 69.5% last year[49]. Corporate Governance - The company is committed to high standards of corporate governance, with a detailed report provided in the annual report[172]. - The board of directors consists of two executive and five non-executive directors, including four independent non-executive directors, ensuring a majority of independent oversight[197]. - The company has adopted a code of conduct for Directors' securities transactions that meets or exceeds the standards set out in GEM Listing Rules[170]. - The company has maintained a sufficient prescribed public float of its issued shares under the GEM Listing Rules as of the report date[182]. - The Directors have no other financial, business, family, or other material relationships with one another, ensuring independence[200]. Future Plans - The Company plans to introduce more new energy vehicles and expand its duty-free car business in Hainan province to enhance market performance in the coming year[74]. - The Group aims to expand its revenue sources by developing other businesses and seeking new opportunities[81]. - The Group has no concrete plans for other material investments or acquisitions for the year under review[70]. Shareholder Information - The Directors do not recommend the payment of a dividend for the year ended December 31, 2023, consistent with the previous year[111]. - The Company's reserves available for distribution were HK$Nil as of December 31, 2023[114]. - As of December 31, 2023, the company has a distributable reserve of zero HKD, indicating no available funds for dividend distribution to shareholders[121]. - Wang Jiawei, the Chairman and CEO, holds 2,123,395,935 shares, representing approximately 27.40% of the company's total shareholding[131]. - Lai Yuk Mui and Liu Runtong hold 2,780,127 shares (0.04%) and 2,646,000 shares (0.03%) respectively[131]. Legal Matters - Sinofortune Education applied for compulsory execution against Minqin Quantum for failing to repay refundable earnest money of RMB20,000,000 by 31 December 2020[144]. - Minqin Quantum has failed to pay an approximate sum of RMB49,500,000 in penalties and other fees by 31 December 2023 as adjudicated under the Judgement[160]. - Sinofortune Education has the right to apply for compulsory execution for the sale of 100% equity interest of Minqin Quantum due to non-fulfillment of obligations by the Five Defendants[161]. Management and Staff - As of December 31, 2023, the Group's total staff costs amounted to approximately HK$13.7 million, a slight decrease from HK$13.8 million in 2022, with a workforce of 46 employees[71]. - The newly appointed independent non-executive director, Lee Kwun Kwan, joined on May 8, 2023[199].

Financial Performance - The group recorded revenue of approximately HKD 150,039,000 for the year ended December 31, 2023, a decrease of 17% compared to HKD 180,815,000 in 2022[5] - The loss attributable to the owners of the company for the year was approximately HKD 15,777,000, down from HKD 30,660,000 in the previous year, representing a 48% improvement[5] - Basic loss per share was HKD 0.20, compared to HKD 0.40 in 2022, indicating a reduction in losses per share[5] - The total comprehensive loss for the year amounted to HKD 19,190,000, a significant decrease from HKD 41,215,000 in 2022, reflecting a 53% reduction[9] - The group reported a net loss before tax of HKD 15,950,000, down from HKD 30,854,000 in the previous year, showing a 48% improvement[9] - The group experienced a foreign exchange loss of HKD 3,394,000 related to overseas operations, compared to a loss of HKD 10,543,000 in 2022, marking a 68% improvement[9] - The company reported a loss attributable to owners of the company of HKD 15,777,000 for the year, compared to a loss of HKD 30,660,000 in the previous year[110] - The group reported a loss of approximately HKD 15.8 million for the year, a reduction of about 48.5% from a loss of HKD 30.7 million the previous year, primarily due to decreased revenue and increased financing costs[166] Assets and Liabilities - The group’s cash and cash equivalents in general accounts decreased to HKD 19,554,000 from HKD 32,986,000, a decline of 41%[14] - The group’s trade receivables decreased significantly to HKD 340,000 from HKD 2,509,000, indicating a reduction of 86%[14] - The group’s total liabilities increased to HKD 220,349,000 from HKD 201,288,000, reflecting a rise of 9%[14] - The net current assets decreased to HKD 96,936,000 in 2023 from HKD 109,362,000 in 2022, representing a decline of approximately 11.6%[30] - Total assets minus current liabilities decreased to HKD 120,866,000 in 2023 from HKD 140,878,000 in 2022, a decrease of about 14.3%[30] - The company's equity attributable to owners decreased to HKD 118,052,000 in 2023 from HKD 137,218,000 in 2022, reflecting a decline of approximately 13.9%[30] - The total equity of the company decreased to HKD 118,219,000 in 2023 from HKD 137,409,000 in 2022, a decrease of about 13.9%[30] - The total accounts receivable from automotive trading amounted to HKD 1,892,000 as of December 31, 2023, down from HKD 3,490,000 in 2022, with confirmed impairment losses of HKD 1,672,000 compared to HKD 1,296,000 in the previous year[126] - The company confirmed an impairment loss on trade receivables of approximately HKD 400,000 for the review year, compared to HKD 1,300,000 in the previous year[135] - The group’s total liabilities were approximately HKD 126.1 million, resulting in a capital debt ratio of 106.8%, up from 69.5% the previous year[152] Revenue Segments - The segment revenue from automotive trading was HKD 148,322 thousand, down from HKD 180,391 thousand in the previous year, reflecting a decline of approximately 18%[64] - The automotive trading and agency services segment recorded revenue of approximately HKD 149.7 million, a decrease of about 17.0% from HKD 180.4 million the previous year, with a loss of approximately HKD 5.9 million[155] - The automotive trading segment's revenue from the group's principal activities was approximately HKD 148.3 million, down from HKD 180.4 million the previous year, indicating intensified market competition[167] Investments and Development - The company entered into a sale agreement to sell a 50% investment in a limited partnership for RMB 15,000,000 due to project delays caused by COVID-19 and increased R&D costs[132] - As of December 31, 2023, one new drug has entered the second phase of clinical trials, while other new drugs remain in the research stage[132] - The group recorded a fair value loss of approximately HKD 3.7 million from investments in new drug development projects, an improvement from a loss of HKD 6.2 million the previous year[171] - The group is closely monitoring the new drug development market in China to diversify its business, particularly in the pharmaceutical sector[177] Employee and Operational Costs - The total employee cost for the year ended December 31, 2023, was approximately HKD 13,700,000, a slight decrease from HKD 13,800,000 in 2022[193] - The group has a total of 46 employees as of December 31, 2023, down from 50 in the previous year[193] Corporate Governance - The group has established an audit committee to oversee financial reporting and compliance, consisting of three independent non-executive directors[196] - The group has adopted a code of conduct for directors regarding securities trading, which meets or exceeds the standards set by GEM listing rules[182] Market Position and Risks - The company is listed on the GEM of the Hong Kong Stock Exchange, indicating its status as a growth-oriented enterprise[33] - GEM provides a market for small and medium-sized companies to go public, which carries higher investment risks compared to other companies listed on the exchange[200] - Investors should understand the potential risks associated with investing in these companies and make decisions after careful consideration[200]

Financial Performance - For the nine months ended September 30, 2023, the group recorded revenue of approximately HKD 106,767,000[6]. - The loss attributable to the owners of the company for the nine months ended September 30, 2023, was approximately HKD 20,855,000, with a basic loss per share of HKD 0.27[7]. - Revenue from automobile sales for the nine months ended September 30, 2023, was HKD 105,640,000, a decrease from HKD 138,814,000 in the same period of 2022, representing a decline of approximately 23.9%[15]. - The company reported a total comprehensive loss of HKD 26,676,000 for the nine months ended September 30, 2023, compared to HKD 30,028,000 for the same period in 2022[10]. - The company reported a loss of approximately HKD 20.87 million for the nine months ended September 30, 2023, compared to a loss of HKD 16.21 million for the same period in 2022, representing an increase in loss of approximately 28.8%[67]. - The company recorded an unaudited loss of approximately HKD 20.87 million for the nine months ended September 30, 2023, compared to an unaudited loss of approximately HKD 16.21 million in the same period last year[71]. - The basic loss per share attributable to the owners of the company was approximately HKD 0.27, compared to HKD 0.21 in the same period last year[71]. - Revenue for the three months ended September 30, 2023, was HKD 23,387 thousand, a decrease of 70.0% compared to HKD 80,654 thousand in the same period of 2022[95]. - The net loss before tax for the three months ended September 30, 2023, was HKD 7,234 thousand, compared to a loss of HKD 2,730 thousand in the same period of 2022, representing a 165.5% increase in losses[95]. - The company reported a net loss of HKD 20,866 thousand for the nine months ended September 30, 2023, compared to a loss of HKD 16,211 thousand in the same period of 2022, indicating a 28.8% increase in losses[95]. Dividends and Share Information - The company does not recommend the payment of dividends for the nine months ended September 30, 2023[28]. - The company did not declare any dividends for the nine months ended September 30, 2023, consistent with the previous year[42]. - The number of issued ordinary shares as of September 30, 2023, remained at 7,748,958,000 shares[19]. Assets and Liabilities - As of September 30, 2023, the company's net current assets were approximately HKD 197.64 million, down from HKD 201.29 million as of December 31, 2022[49]. - The liquidity ratio as of September 30, 2023, was 1.7 times, compared to 2.2 times as of December 31, 2022, indicating a decrease in liquidity[49]. - As of September 30, 2023, the total borrowings of the group amounted to HKD 25 million, with a debt-to-equity ratio of 106.40%, up from 69.52% as of December 31, 2022[72]. - The company’s equity attributable to owners was approximately HKD 110.56 million as of September 30, 2023, a decrease of 19.43% from HKD 137.22 million as of December 31, 2022[51]. Business Operations and Strategy - The automotive segment accounted for approximately 99.74% of the group's revenue as of September 30, 2023[73]. - The company has seven models of imported National VI standard vehicles that have received ecological environment certification, with more expected to follow, which may improve business performance[52]. - The company aims to continue developing other businesses and seek opportunities to expand its revenue sources[53]. - The group plans to monitor changes in the business environment and government policies in China to formulate appropriate business strategies[73]. - The group is focused on diversifying its business in the new drug development market in China, which has seen stable growth due to regulatory reforms[74]. - The group is actively involved in the development of new drugs for lymphoma, cell tumors, colorectal cancer, and drug-resistant tuberculosis, with one drug currently in Phase II clinical trials[68]. - A memorandum of understanding was signed for the potential sale of Sinofortune Financial Holdings (BVI) Limited for HKD 4.30 million, plus the net asset value of approximately HKD 15.70 million[69]. Other Financial Information - The group experienced a foreign exchange loss of HKD 5,810,000 for the nine months ended September 30, 2023, compared to a loss of HKD 13,817,000 in the same period of 2022[10]. - The group recorded unrealized losses of approximately HKD 0.01 million from trading listed securities during the review period[45]. - Other income and losses for the three months ended September 30, 2023, showed a net loss of HKD 560 thousand, a significant decline from a gain of HKD 2,665 thousand in the same period of 2022[97]. - Employee benefits expenses for the three months ended September 30, 2023, were HKD 3,364 thousand, slightly down from HKD 3,418 thousand in the same period of 2022[95]. - Financing costs increased to HKD 630 thousand for the three months ended September 30, 2023, compared to HKD 245 thousand in the same period of 2022, marking a 157.1% rise[95]. - The company recorded a significant decrease in finished goods inventory changes, with a loss of HKD 22,592 thousand for the three months ended September 30, 2023, compared to a loss of HKD 78,861 thousand in the same period of 2022[95]. - The company reported a decrease in bank deposit interest income to HKD 29 thousand for the three months ended September 30, 2023, from HKD 23 thousand in the same period of 2022[97]. - The company is listed on the GEM of the Hong Kong Stock Exchange, indicating its commitment to maintaining transparency and regulatory compliance[100].

華 億 金 控 集 團 有 限 公 司 SINOFORTUNE FINANCIAL HOLDINGS LIMITED （於開曼群島註冊成立之有限公司） 08123 （股份代號： ） 截至二零二三年九月三十日止九個月之 第三季度業績公佈 GEM 香港聯合交易所有限公司（「聯交所」） 的特色 GEM 的定位，乃為中小型公司提供一個上市的市場，此等公司相比起其他在聯交所上市的公 司帶有較高投資風險。有意投資的人士應了解投資於該等公司的潛在風險，並應經過審慎周 詳的考慮後方作出投資決定。 GEM GEM 由於 上市公司普遍為中小型公司，在 買賣的證券可能會較於主板買賣之證券承受 GEM 較大的市場波動風險，同時無法保證在 買賣的證券會有高流通量的市場。 香港交易及結算所有限公司及聯交所對本公佈之內容概不負責、對其準確性或完整性亦不發 表任何聲明，並明確表示概不就因本公佈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。 GEM GEM 本公佈的資料乃遵照聯交所 證券上市規則（「 上市規則」）而刊載，旨在提供有關華億 金控集團有限公司（「本公司」，連同其附屬公司統稱「本集團」）的資料；本公司之董事 ...