Financial Performance - The company reported a loss of approximately HKD 72,826,000 for the six months ended June 30, 2019[5]. - The loss attributable to the owners of the company was about HKD 69,424,000 for the same period[6]. - Revenue for the six months ended June 30, 2019, was approximately HKD 129,960,000, a decrease from HKD 159,153,000 in the same period of 2018[10]. - Basic and diluted loss per share for the period was HKD 1.03[7]. - Total comprehensive loss for the period was HKD 72,101,000, compared to HKD 25,045,000 in the same period of 2018[11]. - The net loss before tax for the period was HKD 20,151,000, compared to a loss of HKD 1,874,000 in the previous year, indicating a significant increase in losses[60]. - Basic and diluted loss per share for the six months ended June 30, 2019, was HKD (0.0103), compared to HKD (0.0031) for the same period in 2018, reflecting a worsening financial position[61]. - The group reported an unaudited loss of approximately HKD 72.83 million for the six months ended June 30, 2019, compared to a loss of HKD 20.15 million in the same period of 2018, with a basic loss per share of approximately HKD 1.03 compared to HKD 0.31 in the prior year[89]. Revenue and Segments - Revenue for the six months ended June 30, 2019, was HKD 129,960,000, compared to HKD 159,153,000 for the same period in 2018, reflecting a decrease of approximately 18.3%[43]. - The segment performance for financing services reported a loss of HKD 62,987,000 for the six months ended June 30, 2019, compared to a loss of HKD 72,826,000 for the same period in 2018[47]. - The company generated HKD 1,148,000 from sales of electronic products, electronic student cards, and campus safety products for the six months ended June 30, 2019, compared to HKD 97,000 in the same period of 2018[43]. - Revenue from the automobile sales and agency services segment was approximately HKD 127.42 million for the six months ended June 30, 2019, down from approximately HKD 156.18 million in the same period last year, a decline of about 18.4%[86]. - The automotive sales and agency services segment accounted for approximately 98% of the group's revenue, highlighting the reliance on a limited number of customers[91]. Assets and Liabilities - The company’s total assets amounted to HKD 383,373,000 as of June 30, 2019, down from HKD 412,131,000 as of December 31, 2018[14]. - Current liabilities were HKD 70,445,000 as of June 30, 2019, compared to HKD 30,847,000 at the end of 2018[14]. - The net current assets decreased from HKD 350,553,000 to HKD 264,713,000, representing a decline of approximately 24.5%[16]. - Total assets minus current liabilities decreased from HKD 381,284,000 to HKD 312,928,000, a decrease of about 17.9%[16]. - The total equity attributable to owners decreased from HKD 364,618,000 to HKD 295,767,000, reflecting a decline of approximately 19%[16]. - The group’s equity attributable to owners was approximately HKD 295.77 million, a decrease of 18.9% or HKD 68.85 million from December 31, 2018[90]. Cash Flow and Investments - The net cash used in operating activities was HKD (20,321,000), compared to HKD (27,877,000) in the previous year, indicating an improvement of about 27%[31]. - The net cash used in investing activities was HKD (28,451,000), a significant decrease from HKD 10,202,000 in the previous year[31]. - The total cash and cash equivalents at the end of the period decreased to HKD 101,330,000 from HKD 104,996,000, a decline of about 3.2%[31]. - The accumulated losses increased from HKD (1,403,119,000) to HKD (1,472,637,000), an increase of approximately 4.9%[16]. - The company’s investment in securities has a total market value of approximately HKD 18,520,000 as of June 30, 2019, compared to HKD 17,959,000 at the end of 2018, showing a slight increase[66]. Corporate Governance - The company has adhered to all principles and provisions of the GEM Listing Rules Appendix 15 "Corporate Governance Code" during the review period, with some deviations noted[117]. - The roles of the Chairman and CEO are not separated, as Mr. Wang Jiawei serves both positions, ensuring shareholder interests are adequately protected[118]. - The company has adopted a code of conduct for directors' securities trading, confirming compliance with the standards set forth in GEM Listing Rules[119]. - An audit committee has been established to review and supervise the group's financial reporting and internal control procedures, in compliance with GEM Listing Rules[120]. - The audit committee consists of three independent non-executive directors, ensuring proper oversight of financial statements[121].

Financial Performance - For the three months ended March 31, 2019, the group recorded revenue of approximately HKD 10,023,000[4] - The loss for the same period was approximately HKD 10,723,000[5] - The loss attributable to the owners of the company was approximately HKD 10,555,000[6] - Basic and diluted loss per share was HKD 0.16[7] - Other income and gains for the period were HKD 509,000, down from HKD 8,639,000 in the same period last year[10] - The group experienced a significant decrease in revenue compared to HKD 124,098,000 for the same period in 2018, representing a decline of approximately 91.9%[10] - The group reported a total comprehensive loss of HKD 10,019,000 for the period[12] - The company recorded revenue of approximately HKD 10.02 million for the first quarter of 2019, a decrease of about HKD 114.08 million compared to HKD 124.10 million in the same period of 2018[39][40] - Revenue from the automotive sales and agency services segment was approximately HKD 8.72 million for the first quarter of 2019, down from approximately HKD 122.60 million in the same period of 2018, representing a decline of about 113.88 million[39][40] - The company reported a basic and diluted loss per share of HKD 0.0016 for the first quarter of 2019, compared to a loss of HKD 0.0001 in the same period of 2018[33] - The company recorded other income of HKD 9,885 thousand for the first quarter of 2019, compared to HKD 123,971 thousand in the same period of 2018[29] - The company incurred a tax loss during the period, resulting in no provision for Hong Kong and overseas profits tax[31] - The group reported an unaudited loss of approximately HKD 10.72 million for the first quarter of 2019, compared to an unaudited loss of approximately HKD 0.82 million in the same period last year[41] - The basic loss per share attributable to the owners of the company was approximately HKD 0.16 cents, compared to a loss of approximately HKD 0.01 cents in the same period last year[41] Dividends - The board of directors did not recommend the payment of a dividend for the three months ended March 31, 2019[8] - The company did not recommend any dividend for the period ending March 31, 2019, consistent with no dividends declared in 2018[37] Assets and Liabilities - As of March 31, 2019, the group's net current assets were approximately HKD 356.58 million, with a current ratio of 13.6 times[42] - The group's cash and bank balances were approximately HKD 116.90 million, of which approximately HKD 7.74 million was held in trust accounts for clients[42] - The group's debt amounted to approximately HKD 4.15 million, secured by land and buildings, with a debt-to-equity ratio of 10.67%[42] Shareholder Information - As of March 31, 2019, the largest shareholder, Wang Jiawei, held approximately 27.13% of the company's shares[45] - The company’s total issued shares as of March 31, 2019, were 6,718,821,034, an increase from 6,498,958,120 shares in the same period of 2018[33] Business Outlook - The company attributed the revenue decline primarily to the impact of the US-China trade war and the Spring Festival on its automotive sales operations[40] - The group remains optimistic about the outlook for its imported automobile business, particularly with the potential reduction of the VAT rate from 16% to 13% in China[44] - The group plans to continue developing other businesses and seek opportunities to expand its revenue sources[44] Corporate Governance - The audit committee, consisting of three independent non-executive directors, has reviewed the financial statements for the three months ending March 31, 2019, and found them to comply with applicable accounting standards[64] - The company has adopted a code of conduct for directors' securities trading, which meets or exceeds the standards set by GEM Listing Rules[61] - The company has complied with all principles and code provisions of the GEM Listing Rules Appendix 15, except for certain deviations[58] - The roles of the chairman and the CEO are not held by the same individual, ensuring clear delineation of responsibilities[59] - The company has established an audit committee to review and supervise the financial reporting and internal control procedures[62] - As of March 31, 2019, the company has not identified any business or interests of directors that may compete with the group’s business[56] Stock Options - The new stock option plan is effective for a period of ten years starting from June 21, 2012, with no new options to be granted unless prior approval from shareholders is obtained[55] - As of March 31, 2019, there are 82,840,095 unexercised stock options remaining from the previous stock option plan[55] - The company has a stock option plan allowing individuals contributing to the group’s interests to acquire shares[53] - The company has not purchased, sold, or redeemed any of its listed securities during the reporting period[57]

華 億 金 控 集 團 有 限 公 司 SINOFORTUNE FINANCIAL HOLDINGS LIMITED (Incorporated in the Cayman Islands with limited liability)(於 関曼群島註冊成立之有限公司) (Stock code 股份代號: 08123) ANNUAL REPORT 2018 ** CHARACTERISTICS OF GEM OF THE STOCK EXCHANGE OF HONG KONG LIMITED (THE "STOCK EXCHANGE") GEM has been positioned as a market designed to accommodate small and mid-sized companies to which a higher investment risk may be attached than other companies listed on the Stock Exchange. Prospective investors should be aware of the pote ...