Group 1 - China Hengyouyuan Group repurchased 1 million shares at an average price of 0.04 HKD per share, totaling approximately 40,000 HKD, with a cumulative repurchase of 6.296 million shares this year, representing 0.13% of the total share capital [1] - The company's stock price fell by 9.3% to 0.039 HKD per share as of the market close on the same day [1] - Stock buybacks are generally viewed as a positive signal from the company, indicating management's confidence in future development and potentially increasing earnings per share by reducing the number of shares in circulation [1] Group 2 - China Hengyouyuan Group is a Hong Kong-listed company primarily engaged in the energy sector, providing various energy solutions [2] - The company focuses on energy development, utilization, and related technology research and development, aiming to adapt to market demands and environmental requirements [2] - Through continuous investment in research and development and business expansion, the company seeks to gain a competitive advantage in the energy market [2]

Summary of Key Points Core Viewpoint - On July 7, 34 Hong Kong-listed companies conducted share buybacks, totaling 30.99 million shares and an aggregate amount of HKD 921 million [1][2]. Group 1: Buyback Details - Tencent Holdings repurchased 1.002 million shares for HKD 501 million, with a highest price of HKD 502.000 and a lowest price of HKD 494.400, bringing its total buyback amount for the year to HKD 38.542 billion [1][2]. - AIA Group repurchased 5.5 million shares for HKD 377 million, with a highest price of HKD 69.150 and a lowest price of HKD 68.050, totaling HKD 16.352 billion in buybacks for the year [1][2]. - Founder Holdings repurchased 10.386 million shares for HKD 1.174 million, with a highest price of HKD 1.150 and a lowest price of HKD 1.110, accumulating HKD 3.541 million in buybacks for the year [1][2]. Group 2: Buyback Rankings - The highest buyback amount on July 7 was from Tencent Holdings at HKD 501 million, followed by AIA Group at HKD 377 million [1][2]. - In terms of share quantity, Founder Holdings had the most significant buyback with 10.386 million shares, followed by AIA Group with 5.5 million shares and China Electric Power Technology with 2.26 million shares [1][2].

Summary of Key Points Core Viewpoint - On June 18, 35 Hong Kong-listed companies conducted share buybacks, totaling 26.35 million shares and an aggregate amount of HKD 938 million [1][2]. Group 1: Buyback Details - Tencent Holdings repurchased 990,000 shares for HKD 501 million, with a highest price of HKD 510.00 and a lowest price of HKD 503.50, bringing its total buyback amount for the year to HKD 32.54 billion [1][2]. - AIA Group repurchased 5.21 million shares for HKD 354 million, with a highest price of HKD 68.65 and a lowest price of HKD 67.70, totaling HKD 13.64 billion in buybacks for the year [1][2]. - Techtronic Industries repurchased 250,000 shares for HKD 21.77 million, with a highest price of HKD 87.60 and a lowest price of HKD 86.60, totaling HKD 99.37 million in buybacks for the year [1][2]. Group 2: Buyback Rankings - The highest buyback amount on June 18 was from Tencent Holdings at HKD 501 million, followed by AIA Group at HKD 354 million [1][2]. - In terms of share quantity, the most shares repurchased on June 18 were by Pacific Basin Shipping at 6 million shares, followed by AIA Group and COSCO Shipping at 5.21 million and 5 million shares, respectively [1][2].

| 代码 | 简称 | 回购股数 | 回购金额（万 | 回购最高价 | 回购最低价 | 年内累计回购金额 | | --- | --- | --- | --- | --- | --- | --- | | | | （万股） | 港元） | （港元） | （港元） | （万港元） | | 00700 | 腾讯控股 | 97.50 | 50084.93 | 516.500 | 511.500 | 2853315.68 | | 01299 | 友邦保险 | 300.00 | 20382.49 | 69.000 | 67.150 | 1206539.55 | | 00670 | 中国东方航 空股份 | 220.00 | 648.42 | 2.970 | 2.920 | 49816.45 | | 01519 | 极兔速递-W | 92.00 | 626.52 | 6.870 | 6.730 | 25362.34 | | 09987 | 百胜中国 | 1.39 | 467.34 | 339.400 | 335.200 | 70033.89 | | 01907 | 中国旭阳集 团 | 165.00 | 412.92 | 2.5 ...

Core Insights - On June 3, 40 Hong Kong-listed companies conducted share buybacks, totaling 27.7357 million shares and an aggregate amount of HKD 1.079 billion [1][2] - Tencent Holdings led the buybacks with 994,000 shares repurchased for HKD 500 million, bringing its total buyback amount for the year to HKD 27.031 billion [1][2] - AIA Group followed with a buyback of 6 million shares for HKD 403 million, and Kuaishou-W repurchased 2 million shares for HKD 102 million [1][2] Buyback Details - Tencent Holdings: - Shares repurchased: 994,000 - Buyback amount: HKD 500 million - Highest price: HKD 505.000 - Lowest price: HKD 501.000 - Year-to-date total buyback: HKD 27.031 billion [2] - AIA Group: - Shares repurchased: 6 million - Buyback amount: HKD 403 million - Highest price: HKD 67.650 - Lowest price: HKD 66.550 - Year-to-date total buyback: HKD 11.412 billion [2] - Kuaishou-W: - Shares repurchased: 2 million - Buyback amount: HKD 102 million - Highest price: HKD 51.350 - Lowest price: HKD 50.950 - Year-to-date total buyback: HKD 1.911 billion [2] Other Notable Buybacks - Other companies with significant buybacks include: - Hengan International: 600,000 shares for HKD 13.13 million - China Eastern Airlines: 200,000 shares for HKD 592,760 [2] - The total buyback activity reflects a trend among companies to return capital to shareholders amid market conditions [1][2]

Financial Performance - The company recorded revenue of approximately HKD 69,629,000 for the fiscal year ending December 31, 2024, an increase of about HKD 1,769,000 compared to the same period in 2023[12]. - The profit for the year was approximately HKD 11,293,000, showing a significant increase compared to the previous year[12]. - The increase in revenue and profit was primarily due to higher gross margins, reduced administrative expenses, and recoveries of contract assets and receivables[12]. - For the fiscal year ending December 31, 2024, the company reported total revenue of approximately HKD 69,629,000, an increase of about 2.61% compared to HKD 67,860,000 for the previous year[27]. - The net profit for the fiscal year 2024 was approximately HKD 11,293,000, significantly up from HKD 4,722,000 in 2023, driven by increased gross profit and reduced administrative expenses[26]. - The gross profit margin improved to 18.26% in 2024, compared to 13.64% in 2023, reflecting a year-on-year increase of 33.87%[28]. - Operating maintenance revenue accounted for 53.08% of total revenue in 2024, rising from 40.02% in 2023, indicating a shift towards more stable income sources[22]. - Administrative expenses were reduced by 25% to approximately HKD 39,566,000 in 2024, down from HKD 52,758,000 in 2023, due to ongoing cost control measures[30]. - The group reported a revaluation gain of approximately HKD 2,507,000 on land and buildings as of December 31, 2024, which has been directly credited to the asset revaluation reserve[89]. - The fair value of investment properties decreased by HKD 548,000 during the year, with most properties being developed into geothermal energy demonstration leasing projects[91]. Strategic Focus and Development - The company is focusing on the development of geothermal heat pump systems, which are expected to reduce energy consumption by 50% compared to traditional methods while maintaining the same heating area[13]. - The company aims to become a supplier of integrated system products for efficient and clean heating using geothermal energy, replacing fossil fuels[14]. - The company has established two market development strategies: project agents and regional development partners, providing proprietary complete products and technical services[14]. - The company emphasizes the importance of innovation-driven development strategies and internal management reforms to adapt to market changes[14]. - The company is committed to achieving zero emissions and no combustion in heating areas through its new energy solutions[15]. - The company continues to focus on promoting shallow geothermal energy as a clean heating alternative, integrating various service capabilities across its business segments[35]. - The market for geothermal heat pumps is expected to expand significantly, with the company committed to technological innovation and green development as key growth drivers[20]. - The company aims to achieve operational carbon neutrality by 2030, positioning itself as a benchmark enterprise in green heating solutions[21]. Financial Management and Risk - The group had cash and cash equivalents of approximately HKD 52,586,000 as of December 31, 2024, down from HKD 69,553,000 in 2023[41]. - The debt ratio as of December 31, 2024, was approximately 49.0%, a decrease from 55.7% in 2023[46]. - The group employed approximately 193 employees as of December 31, 2024, down from 218 in 2023[47]. - The group did not recommend the payment of a final dividend for the year ended December 31, 2024, consistent with 2023[49]. - The company faced liquidity challenges due to a declining business scale, with revenue decreasing while costs remain high, leading to severe liquidity shortages[199]. - The company plans to optimize operations through various measures, including adjusting asset structures and enhancing capital management to improve liquidity[199]. - A specialized collection team was established to address overdue payments, utilizing both conventional collection methods and legal actions for serious delinquencies[200]. - Strict measures were implemented for cash collection on new projects, including suspending non-critical construction activities if payments were delayed beyond agreed timelines[200]. - The company is actively optimizing project cash flow by enhancing operational service levels and targeting high-return projects with superior cash flow conditions[200]. - The management revised internal control procedures to strengthen financial reporting processes based on daily operational needs[200]. Governance and Compliance - The board of directors includes experienced professionals with backgrounds in finance, engineering, and strategic management, enhancing the company's strategic planning capabilities[64][65][66]. - The company has established an audit committee to oversee financial reporting, risk management, and internal controls[152]. - The company complied with the GEM Listing Rules Appendix C1 corporate governance code throughout the reporting period[160]. - The company faced a temporary non-compliance with the minimum number of independent non-executive directors required by GEM Listing Rules but rectified this after the annual general meeting on June 7, 2024[170]. - The company has mechanisms in place to ensure independent opinions are incorporated into board decisions, including annual reviews of the independent non-executive director's contributions[174]. - The company has confirmed the independence of its independent non-executive directors in accordance with GEM Listing Rules[177]. - The company has a diversity policy for its board, with a total of 8 directors, including 1 female (12.5%) and 7 males (87.5%); the total number of employees is 193, with 37 females (approximately 19%) and 156 males (approximately 81%)[182]. Shareholder Information - As of December 31, 2024, the total number of issued voting shares of the company is 4,505,573,163[1]. - Major shareholder China Energy Conservation (Hong Kong) Investment Co., Ltd. holds 1,190,000,000 shares, representing 26.41% of the voting shares[137]. - The 2024 Share Option Plan and 2024 Share Award Plan were approved on June 7, 2024, and received conditional listing approval on September 6, 2024[1]. - The purpose of the 2024 plans includes recognizing contributions of selected participants and encouraging retention to promote the group's ongoing development[1]. - The total number of shares that can be issued under the 2024 Share Option Plan and the 2024 Share Award Plan is 452,692,516 shares, representing approximately 10.05% of the issued shares as of December 31, 2024[130]. - The total fees paid or payable to the external auditor for statutory audit and non-audit services for the year ended December 31, 2024, amounted to HKD 1,644,000[188]. Employee and Community Engagement - The company emphasizes employee welfare, ensuring reasonable compensation and a safe working environment[106]. - No workplace accidents leading to strikes or fatalities were reported during the year[106]. - The company made charitable donations amounting to RMB 200,000 (approximately HKD 219,260) during the year[99]. - The company has provided training to all directors to enhance their knowledge and skills regarding their collective responsibilities and the group's business[177].

Financial Performance - For the fiscal year ending December 31, 2024, the total revenue was HKD 69,629,000, representing an increase of 2.6% from HKD 67,860,000 in the previous year[4]. - Gross profit for the year was HKD 12,717,000, up 37.5% from HKD 9,259,000 in 2023[4]. - The net profit for the year was HKD 11,293,000, a significant increase of 138.5% compared to HKD 4,722,000 in the prior year[4]. - Basic and diluted earnings per share increased to HKD 0.24 from HKD 0.21, reflecting a growth of 14.3%[4]. - Other income and gains rose to HKD 26,626,000, compared to HKD 16,816,000 in the previous year, marking an increase of 58.5%[4]. - The total comprehensive income for the year was HKD 20,124,000, compared to a loss of HKD 6,102,000 in 2023[5]. - The company reported a pre-tax profit of HKD 10,941,000 for the year ended December 31, 2024, compared to HKD 7,091,000 in 2023, marking an increase of approximately 54%[21]. - Net profit for the year ended December 31, 2024, was approximately HKD 11,293,000, a significant increase from HKD 4,722,000 in the previous year, driven by higher gross profit and reduced administrative expenses[41]. Assets and Liabilities - Non-current assets decreased to HKD 398,981,000 from HKD 426,412,000, a decline of 6.4%[6]. - Current assets decreased significantly from HKD 778,487,000 to HKD 457,820,000, a drop of 41.2%[6]. - Total liabilities decreased from HKD 926,309,000 to HKD 569,701,000, a reduction of 38.6%[7]. - The total assets of the company as of December 31, 2024, amounted to HKD 856,801,000, compared to HKD 1,204,899,000 in 2023, reflecting a decrease of approximately 29%[21]. - The total liabilities for the year ended December 31, 2024, were HKD 572,701,000, down from HKD 926,309,000 in 2023, a reduction of about 38%[21]. - The company's net current liabilities improved to approximately HKD 10,168,000 from HKD 29,308,000 in the previous year[54]. - The debt ratio decreased to approximately 49.0% as of December 31, 2024, compared to 55.7% in the previous year[58]. Segment Performance - The group operates in four main segments: shallow geothermal energy systems, air energy/shallow geothermal heat pump products, property investment for potential rental income, and securities investment for strategic purposes[10][18]. - Revenue from contracts with customers was HKD 63,627,000 for 2024, up from HKD 62,212,000 in 2023, indicating a year-over-year increase of about 2.3%[25]. - The segment profit for the air energy division was HKD 3,283,000, while the geothermal energy segment reported a loss of HKD 3,412,000, resulting in a total segment performance of HKD 7,572,000[20]. - The air energy segment generated external sales of HKD 62,918,000, while the geothermal energy segment contributed HKD 709,000 to external sales[20]. Administrative and Operational Changes - Administrative expenses decreased by 25% to approximately HKD 39,566,000 from HKD 52,758,000 in the previous year, attributed to cost control measures[44]. - The company is undergoing a management transformation and organizational restructuring to enhance operational efficiency and budget execution capabilities[80]. - The group’s performance evaluation is based on adjusted profit before tax, excluding certain income and costs, to assess resource allocation and performance across its segments[16]. Shareholder and Governance Matters - The company did not declare any final dividends for the years ended December 31, 2024, and 2023[33]. - The board of directors consists of both executive and independent non-executive members, ensuring a diverse governance structure[91]. - The 2020 Share Incentive Plan was approved on January 15, 2020, allowing for a total of 98,000,000 shares to be granted, representing approximately 2.18% of the company's issued shares as of the announcement date[60]. - The 2024 Share Option Plan and 2024 Share Incentive Plan were approved on June 7, 2024, allowing for a total of 452,692,516 shares to be issued, which is up to 10% of the issued shares as of the adoption date[65]. Compliance and Regulatory Matters - The group has adopted new and revised Hong Kong Financial Reporting Standards effective from January 1, 2024, which include significant changes in lease liabilities and classification of liabilities[11][12]. - The group has not early adopted any new or revised Hong Kong Financial Reporting Standards that have been issued but are not yet effective, indicating a cautious approach to regulatory changes[12][15]. - The company has complied with the GEM Listing Rules, except for a temporary non-compliance regarding the minimum number of independent non-executive directors[82]. Cash Flow and Financing - The company had cash and cash equivalents of approximately HKD 52,586,000 as of December 31, 2024, down from HKD 69,553,000 in the previous year[54]. - Financing costs decreased to HKD 3,544,000 in 2024 from HKD 4,175,000 in 2023, primarily due to lower interest on borrowings[28]. - The company holds repurchased shares as treasury shares, allowing for flexibility in raising additional funds or for other permitted uses under GEM listing rules[89]. Research and Development - Research and development costs were reduced to HKD 822,000 in 2024 from HKD 1,931,000 in 2023, indicating a strategic shift in investment[29]. - The company is focusing on the commercialization of innovative shallow geothermal energy technologies for winter heating, aiming for a transition to a zero-emission heating solution[79].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不就本公告全部或任何部 份內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 有關二零二三年年報之補充公告 茲提述中國恒有源發展集團有限公司（「本公司」，連同其附屬公司統稱為「本集團」） 截至二零二三年十二月三十一日止年度之年報（「二零二三年年報」）。除文義另有 所指外，本公告所用詞彙與二零二三年年報所界定者具有相同涵義。 除二零二三年報中提供的資料外，本公司董事局（「董事局」）謹此提供有關i) 綜合 財務報表附註18中所披露之重大投資（「重大投資」）及ii) 董事局報告及綜合財務 報表附註33中所披露之股份獎勵計劃（「股份獎勵計劃」）的補充資料。 (i) 重大投資 本公司自2017年度起透過其全資附屬公司恒有源投資持有北京人壽保險股份 有限公司142,990,000股股份，佔其股權比例約為4.99965%，持有對價為人民幣 142,990,000元。北京人壽保險股份有限公司主要從事普通型保險（包括人壽 保險及年金保險）、健康保險、意外傷害保險、分紅型保險、萬能型保險、上述 業務的再 ...

Financial Performance - For the six months ended June 30, 2024, the revenue was approximately HKD 31,472,000, a decrease of about HKD 2,905,000 compared to the same period last year[2][4] - The group recorded a net profit of approximately HKD 159,000 for the period, a significant turnaround from a loss of HKD 16,022,000 in the same period last year[2][6] - For the six months ended June 30, 2024, the company's revenue decreased to HKD 31,472,000 from HKD 34,377,000 in the same period last year, representing a decline of approximately 8.7%[20] - Gross profit for the same period was HKD 8,699,000, slightly down from HKD 8,861,000, indicating a focus on cost control despite revenue decline[20] - The company reported a pre-tax loss of HKD 2,803,000, significantly improved from a loss of HKD 16,024,000 in the previous year[21] - The net profit for the period was HKD 159,000, a recovery from a loss of HKD 16,022,000 in the same period last year[22] - The company reported a pre-tax loss of HKD 2,962,000 for the six months ended June 30, 2024, compared to a loss of HKD 2,000 in the same period of 2023[51] - The company reported a profit attributable to equity holders of HKD 176,000 for the six months ended June 30, 2024, compared to a loss of HKD 15,562,000 in the same period of 2023[53] Revenue Breakdown - Revenue from shallow geothermal energy was HKD 30,617,000, while income from air energy/shallow geothermal heat pumps was HKD 635,000, showing a decline in the latter[4] - The revenue from construction services was HKD 30,617,000, while sales of industrial products contributed HKD 635,000, indicating a strong reliance on construction services for revenue generation[43] - The revenue from the shallow geothermal energy segment was HKD 30,617,000, with a profit of HKD 3,130,000 for the six months ended June 30, 2024[38] - The air energy/shallow geothermal heat pump segment generated revenue of HKD 28,977,000, with a profit of HKD 5,899,000 during the same period[38] - The group’s total revenue for the six months ended June 30, 2024, was HKD 34,377,000, compared to HKD 40,949,000 for the same period in 2023, indicating a decline[38] Expenses and Cost Management - Administrative expenses decreased by approximately HKD 6,932,000 or 29.9% compared to the same period last year, primarily due to reduced salaries and related costs[5] - The cost of goods sold for the six months ended June 30, 2024, was HKD 9,782,000, a decrease from HKD 10,335,000 in the previous year, reflecting improved cost management[49] - The company has implemented internal control management adjustments, leading to a significant decrease in expenses compared to the previous year[18] - The company’s financing costs totaled HKD 1,817,000 for the first half of 2024, down from HKD 2,052,000 in the same period of 2023, indicating a reduction in borrowing costs[48] Assets and Liabilities - As of June 30, 2024, the group had cash and cash equivalents of approximately HKD 53,110,000, down from HKD 69,553,000 as of December 31, 2023[7] - The group had a total contract value of approximately HKD 50,000,000 as of June 30, 2024, down from HKD 66,000,000 a year earlier[6] - As of June 30, 2024, total non-current assets decreased to HKD 414,799 thousand from HKD 426,412 thousand as of December 31, 2023, representing a decline of approximately 2.9%[23] - Current assets totaled HKD 746,643 thousand, down from HKD 778,487 thousand, indicating a decrease of about 4.1%[23] - Total current liabilities decreased to HKD 767,308 thousand from HKD 807,795 thousand, reflecting a reduction of approximately 5%[24] - Total liabilities decreased to HKD 884,957 thousand from HKD 926,309 thousand, a reduction of approximately 4.5%[24] - The company's equity attributable to owners was HKD 276,485 thousand, down from HKD 278,590 thousand, a decrease of about 0.4%[24] - The total assets of the company amounted to HKD 1,204,899,000, with total liabilities at HKD 926,309,000, resulting in a net asset position of HKD 278,590,000[41] Cash Flow and Financial Health - The net cash and cash equivalents decreased to HKD 53,110 thousand from HKD 69,553 thousand, a decline of about 23.6%[23] - The net cash generated from operating activities was negative at HKD (14,331) thousand compared to a positive HKD 14,981 thousand in the previous year[29] - The cash flow from investing activities was positive at HKD 937 thousand, compared to HKD 1,269 thousand in the previous year[29] - The company has established a special collection team to improve cash flow and recover outstanding accounts, which has shown noticeable results[18] Shareholder Information - As of June 30, 2024, the total number of issued shares is 4,526,925,163[66] - China Energy Conservation (Hong Kong) Investment Limited holds 1,190,000,000 shares, representing 26.29% of the total issued shares[68] - Ms. Lu Haiwen holds 982,800 shares directly and has a spouse interest of 722,170,600 shares, totaling 15.97%[68] - Mr. Wang Zhiyu has a spouse interest of 253,000,000 shares, accounting for 5.59%[68] - Mr. Wang Xinmeng has a spouse interest of 255,504,000 shares, representing 5.64%[68] - Universal Zone Limited, fully owned by Mr. Zhang Yiying, holds 250,000,000 shares, which is 5.52% of the total[68] Corporate Governance and Compliance - The company has established an audit committee to oversee financial reporting and risk management[73] - The company has complied with the GEM Listing Rules, except for certain deviations regarding attendance at shareholder meetings[75] - Zhang Wei was appointed as the executive director and member of the Group Development Strategy Committee on March 28, 2024, with a base salary of HKD 148,550 plus performance bonuses based on key performance indicators for the fiscal year 2024[78] - The company did not declare any interim dividends for the six months ended June 30, 2024, consistent with the previous year[52] Acquisitions and Investments - The company has agreed to acquire 80% of Hydrogen Energy Technology Limited for a maximum consideration of HKD 70,200,000[13] - The acquisition of Hydrogen Energy Technology Limited will enhance the company's financial data consolidation and operational capabilities[13] - There were no significant acquisitions or disposals during the reporting period[8] - The company did not make any significant acquisitions of property, plant, and equipment during the reporting period[54] - The company has no significant capital commitments as of the reporting date[59]

Financial Performance - For the six months ended June 30, 2024, the company's revenue was approximately HKD 31,472,000, a decrease of about HKD 2,905,000 compared to HKD 34,377,000 in the same period last year[2][4] - The group recorded a net profit of approximately HKD 159,000 for the review period, a significant improvement from a loss of HKD 16,022,000 in the previous year[2][5] - The company reported a revenue of HKD 31,472,000 for the six months ended June 30, 2024, a decrease from HKD 34,377,000 in the same period last year, representing a decline of approximately 8.8%[16] - Gross profit for the same period was HKD 8,699,000, slightly down from HKD 8,861,000, indicating a stable gross margin despite the revenue decline[16] - The company achieved a net profit of HKD 159,000 for the six months ended June 30, 2024, a significant recovery from a net loss of HKD 16,022,000 in the previous year[16] - The profit before tax for the group was a loss of HKD 2,803,000, compared to a loss of HKD 16,024,000 in the previous year, indicating an improvement in performance[26] - The company reported a total comprehensive loss of HKD 1,787,000 for the six months ended June 30, 2024, compared to a loss of HKD 20,465,000 in the same period last year[17] Revenue Breakdown - Revenue from shallow geothermal energy was HKD 30,617,000, up from HKD 28,977,000 year-on-year, while revenue from air energy/shallow geothermal heat pumps decreased to HKD 635,000 from HKD 1,000,000[4] - For the six months ended June 30, 2024, total revenue from external customers was HKD 31,472,000, a decrease of 8.8% compared to HKD 34,377,000 for the same period in 2023[26] - The shallow geothermal energy segment generated revenue of HKD 30,617,000, while the air source/geothermal heat pump segment contributed HKD 1,000,000[26] - The group’s total segment revenue for the six months ended June 30, 2024, was HKD 33,747,000, compared to HKD 34,876,000 in the same period of 2023[26] Expenses and Cost Management - Selling and distribution expenses decreased to approximately HKD 5,048,000 from HKD 6,237,000, attributed to further salary reforms and cost control measures[5] - Administrative expenses decreased by approximately HKD 6,932,000 or 29.9% compared to the previous year, mainly due to reduced salary and related costs[5] - The cost of goods sold for the six months ended June 30, 2024, was HKD 9,782,000, a decrease from HKD 10,335,000 in 2023, representing a decline of about 5.3%[35] - The cost of services provided for the six months ended June 30, 2024, was HKD 12,981,000, down from HKD 15,185,000 in 2023, indicating a reduction of approximately 14.5%[35] - Employee benefits expenses, including salaries for directors and key management personnel, were HKD 12,400,000 for the six months ended June 30, 2024, a decrease from HKD 17,710,000 in 2023, reflecting a decline of about 30%[35] Assets and Liabilities - As of June 30, 2024, total non-current assets amounted to HKD 414,799,000, a decrease from HKD 426,412,000 as of December 31, 2023[18] - Current assets totaled HKD 746,643,000 as of June 30, 2024, down from HKD 778,487,000 at the end of the previous year[18] - The total assets less current liabilities stood at HKD 394,134 thousand as of June 30, 2024, slightly down from HKD 397,104 thousand at the end of 2023[19] - The company's total liabilities decreased from HKD 926,309 thousand in December 2023 to HKD 884,957 thousand as of June 30, 2024, indicating a reduction of approximately 4.5%[19] - The total amount of trade payables and notes payable as of June 30, 2024, was HKD 145,654,000, down from HKD 157,241,000 as of December 31, 2023[44] Staffing and Organizational Changes - The group employed approximately 198 staff members as of June 30, 2024, a decrease from about 218 employees at the end of 2023[12] - The company established a special collection team to recover overdue payments, which has shown noticeable results, particularly in recovering significant overdue project payments[15] - The company is focusing on internal control management and has adjusted employee performance evaluation systems, resulting in a significant reduction in expenses compared to the previous year[15] - The company is actively adapting to the new normal driven by innovation and dual carbon goals, restructuring its internal organization to enhance management efficiency[15] Shareholder Information - As of June 30, 2024, the total number of issued shares of the company is 4,526,925,163[50] - Mr. Xu Shengheng holds 722,170,600 shares, representing approximately 15.97% of the total issued shares[50] - China Energy Conservation and Environmental Protection (Hong Kong) Investment Co., Ltd. owns 1,190,000,000 shares, accounting for 26.29% of the total issued shares[53] - Mr. Wang Zhiyu's spouse holds 253,000,000 shares, which is 5.59% of the total issued shares[53] Corporate Governance - The audit committee has been established to review and supervise the group's financial reporting procedures, risk management, and internal control systems[60] - The company has complied with all provisions of the GEM Corporate Governance Code, except for the absence of a non-executive director at the annual general meeting[62] - No securities trading code of conduct has been adopted for directors, and no non-compliance with GEM Listing Rules was reported during the review period[61]