Financial Performance - For the six months ended June 30, 2019, the group recorded revenue of approximately HKD 34.2 million, a decrease of about 7.8% compared to HKD 37.1 million in the same period last year[31]. - Net profit for the period was approximately HKD 5.2 million, down 20% from HKD 6.5 million in the previous year[31]. - Hotel room revenue was approximately HKD 17.8 million, accounting for about 52.1% of total revenue, down from 55.5% in the previous year[35]. - The average occupancy rate for the hotel was 61%, a decrease from 64% in the previous year[35]. - Average room rate decreased to HKD 533.8 from HKD 586.7 in the previous year[35]. - Revenue from bad debt assets was approximately HKD 10.4 million, accounting for about 30.3% of total revenue[43]. - Basic earnings per share for the period were HKD 0.137, down from HKD 0.180 in the previous year[31]. - Total comprehensive income for the six months ended June 30, 2019, was HKD 8,436,611, compared to a loss of HKD 5,426,773 in the same period of 2018[100]. - Gross profit for the six months ended June 30, 2019, was HKD 26,184,202, down from HKD 29,019,906 in 2018, indicating a decrease of about 9.5%[97]. - Net profit for the six months ended June 30, 2019, was HKD 5,237,140, compared to HKD 6,470,645 in the same period of 2018, reflecting a decline of approximately 19%[100]. Cash Flow and Financial Position - The company reported a net cash flow from operating activities of HKD (6,029,645) for the six months ended June 30, 2019, compared to HKD 12,296,920 for the same period in 2018[168]. - Cash flow from investing activities showed a net outflow of HKD (31,328,506) for the first half of 2019, compared to an inflow of HKD 8,112,070 in the previous year[177]. - The company experienced a significant decrease in cash and cash equivalents, with a net decrease of HKD (53,499,232) for the six months ended June 30, 2019, compared to an increase of HKD 148,209,602 in 2018[181]. - The total cash and cash equivalents at the end of the reporting period were HKD 111,044,385, down from HKD 190,474,342 at the end of June 2018[181]. - The group reported a current liability exceeding current assets by HKD 171,602,533[192]. - The company's net asset value increased to HKD 458,109,239 as of June 30, 2019, compared to HKD 449,672,628 at the end of 2018, reflecting an increase of approximately 1%[113]. - Current assets totaled HKD 217,875,824 as of June 30, 2019, down from HKD 244,399,592 at the end of 2018[104]. - Total liabilities decreased to HKD 564,620,433 as of June 30, 2019, from HKD 578,106,380 at the end of 2018, indicating a reduction of about 2.3%[107]. - The company's total assets as of June 30, 2019, were HKD 458,109,299, compared to HKD 445,626,8 at the end of June 2018[181]. Shareholder Information - Vertic holds a beneficial interest in 1,900,000,000 shares, representing approximately 54.44% of the total issued voting shares of the company[80]. - CMI Financial Holding Company owns 690,000,000 shares, accounting for 19.77% of the total issued voting shares[80]. - China Eastern Asset Management Company holds 310,000,000 shares, which is about 8.88% of the total issued voting shares[87]. - The company maintains sufficient public float as of the date of the interim report[95]. - The major shareholders' interests and holdings are disclosed in accordance with the Securities and Futures Ordinance[80]. - The beneficial ownership structure of Vertic includes 50% by Mr. Yan Yi, 25% by Ms. Yan Yizhen, and 25% by Ms. Yan Yiping[84]. - The company has maintained compliance with the GEM Listing Rules regarding shareholder disclosures[80]. - The board of directors is aware of no other interests or short positions in the company's shares that require disclosure[91]. Future Outlook and Strategic Plans - The first phase of the Bintan development project is expected to be completed in the second half of 2019[39]. - The company plans to leverage opportunities from the Belt and Road Initiative to explore potential acquisitions in China and other Asian countries[60]. - The company aims to enhance asset returns and corporate value through land development in Bintan[60]. - The company plans to continue its expansion in the hotel and property investment sectors, focusing on improving operational efficiency and managing debt levels[182]. - The company maintains a positive outlook for future growth in its existing and newly acquired businesses[60]. Compliance and Accounting Standards - The financial statements are prepared in accordance with International Accounting Standard 34 and GEM Listing Rules Chapter 18[187]. - The group’s accounting policies remain consistent with those adopted in the annual financial statements for 2018, except for new standards effective from January 1, 2019[188]. - The group has not applied any new standards or interpretations that have not yet come into effect during the current accounting period[198]. - The impact of adopting IFRS 16 has been outlined, indicating no significant effect from other new or revised standards[198]. - The group’s financial statements do not include all the information required for a complete set of financial statements under IFRS[189]. Dividends and Earnings - The board recommended not to declare any dividends for the period[31]. - The board of directors recommended not to declare any dividends for the review period[56].

Financial Performance - For the three months ended March 31, 2019, the group recorded revenue of approximately HKD 18.4 million, a decrease of about 13.6% compared to HKD 21.3 million for the same period in 2018[32] - Net profit for the review period was approximately HKD 1.8 million, down about 83% from HKD 10.3 million in the same period last year[32] - Earnings per share for the review period were HKD 0.052, compared to HKD 0.297 for the same period in 2018[32] - Gross profit for the same period was HKD 14,394,901, down from HKD 17,073,008, reflecting a decline in profitability[79] - The total comprehensive income for the period was HKD 9,070,657, down from HKD 14,181,966, a decrease of about 36.1%[79] - The group reported a profit before tax of HKD 1,800,855 for the three months ended March 31, 2019, compared to HKD 10,362,616 in the same period of 2018, indicating a significant decline[115] Revenue Breakdown - Room revenue was approximately HKD 9.0 million, accounting for about 48.9% of total revenue, down from 52.6% in the previous year[36] - Food and beverage revenue was approximately HKD 1.2 million, representing about 6.6% of total revenue, up from 0.9% in the previous year[39] - Rental income from hotel tenants was approximately HKD 1.5 million, accounting for about 8.2% of total revenue, compared to 7.5% in the previous year[39] - Revenue from non-performing debt assets was HKD 6.3 million, accounting for approximately 34.2% of total revenue[44] - Revenue from hotel operations was HKD 9,008,753, a decrease of 19.4% compared to HKD 11,166,645 in the previous year[95] - The revenue from bad debt assets classified as receivables was HKD 9,380,638, down from HKD 11,109,346, a decrease of approximately 15.6%[93] Operational Metrics - The occupancy rate for the review period was 61%, down from 69% in the same period last year[36] - Average room rate was HKD 547.2, a decrease from HKD 600.6 in the previous year[36] - Employee costs increased to HKD 3,852,866 from HKD 3,503,841, reflecting a rise of approximately 9.9%[103] - The group incurred tax expenses of HKD 497,991 during the review period, with no tax provision made for profits generated in Hong Kong[112] Corporate Governance - The board has recommended not to declare any quarterly dividend for the review period[32] - The company is committed to maintaining high standards of corporate governance to ensure transparency and protect shareholder interests[51] - The audit committee is responsible for reviewing and supervising the financial reporting process and risk management of the group[48] Future Outlook - The company is optimistic about future growth from existing and newly acquired businesses, focusing on land development in Mindan to enhance revenue and asset returns[45] - The company plans to leverage opportunities from the "Belt and Road" initiative to identify potential acquisition opportunities in China[45] - The company aims to expand its business footprint into Greater China and other Asian countries to capitalize on the growth in the tourism industry[45] Shareholding Structure - As of March 31, 2019, the company held 1,900,000,000 shares, representing 54.44% ownership through Vertic Holdings Limited[67] - CMI Financial Holding holds 690,000,000 shares, representing 19.77% ownership in the company[67] - CMI Hong Kong holds 76,600,000 shares, representing approximately 2.19% of the company's issued share capital[71] - The company maintained sufficient public float as of the report date[78] - There were no other individuals or companies with reportable interests in the company's shares as of March 31, 2019[74] Accounting and Reporting - The group expects no significant impact on its financial performance from the adoption of new accounting standards effective after January 1, 2019[92] - The board approved and authorized the release of financial data on May 15, 2019[119] - The first quarter report for 2019 was published by PB Huaxing Holdings Limited[120]

Financial Performance - The company recorded a loss of approximately HKD 3.1 million for the year, a decrease of about HKD 14 million or 127% compared to the previous year[9]. - The loss attributable to owners of the company was approximately HKD 3.3 million, compared to a profit of about HKD 11 million in the previous year[14]. - Basic loss per share was approximately HKD 0.093, compared to basic earnings of about HKD 0.32 in the previous year[14]. - Room revenue for the year was approximately HKD 39.8 million, accounting for about 65.7% of total revenue, compared to 61.7% in the previous year[16]. - The board does not recommend any dividend payment for the year, consistent with the previous year[14]. Operational Highlights - The hotel operations in Singapore remain the main business focus, with no significant changes during the year[15]. - Total available room nights for the year ended December 31, 2018, remained at 100,010, with an occupancy rate of 62.61%, down from 63.9% in 2017[17]. - Average room rate decreased to HKD 577.7 from HKD 587.6 in 2017, while average revenue per available room fell to HKD 361.5 from HKD 370.6[17]. - Restaurant revenue for the year was approximately HKD 3.3 million, representing 5.5% of total revenue, an increase from 2.1% in 2017[17]. - Rental income from hotel tenants was about HKD 6.1 million, up from HKD 5.6 million in 2017, accounting for 10% of total revenue compared to 8.5% in the previous year[20]. Debt and Liabilities - As of December 31, 2018, the net current liabilities were approximately HKD 159 million, an increase from HKD 100.3 million in 2017, with cash and cash equivalents of about HKD 165 million[24]. - The debt-to-equity ratio as of December 31, 2018, was approximately 73.1%, significantly higher than 44.6% in 2017[24]. Employee and Training - The total employee cost for the year was around HKD 21 million, up from HKD 15 million in 2017, with a total of 57 employees compared to 50 in the previous year[30]. - The company provided a total of 157.25 hours of training to employees[119]. - In 2018, 95.5% of male employees and 100% of female employees received training[121]. - The company maintains a gender diversity ratio of 52% male and 48% female among its workforce[117]. - The company emphasizes the importance of employee training to ensure high-quality service and maintain customer satisfaction[56]. Corporate Governance - The board consists of nine members, including three executive directors, three non-executive directors, and three independent non-executive directors[166]. - The company adheres to the GEM Listing Rules and has confirmed the independence of its independent non-executive directors[167]. - The company is committed to maintaining high standards of corporate governance to protect shareholder interests[163]. - The company has adopted a board diversity policy to enhance the effectiveness of its board[167]. - The audit committee reviewed the financial statements for the year, ensuring compliance with accounting principles and practices[179]. Sustainability and Environmental Impact - The company is committed to integrating sustainability into its operations and business strategies, focusing on safety, service quality, and resource conservation[93]. - In 2018, the total greenhouse gas emissions (Scope 1 and Scope 2) were 975 tons, a decrease from 1,105 tons in 2017[143]. - The total energy consumption in 2018 was 2,327 MWh, down from 2,608 MWh in 2017[147]. - The total water consumption in 2018 was 19,910 cubic meters, an increase from 16,474 cubic meters in 2017[147]. - The company has implemented various green measures, including encouraging the use of recycled paper and electronic communication to reduce paper usage[147]. Future Outlook - The company anticipates that the performance of its associate company will rebound in 2019, viewing the previous year's losses as a one-time event[9]. - The construction of the Bintan asset is expected to be completed in the second half of 2019, following improvements made during the year[9]. - The group maintains an optimistic outlook for future growth and aims to enhance overall asset returns and corporate value[10]. - The group is actively seeking acquisition opportunities to expand its hotel business in Southeast Asia, with a terminated agreement for a property acquisition valued at SGD 29 million (approximately HKD 168.4 million)[86]. - The group aims to leverage the "Belt and Road" initiative to explore potential acquisition opportunities in China and other Asian countries[88].