Financial Performance - For the six months ended December 31, 2019, the company reported revenue of HKD 173,807,000, a slight increase of 1.4% compared to HKD 171,399,000 for the same period in 2018[10] - The gross profit for the six months ended December 31, 2019, was HKD 30,823,000, down 25.1% from HKD 41,173,000 in the previous year[10] - The company incurred a loss before tax of HKD 43,726,000 for the six months ended December 31, 2019, compared to a profit of HKD 2,527,000 in the same period of 2018[10] - The net loss attributable to owners of the company for the six months ended December 31, 2019, was HKD 36,056,000, compared to a loss of HKD 1,010,000 in the previous year[11] - The basic and diluted loss per share for the six months ended December 31, 2019, was HKD 0.48, compared to a loss of HKD 0.01 in the same period of 2018[11] - The company reported a total comprehensive loss of HKD 44,383,000 for the six months ended December 31, 2019, compared to a loss of HKD 17,253,000 in the previous year[11] - The company recognized impairment losses of HKD 12,113,000 on property, plant, and equipment for the six months ended December 31, 2019[10] - The company also recognized impairment losses of HKD 43,578,000 on customer contracts during the same period[10] - Other income for the six months ended December 31, 2019, was HKD 5,554,000, down 31.1% from HKD 8,087,000 in the previous year[10] - The company reported administrative and other operating expenses of HKD 28,309,000 for the six months ended December 31, 2019, a decrease from HKD 40,244,000 in the previous year[10] Assets and Liabilities - As of December 31, 2019, the total assets amounted to HKD 639,272 thousand, a decrease from HKD 688,349 thousand as of June 30, 2019, reflecting a decline of approximately 7.1%[12] - The company's total liabilities increased to HKD 195,359 thousand as of December 31, 2019, from HKD 68,966 thousand as of June 30, 2019, representing a significant rise of approximately 184.5%[12] - The cash and cash equivalents decreased to HKD 96,723 thousand as of December 31, 2019, down from HKD 151,107 thousand as of June 30, 2019, a decline of approximately 36.1%[15] - The company's net asset value as of December 31, 2019, was HKD 437,735 thousand, a decrease from HKD 482,118 thousand as of June 30, 2019, reflecting a decline of approximately 9.2%[13] - The total equity attributable to owners of the company decreased to HKD 437,526 thousand as of December 31, 2019, from HKD 481,731 thousand as of June 30, 2019, a decrease of approximately 9.2%[13] - The company’s current assets net value decreased to HKD 383,392 thousand as of December 31, 2019, from HKD 497,272 thousand as of June 30, 2019, a decline of approximately 23.0%[13] Revenue Breakdown - Revenue from coal mining services was HKD 160,052,000 for the six months ended December 31, 2019, compared to HKD 160,901,000 in 2018, indicating a decrease of 0.5%[24] - Interest income from lending services increased to HKD 11,417,000 for the six months ended December 31, 2019, up from HKD 8,215,000 in 2018, reflecting a growth of 39.8%[24] - Revenue from heating services provided to Tianjin, China, was HKD 2,340,000, a slight increase from HKD 2,280,000 in 2018, making up 1.34% of total revenue[57] Operational Highlights - The company produced approximately 5,150,000 tons of coal and excavated about 19.88 kilometers of tunnels during the period, generating revenue of approximately HKD 160,050,000 from coal mining services, accounting for 92.09% of total revenue[53] - The group has 36 ongoing construction projects with a total contract value of approximately HKD 773,000,000, of which approximately HKD 414,300,000 has been recognized as revenue as of September 30, 2019[64] Corporate Governance - The company is committed to maintaining high standards of corporate governance to enhance shareholder value, complying with all applicable codes and best practices[93] - The audit committee has reviewed the unaudited condensed consolidated financial statements, confirming adherence to applicable accounting standards and GEM Listing Rules[96] - The company has adopted the GEM Listing Rules as a code of conduct for directors' securities transactions, ensuring compliance throughout the period[92] Future Plans and Strategies - The group plans to utilize 80% (approximately HKD 160,000,000) of the net proceeds from the share placement for developing clean energy-related services[74] - The group aims to expand its business coverage in Hong Kong by opening more branches to reach more potential customers[62] - The group is negotiating to acquire equity in a Chinese heating company that has contracted to provide heating for 300,000 square meters in Beijing[72] - The group plans to revise or supplement existing coal mining service agreements to comply with national regulations and continue services with another client[41] Market Conditions and Challenges - The group is aware of rising operational costs in Hong Kong due to increasing property prices and is adopting a cautious approach to expansion[62] - The group continues to optimize its product mix and implement cost management measures in response to market challenges[62] - The management remains optimistic about the core business and overall direction despite the challenging business environment[67]

Financial Performance - The company's revenue for the first quarter of 2019 was HKD 83,246,000, a decrease of 4.1% compared to HKD 87,388,000 in the same period of 2018[6] - Gross profit for the first quarter was HKD 15,722,000, down 26.5% from HKD 21,332,000 year-on-year[6] - The company reported a profit before tax of HKD 12,255,000, significantly up from HKD 1,318,000 in the previous year[6] - Net profit attributable to the owners of the company was HKD 10,232,000, compared to a loss of HKD 1,233,000 in the same quarter of 2018[7] - Basic and diluted earnings per share for the quarter were HKD 0.14, compared to a loss per share of HKD 0.02 in the previous year[7] - Total comprehensive income for the period was HKD (5,048,000), a significant improvement from HKD (19,661,000) in the same quarter of 2018[7] - The company's revenue for the three months ended September 30, 2019, was approximately HKD 83,250,000, a decrease of 4.74% compared to HKD 87,390,000 in the same period of 2018[24] - The gross profit for the period decreased by 26.30% to approximately HKD 15,720,000, with a gross profit margin dropping from 24.41% to 18.89%[24] - The company reported a profit attributable to owners of approximately HKD 10,230,000, compared to a loss of HKD 1,230,000 in the same period of 2018[25] Income and Expenses - The company recorded other income of HKD 2,988,000, an increase of 98.5% from HKD 1,504,000 in the same period last year[6] - The company recorded other income of approximately HKD 2,990,000, an increase from HKD 1,500,000 in the previous year[25] - Administrative and other operating expenses decreased to HKD 12,805,000 from HKD 14,623,000, reflecting a reduction of 12.4%[6] - The financing costs for the period were HKD 1,770,000, slightly down from HKD 1,780,000 in the previous year[25] - The income tax expense for the period was HKD 2,080,000, a decrease from HKD 2,630,000 in the previous year[25] Financial Assets and Gains - The fair value change of financial assets held for trading resulted in a gain of HKD 8,116,000, compared to a loss of HKD 5,120,000 in the previous year[6] - The fair value change of financial assets at fair value through profit or loss was a gain of approximately HKD 8,120,000, compared to a loss of HKD 5,120,000 in the previous year[30] Operational Highlights - The company produced approximately 2,580,000 tons of coal and excavated about 9.54 kilometers of tunnels during the period[26] - Revenue from coal mining services was approximately HKD 77,480,000, accounting for 93.07% of total revenue[27] - The primary source of revenue for the company remains coal mining services, facing increased production costs and intense market competition[31] Future Outlook and Strategy - The company anticipates continued growth in domestic heating system demand due to accelerated urbanization and environmental regulations in China[32] - Approximately 80% (around HKD 160 million) of the net proceeds from the share placement will be used to develop clean energy-related services, with the remaining 20% (around HKD 40 million) allocated for working capital[34] - The company plans to expand its heating business in more profitable regions, such as Beijing, through partnerships with local businesses[32] - The company aims to maintain healthy development across different business segments to diversify its revenue sources and strengthen its business portfolio[32] Shareholder Information - As of September 30, 2019, the company's issued share capital was approximately HKD 374.63 million, divided into 7,492,562,338 shares[33] - Major shareholders include Chen Chaohui with 10.77% (806,960,000 shares) and Xu Gongming with 8.81% (660,060,000 shares) of the company's shares[39] Governance and Compliance - The company has adopted the GEM Listing Rules for securities trading conduct, ensuring compliance by all directors during the reporting period[45] - The audit committee has been established to review the company's annual reports, interim reports, and quarterly reports, ensuring compliance with applicable accounting standards and GEM listing rules[48] - The audit committee consists of four independent non-executive directors, including Ms. Wang Nana as the chairperson[48] - As of the report date, the board of directors includes six executive directors and four independent non-executive directors[50] - The unaudited condensed consolidated financial statements for the period have been reviewed by the audit committee, confirming adequate disclosure[48] - The company is committed to maintaining robust internal control procedures and risk management systems[48] Other Financial Activities - The company experienced a foreign exchange loss of HKD 15,220,000 related to the translation of overseas operations[7] - The company has temporarily advanced approximately HKD 18 million to third parties to earn interest, optimizing cash resource investments[35] - No share options have been granted under the new share option scheme as of the report date[42]

Financial Performance - The Group recorded an audited consolidated revenue of approximately HK$316.76 million, representing an increase of 6.24% compared to the previous year[18]. - The loss for the year attributable to owners of the Company was HK$29.99 million, a decrease of 60.40% compared to last year[18]. - The Group's gross profit increased by 6.23% to approximately HK$63.76 million, maintaining a gross profit margin of 20.13%[27]. - Revenue from coal mining services was approximately HK$294.25 million, accounting for 92.89% of the Group's total revenue[34]. - The Group's money lending business generated revenue of approximately HK$16.87 million, which accounted for 5.33% of total revenue[36]. - The provision of heating supply services recorded revenue of approximately HK$5.64 million, accounting for 1.78% of total revenue, with a profit of approximately HK$6.06 million after government subsidies[37]. - The Group recorded other income of approximately HK$19.84 million, primarily from machinery leasing and government subsidies[28]. - The Group incurred administrative and other operating expenses of approximately HK$65.20 million, which did not materially change compared to the previous year[28]. Business Segments - The coal mining services segment contributed an operating profit of approximately HK$6.62 million to the Group[19]. - The money lending business generated an operating profit of HK$4.63 million[19]. - The provision of heating supply service recorded an operating profit of HK$6.06 million[19]. Strategic Initiatives - The Company is considering venturing into new business areas to broaden its revenue sources[20]. - The Group plans to expand into new business areas to diversify its revenue sources and create greater value for shareholders[23]. - The Group is considering venturing into the Chinese medicine and healthcare products market to diversify its income sources[73]. - The Group intends to expand its heat supply business in profitable areas such as Beijing through partnerships[65]. - The Group plans to enhance brand value through digitalization and multi-dimensional marketing strategies to optimize customer experience[50]. - The store network will be expanded through direct stores and franchises to improve coverage[50]. Operational Highlights - The Group produced approximately 12.93 million tonnes of coal and excavated approximately 19.56 kilometers of tunnels during the year[33]. - The Group's mining operations are subject to various operating risks, including unexpected maintenance issues and natural disasters, which could disrupt operations and damage reputation[114]. - The Group faces increasing competition from other mining service providers, particularly in Inner Mongolia, which may pressure profit margins[115]. - The Group operates without long-term contracts with customers, relying on management contracts typically lasting one to two years, which poses risks to future revenue[113]. - The Group actively seeks to expand its customer base to mitigate risks associated with revenue concentration[104]. Financial Position - As of June 30, 2019, the Group held cash and cash equivalents of approximately HK$151.11 million, down from HK$170.81 million in 2018[74]. - The current ratio as of June 30, 2019, was approximately 8.21 times, an increase from 6.78 times in 2018[75]. - The Group had no bank borrowings as of June 30, 2019, maintaining a gearing ratio of approximately 0.30[75]. - The Group's debt-to-asset ratio remained stable at approximately 0.30 as of June 30, 2019, consistent with the previous year[79]. Governance and Management - The management team includes experienced directors with backgrounds in mining, finance, and corporate management, enhancing the Group's operational capabilities[125][126][130][131][132][133]. - The company has a total of ten directors, including six executive directors and four independent non-executive directors, bringing diverse professional experiences to the board[147]. - The board is committed to maintaining high standards of corporate governance to enhance shareholder value and ensure effective risk management[143]. - The company has complied with all applicable code provisions of the Corporate Governance Practices throughout the year ended June 30, 2019[144]. - The company has established an audit committee and remuneration committee to oversee financial reporting and executive compensation[137]. Risk Management - The Group's money lending business faces credit risks, with no assets held as security for unsecured loans, potentially leading to losses from unrecoverable loans[120]. - The Group implements credit control measures to mitigate risks associated with the quality of its loan portfolio[120]. - The Group will maintain close communication with mine owners to monitor national regulatory policies affecting the coal industry[119]. - The Group's operations are significantly influenced by PRC laws and regulations, which may increase operating costs and compliance efforts due to potential changes[119]. Shareholder Engagement - The Group expresses gratitude to shareholders, customers, suppliers, and other business associates for their continued support[21]. - The management team and staff are acknowledged for their valuable contributions during the year[21]. Miscellaneous - The Group made donations amounting to HK$150,000 during the year[99]. - The Group has no significant contingent liabilities as of June 30, 2019[102]. - No significant events occurred after the reporting period[103].

Financial Performance - For the three months ended March 31, 2019, the company reported revenue of HKD 62,786,000, a decrease of 3% compared to HKD 65,355,000 for the same period in 2018[5] - The gross profit for the same period was HKD 13,736,000, representing a 12.5% increase from HKD 12,208,000 year-on-year[5] - The company incurred a loss of HKD 841,000 for the three months ended March 31, 2019, compared to a loss of HKD 8,548,000 in the same period of 2018, indicating a significant improvement[6] - The total comprehensive income for the three months ended March 31, 2019, was HKD 10,489,000, compared to HKD 16,161,000 for the same period in 2018[6] - For the nine months ended March 31, 2019, the company reported total revenue of HKD 234,185,000, an increase of 7.1% from HKD 218,503,000 in the previous year[5] - The company recorded revenue of approximately HKD 234,190,000 for the nine months ended March 31, 2019, an increase of 7.18% compared to HKD 218,500,000 for the same period in 2018[23] - Gross profit increased by 17.57% to approximately HKD 54,910,000, with a gross profit margin rising from 21.37% to 23.45%[23] - The loss attributable to owners of the company for the nine months ended March 31, 2019, was HKD 1,969,000, a significant reduction from HKD 17,535,000 in the previous year[6] - The company recorded a loss of approximately HKD 1,970,000 attributable to owners for the nine months ended March 31, 2019, compared to a loss of HKD 17,540,000 in the same period of 2018[24] Expenses and Income - The company’s administrative and other operating expenses decreased to HKD 15,831,000 for the three months ended March 31, 2019, down from HKD 19,266,000 in the same period of 2018[5] - The company recognized a tax expense of HKD 1,643,000 for the three months ended March 31, 2019, compared to a tax credit of HKD 945,000 in the same period of 2018[6] - The company reported a tax expense of HKD 5,180,000 for the period, an increase from a tax credit of HKD 360,000 in the previous year, mainly due to increased operating profit[24] - Other income for the period was approximately HKD 11,170,000, up from HKD 5,480,000 in 2018, primarily from machinery rental for coal mining services and government subsidies for heating services[24] - Financing costs for the period were approximately HKD 5,140,000, showing no significant change from HKD 4,820,000 in 2018[24] - The company experienced a decrease in other gains and losses, reporting a loss of approximately HKD 1,710,000 compared to HKD 5,030,000 in 2018, primarily due to reduced losses from fair value changes of listed securities[24] Assets and Equity - The company’s total equity as of March 31, 2019, was HKD 526,545,000, a decrease from HKD 532,451,000 at the beginning of the period[7] - As of March 31, 2019, the fair value of financial assets at fair value through profit or loss was approximately HKD 2,470,000, an increase from HKD 1,940,000 at the end of 2018[30] - The group held cash and cash equivalents of approximately HKD 105,530,000 as of March 31, 2019, down from HKD 170,810,000 on June 30, 2018[39] - The current ratio was approximately 7.66 times as of March 31, 2019, compared to 6.78 times on June 30, 2018[39] - Depreciation of property, plant, and equipment for the nine months was HKD 5,622,000, down from HKD 6,753,000 in 2018[14] Business Operations - The company continues to focus on providing mining services, heating services, and trading of mineral products as part of its core business strategy[9] - The group recorded revenue of approximately HKD 215,680,000 from coal mining services, representing a 7.9% increase from HKD 200,690,000 in the previous year, accounting for 92.10% of total revenue[26] - Loan interest income from lending operations was approximately HKD 12,590,000, up from HKD 11,570,000 in the previous year, making up 5.37% of total revenue[27] - Revenue from heating services was approximately HKD 5,920,000, a decrease from HKD 6,250,000 in the previous year, accounting for 2.53% of total revenue, with a gross loss of HKD 1,730,000[28] - The group is actively seeking new clients to expand its customer base and is negotiating a new contract[33] - The group plans to enter new business areas, such as traditional Chinese medicine and health products, to diversify its revenue sources[33] Corporate Governance - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited condensed consolidated financial statements for compliance with applicable accounting standards[60] - The company has adopted the GEM Listing Rules for directors' securities trading conduct and confirmed compliance during the period[57] - There were no interests or potential conflicts of interest reported by directors or major shareholders in competing businesses[54] - The company maintains high corporate governance standards to enhance shareholder value, adhering to the corporate governance code principles[58] - The company has not established any arrangements allowing directors to benefit from purchasing shares or debentures of the company or any other corporation during the period[48] - No other individuals or corporations held 5% or more of the company's shares as of March 31, 2019, apart from those disclosed[52] Shareholder Information - As of March 31, 2019, major shareholders include Chen Chaohui with 607,200,000 shares (8.10%) and Chen Ying with 645,380,000 shares (8.61%) [50] - The company has a share option scheme approved on December 12, 2014, allowing the grant of options to subscribe for up to 533,250,233 shares, representing 10% of the issued shares at that time [53] - The company has not granted any share options under the new share option scheme as of the report date [53] - No purchases, sales, or redemptions of the company's listed securities occurred during the period [56] - The company did not recommend any dividend distribution for the nine months ended March 31, 2019, consistent with the previous year[19] - The group has no bank borrowings as of March 31, 2019, maintaining a debt ratio of approximately 0.29[39] - The group employed 1,378 staff members as of March 31, 2019, with compensation based on industry practices and individual performance[42]

Financial Performance - For the three months ended December 31, 2018, the company reported revenue of HKD 84,011,000, an increase of 11.5% compared to HKD 75,615,000 for the same period in 2017[8]. - The gross profit for the six months ended December 31, 2018, was HKD 41,173,000, representing a 19.3% increase from HKD 34,497,000 in the prior year[8]. - The company recorded a net profit of HKD 310,000 for the three months ended December 31, 2018, compared to a net loss of HKD 5,386,000 in the same period of 2017[9]. - Revenue for the six months ended December 31, 2018, was HKD 171,399,000, an increase of 11.9% compared to HKD 153,148,000 for the same period in 2017[30]. - Coal mining services generated revenue of HKD 160,901,000 for the six months ended December 31, 2018, up from HKD 143,228,000 in the same period of 2017, representing a growth of 12.4%[33]. - The group reported a profit before tax of HKD 2,527,000 for the six months ended December 31, 2018, compared to a loss of HKD 8,363,000 for the same period in 2017[35]. - The company reported a loss attributable to owners of approximately HKD 1.01 million, a significant improvement from a loss of HKD 9.11 million in the same period of 2017[54]. Assets and Liabilities - The total assets as of December 31, 2018, amounted to HKD 738,999,000, slightly up from HKD 755,403,000 as of June 30, 2018[10]. - The company's cash and cash equivalents decreased to HKD 105,268,000 from HKD 170,805,000 over the six-month period[10]. - As of December 31, 2018, the net current assets amounted to HKD 531,294,000, showing a slight increase from HKD 528,334,000 as of June 30, 2018[11]. - Total assets less current liabilities were reported at HKD 646,932,000, down from HKD 663,974,000 in the previous period[11]. - The company's equity attributable to owners decreased to HKD 515,193,000 from HKD 532,451,000, reflecting a decline of approximately 3.3%[13]. - The fair value of financial assets measured at fair value through profit or loss was approximately HKD 1,940,000, down from HKD 5,450,000 as of June 30, 2018[60]. Cash Flow - The net cash used in operating activities for the six months ended December 31, 2018, was HKD (64,917,000), compared to HKD 25,384,000 in the same period of 2017[14]. - The cash and cash equivalents at the end of the period were HKD 105,268,000, down from HKD 112,985,000, indicating a decrease of about 6.8%[14]. - The group had cash and cash equivalents of approximately HKD 105,270,000, down from HKD 170,810,000 as of June 30, 2018[81]. Expenses and Costs - The company’s administrative and other operating expenses increased to HKD 40,244,000 for the six months ended December 31, 2018, compared to HKD 38,830,000 in the previous year[8]. - The company incurred financing costs of approximately HKD 3.46 million, which was consistent with HKD 3.21 million in the same period of 2017[54]. - Income tax expenses increased from HKD 580,000 in 2017 to HKD 3.53 million in the current period, mainly due to increased operating profit and reduced deferred tax reversals[54]. Shareholder Information - Major shareholders holding 5% or more of the company's shares include Chen Chao-hui (8.10%), Chen Ying (8.61%), and Huang Xin-song (6.82%) among others[91]. - The company has a share option scheme approved on December 12, 2014, allowing the grant of options to subscribe for up to 533,250,233 shares, representing 10% of the issued shares at that time[93]. - There were no purchases, sales, or redemptions of the company's listed securities during the period[95]. Corporate Governance - The company is committed to maintaining high standards of corporate governance to enhance shareholder value, adhering to the corporate governance code principles[98]. - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited condensed consolidated financial statements for the period, ensuring compliance with applicable accounting standards[99]. - The company has adopted the GEM Listing Rules as a code of conduct for directors' securities transactions, ensuring compliance throughout the period[96]. Business Operations - The company continues to focus on its core business areas, including coal mining services and heating services, while exploring potential market expansions[16]. - The company provided mining services to five coal mines, with one mine ceasing operations in January 2019, contributing approximately 6% to the segment's revenue[56]. - Revenue from heating services recorded approximately HKD 2,280,000, accounting for 1.33% of total revenue, with a slight loss of HKD 30,000 compared to a profit of HKD 1,380,000 in 2017[58].