中国金融国际(00721) - 2025 - 年度业绩

Company Overview and Financial Summary This section provides an overview of the company's basic information and summarizes its consolidated financial performance and position for the year Company Basic Information China Financial International Investments Limited (the Company) is incorporated in Bermuda, with shares listed on the Hong Kong Stock Exchange, primarily investing in listed and unlisted companies in Hong Kong and China - The Company is incorporated in Bermuda, with its shares listed on the Hong Kong Stock Exchange[6] - The Group primarily engages in investing in listed and unlisted companies established and/or operating in Hong Kong and China[6] - The consolidated financial statements are presented in HKD, while the Company's functional currency is RMB[6] Consolidated Statement of Profit or Loss and Other Comprehensive Income For the year ended June 30, 2025, the Group shifted from a profit to a loss, primarily due to fair value changes in financial assets and a significant decrease in revenue, despite notable growth in other income and a reduction in administrative expenses Key Data from Consolidated Statement of Profit or Loss and Other Comprehensive Income | Indicator | 2025 (HK$ '000) | 2024 (HK$ '000) | Year-on-year Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 164 | 1,224 | -86.60% | | Other Income | 327 | 1 | +32600.00% | | Reversal of impairment loss on other receivables | 3,677 | 6,722 | -45.30% | | Fair value (loss)/gain on financial assets at fair value through profit or loss | (4,978) | 24,543 | -120.28% | | Administrative expenses | (7,112) | (7,589) | -6.29% | | (Loss)/profit before tax | (8,809) | 23,759 | -137.16% | | (Loss)/profit for the year | (8,809) | 27,897 | -131.58% | | Total comprehensive (expense)/income for the year attributable to owners of the Company | (7,906) | 35,694 | -122.15% | - The net loss for the year was HK$8,809,000, compared to a net profit of HK$27,897,000 last year[2][26] - Among other comprehensive income, the fair value gain on equity instruments at fair value through other comprehensive income was HK$1,838,000, a significant decrease from HK$8,562,000 last year[3] Consolidated Statement of Financial Position As of June 30, 2025, the Group's total assets and total equity decreased, but cash and cash equivalents significantly increased, while prepayments and other receivables substantially decreased Key Data from Consolidated Statement of Financial Position | Indicator | 2025 (HK$ '000) | 2024 (HK$ '000) | Year-on-year Change (%) | | :--- | :--- | :--- | :--- | | Non-current assets | | | | | Interests in an associate | 306 | 199 | +53.77% | | Financial assets at fair value through profit or loss | 27,888 | 36,992 | -24.61% | | Equity instruments at fair value through other comprehensive income | 29,761 | 27,923 | +6.58% | | Total non-current assets | 57,955 | 65,382 | -11.36% | | Current assets | | | | | Prepayments, deposits and other receivables | 1,824 | 104,275 | -98.25% | | Financial assets at fair value through profit or loss | 25,150 | 21,215 | +18.55% | | Cash and cash equivalents | 96,482 | 19 | +507700.00% | | Total current assets | 123,456 | 125,509 | -1.64% | | Current liabilities | | | | | Other payables and accrued liabilities | 13,739 | 14,376 | -4.30% | | Borrowings | 9,997 | 9,997 | 0.00% | | Total current liabilities | 24,174 | 25,377 | -4.89% | | Net assets | 157,237 | 165,143 | -4.80% | - Cash and cash equivalents significantly increased from HK$19,000 in 2024 to HK$96,482,000 in 2025[4][38] - Prepayments, deposits, and other receivables significantly decreased from HK$104,275,000 in 2024 to HK$1,824,000 in 2025[4] Per Share Financial Indicators This year's basic loss per share was HK$0.080 cents, compared to a basic earnings per share of HK$0.254 cents last year, with net asset value per share also decreasing Per Share Financial Indicators | Indicator | 2025 | 2024 | | :--- | :--- | :--- | | Basic (loss)/earnings per share (HK cents) | (0.080) | 0.254 | | Net asset value per share (HK cents) | 1.43 | 1.51 | | Weighted average number of ordinary shares ('000 shares) | 10,971,634 | 10,971,634 | - Diluted (loss)/earnings per share is not presented as there were no potential ordinary shares outstanding for both years[24] Accounting Policies and Standards This section details the Group's general information, the application of new Hong Kong Financial Reporting Standards, and amendments issued but not yet effective General Information The Company is an exempted company incorporated in Bermuda, with shares listed on the Hong Kong Stock Exchange, primarily investing in listed and unlisted companies in Hong Kong and China - The Company has deregistered in the Cayman Islands and re-domiciled to Bermuda as an exempted company[6] - The Group primarily engages in investing in listed and unlisted companies established and/or operating in Hong Kong and China[6] Amendments to Hong Kong Financial Reporting Standards Applied This year, the Group first applied several new and amended Hong Kong Financial Reporting Standards issued by the HKICPA, which had no significant impact on its financial position or performance Amendments to Hong Kong Financial Reporting Standards Mandatorily Effective This Year | Amended Standard | Content | | :--- | :--- | | Amendments to HKAS 1 | Classification of Liabilities as Current or Non-current and related amendments to HK Interpretation 5 (2020) | | Amendments to HKAS 1 | Non-current Liabilities with Covenants | | Amendments to HKAS 7 and HKFRS 7 | Supplier Finance Arrangements | | Amendments to HKFRS 16 | Lease Liability in a Sale and Leaseback | - The application of amendments to HKFRS accounting standards this year had no significant impact on the Group's financial position and performance for the current and prior years, and/or the disclosures in these consolidated financial statements[7] Amendments to Hong Kong Financial Reporting Standards Issued But Not Yet Effective The Group has not early adopted several issued but not yet effective HKFRS amendments, with HKFRS 18 "Presentation and Disclosure in Financial Statements" expected to impact future financial statement presentation and disclosures Amendments to Hong Kong Financial Reporting Standards Issued But Not Yet Effective | Amended Standard | Content | Effective Date | | :--- | :--- | :--- | | Amendments to HKFRS 10 and HKAS 28 | Sale or Contribution of Assets between an Investor and its Associate or Joint Venture | A date to be determined | | Amendments to HKAS 21 | Lack of Exchangeability | On or after 1 January 2025 | | Amendments to HKFRS 9 and HKFRS 7 | Amendments to Classification and Measurement of Financial Instruments | On or after 1 January 2026 | | Amendments to HKFRS 9 and HKFRS 7 | Contracts for which the output is electricity generated from natural resources | On or after 1 January 2026 | | Amendments to HKFRS Accounting Standards | Annual Improvements to HKFRS Accounting Standards – Volume 11 | On or after 1 January 2026 | | HKFRS 18 | Presentation and Disclosure in Financial Statements | On or after 1 January 2027 | - HKFRS 18 "Presentation and Disclosure in Financial Statements" will replace HKAS 1, introducing new presentation and disclosure requirements, which are expected to impact the presentation of the statement of profit or loss and disclosures in future financial statements[9][10] Operating Segment Analysis This section provides an overview of the Group's reportable segments, including their revenue, results, and asset allocation Segment Overview The Group's reportable segments include micro-lending services, property and natural gas, clean energy, and other businesses, primarily conducted through equity investments in investees - The Group's reportable segments include micro-lending services, property and natural gas, clean energy, and other businesses[15] - Segment information is reported to the chief operating decision-makers (executive directors) for resource allocation and segment performance assessment[13] Segment Revenue and Results This year, the clean energy segment recorded revenue but expanded its segment loss, while the property and natural gas segment remained profitable but declined, and other segments shifted from profit to loss Segment Revenue and Results (HK$ '000) | Segment | 2025 Revenue | 2024 Revenue | 2025 Segment Profit/(Loss) | 2024 Segment Profit/(Loss) | | :--- | :--- | :--- | :--- | :--- | | Micro-lending services | – | – | – | – | | Property and natural gas | – | – | 4,219 | 6,541 | | Clean energy | 164 | 1,224 | (8,899) | (33,753) | | Others | – | – | (134) | 52,979 | | Total | 164 | 1,224 | (4,814) | 25,767 | - Clean energy segment revenue decreased from HK$1,224,000 in 2024 to HK$164,000 in 2025[14][16] - Clean energy segment loss narrowed from HK$33,753,000 in 2024 to HK$8,899,000 in 2025[14][16] - The "Others" segment shifted from a profit of HK$52,979,000 in 2024 to a loss of HK$134,000 in 2025[14][16] Other Segment Information This year, the total fair value gain/loss on financial assets at fair value through profit or loss was a loss of HK$4,978,000, compared to a gain of HK$24,543,000 last year, with total segment assets significantly decreasing and unallocated assets substantially increasing Fair Value Gain/(Loss) on Financial Assets at Fair Value Through Profit or Loss (HK$ '000) | Segment | 2025 | 2024 | | :--- | :--- | :--- | | Micro-lending services | – | – | | Property and natural gas | 4,219 | 6,541 | | Clean energy | (9,063) | (34,977) | | Others | (134) | 52,979 | | Total | (4,978) | 24,543 | Segment Assets (HK$ '000) | Segment | 2025 | 2024 | | :--- | :--- | :--- | | Micro-lending services | – | – | | Property and natural gas | 41,132 | 33,508 | | Clean energy | 27,888 | 66,002 | | Others | 13,779 | 89,765 | | Total segment assets | 82,799 | 189,275 | | Unallocated assets | 98,612 | 1,616 | | Consolidated assets | 181,411 | 190,891 | - Total segment assets decreased from HK$189,275,000 in 2024 to HK$82,799,000 in 2025, primarily due to reduced assets in the clean energy and other segments[18] - Unallocated assets significantly increased from HK$1,616,000 in 2024 to HK$98,612,000 in 2025[18] Notes to the Financial Statements This section provides detailed notes on the Group's revenue, other income, finance costs, income tax, components of loss/profit, and dividend policy Revenue This year's revenue entirely comprised dividend income from financial assets at fair value through profit or loss, which significantly decreased compared to last year Revenue Components (HK$ '000) | Source | 2025 | 2024 | | :--- | :--- | :--- | | Dividend income from financial assets at fair value through profit or loss | 164 | 1,224 | - Dividend income decreased by 86.60% compared to last year, being one of the primary reasons for the loss this year[26][28] Other Income This year's other income primarily consisted of bank interest income, which significantly increased compared to last year Other Income (HK$ '000) | Source | 2025 | 2024 | | :--- | :--- | :--- | | Bank interest income | 327 | 1 | - Bank interest income increased from HK$1,000 in 2024 to HK$327,000 in 2025, representing a 32,600.00% increase[26] Finance Costs This year's finance costs slightly decreased, primarily comprising interest on borrowings and lease liabilities Finance Costs (HK$ '000) | Component | 2025 | 2024 | | :--- | :--- | :--- | | Interest on borrowings | 800 | 802 | | Interest on lease liabilities | 49 | 90 | | Total | 849 | 892 | Income Tax Credit There was no income tax credit this year as the Group had no assessable profits; Hong Kong profits tax uses a two-tiered rate, while Chinese subsidiaries are taxed at 25% Income Tax Credit (HK$ '000) | Component | 2025 | 2024 | | :--- | :--- | :--- | | Current tax | – | 62 | | Over-provision in prior years | – | (4,200) | | Income tax credit | – | (4,138) | - As the Group had no assessable profits for both years, no provision for Hong Kong profits tax and PRC corporate income tax was made in the consolidated financial statements[21] - Hong Kong profits tax adopts a two-tiered tax rate system, with the first HK$2,000,000 of assessable profits taxed at 8.25% and the remainder at 16.5%[20] - The tax rate for PRC subsidiaries remained at 25% for both years[21] Components of Loss/Profit for the Year This year's loss was primarily influenced by reduced directors' remuneration and staff welfare expenses, alongside a significant decrease in the reversal of impairment loss on other receivables Items Deducted From/(Credited To) Loss/Profit for the Year (HK$ '000) | Item | 2025 | 2024 | | :--- | :--- | :--- | | Directors' remuneration | 928 | 2,154 | | Total staff welfare expenses | 1,920 | 3,498 | | Auditor's remuneration - audit services | 1,050 | 1,000 | | Auditor's remuneration - non-audit services | 250 | 195 | | Custodian fees | 157 | 156 | | Investment management fees | 115 | 117 | | Reversal of impairment loss on other receivables | (3,677) | (6,722) | - Directors' remuneration decreased from HK$2,154,000 in 2024 to HK$928,000 in 2025[22] - Total staff welfare expenses decreased from HK$3,498,000 in 2024 to HK$1,920,000 in 2025[22] - Reversal of impairment loss on other receivables decreased from HK$6,722,000 in 2024 to HK$3,677,000 in 2025[22] Dividends For the year ended June 30, 2025, the Company neither paid nor proposed any dividends - No dividends were paid or proposed to ordinary shareholders of the Company for the year ended June 30, 2025[23] Management Discussion and Analysis This section reviews the Group's overall performance, listed and unlisted investments, future outlook, liquidity, capital structure, and other key operational aspects Overall Performance Review The Group recorded a net loss of HK$8,809,000 this year, primarily due to fair value losses on unlisted investments and a significant decrease in dividend income, although administrative expenses declined - A net loss of HK$8,809,000 was recorded for the year, compared to a net profit of HK$27,897,000 last year[26] - The loss was primarily due to a fair value loss of approximately HK$9,284,000 on unlisted investments at fair value through profit or loss, and a significant 86.60% decrease in dividend income from unlisted investments to HK$164,000[26][28] - Administrative expenses decreased by 6.29% from HK$7,589,000 last year to HK$7,112,000 this year, mainly due to reduced staff costs and directors' remuneration[26] Review of Listed Investments This year, the listed securities business recorded a loss of HK$7,625,000, compared to a gain of HK$9,924,000 last year; listed securities market value increased at year-end, but no dividend income from listed investments was recorded this year - The listed securities business recorded a loss of HK$7,625,000 this year, compared to a gain of HK$9,924,000 last year[27] - As of June 30, 2025, the market value of listed securities increased to HK$41,132,000 (2024: HK$33,791,000)[27] - No dividend income from listed investments was recorded this year[27] - The Company sold shares in Hengding Industrial in December 2024, recording a realized loss of approximately HK$134,000, and no longer held the security at year-end[29] Review of Unlisted Investments This year, the unlisted investment portfolio recorded a total loss of HK$10,631,000, mainly due to a significant decrease in dividend income and the absence of last year's one-off fair value gain from the disposal of Jusheng Light Alloy; the Group is gradually exiting the micro-lending industry and continuing to focus on clean energy - The unlisted investment portfolio recorded a total loss of HK$10,631,000 this year (2024: gain of HK$23,181,000)[30] - Dividend income from unlisted investments decreased by 86.60% from HK$1,224,000 last year to HK$164,000[30] - The fair value of unlisted investments decreased by 20.39% from HK$52,339,000 last year to HK$41,667,000[31] - The Group had no new transactions or investment dealings this year, leading to a loss in the absence of investment income[30] Unlisted Equity Investment Strategy The Group will continue to focus on bioenergy investments and plans to gradually exit the micro-lending industry to consolidate resources and maximize shareholder value - Since 2018, the Group has focused on the clean energy sector, making multiple investments, with bioenergy considered carbon-neutral and renewable[32] - Given concerns about declining interest rates and rising operational risks in the micro-lending industry, the Company has planned to exit its investments in this sector[32] - In the future, the focus will remain on bioenergy investments, gradually exiting the micro-lending industry to explore new investment areas and maximize shareholder value[33] Details of Unlisted Equity Investment Portfolio The unlisted equity investment portfolio is primarily concentrated in clean energy, micro-lending, and guarantee services, with significant unrealized losses in clean energy and no fair value gains from micro-lending investments Unlisted Equity Investment Portfolio (As of June 30, 2025, HK$ '000) | Company Name | Location | Effective Interest | Nature of Business | Investment Cost | Fair Value | Dividends Received/Receivable | Net Assets Attributable to Investment | Percentage of Total Group Assets | Realized Fair Value Gain/(Loss) Recognized in Profit or Loss | Unrealized Fair Value Gain/(Loss) Recognized in Profit or Loss | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Micro-lending services | | | | | | | | | | | | Harbin Zhongjin Guoxin Micro-lending Co., Ltd. | Harbin, Heilongjiang Province | 30% | Provision of micro-lending and financial advisory services | 36,693 | – | – | – | – | – | – | | Tianjin Binlian Micro-lending Co., Ltd. | Tianjin | 3.3% | Provision of micro-lending and financial advisory services | 12,271 | – | 164 | – | – | – | – | | Nanjing Jiangning Mingyang Rongtong Rural Micro-lending Co., Ltd. | Nanjing, Jiangsu Province | 30% | Provision of micro-lending and financial advisory services | 36,673 | – | – | – | – | – | – | | Subtotal | | | | 85,637 | – | 164 | – | | – | – | | Guarantee services | | | | | | | | | | | | Jiangxi Huazhang Hanchen Guarantee Group Co., Ltd. | Nanchang, Jiangxi Province | 1.77% | Provision of financing guarantees | 43,150 | 13,779 | – | 13,779 | 8.76% | – | – | | Investment and management consulting services | | | | | | | | | | | | Shenzhen Zhongtou Jinxin Asset Management Co., Ltd. | Shenzhen, Guangdong Province | 30% | Provision of project investment consulting services | 18,350 | – | – | – | – | – | – | | Xi'an Kairong Financial Services Co., Ltd. | Xi'an, Shaanxi Province | 30% | Provision of financial management services | 18,724 | – | – | – | – | – | – | | Subtotal | | | | 37,074 | – | – | – | | – | – | | Clean energy | | | | | | | | | | | | Henan Tianguan Energy Biochemical Technology Co., Ltd. | Henan Province | 30% | Production and sale of denatured fuel ethanol, etc. | 230,763 | 6,988 | – | 6,988 | 4.44% | – | 221 | | Hunan Huanan New Energy Co., Ltd. | Hunan Province | 30% | New energy technology development, transfer, and consulting, etc. | 51,200 | – | – | – | – | – | – | | Hainan Keyihuirui Bioenergy Technology Co., Ltd. | Hainan Province | 30% | Bioenergy technology development, transfer, and consulting, etc. | 117,450 | – | – | – | – | – | – | | Henan Zhongxin Petrochemical Oil Sales Co., Ltd. | Henan Province | 30% | Operation of refined petroleum products | 52,084 | 20,096 | – | 20,096 | 12.78% | – | (561) | | Henan Zhongxin Bioenergy Technology Co., Ltd. | Henan Province | 30% | Production and sale of fuel ethanol and related products | 52,084 | 804 | – | 804 | 0.51% | – | (8,723) | | Subtotal | | | | 503,581 | 27,888 | – | 27,888 | | – | (9,063) | | Total | | | | 669,442 | 41,667 | 164 | 41,667 | | – | (9,063) | - Within the clean energy investment portfolio, Henan Zhongxin Bioenergy Technology Co., Ltd. recorded an unrealized fair value loss of HK$8,723,000[36] - The fair value of the micro-lending services investment portfolio was zero, with only Tianjin Binlian Micro-lending Co., Ltd. contributing HK$164,000 in dividend income[34] Outlook The Group will continue to focus on China's bioethanol industry, actively monitor global virtual asset market investment opportunities, and establish a robust risk management framework - The Group will continue to focus on China's bioethanol industry[37] - The Group will also closely monitor investment opportunities in the global virtual asset market, accumulating industry experience and exploring new growth drivers while complying with regulatory requirements[37] - A comprehensive risk management framework will be established to ensure that any related business expansion aligns with the Company's long-term investment strategy and shareholder interests[37] Liquidity, Financial Resources and Gearing Ratio The Group's cash and cash equivalents significantly increased, while its current ratio and gearing ratio remained healthy, with no bank borrowings - As of June 30, 2025, the Group's cash and cash equivalents significantly increased to HK$96,482,000 (2024: HK$19,000)[38] - The current ratio was approximately 5.11 times (2024: 4.95 times), and the gearing ratio was approximately 13.33% (2024: 13.49%)[38] - The Group had no bank borrowings as of June 30, 2025[39] Capital Structure The Group's shareholders' equity decreased, but the total number of issued shares remained unchanged Capital Structure (As of June 30, 2025) | Indicator | 2025 | 2024 | | :--- | :--- | :--- | | Shareholders' equity | HK$157,237,000 | HK$165,143,000 | | Total number of issued shares | Approximately 10,971,634,000 shares | Approximately 10,971,634,000 shares | Exchange Rate Fluctuation Risk The Group's primary business transaction currencies are HKD and RMB, but RMB-denominated transactions are not significant, so the Board considers exchange rate fluctuation risk to be immaterial - HKD and RMB are the primary currencies for the Group's business transactions[42] - RMB-denominated transactions were not significant this year, and the Board considers the Group's exposure to exchange rate fluctuation risk to be immaterial[42] Capital Commitments and Contingent Liabilities The Group had no significant capital commitments or contingent liabilities during the year or at year-end - The Group had no significant capital commitments during the year, nor any significant contingent liabilities as of June 30, 2025[43] Employees and Remuneration Policy The Group's employee count remained stable, total staff costs decreased, and the remuneration policy considers multiple factors - As of June 30, 2025, the Group had 6 employees (including directors), consistent with last year[44] - Total staff costs (including directors' remuneration) for the year were HK$1,920,000 (2024: HK$3,498,000), representing a decrease[44] - Employee remuneration packages are determined by various factors, including employee experience and performance, market conditions, industry practices, and applicable employment laws[44] Material Acquisitions, Disposals and Significant Investments Aside from the disclosed disposals of listed and unlisted investments, there were no other material acquisitions, disposals, or significant investments this year - Other than the disposals of investments disclosed in the "Review of Listed Investments" and "Review of Unlisted Investments" sections of this announcement, there were no material acquisitions, disposals of subsidiaries, associates, and joint ventures, or significant investments during the year[46] Corporate Governance and Audit This section covers the Group's audit committee, corporate governance practices, directors' securities transactions, auditor's scope of work, publication of results, and board information Audit Committee The Audit Committee is responsible for reviewing and overseeing the Group's financial reporting processes and internal control systems, and has reviewed this year's financial statements - The Audit Committee is primarily responsible for reviewing and overseeing the Group's financial reporting procedures and internal control systems, and providing advice and recommendations to the Board[47] - The Audit Committee comprises three independent non-executive directors[47] - The Audit Committee has met with the external auditor to review the accounting principles and practices adopted by the Group and discuss audit and financial reporting matters, including reviewing this announcement and the Group's financial statements for the year[47] Corporate Governance The Company is committed to maintaining good corporate governance standards; this year saw a deviation from the Code's requirement for separation of Chairman and CEO roles, but compliance was achieved after June 30, 2025, through a change in Chairman - The Company has adopted the principles of the Corporate Governance Code set out in Appendix C1 of the Listing Rules and complied with the relevant Corporate Governance Code, with one deviation[48] - This year, Mr. Du Lindong held both the positions of Chairman and Chief Executive Officer, deviating from Code Provision C.2.1 which requires the roles of Chairman and Chief Executive Officer to be separate[48] - Following the change in Board Chairman effective June 30, 2025, Mr. Liu Xiaodong was appointed to succeed Mr. Du Lindong as Chairman, and the Company has since complied with Code Provision C.2.1 of the Corporate Governance Code[48] Directors' Securities Transactions The Company has adopted the Model Code for Securities Transactions by Directors of Listed Issuers set out in Appendix C3 of the Listing Rules, and all directors fully complied with it during the year - The Company has adopted the Model Code for Securities Transactions by Directors of Listed Issuers as set out in Appendix C3 of the Listing Rules[49] - Following specific enquiries by the Company, all Directors confirmed that they had fully complied with the Model Code throughout the year[49] Auditor's Scope of Work The financial data in this preliminary results announcement has been agreed by the auditor, Rongcheng (Hong Kong) CPA Firm, but their work does not constitute assurance services - The figures in the consolidated statement of financial position, consolidated statement of profit or loss and other comprehensive income, and their related notes for the Group for the year ended June 30, 2025, as set out in this preliminary results announcement, have been agreed by the Group's auditor, Rongcheng (Hong Kong) CPA Firm[50] - The work performed by the auditor in this regard does not constitute an assurance engagement in accordance with Hong Kong Standards on Auditing, Hong Kong Standards on Review Engagements, or Hong Kong Standards on Assurance Engagements issued by the HKICPA, and therefore the auditor has not expressed any assurance conclusion on this preliminary results announcement[50] Publication of Annual Results on Website This results announcement has been published on the Company's and the Stock Exchange's websites, and the annual report will be dispatched to shareholders and published on the websites as soon as practicable - This results announcement is published on the Company's website (http://www.irasia.com/listco/hk/cfii) and the Stock Exchange's website (www.hkex.com.hk)[51](index=51&type=chunk) - The annual report will be dispatched to shareholders and published on the aforementioned websites as soon as practicable[51] Board Information This announcement is signed by Mr. Du Lindong, Executive Director and Chief Executive Officer, on behalf of the Board, and lists the Board members as of the announcement date - This announcement is signed by Mr. Du Lindong, Executive Director and Chief Executive Officer of China Financial International Investments Limited, by order of the Board[52] - As of the date of this announcement, the executive director is Mr. Du Lindong; the non-executive directors are Mr. Liu Xiaodong and Ms. Li Hongxi; and the independent non-executive directors are Mr. Zong Shijian, Mr. Lu Lin, and Mr. Liu Xiaohong[53]