Financial Performance - The company recorded revenue of approximately HKD 227,000,000 for the year, an increase from HKD 173,000,000 in 2022, primarily due to increased dividend income from listed equity securities[7]. - Other income amounted to HKD 185,000,000, compared to zero in 2022, indicating a significant growth in revenue streams[7]. - The net loss attributable to owners was approximately HKD 7,361,000, an improvement from a loss of HKD 11,798,000 in the previous year, with basic loss per share decreasing from HKD 0.049 to HKD 0.030[7]. - The company's administrative and other operating expenses were approximately HKD 8,348,000, slightly up from HKD 8,213,000 in 2022[7]. - The fair value change of financial assets recorded a net gain of approximately HKD 661,000, compared to a loss of HKD 3,457,000 in the previous year, reflecting improved market conditions[7]. - Core Economy Investment Group reported a loss of approximately HKD 24.82 million for the first half of 2023, primarily due to unrealized losses on financial assets of about HKD 21.02 million[15]. - The company's unrealized losses on listed securities amounted to approximately HKD 18.63 million in H1 2023, compared to HKD 9.47 million in 2022[15]. - For the year ended December 31, 2023, the company's revenue was HKD 6,485,703, a decrease of 58.8% compared to HKD 15,724,250 in 2022[62]. - The company reported a pre-tax loss of HKD 7,360,719 for the year, improving from a loss of HKD 11,797,983 in the previous year[62]. - Total assets as of December 31, 2023, were HKD 14,000,981, slightly down from HKD 14,026,059 in 2022[63]. - Total liabilities increased to HKD 6,691,031 in 2023 from HKD 6,375,375 in 2022[63]. - The company's total equity decreased to HKD 7,309,950 in 2023 from HKD 7,650,684 in 2022[63]. - The company did not recommend any dividend for the year ended December 31, 2023, consistent with the previous year[60]. Investment Strategy - The company plans to maintain a prudent investment strategy while actively managing its portfolio to navigate market volatility and industry changes[10]. - The company’s investment strategy focuses on diversifying investments in listed and unlisted securities with profit potential, primarily in Hong Kong and China[53]. - The company plans to adopt a prudent approach to identify and assess investment opportunities while actively seeking long-term prospects to enhance its investment portfolio[15]. - The company has no plans for significant investments or capital assets as of the report date, but will consider future investment opportunities[38]. Market Conditions - The Hang Seng Index (HSI) and Hang Seng China Enterprises Index (HSCEI) fell by 13.8% and 14.0% respectively in 2023, indicating a challenging market environment[8]. - Tencent reported a 30% increase in international gaming revenue and a 23% growth in gross profit, highlighting strong performance in its sector[13]. - Alibaba's net income for the quarter ending December 31, 2023, was approximately RMB 10,717 million, a decrease of 77% from the same quarter in 2022, primarily due to asset impairments[12]. Shareholder Information - The company raised approximately HKD 7.13 million through a share placement, with a net amount of about HKD 7.02 million allocated for future investments and general operating funds[23][24]. - The share placement involved issuing 47,520,000 new shares at a price of HKD 0.15 per share, representing a discount of approximately 14.77% to the market price on the placement date[23][24]. - The company has confirmed that it possesses sufficient public float exceeding 25% of the issued share capital as per listing rules[99]. - The company has not engaged in any significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the reporting period[37]. - The company has not disclosed significant customer or supplier information as its revenue is primarily derived from investments in listed equity securities[57]. Corporate Governance - The board consists of two executive directors, three non-executive directors, and three independent non-executive directors, ensuring over one-third of the board members are independent[106]. - The board is responsible for managing the overall investment strategy and policies of the group, ensuring alignment with the company's investment objectives[107]. - The company has established mechanisms to ensure the independence of the board, including the appointment of at least three independent non-executive directors[111]. - The company has maintained compliance with relevant laws and regulations, with no significant violations reported for the year[55]. - The company has adopted a whistleblowing policy to enhance internal fairness and has not received any reported cases of misconduct for the year ended December 31, 2023[150]. - The company has appointed Yang Zhicheng as a non-executive director and vice chairman of the board effective October 19, 2023[75]. Employee Information - As of December 31, 2023, the total employee cost amounted to HKD 4,918,646, a slight decrease from HKD 4,980,000 in 2022[31]. - The total number of employees remains stable at 12 as of December 31, 2023, unchanged from the previous year[31]. - Approximately 88% of the board members and 75% of total employees are male, indicating a focus on gender diversity initiatives[146]. Environmental, Social, and Governance (ESG) - The company is committed to maintaining effective environmental, social, and governance (ESG) risk management practices[145]. - The board of directors is responsible for overseeing the company's ESG management policies, strategies, goals, risks, and opportunities[188]. - The company emphasizes the importance of a robust environmental, social, and governance (ESG) framework for sustainability and development[183]. - The company has established a risk-based management approach to assess and prioritize ESG-related issues, integrating them into ongoing risk management[190]. - The company aims to set appropriate and feasible ESG-related goals and indicators, monitoring their progress regularly[191]. - The company has committed to ensuring the report's accuracy, completeness, and reliability, with no false information or significant omissions[184]. - The company prioritizes sustainable development issues, focusing on investment and employee treatment and benefits, as well as occupational health and safety[198]. Audit and Compliance - The consolidated financial statements for the year ended December 31, 2023, were audited by Li Hsin Hui CPA Limited[103]. - The audit committee reviewed the integrity of the group's interim and annual consolidated financial statements for the year ended December 31, 2023[135]. - The external auditor's fees for audit services amounted to HKD 230,000, while non-audit services fees totaled HKD 70,000, including HKD 50,000 for the review of the interim report and HKD 20,000 for tax compliance services[154]. - The internal audit report indicated no significant deficiencies were found during the review of the internal control system[156]. - The board believes that the existing internal control system is sufficient and effective in safeguarding the company's assets and preventing violations[160].
核心经济投资(00339) - 2023 - 年度财报