Financial Performance - The total revenue for the year 2023 was HKD 312,875,000, a decrease of 8.5% compared to HKD 342,183,000 in 2022[3] - The operating loss for 2023 was HKD 62,301,000, improved from a loss of HKD 97,247,000 in 2022[3] - The net financial income for 2023 increased to HKD 68,269,000, compared to HKD 32,853,000 in 2022, reflecting a significant improvement[3] - The loss attributable to shareholders for 2023 was HKD 9,869,000, a substantial reduction from HKD 59,387,000 in 2022, indicating a positive trend[3] - The basic and diluted loss per share for 2023 was HKD 0.65, improved from HKD 3.58 in 2022[3] - The company reported a net loss of HKD 555,000 in 2023 compared to a net loss of HKD 30,594,000 in 2022, indicating a significant improvement in performance[36] - The company reported a total tax expense of HKD 15,837,000 in 2023, compared to a tax credit of HKD 5,007,000 in 2022, indicating a shift from a tax benefit to a tax expense[38] - The company did not declare a final dividend for the year ending December 31, 2023, consistent with the previous year[46] - For the fiscal year ending December 31, 2023, the company reported a net loss attributable to shareholders of approximately HKD 11,000,000, a decrease of 80% compared to a net loss of HKD 56,000,000 in 2022[60] - The basic loss per share for 2023 was HKD 0.65, down from HKD 3.58 in 2022, reflecting an 81% reduction[60] Assets and Liabilities - Total non-current assets decreased to HKD 1,276,562,000 in 2023 from HKD 1,320,228,000 in 2022[13] - Current assets totaled HKD 4,340,220,000 in 2023, down from HKD 4,580,561,000 in 2022[13] - Total liabilities decreased to HKD 3,051,415,000 in 2023 from HKD 3,362,043,000 in 2022, indicating improved financial health[13] - The net asset value for 2023 was HKD 2,431,686,000, slightly up from HKD 2,379,470,000 in 2022[14] - The total assets as of 2023 amounted to HKD 5,616,782,000, slightly down from HKD 5,900,789,000 in 2022[40] - The total liabilities decreased to HKD 2,853,093,000 in 2023 from HKD 3,150,436,000 in 2022, indicating a reduction of approximately 9.4%[51] Revenue Segments - The financial services segment reported a revenue of HKD 156,780,000, down from HKD 183,501,000 in 2022, indicating a decrease of about 14.6%[42] - The property development segment experienced a loss of HKD 18,069,000, compared to a loss of HKD 19,809,000 in 2022, showing an improvement[42] - The company’s revenue from the sale of investment properties was HKD 5,000 in 2023, compared to a loss of HKD 129,000 in 2022, showing a recovery in this segment[36] - Property sales revenue increased by 78% in 2023 compared to 2022, mainly driven by contributions from the Huangshan project[75] Operational Efficiency - The company incurred a depreciation expense of HKD 40,432,000 in 2023, down from HKD 43,085,000 in 2022, reflecting a decrease of approximately 6%[36] - The company’s employee costs amounted to HKD 203,051,000 in 2023, slightly down from HKD 209,701,000 in 2022, reflecting a decrease of about 3%[36] - The company plans to focus on strict cost control and prudent risk management to navigate uncertainties in the recovery path[77] - The company launched its first fixed income fund in April 2023 and aims to further develop its financial services business[77] - The company is committed to enhancing digitalization and automation in financial services to improve customer experience and operational efficiency[77] Market Environment - The Hang Seng Index fell by 14% in 2023, closing at 17,047 points, reflecting a challenging market environment[65] - The company anticipates a cautious optimism for the economic outlook in 2024, with expected growth in Hong Kong's economy gradually returning to pre-pandemic levels[71] - The company noted that the hospitality and property sectors faced various uncertainties, but there was a moderate recovery due to the easing of pandemic-related restrictions[72] Other Information - The company is engaged in various sectors including securities investment, corporate finance, and property development, indicating a diversified business model[16] - The company has not adopted any new accounting standards that have not yet come into effect, and the impact of new standards is still being assessed[27] - The company has not engaged in any significant acquisitions or disposals during the year[85] - The board of directors currently consists of four executive directors and one non-executive director, along with five independent non-executive directors[99] - Detailed performance announcements are available on the Hong Kong Stock Exchange website[98]

Financial Performance - The company's total revenue for the first half of 2023 was approximately HKD 157,000,000, representing a 10% decrease compared to the same period in 2022[35]. - For the six months ended June 30, 2023, the company recorded a net loss attributable to shareholders of approximately HKD 2,000,000, a 94% decrease compared to a net loss of approximately HKD 33,000,000 in the same period of 2022[32]. - The financial services division reported an operating profit decrease of 58% compared to the same period in 2022, primarily due to a reduction in brokerage and underwriting income[37]. - The operating loss for the six months ended June 30, 2023, was HKD 25,858,000, an improvement from an operating loss of HKD 36,082,000 in the same period of 2022[66]. - The company reported a total comprehensive loss of HKD 26,916,000 for the six months ended June 30, 2023, compared to a total comprehensive loss of HKD 111,690,000 in the same period of 2022[74]. Revenue Breakdown - Revenue from property development increased by 71% compared to the same period in 2022, attributed to increased sales following the easing of pandemic control measures[38]. - The hotel and golf course business experienced an 11% decrease in revenue compared to the same period in 2022, mainly due to temporary closure for renovations of a hotel in Paris[40]. - Total revenue for the group was HKD 175,337,000, with financial services contributing HKD 93,536,000 and property investment and hotel operations contributing HKD 61,373,000[89]. Assets and Liabilities - The company's total net asset value decreased by 1% from approximately HKD 2,380,000,000 as of December 31, 2022, to approximately HKD 2,352,000,000[35]. - Total non-current assets decreased to HKD 1,266,674,000 as of June 30, 2023, from HKD 1,320,228,000 as of December 31, 2022, representing a decline of approximately 4.1%[49]. - Current assets totaled HKD 4,353,807,000 as of June 30, 2023, down from HKD 4,580,523,000 as of December 31, 2022, indicating a decrease of about 4.9%[49]. - Total liabilities decreased to HKD 3,132,881,000 as of June 30, 2023, from HKD 3,362,043,000 as of December 31, 2022, a reduction of approximately 6.8%[49]. - The company's equity totaled HKD 2,352,954,000 as of June 30, 2023, slightly down from HKD 2,380,013,000 as of December 31, 2022, representing a decrease of about 1.1%[50]. Cash Flow and Financing - Net cash generated from operating activities was HKD 5,552,000 for the six months ended June 30, 2023, significantly lower than HKD 24,242,000 for the same period in 2022, reflecting a decline of approximately 77%[52]. - The net cash used in financing activities was HKD 34,734,000 for the six months ended June 30, 2023, compared to HKD 73,494,000 for the same period in 2022, indicating a reduction of approximately 52.8%[52]. - The company raised secured and unsecured bank loans amounting to approximately HKD 176 million and HKD 45 million, respectively[15]. - The company's cash reserves increased to approximately HKD 263 million, up from HKD 253 million as of December 31, 2022[15]. Employee and Operational Metrics - The total employee cost for the six months ended June 30, 2023, was approximately HKD 95,000,000, a decrease from HKD 107,000,000 in the same period of 2022[65]. - The company employed 568 staff as of June 30, 2023, an increase from 556 staff as of June 30, 2022[65]. - The company aims to enhance employee performance through competitive compensation and benefits, alongside training programs to improve professional knowledge and skills[65]. Strategic Initiatives - The company plans to continue its digital transformation in financial services to enhance customer experience and operational efficiency[9]. - The company launched a fixed income fund in April 2023 and aims to further develop its fund management business[12]. - The company plans to implement a proposed public offering to improve its financial position, pending shareholder approval[41]. Risk Management and Governance - The overall economic environment remains challenging due to high interest rates and geopolitical tensions, impacting the company's recovery path[34]. - The company continues to focus on risk mitigation strategies to navigate the volatile business environment[34]. - The company maintains a strong governance structure, with the Chairman and CEO roles held by the same individual, Mr. Lao Yuan Yi, to ensure effective leadership[195]. - The company has not made any changes to its risk management policies since the year-end[182].

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的內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部 或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 第一上海投資有限公司 （於香港註冊成立之有限公司） （股份代號：227） 截至二零二三年六月三十日止六個月之 未經審計中期業績公告 業績 第一上海投資有限公司（「本公司」）董事會（「董事會」）謹此提呈本公司及其附屬公 司（統稱為「本集團」）截至二零二三年六月三十日止六個月之未經審計綜合業績連 同去年同期之比較數字如下： 簡明綜合損益表 未經審計 截至六月三十日止六個月 二零二三年 二零二二年 附註 港幣千元 港幣千元 營業額 4 157,072 175,337 銷售成本 (52,438) (76,399) 毛利 104,634 98,938 其他（虧損）╱收益淨額 5 (3,339) 6,541 銷售、一般及行政費用 (127,153) (141,561) 營運虧損 4及6 (25,858) (36,082) 財務收入 47,221 10,761 ...

Financial Performance - For the year ended December 31, 2022, the company recorded a net loss attributable to shareholders of approximately HKD 56 million, a 60% decrease compared to a net loss of HKD 140 million in 2021[7]. - Basic loss per share for 2022 was HKD 3.55, down 63% from HKD 9.61 in 2021[7]. - The company's revenue for the year was approximately HKD 342 million, representing a 35% decrease compared to the previous year[18]. - The financial services division experienced a significant operating profit decline of 70% year-on-year, primarily due to a drop in brokerage income and interest income from margin financing and IPO loans[19]. - The property and hotel division recorded an operating loss of HKD 77 million, a 14% decrease from the previous year[21]. - The company reported a total comprehensive loss of HKD 179,566 thousand for the year 2022, compared to a total comprehensive loss of HKD 162,319 thousand in 2021[166]. - The operating loss increased to HKD 96,666,000 from HKD 75,855,000, indicating a worsening of 27.4% year-over-year[154]. - The net loss attributable to shareholders was HKD 55,501,000, compared to HKD 139,899,000 in the previous year, representing a 60.3% improvement[154]. Economic Outlook - The outlook for the global economy is cautiously optimistic, with expectations of gradual improvement in global supply chains and economic activity returning to pre-pandemic levels[11]. - The company anticipates the implementation of more accommodative monetary policies and stronger fiscal stimulus measures in mainland China post-pandemic[11]. - The Hong Kong economy showed signs of gradual recovery in the fourth quarter of 2022, despite earlier impacts from rising interest rates and COVID-19 measures[6]. - The overall market sentiment improved following the easing of pandemic-related restrictions, although uncertainties remain due to geopolitical tensions and inflationary pressures[11]. Operational Changes - The company decided to terminate operations of its medical center and sell most medical equipment to focus resources on more profitable business segments[10]. - The company plans to maintain its investment in a children's dental center as a long-term investment to provide dental care services[10]. - The company plans to continue focusing on completing existing property developments and sales in Wuxi and Huangshan in the coming year[24]. - The group has focused its internal resources on financial services, resulting in no new direct investment projects in 2022[25]. Governance and Management - The company’s senior management includes experienced professionals with backgrounds in finance and investment, enhancing its operational capabilities[41]. - The company has maintained a consistent governance structure with independent non-executive directors overseeing its operations[43]. - The board consists of four executive directors and five non-executive directors, with four of the non-executive directors being independent, representing over one-third of the board members[84]. - The company has adopted a board diversity policy, with the current board composition being one female and eight male directors, achieving a gender diversity ratio of approximately 53% female to 47% male among employees[89]. - The company has established three specialized committees: the Nomination Committee, the Remuneration Committee, and the Audit Committee, to assist the board in fulfilling its responsibilities effectively[97]. Financial Position - The total assets decreased to HKD 5,900,751,000 from HKD 7,112,874,000 in 2021, reflecting a decline of approximately 17%[77]. - The current liabilities totaled HKD 3,362,043,000, down from HKD 4,357,863,000 in 2021, indicating a reduction of about 23%[77]. - The total equity stood at HKD 2,380,013,000, a decrease from HKD 2,558,791,000 in 2021, representing a decline of approximately 7%[77]. - The company reported a distributable reserve of HKD 137,426,000 as of December 31, 2022, down from HKD 330,281,000 in 2021, representing a decrease of approximately 58.4%[50]. Shareholder Engagement - The annual general meeting was held on May 27, 2022, providing a platform for direct communication between the board and shareholders[117]. - Shareholders holding at least 5% of voting rights can request a special general meeting, ensuring their concerns are addressed[118]. - The company has established a policy for timely and transparent communication with shareholders, which is published on its website[115]. - Shareholders can submit inquiries to the board through the company secretary, ensuring their concerns are communicated effectively[122]. Risk Management and Internal Controls - The company is focused on improving internal controls and financial reporting processes as part of its governance strategy[146]. - The Risk Management Committee was established in 2016 to oversee the design, implementation, and evaluation of the risk management framework[108]. - The company engaged external consultants to review the effectiveness of its internal control system during the reporting year[111]. - The Audit Committee confirmed that the internal control system is effective and adequately resourced[111]. Financial Reporting Standards - The financial statements are prepared in accordance with Hong Kong Financial Reporting Standards and the Companies Ordinance[171]. - The group adopted several new and revised standards effective from January 1, 2022, including HKFRS 3 and HKAS 16[173]. - The group is currently assessing the impact of new standards that will take effect in 2023 and 2024, including HKFRS 17 and HKAS 1[175].

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文件的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本文件全部或任 何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 （於香港註冊成立之有限公司） （股份代號：227） 二零二二年度全年業績公告 業績 第一上海投資有限公司（「本公司」）董事會（「董事會」）謹此公告本公司連同其附 屬公司（統稱為「本集團」）截至二零二二年十二月三十一日止年度之綜合業績如下： 綜合損益表 附註 二零二二年 二零二一年 港幣千元 港幣千元 營業額 3 342,183 529,850 銷售成本 (131,848) (226,385) 毛利 210,335 303,465 其他（虧損）╱收益淨額 4 (30,594) 10,990 銷售、一般及行政費用 (276,407) (390,310) 營運虧損 5 (96,666) (75,855) 財務收入 48,142 17,696 ...

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