Financial Performance - The Company reported a reduced loss attributable to shareholders of approximately US$4.48 million, primarily due to operating and R&D expenses of approximately US$4.99 million[2]. - The Group recorded a reduced loss attributable to shareholders of approximately US$4.48 million in 2024, down from US$25.05 million in 2023[15][34]. - Total revenue for 2024 was US$656,000, compared to a loss of US$539,000 in 2023, indicating a significant improvement[34]. - The operating loss after impairment losses and provisions for 2024 was US$4.34 million, a decrease from US$30.38 million in 2023[34]. - Revenue for the year ended December 31, 2024, increased to US$0.72 million, a 148.28% increase from US$0.29 million in 2023[191]. - Other income rose to US$0.08 million, reflecting a 166.67% increase from US$0.03 million in the previous year[191]. - Total loss attributable to shareholders decreased to US$4.48 million for the year ended December 31, 2024, an 82.12% reduction from US$25.05 million in 2023[191]. - Capital deficiency increased to approximately US$5.90 million as of December 31, 2024, up from approximately US$1.55 million as of December 31, 2023[194]. - The Group recorded no amortization of intangible assets for the year ended December 31, 2024, compared to US$22.18 million in 2023[198]. - The Group's income tax credit for the year ended December 31, 2024, was approximately US$26,000, a 99.45% decrease from US$5.42 million in 2023[198]. Product Development and Market Strategy - Wanbang Biopharmaceutical submitted the NDA to NMPA at the end of 2024, with approval expected within 12 months, and upon approval, the Group expects to receive US$5 million and an additional US$2 million upon first commercial sale of Senstend™ in China[2][7]. - The manufacturing and supply agreement was signed between Wanbang Biopharmaceutical, Genetic S.p.A., and Plethora Solutions Limited for the production of Senstend™ for the PRC market[2]. - The rights to Fortacin™ were out-licensed to Kobayashi Pharmaceutical Co., Ltd. for the Japanese market[2][7]. - The Company has completed the evaluation of two proposals for Phase 3 clinical studies of Fortacin™ in the US[2]. - The potential market for Senstend™ in China is approximately 9 million patients in its first year, growing to over 170 million patients by its tenth year[8]. - The Company is focused on the successful commercialization of Fortacin™/Senstend™ in key markets including China, the US, and Japan[4][5]. - The Company aims to commercialize its deep learning aging clock technology and partner with clinics and insurance companies[4][5]. - Deep Longevity is integrating its AI-led deep learning technology to build and commercialize various aging clocks[6]. - The Group aims to improve its financial performance and reduce losses in the upcoming fiscal year, as indicated by the significant decrease in losses reported[189]. Financial Position and Assets - Total assets decreased from US$80,310,000 in 2020 to US$610,000 in 2024, representing a decline of approximately 99.24%[37]. - Current liabilities increased significantly from US$9,105,000 in 2020 to US$5,649,000 in 2024, indicating a rise of about 62.5%[37]. - The Group's net liabilities reached US$5,901,000 in 2024, compared to net assets of US$50,305,000 in 2020, marking a substantial shift in financial position[37]. - The Group's current assets dropped from US$12,790,000 in 2021 to US$601,000 in 2024, a decrease of approximately 95.3%[37]. - The Group's intangible assets were fully impaired, decreasing from US$72,418,000 in 2020 to zero in 2024[37]. Corporate Governance and Compliance - The Group has complied with relevant laws and regulations that significantly impact its operations, ensuring adherence to applicable standards[42]. - The Group's financial risk management objectives and policies are detailed in the consolidated financial statements, indicating a structured approach to managing financial uncertainties[38]. - The company has applied all principles of the Corporate Governance Code and complied with applicable provisions during the year ended December 31, 2024[100]. - All directors have confirmed compliance with the Securities Dealing Code and the Model Code during the year ended December 31, 2024[99]. - The company has a strong governance structure with experienced professionals in key management positions, including a Chartered Secretary and a Chartered Governance Professional[188]. Share Options and Capital Structure - As of December 31, 2024, the total issued ordinary share capital consisted of 228,438,619 shares, unchanged from the previous year[55]. - The Share Option Scheme (2016) allows for 2,456,532 options available for grant as of December 31, 2024[64]. - No options were granted or exercised during the year ended December 31, 2024[65]. - The total number of options vested/unvested as of December 31, 2024, was 6,229,723[68]. - The company has not experienced any lapsing or cancellation of options during the year ended December 31, 2024[87]. - As of December 31, 2024, the company's distributable reserves amounted to approximately US$294 million, unchanged from 2023[88]. Leadership and Management - Jamie Alexander Gibson has been the CEO since May 2002, focusing on corporate finance and emerging market investment products[172]. - Jayne Allison Sutcliffe co-founded the Group in 1990 and has extensive experience in fund management, previously serving as Group Chief Executive of Charlemagne Capital Limited[175]. - Stawell Mark Searle has over 30 years of experience in investment management and has been an Independent Non-Executive Director since October 2001[175]. - Adrian Alan Chan has over 25 years of experience in accounting and financial management, serving as CFO for multiple companies including Enviro Energy International Holdings Limited[176][179]. - The management team includes experienced professionals such as Paul Eric Jones, who has over 30 years in the energy industry and corporate finance, and Michael Grant Wyllie, who has over 30 years in the pharmaceutical industry[185]. - The leadership team includes directors with diverse backgrounds in finance, law, and investment management, enhancing strategic decision-making[176][179]. Auditor and Financial Reporting - The Company has appointed RSM Hong Kong as the new auditor effective from June 21, 2023, following the resignation of BDO Limited[158]. - The company announced the resignation of RSM as the external auditor effective from July 16, 2024, due to a disagreement on the audit fee for the financial year ending December 31, 2024[162]. - Baker Tilly Hong Kong Limited was appointed as the new auditor effective from July 16, 2024, to fill the vacancy left by RSM, with a term until the next annual general meeting tentatively scheduled for June 2025[163]. - The consolidated financial statements for the year ended December 31, 2024, have been audited by Baker Tilly, which has expressed its willingness to continue in office and will seek re-appointment at the 2025 AGM[164]. - The Audit Committee reviewed RSM's audit fee proposal and deemed it inappropriate considering the current operational scale of the group and prevailing market rates[162].

Financial Performance - The company's loss attributable to shareholders significantly decreased to approximately $4,480,000, primarily due to operational and R&D expenses of about $4,990,000[2]. - Revenue for the year ended December 31, 2024, was $719,291,000, compared to $291,000,000 in 2023, representing a significant increase[12]. - Operating loss decreased to $4,337,000 in 2024 from $27,713,000 in 2023, indicating improved operational efficiency[12]. - Net loss for the year was $4,482,000, a reduction from $25,049,000 in the previous year, reflecting better financial performance[13]. - Basic and diluted loss per share improved to $(1.96) in 2024 from $(11.13) in 2023, suggesting a positive trend in shareholder value[13]. - The group reported a loss of approximately $4,482,000 for the year ending December 31, 2024[29]. - The company reported a pre-tax loss of $4,508,000 for the year 2024, compared to a pre-tax loss of $30,463,000 in 2023[42]. - The company reported a significant reduction in loss attributable to shareholders, amounting to approximately $4.48 million for the year ended December 31, 2024, compared to $25.05 million for the year ended December 31, 2023, representing an 82.12% decrease[56]. - Revenue increased by 148.28% to $0.72 million in 2024 from $0.29 million in 2023[58]. - Other income rose by 166.67% to $0.08 million in 2024 from $0.03 million in 2023[58]. Research and Development - Research and development expenses were reduced to $938,000 in 2024 from $1,379,000 in 2023, showing a focus on cost management[12]. - The company is engaged in investments in biopharmaceutical companies and other corporate investments, indicating a strategic focus on growth sectors[16]. - Jiangsu Wanbang Pharmaceutical submitted a new drug application to the National Medical Products Administration, with expectations for approval within 12 months, potentially generating $5,000,000 (pre-tax) upon receiving the import license for Senstend™[2][4]. - The company has licensed Fortacin™ to Kobayashi Pharmaceutical Co., Ltd. for the Japanese market and is finalizing the budget for Phase III clinical trials in the U.S.[4][5]. - The group is in discussions with two well-known clinical research organizations regarding the third-phase clinical study of Fortacin™ in the U.S.[64]. - The company expects to recognize approximately $52,000 in revenue from remaining performance obligations under existing contracts within the next year, up from $10,000 in 2023[45]. Operational Efficiency and Strategy - The company aims to enhance operational efficiency and continue its commitment to sustainable development practices[11]. - Future strategic focuses include seeking commercial partnerships for licensing Fortacin™ rights in the U.S. and supporting Jiangsu Wanbang in the commercialization of new drug applications[11]. - The overall business performance in 2024 is viewed positively, reflecting the team's hard work and commitment to sustainable growth[8][9]. - The company maintains a cautiously optimistic outlook for the upcoming year while remaining vigilant about geopolitical and macroeconomic uncertainties[9]. - The group is implementing operational plans to control costs and generate sufficient operating cash flow to meet current and future obligations[31]. Financial Position and Liabilities - Total current assets decreased to $601,000 in 2024 from $2,785,000 in 2023, indicating a potential liquidity concern[14]. - Total liabilities increased to $5,901,000 in 2024 from $1,551,000 in 2023, highlighting a rise in financial obligations[15]. - The company's current liabilities and total liabilities were approximately $5,048,000 and $5,901,000, respectively, as of December 31, 2024[102]. - The company’s capital deficit increased from approximately $1.55 million as of December 31, 2023, to approximately $5.90 million as of December 31, 2024, primarily due to the loss attributable to shareholders[59]. - There is significant uncertainty regarding the group's ability to continue as a going concern, depending on the success of its plans and measures[32]. Shareholder and Corporate Governance - The company did not declare or recommend any dividends for the year ended December 31, 2024, consistent with 2023[51]. - The board has resolved not to declare a final dividend for the year ending December 31, 2024, consistent with the previous year[94]. - The company has adhered to the corporate governance code throughout the fiscal year ending December 31, 2024[95]. - The board and senior management are actively involved in strategic planning, focusing on long-term value creation and short-term priorities[75]. - The company is committed to returning shareholder value through value-accretive acquisitions and effective dividend policies[77]. Auditor and Compliance - The independent auditor, Tianzhi, confirmed that the financial statements for the year ending December 31, 2024, were prepared in accordance with Hong Kong Financial Reporting Standards[101]. - The board appointed Tianzhi as the new auditor effective July 16, 2024, following the resignation of Roshan Mei due to disagreements over audit fees[97]. - Roshan Mei resigned as the auditor effective July 16, 2024, after failing to reach an agreement on audit fees for the year ending December 31, 2024[97]. - The annual report for the year ending December 31, 2024, will be available by the end of April 2025[103]. Market Potential and Growth - Senstend™ is projected to initially target around 9 million patients in China, with potential growth to over 170 million patients by the tenth year[6]. - The market for aging solutions, driven by Deep Longevity's AI technology, is valued at over $6 trillion, indicating significant growth potential[6]. - The company continues to have confidence in Deep Longevity, which is a pioneer in its field, utilizing machine learning through the SenoClock® SaaS platform to determine biological age and provide longevity recommendations[73]. - The company is optimistic about its business outlook for 2025, with plans to submit a new drug application to the National Medical Products Administration and assist Jiangsu Wanbang Pharmaceutical in commercializing Senstend™ in China, which is expected to generate a significant milestone payment of $7,000,000[72].

REGENT PACIFIC GROUP LIMITED 勵 晶 太 平 洋 集 團 有 限 公 司 (Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立之有限公司) Stock Code 股份代號 : 575 | --- | --- | --- | --- | --- | --- | |-------|-------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | CONTENTS CONTENTS 目 錄 | --- | --- | |------------------------------------------------------------------------------------|---------------------------------| | | | | Performance Overview | 業績概覽 | | Management's Discussion and Analysi ...

Financial Performance - The company reported a loss attributable to shareholders of approximately $2,620,000 for the six months ended June 30, 2024, primarily due to operational and R&D expenses of about $2,610,000[1]. - Capital loss recorded by the group was approximately $4,070,000, mainly driven by the loss attributable to shareholders[1]. - Revenue for the six months ended June 30, 2024, was $123,000, a decrease of 29% compared to $173,000 in the same period of 2023[4]. - Operating loss for the period was $2,557,000, significantly improved from an operating loss of $15,063,000 in the previous year[4]. - The company reported a total comprehensive loss of $2,609,000 for the period, compared to $12,134,000 in the same period of 2023[5]. - The company reported a net loss attributable to shareholders of $(2,621,000) for the six months ended June 30, 2024, compared to $(12,199,000) for the same period in 2023[26]. - The basic loss per share for the six months ended June 30, 2024, was $(1.148), compared to $(5.501) for the same period in 2023[26]. - For the six months ended June 30, 2024, the company reported a significant reduction in loss attributable to shareholders to approximately $2.62 million, compared to $12.20 million for the same period in 2023, representing a decrease of 78.52%[33]. - Total revenue for the six months ended June 30, 2024, was $0.12 million, a decrease of 29.41% from $0.17 million in the same period of 2023[33]. - The company recorded an operating loss of approximately $2.56 million for the six months ended June 30, 2024, compared to an operating loss of $30.38 million for the same period in 2023[33]. Assets and Liabilities - The net cash and bank balances decreased to $280,000 from $2,097,000 as of December 31, 2023[6]. - As of June 30, 2024, the company's current liabilities and total liabilities were approximately $2,830,000 and $4,074,000, respectively[10]. - The company’s net asset value per share was reported at -$1.78, compared to -$0.68 in the previous year[8]. - The company’s capital deficit increased from approximately $1.55 million as of December 31, 2023, to approximately $4.07 million as of June 30, 2024, primarily due to the loss attributable to shareholders[35]. - The company’s total liabilities include approximately $3.16 million in trade payables and other payables, and approximately $970,000 in lease liabilities[35]. - Trade payables amounted to $13,000 as of June 30, 2024, compared to $102,000 as of December 31, 2023[28]. - The total liabilities, including lease liabilities, were $4,346,000 as of December 31, 2023[18]. - The total assets classified as held for sale amounted to $2,794,000 as of December 31, 2023[18]. Revenue Generation - Revenue from patent licensing was $80,000, a slight decrease from $82,000 in the previous year[13]. - The company generated $123,000 in revenue from external customers in the biopharmaceutical segment for the six months ended June 30, 2024[15]. - Revenue from external customers in the biopharmaceutical segment was $173,000 for the six months ended June 30, 2023[17]. Research and Development - Fortacin™ is undergoing evaluation for a Phase III clinical study in the U.S. with two renowned clinical research institutions[2]. - The company has licensed Fortacin™ to Kobayashi Pharmaceutical Co., Ltd. in Japan and signed a manufacturing and supply agreement with Genetic S.p.A. for Senstend™ in China[2]. - Research and development expenses related to the Fortacin™ approval process in the U.S. amounted to approximately £144,000 (or about $183,000) for the six months ended June 30, 2024[36]. - The company anticipates submitting a new drug application for Senstend™ to the National Medical Products Administration in China by the end of 2024, with a potential payment of $5,000,000 upon approval[1]. Future Plans and Outlook - The company plans to implement cost control measures and timely collection of receivables to improve cash flow[11]. - The company is considering fundraising arrangements to meet its funding needs[11]. - There is significant uncertainty regarding the company's ability to continue as a going concern, dependent on successful loan extraction and fundraising efforts[11]. - The company maintains an optimistic outlook for the second half of 2024, focusing on submitting a new drug application for Senstend™ in China and starting Phase III studies in the U.S.[49]. Corporate Governance and Management - The company has adhered to corporate governance codes and maintains high standards of corporate governance[60]. - The company has appointed a new auditor, Lo & Co., effective June 21, 2023, following the resignation of its previous auditor[63]. - The company appointed RSM Hong Kong as the new auditor effective from June 21, 2023, to fill the vacancy left by the resignation of Hong Kong Lee & Associates[64]. - The company has a total of 17 employees and 2 consultants as of June 30, 2024, down from 20 employees and 1 consultant six months prior[59]. Dividends and Securities - The company did not declare or pay any interim dividends for the six months ended June 30, 2024[24]. - The company has not repurchased, sold, or redeemed any of its listed securities during the six months ending June 30, 2024[65]. - The company has not declared an interim dividend for the six months ending June 30, 2024[48]. Strategic Partnerships and Agreements - The company has established a manufacturing and supply agreement with Jiangsu Wanbang Pharmaceutical for the production and supply of Senstend™ in China, with an initial term of five years[31]. - Jiangsu Wanbang Pharmaceutical will pay the company $5 million upon receiving import approval for Senstend™ and an additional $2 million after the first commercial sale in China[37]. - The company anticipates milestone payments of up to $25 million based on net sales achieved by Jiangsu Wanbang Pharmaceutical[38]. - The company has licensed Fortacin™ to Kobayashi Pharmaceutical Co., Ltd. in Japan, receiving a signing fee of $500,000[41]. Risk Management - The company emphasizes the importance of risk management related to its interests in Plethora and Deep Longevity[54]. - The capital debt ratio is considered meaningless due to capital losses as of June 30, 2024[53]. - There are no significant contingent liabilities as of June 30, 2024[55]. Other Information - The interim report for the six months ending June 30, 2024, will be available by the end of September 2024[67]. - The company did not make any significant acquisitions or disposals of subsidiaries in the six months ending June 30, 2024[57]. - Deep Longevity plans to launch the SenoClock® platform in China, India, and Australia in Q3 2024, aiming to increase revenue and visibility[42]. - The company is in discussions with major insurance companies and a Fortune 500 consumer health company for pilot studies, which could lead to significant revenue opportunities[43]. - The company is updating its blood age algorithm to meet stricter clinical guidelines, leveraging large language models for enhanced personalization[44].

Financial Performance and Projections - The company recognized a full impairment of right-of-use assets due to continuous losses and negative cash flow from its biopharmaceutical and corporate investment businesses, resulting in a recoverable amount of zero[4]. - Estimated proceeds from the sale of listed securities in 2024 are projected to be $297,000, while proceeds from the sale of an associate company are expected to be $1,130,000[5]. - The company anticipates milestone revenue from China to reach $5,000,000 in 2025, with royalty income estimated at $500,000[5]. - The revenue growth rate for royalty income is conservatively estimated between 0% and 17%, while income from intellectual property (Deep Longevity) is projected to grow between 33.7% and 115.2%[5]. - Revenue projections for Deep Longevity are estimated at $458,000 in 2024, $1,396,800 in 2025, $2,220,200 in 2026, and $3,235,400 in 2027, with a growth rate of 45.7% to 205.0%[7]. - The company adjusted its revenue growth rate from a previous range of 63.9%-366.7% down to 45.7%-205.0% due to actual cash flows being approximately 59% lower than prior forecasts[8]. - The total operating expenses are projected to range from -133.6% to -52.6%[7]. Impairment and Valuation - The impairment assessment for intangible assets, specifically the intellectual property of Deep Longevity, indicated a valuation of approximately $1,670,000 against a book value of $1,520,000, suggesting no impairment is necessary[6]. - The valuation method used for intangible assets is the income approach, which quantifies future earnings into expected future cash flows[10]. - The company acknowledged a full impairment after discussions with Rosenblatt regarding revenue growth rates and actual income per customer, leading to projected net cash outflows during the forecast period[11]. Business Strategy and Focus - The company has shifted its business focus from B2C to B2B, leading to adjustments in the cash flow forecast period from ten years to four years, aligning with the remaining useful life of the intangible assets[8]. - The supplementary information provided does not affect other data contained in the 2023 annual report, which remains unchanged[11].

Financial Performance - The Company reported a loss attributable to shareholders of approximately US$25.05 million, primarily due to a total amortisation charge of approximately US$22.18 million on intangible assets and operating and R&D expenses of approximately US$6.07 million[3]. - The Group recorded a loss attributable to shareholders of approximately US$25.05 million, primarily due to a total amortization charge of approximately US$22.18 million on intangible assets[18][22]. - Plethora recorded an operating loss of approximately GBP 0.67 million (or approximately US$0.83 million) for the year ended 31 December 2023, consistent with the previous year[100]. - Loss before taxation for 2023 was $(30,463,000), down from $(36,008,000) in 2022, reflecting better financial performance[127]. - Loss for the year attributable to shareholders for 2023 was $(25,049,000), compared to $(36,427,000) in 2022, indicating a decrease in losses[127]. - Total revenue and fair value loss on financial instruments for 2023 was $(539,000), compared to $(4,020,000) in 2022, indicating a significant improvement[127]. - Revenue less expenses before impairment losses for 2023 was $(27,713,000), an improvement from $(34,995,000) in 2022[127]. - Operating loss after impairment losses and provisions for 2023 was $(30,383,000), compared to $(34,995,000) in 2022, showing a reduction in losses[127]. Capital and Shareholder Equity - As of December 31, 2023, the Group recorded a capital deficiency of approximately US$1.55 million, a decrease of approximately US$4.15 million from the previous year, mainly due to the loss attributable to shareholders[3]. - The capital deficiency as of December 31, 2023, was approximately US$1.55 million, a decrease of approximately US$4.15 million from the previous year[48]. - The Company has eliminated its debt by offsetting approximately US$14.84 million in shareholder loans through the issuance of 2,166,571,194 new shares[41]. - Total assets decreased to $2,795,000 in 2023 from $26,318,000 in 2022, showing a significant reduction in asset base[130]. - Current liabilities decreased to $(3,581,000) in 2023 from $(18,316,000) in 2022, indicating improved liquidity[130]. - Total liabilities decreased to $(4,346,000) in 2023 from $(23,721,000) in 2022, reflecting a reduction in overall debt[130]. - Net liabilities for 2023 were $(1,551,000), a decline from net assets of $2,597,000 in 2022, indicating a shift towards a negative net asset position[130]. Product Development and Regulatory Progress - The Phase 3 studies for Senstend™ in China successfully met all four co-primary endpoints, with the NDA submission to NMPA expected in 2024 and approval anticipated 12 months thereafter[3]. - The NDA for Senstend™ is approximately 90% complete, with the finalisation of the manufacturing and supply agreement pending[10]. - The Group is working towards submitting the NDA for Senstend™ to NMPA in 2024 and engaging with the FDA to finalize the phase 3 study in the US[26][32]. - The successful completion of phase 3 randomized clinical studies in China met all four co-primary endpoints, marking a significant milestone for the Group[20][23]. - Senstend™ has completed Phase 3 double-blinded placebo-controlled studies in China, meeting all four co-primary endpoints of IELT[53]. - The FDA has provided feedback on the NDA submission process, with major elements of the protocol agreed upon, although a "no agreement" statement was issued regarding the SPA request[67]. - The FDA issued a "not approvable" statement regarding the evaluation questionnaire for Fortacin™, requiring evidence from the completion of the Phase III clinical trial before analysis can proceed[71]. Market and Commercialization Strategy - The Group remains focused on the successful commercialisation of Fortacin™/Senstend™ in key markets including the US, China, and Southeast Asia[6]. - Upon NMPA granting an import licence for Senstend™, the Group expects to receive US$5 million from Wanbang Biopharmaceutical, and an additional US$2 million upon the first commercial sale in China[3]. - Senstend™ has the potential to help an initial target market of approximately 9 million patients in China in its first year, growing to over 170 million patients by its tenth year[11][14]. - The Group anticipates exponential growth in royalty income from Fortacin™ starting in 2024 due to resumed manufacturing in Europe[31]. - The Company aims to commercialise its deep learning aging clock technology and MindAge© offering, partnering with clinics and insurance companies[6]. - The Group is in discussions for out-licensing Fortacin™ rights to pharmaceutical companies for the Japanese and South Korean markets, which could increase royalty revenue[12][14]. Operational Developments - Fortacin™ has resumed sales in France, Germany, Italy, and Portugal, with strong demand observed for the first batch of units[5]. - Deep Longevity has made significant progress in 2023, including the launch of its SenoClock® platform and acquiring its first customer in the public hospital space[17][21]. - The Company launched SenoClock® Gold in 2023, signing its first customers, including public hospitals, and plans to expand its product offering in 2024[35]. - The Group is negotiating out-licensing rights for Fortacin™ with pharmaceutical companies in Japan and South Korea[81]. - The Company is monitoring geopolitical uncertainties, particularly in Ukraine, but currently does not experience any material impact on its business[47]. Share Options and Capital Management - On January 12, 2023, the Company issued 2,166,571,194 new shares at a subscription price of HK$0.0785 per share through a rights issue[156]. - The Company's authorized share capital remained unchanged during the year ended December 31, 2023, with no shares repurchased[161]. - The total number of options granted during the year is 76,400,000, while 6,072,388 options lapsed[195]. - The total number of options outstanding as of December 31, 2023, is 6,729,723 after adjustments from the Rights Issue and Share Consolidation[192]. - The adjustments to the Options were confirmed to comply with the relevant terms of the Scheme and Listing Rules by the independent financial adviser, Maxa Capital Limited[182]. - The options granted are exercisable from May 3, 2024, to May 2, 2033[167].

Financial Performance - The company reported a loss attributable to shareholders of approximately $25,050,000 for the year ended December 31, 2023, primarily due to amortization expenses of intangible assets totaling about $22,180,000 and operational and R&D expenses of approximately $6,070,000[9]. - The company recorded a capital loss of approximately $1,550,000 as of December 31, 2023, a decrease of about $4,150,000 from the previous year, primarily due to the loss attributable to shareholders[2]. - The company reported a net loss of $25,049,000 for the year ended December 31, 2023, an improvement from a net loss of $36,427,000 in 2022, reflecting a reduction of approximately 31%[18]. - The group reported a total comprehensive loss of $30,463,000 for 2023, compared to a loss of $36,008,000 in 2022, indicating a 15.5% improvement[46][51]. - The biopharmaceutical segment's loss before tax for 2023 was $25,290,000, compared to a loss of $26,607,000 in 2022, reflecting a 4.9% improvement[46][51]. - The company reported a deferred tax credit of $5,387,000 in 2023, compared to a tax expense of $433,000 in 2022, indicating a significant shift[60]. - The company recognized a tax credit of approximately $5.41 million for the year ended December 31, 2023, compared to a tax expense of approximately $420,000 for the year ended December 31, 2022[72]. - The company’s total assets decreased to $2,785,000 in 2023 from $2,312,000 in 2022, while total liabilities significantly decreased from $18,316,000 to $3,581,000, indicating improved financial health[20][21]. Revenue and Growth - In 2023, the company reported total revenue of $291,000, a substantial increase from $114,000 in 2022, representing a growth of approximately 155%[17]. - The group’s revenue for the year 2023 was $317,000, compared to $223,000 in 2022, representing a 42.2% increase[41]. - Patent licensing income increased significantly to $171,000 in 2023 from $35,000 in 2022, a growth of 388.6%[41]. - Revenue from the Deep Longevity segment totaled $291,000 in 2023, up from $114,000 in 2022, marking a 155.3% increase[41]. - The company expects royalty income from Fortacin™ to experience exponential growth starting in 2024 as production resumes in Europe and supply to commercial partners is restored[15]. Drug Development and Commercialization - The company aims to submit a new drug application for Senstend™ to the National Medical Products Administration by the end of Q1 2024, with expectations of approval within 12 months, potentially generating $5,000,000 and $2,000,000 in revenue from the Chinese market[3][5]. - The company has made significant progress in the commercialization of Fortacin™ in Europe, with strong demand observed in France, Germany, Italy, and Portugal, following its reintroduction in 2023[3]. - The company achieved a significant milestone in 2023 by successfully completing the Phase III clinical study in China for Fortacin™, with all four primary endpoints met[11]. - The company is actively discussing licensing Fortacin™ rights to pharmaceutical companies in Japan and South Korea, which could further increase royalty income[7]. - The company is addressing feedback from the FDA regarding the special protocol assessment for Fortacin™ in the U.S. and plans to engage further in the first half of 2024[7]. - The company has completed approximately 90% of the documentation for the new drug application for Senstend™ in China, awaiting the signing of a manufacturing and supply agreement with Jiangsu Wanbang Pharmaceutical[5]. Strategic Initiatives - The company has integrated Deep Longevity into its existing business, focusing on developing AI-driven aging clock technologies and commercializing various products[6]. - The company launched the SenoClock® platform through Deep Longevity, achieving significant progress in the public hospital sector[8]. - The company launched SenoClock® Gold in 2023, successfully acquiring its first batch of registered customers, including public hospitals, and plans to expand the product range in 2024[15]. - The company is exploring potential mergers and acquisitions to bolster its growth strategy[111]. - The company emphasizes the importance of intellectual property in its business model[111]. Financial Management and Risks - The company is facing challenges from high inflation, high interest rates, and geopolitical uncertainties, which may continue to impact the business environment in 2024[11][14]. - The company aims to implement operational plans to control costs and generate sufficient operating cash flow to meet current and future obligations[29]. - The company is focused on cost control measures and timely collection of receivables to improve cash flow[30]. - There is significant uncertainty regarding the company's ability to continue as a going concern, depending on the successful implementation of its plans[28]. - The group faces significant risks related to its equity in Plethora and the performance of its investment portfolio due to global market volatility[87]. - The group operates in USD, exposing it to foreign exchange risks related to currency fluctuations[88]. Corporate Governance and Compliance - The board has prepared a cash flow forecast for the 15 months ending March 31, 2025, estimating the company's cash needs and believes it has sufficient working capital to meet current requirements[27]. - The company has entered into a loan agreement with Galloway for a total of $2,000,000 at an interest rate of 8%, with $400,000 already drawn down[29]. - The company has not early adopted any new standards or interpretations that have been issued but are not yet effective[38]. - The independent auditor, Roshan Mei, was appointed effective June 21, 2023, following the resignation of the previous auditor, Hong Kong Lee & Associates[98]. - The company is committed to adhering to Hong Kong Financial Reporting Standards in its financial disclosures[110]. Shareholder Matters - The board has resolved not to declare a final dividend for the year ended December 31, 2023, consistent with the previous year[96]. - The rights issue raised approximately HKD 170,080,000 (or about $21,670,000) before expenses, with a net amount of approximately HKD 163,800,000 (or about $20,870,000) after estimated expenses[76]. - Approximately 63.63% (up to HKD 104,230,000 or about $13,280,000) of the net proceeds from the rights issue will be used for debt repayment[76]. - The company has not repurchased, sold, or redeemed any of its listed securities during the year ended December 31, 2023[101].

CONTENTS 目 錄 | 2 | Performance Overview | 業績概覽 | | --- | --- | --- | | 5 | Review and Prospects | 回顧及展望 | | 12 | Management's Discussion and | 管理層對本集團業績之 | | | Analysis of the Group's Performance | 討論及分析 | | 18 | Condensed Consolidated Statement of Profit or | 簡明綜合損益及 | | | Loss and Other Comprehensive Income | 其他全面收益表 | | 20 | Condensed Consolidated Statement | 簡明綜合財務狀況表 | | | of Financial Position | | | 22 | Condensed Consolidated Statement | 簡明綜合權益變動表 | | | of Changes in Equity | | | 23 | Condensed Conso ...

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佈之內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公佈全部或 任何部份內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 （於開曼群島註冊成立之有限公司） （股份代號：���） 截至二零二三年六月三十日止六個月之 未經審核中期業績 業績概覽 截至二零二三年六月三十日止六個月之財務業績概要及其他重要事件包括： • 12,200,000 (i) 本公司股東應佔虧損約 美元，主要是由於： 無形資產之攤銷 12,380,000 (ii) 費用約 美元（屬非現金項目）；及 本集團的營運及研發開支約 2,940,000 (iii) 美元，有關金額部分被 本公司股本投資組合內之透過損益賬按公 91,000 允價值處理之金融資產之已變現及未變現按市值計價收益分別約 美元 19,000 及 美元所抵銷。 • 2,600,000 339.01% 股東權益由二零二二年十二月三十一日的約 美元，增加 至 11,400,000 ...

CONTENTS 目 錄 | 2 | Performance Overview | 業績概覽 | | --- | --- | --- | | 5 | Chairman's Statement | 主席報告 | | 9 | CEO's Report | 行政總裁報告 | | 20 | Directors' Report | 董事會報告 | | 63 | Biographical Details of Directors and | 董事及高級管理層 | | | Senior Management | 之履歷詳情 | | 69 | Management's Discussion and Analysis | 管理層對本集團業績 | | | of the Group's Performance | 之討論及分析 | | 76 | Corporate Governance Report | 企業管治報告 | | 106 | Environmental, Social and Governance Report | 環境、社會及管治報告 | | 132 | Independent Auditor's Report | ...