China Carbon Neutrality Development Group Limited completed the acquisition of 73% equity interest in Shenzhen Jianxinchu and Technology Co., Ltd. (renamed as Green Credit Technology) and 60% equity interest in Zailiang New Energy from January 1, 2023 to June 30, 2024 reporting period. Green Credit Technology is engaged in carbon neutral business of China's carbon management service technology platform, while Zailiang New Energy is a lithium battery recycling enterprise with a utilization permit in China. The Group's operation share option plan aims to reward eligible participants who have contributed to the group's operations. In terms of financial performance, the Group recorded a pre-tax loss of HK$136,173,000 during the period. Accrued liabilities include guarantees for bank performance bonds and personal injury claims related...Show More

China Carbon Neutrality Development Group Limited completed the acquisition of 73% equity interest in Shenzhen Jianxinchu and Technology Co., Ltd. (renamed as Green Credit Technology) and 60% equity interest in Zailiang New Energy from January 1, 2023 to June 30, 2024 reporting period. Green Credit Technology is engaged in carbon neutral business of China's carbon management service technology platform, while Zailiang New Energy is a lithium battery recycling enterprise with a utilization permit in China. The Group's operation share option plan aims to reward eligible participants who have contributed to the group's operations. In terms of financial performance, the Group recorded a pre-tax loss of HK$136,173,000 during the period. Accrued liabilities include guarantees for bank performance bonds and personal injury claims related to construction work. Related party transactions involve interest expenses on loans from related companies and directors, as well as donations to a society represented by an executive director. Financial risk management policies cover foreign exchange risk, credit risk, and liquidity risk. The objective of capital management is to ensure ongoing operations and maximize shareholder returns through optimizing debt and equity balances. Retirement benefit plans include Mandatory Provident Fund schemes for Hong Kong employees and nationally managed retirement benefit plans for Chinese employees. As of June 30, 2024, the fair value of financial assets at FVTOCI fair value was HK$2,650,000, and the fair value of carbon credit assets was HK$15,620,000, classified as Level 1 and Level 3 fair value hierarchy respectively.