Exhibit 99.1

INDEX TO THE CONSOLIDATED FINANCIAL STATEMENTS
ORIENTAL RISE HOLDINGS LIMITED
UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS
AS OF AND FOR THE SIX MONTHS ENDED JUNE 30, 2024

TABLE OF CONTENTS

	Page
Consolidated Financial Statements as of and for the six months ended June 30, 2024
Consolidated statements of financial position as of June 30, 2024	F-2
Consolidated statements of operations for the six months ended June 30, 2024	F-3
Consolidated statements of comprehensive income for the six months ended June 30, 2024	F-4
Consolidated statements of changes in equity for the six months ended June 30, 2024	F-5
Consolidated statements of cash flows for the six months ended June 30, 2024	F-6

F-1

Oriental Rise Holdings Limited
Consolidated statements of financial position
As of June 30, 2024
(all amounts in thousands of USD, except for number of shares and per share data, or as otherwise noted)

	As of December 31, 2023			As of June 30, 2024
	USD’000 (audited)			USD’000 (unaudited)
ASSETS
Current assets:
Cash and cash equivalents		36,711			37,867
Trade receivables, net		936			877
Inventories		2,014			2,818
Prepayments and other current assets		10			10
Total current assets		39,671			41,572
Property, plant and equipment, net		27,375			26,199
Right-of-use assets		186			172
Deferred tax assets		488			553
Total non-current assets		28,049			26,924
Total assets		67,720			68,496
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Bank overdraft		2,545			2,557
Short-term bank borrowings		141			—
Accruals and other payables		529			751
Amounts due to related parties		1,122			1,356
Current portion of lease liabilities		16			16
Income tax payable		125			—
Total current liabilities		4,478			4,680
Lease liabilities, non-current portion		200			187
Total non-current liabilities		200			187
Total liabilities		4,678			4,867
Shareholders’ equity
Ordinary shares (US$0.0008 par value, 125,000,000 shares authorized, 20,000,000 shares issued and outstanding)		16			16
Receivables from shareholders		(3,210	)		(3,210	)
Share premium		4,861			4,861
Retained profits		62,619			64,810
Accumulated other comprehensive loss		(3,783	)		(5,387	)
Other reserves		2,539			2,539
Total shareholders’ equity		63,042			63,629
Total liabilities and shareholders’ equity		67,720			68,496

F-2

Oriental Rise Holdings Limited
Consolidated statements of operations
For the six months ended June 30, 2024
(all amounts in thousands of USD, except for number of shares and per share data, or as otherwise noted)

	Six months ended June 30
	2023			2024
	(unaudited) USD’000			(unaudited) USD’000
Revenues from sales of product		15,071			7,695
Cost of sales		(5,878	)		(5,030	)
Gross profit		9,193			2,665
Operating expenses:
Selling and distribution costs		(37	)		(32	)
Administrative expenses		(715	)		(460	)
Total operating expenses		(752	)		(492	)
Operating profit		8,441			2,173
Other income/(losses), net		49			47
Finance costs		(62	)		(80	)
Profit before taxation		8,428			2,140
Income tax credit		71			51
Net profit for the period		8,499			2,191
Earnings per share
Basic and diluted (USD)		0.71			0.18
Weighted-average number of shares
Basic		12,000,000	^		12,000,000
Diluted		12,000,000	^		12,000,000

^ Giving retroactive effect to the subdivision of shares effected on September 27, 2023 (Note 17).

F-3

Oriental Rise Holdings Limited
Consolidated statements of comprehensive income
For the six months ended June 30, 2024
(all amounts in thousands of USD, except share and per share data, or as otherwise noted)

	Six months ended June 30
	2023			2024
	USD’000 (unaudited)			USD’000 (unaudited)
Net profit for the period		8,499			2,191
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustment		(2,708	)		(1,604	)
Other comprehensive loss		(2,708	)		(1,604	)
Total comprehensive income for the period		5,791			587

F-4

Oriental Rise Holdings Limited
Consolidated statements of changes in equity
For the six months ended June 30, 2024
(all amounts in thousands of USD, except for number of shares and per share data, or as otherwise noted)

	Share capital			Receivables from shareholders			Share premium		Other Comprehensive Income			Merger reserve		Capital reserve		Statutory reserve		Retained profits		Total
	USD’000			USD’000			USD’000		USD’000			USD’000		USD’000		USD’000		USD’000		USD’000
At 1/1/2024		16			(3,210	)		4,861		(3,783	)		1		2,291		247		62,619		63,042
Profit and total comprehensive income for the period		—			—			—		(1,604	)		—		—		—		2,191		587
At 30/6/2024 (unaudited)		16			(3,210	)		4,861		(5,387	)		1		2,291		247		64,810		63,629
At 1/1/2023		10	*^		(10	)*^		1,667		(2,631	)		1		2,291		247		51,118		52,693
Issuance of new shares		6			(3,200	)		3,194		—			—		—		—		—		—
Profit and total comprehensive income for the period		—			—			—		(2,708	)		—		—		—		8,499		5,791
At 30/6/2023 (unaudited)		16	^		(3,210	)^		4,861		(5,339	)		1		2,291		247		59,617		58,484

*	Giving retroactive effect to the issuance of shares at nominal consideration effected on January 10, 2023 (Note 17).
^	Giving retroactive effect to the subdivision of shares effected on September 27, 2023 (Note 17).

F-5

Oriental Rise Holdings Limited
Consolidated statements of cash flows
For the six months ended June 30, 2024
(all amounts in thousands of USD)

	Six months ended June 30,
	2023			2024
	USD’000 (unaudited)			USD’000 (unaudited)
Operating activities
Net Profit		8,499			2,191
Adjustments for:
Income tax credit		(71	)		(51	)
Depreciation		552			553
Finance costs		62			80
Interest income		(41	)		(38	)
Operating profit before working capital changes		9,001			2,735
Changes in assets and liabilities, net of effects of acquisitions:
Inventories		(265	)		(862	)
Trade receivables		(1,499	)		38
Prepayments and other current assets		(58	)		—
Accruals and other payables		533			237
Cash generated from operations		7,712			2,148
Income tax paid		(149	)		(149	)
Cash generated from operating activities		7,563			1,999
Investing activities
Interest received		41			38
Payments for acquisition of property, plant and equipment		(1,643	)		(1	)
Cash (used in)/generated from investing activities		(1,602	)		37
Financing activities
Proceeds from bank borrowings		144			—
Repayments of bank borrowings		—			(140	)
Interest paid		(57	)		(73	)
Amounts due to related parties		395			255
Lease payments		(12	)		(16	)
Cash generated from financing activities		470			26
Increase in cash and cash equivalents		6,431			2,062
Cash and cash equivalents at the beginning of the period		23,174			34,166
Effect of exchange rate changes		(1,370	)		(918	)
Cash and cash equivalents at the end of the period		28,235			35,310

F-6