Financial Performance - The Group's consolidated revenue for the year was approximately HK$74,552,000, representing a year-on-year increase of 35.7%[11] - Profit attributable to owners of the Company was approximately HK$96,614,000, a turnaround from a loss of approximately HK$111,404,000 in the previous year[11] - The multi-media technologies and convergence media business recorded revenue of approximately HK$72,353,000, representing a 42.4% year-on-year increase[18] - The revenue from the gamma ray business for the year ended March 31, 2022, was approximately HK$2,199,000, down from HK$4,149,000 in 2021[37] - The Group recorded a revenue of approximately HK$74,552,000 for the year, representing an increase of approximately 35.7% compared to HK$54,941,000 in the previous year[104] - Revenue from the multi-media technologies and convergence media business was approximately HK$72,353,000, which increased by 42.4% from HK$50,792,000 in the previous year[104] - The consolidated profit attributable to owners of the Company was approximately HK$96,614,000, a significant recovery from a loss of approximately HK$111,404,000 in the previous year[106] Business Strategy and Development - The Company completed capital reorganization and rights issue, raising approximately HK$80 million in net proceeds, strengthening its capital base[12] - The Group has restructured its multi-media technologies and convergence media business to align with long-term strategic initiatives[13] - The Group is exploring potential strategic investments and cooperation opportunities to expand its core business segments[13] - The Group aims to expand its convergence media digital advertising business by integrating online shopping trends and engaging with train passengers through mobile marketing and influencer live streaming[24] - The Group plans to allocate more resources to its gamma ray dry grinding and dry beneficiation business over the next few years to develop a sustainable business segment[56] - The Group aims to expand its business presence and investments in both domestic and international markets, applying similar technologies to different iron ore operators[56] Economic and Market Conditions - The emergence of the omicron COVID variant and the PRC government's zero-tolerance policy have impacted the regional economy[13] - Due to the ongoing impact of the omicron COVID variant, a shift in travel demand from international to domestic is expected, with significant increases in high-speed railway passenger flow anticipated post-pandemic[26] - Economic instability in the region and China has resulted in reduced disposable income for consumers and businesses, leading to decreased demand for the Group's services and increased pricing pressure[66] Operational Challenges - The ongoing COVID-19 pandemic and government policies may disrupt business operations and impact demand for the Group's technologies[60][61] - The Group's multi-media and convergence media platform business is significantly impacted by the ongoing COVID-19 pandemic, which has disrupted normal operations and reduced demand for its services[64] - Changes in government policies related to COVID-19, such as mandatory quarantines and dynamic zero-COVID policies in China, may lead to a decrease in tourist numbers, adversely affecting the Group's business[65] - The risk of losing key personnel could negatively impact the Group's operations and profitability, although this risk is mitigated through regular reviews of human resource management systems[71] - The frequency of cyber-attacks has increased, posing a significant threat to the Group's information security, which could lead to substantial costs for data recovery and system restoration[72] Environmental and Social Responsibility - The Group is committed to minimizing its environmental impact and has implemented initiatives to conserve resources, including paper recycling and electricity conservation[78] - The development of new technologies, particularly DGDB Technologies, is expected to positively impact energy consumption and carbon emissions, potentially transforming the steel industry in China[79] Financial Position and Capital Management - As of 31 March 2022, the Group's total assets were approximately HK$142,191,000, while net liabilities amounted to approximately HK$363,907,000[106] - The Group had bank balance and cash of approximately HK$28,493,000, an increase from approximately HK$10,063,000 in the previous year[106] - The gearing ratio was 60.8% as of 31 March 2022, compared to 55.0% in the previous year[106] - The liquidity ratio improved to 15.2% as of 31 March 2022, up from 6.4% in the previous year[106] - The gross proceeds from the Rights Issue were approximately HK$74.43 million, with net proceeds of HK$70.77 million fully utilized for settling outstanding liabilities and general working capital as of March 31, 2022[110] Governance and Compliance - The Auditor expressed a disclaimer of opinion on the consolidated financial statements for the year ended March 31, 2022, due to limitations on comparative figures and uncertainties regarding going concern[117] - The management believes that adequate provisions have been made regarding litigations, with no other material litigation expected to significantly affect the financial position of the Group[110] - The Group has complied with relevant laws and regulations that significantly impact its business operations, ensuring legal compliance[80] - The independent auditor's report indicated a "disclaimer of opinion" regarding the financial statements due to uncertainties related to the ongoing operations of Baoli Youte, which was declared bankrupt by the Shenzhen court on August 25, 2020[128] Employee and Management Information - As of March 31, 2022, the Group employed 62 employees, with staff costs amounting to HK$12,040,000, a slight decrease from HK$12,148,000 in the previous year[115] - The Group contributes 5% of relevant payroll costs capped at HK$1,500 per month to the MPF scheme for qualifying employees in Hong Kong[177] - The New Share Option Scheme was adopted on September 30, 2021, to provide incentives to eligible persons for their contributions to the Group[187] - The maximum number of shares that may be issued under the New Share Option Scheme cannot exceed 30% of the total number of shares in issue[195] Shareholder and Investment Information - The company has a diverse investment portfolio, including real estate, biological medicine, new energy, and media, with significant projects in Shanghai, Hangzhou, and Shenyang[131] - The Group's principal activities include investment holding, multimedia technologies, convergence media business, and gamma ray dry grinding and beneficiation business[166] - For the year ended March 31, 2022, the Board does not recommend the payment of a final dividend, consistent with the previous year[170]

Financial Performance - The Group's revenue for the six months ended September 30, 2021, increased by 70% to approximately HK$36,627,000, compared to HK$21,572,000 in the same period last year[10]. - The gross profit surged 485% to HK$8,045,000, up from HK$1,375,000 for the same period last year[10]. - The loss for the period narrowed to HK$12,946,000, compared to HK$14,879,000 in the corresponding period of last year[10]. - The Group recorded a revenue of approximately HK$36,627,000 for the period, representing an increase of approximately 70% compared to HK$21,572,000 in the previous corresponding period[36]. - Loss for the period amounted to approximately HK$12,946,000, a slight improvement from HK$14,879,000 in the previous year[36]. - The total comprehensive income for the period ended September 30, 2021, was a loss of HK$10,563,000, compared to a loss of HK$116,108,000 in the same period of 2020[101]. - The total comprehensive expense for the period was HK$14,435,000, slightly lower than HK$14,879,000 in the previous year, indicating a reduction of about 3.0%[90]. - The loss for the period was HK$12,946,000, an improvement from a loss of HK$14,879,000 in the same period last year, representing a decrease of approximately 13.0%[90]. Business Segments - The multi-media technologies business recorded a revenue of HK$34,443,000 for the six months ended September 30, 2021, representing a 75% increase compared to HK$19,652,000 in the same period last year[10]. - The gamma ray business reported revenue of HK$2,184,000 for the six months ended September 30, 2021, compared to HK$1,920,000 in 2020, representing a year-on-year increase of approximately 13.75%[21]. - The multi-media technologies business generated revenue of HK$34,443,000, while the gamma ray business contributed HK$2,184,000[116]. - The segment results for the multi-media technologies business showed a loss of HK$1,367,000, and the gamma ray business reported a loss of HK$1,822,000[116]. Strategic Initiatives - The Group plans to expand its scale of convergence media business and has a strong pipeline in gamma ray dry grinding and dry separation technologies[10]. - The Company will explore potential strategic investments and cooperation opportunities to expand its business segments[10]. - The Group aims to achieve growth and create long-term value for shareholders through its strategic initiatives[10]. - The Group aims to innovate and integrate emerging online shopping trends in the cross-border duty-free e-commerce industry on its train media platform[17]. - The Group is positioned to expand its segment business into other e-commerce marketing opportunities following the economic recovery post-COVID-19[109]. Financial Position - As of September 30, 2021, total assets were approximately HK$113,008,000, while net liabilities stood at approximately HK$554,599,000[36]. - The Group's current liabilities exceeded current assets by approximately HK$638,067,000, with net liabilities of approximately HK$554,599,000[108]. - Total borrowings amounted to approximately HK$326,822,000, while cash and cash equivalents were approximately HK$5,742,000[108]. - The gearing ratio was 58.93% as of 30 September 2021, compared to 55.03% as of 31 March 2021[39]. - The liquidity ratio was 4.42% as of 30 September 2021, down from 6.38% as of 31 March 2021[39]. Capital Management - The Company completed a capital reorganization and rights issue, raising net proceeds of approximately HK$70 million to strengthen its capital base[10]. - The company issued 186,078,061 rights shares at a price of HK$0.40 per rights share, resulting in net cash proceeds of approximately HK$70 million[64]. - The capital reorganisation involving share consolidation and capital reduction became effective on 1 September 2021, aimed at improving the company's capital structure[168]. - The company completed a capital reduction of HK$368,435,000 during the period[101]. Operational Challenges - The business environment remains challenging due to COVID-19 variants and renewed outbreaks, impacting regional economic uncertainty[10]. - There are significant uncertainties regarding the Group's ability to continue as a going concern, which may affect asset realizations and liabilities[110]. - The management is in discussions with major creditors to extend loans, with potential repayment through equity[108]. Employee and Management - As of September 30, 2021, the group employed 75 employees, with staff costs amounting to approximately HK$4,493,000, an increase from HK$3,788,000 for the same period in 2020[62]. - Key management compensation decreased to HK$2,201,000 for the six months ended 30 September 2021, down from HK$3,114,000 in the same period of 2020, representing a decline of 29.2%[164]. - The company’s employee benefits plan includes medical insurance, hospitalization plans, mandatory provident fund, share option plans, and share reward plans[65]. Legal and Compliance - The company is seeking legal advice regarding an arbitral award related to a breach of a framework agreement, which may involve a total payment of RMB80,000,000 to the vendor[55]. - The company has joint liability for obligations related to Baoli Yota, which ceased operations in mid-2019, and is involved in ongoing legal proceedings regarding this matter[55]. - The company has made adequate provisions for litigations that are not expected to significantly adversely affect its financial position[58].

Financial Performance - The Group's consolidated revenue for the year was HK$54,941,000, representing an 11% year-on-year increase from HK$49,302,000[10]. - The loss attributable to shareholders was HK$111,404,000, including one-off exceptional items of HK$54,051,000 related to impairment loss on goodwill and loss on deconsolidation of a subsidiary[10]. - The financial summary indicates a rebound in revenue amidst a challenging business environment due to the COVID-19 pandemic[10]. - The loss for the year amounted to HK$112,640,000, a decrease from HK$118,559,000 in the previous year, primarily due to reduced costs in the multi-media technologies business[89]. - As of March 31, 2021, the total assets of the Group were HK$138,122,000, while net liabilities stood at HK$540,164,000, compared to HK$172,758,000 and HK$430,491,000 in the previous year respectively[89]. - The Group's annual railway patronage exceeded 100 million passengers in the Guangdong-Hong Kong-Macau Greater Bay Area, with expectations for significant increases in post-pandemic travel demand[74]. - The Group did not report any significant changes in its financial position compared to the previous year, maintaining stability[124]. Business Segments - The multi-media technologies business generated revenue of HK$50,792,000 for the year, up from HK$39,946,000 in the previous year[12]. - The Group's revenue from the gamma ray business for the year ended March 31, 2021, was HK$4,149,000, a decrease from HK$4,675,000 in 2020[30]. - The Group is engaged in multiple business segments, including multi-media technologies, gamma ray business, tourism, and securities trading[9]. - The Group's multimedia technologies business is expected to continue being a key revenue driver moving forward[29]. - The Group's multi-media and advertising platform business relies on licenses from third parties, and any adverse changes could materially affect its operations[55]. Strategic Initiatives - The Group plans to continue its long-term strategic initiatives in developing the multi-media technologies and gamma ray businesses despite ongoing economic uncertainties[11]. - The Group will explore potential strategic investments and cooperation opportunities to expand its business scope and create long-term value for shareholders[11]. - The Group is actively seeking to diversify the application of gamma ray technologies in the mining sector to enhance efficiency[31]. - The Group aims to expand its convergence media business through new online/offline duty-free importing e-commerce marketing platform services[76]. - The Group's strategy aligns with the 14th Five-Year Plan's focus on promoting consumption and domestic circulation, driving demand for branded duty-free products[75]. Challenges and Risks - Business activities are expected to gradually resume following the rollout of COVID-19 control measures, although challenges remain in the post-pandemic economy[11]. - The Group's business is sensitive to infectious diseases, particularly the COVID-19 pandemic, which has disrupted normal operations and decreased demand for its multi-media technologies[47]. - Changes in government policies due to COVID-19, including quarantine measures, have adversely impacted tourism and the Group's advertising platform business[48]. - Economic volatility in the region, particularly in mainland China, affects discretionary consumer spending, which could reduce demand for the Group's services[49]. - The ongoing trade war between China and the US poses uncertainties and risks to the Group's business operations[50]. Human Resources and Governance - The Group emphasizes continuous professional development for employees, including training on regulatory requirements and corporate governance practices[64]. - The Group recognizes employees as vital assets and encourages participation in external seminars to enhance industry knowledge[64]. - The emolument policy for employees is based on merit, qualifications, and competence, with remuneration packages reviewed periodically[102]. - The Group's employee benefits include medical insurance, hospitalization schemes, and share option schemes[102]. - The Board of Directors consists of six members, including three executive Directors and three independent non-executive Directors[189]. Investments and Acquisitions - The Group completed the acquisition of 80% of ShenZhen ZiJun Media Company Limited on July 13, 2020, enhancing its multimedia technologies business[21]. - The acquisition of ZiJun Media is expected to create synergies with the Group's multimedia technologies business[99]. - The Company entered into purchase agreements to acquire interests in Hong Kong Made and Ample Success for a total consideration of HK$50,000,000, satisfied by the issuance of 250,000,000 shares at HK$0.200 per share[155]. Compliance and Audit - The Auditor expressed a disclaimer of opinion on the consolidated financial statements for the year ended March 31, 2021, due to limitations on comparative figures and uncertainties regarding going concern[102]. - The Audit Committee has reviewed and agreed with the disclaimer of opinion in the Independent Auditors' Report[102]. - The Board's report includes audited consolidated financial statements, ensuring transparency and compliance with regulatory requirements[121]. - The Company has complied with all relevant corporate governance code provisions throughout the year under review[186]. Shareholder Information - For the year ended March 31, 2021, the Board does not recommend the payment of a final dividend, consistent with the previous year where no dividend was paid[125]. - The total number of issued shares as of March 31, 2021, was 3,721,561,225[167]. - The Company has not engaged in any arrangements enabling Directors to acquire benefits through the acquisition of shares or debentures during the year[158].

| --- | --- | --- | |-------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------| | | China Baoli Technologies Holdings Limited \n中國寶力科技控股有限公司 (Incorporated in Bermuda with limited liability)（於百嘉建註冊成立之有限公司） (Stock Code 股份代號: 164) | | | 8 | | | | | Interim Report 2 0 | 中期報告 | | | | | Contents 目錄 | --- | --- | --- | |----------------------------------------------------------- ...

Financial Performance - The company reported a revenue of approximately $X million for the first half of 2019, representing a Y% increase compared to the same period last year[11]. - The company provided a positive outlook for the second half of 2019, projecting a revenue growth of B% year-over-year[11]. - Revenue from mobile and multi-media technologies and advertising platforms for the six months ended 30 September 2019 was HK$16,811,000, a decrease of 36.90% compared to HK$26,640,000 for the same period in 2018[23]. - The tourism and hospitality segment revenue plummeted by 71.65% to approximately HK$1,898,000 from HK$6,695,000 in the same period last year[34]. - Revenue for the six months ended September 30, 2019, was HK$21,003,000, a decrease of 41.5% compared to HK$35,851,000 in the same period of 2018[128]. - Loss for the period decreased significantly to approximately HK$70,677,000 from approximately HK$115,861,000 in the previous period, with loss attributable to owners decreasing to approximately HK$70,429,000[63]. - Loss before tax for the period was HK$70,677,000, an improvement from a loss of HK$115,861,000 in the same period of 2018[128]. - Gross loss for the period was HK$16,783,000, compared to a gross loss of HK$16,295,000 in the previous year[128]. User Engagement and Market Expansion - User data showed an increase in active users by Z%, reaching a total of A million users as of June 30, 2019[11]. - New product launches are expected to contribute an additional C million in revenue, with anticipated market expansion into D regions[11]. - The company plans to enhance its digital marketing strategies, targeting a G% increase in online engagement[11]. - The company continues to explore new strategies for market expansion and product development to improve future performance[197]. Operational Efficiency and Cost Management - The management emphasized a focus on improving operational efficiency, aiming for a reduction in costs by F% by the end of 2019[11]. - The Group is focusing on cost control to improve overall competitiveness and corporate efficiency amid ongoing challenges in the business environment[60]. - The Group plans to enhance its existing business by expanding its product portfolio and improving efficiency, including providing gamma ray irradiation technology to other industries[59]. Investments and Acquisitions - Strategic acquisitions are being considered to enhance market presence, with potential targets identified in the E sector[11]. - The Group completed the acquisition of two outdoor advertisement and media companies, gaining exclusive operating rights to media and advertising on 25 GSCR trains[16]. - The Company agreed to purchase the entire issued share capital of Hong Kong Made and Ample Success for an aggregate consideration of HK$50,000,000, satisfied by the allotment of 250,000,000 Shares at HK$0.200 per Share[72]. Financial Position and Liabilities - Total assets as of 30 September 2019 were approximately HK$413,532,000, while net liabilities were approximately HK$373,482,000, compared to HK$261,880,000 and HK$364,456,000 respectively as of 31 March 2019[63]. - The Group reported net liabilities of approximately HK$373,482,000 as of 30 September 2019, an increase from HK$364,456,000 as of 31 March 2019[150]. - The Group's current liabilities exceeded current assets by approximately HK$649,564,000, compared to HK$541,673,000 as of 31 March 2019[150]. - The management is in discussions with major creditors to extend loans, with potential repayment through equity[152]. - There are significant uncertainties regarding the Group's ability to continue as a going concern, which may affect asset realizations and liability discharges[158]. Employee and Corporate Governance - As of September 30, 2019, the Group employed 66 employees, a decrease from 161 employees as of September 30, 2018[89]. - Staff costs for the six months ended September 30, 2019, amounted to approximately HK$7,387,000, down from HK$12,961,000 for the same period in 2018, indicating a reduction of about 43%[89]. - The Board does not recommend the payment of any interim dividend for the six months ended September 30, 2019, consistent with the previous year where no dividend was paid[91]. - Following the resignation of Mr. Chan Chi Yuen on September 18, 2019, the Audit Committee was left with only two members, failing to meet the minimum requirement of three members[109]. - The company fell below the minimum number of independent non-executive directors required by the Listing Rules after Mr. Han Chunjian's retirement on September 30, 2019, leaving only two independent non-executive directors[112]. Legal and Compliance Issues - The Company is involved in ongoing litigation regarding a claim of HKD 11,263,888.89 related to alleged outstanding principal and interest from 2013[87]. - Yota is undergoing liquidation, and the Company is collaborating with the liquidator to manage Yota's assets and liabilities[88]. - The Company has no intention to cease sales and distribution of mobile and multimedia business despite Yota's liquidation[88]. Accounting and Financial Reporting - The unaudited condensed consolidated interim financial statements were prepared in accordance with the Hong Kong Accounting Standard 34[144]. - The Company adopted HKFRS 16 from April 1, 2019, which requires all leases to be capitalized, impacting the accounting treatment of leases significantly[162]. - The cumulative effect of adopting HKFRS 16 was recognized as an adjustment to the opening balance of equity at April 1, 2019[162]. - The right-of-use asset is measured at cost, including the initial lease liability, any lease payments made before the commencement date, and initial direct costs incurred[168].

Smartphone Industry Challenges - The smartphone industry in China faced significant challenges, with total smartphone shipments declining by 15.5% year-on-year in 2018, and this trend is expected to continue [16]. - Smaller smartphone manufacturers are exiting the market due to intense competition, contributing to the poor performance of the smartphone sector [11]. - The saturation of the smartphone market and excessive inventory among retailers have negatively impacted market performance [11]. - The smartphone market in China is highly competitive, with numerous players and new entrants, necessitating continuous product upgrades and innovative features to attract customers and build loyalty [69]. Group's Business Strategy - The Group's strategy focuses on leveraging EPD and dual-screen technologies to create a scalable mobile and multimedia advertising platform, starting with the launch of the Yota 3 device [15]. - The Group aims to further develop its multimedia and technology-focused business in response to market challenges [14]. - The Group is exploring new advertising formats and media displays, including transport advertising, to enhance its multimedia technology offerings [13]. - The Group plans to engage an ODM for manufacturing the Xinhua 99 mobile devices and will handle after-sales services post-launch [20]. - The Group will focus on penetrating the B2B smartphone market and allocate more resources on the licensing model through cooperation with local governments and state-owned enterprises in China [27]. - The Group intends to adopt a cautious approach in the volatile mobile hardware market while focusing on asset-light and technology-driven business [107]. Financial Performance - The revenue from the mobile and multimedia technologies segment was approximately HK$34,610,000, a decrease from approximately HK$40,925,000 in 2018 [24]. - The segment loss for mobile and multimedia technologies was approximately HK$1,180,876,000, compared to a loss of approximately HK$146,999,000 in 2018 [24]. - The Group recorded a revenue of approximately HK$44,580,000 for the year, representing a decrease of approximately 16.64% compared to HK$53,482,000 in 2018 [102]. - The loss for the year amounted to approximately HK$1,305,950,000, a significant increase from HK$299,694,000 in 2018 [102]. - Revenue from the mobile business was HK$34,610,000, down 15.43% from HK$40,925,000 in 2018, primarily due to weak customer sentiment amid the US-China trade tensions [105]. - The loss in the mobile business segment increased by 731.61% to HK$1,180,876,000 in 2019 from HK$141,999,000 in 2018 [105]. Impairments and Liabilities - The Group recognized an impairment of investments in associates of approximately HK$331,352,000 and amounts due from associates of approximately HK$610,077,000 [24]. - The total net liabilities of Yota Group were approximately HK$760,282,000, exceeding the shareholder loans of approximately HK$633,551,000 provided by the Company [24]. - The Group recognized an impairment of goodwill in the mobile technologies business segment of approximately HK$9,316,000 [29]. - The Group recognized a goodwill impairment loss of approximately HK$78,800,000 in the travel and leisure segment due to the carrying amount exceeding its recoverable amount [39]. - The Group's net current liabilities were approximately HK$541,673,000 and net liabilities were approximately HK$364,456,000 as of March 31, 2019, indicating significant financial uncertainty [142]. Economic and Market Environment - The overall business environment is anticipated to be more challenging in the upcoming year due to ongoing US-China trade tensions and economic uncertainties [14]. - The impact of global trade disputes and protectionism has increased uncertainties and risks for economic development, particularly affecting the Chinese and US economies [10]. - The ongoing US-China trade war and slowing Chinese economy are expected to negatively impact the growth of the tourism industry in Hong Kong [42]. - The Group faces intense competition in the tourism and hospitality sector, prompting exploration of new business opportunities and strategic partnerships to enhance competitiveness [76]. Corporate Governance and Management - The Group has complied with relevant laws and regulations that significantly impact its business operations [87]. - The Group maintains ongoing communication with employees, customers, and business partners to enhance relationships and gather feedback [96]. - The Group encourages continuous professional development for employees and Directors to keep abreast of industry changes and regulatory requirements [94]. - The Group's core business strategy is diversification, focusing on long-term sustainable growth and enhancing shareholder value through attractive investment opportunities [99]. Environmental and Social Responsibility - The Group is committed to environmental protection, implementing policies to minimize business impact on the environment and promoting resource conservation initiatives [86]. - The Group has implemented resource-saving measures, including paper recycling and energy conservation, to minimize environmental impact and promote sustainability [89]. Future Plans and Opportunities - The Group plans to explore new business lines in tourism, including hotels and package tours, to expand revenue streams [102]. - New business lines, such as advertising platforms on high-speed trains, are anticipated to generate additional revenue and improve profitability [145]. - The Group is seeking further collaboration and acquisition opportunities in the travel and leisure sector to streamline resources and product offerings [38]. Legal and Financial Issues - The auditors expressed a disclaimer of opinion on the Company's going concern in the consolidated financial statements due to significant doubt about the Group's ability to meet financial obligations [88]. - The Group's cash flow forecast extends to 31 March 2020, but uncertainties surrounding future cash flows raise significant doubts about its ability to continue as a going concern [88]. - The company is currently involved in ongoing litigation regarding the breach of the lock-up commitment by three placers, with a total of 1,667,000,000 shares under restriction [128]. - A creditor has initiated legal action to recover outstanding debts under the Placing Notes, amounting to a principal of HK$10,000,000 and approximately HK$1,264,000 in outstanding interest [131].