有關根據特別授權 發行代價股份之 補充協議 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，並明確表示概不就因本公告全部或任何部分內容而產生 或因倚賴該等內容而引致之任何損失承擔任何責任。 茲提述本公司於二零二五年五月十三日及二零二五年六月二十日有關本公司股份重組之公告 及通函，其中包括將每 20 股已發行股份合併為 1 股合併股份（「股份合併」）。股份合併已 於二零二五年七月九日生效。 根據國信協議，發行國信代價股份予國信賣方之數目為 148,936,170 新股。由於股份合併，將 要發行的國信代價股份數量需通過除以 20 進行調整。因此，於 2025 年 7 月 31 日，公司與國 信供應商簽訂了補充協議（「補充協議」），其中包括將發行國信代價股份的數量修訂為 7,446,808 股，並將最後期限延長至 2025 年 9 月 30 日。 除補充協議所修訂的內容外，國信協議的所有其他條款及條件維持不變，並在各方面完全 有效。 承董事會命 資本界金控集團有限公司 主席 鄧東平 於本公告日期，董事會包括執行董事陳昌義先生及陳耀彬先生；非執行董事鄧東平 ...

NOTIFICATION LETTER 通 知 信 函 Dear non-registered shareholder (Note 1) , 30 July 2025 The following document(s) of Capital Realm Financial Holdings Group Limited (the "Company") has/have been prepared in English and Chinese and is/are available on the websites of the Company at www.00204.com.hk and The Stock Exchange of Hong Kong Limited at www.hkexnews.hk (collectively the "Websites"):- CAPITAL REALM FINANCIAL HOLDINGS GROUP LIMITED 資 本 界 金 控 集 團 有 限 公 司 (Incorporated in the Cayman Islands and continued in B ...

(Incorporated in the Cayman Islands and continued in Bermuda with limited liability) （於開曼群島註冊成立並於百慕達續存之有限公司 （Stock Code 股份代號：204） NOTIFICATION LETTER 通 知 信 函 CAPITAL REALM FINANCIAL HOLDINGS GROUP LIMITED 資 本 界 金 控 集 團 有 限 公 司 各位登記股東： Dear registered shareholder(s), 30 July 2025 The following document(s) of Capital Realm Financial Holdings Group Limited (the "Company") has/have been prepared in English and Chinese and is/are available on the websites of the Company at www.00204.com.hk and The Stock Exchange ...

2025 Annual Report 年報 2025 ANNUAL REPORT 年 報 C M Y CM MY CY CMY K Captial Realm Financial AR2025 Cover V02A 11.5mm OP.pdf 1 29/7/2025 上午10:54 CONTENTS 目錄 | Corporate Information | 2 | | --- | --- | | 公司資料 | | | Financial Highlights | 6 | | 財務摘要 | | | Management Discussion and Analysis | 7 | | 管理層討論與分析 | | | Biographical Details of Directors and Senior Management | 11 | | 董事及高級管理層履歷 | | | Report of the Directors | 16 | | 董事報告 | | | Environmental, Social and Governance Report | 39 | | 環境、社會及管治報告 | | | Corpora ...

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，並明確表示概不就因本公告全部或任何部分內容而產生或因 倚賴該等內容而引致之任何損失承擔任何責任。 CAPITAL REALM FINANCIAL HOLDINGS GROUP LIMITED 資本界金控集團有限公司 | | | 二零二五年 | 二零二四年 | | --- | --- | --- | --- | | | 附註 | 千港元 | 千港元 | | 其他全面收益 ╱（開支） | | | | | 不會重新分類至損益之項目： | | | | | — 按公平值計入在其他全面收益處理之 | | | | | 財務資產之公平值變動 | | – | (11,798) | | 其後可能重新分類至損益之項目： | | | | | — 換算中國附屬公司財務報表產生之 | | | | | 匯兌差額 | | 267 | (1,553) | | 本年度其他全面收益 ╱（開支），扣除稅項 | | 267 | (13,351) | | 本公司擁有人應佔本年度全面開支總額 | | (155,533) | (42,078) | ...

Wind实时监测数据显示，传媒、银行、国防军工、轻工制造4行业均获得超20亿元主力资金净流入，综 合、汽车、家用电器、电子等也获得超亿元净流入，纺织服饰则连续18日获得净流入。基础化工主力资 金净流出逾31亿元，电力设备、公用事业、有色金属、非银金融也都净流出超10亿元。 今日，A股整体小幅震荡调整，此前连续创历史新高的北证50指数回撤较多，跌逾6%，大盘蓝筹股较 为抗跌，上证50指数小幅飘红。超4500只个股下跌，成交萎缩至1.14万亿元。 太平洋证券称，盘面量能仍显不足，预计市场延续震荡中轮动上涨，预计这种现象将持续直至量能有效 突破1.5万亿元。权重股表现好于小盘，轮动的态势明显。预计后续科技、红利、消费等板块将轮动上 涨。 盘面上，国防军工、银行、游戏、石油化工等板块涨幅居前，次新股、医疗美容、固态电池、宠物经济 等板块跌幅居前。个股方面，昨日"地天板"后，南京港（002040）今日一度再次走出"地天板"行情。 华泰证券表示，游戏监管层面持续释放积极信号，游戏版号发放"大力度+常态化"，游戏市场有望延续 增长。伴随着重点产品版号持续获批上线，行业供给侧持续向好，有望促进游戏行业持续繁荣。 银行股今日又 ...

场内约3600股飘绿，多只高位股异动，成飞集成午后跌停，中毅达午后快速跳水，盘中上演"天地板"走 势；王子新材、南京港则双双上演"地天板"走势；黄金概念活跃，莱绅通灵、西部黄金涨停；固态电池 概念爆发，宁新新材、领湃科技等涨停，宁德时代涨超4%；创新药概念再度走强，舒泰神20%涨停， 三生国健涨停斩获3连板；煤炭股拉升，大有能源涨停，山煤国际、晋控煤业涨约6%。 港股方面，截至收盘，恒生指数涨0.62%，恒生科技指数涨0.51%。个股方面，紫金矿业涨约8%，比亚 迪股份、理想汽车等涨超4%；泡泡玛特涨3.75%，盘中一度涨近6%，最高至220港元/股，续创历史新 高。20日登陆港交所的宁德时代今日延续强势，收盘大涨超10%。 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 多只高位股异动。 5月21日，A股维持震荡上扬态势，创业板指一度涨超1%，北证50指数盘中再创新高；港股跟随A股步 伐，维持震荡整理走势。 具体来看，A股三大股指盘中集体上扬，创业板指较为强势。截至收盘，沪指涨0.21%报3387.57点，深 证成指涨0.44%报10294.22点，创业板指涨0.83%报2065. ...

Financial Performance - The company reported a loss attributable to shareholders of approximately HKD 10,597,000 for the period, compared to a profit in the same period last year[40]. - The group reported a revenue of HKD 7,629,000 for the six months ended September 30, 2024, compared to HKD 4,715,000 in the same period of 2023, representing a year-over-year increase of approximately 62.5%[79]. - The group experienced a net loss attributable to shareholders of HKD 10,597,000 for the six months ended September 30, 2024, compared to a profit of HKD 20,357,000 in the same period of 2023, indicating a significant decline in performance[79]. - The total comprehensive income for the period is HKD 8,003,000, which includes a loss of HKD 10,597,000[86]. - The company reported a total loss of HKD 451,946,000 as of September 30, 2024, compared to a loss of HKD 393,426,000 as of March 31, 2024[86]. Assets and Liabilities - The group reported a total liabilities of HKD 36,707,000 as of September 30, 2024, compared to HKD 142,576,000 as of March 31, 2024, indicating a significant reduction[15]. - The group’s total assets decreased to HKD 312,872,000 as of September 30, 2024, down from HKD 361,618,000 as of March 31, 2024, indicating a decline of about 13.5%[83]. - The company’s total assets as of September 30, 2024, amounted to HKD 111,415,000[115]. - The company’s total liabilities increased to HKD 451,946,000 as of September 30, 2024, from HKD 393,426,000 as of March 31, 2024[86]. Investments - The group has invested approximately HKD 116,058,000 in other financial assets, up from HKD 83,347,000 as of March 31, 2024, reflecting a growth of 39.3%[4]. - The group holds two major investments in non-listed companies, with Guangdong Juhong Technology Co., Ltd. valued at HKD 56,343,000 (6% of total assets) and Guangdong Yizhong Information Technology Co., Ltd. valued at HKD 59,715,000 (14.2% of total assets)[8]. - The fair value of listed equity securities held by the group increased to HKD 111,415,000 as of September 30, 2024, from HKD 103,068,000 as of March 31, 2024, reflecting a growth of 12.9%[114]. - The company holds 85,500,000 shares in Tianhuo Cultural Media Group Limited, representing a 19.7917% stake, with a market value of HKD 47,025,000[115]. - The company’s investment in International Genius Company has a market value of HKD 76,990,000, with a fair value gain of HKD 63,209,000[120]. Cash Flow and Liquidity - As of September 30, 2024, the group's cash and cash equivalents amounted to approximately HKD 7,169,000, a decrease from approximately HKD 16,166,000 as of March 31, 2024[48]. - The net cash generated from operating activities for the six months ended September 30, 2024, is HKD 22,270,000, compared to a net cash outflow of HKD 7,495,000 for the same period in 2023[88]. - Cash and cash equivalents decreased by HKD 8,997,000 during the six months ended September 30, 2024, compared to an increase of HKD 3,907,000 in the same period of 2023[88]. Expenses - Administrative expenses decreased by approximately 31.89% to HKD 8,253,000, mainly due to a reduction in foreign exchange losses[44]. - Financial costs decreased by approximately 65.79% to HKD 523,000, primarily due to a reduction in bond interest expenses[46]. - The total employee costs, including directors' remuneration, were approximately HKD 2,258,000 for the period, down from HKD 3,010,000 in the previous year[65]. - Employee benefit expenses, including directors' remuneration, decreased to HKD 2,258,000 in 2024 from HKD 3,010,000 in 2023, a decrease of 25.0%[99]. Share Capital - The group has a total of 864,789,718 issued ordinary shares as of September 30, 2024, unchanged from March 31, 2024[1]. - The average number of ordinary shares outstanding increased to 864,789,718 in 2024 from 454,924,658 in 2023, indicating a significant increase in share count[108]. - The company issued 172,940,000 ordinary shares at a price of HKD 0.237 per share, raising approximately HKD 39.8 million[30]. Credit Loss Provisions - The expected credit loss provision for other financial assets remains constant at HKD 12,446,000[5]. - The expected credit loss impairment for the period was HKD 10,770,000, compared to zero in the previous period[42]. - The expected credit loss provision for the period was HKD 32,068,000, resulting in a net amount of HKD 78,230,000 after provisions[136]. - The estimated loss provision for potential investments and other receivables at the end of the reporting period is approximately HKD 68,481,000, equivalent to 12 months of expected credit loss[137]. Corporate Governance - The company has complied with the corporate governance code, with no significant events related to business or financial performance identified since the end of the reporting period[24]. - The company has not adopted any new or revised Hong Kong Financial Reporting Standards that would have a significant impact on its financial position or performance during the period[94].

Financial Performance - For the six months ended September 30, 2024, the company reported a net loss of HKD 10,597,000 compared to a profit of HKD 20,357,000 in the same period of 2023, representing a significant decline [4]. - Total comprehensive loss for the period was HKD 8,003,000, a decrease from a comprehensive income of HKD 11,787,000 in the prior year [8]. - Basic and diluted loss per share for the period was HKD (1.23), a decrease from earnings of HKD 4.47 per share in the prior year [9]. - The company reported a loss attributable to shareholders of approximately HKD 10,597,000 for the period, compared to a profit in the same period last year [47]. - Earnings per share for the period were HKD 0.0123 loss, a decrease from HKD 0.0447 profit in the previous year [47]. Revenue and Income - The company recorded other income of HKD 7,629,000, up from HKD 4,715,000 in the previous year, indicating a year-over-year increase of approximately 62.5% [4]. - Total revenue and other income for the six months ended September 30, 2024, was HKD 7,629,000, compared to HKD 4,715,000 for the same period in 2023, representing a 61.0% increase [20]. - Dividend income from listed investments decreased to HKD 3,366,000 from HKD 4,711,000, a decline of 28.6% [20]. - Foreign exchange gains amounted to HKD 4,259,000, contributing to the overall revenue increase [20]. - Other income increased by approximately 61.8% to HKD 7,629,000 for the six months ended September 30, 2024, primarily due to an increase in foreign exchange gains [48]. Assets and Liabilities - Non-current assets decreased from HKD 159,083,000 as of March 31, 2024, to HKD 93,957,000 as of September 30, 2024, reflecting a decline of approximately 41% [11]. - Current assets decreased from HKD 361,618,000 to HKD 312,872,000, indicating a reduction of about 13.5% [11]. - The company's cash and cash equivalents decreased from HKD 16,166,000 to HKD 7,169,000, a decline of approximately 55.6% [11]. - Total liabilities increased from HKD 378,125,000 to HKD 370,122,000, showing a slight decrease of about 2.7% [11]. - The total non-current assets as of September 30, 2024, were HKD 1,185,000, compared to HKD 1,369,000 as of March 31, 2024, indicating a decrease [18]. Financial Costs and Expenses - Employee benefits expenses, including directors' remuneration, decreased to HKD 2,258,000 from HKD 3,010,000, a reduction of 25.0% [22]. - Interest expenses on bonds decreased to HKD 523,000 from HKD 1,477,000, a decline of 64.6% [20]. - Administrative expenses decreased by approximately 31.89% from HKD 12,117,000 for the six months ended September 30, 2023, to approximately HKD 8,253,000 for the six months ending September 30, 2024 [54]. - Financial costs decreased by approximately 65.79% from HKD 1,529,000 for the six months ended September 30, 2023, to approximately HKD 523,000 for the six months ending September 30, 2024 [55]. Shareholder Information - The company did not recommend an interim dividend for the six months ended September 30, 2024, consistent with the previous year [24]. - The net asset value per share as of September 30, 2024, was HKD 0.428, down from HKD 0.437 as of March 31, 2024 [44]. - The company issued 172,940,000 shares at HKD 0.237 per share, raising approximately HKD 39.8 million, equivalent to about 16.67% of the enlarged issued share capital [70]. Investment Strategy - The company held investments in various non-listed companies with growth potential during the period [46]. - The company’s investment strategy remains cautious, focusing on low-risk and reputable interest income investments [46]. Internal Controls and Compliance - The group plans to implement effective and compliant internal controls and strengthen its financial position to deliver substantial returns to shareholders [67]. - The company did not adopt any new or revised Hong Kong Financial Reporting Standards that would have a significant impact on its financial position or performance during the period [16]. Other Financial Metrics - The group's expected credit loss impairment, net of reversals, for the period was HKD 10,770,000, while it was zero for the six months ended September 30, 2023 [52]. - The group's cash and cash equivalents were approximately HKD 7,169,000 as of September 30, 2024, down from approximately HKD 16,166,000 as of March 31, 2024 [61]. - The current ratio as of September 30, 2024, was approximately 8.5, compared to 2.54 as of March 31, 2024 [61]. Board of Directors - The board of directors includes executive directors Mr. Chen Changyi and Mr. Chen Yaobin, and non-executive directors Mr. Han Zhenghai (co-chairman), Mr. Deng Dongping (co-chairman), Mr. Zhu Zhikun, Ms. Mo Xiuping, and Mr. Ge Zhifu [77]. - Independent non-executive directors include Ms. Mo Li, Mr. Shi Zhu, Ms. Chen Shunqing, and Mr. Ding Jiasheng [77].

Financial Performance - For the year ended March 31, 2024, the Group's revenue remained nil, unchanged from the previous year[17]. - The loss attributable to owners of the Company increased to approximately HK$28,727,000, up by approximately HK$5,925,000 or 25.98% compared to HK$22,802,000 in the previous year[17]. - The net asset value per share decreased to HK$0.437 as of March 31, 2024, down from HK$0.759 in 2023[17]. - Other income for the year ended March 31, 2024, was approximately HK$8,082,000, a decrease of approximately HK$2,249,000 or 21.77% from HK$10,331,000 in 2023[28]. - The net loss on financial assets at fair value through profit or loss for the year ended March 31, 2024, was approximately HK$787,000, compared to a net gain of approximately HK$2,518,000 in 2023[29]. - Impairment losses under the expected credit loss model for the year ended March 31, 2024, were approximately HK$1,619,000, a decrease of approximately HK$5,068,000 or 75.79% from HK$6,687,000 in 2023[36]. - Administrative and other expenses for the year ended March 31, 2024, amounted to approximately HK$32,482,000, representing an increase of approximately HK$6,350,000 or 24.30% from HK$26,132,000 in 2023[39]. - The Group's total staff costs for the year ended March 31, 2024, were approximately HK$6,776,000, an increase from HK$6,048,000 in 2023[38]. Financial Position - As of March 31, 2024, the Group had cash and cash equivalents of approximately HK$16,166,000, an increase from approximately HK$3,997,000 in 2023[19]. - The current ratio was approximately 2.54 as of March 31, 2024, down from 5.34 in 2023[19]. - The gearing ratio was approximately 15.77% as of March 31, 2024, slightly down from 16.15% in 2023[20]. - The Group's net current assets were approximately HK$219,042,000 as of March 31, 2024, compared to HK$225,346,000 in 2023[19]. - The total debts amounted to approximately HK$59,625,000 as of March 31, 2024, up from HK$44,185,000 in 2023[20]. - The debt total as of March 31, 2024, was approximately HK$59,625,000, up from HK$44,185,000 in 2023, resulting in a debt-to-equity ratio of approximately 15.77%[24]. - The Group's current assets net value and total assets net value were approximately HK$219,042,000 and HK$378,125,000 respectively, compared to HK$225,346,000 and HK$273,676,000 in the previous year[23]. Dividend and Shareholder Returns - The Board has decided not to declare a final dividend for the year[17]. - The Company did not recommend the payment of a dividend for the year ended 31 March 2024[93]. - As of March 31, 2024, the Company had approximately HK$222,564,000 in distributable reserves available for distribution to shareholders, an increase from HK$222,129,000 in 2023[151]. Investment Strategy - The Board has reassessed market conditions and plans to adopt a more active investment strategy, focusing on medium to long-term appreciation of listed securities[48]. - The Group aims to explore diversified investment opportunities across various industries while strengthening its financial situation to provide favorable returns to shareholders[49]. - The company has achieved net gains from its listed securities this year and plans to continue holding them for medium to long-term appreciation[51]. - The board has reassessed the recent market conditions and determined to adopt a more aggressive investment strategy moving forward[51]. - The group aims to explore more diversified investment opportunities across different industries in the new fiscal year[51]. - The company emphasizes the implementation of effective and compliant internal controls to enhance financial stability and provide substantial returns to shareholders[51]. - The Group's principal activities remain focused on investment for capital appreciation and investment in listed and unlisted securities, with no significant changes during the year[92]. - The Company continues to explore opportunities for market expansion and new investment strategies as part of its growth plan[94]. Capital Raising Activities - The Group raised approximately HK$54.1 million through a Rights Issue, with net proceeds of approximately HK$52.7 million after expenses[102]. - A total of 229,830,914 Rights Shares were applied for, representing approximately 63.77% of the total offered under the Rights Issue[102]. - The company successfully placed all 130,563,945 unsubscribed Rights Shares at a price of HK$0.150 per share, raising approximately HK$54.1 million[103]. - The net proceeds from the Rights Issue amounted to approximately HK$52.7 million after deducting all related expenses[105]. - The net proceeds from the Placing were approximately HK$92.5 million, which will be used for future investment opportunities, repayment of borrowings, and general working capital[109]. - The company completed the Placing of 144,000,000 shares at a price of HK$0.65 per share on 23 February 2024[110]. - Actual use of the net proceeds from the Rights Issue included HK$8.5 million for general working capital and HK$44.2 million for repayment of borrowings and finance costs[111]. - The maximum number of Placing Shares represented approximately 20% of the entire issued share capital of the company[116]. - The net proceeds from the previous Placing on 15 September 2022 were approximately HK$37.4 million, intended for future investment opportunities and general working capital[118]. - As of the latest practicable date, approximately HK$17.4 million of the previous Placing proceeds were used for a commercial bill in the public transport sector[122]. - The company plans to utilize the unutilized proceeds from the Placing for investments, repayment of borrowings, and general working capital[120]. Board and Management Changes - Mr. Deng Dongping appointed as deputy chairman of the Board since December 11, 2023, and joint chairman since January 22, 2024[66]. - Mr. Zhu Zhikun has extensive experience in multi-dimensional investments, particularly in mineral resources development and logistics information[67]. - Mr. Ge Zhifu appointed as deputy chairman of the Board since December 11, 2023, with a background in investment and education management[68]. - Mr. Lyu Ping has served as chairman of various cultural and legal committees, contributing to major projects in state-owned enterprise restructuring[69]. - Ms. Mo Xiuping has been appointed as non-executive Director since April 19, 2023, with a strong background in financial management and consulting[76]. - Ms. Mo Li serves as chairlady of the Remuneration Committee and has rich experience in financial and management business[80]. - The company has a diverse board with members holding significant positions in various industries, enhancing strategic decision-making capabilities[74]. - The board includes members with extensive legal and investment backgrounds, which may support future mergers and acquisitions[69][68]. - The company is focused on expanding its leadership in financial consulting and investment management through experienced directors[76]. - The appointment of young directors like Mr. Zhu Zhikun indicates a strategic move towards innovation and modern investment strategies[67]. - The Company has independent non-executive directors with extensive experience in finance and management, enhancing governance and oversight[86][88][87]. - The Company has undergone changes in its board of directors, with new appointments and redesignations occurring throughout the year[163]. Risk Management and Compliance - The company is exposed to various key risks including credit risk, interest rate risk, liquidity risk, operational risk, and market risk[131][133]. - The company has allocated resources to ensure compliance with regulatory requirements, including the Listing Rules and other relevant laws[137][142]. - The company values its relationships with key stakeholders, including shareholders and employees, to enhance corporate value[138][144]. - The company aims to provide competitive remuneration and career advancement opportunities to its employees[140][145]. - The Company has maintained strong relationships with its bankers, facilitating necessary funding as required[146]. - There are no major customers or suppliers for the Company, as it primarily engages in investments for capital appreciation in listed and unlisted securities[152]. Share Capital and Options - The total number of shares issued by the Company as of March 31, 2024, is 864,789,718[172]. - Directors' shareholdings include Mr. Han Zhenghai and Mr. Deng Dongping, each holding 1,110,900 shares, representing approximately 0.13% of the total shareholding[171]. - Mr. Zhu Zhikun holds 4,890,000 shares, accounting for approximately 0.57% of the total shareholding[171]. - Zhang Hai holds 25,614,000 shares (2.96%) and has an interest in a controlled corporation holding 87,359,945 shares (10.10%), totaling 112,973,945 shares (13.06%)[177]. - Infinite Apex International Corporation, beneficially owned by Zhang Hai, holds 87,359,945 shares (10.10%) in the company[177]. - Yitong Enterprise Group Holdings Limited holds 72,424,000 shares (8.37%) as a beneficial owner[177]. - Shuo Kang International Limited holds 58,144,000 shares (6.72%) as a beneficial owner[177]. - China Hui Shang Enterpriser Association International Group Limited holds 56,000,000 shares (6.48%) as a beneficial owner[177]. - Yang Weixu and Ng Yu hold 53,222,000 shares (6.15%) and 52,560,000 shares (6.08%) respectively[177]. - The maximum number of shares for options under the share option scheme is capped at 10% of the total shares in issue at the time of adoption[187]. - Any grant of options to substantial shareholders or directors that exceeds 0.1% of shares in issue or HK$5 million requires shareholder approval[188]. - The subscription price for options must be at least the higher of the closing price on the grant date or the average closing price for the preceding five business days[190]. - The Scheme Mandate Limit approved by shareholders on December 28, 2018, was 88,218,572 shares, refreshed to 19,064,785 shares on September 16, 2021[194]. - As of March 31, 2024, the outstanding share options were 2,903,174 shares after an increase of 826,427 shares due to the Rights Issue on August 11, 2023[200]. - During the financial year ended March 31, 2024, 1,110,900 share options lapsed, and no share options were exercised[200]. - The number of shares to be issued upon exercise of the outstanding First Granted Options increased to 3,888,148 shares due to the Rights Issue[195]. - The number of shares to be issued upon exercise of the outstanding Second Granted Options increased to 125,926 shares due to the Rights Issue[196]. - The exercise price for share options is determined by the board but cannot be lower than the closing price on the grant date or the average closing price over the preceding five trading days[193]. - The total outstanding share options at the beginning of the financial year was 3,187,647 shares[198]. - The share options can be exercised at any time within 10 years from the date they are granted[193]. - The company must obtain shareholder approval for granting options that exceed 0.1% of the issued shares within 12 months[192]. - The company requires independent non-executive director approval for granting options to directors or major shareholders[192].