格隆汇7月30日丨赛伯乐国际控股(01020.HK)公告，公司将于2025年8月29日举行董事会会议，藉以（其 中包括）考虑及批准公司及其附属公司截至2025年6月30日止六个月的未经审核中期业绩以及考虑派付 中期股息（如有）。 ...

（於開曼群島註冊成立之有限公司） （股份代號：1020） 董事會會議通告 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的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並表明概不會就本公佈全部或任何部分內容而產生或因依賴該等 內容而引致的任何損失承擔任何責任。 CYBERNAUT INTERNATIONAL HOLDINGS COMPANY LIMITED 賽伯樂國際控股有限公司 本公佈乃根據香港聯合交易所有限公司證券上市規則第13.43條而作出。 賽伯樂國際控股有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然宣佈，將 於二零二五年八月二十九（星期五）舉行董事會會議，藉以（其中包括）考慮及批准 本公司及其附屬公司截至二零二五年六月三十日止六個月之未經審核中期業績以 及考慮派付中期股息（如有）。 承董事會命 賽伯樂國際控股有限公司 主席 朱敏先生 香港，二零二五年七月三十日 於本公佈日期，執行董事為朱敏先生及葉芯瑜女士；以及獨立非執行董事為唐耀 安先生、李奕生先生、曹克先生及李錦榮先生。 ...

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的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 CYBERNAUT INTERNATIONAL HOLDINGS COMPANY LIMITED 有關截至2024年12月31日止年度之年報的 補充公告 茲提述賽伯樂國際控股有限公司 (「本公司」，與其附屬公司合稱「本集團」) 於2025年6月20日 刊發的截至2024年12月31日止年度的年報 (「年報」)。除文義另有所指外，本公告所使用的詞彙 與年報所界定者具有相同涵義。 除年報內所披露的資料外，本公司董事會 (「董事會」，各董事為「董事」) 謹此就年報董事會報 告部分中，「購股權計畫」及「購股權變動」分部提供進一步資料如下： 購股權計畫 截至年報日期 (即2025年6月20日) 為止，根據購股權計劃可能授出的所有購股權獲行使而可能將 予發行的本公司普通股最高數目為397,544,800股，佔本公司於年報日期已發行普通股 (不包括庫 存股份) 總數約9.74%。 截至2024年12月31日為止，可根 ...

Economic Outlook - In 2024, the global GDP growth rate is estimated to be approximately 3.1%, lower than pre-pandemic levels, with developed economies showing weak growth and emerging markets like India and Southeast Asia performing relatively strong [17]. - The U.S. economy is expected to achieve a full-year GDP growth rate of approximately 2.5%, supported by consumption and labor markets, although high interest rates are dampening business investments [17]. - The Euro area experienced a sluggish economic growth rate of only 0.7%, with major industrial countries like Germany falling into technical recessions due to energy price fluctuations and a shrinking manufacturing sector [17]. - The OECD predicts global economic growth of 3.2% in 2024, with emerging economies in Asia, particularly China, being major contributors [56]. - In 2024, China's GDP growth rate is projected at 5%, aligning with the official target set during the National People's Congress [60]. - The US economy is expected to perform best among G7 countries in 2024, driven by strong consumer spending despite high borrowing costs [57]. - The global public debt is expected to exceed US$100 trillion in 2024, accounting for 93% of global GDP, posing risks to long-term economic stability [55]. Company Performance and Strategy - Cybernaut International Holdings Company Limited has maintained a strategic direction of seeking changes while ensuring stability, leading to steady development across various businesses in 2024 [16]. - The company expresses gratitude to shareholders, customers, employees, and partners for their trust and support during a year filled with challenges and opportunities [16]. - The management discussion and analysis section of the annual report provides insights into the company's financial performance and strategic initiatives [6]. - The annual report includes a comprehensive overview of the company's governance, financial position, and future outlook [6]. - The company is focused on addressing the challenges posed by geopolitical fluctuations and intensified industry competition [16]. - The company is committed to enhancing its operational efficiency and exploring new market opportunities as part of its growth strategy [16]. Financial Performance - The Group recorded a gross profit of approximately RMB 19.3 million for the year ended December 31, 2024, with a gross profit margin of approximately 20.7%, compared to RMB 22.7 million and a margin of 20.3% in 2023 [88]. - The Group's loss for the year ended December 31, 2024, was approximately RMB 44.9 million, compared to a loss of approximately RMB 22.9 million in the previous year, with loss per share increasing from RMB 0.53 cents to RMB 0.90 cents [106]. - The revenue from the money lending business decreased by approximately 10.4% to RMB 18.3 million for the year ended December 31, 2024, down from RMB 20.4 million in 2023, attributed to a reduction in loan applications and new loans granted [74]. - The revenue from the eCommerce segment was approximately RMB 75.0 million for the year ended December 31, 2024, a decrease of approximately 17.8% compared to RMB 91.2 million for the year ended December 31, 2023, primarily due to reduced demand for refurbished second-hand iPhones [82]. - The Group's cost of sales decreased by approximately 16.8% from RMB 88.9 million in 2023 to approximately RMB 73.9 million in 2024, mainly due to decreased revenue from both the money lending and internet businesses [87]. Market Trends - The money lending business in Hong Kong is experiencing a "coexistence of challenges and opportunities" amid economic volatility and high interest rates [25]. - Demand for personal loans remains stable, driven by high inflation and living costs, with specific demographic groups relying on licensed money lenders [27]. - The financing gap for SMEs has widened as banks tighten credit, leading to increased demand for alternative financing solutions [28]. - The bad debt rate is rising due to deteriorating repayment capabilities of borrowers amid an economic slowdown [34]. - Over 7 million smartphone users in Hong Kong indicate a saturated market, with 5G users accounting for 70% in 2024, driving demand for new applications [35]. - The competition in the electric vehicle market is intensifying, with Chinese brands holding a 60% share globally [22]. - Online sales account for approximately 40% of total purchases, surpassing brick-and-mortar stores, with major platforms including Amazon and social e-commerce channels [39]. - The second-hand mobile phone market is growing as more consumers opt for refurbished devices amid economic downturns [39]. Regulatory and Compliance Issues - Regulatory trends indicate potential tightening in debt collection and anti-money laundering requirements, increasing compliance costs [30]. - Institutions in the education sector face high compliance costs due to policy uncertainties and a decrease in parents' payment capacity amid economic slowdowns [53]. Debt and Financing - The effective interest rate for the promissory notes (PNs) remains at 16.69% per annum, despite amendments to the terms of the PNs [165][168]. - The Group's finance costs were approximately RMB 37.3 million for the year ended December 31, 2024, reflecting a decrease due to changes in the terms of promissory notes [97]. - The average effective interest rate for loans as of December 31, 2024, ranged from 6% to 18% per year, down from 6% to 24% in 2023 [75]. - The Group has pledged assets with a book value of approximately RMB 6.9 million as collateral for notes payable totaling approximately RMB 185.4 million [122]. Shareholder and Investment Activities - The company plans to resume trading of its shares on June 23, 2025, following the announcement of its audited financial performance for the year ending December 31, 2024 [3]. - The Group did not recommend the payment of a final dividend for the year ended December 31, 2024, consistent with the previous year [107]. - The Group had no significant investments as of December 31, 2024, remaining unchanged from the previous year [115]. - The company agreed to acquire 100% of the issued shares in Newsbaba LTD for a consideration of HK$120,533,400, with a potential earn-out adjustment not exceeding HK$40,000,000 [199].

Economic Growth - In 2024, the global GDP growth rate is estimated at approximately 3.1%, with developed economies showing weak growth and emerging markets like India and Southeast Asia performing relatively strong [14]. - The U.S. GDP growth rate for the full year was approximately 2.5%, supported by consumption and labor markets, despite high interest rates dampening business investments [14]. - The Euro area experienced a low economic growth rate of only 0.7%, with major industrial countries like Germany falling into technical recessions due to energy price fluctuations [14]. - China's economic growth slowed to around 5% due to the real estate crisis and insufficient domestic demand, despite increased fiscal stimulus from the government [17]. - Emerging markets such as India and Vietnam recorded economic growth exceeding 6%, driven by supply chain shifts and manufacturing investments [17]. - The OECD predicts global economic growth of 3.2% in 2024, with emerging economies in Asia, particularly China, expected to contribute significantly to this growth [54]. - The US economy is projected to be the best-performing developed country in the G7 in 2024, driven by strong consumer spending despite high borrowing costs [55]. - Hong Kong's real GDP grew by 3.2% in 2023, followed by a moderate growth of 2.5% in 2024 [59]. Inflation and Interest Rates - Global inflation moderated from highs in 2022-2023, with U.S. and European CPI declining to 3-4%, although inflation remained sticky due to volatile energy prices and upward wage pressures [17]. - The Federal Reserve started cutting interest rates in mid-2024, with a total of 2-3 cuts expected throughout the year [17]. - The European Central Bank followed the rate cuts cautiously due to persistent service sector inflation [17]. - Japan ended its negative interest rate policy in March 2024 and began a cycle of slow interest rate hikes [17]. - The Hong Kong Monetary Authority maintained the base rate at 5.25%, indicating potential high interest rates for the foreseeable future [63]. Financial Performance - The Group's loss for the year ended December 31, 2024, was approximately RMB 44.9 million, compared to a loss of approximately RMB 22.9 million in the previous year, with loss per share increasing from RMB 0.53 to RMB 0.90 [104]. - The money lending business revenue decreased by approximately 10.4% to RMB18.3 million for the year ended December 31, 2024, down from RMB20.4 million in 2023, attributed to a reduction in loan applications and new loans granted [72]. - The Group recorded a gross profit of approximately RMB19.3 million for the year ended December 31, 2024, with a gross profit margin of approximately 20.7%, compared to RMB22.7 million and a margin of 20.3% in 2023 [86]. - Administrative expenses increased by approximately 13.1% from RMB 27.0 million in 2023 to RMB 30.6 million in 2024, mainly due to higher adjusted salaries and legal fees [94]. - The Group's bank balances and cash decreased from approximately RMB 32.3 million in 2023 to approximately RMB 26.5 million in 2024 [106]. - Total equity of the Group as of December 31, 2024, was approximately RMB 81.8 million, down from approximately RMB 120.5 million in 2023 [111]. Market Trends - The money lending business in Hong Kong is experiencing a "coexistence of challenges and opportunities" amid economic volatility and high interest rates [24]. - Demand for personal loans remains stable, driven by high inflation and living costs, with borrowers increasingly turning to licensed financial companies [25]. - The financing gap for SMEs has widened as banks tighten credit, leading to increased demand for alternative financing solutions [26]. - The bad debt rate is rising due to deteriorating repayment capabilities of borrowers amid an economic slowdown [32]. - Over 7 million smartphone users in Hong Kong indicate a saturated market, with a prolonged replacement cycle now exceeding 3 years [33]. - 5G users accounted for 70% in 2024, driving demand for applications such as cloud gaming and AR/VR [33]. - The second-hand mobile phone market is growing as more consumers opt for refurbished devices due to economic downturns [37]. - Demand for high-end smartphones remains stable, particularly for iPhone and Samsung Galaxy series, although consumers are becoming more price-sensitive [37]. Regulatory Environment - Regulatory tightening may occur in debt collection and anti-money laundering, increasing compliance costs for financial institutions [28]. - Institutions in the after-school tutoring industry are expected to adapt to compliance and explore new opportunities in quality education and technology empowerment [48]. - The online after-school tutoring services in China have been suspended since July 2021 due to regulatory changes, with plans to resume operations once restructuring is complete [68]. Debt and Financing - The global public debt is expected to exceed US$100 trillion in 2024, accounting for 93% of global GDP, posing risks to long-term economic stability [53]. - The IMF forecasts that the global public debt will exceed $100 trillion by the end of 2024, accounting for 93% of global GDP [56]. - The Group has pledged properties with a book value of approximately RMB 6.9 million as collateral for notes payable totaling approximately RMB 185.4 million [120]. - The Group's gearing ratio increased to approximately 53% in 2024 from 48% in 2023, calculated based on total debt divided by total assets [115]. - The Group's asset-liability ratio was approximately 53%, up from 48% in 2023 [120]. E-commerce and Technology - Approximately 40% of mobile phone sales are conducted online, surpassing brick-and-mortar stores, with major platforms including Amazon and social e-commerce sites like Carousell [37]. - The mobile phone e-commerce market in Hong Kong has entered a "zero-sum competition" phase, relying on new technologies and sustainable consumption trends for growth [39]. - Supply chain risks, including the Sino-U.S. technology war, may impact chip supply and mobile phone import prices [43]. - The emergence of digital loan platforms is compressing the space for traditional small finance companies, enhancing competition [28]. Corporate Actions - The company expressed gratitude to shareholders, customers, employees, and partners for their trust and support during a challenging year [14]. - The Group's money lending subsidiary, Time Credit Limited, focuses on first mortgage property loans, primarily serving high-net-worth clients [64]. - The Group does not recommend the payment of a final dividend for the year ended December 31, 2024, consistent with the previous year [105]. - The Group had no significant investments as of December 31, 2024, consistent with the previous year [113]. - The company agreed to acquire 100% of the issued shares in Newsbaba LTD for a consideration of HK$120,533,400, with potential earn-out adjustments not exceeding HK$40,000,000 [197][200].

Economic Outlook - In 2024, the global GDP growth rate is estimated at approximately 3.1%, lower than pre-pandemic levels, with developed economies showing weak growth and emerging markets like India and Southeast Asia performing relatively strong [17]. - The U.S. economy's full-year GDP growth rate was approximately 2.5%, supported by consumption and labor markets, although high interest rates dampened business investments [17]. - The Euro area experienced a growth rate of only 0.7%, with major industrial countries like Germany falling into technical recessions due to energy price fluctuations and a shrinking manufacturing industry [17]. - The OECD predicts global economic growth of 3.2% in 2024, with emerging economies in Asia, particularly China, being major contributors [56]. - The US economy is expected to perform best among G7 countries in 2024, driven by strong consumer spending despite high borrowing costs [57]. - In 2024, China's GDP growth rate is projected to be 5%, aligning with the official target set during the National People's Congress [60]. - Hong Kong's economy is expected to grow moderately by 2.5% in 2024, following a growth of 3.2% in 2023 [61]. - The global public debt is expected to exceed US$100 trillion in 2024, accounting for 93% of global GDP, posing risks to long-term economic stability [55]. Company Performance and Strategy - Cybernaut International Holdings Company Limited has adhered to a strategic direction of seeking changes while maintaining stability, resulting in steady development across various businesses [16]. - The company expressed gratitude to shareholders, customers, employees, and partners for their trust and support during a challenging year [16]. - The management discussion and analysis section of the annual report provides insights into the company's performance and strategic initiatives [6]. - The company plans to continue focusing on market expansion and new product development to adapt to the changing economic landscape [16]. - The financial performance for the year ending December 31, 2024, will be detailed in the annual report, which complies with the Hong Kong Stock Exchange regulations [2]. - The company has undergone changes in its executive team, with resignations and new appointments in key positions [7]. - The company is committed to enhancing corporate governance and maintaining transparency in its operations [6]. Money Lending Business - In 2024, the money lending business in Hong Kong faced a "coexistence of challenges and opportunities" amid economic volatility and high interest rates, indicating potential for growth if compliance, technology, and risk management are balanced [25]. - Demand for personal loans remained stable, driven by high inflation and living costs, with specific demographic groups like new immigrants and freelancers relying on licensed money lenders [27]. - The financing gap for SMEs widened as banks tightened credit, making it more difficult for them to obtain traditional loans, leading to increased demand for alternative financing solutions [28]. - The bad debt rate is rising due to deteriorating repayment capabilities of borrowers amid an economic slowdown, posing a risk to the lending business [34]. - The money lending subsidiary, Time Credit Limited, primarily generated revenue through first mortgage property loans, focusing on high-net-worth clients [66]. - The money lending business revenue decreased by approximately 10.4% to RMB18.3 million for the year ended December 31, 2024, down from RMB20.4 million in 2023, attributed to a reduction in loan applications and new loans granted [74]. Technology and Market Trends - The smartphone penetration rate in Hong Kong is over 7 million users, indicating a saturated market, with a prolonged replacement cycle now exceeding 3 years [35]. - 5G users accounted for 70% in 2024, driving demand for applications such as cloud gaming and AR/VR, presenting opportunities for e-commerce growth [35]. - The emergence of digital loan platforms like WeLend and Monexo has compressed the space for traditional small finance companies, increasing competition in the lending market [30]. - Regulatory trends indicate potential tightening, with increased scrutiny on debt collection and anti-money laundering requirements, raising compliance costs for lenders [30]. - The mobile phone e-commerce market in Hong Kong has entered a "zero-sum competition" phase, relying on new technologies and sustainable consumption trends for growth [41]. - Supply chain and geopolitical risks, including the Sino-U.S. technology war, may impact chip supply and mobile phone import prices [45]. Financial Performance - The Group recorded a gross profit of approximately RMB19.3 million for the year ended December 31, 2024, with a gross profit margin of approximately 20.7%, compared to RMB22.7 million and a margin of 20.3% in 2023 [88]. - The Group's loss for the year ended December 31, 2024, was approximately RMB44.9 million, compared to a loss of approximately RMB22.9 million in the previous year, with loss per share increasing from RMB0.53 to RMB0.90 [106]. - Administrative expenses increased by approximately 13.1% from RMB27.0 million in 2023 to RMB30.6 million in 2024, mainly due to higher adjusted salaries and legal fees [96]. - The Group's finance costs were approximately RMB37.3 million for the year ended December 31, 2024, reflecting a decrease due to changes in the terms of promissory notes [97]. - The total equity of the Group as of December 31, 2024, was approximately RMB81.8 million, a decrease from approximately RMB120.5 million in 2023 [113]. - The Group's asset-liability ratio was approximately 53%, up from 48% in 2023 [122]. - The Group's cost of sales decreased by approximately 16.8% from RMB88.9 million in 2023 to approximately RMB73.9 million in 2024, mainly due to decreased revenue from both the money lending and internet businesses [87]. Legal and Compliance Matters - The Group has not provided any guarantees to companies outside of the Group nor is it involved in any current material legal proceedings as of December 31, 2024 [131]. - The company confirmed compliance with all requirements under Chapter 14A of the Listing Rules regarding related party transactions, which were fully exempt from shareholders' approval [198]. - VT Zero Limited, a wholly-owned subsidiary, is involved in litigation claiming approximately HK$26.23 million for outstanding sales proceeds and HK$36.93 million for late remittance payments [125]. - The trial for the litigation against VT Zero is scheduled for early July 2026, with the court having dismissed the Plaintiff's applications for interim payment [129].

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Financial Performance - Revenue for the six months ended June 30, 2024, was RMB 44,505,000, an increase from RMB 34,068,000 in the same period of 2023, representing a growth of 30.0%[4]. - Gross profit decreased to RMB 9,117,000 from RMB 12,699,000 year-on-year, reflecting a decline of 28.8%[4]. - Loss before taxation for the period was RMB 22,803,000, compared to a loss of RMB 20,719,000 in the previous year, indicating a worsening of 10.1%[4]. - Total comprehensive expense for the period was RMB 21,120,000, significantly higher than RMB 10,649,000 in the same period last year, marking an increase of 98.3%[4]. - Loss per share for the period was RMB 0.45 cents, compared to RMB 0.43 cents in the previous year, reflecting a slight increase of 4.7%[4]. - The company reported a loss for the period attributable to owners of the company of RMB 22,149,000, compared to RMB 21,308,000 in the previous year, an increase of 3.9%[4]. - The Group reported a segment profit of RMB 8,345,000 from the money lending business, while the eCommerce segment incurred a loss of RMB 1,695,000[14]. - The total loss before taxation for the Group was RMB 22,803,000, compared to a loss of RMB 20,719,000 for the same period in 2023[14][15]. - The Group's loss for the six months ended 30 June 2024 was approximately RMB21.1 million, compared to a loss of approximately RMB10.6 million for the same period in 2023, indicating an increase in loss of about 99%[63]. - The basic loss per share for the six months ended 30 June 2024 was approximately RMB0.45 cents, slightly higher than RMB0.43 cents for the same period in 2023[63]. Assets and Liabilities - As of June 30, 2024, total assets amounted to RMB 381,629,000, a decrease from RMB 410,776,000 as of December 31, 2023, reflecting a decline of approximately 7.1%[5]. - Current liabilities increased significantly to RMB 270,132,000 from RMB 86,981,000, indicating a rise of approximately 210.5%[5]. - The net current assets decreased to RMB 26,995,000 from RMB 241,774,000, representing a decline of about 88.8%[5]. - The company's total equity decreased to RMB 107,848,000 as of June 30, 2024, down from RMB 128,968,000 as of December 31, 2023, a decline of about 16.4%[5]. - Trade receivables significantly decreased to RMB 19,002,000 from RMB 48,741,000, indicating a reduction of approximately 61.0%[5]. - Loan receivables at the end of the reporting period totaled RMB 193,525,000, a decrease of 9.6% from RMB 214,095,000 as of December 31, 2023[33]. - Trade payables as of June 30, 2024, were RMB 38,126,000, down 43.9% from RMB 67,781,000 as of December 31, 2023[38]. - The Group's outstanding promissory notes as of 30 June 2024 were approximately RMB218.3 million, an increase from approximately RMB198.9 million as of 31 December 2023[63]. - The Group's gearing ratio as of 30 June 2024 was approximately 57.9%, up from approximately 49.1% as of 31 December 2023[63]. Cash Flow - The company reported a net cash used in operating activities of RMB 21,511,000 for the six months ended June 30, 2024, compared to a net cash used of RMB 7,988,000 in the same period of 2023[7]. - Cash and cash equivalents at the end of the period were RMB 51,557,000, an increase from RMB 35,655,000 at the end of June 30, 2023, reflecting a growth of approximately 44.6%[7]. - The Group's bank balances and cash as of 30 June 2024 were approximately RMB51.6 million, an increase from approximately RMB32.3 million as of 31 December 2023[63]. Business Strategy and Operations - The company is focusing on expanding its market presence and enhancing product offerings to drive future growth[4]. - Management indicated ongoing efforts in new product development and technology advancements to improve operational efficiency[4]. - The company is exploring potential mergers and acquisitions to strengthen its market position and diversify its portfolio[4]. - The Group aims to seek growth in loans with reasonable returns and manage capital costs to increase net interest income in its money lending business[65]. - The Group will implement a prudent and flexible marketing strategy in its eCommerce business to expand its customer base and diversify its product offerings[65]. - The Group plans to continue pursuing long-term growth in business and profit while adopting a prudent approach to capital management and liquidity risk management[65]. - The Group is strengthening its internal R&D team and plans to establish branch companies in Southeast Asia to manage local business more effectively[66]. - The Group plans to invest more resources in the space-time intelligence industry in Southeast Asia, which is expected to be the fastest-growing region for smart city development over the next five years[66]. Market and Economic Environment - In the first half of 2024, Hong Kong's GDP grew by 5.0% year on year, with Q2 growth at 4.7%, lower than Q1's performance[50]. - The unemployment rate in the U.S. increased from 3.8% in March to 3.9% in April and remained at 3.9% in May, indicating signs of economic cooling[50]. - The global economic growth is projected at 2.7% in 2024 and 2.8% in 2025, slightly higher than previous forecasts[50]. - The geopolitical risks, high inflation, and interest rates have affected investor sentiment in financial markets, leading to conservative business expansion among corporates[50]. - The management anticipates easing inflationary pressure and plans to regularly review and adjust strategies with a prudent approach[50]. Corporate Governance and Compliance - The Group has complied with all relevant laws and regulations regarding its money lending business, with no objections or investigations reported since the first granting of the money lenders license[71]. - The Company has adopted the principles of the Corporate Governance Code and has complied with all applicable code provisions during the six months ended June 30, 2024[74]. - All Directors have confirmed compliance with the required standards for securities transactions during the six months ended June 30, 2024[75]. Share Capital and Options - The total issued and fully paid share capital as of June 30, 2024, was RMB 337,128,000, unchanged from December 31, 2023[40]. - The number of options granted to any individual in a year cannot exceed 1% of the company's issued shares without prior shareholder approval[89]. - As of June 30, 2024, the maximum number of shares that may be issued upon exercise of options under the New Scheme is 397,544,800 shares, representing approximately 10% of the total shares in issue[88]. - The company's old share option scheme expired on June 6, 2020, after granting a total of 200,000,000 share options under a mandate for up to 204,922,800 shares[84]. Management Changes - The Company announced the resignation of Dr. Chen Huabei as executive director on 2 July 2024, and Mr. Lu Yongchao on 2 September 2024, both citing the need to focus on other business engagements[44].

Financial Performance - The company's revenue for the six months ended June 30, 2024, was approximately RMB 44,500,000, an increase of about RMB 10,400,000 or 30.5% compared to the same period in 2023[1] - Gross profit for the same period was approximately RMB 9,100,000, a decrease of about RMB 3,600,000 or 28.3% year-over-year[1] - The net loss for the six months ended June 30, 2024, was approximately RMB 22,800,000, an increase of about RMB 2,100,000 or 10.1% compared to the previous year[1] - Basic and diluted loss per share attributable to ordinary shareholders was approximately RMB 0.45, an increase of RMB 0.02 or 4.7% from the same period in 2023[1] - The total loss before tax for the six months ended June 30, 2024, was RMB 22,803,000, compared to a loss of RMB 20,719,000 for the same period in 2023, reflecting a deterioration in financial performance[9][10] - The company reported a net loss attributable to owners of RMB 22,149,000 for the six months ended June 30, 2024, compared to a loss of RMB 21,308,000 in the prior year[19] - The total loss and comprehensive expenses for the six months ended June 30, 2024, were approximately RMB 21,100,000, compared to RMB 10,600,000 for the same period in 2023, resulting in a basic loss per share of RMB 0.45 versus RMB 0.43 in 2023[49] Revenue Breakdown - Revenue from e-commerce sales was RMB 35,568,000, an increase from RMB 24,144,000 in the same period last year[8] - The lending business generated revenue of RMB 8,937,000, while the e-commerce segment contributed RMB 35,568,000, indicating a significant increase in e-commerce revenue compared to RMB 24,144,000 in the previous year[9][10] - In the first half of 2024, the lending business generated revenue of approximately RMB 8,900,000, a decrease of about 10.1% compared to RMB 9,900,000 in the same period of 2023[39] - The e-commerce segment reported revenue of approximately RMB 35,600,000, representing an increase of about 47.7% from RMB 24,100,000 in the same period of 2023, primarily due to the shift from B2C to B2B operations[40] Costs and Expenses - The cost of goods sold for the period was RMB 34,447,000, up from RMB 20,835,000 in the previous year, indicating increased operational costs[17] - The group's total sales cost increased by approximately 65.4% to RMB 35,400,000 in the first half of 2024, up from RMB 21,400,000 in the same period of 2023, driven by increased sales revenue in the e-commerce business[42] - Administrative expenses decreased by approximately 9.9% to RMB 14,500,000 in the first half of 2024, compared to RMB 16,100,000 in the same period of 2023, mainly due to redundancy layoffs[46] - Financial costs for the first half of 2024 were approximately RMB 17,100,000, an increase from RMB 16,000,000 in the same period of 2023, primarily due to accrued interest on promissory notes[47] Assets and Liabilities - Total current liabilities increased significantly, with trade payables at RMB 38,126,000 compared to RMB 67,781,000 previously[3] - The company's total assets less current liabilities were RMB 111,497,000, down from RMB 323,795,000 at the end of 2023[3] - The company's cash and cash equivalents increased to RMB 51,557,000 from RMB 32,266,000 at the end of 2023[3] - As of June 30, 2024, the group's bank balances and cash amounted to approximately RMB 51,600,000, an increase from RMB 32,300,000 as of December 31, 2023[51] - The total equity as of June 30, 2024, was approximately RMB 107,800,000, down from RMB 129,000,000 as of December 31, 2023[51] - The group's debt-to-equity ratio as of June 30, 2024, was approximately 57.9%, compared to 49.1% as of December 31, 2023[51] Dividends - The company did not recommend the payment of an interim dividend for the six months ended June 30, 2024[1] - The company did not recommend any interim dividend for the period, consistent with the previous year where no dividends were declared[18] Business Strategy and Outlook - The group plans to cautiously review and adjust its strategies in response to easing inflation pressures and a challenging business environment[36] - The group anticipates that the e-commerce business will achieve better results in the second half of 2024 following its operational adjustments[38] - The group aims to expand its e-commerce business through robust and flexible marketing strategies to diversify its customer base and product offerings[57] - The group is actively exploring new business opportunities in Southeast Asia, particularly in smart city development, with a focus on customized satellite technology solutions[57] - The group will maintain a cautious approach to corporate investment and business expansion in light of uncertain market conditions and geopolitical tensions[57] Compliance and Governance - The company has maintained compliance with the Money Lenders Ordinance, with no opposition or investigation regarding its money lender license since its issuance[59] - The company has adopted the Corporate Governance Code as a standard for its governance practices and has complied with all applicable provisions for the six months ending June 30, 2024[60] - The Audit Committee, consisting of three independent non-executive directors, has reviewed the unaudited interim results for the six months ending June 30, 2024[62] - There were no purchases, sales, or redemptions of the company's listed securities during the six months ending June 30, 2024[63] - The company has maintained sufficient public float as required by the listing rules throughout the six-month period ending June 30, 2024[64] Collaborations and Agreements - The company announced a collaboration agreement with BeiDou Global Application Hong Kong Research Institute for the global application of the BeiDou satellite navigation system on August 26, 2024[34] - A cooperation agreement was established between the company's subsidiary and Beidou Global Application Hong Kong Research Institute for the global application of the Beidou satellite navigation system on August 26, 2024[65] - As of June 30, 2024, the group had signed memorandums of understanding with two companies in Southeast Asia to seek collaboration opportunities[57] Employee and Management - The salaries of directors and key management personnel for the six months ended June 30, 2024, totaled RMB 1,136,000, a decrease from RMB 1,356,000 for the same period in 2023[33] - The group continues to invest in training programs for employees to enhance their professional skills and ensure they are informed about the latest industry policies[56]

Employee and Operational Changes - As of December 31, 2023, the Group had 36 employees, a decrease from 47 employees as of December 31, 2022[4]. - The Group's electricity consumption expenses were not available for some offices starting FY2023, contributing to the reported decrease in energy consumption[14]. - The Group's business nature resulted in no significant water sourcing issues, and water usage was primarily for employee needs and office sanitation[16]. - The Group continues to monitor waste generation levels and implement relevant measures to manage environmental impact[9]. - The Group has not provided any guarantees to companies outside of the Group as of December 31, 2023[150]. Environmental Management - The total non-hazardous waste generated in FY2023 was 0.26 tonnes, down from 0.34 tonnes in FY2022, maintaining a waste intensity of 0.007 tonnes per employee[11]. - Energy consumption intensity decreased by approximately 38.99% in FY2023 compared to FY2022 due to changes in office management fees and rental agreements[14]. - The Group did not host any waste reduction campaigns in FY2023 due to resource constraints but aims to conduct at least one campaign in FY2024[9]. - Water consumption intensity increased significantly due to business expansion, with ongoing monitoring and potential implementation of more water-saving measures[16]. - The Group's efforts in waste management included encouraging employees to reduce waste production, although no significant hazardous waste was generated in FY2023[7]. Corporate Governance - The Company complied with all code provisions as set out in the Corporate Governance Code during the financial year ended 31 December 2023[46]. - The Board convened four regular meetings during the financial year, reviewing corporate strategies and financial performance[34]. - The Company has adopted a Code of Conduct for Directors' securities transactions, ensuring compliance with required standards[25]. - The Company is committed to high standards of corporate governance to maximize shareholder interests[45]. - The company has confirmed adherence to corporate governance codes as set out in the Hong Kong Stock Exchange Listing Rules for the financial year[49]. Financial Performance - The Group reported a loss of approximately RMB14.5 million for the year ended 31 December 2023, compared to a profit of approximately RMB10.8 million in the previous year[172]. - Administrative expenses decreased by approximately 32.2% from RMB39.8 million in 2022 to RMB27.0 million in 2023, mainly due to reduced expenses related to share options[171]. - Finance costs decreased to approximately RMB29.7 million in 2023 from approximately RMB54.1 million in 2022, primarily due to the redemption of promissory notes[171]. - The Group's gearing ratio increased to 49% as of 31 December 2023, up from 47% in 2022[173]. - The Group's other gains or losses decreased by approximately 96.3%, from RMB88.7 million in 2022 to RMB3.3 million in 2023[143]. E-commerce and Market Trends - The e-commerce market in China is expected to maintain the highest growth rate globally, despite economic uncertainties[27]. - The company is shifting its strategy from B2C eCommerce to a B2B model targeting resellers for better market prospects[61]. - The Chinese eCommerce market was valued at over US$1,318.7 billion in 2023, making it the largest eCommerce market globally[4]. - ECommerce revenue increased by approximately 141.3% to RMB91.2 million for the year ended 31 December 2023, compared to RMB37.8 million in 2022[168]. - The average penetration rate of eCommerce activities in China was around 20% globally in 2023, expected to rise to approximately 25% by 2027[118]. Economic Outlook - The International Monetary Fund (IMF) has raised its forecast for China's economic growth in 2024 to 4.6%, an increase of 0.4 percentage points from the previous projection[56]. - The forecast for global economic growth for 2024-25 is below the historical average of 3.8% due to elevated central bank policy rates and withdrawal of fiscal support[56]. - Inflation is decreasing faster than expected in most regions, attributed to unwinding supply-side issues and restrictive monetary policy[56]. - The Chinese government is focusing on enhancing vocational education to meet the growing demand for skilled labor, with a goal to build a modern vocational education system by 2025[120]. - The Hong Kong economy showed signs of recovery in 2023, although external challenges constrained the pace[96]. Restructuring and Future Plans - The Company is undergoing procedures to restructure Wowxue into its subsidiary group to resume operations in the education segment[30]. - The management is closely monitoring the restructuring process of Wowxue, with expectations for favorable progress in regulatory registration procedures in 2024, aiming to resume operations as a new revenue stream[110]. - The company is exploring potential projects in education-related business for the subsidiary segment, aiming to restart operations post-restructuring[110]. - The company aims to diversify its income streams through strategic positioning of all business segments[92]. - The company is actively seeking potential business opportunities to promote growth and enhance shareholder value[92].