更改香港主要營業地點 富盈環球集團控股有限公司（「本公司」）董事（「董事」）會（「董事會」）謹此宣佈，本公 司於香港的主要營業地點及總部將搬遷至香港皇后大道中251號太興中心2座2樓， 自2025年8月13日起生效。 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。 承董事會命 Cinese International Group Holdings Limited Cinese International Group Holdings Limited 富盈環球集團控股有限公司 （於加拿大安大略省註冊成立及於開曼群島存續的有限公司） （股份代號：1620） 主席及執行董事 高頌妍博士 香港，2025年8月13日 於本公告日期，執行董事為劉學斌先生及高頌妍博士；非執行董事為劉杰鋒先生；而獨立非執行董 事為談文濤先生、孫燕華女士及關嘉怡女士。 富盈環球集團控股有限公司 ...

Summary of Key Points Core Viewpoint - A total of 142 stocks reached their 52-week highs as of August 12, with notable performers including Yingmei Holdings (02028), Elite Group (01775), and Fuying Global Group (01620) achieving high rates of 164.89%, 84.78%, and 40.63% respectively [1]. Stock Performance - **Top Performers**: - Yingmei Holdings (02028) closed at 0.223 with a peak of 0.249, marking a 164.89% increase [1]. - Elite Group (01775) closed at 0.350 with a peak of 0.425, reflecting an 84.78% increase [1]. - Fuying Global Group (01620) closed at 0.180, reaching its peak at 0.180, showing a 40.63% increase [1]. - **Other Notable Stocks**: - Aoya Group (02425) increased by 34.36% [1]. - Fuyiy International Holdings (01470) saw a rise of 28.30% [1]. - Huajian Medical (01931) experienced a 27.58% increase [1]. 52-Week High Rankings - The ranking of stocks that reached their 52-week highs includes: - Yingmei Holdings (02028) at 164.89% [1]. - Elite Group (01775) at 84.78% [1]. - Fuying Global Group (01620) at 40.63% [1]. 52-Week Low Rankings - The report also highlights stocks that reached their 52-week lows, with notable declines including: - Jiadeng International Group (08153) at -15.25% [4]. - Kun Group (00924) at -12.86% [4]. - Zhongjia Guoxin (00899) at -10.00% [4].

8月12日，截至港股收盘，恒生指数上涨0.25%，报24969.68点。富盈环球集团（01620.HK）收报0.18港 元/股，上涨57.89%，成交量1050万股，成交额161.11万港元，振幅56.14%。 行业估值方面，旅游及消闲设施行业市盈率（TTM）平均值为56.06倍，行业中值-0.79倍。富盈环球集 团市盈率-3.08倍，行业排名第99位；其他易站绿色科技（08475.HK）为0.12倍、生活概念 （08056.HK）为0.64倍、凯升控股（00102.HK）为0.92倍、OKURA HOLDINGS（01655.HK）为1.34 倍、嘀嗒出行（02559.HK）为1.45倍。 资料显示，富盈环球集团控股有限公司为加拿大历史悠久的机票批发商、旅游业务流程管理供应商及旅 游产品及服务供应商,於1976年创立,并拥有逾40年的经营历史。加达控股有限公司的主要业务包括(i)代 表订约航空公司向旅游代理及旅客分销机票及直接出票的机票分销;(ii)为旅游代理提供中端及后端支援 服务的旅游业务流程管理;及(iii)为旅游代理及旅客设计、开发及销售旅行团及其他旅游产品及服务的旅 游产品及服务。 （以上内容为金 ...

致：香港交易及結算所有限公司 公司名稱: 富盈環球集團控股有限公司 呈交日期: 2025年8月1日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01620 | 說明 | 富盈環球集團 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 90,000,000,000 | HKD | | 0.0001 | HKD | | 9,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 90,000,000,000 | HKD | | 0.0001 | HKD | | 9,000,000 | 本月底法定/註冊股本總額： HKD 9,000,000 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券 ...

Summary of Key Points Core Viewpoint - As of July 25, a total of 161 stocks reached their 52-week highs, indicating a strong market performance with notable leaders in the stock price increases. Group 1: Top Performers - Datong Group (02904) achieved a high rate of 78.34%, closing at 2.500 and reaching a peak of 2.800 [1] - Fuyuan (00352) followed with a 61.48% increase, closing at 0.143 and peaking at 0.197 [1] - Fuying Global Group (01620) recorded a 36.67% increase, closing at 0.118 and reaching a high of 0.123 [1] Group 2: Other Notable Stocks - Guoyao Technology Co., Ltd. (08156) reached a high of 30.30%, closing at 0.285 and peaking at 0.430 [1] - Yongsheng Medical (01612) saw a 29.85% increase, closing at 0.830 and reaching a high of 0.870 [1] - Ruiyuan Intelligent Control (08249) achieved a 28.39% increase, closing at 0.124 and peaking at 0.199 [1] Group 3: Additional Stocks with Significant Increases - Guorui Life (00108) increased by 27.88%, closing at 1.060 and reaching a high of 1.330 [1] - Tianji Holdings (01520) recorded a 24.11% increase, closing at 1.580 and peaking at 1.750 [1] - Quality International (00243) saw a 23.53% increase, closing at 0.495 and reaching a high of 0.630 [1] Group 4: 52-Week Low Performers - Hengtaiyu Group (08081) reached a low of -13.79%, closing at 0.027 and hitting a low of 0.025 [5] - Rongfeng Yi Holdings (03683) recorded a low of -10.53%, closing at 0.085 [5] - Xietong Communication (01613) saw a decrease of -4.17%, closing at 0.246 and reaching a low of 0.230 [5]

Company Overview - 富盈环球集团控股有限公司 is a long-established ticket wholesaler and travel service provider founded in 1976, with over 40 years of operational history [2] Financial Performance - As of December 31, 2024, 富盈环球集团 reported total revenue of 88.8721 million yuan, a year-on-year decrease of 7.28% [1] - The company recorded a net profit attributable to shareholders of -41.1856 million yuan, representing a year-on-year decrease of 1624.68% [1] - The gross profit margin stood at 35.7%, while the debt-to-asset ratio was 99.5% [1] Stock Performance - On July 25, the stock closed at 0.118 HKD per share, marking an increase of 35.63% with a trading volume of 18.54 million shares and a turnover of 2.0283 million HKD [1] - Over the past month, the stock has seen a cumulative increase of 40.32%, and a year-to-date increase of 50%, outperforming the Hang Seng Index, which rose by 27.95% [1] Industry Valuation - The average price-to-earnings (P/E) ratio for the tourism and leisure facilities industry is 53.98 times, with a median of -0.82 times [1] - 富盈环球集团's P/E ratio is -2.35 times, ranking 100th in the industry [1] - Other companies in the industry include 易站绿色科技 (0.12 times), 生活概念 (0.66 times), 凯升控股 (0.92 times), 嘀嗒出行 (1.26 times), and OKURA HOLDINGS (1.51 times) [1]

Financial Performance - Total revenue decreased by approximately 7.2% from HKD 103.5 million in 2023 to HKD 96.0 million in 2024[4] - Gross profit fell by about 22.4% from HKD 44.2 million in 2023 to HKD 34.3 million in 2024, with a gross margin decline from 42.7% to 35.7%[4] - The airline ticket distribution segment's revenue dropped by approximately 51.1% from HKD 22.1 million to HKD 10.8 million due to geopolitical tensions affecting air transport volumes[12] - The travel business process management segment's revenue remained stable at approximately HKD 21.5 million in 2024, with an increase in gross margin from 66.4% to 71.5%[13] - Revenue from the travel products and services segment increased by about 5.6% from HKD 60.3 million to HKD 63.7 million, driven by growth in the Greater Bay Area[14] - The company reported a significant loss of HKD 44.5 million in 2024 compared to a profit of HKD 2.9 million in 2023, marking a decline of 1,634.5%[4] Assets and Equity - Total assets decreased by 21.9% from HKD 141.8 million in 2023 to HKD 110.8 million in 2024[4] - Shareholders' equity plummeted by 98.9% from HKD 50.3 million to HKD 0.6 million, indicating severe financial strain[4] Liquidity and Ratios - The current ratio and quick ratio fell by 25.0% from 1.2 to 0.9, reflecting liquidity challenges[4] - The debt-to-equity ratio surged to approximately 415.9% as of December 31, 2024, up from approximately 6.6% as of December 31, 2023, primarily due to additional expected credit loss provisions impacting total equity[41] Credit Loss Provisions - As of December 31, 2024, the cumulative expected credit loss provision is approximately HKD 110.6 million, an increase from approximately HKD 83.9 million as of December 31, 2023, reflecting a significant rise in expected credit losses due to adverse impacts on international travel demand[36] - The expected credit loss provision for trade receivables increased to approximately HKD 1.8 million from approximately HKD 0.5 million year-on-year, while the provision for other receivables rose to approximately HKD 108.8 million from approximately HKD 83.4 million[36] Governance and Board Composition - The company is committed to good corporate governance practices, adhering to applicable codes and principles to enhance shareholder value[87] - The board consists of three independent non-executive directors, meeting the requirement that independent directors must constitute at least one-third of the board[93] - The company has established three board committees: the Audit Committee, the Remuneration Committee, and the Nomination Committee, each operating within its defined scope[101] - The company has adopted a board diversity policy, considering factors such as gender, age, cultural and educational background, and professional experience in the selection process[109] Risk Management - The company has established policies and procedures for risk management and internal control, with the board responsible for assessing the nature and extent of risks[110] - The risk management and internal control systems include a strategic risk register to control and evaluate identified risks, ensuring the effectiveness of risk mitigation procedures[111] - The board is aware that the risk management and internal control systems are designed to manage rather than eliminate risks associated with achieving business objectives[110] Employee and Management - As of December 31, 2024, the company had a total of 82 employees, comprising 32 males and 50 females, and is committed to reviewing gender diversity among its workforce[140] - The total remuneration for senior management for the year ending December 31, 2024, is approximately HKD 5.0 million, including salaries, allowances, bonuses, and retirement plan contributions[94] Environmental Commitment - The company has implemented recycling programs for consumables like toner and paper to minimize its environmental impact and is committed to sustainable development[139] Shareholding and Ownership - As of December 31, 2024, the company had a significant shareholding of 900,000,000 shares, representing 75.0% ownership by Mr. Liu through controlled entities[156] - The shareholding structure indicates that Mr. Liu controls 75.0% of the company through Tomorrow Education Technology Limited[157] Dividend Policy - The board will consider various factors, including financial performance and liquidity, when determining dividend payments to shareholders[127] - The company reported no final dividend for the year ended December 31, 2024, in order to retain cash for operational needs and future development[141]

Financial Performance - The company's revenue for the year ended December 31, 2024, was HKD 96.0 million, a decrease of 7.2% compared to HKD 103.5 million in 2023[4] - Gross profit for the same period was HKD 34.3 million, down 22.4% from HKD 44.2 million in the previous year, resulting in a gross margin of 35.7%[4] - The company reported a net loss of HKD 44.5 million for the year, a significant decline from a profit of HKD 2.9 million in 2023, representing a change of 1,634.5%[4] - Basic and diluted loss per share was HKD 3.7, compared to earnings of HKD 0.2 per share in the prior year, reflecting a decrease of 1,955.0%[4] - Total revenue for the year ended December 31, 2024, was HKD 95,970,000, a decrease of 7.4% from HKD 103,510,000 in 2023[24] - The company's annual profit for 2024 was a loss of HKD 44,475,000, compared to a profit of HKD 2,917,000 in 2023[35] - The group incurred an operating loss before tax of HKD 28,244,000, with total administrative expenses amounting to HKD 23,159,000[23] - The group recognized a pre-tax loss of approximately HKD 28.2 million for the current year, compared to a pre-tax profit of approximately HKD 5.2 million for the year ended December 31, 2023, primarily due to an increase in expected credit loss provisions[64] Assets and Liabilities - Total assets decreased to HKD 110.8 million in 2024 from HKD 141.8 million in 2023, indicating a reduction of 21.9%[6] - Total liabilities increased to HKD 110.3 million in 2024 from HKD 91.5 million in 2023, marking a rise of 20.6%[7] - The group reported a net current liability of about HKD 13,220,000 at the end of the reporting period[13] - The amount payable to the immediate holding company as of December 31, 2024, was HKD 17.0 million, an increase from HKD 10.0 million as of December 31, 2023[71] Revenue Segmentation - Total external customer revenue for the year was HKD 95,970,000, with contributions from ticket distribution (HKD 10,811,000), travel business process management (HKD 21,480,000), and travel products and services (HKD 63,679,000)[23] - Revenue from the travel business process management segment increased to HKD 21,480,000 in 2024 from HKD 21,078,000 in 2023, representing a growth of 1.9%[25] - Revenue from mainland China was HKD 63,481,000 in 2024, up 5.4% from HKD 60,056,000 in 2023[27] - Revenue from the ticket distribution segment decreased by approximately HKD 11.3 million or 51.1% from about HKD 22.1 million for the year ended December 31, 2023, to about HKD 10.8 million for the year ended December 31, 2024[47] - Revenue from the travel products and services segment increased by approximately HKD 3.4 million or 5.6% from about HKD 60.3 million for the year ended December 31, 2023, to about HKD 63.7 million for the year ended December 31, 2024[49] Credit Loss Provisions and Financial Costs - The company experienced a significant increase in expected credit loss provisions, with a charge of HKD 29.7 million in 2024 compared to a reversal of HKD 1.2 million in 2023[5] - The company reported a net financial cost of HKD 172,000 in 2024, compared to HKD 70,000 in 2023, indicating an increase in financial expenses[31] Cash Flow and Working Capital - The net cash generated from operating activities for the current year was approximately HKD 3.2 million, compared to a net cash used of approximately HKD 24.8 million for the year ended December 31, 2023[65] - As of December 31, 2024, the group's cash and cash equivalents increased by approximately 15.2% to approximately HKD 30.4 million from approximately HKD 26.4 million as of December 31, 2023[65] - The group expects to have sufficient working capital to meet its financial obligations for at least the next twelve months[13] Employee and Operational Information - The total employee cost for the year was approximately HKD 29.5 million, down from approximately HKD 31.7 million for the year ended December 31, 2023[74] - The group had a total of 82 employees as of December 31, 2024, compared to 71 employees as of December 31, 2023[74] Dividends and Shareholder Information - The company did not declare any final dividend for the year ended December 31, 2024[4] - The company did not recommend any final dividend for the year ended December 31, 2024, consistent with 2023[36] - The company does not recommend the payment of a final dividend for the year, maintaining cash for operational needs and future development[50] Compliance and Reporting - The group has maintained compliance with all bank covenants as of December 31, 2024, and 2023[45] - The preliminary announcement of the group's annual performance figures is consistent with the audited consolidated financial statements[89] - The annual performance announcement is published on the Hong Kong Stock Exchange website and the company's website[90] - The annual report contains all information required by the Listing Rules Appendix D2 and will be sent to shareholders at the appropriate time[90] Future Outlook and Strategy - The group anticipates continued revenue growth from self-operated tours in the Greater Bay Area, driven by its travel products and services segment[13] - The company aims to consolidate its market share in the Greater Bay Area tourism sector and explore new business opportunities[51] - The company will continue to monitor and reassess its ticket distribution business model in response to geopolitical tensions affecting air transport volumes between China and North America[51] Accounting and Financial Standards - The group has not adopted any new accounting standards that would have a significant impact on its consolidated financial statements[14] - The group is evaluating the specific impact of the new International Financial Reporting Standard 18 on its consolidated financial statements, effective from January 1, 2027[19] Miscellaneous - The company has not engaged in any major investments, acquisitions, or disposals of subsidiaries, associates, or joint ventures during the year[75] - The company has not entered into any derivative transactions or established any financial instruments to hedge foreign currency risks during the year[73] - There were no significant contingent liabilities or guarantees as of December 31, 2024[77] - The executive directors as of the announcement date include Mr. Liu Xuebin and Dr. Gao Songyan[92]

Financial Performance - The company's revenue for the six months ended June 30, 2024, increased by 32.5% to approximately HKD 50.1 million, compared to HKD 37.8 million for the same period in 2023[3]. - Gross profit rose by 1.1% to approximately HKD 18.1 million, with a gross margin decline from 47.2% to 36.2%[3]. - The company reported a loss of HKD 28.8 million for the period, a significant decrease from a profit of HKD 0.6 million in the previous year, representing a 4,900% decline[3]. - Overall group revenue increased by approximately 32.5% from HKD 37.8 million for the six months ended June 30, 2023, to HKD 50.1 million for the six months ended June 30, 2024[12]. - The group reported a pre-tax loss of approximately HKD 19.8 million for the six months ended June 30, 2024, compared to a pre-tax profit of approximately HKD 1.8 million for the same period in 2023[24]. - The company reported a net loss attributable to shareholders of HKD 28,826,000 for the six months ended June 30, 2024, compared to a profit of HKD 590,000 in the prior year[52]. - The company reported a net loss of HKD 28,826 million for the six months ended June 30, 2024, compared to a loss of HKD 3,105 million for the same period in 2023[55]. Revenue Breakdown - Revenue from ticket distribution decreased by approximately 36.7% to HKD 6.2 million, primarily due to a stagnation in air transport volume between China and North America[8]. - Revenue from travel business process management remained stable at approximately HKD 11.2 million, with an increase in gross margin from 63.4% to 72.5%[9]. - The travel products and services segment reported a revenue increase of approximately 89.0% from HKD 17.3 million for the six months ended June 30, 2023, to HKD 32.7 million for the six months ended June 30, 2024[10][15]. - Total revenue for the six months ended June 30, 2024, was HKD 50,053,000, with contributions from ticket distribution (HKD 6,174,000), travel business process management (HKD 11,150,000), and travel products and services (HKD 32,729,000)[65]. Asset and Equity Changes - Total assets decreased by 14.5% to HKD 121.3 million as of June 30, 2024, down from HKD 141.8 million at the end of 2023[4]. - Shareholders' equity fell by 62.0% to HKD 19.1 million, compared to HKD 50.3 million at the end of 2023[4]. - The company's equity attributable to owners decreased significantly from HKD 50,282 million to HKD 19,145 million, a decline of approximately 61.9%[53]. Cash Flow and Liquidity - The net cash generated from operating activities for the six months ended June 30, 2024, was approximately HKD 5.5 million, slightly down from approximately HKD 5.7 million for the same period in 2023[25]. - The group's cash and cash equivalents increased by approximately 31.4%, from about HKD 26.4 million as of December 31, 2023, to approximately HKD 34.7 million as of June 30, 2024[25]. - The current ratio decreased by 19.5% to 0.99, indicating a decline in liquidity compared to the previous period[4]. Expenses and Loss Provisions - The expected credit loss provision increased from approximately HKD 4.2 million for the six months ended June 30, 2023, to approximately HKD 20.2 million for the six months ended June 30, 2024, due to an increase in the aging balances of certain debtors[23]. - The total operating expenses for the six months ended June 30, 2024, were HKD 19,509,000, slightly down from HKD 20,293,000 in the previous year[52]. - The total administrative expenses increased to HKD 51,420,000 for the six months ended June 30, 2024, compared to HKD 40,268,000 in the same period of 2023, marking an increase of 27.0%[70]. Governance and Compliance - The board of directors has complied with the corporate governance code, with a noted deviation regarding the separation of the roles of Chairman and CEO[39]. - The audit committee has reviewed the interim financial results for the six months ending June 30, 2024, confirming compliance with applicable accounting standards[42]. - The company has established an audit committee to oversee financial reporting and risk management, consisting of three independent non-executive directors[41]. Shareholder Information - Major shareholders include Tomorrow Education Technology Limited, holding 75.0% of the shares, and Mr. Liu, who also holds 75.0% through controlled entities[46]. - The company has a significant ownership structure, with Mr. Liu holding 75% of the shares through controlled entities[43]. Credit Risk and Receivables - The expected credit loss provision for amounts receivable from travel companies for ticket costs was HKD 102,508,000 as of June 30, 2024[97]. - The total expected credit loss provision for the period was HKD 20,167,000, reflecting adjustments based on macroeconomic factors[97]. - The company has identified that 60% of trade receivables as of June 30, 2024, came from its three largest customers, indicating a concentration of credit risk[98]. Financial Assets and Fair Value - As of June 30, 2024, the total financial assets measured at fair value amounted to HKD 3,110,000, with HKD 1,480,000 classified as Level 1 and HKD 1,630,000 as Level 3[103]. - The fair value of financial assets measured at fair value through profit or loss was HKD 1,480,000 as of June 30, 2024[103]. - The fair value of financial assets measured at fair value through other comprehensive income was HKD 1,630,000 as of June 30, 2024[103].

Financial Performance - The company's total revenue increased by approximately 126.0% from HKD 45.8 million in 2022 to HKD 103.5 million in 2023[3]. - Gross profit rose by about 96.4% from HKD 22.5 million in 2022 to HKD 44.2 million in 2023, with a gross margin decrease of 6.5 percentage points to 42.7%[3][11]. - The annual profit improved significantly from a loss of HKD 13.8 million in 2022 to a profit of HKD 2.9 million in 2023, marking a 121.0% increase[3]. - The ticket distribution segment's revenue surged by approximately 93.9% from HKD 11.4 million in 2022 to HKD 22.1 million in 2023, driven by the recovery of the global travel industry[13]. - The travel business process management segment's revenue decreased by about 34.1% from HKD 32.0 million in 2022 to HKD 21.1 million in 2023, while its gross margin increased by 18.4 percentage points to 66.4%[14]. - The company generated approximately HKD 60.1 million in revenue from its travel products and services segment, primarily related to cultural tourism in the Greater Bay Area of China[10]. - The group's revenue increased by approximately HKD 57.7 million or about 126.0% to approximately HKD 103.5 million for the year ended December 31, 2023, compared to approximately HKD 45.8 million for the previous year[23]. - Ticket distribution revenue rose by approximately HKD 10.7 million or about 93.9% to approximately HKD 22.1 million, driven by a strong recovery in the tourism industry[24]. - Revenue from the travel products and services segment was approximately HKD 60.3 million, attributed to the resumption of self-operated tours in the first quarter of 2023 following the easing of COVID-19 restrictions[26]. - The gross profit increased by approximately HKD 21.7 million or about 96.4% to approximately HKD 44.2 million, primarily due to increased revenue from ticket distribution services and travel products[29]. - The overall gross margin decreased by approximately 6.5 percentage points to about 42.7%, mainly due to a higher contribution from the lower-margin travel products and services segment[30]. - The gross profit from the ticket distribution segment increased by approximately HKD 10.9 million or about 162.7% to approximately HKD 17.6 million, with a gross margin of approximately 79.5%[31]. - The gross profit from the travel business process management segment decreased by approximately HKD 1.4 million or about 9.1% to approximately HKD 14.0 million, with a gross margin of approximately 66.4%[32]. - The group reported a profit of approximately HKD 2.9 million for the year, a significant turnaround from a loss of approximately HKD 13.8 million in the previous year, driven by a revenue increase of approximately 126.0% from HKD 45.8 million to HKD 103.5 million[42]. Assets and Equity - Total assets increased by 6.6% from HKD 133.0 million in 2022 to HKD 141.8 million in 2023[3]. - Shareholders' equity rose by 5.2% from HKD 47.8 million in 2022 to HKD 50.3 million in 2023[3]. - The current ratio improved by 9.1% from 1.1 in 2022 to 1.2 in 2023, indicating better liquidity[3]. - The group's cash and cash equivalents decreased by approximately 39.7% to about HKD 26.4 million from HKD 43.8 million as of December 31, 2022[43]. - The debt-to-equity ratio improved to approximately 6.6% from 8.4% in the previous year, reflecting a decrease of about 1.8 percentage points[43]. - As of December 31, 2023, the company's distributable reserves amounted to approximately HKD 7.6 million, including share premium and accumulated losses[148]. Business Strategy and Opportunities - The company is exploring new business opportunities in the travel wellness sector through a memorandum of understanding with a service provider in Hainan, China[10]. - The company will continue to explore new business opportunities in the travel industry, particularly in the Greater Bay Area, to strengthen its market share[20]. - The company anticipates a steady recovery in the aviation travel demand throughout 2023, creating more business opportunities in the tourism sector[20]. - The company is focused on expanding its market presence through strategic investments and operational efficiencies[75]. - Future outlook includes potential new product offerings and technological advancements to enhance customer experience[75]. - The company is focused on expanding its business operations in Canada, the United States, and the People's Republic of China[136]. Corporate Governance - The company has adopted and complied with all applicable code provisions of the Corporate Governance Code for the year ended December 31, 2023, except for C.2.1[88]. - The board consists of 3 independent non-executive directors, meeting the requirement that they must represent at least one-third of the board[95]. - The company emphasizes the importance of good corporate governance to enhance shareholder value and ensure effective accountability mechanisms[88]. - The company provides tailored onboarding training for new directors to ensure they understand their responsibilities and the company's operations[98]. - The company encourages all directors to participate in relevant training courses, with costs covered by the company[98]. - The board believes that having the same person serve as both chairman and CEO is beneficial for consistent leadership and effective strategic planning[88]. - The company has a balanced composition of executive, non-executive, and independent non-executive directors to ensure independent judgment[90]. - The board has established three committees: the audit committee, remuneration committee, and nomination committee, each operating within its defined scope[103]. - The audit committee consists of three independent non-executive directors, ensuring oversight of the group's financial reporting and internal control systems[104]. - The board conducted a review of the effectiveness of the risk management and internal control systems, concluding that they are adequate and effective for the current business environment[117]. Employee and Management Information - As of December 31, 2023, the group had a total of 71 employees, with total employee costs for the year amounting to approximately HKD 31.7 million, down from approximately HKD 46.3 million for the year ended December 31, 2022[54]. - The total compensation for senior management for the year ended December 31, 2023, was approximately HKD 5.3 million[96]. - The number of senior management members earning between HKD 1,000,001 and HKD 1,500,000 was 1[96]. - The total number of senior management members earning between HKD 500,001 and HKD 1,000,000 was 2[96]. - The group is committed to regular reviews of employee compensation policies and benefits based on market practices and individual performance[54]. Risk Management - The group has identified key risks including natural disasters, travel demand fluctuations, and economic conditions that may affect financial performance[138]. - The company has a procedure for identifying, assessing, and managing significant risks that could impact its business objectives, reviewed at least annually[116]. - The risk management procedures are updated regularly to ensure the effectiveness of risk mitigation strategies, reflecting management's focus on identified risks[114]. - The board is responsible for assessing the nature and extent of risks the company is willing to take to achieve its strategic objectives[113]. - The company will review its risk management and internal control systems annually to adapt to any regulatory changes and business needs[117]. Shareholder Communication and Dividends - The board is committed to maintaining effective communication with shareholders and regularly reviews the shareholder communication policy[130]. - The board will consider various factors, including financial performance and liquidity, when determining dividend payments[131]. - The company did not recommend a final dividend for the year ended December 31, 2023, in order to retain more cash for operational needs and future development[143]. - The company will consider future dividend distributions based on its dividend policy at an appropriate time[143]. - The board will convene a special general meeting if requested by shareholders holding at least 10% of voting rights[128]. - The annual general meeting is scheduled for June 26, 2024, with a deadline for share transfer registration on June 20, 2024[146][147]. Audit and Compliance - The independent auditor's report confirmed that the consolidated financial statements fairly reflect the group's financial position as of December 31, 2023[192]. - The audit committee reviewed the consolidated financial statements and annual performance announcement, ensuring compliance with applicable accounting standards and listing rules[188]. - The company maintained a minimum public float of 25% as required by listing rules as of the report date[185]. - The company has appropriate insurance for the responsibilities of directors and senior officers, effective throughout the reporting period[184]. - The audit committee assessed the recoverability of deferred tax assets, considering future taxable income forecasts and tax planning strategies[196]. Related Party Transactions - The company has not engaged in any related party transactions during the fiscal year ending December 31, 2023[176]. - The company has complied with the relevant provisions of the Listing Rules regarding related party transactions[176]. - There are no rights granted to directors or their associates to acquire shares or bonds of the company during the fiscal year[175]. Stock Options and Share Capital - The stock option plan allows for a maximum of 120,000,000 shares to be issued, equivalent to 10% of the total issued shares as of the report date[167]. - No stock options have been granted or agreed to be granted under the stock option plan as of the report date[170]. - The stock option plan will remain effective for ten years from its adoption date, expiring on May 6, 2028[174]. Financial Assets and Liabilities - The group confirmed deferred tax assets of approximately HKD 28,161,000 as of December 31, 2023, related to unused tax losses and other deductible temporary differences[196]. - As of December 31, 2023, the carrying value of trade receivables and amounts due from travel companies for ticket costs, net of expected credit loss provisions, were approximately HKD 32,706,000 and HKD 44,322,000 respectively[199]. - For the year ended December 31, 2023, the expected credit loss provision made for trade receivables and amounts due from travel companies for ticket costs was approximately HKD 414,000, with a reversal of approximately HKD 1,575,000[199]. - Management's estimation of expected credit losses is based on a forward-looking expected credit loss model, taking into account economic factors that may impact the recoverability of amounts from customers and travel companies[199].