董事名單與其角色及職能 雄岸科技集團有限公司（「本公司」）董事（「董事」）會（「董事會」）成員載列如下： Grandshores Technology Group Limited 1647 蔡成海先生 俞卓辰女士 姚澤乾先生 獨立非執行董事 朱宗宇先生 劉直女士 戚小磊先生 董事會設有三個董事委員會。下表載列各董事會成員擔任委員會職務之資料。 | | 董事委員會 | 審核委員會 | 薪酬委員會 | 提名委員會 | | --- | --- | --- | --- | --- | | 董事 | | | | | | 姚勇杰先生 | | | 成員 | 主席 | | 俞卓辰女士 | | | | 成員 | | 姚澤乾先生 | | | 成員 | | | 朱宗宇先生 | | 主席 | 成員 | 成員 | | 劉直女士 | | 成員 | 主席 | 成員 | | 戚小磊先生 | | 成員 | 成員 | 成員 | 香港，二零二五年八月十五日 執行董事 姚勇杰先生 （主席） 非執行董事 ...

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，概不會就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。 Grandshores Technology Group Limited (a) 李侃霖先生（「李先生」）已辭任獨立非執行董事，並不再擔任本公司薪酬委員會主 席及審核委員會及提名委員會各自之成員；及 (b) 劉直女士（「劉女士」）已獲委任為獨立非執行董事，以及本公司薪酬委員會主席及 審核委員會及提名委員會各自之成員。 1647 獨立非執行董事 及 董事委員會組成之變動 董事會宣佈，自二零二五年八月十五日起： 獨立非執行董事辭任 雄岸科技集團有限公司（「本公司」）董事（「董事」）會（「董事會」）宣佈，李先生已辭任獨立 非執行董事，並不再擔任本公司薪酬委員會主席及審核委員會及提名委員會各自之成 員，自二零二五年八月十五日生效，以投放更多時間於其他業務承諾。 李先生已確認，彼與董事會並無意見分歧，亦無有關彼辭任之事宜須敦請本公司股東 （「股東」）或香港聯合交易所有限公司（「聯交所」）垂注。 委任獨立非執行董事 ...

本文源自：金融界 作者：行情君 截至2024年年报，雄岸科技营业总收入5.89亿元、净利润-548.95万元。 8月14日，雄岸科技(01647)盘中上涨11.86%，截至09:49，报0.132元/股，成交107.37万元。 雄岸科技集团有限公司主要在新加坡提供建筑工程及机电系统的维修与安装服务，并拓展至区块链技术 及数字资产相关的资讯科技业务。公司在建筑系统维修方面拥有超过十年经验，自2018年起积极发展互 联网和区块链技术应用。 ...

FF301 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變動月報表 截至月份: 2025年7月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 雄岸科技集團有限公司 (於開曼群島註冊成立之有限公司) 呈交日期: 2025年8月6日 本月底法定/註冊股本總額： HKD 50,000,000 第 1 頁 共 10 頁 v 1.1.1 FF301 II. 已發行股份及/或庫存股份變動 | 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) | 01647 | 說明 | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 1,195,040,000 | | 0 | | 1,195,040,000 | | 增加 / 減少 (-) | | | 0 | | 0 | | | | 本月底結存 | | | 1,195, ...

Group 1 - The core viewpoint of the article highlights the strong performance of cryptocurrency-related stocks in the Hong Kong market, with notable gains for several companies [1] Group 2 - Blue Ocean Interactive (08267.HK) saw a significant increase of 24.19% [1] - OK Blockchain (01499.HK) experienced a rise of 6.45% [1] - New Fire Technology Holdings (01611.HK) increased by 3.59% [1] - Xiong'an Technology (01647.HK) rose by 2.34% [1]

[Corporate Information](index=2&type=section&id=Corporate%20Information) Details the corporate structure, including directors, committees, key offices, and professional advisors - This report specifies the corporate structure of Lion-Bank Technology Group Limited, including core information such as executive directors, non-executive directors, committee members, company secretary, registered office, principal places of business (Hong Kong, Singapore, China), share registrar, auditor, and principal bankers[6](index=6&type=chunk)[7](index=7&type=chunk) [Chairman's Statement](index=4&type=section&id=Chairman's%20Statement) [Chairman's Statement](index=4&type=section&id=Chairman's%20Statement) Chairman Mr Yiu Yung Kit reviews the fiscal year results, noting a shift from profit to loss despite revenue growth and outlines future diversification strategies Key Financial Indicators Overview for FY2025 | Indicator | FY2025 (SGD) | FY2024 (SGD) | Change | | :--- | :--- | :--- | :--- | | **Revenue** | 109.8 million | 84.5 million | ▲ 29.9% | | **Gross Profit** | 17.4 million | 17.7 million | ▼ 1.7% | | **Gross Profit Margin** | 15.9% | 20.9% | ▼ 5.0pp | | **(Loss)/Profit Attributable to Owners** | (1.0 million) | 2.2 million | From Profit to Loss | - The decline in performance was mainly due to: - **A decrease in other income**: Dropped from approximately SGD 2.0 million last year to SGD 0.6 million, primarily due to reduced government grants and interest income - **An increase in administrative expenses**: Rose from approximately SGD 15.7 million last year to SGD 18.1 million, mainly due to an increased number of employees and salary adjustments[9](index=9&type=chunk) - The future strategy will expand from focusing on blockchain technology to a more comprehensive range of internet technology-related businesses, including e-commerce, digital media marketing, live-streaming commerce, multi-channel networks, artificial intelligence, industrial internet, virtual reality technology, and mobile internet video product production[9](index=9&type=chunk)[14](index=14&type=chunk) [Management Discussion and Analysis](index=5&type=section&id=Management%20Discussion%20and%20Analysis) [Business Review and Prospects](index=5&type=section&id=Business%20Review%20and%20Prospects) The Group's total revenue grew significantly this fiscal year, but both gross profit and gross profit margin declined - According to the Singapore Building and Construction Authority's forecast, total construction demand in 2025 is expected to be between SGD 47 billion and SGD 53 billion, with demand remaining robust in the medium term (2026-2029), though global economic uncertainty and labor shortages remain major challenges[12](index=12&type=chunk)[13](index=13&type=chunk) - Revenue from the digital asset trading business decreased from approximately SGD 6.7 million last year to SGD 3.4 million, mainly because the Group strategically reduced its trading volume in a market environment where Bitcoin prices remained high[13](index=13&type=chunk) - The Group will continue to expand into various internet technology-related businesses such as e-commerce, digital media marketing, live-streaming commerce, and artificial intelligence, rather than focusing solely on blockchain technology[14](index=14&type=chunk) [Financial Review](index=6&type=section&id=Financial%20Review) The Group's total revenue increased by 29.9% year-on-year to SGD 109.8 million, driven by strong growth in integrated building services and building construction works Revenue Performance by Business Segment (SGD) | Business Segment | FY2025 | FY2024 | YoY Growth | | :--- | :--- | :--- | :--- | | **Integrated Building Services** | 70.1 million | 56.1 million | ▲ 25.0% | | **Building Construction Works** | 35.7 million | 20.8 million | ▲ 71.6% | | **IT Development and Application** | 4.0 million | 7.7 million | ▼ 48.1% | | **Total Revenue** | **109.8 million** | **84.5 million** | **▲ 29.9%** | - The main reasons for the decline in gross profit margin were: (i) a decrease in the revenue share of the high-margin IT business; and (ii) an increased use of subcontractors in the integrated building services and building construction works businesses to cope with labor shortages, leading to a higher cost increase than revenue growth[19](index=19&type=chunk) - Administrative expenses increased by SGD 2.4 million (a 15.3% increase) year-on-year, primarily due to an increase in the total number of employees and salary adjustments[23](index=23&type=chunk) - Other income decreased from SGD 2.0 million to SGD 0.6 million, mainly due to reduced government grants and interest income[21](index=21&type=chunk) [Liquidity and Financial Resources](index=8&type=section&id=Liquidity%20and%20Financial%20Resources) The Group maintained a sound financial position during the review year, with a total bank balance and cash of approximately SGD 11.9 million Liquidity and Capital Structure Indicators (as of March 31) | Indicator | 2025 | 2024 | | :--- | :--- | :--- | | **Bank Balances and Cash** | 11.9 million SGD | 15.8 million SGD | | **Current Ratio** | 3.7 times | 3.8 times | | **Gearing Ratio** | 1.1% | 0.7% | | **Equity Attributable to Owners** | 58.1 million SGD | 59.1 million SGD | - The Board does not recommend the payment of a final dividend for the review year[29](index=29&type=chunk) - During the review year, the Group recorded a foreign exchange loss of approximately SGD 29,000, compared to a gain of approximately SGD 707,000 last year[33](index=33&type=chunk) [Human Resources and Risk Management](index=9&type=section&id=Human%20Resources%20and%20Risk%20Management) As of the fiscal year-end, the number of full-time employees in the Group increased to 498 - As of March 31, 2025, the Group employed 498 full-time employees, an increase from 461 in the same period last year[36](index=36&type=chunk) - Key risks and uncertainties include: - Changes in the economic conditions of Singapore's property market and construction demand - Business reliance on non-recurring successful project bids - Exposure to financial risks such as interest rate, currency, credit, liquidity, and equity price risks[39](index=39&type=chunk) [Use of Proceeds and Post-Reporting Period Events](index=10&type=section&id=Use%20of%20Proceeds%20and%20Post-Reporting%20Period%20Events) The net proceeds of approximately SGD 2.54 million from the new share subscription in May 2022 were fully utilized as of March 31, 2025 - The net proceeds of approximately SGD 2.54 million from the 2022 subscription were fully utilized by the end of this fiscal year, with SGD 146,000 used during the review year to develop new financial services businesses[40](index=40&type=chunk)[41](index=41&type=chunk) - **Significant post-reporting period event**: The market price of Bitcoin increased from approximately USD 83,000 on March 31, 2025, to approximately USD 108,000 on the report date[42](index=42&type=chunk) [Biographical Details of Directors and Senior Management](index=11&type=section&id=Biographical%20Details%20of%20Directors%20and%20Senior%20Management) [Biographical Details of Directors and Senior Management](index=11&type=section&id=Biographical%20Details%20of%20Directors%20and%20Senior%20Management) This section details the backgrounds of the company's board members and senior management - **Executive Director**: Mr Yiu Yung Kit, Chairman, is the chairman of Hangzhou Tunlan Investment Management Co, Ltd, a private equity firm focusing on blockchain and AI investments, and an angel investor in Canaan Inc (CAN.US)[45](index=45&type=chunk) - **Non-Executive Directors**: Include Mr Chua Seng Hai, with over 26 years of experience in the Singapore construction industry, and Mr Yiu Chak Kin, the Chairman's son, who holds a bachelor's degree in economics[46](index=46&type=chunk)[47](index=47&type=chunk) - **Independent Non-Executive Directors**: Include Mr Chu Chung Yue, a qualified professional accountant, and Mr Li Kanlin and Mr Qi Xiaolei, who have experience in investment, technology, and corporate management[49](index=49&type=chunk)[50](index=50&type=chunk)[51](index=51&type=chunk) [Corporate Governance Report](index=14&type=section&id=Corporate%20Governance%20Report) [Board of Directors and Governance Structure](index=14&type=section&id=Board%20of%20Directors%20and%20Governance%20Structure) The Group is committed to maintaining high standards of corporate governance, complying with most provisions of the Corporate Governance Code during the reporting period - The company complied with the Corporate Governance Code during the review year, with the only deviation being code provision C.2.1, as the roles of the Chairman (Mr Yiu Yung Kit) and the Chief Executive Officer were not separated, due to the CEO position remaining vacant since July 2021[57](index=57&type=chunk)[63](index=63&type=chunk) - The Board consists of seven members, including three independent non-executive directors, who make up more than one-third of the Board, meeting the Listing Rules requirements; Independent Non-Executive Director Mr Chu Chung Yue possesses professional accounting qualifications[59](index=59&type=chunk)[65](index=65&type=chunk) Board and General Meeting Attendance Record for the Review Year | Director's Name | Position | Board Meeting Attendance | General Meeting Attendance | | :--- | :--- | :--- | :--- | | Mr Yiu Yung Kit | Executive Director, Chairman | 7/7 | 1/1 | | Mr Chua Seng Hai | Non-Executive Director | 2/7 | 1/1 | | Ms Yu Zhuochen | Non-Executive Director | 7/7 | 1/1 | | Mr Chu Chung Yue | Independent Non-Executive Director | 5/7 | 1/1 | | Mr Li Kanlin | Independent Non-Executive Director | 5/7 | 1/1 | [Board Committees](index=18&type=section&id=Board%20Committees) The Board has established three committees—Audit, Remuneration, and Nomination—to assist in fulfilling its duties [Audit Committee](index=18&type=section&id=Audit%20Committee) The Audit Committee consists of three independent non-executive directors and is chaired by Mr Chu Chung Yue - The Audit Committee is composed of three independent non-executive directors: Mr Chu Chung Yue (Chairman), Mr Li Kanlin, and Mr Qi Xiaolei[77](index=77&type=chunk) - During the review year, the committee reviewed the annual financial statements, risk management and internal control systems, and recommended the reappointment of the external auditor; all members attended both meetings held[78](index=78&type=chunk)[81](index=81&type=chunk) [Remuneration Committee](index=19&type=section&id=Remuneration%20Committee) The Remuneration Committee is chaired by an independent non-executive director, Mr Li Kanlin, and is responsible for setting remuneration policies - The Remuneration Committee is chaired by Independent Non-Executive Director Mr Li Kanlin, with a majority of members being independent non-executive directors, ensuring the independence of its decisions[79](index=79&type=chunk) Senior Management Remuneration Bands for the Review Year | Remuneration Band (HKD) | Number of Individuals | | :--- | :--- | | 1,000,001 to 1,500,000 | 2 | [Nomination Committee](index=20&type=section&id=Nomination%20Committee) The Nomination Committee is chaired by the Board Chairman, Mr Yiu Yung Kit, and is responsible for reviewing the Board's structure and nominating director candidates - The Nomination Committee is responsible for regularly reviewing the structure, size, composition, and diversity of the Board and making recommendations to the Board on director appointments and succession planning[84](index=84&type=chunk) - The selection criteria of the nomination policy cover factors such as reputation, integrity, experience, time commitment, and diversity aspects including gender, age, and cultural background[88](index=88&type=chunk) [Risk Management and Shareholders' Rights](index=23&type=section&id=Risk%20Management%20and%20Shareholders'%20Rights) The Board holds ultimate responsibility for the Group's risk management and internal control systems and reviews their effectiveness through the internal audit function - The Board confirms its responsibility for the risk management and internal control systems and has reviewed and is satisfied with their effectiveness; the systems are designed to identify and manage risks but cannot provide absolute assurance against material misstatement or loss[96](index=96&type=chunk) - Shareholders holding not less than one-tenth of the company's paid-up share capital have the right to request a special general meeting[100](index=100&type=chunk) - The Company Secretary, Mr Wong Ngai, has undertaken no less than fifteen hours of relevant continuous professional training during the review year[99](index=99&type=chunk) [Report of the Directors](index=27&type=section&id=Report%20of%20the%20Directors) [Business and Financial Overview](index=27&type=section&id=Business%20and%20Financial%20Overview) This report outlines the Group's principal business as investment holding, with subsidiaries engaged in integrated building services, construction, and IT - The Company is an investment holding company, and its principal subsidiaries are engaged in integrated building services, building construction works, and the development and application of information technology[107](index=107&type=chunk) - The Board has resolved not to recommend the declaration of any final dividend for the review year[112](index=112&type=chunk) - During the review year, neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's securities[115](index=115&type=chunk) [Directors and Interests](index=28&type=section&id=Directors%20and%20Interests) This section discloses changes in the Board of Directors, service contracts, and the shareholding interests of directors and substantial shareholders Long Positions of Directors and Chief Executives in Ordinary Shares (as of March 31, 2025) | Director's Name | Capacity/Nature | Number of Shares Held | Approximate Percentage of Shareholding | | :--- | :--- | :--- | :--- | | Mr Yiu Yung Kit | Through controlled corporations and direct beneficial ownership | 366,175,000 | 30.64% | | Mr Yiu Chak Kin | Through a controlled corporation | 365,175,000 | 30.56% | - 365,175,000 shares are held by Morgan Hill Holdings Limited, which is 51% owned by Great Scenery Ventures Limited, which in turn is owned 50% each by Mr Yiu Yung Kit and his son, Mr Yiu Chak Kin[130](index=130&type=chunk)[133](index=133&type=chunk) - A substantial shareholder also includes Emperor Grand International Limited (wholly owned by Mr Zhu Guangping), which holds a 49% stake in Morgan Hill and is therefore deemed to have an interest in 365,175,000 shares (30.56%)[132](index=132&type=chunk)[134](index=134&type=chunk) [Share Option Scheme](index=32&type=section&id=Share%20Option%20Scheme) The company adopted a share option scheme in 2017, valid until 2027, to incentivize and retain eligible participants - The Share Option Scheme was adopted on January 5, 2017, for a period of ten years, to reward eligible participants such as employees, directors, and suppliers who contribute to the Group[135](index=135&type=chunk) - As of March 31, 2024, and March 31, 2025, there were no outstanding share options; no options were granted, exercised, cancelled, or lapsed during the review year[139](index=139&type=chunk) [Major Customers, Suppliers, and Related Party Transactions](index=33&type=section&id=Major%20Customers,%20Suppliers,%20and%20Related%20Party%20Transactions) During the review year, the Group's customer and supplier concentration was relatively high Percentage of Major Customers and Suppliers in the Review Year | Category | Percentage | | :--- | :--- | | **Largest Customer** | 23.24% | | **Five Largest Customers** | 58.13% | | **Largest Supplier** | 22.87% | | **Five Largest Suppliers** | 60.27% | - During the review year, all significant related party transactions were conducted in the ordinary course of business and none constituted discloseable connected transactions as defined by the Listing Rules[143](index=143&type=chunk)[144](index=144&type=chunk) [Environmental, Social and Governance Report](index=36&type=section&id=Environmental,%20Social%20and%20Governance%20Report) [Report Overview and Governance](index=36&type=section&id=Report%20Overview%20and%20Governance) This ESG report outlines the Group's management approach and performance in environmental, social, and governance aspects, covering its three main business segments - The Board of Directors assumes ultimate responsibility for overseeing ESG-related risks and opportunities and has authorized the executive committee and department heads to handle specific matters[154](index=154&type=chunk) - Through a materiality assessment, the report identified key ESG issues in two main categories: Environmental (emissions, resource use) and Social (employment, health and safety, labor standards, supply chain, product responsibility, anti-corruption, community investment)[164](index=164&type=chunk) [A. Environmental](index=39&type=section&id=A.%20Environmental) The Group is committed to balancing economic development with environmental protection and has established an environmental management system compliant with ISO 14001 [A1. Emissions](index=39&type=section&id=A1.%20Emissions) The Group's emissions primarily originate from vehicle fuel combustion (Scope 1) and electricity consumption (Scope 2) Greenhouse Gas Emissions Overview (tonnes of CO2e) | Scope | FY2025 | FY2024 | | :--- | :--- | :--- | | **Scope 1 (Vehicle Fuel)** | 550.78 | 536.63 | | **Scope 2 (Electricity Consumption)** | 117.22 | 97.43 | | **Scope 3 (Paper Disposal)** | 12.14 | 13.51 | | **Total Emissions** | **680.14** | **647.57** | | **Emission Intensity (tonnes/employee)** | **1.37** | **1.40** | - Emission reduction measures implemented by the Group include: - **Fuel Saving**: Regular vehicle maintenance, instructing drivers to turn off engines when idling, and monitoring fuel consumption - **Electricity Saving**: Turning off lights when not in use, posting energy-saving reminders, and setting air conditioning to 25.5°C - **Waste Management**: Encouraging electronic communication, double-sided printing, and setting up recycling bins[176](index=176&type=chunk)[179](index=179&type=chunk)[180](index=180&type=chunk) [A2. Resource Use](index=42&type=section&id=A2.%20Resource%20Use) This year, the Group's total energy consumption increased, but the energy consumption intensity per employee decreased Energy and Water Consumption | Indicator | Unit | FY2025 | FY2024 | | :--- | :--- | :--- | :--- | | **Total Energy Consumption** | kWh | 2,400,848.17 | 2,303,979.85 | | **Energy Consumption Intensity** | kWh/employee | 4,820.98 | 4,997.79 | | **Water Consumption** | m³ | 5,909.30 | 6,493.80 | | **Water Consumption Intensity** | m³/employee | 11.87 | 14.09 | [A3/A4. Environment, Natural Resources, and Climate Change](index=44&type=section&id=A3/A4.%20Environment,%20Natural%20Resources%20and%20Climate%20Change) The Group recognizes its business may impact the community and has identified and assessed potential risks from climate change - To address climate change risks, the Group has developed mitigation strategies: - **Physical Risks**: For extreme weather like heavy rain and typhoons, emergency work arrangements are in place, and flood prevention facilities are installed at construction sites - **Transition Risks**: Continuously monitoring environmental regulations and energy-saving technologies to prepare for potential cost increases[191](index=191&type=chunk) [B. Social](index=46&type=section&id=B.%20Social) The Group regards its employees as its most valuable asset and is committed to providing a healthy, safe, and equal employment environment [B1/B2. Employment, Health and Safety](index=46&type=section&id=B1/B2.%20Employment,%20Health%20and%20Safety) As an equal opportunity employer, the Group strictly adheres to Singapore's employment laws and implements non-discriminatory recruitment and promotion policies Employee Composition (as of March 31, 2025) | Category | Breakdown | Number | Percentage | | :--- | :--- | :--- | :--- | | **Total Employees** | | **498** | **100%** | | **By Gender** | Male | 442 | 88.8% | | | Female | 56 | 11.2% | | **By Age** | 18-25 | 33 | 6.6% | | | 26-40 | 325 | 65.3% | | | 41-55 | 107 | 21.5% | | | Over 55 | 33 | 6.6% | | **By Region** | Singapore | 472 | 94.8% | | | China | 19 | 3.8% | | | Hong Kong | 7 | 1.4% | - The Group has established an occupational health and safety management system with a primary goal of zero accidents; there have been no reported work-related fatalities in the past three fiscal years, and no lost days due to work injury during the review year[217](index=217&type=chunk)[218](index=218&type=chunk)[220](index=220&type=chunk) [B3/B4. Development, Training, and Labour Standards](index=52&type=section&id=B3/B4.%20Development,%20Training%20and%20Labour%20Standards) The Group is committed to the professional development of its employees, providing internal and external training opportunities and educational subsidies - During the review year, the average training hours per employee decreased, mainly because more training courses were held last year in response to industry reforms and updated safety measures following the end of the COVID-19 pandemic[224](index=224&type=chunk) - The Group strictly prohibits the employment of child labor under the age of 16 and verifies candidates' ages before signing employment contracts; it also forbids any form of forced labor, corporal punishment, or coercion[227](index=227&type=chunk) [B5. Supply Chain Management](index=54&type=section&id=B5.%20Supply%20Chain%20Management) The Group values long-term cooperation with its suppliers and subcontractors and has established a comprehensive procurement management system - Before engaging suppliers and subcontractors, the Group assesses their performance, including their environmental, health, and safety systems; those with poor performance are removed from the approved list[233](index=233&type=chunk) - During the review year, the Group had a total of 239 suppliers, with 230 located in Singapore and 9 in China[230](index=230&type=chunk) [B6. Product Responsibility](index=56&type=section&id=B6.%20Product%20Responsibility) The Group views quality customer service as key to sustainable development and has established efficient communication channels for handling inquiries and complaints - During the review year, the Group received no major complaints or project termination requests due to quality or safety issues, and no products were recalled for health and safety reasons[239](index=239&type=chunk) - The Group strictly protects customer privacy, requiring all employees to sign a commitment to comply with the Personal Data Protection Act 2012 and to be responsible for confidential information such as trade secrets[243](index=243&type=chunk) [B7/B8. Anti-corruption and Community Investment](index=57&type=section&id=B7/B8.%20Anti-corruption%20and%20Community%20Investment) The Group is committed to maintaining the highest standards of business ethics and has established strict anti-bribery, anti-corruption, and anti-money laundering policies - The Group has established a whistle-blowing policy that allows employees to report suspected cases confidentially, with disciplinary action, including legal action, taken for confirmed violations[248](index=248&type=chunk) - During the review year, no legal cases concerning corruption were brought against the Group or its employees[247](index=247&type=chunk) [Independent Auditor's Report](index=59&type=section&id=Independent%20Auditor's%20Report) [Independent Auditor's Report](index=59&type=section&id=Independent%20Auditor's%20Report) The auditor issued an unmodified opinion, stating the financial statements give a true and fair view and were properly prepared in accordance with IFRSs - The auditor's opinion is unmodified, concluding that the consolidated financial statements give a true and fair view of the Group's financial position and performance[252](index=252&type=chunk) - The key audit matter was "Revenue recognition from integrated building services and building construction works"; this was critical because revenue recognition involves a large number of customer orders and significant management judgment regarding contract progress, budgeted revenue, and costs[255](index=255&type=chunk) - The auditor's procedures for the key audit matter included: sampling contracts, testing actual costs, comparing recognized revenue with certificates from independent surveyors, and assessing the reasonableness of gross profit margins[256](index=256&type=chunk)[257](index=257&type=chunk) [Consolidated Financial Statements](index=64&type=section&id=Consolidated%20Financial%20Statements) [Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=64&type=section&id=Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) For the fiscal year ended March 31, 2025, the Group recorded revenue of SGD 109.8 million, a 29.9% year-on-year increase Consolidated Statement of Profit or Loss Summary (For the year ended March 31) | Item (SGD) | FY2025 | FY2024 | | :--- | :--- | :--- | | **Revenue** | 109,771,255 | 84,529,421 | | **Gross Profit** | 17,443,968 | 17,662,748 | | **(Loss)/Profit Before Tax** | (1,326,407) | 2,405,632 | | **(Loss)/Profit for the Year** | (1,477,001) | 2,012,520 | | **(Loss)/Profit Attributable to Owners of the Company** | (1,023,568) | 2,209,872 | | **Basic (Loss)/Earnings Per Share (SGD cents)** | (0.09) | 0.18 | [Consolidated Statement of Financial Position](index=65&type=section&id=Consolidated%20Statement%20of%20Financial%20Position) As of March 31, 2025, the Group's total assets were SGD 72.9 million, total liabilities were SGD 15.0 million, and net assets were SGD 57.9 million Consolidated Statement of Financial Position Summary (as of March 31) | Item (SGD) | 2025 | 2024 | | :--- | :--- | :--- | | **Non-current Assets** | 18,439,291 | 19,172,699 | | **Current Assets** | 54,426,216 | 54,724,322 | | **Total Assets** | **72,865,507** | **73,897,021** | | **Current Liabilities** | 14,813,854 | 14,300,292 | | **Non-current Liabilities** | 167,237 | 250,589 | | **Total Liabilities** | **14,981,091** | **14,550,881** | | **Net Assets** | **57,884,416** | **59,346,140** | | **Equity Attributable to Owners of the Company** | 58,094,737 | 59,106,091 | [Consolidated Statement of Changes in Equity](index=67&type=section&id=Consolidated%20Statement%20of%20Changes%20in%20Equity) As of March 31, 2025, total equity attributable to the owners of the Company was SGD 58.1 million, a decrease of approximately SGD 1.0 million from the beginning of the year - Equity attributable to the owners of the Company decreased from SGD 59,106,091 at the beginning of the year to SGD 58,094,737 at year-end[274](index=274&type=chunk) - The change in equity was mainly affected by the following factors: - **Loss for the year**: -SGD 1,023,568 - **Exchange differences on translation of foreign operations**: -SGD 56,007 - **Fair value gain on equity investments at FVOCI**: +SGD 68,221[274](index=274&type=chunk) [Consolidated Statement of Cash Flows](index=69&type=section&id=Consolidated%20Statement%20of%20Cash%20Flows) During the review year, the Group's net decrease in cash and cash equivalents was SGD 3.9 million Consolidated Statement of Cash Flows Summary (For the year ended March 31) | Item (SGD) | FY2025 | FY2024 | | :--- | :--- | :--- | | **Net Cash Used in Operating Activities** | (4,597,859) | (9,753,126) | | **Net Cash Generated from Investing Activities** | 1,419,078 | 10,914,246 | | **Net Cash Used in Financing Activities** | (725,297) | (538,251) | | **Net (Decrease)/Increase in Cash and Cash Equivalents** | (3,904,078) | 622,869 | | **Cash and Cash Equivalents at Beginning of Year** | 15,804,006 | 15,317,016 | | **Cash and Cash Equivalents at End of Year** | 11,861,692 | 15,804,006 | [Notes to the Consolidated Financial Statements](index=71&type=section&id=Notes%20to%20the%20Consolidated%20Financial%20Statements) [Significant Accounting Policies](index=73&type=section&id=Significant%20Accounting%20Policies) This section details the principal accounting policies used in preparing the consolidated financial statements, which are based on IFRS and the historical cost basis - Revenue from integrated building services and building construction works is recognized over time using the output method, based on the value of work completed[297](index=297&type=chunk)[299](index=299&type=chunk) - The Group accounts for digital assets held for trading as inventories and applies the guidance for commodity broker-traders, measuring them at fair value less costs to sell, with changes in fair value recognized in profit or loss[342](index=342&type=chunk)[366](index=366&type=chunk) - The Group applies the expected credit loss (ECL) model for impairment assessment of financial assets such as trade and other receivables[319](index=319&type=chunk)[320](index=320&type=chunk) [Revenue and Segment Information](index=96&type=section&id=Revenue%20and%20Segment%20Information) The Group's revenue is primarily derived from three business segments: integrated building services, building construction works, and IT development and application FY2025 Revenue Composition (SGD) | Business Segment | Revenue Source | Amount | | :--- | :--- | :--- | | **Integrated Building Services** | From contracts with customers | 70,077,172 | | **Building Construction Works** | From contracts with customers | 35,723,203 | | **IT Development and Application** | From contracts with customers | 79,345 | | | Digital asset trading and fair value changes | 3,891,535 | | **Total** | | **109,771,255** | - **High customer concentration**: Revenue from Customer A and Customer B combined accounted for 35.6% of total revenue - Customer A: SGD 13,594,290 - Customer B: SGD 25,508,031[383](index=383&type=chunk) - The vast majority of revenue is derived from the Singapore market, accounting for over 96%[385](index=385&type=chunk) [Key Asset and Liability Analysis](index=107&type=section&id=Key%20Asset%20and%20Liability%20Analysis) This section provides a detailed analysis of key items on the balance sheet, including property, plant and equipment, inventories, and trade receivables - The total carrying amount of property, plant and equipment is SGD 15,890,282, of which right-of-use assets (mainly leased properties) account for SGD 14,772,388[408](index=408&type=chunk)[409](index=409&type=chunk) - Inventories increased from SGD 2.6 million to SGD 6.1 million, primarily due to an increase in digital asset inventories from SGD 2.2 million to SGD 5.7 million[428](index=428&type=chunk) - Trade receivables increased from SGD 16.0 million to SGD 18.9 million, with billed receivables within 90 days accounting for approximately 82%[431](index=431&type=chunk)[432](index=432&type=chunk) - Due to the continued poor performance of Hangzhou Shunpu, the Group recognized an impairment loss of SGD 518,128 on its interest in the associate[415](index=415&type=chunk) [Financial Instruments and Risk Management](index=134&type=section&id=Financial%20Instruments%20and%20Risk%20Management) This section details the Group's financial risks and its management strategies, covering price, custody, market, credit, and liquidity risks - The IT business faces digital asset price volatility and custody risks; the Group manages these by monitoring holding levels and using a combination of "hot" and "cold" wallets[479](index=479&type=chunk)[481](index=481&type=chunk) - **Credit risk is concentrated**, with receivables from the largest customer and top five customers accounting for 28% and 61% of the total, respectively; there is also concentration in receivables from a single broker[490](index=490&type=chunk) - **Currency risk** mainly arises from assets denominated in USD; a sensitivity analysis shows that a 5% depreciation/appreciation of the SGD against the USD would decrease/increase the pre-tax loss by approximately SGD 0.575 million[486](index=486&type=chunk)[487](index=487&type=chunk) - Digital asset inventories (SGD 5,661,854) are classified as Level 1 fair value measurement, with their value determined by reference to quoted prices in major markets[513](index=513&type=chunk)[514](index=514&type=chunk) [Other Significant Notes](index=123&type=section&id=Other%20Significant%20Notes) This section covers related party transactions, subsidiary details, the share option scheme, and post-reporting period events - Total remuneration for key management personnel was SGD 2,444,371, a slight increase from last year's SGD 2,424,801[450](index=450&type=chunk) - **Post-reporting period event**: The market price of Bitcoin rose from approximately USD 83,000 on March 31, 2025, to approximately USD 108,000 as of the report date[519](index=519&type=chunk) - The directors consider Mr Yiu Yung Kit to be the ultimate controlling party of the Group[520](index=520&type=chunk) [Financial Summary](index=151&type=section&id=Financial%20Summary) [Financial Summary](index=151&type=section&id=Financial%20Summary) This section provides a summary of the Group's results, assets, and liabilities over the past five fiscal years Five-Year Financial Summary (SGD million) | Item | 2025 | 2024 | 2023 | 2022 | 2021 | | :--- | :--- | :--- | :--- | :--- | :--- | | **Revenue** | 109.8 | 84.5 | 57.8 | 44.7 | 49.1 | | **Gross Profit** | 17.4 | 17.7 | 9.1 | 12.0 | 21.8 | | **(Loss)/Profit for the Year** | (1.5) | 2.0 | (6.5) | (1.2) | 7.0 | | **(Loss)/Profit Attributable to Owners of the Company** | (1.0) | 2.2 | (6.4) | (1.0) | 5.3 | | **Total Assets** | 72.9 | 73.9 | 68.5 | 73.0 | 75.8 | | **Total Liabilities** | 15.0 | 14.6 | 10.6 | 9.5 | 11.3 | | **Total Equity** | 57.9 | 59.3 | 58.0 | 63.5 | 64.5 |

Core Viewpoint - The article highlights significant stock movements in the Hong Kong and US markets, indicating various companies experiencing notable gains due to specific events or developments. Hong Kong Market Highlights - Li Auto (02015) saw a rise of over 3% as the launch of the Li i8 is set for July 29 [1] - Chinese banks experienced gains, with Zhengzhou Bank (06196) up 6.06%, Minsheng Bank (01988) up 4.97%, CITIC Bank (00998) up 3.24%, and Industrial and Commercial Bank of China (01398) up 1.8% [1] - Jiuyuan Gene (02566) increased by over 6% following the approval of its drug by the National Medical Products Administration [1] - Conant Optical (02276) rose over 6% as its net profit is expected to increase by over 30% year-on-year [1] - Puxing Energy (00090) surged over 220% after acquiring equity in HashKey Holdings Limited, entering the digital asset finance sector [1] - Blucube (00325) saw a rise of over 8% as it faced its first share unlock, with an accelerated pace of new product launches [1] - InnoCare Pharma (02577) rose over 5% as TSMC exited the GaN business, prompting cornerstone investors to extend their lock-up period [2] - Jitu Express (01519) increased over 4% due to strong package volume performance in Southeast Asia [2] - Apple-related stocks saw gains, with Cowell (01478) up 5.14%, Sunny Optical (02382) up 4.99%, BYD Electronics (00285) up 4.67%, and AAC Technologies (02018) up 1.89% [2] - From Yuzhi Agriculture (00875) surged over 13% as the company aims to build a comprehensive modern agriculture flagship group [2] - Fenbi (02469) rose over 5% following an upgrade to its AI question-answering system, which is expected to drive performance growth [2] - E-Surfing (02550) increased over 16% after Barclays acquired a 280 million stake and partnered with Huawei Cloud [2] - Cryptocurrency ETF and related stocks rose, with New Fire Technology Holdings (01611) up 10.82%, Xiong'an Technology (01647) up 10.23%, and others [2] - Superstar Legend (06683) surged over 20% as Jay Chou joined Douyin, gaining over 10 million followers [3] - Cornerstone Pharmaceuticals (02616) rose over 4% after its drug production application was approved by NMPA [3] - Longguang Group (03380) opened over 4% higher as its debt restructuring plan was approved by creditors [3] - Saijing Technology (00580) opened over 8% after announcing a projected net profit of approximately 90 million, a 167% year-on-year increase [3] - Derin Holdings (01709) opened nearly 15% higher as it plans to tokenize up to 500 million HKD in assets for distribution to shareholders [3] US Market Highlights - Deutsche Bank (DB.US) rose over 3% as it restructures its wealth management business in Germany to improve profitability [4] - UnitedHealth (UNH.US) fell over 1% amid reports of a US Department of Justice investigation into its medical insurance billing [4] - Futu Holdings (FUTU.US) increased over 9% after Morgan Stanley raised its target price to 160 USD [4] - Boeing (BA.US) rose over 3% as June aircraft deliveries reached an 18-month high [4] - Meta (META.US) increased nearly 2% as it reportedly invested 3.5 billion USD to enhance its AI smart glasses business [4] - Nvidia (NVDA.US) rose nearly 2%, reaching a historic high with a market capitalization of 4 trillion USD [4] - Microsoft (MSFT.US) hit a historic high with a market capitalization of 3.74 trillion USD, following an upgrade from Oppenheimer [4]

[Full Year Results Announcement](index=1&type=section&id=Full%20Year%20Results%20Announcement) The Group reported significant revenue growth but a net loss for the year, driven by building-related businesses, while maintaining stable financial position and planning diversification into broader internet technologies [Financial Statements](index=1&type=section&id=Financial%20Statements) The Group recorded significant revenue growth but turned from profit to loss during the review year, with revenue increasing by 29.9% to S$109.8 million and a net loss of S$1.48 million, while total assets and net assets remained relatively stable [Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=1&type=section&id=Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) During the review year, Group revenue grew 29.9% to S$109.8 million, driven by building services and construction, but increased administrative expenses and reduced other income led to a net loss attributable to owners of S$1.02 million, resulting in a basic and diluted loss per share of S$0.09 cents Key Consolidated Statement of Profit or Loss Data | Metric | 2025 (S$) | 2024 (S$) | Year-on-Year Change | | :--- | :--- | :--- | :--- | | **Revenue** | 109,771,255 | 84,529,421 | +29.9% | | **Gross Profit** | 17,443,968 | 17,662,748 | -1.2% | | **(Loss)/Profit Before Tax** | (1,326,407) | 2,405,632 | Turned from Profit to Loss | | **(Loss)/Profit for the Year** | (1,477,001) | 2,012,520 | Turned from Profit to Loss | | **(Loss)/Profit Attributable to Owners of the Company** | (1,023,568) | 2,209,872 | Turned from Profit to Loss | | **Basic and Diluted (Loss)/Earnings Per Share (Singapore Cents)** | (0.09) | 0.18 | Turned from Profit to Loss | [Consolidated Statement of Financial Position](index=3&type=section&id=Consolidated%20Statement%20of%20Financial%20Position) As of March 31, 2025, the Group's total assets were S$72.87 million, largely stable year-on-year, while net assets slightly decreased to S$57.88 million, with changes in current asset structure including increased inventories and trade receivables, and decreased bank balances and cash Key Consolidated Statement of Financial Position Data | Metric | 2025 (S$) | 2024 (S$) | Year-on-Year Change | | :--- | :--- | :--- | :--- | | **Total Assets** | 72,865,507 | 73,897,021 | -1.4% | | **Total Liabilities** | 14,981,091 | 14,550,881 | +2.9% | | **Net Assets** | 57,884,416 | 59,346,140 | -2.5% | | **Net Current Assets** | 39,612,362 | 40,424,030 | -2.0% | | **Bank Balances and Cash** | 11,861,692 | 15,804,006 | -24.9% | [Notes to the Consolidated Financial Statements](index=5&type=section&id=Notes%20to%20the%20Consolidated%20Financial%20Statements) This section details the basis of financial statement preparation, application of accounting policies, and breakdown of key financial items, highlighting the Group's primary operations in integrated building services, building construction, and IT development, with Singapore as its main source of operations and revenue [1. General Information & Accounting Policies](index=5&type=section&id=1.%20General%20Information%20%26%20Accounting%20Policies) The Company, an investment holding company listed on the HKEX, operates primarily in Singapore through subsidiaries engaged in integrated building services, construction, and IT, with financial statements presented in Singapore Dollars under IFRS, and new accounting standards adopted this year having no significant impact - The Group's principal activities include integrated building services (M&E system maintenance and minor renovation works), building construction, and information technology development and application[8](index=8&type=chunk) - Financial statements are presented in Singapore Dollars, which is also the Company's functional currency[9](index=9&type=chunk) - The application of new and revised International Financial Reporting Standards during the year had no significant impact on the Group's financial position and performance[11](index=11&type=chunk) [4. Revenue and Segment Information](index=7&type=section&id=4.%20Revenue%20and%20Segment%20Information) Total revenue for the year was S$109.8 million, with integrated building services contributing S$70.08 million and building construction S$35.72 million, predominantly from Singapore, and two major customers (A and B) collectively accounted for 35.6% of total revenue Revenue by Business Segment | Business Segment | Revenue 2025 (S$) | Revenue 2024 (S$) | | :--- | :--- | :--- | | Integrated Building Services | 70,077,172 | 56,055,847 | | Building Construction | 35,723,203 | 20,791,054 | | Information Technology Development and Application | 3,970,880 | 7,682,520 | | **Total** | **109,771,255** | **84,529,421** | Revenue from Major Customers | Customer | Revenue 2025 (S$) | Revenue 2024 (S$) | | :--- | :--- | :--- | | Customer A | 13,594,290 | 13,699,674 | | Customer B | 25,508,031 | 18,879,453 | - Geographically, Singapore contributed **S$105.8 million** in revenue, accounting for over **99.9%** of customer contract revenue[20](index=20&type=chunk) [6. Profit before Tax](index=10&type=section&id=6.%20Profit%20before%20Tax) Details of the loss before tax show depreciation of property, plant, and equipment at S$1.57 million and impairment loss on financial assets at S$0.74 million, while total staff costs increased from S$14.07 million to S$16.17 million, and subcontractor costs significantly rose from S$52.62 million to S$76.55 million Key Expense Items | Item | 2025 (S$) | 2024 (S$) | | :--- | :--- | :--- | | Depreciation of Property, Plant and Equipment | 1,570,242 | 1,077,810 | | Impairment Loss on Financial Assets | 736,479 | 145,918 | | Total Staff Costs | 16,174,796 | 14,073,614 | | Subcontractor Costs | 76,548,466 | 52,619,297 | [8. Dividends & 9. EPS](index=11&type=section&id=8.%20Dividends%20%26%209.%20EPS) The Board does not recommend any dividend for the year ended March 31, 2025, and due to a loss attributable to owners of S$1.02 million, basic and diluted loss per share was S$0.09 cents, compared to earnings per share of S$0.18 cents in the prior year - The Directors do not recommend the payment of any dividend for the year ended March 31, 2025[24](index=24&type=chunk) Basic and Diluted (Loss)/Earnings Per Share Calculation | Metric | 2025 | 2024 | | :--- | :--- | :--- | | (Loss)/Profit Attributable to Owners of the Company (S$) | (1,023,568) | 2,209,872 | | Weighted Average Number of Ordinary Shares in Issue | 1,195,040,000 | 1,195,040,000 | | **Basic and Diluted (Loss)/Earnings Per Share (Singapore Cents)** | **(0.09)** | **0.18** | [10. Trade Receivables & 11. Trade Payables](index=12&type=section&id=10.%20Trade%20Receivables%20%26%2011.%20Trade%20Payables) Total trade receivables increased from S$16.03 million to S$18.92 million, with approximately 82% of invoiced receivables due within 90 days, while total trade payables rose from S$7.13 million to S$9.25 million, with most also due within 90 days - Total trade receivables increased from **S$16.0 million** to **S$18.9 million**, with unbilled portions decreasing from **S$6.5 million** to **S$3.2 million**[26](index=26&type=chunk) Ageing Analysis of Invoiced Trade Receivables | Ageing | 2025 (S$) | 2024 (S$) | | :--- | :--- | :--- | | Within 90 days | 12,888,246 | 7,889,762 | | 91 to 180 days | 1,847,677 | 981,829 | | Over 180 days | 998,550 | 640,621 | | **Total** | **15,734,473** | **9,512,212** | - Trade payables increased from **S$7.13 million** to **S$9.25 million**, with credit terms from suppliers and subcontractors typically ranging from **15 to 90 days**[28](index=28&type=chunk) [Management Discussion & Analysis](index=14&type=section&id=Management%20Discussion%20%26%20Analysis) Management reviewed the year's operating and financial performance, noting strong growth in building-related businesses but pressure on gross margin due to decreased digital asset trading revenue and rising costs, leading to a net loss, with future plans to expand into broader internet technologies like e-commerce and AI while consolidating existing operations [Business Review and Prospects](index=14&type=section&id=Business%20Review%20and%20Prospects) Revenue increased to S$109.8 million this year, but gross margin declined from 20.9% to 15.9%, with management foreseeing challenges in Singapore's construction sector due to economic uncertainty and labor shortages, while digital asset trading revenue decreased due to strategic reduction in volume amid high Bitcoin prices, and the Group plans to diversify into e-commerce and AI - Group revenue increased to approximately **S$109.8 million**, but gross margin decreased from **20.9%** to **15.9%**[29](index=29&type=chunk) - Management believes the construction industry outlook for 2025 remains challenging due to global economic uncertainties, intense market competition, and labor shortages[30](index=30&type=chunk) - The Group plans to expand into broader internet technology-related businesses, including e-commerce, digital media marketing, artificial intelligence, and virtual reality technologies, moving beyond a sole focus on blockchain technology[31](index=31&type=chunk) [Financial Review](index=15&type=section&id=Financial%20Review) This section details financial performance changes, with total revenue up 29.9% driven by integrated building services (+25.0%) and building construction (+71.6%), while IT business revenue declined due to strategic reduction in Bitcoin transactions, and increased administrative expenses (+15.3%) and reduced other income were key factors in the Group turning from profit to loss Revenue Changes by Business Segment | Business Segment | Revenue 2025 (S$ Million) | Revenue 2024 (S$ Million) | Year-on-Year Change | | :--- | :--- | :--- | :--- | | Integrated Building Services | 70.1 | 56.1 | +25.0% | | Building Construction | 35.7 | 20.8 | +71.6% | | Information Technology Development and Application | 4.0 | 7.7 | -48.1% | - The decline in gross margin was primarily due to reduced revenue from high-margin IT business and higher cost increases than revenue increases in building-related businesses due to increased use of subcontractors[37](index=37&type=chunk) - Administrative expenses increased by **S$2.4 million** (**+15.3%**), mainly due to an increase in the total number of employees and salary adjustments[38](index=38&type=chunk) - The Group turned from a profit of **S$2.2 million** last year to a loss of **S$1.0 million** this year, primarily due to increased administrative expenses and reduced other income[41](index=41&type=chunk) [Liquidity and Financial Resources](index=18&type=section&id=Liquidity%20and%20Financial%20Resources) The Group's financial position remained stable, with bank balances and cash of approximately S$11.9 million and a current ratio of 3.7 times at period-end, while the debt-to-equity ratio (loans and lease liabilities/total equity) remained low at 1.1%, and the Group faces foreign exchange risk without hedging instruments Key Financial Ratios | Metric | March 31, 2025 | March 31, 2024 | | :--- | :--- | :--- | | Bank Balances and Cash | Approx. S$11.9 million | Approx. S$15.8 million | | Current Ratio | Approx. 3.7 times | Approx. 3.8 times | | Debt-to-Equity Ratio | Approx. 1.1% | Approx. 0.7% | - The Group is exposed to foreign exchange risk from non-Singapore Dollar denominated assets and liabilities, recording a foreign exchange loss of approximately **S$29,000** for the year[45](index=45&type=chunk) [Other Disclosures](index=18&type=section&id=Other%20Disclosures) During the review year, the Group had no significant acquisitions or disposals, and the number of full-time employees increased from 461 to 498, with a notable increase in Bitcoin market price after the reporting period - There were no significant acquisitions or disposals of subsidiaries, associates, and joint ventures during the review year[46](index=46&type=chunk) - As of the end of the review year, the Group employed **498** full-time employees, an increase from **461** in the previous year[47](index=47&type=chunk) - Significant post-reporting period event: The market price of Bitcoin increased from approximately **US$83,000** as of March 31, 2025, to approximately **US$108,000** as of the announcement date[48](index=48&type=chunk) [Corporate Governance & Other Information](index=19&type=section&id=Corporate%20Governance%20%26%20Other%20Information) This section outlines the Company's corporate governance practices, securities trading, and audit information, noting compliance with most Corporate Governance Code provisions, except for the continuous vacancy of the CEO position since July 2021, and the audit committee's review of the annual results [Corporate Governance](index=19&type=section&id=Corporate%20Governance) The Company has adopted and complied with the Corporate Governance Code, with one deviation: the CEO position has remained vacant since July 2021, while the roles of Chairman and CEO are separate, and neither the Company nor its subsidiaries purchased, sold, or redeemed any Company securities during the review year - The Company complies with the Corporate Governance Code, with a deviation from Code Provision C.2.1, as the Chief Executive Officer position has remained vacant since the resignation on July 23, 2021[50](index=50&type=chunk) - Neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's securities during the review year[51](index=51&type=chunk) [Audit & Disclosure](index=19&type=section&id=Audit%20%26%20Disclosure) The Company's Audit Committee has reviewed the annual consolidated financial results, and auditor Evergreen (Hong Kong) CPA Limited confirmed consistency of financial figures in this announcement with audited consolidated financial statements, though this does not constitute an assurance opinion on the announcement, with the full annual report to be published by July 31, 2025 - The Group's consolidated financial results for the review year have been reviewed by the Company's Audit Committee[52](index=52&type=chunk) - Auditor Evergreen (Hong Kong) CPA Limited has agreed that the financial figures in this announcement are consistent with those in the audited consolidated financial statements, but has not expressed an opinion on the preliminary announcement[53](index=53&type=chunk) - The annual report containing all statutory information will be dispatched and published on the website on or before July 31, 2025[54](index=54&type=chunk)

Group 1 - Bitcoin has surpassed $100,000, leading to positive performance in Hong Kong's Bitcoin-related stocks [1] - OK Group (01499) has seen an increase of over 13% [1] - Xiong'an Technology (01647.HK) has risen by more than 6% [1] - Boya Interactive (00434.HK) has also increased by 6% [1]

消息方面， 比特币涨0.61%，报98886美元。 财联社1月6日电，截至发稿，雄岸科技(01647.HK)涨9.72%、博雅互动(00434.HK)涨7.31%、新火科技控 股(01611.HK)涨5.61%。 ...