火岩控股有限公司 FIRE ROCK HOLDINGS LIMITED ( 於 開 曼 群 島 註 冊 成 立 的 有 限 公司 ) 股份代號：1909 2024 年度報告 火岩控股有限公司 FIRE ROCK HOLDINGS LIMITED (Incorporated in the Cayman Islands with limited liability) Stock code：1909 2024 ANNUAL REPORT 火 岩 控 股 有 限 公 司 FIRE R O CK H O L DIN E D Annual Report 2024 GS LIMIT 年 度報告 | 目錄 | | | --- | --- | | 釋義 | 2 | | 公司資料 | 4 | | 財務摘要 | 5 | | 管理層討論與分析 | 6 | | 企業管治報告 | 14 | | 環境、社會及管治報告 | 27 | | 董事及高級管理層 | 55 | | 董事會報告 | 60 | | 獨立核數師報告 | 69 | | 綜合損益及其他全面收益表 | 74 | | 綜合財務狀況表 | 75 | | 綜合權益變動表 | 76 | ...

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。 （於開曼群島註冊成立的有限公司） （股份代號：1909） 截至二零二四年十二月三十一日止年度的年度業績公告 概要 年度業績 本公司董事（「董事」）會（「董事會」）謹此宣佈本公司及其附屬公司（統稱「本集團」）截至二 零二四年十二月三十一日止年度之經審核綜合業績，連同截至二零二三年十二月三十一 日止年度之比較數字。 – 1 – 於二零二四年十二月三十一日 | | | 二零二四年 | 二零二三年 | | --- | --- | --- | --- | | | 附註 | 千港元 | 千港元 | | 非流動資產 | | | | | 物業、廠房及設備 | | 3,549 | 5,077 | | 無形資產 | 10 | 23,538 | 15,350 | | 使用權資產 | | 2,022 | 1,172 | | 按公平值計入損益的金融資產 | | 26,333 | 27,511 | | 按金 | | 138 | 84 ...

Financial Performance - For the six months ended June 30, 2024, the company's profit attributable to equity holders was HKD 6.8 million, a significant decrease from HKD 581.7 million for the same period in 2023, primarily due to a one-time non-recurring income from the issuance of promissory notes reported in 2023[11]. - The company's revenue for the six months ended June 30, 2024, was approximately HKD 63.0 million, a decrease of about HKD 1.5 million compared to HKD 64.5 million for the same period in 2023, influenced by market conditions and overall economic status[13]. - The total game revenue for the Asia-Pacific region for the six months ended June 30, 2024, was HKD 62.999 million, representing 100% of the company's total revenue for that period, consistent with the previous year[14]. - Other income significantly decreased to approximately HKD 0.2 million for the six months ended June 30, 2024, from HKD 592.7 million in the same period in 2023, mainly due to a one-time non-recurring income recognized in 2023[18]. - Profit attributable to owners for the six months ended June 30, 2024, was approximately HKD 6.8 million, a significant decrease of about 98.8% from HKD 581.7 million for the same period in 2023, primarily due to the aforementioned one-time income in 2023[23]. - The earnings per share for the six months ended June 30, 2024, was approximately HKD 0.18, compared to HKD 15.15 for the same period in 2023[41]. - The net profit for the period was HKD 14,063 thousand, a significant decrease from HKD 587,640 thousand in the previous year, reflecting a decline of 97.6%[64]. - Basic and diluted earnings per share dropped to HKD 0.18 from HKD 15.15, indicating a substantial decline in profitability[64]. Cost and Expenses - Direct costs for the six months ended June 30, 2024, totaled approximately HKD 10,783,000, a decrease from HKD 11,979,000 for the same period in 2023, primarily due to a reduction in agency distribution costs[15][16]. - Gross profit for the six months ended June 30, 2024, was approximately HKD 52.2 million, compared to HKD 52.6 million for the same period in 2023, with a gross margin increase to 82.9% from 81.4% due to effective cost control[17]. - Promotion costs increased to approximately HKD 26.6 million for the six months ended June 30, 2024, from HKD 25.1 million in the same period in 2023, attributed to higher advertising and promotional expenses[19]. - Administrative expenses decreased by approximately 12.9% to HKD 14.2 million for the six months ended June 30, 2024, down from HKD 16.3 million in the same period in 2023, mainly due to reduced professional fees[21]. Cash Flow and Assets - As of June 30, 2024, the company's cash and cash equivalents were approximately HKD 61.8 million, down from HKD 85.5 million as of December 31, 2023[26]. - The total amount used for acquiring adaptation rights opportunities was HKD 3.6 million, representing 12.5% of the total proceeds utilized[39]. - Non-current assets increased to HKD 67,324 thousand as of June 30, 2024, compared to HKD 51,364 thousand at the end of 2023, representing a growth of 31%[65]. - Cash and cash equivalents decreased to HKD 61,831 thousand from HKD 85,492 thousand, a decline of 27.7%[70]. - Total assets less current liabilities stood at HKD 144,426 thousand, up from HKD 142,568 thousand, indicating a slight increase of 1.3%[66]. - The company’s equity attributable to owners increased to HKD 133,837 thousand from HKD 131,072 thousand, reflecting a growth of 2.1%[66]. Business Strategy and Operations - The company plans to strengthen its business related to third-party licensed game publishing, intellectual property licensing services for enterprises, online marketing, digital support activities, and overseas game operations[11]. - The company is strategically expanding its main business to include more diverse services, including internet application technology and investment businesses[11]. - The company continues to engage in the development of web games, mobile games, and related software, licensing its self-developed games to authorized operators globally[12]. - The company is focusing on enhancing its online marketing and digital support activities as part of its growth strategy[11]. - The company plans to continue expanding its game development and operation services in overseas markets, focusing on enhancing its product offerings and market reach[71]. Governance and Compliance - The company has undergone a review of its interim results by the audit committee, ensuring the accuracy of its financial reporting[10]. - The audit committee has reviewed the unaudited financial statements for the six months ending June 30, 2024, and confirmed compliance with applicable accounting standards and listing rules[58]. - The internal control review identified significant weaknesses and provided corrective recommendations to enhance the internal control system[60]. - The company has established a governance and compliance manual to strengthen integrity and professional conduct standards among employees[61]. - The board has approved a monthly reporting procedure to ensure compliance with corporate governance codes, focusing on financial, operational, and compliance matters[62]. - The internal control consultant recommended expanding conflict of interest reporting requirements to include senior management and employees with significant influence in decision-making processes[63]. - The company is committed to improving the reporting mechanism for operational risks and issues directly to the board[62]. - A clear evaluation mechanism for the qualifications of all directors and senior management personnel is being developed to ensure ongoing assessment of their integrity and capabilities[63]. - The internal control review aims to identify weaknesses in existing policies and procedures related to corporate governance and financial reporting cycles[59]. - The company has engaged a professional internal control consultant to conduct a comprehensive review of its internal control systems[59]. Shareholder Information - Major shareholders include Safron International Limited with 1,310,000,000 shares (34.11%) and Mr. Zhang Yan with 1,566,800,000 shares (40.80%)[46]. - Mr. Zhang Yan's total equity includes 76,800,000 shares (2.00%) as a beneficial owner and 180,000,000 shares (4.69%) through Infinities Investment Pte. Ltd.[47]. - The company has a stock option plan with a total of 192,000,000 shares available for issuance, representing 5% of the issued share capital[49]. - No stock options have been granted since the adoption of the stock option plan on January 24, 2016[50]. - The share award plan adopted on September 12, 2018, has granted 8,496,000 shares to 47 employees, with no further grants made since then[51]. - As of June 30, 2024, there are no unexercised or unvested awards under the share award plan[52]. - There are no competitive interests held by directors or major shareholders in any competing businesses during the reporting period[53]. - The company has not entered into any significant contracts with the controlling shareholder during the reporting period[54]. - No repurchase, sale, or redemption of the company's listed securities occurred in the six months ending June 30, 2024[56]. Other Information - The group sold its entire stake in Lord Metaverse Co., Ltd. for a cash consideration of THB 810,000 (approximately HKD 185,000) in March 2023[34]. - The group has not authorized any plans for significant investments or capital asset acquisitions as of the report date[35]. - The group has no significant contingent liabilities as of June 30, 2024, consistent with the previous year[36]. - The group is actively seeking opportunities to acquire appropriate material adaptation rights but has not reached any specific agreements as of June 30, 2024[40]. - The group has not implemented any foreign currency hedging policies but closely monitors foreign exchange risks[37]. - The group did not report any revenue from individual customers accounting for more than 10% of total revenue[83]. - The group recognized deferred revenue related to in-game purchases from paying players, classified as contract liabilities under HKFRS 15[98]. - The group established a new lease agreement in China during the six months ended June 30, 2024, compared to none in the previous year[92]. - There were no significant events occurring after the reporting period up to the date of this report[103].

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。 （於開曼群島註冊成立的有限公司） （股份代號：1909） 截至二零二四年六月三十日止六個月的 中期業績公告 | --- | |-------------------------------------------------------------------------------------------------------------------------------------------------| | | | 財務摘要（未經審核） | | — 截至二零二四年六月三十日止六個月，本集團的收入由截至二零二三年六月三十 | | 日止六個月約 64.5 百萬港元減少至約 63.0 百萬港元，減幅為約 2.3% 。 | | — 截至二零二四年六月三十日止六個月，本集團的毛利由截至二零二三年六月三十 日止六個月約 52.6 百萬港元減少至約 52.2 百萬港元，減幅為約 0.8% 。 | | — 截 ...

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，並明確表示概不就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。 （於開曼群島註冊成立的有限公司） （股份代號：1909） 有關截至2023年12月31日止年度的年度報告的 補充公告 茲提述火岩控股有限公司（「本公司」，連同其附屬公司統稱「本集團」）於2024年4月 25日刊發截至2023年12月31日止年度的年度報告（「2023年年報」）。除文義另有所指 外，本公告所用詞彙與2023年年報所界定者具有相同涵義。 除2023年年報所提供的資料外，董事會謹此提供下列有關(i)配售所得款項用途 及(ii)本公司由2018年9月12日至2021年9月11日採納的股份獎勵計劃（「股份獎勵計 劃」）的詳情的資料。 – 1 – 配售所得款項用途 截至2023年12月31日使用配售所得款項淨額的分析載列如下： | --- | --- | --- | --- | --- | --- | --- | --- | |------------------------------------- ...

(a) 遊戲營運及發行收入 (g) 收入確認（續） (b) 軟件授權服務 4. 重大會計政策資料（續） 本集團亦向第三方遊戲開發商提供發行服務以及向第三方提供遊戲開發及其他服務。收入於 提供服務及服務的控制權轉移予客戶時確認。 現金及現金等價物包括手頭現金及銀行活期存款，以及隨時可轉換為已知金額現金及所承受價值 變動風險不大，且原到期日為三個月或以內之其他短期高流動性投資。 本公司發行的股本工具按已收所得款項扣除直接發行成本記賬。 綜合財務報表附註 二零二三年十二月三十一日 ii. 訂定提名董事的政策，物色具備合適資格可擔任董事會成員的人士，挑選被提名人士出任董事或就此向 董事會提出建議。委員會於物色合適人士時，應考慮有關人士的長處，並以客觀條件充分顧及董事會成 員多元化的裨益； 報告範圍及期間 環境、社會及管治報告 非執行董事 Annual Report 2023 年 度報告 2023 ANNUAL REPORT | --- | --- | |--------------------|-------------------------------------------------------------- ...

| --- | --- | --- | --- | |-------------------------------------------------------------------------------------------------------------------------|-------|----------------------------------------------------------------------------------|------------------------------------------------| | | 附註 | 二零二三年 千港元 | 二零二二年 千港元 | | 收入 直接成本 | 5 | 134,927 (27,388) | 115,063 (38,470) | | 毛利 其他收入 按公平值計入損益的金融資產公平值變動 研究成本 推廣成本 行政開支 出售附屬公司的虧損 融資成本 | 5 | 107,539 594,444 (2,255) (19,780) (55,471) (31,670) (2,880) (9,138) | 7 ...

Financial Performance - The company reported a significant increase in revenue, achieving a total of $XX million for the first half of 2023, representing a YY% growth compared to the same period last year[18]. - For the six months ended June 30, 2023, the company's revenue was approximately HKD 64.5 million, an increase from HKD 52.4 million for the same period in 2022, primarily due to increased revenue from the game publishing and operation segment[41]. - The company's profit attributable to equity holders for the six months ended June 30, 2023, was HKD 586.4 million, compared to HKD 20.4 million for the same period in 2022[62]. - The net profit for the period was HKD 592,295,000, a substantial rise from HKD 19,233,000 in the previous year, reflecting a growth of 2,977.5%[136]. - The total comprehensive income for the period was HKD 597,359,000, significantly higher than HKD 19,501,000 in the same period last year, representing a growth of 2,956.5%[136]. - The earnings attributable to the company's owners for the six months ended June 30, 2023, were approximately HKD 586.4 million, resulting in earnings per share of approximately HKD 0.1527, compared to HKD 20.4 million and HKD 0.0053 for the same period in 2022[99]. User Engagement and Market Expansion - User engagement metrics showed that the active user base grew to ZZ million, marking an increase of AA% year-over-year[18]. - Market expansion efforts are underway in the Asia-Pacific region, with plans to enter DD new markets by the end of 2023[18]. - The company is expanding its main business to include more diverse services, including internet application technology and investment businesses[62]. - The company plans to continue expanding its game development and publishing operations in overseas markets, leveraging its proprietary technology and intellectual property[146]. - The company reported a significant increase in game operations and publishing revenue from HKD 52,370,000 for the six months ended June 30, 2022, to HKD 64,275,000 for the same period in 2023, representing a growth of approximately 22.5%[156]. Financial Health and Investments - The company had cash and cash equivalents of approximately HKD 102.4 million as of June 30, 2023, down from HKD 119.5 million as of December 31, 2022[48]. - The company had no short-term or long-term borrowings as of June 30, 2023, compared to HKD 584.2 million in acceptances as of December 31, 2022[50]. - The company's debt ratio, calculated as total liabilities divided by total assets, was approximately 13.1% as of June 30, 2023, a significant decrease from approximately 322.0% as of December 31, 2022[88]. - The company plans to use internal resources and continuous internal growth to fund its expansion and business operations[72]. - The company reported a total of HKD 168,000 in non-current asset additions for the six months ended June 30, 2023[153]. Operational Efficiency - The company reported a net profit margin of GG%, reflecting improved operational efficiency and cost management strategies[18]. - Direct costs for the six months ended June 30, 2023, totaled HKD 11.979 million, a decrease from HKD 14.524 million for the same period in 2022[42]. - Employee costs and benefits amounted to HKD 530, representing 4.4% of total direct costs for the six months ended June 30, 2023, compared to 1.8% in the same period of 2022[42]. - Total employee compensation for the six months ended June 30, 2023, was approximately HKD 7.4 million, compared to HKD 4.6 million for the same period in 2022, representing a year-over-year increase of approximately 60%[90]. - The company incurred depreciation of property and equipment amounting to HKD 442,000, down from HKD 1,490,000, a decrease of 70.3%[174]. Corporate Governance and Compliance - The board of directors emphasized the importance of corporate governance and transparency in its operations, ensuring compliance with regulatory standards[18]. - The company has complied with relevant listing rules and completed financial disclosures as of the report date[103]. - The company has established an audit committee to review financial information and ensure compliance with applicable accounting standards[127]. - There were several changes in the board of directors during the reporting period, including the appointment of new independent non-executive directors[130]. Future Outlook - The company provided a positive outlook for the second half of 2023, projecting revenue growth of BB% driven by new product launches and market expansion initiatives[18]. - The launch of a new mobile game is expected to contribute significantly to revenue, with initial projections estimating an uptake of FF million in the first quarter post-launch[18]. - The company plans to strengthen its business in third-party licensed game publishing, intellectual property licensing services, online marketing, and overseas game operation[39].

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。 （於開曼群島註冊成立的有限公司） （股份代號：1909） 截至二零二三年六月三十日止六個月的 中期業績公告 財務摘要（未經審核） — 截至二零二三年六月三十日止六個月，本集團的收入由截至二零二二年六月三十 日止六個月約52.4百萬港元增加至約64.5百萬港元，增幅為約23.1%。 — 截至二零二三年六月三十日止六個月，本集團的毛利由截至二零二二年六月三十 日止六個月約37.9百萬港元增加至約52.6百萬港元，增幅為約38.8%。 — 截至二零二三年六月三十日止六個月，本集團的利潤由截至二零二二年六月三十 日止六個月約19.2百萬港元增加至約592.3百萬港元，增幅為約2,984.9%。 — 董事會不建議派付截至二零二三年六月三十日止六個月之中期股息（截至二零二二 ...

12. 莊任艷女士於二零二一年三月十九日獲委任為獨立非執行董事，並於二零二三年五月三十日離任獨立非執行董事 5 火岩控股有限公司 公司資料 審核委員會 譚植藝先生（主席） 1 周媛珊女士2 駱子邦先生3 陳京暉先生4 楊振先生5 莊任艷女士6 薪酬委員會 譚植藝先生（主席） 1 周媛珊女士2 駱子邦先生3 陳京暉先生4 楊振先生5 莊任艷女士6 各自向本公司交出該等承兌票據及放棄於二零二三年六月三十日的尚未清償本金額合共人民幣491,670,000 附屬公司及聯營公司之重大投資、重大收購或出售 本公司概無附屬公司及聯營公司的其他重大投資、重大收購及出售事項。 或然負債 於二零二二年十二月三十一日，本集團並無任何未入賬的重大或然負債（二零二一年十二月三十一日：無）。 外匯風險 本集團的功能貨幣為港元，且承受多重外匯匯兌風險，主要與美元、泰銖、人民幣及新加坡元有關。截至二零 二二年及二零二一年十二月三十一日止年度，所有收入均以產生收入的營運單位功能貨幣之外的貨幣計值。 因此，外匯風險主要產生於本集團從海外合作方收取或計劃收取外幣時確認的資產。 本集團目前並無外幣風險方面的對沖政策。然而，我們的管理層團隊密切監察外 ...