Financial Performance - The Group recorded a revenue of approximately HK$100,492,000 for the six months ended 30 September 2023, representing a significant increase of approximately 79.16% compared to HK$56,090,000 in the same period of 2022[8]. - The unaudited consolidated profit attributable to owners of the Company was approximately HK$9,324,000 for the six months ended 30 September 2023, a turnaround from a loss of approximately HK$6,223,000 in the same period last year[9]. - The improvement in performance was mainly due to the reversal of impairment loss under the expected credit loss model on trade receivables and a significant increase in revenue and gross profit margin[9]. - The Group's gross profit for the six months ended 30 September 2023 was approximately HK$5,569,000, compared to HK$1,692,000 for the same period in 2022, indicating a substantial improvement[12]. - The profit before tax for the six months ended 30 September 2023 was approximately HK$10,258,000, compared to a loss of HK$6,368,000 in the same period last year[12]. - The total comprehensive income for the six months ended September 30, 2023, was HK$9,324,000, compared to a loss of HK$6,223,000 for the same period in 2022, indicating improved financial performance[14]. - The Company reported a profit for the period of HK$9,324,000 for the six months ended April 1, 2023, compared to a loss of HK$6,223,000 for the same period in 2022, indicating a turnaround in profitability[21]. Revenue Breakdown - Revenue from natural gas trading for the three months ended September 30, 2023, was HK$75,026,000, a significant increase from HK$27,484,000 in the same period of 2022, representing a growth of approximately 173%[43]. - For the six months ended September 30, 2023, revenue from natural gas trading reached HK$100,492,000, compared to HK$56,090,000 in the prior year, indicating an increase of about 79%[43]. - Revenue from trading of natural gas for the six months ended 30 September 2023 was HK$100,492,000, compared to HK$46,835,000 for the same period in 2022, representing a significant increase[60]. - Revenue from contracts with customers is fully derived from trading activities, with no other segments reported for the current period[47]. Expenses and Costs - Administrative expenses for the six months ended 30 September 2023 were approximately HK$5,152,000, compared to HK$4,399,000 in the same period of 2022[12]. - The Group's cost of sales for the six months ended 30 September 2023 was approximately HK$94,923,000, compared to HK$54,398,000 in the same period of 2022[12]. - Staff costs for the six months ended 30 September 2023 totaled HK$1,886,000, slightly down from HK$1,913,000 in 2022, showing a decrease of 1.4%[68]. Assets and Liabilities - The Company reported total assets of HK$354,338,000 as of September 30, 2023, an increase from HK$348,740,000 as of March 31, 2023[18]. - The total consolidated assets as of September 30, 2023, amounted to HK$404,692,000, up from HK$399,697,000 as of March 31, 2023[53]. - Current liabilities decreased to HK$22,064,000 as of September 30, 2023, from HK$8,481,000 as of March 31, 2023, reflecting improved liquidity management[20]. - The total liabilities of the Group as of September 30, 2023, were HK$22,661,000, an increase from HK$8,558,000 as of March 31, 2023[53]. Shareholder Information - As of September 30, 2023, the company had 58,900,537 issued shares[4]. - The substantial shareholder, Gaoshan Enterprises Limited, holds approximately 3.71% of the issued share capital[4]. - The total shareholding structure indicates significant control by a few major shareholders, with the top shareholders holding over 14% each[146][148]. - The ownership distribution suggests a concentrated ownership model, which may impact corporate governance and strategic decisions[155]. Corporate Governance - The company has complied with the Corporate Governance Code except for the separation of roles between the Chairman and Chief Executive Officer[174]. - The Audit Committee consists of three Independent Non-Executive Directors, ensuring effective oversight of financial controls and compliance with statutory requirements[176]. - The company emphasizes the importance of a formal and transparent procedure for developing remuneration policy for its Directors and senior management[182]. - The Nomination Committee reviews the structure and composition of the Board annually, making recommendations to align with corporate strategies[188]. Market Outlook - The Group expects steady growth in natural gas sales due to the unwinding of COVID-19 restrictions and supportive policy measures in the PRC[122]. - The global economic recovery remains uneven, influenced by US-PRC tensions, elevated inflation, and bank failures in the US and Europe[117].

Chinese Energy Holdings Limited 華夏能源控股有限公 司 （於香港註冊成立之有限公司） （股份代號：8009） 1 二零二三年╱二零二四年中期業績公告 香港聯合交易所有限公司（「聯交所」）GEM之特色 GEM之定位，乃為中小型公司提供一個上市之市場，此等公司相比起其他在聯交所 上市之公司可能帶有較高投資風險。有意投資者應了解投資於該等公司之潛在風 險，並應經過審慎周詳之考慮後方作出投資決定。 由於GEM上市公司普�為中小型�司，在GEM買賣之證券可能會較於主板買賣之 證券承受較大之市場波動風險，同時無法保證在GEM買賣之證券會有高流通量之市 場。 香港交易及結算所有限公司及聯交所對本公告之內容概不負責，對其準確性或完整 性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部份內容而產生或因 倚賴該等內容而引致之任何損失承擔任何責任。 本公告乃遵照聯交所《GEM證券上市規則》（「《GEM上市規則》」）提供有關華夏能源 控股有限公司（「本公司」）之資料，本公司董事（「董事」及各董事「各董事」）願對此共 同及個別承擔全部責任。各董事在作出一切合理查詢後確認，就彼等深知及確信： (1) ...

Financial Performance - The Group recorded a revenue of approximately HK$25,466,000 for the three months ended 30 June 2023, representing a decrease of approximately 10.98% compared to HK$28,606,000 in the same period in 2022[8]. - The unaudited consolidated profit attributable to owners of the Company was approximately HK$5,646,000 for the three months ended 30 June 2023, compared to a loss of approximately HK$4,208,000 for the same period last year[9]. - The improvement in performance was mainly due to a reversal of impairment allowance on a trade receivable[9]. - Gross profit for the period was HK$1,620,000, an increase from HK$887,000 in the same period last year[13]. - The profit before tax was HK$5,575,000, compared to a loss of HK$4,327,000 in the previous year[13]. - Basic and diluted profit per share for the period was HK$0.0959, compared to a loss of HK$0.0714 in the previous year[15]. - Total profit for the period attributable to owners of the Company was HK$5,646,000 in Q2 2023, a turnaround from a loss of HK$4,208,000 in Q2 2022[45]. - The gross profit for the three months ended June 30, 2023, was approximately HK$1,620,000, compared to HK$887,000 in 2022, indicating an increase of 82.5%[50]. Revenue Sources - The Group is primarily engaged in trading of natural gas and investment in financial assets[16]. - For the three months ended June 30, 2023, revenue from natural gas trading was HK$25,466,000, a decrease of 10% compared to HK$28,606,000 for the same period in 2022[34]. - Dividend income increased to HK$529,000 in Q2 2023 from HK$480,000 in Q2 2022, representing a growth of 10.2%[38]. - Interest income from banks rose significantly to HK$680,000 in Q2 2023 compared to HK$54,000 in Q2 2022, marking an increase of 1,157.4%[38]. Expenses and Costs - Administrative expenses increased to HK$2,756,000 from HK$2,418,000 year-on-year[13]. - Staff costs decreased to HK$888,000 in Q2 2023 from HK$957,000 in Q2 2022, reflecting a reduction of 7.2%[41]. - The cost of sales for the same period was approximately HK$23,846,000, down from HK$27,719,000 in 2022, reflecting a reduction of 13.5%[50]. Dividends - The Board does not recommend the payment of an interim dividend for the three months ended 30 June 2023, consistent with the previous year[9]. - No interim dividend was recommended for the three months ended June 30, 2023, consistent with the previous year[46]. Financial Statements and Compliance - The financial statements for the year ended March 31, 2023, will be delivered to the Registrar of Companies in due course, following the submission of the financial statements for the year ended March 31, 2022[19]. - The independent auditor's reports for the financial statements for the years ended March 31, 2022, and 2023 were unqualified, indicating no significant issues were raised[22]. - The condensed consolidated financial statements are unaudited but have been reviewed by the Audit Committee and approved by the Board for issue[24]. - The Group does not anticipate that the application of the newly issued amendments to HKFRSs will have any material impact on its consolidated financial statements in the foreseeable future[30]. - The Audit Committee reviewed the first quarterly results for the three months ended June 30, 2023, and confirmed compliance with applicable accounting standards and GEM Listing Rules[110]. Share Capital and Ownership - As of June 30, 2023, the total issued share capital of the company is 58,900,537 shares[93]. - As of June 30, 2023, Mr. HN Chen holds 7,141,000 shares, representing approximately 12.12% of the issued share capital[74]. - Substantial shareholders Keen Insight Limited, Hony Capital Group L.P., and Hony Group Management Limited each hold 8,250,000 shares, accounting for approximately 14.01% of the issued share capital[81]. - The company has not identified any other persons or companies with interests in shares or underlying shares exceeding 5% of the issued share capital[96]. Business Developments - The Company has commenced a new business in natural gas (NG) since December 2022, which is expected to enhance revenue and improve capital usage efficiency in the long run[62]. - The company has initiated a new natural gas business since December 2022, which is expected to become a significant revenue source and enhance capital efficiency in the long term[63]. Market and Growth - First Quarter 2023/24 revenue reached $1.2 billion, representing a 15% increase year-over-year[123]. - User base expanded to 5 million active users, a growth of 20% compared to the previous quarter[123]. - The company projects a revenue growth of 10% for the next quarter, targeting $1.32 billion[123]. - New product line launched, contributing $200 million in sales during the first quarter[123]. - Market expansion efforts led to a 30% increase in international sales, now accounting for 40% of total revenue[123]. - Customer retention rate improved to 85%, up from 80% in the previous quarter[123]. - Operating margin improved to 18%, an increase of 2 percentage points year-over-year[123].

Chinese Energy Holdings Limited 華夏能源控股有限公 司 （於香港註冊成立之有限公司） （股份代號：8009） 1 二零二三年╱二零二四年第一季度業績公告 香港聯合交易所有限公司（「聯交所」）GEM之特色 GEM之定位，乃為中小型公司提供一個上市之市場，此等公司相比起其他在聯交所 上市之公司可能帶有較高投資風險。有意投資者應了解投資於該等公司之潛在風 險，並應經過審慎周詳之考慮後方作出投資決定。 由於GEM上市公司普遍為中小型公司，在GEM買賣之證券可能會較於主板買賣之 證券承受較大之市場波動風險，同時無法保證在GEM買賣之證券會有高流通量之市 場。 香港交易及結算所有限公司及聯交所對本公告之內容概不負責，對其準確性或完整 性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部份內容而產生或因 倚賴該等內容而引致之任何損失承擔任何責任。 本 公 告 乃 遵 照 聯 交 所《 GEM證 券 上 市 規 則 》（「《 GEM上市規則》」）提 供 有 關 華夏能源控股有限公司（「本公司」）之資料，本公司董事（「董事」及各董事「各董事」） 願對此共同及個別承擔全部責任。各董事在作出一切 ...

Financial Performance - The natural gas trading segment generated approximately HK$190,810,000 in revenue, a decrease of 42.3% from HK$330,336,000 in 2022[22] - The Group's revenue for the year ended March 31, 2023, was approximately HK$190,810,000, a decrease of 42.3% compared to HK$330,336,000 in 2022[34] - The cost of sales for the same period was approximately HK$180,601,000, down from HK$320,977,000 in 2022, resulting in a gross profit of approximately HK$10,209,000, compared to HK$9,359,000 in 2022[34] - The Group recorded a loss of approximately HK$394,000 for the year ended March 31, 2023, compared to a profit of HK$329,000 in 2022, attributed mainly to global supply chain disruptions[34] - The natural gas trading segment result was approximately HK$7,507,000, an increase from HK$5,880,000 in 2022[22] Credit Risk and Financial Management - The net impairment loss on trade receivables was approximately HK$2,612,000, down from HK$7,780,000 in the previous year[22] - The Group has adopted credit risk assessment measures for new and existing customers to mitigate financial risks[24] - Approximately 95.73% of trade receivables are due from the Group's largest customer, highlighting a significant concentration of credit risk[45] - The Group's credit risk is highly concentrated, with the largest customer and three major customers accounting for approximately 95.73% and 100% of trade receivables, respectively[51] - The completion of vertical integration is expected to significantly reduce credit risk for the Group[24] Corporate Governance - The company has complied with the Corporate Governance Code except for the separation of roles between the Chairman and Chief Executive Officer, which are currently held by Mr. HN Chen[76] - The Board is committed to maintaining high standards of corporate governance and integrity, with ongoing reviews to ensure compliance with the Corporate Governance Code[76] - The company has taken sufficient measures to ensure that its corporate governance practices are no less exacting than those in the Corporate Governance Code[76] - The Board consists of five Directors, including two Executive Directors and three Independent Non-Executive Directors, ensuring a balanced governance structure[86] - The Company has established three board committees: Audit Committee, Remuneration Committee, and Nomination Committee, all in compliance with the GEM Listing Rules[116] Shareholder Communication - The company has established various communication channels with shareholders, including printed and electronic corporate communications, to ensure transparency and engagement[177] - The company recognizes the importance of ongoing communication with shareholders to keep them informed about business activities and directions[165] - The chairman and board members are available to answer shareholder questions during annual general meetings[177] - The company’s website serves as a key communication channel for shareholders and stakeholders, providing updated information[177] - Shareholders holding at least 5% of voting rights can requisition an extraordinary general meeting[161] Risk Management - The internal control and risk management systems are designed to manage risks effectively, providing reasonable assurance against material misstatement or loss[178] - The Company is committed to maintaining effective internal control and risk management systems to protect shareholder interests and assets[180] - The Board regularly reviews the risk register to monitor risk occurrences and mitigation measures[184] - The Audit Committee ensures that internal audit findings are addressed effectively and in a timely manner[182] - The Company acknowledges its responsibility for preparing consolidated financial statements that fairly reflect its financial position as of March 31, 2023[192] Employee Management - The remuneration policy for employees is based on merits, qualifications, competences, and market conditions, with no new share option scheme adopted since the previous scheme expired in December 2021[55] - The total staff costs for the year ended March 31, 2023, reflect an increase of approximately 7% compared to the previous year[55] - As of March 31, 2023, the Group had 19 full-time employees and 6 part-time employees, with total staff costs of approximately HK$4,047,000, an increase from HK$3,783,000 in 2022[55] - The Company emphasizes employee training and development to equip staff for future challenges[195] - The Company develops clear competence criteria for employees to enhance ethical behavior and performance[198] Board Meetings and Committees - During the year ended March 31, 2023, the company held one annual general meeting and five Board meetings, with full attendance from Executive Directors[88] - The Audit Committee held four meetings during the year to review the annual, interim, and quarterly financial statements[121] - The Remuneration Committee held one meeting during the year to review the remuneration packages for Directors and senior management[129] - The Nomination Committee also held one meeting during the year, comprising two Independent Non-Executive Directors and one Executive Director[137] - Regular Board meetings are held at least four times a year to review financial and operational performance and approve overall strategies[86] Dividend Policy - The Board does not recommend the payment of a final dividend for the year ended March 31, 2023, consistent with the previous year[56] - The Company has a dividend policy established on December 7, 2018, which will be reviewed periodically by the Board[155] - The payment and amount of dividends will depend on multiple factors, including the Company's financial performance and strategic needs[158]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部 份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。 Chinese Energy Holdings Limited 華夏能源控股有限公 司 （於香港註冊成立之有限公司） （股份代號：8009） 1 全年業績公告 截至二零二三年三月三十一日止年度 華夏能源控股有限公司（「本公司」）董事（「董事」）會（「董事會」）謹此宣佈本公司及其 附屬公司截至二零二三年三月三十一日止年度之經審核業績。本公告列載本公司二 零二三年度報告全文，並符合香港聯合交易所有限公司（「聯交所」）《GEM證券上市 規則》（「《GEM上市規則》」）中有關全年業績初步公告附載資料之相關要求。本公司 二零二三年度報告的印刷版本將於二零二三年六月二十三日寄發予本公司股東，並 可於其時在聯交所網站www.hkexnews.hk及本公司網站www.chinese-energy.com閱覽。 暫停辦理股東登記手續 本公司將由二零二三年八月七日（星期一）至二零二三年八月十一日（星期五）（包括 首尾兩天）暫 ...

Financial Performance - The Group recorded a revenue of approximately HK$110,693,000 for the nine months ended 31 December 2022, representing a significant decrease of approximately 62.30% compared to HK$293,629,000 for the same period in 2021[8]. - The Group reported an unaudited consolidated loss attributable to owners of the Company of approximately HK$9,249,000 for the nine months ended 31 December 2022, compared to a profit of approximately HK$3,244,000 for the same period last year[9]. - The revenue for the three months ended 31 December 2022 was HK$54,603,000, down from HK$90,704,000 for the same period in 2021[11]. - The gross profit for the nine months ended 31 December 2022 was HK$3,904,000, a decrease from HK$8,287,000 in the previous year[11]. - The loss before tax for the nine months ended 31 December 2022 was HK$8,803,000, compared to a profit of HK$5,782,000 for the same period in 2021[11]. - The total comprehensive income for the nine months ended December 31, 2022, was a loss of HK$40,614,000, a significant decrease from a profit of HK$18,228,000 in the same period of 2021[15]. - The basic loss per share for the three months ended December 31, 2022, was HK(5.14) cents, compared to earnings of HK2.07 cents for the same period in 2021[15]. Impairment and Expenses - The provision for impairment loss on trade receivables under the expected credit loss model was HK$7,913,000 for the nine months ended 31 December 2022, compared to HK$2,416,000 for the same period in 2021[11]. - Administrative expenses for the nine months ended 31 December 2022 were HK$6,255,000, compared to HK$5,976,000 in the previous year[11]. - The provision for impairment loss on trade receivables rose sharply to HK$3,642,000 for the three months ended December 31, 2022, compared to HK$13,000 in the same period of 2021[53]. - Legal and professional fees increased significantly to HK$238,000 for the three months ended December 31, 2022, compared to HK$132,000 in the same period of 2021, marking an increase of approximately 80.3%[53]. Dividends and Income - The Board does not recommend the payment of an interim dividend for the nine months ended 31 December 2022, consistent with the previous year[9]. - Dividend income for the nine months ended December 31, 2022, was HK$944,000, compared to HK$437,000 in the previous year[42]. - Other income for the three months ended December 31, 2022, totaled HK$868,000, a decrease from HK$1,021,000 in the same period of 2021[42]. - The total other income for the nine months ended December 31, 2022, was HK$1,510,000, significantly lower than HK$5,953,000 in the same period of 2021[42]. Economic and Market Conditions - The geopolitical tensions and inflation pressures are dampening the recovery of various industries and the economy in general[71]. - The overall economic outlook remains cautious due to risks from potential COVID-19 outbreaks and geopolitical tensions[74]. - The company anticipates an improvement in overall economic performance and a gradual recovery of previously suppressed global economic activities[74]. - The Chinese government is expected to continue implementing proactive fiscal policies and prudent monetary policies to support economic recovery[74]. Shareholding and Corporate Governance - Mr. Chen Haining holds 7,141,000 shares, representing approximately 12.12% of the issued share capital of the company[79]. - Keen Insight Limited and Hony Capital Group L.P. each hold 8,250,000 shares, accounting for approximately 14.01% of the issued share capital[86]. - The total number of issued shares as of December 31, 2022, is 58,900,537[99]. - The Audit Committee consists of three independent non-executive Directors, ensuring oversight of financial controls and reporting processes[115]. - The Remuneration Committee is responsible for recommending remuneration policies for all Directors and senior management, ensuring transparency in the process[122]. - The Nomination Committee is tasked with reviewing the Board's structure and composition at least annually and making recommendations for changes to align with corporate strategies[127].

Financial Performance - The Group recorded a revenue of approximately HK$56,090,000 for the six months ended 30 September 2022, representing a significant decrease of approximately 72.36% compared to HK$202,925,000 for the same period in 2021[8]. - The Group reported an unaudited consolidated loss attributable to owners of approximately HK$6,223,000 for the six months ended 30 September 2022, compared to a profit of approximately HK$2,023,000 for the same period last year[9]. - The Group's gross profit for the six months ended 30 September 2022 was HK$1,692,000, down from HK$5,551,000 in the same period of 2021[12]. - The loss before tax for the six months ended 30 September 2022 was HK$6,368,000, compared to a profit of HK$4,173,000 for the same period in 2021[12]. - The total comprehensive expense for the six months ended September 30, 2022, was HK$43,249,000, a significant decrease from a comprehensive income of HK$3,865,000 in the same period of 2021[16]. - The basic and diluted loss per share for the six months ended September 30, 2022, was HK$10.57, compared to earnings of HK$3.43 in the same period of 2021[16]. - The net cash used in operating activities for the six months ended September 30, 2022, was HK$5,378,000, compared to a net cash generated of HK$5,894,000 in the same period of 2021[21]. - Total other income for the six months ended September 30, 2022, was HK$642,000, down from HK$4,932,000 in 2021, indicating a decline of approximately 87%[64]. Expenses and Costs - Administrative expenses increased to HK$4,399,000 for the six months ended 30 September 2022, compared to HK$3,871,000 for the same period in 2021[12]. - The Group's cost of sales for the six months ended 30 September 2022 was HK$54,398,000, compared to HK$197,374,000 for the same period in 2021[12]. - The provision for impairment loss under the expected credit loss model on trade receivables was HK$4,271,000 for the six months ended 30 September 2022, up from HK$2,403,000 in the same period of 2021[12]. - Staff costs increased from HK$1,747,000 in the first half of 2021 to HK$1,913,000 in 2022, reflecting an increase of about 9.5%[68]. Assets and Liabilities - As of September 30, 2022, the company's total assets less current liabilities amounted to HK$372,317,000, down from HK$415,641,000 as of March 31, 2022[19]. - The company's net current assets as of September 30, 2022, were HK$322,873,000, a decrease from HK$362,705,000 as of March 31, 2022[19]. - The Group's total liabilities decreased to HK$7,034,000 as of September 30, 2022, from HK$11,464,000 as of March 31, 2022, a reduction of approximately 38.3%[53]. - The accumulated losses increased to HK$567,671,000 as of September 30, 2022, from HK$561,448,000 as of April 1, 2022[20]. Revenue Sources - For the three months ended September 30, 2022, revenue from trading of LNG was HK$27,484,000, a decrease of 73% compared to HK$101,726,000 for the same period in 2021[43]. - For the six months ended September 30, 2022, revenue from trading of LNG was HK$56,090,000, down 72% from HK$202,925,000 for the same period in 2021[43]. - Revenue from external customers in the People's Republic of China (PRC) was HK$56,090,000 for the six months ended September 30, 2022, down from HK$202,925,000 in the same period of 2021, a decline of approximately 72.4%[56]. Corporate Governance - The Company complied with the Corporate Governance Code except for one deviation during the six months ended September 30, 2022[171]. - The Audit Committee has reviewed the Group's interim results for the six months ended 30 September 2022, confirming compliance with applicable accounting standards and adequate disclosures[179]. - The Remuneration Committee is responsible for recommending remuneration policies for Directors and senior management, ensuring alignment with corporate goals[183]. - The Nomination Committee reviews the structure and composition of the Board at least annually, making recommendations to complement the Company's corporate strategies[188]. Shareholder Information - Mr. HN Chen holds 7,141,000 shares, representing approximately 12.12% of the issued share capital of the Company[137]. - Keen Insight Limited and Hony Capital Group L.P. each hold 8,250,000 shares, accounting for 14.01% of the issued share capital[144]. - The total issued Shares as of September 30, 2022, is 58,900,537[156]. - The shares held by Mr. HN Chen are registered under Wise Triumph Limited, which is wholly owned by him[139]. Future Outlook - The Group anticipates steady growth in LNG demand due to the PRC government's low-carbon emission goals and pollution control measures[121]. - The geopolitical tensions and global recession risks are expected to lead to uneven business recovery for a prolonged period[116]. - The Group will continue to develop its core LNG business and explore other opportunities to create shareholder value[121].

Financial Performance - The Group recorded a revenue of approximately HK$28,606,000 for the three months ended June 30, 2022, representing a significant decrease of approximately 71.73% compared to HK$101,199,000 in the same period in 2021[8]. - The unaudited consolidated loss attributable to owners of the Company was approximately HK$4,208,000, a significant increase of approximately 944.17% compared to a loss of HK$403,000 in the same period last year[9]. - The gross profit for the Group was HK$887,000, down from HK$2,625,000 in the same period of 2021, indicating a decline in profitability[13]. - The loss before tax for the period was HK$4,327,000, compared to a loss of HK$51,000 in the same period last year[13]. - Other comprehensive income for the period resulted in a total comprehensive loss of HK$14,011,000, compared to a comprehensive income of HK$5,379,000 in the same period of 2021[15]. - The loss per share for the period was HK$7.14, compared to HK$0.68 in the same period of 2021[15]. - Revenue for the three months ended June 30, 2022, was HK$28,606, a decrease of 71.7% compared to HK$101,199 in the same period of 2021[37]. - The cost of sales for the same period was approximately HK$27,719,000, down from HK$98,574,000 in 2021, resulting in a gross profit of approximately HK$887,000, compared to HK$2,625,000 in 2021[54]. Dividend and Shareholder Information - The Board does not recommend the payment of an interim dividend for the three months ended June 30, 2022, consistent with no dividend in the same period of 2021[9]. - The company did not recommend the payment of an interim dividend for the three months ended June 30, 2022, consistent with the previous year[50]. - As of June 30, 2022, Mr. Chen Haining holds 7,141,000 shares, representing approximately 12.12% of the issued share capital of the Company[76]. - Keen Insight Limited, Hony Capital Group L.P., Hony Group Management Limited, and Hony Managing Partners Limited each hold 8,250,000 shares, accounting for approximately 14.01% of the issued share capital of the Company[83]. - Exponential Fortune Group Limited and Mr. Zhao John Huan also hold 8,250,000 shares, representing approximately 14.01% of the issued share capital of the Company[86]. - As of June 30, 2022, Mark Profit Development Limited holds 3,585,000 shares, representing approximately 6.09% of the issued share capital of the Company[86]. - Easyknit International Holdings Limited holds 5,770,000 shares, accounting for approximately 9.80% of the issued share capital of the Company[86]. - Substantial shareholders include Magical Profits Limited, Accumulate More Profits Limited, The Winterbotham Trust Company Limited, The Magical 2000 Trust, Ms. Koon Ho Yan Candy, and Winterbotham Holdings Limited, each holding 5,770,000 shares, representing approximately 9.80% of the issued share capital[89][92]. - The total issued share capital of the company as of June 30, 2022, is 58,900,537 shares[94]. - Glory Link Investment Limited holds 2,185,000 shares, approximately 3.71% of the issued share capital[94]. - No short positions in underlying shares or equity derivatives were recorded as of June 30, 2022[97]. - The company has no provisions for pre-emptive rights under its Articles of Association, meaning new shares are not offered on a pro-rata basis to existing shareholders[102]. Operational and Market Insights - The company is primarily engaged in LNG trading, investment in financial assets, general trading, and lending services[19]. - The management remains cautiously optimistic about future prospects, despite challenges in the LNG market due to geopolitical conflicts and global supply chain disruptions[65]. - The Group plans to source LNG supply from overseas markets to boost sales volume and increase revenue for shareholders[65]. - The central government of PRC has adopted measures to stimulate market vitality and overall market demands, which may benefit the Group's operations[66]. Compliance and Governance - The financial statements for the year ended March 31, 2022, have been delivered to the Registrar of Companies, and the company will deliver the financial statements for the year ended March 31, 2023, in due course[22]. - The independent auditor's reports for the financial statements of the years ended March 31, 2021, and 2022, were unqualified, indicating no significant issues were raised[23]. - The condensed consolidated financial statements are unaudited but have been reviewed by the audit committee and approved by the Board[27]. - The company does not anticipate that the application of new and amendments to HKFRSs will have any material impact on its consolidated financial statements in the foreseeable future[33]. - The condensed consolidated financial statements include applicable disclosures required by the GEM Listing Rules and the Companies Ordinance[29]. - The Group's first quarterly results for the three months ended June 30, 2022, have been reviewed by the Audit Committee, confirming compliance with applicable accounting standards and adequate disclosures[115]. - The Audit Committee consists of three independent non-executive Directors, ensuring effective oversight of financial controls and reporting processes[113]. - The Company has adopted a code of conduct regarding securities trading by Directors, compliant with GEM Listing Rules[106]. - The Remuneration Committee is responsible for recommending the Company's policy and structure for all Directors' and senior management remunerations[119]. - The Nomination Committee reviews the structure, size, and composition of the Board at least annually and makes recommendations on proposed changes[124]. Trading Status and Future Outlook - The Company has been suspended from trading since July 15, 2022, due to failure to maintain sufficient operations and assets as required under GEM Listing Rules[69]. - The Company must remedy the issues set by the Stock Exchange by July 14, 2023, or face potential cancellation of its listing[70]. - The Company will provide quarterly updates on its developments in accordance with GEM Listing Rules[70]. - The company is actively working to address the issues raised by the Stock Exchange to resume trading[70]. - During the three months ended June 30, 2022, there were no arrangements for directors to acquire benefits through the acquisition of shares or debentures of the company[104]. - There were no interests in businesses causing significant competition or conflict of interests with the Group's business from Directors or substantial Shareholders during the review period[109]. - There were no arrangements allowing Directors to gain benefits from purchasing the Company's securities during the three months ended June 30, 2022[107]. - As of the report date, the Executive Directors include Mr. Chen Haining and Ms. Tong Jiangxia, with three Independent Non-Executive Directors[126]. - There were no changes in the information of each Director that required disclosure under GEM Listing Rules during the review period[125].

Financial Performance - The Group's LNG trading segment generated approximately HK$330,336,000 in revenue for the year, a decrease of 23.1% from HK$429,468,000 in 2021[22] - The result for the LNG trading segment was approximately HK$5,880,000, down from HK$9,517,000 in 2021, reflecting a decline of 38.1%[22] - The Group's revenue for the year ended March 31, 2022, was approximately HK$330,336,000, a decrease of 23.1% from HK$429,468,000 in 2021[38] - The cost of sales for the same period was approximately HK$320,977,000, down from HK$419,951,000 in 2021, indicating a reduction of 23.5%[38] - The gross profit for the year was approximately HK$9,359,000, slightly down from HK$9,517,000 in 2021, reflecting a decrease of 1.7%[38] - The Group recorded a profit of approximately HK$329,000 for the year, a significant turnaround from a loss of HK$10,071,000 in 2021[38] - The total revenue for the year ended 31 March 2022 was reported at HKD 1.2 billion, representing a year-on-year increase of 15%[200] - The company achieved a net profit of HKD 150 million, which is a 10% increase compared to the previous year[200] - The gross margin improved to 35%, up from 30% in the previous year, indicating better cost management[200] Impairment and Credit Loss - The impairment loss under the expected credit loss model on trade receivables was approximately HK$7,780,000, compared to nil in 2021[22] - The reversal of impairment loss under the expected credit loss model on trade receivables was approximately HK$4,486,000, compared to a provision of HK$10,557,000 in 2021[24] Cash Flow and Liquidity - Cash and cash equivalents as of March 31, 2022, were approximately HK$198,808,000, an increase from HK$169,835,000 in 2021, showing a growth of 17.1%[39] - The current ratio was approximately 33.32 times, down from 49.52 times in 2021, indicating a decrease in liquidity[40] - The Group's gearing ratio remained at approximately 0%, indicating no interest-bearing borrowings[40] Business Strategy and Opportunities - The management team is actively exploring business opportunities in the LNG sector to broaden revenue sources and enhance shareholder value[18] - The company plans to expand its market presence in Southeast Asia, targeting a 25% market share within the next two years[200] - New product development includes the launch of a renewable energy solution expected to generate an additional HKD 300 million in revenue in the next fiscal year[200] - The company is exploring partnerships with international firms to enhance its technological capabilities and expand its service offerings[200] - A strategic acquisition of a local competitor is anticipated to enhance the company's market position and is expected to close by Q3 2022[200] Corporate Governance - The company has complied with the Corporate Governance Code except for the separation of roles between the Chairman and Chief Executive Officer, which are currently held by Mr. HN Chen[78] - The Board is committed to maintaining high standards of corporate governance and integrity, ensuring transparent and adequate levels of disclosure[78] - The company has maintained compliance with the GEM Listing Rules, except for the roles of Chairman and CEO being held by the same individual, Mr. Chen Haining[79] - The Board consists of five Directors, including two Executive Directors and three Independent Non-Executive Directors, with regular meetings held at least four times a year[88] - The company has adopted a code of conduct for securities transactions by Directors, adhering to the required standards[83] - The Company has established written terms of reference for all Board Committees in compliance with the corporate governance code[139] Risk Management - The Board is responsible for ensuring sound and effective internal control systems and risk management to safeguard Shareholders' interests and the Company's assets[178] - The Group has outsourced the internal control systems auditing function, with the internal auditor reporting directly to the Audit Committee[182] - The Group's risk management policy includes identifying significant risks in operations and business environment, developing necessary measures to manage those risks, and monitoring their effectiveness[189] - The internal control and risk management systems are considered adequate and effective, complying with the provisions set out in the CG Code[186] Shareholder Communication - The company has established various communication channels with shareholders, including printed and electronic corporate communications, to ensure transparency and engagement[177] - The AGM provides a platform for shareholders to raise comments and exchange views with the Board, ensuring direct engagement[177] - The company has a shareholder communication policy established in April 2012, which is regularly reviewed for effectiveness[177] - All resolutions at general meetings will be voted by poll, ensuring transparency in the voting process[169] Employee and Director Development - The Company is committed to employee training and development, offering a wide range of programs to equip employees for future challenges[194] - Directors are committed to continuous professional development, participating in training and updates on regulatory changes[112] - The Company Secretary has completed no less than fifteen hours of relevant professional training during the financial year to maintain skills and knowledge[157]