Financial Performance - For the three months ended June 30, 2022, the group's unaudited revenue was approximately HKD 34,429,000, an increase of about 3,751% compared to the same period in 2021[5]. - The group recorded an unaudited consolidated profit attributable to owners of the company from continuing operations of approximately HKD 2,381,000, compared to a loss of approximately HKD 1,977,000 in the same period of 2021[5]. - The earnings per share from continuing operations for the three months ended June 30, 2022, was HKD 0.09, compared to a loss per share of HKD 0.08 in the same period of 2021[10]. - The gross profit for the three months ended June 30, 2022, was HKD 5,477,000, compared to HKD 621,000 in the same period of 2021[8]. - The company's profit attributable to owners for the three months ended June 30, 2022, was approximately HKD 2,381,000, compared to a loss of approximately HKD 1,977,000 in the same period last year[37]. Revenue Breakdown - The dry bulk shipping and agency services generated revenue of HKD 31,100,000, with a net profit of approximately HKD 2,790,000, compared to a net loss of approximately HKD 20,000 in the previous year[33]. - The IP automation and entertainment business reported revenue of approximately HKD 3,330,000, representing an increase of about 274% from approximately HKD 890,000 in the previous year[34]. - The company's revenue for the three months ended June 30, 2022, was approximately HKD 34,429,000, an increase of about 3,751% compared to approximately HKD 894,000 in the same period last year[35]. Expenses and Costs - The operating costs for the three months ended June 30, 2022, were HKD 28,952,000, compared to HKD 273,000 in the same period of 2021[8]. - The administrative and operating expenses for the three months ended June 30, 2022, were HKD 2,306,000, compared to HKD 2,514,000 in the same period of 2021[8]. - Administrative and operating expenses decreased by approximately 8.3% to about HKD 2,306,000 from approximately HKD 2,514,000 in the previous year[35]. - The income tax expense for the three months ended June 30, 2022, was HKD 1,109,000, compared to HKD 52,000 in the previous year[25]. - The financing cost related to lease liabilities was HKD 20,000, down from HKD 32,000 in the previous year[21]. Equity and Dividends - The company did not recommend the payment of dividends for the three months ended June 30, 2022[5]. - The company’s total equity as of June 30, 2022, was HKD 22,960,000, compared to HKD 16,102,000 as of June 30, 2021[12]. - The company did not recommend any dividend payment for the three months ended June 30, 2022, consistent with the previous year[26]. Shareholder Information - As of June 30, 2022, the company’s major shareholders include Ms. He Chaochen with 407,890,000 shares (15.61%) and Ms. Wen Yingyi with 441,900,000 shares (16.91%)[46]. - The company’s major shareholders include Mr. Chen Yufeng with 251,462,500 shares (9.62%) and Mr. Lin Jinhong with 163,900,000 shares (6.27%) as of June 30, 2022[50]. Employee and Operational Insights - As of June 30, 2022, the total employee benefits expenditure was approximately HKD 1,440,000, compared to HKD 1,060,000 for the same period in 2021, reflecting a year-on-year increase of 36%[42]. - The company employed 17 full-time employees and 3 consultants as of June 30, 2022, a slight decrease from 18 full-time employees and 4 part-time employees in the previous year[42]. Future Plans and Strategies - The company plans to launch a comprehensive entertainment park in Westwood in Q3 2022, integrating e-sports, STEAM education, and party elements to enhance the entertainment experience[44]. - The company is focused on expanding its logistics agency services and developing new customer bases geographically following the resumption of logistics services in Q4 2021[44]. - The company has entered into an agreement with a major freight forwarding group in China to purchase cargo from other airlines and shipping lines at Zhongshan Port and Shenzhen Port, expected to generate revenue starting in Q3 2022[44]. Compliance and Governance - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited condensed consolidated financial statements for the first quarter ending June 30, 2022, and found them to comply with applicable accounting standards and regulations[58]. - The company has adopted a code of conduct regarding securities trading by directors, which complies with the GEM Listing Rules[55]. - There were no interests held by directors, management shareholders, or their associates in any business that constitutes or may constitute significant competition with the group during the three months ending June 30, 2022[54]. - The company has adopted a stock option plan to reward eligible employees, including directors, for their contributions to the company[45]. Financial Management - The company has adopted a conservative financial policy, maintaining all bank deposits in HKD to minimize foreign exchange risk[39]. - The company’s liquidity risk is managed through continuous credit assessments of its clients and close monitoring of its liquidity levels by the board[40]. - The company has not pledged any assets as collateral for bank financing as of June 30, 2022, consistent with the previous year[41]. - The company did not purchase, redeem, or sell any of its listed shares during the three months ending June 30, 2022[53].

Financial Performance - The group recorded revenue of approximately HKD 37,770,000 for the logistics services business for the fiscal year ending March 31, 2022, compared to zero in the previous year, marking a significant recovery [23]. - The IP automation and entertainment business generated revenue of approximately HKD 47,940,000 for the fiscal year ending March 31, 2022, a 567.69% increase from approximately HKD 7,180,000 in the previous year [24]. - The group reported a net loss attributable to owners of approximately HKD 4,970,000 for the fiscal year ending March 31, 2022, an improvement from a net loss of approximately HKD 8,150,000 in the previous year [24]. - The logistics services business contributed a profit of approximately HKD 3,200,000, while the marketing consulting services contributed approximately HKD 2,610,000 to the overall results [24]. - Total revenue for the fiscal year increased by approximately 567.69% to about HKD 47,940,000 from approximately HKD 7,180,000 in the previous year [35]. - The group recorded a net loss attributable to owners of approximately HKD 4,970,000 for the fiscal year, a reduction from a net loss of approximately HKD 8,150,000 in the previous year, primarily due to the recovery of logistics services and marketing consulting services [37]. - The company reported a loss before tax of HKD 3,945,000, an improvement from a loss of HKD 7,819,000 in the previous year, reflecting a reduction in losses by 49% [198]. - Total comprehensive loss for the year was HKD 5,603,000, down from HKD 8,119,000 in the previous year, marking a decrease of 31% [198]. - Basic and diluted loss per share from continuing operations was HKD 0.20, compared to HKD 0.32 in the previous year, showing an improvement of 38% [198]. Business Operations - The group temporarily suspended its dry bulk shipping and logistics services due to the uncertainties from the US-China trade war and the COVID-19 pandemic, but has since focused on restoring logistics services [22]. - The group has successfully resumed logistics services by signing marine freight agency contracts, facilitating the transportation of products for individual and corporate clients [22]. - The overall business environment remains challenging due to intense competition and regulatory pressures in the shipping industry [22]. - The group aims to continue expanding its IP automation and entertainment business while recovering logistics services [24]. - The management is focused on expanding the logistics service segment and has reached an agreement with a major freight forwarding group in China to purchase cargo from Zhongshan and Shenzhen ports, expected to generate revenue starting Q2 2022 [52]. - The group plans to launch a comprehensive entertainment park in Westwood in Q2 2022, incorporating e-sports, STEAM education, and party elements to enhance the entertainment experience [52]. - Mobile/pop-up amusement parks will be established in various shopping centers across Hong Kong to drive foot traffic and generate additional revenue [52]. Financial Position - As of March 31, 2022, the group had net current assets of approximately HKD 19,100,000, compared to approximately HKD 13,660,000 in the previous year, with cash and bank balances of approximately HKD 28,430,000 [38]. - The group’s current ratio as of March 31, 2022, was approximately 1.62, down from 1.88 in the previous year [38]. - The group has no significant investments or capital asset plans as of March 31, 2022 [44]. - The group has no mortgaged assets as of March 31, 2022, consistent with the previous year [49]. - As of March 31, 2022, the company's available reserves for cash and/or physical distribution were zero, with a share premium of approximately HKD 297.5 million and accumulated losses of approximately HKD 306.9 million [119]. - The company had no bank financing as of March 31, 2022, and received a total of approximately HKD 1.94 million in interest-free loans from shareholders, which is an increase from approximately HKD 1.02 million in the previous year [124]. - Current assets increased significantly to HKD 49,714 million in 2022, up from HKD 29,093 million in 2021, marking an increase of about 70.9% [200]. - Current liabilities increased to HKD 30,612 million in 2022 from HKD 15,438 million in 2021, representing a growth of approximately 98.3% [200]. - Total equity increased to HKD 20,579 million in 2022, up from HKD 16,102 million in 2021, representing a growth of approximately 27.9% [200]. Governance and Compliance - The board consists of 4 executive directors and 3 independent non-executive directors, with independent directors making up over one-third of the board [58]. - The board held a total of 10 meetings during the fiscal year, with all directors attending every meeting [62]. - The board is responsible for presenting a balanced and comprehensive assessment of the group's performance, condition, and prospects [85]. - The company has adopted a code of conduct for securities trading, ensuring compliance with GEM listing rules, with all directors adhering to these regulations throughout the fiscal year [76]. - The audit committee conducted six meetings in the fiscal year, with all members present at each meeting [94]. - The audit committee's responsibilities included reviewing the financial reporting process, risk management, and internal control systems [94]. - The company has implemented various measures to reduce its carbon footprint, including double-sided printing as the default setting for most network printers [109]. - The company has established a comprehensive policy framework to protect assets from unauthorized use and ensure the reliability of financial information [105]. - The company has adopted an environmental, social, and governance (ESG) strategy and will publish an independent ESG report within three months of the annual report [152]. Shareholder Information - The company confirmed it maintains sufficient public float as required by GEM listing rules as of the report date [150]. - Major shareholders include Mr. Chen Yufeng with 251,462,500 shares (9.62%) and Mr. Lin Jinhong with 163,900,000 shares (6.27%) of ordinary shares as of March 31, 2022 [147]. - The largest customer accounted for 77.1% of sales, while the top five customers represented 99.2% of total sales for the fiscal year [121]. - The largest supplier contributed to 44.0% of purchases, and the top five suppliers accounted for 89.1% of total purchases during the fiscal year [121]. Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 12% [127]. - New product launches are expected to contribute an additional HKD 200 million in revenue, with a focus on expanding the product line in the healthcare sector [128]. - Market expansion plans include entering two new regions in Asia, which are projected to increase market share by 5% [130]. - The company is considering strategic acquisitions to bolster its market position, with potential targets identified in the logistics sector [131]. - A new marketing strategy has been implemented, aiming to increase brand awareness and customer engagement by 30% over the next year [132]. - The board has approved a budget of HKD 100 million for infrastructure improvements to support operational efficiency [133]. - The company has established partnerships with local firms to enhance distribution channels, expected to improve sales by 15% in the upcoming year [134].

Financial Performance - For the nine months ended December 31, 2021, the group's unaudited revenue reached HKD 11,579,000, a decrease of approximately 101.8% compared to the same period in 2020[5] - The company reported a loss attributable to owners of approximately HKD 3,819,000 for the nine months ended December 31, 2021, compared to a loss of HKD 8,246,000 in the same period of 2020[5] - The basic and diluted loss per share for the nine months ended December 31, 2021, was approximately HKD 0.15, compared to HKD 0.28 for the same period in 2020[11] - For the three months ended December 31, 2021, the group recorded revenue of HKD 7,002,000, compared to HKD 1,989,000 for the same period in 2020[7] - The total loss for the three months ended December 31, 2021, was HKD 5,208,000, compared to a loss of HKD 164,000 in the same period of 2020[7] - The company reported a pre-tax loss from continuing operations of HKD 2,797,000 for the nine months ended December 31, 2021, compared to a loss of HKD 7,132,000 in the same period of 2020[7] - The total comprehensive income for the nine months ended December 31, 2021, was a loss of HKD 3,819,000, compared to a loss of HKD 8,246,000 for the same period in 2020, indicating a reduction of 54%[27] Revenue and Business Segments - The revenue from the IP automation and entertainment business for the nine months ended December 31, 2021, was HKD 10,880,000, up from HKD 5,737,000 in the previous year, indicating an increase of 90%[21] - The group recorded revenue of approximately HK$699,000 from dry bulk shipping and logistics agency services during the review period, compared to no revenue in 2020[37] - The IP automation and entertainment business generated revenue of approximately HK$10,880,000, an increase of about 89.6% from HK$5,737,000 in 2020[38] Expenses and Costs - Administrative and operating expenses for the nine months ended December 31, 2021, amounted to HKD 9,582,000, an increase from HKD 8,835,000 in the same period of 2020[7] - The financing costs for the nine months ended December 31, 2021, were HKD 167,000, down from HKD 266,000 in the same period of 2020[7] - The company incurred depreciation expenses of HKD 1,320,000 for the nine months ended December 31, 2021, compared to HKD 1,983,000 for the same period in 2020, a decrease of 33%[27] Shareholder Information - As of December 31, 2021, the company’s directors and key executives held a total of 636,952,500 shares, representing approximately 24.38% of the company's equity[56] - Major shareholders include Refulgent Sunrise Limited with 229,062,500 shares (8.77%) and Mr. Zhao Genlong with 200,000,000 shares (7.65%) as of December 31, 2021[59] - Ms. He Chaozhen holds 407,890,000 shares, accounting for 15.61% of the company, and has an additional controlled entity interest of 229,062,500 shares, representing 8.77%[54] Corporate Governance - The company has adopted a code of conduct for securities trading by directors, which is in line with GEM Listing Rules from sections 5.48 to 5.67, and all directors have complied with these regulations for the nine months ending December 31, 2021[65] - The company has adhered to the corporate governance code as per GEM Listing Rules Appendix 15, with the exception of the chairman's absence from the annual general meeting due to other important duties[66] - An audit committee was established on September 21, 2011, consisting of three independent non-executive directors, to review and supervise the financial reporting process and internal controls[68] Future Plans and Strategies - The group plans to utilize the estimated net proceeds of approximately HK$10,000,000 from the subscription of new shares for the development of logistics agency services and IP automation and entertainment business[47] - The group is seeking to diversify its entertainment business by providing brand management and marketing consulting services for cultural industry parks and shopping centers in China, Hong Kong, and Macau[48] - The group has successfully resumed logistics agency services and expanded brand management and marketing consulting services during the review period[42] Stock Options and Equity - The company has a conditional stock option plan that was adopted on September 21, 2011, and will last for ten years, with no further options to be granted after September 20, 2021[51] - The stock option plan's fair value per share at the grant date was HKD 0.68, with an exercise price of HKD 0.13027[52] - The company’s stock option plan remains effective for options granted during its active period, despite the plan's expiration[51] Dividend Policy - The company did not recommend the payment of any dividend for the nine months ended December 31, 2021[5] - The company does not recommend the payment of dividends for the nine months ended December 31, 2021[31] Financial Position - The total equity attributable to the owners of the company as of December 31, 2021, was HKD 303,271,000, an increase from HKD 299,565,000 as of December 31, 2020[13] - The company’s total assets as of December 31, 2021, were HKD 22,363,000, compared to HKD 24,221,000 as of December 31, 2020, reflecting a decrease of 8%[13] Compliance and Reporting - The unaudited condensed consolidated financial statements for the nine months ending December 31, 2021, have been reviewed by the audit committee and are deemed to comply with applicable accounting standards and regulations[68] - The company reported its third-quarter results for 2021, indicating ongoing financial performance and strategic direction[70]

Financial Highlights and Performance Overview [Performance Summary](index=3&type=section&id=Performance%20Summary) The Group's unaudited revenue grew 22.1% year-on-year, with consolidated loss attributable to owners narrowing to HKD 4.49 million, and no interim dividend declared | Metric | Amount (HKD Thousands) | Year-on-Year Change | | :--- | :--- | :--- | | Unaudited Revenue | 4,577 | ▲ 22.1% | | Consolidated Loss Attributable to Owners of the Company | 4,491 | ▼ 13.6% (Loss Reduced) | | Loss Per Share (Continuing Operations) | 0.18 HK cents | - | | Interim Dividend | Not Declared | - | [Condensed Consolidated Financial Statements](index=4&type=section&id=Condensed%20Consolidated%20Financial%20Statements) Despite revenue growth, gross profit declined, net loss narrowed due to discontinued operations, but total assets, equity, and operating cash flow decreased, indicating financial pressure [Consolidated Statement of Comprehensive Income](index=4&type=section&id=Consolidated%20Statement%20of%20Comprehensive%20Income) Revenue from continuing operations increased by 22.1% to HKD 4.577 million, while gross profit slightly decreased, and total comprehensive loss narrowed to HKD 4.491 million | Metric (HKD Thousands) | 2021 (Unaudited) | 2020 (Unaudited) | Year-on-Year Change | | :--- | :--- | :--- | :--- | | **Revenue from Continuing Operations** | **4,577** | **3,748** | **+22.1%** | | Gross Profit | 1,740 | 1,858 | -6.3% | | Loss Before Tax (Continuing Operations) | (4,354) | (4,085) | +6.6% (Loss Widened) | | **Total Loss for the Period** | **(4,491)** | **(5,199)** | **-13.6% (Loss Narrowed)** | | Loss Per Share (Continuing Operations) | 0.18 HK cents | 0.17 HK cents | - | [Consolidated Statement of Financial Position](index=6&type=section&id=Consolidated%20Statement%20of%20Financial%20Position) Total assets decreased to HKD 27.221 million, net assets (equity) declined to HKD 11.611 million due to period loss, and cash and cash equivalents significantly reduced | Metric (HKD Thousands) | Sep 30, 2021 (Unaudited) | Mar 31, 2021 (Audited) | Change | | :--- | :--- | :--- | :--- | | Total Assets | 27,221 | 33,263 | ▼ 18.2% | | Total Liabilities | 15,610 | 17,161 | ▼ 9.0% | | **Net Assets (Total Equity)** | **11,611** | **16,102** | **▼ 27.9%** | | Cash and Cash Equivalents | 18,740 | 26,539 | ▼ 29.4% | [Consolidated Statement of Changes in Equity](index=8&type=section&id=Consolidated%20Statement%20of%20Changes%20in%20Equity) Total equity attributable to owners decreased from HKD 16.102 million to HKD 11.611 million, primarily due to the HKD 4.491 million loss incurred - Total comprehensive loss for the period was **HKD 4.491 million**, causing total shareholders' equity to decrease from **HKD 16.102 million** to **HKD 11.611 million**[38](index=38&type=chunk) [Consolidated Statement of Cash Flows](index=9&type=section&id=Consolidated%20Statement%20of%20Cash%20Flows) Operating activities resulted in a net cash outflow of HKD 7.799 million, a reversal from prior year's inflow, with cash and cash equivalents decreasing to HKD 18.74 million | Metric (HKD Thousands) | 2021 (Unaudited) | 2020 (Unaudited) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | (7,799) | 30,916 | | Net Cash Flow from Investing Activities | – | (469) | | Net Cash Flow from Financing Activities | – | (12,000) | | **Net Decrease in Cash and Cash Equivalents** | **(7,799)** | **18,447** | | Cash and Cash Equivalents at End of Period | 18,740 | 18,952 | Notes to the Unaudited Condensed Consolidated Interim Financial Results [General Information and Basis of Preparation](index=10&type=section&id=General%20Information%20and%20Basis%20of%20Preparation) The Company, an investment holding entity in Cayman Islands, operates dry bulk shipping, logistics, and IP automation/entertainment, with interim financials prepared under HKAS 34 - The Company's main businesses include **dry bulk shipping logistics agency** and **IP automation and entertainment**[42](index=42&type=chunk) - Interim accounts are prepared in accordance with **Hong Kong Accounting Standard 34** "Interim Financial Reporting" and **GEM Listing Rules**[43](index=43&type=chunk) [Revenue and Segment Information](index=12&type=section&id=Revenue%20and%20Segment%20Information) All HKD 4.577 million revenue derived from IP automation and entertainment, while dry bulk shipping had no revenue, and the IP segment recorded an operating loss of HKD 1.946 million Segment Revenue and Results (For the six months ended September 30, 2021) | Segment | Revenue (HKD Thousands) | Segment Results (HKD Thousands) | | :--- | :--- | :--- | | IP Automation and Entertainment | 4,577 | (1,946) | | Dry Bulk Shipping and Logistics Agency Services | – | (17) | | **Total** | **4,577** | **(1,963)** | [Other Key Notes](index=15&type=section&id=Other%20Key%20Notes) The Board did not recommend a dividend, basic loss per share was from continuing operations, trade receivables significantly increased, and no major capital commitments or contingent liabilities existed - The Board does not recommend the payment of an **interim dividend** for the six months ended September 30, 2021[62](index=62&type=chunk) - Trade receivables significantly increased from **HKD 0.657 million** to **HKD 2.09 million**, primarily for amounts due on demand to 30 days[74](index=74&type=chunk) - As of September 30, 2021, the Group had **no significant commitments or contingent liabilities**[80](index=80&type=chunk) Management Discussion and Analysis [Business Review](index=21&type=section&id=Business%20Review) Dry bulk shipping and logistics had no revenue due to external factors, while IP automation and entertainment generated all HKD 4.58 million revenue from diverse sources but still incurred a loss - The **dry bulk shipping and logistics agency services segment** generated **zero revenue** during the period due to macroeconomic environmental impacts[88](index=88&type=chunk) - IP automation and entertainment business revenue sources are diversified, including: - **"Ganawawa" stores** contributed approximately **HKD 2.16 million** - **Medical mask sales and marketing** contributed approximately **HKD 1.22 million** - **Mask raw material trading** contributed approximately **HKD 1.20 million**[89](index=89&type=chunk) [Financial Review](index=22&type=section&id=Financial%20Review) Revenue grew 22.1% to HKD 4.577 million, administrative expenses slightly decreased, and loss attributable to owners narrowed, but liquidity weakened with declining assets, net assets, cash, and rising gearing ratio Financial Performance Review (For the six months ended September 30) | Metric (HKD Thousands) | 2021 | 2020 | Change | | :--- | :--- | :--- | :--- | | Revenue | 4,577 | 3,748 | ▲ 22.1% | | Administrative and Operating Expenses | 5,966 | 6,059 | ▼ 1.5% | | Loss Attributable to Owners of the Company | 4,491 | 5,199 | ▼ 13.6% | Liquidity and Capital Structure | Metric (HKD Thousands) | Sep 30, 2021 | Mar 31, 2021 | Change | | :--- | :--- | :--- | :--- | | Total Assets | 27,221 | 33,263 | ▼ 18.2% | | Net Assets | 11,611 | 16,102 | ▼ 27.9% | | Cash and Bank Balances | 18,740 | 26,539 | ▼ 29.4% | | Gearing Ratio | 34% | 31.4% | ▲ | [Prospects](index=23&type=section&id=Prospects) The Group plans to resume dry bulk shipping and logistics services while diversifying entertainment business into brand management and marketing consulting for cultural and retail sectors - Plans to resume **dry bulk shipping and logistics agency services**[102](index=102&type=chunk) - Seeking diversified entertainment businesses, expanding into **brand management and marketing consulting services**[102](index=102&type=chunk) Other Information [Interests and Share Options](index=24&type=section&id=Interests%20and%20Share%20Options) The report details unexercised share options and share interests of directors and major shareholders, with Chairwoman Ms. Pansy Ho Chiu-king holding approximately 25.68% equity - Chairwoman **Ms. Pansy Ho Chiu-king** collectively holds approximately **25.68%** of the Company's equity through beneficial ownership and controlled corporate interests[107](index=107&type=chunk) - Major shareholders **Refulgent Sunrise Limited** and **Mr. Zhao Genlong** hold **9.26%** and **8.09%** of the Company's equity, respectively[110](index=110&type=chunk) [Corporate Governance and Other Disclosures](index=27&type=section&id=Corporate%20Governance%20and%20Other%20Disclosures) The Company largely complied with corporate governance, noting a deviation where the Chairwoman missed the AGM, and the Review Committee has reviewed the interim financial statements - The Company complied with the Corporate Governance Code, but with a deviation: the **Chairwoman was unable to attend the 2021 Annual General Meeting**[117](index=117&type=chunk)[119](index=119&type=chunk) - The **Review Committee** has reviewed the unaudited condensed consolidated interim financial statements for the six months ended September 30, 2021[120](index=120&type=chunk) [Subscription of New Shares](index=29&type=section&id=Subscription%20of%20New%20Shares) The Company plans to issue 140 million new shares at HKD 0.072 each, raising approximately HKD 10 million for business development and working capital - The Company plans to raise approximately **HKD 10 million** by issuing **140 million new shares**, to be used for business development and working capital[122](index=122&type=chunk)

Financial Performance - For the three months ended June 30, 2021, the group's unaudited revenue was approximately HKD 894,000, a decrease of about 39% compared to HKD 1,466,000 for the same period in 2020[5] - The group recorded an unaudited consolidated loss attributable to owners of the company from continuing operations of approximately HKD 1,977,000, compared to a loss of HKD 2,001,000 in the same period of 2020[5] - The loss per share from continuing operations for the three months ended June 30, 2021, was HKD 0.08, consistent with the loss per share of HKD 0.08 in the same period of 2020[19] - Revenue for the three months ended June 30, 2021, decreased by approximately 39% to HKD 894,000 compared to HKD 1,466,000 in the same period of 2020[46] - The loss attributable to owners of the company from continuing operations for the three months ended June 30, 2021, was approximately HKD 1,977,000, compared to a loss of HKD 2,001,000 in the same period of 2020[46] - The total comprehensive loss for the period was HKD 1,977,000, compared to HKD 2,044,000 for the same period in 2020[18] - The company reported a pre-tax loss of HKD 1,925,000 for the three months ended June 30, 2021, compared to a pre-tax loss of HKD 2,001,000 in the same period of 2020[32] Operating Costs and Expenses - The group's operating costs for the three months ended June 30, 2021, were HKD 273,000, down from HKD 791,000 in the same period of 2020[9] - Administrative and operating expenses for the three months ended June 30, 2021, were HKD 2,514,000, slightly down from HKD 2,589,000 in the same period of 2020[10] - Administrative and operating expenses for the three months ended June 30, 2021, decreased by approximately 2.9% to about HKD 2,514,000 from approximately HKD 2,589,000 in the same period of 2020[46] - The interest on lease liabilities for the three months ended June 30, 2021, was HKD 32,000, down from HKD 87,000 in the same period of 2020[31] - As of June 30, 2021, the total employee benefits expenditure (including director remuneration) was approximately HKD 1,060,000, a decrease of about 25% from HKD 1,410,000 for the same period in 2020[51] Business Operations - The group operates primarily in dry bulk shipping and shipping agency services, as well as IP automation and entertainment businesses[23] - The IP automation and entertainment business generated revenue of approximately HKD 894,000, a decrease of about 39.5% from HKD 1,466,000 in the previous year[45] - The net loss from the dry bulk shipping and agency services was approximately HKD 19,000 for the three months ended June 30, 2021, compared to a net loss of approximately HKD 238,080 in the same period of 2020[44] Shareholder Information - As of June 30, 2021, the company’s major shareholders included Refulgent Sunrise Limited, holding 229,062,500 shares (9.26% of the company’s equity) and Zhao Genlong, holding 200,000,000 shares (8.09%)[60] - Ms. He Chaoyuan holds a total of 636,952,500 shares/related shares, representing approximately 25.76% of the company's equity[57] - The weighted average number of ordinary shares for the three months ended June 30, 2021, was 2,472,959,000 shares, unchanged from the previous year[40] Dividend Policy - The company did not recommend the payment of any dividends for the three months ended June 30, 2021[5] - The company did not recommend any dividend for the three months ended June 30, 2021, consistent with the same period in 2020[37] Future Plans and Developments - The company plans to develop a comprehensive entertainment venue exceeding 7,000 square feet in Westwood in Q4 2021, introducing elements such as e-sports and STEAM education[53] - Mobile/pop-up amusement parks will be launched in various shopping centers across Hong Kong, with confirmed locations including Whampoa in July 2021 and West Point City in August 2021[53] - The company aims to enhance its entertainment offerings to attract more visitors and generate additional revenue streams[53] Employee Information - The company employed 18 full-time employees and 4 consultants as of June 30, 2021, compared to 19 full-time employees and 4 part-time employees in the previous year[51] - The company’s employee remuneration is determined based on market terms and individual performance, qualifications, and experience[51] - The company has adopted a share option scheme to reward eligible participants, including full-time employees, for their contributions[54] - The company’s stock options granted as of June 30, 2021, are subject to specific terms outlined in the company’s prospectus[54] Compliance and Governance - The financial statements were prepared in accordance with the Hong Kong Financial Reporting Standards and GEM Listing Rules, with no significant impact from the adoption of new standards[24] - The company has adopted a code of conduct regarding securities trading by directors, which complies with GEM Listing Rules[66] - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited condensed consolidated financial statements for the first quarter ended June 30, 2021, ensuring compliance with applicable accounting standards[69] Share Transactions - No shares or debt securities of the company were purchased, redeemed, or sold by the company or its subsidiaries during the three months ended June 30, 2021[64]

Financial Performance - The Group's revenue for the fiscal year ending March 31, 2021, was approximately HKD 7,180,000, a decrease of about 84.21% compared to HKD 45,430,000 in the previous year[29]. - The Group recorded a net loss attributable to shareholders of approximately HKD 8,150,000 for the fiscal year, a reduction from a net loss of HKD 39,510,000 in the previous year[29]. - The Group's dry bulk shipping and logistics business generated no revenue for the fiscal year, down from approximately HKD 44,760,000 in the previous year, due to the impact of the COVID-19 pandemic and market competition[28]. - The IP automation and entertainment business generated revenue of approximately HKD 7,180,000, significantly up from HKD 669,000 in the previous year[29]. - The group's revenue for the fiscal year decreased by approximately 84.21% to about HKD 7,180,000, compared to approximately HKD 45,430,000 in the previous year[38]. - The net loss attributable to the owners of the company for the fiscal year was approximately HKD 8,150,000, a decrease from a net loss of approximately HKD 39,510,000 in the previous year[41]. - The administrative and operating expenses increased by approximately 24.27% to about HKD 12,950,000, up from approximately HKD 10,290,000 last year[39]. - The total employee cost for the fiscal year was approximately HKD 4,980,000, down from approximately HKD 7,950,000 in the previous year[54]. Business Expansion and Strategy - The Group plans to expand its business by developing a comprehensive entertainment playground of over 7,000 square feet in Westwood in the fourth quarter of 2021[31]. - Mobile/pop-up playgrounds will be established in various shopping centers, with confirmed locations including Whampoa in July 2021 and West Point City in August 2021[31]. - The Group's strategy includes introducing e-sports, STEAM education, and party elements to enhance the entertainment experience[31]. - The Group plans to expand its Ganawawa business by developing an integrated entertainment playground of over 7,000 square feet in Westwood in Q4 2021[55]. - Mobile/pop-up playgrounds will be opened in various shopping centers, with confirmed locations including Whampoa in July 2021 and West Point City in August 2021[55]. Governance and Compliance - The board consists of 4 executive directors and 3 independent non-executive directors, ensuring over one-third of the board is independent[62]. - The board held a total of 11 meetings during the fiscal year, with all executive directors attending all meetings[66]. - The nomination committee is responsible for reviewing the board's structure and diversity at least annually, ensuring alignment with the company's corporate strategy[74]. - Independent non-executive directors are required to have a service agreement with a term of three years, subject to re-election[71]. - The company emphasizes compliance with GEM listing rules and corporate governance practices, providing regular updates to all directors[70]. - The audit committee is chaired by an independent non-executive director, ensuring oversight of financial reporting and compliance[62]. - The company has established a remuneration committee to oversee executive compensation and ensure alignment with performance[62]. - The board is responsible for the overall strategy and financial performance of the company, with executive directors managing day-to-day operations[64]. - The company has implemented a process for independent professional advice to assist directors in fulfilling their duties[70]. - The board's composition and performance are regularly assessed to ensure it meets the company's needs and regulatory requirements[75]. - The company has adopted a board diversity policy to enhance decision-making capabilities, considering factors such as independence, age, gender, race, and cultural background[77]. - The nomination committee held two meetings during the fiscal year to discuss board structure, diversity, and the extension of independent non-executive directors' terms[78]. - All independent non-executive directors confirmed their independence according to GEM Listing Rules, and the company believes they all meet the independence guidelines[79]. - The company has implemented a code of conduct for securities trading, ensuring compliance with GEM Listing Rules, and all directors adhered to these regulations during the fiscal year[81]. - The company reported a comprehensive financial statement for the year ending March 31, 2021[111]. - The company has established a robust governance framework, detailed in the corporate governance report[177]. Financial Position and Assets - As of March 31, 2021, the group's current assets net value was approximately HKD 13,660,000, down from approximately HKD 20,310,000 in the previous year[42]. - The group's cash and bank balance as of March 31, 2021, was approximately HKD 26,540,000, significantly up from approximately HKD 1,150,000 in the previous year[42]. - The group's debt-to-equity ratio improved to 31.40% as of March 31, 2021, compared to 77.85% in the previous year[42]. - The company reported a cash reserve available for distribution as zero as of March 31, 2021, consistent with the previous year, with a share premium of approximately HKD 288.84 million and accumulated losses of approximately HKD 299.67 million[123]. - The group reported trade receivables of approximately HKD 692,000 and other receivables of approximately HKD 340,000 as of March 31, 2021[185]. - Expected credit loss provisions for trade receivables were approximately HKD 35,000, while for other receivables, it was approximately HKD 303,000[185]. - The impairment losses recognized for property, plant, and equipment amounted to approximately HKD 919,000 and HKD 1,483,000 for right-of-use assets as of March 31, 2021[189]. Future Outlook and Investments - Future outlook indicates a projected revenue growth of 15% for the next fiscal year, driven by new product launches and market expansion strategies[135]. - The company is investing in R&D for new technologies, with an allocated budget of $10 million for the upcoming year[138]. - Market expansion efforts include entering three new international markets by the end of Q3 2022, aiming for a 20% increase in market share[139]. - The company has completed a strategic acquisition of a competitor, valued at $50 million, to enhance its service offerings[140]. - New product lines are expected to contribute an additional $5 million in revenue within the first six months post-launch[141]. - The company has established partnerships with two major healthcare providers to expand its service network[136]. - A focus on sustainability initiatives is projected to reduce operational costs by 10% over the next two years[137]. Shareholder and Securities Information - As of March 31, 2021, the company’s major shareholders include Ms. Ho Chiu-Yin with a beneficial ownership of 407,890,000 shares (16.49%) and 229,062,500 shares (9.26%) held through Refulgent Sunrise Limited, totaling approximately 25.76% of the company's equity[148]. - Ms. Wen Ying-Yi holds 441,900,000 shares, representing 17.87% of the company's equity, while Mr. Wang Qiang holds 100,000,000 shares (4.04%) and Mr. Liu Ling-De holds 43,937,500 related shares (1.78%) as of the same date[148]. - The company confirmed it maintains sufficient public float as required by GEM listing rules as of the report date[155]. - No purchases, sales, or redemptions of the company's listed securities were made by the company or its subsidiaries during the fiscal year[156]. - On February 17, 2021, the company’s wholly-owned subsidiary entered into a subscription agreement to issue 11,395 new ordinary shares for an initial subscription amount of HKD 2,500,000, resulting in the issuer being owned approximately 18% by the company post-completion[160]. - The subscription agreement was completed on September 17, 2020, with a subscription price of HKD 1,930,540, resulting in the company's equity interest in the issuer and its subsidiaries being diluted to approximately 17.99%[161]. - The subscription is considered a related party transaction, with the applicable percentage rate being below 5% and the consideration being below HKD 3,000,000, thus exempting it from shareholder approval, reporting, and announcement requirements under GEM Listing Rules[161]. - The company has adopted a share option scheme aimed at enhancing the interests of the company and its shareholders by granting options to attract, retain, and reward eligible individuals[166]. - The maximum number of shares that may be issued under the share option scheme is 241,000,000 shares, equivalent to approximately 9.75% of the issued share capital as of the report date[173]. - The board has the discretion to determine the terms of the options, with the exercise price being the higher of the closing price on the date of grant or the average closing price over the preceding five trading days[169]. - The company is authorized to issue options to subscribe for a total of 226,000,000 shares, which is 10% of the total issued shares as of the update date[170]. - The acceptance period for the options is generally not to exceed ten trading days from the date of the offer[172]. - The company has confirmed that all directors have complied with the trading rules during the financial year[164]. - Related party transactions during the financial year are detailed in the financial statements, with no transactions constituting related party transactions as defined by GEM Listing Rules[165]. - The subscription proceeds will be used to support the future working capital of the issuer[161]. Audit and Financial Reporting - The independent auditor's report confirmed that the consolidated financial statements reflect the group's financial position accurately as of March 31, 2021[180]. - The financial statements were prepared in accordance with the Hong Kong Financial Reporting Standards, ensuring compliance with disclosure requirements[180]. - The audit committee is tasked with overseeing the financial reporting process of the company[195]. - The auditors aim to obtain reasonable assurance that the consolidated financial statements are free from material misstatement due to fraud or error[199]. - The auditors identified and assessed risks of material misstatement due to fraud or error and designed audit procedures to address these risks[199]. - The company must evaluate its ability to continue as a going concern and disclose relevant matters if applicable[194]. - The independent auditor's report highlighted key audit matters, including the assessment of expected credit losses and impairment of assets[184]. - The group has implemented significant monitoring measures to manage and control credit risk related to trade and other receivables[185]. - The management's assessment of the recoverability of trade and other receivables is based on various factors, including customer credit status and historical settlement records[185]. - The group plans to present a resolution at the upcoming annual general meeting to reappoint the auditor for the next term[178].

Financial Performance - For the nine months ended December 31, 2020, the group's unaudited revenue reached HKD 5,737,000, a decrease of approximately 83.7% compared to the same period in 2019[5]. - The company reported a consolidated loss attributable to owners of approximately HKD 8,246,000 for the nine months ended December 31, 2020, compared to a loss of approximately HKD 7,262,000 in the same period of 2019[5]. - The loss per share for the nine months ended December 31, 2020, was approximately HKD 0.33[5]. - For the three months ended December 31, 2020, the group's revenue was HKD 1,989,000, down from HKD 6,137,000 in the same period of 2019[7]. - The company experienced significant financial challenges, reflected in the substantial decrease in revenue and increase in losses compared to the previous year[5]. - The company reported a total comprehensive loss of HKD 8,246,000 for the nine months ended December 31, 2020, compared to a loss of HKD 7,262,000 for the same period in 2019[13]. - The company incurred a loss before tax of HKD 7,132,000 for the nine months ended December 31, 2020, compared to a loss of HKD 5,334,000 in 2019[27]. - The company recorded a net loss of approximately HKD 667,000 in its dry bulk shipping business for the nine months ended December 31, 2020, compared to a net profit in the same period last year[54]. - The company reported a loss of approximately HKD 2,883,000 in its IP automation and entertainment business for the review period[55]. Revenue Breakdown - Revenue from dry bulk shipping and agency services was HKD 34,822,000 for the nine months ended December 31, 2019, while it was zero for the same period in 2020[20]. - Revenue from IP automation and entertainment business increased to HKD 5,737,000 for the nine months ended December 31, 2020, compared to HKD 412,000 in 2019[21]. - The company’s total revenue for the nine months ended December 31, 2020, was HKD 6,137,000, down from HKD 35,234,000 in 2019[22]. - For the nine months ended December 31, 2020, the company's revenue decreased by approximately 83.7% to about HKD 5,737,000, down from HKD 35,234,000 in the same period last year[58]. Expenses - The cost of sales for the three months ended December 31, 2020, was HKD (2,153,000), compared to HKD (5,686,000) in the same period of 2019[7]. - The administrative and operating expenses for the nine months ended December 31, 2020, totaled HKD (8,835,000), compared to HKD (6,832,000) in the same period of 2019[7]. - The company’s employee benefits expenses for the nine months ended December 31, 2020, amounted to approximately HKD 4,438,000, compared to HKD 3,104,000 in the previous year[62]. - The company’s financing costs for the nine months ended December 31, 2020, were HKD 266,000, an increase from HKD 204,000 in the previous year[42]. - The company reported administrative expenses of HKD 1,904,000 for the period[36]. - The financing costs for the period were HKD 6,000[37]. Dividends and Shareholder Information - The company did not recommend the payment of any dividends for the nine months ended December 31, 2020[5]. - The company did not purchase, redeem, or sell any of its listed shares during the nine months ending December 31, 2020[76]. - No rights were granted to any directors or their immediate family members to acquire shares or debt securities of the company during the reporting period[75]. - The company has ensured compliance with all relevant regulations regarding the disclosure of shareholdings by directors and major shareholders[73]. - As of December 31, 2020, the company had a total of 636,952,500 shares, representing approximately 25.68% of the company's equity, held by Ms. He Chaoqian[69]. - Ms. He Chaoqian personally holds 407,890,000 shares, accounting for 16.49% of the company's equity[67]. - Refulgent Sunrise Limited, owned 36% by Ms. He Chaoqian, holds 229,062,500 shares, representing 9.26% of the company's equity[72]. Corporate Governance - The company has adopted a code of conduct for securities trading by directors, which complies with GEM listing rules[78]. - The company has complied with all provisions of the GEM Listing Rules Appendix 15 Corporate Governance Code, except for the absence of the chairman at the annual general meeting due to other important duties[79]. - The chairman, Ms. Ho Chiu-Yin, was unable to attend the annual general meeting held on September 30, 2020, but the executive director, Mr. Liu Ling-De, chaired the meeting and addressed shareholder questions[80]. - The Audit Committee, established on September 21, 2011, consists of three independent non-executive directors and has reviewed the unaudited condensed consolidated financial statements for the nine months ended December 31, 2020[81]. - The Audit Committee believes that the financial statements comply with applicable accounting standards and have made adequate disclosures[81]. - The company’s executive directors include Ms. Ho Chiu-Yin (Chairman), Mr. Liu Ling-De, Ms. Wen Ying-Yi, and Mr. Wang Qiang, with independent non-executive directors being Mr. Shao Zhi-Yao, Mr. Li Zhi-Qiang, and Dr. Zhou Hao-Yun[82]. Employment - The company employed 20 full-time and 4 part-time employees as of December 31, 2020, compared to 15 full-time employees in the previous year[62]. - The company has a stock option plan that allows selected participants, including full-time employees, to acquire shares[66]. - As of December 31, 2020, no directors or key executives held any interests in businesses that could significantly compete with the company[77]. - The company reported no changes in the shareholdings of directors and key executives that required disclosure under the Securities and Futures Ordinance[70]. Future Plans - The company plans to continue monitoring and reviewing its shipping and IP automation businesses while actively exploring new business opportunities[63].

Financial Performance - For the six months ended September 30, 2020, the group's unaudited revenue was approximately HKD 3,748,000, a decrease of about 87% compared to the same period in 2019[4] - The loss attributable to owners of the company for the six months ended September 30, 2020, was approximately HKD 5,199,000, compared to a loss of approximately HKD 4,650,000 in the same period of 2019[4] - The loss per share from continuing operations for the six months ended September 30, 2020, was approximately HKD 0.17[4] - The total comprehensive loss attributable to owners of the company for the six months ended September 30, 2020, was HKD 5,199,000, compared to HKD 4,650,000 in the same period of 2019[13] - The company reported a net loss of HKD 5,199,000 for the six months ended September 30, 2020, compared to a net loss of HKD 4,650,000 for the same period in 2019[20] - The total comprehensive loss for the period was HKD 5,199,000, reflecting the company's financial challenges during this period[20] - The loss attributable to the company's owners for the six months ended September 30, 2020, was approximately HKD 5,199,000, compared to a loss of HKD 4,650,000 in the same period last year, primarily due to a revenue decrease of about 87%[79] Cash and Assets - The group's cash and cash equivalents as of September 30, 2020, were HKD 18,952,000, significantly up from HKD 505,000 as of March 31, 2020[15] - The company had a cash and cash equivalents balance of HKD 19,022,000 as of September 30, 2020, compared to HKD 63,733,000 as of April 1, 2020[20] - The company's total assets as of September 30, 2020, were HKD 24,730,000, consistent with the previous reporting period[20] - As of September 30, 2020, the group's total assets and net asset value were approximately HKD 34,510,000 and HKD 19,022,000, respectively, down from HKD 53,640,000 and HKD 24,221,000 as of March 31, 2020[80] - The group's cash and bank balances as of September 30, 2020, were approximately HKD 18,952,000, significantly up from HKD 505,000 as of March 31, 2020[80] - The total assets as of September 30, 2020, amounted to HKD 34,510 million, while total liabilities were HKD 15,488 million[36] Expenses and Liabilities - The group's administrative and operating expenses for the six months ended September 30, 2020, were HKD 6,059,000, compared to HKD 4,394,000 in the same period of 2019[11] - The total liabilities decreased from HKD 25,670,000 as of March 31, 2020, to HKD 14,035,000 as of September 30, 2020[17] - The total employee benefit expenses for the six months ended September 30, 2020, amounted to approximately HKD 3,060,000, compared to HKD 2,407,000 for the same period last year[87] - Other payables and accrued expenses increased to HKD 2,762,000 as of September 30, 2020, compared to HKD 1,527,000 as of March 31, 2020[65] Revenue Sources - Revenue from the entertainment business's IP automation was HKD 3,748,000 for the six months ended September 30, 2020, while dry bulk shipping services generated no revenue during the same period[30] - Total revenue for the six months ended September 30, 2020, was HKD 30,953 million, with a significant contribution from dry bulk shipping at HKD 29,097 million[34] - The company launched a new "Procare" medical mask sales and marketing project, contributing approximately HKD 3,293,000 to revenue since its launch in June 2020[75] Dividends and Shareholder Information - The group did not recommend the payment of an interim dividend for the six months ended September 30, 2020[4] - The company did not recommend any dividend for the six months ended September 30, 2020[47] - As of September 30, 2020, Refulgent Sunrise Limited holds 229,062,500 shares, representing 9.26% of the company's ordinary shares[97] - Mr. Zhao Genlong holds 200,000,000 shares, accounting for 8.09% of the company's ordinary shares[97] - Ms. He Chaoyan owns 36% of Refulgent Sunrise Limited, which indirectly gives her rights to the shares held by the company[98] Compliance and Governance - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited interim financial statements for the six months ending September 30, 2020[107] - The company has complied with the GEM Listing Rules and corporate governance code, except for the absence of the chairperson at the annual general meeting due to other commitments[106] - The company has adopted a code of conduct for securities trading, which all directors have adhered to during the reporting period[103] - No directors or their associates held any interests in businesses that may compete with the company as of September 30, 2020[102] - The company has not granted any rights to directors or their family members to benefit from acquiring shares or debt securities during the reporting period[100] - The interim financial report has been prepared in compliance with applicable accounting standards and regulations[107] Business Strategy and Future Outlook - The company continues to focus on its core businesses, including dry bulk shipping and IP automation services, as part of its strategic direction[24] - The company continues to explore new business opportunities to enhance shareholder wealth and diversify risks in its IP automation and entertainment businesses[88] - The group maintains a conservative financial policy, continuously assessing the financial status of its clients to mitigate credit risk[85] - The company has no significant commitments or contingent liabilities as of September 30, 2020[68] - The group has no significant investments as of September 30, 2020[82] - The group has not made any significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the six months ended September 30, 2020[83]

Financial Performance - The company recorded revenue of approximately HKD 4,070,000 from corporate finance advisory services, an increase of about 24.85% compared to HKD 3,260,000 in the previous year[23]. - The corporate finance advisory segment reported a net loss of approximately HKD 2,440,000, improved from a net loss of HKD 4,410,000 in the previous year[23]. - The company recorded revenue of approximately HKD 44,760,000 for the year ended March 31, 2020, a decrease of about 51.34% compared to HKD 91,980,000 in 2019[26]. - The company reported an operating loss of approximately HKD 28,760,000 for the year, compared to an operating loss of HKD 8,350,000 in 2019[26]. - Total revenue for the group was approximately HKD 49,500,000 for the year ended March 31, 2020, down approximately 48.03% from HKD 95,240,000 in 2019[28]. - The net loss attributable to the company's owners was approximately HKD 39,510,000, compared to a net loss of HKD 18,970,000 in 2019[28]. - The IP automation and entertainment business generated revenue of approximately HKD 669,000 since its opening in November 2019, with a post-tax loss of approximately HKD 3,350,000 attributed to COVID-19 impacts[27]. - The company has recognized an impairment loss of HKD 26,810,000 related to goodwill associated with its shipping business investments[28]. - The company anticipates that revenue from the shipping business will further decrease by over 50% in 2021 compared to 2020, due to ongoing market challenges[45]. - The group recorded a net current asset value of approximately HKD 20,310,000, down from approximately HKD 36,450,000 in the previous year[56]. - The debt-to-equity ratio as of March 31, 2020, was 77.85%, a significant increase from 13.77% in the previous year[56]. - The company reported a cash reserve of zero as of March 31, 2020, compared to approximately HKD 32,379,000 in 2019, with accumulated losses increasing to approximately HKD 327,824,000 from HKD 256,458,000 in the previous year[136]. Business Operations - The dry bulk shipping and logistics services faced significant challenges due to geopolitical tensions, trade wars, and the COVID-19 pandemic, impacting profitability[24]. - The company is focusing on promoting its light capital-intensive logistics business in the second half of the fiscal year[24]. - The company plans to temporarily suspend its dry bulk shipping business and focus on its logistics services[31]. - The company has initiated a new project for the sale and marketing of Procare HK masks, generating approximately HKD 970,000 in revenue in May 2020[31]. - Due to the COVID-19 pandemic, revenue from the Ganawawa store of Wider Yield Limited dropped sharply, with sales in February 2020 decreasing by 91% compared to January 2020[70]. - The two stores were closed for 66 days from February to May 2020, and significant sales growth is not expected for the remaining months of the fiscal year[70]. - The company has undertaken a new project for the sale and marketing of Procare HK masks, generating approximately HKD 970,000 in revenue in May 2020, which is expected to create additional income sources[70]. - The company will continue to actively explore other business opportunities in its IP automation and entertainment business to enhance shareholder wealth and diversify business risks[70]. Corporate Governance - The Nomination Committee held three meetings during the fiscal year to discuss and review the board's structure, size, composition, and diversity[91]. - All independent non-executive directors confirmed their independence according to GEM Listing Rules, and the company believes they all meet the independence guidelines[91]. - The board has adopted a diversity policy to enhance decision-making capabilities, considering factors such as independence, age, gender, and cultural background[90]. - The company has set measurable targets for board diversity regarding cultural background, education, skills, and experience, which will be reviewed periodically[90]. - The Remuneration Committee was established in September 2011 and has held two meetings during the fiscal year to discuss the company's remuneration policy[99][101]. - The remuneration policy aims to ensure overall compensation is fair and competitive, based on directors' skills, knowledge, and contributions[98]. - The company encourages directors to participate in professional training and seminars to update their knowledge and skills[95]. - All directors have complied with the trading code for securities transactions during the fiscal year[94]. - The Nomination Committee evaluates potential board candidates based on their skills, experience, and compliance with GEM Listing Rules[88]. - The board's diversity policy is aimed at ensuring appointments are merit-based and enhance the overall skills and experience of the board[90]. Audit and Compliance - The external auditor, Guowei CPA, provided audit services for the fiscal year ending March 31, 2020, with fees amounting to HKD 580,000, an increase from HKD 570,000 in 2019[103]. - The Audit Committee held five meetings during the fiscal year to review the group's financial reporting procedures and internal control systems[111]. - The company emphasizes the importance of effective communication with shareholders, utilizing various channels including annual and special general meetings, and regular reports[114]. - The company has established clear guidelines for matters requiring board decisions, including capital, financing, and financial reporting[113]. - The Audit Committee is responsible for reviewing and approving the internal audit plan and assessing the independence of the external auditor[111]. - The company ensures timely and accurate disclosure of information to the public, adhering to GEM listing rules and relevant laws[119]. - The external auditor's independence and objectivity are regularly reviewed by the Audit Committee[111]. - The Audit Committee has been tasked with reviewing risk management and internal control systems to ensure their effectiveness[111]. - The company maintains a commitment to providing shareholders with comprehensive and transparent financial reports[119]. Shareholder Information - The largest customer accounted for 63.42% of sales, while the top five customers represented 91.91% of total sales for the fiscal year[138]. - The largest supplier contributed 27.74% of total purchases, with the top five suppliers making up 81.24% of procurement[138]. - The company had no bank financing as of March 31, 2020, and received shareholder loans totaling approximately HKD 13,479,000, an increase from HKD 8,775,000 in 2019[141]. - The board has established a comprehensive set of policies and procedures in operational, financial, and risk control areas to protect assets and ensure the reliability of financial information[126]. - The company has implemented measures to reduce its carbon footprint, including double-sided printing as the default setting for most network printers[126]. - The risk management and internal control systems are reviewed annually and deemed effective and adequate[126]. - The company has no significant incidents affecting its operations since the end of the fiscal year[126]. - The board continuously monitors the company's risk management and internal control systems[126]. - The company emphasizes the importance of employee welfare and has not experienced any strikes or fatal accidents during the review year[132]. Future Outlook - The company provided guidance for the next fiscal year, projecting revenue growth of A% and an expected EBITDA margin of B%[150]. - New product launches are anticipated to contribute an additional C million in revenue, with a focus on expanding the product line in the D sector[152]. - The company is investing in new technology development, allocating E million towards R&D initiatives aimed at enhancing operational efficiency[151]. - Market expansion plans include entering F new regions, which are expected to drive additional revenue growth of G% over the next two years[148]. - The company is considering strategic acquisitions to bolster its market position, with a budget of H million earmarked for potential targets[147]. - A new marketing strategy has been implemented, aiming to increase brand awareness and customer engagement by I%[146]. - The company reported a strong cash position of J million, providing flexibility for future investments and growth opportunities[145]. - The board of directors emphasized a commitment to sustainability, with plans to reduce carbon emissions by K% over the next five years[152]. Shareholding Structure - The company reported a total equity of approximately 636,952,500 shares, representing about 25.76% ownership by Ms. He Chaozhen[169]. - Ms. He Chaozhen holds 407,890,000 shares, accounting for 16.49% of the company's ordinary shares[167]. - The company has a controlled interest of 229,062,500 shares held by Refulgent Sunrise Limited, which is owned 36% by Ms. He Chaozhen[169]. - Mr. Huang Jin Hua holds a controlled interest of 20,000,000 shares, representing 0.81% of the company[167]. - Ms. Wen Ying Yi owns 441,900,000 shares, which is 17.87% of the company's ordinary shares[167]. - Mr. Wang Qiang holds 100,000,000 shares, accounting for 4.04% of the company's ordinary shares[167]. - Mr. Liu Ling De has a controlled interest of 43,937,500 shares, representing 1.78% of the company[167]. - Refulgent Sunrise Limited holds 229,062,500 shares, representing 9.26% of the company's equity[171]. - Mr. Zhao Genlong holds 200,000,000 shares, representing 8.09% of the company's equity[171]. - The company has maintained sufficient public float as per GEM listing rules[175]. Stock Option Plan - The stock option plan aims to enhance the interests of the company and its shareholders by incentivizing qualified individuals[187]. - The total number of shares that can be issued under the stock option plan is 241,000,000, which represents 9.75% of the issued shares as of the report date[194]. - The maximum limit for unexercised stock options approved under the plan is equivalent to 10% of the company's issued shares after exercise[191]. - The board has the discretion to determine the subscription price for each stock option, which will be the highest of the closing price on the grant date, the average closing price over the five trading days prior to the grant date, or the par value of the shares[190]. - The stock option plan was adopted on September 21, 2011, and is valid for ten years until September 20, 2021[190]. - The maximum number of shares that can be issued to any participant within a twelve-month period due to the exercise of stock options cannot exceed 1% of the company's issued share capital[191]. - The company has no preemptive rights requiring it to offer new shares to existing shareholders on a pro-rata basis[197]. - The board can amend the stock option plan without prior shareholder approval for certain beneficial changes to participants[193]. - The stock option plan allows for the issuance of options that must be exercised within ten years from the grant date[190]. - The board believes that the acceptance period for stock options will not significantly impact the group's operations and finances[193].

Financial Performance - For the three months ended June 30, 2019, the group's unaudited revenue was approximately HKD 16,463,000, a decrease of about 21.15% compared to HKD 20,880,000 for the same period in 2018[4]. - The group recorded an unaudited loss attributable to owners of the company of approximately HKD 1,836,000, compared to a profit of approximately HKD 989,000 for the same period in 2018[4]. - The loss per share for the period was HKD 0.07, compared to a profit per share of HKD 0.04 in the previous year[14]. - Gross profit for the period was HKD 1,221,000, compared to HKD 4,026,000 in the previous year[9]. - Corporate finance advisory income was HKD 344,000, down from HKD 701,000 in the same period last year[23]. - Dry bulk shipping revenue was HKD 16,119,000, a decrease from HKD 20,179,000 in the previous year[23]. - The pre-tax loss for the period was HKD 1,781,000, compared to a pre-tax profit of HKD 1,436,000 in the previous year[27]. - Income tax expense for the period was HKD 55,000, compared to HKD 447,000 in the same period last year[28]. Operating Costs and Expenses - The company's operating costs were HKD 15,242,000, down from HKD 16,854,000 in the same period last year[8]. - Total employee benefits expenses, including director remuneration, amounted to approximately HKD 2,031,000, down from HKD 3,378,000 in the previous year, representing a decrease of about 40.00%[50]. - The company's operating and administrative expenses decreased by approximately 35.18% to about HKD 2,856,000 from HKD 4,406,000 in 2018[45]. Dividends and Shareholder Interests - The group did not recommend the payment of dividends for the three months ended June 30, 2019[4]. - The company did not recommend any dividend for the three months ended June 30, 2019, consistent with the same period in 2018[35]. - As of June 30, 2019, the company’s major shareholder, Ms. He Chaozhen, holds 407,890,000 shares, representing 16.49% of the company’s equity[58]. - Ms. He Chaozhen also has controlled corporation interests amounting to 229,062,500 shares, which is 9.26% of the company’s equity[58]. - The company’s executive, Mr. Huang Jin Hua, holds 20,000,000 shares, representing 0.81% of the company’s equity[58]. - The total equity interest of Ms. He Chaozhen and related parties amounts to approximately 25.60% of the company’s equity[60]. - Major shareholders include Refulgent Sunrise Limited holding 229,062,500 shares (9.26%) and Mr. Zhao Genlong holding 200,000,000 shares (8.09%)[64]. - The company’s major shareholders collectively hold approximately 36% of the company’s equity[64]. Corporate Governance and Compliance - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited condensed consolidated financial statements for the first quarter and found them compliant with applicable accounting standards[71]. - The company has fully complied with the GEM Listing Rules during the review period[70]. - No directors or their associates held any interests in businesses that could significantly compete with the group during the three months ending June 30, 2019[67]. - The company has adopted a code of conduct regarding securities trading by directors, which complies with GEM Listing Rules[68]. - There were no rights granted to directors or their family members to benefit from acquiring shares or debt securities of the company during the reporting period[65]. - The company has not disclosed any other individuals or entities holding interests in its shares or related shares as of June 30, 2019[64]. - The company has established an audit committee to oversee financial reporting and internal controls[71]. Business Strategy and Future Outlook - The company will continue to focus on its core business of providing corporate finance advisory services and dry bulk shipping operations in Hong Kong and China[51]. - The corporate finance advisory division aims to enhance professional expertise to adapt to the rapidly changing capital market and regulatory environment in Hong Kong[51]. - The company plans to increase its exposure in the capital market to strengthen its customer base[51]. - In the dry bulk shipping business, the company will manage operations based on a light asset model and further expand its shareholder base[51]. - The company is actively exploring new business opportunities to increase shareholder wealth and diversify business risks[51]. - The company maintained a conservative financial policy, with all bank deposits held in HKD to minimize foreign exchange risk[46]. - The average number of full-time employees decreased to 21 from 26 in the previous year[50]. - The company experienced a decline in profit margins in its dry bulk shipping business due to reduced customer orders and longer idle times for vessels[42]. - The company will strive to create the best interests for its shareholders[51].