Financial Performance - The Group recorded a turnover of approximately RMB56,489,000 for the nine months ended 30 September 2022, representing an increase of approximately 818.7% compared to RMB6,149,000 for the corresponding period in 2021[6]. - Loss attributable to owners of the Company for the nine months ended 30 September 2022 amounted to approximately RMB6,324,000, a slight improvement from RMB7,654,000 in 2021[7]. - Basic loss per share for the nine months ended 30 September 2022 was RMB0.37, compared to RMB0.44 for the same period in 2021[7]. - Revenue for the three months ended 30 September 2022 was RMB29,426,000, compared to RMB974,000 for the same period in 2021[8]. - The total comprehensive income for the nine months ended 30 September 2022 was RMB5,876,000, a recovery from a loss of RMB7,813,000 in 2021[8]. - The Group reported a profit before income tax of RMB(854,000) for the nine months ended 30 September 2022, compared to a loss of RMB7,959,000 in 2021[8]. - For the three months ended September 30, 2022, the profit attributable to owners of the Company was RMB4,155,000, compared to RMB1,462,000 for the same period in 2021, representing an increase of 184.5%[9]. - The total comprehensive income for the period attributable to owners of the Company was RMB10,126,000 for the three months ended September 30, 2022, compared to RMB3,627,000 in 2021, marking an increase of 178.5%[9]. - Basic and diluted earnings per share for the three months ended September 30, 2022, were RMB0.24, up from RMB0.08 in the same period of 2021, reflecting a 200% increase[9]. - The total comprehensive income for the nine months ended September 30, 2022, was RMB5,693,000, compared to a loss of RMB7,499,000 in 2021, indicating a significant recovery[9]. Revenue and Income Sources - For the three months ended September 30, 2022, the Group's revenue from platform services increased to RMB29,426,000, compared to RMB903,000 in the same period of 2021, representing a growth of 3,157%[35]. - For the nine months ended September 30, 2022, total revenue reached RMB56,325,000, up from RMB5,913,000 in 2021, marking an increase of 876%[35]. - Interest income for the nine months ended September 30, 2022, was RMB164,000, a decrease from RMB236,000 in the same period of 2021[35]. - The Group's bank interest income for the three months ended September 30, 2022, was RMB3,000, compared to RMB1,000 in the same period of 2021[35]. - Revenue from financial service platforms amounted to approximately RMB56.3 million, representing an increase of approximately 852.6%[77]. - Revenue from loan services, finance leasing, and factoring services amounted to approximately RMB164,000, representing a drop of approximately 30.5%[77]. Expenses and Financial Management - Employee benefit expenses for the nine months ended September 30, 2022, totaled RMB5,185,000, down from RMB6,621,000 in 2021, reflecting a decrease of 22%[39]. - Other administrative expenses increased to RMB40,103,000 for the nine months ended 30 September 2022, compared to RMB9,144,000 in 2021[8]. - Administrative and employee benefit expenses increased by approximately 187.3% to approximately RMB45.3 million, due to increased marketing and advertising fees[83]. - Interest expenses decreased by approximately 79.4% to RMB20,000 from RMB97,000 for the corresponding period of last year[78]. Corporate Governance and Compliance - The Group's shares have been suspended from trading on the Hong Kong Stock Exchange since March 29, 2021[11]. - The Company is currently under investigation related to suspected illegal absorption of public deposits, impacting its financial and operational status[16]. - The company has been actively addressing the Resumption Guidance issued by the Stock Exchange, with updates provided on multiple occasions throughout 2021 and 2022[105]. - The company has fulfilled several conditions of the Resumption Guidance, including those related to management integrity and internal controls[109]. - The Audit Committee, comprising five independent non-executive Directors, reviewed the unaudited condensed consolidated results for the nine months ended September 30, 2022, confirming compliance with applicable accounting standards and GEM Listing Rules[191][194]. Corporate Restructuring and Future Outlook - The Group is undergoing a corporate restructuring, with expectations that its business and financial position will improve post-restructuring[96]. - The board believes that the group has sufficient operating funds to fully repay its financial obligations due in the foreseeable future[97]. - The company is focused on ensuring accurate reporting and compliance with the GEM Listing Rules[115]. Share Options and Equity - The total number of shares available for issue under the Share Option Scheme is 173,143,250, which is approximately 10% of the total issued share capital[147]. - The maximum entitlement of each participant under the Share Option Scheme is not exceeding 1% of the issued share capital in any 12-month period[148]. - The Share Option Scheme aims to provide incentives to eligible participants for their contributions to the Group[140]. - A total of 98,000,000 share options were granted to existing directors, employees, and advisors under the Share Option Scheme on January 15, 2018[162]. - The options are structured to incentivize performance based on profit achievements over specified periods[162]. Directors and Shareholding - As of September 30, 2022, the interests of the Directors and chief executive in the company's shares included Mr. Zhang Gongjun with 800,000 shares (0.05%) and Dr. Vincent Cheng and Dr. Miao Bo each with 120,000 shares (0.01%)[124]. - Ming Cheng Investments Limited holds 367,739,567 shares, representing approximately 21.24% of the total shares[132]. - Mr. Zheng Weijing has a total interest of 408,369,769 shares, which is about 23.59% of the total shares[135]. - Sino-Africa Resources Holdings Limited owns 255,676,042 shares, accounting for approximately 14.77% of the total shares[135].

CHARACTERISTICS OF GEM OF THE STOCK EXCHANGE OF HONG KONG LIMITED (THE "STOCK EXCHANGE") GEM has been positioned as a market designed t o a c c o m m o d a t e s m a l l a n d m i d - s i z e d companies to which a higher investment risk may be attached than other companies listed on the Stock Exchange. Prospective investors should be aware of the potential risks of investing in such companies and should make the decision to invest only after due and careful consideration. Given the companies listed on GEM ...

Financial Performance - The Group recorded a turnover of approximately RMB10,365,000 for the three months ended 31 March 2022, representing an increase of approximately 167.9% compared to RMB3,869,000 for the corresponding period in 2021[9]. - Loss attributable to owners of the Company for the three months ended 31 March 2022 amounted to approximately RMB473,000, a decrease from RMB685,000 in 2021[9]. - Basic loss per share for the three months ended 31 March 2022 was RMB0.03 cents, compared to RMB0.04 cents in 2021[9]. - Total comprehensive income for the period attributable to owners of the Company was a loss of RMB4,840,000, compared to a loss of RMB3,429,000 in 2021[11]. - Loss before income tax expense for the period was RMB427,000, compared to RMB793,000 in 2021[10]. - Platform services income contributed RMB10,288,000 to the total revenue for Q1 2022, while interest income decreased to RMB77,000 from RMB3,780,000 in Q1 2021[37]. - The company reported a loss before income tax expense of RMB473,000 for the three months ended March 31, 2022, compared to a loss of RMB685,000 in the same period of 2021[54]. - Basic loss per share for Q1 2022 was RMB0.000273, based on a weighted average of approximately 1,731,433,000 shares, unchanged from the previous year[54]. - Finance costs for the three months ended March 31, 2022, totaled RMB11,000, a decrease from RMB74,000 in the same period of 2021[39]. - Employee benefit expenses decreased to RMB1,816,000 in Q1 2022 from RMB2,931,000 in Q1 2021, a reduction of about 38%[42]. - Other administrative expenses increased to RMB8,967,000 from RMB3,430,000 in 2021[10]. - Revenue from financial service platforms amounted to approximately RMB10.3 million, while revenue from interest income and finance lease service income decreased by approximately 98.0% to approximately RMB77,000[83]. - Interest expenses decreased by approximately 85.1% to RMB11,000 from RMB74,000 for the corresponding period of last year[84]. - Other administrative and employee benefit expenses increased by approximately 69.5% to approximately RMB10.8 million due to higher marketing and advertising fees[90]. Corporate Governance and Compliance - The Group's unaudited condensed consolidated financial statements were prepared in accordance with GEM Listing Rules and Hong Kong Financial Reporting Standards[28]. - The accounting policies used in the preparation of the Group's results are consistent with those adopted in the audited financial statements for the year ended December 31, 2021[29]. - All HKFRSs effective from January 1, 2022, relevant to the Group, have been adopted without significant changes to the Group's results[32]. - The Group has not applied new HKFRSs that have been issued but are not yet effective, and is assessing their potential impact[33]. - The Group is undergoing a corporate restructuring, which is expected to improve its business and financial position upon completion[101]. - The Company is required to conduct an independent investigation into the custody of Mr. Zheng, Ms. Guo, and three employees by the Shenzhen Public Security Bureau[140]. - The Company must demonstrate that there are no reasonable regulatory concerns regarding management integrity that could pose risks to investors[140]. - An Independent Investigation Committee was formed on December 20, 2021, to investigate the custody of certain individuals related to suspected illegal activities, with independent legal advisors engaged for the investigation[146]. - The Remedial Actions Committee found that the Other Board Members were unable to ensure an effective internal control and risk management system within the Group[172]. - The internal audit of the Group was not effectively conducted during the material time, leading to unsatisfactory corporate governance practices[172]. - The Board agreed to implement the Recommendations of the Remedial Actions Committee as soon as practicable following the findings of the investigation[173]. Legal and Regulatory Issues - The Group's assets were seized by the Shenzhen Public Security Bureau, and it is not expected that these seized assets will be returned[24]. - A civil summons has been issued against two previous directors for the repayment of loans totaling RMB 16,306,300[114]. - The outstanding amount related to the illegal absorption of public deposits subject to refund to investors is approximately RMB 680 million[130]. - Mr. Zheng and Ms. Guo, along with three former employees, were convicted of the offence and sentenced to prison terms ranging from 18 months to 7 years, along with monetary penalties[130]. - The Shenzhen branch of China Guangfa Bank obtained a civil judgment requiring Qianhai Flying Financial and Mr. Zheng to settle a joint liability of approximately RMB 12,947,000[131]. - The Group's seized assets include investment properties valued at approximately RMB 47.87 million, unlisted equity securities of about RMB 54.13 million, and financial assets classified at FVTPL worth approximately RMB 128.84 million[120]. - The seized assets are considered pledged in favor of the lenders of the Platform due to illegal absorption of public deposits[125]. - The SZ Nanshan District Court determined that Mr. Zheng was the actual controller of SZ Flying Financial and was responsible for the illegal fundraising activities[126]. - The Group's online financing intermediary business ceased operations in Q4 2019 due to a tightening regulatory environment in China[120]. - The Company did not execute the Guarantee Documents, and the seized assets were not authorized to be pledged by the Company[122]. - The Group's representatives were informed that the seized assets are not expected to be returned[125]. - Mr. Zheng, Ms. Guo, and three employees have been held in custody since December 2020 for investigations related to suspected illegal activities[119]. - The Group's liabilities include joint and several liabilities related to the Loan, with other corporate defendants also involved[119]. - The Company became aware of the Guarantee Documents shortly before March 2021 during an investigation into the Custodies[120]. - Following the receipt of the Delisting Decision, the Board appointed Beijing Dentons Law Offices, LLP to conduct a supplemental independent investigation regarding the Custodies in the PRC, with a report issued on May 17, 2022[165]. Investment and Business Strategy - The Group engages in investment in property development projects and operates a financial services platform primarily in the People's Republic of China[14]. - The Group's investment in property development projects is an extension of its financial solution provider business[64]. - The Group's strategy includes exploring other business opportunities along the real estate development value chain[65]. - The Group is actively seeking investment opportunities in the Guangdong-Hong Kong-Macao Greater Bay Area to enhance the underlying value of urban redevelopment projects[112]. - The Board anticipates that the real estate industry will maintain long-term development momentum due to the stable growth of China's economy and strong housing demand in first and second-tier cities[110]. - The Group's investments cover various locations including Shenzhen, Dongguan, Fujian, Xiangyang, Wuhan, Kunming, Guangdong, and Chongqing, with a focus on urban redevelopment projects[111]. - The Group's investment strategy will be adjusted based on policy changes and market dynamics in different regions[111]. - The Group's efforts in transforming its internet finance business segments have been ongoing since 2021[70]. - The Group aims to mitigate compliance risks and reduce operating costs through business transformation during the industry's downward cycle[60]. - The financial service platform offers financing recommendation services tailored to individuals, SMEs, and property developers[70]. - The Group reported no income generated from property development projects during the review period[66]. Shareholder Information - As of 31 March 2022, Mr. Zhang Gongjun held 800,000 shares, representing approximately 0.05% of the Company[185]. - Dr. Vincent Cheng and Dr. Miao Bo each held 120,000 shares, representing approximately 0.01% of the Company[185]. - No other Directors or chief executives had interests or short positions in the Shares or debentures of the Company as of 31 March 2022[188]. - As of March 31, 2022, Ming Cheng Investments Limited holds 367,739,567 shares, representing approximately 21.24% of total shares[192]. - Mr. Zheng Weijing has a total interest of 408,369,769 shares, which includes 40,630,202 shares directly held and 367,739,567 shares held by Ming Cheng Investments Limited, amounting to approximately 23.59%[192]. - Sino-Africa Resources Holdings Limited holds 255,676,042 shares, accounting for approximately 14.77% of total shares[192]. - Peace Bloom Limited has 145,429,087 shares, representing about 8.40% of total shares[192]. - Upsoar Limited holds 155,518,650 shares, which is approximately 8.98% of total shares[192]. - Mr. Huang Xiguang has a total interest of 255,676,042 shares through Sino-Africa Resources Holdings Limited, representing approximately 14.77%[192]. - Mr. Hu Jinxi holds 22,200,000 shares directly and has a total interest of 167,629,087 shares, including shares held by Peace Bloom Limited, amounting to approximately 9.68%[194]. - Ms. Fu Shanping has a total interest of 155,518,650 shares through Upsoar Limited, representing approximately 8.98%[194]. - Kimberland Credit Limited and Mr. Shi Andong collectively hold 408,369,769 shares, which is approximately 23.59% of total shares[194]. Capital Reorganisation - The Company proposed a Capital Reorganisation involving Share Consolidation, Capital Reduction, and Share Sub-division[178]. - The Company entered into a Subscription Agreement to issue 36,042,067 New Shares at a Subscription Price of HK$0.72 per Share[178]. - A Circular detailing the Capital Reorganisation and related transactions was dispatched to Shareholders on 8 July 2022[179]. - The extraordinary general meeting to discuss the proposed actions is scheduled for 2 August 2022[179].

CHARACTERISTICS OF GEM OF THE STOCK EXCHANGE OF HONG KONG LIMITED (THE "STOCK EXCHANGE") GEM has been positioned as a market designed to accommodate small and mid-sized companies to which a higher investment risk may be attached than other companies listed on the Stock Exchange. Prospective investors should be aware of the potential risks of investing in such companies and should make the decision to invest only after due and careful consideration. Given that the companies listed on GEM are generally small ...

CHARACTERISTICS OF GEM OF THE STOCK EXCHANGE OF HONG KONG LIMITED (THE "STOCK EXCHANGE") GEM has been positioned as a market designed to accommodate small and mid-sized companies to which a higher investment risk may be attached than other companies listed on the Stock Exchange. Prospective investors should be aware of the potential risks of investing in such companies and should make the decision to invest only after due and careful consideration. Given the companies listed on GEM are generally small and m ...

CHARACTERISTICS OF GEM OF THE STOCK EXCHANGE OF HONG KONG LIMITED (THE "STOCK EXCHANGE") GEM has been positioned as a market designed to accommodate small and mid-sized companies to which a higher investment risk may be attached than other companies listed on the Stock Exchange. Prospective investors should be aware of the potential risks of investing in such companies and should make the decision to invest only after due and careful consideration. Given the companies listed on GEM are generally small and m ...

CHARACTERISTICS OF GEM OF THE STOCK EXCHANGE OF HONG KONG LIMITED (THE "STOCK EXCHANGE") GEM has been positioned as a market designed to accommodate small and mid-sized companies to which a higher investment risk may be attached than other companies listed on the Stock Exchange. Prospective investors should be aware of the potential risks of investing in such companies and should make the decision to invest only after due and careful consideration. Given the companies listed on GEM are generally small and m ...

股份代號 Annual Report 年報 2020 CHARACTERISTICS OF GEM OF THE STOCK EXCHANGE OF HONG KONG LIMITED (THE "STOCK EXCHANGE") GEM has been positioned as a market designed to accommodate small and mid-sized companies to which a higher investment risk may be attached than other companies listed on the Stock Exchange. Prospective investors should be aware of the potential risks of investing in such companies and should make the decision to invest only after due and careful consideration. Given that the companies listed ...

股份代號 2020 Third Quarterly Report 第三季度業績報告 CHARACTERISTICS OF GEM OF THE STOCK EXCHANGE OF HONG KONG LIMITED (THE "STOCK EXCHANGE") GEM has been positioned as a market designed to accommodate small and mid-sized companies to which a higher investment risk may be attached than other companies listed on the Stock Exchange. Prospective investors should be aware of the potential risks of investing in such companies and should make the decision to invest only after due and careful consideration. Given the compani ...

Financial Performance - The Group recorded a turnover of approximately RMB 8,869,000 for the six months ended 30 June 2020, representing a decrease of approximately 89.6% compared to RMB 84,976,000 for the same period in 2019[3]. - Loss attributable to owners of the Company for the six months ended 30 June 2020 amounted to approximately RMB 99,152,000, compared to a profit of approximately RMB 32,493,000 in 2019[3]. - Basic loss per share for the six months ended 30 June 2020 was RMB 5.73 cents, down from earnings per share of RMB 1.88 cents in 2019[3]. - Total comprehensive income for the period attributable to owners of the Company was a loss of RMB 99,342,000, compared to a profit of RMB 33,377,000 in 2019[6]. - Revenue for the three months ended June 30, 2020, was RMB 6,359,000, a decrease of 84.8% compared to RMB 42,001,000 for the same period in 2019[31]. - Revenue for the six months ended June 30, 2020, was RMB 8,869,000, a decrease of 89.6% compared to RMB 84,976,000 for the same period in 2019[31]. - Financial consultation services income for the three months ended June 30, 2020, was RMB 3,264,000, down 72.7% from RMB 11,978,000 in 2019[31]. - Interest income for the three months ended June 30, 2020, was RMB 1,738,000, an increase of 172.5% compared to RMB 637,000 in 2019[31]. - Loss before income tax expense for the three months ended June 30, 2020, was RMB 63,950,000, compared to a gain of RMB 684,000 in 2019[39]. - The company reported a net cash used in operating activities of RMB 8,510,000 for the six months ended June 30, 2020, compared to RMB 74,380,000 for the same period in 2019, indicating a significant improvement[19]. Assets and Liabilities - Cash and cash equivalents as of 30 June 2020 were RMB 7,658,000, down from RMB 16,973,000 as of 31 December 2019[10]. - Loans and accounts receivables as of 30 June 2020 totaled RMB 36,905,000, compared to RMB 53,747,000 as of 31 December 2019[10]. - The Group's non-current assets decreased from RMB 643,819,000 as of 31 December 2019 to RMB 99,443,000 as of 30 June 2020[10]. - As of June 30, 2020, the company's net assets decreased to RMB 657,585,000 from RMB 757,229,000 as of December 31, 2019, representing a decline of approximately 13.2%[12]. - The total current liabilities decreased from RMB 84,012,000 to RMB 74,075,000, a reduction of about 11.8%[12]. - The equity attributable to owners of the company decreased from RMB 745,451,000 to RMB 646,109,000, a decline of approximately 13.3%[12]. - The company's current tax liabilities decreased significantly from RMB 29,676,000 to RMB 22,014,000, a reduction of about 25.9%[12]. - The Group's financial assets at fair value through profit or loss amounted to RMB 544,328,000 as of June 30, 2020, a decrease from RMB 625,431,000 as of December 31, 2019[53][55]. - The Group's loans and accounts receivables include various types of financial receivables, indicating a diversified income stream[56]. - The Group's entrusted loan receivables involve loans arranged through banks or financial institutions, highlighting its operational strategy in the lending market[58]. Operational Challenges and Strategies - The Group faced unprecedented challenges during the review period, including the impact of the China-USA trade war and the COVID-19 outbreak, affecting operations due to travel restrictions and social distancing measures[78]. - The Group is committed to mitigating compliance risks and reducing operating costs through business transformation to maintain stable growth during the industry's downward cycle[79]. - The Group focused on developing pipeline property projects in 2020 to cope with the cyclical downturn of the real estate industry[88]. - The Group continued to optimize costs and strengthen internal controls to improve operational efficiency amid the industry's downward trend[99]. - The Group plans to focus on the development of existing property projects to secure a higher safety margin for business operations[123]. - The Group aims to expand its supply chain factoring and financial consultation services, with customized financial arrangements for target customers[127]. - The Group will enhance its fin-tech capabilities to provide technological services and system services to target customers, aiming to consolidate its market position[128]. - The Group will continue to invest in technological research and development to develop systemic solutions for no-contact services in response to changing consumer habits[129]. Shareholder Information - The Directors and management will continue to monitor foreign exchange exposure and consider utilizing derivatives to hedge against exchange risk when necessary[155]. - As of June 30, 2020, Mr. Zheng Weijing holds an equity interest of RMB 71,240,000, representing approximately 70.53% in Huilian Assets Management Company Limited[173]. - Ming Cheng Investments Limited holds 367,739,567 shares, accounting for approximately 21.24% of the total shares[179]. - Ms. Zhang Chushan, spouse of Mr. Zheng Weijing, has an interest in 408,369,769 shares, which is approximately 23.59% of the total shares[179]. - Sino-Africa Resources Holdings Limited, wholly owned by Mr. Huang Xiguang, holds 255,676,042 shares, representing approximately 14.77%[179]. - Peace Bloom Limited, wholly owned by Mr. Hu Jinxi, has an interest in 145,429,087 shares, which is approximately 8.40% of the total shares[179]. - Upsoar Limited, wholly owned by Ms. Fu Shanping, holds 155,518,650 shares, accounting for approximately 8.98%[179]. - As of June 30, 2020, no directors or chief executives had any interests or short positions in the shares or debentures of the company that required disclosure[174]. Employee and Administrative Expenses - Employee benefit expenses for the six months ended 30 June 2020 were RMB 12,980,000, down from RMB 27,032,000 in 2019[5]. - Total staff costs for the six months ended June 30, 2020, were approximately RMB 13.0 million, down from approximately RMB 27.0 million for the same period in 2019[160]. - The Group had a total of 114 staff as of June 30, 2020, down from 158 as of December 31, 2019[160]. - Administrative and employee benefit expenses decreased by approximately 58.9% to about RMB 24.6 million due to tightened expense control[110]. Investment and Development - The Group's investment in property development projects was significantly impacted by the COVID-19 outbreak, leading to a suspension of construction and sales activities[88]. - As of the report date, most of the Group's pipeline property development projects are located in Shenzhen and Dongguan, cities in the Greater Bay Area, which are expected to generate stable returns[89]. - As of June 30, 2020, the Group held investments in property development projects valued at approximately RMB 509,688,000, constituting over 10% of total financial assets at fair value and over 5% of total assets[138]. - The Group's investments in property development projects are spread across various cities, including Shenzhen, Dongguan, and Kunming, with a focus on the Guangdong-Hong Kong-Macao Greater Bay Area[142].