Financial Performance - For the six months ended September 30, 2020, the company reported a revenue of HKD 17,994,000, compared to HKD 14,824,000 for the same period in 2019, representing a year-over-year increase of 21.6%[4] - The gross profit for the period was HKD 196,000, a significant decrease from HKD 3,686,000 in the previous year, indicating a decline of 94.7%[4] - The company incurred a loss before tax of HKD 3,956,000, compared to a loss of HKD 1,733,000 in the same period last year, reflecting an increase in losses of 128.5%[4] - Total comprehensive loss attributable to owners of the company for the period was HKD 3,956,000, compared to HKD 1,839,000 in the previous year, marking an increase of 115.5%[4] - The company reported a loss attributable to owners of the company of HKD 5,714,000 for the six months ended September 30, 2020, compared to a loss of HKD 1,839,000 for the same period in 2019[24] - The group recorded a net loss attributable to the owners of approximately HKD 5.7 million for the period, compared to a loss of HKD 1.8 million for the same period in 2019[48] Cash Flow and Assets - The company reported a net cash outflow from operating activities of HKD 4,794,000, an improvement from HKD 9,000,000 in the prior year[13] - As of September 30, 2020, the company's total assets amounted to HKD 14,770,000, down from HKD 23,082,000 as of March 31, 2020, indicating a decrease of 36.2%[6] - The company's cash and cash equivalents decreased to HKD 1,717,000 from HKD 11,149,000, representing a decline of 84.6%[13] - The total equity attributable to owners of the company was HKD 5,264,000, down from HKD 10,978,000 as of March 31, 2020, reflecting a decrease of 52.0%[6] - As of September 30, 2020, the group's net current assets were approximately HKD 2.9 million, with cash and bank balances of about HKD 1.7 million[49] Operational Highlights - The company has not reported any new product launches or technological advancements during this period[4] - There are no indications of market expansion or mergers and acquisitions in the current report[4] - The company has not declared any interim dividend for the period ended June 30, 2020, consistent with the previous year[22] - The company has no new lease agreements signed during the reporting period, and no acquisitions or disposals of property, plant, and equipment were made[25] - The company has a single operating segment, with all operations conducted in Hong Kong, and all revenue generated from this region[20] Receivables and Payables - Total trade receivables as of September 30, 2020, amounted to HKD 3,832,000, a decrease from HKD 4,650,000 as of March 31, 2020[29] - The company did not provide any credit terms to its customers, with trade receivables aging analysis showing HKD 1,367,000 within 30 days[31] - The company’s total other receivables increased to HKD 7,218,000 as of September 30, 2020, from HKD 3,292,000 in the previous period[27] - The company reported trade payables of HKD 950,000 as of September 30, 2020, with contract liabilities increasing to HKD 3,563,000 from HKD 430,000 as of March 31, 2020[34] Employee and Governance - The group has 28 employees as of September 30, 2020, down from 32 in 2019, with total employee and director remuneration for the period amounting to approximately HKD 9.0 million[51] - The group complied with all corporate governance code provisions during the reporting period, except for the separation of the roles of Chairman and CEO[67] - The group’s independent non-executive directors actively contributed to the board's affairs and promoted a culture of open communication[67] - The company has adopted a standard code of conduct for securities trading, confirming compliance by all directors during the reporting period[75] Legal and Financial Agreements - The company has issued a legal notice to former directors regarding alleged debts totaling HKD 5.8 million, with potential legal actions pending[37] - The company has entered into an unsecured loan agreement with a limit of HKD 10.0 million at an annual interest rate of 12%[37] - As of September 30, 2020, the group had no mortgages arranged with any Hong Kong financial institutions, consistent with the previous year[52] - The group faced minimal foreign exchange risk as its revenue and business costs were primarily denominated in Hong Kong dollars, and no financial instruments were used for hedging[52] Future Outlook and Strategy - The company plans to expand its range of construction-related services to capture new market opportunities and ensure long-term development[42] - The group aims to minimize risk exposure by negotiating with subcontractors, reducing expenses, and closely monitoring receivables due to the uncertain impact of COVID-19[43] Board and Shareholder Information - As of September 30, 2020, Mr. Pan held 194,800,000 shares, representing 46.60% of the voting rights in the company[57] - The group’s major shareholders included Energetic Way Limited, which held 194,800,000 shares, also representing 46.60% of the voting rights[60] - Changes in the board of directors include the appointment of Ms. Chan Yuk-Chan to the remuneration committee on November 2, 2020[76] - The executive directors as of the report date include Mr. Pan Kai-Jie and Ms. Sin Pui-Ying, along with independent non-executive directors[78] Audit and Review - The financial data for the group during this period has not been reviewed or audited by the company's auditor[78] - No major events affecting the group's business or financial performance were reported after the period ending September 30, 2020[54] - The company has not granted any share options since the adoption of the share option scheme on December 12, 2016[63] - No purchases, sales, or redemptions of the company's listed securities were made by the company or its subsidiaries during the reporting period[75]

中國卓銀國際控股有限公司 2020 第一季度 業績報告 香港聯合交易所有限公司（「聯交所」）GEM之特色 GEM 之定位乃為相比起其他在聯交所上市之公司帶有較高投資風險之公司提供一個上市 之市場。有意投資者應了解投資於該等公司之潛在風險，並應經過審慎周詳之考慮後方作 出投資決定。GEM 之較高風險及其他特色意味著GEM 較適合專業及其他資深投資者。 由於GEM 上市公司新興之性質使然，在GEM 買賣之證券可能會較於聯交所主板買賣之證 券承受較大之市場波動風險，同時無法保證在GEM 買賣之證券會有高流通量之市場。 香港交易及結算所有限公司及聯交所對本報告的內容概不負責，對其準確性或完整性亦不 發表任何聲明，並明確表示，概不對因本報告全部或任何部份內容而產生或因倚賴該等內 容而引致的任何損失承擔任何責任。 本報告包括的資料乃遵照GEM 證券上市規則（「GEM 上市規則」）的規定而提供有關中國卓 銀國際控股有限公司（「本公司」）的資料。本公司董事（「董事」）願就本報告共同及個別承 擔全部責任。董事在作出一切合理查詢後確認，就彼等所知及所信，本報告所載的資料在各 重大方面均屬準確完整，且無誤導或欺騙成份，亦無遺漏其他 ...

Financial Performance - The group's revenue for the fiscal year ending March 31, 2020, decreased by approximately HKD 16,000,000 or 34.9% to about HKD 29,800,000[10] - The group reported a gross loss margin of 19.2% for the fiscal year ending March 31, 2020, compared to a gross profit margin of 11.3% for the previous fiscal year[10] - The group confirmed a loss of approximately HKD 34,300,000 for the fiscal year ending March 31, 2020, compared to a loss of about HKD 5,200,000 for the previous fiscal year[11] - The increase in losses was primarily due to a rise in losses from associated companies by approximately HKD 2,500,000 and one-time expenses increasing by about HKD 12,200,000[11] - General and administrative expenses increased by approximately HKD 3,100,000 during the fiscal year ending March 31, 2020[11] - The decrease in revenue was mainly attributed to the completion of a design and construction project in 2019, which did not contribute to revenue in 2020[10] - The company's total revenue for the fiscal year ended March 31, 2020, was approximately HKD 29,800,000, a decrease of HKD 16,000,000 or 34.9% compared to HKD 45,800,000 in the previous year[17] - The net loss attributable to the company's owners for the fiscal year was approximately HKD 34,300,000, an increase of HKD 29,100,000 compared to a loss of HKD 5,200,000 in the previous year[21] - General and administrative expenses totaled approximately HKD 13,600,000, an increase of HKD 3,100,000 or 29.5% from HKD 10,500,000 in the previous year[20] Corporate Governance - The board consists of 2 executive directors and 3 independent non-executive directors, ensuring compliance with GEM listing rules[36] - The company achieved a gender ratio of 40:60 for female to male board members as of March 31, 2020, promoting diversity[44] - The board held 14 meetings during the fiscal year ending March 31, 2020, to review financial performance and strategic decisions[48] - The company has adopted a board diversity policy to enhance performance and ensure sustainable development[39] - All directors confirmed compliance with the trading standards set forth in GEM listing rules for the fiscal year ending March 31, 2020[35] - The company has established appropriate insurance coverage for legal actions against directors[38] - Independent non-executive directors constitute at least one-third of the board, ensuring adherence to financial reporting standards[45] - The company has implemented a continuous professional development plan for directors to keep them informed of operational and regulatory updates[53] - The board is responsible for leading and controlling the company, aiming to maximize long-term shareholder value[47] - The company has a structured approach to evaluate board diversity, considering factors such as gender, age, and professional experience[42] - The company has not adopted the corporate governance code A.2.1, which states that the roles of the chairman and CEO should be separate and clearly defined in writing[56] - Currently, the company does not have a chairman or CEO, with daily operations managed by executive directors and senior management[57] - The audit committee has been established and consists of three independent non-executive directors, with a total of four meetings held in the fiscal year ending March 31, 2020[64] - The nomination committee, also composed of three independent non-executive directors, held one meeting during the fiscal year and reviewed the board's structure and composition[65] - The company has adopted a nomination policy outlining the principles and procedures for selecting and evaluating board candidates[66] - The independent non-executive directors are appointed for an initial term of three years, subject to re-election at the annual general meeting[60] - The executive directors have service contracts without a fixed term, with a notice period of at least three months for termination[59] - The audit committee is responsible for reviewing the company's financial statements and overseeing the financial reporting system[64] - The company plans to elect a new chairman at an appropriate time[58] - The board has established an audit committee, nomination committee, and remuneration committee to maintain high standards of corporate governance[61] - The remuneration committee has reviewed and made recommendations regarding the compensation of the group's directors and senior management for the year ended March 31, 2020[71] - The remuneration committee held one meeting during the year ended March 31, 2020[71] - The board is responsible for establishing and reviewing corporate governance policies and practices[75] - The company has received annual confirmations from certain directors regarding compliance with non-competition agreements, with no violations reported[78] - The board believes that the risk management and internal control systems are adequate and effective as of March 31, 2020[84] - Management provides quarterly financial updates to the board, ensuring timely information on the company's performance and outlook[83] - The company has established a remuneration committee composed of three independent non-executive directors[71] - The board has not identified any significant uncertainties that may cast doubt on the company's ability to continue as a going concern[80] - The company will continue to assess and revise its risk management and internal control systems as necessary[84] Environmental and Social Responsibility - The company is primarily engaged in providing construction consulting services in Hong Kong, with a focus on low energy and resource consumption[98] - The board believes that the group's direct impact on the environment during daily operations is minimal[99] - The company is committed to enhancing environmental protection and fulfilling social responsibilities[99] - The report covers the fiscal year ending March 31, 2020, focusing on the operations related to construction consulting services[102] - The report adheres to the Hong Kong Stock Exchange's guidelines on environmental, social, and governance reporting, emphasizing principles of materiality, quantification, balance, and consistency[103] - The company has engaged an independent consultant, Sejong CPA & Company, to assist in preparing the report[103] - The greenhouse gas emissions from electricity consumption amounted to 44,132 tons of CO2 equivalent for the fiscal year 2020, with a density of 1.48 tons per HKD 29.8 million in operating revenue[111] - Paper consumption reached 316.86 kg for the fiscal year 2020, with a density of 10.63 kg per HKD 29.8 million in operating revenue[111] - The company has implemented energy-saving measures, including maintaining comfortable indoor temperatures and turning off idle lights and equipment[110] - The company has complied with all applicable environmental laws and regulations during the reporting period[109] - The company has not received any significant complaints during the reporting period and has strictly complied with all applicable laws and regulations regarding service quality and safety[131] - The company has implemented anti-corruption procedures and maintains high standards of business ethics, with no recorded cases of corruption during the reporting period[136] - The company is committed to community investment, focusing on supporting reputable non-profit organizations that assist impoverished elderly individuals and improve education for children from low-income families[137] - The company has adhered to environmental performance indicators, including compliance with waste management and resource efficiency policies[145] - The total amount of non-hazardous waste generated is reported as zero, indicating effective waste management practices[145] - The company has implemented energy efficiency plans and has reported compliance with energy consumption metrics[148] - The company has not faced significant issues regarding water usage, indicating effective resource management[148] - The company has taken necessary measures to prevent infringement of its intellectual property rights[131] - The company has complied with employment and labor standards, including policies on compensation, recruitment, and equal opportunities[150] - The company has adhered to health and safety regulations, ensuring a safe working environment for employees[150] - The company has implemented training policies to enhance employee skills and knowledge[150] - The company has established policies to prevent child and forced labor, complying with relevant standards[150] - The company has managed environmental and social risks in its supply chain effectively[150] - The company has policies in place to ensure product safety and compliance with advertising and privacy regulations[153] - The company has adhered to anti-corruption principles, including measures against bribery and fraud[153] - The company is considering developing a future community investment policy to address community needs[153] Future Plans and Development - The company plans to expand its range of construction-related services and actively seek new business opportunities to lay the foundation for long-term development[15] - The company aims to reduce risk exposure by negotiating with subcontractors, cutting costs, and closely monitoring receivables due to the uncertain impact of COVID-19[16] - The company aims to enhance its position in the Hong Kong construction services industry to achieve sustainable business growth and long-term shareholder value[181] - The company plans to improve its order-taking capabilities through investor networks prior to the IPO and by upgrading recruitment plans and computer systems and software[184] - The net proceeds from the placement transactions amount to approximately HKD 25,100,000, with about HKD 2,500,000 allocated for general operating funds, including HKD 900,000 for director remuneration and employee salaries, and HKD 1,600,000 for compliance and professional fees[186] - Approximately HKD 6,500,000 has been used to pay salaries for newly hired employees to support business expansion, and about HKD 5,700,000 has been allocated for the purchase of new properties, factories, and equipment, as well as the development and upgrade of BIM systems[186] - Since the IPO, the company has hired an additional 16 employees to enhance order-taking capabilities[185] - The company is currently developing construction-related systems and other support systems to improve project management and service delivery efficiency, with these systems still in the development phase[185] - The company continues to seek valuable opportunities despite risks associated with general market conditions, including interest rate, political, and supply-demand risks[185] - The board of directors and senior management are committed to providing high-level services to clients[185] - The company plans to maintain the intended use of proceeds as disclosed in the prospectus without any changes[186] - The company has not made any donations during the fiscal year ending March 31, 2020[194] - There are no significant contracts with the controlling shareholder during the fiscal year ending March 31, 2020, apart from those disclosed in the prospectus[194] - The annual general meeting is scheduled for September 25, 2020, with a suspension of share transfer registration from September 22 to September 25, 2020[199] - The company’s directors and senior management hold a total of 194,800,000 shares, representing approximately 46.60% of the issued share capital[200] - Energetic Way Limited, controlled by the directors, holds 196,000,000 shares, with each director owning 50%[200] - Both directors have a beneficial interest in 2 shares of Energetic Way Limited, representing 100% ownership[200]

Financial Performance - For the three months ended December 31, 2019, the company reported a revenue of HKD 7,121,000, a decrease of 37.5% compared to HKD 11,466,000 in the same period of 2018[5] - The gross loss for the three months ended December 31, 2019, was HKD 3,342,000, compared to a gross profit of HKD 3,165,000 in the same period of 2018[5] - The loss before tax for the three months ended December 31, 2019, was HKD 16,945,000, compared to a profit before tax of HKD 1,127,000 in the same period of 2018[5] - The net loss attributable to owners of the company for the three months ended December 31, 2019, was HKD 16,839,000, compared to a profit of HKD 758,000 in the same period of 2018[5] - For the nine months ended December 31, 2019, the total comprehensive loss was HKD 18,678,000, compared to a total comprehensive income of HKD 1,988,000 in the same period of 2018[5] - Total revenue for the nine months ended December 31, 2019, was approximately HKD 21,900,000, a decrease of HKD 20,100,000 or 47.9% compared to HKD 42,000,000 for the same period in 2018[27] - The company recorded a net loss attributable to owners of approximately HKD 18,700,000 for the nine months ended December 31, 2019, compared to a profit of HKD 2,000,000 in 2018[32] Expenses - The company incurred an administrative expense of HKD 13,475,000 for the three months ended December 31, 2019, significantly higher than HKD 2,112,000 in the same period of 2018[5] - Administrative expenses for the nine months ended December 31, 2019, totaled approximately HKD 18,600,000, an increase from HKD 7,300,000 in 2018, mainly due to provisions for bad debts[28] - The income tax expense for the nine months ended December 31, 2019, was approximately zero, a decrease from HKD 1,000,000 in 2018, consistent with the reduction in taxable profits[31] Shareholder Information - As of December 31, 2019, the company had 418,000,000 shares issued, with Energetic Way Limited holding 194,800,000 shares, representing 46.60% of the issued share capital[45][49] - Major shareholder Kuo Yueh Hsien held 83,624,000 shares, accounting for 20.01% of the issued share capital as of December 31, 2019[47] - The board of directors and senior management had no other recorded interests in shares or related securities as of December 31, 2019[51] Corporate Governance - The company is committed to high standards of corporate governance to protect shareholder interests and enhance corporate value[63] - The company has complied with the corporate governance code provisions, except for the separation of roles between the chairman and the chief executive officer as required by the code[65] - The audit committee, composed of three independent non-executive directors, has reviewed the unaudited consolidated results for the nine months ending December 31, 2019, ensuring compliance with applicable accounting standards and legal requirements[67] Business Operations - The company primarily engages in providing comprehensive construction and structural engineering consultancy services[10] - The company plans to expand its business scope and service coverage to establish a foundation for long-term development, despite challenges posed by recent social events and the coronavirus outbreak[24] - The company has been awarded contracts totaling HKD 22,000,000, but the projects are currently suspended, impacting revenue recognition[24] Financial Position - The total equity of the company as of December 31, 2019, was HKD 26,634,000, down from HKD 52,455,000 as of December 31, 2018[7] - As of December 31, 2019, the company's current assets net value was approximately HKD 19,400,000, down from HKD 39,900,000 as of March 31, 2019[33] - The current ratio as of December 31, 2019, was approximately 2.7 times, a decrease from 9.4 times as of March 31, 2019[33] Stock Options and Securities - The maximum number of shares that can be issued under the stock option plan is 41,800,000 shares, accounting for approximately 10% of the company's issued share capital as of the plan's adoption date[55] - The total number of shares issued and to be issued due to the exercise of stock options within any twelve-month period cannot exceed 1% of the total issued shares at that time[56] - As of the report date, the company has not granted any stock options since the adoption of the plan[57] - The company has not purchased, sold, or redeemed any listed securities during the nine months ending December 31, 2019[62] Risk Management - The group reported minimal foreign exchange risk as its revenue and business costs are primarily denominated in HKD, leading to no hedging financial instruments being utilized[37] - As of December 31, 2019, there were no significant contingent liabilities noted by the directors[38] - The group had no mortgages arranged with any financial institutions in Hong Kong as of December 31, 2019, consistent with the previous year[36] Employee Compensation - Total employee and director compensation for the nine months ended December 31, 2019, was approximately HKD 14,000,000, showing a slight increase from HKD 13,800,000 in 2018[34] Dividends - The company does not recommend the payment of an interim dividend for the nine months ended December 31, 2019[20]

[Report Overview](index=1&type=section&id=Report%20Overview) [GEM Characteristics and Disclaimer](index=2&type=section&id=GEM%20Characteristics%20and%20Disclaimer) This report highlights the GEM market as a listing platform for high-risk small and medium-sized companies, urging investors to consider potential risks, with HKEX disclaiming responsibility for the report's content - The GEM market is positioned as a listing platform for high-investment-risk small and medium-sized companies, requiring investors to understand potential risks[2](index=2&type=chunk) - Hong Kong Exchanges and Clearing Limited is not responsible for the content of this report and makes no statement as to its accuracy or completeness[2](index=2&type=chunk) [Directors' Report](index=2&type=section&id=Directors%27%20Report) The Board confirms the accuracy and completeness of this interim report, presenting the unaudited condensed consolidated results for the six months ended September 30, 2019, showing a shift from profit to loss - The Directors confirm that the information in this report is accurate and complete in all material respects, with no misleading or fraudulent content[3](index=3&type=chunk) Comparison of (Loss) / Earnings Per Share | Metric | Six Months Ended September 30, 2019 | Six Months Ended September 30, 2018 | | :-------------------------- | :---------------------------------- | :---------------------------------- | | (Loss) / Earnings Per Share | **(0.47) HK cents** | **0.03 HK cents** | [Condensed Consolidated Financial Statements](index=3&type=section&id=Condensed%20Consolidated%20Financial%20Statements) [Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=3&type=section&id=Condensed%20Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) For the six months ended September 30, 2019, the Group shifted from a profit to a loss compared to the prior period, primarily due to a significant decrease in revenue leading to reduced gross profit Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income (Six Months Ended September 30) | Metric | 2019 (HK$'000) | 2018 (HK$'000) | | :---------------------------------------------------------- | :------------- | :------------- | | Revenue | 14,824 | 30,557 | | Cost of services provided | (11,138) | (23,647) | | Gross profit | 3,686 | 6,910 | | Other income | 147 | 179 | | General and administrative expenses | (5,566) | (5,237) | | (Loss) / Profit before tax | (1,733) | 1,852 | | Income tax (expense) / recoverable | (106) | (622) | | (Loss) / Profit for the period attributable to owners of the Company | (1,839) | 1,230 | [Condensed Consolidated Statement of Financial Position](index=4&type=section&id=Condensed%20Consolidated%20Statement%20of%20Financial%20Position) As of September 30, 2019, the Group's net current assets and total equity both decreased, primarily impacted by an increase in trade and other payables Condensed Consolidated Statement of Financial Position (As of September 30) | Metric | 2019 (HK$'000) | March 31, 2019 (HK$'000) | | :-------------------------------------- | :------------- | :----------------------- | | Non-current assets | 12,654 | 10,482 | | Current assets | 47,102 | 44,627 | | Current liabilities | 11,257 | 4,771 | | Net current assets | 35,845 | 39,856 | | Total assets less current liabilities | 48,499 | 50,338 | | Non-current liabilities | 5,026 | 5,026 | | Net assets | 43,473 | 45,312 | | Equity attributable to owners of the Company | 43,473 | 45,312 | [Condensed Consolidated Statement of Changes in Equity](index=5&type=section&id=Condensed%20Consolidated%20Statement%20of%20Changes%20in%20Equity) For the six months ended September 30, 2019, total equity attributable to owners of the Company decreased due to a loss for the period, contrasting with an increase from profit in the prior year Condensed Consolidated Statement of Changes in Equity (Six Months Ended September 30) | Metric | 2019 (HK$'000) | 2018 (HK$'000) | | :---------------------------------------------------------- | :------------- | :------------- | | Total at beginning of period | 45,312 | 50,467 | | (Loss) and total comprehensive income for the period | (1,839) | 1,230 | | Total at end of period | 43,473 | 51,697 | [Condensed Consolidated Statement of Cash Flows](index=6&type=section&id=Condensed%20Consolidated%20Statement%20of%20Cash%20Flows) For the six months ended September 30, 2019, the Group's net cash outflow from operating activities increased, leading to a larger net decrease in cash and cash equivalents Condensed Consolidated Statement of Cash Flows (Six Months Ended September 30) | Metric | 2019 (HK$'000) | 2018 (HK$'000) | | :---------------------------------------- | :------------- | :------------- | | Net cash (used in) operating activities | (9,000) | (8,412) | | Net cash (used in) investing activities | – | (810) | | Net cash from financing activities | – | 5,000 | | Net (decrease) in cash and cash equivalents | (9,000) | (4,222) | | Cash and cash equivalents at beginning of period | 29,419 | 44,831 | | Cash and cash equivalents at end of period | 20,419 | 40,609 | [Notes to the Condensed Consolidated Financial Statements](index=7&type=section&id=Notes%20to%20the%20Condensed%20Consolidated%20Financial%20Statements) [General Information](index=7&type=section&id=General%20Information) China Choyin International Holdings Limited, incorporated in the Cayman Islands, listed on GEM of HKEX on December 12, 2016, primarily provides comprehensive architectural and structural engineering consultancy services - The Company was incorporated on July 29, 2015, under the Companies Law of the Cayman Islands and listed on GEM of HKEX on December 12, 2016[20](index=20&type=chunk) - The Group is principally engaged in the provision of comprehensive architectural and structural engineering consultancy services[21](index=21&type=chunk) [Basis of Preparation and Principal Accounting Policies](index=7&type=section&id=Basis%20of%20Preparation%20and%20Principal%20Accounting%20Policies) The Group's financial statements are prepared in accordance with HKFRS and GEM Listing Rules, using the historical cost convention and presented in HKD, with management judgments, estimates, and assumptions made during preparation - The unaudited condensed consolidated financial statements are prepared in accordance with all applicable Hong Kong Financial Reporting Standards issued by the HKICPA and the disclosure requirements of the GEM Listing Rules[22](index=22&type=chunk) - The unaudited condensed consolidated financial statements are prepared on the historical cost basis and presented in Hong Kong dollars[24](index=24&type=chunk)[25](index=25&type=chunk) [Segment Reporting](index=8&type=section&id=Segment%20Reporting) The Group operates in a single business segment with all operations and revenue derived from Hong Kong, thus no geographical analysis is presented - The Group has only one operating segment, and management reviews the Group's overall results and financial position as a whole[25](index=25&type=chunk) - All of the Group's business and revenue are conducted in Hong Kong[26](index=26&type=chunk) [Revenue](index=8&type=section&id=Revenue) Revenue primarily stems from comprehensive architectural and structural engineering consultancy services, including licensing, alteration and addition works, minor works consultancy, inspection, and certification - Revenue represents contract revenue from the provision of comprehensive architectural and structural engineering consultancy services[26](index=26&type=chunk) [Income Tax Expense](index=9&type=section&id=Income%20Tax%20Expense) For the six months ended September 30, 2019, Hong Kong profits tax provision was **HK$106 thousand**, a significant decrease from the prior period, consistent with reduced taxable profit Income Tax Expense (Six Months Ended September 30) | Metric | 2019 (HK$'000) | 2018 (HK$'000) | | :-------------------------------------- | :------------- | :------------- | | Provision for Hong Kong profits tax for the period | 106 | 622 | [Dividends](index=9&type=section&id=Dividends) The Company's directors do not recommend paying an interim dividend for the six months ended September 30, 2019, consistent with the prior period - The directors of the Company do not recommend the payment of an interim dividend for the six months ended September 30, 2019 (2018: nil)[30](index=30&type=chunk) [(Loss) / Earnings Per Share](index=9&type=section&id=%28Loss%29%20%2F%20Earnings%20Per%20Share) For the six months ended September 30, 2019, basic and diluted loss per share attributable to owners of the Company was **0.47 HK cents**, compared to a profit of **0.03 HK cents** in the prior period, with no diluted earnings due to no potential ordinary shares issued Calculation of (Loss) / Earnings Per Share (Six Months Ended September 30) | Metric | 2019 (HK$'000) | 2018 (HK$'000) | | :---------------------------------------------------------- | :------------- | :------------- | | (Loss) / Profit for the period attributable to owners of the Company | (1,839) | 1,230 | | Weighted average number of ordinary shares | 418,000,000 | 418,000,000 | - As there were no potential ordinary shares in issue during the period, diluted earnings per share for the six months ended September 30, 2019 and 2018 were not presented[35](index=35&type=chunk) [Property, Plant and Equipment](index=10&type=section&id=Property%2C%20Plant%20and%20Equipment) As of September 30, 2019, the Group's carrying amount of property, plant and equipment decreased from March 31, 2019, primarily due to depreciation expenses during the period Carrying Amount of Property, Plant and Equipment | Metric | September 30, 2019 (HK$'000) | March 31, 2019 (HK$'000) | | :----------------------------------- | :--------------------------- | :----------------------- | | Carrying amount of property, plant and equipment | 1,123 | 1,451 | [Interests in an Associate](index=11&type=section&id=Interests%20in%20an%20Associate) The Group holds a **49%** effective interest in associate Jian An, whose principal business is interior design, renovation, and building engineering, but the associate had not commenced operations during the period - The Group holds a **49%** effective interest in associate Jian An, whose principal business is interior design, renovation, and building engineering[40](index=40&type=chunk) - The associate, Jian An, had not commenced operations during the period[40](index=40&type=chunk) [Trade and Other Receivables](index=11&type=section&id=Trade%20and%20Other%20Receivables) As of September 30, 2019, total trade and other receivables increased to **HK$17,713 thousand** from March 31, 2019, with trade receivables over 180 days decreasing, but those between 91 and 180 days significantly increasing Total Trade and Other Receivables | Metric | September 30, 2019 (HK$'000) | March 31, 2019 (HK$'000) | | :---------------------------- | :--------------------------- | :----------------------- | | Total trade and other receivables | 17,713 | 6,611 | Ageing Analysis of Trade Receivables (As of September 30) | Ageing | 2019 (HK$'000) | March 31, 2019 (HK$'000) | | :------------ | :------------- | :----------------------- | | Within 30 days | 1,541 | 785 | | 31 to 60 days | 918 | 550 | | 61 to 90 days | 415 | 336 | | 91 to 180 days| 2,744 | 433 | | Over 180 days | 411 | 1,650 | | **Total** | **6,029** | **3,754** | [Cash and Cash Equivalents](index=12&type=section&id=Cash%20and%20Cash%20Equivalents) As of September 30, 2019, the Group's cash and cash equivalents decreased to **HK$20,419 thousand** from **HK$29,419 thousand** as of March 31, 2019 Cash and Cash Equivalents (As of September 30) | Metric | September 30, 2019 (HK$'000) | March 31, 2019 (HK$'000) | | :----------------- | :--------------------------- | :----------------------- | | Cash at bank | 20,413 | 29,405 | | Cash on hand | 6 | 14 | | **Total** | **20,419** | **29,419** | [Trade and Other Payables](index=13&type=section&id=Trade%20and%20Other%20Payables) As of September 30, 2019, accrued expenses and other payables significantly increased to **HK$11,151 thousand**, leading to a substantial rise in total trade and other payables Trade and Other Payables (As of September 30) | Metric | September 30, 2019 (HK$'000) | March 31, 2019 (HK$'000) | | :---------------------------- | :--------------------------- | :----------------------- | | Trade payables | – | – | | Accrued expenses and other payables | 11,151 | 552 | | **Total** | **11,151** | **552** | [Share Capital](index=13&type=section&id=Share%20Capital) As of September 30, 2019, the Company's authorized share capital was **HK$20,000,000**, with issued and fully paid share capital of **HK$4,180,000** at **HK$0.01** par value per share, maintaining a consistent number of shares Share Capital Structure (As of September 30) | Metric | Number of Shares | HK$ | | :------------------------- | :--------------- | :--------- | | Authorized share capital | 2,000,000,000 | 20,000,000 | | Issued and fully paid share capital | 418,000,000 | 4,180,000 | [Management Discussion and Analysis](index=14&type=section&id=Management%20Discussion%20and%20Analysis) [Business Review and Outlook](index=14&type=section&id=Business%20Review%20and%20Outlook) The Group primarily provides architectural and structural engineering consultancy services, focusing on existing clients and seeking to expand service offerings, with future plans to broaden business scope and service coverage, though near-term performance is expected to be impacted by market conditions and the economic-political environment - The Group is principally engaged in the provision of comprehensive architectural and structural engineering consultancy services, focusing on developing business opportunities from existing and referred clients[50](index=50&type=chunk) - The Group plans to expand its business scope and service coverage to capture new market opportunities[50](index=50&type=chunk) - Due to current market conditions and the economic and political environment, the Group expects its near-term performance to be severely affected[50](index=50&type=chunk) [Financial Review](index=14&type=section&id=Financial%20Review) Financial performance significantly deteriorated this period, with substantial declines in revenue and profit for the period, gross profit margin improved but faces maintenance challenges, and administrative expenses increased due to provisions and legal fees [Revenue](index=14&type=section&id=Revenue) For the six months ended September 30, 2019, total revenue was approximately **HK$14.8 million**, a **51.5%** decrease from the prior period, mainly due to reduced revenue contribution from completed design and build projects Revenue Comparison (Six Months Ended September 30) | Metric | 2019 (HK$ million) | 2018 (HK$ million) | Change (HK$ million) | Change (%) | | :----- | :----------------- | :----------------- | :------------------- | :--------- | | Revenue | 14.8 | 30.6 | (14.8) | (51.5%) | - The decrease in revenue was primarily due to the completion of design and build projects announced on July 18, 2017, leading to a reduced revenue contribution in the current period[51](index=51&type=chunk) [Gross Profit Margin](index=15&type=section&id=Gross%20Profit%20Margin) Gross profit margin increased from approximately **22.6%** in the prior period to approximately **24.9%** this period, mainly due to reduced revenue contribution from lower-margin design and build projects; however, deteriorating economic conditions may challenge future margin maintenance Gross Profit Margin Comparison (Six Months Ended September 30) | Metric | 2019 | 2018 | | :-------------- | :---- | :---- | | Gross Profit Margin | 24.9% | 22.6% | - The increase in gross profit margin was mainly due to the reduced revenue contribution from design and build projects, which have lower gross profit margins[53](index=53&type=chunk) - The Group expects to face challenges in maintaining its gross profit margin, as deteriorating economic conditions may lead to service price reductions and an inability to cut costs in the short term[53](index=53&type=chunk) [Administrative Expenses](index=15&type=section&id=Administrative%20Expenses) Total administrative expenses increased to approximately **HK$5.6 million**, primarily due to provisions for unrecovered trade and other receivables, and increased legal and compliance expenses related to recent bond events Administrative Expenses Comparison (Six Months Ended September 30) | Metric | 2019 (HK$ million) | 2018 (HK$ million) | | :------------------- | :----------------- | :----------------- | | Administrative Expenses | 5.6 | 5.2 | - The increase in administrative expenses was mainly due to provisions made for unrecovered trade and other receivables, and increased legal and compliance expenses related to the recently announced alleged bond incident[54](index=54&type=chunk) [Income Tax Expense](index=15&type=section&id=Income%20Tax%20Expense) Income tax expense decreased to approximately **HK$0.1 million**, consistent with the Group's reduced taxable profit Income Tax Expense Comparison (Six Months Ended September 30) | Metric | 2019 (HK$ million) | 2018 (HK$ million) | | :--------------- | :----------------- | :----------------- | | Income Tax Expense | 0.1 | 0.6 | - The decrease in income tax expense was consistent with the Group's reduced taxable profit[55](index=55&type=chunk) [Profit for the Period](index=15&type=section&id=Profit%20for%20the%20Period) The Group recorded a net loss attributable to owners of the Company of approximately **HK$1.8 million**, compared to a profit of **HK$1.2 million** in the prior period, primarily due to decreased revenue and gross profit Profit for the Period Comparison (Six Months Ended September 30) | Metric | 2019 (HK$ million) | 2018 (HK$ million) | | :-------------------------- | :----------------- | :----------------- | | (Loss) / Profit for the period | (1.8) | 1.2 | - The loss for the period was mainly due to the decrease in revenue recognized and gross profit generated during the period[56](index=56&type=chunk) [Liquidity, Financial Resources and Capital Structure](index=15&type=section&id=Liquidity%2C%20Financial%20Resources%20and%20Capital%20Structure) As of September 30, 2019, the Group's net current assets and cash balance both decreased, with the current ratio falling from **9.4 times** to **4.2 times**, primarily due to increased other payables, and total equity also reduced Liquidity and Financial Resources Comparison (As of September 30) | Metric | September 30, 2019 (HK$ million) | March 31, 2019 (HK$ million) | | :----------------------- | :------------------------------- | :--------------------------- | | Net current assets | 35.8 | 39.9 | | Cash | 20.4 | 29.4 | | Current ratio | 4.2 times | 9.4 times | | Total equity | 43.5 | 45.3 | - The decrease in the current ratio was mainly due to an increase in the balance of other payables as of September 30, 2019, compared to March 31, 2019[57](index=57&type=chunk) [Employee Information](index=16&type=section&id=Employee%20Information) For the six months ended September 30, 2019, total staff and directors' remuneration was approximately **HK$8.3 million**, remaining relatively stable, with remuneration policy based on performance, qualifications, experience, and market conditions Total Staff and Directors' Remuneration Comparison (Six Months Ended September 30) | Metric | 2019 (HK$ million) | 2018 (HK$ million) | | :------------------------------ | :----------------- | :----------------- | | Total staff and directors' remuneration | 8.3 | 8.6 | - The Group's remuneration policy is formulated based on individual employee's performance, qualifications, and experience, with reference to current market conditions[59](index=59&type=chunk) [Pledge of the Group's Assets](index=16&type=section&id=Pledge%20of%20the%20Group%27s%20Assets) As of September 30, 2019, the Group had no asset pledges arranged with any Hong Kong financial institutions - As of September 30, 2019, the Group had no pledges arranged with any Hong Kong financial institutions (2018: nil)[60](index=60&type=chunk) [Foreign Exchange Risk](index=16&type=section&id=Foreign%20Exchange%20Risk) The Group's revenue and cost of business are primarily denominated in Hong Kong dollars, resulting in minimal foreign exchange fluctuation risk, and no financial instruments are used for hedging - The Group's revenue and cost of business are primarily denominated in Hong Kong dollars, thus the Group's foreign exchange fluctuation risk is minimal[61](index=61&type=chunk) - The Group has not used any financial instruments for hedging purposes[61](index=61&type=chunk) [Contingent Liabilities](index=16&type=section&id=Contingent%20Liabilities) As of the end of the reporting period and the date of this report's publication, the Directors were not aware of any significant contingent liabilities - As of the six months ended September 30, 2019, and up to the date of publication of the Company's results announcement and interim report, the Directors were not aware of any significant contingent liabilities[62](index=62&type=chunk) [Events After the Reporting Period](index=16&type=section&id=Events%20After%20the%20Reporting%20Period) As of the date of this report's publication, the Directors were not aware of any other significant events concerning the Group's business or financial performance subsequent to the period ended September 30, 2019 - As of the date of publication of the Company's results announcement and interim report, the Directors were not aware of any other significant events concerning the Group's business or financial performance subsequent to the period ended September 30, 2019[63](index=63&type=chunk) [Use of Proceeds](index=16&type=section&id=Use%20of%20Proceeds) Net proceeds from the GEM listing, approximately **HK$25.1 million**, were partially used for general working capital, staff salaries, professional fees, equipment acquisition, and BIM system development, with the remaining **HK$13.3 million** deposited in bank accounts; the Directors do not intend to change the uses disclosed in the prospectus - Net proceeds from the GEM listing were approximately **HK$25.1 million**, of which approximately **HK$2.5 million** was used for the Group's general working capital[64](index=64&type=chunk) - Approximately **HK$4.3 million** was used to pay salaries for staff recruited after listing, approximately **HK$2.5 million** for the acquisition of new property, plant and equipment, and approximately **HK$2.5 million** for the development of the BIM system[64](index=64&type=chunk) - The remaining **HK$13.3 million** has been deposited into the Company's bank accounts, and the Directors do not intend to change the proposed use of proceeds as disclosed in the prospectus[64](index=64&type=chunk) [Other Information](index=17&type=section&id=Other%20Information) [Directors' and Chief Executive's Interests and Short Positions in Shares, Underlying Shares and Debentures](index=17&type=section&id=Directors%27%20and%20Chief%20Executive%27s%20Interests%20and%20Short%20Positions%20in%20Shares%2C%20Underlying%20Shares%20and%20Debentures) As of September 30, 2019, Mr. Poon Kai Kit and his spouse Ms. Chan Ka Yee held a **46.60%** long position in the Company's shares through their controlled corporation, Energetic Way Limited, and each beneficially owned shares in Energetic Way Limited Directors' Long Positions in Shares and Underlying Shares (As of September 30) | Name of Director | Capacity/Nature of Interest | Number of Shares Held | Approximate Percentage of Issued Share Capital | | :--------------- | :-------------------------- | :-------------------- | :--------------------------------------------- | | Mr. Poon Kai Kit | Interest in a controlled corporation | 194,800,000 shares | 46.60% | | Ms. Chan Ka Yee | Interest in a controlled corporation | 194,800,000 shares | 46.60% | Directors' Long Positions in Ordinary Shares of Energetic Way Limited (As of September 30) | Name of Director | Capacity/Nature of Interest | Number of Shares Held | Approximate Percentage of Issued Share Capital | | :--------------- | :-------------------------- | :-------------------- | :--------------------------------------------- | | Mr. Poon Kai Kit | Beneficial interest/Interest of spouse | 2 shares | 100% | | Ms. Chan Ka Yee | Beneficial interest/Interest of spouse | 2 shares | 100% | - Mr. Poon Kai Kit and Ms. Chan Ka Yee are deemed to be interested in the shares held by Energetic Way Limited, as Energetic Way Limited is controlled by them[68](index=68&type=chunk) [Substantial Shareholders' Interests and Short Positions in Shares and Underlying Shares](index=19&type=section&id=Substantial%20Shareholders%27%20Interests%20and%20Short%20Positions%20in%20Shares%20and%20Underlying%20Shares) As of September 30, 2019, substantial shareholder Energetic Way Limited held a **46.60%** long position in the Company's shares, and Ko Ngok Yin held a **20.01%** long position Substantial Shareholders' Interests and Short Positions in Shares and Underlying Shares (As of September 30) | Name | Capacity/Nature of Interest | Number of Shares Held | Approximate Percentage of Issued Share Capital | | :-------------------- | :-------------------------- | :-------------------- | :--------------------------------------------- | | Energetic Way Limited | Beneficial interest | 194,800,000 shares | 46.60% | | Ko Ngok Yin | Beneficial interest | 83,624,000 shares | 20.01% | - Energetic Way Limited is legally and beneficially owned by Mr. Poon and his spouse Ms. Chan, thus Mr. Poon and Ms. Chan are deemed to be interested in the shares held by it[72](index=72&type=chunk) [Other Disclosable Interests Under the SFO](index=20&type=section&id=Other%20Disclosable%20Interests%20Under%20the%20SFO) Aside from the disclosed interests of Directors and substantial shareholders, to the best of the Directors' knowledge, no other persons held interests or short positions in shares and underlying shares disclosable under Chapter 18 of the GEM Listing Rules - Save as disclosed above, to the best knowledge of the Directors, no other persons had interests or short positions in the shares and underlying shares disclosable under Chapter 18 of the GEM Listing Rules[76](index=76&type=chunk) [Share Option Scheme](index=20&type=section&id=Share%20Option%20Scheme) The Company has adopted a Share Option Scheme to grant options to eligible participants to subscribe for Company shares, effective from December 12, 2016, for ten years, with subscription prices determined by the Board, and no options granted as of this report date - The Share Option Scheme aims to enable the Company to grant share options to any eligible participant whom the Board, in its absolute discretion, considers to have contributed or may contribute to the Group[77](index=77&type=chunk) - The scheme became effective on December 12, 2016, and is valid for ten years[77](index=77&type=chunk) - As of the date of this report and since the adoption of the scheme, no share options have been granted by the Company[81](index=81&type=chunk) [Rights to Acquire Shares or Debentures](index=21&type=section&id=Rights%20to%20Acquire%20Shares%20or%20Debentures) Save for the disclosed interests of Directors and Chief Executive and the Share Option Scheme, for the six months ended September 30, 2019, neither the Company nor its subsidiaries participated in any arrangements enabling Directors to benefit from acquiring shares or debentures of the Company or any other body corporate - For the six months ended September 30, 2019, neither the Company nor any of its subsidiaries was a party to any arrangement to enable the Directors to acquire benefits by means of the acquisition of shares in, or debentures of, the Company or any other body corporate[82](index=82&type=chunk) [Competing Interests](index=22&type=section&id=Competing%20Interests) As of September 30, 2019, no Directors, substantial shareholders, or their respective associates held any interests in businesses that directly or indirectly compete or may compete with the Group's business - As of September 30, 2019, none of the Directors, substantial shareholders, and their respective associates had any interests in any business that competes or may compete, either directly or indirectly, with the business of the Group[85](index=85&type=chunk) [Directors' Securities Transactions](index=22&type=section&id=Directors%27%20Securities%20Transactions) The Company has adopted the required standard of dealings set out in the GEM Listing Rules as the code of conduct for Directors' securities transactions, and all Directors confirmed compliance during the reporting period - The Company has adopted the required standard of dealings as set out in Rules 5.48 to 5.67 of the GEM Listing Rules as the code of conduct for Directors' dealings in the Company's securities[86](index=86&type=chunk) - Each of the Directors has confirmed that they have complied with the required standard of dealings throughout the six months ended September 30, 2019[86](index=86&type=chunk) [Purchase, Sale or Redemption of Shares](index=22&type=section&id=Purchase%2C%20Sale%20or%20Redemption%20of%20Shares) For the six months ended September 30, 2019, neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's listed securities - For the six months ended September 30, 2019, neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's listed securities[87](index=87&type=chunk) [Compliance with Corporate Governance Code](index=22&type=section&id=Compliance%20with%20Corporate%20Governance%20Code) The Company is committed to high standards of corporate governance and confirmed compliance with the Corporate Governance Code during the reporting period; despite no CEO position, the Board believes its operations ensure a balanced distribution of power and authority - The Company has complied with the code provisions in the Corporate Governance Code[88](index=88&type=chunk) - The Company has not established the position of chief executive officer, with daily operations and management overseen by the executive Directors and senior management[91](index=91&type=chunk) - The Board believes that despite the absence of a chief executive officer, its operations ensure a balanced distribution of power and authority[91](index=91&type=chunk) [Audit Committee](index=23&type=section&id=Audit%20Committee) The Company has established an Audit Committee, comprising three independent non-executive Directors, responsible for reviewing and overseeing financial reporting, internal controls, and risk management systems, and has reviewed the unaudited consolidated results for the current period - The Audit Committee comprises three independent non-executive Directors, with Mr. Lee Pui Chung as chairman[92](index=92&type=chunk) - The primary duties of the Audit Committee are to review and supervise the Company's financial reporting process and the Group's internal control and risk management systems[92](index=92&type=chunk) - The Audit Committee has reviewed the Group's unaudited consolidated results for the six months ended September 30, 2019, and considers them to be in compliance with applicable accounting standards and Listing Rules requirements[92](index=92&type=chunk)

Financial Performance - Revenue for the three months ended June 30, 2019, was HKD 7,135,000, a decrease of 50.8% compared to HKD 14,490,000 for the same period in 2018[5] - Gross profit for the same period was HKD 2,704,000, down 29.5% from HKD 3,836,000 year-on-year[5] - Profit before tax decreased to HKD 254,000, a decline of 81.8% from HKD 1,396,000 in the previous year[5] - Net profit attributable to owners of the company was HKD 125,000, down 88.5% from HKD 1,083,000 in the same quarter of 2018[5] - Basic and diluted earnings per share were 0.03 cents, compared to 0.26 cents for the same period last year[5] - Total comprehensive income for the period was HKD 125,000, significantly lower than HKD 1,083,000 in the same quarter of 2018[5] Expenses and Assets - Administrative expenses were HKD 2,524,000, slightly decreased from HKD 2,546,000 in the previous year[5] - As of June 30, 2019, the company's current assets net amounted to approximately HKD 41.2 million, up from HKD 29.9 million as of March 31, 2019[32] - The income tax expense for the three months ended June 30, 2019, was approximately HKD 0.1 million, a decrease from HKD 0.3 million in 2018[30] - The company reported a total equity of HKD 45,437,000 as of June 30, 2019, compared to HKD 51,550,000 a year earlier[7] - The company’s capital as of June 30, 2019, amounted to approximately HKD 45.4 million, an increase from HKD 42.9 million as of March 31, 2019[32] Business Operations - The company operates primarily in Hong Kong, with all revenue generated from this region[15] - The company continues to focus on providing comprehensive construction and structural engineering consultancy services[10] - The company plans to expand its business scope and service coverage to capture new market opportunities for long-term development[25] - The company does not recommend the payment of an interim dividend for the three months ended June 30, 2019[21] Shareholding Structure - As of June 30, 2019, the company had 418,000,000 shares issued, with 194,800,000 shares (46.60%) held by Energetic Way Limited, controlled equally by Mr. Pan and Ms. Chan[46][48] - Major shareholder Energetic Way Limited holds 194,800,000 shares, representing 46.60% of the issued share capital[48] - Mr. Ke holds 83,624,000 shares, accounting for 20.01% of the issued share capital[48] - Mr. Zhang and Ms. Wang each hold 24,000,000 shares, representing 5.74% of the issued share capital[48] - The percentage of shares held by directors and senior management is based on the total issued shares as of June 30, 2019[46] Stock Options and Corporate Governance - The company has a stock option plan effective from December 12, 2016, allowing for the issuance of up to 41,800,000 shares, which is approximately 10% of the issued share capital at the time of adoption[56] - The stock option plan is designed to incentivize employees and other qualified participants[54] - The company has not granted any stock options since the adoption of the stock option plan[60] - The company has established an audit committee consisting of three independent non-executive directors to review and supervise the financial reporting process and internal control systems[69] - The company has adhered to the corporate governance code as per GEM listing rules throughout the reporting period[66] - The company is committed to high standards of corporate governance to protect shareholder interests and enhance corporate value[66] Compliance and Interests - The company is subject to the disclosure requirements under the Securities and Futures Ordinance[53] - There were no interests held by directors, major shareholders, or their associates in any business that competes directly or indirectly with the company as of June 30, 2019[62] - The company has not issued any stock options exceeding the limit set by the stock option plan without shareholder approval[59] - The company’s board of directors has confirmed compliance with trading standards during the reporting period[63] - No shares were purchased, sold, or redeemed by the company or its subsidiaries during the three months ending June 30, 2019[65] - The company has not established a CEO position; daily operations are overseen by executive directors and senior management[67] - The company and its subsidiaries did not engage in any arrangements that would allow directors to benefit from purchasing shares or debentures of the company or any other corporate entity[61] - No other individuals or entities, apart from those disclosed, hold any recorded interests in the company's shares as of June 30, 2019[52]

KNK Holdings Limited 中 國卓銀國際控股有限公司 Annual Report 2019 年報 中國卓銀國際控股有限公司 股份代號：8039 2019 年 報 香港聯合交易所有限公司（「聯交所」）GEM之特色 GEM之定位乃為相比起其他在聯交所上市之公司帶有較高投資風險之公司提供一個上市之市場。有意投資 者應了解投資於該等公司之潛在風險，並應經過審慎周詳之考慮後方作出投資決定。GEM之較高風險及其 他特色意味著GEM較適合專業及其他資深投資者。 由於GEM上市公司新興之性質使然，在GEM買賣之證券可能會較於聯交所主板買賣之證券承受較大之市 場波動風險，同時無法保證在GEM買賣之證券會有高流通量之市場。 香港交易及結算所有限公司及聯交所對本報告的內容概不負責，對其準確性或完整性亦不發表任何聲明， 並明確表示，概不對因本報告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 本報告包括的資料乃遵照GEM證券上市規則（「GEM上市規則」）的規定而提供有關中國卓銀國際控股有限 公司（「本公司」）的資料。本公司董事（「董事」）願就本報告共同及個別承擔全部責任。董事在作出一切合理 查 ...

中國卓銀國際控股有限公司 股份代號：8039 2018 第三季度 業績報告 香港聯合交易所有限公司（「聯交所」）GEM之特色 GEM 之定位乃為相比起其他在聯交所上市之公司帶有較高投資風險之中小型公司提供一 個上市之市場。有意投資者應了解投資於該等公司之潛在風險，並應經過審慎周詳之考慮 後方作出投資決定。 由於GEM 上市公司一般為中小型公司，在GEM 買賣之證券可能會較於聯交所主板買賣之 證券承受較大之市場波動風險，同時無法保證在GEM 買賣之證券會有高流通量之市場。 香港交易及結算所有限公司及香港聯合交易所有限公司對本報告內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示，概不對因本報告全部或任何部分內容而產生 或因依賴該等內容而引致的任何損失承擔任何責任。 本報告包括的資料乃遵照聯交所GEM 證券上市規則（「GEM 上市規則」）的規定而提供有關 中國卓銀國際控股有限公司（「本公司」連同其附屬公司，統稱「本集團」）的資料，本公司的 董事（「董事」）願就本報告共同及個別承擔全部責任。董事在作出一切合理查詢後確認，就 彼等所知及所信，本報告所載資料在各重大方面均屬準確完備，且無誤導或欺騙成分，及本 ...