Core Viewpoint - Gaoos International (08042) reported a significant increase in revenue and a turnaround in net profit for the six months ending June 30, 2025, indicating strong operational performance and growth potential in its service offerings [1] Financial Performance - Revenue reached HKD 136 million, representing a year-on-year growth of 46.5% [1] - Net profit was HKD 2.326 million, a recovery from a loss of HKD 2.466 million in the same period last year [1] - Basic earnings per share were HKD 0.29 cents [1] Revenue Drivers - The increase in revenue was primarily attributed to the growth in income derived from dispatch and payroll services [1]

[Report Statement and GEM Characteristics](index=1&type=section&id=Report%20Statement%20and%20GEM%20Characteristics) [GEM Characteristics](index=1&type=section&id=GEM%20Characteristics) This announcement presents KOS International Holdings Limited's interim results for the six months ended June 30, 2025, highlighting GEM as a listing platform for SMEs with higher investment risks requiring investor caution - The GEM market is positioned as a listing platform for small and medium-sized companies, but it carries higher investment risks[1](index=1&type=chunk) [Disclaimer](index=1&type=section&id=Disclaimer) Hong Kong Exchanges and Clearing Limited and the Stock Exchange are not responsible for this announcement's content and accept no liability for any loss - HKEX and the Stock Exchange are not responsible for the announcement's content and bear no liability for any loss[2](index=2&type=chunk) - The company's directors confirm the accuracy and completeness of the announcement's information, its freedom from misleading or fraudulent content, and accept full responsibility[3](index=3&type=chunk) [Financial Performance Overview](index=2&type=section&id=Financial%20Performance%20Overview) [Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=2&type=section&id=Unaudited%20Condensed%20Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) For the six months ended June 30, 2025, the company achieved HKD 136,290 thousand in revenue, a 46.5% increase, and turned a loss into a profit of HKD 2,326 thousand, with basic earnings per share of HKD 0.29 cents Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income (For the six months ended June 30) | Indicator | 2025 (HKD Thousand) | 2024 (HKD Thousand) | Change (HKD Thousand) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Revenue | 136,290 | 93,037 | 43,253 | 46.5% | | Other income | 873 | 623 | 250 | 40.1% | | Staff costs | (121,271) | (80,511) | (40,760) | 50.6% | | Other expenses and losses | (12,435) | (15,579) | 3,144 | -20.2% | | Finance costs | (418) | (96) | (322) | 335.4% | | Profit (Loss) before tax | 3,295 | (2,555) | 5,850 | N/A | | Income tax (expense) credit | (969) | 89 | (1,058) | N/A | | Profit (Loss) for the period | 2,326 | (2,466) | 4,792 | N/A | | Basic and diluted earnings (loss) per share (HK Cents) | 0.29 | (0.31) | 0.60 | N/A | [Condensed Consolidated Statement of Financial Position](index=3&type=section&id=Condensed%20Consolidated%20Statement%20of%20Financial%20Position) As of June 30, 2025, the company's net assets increased to HKD 60,754 thousand, a 4.45% rise from December 31, 2024, with net current assets remaining robust at HKD 52,577 thousand despite a slight decrease in the current ratio Condensed Consolidated Statement of Financial Position (As of June 30) | Indicator | 2025 (HKD Thousand) | 2024 (HKD Thousand) | Change (HKD Thousand) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Non-current assets | 13,234 | 15,148 | (1,914) | -12.6% | | Current assets | 76,923 | 68,554 | 8,369 | 12.2% | | Current liabilities | 24,346 | 18,836 | 5,510 | 29.3% | | Net current assets | 52,577 | 49,718 | 2,859 | 5.8% | | Non-current liabilities | 5,057 | 6,703 | (1,646) | -24.6% | | Net assets | 60,754 | 58,163 | 2,591 | 4.45% | [Condensed Consolidated Statement of Changes in Equity](index=5&type=section&id=Unaudited%20Condensed%20Consolidated%20Statement%20of%20Changes%20in%20Equity) For the six months ended June 30, 2025, the company's total equity increased from HKD 58,163 thousand to HKD 60,754 thousand, primarily driven by a profit for the period of HKD 2,326 thousand and other comprehensive income of HKD 265 thousand Condensed Consolidated Statement of Changes in Equity (For the six months ended June 30) | Indicator | 2025 (HKD Thousand) | 2024 (HKD Thousand) | | :--- | :--- | :--- | | Total equity at beginning of period | 58,163 | 61,229 | | Profit (Loss) for the period | 2,326 | (2,466) | | Other comprehensive income (expense) for the period | 265 | (227) | | Total equity at end of period | 60,754 | 58,536 | [Condensed Consolidated Statement of Cash Flows](index=6&type=section&id=Unaudited%20Condensed%20Consolidated%20Statement%20of%20Cash%20Flows) For the six months ended June 30, 2025, net cash outflow from operating activities was HKD 8,186 thousand, net cash outflow from investing activities was HKD 162 thousand, and net cash inflow from financing activities was HKD 5,413 thousand, resulting in a net decrease of HKD 2,935 thousand in cash and cash equivalents Condensed Consolidated Statement of Cash Flows (For the six months ended June 30) | Indicator | 2025 (HKD Thousand) | 2024 (HKD Thousand) | | :--- | :--- | :--- | | Net cash used in operating activities | (8,186) | (7,994) | | Net cash from (used in) investing activities | (162) | 109 | | Net cash from (used in) financing activities | 5,413 | (3,217) | | Net decrease in cash and cash equivalents | (2,935) | (11,102) | | Cash and cash equivalents at end of period | 21,893 | 23,421 | [Notes to the Financial Statements](index=7&type=section&id=Notes%20to%20the%20Financial%20Statements) [1. General Information](index=7&type=section&id=1.%20General%20Information) KOS International Holdings Limited, incorporated in the Cayman Islands and listed on GEM since October 12, 2018, primarily provides recruitment, secondment, and payroll services across Hong Kong, Macau, Mainland China, and Singapore - The company was incorporated in the Cayman Islands and listed on GEM of the Stock Exchange on **October 12, 2018**[10](index=10&type=chunk) - Principal activities include providing recruitment and/or secondment and payroll services in Hong Kong, Macau, Mainland China, and Singapore[11](index=11&type=chunk) [2. Basis of Preparation and Principal Accounting Policies](index=7&type=section&id=2.%20Basis%20of%20Preparation%20and%20Principal%20Accounting%20Policies) The condensed consolidated financial statements are prepared on a historical cost basis, adhering to HKAS 34 and GEM Listing Rules Chapter 18, with consistent accounting policies from the prior year and no significant impact from new or revised standards - Financial statements are prepared on a historical cost basis and in accordance with HKAS 34 and GEM Listing Rule Chapter 18[14](index=14&type=chunk) - Adopted accounting policies are consistent with the previous year, with no significant impact from new or revised standards[14](index=14&type=chunk) [3. Revenue Classification and Segment Information](index=8&type=section&id=3.%20Revenue%20Classification%20and%20Segment%20Information) For the six months ended June 30, 2025, total revenue was HKD 136,290 thousand, with secondment and payroll services revenue significantly increasing by 76.5% to HKD 99,332 thousand, while recruitment services revenue slightly increased by 0.5% to HKD 36,958 thousand, and Hong Kong operations contributed 91.3% of total revenue Revenue Classification (For the six months ended June 30) | Service Type | Region | 2025 (HKD Thousand) | 2024 (HKD Thousand) | Change (HKD Thousand) | Change (%) | | :--- | :--- | :--- | :--- | :--- | :--- | | Recruitment Services | Hong Kong | 27,646 | 26,352 | 1,294 | 4.9% | | | Mainland China | 8,021 | 8,457 | (436) | -5.2% | | | Singapore | 1,291 | 1,954 | (663) | -33.9% | | **Total Recruitment Services** | | **36,958** | **36,763** | **195** | **0.5%** | | Secondment and Payroll Services | Hong Kong | 96,840 | 54,803 | 42,037 | 76.7% | | | Macau | 1,882 | 1,471 | 411 | 27.9% | | | Mainland China | 610 | – | 610 | N/A | | **Total Secondment and Payroll Services** | | **99,332** | **56,274** | **43,058** | **76.5%** | | **Total** | | **136,290** | **93,037** | **43,253** | **46.5%** | - Hong Kong operations contributed **91.3%** of the Group's total revenue (2024: 87.2%)[18](index=18&type=chunk) Revenue from Major Customers (For the six months ended June 30) | Customer | 2025 (HKD Thousand) | 2024 (HKD Thousand) | | :--- | :--- | :--- | | Customer A | 19,234 | 10,837 | | Customer B | 16,749 | – | [4. Finance Costs](index=9&type=section&id=4.%20Finance%20Costs) For the six months ended June 30, 2025, finance costs significantly increased to HKD 418 thousand, a 335.4% rise from HKD 96 thousand in the prior period, primarily due to interest on lease liabilities and new bank borrowings Finance Costs (For the six months ended June 30) | Item | 2025 (HKD Thousand) | 2024 (HKD Thousand) | Change (HKD Thousand) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Interest on lease liabilities | 289 | 85 | 204 | 240.0% | | Interest on bank borrowings | 114 | – | 114 | N/A | | Interest on provision for reinstatement costs | 15 | 11 | 4 | 36.4% | | **Total** | **418** | **96** | **322** | **335.4%** | [5. Income Tax Expense (Credit)](index=9&type=section&id=5.%20Income%20Tax%20Expense%20(Credit)) For the six months ended June 30, 2025, income tax expense was HKD 969 thousand, compared to a credit of HKD 89 thousand in the prior period, mainly due to increased taxable profit and an over-provision credit last year, with Hong Kong profits tax at 16.5% and 8.25% for the first HKD 2 million of profit for qualifying entities Income Tax Expense (Credit) (For the six months ended June 30) | Item | 2025 (HKD Thousand) | 2024 (HKD Thousand) | Change (HKD Thousand) | | :--- | :--- | :--- | :--- | | Hong Kong profits tax | 969 | 360 | 609 | | Singapore corporate income tax | – | 17 | (17) | | Over-provision in prior years | – | (466) | 466 | | **Total** | **969** | **(89)** | **1,058** | - Hong Kong profits tax is calculated at **16.5%**, with the first **HKD 2 million** of profit for qualifying entities taxed at **8.25%**[21](index=21&type=chunk)[22](index=22&type=chunk) - Macau and Mainland China subsidiaries made no income tax provision due to no taxable profit or qualifying for small and micro-enterprise preferential policies[22](index=22&type=chunk)[23](index=23&type=chunk)[24](index=24&type=chunk) [6. Earnings (Loss) Per Share](index=10&type=section&id=6.%20Earnings%20(Loss)%20Per%20Share) For the six months ended June 30, 2025, basic earnings per share were HKD 0.29 cents, compared to a loss per share of HKD 0.31 cents in the prior period, primarily due to the profit for the period turning positive, with no diluted earnings presented as no potential ordinary shares were outstanding Earnings (Loss) Per Share (For the six months ended June 30) | Indicator | 2025 | 2024 | | :--- | :--- | :--- | | Profit (Loss) for the period (HKD Thousand) | 2,326 | (2,466) | | Weighted average number of ordinary shares (Thousand Shares) | 800,000 | 800,000 | | Basic earnings (loss) per share (HK Cents) | 0.29 | (0.31) | - No potential ordinary shares were outstanding during the current or prior period, thus no diluted earnings (loss) per share is presented[25](index=25&type=chunk) [7. Dividends](index=10&type=section&id=7.%20Dividends) The Board does not recommend the payment of an interim dividend for the six months ended June 30, 2025, consistent with the prior period - The Board does not recommend the payment of an interim dividend for the six months ended June 30, 2025 (2024: nil)[26](index=26&type=chunk) [8. Movements in Property, Plant and Equipment and Right-of-Use Assets](index=10&type=section&id=8.%20Movements%20in%20Property%2C%20Plant%20and%20Equipment%20and%20Right-of-Use%20Assets) For the six months ended June 30, 2025, the Group purchased approximately HKD 169 thousand in property, plant and equipment, and entered into new lease agreements for office properties in Singapore and Shanghai, recognizing corresponding right-of-use assets and lease liabilities - For the six months ended June 30, 2025, the Group purchased property, plant and equipment with a total cost of approximately **HKD 169 thousand**[27](index=27&type=chunk) - A new lease agreement for the Singapore office was entered into, recognizing approximately **HKD 741 thousand** in right-of-use assets and **HKD 733 thousand** in lease liabilities[28](index=28&type=chunk) - A new lease agreement for the Shanghai office was entered into, recognizing approximately **HKD 465 thousand** in right-of-use assets and **HKD 463 thousand** in lease liabilities[28](index=28&type=chunk) [9. Trade and Other Receivables](index=11&type=section&id=9.%20Trade%20and%20Other%20Receivables) As of June 30, 2025, total trade and other receivables amounted to HKD 53,583 thousand, an increase of 28.1% from December 31, 2024, with the largest portion of trade receivables, HKD 36,884 thousand, due within 30 days Trade and Other Receivables (As of June 30) | Item | 2025 (HKD Thousand) | 2024 (HKD Thousand) | Change (HKD Thousand) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Trade receivables | 50,637 | 40,116 | 10,521 | 26.2% | | Less: Provision for expected credit losses | (1,086) | (1,284) | 198 | -15.4% | | Other receivables | 4,032 | 3,099 | 933 | 30.1% | | **Total trade and other receivables** | **53,583** | **41,831** | **11,752** | **28.1%** | - The Group grants credit terms of up to **60 days** to its customers[29](index=29&type=chunk) Aging Analysis of Trade Receivables (As of June 30) | Aging | 2025 (HKD Thousand) | 2024 (HKD Thousand) | | :--- | :--- | :--- | | Within 30 days | 36,884 | 29,589 | | 31 to 60 days | 8,525 | 4,316 | | 61 to 90 days | 1,867 | 1,574 | | 91 to 180 days | 2,275 | 2,914 | | Over 180 days | – | 439 | | **Total** | **49,551** | **38,832** | [10. Financial Assets at Fair Value Through Profit or Loss](index=12&type=section&id=10.%20Financial%20Assets%20at%20Fair%20Value%20Through%20Profit%20or%20Loss) As of June 30, 2025, financial assets at fair value through profit or loss increased to HKD 465 thousand from HKD 419 thousand as of December 31, 2024, primarily comprising listed securities Financial Assets at Fair Value Through Profit or Loss (As of June 30) | Item | 2025 (HKD Thousand) | 2024 (HKD Thousand) | | :--- | :--- | :--- | | Listed securities | 465 | 419 | - The fair value of listed securities is based on bid prices quoted in active markets in Hong Kong[33](index=33&type=chunk) [11. Other Payables and Accruals and Contract Liabilities](index=12&type=section&id=11.%20Other%20Payables%20and%20Accruals%20and%20Contract%20Liabilities) As of June 30, 2025, total other payables and accruals decreased by 20.5% to HKD 11,481 thousand from December 31, 2024, while contract liabilities remained stable at HKD 193 thousand Other Payables and Accruals (As of June 30) | Item | 2025 (HKD Thousand) | 2024 (HKD Thousand) | Change (HKD Thousand) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Other payables | 1,795 | 2,467 | (672) | -27.2% | | Accrued expenses | 669 | 1,117 | (448) | -40.1% | | Accrued payroll expenses | 9,017 | 10,862 | (1,845) | -17.0% | | **Total** | **11,481** | **14,446** | **(2,965)** | **-20.5%** | Contract Liabilities (As of June 30) | Item | 2025 (HKD Thousand) | 2024 (HKD Thousand) | | :--- | :--- | :--- | | Secondment and payroll services | 193 | 193 | [12. Bank Borrowings](index=12&type=section&id=12.%20Bank%20Borrowings) As of June 30, 2025, the Group incurred new secured bank borrowings of HKD 8,000 thousand, bearing interest at HIBOR or cost of funds plus 1.7% to 3%, with an effective annual interest rate of 6.1% Bank Borrowings (As of June 30) | Item | 2025 (HKD Thousand) | 2024 (HKD Thousand) | | :--- | :--- | :--- | | Bank borrowings, secured | 8,000 | – | - Secured bank borrowings bear interest at HIBOR or cost of funds plus **1.7% to 3%** per annum, with an effective annual interest rate of **6.1%**[34](index=34&type=chunk) [13. Contingent Liabilities](index=12&type=section&id=13.%20Contingent%20Liabilities) As of June 30, 2025, the Group had no significant contingent liabilities, consistent with the situation as of December 31, 2024 - As of June 30, 2025, the Group had no significant contingent liabilities[35](index=35&type=chunk) [14. Fair Value Measurement of Financial Instruments](index=13&type=section&id=14.%20Fair%20Value%20Measurement%20of%20Financial%20Instruments) The Group measures certain financial instruments at fair value, including Level 1 listed equity securities at fair value through profit or loss and Level 3 unlisted equity investments at fair value through other comprehensive income, with the latter valued using the market approach Financial Assets Measured at Fair Value on a Recurring Basis (As of June 30) | Financial Assets | 2025 (HKD Thousand) | 2024 (HKD Thousand) | Fair Value Hierarchy | Valuation Technique and Key Inputs | | :--- | :--- | :--- | :--- | :--- | | Listed equity securities classified as equity instruments at fair value through profit or loss | 465 | 419 | Level 1 | Valued based on quotes available from the Stock Exchange | | Unlisted equity investments classified as equity instruments at fair value through other comprehensive income | 1,174 | 1,174 | Level 3 | Market approach, using comparable multiples of price-to-sales ratio and illiquidity discount | - For the six months ended June 30, 2025, and the year ended December 31, 2024, there were no transfers between Level 1 and Level 2, nor any transfers into or out of Level 3 fair value measurements[38](index=38&type=chunk) [15. Related Party Transactions](index=14&type=section&id=15.%20Related%20Party%20Transactions) For the six months ended June 30, 2025, total remuneration for key management personnel was HKD 3,336 thousand, a decrease from HKD 3,722 thousand in the prior period Remuneration of Key Management Personnel (For the six months ended June 30) | Item | 2025 (HKD Thousand) | 2024 (HKD Thousand) | Change (HKD Thousand) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Short-term benefits | 3,300 | 3,686 | (386) | -10.5% | | Post-employment benefits | 36 | 36 | – | 0.0% | | **Total** | **3,336** | **3,722** | **(386)** | **-10.4%** | [Management Discussion and Analysis](index=15&type=section&id=Management%20Discussion%20and%20Analysis) [Business Review and Outlook](index=15&type=section&id=Business%20Review%20and%20Outlook) Despite challenging market conditions and an uncertain economic outlook in the first half of 2025, the Group successfully turned a loss into a profit with a significant 46.5% increase in total revenue, driven by a focus on payroll and secondment services, with future plans including expanding into the Greater Bay Area and Southeast Asian markets, enhancing operational efficiency, and talent development - The Group is a leading human resources service provider in Hong Kong, offering recruitment, secondment, and payroll services, with offices in Hong Kong, Macau, Shenzhen, Guangzhou, Shanghai, and Singapore[42](index=42&type=chunk) - In the first half of 2025, the Group successfully turned a loss into a profit, recording a net profit of approximately **HKD 2,326 thousand**, compared to a net loss of approximately **HKD 2,466 thousand** in the same period last year[43](index=43&type=chunk) - The Group's total revenue grew significantly, primarily driven by the strong performance of secondment and payroll services, while traditional recruitment services in Hong Kong faced pressure from weak market demand and increased competition[43](index=43&type=chunk)[44](index=44&type=chunk) - Future outlook includes: adhering to the Greater Bay Area development plan, increasing business in sectors like technology, consumer, and real estate; enhancing the quality of existing teams; and improving public awareness and brand recognition[55](index=55&type=chunk)[56](index=56&type=chunk) - The Group will focus resources on sectors with strong recovery potential, continuously recruit, train, and retain top recruitment talent, and enhance productivity and profitability through stringent team composition, geographical deployment, and performance monitoring[57](index=57&type=chunk)[59](index=59&type=chunk) [Business Review](index=15&type=section&id=Business%20Review) In the first half of 2025, despite market volatility and an uncertain economic outlook leading to a cautious recruitment environment, the Group achieved a significant 46.5% increase in total revenue and successfully turned a loss into a profit by focusing on secondment and payroll services - In the first half of 2025, the Group's total revenue significantly increased by approximately **HKD 43,253 thousand** or **46.5%** to **HKD 136,290 thousand**[47](index=47&type=chunk) - Hong Kong recruitment services revenue increased by **4.9%**, secondment and payroll services revenue significantly increased by **76.5%**, while Singapore recruitment services revenue decreased by **33.9%**[47](index=47&type=chunk) - The Group continuously invests in experienced recruitment personnel and industry expert teams, and implements measures to enhance operational efficiency, including streamlining internal processes, leveraging technology, and data-driven decision-making[45](index=45&type=chunk)[46](index=46&type=chunk) [Revenue from Hong Kong Operations](index=16&type=section&id=Revenue%20from%20Hong%20Kong%20Operations) Despite an unfavorable economic environment in Hong Kong affecting recruitment service demand, secondment and payroll services became a key growth driver, with revenue significantly increasing by 76.7%, reflecting the company's ability to adapt to changing client needs, while recruitment services revenue slightly increased by 4.9% but faced challenges from candidates' reluctance to change jobs and extended recruitment processes - Hong Kong secondment and payroll services revenue significantly increased by **HKD 42,037 thousand** or **76.7%** from **HKD 54,803 thousand** to **HKD 96,840 thousand**, primarily due to an increase in client numbers[50](index=50&type=chunk) - Hong Kong recruitment services revenue slightly increased by **HKD 1,294 thousand** or **4.9%** to **HKD 27,646 thousand**, but faced challenges from market caution, candidates' reluctance to change jobs, and extended recruitment timelines[49](index=49&type=chunk) - The Group supports clients in navigating economic uncertainties by offering value-added services such as talent mapping and workforce planning[49](index=49&type=chunk) [Revenue from Mainland China Operations](index=17&type=section&id=Revenue%20from%20Mainland%20China%20Operations) Mainland China operations faced complex challenges, with recruitment revenue decreasing by 5.2% to HKD 8,021 thousand; however, the Group, through its new Shanghai office and existing Shenzhen and Guangzhou offices, is committed to strengthening client relationships, enhancing service quality, and prioritizing talent development and quality operations, maintaining confidence in future growth potential - Mainland China recruitment revenue decreased by **HKD 436 thousand** or **5.2%** from **HKD 8,457 thousand** to **HKD 8,021 thousand**[52](index=52&type=chunk) - The Group established a new office in Shanghai and continues to provide services in Shenzhen and Guangzhou, committed to strengthening client relationships and enhancing service quality[51](index=51&type=chunk) - The Group is confident in the growth potential of its Mainland China operations, focusing on diversified development, client-centric solutions, and geographical expansion strategies[53](index=53&type=chunk) [Revenue from Singapore Operations](index=18&type=section&id=Revenue%20from%20Singapore%20Operations) Singapore recruitment business revenue decreased by 33.9% to HKD 1,291 thousand, but the Group remains committed to providing excellent recruitment services, leveraging expertise to identify top talent, and views this as part of its strategic expansion into Southeast Asia - Singapore recruitment business revenue decreased by **HKD 663 thousand** or **33.9%** from **HKD 1,954 thousand** to **HKD 1,291 thousand**[54](index=54&type=chunk) - Despite the revenue decline, Singapore operations demonstrated resilience, and the Group is committed to providing excellent recruitment services, viewing it as part of its strategic expansion into Southeast Asia[54](index=54&type=chunk) [Outlook](index=18&type=section&id=Outlook) The Group remains optimistic about the long-term growth prospects of the HR industry in Hong Kong, Mainland China, and Southeast Asia, focusing resources on sectors with strong recovery potential, continuously investing in talent development, and enhancing productivity and profitability through operational optimization, while exploring new market opportunities and potential investments - The Group will focus resources on sectors with strong recovery potential and continuously recruit, train, and retain top recruitment talent[57](index=57&type=chunk) - It will focus on enhancing productivity and profitability through stringent team composition, geographical deployment, and performance monitoring measures[57](index=57&type=chunk)[59](index=59&type=chunk) - The Group will continue to evaluate opportunities for geographical expansion and service diversification, and closely monitor potential investment opportunities that offer good returns and/or generate synergies with its core business[57](index=57&type=chunk)[59](index=59&type=chunk) [Financial Review](index=20&type=section&id=Financial%20Review) The Group's revenue for the first half of 2025 significantly increased by 46.5% to HKD 136,290 thousand, primarily driven by a strong 76.5% growth in secondment and payroll services, successfully turning a loss into a net profit of HKD 2,326 thousand, with staff costs increasing due to business expansion but other expenses decreasing, and the Group maintaining robust liquidity with a gearing ratio of 27.4% - The Group's revenue increased by **46.5%** from **HKD 93,037 thousand** to **HKD 136,290 thousand**, primarily due to increased revenue from secondment and payroll services[60](index=60&type=chunk) - Profit for the period and total comprehensive income amounted to **HKD 2,326 thousand**, successfully reversing the loss incurred in the same period last year[70](index=70&type=chunk) - As of June 30, 2025, the current ratio was approximately **3.2 times**, and the gearing ratio was **27.4%**, with directors believing the Group has sufficient liquidity[72](index=72&type=chunk)[73](index=73&type=chunk) [Revenue](index=20&type=section&id=Revenue) The Group's total revenue significantly increased by 46.5% to HKD 136,290 thousand, primarily driven by a 76.5% growth in secondment and payroll services revenue, while recruitment services revenue slightly increased by 0.5%, with Hong Kong recruitment services growing by 4.9%, but Mainland China and Singapore recruitment services decreasing by 5.2% and 33.9% respectively - Total revenue increased by **HKD 43,253 thousand** or **46.5%** from **HKD 93,037 thousand** to **HKD 136,290 thousand**[60](index=60&type=chunk) - Secondment and payroll services revenue significantly increased by **HKD 43,058 thousand** or **76.5%** to **HKD 99,332 thousand**, primarily due to the expansion of the Hong Kong secondment team and implementation of new strategies[63](index=63&type=chunk) - Recruitment services revenue slightly increased by **HKD 195 thousand** or **0.5%** to **HKD 36,958 thousand**, with Hong Kong recruitment services growing by **4.9%**, while Mainland China and Singapore recruitment services decreased by **5.2%** and **33.9%** respectively[61](index=61&type=chunk) [Other Income](index=21&type=section&id=Other%20Income) Other income increased by 40.1% to HKD 873 thousand, primarily due to increased revenue from visa application services and seminar and training services - Other income increased by **HKD 250 thousand** or **40.1%** from **HKD 623 thousand** to **HKD 873 thousand**[64](index=64&type=chunk) - The increase primarily stemmed from visa application services and seminar and training services, generating approximately **HKD 621 thousand** in revenue[64](index=64&type=chunk) [Staff Costs](index=21&type=section&id=Staff%20Costs) Staff costs significantly increased by 50.6% to HKD 121,271 thousand, primarily due to a substantial increase in seconded employees from 671 to 2,650, aligning with the growth in secondment and payroll services revenue, with seconded employee costs accounting for 74.0% of total staff costs - Staff costs increased by **HKD 40,760 thousand** or **50.6%** from **HKD 80,511 thousand** to **HKD 121,271 thousand**[65](index=65&type=chunk) - The increase in staff costs was primarily due to a significant rise in the number of seconded employees, from **671** as of June 30, 2024, to **2,650** as of June 30, 2025[65](index=65&type=chunk) - Seconded employee costs amounted to **HKD 89,696 thousand**, representing **74.0%** of total staff costs, while in-house staff costs were **HKD 31,575 thousand**, accounting for **26.0%**[66](index=66&type=chunk) [Other Expenses and Losses](index=21&type=section&id=Other%20Expenses%20and%20Losses) Other expenses and losses decreased by 20.2% to HKD 12,435 thousand, primarily including rent and rates, depreciation, marketing and advertising expenses, and insurance expenses - Other expenses and losses decreased by **HKD 3,144 thousand** or **20.2%** from **HKD 15,579 thousand** to **HKD 12,435 thousand**[67](index=67&type=chunk) [Finance Costs](index=22&type=section&id=Finance%20Costs) Finance costs significantly increased to HKD 418 thousand, primarily comprising interest on lease liabilities (HKD 289 thousand) and interest on new bank borrowings (HKD 114 thousand) - Finance costs primarily refer to interest on lease liabilities of **HKD 289 thousand** and interest on bank borrowings of **HKD 114 thousand**[68](index=68&type=chunk) [Income Tax (Expense) Credit](index=22&type=section&id=Income%20Tax%20(Expense)%20Credit) Income tax expense shifted from a credit of HKD 89 thousand in the prior period to an expense of HKD 969 thousand, an increase of HKD 1,058 thousand, primarily due to increased taxable profit from operating subsidiaries and an over-provision credit last year - Income tax expense increased by **HKD 1,058 thousand** from a credit of **HKD 89 thousand** for the six months ended June 30, 2024, to an expense of **HKD 969 thousand** for the six months ended June 30, 2025[69](index=69&type=chunk) - The increase was primarily due to higher estimated taxable profits from operating subsidiaries and the income tax credit from prior years in 2024[69](index=69&type=chunk) [Profit for the Period and Total Comprehensive Income (Expense)](index=22&type=section&id=Profit%20for%20the%20Period%20and%20Total%20Comprehensive%20Income%20(Expense)) The Group recorded a net profit of HKD 2,326 thousand and total comprehensive income of HKD 2,591 thousand for the period, successfully reversing the net loss of HKD 2,466 thousand and total comprehensive expense of HKD 2,693 thousand in the same period last year, primarily due to significant growth in secondment and payroll services revenue - The Group recorded a net profit of **HKD 2,326 thousand** and total comprehensive income of **HKD 2,591 thousand**, compared to a net loss of **HKD 2,466 thousand** and total comprehensive expense of **HKD 2,693 thousand** in the same period last year[70](index=70&type=chunk) - The net profit was primarily attributable to increased revenue from secondment and payroll services, benefiting from effective business development strategies and client expansion[70](index=70&type=chunk) [Dividends](index=22&type=section&id=Dividends) The Board does not recommend the payment of an interim dividend for the six months ended June 30, 2025, consistent with the prior period - The Directors do not recommend the payment of an interim dividend for the six months ended June 30, 2025 (2024: nil)[71](index=71&type=chunk) [Liquidity, Financial Resources and Gearing Ratio](index=23&type=section&id=Liquidity%2C%20Financial%20Resources%20and%20Gearing%20Ratio) As of June 30, 2025, the Group had HKD 2,400 thousand in pledged bank deposits and HKD 21,893 thousand in bank balances and cash, with a current ratio of 3.2 times and a gearing ratio of 27.4%, and directors deeming liquidity sufficient - As of June 30, 2025, the Group had pledged bank deposits of **HKD 2,400 thousand** and bank balances and cash of approximately **HKD 21,893 thousand**[72](index=72&type=chunk) - The current ratio was approximately **3.2 times** (December 31, 2024: approximately 3.6 times), and the gearing ratio was **27.4%** (December 31, 2024: 17.6%)[72](index=72&type=chunk)[73](index=73&type=chunk) - The Directors believe the Group has sufficient liquidity to meet its funding requirements[73](index=73&type=chunk) [Foreign Exchange Risk](index=23&type=section&id=Foreign%20Exchange%20Risk) Most of the Group's revenue-generating operations are denominated in Hong Kong Dollars, so foreign exchange rate fluctuation risk is not significant, and no hedging or other arrangements have been made - Most of the Group's revenue-generating operations are denominated in Hong Kong Dollars, thus foreign exchange rate fluctuation risk is not significant, and no hedging or other arrangements have been made[74](index=74&type=chunk) [Share Capital Structure](index=23&type=section&id=Share%20Capital%20Structure) For the six months ended June 30, 2025, there was no change in the company's share capital structure, with a total of 800,000,000 ordinary shares issued, each with a par value of HKD 0.01 - For the six months ended June 30, 2025, there was no change in the company's share capital structure[75](index=75&type=chunk) - The total number of ordinary shares issued was **800,000,000**, with a par value of **HKD 0.01** per share[75](index=75&type=chunk) [Treasury Policy](index=23&type=section&id=Treasury%20Policy) The Directors will continue to follow a prudent policy in managing cash balances and maintaining a strong and healthy liquidity position to capitalize on future growth opportunities - The Directors will adhere to a prudent policy in managing cash balances, maintaining a strong and healthy liquidity position to capitalize on future growth opportunities[76](index=76&type=chunk) [Other Information](index=24&type=section&id=Other%20Information) [Material Investments and Future Plans for Material Investments or Capital Assets](index=24&type=section&id=Material%20Investments%20and%20Future%20Plans%20for%20Material%20Investments%20or%20Capital%20Assets) As of June 30, 2025, the Group held no material investments and had no plans for any material investments or additions of other capital assets - As of June 30, 2025, the Group held no material investments and had no plans for any material investments or additions of other capital assets[77](index=77&type=chunk) [Material Acquisitions and Disposals of Subsidiaries, Associates and Joint Ventures](index=24&type=section&id=Material%20Acquisitions%20and%20Disposals%20of%20Subsidiaries%2C%20Associates%20and%20Joint%20Ventures) For the six months ended June 30, 2025, the Group had no material acquisitions or disposals of subsidiaries, associates, or joint ventures - For the six months ended June 30, 2025, the Group had no material acquisitions or disposals of subsidiaries, associates, or joint ventures[78](index=78&type=chunk) [Charge on the Group's Assets](index=24&type=section&id=Charge%20on%20the%20Group's%20Assets) As of June 30, 2025, bank deposits of HKD 2,400 thousand were pledged as security for the Group's bank facilities - As of June 30, 2025, bank deposits of **HKD 2,400 thousand** were pledged as security for the Group's bank facilities[79](index=79&type=chunk) [Contingent Liabilities](index=24&type=section&id=Contingent%20Liabilities) As of June 30, 2025, the Group had no significant contingent liabilities - As of June 30, 2025, the Group had no significant contingent liabilities[80](index=80&type=chunk) [Events After the Reporting Period](index=24&type=section&id=Events%20After%20the%20Reporting%20Period) As of the date of this announcement, no significant events affecting the Company or the Group have occurred after June 30, 2025 - As of the date of this announcement, no significant events affecting the Company or the Group have occurred after June 30, 2025[81](index=81&type=chunk) [Employees and Remuneration Policy](index=24&type=section&id=Employees%20and%20Remuneration%20Policy) As of June 30, 2025, the Group had 130 in-house employees and 2,650 seconded employees, with staff costs of approximately HKD 121,271 thousand, and remuneration is determined based on performance, qualifications, experience, and industry practice, with commissions and discretionary bonuses offered to attract and retain talent - As of June 30, 2025, the Group had **130** in-house employees and **2,650** seconded employees[82](index=82&type=chunk) - Staff costs (including directors' emoluments) amounted to approximately **HKD 121,271 thousand**[82](index=82&type=chunk) - Remuneration is determined based on performance, qualifications, experience, and industry practice, with commissions and discretionary bonuses offered to attract and retain talent[82](index=82&type=chunk) [Directors' and Major Shareholders' Interests](index=25&type=section&id=Directors'%20and%20Major%20Shareholders'%20Interests) [Directors' and Chief Executive's Interests and Short Positions in Shares, Underlying Shares and Debentures of the Company or any Associated Corporation](index=25&type=section&id=Directors'%20and%20Chief%20Executive's%20Interests%20and%20Short%20Positions%20in%20Shares%2C%20Underlying%20Shares%20and%20Debentures%20of%20the%20Company%20or%20any%20Associated%20Corporation) As of June 30, 2025, Mr. Chan Ka Kin, Mr. Chan Ka On, and Mr. Chan Ka Shing each held long positions in 600,000,000 shares of the Company, representing 75% of the issued share capital, through controlled corporations and concert party arrangements Directors' Long Positions in Shares of the Company (As of June 30) | Name of Director | Capacity/Nature of Interest | Number of Shares Held | Approximate Percentage of Issued Share Capital | | :--- | :--- | :--- | :--- | | Mr. Chan Ka Kin | Interest in controlled corporation and concert party | 600,000,000 | 75% | | Mr. Chan Ka On | Interest in controlled corporation and concert party | 600,000,000 | 75% | | Mr. Chan Ka Shing | Interest in controlled corporation and concert party | 600,000,000 | 75% | - Of the **600,000,000 shares**, **450,000,000** shares are registered in the name of KJE Limited, and **150,000,000** shares are registered in the name of Caiden Holdings Limited[84](index=84&type=chunk) - Mr. Chan Ka Kin, Mr. Chan Ka On, Mr. Chan Ka Shing, and Mr. Chow Ka Wai entered into a deed of concert party arrangement on **January 18, 2018**[84](index=84&type=chunk) [Major Shareholders' Interests and Short Positions in Shares, Debentures and Underlying Shares of the Company](index=26&type=section&id=Major%20Shareholders'%20Interests%20and%20Short%20Positions%20in%20Shares%2C%20Debentures%20and%20Underlying%20Shares%20of%20the%20Company) As of June 30, 2025, KJE Limited, Caiden Holdings Limited, and Mr. Chow Ka Wai each held long positions in 600,000,000 shares of the Company, representing 75% of the issued share capital, consistent with the directors' disclosure Major Shareholders' Long Positions in Shares of the Company (As of June 30) | Name/Designation of Major Shareholder | Capacity/Nature of Interest | Number of Shares Held | Approximate Percentage of Issued Share Capital | | :--- | :--- | :--- | :--- | | KJE Limited | Beneficial owner and concert party | 600,000,000 | 75% | | Caiden Holdings Limited | Beneficial owner and concert party | 600,000,000 | 75% | | Mr. Chow Ka Wai | Interest in controlled corporation and concert party | 600,000,000 | 75% | - KJE Limited is approximately **33.33%** owned by Mr. Chan Ka Kin, Mr. Chan Ka On, and Mr. Chan Ka Shing respectively, while Caiden Holdings Limited is wholly owned by Mr. Chow Ka Wai[86](index=86&type=chunk) [Share Option Scheme](index=27&type=section&id=Share%20Option%20Scheme) The Company adopted a share option scheme on September 13, 2018, to reward participants, valid for ten years, with the maximum number of shares to be issued upon exercise of options not exceeding 10% of the total issued shares at the time of adoption, and as of June 30, 2025, no share options were granted, exercised, cancelled, or lapsed - The Company adopted a share option scheme on **September 13, 2018**, valid for **ten years**, aiming to reward or incentivize selected participants[88](index=88&type=chunk)[89](index=89&type=chunk) - The maximum number of shares to be issued upon exercise of options shall not exceed **10%** of the total issued shares on the date of adoption of the scheme[90](index=90&type=chunk) - As of June 30, 2025, no share options under the scheme were granted, exercised, cancelled, or lapsed, and there were no outstanding share options[90](index=90&type=chunk) [Corporate Governance and Other Matters](index=28&type=section&id=Corporate%20Governance%20and%20Other%20Matters) [Directors' Rights to Acquire Shares or Debentures](index=28&type=section&id=Directors'%20Rights%20to%20Acquire%20Shares%20or%20Debentures) For the six months ended June 30, 2025, neither the Company, its subsidiaries, nor any associated corporations entered into any arrangements enabling directors (including their spouses and minor children) to acquire benefits by acquiring shares, underlying shares, or debentures of the Company or any associated corporation, and as of the date of this announcement, no share options have been granted to directors - For the six months ended June 30, 2025, the Company did not enter into any arrangements enabling directors to profit from acquiring shares or debentures[91](index=91&type=chunk) - As of the date of this announcement, the Company has not granted any share options to directors[91](index=91&type=chunk) [Purchase, Sale or Redemption of the Company's Listed Securities](index=28&type=section&id=Purchase%2C%20Sale%20or%20Redemption%20of%20the%20Company's%20Listed%20Securities) For the six months ended June 30, 2025, neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's listed securities - For the six months ended June 30, 2025, neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's listed securities[92](index=92&type=chunk) [Competing Interests](index=28&type=section&id=Competing%20Interests) For the six months ended June 30, 2025, none of the directors, controlling shareholders, or their close associates held any interests in businesses that compete or are likely to compete with the Group's business - For the six months ended June 30, 2025, none of the directors, controlling shareholders, or their close associates held any interests in businesses that compete or are likely to compete with the Group's business[93](index=93&type=chunk) [Corporate Governance Practices](index=28&type=section&id=Corporate%20Governance%20Practices) The Company has complied with the code provisions of the Corporate Governance Code as set out in Appendix C1 Part 2 of the GEM Listing Rules for the six months ended June 30, 2025 - The Company complied with the code provisions of the Corporate Governance Code in Appendix C1 Part 2 of the GEM Listing Rules for the six months ended June 30, 2025[94](index=94&type=chunk) [Directors' Securities Transactions](index=28&type=section&id=Directors'%20Securities%20Transactions) The Company adopted the required standard of dealings as set out in Rules 5.48 to 5.67 of the GEM Listing Rules for directors' securities transactions, and all directors confirmed compliance during the reporting period - The Company adopted the required standard of dealings as set out in Rules 5.48 to 5.67 of the GEM Listing Rules for directors' securities transactions[95](index=95&type=chunk) - All directors confirmed compliance with this standard for the six months ended June 30, 2025[95](index=95&type=chunk) [Audit Committee](index=28&type=section&id=Audit%20Committee) The Board's Audit Committee comprises three independent non-executive directors, with Mr. Poon Kai Kin as chairman, and the committee reviewed the unaudited condensed consolidated financial statements for the six months ended June 30, 2025, providing advice and recommendations - The Audit Committee comprises three independent non-executive directors, with Mr. Poon Kai Kin as chairman[96](index=96&type=chunk) - The committee's primary responsibilities include recommending the appointment and removal of external auditors, reviewing and overseeing financial statements, and supervising internal control procedures and risk management systems[97](index=97&type=chunk) - The Audit Committee reviewed the unaudited condensed consolidated financial statements for the six months ended June 30, 2025[97](index=97&type=chunk) [By Order of the Board](index=29&type=section&id=By%20Order%20of%20the%20Board) This announcement was issued by Mr. Chan Ka Kin, Chairman of the Board, on August 22, 2025, and the Board comprises four executive directors and three independent non-executive directors - This announcement was issued by Mr. Chan Ka Kin, Chairman of the Board, on **August 22, 2025**[98](index=98&type=chunk)[99](index=99&type=chunk) - The Board comprises four executive directors (Chan Ka Kin, Chan Ka On, Chan Ka Shing, Yeung Shek Shek) and three independent non-executive directors (Poon Kai Kin, Lau Kin Shing, Cheung Wang Ki)[99](index=99&type=chunk)

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準 確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生 或因倚賴該等內容而引致之任何損失承擔任何責任。 KOS International Holdings Limited 承董事會命 高奧士國際控股有限公司 主席 陳家健 香港，二零二五年八月十一日 於本公告日期，董事會包括四名執行董事，即是陳家健先生 ( 主席 ) 、陳家安先生、陳家成 先生及楊碩碩女士；及三名獨立非執行董事，即是潘啟健先生、劉健成博士及張宏基先生。 本公告的資料乃遵照《香港聯合交易所有限公司的 GEM 證券上市規則》而刊載，旨在提供 有關本公司的資料；各董事願就本公告的資料共同及個別地承擔全部責任。各董事在作出 一切合理查詢後，確認就其所知及所信，本公告所載資料在各重要方面均屬準確完備，沒 有誤導或欺詐成分，且並無遺漏任何事項，足以令本公告或其所載任何陳述產生誤導。 本公告將於其登載日起計最少一連七天登載於聯交所網站 www.hkexnews.hk 之「最新上市 公司公告」一頁內及本公司網站 www.kos-intl.com 內。 高奧 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 高奧士國際控股有限公司 呈交日期: 2025年8月4日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 08042 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 4,000,000,000 | HKD | | 0.01 | HKD | | 40,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 4,000,000,000 | HKD | | 0.01 | HKD | | 40,000,000 | 本月底法定/註冊股 ...

Revenue Performance - For the year ended December 31, 2024, the group's revenue increased by approximately HKD 69.7 million or 48.6% to approximately HKD 213.3 million, driven by strong performance in payroll and dispatch services [9]. - Total revenue increased from approximately HKD 143,566,000 for the year ended December 31, 2023, to approximately HKD 213,297,000 for the year ended December 31, 2024, representing a growth of about 48.6% [19]. - Revenue from recruitment services in Hong Kong decreased by approximately HKD 16.3 million or 24.0% to approximately HKD 51.6 million for the year ended December 31, 2024 [9]. - Revenue from recruitment services decreased from approximately HKD 84,789,000 in 2023 to about HKD 76,675,000 in 2024, representing a decline of 9.5% [34]. - Revenue from dispatch and payroll services in Hong Kong increased by approximately HKD 77,618,000 or 138.6%, from approximately HKD 56,005,000 for the year ended December 31, 2023, to approximately HKD 133,623,000 for the year ended December 31, 2024 [21]. - Revenue from recruitment services in mainland China increased by approximately HKD 3.5 million or 21.6% to approximately HKD 20.1 million for the year ended December 31, 2024 [9]. - Singapore recruitment revenue increased significantly from approximately HKD 365,000 in 2023 to approximately HKD 4,957,000 in 2024, a growth of about HKD 4,592,000 [25]. - The company's Hong Kong recruitment revenue decreased from 47.3% of total revenue in 2023 to 24.2% in 2024, while mainland China revenue accounted for 9.5% in 2024, down from 11.5% in 2023 [33]. Cost and Expenses - The cost of dispatched employees increased by approximately HKD 71.1 million or 138.8% to approximately HKD 122.3 million, aligning with the revenue growth in payroll and dispatch services [10]. - Employee costs rose by approximately HKD 68,074,000 or 56.9%, with dispatch employee costs increasing by about HKD 71,107,000 or 138.8% [39]. - The total employee cost for the year ending December 31, 2024, was approximately HKD 187,687,000, compared to about HKD 119,613,000 in 2023, indicating a significant increase [54]. Strategic Initiatives - The company plans to continue exploring new market opportunities and deepen its influence in existing markets, having established a new office in Shanghai in 2024 [12]. - The company aims to diversify revenue sources further, enhance operational efficiency, and solidify its market position in key regions [12]. - The company is actively seeking opportunities in human resources consulting services to provide comprehensive solutions for clients [12]. - The company plans to expand its operations in mainland China and Southeast Asia, with a new office established in Shanghai in 2024 [16]. - The company is focusing on diversifying its revenue sources and adapting to changing market dynamics by offering comprehensive HR solutions beyond traditional recruitment services [17]. - The company aims to strengthen its leadership position in the HR services industry through operational efficiency and data-driven decision-making [19]. - The company plans to focus resources on industries with strong recovery potential and invest in dedicated teams in Hong Kong, mainland China, and Singapore [30]. - The company will continue to explore new market opportunities and potential investments to align with its core business and provide synergies [30]. Financial Health - Net loss narrowed to approximately HKD 2,547,000 for the year ended December 31, 2024, compared to a net loss of approximately HKD 4,157,000 for the year ended December 31, 2023 [19]. - The capital-to-debt ratio increased to 17.6% in 2024 from 7.2% in 2023, with lease liabilities rising to approximately HKD 10,232,000 [46]. - The current ratio as of December 31, 2024, was approximately 3.6 times, down from 3.9 times in 2023 [45]. - The company did not recommend a final dividend for the year ending December 31, 2024 [44]. - As of December 31, 2024, the group had bank deposits of HKD 2,400,000, down from HKD 3,000,000 in 2023, which were pledged to secure bank financing [52]. Employee and Talent Management - The company continues to invest in talent development and employee engagement, recognizing that talent is the cornerstone of its success [12]. - The group had a total of 1,132 employees as of December 31, 2024, comprising 133 internal staff and 999 dispatched employees, up from 112 internal staff and 679 dispatched employees in 2023 [54]. - The company is committed to recruiting, training, and retaining top recruitment talent as part of its long-term organic growth strategy [30]. - The company has a commitment to providing equal opportunities in recruitment, training, and promotion regardless of gender [143]. Corporate Governance and Compliance - The company emphasizes the importance of compliance with legal and regulatory requirements, with no significant violations reported for the year ending December 31, 2024 [72]. - The company has adopted a culture of accountability, with clear objectives and regular performance evaluations for all employees [123]. - The board consists of seven members, including four executive directors and three independent non-executive directors, ensuring compliance with GEM listing rules [126]. - The company has complied with the corporate governance code as stipulated in the GEM Listing Rules for the year ended December 31, 2024 [120]. - The company has established mechanisms for directors to seek independent professional advice related to their duties [129]. Environmental, Social, and Governance (ESG) Initiatives - The company emphasizes the importance of environmental, social, and governance (ESG) factors, committing to sustainable development as a core operational focus [180]. - The company aims to create more job opportunities for vulnerable communities, including the disabled and elderly, while promoting employee rights and well-being [182]. - The group aims to reduce greenhouse gas emission density by 10% by 2032, based on 2022 as the baseline year [200]. - The company has identified key ESG risks, including emissions, resource consumption, and climate change impacts, and has implemented a top-down risk management framework [183]. - The company has not reported any significant non-compliance issues regarding air and greenhouse gas emissions during the reporting period [190]. Risk Management - The company faces risks related to labor shortages and increased employee costs, which could adversely affect its operations and financial performance [68]. - The audit committee reviewed the effectiveness of the group's risk management and internal control systems [147]. - The board confirmed that there are no significant internal control deficiencies identified during the review of the risk management and internal control systems [157].

Financial Performance - The total revenue for the year ended December 31, 2024, was HKD 213,297,000, an increase of 48.6% compared to HKD 143,566,000 for the year ended December 31, 2023[4] - Other income for the year was HKD 1,613,000, up from HKD 1,324,000, reflecting a growth of 21.8%[4] - The net loss for the year was HKD 2,547,000, a decrease in loss of 38.8% compared to HKD 4,157,000 in the previous year[4] - Total revenue for the year 2024 was HKD 213,297,000, an increase of 48.5% compared to HKD 143,566,000 in 2023[20] - The group reported a pre-tax loss of HKD 352,000 in 2024, compared to a profit of HKD 286,000 in 2023[28] - The group reported a net loss of approximately HKD 2,547,000 for the year ending December 31, 2024, an improvement from a net loss of approximately HKD 4,157,000 for the year ending December 31, 2023[43] Revenue Breakdown - Revenue from recruitment services in Hong Kong decreased to HKD 51,584,000 in 2024 from HKD 67,873,000 in 2023, a decline of 24%[20] - Revenue from dispatch and payroll services in Hong Kong increased significantly to HKD 133,623,000 in 2024 from HKD 56,005,000 in 2023, representing an increase of 138%[20] - Revenue from mainland China recruitment services increased by approximately HKD 3,583,000 or 21.6% to about HKD 20,134,000 for the year ending December 31, 2024, up from approximately HKD 16,551,000 for the year ending December 31, 2023[50] - Revenue from the Singapore recruitment business grew significantly, increasing from approximately HKD 365,000 to approximately HKD 4,957,000, a rise of about HKD 4,592,000[54] - Total revenue from Hong Kong for the year ending December 31, 2024, is approximately HKD 185,207,000, an increase of about HKD 61,329,000 or 49.5% from the previous year[65] Assets and Liabilities - Total assets as of December 31, 2024, amounted to HKD 83,702,000, compared to HKD 80,486,000 in 2023, indicating a growth of 2.8%[5] - Current assets decreased slightly to HKD 68,554,000 from HKD 68,639,000, a decline of 0.1%[5] - The company's total equity decreased to HKD 58,163,000 from HKD 61,229,000, representing a decline of 5.0%[6] - Non-current assets increased significantly to HKD 15,148,000 from HKD 11,847,000, a growth of 27.5%[5] - The capital debt ratio increased to 17.6% in 2024 from 7.2% in 2023, with lease liabilities amounting to approximately HKD 10,232,000[76] Employee Costs - The company's employee costs rose to HKD 187,687,000 from HKD 119,613,000, an increase of 56.8%[4] - Employee costs for the year ending December 31, 2024, are approximately HKD 187,687,000, accounting for 88.0% of revenue, up from 83.3% in the previous year[68] - Employee costs increased by approximately HKD 68,074,000 or 56.9%, with dispatch employee costs rising by approximately HKD 71,107,000 or 138.8%[69] Corporate Governance and Compliance - The company has complied with the corporate governance code as per GEM listing rules for the year ending December 31, 2024[91] - The financial statements for the year ending December 31, 2024, have been reviewed by the auditor, but no assurance has been provided for the preliminary results announcement[92] - The audit committee, consisting of three independent non-executive directors, has reviewed the consolidated financial statements for the year ending December 31, 2024[93] Future Outlook and Strategy - The company aims to focus resources on industries with strong recovery potential and invest in dedicated teams in Hong Kong, mainland China, and Singapore while closely monitoring performance and investment returns[57] - The company remains optimistic about the long-term growth prospects in the human resources industry across Hong Kong, mainland China, and Southeast Asia despite facing various challenges in 2024[55] - The group continues to invest in experienced recruitment personnel and industry experts to adapt to changing customer needs[42] - The company has strategically focused on expanding its service offerings beyond traditional recruitment services to provide comprehensive solutions, which has diversified its revenue sources[40] Dividends and Share Capital - The company did not declare any dividends for the year ended December 31, 2024, consistent with the previous year[32] - As of December 31, 2024, the company has issued a total of 800,000,000 ordinary shares at HKD 0.01 each, with no changes in share capital[78] Market Conditions - The company faced challenges in the Hong Kong market due to economic conditions, including decreased consumer spending and a weak property market, leading to reduced hiring activities across various industries[39] - The Hong Kong market's GDP growth decreased from 3.2% in 2023 to 2.5% in 2024, reflecting weak global demand and local consumption[44]

Revenue Performance - Revenue for the six months ended June 30, 2024, was HKD 93,037,000, representing a 39.9% increase from HKD 66,474,000 in the same period of 2023[2] - Total revenue for the six months ended June 30, 2024, was HKD 93,037,000, a significant increase from HKD 66,474,000 in the same period of 2023, representing a growth of approximately 40%[16] - Revenue from recruitment services in Hong Kong was HKD 26,352,000, while revenue from dispatch and payroll services in Hong Kong reached HKD 54,803,000, indicating strong performance in both segments[16] - Revenue from Hong Kong recruitment services decreased by approximately HKD 8,398,000 or 24.2% due to challenging market conditions[39] - Revenue from dispatch and payroll services increased significantly by approximately HKD 33,102,000 or 142.9%[39] - Revenue from mainland China recruitment services remained stable at approximately HKD 8,457,000, compared to HKD 8,425,000 in the same period last year[42] - Revenue from Singapore recruitment services surged by approximately HKD 1,827,000 or 1,438.6%, reaching approximately HKD 1,954,000[44] Financial Losses - The company reported a loss before tax of HKD 2,555,000 compared to a profit of HKD 1,828,000 in the previous year[2] - Total comprehensive loss for the period was HKD 2,693,000, contrasting with a total comprehensive income of HKD 812,000 in the prior year[2] - The company reported a loss attributable to owners of HKD 2,466,000 for the six months ended June 30, 2024, compared to a profit of HKD 1,127,000 in the same period of 2023[23] - The group recorded a net loss of approximately HKD 2,466,000 for the six months ending June 30, 2024, compared to a net profit of approximately HKD 1,127,000 for the same period in 2023[53] Employee Costs - Employee costs rose significantly to HKD 80,511,000, up 58.6% from HKD 50,811,000[2] - Employee costs amounted to approximately HKD 80,511,000 for the six months ending June 30, 2024, representing 86.5% of revenue, up from 76.4% in the same period in 2023[49] - The total number of dispatched employees increased to 671 as of June 30, 2024, from 271 as of June 30, 2023[49] - The company had 129 internal employees and 671 dispatched employees as of June 30, 2024, compared to 112 internal and 679 dispatched employees as of December 31, 2023[61] Asset Management - Non-current assets decreased to HKD 8,914,000 from HKD 11,847,000, a decline of 24.8%[3] - Current assets totaled HKD 63,593,000, down from HKD 68,639,000, a decrease of 7.5%[3] - The company's cash and cash equivalents at the end of the period were HKD 23,421,000, down from HKD 34,668,000, a reduction of 32.4%[3] - The net cash used in operating activities was HKD 7,994,000, compared to a net cash generated of HKD 1,940,000 in the previous year[13] - The total equity decreased to HKD 58,536,000 from HKD 61,229,000, a decline of 4.4%[4] - The company sold vehicles with a book value of approximately HKD 115,000, resulting in a loss of about HKD 11,000, indicating asset management challenges[25] - The company purchased property, plant, and equipment at a total cost of approximately HKD 226,000 during the six months ended June 30, 2024, a decrease from HKD 775,000 in the same period of 2023[25] Strategic Focus and Expansion - The group aims to expand its business in other regions of China and Southeast Asia, in addition to the Greater Bay Area[38] - The group is strategically focusing on expanding its dispatch and payroll services and recruitment business in Singapore to diversify revenue sources[38] - The company plans to establish a Shanghai office in 2024 to capture new business opportunities in mainland China[43] - The company aims to focus on industries with recovery potential and invest in dedicated teams in financial services and IT sectors in Hong Kong and mainland China[45] - The company is committed to expanding its human resources services and providing innovative solutions to meet changing customer needs[45] - The company has successfully diversified its revenue base, mitigating the impact of challenges faced in Hong Kong recruitment services[45] - The company remains optimistic about long-term growth prospects in the human resources industry across Hong Kong, mainland China, and Southeast Asia[45] Corporate Governance and Compliance - The audit committee, consisting of three independent non-executive directors, has reviewed the unaudited condensed consolidated financial statements for the six months ending June 30, 2024[73] - The company has complied with the corporate governance code, except for the absence of an independent non-executive director at the annual general meeting held on May 16, 2024[70] - The board of directors includes three executive directors and three independent non-executive directors as of the report date[74] Shareholder Information - Major shareholders KJE Limited and Caiden Holdings Limited each hold 600,000,000 shares, representing 75% of the issued share capital[64] - The total number of issued ordinary shares as of June 30, 2024, was 800,000,000 shares, each with a par value of HKD 0.01[57] - No share options have been granted, exercised, cancelled, or lapsed under the share option scheme since its adoption, with no unexercised options as of June 30, 2024[67] - The company has not established any arrangements for directors to acquire shares or bonds of the company or its subsidiaries during the six months ending June 30, 2024[68] - There are no interests held by directors or controlling shareholders in any business that competes directly or indirectly with the group[69] Dividends and Financial Commitments - The company did not recommend an interim dividend for the six months ended June 30, 2024, consistent with the previous year[24] - The company has no significant commitments for the acquisition of property, plant, and equipment as of June 30, 2024[25] - The company had no significant contingent liabilities as of June 30, 2024[60] - The company had no significant investments or plans for major capital assets as of June 30, 2024[58] Economic Environment and Market Conditions - The group faced significant challenges in the Hong Kong recruitment market, which has become increasingly competitive and unstable[38] - The group is prepared to adjust its plans and strategies to seize opportunities amid economic uncertainties[46]

Revenue Performance - Revenue for the six months ended June 30, 2024, was HKD 93,037,000, representing a 39.9% increase from HKD 66,474,000 in the same period of 2023[2] - For the six months ended June 30, 2024, the total revenue was HKD 93,037,000, a significant increase of 39.9% compared to HKD 66,474,000 for the same period in 2023[9] - Total revenue from major customers exceeding 10% of the group's total revenue amounted to HKD 10,837,000 for Customer A as of June 30, 2024[11] - The group’s revenue from Hong Kong accounted for approximately 87.2% of total revenue, up from 85.0% in the previous year[41] - Total revenue for the group increased by approximately HKD 26,563,000 or 40.0%, from approximately HKD 66,474,000 for the six months ended June 30, 2023, to approximately HKD 93,037,000 for the six months ended June 30, 2024[32] Segment Performance - The recruitment services segment in Hong Kong generated revenue of HKD 26,352,000, down 24.0% from HKD 34,750,000 in the previous year[9] - The dispatch and payroll services segment in Hong Kong saw a substantial increase in revenue to HKD 54,803,000, up 152.0% from HKD 21,725,000 in the prior year[9] - Revenue from Hong Kong recruitment services decreased by approximately HKD 8,398,000 or 24.2%, while revenue from dispatch and payroll services increased significantly by approximately HKD 33,102,000 or 142.9%[32] - Revenue from mainland China recruitment services remained relatively stable at approximately HKD 8,457,000 for the six months ended June 30, 2024, compared to approximately HKD 8,425,000 in the same period of 2023[35] - Revenue from Singapore's recruitment market increased significantly from approximately HKD 127,000 to about HKD 1,954,000, representing a growth of 1,438.6% year-on-year[37] Financial Performance - The net loss for the period was HKD 2,466,000 compared to a profit of HKD 1,127,000 in the previous year, indicating a shift in performance[2] - Basic and diluted loss per share was HKD 0.31, compared to earnings of HKD 0.14 per share in the previous year[2] - The company reported a total comprehensive income of HKD 812,000 for the six months ended June 30, 2023, which decreased to HKD 11,635,000 for the same period in 2024[5] - The group recorded a net loss of approximately HKD 2,466,000 for the six months ending June 30, 2024, compared to a profit of HKD 1,127,000 in the same period of 2023, primarily due to a decline in Hong Kong recruitment service revenue[47] - Other expenses and losses rose to approximately HKD 15,579,000 from HKD 13,732,000, primarily due to business expansion costs in Hong Kong, mainland China, and Singapore[44] Asset and Liability Management - Non-current assets decreased to HKD 8,914,000 from HKD 11,847,000, a decline of 24.8%[3] - Current assets decreased to HKD 63,593,000 from HKD 68,639,000, a reduction of 7.4%[3] - Current liabilities decreased to HKD 12,377,000 from HKD 17,574,000, a decrease of 29.5%[4] - The company's total equity decreased to HKD 58,536,000 from HKD 61,229,000, reflecting a decline of 4.4%[4] - The total assets as of June 30, 2024, amounted to HKD 58,536,000, compared to HKD 66,619,000 as of June 30, 2023[5] Cash Flow and Liquidity - The net cash used in operating activities for the six months ended June 30, 2024, was HKD (7,994,000), compared to HKD 1,940,000 generated in the same period of 2023[6] - The cash and cash equivalents at the end of June 30, 2024, were HKD 23,421,000, down from HKD 35,844,000 at the end of June 30, 2023[6] - As of June 30, 2024, the group had cash and bank balances of approximately HKD 23,421,000, down from HKD 34,668,000 as of December 31, 2023[49] - The current ratio as of June 30, 2024, was approximately 5.1 times, an increase from 3.9 times as of December 31, 2023[49] - The debt-to-equity ratio was 4.4% as of June 30, 2024, down from 7.2% as of December 31, 2023[49] Employee and Management Costs - Employee costs rose significantly to HKD 80,511,000, up from HKD 50,811,000, reflecting a 58.6% increase[2] - The total compensation for key management personnel was HKD 3,722,000 for the six months ended June 30, 2024, compared to HKD 4,124,000 for the same period in 2023, a decrease of 9.7%[30] - Employee costs amounted to approximately HKD 80,511,000, representing 86.5% of revenue, an increase from HKD 50,811,000 or 76.4% in the previous year[43] - The total number of dispatched employees increased significantly to 671 from 271 in the previous year, contributing to a rise in dispatch employee costs by approximately HKD 29,492,000 or 144.8%[43] - The accrued payroll expenses were HKD 7,726,000 as of June 30, 2024, compared to HKD 10,605,000 as of December 31, 2023, reflecting a decrease of 27.8%[24] Strategic Initiatives - The company plans to continue expanding its dispatch and payroll services, particularly in Hong Kong and Macau, to leverage the growth in demand[10] - The group aims to expand its service offerings in Southeast Asia and other regions in China, focusing on comprehensive human resource solutions[31] - The company plans to establish an office in Shanghai in 2024 to capture new business opportunities in mainland China[36] - The company is committed to expanding its human resources services and providing innovative solutions to meet changing customer needs[38] - The company will strengthen its internal marketing teams in Hong Kong and mainland China to enhance brand recognition through digital and social media platforms[38] Governance and Compliance - The company has complied with the corporate governance code except for the absence of an independent non-executive director at the annual general meeting due to personal matters[65] - The Audit Committee has reviewed the unaudited condensed consolidated financial statements for the six months ending June 30, 2024[67] - The Audit Committee consists of three independent non-executive directors, with Mr. Pan Kai Jian as the chairman[67] - The main responsibilities of the Audit Committee include reviewing financial statements and overseeing internal control procedures[67] - The company has confirmed compliance with the trading rules for directors for the six months ending June 30, 2024[66]

Financial Performance - For the year ended December 31, 2023, the total revenue was HKD 143,566,000, representing an increase of 13.93% compared to HKD 125,965,000 for the year ended December 31, 2022[5]. - The company reported a net loss of HKD 4,157,000 for the year ended December 31, 2023, compared to a profit of HKD 14,047,000 in the previous year, indicating a significant decline in profitability[5]. - The company reported a loss before tax of HKD 4,157,000 for the year ending December 31, 2023, compared to a profit of HKD 14,047,000 in 2022[40]. - The group recorded a net loss of approximately HKD 4,157,000 and total comprehensive expenses of about HKD 4,578,000 for the year ended December 31, 2023, compared to a net profit of approximately HKD 14,047,000 for the previous year[77]. - Total revenue for the year ending December 31, 2023, increased by approximately HKD 17,601,000 or 14.0% to about HKD 143,566,000 compared to the previous year[49]. Revenue Breakdown - Revenue from recruitment services in Hong Kong decreased to HKD 67,873,000 in 2023 from HKD 78,150,000 in 2022, a decline of about 13.3%[29]. - Revenue from dispatch and payroll services in Hong Kong increased significantly to HKD 56,005,000 in 2023 from HKD 23,429,000 in 2022, marking a growth of approximately 139%[29]. - Revenue from recruitment services decreased, primarily due to adjustments in the job market supply and demand dynamics in Hong Kong and Mainland China[65]. - Recruitment service revenue in Hong Kong decreased by approximately HKD 10,277,000 or 13.2% to approximately HKD 67,873,000 for the year ended December 31, 2023, down from approximately HKD 78,150,000 for the year ended December 31, 2022[66]. - Recruitment revenue from mainland China decreased by approximately HKD 5,434,000 or 24.7% to about HKD 16,551,000 for the year ending December 31, 2023[56]. Employee Costs - Employee costs increased to HKD 119,613,000 from HKD 88,201,000, reflecting a rise of 35.66% year-on-year[5]. - Total employee costs rose to HKD 119,613,000 in 2023 from HKD 88,201,000 in 2022, reflecting an increase in salaries and benefits[35]. - Employee costs, including director remuneration, were approximately HKD 119,613,000 for the year, up from approximately HKD 88,201,000 in 2022[90]. Assets and Liabilities - Total assets decreased to HKD 68,639,000 as of December 31, 2023, down from HKD 75,627,000 in 2022, showing a decline of 9.66%[7]. - The company's cash and cash equivalents decreased to HKD 34,668,000 from HKD 42,734,000, a reduction of 18.93%[7]. - The total equity decreased to HKD 61,229,000 in 2023 from HKD 65,807,000 in 2022, representing a decline of 6.93%[8]. - The company’s non-current assets decreased to HKD 11,847,000 from HKD 16,045,000, a decline of 26.06%[7]. - The company’s current liabilities decreased to HKD 17,574,000 from HKD 21,850,000, a reduction of 19.93%[7]. Other Income and Expenses - The company reported other income of HKD 1,324,000, down from HKD 2,419,000, indicating a decrease of 45.49%[5]. - Other income decreased to HKD 1,324,000 in 2023 from HKD 2,419,000 in 2022, with significant drops in government subsidies from HKD 2,116,000 to HKD 233,000 and investment income from HKD 41,000 to HKD 21,000[32]. - Total other expenses and losses increased by approximately HKD 6,031,000 or 27.1%, reaching about HKD 28,289,000 for the year ended December 31, 2023[74]. Corporate Governance and Compliance - The company has complied with the corporate governance code as per GEM listing rules for the year ending December 31, 2023[99]. - The financial statements for the year ending December 31, 2023, have been reviewed and confirmed by the auditor, Debo CPA Limited[100]. - The audit committee, consisting of three independent non-executive directors, has reviewed the consolidated financial statements and the annual performance announcement[103]. - The board of directors includes three executive directors and three independent non-executive directors, ensuring a balanced governance structure[105]. Future Outlook and Strategy - The company aims to expand its operations in mainland China and Southeast Asia, with a focus on becoming a leading HR service provider in these regions[46]. - The company plans to establish an office in Shanghai in 2024 to capture new business opportunities and expand its market coverage in Mainland China[57]. - The company intends to maintain a healthy cash flow and manage liquidity prudently while enhancing its internal marketing teams in Hong Kong, Mainland China, and Singapore[60]. - The company recognizes the significant potential in the human resources services market in Hong Kong, Mainland China, and Southeast Asia, with plans to consider expansion into other cities under suitable conditions[59]. - The company is committed to creating long-term value and enhancing corporate social value as a listed company and human resources service provider[60].

Financial Performance - For the three months ended September 30, 2023, the company reported revenue of HKD 39,150,000, a 18.5% increase from HKD 33,020,000 in the same period of 2022[3] - For the nine months ended September 30, 2023, total revenue reached HKD 105,624,000, up 11.5% from HKD 94,795,000 year-on-year[3] - The company's profit before tax for the three months ended September 30, 2023, was HKD 1,339,000, a decrease of 81.8% compared to HKD 7,354,000 in the same quarter of 2022[3] - The net profit for the nine months ended September 30, 2023, was HKD 2,133,000, down 88.5% from HKD 18,518,000 in the same period of 2022[3] - The company reported a total comprehensive income of HKD 930,000 for the three months ended September 30, 2023, compared to HKD 5,858,000 in the same period of 2022[3] - Total comprehensive income for the nine months ended September 30, 2023, decreased by approximately HKD 16,132,000 or 90.3% to approximately HKD 1,742,000 compared to HKD 17,874,000 for the same period in 2022[40] Revenue Breakdown - Revenue from recruitment services in Hong Kong for the three months ended September 30, 2023, was HKD 20,473,000, a decrease of 10.6% from HKD 22,769,000 in the previous year[12] - The company reported a significant increase in revenue from dispatch and payroll services in Hong Kong, which rose to HKD 13,816,000 for the three months ended September 30, 2023, compared to HKD 5,201,000 in the same period of 2022[12] - For the nine months ended September 30, 2023, revenue from recruitment services decreased by approximately HKD 9,503,000 or 12.3%, while revenue from dispatch and payroll services significantly increased by approximately HKD 20,332,000 or 117.6%[22] - Recruitment service revenue decreased by approximately HKD 9,503,000 or 12.3% to about HKD 68,001,000 for the nine months ended September 30, 2023, from HKD 77,504,000 in the previous year[30] - The revenue from dispatch and payroll services increased by approximately HKD 20,332,000 or 117.6% to about HKD 37,623,000 for the nine months ended September 30, 2023[31] Employee Costs - Employee costs for the three months ended September 30, 2023, increased to HKD 31,327,000, a 58.5% rise from HKD 19,759,000 in the previous year[3] - Employee costs rose to approximately HKD 82,138,000 for the nine months ended September 30, 2023, representing 77.8% of total revenue, compared to 60.4% in the previous year[34] - The decrease in comprehensive income is attributed to three main factors: (i) a reduction in recruitment service revenue reflecting changes in the employment market dynamics; (ii) increased employee costs due to expansion and hiring in Hong Kong and Singapore; and (iii) the Singapore business is still in its early stages and requires time to establish in the local market[40] Future Outlook and Strategy - The company has not disclosed specific future outlook or guidance in the provided documents[3] - The company aims to capture more business opportunities through its agile teams in Hong Kong and mainland China, despite challenges in the recruitment industry[20] - The company plans to focus on industries with recovery potential and invest in dedicated teams for recruitment services in Hong Kong, mainland China, and Singapore[29] - The company is focusing on enhancing its team in mainland China to adapt to the rapidly changing environment and maintain high-quality professional services[24] Corporate Governance - The company has complied with the corporate governance code as set out in the GEM Listing Rules during the nine months ended September 30, 2023[55] - All directors confirmed compliance with the trading standards and the relevant code of conduct for securities transactions during the nine months ended September 30, 2023[56] - The Audit Committee was established on September 13, 2018, in accordance with GEM Listing Rule 5.28 and is currently composed of three independent non-executive directors[57] - The main responsibilities of the Audit Committee include reviewing and supervising financial statements and financial reporting, as well as monitoring internal control procedures and risk management systems[58] - The Audit Committee has reviewed the unaudited condensed consolidated financial statements for the nine months ended September 30, 2023, and provided opinions and recommendations on them[58] Shareholder Information - As of September 30, 2023, KJE Limited and Caiden Holdings Limited each hold 600,000,000 shares, representing approximately 75% of the issued share capital[47] - The shares held by KJE Limited are owned by Mr. Chan Ka Kin, Mr. Chan Ka On, and Mr. Chan Ka Sing, each holding approximately 33.33%[45] - No share options have been granted, exercised, cancelled, or lapsed under the share option scheme since its adoption on September 13, 2018, and there are no unexercised share options as of September 30, 2023[50] - The company and its subsidiaries did not purchase, sell, or redeem any of the company's listed securities during the nine months ended September 30, 2023[53] Dividends - The board did not recommend the payment of an interim dividend for the nine months ended September 30, 2023, compared to no dividend in 2022[18] - The board does not recommend the payment of an interim dividend for the nine months ended September 30, 2023[41]