Financial Performance - The group's revenue for the three months ended June 30, 2019, was approximately HKD 159,388,000, a decrease of 53.5% compared to HKD 342,384,000 for the same period in 2018[3] - The group's profit for the period was approximately HKD 4,211,000, down 37.4% from HKD 6,738,000 in the previous year[3] - The profit attributable to equity holders of the company was approximately HKD 5,085,000, compared to HKD 7,234,000 in 2018, representing a decline of 29.6%[3] - Basic earnings per share for the period were approximately HKD 0.12 cents, down from HKD 0.22 cents in the same period last year[3] - The total comprehensive income for the period was HKD 6,391,000, compared to HKD 17, indicating a significant decline[5] - The company's net profit attributable to shareholders for the period was approximately HKD 5,085,000, a decrease from HKD 7,234,000 in the same period last year, representing a decline of about 29.6%[29] - Total revenue for the period decreased to approximately HKD 159,388,000, compared to HKD 342,384,000 in the same period last year, indicating a decline of approximately 53.5%[27] - The gross profit for the period was approximately HKD 18,032,000, down from HKD 21,919,000 in the same period last year, reflecting a decrease of about 17.5%[27] Revenue Breakdown - Revenue from supply chain management services was HKD 153,919,000, a decrease of 54.4% from HKD 337,690,000 in 2018[13] - Revenue from marine fishing business increased to HKD 5,429,000, up 54.5% from HKD 3,513,000 in the previous year[13] Expenses and Tax - The group incurred a tax expense of HKD 822,000 for the period, compared to HKD 4,650,000 in the previous year[15] - Administrative expenses decreased slightly from HKD 14,000,000 in the previous year to approximately HKD 12,000,000, as the company plans to expand its operations in Mozambique and Cambodia[29] - The group has a total employee cost of approximately HKD 3,700,000 for the period, compared to approximately HKD 3,300,000 in the previous year, reflecting an increase of about 12.1%[37] Assets and Liabilities - The company’s total assets as of June 30, 2019, were approximately HKD 1,678,091,000, a slight decrease from HKD 1,693,051,000 as of March 31, 2019[30] - The company’s bank borrowings amounted to approximately HKD 37,500,000 as of June 30, 2019, up from HKD 28,953,000 as of March 31, 2019[30] - The group has no contingent liabilities as of June 30, 2019[36] Dividends - The company did not declare any dividends for the period, consistent with the previous year[3] - The company did not recommend any dividend payment for the period, consistent with the previous year[22] Corporate Governance - The company has adopted a set of guidelines for directors' securities trading, ensuring compliance with GEM Listing Rules standards throughout the reporting period[57] - The audit committee, consisting of three independent non-executive directors, is responsible for reviewing and supervising the group's financial reporting procedures and internal controls[59] - The company has implemented the corporate governance code as per GEM Listing Rules, with ongoing reviews of its governance structure for potential adjustments[58] - The roles of the chairman and CEO are currently held by the same individual, Liu Rongsheng, which the board believes provides strong and consistent leadership for long-term business planning[58] - The company has confirmed that its directors and major shareholders do not hold any interests in competing businesses during the reporting period[54] Strategic Initiatives - The company is expanding its seafood supply chain management services and has established strategic partnerships to enhance its operations in import and export trade, logistics, and storage[25] - The group is actively seeking investment and business opportunities to expand revenue sources and enhance shareholder value, particularly in the deep-sea fishing business[34] Employment - As of June 30, 2019, the group employed 160 staff members, an increase from 148 in the previous year, representing an increase of 8.1%[37] Financial Instruments - The group has no foreign exchange contracts or financial derivatives for hedging purposes as of June 30, 2019[31] - The group has no significant foreign exchange risk due to its treasury policy of holding bank deposits primarily in HKD or local currencies[31] - The group has not granted any stock options since the adoption of the stock option plan in October 2011[46] - The group has not made any significant investments, acquisitions, or disposals of subsidiaries during the period[35] - The group has not purchased, redeemed, or sold any of its listed securities during the period[52]

China Ocean Fishing Holdings Limited 中國海洋捕撈控股有限公司 (Incorporated in Bermuda with limited liability) （於百慕達註冊成立之有限公司） （Stock Code股份代號：8047） 2018-2019 Annual Report 年 報 China Oce an Fishin g H oldings Limited 中國海洋捕撈控股有限公 司 Annual Report 年報 2018-2019 2018-2019 Annual Report 年 報 CHARACTERISTICS OF GEM OF THE STOCK EXCHANGE OF HONG KONG LIMITED (THE "STOCK EXCHANGE") GEM has been positioned as a market designed to accommodate small and mid-sized companies to which a higher investment risk may be attached than othe ...

[Report Summary](index=3&type=section&id=I.%20Report%20Summary) [Summary](index=3&type=section&id=Summary) Financial performance for the nine months ended December 31, 2018, shows decreased revenue but increased profit and equity holders' profit; no dividend recommended. Key Financial Indicators for the Nine Months Ended December 31, 2018 | Metric | 2018 (HKD) | 2017 (HKD) | Y-o-Y Change | | :--- | :--- | :--- | :--- | | Revenue | 778,853,000 | 823,932,000 | -5.5% | | Profit | 28,804,000 | 24,094,000 | +19.5% | | Profit Attributable to Equity Holders of the Company | 24,739,000 | 22,217,000 | +11.3% | | Basic Earnings Per Share | 0.67 Cents | 0.87 Cents | -23.0% | - The Board does not recommend the payment of any dividend (2017: nil)[4](index=4&type=chunk) [Financial Results](index=4&type=section&id=II.%20Financial%20Results) [Condensed Consolidated Statement of Comprehensive Income](index=4&type=section&id=Condensed%20Consolidated%20Statement%20of%20Comprehensive%20Income) Unaudited consolidated statements of comprehensive income for the nine and three months ended December 31, 2018, detail key financial data. Key Financial Performance for the Nine Months Ended December 31, 2018 | Metric | 2018 (HKD Thousand) | 2017 (HKD Thousand) | Y-o-Y Change | | :--- | :--- | :--- | :--- | | Revenue | 778,853 | 823,932 | -5.5% | | Cost of Services Provided and Goods Sold | (712,158) | (778,307) | -8.5% | | Gross Profit | 66,695 | 45,625 | +46.2% | | Other Income | 21,932 | 9,160 | +139.4% | | Administrative Expenses | (36,876) | (21,707) | +69.9% | | Profit Before Tax | 30,315 | 31,285 | -3.1% | | Income Tax Expense | (1,511) | (7,191) | -79.0% | | Profit for the Period | 28,804 | 24,094 | +19.5% | | Profit Attributable to Equity Holders of the Company | 24,739 | 22,217 | +11.3% | | Profit Attributable to Non-controlling Interests | 4,065 | 1,877 | +116.6% | Key Financial Performance for the Three Months Ended December 31, 2018 | Metric | 2018 (HKD Thousand) | 2017 (HKD Thousand) | Y-o-Y Change | | :--- | :--- | :--- | :--- | | Revenue | 231,202 | 418,337 | -44.8% | | Gross Profit | 17,668 | 20,034 | -11.8% | | Profit Before Tax | 15,232 | 13,902 | +9.6% | | Profit for the Period | 14,401 | 10,578 | +36.1% | | Profit Attributable to Equity Holders of the Company | 14,903 | 8,701 | +71.3% | - Total Comprehensive (Loss) / Income for the Period was **HKD (42,780) Thousand**, while the **2017** period was **HKD 26,149 Thousand**, primarily due to Exchange Differences on Consolidation **(71,584) Thousand**[14](index=14&type=chunk)[15](index=15&type=chunk) [Earnings Per Share](index=5&type=section&id=Earnings%20Per%20Share) This section details basic and diluted earnings per share for the nine and three months ended December 31, 2018, including convertible bond impact. Earnings Per Share (Nine Months Ended December 31) | Metric | 2018 | 2017 | Y-o-Y Change | | :--- | :--- | :--- | :--- | | Basic EPS | HKD 0.67 Cents | HKD 0.87 Cents | -23.0% | | Diluted EPS | HKD 0.66 Cents | HKD 0.75 Cents | -12.0% | Earnings Per Share (Three Months Ended December 31) | Metric | 2018 | 2017 | Y-o-Y Change | | :--- | :--- | :--- | :--- | | Basic EPS | HKD 0.37 Cents | HKD 0.30 Cents | +23.3% | | Diluted EPS | HKD 0.37 Cents | HKD 0.30 Cents | +23.3% | - Diluted earnings calculation for **2018** nine months adjusted for convertible bond interest (net of tax), with no such adjustment in the **2017** corresponding period[38](index=38&type=chunk) [Notes to Financial Statements](index=6&type=section&id=III.%20Notes%20to%20Financial%20Statements) [1. Company Information](index=6&type=section&id=1.%20Company%20Information) This section outlines the company's registration, listing, registered office, principal place of business, and primary business activities. - The Company was incorporated in Bermuda as an exempted company on **June 7, 2001**, with shares listed on GEM of the Hong Kong Stock Exchange[26](index=26&type=chunk) - Main businesses: investment holding, with subsidiaries primarily engaged in supply chain management services, money lending, and marine fishing[26](index=26&type=chunk) [2. Compliance Statement](index=6&type=section&id=2.%20Compliance%20Statement) This section explains that the unaudited condensed consolidated financial information is prepared based on GEM Listing Rules and reviewed by the Audit Committee, but not audited. - Financial information prepared according to GEM Listing Rules, unaudited but reviewed by the Company's Audit Committee[27](index=27&type=chunk) - Accounting policies consistent with audited consolidated financial statements for the year ended **March 31, 2018**[27](index=27&type=chunk) [3. Revenue and Other Income](index=7&type=section&id=3.%20Revenue%20and%20Other%20Income) This section details the Group's revenue composition for the reporting period, including supply chain management services, goods sales from marine fishing, and interest income from customer loans. Revenue Composition (Nine Months Ended December 31) | Business Type | 2018 (HKD Thousand) | 2017 (HKD Thousand) | Y-o-Y Change | | :--- | :--- | :--- | :--- | | Supply Chain Management Services | 735,076 | 803,831 | -8.6% | | Marine Fishing Business | 42,297 | 6,928 | +510.5% | | Interest Income from Loans to Customers | 1,480 | 13,173 | -88.8% | | **Total Revenue** | **778,853** | **823,932** | **-5.5%** | - Marine fishing business revenue grew significantly, while supply chain management services and money lending interest income decreased[29](index=29&type=chunk) [4. Other Income](index=8&type=section&id=4.%20Other%20Income) This section provides a breakdown of the Group's other income for the reporting period, including interest income from other loans, government grants, and miscellaneous income. Other Income (Nine Months Ended December 31) | Income Type | 2018 (HKD Thousand) | 2017 (HKD Thousand) | Y-o-Y Change | | :--- | :--- | :--- | :--- | | Interest Income from Other Loans | 9,720 | 2,160 | +350.0% | | Government Grants Income | 6,559 | 6,295 | +4.2% | | Miscellaneous Income | 5,653 | 705 | +701.8% | | **Total Other Income** | **21,932** | **9,160** | **+139.4%** | - Interest income from other loans and miscellaneous income increased significantly, driving a substantial rise in total other income[31](index=31&type=chunk) [5. Income Tax Expense](index=8&type=section&id=5.%20Income%20Tax%20Expense) This section details the Group's income tax expense for the reporting period, including Hong Kong Profits Tax and PRC Enterprise Income Tax, along with applicable tax rates. Income Tax Expense (Nine Months Ended December 31) | Tax Type | 2018 (HKD Thousand) | 2017 (HKD Thousand) | Y-o-Y Change | | :--- | :--- | :--- | :--- | | Hong Kong Profits Tax | 500 | 1,541 | -67.5% | | PRC Enterprise Income Tax | 1,011 | 5,650 | -82.1% | | **Tax Deducted for the Period** | **1,511** | **7,191** | **-79.0%** | - Hong Kong Profits Tax is provisioned at a rate of **16.5%**, and PRC Enterprise Income Tax is calculated at the applicable tax rate[32](index=32&type=chunk)[33](index=33&type=chunk) [7. Dividends](index=10&type=section&id=7.%20Dividends) The Board