Corporate Governance - The Nomination Committee was established on March 21, 2012, to assist the Board in the appointment of Board members[1]. - The Nomination Committee comprises three members, including two independent non-executive directors and one executive director, with Mr. Lam Tin Faat serving as the chairman[2]. - The Committee reviewed the existing Board's structure, size, and composition, and assessed the independence of the independent non-executive directors during the year[3]. - The Board consists of six directors, with three being independent non-executive directors, promoting critical review and control of the management process[11]. - The Company has adopted a Board diversity policy, considering factors such as age, cultural background, and professional experience to enhance performance quality[8]. - The Company Secretary facilitates communication between the Board and management, ensuring governance matters are addressed[12]. - The Group is committed to enhancing governance and fulfilling social responsibility to achieve sustainable growth[66]. - The Group has established multiple communication channels with shareholders, including annual reports and meetings[53]. - The company has established good corporate governance practices, detailed in the Corporate Governance Report on pages 11 to 23[162]. - The company is committed to maintaining adequate public float and corporate governance standards[157]. Financial Performance - For the year ended December 31, 2022, the auditors provided annual audit services for HK$900,000, an increase from HK$860,000 in 2021[24]. - The Group's financial performance and position as of December 31, 2022, are detailed in the consolidated financial statements on pages 43 to 145[72]. - The Group does not recommend payment of any dividend for the year ended December 31, 2022, consistent with the previous year[64]. - No dividends were recommended for the year ended December 31, 2022, consistent with the previous year[72]. - As of December 31, 2022, the Company had no distributable reserves[83]. - There were no movements in the Company's share capital during the year ended December 31, 2022[85]. Internal Control and Risk Management - The Group's internal control system is designed to manage risk rather than eliminate it, providing reasonable assurance against material misstatement or loss[31]. - The Audit Committee is satisfied with the effectiveness of the internal control system based on assessments made by the Board and senior management[30]. - The Group's internal control and accounting systems are designed to provide reasonable assurance that material assets are protected and business risks are identified and monitored[35]. - The Group's risk management and internal control systems are continuously reviewed for effectiveness[36]. - The Group's ongoing process for identifying and managing significant risks is in place[36]. Shareholder Information - The 2023 Annual General Meeting is scheduled for June 20, 2023, with further information to be dispatched to shareholders[44]. - At least 25% of the Company's total issued share capital was held by the public as of the date of the annual report[142]. - The interests and short positions of Directors and the Chief Executive Officer in the Company's shares as of December 31, 2022, are recorded in the register maintained by the Company[108]. - Ms. Li Xia holds 804,159,697 shares, representing 41.29% of the issued share capital of the Company[110]. - Mr. Chen Yin holds 149,455,740 shares, representing 7.67% of the issued share capital of the Company[110]. - CK Hutchison is deemed to be interested in a total of 143,233,151 shares, representing 7.35% of the issued share capital of the Company[117]. - The aggregate turnover from the Group's five largest customers accounted for approximately 58% of the total turnover, with the largest customer contributing about 22%[125]. - The Group's five largest suppliers accounted for approximately 100% of total purchases, with the largest supplier representing about 69% of total purchases[125]. Audit and Remuneration Committees - The Audit Committee met quarterly during the year ended December 31, 2022, to review financial reporting and internal control procedures[141]. - The Audit Committee reviewed the unaudited quarterly and interim results and audited annual results for the year ended December 31, 2022, ensuring compliance with applicable accounting standards[174]. - The Audit Committee recommended the re-appointment of Grant Thornton Hong Kong Limited as the auditor, subject to shareholder approval at the annual general meeting[176]. - The Remuneration Committee reviews the Group's remuneration policy based on operating results and market practices[97]. - The Remuneration Committee reviewed and recommended remuneration packages for executive directors and senior management during the year[181]. Credit Risk Management - The company has a contract asset recognized when revenue is recognized before unconditional entitlement to consideration, assessed for expected credit loss (ECL) based on shared credit risk characteristics[182]. - The Group measures the loss allowance for other receivables equal to 12-month ECL unless there is a significant increase in credit risk, in which case lifetime ECL is recognized[183]. - The Group presumes that credit risk has increased significantly when contractual payments are more than 30 days past due, unless there is reasonable evidence to the contrary[194]. - A debt instrument is considered to have low credit risk if it has a low risk of default and the borrower has a strong capacity to meet its contractual cash flow obligations in the near term[194]. - The Group assesses whether credit risk has increased significantly by comparing the risk of default at the reporting date with the risk at initial recognition, considering both quantitative and qualitative information[189]. - Significant deterioration in external market indicators, such as credit spreads and credit default swap prices, is taken into account when assessing credit risk[189]. - The Group considers an event of default to occur when the debtor is unlikely to pay its creditors in full or when financial assets are 90 days past due[195]. - Detailed analysis of expected credit loss assessments for trade receivables, contract assets, and other financial assets is provided in note 35.4 of the financial statements[195]. Inventory Management - Inventory is recorded at the lower of cost and net realizable value, using the first-in, first-out method[199].

YU TAK INTERNATIONAL HOLDINGS LIMITED 御德國際控股有限公司 （於百慕達註冊成立之有限公司） （股份代號：08048） 截至二零二二年十二月三十一日止年度之 經審核全年業績公告 香港聯合交易所有限公司（「聯交所」）GEM之特色 GEM的定位，乃為相比起其他在聯交所上市的公司帶有較高投資風險的中小型公司提供 一個上市的市場。有意投資的人士應了解投資於該等公司的潛在風險，並應經過審慎周 詳的考慮後方作出投資決定。 由於GEM上市公司一般為中小型公司，在GEM買賣之證券可能會較於聯交所主板買賣 的證券承受較大之市場波動風險，同時無法保證在GEM買賣的證券會有高流通量的市 場。 香港交易及結算所有限公司及聯交所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份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。 本公告乃遵照聯交所GEM證券上市規則（「GEM上市規則」）的規定而提供有關御德國際控 股有限公司（「本公司」）之資料。本公司之董事（「董事」）願就本公告所載資料共同及個別 承擔全部責任。董事在作出一切合理查詢後，確認就 ...

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份內容而 產生或因倚賴該等內容而引致之任何損失承擔任何責任。 本公告僅供參考，並不構成收購、購買或認購本公司任何股份的邀請或要約。 YU TAK INTERNATIONAL HOLDINGS LIMITED 御德國際控股有限公司 （於百慕達註冊成立之有限公司） （股份代號：08048） 有關截至二零二二年十二月三十一日止年度 年報發佈日期之公告 繼二零二三年三月三十一日所發放的截至二零二二年十二月三十一日止年度之全年未經 審計的業績公告，公司考慮到核數工作的最新進度，目前預計將於二零二三年四月二十 一日發佈二零二二年度年報。 如未來公司對年報發佈日的預期有任何改變，公司將連同其它需要更新事項進一步作出 公告。 承董事會命 御德國際控股有限公司 主席 ...

YU TAK INTERNATIONAL HOLDINGS LIMITED 御德國際控股有限公司 （於百慕達註冊成立之有限公司） （股份代號：08048） 截至二零二二年十二月三十一日止年度之 全年業績（未經審核）公告 香港聯合交易所有限公司（「聯交所」）GEM之特色 GEM的定位，乃為相比起其他在聯交所上市的公司帶有較高投資風險的中小型公司提供 一個上市的市場。有意投資的人士應了解投資於該等公司的潛在風險，並應經過審慎周 詳的考慮後方作出投資決定。 由於GEM上市公司一般為中小型公司，在GEM買賣之證券可能會較於聯交所主板買賣 的證券承受較大之市場波動風險，同時無法保證在GEM買賣的證券會有高流通量的市 場。 香港交易及結算所有限公司及聯交所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份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。 本公告乃遵照聯交所GEM證券上市規則（「GEM上市規則」）的規定而提供有關御德國際控 股有限公司（「本公司」）之資料。本公司之董事（「董事」）願就本公告所載資料共同及個別 承擔全部責任。董事在作出一切合理查詢後， ...

Financial Performance - Total revenue for the third quarter of 2022 was HKD 3,394,000, a decrease of 19.4% compared to HKD 4,213,000 in the same period of 2021[9] - Revenue from enterprise software products was HKD 2,392,000, down 32.4% from HKD 3,550,000 year-on-year[17] - The company reported a net loss of HKD 1,479,000 for the third quarter, compared to a loss of HKD 1,767,000 in the same quarter of 2021, representing a 16.3% improvement[11] - For the nine months ended September 30, 2022, total revenue was HKD 11,712,000, down 40.1% from HKD 19,571,000 in the previous year[9] - The company reported a loss attributable to shareholders of HKD 6,618,000 for the nine months ended September 30, 2022, compared to a loss of HKD 11,662,000 in the same period last year, representing a 43.5% improvement[29] - Revenue for the nine months ended September 30, 2022, was HKD 11,712,000, a decrease of 40% from HKD 19,571,000 in the previous year[29] - The total comprehensive loss for the third quarter was HKD 1,479,000, compared to a loss of HKD 370,000 in the same quarter of the previous year[11] - The company recorded a total comprehensive loss of HKD 6,618,000 for the period[29] Expenses - The company incurred professional fees of HKD 1,331,000 in the third quarter, an increase of 41.0% from HKD 944,000 in the same period last year[9] - Employee benefit expenses for the third quarter were HKD 2,659,000, a decrease of 26.8% compared to HKD 3,627,000 in the previous year[9] Revenue Sources - Revenue from gold and jewelry product sales was HKD 209,000, down from HKD 5,596,000 in the previous year[29] - Revenue from enterprise software product sales decreased by approximately 20%, from HKD 10,736,000 to HKD 8,609,000[29] Shareholder Information - As of September 30, 2022, Haitong Investment Limited holds 804,159,697 shares, representing 41.29% of the company's issued share capital[39] - Ms. Li Xia also holds 804,159,697 shares, equivalent to 41.29% of the company's issued share capital through controlled companies[39] - Shengyu Limited owns 149,455,740 shares, accounting for 7.67% of the company's issued share capital[40] - Mr. Chen Yin holds 149,455,740 shares through controlled companies, representing 7.67% of the company's issued share capital[40] - Cheung Kong Holdings Limited has an interest in 143,233,151 shares, which is 7.35% of the company's issued share capital[41] - The average number of ordinary shares in issue during the nine months was 1,947,690,000, unchanged from the previous year[24] Corporate Governance - The company has adhered to the corporate governance code as per GEM Listing Rules Appendix 15 during the period ending September 30, 2022[44] - The Audit Committee has reviewed the unaudited consolidated results for the nine months ending September 30, 2022, confirming compliance with applicable accounting standards[45] - The company has established a remuneration committee and a nomination committee to ensure proper governance and oversight[47][48] - The board of directors includes Ms. Li Xia, Mr. Zhuang Ruping, Mr. Chen Yin, and three independent non-executive directors[53] Market Conditions - The gold price fluctuated, starting at USD 1,806 per ounce at the beginning of 2022 and dropping to USD 1,664 per ounce by the end of the third quarter[31] - The management anticipates a partial recovery in the jewelry business driven by the traditional sales season despite a challenging business environment[31] - The Chinese economy grew by only 3.9% in the third quarter of 2022, with retail sales showing a year-on-year increase of just 2.5% in September[31] Dividends - The company did not recommend an interim dividend for the nine months ended September 30, 2022, consistent with the previous year[28]

Revenue Performance - Revenue for the three months ended June 30, 2022, was HKD 4,899,000, a decrease of 37.4% compared to HKD 7,792,000 in the same period of 2021[5] - Revenue for the six months ended June 30, 2022, was HKD 8,318,000, down 45.8% from HKD 15,358,000 in the same period of 2021[5] - Total revenue for the six months ended June 30, 2022, was HKD 8,318,000, a decrease of 45.9% compared to HKD 15,358,000 for the same period in 2021[28] - Revenue from gold and jewelry products was HKD 209,000 for the six months ended June 30, 2022, down 95.8% from HKD 4,933,000 in 2021[28] - Revenue from enterprise software products was HKD 6,217,000 for the six months ended June 30, 2022, a decline of 13.4% from HKD 7,186,000 in 2021[28] - Sales from gold and jewelry products amounted to HKD 209,000, down from HKD 4,933,000 in the previous year, while revenue from enterprise software products decreased by about 13% to HKD 6,217,000[53] - The jewelry products segment recorded revenue of HKD 209,000, a significant decline from HKD 4,933,000 in the previous year[57] Net Loss and Financial Performance - The net loss for the three months ended June 30, 2022, was HKD 2,777,000, compared to a net loss of HKD 7,538,000 in the same period of 2021, representing a 63.2% improvement[7] - The net loss for the six months ended June 30, 2022, was HKD 5,139,000, a decrease of 48.0% from HKD 9,895,000 in the same period of 2021[7] - For the six months ended June 30, 2022, the company reported a loss attributable to owners of HKD 5,139,000, an improvement from a loss of HKD 9,895,000 in the same period last year[53] - The company reported a pre-tax loss of HKD 9,895,000 for the six months ended June 30, 2022, compared to a pre-tax loss of HKD 5,139,000 in the previous period[18] Assets and Liabilities - Total assets as of June 30, 2022, were HKD 101,958,000, down from HKD 104,102,000 as of December 31, 2021[9] - The total assets of the group as of June 30, 2022, were HKD 127,519,000, a decrease from HKD 130,484,000 at the end of the previous year[36] - Current liabilities as of June 30, 2022, were HKD 23,940,000, an increase from HKD 21,616,000 as of December 31, 2021[11] - The total liabilities of the group increased to HKD 24,139,000 from HKD 21,965,000 at the end of the previous year[36] - The company's equity total as of June 30, 2022, was HKD 103,380,000, down from HKD 108,519,000 as of December 31, 2021[11] Cash Flow and Liquidity - The company's cash and bank deposits increased to HKD 21,353,000 as of June 30, 2022, compared to HKD 19,562,000 as of December 31, 2021[9] - The cash and cash equivalents at the end of the period increased to HKD 21,353,000 from HKD 19,590,000 at the end of the previous period[18] - The company held cash and cash equivalents of HKD 21,353,000 as of June 30, 2022, compared to HKD 19,590,000 as of December 31, 2021[54] - The company’s debt ratio was zero as cash and cash equivalents exceeded total liabilities as of June 30, 2022[54] Shareholder Information - As of June 30, 2022, the company has a significant shareholder, Haitong Investment Limited, holding 804,159,697 shares, representing 41.29% of the issued share capital[62] - Another major shareholder, Shengyu Limited, owned 149,455,740 shares, accounting for 7.67% of the issued share capital as of June 30, 2022[67] Corporate Governance and Compliance - The company has maintained compliance with the GEM Listing Rules and corporate governance standards throughout the reporting period[70] - No purchases, sales, or redemptions of the company's listed securities occurred during the six-month review period[79] Future Outlook - The company has not disclosed any specific future outlook or guidance in the interim report[5] - The outlook for the second half of 2022 remains cautious due to ongoing economic challenges in mainland China, including low GDP growth and rising unemployment rates[59] - The management anticipates that the operating environment for the remainder of the year will remain unfavorable for business development, particularly impacting the jewelry product segment[60] Employee Information - The company’s employee count decreased to 36 from 41 at the beginning of the previous year[58] Taxation - The company did not make any provisions for Hong Kong profits tax due to tax losses incurred during the period[39] Operating Segments - The group identified two operating segments: jewelry products and information technology products and services, which are managed separately due to different resource requirements and market strategies[30]

Financial Performance - Total revenue for the first quarter of 2022 was HKD 3,419,000, a decrease of 54.8% compared to HKD 7,566,000 in the same period of 2021[6] - Revenue from enterprise software products was HKD 2,540,000, down 26.4% from HKD 3,449,000 in the previous year[17] - Revenue from professional services was HKD 879,000, a decline of 58.3% compared to HKD 2,110,000 in the first quarter of 2021[17] - The company reported a loss of HKD 2,310,000 for the period, slightly improved from a loss of HKD 2,357,000 in the same quarter of the previous year[6] - Basic and diluted loss per share was HKD 0.12, unchanged from the previous year[8] - For the three months ended March 31, 2022, the company reported a loss attributable to shareholders of HKD 2,310,000, compared to a loss of HKD 2,357,000 for the same period in 2021[28] - Total revenue for the same period was HKD 3,419,000, a decrease of 55% from HKD 7,566,000 in 2021[28] - There was no revenue from gold and jewelry products during the period, while revenue from IT products and services decreased to HKD 3,419,000 from HKD 5,559,000 in 2021, representing a decline of 38.5%[28] - Sales of enterprise software products fell by 26% to HKD 2,540,000, down from HKD 3,449,000 in the previous year[28] - The company did not recommend any dividends for the three months ended March 31, 2022, consistent with the previous year[26] Market and Strategic Focus - The company continues to focus on the development and sales of enterprise software and professional services, as well as gold and jewelry products[10] - The operational base of the group is located in Hong Kong and China, indicating a focus on these markets for future growth[10] - The company anticipates a cautious business environment for 2022, with risks to gold and jewelry sales increasing if lockdown measures continue into the second half of the year[31] - The company will continue to seek opportunities that align with its core business in the IT products and services segment[31] - The company’s strategy includes a shift towards consumer-driven growth, focusing on domestic demand rather than investment-led growth[31] Governance and Compliance - The company has established a strong governance framework, adhering to the GEM Listing Rules and ensuring compliance with corporate governance standards[42] - The Audit Committee has reviewed the unaudited consolidated results for the nine months ending March 31, 2022, confirming compliance with applicable accounting standards[44] - The company has a clear structure for its committees, including the Remuneration Committee and Nomination Committee, ensuring proper oversight and governance[45][47] - The company has confirmed that all directors complied with the trading standards during the nine-month period ending March 31, 2022[48] - The company has not disclosed any significant competitive interests held by directors or management that could impact its business[50] - The company has a strong commitment to shareholder interests and asset protection through its governance practices[42] - The company has not reported any additional interests or short positions in its issued share capital as of March 31, 2022[41] - The board of directors includes a mix of executive and independent non-executive members, ensuring diverse oversight[52] Taxation - The group did not make any provision for Hong Kong profits tax due to tax losses incurred during the period[22] Shareholder Information - As of March 31, 2022, the company had a total of 1,947,690,000 shares issued and outstanding, with no potential dilutive ordinary shares[28] - The company reported a significant shareholder structure, with Haitong Investment Limited holding 804,159,697 shares, representing 41.29% of the total equity[39] Risks - The company is subject to the risks associated with being listed on the GEM, which includes higher investment risks compared to other listed companies[4] - The average gold price increased by 7% in the first quarter of 2022, reaching USD 1,937 per ounce by the end of the period[29] Securities Transactions - No purchases, sales, or redemptions of the company's listed securities occurred during the review period[51]

Audit Completion - The company announced the completion of the audit for the fiscal year ending December 31, 2021, confirming that the unaudited annual results remain unchanged[4]. - The financial statements for the year ending December 31, 2021, have been agreed upon by the auditor, ensuring consistency with the audited financial reports approved by the board on May 12, 2022[5]. Information Accuracy - The board of directors confirmed that the information provided in the announcement is accurate and complete, with no misleading elements[7].

Financial Performance - For the year ended December 31, 2021, the Group reported revenue of HK$110,174,000, a significant increase compared to HK$41,361,000 in 2020, reflecting a growth of 166%[18] - The loss for the year decreased to HK$10,871,000 from HK$23,251,000 in 2020, indicating an improvement in financial performance[18] - The total equity of the Group as of December 31, 2021, was HK$108,519,000, a decrease from HK$115,484,000 in 2020[18] - For the year ended December 31, 2021, the Group's loss attributable to owners amounted to HK$8,908,000, compared to HK$8,717,000 in 2020[29] - The Group's revenue for the year was HK$41,361,000, down from HK$49,211,000 in 2020[29] - The Group's cash and bank balances as of December 31, 2021, were HK$19,562,000, compared to HK$23,524,000 in 2020[39] Revenue Segmentation - The Group's jewellery businesses doubled in revenue compared to the previous year, benefiting from a 7% downward adjustment in gold prices[23] - Sales of gold and jewellery products rebounded by 138% to HK$23,503,000, up from HK$9,894,000 in 2020[30] - Revenue from the IT products and services segment dropped by 55% due to the Group's strategy to scale down non-profitable services[23] - Revenue from professional services dropped by 83% to HK$4,518,000, down from HK$25,989,000 in 2020[30] - The IT Products and Services segment generated revenue of HK$17,858,000 in 2021, down from HK$39,317,000 in 2020[61] - As of December 31, 2021, the revenue from the Jewellery Products segment was HK$23,503,000, a significant increase from HK$9,894,000 in 2020[61] Market Conditions and Outlook - The Group anticipates geopolitical tensions will impact the global economy in 2022, leading to a more cautious business outlook[24] - Gold prices have regained above US$1,900/oz levels, which may affect the Group's operations in the coming year[24] - The demand for gold jewellery in Mainland China is expected to improve as the government focuses on boosting domestic consumption and infrastructure investments[69] - The Group plans to maintain a prudent approach in 2022, focusing on heritage gold jewellery for high-end consumers while targeting younger buyers with affordable, trendy designs[70] - The shift to wholesale business has successfully reduced costs over the past few years, with no plans to re-enter the retail market until favorable conditions arise[70] Corporate Governance - The Audit Committee reviewed the unaudited quarterly and interim results and audited annual results for the year ended December 31, 2021, confirming compliance with applicable accounting standards and adequate disclosures[108] - The Audit Committee recommended the re-appointment of Grant Thornton Hong Kong Limited as auditor, subject to shareholders' approval at the annual general meeting[110] - The Audit Committee's summary of work included meeting with the external auditor and reviewing the effectiveness of the Company's risk management and internal control systems[109] - The Company confirmed that all independent non-executive directors are considered independent, having received annual confirmations of independence[89] - The roles of chairman and chief executive officer are held by the same individual, Ms. Li Xia, since December 1, 2021, with the Board ensuring a balance of power and authority[101] - The Company has arranged appropriate liability insurance for directors, which is reviewed annually to cover risks arising from corporate activities[97] Shareholder Communication - The Company aims to maintain ongoing dialogue with shareholders, particularly through annual general meetings, to encourage participation and communication[153] - The Company has established various communication channels with shareholders, including general meetings, reports, and updates on its website[168] - The 2022 Annual General Meeting is scheduled for 24 June 2022, with further information to be provided to shareholders[160] - The Company has established multiple channels for communication with shareholders and investors, including annual meetings and reports published on its website[171] Employee and Operational Insights - As of December 31, 2021, the Group had 41 employees, down from 46 in 2020[67] - The Group will continue to seek opportunities in the IT Products and Services segment that align with its core business[71] - The Group's internal control and accounting systems are designed to provide reasonable assurance that material assets are protected and significant risks are identified and monitored[150] Financial Commitments and Changes - The Group did not have any material contingent liabilities or capital commitments as of December 31, 2021[58] - There were no significant subsequent events after the reporting period[60] - The Company had no distributable reserves as of December 31, 2021, and 2020[191] - During the year ended December 31, 2021, the Company and its subsidiaries did not purchase, sell, or redeem any of the Company's shares[197] - The directors of the Company during the year included Ms. Li Xia, who was appointed as Chairman effective December 1, 2021[197] Audit and Remuneration - For the year ended 31 December 2021, the total remuneration for audit services provided by Grant Thornton Hong Kong Limited was HK$860,000, an increase of 38.71% from HK$620,000 in 2020[143] - The Audit Committee approved audit fees and reviewed the adequacy of resources, qualifications, and experience of the Company's accounting and financial reporting staff[110] - The Remuneration Committee reviewed and recommended remuneration packages for executive directors and senior management[116] Strategic Investments - The Company raised approximately HK$57 million from the issuance of 594,230,000 ordinary shares by Rights Issue on March 29, 2018, to support the development of gold and jewellery sales in Mainland China[47] - The planned allocation of the raised funds included approximately HK$15 million for staff recruitment, HK$20 million for product design and marketing, HK$5 million for an e-commerce platform, HK$4 million for a new representative office in Shanghai, and HK$13 million for supply chain management upgrades[48] - In response to market conditions, the Group invested approximately HK$30 million in inventory during the second half of 2018, leading to a doubling of revenue from gold and jewellery sales in 2019[49] - The Company raised approximately HK$17 million from the placement of 165,000,000 ordinary shares on May 21, 2019, with HK$7 million allocated for operating and administrative expenses[50]

Financial Performance - Total revenue for the third quarter of 2021 was HKD 4,213,000, a decrease of 58.1% compared to HKD 10,035,000 in the same period of 2020[7] - For the nine months ended September 30, 2021, total revenue was HKD 19,571,000, down 37.7% from HKD 31,387,000 in the same period of 2020[7] - The company reported a net loss of HKD 1,767,000 for the third quarter of 2021, an improvement from a net loss of HKD 3,007,000 in the same period of 2020[9] - The net loss for the nine months ended September 30, 2021, was HKD 11,662,000, compared to a net loss of HKD 10,567,000 in the same period of 2020[9] - Basic and diluted loss per share for the third quarter of 2021 was HKD 0.09, compared to HKD 0.16 in the same period of 2020[9] - The company reported a loss attributable to shareholders of HKD 11,662,000 for the nine months ended September 30, 2021, compared to a loss of HKD 10,601,000 in the same period of 2020, representing an increase in loss of approximately 10%[27] Revenue Breakdown - The company recognized revenue from gold and jewelry products of HKD 663,000 and from enterprise software products of HKD 3,550,000 in the third quarter of 2021[15] - Professional services generated revenue of HKD 3,239,000 in the third quarter of 2021, compared to HKD 6,876,000 in the same period of 2020[15] - Revenue for the nine months ended September 30, 2021, was HKD 19,571,000, a decrease of 38% from HKD 31,387,000 in the same period of 2020[27] - Revenue from gold and jewelry product sales was HKD 5,596,000, while revenue from enterprise software product sales increased by approximately 10% to HKD 10,736,000 compared to HKD 9,771,000 in 2020[27] - The professional services business revenue decreased by approximately 85% to HKD 3,239,000, down from HKD 21,616,000 in the previous year[27] Expenses and Costs - The company incurred professional fees of HKD 944,000 in the third quarter of 2021, down from HKD 5,323,000 in the same period of 2020[7] - Employee benefit expenses for the third quarter of 2021 were HKD 3,627,000, a decrease from HKD 4,796,000 in the same period of 2020[7] - The company recognized an inventory write-down of HKD 4,165,000 and a goodwill impairment loss of HKD 1,973,000 during the reporting period[27] Market Conditions - The gold price decreased by 11% from USD 1,943 per ounce at the beginning of the year to USD 1,728 per ounce by the end of the third quarter[29] - The GDP growth rate in China slowed to 4.9% in the third quarter of 2021, with a downward adjustment to 9.8% for the first three quarters of the year[29] - The company remains cautiously optimistic about the Chinese gold and jewelry market, expecting business improvement as customers adapt to the new normal[29] Corporate Governance - The company did not recommend an interim dividend for the nine months ended September 30, 2021, consistent with the previous year[26] - The Audit Committee reviewed the unaudited consolidated results for the nine months ended September 30, 2021, confirming compliance with applicable accounting standards[43] - The company is committed to establishing good corporate governance practices, adhering to GEM Listing Rules Appendix 15[41] - The company has established a Remuneration Committee to define its scope of authority and responsibilities[44] - The company has a Nomination Committee in place to oversee the nomination process for directors[46] - The company confirms that all directors complied with the required standards of conduct regarding securities transactions during the nine-month period[47] - The company has no known interests or short positions in any business that may significantly compete with its operations[48] Shareholding Structure - As of September 30, 2021, major shareholder Huacheng Limited holds 804,157,697 shares, representing 41.29% of the company's issued share capital[36] - As of September 30, 2021, Longjiang Heji Industrial Limited holds 143,233,151 shares, representing 7.35% of the company's issued share capital[36] - The company is controlled by Mr. Chen Yin, who wholly owns Shengyu Limited, holding 149,455,740 shares, or 7.67% of the issued share capital[36] Future Outlook - The company plans to continue exploring business opportunities that align with its core operations in the information technology products and services segment[29]