Financial Performance - For the three months ended March 31, 2022, the company reported revenue of HKD 8,654,000, a decrease of 13.0% compared to HKD 9,952,000 for the same period in 2021[5] - The gross profit for the same period was HKD 1,609,000, down 52.8% from HKD 3,408,000 year-on-year[5] - The company recorded a loss before tax of HKD 14,332,000, compared to a loss of HKD 8,226,000 in the previous year, representing a 74.5% increase in losses[5] - The total comprehensive loss for the period was HKD 14,637,000, compared to HKD 8,425,000 in the prior year, indicating a 73.7% increase in total losses[7] - The basic and diluted loss per share was HKD 0.66, compared to HKD 0.55 for the same period last year, reflecting a 20.0% increase in loss per share[5] - The company reported other income of HKD 178,000, down from HKD 380,000 in the previous year, a decrease of 53.4%[5] - The loss for the period was approximately HKD 14,349,000, compared to a loss of approximately HKD 8,372,000 for the three months ended March 31, 2021[30] Revenue Segmentation - The media and entertainment segment generated revenue of HKD 3,549,000, while the cremation and funeral services segment generated revenue of HKD 5,105,000 for the three months ended March 31, 2022[15] - Media and entertainment segment revenue for the three months ended March 31, 2022, was approximately HKD 3,549,000, a decrease of 43.49% compared to approximately HKD 6,280,000 in the same period last year due to the postponement of certain entertainment activities[31] - Cremation and funeral services revenue for the same period was approximately HKD 5,105,000, an increase of 39.03% from approximately HKD 3,672,000 year-on-year, driven by higher demand for premium cremation services and the introduction of new value-added funeral services[33] Expenses and Costs - The selling, marketing, and distribution expenses were HKD 884,000, a decrease of 8.5% from HKD 963,000 in the prior year[5] - General, administrative, and other expenses for the three months ended March 31, 2022, were approximately HKD 14,897,000, an increase of 38.29% from HKD 10,772,000 in the same period last year, mainly due to non-cash equity-settled share option expenses and IT expenses related to the development of an entertainment platform[29] - Total employee costs for the three months ended March 31, 2022, amounted to approximately HKD 5,447,000, compared to HKD 3,443,000 for the same period last year, reflecting an increase in workforce[36] Equity and Assets - The company’s total equity as of March 31, 2022, was HKD 109,454,000, a decrease from HKD 122,320,000 at the beginning of the year[8] - Total assets as of March 31, 2022, amounted to HKD 189,766,000, with segment assets of HKD 107,835,000[15] - The total liabilities as of March 31, 2022, were HKD 80,313,000, with segment liabilities of HKD 35,276,000[15] Corporate Governance - The company has complied with the corporate governance code as per GEM listing rules during the reporting period[57] - The audit committee consists of three independent non-executive directors with expertise in accounting and finance[59] - The company has established a comprehensive financial control and risk management system[59] - There were no reported conflicts of interest among directors and management during the reporting period[54] - The company has not engaged in any arrangements for directors to profit from acquiring shares or bonds[55] - The company has adhered to all relevant trading regulations without any violations during the reporting period[51] Strategic Outlook - The company is optimistic about the recovery of the entertainment industry and expects gradual improvement in performance in the second half of 2022[34] - The company plans to continue seeking strategic partnerships and investment opportunities to enhance its entertainment-related project portfolio and expand revenue sources[35] - The company will focus on high-quality entertainment projects with proven track records to address market challenges and seize opportunities[35] Shareholder Information - The company’s major shareholders collectively held 61.74% of the issued share capital, with the largest shareholder owning 37.04%[40] - Major shareholders include Mr. Tang with 24.70% and Mr. Zhou with 37.04% of the issued share capital[46] - New Brilliant Investments Limited holds 7.56% of the shares, fully owned by Mr. Xu[46] - Mr. Xu also controls 9.99% through other entities, totaling 11.80% held by Mr. Chan[46] Miscellaneous - The company did not declare any dividends for the period, consistent with the previous year[5] - No stock options were canceled, lapsed, or forfeited during the three months ended March 31, 2022[41] - No purchases, sales, or redemptions of the company's listed securities occurred during the reporting period[56] - The group reviewed its unaudited performance for the three months ended March 31, 2022[60] - The board includes two executive directors and three independent non-executive directors[60] - The report will be published on the GEM website and the company's website for at least 7 days from the publication date[60]

Financial Performance - Total revenue for the year ended December 31, 2021, was approximately HKD 49,030,000, an increase of 68.51% from HKD 29,095,000 in the previous year[12] - The group recorded a loss of approximately HKD 71,620,000 for the year, compared to a loss of HKD 30,680,000 in 2020[7] - The loss attributable to owners of the company was approximately HKD 69,140,000, up from HKD 30,540,000 in the previous year[7] - As of December 31, 2021, the equity attributable to owners of the company was approximately HKD 120,540,000, compared to HKD 61,360,000 in 2020[7] - The net asset value per share was HKD 0.058, an increase from HKD 0.050 in the previous year[7] - Cash and cash equivalents as of December 31, 2021, were approximately HKD 114,644,000, up from HKD 34,037,000 a year earlier, with total assets increasing to approximately HKD 209,706,000 from HKD 118,935,000[15] - The group’s current ratio as of December 31, 2021, was approximately 3.38, compared to 2.53 a year earlier, indicating improved liquidity[15] - The asset-liability ratio as of December 31, 2021, was 72.49%, down from 91.18% a year earlier, indicating improved financial stability[15] Business Operations - The company launched a comprehensive entertainment platform named "Bookyay," which integrates online streaming content, ticketing systems, consumer products, and membership systems[9] - By early 2022, Bookyay had over 45,000 registered members from various regions, including Hong Kong, Macau, and the United States[9] - Bookyay collaborated with approximately 100 event organizers to host over 10,000 events, with participation exceeding 82,000 individuals[9] - The company plans to further optimize the Bookyay platform and form strategic alliances with business partners to enhance user experience[9] - The group aims to focus on high-quality entertainment projects with strong track records and explore strategic alliances and investment opportunities to expand revenue sources[7] - Total revenue from the media and entertainment business for the year ended December 31, 2021, was approximately HKD 34,939,000, a 96.87% increase from HKD 17,747,000 in the previous year, driven by concerts and other entertainment activities[14] - The cremation and funeral services business reported total revenue of approximately HKD 14,090,000 for the year, a 24.16% increase from HKD 11,348,000 in the previous year, attributed to higher demand for premium cremation services[14] Governance and Compliance - The board of directors consists of four members, including two executive directors and two independent non-executive directors, following the resignation of Mr. Ding Jielin[28] - The company has complied with GEM Listing Rules regarding the appointment of at least three independent non-executive directors, even after the resignation of Mr. Ding[28] - Dr. Ye Weixiong was appointed as an independent non-executive director and committee chair effective September 1, 2021, ensuring compliance with GEM Listing Rules[28] - The audit committee is composed of three independent non-executive directors, responsible for reviewing accounting policies and overseeing the financial reporting process[35] - The audit committee's key responsibilities include monitoring the effectiveness of financial controls, internal controls, and risk management systems[35] - The company has established a risk management committee to oversee risk management strategies and ensure effective governance practices[33] - The company has a clear separation of roles between the chairman and the CEO to ensure effective governance[31] - The board is responsible for overall management and oversight of significant matters, including operational strategies and risk management systems[32] - The company conducts annual reviews of its directors' and senior executives' liability insurance[32] Risk Management - The company’s risk management committee evaluated the effectiveness of the risk management framework and internal control systems during 2021[40] - The company’s audit committee reviewed the effectiveness of the risk management system and significant investment projects[44] - The board reviews the effectiveness of the risk management and internal control systems at least annually through the audit and risk management committees[71] - The group has established a three-line defense for risk management, with business units identifying and monitoring risks as the first line[71] - Internal audits assess the adequacy and effectiveness of risk management and internal control systems, reporting findings to the audit committee[73] Sustainability and ESG - The company is committed to sustainable development and has established a governance framework to address environmental, social, and governance (ESG) issues[87] - The company adheres to the GEM listing rules and has presented its ESG report for the fiscal year ending December 31, 2021[80] - The company emphasizes stakeholder engagement and has identified three key themes of significant importance for future decision-making[82] - The company has implemented a quantitative approach to measure its ESG performance using defined key performance indicators[83] - The company aims to maintain its competitive edge while addressing potential ESG risks and opportunities[87] - The board of directors is responsible for overseeing the effectiveness of the company's ESG policies and strategies[87] - The company has committed to continuous improvement in its sustainability performance despite challenges posed by the pandemic[88] - The company is focusing on sustainable development goals, particularly goal 3, to create a healthier future for humanity[89] Employee Welfare and Training - The group employed 79 staff members as of December 31, 2021, compared to 57 in the previous year, reflecting growth in operations[21] - The employee turnover rate for the fiscal year 2021 was 10.0%, with 8 employees leaving in Hong Kong, resulting in a turnover rate of 20.0% in that region[146][148] - A total of 38 employees received 2,400 hours of training during the fiscal year 2021, with over 50% of the trainees being general staff[165] - The group emphasized the importance of training as a strategic investment for long-term development and employee growth[164] - The group organized various activities to promote a healthy work-life balance among employees[156] - The group actively supported breastfeeding-friendly workplace initiatives as part of its commitment to employee welfare[155] Community Engagement - The company donated HKD 749,135 to J Life Foundation Limited to support low-income families and single-parent households[198] - The company received the "Caring Company" logo from the Hong Kong Council of Social Service for its efforts in community support[199] - The company has been recognized as a "Civilized Unit" by local authorities and certified as a "Level 2 Funeral Home" by the Guangdong Provincial Civil Affairs Department[188] Environmental Impact - The total greenhouse gas emissions for the fiscal year 2021 amounted to 425.3 tons, with a density of 5.3 tons of CO2 equivalent per employee[109] - The company generated a total of 2,396.3 kilograms of non-hazardous solid waste during the fiscal year 2021, with no significant hazardous waste recorded[109] - The company has implemented strict occupational health and safety measures to ensure employee well-being, particularly in response to the ongoing COVID-19 pandemic[101] - The company has adopted measures to manage climate-related issues and protect natural resources, complying with relevant environmental laws and regulations in Hong Kong and China[107] - The company has focused on enhancing the transparency and traceability of raw material procurement to positively impact biodiversity and the environment[104]

Financial Performance - For the three months ended September 30, 2021, the company reported revenue of HKD 11,293,000, a decrease from HKD 15,326,000 in the same period of 2020, representing a decline of 26.5%[5] - The gross profit for the three months ended September 30, 2021, was HKD 1,289,000, down from HKD 3,937,000 in the previous year, indicating a decrease of 67.2%[5] - The company recorded a loss before tax of HKD 19,740,000 for the three months ended September 30, 2021, compared to a loss of HKD 4,512,000 in the same period of 2020, reflecting an increase in losses of 338.5%[5] - For the nine months ended September 30, 2021, the total revenue was HKD 35,560,000, compared to HKD 21,406,000 in the same period of 2020, marking an increase of 66.2%[5] - The net loss attributable to owners of the company for the nine months ended September 30, 2021, was HKD 43,152,000, compared to HKD 17,890,000 in the same period of 2020, representing an increase of 141.5%[5] - The total comprehensive loss for the three months ended September 30, 2021, was HKD (19,633,000), compared to HKD (3,606,000) in the previous year, indicating an increase of 444.5%[7] - The company reported a total comprehensive loss of HKD 43,980,000 for the period, which includes a loss of HKD 43,152,000 before tax adjustments[8] Revenue Segmentation - For the nine months ended September 30, 2021, the total revenue from external customers was HKD 35,560,000, with HKD 25,165,000 from the media and entertainment segment and HKD 10,395,000 from the cremation and funeral services segment[15] - Media and entertainment business revenue for the nine months ended September 30, 2021, was HKD 25,165,000, up 87.06% from HKD 13,453,000 in the previous year[31] - Revenue from cremation and funeral services for the nine months ended September 30, 2021, was approximately HKD 10,395,000, a 30.71% increase from HKD 7,953,000 in the prior year[32] Expenses and Liabilities - Selling, marketing, and distribution expenses for the nine months ended September 30, 2021, were approximately HKD 4,072,000, a 22.43% increase from HKD 3,326,000 in the previous year[29] - General, administrative, and other expenses for the nine months ended September 30, 2021, were approximately HKD 46,015,000, an increase of 103.80% from HKD 22,578,000 in the prior year[30] - The total liabilities as of September 30, 2021, were HKD 88,676,000, including HKD 37,852,000 from the media and entertainment segment and HKD 13,319,000 from the cremation and funeral services segment[15] Assets and Capital Expenditures - Total assets as of September 30, 2021, amounted to HKD 119,865,000, with HKD 85,655,000 attributed to the media and entertainment segment and HKD 28,580,000 to the cremation and funeral services segment[15] - Capital expenditures for the nine months were HKD 9,901,000, with HKD 8,104,000 in the media and entertainment segment and HKD 1,797,000 in the cremation and funeral services segment[15] Strategic Initiatives - The company is focused on expanding its market presence and exploring new strategies to enhance its financial performance moving forward[2] - The company is developing an integrated entertainment platform that combines online streaming content, ticketing systems, consumer products, and membership systems[33] - The company plans to develop an NFT platform to allow customers to create, share, and monetize digital assets[33] - The group will focus on high-quality entertainment projects with strong track records and commercial viability to address upcoming market challenges and seize opportunities[35] - The group will continue to explore strategic alliances and investment opportunities to enrich its investment portfolio and expand revenue sources[35] - The group will assess its existing capital resources and seek new financing sources when necessary to maintain and develop its business cost-effectively[35] Employee and Governance Information - As of September 30, 2021, the total employee cost (including director remuneration) was approximately HKD 12,471,000, an increase from HKD 8,877,000 for the same period in 2020[37] - The group has 69 employees as of September 30, 2021, compared to 58 employees as of the same date in 2020[37] - The company has complied with all corporate governance codes as stipulated by the GEM Listing Rules for the nine months ending September 30, 2021[61] - The Audit Committee has reviewed the unaudited financial performance of the group for the nine months ending September 30, 2021[64] - The company has established a written guideline for directors' securities trading, confirming compliance with the relevant regulations[55] Shareholder Information - As of September 30, 2021, the total number of shares held by directors and key executives amounted to 718,896,505 shares, representing 57.48% of the issued share capital[44] - Mr. Tang holds 287,549,682 shares, representing 22.99% of the issued share capital[52] - Mr. Zhou holds 431,346,823 shares, representing 34.49% of the issued share capital[52] - New Brilliant Investments Limited, wholly owned by Mr. Xu, holds 98,472,498 shares, representing 8.09% of the issued share capital[52] - Mr. Chen holds 97,390,000 shares, representing 11.75% of the issued share capital[52] - The total beneficial ownership of Mr. Tang, Mr. Zhou, and New Brilliant Investments Limited amounts to 718,896,505 shares, representing 57.48% of the issued share capital[52] Compliance and Reporting - The report will be published on the GEM website and the company's website for at least 7 days from the date of publication[65] - The company is committed to transparency in its financial reporting[65] - The report is part of the company's compliance with regulatory requirements[65] - The company aims to enhance shareholder value through strategic initiatives[65] - There were no purchases, sales, or redemptions of the company's listed securities during the nine months ending September 30, 2021[60] - No shares were granted under the share incentive plan as of September 30, 2021[50]

Financial Performance - For the three months ended June 30, 2021, the company reported revenue of HKD 14,315,000, compared to HKD 2,121,000 for the same period in 2020, representing a significant increase[5]. - The gross profit for the six months ended June 30, 2021, was HKD 5,663,000, up from HKD 2,933,000 in the same period of 2020, indicating a growth of 93.5%[5]. - The company recorded a loss before tax of HKD 16,101,000 for the three months ended June 30, 2021, compared to a loss of HKD 5,797,000 in the same period of 2020[5]. - Total comprehensive loss for the six months ended June 30, 2021, was HKD 24,347,000, compared to HKD 13,691,000 for the same period in 2020, reflecting an increase in losses[7]. - The company reported a pre-tax loss of HKD 24,327,000 for the six months ended June 30, 2021, compared to a loss of HKD 13,279,000 for the same period in 2020, reflecting an increase in losses of 83.5%[13]. - The company reported a loss attributable to owners of HKD 23,879,000 for the six months ended June 30, 2021, compared to a loss of HKD 13,137,000 for the same period in 2020, an increase of 81.5%[11]. - The loss for the six months ended June 30, 2021, was approximately HKD 24,707,000, compared to a loss of HKD 13,302,000 for the same period in 2020[50]. Assets and Liabilities - Non-current assets as of June 30, 2021, totaled HKD 41,107,000, an increase from HKD 39,219,000 as of December 31, 2020[8]. - Current assets increased to HKD 82,190,000 as of June 30, 2021, compared to HKD 79,716,000 as of December 31, 2020[8]. - The company reported a net current asset value of HKD 47,080,000 as of June 30, 2021, down from HKD 48,166,000 as of December 31, 2020[8]. - The total assets less current liabilities amounted to HKD 88,187,000 as of June 30, 2021, compared to HKD 87,385,000 as of December 31, 2020[8]. - Non-current liabilities increased to HKD 39,153,000 as of June 30, 2021, compared to HKD 24,394,000 as of December 31, 2020, representing a growth of 60.5%[10]. - The company's net asset value decreased to HKD 49,034,000 as of June 30, 2021, down from HKD 62,991,000 as of December 31, 2020, a decline of 22.2%[10]. - The asset-liability ratio as of June 30, 2021, was 162%, up from 91.2% as of December 31, 2020, indicating an increase in leverage[56]. Cash Flow and Expenditures - Cash and cash equivalents decreased to HKD 13,474,000 as of June 30, 2021, from HKD 29,384,000 at the end of the previous year, a reduction of 54.3%[14]. - Operating cash flow showed a net outflow of HKD 26,654,000 for the six months ended June 30, 2021, compared to an inflow of HKD 11,911,000 in the previous year[13]. - The company invested HKD 8,613,000 in property, plant, and equipment during the six months ended June 30, 2021, compared to HKD 375,000 in the same period of 2020, indicating a significant increase in capital expenditure[13]. - The financing activities generated a net cash inflow of HKD 14,344,000 for the six months ended June 30, 2021, compared to an outflow of HKD 1,185,000 in the previous year[14]. Revenue Segmentation - Media and entertainment segment revenue was HKD 17,150,000, while the cremation and funeral services segment generated HKD 7,117,000, totaling HKD 24,267,000 for the six months ended June 30, 2021[20]. - The media and entertainment segment recorded revenue of approximately HKD 17,150,000 for the six months ended June 30, 2021, an increase of 1,693.9% compared to approximately HKD 956,000 in the same period last year, primarily due to ticket sales from exhibitions and concerts[52]. - The cremation and funeral services business generated revenue of approximately HKD 7,117,000, up 38.9% from approximately HKD 5,124,000 in the same period last year, influenced by a decline in value-added funeral services revenue due to COVID-19 restrictions[52]. Expenses - Employee benefit expenses increased to HKD 8,803,000 from HKD 6,215,000 in the previous year[34]. - Sales, marketing, and distribution expenses for the six months ended June 30, 2021, were approximately HKD 2,482,000, up 19% from HKD 2,086,000 in the previous year, accounting for 10.2% of revenue[48]. - General, administrative, and other expenses for the same period were approximately HKD 27,178,000, an increase of 80.8% from HKD 15,030,000 last year[49]. - The segment loss for cremation and funeral services was HKD 297,000, while the media and entertainment segment incurred a loss of HKD (8,273,000)[21]. Corporate Governance - The company has established an audit committee consisting of three independent non-executive directors, ensuring expertise in accounting and financial management[79]. - The audit committee's main responsibilities include reviewing the group's financial controls, internal control, and risk management systems, as well as monitoring the integrity of consolidated financial statements[79]. - The company has complied with all provisions of the corporate governance code as stipulated in the GEM Listing Rules during the six months ended June 30, 2021[78]. - The board of directors includes two executive directors and three independent non-executive directors as of the report date[80]. Shareholder Information - The total number of shares held by major shareholders includes 431,346,823 shares held by Mr. Zhou, representing 34.49% of the issued share capital[70]. - Mr. Tang holds 287,549,682 shares, accounting for 22.99% of the issued share capital[70]. - New Brilliant Investments Limited holds 98,472,498 shares, which is 7.87% of the issued share capital[70]. - As of June 30, 2021, 1,500,000 stock options had expired[66]. - No shares were awarded under the Share Award Scheme for the six months ended June 30, 2021[68].

Financial Performance - The company reported revenue of HKD 9,952,000 for the three months ended March 31, 2021, compared to HKD 3,959,000 for the same period in 2020, representing an increase of 151%[7] - Gross profit for the same period was HKD 3,408,000, up from HKD 1,377,000 in 2020, indicating a growth of 147%[7] - The company incurred a loss before tax of HKD 8,226,000 for the three months ended March 31, 2021, compared to a loss of HKD 7,482,000 in the previous year, reflecting an increase in losses of 10%[7] - The total comprehensive loss for the period was HKD 8,425,000, compared to HKD 8,076,000 in 2020, which is an increase of 4.3%[9] - The company reported a loss attributable to owners of the company of HKD 7,964,000 for the period, compared to HKD 7,374,000 in the previous year, marking a 8% increase in losses[7] - The company reported a loss of approximately HKD 8,372,000 for the period, compared to a loss of approximately HKD 7,482,000 for the same period last year[30] Assets and Cash Flow - The company’s total assets as of March 31, 2021, were HKD 61,355,000, compared to HKD 90,077,000 at the beginning of the year, indicating a decrease of 31.9%[11] - The company’s cash and cash equivalents decreased to HKD 7,051,000 from HKD 82,230,000, a decline of 91.4%[11] - Total assets as of March 31, 2021, amounted to HKD 122,094,000, with segment assets of HKD 72,838,000 in media and entertainment and HKD 26,023,000 in cremation and funeral services[17] Expenses - Sales, marketing, and distribution expenses for the period were approximately HKD 963,000, a decrease of 22.28% from HKD 1,239,000 in the same period last year, representing about 9.68% of total revenue[29] - General, administrative, and other expenses for the period were approximately HKD 10,772,000, an increase of 32.33% from HKD 8,140,000 in the same period last year[29] - As of March 31, 2021, the total employee cost, including director remuneration, was approximately HKD 3,443,000, compared to HKD 3,365,000 for the same period last year[37] Dividends - The company did not declare any dividends for the period, consistent with the previous year[7] - The company did not recommend the payment of any dividends for the three months ended March 31, 2021[23] Business Segments - The media and entertainment segment generated revenue of HKD 6,280,000, while the cremation and funeral services segment generated revenue of HKD 3,672,000, totaling HKD 9,952,000[17] - The media and entertainment segment recorded revenue of approximately HKD 6,280,000 for the three months ended March 31, 2021, an increase of 388.72% compared to approximately HKD 1,285,000 in the same period last year, primarily due to ticket revenue from exhibitions organized during the period[31] - The cremation and funeral services business generated revenue of approximately HKD 3,672,000 for the three months ended March 31, 2021, representing a 37.32% increase from approximately HKD 2,674,000 in the same period last year, attributed to a recovery from the decline in value-added funeral service revenue due to COVID-19 restrictions[33] Strategic Initiatives - The company is exploring opportunities for market expansion and new product development to enhance future performance[7] - The company is committed to improving operational efficiency and reducing costs in response to the challenging market conditions[7] - The company is developing an integrated entertainment platform named "Bookyay," which combines online streaming content, ticketing systems, consumer products, and membership systems into a unified lifestyle platform[34] - The company has launched a new NFT production studio, "Sunny Side Up," focusing on creating unique digital assets and investing in the NFT market, with a notable collaboration for an NFT art series with artists from Hong Kong and Taiwan[35] - The company plans to expand its funeral services to include pet funeral services, enhancing its funeral business portfolio[36] - The company is exploring strategic alliances and investment opportunities to enrich its investment portfolio and expand revenue sources[36] Shareholder Information - The company’s major shareholders include Mr. Tang Choi Chi, holding 287,549,682 shares, representing 22.99% of the issued share capital[40] - Major shareholders include Mr. Tang with 287,549,682 shares (22.99% of issued share capital) and Mr. Zhou with 431,346,823 shares (34.49% of issued share capital) as of March 31, 2021[50] - New Brilliant Investments Limited, wholly owned by Mr. Xu, holds 98,472,498 shares (7.87% of issued share capital) as of March 31, 2021[50] - The total number of shares held by major shareholders amounts to 718,896,505, representing 57.48% of the issued share capital[50] Corporate Governance - The company has complied with the corporate governance code as per GEM Listing Rules during the three months ending March 31, 2021[58] - The audit committee consists of three independent non-executive directors, ensuring financial control and risk management oversight[61] - The board includes two executive directors and three independent non-executive directors[63] - The company has established written guidelines for directors' securities trading, confirming compliance with regulations[52] - The company has adopted a share incentive plan to recognize and reward contributions from eligible individuals towards its growth and development[46] Reporting and Compliance - The company did not recognize any significant deferred tax liabilities during the reporting period[22] - The company did not adopt any new or revised Hong Kong Financial Reporting Standards that would have a significant impact on the financial statements[14] - No purchases, sales, or redemptions of the company's listed securities occurred during the three months ending March 31, 2021[57] - The group reviewed the unaudited performance for the three months ended March 31, 2021[63] - The report will be published on the GEM website and the company's website for at least 7 days from the date of publication[63]

Investment Risks and Market Overview - The company operates in the GEM market, which is designed for small to medium-sized enterprises, indicating a higher investment risk compared to other listings[2] - The company emphasizes the importance of understanding potential risks before making investment decisions in GEM-listed securities[2] Corporate Governance - The report confirms that the information provided is accurate and complete, with no misleading or fraudulent elements[2] - The company is committed to corporate governance and has established various committees to oversee different aspects of its operations[7] - The company has a dedicated audit committee chaired by an independent non-executive director[7] - The company has established a risk management committee to address potential risks[7] - The company conducted a review of its accounting policies and financial reporting processes, ensuring compliance and integrity in its financial statements[24] - The company approved performance-linked compensation for all executive directors and senior management, ensuring fairness and alignment with market practices[28] - The board held regular meetings to discuss and approve overall strategic direction, annual, interim, and quarterly performance, and other significant matters[34] - The company reviewed the independence of its independent non-executive directors and assessed their contributions to the board[25] - The company monitored the operation of its share incentive plan, ensuring compliance with the established rules[33] - The company proposed the appointment of external auditors for shareholder approval at the annual general meeting[24] - The company ensured that resources, qualifications, and training plans for accounting and financial reporting functions were adequate[31] - The company established a nomination policy to enhance board diversity and evaluate the independence of directors[26] - The company maintained compliance with corporate governance codes and disclosure requirements[24] Financial Performance - The report includes a comprehensive financial summary over the past five years, indicating a focus on financial transparency[4] - The company's total revenue for the year ended December 31, 2020, was approximately HKD 29,095,000, a decrease of 76.95% compared to HKD 126,247,000 in the previous year[10] - The media and entertainment segment generated total revenue of approximately HKD 17,747,000, down 84.62% from HKD 115,427,000 in the prior year, with only 3 concerts held compared to 35 in 2019[10] - The company recorded a loss of approximately HKD 30,675,000 for the year, an improvement from a loss of HKD 51,552,000 in 2019[9] - General, administrative, and other expenses decreased by 30.42% to approximately HKD 36,649,000, down from HKD 52,672,000 in the previous year[13] - Sales, marketing, and distribution expenses were approximately HKD 5,133,000, a decrease of 73.35% from HKD 19,258,000 in the prior year, representing about 17.64% of total revenue[11] Strategic Initiatives and Future Plans - The company launched a new NFT studio named "Sunny Side Up" to capitalize on the growing NFT market, focusing on partnerships with artists and industry participants[8] - The company plans to develop an integrated entertainment platform called "Bookyay," combining online streaming, ticketing, and consumer products into a unified service platform[8] - The company aims to explore strategic alliances and investment opportunities to enhance its portfolio and expand revenue sources[8] - The company will continue to assess its capital resources and seek new financing sources as necessary to maintain and develop its business[8] - The group plans to continue focusing on exploring potential investments in media, entertainment, cremation, and funeral services to enhance its business portfolio[14] Risk Management - The risk management committee evaluated the effectiveness of the group's risk management framework and internal control systems, focusing on operational, regulatory, and financial risks[30] - The company faces significant uncertainties in the media and entertainment industry, particularly in project selection and audience acceptance, which can impact financial success[59] - The company has established a three-line defense system for risk management, with business units identifying and monitoring risks, management providing oversight, and internal audit reviewing effectiveness[59] - The company seeks to diversify risks through joint productions and investments with business partners[60] - Regulatory compliance is a key focus area, as failure to obtain necessary licenses can lead to investment losses and operational disruptions[61] Environmental, Social, and Governance (ESG) Initiatives - The company emphasizes the importance of environmental, social, and governance (ESG) policies, presenting its fifth ESG report for the fiscal year ending December 31, 2020[75] - The ESG report highlights the group's environmental and social performance in media and entertainment, as well as cremation and funeral services in Hong Kong and China[76] - The board of directors is committed to ensuring the effectiveness of the company's ESG policies and fostering a responsible corporate culture[80] - The company has established accountability mechanisms within its management to address ESG matters and maintain competitiveness in the market[80] - Stakeholder feedback is crucial for the company to develop and implement its sustainable development strategy, focusing on significant risks and opportunities[81] - The company actively engages with stakeholders through preferred communication channels to build trust and mutual support[83] Community Engagement and Social Responsibility - The company actively supports local community welfare and infrastructure development projects to create job opportunities[98] - The company donated to the K for Kids Foundation to support underprivileged children, participating in events like Children's Day 2020[174] - During the COVID-19 pandemic, the company distributed free masks and disinfectants to nursing homes in China[180] - The company received the "Caring Company" award from the Hong Kong Council of Social Service for its efforts in enhancing workplace happiness[181] - The company actively participates in community investment, focusing on supporting vulnerable groups such as the elderly and homeless[176] Employee Welfare and Training - The company emphasizes the importance of talent acquisition and offers competitive compensation and benefits to attract outstanding individuals[132] - In the fiscal year 2020, the group organized various health and safety training courses, including monthly emergency drills and public health safety lectures, to enhance employee safety awareness[141] - A total of 37 employees received 2,256 hours of training in the fiscal year 2020, with over 70% of the trainees being general staff[146] - The group recorded zero work-related fatalities over the past three fiscal years, demonstrating a commitment to maintaining a safe working environment[142] Compliance and Ethical Standards - The company has a zero-tolerance policy towards bribery and corruption, implementing systems to manage related risks[171] - The company has adhered to relevant laws and regulations regarding bribery, extortion, fraud, and money laundering that significantly impact its operations in the fiscal year 2020[173] - The company has implemented effective reporting procedures to ensure any suspicious or improper behavior can be reported, with a hotline and suggestion box open to all[172] Financial Reporting and Transparency - The company reported no dividend for the year ended December 31, 2020, consistent with the previous year[198] - The financial performance for the year ended December 31, 2020, is detailed in the consolidated income statement on page 62 of the annual report[198] - The company is primarily an investment holding company, with its main subsidiaries' businesses outlined in the consolidated financial statements[196] - Revenue and segment performance analysis by business and geographical segments for the year ended December 31, 2020, is provided in note 4 of the consolidated financial statements[197] - The company faces multiple risks and uncertainties that may impact its financial condition, performance, and outlook, as discussed in the management discussion and analysis section[200]

Financial Performance - For the three months ended September 30, 2020, the company reported revenue of HKD 15,326,000, a decrease of 65.1% compared to HKD 43,976,000 in the same period of 2019[7] - The gross profit for the three months ended September 30, 2020, was HKD 3,937,000, compared to a gross loss of HKD 7,452,000 in the same period of 2019[7] - The company recorded a loss before tax of HKD 4,512,000 for the three months ended September 30, 2020, significantly improved from a loss of HKD 28,950,000 in the same period of 2019[7] - The net loss for the nine months ended September 30, 2020, was HKD 17,911,000, compared to a net loss of HKD 40,055,000 for the same period in 2019, indicating a 55.3% reduction in losses[7] - The basic and diluted loss per share for the three months ended September 30, 2020, was HKD 0.4, compared to HKD 2.4 for the same period in 2019[7] - The total comprehensive loss for the three months ended September 30, 2020, was HKD 3,606,000, compared to HKD 29,226,000 in the same period of 2019[10] - Total revenue for the nine months ended September 30, 2020, was approximately HKD 21,406,000, a decrease of 77.03% compared to HKD 93,173,000 in the same period last year[26] - The loss for the nine months ended September 30, 2020, was approximately HKD 17,911,000, a reduction from a loss of HKD 40,055,000 in the same period last year[30] Segment Performance - For the nine months ended September 30, 2020, total revenue from the media and entertainment segment was HKD 13,453,000, while the cremation and funeral services segment generated HKD 7,953,000, totaling HKD 21,406,000[16] - The adjusted loss before tax for the media and entertainment segment was HKD (11,040,000), and for the cremation and funeral services segment, it was HKD 722, resulting in a total adjusted loss before tax of HKD (17,791,000)[16] - Media and entertainment business revenue was HKD 13,453,000, down 84.16% from HKD 84,908,000 year-on-year, primarily due to the impact of COVID-19[31] - Cremation and funeral services revenue was approximately HKD 7,953,000, consistent with HKD 8,265,000 in the previous year[32] - Revenue from cremation and funeral services and related products for the nine months ended September 30, 2020, was HKD 3,812,000, down from HKD 4,090,000 in 2019[18] Operational Efficiency and Strategy - The company is focusing on improving operational efficiency and exploring new market opportunities to enhance future performance[7] - The company anticipates that the COVID-19 pandemic will have a short-term impact on the regional entertainment sector and is taking measures to improve operational efficiency and maintain cash flow[33] - The company plans to focus on high-quality entertainment projects with strong track records and explore strategic alliances and investment opportunities to expand revenue sources[33] - The management remains cautious about market conditions and is closely monitoring developments to adjust strategies accordingly[7] Corporate Governance - The company confirmed that all directors complied with the securities trading regulations during the nine months ending September 30, 2020[52] - The company did not participate in any arrangements for directors to profit from acquiring shares or convertible bonds during the nine months ending September 30, 2020[56] - There were no purchases, sales, or redemptions of the company's listed securities by the company or its subsidiaries during the nine months ending September 30, 2020[57] - The company adhered to all corporate governance codes as stipulated by the GEM listing rules during the nine months ending September 30, 2020[58] - The audit committee, composed of three independent non-executive directors, is responsible for reviewing the financial controls and risk management systems of the group[60] - The group reviewed the unaudited financial performance for the nine months ended September 30, 2020[61] - The board includes two executive directors and three independent non-executive directors[61] Shareholder Information - As of September 30, 2020, the company had a total of 431,346,823 shares held by a significant shareholder, representing 34.49% of the issued share capital[49] - Another significant shareholder held 287,549,682 shares, accounting for 22.99% of the issued share capital[49] - A third significant shareholder owned 718,896,505 shares, which is 57.48% of the issued share capital[49] - New Brilliant Investments Limited, fully owned by Mr. Xu, held 98,472,498 shares, representing 7.87% of the issued share capital[49] - Mr. Xu also held 1,800 shares directly, which is 0.00% of the issued share capital[49] Expenses - Sales, marketing, and distribution expenses were approximately HKD 3,326,000, down 71.15% from HKD 11,529,000 year-on-year, accounting for about 15.54% of revenue[27] - General and administrative expenses decreased by 37.82% to approximately HKD 22,734,000 from HKD 36,562,000 in the previous year[28] - As of September 30, 2020, the total employee cost was approximately HKD 8,877,000, slightly up from HKD 8,740,000 in the previous year[36] Capital Expenditures and Assets - Capital expenditures for the media and entertainment segment were HKD 42,000, while the cremation and funeral services segment incurred HKD 715,000, totaling HKD 757,000[16] - Total assets amounted to HKD 112,455,000, with segment assets of HKD 61,398,000 for media and entertainment and HKD 25,621,000 for cremation and funeral services[16] - Total liabilities were reported at HKD (37,825,000), with segment liabilities of HKD (23,512,000) for media and entertainment and HKD (6,716,000) for cremation and funeral services[16] Dividend Information - The company did not declare any dividends for the periods reported[7] - The company did not recommend any dividend payment for the nine months ended September 30, 2020, consistent with the previous year[21] Financial Reporting Standards - The company is currently evaluating the impact of new and revised Hong Kong Financial Reporting Standards but has not yet determined if they will significantly affect its operating performance and financial position[1] Publication of Report - The report will be published on the GEM website and the company's website for at least 7 days from the publication date[61]

Financial Performance - For the three months ended June 30, 2020, the company reported revenue of HKD 2,121 thousand, a decrease of 93.3% compared to HKD 31,618 thousand for the same period in 2019[8]. - The gross profit for the six months ended June 30, 2020, was HKD 2,933 thousand, down 76.7% from HKD 12,579 thousand in the same period of 2019[8]. - The company recorded a loss of HKD 5,820 thousand for the three months ended June 30, 2020, compared to a loss of HKD 4,201 thousand for the same period in 2019, representing a 38.5% increase in loss[8]. - Total comprehensive loss for the six months ended June 30, 2020, was HKD 13,691 thousand, an increase of 17.3% from HKD 11,570 thousand in the same period of 2019[11]. - Basic and diluted loss per share for the six months ended June 30, 2020, was HKD 1.1, compared to HKD 0.9 for the same period in 2019[8]. - The company reported a loss before tax of HKD 10,661,000 for the six months ended June 30, 2020, compared to a loss of HKD 10,482,000 for the same period in 2019[24][33]. - The company reported a loss of approximately HKD 13,302,000 for the six months ended June 30, 2020, compared to a loss of HKD 11,669,000 for the same period last year[56]. Assets and Liabilities - Non-current assets decreased to HKD 37,303 thousand as of June 30, 2020, down 16.3% from HKD 44,542 thousand as of December 31, 2019[12]. - Current assets decreased to HKD 69,901 thousand as of June 30, 2020, down 33.1% from HKD 104,546 thousand as of December 31, 2019[12]. - Current liabilities decreased to HKD 24,724 thousand as of June 30, 2020, down 53.1% from HKD 52,670 thousand as of December 31, 2019[12]. - As of June 30, 2020, the company's total equity decreased to HKD 78,164,000 from HKD 91,712,000 as of December 31, 2019, representing a decline of approximately 14.8%[14]. - The total assets of the company amounted to HKD 158,426,000 as of June 30, 2020, with total liabilities of HKD 55,897,000[25]. - The debt-to-equity ratio as of June 30, 2020, was 37.84%, a significant decrease from 63.70% as of December 31, 2019[61]. Cash Flow and Management - Cash and cash equivalents increased to HKD 29,384,000 as of June 30, 2020, up from HKD 19,764,000 at the end of the previous year, reflecting a growth of approximately 48.8%[18]. - The company experienced a significant decrease in trade receivables, which fell by HKD 15,573,000, compared to a decrease of HKD 7,136,000 in the previous year, indicating improved cash flow management[17]. - The company’s net cash generated from operating activities was HKD 11,911,000 for the six months ended June 30, 2020, compared to a net cash used of HKD 23,526,000 in the same period of 2019, showing a turnaround in cash flow[17]. - The company’s trade receivables decreased to HKD 4,280,000 as of June 30, 2020, from HKD 19,836,000 as of December 31, 2019[38]. - As of June 30, 2020, the group's cash and bank balances were approximately HKD 29,384,000, an increase from HKD 19,039,000 as of December 31, 2019[61]. Operational Focus and Strategy - The company is focusing on cost management and exploring new market opportunities to mitigate the impact of the ongoing challenges[8]. - The media and entertainment segment remains a key focus, with ongoing investments in concert and entertainment activities, although specific financial impacts were not detailed[20]. - The company plans to focus on high-quality entertainment projects with a strong track record and commercial viability, and is discussing rescheduling concerts and exhibitions for the second half of 2020[59]. - The company aims to explore strategic alliances and investment opportunities to enrich its investment portfolio and expand revenue sources[59]. Shareholder Information - The major shareholders held a total of 718,896,505 shares, representing 57.48% of the issued share capital[68]. - The largest shareholder, Mr. Tang, held 431,346,823 shares, accounting for 34.49% of the issued share capital[76]. - New Brilliant Investments Limited, controlled by Mr. Xu, held 98,472,498 shares, representing 7.87% of the issued share capital[78]. Corporate Governance - The company has established written guidelines regarding securities trading by its directors, confirming full compliance with the GEM Listing Rules as of June 30, 2020[79]. - The company did not engage in any arrangements for directors to profit from purchasing shares of the company or any other entities during the six months ending June 30, 2020[83]. - The company has complied with all provisions of the corporate governance code as stipulated in the GEM Listing Rules during the reporting period[85]. - An audit committee has been established, consisting of three independent non-executive directors, to oversee financial controls and risk management[87]. - The audit committee reviewed the unaudited performance of the group for the six months ending June 30, 2020[88]. - The board of directors includes two executive directors and three independent non-executive directors as of the report date[89].

Financial Performance - For the three months ended March 31, 2020, the company reported revenue of HKD 3,959,000, a decrease of 77.5% compared to HKD 17,579,000 for the same period in 2019[6] - The gross profit for the same period was HKD 1,377,000, compared to a gross loss of HKD 56,000 in the previous year[6] - The company recorded a loss before tax of HKD 7,482,000, slightly higher than the loss of HKD 7,369,000 in the prior year[6] - The total comprehensive loss for the period was HKD 8,076,000, compared to HKD 7,325,000 in the same period last year[8] - The basic and diluted loss per share was HKD 0.6, compared to HKD 0.5 in the previous year[6] - The adjusted loss before tax for the period was HKD 7,482,000, compared to a loss of HKD 7,468,000 for the same period last year[28] Revenue Breakdown - Revenue from the media and entertainment segment was HKD 1,285,000, while the cremation and funeral services segment generated HKD 2,674,000, totaling HKD 3,959,000[14] - Media and entertainment segment revenue for the three months ended March 31, 2020, was approximately HKD 1,285,000, a decrease of 91.08% compared to approximately HKD 14,403,000 in the same period last year, primarily due to the impact of COVID-19[29] - Revenue from cremation and funeral services for the three months ended March 31, 2020, was approximately HKD 2,674,000, down 15.81% from approximately HKD 3,176,000 in the same period last year, attributed to restrictions on gatherings due to COVID-19[31] Operating Expenses - The total operating expenses, including selling, marketing, and administrative expenses, amounted to HKD 8,210,000 for the quarter[6] - Sales, marketing, and distribution expenses were approximately HKD 1,239,000, a decrease of 9.76% from HKD 1,373,000 in the previous year, representing 31.30% of total revenue[25] - General and administrative expenses for the period were approximately HKD 8,210,000, consistent with HKD 7,867,000 from the previous year[26] - As of March 31, 2020, the total employee costs amounted to approximately HKD 3,365,000, an increase from HKD 2,665,000 in the same period last year[33] Strategic Focus and Outlook - The company is focusing on strategic initiatives to improve operational efficiency and reduce costs amid challenging market conditions[6] - Future outlook remains cautious due to ongoing market volatility and uncertainties related to the global economic environment[6] - The company anticipates that COVID-19 will have a short-term impact on the entertainment sector, with ongoing discussions to reschedule concerts and exhibitions for the second half of 2020[32] - The company is focusing on high-quality entertainment projects with a strong track record and commercial viability to enhance operational efficiency and maintain sufficient cash flow[32] - The company is exploring strategic alliances and investment opportunities to enrich its investment portfolio and expand revenue sources[32] Shareholder and Governance Information - Major shareholders include individuals holding a total of 718,896,505 shares, representing 57.48% of the issued share capital[40] - The company has adopted a share reward plan to recognize and reward contributions from qualified individuals, aimed at attracting suitable personnel for further development[43] - The company has established a written guideline for securities trading by directors, confirming full compliance with the GEM Listing Rules as of March 31, 2020[48] - The board of directors includes two executive directors and three independent non-executive directors as of the report date[57] - The audit committee has been established to review the financial controls, internal controls, and risk management systems of the group[55] - The audit committee reviewed the unaudited performance of the group for the three months ending March 31, 2020[56] Compliance and Regulatory Matters - The company has complied with all provisions of the corporate governance code as stipulated in the GEM Listing Rules during the three months ending March 31, 2020[53] - The company is currently assessing the impact of new and revised Hong Kong Financial Reporting Standards but has not yet determined if they will significantly affect its operating performance and financial position[1] - The company has not engaged in any arrangements for directors to profit from acquiring shares or convertible bonds during the three months ending March 31, 2020[52] - There were no purchases, sales, or redemptions of the company's listed securities by the company or its subsidiaries during the three months ending March 31, 2020[53] - The company has no mortgaged assets or significant contingent liabilities as of March 31, 2020[34]

Financial Performance - For the three months ended March 31, 2019, the company reported revenue of HKD 17,579,000, an increase from HKD 13,481,000 in the same period of 2018, representing a growth of 30.5%[6] - The gross loss for the period was HKD 56,000, compared to a gross profit of HKD 4,479,000 in the previous year, indicating a significant decline[6] - The company recorded a loss before tax of HKD 7,369,000, which is an increase from a loss of HKD 2,852,000 in the prior year, reflecting a deterioration of 158.5%[6] - The net loss for the period was HKD 7,468,000, compared to a net loss of HKD 2,945,000 in the same quarter of 2018, marking an increase of 153.5%[6] - Basic and diluted loss per share for the company was HKD 0.005, compared to HKD 0.002 in the previous year, indicating a worsening performance[6] - The total comprehensive loss for the period was HKD 7,325,000, compared to HKD 1,917,000 in the same period last year, representing an increase of 282.5%[8] - The company reported other income of HKD 1,129,000 for the quarter, compared to HKD 140,000 in the previous year, showing a significant increase[6] Expenses - The company incurred selling, marketing, and distribution expenses of HKD 7,867,000, up from HKD 6,099,000 in the prior year, reflecting a rise of 29%[6] - General and administrative expenses for the three months ended March 31, 2019, were approximately HKD 7,867,000, an increase of 28.99% from HKD 6,099,000 in the same period last year[28] - Sales, marketing, and distribution expenses were approximately HKD 1,373,000, representing about 7.81% of revenue, down from 10.18% in the previous year[27] Revenue Segmentation - Revenue from the funeral services segment was HKD 3,176,000, while the media and entertainment segment generated HKD 14,403,000, totaling HKD 17,579,000[16] - Revenue from the media and entertainment segment reached approximately HKD 14,403,000, a 40.20% increase from HKD 10,273,000 in the same period last year, driven by more concerts organized and invested during the review period[32] - The funeral services and crematorium business generated revenue of approximately HKD 3,176,000, remaining consistent with HKD 3,208,000 in the same period last year[33] Shareholder Information - The beneficial ownership of shares included 431,324,523 shares held by Mr. Tang, representing 35.42% of the issued share capital[39] - Major shareholders include Mr. Tang with 287,549,682 shares, representing 23.61% of the issued share capital[43] - The company has a total of 575,099,364 shares held by concert parties, accounting for 47.22% of the issued share capital[43] - Simple Cheer Limited, fully owned by Mr. Zheng, holds 287,549,682 shares, which is 23.61% of the issued share capital[44] - New Brilliant Investments Limited, fully owned by Mr. Xu, holds 149,472,498 shares, representing 12.27% of the issued share capital[44] Corporate Governance - The company has confirmed compliance with securities trading regulations with no violations reported for the period ending March 31, 2019[45] - The company has adopted the corporate governance code as specified in the GEM Listing Rules[52] - The roles of Chairman and CEO are not separated, as Mr. Tang is currently fulfilling both roles following the resignation of Mr. Xu on March 19, 2018[53] - The audit committee has been established with three independent non-executive directors, ensuring expertise in accounting, financial management, and legal experience[55] - The audit committee's main responsibilities include reviewing the group's financial controls, internal controls, and risk management systems[55] - The audit committee has reviewed the unaudited performance for the three months ending March 31, 2019[56] Future Outlook - The company is optimistic about the growth of the media and entertainment industry in mainland China, with box office revenue increasing by 9.06% to over RMB 60.9 billion (approximately USD 8.9 billion) in 2018[34] - The company plans to expand its concert entertainment business in the Greater Bay Area, anticipating increased disposable income and demand for experiences, travel, and entertainment due to enhanced connectivity from the Hong Kong-Zhuhai-Macao Bridge[34] Other Information - The company has not declared any dividends for the period, consistent with the previous year[6] - The company did not recommend any dividend for the three months ended March 31, 2019, consistent with the previous year[21] - The company had no mortgaged assets or significant contingent liabilities as of March 31, 2019[36] - The company did not purchase, sell, or redeem any of its listed securities during the three months ending March 31, 2019[51] - There are no known conflicts of interest among directors and management shareholders regarding competitive businesses[49] - The company has granted share options to various directors and employees, with a total of 6,500,000 and 3,500,000 shares available for purchase at HKD 0.576 and HKD 0.484 respectively[41] - No share options were cancelled, lapsed, or forfeited during the three months ended March 31, 2019[41] - The company is evaluating the impact of new and revised Hong Kong Financial Reporting Standards but has not yet determined if they will significantly affect operational performance and financial position[12] - The company hosted and invested in more concerts during the review period, contributing to revenue growth[26] - The company announced a mandatory unconditional cash offer to acquire all issued shares on April 9, 2019[25] - Adjusted loss before tax for the period was HKD 7,369,000, with a total loss attributable to owners of the company amounting to HKD 6,506,000[24] - As of March 31, 2019, the total employee cost was approximately HKD 2,665,000, a decrease from HKD 3,098,000 in the same period last year, with the company employing about 63 staff members[35]