Group 1 - The core viewpoint of the articles highlights the significant surge in the stock prices of companies involved in the stablecoin sector following the implementation of the Hong Kong Stablecoin Regulation on August 1 [1][2] - Companies such as China San San Media and Jiamu Technology have seen their stock prices increase by over 1000% this year, while others like Yao Cai Securities and Okex Chain have also experienced substantial gains exceeding 100% [1][5] - The A-share market has similarly witnessed a trend where companies without licenses have seen their stock prices rise due to announcements related to stablecoin business collaborations or strategic plans [1][5] Group 2 - The stock price of Guotai Junan International surged by 198% on June 25 after receiving approval from the Hong Kong Securities and Futures Commission to provide virtual asset trading services, marking the largest single-day gain in the Hong Kong fintech sector [3] - China San San Media announced its preparation for applying for a stablecoin license, leading to a 72.73% increase in its stock price on July 16, with a year-to-date increase of 1839% [4] - Jiamu Technology's stock rose by 22% after announcing that funds from a share placement would be used to enter the stablecoin market, with a year-to-date increase of 1612% [4] Group 3 - The Hong Kong Monetary Authority has indicated that only a few stablecoin licenses will be granted in the initial phase, and even with a license, the short-term profitability for companies remains uncertain due to required resource investments [1][8] - Many companies have not yet generated substantial revenue from their stablecoin-related activities, and some have issued clarifications stating that their contributions to revenue are minimal [8][9] - There is a growing concern about the speculative nature of the stablecoin market, with some companies experiencing stock price increases based solely on announcements of intentions to explore stablecoin business [5][9]

Market Overview - Hong Kong stocks experienced a pullback after an initial rise, with the Hang Seng Index closing down 0.29% at 24,517.76 points and a total trading volume of 258.95 billion HKD [1] - The Hang Seng China Enterprises Index fell 0.18% to 8,861.39 points, while the Hang Seng Tech Index decreased by 0.24% to 5,418.4 points [1] - Shenwan Hongyuan remains optimistic about investment opportunities in Hong Kong and A-share markets, predicting that Hong Kong will play a crucial role in the restructuring of the global financial order [1] Blue Chip Performance - Anta Sports (02020) led blue-chip stocks, rising 2.28% to 91.85 HKD, contributing 4.55 points to the Hang Seng Index [2] - Other notable performers included Kuaishou-W (01024) up 2.13% and Trip.com Group-S (09961) up 1.59%, while Shenzhou International (02313) and Zhongsheng Holdings (00881) saw declines of 2.75% and 2.67%, respectively [2] Sector Highlights - Large tech stocks showed mixed results, with Kuaishou rising over 2% and Baidu nearly 1%, while Tencent fell 0.19% [3] - The humanoid robot sector is gaining traction, with Shengye rising nearly 15% following positive developments [3] - The innovative drug sector remains active, with Lijun Pharmaceutical rising 13% amid ongoing interest in new drug procurement [4][5] Innovative Drug Sector - The 11th batch of national drug procurement has started, focusing on mature "old drugs" while excluding innovative drugs [5] - Analysts believe that the current innovative drug market is driven by value reassessment, with domestic investors increasing their positions through Hong Kong Stock Connect [5] Stablecoin Activity - China San San Media (08087) surged 72.73% after announcing plans to apply for a stablecoin license in Hong Kong, which will officially take effect on August 1 [6] - The global regulatory framework for stablecoins is expected to lead to significant industry growth [6] New Consumption Trends - New consumption stocks showed varied performance, with Guoquan (02517) up 7.29% and Hu Shang Ayi (02589) up 1.99%, while Gu Ming (01364) fell 4.26% [7] - Guoquan expects a net profit of approximately 180 to 210 million RMB for the first half of 2025, representing a year-on-year increase of 111% to 146% [7] Notable Stock Movements - Weiyali (00854) saw a dramatic increase of 288.34% after resuming trading, reaching a peak of 33.2 HKD [8] - Chongqing Machinery (02722) rose 14.06% following news of NVIDIA resuming sales of its H20 chip in China [9] - Jiufang Zhitu Holdings (09636) increased by 10.06% as it plans to issue shares for strategic investments [10] - Quzhi Group (00917) fell 12.06% after announcing a share placement at a discount to its market price [11]

Company Overview - China San San Media Group Limited is a major media operator for China's transportation networks, particularly high-speed rail networks, and has established strong brand recognition and long-term partnerships with various advertisers [3] - The company's main business includes print media, operating magazines approved by the Ministry of Railways, and outdoor media, holding exclusive advertising rights at airports and selected train stations [3] Financial Performance - As of December 31, 2024, China San San Media reported total revenue of 35.446 million yuan, a year-on-year increase of 2.42%, and a net profit attributable to the parent company of -23.085 million yuan, an increase of 58.54% [1] - The company's gross profit margin stands at 66.3%, with a debt-to-asset ratio of 91.6% [1] Stock Performance - As of July 16, the stock price of China San San Media closed at 5.89 HKD per share, reflecting a 72.73% increase, with a trading volume of 4.5616 million shares and a turnover of 24.7571 million HKD [1] - Over the past month, the stock has seen a cumulative increase of 193.97%, and a year-to-date increase of 1000%, outperforming the Hang Seng Index by 22.58% [1] Industry Valuation - Currently, there are no institutional investment ratings for China San San Media, which has a price-to-earnings ratio of -17.73, ranking 99th in its industry [2] - The average price-to-earnings ratio for other financial industry peers is 9.77 times, with other companies like China Merchants China Fund at 2.61 times and Weixin Jinkou at 3.53 times [2]

Company Overview - China San San Media Group Limited is a major channel media operator in China's transportation network, particularly in high-speed rail [2] - The company has established strong brand recognition and long-term partnerships with various advertisers, laying a solid foundation for future expansion [2] Business Operations - The main business segments include print media, operating magazines approved by the Ministry of Railways, and outdoor media with exclusive advertising rights at airports and selected train stations [2] - The company operates magazines such as "Travel Companion" and "Urban Life," and has exclusive advertising rights for LED screens and light boxes at selected locations [2] - The diverse media platform across multiple public transport networks helps attract a wide range of advertisers from various industries, including luxury goods, automotive, real estate, telecommunications, and fashion [2] Financial Performance - As of December 31, 2024, the company achieved total revenue of 35.446 million yuan, a year-on-year increase of 2.42% [1] - The net profit attributable to the parent company was -23.085 million yuan, reflecting a year-on-year increase of 58.54% [1] - The gross profit margin stood at 66.3%, while the debt-to-asset ratio was 91.6% [1] Stock Performance - As of July 7, the stock price was 1.99 HKD per share, with a 22.09% increase and a trading volume of 1.2042 million shares [1] - Over the past month, the stock has risen by 114.47%, and year-to-date, it has increased by 425.81%, outperforming the Hang Seng Index by 19.22% [1] Industry Valuation - The average price-to-earnings (P/E) ratio for the other financial industry is 7.24 times, with a median of -0.19 times [1] - China San San Media's P/E ratio is -7.06 times, ranking 116th in the industry [1] - Comparatively, other companies in the sector have P/E ratios ranging from 2.45 to 5.14 times [1]

Summary of Key Points Core Viewpoint - As of July 3, a total of 120 stocks reached their 52-week highs, indicating a strong market performance with notable leaders in the list [1]. Group 1: Top Performers - The top three stocks with the highest increase rates are: - 富誉控股 (Fuyou Holdings) at 90.76%, closing at 0.435 with a peak of 0.475 [1] - 信义能源 (Xinyi Energy) at 65.00%, closing at 1.200 with a peak of 1.980 [1] - 中国三三传媒 (China San San Media) at 42.86%, closing at 1.710 with a peak of 1.900 [1] Group 2: Additional Notable Stocks - Other notable stocks include: - ITE HOLDINGS at 34.21% increase, closing at 0.047 with a peak of 0.051 [1] - 星凯控股 (Xingkai Holdings) at 30.00%, closing at 0.480 with a peak of 0.650 [1] - 北京北辰实业股份 (Beijing Beichen Industrial) at 26.47%, closing at 0.940 with a peak of 1.290 [1] Group 3: Overall Market Trends - The overall trend shows a significant number of stocks achieving new highs, reflecting positive investor sentiment and market conditions [1].

Group 1: Company Overview - China San San Media Group Limited is a major channel media operator in China's transportation network, particularly in high-speed rail media [3] - The company has established strong brand recognition and long-term partnerships with various advertising clients, which supports its future expansion [3] - Key business segments include print media, such as the magazine "Travel Companion" and various publications distributed on high-speed trains, as well as outdoor media with exclusive advertising rights at airports and selected train stations [3] Group 2: Financial Performance - As of December 31, 2024, the company achieved total revenue of 35.446 million yuan, a year-on-year increase of 2.42% [1] - The net profit attributable to the parent company was -23.085 million yuan, reflecting a year-on-year improvement of 58.54% [1] - The gross profit margin stood at 66.3%, while the debt-to-asset ratio was 91.6% [1] Group 3: Market Performance - As of July 3, the stock price of China San San Media closed at 1.71 HKD per share, marking a 32.56% increase with a trading volume of 1.2939 million shares [1] - Over the past month, the stock has seen a cumulative increase of 63.29%, and a year-to-date increase of 316.13%, outperforming the Hang Seng Index by 20.75% [1] - The current price-to-earnings ratio for China San San Media is -5.59, ranking 122nd in its industry, while the average TTM P/E ratio for other financial sectors is 8.23 [2]

Group 1 - The core viewpoint of the article highlights the significant stock performance of China San San Media, with a year-to-date increase of 138.71%, outperforming the Hang Seng Index by 20.45% [1] - As of June 11, the Hang Seng Index rose by 0.84% to close at 24,366.94 points, while China San San Media's stock price increased by 56.76% to HKD 1.16 per share, with a trading volume of 276,200 shares and a turnover of HKD 28.93 million [1] - Financial data shows that for the year ending December 31, 2024, China San San Media achieved total revenue of HKD 35.446 million, a year-on-year increase of 2.42%, while the net profit attributable to the parent company was a loss of HKD 23.085 million, but this represented a year-on-year improvement of 58.54% [1] Group 2 - China San San Media is a major media operator for China's transportation networks, particularly high-speed rail, and has established strong brand recognition and long-term partnerships with various advertisers [2] - The company's main business includes print media, operating magazines approved by the Ministry of Railways, and outdoor media, holding exclusive advertising rights at airports and selected train stations [2] - The rapid development of China's high-speed rail network is expected to drive strong growth for the company's media channels, allowing it to reach more business and leisure travelers [2]

Financial Performance - The group's total revenue increased by approximately RMB 838,000 or 2.4% to about RMB 35,446,000 compared to the previous year, primarily driven by the prepaid card business[11]. - Gross profit rose by approximately RMB 7,711,000 or 48.8% to about RMB 23,501,000, with the gross profit margin increasing from 45.6% to 66.3%[15]. - Total comprehensive expenses attributable to the owners of the company decreased by approximately RMB 46,554,000 or 93.9% to about RMB 3,039,000, mainly due to the absence of film copyright impairment this year[11]. - The company reported a pre-tax loss of RMB 24,068,000 for 2024, a reduction in loss from RMB 55,726,000 in 2023, showing an improvement of 56.9%[178]. - The total comprehensive loss for the year was RMB 4,022,000, significantly improved from RMB 49,633,000 in 2023, showing a reduction of 91.9%[178]. - The company recognized a foreign exchange gain of RMB 20,046,000 from overseas operations in 2024, compared to RMB 6,093,000 in 2023, representing a substantial increase of 228.5%[178]. Business Segments - Outdoor and digital advertising revenue decreased by approximately RMB 2,052,000 or 81.3% to about RMB 471,000, attributed to intense industry competition and a reduction in client numbers[17]. - The outdoor and digital advertising segment recorded a loss of approximately RMB 4,685,000, a decrease of about RMB 102,000 or 2.1% compared to the previous year[18]. - The film and entertainment investment segment reported no revenue for the year, compared to approximately HKD 6,163,000 in 2023, with a segment loss of approximately RMB 21,484,000, a decrease of RMB 33,122,000 or 60.7% year-over-year[20]. - The prepaid card business revenue increased by approximately RMB 8,163,000 or 31.5% to approximately RMB 34,085,000, driven by an increase in the number of prepaid cards sold[21]. Cost Management - Sales costs decreased by approximately RMB 6,873,000 or 36.5% to RMB 11,945,000, primarily due to cost control measures implemented during the year[23]. - Selling and distribution expenses rose by approximately RMB 1,695,000 or 96.9% to RMB 3,445,000, mainly due to increased advertising expenses[24]. - Administrative expenses increased by approximately RMB 4,127,000 or 14.1% to RMB 33,451,000, attributed to higher salaries and legal costs[25]. Cash and Assets - The group’s cash and cash equivalents increased by approximately RMB 6,390,000 or 38.0% to RMB 23,195,000 as of December 31, 2024[33]. - Restricted cash increased by approximately RMB 106,869,000 or 59.0% to RMB 288,078,000, due to an increase in prepaid card sales[35]. - Total assets increased to RMB 348,279,000 in 2024 from RMB 263,218,000 in 2023, representing a growth of 32.4%[180]. Corporate Governance - The company has maintained compliance with the GEM Listing Rules and the Corporate Governance Code throughout the year[42]. - The board emphasizes the importance of corporate culture for long-term operational success and sustainable growth[43]. - The board consists of a balanced mix of executive and independent non-executive directors, ensuring appropriate governance[44]. - The company has established policies to ensure the independence of the board and its committees[47]. - The board has adopted a diversity policy aimed at enhancing company performance, considering various factors such as skills, experience, gender, and age distribution[57]. Risk Management - The board is responsible for maintaining an effective risk management and internal control system to protect shareholder interests[81]. - The company engaged external consultants to review the effectiveness of its risk management and internal control systems, with no significant concerns identified[84]. - The risk management system is regularly reviewed by the board to ensure effectiveness and adequacy in managing identified risks[86]. Shareholder Communication - The company emphasizes the importance of effective communication with shareholders to enhance investor relations and understanding of business performance and strategies[85]. - The board regularly reviews the shareholder communication policy to ensure effective engagement with investors[87]. - The company is committed to timely and detailed responses to investor inquiries to strengthen communication and relationships[87]. Related Party Transactions - The company has engaged in related party transactions, which are classified as non-exempt continuing connected transactions under GEM Listing Rules[145]. - The framework agreements established on December 17, 2010, govern the relationship between the company and its related parties, ensuring oversight and control[145]. - The company confirms compliance with GEM Listing Rules regarding the disclosure of related party transactions[145]. Stock Options and Equity - The company adopted a stock option plan approved by shareholders on June 30, 2021, with no unexercised options as of December 31, 2024[122]. - The stock options granted on April 11, 2022, had an exercise price of HKD 0.448, with a theoretical value of HKD 0.440 at the time of grant[122]. - The company has adopted a share option scheme to incentivize directors and eligible participants, with details available in the financial statements[142]. Environmental Commitment - The company is committed to reducing its negative environmental impact and will publish an Environmental, Social, and Governance report[110].

Financial Performance - The total revenue for the year ended December 31, 2024, increased to approximately RMB 35,446,000, representing a growth of 2.4% from approximately RMB 34,608,000 in the previous year, primarily driven by the prepaid card business[15]. - The overall gross profit rose to approximately RMB 23,501,000, an increase of approximately RMB 7,711,000 or 48.8%, with the gross profit margin improving from 45.6% to 66.3%[19]. - The total comprehensive expenses attributable to the owners of the company for the year were approximately RMB 3,039,000, a significant decrease of approximately RMB 46,554,000 or 93.9% compared to RMB 49,593,000 in the previous year[15]. - The increase in revenue was attributed to a cumulative rise in the number of prepaid cards sold, leading to higher transaction fees and related income[19]. - The company reported a pre-tax loss of RMB 24,068,000 for 2024, a reduction in loss from RMB 55,726,000 in 2023, reflecting an improvement of 56.9%[182]. - The total comprehensive loss for the year was RMB (4,022,000), significantly improved from RMB (49,633,000) in 2023, reflecting a reduction of 91.9%[182]. - The basic and diluted loss per share for 2024 was RMB (53.44), improved from RMB (128.90) in 2023[182]. Business Segments - The report includes a comprehensive financial summary and analysis of the company's performance across its main business segments, including outdoor and digital advertising, film and entertainment investment, and prepaid card services[19]. - Outdoor and digital advertising revenue decreased by approximately RMB 2,052,000 or 81.3% to about RMB 471,000, primarily due to intense industry competition[21]. - The outdoor and digital advertising segment reported a loss of approximately RMB 4,685,000, a decrease of about RMB 102,000 or 2.1% compared to the previous year[22]. - Movie and entertainment segment generated no revenue this year, down from approximately RMB 6,163,000 in 2023, with a loss of about RMB 21,484,000, a reduction of RMB 33,122,000 or 60.7%[24]. - Prepaid card business revenue increased by approximately RMB 8,163,000 or 31.5% to about RMB 34,085,000, driven by an increase in the number of prepaid cards sold[25]. Cost Management - Cost of sales decreased by approximately RMB 6,873,000 or 36.5% to RMB 11,945,000, mainly due to cost control measures implemented this year[27]. - Selling and distribution expenses increased by approximately RMB 1,695,000 or 96.9% to about RMB 3,445,000, primarily due to increased advertising expenses[28]. - Administrative expenses rose by approximately RMB 4,127,000 or 14.1% to about RMB 33,451,000, mainly due to increases in salaries and legal fees[29]. Cash and Assets - Cash and cash equivalents increased by approximately RMB 6,390,000 or 38.0% to about RMB 23,195,000 as of December 31, 2024[37]. - Restricted cash increased by approximately 59.0% to about RMB 288,078,000 due to an increase in prepaid card sales[39]. - Total assets decreased from RMB 348,279,000 in 2023 to RMB 263,218,000 in 2024, a decline of approximately 24.5%[184]. - The company’s total liabilities increased from RMB 238,882,000 in 2023 to RMB 328,808,000 in 2024, an increase of 37.6%[184]. Corporate Governance - The company has established a policy to ensure the independence of non-executive directors, with all independent non-executive directors confirmed as independent according to GEM Listing Rules[53]. - The board consists of a balanced mix of executive and independent non-executive directors, ensuring compliance with GEM Listing Rules regarding board composition[50]. - The board is committed to maintaining high standards of corporate governance and has adhered to the GEM Listing Rules throughout the year[46]. - The company has adopted a board diversity policy aimed at enhancing performance, considering various factors such as skills, experience, and gender diversity[60]. - The board has established measurable goals for diversity, including ensuring at least one member has accounting qualifications and a gender-balanced composition[62]. Risk Management - The company has established a risk management policy that outlines the identification, assessment, and management processes for major business risks[87]. - The board is responsible for maintaining an effective risk management and internal control system to protect shareholder interests and company assets[85]. - The company has engaged external consultants to review the effectiveness of its risk management and internal control systems, with no significant concerns identified that could impact financial, operational, compliance, or risk management aspects[88]. Shareholder Relations - The company has adopted a shareholder communication policy to enhance investor relations and ensure timely disclosure of company information[89]. - Each department is responsible for identifying and assessing key risks quarterly, with management overseeing risk management activities[90]. - Shareholders can propose resolutions at general meetings, with voting conducted on a one-share-one-vote basis[92]. - The company has a dividend policy in place since January 1, 2019, which considers financial performance, cash flow, and regulatory constraints before declaring dividends[99]. Related Party Transactions - The company has engaged in related party transactions, which are classified as non-exempt continuing connected transactions under GEM Listing Rules[149]. - The framework agreements established in December 2010 remain effective, ensuring that significant business transactions require prior written consent from Ao Shen Technology[149]. - The company confirms compliance with GEM Listing Rules regarding the disclosure of related party transactions[148]. Employee Information - As of December 31, 2024, the group employed a total of 35 employees in China and Hong Kong, an increase from 34 employees in 2023[44]. - Total employee costs, including director remuneration, amounted to RMB 16,068,000 for the year, compared to RMB 13,761,000 in 2023, reflecting an increase of approximately 16.5%[44]. - The total employee cost increase of RMB 3,307,000 from the previous year indicates a focus on talent retention and compensation adjustments[44].

Financial Performance - The company reported revenue of RMB 17,948,000 for the six months ended June 30, 2024, a decrease of 5.6% compared to RMB 19,055,000 for the same period in 2023[5] - Gross profit increased significantly to RMB 11,715,000, up 102.1% from RMB 5,783,000 in the previous year[5] - The company incurred a loss before tax of RMB 5,368,000, compared to a loss of RMB 2,177,000 in the same period last year, indicating a worsening financial performance[5] - Total comprehensive loss for the period amounted to RMB 7,832,000, compared to a minimal loss of RMB 85,000 in the previous year[6] - The basic and diluted loss per share was RMB (2.99), compared to RMB (1.25) in the previous year, reflecting a higher loss per share[6] - The company reported a net loss of RMB 5,160,000 for the six months ended June 30, 2024, compared to a loss of RMB 2,163,000 in the same period of 2023[10] - The company’s total loss for the six months ended June 30, 2024, was RMB (5,160,000), reflecting ongoing challenges in the market[25] - The financial cost for the six months ended June 30, 2024, was RMB 708,000, slightly down from RMB 720,000 in the same period of 2023[21] Revenue Breakdown - Total revenue for the six months ended June 30, 2024, was RMB 17,948,000, a decrease from RMB 19,055,000 in the same period of 2023, primarily due to a significant drop in outdoor and digital advertising revenue[16] - The company generated RMB 17,847,000 in prepaid card revenue for the six months ended June 30, 2024, an increase of 56.5% from RMB 11,401,000 in the same period of 2023[16] - The company’s outdoor and digital advertising revenue significantly declined to RMB 101,000 for the six months ended June 30, 2024, from RMB 2,289,000 in the same period of 2023[16] - Total revenue for the six months ended June 30, 2024, was approximately RMB 17,847,000, a decrease of about RMB 1,208,000 or 6.3% compared to the same period last year[33] Assets and Liabilities - The company's non-current assets increased to RMB 10,714,000 as of June 30, 2024, compared to RMB 10,188,000 at the end of 2023[8] - Trade receivables decreased to RMB 32,886,000 from RMB 36,440,000 at the end of 2023, reflecting a decline in outstanding customer payments[8] - Current liabilities rose to RMB 300,387,000, up from RMB 238,882,000 at the end of 2023, indicating increased financial obligations[8] - The company's total equity attributable to owners decreased to RMB 28,259,000 as of June 30, 2024, down from RMB 35,883,000 as of December 31, 2023[10] - The company’s total assets decreased to RMB 26,560,000 as of June 30, 2024, compared to RMB 34,392,000 as of December 31, 2023[10] - Trade payables as of June 30, 2024, were RMB 28,459,000, compared to RMB 19,053,000 as of December 31, 2023, indicating an increase in liabilities[28] Cash Flow and Liquidity - The company reported cash and cash equivalents of RMB 21,924,000, an increase from RMB 16,805,000 at the end of 2023, suggesting improved liquidity[8] - For the six months ended June 30, 2024, the company reported a net cash inflow from operating activities of RMB 5,914,000, compared to a net outflow of RMB 12,263,000 in the same period of 2023[11] - The net cash and cash equivalents at the end of the period increased to RMB 21,924,000, up from RMB 11,363,000 at the end of June 2023[11] - The company’s financing activities generated a net cash inflow of RMB 643,000 for the six months ended June 30, 2024, compared to a net outflow of RMB 1,231,000 in the same period of 2023[11] Operational Challenges and Strategies - The company continues to explore new strategies for market expansion and product development to improve future performance[2] - The company suspended further investment in the film and entertainment business due to significant challenges and declines in revenue[35] - The company will continue to focus on developing its prepaid card business amid uncertainties in the business environment[51] Employee and Administrative Expenses - The company’s employee benefit expenses for the six months ended June 30, 2024, totaled RMB 6,594,000, an increase from RMB 6,075,000 in the same period of 2023[22] - Selling and distribution expenses rose by approximately RMB 987,000 or 100.4% to RMB 1,970,000, primarily due to increased advertising and marketing expenses[41] - Administrative expenses increased by approximately RMB 2,951,000 or 32.0% to RMB 12,170,000, attributed to higher corporate expenses[42] - Total employee costs, including director remuneration, were approximately RMB 6,594,000 for the six months ended June 30, 2024, compared to RMB 6,075,000 for the same period in 2023[50] Other Financial Information - The company experienced a foreign exchange loss of RMB 2,464,000 during the six months ended June 30, 2024[11] - The loss from other gains and losses increased by approximately RMB 4,960,000 or 268.4% to a net loss of RMB 6,808,000[40] - The company reported a total loss of RMB (6,808,000) from financial assets measured at fair value through profit or loss for the six months ended June 30, 2024, compared to a loss of RMB (1,833,000) for the same period in 2023[20] - The group has no significant contingent liabilities or capital commitments as of June 30, 2024[47][48] - The group has no major investments, acquisitions, or disposals planned as of June 30, 2024[55] Governance and Compliance - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited consolidated results for the six months ending June 30, 2024, and found them to be in accordance with applicable accounting standards[64] - The company has adopted a code of conduct for securities trading by directors, confirming compliance with the required standards for the six months ending June 30, 2024[61] - As of June 30, 2024, there were no unexercised options under the stock option plan, which was approved by shareholders on June 30, 2021[63] - The board believes that the foreign exchange risk is not significant, with no hedging activities undertaken for the six months ended June 30, 2024[49]