Financial Performance - For the six months ended December 31, 2024, the Company reported revenue of HK$19,976,000, a decrease of 79.8% compared to HK$99,003,000 in the same period of 2023[8]. - The gross profit for the period was HK$131,000, compared to a gross loss of HK$24,932,000 in the previous year, indicating a significant improvement[8]. - Profit before tax for the six months was HK$203,000, down from HK$1,999,000 in the prior year, reflecting a decline of 89.8%[8]. - The Company recorded a profit attributable to owners of HK$343,000, compared to HK$1,828,000 in the same period last year, representing a decrease of 81.2%[8]. - Total comprehensive income attributable to owners of the Company for the year was a loss of HK$4,324,000, compared to a gain of HK$5,805,000 in the previous year[9]. - The company reported a loss for the period of HK$343,000 for the six months ended December 31, 2024, compared to a loss of HK$1,828,000 in the same period of the previous year[15]. - Total comprehensive income for the period was a loss of HK$4,324,000, which includes a loss of HK$343,000 and other comprehensive expenses of HK$4,667,000[15]. - The Group recorded profits of approximately HK$0.3 million for the six months ended December 31, 2024, compared to HK$1.8 million for the same period in 2023[98]. - The Group recorded a profit of approximately HK$0.3 million for the six months ended December 31, 2024, compared to a profit of HK$1.8 million for the same period in 2023, indicating a decrease in profitability[102]. Revenue Breakdown - The Group's revenue from internet advertising agency services for the six months ended December 31, 2024, was HK$19,976,000, a decrease of 79.8% compared to HK$98,805,000 for the same period in 2023[34]. - The digitalization empowerment platform business generated no revenue for the six months ended December 31, 2024, compared to HK$198,000 in 2023[34]. - Total revenue for the six months ended December 31, 2024, was HK$19,976,000, down from HK$99,003,000 in 2023, reflecting a decline of 79.8%[34]. - The cost of sales amounted to approximately HK$19.8 million for the six months ended 31 December 2024, a decrease of approximately 84% from HK$123.9 million for the same period in 2023[84]. - The gross profit margin for the six months ended 31 December 2024 was approximately 0.7%, an increase of 25.9% compared to a gross loss margin of approximately 25.2% for the same period in 2023[85]. Assets and Liabilities - Trade receivables increased to HK$14,468,000 from HK$5,655,000, showing a rise of 155.5%[11]. - Current assets totaled HK$110,404,000, up from HK$97,218,000, indicating a growth of 13.5%[11]. - Current liabilities increased to HK$55,338,000 from HK$37,829,000, reflecting a rise of 46.2%[11]. - Net current assets decreased to HK$55,066,000 as of December 31, 2024, down from HK$59,389,000 on June 30, 2024, representing a decline of approximately 7.3%[12]. - Total assets less current liabilities also fell to HK$55,071,000 from HK$59,395,000, indicating a decrease of about 7.3%[12]. Cash Flow and Financing - Cash generated from operating activities was HK$3,303,000 for the six months ended December 31, 2024, compared to a cash outflow of HK$7,526,000 in the prior year[18]. - Cash and cash equivalents at the end of the period stood at HK$4,554,000, down from HK$7,101,000 a year earlier, reflecting a decrease of approximately 35.5%[18]. - The company issued shares amounting to HK$9,312,000 during the period, increasing the share capital to HK$6,872,000 as of December 31, 2024[15]. - The gross proceeds from the issuance of 101,600,000 shares were estimated at HK$12.7 million, with net proceeds of approximately HK$12.6 million intended for future business development and repayment of borrowings[117]. - The Group's total debt to equity ratio was 0% as of December 31, 2024, down from 3.1% as of June 30, 2024, reflecting a reduction in outstanding borrowings to HK$0 million[106]. Corporate Governance - The Company has adopted a code of conduct for securities transactions in compliance with GEM Listing Rules[171]. - The Corporate Governance Code has been adopted as per the requirements during the six months ended December 31, 2024[172]. - The Group complied with the Corporate Governance Code during the six months ended December 31, 2024, with some deviations noted[176]. - The Audit Committee reviewed the audited consolidated interim results for the six months ended December 31, 2024, prior to recommending them to the Board for approval[183]. - The Board consists of both executive and independent non-executive Directors, reflecting a balanced governance approach[184]. Employee and Workforce - As of December 31, 2024, the Group had a total workforce of 14 employees, with total staff costs for the six months ended December 31, 2024, approximately HK$0.8 million, a decrease of 50% from HK$1.6 million for the same period in 2023[136][140]. - The Group's employee remuneration policy is reviewed annually, and includes salaries, discretionary bonuses, and pension scheme contributions[137][140]. - The Group provides various training programs to enhance employees' technical skills and safety awareness[139][141]. Strategic Initiatives - The Company continues to explore new strategies for market expansion and product development to enhance future performance[6]. - The Group is committed to product development and business expansion, consolidating existing businesses and seeking new opportunities[78]. Shareholding Structure - As of December 31, 2024, the Company had 687,200,000 shares in issue[153][156]. - Mr. Gan Xiaohua holds 8,005,000 shares, representing approximately 1.16% of the issued share capital as of December 31, 2024[149]. - Zhu Yongjun holds 38,398,786 shares, representing approximately 5.59% of the issued share capital[159]. - 7Road Holdings Limited owns 54,000,000 shares, accounting for 12.86% of the issued share capital[159]. - Xie Ming has a beneficial ownership of 56,750,000 shares, which is 8.26% of the issued share capital[160]. - Shanghai Angell Asset Management Company Limited holds 72,497,169 shares, representing 10.55% of the issued share capital[160]. - Jilin Province Investment Group's deemed shareholdings are based on a 37.03% capital commitment in SHIC[169]. Risk Management - The Group's risk management policy aims to minimize adverse effects from market risks, ensuring efficient and effective operations[127]. - The Group has not engaged in any significant acquisitions or disposals for the year ending December 31, 2024[133]. - There were no major events or changes in risk management strategies reported during the period[132].

Financial Performance - The company reported revenue of HKD 19,976,000 for the six months ending December 31, 2024, compared to HKD 99,003,000 for the same period in 2023, representing a decrease of approximately 79.8%[5] - The cost of goods sold was HKD 19,845,000, leading to a gross profit of HKD 131,000, compared to a gross loss of HKD 24,932,000 in the previous year[5] - The company recorded a net loss attributable to shareholders of HKD 343,000 for the current period, compared to a net loss of HKD 1,828,000 for the same period last year, indicating an improvement in performance[5] - Other income and gains amounted to HKD 2,742,000, down from HKD 29,846,000 in the previous year, reflecting a significant decline[5] - The basic and diluted earnings per share were HKD 0.05, compared to HKD 0.36 in the same period last year, showing a decrease in profitability[7] - The group reported revenue from internet advertising agency services of HKD 19,976,000 for the year ending December 31, 2024, and HKD 98,805,000 for the year ending December 31, 2023[19] - Revenue from digital industry empowerment platform business was HKD 198,000 for the year ending December 31, 2024, and HKD 99,003,000 for the year ending December 31, 2023[19] - The group reported a current tax expense of HKD 171,000 for the year ending December 31, 2024, with a prior year excess provision of HKD (140,000)[22] - The company recorded revenue of approximately HKD 20 million for the six months ending December 31, 2024, a decrease of about 79.8% compared to HKD 99 million for the same period in 2023[41] - The cost of sales for the same period was approximately HKD 19.8 million, down about 84% from HKD 123.9 million in the previous year, primarily due to the contraction of the old business[42] - The gross profit margin for the six months ending December 31, 2024, was approximately 0.7%, an improvement of 25.9% compared to a gross loss margin of 25.2% in the previous year[42] - Other income, gains, and losses for the six months ending December 31, 2024, amounted to a net gain of approximately HKD 2.7 million, down from HKD 29.8 million in the same period of 2023[45] - The group recorded a profit of approximately HKD 0.3 million for the six months ended December 31, 2024, compared to HKD 1.8 million for the same period in 2023[50] Assets and Liabilities - The company reported a total current assets of HKD 110,404,000 as of December 31, 2024, compared to HKD 97,218,000 as of June 30, 2024, representing an increase of approximately 13.5%[9] - Trade receivables amounted to HKD 14,468,000, showing a significant increase from HKD 5,655,000 in the previous period, indicating a growth of approximately 155.5%[9] - The total liabilities decreased from HKD 55,338,000 to HKD 37,829,000, reflecting a reduction of about 31.5%[9] - The company's total assets, net of current liabilities, stood at HKD 55,071,000, down from HKD 59,395,000, indicating a decline of approximately 7.3%[9] - The company's equity totaled HKD 55,071,000, compared to HKD 59,395,000 in the previous period, representing a decrease of about 7.3%[9] - The company's trade payables and notes payable amounted to HKD 18,105 thousand as of December 31, 2024[10] - The group had no outstanding borrowings as of December 31, 2024, down from HKD 1.9 million as of June 30, 2024[52] - The debt-to-equity ratio was approximately 0% as of December 31, 2024, compared to 3.1% as of June 30, 2024[52] Business Operations - The company operates primarily in the internet advertising agency services and digital industry empowerment platform business[10] - The company aims to continue developing its digital industry empowerment platform and expand its business in response to the rapid recovery of the Chinese economy[40] - The company has invested in the research and development of its digital industry empowerment platform to enhance personalized advertising capabilities and customer engagement[36] - The group has strategic business units for different products and services, including internet advertising agency services and digital industry empowerment platform business[18] Corporate Governance - The company has maintained a consistent accounting policy in line with Hong Kong Financial Reporting Standards as of December 31, 2024[12] - The financial statements are prepared based on historical cost principles, ensuring consistency in reporting[13] - The company is registered in the Cayman Islands and listed on the GEM of the Hong Kong Stock Exchange[10] - The group expects that the newly issued and amended Hong Kong Financial Reporting Standards will not have a significant impact on the consolidated financial statements in the foreseeable future[16] - The group has implemented the revised Hong Kong Financial Reporting Standards effective from January 1, 2024, which includes changes related to lease liabilities and classification of liabilities[15] - The group has not applied the newly issued and amended financial reporting standards that are not yet effective, indicating a cautious approach to regulatory changes[16] - The company has adopted a set of conduct rules for directors regarding securities trading, compliant with GEM listing rules[68] - The company has adhered to the corporate governance code as per GEM listing rules, with some deviations disclosed[69] - The audit committee has been established in accordance with GEM listing rules, consisting of Mr. Chen Ce (Chairman), Ms. Zhu Minli, and Ms. Zhu Xiaolin, all of whom are independent non-executive directors[74] - The audit committee reviewed the financial statements for the six months ending December 31, 2024, prior to making recommendations to the board for approval[74] - Ms. Zhu Minli and Ms. Zhu Xiaolin were appointed as independent non-executive directors effective January 20, 2025[74] Employee and Tax Information - Total employee costs for the six months ended December 31, 2024, were approximately HKD 0.8 million, a decrease from HKD 1.6 million for the same period in 2023[62] - The group provides a monthly contribution of 5% of employees' monthly income to the Mandatory Provident Fund, with a maximum monthly contribution of HKD 1,500[64] - The group is responsible for making contributions to the retirement benefit plan for eligible employees in China, calculated as a percentage of applicable salary costs[64] - The corporate income tax rate in China is set at 25% for the year 2023, but the group did not report any taxable profits subject to this tax[23] Dividends and Share Information - The company does not recommend paying dividends for the six months ending December 31, 2024, similar to the previous year[25] - The group has not issued any potential ordinary shares for the years ending December 31, 2024, and December 31, 2023, resulting in no diluted loss per share being presented[27] - The total issued and paid-up capital was 6,872 million shares as of the reporting date[32] - There have been no purchases, sales, or redemptions of the company's listed securities as of December 31, 2024[67]

Financial Performance - Million Stars Holdings reported a revenue of HK$124.5 million for the year, representing a 77.9% increase compared to the previous year[11]. - The Group recorded a revenue of approximately HK$124.5 million for the year ended June 30, 2024, representing an increase of approximately 77.9% compared to about HK$70 million for the year ended June 30, 2023[22]. - Revenue generated from the internet advertising services business segment was approximately HK$124.34 million, representing an increase of approximately 218.5% compared to the previous year[23]. - The increase in revenue was mainly due to the repositioning of the Group's strategic decisions based on existing marketing budgets, regaining lost customers, and increased investment in the mobile game business[23]. - The Group recorded a profit of approximately HK$17.5 million for the year ended June 30, 2024, compared to a loss of HK$30.0 million for the year ended June 30, 2023[26]. - Other income, gains, and losses, net, amounted to net income of approximately HK$39.1 million for the year ended June 30, 2024, compared to net losses of approximately HK$7.2 million for the year ended June 30, 2023[25]. - The Group's cost of sales amounted to approximately HK$136.9 million for the year ended 30 June 2024, an increase of approximately 89.4% compared to HK$72.3 million for the year ended 30 June 2023[25]. - Gross loss margin for the year ended 30 June 2024 was approximately 9.9%, which was 6.6% higher than the gross loss margin of approximately 3.3% for the year ended 30 June 2023[25]. Corporate Governance - Corporate governance has been strengthened to enhance operational quality and efficiency[11]. - The Group is committed to high-quality development and strengthening corporate governance to improve operational efficiency[12]. - The Company has adopted the Corporate Governance Code provisions in force during the year ended June 30, 2024[102]. - The Group was in compliance with the Corporate Governance Code, except for certain disclosed deviations[102]. - The Company has established four committees: Audit Committee, Remuneration Committee, Nomination Committee, and Corporate Governance Committee, to oversee various aspects of the Group's affairs[153]. - The Company has arranged appropriate liability insurance for Directors and officers, with coverage reviewed annually[149]. - The Board has ensured that at least one-third of its members are independent non-executive Directors, fulfilling the requirement set out in the corporate governance code[124]. - The Company has implemented a whistleblowing policy for employees and stakeholders to report concerns confidentially regarding possible improprieties[198]. Strategic Development - The digital economy's accelerated development has expanded application scenarios, particularly in AI models and Web3 technologies, presenting new opportunities for innovation[9]. - The Group has commenced development in the Web3 arena, investing significantly in Web3 product R&D and related infrastructure[13]. - The strategic planning includes deployment for Web3 media in Hong Kong, cloud computing platforms in North America, and blockchain hardware wallet systems[21]. - The Group aims to become a leading Web3 e-commerce service provider, focusing on the development of the Web3 E-commerce SAAS System[21]. - Future expansion will include blockchain technologies, metaverse, and AI development[21]. Management and Workforce - As of June 30, 2024, the Group had a workforce of 14 employees, down from 22 in 2023, with total staff costs approximately HK$2 million compared to HK$5 million in 2023[36]. - The Group's employee remuneration policy includes salaries, discretionary bonuses, and pension scheme contributions, with a review conducted annually by the Remuneration Committee[36]. - Monthly contributions to the Mandatory Provident Fund for employees in Hong Kong are 5% of their monthly income, capped at HK$1,500[36]. - Employees in the PRC are enrolled in government retirement benefit schemes, with contributions based on certain percentages of applicable payroll costs as stipulated by PRC regulations[36]. Risk Management - The Group's risk management policies aim to minimize the adverse impact of market risks, including currency and interest rate risks[32]. - The Audit Committee conducted an annual review of the risk management and internal control systems, concluding they were effective and adequate for the year[198]. - The Board engaged PAL Advisory Limited to perform an internal control review on major business operations, identifying deficiencies in the internal control systems[192]. - An internal control review report was prepared with findings and recommendations, which the Board will act upon to improve internal control systems[192]. - Management has formulated remedial action plans to address gaps identified during internal control assessments, covering core business areas[193]. Shareholder Information - The Board does not recommend the payment of any dividend for the year ended 30 June 2024, consistent with the previous year where no dividend was paid[48]. - The Company has established a dividend policy aimed at allowing shareholders to participate in profits while retaining adequate reserves for future growth[185]. - The Company changed its name from "Million Stars Holdings Limited" to "Web3 Meta Limited" effective from 12 September 2024[48]. - The Company has not identified any competing business interests among its directors or controlling shareholders for FY2024[99]. Auditor and Financial Reporting - The consolidated financial statements for FY2024 have been audited by Prism Hong Kong Limited[101]. - The Company appointed CCTH CPA Limited as its new auditor following the resignation of Yongtuo Fuson CPA Limited[99]. - The fees paid to auditors for audit services amounted to HK$700,000 for the year[179]. - The external auditor attended the annual general meeting to answer relevant questions from shareholders[105]. Capital and Financing - The company entered into subscription agreements on November 15, 2023, for a total of 77,600,000 ordinary shares at HK$0.12 per share, raising a total subscription price of HK$9,312,000[59]. - The funds raised from the subscriptions amounted to HK$9,112,000, with a share premium of approximately HK$8,536,000 credited to the company's share premium account[59]. - A subsequent subscription agreement dated March 11, 2024, involved the subscription of 101,600,000 ordinary shares at HK$0.125 per share, raising a total subscription price of HK$12,700,000[60]. - The company plans to use the net proceeds from the November 2023 subscription for future business development and repayment of borrowings, with net proceeds estimated at approximately HK$9,112,000[60]. - The company aims to strengthen its capital base and financial position for future business developments through these subscriptions[59][60].

Financial Performance - The company reported a total revenue of HKD 124,541,000 for the year ending June 30, 2024, compared to HKD 69,962,000 for the previous year, representing an increase of 78.1%[2] - The gross loss for the year was HKD 12,370,000, a significant decline from the previous year's gross loss of HKD 2,306,000[2] - The company achieved a profit before tax of HKD 16,432,000, recovering from a loss of HKD 30,041,000 in the previous year[2] - The net profit attributable to shareholders was HKD 17,535,000, compared to a loss of HKD 29,991,000 in the previous year[2] - The total comprehensive income for the year was HKD 23,886,000, a recovery from a loss of HKD 42,255,000 in the previous year[3] - Basic and diluted earnings per share were HKD 3.06, compared to a loss per share of HKD 6.10 in the previous year[3] - The company reported a net loss of HKD 39,084 thousand in 2024, compared to a net loss of HKD 7,147 thousand in 2023[17] - The company reported a basic loss attributable to shareholders of HKD 17,535,000 for the year ending June 30, 2024, compared to a loss of HKD 29,991,000 for the previous year[22] - Other income, gains, and losses for the year ended June 30, 2024, amounted to a net income of approximately HKD 39.1 million, compared to a net loss of approximately HKD 7.2 million for the year ended June 30, 2023[36] Assets and Liabilities - The total assets decreased to HKD 59,395,000 from HKD 13,539,000 in the previous year, indicating a significant change in the asset structure[4] - The company reported total liabilities of HKD 37,829,000, down from HKD 141,064,000 in the previous year, reflecting improved financial health[4] - The company has a total equity of HKD 59,395,000, compared to HKD 13,497,000 in the previous year, indicating a strong recovery in shareholder equity[5] - The total trade receivables as of June 30, 2024, amounted to HKD 5,655,000, a decrease from HKD 35,359,000 in the previous year, with an estimated allowance for doubtful debts of HKD 2,091,000[24] - Trade payables as of June 30, 2024, were reported at HKD 6,577,000, a significant decrease from HKD 44,899,000 in the previous year[26] - The group's total debt to equity ratio was approximately 3.1% as of June 30, 2024, compared to 34.7% as of June 30, 2023[40] Cash Flow and Financing - The group has a net cash balance of approximately HKD 54,730,000 as of June 30, 2024[7] - The total bank balance and cash amount to approximately HKD 4,146,000[7] - The group has outstanding loans from shareholders and directors totaling approximately HKD 7,108,000[8] - The company plans to extend the repayment of certain loans until the financial situation allows[8] - The group is expected to generate sufficient cash flow to meet its future operational and financing needs[8] - The company has a cash balance of approximately HKD 4,146,000 as of June 30, 2024, alongside significant loans from shareholders and directors[30] Business Strategy and Operations - The company plans to expand its market presence and invest in new technologies to drive future growth[2] - The company is focusing on the development of a Web3 e-commerce SaaS system to become a leading service provider in the Web3 space[35] - The company is expanding its operations into the North American cloud computing platform and blockchain hardware wallet systems[35] - The company is leveraging AI to enhance the conversion rates of its internet advertising services[33] - The company has undergone a review of its operational cash flow forecasts for at least the next twelve months[8] Corporate Governance and Compliance - The company has confirmed compliance with GEM listing rules and corporate governance standards as of June 30, 2024[58] - The Audit Committee, consisting of independent non-executive directors, has reviewed the financial statements for the year ending June 30, 2024[59] - The company has established a set of conduct rules for directors regarding securities trading, ensuring compliance with GEM listing standards[56] - The company has maintained effective communication with shareholders during the annual general meeting held in 2023[58] - The company has adhered to the corporate governance code as outlined in the GEM listing rules, with some deviations explained[58] Share Capital and Issuance - The issued and fully paid share capital increased to 6,872,000,000 shares as of June 30, 2024, from 5,080,000,000 shares in the previous year, following a share subscription agreement[27] - The company issued 77,600,000 new shares at a subscription price of HKD 0.12 per share, raising approximately HKD 9,312,000 before expenses[28] - A subsequent issuance of 101,600,000 new shares at a subscription price of HKD 0.125 per share is expected to raise approximately HKD 12,700,000 before expenses[28] - The net proceeds from the share issuance are estimated to be around HKD 12.6 million, which will be used for future business development, debt repayment, and general working capital[44] Employee and Operational Efficiency - The total employee cost for the year ending June 30, 2024, was approximately HKD 2 million, a decrease from HKD 5 million for the previous year[49] - The company had 14 employees as of June 30, 2024, down from 22 employees the previous year[49] - Administrative expenses decreased by approximately 54.5% to about HKD 8.1 million for the year ended June 30, 2024, from HKD 17.8 million for the year ended June 30, 2023, mainly due to reduced depreciation and streamlined personnel costs[38] - Selling and distribution expenses for the year ended June 30, 2024, were approximately HKD 0.9 million, down from HKD 1.1 million for the year ended June 30, 2023, primarily due to reduced costs after the digital empowerment of the platform business[37] Risk Management - The company continues to evaluate major risks and uncertainties to implement appropriate risk management measures[46] Leadership Changes - The company has appointed Mr. Zeng Jin as the Executive Director and Chairman of the Board effective from June 4, 2024[53] - The company has appointed Ms. Liu Qin as the Executive Director effective from June 4, 2024[53] Name Change - The company changed its name from "Million Stars Holdings Limited" to "Web3 Meta Limited" effective September 12, 2024[51]

Financial Performance - Revenue for the six months ended December 31, 2023, was HK$99,003,000, a significant increase from HK$6,894,000 in the same period of 2022, representing a growth of approximately 1,356%[9] - Gross loss for the period was HK$24,932,000, compared to a gross loss of HK$165,000 in the prior year, indicating a substantial increase in losses[9] - Profit before tax for the six months ended December 31, 2023, was HK$1,999,000, a turnaround from a loss of HK$14,200,000 in the same period of 2022[9] - Profit attributable to owners of the Company for the period was HK$1,828,000, compared to a loss of HK$14,201,000 in the previous year, marking a significant improvement[9] - Total comprehensive income attributable to owners for the year was HK$5,805,000, compared to a total comprehensive loss of HK$13,471,000 in the prior year[10] - Basic and diluted earnings per share for the six months ended December 31, 2023, was HK$0.01, compared to a loss per share of HK$0.03 in the same period of 2022[10] - The Group reported a net gain of approximately HK$1,828,000 for the year ended December 31, 2023[31] - The Group recorded a profit of approximately HK$1.8 million for the six months ended December 31, 2023, compared to a loss of approximately HK$14.2 million for the same period in 2022[127] Revenue Breakdown - For the six months ended December 31, 2023, revenue from internet advertising agency services was HK$98,805,000, a significant increase from HK$5,122,000 in the same period of 2022, representing a growth of approximately 1,829%[54] - Revenue from the digitalization empowerment platform business was HK$198,000, down from HK$1,772,000 in the previous year, indicating a decline of about 89%[54] - Total revenue for the six months ended December 31, 2023, was HK$99,003,000, compared to HK$6,894,000 for the same period in 2022, reflecting an overall increase of approximately 1,356%[54] Cash Flow and Liquidity - The company reported a net cash outflow from operating activities of HK$7,526,000 for the six months ended December 31, 2023, an improvement from HK$15,392,000 in the same period of 2022[23] - Cash and cash equivalents at the end of the period increased to HK$7,101,000 from HK$3,736,000 year-over-year, indicating a growth of approximately 90%[23] - Current assets decreased to HK$132,432,000 as of December 31, 2023, down from HK$148,643,000 as of June 30, 2023, indicating a reduction in liquidity[13] - As of December 31, 2023, the Group's cash and bank balances totaled approximately HK$7.1 million, down from HK$30 million as of June 30, 2023[129] Assets and Liabilities - Trade receivables increased to HK$58,527,000 as of December 31, 2023, from HK$35,359,000 as of June 30, 2023, reflecting improved collection efforts[13] - As of December 31, 2023, current liabilities decreased to HK$105,889,000 from HK$135,825,000 as of June 30, 2023, representing a reduction of approximately 22%[15] - Net current assets increased significantly to HK$26,543,000 from HK$10,497,000, marking an increase of approximately 153%[15] - Total equity rose to HK$28,614,000 as of December 31, 2023, compared to HK$13,497,000 at the end of June 2023, reflecting a growth of approximately 112%[17] - The Group's outstanding interest-bearing borrowings as of December 31, 2023, amounted to HK$5.2 million, an increase from HK$4.7 million as of June 30, 2023[134] Operational Efficiency and Future Outlook - The Company continues to focus on enhancing its operational efficiency and exploring new market opportunities to drive future growth[7] - The Group's ability to continue as a going concern will depend on generating adequate financing and operating cash flows in the near future[43] - Significant uncertainties exist regarding the Group's ability to achieve its plans and measures for future financing and cash flow generation[40] - The directors believe that the Group will be able to finance its future working capital and repayment needs through equity financing and long-term debt financing[39] Share Capital and Financing Activities - Share capital increased to HK$5,856,000 as of December 31, 2023, from HK$5,080,000 at the end of June 2023, representing a growth of approximately 15%[17] - The company generated HK$9,436,000 from financing activities during the six months ended December 31, 2023, compared to no cash generated in the same period of 2022[23] - On November 15, 2023, the Company entered into subscription agreements to issue 77,600,000 shares at a subscription price of HK$0.12 per share, completed on December 29, 2023[144] - The gross proceeds from the issuance of shares are estimated to be HK$9,312,000, with net proceeds of approximately HK$9,112,000, intended for general working capital and future business development[145] Cost Management - The cost of sales amounted to approximately HK$123.9 million for the six months ended December 31, 2023, which increased by approximately 16.4 times compared to HK$7.1 million for the same period in 2022[111] - The sales cost for the six months ended December 31, 2023, was approximately HK$123.9 million, an increase of about 16.4 times compared to HK$7.1 million for the same period in 2022[115] - Administrative expenses decreased by approximately 80%, from HK$13.7 million for the six months ended December 31, 2022, to approximately HK$2.7 million for the same period in 2023[119] Employee and Workforce Information - Total staff costs for the six months ended December 31, 2023, were approximately HK$1.6 million, a decrease of approximately HK$2 million compared to HK$3.6 million for the same period in 2022[159] - The group had a workforce of 22 employees as of December 31, 2023, unchanged from June 30, 2023[159] Corporate Governance and Compliance - The Group's accounting policies remain consistent with those presented in the annual consolidated financial statements for the year ended June 30, 2023[42] - The directors are not aware of any competing business interests during the reporting period[195] - There were no significant capital commitments or contingent liabilities as of December 31, 2023[151][155] Market and Product Development - The Group successfully launched a new generation of "Million Stars Promotion Machine" in June 2023, which integrates cashier, sales, inventory, and marketing management functions[106] - The digitalization empowerment platform aims to tap into the advertising market in Mainland China, incorporating both online and offline functions[98] - The "Million Stars Promotion Machine" has been well received in the market since its launch, providing convenience for mobile payments[99] - The Group is committed to product development and business expansion, consolidating existing businesses while seeking new opportunities[106]

Financial Performance - The company reported revenue of HKD 99,003,000 for the six months ending December 31, 2023, compared to HKD 6,894,000 for the same period in 2022, representing a significant increase[5]. - The cost of goods sold was HKD 123,935,000, resulting in a gross loss of HKD 24,932,000 for the current period, compared to a gross loss of HKD 165,000 in the previous year[5]. - The company recorded a net profit attributable to owners of HKD 1,828,000 for the six months ending December 31, 2023, compared to a net loss of HKD 14,201,000 for the same period in 2022[5]. - The total comprehensive income for the period was HKD 5,805,000, compared to a loss of HKD 13,471,000 in the previous year[7]. - The company reported an operating loss before tax of HKD 1,999,000, a significant improvement from a loss of HKD 14,200,000 in the same period last year[5]. - The basic and diluted earnings per share for the current period was HKD 0.01, compared to a loss per share of HKD 0.03 in the previous year[7]. - The company experienced a foreign exchange gain of HKD 3,977,000 during the period, compared to a gain of HKD 730,000 in the previous year[7]. Assets and Liabilities - Total assets as of December 31, 2023, amounted to HKD 132,432 million, compared to HKD 148,643 million in June 2023, reflecting a decrease of approximately 10.9%[9]. - Current liabilities were reported at HKD 105,889 million, down from HKD 135,825 million, indicating a reduction of about 22%[9]. - The net value of current assets stood at HKD 26,543 million, a significant increase from HKD 10,497 million, representing a growth of approximately 153%[9]. - The company reported a total equity of HKD 28,614 million, compared to HKD 13,497 million, showing an increase of around 112%[10]. - Non-current liabilities related to lease obligations were recorded at HKD 42 million, consistent with previous periods[10]. - The company’s cash and cash equivalents increased to HKD 7,091 million from HKD 4,708 million, marking a growth of approximately 50.7%[9]. - Trade receivables rose to HKD 58,527 million, up from HKD 35,359 million, indicating an increase of about 65%[9]. - The total liabilities decreased to HKD 105,889 million from HKD 141,064 million, reflecting a reduction of approximately 25%[9]. Operational Strategy - The company plans to focus on expanding its market presence and enhancing product offerings in the upcoming quarters[5]. - The company continues to focus on digital advertising and enabling platforms, aiming for market expansion and innovation in services offered[12]. - The company plans to raise additional funds through equity financing and long-term debt financing to support operational cash flow and repay existing debts[20]. - The company plans to continue expanding its strategic business units to cater to different product and service needs[26]. - The group aims to strengthen its existing business while seeking new opportunities in the rapidly recovering Chinese economy[56]. Governance and Compliance - The board of directors confirmed that the financial information presented is accurate and complete, with no material omissions[3]. - The company has adopted corporate governance standards in line with GEM listing rules as of December 31, 2023[90]. - The audit committee, consisting of independent non-executive directors, reviewed the financial statements for the six months ending December 31, 2023, ensuring compliance with accounting principles[97]. - The company plans to maintain effective communication with shareholders and stakeholders during the annual general meeting[93]. Financial Management - The board believes the group will have sufficient financial resources to meet its obligations and continue operations on a going concern basis[18]. - The effectiveness of the going concern basis is contingent on the group's future operational success and ability to generate sufficient cash flow[18]. - If the company cannot continue as a going concern, it may need to adjust asset values and reclassify non-current assets and liabilities[19]. - The financial statements have been prepared based on historical cost principles, consistent with previous reporting periods[21]. - The company has conducted a detailed review of its operational cash flow forecasts for at least the next twelve months[16]. Revenue Sources - The company's reported revenue from internet advertising agency services was HKD 99,003,000 for the year ending December 31, 2023[27]. - Revenue from digital industry enabling platform business was HKD 6,894,000 for the same period[27]. - The total income from other sources, including interest income from bank deposits, was HKD 29,846,000[30]. - The company recognized a reversal of impairment on trade and other receivables amounting to HKD 27,901,000[30]. Employee and Operational Costs - The total employee cost for the six months ended December 31, 2023, was approximately HKD 1.6 million, a decrease of HKD 2 million from HKD 3.6 million for the same period in 2022[83]. - The group maintained 22 employees as of December 31, 2023, unchanged from June 30, 2023[83]. - Selling and distribution expenses decreased to approximately HKD 0.2 million for the six months ended December 31, 2023, from HKD 0.4 million in the same period of 2022, primarily due to reduced advertising consultancy fees[61]. - Administrative expenses dropped approximately 80% to about HKD 2.7 million for the six months ended December 31, 2023, down from HKD 13.7 million in the previous year, mainly due to reduced depreciation and streamlined personnel costs[63]. Shareholder Information - The company does not recommend any dividend payment for the six months ended December 31, 2023, consistent with no dividends declared in 2022[36]. - The group does not recommend any interim dividend for the six months ending December 31, 2023, consistent with the previous year[48]. - Shareholders and directors have agreed to defer repayment of loans totaling approximately HKD 31,289,000, HKD 17,656,000, and HKD 162,000 until the company's financial situation allows[20].

Financial Performance - The Group reported revenue of HK$60,123,000 for the three months ended September 30, 2023, representing an increase from HK$45,000 in the same period of 2022[8]. - The cost of sales increased significantly to HK$66,956,000, leading to a gross loss of HK$6,833,000 compared to a gross profit of HK$21,000 in the prior year[8]. - Operating loss for the period was HK$10,426,000, compared to an operating loss of HK$6,888,000 in the same period last year[8]. - The loss attributable to owners of the Company for the period was HK$10,597,000, compared to a loss of HK$6,924,000 in the previous year[8]. - Total comprehensive loss for the period attributable to owners of the Company was HK$11,986,000, compared to a total comprehensive loss of HK$5,130,000 in the prior year[8]. - Basic loss per share was HK$2.09 for the current period, compared to HK$1.42 for the same period in 2022[8]. - For the three months ended September 30, 2023, the loss attributable to owners of the Company was HK$10,597,000, compared to a loss of HK$6,924,000 for the same period in 2022, representing an increase in loss of approximately 53.5%[35]. - For the three months ended September 30, 2023, the loss attributable to equity holders was approximately HK$10.6 million, an increase of 53.6% compared to a loss of HK$6.9 million for the same period in 2022[58][60][73]. Revenue Sources - Revenue for the period primarily derived from internet advertising agency services and digitalization empowerment platform business[21]. - The Group generated revenue of HK$60.1 million from internet business during the three months ended September 30, 2023, impacted by local government anti-pandemic policies and economic conditions[59][61]. - As of the end of September 2023, the internet advertising and game business generated operating revenue of approximately HK$60 million[45]. Expenses and Costs - The Group's administrative expenses decreased to HK$3,479,000 from HK$6,961,000 in the previous year, indicating a reduction in operational costs[8]. - Selling and distribution expenses increased to approximately HK$113,000 for the three months ended September 30, 2023, compared to HK$50,000 in the previous year, mainly due to marketing efforts for the promotion machine business[65][68]. - The cost of sales for the same period was HK$67 million, primarily related to the provision of internet services[63][66]. Financial Position - As of September 30, 2023, the total equity attributable to owners of the Company was HK$1,511,000, a decrease from HK$13,497,000 as of July 1, 2023[9]. - The Group's cash and bank balances as of September 30, 2023, totaled approximately HK$27.5 million, down from HK$30.8 million as of June 30, 2023, primarily due to outstanding receivables[80][83]. - Outstanding borrowings as of September 30, 2023, remained at HK$4.7 million, unchanged from June 30, 2023[81]. - As of September 30, 2023, the Group had no significant capital commitments or contingent liabilities, consistent with June 30, 2023[89][93]. Governance and Compliance - The audit committee has reviewed the unaudited consolidated results for the three months ended September 30, 2023, prior to recommending them to the board for approval[115]. - The consolidated results for the three months ended September 30, 2023, have not been audited by the auditors of the company[115]. - The audit committee comprises independent non-executive directors, ensuring compliance with GEM Listing Rules[114]. - All directors confirmed compliance with the required standards set out in the Model Code and the Code of Conduct during the three months ended September 30, 2023[109]. - The company has adopted a code of conduct for securities transactions that meets or exceeds the required standards[108]. - The company continues to maintain a strong governance structure with an independent audit committee[114]. Business Development - The Group has invested in the research and development of a digitalization empowerment platform, which includes the "Million Stars Promotion Machine," an intelligent advertising device with product vending capabilities[46]. - The "Million Stars Promotion Machine" has been well received in the market since its launch, providing convenience for customers with mobile payment options[47]. - In June 2023, the Group launched a new generation of the "Million Stars Promotion Machine," integrating cashier, sales, inventory, and marketing management functions, aimed at various merchandising stores[53]. - The Group's internet advertising and digitalization empowerment platform businesses are expected to continue developing steadily with the recovery of the Chinese economy[54]. - The Group is committed to product development and business expansion, consolidating existing businesses while seeking new opportunities[54]. Shareholder Information - The interests of substantial shareholders as of September 30, 2023, included 54 million shares (10.63%) held by 7Road Holdings Limited and 50 million shares (9.84%) held by Shanghai Hutong Investments Centre[101]. - The Company had 508 million shares issued as of September 30, 2023[97]. - Directors and chief executives held approximately 7.56% and 1.58% of the Company's shares, respectively, as of September 30, 2023[97]. - There were no known competing businesses or conflicts of interest involving the Directors or controlling shareholders as of September 30, 2023[103][104]. - There were no significant changes in shareholdings reported during the period[1]. Dividend and Earnings - The Board does not recommend the payment of a dividend for the three months ended September 30, 2023[36]. - No diluted earnings/(loss) per share were presented for the periods ended September 30, 2023, and September 30, 2022, as there were no potential ordinary shares in issue[37]. Risk Management - The Group's financial management strategy aims to minimize market risks, including foreign currency and interest rate risks, with no significant adverse effects reported during the period[85][87]. - The Group's treasury activities are centralized, with cash generally deposited in banks in Hong Kong and Mainland China[79][86]. - The Group's risk management policy aims to minimize the adverse impact of foreign currency and interest rate risks on financial performance, with negligible foreign exchange risk noted as of September 30, 2023[91]. - As of September 30, 2023, the Group had no pledged bank deposits securing bank financing[92].

Financial Performance - For the nine months ended March 31, 2023, the revenue was HK$30,307,000, a decrease of 32.6% compared to HK$45,071,000 for the same period in 2022[8]. - The gross profit for the nine months ended March 31, 2023, was HK$546,000, down from HK$3,688,000 in the previous year, representing a decline of 85.2%[8]. - The loss for the period attributable to owners of the Company was HK$20,791,000, compared to a loss of HK$42,623,000 for the same period in 2022, indicating an improvement of 51.2%[9]. - The total comprehensive expense for the period was HK$18,080,000, compared to HK$43,019,000 in the previous year, reflecting a reduction of 58.1%[9]. - The basic loss per share attributable to owners of the Company was HK$0.04 for the nine months ended March 31, 2023, compared to HK$0.09 for the same period in 2022[9]. - The loss from operations for the nine months ended March 31, 2023, was HK$19,418,000, an improvement from a loss of HK$42,509,000 in the previous year, representing a 54.3% reduction[8]. - The other income, gains and losses, net for the nine months ended March 31, 2023, was HK$146,000, compared to HK$2,661,000 in the previous year, a decrease of 94.5%[8]. - The company reported a loss of HK$32,871,000, compared to a loss of HK$20,791,000 for the same period in the previous year, indicating an increase in loss of approximately 58%[12]. - The total comprehensive expense for the period was HK$43,019,000, which includes a loss of HK$42,623,000 and other comprehensive expenses of HK$396,000[12]. - The company reported other comprehensive income of HK$2,711,000 for the period, which partially offset the losses incurred[12]. Revenue Breakdown - Revenue primarily comes from internet advertising agency services and digital assets business, although specific revenue figures were not disclosed in the provided content[26]. - Revenue from internet advertising agency services decreased to HK$3,815,000 for the nine months ended March 31, 2023, down 90.4% from HK$39,636,000 in the same period of 2022[29]. - Digitalization empowerment platform business revenue increased significantly to HK$26,492,000, compared to HK$5,435,000 in the previous year, representing a growth of 387.5%[29]. - Total revenue for the nine months ended March 31, 2023, was HK$30,307,000, a decrease of 32.8% from HK$45,071,000 in the same period of 2022[29]. Expenses and Costs - The administrative expenses for the nine months ended March 31, 2023, were HK$17,517,000, down from HK$29,378,000 in the previous year, a decrease of 40.4%[8]. - The finance costs for the nine months ended March 31, 2023, were HK$485,000, compared to HK$114,000 in the previous year, an increase of 326.3%[8]. - Selling and distribution expenses increased to approximately HK$1.0 million for the nine months ended March 31, 2023, compared to HK$0.3 million for the same period in 2022, primarily due to advertising promotions and equipment depreciation[76][80]. - The cost of sales amounted to approximately HK$30.8 million for the nine months ended March 31, 2023, a decrease of approximately 25.6% compared to the previous year[70]. - The gross profit margin for the nine months ended March 31, 2023, was approximately -1.8%, down approximately 10% from 8.2% for the same period in 2022[71]. Equity and Capital - As of 31 March 2023, the company's total equity stood at HK$34,672,000, a decrease from HK$52,752,000 as of 30 June 2022[12]. - The company issued shares amounting to HK$17,000,000 during the period, which contributed to the increase in share capital from HK$4,200,000 to HK$4,880,000[12]. - The company completed a share subscription of 20,000,000 shares at a subscription price of HK$0.15 per share, raising a total of HK$3,000,000[108]. - The proceeds from the subscription will be used for repayment of certain borrowings and general working capital, with HK$610,650 allocated for loan repayment and HK$1,221,300 for general working capital[117]. - The total amount utilized from the net proceeds as of March 31, 2023, was HK$1,873,000 out of HK$2,950,000 raised[117]. - The premium on the issue of shares amounted to approximately HK$1,000,000, credited to the company's share premium account[109]. - As of March 31, 2023, the company had 488,000,000 shares issued[136]. Shareholder Information - Zhu Yongjun holds 38,398,786 shares, representing 7.87% of the issued share capital[124]. - Lyu Xinyuan is a beneficial owner of 77,000,000 shares, accounting for 15.90% of the issued share capital[129]. - 7Road Holdings Limited owns 54,000,000 shares, which is approximately 11.07% of the issued share capital[129]. - Shanghai Hutong Investments Centre holds 50,000,000 shares, representing 10.25% of the issued share capital[129]. - BOC-HFT-BOC-Overseas No.1 QDII Segregated Account has 50,000,000 shares, also accounting for 10.25% of the issued share capital[132]. - Shanghai Angell Asset Management Company Limited has a controlled interest of 72,497,169 shares, which is 14.86% of the issued share capital[132]. Corporate Governance - Zhu Yongjun ceased to be the chairman and CEO of the company effective April 17, 2023[144]. - The Audit Committee has been established in accordance with the GEM Listing Rules, comprising independent non-executive Directors[146]. - The consolidated results for the nine months ended March 31, 2023, have not been audited by the Company's auditor[149]. - The quarterly results report was reviewed by the Audit Committee with management prior to Board approval[148]. Future Outlook and Strategy - The Group plans to ramp up investment in a global supercomputing center and expand its computing ecosystem to provide professional hosting and cloud services[66]. - The Group aims to serve more enterprises and government authorities through new advertising and sales services, including offline mobile advertising and smart advertising terminals[67]. - The Group's strategy includes expanding its digitalization empowerment platform to cover new business opportunities in mainland China[66]. - The Group's internet advertising agency services will continue to grow steadily, with a focus on expanding into the digital assets business[66]. Miscellaneous - The trading of the company's shares has been suspended since 4 October 2021, and this suspension continued as of 23 September 2022[16]. - The company has adopted new and revised Hong Kong Financial Reporting Standards for the first time in the current period, but this had no material impact on the financial positions and performance[25]. - The statutory reserve is maintained at a minimum of 25% of capital after usage, with a portion of profits transferred to this reserve as per PRC regulations[13]. - The Group did not have any material acquisitions or disposals during the nine months ended 31 March 2023[102]. - The Group has not entered into any interest rate hedging contracts due to relatively low current interest rates, but continues to monitor interest rate exposure closely[99]. - As of 31 March 2023, the Group did not have any significant capital commitments or contingent liabilities[101]. - During the nine months ended March 31, 2023, the company did not purchase, sell, or redeem any of its listed securities[141]. - There were no competing business interests disclosed by the directors during the nine months ended March 31, 2023[138].

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的內容 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，概不對 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的任何損 失承擔任何責任。 MILLION STARS HOLDINGS LIMITED 萬 星 控 股 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：8093） 截 至 二 零 二 三 年 三 月 三 十 一 日 止 九 個 月 第 三 季 度 業 績 公 告 香港聯合交易所有限公司（「聯交所」）GEM特色 GEM的地位，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買賣的證券可能會較於主 板買賣之證券承受較大的市場波動風險，同時無法保證在GEM買賣的證 券會有高流通量的市場。 本公告的資料乃遵照《聯交所GEM證券上市規則》（「GEM上市規則」）而刊載， 旨在提供有關萬星控股有限公司（「本公司」）的資料；本公司的董事（「董事」） ...

Financial Performance - Revenue for the six months ended December 31, 2022, was HK$6,894,000, a decrease of 84.7% compared to HK$45,050,000 for the same period in 2021[9]. - Gross profit for the six months ended December 31, 2022, was a loss of HK$165,000, compared to a gross profit of HK$3,669,000 for the same period in 2021[9]. - Loss for the period attributable to owners of the Company was HK$14,201,000 for the six months ended December 31, 2022, compared to a loss of HK$26,932,000 for the same period in 2021, representing a 47.3% improvement[10]. - Total comprehensive expense for the period was HK$13,471,000 for the six months ended December 31, 2022, compared to HK$26,653,000 for the same period in 2021[10]. - Basic loss per share attributable to owners of the Company was HK$0.03 for the six months ended December 31, 2022, compared to HK$0.06 for the same period in 2021[10]. - The company reported a loss for the period of HK$14,201,000 for the six months ended December 31, 2022, compared to a loss of HK$26,932,000 for the same period in the previous year, showing an improvement of approximately 47.4%[17]. - The Group's revenue for the six months ended December 31, 2022, was approximately HK$6.9 million, representing a decrease of approximately 84.7% compared to HK$45.0 million for the same period in the previous year[114][117]. - The Group's loss attributable to equity holders for the six months ended December 31, 2022, amounted to approximately HK$14.2 million, a decrease of approximately 47.3% compared to the same period last year[115]. - The cost of sales for the six months ended December 31, 2022, was approximately HK$7.1 million, down approximately 82.3% from the previous year[122][127]. - The gross profit margin for the six months ended December 31, 2022, was approximately -2.4%, a decline of approximately 10.5% compared to 8.1% for the same period in 2021[123]. Assets and Liabilities - Non-current assets increased to HK$12,132,000 as of December 31, 2022, from HK$5,209,000 as of June 30, 2022[13]. - Current liabilities increased to HK$48,075,000 as of December 31, 2022, compared to HK$30,006,000 as of June 30, 2022[13]. - Net current assets decreased to HK$42,004,000 as of December 31, 2022, from HK$61,488,000 as of June 30, 2022[13]. - As of December 31, 2022, the company's net assets decreased to HK$39,281,000 from HK$52,752,000 as of June 30, 2022, representing a decline of approximately 25.4%[14]. - Total non-current liabilities increased to HK$14,855,000 as of December 31, 2022, compared to HK$13,945,000 as of June 30, 2022, indicating a rise of about 6.5%[14]. - Cash and cash equivalents at the end of the period decreased to HK$3,736,000 from HK$6,949,000 as of December 31, 2021, reflecting a decline of about 46.3%[19]. - The Group's outstanding borrowings amounted to HK$20.8 million as of December 31, 2022, down from HK$23.1 million as of June 30, 2022, with a total debt to equity ratio of approximately 52.9%[142]. - Interest-bearing borrowings amounted to HK$20,780,000, a decrease from HK$23,094,000 as of June 30, 2022, representing a reduction of approximately 10.0%[72]. - The borrowings are repayable within one year amounting to HK$6,040,000, down from HK$9,326,000, indicating a decrease of about 35.0%[72]. Revenue Breakdown - Revenue from internet advertising agency services was HK$5,122,000, down 87.1% from HK$39,636,000 in the previous year[34]. - Revenue from the digitalization empowerment platform business was HK$1,772,000, which is a new segment introduced this period[34]. - Revenue from external customers in Mainland China (excluding Hong Kong) was HK$6,894,000, significantly up from HK$250,000 in the same period last year[39]. - The Group's revenue from overseas internet advertising significantly declined due to the impacts of the COVID-19 pandemic and changes in digital asset policies, resulting in no revenue recorded from the digital assets business[109]. Operational Highlights - The digitalization empowerment platform business has started generating stable operating income since November 2022, indicating a growing trend[110][112]. - The Group anticipates that the online and offline advertising channels in mainland China will begin to generate sustainable income starting from the third quarter[111]. - The "Million Stars Promotion Machine," an intelligent advertising device with a product vending function, was launched and has been well received in the market since its introduction[99]. - The "Million Stars Promotion Machine" will expand its product offerings beyond fresh fruits and vegetables to include snacks and beverages, aiming to increase consumer convenience and generate sustainable income[110][112]. - The Group plans to continue ramping up investment in the construction of a global supercomputing center and build a computing ecosystem to provide professional hosting of supercomputing servers and cloud computing services[106]. - The Group's business focus has gradually expanded from internet advertising agency services to the field of digital assets business since the second half of 2021, indicating a strategic shift in operations[106]. - The Group will continue to invest in the procurement of cryptocurrency servers and expand the global trading and channeling of supercomputing servers[106]. Staff and Management - Total staff costs for the six months ended 31 December 2022 were HK$3,591,000, a decrease of 12.4% from HK$4,102,000 in the same period of 2021[48]. - The Group maintained a workforce of 26 employees as of December 31, 2022, down from 28 employees as of June 30, 2022[157]. - The remuneration for directors during the six months ended December 31, 2022, was HK$570,000, a decrease of 33.2% from HK$854,000 in the same period of 2021[78]. - The Group did not experience any significant difficulties in recruiting and retaining qualified staff during the review period[166]. - The Group's financial management policy includes centralized treasury activities to achieve better cost control and minimize funding costs[140]. Corporate Governance - The company has adopted a code of conduct for securities transactions that meets the standards set out in the GEM Listing Rules[4]. - All directors, except Mr. Gan Xiaohua, confirmed compliance with the required standards of the Model Code during the six months ended December 31, 2022[5]. - The company was in compliance with the Corporate Governance Code during the six months ended December 31, 2022, with some disclosed deviations[6]. - The board did not hold four meetings during the year due to delays in the publication of the annual report for the year ended June 30, 2021[7]. - The company dealt with certain matters through Board Resolutions instead of physical Board Meetings during the year[7]. - Mr. Gan Xiaohua made an on-market acquisition of 5,000 shares at an aggregate consideration of HK$3,000 on September 28, 2022, during a blackout period[8]. - The new Corporate Governance Code will apply to the company's corporate governance report for the financial year commencing on January 1, 2022[9]. - Management is required to provide monthly updates to the Board, ensuring a balanced assessment of the company's performance and prospects to facilitate effective governance[199].