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].

Financial Performance - For the three months ended September 30, 2022, the Group reported revenue of HK$45,000, a decrease of 99.8% compared to HK$22,376,000 in the same period of 2021[10]. - The cost of sales for the same period was HK$24,000, resulting in a gross profit of HK$21,000, compared to a gross profit of HK$2,037,000 in the previous year[10]. - The Group incurred an operating loss of HK$6,888,000, a significant decline from the operating profit of HK$5,027,000 reported in the prior year[10]. - The loss before tax for the period was HK$6,924,000, compared to a profit before tax of HK$4,977,000 in the corresponding period of 2021[10]. - The profit attributable to owners of the Company for the period was a loss of HK$6,924,000, compared to a profit of HK$4,977,000 in the same period last year[10]. - Total comprehensive income attributable to owners of the Company for the period was a loss of HK$5,130,000, compared to a profit of HK$5,090,000 in the previous year[10]. - Basic earnings per share for the period was a loss of HK$1.42, compared to earnings of HK$1.06 per share in the same period of 2021[10]. - The Group recorded a loss of approximately HK$6.9 million for the three months ended 30 September 2022, compared to a profit of HK$4.98 million for the same period in 2021, indicating a significant decline in operating income[86][90]. Equity and Reserves - As of September 30, 2022, the total equity attributable to owners of the Company was HK$81,443,000, down from HK$86,573,000 as of July 1, 2022[11]. - 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[12]. Taxation - No provision for Hong Kong Profits Tax was made as the Group had no profits assessable to tax for both periods presented[32]. - PRC enterprise income tax was not provided as the Group had no profit assessable to PRC EIT for both periods presented[33]. Income and Expenses - The Group recorded other income of HK$127,000 for the three months ended September 30, 2022, compared to HK$10,616,000 in the same period of 2021[26]. - The Group did not recognize any gain on the disposal of intangible assets for the three months ended September 30, 2022, compared to HK$1,962,000 in 2021[26]. - Selling and distribution expenses decreased to approximately HK$50,000 for the three months ended September 30, 2022, compared to HK$100,000 in 2021, due to reduced business income[78]. - Administrative expenses decreased from approximately HK$7.5 million for the three months ended September 30, 2021, to approximately HK$7.0 million for the same period in 2022, representing a decrease of approximately 6.7%[79]. Business Operations - Revenue for the period primarily derived from internet advertising agency services and digital assets business[23]. - The Group's revenue from overseas internet advertising fell significantly, with no revenue recorded from the digital assets business due to the impact of COVID-19 and changes in digital asset policies[60]. - Revenue generated from internet services during the same period was HK$45,000, significantly affected by local anti-pandemic policies and economic conditions[68]. - The cost of sales for the three months ended September 30, 2022, was HK$24,000, primarily related to internet services[69]. - The company expanded its overseas cryptocurrency business in the second half of 2021, leveraging its expertise in digital assets[44]. - The company launched a digitalization empowerment platform in March 2022 to provide personalized advertising and enhance customer loyalty[44]. - The "Million Stars Promotion Machine," an intelligent advertising device with a product vending function, was introduced to tap into the advertising market in mainland China[51]. - The digitalization empowerment system incorporates both online and offline functions, enhancing the company's service offerings[51]. - The company closely monitors cryptocurrency price movements to set competitive pricing strategies in the digital assets market[50]. - The Group plans to establish Million Stars Supercomputing Co., Ltd. in Hong Kong to operate the newly established digital assets business, leveraging favorable policies[65]. - The Group's digital asset business is expected to grow as a result of favorable policies introduced in Hong Kong[70]. - The Group will continue to seek new business opportunities and explore new revenue sources to enhance shareholder returns[66]. Financial Position - As of 30 September 2022, the Group's cash and bank balances totaled approximately HK$1.0 million, down from HK$19.5 million as of 30 June 2022, primarily due to initial investments in some projects[88][91]. - The Group's outstanding borrowings remained stable at HK$9.3 million as of 30 September 2022, with a debt-to-equity ratio of approximately 8.6%[93][98]. - The Group's subsidiaries in the Horgos Economic Development Zone benefit from a five-year exemption from enterprise income tax, with standard rates of 16.5% in Hong Kong and 25% in the PRC[85][89]. Corporate Governance - The audit committee reviewed the unaudited consolidated results for the three months ended September 30, 2022, prior to board approval[127]. - All directors, except Gan Xiaohua, confirmed compliance with the required standards set out in the Model Code during the reporting period[125]. - The company has adopted a code of conduct for securities transactions that meets the standards of the GEM Listing Rules[124]. - There were no known competing businesses or conflicts of interest involving directors or controlling shareholders during the reporting period[118]. - The consolidated performance for the three months ending September 30, 2022, has not yet been audited by the company's auditors[130]. - The report is presented by the Chairman and CEO, Zhu Yongjun, on November 11, 2022[130]. - The board includes executive directors Zhu Yongjun, Gan Xiaohua, and Tian Yuan, as well as independent non-executive directors Chen Ce, Jiang Ying, and Zhu Minli[130]. Shareholder Information - As of September 30, 2022, the company had 488,000,000 shares issued[117]. - Zhu Yongjun holds 38,398,786 shares, representing approximately 7.87% of the issued share capital[112]. - 7Road Holdings Limited is a substantial shareholder with 54,000,000 shares, accounting for 11.07% of the issued share capital[115]. - Shanghai Angell Asset Management holds 72,497,169 shares, which is about 14.86% of the issued share capital[115]. - Jiang Peijie owns 29,150,000 shares, representing 5.97% of the issued share capital[115]. - The company did not purchase, sell, or redeem any of its listed securities during the three months ended September 30, 2022[119].

Financial Performance - The company reported a revenue of HKD 46,774,000 for the year ended June 30, 2022, compared to HKD 209,261,000 for the previous year, representing a decrease of approximately 77.7%[6] - Gross profit for the year was HKD 1,821,000, down from HKD 15,788,000 in the previous year, indicating a decline of about 88.5%[6] - The company incurred a loss before tax of HKD 36,150,000, compared to a loss of HKD 43,863,000 in the previous year, showing an improvement of approximately 17.5%[8] - The net loss attributable to equity holders was HKD 36,150,000, compared to HKD 44,130,000 in the previous year, reflecting a reduction of about 18.1%[8] - The company reported a basic loss per share of HKD 7.49, an improvement from HKD 10.51 in the previous year[8] - Total comprehensive income for the year was HKD 3,466,000, compared to HKD 11,066,000 in the previous year, indicating a decrease of approximately 68.7%[8] - The company recognized impairment losses of HKD 7,963,000, compared to HKD 21,432,000 in the previous year, representing a decrease of about 62.8%[6] - The company reported a significant increase in cash and cash equivalents from HKD 1.45 billion in 2021 to HKD 19.92 billion in 2022, a growth of approximately 1275.6%[10] - The group reported a total revenue of approximately HKD 46.8 million for the period, a decline of about 77.7% compared to HKD 209.3 million for the same period last year[53] - The group recorded a net loss of approximately HKD 36 million for the year, compared to a loss of HKD 44.1 million in the previous year[60] Assets and Liabilities - The company's total liabilities decreased to HKD 114,000,000 from HKD 1,128,000,000 in the previous year, reflecting a significant reduction[8] - The company's total assets decreased from HKD 131.77 billion in 2021 to HKD 116.26 billion in 2022, representing a decline of approximately 11.8%[10] - The company's total liabilities decreased from HKD 44.12 billion in 2021 to HKD 28.36 billion in 2022, a reduction of approximately 35.6%[10] - The company has a total of HKD 4.32 billion in non-current assets as of June 30, 2022, compared to HKD 18.40 billion in the previous year, indicating a decrease of approximately 76.5%[10] - The estimated provision for uncollectible trade receivables increased to HKD 23,032,000 in 2022 from HKD 15,069,000 in 2021[31] - Trade payables were reported at HKD 7,907,000 for the year[32] Income and Expenses - The company reported other income of HKD 4,000,000, compared to HKD 2,311,000 in the previous year, indicating an increase of approximately 73.1%[6] - Interest income from bank deposits amounted to HKD 5 million, while interest income from loans receivable was HKD 1,834 million[23] - Total miscellaneous income was reported at HKD 1,067 million, contributing to overall revenue[23] - The company’s financial expenses included HKD 1,128 million in interest expenses related to borrowings[23] - The cost of sales for the group was approximately HKD 45 million, down about 76.8% from the previous year's cost of sales[54] - The gross profit margin for the period was approximately 3.9%, a decrease of 3.6% from the previous year's margin of 7.5%[54] - Administrative expenses were HKD 24,120,000, down from HKD 27,108,000 in the previous year, showing a reduction of approximately 10.9%[6] - Financial costs reduced significantly from HKD 1.1 million in the previous fiscal year to HKD 0.1 million[58] Shareholder Information - The company did not declare or recommend any dividends during the year, consistent with the previous year[27] - The company has no issued potential ordinary shares, thus no diluted loss per share is presented for the two years[28] - The company issued 68,000,000 shares at a subscription price of HKD 0.25 per share, raising a total of HKD 17,000,000[39] - The net proceeds from the share issuance are approximately HKD 16,955,000, intended for general working capital and future business development[39] - The company does not recommend any final dividend for the year ending June 30, 2022, maintaining the previous year's dividend at zero[43] Business Operations and Strategy - The company is focused on expanding its digital asset business and enhancing its mobile payment technology support services[13] - The group primarily engages in internet advertising agency services and digital asset business, expanding its overseas cryptocurrency operations in the second half of 2021[45] - The subsidiary, Wanxing Network, develops the overseas internet advertising market, providing global advertising services through platforms like Facebook and Google[46] - The company has a professional management team in the digital asset sector, focusing on cryptocurrency mining equipment and market supply-demand information[47] - The group plans to expand its internet advertising services and explore new digital asset business opportunities, including investments in global supercomputing centers[50][51] - The group aims to leverage opportunities in the overseas internet advertising market and digital transformation in rural China and new retail sectors[50] Compliance and Governance - The company has adopted corporate governance standards in compliance with GEM listing rules, effective from January 1, 2022[79] - As of June 30, 2022, the company confirmed compliance with the GEM listing rules and corporate governance standards[81] - The board of directors has established a set of conduct rules for securities trading, adhering to the standards set forth in GEM listing rules[78] - The company has not identified any conflicts of interest involving directors or major shareholders in competitive businesses[75] Audit and Reporting - The annual performance reported is based on preliminary assessments and has not yet received approval from the auditors, with the final audited results expected to be published by October 30, 2022[88] - The audit committee, consisting of independent non-executive directors, has reviewed the financial statements and accounting principles adopted by the company[84] - The company anticipates that the audit process will be completed by October 30, 2022, and will issue a separate announcement regarding any significant differences in the audited results compared to the unaudited figures[88] - The financial data presented in the announcement is unaudited and subject to adjustments[88] - The company plans to distribute the audited annual report, containing all required information under GEM listing rules, by November 30, 2022[89] Impact of COVID-19 - The company faced significant adverse impacts on its business activities and auditing work due to strict COVID-19 control measures implemented by the Chinese government, affecting operations until July 2022[85] - The ongoing COVID-19 pandemic has caused delays in obtaining confirmations from customers, suppliers, and banks, impacting the audit process[87] - The company has experienced restrictions on movement across various subsidiaries, significantly hindering business progress and audit coordination[85] - The audit process for assessing impairment of certain assets has not been completed due to the pandemic, involving significant management judgment and estimates[87] - The company’s financial team gradually resumed auditing work with Zhongzheng Tianheng starting in July 2022[85]

Financial Performance - The Group recorded revenue of approximately HK$209,261,000 for FY2021, representing a year-on-year decrease of approximately 51.8%[16] - The loss after tax for the Group was approximately HK$44,130,000 during the same period[16] - The decline in revenue was mainly due to the shrinking sales volume of internet advertising agency services offered by its wholly-owned subsidiary[16] - The Group recorded an operating income of approximately HK$209.3 million for the year ended June 30, 2021, representing a decrease of about 51.8% compared to HK$434.3 million for the year ended June 30, 2020[37] - The Group recorded a loss for the year of approximately HK$44.1 million for the year ended June 30, 2021, compared to a loss of HK$44.0 million for the previous year[50] Cost Management - The cost of sales for the year ended June 30, 2021, amounted to approximately HK$193.5 million, a decrease of about 54.6% compared to the previous year[38] - Selling and distribution expenses decreased from approximately HK$2.2 million in FY 2020 to HK$0.6 million in FY 2021, reflecting tight cost control measures[45] - Administrative expenses decreased from approximately HK$33.9 million for the year ended June 30, 2020, to approximately HK$27.1 million for the year ended June 30, 2021, representing a decrease of about 20%[46] - Finance costs decreased from HK$4.4 million in FY 2020 to HK$1.1 million in FY 2021, primarily due to the termination of lease contracts and full repayment of bank loans[48] Future Plans - The Group plans to adjust investments in the internet advertising business and seek new customers, businesses, and revenue streams[17] - Future plans include the development of an overseas cryptocurrency business to enhance returns for shareholders[17] - The Group plans to develop overseas cryptocurrency business to deliver better returns to shareholders in the future[28] - The Group aims to adjust investments in the internet advertising business to tap into new customers, businesses, and revenue streams[28] Financial Position - As of June 30, 2021, the Group's cash and bank balances totaled approximately HK$1.4 million, a decrease from HK$49.9 million as of June 30, 2020, primarily due to repayment of borrowings and purchases of property, plant, and equipment[59] - The Group's outstanding borrowings as of June 30, 2021, amounted to HK$10.2 million, down from HK$30.8 million as of June 30, 2020, with borrowings primarily denominated in HKD at fixed interest rates[60] - The total debt to equity ratio was approximately 7.7% as of June 30, 2021, a decrease from 18.7% as of June 30, 2020, indicating improved financial stability[61] - The Group has a capital commitment of HK$13.9 million as of June 30, 2021, related to the acquisition of property, plant, and equipment, compared to nil in the previous year[70] Risk Management - The Group's risk management policy aims to minimize adverse effects from market risks such as currency and interest rate risks[62] - The Group has not entered into any interest rate hedging contracts due to current low interest rates but continues to monitor its interest rate exposure closely[68] - The Group's foreign exchange exposure was minimal, with no significant adverse effects from changes in foreign exchange rates during the reporting periods[67] Auditor's Opinion - The independent auditor expressed a disclaimer of opinion on the Group's consolidated financial statements as of June 30, 2021, due to issues related to prior year transactions and intangible assets[81] - The disclaimer of opinion from the auditor relates solely to the items and disclosures in the Group's consolidated financial statements as of 30 June 2020[102] Intangible Assets - The Group entered into supplementary agreements for the termination and revision of prior year's acquisition of certain intangible assets for a total price of HK$7,151,000[87] - The Group completed disposals of remaining intangible assets for a total consideration of HK$31,554,000, recognizing a gain on disposal of HK$2,444,000 in profit and loss[87] - The carrying amount of the intangible assets at the date of sale agreements was HK$20,501,000, which was reclassified to "Assets classified as held-for-sale"[87] - The opening balance of intangible assets at 1 July 2020 was approximately HK$32,993,000, which may significantly impact the retained profits of the Group[88] - The Group disposed of its entire interest in Yidao Network for a total consideration of HK$32,962,000, with a carrying amount of HK$32,360,000 at the date of the sale agreement[98] - The exchange surplus relating to the Group's interest in Yidao Network amounted to approximately HK$3,074,000 recognized in profit or loss for the current year[101] - The Group's interest in intangible assets was fully disposed of and collected as of 30 September 2021[95] - Any necessary adjustments to the interest in Yidao Network may significantly affect the consolidated financial position and performance of the Group as at 30 June 2020[97] - The completion of industrial and commercial procedures for Yidao Network occurred on 16 September 2021, and it is no longer an associate of the Group[103] Employee Costs and Policies - The Group's total staff costs for FY 2021 were approximately HK$7.3 million, a decrease from HK$13.6 million in FY 2020, with a workforce of 48 employees as of June 30, 2021[121] - The Group's total employee cost for the fiscal year 2021 was approximately HK$7.3 million, a decrease from HK$13.6 million in the fiscal year 2020[126] - The Group's emolument policy for employees and directors is reviewed annually, considering individual responsibilities and performance[122] - The Group's employee compensation policy is reviewed annually by the remuneration committee, considering responsibilities, experience, and performance[126] - The Group's contributions to the Mandatory Provident Fund for employees in Hong Kong are 5% of their monthly income, with a maximum contribution of HK$1,500 monthly[125] - The Group is required to contribute to government retirement benefit schemes for employees in the PRC, calculated based on certain percentages of applicable payroll costs[127] - The Group has maintained a good working relationship with its employees, experiencing no significant labor disputes or difficulties in recruitment[128] - The Group's employee training programs focus on enhancing technical skills and safety awareness[126] Board and Management - Ms. Tian has extensive experience in foreign exchange trading, derivatives development, and investment fund management[147] - Ms. Tian is currently the general manager of Shanghai Angell Asset Management Company Limited and deputy general manager of Jilin Province Investment Group Company Limited[145] - Mr. Chen has been a senior investment manager at Haitong Capital Investment Co., Ltd. since August 2011, focusing on pre-investment research and post-investment management[151] - Ms. Zhu serves as the chairlady of the remuneration committee and nomination committee, with a background in risk management and financial auditing[155] - Ms. Jiang has extensive experience in corporate governance and compliance, previously working at Long Well International Holdings Limited[163] - Mr. Ren, appointed as vice president on July 28, 2021, has over 10 years of experience in senior corporate management and capital investment[165] - The company has a strong focus on investment management and risk control, as demonstrated by the roles of its independent directors[157] - The board includes members with qualifications such as certified public accountants and chartered governance professionals, enhancing its governance capabilities[162] - The management team has a diverse educational background, with degrees from prestigious universities such as UCLA and Fudan University[147] Customer and Supplier Concentration - The Group's total sales for FY2021 were entirely accounted for by its five largest customers, with the largest customer contributing 98.3%[186] - The Group's total purchases for FY2021 were also entirely from its five largest suppliers, with the largest supplier accounting for 95.4%[186] Dividends and Financial Health - The Board does not recommend any dividend payment for FY2021, consistent with FY2020 where no dividend was paid[171][179] - The movements in the Group's reserves during FY2021 are detailed in the consolidated financial statements, reflecting the financial health of the Company[181][190] - The Group's financial risk management objectives and policies are outlined in the consolidated financial statements, indicating a structured approach to managing financial risks[173][180] Governance and Compliance - The Group's environmental, social, and governance performance is discussed in a report published on December 30, 2021, highlighting compliance with relevant laws and regulations[174][180] - Significant related party transactions during the year are disclosed, ensuring transparency in the Group's financial dealings[188][193] Changes in Board Composition - The company has appointed new directors, including Mr. Gan Xiaohua on July 25, 2022, and has seen changes in the board with resignations and appointments[199] - Five directors, including Mr. Zhu Yongjun and Ms. Tian Yuan, will retire at the upcoming annual general meeting and are eligible for re-election[199]