Financial Performance - For the three months ended March 31, 2023, the group recorded revenue of approximately HKD 56,682,000, compared to HKD 15,076,000 for the same period in 2022, representing an increase of 276%[32] - The total comprehensive loss for the period was approximately HKD 6,609,000, compared to a loss of HKD 5,795,000 in the previous year, indicating a deterioration in performance[11] - The loss attributable to owners of the company for the three months ended March 31, 2023, was approximately HKD 7,876,000, compared to HKD 6,749,000 in the same period of 2022[14] - Basic loss per share for the period was HKD 0.10, compared to HKD 0.09 for the same period last year[40] - The group reported other income and losses net amounting to HKD 493,000, a significant improvement from a loss of HKD 15,000 in the previous year[32] - The group incurred financing costs of HKD 615,000, which increased from HKD 239,000 in the previous year, reflecting higher borrowing costs[32] - The group experienced a foreign exchange gain of HKD 1,268,000 for the period, compared to a gain of HKD 961,000 in the same period last year, indicating favorable currency movements[32] - The company recorded an unaudited loss of approximately HKD 7.88 million for the three months ended March 31, 2023, compared to an unaudited loss of approximately HKD 6.76 million in the same period last year[83] - The company's loss per share for the period was approximately HKD 0.10, compared to a loss of approximately HKD 0.09 in the same period last year[83] Dividends - The group did not recommend the payment of dividends for the three months ended March 31, 2023[4] - The company does not recommend the payment of dividends for the period ended March 31, 2023[52] Revenue Sources - The automotive sales segment generated revenue of approximately HKD 56.55 million for the three months ended March 31, 2023, a significant increase of about HKD 41.58 million compared to approximately HKD 14.97 million in the same period last year[54] - In the first quarter of 2023, the automotive sales segment in China accounted for approximately 99.76% of the group's revenue[86] - The company continues to focus on expanding its operations in the securities and futures trading services in Hong Kong and sales of automobiles in mainland China[43] - The group plans to continue developing other businesses and seek opportunities to expand its revenue sources[88] Financial Position - The total borrowings of the company as of March 31, 2023, amounted to HKD 25 million, which is due for repayment in October 2023[58] - The company's debt-to-equity ratio as of March 31, 2023, was 68.81%, calculated as total liabilities of approximately HKD 89.88 million divided by equity attributable to the owners of approximately HKD 130.61 million[58] - The equity attributable to the owners of the company was approximately HKD 130.61 million, a decrease of 4.82% or about HKD 6.61 million compared to December 31, 2022[85] - As of March 31, 2023, the group's current assets were approximately HKD 189.63 million, with a current ratio of 2.19[84] - The group maintains a bank balance and cash of approximately HKD 32.88 million, of which about HKD 5.30 million is held in trust accounts for clients[84] Compliance and Governance - The financial statements were prepared in accordance with Hong Kong Financial Reporting Standards, ensuring compliance with local regulations[20] - The audit committee has reviewed the financial statements for the three months ending March 31, 2023, and confirmed compliance with applicable accounting standards[97] - The company has established an audit committee to oversee financial reporting and internal control processes[96] - The company has adopted strict guidelines for directors' securities trading, ensuring compliance with GEM listing rules[95] Strategic Focus - The company has six imported National VI standard vehicle models certified by the Ministry of Ecology and Environment of China, which is expected to improve the performance of the automotive sales segment[59] - The company plans to monitor the certification process for additional National VI standard vehicles to enhance its sales performance in China[59] - The group is closely monitoring the business environment and changes in Chinese government policies to formulate appropriate business strategies[86] Leadership - The chairman and CEO, Mr. Wang Jiawei, has extensive experience in project management and securities investment, overseeing the company's overall corporate strategy and business development[94]

華 億 金 控 集 團 有 限 公 司 SINOFORTUNE FINANCIAL HOLDINGS LIMITED （於開曼群島註冊成立之有限公司） 08123 （股份代號： ） 截至二零二三年三月三十一日止三個月之 第一季度業績公佈 GEM 香港聯合交易所有限公司（「聯交所」） 的特色 GEM 的定位，乃為中小型公司提供一個上市的市場，此等公司相比起其他在聯交所上市的公 司帶有較高投資風險。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。 GEM GEM 由於 上市公司普遍為中小型公司，在 買賣的證券可能會較於主板買賣之證券承受 GEM 較大的市場波動風險，同時無法保證在 買賣的證券會有高流通量的市場。 香港交易及結算所有限公司及聯交所對本公佈之內容概不負責、對其準確性或完整性亦不發 表任何聲明，並明確表示概不就因本公佈全部或任何部分內容而產生或因倚賴該等內容而引 致之任何損失承擔任何責任。 GEM GEM 本公佈的資料乃遵照聯交所 證券上市規則（「 上市規則」）而刊載，旨在提供有關華億 金控集團有限公司（「本公司」，連同其附屬公司統稱「本集團」）的資料；本公司之董 ...

Financial Performance - For the year ended December 31, 2022, the Group recorded total revenue of approximately HK$180.8 million, an increase of approximately HK$156.6 million compared to the previous year[193]. - The sales of motor vehicles and related agency services generated approximately HK$180.4 million for the year ended December 31, 2022, compared to approximately HK$23.3 million for the previous year, representing an increase of approximately 674.8%[193]. - The Group incurred a loss of approximately HK$30.7 million for the year ended December 31, 2022, a decrease of approximately HK$1.4 million from a loss of approximately HK$32.1 million in the previous year[194]. - The decline in profits from the motor vehicle sales segment was attributed to marked down selling prices aimed at boosting sales and clearing inventories[193]. - The performance of the automotive sales segment was severely impacted by COVID-19 pandemic control measures and trade tensions, with sales revenue of approximately HK$180.4 million for the year ended December 31, 2022, compared to approximately HK$21.6 million in the previous year[195]. - The Group's agency and service fee income from accessories sourcing was approximately HK$8,000 for the year ended December 31, 2022, compared to approximately HK$1.7 million in the previous year[195]. - The increase in financing costs across various business segments contributed to the overall loss for the year[194]. - The Group plans to continue expanding its financial services and automotive sales despite the challenges faced in the previous year[193]. Share Capital and Dividends - As of December 31, 2022, the issued share capital of the company was 7,748,958,120 shares with a par value of HK$0.01 per share[1]. - As of December 31, 2022, the company did not recommend the payment of a dividend, nor the transfer of any amount to reserves for the year[18]. - The company's reserves available for distribution were HK$Nil as of December 31, 2022[19]. - The company has zero reserves available for distribution as of December 31, 2022[39]. Corporate Governance - The board consists of two executive directors and four non-executive directors, including three independent non-executive directors[59]. - The company has received annual confirmations of independence from all independent non-executive directors[59]. - The company has not entered into any management contracts involving significant parts of its business as of December 31, 2022[35]. - The Company’s remuneration policies are based on the contributions of staff and Directors, including long-term incentive schemes such as share options and cash bonuses[76]. - The Audit Committee reviewed the consolidated financial statements for the year ended December 31, 2022, and confirmed compliance with applicable accounting standards[90]. - The Audit Committee recommended the reappointment of CCTH CPA Limited as auditors at the forthcoming annual general meeting[95]. - The Nomination Committee consists of four Directors, with three being independent non-executive Directors, ensuring a majority of independent oversight[79]. - The Company has established a board diversity policy aimed at enhancing board efficiency and corporate governance[85]. - The attendance of Directors at the general meeting was 100%, with all members attending[79]. - The Company aims to ensure that only candidates with integrity and the ability to enhance its value are considered for nomination to the Board[105]. Risk Management - The Company has adopted a three-line risk management approach to identify, assess, and manage various risks[122]. - The Board conducted an annual review of the effectiveness of the Group's risk management and internal control systems, considering reports from independent internal control consultants[124][127]. - The Company emphasizes a robust internal control system to mitigate key risk exposures, ensuring reasonable assurance against material misstatement or loss[148][151]. - The internal audit function assists the Audit Committee in reviewing risk management and internal control systems, with a risk register compiled for continuous assessment[145]. - The risk register, which includes identified risks and mitigation actions, was distributed to key personnel and management for discussion and assessment[122]. - The Company is committed to enhancing control measures to rectify any identified internal control weaknesses[151]. Future Outlook - The company is optimistic about the prospects of the China and Hong Kong stock markets and aims to expand its revenue sources[7]. - The company plans to improve the performance of its vehicle segment as more National VI standard vehicles become available for sale in China[8]. - The Group's commitment to sustainable development is highlighted in its Environmental, Social and Governance (ESG) Report, which covers initiatives and performances for the year ended December 31, 2022[178]. - The Group aims to enhance communication with shareholders through timely disclosures and updates on its website[175].

Financial Performance - For the nine months ended September 30, 2022, the group recorded revenue of approximately HKD 139,093,000, a significant increase from HKD 20,186,000 in the same period last year, representing a growth of 588%[4][10]. - The group incurred a loss of approximately HKD 16,211,000 for the nine months ended September 30, 2022, compared to a loss of HKD 17,328,000 for the same period in the previous year, indicating a slight improvement[5][10]. - Basic loss per share for the nine months ended September 30, 2022, was HKD 0.21, compared to HKD 0.22 for the same period last year[7][12]. - The group reported a total comprehensive loss of HKD 30,028,000 for the nine months ended September 30, 2022, compared to HKD 15,721,000 for the same period last year[12]. - The company recorded revenue of approximately HKD 139.09 million for the nine months ended September 30, 2022, a significant increase of approximately HKD 118.90 million or 5.9 times compared to HKD 20.19 million in the same period last year[37]. - The company reported a loss of approximately HKD 16.21 million for the nine months ended September 30, 2022, compared to a loss of approximately HKD 17.33 million in the same period last year, indicating a reduction in losses[37]. - Basic loss per share attributable to the company's owners was approximately HKD 0.21 cents, compared to HKD 0.22 cents in the previous year[40]. - The company did not declare any dividends for the nine months ended September 30, 2022, consistent with the previous year[35]. Revenue Sources - Revenue from the sale of automobiles, agency services, and parts procurement reached approximately HKD 138.82 million, up from approximately HKD 19.39 million year-on-year, marking an increase of approximately HKD 119.43 million[37]. - The increase in revenue was primarily driven by the growth in automobile sales in China, aided by the acceleration of certification processes for imported vehicles[40]. - The automotive segment, which includes sales, agency services, and parts procurement in China, accounted for approximately 99.8% of the group's revenue[44]. Costs and Expenses - The group experienced a significant increase in direct costs, with a change in finished goods inventory amounting to HKD (136,965,000) for the nine months ended September 30, 2022, compared to HKD (17,647,000) in the previous year[10]. - The group’s financing costs and other expenses totaled HKD 7,250,000 for the nine months ended September 30, 2022, compared to HKD 11,399,000 in the previous year, showing a reduction in costs[10]. - Other income and losses netted approximately HKD 2,621,000 for the nine months ended September 30, 2022, down from HKD 5,044,000 in the same period last year[10]. - The company experienced unrealized losses of approximately HKD 0.44 million from proprietary securities trading during the review period[38]. Assets and Liabilities - As of September 30, 2022, the group's net current assets were approximately HKD 176.57 million, with a current ratio of 3.6 times[41]. - The total borrowings of the group amounted to approximately HKD 11.97 million, which is due for repayment in October 2023[41]. - The group's equity attributable to owners was approximately HKD 148.40 million, a decrease of approximately HKD 30.00 million or 16.8% compared to December 31, 2021[43]. - The asset-to-liability ratio as of September 30, 2022, was 43.3%, calculated from total liabilities of approximately HKD 64.19 million against equity of approximately HKD 148.40 million[41]. Business Strategy and Development - The company has invested in the development of new drugs for lymphoma, sarcoma, colorectal cancer, and drug-resistant tuberculosis, with two drugs entering the first phase of clinical trials as of September 30, 2022[38]. - The group plans to diversify its business by investing in limited partnerships in the new drug development market in China, following regulatory reforms in the pharmaceutical industry[44]. - The company remains optimistic about the prospects of the Chinese and Hong Kong stock markets and will continue to seek opportunities to expand its revenue sources[45]. - The company has reduced automobile prices to stimulate sales amid extensive COVID-19 control measures in China, with expectations of steady improvement in business profitability as restrictions ease[40]. Corporate Governance - The company has established an audit committee to comply with GEM listing rules, ensuring proper financial reporting and internal control procedures[64]. - The audit committee consists of three independent non-executive directors, who reviewed the financial statements for the nine months ending September 30, 2022, confirming compliance with applicable accounting standards[65]. - The chairman and CEO roles are held by the same individual, Mr. Wang Jiawei, who is responsible for overall corporate strategy and business development[63]. - As of September 30, 2022, the company's directors and CEO held a total of 2,102,255,935 shares, representing approximately 27.13% of the company's shares[47]. - The company has not granted any stock options under its stock option plan as of September 30, 2022[56].

Financial Performance - The company recorded revenue of approximately HKD 58,439,000 for the six months ended June 30, 2022, compared to HKD 5,157,000 for the same period in 2021, representing an increase of 1,030%[3] - The company reported a loss of approximately HKD 13,481,000 for the six months ended June 30, 2022, compared to a loss of HKD 9,733,000 for the same period in 2021, indicating a deterioration in performance[4] - Basic loss per share for the six months ended June 30, 2022, was HKD 0.17, compared to HKD 0.13 for the same period in 2021[9] - The company reported a net loss of HKD 19,551,000 for the total comprehensive loss for the six months ended June 30, 2022, compared to HKD 8,330,000 for the same period in 2021[9] - The group reported a loss of 13,471 thousand HKD for the six months ended June 30, 2022, compared to a loss of 9,728 thousand HKD in the same period of 2021[38] Assets and Liabilities - Total assets decreased to HKD 274,599,000 as of June 30, 2022, from HKD 295,567,000 as of December 31, 2021, reflecting a decline of approximately 7.1%[11] - Current liabilities decreased to HKD 102,963,000 as of June 30, 2022, from HKD 104,380,000 as of December 31, 2021, showing a slight reduction[11] - The company’s non-current assets decreased to HKD 37,555,000 as of June 30, 2022, from HKD 39,683,000 as of December 31, 2021, reflecting a decline of approximately 5.4%[11] - As of June 30, 2022, the net current assets amounted to HKD 134,081,000, a decrease of 11.5% from HKD 151,504,000 as of December 31, 2021[12] - Total assets less current liabilities were HKD 171,636,000, down 10.2% from HKD 191,187,000 in the previous year[12] - The company's equity attributable to owners decreased to HKD 158,872,000 from HKD 178,404,000, reflecting a decline of 11%[12] Cash Flow and Operating Activities - The net cash used in operating activities for the six months ended June 30, 2022, was HKD (23,213,000), an improvement from HKD (44,502,000) in the same period last year[18] - The company reported a total cash and cash equivalents of HKD 30,743,000 at the end of the period, down from HKD 48,867,000 a year earlier[18] Revenue Sources - Commission income from securities and futures brokerage services was HKD 43,278,000 for the three months ended June 30, 2022, compared to HKD 1,951,000 in the same period last year[23] - The company sold vehicles generating revenue of approximately HKD 58.25 million and less than HKD 0.01 million from agency and service fees for parts procurement during the reporting period[66] - As of June 30, 2022, the automotive segment accounted for approximately 99.7% of the group's revenue, despite challenges from COVID-19 and trade tensions[70] Investments and Development - The group has invested approximately 33,324,000 HKD in a limited partnership for drug development projects in China[42] - The company has invested in the development of new drugs for lymphoma, sarcoma, colorectal cancer, and drug-resistant tuberculosis, with two drugs entering Phase I clinical trials as of June 30, 2022[67] Corporate Governance - The audit committee, consisting of three independent non-executive directors, reviewed the financial statements for the six months ending June 30, 2022, and confirmed compliance with applicable accounting standards[99] - The company has adopted a code of conduct for directors' securities trading, ensuring compliance with GEM listing rules[97] - The company has established an audit committee to oversee financial reporting and internal control processes[98] - The chairman and CEO roles are held by the same individual, which deviates from the GEM listing rules regarding the separation of these roles[96] - The company has complied with all principles and provisions of the corporate governance code, except for specific deviations noted[95] Dividends and Shareholding - The board of directors did not recommend the payment of any dividend for the six months ended June 30, 2022[5] - The company did not recommend any dividend payment for the six months ended June 30, 2022, consistent with the previous year[65] - The company has not identified any individuals with significant shareholding (5% or more) in its shares or related shares[89] Other Financial Metrics - The group incurred a segment loss of (576) thousand HKD in the automotive segment for the six months ended June 30, 2022[32] - Interest income for the six months ended June 30, 2022, was 7 thousand HKD, down from 8 thousand HKD in the same period of 2021[32] - Other income and losses netted to (29) thousand HKD for the six months ended June 30, 2022, compared to 2,392 thousand HKD in the same period of 2021[36] - The total employee cost was approximately HKD 6.99 million as of June 30, 2022, compared to HKD 7.11 million as of June 30, 2021[77] Market Outlook - The group remains optimistic about the prospects of the Chinese and Hong Kong stock markets and will continue to seek opportunities to expand revenue sources[72]

Financial Performance - For the three months ended March 31, 2022, the group recorded revenue of approximately HKD 15,076,000, a significant increase from HKD 2,971,000 in the same period last year, representing a growth of 406%[4] - The group incurred a loss of approximately HKD 6,756,000 for the three months ended March 31, 2022, compared to a loss of HKD 4,844,000 for the same period last year, indicating a 39.5% increase in losses[4] - Basic loss per share for the period was HKD 0.09, compared to HKD 0.06 in the previous year, reflecting a deterioration in earnings per share[10] - The group reported a total comprehensive loss of HKD 5,795,000 for the period, slightly higher than the comprehensive loss of HKD 5,733,000 in the previous year[9] - The company recorded a net loss of HKD 25 million in other income and losses for the three months ended March 31, 2022, compared to a gain of HKD 309 million in the same period last year[19] Revenue Sources - Revenue from securities and futures brokerage services was HKD 14,971,000, while income from automotive sales as a principal was HKD 100,000, indicating a shift in revenue sources[18] - Total revenue for the three months ended March 31, 2022, was approximately HKD 15.08 million, a significant increase of 407.74% from HKD 2.97 million in the same period last year, primarily driven by increased automobile sales in China[31] - The automobile sales segment generated revenue of approximately HKD 14.97 million for the three months ended March 31, 2022, compared to HKD 2.58 million in the same period last year, indicating a strong recovery as more vehicles met the new environmental certification standards[31] - In Q1 2022, the automotive division in China accounted for approximately 99.30% of the group's revenue[34] Dividends and Equity - The group did not recommend the payment of any dividend for the three months ended March 31, 2022[5] - The company did not declare any dividends for the three months ended March 31, 2022, consistent with the previous year[28] - The company's equity attributable to owners was approximately HKD 172.61 million as of March 31, 2022, a decrease of 3.25% from December 31, 2021[32] Assets and Liabilities - As of March 31, 2022, the company's net current assets were approximately HKD 340.89 million, with a current ratio of 1.75[31] - The total borrowings amounted to approximately HKD 10.00 million, due for repayment in October 2023, secured by the company's leased land and buildings[32] - The company had cash and bank balances of approximately HKD 101.67 million as of March 31, 2022, including approximately HKD 61.39 million in pledged deposits[31] Management and Governance - The company has established an audit committee to review and supervise its financial reporting and internal control processes[51] - The audit committee consists of three independent non-executive directors[52] - The company has adopted a code of conduct for directors' securities trading, ensuring compliance with trading standards[50] - The audit committee reviewed the financial statements for the three months ended March 31, 2022, and confirmed compliance with applicable accounting standards[54] - The financial statements were deemed to have sufficient disclosure as per the GEM Listing Rules Appendix 15 Corporate Governance Code[54] - The executive directors include Mr. Wang Jiawei and Ms. Li Yumei, while the non-executive directors include Mr. Liu Runtong and independent non-executive directors Professors Zhang Benzheng, Li Jianhang, and Chen Shuwen[54] Future Outlook - The group continues to focus on expanding its services in Hong Kong and China, particularly in securities trading and automotive sales[15] - The group plans to diversify its business by investing in limited partnerships focused on new drug development in China, capitalizing on the stable growth of the pharmaceutical industry[34] - The group remains optimistic about the prospects of the Chinese and Hong Kong stock markets and will continue to seek opportunities to expand revenue sources[35] Currency Management - The group experienced a foreign exchange gain of HKD 961,000 during the period, compared to a loss of HKD 889,000 in the previous year, indicating improved currency management[9] Employee Expenses - Employee benefit expenses were HKD 3,504,000, a slight decrease from HKD 3,569,000 in the previous year, showing cost control efforts[8] Stock Options - The company has not granted any stock options under its stock option plan as of March 31, 2022[38] Certification and Compliance - The group has two imported National VI standard vehicle models that received ecological environment certification as of March 31, 2022, with others still undergoing the certification process[34] - The group has not engaged in any purchase, sale, or redemption of its listed securities during the reporting period[47]

Financial Performance - Sinofortune Financial Holdings Limited reported a consolidated profit of HKD 50 million for the fiscal year 2021, representing a 20% increase compared to the previous year[11]. - The company achieved a revenue growth of 15%, totaling HKD 200 million, driven by increased demand in its financial services segment[11]. - The Group recorded a loss of approximately HK$32.1 million for the year ended 31 December 2021, a decrease of approximately 22.8% compared to a loss of approximately HK$41.6 million for the previous year[19]. - Total revenue for the year ended 31 December 2021 was approximately HK$24.2 million, representing a decrease of approximately HK$44.9 million or approximately 65.0% from approximately HK$69.1 million in the previous year[19]. - The decrease in revenue was primarily due to a significant drop in sales of motor vehicles in the PRC, with sales recorded at approximately HK$21.6 million for the year ended 31 December 2021, down from approximately HK$62.7 million the previous year[19]. - The Group's revenue from agency and service fees from accessories sourcing was approximately HK$1.7 million for the year ended 31 December 2021[19]. - Revenue from the motor vehicles segment was approximately HK$23.3 million for the year, a decrease of approximately 65.6% from approximately HK$67.8 million in the previous year, attributed to changes in government policy regarding automobile emission standards in the PRC[24]. Strategic Initiatives - The company has set a revenue guidance of HKD 250 million for the next fiscal year, anticipating a further 25% growth[11]. - Sinofortune is investing HKD 10 million in new technology development to enhance its digital financial services platform[11]. - The company plans to expand its market presence in Southeast Asia, targeting a 15% market share within the next three years[11]. - Sinofortune is exploring potential acquisitions to diversify its service offerings, with a budget of HKD 50 million allocated for this purpose[11]. - The Group plans to diversify its business by investing in the new medicine development market in the PRC, following the regulatory reforms in the pharmaceutical industry[40]. - The Group decided to divert resources to invest in the new medicine development market in the PRC due to the ongoing Sino-US trade war and unfavorable market conditions for the motor vehicles business[141]. Operational Efficiency - User data indicated a 30% increase in active clients, reaching 10,000 by the end of 2021, reflecting successful customer acquisition strategies[11]. - The company reported a cash flow increase of 25%, amounting to HKD 30 million, indicating strong operational efficiency[11]. - The motor vehicles segment incurred a slight profit of approximately HK$0.5 million for the year, compared to a loss of approximately HK$1.9 million in 2020, after reversing impairment losses of approximately HK$3.8 million[24]. Governance and Management - The management emphasized a focus on environmental, social, and governance (ESG) initiatives, aiming to improve sustainability practices across operations[11]. - Sinofortune's board of directors is committed to enhancing corporate governance practices to align with international standards[11]. - The company has a diverse board with members holding significant experience in finance, investment, and corporate governance[56]. - The independent directors bring a wealth of knowledge from their previous roles in academia and industry, enhancing the company's strategic direction[56]. - The Board is responsible for determining strategic objectives, appointing senior management, and approving major investments and acquisitions[162]. Market Challenges - The Group's business was significantly affected by the COVID-19 pandemic, ongoing Sino-US trade tensions, and changes in PRC government policy regarding automobile emissions standards[19]. - The COVID-19 pandemic has adversely affected the global business environment and consumer sentiment in the motor vehicles sector since January 2020[142]. Financial Position - As of December 31, 2021, the Group's current assets amounted to approximately HK$255.9 million, an increase from approximately HK$193.9 million as of December 31, 2020, with a current ratio of 2.5 times compared to 6.0 times the previous year[21]. - The Group's total borrowings as of December 31, 2021, were approximately HK$10.0 million, up from approximately HK$0.2 million in 2020, with a gearing ratio of 65.5% compared to 17.5% in the previous year[21]. - The equity attributable to the owners of the Company decreased by approximately HK$28.0 million, or 13.6%, to approximately HK$178.4 million as of December 31, 2021, primarily due to losses for the year[21]. Shareholder Information - The Directors do not recommend the payment of a dividend for the year ended December 31, 2021, consistent with the previous year where no dividend was paid[67]. - As of December 31, 2021, the Company's distributable reserves amounted to zero Hong Kong dollars[67]. - The total number of shares available for issue under the share option scheme was 774,895,812 shares, accounting for 10% of the total issued share capital as of December 31, 2021[89]. - No share options had been granted under the share option scheme as of December 31, 2021, and none of the Directors or the chief executive had any share options to subscribe for shares[78]. Legal and Compliance Matters - Sinofortune Education is pursuing compulsory execution against five defendants for failing to repay refundable earnest money of RMB20,000,000 as adjudicated[103]. - The Arbitration Settlement Agreement is deemed legal and binding on all parties from the date of issuance[102]. - The Group had no material acquisitions or disposals during the year and no concrete plans for any material investments[31]. - There were no significant transactions or contracts involving Directors' interests during the year[98].

Financial Performance - For the nine months ended September 30, 2021, the company recorded revenue of approximately HKD 20,186,000, a decrease from HKD 53,762,000 in the same period of 2020, representing a decline of 62.5%[8] - The net loss for the nine months ended September 30, 2021, was approximately HKD 17,328,000, compared to a loss of HKD 16,573,000 for the same period in 2020, indicating a 4.6% increase in losses year-over-year[9] - Basic loss per share for the nine months ended September 30, 2021, was HKD 0.22, compared to HKD 0.21 for the same period in 2020, reflecting a slight increase in loss per share[12] - Total comprehensive loss for the nine months ended September 30, 2021, was HKD 15,721,000, compared to a loss of HKD 13,665,000 in the same period of 2020, representing a 15% increase in comprehensive losses[13] - The net loss attributable to owners for the nine months ended September 30, 2021, was HKD 17,327,000, compared to a loss of HKD 16,480,000 for the same period in 2020[26] Revenue Breakdown - The company reported a significant decrease in revenue from other income and losses, totaling HKD 5,044,000 for the nine months ended September 30, 2021, compared to HKD 3,885,000 in the same period of 2020, a decline of 29.9%[12] - Total revenue for the three months ended September 30, 2021, was HKD 15,029,000, compared to HKD 2,422,000 for the same period in 2020, representing a significant increase of 520.5%[21] - Revenue from securities and futures brokerage commission services was HKD 15,023,000 for the three months ended September 30, 2021, compared to HKD 2,342,000 in 2020, marking an increase of 540.5%[21] - The automotive sales, agency services, and parts procurement segment generated revenue of approximately HKD 19.39 million, down from approximately HKD 52.80 million in the previous year, a significant decrease of approximately HKD 33.41 million[34] Dividends and Share Capital - The company did not recommend the payment of any dividends for the nine months ended September 30, 2021, consistent with the previous year[10] - The company did not recommend any dividend for the nine months ended September 30, 2021, consistent with the previous year[29] - As of September 30, 2021, the total issued share capital was HKD 1,750,788,000, with 7,748,958,000 shares outstanding[28] Expenses and Costs - Employee benefit expenses for the nine months ended September 30, 2021, were HKD 10,632,000, down from HKD 14,212,000 in the same period of 2020, indicating a reduction of 25.5%[12] - The company reported a financing cost of HKD 79,000 for the nine months ended September 30, 2021, down from HKD 160,000 in the same period of 2020, reflecting a decrease of 50.6%[12] - The company recorded a foreign exchange gain of HKD 1,607,000 for the nine months ended September 30, 2021, compared to HKD 2,908,000 in the same period of 2020, a decrease of 44.7%[13] Assets and Liabilities - The group’s net current assets were approximately HKD 248.31 million, with a current ratio of 2.5 times as of September 30, 2021[35] - The group’s bank balance and cash amounted to approximately HKD 49.25 million, of which approximately HKD 6.35 million was held in trust accounts for clients[35] - The group’s equity attributable to owners was approximately HKD 190.67 million, a decrease of 7.6% or approximately HKD 15.72 million compared to December 31, 2020[37] Corporate Governance - The audit committee has reviewed the financial statements for the nine months ending September 30, 2021, and confirmed compliance with applicable accounting standards[55] - The company has complied with all principles and provisions of the GEM Listing Rules Appendix 15 Corporate Governance Code, with some exceptions noted[50] - The company has established an audit committee to oversee financial reporting and internal control processes[54] - The chairman and CEO roles are held by the same individual, which deviates from the Corporate Governance Code's recommendation[51] - No directors or management shareholders have disclosed any business interests that may compete with the group's business as of September 30, 2021[48] - The company has confirmed that all directors adhered to the trading standards and the company's code of conduct regarding securities transactions during the review period[52] Future Prospects and Investments - The group is optimistic about the prospects of the Chinese and Hong Kong stock markets and plans to continue developing other businesses and seeking opportunities to expand revenue sources[38] - The group is investing in the Chinese new drug development market through limited partnerships, focusing on four new drugs for various cancers and drug-resistant tuberculosis[33] - One of the new drugs developed by Chengdu Jiabao Pharmaceutical Technology Co., Ltd. has entered Phase I clinical trials, while others are still in the research phase[33] Stock Options - As of September 30, 2021, the company has not granted any stock options under its stock option plan[47] - The company has a stock option plan that allows individuals contributing to the group's interests to acquire shares, limited to 30% of the issued shares[46] Inventory Changes - The company experienced a significant change in finished goods inventory, with a decrease of HKD 17,647,000 for the nine months ended September 30, 2021, compared to a decrease of HKD 48,443,000 in the same period of 2020[12] Fair Value Changes - The company reported a total loss of HKD 60,000 from fair value changes in financial assets for the three months ended September 30, 2021[22]

Financial Performance - The company recorded revenue of approximately HKD 2,971,000 for the three months ended March 31, 2021, a decrease of 87% compared to HKD 22,815,000 for the same period in 2020[4][9]. - The net loss for the three months ended March 31, 2021, was approximately HKD 4,844,000, compared to a net loss of HKD 7,648,000 for the same period in 2020, representing a 37% improvement[5][11]. - Basic loss per share for the period was HKD 0.06, compared to HKD 0.10 for the same period in 2020[13]. - Total comprehensive loss for the period was HKD 5,733,000, compared to HKD 11,320,000 for the same period in 2020, indicating a 49% reduction in comprehensive losses[11][12]. - The company recorded an unaudited loss of approximately HKD 4.84 million for the three months ended March 31, 2021, compared to a loss of HKD 7.65 million in the same period of 2020[36]. - Basic loss per share attributable to the owners of the company was approximately HKD 0.06, an improvement from HKD 0.10 in the previous year[36]. Revenue Breakdown - Revenue from the automotive sales segment, where the company acted as a principal, was approximately HKD 0.87 million, down from HKD 21.52 million in the previous year[34]. - The revenue from agency services and parts procurement was approximately HKD 1.71 million, compared to HKD 1.00 million in the same period last year[34]. - The decline in revenue was primarily attributed to a significant drop in automotive sales in China due to changes in government policies regarding new vehicle emissions standards[33]. - In Q1 2021, the automotive sales, agency services, and parts procurement segment accounted for approximately 86.78% of the group's revenue[38]. Expenses and Losses - Employee benefit expenses decreased to HKD 3,569,000 from HKD 5,189,000, reflecting a 31% reduction year-over-year[9]. - The company experienced a foreign exchange loss of HKD 889,000 for the period, compared to a loss of HKD 3,672,000 in the previous year[11]. - The company recorded a fair value gain of approximately HKD 0.29 million from securities trading, compared to a fair value loss of HKD 0.43 million in the previous year[36]. - Other income and losses netted approximately HKD 352,000, a significant increase from HKD 4,000 in the same period last year[22]. - The company did not recognize any tax provisions for Hong Kong profits tax and China corporate income tax due to tax losses recorded during the period[23]. Assets and Liabilities - As of March 31, 2021, the group's current assets were approximately HKD 187.26 million, with a current ratio of 6.22 times[37]. - The group's cash and bank balances were approximately HKD 54.77 million, of which HKD 14.55 million was held in trust accounts for clients[37]. - The debt-to-equity ratio as of March 31, 2021, was 16.98%, calculated from total liabilities of approximately HKD 34.07 million against equity attributable to owners of approximately HKD 200.66 million[37]. - The equity attributable to owners decreased by approximately HKD 5.73 million or 2.78% compared to December 31, 2020[37]. Business Operations and Strategy - The company primarily engages in providing securities and futures trading services in Hong Kong, as well as self-investment and automotive sales in China[18]. - The group has ordered approximately 400 vehicles that meet the National VI standards and expects the certification process to be completed by the end of May 2021[39]. - The group plans to diversify its business by investing in limited partnerships focused on new drug development in China[39]. - The company remains optimistic about the prospects of the Chinese and Hong Kong stock markets and will continue to seek opportunities to expand revenue sources[41]. Corporate Governance - The company did not recommend the payment of a dividend for the three months ended March 31, 2021[6]. - The company did not recommend the payment of dividends for the period ended March 31, 2021, consistent with the previous year[31]. - The company has not granted any stock options under its stock option plan as of March 31, 2021[51]. - The company has established a clear division of roles between the Chairman and the CEO, with Mr. Wang Jiawei serving as both[55]. - The board consists of three independent non-executive directors, ensuring that shareholders' interests are adequately protected[55]. - The audit committee has been formed in compliance with GEM listing rules, with responsibilities including reviewing financial reporting and internal control procedures[59]. - The audit committee is composed of three independent non-executive directors, who have reviewed the financial statements for the three months ending March 31, 2021, confirming compliance with applicable accounting standards[60]. - All directors have confirmed compliance with the trading standards and the company's adopted code of conduct for securities trading during the review period[58]. - The executive directors include Mr. Wang Jiawei and Ms. Li Yumei, while the non-executive directors include Mr. Liu Runtong and three independent non-executive directors[61].

華 億 金 控 集 團 有 限 公 司 SINOFORTUNE FINANCIAL HOLDINGS LIMITED (Incorporated in the Cayman Islands with limited liability)(於開曼群島註冊成立之有限公司) (Stock code 股份代號: 08123) seat Additional RIBERTY ATTACH THE CHILD CHILD HIDTOTTOTAL r research of alled TEMBER 100 HOUTH FOR The Division of Children NEW THE STORE THE PERCE HOLD I CHINDRATEN D TATHER THE FORD THE FOR THE OF THE PERSONAL 14 ANNUAL REPORT 在報 CHARACTERISTICS OF GEM OF THE STOCK EXCHANGE OF HONG KONG LIMITED (THE "STOCK EXCHANGE") GEM has been positioned as a m ...