Financial Performance - For the three months ended March 31, 2020, the company recorded revenue of approximately HKD 22,815,000, compared to HKD 8,972,000 for the same period in 2019, representing a year-over-year increase of 153%[4] - The company reported a loss of approximately HKD 7,648,000 for the three months ended March 31, 2020, an improvement from a loss of HKD 9,874,000 in the same period of 2019, indicating a reduction in losses by 22%[4] - Basic and diluted loss per share for the period was HKD 0.10, compared to HKD 0.16 for the same period in 2019, reflecting a decrease in loss per share by 38%[10] - The net loss attributable to owners of the company for the period was HKD 7,580,000, compared to HKD 10,555,000 in the prior year, showing a decrease of 28%[8] - The total comprehensive loss for the period was HKD 11,320,000, compared to HKD 10,019,000 for the same period in 2019, indicating an increase in comprehensive loss by 13%[10] - The group recorded an unaudited loss of approximately HKD 7.65 million for the three months ended March 31, 2020, an improvement from a loss of approximately HKD 10.72 million in the same period of 2019[35] Revenue Sources - Total revenue for the first quarter of 2020 was HKD 22,815,000, a significant increase from HKD 8,972,000 in the same period of 2019, representing a growth of 153%[19] - Commission income from securities and futures brokerage services was HKD 21,520,000, up from HKD 8,081,000 in 2019, marking an increase of 166%[19] - Revenue from automotive trade agency fees and parts procurement reached HKD 22,672,000, compared to HKD 8,834,000 in the previous year, reflecting a growth of 157%[19] - The automotive sales and agency services segment generated revenue of approximately HKD 22.52 million, up from approximately HKD 8.72 million in the same period last year, representing an increase of about 159%[35] - The automotive sales segment accounted for approximately 98.7% of the group's revenue during the first quarter of 2020[38] Cost and Expenses - Employee benefit expenses increased to HKD 5,189,000 from HKD 4,772,000, marking an increase of 9% year-over-year[7] - The company reported a financing cost of HKD 18,000, down from HKD 267,000 in the previous year, indicating a reduction of 93%[7] - The company experienced a significant decrease in inventory changes, with a loss of HKD 21,881,000 compared to HKD 8,517,000 in the previous year[7] Dividends and Tax - The company did not recommend the payment of a dividend for the three months ended March 31, 2020[5] - The group did not make any provisions for Hong Kong profits tax or China corporate income tax due to tax losses incurred during the period[22] - The company did not recommend any dividend for the period ending March 31, 2020, consistent with the previous year[31] Share Capital and Options - The total number of issued ordinary shares as of March 31, 2020, was 7,748,958,120, an increase from 6,718,821,034 shares in the previous year[26] - As of March 31, 2020, the company had unexercised share options totaling 82,840,095 shares from a previous plan that granted 84,000,000 shares on April 13, 2010[50] - The new share option plan, effective from June 21, 2012, will not grant additional options but remains valid for ten years, with a maximum of 30% of issued shares available for options without prior shareholder approval[50] Governance and Compliance - The audit committee, consisting of three independent non-executive directors, reviewed the financial statements for the three months ending March 31, 2020, ensuring compliance with applicable accounting standards[59] - The company has adhered to all principles and provisions of the GEM Listing Rules Appendix 15 Corporate Governance Code, with some deviations noted[53] - The roles of the chairman and CEO are held by the same individual, which deviates from the recommended governance practices[54] - The company confirmed that no directors or management shareholders have any business interests that compete with the group as of March 31, 2020[51] - The company has implemented a code of conduct for directors' securities trading, which meets or exceeds the standards set by the GEM Listing Rules[55] Future Outlook - The company is focused on improving operational efficiency and reducing costs in response to the current market conditions[4] - The group plans to diversify its business by investing in the new drug development market in China, responding to regulatory changes in the pharmaceutical industry[38] - The group remains optimistic about the prospects of the Chinese and Hong Kong stock markets and will continue to seek opportunities to expand its revenue sources[38] - The group anticipates applying pricing strategies to clear inventory and maintain financial stability in the coming months due to the impact of the COVID-19 pandemic[35] Other Income - Other income for the quarter included miscellaneous income of HKD 365,000, slightly up from HKD 344,000 in 2019[21] Acquisitions - The company acquired a 6.34% stake in Chongqing Shengyu Hongjia International Trade Co., Ltd. for RMB 6,406,900 in April 2020, increasing its ownership to 99.67%[56]

HRSE 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) 1010 ummand a CHARACTERISTICS OF GEM OF THE STOCK EXCHANGE OF HONG KONG LIMITED (THE "STOCK EXCHANGE") GEM has been positioned as a market designed to accommodate small and mid-sized companies to which a higher investment risk may be attached than other companies listed on the Stock Exchange. Prospective investors should be aware of the potent ...

Financial Performance - For the nine months ended September 30, 2019, the group recorded revenue of approximately HKD 225,474,000, a decrease of 33.0% compared to HKD 337,046,000 for the same period in 2018[6] - The group reported a loss of approximately HKD 87,601,000 for the nine months ended September 30, 2019, compared to a loss of HKD 14,126,000 for the same period in 2018[6] - Basic and diluted loss per share for the nine months ended September 30, 2019, was HKD 1.24, compared to a loss of HKD 0.22 for the same period in 2018[9] - Total comprehensive loss for the nine months ended September 30, 2019, amounted to HKD 93,711,000, compared to HKD 27,268,000 for the same period in 2018[9] - The group experienced a significant decrease in revenue for the third quarter of 2019, reporting HKD 95,515,000, down 46.3% from HKD 177,893,000 in the same quarter of 2018[8] - Other income and net losses for the nine months ended September 30, 2019, were HKD 2,125,000, compared to HKD 212,000 for the same period in 2018[8] - The group recorded a significant inventory impairment of HKD 3,505,000 for the nine months ended September 30, 2019[8] - The group incurred employee benefit expenses of HKD 17,144,000 for the nine months ended September 30, 2019, an increase from HKD 15,377,000 in the same period of 2018[8] - The group reported a foreign exchange loss of HKD 6,110,000 for the nine months ended September 30, 2019, compared to a loss of HKD 14,143,000 for the same period in 2018[9] - The company reported a loss attributable to shareholders of HKD (83,548) million for the nine months ended September 30, 2019, compared to a loss of HKD (13,920) million in the same period of 2018[31] Revenue Breakdown - The company reported a total revenue of 77,480 thousand HKD for the period ending September 30, 2019, compared to 21,200 thousand HKD in the previous year, representing a significant increase[12] - Revenue from the automotive sales and related agency services segment was approximately HKD 222.58 million for the nine months ending September 30, 2019, down from approximately HKD 333.64 million in the same period last year[42] - The company’s revenue from electronic student ID platform services was HKD 68 million for the three months ended September 30, 2019, down from HKD 185 million in the same period of 2018[27] - Total revenue for the three months ended September 30, 2019, was HKD 108,602 million, a decrease from HKD 177,893 million in the same period of 2018[27] - The revenue from securities and futures brokerage commission services was HKD 120 million for the three months ended September 30, 2019, compared to HKD 103 million in the same period of 2018[27] Accounting Standards and Compliance - The financial statements were prepared in accordance with the Hong Kong Financial Reporting Standards, ensuring compliance with applicable disclosure requirements[14] - The implementation of HKFRS 16 has resulted in an increase in both assets and liabilities on the balance sheet, affecting the timing of expense recognition in the income statement[16] - The total assets decreased to HKD 384,284 million after the adoption of HKFRS 16, compared to HKD 381,284 million before the adoption[26] - The total non-current assets increased to HKD 35,746 million after the adoption of HKFRS 16, compared to HKD 30,731 million before the adoption[26] - The audit committee has reviewed the financial statements for the nine months ending September 30, 2019, confirming compliance with applicable accounting standards[67] - The company has adhered to all principles and provisions of the GEM Listing Rules Appendix 15 Corporate Governance Code, with some deviations noted[61] Business Strategy and Market Focus - The company plans to expand its market presence in China and Hong Kong, focusing on precious metals trading and electronic products sales[13] - The company is adjusting its business strategy due to the ongoing US-China trade war and is exploring other business opportunities to increase revenue[39] - The company is shifting its resources towards investment in the Chinese new drug development market due to uncertainties from the ongoing US-China trade war and the impact of Chinese government policies on its automotive business[46] - The company is optimistic about the opportunities in the Chinese pharmaceutical market, driven by government reforms, a large aging population, and increasing per capita income[46] - The company plans to continue developing other businesses and seek opportunities to expand its revenue sources in the Chinese and Hong Kong stock markets[46] Shareholder Information - As of September 30, 2019, the company’s director Wang Jiawei holds 2,102,255,935 shares, representing approximately 27.13% of the company’s shares[47] - The company has a stock option plan that allows contributors to the group’s interests to acquire equity, with the new stock option plan effective for ten years starting June 21, 2012[56] - The old stock option plan expired on December 16, 2011, but unexercised options granted under it remain valid and can be exercised according to their terms[56] - The company does not know of any person holding 5% or more of the issued share capital of any other member of the group that is entitled to vote at general meetings[54] - As of September 30, 2019, the company has unexercised share options totaling 82,840,095 from the April 13, 2010 grant, with no options exercised or canceled during the period[57] Governance and Internal Controls - The roles of the chairman and CEO are held by the same individual, Mr. Wang Jiawei, which deviates from the governance code's recommendation[62] - The company has established an audit committee consisting of three independent non-executive directors to oversee financial reporting and internal controls[66] - No conflicts of interest were reported among directors and management shareholders as of September 30, 2019[58] - The company has confirmed compliance with the trading standards for directors during the review period[63] - The company has not purchased, sold, or redeemed any of its listed securities during the period[59] Other Developments - The company has decided to invest RMB 30 million in a limited partnership focused on the Chinese new drug development market, shifting resources away from the automotive business[40] - The company sold all equity in Shenzhen Tianxing Tong Technology Co., Ltd. for a cash consideration of RMB 2,400,000 in October 2019, terminating its electronic products division[64] - A customer has filed an arbitration claim against the company's joint venture, seeking RMB 11,025,000 in damages related to a sales agreement for 350 vehicles[64] - The company is committed to providing comprehensive medical services and optimizing the national medical insurance system as part of the government's "Healthy China" initiative by 2030[46] - The company is focused on enhancing its revenue and market presence through strategic investments and business development initiatives[46]

Financial Performance - The company reported a loss of approximately HKD 72,826,000 for the six months ended June 30, 2019[5]. - The loss attributable to the owners of the company was about HKD 69,424,000 for the same period[6]. - Revenue for the six months ended June 30, 2019, was approximately HKD 129,960,000, a decrease from HKD 159,153,000 in the same period of 2018[10]. - Basic and diluted loss per share for the period was HKD 1.03[7]. - Total comprehensive loss for the period was HKD 72,101,000, compared to HKD 25,045,000 in the same period of 2018[11]. - The net loss before tax for the period was HKD 20,151,000, compared to a loss of HKD 1,874,000 in the previous year, indicating a significant increase in losses[60]. - Basic and diluted loss per share for the six months ended June 30, 2019, was HKD (0.0103), compared to HKD (0.0031) for the same period in 2018, reflecting a worsening financial position[61]. - The group reported an unaudited loss of approximately HKD 72.83 million for the six months ended June 30, 2019, compared to a loss of HKD 20.15 million in the same period of 2018, with a basic loss per share of approximately HKD 1.03 compared to HKD 0.31 in the prior year[89]. Revenue and Segments - Revenue for the six months ended June 30, 2019, was HKD 129,960,000, compared to HKD 159,153,000 for the same period in 2018, reflecting a decrease of approximately 18.3%[43]. - The segment performance for financing services reported a loss of HKD 62,987,000 for the six months ended June 30, 2019, compared to a loss of HKD 72,826,000 for the same period in 2018[47]. - The company generated HKD 1,148,000 from sales of electronic products, electronic student cards, and campus safety products for the six months ended June 30, 2019, compared to HKD 97,000 in the same period of 2018[43]. - Revenue from the automobile sales and agency services segment was approximately HKD 127.42 million for the six months ended June 30, 2019, down from approximately HKD 156.18 million in the same period last year, a decline of about 18.4%[86]. - The automotive sales and agency services segment accounted for approximately 98% of the group's revenue, highlighting the reliance on a limited number of customers[91]. Assets and Liabilities - The company’s total assets amounted to HKD 383,373,000 as of June 30, 2019, down from HKD 412,131,000 as of December 31, 2018[14]. - Current liabilities were HKD 70,445,000 as of June 30, 2019, compared to HKD 30,847,000 at the end of 2018[14]. - The net current assets decreased from HKD 350,553,000 to HKD 264,713,000, representing a decline of approximately 24.5%[16]. - Total assets minus current liabilities decreased from HKD 381,284,000 to HKD 312,928,000, a decrease of about 17.9%[16]. - The total equity attributable to owners decreased from HKD 364,618,000 to HKD 295,767,000, reflecting a decline of approximately 19%[16]. - The group’s equity attributable to owners was approximately HKD 295.77 million, a decrease of 18.9% or HKD 68.85 million from December 31, 2018[90]. Cash Flow and Investments - The net cash used in operating activities was HKD (20,321,000), compared to HKD (27,877,000) in the previous year, indicating an improvement of about 27%[31]. - The net cash used in investing activities was HKD (28,451,000), a significant decrease from HKD 10,202,000 in the previous year[31]. - The total cash and cash equivalents at the end of the period decreased to HKD 101,330,000 from HKD 104,996,000, a decline of about 3.2%[31]. - The accumulated losses increased from HKD (1,403,119,000) to HKD (1,472,637,000), an increase of approximately 4.9%[16]. - The company’s investment in securities has a total market value of approximately HKD 18,520,000 as of June 30, 2019, compared to HKD 17,959,000 at the end of 2018, showing a slight increase[66]. Corporate Governance - The company has adhered to all principles and provisions of the GEM Listing Rules Appendix 15 "Corporate Governance Code" during the review period, with some deviations noted[117]. - The roles of the Chairman and CEO are not separated, as Mr. Wang Jiawei serves both positions, ensuring shareholder interests are adequately protected[118]. - The company has adopted a code of conduct for directors' securities trading, confirming compliance with the standards set forth in GEM Listing Rules[119]. - An audit committee has been established to review and supervise the group's financial reporting and internal control procedures, in compliance with GEM Listing Rules[120]. - The audit committee consists of three independent non-executive directors, ensuring proper oversight of financial statements[121].

Financial Performance - For the three months ended March 31, 2019, the group recorded revenue of approximately HKD 10,023,000[4] - The loss for the same period was approximately HKD 10,723,000[5] - The loss attributable to the owners of the company was approximately HKD 10,555,000[6] - Basic and diluted loss per share was HKD 0.16[7] - Other income and gains for the period were HKD 509,000, down from HKD 8,639,000 in the same period last year[10] - The group experienced a significant decrease in revenue compared to HKD 124,098,000 for the same period in 2018, representing a decline of approximately 91.9%[10] - The group reported a total comprehensive loss of HKD 10,019,000 for the period[12] - The company recorded revenue of approximately HKD 10.02 million for the first quarter of 2019, a decrease of about HKD 114.08 million compared to HKD 124.10 million in the same period of 2018[39][40] - Revenue from the automotive sales and agency services segment was approximately HKD 8.72 million for the first quarter of 2019, down from approximately HKD 122.60 million in the same period of 2018, representing a decline of about 113.88 million[39][40] - The company reported a basic and diluted loss per share of HKD 0.0016 for the first quarter of 2019, compared to a loss of HKD 0.0001 in the same period of 2018[33] - The company recorded other income of HKD 9,885 thousand for the first quarter of 2019, compared to HKD 123,971 thousand in the same period of 2018[29] - The company incurred a tax loss during the period, resulting in no provision for Hong Kong and overseas profits tax[31] - The group reported an unaudited loss of approximately HKD 10.72 million for the first quarter of 2019, compared to an unaudited loss of approximately HKD 0.82 million in the same period last year[41] - The basic loss per share attributable to the owners of the company was approximately HKD 0.16 cents, compared to a loss of approximately HKD 0.01 cents in the same period last year[41] Dividends - The board of directors did not recommend the payment of a dividend for the three months ended March 31, 2019[8] - The company did not recommend any dividend for the period ending March 31, 2019, consistent with no dividends declared in 2018[37] Assets and Liabilities - As of March 31, 2019, the group's net current assets were approximately HKD 356.58 million, with a current ratio of 13.6 times[42] - The group's cash and bank balances were approximately HKD 116.90 million, of which approximately HKD 7.74 million was held in trust accounts for clients[42] - The group's debt amounted to approximately HKD 4.15 million, secured by land and buildings, with a debt-to-equity ratio of 10.67%[42] Shareholder Information - As of March 31, 2019, the largest shareholder, Wang Jiawei, held approximately 27.13% of the company's shares[45] - The company’s total issued shares as of March 31, 2019, were 6,718,821,034, an increase from 6,498,958,120 shares in the same period of 2018[33] Business Outlook - The company attributed the revenue decline primarily to the impact of the US-China trade war and the Spring Festival on its automotive sales operations[40] - The group remains optimistic about the outlook for its imported automobile business, particularly with the potential reduction of the VAT rate from 16% to 13% in China[44] - The group plans to continue developing other businesses and seek opportunities to expand its revenue sources[44] Corporate Governance - The audit committee, consisting of three independent non-executive directors, has reviewed the financial statements for the three months ending March 31, 2019, and found them to comply with applicable accounting standards[64] - The company has adopted a code of conduct for directors' securities trading, which meets or exceeds the standards set by GEM Listing Rules[61] - The company has complied with all principles and code provisions of the GEM Listing Rules Appendix 15, except for certain deviations[58] - The roles of the chairman and the CEO are not held by the same individual, ensuring clear delineation of responsibilities[59] - The company has established an audit committee to review and supervise the financial reporting and internal control procedures[62] - As of March 31, 2019, the company has not identified any business or interests of directors that may compete with the group’s business[56] Stock Options - The new stock option plan is effective for a period of ten years starting from June 21, 2012, with no new options to be granted unless prior approval from shareholders is obtained[55] - As of March 31, 2019, there are 82,840,095 unexercised stock options remaining from the previous stock option plan[55] - The company has a stock option plan allowing individuals contributing to the group’s interests to acquire shares[53] - The company has not purchased, sold, or redeemed any of its listed securities during the reporting period[57]

華 億 金 控 集 團 有 限 公 司 SINOFORTUNE FINANCIAL HOLDINGS LIMITED (Incorporated in the Cayman Islands with limited liability)(於 関曼群島註冊成立之有限公司) (Stock code 股份代號: 08123) ANNUAL REPORT 2018 ** CHARACTERISTICS OF GEM OF THE STOCK EXCHANGE OF HONG KONG LIMITED (THE "STOCK EXCHANGE") GEM has been positioned as a market designed to accommodate small and mid-sized companies to which a higher investment risk may be attached than other companies listed on the Stock Exchange. Prospective investors should be aware of the pote ...