Financial Performance - Revenue for the six months ended September 30, 2019, was HKD 10,252,000, an increase of 8.7% compared to HKD 9,426,000 for the same period in 2018[6] - Gross profit for the same period was HKD 2,252,000, down 44.3% from HKD 4,065,000 in 2018[6] - The company reported a loss before tax of HKD 12,223,000, an improvement of 16.7% compared to a loss of HKD 14,680,000 in the previous year[6] - The net loss attributable to shareholders for the period was HKD 11,385,000, compared to a loss of HKD 14,662,000 in the same period last year[8] - The overall comprehensive loss for the period was HKD 11,385,000, compared to a comprehensive loss of HKD 14,662,000 in the previous year[8] - The group reported a loss of approximately HKD 18.1 million for the period, compared to a loss of approximately HKD 21.1 million in the previous period[105] - The gross profit decreased by approximately 43.9%, from HKD 4.1 million in the previous period to approximately HKD 2.3 million in the current period, with a gross margin of approximately 22.3%[102] Assets and Liabilities - Total assets as of September 30, 2019, amounted to HKD 51,704,000, an increase from HKD 41,974,000 as of March 31, 2019[10] - Current liabilities increased to HKD 83,603,000 from HKD 59,935,000, indicating a rise in short-term financial obligations[10] - The company’s non-current liabilities, including convertible bonds, decreased to HKD 112,774,000 from HKD 162,630,000, indicating a reduction in long-term debt[11] - As of March 31, 2019, the group reported total assets of HKD 44,298,000 and total liabilities of HKD 222,564,000[48] - As of September 30, 2019, the total debt was approximately HKD 140.7 million, down from approximately HKD 184.2 million as of March 31, 2019[109] Cash Flow - The company reported a net cash outflow from operating activities of HKD 7,824,000 for the six months ended September 30, 2019, compared to a net cash inflow of HKD 5,498,000 in the same period of 2018[28] - The net cash inflow from investing activities was HKD 1,515,000 for the six months ended September 30, 2019, slightly down from HKD 1,815,000 in 2018[28] - The net cash inflow from financing activities was HKD 3,850,000, a significant improvement compared to a net cash outflow of HKD 9,000,000 in the previous year[28] - The company’s cash and cash equivalents decreased to HKD 306,000 from HKD 2,220,000, reflecting a significant reduction in liquidity[10] - The total cash and cash equivalents at the end of the period stood at HKD 306,000, compared to HKD 740,000 at the end of the previous period[28] Business Operations - The company’s main business includes digital television broadcasting and advertising services in Hong Kong and China, automotive beauty services, and securities investment[30] - The group generated external customer revenue of HKD 10,252,000 for the reporting period, with segment performance showing a loss before tax of HKD 18,110,000[44] - The group’s digital television segment reported external customer revenue of HKD 10,000,000, while the lending segment generated HKD 252,000[44] - The company plans to focus on market expansion and new product development to enhance future performance[6] - The group plans to expand into the automotive and related businesses, potentially including the manufacturing and sale of new energy vehicles[112] Shareholder and Governance - Shareholders confirmed to provide ongoing financial support for 12 months starting from the approval date of the audited consolidated financial statements for the year ended March 31, 2019[35] - The company has not issued any convertible bonds during the reporting period, maintaining a stable capital structure[25] - The company has complied with all corporate governance codes as per GEM listing rules, except for a minor notification issue regarding board meetings[131] - The company continues to adopt the code of conduct for securities trading by directors, in compliance with GEM listing rules[132] - The company has undergone significant changes in its board of directors, with Mr. Wang Dequn transitioning from executive director to non-executive director and no longer serving as chairman of the board effective April 17, 2019[134] Financial Management - Management plans to improve financial performance by gradually reducing unnecessary expenses and administrative costs while exploring new business sources for sustainable growth and recurring revenue[36] - The company’s financing costs for the six months ended September 30, 2019, were HKD 10,180,000, a decrease from HKD 18,920,000 in the same period of 2018[56] - The company has established a credit control department to minimize credit risk associated with accounts receivable[71] - The company has a policy of requiring advance payments from new customers, which helps mitigate credit risk[71] Market and Segment Performance - Advertising service revenue for the three months ended September 30, 2019, was HKD 5,000,000, up 25.3% from HKD 3,991,000 in the same period last year[55] - The lending business recorded revenue of approximately HKD 252,000, an increase from approximately HKD 247,000 in the previous period, attributed to an increase in receivables[97] - The company reported other income of HKD 8,000 for the six months ended September 30, 2019, compared to HKD 49,000 in the same period of 2018[55] Share Capital and Ownership - The company issued 452,000,000 ordinary shares on October 11, 2019, as part of a subscription agreement, indicating ongoing capital raising efforts[91] - As of September 30, 2019, Mr. Wang Dequn holds 220,000,000 shares, representing 5.87% of the company's issued share capital[117] - Enerchina Investments Limited and Uptown WW Capital both hold 75,000,000 shares and 1,620,000,000 related shares, totaling 45.25% ownership[122] - Kenson Investment Limited holds 120,000,000 shares and 1,380,100,000 related shares, accounting for 40.04% ownership[124] - Mr. Yao Guoming holds 80,458,628 shares, representing 13.36% of the total[124] - Ms. Song Wenxia holds 364,200,547 shares, which is 9.72% of the total[124]

Financial Performance - Revenue for the first quarter of 2019 was HKD 5,124,000, an increase of 21.2% compared to HKD 4,227,000 in the same period of 2018[6] - Gross profit decreased to HKD 1,124,000, down 53.8% from HKD 2,430,000 year-on-year[6] - Loss before tax for the period was HKD 5,887,000, slightly improved from a loss of HKD 6,299,000 in the previous year[6] - The total comprehensive loss for the period was HKD 5,887,000, compared to HKD 5,777,000 in the same period last year[9] - Basic and diluted loss per share from continuing and discontinued operations was HKD 0.19, down from HKD 0.33 in the previous year[7] - The total loss attributable to owners of the company was HKD 5,887,000, compared to HKD 6,332,000 in the previous year[7] - The group recorded a loss of approximately HKD 5.9 million for the period, compared to a loss of HKD 6.3 million in the previous period[62] - The gross profit decreased to approximately HKD 1.1 million, a decline of about 53.7% from HKD 2.4 million in the previous period[57] Revenue Breakdown - Digital TV service revenue for the three months ended June 30, 2019, was HKD 5,000,000, an increase of 22% from HKD 4,104,000 in the same period of 2018[21] - Total revenue for the three months ended June 30, 2019, was HKD 5,124,000, compared to HKD 4,227,000 in the same period of 2018, reflecting a growth of 21%[21] - The digital television business generated revenue of approximately HKD 5.0 million, up from HKD 4.1 million in the previous period[49] Expenses and Costs - Administrative expenses increased to HKD 3,649,000, compared to HKD 3,380,000 in the same period of 2018[6] - Employee benefits expenses for the three months ended June 30, 2019, were HKD 1,222,000, down 38% from HKD 1,983,000 in the same period of 2018[23] - Financing costs decreased significantly to HKD 2,853,000 from HKD 8,451,000 year-on-year[6] - Financing costs for the three months ended June 30, 2019, amounted to HKD 2,853,000, a decrease of 66% from HKD 8,451,000 in the same period of 2018[22] - Administrative expenses were approximately HKD 3.6 million, stable compared to HKD 3.4 million in the previous period[60] Future Plans and Strategies - The company plans to reduce unnecessary expenses and administrative costs while exploring new business opportunities to improve financial performance[20] - The company plans to continue strict cost control measures in future periods[60] - The management will continue to develop robust operational strategies and seek other investment opportunities to enhance stakeholder returns[65] Financial Position and Support - The company has received confirmation from shareholders for ongoing financial support for a period of twelve months starting from the approval date of the audited financial statements[19] - The company is in discussions with financial institutions and bondholders to secure new borrowings and refinance existing debts[19] - The company recorded a net current liability and net liability position as of June 30, 2019, indicating significant uncertainty regarding its ability to continue as a going concern[19] Tax and Compliance - The company has not recognized any provision for corporate income tax in China for the three months ended June 30, 2019, as there was no taxable income[26] - The company did not recommend the payment of dividends for the period ending June 30, 2019[44] Shareholder Information - The number of issued ordinary shares increased to 3,626,172,752 shares as of June 30, 2019, from 2,680,475,222 shares as of March 31, 2019[64] - As of June 30, 2019, major shareholders include Wang Dequn with 220,000,000 shares (6.07%) and Qian Gang with 74,740,000 shares (2.06%)[67] - The largest shareholder, Weihuada Holdings Limited, holds approximately 1,620,000,000 related shares, representing 46.74% of the total[73] Governance and Compliance - The board of directors has complied with the GEM Listing Rules, except for the requirement that independent non-executive directors must constitute at least one-third of the board[78] - The audit committee reviewed the unaudited first-quarter report for the period ending June 30, 2019, confirming compliance with applicable accounting standards and GEM Listing Rules[85] - The audit committee was composed of three independent non-executive directors, later expanded to five on July 9, 2019, and then reduced to four on July 18, 2019, with Mr. Li serving as the chairman[85] - The company adopted a code of conduct for directors' securities trading, ensuring compliance with GEM Listing Rules, with a prohibition period from July 16, 2019, to August 15, 2019[80] - Non-executive director Mr. Qian sold 74,740,000 shares at an average price of HKD 0.016 per share on July 17, 2019, violating the trading restrictions during the blackout period[81] - The company has not adopted any new share option plans since the previous plan expired on February 1, 2019[77] - The company emphasizes the importance of timely notifications for board meetings, although it has not always provided 14 days' notice as required[78] Product and Technology Development - The company has not disclosed any new product or technology developments in the report[65]

Financial Performance - For the nine months ended December 31, 2018, the company reported revenue of HKD 17,338,000, an increase from HKD 15,713,000 in the same period of 2017, representing a growth of 10.3%[4] - The gross profit for the nine months ended December 31, 2018, was HKD 5,325,000, compared to HKD 10,915,000 in 2017, indicating a decline of 51.2%[4] - The net loss for the nine months ended December 31, 2018, was HKD 28,821,000, compared to a net loss of HKD 22,893,000 in the same period of 2017, reflecting an increase in losses of 26.0%[6] - The company reported a total comprehensive loss of HKD 46,670,000 for the three months ended December 31, 2018, compared to HKD 10,293,000 in the same period of 2017, indicating a significant increase in losses[6] - The company’s basic and diluted loss per share for the nine months ended December 31, 2018, was HKD 1.30, compared to HKD 1.64 in the same period of 2017[4] - The company recorded a loss of approximately HKD 39.5 million due to adjustments in the equity portion of the convertible bonds[11] - The loss attributable to the company's owners for the nine months ended December 31, 2018, was HKD 28.7 million, compared to a loss of HKD 22.8 million for the same period in 2017[39] - The company reported a loss of HKD 7,761 thousand for the three months ended December 31, 2018, compared to a loss of HKD 9,985 thousand for the same period in 2017[39] Revenue Sources - The company recorded revenue of HKD 7.6 million from digital television services for the three months ended December 31, 2018, compared to HKD 1.4 million for the same period in 2017, representing a growth of 448%[24] - The digital television business generated revenue of approximately HKD 15.7 million during the period, up from approximately HKD 13.1 million in the previous period, primarily due to changes in policies in certain regions of China[43] - The automotive beauty business experienced a revenue decline of 47.2%, down to approximately HKD 1.3 million, attributed to unfavorable market conditions and price competition in Hong Kong[44] Share Issuance and Financing - The company issued 150,000,000 shares at HKD 0.10 each to Artic Blue Corporation to settle outstanding loans of approximately HKD 15 million[10] - An additional 70,000,000 shares were issued at HKD 0.10 each to Mr. Wang Dequn to provide additional financial resources for the company's overall development[10] - The company issued 219,801,000 shares to pay approximately HKD 11.0 million in interest to bondholders[14] - The company issued 2,680,475,222 ordinary shares as of December 31, 2018, an increase from 1,900,674,675 shares as of March 31, 2018[68] - The net proceeds from capital raising activities during the period included approximately HKD 15 million for debt repayment and HKD 7 million for operational funding and business development[69] Expenses and Cost Management - The total expenses for the nine months ended December 31, 2018, amounted to HKD 67,109,000, significantly higher than HKD 23,742,000 in the same period of 2017, reflecting an increase of 182.5%[6] - The interest expense on convertible bonds was HKD 5,783 thousand for the nine months ended December 31, 2018, compared to HKD 22,470 thousand for the same period in 2017[5] - Employee benefits expenses, including directors' remuneration, totaled HKD 6,841 thousand for the nine months ended December 31, 2018, down from HKD 7,678 thousand in the previous year[30] - The group’s administrative expenses decreased by approximately 13.6% to about HKD 10.9 million from approximately HKD 12.6 million in the previous period, reflecting strict cost control measures[64] - The company plans to reduce non-essential expenses and administrative costs to improve financial performance[23] Corporate Governance and Shareholder Information - The company has complied with all corporate governance codes as per GEM listing rules, with some exceptions regarding board meeting notifications[89] - There were changes in the board of directors, including the appointment of a new independent non-executive director[92][93] - The company has maintained a code of conduct for directors' securities trading, adhering to the GEM listing rules[90] - The company has a total of 600,000,000 shares, with a notable 23.73% held by a controlled corporation[80] - The company reported a significant shareholder structure, with the largest shareholder holding approximately 18.67% of the shares, totaling 80,458,628 shares[78] - Another major shareholder holds 7.52% of the shares, amounting to 21,600,000 shares[78] Future Plans and Strategic Initiatives - The company is considering fundraising activities including placements and rights issues to address liquidity issues[22] - The group plans to expand into the cultural industry, including environmental and related businesses, with potential projects in producing and selling eco-friendly building materials starting in 2019[73] Audit and Compliance - The Audit Committee's responsibilities were revised on January 1, 2019, focusing on reviewing the annual report, semi-annual report, and quarterly reports, providing opinions and recommendations to the Board[97] - The Audit Committee consists of three independent non-executive directors, with Mr. Li Zhi Hua as the chairman[97] - The Audit Committee reviewed the unaudited Q3 results for the nine months ending December 31, 2018, and confirmed compliance with applicable accounting standards and GEM listing rules[97]