ANNUAL REPORT 年報 2023/24 CHARACTERISTICS OF GEM OF THE STOCK EXCHANGE OF HONG KONG LIMITED (THE "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 Exchange. Prospective investors should be aware of the potential risks of investing in such companies and should make the decision to invest only after due and careful consideration. Given that the companies listed on GEM are gen ...

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，概不就因本公告全部或任 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。 （於開曼群島註冊成立並於百慕達存續之有限公司） （股份代號：8159） CHINA UNITED VENTURE INVESTMENT LIMITED 截至二零二四年三月三十一日止十五個月 全年業績公告 新華聯合投資有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然宣佈本公 司及其附屬公司截至二零二四年三月三十一日止十五個月之經審核全年業績。本 公告列載本公司二零二三╱二四年年報全文，並符合香港聯合交易所有限公司（「聯 交所」）GEM證券上市規則（「GEM上市規則」）中有關全年業績初步公告附載資 料之要求。 承董事會命 新華聯合投資有限公司 主席兼非執行董事 王漓峰 香港，二零二五年六月十七日 於本公告日期，執行董事為范小令先生；非執行董事為王漓峰先生（主席）；及獨 立非執行董事為甄嘉勝醫生（首席獨立董事）、張德安先生、盧彩霞女士及楊琛女士。 本公告的資料乃遵照GEM上市規則而刊載，旨在提供有關 ...

Financial Performance - For the six months ended September 30, 2024, the group reported revenue of HKD 19,474,000, an increase from HKD 10,537,000 in the same period of 2023, representing an increase of 84.5%[7] - The gross profit for the same period was HKD 4,690,000, compared to HKD 2,531,000 in 2023, reflecting a growth of 85.3%[7] - The total loss for the period was HKD 15,920,000, an improvement from a loss of HKD 18,074,000 in the previous year, indicating a reduction of 6.4%[9] - Basic loss per share for the period was HKD 0.84, compared to HKD 0.97 in 2023, showing a decrease of 13.4%[7] - The company reported a pre-tax loss of HKD 1,788,000 for the six months ended September 30, 2024, compared to HKD 1,572,000 for the same period in 2023[44] - The company recorded a net loss attributable to shareholders of approximately HKD 15.9 million, a decrease from HKD 18.1 million in 2023, indicating improved financial performance despite ongoing challenges[172] Assets and Liabilities - Total assets less current liabilities as of September 30, 2024, were HKD 13,903,000, down from HKD 28,866,000 as of March 31, 2024[13] - The company's net assets decreased to HKD 7,699,000 from HKD 23,317,000, a decline of 66.9%[13] - The total liabilities as of September 30, 2024, were HKD 50,441,000, down from HKD 83,820,000 as of March 31, 2024, indicating a reduction of 39.8%[11] - As of September 30, 2024, the company's current liabilities exceeded current assets by approximately HKD 30,103,000[27] - The asset-liability ratio increased to approximately 331.3% as of September 30, 2024, compared to 88.3% on March 31, 2024, primarily due to the impact of the COVID-19 pandemic[173] Cash Flow and Financing - The group reported other income of HKD 102,000 for the period, a significant decrease from HKD 4,690,000 in the same period of 2023[7] - For the six months ended September 30, 2024, the company reported a net cash outflow from operating activities of HKD 142,000[19] - The company is actively negotiating repayment plans with major creditors and considering other financing options[27] - The company is considering other fundraising activities, including equity and debt financing, to support its general working capital needs[27] - The company has sufficient financial resources to meet future working capital and financing needs, as stated by the board of directors[1] Revenue Sources - Revenue from Thailand was HKD 19,469,000, up 87.8% from HKD 10,368,000 in the previous year, while revenue from the Philippines decreased to HKD 5,000 from HKD 139,000[33] - Total revenue from merchant acquiring business reached approximately HKD 19.5 million, a significant increase from HKD 10.5 million in 2023, driven by the recovery of Chinese tourists in Thailand[163] - Merchant acquiring transaction fee income was approximately HKD 17.9 million, up from HKD 9.1 million in 2023, reflecting an increase of about 98.9%[163] Operational Efficiency - The company plans to enhance operational efficiency and implement cost control measures to improve profitability and future cash flows[27] - General administrative expenses decreased by approximately 41.1% to HKD 8.8 million from HKD 14.9 million in 2023, due to enhanced cost control measures[168] Share Capital and Dividends - The company has a total issued and paid-up share capital of 1,898,106,667 shares as of September 30, 2024[18]. - No dividends were recommended for the six months ended September 30, 2024, consistent with the previous year[53] - The company has no predetermined dividend payout ratio, and any future dividend declarations will depend on various factors including operational performance and financial condition[177] Convertible Bonds and Preferred Shares - The company issued convertible bonds (Convertible Bond I) on June 26, 2020, with a total principal amount of HKD 11,850,000 and an annual interest rate of 7%[74] - The company issued a second convertible bond (Convertible Bond II) on March 5, 2024, with a total principal amount of HKD 4,388,000 and an annual interest rate of 7%[93] - The company issued convertible bonds III on May 22, 2024, with a principal amount of HKD 931,000 and a coupon rate of 7%[109] - The company issued convertible bonds IV on May 28, 2024, with a principal amount of approximately HKD 1,918,000 and a coupon rate of 7%[123] - The company has issued preferred shares classified as liabilities, with a cumulative dividend rate of 9.5%[71] Business Strategy and Market Conditions - The company is actively seeking potential business partners and distributors to expand its service coverage in the Southeast Asian market[160] - The company plans to continue exploring new business opportunities and closely monitor its financial condition to enhance profitability and cost control[160] - The board will continue to assess the market conditions in Thailand and the Philippines and their impact on the company's business[196] - The company reported that the consumption of Chinese tourists in Thailand has not yet returned to pre-pandemic levels, impacting business expansion[195] Employee and Management Costs - The total employee costs, including key management compensation, amounted to approximately HKD 3.0 million for the reporting period, down from HKD 3.8 million in 2023[189] - The company’s management personnel compensation decreased to HKD 1,267,000 for the six months ended September 30, 2024, from HKD 2,092,000 in the same period of 2023[19]

Financial Performance - The company reported a significant increase in revenue, achieving a total of $XX million for the fiscal year 2022, representing a YY% growth compared to the previous year[2]. - In 2022, the Group recorded revenue of approximately HK$287.9 million, representing a decrease of approximately 15.2% compared to 2021[26]. - The Electronics Business generated revenue of approximately HK$272.6 million, down approximately 14.1% from HK$317.2 million in 2021, primarily due to the adverse impact of the COVID-19 pandemic on consumer demand[27]. - The master-planning and architectural design business recorded revenue of approximately HK$8.3 million, a decrease of approximately 62.3% compared to HK$22.0 million in 2021, affected by the ongoing COVID-19 pandemic and challenges in the PRC real estate market[28]. - The Group recorded total turnover of approximately HK$287.9 million, down approximately 15.1% from HK$339.3 million in the previous year[61]. - Gross profit increased to approximately HK$34.2 million, a rise of approximately 62.9% compared to HK$21.0 million in the prior year, with the gross profit margin improving from approximately 6.2% to 11.9%[62]. - The Financial Services Business, which commenced in 2022, generated HK$7.0 million in revenue and recorded an operating profit of HK$1.2 million[60]. - The Group reported a net loss attributable to owners of approximately HK$61.9 million for the year, a decrease of approximately 2.2 times compared to a net profit of approximately HK$50.0 million in the previous year[87][92]. - Basic and diluted losses per share for the year were approximately HK$8.79 cents, compared to earnings of approximately HK$7.10 cents per share in the previous year[88][93]. Strategic Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of BB% based on current market trends and user acquisition strategies[2]. - New product launches are expected to contribute significantly to revenue, with an estimated impact of CC million in the upcoming quarter[2]. - Market expansion plans include entering EE new regions, which are anticipated to increase market share by FF%[2]. - The company is considering strategic acquisitions to bolster its market position, with potential targets identified in the industry[2]. - The Group remains optimistic about its performance in the coming year despite market challenges, focusing on maximizing returns for shareholders[49]. Investment and Development - The company is investing in new technology development, allocating DD million towards R&D to enhance product offerings and improve user experience[2]. - A focus on sustainability initiatives is being prioritized, with investments of HH million planned to improve environmental impact and corporate responsibility[2]. - The Group plans to diversify into the financial services industry, having acquired 100% of State Venture Capital Limited and 70% of State Innovation Capital Limited[118]. - The Financial Services Business aims to provide a full range of services, including fund issuance and asset management, targeting the Guangdong-Hong Kong-Macao Greater Bay Area[122]. - The Group intends to enhance its Architectural Design Business by integrating interior design services with electronic interior accessories sales[124]. Corporate Governance and Compliance - The Group acknowledged deficiencies in corporate governance and internal control systems, implementing all recommended enhancement measures[111]. - New policies and procedures have been established, including tightening investment approval processes and enhancing document retention controls[116]. - The Group is committed to monitoring the effectiveness of its corporate governance and internal control systems to meet GEM Listing Rules obligations[114]. Leadership and Management - The company has established a strong leadership team with diverse expertise in finance, law, and management, which is expected to drive future growth[161]. - Mr. Wang Li Feng has been an executive director since September 15, 2016, and holds multiple leadership roles within the company, including vice chairman of the Board[153]. - Mr. Huang Bin, appointed as a non-executive director and chairman of the Board on February 20, 2022, has extensive experience in fund and asset management[168]. - The management team includes experienced professionals with backgrounds in technology and finance, enhancing the company's strategic capabilities[192]. Challenges and Risks - The Electronics Business continues to face challenges from COVID-19 impacting global consumer demand, despite recovery in the global economy[54]. - The Electronics Business has been negatively impacted by supply chain disruptions and raw material price inflation due to the Covid-19 pandemic, affecting profitability[117]. Acquisitions and Partnerships - The company completed the acquisition of equity interests in State Venture Investment (HK) Holdings Limited in March 2022, which holds a 51% stake in Qingdao Guotou, specializing in mergers and acquisitions and distressed asset management[39]. - The Group acquired 100% of Radiant Assets Management Limited in March 2022, aiming to leverage strategic partnerships for investment in distressed assets[44]. - The strategic partnership with Beijing Beiwenshijie Cultural Co., Ltd. aims to expand into the cultural tourism sector, enhancing design services and creating new development opportunities[41]. Miscellaneous - The Company’s shares were suspended from trading on April 3, 2023, due to anticipated delays in the publication of the audited annual results announcement for the year ended December 31, 2022[102][106]. - An independent investigation was conducted regarding audit issues, and the findings were disclosed in an announcement dated April 2, 2024[107][108]. - The company changed its name from "GLORY MARK HI-TECH (HOLDINGS) LIMITED" to "China United Venture Investment Limited" effective from May 13, 2022[150].

Financial Performance - For the third quarter of 2023, the company reported revenue of HKD 39,977,000, a decrease of 41.9% compared to HKD 68,641,000 in the same period last year[6] - The gross profit for the third quarter was HKD 8,692,000, representing a 26.5% increase from HKD 6,867,000 year-over-year[6] - The company recorded a net profit of HKD 1,593,000 for the third quarter, compared to a net loss of HKD 11,019,000 in the same quarter of the previous year[6] - Total comprehensive income for the third quarter was HKD (869,000), a significant improvement from HKD (9,636,000) in the prior year[8] - Total revenue for the nine months ended September 30, 2023, was HKD 129,023,000, a decrease from HKD 235,714,000 in the same period of 2022[21] - The company reported a loss attributable to owners of the company of HKD 29,614,000 for the nine months ended September 30, 2023, compared to a loss of HKD 30,768,000 in the same period of 2022[28] - The group recorded a total revenue of approximately HKD 129.0 million for the nine months ended September 30, 2023, down about 45.3% from HKD 235.7 million in the same period of 2022[42] - Gross profit for the nine months ended September 30, 2023, was approximately HKD 16.8 million, a decrease of about 39.1% from HKD 27.6 million in the same period of 2022[43] - Other income decreased by approximately 33.3% to about HKD 2.4 million for the nine months ended September 30, 2023, compared to HKD 3.6 million in the same period of 2022[44] - Selling and distribution expenses were approximately HKD 4.9 million for the nine months ended September 30, 2023, a reduction of about 27.9% from HKD 6.8 million in the same period of 2022[45] - Administrative expenses decreased to approximately HKD 41.2 million for the nine months ended September 30, 2023, down from HKD 48.9 million in the same period of 2022, a reduction of about 7.7 million[46] - The group reported a net loss attributable to owners of approximately HKD 29.6 million for the nine months ended September 30, 2023, a slight decrease of about 3.9% from a net loss of HKD 30.8 million in the same period of 2022[50] - Basic loss per share for the nine months ended September 30, 2023, was approximately HKD 0.0421, compared to HKD 0.0437 in the same period of 2022[51] Cost Management - The company’s administrative expenses decreased to HKD 14,632,000 from HKD 16,962,000, reflecting a reduction of 13.7%[6] - The financial costs for the third quarter were HKD 1,238,000, down from HKD 1,712,000 in the previous year, indicating a reduction of 27.7%[6] - The company aims to improve operational efficiency and reduce costs further in the next fiscal year[5] Revenue Sources - Revenue from OEM customers for the three months ended September 30, 2023, was HKD 21,476,000, accounting for 53.7% of total revenue, compared to HKD 41,502,000 and 60.5% in the same period of 2022[21] - Revenue from retail distributors for the nine months ended September 30, 2023, was HKD 54,730,000, representing 42.4% of total revenue, compared to HKD 89,397,000 and 37.9% in the same period of 2022[21] - Sales in the United States accounted for 33.4% of total revenue for the three months ended September 30, 2023, down from 36.9% in the same period of 2022[22] - The electronic products business generated revenue of approximately HKD 127.3 million for the nine months ended September 30, 2023, a decrease of about 44.6% compared to HKD 229.6 million in the same period of 2022[37] - The architectural design business saw revenue drop from approximately HKD 6.1 million in 2022 to about HKD 1.7 million in 2023, a decline of approximately 72.1%[38] Corporate Actions - The company completed the sale of its subsidiaries, marking a complete exit from the financial industry, with the transactions valued at a symbolic HKD 1 each[34] - The company expects to receive approximately RMB 11,300,000 from land acquisition, which will be used for relocating factories, repaying mortgage loans, upgrading equipment, and operational expenses[32] Shareholder Information - PT Design Group Holdings holds 50.51% of the issued share capital, while Mr. Pang Guoxi controls 10.57% through Modern Wealth Assets Limited[58] - The average number of issued ordinary shares for the nine months ended September 30, 2023, remained at 704,000 shares, unchanged from the previous year[30] - The company did not declare any dividends for the nine months ended September 30, 2023, consistent with the previous year[26] - The board has decided not to declare any dividends for the nine-month period[68] Governance and Compliance - The audit committee, consisting of three independent non-executive directors, reviewed the financial reports for the nine-month period[71] - The company has adhered to the corporate governance code as per GEM listing rules during the nine-month period[69] - The company has maintained sufficient public float throughout the nine-month period[60] - No shares were purchased, sold, or redeemed by the company or its subsidiaries during the nine-month period[67] - There were no arrangements made for directors to benefit from purchasing shares or debt securities of the company[59] - The company has not established any provisions for preemptive rights regarding the issuance of new shares[66] - The board confirmed compliance with trading standards throughout the nine-month period[62] - No interests were held by directors in competing businesses during the nine-month period[65] Future Outlook - The company has indicated plans for market expansion and new product development in the upcoming quarters[5] - The financial services and accelerated computing businesses have not generated any revenue as they are still in the early stages of development[40][41]

Financial Performance - For the three months ended September 30, 2023, the company reported revenue of HKD 39,977,000, a decrease of 41.9% compared to HKD 68,641,000 for the same period in 2022[8] - The gross profit for the third quarter of 2023 was HKD 8,692,000, representing a 26.6% increase from HKD 6,867,000 in the third quarter of 2022[8] - The company recorded a net profit of HKD 1,593,000 for the third quarter of 2023, compared to a net loss of HKD 11,019,000 in the same quarter of the previous year[8] - For the nine months ended September 30, 2023, total revenue was HKD 129,023,000, down 45.4% from HKD 235,714,000 in the same period of 2022[8] - The company reported a net loss of HKD 31,629,000 for the nine months ended September 30, 2023, compared to a net loss of HKD 30,657,000 for the same period in 2022[8] - Basic and diluted earnings per share for the third quarter of 2023 were HKD 0.003, compared to a loss of HKD 0.0155 per share in the third quarter of 2022[10] - The company reported a pre-tax loss of HKD 29,614,000 for the nine months ended September 30, 2023, compared to a pre-tax loss of HKD 30,768,000 for the same period in 2022[26] - For the nine months ended September 30, 2023, the company recorded a revenue of approximately HKD 129.0 million, a decrease of about 45.3% compared to HKD 235.7 million for the same period in 2022[44] - The gross profit for the nine months ended September 30, 2023, was approximately HKD 16.8 million, down about 39.1% from HKD 27.6 million in the same period last year[45] - The electronic products business contributed approximately HKD 127.3 million in revenue for the nine months ended September 30, 2023, a decrease of about 44.6% from HKD 229.6 million in the same period of 2022[39] - The construction design business saw its revenue drop from approximately HKD 6.1 million in 2022 to about HKD 1.7 million in 2023, a decline of approximately 72.1%[40] - The company reported other income of approximately HKD 2.4 million for the nine months ended September 30, 2023, down about 33.3% from HKD 3.6 million in the same period last year[46] Expenses and Costs - Administrative expenses for the third quarter of 2023 were HKD 14,632,000, a decrease from HKD 16,962,000 in the third quarter of 2022[8] - The company’s financial costs for the third quarter of 2023 were HKD 1,238,000, down from HKD 1,712,000 in the same period of the previous year[8] - Administrative expenses for the nine months ended September 30, 2023, were approximately HKD 41.2 million, a decrease of about HKD 7.7 million from HKD 48.9 million in the same period of 2022[48] - The company incurred a tax expense of approximately HKD 90,000 for the nine months ended September 30, 2023, compared to HKD 2.7 million in the same period of 2022[51] Foreign Exchange and Other Financial Metrics - The company experienced a foreign exchange loss of HKD 2,462,000 in the third quarter of 2023, compared to a gain of HKD 5,646,000 in the same quarter of 2022[10] - The company’s depreciation and amortization expenses for the nine months ended September 30, 2023, were HKD 3,387,000, compared to HKD 3,133,000 for the same period in 2022[26] Strategic Outlook - The company aims to improve operational efficiency and explore new market opportunities in the upcoming quarters[7] - The company plans to continue expanding its market presence and developing new products to enhance revenue streams in the upcoming quarters[12] - The company aims to restore share trading and strengthen its competitive position through innovation and customer-centric strategies[54] Shareholder Information - The company did not declare any dividends for the nine months ended September 30, 2023, consistent with the previous year[28] - The board has resolved not to declare any dividends for the nine-month period[70] - PT Design Group Holdings Limited holds 355,620,000 shares, representing 50.51% of the issued share capital of the company[60] Corporate Governance - The audit committee, consisting of independent non-executive directors, reviewed the financial reports and internal control procedures[73] - The company has complied with the corporate governance code as per GEM Listing Rules during the nine-month period[71] - The company has adopted a code of conduct for securities transactions by directors, ensuring compliance with the required standards[64] - No shares were purchased, sold, or redeemed by the company or its subsidiaries during the nine-month period[69] Miscellaneous - The company’s total assets as of September 30, 2023, were HKD 83,801,000, a decrease from HKD 114,615,000 as of January 1, 2023[12] - The company’s cash and cash equivalents as of September 30, 2023, were HKD 66,437,000, down from HKD 96,051,000 as of January 1, 2023[12] - The report will be published on the GEM website and the company's website for at least seven days from the date of publication[75] - The English version of the report will prevail in case of any discrepancies with the Chinese version[76] - The executive directors include Mr. Wang Lifeng (Chairman) and Mr. Fan Xiaoling[75] - The company completed the sale of subsidiaries in the financial services sector for a nominal consideration of HKD 1, marking its exit from the financial industry[36]

Financial Performance - For the first quarter of 2023, the company reported revenue of HKD 49,554,000, a decrease of 39.8% compared to HKD 82,127,000 in the same period of 2022[6] - The gross profit for the first quarter of 2023 was HKD 9,710,000, representing a significant increase of 153.5% from HKD 3,837,000 in the previous year[6] - The company incurred a loss before tax of HKD 7,666,000, an improvement of 36.5% compared to a loss of HKD 12,133,000 in Q1 2022[6] - The net loss for the first quarter of 2023 was HKD 7,693,000, which is a 41.1% reduction from HKD 13,208,000 in the same quarter of the previous year[6] - The basic loss per share for Q1 2023 was HKD 0.93, compared to HKD 1.90 in Q1 2022, indicating a decrease in loss per share by 51.0%[6] - The net loss attributable to the company's owners for the three months ended March 31, 2023, was approximately HKD 6.5 million, a reduction of about 50.6% from a net loss of approximately HKD 13.2 million in the same period last year[39] Revenue Sources - Revenue from OEM customers accounted for 59.3% of total revenue in Q1 2023, slightly down from 60.8% in Q1 2022, while revenue from retail distributors increased to 40.7% from 37.3%[14] - The electronic products business generated approximately HKD 49.6 million in revenue, down approximately 38.5% from HKD 80.6 million in the same period last year[27] Expenses and Costs - Administrative expenses rose to HKD 14,588,000 in Q1 2023, compared to HKD 12,296,000 in Q1 2022, reflecting an increase of 18.7%[6] - Administrative expenses increased to approximately HKD 14.6 million from approximately HKD 12.3 million in the same period last year, primarily due to increased rental expenses for production facilities in mainland China[35] - The group incurred finance costs of approximately HKD 800,000, an increase from HKD 196,000 in the same period last year, due to new debt raised since the second quarter of the previous fiscal year[37] Other Income and Tax - The company reported other income of HKD 801,000 in Q1 2023, down from HKD 1,392,000 in the same period last year[6] - The group recorded other income of approximately HKD 801,000, a decrease of about 42.5% from approximately HKD 1.4 million in the same period last year[33] - The group recorded income tax expenses of approximately HKD 27,000, a significant decrease from approximately HKD 1.1 million in the same period last year[38] Business Strategy and Outlook - The company continues to focus on its core business segments, including sales of connection products and comprehensive construction services, while exploring opportunities in financial services[14] - The financial services business is still in its early stages and did not generate any revenue for the three months ended March 31, 2023[30] - The first financial quarter of 2023 marks a historical moment with the normalization of the economy post-COVID-19 and the reopening of China's borders, reflecting positive results driven by favorable factors[40] - The company has demonstrated a significant outlook with increased demand for electronic products and services as consumer confidence recovers[40] - The board is confident that the positive impact will extend to other business segments within the group[40] - The commitment to innovation and customer-centric strategies has enhanced the company's competitive position, preparing it for continued success[40] Dividends - The group did not declare any dividends for the period, consistent with the previous year[19]

Financial Performance - For the first quarter ended March 31, 2023, the company reported revenue of HKD 49,554,000, a decrease of 39.8% compared to HKD 82,127,000 in the same period of 2022[8] - The cost of sales for the first quarter was HKD 39,844,000, resulting in a gross profit of HKD 9,710,000, which is an increase of 153.5% from HKD 3,837,000 in the previous year[8] - The company recorded a loss before tax of HKD 7,666,000, an improvement from a loss of HKD 12,133,000 in the first quarter of 2022[8] - The net loss for the period was HKD 7,693,000, compared to a net loss of HKD 13,208,000 in the same quarter last year, indicating a reduction in losses by 41.0%[8] - Basic loss per share for the first quarter was HKD 0.93, improved from HKD 1.90 in the previous year[8] - The group recorded a pre-tax loss of approximately HKD 6.5 million for the period, compared to a loss of approximately HKD 13.3 million in the same period of 2022[22] - The net loss attributable to the company's owners for the three months ended March 31, 2023, was approximately HKD 6.5 million, a reduction of about 50.6% from a net loss of HKD 13.2 million in the same period of 2022, primarily due to a significant increase in gross margin[41] Revenue Breakdown - For the three months ended March 31, 2023, the group recorded revenue of approximately HKD 49.6 million, a decrease of about 39.6% compared to HKD 82.1 million in the same period of 2022[33] - The electronic products business generated revenue of approximately HKD 49.6 million, down approximately 38.5% from HKD 80.6 million in the same period of 2022[29] - The group’s revenue from OEM customers was approximately HKD 29.4 million, accounting for 59.3% of total revenue, while revenue from retail distributors was approximately HKD 20.2 million, accounting for 40.7%[16] - The group’s revenue from the construction design business was zero for the period, a decrease of approximately 100% compared to HKD 3.5 million in the same period of 2022[30] - The group’s revenue from the United States was approximately HKD 17.3 million, accounting for 34.8% of total revenue, while revenue from South Korea was approximately HKD 13.8 million, accounting for 27.8%[20] Expenses and Costs - Administrative expenses increased to HKD 14,588,000 from HKD 12,296,000, reflecting a rise of 18.7% year-on-year[8] - The company incurred financial costs of HKD 800,000, which is a significant increase from HKD 196,000 in the previous year[8] - Sales and distribution expenses for the three months ended March 31, 2023, were approximately HKD 1.6 million, a decrease of 40.3% compared to HKD 2.6 million in the same period of 2022, primarily due to cost control in the architectural design and financial services sectors[36] - Administrative expenses for the same period were approximately HKD 14.6 million, an increase of about HKD 2.3 million from approximately HKD 12.3 million in 2022, mainly due to increased rental expenses for production facilities in mainland China[37] - Financial costs for the three months ended March 31, 2023, were approximately HKD 800,000, up from HKD 196,000 in the same period of 2022, attributed to new debt raised since the second quarter of the fiscal year ending December 31, 2022[39] - Income tax expenses for the same period were approximately HKD 27,000, significantly lower than HKD 1,075,000 in the same period of 2022[40] Strategic Focus and Future Outlook - The company aims to enhance its market presence and explore new product development opportunities in the upcoming quarters[8] - The financial results indicate a strategic focus on improving operational efficiency and reducing losses while navigating market challenges[8] - The first financial quarter of 2023 marked a historical moment for economic recovery post-COVID-19, with increased demand for electronic products and services as consumer confidence returned, indicating a positive outlook for the company[42] - The company maintains a commitment to innovation and customer-centric strategies, enhancing its competitive position and preparing for continued success[42] - The group is actively pursuing new design business opportunities and remains cautiously optimistic about the future performance of the construction design business[30] Corporate Governance - Major shareholders include PT Design, holding 355,620,000 shares, representing 50.51% of the issued share capital, and Mr. Pang Guoxi, holding 74,403,000 shares, representing 10.57%[47] - The company has maintained sufficient public float during the reporting period[50] - There were no arrangements made during the period that would allow directors to benefit from purchasing shares or debt securities of the company or any other entity[49] - The company has adhered to the corporate governance code as per GEM Listing Rules Appendix C1 throughout the period[59] - The audit committee consists of three members, including independent non-executive directors, with Dr. Zhen Jia Sheng as the chairman[60] - The financial performance report for the three months ending March 31, 2023, has been reviewed by the audit committee but remains unaudited[60]

Financial Performance - The company's revenue for the year ended December 31, 2022, was HKD 287.85 million, a decrease of 15.1% compared to HKD 339.26 million in 2021[4]. - Gross profit increased to HKD 34.18 million, up 62.5% from HKD 21.03 million in the previous year[4]. - The company reported a loss before tax of HKD 61.23 million, compared to a loss of HKD 53.43 million in 2021, indicating a deterioration in financial performance[4]. - Total comprehensive loss for the year was HKD 61.79 million, compared to a comprehensive income of HKD 42.75 million in 2021[4]. - The basic and diluted loss attributable to owners of the company for 2022 was HKD 61,906,000, compared to a profit of HKD 49,989,000 in 2021[50]. - The total segment loss before tax for the year 2022 was HKD 61,225,000, worsening from a loss of HKD 53,434,000 in 2021[28][29]. - The group reported a net loss attributable to owners of approximately HKD 57.7 million, a decrease of about 2.2 times compared to a profit of HKD 49.7 million in 2021[76]. Assets and Liabilities - The company's net assets decreased to HKD 114.62 million from HKD 173.11 million in the previous year, reflecting a decline of 33.8%[8]. - Total assets decreased to HKD 319,751,000 in 2022 from HKD 417,114,000 in 2021, reflecting a reduction of 23.4%[32]. - The total liabilities also decreased to HKD 205,136,000 in 2022 from HKD 244,006,000 in 2021, a decline of 16%[32]. - Non-current assets totaled HKD 62,205,000 in 2022, down from HKD 68,966,000 in 2021, a decrease of 9.9%[38]. - As of December 31, 2022, the group's current assets net value was approximately HKD 70.2 million, with a current ratio of about 1.39[78][79]. - The group’s debt-to-capital ratio increased to approximately 1.78 as of December 31, 2022, compared to 1.41 in the previous year[79]. Revenue Breakdown - The group reported total revenue of HKD 287.85 million for the year ended December 31, 2022, with a breakdown of HKD 272.62 million from sales of connection products, HKD 8.27 million from service contracts, and HKD 6.96 million from financial services[17]. - Revenue from OEM customers amounted to HKD 164.23 million, while revenue from retail distributors was HKD 108.38 million, indicating a strong performance in these segments[17]. - The group generated HKD 81.63 million in revenue from the South Korean market and HKD 102.43 million from the United States, highlighting significant contributions from these regions[17]. - The electronic products segment contributed approximately HKD 272.6 million in revenue for the year ended December 31, 2022, a decrease of about 14.1% compared to HKD 317.2 million in 2021[60]. - The architectural design segment generated revenue of approximately HKD 8.3 million, down about 62.3% from HKD 22.0 million in the same period of 2021, primarily due to the impact of COVID-19 on the Chinese real estate market[61]. - The financial services segment, which started in 2022, recorded revenue of HKD 7.0 million and an operating profit of HKD 1.2 million for the year[63]. Cash Flow and Liquidity - Cash and cash equivalents increased to HKD 106.48 million, up from HKD 84.13 million in 2021, showing improved liquidity[7]. - Trade and other receivables dropped to HKD 104.20 million from HKD 197.21 million, a decline of 47.2%[7]. - Trade receivables as of December 31, 2022, totaled HKD 45,686,000, a decrease from HKD 84,580,000 in 2021, with significant changes in aging analysis[55]. - Trade payables as of December 31, 2022, amounted to HKD 38,733,000, down from HKD 67,991,000 in 2021, indicating improved cash flow management[57]. Corporate Governance and Compliance - The company has complied with the GEM listing rules corporate governance code for the year ended December 31, 2022[103]. - The audit committee consists of three independent non-executive directors, responsible for reviewing financial reports and internal control procedures[106]. - Following the resignation of certain directors, the composition of the board fell below the minimum required for the audit and nomination committees as per GEM listing rules[105]. - The company adopted a code of conduct for securities transactions by directors, which is not less stringent than the GEM listing rules[103]. Future Outlook and Strategic Initiatives - Future outlook remains uncertain with ongoing market challenges and no specific guidance provided for the upcoming year[10]. - The company plans to diversify into financial services, acquiring 100% of New China Investment Limited and 70% of New China Science Capital Limited[88]. - The company aims to enhance shareholder value and reinvest existing resources for maximum asset utilization and value[89]. - The company is developing a new service combining interior design with electronic home decor sales[86]. - The company will continue to monitor industry developments and review its business expansion plans regularly[81]. - The company has initiated a plan to strengthen its financial services business with experienced financial professionals joining the board[88]. Dividends and Share Capital - The company did not declare or recommend any dividends for the year ended December 31, 2022, consistent with 2021[48]. - The company maintained a share capital of HKD 7,040,000 with 704,000 shares issued and fully paid as of December 31, 2022[58]. - The company did not recommend a final dividend for the year, consistent with the previous year where no dividend was paid[107]. Regulatory Changes - The group expects no significant impact on its financial performance from the adoption of new Hong Kong Financial Reporting Standards[14]. - The group has not early adopted new financial reporting standards that are yet to take effect, indicating a cautious approach to regulatory changes[13]. - The group anticipates that the application of new financial reporting standards will not materially affect its financial position or performance[14].

Financial Performance - For the three months ended September 30, 2022, the company reported revenue of HKD 68,641,000, a 10% increase from HKD 61,774,000 in the same period last year[9]. - Gross profit for the same period was HKD 6,867,000, significantly up from HKD 2,806,000 year-over-year, reflecting a gross margin improvement[9]. - The company incurred a loss from continuing operations of HKD 11,019,000 for the three months ended September 30, 2022, compared to a loss of HKD 11,182,000 in the prior year[11]. - Total comprehensive loss for the nine months ended September 30, 2022, was HKD 30,768,000, compared to a loss of HKD 6,437,000 in the same period last year[11]. - The company reported a net loss attributable to shareholders of approximately HKD 30.8 million for the nine months ended September 30, 2022, compared to a net loss of approximately HKD 6.4 million for the same period in 2021, representing an increase of approximately 381.3%[63]. - Basic loss per share for the nine months ended September 30, 2022, was approximately HKD 4.37, compared to a loss of HKD 0.91 per share for the same period in 2021[64]. Revenue and Income - The company reported other income of HKD 1,036,000 for the three months ended September 30, 2022, compared to HKD 18,000 in the previous year[9]. - The company reported a total of HKD 3,649,000 in other income for the nine months ended September 30, 2022, compared to HKD 2,159,000 in the previous year[9]. - Revenue from the electronic products business was approximately HKD 229.6 million for the nine months ended September 30, 2022, a decrease of about 0.6% compared to approximately HKD 231.1 million for the same period in 2021[50]. - Revenue from the construction design business decreased significantly from approximately HKD 18.8 million in 2021 to approximately HKD 6.1 million in 2022, a decline of about 67.6%[51]. - Total revenue for the group was approximately HKD 235.7 million for the nine months ended September 30, 2022, down about 5.7% from approximately HKD 249.9 million in the same period of 2021[54]. Expenses and Costs - Administrative expenses increased to HKD 16,962,000 for the three months ended September 30, 2022, from HKD 8,530,000 in the same period last year, indicating rising operational costs[9]. - The company’s financial costs rose to HKD 1,712,000 for the three months ended September 30, 2022, compared to HKD 549,000 in the previous year[9]. - Selling and distribution expenses rose by 21.4% to approximately HKD 6.8 million, attributed to increased marketing efforts and online store operations[57]. - Administrative expenses increased by approximately 20.4% to about HKD 48.9 million, primarily due to higher rental costs and employee expenses related to the new financial services business[58]. - Financial costs increased significantly to approximately HKD 2.1 million from HKD 549,000 in the previous year, due to new debt incurred since the second quarter of the previous fiscal year[61]. Losses and Liabilities - The company reported a loss attributable to owners of the company of HKD 30,768,000 for the nine months ended September 30, 2022, compared to a loss of HKD 6,437,000 for the same period last year[36]. - The company’s pre-tax loss for the nine months ended September 30, 2022, was HKD (21,053,000), compared to a pre-tax loss of HKD (1,473,000) for the same period last year[32]. - The company’s total liabilities increased, reflecting a need for further capital management strategies moving forward[9]. Shareholder Information - As of September 30, 2022, major shareholder Wang Lifeng holds 355,620,000 shares, representing 50.51% of the issued share capital[69]. - Modern Wealth Assets Limited, owned by Mr. Pang Guoxi, holds 74,403,000 shares, representing 10.57% of the issued share capital[73]. - The weighted average number of ordinary shares in issue for the nine months ended September 30, 2022, was 704,000, unchanged from the previous year[36]. Corporate Governance and Compliance - The company has complied with the corporate governance code as per GEM listing rules during the nine-month period[89]. - The audit committee is composed of three members, all of whom are independent non-executive directors[90]. - The company has adopted a code of conduct for securities trading by directors, ensuring compliance with GEM Listing Rules[80]. Strategic Initiatives - The company aims to enhance shareholder value by strengthening its new service combining interior design with the sale of proprietary electronic home decor products, utilizing 3D printing technology for new architectural designs[66]. - The company is expanding its financial services business in both Hong Kong and mainland China, covering areas such as fund issuance, asset management, and insurance brokerage, which is expected to provide additional growth engines[68]. - The company is committed to providing comprehensive design services through enhanced internet interaction with users, aligning with the "Internet + Cultural Creativity" trend[66]. Other Information - The company did not declare any dividends for the nine-month period, consistent with the previous year[35]. - The company did not purchase, sell, or redeem any shares during the nine-month period[87]. - There were no significant events after September 30, 2022, up to the report date[97]. - The report will be available on the GEM website and the company's website for at least seven days from the publication date[99].