Group 1 - The company has reached the resumption guidelines and will resume trading on the stock exchange [1] - The company's shares have been suspended from trading since 9:00 AM on July 2, 2024, as per the company's request [1] - The application for resuming trading has been submitted to the stock exchange, with a planned resumption date of 9:00 AM on August 12, 2025 [1]

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的任何損失承擔任何責任。 除另有界定外，本公告所用詞彙與該等公告所界定者具有相同涵義。 背景 於二零二四年七月二日，應本公司要求，本公司股份於聯交所暫停買賣，以待刊發 本公司截至二零二四年三月三十一日止十五個月（「二零二四年十五個月」）之經 審核全年業績公告（「二零二四年十五個月業績」）。 （於開曼群島註冊成立並於百慕達存續之有限公司） CHINA UNITED VENTURE INVESTMENT LIMITED （股份代號：8159） 達成復牌指引 及 恢復買賣 本公告乃由新華聯合投資有限公司（「本公司」，連同其附屬公司，統稱「本集團」） 董事（「董事」）會（「董事會」）根據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」）第17.10條及香港法例第571章證券及期貨條例第 XIVA部項下之內幕消息條文作出。 茲提述本公司日期為二零二四年六月二十八日、二零二四年七月三十一日（「二零 二四年七月更新公 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 致：香港交易及結算所有限公司 本月底法定/註冊股本總額： HKD 100,000,000 FF301 第 1 頁 共 10 頁 v 1.1.1 FF301 II. 已發行股份及/或庫存股份變動 公司名稱: 新華聯合投資有限公司（於開曼群島註冊成立並於百慕達存續之有限公司） 呈交日期: 2025年8月6日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 08159 | 說明 | 普通股 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 10,000,000,000 | HKD | | 0.01 | HKD | | 100,000,000 | | 增 ...

CHINA UNITED VENTURE INVESTMENT LIMITED （於開曼群島註冊成立並於百慕達存續之有限公司） (Incorporated in the Cayman Islands and continued in Bermuda with limited liability) 20 24 Environmental, Social and Governance Report 環境、社會及管治報告 Environmental, Social and Governance Report 環境、社會及管治報告 CONTENTS 目錄 | ABOUT THE REPORT | 有關本報告 | 2 | | --- | --- | --- | | Reporting Scope and Basis | 報告範圍與基準 | 2 | | Reporting Principles | 匯報原則 | 3 | | SUSTAINABILITY AT GROUP | 本集團之可持續發展 | 4 | | Sustainability Governance | 可持續發展治理框架 | 4 | | Sustainabi ...

[Corporate Information](index=4&type=section&id=CORPORATE%20INFORMATION) The report details core company information including board members, committee structures, registered office, principal bankers, and auditors - The report provides comprehensive corporate information, including the **Board of Directors**, various **committee compositions**, **registered office**, **principal bankers**, and **auditors**[12](index=12&type=chunk)[13](index=13&type=chunk)[15](index=15&type=chunk) [Chairman's Statement](index=6&type=section&id=CHAIRMAN'S%20STATEMENT) The Chairman's statement reviews performance, strategic adjustments, and future initiatives amidst market challenges Annual Performance Overview (As of March 31) | Indicator | FY2025 (12 months) | FY2024 (15 months) | Year-on-Year Change | | :--- | :--- | :--- | :--- | | **Total Revenue** | **approximately HK$164.9 million** | **approximately HK$208.6 million** | **-20.9%** | | Electronic Business Revenue | approximately HK$163.6 million | approximately HK$206.4 million | -20.7% | | Architectural Design Business Revenue | approximately HK$1.3 million | approximately HK$2.2 million | -40.9% | - Despite a decrease in total revenue due to a shorter reporting period, the **average monthly revenue remained stable** compared to the previous fiscal year, indicating operational stability[19](index=19&type=chunk)[21](index=21&type=chunk) - To address US export controls on high-performance AI chips, the Group plans to **gradually exit the accelerated computing business** and further focus on its **Vietnam production base** to meet overseas order demands[20](index=20&type=chunk)[21](index=21&type=chunk) - To enhance business performance, the Group continues to invest in R&D for new energy storage and electric vehicle wiring harness applications in its electronic business, while actively exploring emerging markets like Southeast Asia and South America; in architectural design, it is collaborating with an AI R&D team to build an **AI platform for architects** to reduce costs and improve efficiency[24](index=24&type=chunk)[25](index=25&type=chunk) [Message from Lead Independent Director](index=9&type=section&id=MESSAGE%20FROM%20LEAD%20INDEPENDENT%20DIRECTOR) The Lead Independent Director addresses stock trading suspension, ongoing operations, and efforts to strengthen internal controls - During the reporting period, the company faced **stock trading suspension** (effective July 2, 2024) and a challenging operating environment, with the Board diligently fulfilling **resumption guidance** from the Stock Exchange and releasing all overdue financial results[32](index=32&type=chunk)[33](index=33&type=chunk) - The company's principal businesses are **electronic products** and **architectural design**, having divested its financial services business in 2023; despite the share trading suspension, the Group's business operations continue in all material aspects[34](index=34&type=chunk)[37](index=37&type=chunk) - To resolve audit issues causing financial report delays, the company engaged an **independent professional consulting firm** for a comprehensive review, aiming to identify root causes and strengthen the **internal control framework** to mitigate risks and enhance decision-making transparency and flexibility[42](index=42&type=chunk) [Management Discussion and Analysis](index=11&type=section&id=MANAGEMENT%20DISCUSSION%20AND%20ANALYSIS) Management discusses business segments, financial performance, and strategic outlook, including operational adjustments [Business Review](index=11&type=section&id=BUSINESS%20REVIEW) The Group's primary businesses are electronics and architectural design, with plans to phase out accelerated computing due to export controls - The Group primarily engages in **electronic business** (connectors, wiring harnesses, etc.) and **architectural design business**[46](index=46&type=chunk) - Due to escalating US export control measures on high-performance AI chips, the Group plans to **gradually terminate its accelerated computing business** in the future[46](index=46&type=chunk)[48](index=48&type=chunk) [Financial Review](index=11&type=section&id=FINANCIAL%20REVIEW) Total turnover decreased by **20.9%** to **HK$164.9 million**, gross profit fell **34.0%**, and net loss attributable to owners widened to **HK$57 million** Financial Performance Summary (As of March 31) | Indicator | FY2025 (12 months) | FY2024 (15 months) | Change | | :--- | :--- | :--- | :--- | | **Total Turnover** | **HK$164.9 million** | **HK$208.6 million** | **-20.9%** | | Electronic Business Revenue | HK$163.6 million | HK$206.4 million | -20.7% | | Architectural Design Business Revenue | HK$1.3 million | HK$2.2 million | -40.9% | | **Gross Profit** | **HK$13.4 million** | **HK$20.3 million** | **-34.0%** | | Administrative Expenses | HK$55.0 million | HK$72.1 million | -23.7% | | **Net Loss Attributable to Owners** | **HK$57.0 million** | **HK$0.693 million** | **Loss Widened** | | **Basic Loss Per Share** | **8.10 HK cents** | **0.10 HK cents** | **Loss Widened** | Key Financial Position Indicators (As of March 31) | Indicator | 2025 | 2024 | | :--- | :--- | :--- | | Net Current Assets | HK$41.8 million | HK$85.8 million | | Cash and Bank Balances | HK$26.3 million | HK$75.2 million | | Current Ratio | 1.34 | 1.53 | | Gearing Ratio | 1.79 | 1.35 | - The decrease in gross profit is primarily attributed to **higher raw material procurement prices** for the electronic business and the **accelerated computing services business**, which had a low gross profit margin of only **2.4%**, dragging down the overall gross margin[55](index=55&type=chunk)[59](index=59&type=chunk) [Outlook](index=15&type=section&id=OUTLOOK) The Group plans to diversify electronic business production in Vietnam and enhance architectural design services with lifestyle aesthetics consulting - The electronic business will achieve **production and product diversification** through new production facilities in Vietnam and expansion into new product lines like advanced semiconductors, addressing the impact of US-China technology decoupling[86](index=86&type=chunk)[90](index=90&type=chunk) - The architectural design business will strengthen its "**lifestyle aesthetics consulting service**," which integrates interior design with the sale of self-branded electronic interior accessories, with initial R&D for electronic accessory design and production processes already underway[87](index=87&type=chunk)[91](index=91&type=chunk) [Biographical Details of Directors and Senior Management](index=16&type=section&id=BIOGRAPHICAL%20DETAILS%20OF%20DIRECTORS%20AND%20SENIOR%20MANAGEMENT) Detailed biographies of executive, non-executive, and independent non-executive directors, along with senior management, are provided - The report provides detailed biographies of **executive directors**, **non-executive directors**, **independent non-executive directors**, and **senior management members**, including their age, position, professional background, and industry experience[92](index=92&type=chunk)[94](index=94&type=chunk)[101](index=101&type=chunk) [Directors' Report](index=20&type=section&id=DIRECTORS'%20REPORT) The Directors' Report covers key operational aspects, including supplier/customer concentration, dividend policy, and directors' shareholdings [Major Suppliers and Customers](index=21&type=section&id=MAJOR%20SUPPLIERS%20AND%20CUSTOMERS) The Group shows high dependency on its top five suppliers and customers, accounting for **57.8%** of total purchases and **57.6%** of total turnover Supplier and Customer Concentration | Category | Percentage | | :--- | :--- | | Largest Supplier | 28.3% | | Top Five Suppliers | 57.8% | | Largest Customer | 16.8% | | Top Five Customers | 57.6% | [Results and Appropriations](index=21&type=section&id=RESULTS%20AND%20APPROPRIATIONS) The Board does not recommend a final dividend for the year ended March 31, 2025, due to the unstable external business environment - The Board does not recommend a **final dividend** for the reporting period[139](index=139&type=chunk)[146](index=146&type=chunk) [Directors' Interests and Short Positions in Shares and Underlying Shares](index=24&type=section&id=DIRECTORS'%20INTERESTS%20AND%20SHORT%20POSITIONS%20IN%20SHARES%20AND%20UNDERLYING%20SHARES) Chairman Mr. Wang Lifeng holds significant interests in the company's shares as of March 31, 2025, through controlled corporations and as a beneficial owner Directors' Shareholding Details (Mr. Wang Lifeng) | Capacity | Number of Shares Held (Long Position) | Percentage of Issued Share Capital | | :--- | :--- | :--- | | Interest in Controlled Corporation | 355,620,000 | 50.51% | | Beneficial Owner | 52,595,000 | 7.47% | [Corporate Governance Report](index=31&type=section&id=CORPORATE%20GOVERNANCE%20REPORT) The Corporate Governance Report details the Board's composition and functions, along with its committees, ensuring compliance with governance principles [The Board](index=32&type=section&id=THE%20BOARD) The Board comprises six directors: one executive, one non-executive (Chairman), and four independent non-executive directors, with no inter-relationships - The Board consists of **six directors**: one executive director, one non-executive director (Chairman), and four independent non-executive directors[223](index=223&type=chunk) - The company has not had a Chief Executive Officer since December 29, 2022, with daily operations managed by the executive director and senior management; the separation of Chairman and management functions complies with corporate governance codes[231](index=231&type=chunk)[232](index=232&type=chunk)[235](index=235&type=chunk) [Audit Committee](index=34&type=section&id=AUDIT%20COMMITTEE) The Audit Committee, composed of four independent non-executive directors, reviews financial reports, assesses internal controls, and oversees external auditors - The Audit Committee is composed of **four independent non-executive directors**, with Ms. Yang Chen and Dr. Yan Ka Sing serving as co-chairpersons[236](index=236&type=chunk) Auditor's Remuneration | Service Type | FY2024/25 (HKD) | FY2023/24 (HKD) | | :--- | :--- | :--- | | Audit Services | 1,150,000 | 1,150,000 | [Independent Auditor's Report](index=45&type=section&id=INDEPENDENT%20AUDITOR'S%20REPORT) The independent auditor issued an unmodified opinion on the consolidated financial statements, highlighting receivables valuation as a key audit matter - The auditor, BDO Limited, issued an **unmodified opinion** on the company's consolidated financial statements for the year ended March 31, 2025, affirming that the statements present a true and fair view of the Group's financial position, performance, and cash flows[287](index=287&type=chunk)[288](index=288&type=chunk) - A key audit matter in the report is the "**valuation of loans, trade and other receivables**," as the assessment of Expected Credit Losses (ECL) involves significant management judgment and potential for management bias[291](index=291&type=chunk)[294](index=294&type=chunk)[296](index=296&type=chunk) [Consolidated Financial Statements](index=52&type=section&id=CONSOLIDATED%20FINANCIAL%20STATEMENTS) This section presents the Group's consolidated financial statements, including profit or loss, financial position, and cash flows [Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=53&type=section&id=CONSOLIDATED%20STATEMENT%20OF%20PROFIT%20OR%20LOSS%20AND%20OTHER%20COMPREHENSIVE%20INCOME) For the year ended March 31, 2025, the Group reported **HK$164.9 million** revenue, **HK$13.37 million** gross profit, and a net loss attributable to owners of **HK$57.03 million** Consolidated Income Statement Key Data (For the Year Ended March 31) | Indicator | FY2025 (12 months) | FY2024 (15 months) | | :--- | :--- | :--- | | Revenue | HK$164.9 million | HK$208.6 million | | Gross Profit | HK$13.37 million | HK$20.34 million | | (Loss)/Profit from Continuing Operations | (HK$57.08 million) | HK$4.09 million | | **Loss for the Year/Period** | **(HK$57.08 million)** | **(HK$4.27 million)** | | Loss Attributable to Owners of the Company | (HK$57.03 million) | (HK$0.69 million) | | Basic Loss Per Share (Continuing Operations) | (8.10) HK cents | 0.70 HK cents (Profit) | [Consolidated Statement of Financial Position](index=56&type=section&id=CONSOLIDATED%20STATEMENT%20OF%20FINANCIAL%20POSITION) As of March 31, 2025, total assets were **HK$217.6 million**, total liabilities **HK$139.6 million**, and net assets **HK$78 million**, with cash significantly reduced Consolidated Statement of Financial Position Key Data (As of March 31) | Indicator | 2025 | 2024 | | :--- | :--- | :--- | | **Total Assets** | **HK$217.6 million** | **HK$317.9 million** | | Non-Current Assets | HK$54.02 million | HK$70.96 million | | Current Assets | HK$163.6 million | HK$247.0 million | | **Total Liabilities** | **HK$139.6 million** | **HK$182.7 million** | | Current Liabilities | HK$121.8 million | HK$161.2 million | | Non-Current Liabilities | HK$17.84 million | HK$21.55 million | | **Net Assets** | **HK$78.0 million** | **HK$135.2 million** | | Cash and Cash Equivalents | HK$26.31 million | HK$75.20 million | [Consolidated Statement of Cash Flows](index=61&type=section&id=CONSOLIDATED%20STATEMENT%20OF%20CASH%20FLOWS) For the year ended March 31, 2025, the Group experienced a net cash outflow from operating activities of **HK$59 million**, resulting in a net decrease in cash of **HK$48.87 million** Cash Flow Statement Summary (For the Year Ended March 31) | Indicator | FY2025 (12 months) | FY2024 (15 months) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | (HK$58.95 million) | (HK$23.43 million) | | Net Cash Flow from Investing Activities | (HK$2.59 million) | HK$51.90 million | | Net Cash Flow from Financing Activities | HK$12.67 million | (HK$59.22 million) | | **Net Decrease in Cash and Cash Equivalents** | **(HK$48.87 million)** | **(HK$30.76 million)** | | Cash and Cash Equivalents at End of Period | HK$26.31 million | HK$75.20 million | [Notes to the Consolidated Financial Statements](index=64&type=section&id=NOTES%20TO%20THE%20CONSOLIDATED%20FINANCIAL%20STATEMENTS) These notes provide detailed explanations of accounting policies, key estimates, segment information, and specific financial statement line items [Note 5: Revenue](index=109&type=section&id=5.%20REVENUE) Total revenue for FY2025 was **HK$164.9 million**, primarily from connector product sales, with the US, Mainland China, and Japan as key markets FY2025 Revenue Breakdown (Million HKD) | By Business Type | Amount | By Geographical Market | Amount | | :--- | :--- | :--- | :--- | | Sales of Connector Products | 163.7 | United States | 55.1 | | Comprehensive Architectural Services | 1.3 | China | 54.6 | | **Total** | **164.9** | Japan | 29.4 | | | | South Korea | 14.9 | | | | Taiwan | 7.5 | | | | Others | 3.5 | | | | **Total** | **164.9** | [Note 6: Segment Information](index=112&type=section&id=6.%20SEGMENT%20INFORMATION) In FY2025, the connector products segment generated **HK$163.7 million** revenue with **HK$1.1 million** profit, while architectural services had **HK$1.3 million** revenue and a **HK$1.6 million** loss FY2025 Segment Performance (Million HKD) | Segment | Revenue | Segment Result | | :--- | :--- | :--- | | Connector Products | 163.7 | 1.1 | | Comprehensive Architectural Services | 1.3 | (1.6) | [Note 13: Discontinued Operations](index=127&type=section&id=13.%20DISCONTINUED%20OPERATIONS) The Group divested its financial services business in 2023, which incurred a **HK$8.36 million** loss in the prior fiscal year and is classified as discontinued operations - The Group completed the disposal of its financial services business between March and October 2023, which incurred a **HK$8.36 million** loss in FY2024 (15 months)[672](index=672&type=chunk)[673](index=673&type=chunk)[679](index=679&type=chunk) [Note 27: Trade and Other Receivables](index=155&type=section&id=27.%20TRADE%20AND%20OTHER%20RECEIVABLES) Net trade receivables increased slightly to **HK$28.2 million** as of March 31, 2025, with **HK$2.85 million** overdue by more than 180 days Trade Receivables Aging Analysis (Net) | Aging | 2025 (thousand HKD) | 2024 (thousand HKD) | | :--- | :--- | :--- | | 0-30 days | 14,607 | 23,606 | | 31-120 days | 10,012 | 3,150 | | 121-180 days | 722 | 100 | | Over 180 days | 2,853 | – | | **Total** | **28,194** | **26,856** |

[Financial Performance](index=2&type=section&id=Financial%20Performance) [Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=2&type=section&id=Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) For the year ended March 31, 2025, the company shifted from profit to loss, with revenue from continuing operations decreasing and a **HKD 57.03 million** loss attributable to owners, resulting in a basic loss per share of **8.10 HK cents** Key Consolidated Statement of Profit or Loss Data | Metric | Year Ended March 31, 2025 (HKD thousands) | 15-Month Period Ended March 31, 2024 (HKD thousands) | Period-over-Period Change | | :--- | :--- | :--- | :--- | | **Revenue** | 164,940 | 208,569 | -20.9% | | **Gross Profit** | 13,366 | 20,342 | -34.3% | | **(Loss)/Profit from Continuing Operations** | (57,077) | 4,090 | Shifted from profit to loss | | **Loss for the Year/Period** | (57,077) | (4,268) | Loss widened | | **Loss Attributable to Owners of the Company** | (57,031) | (693) | Loss widened | | **Basic Loss Per Share (HK cents)** | (8.10) | (0.10) | Loss widened | - Net other income sharply decreased from **HKD 71.51 million** in the prior period to **HKD 1.72 million** this year, primarily due to high one-time gains from the disposal of property, plant, and equipment and subsidiaries in the prior period[3](index=3&type=chunk)[33](index=33&type=chunk) [Consolidated Statement of Financial Position](index=4&type=section&id=Consolidated%20Statement%20of%20Financial%20Position) As of March 31, 2025, total assets significantly decreased to **HKD 218 million** from **HKD 318 million**, with net assets falling to **HKD 78 million** from **HKD 135 million**, indicating tightened liquidity Key Consolidated Statement of Financial Position Data | Metric | March 31, 2025 (HKD thousands) | March 31, 2024 (HKD thousands) | Change | | :--- | :--- | :--- | :--- | | **Non-current Assets** | 54,020 | 70,961 | -23.9% | | **Current Assets** | 163,598 | 246,971 | -33.8% | | **Current Liabilities** | 121,781 | 161,218 | -24.5% | | **Non-current Liabilities** | 17,837 | 21,551 | -17.2% | | **Net Assets** | 78,000 | 135,163 | -42.3% | | **Cash and Cash Equivalents** | 26,306 | 75,195 | -65.0% | [Notes to the Financial Statements](index=6&type=section&id=Notes%20to%20the%20Financial%20Statements) [Accounting Policies and Basis of Preparation](index=6&type=section&id=Accounting%20Policies%20and%20Basis%20of%20Preparation) The Group adopted revised HKFRSs effective April 1, 2024, with no significant financial impact, though the current 12-month reporting period is not fully comparable to the prior 15-month period due to a change in fiscal year-end - The reporting period end date changed from December 31 to March 31, resulting in a 12-month current financial year compared to a 15-month comparative period, requiring caution when making direct comparisons[11](index=11&type=chunk) - The Group has initially adopted several amendments to Hong Kong Financial Reporting Standards, none of which have had a significant impact on its financial performance or position[8](index=8&type=chunk) [Revenue and Segment Information](index=8&type=section&id=Revenue%20and%20Segment%20Information) This year's total revenue was **HKD 165 million**, primarily from connectivity products, with the US and China as key markets, yielding a **HKD 1.07 million** profit for connectivity products but a **HKD 1.60 million** loss for comprehensive building services [Revenue Analysis](index=8&type=section&id=Revenue%20Analysis) For the year ended March 31, 2025, total revenue was **HKD 165 million**, with **HKD 164 million** from connectivity product sales and **HKD 1.29 million** from comprehensive building services, primarily sourced from the US and China Revenue by Business Type (Year Ended March 31, 2025) | Type of Goods and Services | Revenue (HKD thousands) | | :--- | :--- | | Sales of Connectivity Products | 163,654 | | Comprehensive Building Services | 1,286 | | **Total** | **164,940** | Revenue by Geographical Market (Year Ended March 31, 2025) | Geographical Market | Revenue (HKD thousands) | | :--- | :--- | | United States | 55,070 | | China | 54,565 | | Japan | 29,357 | | South Korea | 14,892 | | Taiwan | 7,510 | | Others | 3,546 | | **Total** | **164,940** | [Segment Performance](index=10&type=section&id=Segment%20Performance) For the year ended March 31, 2025, the connectivity products segment generated **HKD 164 million** in revenue with a **HKD 1.07 million** profit, while comprehensive building services had **HKD 1.29 million** in revenue and a **HKD 1.60 million** loss Segment Performance (Year Ended March 31, 2025) | Segment | Segment Revenue (HKD thousands) | Segment Result (HKD thousands) | | :--- | :--- | :--- | | Connectivity Products | 163,654 | 1,073 | | Comprehensive Building Services Contracts | 1,286 | (1,599) | | **Total** | **164,940** | **(526)** | [Other Key Financial Items](index=14&type=section&id=Other%20Key%20Financial%20Items) This year's other income was **HKD 3.85 million**, primarily from rental income, with finance costs decreasing to **HKD 1.66 million**; the company reported an **8.10 HK cents** loss per share with no dividends, after discontinuing financial services [Other Income, Gains and Costs](index=14&type=section&id=Other%20Income%2C%20Gains%20and%20Costs) This year's other income slightly decreased to **HKD 3.85 million**, mainly from rental and tooling income, while net other gains significantly dropped to **HKD 1.72 million** from **HKD 71.51 million** due to prior asset sales, and finance costs substantially decreased to **HKD 1.66 million** - Finance costs decreased from **HKD 4.62 million** in the prior period to **HKD 1.66 million**, primarily due to reduced interest expenses related to bank borrowings and lease liabilities[34](index=34&type=chunk) [Discontinued Operations](index=15&type=section&id=Discontinued%20Operations) The Group decided to discontinue its financial services business in 2023, completing the sale of relevant entities, resulting in no profit or loss from discontinued operations this year, compared to a **HKD 8.36 million** loss in the prior period - The company sold several subsidiaries engaged in financial services in 2023, with this business segment now classified as discontinued operations[35](index=35&type=chunk) [Taxation](index=16&type=section&id=Taxation) This year recorded an income tax credit of **HKD 2.34 million**, up from **HKD 0.74 million** in the prior period, mainly due to deferred tax changes, with some Chinese subsidiaries benefiting from a 15% preferential corporate income tax rate or small-profit enterprise tax incentives - Some of the Group's subsidiaries in China enjoy a 15% reduced corporate income tax rate and tax incentives for small-profit enterprises[37](index=37&type=chunk) [Loss Per Share](index=17&type=section&id=Loss%20Per%20Share) For the year ended March 31, 2025, the loss attributable to owners was **HKD 57.03 million**, resulting in a basic and diluted loss per share of **8.10 HK cents** based on **704 million** weighted average ordinary shares, compared to **0.10 HK cents** in the prior period Loss Per Share Calculation | Metric | Year Ended March 31, 2025 | 15-Month Period Ended March 31, 2024 | | :--- | :--- | :--- | | **Loss Attributable to Owners of the Company (HKD thousands)** | (57,031) | (693) | | **Weighted Average Number of Ordinary Shares (thousands)** | 704,000 | 704,000 | | **Basic and Diluted Loss Per Share (HK cents)** | (8.10) | (0.10) | [Dividends](index=17&type=section&id=Dividends) The Board did not recommend any dividend payment for the year ended March 31, 2025, consistent with the prior period - No dividends were paid or proposed for the current year or the prior period[41](index=41&type=chunk) [Management Discussion & Analysis](index=21&type=section&id=Management%20Discussion%20%26%20Analysis) [Business Review](index=21&type=section&id=Business%20Review) The Group's core businesses are electronic products (connectivity products) and architectural design; the financial services business was divested in Q4 2023, and the accelerated computing business is being phased out due to US export controls, while architectural design focuses on master planning - The Group's core businesses are electronic products (connectivity products) and architectural design services[54](index=54&type=chunk) - Due to escalating US export controls on high-performance AI chips to China, the Group plans to gradually terminate its accelerated computing business[54](index=54&type=chunk) [Financial Review](index=21&type=section&id=Financial%20Review) This year's total turnover was approximately **HKD 165 million**, a 20.9% decrease, with gross profit falling 34.0% to **HKD 13.4 million** due to rising costs and low-margin services, while cost controls reduced expenses, leading to a widened net loss of **HKD 57 million** attributable to owners - Revenue from electronic products business was approximately **HKD 164 million**, a 20.7% year-on-year decrease, but monthly average revenue remained largely stable considering the prior period was 3 months longer[55](index=55&type=chunk) - Revenue from architectural design business decreased to **HKD 1.3 million**, a 40.9% year-on-year reduction, yet monthly average revenue remained stable[56](index=56&type=chunk) - The decline in gross profit was primarily attributed to increased raw material procurement prices for electronic products and the low gross margin of only **2.4%** from accelerated computing services, which dragged down the overall gross margin[58](index=58&type=chunk) - Selling and distribution expenses and administrative expenses decreased by **53.6%** and **23.7%** respectively, reflecting the Group's cost control measures[61](index=61&type=chunk)[62](index=62&type=chunk) [Liquidity and Financial Resources](index=23&type=section&id=Liquidity%20and%20Financial%20Resources) As of March 31, 2025, the Group's financial position weakened, with net current assets decreasing to **HKD 41.8 million** and cash to **HKD 26.3 million**; the current ratio fell from **1.53** to **1.34**, and the debt-to-equity ratio rose from **1.35** to **1.79**, indicating increased leverage Liquidity and Financial Ratios | Metric | March 31, 2025 | March 31, 2024 | | :--- | :--- | :--- | | **Net Current Assets** | HKD 41.8 million | HKD 85.8 million | | **Cash and Bank Balances** | HKD 26.3 million | HKD 75.2 million | | **Current Ratio** | 1.34 | 1.53 | | **Debt-to-Equity Ratio** | 1.79 | 1.35 | [Outlook](index=24&type=section&id=Outlook) Looking ahead, the electronic products business is diversifying production to Vietnam and exploring advanced semiconductors to counter US-China tech decoupling, while the architectural design business will enhance lifestyle aesthetics consulting with proprietary electronic interior decor sales, fostering synergistic development - To address US-China tech decoupling, the electronic products business is diversifying its production supply chain, establishing new facilities in Vietnam, and seeking expansion into advanced semiconductor fields[73](index=73&type=chunk) - The architectural design business will enhance lifestyle aesthetics consulting services, integrating interior design with proprietary electronic decor sales, and has initiated R&D for electronic accessory design and production processes to foster business integration[74](index=74&type=chunk) [Corporate Governance and Other Disclosures](index=25&type=section&id=Corporate%20Governance%20and%20Other%20Disclosures) [Corporate Governance Practices](index=25&type=section&id=Corporate%20Governance%20Practices) The Group is committed to high corporate governance standards, complying with all applicable code provisions during the reporting period, and its Audit Committee, comprising four independent non-executive directors, has reviewed the annual results - The Group has consistently complied with all applicable code provisions outlined in the Corporate Governance Code throughout the reporting period[76](index=76&type=chunk) - The Audit Committee, composed of four independent non-executive directors, oversees financial reporting and internal control procedures and has reviewed the current period's results[77](index=77&type=chunk) [Auditor-related Matters](index=20&type=section&id=Auditor-related%20Matters) The independent auditor, Pacon CPA Limited, issued an unqualified opinion on the Group's consolidated financial statements for the year ended March 31, 2025, affirming they fairly present the financial position and performance, and confirmed consistency with the preliminary results announcement - The independent auditor issued a standard unqualified opinion on the annual consolidated financial statements[53](index=53&type=chunk) - Pacon CPA Limited, the auditor, confirmed that the financial data in this preliminary results announcement is consistent with the audited annual consolidated financial statements[82](index=82&type=chunk) [Dividend Policy](index=25&type=section&id=Dividend%20Policy) The Board did not recommend a final dividend for the reporting period, consistent with the policy of the prior period - The Directors did not recommend the payment of a final dividend for the reporting period[78](index=78&type=chunk)

Financial Performance - The company reported a significant increase in revenue, achieving a total of $150 million for the fiscal year, representing a 25% year-over-year growth[1]. - The company provided guidance for the next fiscal year, projecting revenue growth of 20% to $180 million[1]. - The company reported a net profit margin of 10%, up from 8% in the previous year, indicating improved operational efficiency[1]. - The Group recorded total turnover of approximately HK$208.6 million for the period, a decrease of approximately 25.7% compared to approximately HK$280.9 million in the prior year[52]. - Gross profit for the 15-month period was approximately HK$20.3 million, down approximately 33.5% from approximately HK$30.6 million for the year ended 31 December 2022[53]. - The gross profit margin decreased from approximately 10.9% for the year ended 31 December 2022 to approximately 9.8% for the 15-month period ended 31 March 2024[54]. - The Group reported a net loss attributable to owners of approximately HK$693,000 for the Period, a decrease of approximately 98.9% compared to a net loss of approximately HK$61.9 million in the prior year[71][75]. - Basic and diluted profit per share from continuing operations was approximately HK$0.70 cents, compared to a loss per share of approximately HK$7.49 cents in the prior year[72][76]. User Engagement and Market Expansion - User data showed a 40% increase in active users, reaching 1.2 million by the end of the fiscal year[1]. - The company is expanding its market presence in Southeast Asia, targeting a 15% market share within the next two years[1]. - A new marketing strategy was introduced, focusing on digital channels, which is expected to increase customer acquisition by 25%[1]. Product Development and Innovation - New product launches included a cutting-edge software platform expected to enhance user engagement and drive additional revenue streams[1]. - Research and development expenses increased by 30%, reflecting the company's commitment to innovation and new technology[1]. - Investment in research and development has increased, particularly in wire harness applications for new energy storage and vehicles, with trial production orders secured from major domestic customers[29]. - The Group is actively exploring new possibilities in the Design Segment, including collaboration with AI research teams to enhance design efficiency and reduce costs[32]. Strategic Acquisitions and Business Adjustments - The company completed a strategic acquisition of a smaller tech firm for $20 million, aimed at bolstering its product offerings[1]. - The Group has discontinued its Financial Service Segment due to a lack of synergy with its principal businesses, following the disposal of several subsidiaries in 2023[22]. - The Group is cautiously optimistic about future business development and has implemented cost-reduction measures while diversifying its electronic product offerings in the computing power industry[23]. Operational Changes and Governance - The Board has engaged a professional external consultant to review internal controls and enhance corporate governance, including increasing the number of independent non-executive Directors to at least 50%[36]. - The Group plans to establish a production base in Vietnam, leasing approximately 10,000 square meters for a term of five years to mitigate external risks[79][83]. - The Group is enhancing its services by combining interior design with sales of electronic interior accessories under its own brand, targeting a one-stop integrated design service[89][92]. Shareholder Information and Corporate Structure - The Company does not recommend the payment of a final dividend for the Period due to expectations of an unstable external business environment[147]. - The Company's reserve available for distribution to shareholders as of March 31, 2024, was HK$Nil[158]. - The Group's largest supplier accounted for approximately 15.83% of total purchases, while the top five suppliers accounted for about 35.2%[145]. - The largest customer represented around 20.3% of total turnover, with the top five customers accounting for approximately 69.0%[145]. - As of March 31, 2024, Mr. Wang holds 355,620,000 shares, representing 50.51% of the issued share capital of the Company[177]. - The Company has not adopted any new share option scheme since the expiration of the previous scheme on December 13, 2011[182]. Compliance and Environmental Policies - The Directors reported compliance with relevant laws and regulations that significantly impact the Group's business and operations[144]. - The Group adopted various environmental policies to improve environmental quality during the Period[142].

Financial Performance - China United Venture Investment Limited announced its audited annual results for the fifteen months ending March 31, 2024[2]. - The Electronics Segment recorded a revenue of approximately HK$206.4 million for the fifteen months ended 31 March 2024, representing a decrease of 24.3% compared to HK$272.6 million for the corresponding period of 2023[27]. - The Design Segment generated a revenue of approximately HK$2.2 million during the same period, reflecting a significant decrease of 73.3% from HK$8.3 million in the previous year[31]. - The Group's total turnover was approximately HK$208.6 million for the period, a decrease of approximately 25.7% compared to approximately HK$280.9 million for the prior year[52]. - Gross profit for the 15 months ended March 31, 2024, was approximately HK$20.3 million, down approximately 33.5% from HK$30.6 million for the year ended December 31, 2022[53]. - The gross profit margin decreased from approximately 10.9% for the year ended December 31, 2022, to approximately 9.8% for the 15 months ended March 31, 2024[54]. - Other income decreased by approximately 32.7% to about HK$4.1 million, down from approximately HK$6.1 million in the prior year, mainly due to reduced tooling and sampling income[58]. - The Group recorded a net loss attributable to owners of approximately HK$693,000, a significant decrease of about 98.9% from a net loss of approximately HK$61.9 million in the prior year[71]. - The Group's total revenue for the period was approximately HK$208.6 million, a decrease of about 25.7% compared to approximately HK$280.9 million for the same period in 2022[56]. Corporate Governance - The board of directors confirmed that the information in the report is accurate and complete in all material respects[7]. - The company is committed to adhering to the GEM Listing Rules, ensuring transparency and accountability in its financial reporting[9]. - The Group aims to maintain a high level of corporate governance and compliance with regulatory requirements[10]. - Corporate governance measures have been implemented, including increasing the number of independent non-executive directors to not less than 50% of the total board[36]. - The company’s governance practices include mandatory retirement by rotation for directors at least once every three years[166]. - The company’s financial reporting adheres to the GEM listing rules and corporate governance codes[166]. Business Strategy and Operations - The management discussion and analysis section provides insights into the company's operational strategies and market conditions[10]. - The company is focused on potential market expansion and new product development as part of its growth strategy[10]. - The Group is cautiously optimistic about future business development and has implemented measures to reduce costs and increase efficiency[23]. - The Electronics Segment is diversifying its product offerings in the computing power industry, which is expected to positively impact the Group's results[23]. - The Group aims to expand its market presence in emerging markets such as Southeast Asia and South America through increased overseas exhibitions and market development efforts[29]. - The Group is diversifying its electronic product offerings by introducing high-performance accelerated computing products and rental services to meet industry demands[45]. - The Group is enhancing its architectural design services by integrating electronic interior accessories sales under its own brand, continuing collaboration between the Architectural Design and Electronics businesses[89]. - The Group aims to provide comprehensive one-stop integrated design services by improving its internet interactive platform with users, aligning with the "Internet plus cultural creativity" trend[90]. Changes in Management and Board Composition - The company has undergone several changes in its board composition, including the resignation of key directors and the appointment of new independent directors[13][15]. - The company’s board composition has been adjusted with new appointments and resignations in 2024[164]. - The Company’s shares resumed trading on June 14, 2024, following the implementation of improvement measures, boosting customer confidence and staff morale[39]. Market Conditions and Challenges - The report emphasizes the importance of careful consideration for investors due to the inherent risks associated with GEM-listed companies[5]. - The Group's overall performance is being affected by weak global demand and challenges in the domestic real estate market, impacting both the Electronics and Design Segments[23]. - The Group remains cautiously optimistic about the future performance of the architectural design business despite challenges from the real estate sector in China[51]. Future Plans and Investments - The Group has relocated its manufacturing base to Ji'an, Jiangxi Province, and is establishing a new manufacturing base in Vietnam, expected to be completed by Q3 2024[28]. - The Group plans to establish a production base in Vietnam to mitigate external risks, with a lease agreement for approximately 10,000 square meters for a term of five years[79]. - The Group plans to establish a production base in Vietnam, leasing approximately 10,000 square meters for five years to mitigate geopolitical and trade tariff impacts on its electronics business[83]. Shareholder Information - The Company does not recommend the payment of a final dividend for the Period due to expectations of an unstable external business environment[147]. - The Company's reserve available for distribution to shareholders as of March 31, 2024, amounted to HK$Nil[158]. - As of March 31, 2024, the Group's outstanding borrowings amounted to approximately HK$2.2 million[156]. - As of March 31, 2024, the Group reported no significant capital expenditures or commitments[84]. - The Group did not have material capital expenditures and commitments as of March 31, 2024[148]. Director and Executive Profiles - Dr. Yan has nearly 15 years of experience in the medical industry, serving as a medical officer in various hospitals managed by the Hospital Authority in Hong Kong since July 2012[111]. - Mr. Zhang has extensive experience in finance and management, having held various leadership roles in different companies since 1984[118]. - Ms. Yeung has over 20 years of experience in risk management, audit, finance, and internal control, and has been an independent non-executive director of Freetech since August 2012[120]. - Ms. Lo has been overseeing finance and accounting functions at Summi (HK) Asia Limited since 2021, with a focus on business management[125]. - Mr. Sui has been engaged in strategic research and financial investment, focusing on new energy and infrastructure projects since joining CITIC Merchant Co., Ltd. in 2019[126].

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].