Financial Performance - Revenue decreased from approximately HK$51.7 million for the year ended March 31, 2022, to approximately HK$35.5 million for the year ended March 31, 2023, representing a decrease of approximately HK$16.2 million or 31.4%[24]. - Cost of services decreased from approximately HK$24.1 million in 2022 to approximately HK$21.3 million in 2023, a decrease of approximately HK$2.8 million or 11.8%[25]. - Gross profit for the year ended March 31, 2023, was approximately HK$14.2 million, down from approximately HK$27.6 million in 2022, a decrease of approximately HK$13.4 million[26]. - Overall gross profit margin decreased from approximately 53.4% in 2022 to approximately 40.1% in 2023[26]. - Profit before tax decreased from approximately HK$5.7 million in 2022 to a loss of approximately HK$2.8 million in 2023, a decrease of approximately HK$8.5 million[41]. - Total comprehensive income decreased by approximately HK$7.2 million, from approximately HK$4.2 million in 2022 to a loss of approximately HK$3.1 million in 2023[43]. - Administrative expenses decreased from approximately HK$21.1 million in 2022 to approximately HK$16.9 million in 2023, a decrease of approximately HK$4.2 million or 20%[34]. - Finance costs decreased by approximately HK$1.2 million or 98.2%, from approximately HK$1.2 million in 2022 to approximately HK$22,000 in 2023[35]. - The total comprehensive loss for the year ended 31 March 2023 was approximately HK$3.1 million, a decrease of about HK$7.2 million from a profit of approximately HK$4.2 million for the year ended 31 March 2022[47]. - As of 31 March 2023, the Group's total assets were approximately HK$56.4 million, down from approximately HK$59.1 million as of 31 March 2022[50]. - Cash and cash equivalents decreased to approximately HK$5.1 million as of 31 March 2023, compared to approximately HK$22.6 million as of 31 March 2022[50]. - The current ratio as of 31 March 2023 was approximately 3.8 times, down from approximately 5.4 times as of 31 March 2022[51]. Business Strategy and Growth - The Group aims to strengthen its overall competitiveness and business growth in the interior design industry in Hong Kong[18]. - The Group aims to achieve sustainable growth and strengthen its competitiveness in the Hong Kong interior design industry[88]. - The Group plans to maintain its market position in Hong Kong, enhance brand recognition, and continue recruiting talents to support future growth[96]. - The Group will remain cautiously attentive to market conditions due to the unpredictable macroeconomic environment[95]. - The Group has no concrete plans for material investments or capital assets for the coming year[84]. - The Group did not make any significant investments, acquisitions, or disposals during the year ended March 31, 2023, that would constitute a discloseable transaction under GEM Listing Rules[83]. Shareholder and Stakeholder Relations - The Company expresses gratitude to shareholders, business partners, and customers for their support and trust throughout the year[19]. - The Board does not recommend the payment of any dividend for the year ended March 31, 2023, consistent with the previous year[86]. Corporate Governance - The Group has complied with the corporate governance code provisions throughout the year ended March 31, 2023, with some deviations noted[100]. - The Board is responsible for overseeing the Group's business and strategic decisions, ensuring effective corporate governance practices are in place[117]. - The Board has established three committees: Audit Committee, Remuneration Committee, and Nomination Committee, each with defined terms of reference[182]. - The Board comprises five Directors, all of whom have served for 1 year[124]. - The Company has adopted a code of conduct for securities transactions by Directors, reminding them of the prohibition on dealing in listed securities during blackout periods four times a year[105]. - All Directors have complied with the required standard of dealings set out in the GEM Listing Rules during the year ended March 31, 2023[106]. - The Company has arranged appropriate liability insurance coverage for all Directors, which includes various risks such as regulatory crisis events and litigation[120]. - The Board leads the management in defining the purpose, values, and strategic direction of the Group, fostering a corporate culture that benefits all stakeholders[112]. - The Board has delegated various responsibilities to Board committees to enhance governance and oversight[118]. Diversity and Inclusion - Approximately 60% of Directors and 46% of the total workforce are male, indicating a focus on diversity[128]. - The Company has established a Board Diversity Guideline to enhance effectiveness through diversity considerations[125]. - The Nomination Committee reviews the Board Diversity Guideline periodically to ensure its effectiveness[127]. - The Company believes in meritocracy for Board appointments, considering various diversity factors[126]. - Selection of Board candidates considers various diversity factors, including gender, age, cultural background, and professional qualifications[199]. Risk Management - The Group's credit risk is managed through individual credit evaluations and regular reviews of recoverable amounts[68]. - The Group's liquidity policy involves regular monitoring of current and expected liquidity requirements to maintain sufficient cash reserves[69]. - The Company has not made any new insurance arrangements for potential legal actions faced by Directors and senior officers since January 8, 2022, but believes all claims can be effectively managed[107]. ESG Initiatives - The Group is increasingly conscious of ESG initiatives and is focusing on supporting the global low-carbon and sustainable future transition[113]. - The Group focuses on achieving sustainable growth in both financial and ESG performance, executing disciplined management of revenue, profitability, and investment returns[113].

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的內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部 或任何部份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。 Hephaestus Holdings Limited 客 思 控 股 有 限 公 司 （於開曼群島註冊成立之有限責任公司） （股份代號：8173） 截至二零二三年三月三十一日止年度之 全年業績公告 客思控股有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然公佈本公司及其附 屬公司（統稱為「本集團」）截至二零二三年三月三十一日止年度的經審核綜合年 度業績。本公告載列本公司截至二零二三年三月三十一日止年度的2022/23年報 （「2022/23年報」）全文，並符合香港聯合交易所有限公司GEM（「GEM」）證券上市 規則（「GEM上市規則」）有關年度業績初步公告隨附資料的相關規定。2022/23年 報的印刷版本將按GEM上市規則規定的方式適時寄發予本公司股東，並可於香 港聯合交易所有限公司網站www.hkexnews.hk及本公司網站www.hephaestus.com.hk 閱覽。 承董事會命 客 ...

Financial Performance - Revenue for the three months ended December 31, 2022, was HKD 8,126,000, a decrease of 35.5% compared to HKD 12,642,000 for the same period in 2021[5] - Gross profit for the nine months ended December 31, 2022, was HKD 10,312,000, down 47.5% from HKD 19,605,000 in the previous year[5] - Operating loss for the three months ended December 31, 2022, was HKD 775,000, compared to an operating profit of HKD 876,000 for the same period in 2021[5] - The net loss for the nine months ended December 31, 2022, was HKD 2,425,000, compared to a profit of HKD 2,252,000 in the previous year[5] - Basic loss per share for the three months ended December 31, 2022, was HKD (0.31), compared to earnings of HKD 0.04 for the same period in 2021[5] - Total comprehensive loss for the nine months ended December 31, 2022, was HKD 2,605,000, compared to total comprehensive income of HKD 2,252,000 in the previous year[5] - Revenue for the nine months ended December 31, 2022, was HKD 26,283,000, down 31.3% from HKD 38,267,000 in the previous year[12] - The company reported a loss attributable to owners of the company of HKD 660,000 for the three months ended December 31, 2022, compared to a profit of HKD 91,000 in the same period of 2021[20] - The company’s financial costs decreased significantly by approximately 98.6% from HKD 1.2 million for the nine months ended December 31, 2021, to about HKD 17,000 for the same period in 2022[40] Expenses - Administrative expenses for the nine months ended December 31, 2022, were HKD 13,473,000, a decrease of 15.2% from HKD 15,891,000 in the previous year[5] - The total employee benefits expenses for the nine months ended December 31, 2022, were HKD 18,273,000, a decrease of 8.4% from HKD 19,944,000 in the previous year[18] - Service costs for the nine months ended December 31, 2022, were approximately HKD 16.0 million, down about HKD 2.7 million or 14.4% from HKD 18.7 million in the same period of 2021[34] - The company incurred a tax expense of HKD 122,000 for Hong Kong profits tax for the three months ended December 31, 2022, compared to a tax expense of HKD 370,000 in the same period of 2021[15] - The company’s tax credit for the nine months ended December 31, 2022, was approximately HKD 97,000, a decrease of about HKD 977,000 from a tax expense of approximately HKD 880,000 in the prior year[42] Equity and Shares - The company’s total equity as of December 31, 2022, was HKD 45,243,000, a decrease from HKD 47,848,000 as of April 1, 2022[6] - The weighted average number of ordinary shares for calculating basic loss per share was 215,347,000 for the nine months ended December 31, 2022[20] - The company holds a total equity interest of 159,068,639 shares, representing 73.87% of the total issued shares as of December 31, 2022[50] - The company repurchased and canceled a total of 117,152,000 shares at a total cost of approximately HKD 10.886 million during the nine months ended December 31, 2021[25] Governance and Compliance - The board believes that maintaining high corporate governance standards is crucial for the group's sustainable growth, and has adopted the corporate governance code as per GEM Listing Rules[61] - The audit committee, consisting of three independent non-executive directors, oversees the company's financial reporting and internal control systems[69] - The unaudited financial results for the nine months ending December 31, 2022, have been approved by the audit committee, ensuring compliance with applicable accounting standards[70] - The company has adopted a code of conduct for securities trading by directors, confirming compliance with the GEM Listing Rules for the nine months ending December 31, 2022[60] Future Outlook and Strategy - The group aims for sustainable growth and to strengthen its competitiveness in the Hong Kong interior design industry[46] - The company believes that the Hong Kong residential market may be supported by relatively low mortgage rates and ongoing demand despite weak market sentiment[46] - The group plans to maintain and strengthen its market position in Hong Kong, enhance brand awareness, and continue talent recruitment and internal training to support future growth[46] - The group continues to monitor the global macroeconomic environment, particularly the ongoing impact of the COVID-19 pandemic[46] Acquisitions and Investments - The acquisition of 50% of the issued shares of Yuen Yat Investment Limited was completed for HKD 11,200,000, involving a property of approximately 13,939 square feet[56] - As of December 31, 2022, the company had no significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the nine months[58] - The company reported no buybacks or redemptions of its listed securities during the nine months ending December 31, 2022[59] Miscellaneous - The company did not recommend any dividend for the nine months ended December 31, 2022, consistent with the previous year[21] - The company has not granted, exercised, cancelled, or forfeited any share options during the nine months ending December 31, 2022[52] - The board consists of two executive directors and three independent non-executive directors as of the report date[71] - The company has not disclosed any significant matters that could severely impact its operations and financial performance after December 31, 2022[68] - The company has not made any new insurance arrangements for potential legal actions against its directors and senior officers since January 8, 2022[63] - The company entered into a lease agreement on January 1, 2023, for properties in Hong Kong, with a total annual cap of HKD 3,516,000 for the fiscal year ending March 31, 2024[68]

Hephaestus Holdings Limited 客思控股有限公司 ( 於開曼群島註晉成立之有限責任公司) (限份代號:8173) 2 香港聯合交易所有限公司（「聯交所」）GEM的特色 GEM的定位，乃為中小型公司提供一個上市的市場，此等公司相比起其他在聯交所上市的 公司帶有較高投資風險。有意投資的人士應瞭解投資於該等公司的潛在風險，並應經過審 慎周詳的考慮後方作出投資決定。 由於GEM上市公司普遍為中小型公司，在GEM買賣的證券可能會較於主板買賣之證券承受 較大的市場波動風險，同時無法保證在GEM買賣的證券會有高流通量的市場。 香港交易及結算所有限公司及聯交所對本報告之內容概不負責，對其準確性或完整性亦 不發表任何聲明，並明確表示不會就本報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。 本報告乃遵照聯交所GEM證券上市規則（「GEM上市規則」）之規定而提供有關客思控股有 限公司（「本公司」，連同其附屬公司統稱「本集團」）之資料。本公司董事（「董事」，各為「董 事」）願就本報告所載內容共同及個別承擔全部責任，且在作出一切合理查詢後確認，就彼 等所深知及確信，本報告所載資料在各 ...

Hephaestus Holdings Limited 客思控股有限公司 ( 於開曼群島註晉成立之有限責任公司) (限份代號:8173) 香港聯合交易所有限公司（「聯交所」）GEM的特色 GEM的定位，乃為中小型公司提供一個上市的市場，此等公司相比起其他在聯交所上市的 公司帶有較高投資風險。有意投資的人士應瞭解投資於該等公司的潛在風險，並應經過審 慎周詳的考慮後方作出投資決定。 由於GEM上市公司普遍為中小型公司，在GEM買賣的證券可能會較於主板買賣之證券承受 較大的市場波動風險，同時無法保證在GEM買賣的證券會有高流通量的市場。 香港交易及結算所有限公司及聯交所對本報告之內容概不負責，對其準確性或完整性亦 不發表任何聲明，並明確表示不會就本報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。 本報告的資料乃遵照聯交所GEM證券上市規則（「GEM上市規則」）而刊載，旨在提供有關 客思控股有限公司（「本公司」，連同其附屬公司統稱「本集團」）之資料。本公司各董事（「董 事」）願就本報告的資料共同及個別承擔全部責任。各董事在作出一切合理查詢後，確認就 彼等所知及所信，本報告所載資料在各重大方 ...

Hephaestus Holdings Limited 客思控股有限公司 (Incorporated in the Cayman Islands with limited liability) ( 於同曼群島註冊成立之有限責任公司) (Stock Code 股份代號:8173) CHARACTERISTICS OF GEM OF THE STOCK EXCHANGE OF HONG KONG LIMITED (THE "STOCK EXCHANGE") GEM has been positioned as a market designed to accommodate small and mid-sized companies to which a higher investment risk may be attached than other companies listed on the Stock Exchange. Prospective investors should be aware of the potential risks of investing in such companies ...

Financial Performance - Revenue for the third quarter reached HKD 12,642,000, an increase of 17.3% compared to HKD 10,780,000 in the same period last year[10] - Gross profit for the third quarter was HKD 6,611,000, up 50.3% from HKD 4,399,000 year-on-year[10] - Operating profit for the third quarter was HKD 876,000, a decrease of 5.4% from HKD 926,000 in the previous year[10] - The net profit for the third quarter was HKD 91,000, down 83.1% from HKD 537,000 in the same quarter last year[10] - Basic earnings per share for the third quarter were HKD 0.04, compared to HKD 0.22 in the previous year[10] - Total comprehensive income for the nine months ended December 31 was HKD 2,252,000, down 64.4% from HKD 6,328,000 year-on-year[10] - For the nine months ended December 31, 2021, the group's revenue was HKD 38,267,000, a decrease of 2.2% from HKD 39,129,000 in the previous year[19] - The group reported a profit attributable to owners of the company of HKD 91,000 for the three months ended December 31, 2021, compared to HKD 537,000 for the same period in 2020, representing a decline of 83.1%[25] - The basic earnings per share for the nine months ended December 31, 2021, was HKD 9.93, down from HKD 25.93 in the same period of 2020[25] - Profit before tax decreased from approximately HKD 7.0 million to approximately HKD 3.1 million, a decline of about HKD 3.9 million or 55.0%[47] - Total comprehensive income decreased from approximately HKD 6.3 million to approximately HKD 2.2 million, a reduction of about HKD 4.1 million[50] Expenses and Costs - Administrative expenses for the third quarter increased to HKD 5,719,000, compared to HKD 4,803,000 in the same period last year, reflecting a rise of 19.1%[10] - The group incurred finance costs of HKD 415,000 for the three months ended December 31, 2021, a slight decrease from HKD 432,000 in the same period of 2020[20] - The income tax expense for the nine months ended December 31, 2021, was HKD 880,000, an increase of 31.1% from HKD 670,000 in the previous year[22] - The group reported a decrease in employee benefit expenses to HKD 6,250,000 for the three months ended December 31, 2021, from HKD 6,797,000 in the same period of 2020[23] - Service costs decreased from approximately HKD 19.8 million to approximately HKD 18.7 million, a reduction of about HKD 1.1 million or 5.8%[40] - Administrative expenses increased from approximately HKD 15.3 million to approximately HKD 15.9 million, an increase of about HKD 0.6 million or 3.7%[45] - Other income significantly decreased from approximately HKD 3.7 million to HKD 0.6 million, a decline of about HKD 3.1 million, primarily due to the absence of government subsidies received in the prior year[42] Corporate Governance and Compliance - The financial data is prepared in accordance with the GEM Listing Rules, ensuring compliance and transparency in reporting[16] - The group has adopted new and revised Hong Kong Financial Reporting Standards effective from April 1, 2021, with no significant impact on the financial results for the nine months ended December 31, 2021[18] - The company has complied with the GEM Listing Rules regarding the code of conduct for securities transactions by directors[67] - The company believes that maintaining high levels of corporate governance is essential for its continued growth[68] - The audit committee has been established to oversee the company's relationship with auditors and review financial information, consisting of three independent non-executive directors[76] - The unaudited consolidated financial information for the nine months ended December 31, 2021, has been approved by the audit committee, ensuring compliance with applicable accounting standards and GEM listing rules[76] Market Strategy and Future Outlook - The company is focused on expanding its market presence and enhancing its service offerings in the interior design sector[15] - The group aims for sustainable growth and to strengthen its competitiveness in the Hong Kong interior design industry[52] - The company believes that the Hong Kong residential market may be supported by relatively low mortgage rates and ongoing demand despite weak market sentiment[52] - The group plans to maintain and solidify its market position in Hong Kong, enhance brand awareness, and strengthen marketing efforts[52] Shareholder Information - As of December 31, 2021, the major shareholder, Jun Tai Ting Investment, holds 158,947,368 shares, representing 73.81% of the total issued share capital[55] - The total consideration for the acquisition of shares by Jun Tai Ting Investment was HKD 73,810,000, equivalent to approximately HKD 0.4644 per share[57] - The company has a total issued share capital of 215,346,526 shares as of December 31, 2021, following a share consolidation[29] - The total number of ordinary shares issued by the company as of the report date is 215,346,526 shares[65] - The company repurchased a total of 110,360,000 ordinary shares with a par value of HKD 0.0001 during the nine months ended December 31, 2021[64] - The company has repurchased a total of 110,360,000 shares at a cost of HKD 10,885,340 during the nine months ended December 31, 2021[65] - The highest repurchase price per share was HKD 0.480, while the lowest was HKD 0.042[65] - The group did not recommend any dividend for the nine months ended December 31, 2021, consistent with the previous year[27] - The company does not recommend any dividend payment for the nine months ended December 31, 2021[69] Lease Agreements - The company has entered into a lease agreement for a property in Hong Kong with a total annual cap of HKD 4,011,000 for the year ended March 31, 2022[72] - The annual cap for the lease agreement for the year ended March 31, 2023, is set at HKD 2,637,000[72] Miscellaneous - The group had no asset pledges as of December 31, 2021[51] - There are no significant matters known to the directors that would severely impact the group's operations and financial performance after December 31, 2021[74] - The company has not engaged in any trading or redemption of its listed securities during the nine months ended December 31, 2021[65] - The board of directors comprises two executive directors and three independent non-executive directors as of February 10, 2022[77]

Financial Performance - Revenue for the six months ended September 30, 2021, was HKD 25,625,000, a decrease of 9.6% compared to HKD 28,349,000 for the same period in 2020[22] - Gross profit for the six months ended September 30, 2021, was HKD 12,994,000, down 13.0% from HKD 14,910,000 in the previous year[22] - Operating profit for the six months ended September 30, 2021, was HKD 3,446,000, a decline of 53.3% compared to HKD 7,386,000 for the same period in 2020[22] - Profit before tax for the six months ended September 30, 2021, was HKD 2,671,000, down 58.7% from HKD 6,469,000 in the previous year[22] - Total comprehensive income for the period was HKD 2,161,000, a decrease of 62.7% compared to HKD 5,791,000 for the same period in 2020[22] - Basic earnings per share for the six months ended September 30, 2021, was 0.93 HK cents, down from 2.37 HK cents in the previous year[22] Expenses and Costs - Administrative expenses for the six months ended September 30, 2021, were HKD 10,172,000, a decrease of 3.3% compared to HKD 10,517,000 in the previous year[22] - Other income for the six months ended September 30, 2021, was HKD 592,000, down 75.5% from HKD 2,413,000 in the previous year[22] - Financial costs for the six months ended September 30, 2021, were HKD 775,000, a decrease of 15.5% compared to HKD 917,000 in the previous year[22] - Service costs for the six months ended September 30, 2021, were approximately HKD 12.6 million, a decrease of about HKD 0.8 million or 6.0% compared to HKD 13.4 million for the same period in 2020[101] Assets and Liabilities - As of September 30, 2021, total non-current assets decreased to HKD 10,994,000 from HKD 13,357,000 as of March 31, 2021, representing a decline of approximately 17.7%[24] - Current assets totaled HKD 69,943,000, down from HKD 100,365,000, indicating a decrease of about 30.3%[24] - Total liabilities decreased from HKD 58,121,000 to HKD 32,990,000, reflecting a reduction of approximately 43.2%[24] - The company reported a total equity of HKD 47,175,000 as of September 30, 2021, down from HKD 54,637,000, marking a decline of about 13.7%[25] - Cash and cash equivalents decreased by HKD 20,828,000, from HKD 64,240,000 to HKD 43,412,000, representing a decline of approximately 32.5%[29] - The company incurred a share buyback payment of HKD 9,580,000 during the reporting period[29] Revenue Breakdown - Revenue from interior design and execution services for the three months ended September 30, 2021, was HKD 11,600 thousand, down from HKD 12,236 thousand in the same period of 2020, a decline of about 5.2%[47] - The group’s revenue from Hong Kong for the six months ended September 30, 2021, was HKD 23,659 thousand, down from HKD 25,367 thousand in the same period of 2020, indicating a decrease of about 6.7%[50] - Revenue from Japan and Macau increased to HKD 1,151,000 for the six months ended September 30, 2021, compared to HKD 236,000 in 2020[55] Shareholder Information - The total number of shares repurchased during the six months ended September 30, 2021, was 114,432,000 shares, with a total cost of approximately HKD 9,580 thousand[84] - The company approved a share consolidation on August 31, 2021, merging every five shares of HKD 0.0001 into one share of HKD 0.0005, effective from September 2, 2021[86] - The total number of shares in treasury as of September 30, 2021, was 4,384,000 shares, with a value of HKD 1,621 thousand[88] - Whistle Up Limited, controlled by Mr. Chan, holds 158,947,368 shares, representing 71.45% of the total equity[130] - The company's share repurchase program resulted in the buyback of 108,800,000 shares, which were subsequently canceled on July 19, 2021[126] Corporate Governance - The company has maintained high corporate governance standards, adhering to the GEM Listing Rules[143] - The audit committee has reviewed the unaudited interim financial information for the six months ending September 30, 2021, and found it compliant with applicable accounting standards[148] - The company has adopted a code of conduct for securities trading by directors, which complies with GEM Listing Rules[141] Future Outlook - The company has not disclosed any specific future outlook or guidance in the provided content[22] - The company has no significant future plans for major investments or capital assets as of September 30, 2021[120] - No significant events affecting the group's operations and financial performance have been disclosed since September 30, 2021[150]

業績報告 2021/22 ( 的閱曼群岛註回成立之有限責任公司) (股份代號: 8173) UNION ASIA Enterprise Holdings Ltd 萬亞企業控股有限公司 香港聯合交易所有限公司（「聯交所」）GEM的特色 GEM的定位，乃為中小型公司提供一個上市的市場，此等公司相比起其他在聯交所上市的 公司帶有較高投資風險。有意投資的人士應瞭解投資於該等公司的潛在風險，並應經過審 慎周詳的考慮後方作出投資決定。 由於GEM上市公司普遍為中小型公司，在GEM買賣的證券可能會較於主板買賣之證券承受 較大的市場波動風險，同時無法保證在GEM買賣的證券會有高流通量的市場。 香港交易及結算所有限公司及聯交所對本報告之內容概不負責，對其準確性或完整性亦 不發表任何聲明，並明確表示不會就本報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。 本報告乃遵照聯交所GEM證券上市規則（「GEM上市規則」）之規定而提供有關萬亞企業控 股有限公司（「本公司」）之資料。本公司各董事（「董事」）願就本報告所載內容共同及個別承 擔全部責任，且在作出一切合理查詢後確認，就彼等所深知及確信，本報告所載資料在 ...

202 07 21 UNION ASIA ENTERPRISE HOLDINGS LTD 萬亞企業控股有限公司 (Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立之有限責任公司) (Stock Code 股份代號:8173) CHARACTERISTICS OF GEM OF THE STOCK EXCHANGE OF HONG KONG LIMITED (THE "STOCK EXCHANGE") GEM has been positioned as a market designed to accommodate small and mid-sized companies to which a higher investment risk may be attached than other companies listed on the Stock Exchange. Prospective investors should be aware of the potential risks of investing ...