KAISUN HOLDINGS LIMITED 凱順控股有限公司* (Incorporated in the Cayman Islands with limited liability) Stock Code : 8203 2021 * For identification purpose only KAISUN HOLDINGS LIMITED 凱順控股有限公司* （於開曼群島註冊成立之有限公司） 股份代號 : 8203 2021 * 僅供識別 第三季度業績報告 THIRD QUARTERLY REPORT 香港聯合交易所有限公司（「聯交所」）GEM之特色 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主板上市的 公司帶有較高投資風險。有意投資的人士應了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，概不 ...

Financial Performance - Revenue for the six months ended June 30, 2021, was HKD 46,606,000, a decrease of 10.2% compared to HKD 51,384,000 in 2020[11] - Gross profit for the same period was HKD 5,384,000, down from HKD 4,887,000 in 2020, reflecting a decline in profitability[11] - The operating loss for the six months ended June 30, 2021, was HKD 20,897,000, a 43.7% improvement from a loss of HKD 37,088,000 in 2020[8] - The net loss attributable to the owners of the company for the six months was HKD 19,990,000, compared to HKD 29,073,000 in 2020, indicating a 31.5% reduction in losses[13] - The total comprehensive loss for the six months was HKD 19,316,000, compared to HKD 32,884,000 in 2020, reflecting a reduction in overall losses[15] - The basic loss per share for the six months was HKD 3.47, an improvement from HKD 5.04 in the same period of 2020[13] - The total loss for the six months ended June 30, 2021, was HKD 22,026,000, compared to a loss of HKD 31,204,000 for the same period in 2020, indicating a reduction in losses by about 29%[53] - The group incurred a total loss of approximately HKD 22 million for the six months ended June 30, 2021, a decrease of about 29.5% from HKD 31.2 million in the same period of 2020[124] Revenue Breakdown - The revenue breakdown for 2021 showed that supply chain management services contributed 25%, corporate services 12%, mining and metallurgical machinery products 50%, and media services and esports events 13%[10] - For the six months ended June 30, 2021, revenue from external customers was HKD 46,606,000, a significant increase from HKD 12,227,000 for the same period in 2020, representing a growth of approximately 282%[53] - The management services segment generated revenue of HKD 31,631 thousand for the six months ended June 30, 2021, compared to HKD 3,094 thousand in the same period of 2020, reflecting an increase of about 920%[46] - The company’s revenue from mining and metallurgy machinery services for the six months ended June 30, 2021, was HKD 8,790 thousand, compared to HKD 6,068 thousand in the same period of 2020, marking an increase of approximately 45%[46] - The group’s sales revenue for Tengzhou Kaiyuan in the second quarter was approximately HKD 8,789,000, reflecting a recovery in operations as the pandemic situation improved in Shandong[85] Assets and Liabilities - As of June 30, 2021, the total assets amounted to HKD 234,691 thousand, a slight decrease from HKD 239,811 thousand as of December 31, 2020[16] - The total liabilities increased to HKD 235,093 thousand as of June 30, 2021, from HKD 206,336 thousand as of December 31, 2020, reflecting a rise of approximately 13.9%[18] - The net current liabilities stood at HKD (108,347) thousand, worsening from HKD (92,357) thousand as of December 31, 2020[18] - The company reported a net cash inflow from operating activities of HKD 5,486 thousand for the six months ended June 30, 2021, compared to HKD 1,237 thousand for the same period in 2020, indicating a significant improvement[24] - The company’s total liabilities as of June 30, 2021, were HKD 282,652,000, compared to HKD 119,988,000 as of June 30, 2020, reflecting a significant increase in liabilities[53] Cash Flow and Investments - The company reported a cash outflow from financing activities of HKD (1,291) thousand for the six months ended June 30, 2021, compared to an inflow of HKD 5,451 thousand for the same period in 2020[24] - The company’s cash and cash equivalents increased to HKD 29,646 thousand as of June 30, 2021, up from HKD 24,331 thousand at the end of 2020, representing a growth of 21.5%[16] - The group held financial assets at fair value through profit or loss amounting to approximately HKD 24.6 million, all invested in listed securities in Hong Kong[128] - The group realized a gain of approximately HKD 1.7 million from the sale of financial assets at fair value through profit or loss, compared to a gain of HKD 0.934 million for the same period in 2020[128] - The group’s investment in Bilibili Inc. (9888) showed an unrealized gain of HKD 8.88 million, while the investment in HSBC Holdings (0005) recorded an unrealized gain of HKD 82,000[128] Corporate Governance and Compliance - The Audit Committee, consisting of two independent non-executive directors, reviewed the unaudited interim results for the six months ending June 30, 2021, and confirmed compliance with applicable accounting standards and legal requirements[170] - The company has adopted a code of conduct for securities trading by directors, ensuring compliance with the GEM Listing Rules[171] - The board has conducted a review of the effectiveness of the group's risk management and internal control systems, concluding they are effective and appropriate[174] - Following the resignation of an independent non-executive director on August 1, 2021, the number of independent non-executive directors fell below the required minimum of three[175] - The company is committed to identifying suitable candidates to meet the GEM Listing Rules requirements within three months of the resignation[175] Future Plans and Market Outlook - The company plans to focus on expanding its market presence and enhancing its service offerings in the coming periods[11] - The group anticipates an increase in domestic coal machinery demand following the easing of production restrictions post the Chinese Communist Party centenary celebrations[82] - The company plans to expand its operations in Shandong, anticipating a significant increase in coal trade volume in the second half of the year due to market activity[108] - The company is actively discussing the acquisition of the railway logistics center in Mongolia to enhance its supply chain management services[102] - The group aims to continue developing online business and expanding service offerings to existing clients in the second half of the year[117]

KAISUN HOLDINGS LIMITED 凱順控股有限公司* (Incorporated in the Cayman Islands with limited liability) Stock Code : 8203 FIRST QUARTERLY REPORT KAISUN HOLDINGS LIMITED 凱順控股有限公司* （於開曼群島註冊成立之有限公司） 股份代號 : 8203 第一季度業績報告 2021 2019年新型冠狀病毒 COVID-19 2021 * 僅供識別 * For identification purpose only 凱順控股有限公司 二零二一年第一季度業績報告 1 香港聯合交易所有限公司（「聯交所」）GEM之特色 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主板上市的 公司帶有較高投資風險。有意投資的人士應了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 ...

Financial Performance - Total revenue for 2020 was HKD 35,958,000, a significant decline compared to previous years[13] - The company reported a loss before tax of HKD (69,705,000) and a profit tax credit of HKD 5,438,000[13] - The equity attributable to owners of the company decreased to HKD 75,151,000 from HKD 125,312,000, a decline of approximately 40%[14] - The group's revenue for the year ended 2020 was approximately HKD 36 million, a decrease of about 74% compared to HKD 138.6 million in 2019[71] - Gross profit for the year ended 2020 decreased by approximately 38.8% to HKD 13.4 million, down from HKD 21.9 million in 2019[71] - The group's loss from continuing operations for the year ended 2020 was approximately HKD 64.3 million, compared to a loss of HKD 325.1 million in 2019[72] - The loss attributable to the company's owners for the year ended 2020 was approximately HKD 50.3 million, down from HKD 323.8 million in 2019[73] - The fair value loss of financial assets measured at fair value through profit or loss for the year ended 2020 was approximately HKD 18.1 million, compared to a loss of HKD 24.5 million in 2019[75] - The decrease in revenue and gross profit was primarily due to the operational disruptions caused by the COVID-19 outbreak in early 2020[71] Assets and Liabilities - The total assets increased to HKD 353,790,000 from HKD 340,886,000 in 2019, indicating a growth of approximately 2.6%[14] - Total liabilities rose to HKD (255,690,000) from HKD (181,709,000) in 2019, reflecting an increase of about 40.6%[14] - As of December 31, 2020, the group's bank and cash balance was approximately HKD 24.3 million, down from HKD 27.5 million in 2019[89] - The capital debt ratio as of December 31, 2020, was 0.14, slightly down from 0.15 in 2019[91] Economic Impact - The economic contraction due to COVID-19 led to a global economic decline of 5.6%, impacting emerging markets and developing economies[16] - In 2020, Hong Kong's economy contracted by 6.1%, marking the largest annual decline on record[20] - The unemployment rate surged to 6.6% in Q4 2020, the highest in 16 years, with an annual average of 5.9%[20] - The number of inbound tourists to Hong Kong fell to 3.57 million in 2020, a decline of 93.6%[20] - China was the only major economy to achieve growth in 2020, with a year-on-year increase of 2.3% attributed to a recovery in domestic economic activities in Q4[16] Strategic Focus - The company had to withdraw from operations in several countries due to travel restrictions and the pandemic, focusing on its presence in mainland China[16] - The group plans to focus on mainland China operations, anticipating improved cash flow from the Xinjiang mining project in Q2 2021[17] - The company anticipates that global attention will continue to focus on the Chinese market, which is expected to maintain its growth momentum[16] Investments and Market Developments - The International Monetary Fund forecasts a global economic growth of 5.5% in 2021, with an expected 120 to 130 companies to list in Hong Kong, raising over HKD 400 billion[22] - In 2020, 154 new companies were listed in Hong Kong, raising nearly HKD 397.7 billion, a 26% increase from 2019[22] - The group is transitioning to a "cloud business" model to adapt to the new normal and has successfully reduced administrative expenses[21] - The company plans to expand its vegetable sector and improve facilities at its Yunnan vegetable planting base[60] Operational Changes - The company actively pursued accounts receivable recovery in Q4 2020 to enhance liquidity and alleviate cash flow pressure[29] - The group plans to operate a full-cover environmental expansion storage center in Shandong in Q1 2021[54] - The company plans to commence operations of the expanded Dongyue platform in Q1 2021, enhancing storage capacity and environmental standards[34] Governance and Compliance - The company confirmed compliance with relevant laws and regulations that significantly impact its operations[121] - The company’s financial risk management objectives and policies are detailed in the consolidated financial statements[120] - The company has complied with most of the corporate governance code provisions as per GEM listing rules[168] - The board consists of six members, including two executive directors and four independent non-executive directors, with independent directors making up two-thirds of the board[191] Shareholder Information - As of December 31, 2020, the total number of shares held by the largest shareholder, Chen Liji, is 167,263,298, representing approximately 29.01% of the total issued shares[148] - The second largest shareholder, Zhang Xiongfeng, holds 81,950,000 shares, which is about 14.21% of the total issued shares[153] - The company has a structured share incentive plan, with shares awarded to directors under various plans since 2013[149] Employee and Operational Metrics - The total employee cost for the year was approximately HKD 23.8 million, compared to HKD 26.9 million in 2019[96] - The group employed 117 staff members as of December 31, 2020, a decrease from 123 in 2019[95] - The board held 15 meetings in 2020, demonstrating a high attendance rate among directors[198]

Financial Performance - Total revenue for 2019 was HKD 138,566,000, a decrease of 5.3% from HKD 146,100,000 in 2018[11] - The company reported a loss attributable to owners of the company of HKD 318,130,000 in 2019, compared to a profit of HKD 10,510,000 in 2018[11] - Gross profit for the year ended 2019 decreased by approximately 33.84% to HKD 21.9 million, down from HKD 33.1 million in 2018, primarily due to a significant drop in high-margin enterprise service revenue[87] - The group reported a loss from continuing operations of approximately HKD 325.1 million for the year ended 2019, compared to a profit of HKD 9 million in 2018[88] - The total loss for the year ended 2019 was approximately HKD 328.5 million, compared to a loss of HKD 5 million in 2018[88] - The loss attributable to the company's owners for the year ended 2019 was approximately HKD 323.8 million, compared to a profit of HKD 10 million in 2018[89] Assets and Liabilities - Total assets decreased to HKD 340,886,000 in 2019 from HKD 665,872,000 in 2018, representing a decline of 48.9%[11] - Total liabilities increased to HKD 181,710,000 in 2019 from HKD 166,475,000 in 2018, an increase of 9.4%[11] - As of December 31, 2019, the group held financial assets at fair value through profit or loss amounting to approximately HKD 52.5 million, all invested in listed securities in Hong Kong[91] - The group's financial assets at fair value through profit or loss represented approximately 32.97% of the group's net asset value as of December 31, 2019[91] Economic and Operational Challenges - The company experienced significant challenges due to social unrest in Hong Kong, impacting its business operations and new ventures in the latter half of 2019[14] - The company noted that the global economic uncertainty in 2019 led to a slowdown in emerging markets, particularly affecting infrastructure-related growth[14] - The company faced reduced support from financial institutions due to its focus on commodity trading in the "Belt and Road" regions[14] - The COVID-19 pandemic significantly disrupted the company's operations, halting business development plans and affecting annual audit work for the first time in 35 years[15] - The company highlighted a lack of new business opportunities in the third and fourth quarters of 2019 due to the prevailing economic conditions[14] Tax and Expenses - The company reported a tax expense of HKD 339,491,000 in 2019, compared to a tax credit of HKD 7,159,000 in 2018[11] - The total administrative and other operating expenses for the year ended 2019 were approximately HKD 70.9 million, an increase of about 4.88% from HKD 67.6 million in 2018, mainly due to increased depreciation of right-of-use assets[87] Business Strategy and Developments - The company is focusing on restoring and enhancing energy-related businesses and transitioning from offline to online services[21] - The company is actively pursuing the sale of a significant portion of its Hong Kong stock investments as part of its exit strategy[25] - The company aims to establish long-term partnerships with potential clients, such as power plants, to stabilize revenue sources[68] - The company plans to enhance its agricultural business segments by increasing sales of tea, dried fruits, and health-related products, establishing a one-stop supply platform for each segment[72] - The company is preparing to launch "zero residue" organic vegetables in the local market, promoting the concept of "safe vegetables"[71] Employee and Governance - The total employee cost, including director remuneration, was approximately HKD 26.9 million for the year, slightly down from HKD 27.07 million in 2018[108] - The group employed 123 staff members as of December 31, 2019, compared to 122 in 2018[107] - The board consists of independent non-executive directors with significant expertise in finance and corporate governance[119][120] - The company has complied with most of the corporate governance code provisions as of December 31, 2019[178] Shareholder Information - The company reported that as of December 31, 2019, the total number of shares held by Chen Libo was 167,263,298, representing approximately 29.01% of the total issued shares[160] - Major shareholders include Chen Libo and Yang Baoyi, each holding 167,263,298 shares, which is approximately 29.01% of the total issued shares[165] - The company has no significant contracts with directors that are not terminable within one year without compensation[155] Future Outlook - The management anticipates a challenging road ahead but believes that prior cost reductions will ease the situation[26] - The company aims to explore more opportunities along the Belt and Road to mitigate potential impacts from the slowing Chinese economy[83] - The investment strategy for 2020 includes adjusting target sell prices downward while maintaining a diversified portfolio[85]

KAISUN HOLDINGS LIMITED 凱順控股有限公司* (Incorporated in the Cayman Islands with limited liability) Stock Code : 8203 THIRD QUARTERLY REPORT KAISUN HOLDINGS LIMITED 凱順控股有限公司* （於開曼群島註冊成立之有限公司） 股份代號 : 8203 新型冠狀病毒 COVID-19 2020 2020 第三季度業績報告 * For identification purpose only * 僅供識別 香港聯合交易所有限公司（「聯交所」）GEM之特色 GEM之定位，乃為相比其他在聯交所上市之公司帶有更高投資風險之公司提供一個上 市之市場。有意投資者應瞭解投資於該等公司之潛在風險，並應經過審慎周詳考慮後方 作出投資決定。GEM之較高風險及其他特色表示創業板較適合專業及其他資深投資者。 由於GEM上市公司之新興性質所然，在GEM買賣之證券可能會較於主板買賣之證券承 受較大之市場波動風險，同時無法保證在GEM買賣的證券會有高流通量之市場。 香港交易及結算所有限公司及香港聯合交 ...

Financial Performance - Revenue for the six months ended June 30, 2020, was HKD 12,227 thousand, a decrease of 88.06% compared to HKD 102,382 thousand in 2019[6] - Gross profit for the same period was HKD 4,887 thousand, down 61.60% from HKD 12,728 thousand in 2019[7] - Loss from continuing operations for the six months was HKD 44,075 thousand, a reduction of 27.22% compared to HKD 60,560 thousand in 2019[8] - The company reported a total loss of HKD 38,515 thousand for the six months, down 35.32% from HKD 59,550 thousand in 2019[12] - Basic loss per share for the six months was HKD 6.68, compared to HKD 10.33 in 2019[14] - Total comprehensive income for the six months ended June 30, 2020, was HKD 44,173,000, down from HKD 68,806,000 in 2019, indicating a decrease of 35.9%[16] - The company reported a loss of HKD 38,515,000 for the six months ended June 30, 2020, compared to a loss of HKD 59,550,000 for the same period in 2019, representing a 35.3% improvement[16] - The company reported a segment loss of HKD 33,810,000 for the first half of 2020, compared to a loss of HKD 53,157,000 in the same period of 2019, indicating a 36.5% reduction in losses[71] - The total loss for the reporting period was HKD 38,515,000, a decrease from HKD 59,550,000 in the previous year, representing a 35.3% improvement[71] Revenue Breakdown - The media services and esports events segment contributed 13% to total revenue, while the mining and metallurgy machinery products segment accounted for 50%[10] - The company experienced a significant decline in revenue from supply chain management services, which dropped to 25% from 82% in the previous year[10] - Revenue from the mining and metallurgical machinery products for the six months ended June 30, 2020, was HKD 6,068,000, down from HKD 11,137,000 in the same period of 2019, a decrease of about 45.5%[60] - Revenue from supply chain management services for the six months ended June 30, 2020, was HKD 3,094,000, compared to HKD 83,691,000 in the same period of 2019, indicating a significant decline of approximately 96.3%[60] - Total revenue for the six months ended June 30, 2020, was HKD 12,227,000, down from HKD 102,382,000 in the same period of 2019, reflecting a decrease of about 88.0%[60] Assets and Liabilities - Non-current assets decreased to HKD 202,941,000 as of June 30, 2020, from HKD 216,106,000 at the end of 2019, a decline of 6.1%[18] - Current liabilities increased to HKD 192,114,000 as of June 30, 2020, compared to HKD 154,982,000 at the end of 2019, an increase of 24.0%[22] - The company's total assets less current liabilities stood at HKD 195,174,000 as of June 30, 2020, down from HKD 238,783,000 at the end of 2019, a decline of 18.2%[22] - The company’s equity attributable to owners decreased to HKD 129,411,000 as of June 30, 2020, from HKD 171,453,000 at the end of 2019, a decrease of 24.6%[22] - The total accounts receivable amounted to HKD 46,792,000, with HKD 15,728,000 overdue between 90 days to 1 year and HKD 22,806,000 overdue for more than 1 year[89] - The total accounts payable as of June 30, 2020, was HKD 3,672,000, with HKD 2,105,000 overdue within 30 days and HKD 666,000 overdue for more than 1 year[91] Cash Flow and Financing - The net cash generated from operating activities was HKD 2,818,000 for the six months ended June 30, 2020, down from HKD 37,726,000 in 2019, a decrease of 92.5%[28] - Cash and cash equivalents at the end of June 30, 2020, were HKD 26,816,000, significantly lower than HKD 63,174,000 at the end of June 30, 2019, a decrease of 57.5%[28] - The company reported a net cash inflow from financing activities of HKD 5,451,000 for the six months ended June 30, 2020, compared to HKD 11,780,000 in 2019, a decrease of 53.7%[28] Operational Environment - The unemployment rate in Hong Kong reached 5.9% in the first quarter of 2020, the highest in over 15 years, impacting the company's operational environment[109] - The company benefited from local government policies, receiving rent reductions that helped lower operational expenses and improve cash flow[115] - The coal supply chain business is expected to return to normal levels in the third quarter, supported by macroeconomic policies and the resumption of industrial activities[118] Corporate Governance - The company maintains a strong commitment to corporate governance principles to enhance shareholder value[189] - The Audit Committee, consisting of four independent non-executive directors, reviewed the unaudited interim results for the six months ending June 30, 2020, ensuring compliance with applicable accounting standards[191] - The company’s governance practices comply with the GEM Listing Rules and the Corporate Governance Code[193] - The board reviewed the effectiveness of the group's risk management and internal control systems for the six months ending June 30, 2020, and deemed them effective and appropriate[195] Future Plans and Developments - The company plans to engage external valuation experts for level 3 fair value measurements, ensuring compliance with valuation standards[57] - The company anticipates that orders for its subsidiary, Tengzhou Kaiyuan, will return to normal levels in the third quarter as the pandemic's impact continues to diminish[114] - The company plans to upgrade its internal operations and expand its storage center to mitigate dust pollution during the business vacuum period[120] - The company plans to expand its agricultural investment by promoting the "Source Vegetables" platform and increasing virtual terminal partnerships, starting with Fujian Fuan as the first point for agricultural financial services[141]

KAISUN HOLDINGS LIMITED 凱順控股有限公司 * （於開曼群島註冊成立之有限公司） （股份代號：8203） 一帶一路參與者 截至二零二零年六月三十日止六個月 中期業績公告 香港聯合交易所有限公司（「聯交所」）GEM之特色 GEM之定位，乃為相比其他在聯交所上市之公司帶有更高投資風險之公司提供一個上市 之市場。有意投資者應瞭解投資於該等公司之潛在風險，並應經過審慎周詳考慮後方作 出投資決定。GEM之較高風險及其他特色表示創業板較適合專業及其他資深投資者。 由於GEM上市公司之新興性質所然，在GEM買賣之證券可能會較於主板買賣之證券承 受較大之市場波動風險，同時無法保證在GEM買賣的證券會有高流通量之市場。 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份內容 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。 本公告乃遵照GEM證券上市規則提供有關凱順控股有限公司（「本公司」）之資料，本公司 各董事（「董事」）對本公告共同及個別承擔責任。各董事並在作出一切合理查詢後確認， 就彼等所知及確信 ...

Financial Performance - Revenue for Q1 2020 was HKD 4,102 thousand, a decrease of 94.61% compared to HKD 76,069 thousand in Q1 2019[15] - Gross profit for Q1 2020 was HKD 1,433 thousand, down 66.05% from HKD 4,221 thousand in Q1 2019[15] - Loss from continuing operations for Q1 2020 was HKD 22,765 thousand, a reduction of 34.50% compared to HKD 34,757 thousand in Q1 2019[15] - Total comprehensive loss for Q1 2020 was HKD 12,815 thousand, compared to HKD 25,848 thousand in Q1 2019[19] - The company reported a loss per share of HKD 3.48 for Q1 2020, improved from HKD 4.91 in Q1 2019[17] - The total revenue for the first quarter of 2020 was HKD 4,102,000, compared to HKD 76,069,000 in the same period of 2019, reflecting a decrease of approximately 94.6%[47] - The net loss for Q1 2020 was approximately HKD 20.1 million, a reduction of about 33.9% compared to a loss of HKD 30.4 million in Q1 2019[121] Revenue Breakdown - The revenue breakdown for 2020 included 24% from mining and metallurgical machinery products, 30% from media services and esports events, 22% from corporate services, and 24% from supply chain management services[9] - Revenue from mining and metallurgy machinery products was HKD 995,000, a decrease from HKD 2,821,000 in 2019, representing a decline of approximately 64.7%[47] - Revenue from supply chain management services was HKD 985,000, significantly down from HKD 69,122,000 in the previous year, indicating a decline of about 98.6%[47] - The company’s revenue from corporate services was HKD 887,000, down from HKD 2,599,000 in 2019, representing a decline of approximately 65.8%[47] - The company’s media services and esports event hosting revenue was HKD 1,235,000, slightly down from HKD 1,527,000 in the previous year, indicating a decrease of about 19.1%[47] Expenses and Losses - Administrative and other operating expenses decreased to HKD 13,486 thousand in Q1 2020 from HKD 16,653 thousand in Q1 2019[15] - The company recorded an impairment loss on trade receivables and other receivables of HKD 3,986 thousand in Q1 2020, compared to a reversal of HKD 11,900 thousand in Q1 2019[15] - The company experienced a fair value loss on financial assets of HKD 7,716 thousand in Q1 2020, compared to a loss of HKD 33,044 thousand in Q1 2019[15] - The fair value loss of financial assets measured at fair value through profit or loss decreased from approximately HKD 33 million to HKD 7.7 million compared to Q1 2019[121] Equity and Liabilities - The total equity as of January 1, 2019, was HKD 57,857 million, with a share price of HKD 1,383,055 million[22] - For the quarter ending March 31, 2020, the total equity decreased to HKD 57,657 million, and the share price was HKD 1,363,055 million, reflecting a decline of approximately 0.35%[22] - The total liabilities as of March 31, 2020, were HKD 1,167,762 million, reflecting an increase from HKD 959,211 million reported previously[22] - The group’s total assets amounted to HKD 607,510 million as of March 31, 2020, while total liabilities were HKD 181,814 million[55] Cash Flow and Investments - The company reported a total cash flow of HKD (1) for operations in Q1 2020, with no cash flow from investing or financing activities[73] - The non-current assets related to investments in subsidiaries amounted to HKD 205,597,000, while current assets were only HKD 15,000[73] - The group issued non-listed bonds maturing in 2020 with a total principal amount of HKD 50 million, of which HKD 30 million was allocated for the acquisition of a railway logistics platform project in Mongolia[135] Corporate Governance - The board of directors has established several committees, including an Audit Committee, a Remuneration Committee, and a Nomination and Corporate Governance Committee, all primarily composed of independent non-executive directors[157] - The company emphasizes good corporate governance principles to enhance shareholder value and ensure transparency and independence[157] - The audit committee has been established with four independent non-executive directors, ensuring compliance with financial reporting and risk management standards[159] Market and Operational Challenges - The company anticipates that business operations in China may not return to normal levels before Q4 2020 due to ongoing pandemic-related challenges[82] - The company has implemented cost control measures and reduced personnel to alleviate cash flow pressures during the pandemic[81] - The company plans to shift offline activities to online services due to the ongoing impact of the COVID-19 pandemic[117] Shareholder Information - The largest shareholder, Mr. Chen, holds 167,263,298 shares, representing approximately 29.01% of the total issued shares[148] - The second-largest shareholder, Mr. Zhang, holds 81,950,000 shares, accounting for about 14.21% of the total issued shares[148]

Financial Performance - For the third quarter of 2019, Kaisun Holdings Limited reported a revenue of HKD 21,237,000, a decrease of 24.2% compared to HKD 28,023,000 in the same period of 2018[15] - The gross profit for the third quarter of 2019 was HKD 3,810,000, down from HKD 5,306,000 in the third quarter of 2018, representing a decline of 28.2%[15] - The operating loss for the third quarter of 2019 was HKD 27,495,000, compared to a loss of HKD 26,524,000 in the same quarter of 2018, indicating a slight increase in losses[15] - The net loss attributable to the owners of the company for the third quarter of 2019 was HKD 24,958,000, compared to a loss of HKD 17,331,000 in the same period of 2018, reflecting a 44.1% increase in losses[16] - The total comprehensive loss for the third quarter of 2019 was HKD 57,526,000, compared to HKD 35,701,000 in the third quarter of 2018, marking an increase of 61.2%[19] - The company experienced a substantial increase in operating loss for the nine months ended September 30, 2019, amounting to HKD 88,055,000, compared to HKD 11,524,000 in the same period of 2018, reflecting a 664.1% increase in losses[10] - Kaisun Holdings Limited's total comprehensive loss for the nine months ended September 30, 2019, was HKD 126,332,000, compared to HKD 20,928,000 in the same period of 2018, representing a significant increase of 503.5%[19] - The basic loss per share for the third quarter of 2019 was HKD 4.66, compared to HKD 3.01 in the same quarter of 2018, indicating a deterioration in per-share performance[16] - The total segment loss reported for the nine months ended September 30, 2019, was HKD (75,578) thousand, compared to a profit of HKD 5,055 thousand for the same period in 2018[84] - The comprehensive loss for the period was HKD (86,406) thousand, significantly higher than the loss of HKD (10,088) thousand in the previous year[84] Revenue Breakdown - Kaisun Holdings Limited's revenue for the nine months ended September 30, 2019, was HKD 123,619,000, an increase of 15.0% from HKD 107,081,000 in the same period of 2018[15] - For the three months ended September 30, 2019, revenue from supply chain management services was HKD 11,354,000, a decrease from HKD 13,965,000 in the same period of 2018[77] - The revenue from mining and metallurgy machinery products for the three months ended September 30, 2019, was HKD 6,335,000, compared to HKD 5,141,000 in the same period of 2018[77] - The total revenue for the nine months ended September 30, 2019, was HKD 123,619,000 from media services and esports events, a significant increase from HKD 59,660,000 in the same period of 2018[77] - The total revenue from coal production and extraction for the nine months ended September 30, 2019, was HKD 929,000, down from HKD 4,840,000 in the same period of 2018[77] Assets and Liabilities - The company's total assets as of September 30, 2019, were 328,820 thousand HKD, a decrease from 454,027 thousand HKD as of January 1, 2019[22] - The total equity as of September 30, 2019, was 449,279 thousand HKD, showing an increase from 439,115 thousand HKD as of January 1, 2018[22] - Total liabilities increased by HKD 3,761,000, with non-current lease liabilities rising by HKD 2,708,000 and current lease liabilities by HKD 1,053,000[47][48] - The accumulated losses as of September 30, 2019, were (1,040,460) thousand HKD, reflecting a worsening financial position compared to (972,204) thousand HKD as of January 1, 2018[22] Financial Reporting Standards - The company has adopted new and revised International Financial Reporting Standards (IFRS) effective from January 1, 2019, which may impact future financial reporting[29] - The implementation of IFRS 16 on leases has been adopted by the company, which requires a single asset-liability model for all leases[32] - The financial statements are prepared in accordance with International Financial Reporting Standards, ensuring compliance with global accounting standards[27] Investments and Acquisitions - The acquisition of Pineapple Media increased the group's ownership from 30% to 70% for HKD 3,200,000, with identifiable net assets valued at HKD 5,204,000[106] - Pineapple Media contributed approximately HKD 7,252,075 to the group's revenue and HKD 484,656 to profit during the reporting period[108] - The acquisition of Pineapple Media resulted in a remeasurement loss of HKD 545,996 recognized in other expenses[108] - If the acquisition had been completed on January 1, 2018, total revenue from continuing operations would have been HKD 11,317,210, with profit of HKD 1,472,961[108] - The goodwill from the acquisition is attributed to expected profitability in new markets and anticipated operational synergies[109] Market and Operational Insights - The company’s main operating location is in Hong Kong, indicating a focus on the local market for its business operations[25] - The company is listed on the GEM of the Hong Kong Stock Exchange, which may affect its capital raising strategies[25] - The company plans to enhance its sales team and improve after-sales service to gradually increase future revenue[119] - The logistics center in Mongolia is expected to handle an annual throughput of 1.8 million tons, leveraging its strategic location between Russia and China[132] - The exploration work in Xinjiang is nearing completion, with approximately 70% of the exploration tasks finished, and the area of the mining site expanded from 1.1 square kilometers to 8.8 square kilometers[128][149] Shareholder Information - The group’s directors and senior executives held a total of 29.00% of the issued shares as of September 30, 2019[190] - As of September 30, 2019, the total number of shares held by Mr. Chen Li-ji is 167,193,298, representing 29.00% of the issued shares[198] - Mr. Zhang Xiong-feng holds 77,990,000 shares, which accounts for 13.53% of the total shares[198] - The company has not disclosed any additional significant shareholders beyond those mentioned as of September 30, 2019[199] Corporate Social Responsibility - The company was awarded the Outstanding Corporate Social Responsibility Award by the Mirror for its contributions in corporate social responsibility[166]