Financial Performance - For the six months ended June 30, 2022, the company reported revenue of HKD 131,336 thousand, an increase from HKD 120,627 thousand in the same period last year, representing a growth of approximately 8.9%[11] - The gross profit for the six months ended June 30, 2022, was HKD 10,709 thousand, compared to HKD 5,384 thousand in the previous year, indicating a significant increase of 98.5%[11] - The net profit attributable to owners of the company for the six months was HKD 13,760 thousand, a recovery from a loss of HKD 19,990 thousand in the same period last year[11] - The company reported a basic earnings per share of HKD 2.39 for the six months ended June 30, 2022, compared to a loss per share of HKD 3.47 in the previous year[11] - Total comprehensive income for the six months was HKD 9,040 thousand, a recovery from a loss of HKD 19,316 thousand in the same period last year[13] - Total revenue for the six months ended June 30, 2022, was HKD 131,336,000, compared to HKD 46,606,000 for the same period in 2021, representing an increase of 182%[31] - The group's gross profit for the same period was approximately HKD 10.7 million, up about 98% from HKD 5.4 million in the previous year[112] - The group's operating profit for the six months ended June 30, 2022, was approximately HKD 19.2 million, compared to an operating loss of HKD 20.9 million for the same period in 2021[112] - Total comprehensive income for the six months ended June 30, 2022, was approximately HKD 14.8 million, reversing a loss of HKD 22 million in the previous year[113] - The profit attributable to owners of the company was approximately HKD 9.2 million, compared to a loss of HKD 17.6 million for the same period in 2021[114] Assets and Liabilities - As of June 30, 2022, the company's total assets amounted to HKD 460,515 thousand, a decrease from HKD 368,389 thousand at the end of the previous year[15] - As of June 30, 2022, the company's current liabilities totaled HKD 377,865,000, an increase from HKD 294,968,000 as of December 31, 2021, representing a 28% increase[16] - The net current liabilities improved to HKD (162,922,000) from HKD (182,157,000) year-over-year, indicating a reduction of approximately 10%[16] - The total assets minus current liabilities stood at HKD 82,650,000, up from HKD 73,421,000, reflecting a growth of about 12%[16] - The company's net assets increased to HKD 42,824,000 from HKD 30,759,000, marking a significant rise of approximately 39%[16] - The total assets of the company as of June 30, 2022, amounted to HKD 460,515,000, while total liabilities were HKD 417,691,000[38] - The net current liabilities of the group were approximately HKD 162.9 million as of June 30, 2022, indicating ongoing concerns regarding the group's ability to continue as a going concern[118] Cash Flow and Investments - Cash generated from operating activities for the six months ended June 30, 2022, was HKD 5,064,000, slightly down from HKD 5,486,000 in the previous year[21] - The net cash used in investing activities was HKD (10,416,000), compared to HKD (35,000) in the prior year, indicating a substantial increase in investment outflows[21] - The company reported a net cash inflow from financing activities of HKD 1,955,000, a turnaround from a net outflow of HKD (1,291,000) in the previous year[21] - The total cash and cash equivalents decreased to HKD 4,758,000 from HKD 29,646,000, reflecting a decline of approximately 84%[21] - The group engaged in negotiations with creditors, resulting in the transfer of approximately HKD 29.98 million in receivables to offset the same amount in debt, improving liquidity[123] Market and Business Development - The company plans to continue exploring new markets and enhancing its product offerings to drive future growth[11] - The company has resumed its overseas esports business with the official restart of the Women's Esports Carnival global tour in 2022[70] - The company is actively pursuing the application for a 1.2 million ton mining license, with approval expected by the end of the year[86] - The company is committed to enhancing its production capabilities in mining and metallurgical machinery through its subsidiary Tengzhou Kaiyuan, which has obtained 50 safety certification marks for mining products[72] - The company is expanding its customer base by exploring various e-commerce sales channels and continuing to develop its tea segment[96] - The esports segment has resumed its global tour, with events planned in multiple countries to enhance brand visibility and attract sponsorships[108] Corporate Governance - The board has established several committees, including the Audit Committee, Remuneration Committee, and Nomination and Corporate Governance Committee, primarily composed of independent non-executive directors[142] - The company emphasizes good corporate governance principles to achieve sound management and enhance shareholder value[142] - The Audit Committee consists of three independent non-executive directors, with Mr. Liu Ruiyuan as the chairman[145] - The Audit Committee reviewed the unaudited interim results for the six months ended June 30, 2022, and confirmed compliance with applicable accounting standards and legal requirements[145] - The Board has reviewed the effectiveness of the Group's risk management and internal control systems for the six months ended June 30, 2022, and deemed them effective and appropriate[148] Employee and Operational Metrics - The company reported a total of HKD 11,611,000 in employee costs for the six months ended June 30, 2022[38] - The total employee costs for the six months ended June 30, 2022, were approximately HKD 11.6 million, unchanged from the same period in 2021[121] - The group employed 119 staff as of June 30, 2022, an increase from 116 as of December 31, 2021, indicating a slight growth in workforce[121] Economic and Industry Context - The company reported that the global economic recovery is challenged by the ongoing Russia-Ukraine conflict and the impact of COVID-19 restrictions in China, with a projected economic growth slowdown to 4.1% for China in 2022[70] - In the first five months of 2022, China's coal production reached 1.81 billion tons, a year-on-year increase of 10.4%[73] - Xinjiang's coal transportation reached 57.79 million tons in the first half of 2022, a year-on-year increase of 30.5%[85] - Mongolia's coal exports to China reached 2.103 million tons in June 2022, a year-on-year increase of 224.2%[90] Shareholder Information - The company reported a total of 167,263,298 shares held by Mr. Chen Li-chi, representing approximately 29.01% of the total issued shares[130] - Major shareholder Mr. Zhang Xiong-feng holds 81,950,000 shares, accounting for about 14.21% of the total issued shares[134] - The 2016 Share Award Plan currently holds a total of 13,610,000 shares as of June 30, 2022[137] - The company plans to adopt a new share award plan to replace the 2016 Share Award Plan[138]

Financial Performance - Total revenue for 2021 was HKD 156,576,000, a significant increase from HKD 35,958,000 in 2020, representing a growth of approximately 335%[11] - The company reported a loss before tax of HKD 68,586,000 in 2021, slightly improved from a loss of HKD 69,705,000 in 2020[11] - The group’s revenue for the year ended December 31, 2021, was approximately HKD 156 million, an increase of about 340% compared to HKD 36 million in the same period last year[60] - The group’s gross profit decreased by approximately 48% to about HKD 7 million, down from HKD 13.4 million in 2020[60] - The group reported a loss of approximately HKD 71.3 million for the year, compared to a loss of HKD 64.3 million in 2020[63] - The total comprehensive loss attributable to the company's owners was approximately HKD 63.2 million, compared to a loss of HKD 50.3 million in 2020[64] - Revenue for the year 2021 was HKD 84,796,000, a decrease of 39.7% compared to HKD 140,464,000 in 2020[91] - The loss before tax for 2021 was HKD (18,201,000), compared to a profit of HKD 62,791,000 in 2020[91] Assets and Liabilities - Total assets increased to HKD 368,389,000 in 2021 from HKD 353,790,000 in 2020, reflecting a growth of about 4.5%[11] - Total liabilities rose to HKD 337,630,000 in 2021, up from HKD 255,690,000 in 2020, indicating an increase of approximately 32%[11] - The company's equity attributable to owners decreased to HKD 11,789,000 in 2021 from HKD 75,151,000 in 2020, a decline of about 84%[11] - As of December 31, 2021, the group held cash and bank balances of approximately HKD 8.3 million, down from HKD 10.4 million in 2020[78] - The group's net current liabilities were approximately HKD 182.2 million, indicating ongoing concerns regarding the group's ability to continue as a going concern[78] Business Strategy and Operations - The company decided to withdraw from its "Belt and Road" initiatives in Central Asia and the UK, refocusing its business strategy on mainland China due to the impact of COVID-19[13] - The company is exploring new strategies to adapt to the ongoing pandemic and its effects on international business operations[13] - The management remains cautious about future performance due to the uncertainties surrounding COVID-19 variants and their impact on the global economy[12] - The group has been investing in countries along the "Belt and Road" initiative since 2013, with operations in Tajikistan, Vietnam, Mongolia, and the UK, but faced significant challenges due to the pandemic, leading to the closure of most overseas operations[14] - In 2021, the group relocated its Hong Kong headquarters to a more economical office to control administrative expenses, reflecting the increased operational challenges due to the pandemic[15] Market Conditions - The global economic recovery faced challenges from supply chain disruptions and inflation pressures, affecting the company's operations[12] - The International Monetary Fund projected a decline in global economic growth from 5.9% in 2021 to 4.4% in 2022, indicating a challenging economic environment ahead[12] Environmental and Social Governance (ESG) - As of August 19, 2021, 2,418 out of 2,579 listed companies on the Hong Kong Stock Exchange had disclosed ESG information, representing 93.8% compliance, despite the increased pressure on companies to meet these requirements[16] - The company is enhancing its environmental standards by constructing more greenhouses and improving platform infrastructure[26] - The group's traditional coal mining and machinery assembly businesses remain core, with efforts to comply with global ESG standards[77] Employee and Management - Total employee costs, including directors' remuneration, were approximately HKD 25.7 million for the year, compared to HKD 23.8 million in 2020, reflecting a 7.99% increase[83] - The group employed 116 staff members as of December 31, 2021, a slight decrease from 117 in 2020[82] - The company appointed Mr. Peng Yiqian as the Chief Financial Officer and Company Secretary effective April 26, 2021[193] - The remuneration committee approved salary increases and bonuses for executive directors and senior management, although the executives did not participate in decisions regarding their own remuneration[198] Corporate Governance - The company has complied with most of the corporate governance code provisions as per GEM Listing Rules Appendix 15 for the year ending December 31, 2021[158] - The governance structure includes an audit committee, nomination and governance committee, and a remuneration committee to oversee financial reporting and risk management[168] - The board consists of five members, including two executive directors and three independent non-executive directors, ensuring a diverse range of expertise[181] - The company emphasizes the separation of roles between the chairman and the CEO to ensure effective governance[188] Future Outlook - The management remains optimistic about recovering trade receivables and loans to U-Power Energy due to the recent increase in coal prices, which is expected to enhance asset values[106] - The company expressed optimism regarding the future development of 天臣 following the acquisition[96] - The company plans to enhance internal controls and compliance procedures to avoid future disclosure delays[100] Miscellaneous - The group has not recommended the payment of dividends for the year ending December 31, 2021[120] - The company reported zero charitable donations for the fiscal year ending December 31, 2021, consistent with the previous year[124] - The company has established a pension plan in accordance with the Mandatory Provident Fund legislation, contributing 5% of eligible employees' salaries, with a maximum monthly contribution of 1,500 HKD per employee[134]

Financial Performance - For the three months ended March 31, 2022, the company reported revenue of HKD 86,832 thousand, an increase from HKD 21,619 thousand in the same period last year, representing a growth of 302%[9] - The gross profit for the same period was HKD 6,940 thousand, compared to HKD 3,745 thousand in the previous year, indicating an increase of 85%[9] - The operating loss for the quarter was HKD 17,206 thousand, worsening from a loss of HKD 7,100 thousand in the prior year, reflecting a deterioration of 142%[9] - The loss attributable to owners of the company was HKD 15,996 thousand, compared to HKD 6,887 thousand in the same quarter last year, representing an increase of 132%[9] - The basic loss per share for the quarter was HKD 2.77, compared to HKD 1.19 in the previous year, indicating a decline of 133%[9] - The total comprehensive loss for the period was HKD 16,967 thousand, compared to HKD 6,834 thousand in the same period last year, reflecting an increase of 148%[10] - The company reported a fair value loss on financial assets of HKD 5,478 thousand, compared to a gain of HKD 1,581 thousand in the previous year, indicating a significant decline[9] - The company’s financing costs for the quarter were HKD 1,681 thousand, up from HKD 1,290 thousand in the same period last year, representing an increase of 30%[9] Operational Overview - The company is primarily engaged in coal mining, consulting, media, and corporate investment businesses, indicating a diversified operational focus[16] - The group operates three reportable segments: coal mining, consulting and media services, and corporate and investment services, each requiring distinct technology and marketing strategies[24] - Revenue from external customers for the coal mining segment was HKD 85,720,000, while the consulting and media services segment generated HKD 992,000, and the corporate and investment segment contributed HKD 120,000, totaling HKD 86,832,000[25] - Employee costs for the first quarter of 2022 totaled HKD 5,845,000, compared to HKD 5,350,000 in the previous year, showing an increase in operational expenses[25] Financial Stability and Concerns - The group reported a loss of approximately HKD 17,653,000 for the year ending March 31, 2022, indicating significant uncertainty regarding its ability to continue as a going concern[17] - As of December 31, 2022, the group had a net current liability of approximately HKD 182,157,000, raising concerns about its financial stability[17] - The group is considering future financing actions to address its ongoing concerns regarding liquidity and debt repayment schedules[86] - The net current liabilities of the group were approximately HKD 182.2 million as of December 31, 2021, indicating ongoing concerns regarding the group's ability to continue as a going concern[86] Market and Industry Insights - The coal import volume in China for Q1 2022 was 51.81 million tons, a decrease of 24.2% year-on-year, while domestic coal production rose to 108.4 million tons, an increase of 10.3%[43] - The coal mining focus in China is gradually shifting to Xinjiang, supported by national policies and increasing coal and electricity demand in the region[53] - The group anticipates that the Mongolian coal industry will gradually return to normal as the pandemic situation improves, with increased coal imports benefiting the logistics center in Joyil[59] Corporate Governance - The board of directors has established an audit committee, a remuneration committee, and a nomination and corporate governance committee, all primarily composed of independent non-executive directors[103] - The company has maintained compliance with the corporate governance code during the three months ended March 31, 2022[106] - The audit committee reviewed the unaudited first-quarter results for the period ended March 31, 2022, and found them to comply with applicable accounting standards and legal requirements[105] Future Outlook - The group anticipates sufficient operating cash flow due to the gradual recovery of normal business activities as the COVID-19 pandemic subsides[18] - Ongoing discussions with creditors regarding debt repayment extensions are expected to yield positive results, contributing to the group's financial outlook[18] - The group plans to increase annual coal storage and trading volumes, enhancing supply chain management services in Shandong[66] - The group is preparing for the preliminary application of a mining license for 1.2 million tons, expecting to reach the final approval stage within the year[68]

Financial Performance - Revenue for the third quarter of 2021 reached HKD 96,184, representing a year-on-year increase of 388.3%[6] - Gross profit for the same period was HKD 7,937, reflecting a year-on-year growth of 12.1%[6] - The company reported a loss from continuing operations of HKD 35,161 for the nine months ended September 30, 2021, compared to a loss of HKD 48,893 in the same period of 2020[9] - The total loss for the nine months ended September 30, 2021, was HKD 36,428, down from HKD 41,234 in the previous year[9] - The basic loss per share for the nine months ended September 30, 2021, was HKD 5.73, compared to HKD 6.58 for the same period in 2020[11] - The total comprehensive loss for the nine months ended September 30, 2021, was HKD 44,625, compared to HKD 27,729 in the previous year[13] - The total comprehensive income for the nine months ended September 30, 2021, was HKD 18,614 million, compared to a loss of HKD 9,481 million for the same period in the previous year[15] - The total loss reported for the nine months ended September 30, 2021, was HKD 36,428 million, an improvement from a loss of HKD 41,234 million in the same period of 2020[41] - Basic loss per share for the nine months ended September 30, 2021, was HKD 33,025 million, compared to HKD 37,923 million for the same period in 2020[47] Revenue Breakdown - The company’s media services and esports events contributed 7% to total revenue, while supply chain management services accounted for 27%[7] - The company experienced a significant increase in revenue from supply chain management services, which rose by 80% compared to the previous year[7] - Revenue from management services increased significantly to HKD 45,591, compared to HKD 2,209 in the same period last year, representing a growth of 1,964%[28] - Total revenue for the nine months ended September 30, 2021, was HKD 96,184, up from HKD 19,687 in the previous year, marking a growth of 387%[28] - The total external customer revenue for the coal mining segment was HKD 88,216, while the total group revenue was HKD 96,184, indicating that coal mining contributed approximately 91.8% of total revenue[35] Financial Assets and Liabilities - The fair value of financial assets measured at fair value through profit or loss was HKD 36,293 million as of September 30, 2021[24] - The fair value of financial assets measured at fair value through other comprehensive income was HKD 19,100 million as of September 30, 2021[24] - The total fair value of financial assets as of September 30, 2021, was HKD 55,393 million[24] - The company reported a financial liability measured at fair value through profit or loss of HKD 36,664 million as of September 30, 2021[24] - The company’s financial assets measured at fair value through profit or loss amounted to HKD 20,545 million as of September 30, 2021, down from HKD 36,293 million at the end of 2020[50] - The group recorded a fair value loss of HKD 4.6 million on certain financial assets, reflecting market conditions[99] Operational Changes and Strategies - The company has restructured its reportable segments, merging three previous segments into a single "Consulting and Media Services" segment[33] - The company has shifted its business focus to mainland China, reducing reliance on higher-cost overseas operations[54] - The company aims to strengthen its risk resilience and minimize the impact of the pandemic in the fourth quarter[55] - The company is preparing to apply for a mining license for 1.2 million tons, expected to be approved by mid-2022[75] - The company plans to introduce Sainsaikhan Consulting Services LLC as a strategic contractor for the Joyal project to address local manpower shortages and reduce operational costs[80] Governance and Compliance - The company has adopted all new and revised International Financial Reporting Standards effective from January 1, 2021, with no significant impact on the financial statements[19] - The company’s financial supervisor is responsible for the fair value measurement of assets and liabilities, reporting directly to the board[25] - The company employs external valuation experts for Level 3 fair value measurements[25] - The audit committee consists of three independent non-executive directors, with Mr. Liu Ruiyuan serving as the chairman[162] - The company has adhered to the corporate governance code as stipulated in the GEM listing rules during the nine-month period ending September 30, 2021[165] Shareholder Information - As of September 30, 2021, the beneficial ownership of shares by the directors and senior executives includes Chen Libo with 167,263,298 shares, representing approximately 29.01% of the total issued shares[144] - Major shareholders include Chen Libo and Yang Baoyi, each holding 167,263,298 shares, which is approximately 29.01% of the total issued shares[149] - Zhang Xiongfeng holds 81,950,000 shares, representing approximately 14.21% of the total issued shares[149] - The company has not repurchased any of its listed securities during the six months ended September 30, 2021[157] Market Conditions and Future Outlook - The company’s management noted that the ongoing pandemic has negatively impacted local economic activities and cross-border business operations[54] - The central government is expected to increase coal production and imports to address supply shortages, positively impacting the coal supply chain business[65] - The company is focusing on developing new mining machinery to enhance functionality and improve mechanical efficiency[61] - The company aims to expand its tea trade and strengthen its existing market position while exploring new areas for growth[89]

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]

Financial Performance - For the first quarter of 2021, Kaisun Holdings Limited reported revenue of HKD 21,619,000, a significant increase of 427% compared to HKD 4,102,000 in the same period of 2020[6]. - The gross profit for the first quarter of 2021 was HKD 3,745,000, up from HKD 1,433,000 in 2020, reflecting a year-on-year increase of 63%[7]. - The loss from continuing operations for the first quarter of 2021 was HKD 7,100,000, a substantial improvement from a loss of HKD 19,597,000 in the same quarter of 2020, representing a decrease of 64%[9]. - The total comprehensive loss for the period was HKD 6,834,000, compared to HKD 23,268,000 in the previous year, indicating a reduction of 70%[13]. - The company reported a basic loss per share of HKD 1.19 for the first quarter of 2021, down from HKD 2.56 in the same period of 2020[11]. - The total loss for the first quarter of 2021 was HKD 7,693,000, compared to a loss of HKD 16,748,000 in the same period of 2020, showing an improvement of 54%[45]. - The comprehensive loss attributable to the company's owners for the first quarter of 2021 was approximately HKD 6 million, compared to a comprehensive income of HKD 13.65 million in the first quarter of 2020[119]. Revenue Breakdown - Revenue breakdown for 2021 showed that 27% came from mining and metallurgical machinery products, while 59% was from supply chain management services[7]. - Revenue from supply chain management services was HKD 12,710,000, up from HKD 985,000 year-over-year, indicating a growth of 1,292%[38]. - The mining and metallurgy machinery products generated revenue of HKD 5,735,000, compared to HKD 995,000 in the previous year, reflecting a growth of 476%[38]. - The consulting and media services segment reported revenue of HKD 3,174,000, an increase from HKD 2,122,000, which is a growth of 49%[45]. Financial Assets and Liabilities - As of March 31, 2021, the fair value of financial assets measured at fair value through profit or loss was HKD 26,700,000, while the fair value of financial assets measured at fair value through other comprehensive income was HKD 19,100,000[29]. - The total fair value of financial liabilities measured at fair value through profit or loss was HKD 36,664,000 as of March 31, 2021[30]. - The group held financial assets at fair value through profit or loss amounting to approximately HKD 26.7 million, all invested in listed securities in Hong Kong[119]. - The group’s financial assets at fair value through other comprehensive income amounted to approximately HKD 19.1 million as of March 31, 2021[124]. Operational Focus and Strategy - Kaisun Holdings Limited continues to focus on expanding its operations in supply chain management and mining sectors, aiming for further growth in the upcoming quarters[10]. - The company is currently evaluating the potential impact of new and revised International Financial Reporting Standards that will become effective in future periods[25]. - The company aims to strengthen trade cooperation between Mongolia and China, which is expected to benefit the logistics center's business development in the long term[93]. - The company is preparing to apply for a 1.2 million ton mining license in Mongolia, with expectations to reach the final stages of the approval process within the year[91]. Corporate Governance - The board of directors emphasizes good corporate governance principles to enhance shareholder value[157]. - The company has established an audit committee, a remuneration committee, and a nomination and corporate governance committee, all led by independent non-executive directors[157]. - The company’s management team is committed to transparency and independence in governance practices[157]. - The Audit Committee has been established with three independent non-executive directors, ensuring oversight of financial reporting, risk management, and internal control systems[158]. Market Conditions and Economic Outlook - The company’s management noted that the overall economy in Hong Kong contracted by 6.1% in 2020, the largest decline on record, and anticipated a recovery in 2021, albeit with uncertainties due to the pandemic[67]. - The company is focusing on the domestic market in Hong Kong and China while temporarily easing overseas operations due to the ongoing pandemic challenges[67]. - In early 2021, China's coal production reached 620 million tons, a year-on-year increase of 25%, indicating strong domestic demand despite restrictions on coal imports[71]. - The company expects continued growth in domestic coal machinery equipment demand, positively impacting Tengzhou Kaiyuan's business due to the government's focus on self-sufficiency in coal supply[71].

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]