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 就 因 本 公 告 全 部 或 任 何 部 分 內 容 而 產 生 或 因 倚 賴 該 等 內 容 而 引 致 的 任 何 損 失 承 擔 任 何 責 任。 WINTO GROUP (HOLDINGS) LIMITED 惠陶集團（控股）有限公司 熊遠健 香 港，2025年8月18日 於 本 公 告 日 期，董 事 會 包 括 執 行 董 事 熊 遠 健 先 生；以 及 獨 立 非 執 行 董 事 黃 子 玲 女 士、李 國 麟 先 生 及 盧 德 偉 先 生。 本公告的資料乃遵照聯交所GEM證 券 上 市 規 則 而 刊 載，旨 在 提 供 有 關 本 公 司 的 資 料，各 董 事 願 就 本 公 告 的 資 料 共 同 及 個 別 地 承 擔 全 部 責 任。各 董 事 在 作 出 所 有 合 理 查 詢 後 確 認，就 其 所 知 及 所 信，本 公 告 所 載 資 料 在 各 重 要 方 面 均 屬 準 確 完 備，沒 有 誤 導 ...

FF003G 香港聯合交易所有限公司 （香港交易及結算所有限公司的全資附屬公司） 監管表格 上市申請表格 G 表格 GEM 公司資料報表 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資料報表的內容概不負責，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資料報表全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔 任何責任。 公司名稱： 惠陶集團(控股)有限公司 證券代號（普通股）： 8238 本資料報表列載若干有關上述在香港聯合交易所有限公司（「交易所」）GEM 上市的公司（「該公司」） 的資料。 該等資料乃遵照香港聯合交易所有限公司《GEM 證券上市規則》（「《GEM 上市規則》」） 的規定而提供，旨在向 公眾提供有關該公司的資料。該等資料將會在互聯網的 GEM 網頁展示。本資料報表不應視作有關該公司及╱或 其證券的完整資料概要。 本報表的資料乃於 2025年8月7日更新。 A. ㇐般資料 | 註冊成立地點 | ： | 開曼群島 | | --- | --- | --- | | 在 GEM 首次上市日期 | ： | 2015 年 2 月 16 日 | 保薦人名稱 ： 不適用 董事姓 ...

惠陶集團（控股）有限公司 （於開曼群島註冊成立的有限公司） （股份代號：8238） 董事名單與其角色及職能 WINTO GROUP (HOLDINGS) LIMITED 附 註： 惠 陶 集 團（控 股）有 限 公 司（「本公司」）的 董 事（「董 事」）會（「董事會」）成 員，自2025 年8月7日 起 載 列 如 下。 執 行 董 事： 熊遠健 （主 席） 獨 立 非 執 行 董 事： 黃子玲 李國麟 盧德偉 下 表 提 供 有 關 各 董 事 於 該 等 委 員 會 擔 任 成 員 的 資 料。 | | | | | 企業管治及 風險管理 | | --- | --- | --- | --- | --- | | 董事姓名 | 審核委員會 | 薪酬委員會 | 提名委員會 | 委員會 | | 熊遠健 | | | | | | 黃子玲 | C | C | C | C | | 李國麟 | M | M | M | M | | 盧德偉 | M | M | M | M | C 相關董事委員會的主席 M 相關董事委員會的成員 香 港，2025年8月7日 ...

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 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 的 任 何 損 失 承 擔 任 何 責 任。 (1)主 席 及 執 行 董 事 辭 任； (2)委 任 主 席；及 WINTO GROUP (HOLDINGS) LIMITED (3)董事委員會組成變動 惠陶集團（控股）有限公司 （於開曼群島註冊成立的有限公司） （股份代號：8238） 主席及執行董事辭任 惠 陶 集 團（控 股）有 限 公 司（「本公司」）董 事（「董 事」）會（「董事會」）謹 此 宣 佈，呂 文 華 先 生（「呂先生」）因 個 人 工 作 安 排，已 辭 任 執 行 董 事、董 事 會 主 席、本 公 司 提 名 委 員 會（「提名委員會」）主 席、本 公 司 企 業 管 治 及 風 險 管 理 委 員 會（「企業管治 及風險管理委員會」）主 席 以 及 薪 酬 委 員 會 成 員，自2025年8月7日 起 生 ...

FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 惠陶集團（ 控股）有限公司 (於開曼群島註冊成立的有限公司) I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 08238 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 500,000,000 | HKD | | 0.2 HKD | | 100,000,000 | | 增加 / 減少 (-) | | | 0 | | | HKD | | 0 | | 本月底結存 | | | 500,000,000 | HKD | | 0.2 HKD | | 100,000,000 | 本月底法定/註冊股本總額： HKD ...

Group 1 - The Hang Seng Index rose by 0.67% to close at 23,689.13 points on June 23 [1] - Huitao Group (08238.HK) closed at HKD 0.175 per share, up 15.89%, with a trading volume of 307,300 shares and a turnover of HKD 53,900 [1] - Over the past month, Huitao Group has seen a cumulative increase of 20.8%, but a year-to-date decline of 46.07%, underperforming the Hang Seng Index by 17.3% [2] Group 2 - For the fiscal year ending December 31, 2024, Huitao Group reported total revenue of HKD 19.2996 million, a year-on-year decrease of 11.5%, and a net profit attributable to shareholders of -HKD 18.3273 million, an increase of 73.15% [2] - The gross profit margin for Huitao Group stands at 44.13%, with a debt-to-asset ratio of 235.96% [2] Group 3 - Currently, there are no institutional investment ratings for Huitao Group [2] - The media and entertainment industry has an average price-to-earnings (P/E) ratio of -7.14 times, with a median of -1.46 times; Huitao Group's P/E ratio is -0.66 times, ranking 104th in the industry [2] Group 4 - Huitao Group was successfully listed on the Hong Kong Stock Exchange's Growth Enterprise Market on February 16, 2015, marking a significant milestone for the company [3] - Since the publication of its first sales magazine in April 2009, Huitao Group has expanded to six magazines and over 1,000 distribution points across various locations in Hong Kong [3] Group 5 - In 2015, Huitao Group established a wholly-owned subsidiary, High Media Limited, which specializes in outdoor media advertising, covering a wide range of advertising formats [4] - The outdoor advertising business is increasingly favored by advertisers due to its high coverage, strong visual impact, and diverse presentation forms [4] Group 6 - In September 2015, Huitao Group completed the acquisition of a 20% equity stake in Strategy King Media Holdings Limited, which publishes a Chinese financial and investment weekly in Hong Kong [5] - This acquisition allows Huitao Group to cross-sell various magazine advertising spaces, further capitalizing on advertising business opportunities [5]

Core Viewpoint - The news highlights the recent performance of Huitao Group, noting its significant stock price increase despite a decline in overall revenue and profitability metrics. The company is facing challenges in the media and entertainment industry, reflected in its low valuation compared to peers. Company Summary - As of May 28, Huitao Group's stock closed at HKD 0.245, marking an 11.87% increase with a trading volume of 1.2592 million shares and a turnover of HKD 297,100, showing a volatility of 25.11% [1] - Over the past month, Huitao Group has experienced a cumulative increase of 29.59%, but it has a year-to-date decline of 21.79%, underperforming the Hang Seng Index by 16.56% [2] - For the fiscal year ending December 31, 2024, Huitao Group reported total revenue of HKD 19.2996 million, a year-on-year decrease of 11.5%. The net profit attributable to shareholders was a loss of HKD 18.3273 million, which is a 73.15% increase in losses compared to the previous year. The gross margin stood at 44.13%, and the debt-to-asset ratio was 235.96% [2] Industry Summary - Currently, there are no institutional ratings for Huitao Group's stock. The media and entertainment industry has an average price-to-earnings (P/E) ratio of -7.69 times, with a median of -1.23 times. Huitao Group's P/E ratio is -0.96 times, ranking it 98th in the industry [3] - Other companies in the same sector have the following P/E ratios: Huasheng Group Holdings at 1.73 times, Yaoxing Technology Group at 2.9 times, Vaporsphere Metaverse at 3.24 times, Guoen Holdings at 3.94 times, and HYPEBEAST at 6.36 times [3] - Huitao Group was successfully listed on the Hong Kong Stock Exchange's Growth Enterprise Market on February 16, 2015. Since the publication of its first sales magazine in April 2009, the company has expanded its portfolio to six magazines and over 1,000 distribution points across various locations in Hong Kong [3]

Company Overview - As of May 21, the stock price of Huitao Group (08238.HK) closed at HKD 0.146 per share, marking a 16.8% increase with a trading volume of 1.8976 million shares and a turnover of HKD 263,200, showing a volatility of 27.2% [1] - Over the past month, Huitao Group has experienced a cumulative decline of 28.16%, and a year-to-date decline of 55.36%, underperforming the Hang Seng Index by 18.05% [1] - Financial data indicates that for the year ending December 31, 2024, Huitao Group reported total revenue of HKD 19.2996 million, a decrease of 11.5% year-on-year, and a net profit attributable to shareholders of -HKD 18.3273 million, an increase of 73.15% year-on-year, with a gross margin of 44.13% and a debt-to-asset ratio of 235.96% [1] Industry Valuation - Currently, there are no institutional investment ratings for Huitao Group [2] - The average price-to-earnings (P/E) ratio for the media and entertainment industry (TTM) is -5.14 times, with a median of -1.21 times. Huitao Group's P/E ratio stands at -0.55 times, ranking 102nd in the industry [2] - Comparatively, other companies in the industry have the following P/E ratios: Huasheng Group Holdings (01111.HK) at 1.73 times, Yaoxing Technology Group (08446.HK) at 2.77 times, Vaporsphere Metaverse (08093.HK) at 3.29 times, Guoen Holdings (08121.HK) at 3.38 times, and China Creative Holdings (08368.HK) at 6.48 times [2] Business Development - Huitao Group was successfully listed on the Hong Kong Stock Exchange's Growth Enterprise Market on February 16, 2015, marking a significant milestone for the company [2] - Since the publication of its first sales magazine "Ming Che Station" and the first free magazine "Ming Che Station Viewing Building Station Free Edition" in April 2009, Huitao Group has expanded to six magazines and over 1,000 distribution points across Hong Kong, including gas stations, foot massage shops, hair salons, and coffee shops [2] - The company has established a broad customer base of over 100 clients, spanning various industries such as automotive sales, beauty brands, real estate agencies, jewelry, professional services, and pet shops [2] Advertising Business Expansion - In 2015, Huitao Group established a wholly-owned subsidiary, Gao Media Limited, which specializes in outdoor media advertising, covering various formats such as taxi and minibus advertisements, ice cream truck ads, rooftop/wall advertisements, outdoor lightbox ads, and LED screen ads [3] - The outdoor media business is increasingly favored by advertisers due to its high coverage, strong visual impact, and diverse presentation forms, allowing for effective communication with audiences [3] - The establishment of Gao Media is expected to enrich Huitao Group's business offerings and attract more advertising opportunities, further expanding its operational scope in the media industry [3] Strategic Acquisitions - In September 2015, Huitao Group completed the acquisition of a 20% equity stake in Strategy King Media Holdings Limited, which publishes a Chinese financial and investment weekly magazine in Hong Kong, sold primarily through convenience stores and newsstands [4] - The magazine covers topics such as finance, wealth management, property investment, and lifestyle, and the acquisition is expected to enhance Huitao Group's advertising business through cross-selling opportunities [4]

Business Performance - The Group reported a cautious optimism regarding business performance despite a volatile macro-economic environment due to global events[20]. - Businesses have tightened their budgets on marketing and advertisement expenses, impacting overall business confidence[20]. - The Group aims to remain resilient in the face of these challenges and is committed to continuous improvement and success[21]. Financial Results - The Group recorded total revenue of approximately HK$20,841,000 for the year ended 31 December 2024, representing a decrease of approximately 12% from approximately HK$23,550,000 for the year ended 31 December 2023[24]. - Total gross profit increased by approximately 44% to approximately HK$9,198,000 for the year ended 31 December 2024, compared to approximately HK$6,375,000 for the year ended 31 December 2023[47]. - Loss attributable to the owners of the Company amounted to approximately HK$19,791,000 for the year ended 31 December 2024, a significant improvement from a loss of approximately HK$73,721,000 for the year ended 31 December 2023[24]. - Revenue from the publications and advertising business increased to approximately HK$13,207,000 for the year ended 31 December 2024, up from approximately HK$9,109,000 for the year ended 31 December 2023[32]. - Revenue generated from online sales of beauty and cosmetics products decreased to approximately HK$684,000 for the year ended 31 December 2024, down from approximately HK$11,321,000 for the year ended 31 December 2023[37]. - Revenue from sales of luxury products increased to approximately HK$6,950,000 for the year ended 31 December 2024, compared to approximately HK$3,120,000 for the year ended 31 December 2023[38]. - The Group did not generate any revenue from the exhibition and trade show business and related services for the year ended 31 December 2024, consistent with the previous year[36]. - Other income increased by approximately HK$485,000 to approximately HK$639,000 for the year ended 31 December 2024, primarily due to government grants related to technology modernization[48]. - The Directors do not recommend the payment of a final dividend for the year ended 31 December 2024[24]. - Gross profit increased by approximately 44% from HK$6,375,000 for the year ended December 31, 2023, to approximately HK$9,198,000 for the year ended December 31, 2024[51]. - Other income rose significantly by approximately 485% from HK$154,000 for the year ended December 31, 2023, to approximately HK$639,000 for the year ended December 31, 2024, primarily due to a government subsidy of HK$629,000 for technological modernization[52]. - The Group recorded other losses of approximately HK$905,000 for the year ended December 31, 2024, compared to other gains of approximately HK$56,802,000 for the year ended December 31, 2023[53]. - Operating expenses increased by approximately 3% from HK$11,360,000 for the year ended December 31, 2023, to approximately HK$11,688,000 for the year ended December 31, 2024[56]. - Finance costs amounted to approximately HK$1,803,000 for the year ended December 31, 2024, compared to approximately HK$1,198,000 for the year ended December 31, 2023[57]. - The loss attributable to owners of the Company for the year ended December 31, 2024, was HK$19,791,000[63]. Financial Position - The current ratio decreased from approximately 0.5 times as of December 31, 2023, to approximately 0.4 times as of December 31, 2024[68]. - Cash and cash equivalents increased to approximately HK$9,590,000 as of December 31, 2024, from approximately HK$3,552,000 as of December 31, 2023[69]. - The gearing ratio improved to approximately 7% as of December 31, 2024, down from 29% as of December 31, 2023[70]. - Trade receivables decreased from approximately HK$25,436,000 to HK$8,598,000, with trade receivable turnover days improving from approximately 217 days to approximately 151 days[73]. Human Resources - As of December 31, 2024, the Group's employee headcount was 12, a decrease from 13 in 2023, with total staff costs amounting to approximately HK$5,330,000, down from approximately HK$7,158,000 in 2023[93]. - The Group conducts annual performance reviews for employees, which influence salary reviews and promotion appraisals, alongside providing bonuses based on financial performance[89]. Corporate Governance - The Group has no major investment or capital asset plans as of December 31, 2024[91]. - There are no significant asset pledges by the Group as of December 31, 2024[92]. - The Group's principal activity is investment holding, with key subsidiaries' activities detailed in note 36 of the consolidated financial statements[119]. - For the year ended December 31, 2024, the Group focused on minimizing environmental damage and ensuring employee well-being, with no recorded non-compliance in environmental and social aspects[121]. - Stakeholder engagement highlighted key material issues including employee health and safety, labor standards, intellectual property rights, customer data protection, and anti-corruption, all of which are actively managed by the Group[121]. - The Group will publish an Environmental, Social and Governance Report within three months of this annual report, detailing environmental policies, stakeholder relationships, and compliance with relevant laws[122]. - Continuous efforts were made to enhance corporate governance and business exposure across various sectors including automobile, construction, and oil and gas[108]. - The Group's financial performance analysis will be included in the Management Discussion and Analysis section of the annual report[120]. - The Group's business operations are committed to advancing environmental, social, and governance management through close communication with stakeholders[121]. - The Group's future business development and potential risks will be discussed in the Chairman's Statement and Management Discussion and Analysis[120]. - The Group has maintained a focus on corporate accounting, finance, and corporate secretarial matters through its financial controller[107]. - The Group's directors have confirmed no changes in their information as required by GEM Listing Rules[113]. Shareholder Information - For the year ended December 31, 2024, the Group's sales to the five largest customers accounted for approximately 26% of total sales, with the largest customer contributing about 12%[139]. - Purchases from the Group's five largest suppliers represented approximately 80% of total purchases, with the largest supplier accounting for around 24%[139]. - The Group did not recommend the payment of any final dividend for the year ended December 31, 2024[127]. - As of December 31, 2024, the Company had no reserves available for distribution to shareholders[130]. - There were no material acquisitions or disposals of subsidiaries and affiliated companies during the year, except for the acquisition of 50.1% of Yantic Limited on April 1, 2023[155]. - The Group adopted a share option scheme on February 16, 2015, which is set to expire on February 16, 2025[157]. - The Remuneration Committee is responsible for recommending the Company's remuneration policy, considering market competitiveness and individual performance[156]. Compliance and Regulations - The Group's operations continued to focus on reducing environmental impact and ensuring employee welfare, with no recorded violations related to environmental and social aspects[125]. - The Group will publish its environmental, social, and governance report within three months after the annual report release, detailing its policies and performance[125]. - The Group's financial performance analysis is included in the management discussion and analysis section of the annual report[125]. - The company adopted a share option scheme on February 16, 2015, which will expire on February 16, 2025[162]. - As of December 31, 2024, the company had 87,091,200 shares issued[178]. - Mr. Lui Man Wah holds a long position of 34,330 shares, representing approximately 0.04% of the company's issued share capital[170]. - There were no interests or short positions in shares or debentures of the company required to be disclosed by directors or chief executives as of December 31, 2024[174]. - The company confirmed compliance with the disclosure requirements under Chapter 20 of the GEM Listing Rules regarding related party transactions[186]. - The company maintained a sufficient public float of not less than 25% of its issued shares as required under the GEM Listing Rules[184]. - The consolidated financial statements for the reporting period were audited by Global Link CPA Limited[189]. - The company has complied with the GEM Listing Rules and the Corporate Governance Code throughout the year[192]. - There were no connected transactions subject to disclosure requirements under the GEM Listing Rules during the year[183]. - The remuneration for the auditors will be proposed for approval at the forthcoming annual general meeting[190]. - The Company has not complied with GEM Listing Rules 5.05(1) and 5.28 since the resignation of Ms. Liu Xiaomin on January 13, 2025, which requires at least three independent non-executive directors and a minimum of three members in the audit committee[193][196]. - The Company currently has no CEO, with all CEO duties shared among executive Directors, which the Board believes allows for prompt decision-making and effective response to changing environments[194][197]. - The Company is committed to enhancing its corporate governance standards to comply with regulatory requirements and meet the growing expectations of shareholders and investors[195][197]. - The Company has adopted a code of conduct for Directors' securities transactions that meets or exceeds the standards set out in GEM Listing Rules 5.48 to 5.67, with all Directors confirming compliance during the year ended December 31, 2024[198]. - Directors and officers are indemnified under a liability insurance policy against any liabilities incurred while discharging their duties[199]. - The Board of Directors is responsible for the leadership and monitoring of the Company, collectively promoting the success of the Group[200].

Financial Performance - Total revenue for the year ended December 31, 2024, was HKD 320.841 million, a decrease from HKD 335.50 million in 2023, representing a decline of approximately 4.9%[4] - Gross profit for the year was HKD 9.198 million, compared to HKD 6.375 million in 2023, indicating an increase of approximately 44.5%[4] - The company reported a loss before tax of HKD 20.367 million, significantly improved from a loss of HKD 74.661 million in the previous year, reflecting a reduction of approximately 72.7%[4] - The total comprehensive loss for the year was HKD 20.367 million, compared to HKD 74.661 million in 2023, showing a decrease of approximately 72.7%[4] - Basic loss per share for the year was HKD 28.48, improved from HKD 123.7 in 2023[4] - Revenue from external customers for the year ending December 31, 2024, totaled HKD 20,841,000, a decrease from HKD 23,550,000 in 2023, representing a decline of approximately 11.5%[24][31] - The group reported a total loss before tax of HKD 20,367,000 for the year ending December 31, 2024, compared to a loss of HKD 74,661,000 in 2023, indicating a significant improvement[24][26] - The loss attributable to the owners of the company for the year ending December 31, 2024, was approximately HKD 19,791,000, compared to a loss of HKD 73,721,000 for the year ending December 31, 2023[65] Assets and Liabilities - Non-current assets decreased to HKD 1.109 million in 2024 from HKD 2.278 million in 2023, a decline of approximately 51.3%[5] - Current assets decreased to HKD 27.377 million in 2024 from HKD 38.747 million in 2023, a decline of approximately 29.2%[5] - Total liabilities decreased to HKD 67.215 million in 2024 from HKD 70.709 million in 2023, a reduction of approximately 5.3%[5] - The company's capital deficit increased to HKD 38.729 million in 2024 from HKD 29.684 million in 2023, an increase of approximately 30.5%[6] - Current liabilities exceeded current assets by HKD 39,838,000 as of December 31, 2024[18] - Total liabilities exceeded total assets by HKD 38,729,000, indicating significant uncertainty regarding the group's ability to continue as a going concern[18] - The total assets of the group decreased from HKD 41,025,000 in 2023 to HKD 28,486,000 in 2024, reflecting a reduction of approximately 30.5%[29] Financial Condition and Liquidity - The board has taken measures to alleviate cash flow pressure and improve financial conditions, including cash flow forecasts for at least the next twelve months[19] - The board believes that the group will have sufficient working capital to meet its financial obligations in the next twelve months based on successful implementation of its plans[19] - The group is assessing its ability to generate sufficient funding and operational cash flow to continue its business[20] - The group is negotiating favorable terms with its contractor to settle liabilities of approximately HKD 37,489,000 due to the early termination of a subcontract agreement[21] - The group is actively negotiating with lenders to extend the repayment period of its loans, including principal and interest[21] - The group is in discussions with external parties to secure new funding sources to improve its working capital situation[21] - The board has implemented several measures to improve the group's liquidity and financial condition, including negotiations with contractors and lenders[106] - Management believes that the group will have sufficient operating funds to meet its financial obligations for at least the next twelve months[107] Accounting and Reporting Standards - The company adopted new Hong Kong Financial Reporting Standards effective from January 1, 2024, which did not result in significant changes to the financial statements[7] - The group plans to implement revised Hong Kong Financial Reporting Standards when they become effective[9] - The financial statements have been prepared on a historical cost basis, reflecting the fair value of assets and liabilities[13] - The group has not applied any new or revised Hong Kong Financial Reporting Standards that would have a significant impact on the financial statements for the current or prior years[12] - Significant accounting policies and estimates have been applied in preparing the financial statements, which may affect the reported amounts[15] - The independent auditor's report stated that they were unable to express an opinion on the consolidated financial statements due to significant uncertainties[103] Revenue Streams - Revenue from the publication and advertising business increased from approximately HKD 9,109,000 for the year ending December 31, 2023, to approximately HKD 13,207,000 for the year ending December 31, 2024[68] - Revenue from luxury goods sales increased from approximately HKD 3,120,000 for the year ending December 31, 2023, to approximately HKD 6,950,000 for the year ending December 31, 2024[73] - Revenue from online sales of beauty and cosmetics decreased from approximately HKD 11,321,000 for the year ending December 31, 2023, to approximately HKD 684,000 for the year ending December 31, 2024[70] - Other income increased from approximately HKD 154,000 for the year ending December 31, 2023, to approximately HKD 639,000 for the year ending December 31, 2024, primarily due to a government subsidy of HKD 629,000[77] Dividends and Shareholder Returns - The company did not declare any final dividend for the year ended December 31, 2024, consistent with 2023[42] - The company does not recommend the payment of a final dividend for the year ending December 31, 2024[65] - No dividends are proposed for the year ending December 31, 2024, as the group intends to retain sufficient capital for business expansion[98] - The company plans to closely monitor economic uncertainties and maintain vigilance in strategy formulation to pursue stable development and provide substantial returns to shareholders in 2025[74] Operational Costs and Expenses - Operating expenses increased by approximately 3% from about HKD 11,360,000 for the year ending December 31, 2023, to about HKD 11,688,000 for the year ending December 31, 2024[81] - The group’s financing costs increased from HKD 1,198,000 in 2023 to HKD 1,803,000 in 2024, an increase of approximately 50.4%[35] - The group incurred a loss of HKD 9,889,000 due to the forfeiture of a deposit related to advertising positions, which will be recorded as other losses for the year ended December 31, 2023[51] Trade Receivables and Payables - Trade receivables decreased from HKD 41,206,000 in 2023 to HKD 40,176,000 in 2024, with a significant increase in credit loss provisions from HKD 15,770,000 to HKD 31,578,000[50] - The aging analysis of trade receivables shows that overdue amounts over 365 days increased from HKD 25,166,000 in 2023 to HKD 35,404,000 in 2024[53] - The total trade payables increased from HKD 24,550,000 in 2023 to HKD 26,660,000 in 2024, with accrued expenses rising significantly from HKD 3,894,000 to HKD 5,785,000[56] Business Expansion and Acquisitions - The group acquired 50.1% of the issued share capital of Sun Peak Limited for a total consideration of HKD 1, aiming to diversify its business and product portfolio[61]