财务数据显示，截至2024年12月31日，惠陶集团实现营业总收入1929.96万元，同比减少11.5%；归母净 利润-1832.73万元，同比增长73.15%；毛利率44.13%，资产负债率235.96%。 5月28日，截至港股收盘，恒生指数下跌0.53%，报23258.31点。惠陶集团（08238.HK）收报0.245港元/ 股，上涨11.87%，成交量125.92万股，成交额29.71万港元，振幅25.11%。 最近一个月来，惠陶集团累计涨幅29.59%，今年来累计跌幅21.79%，跑输恒生指数16.56%的涨幅。 机构评级方面，目前暂无机构对该股做出投资评级建议。 行业估值方面，媒体及娱乐行业市盈率（TTM）平均值为-7.69倍，行业中值-1.23倍。惠陶集团市盈 率-0.96倍，行业排名第98位；其他华视集团控股（01111.HK）为1.73倍、耀星科技集团（08446.HK） 为2.9倍、瓦普思瑞元宇宙（08093.HK）为3.24倍、国恩控股（08121.HK）为3.94倍、HYPEBEAST （00150.HK）为6.36倍。 资料显示，惠陶集团(控股)有限公司于2015年2月16号成功在香港联 ...

行业估值方面，媒体及娱乐行业市盈率（TTM）平均值为-5.14倍，行业中值-1.21倍。惠陶集团市盈 率-0.55倍，行业排名第102位；其他华视集团控股（01111.HK）为1.73倍、耀星科技集团（08446.HK） 为2.77倍、瓦普思瑞元宇宙（08093.HK）为3.29倍、国恩控股（08121.HK）为3.38倍、中国创意控股 （08368.HK）为6.48倍。 资料显示，惠陶集团(控股)有限公司于2015年2月16号成功在香港联交所创业板上市,为本集团奠下里程 碑。自惠陶集圑的首份销售杂志《名车站》及首份免费杂志《名车站睇楼站生活站赠阅版》于2009年4 月出版以来,惠陶集圑至今已拥有六份杂志,并有多个销售点覆盖香港不同地点及1,000多个派发点,包括油 站、足浴店、发廊、咖啡店等。此外,本集团已建立一个超过100名客户的广泛客户群,行业广及汽车销售 代理、美容品牌拥有人、地产代理、珠宝、专业公司、宠物店等。在短短数年,惠陶集圑已发展至今日 的规模,这全是本集圑管理层及全体员工努力不懈的成果。 在2014年,受惠于新业务伙伴的新增赠阅点,本集圑的经营业绩稳步上扬。同时,2013年中出版的免费杂志 ...

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]

Financial Performance - For the six months ended June 30, 2024, Winto Group reported revenue of HK$7,672,000, a decrease of 29.8% compared to HK$10,877,000 in the same period of 2023[8]. - The gross profit for the period was HK$5,523,000, resulting in a gross margin of approximately 72%[8]. - The company incurred a loss before taxation of HK$406,000, a significant improvement from a loss of HK$13,722,000 in the prior year[8]. - Total comprehensive loss for the period was HK$406,000, compared to a loss of HK$13,722,000 in the same period last year[8]. - Operating expenses decreased to HK$5,422,000 from HK$8,824,000, reflecting a reduction of 38.5%[8]. - Other income for the period was HK$48,000, compared to HK$149,000 in the previous year[8]. - Finance costs amounted to HK$556,000, down from HK$1,172,000 in the prior year[8]. - For the six months ended June 30, 2024, the company reported a loss attributable to owners of the company of HK$112,000 compared to a loss of HK$13,478,000 for the same period in 2023, indicating a significant improvement[9]. - Basic and diluted loss per share improved to HK$0.02 from HK$2.37 year-on-year, reflecting a reduction in losses[9]. Cash Flow and Financing - Cash and cash equivalents increased to HK$11,427,000 as of June 30, 2024, up from HK$3,552,000 at the beginning of the year, reflecting improved cash flow management[13]. - The company generated net cash of HK$4,859,000 from financing activities during the six months ended June 30, 2024, compared to HK$4,017,000 in the same period of 2023[13]. - The company raised HK$6,479,000 from the issuance of new shares during the period, contributing to its financing activities[13]. - The Group's current ratio improved to approximately 0.6 times, up from 0.5 times at December 31, 2023[46]. - The Group's bank balance and cash increased to approximately HK$11,427,000 as of June 30, 2024, compared to approximately HK$3,552,000 at December 31, 2023[46]. - The gearing ratio as of June 30, 2024, was approximately 31%, an increase from approximately 29% at December 31, 2023[46]. Assets and Liabilities - As of June 30, 2024, total current liabilities increased to HK$71,594,000 from HK$70,709,000 at the end of 2023, indicating a slight rise in financial obligations[10]. - The company's net current liabilities improved to HK$25,766,000 from HK$31,962,000 at the end of 2023, showing a positive trend in liquidity[11]. - Total equity attributable to owners of the company decreased to HK$21,312,000 from HK$27,679,000 at the end of 2023, indicating a decline in net assets[12]. - The company’s total capital deficiency attributable to owners of the company was HK$21,312,000 as of June 30, 2024, compared to HK$27,679,000 at the end of 2023, indicating a reduction in capital shortfall[12]. Operational Efficiency and Strategy - The company is focused on improving operational efficiency and reducing costs to enhance profitability in future periods[8]. - Winto Group is exploring new market opportunities and potential product innovations to drive future growth[8]. - The Group will focus on uncertainties in the economic environment and formulate strategies for steady development and shareholder returns[35]. Corporate Governance - The company remains committed to adhering to the GEM Listing Rules and ensuring transparency in its financial reporting[3]. - The Company has complied with the Corporate Governance Code for the reporting period, except for Code Provision A.2.1, which requires the roles of chairman and CEO to be separated[70]. - The Company is committed to enhancing its corporate governance standards and meeting the expectations of shareholders and investors[71]. - The Board believes the current decision-making arrangement allows for prompt and effective responses to changing environments[70]. - The Company will continue to review its corporate governance practices to comply with regulatory requirements[71]. Shareholder Information - The issuance of 124,416,000 new shares was completed on 28 June 2024, increasing the total issued shares to 746,496,000[32]. - As of June 30, 2024, the Company had 746,496,000 shares in issue[59]. - Mr. Lui Man Wah holds a long position of 343,300 shares, representing approximately 0.05% of the Company's shares[53]. - Muhammad Shaifadila Binti holds a long position of 39,376,000 shares, representing approximately 5.27% of the Company's shares[58]. Risk Management - The Group's policy includes only dealing with creditworthy counterparties to mitigate credit risk, ensuring financial stability[51]. - The Group does not expect any significant currency or interest rate risks that would materially affect its operations[51]. - The Group has a credit policy in place to minimize risk, with ongoing monitoring of credit exposures and evaluations of major customers' financial positions[52]. - The credit risk on bank balances is limited due to counterparties being banks with high credit ratings[52]. - The Group does not require collateral for its financial assets[52]. Other Information - No dividend has been paid or proposed for the six months ended June 30, 2024, consistent with the same period in 2023[23]. - There were no significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the six months ended June 30, 2024[47]. - The Group had no material pledges of assets, significant contingent liabilities, or capital commitments as of June 30, 2024[47]. - The Audit Committee has reviewed the unaudited condensed consolidated financial results for the six months ended 30 June 2024 prior to Board approval[76]. - There were no significant events relevant to the business or financial performance of the Group after the reporting period up to the date of this report[75]. - The condensed consolidated financial results for the six months ended 30 June 2024 have not been audited by the Company's auditor[77].

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 （於開曼群島註冊成立的有限公司） （股份代號：8238） 截 至2024年6月30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的特色 GEM的 地 位，乃 為 相 比 起 其 他 在 聯 交 所 上 市 的 公 司 帶 有 較 高 投 資 風 險 的 中 小 型 公 司 提 供 一 個 上 市 的 市 場。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 一 般 為 中 小 型 公 司，在GEM買賣的證券可能會較 ...

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 （於開曼群島註冊成立的有限公司） （股份代號：8238） 有關截至2023年12月31日止年度之 年度報告之補充公告 兹 提 述 惠 陶 集 團（控 股）有 限 公 司（「本公司」，連 同 其 附 屬 公 司 統 稱「本集團」）於 2024年4月30日刊發之截至2023年12月31日 止 年 度（「2023財 年」）之 年 度 報 告（「2023 年年報」）。除 本 公 告 另 有 界 定 或 文 義 另 有 所 指 外，本 公 告 所 用 詞 彙 與 年 度 報 告 所 界 定 者 具 有 相 同 涵 義。 本 公 司 謹 此 向 股 東 及 本 公 司 潛 在 投 資 者 提 供 以 下 補 充 ...

Economic Environment - The macro-economic environment in 2023 was volatile due to global events, including tightened monetary policies and inflationary pressures, impacting business confidence [20]. - The Group plans to focus on uncertainties in the economic environment and formulate strategies for steady development in 2024 [39]. Business Performance - The Group recorded total revenue of approximately HK$23,550,000 for the year ended 31 December 2023, representing a decrease of approximately 32% from HK$34,645,000 for the year ended 31 December 2022 [25]. - The total gross profit for the year ended 31 December 2023 was approximately HK$6,375,000, a decrease of approximately 74% from HK$24,112,000 for the year ended 31 December 2022 [25]. - The loss attributable to the owners of the Company amounted to approximately HK$73,721,000 for the year ended 31 December 2023, compared to a profit of approximately HK$10,104,000 for the year ended 31 December 2022 [25]. - Revenue from the publications and advertising business decreased to approximately HK$9,109,000 for the year ended 31 December 2023, down from approximately HK$33,538,000 for the year ended 31 December 2022 [33]. - Revenue generated from online sales of beauty and cosmetics products amounted to approximately HK$11,321,000 for the year ended 31 December 2023 [37]. - Revenue from sales of luxury products was approximately HK$3,120,000 for the year ended 31 December 2023 [38]. - No revenue was generated from the exhibition and trade show business and related services for the year ended 31 December 2023, compared to approximately HK$1,107,000 for the year ended 31 December 2022 [36]. - Total revenue decreased by approximately 32% from approximately HK$34,645,000 for the year ended 31 December 2022 to approximately HK$23,550,000 for the year ended 31 December 2023, primarily due to reduced demand for advertisement in the Macau market [45]. - Revenue generated from publications and advertising business decreased by 73% to approximately HK$9,109,000 compared to approximately HK$33,538,000 for the year ended 31 December 2022 [49]. - Total gross profit decreased by approximately 74% from approximately HK$24,112,000 for the year ended 31 December 2022 to approximately HK$6,375,000 for the year ended 31 December 2023 [47]. - Other income decreased by approximately HK$2,052,000 from approximately HK$2,206,000 for the year ended 31 December 2022 to approximately HK$154,000 for the year ended 31 December 2023 [48]. - Other losses recorded approximately HK$56,802,000 for the year ended 31 December 2023, compared with other gains of approximately HK$2,055,000 for the year ended 31 December 2022 [54]. - Operating expenses decreased by approximately 8% from approximately HK$12,380,000 for the year ended 31 December 2022 to approximately HK$11,360,000 for the year ended 31 December 2023 [57]. Business Strategy - The Group expanded its business into fast-moving consumer goods and luxury products, aiming to create synergies with its existing advertising business [21]. - The Group aims to diversify its business portfolio by expanding into fast-moving consumer goods and luxury product sales [25]. - The Group is cautiously optimistic about its business outlook despite the challenging market conditions [21]. Financial Health - The current ratio of the Group as at 31 December 2023 was approximately 0.5 times compared to approximately 1.6 times as at 31 December 2022 [69]. - The gearing ratio of the Group was approximately 29% as at 31 December 2023, down from 38% in 2022 [71]. - Trade receivables decreased from approximately HK$33,997,000 to HK$25,436,000, with trade receivable turnover days decreasing from approximately 358 days to approximately 217 days [74]. - Trade receivables decreased from approximately HK$33,997,000 (after deducting HK$3,940,000 expected credit losses) to approximately HK$25,436,000 (after deducting HK$15,770,000 expected credit losses) as of December 31, 2023 [80]. - Trade receivables turnover days improved from approximately 358 days as of December 31, 2022, to approximately 217 days as of December 31, 2023 [80]. - Total employee headcount decreased from 17 in 2022 to 13 as of December 31, 2023, with total staff costs approximately HK$7,158,000 in 2023 compared to approximately HK$7,171,000 in 2022 [89][94]. - The Group did not have any material plans for significant investments or capital assets as of December 31, 2023 [87][92]. - There were no significant contingent liabilities as of December 31, 2023 [84]. - The Group maintained a conservative treasury policy, continuously assessing the financial status of customers to mitigate credit risk [81]. - The Group had no material pledges of assets as of December 31, 2023 [88][93]. Corporate Governance - Mr. Wong has extensive experience in corporate governance across various sectors including automobile, construction, and oil and gas [109]. - Mr. Wong served as CFO and company secretary for Yuanda China Holdings Limited, focusing on financing and investor relations [107]. - Ms. Wong has over 25 years of experience in finance and accounting, currently serving as group financial controller at RNP Jewelry Design Limited [110]. - Mr. Lin is a doctoral candidate in Applied Finance and has obtained an MBA in Finance from the City University of Hong Kong [116]. - Ms. Liu has over 10 years of experience in banking and capital management, with qualifications in fund and securities practices in PRC [121]. - Mr. Wong was involved in project management and financial consultation services at Huanian Xinxing Chanye Jituan Company Limited [106]. - Mr. Wong's career includes roles at KPMG Hong Kong and various Hong Kong listed companies, enhancing his financial expertise [107]. - Ms. Wong has been an independent non-executive director since October 2019, providing independent opinions to the board [110]. - Mr. Lin founded two companies focused on technology education and has participated in research on listed companies [116]. - Mr. Wong's previous roles include CFO at China Oilfield Technology Services Group Limited, specializing in enhanced oil recovery technology [107]. Shareholder Information - The Directors do not recommend the payment of a final dividend for the year ended 31 December 2023 [25]. - As of December 31, 2023, the Company did not have any reserves available for distribution to shareholders [139]. - For the year ended December 31, 2023, the Group's sales to the five largest customers accounted for approximately 26% of total sales, with the largest customer contributing about 12% [149]. - Purchases from the Group's five largest suppliers represented approximately 80% of total purchases, with the largest supplier accounting for around 24% [149]. - The Board does not recommend the payment of any final dividend for the year ended December 31, 2023 [136]. - The company has adopted a share option scheme to incentivize directors and eligible participants, which will expire on February 16, 2025 [169]. - As of December 31, 2023, no directors or chief executives had interests or short positions in shares or debentures that required notification [185]. - The company has no equity-linked agreements that may result in issuing shares during the year [166]. - There are no competing business interests among the directors or controlling shareholders [176]. - As of December 31, 2023, the company has 622,080,000 shares issued [189]. - Muhammad Shaifadila Binti holds 39,376,000 shares, representing approximately 6.33% of the total shareholding [192]. - The company confirmed compliance with the disclosure requirements under Chapter 20 of the GEM Listing Rules regarding related party transactions [195]. - There were no connected transactions subject to disclosure requirements under the GEM Listing Rules during the year [196]. - The company maintains a sufficient public float of not less than 25% of its issued shares as required under the GEM Listing Rules [197]. - The consolidated financial statements for the reporting period have been audited by Jon Gepsom CPA Limited [198]. - The ultimate beneficial owner of the shares is Mr. Lui Man Wah, who directly holds shares through Source Creation International Limited [189]. - There is duplication in the interests held by Mr. Lui Man Wah and Source Creation, representing the same block of shares [190]. - The company has complied with the disclosure requirements in accordance with Chapter 20 of the GEM Listing Rules [199]. - No other persons had interests or short positions in the company's shares that required disclosure as of December 31, 2023 [192]. Compliance and Risk Management - The Group's business operations focused on minimizing environmental damage and ensuring employee well-being, with no recorded non-compliance in environmental and social aspects [130]. - The Group will continue to engage with stakeholders on key material issues, including employee health and safety, labor standards, and customer data protection [130]. - The Directors' report includes a discussion on the Group's future business development and possible risks and uncertainties [129].

Financial Performance - Total revenue for the year ended December 31, 2023, was HKD 23,550,000, a decrease of 32.2% compared to HKD 34,645,000 in 2022[5] - Gross profit for the year was HKD 6,375,000, down 73.5% from HKD 24,112,000 in the previous year[5] - The company reported a net loss of HKD 74,661,000 for the year, compared to a profit of HKD 10,030,000 in 2022[5] - Basic loss per share was HKD 12.37, compared to earnings of HKD 2.00 per share in the prior year[5] - The group reported a net loss of approximately HKD 74,661,000 for the year ending December 31, 2023[30] - The loss attributable to the owners of the company for the year ended December 31, 2023, was approximately HKD 73,721,000, compared to a profit of HKD 10,104,000 for the year ended December 31, 2022[77] - The company recorded other losses of approximately HKD 56,802,000 for the year ended December 31, 2023, compared to other income of approximately HKD 2,055,000 for the year ended December 31, 2022[91] Assets and Liabilities - Non-current assets decreased to HKD 2,278,000 from HKD 13,619,000 in 2022[6] - Current assets decreased to HKD 38,747,000 from HKD 50,241,000 in the previous year[6] - Total liabilities increased to HKD 70,709,000 from HKD 32,134,000 in 2022, indicating a significant rise in financial obligations[6] - The company's total equity attributable to owners was a negative HKD 27,679,000, down from positive HKD 31,889,000 in 2022[7] - Current liabilities exceeded current assets by HKD 31,962,000 as of December 31, 2023[30] - Total liabilities exceeded total assets by HKD 29,684,000, raising significant doubts about the group's ability to continue as a going concern[31] - Trade receivables decreased from approximately HKD 33,997,000 (net of expected credit losses of HKD 3,940,000) to approximately HKD 25,436,000 (net of expected credit losses of HKD 15,770,000) for the year ended December 31, 2023[103] Cash Flow and Financing - The group has taken measures to alleviate cash flow pressure and improve its financial situation, including cash flow forecasts for at least the next twelve months[31] - The group is actively negotiating with third parties to secure new financing sources to support its operations[33] - The group is negotiating favorable terms with contractors regarding liabilities of approximately HKD 37,489,000 from early termination of contracts[125] - The group is in discussions with lenders to extend repayment terms for all loans, including overdue principal and interest[125] - The financial statements have been prepared on a going concern basis, contingent on the success of the measures implemented[123] Revenue Breakdown - Revenue from external customers for online sales was HKD 11,321,000, while revenue from exhibitions and luxury goods was HKD 3,120,000[36] - Revenue from the publishing and advertising business decreased by 73% to approximately HKD 9,109,000 for the year ended December 31, 2023, down from HKD 33,538,000 for the year ended December 31, 2022[81] - Revenue from online sales of beauty and cosmetics was approximately HKD 11,321,000 for the year ended December 31, 2023[83] - Revenue from luxury goods sales was approximately HKD 3,120,000 for the year ended December 31, 2023[85] - The exhibition and trade exhibition business generated no revenue for the year ended December 31, 2023, compared to approximately HKD 1,107,000 for the year ended December 31, 2022[82] Accounting Standards and Compliance - The group has adopted new Hong Kong Financial Reporting Standards effective from January 1, 2023, which did not result in significant changes to accounting policies or financial statement presentation[9] - The revisions to HKAS 1 and HKFRS 17 clarify the disclosure of significant accounting policies and the definition of accounting estimates, with no impact on the group's financial statements[10][11][12] - The group has not applied any of the newly issued but not yet effective Hong Kong Financial Reporting Standards, which are expected to have no significant impact on the consolidated financial statements[16][18] - The amendments to Hong Kong Financial Reporting Standard No. 10 and Hong Kong Accounting Standard No. 28 require full recognition of gains or losses from downstream transactions when investors sell or inject assets into their associates or joint ventures[19] - The amendments to Hong Kong Financial Reporting Standard No. 16 clarify the treatment of lease liabilities arising from sale and leaseback transactions, effective from January 1, 2024, with retrospective application allowed[20] Management and Future Outlook - The company plans to explore new market opportunities and enhance product development strategies moving forward[5] - The company plans to closely monitor uncertain economic factors in 2024 and aims for stable development to provide substantial returns to shareholders[87] - The management's ability to execute its plans and measures is subject to significant uncertainty, impacting the group's ability to continue operations[123] - The board has implemented several measures to improve liquidity and financial condition, including cash flow forecasts for at least the next twelve months[123]

Financial Performance - For the nine months ended September 30, 2023, the revenue was HK$12,333,000, a decrease of 13.4% compared to HK$14,258,000 in the same period of 2022[9]. - The gross profit for the nine months ended September 30, 2023, was a loss of HK$2,615,000, compared to a gross profit of HK$23,063,000 in the same period of 2022[9]. - The loss before taxation for the nine months ended September 30, 2023, was HK$23,102,000, compared to a profit of HK$12,216,000 in the same period of 2022[11]. - The total comprehensive expense for the period ended September 30, 2023, was HK$23,102,000, compared to a total comprehensive income of HK$12,216,000 in the same period of 2022[11]. - The basic and diluted loss per share for the nine months ended September 30, 2023, was HK$3.85, compared to a profit of HK$2.50 in the same period of 2022[11]. - For the nine months ended 30 September 2023, the Group reported a loss attributable to owners of the Company of approximately HK$22,569,000, compared to a profit of approximately HK$12,476,000 for the same period in 2022[61]. - Total revenue decreased by approximately HK$17,479,000 from approximately HK$31,737,000 for the nine months ended 30 September 2022 to approximately HK$14,258,000 for the nine months ended 30 September 2023[52]. - Gross profit turned into a gross loss of approximately HK$2,615,000 for the nine months ended 30 September 2023, down from a gross profit of approximately HK$23,063,000 for the same period in 2022[54]. Revenue Breakdown - The Group's revenue for the nine months ended 30 September 2023 was HK$14,258,000, a decrease of 55.1% compared to HK$31,737,000 for the same period in 2022[31]. - Revenue from publications and advertising income for the nine months ended 30 September 2023 was HK$5,336,000, down 55.5% from HK$11,986,000 in 2022[31]. - Outdoor advertising income decreased significantly to HK$629,000 for the nine months ended 30 September 2023, compared to HK$18,876,000 in the same period of 2022, representing a decline of 96.7%[31]. - The Group's sales of fast-moving consumer goods amounted to HK$8,293,000 for the nine months ended 30 September 2023, compared to HK$0 in the same period of 2022[31]. - The Group's provision of exhibition and trade show services generated no revenue for the nine months ended 30 September 2023, down from HK$875,000 in 2022[31]. Expenses and Costs - The operating expenses for the nine months ended September 30, 2023, were HK$11,651,000, compared to HK$9,340,000 in the same period of 2022, reflecting a 24.8% increase[9]. - The cost of sales increased from approximately HK$8,674,000 for the nine months ended 30 September 2022 to approximately HK$16,873,000 for the nine months ended 30 September 2023[53]. - Operating expenses increased by approximately HK$2,311,000 from approximately HK$9,340,000 for the nine months ended 30 September 2022 to approximately HK$11,651,000 for the nine months ended 30 September 2023[55]. - The finance costs for the nine months ended September 30, 2023, were HK$1,824,000, compared to HK$1,719,000 in the same period of 2022, indicating a 6.1% increase[9]. - The Group's finance costs amounted to approximately HK$1,824,000 for the nine months ended 30 September 2023, compared to HK$1,719,000 for the same period in 2022[60]. Share Issuance and Capital - The company issued new shares by way of placing, raising HK$14,515,000 during the nine months ended September 30, 2023[13]. - The net proceeds from a share placement completed on 3 April 2023 amounted to approximately HK$14.2 million, with approximately HK$8.5 million utilized as of the report date[63][67]. - As of September 30, 2023, the company had a total of 622,080,000 shares issued[73]. - Mr. Lui Man Wah holds 343,300 shares, representing approximately 0.06% of the issued share capital[73]. - Muhammad Shaifadila Binti is a beneficial owner of 39,376,000 shares, accounting for 6.33% of the issued share capital[76]. - During the nine months ended September 30, 2023, the company did not purchase, sell, or redeem any of its listed securities[81]. - The Share Option Scheme adopted on February 16, 2015, will expire on February 16, 2025, with all options granted canceled since October 16, 2019[80]. Corporate Governance - The Audit Committee reviewed the unaudited condensed consolidated financial results for the nine months ended September 30, 2023, prior to Board approval[88]. - The company has established an Audit Committee in accordance with GEM Listing Rules, comprising independent non-executive Directors[87]. - No competing business interests were reported by the Directors or controlling shareholders during the nine months ended September 30, 2023[82]. - The company is not aware of any other persons with interests or short positions in its shares that require disclosure as of September 30, 2023[77]. - The Group has not recognized any income tax expenses for the nine months ended 30 September 2023, as it does not have any assessable profit in Hong Kong[32]. Business Outlook - The Group remains cautiously optimistic about its business outlook despite the ongoing challenges in the advertising industry[48]. - The Group experienced a 240% increase in visitation to Macau in the first six months of 2023, reaching 11.6 million visitors compared to the same period in the previous year[46]. - The Group adopted new and revised HKFRSs, which did not have any significant effect on the results and financial position for the current and prior accounting periods[27].