Strategic Partnership - The company's indirect wholly-owned subsidiary, Macau Pass Group Holdings Limited, entered into a cooperation framework agreement with Gaode Asia Limited on February 8, 2024 [1] - The agreement aims to establish a strategic partnership in smart mobility and local services, leveraging the resources and expertise of both parties [1] - Key areas of cooperation include providing travel services for qualified users in Macau and offering local services such as merchant information and coupons to Gaode users visiting Macau [1] - The framework agreement has a term of three years from the effective date [1] Company Background - Gaode is a leading provider of mobile digital maps, navigation, and real-time traffic information services in China, offering a one-stop platform for navigation, local life, and ride-hailing services [1] - Gaode is an indirect wholly-owned subsidiary of Alibaba Group Holding Limited and is considered a connected person of the company under the GEM Listing Rules [1] Expected Benefits - The strategic partnership is expected to leverage the company's MPay electronic payment system, local marketing technology expertise, and Gaode's resources in smart mobility to expand and enrich MPay user scenarios [1] - The collaboration is anticipated to create synergies, providing convenient integrated services for Macau residents and tourists in shopping, travel, and entertainment [1] - The partnership is expected to contribute to the development of Macau as a smart city and generate long-term returns for the company and its shareholders [1]

Financial Performance - The company's revenue for the nine months ended September 30, 2023, was approximately HKD 447,700,000, an increase of about 80.8% compared to HKD 247,600,000 for the same period in 2022[3]. - The operating loss for the nine-month period was approximately HKD 23,000,000, a decrease from HKD 112,500,000 in the same period last year, primarily due to increased total revenue[4]. - The net profit for the nine months was approximately HKD 26,700,000, compared to a loss of HKD 124,600,000 in the previous year, marking a turnaround from loss to profit[4]. - The financing income net amount increased to approximately HKD 47,800,000 from HKD 17,800,000 in the previous year, contributing to the overall profit[4]. - The company reported a revenue of HKD 153,225,000 for the three months ended September 30, 2023, compared to HKD 114,331,000 for the same period in 2022[6]. - The total comprehensive income for the three months ended September 30, 2023, was a loss of HKD 2,199,000, a significant improvement from a loss of HKD 78,407,000 in Q3 2022[7]. - Basic earnings per share for the three months ended September 30, 2023, were HKD 0.035, compared to a loss per share of HKD 0.30 for the same period in 2022[12]. - The company reported a profit attributable to owners of HKD 28,191,000 for the nine months ended September 30, 2023, a recovery from a loss of HKD 119,793,000 in the same period of 2022[7]. Revenue Sources - Revenue from electronic payment and related services was approximately HKD 280,400,000, up from HKD 105,400,000 in the previous year, reflecting a significant increase due to the acquisition of a wholly-owned subsidiary in Macau[3]. - Revenue from electronic payment services for the three months ended September 30, 2023, was HKD 153,225,000, an increase of 34% from HKD 114,331,000 in the same period of 2022[10]. - The company generated HKD 34,825,000 from providing acquiring services to other payment platforms in Q3 2023, up from HKD 13,562,000 in Q3 2022, representing a growth of 157%[10]. - Lottery hardware sales reached HKD 53,404,000 for the three months ended September 30, 2023, compared to HKD 44,359,000 in the same period of 2022, reflecting an increase of 21%[10]. - Revenue from lottery ticket sales through retail outlets increased by approximately 68% compared to the same period in 2022, driven by higher average sales per outlet and a 10% increase in the number of retail points[36]. Operational Expenses - Employee benefit expenses increased by approximately HKD 33,800,000 to HKD 123,400,000 during the nine-month period[4]. - Other operating expenses rose by approximately HKD 87.2 million to about HKD 239.1 million, primarily due to increased service fees paid to other payment service providers[49]. Market Trends and Developments - In Q3 2023, the total transaction value of electronic payments in Macau reached approximately MOP 139.9 billion, representing a year-on-year growth of about 13.8%[20]. - The number of mobile payment transactions in Macau increased to approximately 1.43 billion in the first half of 2023, reflecting a year-on-year growth of about 8.3%[20]. - The electronic payment market in Macau has seen a significant increase, with mobile payment transaction numbers rising from approximately 193 million in 2021 to about 266 million in 2022, a year-on-year growth of approximately 37.8%[20]. - The total transaction value for electronic payments in Macau grew from approximately MOP 18.52 billion in 2021 to about MOP 25.86 billion in 2022, marking a year-on-year increase of approximately 39.6%[20]. - Over 90% of Macau merchants have upgraded to the "Easy to Use" payment system since its launch, which allows acceptance of multiple electronic payment methods through a single terminal or QR code[20]. Strategic Initiatives - The company aims to enhance its hardware business by expanding non-lottery hardware products into the retail sector[19]. - Future strategies include seeking overseas opportunities and forming strategic partnerships with local partners in Asia to globalize the business[19]. - The company plans to optimize the technical capabilities of POS systems to provide better services to merchants in Macau[19]. - The group continues to explore strategic partnerships with Alibaba and Ant Group to expand e-commerce and digital media entertainment opportunities[32]. - The board has approved a new strategic initiative aimed at diversifying revenue streams, particularly in the e-wallet segment[89]. Shareholder Information - As of September 30, 2023, Ali Fortune holds 6,502,723,993 shares, representing approximately 55.71% of the total issued share capital[72]. - Maxprofit Global Inc. owns 2,006,250,000 shares, accounting for 17.19% of the total issued share capital[74]. - The total number of issued shares as of September 30, 2023, is 11,672,342,235[74]. - The company has a complex ownership structure involving multiple entities, including Alibaba Investment Limited and API Holdings Limited, which control Ali Fortune[75]. Regulatory and Compliance - The audit committee, consisting of three independent non-executive directors, reviewed the financial statements for the nine-month period, ensuring compliance with applicable accounting standards[80]. - The company has adopted the GEM Listing Rules regarding securities trading by directors, with no reported violations during the nine-month period[81]. - The company is currently navigating regulatory processes that may impact its ownership structure and shareholder agreements[76]. Future Outlook - The company provided a positive outlook for Q4 2023, projecting a revenue growth of 20% year-on-year[89]. - New product launches are expected to contribute an additional 10% to overall revenue in the next quarter[89]. - The company is expanding its market presence in Macau, aiming for a 30% increase in market share by the end of 2024[89].

Financial Performance - The group's revenue for the nine months ended September 30, 2023, was approximately HKD 447.7 million, an increase of about 80.8% compared to HKD 247.6 million for the same period in 2022[2]. - The group reported a profit of approximately HKD 26.7 million for the nine months, a significant turnaround from a loss of HKD 124.6 million in the same period last year[3]. - Net financing income increased to approximately HKD 47.8 million, up from HKD 17.8 million in the previous year[3]. - The total comprehensive loss for the nine months was approximately HKD 534,000, compared to a loss of HKD 194.9 million in the previous year[6]. - Basic earnings per share for the nine months was HKD 0.247, compared to a loss of HKD 1.05 per share in the same period last year[6]. - The group experienced a significant increase in lottery-related revenue, contributing approximately HKD 167.3 million, up from HKD 142.2 million in the previous year[2]. - The operating loss for the nine months was approximately HKD 23 million, a reduction from HKD 112.5 million in the same period last year[5]. - Operating expenses for the nine-month period rose by approximately HKD 87.2 million to about HKD 239.1 million, mainly due to increased service fees and costs associated with the electronic payment services[44]. - The company reported total revenue of HKD 447,657,000 for the nine months ended September 30, 2023, compared to HKD 247,598,000 for the same period in 2022, reflecting an increase of 81%[9]. Revenue Sources - Revenue from electronic payment and related services was approximately HKD 280.4 million, up from HKD 105.4 million in the previous year, driven by the acquisition of a wholly-owned subsidiary in Macau and an increase in tourist numbers[2]. - Revenue from electronic payment services reached HKD 74,486,000 for the nine months ended September 30, 2023, up 48% from HKD 50,154,000 in the previous year[9]. - Revenue from payment card services and related services was HKD 15,701,000 for the three months ended September 30, 2023, down 45% from HKD 28,653,000 in the same period last year[9]. - Revenue from electronic wallet services surged to HKD 24,326,000 for the three months ended September 30, 2023, compared to HKD 11,053,000 in the previous year, marking a 120% increase[9]. - Revenue from lottery and related businesses increased by approximately HKD 25.1 million to about HKD 167.3 million, driven by the expansion of the lottery distribution network and increased sales post-pandemic[43]. - Revenue from hardware sales in the lottery segment was HKD 53,404,000 for the three months ended September 30, 2023, an increase of 20% from HKD 44,359,000 in the same period last year[9]. Market and Economic Context - The total transaction value of mobile payments in Macau increased from approximately MOP 18.52 billion in 2021 to about MOP 25.86 billion in 2022, representing a year-on-year growth of approximately 39.6%[18]. - The number of mobile payment transactions in Macau rose from around 193 million in 2021 to approximately 266 million in 2022, reflecting a year-on-year increase of about 37.8%[18]. - In the first half of 2023, the total transaction value reached approximately MOP 13.99 billion, showing a year-on-year growth of about 13.8%[18]. - The number of mobile payment transactions in the first half of 2023 was around 143 million, marking a year-on-year increase of approximately 8.3%[18]. - In Q2 2023, Macao's economy grew by 117.5% year-on-year, driven by a 211.9% increase in service exports and a 321.7% rise in inbound tourists[20]. - In September 2023, the number of inbound tourists to Macao increased 3.1 times year-on-year to 2.3 million, with total inbound tourists for the first three quarters reaching 19.92 million, a 3.6 times increase[20]. Strategic Initiatives and Future Plans - The company aims to expand its hardware products into the non-lottery hardware sector to broaden its hardware business range[17]. - The company plans to enhance its electronic payment services in Macau while expanding into complementary fields such as e-commerce and marketing technology services[17]. - The company will continue to seek overseas opportunities and engage in strategic partnerships with local partners in Asia to globalize its business[17]. - The company is committed to developing its lottery technology and services as a core area of expertise, leveraging its experience and innovative technology[16]. - The group entered a strategic cooperation agreement in February 2023 with Galaxy Entertainment Group, Beijing Damai Cultural Media Development Co., and Alibaba Pictures to enhance Macau's cultural entertainment industry[35]. - The company is exploring partnerships with local businesses to drive further market penetration[69]. User Engagement and Market Presence - The company reported a significant increase in user engagement, with a year-over-year growth of 25% in active users[69]. - User retention rates improved to 85%, up from 80% last year[69]. - The registered users of MPay account for over 90% of the local population, indicating a strong market presence[27]. Shareholding and Corporate Governance - As of September 30, 2023, the total number of shares issued by the company is 11,672,342,235[48]. - The company has no other disclosures regarding interests or short positions held by directors or senior management in the company or its affiliates as of September 30, 2023[52]. - The company has adopted the GEM Listing Rules regarding securities trading by directors, with no reported violations during the nine-month period[60]. - The audit committee reviewed the financial statements for the nine-month period, confirming compliance with applicable accounting standards[61]. Technological Development and R&D - The company is investing HKD 100 million in R&D for new technologies aimed at enhancing user experience[69]. - The group continues to invest resources to improve its technological infrastructure and aims for long-term sustainable growth for shareholders[42].

Financial Performance - The group's revenue for the six months ended June 30, 2023, was approximately HKD 294,400,000, an increase of about 120.9% compared to HKD 133,300,000 for the same period in 2022[5] - The operating loss for the six months was approximately HKD 12,400,000, a significant improvement from an operating loss of HKD 68,500,000 in the same period last year[6] - The net profit for the six months was approximately HKD 22,900,000, a turnaround from a loss of HKD 84,900,000 in the previous year[6] - Total comprehensive income for the six months was HKD 1,665,000, compared to a loss of HKD 116,491,000 in the same period last year[12] - The company reported a net profit of HKD 24,157,000 for the six months ended June 30, 2023, a significant improvement from a loss of HKD 85,194,000 in the same period of 2022[36] Revenue Breakdown - Revenue from lottery and related businesses contributed approximately HKD 92,300,000, while electronic payment and related services in Macau contributed approximately HKD 202,100,000, reflecting increases of HKD 9,900,000 and HKD 151,200,000 respectively[5] - Revenue from external customers in mainland China reached HKD 92,276,000 for the six months ended June 30, 2023, up from HKD 82,358,000 in the same period of 2022, representing a growth of 12.3%[32] - Revenue from external customers in Macau surged to HKD 202,156,000 for the six months ended June 30, 2023, compared to HKD 50,909,000 in the prior year, marking an increase of 295.5%[32] - Revenue from electronic payment services, including card services and e-wallets, increased to HKD 58,785,000 for the six months ended June 30, 2023, compared to HKD 21,501,000 in the same period of 2022, reflecting a growth of approximately 172.5%[28] Expenses and Liabilities - The group reported an increase in employee benefit expenses to approximately HKD 77,300,000, up from HKD 55,466,000 in the previous year[8] - Total operating expenses for the six months ended June 30, 2023, amounted to HKD 166,504,000, significantly higher than HKD 86,341,000 in the same period of 2022, indicating an increase of 92.9%[33] - The company's current liabilities decreased to HKD 1,718,736 from HKD 286,949, indicating a significant reduction in trade payables and other payables[16] - The total liabilities of the company decreased to HKD 3,759,265 from HKD 931,091, reflecting a reduction in non-current liabilities[17] Cash Flow and Assets - The net cash used in operating activities for the six months ended June 30, 2023, was HKD (2,648,831), compared to HKD 1,717,595 generated in the same period last year[22] - The company's cash and cash equivalents decreased by HKD 2,726,901 during the six-month period, with a starting balance of HKD 4,015,110[22] - As of June 30, 2023, the total assets of the company amounted to HKD 6,422,104, a decrease from HKD 3,571,880 in the previous period[14] - The net asset value of the company as of June 30, 2023, was HKD 2,640,789, slightly down from HKD 2,662,839 in the previous period[18] Strategic Focus and Future Plans - The company plans to expand its electronic payment services in Macau, leveraging the growth in digital transactions and e-commerce[29] - The lottery business remains a key focus, with ongoing efforts to enhance hardware sales and related services in mainland China[29] - The company is committed to exploring new technologies and products to strengthen its market position and drive future growth[29] - The group aims to strengthen its infrastructure and platforms to support the digital transformation of financial services in the Greater Bay Area[73] Market and Economic Context - The group experienced a significant increase in tourist numbers in Macau, contributing to the revenue growth in electronic payment services[5] - The electronic payment market in Macau saw mobile payment transactions increase from approximately 193 million in 2021 to about 266 million in 2022, representing a year-on-year growth of approximately 37.8%[51] - The total transaction value in Macau's electronic payment market rose from around MOP 18.52 billion in 2021 to approximately MOP 25.86 billion in 2022, marking a year-on-year increase of about 39.6%[51] - In the first quarter of 2023, Macau's economy recorded a year-on-year real growth of 38.8%, driven by the relaxation of entry quarantine measures and the resumption of tourism[52] Corporate Governance and Shareholder Information - The company has complied with the corporate governance code, with some deviations noted regarding the roles of the chairman and CEO[125] - The company did not hold private meetings between the chairman and independent non-executive directors during the six-month period[126] - The company has adopted new corporate governance practices to enhance transparency and protect shareholder interests[124] - The ownership percentage of the chairman, Mr. Sun Hao, in the company is approximately 17.652%[96]

Financial Performance - The group's revenue for the six months ended June 30, 2023, was approximately HKD 294,400,000, an increase of about 120.9% compared to HKD 133,300,000 for the same period in 2022[4]. - The operating loss for the six months was approximately HKD 12,400,000, a significant improvement from an operating loss of HKD 68,500,000 in the same period last year[4]. - The net profit for the six months was approximately HKD 22,900,000, a turnaround from a loss of HKD 84,900,000 in the previous year[4]. - Financing income net increased by approximately HKD 26,500,000 to about HKD 35,600,000 compared to HKD 9,100,000 for the same period in 2022[4]. - The total comprehensive income for the six months was HKD 1,665, compared to a loss of HKD 116,491,000 in the same period last year[7]. - The basic earnings per share for the six months was HKD 0.212, compared to a loss of HKD 0.74 for the same period in 2022[7]. - Adjusted EBITDA for the six months ended June 30, 2023, was HKD 40,939,000, compared to a loss of HKD 11,849,000 in the same period of 2022[19]. - The company reported a net profit of HKD 24,157,000 for the six months ended June 30, 2023, a turnaround from a loss of HKD 85,194,000 in the same period of 2022[25]. Revenue Sources - Revenue contributions primarily came from lottery and related businesses amounting to approximately HKD 92,300,000 and electronic payment services in Macau amounting to approximately HKD 202,100,000, reflecting increases of HKD 9,900,000 and HKD 151,200,000 respectively[4]. - The group reported total revenue of HKD 294,432,000 for the six months ended June 30, 2023, representing an increase of 109.5% compared to HKD 133,267,000 for the same period in 2022[17]. - The segment revenue from electronic payment and related services reached HKD 189,653,000, up 305.5% from HKD 46,650,000 in 2022[19]. - Revenue from external customers in Macau surged to HKD 202,156,000 for the six months ended June 30, 2023, compared to HKD 50,909,000 in 2022, marking a 295.5% increase[21]. - The group’s life services, gaming and entertainment, and marketing technology services generated revenue of HKD 11,264,000 for the six months ended June 30, 2023, up from HKD 1,470,000 in the same period of 2022[17]. Expenses and Liabilities - Employee benefit expenses increased by approximately HKD 21,800,000 to about HKD 77,300,000 during the six months[4]. - The company incurred operating expenses of HKD 166,504,000 for the six months ended June 30, 2023, compared to HKD 86,341,000 in 2022, reflecting a 92.9% increase[22]. - Total liabilities decreased to HKD 931,091 thousand from HKD 3,759,265 thousand, indicating a reduction of approximately 75.2%[9]. - The company reported a net cash outflow from operating activities of HKD (2,648,831) thousand for the six months ended June 30, 2023, compared to a net inflow of HKD 1,717,595 thousand for the same period in 2022[11]. Assets and Equity - As of June 30, 2023, total assets decreased to HKD 3,571,880 thousand from HKD 6,422,104 thousand as of December 31, 2022, representing a decline of approximately 44.5%[8]. - The net asset value as of June 30, 2023, was HKD 2,640,789 thousand, slightly down from HKD 2,662,839 thousand as of December 31, 2022, a decrease of about 0.8%[9]. - The company’s total equity as of June 30, 2023, was HKD 2,640,789 thousand, reflecting a minor decrease from HKD 2,662,839 thousand as of December 31, 2022[9]. Market and Strategic Developments - The group plans to continue expanding its electronic payment services in Macau, leveraging the growth in digital transactions[18]. - The company aims to expand its hardware product range into non-lottery hardware for the retail sector, enhancing its hardware business[38]. - The group plans to seek overseas opportunities and engage in strategic partnerships with local partners in Asia to globalize its business[38]. - The group plans to continue exploring strategic cooperation with Alibaba Group to expand e-commerce and digital media entertainment[62]. - The group aims to support the digital transformation of financial services in the Greater Bay Area through infrastructure and platform enhancements[62]. Corporate Governance and Shareholder Information - The company aims to maintain high standards of corporate governance to enhance transparency and protect shareholder interests[103]. - The board believes it is premature to determine a dividend policy due to the lack of distributable reserves calculated under Bermuda law[105]. - The company has established a mechanism for checks and balances to ensure fair representation of shareholders' interests[104]. - The total number of shares held by major shareholders is disclosed, with no individual holding 5% or more of the voting shares[87]. Future Outlook - The company has set a future revenue guidance of HKD 850 million for the next quarter, indicating a projected growth of 19%[111]. - New product launches are expected to contribute an additional HKD 100 million in revenue over the next fiscal year[111]. - The introduction of the MPay electronic wallet is anticipated to drive user growth by 40% in the next six months[111]. - The company plans to explore strategic acquisitions to bolster its service offerings, with a budget of HKD 200 million allocated for potential deals[111].

Revenue and Profit Performance - Revenue for the first quarter of 2023 was approximately HKD 169.9 million, a 381.6% increase compared to HKD 35.3 million in the same period in 2022[3] - Total revenue for Q1 2023 reached 169,873 thousand HKD, a significant increase from 35,272 thousand HKD in Q1 2022[11] - The company's revenue for Q1 2023 reached approximately HKD 169.9 million, a 381.6% increase compared to HKD 35.3 million in Q1 2022, driven by lottery-related business (HKD 53.2 million) and electronic payment services in Macau (HKD 116.7 million)[41] - Operating profit for the first quarter of 2023 was approximately HKD 15.5 million, compared to an operating loss of HKD 12.6 million in the same period in 2022[3] - Net profit for the first quarter of 2023 was approximately HKD 37.2 million, compared to a net loss of HKD 10.8 million in the same period in 2022[3] - Basic earnings per share for the first quarter of 2023 were 0.323 HK cents, compared to a loss of 0.10 HK cents in the same period in 2022[8] - Basic earnings per share for Q1 2023 were 36,889 thousand HKD, a turnaround from a loss of 11,130 thousand HKD in Q1 2022[13] - Operating profit for the quarter was HKD 15.5 million, compared to an operating loss of HKD 12.6 million in the same period last year, driven by increased revenue and other income[42] - Net profit for the quarter was HKD 37.2 million, compared to a net loss of HKD 10.8 million in the same period last year, largely due to increased financing income[42] Lottery Business - Lottery and related business contributed approximately HKD 53.2 million in revenue, up from HKD 31.8 million in the same period in 2022, driven by increased sales of lottery hardware[3] - Lottery hardware sales surged to 33,854 thousand HKD in Q1 2023, up from 15,735 thousand HKD in Q1 2022[11] - Lottery hardware sales revenue increased by HKD 18.1 million to HKD 53.2 million in Q1 2023, attributed to delayed deliveries due to COVID-19 outbreaks in late 2022[41] - In Q1 2023, the company's lottery sales revenue through retail outlets increased by approximately 48% YoY, driven by a 23% increase in the number of retail outlets and higher average sales per outlet[26] - The company operates dedicated lottery resource channels on Taobao and Alipay, providing services such as lottery results and retail outlet information, aiming to integrate online and offline resources[27] - The company continues to focus on R&D to expand and enhance its lottery hardware product range, maintaining its position as a leading supplier in China[25] - The company plans to expand its lottery distribution channels, explore domestic lower-tier markets, and enhance user experience through customized features on Taobao and Alipay's lottery resource channels[40] - The company is preparing for potential online lottery product distribution, leveraging partnerships with Alibaba Group and Ant Group[28] Electronic Payment Services - Electronic payment services in Macau contributed approximately HKD 116.7 million in revenue, a significant increase from HKD 3.5 million in the same period in 2022, due to the full consolidation of Macau Pass and increased tourist numbers[3] - Electronic payment services revenue soared to 109,471 thousand HKD in Q1 2023, compared to 3,355 thousand HKD in Q1 2022[11] - Electronic payment service revenue surged by HKD 113.2 million to HKD 116.7 million in Q1 2023, primarily due to the full consolidation of Macau Pass's revenue and increased tourist arrivals in Macau[41] - The company's indirect wholly-owned subsidiary, Macau Pass, operates the MPay e-wallet[78] - MPay, the company's e-wallet service, has a registered user base exceeding 90% of Macau's total resident population[31] - MPay has partnered with Alipay+ to enable cross-border payments, allowing Macau residents to use MOP for purchases on Taobao (Macau)[31] - The company provides comprehensive payment terminal and acquiring services, enabling merchants to accept various payment methods, including Alipay and WeChat Pay[32] - The company is committed to supporting Macau's economic recovery by collaborating with the government on initiatives like the "Electronic Consumption Benefit Plan" and facilitating digital transformation for local merchants[39] - Over 90% of Macau merchants have upgraded to the "Easy Pay" system, a government initiative to promote electronic payments, contributing to the growth of Macau's digital payment market[22] - The cumulative issuance of Macau Pass cards has exceeded 4.5 million, covering various payment scenarios including public transportation, retail, and government services[30] Financial Metrics and Expenses - Net financing income increased to HKD 22.7 million, up from HKD 3.4 million in the same period in 2022[3] - Depreciation and amortization expenses increased to HKD 17.2 million, up from HKD 4.9 million in the same period in 2022[3] - Other income increased to HKD 5.0 million, up from HKD 1.2 million in the same period in 2022[6] - Other operating expenses increased by HKD 72.4 million to HKD 92.7 million, primarily due to the inclusion of Macau Pass Group's expenses, including service fees of HKD 39.9 million and marketing expenses of HKD 21.2 million[42] - Employee benefits expenses increased by HKD 20.2 million to HKD 40.7 million, mainly due to the inclusion of Macau Pass Group's employee benefits after the acquisition[42] - The net proceeds from the subscription amounted to approximately HKD 2.38 billion, with HKD 36.8 million used for lottery distribution and general corporate purposes during the quarter[43] - As of March 31, 2023, the remaining net proceeds of HKD 4.1 million were held in the company's bank account[43] - The company expects to utilize the remaining funds allocated to lottery distribution by December 31, 2023[45] Shareholder and Ownership Structure - Sun Hao, the Chairman and CEO, holds approximately 17.584% of the company's shares, including 2,006,250,000 shares held under Maxprofit Global Inc[51][52] - Ali Fortune holds 6,502,723,993 shares, representing 55.71% of the company's total issued share capital[61] - Maxprofit Global Inc holds 2,006,250,000 shares, representing 17.19% of the company's total issued share capital[62] - Rainwood Resources Limited holds 584,515,224 shares, representing 5.01% of the company's total issued share capital[62] - Li Jie holds 22,312,086 shares in Alibaba Pictures Group, representing 0.08% of its total issued share capital[57] - Liu Zheng holds 5,460,000 Class A shares and 6,200,000 Class B shares in Cainiao Smart Logistics Network, representing 1.14% and 3.59% of the respective share classes[58] - Alibaba Investment Limited and API Holdings Limited each hold 60% and 40% of Ali Fortune's issued share capital respectively[63] - Alibaba Holdings holds 100% of the issued share capital of AIL[64] - API (Hong Kong) Investment Limited holds 100% of the issued share capital of API Holdings[64] - Shanghai Yunju Venture Capital Investment Co., Ltd. holds 100% of the issued share capital of API (Hong Kong) Investment Limited[64] - Ant Group holds 100% equity in Shanghai Yunju[64] - Junhan and Junao hold approximately 31.04% and 22.42% equity in Ant Group, respectively, totaling approximately 53.46%[64] - AIL, Alibaba Holdings, API Holdings, API (Hong Kong) Investment Limited, Shanghai Yunju, Ant Group, Junhan, Junao, Yunbo, Jack Ma, Eric Jing, Jiang Fang, and Hu Xiaoming are deemed to have interests in a total of 6,502,723,993 shares[65] - Sun Hao is deemed to have interests in 2,006,250,000 shares through his equity in Maxprofit Global Inc[65] - Zhang Liqun's equity in Rainwood Resources Limited decreased from 100% to 52%, and he is deemed to have interests in 584,515,224 shares[65] - Ant Bank, a joint venture company, is 66.7% owned by two indirect wholly-owned subsidiaries of Ant Group and 33.3% owned by an associate company indirectly owned by the company[68] Strategic Initiatives and Expansion - The company aims to expand its electronic payment, lottery, mobile gaming, and entertainment content services globally, leveraging its expertise as the exclusive lottery platform for Alibaba Group and Ant Group[19] - The company plans to extend its hardware product range beyond lottery to non-lottery retail hardware, while optimizing POS technology for merchants in Macau[20] - The company plans to globalize its business by seeking overseas opportunities, launching proprietary systems, and forming strategic partnerships in Asia[20] - The company will continue to invest in improving its technical infrastructure and explore opportunities in the hardware sector, leveraging its expertise in lottery hardware for retail markets[40] - The company will explore strategic partnerships with Alibaba Group to expand e-commerce and digital media entertainment, aiming to create diversified commercial scenarios and enhance Macau's electronic payment ecosystem[39] - The company collaborated with Alibaba Group and Alibaba Pictures to organize cultural and entertainment events in Macau, aiming to enhance the local entertainment market[34] - The company launched the "Macau Consumption Rewards" campaign, offering discounts and incentives through Alipay+ to attract tourists and boost local businesses[33] - The company is expanding its hardware business into retail smart hardware, leveraging its existing R&D capabilities[35] Market and Industry Trends - Macau's mobile payment transactions grew by 37.8% YoY to 266 million transactions in 2022, with total transaction value increasing by 39.6% YoY to MOP 25.86 billion[22] - China's lottery sales in January and February 2023 reached RMB 75 billion, a 40.8% YoY increase, with sports lottery sales growing by 69.2% YoY to RMB 50.6 billion[23] - Macau's inbound tourists in March 2023 reached 1.96 million, a 271.4% YoY increase, with Q1 2023 total visitors exceeding 4.96 million, up 1.6x YoY[21] - The Macau government's third-round "Electronic Consumption Benefit Plan" provided eligible residents with MOP 5,000 in initial funds and MOP 3,000 in discount subsidies, boosting local demand[30] Share Awards and Corporate Governance - 23 employees were granted 11,300,000 shares under the share award plan, with 600,000 shares vested and 8,950,000 shares forfeited during the quarter[74] - The total number of shares granted under the share award plan cannot exceed 6% of the total issued shares (630,852,526 shares) without shareholder approval[74] - The trustee purchased 5,208,000 shares on the stock exchange during the quarter[74] - The maximum number of new shares that can be issued under the share award plan is 3% of the total issued shares (315,426,263 shares)[74] - The total issued shares as of the adoption date were 10,514,208,770 shares[74] - The company did not purchase, sell, or redeem any of its listed securities during the quarter[74] - Ali Fortune subscribed to 4,817,399,245 new shares and convertible bonds with a total principal amount of HKD 712,582,483, completed on August 10, 2016[79] - The company's shares are listed on the GEM of the Hong Kong Stock Exchange[76] Joint Ventures and Subsidiaries - The company completed the acquisition of Macau Pass in March 2022, making it an indirect wholly-owned subsidiary[69] - The company holds a 30% interest in Ant Bank (Macau) through an associate company[76] - Ant Bank in Macau, a joint venture with 66.7% ownership by Ant Group's subsidiaries and 33.3% by the company's affiliate, officially launched its operations in April 2019, offering mobile payment services, deposits, loans, and remittance services to Macau residents and SMEs[38] - Ant Bank introduced Alipay (Macau) e-wallet payment services in September 2019, providing contactless online financial services to Macau residents and SMEs, leveraging Ant Group's expertise in comprehensive financial services[38] - The company's joint venture, Paytm First Games, saw a 40% revenue increase in 2022 compared to 2021, driven by growth in India's mobile gaming market[37]

Financial Performance - The group's revenue for the three months ended March 31, 2023, was approximately HKD 169.9 million, an increase of about 381.6% compared to HKD 35.3 million for the same period in 2022[3]. - Operating profit for the three-month period was approximately HKD 15.5 million, a turnaround from an operating loss of approximately HKD 12.6 million in the same period last year[3]. - The net profit for the three months was approximately HKD 37.2 million, compared to a loss of approximately HKD 10.8 million in the previous year[3]. - Total comprehensive income for the period was approximately HKD 49.2 million, compared to a loss of approximately HKD 6.8 million in the previous year[6]. - Basic earnings per share for the period was HKD 0.323, compared to a loss per share of HKD 0.10 in the same period last year[6]. - The net financing income increased by approximately HKD 19.3 million to about HKD 22.7 million, compared to HKD 3.4 million in the same period last year[3]. - Operating expenses for the three-month period increased by approximately HKD 72.4 million to about HKD 92.7 million, largely due to costs associated with Macau Tong and marketing expenses[40]. - Employee benefits expenses rose by approximately HKD 20.2 million to about HKD 40.7 million, mainly due to the acquisition of Macau Tong[40]. Revenue Sources - Revenue contributions primarily came from lottery and related businesses amounting to approximately HKD 53.2 million and electronic payment services in Macau amounting to approximately HKD 116.7 million, compared to HKD 31.8 million and HKD 3.5 million respectively in the previous year[3]. - The increase in revenue was primarily due to the consolidation of the results of the wholly-owned subsidiary in Macau, which was only included in the financial statements for a short period in the previous year[3]. - Revenue from lottery and related businesses was approximately HKD 53.2 million, up by HKD 21.4 million, primarily due to increased lottery hardware sales and expanded retail network efforts[39]. - Revenue from electronic payment services reached approximately HKD 116.7 million, an increase of HKD 113.2 million, attributed to the full consolidation of Macau Tong's revenue and the rise in tourist numbers[39]. - The total revenue from gaming and entertainment services was HKD 5,872,000, up from HKD 1,030,000, reflecting a growth of 469%[9]. - Sales of lottery hardware reached HKD 33,854,000, up from HKD 15,735,000, representing a growth of 115% year-over-year[9]. - Electronic payment services generated HKD 109,471,000, a substantial increase from HKD 3,355,000, marking a growth of 3170%[9]. Strategic Plans and Partnerships - The company aims to expand its electronic payment services and lottery technology, leveraging its affiliation with Alibaba Group and Ant Group[16]. - The company plans to enhance its core competencies in online and mobile gaming content, particularly in Macau, while expanding into complementary sectors[16]. - The group aims to strengthen its infrastructure and platforms to support the digital transformation of financial services in the Greater Bay Area[37]. - The group will continue to explore strategic cooperation with Alibaba Group to expand e-commerce and digital media entertainment[37]. - A strategic cooperation agreement was signed with Galaxy Entertainment Group and Alibaba Pictures to enhance the development of Macau's cultural and entertainment industry[31]. - The company continues to explore strategic partnerships with Alibaba Group and Ant Group to expand e-commerce and digital media entertainment[28]. Market and Industry Insights - In March 2023, the number of inbound tourists to Macau reached approximately 1.96 million, a year-on-year increase of about 271.4%[18]. - Macau's mobile payment transactions increased from approximately 193 million in 2021 to about 266 million in 2022, representing a year-on-year growth of approximately 37.8%[18]. - The total transaction value of mobile payments rose from approximately MOP 18.52 billion in 2021 to about MOP 25.86 billion in 2022, a year-on-year increase of approximately 39.6%[18]. - In January and February 2023, China's lottery sales amounted to approximately RMB 75 billion, a year-on-year increase of about 40.8%[20]. - The group reported a 48% increase in revenue from lottery sales through retail outlets in the last three months compared to the same period in 2022[23]. - The number of retail outlets for lottery sales increased by approximately 23% compared to the same period in 2022[23]. Shareholder and Corporate Governance - The board of directors did not recommend the payment of an interim dividend for the three-month period[3]. - The company has a significant concentration of ownership, with major shareholders collectively holding over 55% of the total issued shares[54]. - The agreements among major shareholders may impact future governance and control of the company[56]. - The company is subject to regulatory approvals for any changes in shareholder agreements or ownership structures[56]. - The board of directors includes both executive and independent non-executive members, ensuring diverse governance[71]. - The company emphasizes the importance of shareholder communication and transparency in its operations[71]. Compliance and Regulatory Matters - The company is committed to compliance with the GEM listing rules and relevant securities regulations in Hong Kong[70]. - The audit committee, consisting of three independent non-executive directors, reviewed the financial statements for the three-month period and found them to comply with applicable accounting standards[61]. - The company has not entered into any significant contracts with its controlling shareholders during the three-month period[63]. Share Capital and Securities - As of March 31, 2023, the total number of shares issued was 11,672,342,235[47]. - Major shareholder Ali Fortune holds 6,502,723,993 shares, representing 55.71% of the total issued capital of the company as of March 31, 2023[54]. - The company has granted 11,300,000 shares under the share award scheme to 23 employees during the three-month period, with 600,000 shares vesting and 8,950,000 shares being forfeited[65]. - The total number of shares issued under the share award scheme cannot exceed 6% of the total issued shares as of the adoption date, which is 630,852,526 shares[65]. - The company did not purchase, sell, or redeem any of its listed securities during the three-month period[66]. - The company has no unexercised options under any share option plans as of March 31, 2023[64].

Business Commitment and Strategy - The company is committed to providing comprehensive professional lottery hardware and services to enhance lottery sales in the Chinese lottery market[6]. - The company aims to support a healthy Chinese lottery industry by developing legal and regulated lottery channels while combating illegal gambling[8]. - The company is actively involved in the development of new lottery channels to increase market penetration and sales[6]. - The company aims to expand its hardware business by leveraging its R&D capabilities in lottery hardware to include non-lottery hardware for the retail sector[20]. - The company plans to enhance its electronic payment services in Macau and expand its business into complementary areas such as e-commerce, entertainment, and marketing technology services[20]. - The company is committed to globalizing its business by seeking opportunities overseas and forming strategic partnerships with local partners in Asia[20]. - The company aims to enhance its electronic payment services in Macau, contributing to the sustainable growth of local businesses and improving the quality of life for residents and tourists[27]. - The company is focused on diversifying its development, including strategic projects like the leading gaming app Paytm First Games in India and indirect investments in Ant Bank (Macau) Limited[29]. - The company is optimistic about the stronger economic outlook in China compared to the beginning of 2022, aiming to leverage this for growth[29]. - The company is focused on creating value through innovative solutions that benefit individuals and businesses in the digital economy[29]. Corporate Governance and Compliance - The board of directors confirms that the report's information is accurate and complete, with no misleading or fraudulent elements[10]. - The company has a strong focus on risk management and internal controls, as evidenced by the establishment of a dedicated committee[10]. - The company emphasizes the importance of compliance with anti-money laundering and counter-terrorism financing measures[12]. - The company has a clear governance structure with designated committees for audit, remuneration, and nominations[10]. - The company is listed on the GEM with the stock code 8279, indicating its commitment to transparency and regulatory compliance[10]. - The company has adopted a code of conduct for directors' securities trading, ensuring compliance with GEM listing rules[37]. - The company has implemented a robust governance and compliance culture across the group, aligning it with the company's mission and values[44]. - The company has established a platform for communication with shareholders and investors through its official website[34]. - The company has adopted a policy for directors to seek independent professional advice and assistance, with costs covered by the company[42]. - The company has implemented a fraud disclosure mechanism allowing employees to confidentially report concerns related to financial reporting and risk management[72]. Risk Management and Internal Controls - The company has established a risk management and internal control committee to oversee risk management strategies and internal controls[169]. - The Risk Management and Internal Control Committee identified various risk areas, including operational, budget, liquidity, foreign exchange, credit, legal compliance, cybersecurity, and political risks, and submitted acceptable risk levels for board approval[68]. - The internal audit team conducted multiple internal audit projects on the lottery hardware and Macau Tong business segments to review high-risk areas of internal control[70]. - The company has ensured that its risk management and internal control systems are adequate and effective, with no significant deficiencies identified during the annual review[73]. - The company has implemented strict user data security management policies, covering collection, storage, processing, cross-border transmission, and disclosure[175]. Employee Development and Social Responsibility - The company has a strong commitment to social responsibility, actively participating in sports development and charitable activities[25]. - The company emphasizes employee development, providing competitive compensation and training opportunities to enhance professional skills[112]. - The company encourages employee participation in community service activities, fostering a culture of social responsibility[109]. - The company has implemented various health and safety measures, including emergency drills and the provision of first aid kits in the office[167]. - The company has established a performance evaluation system that considers individual performance and experience in determining compensation[155]. Shareholder Communication and Rights - The company maintains a high level of transparency and has adopted a "Shareholder Communication Policy" to encourage timely and effective communication with shareholders[88]. - The company commits to responding to shareholder inquiries within 7 days, unless further investigation is required[89]. - The company allows shareholders to propose candidates for directorship, requiring a written request from shareholders holding at least 10% of the paid-up capital[93]. - The company emphasizes the importance of shareholder rights and communication in its governance report[93]. Environmental and Social Governance (ESG) - The company has a dedicated committee to oversee environmental, social, and governance (ESG) strategies, ensuring alignment with stakeholder interests[108]. - The company has implemented green initiatives, including reducing paper usage through electronic payment solutions, which also help decrease carbon emissions[111]. - The company promotes digital marketing services for merchants to reduce paper waste from traditional marketing activities[148]. - The company has implemented policies to prevent child labor and forced labor, reducing the likelihood of such issues arising[181]. - The company does not anticipate significant risks related to environmental issues due to its outsourcing of production functions to external suppliers[180]. Business Segments and Market Position - The group operates in four main business segments: lottery hardware sales, electronic payment services, gaming and entertainment, and non-lottery hardware supply[99]. - The group aims to integrate development strategies with technological innovation and sustainable growth to enhance long-term business sustainability[96]. - The group is exploring strategic cooperation with Alibaba Group to expand e-commerce and digital media entertainment, creating more diversified business scenarios[200]. - The group continues to innovate in technology and business, expanding channels and distribution, and enhancing data services and other value-added services in the lottery business[200]. - The group believes there is significant potential in internet and mobile distribution channels in the Chinese lottery market[200].

Revenue and Financial Performance - The group's revenue for the year ended December 31, 2022, was approximately HKD 351.4 million, an increase of about 38.8% compared to HKD 253.2 million in 2021[2]. - Revenue contributions primarily came from lottery and related businesses amounting to approximately HKD 171.2 million and electronic payment services in Macau amounting to approximately HKD 180.2 million[2]. - The operating loss for the year was approximately HKD 129.7 million, an increase from HKD 65.8 million in 2021, attributed to increased costs and expenses[2]. - The total loss for the year was approximately HKD 131.1 million, a 107.9% increase compared to HKD 63.1 million in 2021[2]. - The basic and diluted loss per share for the year was HKD 1.11, compared to HKD 0.55 in 2021[5]. - The company reported a revised EBITDA of HKD (9,948,000) for 2022, improving from a loss of HKD (14,997,000) in 2021[16]. - The net loss for the year was approximately HKD 126.7 million, compared to a loss of HKD 63.6 million in 2021, indicating a significant increase in losses[24]. Assets and Liabilities - The total assets as of December 31, 2022, amounted to HKD 6,422.1 million, compared to HKD 3,081.7 million in 2021[6]. - The total liabilities increased significantly to HKD 3,759.3 million in 2022 from HKD 195.5 million in 2021[7]. - Cash and bank balances increased to HKD 4,023.7 million in 2022 from HKD 1,638.1 million in 2021[6]. - Non-current assets totaled HKD 1,987,450,000 in 2022, an increase from HKD 1,220,255,000 in 2021[18]. - The current ratio as of December 31, 2022, was approximately 1.2, a decrease from 12.2 in 2021, indicating a significant change in liquidity management[54]. Revenue Streams and Business Segments - Electronic payment services generated revenue of HKD 162,062,000 in 2022, with no revenue reported in 2021, indicating a new revenue stream[12][16]. - The company restructured its internal reporting to reflect two main operating segments: lottery business and electronic payment services[14][15]. - The company plans to continue expanding its electronic payment services in Macau and enhance its lottery hardware offerings in mainland China[12][15]. - The company identified two major customers contributing over 10% of total revenue, with customer A generating HKD 47,427,000 in 2022[19]. Operational Developments - The company aims to expand its electronic payment services and lottery technology, leveraging its partnership with Alibaba Group and Ant Group[30]. - The company plans to enhance its hardware offerings in the retail sector beyond lottery hardware, aiming to diversify its product range[32]. - The company continues to seek overseas opportunities and strategic partnerships in Asia to globalize its business operations[32]. Market Trends and Industry Insights - In 2022, Macau's mobile payment transactions increased to approximately 266 million, a year-on-year growth of about 37.8% from 193 million in 2021[33]. - The total transaction value of mobile payments in Macau rose to approximately MOP 25.86 billion in 2022, reflecting a year-on-year increase of about 39.6% from MOP 18.52 billion in 2021[33]. - The company expanded its physical lottery sales channels through Alibaba's retail network, achieving a revenue increase of about 58% in 2022 compared to 2021[37]. - The number of retail outlets for lottery sales increased by approximately 23% in 2022, contributing to higher average sales per outlet[37]. Strategic Partnerships and Collaborations - The company has established a collaboration agreement with Alibaba Group to sell sports and welfare lottery products through Alibaba's retail network, effective from January 1, 2022, to December 31, 2023[82]. - The company is actively exploring strategic collaborations with Alibaba Group and Ant Group to enhance its e-commerce and digital media entertainment offerings[42]. Corporate Governance and Compliance - The company has complied with the corporate governance code, except for the combined role of the chairman and CEO, which is deemed to promote effective strategy formulation and execution[79]. - The company has adopted a code of conduct regarding securities trading by directors, with no known violations during the review year[74]. - The board has determined that further disclosure of senior management compensation details may reduce flexibility in negotiating future compensation packages[81]. Shareholder and Stock Information - The company has not granted any stock options under the stock option plan for the year ended December 31, 2022[76]. - A total of 64,568,900 reward shares were granted under the share award plan during the review year, with 23,863,500 shares vesting to the grantees and 10,780,000 shares being forfeited[78]. - The company purchased a total of 81,624,000 shares at a total cost of approximately HKD 23,600,000 to provide for the reward shares granted under the share award plan[77]. Related Party Transactions - The ongoing related party transactions with Ant Group are influenced by the company's ownership structure, with Ant Group holding a 40% indirect stake[87]. - The total amount of ongoing related transactions with Ant Group for the year ended December 31, 2022, was approximately HKD 19,594,000, which is below the annual cap of HKD 95,000,000[104]. - The total amount of ongoing related transactions with Alibaba Group for the year ended December 31, 2022, was approximately HKD 4,120,000, which is below the annual cap of HKD 4,500,000[102].

Financial Performance - The group's revenue for the nine months ended September 30, 2022, was approximately HKD 247,600,000, an increase of about 70.9% compared to HKD 144,900,000 for the same period in 2021[3] - The operating loss for the nine months was approximately HKD 112,500,000, up from HKD 65,300,000 in the previous year, primarily due to increased costs and expenses despite higher revenue[3] - The net loss for the nine months was approximately HKD 124,600,000, a significant increase of about 168.8% from HKD 46,300,000 in the same period last year[3] - The total comprehensive loss for the nine months was approximately HKD 194,898,000, compared to a loss of HKD 39,017,000 in the previous year[8] - Basic loss per share for the nine months was HKD 1.05, compared to HKD 0.41 for the same period in 2021[8] - The company reported a basic loss per share of approximately HKD 34,599,000 for the three months ended September 30, 2022, compared to a loss of HKD 3,154,000 for the same period in 2021[12] Revenue Sources - Revenue contributions primarily came from lottery hardware sales and electronic payment services, with approximately HKD 104 million from the newly acquired subsidiary, Macau Tong, since its consolidation on March 24, 2022[40] - Revenue for the three months ended September 30, 2022, was HKD 114,331,000, a 70.5% increase compared to HKD 66,982,000 for the same period in 2021[11] - Revenue from electronic payment services, including payment card services, was HKD 28,653,000 for the three months ended September 30, 2022, with no revenue reported in the same period of 2021[11] - Revenue from lottery agency and related services was HKD 14,797,000 for the three months ended September 30, 2022, up 56.2% from HKD 9,493,000 in the same period of 2021[11] - The company reported a revenue of approximately 55,100,000 HKD from virtual lottery game sales, representing a 42.8% increase compared to previous periods[47] Expenses and Losses - The company recorded a fair value loss of approximately HKD 29,600,000 related to convertible loans provided to its joint venture, attributed to rising market interest rates[3] - Employee benefit expenses decreased by approximately 17.3% to about HKD 89,600,000 during the nine-month period, despite the inclusion of expenses from the newly acquired subsidiary[3] - The group experienced a significant foreign exchange loss of approximately HKD 70,332,000 during the nine months[8] - Other operating expenses increased by approximately HKD 92.8 million to about HKD 151.9 million, largely due to costs associated with the Macau Tong group's operations[41] Strategic Initiatives - The company aims to expand its hardware business by leveraging its R&D capabilities in lottery hardware to include non-lottery hardware for the retail sector[18] - The company plans to enhance its electronic payment services in Macau and expand its business into complementary areas such as e-commerce and marketing technology services[18] - The company is committed to globalizing its business by seeking overseas opportunities and forming strategic partnerships with local partners in Asia[18] - The company is focused on developing integrated electronic payment services, lottery, mobile gaming, and entertainment content and technology[18] - The group plans to continue investing in strategic projects, including joint ventures and diversifying its business operations[39] Market Trends - For the nine-month period, the total sales of China's lottery reached approximately RMB 281.2 billion, representing an increase of about 1.0% compared to the same period in 2021[19] - The sales of welfare lottery amounted to approximately RMB 112.2 billion, which is an increase of about 9.8% year-on-year[19] - The sales of sports lottery were approximately RMB 169.0 billion, showing a decrease of about 4.1% compared to the same period in 2021[19] - The integrated digital infrastructure in China has led to significant growth in online payment transactions, with online payment businesses processing 23.5 billion transactions worth CNY 585 trillion in the first quarter of 2022, reflecting a year-on-year growth of 4%[23] Corporate Governance - The audit committee, consisting of three independent non-executive directors, reviewed the financial statements for the nine-month period[75] - The company has engaged in continuous related party transactions as per GEM listing rules, ensuring compliance with regulatory requirements[50] - The company has adopted the GEM Listing Rules regarding securities trading by directors[76] Shareholder Information - The total number of shares issued as of September 30, 2022, is 11,672,342,235[58] - Major shareholder Ali Fortune holds 6,502,723,993 shares, representing 55.71% of the total issued share capital[68] - The total issued shares of Alibaba Holdings as of September 30, 2022, is 11,672,342,235[69] Payment Services - Macau Tong provides payment services through Alipay with service fees ranging from 0.1% to 1.8% based on transaction amounts[53] - The annual service fee cap for Macau Tong's payment services is set at HKD 11,250,000 for the period from March 24, 2022, to December 31, 2022, and HKD 12,300,000 for the year ending December 31, 2023[54] - The service fee for successful account openings at Ant Bank ranges from HKD 50 to HKD 300 per new account referred by Macau Tong[54]