Financial Performance - Revenue for the three months ended December 31, 2019, was HK$24,737,000, a decrease of 41.6% compared to HK$42,286,000 in the same period of 2018[12]. - Gross profit for the nine months ended December 31, 2019, was HK$43,369,000, down 43.3% from HK$76,322,000 in the previous year[12]. - The operating results for the three months ended December 31, 2019, were HK$2,109,000, a significant decline from HK$17,290,000 in the same period of 2018[12]. - The profit/(loss) for the period attributable to equity holders of the Company for the three months ended December 31, 2019, was a loss of HK$4,771,000 compared to a profit of HK$4,351,000 in 2018[14]. - Basic earnings per share for the three months ended December 31, 2019, was a loss of HK$0.3187, compared to earnings of HK$0.2908 in the same period of 2018[14]. - Total cost of sales for the nine months ended December 31, 2019, was HK$52,121,000, down 18.9% from HK$64,313,000 in the previous year[12]. - The Company reported a profit/(loss) before tax of HK$4,930,000 for the three months ended December 31, 2019, compared to a profit of HK$10,356,000 in 2018[12]. - For the nine months ended December 31, 2019, the company reported a loss of HK$6,891,000 compared to a profit of HK$901,000 in the same period of 2018, representing a significant decline[16]. - The total comprehensive loss for the period was HK$22,773,000, compared to a loss of HK$12,922,000 in the previous year, indicating a worsening financial position[16]. - The equity attributable to equity holders of the company decreased to HK$238,335,000 as of December 31, 2019, down from HK$266,215,000 at the end of 2018[19]. - The company's retained losses increased to HK$1,705,122,000 as of December 31, 2019, compared to HK$1,704,944,000 at the end of 2018[19]. - The company reported a net loss of HK$9,525,000 for the period, which contributed to the overall comprehensive loss[19]. - The foreign currency translation reserve showed a negative balance of HK$28,579,000 as of December 31, 2019, reflecting adverse currency fluctuations[19]. - The Group's gross profit was approximately HK$43.4 million, representing a decrease of approximately 43.2% from approximately HK$76.3 million compared to the same period last year, with a gross profit margin of approximately 45.4%[89]. - The unaudited consolidated loss for the Reporting Period amounted to approximately HK$6.9 million, compared to a profit of approximately HK$0.9 million for the corresponding period last year[93]. - The loss attributable to equity holders of the Company was approximately HK$9.5 million, compared to approximately HK$9.3 million for the nine months ended December 31, 2018[93]. - Basic loss per share was approximately HK cents 0.64 for the Reporting Period, compared to basic earnings per share of approximately HK cents 0.04 for the same period last year[93]. Operational Challenges - The decrease in revenue was mainly due to the slowdown of gold mining operations resulting from environmental inspections and government demands for environmental improvements[83]. - The Group's profit before tax for the nine months ended 31 December 2019 was impacted by increased operational costs, including staff costs of HK$11.2 million, up from HK$8.6 million in the same period of 2018[64]. - The Group has been served a writ of summons claiming repayment of the principal sum of HK$30,095,357 under a series of convertible bonds, which poses a material uncertainty on the Group's ability to continue as a going concern[40]. - The company continues to face challenges in its financial performance, as indicated by the significant losses and declining equity[16]. - Looking ahead, the Group anticipates challenges due to economic uncertainties from the China-US trade dispute and tightening mine operation regulations[104]. Financial Management and Support - Management is actively controlling operating costs and increasing revenue to improve operating cash flows[40]. - The Company is engaged in active fundraising efforts to meet its operating and financing obligations[40]. - The Group has obtained continuous financial support from a substantial shareholder to enable it to meet its obligations as they fall due[40]. - The Group's policies on financial risk management remain unchanged for the nine months ended December 31, 2019[34]. Corporate Governance - The company emphasizes maintaining high standards of corporate governance to enhance corporate value and safeguard shareholder interests[113]. - The company has complied with all code provisions set out in the Corporate Governance Code during the reporting period, with minor deviations noted[113]. - The Audit Committee reviewed the unaudited condensed consolidated financial statements for the nine months ended 31 December 2019, ensuring compliance with applicable accounting standards and GEM Listing Rules[110]. - The role of the chairman is currently performed by Dr. Li Dahong, while the position of chief executive remains vacant[116]. - The company will continue to review its board structure and make appointments as suitable candidates are identified[116]. Share Capital and Options - The issued share capital remained unchanged at HK$89,807,000 as of December 31, 2019[19]. - The share options granted under the Share Option Scheme have an exercise price of at least HK$1.71, with a total balance of 4,519,296 options as of December 31, 2019[122]. - The share options were set to expire on 19 November 2019, with no options exercised during the reporting period[123]. - As of December 31, 2019, Mr. Ma held 200,730,224 shares, representing approximately 13.41% of the issued shares[136]. - Mr. Zhao Yuebing had an interest in 22,508,800 shares, which is about 1.50% of the issued shares[136]. - Lee Shing had an interest in 106,893,333 shares, accounting for approximately 7.14% of the issued shares[136]. - Yong Li Investments Limited, wholly owned by Mr. Lee Shing, held 106,893,333 shares, representing 7.14% of the issued shares[138]. - Wang Dong had an interest in 86,244,800 shares, which is about 5.76% of the issued shares[138]. - Zhou Yong held 116,666,666 shares, representing approximately 7.79% of the issued shares[138]. - J. Thomson Asset Investment Limited had an interest in 13,333,333 shares, accounting for about 0.89% of the issued shares[138]. - The company maintained a sufficient public float as of the report date[146]. Legal and Compliance - During the Reporting Period, the Company faced a legal action related to the repayment of the principal sum of HK$30,095,357 under the Convertible Bonds, which is still ongoing[100]. - The financial statements have not been audited but have been reviewed by the audit committee of the Company[44]. - The Group did not have any significant investments, material acquisitions, or disposals of subsidiaries and affiliated companies throughout the Reporting Period[104]. - The company has adopted a code of conduct for securities transactions by directors, complying with the required standards set out in the GEM Listing Rules[113]. - As of 31 December 2019, none of the directors or chief executives had any interests or short positions in the shares or debentures of the company[125]. Cash and Liquidity - As of December 31, 2019, the Group had cash and cash equivalents of approximately HK$1.1 million, down from approximately HK$2.2 million as of March 31, 2019[93]. - The current ratio as of December 31, 2019, was approximately 0.23, unchanged from March 31, 2019[93]. - The Group's gearing ratio was approximately 0.49 as of December 31, 2019, consistent with the ratio as of March 31, 2018[93].

Financial Performance - Revenue for the six months ended September 30, 2019, was HK$70,753,000, a decrease of 28.1% from HK$98,349,000 in the same period of 2018[11]. - Gross profit for the six months ended September 30, 2019, was HK$34,179,000, down 34.6% from HK$52,178,000 in the previous year[11]. - Loss for the period attributable to equity holders of the Company was HK$3,513,000, compared to a loss of HK$22,039,000 in the same period of 2018[13]. - Basic loss per share for the six months ended September 30, 2019, was HK$0.23, compared to HK$1.47 in the previous year[13]. - Operating results for the six months ended September 30, 2019, showed a profit of HK$14,191,000, a significant increase from HK$9,972,000 in the same period of 2018[11]. - Other income and expenses for the six months ended September 30, 2019, were net zero, compared to a loss of HK$19,157,000 in the same period of 2018[11]. - Total comprehensive loss for the period was HK$6,712,000, down from HK$14,880,000 in the previous year, reflecting a reduction of approximately 55%[15]. - The company reported a loss for the period of HK$2,132,000 for the six months ended September 30, 2019, compared to a loss of HK$21,403,000 for the same period in 2018, indicating a significant improvement[15]. - For the six months ended September 30, 2019, the company reported a net loss of HK$4,754,000[22]. - Total comprehensive loss for the period amounted to HK$20,613,000, including an exchange loss of HK$17,863,000 from overseas subsidiaries[22]. Assets and Liabilities - Non-current assets amounted to HK$771,694,000 as of September 30, 2019, slightly decreasing from HK$777,029,000 as of March 31, 2019[18]. - Current liabilities increased to HK$152,584,000 from HK$134,644,000, indicating a rise of about 13%[18]. - The net current liabilities stood at HK$123,128,000, compared to HK$103,735,000 in the previous period, showing an increase of approximately 18%[20]. - The company's cash and cash equivalents decreased to HK$867,000 from HK$2,196,000, a decline of about 60%[18]. - The equity attributable to equity holders of the company decreased to HK$240,451,000 from HK$263,068,000, a reduction of approximately 9%[20]. - The company reported inventories of HK$6,307,000, down from HK$8,158,000, indicating a decrease of about 23%[18]. - The Group's interest-bearing borrowings amounted to HK$356.6 million as of 30 September 2019, with interest rates ranging from 5% to 30%[108]. - The Group's net current liabilities amounted to approximately HK$123.1 million as of 30 September 2019, compared to approximately HK$103.7 million as of 31 March 2019[131]. - The current ratio as of 30 September 2019 was approximately 0.19, a decrease from approximately 0.23 as of 31 March 2019[131]. Operational Highlights - The company is primarily engaged in gold exploration, mining, and mineral processing in the PRC and Hong Kong[36]. - The Group incurred a loss after tax of approximately HK$2.0 million for the six months ended 30 September 2019, compared to a loss of approximately HK$7.1 million for the same period in 2018[48]. - The Group had two operating segments for the six months ended 30 September 2019: Gold Mining Division and Corporate Division[51]. - Segment revenue from external customers for the six months ended September 30, 2019, was HK$70,753,000, a decrease of 28.0% compared to HK$98,349,000 for the same period in 2018[55]. - Operating expenses totaled HK$19,990,000, with HK$10,297,000 attributed to gold mining and HK$9,693,000 to corporate expenses[55]. - During the Reporting Period, the Group's total expenditure for mine development and mineral exploration amounted to approximately HK$48.5 million[155]. - The aggregate expenditure on the ore mining operation of the Group was approximately HK$11.2 million during the Reporting Period[156]. Governance and Management - The Company confirmed that the information in the report is accurate and complete in all material respects[5]. - The Audit Committee reviewed the unaudited condensed consolidated financial statements for the six months ended September 30, 2019, confirming compliance with applicable accounting standards[166]. - The role of the chief executive officer remains vacant, with the chairman currently performing the role, pending the appointment of a suitable candidate[173]. - The Group emphasizes a quality board and sound internal control as part of its corporate governance practices[173]. Shareholder Information - The issued share capital remained at HK$89,807,000, with a share premium of HK$1,837,947,000[22]. - The substantial shareholder Mr. Ma Qianzhou holds 2,369,340 share options, all of which remain unexercised as of the reporting date[179]. - As of September 30, 2019, no substantial shareholders other than directors and chief executives had recorded interests in shares or underlying shares[192]. - The total shares held by beneficial owners and their interests indicate significant ownership concentration within the company[197][200].

Financial Performance - Revenue for the three months ended June 30, 2019, was HK$41,470,000, a decrease of 35% compared to HK$63,755,000 in the same period of 2018[10] - Gross profit for the same period was HK$19,207,000, down from HK$35,016,000, reflecting a gross margin decline[10] - Operating results showed a profit of HK$8,524,000, significantly lower than HK$24,167,000 in the previous year, indicating a decrease of 64.7%[10] - Profit before tax was HK$1,070,000, down 93.9% from HK$17,634,000 in the prior year[10] - The profit for the period attributable to equity holders of the Company was a loss of HK$1,240,000, compared to a profit of HK$8,374,000 in 2018[12] - Total comprehensive loss for the period was HK$13,901,000, compared to a loss of HK$5,450,000 in the same period last year[14] - The basic and diluted loss per share for the period was HK$0.08, compared to earnings of HK$0.56 per share in the previous year[12] - Non-controlling interest contributed a profit of HK$1,417,000 for the period, down from HK$5,902,000 in 2018[12] - The company reported finance costs of HK$7,454,000, an increase from HK$6,533,000 in the previous year[10] - The report indicates that the company is facing significant challenges in maintaining profitability and managing costs effectively[10] Comprehensive Loss and Equity - As of June 30, 2019, the company reported a total comprehensive loss of HK$14,717,000, which includes a net loss of HK$1,240,000 for the period[17] - The retained losses increased to HK$1,696,837,000 as of June 30, 2019, compared to HK$1,695,630,000 at the beginning of the period[20] - The total equity attributable to equity holders of the company was HK$24,351,000 as of June 30, 2019, down from HK$263,068,000 at the beginning of the period[17] - The foreign currency translation reserve showed a loss of HK$26,848,000 as of June 30, 2019, indicating a significant impact from exchange rate fluctuations[17] - The company recorded an exchange difference loss of HK$13,477,000 from the translation of financial statements of overseas subsidiaries[17] - The total comprehensive income for the period was reported as a loss of HK$13,901,000, reflecting ongoing challenges in the market[17] Operational Overview - The company is primarily engaged in gold exploration, mining, and mineral processing, with operations in the PRC and Hong Kong[26] - The financial statements are prepared in accordance with Hong Kong Financial Reporting Standards, ensuring compliance with local regulations[27] Cost Management - Cost of inventories sold for the same period was HK$22,263,000, down from HK$28,739,000 in 2018, reflecting a 22.5% reduction[44] - Staff costs, including directors' emoluments, increased to HK$5,266,000 from HK$2,145,000, representing a 145% increase year-over-year[50] - Administrative and other expenses increased to approximately HK$8.9 million, an increase of approximately 20.8% from approximately HK$7.3 million in the same period last year[76] - Selling and distribution expenses were approximately HK$1.8 million, representing a decrease of approximately 48.3% from approximately HK$3.5 million in the corresponding period last year[75] Taxation and Provisions - Current tax provision for overseas operations was HK$893,000, significantly lower than HK$3,358,000 in 2018, indicating a 73% decrease[56] - The Group has not made any provision for Hong Kong profits tax as there were no assessable profits for the period[56] Share Capital and Gearing - The company's issued share capital remained at HK$89,807,000, with a share premium of HK$1,837,947,000 as of June 30, 2019[20] - The Group had cash and cash equivalents amounting to approximately HK$2.9 million as of 30 June 2019, an increase from approximately HK$2.2 million as of 31 March 2019[83] - Net current liabilities increased to approximately HK$121.1 million as of 30 June 2019, up from approximately HK$103.7 million as of 31 March 2019[83] - The current ratio as of 30 June 2019 was approximately 0.22, slightly down from approximately 0.23 as of 31 March 2019[83] - The Group's gearing ratio was approximately 0.51 as of 30 June 2019, compared to approximately 0.49 as of 31 March 2019[83] Future Outlook and Strategy - The Group anticipates facing challenges in 2019 due to economic uncertainties from the China-US trade dispute and other macroeconomic factors[86] - The Company aims to improve asset scale and quality, as well as financial performance, while exploring new growth opportunities through mergers and acquisitions[86] - The Group's treasury policy focuses on minimizing foreign exchange risk by maintaining most bank deposits in HK$ or RMB[83] Corporate Governance - The Company has established an audit committee consisting of three independent non-executive directors, with Mr. Lin Wenshen as the chairman[94] - The Company has complied with all Code Provisions set out in the Corporate Governance Code during the reporting period, with some deviations noted[99] - The Company emphasizes the importance of effective corporate governance practices to enhance corporate value and safeguard shareholder interests[99] - The Company will continue to review its board structure and appoint a suitable candidate for the chief executive position as necessary[103] Shareholder Information - As of June 30, 2019, Mr. Ma Qianzhou held 200,730,224 shares, representing approximately 13.41% of the issued shares[114] - Zhao Yuebing holds 22,508,800 shares, representing approximately 1.50% of the issued shares[117] - The spouse of Zhao Yuebing has an interest in 200,730,224 shares, accounting for 13.41% of the issued shares[117] - Lee Shing has an interest in a controlled corporation with 106,893,333 shares, which is 7.14% of the issued shares[117] - Wang Dong holds 86,244,800 shares, representing 5.76% of the issued shares[117] - Zhou Yong is a beneficial owner of 116,666,666 shares, which is approximately 7.79% of the issued shares[117] - Leung Heung Ying has an interest in a controlled corporation with 13,333,333 shares, accounting for 0.89% of the issued shares[119] - J. Thomson Asset Investment Limited is a beneficial owner of 13,333,333 shares, representing 0.89% of the issued shares[119] - The company has maintained a sufficient public float as of the report date[122] Miscellaneous - The Company did not repurchase or sell any of its listed securities during the reporting period[95] - There have been no significant changes in the financial risk management policies during the reporting period[34] - The accounting policies used in the preparation of the financial statements remain consistent with those applied in the previous year[34] - No significant events occurred after June 30, 2019, up to the date of the report[122] - The board comprises of multiple executive and independent directors as of the report date[122]

Economic Challenges and Strategic Focus - The company faced significant challenges in 2018 due to the China-US trade dispute, international political instability, and a slowing global economy, which impacted its operational plans[24]. - In 2019, the company anticipates continued challenges, particularly from legal disputes, and will prioritize executing its business development plan[25]. - The company is committed to improving its asset scale and quality, as well as its financial performance over time[25]. - The Group is exploring various business opportunities to improve ore production and processing capacity[36]. - The Group aims to explore investment opportunities to broaden its income stream and enhance profitability[65]. - The Group is committed to fending off legal challenges and minimizing disturbances to execute its business development plan[82]. Financial Performance - For the year ended 31 March 2019, the Group's revenue was approximately HK$163.8 million, representing a decrease of approximately 24.0% from approximately HK$215.4 million in the previous year[33][35]. - The Group's gross profit was approximately HK$77.5 million, a decrease of approximately 20.7% from approximately HK$97.7 million in the previous year, with an overall gross profit margin of approximately 47.3%[36][39]. - The consolidated profit for the year amounted to approximately HK$7.8 million, down from approximately HK$34.2 million in the previous year[39]. - The current ratio as of 31 March 2019 was approximately 0.23, down from approximately 0.33 in the previous year[41]. - The Group's gearing ratio was approximately 49.3% as of 31 March 2019, compared to approximately 42.2% in the previous year[42][45]. - Cash and cash equivalents amounted to approximately HK$2.2 million, a significant decrease from approximately HK$22.4 million in the previous year[39]. - Net current liabilities were approximately HK$103.7 million, down from approximately HK$135.7 million in the previous year[39]. - The Group's net current liabilities are currently in the red, indicating limited financial resources, which may adversely affect operations if additional funding is not secured in a timely manner[137]. - The Group is actively engaged in fundraising discussions with several interested investors to alleviate current liability risks and improve financial stability[137]. Operational Developments - The Group completed the excavation of approximately 16,114 meters of various tunnels during the year[84]. - A new processing plant is being finalized and implemented to boost mineral products throughput, revenue, and net profits, which is expected to fundamentally improve the Group's financial position[137]. - The Group's total expenditure for mine development and mineral exploration amounted to approximately HK$113.2 million, while the expenditure on ore mining operations was approximately HK$34.0 million[86][87]. Market and Growth Strategies - The company aims to enhance its competitiveness and financial performance through organic growth and acquisitions, focusing on becoming a high-standard mining company[24]. - The company is planning to expand its market presence in Southeast Asia, targeting a 10% market share within the next two years[105]. - A strategic acquisition of a smaller mining company is under consideration, which could enhance the company's resource base and operational capabilities[105]. - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 20% driven by new product launches and market expansion strategies[105]. Environmental and Regulatory Compliance - Environmental protection initiatives have been enhanced, requiring compliance with strict pollution control standards and permitting at specific elevations[134]. - The company has policies in place to ensure compliance with environmental standards and to protect natural and social environments[134]. - Recent inspections by the Central Government resulted in temporary shutdowns of mining operations, highlighting the need for adherence to environmental policies[134]. - The enforcement of environmental policies may lead to increased operating costs and potential interruptions in normal production activities[134]. - The company is actively monitoring policy developments to prepare for anticipated changes in regulations[131]. Shareholder and Management Information - The Board does not recommend the payment of any dividend for the Year, consistent with the previous year[148]. - The Company maintained permitted indemnity provisions for potential liabilities and costs associated with legal proceedings against Directors[166]. - As of March 31, 2019, none of the Directors or chief executives had any interests or short positions in the shares or debentures of the Company[171]. - The Directors' remuneration details are provided in note 11 to the consolidated financial statements[168]. - The Company had no unexpired service agreements with Directors that were not determinable within one year without compensation[161]. Employee and Operational Costs - Total staff costs for the year were approximately HK$12.8 million, a decrease from approximately HK$18.1 million in 2018[66]. - The Group had 59 employees as of March 31, 2019, compared to 61 in 2018[66]. - Selling and distribution expenses increased to approximately HK$4.9 million, representing an increase of approximately 41.4% from approximately HK$3.4 million in the previous year[36][39]. - Administrative expenses decreased to approximately HK$32.7 million, a reduction of approximately 20.0% from approximately HK$40.8 million in the previous year[39]. Risks and Challenges - The company faces significant risks related to fluctuations in gold prices, which are influenced by international market conditions and USD to RMB exchange rates[124]. - Investment in mineral exploration and mining involves inherent risks, requiring significant capital expenditures and proper risk assessment[128]. - The company is subject to various government regulations that can impact operations, including lengthy and costly permit processes[129].

Financial Performance - Revenue for the three months ended December 31, 2018, was HK$42,286,000, a decrease of 25.1% compared to HK$56,434,000 for the same period in 2017[14] - Gross profit for the three months ended December 31, 2018, was HK$24,144,000, down 34.2% from HK$36,625,000 in the previous year[16] - Profit before tax for the three months ended December 31, 2018, was HK$10,356,000, a decrease of 11.0% compared to HK$11,635,000 in the same period of 2017[23] - Profit for the period attributable to equity holders of the Company was HK$4,351,000 for the three months ended December 31, 2018, compared to HK$3,219,000 in the previous year, representing an increase of 35.1%[26] - Total comprehensive income for the three months ended December 31, 2018, was HK$7,408,000, down 50.9% from HK$15,080,000 in the same period of 2017[35] - For the nine months ended December 31, 2018, revenue was HK$140,635,000, a decrease of 19.5% from HK$174,630,000 in the previous year[14] - Profit for the nine months ended December 31, 2018, was HK$901,000, a significant decrease from HK$18,889,000 in the same period of 2017[25] - Basic earnings per share for the three months ended December 31, 2018, was HK$0.0194, an increase from HK$0.0160 in the previous year[26] - The Company reported a total comprehensive income of HK$20,702,000 for the previous period, with a net profit of HK$4,297,000[67] Expenses and Costs - The Company reported finance costs of HK$6,934,000 for the three months ended December 31, 2018, an increase of 31.9% compared to HK$5,255,000 in the same period of 2017[22] - Administrative expenses for the three months ended December 31, 2018, were HK$6,609,000, a decrease of 64.0% from HK$18,386,000 in the previous year[20] - Selling and distribution expenses were approximately HK$3.6 million, a decrease of approximately 22.2% compared to HK$4.6 million in the same period last year[112] - Administrative and other expenses were approximately HK$26.2 million, representing a decrease of approximately 36.9% from HK$41.4 million in the corresponding period last year[113] Financial Position - The net loss for the period was HK$9,314,000, with accumulated losses reaching HK$1,695,630,000[45] - As of December 31, 2018, the issued share capital was HK$89,807,000 and the share premium was HK$1,837,947,000[43] - The total equity attributable to equity holders of the Company was HK$303,641,000 as of December 31, 2018[43] - As of December 31, 2018, the Group had cash and cash equivalents of approximately HK$6.2 million, down from approximately HK$22.4 million as of March 31, 2018[122] - The Group's net current liabilities amounted to approximately HK$155.8 million as of December 31, 2018, compared to approximately HK$135.7 million as of March 31, 2018[122] - The current ratio as of December 31, 2018, was approximately 0.16, down from approximately 0.33 as of March 31, 2018[122] - The gearing ratio as of December 31, 2018, was approximately 0.44, compared to approximately 0.42 as of March 31, 2018[122] Exchange and Other Income - The company reported a net exchange loss of HK$19,784,000 for the nine months ended December 31, 2018, compared to no exchange gain or loss in the same period of 2017[86] - The Group's exchange loss from foreign currency balances was approximately HK$19.7 million, primarily due to the depreciation of the Renminbi during the Reporting Period[114] - Other income for the three months ended December 31, 2018, was HK$187,000, compared to HK$139,000 in the same period of 2017[86] Corporate Governance - The Company has established an audit committee consisting of three independent non-executive directors to review financial materials and monitor the financial reporting process[141] - The Company is committed to maintaining the highest standards of corporate governance to enhance corporate value and safeguard shareholder interests[144] - The Company complied with all Code Provisions as set out in the Corporate Governance Code during the reporting period, except for a deviation regarding the separation of roles of chairman and chief executive[144] - The role of the chairman is currently performed by Dr. Li Dahong, while the position of chief executive remains vacant since September 12, 2017[144] Shareholder Information - Ma Qianzhou holds 3,010,953,361 shares, representing approximately 13.41% of the issued shares[156] - Zhao Yuebing holds 337,632,000 shares, representing approximately 1.50% of the issued shares[156] - Lee Shing has an interest in a controlled corporation with 1,603,400,000 shares, representing approximately 7.14% of the issued shares[158] - Wang Dong has an interest in a controlled corporation with 1,293,672,000 shares, representing approximately 5.76% of the issued shares[158] - Zhou Yong is a beneficial owner of 1,750,000,000 shares, representing approximately 7.79% of the issued shares[158] - The company maintained sufficient public float as of the report date[160] Future Outlook and Strategy - The Company aims to explore opportunities to increase ore processing capacity and expand income sources to improve business performance and shareholder returns[131] - The Company will adopt a cautious approach to evaluate potential projects and investments while continuously reviewing its strategies and operations[133] - The company is actively engaged in fundraising efforts to support its operations and financing obligations[78] - Management is focused on controlling operating costs and increasing revenue to improve operating cash flows[78] - The Company has received continuous financial support from a substantial shareholder to meet its operational and financing needs[79] - A legal proceeding is ongoing regarding the repayment of HK$30,095,357 related to convertible bonds, which poses a material uncertainty on the company's ability to continue as a going concern[77] - The financial statements have been prepared on a going concern basis, assuming the company can meet its future working capital and financing requirements for at least the next twelve months[79] Share Consolidation - A share consolidation was announced, where every fifteen issued and unissued shares of HK$0.004 each were consolidated into one share of HK$0.06[169] - The board lot size for trading was changed to 24,000 consolidated shares upon the share consolidation becoming effective[169] - The company announced a share consolidation of every 15 shares with a par value of HKD 0.004 into 1 share with a par value of HKD 0.06, effective February 4, 2019[170] - There were no other material subsequent events reported after the reporting period up to the date of this report[171]