香港交易及結算所有限公司及香港聯合交易所有限公司（「聯交所」）對本公告 的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不 就因本公告全部或任何部分內容而產生或因依賴該等內容而引致的任何損失 承擔任何責任。 GRAND T G GOLD HOLDINGS LIMITED 大 唐 潼 金 控 股 有 限 公 司 * （於開曼群島註冊成立之有限公司） （股份代號：8299） (1)截 至 二 零 二 三 年 九 月 三 十 日 止 六 個 月 中 期 業 績 公 告； (2)註 銷 購 股 權；及 (3)變 更 所 得 款 項 用 途 截至二零二三年九月三十日止六個月中期業績公告 大唐潼金控股有限公司（「本公司」，連同其附屬公司統稱「本集團」）董事（「董事」） 會（「董事會」）謹此公佈本集團截至二零二三年九月三十日止六個月之中期業 績。本公告載有本公司二零二三年中期報告全文，符合香港聯合交易所有限公 司GEM證券上市規則（「GEM上市規則」）有關年度業績初步公告附載之資料的 相關規定。 ...

Revenue and Profit Growth - Revenue for the three months ended 30 June 2023 increased to HK$53,029 thousand, up from HK$42,056 thousand in the same period last year, representing a growth of approximately 26.1%[8] - Revenue for the three months ended 30 June 2023 was approximately HK$53.0 million, representing a 26.1% increase from HK$42.1 million in the same period last year[121] - Gross profit for the three months ended 30 June 2023 was HK$25,052 thousand, compared to HK$22,780 thousand in the same period last year, reflecting an increase of approximately 10%[8] - Gross profit for the reporting period was approximately HK$25.1 million, a 10.0% increase from HK$22.8 million in the corresponding period last year[122] - Profit before tax for the three months ended 30 June 2023 was HK$16,701 thousand, up from HK$12,658 thousand in the same period last year, showing a growth of approximately 31.9%[8] - Profit for the period attributable to equity holders of the company was HK$9,180 thousand, compared to HK$5,848 thousand in the same period last year, representing an increase of approximately 57%[29] - Unaudited consolidated profit for the reporting period was approximately HKD 13.8 million, up from HKD 10.0 million in the same period last year[135] Financial Performance Metrics - Basic earnings per share for the three months ended 30 June 2023 were HK$0.15, slightly down from HK$0.16 in the same period last year[29] - Basic earnings per share for the reporting period was HK$0.15, compared to HK$0.16 in the same period last year[112] - Basic earnings per share for the reporting period was approximately HK cents 0.15, compared to HK cents 0.16 in the same period last year[130] - The Group's overall gross profit margin was approximately 47.2% for the reporting period, compared to 54.2% in the same period last year[122] - The Group's profit before tax included a cost of inventories sold of HK$27,977 thousand, compared to HK$19,276 thousand in the same period last year[100] - Staff costs, including directors' emoluments, amounted to HK$3,522 thousand, compared to HK$2,833 thousand in the corresponding period last year[100] - The Group's income tax expense was HK$2,916 thousand, compared to HK$2,633 thousand in the same period last year[106] - Finance costs for the reporting period were HK$1,927 thousand, compared to HK$4,479 thousand in the same period last year[118] Expenses and Costs - Selling and distribution expenses increased by 96.0% to approximately HK$1.3 million from HK$0.67 million in the corresponding period last year[123] - Sales and distribution expenses increased by 96.0% to approximately HKD 1,300,000 compared to HKD 670,000 in the same period last year[127] - Administrative and other expenses increased by 9.8% to approximately HK$5.7 million from HK$5.2 million in the same period last year[124] - Administrative and other expenses increased by 9.8% to approximately HKD 5,700,000 compared to HKD 5,200,000 in the same period last year[128] Comprehensive Loss and Exchange Differences - Total comprehensive loss for the period was HK$12,919 thousand, compared to HK$12,368 thousand in the same period last year[19] - Exchange differences arising from translation of financial statements of overseas subsidiaries resulted in a loss of HK$26,704 thousand, compared to HK$22,393 thousand in the same period last year[19] - Net profit for the period was HK$9.18 million, with a total comprehensive loss of HK$19.584 million due to exchange differences from overseas subsidiaries[31] - Foreign currency translation reserve decreased by HK$29,382,000 due to exchange differences from overseas subsidiaries[31] Equity and Reserves - Retained profit increased to HK$1,674,435,000, reflecting a positive shift from accumulated losses[31] - Share option reserve increased by HK$618,000 due to granted share options[31] - Non-controlling interest increased to HK$67,446,000, up from HK$60,163,000 at the start of the period[31] - Total equity at the end of the period stood at HK$428,329,000, compared to HK$440,630,000 at the beginning[31] Share Ownership and Options - Dr. Li Dahong holds a 0.40% beneficial ownership in the company with 23,948,516 shares[51] - Ms. Ma Xiaona holds a 0.35% beneficial ownership in the company with 20,954,950 shares[53] - Mr. Ma Qianzhou holds 4,029,354,894 shares, representing 67.30% of the issued shares, and his spouse holds 179,613,860 shares, representing 3.00% of the issued shares[67] - The company's directors, including Mr. Cheung Wai Hung, Mr. Guo Wei, and Mr. Lam Albert Man Sum, each hold 2,993,564 shares, representing 0.05% of the issued shares[59] - Total share options granted as of 30 June 2023 amounted to 89,247,286[195] - Share options granted to directors: Li Dahong (23,948,516), Ma Xiaona (20,954,950), Guo Wei (2,993,564), Lam Albert Man Sum (2,993,564), Cheung Wai Hung (2,993,564)[193] - Share options granted to employees in aggregate: 19,584,000 (granted on 24-5-22) and 5,987,128 (granted on 29-9-22)[197] - Exercise price for share options granted on 29-9-22 is HK$0.252 per share[193][197] - Exercise price for share options granted on 24-5-22 is HK$0.088 per share[197] - 30% of share options granted on 29-9-22 can be exercised 3 years after the grant date, another 30% in the subsequent year, and the remaining 40% after 5 years[198] - Share options granted on 24-5-22 can be exercised 3 years after the grant date[198] Strategic Development and Expansion - The Group entered into a sale and purchase agreement for the acquisition of a gold concentrates refinery production line with a capacity of up to 300 tons per day, expected to significantly increase revenues[155] - The Group plans to expand resources and reserves, increase mining and processing capacities, and acquire additional mining assets or business integrations as part of its strategic development plan[155] - The company has updated its strategic development plan and is ready to implement it starting from the 2023-2024 fiscal year, focusing on expanding resources, increasing mining and processing capacity, and acquiring additional mining assets or business integration[156] - The company has entered into a purchase agreement to acquire a gold concentrate smelting production line with a daily capacity of up to 300 tons, expected to significantly increase revenue and positively impact performance[156] - The company plans to establish partnerships with state-owned enterprises (SOEs) and private sector peers to support continuous growth in assets, revenue, and profits[156] - The company will seek innovative financing methods to fund its strategic initiatives, aiming to achieve the expected returns for investors and shareholders[156] Financial Statements and Compliance - The unaudited condensed consolidated financial statements are presented in Hong Kong dollars (HK$), with values rounded to the nearest thousand, and the functional currency of the Group's operating subsidiary, Taizhou Mining, is Renminbi (RMB)[79] - The unaudited condensed consolidated financial statements for the three months ended 30 June 2023 were prepared under the historical cost convention, with certain financial instruments revalued at fair value[85] - The company's unaudited condensed consolidated financial statements comply with Hong Kong Financial Reporting Standards (HKFRSs) and the disclosure requirements of the Hong Kong Companies Ordinances[82] - The Audit Committee has reviewed the unaudited condensed consolidated financial statements for the three months ended 30 June 2023 and confirmed compliance with applicable accounting standards and legal requirements[159][166] Corporate Governance and Compliance - The company emphasizes high standards of corporate governance, focusing on board quality, sound internal control, and transparency to shareholders[171][173] - The company has complied with all Code Provisions of the Corporate Governance Code, except for the deviation where the roles of chairman and chief executive are not separated[176][177] - The company has adopted a code of conduct for securities transactions by Directors, ensuring compliance with the GEM Listing Rules' required standards[170][172] - The company has not been notified of any other person (excluding Directors or chief executives) with an interest or short position in the company's shares as of 30 June 2023[189][190] Cash and Assets - Cash and cash equivalents as of 30 June 2023 amounted to approximately HKD 38.2 million, up from HKD 24.6 million as of 31 March 2023[137] - Net current assets as of 30 June 2023 amounted to approximately HKD 23.1 million, compared to net current liabilities of HKD 5.0 million as of 31 March 2023[137] - The Group's gearing ratio as of 30 June 2023 was approximately 40.0%, up from 35.8% as of 31 March 2023[138] Financing and Capital - The Group raised approximately HKD 152.8 million from the Rights Issue, with HKD 122.85 million utilized and HKD 30.05 million remaining unutilized as of the report date[150] - The company has maintained a sufficient public float as of the report date[199] Principal Activities and Operations - The company's principal activities include gold exploration, mining, and mineral processing, with operations primarily in the People's Republic of China and Hong Kong[78] - The company's shares are listed on the GEM of The Stock Exchange of Hong Kong Limited[77] Risk Management - The company's financial risk management policies remained unchanged for the three months ended 30 June 2023, as outlined in the 2023 Annual Report[84] Securities Transactions - The company has not purchased or sold any of its listed securities during the reporting period[169]

香港交易及結算所有限公司及香港聯合交易所有限公司（「聯交所」）對本公告 的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不 就因本公告全部或任何部分內容而產生或因依賴該等內容而引致的任何損失 承擔任何責任。 GRAND T G GOLD HOLDINGS LIMITED 大 唐 潼 金 控 股 有 限 公 司 * （於開曼群島註冊成立之有限公司） （股份代號：8299） 截 至 二 零 二 三 年 六 月 三 十 日 止 三 個 月 第 一 季 度 業 績 公 告 大唐潼金控股有限公司（「本公司」，連同其附屬公司統稱「本集團」）董事（「董事」） 會（「董事會」）謹此公佈本集團截至二零二三年六月三十日止三個月的第一季 度業績。本公告載有本公司二零二三年第一季度報告全文，符合香港聯合交易 所有限公司GEM證券上市規則（「GEM上市規則」）有關年度業績初步公告附載 之資料的相關規定。 承董事會命 大唐潼金控股有限公司 主席 李大宏 ...

Financial Performance - The Group recorded a net profit attributable to equity holders of approximately HKD 26,100,000 for the year, compared to a loss of approximately HKD 100,000 in the previous year[24]. - Earnings per share for the year were approximately HKD 0.48, a significant improvement from a loss of HKD 0.01 per share in the previous year[25]. - For the year ended March 31, 2023, the Group's revenue was approximately HK$153.2 million, representing an increase of approximately 19.3% from approximately HK$128.4 million in the previous year[50]. - The Group's gross profit was approximately HK$63.3 million, an increase of approximately 71.4% from approximately HK$36.9 million last year, with a gross profit margin of approximately 41.3% compared to 28.8% in 2022[49]. - The Group's profit for the year amounted to approximately HK$43.7 million, compared to approximately HK$7.8 million in 2022, with approximately HK$29.6 million attributed to an income tax reversal[52]. Cash and Liabilities - As of March 31, 2023, the Group held cash and cash equivalents of approximately HKD 24,600,000, up from approximately HKD 4,400,000 in the previous year[27]. - The Group's current liabilities net amount was approximately HKD 5,000,000, a decrease from approximately HKD 185,500,000 in the previous year[27]. - The current ratio as of March 31, 2023, was approximately 0.96, compared to approximately 0.19 in the previous year[27]. - The Group's capital debt ratio was approximately 35.8% as of March 31, 2023, down from approximately 52% in the previous year[27]. Rights Issue and Financial Position - The Group completed a rights issue on May 17, 2022, raising funds to cover debts and operating costs for the following 18 months, significantly improving its financial position[6]. - The fiscal year 2022-2023 marked a significant milestone with the completion of a rights issue on May 17, 2022, resolving long-term debts and improving the financial position[89]. - The completion of the rights issue in May 2022 has improved the Company's financial position and allowed for the reshaping of its strategic development plan[128]. Operational Developments - The Group increased its mining area to 8.2194 square kilometers from 0.9749 square kilometers following the renewal of its mining permit[89]. - The Group's total expenditure for mine development was approximately HK$14.0 million and for mineral exploration was approximately HK$13.8 million during the fiscal year[132]. - The aggregate expenditure on ore mining operations was approximately HK$51.3 million for the year[133]. Strategic Goals and Future Plans - The Company aims to build a mid-tier, competitive, and highly efficient gold mining company covering the entire industrial chain for gold production[90]. - The Group plans to implement its strategic goals through increases in asset scale, production capacity, and technical renovations to enhance efficiency and profitability[90]. - The Group plans to expand resources and reserves, increase mining and processing capacities, and create partnerships to broaden revenue sources starting in fiscal year 2023-24[128]. - The strategic development plan includes acquiring additional mining assets and business integration to enhance the asset base and profitability[128]. - The Group aims to work with shareholders and partners to find innovative financing solutions for the implementation of its strategic goals[128]. Risk Management - The Company acknowledges the potential risks and uncertainties it may face, as detailed in the Board's report and corporate governance report[93]. - The fluctuation in gold prices significantly impacts the group's operational revenue, cash flow, and profitability, influenced by international market conditions and USD to RMB exchange rates[171]. - The group aims to control cash costs for production and overall operational costs to mitigate risks associated with gold price fluctuations[171]. - Investment in mineral exploration and mining carries inherent risks, including significant capital expenditures and uncertain outcomes from exploration results[178]. - The group employs proper risk assessments and engages third-party professionals to minimize and control investment risks[178]. Governance and Management - The company has over 30 years of senior management experience in gold mining, exploration, and mergers and acquisitions[161]. - The board of directors includes experienced professionals with backgrounds in accounting and finance, enhancing corporate governance[168]. - The board held 12 meetings during the year, demonstrating active governance and oversight[195]. - The board of directors is committed to maintaining a balanced composition of executive and independent non-executive directors to ensure effective governance[182].

香港交易及結算所有限公司及香港聯合交易所有限公司（「聯交所」）對本公告 的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不 就因本公告全部或任何部分內容而產生或因依賴該等內容而引致的任何損失 承擔任何責任。 GRAND T G GOLD HOLDINGS LIMITED 大 唐 潼 金 控 股 有 限 公 司 * （於開曼群島註冊成立之有限公司） （股份代號：8299） 截 至 二 零 二 三 年 三 月 三 十 一 日 止 年 度 業 績 公 告 大唐潼金控股有限公司（「本公司」，連同其附屬公司統稱「本集團」）董事（「董事」） 會（「董事會」）謹此公佈本集團截至二零二三年三月三十一日止年度業績。本公 告載有本公司二零二三年年度業績全文，符合香港聯合交易所有限公司GEM 證券上市規則（「GEM上市規則」）有關年度業績初步公告附載之資料的相關規 定。 承董事會命 大唐潼金控股有限公司 主席 李大宏 ...

Financial Performance - Revenue for the three months ended December 31, 2022, was HK$38,680,000, a decrease of 14.6% from HK$45,333,000 in the same period of 2021[9] - Gross profit for the three months ended December 31, 2022, was HK$19,141,000, down 22.5% from HK$24,710,000 in the previous year[9] - Profit for the period attributable to equity holders of the Company was HK$4,763,000, compared to HK$5,328,000 in the same quarter of 2021, representing a decline of 10.7%[11] - Profit before tax for the three months ended December 31, 2022, was HK$10,009,000, down 26.5% from HK$13,607,000 in the previous year[9] - Total comprehensive profit for the period was HK$16,884,000, compared to HK$15,677,000 in the same period of 2021, indicating an increase of 7.7%[13] - The Company reported a basic/diluted earnings per share of HK$0.00 for the three months ended December 31, 2022, compared to HK$0.08 in the same period of 2021[11] - Operating results for the nine months ended December 31, 2022, were HK$42,282,000, significantly higher than HK$22,103,000 in the previous year[9] - The net profit for the nine months ended December 31, 2022, was HK$4,967,000, with a total loss of HK$37,563,000 reported[22] Expenses and Costs - The Company incurred finance costs of HK$11,945,000 for the three months ended December 31, 2022, compared to HK$2,185,000 in the same period of 2021, reflecting an increase of 446.5%[9] - The Company’s administrative expenses for the three months ended December 31, 2022, were HK$13,687,000, up from HK$5,441,000 in the same period of 2021, indicating a rise of 151.5%[9] - Administrative and other expenses increased by approximately 50.3% to HK$20.6 million from HK$13.7 million in the corresponding period last year, primarily due to higher professional fees[74] - Selling and distribution expenses decreased to approximately HK$3.1 million, down approximately 22.2% from approximately HK$4.0 million in the corresponding period last year[108] Share Capital and Equity - The issued share capital increased to HK$5,987,000, while the share premium reached HK$1,991,309,000[16] - The total equity attributable to equity holders of the company was HK$358,175,000 at the end of the reporting period[16] - Retained losses accumulated to HK$1,605,942,000 as of December 31, 2022[16] - The company issued new shares during the rights issue, raising HK$152,816,000[16] Cash Flow and Financial Position - As of December 31, 2022, the Group had cash and cash equivalents amounting to approximately HK$40.1 million, compared to approximately HK$4.4 million as of March 31, 2022[113] - The Group's net current liabilities amounted to approximately HK$28.5 million as of December 31, 2022, down from approximately HK$181.7 million as of March 31, 2022[113] - The current ratio as of December 31, 2022, was approximately 0.79, significantly improved from approximately 0.19 as of March 31, 2022[113] Business Operations - The company is engaged in gold exploration, mining, and mineral processing, with operations primarily in the PRC and Hong Kong[29] - The increase in revenue is primarily attributed to the recovery of gold mining operations[89] - The Group's subsidiaries are primarily engaged in gold exploration, mining, and mineral processing, with gold concentrate as the main product[71] Corporate Governance and Management - The company has not appointed a chief executive officer since the retirement of Mr. Feng Jun on September 12, 2017, and the board is reviewing the structure for future appointments[149] - The company will continue to evaluate its corporate governance structure and make appointments as suitable candidates are identified[149] Share Option Scheme - The Share Option Scheme allows the company to grant options to employees and directors, with a maximum entitlement of 149,678,216 shares, representing 10% of the total shares issued as of the approval date[154] - A total of 89,247,286 share options were granted, with 19,584,000 options granted to employees and 9,792,000 to consultants during the reporting period[168] - The options granted are vested upon grant, and the minimum holding period before exercise is three years[176] - The share options are part of the company's strategy to enhance employee engagement and align interests with shareholders[151] Significant Events and Future Outlook - The Company is better positioned to execute its business growth plan for 2023 following a successful fund-raising exercise in May 2022[120] - No significant events occurred after December 31, 2022, up to the report date[184]

Financial Performance - Revenue for the six months ended September 30, 2022, was HK$78,911,000, representing a 52.5% increase from HK$51,749,000 in the same period of 2021[13] - Gross profit for the six months ended September 30, 2022, was HK$42,649,000, up 182.5% from HK$15,109,000 in the previous year[13] - Profit for the period attributable to equity holders of the Company was HK$10,709,000 for the six months ended September 30, 2022, compared to a loss of HK$5,244,000 in the same period of 2021[15] - Basic earnings per share for the six months ended September 30, 2022, was HK$0.22, compared to a loss per share of HK$0.35 in the previous year[15] - Operating results for the six months ended September 30, 2022, were HK$30,088,000, significantly higher than HK$3,980,000 in the same period of 2021[13] - Other income for the six months ended September 30, 2022, was HK$4,221,000, compared to no other income in the same period of 2021[13] - The Company reported a profit before tax of HK$23,057,000 for the six months ended September 30, 2022, compared to a loss before tax of HK$3,449,000 in the previous year[13] - Profit for the three months ended 30 September 2022 was HK$8,258,000, compared to a loss of HK$1,156,000 in the same period of 2021[18] Financial Position - Non-current assets decreased from HK$882,176,000 as of 31 March 2022 to HK$770,240,000 as of 30 September 2022[26] - Current liabilities decreased from HK$227,534,000 as of 31 March 2022 to HK$129,597,000 as of 30 September 2022[46] - Net current liabilities improved from HK$185,488,000 as of 31 March 2022 to HK$57,631,000 as of 30 September 2022[46] - Cash and cash equivalents increased significantly from HK$4,444,000 as of 31 March 2022 to HK$47,764,000 as of 30 September 2022[35] - Total assets less current liabilities increased to HK$712,609,000 as of 30 September 2022 from HK$696,688,000 as of 31 March 2022[46] - Borrowings decreased from HK$388,758,000 as of 31 March 2022 to HK$314,392,000 as of 30 September 2022[46] - The Company reported a total equity of HK$398,217,000 as of 30 September 2022, up from HK$271,796,000 as of 31 March 2022[46] Cash Flow and Financing - The company issued new shares upon rights issue, raising HK$152,816,000 during the reporting period[49] - Net cash generated from financing activities was HK$48,304,000, a significant increase compared to HK$4,683,000 in the previous year[57] - The company experienced a net cash outflow from operating activities of HK$320,000, contrasting with a cash inflow of HK$34,782,000 in the prior year[57] - Cash and cash equivalents at the end of the period stood at HK$47,764,000, down from HK$10,078,000 a year earlier[57] - The company reported an exchange loss of HK$47,306,000 due to foreign currency translation adjustments[49] Segment Performance - The Group reported segment revenue of HK$78,911,000 from external customers in the Gold Mining Division for the six months ended 30 September 2022[70] - Gross profit for the Gold Mining Division was HK$42,649,000, resulting in a segment profit before taxation of HK$36,545,000[70] - The net profit for the period was HK$18,283,000, with a loss of HK$13,488,000 recorded in the Corporate Division[70] - Total segment assets amounted to HK$842,206,000, with HK$798,436,000 attributed to the Gold Mining Division[70] Corporate Governance - The company has established an audit committee comprising three independent non-executive directors to oversee financial reporting and risk management[183] - The audit committee reviewed the unaudited condensed consolidated financial statements for the six months ended September 30, 2022, and confirmed compliance with applicable accounting standards and GEM Listing Rules[183] - The company has complied with all Code Provisions set out in the Corporate Governance Code during the reporting period, except for the separation of the roles of chairman and chief executive officer[187] - The company emphasizes the importance of effective corporate governance practices to enhance corporate value and safeguard shareholder interests[187] Future Outlook - The company plans to continue exploring market expansion opportunities and new product development in the upcoming periods[51] - The Company aims to enhance production efficiency and competitiveness while seeking new growth opportunities through mergers and acquisitions[180] - The Group plans to utilize remaining proceeds for repayment of other indebtedness by March 31, 2023[168]

Financial Performance - Revenue for the three months ended June 30, 2022, was HK$42,056,000, an increase of 83.1% compared to HK$22,992,000 in the same period of 2021[15] - Gross profit for the same period was HK$22,780,000, up from HK$6,288,000, representing a significant increase of 262.5%[15] - Profit before tax for the period was HK$12,658,000, compared to a loss of HK$2,987,000 in the previous year[15] - The profit attributable to equity holders of the Company was HK$5,848,000, a turnaround from a loss of HK$3,297,000 in the same quarter of 2021[17] - Basic and diluted earnings per share for the period were both HK$0.16, compared to a loss per share of HK$0.22 in the previous year[17] - The total comprehensive loss for the period was HK$12,368,000, compared to a comprehensive income of HK$1,290,000 in the same period last year[21] - Non-controlling interest contributed HK$4,177,000 to the profit for the period, compared to HK$310,000 in the previous year[17] - The total comprehensive income for the period was HK$4,065,000, with a loss of HK$3,297,000 attributed to the net profit[26] - The unaudited consolidated profit for the reporting period was approximately HK$10.0 million, compared to a loss of approximately HK$3.0 million in the same period last year[71] - Basic earnings per share for the reporting period was approximately HK cents 0.16, compared to a loss of HK cents 0.22 in the previous year[71] Expenses and Costs - Administrative expenses increased to HK$5,194,000 from HK$4,590,000, reflecting a rise of 13.2%[15] - Finance costs for the period were HK$4,479,000, compared to HK$3,944,000 in the previous year, indicating a 13.5% increase[15] - Cost of inventories sold for the three months ended June 30, 2022, was HK$19,276,000, an increase from HK$16,704,000 in the same period of 2021[44] - Depreciation expenses for the three months ended June 30, 2022, amounted to HK$8,800,000, up from HK$7,992,000 in the same period of 2021[44] - Staff costs for the three months ended June 30, 2022, totaled HK$2,833,000, an increase from HK$2,429,000 in the same period of 2021[44] - Selling and distribution expenses decreased by approximately 9.6% to HK$0.67 million from HK$0.74 million in the previous year[64][69] - Administrative and other expenses increased by approximately 13.2% to HK$5.2 million from HK$4.6 million in the previous year[71] Share Capital and Financial Position - As of June 30, 2022, the issued share capital was HK$5,987,000, and the share premium was HK$1,991,309,000[24] - The retained profit (accumulated losses) stood at HK$1,615,566,000 as of June 30, 2022[24] - The company issued new shares upon rights issue amounting to HK$152,816,000[24] - The actual net proceeds raised from the Rights Issue was approximately HK$152.8 million, with HK$104.4 million utilized and HK$48.4 million remaining[100] - The Company has utilized HK$30.1 million for the redemption of convertible bonds and HK$55.5 million for the repayment of loans from Ms. Zhao[97] - As of June 30, 2022, the Group had cash and cash equivalents of approximately HK$55.3 million, up from HK$4.4 million on March 31, 2022[71] - The current ratio as of June 30, 2022, was approximately 0.64, compared to 0.19 on March 31, 2022[71] - The Group's gearing ratio was approximately 0.42 as of June 30, 2022, down from 0.52 on March 31, 2022[71] - Trade receivables of approximately HK$3.9 million were pledged to secure the Group's borrowings as of June 30, 2022[77] Corporate Governance and Structure - The Company has established an Audit Committee to oversee financial reporting and risk management processes[108] - The Board comprises five members, including Dr. Li Dahong as the executive director[138] - There were no interests or short positions in shares recorded for directors or chief executives as of June 30, 2022[117] - The Company will continue to review its board structure and appoint a new chief executive when a suitable candidate is identified[115] Future Outlook and Challenges - The Company aims to maintain and increase production activities, improve efficiency, and expand mining and mineral processing capabilities[105] - The Group is actively seeking new growth opportunities through mergers and acquisitions, business integration, and partnerships[105] - The Company is facing challenges including uncertainties from China-US trade disputes and the ongoing effects of the COVID-19 epidemic[104] - The Company plans to improve its financial performance and create sustained growth to enhance shareholder value[105] Share Options - The Company adopted a Share Option Scheme on September 21, 2021, with 54,624,000 share options granted to employees and consultants as of May 24, 2022[130] - No share options were exercised, cancelled, or lapsed during the three months ended June 30, 2022[130] - As of June 30, 2022, there were 54,624,000 outstanding share options, all of which have vested and are issuable for ordinary shares of the Company[130] - The Company has maintained a sufficient public float as of the report date[130] Miscellaneous - The company’s principal activities include gold exploration, mining, and mineral processing[31] - The unaudited condensed consolidated financial statements are presented in Hong Kong dollars (HK$) and values are rounded to the nearest thousand[31] - The company is listed on the GEM of the Stock Exchange of Hong Kong Limited[31] - No significant events occurred after June 30, 2022, up to the date of the report[136]

Financial Performance - The Group increased production days compared to the previous fiscal year, resulting in higher product throughput and revenues [24]. - The Company turned net profits for the Group and further narrowed losses attributable to shareholders compared to the previous fiscal year [24]. - For the year ended March 31, 2022, the group's revenue was approximately HK$128.4 million, representing an increase of approximately 28.7% from HK$99.8 million in the previous year [38]. - The group's gross profit for the year was approximately HK$36.9 million, an increase of approximately 49.1% from HK$24.8 million, with a gross profit margin of approximately 28.8% compared to 24.8% in the previous year [39]. - The consolidated profit for the year amounted to approximately HK$7.8 million, compared to a consolidated loss of approximately HK$16.6 million in the previous year [49]. - The net loss attributable to equity holders was approximately HK$0.1 million, a significant improvement from a loss of approximately HK$18.0 million in the previous year [49]. Financial Position - On May 17, 2022, the Company completed a rights issue raising net proceeds of approximately HK$152.9 million, improving its financial status [26]. - The rights issue allowed the Company to resolve outstanding financial obligations, including long-time debts and disputes [26]. - The company raised approximately HK$152.9 million through a rights issue completed on May 17, 2022, improving its financial position and enabling it to address outstanding financial obligations [27]. - As of March 31, 2022, the group had cash and cash equivalents of approximately HK$4.4 million, down from HK$5.9 million in the previous year [49]. - The current ratio as of March 31, 2022, was approximately 0.19, compared to 0.18 in the previous year [49]. - The group's gearing ratio was approximately 52% as of March 31, 2022, unchanged from the previous year [49]. - The Group's financial health relies on sufficient funding and cash flow for operations, development, and acquisitions of quality mining assets [130]. Cost Management - Selling and distribution expenses decreased by approximately 41.6% to HK$2.6 million from HK$4.5 million in the previous year [40]. - Administrative expenses decreased by approximately 11.7% to HK$22.1 million from HK$25.1 million in the previous year [41]. - The total staff costs for the year amounted to approximately HK$8.6 million, an increase from approximately HK$7.8 million in 2021 [67]. Legal and Regulatory Matters - Following the rights issue, the last unresolved litigation against the Company was discontinued, marking the first time in about 11 years without material legal proceedings [26]. - The last litigation against the Company was discontinued in June 2022, freeing it from material legal proceedings [70]. - The Group's operations are subject to various government regulations, which have become lengthy and costly, potentially affecting mining and exploration rights [120]. - The Group monitors policy developments closely to prepare for anticipated regulatory changes in the mining sector [120]. - The Group's mining activities are affected by government initiatives aimed at consolidating mining rights, which may impact operational efficiency [121]. Environmental and Social Responsibility - The Group's environmental policies aim to minimize adverse impacts from mining activities and ensure compliance with regulatory requirements [138]. - The Group is focused on proactive measures for environmental protection, including impact assessments and waste recycling [138]. - The nationwide campaign for building green mines has intensified, with strict enforcement of pollution control standards, which may increase operating costs [124]. - The Group has committed to protecting natural and social environments while ensuring compliance with all applicable laws and regulations [136]. - The Group had no environmental claims, lawsuits, penalties, or disciplinary actions during the Year [140]. Strategic Growth and Development - The Company is focusing on expanding its mining and mineral processing capabilities to improve financial performance and competitiveness [72]. - The Company aims to explore new growth opportunities through mergers and acquisitions, business integration, and partnerships [72]. - The Group is seeking new growth opportunities through cautious acquisitions of mining assets and business integration [74]. - The company plans to expand its mining and ore processing capacity to improve financial performance [74]. - The Group is focused on creating and sustaining long-term growth to enhance shareholder value [74]. Customer and Supplier Relationships - The Group's five largest customers accounted for approximately 100% of total sales for the Year, with the largest customer also accounting for approximately 100% [174]. - Purchases from the Group's five largest suppliers accounted for approximately 100% of total purchases for the Year, with the largest supplier accounting for approximately 10.9% [174]. Governance and Compliance - The audited consolidated financial statements for the year ended 31 March 2022 were reviewed by the Audit Committee before approval by the Board [162]. - The Board does not recommend the payment of any dividend for the Year, consistent with the previous year (2021: Nil) [147]. - There were no equity-linked agreements entered into by the Company during the Year, except for those disclosed in the report [151]. - As of March 31, 2022, no Directors or chief executives held interests or short positions in the Company's shares or debentures [195]. - The Company maintained permitted indemnity provisions for Directors against potential legal liabilities during the Year [188].

Financial Performance - Revenue for the three months ended December 31, 2021, was HK$45,333,000, a significant increase from HK$6,127,000 in the same period of 2020, representing a growth of 640%[12] - Gross profit for the nine months ended December 31, 2021, was HK$39,819,000, compared to HK$9,304,000 in the previous year, indicating a year-over-year increase of 328%[12] - Profit for the period attributable to equity holders of the Company for the three months ended December 31, 2021, was HK$5,328,000, a recovery from a loss of HK$11,715,000 in the same period of 2020[15] - The profit before tax for the nine months ended December 31, 2021, was HK$10,158,000, compared to a loss of HK$23,573,000 in the previous year[12] - Basic earnings per share for the three months ended December 31, 2021, was HK$0.3560, recovering from a loss per share of HK$0.7826 in the same period of 2020[15] - For the nine months ended December 31, 2021, the profit for the period was HK$9,110,000, compared to a loss of HK$14,321,000 in the same period of 2020[18] - Total comprehensive income for the period was HK$15,434,000, a significant improvement from a loss of HK$21,032,000 in the previous year[18] - The equity holders of the Company reported a profit of HK$11,367,000 for the period, compared to a loss of HK$18,173,000 in the same period of 2020[18] Costs and Expenses - Total cost of sales for the nine months ended December 31, 2021, was HK$57,263,000, up from HK$42,749,000 in the previous year, reflecting an increase of 34%[12] - Administrative expenses for the nine months ended December 31, 2021, were HK$13,687,000, down from HK$17,555,000 in the previous year, showing a decrease of 22%[12] - Selling and distribution expenses increased by approximately 10.2% to approximately HK$4.0 million from HK$3.7 million in the previous year[79] - Depreciation expenses for the three months ended December 31, 2021, were HK$9,014,000, up from HK$7,599,000 in the same period of 2020[58] Financial Position - As of December 31, 2021, the total equity attributable to equity holders of the Company was HK$225,365,000, an increase from HK$191,986,000 at the end of 2020[22] - The Company had accumulated losses of HK$1,722,046,000 as of December 31, 2021, compared to HK$1,724,826,000 at the end of 2020[22] - The foreign currency translation reserve increased to HK$2,079,000 as of December 31, 2021, from a deficit of HK$28,521,000 in the previous year[22] - As of December 31, 2021, the Group had cash and cash equivalents amounting to approximately HK$4.4 million, down from approximately HK$5.9 million as of March 31, 2021[94] - The current ratio as of December 31, 2021, was approximately 0.25, an increase from approximately 0.19 as of March 31, 2021[94] - The Group's gearing ratio was approximately 0.58 as of December 31, 2021, compared to approximately 0.52 as of March 31, 2021[94] Corporate Governance and Compliance - The financial statements comply with the applicable disclosure provisions of the Rules Governing the Listing of Securities on the GEM of the Stock Exchange[28] - The Group's unaudited condensed consolidated financial statements have been prepared in accordance with all applicable Hong Kong Financial Reporting Standards (HKFRSs) and have no material impact from the adoption of new HKFRSs[37] - The Audit Committee has reviewed the unaudited condensed consolidated financial statements for the nine months ended December 31, 2021, ensuring compliance with applicable accounting standards[111] - The Company has adopted a code of conduct for securities transactions by Directors, ensuring compliance with the Required Standard of Dealings[115] - The Company aims to maintain high standards of corporate governance to enhance corporate value and safeguard shareholder interests[115] Future Outlook and Strategies - The Company aims to continue its market expansion and product development strategies to enhance future performance[5] - The Group anticipates facing challenges in the remaining of 2022 due to economic uncertainties and tightening regulations in the mining industry[104] - The Group is taking actions to raise funds through a rights issue to alleviate ongoing concerns and reshape its business growth plan[104] - The Company is committed to improving its asset scale and quality as well as financial performance over time through organic growth and potential acquisitions[104] Share Capital and Financing - The Company has proposed a rights issue based on three rights shares for every one ordinary share[42] - The rights issue aims to raise up to approximately HK$157.2 million before expenses, assuming all qualifying shareholders take up their allotment in full[167] - The Board proposed to change the board lot size for trading on the Stock Exchange from 24,000 Shares to 96,000 Adjusted Shares upon the Capital Reorganisation and Rights Issue becoming effective[173] - The Company issued Convertible Bonds with an aggregate principal amount of HK$30,095,357, with an initial conversion price of HK$0.02 per share[98] - Upon full exercise of the Convertible Bonds, 1,504,767,850 new ordinary shares will be issued, diluting the substantial shareholder's stake from approximately 13.41% to 12.57%[98] Share Option Scheme - The Share Option Scheme allows for a maximum of 149,678,216 Shares to be issued, representing 10% of the total Shares in issue as of the approval date[127] - The overall limit for outstanding options under the Share Option Scheme shall not exceed 30% of the Shares in issue at any time[128] - Each Participant's maximum entitlement under the Share Option Scheme is capped at 1% of the total number of Shares in issue within any 12-month period[129] - The purpose of the Share Option Scheme is to provide incentives to Participants for their contributions and to attract high-caliber employees[126] - The option period for shares under the Share Option Scheme shall not exceed 10 years from the date of grant[134]