Financial Performance - For the six months ended September 30, 2023, the company reported revenue of HKD 512,879,000, an increase of 6.5% compared to HKD 479,360,000 in the same period of 2022[8] - The gross profit for the same period was HKD 40,995,000, down 10.5% from HKD 45,765,000 year-on-year[8] - The company recorded a profit before tax of HKD 5,838,000, a decrease of 68.3% from HKD 18,375,000 in the previous year[8] - Basic and diluted earnings per share for the six months were HKD 1.38, down from HKD 2.62 in the same period last year, representing a decline of 47.3%[8] - The company reported a net profit of HKD 8,298,000 for the six months ended September 30, 2023, compared to HKD 15,735,000 for the same period in 2022, representing a decrease of 47.3%[22] - Total revenue for the six months ended September 30, 2023, was HKD 512,879,000, an increase of 6.9% from HKD 479,360,000 in the same period of 2022[22] - Revenue from environmental cleaning services for the six months was HKD 507,547,000, up from HKD 474,168,000 in 2022, reflecting a growth of 7.0%[26] - The company’s property management services revenue slightly increased to HKD 5,332,000 from HKD 5,192,000, a rise of 2.7%[26] - The adjusted profit before tax for the six months ended September 30, 2023, was HKD 5,838,000, down from HKD 18,375,000 in 2022, a decline of 68.3%[28] Assets and Liabilities - As of September 30, 2023, total current assets increased to HKD 307,457,000 from HKD 254,568,000 as of March 31, 2023, reflecting a growth of 20.7%[10] - Total liabilities increased to HKD 180,233,000 from HKD 138,935,000, indicating a rise of 29.7%[10] - Total assets increased to HKD 366,671,000 as of September 30, 2023, from HKD 326,128,000 as of March 31, 2023, representing a growth of approximately 12.4%[29] - Total liabilities rose to HKD 243,848,000 as of September 30, 2023, compared to HKD 205,132,000 as of March 31, 2023, indicating an increase of about 18.9%[29] - The company's current assets and current liabilities were approximately HKD 307,457,000 and HKD 180,233,000, respectively, resulting in a current ratio of 1.71 as of September 30, 2023, down from 1.83 as of March 31, 2023[63] - Bank borrowings increased by approximately 73.7% to HKD 54,170,000 as of September 30, 2023, compared to HKD 31,180,000 as of March 31, 2023[64] - The total interest-bearing liabilities amounted to approximately HKD 82,449,000 as of September 30, 2023, compared to HKD 68,158,000 as of March 31, 2023[74] Cash Flow - Cash generated from operating activities significantly increased to HKD 57,976,000 in 2023 from HKD 9,862,000 in 2022, marking a growth of 486.5%[13] - The company’s cash and cash equivalents increased to HKD 113,710,000 from HKD 72,340,000, a growth of 57.2%[10] - The company’s cash and cash equivalents rose to HKD 113,710,000 as of September 30, 2023, up from HKD 94,207,000 a year earlier, indicating a year-over-year increase of 20.8%[13] - The total cash used in investing activities was HKD 30,897,000 for the six months ended September 30, 2023, compared to HKD 3,360,000 in 2022, indicating a significant increase in investment outflows[13] - The company’s financing activities generated a net cash inflow of HKD 14,291,000, slightly up from HKD 14,122,000 in the previous year, showing a marginal increase of 1.2%[13] Shareholder Information - As of September 30, 2023, the three directors hold a total of 369,000,000 shares, representing 61.50% of the company's equity[78] - Wong Lai Man and Wan Wing Ting, spouses of the directors, are also considered to hold 369,000,000 shares each, equating to 61.50% of the equity[83] - The major shareholders include Wan Cheng Global Limited and Li Hang Investment Limited, each holding 175,500,000 shares, which is 29.25% of the equity[83] - The total number of shares held by the directors and their related entities indicates a significant concentration of ownership within the company[82] - The ownership structure suggests a strong familial connection among the major shareholders, which may influence corporate governance[82] - The company has not disclosed any additional interests or holdings by other individuals outside of the directors and their immediate families as of September 30, 2023[84] Corporate Governance - The company has adopted and complied with the Corporate Governance Code as per the GEM Listing Rules, ensuring high standards of corporate governance[89] - The audit committee, consisting of three independent non-executive directors, has reviewed the unaudited condensed consolidated financial statements for the six months ended September 30, 2023[95] - The board confirms that there are no interests or potential conflicts of interest among controlling shareholders or directors that could compete with the company's business[86] - The company is committed to maintaining transparency and protecting shareholder interests through its governance practices[89] Future Plans - The company plans to focus on expanding its market presence and enhancing product offerings in the upcoming quarters[7] - The group aims to secure more contracts from various Hong Kong government departments to expand its service offerings and revenue streams[52] - The group plans to leverage its financial resources to adapt to business and technological trends for sustainable development[54] Employee Costs - Employee costs for the six months ended September 30, 2023, amounted to HKD 416,915,000, an increase of 7.2% compared to HKD 388,744,000 in the same period of 2022[33] - The total employee costs for the six months ended September 30, 2023, were approximately HKD 416,915,000, an increase from approximately HKD 388,744,000 for the same period in 2022[76] Dividends and Share Options - The company did not propose any dividend for the six months ended September 30, 2023[36] - The board of directors did not recommend the payment of an interim dividend for the six months ended September 30, 2023, consistent with the previous period[62] - As of September 30, 2023, no options have been granted under the share option scheme[92] - The share option scheme was adopted on March 20, 2017, to attract and retain talented participants for the company's future development[91]

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，並明確表示概不對因 本公告全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任 何責任。 Man Shing Global Holdings Limited 萬成環球控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：8309） 截至2023年9月30日止六個月 中期業績公告 萬成環球控股有限公司（「本公司」）董事（「董事」）會（「董事會」）謹此公佈本公司及 其附屬公司截至2023年9月30日止六個月之未經審核簡明綜合業績。本公告載列 本公司2023╱24年中期報告全文，並符合聯交所GEM證券上市規則（「GEM上市 規則」）內有關中期業績初步公告附載資料之相關規定。 代表 萬成環球控股有限公司 董事會主席 黃創成 香港，2023年11月10日 於本公告日期，董事會包括三名執行董事，即黃創成先生、黃萬成先生、黃志豪 ...

Financial Performance - For the three months ended June 30, 2023, the company reported revenue of HKD 257,445,000, an increase of 15.3% compared to HKD 223,331,000 for the same period in 2022[5] - The gross profit for the same period was HKD 19,102,000, slightly down from HKD 19,239,000 in 2022, resulting in a gross margin of 7.4%[5] - The company recorded a profit attributable to owners of HKD 2,071,000, a decrease of 46.5% from HKD 3,879,000 in the previous year[5] - Basic and diluted earnings per share were HKD 0.35, down from HKD 0.65 in the same quarter of 2022[5] - The group's gross profit decreased from approximately HKD 19,239,000 to about HKD 19,102,000, a decline of approximately HKD 137,000 or 0.7%[30] - The gross profit margin fell from 8.6% to 7.4%, a decrease of about 1.2%[30] - The company reported other income of HKD 423,000, significantly lower than HKD 1,188,000 in the previous year[16] - Other income decreased from approximately HKD 1,188,000 to about HKD 423,000, primarily due to the absence of government subsidies received in the previous period[31] - The company incurred total employee costs of HKD 212,273,000, up from HKD 182,695,000 in 2022, reflecting an increase of 16.2%[20] - The current tax expense for the period was HKD 2,753,000, compared to HKD 1,521,000 in 2022, marking an increase of 80.9%[19] Revenue Breakdown - Revenue from street cleaning solutions increased to HKD 209,493,000, up 21.8% from HKD 171,913,000 in 2022[15] - Revenue from building cleaning solutions decreased to HKD 21,825,000, down 9.0% from HKD 24,160,000 in 2022[15] - The income from cleaning solutions services was approximately HKD 254,700,000, representing a 15.3% increase from HKD 220,800,000 in the same period of 2022[24] Expenses and Costs - Administrative expenses rose to HKD 16,436,000, compared to HKD 13,911,000 in the same period last year, reflecting an increase of 18.1%[5] - The increase in administrative expenses was mainly due to higher depreciation, insurance costs, and bank fees[32] - Financing costs increased to HKD 1,493,000 from HKD 1,164,000, representing a rise of 28.3%[5] - Financing costs rose from approximately HKD 1,164,000 to about HKD 1,493,000, an increase of approximately HKD 329,000 or 28.3%[34] Shareholder Information - The board did not recommend the payment of dividends for the period ending June 30, 2023[36] - Shareholders, including Mr. Huang Chuang Cheng, Mr. Huang Wan Cheng, and Mr. Huang Zhi Hao, collectively hold 369,000,000 shares, representing 61.50% of the company's equity[37] - Major shareholders include Wan Cheng Global Limited and Li Hang Investment Limited, each holding 175,500,000 shares, representing 29.25% of the company[41] - Wong Lai Man and Wan Wing Ting, both spouses of directors, hold 369,000,000 shares each, accounting for 61.50% of the company[41] Strategic Focus and Outlook - The company continues to focus on expanding its cleaning and property management services, with a strategic emphasis on enhancing operational efficiency and service quality[9] - The company aims to secure more government contracts and explore new opportunities in the private sector to expand its customer base[28] - The management is optimistic about the recovery of the Hong Kong economy and the prospects for the cleaning services industry[26] - The company plans to leverage its financial resources to enhance business operations and improve service quality for maximizing shareholder returns[28] Corporate Governance - The company has adhered to all applicable provisions of the Corporate Governance Code during the reporting period[45] - The audit committee, composed of three independent non-executive directors, has reviewed the unaudited condensed consolidated financial statements[51] - The company has not purchased, sold, or redeemed any of its listed securities during the reporting period[44] - No share options have been granted under the share option scheme since its adoption until June 30, 2023[49]

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，並明確表示概不對因 本公告全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任 何責任。 Man Shing Global Holdings Limited 萬成環球控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：8309） 截至2023年6月30日止三個月 第一季業績公告 萬成環球控股有限公司（「本公司」）董事（「董事」）會（「董事會」）謹此公佈本公司及 其附屬公司截至2023年6月30日止三個月之未經審核簡明綜合業績。本公告載列 本公司2023╱24年第一季報告全文，並符合聯交所GEM證券上市規則（「GEM上 市規則」）內有關第一季業績初步公告附載資料之相關規定。 代表 萬成環球控股有限公司 董事會主席 黃創成 香港，2023年8月11日 於本公告日期，董事會包括三名執行董事，即黃創成先生、黃萬成先生、黃志豪 ...

Financial Performance - For the fiscal year ending March 31, 2023, the company reported total revenue of HKD 997,030,000, representing a 50.1% increase from HKD 663,958,000 in the previous year[8]. - The net profit attributable to the company's equity holders for the same period was HKD 28,264,000, a slight decrease of 0.1% from HKD 28,615,000 in the prior year[8]. - Basic and diluted earnings per share for the year were HKD 4.71, compared to HKD 0.38 in the previous year, indicating a significant recovery in profitability[8]. - The company's total assets increased to HKD 191,114,000, up from HKD 133,879,000 in the previous year, reflecting a growth of 42.5%[8]. - The company reported a total equity attributable to equity holders of HKD 123,024,000, up from HKD 94,760,000 in the previous year, marking a growth of 30%[8]. - The group's gross profit increased by approximately HKD 34,766,000 or 57.4% from about HKD 60,612,000 for the year ended March 31, 2022, to about HKD 95,378,000 during the reporting period[27]. - The gross profit margin rose from approximately 9.1% for the year ended March 31, 2022, to about 9.6%, an increase of approximately 0.5%[27]. - Other income increased from approximately HKD 1,189,000 for the year ended March 31, 2022, to about HKD 4,777,000, primarily due to government pandemic relief funds and employment support scheme grants[28]. Revenue Breakdown - Revenue from cleaning solutions services amounted to approximately HKD 986,000,000, accounting for about 98.9% of total revenue, with a growth of 50.5% from approximately HKD 655,200,000 last year[19]. - The property management services segment generated revenue of approximately HKD 11,000,000, which is a 26.5% increase from approximately HKD 8,700,000 in the previous fiscal year[21]. - The increase in revenue is primarily attributed to multiple new contracts awarded by the Food and Environmental Hygiene Department for street cleaning services[24]. Operational Strategies - The company aims to strengthen relationships with government departments and private clients to secure potential projects in the industry[10]. - The company plans to explore more business opportunities and expand its market share while maintaining strict internal controls to enhance operational efficiency[11]. - The company plans to continue exploring new opportunities and expanding its business in the cleaning services sector, particularly by securing more contracts from various Hong Kong government departments[22]. - The company aims to enhance operational efficiency and improve service quality through the adoption of new technologies and strategies[23]. Corporate Governance - The company has maintained high standards of corporate governance and has adopted the Corporate Governance Code as its governance framework[72]. - The board has established specific committees including the audit committee, remuneration committee, nomination committee, and risk management committee to ensure proper oversight[72]. - The company emphasizes the importance of good corporate governance for effective management, successful operations, business growth, and enhancing shareholder value[72]. - The independent non-executive directors provide independent judgment on the group's strategies, policies, performance, resources, and code of conduct[63]. - The company has a commitment to maintaining good business ethics and corporate governance practices as one of its primary objectives[72]. Risk Management - The company has established an effective internal control and risk management system, reviewed bi-monthly, covering a rolling period of 12 months[130]. - The company faces human resource risks due to intense competition for talent in the environmental cleaning industry[133]. - The company has implemented measures to manage operational risks, including developing operational procedures and ensuring adequate staffing[137]. - The company monitors legal compliance risks and evaluates the effectiveness of internal control policies[127]. - The company aims to manage risks by identifying, assessing, and implementing plans to mitigate or maintain acceptable risk levels[132]. Employee Management - As of March 31, 2023, the group had approximately 7,117 employees, a decrease from 7,833 employees in 2022[47]. - Total employee costs for the reporting period amounted to approximately HKD 814,662,000, compared to HKD 535,308,000 in 2022, reflecting a significant increase[47]. - The company has focused on employee retention by offering wages above the minimum wage and providing extensive training programs to enhance employee skills[174]. - The gender ratio of employees as of March 31, 2023, is 43.4% male to 56.6% female, indicating a high level of gender diversity within the company[115]. Future Outlook - The company expresses confidence in the future of the cleaning services industry in Hong Kong, driven by heightened public awareness of health and hygiene post-pandemic[22]. - Future strategies include leveraging financial resources to stay aligned with business and technological trends for sustainable development[23]. - The company aims to maintain a relatively conservative debt ratio while ensuring sufficient cash buffers for operational needs in the coming months[144]. Financial Management - The current ratio improved to 1.83 times as of March 31, 2023, compared to 1.47 times as of March 31, 2022, mainly due to a reduction in bank and other borrowings within current liabilities[31]. - Total interest-bearing debt decreased from approximately HKD 116,163,000 as of March 31, 2022, to about HKD 68,158,000 as of March 31, 2023[33]. - The capital debt ratio was approximately 25.3% as of March 31, 2023, down from about 79.9% as of March 31, 2022, primarily due to a reduction in bank borrowings[34]. - The company has adopted a dividend policy that allows for the consideration of dividend payments based on financial conditions and operational needs[154]. Shareholder Communication - The board has reviewed the implementation and effectiveness of the shareholder communication policy, finding it effective in promoting transparency and communication with shareholders[161]. - The company has established various communication channels to ensure timely disclosure of information to shareholders and potential investors[160].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示概不對因本公告全部 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。 Man Shing Global Holdings Limited 萬成環球控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：8309） 截至2023年3月31日止年度之 全年業績公告 萬成環球控股有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然公佈本公司 及其附屬公司截至2023年3月31日止年度的經審核綜合全年業績。本公告載有 本 公 司2023年 年 報（「年 報」）全 文，符 合 香 港 聯 合 交 易 所 的GEM證 券 上 市 規 則 （「GEM上市規則」）中有關年度業績初步公告附帶資料的相關規定。年報的印刷 本將於適時寄發予本公司股東，並分別刊載於香港聯合交易所有限公司網站 www.hkexnews.hk 及本公司網站www.manshing.com.hk 。 代表 萬成環球控股有限公司 主席兼執行董事 黃創成 香港，2023年6月26日 ...

Revenue Growth - For the three months ended December 31, 2022, revenue was HKD 255,657,000, representing a 35% increase from HKD 189,490,000 in the same period of 2021[6] - For the nine months ended December 31, 2022, revenue reached HKD 735,017,000, up 62% from HKD 454,693,000 in the prior year[6] - The company's revenue reached a record high of approximately HKD 735,017,000, an increase of 61.7% compared to the same period in 2021[28] - Revenue from cleaning solutions services amounted to approximately HKD 726,982,000, reflecting a 62.1% increase from approximately HKD 448,365,000 in the same period of 2021[30] - The revenue from street cleaning solutions for the three months ended December 31, 2022, was HKD 207,904,000, a 51% increase from HKD 137,534,000 in the same period of 2021[16] - The property management services segment reported revenue of approximately HKD 8,035,000, a 27.0% increase from approximately HKD 6,328,000 in the same period of 2021[31] Profitability - Gross profit for the three months ended December 31, 2022, was HKD 25,957,000, a 43% increase compared to HKD 18,169,000 in the same period of 2021[6] - The group reported a profit before tax of HKD 4,849,000 for the three months ended December 31, 2022, slightly down from HKD 4,961,000 in the same period of 2021[6] - The total comprehensive income for the three months ended December 31, 2022, was HKD 3,277,000, compared to HKD 6,138,000 in the same period of 2021[6] - Basic and diluted earnings per share for the three months ended December 31, 2022, were HKD 0.55, down from HKD 1.02 in the same period of 2021[6] - Basic and diluted earnings per share for the nine months ended December 31, 2022, were HKD 31.68, compared to HKD 10.90 for the same period in 2021[24] - The company reported a net profit attributable to shareholders of approximately HKD 19,012,000, an increase of about HKD 12,469,000 compared to HKD 6,543,000 for the nine months ended December 31, 2021[40] Expenses and Costs - The company reported an increase in administrative expenses to HKD 20,256,000 for the three months ended December 31, 2022, compared to HKD 12,682,000 in the same period of 2021[6] - Other income for the nine months ended December 31, 2022, totaled HKD 4,641,000, compared to HKD 1,366,000 for the same period in 2021, marking a significant increase[17] - Financing costs for the nine months ended December 31, 2022, were HKD 4,261,000, up from HKD 1,501,000 in the same period of 2021[19] - The company's total employee costs for the nine months ended December 31, 2022, were HKD 597,149,000, compared to HKD 365,827,000 in the same period of 2021, representing a 63.2% increase[22] - Administrative expenses increased from approximately HKD 34,998,000 to about HKD 48,878,000, an increase of about HKD 13,880,000, mainly due to higher insurance costs[37] - Financing costs rose from approximately HKD 1,501,000 to about HKD 4,261,000, an increase of about HKD 2,760,000 due to higher interest expenses on bank loans and finance leases[39] Corporate Governance and Shareholding - The company has adopted and complied with the corporate governance code as per GEM Listing Rules, aiming to enhance transparency and protect shareholder interests[52] - The major shareholders of the company include Wan Cheng Global Limited and Li Hang Investment Limited, each holding 175,500,000 shares, representing 29.25% of the total equity[46] - Wong Lai Man and Wan Wing Ting, spouses of major shareholders, are considered to have rights to 369,000,000 shares, which accounts for 61.50% of the total equity[46] - The shareholding structure indicates a strong familial connection among the major shareholders, which may influence company decisions[48] - The company confirms that there are no competing businesses or potential conflicts of interest involving major shareholders or directors[49] - The company has sufficient public float, complying with the minimum requirement of 25% as per GEM listing rules[57] Future Plans and Opportunities - The group plans to continue expanding its cleaning and property management services to enhance revenue growth in the upcoming quarters[10] - The company aims to explore more business opportunities and expand market share while maintaining strict internal controls to improve operational efficiency and financial conditions[33] - The company has been awarded large service contracts by the Hong Kong government, enhancing its operational and financial position, and plans to strengthen relationships with government departments and private clients[33] Dividends - The company did not recommend the payment of dividends for the nine months ended December 31, 2022[25] - No dividend was recommended for the nine months ended December 31, 2022, consistent with the previous year[41] Audit and Oversight - The audit committee consists of three members, including independent non-executive directors, ensuring oversight of financial reporting and internal controls[58] - The unaudited consolidated financial statements for the nine months ending December 31, 2022, have been reviewed by the audit committee[58]

香 港 聯 合 交 易 所 有 限 公 司（「聯 交 所」）GEM特 色 GEM乃為較於聯交所上市的其他公司帶有更高投資風險的中小型公司提供上市的市場。有意投 資者應了解投資有關公司的潛在風險，並應經審慎周詳考慮後方作出投資決定。 由於在GEM上市的公司一般為中小型公司，故於GEM買賣的證券可能會較於聯交所主板買賣的 證券承受更大的市場波動風險，同時無法保證於GEM買賣的證券會有高流通量的市場。 香港交易及結算所有限公司及聯交所對本報告的內容概不負責，對其準確性或完整性亦不發表 任何聲明，並明確表示概不對因本報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。 本 報 告（萬 成 環 球 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」）共 同 及 個 別 對 此 負 全 責）乃 遵 照《聯 交 所GEM證 券 上 市 規 則》（「《GEM上市規則》」）的 規 定 而 提 供 有 關 本 公 司 的 資 料。董 事 經 作 出 一 切 合 理 查 詢 後 確 認，就 彼 等 所 深 知 及 確 信，本 報 告 所 載 資 料 在 各 ...

[Report Overview and Disclaimer](index=2&type=section&id=Report%20Overview%20and%20Disclaimer) This section outlines GEM market characteristics and risks, clarifying directors' responsibilities for report accuracy [Characteristics of GEM Market and Risk Warnings](index=2&type=section&id=Characteristics%20of%20GEM%20Market%20and%20Risk%20Warnings) The GEM market offers a listing platform for small companies, but investors face higher risks, greater volatility, and uncertain liquidity - GEM market provides listing for small and medium-sized companies, with **higher investment risks**[1](index=1&type=chunk) - GEM securities may experience **greater market volatility** and **cannot guarantee high liquidity**[1](index=1&type=chunk) [Report Statement and Directors' Responsibilities](index=2&type=section&id=Report%20Statement%20and%20Directors%27%20Responsibilities) Directors are jointly and severally responsible for this report, confirming its accuracy, completeness, and absence of misleading content - This report is the **joint and several responsibility of the company's directors**, aiming to provide company information[2](index=2&type=chunk) - Directors confirm the report's information is **accurate, complete, and free from misleading or fraudulent content** in all material aspects[2](index=2&type=chunk) [Unaudited Condensed Consolidated Results](index=3&type=section&id=Unaudited%20Condensed%20Consolidated%20Results) This section presents the unaudited condensed consolidated financial performance, including profit or loss and equity changes [Unaudited Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=3&type=section&id=Unaudited%20Condensed%20Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) Revenue increased significantly, but profit decreased due to higher staff costs and lower gross margin Unaudited Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income (For the three months ended June 30) | Indicator | 2022 (HKD thousand) | 2021 (HKD thousand) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 223,331 | 151,108 | 47.8% | | Cost of sales | (204,092) | (135,777) | 50.3% | | Gross profit | 19,239 | 15,331 | 25.5% | | Other income | 1,188 | 208 | 471.2% | | Administrative expenses | (13,911) | (10,434) | 33.3% | | Finance costs | (1,164) | (465) | 150.3% | | Profit before tax | 5,352 | 4,640 | 15.3% | | Income tax expense | (1,473) | (574) | 156.6% | | Profit and total comprehensive income attributable to owners of the Company for the year | 3,879 | 4,066 | -4.6% | | Earnings per share (HK cents) | 0.65 | 0.68 | -4.4% | - Revenue increased by **47.8% year-on-year**, primarily driven by newly awarded street cleaning contracts[5](index=5&type=chunk) - Profit for the period decreased by **4.6% year-on-year**, mainly due to a decline in gross margin caused by increased staff costs and higher finance costs[5](index=5&type=chunk) [Unaudited Condensed Consolidated Statement of Changes in Equity](index=4&type=section&id=Unaudited%20Condensed%20Consolidated%20Statement%20of%20Changes%20in%20Equity) Total equity decreased to **HKD 98,639 thousand** as of June 30, 2022, mainly due to reduced profit contribution Unaudited Condensed Consolidated Statement of Changes in Equity (As of June 30) | Indicator | 2022 (HKD thousand) | 2021 (HKD thousand) | | :--- | :--- | :--- | | Share capital | 6,000 | 6,000 | | Share premium | 33,463 | 42,463 | | Other reserves | 110 | 110 | | Retained earnings | 59,066 | 57,000 | | Total equity | 98,639 | 105,573 | - Total equity as of June 30, 2022, was **HKD 98,639 thousand**, a decrease from **HKD 105,573 thousand** in the same period of 2021[7](index=7&type=chunk) - Profit contribution for the period was **HKD 3,879 thousand**, recognized in retained earnings[7](index=7&type=chunk) [Notes to the Unaudited Condensed Consolidated Financial Statements](index=5&type=section&id=Notes%20to%20the%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) This section details general information, presentation basis, and analyses of key financial statement items [General Information](index=5&type=section&id=General%20Information) Incorporated in Cayman Islands in 2016, listed on GEM in 2017, the company provides environmental cleaning and property management services - The company was incorporated in the Cayman Islands on March 18, 2016, and listed on GEM of the Stock Exchange from April 13, 2017[9](index=9&type=chunk) - Principal business is investment holding, with subsidiaries providing environmental cleaning solutions (including street, building, bus, and ferry cleaning, waste disposal, pest control, etc.) and property management services[9](index=9&type=chunk) - Controlling shareholders are **Mr. Wong Man Shing, Mr. Wong Chong Shing, and Mr. Wong Chi Ho**[9](index=9&type=chunk) [Basis of Presentation](index=5&type=section&id=Basis%20of%20Presentation) Quarterly results are presented in HKD, prepared under HKFRS and GEM Listing Rules, reviewed by Audit Committee, but unaudited - Financial statements are presented in **HKD**, prepared in accordance with **Hong Kong Financial Reporting Standards**, the **Companies Ordinance**, and the **GEM Listing Rules**[10](index=10&type=chunk)[11](index=11&type=chunk) - Prepared using the **historical cost convention**, unaudited by external auditors, but **reviewed by the Audit Committee**[12](index=12&type=chunk)[13](index=13&type=chunk) [Revenue Analysis](index=6&type=section&id=Revenue%20Analysis) Total revenue grew **47.8%** to **HKD 223,331 thousand**, primarily from street cleaning solutions Revenue by Source (For the three months ended June 30) | Revenue Source | 2022 (HKD thousand) | 2021 (HKD thousand) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Street cleaning solutions | 171,913 | 100,583 | 70.9% | | Building cleaning solutions | 24,160 | 20,835 | 15.9% | | Bus and ferry cleaning solutions | 11,250 | 17,753 | -36.6% | | Other cleaning solutions | 13,522 | 9,941 | 36.0% | | Property management services | 2,486 | 1,996 | 24.5% | | **Total Revenue** | **223,331** | **151,108** | **47.8%** | - **Street cleaning solutions revenue** was the primary growth driver, increasing by **70.9% year-on-year**[15](index=15&type=chunk) - **Bus and ferry cleaning solutions revenue** decreased by **36.6% year-on-year**[15](index=15&type=chunk) [Other Income Analysis](index=6&type=section&id=Other%20Income%20Analysis) Other income significantly increased to **HKD 1,188 thousand**, primarily due to government subsidies Other Income by Source (For the three months ended June 30) | Other Income Source | 2022 (HKD thousand) | 2021 (HKD thousand) | | :--- | :--- | :--- | | Government Anti-epidemic Fund subsidy | 920 | – | | Government Employment Support Scheme subsidy | 176 | – | | Disposal of property, plant and equipment | – | 203 | | Bank interest income | 6 | – | | Miscellaneous income | 86 | 5 | | **Total Other Income** | **1,188** | **208** | - Other income increased by **471.2%** from **HKD 208 thousand** in 2021 to **HKD 1,188 thousand** in 2022[16](index=16&type=chunk) - The main growth came from **Government Anti-epidemic Fund subsidy (HKD 920 thousand)** and **Government Employment Support Scheme subsidy (HKD 176 thousand)**[16](index=16&type=chunk) [Finance Costs Analysis](index=7&type=section&id=Finance%20Costs%20Analysis) Finance costs significantly increased by **150.1%** to **HKD 1,164 thousand**, mainly due to higher interest on bank borrowings Finance Costs by Source (For the three months ended June 30) | Finance Cost Source | 2022 (HKD thousand) | 2021 (HKD thousand) | | :--- | :--- | :--- | | Interest on bank overdrafts and borrowings | 665 | 212 | | Interest on lease liabilities | 499 | 253 | | **Total Finance Costs** | **1,164** | **465** | - Finance costs increased by **150.1% year-on-year**, from **HKD 465 thousand** to **HKD 1,164 thousand**[18](index=18&type=chunk) - The primary reason was an **increase in interest expenses on bank overdrafts and borrowings**[18](index=18&type=chunk) [Income Tax Expense Analysis](index=7&type=section&id=Income%20Tax%20Expense%20Analysis) Income tax expense increased **156.6%** to **HKD 1,473 thousand**, mainly due to higher Hong Kong profits tax Income Tax Expense by Type (For the three months ended June 30) | Tax Type | 2022 (HKD thousand) | 2021 (HKD thousand) | | :--- | :--- | :--- | | Hong Kong profits tax | 1,521 | 625 | | Deferred tax | (48) | (51) | | **Total Income Tax Expense** | **1,473** | **574** | - Income tax expense increased by **156.6% year-on-year**, from **HKD 574 thousand** to **HKD 1,473 thousand**[19](index=19&type=chunk) - Hong Kong profits tax applies a **two-tiered tax rate system**, with the first **HKD 2 million** of assessable profits taxed at **8.25%** and the remainder at **16.5%**[21](index=21&type=chunk) [Composition of Profit/(Loss) for the Period](index=8&type=section&id=Composition%20of%20Profit%28%2FLoss%29%20for%20the%20Period) Total staff costs significantly increased by **54.4%** to **HKD 182,695 thousand**, impacting profit, with depreciation also rising Cost Items (For the three months ended June 30) | Cost Item | 2022 (HKD thousand) | 2021 (HKD thousand) | | :--- | :--- | :--- | | Salaries, wages and other benefits | 170,607 | 116,653 | | Contributions to retirement benefit schemes | 5,061 | 3,002 | | Reversal of long service payment | (33) | (1,324) | | Provision for gratuity liabilities | 7,060 | – | | **Total Staff Costs** | **182,695** | **118,331** | | Auditor's remuneration | 180 | 125 | | Depreciation of property, plant and equipment | 220 | 293 | | Depreciation of right-of-use assets | 3,261 | 1,831 | - Total staff costs increased by **54.4% year-on-year**, from **HKD 118,331 thousand** to **HKD 182,695 thousand**[22](index=22&type=chunk) - Depreciation of right-of-use assets increased by **78.1% year-on-year**, from **HKD 1,831 thousand** to **HKD 3,261 thousand**[22](index=22&type=chunk) [Earnings Per Share](index=8&type=section&id=Earnings%20Per%20Share) Basic and diluted EPS decreased slightly to **0.65 HK cents** from **0.68 HK cents**, due to reduced profit Earnings Per Share (For the three months ended June 30) | Indicator | 2022 (HK cents) | 2021 (HK cents) | | :--- | :--- | :--- | | Basic and diluted earnings per share | 0.65 | 0.68 | - Profit attributable to ordinary equity holders used for basic earnings per share calculation was **HKD 3,879 thousand** (2021: **HKD 4,066 thousand**)[23](index=23&type=chunk) - The weighted average number of ordinary shares outstanding was **600,000 thousand shares**, with no potential dilutive ordinary shares[23](index=23&type=chunk) [Management Discussion and Analysis](index=9&type=section&id=Management%20Discussion%20and%20Analysis) This section reviews business performance, future outlook, and key financial metrics [Business Review](index=9&type=section&id=Business%20Review) Group revenue significantly increased due to new street cleaning contracts, enhancing competitiveness through operational efficiency and technology - Revenue significantly increased during the reporting period, mainly due to **multiple street cleaning contracts awarded in late 2021 and May 2022**[25](index=25&type=chunk) - The company strategically enhances operational efficiency, improves asset utilization, and leverages new technologies to **strengthen operations and optimize work performance**[25](index=25&type=chunk) [Cleaning Solution Services](index=9&type=section&id=Cleaning%20Solution%20Services) Cleaning solution services remain the primary business, with revenue growing **48.1%** to **HKD 220,800 thousand**, driven by new government contracts - Cleaning solution services are the Group's primary business, with **over 30 years of experience**[26](index=26&type=chunk) - Revenue from cleaning solution services was approximately **HKD 220,800 thousand** during the reporting period, an increase of **48.1%** compared to the same period in 2021[27](index=27&type=chunk) - Revenue growth was mainly due to securing street cleaning service contracts for **Fanling, Sheung Shui, Southern, Tuen Mun, and Yau Tsim Mong (North) districts**[27](index=27&type=chunk) [Property Management Services](index=9&type=section&id=Property%20Management%20Services) Property management services provide stable but limited revenue, with management seeing synergies and future growth potential - Property management services provide a **stable but limited revenue source** for the Group[28](index=28&type=chunk) - Management believes property management services have **synergistic effects with cleaning solutions** and are expected to become a major revenue source in the future[28](index=28&type=chunk) [Outlook](index=9&type=section&id=Outlook) The company is confident in Hong Kong's economic recovery and environmental cleaning sector, pursuing new opportunities for sustainable growth - The company anticipates Hong Kong's economy is recovering and is **confident in the prospects of the environmental cleaning services industry** in Hong Kong[29](index=29&type=chunk) - Future efforts will focus on securing **more new tenders from other Hong Kong government departments** and expanding to **private clients** to broaden the customer base[31](index=31&type=chunk) - Will utilize financial resources, keep pace with business and technological trends, and formulate new business strategies to **improve performance and service quality**, aiming to **maximize shareholder returns**[31](index=31&type=chunk) [Financial Review](index=10&type=section&id=Financial%20Review) Revenue increased **47.8%**, but net profit decreased **4.6%** due to lower gross margin and higher operating costs [Revenue](index=10&type=section&id=Revenue) Revenue grew **47.8%** to **HKD 223,331 thousand**, primarily from new street cleaning contracts Revenue (For the three months ended June 30) | Indicator | 2022 (HKD thousand) | 2021 (HKD thousand) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 223,331 | 151,108 | 47.8% | - Revenue increase was mainly due to street cleaning contracts awarded in late 2021 and May 2022, contributing **additional revenue of approximately HKD 64,614 thousand**[32](index=32&type=chunk) [Gross Profit and Gross Margin](index=10&type=section&id=Gross%20Profit%20and%20Gross%20Margin) Gross profit increased **25.5%** to **HKD 19,239 thousand**, but gross margin decreased **1.6 percentage points** due to higher staff costs Gross Profit and Gross Margin (For the three months ended June 30) | Indicator | 2022 (HKD thousand) | 2021 (HKD thousand) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Gross profit | 19,239 | 15,331 | 25.5% | | Gross margin | 8.6% | 10.2% | -1.6 percentage points | - Gross margin decline was mainly due to an **increase in staff costs of approximately HKD 64,364 thousand** during the reporting period[33](index=33&type=chunk) [Other Income](index=10&type=section&id=Other%20Income) Other income significantly increased to **HKD 1,188 thousand**, primarily due to government subsidies Other Income (For the three months ended June 30) | Indicator | 2022 (HKD thousand) | 2021 (HKD thousand) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Other income | 1,188 | 208 | 471.2% | - The main growth came from **Government Anti-epidemic Fund subsidy** and **Government Employment Support Scheme subsidy**[34](index=34&type=chunk) [Administrative Expenses](index=10&type=section&id=Administrative%20Expenses) Administrative expenses increased **33.3%** to **HKD 13,911 thousand**, mainly due to higher depreciation and bank charges Administrative Expenses (For the three months ended June 30) | Indicator | 2022 (HKD thousand) | 2021 (HKD thousand) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Administrative expenses | 13,911 | 10,434 | 33.3% | - The increase in administrative expenses was mainly due to **increased depreciation, insurance expenses, and bank charges**[35](index=35&type=chunk) [Finance Costs](index=11&type=section&id=Finance%20Costs) Finance costs significantly increased by **150.1%** to **HKD 1,164 thousand**, due to higher interest on bank borrowings Finance Costs (For the three months ended June 30) | Indicator | 2022 (HKD thousand) | 2021 (HKD thousand) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Finance costs | 1,164 | 465 | 150.1% | - The increase in finance costs was mainly due to **higher interest expenses paid on bank borrowings**[37](index=37&type=chunk) [Net Profit](index=11&type=section&id=Net%20Profit) Net profit attributable to owners decreased **4.6%** to **HKD 3,879 thousand**, affected by lower gross margin and higher expenses Net Profit (For the three months ended June 30) | Indicator | 2022 (HKD thousand) | 2021 (HKD thousand) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Net profit | 3,879 | 4,066 | -4.6% | [Dividends](index=11&type=section&id=Dividends) The Board does not recommend a dividend for the three months ended June 30, 2022, consistent with prior periods - The Board of Directors does not recommend the payment of a dividend for the three months ended June 30, 2022[39](index=39&type=chunk) [Disclosure of Interests](index=11&type=section&id=Disclosure%20of%20Interests) This section details interests and short positions of directors, chief executives, and substantial shareholders in company securities [Directors' and Chief Executive's Interests and Short Positions in Shares, Underlying Shares and Debentures of the Company](index=11&type=section&id=Directors%27%20and%20Chief%20Executive%27s%20Interests%20and%20Short%20Positions%20in%20Shares%2C%20Underlying%20Shares%20and%20Debentures%20of%20the%20Company) Directors Wong Chong Shing, Wong Man Shing, and Wong Chi Ho each held **61.50%** of shares through controlled corporations and acting-in-concert interests Directors' Interests (As of June 30, 2022) | Director | Capacity/Nature | Number of Ordinary Shares | Percentage of Interest | | :--- | :--- | :--- | :--- | | Mr. Wong Chong Shing | Interest in controlled corporation; Acting-in-concert interest | 369,000,000 | 61.50% | | Mr. Wong Man Shing | Interest in controlled corporation; Acting-in-concert interest | 369,000,000 | 61.50% | | Mr. Wong Chi Ho | Interest in controlled corporation; Acting-in-concert interest | 369,000,000 | 61.50% | - **Mr. Wong Chong Shing, Mr. Wong Man Shing, and Mr. Wong Chi Ho** entered into an acting-in-concert agreement on March 30, 2016[43](index=43&type=chunk) - **Mr. Wong Chong Shing** holds **175,500,000 shares** through his wholly-owned company, Man Shing Global Limited, and is deemed to own **193,500,000 shares** due to acting-in-concert[43](index=43&type=chunk) [Substantial Shareholders' Interests and Short Positions in Shares, Underlying Shares and Debentures of the Company](index=13&type=section&id=Substantial%20Shareholders%27%20Interests%20and%20Short%20Positions%20in%20Shares%2C%20Underlying%20Shares%20and%20Debentures%20of%20the%20Company) Man Shing Global Limited and Li Hang Investment Limited each held **29.25%** of shares; spouses were deemed to own **61.50%** Substantial Shareholders' Interests (As of June 30, 2022) | Shareholder Name/Name | Capacity/Nature | Number of Ordinary Shares | Percentage of Interest | | :--- | :--- | :--- | :--- | | Man Shing Global Limited | Beneficial owner | 175,500,000 | 29.25% | | Li Hang Investment Limited | Beneficial owner | 175,500,000 | 29.25% | | Ms. Wong Lai Man | Interest of spouse | 369,000,000 | 61.50% | | Chun Shing Investment Limited | Beneficial owner | 18,000,000 | 3.00% | | Ms. Wan Wing Ting | Interest of spouse | 369,000,000 | 61.50% | - **Man Shing Global Limited** is wholly-owned by Executive Director **Mr. Wong Chong Shing**[47](index=47&type=chunk) - **Ms. Wong Lai Man** is the spouse of **Mr. Wong Man Shing**, and **Ms. Wan Wing Ting** is the spouse of **Mr. Wong Chi Ho**, both are deemed to have interests in the shares held by their respective spouses[47](index=47&type=chunk) [Corporate Governance and Other Information](index=14&type=section&id=Corporate%20Governance%20and%20Other%20Information) This section covers corporate governance practices, including competing interests, securities transactions, code compliance, share options, and board composition [Competing Interests and Conflicts of Interest](index=14&type=section&id=Competing%20Interests%20and%20Conflicts%20of%20Interest) Directors confirm no controlling shareholders, directors, or associates have competing businesses or conflicts of interest - None of the controlling shareholders, directors, or their respective close associates have any business that **directly or indirectly competes with or creates a conflict of interest** with the Group's business[48](index=48&type=chunk) [Purchase, Sale or Redemption of the Company's Listed Securities](index=14&type=section&id=Purchase%2C%20Sale%20or%20Redemption%20of%20the%20Company%27s%20Listed%20Securities) Neither the company nor its subsidiaries purchased, sold, or redeemed any listed securities during the reporting period - Neither the company nor its any subsidiaries purchased, sold, or redeemed any of the company's listed securities during the reporting period[49](index=49&type=chunk) [Compliance with the Corporate Governance Code](index=14&type=section&id=Compliance%20with%20the%20Corporate%20Governance%20Code) The company complied with all applicable Corporate Governance Code provisions, ensuring transparency and protecting shareholder interests - The company has complied with all applicable code provisions of the **Corporate Governance Code** as set out in Appendix 15 to the GEM Listing Rules during the reporting period[50](index=50&type=chunk) - The company is committed to maintaining **high standards of corporate governance practices** to ensure transparency and safeguard shareholders' interests[51](index=51&type=chunk) [Code of Conduct for Securities Transactions by Directors](index=14&type=section&id=Code%20of%20Conduct%20for%20Securities%20Transactions%20by%20Directors) The company adopted GEM Listing Rules standards for directors' securities transactions, with all directors confirming full compliance - The company has adopted the standards set out in **Rules 5.48 to 5.67 of the GEM Listing Rules** as the code of conduct for directors' securities transactions[52](index=52&type=chunk) - All directors have confirmed full compliance with the dealing standards set out in the Code of Conduct during the reporting period and up to the reporting date[52](index=52&type=chunk) [Share Option Scheme](index=14&type=section&id=Share%20Option%20Scheme) The Share Option Scheme, adopted on March 20, 2017, aims to attract and motivate talent, but no options have been granted - The Share Option Scheme was adopted on **March 20, 2017**, to attract, retain, and motivate talented participants[53](index=53&type=chunk) - No share options have been granted under the Share Option Scheme since its adoption and up to June 30, 2022[54](index=54&type=chunk) [Audit Committee](index=15&type=section&id=Audit%20Committee) The Audit Committee, comprising three independent non-executive directors, reviews financial reporting and internal controls - The Audit Committee comprises **three independent non-executive directors**, with **Mr. Au Yeung Tin Wah** as chairman[56](index=56&type=chunk) - The committee assists the Board in fulfilling its responsibilities, providing **independent review of financial reporting** and **monitoring the effectiveness of internal controls**[56](index=56&type=chunk) - These unaudited quarterly financial statements have been **reviewed by the Audit Committee** and are considered to comply with the applicable accounting principles and requirements of the GEM Listing Rules[56](index=56&type=chunk) [Board Composition](index=15&type=section&id=Board%20Composition) The Board comprises three executive directors and three independent non-executive directors - The Board of Directors includes **three executive directors**: Mr. Wong Chong Shing, Mr. Wong Man Shing, and Mr. Wong Chi Ho[57](index=57&type=chunk) - The Board of Directors includes **three independent non-executive directors**: Mr. Li Pak Chung, Mr. Au Yeung Tin Wah, and Mr. Chiu Ka Wai[57](index=57&type=chunk)

香 港 聯 合 交 易 所 有 限 公 司（「聯 交 所」）GEM特 色 GEM乃 為 較 於 聯 交 所 上 市 的 其 他 公 司 帶 有 更 高 投 資 風 險 的 中 小 型 公 司 提 供 上 市 的 市 場。有 意 投 資 者 應 了 解投資有關公司的潛在風險，並應經審慎周詳考慮後方作出投資決定。 由於在GEM上 市 的 公 司 一 般 為 中 小 型 公 司，故 於GEM買賣的證券可能會較於聯交所主板買賣的證券承受 更大的市場波動風險，同時無法保證於GEM買賣的證券會有高流通量的市場。 香港交易及結算所有限公司及聯交所對本報告的內容概不負責，對其準確性或完整性亦不發表任何聲明， 並明確表示概不對因本報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。 本 報 告（萬 成 環 球 控 股 有 限 公 司（「本 公 司」，連 同 其 附 屬 公 司 統 稱「本 集 團」或「萬 成」）董 事（「董 事」）共 同 及 個 別 對 此 負 全 責）乃 遵 照《聯 交 所GEM證 券 上 市 規 則》（「《GEM上 市 規 則》」）的 規 定 而 提 供 有 關 本 公 司 的 資 料 ...