Financial Performance - The group's revenue increased by 42.1% year-on-year, reaching approximately HKD 80.4 million for the security and property management services segment[7]. - Losses narrowed by 58.0% compared to the previous year, indicating improved financial performance[7]. - Revenue from security and property management services in mainland China grew from approximately HKD 46.9 million to about HKD 66.3 million, a year-on-year increase of 39.5%[11]. - Revenue from security and property management services in Hong Kong rose from approximately HKD 8.1 million to about HKD 14.1 million, reflecting a growth of 74.1%[11]. - The total revenue increased by approximately HKD 24,000,000 or 42.3% to about HKD 81,000,000 for the year ended March 31, 2023, compared to approximately HKD 57,000,000 for the same period in 2022[16]. - Revenue from security and property management services reached approximately HKD 80,400,000, an increase of about HKD 25,400,000 or 46.2% from approximately HKD 55,000,000 in the previous year[18]. - The revenue from security and property management services in mainland China rose by approximately HKD 19,400,000 or 41.4% to about HKD 66,300,000, while revenue from Hong Kong increased by approximately HKD 6,000,000 or 74.1% to about HKD 14,100,000[18]. - The gross profit increased by approximately HKD 3,000,000 or 230.8% to about HKD 4,300,000, with an improvement in gross profit margin due to effective cost control measures[24]. - The loss attributable to the owners of the company for this year is approximately HKD 16,300,000, a decrease from HKD 35,500,000 for the year ended March 31, 2022, primarily due to increased gross profit and reduced administrative expenses[33]. Cost Management - Administrative expenses decreased by approximately HKD 3,300,000 or 13.8% to about HKD 20,700,000, primarily due to the recognition of share option expenses[26]. - The total cost of services provided increased from approximately HKD 55,700,000 to HKD 76,700,000, representing 97.7% and 94.7% of total revenue respectively[21]. - The company has reduced its workforce to 1,001 employees, down from 1,347, while improving employee efficiency through effective cost control measures[21]. - The total employee cost for the year is approximately HKD 88,700,000, an increase from HKD 69,800,000 for the year ended March 31, 2022[48]. Strategic Plans and Investments - The company plans to expand its core competitiveness in security, property management, and hotel services in mainland China[7]. - The establishment of an education industry investment fund is planned to focus on the upstream and downstream industry chain of the education sector[7]. - The company aims to transform into a well-known investment holding institution in the industry, enhancing its performance to benefit clients and shareholders[7]. - The asset management team is focused on exploring business and investment opportunities to achieve high-quality development in the coming years[12]. - The company plans to expand its security and property management services in China through the establishment of its own vocational school and industry-education integration bases[14]. - The company aims to provide distressed asset disposal services and one-stop advisory services for enterprises in need, leveraging its asset management market experience[14]. Governance and Compliance - The company emphasizes maintaining high standards of corporate governance to enhance shareholder value and protect stakeholder interests[55]. - The board of directors is responsible for leading and monitoring the company, approving strategic plans, and overseeing performance[59]. - The board consists of seven members, including three executive directors, one non-executive director, and three independent non-executive directors[62]. - The company is committed to regularly reviewing and adjusting its business strategies based on market conditions to ensure long-term sustainable development[58]. - The board consists of six male members and one female member, with a gender diversity goal of achieving gender equality by the end of 2025[63]. - The board has established measurable targets to implement its diversity policy and will review these targets periodically to ensure their appropriateness[63]. - The company has adopted a dividend policy that allows the board to decide on dividend payments, subject to compliance with applicable laws and regulations[66]. - The board is responsible for reviewing and reassessing the effectiveness of the dividend policy regularly[67]. - The company has appointed at least three independent non-executive directors, constituting at least one-third of the board[70]. - The independent non-executive directors have confirmed their independence annually as per GEM listing rules[70]. - The board is responsible for determining appropriate corporate governance practices and ensuring the establishment of processes to achieve governance objectives[75]. - The company provides training for new directors to ensure they understand their responsibilities under GEM listing rules and relevant regulations[72]. - The company has a code of conduct and compliance manual applicable to employees and directors, which is regularly reviewed[77]. Risk Management - The audit committee reviews the effectiveness of the group's risk management and internal control systems at least annually, covering all significant controls[97]. - The group has not established a separate internal audit department but employs independent consultants to conduct systematic reviews of various systems based on risk assessments[98]. - The board believes that the existing organizational structure and close supervision by management are sufficient for maintaining adequate risk management and internal control[98]. - The group faces risks related to high employee turnover in labor-intensive sectors, particularly in security and property management services[138]. - The management is closely monitoring employee turnover rates and considering incentive plans to attract and retain talent[138]. Shareholder Relations - The company encourages shareholders to attend annual general meetings and has implemented a shareholder communication policy to provide timely and comprehensive information[101]. - The 2023 Annual General Meeting is scheduled for September 8, 2023, with notifications sent to shareholders in accordance with relevant regulations[102]. - Shareholders can request a special general meeting if they hold at least 10% of the paid-up capital entitled to vote at the general meeting[103]. - The company ensures timely, fair, accurate, and complete disclosure of information to facilitate informed decision-making by shareholders and the public[108]. Environmental and Social Responsibility - The company is committed to improving environmental sustainability and will publish its environmental, social, and governance report alongside the annual report[127]. - The group made charitable donations of approximately HKD 120,550 during the year, compared to none in 2022[140]. - There are no significant lawsuits or claims against the company as of the report date[128]. - The company has complied with all relevant laws and regulations without any serious violations during the year[130]. Capital Structure and Share Options - The total number of shares available for issuance under the share option plan is 58,144,224 shares, accounting for approximately 10% of the issued share capital as of the report date[165]. - The maximum allocation for any participant in a 12-month period cannot exceed 1% of the company's issued share capital[166]. - The exercise price for options is determined by the board and cannot be lower than the highest of the closing price on the grant date or the average closing price over the five trading days preceding the grant date[170]. - The fair value of options granted on October 11, 2021, was based on a share price of HKD 0.201, with an exercise price of HKD 0.2242 and an expected volatility of 107%[174]. - The total unexercised options as of March 31, 2022, amounted to 45,883,329 shares[172]. - The share option plan was adopted on July 31, 2014, and is valid for ten years from the adoption date[170]. - The company aims to use the share option plan to reward contributions and attract talent[165]. - As of March 31, 2023, the company had 45,883,329 unexercised stock options, representing approximately 7.89% of the issued shares[178]. - The weighted average exercise price of the unexercised stock options as of March 31, 2023, was HKD 0.411, with a remaining average contract term of 4.17 years[177]. - The total potential increase in share capital from the exercise of all unexercised stock options would be HKD 2,294,166, generating a share premium of HKD 16,584,055 before issuance expenses[178]. - No stock options were exercised after the reporting period, maintaining the number of unexercised options at 45,883,329[179]. - The company did not purchase, sell, or redeem any of its listed securities during the year[181]. - The company’s capital structure remains unchanged, with no new shares issued outside of the stock option plan[178]. Major Shareholders and Customer Relations - Major shareholders include Walle Holding Limited with 249,090,909 shares, representing 42.84% of the total issued shares, and Changcheng Huiri Holdings Limited with 184,465,046 shares, representing 31.73%[189]. - The top five customers accounted for approximately 65.0% of total revenue, down from 78.7% in the previous year, with the largest customer contributing about 18.1%[192]. - The top five suppliers represented about 9.3% of total service costs, a decrease from 17.4% in the previous year, with the largest supplier accounting for approximately 2.9%[192].

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」）對本公佈的 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 公佈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。 GREATWALLE INC. （股份代號：8315） （於開曼群島註冊成立的有限公司） 長城匯理公司 截至二零二三年三月三十一日止年度的年度業績公佈 聯交所GEM的特色 GEM 的定位，乃為中小型公司提供一個上市的市場，此等公司相比起其他在聯交 所上市的公司帶有較高投資風險。有意投資的人士應了解投資於該等公司的潛在 風險，並應經過審慎周詳的考慮後方作出投資決定。 由於GEM 上市公司普遍為中小型公司，在GEM 買賣的證券可能會較於主板買賣 之證券承受較大的市場波動風險，同時無法保證在GEM買賣的證券會有高流通量 的市場。 本公佈的資料乃遵照聯交所GEM 證券上市規則（「GEM 上市規則」）而刊載，旨在 提供有關本公司的資料。董事願就本公佈的資料共同及個別承擔全部責任。各董 事在作出一切合理查詢後，確認就其所知及所信，本公佈所載資料在各重要方面 均屬準確完備，沒有誤導或欺詐成分，且並無遺漏任 ...

Financial Performance - Revenue for the three months ended December 31, 2022, was HKD 16,967,000, representing a 39.0% increase from HKD 12,150,000 in the same period last year[4] - Gross profit for the nine months ended December 31, 2022, was HKD 4,071,000, compared to HKD 611,000 for the same period last year, indicating a significant improvement[4] - The company reported a loss before tax of HKD 9,285,000 for the nine months ended December 31, 2022, a reduction from a loss of HKD 21,283,000 in the previous year[4] - Total comprehensive loss for the nine months ended December 31, 2022, was HKD 14,509,000, compared to HKD 18,903,000 for the same period last year[4] - Basic and diluted loss per share for the nine months ended December 31, 2022, was HKD 1.56, compared to HKD 4.33 in the same period last year[4] - The company reported a loss attributable to shareholders of approximately HKD 9,045,000 for the nine months ended December 31, 2022, compared to a loss of approximately HKD 20,588,000 for the same period in 2021[21] - Loss before tax for the nine months ended December 31, 2022, was HKD 66,401,000, compared to HKD 50,072,000 for the same period in 2021, reflecting an increase in operational costs[16] - Loss attributable to owners of the company decreased by HKD 11,600,000 or 56.3%, from approximately HKD 20,600,000 to about HKD 9,000,000[41] Revenue Breakdown - Revenue from security and property management services for the nine months ended December 31, 2022, was HKD 60,734,000, an increase of 60.6% compared to HKD 37,808,000 for the same period in 2021[11] - Revenue from asset management services for the nine months ended December 31, 2022, was HKD 465,000, a decrease of 74.9% compared to HKD 1,781,000 for the same period in 2021[11] - Total revenue for the nine months ended December 31, 2022, was HKD 61,199,000, up 54.7% from HKD 39,589,000 in the same period of 2021[11] - Revenue from security and property management services reached approximately HKD 60,700,000, up about HKD 22,900,000 or 60.6% from approximately HKD 37,800,000 in the previous year[33] - Revenue from security and property management services in mainland China increased by approximately HKD 16,300,000 or 51.4% to about HKD 48,000,000[33] - Revenue from security and property management services in Hong Kong increased to approximately HKD 12,700,000, up about HKD 6,600,000 or 108.2% from the previous year[33] - Total revenue from asset management services was approximately HKD 500,000, a decrease of about HKD 1,300,000 compared to approximately HKD 1,800,000 for the nine months ended December 31, 2021[34] Expenses and Financials - Financial expenses for the nine months ended December 31, 2022, totaled HKD 2,266,000, a slight decrease of 2.9% from HKD 2,334,000 in the same period of 2021[14] - Administrative expenses decreased by approximately HKD 4,600,000 or 23.2% to about HKD 15,200,000, primarily due to reductions in legal and professional fees[39] - Financial expenses remained stable at approximately HKD 2,300,000 for both periods[40] - The cost of services provided increased to approximately HKD 57,100,000 from HKD 39,000,000, representing 94.1% and 103.2% of the revenue from security and property management services respectively[35] Government Support and Other Income - Other income for the nine months ended December 31, 2022, was HKD 4,149,000, significantly higher than HKD 217,000 for the same period in 2021, driven by government subsidies and property sales[13] - The company received government subsidies amounting to HKD 1,867,000 for the nine months ended December 31, 2022, compared to HKD 136,000 in the same period of 2021[13] - Other income included a one-time government subsidy of approximately HKD 1,900,000 and a one-time gain from modifying bill acceptance terms of approximately HKD 1,200,000[38] Shareholder Information - Major shareholders include Walle Holding Limited with 249,090,909 shares, representing 42.84% of the company[49] - Changcheng Holdings Limited holds 184,465,046 shares, accounting for 31.73% of the company[49] - The company is controlled by a series of entities, with significant ownership concentrated among a few major shareholders[50] - The company has no significant new product launches or market expansion strategies disclosed in the report[36] Corporate Governance - The company has complied with the corporate governance code as per GEM Listing Rules Appendix 15, except for deviation from C.2.1 regarding the separation of roles between the chairman and CEO[57] - The audit committee, consisting of independent non-executive directors, has reviewed the accounting principles and practices adopted by the group for the third quarter performance announcement[58] Future Strategies - The company continues to focus on expanding its security and property management services, as well as asset management services[7] - Future strategies include enhancing operational efficiency and exploring potential market expansion opportunities[7] - The overall industry and business environment remain challenging, with uncertainties arising from policy changes in China[30] Dividend and Share Options - The board did not recommend the payment of an interim dividend for the nine months ended December 31, 2022[22] - The company did not recommend an interim dividend for the reporting period[55] - No share options were granted, exercised, cancelled, or lapsed during the reporting period[53] - The total number of share options outstanding as of the reporting date is 45,883,329[52] - The exercise price for share options ranges from HKD 0.089 to HKD 0.234[52]

Financial Performance - Revenue for the six months ended September 30, 2022, was HKD 44,232,000, an increase of 60.7% compared to HKD 27,439,000 for the same period in 2021[7] - Gross profit for the six months ended September 30, 2022, was HKD 3,099,000, compared to a gross loss of HKD 23,000 in the same period of 2021[7] - The company reported a loss before tax of HKD 4,887,000 for the six months ended September 30, 2022, a significant improvement from a loss of HKD 13,794,000 in the prior year[7] - Total comprehensive loss for the six months ended September 30, 2022, was HKD 11,348,000, compared to HKD 12,408,000 for the same period in 2021[7] - The total operating loss for the group decreased to HKD 4,890,000 from HKD 13,782,000, reflecting an improvement of 64.5%[17] - The total comprehensive loss for the period was HKD 11,228,000, compared to HKD 12,408,000 in the previous year, showing a reduction of 9.5%[9] - The company reported a foreign exchange gain of HKD 1,377,000 during the period, contributing positively to the overall financial results[9] - The company reported a loss attributable to owners of the company of HKD 176,000 for the three months ended September 30, 2022, a significant improvement compared to a loss of HKD 8,147,000 in the same period of 2021[36] - The company's loss attributable to owners decreased by HKD 8,400,000 or 63.6%, from approximately HKD 13,200,000 for the six months ended September 30, 2021, to approximately HKD 4,800,000 for the current period[77] Revenue Breakdown - Total revenue from external customers for the security and property management segment increased to HKD 43,903,000, up from HKD 26,137,000 in the previous year, representing a growth of 67.9%[17] - Security and property management services generated revenue of HKD 43,903,000 for the six months ended September 30, 2022, compared to HKD 26,137,000 in 2021, reflecting a growth of 67.9%[28] - Revenue from security and property management services reached approximately HKD 43,900,000, an increase of about 68.2% compared to approximately HKD 26,100,000 for the same period last year[68] - Revenue from asset management services decreased by approximately 76.9% from about HKD 1,300,000 to approximately HKD 300,000 due to the completion of a related party transaction[64] - Revenue from security and property management services in mainland China grew by approximately 53.9% to about HKD 33,700,000, up from approximately HKD 21,900,000[68] - Revenue from security and property management services in Hong Kong increased by approximately 142.9% to about HKD 10,200,000, up from approximately HKD 4,200,000[68] Assets and Liabilities - Current assets decreased to HKD 69,980,000 as of September 30, 2022, from HKD 82,388,000 as of March 31, 2022[8] - The company's total liabilities increased to HKD 56,784,000 as of September 30, 2022, compared to HKD 55,517,000 as of March 31, 2022[8] - Total assets decreased to HKD 87,611,000 as of September 30, 2022, from HKD 101,127,000 as of March 31, 2022[22] - Total liabilities increased to HKD 68,024,000 as of September 30, 2022, compared to HKD 70,192,000 as of March 31, 2022[22] - The company’s equity attributable to owners decreased to HKD 22,535,000 as of September 30, 2022, from HKD 33,763,000 as of March 31, 2022[8] Cash Flow and Expenditures - The company’s cash and cash equivalents decreased to HKD 50,850,000 as of September 30, 2022, from HKD 69,987,000 as of March 31, 2022[8] - Cash and cash equivalents at the end of the period were HKD 50,850,000, down from HKD 74,441,000, a decrease of 31.7%[11] - The net cash used in operating activities was HKD (5,745,000), slightly improved from HKD (6,044,000) in the previous year[11] - The financing activities resulted in a net cash outflow of HKD (5,357,000), which was higher than the outflow of HKD (4,951,000) in the previous year[11] - The company reported a capital expenditure of HKD 639,000 for the six months ended September 30, 2022, significantly lower than HKD 21,583,000 in the same period of 2021[28] - Capital expenditure for the six months ended September 30, 2022, was approximately HKD 600,000, primarily for the acquisition of rights to leased land and buildings[82] Employee and Operational Metrics - The total employee benefits expenses, including director remuneration, amounted to HKD 25,264,000 for the three months ended September 30, 2022, up 61.0% from HKD 15,696,000 in the same period of 2021[32] - The company incurred employee benefit costs of approximately HKD 47,000,000 during the reporting period, compared to approximately HKD 33,300,000 for the six months ended September 30, 2021[87] - The company had 1,196 employees as of September 30, 2022, down from 1,347 employees as of March 31, 2022[87] Shareholder and Ownership Structure - As of September 30, 2022, the major shareholder, Walle Holding Limited, holds 249,090,909 shares, representing 42.84% of the total issued shares[99] - Longcheng Holdings Limited holds 184,465,046 shares, accounting for 31.73% of the total issued shares[99] - The beneficial ownership structure indicates that Song Xiaoming controls approximately 74.57% of the company's shares through various entities[94] - The total number of shares held by Song Xiaoming through various entities amounts to 433,555,955 shares, representing 74.57% of the company[93] - The company’s total issued shares as of September 30, 2022, were 581,442,248, following a share consolidation[48] Corporate Governance and Compliance - The audit committee has reviewed the financial results for the six months ended September 30, 2022, and confirmed compliance with applicable accounting standards and GEM listing rules[114] - The company has adopted written guidelines for securities transactions by directors, ensuring compliance with GEM listing rules[111] - The company has adhered to the corporate governance code, with a noted exception regarding the separation of roles between the chairman and CEO[112] - There are no interests held by directors or major shareholders in competing businesses that would require disclosure under GEM listing rules[116] Dividends and Recommendations - The company did not recommend the payment of an interim dividend for the six months ended September 30, 2022, consistent with the same period in 2021[38] - The board of directors did not recommend the payment of an interim dividend for the six months ended September 30, 2022, consistent with the previous year[109]

Financial Performance - Revenue for the three months ended June 30, 2022, was HKD 19,832,000, an increase of 33.3% compared to HKD 14,854,000 for the same period in 2021[4] - Gross profit for the same period was HKD 1,082,000, up from HKD 265,000, reflecting a significant improvement in profitability[4] - The loss before tax for the three months ended June 30, 2022, was HKD 4,735,000, a decrease in loss compared to HKD 5,359,000 in the prior year[4] - Total comprehensive loss for the period was HKD 7,934,000, compared to HKD 4,147,000 in the same period last year, primarily due to foreign exchange losses[4] - The company reported a basic and diluted loss per share of HKD 0.8, an improvement from HKD 1.45 in the previous year[4] - Total revenue for the three months ended June 30, 2022, was approximately HKD 19,800,000, an increase from approximately HKD 14,100,000 for the same period in 2021[21] - The company reported a loss attributable to shareholders of HKD 4,636,000 for the three months ended June 30, 2022, compared to a loss of HKD 5,081,000 for the same period in 2021[18] Revenue Breakdown - Revenue from security and property management services was HKD 19,659,000, an increase of 38.0% from HKD 14,150,000 in the prior year[11] - Revenue from asset management services decreased to HKD 173,000 from HKD 704,000, indicating a decline in this segment[11] - Revenue from security and property management services increased by approximately HKD 5,500,000 to about HKD 19,600,000 compared to the same period last year[22] - In mainland China, revenue from security and property management services grew from approximately HKD 11,900,000 to about HKD 15,000,000, reflecting a continuous increase of approximately HKD 3,100,000[22] - In Hong Kong, revenue from security and property management services rose from approximately HKD 2,200,000 to about HKD 4,600,000 during the same period[23] - Revenue from security and property management services rose by approximately HKD 5,500,000 or about 39% from approximately HKD 14,100,000 to about HKD 19,600,000 during the same period[30] Expenses and Losses - Administrative expenses increased to HKD 5,662,000 from HKD 4,978,000, reflecting higher operational costs[4] - The company experienced a foreign exchange loss of HKD 3,198,000 during the period, compared to a gain of HKD 1,199,000 in the previous year[4] - Total financial expenses for the three months ended June 30, 2022, amounted to HKD 776,000, compared to HKD 742,000 for the same period in 2021[14] - The cost of services provided for the three months ended June 30, 2022, was HKD 18,750,000, an increase from HKD 14,589,000 in the previous year[16] - Administrative expenses rose by approximately HKD 700,000 or 14% from about HKD 5,000,000 to approximately HKD 5,700,000, mainly due to increased depreciation of right-of-use assets[36] - Financial expenses increased by approximately HKD 34,000 or 4.6% from about HKD 742,000 to approximately HKD 776,000, primarily due to higher financial costs related to leased office properties[37] Government Support and Employment - The company received government subsidies of HKD 614,000 under the Employment Support Scheme to support employee wage burdens[3] - The company has committed to using the Employment Support Scheme subsidies to pay wages and maintain employee numbers at specified levels[3] - The total number of employees increased to 1,233, with 1,207 being full-time and part-time security personnel, reflecting business expansion in Dongying City, Shandong Province, China[33] Corporate Governance and Shareholding - The company has disclosed all relevant interests and holdings in compliance with the Securities and Futures Ordinance[43] - The beneficial ownership structure indicates that Mr. Song and related entities collectively own a significant portion of the company's shares[46] - The company has no other major shareholders or individuals with disclosed interests in its shares as of June 30, 2022, apart from those mentioned[45] - The total shares held by Mr. Song and his controlled entities reflect a strong influence over the company's governance and strategic decisions[44] - The company has a controlled entity, Nansha Huiming, which holds 184,465,046 shares, representing 31.73% of the total issued shares[45] - The beneficial ownership of shares by Changcheng Wealth Management Holdings Limited is confirmed to be 184,465,046 shares[46] Management Changes - Mr. Lu Xingyuan has resigned as an executive director, and Mr. Su Congyue has been appointed as an executive director effective July 22, 2022[59] - As of the report date, the executive directors are Mr. Song Xiaoming, Ms. Song Shiqing, and Mr. Su Congyue[59] - The non-executive director is Mr. Zhong Wenli, and the independent non-executive directors are Mr. Li Zhongfei, Mr. Zhao Jinsong, and Mr. Liu Chengwei[59] - The announcement regarding the changes in executive directors was made on July 22, 2022[59] Compliance and Audit - The audit committee reviewed the financial reporting process and internal control procedures for the three months ended June 30, 2022[55] - The audit committee consists of independent non-executive directors, ensuring oversight of financial reporting[53] - The company maintained compliance with the corporate governance code, except for the separation of the roles of chairman and CEO[52] - The company has adopted written guidelines for securities transactions by directors, confirming compliance during the reporting period[51] Dividends and Stock Options - The company did not recommend the payment of dividends for the three months ended June 30, 2022, consistent with the previous year[18] - No stock options were granted, exercised, canceled, or expired during the three months ended June 30, 2022[48] - A total of 45,883,329 stock options were outstanding as of June 30, 2022, with various exercise prices[54] - The company did not purchase, sell, or redeem any of its listed securities during the three months ended June 30, 2022[49] - No preferential rights are stipulated in the company's articles of association regarding the issuance of new shares[56]

Financial Performance - Total revenue for the fiscal year ending March 31, 2022, decreased by approximately HKD 5,100,000 or 8.2% to about HKD 56,900,000 from approximately HKD 62,000,000 in the previous year[21]. - Revenue from security and property management services in Hong Kong dropped significantly by approximately HKD 13,700,000 or 62.8% to about HKD 8,100,000, primarily due to the ongoing impact of the COVID-19 pandemic[24]. - The asset management services total revenue for the year was approximately HKD 2,000,000, a decrease of about HKD 500,000 or 20% compared to HKD 2,500,000 in the previous year[25]. - The group's gross profit decreased by approximately 4,200,000 HKD or 76.4% to about 1,300,000 HKD for the year ended March 31, 2022, primarily due to increased security costs and adverse impacts from the COVID-19 pandemic[30]. - Other income for the year was approximately 1,800,000 HKD, a decrease from about 7,100,000 HKD in the previous year, mainly due to the absence of one-time government grants and other income sources[31]. - The loss attributable to the company's owners for the year was approximately 35,500,000 HKD, an increase from 17,000,000 HKD in the previous year, driven by reduced gross profit and increased impairment losses[40]. Expenditures and Cost Management - Total expenditures decreased by 6% compared to the previous year, reflecting the company's prudent spending policy[8]. - The cost of services provided for the fiscal year was approximately HKD 55,700,000, accounting for about 97.8% of total revenue[27]. - Administrative expenses decreased by approximately 1,600,000 HKD or 6.3% to about 24,000,000 HKD, primarily due to reduced legal and professional fees[32]. - Financial expenses increased by approximately 800,000 HKD or 34.8% to about 3,100,000 HKD, mainly due to interest payments and increased leasing costs[39]. Business Strategy and Growth - The company plans to enhance its core competitiveness by establishing vocational schools and industry-education integration bases in mainland China[8]. - The company aims to expand its scale of fund issuance to strengthen its core competitiveness in the asset management sector[8]. - The company is actively identifying potential acquisition targets to further its growth strategy[8]. - The company plans to expand its security and property management services in China by establishing its own vocational schools and industry-education integration bases[19]. - The company aims to leverage its asset management brand to establish investment funds that connect the upstream and downstream of the education industry chain[19]. Impact of COVID-19 - The ongoing COVID-19 pandemic has posed unprecedented challenges to the economy in Hong Kong and mainland China, affecting the company's operations[8]. - The company anticipates that the economy will gradually recover in the fiscal year 2023 as the COVID-19 situation improves and regulations in Hong Kong and China evolve[19]. - Due to the impact of the COVID-19 pandemic in China, the company has adjusted the pace of using the proceeds from previous fundraising efforts[61]. - The company faces external uncertainties, particularly related to the Chinese economy and COVID-19 lockdown measures, which may significantly impact performance[139]. Shareholder and Board Information - The board consists of a chairman and six members, including three executive directors, one non-executive director, and three independent non-executive directors[70]. - The company has established a nomination policy to identify qualified individuals for board membership, ensuring a diverse skill set and experience[71]. - The board held a total of four meetings during the year, with all directors actively participating[84]. - The company has adopted a dividend policy that considers financial performance, cash flow, and market conditions when deciding on dividend payments[72]. - The company did not recommend a final dividend for the year, consistent with the previous year[42]. Risk Management and Compliance - The company has a comprehensive risk management strategy in place to monitor and manage identified risks effectively[138]. - The board is responsible for continuously monitoring the effectiveness of the group's risk management and internal control systems[102]. - The company ensures compliance with legal and regulatory requirements through regular reviews of governance policies and practices[83]. - The audit committee reviews the overall effectiveness of the internal control and risk management framework[90]. Employee and Operational Information - The number of employees increased to 1,347 as of March 31, 2022, from 514 in the previous year, with 1,203 being full-time and part-time security personnel[27]. - The company has maintained good relationships with employees, offering competitive salaries and bonuses based on qualifications and tenure[134]. - The company has a structured annual review mechanism to assess employee performance, which informs decisions on salary increases and promotions[134]. - The company has implemented measures to manage the risk of employee turnover in labor-intensive sectors, particularly in security and property management[141]. Capital and Financing Activities - The total capital expenditure for the year ending March 31, 2022, was approximately HKD 22,172,000, primarily for acquiring land and building usage rights, compared to HKD 1,639,000 for the previous year[47]. - The net proceeds from the subscription matters amounted to HKD 67,500,000, with all funds expected to be utilized by March 31, 2023[61]. - The company issued a total of 581,442,248 ordinary shares with a par value of HKD 0.01 as of March 31, 2022[144]. - The company plans to utilize the proceeds from the subscription for business expansion and potential acquisitions, considering it the most feasible method for preparing capital for business growth[169]. Environmental and Social Responsibility - The company is aware of the importance of environmental protection for sustainable development and is committed to improving its environmental performance[131]. - The company reported no charitable donations during the year[142].

Financial Performance - Revenue for the three months ended December 31, 2021, was HKD 12,150,000, a decrease of 14.4% compared to HKD 14,188,000 for the same period in 2020[3] - Gross profit for the nine months ended December 31, 2021, was HKD 611,000, down 87.4% from HKD 4,838,000 in the previous year[3] - The company reported a loss before tax of HKD 21,283,000 for the nine months ended December 31, 2021, compared to a loss of HKD 14,944,000 for the same period in 2020, representing a 42.5% increase in losses[3] - Total comprehensive loss for the nine months ended December 31, 2021, was HKD 18,903,000, compared to HKD 14,448,000 in the previous year, indicating a 30.4% increase in total losses[3] - Basic and diluted loss per share for the nine months ended December 31, 2021, was HKD 4.41, compared to HKD 4.89 for the same period in 2020, showing a slight decrease in loss per share[3] - Total revenue for the nine months ended December 31, 2021, was HKD 39,589,000, down 10.2% from HKD 44,143,000 in the same period of 2020[9] - The company's loss attributable to shareholders increased by approximately HKD 6,713,000, from HKD 13,875,000 for the nine months ended December 31, 2020, to approximately HKD 20,588,000 for the reporting period[49] Expenses and Costs - Administrative expenses for the nine months ended December 31, 2021, were HKD 19,777,000, down 12.5% from HKD 22,685,000 in the previous year[3] - Financial expenses for the nine months ended December 31, 2021, totaled HKD 2,334,000, slightly higher than HKD 2,193,000 in 2020[11] - The company reported a decrease in the cost of services provided for the nine months ended December 31, 2021, amounting to HKD 38,978,000, compared to HKD 39,305,000 in 2020[13] - Other income fell by approximately HKD 4.88 million or 95.7%, from HKD 5.1 million to HKD 0.22 million, mainly due to a reduction in government subsidies and the absence of income from modified acceptance bill terms[46] - Administrative expenses decreased by approximately HKD 2.91 million or 12.8%, from HKD 22.69 million to HKD 19.78 million, attributed to more effective cost control in asset management and reductions in various expenses[47] - Financial expenses increased by approximately HKD 0.14 million or 6.4%, from HKD 2.19 million to HKD 2.33 million, primarily due to increased borrowing interest expenses[48] Equity and Capital - The company’s total equity as of December 31, 2021, was HKD 48,682,000, compared to a negative equity of HKD 7,203,000 at the beginning of the fiscal year[4] - The company raised HKD 19,836,000 through a rights issue during the period, enhancing its capital position[4] - The company raised approximately HKD 68.5 million through a subscription agreement, with a net amount of about HKD 67.5 million after expenses, at a subscription price of HKD 0.275 per share, representing a discount of approximately 6.78% from the theoretical closing price[34] Business Operations - The company’s main business includes providing security and property management services, as well as business consulting and asset management services[6] - Revenue from security and property management services for the three months ended December 31, 2021, was HKD 11,671,000, a decrease of 12.8% compared to HKD 13,390,000 in 2020[9] - The company achieved revenue of approximately HKD 39,589,000 for the nine months ended December 31, 2021, with security and property management services contributing about HKD 37,808,000 and asset management services contributing HKD 1,781,000[24] - The company established Shandong Guanhui Jiyie Commercial Management Co., Ltd. in Shandong Province to expand its security and property management services, focusing on large schools and industrial parks[25] - The company plans to continue expanding its security and property management business in mainland China, aiming to become a well-known institution in the industry[25] - The company is actively exploring business and investment opportunities in both the Chinese and Hong Kong markets, confident in the potential for growth[26] Government Subsidies - Other income for the three months ended December 31, 2021, was HKD 91,000, significantly higher than HKD 17,000 in 2020, primarily due to government subsidies[10] - The company received government subsidies of HKD 136,000 for the nine months ended December 31, 2021, down from HKD 1,653,000 in the same period of 2020[10] - The company has committed to using government subsidies to support employee wages under the "Employment Support Scheme" and must maintain employee levels as per the scheme's requirements[10] Shareholder Information - Major shareholders include Changcheng Holdings Limited, which holds 184,465,046 shares, representing approximately 31.73% of the total issued shares[55] - Walle Holding Limited, fully owned by Mr. Song, holds 249,090,909 shares, accounting for approximately 42.84% of the total issued shares[55] - Mr. Song controls approximately 74.57% of the company's shares through various entities[50] - The company's major shareholders include Guangzhou Nansha District Huiming Investment Business Co., Ltd., which is fully owned by Changcheng Holdings Limited[56] - The ownership structure indicates a significant concentration of control among a few major shareholders[56] Corporate Governance - The company has established an audit committee to review and supervise the financial reporting process and internal control procedures, consisting of independent non-executive directors[65] - The company has complied with the corporate governance code, except for the separation of roles between the chairman and the CEO, which has not been appointed since the resignation of the CEO on August 25, 2020[64] - The company has confirmed compliance with trading regulations by all directors during the reporting period[63] - There were no interests held by directors or controlling shareholders in any competing businesses during the reporting period[67] Stock Options - The company has a stock option plan adopted on July 31, 2014, which has granted stock options to its employees[51] - The company granted 33,235,133 stock options on October 11, 2021, under its stock option plan adopted on July 31, 2014[57] - The fair value of the stock options granted on October 11, 2021, was estimated at approximately HKD 2,390,000, calculated using a binomial option pricing model[59] - The exercise price of the stock options granted was HKD 0.2242, with the closing price on the grant date being HKD 0.201[59] - The total number of stock options outstanding as of December 31, 2021, was 138,218,179, with 33,235,133 options granted during the period[57] - The stock options will be transferred to retained earnings if they are forfeited or expire before the vesting period[60] - The stock options granted are expected to impact the equity reserve during the relevant vesting period[59] Future Outlook - The asset management services are expected to enter a high-quality development phase within the next one to two years, with a focus on controlling mergers and long-term investments in leading companies in niche sectors[26] - A strategic cooperation agreement was signed for the construction of vocational colleges, with a total investment of approximately USD 500 million and plans to enroll 20,000 students over five years[39] - The company aims to leverage its asset management platform to establish an education industry investment fund, enhancing its core competitiveness in asset management services[40] - The report does not provide specific guidance on future performance or new product developments[54]

中期報告 2021/22 香港聯合交易所有限公司（「聯交所」）GEM的特色 本報告載有根據聯交所GEM證券上市規則（「GEM上市規則」）規定須提供有關長城匯理公司（「本公司」， 連同其附屬公司統稱為「本集團」）資料的詳情，本公司董事（「董事」）就本報告共同及個別承擔全部責 任。董事在作出一切合理查詢後確認，就彼等所知及所信，本報告所載的資料在各重大方面乃準確完 整，無誤導或欺詐成份，且概無遺漏任何其他事宜致使本報告所載任何陳述或本報告產生誤導。 目錄 | 公司資料 | 2 | | --- | --- | | 未經審核簡明綜合損益及其他全面收益表 | 3 | | 未經審核簡明綜合財務狀況表 | 4 | | 未經審核簡明綜合權益變動表 | 5 | | 未經審核簡明綜合現金流量表 | 6 | | 未經審核簡明綜合中期財務資料附註 | 7 | | 管理層討論與分析 | 18 | | 企業管治及其他資料 | 28 | 1 長城匯理公司 • 二零二一╱二二年中期報告 公司資料 董事會 執行董事： 宋曉明先生 （主席） 宋詩情女士 林淑嫻女士 GEM的定位，乃為中小型公司提供一個上市的市場，此等公司相比起其他在主板上市的公 ...

Financial Performance - Revenue for the three months ended June 30, 2021, was HKD 14,854,000, a decrease of 19.0% compared to HKD 18,474,000 for the same period in 2020[3] - Gross profit for the same period was HKD 265,000, down 89.8% from HKD 2,607,000 in 2020[3] - The loss before tax for the period was HKD 5,359,000, compared to a loss of HKD 4,287,000 in the previous year, representing a 25.0% increase in losses[3] - Total comprehensive loss for the period was HKD 4,147,000, slightly improved from HKD 4,284,000 in the same period last year[3] - The basic and diluted loss per share for the period was HKD 0.31, unchanged from the previous year[3] - The company reported a foreign exchange gain of HKD 1,199,000 for the period, compared to a gain of HKD 30,000 in the previous year[3] - Revenue from security and property management services was HKD 14,150,000, down from HKD 18,079,000 in 2020, indicating a decrease of 22%[8] - Revenue from asset management and consulting services increased to HKD 704,000 from HKD 395,000, reflecting an increase of 78%[8] - The company reported a loss before tax of HKD 5,081,000 for the three months ended June 30, 2021, compared to a loss of HKD 3,832,000 in the same period of 2020[15] - Basic and diluted loss per share for the period was HKD 0.00305, compared to HKD 0.00307 in the previous year[15] Expenses and Costs - Administrative expenses decreased to HKD 4,978,000 from HKD 6,407,000, a reduction of 22.2%[3] - Financial costs increased to HKD 742,000 from HKD 618,000, an increase of 20.1%[3] - Interest income from bank deposits decreased to HKD 3,000 from HKD 9,000, a decline of 67%[10] - Total financial expenses increased to HKD 742,000 from HKD 618,000, representing a rise of 20%[10] - The gross profit decreased from approximately HKD 2,607,000 to approximately HKD 265,000, a reduction of about 89.8% due to rising security costs and the adverse impact of the pandemic[28] - Administrative expenses decreased from approximately HKD 6,407,000 to approximately HKD 4,978,000, a reduction of about 22.3%, attributed to more effective cost control in asset management[29] - Financial expenses increased from approximately HKD 618,000 to approximately HKD 742,000, an increase of about 20.1%, primarily due to higher borrowing interest expenses[30] Shareholder Information - As of June 30, 2021, the company has a total of 922,325,231 shares held by Changcheng Huiri Holdings Limited, representing 55.50% of the issued shares[38] - The beneficial ownership of shares by major shareholders includes Guangzhou Nansha District Huiming Investment Business Co., Ltd., which also holds 922,325,231 shares, equating to 55.50%[38] - The company’s shares are controlled by a series of entities, with Nansha Huiming being wholly owned by Changcheng Huiri Holdings, which is ultimately controlled by Song Xiaoming[38] - The beneficial ownership structure indicates that Song Xiaoming has a direct control of approximately 68.90% and indirect control of about 22.00% through a wholly-owned company[35] - Other directors and key executives hold minor beneficial interests, with the highest being 12,671,279 shares, representing 0.76%[33] - The total number of shares held by the related entities indicates a concentrated ownership structure, which may impact governance and decision-making[38] - The ownership data reflects a stable control by major shareholders, which may influence strategic directions and market expansions[38] Corporate Governance - The company has complied with the corporate governance code, except for the separation of roles between the chairman and the CEO, which has not been appointed since the resignation of the previous CEO[47] - The company failed to comply with GEM Listing Rules regarding the minimum number of independent non-executive directors, which should be three, following the termination of Ms. Guan's directorship[53] - The board has made changes to the audit committee and remuneration committee compositions following the termination of Ms. Guan's directorship[53] - The company is in the process of ensuring compliance with the GEM Listing Rules regarding the composition of its committees[53] Strategic Developments - The company continues to focus on providing security services and business consulting, with no new products or technologies reported in this quarter[5] - The company established Shandong Guanhui Jiyie Commercial Management Co., Ltd. to expand its security and property management services in mainland China[19] - The company aims to enhance its reputation and service offerings in the security sector, leveraging its ISO 9001:2008 certification and operational experience[19] - The company's asset management services have entered a rapid development phase, with assets under management focusing on controlling mergers and long-term investments in leading companies in niche sectors[21] - The asset management team is committed to exploring business and investment opportunities, aiming for high-quality development in the next one to two years[21] - The company plans to continue expanding its security and property management services in mainland China, focusing on schools, industrial parks, and government departments[22] - The company believes in the strong potential of the mainland asset management industry, which will bring new development opportunities[23] Stock Options and Shares - The company’s stock options plan has been referenced, indicating potential future dilution of shares[33] - As of June 30, 2021, a total of 138,218,179 stock options were outstanding, with no options granted, exercised, cancelled, or expired during the three months[41] - All granted stock options have no vesting period or conditions attached[41] - The company adjusted the number and exercise price of unexercised share options due to the share consolidation on August 2, 2021[56] Events and Compliance - The company has not disclosed any significant events that occurred after June 30, 2021, up to the report date[57] - The company did not purchase, sell, or redeem any of its listed securities during the three months ended June 30, 2021[43] - The company has adopted written guidelines regarding securities transactions by directors, confirming compliance with the trading standards[45] - There were no interests held by directors or controlling shareholders in any competing businesses during the three months ended June 30, 2021[50] - The audit committee reviewed the financial reporting process and internal control procedures for the three months ended June 30, 2021[48] - There were no significant acquisitions or disposals of subsidiaries or associates during the three months ended June 30, 2021[51] - The company completed a share consolidation, merging every five existing shares into one new consolidated share, effective from August 2, 2021[56] - A subscription agreement was established for the issuance of 249,090,909 new consolidated shares at a subscription price of HKD 0.275 per share, approved by shareholders on July 29, 2021[56] - The new shares from the subscription were completed on August 5, 2021[56] - The company appointed Mr. Song as the new authorized representative effective from July 12, 2021[53]

2020/21 ANNUAL REPORT GREATWALLE INC. 長城匯理公 司 (Incorporated in the Cayman Islands with limited liability) Stock Code: 8315 2020/21 GREATWALLE INC. 長城匯理公 司 (於開曼群島註冊成立的有限公司) 股份代號 : 8315 年 報 GREATWALLE INC. 長城匯理公司 Annual Report 2020/21 年 報 香港聯合交易所有限公司（「聯交所」）GEM的特色 GEM的定位，乃為中小型公司提供一個上市的市場，此等公司相比起其他在主板上市的公司帶有較高投資風險。 有意投資的人士應了解投資於該等公司的潛在風險，並應經過審慎周詳的考慮後方作出投資決定。 由於GEM上市公司普遍為中小型公司，在GEM買賣的證券可能會較於主板買賣之證券承受較大的市場波動風險， 同時無法保證在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香港聯合交易所有限公司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，並明確表示概不就因本報告全部或任何部分內容而 ...