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 之 內 容 概 不 負 責，對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或 任何部分內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 CHINA HONGBAO HOLDINGS LIMITED 執行董事程俊先生及于華先生以及獨立非執行董事鄒振濤先生、張嘉裕教授及黃 志恩女士已親身或通過虛擬會議方式出席股東週年大會。張嘉裕教授擔任股東週 年大會主席。 | 票數(% ) | 普通決議案 | | | | | | | | | | | | | | | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 贊成 | 反對 | | | | | | | | | | | | | | | ...

GEM的特色 GEM的定位，乃為相比起其他於聯交所上市的中小型公司帶有較高投資風險的公司提供一個上市的市場。有意 投資者應了解投資於該等公司的潛在風險，並應經過審慎周詳考慮後方作出投資決定。 由於GEM上市公司通常為中小型公司，於GEM買賣的證券可能會較於聯交所主板買賣的證券承受較大的市場 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之內容概不負責，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倚賴該等內容而引致之任何損失承擔任何責任。 本報告之資料乃遵照GEM上市規則而刊載，旨在提供有關本公司之資料；董事願就本報告之資料共同及個別地 承擔全部責任。董事在作出一切合理查詢後，確認就其所知及所信，本報告所載資料在各重要方面均準確完備， 沒有誤導或欺詐成分，且並無遺漏任何其他事項，足以令致本報告所載任何陳述或本報告產生誤導。 1 中國紅包控股有限公司 2025 年年度報告 目錄 | 公司資料 | 3 | | --- | --- | | 主席報告 | 4 | | 管理層討論及分析 | 6 | | 董事及高級管理層 ...

Financial Performance - For the fiscal year ending March 31, 2025, the total revenue was HKD 80,854,000, a decrease of 17.1% compared to HKD 97,557,000 for the previous year[6]. - The cost of sales for the same period was HKD 57,835,000, down 24.5% from HKD 76,559,000 in the prior year, resulting in a gross profit of HKD 23,019,000, which is an increase of 9.7% from HKD 20,998,000[6]. - The net loss for the year was HKD 9,747,000, compared to a net loss of HKD 7,478,000 in the previous year, indicating a deterioration in performance[6]. - The basic loss per share for the year was HKD 1.10, compared to HKD 0.86 in the previous year, reflecting a higher loss per share[6]. - The total comprehensive loss for the year was HKD 9,825,000, compared to HKD 6,736,000 in the previous year, indicating an increase in overall losses[6]. - The group reported a net loss of approximately HKD 9,825,000 for the year ending March 31, 2025[23]. - The group recorded a loss before tax of approximately HKD 9.4 million for the year ending March 31, 2025, compared to approximately HKD 7.5 million in 2024, primarily due to a decrease in other income[61]. - The company reported a pre-tax loss of HKD 9,747,000 for the year ended March 31, 2025, compared to a loss of HKD 7,478,000 for the previous year[43]. Revenue and Income - Revenue for the year ending March 31, 2025, was HKD 46,168 million, a decrease from HKD 59,550 million in the previous year[28]. - The total revenue from external customers for the year ending March 31, 2025, was HKD 97,557 million, compared to HKD 76,559 million in the previous year[29]. - The company’s other income was HKD 145 million, while other expenses amounted to HKD 27,421 million[28]. - Other income and gains increased significantly to HKD 145,000 from HKD 17,153,000, indicating a positive shift in this area[6]. - Other income and gains for 2025 are expected to be HKD 145 million, compared to HKD 17,153 million in 2024, indicating a significant drop[38]. Assets and Liabilities - Total assets increased to HKD 58,854,000 in 2025 from HKD 23,374,000 in 2024, representing a growth of 151.5%[7]. - Current assets rose to HKD 57,522,000 in 2025, up from HKD 17,191,000 in 2024, marking a significant increase of 234.5%[7]. - Total liabilities grew to HKD 74,186,000 in 2025, compared to HKD 52,677,000 in 2024, an increase of 40.8%[8]. - Current liabilities increased to HKD 67,159,000 in 2025 from HKD 52,677,000 in 2024, reflecting a rise of 27.5%[8]. - The net current liabilities decreased to HKD 15,332,000 in 2025 from HKD 29,303,000 in 2024, showing an improvement of 47.8%[7]. - The company reported a total equity of HKD 9,534,000 in 2025, a decrease from HKD 8,664,000 in 2024, indicating a decline of 10%[8]. Operational Efficiency - Administrative expenses decreased to HKD 27,421,000 from HKD 32,227,000, showing a reduction in operational costs[6]. - The company reported a significant impairment loss on contract assets of HKD 531,000, down from HKD 5,107,000, suggesting improved asset management[6]. - The group recognized impairment losses on financial assets, contract assets, and property, plant, and equipment totaling approximately HKD 3.9 million for the year ending March 31, 2025, down from approximately HKD 11.4 million in 2024[58]. - The group’s sales cost decreased from approximately HKD 76.6 million for the year ending March 31, 2024, to approximately HKD 57.8 million for the year ending March 31, 2025, a reduction of about HKD 18.8 million or 24.5%[55]. Future Outlook and Strategy - The company is focusing on market expansion and new product development to improve future performance[5]. - The company plans to focus on expanding its service offerings in both Hong Kong and mainland China to enhance revenue streams[36]. - The group aims to expand its business in the higher-margin O2O sector to mitigate potential adverse impacts from the construction and supply chain markets[53]. - The company is focusing on expanding its charging station network and related services to enhance market presence[31]. Governance and Compliance - The board of directors confirmed the accuracy and completeness of the financial information presented in the report[4]. - The Audit Committee has reviewed the consolidated financial statements for the year ending March 31, 2025, and believes they comply with applicable accounting standards and GEM listing rules[95]. - The external auditor, Zhong Zheng Tian Heng Certified Public Accountants Limited, confirmed that the financial figures are consistent with the audited consolidated financial statements for the year[96]. Share Capital and Financing - The group plans to increase its authorized share capital from HKD 10,000,000 (1,000,000,000 shares) to HKD 30,000,000 (3,000,000,000 shares) by issuing an additional 2,000,000,000 shares[48]. - The company completed the issuance of 41,666,000 new shares at a subscription price of HKD 0.12 per share, with a market value of approximately HKD 4.8 million based on the closing price on the subscription date[77]. - The company entered into a conditional subscription and loan capitalization agreement on January 15, 2025, agreeing to issue 45,310,000 new shares at a subscription price of HKD 0.203 per share, with a market value of approximately HKD 9.1 million based on the closing price of HKD 0.200 per share on that date[78]. Employee and Compensation - The total employee compensation for the fiscal year ending March 31, 2025, was approximately HKD 14.7 million, a decrease from HKD 27.8 million in the previous year[88]. - The company employed a total of 59 employees as of March 31, 2025, down from 76 employees in the previous year[88]. Taxation - The income tax expense for the year included HKD 358,000 for current tax in China, with no prior year adjustments[40]. - The company has no provision for Hong Kong profits tax for the year ended March 31, 2025, due to losses incurred[41].

Financial Performance - For the six months ended September 30, 2024, the company reported revenue of HKD 33,904,000, a decrease of 34.9% compared to HKD 53,642,000 in the same period of 2023[3]. - Gross profit for the same period was approximately HKD 7,989,000, resulting in a gross margin of 23.6%, down from 31.3% in 2023[24]. - The company recorded a loss before tax of HKD 4,433,000, compared to a profit of HKD 1,054,000 in the previous year[3]. - Total comprehensive loss attributable to owners of the company was HKD 4,609,000, compared to a profit of HKD 1,626,000 in 2023[3]. - The company recorded a loss attributable to owners of HKD 30,759 thousand for the six months ended September 30, 2024, slightly improved from a loss of HKD 31,150 thousand for the same period in 2023[50]. - The company’s total comprehensive loss for the period was HKD 4,609 thousand, compared to HKD 4,433 thousand in the previous year, indicating a slight increase in losses[64]. - The company’s basic earnings per share for the six months ended September 30, 2024, was a loss of HKD 5.03, while for the same period in 2023, it was a profit of HKD 1.22[91]. - The total loss and comprehensive expenses for the six months ending September 30, 2024, amounted to approximately HKD 4.6 million, a shift from a profit of about HKD 1.6 million in the same period of 2023, mainly due to a decrease in gross profit[135]. Cash Flow and Financial Position - The company’s net cash used in operating activities was HKD (3,048,000) for the six months ended September 30, 2024[37]. - As of September 30, 2024, total assets amounted to HKD 21,618,000, while total liabilities were HKD 51,466,000[27]. - The company’s total liabilities decreased to HKD 178,509 thousand as of September 30, 2024, from HKD 174,076 thousand as of March 31, 2024[50]. - The company’s total liabilities as of September 30, 2024, included borrowings of HKD 7,264,000 and cash of HKD 2,694,000, remaining unchanged from March 31, 2024[79]. - Total debt, net of cash and cash equivalents, was HKD 39,149 thousand as of September 30, 2024, compared to HKD 38,699 thousand as of March 31, 2024[138]. - The debt-to-asset ratio improved slightly from 120.3% as of March 31, 2024, to 117.4% as of September 30, 2024[138]. - As of September 30, 2024, the total cash and cash equivalents amounted to approximately HKD 3.0 million, an increase from approximately HKD 1.2 million as of March 31, 2024[115]. Segment Performance - Internet services segment generated revenue of HKD 8,777 thousand, a significant increase from HKD 3,644 thousand in the previous year, indicating a growth of approximately 141%[64]. - The construction and other engineering segment reported revenue of HKD 25,127 thousand, up from HKD 22,271 thousand, reflecting an increase of about 8%[64]. - The internet services segment recorded revenue of approximately HKD 8.8 million for the six months ended September 30, 2024, down from HKD 28.9 million in 2023, with a gross profit of approximately HKD 5.1 million compared to HKD 12.8 million in 2023[109]. - The company reported a segment profit of HKD 5,133 thousand from internet services, compared to HKD 12,773 thousand in the previous year, showing a decline of approximately 60%[64]. Cost Management - The company experienced a significant decrease in administrative expenses, which were HKD (11,912,000) compared to HKD (14,952,000) in the previous year, reflecting a reduction of 20.4%[3]. - The company’s financing costs decreased to HKD (636,000) from HKD (834,000) in the previous year, indicating a reduction of 23.7%[3]. - Service costs decreased by approximately HKD 11.0 million or 29.7% to about HKD 25.9 million for the six months ending September 30, 2024, driven by a reduction in revenue[133]. - Administrative expenses decreased by approximately HKD 3.1 million or 20.3% to about HKD 11.9 million for the six months ending September 30, 2024, primarily due to a reduction in personnel costs[134]. Shareholder Information - The company did not declare an interim dividend for the six months ended September 30, 2024, consistent with the previous year[92]. - The company does not recommend the payment of an interim dividend for the six months ended September 30, 2024, consistent with the previous year[191]. - The issued share capital as of September 30, 2024, was approximately HKD 9.1 million, equivalent to 908,066,000 shares with a par value of HKD 0.01 each[162]. Strategic Plans and Future Outlook - The company plans to enhance its financial position by capitalizing on internal resources to settle debts, thereby avoiding interest burdens[26]. - The company plans to continue expanding its internet services and construction segments to enhance revenue streams in the future[58]. - The group strategically focuses on expanding its business in the higher-margin O2O commerce sector to offset potential adverse impacts from the Hong Kong construction and Chinese supply chain markets[109]. - The group aims to explore new business opportunities and diversify its portfolio to enhance shareholder value[109]. - The company has not yet finalized any new product launches or technological developments but is actively exploring opportunities in the market[58]. Employee and Management Information - The total employee compensation for the six months ended September 30, 2024, was approximately HKD 14.9 million, an increase from HKD 11.7 million for the same period in 2023, reflecting a growth of about 27.4%[170]. - The management's total remuneration for the six months ended September 30, 2024, was approximately HKD 1.1 million, compared to HKD 0.6 million in 2023[127]. - The company employed a total of 97 staff as of September 30, 2024, compared to 76 staff as of March 31, 2024, indicating a workforce increase of approximately 27.6%[170]. Miscellaneous - The company has not entered into any significant related party transactions during the six months ended September 30, 2024[104]. - The company has no significant contingent liabilities as of September 30, 2024[165]. - There were no major capital commitments as of September 30, 2024[167]. - The company does not have any major investments or specific plans for capital assets as of September 30, 2024[192]. - The company has adopted a share option scheme since July 6, 2015, but no share options have been granted, exercised, cancelled, or lapsed as of the report date[175]. - The group sold its wholly-owned subsidiary, with a cash consideration of USD 10,000 on September 23, 2024[130]. - The group recorded a net cash inflow of approximately HKD 78 million from the sale of subsidiaries[107]. - The group has no business operations for its subsidiary companies as of September 30, 2024[106]. - There were no significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the six months ending September 30, 2024[143]. - The group has not held any treasury shares as of September 30, 2024, and did not buy, sell, or redeem any listed securities during the reporting period[148]. - The company confirmed a gain of approximately HKD 91,000 from the sale of its wholly-owned subsidiary, with the transaction valued at USD 100,000[168].

Financial Performance - For the six months ended September 30, 2024, the company reported total revenue of HKD 33,904,000, a decrease of 37% compared to HKD 53,642,000 for the same period in 2023[5] - Gross profit for the same period was HKD 7,989,000, down 52% from HKD 16,767,000 year-on-year[5] - The company recorded a loss before tax of HKD 4,433,000, compared to a profit of HKD 1,054,000 in the previous year[5] - Total comprehensive loss attributable to owners of the company was HKD 4,609,000, compared to a profit of HKD 1,626,000 in the same period last year[5] - Basic and diluted loss per share was HKD 0.50, compared to earnings of HKD 0.10 per share in the prior year[5] - The company reported a total comprehensive loss of HKD (4,609) thousand for the six months ended September 30, 2024, compared to a total comprehensive income of HKD 1,626 thousand for the same period in 2023[10] - The company reported a loss of HKD 4,433,000 for the six months ended September 30, 2024, compared to a profit of HKD 1,052,000 in the same period of 2023[32] - The group recorded a gross profit of approximately HKD 8.0 million for the six months ended September 30, 2024, down from approximately HKD 16.8 million in 2023, with a gross margin of about 23.6% compared to 31.3% in 2023[64] Assets and Liabilities - As of September 30, 2024, total assets amounted to HKD 21,618,000, while total liabilities were HKD 51,466,000[7] - The total liabilities increased to HKD 178,509 thousand as of September 30, 2024, compared to HKD 115,875 thousand as of April 1, 2024[10] - The total debt net of cash and cash equivalents was approximately HKD 36.13 million as of September 30, 2024, compared to HKD 37.47 million as of March 31, 2024[71] Cash Flow - The net cash used in operating activities for the six months ended September 30, 2024, was HKD (3,048) thousand, compared to HKD 72 thousand in the same period of 2023[11] - The cash and cash equivalents at the end of the period were HKD 3,023 thousand, down from HKD 1,230 thousand at the beginning of the period[11] Expenses and Cost Control - Administrative expenses decreased to HKD 11,912,000 from HKD 14,952,000 year-on-year, indicating cost control efforts[5] - Employee benefits expenses, including director remuneration, increased to HKD 14,870,000 from HKD 11,716,000 year-on-year, representing a growth of approximately 27.5%[27] - The company's service costs decreased by approximately HKD 11.0 million or 29.7% to about HKD 25.9 million for the six months ended September 30, 2024, driven by the reduction in revenue[63] - Administrative expenses decreased by approximately HKD 3.1 million or about 20.3% to approximately HKD 11.9 million for the six months ended September 30, 2024, primarily due to a reduction in personnel costs[65] Strategic Initiatives - The company aims to explore new strategies for market expansion and product development in the upcoming periods[5] - The company strategically focuses on expanding its business in the higher-margin O2O commerce sector to offset potential adverse impacts from the construction and supply chain markets[61] - The company remains committed to exploring new business opportunities to enhance shareholder returns through diversification and leveraging emerging industries[61] - The company is considering strategic acquisitions to enhance its product offerings and market presence[91] Shareholder Information - The company did not declare an interim dividend for the six months ended September 30, 2024, consistent with the previous year[34] - The company issued shares resulting in an increase in share capital to HKD 9,081 thousand as of September 30, 2024, from HKD 8,664 thousand as of April 1, 2024[10] - The board has approved a share buyback program worth HKD 20 million to enhance shareholder value[92] Future Outlook - The company provided a positive outlook for the next quarter, projecting a revenue growth of 20%[91] - New product launches are expected to contribute an additional HKD 30 million in revenue over the next six months[92] - Market expansion plans include entering two new regions, which are projected to increase market share by 5%[92] - The anticipated credit loss for the upcoming fiscal year is estimated at HKD 5 million[92] - The company plans to implement new strategies to improve operational efficiency, aiming for a 10% reduction in costs[91] Compliance and Governance - The audit committee reviewed the unaudited condensed consolidated financial statements for the six months ended September 30, 2024, confirming compliance with applicable accounting standards and GEM listing rules[88] - The company has adhered to the corporate governance code as per GEM listing rules, with a review of internal audit functions ongoing to ensure cost-effectiveness[87] - There were no significant subsequent events reported after September 30, 2024, indicating stability in operations[81] Employee Information - As of September 30, 2024, the group employed a total of 97 employees, an increase from 76 employees as of March 31, 2024[80] - Total employee compensation for the six months ended September 30, 2024, was approximately HKD 14.9 million, compared to HKD 11.7 million for the same period in 2023, reflecting a year-over-year increase of 27.4%[80]

Financial Performance - For the fiscal year ending March 31, 2024, the group generated revenue of approximately HKD 59.6 million from its foundation and other construction engineering business, a slight decrease from HKD 60.7 million in 2023[11]. - The group recorded revenue of approximately HKD 38.0 million from its internet services segment, including O2O business and supply chain management, down from HKD 40.7 million in 2023[11]. - For the fiscal year ending March 31, 2024, the group's revenue was approximately HKD 97.6 million, a slight decrease of about HKD 3.8 million or 3.8% compared to HKD 101.4 million for the fiscal year ending March 31, 2023[22]. - The group's sales cost decreased from approximately HKD 86.5 million for the fiscal year ending March 31, 2023, to approximately HKD 76.6 million for the fiscal year ending March 31, 2024, a reduction of about HKD 10.0 million or 11.5%[23]. - The group recorded a gross profit of approximately HKD 21.0 million for the fiscal year ending March 31, 2024, compared to approximately HKD 14.9 million for the fiscal year ending March 31, 2023, resulting in a gross profit margin of approximately 21.5%[24]. - Other income and gains increased significantly from approximately HKD 2.0 million for the fiscal year ending March 31, 2023, to approximately HKD 17.2 million for the fiscal year ending March 31, 2024, primarily due to the recognition of gains from the sale of certain subsidiaries[25]. - Administrative expenses rose from approximately HKD 26.0 million for the fiscal year ending March 31, 2023, to approximately HKD 32.2 million for the fiscal year ending March 31, 2024, an increase of about HKD 6.2 million or 23.8%[26]. - The net loss attributable to owners for the fiscal year ending March 31, 2024, was approximately HKD 7.5 million, a decrease from approximately HKD 19.0 million for the fiscal year ending March 31, 2023[29]. - As of March 31, 2024, the current ratio was approximately 0.33, down from approximately 0.74 as of March 31, 2023[31]. - Total debt as of March 31, 2024, was approximately HKD 38.7 million, a decrease from approximately HKD 63.1 million as of March 31, 2023[35]. - The debt-to-equity ratio improved from -174.2% for the fiscal year ending March 31, 2023, to -120.3% for the fiscal year ending March 31, 2024[37]. Business Strategy and Opportunities - The group is exploring suitable business opportunities to diversify its operations, particularly in the rapidly growing Chinese e-commerce market[12]. - The board believes that the construction industry market conditions will improve despite current challenges, and the group is prepared to compete effectively[12]. - The establishment of Hainan Hongbao Linked Technology Co., Ltd. aims to enhance the group's supply chain management services and expand into the O2O business[11]. - The group is actively seeking investment opportunities to diversify its business and enhance returns for shareholders[12]. - The construction industry in Hong Kong faces challenges such as increased competition, labor shortages, and rising operational costs[12]. - The company does not plan any significant investments or capital asset projects as of March 31, 2024[55]. Shareholder and Capital Management - The company's issued share capital increased from 800,000,000 shares to 866,400,000 shares after completing the subscription of new shares A on January 16, 2023[39]. - Following the completion of the subscription of new shares B on March 13, 2023, the total issued share capital rose to 866,400,000 shares[40]. - The net proceeds from the subscription of new shares A amounted to approximately HKD 19.8 million, intended for general working capital[41]. - The net proceeds from the subscription of new shares B were approximately HKD 27.9 million, also designated for general working capital, including debt repayment[44]. - The company confirmed a gain of approximately HKD 17 million from the sale of its subsidiaries during the fiscal year ending March 31, 2024[53]. - The company will hold its annual general meeting on September 16, 2024, where Mr. Cheng, Dr. Zhang, and Ms. Huang will retire from their director positions but are eligible for re-election[114]. - The company will continuously review its dividend policy, considering factors such as financial performance, shareholder equity, and operational funding needs[150]. - The company did not recommend any final dividend for the year ended March 31, 2024, consistent with the previous year[185]. Employee and Governance - As of March 31, 2024, the total employee compensation, including directors' remuneration, was approximately HKD 27.8 million, an increase from HKD 18.4 million in 2023[58]. - The company employed a total of 76 employees as of March 31, 2024, compared to 74 employees in 2023[58]. - The company views employees as valuable assets and has made efforts to attract and retain suitable staff for the fiscal year ending March 31, 2024[71]. - The board believes that the company maintains good relationships with employees and has not faced any significant labor disputes or difficulties in hiring experienced staff[71]. - The company has established training programs to enhance the ethical and integrity standards required for all employees[1]. - The company emphasizes a culture of commitment to employee development, workplace safety, and sustainability, which is crucial for attracting and retaining top talent[100]. Corporate Governance - The company has maintained compliance with the corporate governance code as per GEM listing rules, with a noted exception regarding risk management and internal controls[90]. - The board consists of five members, including two executive directors and three independent non-executive directors, ensuring compliance with GEM listing rules[102]. - The company has established three board committees: the Remuneration Committee, the Nomination Committee, and the Audit Committee, to oversee specific areas of the company's affairs[120]. - The Audit Committee held four meetings during the year ending March 31, 2024, to review the company's annual, interim, and quarterly performance, as well as internal control procedures and risk management systems[121]. - The Remuneration Committee held two meetings during the year ending March 31, 2024, to review the remuneration of directors and senior management[125]. - The Nomination Committee held three meetings during the fiscal year ending March 31, 2024, to review and recommend the re-election of directors[128]. - The company has adopted a code of conduct for directors' securities transactions, confirming compliance with the stipulated trading standards[101]. - The independent non-executive directors play a significant role in providing impartial opinions on the company's strategy and performance, ensuring the interests of all shareholders are considered[108]. - The company has established a nomination committee chaired by an independent non-executive director, ensuring a majority of independent members[95]. - The board has established a healthy corporate culture essential for achieving sustainable development, aligning with the company's vision and values[98]. Risk Management - The board is responsible for the effectiveness of risk management and internal control systems, which are designed to manage risks rather than eliminate them[154]. - The group has established risk management procedures to monitor and mitigate operational risks effectively[156]. - The audit committee conducted an annual review of the risk management and internal control systems, reporting that they are effective and sufficient, with compliance to the corporate governance code except for the internal audit function[162]. - The group appointed external professionals for independent review and assessment of the risk management and internal control systems, which were deemed effective and sufficient by the board[159]. - The company has adopted a whistleblowing policy since 2015, which allows employees and stakeholders to report serious misconduct without fear of retaliation, with no significant fraud or misconduct incidents reported for the year ending March 31, 2024[163]. - The company has implemented an anti-bribery and anti-corruption policy to uphold the highest standards of integrity and ethical behavior in business operations[166]. Customer and Supplier Relations - Approximately 91.7% of the group's contract assets and trade receivables as of March 31, 2024, were concentrated among five major customers, compared to 99.5% in the previous year[38]. - The company's top five customers accounted for approximately 72.8% of total revenue for the year ended March 31, 2024, compared to 58.9% in 2023, with the largest customer contributing about 31.8% of total revenue[67]. - The company subcontracted approximately 26.7% of total sales costs for the year ended March 31, 2024, down from 45.8% in 2023, with the largest subcontractor accounting for about 15.2% of total sales costs[70]. - The company's five largest suppliers accounted for no more than 30% of total sales costs for the years ended March 31, 2024, and 2023[69]. - The largest supplier contributed approximately 9.3% to the total cost of sales during the year ending March 31, 2024[200]. - The top five suppliers accounted for about 17.0% of the total cost of sales[200]. - The largest subcontractor represented approximately 15.2% of the total cost of sales for the year ending March 31, 2024[200]. - The top five subcontractors collectively contributed about 24.4% to the total cost of sales[200]. - No directors or significant shareholders have any beneficial interest in the top five customers, suppliers, or subcontractors known to the board[200].

Financial Performance - For the fiscal year ending March 31, 2024, total revenue was HKD 97,557,000, a decrease of 3.9% from HKD 101,386,000 in the previous year[7]. - Gross profit increased to HKD 20,998,000, representing a significant rise of 41.5% compared to HKD 14,850,000 in the prior year[7]. - The company reported a net loss of HKD 7,478,000, an improvement from a net loss of HKD 19,041,000 in the previous year, indicating a reduction in losses by approximately 60.8%[7]. - Other income and gains surged to HKD 17,153,000, compared to HKD 2,018,000 in the previous year, marking an increase of 748.5%[7]. - The group generated total revenue of HKD 97,557,000 for the year ending March 31, 2024, with a cost of sales amounting to HKD 76,559,000[32]. - The company reported a total of HKD 11,940 million in assets for the new energy segment as of March 31, 2024[36]. - The company’s total liabilities in the new energy segment were HKD 11,165 million as of March 31, 2024[36]. - The company reported a basic loss per share of HKD 7,478,000 for the year ended March 31, 2024, compared to a loss of HKD 19,041,000 for the previous year[53]. Assets and Liabilities - Total assets as of March 31, 2024, were HKD 105,717,000, down from HKD 123,374,000 in the previous year, reflecting a decrease of 14.3%[8]. - Total liabilities decreased to HKD 38,806,000 from HKD 49,000,000, a reduction of 20.8%[8]. - The company’s cash and cash equivalents stood at HKD 17,191,000, down from HKD 93,458,000, indicating a significant decrease of 81.7%[8]. - As of March 31, 2024, the group's current liabilities and total liabilities were approximately HKD 35,486,000 and HKD 31,150,000, respectively, with cash and cash equivalents of about HKD 1,230,000[27]. - Total liabilities as of March 31, 2024, included current liabilities of approximately HKD 35,486,000 and total liabilities of about HKD 31,150,000[62]. - The company had cash and cash equivalents of approximately HKD 1,230,000 as of March 31, 2024, raising concerns about its ability to continue as a going concern[62]. Operational Strategy - The company plans to focus on expanding its market presence and enhancing product offerings in the upcoming fiscal year[6]. - The company has committed to providing new energy charging pile supply and installation services as part of its business expansion strategy[32]. - The group has initiated an O2O business model in mainland China, integrating online and offline sales of food and daily necessities[30]. - The company plans to expand its market presence through new product development and strategic partnerships in the renewable energy sector[33]. - Future guidance indicates a focus on improving operational efficiency and reducing costs to enhance profitability[33]. - The management emphasized the importance of supply chain management and installation services in driving future revenue growth[33]. Accounting and Compliance - The group has adopted new and revised Hong Kong Financial Reporting Standards effective from April 1, 2023, which did not have a significant impact on the financial position and performance[13]. - The group does not expect the application of the new and revised Hong Kong Financial Reporting Standards to have a significant impact on the consolidated financial statements[19]. - The amendments to Hong Kong Accounting Standards No. 10 and No. 28 will take effect for annual periods beginning on or after January 1, 2024[22]. - The group has not applied any new or revised Hong Kong Financial Reporting Standards in advance[19]. - The independent auditor's report confirmed that the consolidated financial statements fairly reflect the company's financial position as of March 31, 2024[61]. Customer Contributions - Customer A contributed HKD 30,976,000, Customer B contributed HKD 21,858,000, and Customer C contributed HKD 18,236,000 to the total revenue for the year ending March 31, 2024[43]. - Customer D's revenue did not exceed 10% of the group's total revenue for the year ending March 31, 2024, while in the previous year, it contributed HKD 41,120,000[43]. Future Outlook - The company is exploring strategic acquisitions to enhance its service offerings and market reach[36]. - Future outlook indicates a focus on improving operational efficiency and increasing market share in both Hong Kong and Mainland China[36]. - The group believes that the construction industry will improve despite current challenges, leveraging its business model and market reputation to compete effectively[64]. Share Issuance and Capital Structure - The company issued new shares, increasing the total number of shares from 800 million to 866.4 million between January and March 2023, enhancing its capital structure[84][85]. - The net proceeds from the issuance of new shares A were approximately HKD 19.8 million, intended for general working capital[86]. - The company issued 38,350,000 new shares at a subscription price of HKD 0.730 per share, raising approximately HKD 27.9 million net after expenses[88]. - The company entered into a subscription agreement on April 24, 2024, to issue 41,666,000 shares at a subscription price of HKD 0.12 per share, totaling approximately HKD 4,999,920[104]. Employee Compensation - The total employee compensation for the fiscal year ending March 31, 2024, was approximately HKD 27.8 million, an increase from HKD 18.4 million in 2023[102].

Financial Performance - For the six months ended September 30, 2023, the company reported revenue of HKD 53,642,000, a 78.5% increase from HKD 30,026,000 in the same period of 2022[4] - The gross profit for the same period was HKD 16,767,000, compared to a gross profit of HKD 1,183,000 in 2022, indicating a significant recovery[4] - The company achieved a profit before tax of HKD 1,054,000 for the six months ended September 30, 2023, compared to a loss of HKD 7,211,000 in the previous year[4] - The company reported a basic and diluted earnings per share of HKD 0.1 for the six months ended September 30, 2023, compared to a loss per share of HKD 0.9 in the same period of 2022[4] - The company recorded a total comprehensive income of HKD 1,626,000 for the six months ended September 30, 2023, compared to a total comprehensive loss of HKD 7,848,000 in the previous year[9] - The total profit and comprehensive income attributable to the owners of the company for the six months ended September 30, 2023, was approximately HKD 1.6 million, a turnaround from a loss of approximately HKD 7.8 million for the same period in 2022, primarily due to an increase in gross profit, particularly from the internet services segment[57] Revenue Segments - The revenue from construction services was HKD 24,789,000, while internet services generated HKD 28,853,000, indicating a significant growth in both segments[17] - The company recorded revenue of approximately HKD 28.9 million from its internet services segment, which includes supply chain management, for the six months ended September 30, 2023[51] Cash Flow and Assets - The net cash used in operating activities for the six months was HKD 6,190,000, slightly improved from HKD 7,071,000 in 2022[11] - As of September 30, 2023, total assets were HKD 54,170,000, down from HKD 93,458,000 as of March 31, 2023[5] - The cash and cash equivalents at the end of the period were HKD 2,931,000, a decrease from HKD 20,574,000 at the beginning of the period[11] - The total cash and cash equivalents as of September 30, 2023, were approximately HKD 2.9 million, a decrease from approximately HKD 20.6 million as of March 31, 2023[60] Liabilities and Equity - The company's current liabilities amounted to HKD 84,701,000, a decrease from HKD 126,372,000 at the end of the previous reporting period[5] - The company’s equity attributable to owners was HKD (22,788,000) as of September 30, 2023, an improvement from HKD (24,414,000) at the end of the previous reporting period[7] - The total debt as of September 30, 2023, was approximately HKD 52.2 million, down from HKD 63.1 million as of March 31, 2023[63] - The net debt as of September 30, 2023, was approximately HKD 49.3 million, compared to HKD 42.5 million as of March 31, 2023[63] Expenses - The service costs increased by approximately HKD 8.1 million or 28.1% to about HKD 36.9 million, driven by the increase in revenue[54] - Administrative expenses rose by approximately HKD 7.6 million or 102.7% to about HKD 15.0 million, primarily due to increased operational costs associated with business expansion in Hong Kong[56] Share Capital and Dividends - The weighted average number of ordinary shares used for calculating basic earnings per share increased to 866,400 thousand shares from 800,000 thousand shares year-on-year[28] - No interim dividend was recommended for the six months ended September 30, 2023, compared to no dividend in 2022[29] - The company’s issued share capital increased to 866,400,000 shares as of September 30, 2023, following two rounds of share subscriptions in January and March 2023[44] Corporate Governance - The company has complied with all applicable corporate governance codes, except for a deviation regarding internal audit functions as noted in the corporate governance report dated June 26, 2023[88] - The Audit Committee was established on July 6, 2015, and consists solely of independent non-executive directors, ensuring compliance with GEM listing rules[89] - The Audit Committee reviewed the unaudited condensed consolidated financial statements for the six months ended September 30, 2023, confirming adherence to applicable accounting standards and GEM listing regulations[89] - The company has maintained effective internal controls and risk management systems, as overseen by the Audit Committee[89] Employee Information - As of September 30, 2023, the total number of employees increased to 112 from 74 as of March 31, 2023, with total employee compensation amounting to approximately HKD 11.7 million for the six months ended September 30, 2023, compared to HKD 5.1 million for the same period in 2022[78] - The total employee compensation for the six months ended September 30, 2023, reflects a significant increase of approximately 129.41% compared to the same period in the previous year[78] Future Outlook - The company continues to focus on expanding its internet services in China, which has shown significant revenue growth[19] - The company is actively exploring new opportunities in the e-commerce market, which has been rapidly developing in China, to diversify its business portfolio[51] - The company believes that the construction industry market conditions are improving, despite ongoing challenges, and is prepared to compete effectively[48]

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佈之內容 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 因本公佈全部或任何部分內容而產生或因倚賴該等內容而引致之任何損 失承擔任何責任。 CHINA HONGBAO HOLDINGS LIMITED 中 國 紅 包 控 股 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：8316） 截 至2023年9月30日 止 六 個 月 之 中 期 業 績 公 佈 中國紅包控股有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然宣佈本 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綜合業績（「中 期業績」）。本公告載有本公司2023年中期報告全文，符合香港聯合交易所 有 限 公 司（「聯 交 所」）GEM證 券 上 市 規 則（「GEM上 市 規 則」）中 有 關 中 期 業 績初步公佈附載資料之相關要求。 承董事會命 中國紅包控股有限公司 主席兼執行董事 程俊 香港，2023年11月3日 於本公佈日期，董事會成員包括執行董事程俊先生及于華先生；及獨立 非執行董事鄒振濤先生、孔維釗博士及黃志恩女士。 ...

Financial Performance - For the three months ended June 30, 2023, the company reported revenue of HKD 29,268,000, a 86.6% increase from HKD 15,725,000 in the same period of 2022[4] - Gross profit for the same period was HKD 7,213,000, compared to HKD 2,272,000 in 2022, representing a gross margin improvement from 14.5% to 24.6%[4] - The company achieved a profit before tax of HKD 94,000, a significant turnaround from a loss of HKD 619,000 in the previous year[4] - The total comprehensive income attributable to owners of the company for the period was HKD 160,000, compared to a loss of HKD 619,000 in the same quarter last year[4] - Basic and diluted earnings per share for the period were HKD 0.01, recovering from a loss per share of HKD 0.08 in the previous year[4] - The company's revenue for the three months ended June 30, 2023, was approximately HKD 29.3 million, an increase of about HKD 13.6 million or 86.1% compared to HKD 15.7 million for the same period in 2022[34] - The gross profit for the three months ended June 30, 2023, was approximately HKD 7.2 million, compared to approximately HKD 2.3 million in 2022, with a gross margin of approximately 24.6% in 2023, up from 14.4% in 2022[36] - The company recorded a profit attributable to owners of approximately HKD 92,000 for the three months ended June 30, 2023, compared to a loss of approximately HKD 619,000 for the same period in 2022[39] Revenue Sources - The supply chain management segment generated revenue of HKD 15,361,000, while the foundation and other construction services contributed HKD 13,907,000[12] - The company established a wholly-owned subsidiary in Hainan, China, to develop a comprehensive supply chain management business, which generated revenue of approximately HKD 15.4 million for the three months ended June 30, 2023[31] Expenses and Costs - The company reported administrative expenses of HKD 6,701,000, up from HKD 2,371,000 in the same period last year, indicating increased operational costs[4] - The cost of sales increased from approximately HKD 13.5 million for the three months ended June 30, 2022, to approximately HKD 22.1 million for the same period in 2023, representing an increase of about HKD 8.6 million or 63.9%[35] - The company recorded employee benefit expenses of HKD 6.77 million for the three months ended June 30, 2023, compared to HKD 1.27 million in 2022, indicating a significant increase in personnel costs[22] Corporate Actions - The company did not recommend any dividend payment for the three months ended June 30, 2023, consistent with the previous year[28] - The board of directors did not recommend the payment of a dividend for the three months ended June 30, 2023, consistent with no dividend in 2022[40] - The company has not granted any options under the share option scheme since its adoption on July 6, 2015[47] - There were no purchases, sales, or redemptions of the company's listed securities by the company or any of its subsidiaries during the three months ended June 30, 2023[50] Governance and Compliance - The audit committee has reviewed the unaudited condensed consolidated financial statements for the three months ended June 30, 2023, and confirmed compliance with applicable accounting standards and GEM listing rules[53] - The company has complied with all applicable corporate governance code provisions during the reporting period, except for a specific deviation noted in the corporate governance report[51] Market and Business Development - The company is focusing on expanding its supply chain management services in China, which began in the second half of 2022[11] - The company is actively exploring new opportunities in the rapidly growing e-commerce market in China, aiming to diversify its existing business portfolio[33] - The company has not disclosed any new product launches or technological developments during this reporting period[4] - There are no announcements regarding market expansion or mergers and acquisitions in the current report[4] - The company has not engaged in any business or interests that compete directly or indirectly with its operations as of June 30, 2023[48] Shareholding Structure - As of June 30, 2023, Mr. Cheng Jun holds 180,890,000 shares, representing 20.88% of the company's equity[43] - The major shareholder, Quantu Group Holdings Limited, holds 300,040,000 shares, accounting for 34.63% of the company's equity[45] Subsequent Events - There were no significant subsequent events after June 30, 2023, other than the change in trading unit for the company's shares effective July 17, 2023[41] Interest Expenses - The interest expenses on lease liabilities were HKD 97 thousand, while the interest on other borrowings was HKD 162 thousand for the three months ended June 30, 2023[20]