Financial Performance - The company's revenue for the three months ended June 30, 2018, was HKD 22,076,000, a decrease of 22.8% compared to HKD 28,607,000 for the same period in 2017[5] - The gross profit for the same period was HKD 1,626,000, representing a gross margin of 7.4%[5] - The loss before tax for the period was HKD 3,001,000, an improvement compared to a loss of HKD 9,055,000 in the previous year, reflecting a 66.9% reduction[5] - The basic and diluted loss per share was HKD 1.50, compared to HKD 4.53 for the same period in 2017[5] - The total comprehensive loss for the period was HKD 3,001,000, down from HKD 9,055,000 in the same period last year[5] - The company's overall revenue decreased from approximately HKD 28.6 million in the three months ended June 30, 2017, to approximately HKD 22.1 million in the same period of 2018, a decline of about 22.8%[37] - The company's gross profit increased from approximately HKD 1.0 million in the three months ended June 30, 2017, to approximately HKD 1.6 million in 2018, representing an increase of about 58.2%[41] - The loss attributable to owners of the company was approximately HKD 3.0 million for the three months ended June 30, 2018, compared to approximately HKD 9.0 million in the same period of 2017[43] Expenses and Costs - The administrative expenses decreased significantly to HKD 3,647,000 from HKD 10,018,000, a reduction of 63.6% year-on-year[5] - The financing costs increased to HKD 980,000 from HKD 78,000, marking a substantial rise of 1,256.4%[5] - The direct costs decreased from approximately HKD 27.6 million in the three months ended June 30, 2017, to approximately HKD 20.4 million in 2018, a decline of about 25.8%[40] Revenue Breakdown - Revenue from renovation projects was HKD 181,000, a significant decline from HKD 8,938,000 in the previous year, indicating a drop of 98%[16] - Revenue from decoration projects increased to HKD 21,895,000 from HKD 19,669,000, showing a growth of 11.3%[16] - Revenue from renovation projects was approximately HKD 0.2 million, a significant decrease of about 98.0% compared to approximately HKD 8.9 million in the same period of 2017[39] Shareholder Information - As of June 30, 2018, the company’s major shareholder, Chen Shaozhong, holds 76,500,000 shares, representing approximately 38% of the issued share capital[47] - W & Q Investment Limited, controlled by Liao Zhangqian, also holds 73,500,000 shares, accounting for about 37% of the issued share capital[49] Corporate Governance - The company has complied with the GEM Listing Rules regarding corporate governance, with some deviations noted in the roles of the chairman and CEO[59] - There were no interests held by directors or major shareholders in any competing businesses during the three months ending June 30, 2018[55] - The company’s board of directors did not hold a meeting with independent non-executive directors without the presence of executive directors during the reporting period[60] - The company has adopted strict procedures for regulating securities transactions by directors, in line with GEM Listing Rules[52] Future Outlook - The company plans to focus on renovation and decoration opportunities in Hong Kong, particularly in the entertainment and leisure sectors, and remains optimistic about business growth[45] Other Information - The company has no tax provisions for Hong Kong profits tax due to no taxable profits for the periods ended June 30, 2018, and June 30, 2017[26] - The board did not recommend any dividend payment for the period, consistent with the previous year[27] - No purchases, sales, or redemptions of the company's listed securities occurred during the three months ending June 30, 2018[56] - The company has not entered into any management or administrative contracts involving a significant portion of its business during the three months ending June 30, 2018[54] - The company reached a settlement regarding a shareholder dispute on March 27, 2019, resolving the litigation involving major shareholders[51] - No significant post-reporting period events were disclosed beyond the shareholder dispute[57] - The Audit and Risk Management Committee is responsible for ensuring the accuracy and fairness of the company's financial statements and reports, including the review of financial controls and risk management systems[66] - The company's shares have been suspended from trading since June 12, 2017, as per the Stock Exchange's directive[67] - The company has established a valid board of directors and has resolved the liquidation petition, meeting two of the conditions for resuming trading[68]

Financial Performance - For the three months ended December 31, 2017, the company reported revenue of HKD 30,106,000, a decrease of 22.9% compared to HKD 39,029,000 for the same period in 2016[5] - For the nine months ended December 31, 2017, total revenue was HKD 83,269,000, representing a slight increase of 2.6% from HKD 81,157,000 in the previous year[5] - The gross loss for the three months ended December 31, 2017, was HKD 7,053,000, compared to a gross profit of HKD 6,923,000 in the same period of 2016[5] - The company incurred a loss before tax of HKD 11,635,000 for the three months ended December 31, 2017, compared to a profit of HKD 2,533,000 in the same period of 2016[5] - The total comprehensive loss for the nine months ended December 31, 2017, was HKD 25,890,000, compared to a loss of HKD 8,307,000 for the same period in 2016[5] - The company reported a basic and diluted loss per share of HKD 5.82 for the three months ended December 31, 2017, compared to earnings of HKD 1.7 in the same period of 2016[5] - The company incurred total employee costs of HKD 15.7 million for the nine months ended December 31, 2017, compared to HKD 12.2 million for the same period in 2016, reflecting an increase of approximately 28.5%[20] - The company reported a pre-tax loss of HKD 25.9 million for the nine months ended December 31, 2017, compared to a loss of HKD 8.3 million for the same period in 2016[24] - The attributable loss to owners of the company was approximately HKD 25.9 million for the nine months ended December 31, 2017, compared to approximately HKD 8.5 million for the same period in 2016[38] Revenue Breakdown - Revenue from renovation projects for the nine months ended December 31, 2017, was HKD 16,426,000, a decrease of 70% from HKD 54,783,000 in the previous year[15] - Revenue from new project renovation for the nine months ended December 31, 2017, was HKD 66,843,000, an increase of 153.5% from HKD 26,374,000 in the previous year[15] - Revenue from renovation projects decreased by approximately 70.0% to about HKD 16.4 million for the nine months ended December 31, 2017, compared to approximately HKD 54.8 million for the same period in 2016[33] - Revenue from decoration projects increased significantly by approximately 153.4% to about HKD 66.8 million for the nine months ended December 31, 2017, compared to approximately HKD 26.4 million for the same period in 2016[31] Costs and Expenses - Direct costs rose by approximately 31.6% to about HKD 89.3 million for the nine months ended December 31, 2017, from approximately HKD 67.8 million for the same period in 2016[34] - Administrative expenses increased by approximately 52.2%, from about HKD 13.0 million for the nine months ended December 31, 2016, to approximately HKD 19.7 million for the same period in 2017, primarily due to professional fees related to shareholder disputes amounting to about HKD 2.9 million[36] Corporate Governance and Shareholder Matters - The company did not recommend any dividend payment for the period, consistent with the previous year[23] - The company has adhered to the corporate governance code as per GEM Listing Rules, with some deviations noted[52] - The company has not held any annual general meetings with shareholders in the nine months ending December 31, 2017, as required by corporate governance code E.1.2 and E.1.3[57] - The company’s shares have been suspended from trading since June 12, 2017, as per the instructions of the Stock Exchange[60] - The company is working to meet the remaining conditions for the resumption of trading, including establishing an effective board and resolving the liquidation petition[60] - The company confirmed that it will hold meetings with independent non-executive directors without the presence of executive directors annually[54] - The company has provided sufficient resources to the Audit and Risk Management Committee to fulfill its responsibilities[58] - The company has not published all outstanding financial results as required by GEM Listing Rules, which is one of the conditions for resumption of trading[62] - The company plans to arrange the 2019 annual general meeting in accordance with corporate governance code E.1.2 and E.1.3[57] Market Outlook and Strategy - The company maintains confidence in the prospects for renovation and refurbishment services in Hong Kong, particularly due to the government's measures to increase land supply for private residential and commercial buildings[39] - The company has established long-term stable relationships with major clients, including listed property developers, and has a strong management team contributing to its success[39] - The company will continue to focus on renovation and refurbishment opportunities in Hong Kong, especially projects from mainland property developers[39] Shareholder Information - As of December 31, 2017, the major shareholder W & Q Investment Limited held approximately 37% of the company's issued share capital, with 73.5 million shares[43] - The company did not engage in any share buybacks, sales, or redemptions of its listed securities during the nine months ended December 31, 2017[50] - The shareholder dispute was resolved on March 27, 2019, with a settlement agreement reached among the parties involved[45]

[Financial Performance](index=3&type=section&id=First%20Quarter%20Results) [Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=3&type=section&id=Unaudited%20Condensed%20Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) The Group's revenue grew significantly, but increased costs led to a wider net loss for the period Summary of Q1 Consolidated Statement of Profit or Loss | Indicator | For the three months ended June 30, 2017 (HK$ '000) | For the three months ended June 30, 2016 (HK$ '000) | YoY Change | | :--- | :--- | :--- | :--- | | Revenue | 28,607 | 18,918 | +51.2% | | Gross Profit | 1,028 | 2,911 | -64.7% | | Administrative Expenses | (10,018) | (5,411) | +85.1% | | Loss Before Tax | (9,055) | (8,592) | +5.4% | | Loss for the Period | (9,055) | (8,315) | +8.9% | | Basic Loss Per Share (HK cents) | (4.53) | (5.76) | -21.4% | [Consolidated Statement of Changes in Equity](index=4&type=section&id=Unaudited%20Condensed%20Consolidated%20Statement%20of%20Changes%20in%20Equity) The Group's total equity decreased during the period primarily due to the recorded loss Summary of Changes in Equity | Item | As at April 1, 2017 (HK$ '000) | Loss for the period (HK$ '000) | As at June 30, 2017 (HK$ '000) | | :--- | :--- | :--- | :--- | | Total | 52,441 | (9,055) | 43,386 | [Notes to the Financial Statements](index=5&type=section&id=Notes%20to%20the%20Financial%20Statements) The notes detail the company's business, revenue composition, and a significant post-period litigation - The company is an investment holding company whose subsidiaries are principally engaged in providing house improvement solution services in Hong Kong, including interior fitting-out for new buildings and renovation for existing buildings[9](index=9&type=chunk) Segment Revenue Breakdown (For the three months ended June 30) | Business Segment | 2017 (HK$ '000) | 2016 (HK$ '000) | YoY Change | | :--- | :--- | :--- | :--- | | Fitting-out projects | 19,669 | 3,446 | +470.8% | | Renovation projects | 8,938 | 15,472 | -42.2% | | **Total** | **28,607** | **18,918** | **+51.2%** | - The Board of Directors does not recommend the payment of any dividend for the period[27](index=27&type=chunk) - A controlling shareholder filed a winding-up petition against the company in July 2017, leading to the appointment of provisional liquidators; **the action was subsequently withdrawn by consent in April 2019**[32](index=32&type=chunk)[34](index=34&type=chunk) [Management Discussion and Analysis](index=12&type=section&id=Management%20Discussion%20and%20Analysis) [Business Review](index=12&type=section&id=Business%20Review) The company secured four new projects during the quarter, demonstrating its market competitiveness - During the quarter, the company submitted tenders with a total value of approximately HK$214.6 million and was **successfully awarded 4 projects with a total contract sum of approximately HK$59.4 million**[36](index=36&type=chunk) - The awarded projects include a fitting-out project for a large-scale residential development in Shatin with a **contract sum of approximately HK$58.0 million**[36](index=36&type=chunk) [Financial Review](index=12&type=section&id=Financial%20Review) Revenue growth was offset by higher costs and expenses stemming from a shareholder dispute, resulting in a wider loss - **Overall revenue increased by 51.3% YoY**, primarily driven by a significant 470.8% increase in revenue from fitting-out projects[37](index=37&type=chunk) - **Cost of services increased by 72.3% YoY**, outpacing revenue growth due to additional project rectification costs arising from the freezing of bank accounts amid a shareholder dispute[40](index=40&type=chunk) - **Administrative expenses rose by 85.1% YoY**, mainly due to approximately HK$2.9 million in professional fees incurred in relation to the shareholder dispute[42](index=42&type=chunk) - Impacted by rising costs, **gross profit decreased by 64.7%**, and loss attributable to owners widened from HK$8.3 million to HK$9.0 million[41](index=41&type=chunk)[43](index=43&type=chunk) [Prospects and Outlook](index=14&type=section&id=Prospects%20and%20Outlook) Management remains confident in the market and will leverage its competitive strengths to pursue new opportunities - The company's competitive advantages include long-term relationships with major customers, a robust supplier network, integrated project execution capabilities, and an experienced management team[45](index=45&type=chunk) - The Group will continue to focus on renovation and fitting-out works in Hong Kong, particularly opportunities from Mainland property developers[45](index=45&type=chunk) [Other Disclosures](index=14&type=section&id=Other%20Disclosures) [Directors' and Shareholders' Interests](index=14&type=section&id=Directors'%20and%20Shareholders'%20Interests) The company was controlled by two major shareholders holding a combined 75% interest Major Shareholders' Interests (as of June 30, 2017) | Shareholder Name | Holding Entity | Number of Shares | Approximate Shareholding Percentage | | :--- | :--- | :--- | :--- | | Chan Siu Chung | Acropolis Limited | 76,500,000 | 38% | | Liu Zhangqian | W & Q Investment Limited | 73,500,000 | 37% | [Shareholder Dispute and Suspension of Trading](index=16&type=section&id=Shareholder%20Dispute%20and%20Suspension%20of%20Trading) A shareholder dispute led to a prolonged trading suspension, with resumption subject to fulfilling several conditions - Controlling shareholder Acropolis Limited initiated legal action and filed a winding-up petition against the company and other shareholders in July 2017[51](index=51&type=chunk) - The shareholder dispute was **settled in March 2019**, the winding-up petition was withdrawn in April 2019, and the provisional liquidators were discharged[51](index=51&type=chunk) - Trading in the company's shares has been **suspended since June 12, 2017**; the Stock Exchange has set five resumption conditions, two of which (a validly appointed board, withdrawal of the petition) have been met[67](index=67&type=chunk)[68](index=68&type=chunk)[69](index=69&type=chunk) [Corporate Governance](index=18&type=section&id=Corporate%20Governance%20Practices) The company deviated from several Corporate Governance Code provisions during the reporting period - The company had deviations from the Corporate Governance Code, including: - The roles of chairman and chief executive officer were not separate (Code A.2.1) - The chairman did not hold meetings with the independent non-executive directors without the presence of other executive directors (Code A.2.7) - A 14-day notice for regular board meetings was not guaranteed (Code A.1.3) - No annual general meeting was held during the period (Code E.1.2)[60](index=60&type=chunk)[62](index=62&type=chunk)[63](index=63&type=chunk)[64](index=64&type=chunk)

AESO HOLDING LIMITED 2019 年報 ANNUAL REPORT 2019 年報 AESO HOLDING LIMITED 艾碩控股有限公司 香港聯合交易所有限公司（「聯交所」）GEM 之特色 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。 香港交易及結算所有限公司以及香港聯合交易所有限公司對本年報之內容概不負責，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年報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。 本年報的資料乃遵照GEM 證券上市規則（「GEM 上市規則」）而刊載，旨在提供有關艾碩控股有限公司（「本公 司」）的資料。本公司董事（「董事」）願就本年報共同及個別地承擔全部責任，並在作出一切合理查詢後確認， 就彼等所深知及確信，本年報所載資料 ...

AESO HOLDING LIMITED 2018 年報 ANNUAL REPORT 2018 年報 AESO HOLDING LIMITED 艾碩控股有限公司 香港聯合交易所有限公司（「聯交所」）GEM 之特色 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。 香港交易及結算所有限公司以及香港聯合交易所有限公司對本年報之內容概不負責，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年報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。 本年報的資料乃遵照GEM 證券上市規則（「GEM 上市規則」）而刊載，旨在提供有關艾碩控股有限公司（「本公 司」）的資料。本公司董事（「董事」）願就本年報共同及個別地承擔全部責任，並在作出一切合理查詢後確認， 就彼等所深知及確信，本年報所載資料 ...

AESO HOLDING LIMITED 2017 年報 ANNUAL REPORT 2017 年報 AESO HOLDING LIMITED 艾碩控股有限公司 香港聯合交易所有限公司（「聯交所」）GEM 之特色 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。 香港交易及結算所有限公司以及香港聯合交易所有限公司對本年報之內容概不負責，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年報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。 本年報的資料乃遵照GEM 證券上市規則（「GEM 上市規則」）而刊載，旨在提供有關艾碩控股有限公司（「本公 司」）的資料。本公司董事（「董事」）願就本年報共同及個別地承擔全部責任，並在作出一切合理查詢後確認， 就彼等所深知及確信，本年報所載資料 ...