TM AL Group AL GROUP LIMITED 利 駿 集 團 ( 香 港 ) 有 限 公 司 (於開疊群島註冊成立的有限公司) 股份代號 : 8360 年 度 報 告 2021 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聯交所對本報告的內容概不負責，對其準確性或完整性亦不發表任何聲明，並 明確表示，概不就因本報告全部或任何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 本報告乃遵照香港聯合交易所有限公司GEM證券上市規則（「GEM上市規則」）而刊載，旨在提供有關利駿集團 （香港）有限公司（「本公司」）及其附屬公司（統稱「本集團」）的資料，本公司的董事（「董事」）願就本報告共同及 個別承擔全部責任。董事在作出一切 ...

Financial Performance - For the nine months ended September 30, 2021, total revenue increased by approximately 40.4% to HKD 63.1 million compared to HKD 44.8 million in the same period of 2020[10]. - The gross profit for the same period was approximately HKD 12.5 million, representing a 42.1% increase from HKD 8.8 million in 2020, with a gross margin of 19.9%[12]. - The company recorded a loss attributable to owners of approximately HKD 12.9 million, a significant improvement from a loss of HKD 31.7 million in the same period of 2020[14]. - The adjusted EBITDA for the nine months was approximately -HKD 7.9 million, compared to -HKD 7.2 million in 2020[14]. - The total operating expenses increased to approximately HKD 22.8 million from HKD 19.4 million in the previous year[14]. - The company reported a loss before tax of HKD 13.58 million for the nine months ended September 30, 2021, compared to a loss of HKD 33.75 million for the same period in 2020[24]. - The basic loss per share for the nine months ended September 30, 2021, was HKD (9.92), compared to HKD (45.28) for the same period in 2020, indicating an improvement in performance[34]. - The company reported a total comprehensive expense of HKD 13,495,000 for the nine months ended September 30, 2021, down from HKD 34,572,000 in the same period of 2020, a reduction of about 61%[34]. Revenue Sources - The revenue from commercial projects surged by 868.4% to HKD 18.4 million, while revenue from residential projects increased by 111.1% to HKD 5.7 million[6]. - The design and renovation segment generated revenue of HKD 22,676,000 for the three months ended September 30, 2021, compared to HKD 2,732,000 in the same period of 2020, marking an increase of about 730%[34]. - The company’s revenue from maintenance and after-sales services increased to HKD 590,000 for the nine months ended September 30, 2021, from HKD 294,000 in the same period of 2020, representing a growth of approximately 100%[34]. Project and Operational Changes - The number of projects decreased by 29.2% to 34 projects, while the average revenue per project increased by 100.0% to approximately HKD 1.8 million[4][7]. - The number of office projects decreased by 52.8% to 17, while the number of commercial projects increased to 10 from 5[4]. - The company continues to focus on large-scale projects, which have contributed to revenue growth and improved gross margins[12]. Share and Capital Management - The company completed a share consolidation, merging every ten existing shares into one, resulting in a total issued share capital of HKD 100 million, divided into 1 billion shares with a par value of HKD 0.10 each[15]. - The company raised approximately HKD 71.96 million through a rights issue, issuing 266,520,000 shares at a subscription price of HKD 0.27 per share[15]. - The weighted average number of ordinary shares increased from 69,937,000 in the nine months ended September 30, 2020, to 130,209,000 in the same period of 2021 due to a share consolidation[41]. Financial Position - As of September 30, 2021, the company had cash and cash equivalents of approximately HKD 29.8 million, up from HKD 24.6 million as of December 31, 2020[15]. - The total liabilities of the group were approximately HKD 99.7 million as of September 30, 2021, a decrease from HKD 111.6 million as of December 31, 2020[16]. - The debt-to-asset ratio was 12.5% as of September 30, 2021, significantly improved from 75.0% as of December 31, 2020[18]. Governance and Compliance - The company complied with all corporate governance codes as per GEM listing rules, except for one specific provision[56]. - The audit committee, established on June 15, 2016, consists of three independent non-executive directors and is responsible for reviewing financial statements and overseeing internal control procedures[61]. - The audit committee has reviewed the unaudited financial information and third-quarter report for the nine months ending September 30, 2021[61]. Tax and Other Income - The estimated tax expense for the nine months ended September 30, 2021, was HKD (72,000), compared to HKD 7,000 in the same period of 2020, indicating a tax reduction[39]. - The company has not incurred any tax liabilities in the Cayman Islands or British Virgin Islands, maintaining a favorable tax position[39]. - Other income for the nine months ended September 30, 2021, included dividend income of HKD 31,000, compared to HKD 900,000 in the same period of 2020, showing a decrease of approximately 96%[35].

Financial Performance - Total revenue for the six months ended June 30, 2021, was approximately HKD 40.3 million, a decrease of about 4.0% compared to HKD 41.9 million in the same period of 2020[10] - Gross profit for the same period was approximately HKD 9.1 million, an increase of about 8.3% from HKD 8.4 million in 2020, with a gross margin rising from 20.0% to 22.5%[13] - Adjusted EBITDA for the period was (HKD 7.1 million), compared to (HKD 2.3 million) in the same period of 2020[10] - The company reported a loss attributable to owners of the company of (HKD 10.4 million) for the six months ended June 30, 2021, compared to (HKD 25.0 million) in 2020[10] - Revenue for the three months ended June 30, 2021, was HKD 22,426 thousand, representing a 47.5% increase from HKD 15,176 thousand in the same period of 2020[33] - Total comprehensive loss for the six months ended June 30, 2021, was HKD 11,019 thousand, compared to HKD 27,088 thousand in the same period of 2020[35] - Basic loss per share for the six months ended June 30, 2021, was HKD (0.12), compared to HKD (0.40) for the same period in 2020[35] - The company reported a basic loss attributable to owners of approximately HKD 10,405,000 for the six months ended June 30, 2021, compared to a loss of HKD 25,028,000 for the same period in 2020, representing a 58.4% improvement[69] Project and Operational Metrics - The number of projects completed decreased by 31.6% to 26 projects in 2021 from 38 projects in 2020, primarily due to project delays and the ongoing negative impact of COVID-19[5] - Average revenue per project increased by approximately 36.4% to about HKD 1.5 million in 2021 from HKD 1.1 million in 2020[8] - The number of office projects decreased by 63.6% to 12 in 2021, while commercial projects increased by 133.3% to 7, and residential projects increased by 250.0% to 7[5] - The company continues to focus on larger projects, which have helped maintain competitive advantages and business growth despite the unstable business environment[13] Expenses and Liabilities - Total operating expenses for the six months ended June 30, 2021, were approximately HKD 18.2 million, up from HKD 12.9 million in 2020, mainly due to increased employee benefits and advertising costs[13] - The adjusted EBITDA for the six months ended June 30, 2021, was approximately -7.1 million HKD, compared to -2.3 million HKD for the same period in 2020, primarily due to the combined effects of an overall increase in gross profit and total operating expenses[14] - Total liabilities as of June 30, 2021, were approximately 120.5 million HKD, an increase from approximately 111.6 million HKD as of December 31, 2020[16] - The debt-to-asset ratio as of June 30, 2021, was 78.4%, up from 75.0% as of December 31, 2020, primarily due to an increase in the carrying amount of promissory notes[16] Cash Flow and Equity - As of June 30, 2021, the group had cash and cash equivalents of approximately 12.0 million HKD, down from approximately 24.6 million HKD as of December 31, 2020[16] - The current ratio as of June 30, 2021, was approximately 0.7, compared to 1.3 as of December 31, 2020[16] - The company reported a net cash outflow from operating activities of HKD 12,105,000 compared to a net inflow of HKD 1,255,000 in the same period of 2020[43] - The company’s total equity attributable to owners was HKD (23,999,000), a decrease from HKD (14,393,000) at the beginning of the period[41] Share Capital and Issuance - The company issued 266,520,000 new shares at a subscription price of HKD 0.27 per share, which was approved by shareholders on August 10, 2021[48] - The company's issued and paid-up share capital increased to 888,400,000 shares as of June 30, 2021, from 872,400,000 shares as of December 31, 2020[91] - The company proposed a share consolidation of every ten existing shares into one consolidated share with a nominal value of HKD 0.1[93] - The company also proposed a rights issue of three shares for every one consolidated share held at a subscription price of HKD 0.27 per rights share[93] Acquisitions and Investments - The group completed the acquisition of YTO Limited for a total consideration of 4,480,000 HKD, paid through the issuance of 112,000,000 shares, representing approximately 15.84% of the enlarged issued share capital[28] - The identifiable net assets acquired from YTO amounted to HKD 1,349,000, with total assets including property, plant, and equipment of HKD 5,615,000 and total liabilities of HKD 4,266,000[106] - Cash and cash equivalents acquired from YTO were HKD 1,436,000, contributing to a net cash inflow of HKD 1,436,000 from the acquisition[107] Marketing and Strategic Plans - The company plans to expand its operations and has proposed a rights issue to strengthen its capital base[48] - The company plans to expand its market coverage and has relocated its office to Kwun Tong, enhancing its image with innovative designs[126] - The company continues to invest in marketing efforts, including advertising in MTR stations and donations to charities to enhance its corporate image[140] Corporate Governance and Compliance - The board believes the company has complied with all corporate governance codes as per GEM listing rules during the six months ending June 30, 2021[160] - The company has adopted a code of conduct for directors regarding securities trading, confirming compliance for the six months ending June 30, 2021[161] - An audit committee was established on June 15, 2016, consisting of three independent non-executive directors, responsible for reviewing financial statements and overseeing internal control procedures[164]

Financial Performance - Total revenue for the three months ended March 31, 2021, decreased by approximately 33.1% to about HKD 17.8 million compared to HKD 26.6 million in the same period of 2020[9]. - The number of projects decreased by approximately 46.2%, from 26 projects in 2020 to 14 projects in 2021[5]. - The average revenue per project increased by 24.5%, from approximately HKD 1.02 million in 2020 to approximately HKD 1.27 million in 2021[7]. - Gross profit for the three months ended March 31, 2021, was approximately HKD 3.4 million, a decrease of about 21.5% from HKD 4.3 million in 2020[12]. - The gross profit margin increased from approximately 16.0% in 2020 to approximately 18.8% in 2021[12]. - Adjusted EBITDA for the three months ended March 31, 2021, was approximately -HKD 4.4 million, compared to -HKD 1.8 million in the same period of 2020[12]. - The loss attributable to owners of the company for the three months ended March 31, 2021, was approximately HKD 5.9 million, compared to a loss of approximately HKD 3.9 million in 2020[12]. - The operating loss for the three months ended March 31, 2021, was HKD 4,868 thousand, compared to an operating loss of HKD 3,370 thousand for the same period in 2020[20]. - The net loss for the period was HKD 6,257 thousand, compared to a net loss of HKD 4,601 thousand for the same period in 2020[20]. - The company reported a net loss attributable to shareholders of HKD 5,937,000 for the three months ended March 31, 2021, compared to a net loss of HKD 3,856,000 for the same period in 2020, representing an increase in loss of approximately 53.8%[35]. - The basic loss per share for the three months ended March 31, 2021, was HKD 0.67, compared to HKD 0.65 for the same period in 2020, indicating a slight increase in loss per share[35]. Operating Expenses and Liabilities - Operating expenses for the three months ended March 31, 2021, increased to approximately HKD 8.7 million from HKD 7.1 million in 2020[12]. - Total liabilities as of March 31, 2021, were approximately HKD 117.6 million, an increase from HKD 111.6 million as of December 31, 2020[13]. - The debt-to-capital ratio was approximately 75.6% as of March 31, 2021, up from 75.0% as of December 31, 2020, primarily due to an increase in the book value of promissory notes[15]. Cash and Current Ratio - As of March 31, 2021, the group's cash and cash equivalents amounted to approximately HKD 17.6 million, down from HKD 24.6 million as of December 31, 2020[13]. - The current ratio as of March 31, 2021, was approximately 1.2, compared to 1.3 as of December 31, 2020[13]. Project and Service Revenue - The company experienced a significant decrease in the number of office projects, which fell by 59.1% from 22 in 2020 to 9 in 2021[5]. - The group’s main service revenue from design and renovation for the three months ended March 31, 2021, was HKD 17,780 thousand, down from HKD 26,632 thousand for the same period in 2020[29]. Share Options and Major Shareholders - The company has a share option scheme in place, which was approved on June 15, 2016, and aims to attract and retain talented personnel, with a term of 10 years[38]. - As of March 31, 2021, the company had a total of 8,000,000 shares available for issuance under the share option scheme, representing approximately 0.9% of the total issued shares[41]. - The company granted a total of 48,000,000 share options on October 9, 2020, with an exercise price of HKD 0.043 per share, while the closing price on the grant date was HKD 0.042[39]. - The company’s major shareholders include Climb Up Limited, which holds 115,000,000 shares, representing 12.94% of the issued voting shares[48]. Tax and Dividends - The company’s tax expense is calculated at a rate of 16.5% for Hong Kong profits tax, consistent with the previous year[32]. - The company did not declare any interim dividend for the three months ended March 31, 2021, consistent with the previous year[17]. Corporate Governance and Compliance - The company has adopted a code of conduct regarding securities trading by directors, which is not less stringent than the GEM Listing Rules[54]. - The audit committee has reviewed the unaudited financial information and the first-quarter report for the three months ended March 31, 2021[57]. - There were no arrangements made by the company or any related entities that would allow directors to benefit from acquiring shares or bonds of the company[42]. - The company and its subsidiaries did not enter into any arrangements that would allow directors or their associates to acquire securities of the company or its affiliates during the three months ended March 31, 2021[51]. - The board confirmed that there were no business activities directly or indirectly competing with the group during the three months ended March 31, 2021, except for the independent operation of ACE Architectural and Interior Design Limited[52]. - The company did not report any diluted loss per share for the three months ended March 31, 2021, due to the anti-dilutive effect of share options[36]. - As of March 31, 2021, the company did not receive any notifications regarding interests or short positions in its shares that require disclosure under the Securities and Futures Ordinance[49].

Financial Performance - The total revenue for the year was approximately HKD 67.1 million, a decrease of about 53.0% compared to 2019[11]. - The average revenue per project (excluding maintenance and after-sales services) decreased by approximately 54.1% to about HKD 1.02 million[11]. - The gross profit for the year was approximately HKD 15.1 million, down about 16.8% from 2019, with a gross margin increase from approximately 12.7% in 2019 to about 22.6% in 2020[11]. - The loss attributable to the owners of the company was approximately HKD 38.0 million, a decrease of about 32.6% compared to 2019[12]. - The company's revenue for the year ended December 31, 2020, was approximately HKD 67.1 million, a decrease of about 53.0% compared to HKD 142.7 million in 2019[31]. - The gross profit for the year was approximately HKD 15.1 million, down about 16.8% from HKD 18.2 million in 2019, with a gross margin increase from 12.7% to 22.6%[33]. - The average revenue per project decreased by approximately 54.1% to about HKD 1.02 million, compared to HKD 2.22 million in 2019[26]. - The company reported a loss attributable to shareholders of HKD 38.0 million for the year, an improvement from a loss of HKD 56.4 million in 2019[31]. - Adjusted EBITDA for the year was approximately -HKD 15.6 million, compared to -HKD 14.8 million in 2019, primarily due to a decline in total revenue[35]. - The loss attributable to the company's owners was approximately HKD 38.0 million, a reduction of about 32.6% from HKD 56.4 million in 2019[35]. Project and Market Development - The company has secured several projects valued at approximately HKD 77.6 million, which are yet to commence as of the report date[12]. - The number of completed and ongoing projects increased by 1.6% to 65 projects in 2020, compared to 64 projects in 2019[24]. - The company secured projects valued at approximately HKD 77.6 million that are expected to contribute to total revenue in 2021 and beyond[27]. - The number of residential projects increased significantly by 300% to 16 in 2020, compared to 4 in 2019[24]. - The company remains optimistic about the future development of the interior design and renovation industry in Hong Kong, anticipating growth as the political environment stabilizes and the economy recovers[21]. - The company plans to explore new business lines and expand its core business into different markets to maintain growth and enhance its reputation[30]. - The company has expanded its market coverage by relocating its office to Kwun Tong and enhancing its image through innovative design[47]. - The company plans to expand its market presence in Southeast Asia, targeting a 25% increase in market share within the next two years[96]. Cost Management and Operational Efficiency - The management has implemented extensive cost control measures to mitigate the impact of the pandemic on operations[10]. - The company will continue to implement cost control measures and negotiate with contractors to improve profitability amid challenging economic conditions[33]. - The group's total operating expenses for the year were approximately HKD 36.8 million, a decrease of about 0.5% from HKD 37.0 million in 2019[35]. - The total employee cost for the year was approximately HKD 18.5 million, a decrease from HKD 20.9 million in the previous year due to salary adjustments related to reduced revenue[76]. Corporate Governance and Management - The company has a strong commitment to environmental compliance, monitoring subcontractors to adhere to relevant laws and regulations[105]. - The board consists of six directors, including three executive directors and three independent non-executive directors, ensuring compliance with GEM listing rules[177]. - The company is committed to maintaining good corporate governance practices, which are considered essential for managing business risks and achieving success[175]. - The board has a clear division of responsibilities, with the chairman focusing on effective leadership and the CEO responsible for formulating corporate strategies[182]. - The company has established a robust internal control system to review corporate governance practices and significant investments[182]. - All independent non-executive directors have issued annual confirmations of their independence according to GEM Listing Rule 5.09, and the company believes they all meet the independence guidelines[196]. Future Outlook and Strategic Initiatives - The demand for interior design services is expected to increase due to the COVID-19 pandemic, with a focus on adapting work environments to new safety protocols[16]. - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 12%[92]. - New product development initiatives are underway, with an investment of HKD 50 million allocated for R&D in innovative design solutions[95]. - A strategic acquisition of a local design firm is expected to enhance service offerings and increase operational capacity by 30%[95]. - The company has implemented new sustainability strategies, aiming for a 40% reduction in carbon footprint by 2025[96]. Shareholder and Financial Management - The company focuses on maximizing shareholder returns while ensuring sustainable profit growth and considering business development needs[114]. - The company did not recommend a final dividend for the year, consistent with the previous year[119]. - The company has allocated sufficient resources and training to ensure compliance with applicable laws and regulations, with no significant violations reported during the year[109]. - The company has not entered into any equity-linked agreements during the year that would lead to the issuance of new shares[124]. - The company had cash and cash equivalents of approximately HKD 24.6 million as of December 31, 2020, compared to HKD 22.1 million as of December 31, 2019[58]. - The current ratio as of December 31, 2020, was approximately 1.3 times, down from 1.4 times in the previous year[58]. - The total liabilities amounted to approximately HKD 111.6 million as of December 31, 2020, compared to HKD 116.5 million in the previous year[58]. - The capital debt ratio increased to approximately 75.0% as of December 31, 2020, from 51.2% the previous year, primarily due to losses incurred during the year[59]. Employee and Talent Management - The company aims to attract top talent and continue to implement COVID-safe measures and technologies in the coming year[16]. - The group had 40 employees as of December 31, 2020, compared to 39 employees a year earlier[76]. - The company has a stock option plan effective from July 12, 2016, for a duration of 10 years, aimed at attracting and retaining qualified personnel[149][150]. - A total of 48,000,000 stock options were granted on October 9, 2020, with an exercise price of HKD 0.043 per share[151].

TM AL GROUP LIMITED 利 駿 集 團 ( 香 港 ) 有 限 公 司 Incorporated in the Cayman Islands with limited liability 於開曼群島註冊成立的有限公司 Stock Code 股份代號：8360 2020 THIRD QUARTERLY REPORT 第三季度報告 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聯交所上市的公 司帶有較高投資風險。準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的證券承受較 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聯交所對本報告的內容概不負責，對其準確性或完整性亦不發 表任何聲明，並明確表示，概不就因本報告全部或任何部分內容而產生或因依賴該等內容而 引致的任何損失承擔任何責任。 本報告乃遵照香港聯合交易所有限公司GEM證券上市規則（「GEM上市規則」）而刊載，旨在提供 ...

Financial Performance - Total revenue for the six months ended June 30, 2020, was approximately HKD 41.9 million, a decrease of about 17.1% compared to HKD 50.6 million in the same period of 2019[12] - Gross profit for the same period was HKD 8.4 million, an increase from HKD 7.8 million in 2019, resulting in a gross margin of approximately 20.0%, up from 15.4%[12] - The company experienced a net loss attributable to owners of HKD 25.0 million for the period, compared to a loss of HKD 7.3 million in 2019[12] - Adjusted EBITDA for the six months ended June 30, 2020, was approximately HKD -2.3 million, an improvement from HKD -5.2 million in the same period of 2019, driven by an increase in overall gross profit and a decrease in total operating expenses[14] - The total comprehensive loss for the six months ended June 30, 2020, was HKD 27,088,000, compared to HKD 8,868,000 in 2019, reflecting a significant increase in losses[35] - The group reported a loss attributable to owners of the company of HKD 21,172,000 for the six months ended June 30, 2020, compared to a loss of HKD 4,363,000 in the same period of 2019[34] - The company reported a net loss of approximately HKD 26,438,000 for the six months ended June 30, 2020[49] - The group reported a net loss of HKD 18,652,000 for the six months ended June 30, 2020, compared to a loss of HKD 19,341,000 in the same period of 2019[58] Revenue and Projects - The number of projects completed decreased by 9.5% to 38 projects, down from 42 projects in the previous year[8] - Average revenue per project decreased by 8.3% to approximately HKD 1.1 million, compared to HKD 1.2 million in 2019[8] - The company secured contracts totaling over HKD 82.6 million, with some projects expected to commence in the third quarter of 2020[8] - The group reported a revenue of HKD 15,176,000 for the three months ended June 30, 2020, compared to HKD 15,893,000 for the same period in 2019, representing a decrease of approximately 4.5%[34] - For the six months ended June 30, 2020, the revenue was HKD 41,925,000, down from HKD 50,564,000 in 2019, indicating a decline of about 17.0%[34] - The group's revenue from design and renovation management services for the six months ended June 30, 2020, was HKD 41,925,000, a decrease of 17% compared to HKD 50,564,000 for the same period in 2019[55] Expenses and Costs - Total operating expenses for the six months ended June 30, 2020, were approximately HKD 12.9 million, a decrease from HKD 14.8 million in the same period of 2019, primarily due to reduced employee benefits and legal/professional fees[14] - Employee benefits expenses for the six months ended June 30, 2020, were approximately HKD 8,847,000, down from HKD 9,769,000 in the same period of 2019, showing a reduction of about 9.4%[34] - The total other operating expenses for the six months ended June 30, 2020, amounted to HKD 4,052,000, a decrease from HKD 4,764,000 in the same period of 2019[60] - The financial cost for the six months ended June 30, 2020, was HKD 2,593,000, compared to HKD 2,166,000 in 2019, indicating an increase of approximately 19.0%[34] Assets and Liabilities - The group had cash and cash equivalents of approximately HKD 25.1 million as of June 30, 2020, compared to HKD 22.1 million as of December 31, 2019[18] - The current ratio as of June 30, 2020, was approximately 1.3 times, down from 1.4 times as of December 31, 2019[18] - Total liabilities as of June 30, 2020, were approximately HKD 117.0 million, an increase from HKD 116.5 million as of December 31, 2019[18] - The debt-to-asset ratio as of June 30, 2020, was 62.9%, up from 51.2% as of December 31, 2019, primarily due to a decrease in total assets[18] - As of June 30, 2020, the total assets amounted to HKD 90,637,000, a decrease from HKD 95,344,000 as of December 31, 2019[37] - The company's equity attributable to owners was negative HKD 8,814,000 as of June 30, 2020, compared to positive HKD 14,411,000 at the end of 2019[38] - The total liabilities exceeded total assets by HKD 17,636,000 as of June 30, 2020[49] Impairment and Investments - The company confirmed an impairment of approximately HKD 17.3 million related to its investment in the Primo Group for the six months ended June 30, 2020, compared to no impairment in the same period of 2019[15] - The group incurred a loss of HKD 17,325,000 related to impairment losses on joint ventures for the six months ended June 30, 2020[58] - The company held significant investments amounting to approximately HKD 1.3 million in equity investments as of June 30, 2020[26] Corporate Governance and Management - The board did not declare any interim dividend for the six months ended June 30, 2020, consistent with the previous year[23] - The company is implementing strict measures to manage costs and expenses amid financial challenges[49] - The company is considering alternative financing and bank loans to meet its financial obligations and future capital expenditures[49] - The company has a stock option plan that was approved on June 15, 2016, and is effective for 10 years, aiming to attract and retain competent personnel[117] - The audit committee was established on June 15, 2016, and consists of three independent non-executive directors[129] - The audit committee's main responsibilities include recommending the appointment and dismissal of external auditors and reviewing financial statements[129] Shareholder Information - Major shareholders as of June 30, 2020, include Mr. Sun Fulin with 144,000,000 shares (20.37%), Climb Up Limited with 115,000,000 shares (16.27%), and Mr. Huang Yuqi with 115,000,000 shares (16.27%)[124] - The company has not entered into any arrangements that would allow directors or their associates to benefit from acquiring securities of the company or its affiliates during the six months ending June 30, 2020[125]

TM AL Group AL GROUP LIMITED 利 駿 集 團 ( 香 港 ) 有 限 公 司 Incorporated in the Cayman Islands with limited liability 於開曼群島註冊成立的有限公司 Stock Code 股份代號：8360 ummy a FIRST QUARTERLY REPORT 2020 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聯交所上市的公 司帶有較高投資風險。準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的證券承受較 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聯交所對本報告的內容概不負責，對其準確性或完整性亦不發 表任何聲明，並明確表示，概不就因本報告全部或任何部分內容而產生或因依賴該等內容而 引致的任何損失承擔任何責任。 本報告乃遵照香港聯合交易所有限公司GEM證券上市規則而刊載，旨在提供有關 ...

Financial Performance - Total revenue for the year was approximately HKD 142.7 million, a decrease of about 12.1% compared to 2018[13] - The average revenue per project (excluding maintenance and after-sales services) decreased by approximately 16.2% to about HKD 2.22 million[13] - Gross profit for the year was approximately HKD 18.2 million, down about 7.4% from 2018, with a gross margin increase from approximately 12.1% in 2018 to about 12.7% in 2019[13] - The company recorded a loss attributable to owners of approximately HKD 56.4 million, an increase of about 60.5% compared to 2018[14] - The main reasons for the loss included a decrease in revenue, increased operating expenses, and impairment losses on interests in associates and goodwill[14] - The adjusted EBITDA for the year was a loss of HKD 14.8 million, worsening from a loss of HKD 13.6 million in the previous year[29] - The company incurred a loss attributable to shareholders of HKD 56.4 million, compared to a loss of HKD 35.2 million in 2018[29] - Total operating expenses for the year were approximately HKD 37.0 million, an increase of about 5.4% from HKD 35.1 million in 2018[33] - The adjusted EBITDA for the year was approximately -HKD 14.8 million, compared to -HKD 13.6 million in 2018, due to increased operating expenses and a decline in total revenue[33] - The group recorded a loss attributable to the company's owners of approximately HKD 56.4 million, an increase of about 60.5% from approximately HKD 35.2 million in 2018[34] Project and Revenue Outlook - The company has several projects valued at approximately HKD 72.6 million that are expected to contribute to total revenue in 2020 and beyond[14] - The company continues to secure projects from existing and new clients, leveraging its strong reputation and industry experience[14] - The company aims to explore new business lines and expand its core business into different markets to maintain growth and enhance its reputation[28] - The company remains optimistic about the future development of the interior design and renovation industry in Hong Kong, despite current economic and political challenges[22] - The company plans to continue developing existing projects and open new revenue opportunities as economic activities gradually return to normal[18] Financial Position and Cash Flow - As of December 31, 2019, the company had a net cash and cash equivalents of approximately HKD 22.1 million, an increase from HKD 20.7 million as of December 31, 2018[54] - The current ratio as of December 31, 2019, was approximately 1.4 times, down from 1.8 times as of December 31, 2018[54] - Total liabilities as of December 31, 2019, were approximately HKD 116.5 million, compared to HKD 105.3 million as of December 31, 2018[54] - The capital debt ratio as of December 31, 2019, was approximately 688.3%, an increase from 66.9% as of December 31, 2018, primarily due to losses incurred during the year[54] Corporate Governance and Compliance - The board of directors is committed to maintaining good corporate governance practices and believes it is essential for managing business risks and leading the company to success[161] - The company has complied with all corporate governance codes as per GEM listing rules Appendix 15 during the year[162] - The board consists of six directors, including three executive directors and three independent non-executive directors[167] - Independent non-executive directors confirmed their independence according to GEM listing rules[128] - The company has established procedures for directors to seek independent professional advice when necessary[170] Employee and Talent Management - The total employee cost for the year was approximately HKD 20.9 million, an increase from HKD 20.3 million in the previous year, primarily due to enhanced compensation packages to retain talent[71] - The group values employee talent as its most valuable asset and provides a harmonious work environment to foster creativity[107] - The company has a stock option plan effective from July 12, 2016, for a duration of 10 years, aimed at attracting and retaining competent personnel[143] Strategic Initiatives and Investments - The company raised approximately HKD 57.0 million from its IPO, with 100% of the net proceeds allocated to various strategic initiatives[53] - 27% of the net proceeds from the IPO, amounting to HKD 15.225 million, were allocated to recruiting high-quality talent and strengthening company capabilities[53] - The company is investing $HH million in research and development to advance its product line and improve operational efficiency[84] Market and Competitive Landscape - The company faced challenges due to intense competition and the impact of social unrest in Hong Kong, affecting revenue projections for Primo[37] - The group has faced risks related to the inability to secure new contracts, which could significantly impact financial performance[111] Social Responsibility and Community Engagement - The company received multiple awards for corporate social responsibility, including the "Caring Company" logo from the Hong Kong Council of Social Service[16] - The group made charitable and other donations amounting to zero HKD in the current year, compared to 40,000 HKD in 2018[121]

AL Group Incorporated in the Cayman Islands with limited liability 於開曼群島註冊成立的有限公司 Stock Code 股份代號：8360 2019 THIRD QUARTERLY REPORT 第三季度報告 TM 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聯交所上市的公 司帶有較高投資風險。準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的證券承受較 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聯交所對本報告的內容概不負責，對其準確性或完整性亦不發 表任何聲明，並明確表示，概不就因本報告全部或任何部分內容而產生或因依賴該等內容而 引致的任何損失承擔任何責任。 本報告乃遵照香港聯合交易所有限公司GEM證券上市規則（「GEM上市規則」）而刊載，旨在提供 有關利駿集團（香港）有限公司（「本公司」）及其附屬公司（統稱「 ...