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。 HARBOUR EQUINE HOLDINGS LIMITED 維 港 育 馬 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：8377） 截至二零二三年九月三十日止九個月的季度業績公告 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。有意投資的人士應了解投資於該等公 司的潛在風險，並應經過審慎周詳的考慮後方作出投資決定。 由於GEM上市公司普遍為中小型公司，在GEM買賣的證券可能會較於主板買 賣之證券承受較大的市場波動風險，同時無法保證在GEM買賣的證券會有高 流通量的市場。 本公告（維港育馬控股有限公司（「本公司」）董事（「董事」）共同及個別對此負全 責）乃遵照《聯交所GEM證券上市規則》（「GEM上市規則」）的規定而提供有關本 公司的資料。董事經作出一切合理查詢後確認，就彼 ...

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，概不對因本公告全部或任何部分內容而產生或 因倚賴該等內容而引致之任何損失承擔任何責任。 HARBOUR EQUINE HOLDINGS LIMITED 維 港 育 馬 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：8377） 有關截至二零二二年十二月 三十一日止年度之 年報之補充公告 茲提述維港育馬控股有限公司（「本公司」，連同其附屬公司統稱「本集團」）於 二零二三年三月二十九日所刊發之截至二零二二年十二月三十一日止年度之 年報（「年報」）。除文義另有所指外，本公告所用詞彙與年報所界定者具有相同 涵義。 有關購股權計劃之補充資料 除年報所披露的資料外，下文載列有關於二零二三年二月八日採納的購股權 計劃及於二零二三年二月八日終止的舊購股權計劃的若干補充資料： (1) 於二零二二年一月一日及二零二二年十二月三十一日，根據計劃授權 ...

香港交易及結算所有限公司及聯交所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，並明確表示概不會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。 HARBOUR EQUINE HOLDINGS LIMITED 維 港 育 馬 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：8377） 截至二零二三年六月三十日止六個月的 中期業績公告 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。有意投資的人士應了解投資於該等公 司的潛在風險，並應經過審慎周詳的考慮後方作出投資決定。 由於GEM上市公司普遍為中小型公司，在GEM買賣的證券可能會較於主板買 賣之證券承受較大的市場波動風險，同時無法保證在GEM買賣的證券會有高 流通量的市場。 本公告乃遵照聯交所GEM證券上市規則（「GEM上市規則」）而刊載，旨在提供 有關維港育馬控股有限公司（「本公司」）的資料；本公司的董事（「董事」）願就 ...

Financial Performance - Revenue for the three months ended March 31, 2023, was approximately HK$13.6 million, a decrease from HK$15.9 million in the same period of 2022, representing a decline of about 14.6%[8] - Loss after taxation for the three months ended March 31, 2023, amounted to approximately HK$6.8 million, compared to a loss of HK$5.8 million in the same period of 2022, indicating an increase in loss of about 17.2%[9] - Basic and diluted loss per share for the three months ended March 31, 2023, was approximately HK1.67 cents, compared to HK1.42 cents for the same period in 2022, reflecting an increase of about 17.6%[9] - Gross profit for the three months ended March 31, 2023, was HK$332,000, significantly down from HK$2.0 million in the same period of 2022, marking a decrease of approximately 83.6%[9] - Other income and gains for the three months ended March 31, 2023, were HK$523,000, down from HK$1.2 million in the same period of 2022, a decline of about 57.7%[9] - Total comprehensive loss for the period was HK$7.8 million, compared to HK$5.6 million in the same period of 2022, representing an increase of approximately 39.6%[10] - The company reported a nominal value of issued ordinary share capital of HK$60,000,000 for Tseyu International Trading Company Limited, with 100% equity attributable to the company[20] - The company reported a loss for the period of HK$6,813,000 for the three months ended March 31, 2023, compared to a loss of HK$5,806,000 for the same period in the previous year[12] Expenses and Costs - Selling and distribution expenses decreased to HK$1.0 million for the three months ended March 31, 2023, from HK$1.4 million in the same period of 2022, a reduction of about 26.6%[9] - Administrative expenses decreased to HK$5.1 million for the three months ended March 31, 2023, from HK$7.0 million in the same period of 2022, a decrease of approximately 27.2%[9] - Finance costs increased significantly to HK$1.0 million for the three months ended March 31, 2023, compared to HK$134,000 in the same period of 2022, an increase of about 645.5%[9] - The cost of inventories sold decreased to HK$8,127,000 in Q1 2023, down 22.9% from HK$10,535,000 in Q1 2022[55] - The Group's employee benefit expenses (excluding directors' remuneration) decreased to HK$3,996,000 in Q1 2023, down 21.9% from HK$5,121,000 in Q1 2022[55] Segment Performance - Revenue from external customers for the manufacturing and selling of threads segment was HK$5,858,000, while the interior design segment generated HK$2,365,000, and the equine services segment contributed HK$5,385,000[36] - The total segment loss before tax for the three months ended March 31, 2023, was HK$6,813,000, compared to a loss of HK$5,806,000 for the same period in 2022, indicating a worsening financial performance[36] - The manufacturing segment reported a loss of HK$2,030,000, while the interior design segment achieved a profit of HK$492,000, and the equine services segment incurred a loss of HK$3,745,000[36] - Revenue from the manufacturing and selling of threads decreased to approximately HK$5.9 million, a decline of approximately 51.3% from HK$12.0 million in the same period last year[85] - Revenue from the interior design and decoration segment decreased to approximately HK$2.4 million, representing a decrease of approximately 38.5% from HK$3.8 million for the same period in 2022[88] - Revenue from equine services increased significantly to approximately HK$5.4 million, compared to approximately HK$74,000 for the same period in 2022, marking an increase of approximately HK$5.3 million[89] Equity and Share Capital - As of March 31, 2023, the total equity of the company is HK$60,155,000, a decrease from HK$67,928,000 as of January 1, 2023, reflecting a comprehensive loss for the period[12] - The accumulated losses increased to HK$106,539,000 as of March 31, 2023, compared to HK$99,726,000 as of January 1, 2023[12] - The company's issued ordinary share capital is HK$20,457,093, divided into 409,141,860 shares with a par value of HK$0.05 each[151] - The Group's major shareholder, Mr. Wong Kwok Wai, holds 120,000,000 ordinary shares, representing 29.33% of the issued share capital[139] Corporate Governance and Compliance - The company has adopted the corporate governance code as per GEM Listing Rules and believes in maintaining strong corporate governance practices[153][154] - The company complied with the code provisions of the corporate governance code for the three months ended March 31, 2023, except for a deviation from code provision A.2.1[155] - The Audit Committee reviewed the unaudited first quarterly results for the three months ended March 31, 2023[173] - The Audit Committee consists of three independent non-executive Directors, ensuring independence from previous auditors[173] Future Outlook and Strategy - The overall performance indicates a need for potential market expansion and new strategies to improve revenue generation[36] - The Group anticipates growth in its interior design and decoration services due to increasing demand in Hong Kong and the Greater Bay Area[71] - The Group aims to improve its business operations and financial position by seeking suitable investment opportunities[134] - The Group is focusing on further investments in promising stallion prospects in the competitive Australian bloodstock market[130] Miscellaneous - The company operates subsidiaries engaged in manufacturing and selling sewing threads and garment accessories, as well as providing various advisory and equine services[15] - The company was incorporated in the Cayman Islands and has its registered office in Grand Cayman[14] - The financial statements are unaudited for the period ended March 31, 2023[12] - The Group has faced difficulties in its principal business of manufacturing and selling sewing threads due to the COVID-19 pandemic and ongoing trade conflicts between China and the U.S., impacting financial position and cash flows[128]

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。 HARBOUR EQUINE HOLDINGS LIMITED 維 港 育 馬 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：8377） 截至二零二三年三月三十一日止三個月的季度業績公告 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。有意投資的人士應了解投資於該等公 司的潛在風險，並應經過審慎周詳的考慮後方作出投資決定。 由於GEM上市公司普遍為中小型公司，在GEM買賣的證券可能會較於主板買 賣之證券承受較大的市場波動風險，同時無法保證在GEM買賣的證券會有高 流通量的市場。 本公告（維港育馬控股有限公司（「本公司」）董事（「董事」）共同及個別對此負全 責）乃遵照《聯交所GEM證券上市規則》（「GEM上市規則」）的規定而提供有關本 公司的資料。董事經作出一切合理查詢後確認，就 ...

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依 賴該等內容而引致的任何損失承擔任何責任。 HARBOUR EQUINE HOLDINGS LIMITED 維 港 育 馬 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：8377） 截至二零二二年十二月三十一日止年度的 年度業績公告 香港聯合交易所有限公司GEM特點（「聯交所」） GEM的定位，乃為中小型公司提供一個上市的市場，此等公司相比起其他在 聯交所上市的公司帶有較高投資風險。有意投資的人士應了解投資於該等公 司的潛在風險，並應經過審慎周詳的考慮後方作出投資決定。 由於GEM上市公司普遍為中小型公司，在GEM買賣的證券可能會較於主板買 賣之證券承受較大的市場波動風險，同時無法保證在GEM買賣的證券會有高 流通量的市場。 本公告乃遵照聯交所GEM證券上市規則（「GEM上市規則」）而刊載，旨在提供 有關維港育馬控股有限公司（「本公司」）的資料；本公司的董事（「董事」）願就 ...

Financial Performance - For the nine months ended September 30, 2022, the Group recorded revenue of approximately HK$51.6 million, an increase from HK$49.3 million in the same period of 2021[8]. - The loss after taxation for the nine months ended September 30, 2022, amounted to approximately HK$16.3 million, compared to a loss of HK$26.96 million for the same period in 2021, representing a 39% improvement[8][10]. - Basic and diluted loss per share for the nine months ended September 30, 2022, was approximately HK3.98 cents, down from HK7.65 cents in the previous year[10]. - For the three months ended September 30, 2022, revenue was HK$15.55 million, a decrease of 7.2% from HK$16.76 million in the same quarter of 2021[10]. - Gross profit for the nine months ended September 30, 2022, was HK$5.46 million, down from HK$8.62 million in the same period of 2021, reflecting a decline of 36.5%[10]. - Total comprehensive loss for the nine months ended September 30, 2022, was HK$22.19 million, compared to HK$26.47 million in the same period of 2021, indicating a 16.4% reduction in losses[11]. - The total loss before tax for the nine months ended 30 September 2022 was HK$16,290,000, a decrease from HK$26,956,000 for the same period in 2021, reflecting a reduction of approximately 39%[38]. - The total loss for the period for the nine months ended September 30, 2022 was HK$16,290,000, consistent with the loss before tax, reflecting ongoing challenges in the market[38]. Revenue Breakdown - Revenue from external customers for the nine months ended 30 September 2022 was HK$51,610,000, an increase from HK$49,328,000 for the same period in 2021, representing a growth of approximately 4.6%[38]. - Revenue from the manufacturing and trading of threads decreased to approximately HK$38.2 million for the nine months ended September 30, 2022, a decline of approximately 3.1% from HK$39.4 million in the same period in 2021[77]. - Revenue from interior design and decoration increased to approximately HK$10.9 million for the nine months ended September 30, 2022, representing an increase of approximately 9.7% from HK$9.9 million in the same period in 2021[80]. - Revenue from equine services was HK$2.5 million for the nine months ended September 30, 2022, as this segment was newly established in 2021[81]. Expenses and Costs - The Group's administrative expenses for the nine months ended September 30, 2022, increased to HK$21.52 million from HK$17.53 million in the previous year, marking a rise of 22.6%[10]. - The finance costs for the nine months ended September 30, 2022, were HK$1.02 million, up from HK$0.50 million in the same period of 2021, reflecting a 104% increase[10]. - Employee benefit expenses (excluding directors' remuneration) increased to HK$18,180,000 for the nine months ended September 30, 2022, up from HK$15,703,000 in 2021, reflecting a 15.8% increase[59]. - Selling and distribution expenses decreased to approximately HK$4.3 million for the nine months ended September 30, 2022, down approximately 17.9% from approximately HK$5.3 million for the same period in 2021[96]. - The cost of sales for equine services increased to approximately HK$5.4 million for the nine months ended September 30, 2022, from approximately HK$0.9 million for the same period in 2021, representing an increase of 497.2%[88]. Segment Performance - The segment profit from manufacturing and selling of threads was HK$272,000, while the interior design segment reported a profit of HK$9,000[31]. - The segment loss for interior design and decoration services was HK$21,000 for the nine months ended September 30, 2022, a significant improvement from a loss of HK$803,000 in the same period of 2021[38]. - The segment profit for the manufacturing and selling of threads was a loss of HK$1,861,000 for the nine months ended 30 September 2022, compared to a loss of HK$5,571,000 for the same period in 2021, indicating an improvement[38]. - The equine services segment incurred a loss of HK$2,216,000, contributing to a total segment loss of HK$1,935,000 for the period[31]. Corporate Governance and Compliance - The company has adopted the corporate governance code as per GEM Listing Rules and is committed to regular reviews[151]. - The board believes that strong corporate governance practices are essential for safeguarding shareholder interests[150]. - The company confirmed compliance with the required standards of dealings regarding securities transactions by directors for the nine months ended September 30, 2022[154]. - The company confirmed compliance with the trading standards for directors as per GEM Listing Rules from January to September 2022[156]. Future Outlook - Future prospects indicate that the Group expects ongoing impacts from the COVID-19 pandemic and trade conflicts between the PRC and the U.S. to continue affecting its business operations[116]. - The Group anticipates ongoing challenges in its sewing thread manufacturing and sales business due to the COVID-19 pandemic and trade conflicts between China and the United States[120]. - The interior design, fitting out, and decoration services business is expected to diversify the Group's portfolio and increase income sources due to rising demand in Hong Kong and the Greater Bay Area[121]. Shareholding Structure - As of September 30, 2022, Mr. Wong Kwok Wai, Albert holds a 29.33% interest in the Company through a controlled corporation, totaling 120,000,000 shares[130]. - Mr. Leung King Yue, Alex holds a beneficial interest of 10,100,000 shares, representing 2.47% of the Company's issued share capital[130]. - The company's issued ordinary share capital is HK$20,457,093, divided into 409,141,860 shares with a par value of HK$0.05 each[143]. - Three Gates Investment Limited, owned by Mr. Wong, holds 120,000,000 shares, representing 29.33% of the issued share capital[141]. Miscellaneous - The Group does not recommend the payment of an interim dividend for the nine months ended September 30, 2022[55]. - The Group has not yet applied new HKFRSs that have been issued but are not yet effective, and is assessing their potential impact[25]. - The financial statements were prepared in accordance with applicable Hong Kong Financial Reporting Standards and include disclosures required by the GEM Listing Rules[22].

Financial Performance - Revenue for the six months ended June 30, 2022, amounted to approximately HK$36.1 million, an increase from HK$32.6 million in the same period of 2021, representing a growth of about 10.5%[8] - Loss after taxation for the six months ended June 30, 2022, was approximately HK$8.0 million, compared to a loss of HK$21.6 million in the same period of 2021, indicating a significant reduction in losses by approximately 63.0%[9] - Basic and diluted loss per share for the six months ended June 30, 2022, was approximately HK1.95 cents, down from HK6.55 cents in the same period of 2021[9] - Total comprehensive loss for the period attributable to owners of the parent was approximately HK$10.51 million for the six months ended June 30, 2022, compared to HK$21.17 million in the same period of 2021, showing an improvement of approximately 50.4%[10] - The company reported a loss for the period of HK$7,988,000 for the six months ended June 30, 2022[15] - For the six months ended June 30, 2022, the company reported a loss before tax of HK$7,988,000, an improvement from a loss of HK$21,602,000 in the same period of 2021, representing a 63.0% reduction in losses[16] - The total loss for the period for the six months ended June 30, 2022, was HK$7,988,000, a significant improvement from a loss of HK$21,602,000 in the same period of the previous year[41] Revenue Breakdown - Revenue from external customers for the three months ended June 30, 2022, was HK$20,129,000, an increase of 9.5% compared to HK$18,387,000 for the same period in 2021[38] - Total revenue from external customers for the six months ended June 30, 2022, was HK$36,064,000, up from HK$32,573,000 for the same period in 2021, representing an increase of 10.3%[41] - Revenue from the manufacturing and trading of threads increased to approximately HK$26.6 million, up approximately 5.3% from HK$25.3 million in the previous year[108] - Revenue from equine services was HK$2.2 million for the six months ended June 30, 2022, as this segment was newly established in 2021[111] - Revenue from interior design and decoration slightly decreased to approximately HK$7.26 million, down approximately 0.8% from HK$7.31 million in the previous year[110] Expenses and Costs - Gross profit for the six months ended June 30, 2022, was approximately HK$4.67 million, a decrease from HK$5.39 million in the same period of 2021, reflecting a decline of about 13.4%[9] - Selling and distribution expenses decreased to approximately HK$3.08 million for the six months ended June 30, 2022, from HK$3.37 million in the same period of 2021, a reduction of about 8.6%[9] - Administrative expenses increased slightly to approximately HK$13.40 million for the six months ended June 30, 2022, compared to HK$11.54 million in the same period of 2021, an increase of about 16.1%[9] - Cost of inventories sold for the six months ended June 30, 2022, was HK$22,901,000, compared to HK$20,768,000 in 2021, marking an increase of 10.3%[57] - Employee benefit expenses (excluding directors' remuneration) increased to HK$10,898,000 for the six months ended June 30, 2022, from HK$9,987,000 in 2021, a rise of 9.1%[57] - Depreciation of fixed assets for the six months ended June 30, 2022, was HK$920,000, compared to HK$841,000 in 2021, showing an increase of 9.4%[57] Assets and Liabilities - Total non-current assets increased to HK$38,168,000 as of June 30, 2022, from HK$34,553,000 as of December 31, 2021, representing an increase of 7.4%[12] - Current assets rose significantly to HK$119,695,000 as of June 30, 2022, compared to HK$86,433,000 as of December 31, 2021, marking an increase of 38.4%[12] - Net current assets decreased to HK$44,811,000 as of June 30, 2022, down from HK$58,436,000 as of December 31, 2021, a decline of 23.4%[13] - Total current liabilities surged to HK$74,884,000 as of June 30, 2022, compared to HK$27,997,000 as of December 31, 2021, an increase of 167.5%[12] - Total equity decreased to HK$82,380,000 as of June 30, 2022, from HK$91,765,000 as of January 1, 2022, a reduction of 10.2%[13] - Trade payables rose significantly to HK$31,919,000 as of June 30, 2022, compared to HK$7,391,000 as of December 31, 2021, an increase of 331.5%[12] Cash Flow and Financing - Net cash flows used in operating activities amounted to HK$21,151,000, compared to HK$13,208,000 in the prior year, indicating a 60.0% increase in cash outflow[16] - The company generated net cash flows from financing activities of HK$26,886,000, a decrease of 42.0% from HK$46,430,000 in the previous year[17] - Cash and cash equivalents at the end of the period were HK$29,438,000, up from HK$17,589,000 at the end of the same period in 2021, reflecting a 67.5% increase[17] - The company incurred finance costs of HK$283,000, slightly down from HK$329,000 in the previous year, showing a 14.0% decrease[16] - New borrowings during the period amounted to HK$27,000,000, significantly higher than HK$6,881,000 in the previous year, indicating a 292.0% increase[17] Strategic Initiatives - The company aims to enhance its market presence and explore new product development opportunities to drive future growth[8] - The Group anticipates growth in its interior design and decoration services due to increasing demand in Hong Kong and the Greater Bay Area[97] - The Group has expanded its stallion portfolio by acquiring shares in notable young sires in Australia, positioning itself to benefit from the booming bloodstock industry[100] - The management team is actively pursuing strategic partnerships with key industry participants to enhance the bloodstock arm of the company[102] - The Group's strategy includes diversifying its business portfolio to increase income sources through its interior design services[97] Share Capital and Dividends - The company does not recommend the payment of an interim dividend for the six months ended June 30, 2022, consistent with the previous year[64] - The issued and fully paid share capital remained at HK$20,457,000 as of June 30, 2022, unchanged from December 31, 2021[94] - The issued share capital of the Group as of June 30, 2022, was approximately HK$20.5 million, divided into 409,141,860 shares[151] Market Conditions and Challenges - The Group has faced difficulties in its principal business of manufacturing and selling sewing threads due to COVID-19 and ongoing trade conflicts, impacting financial position and cash flows[187] - The Group will continue to monitor the impacts of trade conflicts and COVID-19 on its business operations and financial results[187]

Financial Performance - Revenue for the three months ended March 31, 2022, amounted to approximately HK$15.9 million, an increase from HK$14.2 million in the same period of 2021, representing a growth of about 12.2%[7] - Loss after taxation for the three months ended March 31, 2022, was approximately HK$5.8 million, a significant improvement compared to a loss of HK$15.2 million in the same period of 2021, indicating a reduction of approximately 61.8%[8] - Basic and diluted loss per share for the three months ended March 31, 2022, was approximately HK1.42 cents, compared to HK4.99 cents in the same period of 2021, reflecting a decrease of about 71.6%[9] - Total comprehensive loss for the period was approximately HK$5.6 million, a significant improvement from HK$15.7 million in the same period of 2021, indicating a reduction of approximately 64.3%[9] - The company reported a loss for the period of HK$5,806,000, compared to a loss of HK$15,193,000 in the previous period[11] Revenue Breakdown - The Group's total revenue for the three months ended March 31, 2022, was HK$15,935,000, representing an increase of 12.5% compared to HK$14,186,000 for the same period in 2021[42] - The manufacturing segment generated revenue of HK$12,018,000, while the interior design segment contributed HK$3,843,000, and equine services brought in HK$74,000[34] - Revenue from external customers in Hong Kong was HK$5,399,000, showing a significant increase from HK$3,558,000 in the same period last year[42] - Revenue from the manufacturing and selling of threads increased to approximately HK$12.0 million, a rise of approximately 3.2% from approximately HK$11.6 million in the previous year[81] - Revenue from the interior design and decoration segment increased significantly by approximately 51.1%, reaching approximately HK$3.8 million compared to approximately HK$2.5 million in the prior year[84] Expenses and Costs - Gross profit for the three months ended March 31, 2022, was approximately HK$2.0 million, down from HK$2.5 million in the same period of 2021, representing a decline of about 19.9%[8] - Selling and distribution expenses decreased to approximately HK$1.4 million from HK$1.5 million in the same period of 2021, reflecting a reduction of about 7.4%[8] - Administrative expenses increased to approximately HK$7.0 million from HK$5.1 million in the same period of 2021, representing an increase of about 37.9%[8] - The cost of inventories sold increased to HK$10,535,000 in Q1 2022 from HK$9,487,000 in Q1 2021, indicating rising costs associated with production[53] - The cost of sales for the manufacturing and selling of threads increased to approximately HK$10.5 million, an increase of 11.0% from approximately HK$9.5 million in the previous year[91] Other Income and Gains - Other income and gains for the three months ended March 31, 2022, increased to approximately HK$1.2 million from HK$0.8 million in the same period of 2021, showing a growth of about 60.5%[8] - The Group's total other income and gains for the first quarter of 2022 were HK$1,234,000, compared to HK$770,000 in the same period of 2021, indicating growth in ancillary income sources[46] - Other net gains for the Group were approximately HK$0.7 million for the three months ended March 31, 2022, compared to net gains of approximately HK$0.1 million for the same period in 2021[99] Corporate Structure and Governance - The company’s subsidiaries are primarily engaged in manufacturing and selling sewing threads and garment accessories, as well as providing interior design and equine-related services[13] - The ultimate holding company is Three Gates Investment Limited, controlled by Mr. Wong Kwok Wai, Albert[14] - The company has established several subsidiaries in Hong Kong and the PRC, all with 100% equity held by the Company[19] - The corporate governance practices have been adopted to ensure accountability to shareholders and efficient management[152] - The board is committed to regularly reviewing corporate governance practices to meet the expectations of shareholders and stakeholders[153] Strategic Initiatives - The Group expects the interior design and decoration business line to diversify its existing business portfolio and increase sources of income due to growing popularity in Hong Kong and the Greater Bay Area[68] - The Group has acquired quality broodmares and shares in stallions to enter the horse trading and breeding business in Australia, positioning itself to benefit from the booming industry[71] - The management team is actively pursuing strategic collaborations with key industry players to leverage growth opportunities in the Australian thoroughbred market[128] Market and Operational Insights - The Group's customers include garment manufacturers in the PRC and Hong Kong, as well as wholesalers overseas[67] - The Australian thoroughbred industry is experiencing record prize money and market trends, positioning the company to benefit from this growth[128] - The company anticipates ongoing impacts from the COVID-19 pandemic and US-China trade conflicts, which may affect its financial condition, cash flow, and operational performance[127] Share Capital and Ownership - As of March 31, 2022, the company's issued ordinary share capital was HK$20,457,093, divided into 409,141,860 shares[138] - Mr. Wong Kwok Wai, the chairman, holds a 29.33% interest in the company through Three Gates Investment, which owns 120,000,000 shares[133] - Gold-Face Finance Limited and Upbest Credit and Mortgage Limited each hold 80,000,000 shares, accounting for 19.55% of the issued share capital[142] Compliance and Audit - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited first quarterly results for the three months ended March 31, 2022[171] - The company confirmed that all directors complied with the required standard of dealings regarding securities transactions for the three months ended March 31, 2022[158] - The company has adopted a culture of good corporate governance to ensure the overall interests of shareholders[156]

Financial Performance - The Group's revenue for the year ended December 31, 2021, increased to approximately HK$73.4 million, representing a growth of approximately 63.1% compared to HK$45.0 million in 2020[18]. - The Group's net loss for the year ended December 31, 2021, rose to approximately HK$27.2 million, an increase of approximately 74.7% from HK$15.6 million in 2020[18]. - The increase in net loss was primarily due to an increase in impairment losses on goodwill of approximately HK$12.1 million and an increase in administrative expenses of approximately HK$9.4 million[18]. - Revenue from the manufacturing and trading of threads increased to approximately HK$54.5 million, up approximately 21.2% from HK$45.0 million in 2020, driven by increased sales in the PRC and overseas markets[36]. - The Group recorded a loss before income tax of approximately HK$27.2 million for the year ended December 31, 2021, an increase of 74.7% from approximately HK$15.6 million in 2020[62]. - Total comprehensive expenses attributable to the owners of the parent increased to approximately HK$25.7 million for the year ended December 31, 2021, up 123.7% from approximately HK$11.5 million in 2020[64]. - The basic and diluted loss per share for the year ended December 31, 2021, was approximately HK7.43 cents, an increase of approximately 19.5% compared to HK6.22 cents in 2020[70]. Revenue Segmentation - The Group's revenue from the interior design and decoration segment for the year ended December 31, 2021, was HK$18.1 million, reflecting the acquisition of Diamond Motto Limited[41]. - The equine services segment generated revenue of approximately HK$0.8 million, marking the establishment of this new business line during the year[40]. - The manufacturing and trading of threads accounted for 74.3% of total revenue in 2021, while interior design and decoration contributed 24.6%[35]. Administrative and Operational Costs - Administrative expenses increased by approximately HK$9.4 million, contributing to the overall rise in net loss for the year[22]. - Selling and distribution expenses increased to approximately HK$7.0 million for the year ended December 31, 2021, up from approximately HK$5.7 million in 2020, due to higher transportation and labor costs[55]. - Administrative expenses rose to approximately HK$23.4 million for the year ended December 31, 2021, representing a 67.5% increase from approximately HK$13.9 million in 2020[56]. Acquisitions and Business Expansion - The Group completed the acquisition of 100% equity interest in Diamond Motto Limited on February 9, 2021, to diversify its business focus into interior design and decoration services[24]. - The Group completed the acquisition of DML Group in February 2021, which provides interior design and decoration services, aiming to diversify its business portfolio[159]. - The Group has expanded its stallion portfolio in Australia, acquiring shares in notable horses, including Extreme Choice and Farnan, to capitalize on the booming bloodstock industry[25]. - The Group has established a sales office in Zhejiang province, which is currently in full operation[140]. Financial Position and Liquidity - The Group's cash and bank balances amounted to approximately HK$27.3 million as of December 31, 2021, compared to approximately HK$11.9 million as of December 31, 2020[73]. - The Group's net current assets increased from approximately HK$35.5 million as of December 31, 2020, to approximately HK$58.4 million as of December 31, 2021[74]. - The current ratio slightly decreased from approximately 3.8 as of December 31, 2020, to approximately 3.1 as of December 31, 2021[74]. - The Group's gearing ratio improved from approximately 4.9% as of December 31, 2020, to approximately 0.9% as of December 31, 2021[78]. Share Capital and Fundraising Activities - The Company entered into subscription agreements on June 29, 2021, to issue 6,700,000 new shares at a subscription price of HK$0.60 per share[86]. - As of December 31, 2021, the Company's issued share capital amounted to approximately HK$20.5 million, divided into 409,141,860 shares[87]. - The company completed a rights issue on June 12, 2020, issuing 400,000,000 new shares at a subscription price of HK$0.043 per share, raising approximately HK$14.6 million net proceeds[141]. - The company has engaged in multiple capital raising activities, reflecting a strategy to strengthen its financial position and support growth initiatives[147][152]. Management and Governance - Mr. Chan Yiu Tung has over 20 years of experience in tax and business advisory services, having served as an executive director at Ernst & Young and as a partner at Grant Thornton[171]. - Mr. Leung King Yue has over 20 years of experience in the financial services sector, primarily in compliance and asset management, and previously served as an executive director at DT Capital Limited[176]. - Mr. Ma Pok Man Josiah has over 15 years of experience in the horse racing and breeding industry and over 20 years in the construction industry, holding various engineering qualifications[180]. - Mr. Sung Alfred Lee Ming has over 30 years of experience in accounting and assurances and serves as the chairman of the audit committee[189]. Corporate Social Responsibility and Compliance - The Group has established an ESG report preparation team to integrate social responsibility into its strategy and decision-making[124]. - The Group maintained business integrity and dedication to environmental protection throughout the year ended December 31, 2021[125]. - The Company has complied with all relevant laws, rules, and regulations that significantly impact its operations in Hong Kong and the PRC[120].