香港交 易及結算 所有限公司 及香港聯 合交易所 有限公司（「聯交所」）對本公 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 公 告 全 部或 任 何 部 份內 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。 Asia Pioneer Entertainment Holdings Limited 亞 洲 先 鋒 娛 樂 控 股 有 限 公 司 （ 於開曼群島註冊成立的有限公司） （股份代號：8400） 董事會 欣然宣佈 ，寶德隆企 業秘書部 門經理林 燕玲女士（「林女士」）已獲委 任並取代梁女士成為本公司之公司秘書、GEM上市規則之授權代表及香港 公司條例之獲授權代表，全部於二零二五年八月八日生效（「委任」）。 公司秘書、GEM上市規則之授權代表 及 公司條例之獲授權代表之變更 辭任及退任公司秘書及授權代表 亞洲先鋒娛樂控股有限公司（「本公司」）已委聘寶德隆企業服務（ 香港 ）有限 公司（「寶德隆」）為本公 司提供若 干企業秘書 服務。寶 德隆提名 其企業秘書 部 門 高 級 經 理 梁 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 亞洲先鋒娛樂控股有限公司 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 08400 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 10,000,000,000 | HKD | | 0.01 | HKD | | 100,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 10,000,000,000 | HKD | | 0.01 | HKD | | 100,000,000 | 本月底法定/註冊股本總額： HKD 10 ...

Financial Performance - The company recorded a net profit of approximately HKD 3.8 million for the fiscal year 2024, a turnaround from a loss of HKD 1.9 million in the fiscal year 2023, representing a significant recovery [10]. - Revenue increased by 70.9% from HKD 29.7 million in fiscal year 2023 to approximately HKD 50.8 million in fiscal year 2024, primarily driven by the electronic gaming equipment business [10]. - The company reported a profit before tax of approximately HKD 2.54 million for the fiscal year 2024, compared to a loss of approximately HKD 2.42 million in the previous fiscal year [26]. - The net profit after tax for FY2024 was approximately HKD 3.8 million, compared to a net loss of about HKD 1.9 million in FY2023, mainly due to the sharp increase in gross profit [30]. - The total revenue of the electronic gaming equipment business for the fiscal year 2024 was approximately HKD 48.5 million, an increase of about 77.3% compared to approximately HKD 27.4 million in the fiscal year 2023 [17]. Gaming Industry Insights - The overall gaming revenue in Macau increased by 23.9% to MOP 226.8 billion (approximately USD 28.3 billion) in fiscal year 2024, compared to MOP 183.1 billion in fiscal year 2023 [10]. - The company anticipates continued growth in the gaming sector through 2025 and beyond, supported by the strengthening financial position of casinos [11]. - The company is optimistic about the steady growth of gaming revenue in Macau and is exploring new opportunities in Abu Dhabi and Thailand [11]. - The company believes there is significant growth potential in the gaming industry and aims to leverage its experience in Macau to expand its business [11]. Operational Developments - The company is collaborating with suppliers to launch new machines and products to meet the growing demand in the gaming market, incorporating new technologies [11]. - A small equity investment of 3.57% was made in a new manufacturing and technology company in Macau, which is expected to produce products for the gaming industry [11]. - The company installed 59 different types of vending machines in Macau during the fiscal year, generating revenue of approximately HKD 2.2 million with a gross profit of about HKD 0.5 million [25]. - The total capital expenditure for the vending machines was approximately HKD 2.7 million [25]. Revenue Breakdown - The revenue from technical sales and distribution of electronic gaming equipment was approximately HKD 39.0 million, up approximately 178.0% from about HKD 14.0 million in the previous fiscal year [17]. - The overall gross profit for the electronic gaming equipment business was approximately HKD 22.9 million, with a gross margin of about 47.3%, compared to a gross profit of approximately HKD 10.6 million and a margin of 38.6% in the fiscal year 2023 [17]. - The consulting and technical services segment achieved a gross margin of 70.8%, indicating strong profitability in this area [162]. - Revenue from consulting and technical services was approximately HKD 8.8 million, a decrease of about 25.6% from HKD 11.8 million in the fiscal year 2023 [166]. Corporate Governance - The company has a strong commitment to corporate governance, ensuring accountability and effective risk management [65]. - The board consists of seven directors, with independent non-executive directors making up 43% of the board [75]. - The company has adopted and complied with all mandatory disclosure requirements and applicable code provisions of the GEM Listing Rules [66]. - The board has established four committees: audit committee, nomination committee, remuneration committee, and risk management committee to monitor specific aspects of the company [104]. - The company has established mechanisms to ensure strong independent elements within the board and to obtain independent advice [77]. Risk Management - The company has established policies and procedures for risk management and internal control, with the board responsible for overseeing their effectiveness [139]. - The independent auditor has reviewed the adequacy and effectiveness of the company's risk management and internal control systems, covering financial, operational, compliance, and IT controls [140]. - The board expects to review the risk management and internal control systems annually [142]. - The company has implemented strict internal controls to prevent unauthorized use of confidential or insider information [146]. Shareholder Engagement - The company has established procedures for shareholders to request special general meetings, requiring at least 10% of the voting rights to initiate such a request [149]. - The board of directors has reviewed the shareholder communication activities for the year and expressed satisfaction with the implementation and effectiveness of the shareholder communication policy [154]. - The company has adopted a dividend policy to allow shareholders to share in distributable profits while reserving sufficient reserves for future development [97]. - The company did not declare or pay any dividends for the fiscal year, consistent with the previous fiscal year [172]. Future Outlook - The company has set a future revenue guidance of $600 million for the next fiscal year, indicating a growth target of 20% [3]. - New product launches are expected to contribute an additional $50 million in revenue over the next two quarters [4]. - The company is expanding its market presence in Southeast Asia, aiming for a 30% increase in market share by the end of the year [5]. - A strategic acquisition of a local competitor is anticipated to enhance the company's product offerings and customer base [6].

Financial Performance - The company reported a consolidated financial performance for the fiscal year ending December 31, 2024, in accordance with GEM listing rules[2]. - The group recorded a net profit of approximately HKD 3.8 million for the fiscal year 2024, recovering from a loss of HKD 1.9 million in the fiscal year 2023, driven by a 70.9% increase in revenue from HKD 29.7 million to approximately HKD 50.8 million[15]. - In the fiscal year 2024, the company's revenue increased by approximately 70.9% to about HKD 50.8 million, up from approximately HKD 29.7 million in 2023[32]. - The gross profit for fiscal year 2024 rose to approximately HKD 23.5 million, compared to about HKD 10.9 million in 2023[32]. - The company reported a net foreign exchange loss of HKD 102,425 for the fiscal year 2024, a decrease from a net foreign exchange gain of HKD 71,149 in fiscal year 2023, attributed to fluctuations in the USD/EUR exchange rate affecting Euro-denominated liabilities[49]. - The company did not declare or pay any dividends for the current fiscal year, consistent with the previous fiscal year[177][178]. Business Operations - The company operates primarily in Hong Kong and Macau, with significant locations in North Point and Avenida do Dr. Rodrigo Rodrigues[12]. - The electronic gaming equipment business generated total revenue of approximately HKD 48.5 million, a 77.3% increase from approximately HKD 27.4 million in the fiscal year 2023[22]. - The technical sales and distribution revenue for electronic gaming equipment was approximately HKD 39.0 million, up 178.0% from approximately HKD 14.0 million in the previous fiscal year[22]. - The overall gross profit for the electronic gaming equipment business was approximately HKD 22.9 million, with a gross margin of about 47.3%, compared to HKD 10.6 million and 38.6% in the fiscal year 2023[22]. - The company installed a total of 59 vending machines in various locations across Macau during the fiscal year[30]. - The smart vending machine business generated revenue of approximately HKD 2.2 million with a gross profit of about HKD 0.5 million[30]. - The company sold a total of 180 gaming seats, which includes 4 electronic gaming machines and 176 electronic table game seats, representing a 58% increase from 114 seats sold in the fiscal year 2023[169]. - The electronic table game segment saw a significant increase in sales, with 176 units sold, representing a 214% increase from 56 units in the previous fiscal year[169]. Management and Governance - The board expressed gratitude to shareholders, customers, suppliers, and business partners for their continued support[14]. - The company has a dedicated risk management committee to oversee potential risks[13]. - The company acknowledges the independent auditor's role in ensuring financial integrity and compliance with regulations[13]. - The executive board consists of 7 members, including 4 executive directors and 3 independent non-executive directors, with no other matters requiring disclosure to shareholders or the Hong Kong Stock Exchange[55]. - The company has a strong leadership team with extensive experience in the gaming and investment sectors, including the chairman who has over 19 years in the gaming industry and over 40 years in investment banking[56]. - The Chief Financial Officer has been with the group since 2013 and was appointed CFO in April 2018, bringing significant experience in investor relations and corporate finance[60]. - The management team includes experienced professionals with over 37 years in the industry, enhancing the company's strategic capabilities[61]. - The company adheres to the GEM Listing Rules and has implemented good corporate governance practices to enhance shareholder value[70]. - The board of directors is responsible for overseeing the company's business management and overall performance, ensuring necessary resources are in place[73]. - The independent directors bring extensive experience in accounting, auditing, and corporate governance, ensuring independent judgment in board decisions[63][64][65]. Risk Management - The company emphasizes the higher investment risks associated with companies listed on GEM, which are generally smaller and may experience greater market volatility[8]. - The company has established various internal guidelines to monitor and mitigate risks associated with its business operations[144]. - The board believes that the risk management and internal control measures are adequate and effective for the current business environment[146]. - The board is expected to review the risk management and internal control systems annually[147]. Corporate Social Responsibility - The company has committed to environmental sustainability and compliance with relevant laws and regulations[180][182]. - The company encourages charitable donations while ensuring that such contributions do not facilitate bribery or corruption[107]. - The company maintains a zero-tolerance policy towards corruption, implementing measures to prevent bribery and fraud in all business dealings[105]. Shareholder Relations - The company is committed to ensuring the accuracy and completeness of the information provided in the announcement[5]. - The company has adopted a dividend policy to allow shareholders to share in the profits while reserving sufficient reserves for future development[102]. - The board has resolved not to recommend any dividend for the current year, consistent with the previous year where no dividend was distributed[50]. - The company will consider various factors, including financial conditions and future development needs, when determining dividend declarations[102]. Market Outlook - The group plans to continue developing its electronic gaming equipment business and is collaborating with suppliers to launch new machines and products to meet the growing demand in the gaming market[16]. - The group is optimistic about steady growth in Macau's total gaming revenue and is exploring new opportunities in Abu Dhabi and Thailand[16]. - Macau's total gaming revenue for the year 2024 increased by 23.9% to MOP 226.8 billion (approximately USD 28.3 billion), up from MOP 183.1 billion in 2023[24]. - The number of visitors to Macau in 2024 reached 34.93 million, approximately 88.6% of pre-pandemic levels[25].

Business Performance - The company reported a significant recovery in business during the second half of the fiscal year 2023, attributed to increased orders for electronic gaming equipment and improvements in smart vending machine operations[9]. - The company experienced a slight loss for the entire fiscal year 2023 but achieved profitability in the second half, driven by customer orders for equipment upgrades and new machines[9]. - The company anticipates continued growth in its core electronic gaming equipment business, with expectations of new orders from customers for reliable and profitable machines[9]. - The overall electronic gaming equipment business is expected to continue its growth trajectory[9]. - The total revenue of the electronic gaming equipment business for the year was approximately HKD 27.4 million, an increase of about 185.2% compared to approximately HKD 9.6 million in the fiscal year 2022[15]. - The group's revenue for the fiscal year 2023 increased by approximately 182.5% to about HKD 29.7 million, up from approximately HKD 10.5 million in fiscal year 2022[25]. - Gross profit surged to approximately HKD 10.9 million in fiscal year 2023, compared to a gross loss of about HKD 0.1 million in fiscal year 2022[25][26]. Revenue Breakdown - The revenue from technical sales and distribution of electronic gaming equipment was approximately HKD 14.0 million, up approximately 129.9% from about HKD 6.1 million in the previous fiscal year[15]. - The consulting and technical services revenue reached approximately HKD 11.8 million, representing an increase of approximately 288.6% from about HKD 3.0 million in the fiscal year 2022[15]. - The revenue from maintenance services was approximately HKD 1.6 million, up 236.0% from approximately HKD 0.5 million in the fiscal year 2022[175]. - The smart vending machine business generated revenue of approximately HKD 2.3 million with a gross profit of about HKD 0.3 million during the fiscal year 2023[23]. Market and Industry Insights - By the end of 2023, Macau's monthly gaming revenue approached pre-pandemic levels, indicating a strong rebound in the tourism sector[8]. - The total gaming revenue in Macau for the year 2023 increased by 334% year-on-year, reaching MOP 183.1 billion (approximately USD 22.7 billion), compared to about MOP 42.55 billion in 2022[18]. - The number of visitors to Macau in 2023 was 28.2 million, which is 71.6% of the pre-pandemic levels[19]. - Strategic opportunities for business development are being actively sought, leveraging Macau's unique position as the only legal gambling location in China[9]. Corporate Governance and Management - The company emphasizes compliance and corporate governance, with independent directors overseeing the board[59]. - The board consists of 6 members, including 3 executive directors and 3 independent non-executive directors[51]. - The company has adopted the corporate governance code and complies with all mandatory disclosure requirements, except for one specific provision regarding attendance at shareholder meetings[68]. - The board is responsible for overseeing the company's business management and overall performance, ensuring necessary financial and human resources are in place[70]. - The company has established a robust corporate culture that aligns with its vision and mission, essential for achieving sustainable growth[72]. Risk Management and Internal Control - The company believes that the risk management and internal control measures are sufficient and effective for the current business environment[142]. - The company has established policies and procedures for risk management and internal control, with the board overseeing their effectiveness[141]. - The internal control system is designed to address specific business needs and minimize risks associated with daily operations[141]. - External auditors have conducted an annual review of the risk management and internal control systems, including financial, operational, compliance, and IT controls[145]. Financial Position - The net loss after tax for fiscal year 2023 was approximately HKD 1.9 million, significantly reduced from a net loss of about HKD 14.7 million in fiscal year 2022[28]. - As of December 31, 2023, the group's current assets net value was approximately HKD 12.7 million, down from about HKD 15.2 million as of December 31, 2022[29]. - The capital debt ratio was not applicable as the group had no debt as of December 31, 2023[29]. - The company has made appropriate insurance arrangements to protect directors against liabilities incurred in the performance of their duties[89]. Shareholder and Board Activities - The board has decided not to recommend any dividend distribution for the current year, consistent with the previous year[43]. - The company has adopted a dividend policy that allows shareholders to share in the profits while reserving sufficient reserves for future development, with the board having full discretion over dividend declarations[99]. - The board held four meetings during the year, reviewing and approving the audited consolidated financial statements for the fiscal year ending December 31, 2022[91]. - The attendance record for board meetings shows that the chairman and CEO attended all four meetings, while one independent non-executive director attended only one[92]. Future Outlook - The company expresses optimism for the upcoming year, supported by the recovery of the tourism industry and mass gaming[10]. - The company aims to provide diversified and innovative entertainment experiences through electronic gaming equipment and smart vending machines, positioning itself as a leading supplier in Macau and Southeast Asia[75]. - The management team is committed to providing financial guidance and analysis to support strategic planning[62].

Financial Performance - The fiscal year 2023 is described as a year of revival for Asia Pioneer Entertainment Holdings Limited, with a significant rebound in Macau's tourism and gaming industry [15]. - By the end of 2023, Macau's monthly gaming revenue approached pre-pandemic levels, indicating a strong recovery in the market [15]. - The overall gaming revenue in Macau and the revenue from the company's casino clients showed a notable increase, reflecting the positive market trend [15]. - The total gaming revenue in Macau for the year 2023 increased by 334% year-on-year, reaching MOP 183.1 billion (approximately USD 22.7 billion), compared to about MOP 42.55 billion in 2022 [25]. - The company's revenue for the fiscal year 2023 increased by approximately 182.5% to about HKD 29.7 million, compared to approximately HKD 10.5 million in 2022 [32]. - Gross profit for 2023 was approximately HKD 10.9 million, a significant increase from a gross loss of about HKD 0.1 million in 2022 [32]. - The smart vending machine business generated revenue of approximately HKD 2.3 million with a gross profit of about HKD 0.3 million [30]. - The consulting and technical services revenue reached approximately HKD 11.8 million, representing an increase of approximately 288.6% from about HKD 3.0 million in the fiscal year 2022 [22]. - The maintenance services segment produced revenue of approximately HKD 1.6 million, up approximately 236.0% from about HKD 0.5 million in the 2022 fiscal year [182]. Market Strategy and Growth - The company plans to continue leveraging the recovery momentum in the gaming sector to enhance its market position [15]. - The management team remains committed to driving growth through strategic initiatives and operational improvements [15]. - The company is focused on expanding its market presence and exploring new opportunities in the gaming and entertainment sectors [15]. - Future outlook remains optimistic as the company anticipates sustained growth in revenue and customer engagement [15]. - The group is actively seeking opportunities to enhance overall business profitability, particularly in Macau, which is viewed as a core growth driver due to the recovery of the tourism and gaming sectors [22]. - The group plans to continue launching new machines and products in the electronic gaming equipment sector to meet the growing demand in the mass gaming market [22]. - The company aims to become a leading provider of electronic gaming equipment and smart vending machine solutions in Macau and Southeast Asia [82]. Corporate Governance - The board of directors emphasizes the importance of maintaining transparency and accountability in all business operations [15]. - The board consists of 6 members, including 3 executive directors and 3 independent non-executive directors, ensuring a balanced governance structure [58]. - The company has established a strong compliance framework, with Mr. Chen also serving as the Compliance Officer, ensuring adherence to regulatory requirements [65]. - The board's risk management committee, chaired by Mr. Xu, plays a crucial role in identifying and mitigating potential risks associated with the company's operations [59]. - The company has a robust sales team led by Ms. Maria Fatima, focusing on enhancing sales performance in the Macau and Southeast Asian markets [56]. - The company has a structured governance framework with distinct roles for the Chairman and the CEO to prevent power concentration [113]. - The company has implemented a code of conduct applicable to employees and directors, ensuring adherence to corporate governance principles [138]. - The board has established committees to delegate responsibilities and ensure effective governance practices are in place [77]. Risk Management and Compliance - The company has established policies and procedures for risk management and internal controls to mitigate business-related risks [148]. - The board of directors is responsible for overseeing the risk management and internal control systems, which are deemed sufficient and effective for the current business environment [152]. - The company plans to review its risk management and internal control systems annually [153]. - The independent auditor's report will be included in the annual report, covering the adequacy and effectiveness of the company's risk management and internal control systems [149]. - The company has maintained good relationships with suppliers, customers, employees, and other stakeholders without any significant disputes during the year [191]. - The company is committed to environmental sustainability and compliance with environmental laws and regulations [188]. Shareholder Relations - The company has adopted a dividend policy to allow shareholders to share in the profits while reserving sufficient reserves for future development [106]. - The board has resolved not to recommend any final dividend for the current year [186]. - The company did not declare or pay any dividends for the current year, consistent with the previous fiscal year [185]. - The annual general meeting for shareholders is scheduled for May 10, 2024 [196]. Technology and Innovation - The company is actively investing in new technologies and product development to enhance customer experience and operational efficiency [15]. - The company is committed to upgrading facilities and using advanced technology to enhance competitiveness and productivity [82]. - The company has implemented backend data tracking systems in all vending machines to monitor sales and improve operational efficiency [27]. - The company has established mechanisms to ensure strong independent elements within the board and to obtain independent opinions and advice [88]. Employee and Diversity Initiatives - As of December 31, 2023, the gender ratio of employees, including senior management, was 53% male and 47% female, indicating a commitment to employee diversity [105]. - The company aims to appoint one female director by December 31, 2024, to achieve gender diversity on the board [104].

Revenue Performance - For the nine months ended September 30, 2023, the group's revenue was approximately HKD 14.6 million, an increase of about 263.6% compared to approximately HKD 4.0 million for the same period in 2022[7]. - Revenue growth was primarily driven by significant increases in electronic gaming equipment sales (approximately 590%), consulting and technical services (147.5%), maintenance services (214%), and smart vending machine operations (150%)[7]. - Total revenue for the nine months ended September 30, 2023, was HKD 14,614,595, a significant increase of approximately 264% compared to HKD 4,019,356 in the same period of 2022[17]. - Revenue from electronic gaming equipment business reached HKD 12,894,649, up about 286% from HKD 3,340,894 in the previous year[17]. - Revenue from the smart vending machine business was HKD 1,719,946, an increase of approximately 153% compared to HKD 678,462 in 2022[17]. - The company experienced a 590% increase in revenue from technical sales and distribution of electronic gaming equipment compared to the previous year[30]. - Revenue from maintenance services increased by approximately 214%, while consulting and technical services revenue rose by about 147.5%[30]. - Revenue from electronic gaming equipment technology sales and distribution surged by 590% to HKD 6.89 million, while consulting and technical services revenue rose by 147.5% to HKD 5.01 million[37]. Financial Performance - The group recorded a total comprehensive loss of approximately HKD 7.1 million for the period, a decrease of about 46.6% from approximately HKD 13.3 million in the same period last year, attributed to the recovery of the gaming and tourism industry in Macau[7]. - The company reported a net loss attributable to shareholders of HKD 7,118,818 for the nine months ended September 30, 2023, compared to a loss of HKD 13,333,956 in the same period of 2022, indicating an improvement[25]. - The gross profit for the nine months ended September 30, 2023, was HKD 3.6 million, compared to a gross loss of HKD 1.1 million for the same period in 2022[8]. - The gross profit margin improved from approximately -26.9% to about 24.8%, driven by significant increases in various service segments[41]. - Operating expenses decreased to HKD 10.5 million from HKD 12.7 million in the previous year, reflecting improved cost management[8]. - Operating expenses decreased by approximately 17% from about HKD 12.7 million to approximately HKD 10.5 million due to management salary reductions and operational reviews[42]. - The company reported other income of HKD 133,376, a decrease from HKD 1,059,889 in the same period of 2022[20]. Dividend and Shareholder Information - The board of directors decided not to declare any dividends for the period, consistent with the previous year[7]. - The company did not declare any dividends for the current period, consistent with the previous year[26]. - The average number of ordinary shares used for calculating basic loss per share remained at 1,000,000 for both periods[25]. - The major shareholders, including Mr. Xu and Mr. Wu, held approximately 29.47% and 28.92% of the issued shares, respectively, as of September 30, 2023[65]. Strategic Focus and Market Outlook - The company continues to focus on expanding its electronic gaming equipment and smart vending machine businesses in Macau and the Greater Bay Area of China[13]. - The overall market outlook remains cautiously optimistic as the gaming and tourism sectors in Macau gradually recover to pre-pandemic levels[7]. - The company aims to restore profitability in 2023 as the gaming and tourism sectors in Macau gradually recover to pre-pandemic levels[34]. - The company is exploring several opportunities to enhance its product and service offerings for casino clients[34]. Asset Management and Capital Structure - The group's total assets as of September 30, 2023, were reported at HKD 11.1 million, down from HKD 19.7 million a year earlier, indicating a need for strategic asset management[11]. - The group maintained a prudent treasury policy, ensuring all cash was held in licensed financial institutions as of September 30, 2023[58]. - The group had no secured assets as of September 30, 2023, consistent with the previous reporting period[57]. - The company has no bank borrowings or overdrafts as of September 30, 2023, maintaining a capital structure without significant changes since December 31, 2022[48]. - The group's capital commitments as of September 30, 2023, were HKD 0.05 million, a decrease from HKD 0.1 million as of September 30, 2022[56]. Employee and Operational Information - As of September 30, 2023, the group had a total of 35 employees, down from 41 employees as of September 30, 2022, with employee costs amounting to approximately HKD 7.2 million compared to HKD 9.5 million in the previous year[54]. Governance and Compliance - The company has complied with all applicable provisions of the Corporate Governance Code during the reporting period[72]. - The Audit Committee has reviewed the unaudited condensed consolidated financial statements and believes they have been prepared in accordance with applicable accounting standards and regulations[78]. - The Audit Committee consists of three independent non-executive directors, with Mr. Cai Guowei serving as the chairman[75]. - The board is not aware of any significant matters that require disclosure after the reporting period up to the date of this report[74]. - No securities were repurchased, purchased, or sold by the company or its subsidiaries during the reporting period[73]. - The group has not granted any share options under its share option plan since its adoption in October 2017, with no options exercised or cancelled during the period[54]. Foreign Exchange and Other Financial Information - The group recorded a net foreign exchange gain of HKD 32,874 during the period, contrasting with a foreign exchange loss of HKD 47,260 in the same period last year[62]. - There were no significant changes in the relationships with major customers, primarily Macau gaming operators, and suppliers during the period[61]. - As of September 30, 2023, the group had no major contingent liabilities or significant investments or acquisitions during the period[51][53].

（於開曼群島註冊成立的有限公司） 亞洲先鋒娛樂控股有限公司 Asia Pioneer Entertainment Holdings Limited 股份代號 : 8400 中期報告 2023 立足澳門，放眼亞洲 電子博彩設備 智能販賣機營運商 Asia Pioneer Entertainment Holdings Limited 亞洲先鋒娛樂控股有限公司 Interim Report 2023 中期報告 香港聯合交易所有限公司（「聯交所」）GEM（「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。 由於在GEM上市之公司一般為中小型公司，在GEM買賣之證券可能會較於聯交所主板買賣之證 券承受較大之市場波動風險，同時無法保證在GEM買賣之證券會有高流通量之市場。 香港交易及結算所有限公司以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，並明確表示概不會就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的 任何損失承擔任何責任 ...

（於開曼群島註冊成立的有限公司） 亞洲先鋒娛樂控股有限公司 Asia Pioneer Entertainment Holdings Limited 股份代號 : 8400 第一季度報告 2023 FIRST QUARTERLY REPORT 2023 立足澳門，放眼亞洲 電子博彩設備 智能販賣機營運商 (Incorporated in the Cayman Islands with limited liability) Stock Code : 8400 ELECTRONIC GAMING EQUIPMENT AND SMART VENDING SOLUTIONS IN MACAU AND ASIA 香港聯合交易所有限公司（「聯交所」）GEM（「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。 由於在GEM上市之公司一般為中小型公司，在GEM買賣之證券可能會較於聯交所主板買賣之證 券承受較大之市場波動風險，同時無法保證在GEM買賣之證券會有高流通量之 ...

Business Performance - The company experienced a significant decline in business due to the COVID-19 pandemic, with a reduction in employee count from 44 at the end of 2021 to 35 by the end of 2022[12]. - The overall gross profit of the group decreased from approximately HKD 0.9 million in the 2021 fiscal year to a gross loss of approximately HKD 0.1 million in the 2022 fiscal year[16]. - The group recorded a loss of approximately HKD 14.7 million in the 2022 fiscal year, an improvement from a loss of approximately HKD 23.1 million in the 2021 fiscal year, indicating a reduction in losses by about 36.5%[16]. - The company's revenue for the fiscal year 2022 increased by approximately 37.7% to about HKD 10.5 million, compared to approximately HKD 7.6 million in 2021[37]. - The smart vending machine business generated revenue of approximately HKD 0.9 million with a gross loss of about HKD 0.45 million during the fiscal year[29]. - The total revenue from the electronic gaming equipment business was approximately HKD 9.6 million, representing an increase of about 28.1% compared to approximately HKD 7.5 million in the 2021 fiscal year[22]. - Revenue from technical sales and distribution of electronic gaming equipment was approximately HKD 6.1 million, up about 21.2% from approximately HKD 5.0 million in the previous year[22]. - Revenue from consulting and technical services increased by approximately 67.9%, reaching about HKD 3.0 million compared to approximately HKD 1.8 million in the 2021 fiscal year[22]. - The overall gross profit margin for the electronic gaming equipment business was approximately 3.3%, down from approximately 12.3% in the 2021 fiscal year[22]. - The total gaming revenue in Macau for 2022 was MOP 42.55 billion, a year-on-year decline of 51.4%, marking the lowest annual total since 2004[26]. - The number of visitors to Macau in 2022 was 5.70 million, a decrease of 26.0% year-on-year, representing the lowest annual figure since 1999[26]. Cost Management - Monthly operating expenses were reduced from HKD 1.1 million in December 2021 to HKD 0.95 million in December 2022, following a 50% salary cut for three executive directors for six months[13]. - Operating expenses decreased by approximately 13% to about HKD 16.2 million in 2022, down from approximately HKD 18.7 million in 2021[39]. - The total capital expenditure for the vending machines was approximately HKD 2.7 million[29]. Future Outlook - The electronic gaming equipment and smart vending machine businesses were severely impacted, but the company is optimistic about recovery as travel restrictions ease[12]. - The company plans to focus on optimizing vending machine locations and reducing rental costs, while concentrating on best-selling products like the KATFFEE coffee vending machine[13]. - The company anticipates improvement in its overall smart vending machine business as the number of visitors and consumer spending in Macau is expected to rebound next year[13]. - The group plans to focus on restoring profitability in the coming year and is optimistic about the recovery of the gaming market in Macau[16]. - Several casinos have begun consulting the company for new electronic gaming equipment orders, indicating potential future demand[15]. Corporate Governance - The company is committed to good corporate governance to enhance shareholder value[78]. - The company has adopted the GEM Listing Rules and Corporate Governance Code applicable to the financial year ending December 31, 2022[79]. - The board of directors is responsible for overseeing the group's business management and overall performance, ensuring necessary financial and human resources are in place to achieve the group's goals[81]. - The board consists of six directors, with independent non-executive directors making up 50% of the board members, ensuring a strong independent element for effective judgment[88]. - The company emphasizes continuous growth and sustainable development, focusing on innovation and advanced, reliable products to meet societal needs[84]. - The board aims to maintain a balance between continuity of experience and renewal during the board's term[94]. - The company has established a whistleblowing policy to encourage employees to report misconduct, ensuring confidentiality and protection against retaliation[104]. - The company maintains a zero-tolerance approach towards corruption and has implemented policies to prevent bribery and fraud[105]. Risk Management - The company has established policies and procedures for risk management and internal control, with the board overseeing their effectiveness[145]. - The board believes that the risk management and internal control measures are adequate and effective for the current business environment[148]. - The external auditor has conducted an annual review of the company's risk management and internal control systems, including financial, operational, compliance, and IT controls[146]. - The board expects to review the risk management and internal control systems annually[149]. Employee and Management Information - As of December 31, 2022, the group had a total of 35 employees, down from 44 employees as of December 31, 2021, with employee costs amounting to approximately HKD 12.1 million in 2022, compared to HKD 13.5 million in 2021[47]. - The Chief Financial Officer has been with the group since 2013 and was appointed CFO in April 2018[69]. - The independent non-executive director has over 21 years of experience in accounting, auditing, and corporate advisory[70]. - The financial director has 20 years of experience in accounting and financial management[74]. - The sales director for Macau and Southeast Asia has over 35 years of work experience, with significant expertise in public relations and event management[75]. Financial Position - The company has no debt as of December 31, 2022, and its capital structure has not changed since its listing[41]. - The net loss after tax for the fiscal year 2022 was approximately HKD 14.7 million, an improvement from a net loss of about HKD 23.1 million in 2021[40]. - The group had no significant investments or acquisitions related to subsidiaries, associates, or joint ventures during the fiscal year 2022[44]. - The group reported a net foreign exchange loss of HKD 44,459 for the fiscal year 2022, a decrease from HKD 96,103 in the previous fiscal year, attributed to fluctuations in the USD/HKD exchange rate[55]. - The group had no significant contingent liabilities as of December 31, 2021, and December 31, 2022[46]. - The company has a dividend policy allowing shareholders to share in distributable profits while reserving sufficient reserves for future development[102]. - No dividends were declared or paid for the fiscal year 2022, consistent with the previous fiscal year[179]. - The board has resolved not to recommend any final dividend for the fiscal year 2022[180]. - As of December 31, 2022, the company had no distributable reserves available for shareholders according to the Cayman Islands Companies Law[190].