Financial Performance - The unaudited condensed consolidated results for the six months ended September 30, 2024, have been announced, with comparative figures for the same period in 2023[9]. - Revenue for the six months ended September 30, 2024, was HK$59,027,000, a decrease from HK$103,294,000 in the same period last year, representing a decline of approximately 42.8%[10]. - Gross profit for the same period was HK$11,461,000, down from HK$18,041,000, indicating a decrease of about 36.5%[10]. - The company reported a profit of HK$1,536,000 for the period, with a profit per share of HK$0.13[10]. - The consolidated profit before taxation for the six months ended September 30, 2024, was HK$2,290,000, compared to a loss of HK$ (428,000) in 2023, indicating a recovery in profitability[45]. - Other income for the period was HK$2,480,000, compared to a loss of HK$ (534,000) in the previous year, showing a positive turnaround[45]. - The Group's revenue decreased by approximately 42.9% to approximately HK$59,027,000 for the Period from approximately HK$103,294,000 for the Corresponding Period[113]. - Gross profit decreased by approximately 36.5% to approximately HK$11,461,000 for the Period from approximately HK$18,041,000 for the Corresponding Period, with a gross profit margin increase to 19.4%[114]. Cash Flow and Assets - Net cash generated from operating activities was HK$16,606,000, compared to a cash outflow of HK$10,349,000 in the previous year, showing a significant turnaround[16]. - Cash and cash equivalents at the end of the period increased to HK$89,707,000 from HK$23,514,000 at the beginning of the period, marking a substantial increase[16]. - Total assets as of September 30, 2024, were HK$198,725,000, slightly up from HK$196,656,000 as of March 31, 2024[11]. - The net current assets stood at HK$157,895,000, compared to HK$152,811,000 as of March 31, 2024, reflecting a positive trend[11]. - Cash at bank and on hand increased to HK$119,433,000 as of September 30, 2024, compared to HK$102,696,000 as of March 31, 2024[94]. - Bank deposits with maturities over three months rose to HK$89,707,000 as of September 30, 2024, from HK$23,514,000 as of March 31, 2024[94]. Expenses - The company incurred selling expenses of HK$10,223,000 and administrative expenses of HK$12,727,000 during the period[10]. - Selling expenses decreased sharply by approximately 44.0% to approximately HK$2,386,000 for the Period from approximately HK$4,260,000 for the Corresponding Period[121]. - Administrative expenses decreased by approximately 19.7% to approximately HK$10,223,000 from approximately HK$12,727,000 in the corresponding period[122]. - Staff costs, including directors' remuneration, totaled HK$6,510,000 for the period, down from HK$7,980,000 in the previous year, representing a reduction of approximately 18.4%[54]. Shareholder Information - As of September 30, 2024, the Company’s issued ordinary share capital was HK$11,923,077, divided into 1,192,307,692 shares[143]. - Mr. Li Wai Keung holds 204,640,000 shares, representing 17.16% of the Company’s issued share capital[142]. - Ms. Fong Wing Yan, as the spouse of Mr. Li, also holds 204,640,000 shares, equating to 17.16% of the issued share capital[148]. - Ms. Lam Hoi Yan is a beneficial owner of 65,000,000 shares, which is 5.45% of the issued share capital[148]. Corporate Governance - The Audit Committee reviewed the unaudited condensed consolidated financial statements for the six months ended 30 September 2024, confirming compliance with applicable accounting standards and GEM Listing Rules[156]. - The Company has complied with the Corporate Governance Code during the period, except for a deviation regarding the roles of the chairman and CEO[154]. - The Board composition includes Mr. Li Wai Keung as Chairman and Executive Director, with other executive and non-executive directors listed[158]. - The Company has not reported any conflicts of interest among its directors during the period[151]. Market and Operational Insights - The Group's principal activities include design, marketing, distribution, and retail sales of toys and related products, as well as providing agency services[32][35]. - The Group plans to expand its network beyond the ACG figure toys market to diversify income sources and enhance shareholder value[136]. - The Group's financial performance may be significantly impacted by the failure to obtain new orders[134]. - Ineffective quality control over suppliers and products could adversely affect the Group's business operations[135].

Financial Performance - For the six months ended September 30, 2024, the company reported revenue of HKD 59,027 thousand, an increase from HKD 47,566 thousand in the same period last year, representing a growth of approximately 24%[4] - The gross profit for the same period was HKD 11,461 thousand, down from HKD 18,041 thousand, indicating a decline of about 36%[4] - The company recorded a net profit of HKD 1,536 thousand for the period, compared to a loss of HKD 622 thousand in the previous year, marking a significant turnaround[4] - Basic and diluted earnings per share were HKD 0.13, compared to a loss per share of HKD 0.05 in the prior year[4] - The group reported a total revenue of HKD 59,027,000 for the six months ended September 30, 2024, compared to HKD 103,294,000 for the same period in 2023, reflecting a decrease of approximately 42.9%[18] - Revenue from ODM toy sales to licensed holders was HKD 27,789,000 for the six months ended September 30, 2024, down from HKD 51,738,000 in the same period last year, representing a decline of about 46.3%[18] - Revenue from self-branded licensed toys was HKD 9,588,000 for the six months ended September 30, 2024, compared to HKD 16,285,000 in the previous year, indicating a decrease of approximately 41.2%[18] - The group’s gross profit decreased by approximately 36.5% to about HKD 11,461,000, with a gross profit margin increasing from approximately 17.5% to 19.4%[59] Assets and Liabilities - Total assets as of September 30, 2024, were HKD 198,725 thousand, slightly up from HKD 196,656 thousand as of March 31, 2024[5] - The company’s total liabilities increased to HKD 36,578 thousand from HKD 25,225 thousand, representing a rise of approximately 45%[5] - As of September 30, 2024, total equity decreased to HKD 195,492 thousand from HKD 196,114 thousand as of April 1, 2023, reflecting a loss of HKD 622 thousand during the period[8] - The group’s total current assets, excluding financial instruments, amounted to HKD 17,263,000 as of September 30, 2024, compared to HKD 18,213,000 in the previous year[21] - Trade receivables decreased to HKD 11,647 thousand from HKD 21,892 thousand, indicating a reduction of about 47%[5] - The company’s retained earnings decreased to HKD 108,372 thousand from HKD 108,994 thousand, indicating a reduction in accumulated profits[8] Cash Flow - Net cash generated from operating activities was HKD 16,606 thousand, a significant improvement compared to a net cash outflow of HKD 10,349 thousand in the same period last year[9] - Cash and cash equivalents increased to HKD 89,707 thousand at the end of the period, up from HKD 23,514 thousand at the beginning of the period[9] - The company reported a net cash inflow from investing activities of HKD 51,377 thousand, compared to HKD 15,803 thousand in the previous year[9] - Interest income received during the period was HKD 1,984 thousand, an increase from HKD 830 thousand in the same period last year[9] Business Strategy and Operations - The company plans to continue focusing on market expansion and new product development to drive future growth[4] - The company continues to focus on its core business of designing, marketing, distributing, and retailing toys and related products[10] - The group is currently evaluating the impact of newly issued but not yet effective Hong Kong Financial Reporting Standards on its financial statements[16] - The group aims to leverage its advantages, particularly its diverse high-end toy product range, to achieve further business breakthroughs in the future[74] Governance and Compliance - The company’s board has approved the financial results after reasonable inquiries, ensuring the accuracy and completeness of the information provided[2] - The financial report indicates that the company is adhering to the same accounting policies as in the previous fiscal year, with no significant changes expected[12] - The board believes that the dual role of the chairman and CEO is beneficial for the management and business development of the group[85] - The audit committee has reviewed the unaudited condensed consolidated financial statements and believes they comply with applicable accounting standards and GEM listing rules[86] - The company has adhered to the corporate governance code and has not encountered any non-compliance issues during the reporting period[85] Employee and Customer Information - The group employed 33 employees in Hong Kong as of September 30, 2024, down from 35 employees on March 31, 2024[70] - Major customer A generated revenue of HKD 28,298 million for the six months ended September 30, 2024, down from HKD 53,712 million in the same period in 2023[25] - The group’s top five customers accounted for approximately 60% of total revenue, a slight decrease from 62% in the same period last year[18] Share Capital and Dividends - As of September 30, 2024, the issued share capital of the company is HKD 11,923,077, divided into 1,192,307,692 shares[77] - The board does not recommend the payment of an interim dividend for the period, consistent with the previous year[71] - The company has not declared or paid any dividends as of September 30, 2024, and September 30, 2023[51]

[Corporate Information](index=4&type=section&id=Corporate%20Information) This section details key corporate information, including board members, committees, and advisors, noting significant board composition changes - The report details key corporate information including the board of directors, committee structures, principal bankers (Hang Seng Bank), auditors (Privatco CPA Limited), and legal advisors[48](index=48&type=chunk)[49](index=49&type=chunk) - Multiple changes occurred in board membership during the reporting period, including the retirement of Non-executive Directors Mr. Li Ming Yeung and Mr. Ngai Ching on August 11, 2023, and the resignation and appointment of several Independent Non-executive Directors[48](index=48&type=chunk) [Chairman's Statement](index=6&type=section&id=Chairman%27s%20Statement) The Chairman acknowledges economic challenges, affirms stable performance, and outlines strategic adjustments for future growth - The Chairman acknowledges the Group faced significant economic difficulties during a challenging period, particularly impacted by the COVID-19 pandemic, but affirmed stable performance was maintained under these circumstances[26](index=26&type=chunk)[53](index=53&type=chunk) - Facing a severe economic climate, the Group is actively adjusting its business strategies, exploring new development opportunities, maintaining prudent operations, and optimizing internal management to enhance efficiency and reduce costs for sustainable development[27](index=27&type=chunk)[54](index=54&type=chunk) - The Group will continue to focus on its core businesses, advance diversified layouts, and believes that agile and flexible development strategies will enable it to turn crises into opportunities, enhancing competitiveness and risk resilience[30](index=30&type=chunk)[52](index=52&type=chunk) [Management Discussion and Analysis](index=7&type=section&id=Management%20Discussion%20and%20Analysis) This section reviews the Group's business performance, financial results, investments, and liquidity position [Business Review](index=7&type=section&id=Business%20Review) The Group primarily designs, markets, distributes, and retails toys, with proprietary licensed toy sales growing despite ODM decline, and is diversifying into smart healthcare and IT solutions Revenue Performance by Business Segment (Year Ended March 31) | Business Segment | FY2024 Revenue (HKD) | FY2023 Revenue (HKD) | Year-on-Year Change | | :--- | :--- | :--- | :--- | | Sales of ODM Toys | 90,316,000 | 114,835,000 | -21.4% | | Distribution of Imported Toys and Related Products | 66,802,000 | 68,645,000 | -2.7% | | Sales of Proprietary Licensed Toys and Related Products | 59,072,000 | 49,099,000 | +20.3% | | Agency Services for Engineering Projects | 3,000,000 | 3,384,000 | -11.3% | - While ODM toy sales decreased, they remain the largest portion of sales, with gross profit margin declining from **7.8% to 7.3%** primarily due to increased production costs from Chinese suppliers passed on to the Group[32](index=32&type=chunk) - The Group developed licensed toys using proprietary brands like 'SENTINEL/千值练', 'TOPI', and 'FLAME TOYS', with the delivery of a series of popular high-end robot figures driving significant revenue growth in this segment[32](index=32&type=chunk) [Financial Analysis](index=8&type=section&id=Financial%20Analysis) The Group's total revenue decreased by **7.1%** to **HKD 219.19 million**, impacting gross profit and margin, though net other income significantly increased Financial Performance Summary (Year Ended March 31) | Financial Metric | FY2024 (HKD) | FY2023 (HKD) | Year-on-Year Change | | :--- | :--- | :--- | :--- | | Revenue | 219,190,000 | 235,963,000 | -7.1% | | Cost of Sales | 181,352,000 | 190,227,000 | -4.7% | | Gross Profit | 37,838,000 | 45,736,000 | -17.3% | | Gross Profit Margin | 17.3% | 19.4% | -2.1pp | | Net Other Income | 1,837,000 | 651,000 | +182.2% | | Selling Expenses | 6,779,000 | 9,187,000 | -26.2% | | Administrative Expenses | 26,560,000 | 27,993,000 | -5.1% | | Finance Costs | 368,000 | 234,000 | +57.3% | | Income Tax Expense | 1,044,000 | 1,861,000 | -43.9% | - Net other income significantly increased by **182.2%**, primarily due to reduced foreign exchange losses from a slower appreciation of the US dollar and increased bank interest income from generally rising interest rates[59](index=59&type=chunk)[36](index=36&type=chunk)[91](index=91&type=chunk) - Selling expenses decreased by **26.2%**, mainly due to reduced expenditures on traditional marketing channels during the year[37](index=37&type=chunk)[60](index=60&type=chunk) [Significant Investments and Future Plans](index=10&type=section&id=Significant%20Investments%20and%20Future%20Plans) The Group disclosed no new significant investments this year, focusing on existing joint ventures in protective products, smart healthcare, and IT solutions for diversification and growth - The Group holds a **30%** equity interest in Grand Amuse Limited, a joint venture primarily engaged in the manufacturing and sale of protective products such as medical masks[68](index=68&type=chunk) - The Group holds a **30%** equity interest in DongYiQuan Network Technology Co., Ltd., which focuses on smart healthcare industry solutions, aiming to capitalize on the growth potential in smart eldercare services[45](index=45&type=chunk) - The Group acquired a **45%** equity interest in M.I.P. International Limited, which provides IT solutions to hotels, property developers, and the government in Hong Kong[97](index=97&type=chunk) [Liquidity, Financial Resources and Other Information](index=13&type=section&id=Liquidity%2C%20Financial%20Resources%20and%20Other%20Information) The Group maintains a sound financial position with a low debt-to-equity ratio and sufficient liquidity, with **35** employees, no dividend proposed, and no significant post-reporting events - The debt-to-equity ratio (total loans and borrowings/total equity) remained stable at approximately **0.02x**, indicating a sound and robust financial position[98](index=98&type=chunk) - As of March 31, 2024, the Group had **35** employees in Hong Kong, with total annual staff costs (including directors' emoluments) of approximately **HKD 15,808,000**, a decrease from **HKD 17,266,000** last year[98](index=98&type=chunk) - The Board of Directors does not recommend the payment of a dividend for the year ended March 31, 2024 (2023: Nil)[72](index=72&type=chunk)[99](index=99&type=chunk) - At the end of the reporting period, the Group had no significant contingent liabilities, and no material events occurred subsequent to the reporting period[73](index=73&type=chunk)[100](index=100&type=chunk) [Directors and Senior Management Profile](index=15&type=section&id=Directors%20and%20Senior%20Management%20Profile) This section provides biographical details and key responsibilities of the Group's executive, non-executive, and independent non-executive directors [Executive Directors](index=15&type=section&id=Executive%20Directors) The executive director team, led by Chairman and CEO Mr. Li Wai Keung, oversees business development, strategic planning, finance, and daily operations - Mr. Li Wai Keung, Group founder, serves as Chairman and Chief Executive Officer, possessing over **18** years of experience in the ACG toy industry[75](index=75&type=chunk)[103](index=103&type=chunk) - Mr. To Hoi Bun, Executive Director and Company Secretary, has over **23** years of experience in accounting and financial management[76](index=76&type=chunk)[104](index=104&type=chunk) - Ms. Li Kwai Fong, Executive Director and General Manager, joined the Group in 2006 and is primarily responsible for managing its general operations[81](index=81&type=chunk)[83](index=83&type=chunk) [Non-executive Directors](index=16&type=section&id=Non-executive%20Directors) Non-executive directors provide external perspectives and expertise to the Board, with Mr. Chu Wai Tak possessing extensive operational management experience, and two members retired during the period - Mr. Chu Wai Tak, appointed as a Non-executive Director in December 2021, has extensive experience in the operational management of biotechnology companies[81](index=81&type=chunk)[109](index=109&type=chunk) - Mr. Li Ming Yeung and Mr. Ngai Ching retired as Non-executive Directors on August 11, 2023[139](index=139&type=chunk)[113](index=113&type=chunk) [Independent Non-executive Directors](index=18&type=section&id=Independent%20Non-executive%20Directors) Independent non-executive directors provide independent judgment on company strategy, performance, and risk management, with diverse backgrounds ensuring board diversity and effective oversight, noting membership changes - Mr. Yu Pui Hang, Chairman of the Remuneration Committee, is a practicing solicitor in Hong Kong with extensive experience in legal and financial fields[117](index=117&type=chunk)[145](index=145&type=chunk) - Ms. Chow Chi Ling, Chairman of the Audit Committee, is a practicing accountant with over **15** years of experience in the auditing and financial management industry[149](index=149&type=chunk)[123](index=123&type=chunk) - Mr. Dong Wen was appointed as an Independent Non-executive Director on April 27, 2023, possessing over **26** years of experience in the banking and finance industry[152](index=152&type=chunk)[126](index=126&type=chunk) - Ms. Kwok Wai Ling and Mr. Cheng Pak Lam resigned as Independent Non-executive Directors on April 3, 2023, and April 27, 2023, respectively[156](index=156&type=chunk)[184](index=184&type=chunk) [Corporate Governance Report](index=22&type=section&id=Corporate%20Governance%20Report) This section details the Group's corporate governance practices, including Board structure, committees, risk management, internal controls, and shareholder relations, ensuring compliance [Board of Directors](index=23&type=section&id=Board%20of%20Directors) The Board oversees the Group's strategy, financial performance, risk management, and internal controls, adhering to governance codes, with the combined Chairman and CEO roles providing strong leadership, supported by three committees and regular meetings - The Company complied with the Corporate Governance Code, with the sole deviation being the combined roles of Chairman and Chief Executive Officer held by Mr. Li Wai Keung, which the Board believes provides strong and consistent leadership to the Group[390](index=390&type=chunk)[365](index=365&type=chunk) - The Board has established three committees: the Audit Committee, Remuneration Committee, and Nomination Committee, to assist in fulfilling its responsibilities[368](index=368&type=chunk)[370](index=370&type=chunk) - During the reporting period, the Board held **eight** meetings, with detailed attendance records for each director provided in the report[372](index=372&type=chunk)[400](index=400&type=chunk) [Board Committees](index=30&type=section&id=Board%20Committees) The Company has three Board committees—Audit, Remuneration, and Nomination—with significant independent non-executive director involvement, overseeing financial reporting, internal controls, executive remuneration, and board nominations - The Audit Committee comprises three Independent Non-executive Directors, with Ms. Chow Chi Ling as Chairman, responsible for reviewing financial information, overseeing the financial reporting system, and internal controls[375](index=375&type=chunk)[402](index=402&type=chunk) - The Remuneration Committee consists of three Independent Non-executive Directors, chaired by Mr. Yu Pui Hang, responsible for advising the Board on remuneration policies for directors and senior management[378](index=378&type=chunk) - The Nomination Committee comprises three Independent Non-executive Directors, with Mr. Dong Wen as Chairman, responsible for reviewing the Board's structure, size, composition, and diversity, and identifying suitable director candidates[408](index=408&type=chunk)[382](index=382&type=chunk) [Risk Management and Internal Control](index=34&type=section&id=Risk%20Management%20and%20Internal%20Control) The Board is responsible for the Group's internal control and risk management systems, deemed adequate and effective after independent review, complemented by whistleblowing and anti-corruption policies - The Board considers the Group's risk management and internal control systems to be adequate and effective for the year, with an annual review conducted by an independent external professional consultant[411](index=411&type=chunk)[441](index=441&type=chunk) - The Company has established a whistleblowing policy, providing confidential channels for employees and external parties to report any misconduct[416](index=416&type=chunk)[417](index=417&type=chunk) - The Group has formulated an anti-corruption policy prohibiting any form of corrupt practices, integrating it as part of its corporate governance framework[444](index=444&type=chunk)[445](index=445&type=chunk) [Shareholder Rights and Investor Relations](index=37&type=section&id=Shareholder%20Rights%20and%20Investor%20Relations) The Company maintains high transparency in investor relations through regular communication and timely online financial disclosures, outlining procedures for shareholder meetings and providing contact for inquiries - The Company is committed to maintaining high transparency and regularly holds meetings with institutional investors and analysts[419](index=419&type=chunk)[421](index=421&type=chunk) - The report details the procedures for shareholders holding **10%** or more of the shares to request the convening of an extraordinary general meeting[453](index=453&type=chunk)[478](index=478&type=chunk) - The Board is responsible for fulfilling corporate governance functions, including formulating and reviewing company policies, monitoring director training, and ensuring legal compliance[427](index=427&type=chunk) [Report of the Directors](index=40&type=section&id=Report%20of%20the%20Directors) This report outlines the Group's principal activities, dividend policy, major customer and supplier concentrations, and significant shareholdings, providing an overview of key operational and ownership aspects - During the reporting period, the Company's principal activity was investment holding, with its subsidiaries primarily engaged in the design, marketing, distribution, and retail of toys, and the provision of agency services[482](index=482&type=chunk) - The Board of Directors does not recommend the payment of a dividend for the year ended March 31, 2024[482](index=482&type=chunk) - For the year ended March 31, 2024, revenue from the Group's five largest customers accounted for approximately **53.8%** of total revenue, with the largest customer contributing **43.2%**; purchases from the five largest suppliers accounted for approximately **79.4%** of total purchases, with the largest supplier contributing **31.7%**[459](index=459&type=chunk)[484](index=484&type=chunk) - As of March 31, 2024, Chairman Mr. Li Wai Keung held **180,800,000** shares through his wholly-owned company, Infinite Force Holdings Ltd, representing **15.16%** of the Company's issued share capital[505](index=505&type=chunk) [Independent Auditor's Report](index=52&type=section&id=Independent%20Auditor%27s%20Report) This report presents the independent auditor's opinion on the Group's consolidated financial statements, highlighting key audit matters and confirming a true and fair view of the financial position and performance - Auditor Privatco CPA Limited issued an unmodified opinion on the Group's consolidated financial statements, affirming they present a true and fair view of the Group's financial position and performance[561](index=561&type=chunk) - A key audit matter identified was 'Timing of revenue recognition from sales of products', due to varying terms in sales contracts and revenue being a key performance indicator, posing risks of misstatement or manipulation, which the auditor addressed by examining key customer contracts and sampling transaction vouchers[563](index=563&type=chunk)[544](index=544&type=chunk)[545](index=545&type=chunk) [Consolidated Financial Statements](index=59&type=section&id=Consolidated%20Financial%20Statements) This section presents the Group's comprehensive financial statements, including profit or loss, financial position, cash flows, and detailed notes, providing a complete overview of its financial performance and health [Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=59&type=section&id=Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) The Group's profitability significantly declined this fiscal year, with reduced total revenue, gross profit, and profit attributable to equity holders, leading to lower basic earnings per share Consolidated Statement of Profit or Loss Summary (Year Ended March 31) | Item | FY2024 (HKD thousands) | FY2023 (HKD thousands) | | :--- | :--- | :--- | | Revenue | 219,190 | 235,963 | | Gross Profit | 37,838 | 45,736 | | Profit Before Tax | 1,530 | 7,623 | | **Profit for the Year** | **486** | **5,762** | | **Basic Earnings Per Share (HK cents)** | **0.04** | **0.49** | [Consolidated Statement of Financial Position](index=60&type=section&id=Consolidated%20Statement%20of%20Financial%20Position) As of March 31, 2024, the Group's total assets, liabilities, and net assets remained largely consistent with the prior year, with increased net current assets indicating improved short-term solvency Consolidated Statement of Financial Position Summary (As of March 31) | Item | 2024 (HKD thousands) | 2023 (HKD thousands) | | :--- | :--- | :--- | | Non-current Assets | 43,845 | 57,049 | | Current Assets | 178,036 | 199,793 | | **Total Assets** | **221,881** | **256,842** | | Current Liabilities | 25,225 | 56,618 | | Non-current Liabilities | 56 | 4,110 | | **Total Liabilities** | **25,281** | **60,728** | | **Net Assets (Total Equity)** | **196,600** | **196,114** | [Consolidated Statement of Cash Flows](index=63&type=section&id=Consolidated%20Statement%20of%20Cash%20Flows) This fiscal year, the Group's cash and cash equivalents decreased, with a net cash outflow from operating activities, continuous net outflow from investing activities primarily for bank deposits, and stable financing cash outflow Consolidated Statement of Cash Flows Summary (Year Ended March 31) | Item | FY2024 (HKD thousands) | FY2023 (HKD thousands) | | :--- | :--- | :--- | | Net Cash from Operating Activities | (28,146) | 10,262 | | Net Cash Used in Investing Activities | (60,565) | (42,664) | | Net Cash Used in Financing Activities | (4,270) | (2,743) | | **Net Decrease in Cash and Cash Equivalents** | **(92,981)** | **(35,145)** | | Cash and Cash Equivalents at End of Year | 23,514 | 116,495 | [Notes to the Consolidated Financial Statements](index=64&type=section&id=Notes%20to%20the%20Consolidated%20Financial%20Statements) The notes provide detailed explanations for financial statement items, covering accounting policies, segment reporting, revenue recognition, asset/liability details, related party transactions, and risk management, including revenue segmentation and risk exposure analysis Revenue from External Customers by Geographical Location (HKD thousands) | Region | FY2024 | FY2023 | | :--- | :--- | :--- | | Japan | 96,745 | 134,877 | | People's Republic of China | 40,823 | 31,144 | | Hong Kong | 31,090 | 25,300 | | United States | 24,266 | 17,180 | | Taiwan | 10,839 | 12,371 | | Others | 15,427 | 15,091 | | **Total** | **219,190** | **235,963** | - The Group's major customers are toy distributors in Japan, with the five largest customers contributing approximately **54%** of revenue for the year ended March 31, 2024 (2023: **65%**)[203](index=203&type=chunk)[221](index=221&type=chunk) - The Group is exposed to foreign currency risk, primarily involving the US dollar, Japanese Yen, and Renminbi, with the report detailing net exposures in these currencies[922](index=922&type=chunk)[939](index=939&type=chunk) [Particulars of Properties](index=161&type=section&id=Particulars%20of%20Properties) This section lists the Group's owned properties in Hong Kong, including a director's dormitory and a warehouse - The report lists two properties held by the Group in Hong Kong, one used as a director's dormitory and the other as a warehouse[1100](index=1100&type=chunk) [Financial Summary](index=162&type=section&id=Financial%20Summary) This section provides a concise overview of the Group's financial performance and position over the past five fiscal years, including key metrics like revenue, profit, and net assets Five-Year Financial Performance Summary (HKD thousands) | Fiscal Year | 2024 | 2023 | 2022 | 2021 | 2020 | | :--- | :--- | :--- | :--- | :--- | :--- | | Revenue | 219,190 | 235,963 | 216,485 | 211,467 | 206,965 | | Profit for the Year | 486 | 5,762 | 1,481 | 8,677 | 7,450 | | Net Assets | 196,600 | 196,114 | 180,352 | 178,871 | 170,194 |

[Financial Highlights](index=2&type=section&id=Financial%20Highlights) [Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=2&type=section&id=Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) The Group's total revenue decreased by 7.1% to HKD 219 million, with gross profit down 17.3% and profit attributable to owners of the Company significantly declining by 91.6% | Metric | 2024 (thousand HKD) | 2023 (thousand HKD) | YoY Change | | :--- | :--- | :--- | :--- | | Revenue | 219,190 | 235,963 | -7.1% | | Gross Profit | 37,838 | 45,736 | -17.3% | | Operating Profit | 1,898 | 7,857 | -75.8% | | Profit Before Tax | 1,530 | 7,623 | -79.9% | | Profit for the Year | 486 | 5,762 | -91.6% | | Basic Earnings Per Share (HK cents) | 0.04 | 0.49 | -91.8% | [Consolidated Statement of Financial Position](index=3&type=section&id=Consolidated%20Statement%20of%20Financial%20Position) As of March 31, 2024, total assets decreased to HKD 222 million, while net current assets increased and total equity remained stable, indicating a robust financial position | Metric | As of March 31, 2024 (thousand HKD) | As of March 31, 2023 (thousand HKD) | YoY Change | | :--- | :--- | :--- | :--- | | Non-current Assets | 43,845 | 57,049 | -23.1% | | Current Assets | 178,036 | 199,793 | -10.9% | | **Total Assets** | **221,881** | **256,842** | **-13.6%** | | Current Liabilities | 25,225 | 56,618 | -55.5% | | Non-current Liabilities | 56 | 4,110 | -98.6% | | **Total Liabilities** | **25,281** | **60,728** | **-58.4%** | | **Total Equity** | **196,600** | **196,114** | **+0.2%** | [Management Discussion and Analysis](index=17&type=section&id=Management%20Discussion%20and%20Analysis) [Business Review](index=17&type=section&id=Business%20Review) The Group's core business performance showed divergence, with ODM toy sales declining, imported toy distribution slightly down, and self-licensed toy sales achieving strong growth - The Group is primarily engaged in the design, marketing, distribution, and retail of toys and related products, and provides agency services[50](index=50&type=chunk) Revenue by Business Segment | Business Segment | 2024 Revenue (thousand HKD) | 2023 Revenue (thousand HKD) | YoY Change | Summary | | :--- | :--- | :--- | :--- | :--- | | Sales of ODM Toys | 90,316 | 114,835 | -21.4% | Both revenue and gross margin decreased, primarily due to rising production costs from Chinese suppliers | | Distribution of Imported Toys | 66,802 | 68,645 | -2.7% | Revenue slightly decreased, with high-end robot figures as the main category | | Sales of Self-Licensed Toys | 59,072 | 49,099 | +20.3% | Revenue significantly increased due to the launch of popular high-end robot figure toys | | Engineering Project Agency Services | 3,000 | 3,384 | -11.3% | Contributed stable but small revenue | [Financial Analysis](index=18&type=section&id=Financial%20Analysis) Total revenue decreased by 7.1% to HKD 219 million, primarily due to declining ODM toy sales, leading to a 17.3% drop in gross profit and weakened overall profitability - The decrease in revenue was primarily attributable to a significant decline in sales of ODM toys[56](index=56&type=chunk) - Gross profit and gross margin decreased from approximately **HKD 45.74 million (19.4%)** last year to approximately **HKD 37.84 million (17.3%)** this year[58](index=58&type=chunk) - Net other income significantly increased by **182.2%**, primarily due to reduced exchange losses and increased bank interest income[60](index=60&type=chunk) - Selling expenses decreased by **26.2%**, mainly due to reduced expenditures on traditional marketing channels[61](index=61&type=chunk) [Investments, Capital Structure, and Risk Management](index=20&type=section&id=Investments%2C%20Capital%20Structure%2C%20and%20Risk%20Management) The Group maintains strategic investments for diversification, exhibits a robust financial position with a low gearing ratio, and manages foreign exchange risk without hedging - The Group holds three significant investments[68](index=68&type=chunk)[70](index=70&type=chunk)[73](index=73&type=chunk)[74](index=74&type=chunk) - **Comba Development Limited (30% equity interest)**: Engaged in the manufacturing and sales of protective products such as masks - **Dongyiquan (30% equity interest)**: Focused on developing and applying smart healthcare solutions - **Wanpu International Limited (45% equity interest)**: Provides information technology solutions including network infrastructure and system security - The gearing ratio as of March 31, 2024, was approximately **0.02 times**, consistent with the prior year, indicating a sound and robust financial position[75](index=75&type=chunk) - Portions of the Group's income and expenses are denominated in USD and JPY, exposing it to foreign exchange risk, but management currently does not employ foreign currency hedging policies[76](index=76&type=chunk) [Other Information](index=22&type=section&id=Other%20Information) As of March 31, 2024, the Group's employee count decreased, the Board did not recommend an annual dividend, and no significant post-reporting events occurred - As of March 31, 2024, the Group employed **35** staff in Hong Kong, a decrease from **40** in the prior year, with total annual staff costs approximately **HKD 15.81 million**[79](index=79&type=chunk) - The Board does not recommend the payment of a dividend for the year ended March 31, 2024[80](index=80&type=chunk) [Notes to the Financial Statements](index=5&type=section&id=Notes%20to%20the%20Financial%20Statements) [Note 4 & 5 Revenue and Segment Information](index=7&type=section&id=Note%204%20%26%205%20Revenue%20and%20Segment%20Information) Total revenue was HKD 219 million, primarily from ODM, imported, and self-licensed toys, with Japan as the largest market and Customer A contributing over 43% of revenue Revenue by Business Segment | Business Type | 2024 (thousand HKD) | 2023 (thousand HKD) | | :--- | :--- | :--- | | Sales of ODM Toys to Licensees | 90,316 | 114,835 | | Distribution of Imported Toys and Related Products | 66,802 | 68,645 | | Sales of Self-Licensed Toys and Related Products | 59,072 | 49,099 | | Revenue from Engineering Project Related Agency Services | 3,000 | 3,384 | | **Total** | **219,190** | **235,963** | Revenue from External Customers by Geographical Region | Region | 2024 (thousand HKD) | 2023 (thousand HKD) | | :--- | :--- | :--- | | Japan | 96,745 | 134,877 | | People's Republic of China | 40,823 | 31,144 | | Hong Kong | 31,090 | 25,300 | | United States of America | 24,266 | 17,180 | | Others | 26,266 | 27,462 | | **Total** | **219,190** | **235,963** | - During the year, revenue from Customer A amounted to **HKD 94,681,000**, representing **43.2%** of the Group's total revenue[31](index=31&type=chunk) [Note 9 & 10 Dividends and Earnings Per Share](index=12&type=section&id=Note%209%20%26%2010%20Dividends%20and%20Earnings%20Per%20Share) The Board did not recommend a dividend, and basic earnings per share significantly decreased to HKD 0.04 cents due to a substantial profit decline - The Directors do not recommend the payment of a dividend for the years ended March 31, 2024, and 2023[38](index=38&type=chunk) | Metric | 2024 | 2023 | | :--- | :--- | :--- | | Profit for the Year Attributable to Owners of the Company (thousand HKD) | 486 | 5,762 | | Weighted Average Number of Ordinary Shares | 1,192,307,692 | 1,174,394,099 | | Basic Earnings Per Share (HK cents) | 0.04 | 0.49 | [Note 11, 12, 13 Key Balance Sheet Items](index=13&type=section&id=Note%2011%2C%2012%2C%2013%20Key%20Balance%20Sheet%20Items) Net trade receivables increased to HKD 21.89 million, while trade payables significantly decreased to HKD 8.25 million, improving working capital - Net trade and bills receivables increased from **HKD 13.30 million** in 2023 to **HKD 21.89 million** in 2024[41](index=41&type=chunk) - Trade payables decreased from **HKD 17.15 million** in 2023 to **HKD 8.25 million** in 2024[43](index=43&type=chunk)[44](index=44&type=chunk) [Corporate Governance](index=22&type=section&id=Corporate%20Governance) [Audit Committee](index=23&type=section&id=Audit%20Committee) The Audit Committee, composed of three independent non-executive directors, oversees financial reporting, risk management, and internal controls, having reviewed the annual audited results - The Audit Committee comprises three independent non-executive Directors: Ms. Chow Chi Ling (Chairperson), Mr. Yu Pui Hang, and Mr. Dong Wen[87](index=87&type=chunk) - The Audit Committee has reviewed the Group's audited consolidated results for the year ended March 31, 2024[87](index=87&type=chunk) - The external auditor, Privatco CPA Limited, has concurred that the financial figures in this results announcement are consistent with the audited consolidated financial statements[88](index=88&type=chunk)

Financial Results - The unaudited consolidated results for the six months ended September 30, 2023, have been announced, with comparative figures for the same period in 2022 provided[17]. - The report includes the unaudited condensed consolidated statement of profit or loss and other comprehensive income for the period[18]. - The financial results have not been audited but have been reviewed and approved by the audit committee of the Company[17]. - Revenue for the six months ended September 30, 2023, was HK$103,294,000, a decrease of 14.5% compared to HK$120,838,000 in the same period of 2022[19]. - Gross profit increased to HK$18,041,000, up 6.5% from HK$16,940,000 year-over-year[19]. - Loss before taxation improved to HK$428,000, significantly better than the loss of HK$2,900,000 in the prior year[19]. - Total comprehensive loss for the period was HK$622,000, a reduction of 82.8% compared to HK$3,620,000 in the previous year[19]. - The interim financial report for the six months ended September 30, 2023, has been prepared in accordance with the accounting policies adopted in the Group's annual financial statements for the year ended March 31, 2023[40]. - The Group's unaudited condensed consolidated interim financial statements do not include all information required for a full set of financial statements prepared in accordance with Hong Kong Financial Reporting Standards (HKFRSs)[34]. Revenue Breakdown - Revenue from sales of ODM toys to license holders decreased to HK$51,738,000, down 30% from HK$73,990,000 year-on-year[54]. - Distribution of imported toys and related products generated revenue of HK$32,271,000, an increase of 14.5% compared to HK$28,118,000 in the previous year[54]. - Revenue from sales of own licensed toys and related products rose to HK$16,285,000, up 7.4% from HK$15,155,000 in the same period last year[54]. - The Group's five largest customers contributed approximately 62% of total revenue, down from 78% in the corresponding period last year[55]. - Overall revenue decreased by approximately 14.5% to approximately HK$103,294,000 from HK$120,838,000, primarily due to a decrease in revenue from sales of ODM toys to license holders[150]. Cash Flow and Assets - Cash and cash equivalents at the end of the period were HK$120,184,000, compared to HK$107,109,000 at the end of the same period last year, reflecting a net increase[25]. - Net cash used in operating activities was HK$10,349,000, an improvement from HK$14,560,000 in the previous year[25]. - The company reported a net cash inflow from investing activities of HK$15,803,000, contrasting with a net outflow of HK$28,724,000 in the prior year[25]. - Trade receivables increased to HK$35,477,000 from HK$13,296,000, indicating a significant rise in outstanding customer payments[20]. - Non-current assets decreased to HK$51,713,000 from HK$57,049,000, primarily due to a reduction in property, plant, and equipment[20]. - Total equity as of September 30, 2023, was HK$195,492,000, slightly down from HK$196,114,000 at the end of March 2023[20]. Operational Changes - The Company has undergone changes in its board of directors, with several appointments and resignations noted[10]. - The Group's main business activities include the design, marketing, distribution, and retail sale of toys and related products, as well as providing agency services[31]. - The Group employed 35 staff in Hong Kong as of September 30, 2023, down from 40 as of March 31, 2023[191]. Risks and Compliance - The Company is positioned on the GEM market, which is designed for small and mid-sized companies, indicating a higher investment risk compared to other listings[2]. - There is a risk of high market volatility for securities traded on GEM, and no assurance is given regarding the liquidity of these securities[2]. - The Company has a responsibility to provide information in compliance with the GEM Listing Rules[4]. - The Group faces risks such as failure to obtain new orders, ineffective quality control, and potential delays in customer payments, which could adversely affect financial performance[196]. Future Outlook - The Board aims to expand the Group's network beyond the ACG figure toys market to broaden income sources and enhance shareholder value[197]. - The Group believes it will achieve a breakthrough in business performance by leveraging its wide variety of high-end toy products[198].

香港交易及結算所有限公司及聯交所對本公佈的內容概不負責，對其準 確性或完整性亦不發表任何聲明，並明確表示概不對因本公佈全部或任 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。 Amuse Group Holding Limited 佰 集 團 控 股 有 限 公 司 (cid:18211) （於開曼群島註冊成立之有限公司） （股份代號：8545） 截 至 二 零 二 三 年 九 月 三 十 日 止 六 個 月 之 中 期 業 績 公 佈 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 其 他 在聯交所上市的公司帶有較高投資風險。有意投資者應了解投資於該等 公司的潛在風險，並應經過審慎周詳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聯 交所主板買賣的證券承受較大的市場波動風險，同時無法保證在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 提供有關佰悅集團控股有限公司（「本公司」 ...

Financial Results - The unaudited consolidated results for the three months ended June 30, 2023, have been announced, with comparative figures for the same period in 2022 provided[16]. - The report includes a condensed consolidated statement of profit or loss and other comprehensive income for the period[16]. - The financial results have not been audited but have been reviewed and approved by the audit committee of the company[16]. - Revenue for the three months ended June 30, 2023, was HK$52,372,000, representing a 21.5% increase from HK$43,142,000 in the same period of 2022[18]. - Gross profit for the same period was HK$10,391,000, up 35.3% from HK$7,681,000 year-over-year[18]. - Profit for the period was HK$529,000, a significant recovery from a loss of HK$713,000 in the previous year[18]. - Basic and diluted earnings per share improved to HK$0.04 compared to a loss of HK$0.06 per share in the prior year[18]. - Total comprehensive income for the period was HK$529,000, contrasting with a total comprehensive loss of HK$713,000 in the same period last year[18]. - Profit before taxation for the period was approximately HK$529,000, a recovery from a loss of approximately HK$713,000 in the corresponding period[44]. Revenue Breakdown - Total revenue for the period reached HK$52,372,000, a rise from HK$43,142,000 in the same period last year, representing an increase of approximately 21.5%[39]. - Revenue from ODM toy sales to license holders increased by approximately 10.7% to HK$26,569,000 compared to HK$24,002,000 in the corresponding period[53]. - Revenue from the distribution of imported toys and related products surged by approximately 59.9% to HK$13,477,000, up from HK$8,429,000 in the previous year[54]. - The Group's five largest customers contributed approximately 68.9% of total revenue, down from 80.6% in the corresponding period[36]. - The Group's largest customer generated sales of HK$28,300,000, compared to HK$24,704,000 in the previous year[39]. Expenses and Costs - Administrative expenses increased to HK$5,966,000 from HK$4,957,000, reflecting a 20.4% rise[18]. - Selling expenses decreased slightly to HK$1,735,000 from HK$1,924,000, indicating a 9.8% reduction[18]. - Cost of sales increased by approximately 18.4% to approximately HK$41,981,000 from approximately HK$35,461,000 in the corresponding period[65]. - Staff costs rose slightly to HK$3,541,000 from HK$3,439,000 in the previous year[41]. - Other net expenses decreased by approximately 1,069.4% to approximately HK$1,076,000 from other income of approximately HK$111,000 in the corresponding period[73]. Corporate Governance and Compliance - The company emphasizes the importance of accurate and complete information in compliance with GEM Listing Rules[4]. - The company has confirmed that there are no misleading or deceptive statements in the report[4]. - The company is committed to transparency and accountability in its financial reporting[4]. - The Board does not recommend the payment of dividends for the period, consistent with the previous period where no dividends were paid[102]. - The Company has complied with the Corporate Governance Code during the period, except for a deviation regarding the roles of the chairman and CEO[134]. - The Audit Committee reviewed the unaudited condensed consolidated financial statements for the three months ended June 30, 2023, confirming compliance with applicable accounting standards[139]. Risks and Future Plans - The company has a higher risk profile, making it more suitable for professional and sophisticated investors[1]. - There is a risk of high market volatility for securities traded on GEM compared to those on the main board[2]. - The Group faces risks including the inability to secure new orders, which could significantly impact financial performance, and reliance on the senior management team's effectiveness[110]. - The Group plans to expand its network beyond the ACG figure toys market to diversify income sources and enhance shareholder value[111]. - The Board believes that leveraging its wide product portfolio of high-end toys will lead to a breakthrough in business performance in the future[112]. Share Capital and Ownership - As of June 30, 2023, Mr. Li Wai Keung holds a long position of 180,800,000 shares, representing 15.16% of the issued share capital of the Company[117]. - Infinite Force holds 180,800,000 shares, representing 15.16% of the Company's issued share capital[122]. - Ms. Fong Wing Yan, as the spouse of Mr. Li, also holds 180,800,000 shares, equating to 15.16% of the Company's issued share capital[122]. - Ms. Lam Hoi Yan is a beneficial owner of 65,000,000 shares, which is 5.45% of the Company's issued share capital[122]. - The Company's issued ordinary share capital was HK$11,923,077, divided into 1,192,307,692 shares of HK$0.01 each[130]. - The Company did not redeem any of its ordinary shares during the period, nor did it or its subsidiaries purchase or sell any ordinary shares[124]. - There were no options granted, exercised, lapsed, or cancelled under the Share Option Scheme as of June 30, 2023[133]. Audit and Review - The report will be available on the Stock Exchange's website for at least seven days from the posting date[5]. - The unaudited condensed consolidated financial statements for the three months ended June 30, 2023, have been reviewed by the audit committee and management, confirming compliance with applicable accounting standards and GEM listing rules[141]. - The Group has made sufficient disclosures in its financial reporting as of the report date[141].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈的內容 概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示概不對 因本公佈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。 Amuse Group Holding Limited 佰 集 團 控 股 有 限 公 司 (cid:18211) （於開曼群島註冊成立之有限公司） （股份代號：8545） 截 至 二 零 二 三 年 六 月 三 十 日 止 三 個 月 之 第 一 季 度 業 績 公 佈 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 其 他 在聯交所上市的公司帶有較高投資風險。有意投資者應了解投資於該等 公司的潛在風險，並應經過審慎周詳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聯 交所主板買賣的證券承受較大的市場波動風險，同時無法保證在GEM買 賣的證券會有高流通量的市場。 本公佈乃遵照聯交所GEM證券上市規則（「GEM上市規則」）而刊載，旨在 提供有關佰悅集團控 ...

Economic Impact - The past year was significantly impacted by the fifth wave of the COVID-19 pandemic, particularly affecting industries in Hong Kong and leading to a downturn in the Chinese economy [18]. - The lockdown in Shanghai for over two months severely affected the local economy, marking a turning point for economic deterioration in China [18]. - Rising global interest rates and rapid price increases contributed to a further decline in the sluggish Chinese economy, impacting consumer purchasing desire [18]. Revenue and Profitability - Revenue increased by approximately 9.0% to approximately HK$235,963,000 for the Year from approximately HK$216,485,000 for the Prior Year [37]. - Revenue from sales of ODM toys increased by approximately 6.6% to approximately HK$114,835,000 (2022: approximately HK$107,749,000) [26]. - Revenue from the distribution of imported toys and related products increased sharply by approximately 36.6% to HK$68,645,000 (2022: approximately HK$50,264,000) [28]. - Gross profit increased by approximately 31.2% to approximately HK$45,736,000 for the Year from approximately HK$34,873,000 for the Prior Year [39]. - The profit margin of the sales of ODM toys declined by approximately 29.7%, from 11.1% for the Prior Year to 7.8% for the Year [27]. - Revenue from sales of own licensed toys and related products dropped by 16.0% to approximately HK$49,099,000 (2022: approximately HK$58,472,000) [29]. - New revenue stream from agency services related to engineering projects contributed approximately HK$3,384,000 for the Year [36]. Costs and Expenses - Cost of sales increased by approximately 4.7% to approximately HK$190,227,000 for the Year from approximately HK$181,612,000 for the Prior Year [38]. - Sales cost increased by approximately 4.7% from HK$181,612,000 last year to approximately HK$190,227,000 this year, consistent with revenue growth [42]. - Other income, net decreased by approximately 83.3% to approximately HK$651,000 from approximately HK$3,898,000 last year, primarily due to foreign exchange losses [45]. - Selling expenses increased by approximately 12.0% from HK$8,200,000 last year to approximately HK$9,187,000 this year, mainly due to increased online marketing expenses [46]. - Administrative expenses rose approximately 3.5% from HK$27,036,000 last year to approximately HK$27,993,000 this year [48]. - Finance costs increased by approximately 116.7% to approximately HK$234,000 from approximately HK$108,000 last year, driven by higher mortgage interest and lease liabilities [49]. - Income tax expenses increased by approximately 13.8% to approximately HK$1,861,000 from approximately HK$1,636,000 last year [57]. Investments and Acquisitions - The Group has no definite future plans for material investments and capital assets, aside from those disclosed in the prospectus dated May 18, 2018 [58]. - The Group holds a 30% investment in a joint venture with Grand View Protective Products Limited, with a total investment of HK$10 million for setting up medical face mask production lines [59][60]. - The Group acquired 30% of DongYiQuan Network Technology Co., Ltd. for HK$10,000,000 and 100% of Forever Profits Development Limited for HK$7,000,000, with profit guarantees in place [65][67]. - The profit guarantee for the first year ending on June 30, 2023, remains unconfirmed, with disclosure expected in the first quarterly report [71]. - The company acquired approximately 45% of M.I.P. International Limited for HK$7,950,000, completed on October 26, 2022 [73]. Financial Position - As of March 31, 2023, the Group's gearing ratio was approximately 0.02 times, indicating a sound financial position [78]. - The total staff cost for the year amounted to approximately HK$17,266,000, an increase from approximately HK$15,884,000 in 2022 [81]. - The Group had no significant contingent liabilities as of March 31, 2023 [89]. - The Group's building, with a carrying value of HK$5,892,000, was mortgaged to secure banking facilities as of March 31, 2023 [80]. Corporate Governance - The company is committed to maintaining high standards of corporate governance, complying with all applicable code provisions of the Corporate Governance Code during the year [155]. - The Board will continuously review and improve corporate governance practices to safeguard shareholder interests and enhance group performance [156]. - The company adopted a code of conduct regarding securities transactions by directors, confirming compliance with the required standards during the year [156]. - The Board has appointed non-executive Directors with appropriate management experience to enhance the collective knowledge and skills of the Board [159]. - Independent Non-executive Directors (INEDs) account for 33% of the Board, ensuring independent judgment on strategic issues [166]. - The Group has adopted a Board diversity policy, considering factors like gender, age, and professional experience to enhance performance quality [159]. - The Board has established mechanisms for Directors to seek external independent advice to enhance decision-making credibility [170]. - The Board has delegated appropriate management and administrative functions to management while retaining clear oversight responsibilities [181]. Management and Leadership - The Chairman and Chief Executive Officer roles are held by Mr. Li, who has been managing the Group since 2004, providing strong leadership [173]. - All directors participated in ongoing professional development as per code provision A.6.5, ensuring they remain updated on significant changes affecting the Group [177]. - The Board held a total of ten meetings during the year, with attendance rates for executive directors ranging from 87.5% to 100% [190]. - The Board has established three committees: Audit Committee, Remuneration Committee, and Nomination Committee, to assist in fulfilling its duties [182]. Audit and Remuneration Committees - The Audit Committee consists of three independent non-executive Directors, including Ms. Chow Chi Ling Janice as Chairlady, Mr. Yu Pui Hang, and Mr. Tung Man [195]. - The Audit Committee held a meeting on June 30, 2023, to review and approve the annual financial results for the year ended March 31, 2023 [197]. - The Audit Committee is required to meet at least four times a year, and the attendance record shows Mr. Yu Pui Hang attended all four meetings [199]. - The Remuneration Committee also consists of three independent non-executive Directors, with Mr. Yu Pui Hang as Chairman [200]. - The Audit Committee's main duties include overseeing the Group's financial reporting system and internal control systems [195].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈之內容 概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對 因本公佈全部或任何部份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。 Amuse Group Holding Limited 佰 集 團 控 股 有 限 公 司 (cid:18211) （於開曼群島註冊成立之有限公司） （股份代號：8545） 全 年 業 績 公 佈 截 至 二 零 二 三 年 三 月 三 十 一 日 止 年 度 香港聯合交易所有限公司（「聯交所」）GEM的特色 GEM乃 為 較 於 聯 交 所 上 市 的 其 他 公 司 帶 有 更 高 投 資 風 險 的 公 司 提 供 上 市 的 市 場。有 意 投 資 者 應 瞭 解 投 資 於 該 等 公 司 的 潛 在 風險，並 應 經 過 審 慎周詳考慮後方作出投資決定。GEM的較高風險及其他特色表示GEM較 適合專業及其他資深投資者。 由於GEM上市公司新興的性質使然，在GEM買賣的證券可能會承受較於 聯交所主板買賣的證券為高的市場波動風險，同時亦無法保證在GEM買 賣的證券會有高流通量的市場。 香港交易 ...