（於開曼群島註冊成立的有限公司） （股份代號：8612） 董事會會議日期 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示 概 不 就 因 本 公 告 全 部 或 任 何 部 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。 執行董事 張 偉 World Super Holdings Limited 維亮控股有限公司 維 亮 控 股 有 限 公 司（「本公司」）董 事（「董 事」）會（「董事會」）謹 此 宣 佈，董 事 會 會 議 將 於 二 零 二 五 年 八 月 二 十 九 日（星 期 五）舉 行，以（其 中 包 括）考 慮 及 通 過 本 公 司 及其附屬公司截至二零二五年六月三十日止六個月之未經審核綜合中期業績 及 其 刊 發，以 及 考 慮 派 發 中 期 股 息 之 建 議（如 有）。 承董事會命 維亮控股有限公司 本公告遵照GEM上 市 規 則 的 規 定 提 供 有 關 本 公 司 的 資 料。各 董 事 共 同 及 ...

FF301 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: 維亮控股有限公司 (於開曼群島註冊成立的有限公司) 呈交日期: 2025年8月7日 I. 法定/註冊股本變動 FF301 II. 已發行股份及/或庫存股份變動 | 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) | 08612 | 說明 | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 103,680,000 | | 0 | | 103,680,000 | | 增加 / 減少 (-) | | | 0 | | | | | | 本月底結存 | | | 103,680,000 | | 0 | | 103,680,000 | 第 2 頁 共 10 頁 v ...

Company Overview - Viliang Holdings Limited primarily engages in providing rental services for construction machinery such as crawler cranes, rotary drilling rigs, and hydraulic milling machines in Hong Kong and Macau [2] - The company has over 21 years of experience in the construction machinery business and is recognized for its good reputation and track record in the Hong Kong construction industry [2] Financial Performance - As of December 31, 2024, Viliang Holdings reported total revenue of HKD 15.0082 million, a decrease of 29.81% year-on-year [1] - The net profit attributable to shareholders was HKD -26.5736 million, an increase of 21.87% year-on-year [1] - The gross profit margin stood at 12.2%, with a debt-to-asset ratio of 55.48% [1] Stock Performance - As of June 11, the stock price of Viliang Holdings was HKD 0.106 per share, reflecting a rise of 15.22% with a trading volume of 335,000 shares and a turnover of HKD 33,100 [1] - Over the past month, the stock has seen a cumulative decline of 8%, and a year-to-date decline of 23.33%, underperforming the Hang Seng Index by 20.45% [1] Industry Valuation - The average price-to-earnings (P/E) ratio for the industrial engineering sector is 14.11 times, with a median of 2.35 times [1] - Viliang Holdings has a P/E ratio of -0.33 times, ranking 198th in the industry [1] - Comparatively, other companies in the sector have P/E ratios ranging from 0.32 times to 2.35 times [1]

Financial Performance - For the fiscal year ending December 31, 2024, the company reported total revenue of approximately HKD 16.2 million, a decrease of about 30.0% or HKD 6.9 million compared to HKD 23.1 million for the fiscal year ending December 31, 2023[10]. - The annual loss from continuing operations decreased from approximately HKD 36.7 million for the fiscal year ending December 31, 2023, to approximately HKD 28.7 million for the fiscal year ending December 31, 2024[10]. - Total assets as of December 31, 2024, were HKD 31.0 million, down from HKD 50.6 million in 2023, representing a decrease of approximately 38.7%[9]. - Total liabilities increased to HKD 17.2 million in 2024 from HKD 10.9 million in 2023, marking an increase of approximately 57.5%[9]. - The company's net asset value decreased to HKD 13.8 million in 2024 from HKD 39.7 million in 2023, a decline of approximately 65.2%[9]. - The total revenue from continuing operations for the year ended December 31, 2024, was approximately HKD 16.2 million, a decrease of about 30.0% or HKD 6.9 million compared to HKD 23.1 million for the year ended December 31, 2023[14]. - The total gross profit from continuing operations for the year ended December 31, 2024, was approximately HKD 2.0 million, down about 44.4% or HKD 1.6 million from HKD 3.6 million for the year ended December 31, 2023[14]. - The gross profit margin for the year ended December 31, 2024, decreased to approximately 12.3%[14]. - The net loss for the year ended December 31, 2024, was approximately HKD 28.7 million, reduced from HKD 36.7 million for the year ended December 31, 2023[14]. - The loss per share from continuing operations for the year ended December 31, 2024, was approximately HKD 0.3255[14]. Revenue Breakdown - Revenue from machinery rental services decreased from approximately HKD 9.9 million for the year ended December 31, 2023, to approximately HKD 5.3 million for the year ended December 31, 2024[17]. - Total sales from the sale of machinery, tools, and parts decreased from approximately HKD 4.0 million for the year ended December 31, 2023, to approximately HKD 0.8 million for the year ended December 31, 2024[18]. - Revenue from transportation and other services decreased from approximately HKD 0.8 million for the year ended December 31, 2023, to approximately HKD 46,000 for the year ended December 31, 2024[19]. - The construction services business generated revenue of HKD 7.7 million for the year ended December 31, 2024, compared to HKD 8.0 million for the year ended December 31, 2023[21]. - The lending business generated revenue of approximately HKD 0.8 million for the year ending December 31, 2024, compared to HKD 42,000 in 2023[29]. - The newly launched car rental service generated revenue of approximately HKD 1.5 million for the year ending December 31, 2024[30]. Management and Governance - The company appointed Mr. Su Binggen as the executive director and CEO, who has over 30 years of experience in the construction machinery rental and equipment trading industry[53]. - Mr. Liu Desheng, with over 10 years of experience in the real estate sector, was appointed as an executive director in December 2020[54]. - The company has a strong management team with members holding significant experience in finance, real estate, and project management[57][59]. - The company is committed to improving its financial management and corporate governance practices, as evidenced by the appointment of experienced professionals in key roles[57]. - The company aims to leverage its management's extensive industry experience to explore new business opportunities and market expansion[54][59]. - The company has appointed several independent non-executive directors to strengthen its governance and oversight[60]. - The board consists of ten members, including seven executive directors and three independent non-executive directors, ensuring a balanced distribution of power and authority[70]. - The company has adopted a set of guidelines for directors' securities trading, ensuring compliance with GEM listing rules[68]. - The company is committed to high standards of corporate governance and has complied with the GEM listing rules[65]. Risk Management and Compliance - The company is focused on risk management and compliance, with a dedicated team overseeing these areas[59]. - The board has delegated the responsibility for reviewing the risk management and internal control systems to the audit committee, which conducts annual assessments[113]. - The company has implemented a fair disclosure policy to ensure that information is widely and publicly disclosed through financial reports and announcements[116]. - The company has complied with applicable laws and regulations without any significant violations during the year ending December 31, 2024[139]. Shareholder Communication and Dividends - The company has established multiple channels for communication with shareholders to ensure timely access to information[122]. - The company reported no final dividend for the year ending December 31, 2024[129]. - The company's available distributable reserves as of December 31, 2024, were approximately zero HKD[135]. - Shareholders have the right to request a special general meeting if they hold at least 10% of the paid-up capital of the company[118]. Corporate Social Responsibility - The company has maintained its commitment to minimizing environmental impact and ensuring employee welfare without any recorded violations[128]. Stock Option Plan - The company has adopted a share option scheme to incentivize directors and eligible participants[158][160]. - The exercise price for the share options will be determined by the board and must be at least the higher of the closing price on the grant date or the average closing price over the previous five trading days[166]. - The total number of shares issued upon the exercise of all options granted under the share option plan cannot exceed 10% of the shares issued at the time of listing, which is 60,000,000 shares based on 600,000,000 shares issued at listing[167]. - Options must be exercised within a maximum period of ten years from the grant date, subject to performance targets and other conditions set by the board[168]. - The company must seek shareholder approval for any grant of options that exceeds the plan authorization limit, and must provide detailed information in a circular to shareholders[167]. - The company has proposed a stock option plan that requires approval from independent non-executive directors and shareholders if it exceeds 0.1% of issued shares or a value of over HKD 5 million[182].

Financial Performance - For the fiscal year ending December 31, 2024, the total revenue was HKD 16,206,839, a decrease of 29.8% compared to HKD 23,088,446 in 2023[4] - The gross profit for the year was HKD 1,977,697, down from HKD 3,601,886, reflecting a significant decline in profitability[4] - The net loss for the year was HKD 28,695,979, compared to a net loss of HKD 36,727,040 in the previous year, indicating an improvement in loss by 21.5%[4] - The group reported a pre-tax loss of HKD 28,688,321 for the year[26] - The group’s annual loss decreased from approximately HKD 36.7 million for the year ended December 31, 2023, to approximately HKD 28.7 million for the year ended December 31, 2024[73] Assets and Liabilities - Total assets decreased from HKD 40,129,961 in 2023 to HKD 14,079,710 in 2024, a reduction of 64.9%[6] - The company's cash and cash equivalents dropped from HKD 11,116,565 in 2023 to HKD 5,758,476 in 2024, a decline of 48.3%[6] - The total equity decreased from HKD 39,692,704 in 2023 to HKD 13,802,489 in 2024, a decrease of 65.2%[7] - Current liabilities increased from HKD 10,470,082 in 2023 to HKD 16,925,551 in 2024, an increase of 61.8%[6] - As of December 31, 2024, the company's net current liabilities amounted to HKD 4,439,524, indicating significant uncertainty regarding its ability to continue as a going concern[13] Revenue Breakdown - Machine rental income decreased to HKD 5,333,709 from HKD 9,910,419, representing a decline of 46.6%[23] - Lending business revenue increased to HKD 818,932 from HKD 420,000, showing a growth of 95.0%[23] - Total sales of machinery, tools, and parts dropped to HKD 787,446 from HKD 3,981,456, a decrease of 80.2%[23] - Construction service revenue was HKD 7,749,283, slightly down from HKD 7,964,271, a decrease of 2.7%[23] - Transportation and other services revenue fell significantly to HKD 46,000 from HKD 812,300, a decline of 94.3%[23] Operational Measures - The company is implementing plans and measures to enhance cost control and improve operational efficiency to boost profitability and cash flow[17] - The company continues to explore fundraising activities as necessary to support its operations[17] - The board believes that the company will have sufficient working capital to meet its financial obligations for at least the next twelve months[14] Financial Reporting Standards - The financial statements are prepared in accordance with all applicable Hong Kong Financial Reporting Standards[11] - The group has adopted the Hong Kong Financial Reporting Standard No. 15 for revenue recognition, impacting the reporting of construction service contracts[23] - The board is currently assessing the impact of the new and revised Hong Kong Financial Reporting Standards on the consolidated financial statements[19][21] - The new Hong Kong Financial Reporting Standard No. 18 introduces significant changes to the presentation of financial statements, enhancing comparability and transparency[20] Shareholder Information - No dividends were declared or proposed for the year ended December 31, 2024, consistent with the previous year[35] - The company completed a placement of 172,800,000 shares at a price of HKD 0.01764 per share, raising a net amount of HKD 3,002,210 after deducting direct costs[44] - The annual performance announcement will be published on the Hong Kong Stock Exchange website and the company's website, with the annual report for the year ending December 31, 2024, to be sent to shareholders in due course[88] Governance and Compliance - The board of directors includes several executive and independent non-executive directors, ensuring a diverse governance structure[91] - The announcement complies with GEM listing rules, confirming the accuracy and completeness of the information provided[92] - The announcement will be available on the Hong Kong Stock Exchange website for at least seven days from the publication date[93]

Credit Loss Provisions - The expected credit loss provision for trade receivables is HKD 7,432,108, while the provision for other receivables is HKD 3,300,000[2]. - The expected credit loss provision for a specific customer, primarily engaged in construction services, amounts to approximately HKD 7,241,000[3]. - The customer has been unable to settle outstanding payments due to cash flow constraints from major contractors, impacting their ability to pay for machinery rental services[5]. - The company has recognized a full impairment provision for the overdue receivables as of December 31, 2023, considering the long-standing overdue status[10]. Sale Agreement Details - The sale agreement with a buyer involved a total consideration of HKD 8,300,000, with HKD 2,000,000 paid in cash at completion and the remaining HKD 6,300,000 due within one year[7]. - As of December 31, 2023, the outstanding balance owed by the buyer is HKD 3,300,000, which corresponds to the total amount disclosed in the annual report[8]. - The company believes the likelihood of recovering the outstanding balance from the buyer is low, given the lack of communication from the buyer since the end of 2023[9]. Announcement Compliance - The announcement complies with GEM listing rules and aims to provide relevant company information[12]. - Directors confirm that the information contained in the announcement is accurate and complete in all material aspects[12]. - The announcement will be published on the Hong Kong Stock Exchange website for at least seven consecutive days[12].

Financial Performance - For the six months ended June 30, 2024, the company's revenue was HKD 7,453,571, a decrease of 30% compared to HKD 10,663,824 for the same period in 2023[8]. - Gross profit for the same period was HKD 710,615, down 74% from HKD 2,743,264 in 2023[8]. - The company reported a loss of HKD 12,735,955 for the period, which is a 27% increase compared to a loss of HKD 10,037,162 in the previous year[8]. - Loss excluding gains or losses from the sale of machinery and equipment and losses from the sale of subsidiaries was HKD 12,733,960, representing a 48% increase from HKD 8,612,779 in 2023[8]. - The company reported a loss before tax of HKD 12,735,955, compared to a loss of HKD 10,568,593 in the previous year, indicating a worsening financial performance[45]. - The group recorded a net loss of approximately HKD 12.7 million for the six months ended June 30, 2024, compared to a net loss of approximately HKD 10.0 million for the same period in 2023, representing an increase of 27%[25]. - The basic and diluted loss per share for the six months ended June 30, 2024, was HKD 1.48, compared to HKD 1.16 in the same period of 2023[45]. - The company reported a pre-tax loss of HKD 10,568,593 for the six months ended June 30, 2024, compared to a pre-tax loss of HKD 10,037,162 for the same period in 2023[64]. Revenue Breakdown - Total revenue for the six months ended June 30, 2024, was HKD 7,453,571, a decrease of 30.7% compared to HKD 10,663,824 for the same period in 2023[60]. - Construction services revenue amounted to HKD 4,186,148, up 74.8% from HKD 2,394,153 in the previous year[60]. - Machine rental income decreased to HKD 2,168,419 from HKD 7,289,656, representing a decline of 70.2%[60]. - Loan interest income increased significantly to HKD 522,000 from HKD 150,000, marking a growth of 248%[60]. - The geographical revenue breakdown indicated HKD 7,260,469 from Hong Kong and HKD 193,102 from Japan[60]. Operational Challenges - The economic environment in Hong Kong and China continues to face significant challenges, impacting the company's operations[6]. - The company acknowledges the pressure on its operations due to unfavorable investment sentiment and market volatility[6]. - The management is concentrating efforts on providing a broader range of services in response to the adverse investment climate[6]. - The company expressed gratitude for the continued support from shareholders and business partners amid the challenging market conditions[6]. Cash Flow and Liquidity - The group had cash and bank balances of approximately HKD 3.3 million as of June 30, 2024, down from approximately HKD 11.1 million as of December 31, 2023, indicating a decrease of 70.3%[26]. - The net cash used in operating activities for the six months ended June 30, 2024, was HKD (6,298,803), compared to HKD (1,793,740) for the same period in 2023, indicating a significant increase in cash outflow[50]. - The total cash and cash equivalents decreased to HKD 3,333,645 as of June 30, 2024, down from HKD 5,659,959 at the end of the same period in 2023, showing a decline in liquidity[50]. - The cash and cash equivalents at the beginning of the period were HKD 11,116,565, compared to HKD 7,462,725 at the same time last year, highlighting a substantial initial cash position[50]. - The impact of foreign exchange fluctuations resulted in a decrease of HKD (83,506) in cash and cash equivalents during the period[50]. Administrative and Operating Expenses - Administrative expenses increased to approximately HKD 11.3 million for the six months ended June 30, 2024, up from approximately HKD 8.4 million for the same period in 2023, reflecting a rise of 34.5%[23]. - The company's sales and service costs decreased to approximately HKD 6.7 million for the six months ended June 30, 2024, from approximately HKD 7.9 million for the same period in 2023, primarily due to reduced depreciation of machinery and equipment[21]. - The company’s administrative expenses, sales and distribution expenses, and financing costs contributed to the overall pre-tax loss, totaling HKD 9,493,157[62]. Assets and Liabilities - Total assets less current liabilities as of June 30, 2024, were HKD 27,101,625, a significant decrease from HKD 40,129,961 as of December 31, 2023[47]. - The company's net assets as of June 30, 2024, were HKD 26,911,560, down from HKD 39,692,704 at the end of 2023[47]. - The total liabilities reached 14,560,011 as of June 30, 2024, compared to 5,094,974 as of December 31, 2023, reflecting an increase of around 186.5%[74]. - Trade payables increased to 5,253,125 as of June 30, 2024, compared to 1,055,213 as of December 31, 2023, marking a rise of about 396.5%[74]. - The company recorded accrued expenses of 6,784,916 as of June 30, 2024, up from 4,014,277 as of December 31, 2023, indicating a growth of approximately 68.5%[74]. Shareholder and Governance - The company did not declare or pay any dividends for the six months ended June 30, 2024, nor since the reporting period[69]. - The number of issued and fully paid ordinary shares remained at 864,000,000 as of June 30, 2024, unchanged from December 31, 2023[76]. - The company has adopted a code of conduct for securities trading by directors, ensuring compliance with relevant regulations[79]. - The audit committee, composed of three independent non-executive directors, has reviewed the unaudited interim results for the six months ended June 30, 2024, and found them compliant with applicable accounting standards[92].

Company Overview - World Super Holdings Limited announced its unaudited consolidated interim results for the six months ending June 30, 2024[1]. - The company is registered in the Cayman Islands and trades under stock code 8612[4]. - The company operates from its headquarters located at 34/F, AIA Tower, 183 Electric Road, North Point, Hong Kong[8]. - The board includes executive directors and independent non-executive directors, ensuring a diverse governance structure[8]. Financial Performance - Revenue for the six months ended June 30, 2024, was approximately HKD 7.45 million, a decrease of 30% compared to HKD 10.66 million for the same period in 2023[11]. - Gross profit for the same period was HKD 710,615, down 74% from HKD 2.74 million in 2023[11]. - The net loss for the six months ended June 30, 2024, was HKD 12.74 million, an increase of 27% from a loss of HKD 10.04 million in 2023[11]. - Total revenue decreased from approximately HKD 10.7 million for the six months ended June 30, 2023, to approximately HKD 7.5 million for the six months ended June 30, 2024, a decline of about 30%[23]. - The company reported a loss before tax of HKD 12,735,955, compared to a loss of HKD 10,568,593 in the previous year, indicating a deterioration in financial performance[48]. - The company reported a pre-tax loss of HKD 12,650,547 for the six months ended June 30, 2024, compared to a pre-tax loss of HKD 10,568,593 in the same period of 2023[67]. Revenue Breakdown - The construction services revenue, particularly from the Hong Kong market, was negatively impacted due to a decline in the total trading volume of the Hong Kong stock market, which fell by approximately 30%[11]. - Revenue from foundation engineering increased to approximately HKD 4.2 million, up from HKD 2.4 million in the previous year[16]. - The revenue from machinery leasing services decreased from approximately HKD 7.3 million to HKD 2.2 million due to reduced demand for the owned leasing fleet[13]. - Loan interest income from the lending business was approximately HKD 522,000, a significant increase from HKD 150,000 in the same period last year[20]. - Construction services revenue amounted to HKD 4,186,148 for the six months ended June 30, 2024, compared to HKD 2,394,153 in 2023, indicating an increase of approximately 74.7%[63]. - Machinery leasing income decreased to HKD 2,168,419 for the six months ended June 30, 2024, down from HKD 7,289,656 in 2023, reflecting a decline of approximately 70.2%[63]. Expenses and Liabilities - Administrative expenses increased to approximately HKD 11.3 million for the six months ended June 30, 2024, up from approximately HKD 8.4 million for the same period in 2023[26]. - The total liabilities increased to HKD 19,343,843 as of June 30, 2024, from HKD 10,470,082 as of December 31, 2023, indicating a rise of approximately 84.5%[50]. - The company incurred a total comprehensive expense of HKD (10,037,162) for the six months ended June 30, 2023, and HKD (12,781,144) for the same period in 2024, indicating an increase in losses[51]. Cash Flow and Assets - Cash and bank balances decreased to approximately HKD 3.3 million as of June 30, 2024, down from approximately HKD 11.1 million as of December 31, 2023[29]. - The net cash used in operating activities for the six months ended June 30, 2024, was HKD (6,298,803), compared to HKD (1,793,740) for the same period in 2023, indicating a significant increase in cash outflow[53]. - As of June 30, 2024, the total assets decreased to HKD 27,101,625 from HKD 40,129,961 as of December 31, 2023, representing a decline of approximately 32.5%[50]. Corporate Governance - The announcement complies with the GEM Listing Rules, ensuring the accuracy and completeness of the information provided[3]. - The board of directors collectively and individually accepts full responsibility for the accuracy of the announcement[3]. - The company is committed to high standards of corporate governance and has adhered to the GEM Listing Rules during the reporting period[94]. - The audit committee, composed of three independent non-executive directors, has reviewed the unaudited interim results for the six months ending June 30, 2024, ensuring compliance with applicable accounting standards[95]. Risk Management - The company emphasizes the potential risks associated with investing in GEM-listed companies, which are generally smaller and may have higher volatility[5]. - The company faced operational, credit, and market risks, with management actively monitoring and managing these risks[32][34][35]. - The company faced risks related to a concentrated customer base, which could adversely affect operations and financial performance if major customers experience losses[45]. Employee and Shareholder Information - Total employee costs for the six months ended June 30, 2024, were approximately HKD 6.0 million, an increase from HKD 5.5 million in the same period of 2023[40]. - The company employed 15 full-time employees and 2 part-time employees as of June 30, 2024, compared to 13 full-time and 2 part-time employees in the previous year[40]. - The basic loss per share attributable to the company's owners for the six months ended June 30, 2024, was HKD (1.48), compared to HKD (1.16) for the same period in 2023, reflecting an increase in loss[73]. - The total number of issued ordinary shares remained at 864,000,000 for both June 30, 2024, and December 31, 2023[79].

Financial Performance - The total revenue from continuing operations for the year ended December 31, 2023, was approximately HKD 23.1 million, representing an increase of about 41.7% or HKD 6.8 million compared to HKD 16.3 million for the year ended December 31, 2022[14]. - The annual loss from continuing operations decreased from approximately HKD 33.2 million for the year ended December 31, 2022, to approximately HKD 36.7 million for the year ended December 31, 2023, primarily due to increased losses from the sale of machinery and equipment, impairment losses under expected credit loss models, and increased administrative expenses[18]. - The company reported a gross profit of HKD 3.6 million for the year ended December 31, 2023, down from HKD 5.1 million in 2022[14]. - The total gross profit from continuing operations for the year ended December 31, 2023, was approximately HKD 3.6 million, a decrease of about HKD 1.5 million or 29.4% from approximately HKD 5.1 million for the previous year[22]. - The company's loss for the year increased from approximately HKD 33.2 million for the year ended December 31, 2022, to approximately HKD 36.7 million for the year ended December 31, 2023[22]. - The gross profit margin for the year ended December 31, 2023, decreased to approximately 15.6%[22]. - The cost of sales and services rose to approximately HKD 19.5 million for the year ended December 31, 2023, up from approximately HKD 11.3 million for the year ended December 31, 2022, primarily due to increased subcontracting costs in the construction services segment[46]. - Other income, gains or losses increased from approximately HKD 2.4 million for the year ended December 31, 2022, to approximately HKD 5.3 million for the year ended December 31, 2023, mainly due to losses from the sale of machinery and equipment[49]. Assets and Liabilities - Total assets as of December 31, 2023, were HKD 50.6 million, a decrease from HKD 102.1 million in 2022[14]. - Total liabilities as of December 31, 2023, were HKD 10.9 million, down from HKD 25.7 million in 2022[14]. - The net asset value as of December 31, 2023, was HKD 39.7 million, compared to HKD 76.4 million in 2022[14]. - The company experienced a significant reduction in total liabilities, indicating improved financial stability[14]. - As of December 31, 2023, the total amount of outstanding loans (before credit loss provisions) was HKD 5,800,000, with credit loss provisions amounting to approximately HKD 81,000[38]. - The loan portfolio included two outstanding loans from corporate borrowers, which accounted for 100% of the total outstanding loans[38]. Revenue Sources and Business Segments - The construction services segment generated revenue of HKD 8.0 million for the year ended December 31, 2023, compared to zero revenue in the previous year[30]. - Revenue from machinery rental services decreased from approximately HKD 16.0 million for the year ended December 31, 2022, to approximately HKD 9.9 million for the year ended December 31, 2023[24]. - Total sales from the trading of machinery, tools, and parts increased from approximately HKD 36,000 to approximately HKD 4.0 million for the year ended December 31, 2023[27]. - Revenue from transportation and other services increased from approximately HKD 0.3 million to approximately HKD 0.8 million for the year ended December 31, 2023[28]. - The company aims to diversify its revenue sources and enhance shareholder value by exploring various business opportunities in response to market conditions[20]. - The company remains optimistic about the growth in construction tender numbers and the rental services market in Hong Kong, driven by favorable government policies and industry trends[20]. Employee and Administrative Expenses - As of December 31, 2023, the company employed 15 full-time employees and 2 part-time employees, with total employee costs of approximately HKD 11.3 million, up from HKD 10.4 million in 2022[74]. - Administrative expenses increased to approximately HKD 19.9 million for the year ended December 31, 2023, from approximately HKD 14.2 million for the year ended December 31, 2022, primarily due to higher employee costs and short-term operating lease rentals[51]. Corporate Governance - The company has adopted and complied with the GEM Listing Rules Appendix C1 Corporate Governance Code as of December 31, 2023, with a board consisting of eight members, including five executive directors and three independent non-executive directors[91]. - The company does not have a defined dividend policy, and future dividends will be decided based on various factors including current market conditions and financial performance[92]. - The company is committed to continuously reviewing its corporate governance practices to enhance standards and meet regulatory requirements[93]. - The company has established a whistleblowing policy in its operational manual to report any violations, emphasizing ethical values and fraud prevention[64]. - The company has implemented a code of conduct for directors regarding securities trading, ensuring compliance with GEM listing rules[95]. - The board is collectively responsible for overseeing the company's affairs and developing business strategies to enhance shareholder value[97]. Environmental, Social, and Governance (ESG) Initiatives - The company is committed to sustainable development and has set various ESG-related goals, which are reviewed annually by business and functional department representatives[155]. - The company has identified key ESG focus areas, including greenhouse gas emissions, occupational health and safety, and product quality and safety[154]. - The group conducted a materiality assessment in 2023 to identify significant ESG issues, which will guide strategic planning and reporting priorities[172]. - The group aims to enhance its ESG effectiveness and create greater value for the community through active stakeholder collaboration[169]. - The ESG report emphasizes the importance of stakeholder engagement, with a focus on government compliance, shareholder value creation, and customer service quality[169]. - The company has implemented measures to manage energy consumption and reduce waste, including recycling and energy-efficient practices[194][196]. Risk Management and Internal Controls - The company has engaged an independent internal control consultant to review its risk management and internal control systems annually[140]. - The company's board has delegated the responsibility of reviewing risk management and internal control matters to the audit committee[140]. - The board conducted an annual review of the mechanisms in place to ensure independence and found them to be adequately implemented[132]. - The company is committed to ensuring compliance with the GEM Listing Rules and the Securities and Futures Ordinance regarding the handling and disclosure of inside information[141].

Financial Performance - For the fiscal year ending December 31, 2023, the company reported revenue of HKD 23,088,446, an increase of 41.2% compared to HKD 16,341,937 in 2022[5] - The cost of sales and services rose to HKD 19,486,560, up 73.4% from HKD 11,260,602 in the previous year, resulting in a gross profit of HKD 3,601,886, down 29.1% from HKD 5,081,335[5] - The company recorded a loss before tax of HKD 38,887,071, slightly higher than the loss of HKD 37,594,725 in 2022, indicating a year-over-year increase of 3.4%[5] - The net loss attributable to owners for the year was HKD 36,727,040, compared to a loss of HKD 33,228,690 in 2022, reflecting an increase of 15.0%[6] - Basic and diluted loss per share from continuing and discontinued operations was HKD 4.25, compared to HKD 3.92 in the previous year, representing a 8.4% increase[6] - The total comprehensive loss for the year was HKD 36,727,040, compared to a loss of HKD 33,515,440 in the previous year[12] - The group reported a pre-tax loss of HKD 38,887,071 for the year ended December 31, 2023, compared to a pre-tax loss of HKD 37,881,475 in 2022[28] - The group's net loss for the year ended December 31, 2023, increased to approximately HKD 36.7 million from approximately HKD 33.2 million in 2022, primarily due to increased losses from the sale of machinery and equipment and higher administrative expenses[68] Assets and Liabilities - Total assets increased to HKD 78,579,775 in 2023 from HKD 40,129,961 in 2022, marking a significant growth of 95.5%[8] - Current liabilities surged to HKD 23,519,199, up from HKD 10,470,082 in 2022, indicating a 125.0% increase[8] - The company's net asset value decreased from HKD 76,419,744 in 2022 to HKD 39,692,704 in 2023, representing a decline of approximately 48.0%[10] - Total assets as of December 31, 2023, amounted to HKD 50,600,043, a decrease from HKD 102,098,974 in the previous year[32] - Total liabilities as of December 31, 2023, were HKD (10,907,339), compared to HKD (25,679,230) in the previous year, indicating a significant reduction[32] - Total liabilities increased from HKD 2,812,841 in 2022 to HKD 5,094,974 in 2023, representing an increase of approximately 81%[52] Revenue Streams - The group's revenue from continuing operations for the year ended December 31, 2023, was HKD 23,088,446, an increase from HKD 16,341,937 in 2022, representing a growth of approximately 41.3%[26] - Machine rental income decreased to HKD 9,910,419 in 2023 from HKD 15,979,747 in 2022, reflecting a decline of about 38.8%[26] - The total sales revenue from the sale of machinery, tools, and parts increased significantly to HKD 3,981,456 in 2023 from HKD 35,500 in 2022[26] - Construction services revenue amounted to HKD 7,964,271 in 2023, with no revenue reported in 2022, indicating a new revenue stream for the group[26] - The group's loan business generated revenue of HKD 420,000 in 2023, marking a new income source[26] - The group's transportation and other services revenue increased to HKD 812,300 in 2023 from HKD 326,690 in 2022, reflecting a growth of approximately 148.5%[26] Management and Strategy - The company has plans for market expansion and new product development, although specific details were not disclosed in the earnings call[5] - The company is actively exploring strategic partnerships and potential acquisitions to enhance its market position and operational capabilities[5] - Management anticipates challenges in the upcoming fiscal year due to global economic uncertainties, projecting a decline in global economic growth from 3.5% in 2022 to 3.0% in 2023 and 2024[55] - The company plans to adopt a cautious approach to manage business operations and financial resources during challenging times[55] - The company remains optimistic about the construction market outlook despite uncertainties in public and private sector projects in Hong Kong[56] Financial Reporting and Compliance - The company has adopted new Hong Kong Financial Reporting Standards, which may impact its financial reporting and disclosures going forward[19] - The group expects that the application of new Hong Kong Financial Reporting Standards will not have a significant impact on its consolidated financial statements in the foreseeable future[23] - The audit committee has reviewed the financial performance for the year ending December 31, 2023, confirming compliance with applicable accounting policies and regulations[99] - The announcement complies with GEM listing rules and aims to provide relevant information about the company[105] - The board of directors confirms the accuracy and completeness of the information provided in the announcement[105] Employee and Management Compensation - The total compensation for key management personnel increased from HKD 3,435,246 in 2022 to HKD 5,115,100 in 2023, an increase of approximately 49%[54] - The total employee cost for the year ended December 31, 2023, was approximately HKD 10.6 million, compared to approximately HKD 14.8 million for the year ended December 31, 2022[84] Dividends and Share Capital - The company did not recommend any dividend payments for the fiscal year ended December 31, 2023, consistent with the previous year[41] - The board does not recommend the payment of any final dividend for the year ended December 31, 2023[87] - The company has not established a dividend policy and will consider various factors before declaring any future dividends[94] Other Information - The company has been involved in providing rental services for construction machinery primarily in Hong Kong and Macau, indicating a focus on the construction sector[15] - The company plans to expand its market presence and enhance its service offerings, including the provision of construction engineering and related services[15] - The company is preparing for the implementation of changes in long-term service payment regulations effective May 1, 2025, which may affect its financial obligations[20] - There have been no significant post-balance sheet events after December 31, 2023[100] - The company has not engaged in any purchase, sale, or redemption of its listed securities during the year and up to the announcement date[101] - The annual performance announcement will be published on the Hong Kong Stock Exchange website and the company's website[104] - The annual report for the year ending December 31, 2023, will be sent to shareholders and available for viewing on the relevant websites[104]