万景控股(02193) - 2024 - 年度业绩

Company Information and Announcements This section provides an overview of Man King Holdings Limited, its business nature, listing status, and a summary of its key financial performance for the year ended March 31, 2024 Company Overview Man King Holdings Limited (Stock Code: 2193) is an investment holding company primarily engaged in civil engineering services in Hong Kong, listed on the Main Board of the Stock Exchange - Company Name: Man King Holdings Limited (Stock Code: 2193)[39] - Company Nature: Investment holding company, primarily providing civil engineering services in Hong Kong[46][50] - Listing Venue: Main Board of The Stock Exchange of Hong Kong Limited[68] - Ultimate Holding Company: LOs Brothers (PTC) Limited[47] Financial Performance Summary For the year ended March 31, 2024, the company reported revenue of HKD 338.5 million and a loss attributable to owners of HKD 22.7 million, with basic loss per share of 5.42 HK cents Summary of Key Financial Data for FY2024 | Indicator | FY2024 (million HKD) | | :--- | :--- | | Revenue | 338.5 | | Loss attributable to owners of the Company | 22.7 | | Basic loss per share | 5.42 HK cents | | Equity per share attributable to owners of the Company | 0.65 HKD | Consolidated Financial Statements This section presents the company's consolidated statement of profit or loss and other comprehensive income and consolidated statement of financial position for the reporting period Consolidated Statement of Profit or Loss and Other Comprehensive Income For the year ended March 31, 2024, the company's revenue decreased by 25.2% year-on-year to HKD 338.5 million, gross profit turned into a gross loss of HKD 26.6 million, resulting in a loss for the year of HKD 22.7 million, compared to a profit of HKD 42.1 million in the prior year Key Data from Consolidated Statement of Profit or Loss and Other Comprehensive Income | Indicator | 2024 (thousand HKD) | 2023 (thousand HKD) | Change | | :--- | :--- | :--- | :--- | | Revenue | 338,486 | 452,781 | -25.2% | | Gross (loss)/profit | (26,645) | 69,621 | From profit to loss | | Other income | 8,983 | 3,085 | +191.2% | | Net other gains/(losses) | 40 | (569) | From loss to gain | | Administrative expenses | (26,647) | (33,986) | -21.6% | | Operating (loss)/profit | (44,269) | 38,151 | From profit to loss | | Finance costs | (356) | (413) | -13.8% | | Share of profit of an associate | 20,059 | 13,234 | +51.6% | | (Loss)/profit before income tax | (24,566) | 50,972 | From profit to loss | | Income tax credit/(expense) | 1,824 | (8,837) | From expense to credit | | (Loss)/profit for the year | (22,742) | 42,135 | From profit to loss | | Basic and diluted (loss)/earnings per share (HK cents) | (5.42) | 10.04 | From earnings to loss | Consolidated Statement of Financial Position As of March 31, 2024, the company's total assets decreased to HKD 412.77 million from HKD 461.53 million in the prior year, with total equity at HKD 272.43 million and total liabilities at HKD 140.34 million Key Data from Consolidated Statement of Financial Position | Indicator | 2024 (thousand HKD) | 2023 (thousand HKD) | | :--- | :--- | :--- | | Assets | | | | Non-current assets | 139,065 | 141,805 | | Current assets | 273,705 | 319,726 | | Total assets | 412,770 | 461,531 | | Equity | | | | Equity attributable to owners of the Company | 272,430 | 310,837 | | Liabilities | | | | Non-current liabilities | 7,627 | 10,989 | | Current liabilities | 132,713 | 139,705 | | Total liabilities | 140,340 | 150,694 | | Total equity and liabilities | 412,770 | 461,531 | Notes to the Financial Statements This section details the company's general information, accounting policies, revenue recognition, and specific breakdowns of income, expenses, and balance sheet items General Information The company is an investment holding company primarily providing civil engineering services in Hong Kong, including roads, drainage, site formation, and marine works, with LOs Brothers (PTC) Limited as its ultimate holding company - Company Nature: Investment holding company, primarily providing civil engineering services in Hong Kong[46][50] - Ultimate Holding Company: LOs Brothers (PTC) Limited[47] - Business Scope: Roads and drainage, site formation, marine works[90] Basis of Preparation and Changes in Accounting Policies The consolidated financial statements are prepared in accordance with Hong Kong Financial Reporting Standards and the Hong Kong Companies Ordinance, measured on a historical cost basis, except for financial assets at fair value through profit or loss, with no significant impact from HKFRS amendments this year - Preparation Standards: Complies with Hong Kong Financial Reporting Standards and the disclosure requirements of the Hong Kong Companies Ordinance (Cap. 622)[70] - Measurement Basis: Prepared on a historical cost basis, except for financial assets at fair value through profit or loss which are measured at fair value[70] - Impact of Accounting Policy Changes: The application of amendments to Hong Kong Financial Reporting Standards in the current year had no significant impact on the Group's financial position and performance[71] Revenue and Segment Information The executive directors identified civil engineering as the sole reportable operating segment, with all revenue derived from contracts with customers, recognized over time, and originating from Hong Kong operations, while auxiliary civil engineering-related service income increased - Reportable Operating Segment: Civil engineering, whose performance is assessed by executive directors based on revenue and gross profit[51][72][73] - Revenue Source: All revenue is derived from contracts with customers, recognized over time, and entirely from operations in Hong Kong[52] - Auxiliary Civil Engineering Related Service Income: HKD 7.725 million in 2024, compared to HKD 6.047 million in 2023[74] Other Income For the year ended March 31, 2024, other income significantly increased to HKD 8.983 million, primarily due to a substantial rise in bank interest income Details of Other Income | Indicator | 2024 (thousand HKD) | 2023 (thousand HKD) | | :--- | :--- | :--- | | Management fee income | 360 | 415 | | Dividend income from financial assets at fair value through profit or loss | 317 | 292 | | Bank interest income | 6,572 | 1,681 | | Others | 1,734 | 697 | | Total | 8,983 | 3,085 | Net Other Gains/(Losses) For the year ended March 31, 2024, net other gains turned from a loss to a gain of HKD 40 thousand, mainly due to a fair value change in financial assets at fair value through profit or loss shifting from a loss to a gain Details of Net Other Gains/(Losses) | Indicator | 2024 (thousand HKD) | 2023 (thousand HKD) | | :--- | :--- | :--- | | Fair value change of financial assets at fair value through profit or loss | 141 | (570) | | Net exchange gains | –* | 30 | | Loss on disposal of property, plant and equipment | (107) | (29) | | Gain on early termination of lease | 6 | – | | Total | 40 | (569) | Loss/(Profit) Before Income Tax For the year ended March 31, 2024, the loss before income tax was HKD 24.566 million, compared to a profit of HKD 50.972 million in the prior year, primarily influenced by employee benefit expenses, construction material costs, and subcontracting fees Deductions from Loss/(Profit) Before Income Tax | Indicator | 2024 (thousand HKD) | 2023 (thousand HKD) | | :--- | :--- | :--- | | Employee benefit expenses | 85,751 | 87,953 | | Auditor's remuneration | 1,340 | 1,323 | | Depreciation of property, plant and equipment | 5,290 | 6,420 | | Depreciation of right-of-use assets | 4,446 | 4,438 | | Cost of construction materials | 30,704 | 48,303 | | Subcontracting fees | 241,968 | 240,886 | Income Tax (Credit)/Expense For the year ended March 31, 2024, the company recorded an income tax credit of HKD 1.824 million, compared to an income tax expense of HKD 8.837 million in the prior year, mainly due to a reduction in Hong Kong profits tax and over-provision in prior years Details of Income Tax (Credit)/Expense | Indicator | 2024 (thousand HKD) | 2023 (thousand HKD) | | :--- | :--- | :--- | | Hong Kong profits tax - Current year | 12 | 9,164 | | Hong Kong profits tax - Over-provision in prior years | (1,960) | – | | Deferred tax | 124 | (327) | | Total | (1,824) | 8,837 | - Hong Kong profits tax is provided at a rate of 16.5% on the estimated assessable profit for the year[78] Dividends The Board does not recommend the payment of any dividend for the year ended March 31, 2024, while approximately HKD 14.694 million in dividends were declared and paid in the prior year - FY2024 Dividends: The Board does not recommend the payment of any dividend[9][110] - FY2023 Dividends: Approximately HKD 14.694 million was declared and paid[57][88] Loss/(Earnings) Per Share For the year ended March 31, 2024, basic loss per share was 5.42 HK cents, compared to basic earnings per share of 10.04 HK cents in the prior year, with basic and diluted amounts being the same due to no dilutive potential ordinary shares Basic and Diluted Loss/(Earnings) Per Share | Indicator | 2024 | 2023 | | :--- | :--- | :--- | | (Loss)/profit attributable to owners of the Company (thousand HKD) | (22,742) | 42,135 | | Weighted average number of ordinary shares in issue (thousand shares) | 419,818 | 419,818 | | Basic and diluted (loss)/earnings per share (HK cents) | (5.42) | 10.04 | - No adjustment was made to the basic (loss)/earnings per share amount for determining the diluted (loss)/earnings per share amount, as the Group had no dilutive potential ordinary shares in issue during these years[5] Contract Assets As of March 31, 2024, total contract assets decreased to HKD 15.313 million from HKD 20.570 million in the prior year, primarily comprising unbilled revenue from civil engineering and civil engineering retention receivables Details of Contract Assets | Indicator | 2024 (thousand HKD) | 2023 (thousand HKD) | | :--- | :--- | :--- | | Unbilled revenue from civil engineering - projects in progress | 2,995 | 7,298 | | Civil engineering retention receivables | 12,318 | 13,272 | | Total | 15,313 | 20,570 | Trade and Other Receivables As of March 31, 2024, total trade and other receivables increased to HKD 52.336 million from HKD 38.082 million in the prior year, with a significant increase in trade receivables aged over 90 days Details of Trade and Other Receivables | Indicator | 2024 (thousand HKD) | 2023 (thousand HKD) | | :--- | :--- | :--- | | Trade receivables | 34,966 | 21,217 | | Other receivables, deposits and prepayments | 17,370 | 16,865 | | Total | 52,336 | 38,082 | Ageing Analysis of Trade Receivables | Ageing | 2024 (thousand HKD) | 2023 (thousand HKD) | | :--- | :--- | :--- | | 0 to 30 days | 24,236 | 21,668 | | 31 to 60 days | 12,515 | 11,922 | | 61 to 90 days | 380 | 2,072 | | Over 90 days | 3,222 | 355 | | Total | 40,353 | 36,017 | - Trade receivables are normally due within 30 to 60 days from the date of client certification[83] Trade and Other Payables As of March 31, 2024, total trade and other payables slightly increased to HKD 88.162 million from HKD 87.734 million in the prior year, with a credit period for trade purchases of 30 to 60 days Details of Trade and Other Payables | Indicator | 2024 (thousand HKD) | 2023 (thousand HKD) | | :--- | :--- | :--- | | Trade payables | 40,353 | 36,017 | | Retention payables | 32,885 | 29,939 | | Other payables and accrued charges | 14,924 | 21,778 | | Total | 88,162 | 87,734 | - The credit period for trade purchases is 30 to 60 days[6] Ageing Analysis of Trade Payables | Ageing | 2024 (thousand HKD) | 2023 (thousand HKD) | | :--- | :--- | :--- | | 0 to 30 days | 34,966 | 14,602 | | 31 to 60 days | – | 6,615 | | Total | 34,966 | 21,217 | Ageing Analysis of Retention Payables | Ageing | 2024 (thousand HKD) | 2023 (thousand HKD) | | :--- | :--- | :--- | | Due within one year | 18,708 | 2,147 | | Due after one year | 14,177 | 27,792 | | Total | 32,885 | 29,939 | Management Discussion and Analysis This section provides an overview of the Group's business operations, a detailed financial review, and insights into its liquidity, capital structure, and future strategic outlook Business Review The Group operates as a main contractor providing civil engineering services in Hong Kong, including roads, drainage, site formation, and marine works, and has diversified its business through a Belt and Road coal transshipment project in Pakistan, yielding good returns - Main Business: Hong Kong civil engineering main contractor, undertaking public and private sector projects[90][118] - Business Diversification: Through a 20.3% equity interest in a Belt and Road coal transshipment business in Pakistan[119] - Belt and Road Project Contribution: Share of profit of approximately HKD 20.1 million for the year ended March 31, 2024[119] - Projects in Progress: As of March 31, 2024, there were eight projects in progress, with an estimated remaining contract sum and total value of engineering orders of approximately HKD 810.8 million[12] Financial Review For the year ended March 31, 2024, the Group's financial performance faced challenges with decreased revenue, a shift from gross profit to gross loss, and a net loss, primarily due to certain construction projects being in the temporary works stage, leading to reduced certified work by clients Revenue For the year ended March 31, 2024, revenue decreased by 25.2% year-on-year to HKD 338.5 million, primarily due to the combined impact of project construction stages, reduced client-certified work, and decreased revenue from certain projects - Total Revenue: Approximately HKD 338.5 million in 2024, a 25.2% decrease from approximately HKD 452.8 million in 2023[120] - Reasons for Revenue Decrease: Primarily due to projects being in the temporary works stage and a lower quantity of work certified by clients, leading to a decrease of approximately HKD 104.2 million from certain projects, and a decrease of approximately HKD 56.9 million from substantially completed projects[15][120] - Factors Increasing Revenue: Revenue from new public sector projects increased by approximately HKD 8.4 million, and revenue from three projects in progress increased by approximately HKD 38.4 million[14][92] Gross (Loss)/Profit and Gross (Loss)/Profit Margin For the year ended March 31, 2024, the Group shifted from gross profit to a gross loss of HKD 26.6 million, with a gross loss margin of 7.9%, mainly because several construction projects were in the temporary works stage, resulting in a lower quantity of work certified by clients - Gross (Loss)/Profit: Gross loss of approximately HKD 26.6 million in 2024, with a gross loss margin of 7.9%; gross profit of approximately HKD 69.6 million in 2023, with a gross profit margin of 15.4%[93] - Reason for Shift from Profit to Loss: Certain construction projects were in the temporary works stage, leading to a lower quantity of work certified by clients[16][93] Other Income For the year ended March 31, 2024, other income increased to HKD 8.983 million, primarily driven by an increase in bank interest income of approximately HKD 4.891 million - Other Income: Approximately HKD 8.983 million in 2024, compared to approximately HKD 3.085 million in 2023[94] - Reason for Growth: Primarily driven by an increase in bank interest income of approximately HKD 4.891 million[94] Net Other Gains/(Losses) For the year ended March 31, 2024, net other gains turned from a loss of HKD 569 thousand in the prior year to a gain of HKD 40 thousand, mainly due to an increase in fair value gains from financial assets at fair value through profit or loss - Net Other Gains: Approximately HKD 40 thousand in 2024, compared to a loss of approximately HKD 569 thousand in 2023[123] - Reason for Shift from Loss to Gain: Primarily due to the recognition of fair value gains of HKD 141 thousand from financial assets at fair value through profit or loss (2023: loss of HKD 570 thousand)[123] Administrative Expenses For the year ended March 31, 2024, administrative expenses decreased by approximately HKD 7.4 million to HKD 26.6 million, mainly due to a reduction in employee benefit expenses - Administrative Expenses: Approximately HKD 26.6 million in 2024, compared to approximately HKD 34.0 million in 2023[18] - Reason for Decrease: Primarily due to a decrease in employee benefit expenses, including staff salaries, benefits, and other allowances[18] Finance Costs For the year ended March 31, 2024, total finance costs decreased to HKD 356 thousand from HKD 413 thousand in the prior year, primarily comprising interest expenses on bank loans and lease liabilities - Total Finance Costs: Approximately HKD 356 thousand in 2024, compared to approximately HKD 413 thousand in 2023[96] - Composition: Interest expenses on bank loans of approximately HKD 94 thousand and interest expenses on lease liabilities of approximately HKD 262 thousand[96] Share of Profit of an Associate For the year ended March 31, 2024, the Group's share of profit of an associate increased to approximately HKD 20.1 million from HKD 13.2 million in the prior year, with the associate providing bareboat chartering and coal transshipment services in Pakistan - Share of Profit of an Associate: Approximately HKD 20.1 million in 2024, compared to approximately HKD 13.2 million in 2023[97] - Associate's Business: Provides bareboat chartering and coal transshipment services in Pakistan[97] Loss/(Profit) for the Year For the year ended March 31, 2024, the Group recorded a net loss of HKD 22.7 million, compared to a net profit of HKD 42.1 million in the prior year, primarily due to temporary works and a lower quantity of client-certified work during the year - Loss/(Profit) for the Year: Net loss of approximately HKD 22.7 million in 2024, compared to a net profit of approximately HKD 42.1 million in 2023[21] - Reason for Shift from Profit to Loss: Primarily due to temporary works and a lower quantity of client-certified work during the year[21] Liquidity and Financial Resources As of March 31, 2024, the Group had cash and cash equivalents of HKD 153.9 million and unutilized bank borrowing facilities of approximately HKD 20.7 million, facing no significant currency exchange rate fluctuations and having no currency hedging policy - Cash and Cash Equivalents: Approximately HKD 153.9 million in 2024, compared to approximately HKD 235.3 million in 2023[99] - Bank Deposits Matured Over Three Months: Approximately HKD 22.2 million in 2024, compared to zero in 2023[99] - Unutilized Bank Borrowing Facilities: Approximately HKD 20.7 million[128] - Currency Risk: No significant impact from currency exchange rate fluctuations, and no currency hedging policies or instruments adopted[99] Capital Structure and Gearing Ratio As of March 31, 2024, the Group's total equity was HKD 272.4 million, total interest-bearing bank borrowings were HKD 0.6 million, and the gearing ratio was approximately 0.2%, a decrease from 0.7% in the prior year, indicating lower financial leverage - Total Equity: Approximately HKD 272.4 million in 2024, compared to approximately HKD 310.8 million in 2023[141] - Total Interest-Bearing Bank Borrowings: Approximately HKD 0.6 million in 2024, compared to approximately HKD 2.3 million in 2023[22] - Gearing Ratio: Approximately 0.2% in 2024, compared to approximately 0.7% in 2023[23] Pledged Assets As of March 31, 2024, the Group had no pledged bank deposits, but other deposits of approximately HKD 3.323 million were placed and pledged to an insurance institution as security for obligations under performance guarantees - Pledged Bank Deposits: None[142] - Other Deposits: Approximately HKD 3.323 million was placed and pledged to an insurance institution as security for obligations under performance guarantees[142] Performance Guarantees and Contingent Liabilities As of March 31, 2024, the Group had no outstanding performance guarantees issued by banks but had outstanding performance guarantees of approximately HKD 3.323 million issued by an insurance institution - Bank Performance Guarantees: None outstanding[25] - Insurance Institution Performance Guarantees: Approximately HKD 3.323 million outstanding[25] - Performance Guarantee Requirements: Certain construction contracts require Group entities to issue performance guarantees for contract works, secured by other deposits or pledged bank deposits[143] Capital Commitments As of March 31, 2024, the Group had no capital commitments for capital expenditure on property, plant, and equipment contracted but not yet recognized as liabilities - Capital Commitments: None in 2024, compared to HKD 137 thousand in 2023[130] Employees and Remuneration Policy As of March 31, 2024, the Group had 167 full-time employees, with employee costs totaling approximately HKD 76.9 million, adhering to relevant employment ordinances and determining remuneration based on individual capabilities, potential, performance, and market salary levels - Number of Full-time Employees: 167[103] - Employee Costs: Totaled approximately HKD 76.9 million for the year ended March 31, 2024[103] - Government Subsidies: None from "Employment Support Scheme" in 2024, compared to approximately HKD 2.7 million in 2023[103] - Remuneration Policy: Employees are recruited and promoted based on individual capabilities and development potential, with remuneration determined by individual performance and current market salary levels[103] Future Outlook The Group faces challenges from reduced revenue due to temporary works in construction projects but has secured new public drainage contracts, with an estimated total outstanding contract sum and value of engineering orders of approximately HKD 810.8 million, while continuing to seek investment opportunities, leverage innovative technology and AI to enhance productivity, and maintain a cautious approach to new investments - Challenges Faced: Certain construction projects are in the temporary works stage, leading to reduced client-certified work, decreased revenue, and a net loss[132] - New Contracts: Awarded a new public drainage engineering contract worth approximately HKD 223 million with a joint venture partner in November 2023[132] - Total Outstanding Contract Sum and Value of Engineering Orders: Estimated at approximately HKD 810.8 million as of March 31, 2024[132] - "Belt and Road" Project Performance: Significant decrease in coal transshipment volume during the fifth season of the coal transshipment business, but offset by an increase in bareboat chartering income, with no significant impact expected on project performance[104] - Strategic Direction: Continue to seek other investment opportunities to earn reasonable and sustainable returns and achieve diversification; drive productivity, efficiency, and safety through the use of innovative technology and artificial intelligence[105] - Investment Stance: Maintain a cautious approach to seeking any new investments in the deteriorating Hong Kong economy and complex business environment, balancing risks and returns[105][146] - Industry Outlook: Remain cautiously optimistic about the Hong Kong construction industry, aiming to overcome challenges and consolidate competitive advantages[146] Other Information This section covers the company's material investments, acquisitions and disposals, securities transactions, corporate governance practices, and upcoming shareholder meeting details Material Investments The Group holds a 20.3% equity interest in Rui Jing, with a total investment of approximately HKD 96.7 million, primarily engaged in bareboat chartering and coal transshipment for a Belt and Road project in Pakistan, and received dividends of approximately HKD 18.2 million from Rui Jing this year - Major Investment: 20.3% equity interest in Rui Jing, with a total investment of approximately HKD 96.7 million[134] - Rui Jing's Business: "Belt and Road" project, involving bareboat chartering and coal transshipment to a coal-fired power plant in Pakistan[134] - Investment Objective: To maintain sustainable growth and maximize shareholder returns through business diversification[134] - Dividends Received: Received cash dividends of approximately HKD 18.2 million from Rui Jing during the year[134][145] - Dividend Strategy: Rui Jing Group adopted a prudent dividend distribution strategy, but the situation improved this year, suggesting more dividends to be distributed[145] - Other Material Investments: No other material investments for the year ended March 31, 2024[106] Material Acquisitions and Disposals of Subsidiaries and Associates For the year ended March 31, 2024, the company had no material acquisitions or disposals of subsidiaries and associates - No material acquisitions or disposals of subsidiaries and associates[29] Purchase, Sale or Redemption of the Company's Listed Securities For the year ended March 31, 2024, neither the company nor any of its subsidiaries purchased, sold, or redeemed any of the company's listed securities - No purchase, sale, or redemption of the Company's listed securities[34] Corporate Governance The company has adopted and complied with the Corporate Governance Code set out in Appendix C1 of the Listing Rules, except for code provision C.2.1 regarding the separation of roles of chairman and chief executive, which the Board believes facilitates efficient management, with the Board structure ensuring a balance of power - Compliance with Corporate Governance Code: Adopted, applied, and complied with the Corporate Governance Code set out in Appendix C1 of the Listing Rules, except for code provision C.2.1[30] - Roles of Chairman and Chief Executive: Mr. Lo Yuen Cheong serves concurrently, which the Board believes facilitates efficient management, and the Board's composition with half independent non-executive directors ensures a balance of power[136] - Details of Corporate Governance Principles: Will be set out in the 2023/2024 Annual Report[35] Standard Code for Securities Transactions The company has adopted the Model Code for Securities Transactions by Directors of Listed Issuers as set out in Appendix C3 of the Listing Rules, and all directors have confirmed compliance with the code throughout the year - Adoption of Standard Code: Adopted the Model Code for Securities Transactions by Directors of Listed Issuers as set out in Appendix C3 of the Listing Rules[31] - Directors' Compliance: All directors have confirmed compliance with the required standards set out in the Model Code for the year ended March 31, 2024[137] Audit Committee The Audit Committee has reviewed and discussed the annual results for the year ended March 31, 2024, comprising four members, with its written terms of reference complying with the Listing Rules and Corporate Governance Code - Review of Annual Results: The Audit Committee has reviewed and discussed the annual results for the year ended March 31, 2024[138] - Committee Composition: Composed of four members, including Mr. Leung Wai Tat, Ms. Chan Wai Ying, Ms. Chow Wai Yung, and Professor Lo Man Chi[150] - Terms of Reference: Written terms of reference comply with Rule 3.21 of the Listing Rules and the Corporate Governance Code[150] - Auditor's Agreement: The figures in respect of the Group's consolidated statement of financial position, consolidated statement of profit or loss and other comprehensive income, and related notes for the year ended March 31, 2024, as set out in the preliminary announcement, have been agreed by PricewaterhouseCoopers to be consistent with the amounts in the Group's audited consolidated financial statements[138] Closure of Register of Members To determine the shareholders entitled to attend and vote at the 2024 Annual General Meeting, the company will suspend the registration of share transfers from August 23 to August 28, 2024 - Dates for Closure of Register of Members: From Friday, August 23, 2024, to Wednesday, August 28, 2024 (both dates inclusive)[89] - Purpose: To determine the list of shareholders entitled to attend and vote at the upcoming Annual General Meeting to be held on August 28, 2024[89] - Deadline for Transfer Registration: All completed share transfer forms, together with the relevant share certificates, must be lodged with the Company's Hong Kong Share Registrar by 4:30 p.m. on Thursday, August 22, 2024[89] Publication of Annual Results and Annual Report This announcement has been published on the company's and the Stock Exchange's websites, and the 2023/2024 Annual Report, containing all information required by the Listing Rules, will be published and dispatched to shareholders in due course - Announcement Publication Platforms: This announcement is published on the Company's website (www.manking.com.hk) and the Stock Exchange's website (www.hkexnews.hk)[139](index=139&type=chunk) - Annual Report Publication: The 2023/2024 Annual Report, containing all information required by the Listing Rules, will be published on the Company's and the Stock Exchange's websites and dispatched to the Company's shareholders in due course[139] - Board Members: Includes Executive Directors Mr. Lo Yuen Cheong and Mr. Lo Yik Cheong; Non-executive Director Ms. Chan Wai Ying; and Independent Non-executive Directors Mr. Leung Wai Tat, Professor Lo Man Chi, and Ms. Chow Wai Yung[33] Annual General Meeting The notice of the 2024 Annual General Meeting will be published and dispatched to shareholders in due course in the manner required by the Listing Rules - AGM Notice: The notice of the 2024 Annual General Meeting will be published and dispatched to shareholders in due course in the manner required by the Listing Rules[151]