中国钱包(00802) - 2025 - 中期业绩

Company Announcement and Board Information Interim Results Announcement China e-Wallet Payment Group Limited announced its unaudited condensed consolidated interim results for the six months ended June 30, 2025, in compliance with Stock Exchange Listing Rules - Company Name: China e-Wallet Payment Group Limited[2] - Reporting Period: Six months ended June 30, 2025[2] - Status: Unaudited condensed consolidated interim results[2] - Publication Date: August 28, 2025[3] Board of Directors The Board of Directors comprises one Executive Director and three Independent Non-executive Directors - Executive Director: Mr. Lam Chi Ka[3] - Independent Non-executive Directors: Ms. Pang Ching Yee, Mr. Tse Tung Leung, Mr. Wong Sze Lok[3] Condensed Consolidated Financial Statements Condensed Consolidated Statement of Profit or Loss For the six months ended June 30, 2025, the Company achieved a profit of HKD 3.01 million, a significant improvement from a loss of HKD 23.93 million in the prior year, driven by substantial revenue growth and a fair value gain on financial assets Condensed Consolidated Statement of Profit or Loss Key Data (Six Months Ended June 30) | Metric | 2025 (thousand HKD) | 2024 (thousand HKD) | Change (thousand HKD) | Change Rate | | :--- | :--- | :--- | :--- | :--- | | Revenue | 23,246 | 12,180 | 11,066 | 90.85% | | Gross Profit | 3,621 | 726 | 2,895 | 398.76% | | Net Realized and Unrealized Fair Value Gains/(Losses) on Financial Assets at FVTPL | 2,572 | (21,496) | 24,068 | N/A | | Operating Profit/(Loss) | 3,879 | (23,060) | 26,939 | N/A | | Profit/(Loss) for the Period | 3,009 | (23,930) | 26,939 | N/A | | Profit/(Loss) Attributable to Owners of the Company | 2,916 | (23,958) | 26,874 | N/A | | Basic and Diluted Earnings/(Loss) Per Share | 0.48 HK cents | (3.97) HK cents | 4.45 HK cents | N/A | Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income For the six months ended June 30, 2025, the Company recorded total comprehensive income of HKD 3.01 million, compared to a total comprehensive loss of HKD 23.94 million in the prior year, primarily due to the profit for the period Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income Key Data (Six Months Ended June 30) | Metric | 2025 (thousand HKD) | 2024 (thousand HKD) | Change (thousand HKD) | | :--- | :--- | :--- | :--- | | Profit/(Loss) for the Period | 3,009 | (23,930) | 26,939 | | Exchange Differences on Translation of Foreign Operations | – | (9) | 9 | | Total Comprehensive Income/(Loss) for the Period | 3,009 | (23,939) | 26,948 | | Total Comprehensive Income/(Loss) for the Period Attributable to Owners of the Company | 2,916 | (23,967) | 26,883 | Condensed Consolidated Statement of Financial Position As of June 30, 2025, total assets increased to HKD 65.94 million and total equity to HKD 30.12 million, reflecting an improved gearing ratio Condensed Consolidated Statement of Financial Position Key Data (As of June 30) | Metric | June 30, 2025 (thousand HKD) | December 31, 2024 (thousand HKD) | Change (thousand HKD) | Change Rate | | :--- | :--- | :--- | :--- | :--- | | Total Assets | 65,942 | 61,132 | 4,810 | 7.87% | | Equity Attributable to Owners of the Company | 30,573 | 27,657 | 2,916 | 10.54% | | Total Equity | 30,116 | 27,107 | 3,009 | 11.09% | | Total Liabilities | 35,826 | 34,025 | 1,801 | 5.29% | | Net Current Assets | 29,646 | 41,621 | (11,975) | -28.77% | Condensed Consolidated Statement of Changes in Equity For the six months ended June 30, 2025, equity attributable to owners of the Company increased from HKD 27.66 million as of January 1, 2025, to HKD 30.57 million, primarily due to profit for the period Condensed Consolidated Statement of Changes in Equity Key Data (Six Months Ended June 30) | Metric | June 30, 2025 (thousand HKD) | January 1, 2025 (thousand HKD) | Change (thousand HKD) | | :--- | :--- | :--- | :--- | | Equity Attributable to Owners of the Company | 30,573 | 27,657 | 2,916 | | Non-controlling Interests | (457) | (550) | 93 | | Total | 30,116 | 27,107 | 3,009 | Condensed Consolidated Statement of Cash Flows For the six months ended June 30, 2025, net cash used in operating activities decreased, net cash from investing activities increased, and cash and cash equivalents at period-end amounted to HKD 5.25 million Condensed Consolidated Statement of Cash Flows Key Data (Six Months Ended June 30) | Metric | 2025 (thousand HKD) | 2024 (thousand HKD) | Change (thousand HKD) | | :--- | :--- | :--- | :--- | | Net Cash Used in Operating Activities | (2,133) | (4,353) | 2,220 | | Net Cash from Investing Activities | 1,448 | 1 | 1,447 | | Net Cash Used in Financing Activities | (240) | (1,217) | 977 | | Net Decrease in Cash and Cash Equivalents | (925) | (5,569) | 4,644 | | Cash and Cash Equivalents as of June 30 | 5,251 | 7,286 | (2,035) | Notes to the Condensed Consolidated Interim Financial Information General Information and Basis of Preparation The Company is a Bermuda-registered investment holding company, primarily engaged in mobile application development and settlement services, and trading of beauty, computer, and mobile-related electronic products; interim financial information is presented in HKD and prepared in accordance with IAS 34 and Stock Exchange Listing Rules - Company registration: Bermuda[17] - Principal activities: Mobile application development and settlement application services, and trading of beauty, computer, and mobile-related electronic products and services[17] - Functional currency: HKD[17] - Basis of preparation: IAS 34 and Appendix D2 of the Listing Rules[18] Application of Revised IFRSs The Group adopted revised IFRSs effective January 1, 2025, which did not result in significant changes to accounting policies or financial statement presentation - Adopted revised IFRSs effective January 1, 2025[20] - Adoption did not result in significant changes to accounting policies, financial information presentation, or reported amounts[20] Revenue and Segment Information The Group's single operating segment is mobile applications and related accessories, with revenue primarily from beauty, computer, and mobile-related electronic products and services, and mobile application development and settlement application services, all generated in Hong Kong - Single operating segment: Mobile applications and related accessories[21] Disaggregation of Revenue from Contracts with Customers (Six Months Ended June 30) | Product/Service | 2025 (thousand HKD) | 2024 (thousand HKD) | Change (thousand HKD) | Change Rate | | :--- | :--- | :--- | :--- | :--- | | Mobile Application Development and Settlement Application Services | 4,457 | 525 | 3,932 | 748.95% | | Beauty, Computer and Mobile-related Electronic Products and Services | 18,789 | 11,655 | 7,134 | 61.21% | | Total Revenue | 23,246 | 12,180 | 11,066 | 90.85% | - All revenue is derived from Hong Kong customers[23] - Major customers: Customer A contributed HKD 10,984 thousand (2024: HKD 7,155 thousand), Customer B contributed HKD 7,805 thousand (2024: HKD 4,500 thousand)[25] Other Income For the six months ended June 30, 2025, other income primarily consisted of bond interest income, totaling HKD 372 thousand, largely consistent with the prior year Other Income (Six Months Ended June 30) | Income Source | 2025 (thousand HKD) | 2024 (thousand HKD) | | :--- | :--- | :--- | | Bank Interest Income | – | 1 | | Bond Interest Income | 372 | 373 | | Total | 372 | 374 | Finance Costs For the six months ended June 30, 2025, finance costs totaled HKD 870 thousand, consistent with the prior year, mainly comprising interest expense on other borrowings and bonds payable Finance Costs (Six Months Ended June 30) | Cost Source | 2025 (thousand HKD) | 2024 (thousand HKD) | | :--- | :--- | :--- | | Interest Expense on Other Borrowings | 120 | 120 | | Interest Expense on Bonds Payable | 750 | 750 | | Total | 870 | 870 | Profit/(Loss) Before Tax Profit/(loss) before tax is stated after deducting depreciation of property, plant and equipment, which was HKD 83 thousand in H1 2025 - Depreciation of property, plant and equipment: HKD 83 thousand in 2025, HKD 97 thousand in 2024[28] Income Tax The Group made no income tax provision in Hong Kong or China, as Hong Kong had no assessable profits or sufficient tax losses to offset, and the PRC enterprise income tax rate is 25% - Hong Kong profits tax: No provision made, due to no assessable profits or sufficient tax losses carried forward to offset[29] - PRC enterprise income tax: Applicable tax rate 25%[30] Earnings/(Loss) Per Share For the six months ended June 30, 2025, basic earnings per share was 0.48 HK cents, compared to a loss per share of 3.97 HK cents in the prior year, primarily due to the profit for the period Earnings/(Loss) Per Share (Six Months Ended June 30) | Metric | 2025 | 2024 | | :--- | :--- | :--- | | Profit/(Loss) Attributable to Owners of the Company | 2,916,000 HKD | (23,958,000) HKD | | Weighted Average Number of Ordinary Shares in Issue | 603,545,948 shares | 603,545,948 shares | | Basic and Diluted Earnings/(Loss) Per Share | 0.48 HK cents | (3.97) HK cents | - Basic and diluted earnings/loss per share were the same for 2025 and 2024, as there were no potential dilutive ordinary shares or unexercised share options with a dilutive effect[33][34] Dividends For the six months ended June 30, 2025, the Company paid or proposed no dividends - No dividends paid or proposed during or after the reporting period[35] Financial Assets at Fair Value Through Profit or Loss As of June 30, 2025, financial assets at fair value through profit or loss primarily comprised Hong Kong listed equity securities, totaling HKD 45.02 million, slightly higher than at the end of 2024 Financial Assets at Fair Value Through Profit or Loss (As of June 30) | Asset Type | June 30, 2025 (thousand HKD) | December 31, 2024 (thousand HKD) | Change (thousand HKD) | | :--- | :--- | :--- | :--- | | Hong Kong Listed Equity Securities | 45,019 | 44,833 | 186 | - Financial assets held for trading are stated at fair value, determined by quoted bid prices on the Stock Exchange[36] Trade Receivables As of June 30, 2025, total trade receivables amounted to HKD 12.45 million, a significant increase from HKD 6.17 million at the end of 2024, with the aging structure showing more receivables concentrated in the 31-180 day range Aging Analysis of Trade Receivables (As of June 30) | Aging | June 30, 2025 (thousand HKD) | December 31, 2024 (thousand HKD) | | :--- | :--- | :--- | | 0 to 30 days | 7,563 | 6,360 | | 31 to 60 days | 2,155 | – | | 61 to 90 days | 2,250 | – | | 91 to 180 days | 425 | – | | Over 180 days | 251 | – | | Total (Net of Allowance) | 12,454 | 6,170 | - Trade receivables generally have a credit period of 30 to 180 days[37] Share Capital As of June 30, 2025, the Company's authorized share capital was 200,000,000 thousand shares, and issued and fully paid share capital was 603,546 thousand shares with a par value of HKD 0.01 per share, totaling HKD 6,035 thousand, consistent with the end of 2024 Share Capital Structure (As of June 30) | Metric | Number of Shares (thousand shares) | Amount (thousand HKD) | | :--- | :--- | :--- | | Authorized Share Capital (par value HKD 0.01 per share) | 200,000,000 | 2,000,000 | | Issued and Fully Paid Share Capital (par value HKD 0.01 per share) | 603,546 | 6,035 | Trade Payables As of June 30, 2025, total trade payables amounted to HKD 12.26 million, an increase from HKD 10.58 million at the end of 2024, with a significant increase in payables over 90 days old Aging Analysis of Trade Payables (As of June 30) | Aging | June 30, 2025 (thousand HKD) | December 31, 2024 (thousand HKD) | | :--- | :--- | :--- | | 0 to 30 days | 1,700 | 10,424 | | 31 to 60 days | 1,100 | – | | 61 to 90 days | 1,030 | – | | Over 90 days | 8,426 | 160 | | Total | 12,256 | 10,584 | - Trade payables generally have a credit period of 0 to 60 days[39] Financial Instruments Directors believe the carrying amounts of financial assets and liabilities measured at amortized cost approximate their fair values; financial instruments measured at fair value are primarily Hong Kong listed equity securities, classified as fair value hierarchy Level 1, and valued using quoted bid prices in active markets - Carrying amounts of financial assets and liabilities measured at amortized cost approximate their fair values[40] - Financial instruments measured at fair value are primarily Hong Kong listed equity securities, classified as fair value hierarchy Level 1[42] - Fair value is determined by quoted bid prices in active markets[43] - No transfers between Level 1, 2, and 3 occurred during the reporting period[42] Related Party Transactions Key management personnel compensation, including directors' remuneration, increased to HKD 120 thousand in H1 2025, up from HKD 46 thousand in the prior year Key Management Personnel Compensation (Six Months Ended June 30) | Metric | 2025 (thousand HKD) | 2024 (thousand HKD) | Change (thousand HKD) | | :--- | :--- | :--- | :--- | | Short-term Benefits | 120 | 46 | 74 | Management Discussion and Analysis Operating Environment The Company faces challenges from technological innovation, changing consumer preferences, and trade flows, but through extensive technological deployment and core business adjustments, it can rapidly respond to market changes and continuously improve products and business operations - Operating environment is challenging, facing competition from technological innovation, changes in consumer preferences, and trade flows[45] - The Company has adjusted and continues to improve its core businesses and delivery, with innovation in products and business operations as its foundation[45] Business Review The Group primarily engages in internet and mobile applications, interactive virtual reality technology development, design and distribution of computer/mobile/beauty-related electronic products, and system solution services - Principal activities: Providing internet and mobile applications, developing interactive virtual reality technology, design and distribution of computer-related, mobile-related, and beauty-related electronic products and accessories, and providing project-based system solution services[46] Revenue by Business Segment (Six Months Ended June 30) | Business Segment | 2025 (thousand HKD) | 2024 (thousand HKD) | Change (thousand HKD) | Change Rate | | :--- | :--- | :--- | :--- | :--- | | Mobile Application Development and Settlement Application Services | 4,457 | 525 | 3,932 | 748.95% | | Beauty, Computer and Mobile-related Electronic Products and Services | 18,789 | 11,655 | 7,134 | 61.21% | | Total | 23,246 | 12,180 | 11,066 | 90.85% | Mobile Application Development and Settlement Application Services Following changes in directors in Q1 2024, the Group terminated loss-making settlement application services and focused on software and application development and consulting services, which generated HKD 4.46 million in revenue in H1 2025, leveraging rich industry experience and a strong customer base - Terminated loss-making settlement application services, focused on software and application development and consulting services[48] - Revenue from this service approximately HKD 4.46 million in H1 2025[48] - Management team has over 20 years of experience in IT software and application development[48] - Hosted Hong Kong's first anime-themed interactive exhibition in 2019, renowned for designing and installing high-quality interactive projection mapping systems[48] Beauty, Computer and Mobile-related Electronic Products and Services The Group has been engaged in electronic product design and distribution since 2011, with revenue from this business approximately HKD 18.79 million in H1 2025, of which approximately 58.5% was supplied to a leading medical aesthetics service provider in Hong Kong, and will continue to focus on beauty-related electronic products - Engaged in electronic product design and distribution since 2011[50] - Revenue from this business approximately HKD 18.79 million in H1 2025[50] - Approximately 58.5% of electronic products supplied to a leading medical aesthetics service provider in Hong Kong[50] - Will continue to focus on the design and distribution of beauty-related electronic products in 2025[50] Financial Review In H1 2025, the Group's financial performance significantly improved, with total revenue growth of 90.9%, a substantial increase in gross profit, and a turn from loss to profit for the period, primarily driven by business revenue growth and fair value gains on financial assets Revenue For the six months ended June 30, 2025, total revenue was approximately HKD 23.25 million, a 90.9% year-over-year increase, primarily driven by increased revenue from beauty, computer, and mobile-related electronic products and services - Total revenue approximately HKD 23.25 million, a 90.9% year-over-year increase[52] - Revenue increase primarily due to increased revenue from beauty, computer, and mobile-related electronic products and services[52] Gross Profit Gross profit for H1 2025 was HKD 3.62 million, a significant increase from HKD 0.73 million in the prior year, consistent with the revenue growth trend - Gross profit HKD 3.62 million, significantly increased from HKD 0.73 million in the prior year[53] Selling and Administrative Expenses Selling and administrative expenses slightly increased to HKD 2.69 million, but their proportion of revenue decreased from 21.9% to 11.6%, indicating improved operational efficiency - Selling and administrative expenses increased to approximately HKD 2.69 million[54] - Proportion of revenue decreased from 21.9% in 2024 to 11.6% in 2025[54] Profit/(Loss) for the Period The Group's profit for the period was approximately HKD 3.01 million, compared to a loss of HKD 23.93 million in the prior year, primarily driven by 90.9% revenue growth and a change in fair value of financial assets from a loss of HKD 21.50 million to a gain of HKD 2.57 million - Profit for the period approximately HKD 3.01 million, prior year was a loss of HKD 23.93 million[55] - Key drivers: Revenue growth of 90.9%[55] - Key drivers: Fair value of financial assets changed from a loss of HKD 21.50 million to a gain of HKD 2.57 million[55] Profit/(Loss) Attributable to Owners of the Company Profit attributable to owners of the Company changed from a loss of HKD 23.96 million in H1 2024 to a profit of HKD 2.92 million in H1 2025 - Profit attributable to owners of the Company changed from a loss of HKD 23.96 million to a profit of HKD 2.92 million[56] Liquidity and Capital Resources The Group manages cash flow through an internal financial budgeting system, with sales revenue as the primary cash source; the gearing ratio improved, while cash and cash equivalents at period-end slightly decreased Gearing Ratio As of June 30, 2025, the gearing ratio was approximately 119.0%, a decrease from 125.5% as of December 31, 2024, indicating an improved financial structure - Gearing ratio: 119.0% as of June 30, 2025, 125.5% as of December 31, 2024[57] - Total debt: HKD 35.83 million as of June 30, 2025, HKD 34.03 million as of December 31, 2024[57] - Total capital: HKD 30.12 million as of June 30, 2025, HKD 27.11 million as of December 31, 2024[57] Cash and Cash Equivalents As of June 30, 2025, cash and cash equivalents were approximately HKD 5.25 million, a decrease from HKD 6.18 million as of December 31, 2024 - Cash and cash equivalents: HKD 5.25 million as of June 30, 2025, HKD 6.18 million as of December 31, 2024[60] Risk Management The Group currently has no contingent liabilities, manages risk by monitoring foreign exchange risk and considering hedging, and has no assets pledged Contingent Liabilities As of June 30, 2025, the Group had no contingent liabilities - No contingent liabilities[61] Foreign Exchange Risk Management Some bank balances are denominated in USD and RMB, exposing the Group to foreign exchange risk, but currently no hedging activities are undertaken, though monitoring and consideration for hedging will continue when necessary - Some bank balances denominated in USD and RMB, exposed to foreign exchange risk[62] - Currently no hedging activities, but will monitor and consider hedging when necessary[62] Pledge of Group's Assets As of June 30, 2025, the Group had not pledged any assets to secure loans - No assets pledged[63] Significant Investments As of June 30, 2025, the Group held financial assets at fair value through profit or loss with a market value of approximately HKD 45.02 million, primarily invested in Hong Kong listed equity securities, with China Investment and Finance, Juntai Holdings, and Huilon Holdings among the major positions - Fair value of financial assets at fair value through profit or loss approximately HKD 45.02 million[64] Major Listed Investment Portfolio (As of June 30, 2025) | Investee Name | June 30, 2025 Fair Value (thousand HKD) | Percentage of Total Assets | H1 2025 Fair Value Gain/(Loss) (thousand HKD) | | :--- | :--- | :--- | :--- | | China Investment and Finance Group Limited | 16,455 | 24.95% | 1,865 | | Juntai Holdings Limited | 9,774 | 14.82% | 5,430 | | Huilon Holdings Limited | 4,695 | 7.12% | (2,449) | | Wanmin Haowu Holdings Limited | 4,387 | 6.65% | (71) | | Milan Station Holdings Limited | 3,500 | 5.31% | (494) | | Harbour Digital Industry Capital Limited | 2,283 | 3.46% | 87 | | Asia Grocery Distribution Limited | 1,460 | 2.22% | (170) | | Subtotal | 42,554 | 64.53% | 4,198 | | Other Listed Equity Securities | 2,465 | 3.74% | (1,626) | | Total | 45,019 | 68.27% | 2,572 | - Will continue to maintain a diversified investment portfolio and closely monitor market trends[68] - No other investments exceeding 2% of the Group's total assets[69] Human Resources As of June 30, 2025, the Group had 25 employees, an increase from 15 at the end of 2024; the Company provides training and development programs, links remuneration to performance, and considers granting share options - Number of employees: 25 as of June 30, 2025, 15 as of December 31, 2024[70] - Provides training and development programs, remuneration is linked to individual performance and Group business performance[70] - Considers granting share options to eligible employees[70] Management Outlook The Group is committed to business integration and restructuring to improve its financial position, will leverage existing technological knowledge and applications to diversify revenue streams, and continues to build a solid platform for sustainable development and potential growth, including exploring business opportunities such as interactive virtual reality games - Committed to business integration and restructuring to improve financial position[71] - Will leverage existing technological knowledge and applications to diversify revenue streams[71] - Continues to build a solid platform for sustainable development and potential growth[71] - Will continue to explore business opportunities such as interactive virtual reality games[71] Future Plans and Significant Matters As of June 30, 2025, the Group had no future plans for significant investments or capital assets, nor any significant acquisitions or disposals Future Plans for Significant Investments or Capital Assets As of June 30, 2025, the Group had no specific plans for significant investments or capital assets - No future plans for significant investments or capital assets[72] Significant Acquisitions and Disposals For the six months ended June 30, 2025, the Group had no significant acquisitions or disposals - No significant acquisitions or disposals[73] Other Information Corporate Governance Code The Company adopted and complied with the Corporate Governance Code set out in Appendix C1 of the Listing Rules - Adopted and complied with the Corporate Governance Code set out in Appendix C1 of the Listing Rules[76] Purchase, Sale or Redemption of the Company's Listed Securities For the six months ended June 30, 2025, neither the Company nor any of its subsidiaries purchased, redeemed, or sold any of the Company's listed securities - No purchase, redemption, or sale of the Company's listed securities during the reporting period[77] Directors' Securities Transactions The Company adopted the Model Code set out in Appendix C3 of the Listing Rules, and Directors confirmed full compliance with the Model Code during the reporting period - Adopted the Model Code set out in Appendix C3 of the Listing Rules[78] - Directors confirmed full compliance with the Model Code[79] Directors' and Chief Executive's Interests and Short Positions in Shares, Underlying Shares and Debentures As of June 30, 2025, no Directors or chief executive held interests or short positions in shares, underlying shares, and debentures required to be disclosed under the Securities and Futures Ordinance or the Model Code - No interests or short positions in shares, underlying shares, and debentures required to be disclosed by Directors or Chief Executive[80] Major Shareholders' Interests and Short Positions in Shares and Underlying Shares As of June 30, 2025, Pan Junyan, Song Qifeng, and Huang Hao were major shareholders of the Company, holding respectively 20.9%, 7.5%, and 5.1% of the issued share capital Major Shareholders' Shareholdings (As of June 30, 2025) | Name | Capacity | Number of Shares Held (shares) | Approximate Percentage of Issued Share Capital | | :--- | :--- | :--- | :--- | | Pan Junyan | Beneficial Owner | 125,940,000 | 20.9% | | Song Qifeng | Beneficial Owner | 45,318,000 | 7.5% | | Huang Hao | Beneficial Owner | 31,000,000 | 5.1% | Share Option Scheme The Company currently has no share option scheme in force - No share option scheme currently in force[85] Audit Committee The Audit Committee comprises three Independent Non-executive Directors and has reviewed the Group's accounting principles, internal controls, and financial reporting matters, including this interim financial information - Audit Committee comprises three Independent Non-executive Directors, with Mr. Wong Sze Lok as Chairman[86] - Reviewed the Group's accounting principles, internal controls, and financial reporting matters, including this interim financial information[86] Suspension of Trading Trading in the Company's shares has been suspended since April 2, 2024, due to the auditor's disclaimer of opinion on the financial statements; the Company is taking steps to comply with the Stock Exchange's resumption guidance - Trading in shares suspended since April 2, 2024[87] - Reason for suspension: Auditor's disclaimer of opinion on financial statements[87] - Company is taking steps to comply with the Stock Exchange's resumption guidance[87] Events After Reporting Period No significant events occurred after the reporting period as of the report date - No significant events after the reporting period[88] Board of Directors and Acknowledgement Board of Directors' information reconfirmed, and Executive Director Mr. Lam Chi Ka, on behalf of the Board, expressed gratitude to shareholders, business partners, customers, management team, and employees - Board Members: Mr. Lam Chi Ka (Executive Director), Ms. Pang Ching Yee, Mr. Tse Tung Leung, Mr. Wong Sze Lok (Independent Non-executive Directors)[89] - Expressed gratitude to shareholders, business partners, customers, management team, and employees[90]