CHARACTERISTICS OF GEM OF THE STOCK EXCHANGE OF HONG KONG LIMITED (THE "STOCK EXCHANGE")

GEM has been positioned as a market designed to accommodate small and mid-sized companies to which a higher investment risk may be attached than other companies listed on the Stock Exchange. Prospective investors should be aware of the potential risks of investing in such companies and should make the decision to invest only after due and careful consideration.

Given that the companies listed on GEM are generally small and mid-sized companies, there is a risk that securities traded on GEM may be more susceptible to high market volatility than securities traded on the Main Board and no assurance is given that there will be a liquid market in the securities traded on GEM.

This report, for which the directors (the "Directors") of Million Stars Holdings Limited (the "Company") collectively and individually accept full responsibility, includes particulars given in compliance with the Rules Governing the Listing of Securities on GEM of the Stock Exchange (the "GEM Listing Rules") for the purpose of giving information with regard to the Company. The Directors, having made all reasonable enquiries, confirm that to the best of their knowledge and belief the information contained in this report is accurate and complete in all material respects and not misleading or deceptive, and there are no other matters the omission of which would make any statement herein or this report misleading.

香港聯合交易所有限公司(「聯交所」)GEM特色

GEM的地位,乃為相比起其他在聯交所上市的公司帶有較高投資風險的中小型公司提供一個上市的市場。有意投資的人士應了解投資於該等公司的潛在風險,並應經過審慎周詳的考慮後方作出投資決定。

由於GEM上市公司一般為中小型公司,在GEM買賣的證券可能會較於主板買賣之證券承受較大的市場波動風險, 同時無法保證在GEM買賣的證券會有高流通量的市場。

本報告的資料乃遵照《聯交所GEM證券上市規則》(「GEM上市規則」)而刊載,旨在提供有關萬星控股有限公司(「本公司」)的資料;本公司的董事(「董事」)願就本報告的資料共同及個別地承擔全部責任。各董事在作出一切合理查詢後,確認就其所知及所信,本報告所載資料在各重要方面均屬準確完備,沒有誤導或欺詐成分,且並無遺漏任何其他事項,足以令致本報告所載任何陳述或本報告產生誤導。

CONTENTS 目錄

02	Corporate Information	公司資料
04	Chairman's Statement	主席報告
06	Management Discussion and Analysis	管理層討論及分析
14	Biographical Details of Directors and Senior Management	董事及高級管理人員簡歷
20	Report of the Directors	董事報告
36	Corporate Governance Report	企業管治報告
61	Environmental, Social and Governance Report	環境、社會及管治報告
97	Independent Auditor's Report	獨立核數師報告
106	Consolidated Statement of Profit or Loss and Other Comprehensive Income	綜合損益及其他全面收益表
107	Consolidated Statement of Financial Position	綜合財務狀況表
109	Consolidated Statement of Changes in Equity	綜合權益變動表
110	Consolidated Statement of Cash Flows	綜合現金流量表
112	Notes to the Consolidated Financial Statements	綜合財務報表附註
200	Five Year Financial Summary	五年財務概要

CORPORATE INFORMATION 公司資料

BOARD OF DIRECTORS

Executive Directors

Mr. ZHU Yongjun (duties as Chairman and Chief Executive Officer resigned on 17 April 2023) Mr. GAN Xiaohua (appointed as co-chairman with effect from 17 April 2023) Ms. TIAN Yuan (appointed as co-chairman with effect from 17 April 2023)

Independent Non-Executive Directors

Mr. CHEN Ce Ms. JIANG Ying Ms. ZHU Minli

AUDIT COMMITTEE

Mr. CHEN Ce — Chairman Ms. JIANG Ying Ms. ZHU Minli

REMUNERATION COMMITTEE

Ms. ZHU Minli — Chairlady Mr. CHEN Ce Ms. JIANG Ying

NOMINATION COMMITTEE

Ms. ZHU Minli — Chairlady Mr. CHEN Ce Ms. JIANG Ying

CORPORATE GOVERNANCE COMMITTEE

Mr. CHEN Ce — Chairman Ms. JIANG Ying Ms. ZHU Minli

AUTHORISED REPRESENTATIVES

Ms. TIAN Yuan Ms. FOO Man Yee Carina

COMPANY SECRETARY

Ms. FOO Man Yee Carina (ACG HKACG)

COMPLIANCE OFFICER

Ms. TIAN Yuan

REGISTERED OFFICE

Cricket Square, Hutchins Drive PO Box 2681, Grand Cayman KY1-1111, Cayman Islands

董事會

執行董事

朱勇軍先生(於二零二三年四月十七日辭任主席兼行政總裁) 甘曉華先生(於二零二三年四月十七日獲委任為聯席主席) 田園女士(於二零二三年四月十七日獲委任為聯席主席)

獨立非執行董事

陳策先生江穎女士朱敏麗女士

審核委員會

陳策先生 — 主席江穎女士朱敏麗女士

薪酬委員會

朱敏麗女士 — 主席陳策先生江穎女士

提名委員會

朱敏麗女士 — 主席陳策先生江穎女士

企業管治委員會

陳策先生 — 主席江穎女士朱敏麗女士

授權代表

田園女士傅曼儀女士

公司秘書

傅曼儀女士(ACG HKACG)

監察主任

田園女士

註冊辦事處

Cricket Square, Hutchins Drive PO Box 2681, Grand Cayman KY1-1111, Cayman Islands

CORPORATE INFORMATION 公司資料

HEADQUARTERS AND PRINCIPAL PLACE OF BUSINESS

Room 702, 7/F, Harbour Crystal Centre 100 Granville Road, Tsim Sha Tsui Kowloon, Hong Kong

PRINCIPAL SHARE REGISTRAR

Conyers Trust Company (Cayman) Limited

HONG KONG BRANCH SHARE REGISTRAR

Union Registrars Limited Suites 3301–04, 33/F Two Chinachem Exchange Square 338 King's Road North Point, Hong Kong

PRINCIPAL BANKERS

Bank of China (Hong Kong) Limited

AUDITORS

CCTH CPA Limited Certified Public Accountants Registered Public Interest Entity Auditor Unit 1510–1517, 15/F, Tower 2 Kowloon Commerce Centre No. 51 Kwai Cheong Road, Kwai Chung New Territories, Hong Kong (resigned on 15 August 2023)

Prism Hong Kong and Shanghai Limited Registered Public Interest Entity Auditor Units 1903A–1905, 19/F 8 Observatory Road Tsim Sha Tsui, Hong Kong (appointed on 15 August 2023)

WEBSITE

www.millionstars.hk

STOCK CODE

8093

總辦事處及主要營業地點

香港九龍尖沙咀加連威老道100號港晶中心7樓702室

股份過戶登記總處

Conyers Trust Company (Cayman) Limited

香港股份過戶登記分處

聯合證券登記有限公司香港北角英皇道338號華懋交易廣場2期 33樓3301–04室

主要往來銀行

中國銀行(香港)有限公司

核數師

中正天恆會計師有限公司執業會計師註冊公眾利益實體核數師香港新界葵涌葵昌路51號九龍貿易中心 2座15樓1510–1517室(於二零二三年八月十五日辭任)

上會栢誠會計師事務所有限公司註冊公眾利益實體核數師香港尖沙咀天文臺道8號 19樓1903A–1905室(於二零二三年八月十五日獲委任)

網站

www.millionstars.hk

股份代號

8093

CHAIRMAN'S STATEMENT 主席報告

Dear Shareholders, Investors and Partners,

The year 2022 was an extraordinary year. The macro environment underwent dramatic changes, with tumultuous and contentious international politics and daunting domestic anti-epidemic efforts. This had a significant and lingering impact on the economic and market environment of China and the world as a whole, causing great shocks to traditional market and marketing models, and presenting many challenges and uncertainties to the Group's existing businesses. This prompted us to rethink and make corresponding changes. In terms of business, we shifted from drastic innovation and expansion to first stabilizing the core business and then expanding; from pursuing growth to pursuing quality growth. In 2022, we underwent adjustments in our business and personnel, and keenly felt the discomfort and pain of shifting gears. However, divesting inefficient assets and reducing costs and increasing efficiency have always been our long-term and steadfast business strategies. We believe that a lighter-loaded Million Stars will surely reach new milestones.

To comply with the policy requirements of the Chinese government, the Group decided to gradually withdraw from the digital currency mining business. While gradually stabilizing the internet advertising agency sales and mobile game agency development and promotion business, the Group promoted the development of digitalization empowerment platform business to identify new growth points through exploration. Thanks to the tireless efforts of the entire management and staff, at the end of FY2022, the scale of internet advertising and mobile game agency development and promotion business rebounded significantly, indicating that the Group had successfully navigated through the difficult period and laid a solid foundation for the start of the new financial year.

During the year, the Group recorded revenue of approximately HK\$70 million, representing a year-on-year increase of approximately 50.9%. The increase was mainly due to the Group's readjustment of its operating model, focusing on retaining existing customers and increasing investment in internet mobile game business. During the year, the Group recorded a loss after tax of approximately HK\$30 million.

尊敬各位股東、投資者與合作夥伴:

二零二二年是不平凡的一年。宏觀環境經歷了劇烈變化,國際政治動盪與摩擦、國內抗疫艱巨,這對整個中國乃至全球經濟狀況及市場環境均產生較為嚴重且持續的影響,對傳統的市場及營銷模式帶來很大的衝擊,對本集團現有業務的開展帶來很多挑戰和不確定因素。這促使我們重新思考並做出相應轉變。業務上由大幅拓展和創新,轉為先穩主業再拓展;從追求增長到追求有質量的增長。二零二二年裡,我們經歷了業務和人員的調整,切實感受到了換擋的不適和陣痛,但剝離低效資產,降本增效是我們長期、堅定的經營策略。相信輕裝上陣的萬星控股勢必「新竹高於舊竹枝」。

為符合中國政府政策要求,集團公司決定逐步退出數字貨幣挖礦業務。在逐步企穩互聯網廣告代理銷售和手遊代理開發及推廣業務的同時,推動數字化賦能平台業務的開展,在探索中挖掘業績新的增長點。在全體管理層和員工的不懈努力下,二零二二年財年末期,互聯網廣告和手機遊戲代理開發及推廣業務規模大幅回升,預示著集團平穩度過困難期,為新財年的起步奠定良好的基礎。

年內,本集團之收入錄得約70百萬港元,較去年同期上升約50.9%。該上升主要歸因於本集團重新調整營運模式,抓住老客戶,增加投放互聯網手遊業務所致。年內,本集團錄得除稅後虧損約30百萬港元。

CHAIRMAN'S STATEMENT 主席報告

With the economic recovery, rising confidence among Chinese enterprises, and the rejuvenation of consumer markets, the Group continued to seize the trend of the internet's penetration into traditional industries and the digital transformation across various sectors, and concentrate resources to nurture new growth points and enhance the Group's overall competitiveness, with an aim to bringing higher returns to shareholders.

On behalf of the Group, I hereby present to the shareholders the Group's financial statements for the year ended 30 June 2023, review the Group's business development in 2022 and out the Group's strategies and outlook for 2023.

伴隨經濟復蘇,中國企業信心和消費市場的回暖,本集團繼續抓住互聯網對傳統行業的滲透以及各行各業的數字化轉型的趨勢,集中資源培育新的業績增長點,提升集團整體競爭力, 力求為股東帶來更高的回報。

在此謹代表本集團向各位股東提呈本公司截至二零二三年六月三十日止年度的財務狀況,回顧二零二二年的業務發展,並概述本公司二零二三年的戰略及展望。

Gan Xiaohua Tian Yuan Co-Chairman

29 September 2023

聯席主席 甘曉華田園

二零二三年九月二十九日

INTRODUCTION

The Group is an integrated group, which was principally engaged in internet advertising agency services, the build-up and operation of a digitalization empowerment platform, and digital assets business during the year.

BUSINESS REVIEW

The Group and its subsidiaries are principally engaged in internet advertising agency services and the build-up and operation of a digitalization empowerment platform, including the provision of game promotion, big data support, integrated marketing solutions, local language support and other services for its customers. During the second half of 2021, the Group has relied on its team with expertise in the field of digital assets business to expand its overseas cryptocurrency business. In March 2022, in response to the government policies in Mainland China, the Group made timely investment in the research and development and build-up of a digitalization empowerment platform, and upgraded the internet advertising empowerment system to provide government and enterprises with various services such as personalized advertising, creation and management of product sales channels, and customer loyalty enhancement.

Internet Advertising Agency Services: Million Stars Internet Media Limited ("MSIM"), a wholly-owned subsidiary of the Group, develops the overseas internet advertising market. Through global mainstream online platforms, including Facebook and Google, MSIM provides customers with access to global advertising, including the provision of game promotion, big data support, integrated marketing solutions, local language support and account stabilisation services for its customers. Seizing the opportunity of the rapid development of the Internet, the Group will continue to adjust the investments in the internet advertising business and seek to tap on revenue streams of the Internet.

Digitalization Empowerment Platform: Following the rollout of the overseas internet advertising agency services, the Group timely launched the digitalization empowerment system to tap the advertising market in Mainland China. The system incorporates online and offline functions. In particular, "Million Stars Promotion Machine" (萬星促銷機), an intelligent advertising device that comes with a product vending function, was a major breakthrough.

簡介

本集團為一間綜合集團,於年內主要從事互聯網廣告代理服務、數字化產業賦能平台的建設與運營以及數字資產業務。

業務回顧

本集團及附屬公司主要從事互聯網廣告代理服務、數字化產業賦能平台的建設與運營。包括為客戶提供遊戲推廣、大數據支援、整合營銷方案、當地語系化支持等服務。二零二一年下半年,集團依託自身在數字資產業務領域擁有專業知識的團隊,拓展海外加密貨幣業務。二零二二年三月,為回應中國大陸政府政策,集團適時投入數字化產業賦能平台的研發與建設,升級互聯網廣告賦能系統,為政府和企業提供個性化廣告賦能、產品銷售管道建設與管理、增強客戶黏性等服務。

互聯網廣告代理服務:本集團全資附屬公司萬星網路傳媒有限公司(「萬星網路」)發展海外互聯網廣告市場,萬星網絡通過全球主流網絡平臺Facebook、Google等為其客戶提供覆蓋全球的廣告投放服務,包括為其客戶提供遊戲推廣、大數據支援、整合營銷方案、當地語系化支持、穩定帳號等服務。本集團繼續抓住互聯網飛速發展的機會,調整對互聯網廣告業務的投資力度,努力拓展互聯網收入來源。

數字化產業賦能平台:在海外互聯網廣告代理業務基礎上,本集團為拓展中國大陸廣告市場,適時推出數字化產業賦能系統,該系統包括線上和線下功能,其中自帶產品銷售功能的智能廣告設備「萬星促銷機」為一重大突破。

"Million Stars Promotion Machine" can be installed indoors or outdoors, and is connected to various payment systems for customers' convenience to pay on mobile phones. The product has been well received by the market since launch.

Junjing Business Management (Zhejiang) Co., Ltd.* (雋景商業管理(浙江)有限公司), a wholly-owned subsidiary of the Group, has established cooperation with a number of strong organizations for "Million Stars Promotion Machine". In June 2023, the digitalization empowerment platform started launching a new generation of "Million Stars Promotion Machine", which integrates cashier, sales and inventory, marketing management, and push advertising, which can be widely applied to all kinds of merchandising stores with promising outlook.

By the end of June 2023, digitalization empowerment platform business achieved operating income of approximately HK\$30.9 million.

OUTLOOK

With the rapid recovery of the Chinese economy, the Group's internet advertising and digitalization empowerment platform businesses will continue to develop steadily. The Group and its wholly-owned subsidiaries are also committed to product development and business expansion, consolidating existing businesses and seeking new opportunities. In June 2023, the Group successfully launched the new generation of "Million Stars Promotion Machine" with built-in cashier and targeted marketing functions. It is expected to become a revenue-generating tool for various retail stores, bringing new business growth points for the Group.

「萬星促銷機」可裝置於室內或室外,並對接了各種支付系統,方便顧客以手機支付,產品自推出後深受市場歡迎。

集團全資附屬公司雋景商業管理(浙江)有限公司已經與多家實力機構達成萬星促銷機業務合作。2023年6月,數字化產業賦能平台開始逐步推出集收銀、進銷存與營銷管理、推送廣告於一體的新一代萬星促銷機 — 該促銷機可廣泛應用於各類商品銷售門店,市場前景廣闊。

截至二零二三年六月底,數字化產業賦能平台業務實現營業收入約30.9百萬港元。

展望

隨著中國經濟快速複甦,本集團互聯網廣告和數字化產業賦能平台的業務將繼續穩步發展。集團及全資附屬公司亦致力產品研發與業務拓展,鞏固老業務、尋找新商機。二零二三年六月,本集團成功推出新一代自帶收銀功能及精准化營銷功能的萬星促銷機,有望成為各類零售門店的增收利器,將為本集團帶來新的業務增長點。

FINANCIAL REVIEW

Revenue

The Group's revenue principally represents income derived from the provision of internet advertising agency services and digitalization empowerment platform business.

The Group has recorded a revenue of approximately HK\$70.0 million for the year ended 30 June 2023, representing an increase of approximately 50.9% as compared with about HK\$46.4 million for the year ended 30 June 2022.

Revenue generated from the Internet advertising agency services business segment was approximately HK\$39.1 million, representing a decrease of approximately 1.3% as compared to that of last year. The decrease in revenue was mainly attributable to the reallocation of marketing budgets to performance-based advertising from traditional ways by advertisers, affected by the macroeconomic environment and fierce competition of internet advertising industry, and the service provided by the Group couldn't meet the higher requirements for advertising effectiveness. The Group tried to adjust its operation mode to recapture the lost customers and investment in mobile game business to further expand its internet business.

Revenue generated from the digitalization empowerment platform segment was approximately HK\$30.9 million, of which revenue from vending machine was HK\$2.1 million and revenue from gold trading was HK\$28.8 million. The Group conducted this business in a moderate manner to gradually expand it.

Cost of Sales and Gross Loss

Cost of sales mainly represents costs incurred for provision of internet advertising agency services and digitalization empowerment platform business during the year.

The Group's cost of sales amounted to approximately HK\$72.3 million for the year ended 30 June 2023. Cost of sales increased by approximately 58.6% as compared with the cost of sales for the year ended 30 June 2022.

Gross loss margin for the year ended 30 June 2023 was approximately 3.3%, which was 5.2% lower than the gross profit margin of approximately 1.9% for the year ended 30 June 2022. This was mainly due to the Group's investment in mobile game business in addition to the internet advertising agency business, representing an increase in initial investment costs, and the penetration into the market of digitalization empowerment platform business in the start-up stage, pursuing a strategy of small profits but quick turnover.

財務回顧

收入

本集團的收入主要指提供互聯網廣告代理服務及數字化產業賦能平台業務所產生的收入。

截至二零二三年六月三十日止年度,本集團錄得收入約70.0百萬港元,較截至二零二二年六月三十日止年度約46.4百萬港元增加約50.9%。

互聯網廣告代理服務業務分部產生的收入約為 39.1百萬港元,較去年下降約1.3%。收入減少乃主要由於受宏觀經濟環境及互聯網廣告行業激烈競爭影響,廣告商將營銷預算從傳統方式重新分配至基於效果的廣告,而本集團提供的服務無法滿足對廣告效果的更高要求。本集團努力調整其營運模式,以重新奪回失去的客戶,並增加投放手遊業務,進一步拓展互聯網業務。

數字化產業賦能平台業務分部產生的收入約為 30.9百萬港元,其中自動販賣機收入2.1百萬港元,28.8百萬港元來自黃金貿易收入。本集團以適度方式開展此業務分部,力爭業務慢慢擴大。

銷售成本及毛損

銷售成本主要指年內提供互聯網廣告代理服務及數字化產業賦能平台業務產生之成本。

本集團截至二零二三年六月三十日止年度的銷售成本約為72.3百萬港元。銷售成本較截至二零二二年六月三十日止年度的銷售成本上升約 58.6%。

截至二零二三年六月三十日止年度的毛損率約為3.3%,較截至二零二二年六月三十日止年度的毛利率約1.9%低5.2%,主要由於集團在互聯網廣告代理業務中又新增投放手遊業務,初期投放成本增加所致及數字化產業賦能平台業務初期打開市場薄利多銷所致。

Other Income, Gains and Losses, Net

Other income, gains and losses, net, mainly represents sundry income or (losses) incidental to our business, principally including interest income, impairment loss recognised on trade and other receivables and exchange gains and losses.

Other income, gains and losses, net, amounted to net losses of approximately HK\$7.1 million for the year ended 30 June 2023 compared to net losses of approximately HK\$69.8 million for the year ended 30 June 2022. The annual losses mainly derived from the impairment loss recognised on trade and other receivables of internet advertising business in the early stage.

Selling and Distribution Expenses

Selling and distribution expenses comprise mainly payroll expenses and advertising expenses. The selling and distribution expenses for the year ended 30 June 2023 and 2022 were approximately HK\$1.1 million and HK\$0.4 million respectively. The increase in selling and distribution expenses was mainly due to the increase in advertising planning and consulting service fees of digitalization empowerment platform business in the early stage.

Administrative Expenses

Administrative expenses comprise mainly payroll expenses, rent, depreciation, operating expenses and other office administrative expenses. Administrative expenses were approximately HK\$17.8 million for the year ended 30 June 2023, while amounted to approximately HK\$29.7 million for the year ended 30 June 2022, representing a decrease of approximately 40%.

The lower administrative expenses for the year ended 30 June 2023 were recorded mainly due to reduction in depreciation charge and staff costs.

Finance Costs

Finance costs increased to HK\$1.7 million during the year ended 30 June 2023 from HK\$0.3 million during the year ended 30 June 2022, primarily due to interest paid to shareholders and directors and interest expenses on discounted bills.

Income Tax Expense

Income tax represents Hong Kong profits tax at 16.5% for the Company's subsidiaries in Hong Kong and PRC Enterprise Income Tax at 25% for the Company's subsidiaries in the PRC.

其他收入、收益及虧損淨額

其他收入、收益及虧損淨額主要指與我們業務相關的雜項收入或(虧損),主要包括利息收入、已確認貿易及其他應收款項減值虧損及匯兌損益等。

截至二零二三年六月三十日止年度,其他收入、收益及虧損淨額為淨虧損約7.1百萬港元, 而截至二零二二年六月三十日止年度則為淨虧損約69.8百萬港元。年度虧損主要來自於前期互聯網廣告業務貿易及其他應收款所確認的減值虧損。

銷售及分銷開支

銷售及分銷開支主要包括薪金費用及廣告費等。截至二零二三年及二零二二年六月三十日止年度的銷售及分銷開支分別為約1.1百萬港元及0.4百萬港元。銷售及分銷開支增加乃主要由於數字化產業賦能平台業務前期廣告策劃,諮詢服務費增加所致。

行政開支

行政開支主要包括薪金開支、租金、折舊、營運費用以及其他辦公室行政開支。行政開支於截至二零二三年六月三十日止年度約17.8百萬港元,而截至二零二二年六月三十日止年度約 29.7百萬港元,跌幅約為40%。

截至二零二三年六月三十日止年度錄得較低行政開支,乃主要由於折舊費減少及精簡人員成本所致。

財務成本

財務成本由截至二零二二年六月三十日止年度的0.3百萬港元增加至截至二零二三年六月三十日止年度的1.7百萬港元,主要由於股東及董事利息及貼現票據利息開支。

所得稅開支

所得稅指本公司香港附屬公司按16.5%稅率繳納的香港利得稅及本公司中國附屬公司按25% 稅率繳納的中國企業所得稅。

Loss for the Year

The Group recorded a loss for the year of approximately HK\$30 million and HK\$99.5 million for the year ended 30 June 2023 and 2022 respectively.

Financial Position, Liquidity and Financial Resources

The Group adopts a prudent cash and financial management policy. In order to achieve better cost control and minimise the costs of funds, the Group's treasury activities are centralised and cash is generally deposited with banks in Hong Kong and Mainland China.

The Group has maintained its funds at a sound and healthy financial resource level during the year under review. As at 30 June 2023, included in net current assets were cash and bank balances (including pledged bank deposits and restricted bank deposits) totalling approximately HK\$30.7 million (30 June 2022: HK\$19.9 million), the increase in which was mainly attributable to the extension of payment terms on the settlement with suppliers.

The Group's outstanding interest-bearing borrowings as at 30 June 2023 amounting to HK\$4.7 million (30 June 2022: HK\$23.1 million) were principally denominated in HKD and RMB and carried at fixed interest rates.

The Group monitored capital using gearing ratio, which is total debt of the Group divided by total equity of the Group.

Total debt to equity ratio of the Group expressed as a percentage of borrowings over the total equity was approximately 34.7% as at 30 June 2023 (30 June 2022: 43.8%).

Property, Plant and Equipment

The Group has recorded property, plant and equipment of approximately HK\$2.4 million as at 30 June 2023, representing a decrease of approximately HK\$2.3 million, as compared with about HK\$4.7 million as at 30 June 2022. The decrease of property, plant and equipment by HK\$2.3 million was mainly due to the depreciation charge and certain assets classified as held for sale.

Trade Receivables

The Group's trade receivables was HK\$35.4 million as at 30 June 2023 (30 June 2022: Nil). The increase in trade receivables for the year was mainly due to the revenue growth of digitalization empowerment platform business during the year.

年內虧損

本集團截至二零二三年及二零二二年六月三十日止年度分別錄得年內虧損約30百萬港元及 99.5百萬港元。

財務狀況、流動資金及財務資源

本集團採取審慎的現金及財務管理政策。為求更有效控制成本及盡量降低資金成本,本集團的財資活動均為集中管理,而現金一般會存放於香港和中國內地的銀行。

於回顧年度內,本集團的資金維持於穩建的財務資源水平。於二零二三年六月三十日,本集團計入流動資產淨值的現金及銀行結餘(包括已抵押銀行存款及受限制銀行存款)總額約為 30.7百萬港元(二零二二年六月三十日:19.9 百萬港元),有關增加乃主要由於與供應商支付結算期限延長所致。

於二零二三年六月三十日,本集團的尚未償還有息借貸4.7百萬港元(二零二二年六月三十日: 23.1百萬港元)主要以港元及人民幣計值,並以固定利率計息。

本集團採用資本負債比率(按本集團債務總額除以本集團權益總額計算)監控資本。

於二零二三年六月三十日,本集團的債務總額對權益比率(按借貸除以權益總額計算)約為 34.7%(二零二二年六月三十日:43.8%)。

物業、廠房及設備

於二零二三年六月三十日,本集團錄得物業、廠房及設備約2.4百萬港元,較於二零二二年六月三十日約4.7百萬港元減少約2.3百萬港元。物業、廠房及設備減少2.3百萬港元乃主要由於本年度折舊費用及部分分類為持有待售資產所致。

貿易應收款項

於二零二三年六月三十日,本集團的貿易應收款項為35.4百萬港元(二零二二年六月三十日: 無)。本年度貿易應收款項增加主要由於年內數字化產業賦能平台業務收入增長所致。

Financial Management Policies

The Group in its ordinary course of business is exposed to market risks such as currency risk and interest rate risk. The Group's risk management policy aims to minimise the adverse effects of these risks on its financial performance.

Cash is generally deposited with banks in Hong Kong and Mainland China, which is denominated mostly in United States dollars, Hong Kong dollars and Renminbi. Hong Kong dollars are pegged to United States dollars under the current policy of the Government of Hong Kong.

As the Group's trading transactions, monetary assets and liabilities in Mainland China are denominated mainly in Renminbi, and trading transactions, monetary assets and liabilities in Hong Kong and overseas are denominated mainly in Hong Kong dollars (being the Group's operating and reporting currencies) and United States dollars (to which Hong Kong dollars were pegged), the impact of foreign exchange exposure to the Group was minimal and the changes in foreign exchange rates did not have a significant adverse effect on normal operations during the reporting period.

With the current interest rates staying at relatively low levels, the Group has not entered into any interest rate hedging contracts or any other interest rate related derivative financial instrument. However, the Group continues to monitor its related interest rate exposure closely.

Charge over Assets of the Group

As at 30 June 2023, there is no pledged bank deposits of the Group to support the Group's banking facilities (30 June 2022: Nil).

Capital Commitments

As at 30 June 2023, the Group did not have any significant capital commitment (30 June 2022: Nil).

Contingent Liabilities

As at 30 June 2023, the Group did not have any significant contingent liability (30 June 2022: Nil).

財務管理政策

本集團於其一般業務過程中面臨貨幣風險及利率風險等市場風險。本集團的風險管理政策旨在將該等風險對其財務表現的不利影響降至最低。

現金一般會存放於香港及中國內地的銀行,並主要以美元、港元及人民幣計值。港元根據香港政府現行的政策與美元掛鈎。

由於本集團中國內地的買賣交易、貨幣資產及負債主要以人民幣計值,香港和海外的買賣交易、貨幣資產及負債主要以港元(本集團的營運及呈報貨幣)及美元(與港元掛鈎)計值,外匯風險對本集團的影響甚微,而外匯匯率變動於報告期間對日常營運並無任何重大不利影響。

由於現行利率處於相對較低水平,故本集團並無訂立任何利率對沖合約或任何其他利率相關衍生金融工具。然而,本集團繼續密切監察其所面對的相關利率風險。

本集團的資產質押

於二零二三年六月三十日,本集團概無已抵押銀行存款擔保本集團之銀行融資(二零二二年六月三十日:無)。

資本承擔

於二零二三年六月三十日,本集團並無任何重大資本承擔(二零二二年六月三十日:無)。

或然負債

於二零二三年六月三十日,本集團並無任何重大或然負債(二零二二年六月三十日:無)。

Risk Management and Uncertainties

The Board believes that risk management is essential to the Group's efficient and effective operation. The Group's management assists the Board in periodic evaluation of principal risks exposed to the Group and estimation made for the uncertainties; and participates in formulating appropriate risk management and internal control measures for the purpose of ongoing monitoring of such risks and assessing the appropriateness of such estimations.

MATERIAL ACQUISITIONS AND DISPOSALS

During the year ended 30 June 2023, the Group did not have any material acquisition or disposal.

EVENTS AFTER THE REPORTING PERIOD

Save as disclosed in this report, there is no significant event that took place subsequent to 30 June 2023.

EMPLOYEES AND REMUNERATION POLICY

As at 30 June 2023, the Group had a workforce of 22 employees (2022: 28). Total staff costs for the year ended 30 June 2023 were approximately HK\$5.4 million, as compared to total staff costs of HK\$6.3 million for the year ended 30 June 2022.

The emolument policy of the employees of the Group is formulated by the Remuneration Committee (as defined below) with reference to the duties, responsibilities, experience and competence of individual employees. The same policy also applies to the Directors. In addition to salaries and discretionary bonuses relating to the performance of the Group, employee benefits included pension scheme contributions. The emoluments of the Directors are reviewed annually by the remuneration committee of the Company ("Remuneration Committee").

As incentives and rewards for their contributions to the Group, the employees of the Group and all the Directors (including the independent non-executive Directors) may also be granted share options by the Company from time to time pursuant to the share option scheme of the Company adopted on 28 January 2015.

The Group provides various training to its employees to enhance their technical skills and knowledge relevant to the employees' responsibilities. The Group also provides its employees with quality control standards and work safety standards training to enhance their safety awareness.

風險管理及不確定因素

董事會認為,風險管理對於本集團有效運營而言屬必要。本集團管理層協助董事會定期評估本集團所面臨的主要風險,並就不確定因素作出估計;參與制定適當風險管理及內部監控措施,以持續監控有關風險及評估有關估計的適當性。

重大收購及出售事項

於截至二零二三年六月三十日止年度,本集團並無任何重大收購或出售事項。

報告期後事項

除本報告所披露者外,於二零二三年六月三十日後並無發生任何重大事項。

僱員及薪酬政策

於二零二三年六月三十日,本集團有22名 (二零二二年:28名)僱員。截至二零二三年六月三十日止年度之總員工成本約為5.4百萬港元,而截至二零二二年六月三十日止年度之總員工成本為6.3百萬港元。

本集團之僱員薪酬政策乃由薪酬委員會(定義見下文)參考僱員的責任、職責、經驗及能力制定。相同政策亦適用於董事。除薪金及有關本集團表現之酌情花紅外,僱員福利亦包括退休金計劃供款。董事酬金由本公司薪酬委員會 (「薪酬委員會」)每年審閱。

本集團僱員及全體董事(包括獨立非執行董事) 亦可獲授本公司根據於二零一五年一月二十八日採納之本公司購股權計劃不時授出之購股權,作為對彼等為本集團作出貢獻之鼓勵及獎勵。

本集團為其僱員提供各種培訓,以提高彼等的技術技能及僱員責任相關的知識。本集團亦為其僱員提供質素監控標準及工作安全標準方面的培訓以提高彼等的安全意識。

The employees in Hong Kong are enrolled in the Mandatory Provident Fund under the Hong Kong Mandatory Provident Fund Schemes Ordinance. Monthly contributions are made by the Group which are 5% of the monthly income of the employees as stipulated under the relevant requirements (if applicable), with the maximum contributions of HK\$1,500 monthly.

Pursuant to the regulations of the relevant authorities in the PRC, the employees in PRC shall be enrolled in the respective government retirement benefit schemes (the "Schemes") whereby the Group is required to contribute to the Schemes to fund the retirement benefits of the eligible employees. Contributions made to the Schemes are calculated based on certain percentages of the applicable payroll costs as stipulated under the requirements in the PRC. The relevant authorities of the PRC are responsible for the entire pension obligations payable to the retired employees. The only obligation of the Group with respect to the Schemes is to pay the ongoing required contributions under the Schemes.

香港僱員根據香港強制性公積金計劃條例加入強制性公積金。本集團按月作出供款,供款額為根據相關規定(如適用)所訂明之僱員月收入之5%,每月最高供款額為1,500港元。

根據中國有關當局規例,中國僱員須加入有關政府退休福利計劃(「計劃」),而本集團須向計劃作出供款,以支付合資格僱員之退休福利。向計劃作出之供款乃根據中國之規定所訂明之適用薪金成本之若干百分比計算。中國有關當局對應付退休僱員的全部退休金責任負責。本集團有關計劃之唯一責任乃持續支付計劃的規定供款。

EXECUTIVE DIRECTORS

Zhu Yongjun

Executive Director

Mr. Zhu Yongjun ("Mr. Zhu"), aged 42, has been appointed as an executive Director of the Company on 24 February 2017, the chairman of the Board and the chief executive officer ("CEO") of the Company on 17 March 2017. He stepped down as the CEO on 5 September 2017. Mr. Zhu has been appointed as the CEO of the Company with effect from 11 November 2020. He has ceased to be the chairman of the Board and the CEO with effect from 17 April 2023. Mr. Zhu also serves as a director of certain subsidiaries of the Company.

Mr. Zhu is experienced in investment management. Mr. Zhu has been the founder, chairman and chief executive officer of Shanghai Financial Investment Information Services Company Limited* (上海尋投金融信息服務有限公司) since 2014 and was the founder of Taizhou Sifang Network Company Limited* (泰州四方網絡有限公司) in 2005. He was the general manager of the network department of China Telecommunications Taizhou Industrial Corporation* (中國電信泰州實業公司) from 2004 to 2005. Mr. Zhu holds a bachelor's degree in economic information management from Jiangnan University.

As at the date of this annual report, Mr. Zhu is beneficially interested in 38,398,786 shares of the Company.

執行董事朱勇軍

執行董事

朱勇軍先生(「朱先生」),42歲,於二零一七年二月二十四日獲委任為本公司執行董事及於二零一七年三月十七日獲委任為本公司董事會主席兼行政總裁(「行政總裁」)。彼於二零一七年九月五日退任行政總裁。朱先生獲委任為本公司的行政總裁,自二零二零年十一月十一日起生效。彼於二零二三年四月十七日起不再為董事會主席及行政總裁。朱先生亦於本公司若干附屬公司擔任董事。

朱先生於投資管理擁有豐富經驗。自二零一四年起,朱先生為上海尋投金融信息服務有限公司之創辦人、主席兼行政總裁,並於二零零五年為泰州四方網絡有限公司之創辦人。自二零零四年至二零零五年,彼為中國電信泰州實業公司之網絡部總經理。朱先生持有江南大學經濟信息管理學士學位。

於本年報日期, 朱先生實益擁有本公司 38,398,786股股份之權益。

EXECUTIVE DIRECTORS (continued)

Gan Xiaohua

Co-chairman and Executive Director

Mr. Gan Xiaohua ("Mr. Gan"), aged 50, has been appointed as an executive Director of the Company on 25 July 2022. He has been appointed as the co-chairman of the Board with effect from 17 April 2023. He currently serves as the chairman of Zhejiang Surong Technology Co., Ltd. (浙江速融科技有限公司). He graduated from the Zhejiang University in July 1994 with a bachelor degree in computer application. From September 1994 to October 1999, Mr. Gan worked at Zhongcheng Xingda Electronics Co., Ltd. (中程興達電子有限公司) of the logistics center of Zhejiang University; from July 2000 to November 2008, he served as the general manager of Shanghai Zeou Information Technology Co., Ltd. (上海澤歐信息科技有限公司); from December 2008 to June 2014, he served as the chairman and general manager of Hangzhou Rongbang Investment Management Company Limited (杭州融邦投資管理有限公司); from July 2014 to June 2016, he served as the general manager of Hangzhou Guangda Equity Investment Fund Management Company Limited (杭州光大股權投資基金管理有限公司); and from July 2016 to present, he served as the chairman of Zhejiang Surong Technology Co., Ltd. (浙江速融科技有限公司).

As at the date of this annual report, Mr. Gan is beneficially interest in 8,005,000 shares of the Company.

執行董事(續)

甘曉華

聯席主席兼執行董事

甘曉華先生(「甘先生」),50歲,於二零二二年七月二十五日獲委任為本公司執行董事。彼於二零二三年四月十七日獲委任為董事會聯席主席。彼現為浙江速融科技有限公司董事長。彼於一九九四年七月畢業於浙江大學,獲計算機應用專業學士學位。甘先生在一九九四年九月至一九九九年十月期間任職於浙大後勤中心中程興達電子有限公司;二零零零年七月至二零零八年十一月,於上海澤歐信息科技有限公司擔任總經理;二零零八年十二月至二零一四年六月,於杭州融邦投資管理有限公司擔任董事長兼總經理;二零一四年七月至二零一六年六月,於杭州光大股權投資基金管理有限公司擔任總經理;二零一六年七月至今,於浙江速融科技有限公司擔任董事長。

於本年報日期, 甘先生實益擁有本公司 8,005,000股股份之權益。

EXECUTIVE DIRECTORS (continued)

Tian Yuan

Co-chairman and Executive Director

Ms. Tian Yuan ("Ms. Tian"), aged 48, has been appointed as an executive Director of the Company on 28 July 2017. She has been appointed as the co-chairman of the Board with effect from 17 April 2023. Ms. Tian also serves as a director of certain subsidiaries of the Company.

Ms. Tian obtained her bachelor's degree in economics from the University of California, Los Angeles and her master of science in financial engineering degree from the University of Michigan Ann Arbor.

Ms. Tian previously worked for US I.B. Fund Management Limited, Societe Generale Securities Hong Kong, Ltd, the Investment Management Department of Legend Holdings Ltd and other financial enterprises. She is experienced in technical analysis of foreign exchange, foreign exchange trading, derivatives development, trading and sales, financial product investment, the establishment and operation of investment funds, private equity, capital market investment, financing etc.

Ms. Tian is now the general manager of Shanghai Angell Asset Management Company Limited, the deputy general manager of Jilin Province Investment Group Company Limited* (吉林省投資集團有限公司) and the director and deputy general manager of Haitong Jihe Equity Investment Fund Management Co., Ltd.* (海通吉禾股權投資基金管理有限公司). She is also the member of the Investment Committee of Jilin Province Modern Agriculture and New Industrial Investment Fund Limited Company* (吉林省現代農業和新興產業投資基金有限公司) and Jilin Province National New Energy Venture Investment Fund (Limited Partnership)* (吉林省國家新能源創業投資基金合夥企業(有限合夥)投委會), and the director of the Investment Committee of Jilin Province Ageing Service Industry Fund (Limited Partnership)* (吉林省養老服務產業基金合夥企業(有限合夥)).

Ms. Tian is a director of Shanghai Hutong Investments Centre (Limited Partnership)* (上海胡桐投資中心(有限合夥)) which is a substantial shareholder of the Company.

執行董事(續)

田園

聯席主席兼執行董事

田園女士(「田女士」),48歲,於二零一七年七月二十八日獲委任為本公司執行董事。彼於二零二三年四月十七日獲委任為董事會聯席主席。田女士亦於本公司若干附屬公司擔任董事。

田女士於加州大學洛杉磯分校取得經濟學學士學位,並於密芝根大學安娜堡校區取得金融工程理學碩士學位。

田女士曾於US I.B. Fund Management Limited、法國興業證券(香港)有限公司、聯想控股有限公司之投資管理部及其他金融企業任職。彼於外匯技術分析、外匯交易、衍生工具開發、交易及銷售、金融產品投資、成立及營運投資基金、私募股權、資本市場投資、融資等方面經驗豐富。

田女士現為上海昂巨資產管理有限公司之總經理、吉林省投資集團有限公司之副總經理及海通吉禾股權投資基金管理有限公司之董事兼副總經理。彼亦為吉林省現代農業和新興產業投資基金有限公司及吉林省國家新能源創業投資基金合夥企業(有限合夥)投委會成員,以及吉林省養老服務產業基金合夥企業(有限合夥)投資委員會之主任。

田女士為本公司主要股東上海胡桐投資中心(有限合夥)的董事。

INDEPENDENT NON-EXECUTIVE DIRECTORS

Chen Ce

Independent Non-executive Director

Mr. Chen Ce ("Mr. Chen"), aged 37, has been appointed as an independent non-executive Director of the Company on 1 January 2018. He is now serving as the chairman of audit committee and corporate governance committee, and a member of remuneration committee and nomination committee of the Company.

Mr. Chen has been a senior investment manager of Haitong Capital Investment Co., Ltd. since August 2011 and is mainly responsible for pre-investment research, post-investment management and coordination between relevant parties of investment projects. Before joining Haitong Capital Investment Co., Ltd., Mr. Chen worked as an analyst of the Investment Center of the State Administration of Foreign Exchange from July 2010 to May 2011 and was mainly responsible for calculation and statistical work relating to daily foreign exchange positions as well as monthly performance analysis and attribution. Prior to this, Mr. Chen successively worked for Shanghai Lixin Ruisi Information Management Co., Ltd. and Tebon Securities Co., Ltd. in various positions during the period from June 2008 to December 2009.

Mr. Chen obtained a master's degree in management from the School of Management of Fudan University in June 2010 and a bachelor's degree in management from the School of Management of Xiamen University in June 2007. Mr. Chen is also a certified public accountant, a non-practising member of the Chinese Institute of Certified Public Accountants, and a CFA charterholder. Mr. Chen is a qualified securities practitioner and funds practitioner.

獨立非執行董事

陳策

獨立非執行董事

陳策先生(「陳先生」),37歲,於二零一八年一月一日獲委任為本公司獨立非執行董事。彼現為本公司審核委員會和企業管治委員會主席以及薪酬委員會及提名委員會成員。

陳先生自二零一一年八月起擔任海通開元投資有限公司高級投資經理,主要負責業務範圍涉及投前調研以至投後管理,協調投資項目相關各方。加盟海通開元投資有限公司前,陳先生於二零一零年七月至二零一一年五月擔任外管局中央外匯業務中心分析員,主要負責每日外匯頭寸核算統計以及每月業績分析及歸因。此前,於二零零八年六月至二零零九年十二月期間,陳先生曾先後任職於上海立信銳思信息管理有限公司及德邦證券有限責任公司,擔任不同職位。

陳先生於二零一零年六月取得復旦大學管理學院管理學碩士學位,二零零七年六月取得廈門大學管理學院管理學學士學位。此外,陳先生為註冊會計師、中國註冊會計師協會非執業會員,亦為特許金融分析師,擁有證券從業資格及基金從業資格。

INDEPENDENT NON-EXECUTIVE DIRECTORS (continued)

Zhu Minli

Independent Non-executive Director

Ms. Zhu Minli ("Ms. Zhu"), aged 40, has been appointed as an independent non-executive Director with effect from 11 December 2020. She is now serving as a member of audit committee and corporate governance committee and the chairlady of remuneration committee and nomination committee of the Company.

Ms. Zhu currently serves as an assistant to the executive president of Jilin Changbaishan Equity Investment Management Co., Ltd.* (吉林長白山股權投資管理有限公司). Previously, Ms. Zhu has served as the director of risk control of Beijing Jixin Huijin Fund Management Company Limited* (北京吉信匯金基金管理有限公司 ), a risk control manager of Haitong Jihe Private Equity Investment Fund Management Company Limited* (海通吉禾股權投資基金管理有限責任公司), and a department manager of Ruihua China CPAs.

Ms. Zhu has been engaged in investment management for many years, mainly responsible for the risk management and control of investment projects, the establishment and continuous improvement of corporate internal control systems, and the supervision of effective implementation of internal control mechanisms. Ms. Zhu also has many years of experience in financial auditing. During her tenure, she was responsible for the auditing of a number of well-known companies, and possessed comprehensive and solid accounting knowledge and financial analysis capability.

Ms. Zhu is a certified public accountant of China and a qualified fund practitioner. Ms. Zhu holds a bachelor's degree in management from Changchun University (長春大學), majoring in financial management.

獨立非執行董事(續)

朱敏麗

獨立非執行董事

朱敏麗女士(「朱女士」),40歲,自二零二零年十二月十一日起獲委任為獨立非執行董事。彼現為本公司審核委員會及企業管治委員會成員,以及薪酬委員會及提名委員會主席。

朱女士現任吉林長白山股權投資管理有限公司執行總裁助理。在此前,朱女士曾任北京吉信匯金基金管理有限公司風控總監、海通吉禾股權投資基金管理有限責任公司風控經理及瑞華會計師事務所部門經理職務。

朱女士從事投資管理工作多年,彼主要負責投資項目的風險管理及控制、建立及持續改善公司內部監控系統、監督內部監控機制得到有效實施。朱女士亦具有多年財務審計經驗,彼於任職期間負責多家知名企業的審計工作,具備全面而紥實的會計知識及財務分析能力。

朱女士為中國註冊會計師,擁有基金從業資格。朱女士持有長春大學管理學學士學位,主修財務管理學。

* for identification only * 僅供識別

INDEPENDENT NON-EXECUTIVE DIRECTORS (continued)

Jiang Ying

Independent Non-executive Director

Ms. Jiang Ying ("Ms. Jiang"), aged 35, has been appointed as an independent non-executive Director of the Company with effect from 11 December 2020. She is now serving as a member of audit committee, remuneration committee, nomination committee and corporate governance committee of the Company.

Ms. Jiang has extensive experience in corporate governance. She currently works at a large group company, responsible for company secretary work of subsidiaries of the group. Ms. Jiang worked for several Hong Kong companies listed on Main Board, responsible for internal control and listing compliance. Ms. Jiang held management positions at several companies in the past, including CEO secretary of CMBC Capital Holdings Limited (Stock Code: 1141) (formerly known as Skyway Securities Group Limited), a company listed on the Main Board of the Stock Exchange; business developer and IT manager of Carlton Mansfield Limited.

Ms. Jiang holds professional qualifications of "Chartered Secretary" and "Chartered Governance Professional", and is a member of The Hong Kong Chartered Governance Institute. Ms. Jiang holds a bachelor's degree in advertising from Communication University of China, a master's degree in new media from The Chinese University of Hong Kong and a master's degree in professional accounting and corporate governance from City University of Hong Kong.

獨立非執行董事(續)

江穎

獨立非執行董事

江穎女士(「江女士」),35歲,自二零二零年十二月十一日起獲委任為本公司獨立非執行董事。彼現為本公司審核委員會、薪酬委員會、提名委員會及企業管治委員會成員。

江女士擁有豐富的企業管治經驗。現任職於某大型集團企業,負責集團子公司之公司秘書工作。江女士曾任職多家香港主板上市公司,負責內部管控和上市合規工作。江女士過往曾於若干公司擔任管理職務,包括擔任民銀資本控股有限公司(前稱天順證券集團有限公司)(股份代號:1141,一間於聯交所主板上市的公司) 的行政總裁秘書; 擔任Carlton Mansfield Limited的業務發展及IT經理。

江女士持有「特許秘書」及「公司治理師」專業資格,彼為香港公司治理公會會員。江女士持有中國傳媒大學廣告學學士學位、香港中文大學新媒體碩士學位及香港城市大學專業會計和企業管治碩士學位。

The Directors are pleased to present their report and the audited consolidated financial statements of the Group for the year ended 30 June 2023.

PRINCIPAL ACTIVITIES

The principal activity of the Company is investment holding. The principal activities of the Company's principal subsidiaries are set out in note 35 to the consolidated financial statements.

RESULTS AND DIVIDEND

The results of the Group for the year ended 30 June 2023 are set out in the consolidated statement of profit or loss and other comprehensive income.

The Board does not recommend the payment of any dividend for the year ended 30 June 2023 (2022: Nil).

BUSINESS REVIEW

A review of the business of the Group during the year ended 30 June 2023 and a discussion on the Group's future business development, possible risks and uncertainties that the Group may be facing are provided in the Management Discussion and Analysis.

The financial risk management objectives and policies of the Group are shown in note 30 to the consolidated financial statements. An analysis of the Group's performance during the year ended 30 June 2023 using key financial performance indicators is provided in the Financial Review.

Discussion on the Group's environmental policies and performance, relationships with its key stakeholders and compliance with relevant laws and regulations which have a significant impact on the Group is provided in the Environmental, Social and Governance Report for the year ended 30 June 2023 is set out on page 61 to page 96.

RESERVES

Details of movements in the reserves of the Company and of the Group during the year are set out in note 31 to the consolidated financial statements and the consolidated statement of changes in equity on page 109 respectively.

董事欣然提呈其報告及本集團截至二零二三年六月三十日止年度之經審核綜合財務報表。

主要業務

本公司之主要業務為投資控股。本公司主要附屬公司之主要業務載於綜合財務報表附註35。

業績與股息

本集團於截至二零二三年六月三十日止年度之業績載於綜合損益及其他全面收益表。

董事會不建議派發截至二零二三年六月三十日止年度之任何股息(二零二二年:無)。

業務回顧

於截至二零二三年六月三十日止年度,本集團業務回顧及本集團未來業務發展、可能面對的風險及不確定因素的討論載於「管理層討論及分析」。

本集團的財務風險管理目標及政策已載於綜合財務報表附註30。採用關鍵財務表現指標進行的本集團截至二零二三年六月三十日止年度之表現分析載於財務回顧。

有關本集團的環保政策及表現、與主要持份者的關係以及遵守對本集團有重大影響的有關法律及規例的討論載於第61至96頁的截至二零二三年六月三十日止年度的環境、社會及管治報告。

儲備

於本年度內,本公司及本集團儲備的變動詳情分別載於綜合財務報表附註31及第109頁綜合權益變動表。

DISTRIBUTABLE RESERVES

Under the Companies Law of the Cayman Islands, as at 30 June 2023, the contributed surplus and share premium accounts are distributable to the Shareholders provided that immediately following the date on which any dividend is proposed to be distributed, the Company will be able to pay its debts as they fall due in the ordinary course of business.

Movements in the distributable reserves of the Company during the year ended 30 June 2023 are set out in note 31 to the consolidated financial statements.

PROPERTY, PLANT AND EQUIPMENT

Details of movements in the Group's property, plant and equipment during the year ended 30 June 2023 are set out in note 15 to the consolidated financial statements.

MAJOR CUSTOMERS AND SUPPLIERS

During the year ended 30 June 2023, sales to the Group's five largest customers accounted for 92.6% of the Group's total sales for the year and sales to the largest customer included therein amounted to 42.8%.

During the year ended 30 June 2023, purchases from the Group's five largest suppliers accounted for 92.2% of the Group's total purchases for the year and purchases from the Group's largest supplier included therein amounted to 39.7%.

Save as disclosed, none of the Directors or any of their close associates or any shareholders (which to the best knowledge of the Directors, own more than 5% of the Company's issued share capital) had any interest in the Group's five largest customers and suppliers.

RELATED PARTY TRANSACTIONS

Details of the significant related party transactions undertaken during the year under review are disclosed in note 34 to the consolidated financial statements. Save as disclosed below, these related party transactions either (i) do not constitute connected or continuing connected transactions or (ii) fall under the definition of a connected or continuing connected transaction, but are exempt from the reporting, annual review, announcement and independent shareholders' approval requirements under Chapter 20 of the GEM Listing Rules.

可分派儲備

根據開曼群島公司法,於二零二三年六月三十日,繳入盈餘及股份溢價賬可分派予股東,惟於緊隨建議分派股息當日後,本公司將可償還其於日常業務過程中到期之債務。

本公司於截至二零二三年六月三十日止年度可分派儲備的變動載於綜合財務報表附註31。

物業、廠房及設備

本集團於截至二零二三年六月三十日止年度的物業、廠房及設備變動詳情載於綜合財務報表附註15。

主要客戶及供應商

於截至二零二三年六月三十日止年度,本集團五大客戶的銷售額佔本集團本年度總銷售額 92.6%,其中最大客戶的銷售額佔42.8%。

於截至二零二三年六月三十日止年度,本集團從五大供應商的採購額佔本集團本年度總採購額的92.2%,其中從本集團最大供應商之採購額佔39.7%。

除所披露者外,董事或其任何緊密聯繫人或任何股東(就董事所知,持有本公司已發行股本超過5%)概無於本集團之五大客戶及供應商中擁有任何權益。

關聯方交易

於回顧年度進行之重大關聯方交易詳情於綜合財務報表附註34披露。除下文所披露者外,該等關聯方交易(i)不構成關連或持續關連交易或(ii) 亦不符合關連或持續關連交易之定義,惟獲豁免遵守GEM上市規則第20章項下任何有關申報、年度檢討、公告及獨立股東批准之規定。

DONATIONS

No charitable donation was made by the Group during the year ended 30 June 2023 (2022: Nil).

DIRECTORS

The Directors of the Company who held office during the year and up to the date of this report are:

Executive Directors:

Mr. ZHU Yongjun Mr. GAN Xiaohua (appointed on 25 July 2022) Ms. TIAN Yuan

Independent Non-executive Directors:

Mr. CHEN Ce Ms. ZHU Minli Ms. JIANG Ying

Mr. ZHU Yongjun ceased the chairman of the Board and chief executive director of the Company with effect from 17 April 2023 due to his intention to devote more time in his other commitments. Mr. Zhu has confirmed that he has no disagreement with the Board and nothing relating to the affairs of the Company need to be brought to the attention of the shareholders of the Company.

Pursuant to the Company's articles of association (the "Articles of Association"), Mr. Zhu Yongjun, Mr. Chen Ce and Ms. Jiang Ying will retire from the Board at the forthcoming annual general meeting and, being eligible, offer themselves for re-election as Directors at the forthcoming annual general meeting of the Company.

DIRECTORS' SERVICE CONTRACTS

As at 30 June 2023, none of the Directors has a service contract with the Company which is not determinable by the Company within one year without payment of compensation, other than statutory compensation.

INTERESTS IN TRANSACTIONS, ARRANGEMENTS AND CONTRACTS

No transaction, arrangement or contract of significance in relation to the Company's business to which any subsidiary of the Company or the ultimate holding company of the Company or any subsidiary of such ultimate holding company was a party and in which a Director of the Company or any entities connected with a Director of the Company had a material interest, whether directly or indirectly, subsisted at the end of the financial year or at any time during that financial year.

捐款

本集團於截至二零二三年六月三十日止年度並無作出慈善捐款(二零二二年:無)。

董事

於本年度內及直至本報告日期,本公司在職董事如下:

執行董事:

朱勇軍先生甘曉華先生(於二零二二年七月二十五日獲委任) 田園女士

獨立非執行董事:

陳策先生朱敏麗女士江穎女士

朱勇軍先生因擬投入更多時間於彼之其他事務而不再擔任本公司董事會主席及行政總裁,自二零二三年四月十七日起生效。朱先生確認, 彼與董事會並無意見分歧,亦無任何有關本公司之事務須提請本公司股東垂註。

根據本公司之組織章程細則(「組織章程細則」),朱敏麗女士、陳策先生及江穎女士將於應屆股東週年大會上退任並合資格且願意於本公司應屆股東週年大會上重選董事。

董事服務合約

於二零二三年六月三十日,董事概無與本公司訂立本公司於一年內須支付賠償(法定賠償除外)方可終止之服務合約。

交易、安排及合約權益

於本財政年度結束時或本財政年度任何時間並無存續本公司任何附屬公司或本公司的最終控股公司或其任何附屬公司訂立之就本公司業務而言屬重大而本公司的董事或任何與本公司董事有關連之實體直接或間接於其中擁有重大權益之交易、安排或合約。

PURCHASE, SALE OR REDEMPTION OF THE COMPANY'S LISTED SECURITIES

During the year ended 30 June 2023, neither the Company nor any of its subsidiaries purchased, sold or redeemed any of the Company's listed securities.

EQUITY-LINKED AGREEMENT

Save for the Share Option Scheme adopted by the Company on 28 January 2015 and the subscription agreements entered into with 深圳萬星時代投資合夥企業(有限合夥) Shenzhen Wanxing Times Investment Partnership (Limited Partnership)* on 17 March 2023, the supplemental agreements with Jia Heng Tai Feng Co., Limited and Mr. Gan Xiaohua on 1 June 2021 and the second supplemental agreement with Mr. Gan Xiaohua on 1 July 2021, no equity-linked agreement was entered into by the Company during the financial year or subsisted at the end of the financial year.

ISSUE OF NEW SHARES

Subscription agreements dated 28 April 2021

As disclosed in the announcement of the Company dated 28 April 2021 and 6 May 2021 (collectively, the "Announcements"), the Company entered into the subscription agreements dated 28 April 2021 in relation to the subscription of an aggregate of 84,000,000 ordinary shares of HK\$0.25 per share by Jia Heng Tai Feng Co., Limited (the "Subscriber A") and Mr. Gan Xiaohua (the "Subscriber B") , which is to be the best knowledge information and belief of the Directors having made all reasonable enquiries, each of the subscribers and its ultimate beneficial owner(s) were independent third parties of the Company and its connected persons (as defined under Listing Rules) as at the date of the Announcements and up to 24 July 2022.

As disclosed in the announcement of the Company dated 1 June 2021, each of the Subscriber A and Subscriber B entered into supplemental agreements dated 1 June 2021 with the Company pursuant to which Subscriber A and Subscriber B and the Company agreed that the completion should take place on or before 30 June 2021.

購買、出售或贖回本公司上市證券

REPORT OF THE DIRECTORS

董事報告

本公司及其任何附屬公司於截至二零二三年六月三十日止年度概無購買、出售或贖回本公司之任何上市證券。

股票掛鈎協議

除本公司於二零一五年一月二十八日採納之購股權計劃、於二零二三年三月十七日與深圳萬星時代投資合夥企業(有限合夥)簽訂的認購協議、於二零二一年六月一日與嘉恒泰豐有限公司及甘曉華先生簽訂的補充協議及於二零二一年七月一日與甘曉華先生簽訂的第二份補充協議外,本公司於本財政年度並無訂立股票掛鈎協議,亦無於本財政年度結束時擁有仍然存續之股票掛鈎協議。

發行新股份

日期為二零二一年四月二十八日之認購協議

誠如本公司日期為二零二一年四月二十八日及二零二一年五月六日之公告(統稱「該等公告」) 所披露,本公司訂立日期為二零二一年四月二十八日之認購協議,內容有關嘉恒泰豐有限公司(「認購人A」)及甘曉華先生(「認購人B」) 以每股0.25港元認購合共84,000,000股普通股,經董事作出一切合理查詢後所深知、全悉及確信,於該等公告日期及截至二零二二年七月二十四日,各認購人及其最終實益擁有人為本公司及其關連人士(定義見上市規則)之獨立第三方。

誠如本公司日期為二零二一年六月一日之公告所披露,認購人A及認購人B各自與本公司訂立日期為二零二一年六月一日之補充協議,據此,認購人A、認購人B及本公司同意完成應於二零二一年六月三十日或之前落實。

* For identification only * 僅供識別

As disclosed in the announcement of the Company dated 28 July 2021, the Company and the Subscriber B entered into a second supplemental agreement dated 1 July 2021 pursuant to which both parties agreed to (i) reduce the number of subscription shares from 32,000,000 shares to 16,000,000 shares; and (ii) extend the long stop date to 31 July 2021.

The subscriptions by Subscriber A and Subscriber B were completed on 28 July 2021. The total subscription price of HK\$13,000,000 was paid by the Subscriber A in cash and HK\$4,000,000 by the Subscriber B in cash at the completion of the subscriptions. The aggregate nominal value of the subscription shares is HK\$680,000.

The fund raised by the subscriptions on the issue of shares was HK\$17,000,000 and the premium on the issue of shares amounted to approximately HK\$16,320,000 and credited to the Company share premium account. The subscription was completed on 28 July 2021 and the Company issued and allotted 68,000,000 shares on 28 July 2021.

The Directors consider that the subscriptions represents an opportunity to raise additional funding for the Group with general working capital to meet any future business including but not limited to the repayment of borrowings. The subscriptions will also strengthen the capital base and financial position for the Group's future business developments and broaden the shareholder base and capital base of the Company.

The Directors consider that the terms of the Subscription Agreements (including the subscription price) and the transactions contemplated thereunder are fair and reasonable and in the interests of the Company and the shareholders as a whole.

Subscription agreements dated 17 March 2023

As disclosed in the announcement of the Company dated 17 M a r c h 2 0 2 3 a n d 2 4 A p r i l 2 0 2 3 ( c o l l e c t i v e l y , t h e "Announcements"), the Company entered into the subscription agreements dated 17 March 2023 in relation to the subscription of an aggregate of 20,000,000 ordinary shares of HK\$0.15 per share by 深圳萬星時代投資合伙企業(有限合伙) Shenzhen Wanxing Times Investment Partnership (Limited Partnership)* (the "Subscriber"), which is to be the best knowledge information and belief of the Directors having made all reasonable enquiries, each of the subscribers and its ultimate beneficial owner(s) were independent third parties of the Company and its connected persons (as defined under Listing Rules) as at the date of the Announcements and up to 17 March 2023.

誠如本公司日期為二零二一年七月二十八日之公告所披露,本公司與認購人B訂立日期為二零二一年七月一日之第二份補充協議,據此, 雙方同意(i)將認購股份數目由32,000,000股減少至16,000,000股;及(ii)將截止日期延遲至二零二一年七月三十一日。

認購人A及認購人B的認購事項於二零二一年七月二十八日完成。於認購事項完成時,認購人A以現金支付總認購價13,000,000港元,而認購人B則以現金支付4,000,000港元。認購股份的總面值為680,000港元。

有關發行股份的認購事項所籌集的資金為 17,000,000港元, 而發行股份溢價為約 16,320,000港元及計入本公司股份溢價賬。認購事項於二零二一年七月二十八日完成,而本公司於二零二一年七月二十八日發行及配發 68,000,000股股份。

董事認為,認購事項為本集團籌集額外資金之機遇,用作一般營運資金以應付任何未來業務,包括但不限於償還借款。此外,認購事項將增強本集團未來業務發展之資本基礎及財務狀況,並擴闊本公司之股東基礎及資本基礎。

董事認為,認購協議之條款(包括認購價)及其項下擬進行之交易屬公平合理,且符合本公司及股東之整體利益。

日期為二零二三年三月十七日之認購協議

誠如本公司日期為二零二三年三月十七日及二零二三年四月二十四日之公告(統稱「該等公告」)所披露,本公司就深圳萬星時代投資合伙企業(有限合伙)(「認購人」)以每股0.15港元認購合共20,000,000股普通股訂立日期為二零二三年三月十七日之認購協議,據董事經作出一切合理查詢後所深知、全悉及確信,於該等公告日期及直至二零二三年三月十七日,認購人及其最終實益擁有人各自為本公司及關連人士(定義見上市規則)之獨立第三方。

The subscriptions by Subscriber was completed on 24 April 2023. The total subscription price of HK\$3,000,000 was paid by the Subscriber in cash at the completion of the subscription. The aggregate nominal value of the subscription shares is HK\$200,000. The fund raised by the subscriptions on the issue of shares was HK\$2,950,000 and the premium on the issue of shares amounted to approximately HK\$2,800,000 and credited to the Company share premium account. The subscription was completed on 24 April 2023 and the Company issued and allotted 20,000,000 shares on 24 April 2023.

Use of Proceeds

For the subscription agreements dated 28 April 2021, each of the gross proceeds and net proceeds from the issue of the shares is estimated to be HK\$17,000,000 and approximately HK\$16,955,000 respectively. The Company intends to use the net proceeds for general working capital of the Group and for the future development of the Group's business. The net price of each share is approximately HK\$0.25.

For the subscription agreements dated 17 March 2023, each of the gross proceeds and net proceeds from the issue of the shares is estimated to be HK\$3,000,000 and approximately HK\$2,950,000 respectively. The Company intends to use the net proceeds (i) for future business development, (ii) for repayment of borrowings and (iii) for general working capital of the Group. The net price of each share is approximately HK\$0.15.

認購人的認購事項於二零二三年四月二十四日完成。於認購事項完成時,認購人以現金支付總認購價3,000,000港元。認購股份的總面值為200,000港元。有關發行股份的認購事項所籌集的資金為2,950,000港元,而發行股份溢價為約2,800,000港元及計入本公司股份溢價賬。認購事項於二零二三年四月二十四日完成,而本公司於二零二三年四月二十四日發行及配發20,000,000股股份。

董事認為,認購協議之條款(包括認購價)及其項下擬進行之交易屬公平合理,且符合本公司及股東之整體利益。

所得款項用途

就日期為二零二一年四月二十八日的認購協議而言,估計發行股份之所得款項總額及所得款項淨額將分別為17,000,000港元及約 16,955,000港元。本公司擬將所得款項淨額用作本集團之一般營運資金及用於本集團業務之未來發展。每股股份之淨價約為0.25港元。

就日期為二零二三年三月十七日的認購協議而言,估計發行股份之所得款項總額及所得款項淨額分別為3,000,000港元及約2,950,000港元。本公司擬將所得款項淨額(i)用於未來業務發展,(ii)用於償還借貸及(iii)用作本集團之一般營運資金。每股股份之淨價約為0.15港元。

The table below gives out the details of the use of proceeds:

下表載列所得款項用途詳情:

			Allocation of advance payments received from share subscription	Amount Utilized	Remaining Balance of Net Proceeds
		Allocation of Net Proceeds	as at 30 June 2023 於二零二三年	as at 30 June 2023	as at 30 June 2023 於二零二三年
		所得款項淨額分配 HK\$'000 千港元	六月三十日股份認購所得墊付款項分配 HK\$'000 千港元	於二零二三年六月三十日已動用金額 HK\$'000 千港元	六月三十日所得款項淨額結餘 HK\$'000 千港元
Issue of 68,000,000 shares on 28 July 2021 Future business development, including but not limited to data centre and other potential	於二零二一年七月二十八日發行68,000,000股股份未來業務發展,包括但不限於數據中心及其他潛在業務發展
business development Repayment of borrowing General working capital of the	償還借款本集團之一般營運資金	10,000 6,000	10,000 6,000	10,000 6,000	0 0
Group		955	955	955	0
Issue of 20,000,000 shares on 24 April 2023 Repayment of the Group's	於二零二三年四月二十四日發行20,000,000股股份償還本集團之若干未償還
certain outstanding loans General working capital of the Group Operating expenses for new business including Million Stars Promotion	貸款本集團之一般營運資金萬星促銷機等新業務之營運開支	611 1,221	611 1,221	611 1,221	0 0
Machine		1,118	1,118	1,118	0

PERMITTED INDEMNITY PROVISION

獲准許的彌償條文

Pursuant to the Articles of Association, every Director shall be indemnified and secured harmless out of the assets of the Company from and against all actions, costs, charges, losses, damages and expenses which he/she shall or may incur or sustain by reason of any act done, concurred in or omitted in or about the execution of his/her duty or supposed duty in his/her office.

The Company has arranged appropriate liability insurance to cover the Directors and officers of the Group.

根據組織章程細則,每名董事就其將或可能因基於其職位履行其職務或假定職務時進行、同意或忽略的任何行為而產生或蒙受的所有訴訟、費用、收費、損失、損害及開支,均可自本公司的資產獲得彌償,確保免就此受損。

本公司已就本集團董事及行政人員安排合適的責任保險。

SHARE OPTION SCHEME

On 28 January 2015, the Company adopted the Share Option Scheme and the major terms of the Share Option Scheme were summarized as follows:

(a) Purpose of the Share Option Scheme

The Company adopted the Share Option Scheme on 28 January 2015 by shareholder's written resolution.

The purpose of the Share Option Scheme is to enable the Group to grant options to selected participants as incentives and rewards for their contribution to the Group. It became effective for a period of 10 years commencing on the date on which the Share Option Scheme was adopted.

(b) Participants of the Share Option Scheme

Pursuant to the Share Option Scheme, the Company may at its absolute discretion grant options to the following persons (the "Eligible Participants"):

(a) any employees (including any executive Directors) of the Group or any entity in which any member of the Group holds any equity interest (the "Invested Entity");
(b) any non-executive Directors (including independent nonexecutive Directors) of the Group or any Invested Entity;
(c) any supplier of goods or services to the Group or any Invested Entity;
(d) any customer of the Group or any Invested Entity;
(e) any person or entity that provides research, development or other technological support to the Group or any Invested Entity;
(f) any shareholder of the Group or any Invested Entity or any holder of any securities issued by the Group or any Invested Entity;
(g) any adviser (professional or otherwise) or consultant to any area of business or business development of the Group or any Invested Entity; and
(h) any other group or classes of participants who have contributed or may contribute by way of joint venture, business alliance or other business arrangement to the development and growth of the Group,

and, for the purposes of this Share Option Scheme, the offer may be made to any company wholly-owned by one or more Eligible Participants.

購股權計劃

於二零一五年一月二十八日,本公司採納購股權計劃及購股權計劃之主要條款概述如下:

(a) 購股權計劃之宗旨

本公司根據股東書面決議案於二零一五年一月二十八日採納購股權計劃。

購股權計劃旨在令本集團能向選定參與者授出購股權,作為彼等為本集團所作貢獻的獎賞及獎勵。其自購股權計劃獲採納當日起計10年期間有效。

(b) 購股權計劃參與者

根據購股權計劃,本公司可全權酌情決定向下列人士(「合資格參與者」)授出購股權:

(a) 本集團或本集團任何成員公司持有任何股權之任何實體(「接受投資實體」)之任何僱員(包括任何執行董事);
(b) 本集團或任何接受投資實體之任何非執行董事(包括獨立非執行董事);
(c) 本集團或任何接受投資實體之任何商品或服務供應商;
(d) 本集團或任何接受投資實體之任何客戶;
(e) 向本集團或任何接受投資實體提供研究、開發或其他技術支援之任何人員或實體;
(f) 本集團或任何接受投資實體之任何股東或本集團或任何接受投資實體所發行任何證券之任何持有人;
(g) 本集團或任何接受投資實體之任何業務領域或業務發展之任何專業或其他諮詢人或顧問;及
(h) 通過合營企業、商業聯盟或其他業務安排之方式,已經或可能對本集團之發展及增長作出貢獻之任何其他組別或類別之參與者,

及就本購股權計劃而言,可授予一名或以上合資格參與者全資擁有之任何公司。

SHARE OPTION SCHEME (continued)

(c) Total number of shares available for issue under the Share Option Scheme

The total number of shares may be granted under the Share Option Scheme is 40,000,000 shares, representing approximately 8.20% of the total issued shares of the Company as at the date of this annual report. The maximum number of shares of the Company which may be issued upon exercise of all outstanding options granted and yet to be exercised under the Share Option Scheme and any other schemes of the Company shall not exceed 30% of the total number of shares of the Company in issue from time to time.

(d) Maximum entitlement of each participant

The total number of shares issued and to be issued upon exercise of the options granted to each participant (including both exercised and outstanding options) in any 12-month period must not exceed 1% of the total number of shares of the Company in issue, unless approved by the shareholders of the Company in the manner as stipulated in the Share Option Scheme.

For any grant of options to a substantial shareholder of the Company or an independent non-executive Director or any of their respective close associates, the total number of shares issued and to be issued upon exercise of all options already granted and to be granted (including options exercised, cancelled and outstanding) to such person in the 12-month period up to and including the date of such grant must not:

(a) exceed 0.1% of the total number of shares of the Company in issue; and
(b) have an aggregate value, based on the closing price of the shares at the offer date of each offer, in excess of HK\$5 million;

unless such grant of options approved by the shareholders of the Company in a general meeting.

購股權計劃(續)

(c) 購股權計劃項下可予發行之股份總數

根據購股權計劃可能授出之股份總數為 40,000,000股,相當於本公司於本年報日期已發行股份總數之約8.20%。於購股權計劃及本公司之任何其他購股權計劃項下之全部已授出但尚未行使之購股權獲行使時可能發行之本公司最高股份數目不得超過本公司不時已發行股份總數之30%。

(d) 各參與者可認購之最高股份數目

於任何12個月期間向各參與者授出之購股權(包括已行使及尚未行使之購股權)獲行使時已發行及將予發行之股份總數不得超過本公司已發行股份總數之1%,惟根據購股權計劃所訂方式獲本公司股東批准者除外。

就向本公司主要股東或獨立非執行董事或彼等各自之任何緊密聯繫人授出之任何購股權而言,於截至有關授出日期(包括該日)止12個月期間內已經及將向有關人士授出之全部購股權(包括已行使、已註銷及尚未行使之購股權)獲行使時已發行及將予發行之股份總數:

(a) 不得超過本公司已發行股份總數之 0.1%;及
(b) 具有之總價值(按股份於每份要約之要約日期的收市價計算)不得超過 5,000,000港元;

惟有關授出購股權於股東大會上獲本公司股東批准則除外。

SHARE OPTION SCHEME (continued)

(e) Time of exercise of options

An option may be exercised in accordance with the terms of the Share Option Scheme at any time during a period to be determined and notified by the Directors to each grantee, which period may commence on the date on which the offer for the grant of options is made but shall end in any event not later than 10 years from the date of grant of the option subject to the provisions for early termination thereof. No minimum period for which the option must be held before it can be exercised is specified in the Share Option Scheme.

(f) The subscription price per share

The subscription price per share in respect of an option granted under the Share Option Scheme is such price as determined by the Board of the Company at the time of the grant of the options, but in any case the subscription price shall not be lower than the higher of:

• the closing price of the shares of the Company as stated in the daily quotation sheets issued by the Stock Exchange on the date on which the options are offered, which must be a business day;
• the price being the average closing price of the shares of the Company as stated in the daily quotation sheets issued by the Stock Exchange for the five business days immediately preceding the date of offer of the options; and
• the nominal value of a share of the Company on the date of offer.

(g) Payment on acceptance of option

A non-refundable sum of HK\$1.00 is required to be paid by each grantee upon acceptance of the granted option. An option may be accepted by a participant within 21 days from the date of offer for the grant of option.

購股權計劃(續)

(e) 購股權行使時限

購股權可根據購股權計劃之條款於董事將釐定及知會各承授人之期間內任何時間獲行使,該期間可自作出授出購股權之要約當日起計,惟無論如何須於購股權授出當日起計10年內終止,並受有關購股權提前終止的條文所規限。購股權計劃並無規定購股權可予行使前須持有的最短期限。

(f) 每股認購價

根據購股權計劃授出之購股權的每股認購價由本公司董事會於授出購股權時釐定, 惟認購價不得低於下列三者中之最高者:

於要約授出日期(必須為營業日)聯交所發出的每日報價表所列本公司股份的收市價;
緊接要約授出日期前五個營業日在聯交所每日報價表上所列之本公司股份平均收市價;及
本公司股份於要約授出日期的面值。

(g) 接納購股權時支付的金額

於接納獲授的購股權時,各承授人須支付 1.00港元的不可退回款。參與者可於授出購股權要約當日起計21日內接納購股權。

SHARE OPTION SCHEME (continued)

(h) Duration of the Share Option Scheme

The Share Option Scheme will remain in force for a period of 10 years from its adoption date (i.e. 28 January 2015). The Share Option Scheme will terminate or expire (as the case may be) on the earlier (i) the approval of the shareholders in a general meeting, and (ii) at the close of business on the day immediately preceding the tenth anniversary of the adoption date (Scheme Period).

No share option has been granted since the adoption of the Share Option Scheme and there are no outstanding share options at the end of the Year.

EMOLUMENT POLICY

The emolument policy of the employees of the Group is based on their merit, qualifications and competence. The Company has adopted the Share Option Scheme as an incentive to Directors and eligible employees, details of the Share Option Scheme is set out in note 32 to the consolidated financial statements.

The emoluments of the Directors are recommended and approved by the Remuneration Committee and the Board respectively, having regard to the Company's operating results, individual performance and comparable market statistics.

EMOLUMENTS OF DIRECTORS AND FIVE HIGHEST PAID INDIVIDUALS

Details of the emoluments of the Directors and the five highest paid individuals of the Group during FY2023 are set out in note 12 and note 11 to the consolidated financial statements respectively.

SHARE CAPITAL

Details of movements in the Company's share capital during the year are set out in note 28 to the consolidated financial statements.

PRE-EMPTIVE RIGHTS

There are no provisions for pre-emptive rights under the Articles of Association or the Laws of the Cayman Islands, being the jurisdiction in which the Company was incorporated, which would oblige the Company to offer new Shares on a pro rata basis to existing Shareholders.

購股權計劃(續)

(h) 購股權計劃的年期

購股權計劃自採納日期(即二零一五年一月二十八日)起10年期間內一直有效。購股權計劃將於發生以下情況時(以較早者為準)終止或屆滿(視情況而定):(i)股東於股東大會批准,及(ii)緊接採納日期十週年(計劃期間)前一日營業時間結束時。

自採納購股權計劃起,概無授出購股權,而於本年度末亦無尚未行使之購股權。

薪酬政策

本集團僱員的薪酬政策乃根據其績效、資格及能力而釐定。本公司採納購股權計劃作為對董事及合資格僱員的獎勵,購股權計劃詳情載於綜合財務報表附註32。

董事薪酬經考慮本公司經營業績、個別表現及可資比較之市場數據後,分別由薪酬委員會提供推薦意見並由董事會批准。

董事薪酬及五名最高薪酬僱員

本集團於二零二三財年內董事薪酬及五名最高薪酬僱員之詳情分別載於綜合財務報表附註12 及附註11。

股本

本公司於本年度內之股本變動詳情載於綜合財務報表附註28。

優先購買權

組織章程細則或開曼群島(為本公司註冊成立之司法權區)法律概無有關優先購買權之條文規定本公司須按比例向現有股東發售新股份。

SUFFICIENCY OF PUBLIC FLOAT

Based on the information that was publicly available to the Company and within the knowledge of its Directors, as at the date of this Annual Report, there was sufficient public float of not less than 25% of the Company's issued shares as required under the GEM Listing Rules.

DIRECTORS' AND CHIEF EXECUTIVE'S INTERESTS AND SHORT POSITIONS IN SHARES, UNDERLYING SHARES AND DEBENTURES

As at 30 June 2023, the interests and short positions of the Directors and chief executive in the shares, underlying shares and debentures of the Company or any of its associated corporations (within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) ("SFO")) which were notified to the Company and the Stock Exchange pursuant to Divisions 7 and 8 of Part XV of the SFO (including interests or short positions which they were taken or deemed to have under such provisions of the SFO), or which were recorded in the register required to be kept by the Company under Section 352 of the SFO, or which were, pursuant to Rules 5.46 to 5.67 of the GEM Listing Rules, required to be notified to the Company and the Stock Exchange, were as follows:

Interests in Shares of the Company

充足公眾持股量

根據本公司公開可得資料及就董事所知,於本年報日期,公眾持股量充足,不少於GEM上市規則規定之本公司已發行股份25%。

董事及主要行政人員於股份、相關股份及債券中的權益及淡倉

於二零二三年六月三十日,董事及主要行政人員於本公司或其任何相聯法團(定義見香港法例第571章證券及期貨條例(「證券及期貨條例」) 第XV部)的股份、相關股份及債券中,擁有須根據證券及期貨條例第XV部第7及8分部知會本公司及聯交所的權益及淡倉(包括彼等根據證券及期貨條例的該等條文被當作或視作擁有的權益或淡倉),或登記於本公司根據證券及期貨條例第352條須予存置之登記冊內的權益及淡倉,或根據GEM上市規則第5.46至5.67條須知會本公司及聯交所的權益及淡倉如下:

於本公司股份的權益

Name of Director 董事姓名	Capacity 身份	Interests in Shares 於股份之權益	Approximate Percentage of Issued Share Capital of the Company as at 30 June 2023 佔本公司於二零二三年六月三十日之已發行股本的概約百分比

Mr. Zhu Yongjun 朱勇軍先生	Beneficial Owner 實益擁有人 Beneficial owner 實益擁有人	38,398,786 (L)	7.56%
Mr. Gan Xiaohua 甘曉華先生		8,005,000 (L)	1.58%
Notes:		附註:
As at 30 June 2023, the Company had 508,000,000 Shares in issue.		於二零二三年六月三十日,本公司有508,000,000股已發行股份。
Abbreviation: "L" stands for long position.		縮寫:「L」為好倉。

INTERESTS AND SHORT POSITIONS OF SUBSTANTIAL SHAREHOLDERS AND OTHER PERSONS

As at 30 June 2023, so far as is known to the Directors of the Company, persons (other than the Directors or chief executive of the Company) who had interests or short positions in the Shares or underlying Shares of the Company which would fall to be disclosed to the Company and the Stock Exchange under the provisions of Divisions 2 and 3 of Part XV of the SFO, or which were recorded in the register required to be kept by the Company under Section 336 of the SFO were as follows:

主要股東及其他人士的權益及淡倉

於二零二三年六月三十日,就本公司董事所知,除本公司董事或主要行政人員外,下列人士於本公司股份或相關股份中擁有根據證券及期貨條例第XV部第2及3分部之條文須向本公司及聯交所披露或登記於本公司根據證券及期貨條例第336條須予存置之登記冊內的權益或淡倉:

Name of Shareholders	Capacity	Interests in Shares	Approximate Percentage of Issued Share Capital of the Company as at 30 June 2023 佔本公司於二零二三年六月三十日之已發行股本的	Note
股東名稱	身份	於股份之權益	概約百分比	附註
Jiang Peijie 蔣培潔	Beneficial Owner 實益擁有人	29,150,000 (L)	5.74%
7Road Holding Limited 第七大道控股有限公司	Beneficial owner 實益擁有人	54,000,000 (L)	10.63%
United Conquer Limited ("UCL") United Conquer Limited(「UCL」)	Interest of controlled corporation 受控法團權益	22,497,169 (L)	4.43%
Shanghai Hutong Investments Centre (Limited Partnership)* ("SHIC")	Beneficial owner 實益擁有人	50,000,000 (L)	9.84%
上海胡桐投資中心(有限合夥) (「上海胡桐」)	Interest of controlled corporation 受控法團權益	22,497,169 (L)	4.43%	2
BOC-HFT-BOC-Overseas No.1 QDII Segregated Account ("BOC Account")	Investment manager	50,000,000 (L)	9.84%	3
海富通 — 中國銀行海外1號QDII 資產管理計劃(「中銀管理計劃」)	投資經理
Shanghai Angell Asset Management Company Limited* ("Shanghai Angell")	Interest of controlled corporation	72,497,169 (L)	14.27%	4
上海昂巨資產管理有限公司 (「上海昂巨」)	受控法團權益
Jilin Province Investment Group* 吉林省投資集團	Interest of controlled corporation 受控法團權益	72,497,169 (L)	14.27%	5
Yao Ligang 姚立剛	Interest of controlled corporation 受控法團權益	72,497,169 (L)	14.27%	6

* For identification purpose only * 僅供識別

INTERESTS AND SHORT POSITIONS OF SUBSTANTIAL SHAREHOLDERS AND OTHER PERSONS (continued)

主要股東及其他人士的權益及淡倉(續)

	Name of Shareholders	Capacity		Interests in Shares	Approximate Percentage of Issued Share Capital of the Company as at 30 June 2023 佔本公司於二零二三年六月三十日之已發行股本的	Note
	股東名稱	身份		於股份之權益	概約百分比	附註
王菲	Wang Fei	Beneficial owner 實益擁有人		40,000,000 (L)	7.87%
	Jia Heng Tai Feng Co., Limited	Beneficial owner		52,000,000 (L)	10.24%
	嘉恒泰豐有限公司 Wu Zhongyi	實益擁有人 Interest of controlled corporation		52,000,000 (L)	10.24%	7
鄔中一	Li Wei Wei 李威威	受控法團權益 Security interest 保證權益		52,000,000 (L)	10.24%	8
Notes:			附註:
1.	As at 30 June 2023, the Company had 508,000,000 Shares in issue.		1.	於二零二三年六月三十日,本公司有508,000,000股已發行股份。
2.	SHIC's deemed shareholdings stated above were held by virtue of its 100% shareholding interests in UCL.		2.	上述上海胡桐之視為股權乃透過其於UCL之100%股權持有。
3.	BOC Account's deemed shareholdings stated above were held as a trustee of a discretionary trust of which SHIC was the founder.		3.	上述中銀管理計劃之視為股權乃持作全權信託受託人,而上海胡桐為該全權信託創始人。
4.	Shanghai Angell's deemed shareholdings stated above were held by virtue of its 1.25% capital commitment in SHIC's contribution through general partnership.		4.	上述上海昂巨之視為股權乃根據其透過普通合夥關係於上海胡桐供款之1.25%資本承擔持有。
5.	Jilin Province Investment Group's deemed shareholdings stated above were held by virtue of its 37.03% capital commitment in SHIC's contribution through limited partnership.		5.	上述吉林省投資集團之視為股權乃根據其透過有限合夥關係於上海胡桐供款之37.03%資本承擔持有。
6.	Yao Ligang's deemed shareholdings stated above were held by virtue of its 43.20% capital commitment in SHIC's contribution through limited partnership.		6.	上述姚立剛之視為股權乃根據其透過有限合夥關係於上海胡桐供款之43.20%資本承擔持有。
7.	Mr. Wu Zhongyi provided an interest in the Shares as security to a person other than a qualified lender on 13 May 2022.		7.	鄔中一先生於二零二二年五月十三日向合資格貸款人以外的人士提供股份權益作為抵押品。
8.	Mr. Li Wei Wei acquired a security interest in the Shares on 13 May 2022.		8.	李威威先生於二零二二年五月十三日收購股份的抵押權益。
	Abbreviation: "L" stands for long position			縮寫:「L」為好倉

DIRECTORS' RIGHTS TO ACQUIRE SHARES OR DEBENTURES

Save as disclosed in the sections headed "Share Option Scheme" and "Directors' and Chief Executive's Interests and Short Positions in Shares, Underlying Shares and Debentures" above, at no time during the year was the Company, any of its holdings companies, subsidiaries or fellow subsidiaries a party to any arrangements to enable the Directors or the chief executives of the Company or any of their respective spouses or children under 18 years of age to acquire benefits by means of the acquisition of shares in, or debentures of, the Company or any other body corporate.

DIRECTORS' AND CONTROLLING SHAREHOLDERS' INTEREST IN COMPETING BUSINESS

For FY2023, the Directors are not aware of any business or interest of the Directors, the controlling Shareholders and their respective associates (as defined under the GEM Listing Rules) that compete or may compete with the business of the Group and any other conflicts of interests which any such person has or may have with the Group.

AUDITORS

Yongtuo Fuson CPA Limited ("Yongtuo") was re-appointed as auditor of the Company at the annual general meeting of the Company on 11 December 2020. Yongtuo has resigned as auditor of the Company with effect from 1 November 2021. The Board confirmed that there was no disagreement between Yongtuo and the Company. On 8 December 2021, the Board resolved to appoint CCTH CPA Limited as the new auditor of the Company to fill the casual vacancy following the resignation of Yongtuo.

董事購買股份或債券的權利

除上文「購股權計劃」一節及「董事及主要行政人員於股份、相關股份及債券中的權益及淡倉」章節所披露者外,本公司、任何其控股公司、附屬公司或同系附屬公司於年內任何時候概無訂立任何安排以使本公司董事或主要行政人員或任何彼等各自配偶或18歲以下未成年子女透過購買本公司或任何其他法團股份或債券而獲益。

董事及控股股東於競爭業務之權益

於二零二三財年,董事並無知悉任何董事、控股股東及彼等各自之聯繫人(定義見GEM上市規則)擁有與本集團業務構成競爭或可能構成競爭之業務或於其中擁有任何權益,亦不知悉任何有關人士與或可能與本集團存在任何其他利益衝突。

核數師

永拓於二零二零年十二月十一日於本公司股東週年大會上重新獲委任為本公司核數師。永拓已辭任本公司核數師,自二零二一年十一月一日起生效。董事會確認永拓與本公司並無意見分歧。於二零二一年十二月八日,董事會決議委任中正天恆會計師有限公司為本公司新核數師,以填補永拓辭任後的臨時空缺。

AUDITORS (continued)

CCTH CPA Limited ("CCTH CPA") resigned as auditors of the Company on 15 August 2023. Prism Hong Kong and Shanghai Limited ("Prism") was appointed as auditors of the Company by the Directors on 15 August 2023 to fill in the vacancy following the resignation of CCTH CPA. The Board confirmed that there was no disagreement between CCTH CPA and the Company. Prism was re-appointed as auditor of the Company at the forthcoming annual general meeting of the Company in 2023.

Save as disclosed above, there were no other changes in auditors of the Company during the past three years.

The consolidated financial statements for FY2023 have been audited by Prism.

On behalf of the Board

核數師(續)

中正天恆會計師有限公司(「中正天恆」)於二零二三年八月十五日辭任本公司核數師。上會栢誠會計師事務所有限公司(「上會栢誠」)於二零二三年八月十五日獲董事委任為本公司核數師,以填補中正天恆辭任後的臨時空缺。董事會確認中正天恆與本公司並無意見分歧。上會栢誠於二零二三年於本公司應屆股東週年大會上重新獲委任為本公司核數師。

除上文所披露者外,於過去三年,本公司核數師並無其他變動。

二零二三財年之綜合財務報表已由上會栢誠。

代表董事會

Gan Xiaohua Tian Yuan Co-chairman

Hong Kong 29 September 2023 甘曉華田園 聯席主席

香港二零二三年九月二十九日

CORPORATE GOVERNANCE PRACTICES

The Group's corporate governance framework is based on two main beliefs:

• the Group recognises to maintain good corporate governance practices and procedures; and
• the Group recognises the need to adopt practices that improve itself continuously for a quality management.

The Company has adopted the code provisions on Corporate Governance Code in force during the year ended 30 June 2023 as set out in Appendix 15 to the GEM Listing Rules.

During the year ended 30 June 2023, the Group was in compliance with the Corporate Governance Code as set out in Appendix 15 to the GEM Listing Rules, except the deviations disclosed below:

企業管治常規

本集團的企業管治框架乃基於兩條主要信念:

本集團致力於維持良好的企業管治常規及程序;及
本集團認識到需要採納不斷改善其自身發展的常規,以確保管理層具備資格。

本公司已採納GEM上市規則附錄十五所載於截至二零二三年六月三十日止年度內有效之企業管治守則的守則條文。

於截至二零二三年六月三十日止年度,本集團一直遵守GEM上市規則附錄十五所載之企業管治守則,惟下文披露之偏離情況除外:

電子方式通訊與獨立非執行董事

溝通。

	Code Provision 守則條文	Deviation 偏離情況	for Deviation 就偏離情況已闡明之原因
C.2.1	The roles of chairman and chief executive officer should be separated and should not be performed by the same individual. 主席及行政總裁之角色應有所區分,不應由同一人士擔任。	Mr. Zhu Yongjun resigned as the chairman and Chief Executive officer of the Company with effect on 17 April 2023 and Mr. Gan Xiaohua ("Mr. Gan") and Ms. Tian Yuan ("Ms. Tian"), each an executive Director of the Company, has been appointed as the co-chairman of the Board with effect from 17 April 2023. 朱勇軍先生辭任本公司主席兼行政總裁,自二零二三年四月十七日起生效。甘曉華先生(「甘先生」)及田園女士(「田女士」)(各自為本公司執行董事)已獲委任為董事會聯席主席,自二零二三年四月十七日起生效。	The Board believes that the present arrangement enables the Company to make and implement decisions promptly, and thus achieve the Company's objectives efficiently and effectively in response to the changing environment. The Board will continue to review and consider splitting the roles of the chairperson and the chief executive officer at a time when it is appropriate and suitable by taking into account the circumstance of the Group as a whole. 董事會相信現有安排令本公司能及時作出及執行決策,因而高效及有效地實現本公司目標,以應對多變之環境。董事會將考慮本集團的整體情況,於適當及合適時繼續檢討及考慮分開本公司主席與行政總裁的職務。
C.2.7	The chairman should at least annually hold meetings with the independent non-executive directors without the presence of other directors. 主席應最少每年與獨立非執	Due to the travelling restriction imposed by government in China, the chairman did not hold physical meeting with the independent non executive Directors without the presence of other directors.	The chairman communicated with independent non-executive Director by way of electronic means communication such as Voov Meeting or Zoom Meeting. 主席透過Voov會議或Zoom會議等

主席應最少每年與獨立非執行董事舉行一次沒有其他董事出席的會議。

因政府實施的出行限制,主席並無與獨立非執行董事舉行沒有其他董事出席的現場會議。

Code Provision Deviation

D.1.2 Management should provide all members of the Board with monthly updates giving a balanced and understandable assessment of the Company's performance, position and prospects in sufficient detail to enable the Board as a whole and each Director to discharge their duties under Rule 5.01 and Chapter 17 of the GEM Listing Rules.

管理層應每月向董事會全體成員提供更新資料,載列有關本公司的表現、狀況及前景的公正及易於理解的評估, 內容足以讓整個董事會及各董事履行GEM上市規則第5.01 條及第十七章所規定的職責。

D.2.1 The Board should oversee the issuer's risk management and internal control systems on an ongoing basis, ensure that a review of the effectiveness of the issuer's and its subsidiaries' risk management and internal control systems has been conducted at least annually and report to shareholders that it has done so in its Corporate Governance Report. The review should cover all material controls, including financial, operational and compliance controls.

董事會應持續監管發行人的風險管理及內部監控系統, 確保至少每年檢討一次發行人及其附屬公司的風險管理及內部監控系統的有效性, 並在其企業管治報告中向股東匯報已完成有關檢討。該檢討應涵蓋所有重大控制, 包括財務、營運及合規監控。

The management failed to provide the Directors with updated financial information of the Company each month.

管理層無法每月向董事提供本公司的更新財務資料。

During the period, the Company still have some deficiencies in risk management and internal control issues within the Group.

於期內,本公司於本集團內的風險管理及內部監控問題仍存在若干缺陷。

Considered Reason for Deviation 守則條文偏離情況就偏離情況已闡明之原因

The Board members of the Company were still informed by the management of the Company by email, by WeChat or by phone on the updated information of the Company's performance and future business plan from time to time.

本公司董事會成員仍由本公司管理層不時經電郵、微信或電話告知有關本公司的表現及未來業務計劃的最新資訊。

The Company had engaged external consultants to review its certain existing internal control measures on the areas agreed by the Board of Directors and provide suggestions to improve the internal control systems and risk management systems of the Group.

The management has taken necessary follow up steps to improve the risk management and internal control systems as recommended by the external consultant.

本公司已委聘外部顧問,以對董事會協定的領域檢討其若干現有內部監控措施及提供改善本集團內部監控系統及風險管理系統的建議。

管理層已按外部顧問建議採取必要跟進措施改進風險管理及內部監控系統。

COMPLIANCE WITH CODE OF CONDUCT FOR DIRECTORS' SECURITIES TRANSACTIONS

The Company has adopted a code of conduct regarding securities transactions by Directors ("Securities Code") on terms no less exacting than the required standard of dealings set out in Rules 5.48 to 5.67 of the GEM Listing Rules.

Each of the Directors gave confirmation that he/she was in compliance with the Securities Code during the year ended 30 June 2023.

BOARD OF DIRECTORS

Key features of our Board

Independence

The Company emphasises on independence and objectivity of the Board and all committees. With the services of three executive Directors and three INEDs, the Board would have a prudential oversight on the Company's businesses and developments.

Commitment

The Company attaches great importance to the level of Directors' commitment to the Company and the Board. The Directors have devoted sufficient time to the Company and closely monitored the Company's businesses.

遵守董事進行證券交易之行為守則

本公司已採納一套有關董事進行證券交易之行為守則(「證券守則」),其條款之嚴格程度不遜於GEM上市規則第5.48至5.67條所載之規定交易標準。

各董事均已確認,其於截至二零二三年六月三十日止年度內一直遵守證券守則。

董事會

董事會的關鍵特徵

獨立性

本公司重視董事會及所有下屬委員會的獨立性及客觀性。三名執行董事及三名獨立非執行董事服務於董事會,審慎監督本公司的業務及發展。

承擔

本公司非常重視董事對本公司及董事會的承擔程度。各董事已投放充足時間於本公司及密切監察本公司的業務。

BOARD OF DIRECTORS (continued)

Attendance at Meetings

The following table shows Directors' attendance at Board's meetings, committees' meetings and general meetings held in the financial year ended 30 June 2023:

董事會(續)

出席會議

下表顯示各董事於截至二零二三年六月三十日止財政年度內舉行之董事會會議、下屬委員會會議及股東大會之出席情況:

	Meetings Attended/Held 出席╱舉行會議
	BOARD 董事會 (Total: 7) (總計:7次)	REMUNERATION COMMITTEE 薪酬委員會 (Total: 1) (總計:1次)	AUDIT COMMITTEE 審核委員會 (Total: 7) (總計:7次)	NOMINATION COMMITTEE 提名委員會 (Total: 1) (總計:1次)	CORPORATE GOVERNANCE COMMITTEE 企業管治委員會 (Total: 1) (總計:1次)	GENERAL MEETING 股東大會 (Total: 1) (總計:1次)
Executive Directors
執行董事
Mr. ZHU Yongjun	7	N/A	N/A	N/A	N/A	1
朱勇軍先生		不適用	不適用	不適用	不適用
Ms. TIAN Yuan	7	N/A	N/A	N/A	N/A	1
田園女士		不適用	不適用	不適用	不適用
Mr. GAN Xiaohua (appointed on 25 July 2022)	7	N/A	N/A	N/A	N/A	1
甘曉華先生(於二零二二年七月二十五日獲委任)		不適用	不適用	不適用	不適用
Independent Non-executive Directors
獨立非執行董事
Mr. CHEN Ce 陳策先生	7	1	7	1	1	1
Ms. ZHU Minli 朱敏麗女士	7	1	7	1	1	1
Ms. JIANG Ying	7	1	7	1	1	1
江穎女士

Certain matters relating to Audit Committee, Nomination Committee, Corporate Governance Committee were dealt with the Board Committee by way of committee resolutions instead of physical meetings.

董事委員會以委員會決議案方式取代現場會議,處理有關審核委員會、提名委員會及企業管治委員會的若干事宜。

BOARD OF DIRECTORS (continued)

Board Composition

As at the date of this Annual Report, the Board comprises three executive Directors and three INEDs as named below. An updated list of the Directors identifying their roles and functions is posted on GEM's website and the Company's website from time to time.

Executive Directors:

Mr. ZHU Yongjun Mr. GAN Xiaohua (appointed on 25 July 2022) Ms. TIAN Yuan

Independent Non-Executive Directors:

Mr. CHEN Ce Ms. ZHU Minli Ms. JIANG Ying

The biographical details of the Directors are set out in the "Biographical Details of Directors and Senior Management" section of this Annual Report.

In compliance with Rules 5.05(1) and (2) of the GEM Listing Rules, Mr. Chen Ce and Ms. Zhu Minli have appropriate professional qualifications or accounting or related financial management expertise.

Each Director has sufficient experience to hold the position so as to carry out his/her duties effectively and efficiently. The Board provides the Group with diversified industry expertise, advised the management on strategic development and the Board maintains high standard of compliance with financial and other mandatory reporting requirements as well as providing adequate checks and balances to safeguard the interests of Shareholders and the Company as a whole.

董事會(續)

董事會的組成

於本年報日期,董事會由三名執行董事及三名獨立非執行董事組成,彼等之姓名如下。確認彼等之職位及職能之經更新董事名單不時刊載於GEM網站及本公司網站。

執行董事:

朱勇軍先生甘曉華先生(於二零二二年七月二十五日獲委任) 田園女士

獨立非執行董事:

陳策先生朱敏麗女士江穎女士

董事的履歷詳情載列於本年報「董事及高級管理人員簡歷」一節。

根據GEM上市規則第5.05(1)條及(2)條,陳策先生及朱敏麗女士具備合適專業資格或會計或相關財務管理專長。

各董事均有足夠經驗勝任,務求有效地及有效率地履行彼等之職務。董事會具有多元化之業務專長,向管理層就策略性發展提供意見,且董事會在遵守財務及其他強制性申報規定方面維持高標準,以及採取適當制衡措施以維護股東及本公司之整體利益。

BOARD OF DIRECTORS (continued)

Mechanism regarding independent views and inputs to the Board

The Company has established mechanisms to ensure independent views and input are available to the Board. The Board reviews the implementation and effectiveness of such mechanism(s) on an annual basis. The Board considers that such mechanism has been implemented properly and effectively.

A summary of the mechanisms is set out below:

i. Composition

The Board ensures the appointment of at least three independent non-executive Directors and at least one-third of its members being independent non-executive Directors (or such higher threshold as may be required by the Listing Rules from time to time), with at least one independent nonexecutive Director possessing appropriate professional qualifications, or accounting or related financial management expertise. Further, independent non-executive Directors will be appointed to Board Committees as required under the Listing Rules and as far as practicable to ensure independent views are available.

ii. Independence Assessment

The Nomination Committee strictly adheres to the Nomination Policy with regard to the nomination and appointment of independent non-executive Directors, and is mandated to assess annually the independence of independent non-executive Directors to ensure that they can continually exercise independent judgement.

董事會(續)

向董事會提供獨立意見及觀點之機制

董事會已建立機制以確保董事會獲得獨立意見及觀點。董事會每年檢討有關機制的實施情況及成效。董事會認為有關機制已妥為有效實施。

機制概要載列如下:

i. 組成

董事會確保委任至少三名獨立非執行董事及當中至少三分之一成員為獨立非執行董事(或上市規則不時規定的更高人數下限),而至少一名獨立非執行董事具備適當專業資格,或會計或有關財務管理之專業知識。本公司亦會按上市規則之規定於可行情況下委任獨立非執行董事加入董事委員會,以確保獲得獨立意見。

ii. 獨立性評估

提名委員會於提名及委任獨立非執行董事時會嚴格遵守提名政策,並獲授權每年評估獨立非執行董事之獨立性,確保彼等能持續作出獨立判斷。

BOARD OF DIRECTORS (continued)

Mechanism regarding independent views and inputs to the Board (continued)

iii. Compensation

No equity-based remuneration with performance-related elements will be granted to independent non-executive Directors as this may lead to bias in their decision-making and compromise their objectivity and independence.

iv. Board Decision Making

Directors (including independent non-executive Directors) are entitled to seek further information from the management on the matters to be discussed at Board meetings and, where necessary, independent advice from external professional advisers at the Company's expense.

A Director (including independent non-executive Director) who has a material interest in a contract, transaction or arrangement shall not vote or be counted in the quorum on any Board resolution approving the same.

v. Board Evaluation

The quality and efficiency of discussions at Board meetings are assessed by the Chairman.

董事會(續)

向董事會提供獨立意見及觀點之機制(續)

iii. 酬金

獨立非執行董事並無獲給予帶有績效表現相關元素的股本權益薪酬,因為此類薪酬或會導致其決策偏頗並影響其客觀性及獨立性。

iv. 董事會決策

董事(包括獨立非執行董事)有權就董事會會議上討論事項向管理層尋求進一步資料,及如有需要,可向外部專業顧問尋求獨立意見,費用概由本公司承擔。

董事(包括獨立非執行董事)於合約、交易或安排中擁有重大利益,則不得就批准該合約、交易或安排之任何董事會決議案投票或計入該會議的法定人數。

v. 董事會評估

董事會會議討論的質量及效率由主席評估。

BOARD OF DIRECTORS (continued)

Board Diversity

In compliance with the requirement set out in Code Provision B.1.3 of the CG Code, the Company has put in place a Board diversity policy (the "Board Diversity Policy") which sets out its approach to achieve diversity on the Board, and a sustainable and balanced development of the Company.

Measurable Objectives

The Company seeks to achieve Board diversity through the consideration of a number of factors, including but not limited to gender, age, cultural and educational background, professional experience, skills, knowledge and length of service. The Company will also take into account factors based on its own business model and specific needs from time to time. The ultimate decision will be based on merit and contribution that the selected candidates will bring to the Board. The Nomination Committee will from time to time discuss and agree on the measurable objective for achieving diversity of the Board. For the purpose of implementation of the Board Diversity Policy, the following measurable objectives:

1. at least one third of the Directors shall be independent nonexecutive Directors;
1. at least one Director is female; and
1. at least one Director shall have obtained accounting or other professional qualifications.

During the year ended 30 June 2023, all the measurable objectives have been fulfilled.

董事會(續)

董事會多元化

為符合企業管治守則守則條文第B.1.3條所載規定,本公司已實施董事會多元化政策(「董事會多元化政策」),其中載列達致董事會多元化及使本公司得以可持續及平衡發展的方式。

可計量目標

本公司為達致董事會多元化而考慮多個因素, 其包括但不限於性別、年齡、文化及學術背景、專業經驗、技能、知識及服務年期。本公司亦將不時根據其自身業務模式及具體需要考慮相關因素。最後決定將基於候選人將為董事會帶來的優勢及作出的貢獻而定。提名委員會將不時討論及協定可計量目標以實現董事會多元化。就實施董事會多元化政策而言,有以下可計量目標:

1. 至少三分之一董事須為獨立非執行董事;
1. 至少一名董事為女性;及
1. 至少一名董事須已獲得會計或其他專業資格。

於截至二零二三年六月三十日止年度,所有可計量目標已獲達成。

BOARD OF DIRECTORS (continued)

董事會(續)

會多元化分析載列如下:

進展

Progress

The Board and the Nomination Committee believe that the diversity of the Board is sufficient given that there are Directors from different industries and with different experience, skills and knowledge. As at 30 June 2023, the analysis of the Board diversity is set out as follows:

Board Diversity Statistics 董事會多元化統計

Each of the Board members possessed different skills and knowledge, including development strategy and marketing management, financial management, administration and business management, investment development management, etc. The Board is characterized by significant diversity in terms of gender, age, designation, length of service, skills and knowledge. The Board reviewed the implementation and effectiveness of the board diversity policy of the Company on an annual basis.

董事會各成員擁有不同的技能及知識,包括發展策略及營銷管理、財務管理、行政及業務管理、投資發展管理等。性別、年齡、職務、服務年期、技能及知識等方面高度多元化是董事會的一大特點。董事會每年檢討本公司董事會多元化政策的落實情況及成效。

董事會及提名委員會認為,鑒於董事來自不同行業及具備不同經驗、技能及知識,故董事會充分多元化。於二零二三年六月三十日,董事

BOARD OF DIRECTORS (continued)

Chairman and the Chief Executive Officer

The roles of Chairman and CEO should be separated to reinforce independence accountability and responsibility. Mr. Zhu Yongjun is the Chairman of the Company who is responsible for enabling effective operation of the Board. Ms. Wang Fei was the CEO of the Company who was responsible for the day-to-day management of the Group's business until her resignation on 5 September 2020.

Mr. Zhu Yongjun has been appointed as the CEO of the Company with effect from 11 November 2020.

Mr. Gan Xiaohua and Ms. Tian Yuan, each an executive Director of the Company, has been appointed as the co-chairman of the Board with effect from 17 April 2023. Following the appointment of Mr. Gan and Ms. Tian, Mr. Zhu has ceased to be the Chairman and CEO of the Company with effect from 17 April 2023.

Since 17 April 2023, the position of chairman was held by Mr. Gan Xiaohua and Ms. Tian Yuan and the Company does not have any officer with the title "chief executive officer".

Role and Function of the Board and the Management

The Company has set out the respective functions and responsibilities which can be reserved to the Board and delegated to management or Board committees. The Board delegates dayto-day operations of the Group to management while reserving certain key matters, mainly relating to the approval and monitoring of the Group's overall strategies, policies and business plans; and overseeing and evaluating the performance of the Group. It is also responsible for promoting the success of the Group and its businesses by directing and supervising the Group's affairs. Board committees for specific functions are also set up to ensure efficient Board operations. The composition and functions of each Board committee and their major roles and functions are described below. The final decision still rests with the Board unless otherwise provided for in the terms of reference of the relevant committees.

董事會(續)

主席及行政總裁

主席及行政總裁之角色應區分,以鞏固獨立性、問責及責任。朱勇軍先生為本公司主席, 負責使董事會得以有效運作,王菲女士為本公司行政總裁,負責本集團業務之日常管理,直至彼於二零二零年九月五日辭任為止。

朱勇軍先生獲委任為本公司的行政總裁,自二零二零年十一月十一日起生效。

甘曉華先生及田園女士(均為本公司執行董事) 已獲委任為董事會聯席主席,自二零二三年四月十七日起生效。於甘先生及田女士獲委任後,朱先生不再為本公司主席兼行政總裁,自二零二三年四月十七日起生效。

自二零二三年四月十七日起,主席職務由甘曉華先生及田園女士共同擔任,而本公司並無任何高級職員擁有「行政總裁」的職銜。

董事會及管理層之角色及職能

本公司已訂明董事會本身及其授予管理層或董事委員會的職務及職責。董事會將本集團的日常運作交由管理層處理,但保留處理若干重大事宜(主要有關批准及監察本集團整體策略、政策及業務計劃;以及監管及評估本集團表現)的權利。董事會亦負責指導及監督本集團的事務,以推進本集團及其業務的成功運作。本公司亦制定董事委員會的具體職務,以確保董事會的高效運作。各董事委員會的組成及職能及其主要角色及職能詳述如下。除非有關委員會之職權範圍另有指明,否則董事會仍擁有最終決定權。

CONFIRMATION OF INDEPENDENCE

The Company has received annual confirmations of independence from each of the INEDs in accordance with Rule 5.09 of the GEM Listing Rules. The Company considers that all the INEDs remain independent.

APPOINTMENT AND RE-ELECTION OF DIRECTORS

Each of the executive Directors has entered into an executive Director's service agreement with the Company and each of the INEDs has entered into a letter of appointment with specific terms with the Company with an initial term of three years, subject to renewal by the Company. All Directors are subject to retirement by rotation and are eligible for re-election at the general meeting in accordance with the Articles of Association.

Pursuant to the Articles of Association, at each annual general meeting, one-third of the Directors for the time being (or, if their number is not three (3) or a multiple of three (3), then the number nearest to but not less than one-third) shall retire from office by rotation, provided that every Director (including those appointed for a specific term) shall be subject to retirement by rotation at least once every three years. Any Director appointed by the Board to fill a casual vacancy or as an additional Director shall hold office only until the next following annual general meeting of the Company and shall then be eligible for re-election at the meeting but shall not be taken into account in determining the Directors or the number of Directors who are to retire by rotation at such meeting.

Every Director, including non-executive Directors and INEDs, was appointed for a term of three years and would be subject to retirement by rotation and re-election at least once every three years at the annual general meeting of the Company. Their appointments would be reviewed by Nomination Committee when they were due for re-election.

獨立性確認

本公司已接獲各獨立非執行董事根據GEM上市規則第5.09條作出之年度獨立性確認。本公司認為其全體獨立非執行董事均屬獨立人士。

董事委任及重選

各執行董事已與本公司訂立執行董事服務協議,且各獨立非執行董事已與本公司訂立有指定任期之委任函,初步任期為三年,惟可由本公司續期。所有董事均須根據組織章程細則於股東大會輪席退任及合資格膺選連任。

根據組織章程細則,在每屆股東週年大會上, 當時佔三分之一人數之董事(或,倘其人數並非三(3)或三(3)之倍數,則最接近但不少於三分之一之數目)須輪席退任,惟每位董事(包括有指定任期之董事)必須至少每三年輪席退任一次。任何獲董事會委任以填補臨時空缺之董事或增聘董事之任期將直至本公司下屆股東週年大會止,並符合資格於大會上重選連任,惟於釐定該大會上輪席退任之董事或董事數目時不得計算在內。

每名董事(包括非執行董事及獨立非執行董事) 均獲委任三年任期,及將於本公司股東週年大會上輪席退任及重選連任,至少每三年一次。彼等之委任將於重選時由提名委員會檢討。

BOARD MEETINGS

The Group adopted the practice of holding Board meetings that includes both executive Directors and INEDs presented in person or through electronic means of communication regularly at least four times every year. During regular meetings of the Board, the Directors discussed and formulated the overall strategies of the Group, monitored financial performances and reviewed the financial results, as well as discussed and decided on other significant matters. The Board will also meet on other occasions when a board-level decision on a particular matter is required.

Generally, notice of at least fourteen days should be given for a Company's regular Board meeting. For all other Board meetings, reasonable notice should be given. The Directors will receive the agenda and accompanying documents tabled at the meeting before regular Board meetings and will be given an opportunity to include matters in the agenda for discussion.

In order to ensure that Board procedures, applicable rules and code provisions are followed, all Directors are able to access the company secretary of the Company for advice. Upon reasonable request, the Directors will be able to seek independent professional advice in appropriate circumstances at the Company's expense.

The company secretary of the Company assists the Chairman of the Board in preparing the agenda for each meeting. Minutes of such meetings are kept by the company secretary of the Company or other duly authorised person during the meeting which included all decisions made during the meetings together with concerns raised and dissenting views expressed (if any). All minutes are open for inspection by any Director on reasonable notice. Such minutes are recorded in sufficient detail of the matters considered and decisions reached. Draft and final versions of minutes are sent to Directors for comment and records, respectively.

All Directors gave sufficient time and attention to the affairs of the Group to ensure a competent Board operation during the year.

Apart from the Board meetings, Board committees met on other occasions during which matter relating to their respective terms of reference was discussed. The Board committee members would receive notice, agenda and documents to be tabled for consideration in advance of each meeting in accordance with the CG Code and respective terms of reference.

董事會會議

本集團採納舉行董事會會議之常規,即包括執行董事及獨立非執行董事之董事會會議(親身出席或通過電子通訊方式)每年最少定期舉行四次。在董事會的定期會議期間,董事商討並制定本集團的整體策略,監察財務表現及審閱財務業績,以及商討決定其他重大事宜。當董事會須對某一特定事宜作決定時,亦會於其他時間召開董事會會議。

通告一般會於舉行本公司定期董事會會議前至少14日發出,至於所有其他董事會會議,則會發出合理通告。董事將於舉行定期董事會會議前收到送呈會議之議程及隨附文件,所有董事將有機會於議程中加入討論事項。

為確保董事會程序、適用規則及守則條文得到遵循,所有董事均能獲本公司公司秘書提供意見。此外,董事可應合理要求,在合適的情況下尋求獨立專業意見,費用由本公司承擔。

本公司公司秘書協助董事會主席編製各會議議程。該等會議的會議記錄乃由本公司公司秘書或於會議期間獲正式授權的其他人士保存,包括於會議上作出之所有決定,以及提出之問題及表達之反對意見(如有)。所有會議記錄在合理通知下可供任何董事查閱。該等會議記錄需足夠詳細地記錄已考慮的事宜及作出的決定。會議記錄的初稿及最終定稿應先後發送至所有董事,以供彼等作出意見及保存。

為確保董事會的有效運作,於本年度,所有董事已將充分的時間及精力投入本集團的事宜。

除董事會會議外,董事委員會於其他情況下召開會議討論與彼等各自之職權範圍有關之事宜。根據企業管治守則及各自之職權範圍,董事委員會成員將於各會議召開前收到送呈以供考慮之通告、議程及文件。

DIRECTORS' AND OFFICERS' LIABILITY INSURANCE

The Company has arranged appropriate liability insurance to cover the Directors and officers' risk exposure arising out of corporate activities. The insurance coverage is reviewed annually.

DIRECTORS' TRAINING AND PROFESSIONAL DEVELOPMENT

A comprehensive, formal and tailored induction training will be given to every newly appointed Director. Directors will be provided with materials relevant to the Company's business and director's duties and responsibilities. In addition, in order to allow the Directors to understand the latest development of regulatory and compliance issues, they are also provided with market news and regulatory updates. A summary of their records of continuous development training ("CPD") for the year was as follows:

董事及高級管理人員責任保險

本公司已安排適當之責任保險,以保障董事及高級管理人員因企業活動而可能承擔之風險。該保險範圍須每年進行檢討。

董事培訓及專業發展

每名新獲委任董事獲提供全面、正式及度身訂造的在職培訓。董事將獲提供有關本公司之業務及董事職責及責任的資料。此外,為確保董事了解監管規則及合規議題之最新發展,彼等亦獲提供市場資訊及最新監管要求。本年度彼等參與持續發展培訓(「持續發展培訓」)的記錄概要如下:

Directors	董事		Types of CPD 持續發展培訓類型	Subject of CPD 持續發展培訓主題
Executive Directors: Mr. ZHU Yongjun Ms. TIAN Yuan Mr. GAN Xiaohua (appointed on 22 July 2022)	執行董事: 朱勇軍先生田園女士甘曉華先生(於二零二二年七月二十二日獲委任)		1, 2 1, 2 1, 2	A, B A, B A, B
Independent Non-executive Directors: Mr. CHEN Ce Ms. ZHU Minli Ms. JIANG Ying	獨立非執行董事: 陳策先生朱敏麗女士江穎女士		1, 2 1, 2 1, 2	A, B A, B A, B
Note 1:		附註1:
1. Attending in-house training or seminars		1.	參與內部培訓或研討會
2. Reading newspapers, journals and updated legal and regulatory news		2.	閱覽報章、期刊及最新法律及監管資訊
Note 2:		附註2:
A. The Company and the industry's news		A.	公司及業內新聞
B. Laws, rules and regulations, accounting standards		B.	法律、規例及法規、會計準則

BOARD COMMITTEES

The Board has established four committees, namely the audit committee ("Audit Committee"), remuneration committee ("Remuneration Committee"), nomination committee ("Nomination Committee") and corporate governance committee ("CG Committee") for overseeing various particular aspects of the Group's affairs. All Board committees of the Company are established with defined written terms of reference. The terms of reference of such Board committees are available on GEM's website and the Company's website. The Board committees are provided with sufficient resource to discharge their duties and, upon reasonable request, are able to seek independent professional advice in appropriate circumstances, at the Company's expense.

All members of Audit Committee, Remuneration Committee, the Nomination Committee and the CG Committee are INEDs. The lists of the chairman and members of each Board committee are set out below.

Audit Committee

The Company established the Audit Committee on 28 January 2015 with written terms of reference. As at the date of this annual report, the Audit Committee comprises three INEDs, namely Mr. Chen Ce (Chairman of the Audit Committee), Ms. Jiang Ying and Ms. Zhu Minli. Mr. Chen Ce and Ms. Zhu Minli have appropriate professional qualifications and experience in accounting matters.

The principal responsibilities of the Audit Committee include overseeing the Group's financial reporting system, risk management and internal control procedures, reviewing the Group's financial information and reviewing the Group's relationship with external auditors.

During the year, seven Audit Committee meetings were held to review and consider the annual results for the year ended 30 June 2022, the internal control and risk management system and further audit issues raised by the external auditors. The Audit Committee endorsed the accounting treatments adopted by the Group and, to the best of its ability assured itself that the disclosures of the financial information in the Company's quarterly, interim and annual reports comply with the applicable accounting standards and the GEM Listing Rules.

The Group's unaudited quarterly and interim results and audited annual results published during the year have been reviewed by the Audit Committee, which was of the opinion that the preparation of such results complied with the applicable accounting standards and requirements and that adequate disclosure has been made.

董事委員會

董事會已成立四個委員會,分別為審核委員會 (「審核委員會」)、薪酬委員會(「薪酬委員會」)、提名委員會(「提名委員會」)及企業管治委員會(「企業管治委員會」)以監察本集團不同層面的事務。本公司所有董事委員會之成立均有特定之書面職權範圍。該等董事委員會之職權範圍可於GEM網站及本公司網站獲取。董事委員會獲得充足資源以履行其職務,並在合理要求下,可於適當情況徵求獨立專業意見,費用由本公司支付。

審核委員會、薪酬委員會、提名委員會及企業管治委員會之所有成員則為獨立非執行董事。各董事委員會之主席及成員名單載列如下。

審核委員會

本公司於二零一五年一月二十八日成立審核委員會,並制定書面職權範圍。於本年報日期, 審核委員會由三名獨立非執行董事陳策先生(審核委員會主席)、江穎女士及朱敏麗女士組成。陳策先生及朱敏麗女士具備合適專業資格及於會計事宜的經驗。

審核委員會之主要職責包括監管本集團的財務申報系統、風險管理及內部監控程序、審閱本集團財務資料及本集團與外聘核數師之關係。

於本年度,審核委員會已舉行七次會議,以審閱及考慮截至二零二二年六月三十日止年度的全年業績、內部控制及風險管理系統,以及外部核數師提出的其他審計事項。審核委員會贊同本集團所採取之會計處理方法,並已盡力確保本公司季度、中期及年度報告披露之財務資料符合適用之會計準則及GEM上市規則。

審核委員會已審閱本集團之未經審核季度及中期業績以及於本年度刊發之經審核年度業績, 其認為該等業績之編製乃符合適用之會計準則及規定並已作出足夠披露。

BOARD COMMITTEES (continued)

Remuneration Committee

The Company established the Remuneration Committee on 28 January 2015 with written terms of reference. In line with good and fair practice, as at the date of this annual report, the Remuneration Committee comprises three INEDs, namely Ms. Zhu Minli (Chairlady of the Remuneration Committee), Mr. Chen Ce and Ms. Jiang Ying.

The principal responsibilities of the Remuneration Committee include making recommendations to the Board on the Group's policy and structure for remuneration of all Directors and senior management; reviewing their remuneration packages, approving the management's proposal of remuneration packages by reference to corporate goals, objectives and market practices.

During the year, one meeting of the Remuneration Committee were held. The emoluments of the Directors are reviewed by the Remuneration Committee according to the Directors' respective responsibilities, individual performance and prevailing market conditions.

Nomination Committee

The Company established the Nomination Committee on 28 January 2015 with written terms of reference. As at the date of this annual report, the Nomination Committee comprises three INEDs, namely Ms. Zhu Minli (Chairlady of the Nomination Committee), Mr. Chen Ce and Ms. Jiang Ying. The Nomination Committee has adopted the Board Diversity Policy and the Nomination Policy.

The principal responsibilities of the Nomination Committee include reviewing the structure, size and composition of the Board, the Board Diversity Policy, the Nomination Policy, making recommendations to the Board on nomination, rotation and reappointment of Directors, and assessing the independence of INEDs.

During the year, one meeting of the Nomination Committee was held.

董事委員會(續)

薪酬委員會

本公司於二零一五年一月二十八日成立薪酬委員會,並制定書面職權範圍。為配合良好及公平之慣例,於本年報日期,薪酬委員會由三名獨立非執行董事朱敏麗女士(薪酬委員會主席)、陳策先生及江穎女士組成。

薪酬委員會之主要職責包括就本集團董事及高級管理層整體薪酬政策及架構向董事會作出建議、審閱彼等薪酬待遇、透過參考企業目的、目標及市場慣例批准管理層之建議薪酬待遇。

於本年度,薪酬委員會舉行一次會議。薪酬委員會根據董事各自的責任、個別表現及當時市況對董事薪酬進行檢討。

提名委員會

本公司於二零一五年一月二十八日成立提名委員會,並制定書面職權範圍。於本年報日期, 提名委員會由三名獨立非執行董事朱敏麗女士 (提名委員會主席)、陳策先生及江穎女士組成。提名委員會已採納董事會多元化政策及提名政策。

提名委員會之主要職責包括審閱董事會的架構、人數及組成、董事會多元化政策、提名政策、就董事之提名、輪值退任及膺選重任向董事會提供推薦建議以及評估獨立非執行董事之獨立性。

於本年度,提名委員會舉行一次會議。

BOARD COMMITTEES (continued)

Nomination Committee (continued)

Nomination Policy

The Nomination Committee adopted the Nomination Policy on 20 September 2018. Details of the Nomination Policy are set out as follows:

Selection Criteria

The Nomination Committee shall consider the following factors in assessing the suitability of a proposed candidate:

1. Reputation for integrity;
1. Accomplishment and experience in different industries;
1. Commitment to the Board in respect of available time and relevant interest;
1. Diversity in all aspects, including but not limited to gender, age, cultural and educational background, ethnicity, professional experience, skills, knowledge and length of services

These factors are not meant to be exhaustive and decisive. The Nomination Committee has discretion to nominate any person as it considers appropriate.

Nomination Procedures

1. The secretary of the Nomination Committee or the Company Secretary shall call a meeting of the Nomination Committee, and invites nominations of candidates from Board member if any, for consideration by the Nomination Committee prior to its meeting. The Nomination Committee may also put forward candidates who are not nominated by Board members.
1. For filling a casual vacancy, the Nomination Committee shall make recommendations for the Board's consideration and approval. For proposing candidates to stand for election at a general meeting, the Nomination Committee shall make nominations to the Board for its consideration and recommendation.

董事委員會(續)

提名委員會(續)

提名政策

提名委員會於二零一八年九月二十日採納提名政策。提名政策之詳情載列如下:

甄選準則

提名委員會在評估建議候選人是否合適時將參考以下因素:

1. 信譽;
1. 於不同行業的成就及經驗;
1. 為董事會可投入的時間及代表相關界別的利益;
1. 董事會各方面的多元化,包括但不限於性別、年齡、文化及教育背景、種族、專業經驗、技能、知識和服務任期等方面

上述因素並不旨在涵蓋所有因素,也不具決定性作用。提名委員會可決定提名任何其認為適當的人士。

提名程序

1. 提名委員會秘書或公司秘書須召開提名委員會會議,並邀請董事會成員提名人選(如有)供提名委員會開會前考慮。提名委員會亦可提名未獲董事會成員提名的人選。
1. 如要填補臨時空缺,提名委員會須推薦人選供董事會考慮及批准。如要推薦候選人在股東大會上參選,提名委員會須向董事會提名供其考慮及推薦參選。

BOARD COMMITTEES (continued)

Nomination Committee (continued)

Nomination Policy (continued)

Nomination Procedures (continued)

1. Until the issue of the shareholder circular, the nominated persons shall not assume that they have been proposed by the Board to stand for election at the general meeting.
1. In order to provide information of the candidates nominated by the Board to stand for election at a general meeting, and to invite nominations from shareholders, a circular will be sent to shareholders. The circular will set out the lodgment period for shareholders to make the nominations. The names, brief biographies (including qualifications and relevant experience), independence, proposed remuneration and any other information, as required pursuant to the applicable laws, rules and regulations, of the proposed candidates will be included in the circular to shareholders.
1. A shareholder can serve a notice to the Company Secretary within the lodgement period of its intention to propose a resolution to elect a certain person as a Director, without the Board's recommendation or the Nomination Committee's nomination, other than those candidates set out in the shareholder circular. The particulars of the candidates so proposed will be sent to all shareholders for information by a supplementary circular.
1. A candidate is allowed to withdraw his candidature at any time before the general meeting by serving a notice in writing to the Company Secretary or Chairman.
1. The Board shall have the final decision on all matters relating to its recommendation of candidates to stand for election at any general meeting.

The Nomination Committee may obtain independent professional advice, at the Company's expense, to perform its responsibilities if it considers necessary.

Corporate Governance Committee

The Company established the CG Committee on 28 January 2015 with written terms of reference. As at the date of this annual report, the CG Committee comprises three INEDs, namely Mr. Chen Ce (Chairman of the CG Committee), Ms. Zhu Minli and Ms. Jiang Ying.

董事委員會(續) 提名委員會(續) 提名政策(續) 提名程序(續)

1. 在直至發出股東通函前,被提名人士不可假設其已獲董事會推薦在股東大會上參選。
1. 為提供有關獲董事會提名在股東大會上參選的候選人資料及邀請股東提名人選,本公司將會向股東發出通函,列出股東遞交提名的期限。建議候選人的姓名、簡歷(包括資格及相關經驗)、獨立性、建議酬金及任何其他資料將根據適用的法律、規則及規例載於向股東發出的通函。
1. 股東可於提名期限內,在沒有董事會推薦或提名委員會的提名下向公司秘書發送通知,提出議案提名股東通函所載候選人以外的其他人士參選董事。有關建議候選人的個人資料將透過補充通函發送全體股東以提供有關資料。
1. 候選人可於股東大會舉行前任何時候向公司秘書或主席發出書面通知退選。
1. 董事會對於其推薦候選人在任何股東大會上參選的所有事宜有最後決定權。

提名委員會可於其認為必要時獲取獨立專業意見以履行其責任,費用由本公司承擔。

企業管治委員會

本公司於二零一五年一月二十八日成立企業管治委員會,並制定書面職權範圍。於本年報日期,企業管治委員會由三名獨立非執行董事陳策先生(企業管治委員會主席)、朱敏麗女士及江穎女士組成。

BOARD COMMITTEES (continued)

Corporate Governance Committee (continued)

The principal duties of the CG Committee include, among other things: (i) developing and reviewing the Company's policies and practices on corporate governance and making recommendations to the Board; (ii) reviewing and monitoring the training and continuous professional development of Directors and senior management; (iii) reviewing and monitoring the Company's policies and practices on compliance with legal and regulatory requirements; (iv) developing, reviewing and monitoring the code of conduct and compliance manual (if any) applicable to the Group's employees and Directors; and (v) reviewing the Company's compliance with the Corporate Governance Code and disclosure in the Corporate Governance Report.

During the year, one meeting of the CG Committee was held.

COMPANY SECRETARY

Ms. Foo Man Yee Carina of CS Legend Business Services Limited, an external service provider, has been engaged by the Company as company secretary. Her primary contact person at the Company is Ms. Tian Yuan, an executive Director of the Company.

During the year, the company secretary undertook not less than fifteen hours of relevant professional training required under Rule 5.15 of the GEM Listing Rules.

DIRECTORS' AND AUDITORS' RESPONSIBILITIES FOR THE CONSOLIDATED FINANCIAL STATEMENTS

The Directors are aware of that the Group experienced a loss of approximately HK\$29,991,000 for the year ended 30 June 2023 and had borrowings and loan from shareholders and directors, a shareholder and a director due within one year of approximately HK\$4,691,000, HK\$30,416,000, HK\$17,254,000 and HK\$157,000 respectively as at that date. These conditions, along with other matters as set forth in note 3 to the consolidated financial statements, indicate that a material uncertainty exists that may cast significant doubt on the Group's ability to continue as a going concern. The Directors, having considered the measures being taken by the Group, are of the opinion that the Group would be able to continue as a going concern.

The consolidated financial statements of the Group for the year ended 30 June 2022 were audited by CCTH CPA Limited who expressed a qualified opinion on those statements on 19 January 2023.

The statements of the external auditors of the Group, Prism Hong Kong and Shanghai Limited, about their reporting responsibilities on the consolidated financial statements of the Group are set out in the section headed "Independent Auditor's Report" of this annual report.

董事委員會(續)

企業管治委員會(續)

企業管治委員會主要職責包括(其中包括):(i) 制訂及審閱本公司之企業管治政策及慣例並向董事會作出建議;(ii)審核及監控董事及高級管理層之培訓及持續專業發展;(iii)審核及監控本公司之政策及慣例符合法律及法規規定;(iv)制訂、審閱及監控適用於本集團之僱員及董事之行為守則及合規手冊(如有);及(v)審核本公司遵守企業管治守則及企業管治報告披露。

於本年度,企業管治委員會舉行一次會議。

公司秘書

本公司已委聘外部服務供應商領駿商業服務有限公司的傅曼儀女士為公司秘書。其於本公司的主要聯絡人為本公司執行董事田園女士。

於本年度,公司秘書已進行不少於十五小時的 GEM上市規則第5.15條所規定之相關專業培訓。

董事及核數師編製綜合財務報表之責任

董事注意到本集團於截至二零二三年六月三十日止年度錄得虧損約29,991,000港元及於該日有於一年內到期的來自股東及董事、來自一名股東及董事借貸及貸款分別約4,691,000港元、 30,416,000港元、17,254,000港元及157,000 港元。該等情況連同其他事項,如綜合財務報表附註3所載,表明存在重大不確定性,其可能會對本集團持續經營的能力構成重大疑慮。經考慮本集團採取的措施後,董事認為本集團將能夠按持續經營基準繼續營運。

本集團截至二零二二年六月三十日止年度的綜合財務報表由中正天恆會計師有限公司審核, 其於二零二三年一月十九日對該等報表發表保留意見。

本集團之外聘核數師上會栢誠會計師事務所有限公司就本集團綜合財務報表進行報告之責任聲明載於本年報「獨立核數師報告」一節。

AUDITORS' REMUNERATION

The Audit Committee is responsible for considering and reviewing the appointment of the external auditors and reviewing any nonaudit functions performed by the external auditors, including whether such non-audit functions could lead to any potential material adverse effect on the Group.

For the year, the fees paid/payable to the auditors in respect of the audit and non-audit services are as follows:

核數師酬金

審核委員會負責考慮及審閱外聘核數師之委任及審查由外聘核數師所提供之任何非核數服務,包括任何可能對本集團產生重大不利影響之有關非核數服務。

於本年度,就核數及非核數服務之已付╱應付核數師之費用如下:

Services	服務	Fee 費用 HK\$'000 千港元
Audit services	核數服務	700
Non-audit services	非核數服務	0
REMUNERATION OF SENIOR MANAGEMENT	高級管理層之薪酬

Pursuant to Code Provision E.1.5 of the CG Code, the Company is required to disclose the remuneration of the member(s) of senior management of the Group (excluding the Directors of the Company).

The Company did not have any senior management as at the year end date.

DIVIDEND POLICY

The Company established the dividend policy (the "Dividend Policy") on 13 February 2019. The Dividend Policy aims to allow its shareholders to participate in the Company's profit whilst to retain adequate reserves for future growth. The Board may declare special dividends in addition to such dividends as it considers appropriate.

In proposing any dividend payout, the Company would consider various factors including (i) the Group's profits earned during the financial year; (ii) the general economic and financial conditions and other internal or external factors that may have an impact on the business and operation of the Group; (iii) changes in capital structure of the Group; (iv) acquisitions and dispositions of the Group; (v) changes in credit arrangements of the Group; (vi) the cash flow position of the Group; and (vii) the past dividend trends of the Group.

根據企業管治守則之守則條文第E.1.5條,本公司須披露本集團高級管理層成員(不包括本公司董事)之薪酬。

截至年結日,本公司並無任何高級管理層。

股息政策

本公司已於二零一九年二月十三日制定股息政策(「股息政策」)。股息政策旨在讓股東分享本公司溢利,同時就未來發展保留充足儲備。除該等股息外,董事會可宣派其認為適當之特別股息。

於建議派付任何股息時,本公司將考慮多種因素,包括(i)本集團於財政年度所賺取之溢利;(ii) 整體經濟及財務狀況以及其他可能會對本集團業務及營運造成影響的內部或外部因素;(iii)本集團資本結構變動;(iv)本集團之收購及出售事項;(v)本集團信貸安排變動;(vi)本集團現金流量狀況;及(vii)本集團過往派息趨勢。

RISK MANAGEMENT AND INTERNAL CONTROL

The Board acknowledges its responsibility for the risk management and internal control systems ("Systems") and reviews their effectiveness annually. Such Systems are designed to manage rather than eliminate the risk of failure to achieve business objectives, and can only provide reasonable and not absolute assurance against material misstatement or loss. Such risks would include, amongst others, material risks relating to ESG.

The Board has the overall responsibility for evaluating and determining the nature and extent of the risks it is willing to take in achieving the Company's strategic objectives, and establishing and maintaining appropriate and effective Systems.

The Company has been developing and adopting various risk management procedures and guidelines with defined authority for implementation by key business processes and office functions, including project management, financial reporting, human resources etc. The main features are as follows:

Control structure

A. The Board

(i) ensure the maintenance of appropriate and effective Systems in order to safeguard the Shareholders' investment and assets of the Company;
(ii) define management structure with clear lines of responsibility and limit of authority; and
(iii) determine the nature and extent of significant risk (including ESG risk) that the Company is willing to take in achieving the strategic objectives and formulate the Company's risk management strategies.

B. Audit Committee

(i) assist the Board in leading the Management and overseeing their design, implementation and monitoring of the Systems of the Company;
(ii) review and discuss with the Management annually to ensure that the Management has performed its duty to have effective Systems; and
(iii) consider major findings on internal control matters and make recommendations to the Board.

風險管理及內部監控

董事會確認其有關風險管理及內部監控系統 (「該等系統」)之責任,並每年檢討其成效。該等系統乃旨在管理而非消除未能達成業務目標之風險,而且只能就不會有重大失實陳述或損失作出合理而非絕對保證。有關風險包括(其中包括)與環境、社會及管治相關的重大風險。

董事會對評估及釐定本公司在達成策略目標時願意承擔之風險之性質及程度承擔整體責任, 並且制定及維持合適及有效之該等系統。

本公司已制定及採納多項風險管理程序及指引,並授出確定權力以供主要業務程序及辦事處職能部門(包括項目管理、財務報告、人力資源等)實施。主要特點如下:

監控架構

A. 董事會

(i) 確保維持該等系統的合適及有效性以保障股東投資及本公司資產;
(ii) 制定有明確責任及權限的管理架構; 及
(iii) 釐定本公司就達致戰略目標所願承擔之重大風險(包括環境、社會及管治風險)之性質及程度,並制定本公司之風險管理策略。

B. 審核委員會

(i) 協助董事會領導管理層及監管其設計、實施及監控本公司之該等系統;
(ii) 每年檢討並與管理層討論該等系統, 以確保管理層履行其職責以維持該等系統之有效性;及
(iii) 考慮有關內部監控事宜的重要發現並向董事會提出推薦建議。

RISK MANAGEMENT AND INTERNAL CONTROL (continued)

Control structure (continued)

C. The Management

(i) design, implement and monitor the Systems properly and ensure the Systems are executed effectively;
(ii) monitor risks and take measures to mitigate risks in day-to-day operations;
(iii) give prompt responses to, and follow up the findings on internal control matters; and
(iv) provide confirmation to the Board on the effectiveness of the Systems.

D. Internal Audit Function

(i) carry out the analysis and independent appraisal of the adequacy and effectiveness of the Systems.

Control approach

The risk management process includes risk identification, risk evaluation and risk management measures and also reviewing the effectiveness of the Systems and resolving material internal control defects.

The Company engaged an independent internal control consultant to conduct interviews with relevant staff members, reviewing relevant documentation of the internal control system, identifying and evaluating findings of any deficiencies in the design of the Company's internal control system, providing recommendations for improvement and following up on the effectiveness of implementation of such recommendations, where appropriate. The scope and findings of review on the risk management and internal control are reported to and reviewed by the Audit Committee during the year.

Procedure manuals and operational guidelines are in place to safeguard the assets against unauthorised use or disposition, ensuring maintenance of proper accounting records in compliance with the applicable laws, rules and regulations for the provision of reliable financial information for internal use and/or external publication.

風險管理及內部監控(續)

監控架構(續)

C. 管理層

(i) 妥善設計、實施及監督該等系統, 並確保該等系統得到有效執行;
(ii) 監察風險並採取措施降低日常營運風險;
(iii) 對有關內部監控事宜之發現作出及時的回應及跟進;及
(iv) 就該等系統之有效性向董事會提供確認。

D. 內部審核職能

(i) 對該等系統之充足性及有效性進行分析及獨立評估。

監控方法

風險管理程序包括風險識別、風險評估及風險管理措施,亦檢討該等系統的有效性及解決重大內部監控缺失。

本公司委聘獨立內部控制顧問與相關員工進行面談,並審閱內部監控系統相關文件,識別及評估本集團內部監控系統設計之所發現之不足,就改善措施提供推薦建議及跟進實施有關建議之有效性(倘適用)。對風險管理及內部監控審閱的範圍及結果已於年內呈報審核委員會並經其審核。

制定程序手冊及運作指引以保障未經授權使用或處置資產,確保根據適用法律、規則及法規維持適當會計記錄,以提供可靠財務資料供內部使用及╱或對外刊發。

RISK MANAGEMENT AND INTERNAL CONTROL (continued)

Control approach (continued)

During the year under review, the Board engaged Prism Advisory Limited to perform internal control review on major business operations of the Group. RSM evaluated the internal control system and studied also risks and mitigation strategies. An internal control review report with the relevant findings and recommendations was prepared to the Board. Meanwhile, the risks identified during the review exercise together with the respective ratings, existing situations and mitigating plans were all documented in the risk register. Prism Advisory Limited had identified certain deficiencies on the internal control systems. The Board would take appropriate actions to improve its internal control systems as recommended by them.

Review of the Risk Management and Internal Control Systems

Management has formulated remedial action plans to address the gaps and weakness identified during internal control selfassessment, internal control reviews and internal audits, covering core business areas of the Group. The Group's senior management and finance team has conducted follow-up reviews periodically to ensure remedial actions are taken on a timely basis, and has reported the results of the follow-up reviews to the Audit Committee. The Group currently does not have an internal audit department, but it has engaged Prism Advisory Limited to provide the Group with internal audit services. The Board will review and consider to establish such department as and when it thinks necessary.

Inside Information

To ensure timely, fair, accurate and complete disclosure of inside information and for compliance with the applicable laws and regulations, the Group has in place the "Continuous Disclosure and Communication Policy" for handling and dissemination of inside information. Under the procedures, heads of business units shall report to the Directors any potential inside information event as soon as practicable when it materialises for determining the nature of developments, and if required, making disclosure.

風險管理及內部監控(續)

監控方法(續)

於回顧年度,董事會委聘上會永晉諮詢有限公司對本集團主要業務進行內部控制評核。羅申美評估內部監控系統及研究風險以及風險紓緩策略。他們為董事會編製內部控制評核報告, 並附上有關研究結果及建議。同時,在審閱活動確認的風險,以及有關評級、現時的狀況及紓緩計劃均記錄於風險登記冊上。上會永晉諮詢有限公司已識別內部監控系統存在的若干缺陷。董事會將按照彼等之建議採取適當措施, 以改善其內部監控系統。

檢討風險管理及內部監控系統

管理層已制定補救行動計劃,以彌補內部監控自我評估、內部監控檢討及內部審核過程中發現的漏洞及缺陷,其涵蓋本集團的核心業務領域。本集團高級管理層及財務團隊定期進行後續檢討,以確保及時採取補救措施,並向審核委員會匯報後續檢討結果。本集團目前並無內部審計部門,惟其已委聘上會永晉諮詢有限公司向本集團提供內部審計服務。董事會將檢討及審議有必要時成立有關部門。

內幕消息

為確保適時、公平、準確及完整披露內幕消息及符合適用法律及規例,本集團就處理及發佈內幕消息訂有「持續披露及溝通政策」。在該等程序下,業務部門主管如發現任何潛在內幕消息事件,須在實際可行情況下盡快向董事報告,以釐定事態發展的性質,及在有需要時作出披露。

RISK MANAGEMENT AND INTERNAL CONTROL (continued)

Annual Review

During the year, the Audit Committee has conducted an annual review of the risk management and internal control systems. The results of the review were reported by the Audit Committee to the Board, based on which the Directors concluded that, for the year, the risk management and internal control systems were effective and adequate and the Group has complied with the provisions in the CG Code regarding risk management and internal control.

Whistleblowing policy and anti-fraud and anti-bribery policy

The Company has put in place a whistleblowing policy and system for employees and those who deal with the Company (e.g. customers, suppliers, creditors and debtors) to raise concerns, in confidence and anonymity, with the audit committee (or any designated committee comprising a majority of independent nonexecutive directors) about possible improprieties in any matter related to the Company.

The Company has also put in place an anti-fraud and anti-bribery policy and system that promote and support anti-corruption laws and regulations.

SHAREHOLDERS' RIGHTS

Pursuant to Article 64 of the Company's Articles of Association, any one or more Shareholders ("Requisitionist(s)") holding not less than one-tenth of the paid up capital of the Company having the right of voting at general meetings at the date of deposit of the requisition shall have the right, by written notice to the Board or the company secretary of the Company, to require an EGM to be called by the Directors for the transaction of any business specified in such requisition.

Such meeting shall be held within two months after the deposit of such requisition. If within twenty-one days of such deposit the Board fails to proceed to convene such EGM, the Requisitionist(s) himself (themselves) may do so in the same manner, and all reasonable expense incurred by the Requisitionist(s) as a result of the failure of the Board shall be reimbursed to the Requisitionist(s) by the Company.

風險管理及內部監控(續)

年度檢討

於本年度,審核委員會已就風險管理及內部監控系統進行年度檢討。審核委員會已向董事會匯報檢討結果。根據檢討結果,董事認為,於本年度,風險管理及內部監控系統有效及足夠,且本集團已遵守企業管治守則中有關風險管理及內部監控的條文。

舉報政策以及反欺詐及反賄賂政策

本公司已制定舉報政策及制度,讓僱員及與本公司有往來者(如客戶、供應商、債權人及債務人)可以保密及匿名的方式向審核委員會(或由大部分獨立非執行董事組成的任何指定委員會) 提出其對任何可能關於本公司的不當事宜的關切。

本公司亦已制定反欺詐及反賄賂政策及制度, 以促進及支持反貪污法律及法規。

股東權利

根據本公司組織章程細則第64條,於遞交請求當日持有不少於本公司繳足股本(附有股東大會之投票權)十分之一的任何一名或以上股東 (「請求人」)有權向董事會或本公司之公司秘書提交書面請求,要求董事召開股東特別大會, 以處理該請求所指明之任何事務。

有關大會須於有關請求遞交日期起計兩個月內舉行。如董事會未有於請求遞交日期起計二十一天內安排召開有關股東特別大會,請求人可按相同方式召開會議,而請求人因董事會未有召開大會而產生的所有合理開支,將會獲本公司彌償。

SHAREHOLDERS' RIGHTS (continued)

The requisition in writing should be sent to the Company's principal place of business at Room 702, 7/F, Harbour Crystal Centre, 100 Granville Road, Tsim Sha Tsui, Kowloon, Hong Kong.

The same procedure also applies to any proposal to be tabled at shareholders' meetings for adoption. The Board will review Shareholders' enquires on a regular basis. Specific enquiries and suggestions by Shareholders can be sent in writing to the Board or the company secretary at the above address.

In case of shareholding enquires, Shareholders should direct their enquiries to the Company's Hong Kong branch share registrar, Union Registrars Limited, via its online holding enquiry at www.unionregistrars.com.hk, dial its hotline at (852) 2849 3399 or go in person at its public counter at Suites 3301–04, 33/F., Two Chinachem Exchange Square, 338 King's Road, North Point, Hong Kong.

COMMUNICATION WITH SHAREHOLDERS

The Group is committed to maintaining a high level of transparency and employs a shareholders' communication policy of open and timely disclosure of relevant information to its Shareholders. The focus of the Company is to ensure information disclosure is timely, fair, accurate, truthful and complete thereby enabling the public as well as the investors to make rational and informed decisions.

The Board strives to encourage and maintain constant dialogue with its Shareholders through various means. The Company updates its Shareholders on its latest business developments and financial performance through its annual, interim and quarterly reports. All Shareholders' communications are available on the Company's website. The website of the Company also provides email address, postal address, fax number and telephone number by which Shareholders' enquiries may be put to the Company's Board. Appropriate members of the Board and senior management are ready to respond to enquiries from Shareholders and investors on a timely basis.

股東權利(續)

該書面請求應提交至本公司的主要營業地點, 地址為香港九龍尖沙咀加連威老道100號港晶中心7樓702室。

相同程序亦適用於任何提呈股東大會採納的建議。董事會將定期審閱股東查詢。股東提出的具體查詢及建議可以書面形式按上述地址送交董事會或公司秘書。

如對持股事宜有任何查詢,股東可透過以下方式向本公司的股份過戶登記處香港分處聯合證券登記有限公司查詢:使用其網上持股查詢服務(網址:www.unionregistrars.com.hk);致電其熱線(852) 2849 3399;或親身前往其公眾櫃台,地址為香港北角英皇道338號華懋交易廣場2期33樓3301–04室。

與股東溝通

本集團致力維持高水平透明度及採用向其股東公開且及時披露相關資料的股東溝通政策。本公司著力確保有關資料披露屬及時、公平、準確、真實及完整,務求使公眾及投資者作出合理知情決定。

董事會努力透過多種方式鼓勵及維持與其股東持續對話。本公司透過其年度報告、中期報告及季度報告向其股東提供有關其最新業務發展及財務表現的資訊。所有股東通訊均可於本公司網站閱覽。本公司網站亦提供股東向本公司董事會查詢的途徑,包括電郵、郵寄地址、傳真號碼及電話號碼。董事會及高級管理層之適合成員均會就股東及投資者的提問及時作出回應。

COMMUNICATION WITH SHAREHOLDERS (continued)

The annual general meeting of the Company provides a useful forum for Shareholders to exchange views with the Board. All Directors will make an effort to attend. External auditors are also available at the annual general meeting to address Shareholders' queries. In case of any general meeting to approve a connected transaction or any other transaction that is subject to independent Shareholders' approval, members of the independent Board committee will also make an effort to attend to address Shareholders' queries.

In order for the Company to solicit and understand the views of shareholders and stakeholders, Shareholders and stakeholders may make enquiries to the Company in writing and should be sent to the Company's principal place of business at Room 702, 7/F, Harbour Crystal Centre, 100 Granville Road, Tsim Sha Tsui, Kowloon, Hong Kong.

The Company reviewed the implementation and effectiveness of the shareholders' communication policy conducted during the year and considered that the policy is effective since the policy was able to facilitate an open and on-going communication with the Shareholders on fair disclosure basis.

CONSTITUTIONAL DOCUMENTS

For the purpose of (i) updating and amending the Memorandum and Articles of the Company in line with the amendments made to the Listing Rules and applicable laws and procedures of the Cayman Islands, (ii) providing flexibility to the Company in relation to the conduct of general meetings, and (iii) making other consequential and housekeeping improvements, the Shareholders passed a special resolution on 10 October 2022 to adopt the Second Amended and Restated Memorandum and Articles.

Details of the amendments brought about by the adoption of the Second Amended and Restated Memorandum and Articles are set out in the Company's circular dated 31 August 2022. The Second Amended and Restated Memorandum and Articles are available on both the Company's and the Stock Exchange's website.

與股東溝通(續)

本公司的股東週年大會提供一個有效平台供股東與董事會交流意見。所有董事均盡力出席大會。外聘核數師亦會出席股東週年大會以解答股東查詢。就通過關連交易或任何須經獨立股東批准的其他交易的股東大會而言,獨立董事委員會成員亦將盡力出席大會以解答股東查詢。

為便於本公司徵求及了解股東及持份者的意見,股東及持份者可向本公司作出書面查詢, 並寄送本公司主要營業地點,地址為香港九龍尖沙咀加連威老道100號港晶中心7樓702室。

本公司於年內檢討股東溝通政策的實施情況及成效,並認為該政策有效,原因是該政策可促進在公平披露的基礎上與股東進行公開持續溝通。

章程文件

為了(i)更新及修訂本公司組織章程大綱及細則, 以符合上市規則之修訂及開曼群島適用法律及程序;(ii)為本公司在召開股東大會方面提供靈活性;及(iii)作出其他相應內務改進,股東於二零二二年十月十日通過一項特別決議案,以採納第二份經修訂及重訂組織章程大綱及細則。

採納第二份經修訂及重訂組織章程大綱及細則的修訂詳情載於本公司日期為二零二二年八月三十一日的通函。第二份經修訂及重訂組織章程大綱及細則可於本公司及聯交所網站查閱。

ABOUT THIS REPORT

This Environmental, Social and Governance ("ESG") Report (the "Report") aims to describe the system construction and performances of Million Stars Holdings Limited (the "Company" or "Million Stars") and its subsidiaries (the "Group" or "we/us") in fulfilling environmental and social responsibilities. This Report is published on the websites of The Stock Exchange of Hong Kong Limited (the "Stock Exchange") (www.hkexnews.hk) and the Company (www.millionstars.hk).

SCOPE OF REPORTING

The Group principally provides internet advertising services to different customers in Hong Kong and mainland China. The Report covers operations of the Shanghai Office, where the Group's core internet business was carried out. The Group relocated its office in Shanghai (the "Shanghai Office") from a standalone building to a commercial office building during 2022/23.

The Report describes the Group's ESG performances during the financial year from 1 July 2022 to 30 June 2023 (the "Year").

REPORTING STANDARD

This Report is prepared in accordance with the Environmental, Social and Governance Reporting Guide (the "Guide") as set out in Appendix 20 to the GEM Listing Rules of the Stock Exchange on the basis of the four reporting principles (i.e. materiality, quantitative, balance and consistency). A complete content index is appended in the last chapter of this Report for easy comprehension with reference to the Guide.

關於本報告

本環境、社會及管治報告(「本報告」)旨在闡述萬星控股有限公(「本公司」、「公司」或「萬星」) 及其附屬公司(「本集團」、「集團」或「我們」)在履行環境與社會責任方面的制度建設和績效表現。並同時刊載於香港聯合交易所有限公司 (「聯交所」)網站(www.hkexnews.hk)及本公司網站(www.millionstars.hk)。

匯報範圍

本集團主要於香港及中國大陸地區為不同客戶提供互聯網廣告投放服務。本報告覆蓋代表本集團的核心互聯網業務的上海辦公室的營運。本集團於二零二二╱二三年期間將上海的辦公室(簡稱「上海辦公室」)由獨幢樓房遷移到商業辦工樓。

本報告匯報本集團在二零二二年七月一日至二零二三年六月三十日之財政年度內(「本年度」) 之環境、社會及管治表現。

報告準則

本報告遵循聯交所《GEM上市規則》附錄二十中的《環境、社會及管治報告指引》(「《指引》」)編寫,並按照四項匯報原則 — 重要性、量化、平衡及一致性,作為編寫報告的基礎。本報告最後一章附有完整索引,以便讀者按《指引》閱讀本報告。

REPORTING PRINCIPLES

In line with the ESG Reporting Guide, the Report has applied the following principles:

Materiality: In order to identify and assess major issues that have an impact on business stakeholders, we also conducted materiality assessment surveys through multiple ways of extensive communication with business stakeholders to determine factors that have a significant impact on the sustainable development of the Group.

Quantitative: The Report would perform annual performance comparison with suitable quantitative data recorded and estimated by relevant departments of the Group when applicable. The Group has adopted the national and international standards such as guidelines issued by the National Development and Reform Commission of the People's Republic of China (the "PRC"), ISO 14064-1 Greenhouse Gas Protocol.

Balance: We aim to keep our report balanced and make fair disclosures on critical aspects of our performance, both in terms of progress made and on-going challenges that we are dealing with. The information in this Report mainly comes from internal statistical reports, documents and communication documents during the reporting period.

Consistency: We have reported in accordance with the Environmental, Social and Governance Reporting Guide issued by the Hong Kong Stock Exchange. If there are any changes that may affect the comparison with previous reports in future, the Group will add remarks to the corresponding content of upcoming reports.

匯報原則

本報告依循ESG報告指引,應用以下原則:

重要性:為識別及評估對業務有關人士有影響的重大事宜,我們還透過多項與業務有關人士的溝通活動,進行實質性評估調查,以釐定對本集團可持續發展有重大影響的因素。

量化:本集團的相關部門對量化資料作出紀錄及估算,在可行情況下,本報告會對適當的量化資料進行年度績效比較。本集團採納中華人民共和國(「中國」)國家發展和改革委員會發布的指南及ISO 14064-1溫室氣體盤查議定書等國家及國際標準。

平衡:我們的目標是維持報告平衡,並就本集團表現最關鍵方面的進度及持續挑戰作出公平披露。本報告的資料主要來自於本報告期的內部的統計報告、文檔及溝通文件。

一致性:我們遵循「香港聯交所環境、社會及管治報告指引」進行匯報。未來若有任何可能影響與過往報告作比較的變更,本集團會於報告相應內容加入註解。

FEEDBACK

The Group welcomes stakeholders' feedback on our ESG approach and performance. Please share your views with us via the following contact methods.

Address: Room 702, 7/F, Harbour Crystal Centre 100 Granville Road Tsim Sha Tsui Kowloon, Hong Kong
Tel: (852) 3589 6590
Fax: (852) 3586 9060
Email: [email protected]

THE BOARD'S ESG STATEMENT

The management of Million Stars stays committed to incorporating corporate social responsibilities into business operations. The Board accepts full responsibility for the sustainability of the Group, including formulating strategies, overseeing the Company's ESG performance and relevant risks, and approving the Report. The Report has been confirmed and approved by the Board on 29 September 2023.

All of the Group's management will assist the Board in periodic evaluation of principal risks exposed to the Group and estimation made for the uncertainties; and participates in formulating appropriate risk management and internal control measures for the purpose of on-going monitoring of such risks and assessing the appropriateness of such estimations.

意見反饋

本集團歡迎各持份者就我們的環境、社會及管治方法及表現提供意見,請以以下的聯絡方式與我們分享您的意見。

地址:香港九龍尖沙咀加連威老道100號港晶中心7樓702室

電話:(852) 3589 6590

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董事會的環境、社會及管冶聲明

萬星的管理層致力將企業社會責任融入業務營運之中。我們的董事會肩負起本集團可持續發展事宜的全部責任,包括制定策略,監督本公司的環境、社會及管治表現及相關風險,以及審批本報告。本報告已於二零二三年九月二十九日獲董事會確認及批准。

本集團管理層均會協助董事會定期評估本集團所面臨的主要風險,並就不確定因素作出估計; 參與制定適當風險管理及內部監控措施,以持續監控有關風險及評估有關估計的適當性。

THE BOARD'S ESG STATEMENT (continued)

The directors will also regularly review the implementation effectiveness of the systems and whether they cover major control measures, including operations team management, business development and planning, occupational health and safety, finance, risk management and investor relations. Representatives from other business functions are also involved, such as legal and policy; innovation; safety, health and environmental protection; and human resources units. Meanwhile, the Board also launches or formulates strategic sustainable development projects and carries out strategic discussions on emerging opportunities and challenges.

In the pursuit of business development, the Group is dedicated to improving its business operation management. As the Group's operations are primarily conducted via computer and clerical work in general, we mainly consume electricity and paper resources. With an aim to reduce emissions and conserve resources, we follow the "4R" waste management strategy and green products, such as using paper certified by the Forest Stewardship Council to reduce the impact on the surrounding environment where we operate. Meanwhile, we have developed a sound employment system, established a diversified, inclusive, healthy and safe working environment, and maintained close communication with employees to understand their needs. We prioritized the safety and well-being of employees, and provided anti-pandemic supplies and flexible working arrangements for employees in need.

The Group will remain vigilant and comprehensively respond to the challenges and changes in the business environment, in a move to seize opportunities presented by the rapid development of the internet advertising industry. In addition, the Group will continue to communicate with stakeholders, improve the social responsibility management system, and further enhance the Group's performance in terms of environmental and social aspects, thereby meeting the requirements of regulators and investors for sustainable development and creating long-term and sustainable value for the shareholders and stakeholders of the Group.

董事會的環境、社會及管冶聲明(續)

董事亦會定期檢討系統的實施成效及涵蓋重大監控措施,包括營運團隊管理、業務發展及規劃、職業健康和安全、財務、風險管理和投資者關係。其餘的業務職能亦有參與其中,包括法律及政策、創新、安全、健康與環境保護、人力資源等各業務單位代表。同時,董事會亦啟動或制定策略性的可持續發展項目,並就新出現的機遇和挑戰進行策略性討論。

本集團在發展業務的同時,致力完善業務營運管理。本集團的營運一般以電腦及文書工作為主,故此我們主要使用資源為電力及紙張。我們一直以來減少排放物及珍惜資源為目標,我們奉行「4R」的廢棄物管理策略及綠色產品,如會面使用經「森林管理委員會認證」的紙張,以減少對營運所在地周邊環境的影響。同時,我們設有健全的僱傭制度,建立一個多元共融及健康安全的工作環境,並與各員工維持緊密溝通,以瞭解員工的需要,我們以員工安全及福祉為優先,為有需要的員工提供防疫用品及彈性的工作安排。

本集團會保持警惕及全方位應對業務環境中的挑戰和變化,以抓住互聯網廣告行業飛速發展的機遇。另外,本集團將繼續與持份者溝通, 持續完善社會責任管理系統,進一步提升本集團於環境與社會的表現,從而滿足監管機構及投資者對可持續發展事宜的要求,以及為本集團的股東及持份者創造長遠及持久價值。

OUR GOALS 我們的目標

Our Goals 我們的目標
Strict compliance with laws and • regulations 嚴守法規 • • •	Legal compliance — Ensure that the Group's business operations comply with applicable laws and regulations — 確保本集團的業務運作符合適用的法律法規合法合規 Ethics — Abide by the ethical standards of business integrity and establish the compliance culture — 恪守商業誠信道德標準,樹立合規的文化道德規範
Quality assurance • 品質保証 • • •	Product innovation — Proactively enhance the Group's creativity, and forge an optimized product customized service and management system — 積極提升企業創作能力,形成完善的產品定制化服務產品創新和經營體系 Product quality — Ensure sound product quality to meet customers' requirements — 確保產品質素良好,符合客戶的要求產品質素
Environmental protection • 守護環境 • • •	Environmental management — Regularly monitor various environmental parameters for the purpose of minimizing related environmental impacts, so as to conserve resources and reduce emissions — 定期監察各類環境參數,盡量減少相關的環境影響, 環境管理以節約資源及減少排放 Climate change strategies — Regularly review the Group's approach to climate change, and identify and respond to relevant physical and transition risks and opportunities — 定期檢討本集團應對氣候變化的方針,並識別和氣候變化策略應對相關的實體和轉型風險與機遇
People-oriented • 以人為本 • • •	Diversity and inclusiveness — Respect the labour rights and human rights of all employees, maintain high moral standards, clearly stipulate human resources management policies, and advocate an inclusive culture within the Company — 尊重所有員工的勞工權利及人權,維持高道德標準, 多元包容並清楚訂明人力資源管理政策,並在公司內倡導包容的文化 Work safety — Provide employees with adequate support, and pleasant and healthy working environment — 為員工提供充足支援、愉快及健康的工作環境安全工作
Rewarding society • 回饋社會 •	Leverage our expertise and resources to serve the communities where we operate 利用我們的專長和資源,為業務所在地的社區服務

STAKEHOLDERS ENGAGEMENT AND MATERIALITY ASSESSMENT

持份者參與及重要性評估

The opinions of stakeholders serve as the best reference for improving our operational performance and promoting business development. We communicate with stakeholders (investors, shareholders, employees, suppliers and customers, etc.) through various means to collect their opinions.

持份者的意見是改善我們的經營業績及促進業務發展的最佳參考。我們通過各種方式與持份者(投資者、股東、員工、供應商及客戶等)進行溝通,以收集他們的意見。

Major stakeholders 主要持份者	Means of communication 溝通方式
Shareholders 股東	All shareholders can submit their opinions to the Board or the company secretary by email or other means, and the Board will review and discuss the relevant opinions on a regular basis. Shareholders can also make enquiries and discuss with the Board at the annual general meeting. 所有股東可通過電郵或其他方式向董事會或公司秘書提出意見,而董事會將定期審閱及討論相關意見。股東亦可於股東周年大會上向董事會作出查詢並與之討論。
Investors 投資者	We view active communication with investors as essential to the long-term development of the Group. In addition to handling email and telephone enquiries, the management also participates in investor meetings to provide institutional and international investors with answers and explanations in person on the Group's development strategies. The suggestions and feedback from investors are invaluable for us to steer the Group's development along the right direction. 我們相信與投資者積極溝通對本集團的長遠發展至關重要。除處理電子郵件及來電查詢外,管理層亦參加各種投資者會議,以便親自向機構及國際投資者回答及闡述本集團的發展戰略。投資者的建議及反饋對我們引領本集團沿著正確軌道發展而言十分寶貴。
Customers 客戶	The Group strives to improve its business performance and meet customers' expectations, and customers may propose opinions or lodge complaints through telephone hotlines or e-mails at any time. 本集團著力提高業務表現及滿足客戶的期望,客戶可以隨時透過電話熱線或電郵反映意見或投訴。
Employees 員工	We always encourage employees to express their opinions to the management to help the Group improve the working environment and operational standards. The management will heed their opinions earnestly as the basis for creating a more amiable and efficient workplace. 我們一直鼓勵員工向管理層表達意見,此有助於本集團改善工作環境及運營標準。管理層將認真對待彼等的意見,以此作為建立更加友好且高效的工作環境的基礎。

STAKEHOLDERS ENGAGEMENT AND MATERIALITY ASSESSMENT (continued)

As there were no significant changes in our business performance in the 2022/23 financial year as compared with the 2021/22 financial year, the material issues remained substantially applicable for the 2021/22 financial year. The materiality assessment of stakeholders was carried out in the following steps with reference to the Environmental, Social and Governance Reporting Guide of the Stock Exchange. Internal and external stakeholders were invited in the survey to rate different issues in the fields of environmental protection, employment and labour practices, operational practices and community investment, so as to understand how much the stakeholders are concerned about each issue.

持份者參與及重要性評估(續)

由於我們在二零二二╱二三的財政年度的業務表現與二零二一╱二二的財政年度相較並沒有重大變化,因此二零二一╱二二的財政年度相關重要議題仍然大致適用。本集團的持份者重要性評估參照香港交易所《環境、社會及管治報告指引》並按以下的步驟進行。問卷調查邀請內、外部持份者對環境保護、僱傭及勞工常規、營運慣例、社區投資範疇中不同議題進行評分,瞭解持份者對各項議題的關注程度。

STAKEHOLDERS ENGAGEMENT AND MATERIALITY ASSESSMENT (continued)

Based on the results of the survey, we conducted materiality analysis and identified the following material issues. As to the material issues identified in the assessment, the Group has taken corresponding measures, which are elaborated in subsequent chapters. The Group will continue to strive to establish diversified, transparent, honest and accurate communication channels as ever to provide an important basis for the Group's ESG strategies.

持份者參與及重要性評估(續)

我們根據問卷調查結果進行了重要性分析,識別出的實質性議題如下。就評估所識別出的重要性議題,本集團已採取相應舉措,並在後續章節中作出詳細闡述。一如既往,本集團將繼續致力建立多元化、透明、誠信及準確的溝通渠道,為本集團的環境、社會及管治策略提供重要依據。

ESG issues	ESG議題	ESG issues	ESG議題

Exhaust emissions	廢氣排放	Talent management and development 人才管理及發展
Greenhouse gas emissions	溫室氣體排放	Procurement and supply chain management	採購與供應鏈管理
Management of waste and recycled materials	廢棄物及回收物料管理	Product quality	產質量量
Energy management	能源管理	Management and commitment of product safety	產品安全的管理及承諾
Water management	用水管理	Product innovation	產品創新
		Customer service	客戶服務
Environment and natural resources	環境及天然資源	Information security and personal data protection	信息安全及個人資料保護
Climate change	氣候變化	Intellectual property rights protection	保障知識產權
Employee benefits and welfare	員工福利及待遇	Corporate governance and risk management	企業管治及風險管理
Equal opportunities	平等機會	Anti-competition	反競爭行為
Health and safety	健康與安全	Community engagement	小區參與

A. ENVIRONMENTAL

1. Exhaust Emissions and Greenhouse Gas Emissions

As a responsible enterprise, the Group makes every endeavor to take effective measures to reduce exhaust and greenhouse gas emissions, and fulfill its on-going commitments to emission reduction. As the Group is principally engaged in internet advertising agency services, such businesses do not have a lot of discharges to air, water or land.

The Group has complied with the requirements of relevant environmental protection laws, such as the "Environmental Protection Law of the People's Republic of China" and the "Environmental Impact Assessment Law of the People's Republic of China" to mitigate the impact of the Group's daily operations as much as possible. No incident of non-compliance was identified during the reporting period. The Group has only one commercial vehicle, which is also the Group's main source of exhaust emissions. The Group's use in 2022/23 is similar to that of 2021/22 and hence vehicle emissions in 2022/23 are similar to those in 2021/22. The Group's exhaust pollutant emissions during the reporting period are as follows:

A. 環境

1. 廢氣排放及溫室氣體排放

本集團作為負責任的企業,我們作出一切努力,積極採取有效的減少廢氣排放及溫室氣體的行動,以及實現對減少排放方面的持續承諾。鑒於本集團主要從事互聯網廣告代理業務,這些業務並無大量對空氣、水或土地的排放物。

本集團已遵守相關的環保法例,包括《中華人民共和國環境保護法》及《中華人民共和國環境影響評價法》的規定以盡量減少本集團日常運營帶來的影響,報告期內並未有違規的情況。本集團只有一輛商務車輛, 亦是本集團的主要廢氣排放來源。本集團於2022/23年的使用況與 2021/22年相若,故此2022/23年度的車排放與2021/22年度相似。本集團在報告期內的廢氣污染物排放量如下:

		Exhaust pollutant emissions 廢氣污染物排放量
Type of exhaust pollutant 廢氣污染物類別	Unit 單位	2021/22 二零二一╱二二年	2022/23 二零二二╱二三年
Nitrogen oxides (NOx) 氮氧化物(NOx)	kg 千克	0.000896	0.000896
Sulfur oxides (SOx) 硫氧化物(SOx)	kg 千克	0.024696	0.024696
Particulate Matter (PM) 顆粒物(PM)	kg 千克	0.000066	0.000066
Note:		附註:

— The calculations were based on the Reporting Guidance on Environmental KPIs issued by the Stock Exchange

— 計算乃基於聯交所發佈的環境關鍵績效指標報告指引

A. ENVIRONMENTAL (continued)

1. Exhaust Emissions and Greenhouse Gas Emissions (continued)

Proactively responding to China's low-carbon economy development policy, the Group carried out the quantification process with reference to international standards such as ISO14064 and other greenhouse gas accounting systems. The Group also takes different approaches to manage and reduce greenhouse gas emissions, and has implemented an array of policies, including conducting business operations in electronic means as much as possible to reduce paper consumption and avoiding the use of disposable products. The Group will continue to assess, record and disclose greenhouse gas emissions and other environmental data on an annual basis, which will help to formulate further emission reduction targets in the future.

The Group is also concerned about carbon emissions from business travels and transportation, and has actively implemented a range of measures, including giving priority to local supplies, managing vehicle use centrally, and leveraging modern communication tools to connect with business partners. The Group generates greenhouse gas emissions in office operations, including electricity purchased for daily operations. Given that the Shanghai Office was relocated from a standalone building to a commercial office building during the reporting period, the total floor area and number of office personnel were reduced, resulting in a decrease in electricity consumption demand which in turn led to a decrease in greenhouse gases.

A. 環境(續)

1. 廢氣排放及溫室氣體排放(續)

本集團積極響應國家低碳經濟發展的發展方針,我們在量化的過程參考ISO14064等溫室氣體核算體系等國際標準而進行。本集團亦循不同途徑管理及減少溫室氣體排放,並已實施不同政策,包括將業務運作盡可能電子化,以減少使用紙張, 亦避免使用一次性產品。本集團將繼續評估、記錄及每年披露溫室氣體排放及其他環境數據,有助日後進一步制定減排目標。

本集團亦關注差旅及交通運輸帶來的碳排放並積極推行多項措施,包括優先選用本地供應商、集中管理車輛使用、以及善用現代化通訊工具與業務夥伴進行溝通。本集團的溫室氣體排放來自辦公室營運,當中包括日常營運所購買的電力。由於本報告期上海辦公室由獨幢樓房遷移到商業辦工樓,整體樓面面積減少,辦公人員亦減少,故此用電量需求下降,從而溫室氣體亦下降。

A. ENVIRONMENTAL (continued)

A. 環境(續)

1. Exhaust Emissions and Greenhouse Gas Emissions (continued)

The Group's greenhouse gas emissions during the reporting period are as follows:

於報告期內本集團在報告期內的溫室氣體排放量如下:

廢氣排放及溫室氣體排放(續)

		Greenhouse gas emissions 溫室氣體排放量
Greenhouse gas emissions type 溫室氣體排放類別	Unit 單位	2021/22 二零二一╱二二年	2022/23 二零二二╱二三年
Total greenhouse gas emissions intensity 總溫室氣體排放密度	tonnes of carbon dioxide equivalent/employee 公噸二氧化碳當量╱ 每名員工	2.23	1.09
Total greenhouse gas emissions 總溫室氣體排放量	tonnes of carbon dioxide equivalent 公噸二氧化碳當量	73.81	13.13
Direct emissions (scope 1) 直接排放(範圍1)	tonnes of carbon dioxide equivalent 公噸二氧化碳當量	4.18	8.18
Indirect energy emissions (scope 2) 能源間接排放(範圍2)	tonnes of carbon dioxide equivalent 公噸二氧化碳當量	69.64	4.95
Other indirect emissions (scope 3) 其他間接排放(範圍三3)	tonnes of carbon dioxide equivalent 公噸二氧化碳當量	0.00	0.00
Notes:		附註:
The calculations were based on the Reporting Guidance on Environmental KPIs issued by the Stock Exchange, 2006 IPCC Guidelines for National Greenhouse Gas Inventories, IPCC Fifth		計算乃基於聯交所發佈的環境關鍵績效指標報告指引、二零零六年IPCC國家溫室氣體清單指南、IPCC第五次評估報告、《2022年全國電

— The Group did not generate direct energy emissions in scope 1 during the reporting period, and scope 2 included indirect energy emissions from purchased electricity.

Assessment Report, and Average Emission Factors of Nationwide

Grids in 2022.

— 範圍1本集團在報告期內並沒有直接能源排放;以及範圍2包括購買電力的能源間接排放。

網平均排放因子》

A. ENVIRONMENTAL (continued)

Exhaust Emissions and Greenhouse Gas Emissions (continued)

Waste Management

The Group attaches great importance to the management of solid waste, and we implement waste management strategies to reduce the impact from disposal of hazardous and non-hazardous waste on the environment. The Group undertakes to put into practice the storage, cleaning, transportation and disposal of waste and to keep the environment clean and sanitary. In respect of non-hazardous waste generated in offices, the Group advocates reducing the generation of solid waste and encourages employees to develop good habits of recycling waste, so as to get twice the result in environmental protection with half the effort. We have put in place paper recycling bins next to photocopiers in our offices, in the hope that employees will work together to recycle waste paper. After the toner cartridges of photocopiers run out of toner, we will commission a recycler to recycle them. The Group operates mainly via general clerical work, and based on such nature of business, during the reporting period, the Group did not generate a large amount of hazardous waste, and the main nonhazardous waste generated was paper. During the reporting period, the Group consumed approximately 37.5 kg of paper (2021/22: 65 kg) while recycling approximately 37.5 kg of waste paper. In order to reduce the use of paper, the Group proactively encourages employees to put into practice doublesided printing and reuse all paper printed on one side for printing non-legal and ordinary company documents.

The Group strictly complies with the relevant legal requirements related to waste treatment, including the Pollution Control Standard for Hazardous Wastes Incineration of the People's Republic of China, Standard for Pollution Control on Hazardous Waste Storage of the People's Republic of China and Standard for Pollution Control on the Hazardous Waste Landfill of the People's Republic of China.

A. 環境(續)

1. 廢氣排放及溫室氣體排放(續)

廢棄物管理

本集團非常重視固體廢物方面的管理,我們實施廢棄物管理策略,以減低處置有害及無害廢棄物對環境的影響。本集團承諾實踐廢棄物的儲存、清理、運輸及處理工作,保持環境清潔衛生。針對辦公室產生之無害廢棄物,本集團主張減少固體廢棄物的產生,並讓員工養成良好習慣去回收廢物,使本集團推動環保的工作事半功倍。本集團的辦公室在影印機旁均設有廢紙回收箱,以此希望員工們群策群力,回收廢紙。影印機的碳粉盒在碳粉耗盡後,本集團亦會委託相關回收商進行回收。本集團的主要以一般文書進行營運,而基於業務特性,於報告期內,本集團並沒有產生大量有害廢棄物,而所產生的主要無害廢棄物為紙張,而在本報告期的用紙量約為37.5公斤(2021/22年度:65公斤), 而廢紙回收的數量約為37.5公斤。我們為減少使用紙張,積極鼓勵員工雙面列印,並重覆使用所有已單面列印的紙張列印非法定及普通公司文件。

本集團嚴格遵行相關的廢棄物處理法例,包括中華人民共和國危險廢物焚燒污染控制標準、中華人民共和國危險廢物貯存污染控制標準及中華人民共和國危險廢物填埋污染控制標準的規定。

A. ENVIRONMENTAL (continued)

2. Use of Resources

As a member of the global village, the Group is committed to protecting resources to achieve environmental and operational benefits. In order to fulfil the Group's environmental commitment, we have implemented various measures to improve energy efficiency and reduce paper and water consumption. By monitoring and managing the use of resources, the Group aims to reduce operating costs and carbon footprint.

Electricity Management

We advocate the use of energy-saving, efficient and environmentally-friendly construction equipment, machinery and office appliances recommended by the state and industry, and give priority to relevant equipment aiming at gradually improving energy efficiency. Total energy consumption decreased as a result of the reduction in gasoline consumption and electricity consumption of vehicles. The Group's total energy consumption during the reporting period are as follows:

A. 環境(續)

2. 資源使用

身為地球村的一分子,本集團致力保護資源以達致環保及營運效益。為履行本集團的環保承諾,我們一直以來制定多項措施提升能源效益、減少用紙量和用水量。通過積極監察及管理資源使用,以降低營運成本及碳足跡。

用電管理

我們提倡使用國家、行業推薦的節能、高效、環保的施工設備、機具和辦公用具,以逐步提高能源效益為目標優先考慮相關設備。由於車輛的汽油用量及用電量減少,故此總能源耗量下降。本集團在報告期內產生的總能源耗量如下:

			Energy consumption 能源耗量
Energy type 能源種類	Unit 單位		2021/22 二零二一╱二二年	2022/23 二零二二╱二三年
Total energy consumption 總能源耗量	kWh 千瓦時		136,956.42	41,352
Total energy consumption intensity (in terms of output of	kWh/number of employees		4,119.89	3446.02
finished products) 總耗能密度(以製成品產值計算)	千瓦時╱員工人數
Direct energy consumption 直接能源耗量	kWh 千瓦時		17,097.42	32,668.53
Indirect energy consumption (electricity)	kWh		119,859	8,685
間接能源耗量(電力)	千瓦時
Note:		附註:
— During the reporting period, the Group's direct energy consumption included gasoline and natural gas consumption; and indirect energy consumption included electricity		—	量包括電力耗量	本集團在本報告期內直接能源耗量包括汽油及天然氣的耗量;而及間接能源耗

consumption.

A. ENVIRONMENTAL (continued)

2. Use of Resources (continued)

Water Management

The Group understands that precious water resources are crucial to the earth and the environment. The water we use mainly comes from municipal pipelines, and there is no difficulty in souring water during operation. The Group actively focuses on the facilitation of water-saving measures. To improve the awareness of saving water, the Group provides tips on saving water for internal sharing. Given that the Shanghai Office was relocated from a standalone building to a commercial office building during the reporting period, the total floor area and number of office personnel were reduced, resulting in a decrease in total water consumption during the reporting period. Water consumption by the Group during the reporting period is as follows:

A. 環境(續)

2. 資源使用(續)

用水管理

本集團深明珍貴水源對地球及環境的重要性。我們所使用的水源主要來自市政管道,在營運過程中並沒有取水的困難。本集團積極著重於促進節約用水措施,為提高節約用水的意識,例如:本集團提供有關節約用水之小建議,在內部互相分享。由於本報告期上海辦公室由獨幢樓房遷移到商業辦工樓,整體樓面面積減少,辦公人員亦減少,故此本報告期內的總耗水量下降。本集團的在報告期內的用水量如下:

			Water consumption 耗水量
Water consumption 耗水量	Unit 單位	2021/22 二零二一╱二二年	2022/23 二零二二╱二三年
Total water consumption intensity 總耗水量密度	m3 /employee 立方米╱每名員工	15.82	0.28
Total water consumption 總耗水量	m3 立方米	522	3.33

A. ENVIRONMENTAL (continued)

3. Environment and Natural Resources

The Group strives to reduce any negative impact on the environment. The Group is committed to implementing control measures for energy consumption and office resources consumption. Given its business nature and activities, the Group has insignificant impact on the environment and natural resources. Our energy consumption mainly comes from electricity used in offices. During the reporting period, the Group had developed a series of measures to reduce resource use and properly dispose of waste (see "2. Use of Resources" above for details).

4. Climate Change

The business scope of the Group covers the business operations in the PRC. As such, the Group has identified and assessed the risks of climate change and developed measures to safeguard the safety of its employees, including strictly complying with relevant extreme weather guidelines issued by the government. The Group has worked out emergency guidelines and measures to reduce damage from disaster attacks in the future. The Group will review its policies for climate change on a regular basis to ensure their effectiveness.

A. 環境(續)

3. 環境及自然資源

本集團致力於減少對環境之任何負面影響。本集團堅持承諾,實行能源消耗及辦公室資源消耗控制措施。鑒於業務性質及活動,本集團對環境及自然資源所造成的影響並不重大。能源消耗主要來自辦公室的一般用電。於報告期內,本集團已制定了一系列的措施以減少資源使用及妥善處置廢棄物(詳情請參閱上文「2.資源使用」)。

4. 氣候變化

本集團業務範疇包括中國的營運業務。據此,本集團已識別並評估氣候轉變風險,並制定措施以保障員工的安全,包括嚴格遵循政府發佈的相關極端天氣指引。本集團已制定應急指引和措施,以減少日後受到災害侵襲的破壞。本集團會定期檢討氣候轉變政策,致力確保成效。

B. SOCIAL

1. Employment and Labour Practices

The Group believes that happy and motivated employees are important factors to achieve continuous success. Therefore, the Group respects the personal freedom of employees, establishes and embraces multiculturalism, resolutely eradicates discrimination, respects the personal freedom of employees and protects their personal privacy.

(a) Recruitment, Promotion and Equal Opportunity Policies

The Group strives to adopt fair recruitment and promotion policies and prohibits the sabotage of equal job opportunities or unfair treatment. Therefore, the Group strictly implements antidiscrimination policies and does not tolerate any forms of harassment. The Group has formulated the "Anti-discrimination Policy" and recruitment procedures to ensure that recruitment, promotion, compensation and benefits, and talent cultivation are based on education level, experience and ability and there will be no discrimination, exclusion, preferential treatment or any other infringement of equity rights and benefits due to gender, age, race, religion, etc., ensuring that all employees and job applicants will be treated fairly.

As to the promotion of employees, considering employees' development needs and career planning, the Group has established a performance assessment system and promotion mechanism integrating training , use and evaluation of personnel, thereby building a sound career platform for employees and creating a virtuous cycle of personnel cultivation, use and selection, which in turn lays a sound foundation and provides sufficient motivation for the sustainable development of the Group and the self-growth of employees. In addition, the Group has also introduced a new system of employee performance assessment and self-evaluation in stages, which can comprehensively evaluate the performance of employees and promote them.

B. 社會

1. 僱傭與勞工常規

本集團相信愉快積極之員工為持續取得成功之重要因素。因此,本集團尊重員工的個人自由,建立及包融多元文化,絕不容忍姑息任何歧視,尊重員工的個人自由,保護員工個人私隱。

(a) 招聘、晉升及平等機會政策

本集團致力於採納公平之招聘及晉升政策,禁止破壞平等就業機會或不公平待遇。因此, 本集團嚴格執行反歧視政策, 絕不容忍任何形式的騷擾。本集團制定了「反歧視書面政策」及招聘程序,確保在招聘、晉升、薪酬福利及人才培育等方面均以學歷、經驗及能力為導向, 不會因性別、年齡、種族、宗教等背景而出現區別對待、排斥或者給予優惠等任何違反平等權益的措施,確保所有僱員及職位申請者都獲得公平待遇。

有關員工晉升方面,本集團持續關注員工的發展訴求和職業規劃, 建立了人才培訓、使用、評價一體化的考核評價體系和晉升機制,為員工搭建良好的職業發展平台,實現人才培養、使用和選拔的良性循環,進而為本集團的可持續發展和員工的自我成長奠定堅實的基礎和充足的動力。另外, 本集團亦分階段全面推行嶄新的員工表現評估及自我審核制度,有助全面地評估員工的工作表現並晉升員工。

B. SOCIAL (continued)

1. Employment and Labour Practices (continued)

(b) Compensation System

The Group implements the fair compensation policy, affirming employees' contribution in an objective way. The Group fully considers growing employee compensation in tandem with the Group's performance, in an effort to ensure that employees are rewarded fairly based on their contribution. The Group reviews and re-adjusts its compensation mechanism annually to maintain its competitiveness.

In addition, the Group has formulated the "Management System for Employee Dismissal and Retirement", pursuant to which employees who do not meet the relevant job requirements or have serious dereliction of duty, or those who have seriously violated national laws and regulations or the Group's relevant rules and regulations, will be dismissed. The Group will fully communicate with the dismissed employees, avoid compulsory dismissal and illegal dismissal, and ensure that the dismissal process is fully in compliance with the relevant legal provisions.

B. 社會(續)

僱傭與勞工常規(續)

(b) 薪酬體系

本集團實行公平薪酬政策,客觀地肯定僱員之貢獻。本集團充分考慮員工薪酬可以與本集團業績同步增長,確保員工能夠公平的獲得價值並按貢獻程度分享價值。本集團為薪酬機制每年行檢討及重新調整,以維持競爭力。

此外,本集團制定了《員工離職、退休管理制度》,對於不符合本集團崗位要求的員工,或存在嚴重失職、嚴重違反國家法律法規或嚴重違反本集團相應規章制度的員工,本集團採取優勝略汰的僱傭政策。本集團會充分與解僱的員工進行溝通,避免強制解除、違規解除等現象,並確保解僱流程完全符合法律規定的內容。

B. SOCIAL (continued)

1. Employment and Labour Practices (continued)

(c) Retaining Talents

The Group strives to create a healthy and safe work culture, assist employees to develop potential through training and development courses, and invest in retaining and nurturing talents. The Group values employee development, and employees will be promoted and rewarded after passing phased assessment.

The Group has always strictly complied with relevant policies and guidelines regarding equal employment opportunities, child labour, forced labour and employment, including the "Provisions on the Prohibition of Using Child Labour", "Provisions on Special Protection for Minor Workers", the "Labour Law of the People's Republic of China" and the "Labour Contract Law of the People's Republic of China". During the reporting period, the Group did not have any cases of violation of relevant employment laws and regulations, nor did it receive any complaints related to recruitment.

The Group strictly abides by the relevant laws and regulations on remuneration and dismissal, recruitment and promotion, working hours, holidays, equal opportunities, diversity, antidiscrimination and other benefits, such as the "Labour Law of the People's Republic of China" and the "Labour Contract Law of the People's Republic of China". No case of violation was identified during the period.

B. 社會(續)

僱傭與勞工常規(續)

(c) 保留人才

本集團致力於營造健康及安全的工作文化,透過培訓及發展課程協助僱員發揮潛能,投資於挽留及培養人才。本集團重視僱員發展,員工通過階段性的考核可進行晉升嘉獎。

本集團一直嚴格遵守有關平等就業機會、童工、強制勞動及僱傭相關政策及指引,包括《禁止使用童工規定》、《未成年工特殊保護規定》、《中華人民共和國勞動法》及《中華人民共和國勞動合同法》等。於報告期內,並無違反相關的僱傭法律及法規的個案,亦無與招聘相關的投訴個案。

本集團嚴格遵守有關薪酬及解僱、招聘及晉升、工作時數、假期、平等機會、多元化、反歧視以及其他待遇及福利的相關法律及規例,例如《中華人民共和國勞動法》及《中華人民共和國勞動合同法》,期內並未有違規情況。

B. SOCIAL (continued) 1. Employment and Labour Practices (continued) (c) Retaining Talents (continued) The number of employees of the Group classified by different categories is as follows: B. 社會(續) 1. 僱傭與勞工常規(續) (c) 保留人才(續) 本集團按不同類別劃分的僱員人數如下: Total number of employees (person)

Category	分類	僱員總數(人)
By gender Male Female	按性別劃分男性女性	7 5
By employment type Full-time	按僱傭類型劃分全職	12
By age groups 15–24 25–34 35–44 45–54 55–64 65 or above	按年齡組別劃分 15–24歲 25–34歲 35–44歲 45–54歲 55–64歲 65歲或以上	1 4 2 5 0 0
By geographical region China Others	按地區劃分中國其他	12 0

		SOCIAL (continued)		社會(續)
1.		Employment and Labour Practices (continued)	1.		僱傭與勞工常規(續)
	(c)	Retaining Talents (continued)		(c)	保留人才(續)
		The employee turnover rate of the Group classified by different categories is as follows:			本集團按不同類別劃分的僱員流失比率如下:
					Average monthly

Category	分類		employee turnover rate (%) 每月平均僱員流失比率(%)

By gender	按性別劃分
Male	男性		2.38%
Female	女性		3.33%
By age groups	按年齡組別劃分
15–24	15–24歲		0.00%
25–34	25–34歲		4.17%
35–44	35–44歲		4.17%
45–54	45–54歲		1.67%
55–64	55–64歲		0%
65 or above	65歲或以上
By geographical region	按地區劃分
China	中國		2.78%
Others	其他		0%
Note:		附註:
— The calculation was based on the Reporting Guidance on Social KPIs issued by the Stock Exchange.		—	計算乃基於聯交所發佈的社會關鍵績效指標匯報指引

B. SOCIAL (continued)

2. Health and Safety

The Group strives to provide a safe work environment, and all employees will get assistance from the Group to succeed and make full use of their potential. In addition, the Group strictly complies with relevant laws and regulations on occupational health and safety, and has implemented practical safety management to effectively eliminate potential safety risks.

The Group has formulated a number of policies on occupational health and safety, including:

Personal Health

• Provide health examination annually; and
• Demand the management company to clean the air-conditioner system seasonally.

Work Safety

• Promote effective communication between staff and supervisors to form a sound safety culture;
• Give daily safety guidance and supervision;
• Provide adequate and neat sanitary facilities;
• Develop a management system with procedures for employee to voice opinions and file complaints effectively; and
• Equip employees exposed to occupational hazards with appropriate personal protective equipment.

Fire Safety

• Demand the management company to check the fire exits frequently; and perform fire drill every year.

B. 社會(續)

2. 健康與安全

本集團致力提供安全之工作環境, 全體員工均得到支援邁向成功,並可盡展潛能。此外,本集團嚴格遵行有關職業健康及安全之法律及法規,並已實行實際安全管理以有效消除潛在安全風險。

本集團制定了多項有關職業健康與安全的政策,包括:

個人健康

每年提供一次健康檢查;及
要求管理公司每季清洗一次空調系統。

工作安全

促進員工與主管之間進行有效的溝通,形成良好的安全文化氛圍;
日常安全指導和監管;
提供足夠和整潔的衛生設施;
制定了員工意見與投訴程序的管理系統,能有效地反映員工意見和投訴;及
為可能遇到職業性危害的員工配備適當的個人防護裝備。

消防安全

• 要求管理公司時常整理火災逃生出口;及每年進行消防演習。

B. SOCIAL (continued)

2. Health and Safety (continued)

During the Year, the Group adopted a series of prevention and control measures in response to the COVID-19 pandemic. According to the suggestions of local government departments, the Group provided anti-pandemic supplies for employees, set up access control and assigned special personnel to provide training on disinfection operation procedures and pandemic prevention and control measures, so as to improve the capacity of pandemic prevention and control and emergency response. The Group closely monitored the development of the pandemic and evaluated its adverse impacts on our business and all employees, complied with and implemented a series of measures of the government for combating the pandemic, so as to effectively eliminate potential safety risks.

The Group strictly abides by the relevant laws and regulations on providing a safe working environment and protecting employees from occupational hazards, such as the "Safety Law" and the "Law of the People's Republic of China on the Prevention and Control of Occupational Diseases", and there was no case of violation during the period. In addition, over the past three reporting periods (2020/21, 2021/22 and 2022/23), the Group did not record any work-related fatalities or lost working days due to work-related injuries.

B. 社會(續)

2. 健康與安全(續)

年內本集團因應COVID-19大流行採取了一系列的防控措施。參考當地政府部門建議為員工提供防疫用品, 安排出入管控及專人進行消毒操作規程和疫情防控措施的培訓,以提升疫情防控和應急處置能力。本集團密切監察突發傳染病發展及評估其對業務全體員工產生的負面影響, 配合及實施政府一系列遏制突發傳染病的措施,以有效消除潛在安全風險。

本集團嚴格遵守有關提供安全工作環境及保障僱員避免職業性危害的相關法律及規例,例如《安全法》、《中華人民共和國職業病防治法》, 期內並未有違規情況。此外,本集團在過去三個報告期內(2020/21、 2021/22及2022/23)並無任何因工作而死亡及因工傷損失工作日數的情況。

B. SOCIAL (continued)

3. Employee Training

The Company firmly believes that discovering and nurturing a talent team is crucial to the sustainable development of an enterprise. The Group has developed "Personnel Training and Development Policies" to provide induction training for all new employees and arrange for experienced technicians to guide new employees.

In addition, the Group always hosted various internal training courses, lectures and seminars for employees in the past, providing opportunities for employees to learn knowledge and develop skills during individual and professional training, so as to enhance their capabilities. The Group regularly arranged for the directors of the Company to participate in training in relation to equity fundraising rules, corporate governance code, review of provisions of the Listing Rules on corporate governance code and provisions of the Listing Rules on disciplinary powers and sanctions, and annual review report.

The percentage of employees trained of the Group classified by different categories and the average training hours completed by each employee are as follows:

B. 社會(續)

3. 員工培訓

本集團堅信發掘人才及培養人才團隊為企業之可持續發展之關鍵。本集團制定了《員工培訓及個人發展政策》,讓所有新入職員工進行入職培訓,及安排有經驗的技工指導新員工。

此外,本集團過去一直為員工舉辦不同的內部培訓課程、講座及研討會,為僱員提供機會於個人及專業培訓中獲取知識及培養技能,以提升其能力。本集會定期組織公司董事參與關於股本集資規則、企業管制守則、檢討企業管理守則相關上市規則條文、上市規則有關紀律處分權力及制裁條文和年度審查報告的培訓。

集團按不同類別劃分的受訓僱員百分比及每名僱員完成受訓的平均時數如下:

Category	分類	As a percentage of employees trained (%) 佔受訓僱員百分比(%)	Average training hours completed by each employee (hour) 每名僱員完成受訓的平均時數(小時)

By gender	按性別劃分男性
Male Female	女性	29% 71%	2.14 3.00

By employee type	按僱員類別劃分
Senior management	高級管理層	29%	5.00
Mid-level management	中級管理層	43%	3.75
Supervisors	主管	29%	5.00
General staff	一般員工	0%	0.00
Note:		附註:
— The calculation was based on the Reporting Guidance on Social KPIs issued by the Stock Exchange.		— 指標匯報指引	計算乃基於聯交所發佈的社會關鍵績效

B. SOCIAL (continued)

4. Labour Standards

(a) Prohibition of Child Labour and Forced Labour

During the reporting period, the Group fully complied with relevant laws and regulations on prohibition of child labour and forced labour. The Group has formulated the "Policy on Prohibition of Child Labour" and stringent employment age verification procedures, ensuring that all accepted applicants are compliant with legally required employment age. In order to prevent child labour from being mistakenly employed, the Group has established a rigorous employment age verification process to ensure that all job applicants reach the legal working age.

In addition, the Group has formulated the "Policy and Procedures on Prohibition of Forced Labour" to prevent any situations such as violent threat or illegal restriction of individual freedom during its operations and services, and strictly prohibited forced labour including corporal punishment, abuse, involuntary servitude, debt servitude or human trafficking. In addition, the Group has set up employee opinion boxes to allow employees to report on child labour and forced labour, so as to prevent illegal employment of child labour or forced labour by the Group.

Moreover, the Group has set up a whistleblowing mechanism against child labour and forced labour to encourage employees to truthfully report any suspicious cases. If child labour and forced labour is identified, we will immediately investigate the causes to ensure that no employees work overtime involuntarily.

B. 社會(續)

勞工準則

(a) 禁止使用童工和強迫勞工

於報告期內,本集團完全遵守與防止童工及強迫勞工有關的法律及相關法規。本集團制定了《禁止使用童工政策》及嚴謹的工齡核實程序,確保所有獲聘者均符合法定就業年齡的要求。為了更有效地防止誤聘童工,本集團制定了嚴謹的工齡核實程序,確保所有獲聘者已符合法定就業年齡。

此外,本集團制定了《禁止強迫勞工政策及程序》,防止於任何營運及服務中有以暴力威脅或非法限制人身自由的情況, 並嚴格禁止以體罰、虐待、非自願勞役、債務勞役或人口販運之方式強迫勞動。另外,我們設立了員工意見箱,讓員工可彙報童工及強制勞工的情況,以防止本集團出現非法僱用童工或出現強迫勞動。

此外,本集團設立童工及強制勞工的匯報機制,鼓勵員工如實舉報。如發現童工及強制勞工的情況,我們會立即進行原因調查,確保無員工在非自願的情況下超時工作。

B. SOCIAL (continued)

4. Labour Standards (continued)

(b) Employees' Rights and Interests

The Group has formulated the "Policy on Employees' Freedom of Association". Employees are entitled to freedom of association and collective bargaining. Employees can select staff representatives to communicate and exchange opinions and suggestions with the Group's management representatives on behalf of all employees. Meanwhile, the Group values and pays attention to the information fed back by staff representatives. The Group transmits its latest update to every employee via email from time to time and listens to employees' opinions and suggestions actively, and takes responsive and timely measures to solve the problems which employees concern the most, in order to protect the rights and interests of employees.

B. 社會(續)

勞工準則(續)

(b) 員工權益

本集團制定了《員工自由結社政策》。員工有自由結社和集體談判之權利。員工可選取員工代表,由其代表全體員工與本集團管理層代表進行溝通,相互交換意見及建議。同時,本集團重視、關注員工代表反饋的信息。本集團不時透過電郵將本集團最新動態傳遞給每一位員工,並積極聽取員工的意見與建議,針對員工關注度較高的問題及時採取相應的措施,保障廣大員工的利益。

B. SOCIAL (continued)

4. Labour Standards (continued)

(c) Employee Benefits

The Group strictly complies with the labour laws on work time, rest period and holidays, ensuring the physical and mental health of all employees. Therefore, the Group neither promotes working overtime nor advocates completing unfinished work at home, insisting on improving work efficiency during the work period. The Group believes that offering employees sufficient benefits will help them become more engaged in their work. As such, the Group also holds different levels of activities and reviews the relevant employee welfare policies through a welfare committee. Welfare benefits provided by the Group to employees are as follows:

• Provide social insurance to employees;
• Provide food and beverage allowances;
• Hold monthly birthday parties;
• Arrange flexible working hours for working mothers to better take care of their families;
• Provide additional breastfeeding leave for mother employees; and
• Allow staff to work from home in inclement weather where appropriate.

In addition to providing the basic employee benefits required by law, the Group also provides paid birthday leave and Women's Day paid leave for female employees, so as to enable employees to maintain a work-life balance.

The Group has always strictly complied with relevant laws and regulations on labour standards, including the "Labour Law of the People's Republic of China". During the reporting period, the Group found no incidents in violation of the laws and regulations on labour standards.

B. 社會(續)

勞工準則(續)

(c) 員工福利

本集團亦嚴格遵守有關工作時間、休息及假期的勞工法規, 以確保所有僱員的身心健康。因此,本集團既不宣導加班文化,也不提倡將工作帶回家完成,堅持提高上班期間的工作效率。本集團認為員工擁有充足的福利,將有助他們更投入於工作。因此,亦本集團透過福利委員會會舉辦不同層面的活動,及檢討有關的員工福利政策。以下是本集團為員工提供的福利活動:

向僱員提供社會保險
提供餐飲津貼;
每月舉行生日會;
透過編排彈性上班時間方便在職母親照顧家庭;
為母親員工提供額外的哺乳假;及
准許合適的員工於惡劣天氣時在家工作。

本集團除了提供法定要求的基本員工福利保障外,還額外提供生日帶薪休假、婦女節女性職員帶薪休假等,讓員工更有效管理工作與生活。

本集團一直嚴格遵守有關勞工準則法例及規例,包括《中華人民共和國勞動法》等。於報告期內,本集團並無發現有關勞工準則法例及規例的不合規事件。

B. SOCIAL (continued)

5. Supply Chain Management

The Group lays emphasis on promoting efficient communications and cooperation with business partners to jointly maintain the quality and safety of products and services. The Group firmly believes that the solid business relationship with its suppliers can facilitate long-term business development and growth. The Group has developed a set of well-defined standard procurement management procedures, including standardizing the procedures for evaluating, screening and monitoring suppliers to ensure that the environmental and social risks associated with the supply chain are minimized. Suppliers must go through a series of audit procedures to comprehensively examine their performance in terms of quality, environment and safety before being engaged.

Given the complexity of the supply chain, when selecting suppliers, each business entity of the Group must consider different conditions and standards, including price, service, location, productivity (service capacity) and legal procedures, and the Group will also conduct special consultations and consider the social and environmental performance of suppliers as appropriate. The Group has in place a supplier management mechanism and carries out on-site audit according to the risk profile of suppliers. If suppliers are found to seriously violate their agreed responsibilities and operating procedures, the Group will terminate cooperation with them to ensure that the performance in terms of quality, environment and safety along the supply chain is in line with the Group's policy.

During the reporting period, the Group did not work with any active suppliers*.

* Active suppliers are suppliers which provide services with a significant impact on the Group.

B. 社會(續)

5. 供應鏈管理

本集團強調促進與業務夥伴建立良好的溝通與合作關係,協力維護產品與服務的質量和安全。本集團堅信與供應商維持穩固業務,能有助業務的長遠發展和進步。本集團已制定一套清晰的標準採購管理程序, 當中包括規範評估、篩選及監察供應商的程序,確保將供應鏈相關的環境及社會風險減至最低。聘用供應商前,他們必須通過一系列審核程序,全盤審視其品質、環境及安全等表現,合格後方可採用。

鑒於供應鏈的複雜性,本集團各業務單位於選擇供應商時,必須考慮不同的條件及標準,包括價格、服務、地點、生產力(服務能力)及法律程序,同時本集團亦會按情況進行特別諮詢及考慮供應商在社會責任及環境保護等方面的表現。本集團設有供應商管理的機制,根據供應商的風險情況進行現場審核,如發現供應商嚴重違反其約定責任及操作規程等內容的情況,將終止其合作關係,以確保供應鏈的品質、環境及安全等表現符合本集團的方針。

於報告期內,本集團並未與任何活躍供應商*合作。

* 活躍供應商指對本集團而言,其提供之服務對本集團存在重大影響之供應商。

B. SOCIAL (continued)

6. Product Responsibility

The Group is committed to providing quality products and services to customers and focuses on customers' responses to the products sold by the Group. In addition to adhering to its undertakings, the Group is also dedicated to providing value-added internet advertising agency services for customers with competitive prices. Customers can offer their opinions or lodge complaints through existing communication channels. The Group will conduct investigations and prepare reports based on the responses and take corrective measures when necessary. The Group has formulated strict policies and procedures in manufacturing and selling products.

(a) Customer Service Policy

The Group has established the customer service department, dedicating to offering superior services for customers. The Group values the communication with customers and strives to ensure that customers' opinions and complaints will receive timely handling and satisfactory responses. The Group has formulated strict product complaint procedures to better understand the customers' opinions on the Group's services, so as to continue to improve operation procedures and service quality and enhance customers' satisfaction.

B. 社會(續)

6. 產品責任

本集團致力向客戶提供優質產品及服務,及關注客戶對本集團所售產品之回應。本集團除秉持承諾外, 亦矢志竭誠以具競爭力之價格為客戶提供高增值之互聯網廣告代理服務。客戶可透過既有通訊渠道發表意見或投訴。本集團會根據回應進行調查及建立報告,並在有需要時採取改正措施。本集團已就生產及出售產品制定嚴謹的政策及程序。

(a) 客戶服務政策

本集團已建立客戶服務部門, 致力為客戶提供卓越服務。本集團重視與客戶的溝通,致力確保客戶的意見及投訴得到適時處理和滿意答覆。本集團已制定了嚴格的產品投訴程序, 以更好地瞭解客戶對本集團服務的意見,以持續改善營運流程及服務質素及提高客戶滿意度。

B. SOCIAL (continued)

6. Product Responsibility (continued)

(b) Customer Data Protection and Intellectual Property Policy

The Group considers customer data as the safeguard for safe operation of an enterprise and healthy development of customer relationships. Accordingly, the Group formulates sound customer data protection management systems. In the process of collecting, processing and using customers' personal data or procurement (including but not limited to loan contracts), such information is kept in a strictly guarded safe of the Group, and only personnel with relevant clearance can access such information. In addition, the Group has formulated regulations on safeguarding and protecting intellectual property, including using authorised products, photo management, sample control, product control, artwork and data record. Each project has relevant regulations in place to prevent leakage of the intellectual property of the Group's customers.

The Group strictly abides by the laws and regulations on product health and safety, advertising, labeling, remedies and protection of intellectual property rights, and also observes the laws and regulations related to privacy, such as the "Product Quality Law of the People's Republic of China". There was no case of violation during the period.

B. 社會(續)

6. 產品責任(續)

(b) 客戶資料保護和知識產權政策

本集團視客戶資料為企業安全經營、客戶關係健康發展的保障。據此,本集團制定完善的客戶資料保密管理制度。於收集、處理及使用客戶之個人資料或採購(包括但不限於借款合約)的過程中,該等資料均存放於本集團保安嚴密的保險箱之中,而僅擁有相關權限之人員方可取閱相關資料。此外, 本集團已制定有關保障及保護知識產權的規定,包括使用正版產品、相片管理、樣本控制、產品控制、工藝品及資料記錄。各項目均設有相關規定以避免本集團客戶的知識產權外洩。

本集團嚴格遵守有關產品的健康與安全、廣告、標籤、補救方法以及保障知識產權的相關法律及規例,同時遵守有關私隱事宜的相關法律及規例,例如《中華人民共和國產品質量法》,我們期內並未有違規情況。

B. SOCIAL (continued)

7. Anti-Corruption

Honesty and fairness are important assets of the Group's business. The Group endeavours to maintain a high level of the ethical corporate culture. By developing a sound risk management code and internal control code, the Group sends anti-corruption training rules and relevant documents to all employees via email on an annual basis, hoping to ensure that all employees comply with the Group's rules in daily operations by providing integrity training.

The Group has established and implemented an internal integrity system to strengthen the integrity of the employees in governance practices. The Group has set up effective whistle-blowing procedures to encourage employees, the management team and directors to report any misconduct and dishonest behaviour, such as corruption, fraud and other offences. Furthermore, the Group has provided clear guidelines against misconduct such as bribery, corruption, embezzlement, insider trading and theft of the Group's assets, to ensure that employees can report matters of concern to our human resources department through various channels in a confidential manner. Where a case of misconduct is found to be true upon investigation, the Group will take appropriate corrective measures and disciplinary action against those involved. In the event of a criminal offence, the Group will report the case to the competent authority. In addition, the Group engages a third-party agency to audit its internal financials each year.

During the reporting period, the Group complied with the provisions on prohibiting corruption and bribery under the "Criminal Law of the People's Republic of China" as well as any legal provisions and requirements for listed companies in Hong Kong, and was not involved in any legal prosecution of corruption.

B. 社會(續)

7. 反貪污

信實公平乃本集團業務之重要資產。本集團絕致力維持高水平的道德企業文化。透過制定完備的風險管理守則及內部控制守則;本集團每年均會透過電郵發送防貪培訓守則及相關文件給全體員工,期望通過提供廉潔培訓,本集團確保所有員工於日常運作中均遵守本集團的規則。

本集團已制定並實施內部廉政制度, 加強員工清正廉潔的管治操守。本集團建立有效舉報程序,鼓勵員工、管理人員和董事舉報任何不當行為和不誠實活動,例如貪污,欺詐, 以及其他犯罪行為。另外,本集團已就有關不當行為,例如賄賂、貪污舞弊、挪用、內幕交易、盜竊本集團資產等行為提供清晰指引,確保其員工可以絕對保密的方式透過不同渠道就其關注的事項向人力資源部報告進行通報。如調查個案屬實,本集團將會採取合適的糾正措施和對涉事人作出紀律處分,倘若事件涉及刑事成分,本集團會轉交有關當局處理。此外,本集團每年均會聘請第三方機構審核內部財務。

於報告期間內,本集團已遵守中華人民共和國刑法有關禁止腐敗及賄賂的規定以及於香港上市公司的任何法律規定及要求,且沒有涉及關於貪污的法律檢控案件。

B. SOCIAL (continued)

8. Community Engagement

The Group is well aware of the importance of making positive contributions to the communities in which it operates, and considers the interests of the communities as one of its social responsibilities. We believe enterprises and the community are an indivisible whole because enterprises cannot grow without the support and assistance of the community. To fulfil its social responsibilities in a more comprehensive manner, the Group dedicates itself to participating in community activities and undertakes the responsibility of a good corporate citizen for contributing to the community by encouraging its employees to participate in charitable and social services.

The Group will continue to regularly review the goals and direction of community investment, and supervise community investment, sponsorship and donation activities and approval policies. The Group will review annually whether the social performance of the Group meets the goals of community investment policies and community activities, supervise and enhance team capabilities, and ensure that community investment policies are implemented in all departments.

B. 社會(續)

8. 社區參與

本集團深知對經營所在社區作出積極貢獻的重要性,並將社區的利益視為其社會責任之一。本集團認為企業和社區是不可分割的整體,企業發展同時也離不開社區的支持與幫助。為了更充份履行社會責任, 本集團致力參與社區活動,並透過鼓勵員工參與慈善及社會服務,承擔良好企業公民為社區作出貢獻之責任。

本集團將繼續定期檢討社區投資的目標和方向,並監督社區投資、贊助和捐贈活動及批核政策。本集團又會每年審視本集團的社會表現是否切合社區投資政策和社區活動的目標,監管和優化團隊能力,並確保社區投資政策於各部門實行。

HKEX ESG REPORTING GUIDE INDEX

聯交所《環境、社會及管治報告指引》索引

A	Environment 環境	Section 章節
Aspect A.1 方面A.1	Emissions 排放物	A1
KPI A.1.1 指標A.1.1	The types of emissions and respective emissions data 排放物種類及相關排放數據	A1
KPI A.1.2	Direct (Scope 1) and energy indirect (Scope 2) greenhouse gas emissions (in tonnes) and (where appropriate) intensity (e.g. per unit of production volume, per facility).	A1
指標A.1.2	直接(範圍1)及能源間接(範圍2)溫室氣體排放量(以噸計算)及(如適用) 密度(如以每產量單位、每項設施計算)。
KPI A.1.3	Total hazardous waste produced (in tonnes) and (where appropriate) intensity (e.g. per unit of production volume, per facility).	A1
指標A.1.3	所產生有害廢棄物總量(以噸計算)及(如適用)密度(如以每產量單位、每項設施計算)。
KPI A.1.4	Total non-hazardous waste produced (in tonnes) and (where appropriate) intensity (e.g. per unit of production volume, per facility).	A1
指標A.1.4	所產生無害廢棄物總量(以噸計算)及(如適用)密度(如以每產量單位、每項設施計算)。
KPI A.1.5	Description of the emission targets set and the steps taken to reach these targets.	A1
指標A.1.5 KPI A.1.6	描述所訂立的排放量目標及為達到這些目標所採取的步驟。 Description of the methods to handle hazardous and non-hazardous waste, and the description of the waste reduction targets set and the steps taken to achieve these targets.	A1
指標A.1.6	描述處理有害及無害廢棄物的方法,及描述所訂立的減廢目標及為達到這些目標所採取的步驟。
Aspect A.2 方面A.2	Use of Resources 資源使用	A2
KPI A.2.1	Direct and/or indirect energy consumption by type (e.g. Electricity, gas or oil) in total (kWh in '000s) and intensity (e.g. per unit of production volume, per facility).	A2
指標A.2.1	按類型劃分的直接及╱或間接能源(如電、氣或油)總耗量(以千個千瓦時計算)及密度(如以每產量單位、每項設施計算)。
KPI A.2.2	Water consumption in total and intensity (e.g. per unit of production volume, per facility).	A2
指標A.2.2 KPI A.2.3	總耗水量及密度(如以每產量單位、每項設施計算)。 Description of the energy efficiency targets set and the steps taken to	A2
指標A.2.3	achieve these targets. 描述所訂立的能源使用效益目標及為達到這些目標所採取的步驟。

A	Environment 環境	Section 章節
KPI A.2.4	Description of whether there is any issue in sourcing water that is fit for purpose, and the water efficiency targets set and the steps taken to achieve these targets.	A2
指標A.2.4	描述求取適用水源上可有任何問題,以及所訂立的用水效益目標及為達到這些目標所採取的步驟。
KPI A.2.5	Total packaging material used for finished products (in tonnes) and (where appropriate) with reference to per unit produced.	Due to the nature of the Group's business, the use of packaging materials is irrelevant
指標A.2.5	製成品所用包裝材料的總量(以噸計算)及(如適用)每生產單位佔量。	鑒於業務性質, 使用包裝物料與本集團的業務並不相關
Aspect A.3 方面A.3	Environment and Natural Resources 環境及天然資源	A3
KPI A.3.1	Description of business activities' major impacts on environment and natural resources and actions taken to manage related impacts	There were no incidents that have a significant impact on the environment and natural resources during the period
指標A.3.1	描述業務活動對環境及天然資源的重大影響及已採取管理有關影響的行動。	期內未有對環境及天然資源的重大影響的事故
Aspect A.4 方面A.4	Climate Change 氣候變化	A4
KPI A.4.1	Description of major climate events which have and may have effect on issuer and how they are dealt with.	A4
指標A.4.1	描述已經及可能會對發行人產生影響的重大氣候相關事宜,及應對行動。

B	Social 社會	Section 章節
Aspect B.1 方面B.1	Employment 僱傭	B1
KPI B.1.1	Total number of employees by gender, type of employment (e.g. full-time or part-time), age group and geographical region.	B1
指標B.1.1 KPI B.1.2 指標B.1.2	按性別、僱傭類型(如全職或兼職)、年齡組別及地區劃分的僱員總數。 Employee turnover rate by gender, age group and geographical region. 按性別、年齡組別及地區劃分的僱員流失比率。	B1
Aspect B.2 方面B.2	Health and Safety 健康與安全	B2
KPI B.2.1	Number and rate of work-related fatalities in each of the last three years (including the reporting year).	There were no work-related fatalities in the past three years including the reporting period
指標B.2.1	過去三年(包括匯報年度)每年因工亡故的人數及比率。	包括報告期內的過去三年未有因工亡故事件
KPI B.2.2	Lost days due to work injury.	There were no work-related accidents during the reporting period
指標B.2.2	因工傷損失工作日數。	報告期內並沒有工傷事故
KPI B.2.3	Description of the occupational health and safety measures adopted,	B2
指標B.2.3	how they are implemented and monitored. 描述所採納的職業健康與安全措施,以及相關執行及監察方法。
Aspect B.3 方面B.3	Development and Training 發展及培訓	B3
KPI B.3.1	The percentage of employees trained by gender and employee category	B3
指標B.3.1	(e.g. senior management, middle management). 按性別及僱員類別(如高級管理層、中級管理層)劃分的受訓僱員百分比。
KPI B.3.2	The average training hours completed per employee by gender and	B3
指標B.3.2	employee category. 按性別及僱員類別劃分,每名僱員完成受訓的平均時數。

B	Social 社會	Section 章節
Aspect B.4 方面B.4	Labour Standards 勞工準則	B4
KPI B.4.1	Description of measures to review employment practices to avoid child and forced labour.	B4
指標B.4.1 KPI B.4.2	描述檢討招聘慣例的措施以避免童工及強制勞工。 Description of steps taken to eliminate such practices when discovered.	No violations during the period
指標B.4.2	描述在發現違規情況時消除有關情況所採取的步驟。	期內未有違規情況
Aspect B.5 方面B.5	Supply Chain Management 供應鏈管理	C1
KPI B.5.1	Number of suppliers by geographical region.	During the reporting period, the Group did not work with any active suppliers*
指標B.5.1	按地區劃分的供應商數目。	於報告期內,本集團並未與任何活躍供應商*合作。
KPI B.5.2	Description of practices relating to engaging suppliers, number of suppliers where the practices are being implemented, how they are implemented and monitored.	All suppliers of the Group (if any) follow the Group's practice for engagement of suppliers
指標B.5.2	描述有關聘用供應商的慣例,向其執行有關慣例的供應商數目,以及相關執行及監察方法。	本集團所有供應商(如有)均會按照本集團的聘用供應商慣例
KPI B.5.3	Description of the practices related to the identification of environmental and social risks in each section of the supply chain, as well as related implementation and monitoring methods.	C1
指標B.5.3	描述有關識別供應鏈每個環節的環境及社會風險的慣例,以及相關執行及監察方法。
KPI B.5.4	Description of the practices that promote the use of environmentally friendly products and services when selecting suppliers, as well as related	C1
指標B.5.4	implementation and monitoring methods. 描述在揀選供應商時促使多用環保產品及服務的慣例,以及相關執行及監察方法。

B	Social 社會	Section 章節
Aspect B.6 方面B.6	Product Responsibility 產品責任	C2
KPI B.6.1	Percentage of total products sold or shipped subject to recalls for safety and health reasons.	During the period, no products were required to be recalled due to safety and health reasons
指標B.6.1	已售或已運送產品總數中因安全與健康理由而須回收的百分比。	期內未有產品因安全與健康理由而須回收
KPI B.6.2	Number of products and service related complaints received and how they are dealt with.	There were no complaints about quality issues during the period
指標B.6.2	接獲關於產品及服務的投訴數目以及應對方法。	期內未有因品質問題的投訴
KPI B.6.3	Description of practices relating to observing and protecting intellectual property rights.	C2
指標B.6.3	描述與維護及保障知識產權有關的慣例。
KPI B.6.4 指標B.6.4	Description of quality assurance process and product recall procedures. 描述質量檢定過程及產品回收程序。	C2
KPI B.6.5	Description of consumer data protection and privacy policies, how they are implemented and monitored.	C2
指標B.6.5	描述消費者資料保障及私隱政策,以及相關執行及監察方法。
Aspect B.7 方面B.7	Anti-Corruption 反貪污	C3
KPI B.7.1	Number of concluded legal cases regarding corrupt practices brought against the issuer or its employees during the Reporting Period and the outcomes of the cases.	There were no corruption lawsuits during the period
指標B.7.1	於匯報期內對發行人或其僱員提出並已審結的貪污訴訟案件的數目及訴訟結果。	期內未有貪污訴訟案件
KPI B.7.2	Description of preventive measures and whistle-blowing procedures, how they are implemented and monitored.	C3
指標B.7.2	描述防範措施及舉報程式,以及相關執行及監察方法。
KPI B.7.3	Description of the anti-corruption training provided to directors and employees.	C3
指標B.7.3	描述向董事及員工提供的反貪污培訓。
Aspect B.8 方面B.8	Community Investment 社區投資	C4
KPI B.8.1	Focus areas of contribution (e.g. education, environmental concerns, labour needs, health, culture, sport).	C4
指標B.8.1 KPI B.8.2 指標B.8.2	專注貢獻範疇(如教育、環境事宜、勞工需求、健康、文化、體育)。 Resources contributed to the focus area (e.g. money or time). 在專注範疇所動用資源(如金錢或時間)。	C4

TO THE SHAREHOLDERS OF MILLION STARS HOLDINGS LIMITED (Incorporated in the Cayman Islands with limited liability)

OPINION

We have audited the consolidated financial statements of Million Stars Holdings Limited (the "Company") and its subsidiaries (hereinafter collectively referred to as the "Group") set out on pages 106 to 199, which comprise the consolidated statement of financial position as at 30 June 2023, and the consolidated statement of profit or loss and other comprehensive income, the consolidated statement of changes in equity and the consolidated statement of cash flows for the year then ended, and notes to the consolidated financial statements, including a summary of significant accounting policies.

In our opinion, the consolidated financial statements give a true and fair view of the consolidated financial position of the Group as at 30 June 2023, and of its consolidated financial performance and its consolidated cash flows for the year then ended in accordance with Hong Kong Financial Reporting Standards ("HKFRSs") issued by the Hong Kong Institute of Certified Public Accountants ("HKICPA") and have been properly prepared in compliance with the disclosure requirements of the Hong Kong Companies Ordinance.

BASIS FOR OPINION

We conducted our audit in accordance with Hong Kong Standards on Auditing ("HKSAs") issued by the HKICPA. Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Consolidated Financial Statements section of our report. We are independent of the Group in accordance with the HKICPA's Code of Ethics for Professional Accountants (the "Code"), and we have fulfilled our other ethical responsibilities in accordance with the Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

致萬星控股有限公司之列位股東

(於開曼群島註冊成立之有限公司)

意見

本核數師(以下簡稱「我們」)已審計萬星控股有限公司(「貴公司」)及其附屬公司(以下統稱為「貴集團」)載於第106至199頁之綜合財務報表, 當中包括於二零二三年六月三十日之綜合財務狀況表及截至該日止年度之綜合損益及其他全面收益表、綜合權益變動表及綜合現金流量表,以及綜合財務報表附註,包括重大會計政策概要。

我們認為,綜合財務報表已根據香港會計師公會(「香港會計師公會」)頒佈之香港財務報告準則(「香港財務報告準則」)真實而中肯地反映貴集團於二零二三年六月三十日之綜合財務狀況及其截至該日止年度之綜合財務表現及綜合現金流量,以及已按照香港公司條例之披露規定妥善編製。

意見的基準

我們已根據香港會計師公會頒佈之香港審計準則(「香港審計準則」)進行審計。我們於該等準則項下之責任乃於本報告核數師就審計綜合財務報表須承擔之責任一節進一步闡述。我們根據香港會計師公會制定的專業會計師職業道德守則(「守則」)獨立於貴集團,我們亦已根據守則履行我們的其他道德責任。我們認為我們所獲得的審計憑證屬充足及適當,可為我們之意見提供基礎。

上會栢誠會計師事務所有限公司香港尖沙咀天文臺道8號19樓1903A–1905室電話:+852 2774 2188 傳真:+852 2774 2322 www.prism.com.hk

MATERIAL UNCERTAINTY RELATED TO GOING CONCERN

We draw attention to note 3 to the consolidated financial statements concerning the adoption of the going concern basis on which the consolidated financial statements have been prepared. The Group experienced a loss of approximately HK\$29,991,000 for the year ended 30 June 2023 and had borrowings and loans from shareholders and directors, a shareholder and a director due within one year of approximately HK\$4,691,000, HK\$30,416,000, HK\$17,254,000 and HK\$157,000 respectively as at that date. These conditions, along with other matters as set forth in note 3 to the consolidated financial statements, indicate that a material uncertainty exists that may cast significant doubt on the Group's ability to continue as a going concern. The directors of the Company, having considered the measures being taken by the Group, are of the opinion that the Group would be able to continue as a going concern. Our opinion is not modified in respect of this matter.

OTHER MATTER

The consolidated financial statements of the Group for the year ended 30 June 2022 were audited by another auditor who expressed a qualified opinion on those statements on 19 January 2023.

KEY AUDIT MATTERS

Key audit matters are those matters that, in our professional judgement, were of most significance in our audit of the consolidated financial statements of the current period. These matters were addressed in the context of our audit of the consolidated financial statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters.

有關持續經營的重大不確定性

我們提請垂注綜合財務報表附註3,內容有關採納編製綜合財務報表所依據的持續經營基準。貴集團於截至二零二三年六月三十日止年度錄得虧損約29,991,000港元及於該日有於一年內到期的貸款、來自股東及董事、來自一名股東及一名董事的借貸分別約4,691,000港元、 30,416,000港元、17,254,000港元及157,000港元。該等情況連同其他事項,如綜合財務報表附註3所載,表明存在重大不確定性,其可能會對貴集團持續經營的能力構成重大疑慮。經考慮貴集團採取的措施後, 貴公司董事認為貴集團將能夠按持續經營基準繼續營運。我們的意見未有就此事項作出修訂。

其他事項

截至二零二二年六月三十日止年度, 貴集團的綜合財務報表由另一名核數師審計,其於二零二三年一月十九日對此等報表發表了保留意見。

關鍵審計事項

關鍵審計事項為就我們之專業判斷而言,對我們審計本期間之綜合財務報表最為重要的事項。該等事項乃於我們審計整體綜合財務報表及出具意見時進行處理。我們不會對該等事項提供單獨意見。

Impairment assessment of trade receivables 貿易應收款項之減值評估

Refer to note 18 to the consolidated financial statements and the accounting policies on pages 137 to 142. 請參閱綜合財務報表附註18以及第137頁至142頁所載會計政策。

As at 30 June 2023, the Group had trade receivables of approximately HK\$35,359,000 after allowance for doubtful debts of approximately HK\$22,879,000.

於二零二三年六月三十日, 貴集團擁有貿易應收款項約35,359,000港元,已扣除呆賬撥備約22,879,000港元。

Management performed periodic assessment on the recoverability of the trade receivables and the sufficiency of allowance for doubtful debts based on information including credit profile of different customers, ageing of the trade receivables, historical settlement records, subsequent settlement status, expected timing and amount of realisation of outstanding balances, and ongoing trading relationships with the relevant customers. Management also considered forward-looking information that may impact the customers' ability to repay the outstanding balances in order to estimate the expected credit losses for the impairment assessment. An independent valuer was engaged by management to prepare the valuation report to assess the impairment. 管理層根據不同客戶信貸狀況、貿易應收款項的賬齡、過往還款記錄、後續還款狀況、變現未償還結餘的預期時間及金額以及與相關客戶的持續貿易關係等資料對貿易應收款項的可收回性及呆賬撥備的充足性進行定期評估。管理層亦考慮可能影響客戶償還未償還結餘能力的前瞻性資料,以估計減值評估的預期信貸虧損。管理層委聘獨立估值師編製估值報告,以評估減值。

We focused on this area due to the material amount of gross trade receivables before impairment loss recognised and the impairment assessment of trade receivables under the expected credit losses model involved the use of significant management judgements and estimates.

由於貿易應收款項總額(未扣減確認減值虧損前)數額巨大及預期信貸虧損模型下的貿易應收款項減值評估涉及運用重大管理層判斷及估計,因此我們專注於此範疇。

Key audit matters How our audit addressed the key audit matter 關鍵審核事項我們的審核如何處理關鍵審計事項

Our procedures were designed to review the management judgements used in the impairment assessments of trade receivables included:

我們旨在檢討管理層於貿易應收款項之減值評估中所用的判斷程序包括:

• Assessing the professional competency and independence of the valuation expert engaged by management;
評估管理層所委聘估值專家的專業能力及獨立性;
• Assessing whether trade receivables had been appropriately grouped by management based on their shared credit risk characteristics;
評估貿易應收款項是否已由管理層根據其共同信貸風險特徵適當歸類;
• Involving our valuation experts to discuss with management and external valuer and reconsider the appropriateness of valuation methodology and assumptions used;
請我們的估值專家與管理層及外部估值師討論並重新考慮估值方法及所用假設的適當性;
• Testing the accuracy and completeness of the data used by management to develop the expected loss rates and assessing the sufficiency, reliability and relevance of that data;
測試管理層用以計算預期虧損率所用數據的準確度及完整性,並評估該等數據的充足性、可靠度及相關度;
• Testing the calculation of the expected loss rate and evaluating the reasonableness of the forwardlooking adjustments made to reflect current and forecast future economic conditions;
測試預期虧損率的計算及評核所作出以反映目前及預測未來經濟狀況的前瞻性調整的合理性;
• Testing the accuracy of the ageing of trade receivables on a sample basis to supporting documents; and
抽樣測試證明文件的貿易應收款項賬齡的準確性; 及
• Testing the calculation of expected credit loss provisions applying the provision rates to the age categories of the trade receivables outstanding at the reporting date.
應用於報告日期尚未收取的貿易應收款項賬齡類別的撥備率,測試預期信貸虧損撥備的計算。

Impairment assessment of deposits, prepayments and other receivables

Refer to note 19 to the consolidated financial statements and the accounting policies on pages 137 to 142.

請參閱綜合財務報表附註19以及第137頁至142頁所載會計政策。

As at 30 June 2023, the Group had deposits, prepayments and other receivables of approximately HK\$82,534,000 after allowance for doubtful debts of approximately HK\$95,964,000.

於二零二三年六月三十日, 貴集團擁有按金、預付款項及其他應收款項約82,534,000港元,已扣除呆賬撥備約95,964,000港元。

Management performed periodic assessment on the recoverability of the deposits, prepayments and other receivables and the sufficiency of allowance for doubtful debts based on information including credit profile of different counterparties, historical settlement records, subsequent settlement status, expected timing and amount of realisation of outstanding balances, and ongoing business relationships with the relevant counterparties. Management also considered forwardlooking information that may impact the counterparties' ability to repay the outstanding balances in order to estimate the expected credit losses for the impairment assessment. An independent valuer was engaged by management to prepare the valuation report to assess the impairment.

管理層根據不同對手方的信貸狀況、過往還款記錄、後續還款狀況、變現未償還結餘的預期時間及金額以及與相關對手方的持續貿易關係等資料對按金、預付款項及其他應收款項可收回性及呆賬撥備的充足性進行定期評估。管理層亦考慮影響對手方償還未償還結餘能力的前瞻性資料,以估計減值評估的預期信貸虧損。管理層委聘獨立估值師編製估值報告,以評估減值。

We focused on this area due to the material amounts of the respective gross balances before impairment loss recognised and the impairment assessment of deposits, prepayments and other receivables under the expected credit losses model involved the use of significant management judgements and estimates.

由於相關總結餘(未扣減確認減值虧損前)數額巨大及預期信貸虧損模型下的按金、預付款項及其他應收款項減值評估涉及運用重大管理層判斷及估計,因此我們專注於此範疇。

Key audit matters How our audit addressed the key audit matter 關鍵審核事項我們的審核如何處理關鍵審計事項

按金、預付款項及其他應收款項之減值評估

Our procedures in relation to management's judgements used in the impairment assessments of deposits, prepayments and other receivables included: 我們處理管理層於按金、預付款項及其他應收款項之

減值評估中所用的判斷程序包括:

• Assessing the professional competency and independence of the valuation expert engaged by management;
評估管理層所委聘估值專家的專業能力及獨立性;
• Involving our valuation experts to discuss with management and external valuer and reconsider the appropriateness of valuation methodology and assumptions used;
請我們的估值專家與管理層及外部估值師討論並重新考慮估值方法及所用假設的適當性;
• Assessing whether deposits, prepayments and other receivables had been appropriately grouped by management based on their shared credit risk characteristics;
評估按金、預付款項及其他應收款項是否已由管理層根據其共同信貸風險特徵適當歸類;
• Testing the accuracy and completeness of the data used by management to develop the expected loss rates and assessing the sufficiency, reliability and relevance of that data;
測試管理層用以計算預期虧損率所用數據的準確度及完整性,並評估該等數據的充足性、可靠度及相關度;
• Testing the calculation of the expected loss rate and evaluating the reasonableness of the forwardlooking adjustments made to reflect current and forecast future economic conditions; and
測試預期虧損率的計算及評核所作出以反映目前及預測未來經濟狀況的前瞻性調整的合理性;及
• Testing the calculation of expected credit loss provisions applying the provision rates to the age categories of the other receivables outstanding at the reporting date.
應用於報告日期尚未收取的其他應收款項賬齡類別的撥備率,測試預期信貸虧損撥備的計算。

Impairment assessment of property, plant and equipment

Refer to note 15 to the consolidated financial statements and the accounting policies on pages 146 to 147.

請參閱綜合財務報表附註15以及第146頁至147頁所載會計政策。

As at 30 June 2023, the carrying amount of the Group's property, plant and equipment is HK\$2,384,000 (2022: 4,740,000). No impairment loss (2022: HK\$9,367,000) has been recognised for the current year on the property, plant and equipment.

於二零二三年六月三十日, 貴集團物業、廠房及設備之賬面值為2,384,000港元(二零二二年:4,740,000港元)。本年度並無就物業、廠房及設備確認減值(二零二二年:9,367,000港元)。

We focused on the impairment assessment of the Group's property, plant and equipment as the magnitude of the property, plant and equipment is significant and management assessment of the market approach involves judgments and estimates, key assumptions including market prices.

由於物業、廠房及設備之規模龐大及管理層對市場方法之評估涉及判斷及估計以及關鍵假設(包括市場價格),因此我們專注於貴集團物業、廠房及設備之減值評估。

Key audit matters How our audit addressed the key audit matter 關鍵審核事項我們的審核如何處理關鍵審計事項

物業、廠房及設備之減值評估

Our procedures in relation to management's judgements used in the impairment assets of property, plant and equipment included:

我們處理管理層於物業、廠房及設備之減值評估中所用的判斷程序包括:

• Obtaining an understanding of the Group's impairment assessment procedures, including the valuation model adopted, assumptions used by management and independent external valuer appointed by the Group;
我們對貴集團之減值評估程序進行了解,包括所採納的估值模型、管理層採用的假設及貴集團委任的獨立外部估值師;
• Assessing the professional competency and independence of the valuation expert engaged by management;
評估管理層委聘的估值專家的專業能力及獨立性;
• Involving our valuation experts to discuss with management and external valuer and reconsider the appropriateness of valuation methodology and assumptions used; and
請我們的估值專家與管理層及外部估值師討論並重新考慮估值方法及所用假設的適當性;及
• Challenging the key assumptions including market prices by comparing with information publicly available.
我們通過與公開可得資料進行比較,質疑關鍵假設(包括市場價格)。

OTHER INFORMATION

The directors of the Company are responsible for the other information. The other information comprises the information included in the annual report other than the consolidated financial statements and our auditor's report thereon.

Our opinion on the consolidated financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

In connection with our audit of the consolidated financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the consolidated financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

RESPONSIBILITIES OF THE DIRECTORS OF THE COMPANY AND THOSE CHARGED WITH GOVERNANCE FOR THE CONSOLIDATED FINANCIAL STATEMENTS

The directors of the Company are responsible for the preparation of the consolidated financial statements that give a true and fair view in accordance with HKFRSs issued by the HKICPA and the disclosure requirements of the Hong Kong Companies Ordinance, and for such internal control as the directors of the Company determine is necessary to enable the preparation of consolidated financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the consolidated financial statements, the directors of the Company are responsible for assessing the Group's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors of the Company either intend to liquidate the Group or to cease operations, or have no realistic alternative but to do so.

Those charged with governance are responsible for overseeing the Group's financial reporting process.

其他資料

貴公司董事須對其他資料負責。其他資料包括載入年報之資料,但不包括綜合財務報表及我們的核數師報告。

我們對綜合財務報表作出的意見並不包括其他資料,我們亦不會對其他資料發表任何形式之核證結論。

結合我們對綜合財務報表的審計而言,我們的責任為閱讀其他資料,並於此過程中,考慮其他資料是否與綜合財務報表或我們於審計中所得知的情況有重大抵觸,或似乎有重大錯誤陳述。基於我們已執行的工作,倘我們認為此其他資料有重大錯誤陳述,我們須報告有關事實。就此,我們並無須作出報告之事項。

貴公司董事及管治層就綜合財務報表須承擔的責任

貴公司董事須負責根據香港會計師公會頒佈的香港財務報告準則及香港公司條例的披露要求編製真實而中肯的綜合財務報表,並對貴公司董事認為為使綜合財務報表的編製不存在由於欺詐或錯誤而導致的重大錯誤陳述所需的內部監控負責。

在編製綜合財務報表時, 貴公司董事負責評估貴集團的持續經營能力,並在適用情況下披露與持續經營相關的事項,以及使用持續經營為會計基礎,除非貴公司董事有意將貴集團清盤或停止經營,或別無其他實際的替代方案。

管治層負責監督貴集團的財務報告過程。

AUDITOR'S RESPONSIBILITIES FOR THE AUDIT OF THE CONSOLIDATED FINANCIAL STATEMENTS

Our objectives are to obtain reasonable assurance about whether the consolidated financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Our report is made solely to you, as a body, in accordance with the terms of our engagement, and for no other purpose. We do not assume responsibility towards or accept liability to any other person for the contents of this report. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with HKSAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated financial statements.

As part of an audit in accordance with HKSAs, we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the consolidated financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Group's internal control.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors of the Company.

核數師就審計綜合財務報表須承擔之責任

我們的目標為合理確定此等綜合財務報表整體而言不會存在由於欺詐或錯誤而導致之重大錯誤陳述,並發出載有我們意見之核數師報告。我們根據委聘條款僅向閣下(作為整體)報告,不作其他用途。我們並不就本報告之內容對任何其他人士承擔任何義務或接受任何責任。合理確定屬高層次核證,惟根據香港審計準則進行之審計工作不能保證總能察覺所存在之重大錯誤陳述。錯誤陳述可因欺詐或錯誤產生,倘個別或整體在合理預期情況下可影響使用者根據該等綜合財務報表作出之經濟決定時,則被視為重大錯誤陳述。

在根據香港審計準則進行審計之過程中,我們運用專業判斷,保持專業懷疑態度。我們亦:

識別及評估由於欺詐或錯誤而導致綜合財務報表存在重大錯誤陳述之風險、設計及執行審計程序以應對該等風險,以及獲取充足及適當之審計憑證,作為我們意見的基礎。由於欺詐可能涉及串謀、偽造、蓄意遺漏、虛假陳述或凌駕內部控制之情況,因此未能發現因欺詐而導致的重大錯誤陳述之風險高於未能發現因錯誤而導致的重大錯誤陳述之風險。
了解與審計相關的內部控制,以設計適當的審計程序,惟並非旨在對貴集團內部控制之有效性發表意見。
評估貴公司董事所採用會計政策之恰當性及作出會計估計及相關披露之合理性。
• Conclude on the appropriateness of the Company's directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Group's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the consolidated financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Group to cease to continue as a going concern.
• Evaluate the overall presentation, structure and content of the consolidated financial statements, including the disclosures, and whether the consolidated financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
• Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the Group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion.

We communicate with the those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide the those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, actions taken to estimate threats or safeguards applied.

對貴公司董事採用持續經營會計基礎的恰當性作出結論,並根據所獲取之審計憑證,確定是否存在與事項或情況有關的重大不確定性,從而可能導致對貴集團之持續經營能力產生重大疑慮。倘我們認為存在重大不確定性,則有必要在核數師報告中提請使用者注意綜合財務報表中之相關披露。倘有關披露不足,則修訂我們的意見。我們的結論乃基於截至核數師報告日期止所取得之審計憑證。然而,未來事項或情況可能導致貴集團無法持續經營。
評估綜合財務報表之整體呈報方式、結構及內容,包括披露資料,以及綜合財務報表是否中肯反映相關交易及事項。
就貴集團內實體或業務活動之財務資料獲取充足及適當的審計憑證,以便對綜合財務報表發表意見。我們負責集團審計之方向、監督及執行。我們為審計意見承擔全部責任。

我們與管治層就(其中包括)審計之計劃範圍、時間安排及重大審計發現進行溝通,該等發現包括我們在審計過程中識別的內部控制之任何重大缺失。

我們亦向管治層作出聲明,指出我們已符合有關獨立性之相關道德要求,並與彼等溝通可能被合理認為會影響我們的獨立性之所有關係及其他事宜,以及(倘適用)為消除威脅採取之措施或應用之防範措施。

From the matters communicated with the those charged with governance, we determine those matters that were of most significance in the audit of the consolidated financial statements of the current period and are therefore the key audit matters. We describe these matters in our auditor's report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.

The engagement partner on the audit resulting in this independent auditor's report is Mr. Lee Kwok Lun.

從與管治層溝通的事項中,我們釐定對本期間綜合財務報表的審計至關重要之事項,因而構成關鍵審計事項。我們在核數師報告中描述該等事項,除非法律或法規不允許公開披露該等事項,或在極端罕見情況下,倘合理預期在我們報告中溝通某事項造成的負面後果超出產生之公眾利益,則我們決定不應在報告中溝通該事項。

本獨立核數師報告的審計項目合夥人是李國麟先生。

Prism Hong Kong and Shanghai Limited Certified Public Accountants

Lee Kwok Lun Practising Certificate Number: P06294

Hong Kong 29 September 2023

上會栢誠會計師事務所有限公司 執業會計師 李國麟 執業證書編號:P06294

香港二零二三年九月二十九日

CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME 綜合損益及其他全面收益表

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

			2023	2022
		Notes	二零二三年 HK\$'000	二零二二年 HK\$'000
		附註	千港元	千港元
Revenue	收入	5	69,962	46,442
Cost of goods sold and services	已售貨品及服務成本		(72,268)	(45,577)
Gross (loss)/profit	毛(損)╱利		(2,306)	865
Other income, gains and losses, net Selling and distribution expenses	其他收入、收益及虧損淨額銷售及分銷開支	7	(7,147) (1,099)	(69,781) (433)
Administrative expenses Finance costs	行政開支財務成本	8	(17,762) (1,727)	(29,716) (300)

Loss before tax Income tax credit/(expense)	除稅前虧損所得稅抵免╱(開支)	9	(30,041) 50	(99,365) (128)
Loss for the year attributable to	本公司擁有人應佔年內虧損
owners of the Company		10	(29,991)	(99,493)
Other comprehensive (expense)/income: Items that may be reclassified	其他全面(開支)╱收益: 可能重新分類至損益的項目:
to profit or loss: Exchange differences arising on translating foreign operations	換算境外業務產生之匯兌差額		(12,264)	3,475
Other comprehensive (expense)/income for the year	年內其他全面(開支)╱收益		(12,264)	3,475

Total comprehensive expense for the year attributable to owners	本公司擁有人應佔年內全面開支總額
of the Company			(42,255)	(96,018)
Loss per share	每股虧損	14
Basic and diluted (HK cents)	基本及攤薄(港仙)		(6.10)	(20.60)

CONSOLIDATED STATEMENT OF FINANCIAL POSITION 綜合財務狀況表

At 30 June 2023 於二零二三年六月三十日

				2022
		Notes	二零二三年 HK\$'000	二零二二年 HK\$'000
		附註	千港元	千港元

Non-current assets Property, plant and equipment	非流動資產物業、廠房及設備	15	2,384	4,740
Right-of-use assets	使用權資產	16(a)	208	469
Goodwill	商譽	17	–	–
			2,592	5,209

Current assets	流動資產
Inventories	存貨		45	–
Trade receivables	貿易應收款項	18	35,359	–
Deposits, prepayments and other receivables	按金、預付款項及其他應收款項	19	82,534	71,577
Cryptocurrency	加密貨幣	20	10	10
Restricted bank deposits	受限制銀行存款	21	105	–
Pledged bank deposits	已抵押銀行存款	21	25,882	–
Bank and cash balances	銀行及現金結餘	21	4,708	19,907

Assets classified as held-for-sale	分類為持作出售之資產	22	148,643 3,368	91,494 –

Total current assets	流動資產總值		152,011	91,494

Current liabilities Trade and bills payables	流動負債貿易應付款項及應付票據	23	44,899	6,572
Accruals and other payables	應計費用及其他應付款項	24	37,065	10,963
Borrowings	借貸	26	4,691	9,326
Loans from shareholders and directors	來自股東及董事貸款	25	30,416	604
Loan from a shareholder	來自一名股東貸款	25	17,254	–
Loan from a director	來自一名董事貸款	25	157	–
Lease liabilities	租賃負債	16(b)	240	286
Current tax liabilities	當期稅項負債		1,103	2,255
			135,825	30,006
Liabilities associated with assets	與分類為持作出售之
classified as held-for-sale	資產有關之負債	22	5,239	–
Total current liabilities	流動負債總額		141,064	30,006

Net current assets	流動資產淨值		10,947	61,488
Total assets less current liabilities	總資產減流動負債		13,539	66,697

CONSOLIDATED STATEMENT OF FINANCIAL POSITION 綜合財務狀況表

At 30 June 2023 於二零二三年六月三十日

			2023 二零二三年	2022 二零二二年
		Notes 附註	HK\$'000 千港元	HK\$'000 千港元

Non-current liabilities	非流動負債
Borrowings	借貸	26	–	13,768
Lease liabilities	租賃負債	16(b)	42	177

Total non-current liabilities	非流動負債總額		42	13,945

Net assets	資產淨值		13,497	52,752

Capital and reserves	資本及儲備
Share capital	股本	28	5,080	4,880
Reserves	儲備		8,417	47,872

TOTAL EQUITY	權益總額		13,497	52,752

The consolidated financial statements on pages 106 to 199 were approved by the board of directors on 29 September 2023, and are signed on its behalf by:

第106至199頁的綜合財務報表已由董事會於二零二三年九月二十九日批准並由下列董事代表簽署:

ZHU Yongjun	TIAN Yuan
朱勇軍	田園
Director	Director
董事	董事

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY 綜合權益變動表

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

				Attributable to owners of the Company
				本公司擁有人應佔
						Retained
						profits/
		Share capital	Share premium	Statutory reserve	Exchange reserve	(accumulated losses)	Total
						保留溢利╱
		股本	股份溢價	法定儲備	匯兌儲備	(累計虧損)	總計
				(note) (附註)
		HK\$'000	HK\$'000	HK\$'000	HK\$'000	HK\$'000	HK\$'000
		千港元	千港元	千港元	千港元	千港元	千港元

As at 1 July 2021	於二零二一年七月一日	4,200	44,582	1,806	(6,231)	87,413	131,770
Loss for the year	年內虧損	–	–	–	–	(99,493)	(99,493)
Other comprehensive income	年內其他全面收益
for the year
Exchange differences arising on	換算境外業務產生之
translating foreign	匯兌差額
operations		–	–	–	3,475	–	3,475
Total comprehensive income/	年內全面收益╱(開支)總額
(expense) for the year		–	–	–	3,475	(99,493)	(96,018)
Issue of shares (Note 28)	發行股份(附註28)	680	16,320	–	–	–	17,000

As at 30 June 2022 and	於二零二二年六月三十日
1 July 2022	及二零二二年七月一日	4,880	60,902	1,806	(2,756)	(12,080)	52,752
Loss for the year	年內虧損	–	–	–	–	(29,991)	(29,991)
Other comprehensive expense	年內其他全面開支
for the year
Exchange differences arising on translating foreign	換算境外業務產生之匯兌差額
operations		–	–	–	(12,264)	–	(12,264)

Total comprehensive expense	年內全面開支總額
for the year		–	–	–	(12,264)	(29,991)	(42,255)
Issue of shares (Note 28)	發行股份(附註28)	200	2,800	–	–	–	3,000

As at 30 June 2023	於二零二三年六月三十日	5,080	63,702	1,806	(15,020)	(42,071)	13,497

Note: Pursuant to the relevant laws and regulations for business enterprises in the People's Republic of China (the "PRC"), a portion of the profits of the entities which are registered in the PRC has been transferred to the statutory reserve which is restricted as to use. When the balance of such reserve reaches 50% of the capital of that entity, any further appropriation is optional. The statutory reserve can be utilised, upon approval of the relevant authority, to offset prior years' losses or to increase capital. However, the balance of the statutory reserve must be maintained at a minimum 25% of capital after such usage.

附註:根據中華人民共和國(「中國」)的相關企業法律及法規,於中國註冊之實體之部分溢利已轉撥至有限定用途之法定儲備。當該等儲備結餘達該實體股本之 50%時,可選擇是否作出進一步劃撥。法定儲備在獲得相關部門批准後方可動用,以抵銷過往年度之虧損或用於增資。然而,用於該等用途後法定儲備之結餘須維持在股本之最低25%。

CONSOLIDATED STATEMENT OF CASH FLOWS 綜合現金流量表

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

		2023 二零二三年	2022 二零二二年
		HK\$'000	HK\$'000
		千港元	千港元
CASH FLOWS FROM OPERATING ACTIVITIES 經營活動產生之現金流量
Loss before tax	除稅前虧損	(30,041)	(99,365)
Adjustments for:	經以下各項調整:
Interest income	利息收入	(1,129)	(723)
Finance costs	財務成本	1,727	300
Depreciation of property, plant and	物業、廠房及設備折舊
equipment		1,992	6,786
Depreciation of right-of-use assets	使用權資產折舊	568	597
Gain on disposal of assets classified	出售分類為持作出售之
as held-for-sale	資產之收益	–	(9,592)
(Gain)/loss on disposal of property,	出售物業、廠房及設備
plant and equipment	之(收益)╱虧損	(24)	1,609
Impairment loss recognised on trade	已確認貿易及其他應收款項減值虧損淨額
and other receivables, net Impairment loss recognised on property,	已確認物業、廠房及	11,609	69,210
plant and equipment	設備減值虧損	–	9,367

Operating loss before working capital changes	營運資金變動前之經營
	虧損	(15,298)	(21,811)
Increase in inventories	存貨增加	(45)	–
(Increase)/decrease in trade receivables	貿易應收款項(增加)╱
	減少	(39,609)	20,631
Increase in deposits, prepayments and	按金、預付款項及其他
other receivables	應收款項增加	(37,450)	(40,671)
Increase in cryptocurrency	加密貨幣增加	–	(40)
Increase/(decrease) in trade and bills payables	貿易應付款項及應付票據
	增加╱(減少)	39,219	(1,335)
Increase/(decrease) in accruals and	應計費用及其他應
other payables	付款項增加╱(減少)	29,595	(3,068)
Decrease in amount due to a director	應付一名董事款項減少	–	(654)
Decrease in amount due to a shareholder	應付一名股東款項減少	–	(354)

Cash used in operations Interest received	經營所用之現金已收利息	(23,588) 1,129	(47,302) 723
Income tax paid	已付所得稅	(1,102)	(2,131)

Net cash flows used in operating activities	經營活動所用
	之現金流量淨額	(23,561)	(48,710)

CONSOLIDATED STATEMENT OF CASH FLOWS 綜合現金流量表

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

			2023 二零二三年	2022 二零二二年
		Notes 附註	HK\$'000 千港元	HK\$'000 千港元

CASH FLOWS FROM INVESTING ACTIVITIES Purchases of property, plant and equipment	投資活動產生之現金流量購買物業、廠房及設備		(2,426)	(59,622)
Proceeds from disposals of property,	出售物業、廠房及設備之
plant and equipment Proceeds from disposals of assets classified	所得款項出售分類為持作出售資產		113	60,024
as held-for-sale	之所得款項		–	40,635
Placement of pledged bank deposits	置存已抵押銀行存款		(25,882)	–
Placement of restricted bank deposits	置存受限制銀行存款		(105)	–
Net cash flows (used in)/generated	投資活動(所用)╱產生
from investing activities	之現金流量淨額		(28,300)	41,037
CASH FLOWS FROM FINANCING	融資活動產生之現金流量
ACTIVITIES
Proceeds from issue of ordinary shares	發行普通股所得款項		3,000	10,700
Borrowings raised	已籌集借貸	33(b)	500	13,768
Repayment of borrowings	償還借貸	33(b)	(7,555)	(234)
Repayment of lease liabilities	償還租賃負債	33(b)	(515)	(619)
Advance from shareholders and directors	來自股東及董事墊款		31,773	–
Advance from a shareholder Advance from a director	來自一名股東墊款來自一名董事墊款		10,139 164	– –
Interest paid	已付利息	33(b)	(423)	(293)

Net cash flows generated from	融資活動產生
financing activities	之現金流量淨額		37,083	23,322
NET (DECREASE)/INCREASE IN CASH	現金及現金等價物
AND CASH EQUIVALENTS	(減少)╱增加淨額		(14,778)	15,649
CASH AND CASH EQUIVALENTS	年初之現金及現金等價物
AT BEGINNING OF THE YEAR			19,907	1,446
Effect of foreign exchange rate changes, net	匯率變動之淨影響		(405)	2,812
CASH AND CASH EQUIVALENTS AT END	年終之現金及現金等價物
OF THE YEAR			4,724	19,907

ANALYSIS OF BALANCES OF CASH AND CASH EQUIVALENTS	現金及現金等價物結餘分析
Bank and cash balances	銀行及現金結餘
(including which classified as held for sale)	(包括分類為持作出售者)		4,724	19,907

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

1. CORPORATE INFORMATION

Million Stars Holdings Limited (the "Company") was incorporated in the Cayman Islands with limited liability. The address of the registered office of the Company is Cricket Square, Hutchins Drive, PO Box 2681, Grand Cayman, KY1- 1111, Cayman Islands. The principal place of business of the Company is Room 702 A&B, 7/F, Harbour Crystal Centre, 100 Granville Road, Tsim Sha Tsui, Kowloon, Hong Kong. The Company's shares are listed on the GEM of The Stock Exchange of Hong Kong Limited (the "Stock Exchange").

The Company is an investment holding company. The principal activities of the Company's subsidiaries are provision of internet advertising agency services, mobile payment technical support services and digitalization empowerment platform business.

The consolidated financial statements are presented in Hong Kong dollars ("HK\$"), which is also the functional currency of the Company, unless otherwise stated.

The trading of shares of the Company on the Stock Exchange suspended as from 4 October 2021 and resumed on 26 September 2022.

2. APPLICATION OF NEW AND AMENDMENTS TO HONG KONG FINANCIAL REPORTING STANDARDS ("HKFRSs")

Amendments to HKFRSs that are mandatory effective for the year

In the current year, the Group has applied, for the first time, the following amendments to HKFRSs issued by the HKICPA which are effective for the Group's financial year beginning 1 July 2022:

Amendments to HKFRS 3	Reference to the Conceptual
	Framework
Amendments to HKAS 16	Property, plant and
	Equipment: Proceeds before Intended Use
Amendments to HKAS 37	Onerous Contracts — Cost of
	Fulfilling a Contract
Amendments to HKFRSs	Annual Improvements to HKFRSs 2018–2020 cycle

The application of the amendments to HKFRSs in the current year has had no material effect on the Group's financial performance and positions for the current and prior periods and/or on the disclosures set out in these consolidated financial statements.

1. 公司資料

萬星控股有限公司(「本公司」)於開曼群島註冊成立為有限公司。本公司註冊辦事處之地址為Cricket Square,HutchinsDrive, PO Box 2681, Grand Cayman, KY1-1111, Cayman Islands。本公司之主要營業地點地址為香港九龍尖沙咀加連威老道100號港晶中心7樓702A 及B室。本公司股份於香港聯合交易所有限公司(「聯交所」)GEM上市。

本公司為投資控股公司。本公司附屬公司之主要業務為提供互聯網廣告代理服務、移動支付技術支持服務及數字化產業賦能平台業務。

綜合財務報表以港元(「港元」)呈列,除另有說明外,港元亦為本公司之功能貨幣。

本公司股份自二零二一年十月四日起於聯交所暫停買賣,並於二零二二年九月二十六日復牌。

2. 應用新訂及經修訂香港財務報告準則(「香港財務報告準則」)

於本年度強制生效之經修訂香港財務報告準則

於本年度,本集團已首次應用香港會計師公會頒佈並於本集團二零二二年七月一日開始之財政年度期間生效之以下香港財務報告準則(修訂本):

香港財務報告準則第3號(修訂本)	概念框架之提述
香港會計準則第16號(修訂本)	物業、廠房及設備: 擬定用途前之所得款項
香港會計準則第37號(修訂本) 香港財務報告準則 (修訂本)	虧損性合約 — 履行合約之成本二零一八年至二零二零年香港財務報告準則之年度改進

本年度應用經修訂香港財務報告準則對本集團於本期間及過往期間之財務表現及狀況及╱或載於該等綜合財務報表之披露並無重大影響。

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

2. APPLICATION OF NEW AND AMENDMENTS TO HONG KONG FINANCIAL REPORTING STANDARDS ("HKFRSs") (continued)

New and amendments to HKFRSs issued but not yet effective

The Group has not applied the following new and revised HKFRSs that have been issued but are not yet effective:

HKFRS 17 (including the October 2020 and February 2022 amendments to HKFRS 17)	Insurance Contracts and related Amendments1
Amendments to HKFRS 16	Lease Liability in a Sale and Leaseback2
Amendments to HKAS 7 and HKFRS 7	Supplier Finance Arrangement2
Amendments to HKFRS 10 and HKAS 28	Sale or Contribution of Assets between an Investor and its Associate or Joint Venture3
Amendments to HKAS 1	Classification of Liabilities as Current or Non-current and the related amendments to Hong Kong Interpretation 5
	(2020) Presentation of Financial Statements — Classification by the Borrower of a Term Loan that Contains a Repayment on Demand
Amendments to HKAS 1	Clause2 Non-current Liabilities with Covenants2
Amendments to HKAS 1 and HKFRS Practice Statement 2	Disclosure of Accounting Policies1
Amendments to HKAS 8	Definition of Accounting Estimate1
Amendments to HKAS 12	Deferred Tax related to Assets and Liabilities arising from a Single Transaction1
Amendments to HKAS 12	International Tax Reform-Pillar Two Model Rules1
1	Effective for annual periods beginning on or after 1 January 2023.
2	Effective for annual periods beginning on or after 1 January 2024.

³ Effective for annual period beginning on or after a date to be determined.

The directors of the Company anticipate that the application of new and amendments to HKFRSs will have no material impact on the results and the financial position of the Group.

2. 應用新訂及經修訂香港財務報告準則(「香港財務報告準則」)(續)

已頒佈但尚未生效的新訂及經修訂香港財務報告準則

本集團並無應用下列已頒佈但尚未生效之新訂及經修訂香港財務報告準則:

	香港財務報告準則第17號 (包括二零二零年十月及二零二二年二月的香港財務報告準則第17號	保險合約及相關修訂1
(修訂本)) (修訂本)	香港財務報告準則第16號	售後回租的租賃負債2
(修訂本)	香港會計準則第7號及香港財務報告準則第7號	供應商融資安排2
(修訂本)	香港財務報告準則第10號及香港會計準則第28號	投資者與其聯營公司或合營企業之間資產出售或投入3
	香港會計準則第1號(修訂本)將負債分類為流動或	非流動以及香港詮釋第5號 (二零二零年)的
		有關修訂「呈列財務報表 — 借款人對附帶按要求償還條
		款的定期貸款的分類」2
	香港會計準則第1號(修訂本)附帶契諾的非流動	負債2
	香港會計準則第1號及香港財務報告準則實務報告第2號(修訂本)	會計政策披露1
	香港會計準則第8號(修訂本)會計估計的定義1
(修訂本)	香港會計準則第12號	與單一交易產生的資產及負債相關的遞延稅項1
(修訂本)	香港會計準則第12號	國際稅務改革 -支柱二範本規則1
1	於二零二三年一月一日或之後開始的年度期間生效。
2 3	於二零二四年一月一日或之後開始的年度期間生效。
	於待定日期或之後開始的年度期間生效。

本公司董事預計應用新訂及經修訂香港財務報告準則將不會對本集團的業績及財務狀況產生重大影響。

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of preparation

The consolidated financial statements have been prepared in accordance with HKFRSs issued by the HKICPA. In addition, the consolidated financial statements include applicable disclosures required by the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and by the Hong Kong Companies Ordinance.

The consolidated financial statements have been prepared on the historical cost basis. These consolidated financial statements are presented in Hong Kong dollars and all values are rounded to the nearest thousand except when otherwise indicated.

Historical cost is generally based on the fair value of the consideration given in exchange for goods and services.

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, regardless of whether that price is directly observable or estimated using another valuation technique. Details of fair value measurement are explained in the accounting policies set out below.

The significant accounting policies are set out below.

Going concern assessment

In preparing the consolidated financial statements, the directors of the Company have considered the future liquidity of the Group in view of its recurring losses incurred. The Group incurred a net loss of approximately HK\$29,991,000 for the year ended 30 June 2023 and had borrowings and loans from shareholders and directors, a shareholder and a director due within one year of approximately HK\$4,691,000, HK\$30,416,000, HK\$17,254,000 and HK\$157,000 respectively, as at that date. Notwithstanding the above results, the consolidated financial statements have been prepared on a going concern basis, the validity of the going concern basis is dependent upon the success of the Group's future operations, its ability to generate adequate cash flows in order to meet its obligations as and when fall due and its ability to refinance or restructure its borrowings such that the Group can meet its future working capital and financing requirements.

3. 重大會計政策概要

編製基準

綜合財務報表乃根據香港會計師公會頒佈之香港財務報告準則編製。此外,綜合財務報表包括香港聯合交易所有限公司證券上市規則及香港公司條例規定之適用披露事項。

該等綜合財務報表按歷史成本基準編製。該等綜合財務報表以港元呈列,除非另有註明,所有數值均四捨五入至最接近的千位。

歷史成本通常乃根據換取商品及服務所付出的代價之公平值計算。

公平值是指市場參與者之間於計量日期進行的有序交易中出售一項資產所收取或轉移一項負債所支付的價格,無論該價格是否可直接觀察或採用其他估值技術作出估計。公平值計量詳情於下文載列的會計政策中解釋。

重大會計政策載列如下。

持續經營評估

在編製綜合財務報表時,本公司董事已基於本集團產生的經常性虧損考慮其未來流動資金。於截至二零二三年六月三十日止年度,本集團產生淨虧損約29,991,000港元及於該日有於一年內到期的貸款、來自股東及董事、來自一名股東及一名董事借貸分別約4,691,000港元、30,416,000港元、17,254,000港元及157,000港元。儘管取得上述業績,綜合財務報表已按持續經營基準編製,其有效性取決於本集團未來營運成功與否、其能否產生足夠現金流量以履行其到期責任以及其能否再融資或重組其借貸,以便本集團能夠滿足其未來營運資金及融資需求。

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Basis of preparation (continued)

Going concern assessment (continued)

Also, the directors of the Company are of the opinion that the Group will be able to finance its future financing requirements and working capital based on the following considerations:

• the directors of the Company have carried out a detail review of the working capital forecast of the Group for not less than twelve months from the year end date, which took into account the projected future working capital of the Group;
• to obtain additional funds by equity financing and long-term debt financing to finance the Group's working capital and the repayment of existing debts when they fall due;
• to negotiate with the lenders of the other borrowings and creditors for the extension of repayments of those borrowings and trade and other payables to a date when the Group has adequate working capital to serve the repayments;
• to formulate and closely monitor business strategy for the Group to generate cash flows from its existing and new business operations; and
• The shareholders and directors, a shareholder and a director of the Company have agreed not call for any repayment of loans amounting approximately HK\$30,416,000, HK\$17,254,000 and HK\$157,000 respectively, until the Group is in a financial position to do so.

In view of the above, the directors of the Company are of the opinion that there will be sufficient financial resources available to the Group to enable it to meet its liabilities as and when they fall due and to continue as a going concern. Accordingly, the directors of the Company have prepared the consolidated financial statements on a going concern basis.

Notwithstanding the above, significant uncertainties exist as to whether the directors of the Company will be able to achieve its plans and measures as described above. Whether the Group will be able to continue as a going concern would depend upon the Group's ability to generate adequate financing and operating cash flows in the near future.

3. 重大會計政策概要(續)

編製基準(續)

持續經營評估(續)

此外,基於以下考慮因素,本公司董事認為本集團將能夠撥付其未來融資需求及營運資金:

本公司董事已詳細審閱本集團由年結日起計起不少於十二個月的營運資金預測,其中計及本集團預計的未來營運資金;
透過股本融資及長期債務融資取得額外資金,以為本集團的營運資金及於到期時償還現有債務提供資金;
就延長償還該等借貸以及貿易及其他應付款項至本集團有足夠營運資金應付還款的日期,與其他借貸的貸款人及債權人磋商;
制定及密切監察本集團的業務策略, 以自現有及新業務營運產生現金流量;及
本公司股東及董事、一名股東及一名董事已同意不要求償還金額分別約為 30,416,000港元、17,254,000港元及 157,000港元之貸款,直至本集團之財務狀況容許為止。

鑑於上文所述,本公司董事認為,本集團將擁有足夠財務資源以便其能夠履行其到期責任並按持續經營基準繼續營運。因此,本公司董事已按持續經營基準編製綜合財務報表。

儘管如此,本公司董事能否實現其上述計劃及措施仍存在重大不確定因素。本集團能否按持續經營基準繼續營運將取決於本集團能否在不久的將來產生充足融資及經營現金流量。

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Basis of preparation (continued)

Going concern assessment (continued)

Should the Group be unable to continue to operate as a going concern, adjustments would have to be made to write down the value of assets to their recoverable amounts, to provide for further liabilities which might arise and to reclassify non-current assets and non-current liabilities as current assets and current liabilities respectively. The effect of these adjustments has not been reflected in these consolidated financial statements.

Basis of consolidation

The consolidated financial statements incorporate the financial statements of the Company and entities controlled by the Company and its subsidiaries.

Control is achieved where the Group has: (i) the power over the investee; (ii) exposure, or rights, to variable returns from its involvement with the investee; and (iii) the ability to use its power over the investee to affect the amount of the Group's returns.

The Group reassess whether it controls an investee if facts and circumstances indicate that there are changes to one or more of these elements of control stated above.

Consolidation of a subsidiary begins when the Group obtains control over the subsidiary and cease when the Group loses control of the subsidiary.

Profit or loss and each component of other comprehensive income of subsidiaries are attributed to the owners of the Company and to the non-controlling interests. Total comprehensive income of subsidiaries is attributed to the owners of the Company and to the non-controlling interests even if this results in the non-controlling interests having a deficit balance.

All intra-group assets and liabilities, equity, income, expenses and cash flows relating to transactions between entities of the Group are eliminated in full on consolidation.

3. 重大會計政策概要(續)

編製基準(續)

持續經營評估(續)

如果本集團無法按持續經營基準繼續營運,本集團須作出調整以將資產的價值撇減至其可收回金額,以就可能產生的進一步負債計提撥備,並將非流動資產及非流動負債分別重新分類為流動資產及流動負債。該等調整的影響並未於該等綜合財務報表內反映。

綜合基準

綜合財務報表包括本公司的財務報表以及由本公司及其附屬公司控制的實體的財務報表。

本集團在下列情況下取得控制權:(i)可對投資對象行使權力;(ii)因參與投資對象業務而承擔可變回報的風險或享有可變回報的權利;及(iii)運用其對投資對象之權力影響本集團回報。

倘事實及情況顯示上文所列的一項或多項此類控制權元素有變,則本集團重新評估其是否控制投資對象。

本集團取得對附屬公司之控制權時開始將附屬公司綜合入賬,並於失去對附屬公司之控制權時終止綜合入賬。

附屬公司的損益及各個其他全面收益組成部分歸屬於本公司擁有人及非控制權益。附屬公司的全面收益總額歸屬於本公司擁有人及非控制權益,即使這將導致非控制權益出現虧絀結餘。

與本集團成員公司間交易有關之所有集團內實體間之資產及負債、權益、收入、開支及現金流量於綜合時悉數對銷。

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Business combinations

Acquisition of businesses are accounted for using the acquisition method. The consideration transferred in a business combination is measured at fair value, which is calculated as the sum of the acquisition-date fair values of the assets transferred by the Group, liabilities incurred by the Group to the former owners of the acquiree and the equity interests issued by the Group in exchange for control of the acquiree. Acquisition-related costs incurred to effect a business combination are recognised in profit or loss as incurred.

At the acquisition date, the identifiable assets acquired and the liabilities assumed are recognised at their fair value, except that:

• deferred tax assets or liabilities arising from the assets acquired and liabilities assumed in the business combination are recognised and measured in accordance with HKAS 12 Income Taxes;
• assets or liabilities related to the acquiree's employee benefit arrangements are recognised and measured in accordance with HKAS 19 Employee Benefits;
• liabilities or equity instruments related to share-based payment arrangements of the acquiree or share-based payment arrangements of the Group entered into to replace share-based payment arrangements of the acquiree are measured in accordance with HKFRS 2 at the acquisition date (see the accounting policy below);
• liabilities or equity instruments related to share-based payment arrangement of the acquiree or the replacement of the acquiree's share-based payment transactions with the share-based payment transactions of the Group are measured in accordance with HKFRS 2 Share-based Payment at the acquisition date (see the accounting policy below); and

3. 重大會計政策概要(續)

業務合併

收購業務採用收購法入賬。業務合併中所轉讓代價按公平值計量,而公平值乃按本集團所轉讓的資產、本集團向被收購方前擁有人承擔的負債及本集團為交換被收購方控制權發行的股權於收購日期的公平值之和計算。為實現業務合併而產生的收購相關成本通常在產生時於損益中確認。

於收購日期,所收購的可識別資產及所承擔的負債按其公平值計量,惟以下項目除外:

業務合併中所收購資產及所承擔負債產生的遞延稅項資產或負債根據香港會計準則第12號「所得稅」確認及計量;
與被收購方僱員福利安排有關的資產或負債根據香港會計準則第19號「僱員福利」確認及計量;
與被收購方以股份為基礎的付款安排有關的負債或股本工具或為取代被收購方以股份為基礎的付款安排而訂立的本集團以股份為基礎的付款安排乃於收購日期根據香港財務報告準則第2號計量(見下文會計政策);
與被收購方以股份為基礎的付款安排有關的負債或股本工具或以本集團的以股份為基礎的付款交易取代被收購方的以股份為基礎的付款交易乃於收購日期根據香港財務報告準則第2號「以股份為基礎的付款」計量(見下文會計政策);及

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Business combinations (continued)

• lease liabilities are recognised and measured at the present value of the remaining lease payments as if the acquired lease was a new lease at the acquisition date, except for leases for which (a) the lease term ends within 12 months of the acquisition date; or (b) the underlying asset is of low value. Right-of-use assets are recognised and measured at an amount equal to the lease liabilities, adjusted to reflect favourable or unfavourable terms of the lease when compared with market terms.

Goodwill is measured as the excess of the aggregate of the consideration transferred, the amount of any non-controlling interests in the acquiree, and the fair value of the Group's previously held equity interest in the acquiree (if any) over the net of the acquisition-date amounts of the identifiable assets acquired and the liabilities assumed. If, after reassessment, the net of the acquisition-date amounts of the identifiable assets acquired and liabilities assumed exceeds the aggregate of the consideration transferred, the amount of any non-controlling interests in the acquiree and the fair value of the acquirer's previously held interest in the acquiree (if any), the excess is recognised immediately in profit or loss as a bargain purchase gain.

Non-controlling interests, unless as required by another standards, are measured at acquisition-date fair value except for non-controlling interests that are present ownership interests and entitle their holders to a proportionate share of the entity's net assets in the event of liquidation are initially measured either at fair value or at the present ownership instruments' proportionate share in the recognised amounts of the acquiree's identifiable net assets.

3. 重大會計政策概要(續)

業務合併(續)

• 租賃負債按剩餘租賃付款的現值確認及計量,猶如所收購租賃於收購日期為新租賃,惟以下租賃除外:(a) 租賃期於收購日期起計12個月內屆滿;或(b)相關資產價值低。使用權資產按相等於租賃負債的金額確認及計量,並作出調整以反映較市場條款有利或不利的租賃條款。

商譽乃按所轉讓代價、被收購方的任何非控制權益金額以及本集團先前所持有被收購方股權的公平值(如有)的總和,超出所收購可識別資產及所承擔負債的淨收購日期金額的差額計量。倘經重新評估後,所收購可識別資產及所承擔負債的淨收購日期金額超出所轉讓代價、被收購方的任何非控制權益金額以及收購方先前所持有被收購方權益的公平值(如有)的總和,則差額即時於損益中確認為議價收購收益。

除非另有準則規定,否則非控制權益按收購日期公平值計量,惟屬於現時所有權權益並賦予持有人在清盤時按比例分佔實體淨資產之非控制權益,以公平值或以現時所有權工具按比例分佔被收購方可識別淨資產之已確認金額初步計量。

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Business combinations (continued)

When the consideration transferred by the Group in a business combination includes a contingent consideration arrangement, the contingent consideration is measured at its acquisition-date fair value and included as part of the consideration transferred in a business combination. Changes in the fair value of the contingent consideration that qualify as measurement period adjustments are adjusted retrospectively, with the corresponding adjustments made against goodwill. Measurement period adjustments are adjustments that arise from additional information obtained during the "measurement period" (which cannot exceed one year from the acquisition date) about facts and circumstances that existed at the acquisition date.

The subsequent accounting for the contingent consideration that do not qualify as measurement period adjustments depends on how the contingent consideration is classified. Contingent consideration that is classified as equity is not remeasured at subsequent reporting dates and its subsequent settlement is accounted for within equity. Contingent consideration that is classified as an asset or a liability is remeasured to fair value at each reporting date, and changes in fair value are recognised in profit or loss.

When a business combination is achieved in stages, the Group's previously held equity interest in the acquiree is remeasured to fair value at the acquisition date (i.e. the date when the Group obtains control), and the resulting gain or loss, if any, is recognised in profit or loss or other comprehensive income, as appropriate. Amounts arising from interests in the acquiree prior to the acquisition date that have previously been recognised in other comprehensive income and measured under HKFRS 9 would be accounted for on the same basis as would be required if the Group had disposed directly of the previously held equity interest.

If the initial accounting for a business combination is incomplete by the end of the reporting period in which the combination occurs, the Group reports provisional amounts for the items for which the accounting is incomplete. The provisional amounts recognised at the acquisition date are adjusted retrospectively during the measurement period (see above), and additional assets or liabilities are recognised, to reflect new information obtained about facts and circumstances that existed at the acquisition date that, if known, would have affected the amounts recognised at that date.

3. 重大會計政策概要(續)

業務合併(續)

倘本集團於業務合併中轉讓的代價包括或然代價安排,則或然代價按其於收購日期的公平值計量,並計作業務合併時所轉讓代價的一部分。符合資格作為計量期間調整的或然代價公平值變動需以追溯方式進行調整,並對商譽進行相應調整。計量期間調整是指於「計量期間」(不超出收購日期起計一年)因取得於收購日期已存在的事實及情況的額外資料而作出的調整。

不符合資格作為計量期間調整的或然代價的其後會計處理取決於或然代價如何分類。分類為權益的或然代價於其後報告日期不會重新計量,其後結算於權益內進行入賬處理。分類為資產或負債的或然代價於各報告日期重新計量至公平值,而公平值變動乃於損益中確認。

倘業務合併分階段完成,則本集團先前所持有被收購方的股權會重新計量至收購日期(即本集團取得控制權當日)的公平值, 而所產生的收益或虧損(如有)乃於損益或其他全面收益(如適用)確認。倘本集團已直接出售先前持有的股權,先前已於其他全面收益確認並根據香港財務報告準則第 9號計量的在收購日期前於被收購方的權益所產生的金額,將須按相同基準入賬。

倘業務合併的初步會計處理於合併發生的報告期末前仍未完成,則本集團會就仍未完成會計處理的項目呈報暫定金額。於收購日期確認的暫定金額於計量期間(見上文)內作出追溯調整,並確認額外資產或負債,以反映獲得有關於收購日期已存在事實及情況的新資料,而倘知悉該等資料,將會影響於當日確認的金額。

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Goodwill

Goodwill arising from a business combination is carried at cost less accumulated impairment losses, if any.

For the purposes of impairment testing, goodwill is allocated to each of the Group's cash-generating units (or groups of cash-generating units) that is expected to benefit from the synergies of the combination

A cash-generating unit (or groups of cash-generating units) to which goodwill has been allocated is tested for impairment annually or more frequently when there is indication that the unit may be impaired. For goodwill arising on an acquisition in a reporting period, the cash-generating unit (or groups of cash-generating units) to which goodwill has been allocated is tested for impairment before the end of that reporting period. If the recoverable amount of the cash-generating unit is less than its carrying amount, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit on a pro rata basis based on the carrying amount of each asset in the unit (or groups of cashgenerating units). Any impairment loss for goodwill is recognised directly in profit or loss. An impairment loss recognised for goodwill is not reversed in subsequent periods.

On disposal of the relevant cash-generating unit, the attributable amount of goodwill is included in the determination of the amount of profit or loss on disposal.

3. 重大會計政策概要(續)

商譽

因業務合併產生之商譽乃按成本減累計減值虧損(如有)列賬。

就減值測試而言,商譽分配至預期受益於合併協同效應之本集團各現金產生單位(或現金產生單位組別)。

獲分配商譽的現金產生單位(或現金產生單位組別)會每年進行減值測試,或於單位出現減值跡象時增加測試次數。就於某報告期間因收購產生的商譽而言,獲分配商譽的現金產生單位(或現金產生單位組別)於報告期末前進行減值測試。倘現金產生單位的可收回金額少於其賬面值,則減值虧損會首先分配以削減任何分配至該單位的商譽的賬面值,其後按各項資產所佔單位(或現金產生單位組別)的賬面值比例分配至該單位的其他資產。商譽之任何減值虧損直接於損益確認。就商譽確認之減值虧損不會於隨後期間撥回。

出售相關現金產生單位時,釐定出售損益金額時會計入商譽應佔金額。

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Revenue from contracts with customers

Revenue is recognised to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Specifically, the Group uses a 5-step approach to revenue recognition:

The Group recognised revenue when (or as) a performance obligation is satisfied, i.e. when "control" of the goods or services underlying the particular performance obligation is transferred to customers.

A performance obligation represents a good or service (or a bundle of goods or services) that is distinct or a series of distinct goods or services that are substantially same.

Control is transferred over time and revenue is recognised over time by reference to the progress towards complete satisfaction of the relevant performance obligation if one of the following criteria is met:

• The customer simultaneously receives and consumes the benefits provided by the Group's performance as the Group performs;
• The Group's performance creates or enhances an asset that the customer controls as the asset is created or enhanced; or
• The Group's performance does not create an asset with an alternative use to the Group and the Group has an enforceable right to payment for performance completed to date.

3. 重大會計政策概要(續)

客戶合約收入

本集團確認收入以述明向客戶移交已約定貨品或服務的金額,有關金額反映實體預期就向客戶交換該等貨品或服務有權收取的代價。具體而言,本集團採用五個收入確認步驟:

本集團於完成履約責任時(即當特定的履約責任涉及的貨品或服務的「控制權」轉移至客戶時)確認收入。

倘符合以下標準之一,則控制權隨時間轉移,而收入經參考相關履約責任的完成進度隨時間確認:

於本集團履約時,客戶同時收取及消耗本集團履約所提供的利益;
本集團的履約創建或提升客戶於該項資產被創建或提升時控制的資產; 或
本集團的履約並未創建對本集團具有替代用途的資產,而本集團有可強制執行權利以收取至今已完成履約部分的款項。

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Revenue from contracts with customers (continued)

Otherwise, revenue is recognised at a point in time when the customer obtains control of the distinct goods or service.

Revenue is measured based on the consideration specified in a contract with a customer, excludes amounts collected on behalf of third parties, discounts and sales related taxes.

Revenue from provision of internet advertising agency services, promotion of mobile game, and related services are recognised over the period in which the services are performed representing the entity's right to consideration for the services performed to date.

Revenue from performance based advertisements is recognised on a per-click basis when the users click on the content for pay for click advertisements, or on a per-display basis, when the advertising contents are displayed to users for pay for instant display advertisements.

Revenue from cryptocurrency mining is recognised when the Group's performance obligations as a miner has been rendered.

Revenue from cryptocurrency hosting is recognised when the services has been undertaken by the Group.

Revenue from sale of goods is recognised at the point when the control of the goods is transferred to customers.

Principal versus agent

When another party is involved in providing goods or services to a customer, the Group determines whether the nature of its promise is a performance obligation to provide the specified goods or services itself (i.e. the Group is a principal) or to arrange for those goods or services to be provided by the other party (i.e. the Group is an agent).

The Group is a principal if it controls the specified good or service before that good or service is transferred to a customer.

3. 重大會計政策概要(續)

客戶合約收入(續)

否則,收入於客戶取得明確貨品或服務控制權的時間點確認。

收入根據與客戶合約中指定的代價計量, 不包括代表第三方收回的款項、折扣及銷售相關稅項。

來自提供互聯網廣告代理服務、推廣手遊及相關服務之收入於提供該等服務期間確認,反映實體就迄今已履行服務收取代價的權利。

來自效果廣告收入於用戶點擊付費廣告內容時按每次點擊基準或向用戶播放就即時播放廣告付費之廣告內容時按每次播放基準確認。

加密貨幣採礦收入於本集團作為採礦商履行表現責任時確認。

加密貨幣託管收入於本集團已進行該等服務時確認。

來自銷售商品之收入於商品控制權轉移至客戶時於損益確認。

委託人與代理人

當另一方從事向客戶提供貨品或服務,本集團釐定其承諾之性質是否為提供指定貨品或服務本身之履約責任(即本集團為委託人)或安排由另一方提供該等貨品或服務(即本集團為代理人)。

倘本集團在向客戶轉讓貨品或服務之前控制指定貨品或服務,則本集團為委託人。

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Revenue from contracts with customers (continued)

Principal versus agent (continued)

The Group is an agent if its performance obligation is to arrange for the provision of the specified good or service by another party. In this case, the Group does not control the specified good or service provided by another party before that good or service is transferred to the customer. When the Group acts as an agent, it recognises revenue in the amount of any fee or commission to which it expects to be entitled in exchange for arranging for the specified goods or services to be provided by the other party.

Leases

Definition of a lease

A contract is, or contains, a lease if the contract conveys a right to control the use of an identified asset for a period of time in exchange for consideration.

The Group as lessee

For the contracts entered into or modified on or after the date of initial application, the Group assesses whether a contract is or contains a lease, at inception of the contract or modification date. The Group recognises a right-of-use asset and a corresponding lease liability with respect to all lease arrangements in which it is the lessee, except for short-term leases (defined as leases with a lease term of 12 months or less). For these leases, the Group recognises the lease payments as an operating expense on a straight-line basis over the term of the lease unless another systematic basis is more representative of the time pattern in which economic benefits from the leased assets are consumed.

3. 重大會計政策概要(續)

客戶合約收入(續)

委託人與代理人(續)

倘本集團之履約責任為安排另一方提供指定的貨品或服務,則本集團為代理人。在此情況下,在將貨品或服務轉讓予客戶之前,本集團不控制另一方提供的指定貨品或服務。當本集團為代理人時,應就為換取安排另一方提供的指定貨品或服務預期有權取得之任何收費或佣金之金額確認收入。

租賃

租賃定義

倘合約為換取代價而給予在一段時間內控制可識別資產使用的權利,則該合約為租賃或包含租賃。

本集團作為承租人

對於首次應用日期或之後訂立或修訂的合約,本集團於合約開始或修訂日期評估合約是否為租賃或包含租賃。本集團就其作為承租人的所有租賃安排確認使用權資產及相應的租賃負債,惟短期租賃(定義為租賃期為十二個月或以下的租賃)除外。就該等租賃而言,本集團於租賃期內以直線法確認租賃付款為經營開支,惟倘有另一系統化基準更能代表耗用租賃資產經濟利益的時間模式者則作別論。

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Leases (continued)

The Group as lessee (continued)

Lease liabilities

At the commencement date, the Group measures lease liability at the present value of the lease payments that are not paid at that date. The lease payments are discounted by using the interest rate implicit in the lease. If this rate cannot be readily determined, the Group uses its incremental borrowing rate.

Lease payments included in the measurement of the lease liability comprise:

• fixed lease payments (including in-substance fixed payments), less any lease incentives receivable; and
• payments of penalties for terminating the lease, if the lease term reflects the Group exercising an option to terminate the lease.

The lease liability is presented as a separate line in the financial position.

The lease liability is subsequently measured by increasing the carrying amount to reflect interest on the lease liability (using the effective interest method) and by reducing the carrying amount to reflect the lease payments made.

Lease liability is remeasured (and with a corresponding adjustment to the related right-of-use asset) whenever:

• the lease term has changed or there is a significant event or change in circumstances resulting in a change in the assessment of exercise of a purchase option, in which case the lease liability is remeasured by discounting the revised lease payments using revised discount rate.

3. 重大會計政策概要(續)

租賃(續)

本集團作為承租人(續)

租賃負債

於開始日期,本集團以於該日期尚未支付的租賃付款的現值計量租賃負債。該等租賃付款使用租賃中隱含的利率予以貼現。倘該利率不可輕易釐定,則本集團會採用其增量借貸利率。

計入租賃負債計量的租賃付款包括:

固定租賃付款(包括實質定額付款) 減任何應收租賃優惠;及
為終止租賃而支付的罰款(倘租賃條款反映本集團行使選擇權以終止租賃)。

租賃負債在財務狀況中單獨呈列。

租賃負債其後透過增加賬面值以反映租賃負債的利息(採用實際利率法)及透過減少賬面值以反映作出的租賃付款進行計量。

倘出現以下情況,租賃負債予以重新計量 (並就相關使用權資產作出相應調整):

• 租賃期有所變動或發生重大事件或情況有變導致行使購買選擇權的評估發生變化,在該情況下,租賃負債透過使用經修訂貼現率貼現經修訂租賃付款而重新計量。

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Leases (continued)

The Group as lessee (continued)

Lease liabilities (continued)

• the lease payments change due to changes in an index or rate or a change in expected payment under a guaranteed residual value, in which cases the lease liability is remeasured by discounting the revised lease payments using the initial discount rate (unless the lease payments change is due to a change in a floating interest rate, in which case a revised discount rate is used).
• a lease contract is modified and the lease modification is not accounted for as a separate lease, in which case the lease liability is remeasured by discounting the revised lease payments using a revised discount rate at the effective date of the modification.

The right-of-use assets comprise the initial measurement of the corresponding lease liability, lease payments made at or before the commencement date and any initial direct costs, less lease incentives received. Whenever the Group incurs an obligation for costs to dismantle and remove a leased asset, restore the site on which it is located or restore the underlying asset to the condition required by the terms and conditions of the lease, provision is recognised and measured under HKAS 37 Provision, Contingent Liabilities and Contingent Assets. The costs are included in the related right-of-use asset, unless those costs are incurred to produce inventories.

Right-of-use assets are subsequently measured at cost less accumulated depreciation and impairment losses and adjusted for any measurement of lease liabilities. They are depreciated over the shorter period of lease term and useful life of the underlying asset. The depreciation starts at the commencement date of the lease.

The Group presents right-of-use assets as a separate line item in the financial position.

The Group applies HKAS 36 Impairment of Assets to determine whether a right-of-use asset is impaired and accounts for any identified impairment loss.

3. 重大會計政策概要(續)

租賃(續)

本集團作為承租人(續)

租賃負債(續)

租賃付款因指數或利率變動或有擔保剩餘價值下預期付款變動而出現變動,在此情況下,租賃負債透過使用初始貼現率貼現經修訂租賃付款重新計量(除非租賃付款由於浮動利率改變而有所變動,在該情況下則使用經修訂貼現率)。
租賃合約已修訂且租賃修訂不作為一項單獨租賃入賬,在該情況下, 租賃負債透過使用於修訂生效日期的經修訂貼現率貼現經修訂租賃付款而重新計量。

使用權資產包括相應租賃負債、在開始日或之前支付的租賃付款以及任何初始直接成本的初始計量,減收取的租賃優惠。每當本集團產生拆除及移除租賃資產、恢復相關資產或將相關資產恢復至租賃條款及條件所規定狀態的成本責任時,將根據香港會計準則第37號「撥備、或然負債及或然資產」確認及計量撥備。成本計入相關使用權資產中,除非該等成本乃因生產存貨而產生。

使用權資產其後以成本減累計折舊及減值虧損計量,並就租賃負債的任何計量作出調整。使用權資產乃按租賃期及相關資產的可使用年期以較短者折舊。折舊於租賃開始日期開始計算。

本集團於財務狀況內將使用權資產作為單獨項目呈列。

本集團應用香港會計準則第36號「資產減值」釐定使用權資產是否已減值,並就任何已識別減值虧損入賬。

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Leases (continued)

The Group as lessee (continued)

Lease modification

Except for Covid-19-related rent concessions in which the Group applied the practical expedient, the Group accounts for a lease modification as a separate lease if:

• The modification increases the scope of the lease by adding the right to use one or more underlying assets; and
• The consideration for the lease increases by an amount commensurate with the stand-alone price for the increase in scope and any appropriate adjustments to that stand-alone price to reflect the circumstances of the particular contract.

For a lease modification that is not accounted for a separate lease, the Group remeasures the lease liability based on the lease term of the modified lease by discounting the revised lease payments using a revised discount rate at the effective date of the modification.

Foreign currencies

In preparing the financial statements of each individual group entity, transactions in currencies other than the functional currency of that entity (foreign currencies) are recorded in the respective functional currency (i.e. the currency of the primary economic environment in which the entity operates) at the rates of exchanges prevailing at the dates of the transactions. At the end of the reporting period, monetary items denominated in foreign currencies are retranslated at the rates prevailing at that date. Nonmonetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing at the date when the fair value was determined. Non-monetary items that are measured in terms of historical cost in a foreign currency are not retranslated.

3. 重大會計政策概要(續)

租賃(續)

本集團作為承租人(續)

租賃修訂

除本集團採用可行權宜方法的Covid-19相關租金減免外,倘出現以下情況,本集團會將租賃修訂作為一項單獨的租賃入賬:

該項修訂通過增加使用一項或多項相關資產的權利擴大了租賃範圍; 及
租賃代價增加,增加的金額相當於範圍擴大對應的單獨價格,加上為反映特定合約的情況而對單獨價格進行的任何適當調整。

就未作為一項單獨租賃入賬的租賃修訂而言,本集團透過使用修訂生效日期的經修訂貼現率貼現經修訂租賃付款,按經修訂租賃的租期重新計量租賃負債。

外幣

於編製各個別集團實體之財務報表時,以該實體功能貨幣以外之貨幣(外幣)進行的交易以各自的功能貨幣(即該實體營運所在的主要經濟環境通行之貨幣)按交易日期之現行匯率予以記錄。於報告期末,以外幣計值之貨幣項目按該日之現行匯率重新換算。以外幣計值並以公平值列賬之非貨幣項目按釐定公平值當日之現行匯率重新換算。以外幣計值並以歷史成本計量之非貨幣項目不作重新換算。

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Foreign currencies (continued)

Exchange differences arising on the settlement of monetary items, and on the retranslation of monetary items, are recognised in profit or loss in the period in which they arise, except for exchange differences arising on a monetary item that forms part of the net investment in a foreign operation, in which case, such exchange differences are recognised in other comprehensive income and accumulated in equity and will be reclassified from equity to profit or loss on disposal of the foreign operation. Exchange differences arising on the retranslation of non-monetary items carried at fair value are included in profit or loss for the period.

For the purposes of presenting the consolidated financial statements, the assets and liabilities of the Group's foreign operations are translated into the presentation currency of the Group (i.e. Hong Kong dollars) using exchange rates prevailing at the end of each reporting period. Income and expenses items are translated at the average exchange rates for the year, unless exchange rates fluctuate significantly during the period, in which case, the exchange rates prevailing at the dates of transactions are used. Exchange differences arising, if any, are recognised in other comprehensive income and accumulated in equity under the heading of exchange reserve (attributed to non-controlling interests as appropriate).

On the disposal of a foreign operation (i.e. a disposal of the Group's entire interest in a foreign operation, or a disposal involving loss of control over a subsidiary that includes a foreign operation, a disposal involving loss of joint control over a joint arrangement that includes a foreign operation, or a disposal involving loss of significant influence over an associate that includes a foreign operation), all of the exchange differences accumulated in equity in respect of that operation attributable to the owners of the Company are reclassified to profit or loss. In addition, in relation to a partial disposal of a subsidiary that does not result in the Group losing control over the subsidiary, the proportionate share of accumulated exchange differences are re-attributed to non-controlling interests and are not recognised in profit or loss. For all other partial disposals (i.e. partial disposals of associates or joint arrangements that do not result in the Group losing significant influence or joint control), the proportionate share of the accumulated exchange differences is reclassified to profit or loss.

3. 重大會計政策概要(續)

外幣(續)

結算及重新換算貨幣項目所產生之匯兌差額於產生之期間在損益確認,惟構成於海外業務淨投資之一部分的貨幣項目所產生之匯兌差額除外,在這種情況下,該匯兌差額在其他全面收益中確認及在權益中累計,並在出售海外業務時從權益重新分類至損益。重新換算以公平值計量的非貨幣項目產生之匯兌差額計入當期損益。

於呈列綜合財務報表時,本集團海外業務之資產及負債採用各報告期末之現行匯率換算為本集團之呈列貨幣(即港元)。收入及開支項目按期年之平均匯率換算,惟倘匯率於期內大幅波動,則使用交易日期之現行匯率。所產生之匯兌差額(如有)於其他全面收益確認,並於權益內之匯兌儲備下累計(酌情歸屬於非控制權益)。

於出售海外業務(即出售本集團於海外業務的全部權益,或出售涉及失去包含海外業務附屬公司的控制權,或出售涉及失去包含海外業務合營安排的共同控制權,或出售涉及失去包含海外業務聯營公司的重大影響力)時,於權益內就本公司擁有人應佔業務累計的所有匯兌差額重新分類至損益。此外,對於並不會導致本集團失去對該附屬公司控制權的部分出售,本集團在累計匯兌差額中的比例份額重新歸屬於非控制權益,且不計入損益。對於所有其他部分出售(即聯營公司或合營安排的部分出售不會導致本集團失去重大影響力或共同控制權),累計匯兌差額中的比例份額獲重新分類至損益。

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Borrowing costs

Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets until such time as the assets are substantially ready for their intended use or sale.

Investment income earned on the temporary investment of specific borrowings pending their expenditure on qualifying assets is deducted from the borrowing costs eligible for capitalisation.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Government grants

Government grants are not recognised until there is reasonable assurance that the Group will comply with the conditions attaching to them and that the grants will be received.

Government grants are recognised in profit or loss on a systematic basis over the periods in which the Group recognises as expenses the related costs for which the grants are intended to compensate. Specifically, government grants whose primary condition is that the Group should purchase, construct or otherwise acquire non-current assets are recognised as deferred income in the consolidated statement of financial position and transferred to profit or loss on a systematic and rational basis over the useful lives of the related assets

Government grants related to income that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the Group with no future related costs are recognised in profit or loss in the period in which they become receivable.

The benefit of a government loan at a below-market rate of interest is treated as a government grant, measured as the difference between proceeds received and the fair value of the loan based on prevailing market interest rates.

3. 重大會計政策概要(續)

借貸成本

直接歸屬於收購、建造或生產合資格資產 (即需要一段長時間方可供作擬定用途或出售之資產)之借貸成本計入該等資產成本,直至該資產大致上可供作擬定用途或出售時為止。

特定借貸用於合資格資產之前作為臨時投資所賺取的投資收入,應自合資格資本化的借貸成本中扣除。

所有其他借貸成本於產生期間在損益內確認。

政府補助

在合理保證本集團會遵守政府補助的附帶條件以及將會得到補助後,政府補助方予以確認。

政府補助於本集團確認有關補助擬抵銷之相關成本為支出期間按系統化基準於損益確認。具體而言,以要求本集團購買、建造或另行收購非流動資產為主要條件的政府補助乃於綜合財務狀況表確認為遞延收入,並於相關資產的使用年期內基於系統合理基準轉撥至損益。

與收入相關的政府補助是抵銷已產生的支出或虧損或旨在給予本集團即時財務支援 (而無未來有關成本)的應收款項,於有關補助成為應收款項期間在損益中確認。

按低於市場利率所取得的政府貸款收益視為政府補助,按已收款項與該項貸款根據現行市場利率計算的公平值之間的差額計算。

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Retirement benefits costs and termination benefits

Payments to state-managed retirement benefit schemes and the Mandatory Provident Fund Scheme are recognised as an expense when employees have rendered service entitling them to the contributions.

Short-term and other long-term employee benefits

A liability is recognised for benefits accruing to employees in respect of wages and salaries, annual leave and sick leave in the period the related service is rendered at the undiscounted amount of the benefits expected to be paid in exchange for that service.

Liabilities recognised in respect of short-term employee benefits are measured at the undiscounted amount of the benefits expected to be paid in exchange for the related service.

Liabilities recognised in respect of other long-term employee benefits are measured at the present value of the estimated future cash outflows expected to be made by the Group in respect of services provided by employees up to the reporting date.

Share-based payments

Equity settled share-based payment transactions

Share options granted to employees

Equity-settled share-based payments to employees and others providing similar services are measured at the fair value of the equity instruments at the grant date.

The fair value of services received determined by reference to the fair value of share options granted at the date of grant is expensed on a straight-line basis over the vesting period, with a corresponding increase in equity (share options reserve).

3. 重大會計政策概要(續)

退休福利成本及離職福利

支付給國家管理的退休福利計劃及強制性公積金計劃的付款在僱員提供服務使其有權獲得供款時確認為開支。

短期及其他長期僱員福利

有關工資及薪金、年假及病假之僱員應計福利乃於提供有關服務期間,按預期將就換取該服務而支付之未貼現福利金額確認負債。

就短期僱員福利確認之負債乃按預期將就換取有關服務而支付之未貼現福利金額計量。

就其他長期僱員福利確認之負債按本集團就僱員截至報告日期止所提供服務預期將作出之估計未來現金流出之現值計量。

以股份為基礎之付款

以權益結算以股份為基礎之付款交易

授予僱員之購股權

向僱員及提供類似服務之其他人士作出以權益結算以股份為基礎之付款乃於授出日期按權益工具之公平值計量。

已收取服務的公平值乃經參考於授出日期已授出購股權的公平值後釐定,乃按直線基準於歸屬期內支銷,並會在權益(購股權儲備)中作出相應增加。

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Share-based payments (continued)

Equity settled share-based payment transactions (continued)

Share options granted to employees (continued)

At the end of the reporting period, the Group revises its estimates of the number of options that are expected to ultimately vest. The impact of the revision of the original estimates during the vesting period, if any, is recognised in profit or loss such that the cumulative expense reflects the revised estimate, with a corresponding adjustment to share options reserve.

When share options are exercised, the amount previously recognised in share options reserve will be transferred to share premium. When the share options are forfeited after the vesting date or are still not exercised at the expiry date, the amount previously recognised in share options reserve will be transferred to retained earnings.

The dilutive effect of outstanding options is reflected as additional share dilution in the computation of earnings per share.

Share options granted to non-employees

Share options issued in exchange for goods or services are measured at the fair values of the goods or services received, unless that fair value cannot be reliably measured, in which case the goods or services received are measured by reference to the fair value of the share options granted. The fair values of the goods or services received are recognised as expenses, with a corresponding increase in equity (share options reserve), when the Group obtains the goods or when the counterparties render services, unless the goods or services qualify for recognition as assets.

3. 重大會計政策概要(續)

以股份為基礎之付款(續)

以權益結算以股份為基礎之付款交易(續)

授予僱員之購股權(續)

於報告期末,本集團修訂其對預期將最終歸屬購股權數目作出的估計。歸屬期內修訂原估計的影響(如有)乃於損益中確認, 致使累計開支反映經修訂估計,並對購股權儲備作出相應調整。

當購股權獲行使時,先前於購股權儲備確認的金額將轉撥至股份溢價。當購股權於歸屬日期後遭沒收或於屆滿日期仍未行使,先前於購股權儲備確認的金額將轉撥至保留盈利。

尚未行使購股權之攤薄影響乃在計算每股盈利時反映為額外股份攤薄。

授予非僱員之購股權

為換取貨品或服務發行之購股權按所收取貨品或服務之公平值計量,除非有關公平值能夠可靠計量,在此情況下,所收取貨品或服務乃參考已授出購股權之公平值計量。所收取貨品或服務之公平值於本集團取得有關貨品或交易對方提供服務時確認為開支,有關增長於權益(購股權儲備)確認,除非有關貨品或服務合資格確認為資產。

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from loss before tax as reported in the consolidated statement of profit or loss and other comprehensive income because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The Group's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on temporary differences between the carrying amounts of assets and liabilities in the consolidated financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible temporary difference to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. Such deferred tax assets and liabilities are not recognised if the temporary difference arises from goodwill or from the initial recognition (other than in a business combination) of other assets and liabilities in a transaction that affects neither the taxable profit nor the accounting profit.

Deferred tax liabilities are recognised for taxable temporary differences associated with investments in subsidiaries and associates, and interests in joint ventures, except where the Group is able to control the reversal of the temporary difference and it is probable that the temporary difference will not reverse in the foreseeable future. Deferred tax assets arising from deductible temporary differences associated with such investments and interests are only recognised to the extent that it is probable that there will be sufficient taxable profits against which to utilise the benefits of the temporary differences and they are expected to reverse in the foreseeable future.

The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

3. 重大會計政策概要(續)

稅項

所得稅開支指現行應繳稅項及遞延稅項之總和。

現行應繳稅項乃按本年度應課稅溢利計算。應課稅溢利與於綜合損益及其他全面收益表中所呈報的除稅前虧損不同,乃由於前者不包括其他年度之應課稅或可扣稅之收入或支出項目,並且不包括毋須課稅或不能扣稅之項目。本集團之當期稅項負債乃根據於報告期末已頒佈或實質頒佈之稅率計算。

遞延稅項乃按綜合財務報表之資產及負債賬面值與用於計算應課稅溢利相應稅基之暫時差額確認。遞延稅項負債通常就所有應課稅暫時差額確認。遞延稅項資產一般就所有可扣稅暫時差額於應課稅溢利可能用於抵銷該等可扣稅暫時差額時確認。若於一項交易中,因商譽或因初始確認(業務合併以外原因)其他資產及負債而引致之暫時差額既不影響應課稅溢利,亦不影響會計溢利,則不會確認該等遞延稅項資產及負債。

遞延稅項負債乃按於附屬公司及聯營公司之投資及於合營企業之權益所產生應課稅暫時差額予以確認,惟倘本集團可控制暫時差額之撥回及暫時差額有可能於可見未來不會撥回之情況除外。與該等投資及權益相關之可扣稅暫時差額所產生之遞延稅項資產僅於可能有足夠應課稅溢利可以使用暫時差額之利益且預計於可見未來可以撥回時確認。

遞延稅項資產之賬面值於各報告期末審閱,並於可能不再有足夠應課稅溢利收回該項資產全部或部分之情況下調低。

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Taxation (continued)

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset is realised, based on tax rate (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

The measurement of deferred tax liabilities and assets reflects the tax consequences that would follow from the manner in which the Group expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Deferred tax assets and liabilities are offset when there is a legally enforceable right to set off current tax assets against current tax liabilities and when they relate to income taxes levied by the same taxation authority and the Group intends to settle current tax liabilities and assets on a net basis.

For the purposes of measuring deferred tax for leasing transactions in which the Group recognises the right-of-use assets and the related lease liabilities, the Group first determines whether the tax deductions are attributable to the right-of-use assets or the lease liabilities.

For leasing transactions in which the tax deductions are attributable to the lease liabilities, the Group applies HKAS 12 Income Taxes requirements to right-of-use assets and lease liabilities separately. Temporary differences relating to right-of-use assets and lease liabilities are not recognised at initial recognition due to application of the initial recognition exemption.

Current and deferred tax are recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax are also recognised in other comprehensive income or directly in equity respectively. Where current tax or deferred tax arises from the initial accounting for a business combination, the tax effect is included in the accounting for the business combination.

3. 重大會計政策概要(續)

稅項(續)

遞延稅項資產及負債乃以預期於償還負債或變現資產期間應用之稅率,根據報告期末已頒佈或實質頒佈之稅率(及稅法)計量。

遞延稅項負債及資產之計量反映出於報告期末將依循本集團所預計收回資產或償還負債賬面值的方式之稅務後果。

倘有法定可執行權利將當期稅項資產及當期稅項負債抵銷,且彼等與同一稅務機構徵收之所得稅有關及本集團擬按淨額基準結算當期稅項負債及資產時,遞延稅項資產及負債則會抵銷。

為計量本集團確認使用權資產及有關租賃負債的租賃交易的遲延稅項,本集團首先會釐定稅項減免是否歸屬於使用權資產或租賃負債。

就稅項減免歸屬於租賃負債的租賃交易而言,本集團就使用權資產及租賃負債單獨應用香港會計準則第12號「所得稅」的規定。因應用初始確認豁免,於初始確認時不會確認與使用權資產及租賃負債有關的暫時差額。

當期及遞延稅項乃於損益確認,惟當與其他全面收益或直接於權益中確認之項目有關之情況下,當期及遞延稅項亦分別於其他全面收益或直接於權益中確認。若因業務合併而於初始會計處理時產生當期稅項或遞延稅項,有關稅務影響計入業務合併之會計處理內。

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Property, plant and equipment

Property, plant and equipment are stated in the consolidated statement of financial position at cost less subsequent accumulated depreciation and subsequent accumulated impairment losses, if any.

Depreciation is recognised so as to write off the cost of items of property, plant and equipment less their residual values over their estimated useful lives, using the straight-line method. The estimated useful lives, residual values and depreciation method are reviewed at the end of each reporting period, with the effect of any changes in estimate accounted for on a prospective basis.

An item of property, plant and equipment is derecognised upon disposal or when no future economic benefits are expected to arise from the continued use of the asset. Any gain or loss arising on the disposal or retirement of an item of property, plant and equipment is determined as the difference between the sales proceeds and the carrying amount of the asset and is recognised in profit or loss.

Inventories

Inventories are stated at the lower of cost and net realisable value. Costs of inventories are calculated using the first-in, first-out method. Net realisable value of inventories represents the estimated selling price in the ordinary course of business less the estimated costs of completion and costs necessary to make the sale.

Cash and cash equivalents

In the consolidated statement of financial position, cash and bank balances comprise cash (i.e. cash on hand and demand deposits) and cash equivalents. Cash equivalents are shortterm (generally with original maturity of three months or less), highly liquid investments that are readily convertible to a known amount of cash and which are subject to an insignificant risk of changes in value. Cash equivalents are held for the purpose of meeting short-term cash commitments rather for investment or other purposes.

Bank balances for which use by the Group is subject to third party contractual restrictions are included as part of cash unless the restrictions result in a bank balance no longer meeting the definition of cash. Contractual restrictions affecting use of bank balances are disclosed in note 21.

3. 重大會計政策概要(續)

物業、廠房及設備

物業、廠房及設備按成本減其後累計折舊及其後累計減值虧損(如有)於綜合財務狀況表列賬。

折舊已予確認,以於估計可使用年期內以直線法撇銷物業、廠房及設備項目成本減剩餘價值。估計可使用年期、剩餘價值及折舊方法於各報告期末予以檢討,而任何估計變動之影響按未來適用基準入賬。

物業、廠房及設備項目於出售時或當繼續使用該資產預期不會產生任何未來經濟利益時終止確認。出售物業、廠房及設備項目或有關項目報廢所產生之任何收益或虧損按該資產之銷售所得款項與賬面值之差額釐定,並於損益確認。

存貨

存貨乃按成本及可變現淨值兩者之較低者入賬。存貨成本乃採用先入先出法計算。存貨之可變現淨值指於日常業務過程中的估計售價,減完成之估計成本及進行銷售所需成本。

現金及現金等價物

於綜合財務狀況表中,現金及銀行結餘包括現金(即手頭現金及活期存款)及現金等價物。現金等價物屬短期(通常原到期日為三個月或更短),可隨時轉換為已知數額現金且價值變動風險不大的高流動性投資。現金等價物持作滿足短期現金承擔, 而非用於投資或其他目的。

本集團的使用受第三方合約限制的銀行結餘計入現金的一部分,除非有關限制導致銀行結餘不再符合現金的定義。影響銀行結餘使用的合約限制於附註21披露。

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Cash and cash equivalents (continued)

For the purpose of the consolidated statement of cash flows, cash and cash equivalents consist of cash and short-term deposits and assets similar in nature to cash, which are not restricted to use.

Assets held for sale

Non-current assets and disposal groups are classified as held for sale if their carrying amounts will be recovered principally through a sale transaction rather than through continuing use. Such classification requires the asset or the disposal group must be available for immediate sale in its present condition subject only to terms that are usual and customary for sales of such asset or disposal group and its sale is highly probable. Management must be committed to the sale, which should be expected to qualify for recognition as a completed sale within one year from the date of classification.

Non-current assets and disposal groups classified as held for sale are measured at the lower of their previous carrying amount and fair value less costs to sell, except for financial assets within the scope of HKFRS 9, which continue to be measured in accordance with the relevant accounting policies.

Financial instruments

Financial assets and financial liabilities are recognised in the consolidated statement of financial position when a group entity becomes a party to the contractual provisions of the instrument.

Financial assets and financial liabilities are initially measured at fair value, except for trade receivables arising from contracts with customers which are initially measured in accordance with HKFRS 15. Transaction costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities (other than financial assets or financial liabilities at fair value through profit or loss) are added to or deducted from the fair value of the financial assets or financial liabilities, as appropriate, on initial recognition. Transaction costs directly attributable to the acquisition of financial assets or financial liabilities at fair value through profit or loss are recognised immediately in profit or loss.

3. 重大會計政策概要(續)

現金及現金等價物(續)

就綜合現金流量表而言,現金及現金等價物包括現金及並無限制使用的短期存款及與現金性質相近的資產。

持作出售之資產

倘非流動資產及出售組別之賬面值將主要透過銷售交易而非透過持續使用而收回, 則會分類為持作出售。該分類要求資產或出售組別須可按現狀即時出售,並只受出售有關資產或出售組別之一般及慣常條款所限,而且達成出售的機會極高。管理層須承諾進行出售,而出售預期應可於分類日期起計一年內合資格確認為已完成出售。

分類為持作出售之非流動資產及出售組別乃按其過往賬面值與公平值減出售成本之較低者計量(惟香港財務報告準則第9號範圍內之金融資產除外),並繼續按照相關會計政策計量。

金融工具

當集團實體成為金融資產及金融負債合約條文之訂約方時,則於綜合財務狀況表確認該項工具。

金融資產及金融負債初始按公平值計量, 惟根據香港財務報告準則第15號初始計量客戶合約產生之貿易應收款項除外。收購或發行金融資產及金融負債(不包括透過損益按公平值列賬之金融資產或金融負債)直接應佔交易成本於初始確認時加入或自金融資產或金融負債的公平值扣除(如適用)。收購透過損益按公平值列賬之金融資產或金融負債直接應佔交易成本即時於損益確認。

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Financial instruments (continued)

Financial assets

All regular way purchases or sales of financial assets are recognised and derecognised on a trade date basis. Regular way purchases or sales are purchases or sales of financial assets that require delivery of assets within the time frame established by regulation or convention in the marketplace.

All recognised financial assets are subsequently measured in their entirety at either amortised cost or fair value, depending on the classification of the financial assets. Financial assets are classified, at initial recognition, as subsequently measured at amortised cost, fair value through other comprehensive income ("FVTOCI"), and fair value through profit or loss ("FVTPL").

The classification of financial assets at initial recognition depends on the financial asset's contractual cash flow characteristics and the Group's business model for managing them.

Financial assets at amortised cost (debt instruments)

The Group measures financial assets subsequently at amortised cost if both of the following conditions are met:

• The financial asset is held within a business model whose objective is to hold financial assets in order to collect contractual cash flows; and
• The contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.

Financial assets at amortised cost are subsequently measured using the effective interest method and are subject to impairment.

(i) Amortised cost and effective interest method

The effective interest method is a method of calculating the amortised cost of a debt instrument and of allocating interest income over the relevant period.

3. 重大會計政策概要(續)

金融工具(續)

金融資產

金融資產之所有常規買賣按買賣日期基準確認及終止確認。常規買賣指須於市場規例或慣例設定之時限內交付資產之金融資產買賣。

所有已確認金融資產其後均按攤銷成本或公平值(視金融資產類別而定)整體計量。金融資產於初步確認時分類,及其後按攤銷成本、透過其他全面收益按公平值(「透過其他全面收益按公平值」)及透過損益按公平值(「透過損益按公平值」)計量。

初步確認時的金融資產分類取決於金融資產的合約現金流特徵和本集團管理該等資產的業務模式。

按攤銷成本計量的金融資產(債務工具)

本集團僅會於同時符合以下兩項條件的情況下,方會計量其後按攤銷成本計量的金融資產:

金融資產由一個業務模式持有,而持有金融資產的目的為收取合約現金流量;及
金融資產的合約條款於指定日期產生的現金流量純粹為支付本金及未償還本金的利息。

按攤銷成本計量的金融資產其後採用實際利率法計量並可能出現減值。

(i) 攤銷成本及實際利率法

實際利率法乃計算債務工具的攤銷成本及於相關期間分配利息收入的方法。

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Financial instruments (continued)

Financial assets (continued)

Financial assets at amortised cost (debt instruments) (continued)

(i) Amortised cost and effective interest method (continued)

For financial assets, the effective interest rate is the rate that exactly discounts estimated future cash receipts (including all fees and points paid or received that form an integral part of the effective interest rate, transaction costs and other premiums or discounts) excluding expected credit losses, through the expected life of the debt instrument, or, where appropriate, a shorter period, to the gross carrying amount of the debt instrument on initial recognition.

The amortised cost of a financial asset is the amount at which the financial asset is measured at initial recognition minus the principal repayments, plus the cumulative amortisation using the effective interest method of any difference between that initial amount and the maturity amount, adjusted for any loss allowance. The gross carrying amount of a financial asset is the amortised cost of a financial asset before adjusting for any loss allowance.

Interest income is recognised using the effective interest method for debt instruments measured subsequently at amortised cost and at FVTOCI. For financial assets other than purchased or originated credit-impaired financial assets, interest income is calculated by applying the effective interest rate to the gross carrying amount of a financial asset, except for financial assets that have subsequently become creditimpaired (see below). For financial assets that have subsequently become credit-impaired, interest income is recognised by applying the effective interest rate to the amortised cost of the financial asset. If, in subsequent reporting periods, the credit risk on the credit-impaired financial instrument improves so that the financial asset is no longer credit-impaired, interest income is recognised by applying the effective interest rate to the gross carrying amount of the financial asset.

Interest income is recognised in profit or loss and is included in the "Other income, gains and losses, net" line item (note 7).

重大會計政策概要(續)

金融工具(續)

金融資產(續)

按攤銷成本計量的金融資產(債務工具) (續)

(i) 攤銷成本及實際利率法(續)

就金融資產而言,實際利率為將債務工具的預期年限(或(倘適用)較短的期間)內的估計未來現金收入(包括構成實際利率、交易成本及其他溢價或折讓的組成部分的已付或已收的所有費用及基點)(不包括預期信貸虧損)準確貼現至債務工具於初步確認時的總賬面值的利率。

金融資產的攤銷成本為金融資產在初始確認時計量的金額減本金償還額,加上使用實際利率法計算的初始金額與到期金額之間任何差額的累計攤銷,並就任何虧損撥備進行調整。金融資產的賬面總額為金融資產就任何虧損撥備作出調整前的攤銷成本。

就其後按攤銷成本及透過損益按公平值計量的債務工具而言,利息收入採用實際利率法確認。對於購買或原有信貸減值金融資產以外的金融資產,利息收入的計算方法是將實際利率應用於金融資產的賬面總額,但隨後成為信貸減值的金融資產除外(見下文)。對於其後成為信貸減值的金融資產,利息收入通過將實際利率應用於金融資產的攤銷成本確認。如在其後報告期內,信貸減值金融工具的信貸風險得到改善,使金融資產不再信貸減值,則利息收入通過將實際利率應用於金融資產的賬面總額確認。

利息收入在損益中確認,並計入「其他收入、收益及虧損淨額」項目(附註7)。

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Financial instruments (continued)

Financial assets (continued)

Impairment of financial assets and other items subject to impairment assessment under HKFRS 9

The Group recognises a loss allowance for expected credit losses on investments in debt instruments that are measured at amortised cost. The amount of expected credit losses is updated at each reporting date to reflect changes in credit risk since initial recognition of the respective financial instrument.

The Group always recognises lifetime ECL for trade receivables, deposits, prepayments and other receivables. The expected credit losses on these financial assets are estimated using a provision matrix based on the Group's historical credit loss experience, adjusted for factors that are specific to the debtors, general economic conditions and an assessment of both the current as well as the forecast direction of conditions at the reporting date, including time value of money where appropriate.

For all other financial instruments, the Group measures the loss allowance equal to 12-month ECL, unless when there has a significant increase in credit risk since initial recognition, the Group recognises lifetime ECL. The assessment of whether lifetime ECL should be recognised is based on significant increase in the likelihood or risk of a default occurring since initial recognition.

重大會計政策概要(續)

金融工具(續)

金融資產(續)

須根據香港財務報告準則第9號進行減值評估之金融資產及其他項目減值

本集團對按攤銷成本計量之債務工具投資的預期信貸虧損確認虧損撥備。預期信貸虧損金額於各報告日更新,以反映自初始確認各金融工具以來信貸風險的變化。

本集團一直就貿易應收款項、按金、預付款項及其他應收款項確認全期預期信貸虧損。該等金融資產的預期信貸虧損乃是根據本集團的歷史信貸虧損經驗採用撥備矩陣估計,並根據債務人特定的因素、一般經濟狀況以及對於報告日狀況的當前及預測方向(包括金錢的時間價值,倘適用)的評估作調整。

對於所有其他金融工具,本集團採用相當於12個月預期信貸虧損的方法計量虧損撥備,除非自初始確認以來信貸風險顯著增加,本集團則確認全期預期信貸虧損。評估應否確認全期預期信貸虧損乃基於自初次確認以來發生違約的可能性或風險有否顯著增加。

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Financial instruments (continued)

Financial assets (continued)

Impairment of financial assets and other items subject to impairment assessment under HKFRS 9 (continued)

Significant increase in credit risk

In assessing whether the credit risk on a financial instrument has increased significantly since initial recognition, the Group compares the risk of a default occurring on the financial instrument as at the reporting date with the risk of a default occurring on the financial instrument as at the date of initial recognition. In making this assessment, the Group considers both quantitative and qualitative information that is reasonable and supportable, including historical experience and forward-looking information that is available without undue cost or effort. Forward-looking information considered includes the future prospects of the industries in which the Group's debtors operate, obtained from economic expert reports, financial analysts, governmental bodies, relevant think-tanks and other similar organisations, as well as consideration of various external sources of actual and forecast economic information that relate to the Group's operations.

In particular, the following information is taken into account when assessing whether credit risk has increased significantly since initial recognition:

• an actual or expected significant deterioration in the financial instrument's external (if available) or internal credit rating;
• existing or forecast adverse changes in business, financial or economic conditions that are expected to cause a significant decrease in the debtor's ability to meet its debt obligations;
• an actual or expected significant deterioration in the operating results of the debtor;
• significant increases in credit risk on other financial instruments of the same debtor;

3. 重大會計政策概要(續)

金融工具(續)

金融資產(續)

須根據香港財務報告準則第9號進行減值評估之金融資產及其他項目減值(續)

信貸風險顯著增加

在評估自初始確認以來金融工具的信貸風險是否顯著增加時,本集團將於報告日期金融工具發生的違約風險與於初始確認日期金融工具發生的違約風險進行比較。在進行評估時,本集團會考慮合理且有理據的定量及定性資料,包括過往經驗及無需過多的成本或努力即可獲得的前瞻性資料。所考慮的前瞻性資料包括獲取自經濟專家報告、金融分析師、政府機構、相關智囊團及其他類似組織的本集團債務人經營所在行業的未來前景,以及本集團業務相關的實際及預測經濟資料的各種外部來源。

其中,在評估自初始確認以來信貸風險是否顯著增加時,會考慮以下資料:

金融工具外部(如有)或內部信貸評級實際或預期重大惡化;
預計會導致債務人履行其債務責任的能力大幅下降的業務、財務或經濟狀況的現有或預測的不利變化;
債務人經營業績的實際或預期顯著惡化;
同一債務人其他金融工具的信貸風險顯著增加;

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Financial instruments (continued)

Financial assets (continued)

Impairment of financial assets and other items subject to impairment assessment under HKFRS 9 (continued)

Significant increase in credit risk (continued)

• an actual or expected significant adverse change in the regulatory, economic, or technological environment of the debtor that results in a significant decrease in the debtor's ability to meet its debt obligations.

Irrespective of the outcome of the above assessment, the Group presumes that the credit risk on a financial asset has increased significantly since initial recognition when contractual payments are more than 30 days past due, unless the Group has reasonable and supportable information that demonstrates otherwise.

Despite the foregoing, the Group assumes that the credit risk on a debt instrument has not increased significantly since initial recognition if the debt instrument is determined to have low credit risk at the reporting date. A financial instrument is determined to have low credit risk if i) the financial instrument has a low risk of default, ii) the borrower has a strong capacity to meet its contractual cash flow obligations in the near term, and iii) adverse changes in economic and business conditions in the longer term may, but will not necessarily, reduce the ability of the borrower to fulfil its contractual cash flow obligations. The Group considers a debt instrument to have low credit risk when the asset has external credit rating of 'investment grade' in accordance with the globally understood definition or if an external rating is not available, the asset has an internal rating of 'performing'. Performing means that the counterparty has a strong financial position and there is no past due amounts.

3. 重大會計政策概要(續)

金融工具(續)

金融資產(續)

須根據香港財務報告準則第9號進行減值評估之金融資產及其他項目減值(續)

信貸風險顯著增加(續)

• 債務人的監管、經濟或技術環境中實際或預期的重大不利變化導致債務人履行其債務責任的能力大幅下降。

不論上述評估結果如何,本集團假定合約付款逾期超過30日時,金融資產的信貸風險自首次確認以來已顯著增加,除非本集團有合理及有理據的資料證明情況並非如此則當別論。

儘管存在上述情況,倘債務工具於報告日期釐定為具有低信貸風險,本集團假設債務工具的信貸風險自初始確認起並無大幅增加。倘i)金融工具違約風險偏低,ii)借款人有強大能力於短期滿足其合約現金流量責任及iii)較長期的經濟及業務狀況存在不利變動,惟未必會削弱借款人達成其合約現金流量責任的能力,則金融工具釐定為具有低信貸風險。當資產具有根據國際定義之外部「投資級別」信貸評級或(倘並無外部評級)資產具有內部「履約」級別, 則本集團視債務工具為信貸風險偏低。履約指交易對手具有強勁財務狀況且並無逾期款項。

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Financial instruments (continued)

Financial assets (continued)

Impairment of financial assets and other items subject to impairment assessment under HKFRS 9 (continued)

Significant increase in credit risk (continued)

For financial guarantee contracts, the date that the Group becomes a party to the irrevocable commitment is considered to be the date of initial recognition for the purposes of assessing the financial instrument for impairment. In assessing whether there has been a significant increase in the credit risk since initial recognition of a financial guarantee contract, the Group considers the changes in the risk that the specified debtor will default on the contract.

The Group regularly monitors the effectiveness of the criteria used to identify whether there has been a significant increase in credit risk and revises them as appropriate to ensure that the criteria are capable of identifying significant increase in credit risk before the amount becomes past due.

Definition of default

The Group considers the following as constituting an event of default for internal credit risk management purposes as historical experience indicates that receivables that meet either of the following criteria are generally not recoverable:

• When there is a breach of financial covenants by the debtor; or
• Information developed internally or obtained from external sources indicates that the debtor is unlikely to pay its creditors, including the Group, in full (without taking into account any collaterals held by the Group).

Irrespective of the above analysis, the Group considers that default has occurred when a financial asset is more than 90 days past due unless the Group has reasonable and supportable information to demonstrate that a more lagging default criterion is more appropriate.

3. 重大會計政策概要(續)

金融工具(續)

金融資產(續)

須根據香港財務報告準則第9號進行減值評估之金融資產及其他項目減值(續)

信貸風險顯著增加(續)

就財務擔保合約而言,本集團成為不可撤銷承諾的訂約方之日被視為就減值評估金融工具的初步確認日期。於評估自初步確認財務擔保合約以來信貸風險是否大幅增加時,本集團會考慮特定債務人將違約的風險變動。

本集團定期監察用以識別信貸風險是否顯著增加之準則之成效,並在適用情況下作出修訂,以確保有關準則能夠於款項逾期前識別信貸風險顯著增加。

違約之定義

本集團視下列各項為就內部信貸風險管理而言之違約事件,原因是過往經驗顯示符合下列任何準則之應收款項一般屬不可收回:

當債務人違反財務契諾時;或
內部生成或自外部取得之資料顯示債務人不大可能向其債權人(包括本集團)悉數還款(並無考慮本集團持有之任何抵押品)。

不論上文分析,本集團認為當金融資產逾期超過90日時,即屬發生違約,除非本集團有合理及有理據的資料證明較寬鬆的違約標準更為適用則當別論。

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Financial instruments (continued)

Financial assets (continued)

Impairment of financial assets and other items subject to impairment assessment under HKFRS 9 (continued)

Write-off policy

The Group writes off a financial asset when there is information indicating that the debtor is in severe financial difficulty and there is no realistic prospect of recovery, e.g. when the counterparty has been placed under liquidation or has entered into bankruptcy proceedings, or in the case of trade receivables, when the amounts are over 24 months past due, whichever occurs sooner. Financial assets written off may still be subject to enforcement activities under the Group's recovery procedures, taking into account legal advice where appropriate. Any recoveries made are recognised in profit or loss.

Measurement and recognition of expected credit losses

The measurement of expected credit losses is a function of the probability of default, loss given default (i.e. the magnitude of the loss if there is a default) and the exposure at default. The assessment of the probability of default and loss given default is based on historical data adjusted by forward-looking information as described above. As for the exposure at default, for financial assets, this is represented by the assets' gross carrying amount at the reporting date; for financial guarantee contracts, the exposure includes the amount drawn down as at the reporting date, together with any additional amounts expected to be drawn down in the future by default date determined based on historical trend, the Group's understanding of the specific future financing needs of the debtors, and other relevant forward-looking information.

For financial assets, the expected credit loss is estimated as the difference between all contractual cash flows that are due to the Group in accordance with the contract and all the cash flows that the Group expects to receive, discounted at the original effective interest rate.

3. 重大會計政策概要(續)

金融工具(續)

金融資產(續)

須根據香港財務報告準則第9號進行減值評估之金融資產及其他項目減值(續)

撇銷政策

倘有資料顯示債務人有嚴重財務困難且無實際可收回期望(例如對手方已進行清算或已進入破產程序)或(倘為貿易應收款項) 賬款逾期超過24個月(以較早發生者為準),本集團會撇銷金融資產。根據本集團收回程序並考慮法律建議(如適用),已撇銷金融資產可能仍受到執法活動約束。所作出的任何收回均於損益中確認。

預期信貸虧損的計量及確認

預期信貸虧損的計量為違約概率、違約虧損(即出現違約時的虧損幅度)及違約風險的函數。違約概率及違約虧損的評估乃按照歷史數據進行,並就上文所述的前瞻性資料作出調整。就金融資產而言,違約風險為該資產於報告日期的賬面總值;就財務擔保合約而言,風險包括於報告日期提取的款項連同基於歷史趨勢釐定的預期日後於違約日期之前將提取的任何額外款項、本集團對債務人特定的日後融資需求的了解及其他相關的前瞻性資料。

就金融資產而言,預期信貸虧損按根據合約應付本集團的所有合約現金流量與本集團預期將收取按最初實際利率貼現的所有現金流量之間的差額估算。

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Financial instruments (continued)

Financial assets (continued)

Impairment of financial assets and other items subject to impairment assessment under HKFRS 9 (continued)

Measurement and recognition of expected credit losses (continued)

For a financial guarantee contract, as the Group is required to make payments only in the event of a default by the debtor in accordance with the terms of the instrument that is guaranteed, the expected loss allowance is the expected payments to reimburse the holder for a credit loss that it incurs less any amounts that the Group expects to receive from the holder, the debtor or any other party.

If the Group has measured the loss allowance for a financial instrument at an amount equal to lifetime ECL in the previous reporting period, but determines at the current reporting date that the conditions for lifetime ECL are no longer met, the Group measures the loss allowance at an amount equal to 12-month ECL at the current reporting date, except for assets for which simplified approach was used.

The Group recognises an impairment gain or loss in profit or loss for all financial instruments with a corresponding adjustment to their carrying amount through a loss allowance account, except for investments in debt instruments that are measured at FVTOCI, for which the loss allowance is recognised in other comprehensive income and accumulated in the investment revaluation reserve, and does not reduce the carrying amount of the financial asset in the consolidated statement of financial position.

3. 重大會計政策概要(續)

金融工具(續)

金融資產(續)

須根據香港財務報告準則第9號進行減值評估之金融資產及其他項目減值(續)

預期信貸虧損的計量及確認(續)

就財務擔保合約而言,由於本集團僅在債務人違約的情況下須根據擔保工具的條款作出付款,預期虧損撥備為向持有人賠償所產生的信貸虧損的預期付款減去本集團預期將向持有人、債務人或任何其他方收取的任何款項。

倘本集團已於過往報告期間按相等於全期預期信貸虧損的金額計量金融工具的虧損撥備,惟於本報告日期釐定全期預期信貸虧損條件不再達成,則本集團於本報告日期會按相等於12個月預期信貸虧損的金額計量虧損撥備,惟運用簡化法的資產除外。

本集團於損益中確認所有金融工具的減值收益或虧損,並透過虧損撥備賬相應調整其賬面值,惟就透過其他全面收益按公平值計量的債務工具投資而言,虧損撥備於其他全面收益確認,並於投資重估儲備內累計,且不會在綜合財務狀況表內扣除金融資產的賬面值。

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Financial instruments (continued)

Financial assets (continued)

Derecognition of financial assets

The Group derecognises a financial asset only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership of the asset to another party. If the Group neither transfers nor retains substantially all the risks and rewards of ownership and continues to control the transferred asset, the Group recognises its retained interest in the asset and an associated liability for amounts it may have to pay. If the Group retains substantially all the risks and rewards of ownership of a transferred financial asset, the Group continues to recognise the financial asset and also recognises a collateralised borrowing for the proceeds received.

On derecognition of a financial asset measured at amortised cost, the difference between the asset's carrying amount and the sum of the consideration received and receivable is recognised in profit or loss.

Financial liabilities and equity instruments

Classification as debt or equity

Debt and equity instruments issued by a group entity are classified as either financial liabilities or as equity in accordance with the substance of the contractual arrangements and the definitions of a financial liability and an equity instrument.

Equity instruments

An equity instrument is any contract that evidences a residual interest in the assets of an entity after deducting all of its liabilities. Equity instruments issued by a group entity are recognised at the proceeds received, net of direct issue costs.

Repurchase of the Company's own equity instruments is recognised and deducted directly in equity. No gain or loss is recognised in profit or loss on the purchase, sale, issue or cancellation of the Company's own equity instruments.

3. 重大會計政策概要(續)

金融工具(續)

金融資產(續)

終止確認金融資產

僅當收取資產現金流量之合約權利屆滿, 或當本集團將金融資產及幾乎所有資產所有權之風險及回報轉讓至另一方時,本集團方會終止確認金融資產。倘本集團既無轉讓亦不保留資產所有權之絕大部分風險及回報,並繼續控制已轉讓資產,本集團將確認於該資產之保留權益及可能須支付之相關負債。倘本集團仍保留已轉讓金融資產所有權之絕大部分風險及回報,則將繼續確認該金融資產,並就已收所得款項確認有抵押借貸。

於終止確認按攤銷成本計量之金融資產時,資產賬面值與已收及應收代價之總和之差額於損益中確認。

金融負債及股本工具

分類為債務或股本

集團實體發行的債務及股本工具按合約安排之實質內容,以及金融負債及股本工具之定義而分類為金融負債或股本。

股本工具

股本工具乃證明於扣減其所有負債後於實體資產中擁有剩餘權益之任何合約。本公司發行之股本工具經扣除直接發行成本後按已收所得款項確認。

購回本公司本身之股本工具乃直接於權益內確認及扣除。並無於損益中確認購買、出售、發行或註銷本公司本身之股本工具之收益或虧損。

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Financial instruments (continued)

Financial liabilities and equity instruments (continued)

Financial liabilities

All financial liabilities are subsequently measured at amortised cost using the effective interest method.

Financial liabilities that arise when a transfer of a financial asset does not qualify for derecognition or when the continuing involvement approach applies, and financial guarantee contracts issued by the Group, are measured in accordance with the specific accounting policies set out below.

Financial liabilities subsequently measured at amortised cost

Financial liabilities that are not 1) contingent consideration of an acquirer in a business combination, 2) held-for-trading, or 3) designated as at FVTPL, are subsequently measured at amortised cost using the effective interest method.

The effective interest method is a method of calculating the amortised cost of a financial liability and of allocating interest expense over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash payments (including all fees and points paid or received that form an integral part of the effective interest rate, transaction costs and other premiums or discounts) through the expected life of the financial liability, or (where appropriate) a shorter period, to the amortised cost of a financial liability.

Derecognition of financial liabilities

The Group derecognises financial liabilities when, and only when, the Group's obligations are discharged, cancelled or they expire. The difference between the carrying amount of the financial liability derecognised and the consideration paid and payable, including any non-cash assets transferred or liabilities assumed, is recognised in profit or loss.

3. 重大會計政策概要(續)

金融工具(續)

金融負債及股本工具(續)

金融負債

所有金融負債其後採用實際利率法按攤銷成本計量。

於轉移並不符合資格作終止確認之金融資產或於應用持續參與方法時產生之金融負債以及本集團所發行之財務擔保合約均根據下文所載之指定會計政策計量。

其後按攤銷成本計量之金融負債

並非1)業務合併收購方之或然代價,2)持作買賣,或3)指定為透過損益按公平值列賬之金融負債其後使用實際利率法按攤銷成本計量。

實際利率法為計算金融負債攤銷成本及於有關期間內分配利息開支之方法。實際利率乃按金融負債預期年期或(倘適用)較短期間,將估計未來現金付款(包括組成實際利率一部分的所有已付或已收費用及基點、交易成本及其他溢價或折讓)準確貼現至金融負債攤銷成本之利率。

終止確認金融負債

本集團當且僅當其責任獲履行、取消或已到期時終止確認金融負債。終止確認的金融負債賬面值與已付及應付代價(包括任何已轉移非現金資產或已承擔負債)之差額於損益中確認。

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Financial instruments (continued)

Financial liabilities and equity instruments (continued)

Financial liabilities (continued)

Modification of financial liabilities

A substantial modification of the terms of an existing financial liability or a part of it (whether or not attributable to the financial difficulty of the Group) is accounted for as an extinguishment of the original financial liability and the recognition of a new financial liability. The Group considers that the terms are substantially different if the discounted present value of the cash flows under the new terms, including any fees paid net of any fees received and discounted using the original effective interest rate, is at least 10 per cent different from the discounted present value of the remaining cash flows of the original financial liability. Accordingly, such exchange of debt instruments or modification of terms is accounted for as an extinguishment, any costs or fees incurred are recognised as part of the gain or loss on the extinguishment. The exchange or modification is considered as non-substantial modification when such difference is less than 10 per cent.

Provisions

Provisions are recognised when the Group has a present obligation (legal or constructive) as a result of a past event, it is probable that the Group will be required to settle that obligation, and a reliable estimate can be made of the amount of the obligation.

Provisions are measured at the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation. When a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (where the effect of the time value of money is material).

3. 重大會計政策概要(續)

金融工具(續) 金融負債及股本工具(續)

金融負債(續)

修改金融負債

對現有金融負債或其部分條款的重大修改 (無論是否歸因於本集團的財務困難)入賬列作原始金融負債的終止和新金融負債的確認。本集團認為,倘新條款項下現金流量的貼現現值(包括已付任何費用扣除使用原實際利率收取及貼現的任何費用)與原金融負債剩餘現金流量的貼現現值至少有10%的差異,則條款存在重大差異。因此,有關債務工具的交換或條款的修改入賬列作終止,所產生的任何成本或費用被確認為終止時損益的一部分。當差異少於10%時,交換或修改被視為非重大修改。

撥備

當本集團因過往事件而須承擔現時責任(法律或推定),且本集團可能須了結該責任, 並可就該責任金額作出可靠估計,則確認撥備。

於計及有關責任的風險及不明朗因素後, 撥備按了結報告期末的現時責任所需代價的最佳估計計量。倘使用估計用以了結現時責任的現金流量計量撥備,則該撥備賬面值為該等現金流量現值(如貨幣時間價值的影響屬重大)。

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Impairment losses on non-financial assets other than goodwill

At the end of the reporting period, the Group reviews the carrying amounts of its property, plant and equipment and right-of-use assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss, if any. When it is not possible to estimate the recoverable amount of an individual asset, the Group estimates the recoverable amount of the cash-generating unit to which the asset belongs. When a reasonable and consistent basis of allocation can be identified, corporate assets are also allocated to individual cash-generating unit, or otherwise they are allocated to the smallest group of cash-generating units for which a reasonable and consistent allocation basis can be identified

Intangible assets with indefinite useful lives and intangible assets not yet available for use are tested for impairment at least annually, and whenever there is an indication that they may be impaired.

Recoverable amount is the higher of fair value less costs of disposal and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

3. 重大會計政策概要(續)

商譽以外之非金融資產的減值虧損

本集團於報告期末審閱其物業、廠房及設備以及使用權資產之賬面值,以釐定是否有任何跡象顯示該等資產已出現減值虧損。如存在任何有關跡象,則會估計相關資產之可收回金額以釐定減值虧損之程度 (如有)。倘無法估計個別資產的可收回金額,則本集團會估計該資產所屬現金產生單位的可收回金額。倘可確定合理貫徹的分配基準,公司資產亦分配至個別現金產生單位,否則將分配至可確定合理貫徹分配基準的最小現金產生單位組別。

本集團於報告期末審閱其物業、廠房及設備以及使用權資產之賬面值,以釐定是否有任何跡象顯示該等資產已出現減值虧損。如存在任何有關跡象,則會估計相關資產之可收回金額以釐定減值虧損之程度 (如有)。倘無法估計個別資產的可收回金額,則本集團會估計該資產所屬現金產生單位的可收回金額。倘可確定合理貫徹的分配基準,企業資產亦分配至個別現金產生單位,否則將分配至可確定合理貫徹分配基準的最小現金產生單位組別。

可使用年期無限之無形資產及尚未可供使用之無形資產至少每年一次以及於存在可能減值之跡象時進行減值測試。

可收回金額為公平值減出售成本及使用價值之較高者。於評估使用價值時,估計未來現金流量會採用反映現時市場對貨幣時間價值及資產(並未調整估計未來現金流量)特定風險之評估之稅前貼現率貼現至其現值。

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Impairment losses on non-financial assets other than goodwill (continued)

If the recoverable amount of an asset (or a cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or the cash-generating unit) is reduced to its recoverable amount. For corporate assets or portion of corporate assets which cannot be allocated on a reasonable and consistent basis to a cash-generating unit, the Group compares the carrying amount of a group of cash-generating units, including the carrying amounts of the corporate assets or portion of corporate assets allocated to that group of cash-generating units, with the recoverable amount of the group of cash-generating units. In allocating the impairment loss, the impairment loss is allocated first to reduce the carrying amount of any goodwill (if applicable) and then to the other assets on a pro-rata basis based on the carrying amount of each asset in the unit or the group of cash-generating units. The carrying amount of an asset is not reduced below the highest of its fair value less costs of disposal (if measurable), its value in use (if determinable) and zero. The amount of the impairment loss that would otherwise have been allocated to the asset is allocated pro rata to the other assets of the unit or the group of cashgenerating units. An impairment loss is recognised immediately in profit or loss.

Where an impairment loss subsequently reverses, the carrying amount of the asset (or the cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or the cash-generating unit) in prior years. A reversal of an impairment loss is recognised as income immediately.

3. 重大會計政策概要(續)

商譽以外之非金融資產的減值虧損(續)

倘估計資產(或現金產生單位)之可收回金額少於其賬面值時,資產(或現金產生單位)之賬面值被削減至其可收回金額。就不可按合理貫徹之基準分配至現金產生單位之企業資產或部分企業資產而言,本集團會將現金產生單位組別之賬面值(包括分配至該現金產生單位組別之企業資產或部分企業資產之賬面值)與該現金產生單位組別之可收回金額進行比較。於分配減值虧損時,減值虧損首先分配至削減任何商譽之賬面值(如適用),然後根據該單位或現金產生單位組別中各資產賬面值按比例分配至其他資產。資產賬面值不得削減至低於其公平值減出售成本(如可計量)、其使用價值(如可釐定)及零之中的最高值。已另行分配至資產之減值虧損金額按比例分配至該單位或現金產生單位組別之其他資產。減值虧損即時於損益確認。

倘減值虧損其後撥回,則該資產(或現金產生單位)之賬面值會增加至重新估計之可收回金額,惟所增加之賬面值不得超過資產(或現金產生單位)倘於過往年度並無確認減值虧損而本應釐定之賬面值。減值虧損之撥回即時確認為收入。

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Fair value measurement

When measuring fair value except for the Group's sharebased payment transactions and leasing transactions, the Group takes into account the characteristics of the asset or liability if market participants would take those characteristics into account when pricing the asset or liability at the measurement date.

A fair value measurement of a non-financial asset takes into account a market participant's ability to generate economic benefits by using the asset in its highest and best use or by selling it to another market participant that would use the asset in its highest and best use.

The Group uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximizing the use of relevant observable inputs and minimizing the use of unobservable inputs. Specifically, the Group categorized the fair value measurements into three levels, based on the characteristics of inputs, as follow:

Level 1 Quoted (unadjusted) market prices in active markets for identical assets or liabilities.
Level 2 Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observable.
Level 3 Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable.

At the end of the reporting period, the Group determines whether transfer occur between levels of the fair value hierarchy for assets and liabilities which are measured at fair value on recurring basis by reviewing their respective fair value measurement.

3. 重大會計政策概要(續)

公平值計量

計量公平值時,倘市場參與者於計量日期為該資產或負債定價時考慮其特色,則本集團會考慮該資產或負債之特色,惟本集團以股份為基礎之付款交易及租賃交易除外。

非金融資產的公平值計量計入市場參與者透過將資產以其最高效及最佳用途使用或將其出售予另一市場參與者將資產以其最高效及最佳用途使用以創造經濟效益的能力。

本集團採用適用於不同情況且具備充分數據以供計量公平值之估值技術,以盡量使用相關可觀察輸入數據及盡量減少使用不可觀察輸入數據。具體而言,本集團根據輸入數據之特徵將公平值計量歸入以下三個層級:

第一級相同資產或負債於活躍市場中所報之未經調整市場價格。
第二級對公平值計量而言屬重要之最低層級輸入數據可直接或間接觀察之估值技術。
第三級對公平值計量而言屬重要之最低層級輸入數據不可觀察之估值技術。

於報告期末,本集團透過審閱資產及負債各自之公平值計量,釐定按經常性基準按公平值計量的資產及負債之公平值層級之間有否發生轉撥。

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

4. SIGNIFICANT ACCOUNTING JUDGEMENTS AND ESTIMATES

In the application of the Group's accounting policies, which are described in note 4, the directors of the Company are required to make judgements, estimates and assumptions about the amounts of assets, liabilities, revenue and expenses reported and disclosures made in the consolidated financial statements. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Critical judgements in applying accounting policies

The following are the critical judgements, apart from those involving estimations (see below), that the directors of the Company have made in the process of applying the Group's accounting policies and that have the most significant effect on the amounts recognised and disclosures made in the consolidated financial statements.

Significant increase in credit risk

As explained in note 3, the Group measures the loss allowance equal to 12-month ECL for financial assets other than trade receivables, unless when there has been a significant increase in credit risk since initial recognition, in which case the Group recognises lifetime ECL. In assessing whether the credit risk of an asset has significantly increased, the Group takes into account qualitative and quantitative reasonable and supportable forward-looking information.

4. 重大會計判斷及估計

本公司董事於應用本集團之會計政策(於附註4載述)時,須就綜合財務報表所呈報之資產、負債、收入及開支金額以及所作之披露作出判斷、估計及假設。估計及相關假設乃根據過往經驗及其他被視為相關之因素作出。實際結果可能會有別於該等估計。

估計及相關假設會持續進行檢討。倘會計估計之修訂僅影響對估計作出修訂之期間,修訂會於該期間確認,或倘修訂同時影響現時及未來期間,則會於修訂期間及未來期間確認。

應用會計政策時的重要判斷

以下為本公司董事在採用本集團會計政策過程中所作出對綜合財務報表所確認之金額及所作之披露具最重大影響之重要判斷 (涉及估計之判斷(見下文)除外)。

信貸風險顯著增加

誠如附註3所說明,本集團就金融資產(貿易應收款項除外)按相等於12個月預期信貸虧損之虧損撥備計量,除非信貸風險自初始確認以來顯著增加,在此情況下,本集團確認全期預期信貸虧損。評估一項資產的信貸風險是否顯著增加時,本集團將考慮合理可依的定量前瞻性資料及定性前瞻性資料。

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

4. SIGNIFICANT ACCOUNTING JUDGEMENTS AND ESTIMATES (continued)

Critical judgements in applying accounting policies (continued)

Accounting of digital assets transactions and balances

There is currently no specific definitive guidance in HKFRSs for the accounting of digital assets transactions and balances. Accordingly, for the preparation of the Group's consolidated financial statements, management needs to apply judgement in determining the appropriate accounting policies based on the existing accounting framework and the facts and circumstances of the Group's digital assets business. According to the business model of the Group, management has determined that revenues from mining operations are recognised when the cryptocurrency arising from the mining operations are received by the Group and are measured based on the estimated fair value of the cryptocurrency received with reference to its market price as quoted by reputable cryptocurrency pricing aggregator, with the cryptocurrency recognised as an intangible asset and initially measured at such estimated fair value deemed to be its cost.

Key sources of estimation uncertainty

The following are the key assumptions concerning the future, and other key sources of estimation uncertainty at the end of the reporting period, that have a significant risk of resulting in a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Useful lives of property, plant and equipment

The Group determines the estimated useful lives, residual values and related depreciation or amortisation charges for the Group's property, plant and equipment. This estimate is based on the historical experience of the actual useful lives and residual values of property, plant and equipment of similar nature and functions. The Group will revise the depreciation or amortisation charge where useful lives and residual values are different to those previously estimated, or it will write-off or write-down technically obsolete or nonstrategic assets that have been abandoned.

Details regarding the useful lives of property, plant and equipment are disclosed in notes 15, respectively.

4. 重大會計判斷及估計(續)

應用會計政策時的重要判斷(續)

數字資產交易及結餘的會計處理方式

目前,香港財務報告準則並無就數字資產交易及結餘的會計處理方式列出明確指引。因此,就編製本集團的綜合財務報表而言,管理層於釐定適當會計政策時須根據現有會計框架以及本集團數字資產業務的事實及情況行使判斷。根據本集團的業務模式,管理層已釐定採礦業務所得收入於本集團收到採礦營運所產生的加密貨幣時確認,並經參考知名加密貨幣定價編彙器所報市價後按所得加密貨幣的估計公平值計量,加密貨幣確認為無形資產,並初步按有關估計公平值視為其成本計量。

估計不確定性之主要來源

以下為有重大風險會導致須對下一個財政年度的資產及負債賬面值作出重大調整的有關未來的主要假設以及於報告期末的其他估計不確定性之主要來源。

物業、廠房及設備使用年期

本集團會釐定本集團物業、廠房及設備之估計可使用年期、剩餘價值及相關折舊或攤銷費用。該估計乃根據類似性質及功能之物業、廠房及設備實際可使用年期及剩餘價值之過往經驗得出。當可使用年期及剩餘價值與原先估計者不同時,本集團將對折舊或攤銷費用進行調整,或撇銷或撇減技術過時或已淘汰之非策略資產。

有關物業、廠房及設備之可使用年期的詳情分別於附註15披露。

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

4. SIGNIFICANT ACCOUNTING JUDGEMENTS AND ESTIMATES (continued)

Key sources of estimation uncertainty (continued)

Impairment of property, plant and equipment and right-of-use assets

The Group regularly reviews whether there are any indications of impairment of property, plant and equipment and right-of-use assets and will recognise an impairment loss if the carrying amount of an asset is lower than its recoverable amount which is the higher of its fair value less cost of disposal or its value-in-use. In determining whether an asset is impaired, the Group has to exercise judgment and make estimation, particularly in assessing whether an event has occurred or any indicators that may affect the asset value.

The calculation of the fair value less cost of disposal is based on available data from binding sales transactions in an arm's length transaction of similar assets or observable market prices less incremental costs for disposing of the asset. If there is no binding sale agreement or active market for that asset (or asset group), management will make reference to the best information available to reflect the amount that an entity could obtain at the end of the reporting period. In determining the value-in-use, the Group assesses the present value of the estimated future cash flows expected to arise from the continuing use of the asset and from its disposal at the end of its useful life. Estimates and judgements are applied in determining these future cash flows and the discount rate. The Group estimates the future cash flows based on certain assumptions, such as market competition and development and the expected growth in business.

Changes in these assumptions and estimates could have a material effect on the determination of the recoverable amounts of the assets. Where the actual results are less than expected, additional impairment losses, if any, may arise.

As at 30 June 2023 and 30 June 2022, the net carrying amounts and details of impairment of the Group's property, plant and equipment and right-of-use assets are disclosed in notes 15 and 16 respectively.

4. 重大會計判斷及估計(續)

估計不確定性之主要來源(續)

物業、廠房及設備以及使用權資產減值

本集團定期檢討物業、廠房及設備以及使用權資產有否任何減值跡象,倘資產的賬面值低於其可收回金額(以公平值減出售成本或使用價值兩者的較高者為準),本集團將會確認減值虧損。於釐定資產有否減值時,本集團須行使判斷並作出估計, 特別是於評估有否發生事件或存在任何可能影響資產價值的跡象時。

計算公平值減出售成本時,按以公平交易基準就類似資產進行具約束力的出售交易的可供使用數據,或可觀察市價減出售資產的增加成本得出。倘並無具約束力的出售協議或該資產(或資產組別)的活躍市場,管理層將參考可供使用的最佳資料, 以反映實體於報告期末可取得的金額。釐定使用價值時,本集團評估持續使用資產及於資產可使用年期結束時出售預期產生的估計未來現金流量的現值。釐定該等未來現金流量及貼現率時採用估計及判斷。本集團根據若干假設(如市場競爭及發展以及預期業務增長)估計未來現金流量。

該等假設及估計變動可能對資產的可收回金額釐定造成重大影響。倘實際結果低於預期,則可能出現額外減值虧損(如有)。

於二零二三年六月三十日及二零二二年六月三十日,本集團物業、廠房及設備以及使用權資產的賬面淨值及減值詳情分別於附註15及16披露。

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

4. SIGNIFICANT ACCOUNTING JUDGEMENTS AND ESTIMATES (continued)

Key sources of estimation uncertainty (continued)

Estimated impairment of goodwill

The Group determines whether goodwill is impaired at least on an annual basis. Determining whether goodwill is impaired requires an estimation of the recoverable amount of the cash-generating unit (or group of cash-generating units) to which goodwill has been allocated, which is the higher of the value-in-use or fair value less costs of disposal, and details of the value-in-use and fair value less costs of disposal are described above.

The value-in-use calculation requires the Group to estimate the future cash flows expected to arise from the cashgenerating unit (or a group of cash-generating units) and a suitable discount rate in order to calculate the present value. Where the actual cash flows are less than expected, or change in facts and circumstances which results in downward revision of future cash flows or upward revision of discount rate, a material impairment loss or further impairment loss may arise.

As at 30 June 2023 and 30 June 2022, the net carrying amounts of the Group's goodwill and details of the recoverable amount calculation are disclosed in note 17.

4. 重大會計判斷及估計(續)

估計不確定性之主要來源(續)

商譽估計減值

本集團按年釐定商譽是否減值。釐定商譽是否減值需估計獲分配商譽的現金產生單位(或現金產生單位組別)的可收回金額, 即使用價值或公平值減出售成本的較高者,而使用價值及公平值減出售成本之詳情如上述。

使用價值計算要求本集團估計預期自現金產生單位(或現金產生單位組別)產生的未來現金流量及合適貼現率以計算現值。倘實際現金流量低於預期,或事實及情況變化導致未來現金流量下調或貼現率上調, 則可能出現重大減值虧損或進一步減值虧損。

於二零二三年六月三十日及二零二二年六月三十日,本集團商譽之賬面淨值及可收回金額計算方法之詳情於附註17披露。

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

4. SIGNIFICANT ACCOUNTING JUDGEMENTS AND ESTIMATES (continued)

Key sources of estimation uncertainty (continued)

Provision of ECL for trade receivables, and advance payment to suppliers

Trade receivables and advance payment to suppliers included in prepayments with significant balances and credit-impaired are assessed for ECL individually. In addition, the Group uses provision matrix to calculate ECL for the trade receivables which are individually insignificant. In addition, the Group uses practical expedient in estimating ECL on trade receivables which are not assessed individually using a provision matrix. The provision rates are based on aging of the debtors as groupings of various debtors taking into consideration of the Group's historical default rates and forward-looking information that is reasonable and supportable available without undue costs or effort. At every reporting date, the historical observed default rates are reassessed and changes in the forward-looking information are considered.

The provision of ECL is sensitive to changes in estimates. The Group's trade receivables and advance payment to suppliers included in prepayments and information about the ECL are disclosed in notes 18, 19 and 30, respectively.

Income tax and deferred tax

The Group is mainly subject to income tax in Hong Kong and the PRC. Significant estimates are required in determining the provision for income tax. There are some transactions and calculations for which the ultimate tax determination is uncertain during the ordinary course of business. Where the final tax outcome of these matters is different from the amounts that were initially recorded, such differences will impact the income tax and deferred tax provisions in the year in which such determination is made.

4. 重大會計判斷及估計(續)

估計不確定性之主要來源(續)

貿易應收款項及向供應商墊付款項預期信貸虧損撥備

具有重大結餘且已出現信貸減值的貿易應收款項及計入預付款項之向供應商墊付款項單獨進行預期信貸虧損評估。此外,本集團使用撥備矩陣計算單獨金額並不重大的貿易應收款項之預期信貸虧損。此外, 本集團使用實際權宜方法估計並無單獨使用撥備矩陣進行評估之貿易應收款項的預期信貸虧損。撥備率乃基於多個債務人分組的債務人賬齡而定,當中考慮到本集團的過往違約率及毋須付出過多成本或努力即可獲得的合理及有理據之前瞻性資料。於各報告日期會重新評估過往觀察違約率,並考慮前瞻性資料變動。

預期信貸虧損撥備對估計變動比較敏感。本集團貿易應收款項及計入預付款項之向供應商墊付款項及有關預期信貸虧損的資料分別於附註18、19及30披露。

所得稅及遞延稅項

本集團主要須繳納香港及中國所得稅。釐定所得稅撥備時須作出重大估計。於日常業務過程中有若干不能確定最終稅項的交易及計算。倘該等事項的最終稅務結果與初始記錄的金額不同,該等差額將影響於釐定年度的所得稅及遞延稅項撥備。

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

5. REVENUE

Revenue represents revenue arising on internet advertising agency service and digitalization empowerment platform business for the year. An analysis of the Group's revenue for the year from continuing operations is as follows:

(i) Disaggregated revenue information

5. 收入

收入指年內互聯網廣告代理服務及數字化產業賦能平台業務所產生的收入。年內, 本集團持續經營業務收入分析如下:

(i) 收入分拆資料

		2023 二零二三年 HK\$'000 千港元	2022 二零二二年 HK\$'000 千港元
Revenue from contracts with customers within the scope of HKFRS 15	香港財務報告準則第15號範圍內的客戶合約收入
Internet advertising agency services Cryptocurrency mining revenue Cryptocurrency hosting revenue Vending machine income Gold trading	互聯網廣告代理服務加密貨幣採礦收入加密貨幣託管收入自動販賣機收入黃金貿易	39,041 – – 2,075 28,846	39,649 5,081 1,712 – –
		69,962	46,442
Timing of revenue recognition	收入確認時間
At a point in time Over time	於時間點隨時間	30,921 39,041	5,081 41,361
		69,962	46,442

(ii) Revenue expected to recognised in the future arising from contracts with customers in existence at the reporting date

The Group has applied the practical expedient in HKFRS 15 to all its contracts such that no information regarding revenue expected to be recognised in the future arising from contracts with customers in existence at the reporting date is disclosed because either the remaining performance obligation is part of a contract that has an original expected duration of one year or less or the Group recognises revenue at the amount to which it has a right to invoice, which corresponds directly to the value to the customer of the Group's performance completed to date.

(ii) 於報告日期預計於未來確認的現有客戶合約收入

本集團已將香港財務報告準則第15 號的實際權宜方法應用於其所有合約,故概無披露於報告日期預計於未來確認的現有客戶合約收入之相關資料,此乃由於剩餘履約義務構成原預期存續期為一年或以下之合約的一部分,或本集團按其有權開具發票的金額確認收入,該金額與本集團迄今為止已完成履約對客戶的價值直接掛鈎。

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

5. REVENUE (continued)

(iii) Performance obligations

Internet advertising agency services

Cryptocurrency mining revenue

The Group has undertaken the performance obligations of providing computing power, mainly through the Group's machineries and equipment, to mining pools in exchange for non-cash consideration in the form of cryptocurrency. Revenue from cryptocurrency mining is measured based on the estimated fair value of the cryptocurrency received with reference to its market price as quoted by reputable cryptocurrency pricing aggregator at the date when the revenue is recognised.

Cryptocurrency hosting revenue

The Group has entered into hosting contracts with customers under which the Group operates customers' mining equipment within its facilities. Revenue from hosting contracts is measured as the Group meets its obligations of operating the hosted equipment over time.

Sales of goods

Revenue from vending machine is recognised at the point when the customer take physical possession of the products at the vending machines.

Revenue from sales of gold is recognised when the customer take physical possession of the products, which occurs at the point when control of the products has transferred according to respective agreed terms of delivery.

5. 收入(續)

(iii) 表現責任

互聯網廣告代理服務

來自效果廣告收入於用戶點擊付費廣告內容時按每次點擊基準或向用戶播放就即時播放廣告付費之廣告內容時按每次播放基準確認。

加密貨幣採礦收入

本集團已主要透過本集團的機器及設備向礦池履行提供計算能力的表現責任,以換取加密貨幣作為非現金代價。於收入確認日期,加密貨幣採礦收入經參考知名加密貨幣定價編彙器所報市價後按所得加密貨幣估計公平值計量。

加密貨幣託管收入

本集團已與客戶訂立託管合約,據此,本集團在其設施內營運客戶的採礦設備。託管合約收入按本集團滿足其隨時營運託管設備的責任計量。

銷售商品

來自自動販賣機之收入於客戶在自動販賣機上實際擁有產品時確認。

來自銷售黃金之收入於客戶實際擁有產品時(即產品的控制權已根據各自交付協定條款轉移的時間點)確認。

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

6. SEGMENT INFORMATION

Information reported to the board of directors, being the chief operating decision maker, for the purposes of resources allocation and assessment of segment performance focuses on types of goods or services delivered or provided.

For management purpose, during the year, the Group's reportable segments are as follows:

6. 分部資料

向董事會(即主要營運決策者)呈報的資料乃就資源分配及評估分部表現而作出,側重於所交付商品或所提供服務的類別。

就管理而言,年內,本集團的可呈報分部如下:

Internet advertising agency services 互聯網廣告代理服務	— —	provision of internet advertising agency services which included promotion of online game and etc. 提供互聯網廣告代理服務(包括推廣線上遊戲等)
Digitalization empowerment platform business 數字化產業賦能平台業務	— —	provision of cryptocurrency related business; operating vending machine; and gold trading 提供加密貨幣相關業務;營運自動販賣機;及黃金貿易

* The name of this segment was "Digital assets business" prior to 2023. During the year, the name was changed as the Group considered it represents the business nature of this segment and its recent development more specifically.

The Group's reportable segments are strategic business units that offer different products and services. They are managed separately because each business requires different technology and marketing strategies.

Segment profits or losses represents the profit earned by/loss from each segment without allocation of certain other income, gains and losses, net and unallocated corporate expenses. Segment assets do not include unallocated restricted bank deposits, pledged bank deposits, bank and cash balances and unallocated deposits, prepayments and other receivables. Segment liabilities do not include unallocated accruals and other payables.

* 於二零二三年之前,此分部稱為「數字資產業務」。年內,由於本集團認為新名稱更切合此分部的業務性質及近期發展,故進行更名。

本集團之可呈報分部為提供不同產品及服務的策略性業務單位。因各業務需要不同的技術及營銷策略,故其分開進行管理。

分部損益指各分部賺取的溢利╱產生的虧損,並未分配部分其他收入、收益及虧損淨額及不予分配的企業開支。分部資產不包括不予分配的受限制銀行存款、已抵押銀行存款、銀行及現金結餘及不予分配的按金、預付款項及其他應收款項。分部負債不包括不予分配的應計費用及其他應付款項。

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

6. SEGMENT INFORMATION (continued)

The following is an analysis of the Group's revenue and results and the Group's assets and liabilities by reportable operating segments.

分部資料(續)

按可呈報經營分部劃分之本集團收入及業績以及本集團資產及負債分析如下:

			Digitalization Internet advertising empowerment agency services platform business			Total
		互聯網廣告代理服務 2023	2022	數字化產業賦能平台業務 2023	2022	總計 2023	2022
		二零二三年 HK\$'000 千港元	二零二二年 HK\$'000 千港元	二零二三年 HK\$'000 千港元	二零二二年 HK\$'000 千港元	二零二三年 HK\$'000 千港元	二零二二年 HK\$'000 千港元
Segment revenue	分部收入	39,041	39,649	30,921	6,793	69,962	46,442
Segment results	分部業績	7,487	(42,054)	(13,755)	(52,777)	(6,268)	(94,831)
Unallocated other income, gains and losses, net Unallocated corporate expenses 不予分配的企業開支	不予分配的其他收入、收益及虧損淨額					4,438 (28,211)	813 (5,347)
Loss before tax	除稅前虧損					(30,041)	(99,365)
Segment assets	分部資產	31,688	47,878	30,568	9,160	62,256	57,038
Unallocated corporate assets	不予分配的企業資產					92,347	39,665
Total assets	資產總值					154,603	96,703
Segment liabilities	分部負債	12,319	15,720	33,656	4,070	45,975	19,790
Unallocated corporate liabilities	不予分配的企業負債					95,131	24,161
Total liabilities	負債總額					141,106	43,951

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

6. SEGMENT INFORMATION (continued)

分部資料(續)

		Internet advertising agency services		platform business	Digitalization empowerment	Corporate and other unallocated income and expenditure 企業及其他不予分配的		Total
		互聯網廣告代理服務		數字化產業賦能平台業務		收入及開支		總計
		2023	2022	2023	2022	2023	2022	2023	2022
		二零二三年	二零二二年	二零二三年	二零二二年	二零二三年	二零二二年	二零二三年	二零二二年
		HK\$'000	HK\$'000	HK\$'000	HK\$'000	HK\$'000	HK\$'000	HK\$'000	HK\$'000
		千港元	千港元	千港元	千港元	千港元	千港元	千港元	千港元
Amounts included in the measure of segment profit or loss or segment assets	計入分部損益或分部資產計量之金額
Additions to segment non-current	添置分部非流動資產*
assets*		–	–	2,912	113,917	–	638	2,912	114,555
Depreciation on property,	物業、廠房及設備折舊
plant and equipment		–	380	1,992	6,406	–	–	1,992	6,786
Depreciation on right-of-use assets 使用權資產折舊		–	–	270	–	298	597	568	597
Gain on disposal of assets classified as held-for-sale	出售分類為持作出售資產之收益	–	(9,592)	–	–	–	–	–	(9,592)
(Gain)/loss on disposal of property,	出售物業、廠房及設備之
plant and equipment	(收益)╱虧損	–	–	(24)	1,609	–	–	(24)	1,609
(Reversal of)/impairment loss	已確認貿易及其他應收
recognised on trade and	款項(減值虧損撥回)╱
other receivables	減值虧損	(10,049)	31,537	6,143	37,673	15,515	–	11,609	69,210

* Additions to segment non-current assets consists of additions to property, plant and equipment and right-of-use assets.

* 添置分部非流動資產包括添置物業、廠房及設備以及使用權資產。

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

6.	SEGMENT INFORMATION (continued) 6.	分部資料(續)
	Geographical information	地區資料
	(a) Revenue from external customers	來自外部客戶之收入 (a)

		2023 二零二三年 HK\$'000 千港元	2022 二零二二年 HK\$'000 千港元

The PRC	中國	40,019	–
Hong Kong	香港	–	41,361
The United States	美國	29,943	–
Kazakhstan	哈薩克斯坦	–	5,081

		69,962	46,442

The revenue information above is based on the locations of the customers.

上述收入資料乃基於客戶所在地。

(b) Non-current assets

(b) 非流動資產

		2023 二零二三年 HK\$'000 千港元	2022 二零二二年 HK\$'000 千港元
The PRC Hong Kong Kazakhstan	中國香港哈薩克斯坦	2,231 – 361	245 469 4,495
		2,592	5,209

The above non-current assets information is based on the location of the assets excluding goodwill.

上述非流動資產資料乃基於資產所在地,不包括商譽。

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

6. SEGMENT INFORMATION (continued)

Information about major customers

Revenue from each major customer which accounted for 10% or more of the Group's revenue for the year, is set out below:

6. 分部資料(續)

有關主要客戶的資料

於本年度,佔本集團收入10%或以上之來自各主要客戶的收入如下:

			2023 二零二三年 HK\$'000 千港元	2022 二零二二年 HK\$'000 千港元
Customer A*	客戶A*		–	39,054
Customer B Customer C	客戶B 客戶C		29,943 24,077	– –
* The Major customer during the year ended 30 June 2022 is an entity controlled and beneficially owned by a management personnel of a subsidiary of the Company.		*	於截至二零二二年六月三十日止年度,主要客戶為本公司一間附屬公司管理人員所控制的實體,並由其實益擁有。

** Revenue from customer A and B are generated from internet advertising agency services and revenue from customer C is generated from digitalization empowerment platform business.

7. OTHER INCOME, GAINS AND LOSSES, NET

7. 其他收入、收益及虧損淨額

業賦能平台業務產生的收入。

** 來自客戶A及B的收入為互聯網廣告代理服務產生的收入,來自客戶C的收入則為數字化產

		2023 二零二三年 HK\$'000 千港元	2022 二零二二年 HK\$'000 千港元
Interest income on bank deposits Interest income on loans receivable Gain on disposal of assets classified	銀行存款之利息收入應收貸款之利息收入出售分類為持作出售資產之收益	77 1,052	1 722
as held-for-sale		–	9,592
Gain/(loss) on disposal of property, plant and equipment Impairment loss recognised on property,	出售物業、廠房及設備之收益╱(虧損) 已確認物業、廠房及設備減值	24	(1,609)
plant and equipment Impairment loss recognised on trade	虧損已確認貿易及其他應收款項減值	–	(9,367)
and other receivables, net	虧損淨額	(11,609)	(69,210)
Sundry income	雜項收入	59	69
Exchange gains, net	匯兌收益淨額	3,250	21
		(7,147)	(69,781)

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

8. FINANCE COSTS

財務成本

		2023 二零二三年 HK\$'000 千港元	2022 二零二二年 HK\$'000 千港元
Interest on other borrowings Interest on loan from a shareholder and	其他借貸利息來自一名股東及董事貸款利息	209	293
director		303	–
Interest on loan from a shareholder	來自一名股東貸款利息	767	–
Interest on lease liabilities	租賃負債利息	25	7
Interest expenses on discounted bills	貼現票據利息開支	423	–

9. INCOME TAX (CREDIT)/EXPENSE

9. 所得稅(抵免)╱開支

		2023 二零二三年 HK\$'000 千港元	2022 二零二二年 HK\$'000 千港元
Hong Kong profits tax — current taxation — over provision in prior years	香港利得稅 — 即期稅項 — 過往年度超額撥備	– (50)	128 –
		(50)	128

Pursuant to the rules and regulations of the Cayman Islands and the BVI, the Group is not subject to any income tax in the Cayman Islands and the BVI for both years.

Under the two-tiered Hong Kong profits tax regime, the first HK\$2 million of assessable profits of qualifying corporations will be taxed at 8.25% and profits above HK\$2 million will continue to be subject to the tax rate of 16.5%. The profits of group entities not qualifying for the two-tiered profits tax rates regime will continue to be taxed at the rate of 16.5%.

PRC enterprise income tax ("EIT") has been provided at a rate of 25% (2022: 25%). No provision for PRC EIT has been made in the consolidated financial statements as the Group has no profit for both years presented that are assessable to PRC EIT.

根據開曼群島及英屬處女群島的規則及規例,本集團毋須就兩個年度繳納開曼群島及英屬處女群島任何所得稅。

1,727 300

根據香港利得稅兩級制,合資格公司首 2,000,000港元應課稅溢利之稅率為 8.25%,而超過2,000,000港元之溢利將仍按16.5%之稅率繳稅。不符合利得稅兩級制資格之集團實體的溢利將繼續按 16.5%之稅率課稅。

中國企業所得稅(「企業所得稅」)按25% (二零二二年:25%)之稅率計提撥備。由於本集團於兩個年度均無呈列應按中國企業所得稅課稅之溢利,因此並無於綜合財務報表內計提中國企業所得稅撥備。

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

9. INCOME TAX (CREDIT)/EXPENSE (continued)

Taxation for other jurisdictions are calculated at the applicable rates prevailing at where the group entities operate.

The reconciliation between the income tax expense and the loss before tax multiplied by the income tax rate applicable to respective tax jurisdictions is as follows:

9. 所得稅(抵免)╱開支(續)

其他司法權區的稅項按集團實體經營所在地區的現行適用稅率計算。

所得稅開支與除稅前虧損乘以適用於各自稅項司法權區的所得稅稅率之積的對賬如下:

		2023 二零二三年 HK\$'000 千港元	2022 二零二二年 HK\$'000 千港元
Loss before tax	除稅前虧損	(30,041)	(99,365)
Tax calculated at the rates applicable to respective tax jurisdictions Tax effect of income that is not taxable Tax effect of expenses that are not deductible	按適用於各自稅項司法權區稅率計算的稅項毋須課稅收入之稅務影響不可扣稅開支之稅務影響	(5,907) (531) 4,919	(19,153) (76) 14,928
Tax effect of tax losses not recognised Over-provision in respect of prior year Effect of tax concession	未確認稅項虧損之稅務影響過往年度超額撥備稅項優惠之影響	1,519 (50) –	4,577 – (148)
Income tax (credit)/expense	所得稅(抵免)╱開支	(50)	128

10. LOSS FOR THE YEAR

10. 年內虧損

The Group's loss for the year is arrived at after (crediting)/ charging the following:

本集團之年內虧損乃經(計入)╱扣除以下各項後達致:

	2023 二零二三年 HK\$'000 千港元	2022 二零二二年 HK\$'000 千港元
核數師酬金 Auditors' remuneration 僱員福利開支(附註11) Employee benefit expenses (note 11) 廠房及設備折舊 Depreciation of plant and equipment 使用權資產折舊 Depreciation of right-of-use assets Lease payments not included in	700 6,396 1,992 568 未計入計量租賃負債之租賃付款	1,118 7,611 6,786 597
the measurement of lease liabilities (Reversal of impairment losses)/ 撥回)╱減值虧損淨額 impairment losses recognised on trade receivables, net	1,015 已確認貿易應收款項(減值虧損 (378)	3,549 8,188
Impairment losses recognised on deposits, 應收款項減值虧損淨額 prepayments and other receivables, net	已確認按金、預付款項及其他 11,987	61,022

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

11. EMPLOYEE BENEFITS EXPENSES

11. 僱員福利開支

		2023 二零二三年 HK\$'000 千港元	2022 二零二二年 HK\$'000 千港元
Employee benefits expenses: — Salaries, bonuses and allowances — Retirement benefit scheme	僱員福利開支: — 薪金、花紅及津貼 — 退休福利計劃供款	5,426	6,275
contributions		970	1,336
		6,396	7,611

Five highest paid individuals

The five highest paid individuals in the Group during the year included a director (2022: one director) whose emoluments is reflected in the analysis presented in note 12. The emoluments of the four individuals (2022: four individuals) are set out below:

五名最高薪人士

於本年度內,本集團的五名最高薪人士包括一名董事(二零二二年:一名董事),其薪酬已反映於附註12呈列的分析內。該等四名(二零二二年:四名)人士之薪酬載列如下:

	2023 二零二三年 HK\$'000 千港元	2022 二零二二年 HK\$'000 千港元
薪金、津貼及實物福利 Salaries, allowances and benefits in kind 退休福利計劃供款 Retirement benefit scheme contributions	1,338 407	1,140 –
	1,745	1,140

The number of the highest paid employees who are not the directors whose remuneration fell within the following bands is as follows:

薪酬介乎以下範圍之非董事最高薪僱員人數如下:

			Number of individuals 僱員人數
		2023 二零二三年	2022 二零二二年
Nil–HK\$1,000,000	零至1,000,000港元	4	4

During the years ended 30 June 2023 and 2022, no remuneration was paid by the Group to the five highest paid individuals as an inducement to join or upon joining the Group or as compensation for loss of office.

於截至二零二三年及二零二二年六月三十日止年度,本集團概無向五名最高薪人士支付任何薪酬作為吸引其加入本集團或加入本集團時的獎勵,或作為離職之補償。

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

12. BENEFITS AND INTERESTS OF DIRECTORS

(a) Directors' and Chief Executive Officer ("CEO") emoluments

The remuneration of each director is set out below:

董事福利及權益

(a) 董事及行政總裁(「行政總裁」)酬金

各董事的酬金載列如下:

				Employer's contribution
				to a
			Salaries and	retirement benefit
		Director's fee	allowances	scheme	Total
		董事袍金 HK\$'000 千港元	薪金及津貼 HK\$'000 千港元	僱主退休福利計劃供款 HK\$'000 千港元	總計 HK\$'000 千港元
Year ended 30 June 2023	截至二零二三年六月三十日止年度
Executive Directors	執行董事
Mr. Zhu Yongjun	朱勇軍先生	600	124	27	751
Mr. Gan Xiaohua (note)	甘曉華先生(附註)	–	81	11	92
Ms. Tian Yuan	田園女士	–	–	–	–
Independent Non-Executive Directors	獨立非執行董事
Mr. Chen Ce	陳策先生	180	–	–	180
Ms. Zhu Minli	朱敏麗女士	180	–	–	180
Ms. Jiang Ying	江穎女士	180	–	–	180
Total for year ended 30 June 2023	截至二零二三年
	六月三十日止年度總計	1,140	205	38	1,383
Year ended 30 June 2022	截至二零二二年六月三十日止年度
Executive Directors	執行董事
Mr. Zhu Yongjun	朱勇軍先生	600	450	18	1,068
Mr. Gan Xiaohua (note)	甘曉華先生(附註)	–	–	–	–
Ms. Tian Yuan	田園女士	–	–	–	–
Independent Non-Executive Directors	獨立非執行董事
Mr. Chen Ce	陳策先生	180	–	–	180
Ms. Zhu Minli	朱敏麗女士	180	–	–	180
Ms. Jiang Ying	江穎女士	180	–	–	180
Total for year ended 30 June 2022	截至二零二二年
	六月三十日止年度總計	1,140	450	18	1,608

Note: Mr. Gan Xiaohua was appointed as executive director on 25 July 2022.

附註:甘曉華先生於二零二二年七月二十五日獲委任為執行董事。

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

12. BENEFITS AND INTERESTS OF DIRECTORS (continued)

(a) Directors' and Chief Executive Officer ("CEO") emoluments (continued)

During the year, no remuneration was paid by the Group to the directors and CEO as an inducement to join or upon joining the Group or as compensation for loss of office (2022: Nil).

There was no arrangement under which a director and the CEO waived or agreed to waive any remuneration during the year (2022: Nil).

The remunerations of directors and the chief executive were determined by the remuneration committee having regard to the performance of individuals and market trends.

Fees, salaries and other benefits paid to or for the executive and non-executive directors are generally emoluments paid or receivable in respect of those persons' other services in connection with the management of the affairs of the Company and its subsidiaries.

(b) Directors' material interests in transactions, arrangements or contracts

No significant transactions, arrangements and contracts in relation to the Group's business to which the Company was a party and in which a director of the Company and the director's connected party had a material interest, whether directly or indirectly, subsisted at the end of the year or at any time during the year.

12. 董事福利及權益(續)

(a) 董事及行政總裁(「行政總裁」)酬金(續)

於本年度,本集團概無向董事及行政總裁支付薪酬作為加入本集團或加入本集團時的獎勵,或作為離職之補償(二零二二年:無)。

於本年度,概無董事及行政總裁放棄或同意放棄任何薪酬之安排(二零二二年:無)。

董事及主要行政人員的薪酬由薪酬委員會按個人表現及市場趨勢釐定。

向執行及非執行董事支付或就彼等支付之袍金、薪金及其他福利一般指就該等人士管理本公司及其附屬公司事務所提供之其他服務而支付或該等人士應收之酬金。

(b) 董事於交易、安排或合約中的重大權益

本公司於年結時或年內任何時間, 概無存在與本集團業務有關而由本公司訂立以及本公司董事及董事的關聯方擁有直接或間接重大權益之重大交易、安排及合約。

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

13. DIVIDENDS

No dividend was paid or proposed for ordinary shareholders of the Company during the year, nor has any dividend been proposed since the end of the reporting period (2022: Nil).

14. LOSS PER SHARE

The calculation of the basic loss per share is based on the following data:

13. 股息

年內並無向本公司普通股東派付或建議派付任何股息,且自報告期末起並無建議派付任何股息(二零二二年:無)。

14. 每股虧損

每股基本虧損乃根據下列數據計算:

	2023 二零二三年 HK\$'000	2022 二零二二年 HK\$'000
	千港元	千港元
用於計算每股基本虧損之虧損 Loss for the purpose of calculating basic loss per share
本公司擁有人應佔年內虧損 Loss for the year attributable to owners
of the Company	(29,991)	(99,493)

	2023	2022
	二零二三年	二零二二年
	HK\$'000 千港元	HK\$'000 千港元

用於計算每股基本虧損之普通股 Weighted average number of ordinary 加權平均數 shares for the purpose of basic
loss per share	491,726	482,900

No diluted loss per share for both of the years ended 30	由於本公司於截至二零二三年及二零二二

June 2023 and 2022 presented as there were no potential ordinary shares in issue for both of the years.

年六月三十日止兩個年度並無任何已發行潛在普通股,故於兩個年度並無呈列每股攤薄虧損。

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

15. PROPERTY, PLANT AND EQUIPMENT

物業、廠房及設備

		Motor vehicles 汽車 HK\$'000 千港元	Furniture, fixtures and office equipment 傢俬、裝置及辦公室設備 HK\$'000 千港元	Machinery and equipment 機器及設備 HK\$'000 千港元	Leasehold improvements 租賃物業裝修 HK\$'000 千港元	Total 總計 HK\$'000 千港元
Cost At 1 July 2021 Additions (note b) Disposals (note b) Exchange differences	成本於二零二一年七月一日添置(附註b) 出售(附註b) 匯兌差額	1,436 – – 6	1,209 17 – –	18,451 113,917 (117,321) 72	405 – – –	21,501 113,934 (117,321) 78
At 30 June 2022 and 1 July 2022 Additions Disposals Transfer to assets classified as held-for-sale (note 22) Exchange differences	於二零二二年六月三十日及二零二二年七月一日添置出售轉撥至分類為持作出售之資產(附註22) 匯兌差額	1,442 – (1,345) – (97)	1,226 – (736) (96) (52)	15,119 2,426 – (7,128) (101)	405 – – – –	18,192 2,426 (2,081) (7,224) (250)
At 30 June 2023 Accumulated depreciation and	於二零二三年六月三十日累計折舊及減值	–	342	10,316	405	11,063
impairment At 1 July 2021 Depreciation charge for the year Impairment loss recognised for the year (note c) Eliminated on disposals (note b)	於二零二一年七月一日年內折舊費用年內已確認減值虧損 (附註c) 於出售時對銷(附註b)	933 274 – –	1,185 27 – –	657 6,406 9,367 (5,809)	326 79 – –	3,101 6,786 9,367 (5,809)
Exchange differences At 30 June 2022 and 1 July 2022 Depreciation charge for the year Eliminated on disposals Transferred to assets classified as held-for-sale (note 22) Exchange differences	匯兌差額於二零二二年六月三十日及二零二二年七月一日年內折舊費用於出售時對銷轉撥至分類為持作出售之資產(附註22) 匯兌差額	4 1,211 128 (1,256) – (83)	– 1,212 4 (736) (96) (51)	3 10,624 1,860 – (4,532) (11)	– 405 – – – –	7 13,452 1,992 (1,992) (4,628) (145)
At 30 June 2023 Carrying amount At 30 June 2023	於二零二三年六月三十日賬面值於二零二三年六月三十日	– –	333 9	7,941 2,375	405 –	8,679 2,384
At 30 June 2022	於二零二二年六月三十日	231	14	4,495	–	4,740

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

15. PROPERTY, PLANT AND EQUIPMENT (continued)

Notes:

(a) The above items of property, plant and equipment, after taking into account the residual values, are depreciated on a straight-line basis at the following rates per annum:

Motor vehicles	10%–30%
Furniture, fixtures and office equipment	20%–50%
Machinery and equipment	33%
Leasehold improvements	Over the lease term

(b) During the year ended 30 June 2022, the Group has disposed of certain of its machineries and equipment in connection with the Group's digital assets business for an aggregate consideration of approximately HK\$109,903,000, which gave rise to loss on disposal of HK\$1,609,000 (note 7). The proceeds on disposal to the extent of approximately HK\$84,699,000 was received by the Group up to 30 June 2023 with the remaining amount of HK\$23,374,000 (2022: HK\$25,204,000) remained outstanding as at that date and was included in other receivables (note 19).
(c) During the year ended 30 June 2023, the directors of the Company conducted impairment assessments of the machineries and equipment with reference to a valuation carried out by an external valuer on the basis of their estimated selling prices. Having considered the valuation of these machineries and equipment performed by the external valuer, management of the Group is of the view that it is appropriate to make impairment loss in the machineries and equipment amounted to approximately HK\$Nil (2022: 9,367,000) (note 7).

16. LEASES

The Group as lessee

The Group leases office premises and warehouse for its daily operations. The lease term is ranging from 21 months to 25 months (2022: 25 months), with an option to renew the lease when all terms are renegotiated. Lease payments are usually increased annually to reflect current market rentals.

15. 物業、廠房及設備(續)

附註:

(a) 上述物業、廠房及設備項目乃經計及剩餘價值後,以直線法按以下年率折舊:

汽車	10%至30%
傢俬、裝置及辦公室設備	20%至50%
機器及設備	33%
租賃物業裝修	按租期

(b) 於截至二零二二年六月三十日止年度,就本集團數字資產業務而言,本集團已以總代價約 109,903,000港元出售其若干機器及設備,產生出售虧損1,609,000港元(附註7)。截至二零二三年六月三十日,本集團收到出售所得款項約84,699,000港元, 而餘額23,374,000港元(二零二二年:25,204,000 港元)於該日仍未償付,並計入其他應收款項(附註19)。
(c) 於截至二零二三年六月三十日止年度,本公司之董事參考外部估值師進行的估值,並按其估計銷售價格對機器及設備進行減值評估。經考慮外部估值師對該等機器及設備進行的估值, 本集團管理層認為將機器及設備的減值虧損訂為約零港元(二零二二年:9,367,000港元)屬適宜(附註7)。

16. 租賃

本集團作為承租人

本集團為日常營運租賃辦公場所及倉庫。租賃期限介乎21至25個月(二零二二年: 25個月),可選擇在重新協商所有條款後續訂租賃。租賃付款通常按年增加以反映當前的市場租金。

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

16. LEASES (continued)

(a) Right-of-use assets

(a) 使用權資產

租賃(續)

		2023 二零二三年 HK\$'000 千港元	2022 二零二二年 HK\$'000 千港元
At beginning of the year Additions Depreciation Transferred to assets classified as	於年初添置折舊轉撥至分類為持作出售之	469 486 (568)	445 621 (597)
held-for-sale (note 22) Exchange differences	資產(附註22) 匯兌差額	(174) (5)	– –
At end of the year	於年末	208	469

(b) Lease liabilities

(b) 租賃負債

		2023 二零二三年 HK\$'000 千港元	2022 二零二二年 HK\$'000 千港元
Carrying amount at 1 July New leases Interest on lease liabilities Payments Transferred to liabilities associated with assets classified as held-for-sale (note 22)	於七月一日的賬面值新租賃租賃負債利息付款轉撥至與分類為持作出售之資產有關之負債(附註22)	463 486 25 (515) (177)	454 621 7 (619) –
Carrying amount at 30 June	於六月三十日的賬面值	282	463
Analysed into: Current portion Non-current portion	分析為: 即期部分非即期部分	240 42	286 177

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

17. GOODWILL

Goodwill acquired in a business combination is allocated, at acquisition, to the cash generating units ("CGUs") that are expected to benefit from that business combination. The carrying amount of goodwill (other than goodwill relating to discontinued operation) had been allocated as follows:

Goodwill arising from acquisition of Ai Wan Yue

Shenzhen Ai Wan Yue Technology Company Limited ("Ai Wan Yue") is principally engaged in promotion of mobile game services. The acquisition was made during the year ended 30 June 2017 with the aims to further develop and expand the business scope of the Group, and take into account the potentials of the development of mobile gaming industry. The goodwill arising on the acquisition of Ai Wan Yue is attributable to the anticipated profitability of promotion of mobile game and the anticipated future operating synergies from combination.

Goodwill arising from acquisition of Dongrun Hudong

Beijing Dongrun Hudong Technology Company Limited ("Dongrun Hudong") is principally engaged in provision of internet advertising agency services. The acquisition was made during the year ended 30 June 2018 with the aims to further develop and expand the business scope of the Group, and take into account the potentials of the development of internet advertising agency business. The goodwill arising on the acquisition of Dongrun Hudong is attributable to the anticipated profitability of internet advertising agency services and the anticipated future operating synergies from combination.

During the year ended 30 June 2021, the directors of the Company conducted impairment assessments of the goodwill and property, plant and equipment containing in the Dongrun Hudong CGUs, since there is no operation for Dongrun Hudong, management considered that the goodwill with carrying amount of HK\$2,406,000 and property, plant and equipment with carrying amount of HK\$185,000 are not recoverable, full impairment is made accordingly.

17. 商譽

業務合併所獲得之商譽於收購時會分配至預期將受益於該業務合併之現金產生單位 (「現金產生單位」)。商譽(有關已終止經營業務之商譽除外)之賬面值已分配如下:

源自收購愛玩悅之商譽

深圳愛玩悅科技有限司(「愛玩悅」)主要從事推廣手遊服務。該收購事項於截至二零一七年六月三十日止年度內進行,旨在進一步發展及擴展本集團業務範圍,並考慮發展手遊產業之潛力。源自收購愛玩悅之商譽歸屬於推廣手遊之預期盈利能力及預期合併帶來的未來經營協同效應。

源自收購東潤互動之商譽

北京東潤互動科技有限公司(「東潤互動」) 主要從事提供互聯網廣告代理服務。該收購事項於截至二零一八年六月三十日止年度內進行,旨在進一步發展及擴展本集團業務範圍,並考慮發展互聯網廣告代理業務之潛力。源自收購東潤互動之商譽歸屬於互聯網廣告代理服務之預期盈利能力及預期合併帶來的未來經營協同效應。

截至二零二一年六月三十日止年度,本公司董事對包含於東潤互動現金產生單位的商譽及物業、廠房及設備進行減值評估, 而東潤互動並無經營業務,故管理層認為賬面值為2,406,000港元的商譽及賬面值為185,000港元的物業、廠房及設備為不可收回,因而作出全數減值。

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

18. TRADE RECEIVABLES

貿易應收款項

		2023 二零二三年 HK\$'000 千港元	2022 二零二二年 HK\$'000 千港元
Trade receivables	貿易應收款項	58,238	23,257
Less: Allowance for impairment loss (Note 30)	減:減值虧損撥備(附註30)	(22,879)	(23,257)

The Group's trading terms with customers are mainly on credit. The Group generally allows an average credit period of not more than 60 days for its internet advertising agency services business customers. The Group does not hold any collateral over these balances. Before accepting any new customer, the management assesses the potential customer's credit quality and defines credit limits by customer.

In view of the aforementioned and the fact that the Group's trade receivables relate to a few number of major customers, there is concentration of credit risk and further details are discussed in note 30 to the consolidated financial statements.

The ageing analysis of trade receivables, based on dates on which revenue was recognised, and net of allowance, is as follows:

本集團與客戶之貿易條款以信貸為主。本集團一般給予其互聯網廣告代理服務業務客戶不超過60天的平均信貸期。本集團並無就該等結餘持有任何抵押品。於接納任何新客戶之前,管理層會評估潛在客戶之信貸質素,並按客戶界定信貸額度。

35,359 –

鑒於上述情況及本集團之貿易應收款項涉及少量主要客戶,因此並無信貸集中風險。進一步詳情於綜合財務報表附註30 載述。

按收入確認日期的貿易應收款項(扣除撥備)之賬齡分析如下:

		2023 二零二三年 HK\$'000 千港元	2022 二零二二年 HK\$'000 千港元
Within 30 days	30天以內	7,382	–
31 to 60 days	31至60天	–	–
61 to 90 days	61至90天	2,397	–
91 to 180 days	91至180天	25,580	–

		35,359	–

Details of impairment assessment of trade receivables are set out in note 30.

貿易應收款項之減值評估詳情載於附註 30。

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

19. DEPOSITS, PREPAYMENTS AND OTHER RECEIVABLES

19. 按金、預付款項及其他應收款項

		Note 附註	2023 二零二三年 HK\$'000 千港元	2022 二零二二年 HK\$'000 千港元
Deposits paid Prepayments Loan and interest receivables Value added tax receivable Cash under director's custody Consideration receivables Other receivables	已付按金預付款項應收貸款及利息應收增值稅董事託管現金應收代價其他應收款項	(a) (b) (c) (d) (e)	– 112,278 24,224 907 – 23,374 17,715	611 100,356 17,694 2,200 970 25,204 8,542
Less: Allowance for impairment loss 減:減值虧損撥備			178,498 (95,964) 82,534	155,577 (84,000) 71,577

Details of impairment assessment of deposits, prepayment and other receivables are set out in note 30.

Notes:

(a) Included in prepayments are payments in advance to suppliers a m o u n t e d t o a p p r o x i m a t e l y H K \$ 1 1 2 , 2 7 8 , 0 0 0 ( 2 0 2 2 : HK\$100,356,000) for service costs mainly to be incurred for the Group's advertising agency business.

The directors of the Company consider that, in accordance with the service contracts entered into with the suppliers, the Company is entitled to demand repayment for unused payments in advance upon or after expiry of the contracts.

In view of uncertainty of financial position of certain suppliers, management considered it appropriate to recognise impairment losses amounted to HK\$61,843,000 (2022: HK\$50,053,000) on such payments in advance made to those suppliers.

(b) As at 30 June 2023, loans and interest receivables are unsecured, bearing interest at 4.35% per annum (2022: 3.85% to 4.35% per annum) and repayable within one year. Such loan receivables at 30 June 2023 to the extent of approximately HK\$22,810,000 (2022: HK\$11,479,000) remained outstanding, up to the date of approval of these consolidated financial statements, Impairment loss amounted to HK\$930,000 as at 30 June 2022 (2022: HK\$2,701,000) was recognised on loans and interest receivables based on the assessment of the ECL on such receivables.

有關按金、預付款項及其他應收款項減值評估的詳情載於附註30。

附註:

(a) 預付款項包括就主要由本集團廣告代理業務產生之服務成本墊付供應商的款項約 112,278,000港元(二零二二年:100,356,000 港元)。

本公司董事認為,根據與供應商訂立之服務合約,本公司有權於合約屆滿時或之後要求退還所墊付之未動用款項。

鑒於若干供應商之財務狀況存在不確定性, 管理層認為就墊付予該等供應商之款項確認減值虧損61,843,000港元( 二零二二年: 50,053,000港元)屬適宜。

(b) 於二零二三年六月三十日,應收貸款及利息為無抵押、按年利率4.35%(二零二二年:年利率3.85%至4.35%)計息及須於一年內償還。截至批准該等綜合財務報表日期,於二零二三年六月三十日之應收貸款中約22,810,000港元(二零二二年:11,479,000港元)仍為未償還,於二零二二年六月三十日根據有關應收款項之預期信貸虧損評估就應收貸款及利息確認減值虧損930,000港元(二零二二年:2,701,000 港元)。

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

19. DEPOSITS, PREPAYMENTS AND OTHER RECEIVABLES (continued)

Notes: (continued)

(c) As at 30 June 2022, the cash amounted to HK\$970,000 was held by a director for business purposes and was fully repaid to the Group during the year ended 30 June 2023.
(d) The consideration receivables for the disposal and return of the Group's machineries and equipment amounted to approximately HK\$23,374,000 (2022: HK\$25,204,000) remained outstanding as at the end of the reporting period. Such consideration receivables are unsecured, interest free and repayable on demand. In view of the uncertainty of financial position of the debtors and the receivable has been overdue, management considered it appropriate to recognise impairment loss in full on the outstanding receivables amounted to approximately HK\$23,374,000 (2022: HK\$25,204,000) in profit or loss of the Group for the current year.
(e) Included in other receivables are advance payments of HK\$5,392,000 (2022: HK\$6,042,000) made to a contractor for the contract works of a suspended project. In view of the uncertainty of financial position of the contractor, impairment loss on such receivable amounted to HK\$5,392,000 (2022: HK\$6,042,000) was recognised in profit and loss in respect of the current year.

20. CRYPTOCURRENCY

The cryptocurrencies held at the end of the reporting period consist of the following:

19. 按金、預付款項及其他應收款項(續)

附註:(續)

(c) 於二零二二年六月三十日,一名董事就業務目的持有的現金為970,000港元,而於截至二零二三年六月三十日止年度已向本集團悉數償還。
(d) 於報告期末,出售及返還本集團機器及設備之應收代價約為23,374,000港元(二零二二年: 25,204,000港元)仍未償付。有關應收代價為無抵押、免息及須按要求償還。鑒於債務人的財務狀況存在不確定性及應收款項已逾期,管理層認為就未償付應收款項約23,374,000港元(二零二二年:25,204,000港元)於本集團本年度損益中確認全數減值虧損屬適當。
(e) 其他應收款項包括就一項停運項目的合約工程向承包商作出的墊付款項5,392,000港元(二零二二年:6,042,000港元)。鑒於承包商的財務狀況存在不確定性,該應收款項的減值虧損 5,392,000港元(二零二二年:6,042,000港元) 於本年度的損益內確認。

20. 加密貨幣

於報告期末所持加密貨幣包括以下各項:

		2023 二零二三年 HK\$'000 千港元	2022 二零二二年 HK\$'000 千港元
Bitcoin USD Coin Tether	比特幣 USD Coin 泰達幣	1 5 4	1 5 4
		10	10

The Group classifies its cryptocurrency held at the end of the reporting period as current assets as management has determined that the Group is able to convert the cryptocurrency for cash within a short period of time or to utilise such cryptocurrency for payment purposes.

於報告期末,由於管理層釐定本集團可於短時間內將加密貨幣轉換為現金,或將有關加密貨幣用於支付用途,故本集團將其所持加密貨幣分類為流動資產。

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

21. PLEDGED BANK DEPOSITS AND BANK AND CASH BALANCES

(a) Pledged bank deposits

As at 30 June 2023, the Group pledged its bank deposits of approximately HK\$25,882,000 (2022: HK\$Nil) as security for bills payables. The pledged deposits carry fixed interest rate at 2.05% (2022: HK\$Nil) per annum.

(b) Bank and cash balances

21. 已抵押銀行存款以及銀行及現金結餘

(a) 已抵押銀行存款

於二零二三年六月三十日,本集團質押其銀行存款約25,882,000港元 (二零二二年:零港元)作為應付票據之抵押。已抵押存款按每年2.05% 之固定利率計息(二零二二年:零港元)。

(b) 銀行及現金結餘

		2023 二零二三年 HK\$'000 千港元	2022 二零二二年 HK\$'000 千港元
Bank and cash balances Less: restricted bank deposits	銀行及現金結餘減:受限制銀行存款	4,813 (105)	19,907 –
		4,708	19,907

As at 30 June 2023, the bank balances including pledged bank deposits of the Group denominated in RMB amounted to approximately HK\$26,014,000 (2022: HK\$18,859,000) was kept in banks located in the PRC. Conversion of RMB into foreign currencies is subject to the PRC's Foreign Exchange Control Regulations and Administration of Settlement, Sale and Payment of Foreign Exchange Regulations

Bank balances earn interests at floating rate based on daily bank deposit rates and is placed with creditworthy banks with no recent history of default.

於二零二三年六月三十日,本集團以人民幣計值的銀行結餘(包括已抵押銀行存款)約為26,014,000港元(二零二二年:18,859,000港元),並存放於位於中國之銀行。人民幣兌換為外國貨幣須受中國《外匯管理條例》及《結匯、售匯及付匯管理規定》所限制。

銀行結餘根據每日銀行存款利率按浮動利率賺取利息,並存放於信用良好且無近期違約記錄的銀行。

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

22. ASSETS CLASSIFIED AS HELD-FOR-SALE/ LIABILITIES ASSOCIATED WITH ASSETS CLASSIFIED AS HELD-FOR-SALE

On 5 May 2023, a sale and purchase agreement for a disposal of the entire issued shares in Right Fortress Limited, Anyz Limited and Million Stars US Inc., which were wholly owned subsidiaries of the Group, was entered into at a consideration of HK\$100,000. The consideration was settled by the purchaser by cash on 21 September 2023. Up to the date of this report, the disposal was not completed.

22. 分類為持作出售之資產╱與分類為持作出售之資產有關之負債

於二零二三年五月五日,本集團訂立買賣協議以出售本集團全資附屬公司韋保有限公司、Anyz Limited及Million Stars US Inc. 的全部已發行股份,代價為100,000港元。買方於二零二三年九月二十一日以現金償付該代價。截至本報告日期,出售事項尚未完成。

	2023 二零二三年 HK\$'000 千港元	2022 二零二二年 HK\$'000 千港元
分類為持作出售之資產 Assets classified as held-for-sale 物業、廠房及設備(附註15) Property, plant and equipment (note 15) 使用權資產(附註16) Right-of-use assets (note 16) 按金、預付款項及 Deposits, prepayments and 其他應收款項 other receivables 銀行及現金結餘 Bank and cash balances	2,596 174 582 16	– – – –
	3,368	–
與分類為持作出售之 Liabilities associated with assets classified 資產有關之負債 as held-for-sale 應計費用及其他應付款項 Accruals and other payables 借貸 Borrowings 租賃負債(附註16) Lease liabilities (note 16)	2,562 2,500 177	– – –
	5,239	–

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

23. TRADE AND BILLS PAYABLES

23. 貿易應付款項及應付票據

		2023 二零二三年 HK\$'000 千港元	2022 二零二二年 HK\$'000 千港元
Trade and bills payables	貿易應付款項及應付票據	44,899	6,572

The bills payables relate to trade payables in which the Group has issued bills to the relevant suppliers for future settlement trade payables. The Group continues to recognise these trade payables as the relevant banks are obliged to make payments only on due dates of the bills, under the same conditions as agreed with the suppliers without further extension. In the consolidated statement of cash flows, settlements of these bills are included within operating cash flows based on the nature of the arrangements.

應付票據與貿易應付款項有關,其中本集團已向相關供應商發行票據以供日後結算貿易應付款項。本集團繼續確認該等貿易應付款項,因相關銀行須按與供應商協定的相同條件,僅於票據到期日付款,而不得進一步延期。於綜合現金流量表中,該等票據的結算根據安排的性質計入經營現金流量。

An ageing analysis of trade and bills payables, based on invoice date, is as follows:

按發票日期的貿易應付款項及應付票據之賬齡分析如下:

		2023 二零二三年 HK\$'000 千港元	2022 二零二二年 HK\$'000 千港元
0–30 days	0至30日	11,624	–
31–60 days	31至60日	–	–
61–90 days	61至90日	–	–
91–180 days	91至180日	25,882	–
Over 180 days	180日以上	7,393	6,572
		44,899	6,572

The normal average credit period for purchase goods ranged from 0 to 90 days and certain suppliers grant longer credit period on a case-by-case basis.

採購貨品的正常平均信貸期介乎0至90 日,而若干供應商根據具體情況授予較長信貸期。

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

24. ACCRUALS AND OTHER PAYABLES

24. 應計費用及其他應付款項

				2023 二零二三年	2022 二零二二年
			Note 附註	HK\$'000 千港元	HK\$'000 千港元
	Accruals Amounts due to related parties Contract liabilities Other payables	應計費用應付關聯方款項合約負債其他應付款項	(a) (b)	8,129 – 795 28,141	5,770 2,027 2,618 548
				37,065	10,963
Notes:			附註:
(a)	The amounts due to related parties, who are a director and a former director amounted to HK\$Nil (2022: HK\$435,000) and HK\$Nil (2022: HK\$1,592,000) respectively, are unsecured, interest free and repayable on demand or within one year after the end of the reporting period.		(a)	應付董事及前董事之關聯方款項分別為零港元 ( 二零二二年:435,000港元 )及零港元 (二零二二年:1,592,000港元),該等款項為無抵押、免息及須按要求或於報告期末後一年內償還。
(b)	Contract liabilities		(b)	合約負債
	Contract liabilities represented service income received in advance from customers in connection with the Group's internet advertising agency services and cryptocurrency hosting services.			合約負債指就本集團互聯網廣告代理服務及加密貨幣託管服務自客戶預先收取的服務收入。
	All contract liabilities are non-interest bearing and no right of refund is noted from the Group's contract with customers.			所有合約負債均為免息,且本集團與客戶之合約並無註明退款權。
	The following table shows the revenue recognised in the current reporting period which relates to brought-forward contract liabilities.			下表載列於本報告期間確認與結轉合約負債相關之收入。
				2023 二零二三年 HK\$'000 千港元	2022 二零二二年 HK\$'000 千港元
	Revenue recognised that was included in the contract liabilities balance at the beginning of the year	於年初計入合約負債結餘之已確認收入		2,618	2,299
	No billings in advance of performance received that is expected to be recognised as income after more than one year.			概無已收預收履約賬款預期於超過一年後確認為收入。
	As the related contracts with an original expected duration of one year or less are billed based on time incurred, as permitted under HKFRS 15, the transaction price allocated to these unsatisfied contracts is not disclosed.			由於原訂預期限為一年或以下的相關合約乃按發生時間結賬,故根據香港財務報告準則第 15號所許可,分配至該等未達成合約之交易價格不予披露。

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

25. LOANS FROM SHAREHOLDERS AND DIRECTORS/LOAN FROM A SHAREHOLDER/ LOAN FROM A DIRECTOR

The loans from shareholders and directors (2022: a shareholder and director) are unsecured, bearing fixed interest rates ranged from 0% to 4.35% per annum (2022: 4.35% per annum), repayable on demand and within one year.

The loan from a shareholder is unsecured, bearing fixed interest rates at 4.35% and repayable within one year.

The loan from a director is unsecured, interest free and repayable within one year.

25. 來自股東及董事貸款╱來自一名股東貸款╱來自一名董事貸款

來自股東及董事(二零二二年:一名股東及董事)貸款為無抵押、按固定年利率介乎0%至4.35%( 二零二二年: 年利率 4.35%)計息、須按要求償還及須於一年內償還。

來自一名股東貸款為無抵押、按固定利率 4.35%計息及須於一年內償還。

來自一名董事貸款為無抵押、免息及須於一年內償還。

26. BORROWINGS

26. 借貸

		2023 二零二三年 HK\$'000 千港元	2022 二零二二年 HK\$'000 千港元
Other borrowings	其他借貸	4,691	23,094
Borrowings repayable Within one year or on demand, and included in current liabilities More than one year but less than two years, and included in non-current liabilities	借貸償還一年內或按要求,並計入流動負債超過一年,但不超過兩年期間內,並計入非流動負債	4,691 –	9,326 13,768
		4,691	23,094

As at 30 June 2023, other borrowings comprise amounts d u e t o t h i r d p a r t i e s o f H K \$ 3 , 2 3 5 , 0 0 0 ( 2 0 2 2 : HK\$14,583,000) and an entity related to a management personnel of a subsidiary of HK\$1,456,000 (2022: HK\$8,511,000). The amounts due to a third party (2022: third parties) are unsecured, bearing fixed interest rates at 4.35% per annum (2022: 3% to 4.35% per annum). The amount due to the entity related to a management personnel of a subsidiary is unsecured and interest free.

於二零二三年六月三十日,其他借貸包括應付第三方款項3,235,000港元(二零二二年:14,583,000港元)及應付一間與一間附屬公司管理人員有關的實體款項 1,456,000港元(二零二二年:8,511,000 港元)。應付一名第三方(二零二二年:第三方)款項為無抵押、按固定年利率4.35% (二零二二年:年利率3%至4.35%)計息。應付與一間附屬公司管理人員有關的實體款項為無抵押及免息。

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

27. DEFERRED TAX

At the end of the reporting period, the Group had unused tax losses of approximately HK\$83,854,000 (2022: HK\$93,360,000) available for offset against future profits. No deferred tax asset has been recognised in respect of such losses due to the unpredictability of future profit streams. Included in unrecognised tax losses are losses of approximately HK\$20,550,000 (2022: HK\$20,493,000), HK\$4,504,000 (2022: HK\$23,026,000), HK\$39,844,000 (2022: HK\$5,046,000), HK\$136,000 (2022: HK\$44,644,000) and HK\$ Nil (2022: HK\$152,000) which will expire in 2024, 2025, 2026, 2027 and 2028. Other losses subject to the final assessment of the Hong Kong Inland Revenue Department may be carried forward indefinitely.

Pursuant to the PRC Enterprise Income Tax ("EIT") Law, a 10% withholding tax is levied on dividends declared to foreign investors from the foreign investment enterprises established in Mainland China. The requirement is effective from 1 January 2008 and applies to earnings after 31 December 2007. A lower withholding tax rate may be applied if there is a tax treaty between Mainland China and the jurisdiction of the foreign investors. For the Group, the applicable rate is 10%. The Group is therefore liable for withholding taxes on dividends distributed by those subsidiaries established in Mainland China in respect of earnings generated from 1 January 2008.

Under the EIT Law of PRC, withholding tax is imposed on dividends declared in respect of profits earned by PRC subsidiaries from 1 January 2008 onwards. At 30 June 2023, deferred taxation has not been provided for in the consolidated financial statements in respect of temporary differences attributable to accumulated profits of the PRC subsidiaries as the Group is able to control the timing of the reversal of the temporary differences and it is probable that the temporary differences will not reverse in the foreseeable future.

27. 遞延稅項

於報告期末,本集團未動用稅項虧損約為 83,854,000港元(二零二二年:93,360,000 港元),可用作抵銷未來溢利。由於未來溢利流不可預測,故並無就有關虧損確認遞延稅項資產。未確認稅項虧損包括虧損約為20,550,000港元( 二零二二年: 20,493,000港元)、4,504,000港元(二零二二年:23,026,000港元 )、39,844,000 港元( 二零二二年:5,046,000港元 )、 136,000港元(二零二二年:44,644,000港元)及零港元(二零二二年:152,000港元),分別將於二零二四年、二零二五年、二零二六年、二零二七年及二零二八年到期。其他須經香港稅務局最終評估之虧損可無限期結轉。

根據中國企業所得稅(「企業所得稅」)法, 於中國內地設立的海外投資企業向海外投資者宣派的股息須徵收10%的預扣稅。該規定自二零零八年一月一日起生效,適用於二零零七年十二月三十一日後的收益。倘中國內地與海外投資者的司法權區訂立稅收協定,則可能應用較低預扣稅率。就本集團而言,適用稅率為10%。因此,本集團須就於中國內地設立的附屬公司自二零零八年一月一日起賺取的盈利而宣派的股息繳納預扣稅。

根據中國企業所得稅法,自二零零八年一月一日以後,就中國附屬公司賺取之溢利宣派股息須繳納預扣稅。於二零二三年六月三十日,於綜合財務報表並無就中國附屬公司累計溢利應佔的暫定差額計提遞延稅項撥備,乃由於本集團可控制撥回該等暫定差額的時間,且該等差額可能不會於可見未來撥回。

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

28. SHARE CAPITAL

股本

		2023 二零二三年 HK\$'000 千港元	2022 二零二二年 HK\$'000 千港元
Authorised: 4,000,000,000 ordinary shares of HK\$0.01 each	法定: 4,000,000,000股每股面值 0.01港元的普通股	40,000	40,000
Issued and fully paid: At beginning of the year Issue of ordinary shares under share subscription	已發行及繳足: 於年初根據股份認購發行普通股	4,880 200	4,200 680
At end of the year	於年末	5,080	4,880

On 28 April 2021, the Company entered into subscription agreements and supplemental agreement with two third parties under which the Company has agreed to allot and issue 68,000,000 new shares at the subscription price of HK\$0.25 per share. Completion of the shares subscription took place on 28 July 2021 which gave rise to proceeds of HK\$17,000,000 (before expense) on the issue of 68,000,000 new shares of the Company.

On 17 March 2023, the Company entered into subscription agreements with a independent third party under which the Company has agreed to allot and issue 20,000,000 new shares at the subscription price HK\$0.15 per share. Completion of the shares subscription took place on 24 April 2023 which gave rise to proceeds of HK\$3,000,000 (before expense) on the issue of 20,000,000 new shares of the Company.

29. CAPITAL MANAGEMENT

The Group's objectives when managing capital are to safeguard the Group's ability to continue as a going concern and to maximise the return to the shareholders through the optimisation of the debt and equity balance.

The Group monitors capital on the basis of the debt-toadjusted capital ratio. This ratio is calculated as net debt divided by adjusted capital. Total debt comprises of loan from shareholders and directors, a shareholder, a director and borrowings. Adjusted capital comprises all components of equity.

於二零二一年四月二十八日,本公司與兩名第三方訂立認購協議及補充協議,據此,本公司已同意按認購價每股0.25港元配發及發行68,000,000股新股份。股份認購已於二零二一年七月二十八日完成,發行68,000,000股本公司新股份產生所得款項17,000,000港元(未扣除開支)。

於二零二三年三月十七日,本公司與一名獨立第三方訂立認購協議,據此,本公司已同意按認購價每股0.15港元配發及發行 20,000,000股新股份。股份認購已於二零二三年四月二十四日完成, 發行 20,000,000股本公司新股份產生所得款項 3,000,000港元(未扣除開支)。

29. 資本管理

本集團資本管理之目標為確保本集團具備持續經營之能力,並透過優化負債及權益的平衡,從而為股東創造最大回報。

本集團根據債務與經調整資本之比率監察資本。該比率按債務淨額除以經調整資本計算。債務總額包括來自股東及董事、一名股東及一名董事的貸款及借貸。經調整資本包括權益之所有部分。

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

29. CAPITAL MANAGEMENT (continued)

The Group's strategy, which was unchanged from last year, was to maintain the debt-to-adjusted capital ratio as low as feasible. In order to maintain or adjust the ratio, the Group may adjust the amount of dividends paid to shareholders, issue new shares, return capital to shareholders, raise new debt financing or sell assets to reduce debt.

As at 30 June 2023, the debt-to-adjusted capital ratio of the Group is 389% (2022: 45%).

30. FINANCIAL RISK MANAGEMENT

The Group's activities expose it to a variety of financial risks: foreign currency risk, credit risk, liquidity risk and interest rate risk. The Group's overall risk management programme focuses on the unpredictability of financial markets and seeks to minimise potential adverse effects on the Group's financial performance.

Categories of financial instruments

29. 資本管理(續)

本集團的策略自去年起並無變動,以盡可能地維持較低的債務與經調整資本之比率。為維持或調整該比率,本集團或會調整支付予股東的股息金額、發行新股、退還資本予股東、籌集新的債務融資或出售資產以減少債務。

於二零二三年六月三十日,本集團債務與經調整資本之比率為389%(二零二二年: 45%)。

30. 財務風險管理

本集團的業務面臨多項財務風險:外幣風險、信貸風險、流動資金風險及利率風險。本集團的整體風險管理計劃著重於金融市場的不可預測性,並尋求最大限度降低對本集團財務表現的潛在不利影響。

金融工具之分類

		2023 二零二三年 HK\$'000	2022 二零二二年 HK\$'000
		千港元	千港元

Financial assets Trade receivables	金融資產貿易應收款項	35,359	–
Financial assets included in deposits,	計入按金、預付款項及其他應收
prepayments and other receivables	款項之金融資產	80,404	20,941
Restricted bank deposits	受限制銀行存款	105	–
Pledged bank deposits	已抵押銀行存款	25,882	–
Bank and cash balances	銀行及現金結餘	4,708	19,907

Financial assets measured at	按攤銷成本計量之金融資產
amortised cost		146,458	40,848

Financial liabilities	金融負債貿易應付款項
Trade payables Financial liabilities included in accruals	計入應計費用及其他應付款項之	44,899	6,572
and other payables	金融負債	34,383	10,963
Loans from shareholders and directors	來自股東及董事貸款	30,416	604
Loan from a shareholder	來自一名股東貸款	17,254	–
Loan from a director	來自一名董事貸款	157	–
Borrowings	借貸	4,691	23,094
Financial liabilities at amortised cost	按攤銷成本計量之金融負債	131,800	41,233

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

30. FINANCIAL RISK MANAGEMENT (continued)

Foreign currency risk

The Group has certain exposure to foreign currency risk as most of its business transactions, assets and liabilities are principally denominated in the functional currencies of the Group entities, HK\$, United States dollars ("US\$") and Renminbi ("RMB"). The Group currently does not have a foreign currency hedging policy in respect of foreign currency transactions, assets and liabilities. The Group monitors its foreign currency exposure closely and will consider hedging significant foreign currency exposure should the need arise.

As HK\$ is pegged to US\$, it is assumed that there would be no material foreign exchange risk exposure between US\$ and HK\$ and therefore US\$ is excluded from the analysis below.

The carrying amounts of the Group's RMB denominated monetary assets and monetary liabilities at the reporting date are as follows:

30. 財務風險管理(續)

外幣風險

由於本集團之大部分業務交易、資產及負債主要以本集團實體之功能貨幣港元、美元(「美元」)及人民幣(「人民幣」)計值,故其面臨若干外幣風險。本集團現時並無有關外幣交易、資產及負債之外幣對沖政策。本集團會密切監察其外幣風險並將於有需要時考慮對沖重大外幣風險。

由於港元與美元掛鈎,故假定美元與港元之間並無重大外匯風險,因此,美元排除於下文分析外。

本集團以人民幣計值之貨幣資產及貨幣負債於報告日期之賬面值如下:

	Assets 資產		Liabilities 負債
	2023	2022	2023	2022
	二零二三年	二零二二年	二零二三年	二零二二年
	HK\$'000	HK\$'000	HK\$'000	HK\$'000
	千港元	千港元	千港元	千港元
Functional currency as RMB against HK\$ 功能貨幣為人民幣兌港元	132,066	43,897	101,874	9,027
Functional currency as US\$ against HK\$ 功能貨幣為美元兌港元	4,580	41	–	608

The following table details the Group's sensitivity to a 5% (2022: 5%) increase/decrease in RMB against HK\$. 5% (2022: 5%) represents management's assessment of the reasonably possible change in foreign exchange rates. The sensitivity analysis includes only outstanding foreign currency denominated monetary items and adjusts their translation at the year end for a 5% change in foreign currency rates. The sensitivity analysis represents the trade and other receivables, trade and other payables, bank borrowings, and bank balances and cash where the denomination are in RMB, the major foreign currency risks.

下表詳列本集團於人民幣兌港元升值╱貶值5%(二零二二年:5%)時的敏感度。 5%(二零二二年:5%)代表管理層對外匯匯率之可能合理變動所作之評估。敏感度分析僅包括以外幣計值之未償還貨幣項目,並於年結日換算時就外幣匯率的5% 變動作出調整。倘以人民幣(主要外幣風險)計值,敏感度分析代表貿易及其他應收款項、貿易及其他應付款項、銀行借貸以及銀行結餘及現金。

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

30. FINANCIAL RISK MANAGEMENT (continued)

Foreign currency risk (continued)

A positive number indicates a decrease in loss for the year where RMB weakens against HK\$. For a 5% strengthens of RMB against HK\$, there would be an equal and opposite impact on the post-tax loss for the year, and the balances below would be negative.

30. 財務風險管理(續)

外幣風險(續)

正數表示人民幣兌港元貶值時之年內虧損減少。對於人民幣兌港元升值5%,其對年內除稅後虧損將有對等之相反影響,而下列結餘將為負數。

		2023 二零二三年 HK\$'000 千港元	2022 二零二二年 HK\$'000 千港元
Increase/decrease in post-tax loss for the year	年內除稅後虧損增加╱減少	1,261	2,884
In the opinion of the management, the sensitivity analysis is		管理層認為,由於年結日之風險並無反映

unrepresentative of the inherent foreign exchange risk as the year end exposure does not reflect the exposure during the year.

Credit risk

The Group's credit risk is primarily attributable to trade receivables, deposits, prepayments and other receivables and bank balances. The Group's maximum credit risk exposure at the end of the reporting period in the event of other parties failing to perform their obligations is represented by the carrying amount of each financial asset as stated in the consolidated statement of financial position.

For the maximum exposure as at 30 June 2023, management monitored the creditworthiness and payment patterns of each debtor closely and on an ongoing basis.

年內風險,故敏感度分析不代表固有外匯風險。

信貸風險

本集團的信貸風險主要來自貿易應收款項、按金、預付款項及其他應收款項以及銀行結餘。倘若其他訂約方未能履行其義務,本集團於報告期末面對的最高信貸風險相當於各金融資產在綜合財務狀況表中所列的賬面值。

就截至二零二三年六月三十日的最大風險而言,管理層會持續地密切監察各債務人的信譽度及付款模式。

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

30. FINANCIAL RISK MANAGEMENT (continued)

Credit risk (continued)

At 30 June 2023, the Group had concentrations of credit risk as 45% (2022: 29%) of the total trade receivables were due from the Group's largest external customer and 73% (2022: 94%) of the total trade receivables were due from the Group's five largest external customers.

Maximum exposure and year-end staging

The tables below shows the credit quality and the maximum exposure to credit risk based on the Group's credit policy, which is mainly based on past due information unless other information is available without undue cost or effort, and year-end staging classification as at 30 June 2023 and 2022.

The amount presented are gross carrying amounts for financial assets.

30. 財務風險管理(續)

信貸風險(續)

於二零二三年六月三十日,本集團存在信貸風險集中情況,原因是貿易應收款項總額中的45%(二零二二年:29%)來自本集團的最大外部客戶,而貿易應收款項總額中的73%(二零二二年:94%)則來自本集團的五大外部客戶。

最大風險及年末階段

下表列示基於本集團信貸政策的信貸質量及最大信貸風險(主要以過往逾期資料為依據,除非毋須付出過多成本或努力即可取得其他資料),以及於二零二三年及二零二二年六月三十日的年末階段分類。

呈列金額為金融資產賬面總值。

於二零二三年六月三十日

		12-month ECLs 12個月預期信貸虧損		Lifetime ECLs 全期預期信貸虧損
		Stage 1 第1階段 HK\$'000 千港元	Stage 2 第2階段 HK\$'000 千港元	Stage 3 第3階段 HK\$'000 千港元	Simplified approach 簡化法 HK\$'000 千港元	HK\$'000 千港元
Trade receivables Financial assets included in deposits and other receivables	貿易應收款項計入按金及其他應收款項的金融資產	–	–	22,077	36,161	58,238
— Normal	— 正常	61,895	61,460	53,013	–	176,368
Restricted bank deposits	受限制銀行存款	105	–	–	–	105
Pledged bank deposits Cash and cash equivalents	已抵押銀行存款現金及現金等價物	25,882	–	–	–	25,882
— Not yet past due	— 尚未逾期	4,708	–	–	–	4,708
		92,590	61,460	75,090	36,161	265,301

As at 30 June 2023

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

30.	FINANCIAL RISK MANAGEMENT (continued)	30.	財務風險管理(續)
	Credit risk (continued)		信貸風險(續)
	Maximum exposure and year-end staging (continued)		最大風險及年末階段(續)
	As at 30 June 2022		於二零二二年六月三十日

		12-month ECLs 12個月預期信貸虧損		Lifetime ECLs 全期預期信貸虧損
		Stage 1 第1階段 HK\$'000 千港元	Stage 2 第2階段 HK\$'000 千港元	Stage 3 第3階段 HK\$'000 千港元	Simplified approach 簡化法 HK\$'000 千港元	HK\$'000 千港元
Trade receivables Financial assets included in deposits	貿易應收款項計入按金及其他應收款項的	–	–	23,257	–	23,257
and other receivables — Normal Cash and cash equivalents	金融資產 — 正常現金及現金等價物	35,439	91,841	24,984	–	152,264
— Not yet past due	— 尚未逾期	19,907	–	–	–	19,907
		55,346	91,841	48,241	–	195,428

Trade receivables

Customer credit risk is managed by each business unit subject to the Group's established policy, procedures and control relating to customer credit risk management. Individual credit evaluations are performed on all customers requiring credit over a certain amount. These evaluations focus on the customer's past history of making payments when due and current ability to pay, and take into account information specific to the customer as well as pertaining to the economic environment in which the customer operates. Trade receivables are due within 0–60 days from the date of billing. Debtors with balances that are more than 3–6 months past due are requested to settle all outstanding balances before any further credit is granted. Other monitoring procedures are in place to ensure that follow-up procedures are taken to recover overdue debts.

貿易應收款項

客戶信貸風險由各業務單位管理,並須遵守本集團所制定與客戶信貸風險管理相關之政策、程序及控制。本集團將就要求一定金額信貸之全部客戶進行獨立信貸評估。該等評估集中於客戶在款項到期時之過往付款記錄及現時支付能力,並計及客戶之特定資料以及客戶經營所在經濟環境之資料。貿易應收款項自開票日期起計0 至60天內到期。欠款逾期超過3至6個月的債務人須於清償所有未償還結餘後,方始獲授任何額外信貸。本集團制訂其他監控程序,以確保採取後續程序收回逾期債務。

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

30. FINANCIAL RISK MANAGEMENT (continued)

Credit risk (continued)

Trade receivables (continued)

The Group measures loss allowances for trade receivables at an amount equal to lifetime ECL, which is calculated using the probability of default, loss given default and the exposure at default with reference to the historical data of the market of the debtors' industry and relevant forward looking information.

The following table provides information about the Group's exposure to credit risk and ECLs for trade receivables as at 30 June 2023 and 2022:

30. 財務風險管理(續)

信貸風險(續)

貿易應收款項(續)

本集團按與全期預期信貸虧損等額的方法計量貿易應收款項之虧損撥備,其乃經參考債務人行業市場過往數據及相關前瞻性資料後根據違約概率、違約虧損及違約風險計算。

下表載列有關本集團於二零二三年及二零二二年六月三十日之貿易應收款項的信貸風險及預期信貸虧損之資料:

		Average expected loss rate 平均預期虧損率 %	Gross carrying amount 賬面總值 HK\$'000 千港元	Loss allowance 虧損撥備 HK\$'000 千港元

As at 30 June 2023	於二零二三年六月三十日
Not past due	未逾期	3.84%	7,677	295
1–30 days past due	逾期1至30日	–	–	–
31–60 days past due	逾期31至60日	–	–	–
61–90 days past due	逾期61至90日	1.80%	2,441	44
91–180 days past due	逾期91至180日	1.78%	26,043	463
181–365 days past due	逾期181至365日	–	–	–
More than 365 days past due	逾期365日以上	100%	22,077	22,077
			58,238	22,879

		Average expected loss rate 平均預期虧損率 %	Gross carrying amount 賬面總值 HK\$'000 千港元	Loss allowance 虧損撥備 HK\$'000 千港元
As at 30 June 2022 More than 365 days past due	於二零二二年六月三十日逾期365日以上	100%	23,257	23,257

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

30.	FINANCIAL RISK MANAGEMENT (continued)	30.	財務風險管理(續)
	Credit risk (continued)		信貸風險(續)
	Trade receivables (continued)		貿易應收款項(續)
	During the year, with reference to the assessment performed by Ravia Global Appraisal Advisory Limited (2022: B.I. Appraisals Limited), the management of the Company reassessed and updated the average expected loss rates based on the forward-looking information available to the Company.		於年內,經參考瑞豐環球評估諮詢有限公司(二零二二年:保柏國際評估有限公司) 進行的評估,本公司管理層根據本公司可得的前瞻性資料重新評估及更新平均預期虧損率。
	Normally, the Group does not obtain collateral from customers.		一般而言,本集團不會向客戶收取抵押品。

The movements in the loss allowance account in respect of trade receivables for the years ended 30 June 2023 and 2022 are as follows:

截至二零二三年及二零二二年六月三十日止年度,有關貿易應收款項之虧損撥備賬變動如下:

		2023 二零二三年 HK\$'000 千港元	2022 二零二二年 HK\$'000 千港元
At the beginning of the year (Reversal of impairment losses)/ impairment losses recognised for	於年初 (減值虧損撥回)╱年內確認之減值虧損	23,257	15,069
the year		(378)	8,188

At the end of the year	於年末	22,879	23,257

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

30. FINANCIAL RISK MANAGEMENT (continued)

Credit risk (continued)

Deposits, prepayments and other receivables

The directors consider that, pursuant to the Group's accounting policies, the Group's advance payments to suppliers (included in prepayments) are accounted for as financial assets as, in accordance with the service contracts entered into with the suppliers, the Group is entitled to demand repayments for unused advance payments upon or after expiry of the contracts. Accordingly, the advance payments to the suppliers are also subject to assessment of ECL.

For the internal credit risk management, the Group has applied the general approach in HKFRS 9 to measure the expected credit loss allowance at 12-month expected credit losses on deposits, advance payments to suppliers and other receivables unless the directors of the Company consider that there is significant increase in credit risk since initial recognition. The Group determine the expected credit losses for deposits, advance payments to suppliers and other receivables balances by assessment of the probability of default, loss given default and the exposure at default with reference to the historical data of the market and industry and relevant forward looking information.

The movements in the loss allowance for deposits, prepayments and other receivables for the years ended 30 June 2023 and 2022 are as follows:

30. 財務風險管理(續)

信貸風險(續)

按金、預付款項及其他應收款項

董事認為,根據本集團之會計政策,本集團墊付予供應商之款項(計入預付款項)乃根據與供應商訂立之服務合約入賬列作金融資產。本集團有權於合約屆滿時或之後要求償還未動用之墊付按金。因此,墊付予供應商之款項亦須進行預期信貸虧損評估。

就內部信貸風險管理而言,本集團已應用香港財務報告準則第9號的一般方法,以按金、墊付予供應商之款項及其他應收款項的12個月預期信貸虧損計量預期信貸虧損撥備,除非本公司董事認為信貸風險自初始確認起顯著增加。本集團經參考市場及行業過往數據以及相關前瞻性資料, 並通過評估違約概率、違約虧損及違約風險釐定按金、墊付予供應商之款項及其他應收款項結餘的預期信貸虧損。

截至二零二三年及二零二二年六月三十日止年度,有關按金、預付款項及其他應收款項之虧損撥備變動如下:

		2023 二零二三年 HK\$'000 千港元	2022 二零二二年 HK\$'000 千港元
At the beginning of the year Impairment losses recognised for the year Transferred to assets classified as	於年初年內確認之減值虧損轉撥至分類為持作出售之資產	84,000 11,987	22,978 61,022
held-for-sale		(23)	–
At the end of the year	於年末	95,964	84,000

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

30. FINANCIAL RISK MANAGEMENT (continued)

Liquidity risk

in the short and longer term.

30. 財務風險管理(續)

流動資金風險

本集團的政策為定期監察現時及預期流動資金需求以確保其留置充足現金儲備滿足其短期及長期流動資金需求。

The maturity analysis based on contractual undiscounted cash flows of the Group's non-derivative financial liabilities is as follows:

The Group's policy is to regularly monitor current and expected liquidity requirements to ensure that it maintains sufficient reserves of cash to meet its liquidity requirements

本集團非衍生金融負債按已訂約未貼現現金流量之到期日分析如下:

		Weighted average effective interest rate 加權平均實際利率 %	On demand or less than 1 year 按要求或 1年內 HK\$'000 千港元	Between 1 and 2 years 1至2年 HK\$'000 千港元	Between 2 and 5 years 2至5年 HK\$'000 千港元	Total undiscounted cash flows 未貼現現金流量總額 HK\$'000 千港元	Carry Value 賬面值 HK\$'000 千港元
30 June 2023	二零二三年六月三十日
Trade and bills payables Accruals and other payables Loans from shareholders and directors來自股東及董事貸款 Loan from a shareholder Loan from a director Borrowings	貿易應付款項及應付票據應計費用及其他應付款項來自一名股東貸款來自一名董事貸款借貸	N/A不適用 N/A不適用 3.92% 4.35% N/A不適用 2.00%	44,899 34,383 31,609 18,005 157 4,832	– – – – – –	– – – – – –	44,899 34,383 31,609 18,005 157 4,832	44,899 34,383 30,416 17,254 157 4,691
			133,885	–	–	133,885	131,800
Liabilities associated with assets classified as held-for-sale	與分類為持作出售之資產有關之負債	N/A不適用	5,239	–	–	5,239	5,239
Lease liabilities	租賃負債	4.39%	243	42	–	285	282
30 June 2022	二零二二年六月三十日
Trade payables Accruals and other payables Loan from a shareholder and director 來自一名股東及董事貸款 Borrowings	貿易應付款項應計費用及其他應付款項借貸	N/A不適用 N/A不適用 4.35% 2.60%	6,572 10,963 604 9,326	– – – 13,768	– – – –	6,572 10,963 604 23,094	6,572 10,963 604 23,094
			27,465	13,768	–	41,233	41,233
Lease liabilities	租賃負債	2.09%	293	178	–	471	463

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

30. FINANCIAL RISK MANAGEMENT (continued)

Interest rate risk

The Group is exposed to fair value interest rate risk in relation to fixed-rate bank borrowings. The Group has not used any derivatives to hedge against the risk as the directors of the Company consider that Group's exposure to fair value interest rate risk is not significant.

The Group is exposed to cash flow interest rate risk in relation to variable-rate bank balances. It is the Group's policy to keep its bank balances at floating rate of interests so as to minimise the fair value interest rate risk.

The directors of the Company consider the Group's exposure to interest rate risk relating to variable-rate bank balances is insignificant. Accordingly, no sensitivity analysis is presented.

30. 財務風險管理(續)

利率風險

本集團面臨有關定息銀行借貸的公平值利率風險。本集團並無使用任何衍生工具對沖風險,原因是本公司董事認為本集團面臨的公平值利率風險並不重大。

本集團面臨有關浮動利率銀行結餘的現金流量利率風險。本集團的政策為以浮動利率維持其銀行結餘,以盡量降低公平值利率風險。

本公司董事認為,本集團面臨有關浮動利率銀行結餘的利率風險並不重大。因此, 並無成列敏感度分析。

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

31. STATEMENT OF FINANCIAL POSITION AND RESERVES MOVEMENTS OF THE COMPANY

31. 本公司財務狀況表及儲備變動

		2023 二零二三年 HK\$'000	2022 二零二二年 HK\$'000
		千港元	千港元
Non-current asset Investments in subsidiaries	非流動資產於附屬公司之投資	1	1
Current assets	流動資產
Deposits, prepayments and other	按金、預付款項及其他應收款項
receivables		1	1
Amounts due from subsidiaries	應收附屬公司款項	–	–
Bank and cash balances	銀行及現金結餘	28	286
Total current assets	流動資產總值	29	287

Current liabilities	流動負債
Accruals and other payables Amounts due to subsidiaries	應計費用及其他應付款項應付附屬公司款項	10,506 45,350	2,595 49,311

		55,856	51,906

Net current liabilities	流動負債淨值	(55,827)	(51,619)
NET LIABILITIES	負債淨值	(55,826)	(51,618)

Capital and reserves	資本及儲備
Share capital Reserves	股本儲備	5,080 (60,906)	4,880 (56,498)

TOTAL DEFICIT	虧絀總額	(55,826)	(51,618)

The Company's statement of financial position was approved by the board of directors on 29 September 2023 and are signed on its behalf by:

本公司財務狀況表已由董事會於二零二三年九月二十九日批准並由下列董事代表簽署:

ZHU Yongjun TIAN Yuan 朱勇軍田園 Director Director 董事董事

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

31. STATEMENT OF FINANCIAL POSITION AND RESERVES MOVEMENTS OF THE COMPANY (continued)

本公司財務狀況表及儲備變動(續)

		Share premium 股份溢價 HK\$'000 千港元	Accumulated losses 累計虧損 HK\$'000 千港元	Total 總計 HK\$'000 千港元
At 1 July 2021 Loss for the year Issue of shares (note 28)	於二零二一年七月一日年內虧損發行股份(附註28)	44,582 16,320 –	(50,039) – (67,361)	(5,457) 16,320 (67,361)
At 30 June 2022 and 1 July 2022	於二零二二年六月三十日及二零二二年七月一日	60,902	(117,400)	(56,498)
Loss for the year Issue of shares (note 28)	年內虧損發行股份(附註28)	– 2,800	(7,208) –	(7,208) 2,800
At 30 June 2023	於二零二三年六月三十日	63,702	(124,608)	(60,906)

32. SHARE OPTION SCHEME

32. 購股權計劃

The Company administers a share option scheme (the "Share Option Scheme") which was adopted on 28 January 2015 by a shareholders' written resolution. The purpose of the Share Option Scheme is to enable the Group to grant options to selected participants as incentives and rewards for their contribution to the Group. It became effective for a period of 10 years commencing on the date on which the Share Option Scheme was adopted. Eligible participants of the Share Option Scheme include employees, directors, suppliers, customers, shareholders, advisers or consultants, research, development or other technological support personnel or entities of the Company, its subsidiaries or any entity ("Invested Entity") in which any member of the Group holds an equity interest and other selected participants (the "Eligible Participants").

The total number of shares which may be issued and allotted upon the exercise of all options to be granted under the Share Option Scheme is 40,000,000 shares, representing 8.20% of the total number of issued shares as at the date of this annual report.

本公司執行一項根據股東書面決議案於二零一五年一月二十八日採納之購股權計劃 (「購股權計劃」)。購股權計劃旨在令本集團能向經選定參與者授出購股權,作為彼等為本集團所作貢獻的獎賞及獎勵。其自購股權計劃獲採納當日起計10年期間有效。購股權計劃之合資格參與者包括本公司、其附屬公司或本集團任何成員公司持有股權之任何實體(「接受投資實體」)之僱員、董事、供應商、客戶、股東、顧問或諮詢人、提供研究、開發或其他技術支持之人員或實體以及其他選定參與者(「合資格參與者」)。

於所有根據購股權計劃授出之購股權獲行使時可能發行及配發之股份總數為 40,000,000股,佔於本年報日期已發行股份總數的8.20%。

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

32. SHARE OPTION SCHEME (continued)

The maximum number of shares which may be issued upon the exercise of all outstanding options granted and yet to be exercised under the Share Option Scheme and any other share option scheme adopted by the Group must not in aggregate exceed 30% of the share capital of the Company in issue from time to time. The total number of the shares which may be allotted and issued upon the exercise of all options (excluding, for this purpose, options which have lapsed in accordance with the terms of the Share Option Scheme and any other share option scheme of the Group) to be granted under the Share Option Scheme and any other share option scheme of the Group must not in aggregate exceed 10% of the shares in issue on the date of listing, subject to refreshment of such limit as approved by shareholders.

The total number of shares issued and which may fall to be issued upon the exercise of the options granted under the Share Option Scheme and any other share option scheme of the Group (including both exercised or outstanding options) to each grantee in any 12-month period shall not exceed 1% of the issued share capital of the Company for the time being. Any further grant of options in excess of such limit must be separately approved by the shareholders in general meeting. Where any grant of options to a substantial shareholder or an independent non-executive director or any of their respective close associates would result in the shares issued and to be issued upon exercise of all options already granted and to be granted (including options exercised, cancelled and outstanding) to such person in the 12-month period up to and including the date of such grant: (i) representing in aggregate over 0.1% of the shares in issue; and (ii) having an aggregate value, based on the closing price of the shares at the date of each offer for the grant, in excess of HK\$5 million, such further grant of options must be approved by shareholders in general meeting.

32. 購股權計劃(續)

於購股權計劃或本集團採納之任何其他購股權計劃項下之全部已授出但尚未行使之購股權獲行使時可能發行之股份總數最多不得超過本公司不時已發行股本之30%。於根據購股權計劃及本集團任何其他購股權計劃將授出之全部購股權(就此而言不包括根據購股權計劃及本集團任何其他購股權計劃之條款已失效之購股權)獲行使時可能配發及發行之股份總數合共不得超過於上市日期已發行股份之10%,惟該上限之更新須獲股東批准。

於任何12個月期間根據購股權計劃及本集團任何其他購股權計劃向各承授人授出之購股權(包括已行使或尚未行使之購股權)獲行使時已發行及可予發行之股份總數不得超過本公司當時已發行股本之 1%。進一步授出任何超過此限額之購股權須獨立於股東大會上獲股東批准。倘向主要股東或獨立非執行董事或任何彼等各自之緊密聯繫人授出任何購股權將導致於截至有關授出日期(包括該日)止12個月期間向該等人士已發行及於已授出及將予授出之全部購股權(包括已行使、已註銷及尚未行使之購股權)獲行使時將予發行之股份數目:(i)合共超過已發行股份之 0.1%;及(ii)基於各授出要約日期股份收市價計算之總值超逾5,000,000港元,則進一步授出該等購股權須於股東大會上獲股東批准。

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

32. SHARE OPTION SCHEME (continued)

Under the Share Option Scheme, the directors may, at their discretion, grant to any Eligible Participants options to subscribe for shares at an subscription price per share being not less than the highest of (i) the closing price of the shares as stated in the Stock Exchange's daily quotations sheet for trade in one or more board lots of the shares on the date of the offer for the grant, which must be a business day; (ii) the average closing price of shares as stated in the Stock Exchange's daily quotations for the five business days immediately preceding the date of the offer for the grant; and (iii) the nominal value of a share. A nominal consideration of HK\$1 is payable on acceptance of the grant of an option.

An option may be accepted by a participant within 21 days from the date of the offer for the grant of option. An option may be exercised in accordance with the terms of the Share Option Scheme at any time during a period to be determined and notified by the directors to each grantee, which period may commence from the date of the offer for the grant of options is made, but shall end in any event not later than 10 years from the date of grant of the option subject to the provisions for early termination thereof. Unless otherwise determined by the directors and stated in the offer for the grant of options to a grantee, there is no minimum period required under the Share Option Scheme for the holding of an option before it can be exercised.

During the period from the effective date of the Share Option Scheme to 30 June 2023, no share option has been granted, expired, lapsed, exercised or cancelled.

32. 購股權計劃(續)

根據購股權計劃,董事可酌情決定向任何合資格參與者授出購股權,以按不低於(i) 於要約授出日期(必須為營業日)在聯交所每日報價表上所列買賣一手或以上股份買賣單位之股份收市價;(ii)緊接要約授出日期前五個營業日在聯交所每日報價表上所列之股份平均收市價;及(iii)股份之面值 (以最高者為準)之每股認購價認購股份。於接納所授出購股權時須支付1港元之名義代價。

參與者可於授出購股權要約當日起計21 日內接納購股權。購股權可根據購股權計劃之條款於董事將釐定及知會各承授人之期間內任何時間獲行使,該期間可自作出授出購股權之要約當日起計,惟無論如何須於購股權授出當日起計10年內終止, 並受有關購股權提前終止的條文所規限。除非董事另有決定並於授予承授人購股權的要約中列明,否則購股權計劃並無規定購股權可予行使前須持有的最短期限。

於購股權計劃生效日期起至二零二三年六月三十日止期間,概無購股權獲授出、屆滿、失效、獲行使或註銷。

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

33. RETIREMENT BENEFIT SCHEMES

The Group operates a Mandatory Provident Fund Scheme ("MPF Scheme") for all qualified employees in Hong Kong under the Mandatory Provident Fund Schemes Ordinance. The assets of the MPF Scheme are held separately from those of the Group in funds under the control of an independent trustee. Under the rule of the MPF Scheme, the employer and its employees are each required to make contributions to the scheme at a rate of 5% specified in the rules, but subject to a cap of HK\$1,500 per month. The only obligation of the Group with respect of MPF Scheme is to make the required contributions under the scheme. No forfeited contribution is available to reduce the contribution payable in the future years.

The employees employed in the PRC are members of the state-managed retirement benefit schemes operated by the PRC government. The PRC subsidiaries are required to contribute a certain percentage of their basic payroll to the retirement benefit schemes to fund the benefits. The only obligation of the Group with respect to the retirement benefit schemes is to make the required contributions under the schemes. No forfeited contribution is available to reduce the contribution payable in future years.

During the year ended 30 June 2023, the total contribution charged to profit or loss amounted to HK\$970,000 (2022: HK\$1,336,000).

34. NOTES TO THE CONSOLIDATED STATEMENT OF CASH FLOWS

(a) Non-cash transaction

During the year ended 30 June 2023, the Group had addition of right-of-use assets with the carrying amount of HK\$486,000 (2022: HK\$621,000). During the year ended 30 June 2022, the Group had proceeded from disposal of machineries in the form of cryptocurrencies amounted to HK\$24,675,000 and payments for acquisition of machineries in the form of cryptocurrencies amounted to HK\$24,705,000.

33. 退休福利計劃

本集團根據強制性公積金計劃條例為所有合資格僱員設立強制性公積金計劃(「強積金計劃」)。強積金計劃的資產於獨立受託人控制的基金中與本集團的資產分開持有。根據強積金計劃的規則,僱主及其僱員均須按規則規定的5%比率向該計劃供款,但每月上限為1,500港元。本集團就強積金計劃的唯一責任是根據該計劃作出所需供款。並無沒收的供款可用於減少未來年度的應付供款。

在中國僱用的僱員為中國政府運營的國家管理退休福利計劃的成員。中國附屬公司須按其基本工資的一定比例向退休福利計劃供款,以為福利提供資金。本集團就退休福利計劃的唯一責任是根據計劃作出所需供款。並無沒收的供款可用於減少未來年度的應付供款。

於截至二零二三年六月三十日止年度, 於損益扣除的供款總額為970,000港元 (二零二二年:1,336,000港元)。

34. 綜合現金流量表附註

(a) 非現金交易

截至二零二三年六月三十日止年度, 本集團擁有添置使用權資產之賬面值486,000港元( 二零二二年: 621,000港元)。截至二零二二年六月三十日止年度,本集團擁有以加密貨幣出售機器所得款項24,675,000 港元及以加密貨幣收購機器款項 24,705,000港元。

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

34. NOTES TO THE CONSOLIDATED STATEMENT OF CASH FLOWS (continued)

綜合現金流量表附註(續)

(b) Reconciliation of liabilities arising from financing activities

(b) 融資活動產生之負債對賬

		Advance
		payments			Loans from
		received		Lease	shareholders	Loan from	Loan from
		from share	Borrowings	liabilities	and directors	a shareholder	a director
		subscription	(note 26)	(note 16(b))	(note 25)	(note 25)	(note 25)
					來自股東及	來自一名	來自一名
		股份認購所得	借貸	租賃負債	董事貸款	股東貸款	董事貸款
		墊付款項	(附註26)	(附註16(b))	(附註25)	(附註25)	(附註25)
		HK\$'000	HK\$'000	HK\$'000	HK\$'000	HK\$'000	HK\$'000
		千港元	千港元	千港元	千港元	千港元	千港元
At 1 July 2021	於二零二一年七月一日	6,300	10,162	454	–	–	–
Changes from financing	融資現金流量變動
cash flows		–	13,267	(619)	(26)	–	–
New leases	新租賃	–	–	621	–	–	–
Interest expense	利息開支	–	267	7	26	–	–
Exchange realignment	匯兌調整	–	–	–	2	–	–
Reclassification	重新分類	(6,300)	(602)	–	602	–	–

At 30 June 2022 and 1 July 2022 於二零二二年六月
	三十日及二零二二年
	七月一日	–	23,094	463	604	–	–
Changes from financing cash flows	融資現金流量變動	–	(7,055)	(515)	31,773	10,139	164
New leases	新租賃	–	–	486	–	–	–
Interest expense	利息開支	–	–	25	–	–	–
Exchange realignment	匯兌調整	–	(962)	–	(1,961)	(771)	(7)
Reclassification	重新分類	–	(7,886)	(177)	–	7,886	–

At 30 June 2023	於二零二三年六月三十日
		–	7,191	282	30,416	17,254	157

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

35. RELATED PARTY TRANSACTIONS

Other than those related party transactions and balances disclosed elsewhere in the consolidated financial statements, the Group had the following significant transactions and balances with its related parties during the year:

Compensation of key management personnel

The remunerations of directors of the Company and other members of key management during the period was as follows:

35. 關聯方交易

除綜合財務報表其他部分披露之關聯方交易及結餘外,本集團年內與關聯方進行之重大交易及結餘如下:

主要管理人員之薪酬

於本期間,本公司董事及其他主要管理層成員之薪酬如下:

		2023 二零二三年 HK\$'000 千港元	2022 二零二二年 HK\$'000 千港元
Salaries and other benefits Retirement benefit scheme contributions	薪金及其他福利退休福利計劃供款	1,345 38	1,590 18
		1,383	1,608

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

36. PARTICULARS OF PRINCIPAL SUBSIDIARIES

主要附屬公司之詳情

Particulars of the Company's principal subsidiaries as at 30 June 2023 and 2022 are as follows:

於二零二三年及二零二二年六月三十日, 本公司主要附屬公司的詳情如下:

Company Name	Place of incorporation/ registration and operation	Form of business structure	Particular of issued share capital		Proportion of ownership interest/voting rights/profit sharing			Principal activities
公司名稱	註冊成立╱註冊及經營所在地點業務架構形式		已發行股本詳情	Direct 直接	擁有權權益╱投票權╱應佔溢利比例	Indirect 間接		主營業務
				2023 二零二三年	2022 二零二二年	2023 二零二三年	2022 二零二二年
United Mutual Holdings Limited ("United Mutual") United Mutual Holdings Limited(「United Mutual」)	Republic of Seychelles 塞舌爾共和國	Limited liability company 有限公司	US\$100 (Ordinary share capital) 100美元(普通股本)	100%	–	100%		– Investment holding 投資控股
Right Fortress Limited 韋保有限公司	Hong Kong 香港	Limited liability company 有限公司	HK\$1 1港元	–	100%	–		100% Administrative for the group 集團行政管理
Million Stars (HK) Investments Limited	Hong Kong	Limited liability company	HK\$1	–	100%	–		100% Investment holding
萬利星(香港)投資有限公司 Million Stars Internet Media	香港 Hong Kong	有限公司 Limited liability	1港元 HK\$1	–	100%	–		投資控股 100% Internet advertising
Limited 萬星網絡傳媒有限公司	香港	company 有限公司	1港元					agency services 互聯網廣告代理服務
Jade King Investment Limited 雋景投資有限公司	Hong Kong 香港	Limited liability company 有限公司	HK\$1 1港元	–	100%	–		100% Investment holding 投資控股
深圳市龍遊世紀科技有限公司 (Shenzhen Longyou Shiji	PRC	Limited liability company	HK\$20,000,000 (Registered capital)	–	100%	–		100% Internet advertising agency services
Technology Limited)* 深圳市龍遊世紀科技有限公司	中國	有限公司	20,000,000港元 (註冊資本)					互聯網廣告代理服務
Ai Wan Yue	PRC	Limited liability company	RMB10,000,000 (Registered capital)	–	100%	–		100% Internet advertising agency services
愛玩悅	中國	有限公司	人民幣10,000,000元 (註冊資本)					互聯網廣告代理服務
Dongrun Hudong	PRC	Limited liability company	RMB35,000,000 (Registered capital)	–	100%	–		100% Investment holding
東潤互動	中國	有限公司	人民幣35,000,000元 (註冊資本)					投資控股

For the year ended 30 June 2023 截至二零二三年六月三十日止年度

36. PARTICULARS OF PRINCIPAL SUBSIDIARIES

主要附屬公司之詳情(續)

	(continued)

Company Name	Place of incorporation/ registration and operation 註冊成立╱註冊	Form of business structure	Particular of issued share capital		Proportion of ownership interest/voting rights/profit sharing			Principal activities
公司名稱	及經營所在地點業務架構形式		已發行股本詳情	Direct 直接	擁有權權益╱投票權╱應佔溢利比例	Indirect 間接		主營業務
				2023 二零二三年	2022 二零二二年	2023 二零二三年	2022 二零二二年
南京盛趣網絡科技有限公司 (Nanjing Shengqu Internet	PRC	Limited liability company	RMB10,000,000 (Registered capital)	–	100%	–		100% Internet advertising agency services
Technology Limited)* 南京盛趣網絡科技有限公司	中國	有限公司	人民幣10,000,000元 (註冊資本)					互聯網廣告代理服務
上海萬星網絡科技有限公司 (Shanghai Wanxing Network Technology Limited)*	PRC	Limited liability company	HK\$60,000,000 (Registered capital)	–	100%	–		100% Internet advertising agency services
上海萬星網絡科技有限公司	中國	有限公司	60,000,000港元 (註冊資本)					互聯網廣告代理服務
霍爾果斯東潤網絡科技有限公司 (Horgos Dongrun Network	PRC	Limited liability company	RMB30,000,000 (Registered capital)	–	100%	–		100% Internet advertising agency services
Technology Co., Ltd.)* 霍爾果斯東潤網絡科技有限公司	中國	有限公司	人民幣30,000,000元 (註冊資本)					互聯網廣告代理服務
Anyz Ltd.	Kazakhstan	Limited liability company	US\$100	–	100%	–		100% Digital assets business
Anyz Ltd.	哈薩克斯坦	有限公司	100美元					數字資產業務
雋景商業管理(浙江)有限公司	PRC	Limited liability company	US\$10,000,000 (Registered capital)	–	100%	–		100% Corporate advisory services
雋景商業管理(浙江)有限公司	中國	有限公司	10,000,000美元 (註冊資本)					企業諮詢服務

* 中國公司名稱的英文譯文僅供識別。 * The English translation of the name is for identification purpose for PRC company only.

FIVE YEAR FINANCIAL SUMMARY 五年財務概要

A summary of the results and of the assets and liabilities of the Group for each of the five years ended 30 June 2019, 2020, 2021, 2022 and 2023, as extracted from the annual reports for the years ended 30 June 2019, 2020, 2021, 2022 and 2023, is set out below:

本集團截至二零一九年、二零二零年、二零二一年、二零二二年及二零二三年六月三十日止五個年度各年之業績及資產與負債概要(其乃摘錄自截至二零一九年、二零二零年、二零二一年、二零二二年及二零二三年六月三十日止年度之年報)載列如下:

		Year ended 30 June 截至六月三十日止年度
		2023 二零二三年 HK\$'000 千港元	2022 二零二二年 HK\$'000 千港元	2021 二零二一年 HK\$'000 千港元	2020 二零二零年 HK\$'000 千港元	2019 二零一九年 HK\$'000 千港元
Results	業績
Revenue	收入	69,962	46,442	209,261	434,314	270,729
Net loss for the year	本年度淨虧損	(29,991)	(99,493)	(44,130)	(44,039)	(36,606)
Net loss for the year attributable to owners of the Company	本公司擁有人應佔本年度淨虧損	(29,991)	(99,493)	(44,130)	(44,039)	(36,606)
As at 30 June

	As at 30 June
		於六月三十日
		2023	2022	2021	2020	2019
		二零二三年	二零二二年	二零二一年	二零二零年	二零一九年
		HK\$'000	HK\$'000	HK\$'000	HK\$'000	HK\$'000
		千港元	千港元	千港元	千港元	千港元
Assets and liabilities	資產及負債
Total assets	資產總值	154,603	96,703	198,302	268,442	288,651
Total liabilities	負債總額	(141,106)	(43,951)	(66,532)	(103,608)	(78,786)

Total equity	權益總額	13,497	52,752	131,770	164,834	209,865

香港財務報告準則第3號(修訂本)	概念框架之提述
香港會計準則第16號(修訂本)	物業、廠房及設備: 擬定用途前之所得款項
香港會計準則第37號(修訂本) 香港財務報告準則 (修訂本)	虧損性合約 — 履行合約之成本二零一八年至二零二零年香港財務報告準則之年度改進

AI assistant

Web3 Meta Limited — Annual Report 2023

51265_rns_2023-09-29_b0b392de-a649-488b-aed0-8e84bf3e3012.pdf

CHARACTERISTICS OF GEM OF THE STOCK EXCHANGE OF HONG KONG LIMITED (THE "STOCK EXCHANGE")

香港聯合交易所有限公司(「聯交所」)GEM特色

CONTENTS 目錄

CORPORATE INFORMATION 公司資料

BOARD OF DIRECTORS

Executive Directors

Independent Non-Executive Directors

AUDIT COMMITTEE

REMUNERATION COMMITTEE

NOMINATION COMMITTEE

CORPORATE GOVERNANCE COMMITTEE

AUTHORISED REPRESENTATIVES

COMPANY SECRETARY

COMPLIANCE OFFICER

REGISTERED OFFICE

董事會

執行董事

獨立非執行董事

審核委員會

薪酬委員會

提名委員會

企業管治委員會

授權代表

公司秘書

監察主任

註冊辦事處

CORPORATE INFORMATION 公司資料

HEADQUARTERS AND PRINCIPAL PLACE OF BUSINESS

PRINCIPAL SHARE REGISTRAR

HONG KONG BRANCH SHARE REGISTRAR

PRINCIPAL BANKERS

AUDITORS

WEBSITE

STOCK CODE

總辦事處及主要營業地點

股份過戶登記總處

香港股份過戶登記分處

主要往來銀行

核數師

網站

股份代號

CHAIRMAN'S STATEMENT 主席報告

CHAIRMAN'S STATEMENT 主席報告

INTRODUCTION

BUSINESS REVIEW

簡介

業務回顧

OUTLOOK

展望

FINANCIAL REVIEW

Revenue

Cost of Sales and Gross Loss

財務回顧

收入

銷售成本及毛損

Other Income, Gains and Losses, Net

Selling and Distribution Expenses

Administrative Expenses

Finance Costs

Income Tax Expense

其他收入、收益及虧損淨額

銷售及分銷開支

行政開支

財務成本

所得稅開支

Loss for the Year

Financial Position, Liquidity and Financial Resources

Property, Plant and Equipment

Trade Receivables

年內虧損

財務狀況、流動資金及財務資源

物業、廠房及設備

貿易應收款項

Financial Management Policies

Charge over Assets of the Group

Capital Commitments

Contingent Liabilities

Web3 Meta Limited Annual Report 2023

執行董事朱勇軍