Web3 Meta Limited — Annual Report 2024

Oct 28, 2024

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
13	Biographical Details of Directors and Senior Management	董事及高級管理人員簡歷
19	Report of the Directors	董事報告
35	Corporate Governance Report	企業管治報告
60	Environmental, Social and Governance Report	環境、社會及管治報告
96	Independent Auditor's Report	獨立核數師報告
104	Consolidated Statement of Profit or Loss and Other Comprehensive Income	綜合損益及其他全面收益表
105	Consolidated Statement of Financial Position	綜合財務狀況表
107	Consolidated Statement of Changes in Equity	綜合權益變動表
108	Consolidated Statement of Cash Flows	綜合現金流量表
110	Notes to the Consolidated Financial Statements	綜合財務報表附註
208	Five Year Financial Summary	五年財務概要

CORPORATE INFORMATION 公司資料

BOARD OF DIRECTORS

Executive Directors

Mr. ZENG Jin (Chairman) (appointed on ⁴ June 2024) Mr. GAN Xiaohua (ceased as co-chairman with effect from 4 June 2024) Ms. TIAN Yuan (ceased as co-chairman with effect from 4 June 2024) Ms. LIU Qin (appointed on ⁴ June 2024) Mr. ZHU Yongjun (retired on 16 November 2023)

Independent Non-Executive Directors

Mr. CHEN Ce Ms. JIANG Ying Mr. LAM, Anthony Tze Cheung (appointed on ¹¹ January 2024) Ms. ZHU Minli (resigned on ¹¹ January 2024)

AUDIT COMMITTEE

Mr. CHEN Ce — Chairman Ms. JIANG Ying Mr. LAM, Anthony Tze Cheung

REMUNERATION COMMITTEE

Mr. LAM, Anthony Tze Cheung — Chairman Mr. CHEN Ce Ms. JIANG Ying

NOMINATION COMMITTEE

Mr. LAM, Anthony Tze Cheung — Chairman Mr. CHEN Ce Ms. JIANG Ying

CORPORATE GOVERNANCE COMMITTEE

Mr. CHEN Ce — Chairman Ms. JIANG Ying Mr. LAM, Anthony Tze Cheung

AUTHORISED REPRESENTATIVES

Ms. TIAN Yuan Ms. FOO Man Yee Carina

COMPANY SECRETARY

Ms. FOO Man Yee Carina (ACG HKACG)

COMPLIANCE OFFICER

Mr. ZENG Jin (appointed on ⁴ June 2024) Ms. TIAN Yuan (ceased on ⁴ June 2024)

REGISTERED OFFICE

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

董事會

執行董事

曾金先生(主席)(於二零二四年六月四日獲委任) 甘曉華先生(自二零二四年六月四日起不再 擔任聯席主席) 田園女士(自二零二四年六月四日起不再 擔任聯席主席) 劉芹女士(於二零二四年六月四日獲委任) 朱勇軍先生(於二零二三年十一月十六日退任)

獨立非執行董事

陳策先生 江穎女士 林子翔先生(於二零二四年一月十一日獲委任) 朱敏麗女士(於二零二四年一月十一日辭任)

審核委員會

陳策先生 — 主席 江穎女士 林子翔先生

薪酬委員會

林子翔先生 — 主席 陳策先生 江穎女士

提名委員會

林子翔先生 — 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 林子翔先生

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

曾金先生(於二零二四年六月四日獲委任) 田園女士(於二零二四年六月四日不再 擔任該職務)

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

Prism Hong Kong Limited Registered Public Interest Entity Auditor Units 1903A–1905, 19/F 8 Observatory Road Tsim Sha Tsui, Hong Kong

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

栢淳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

網站

www.millionstars.hk

股份代號

8093

CHAIRMAN'S STATEMENT 主席報告

Dear Shareholders, Investors and Partners,

Looking back at 2023, while the global economy suffered a sluggish recovery and geopolitical tensions on the international front, domestically, China also faced a number of challenges for its economic recovery in the post-pandemic era with the deepseated contradictions accumulated over the years emerging more rapidly. Despite such complex situations at home and abroad, the Chinese economy demonstrated its resilience and maintained a stable and positive trend. Along with the accelerated development of the digital economy, the application scenarios for integration of the digital economy and real economy continued to expand. The new quality productive forces represented by large AI models and Web3 have opened up new opportunities for technological innovation and industrial upgrade.

In the past year, the business operations of Million Stars were also in the stage of a resilient recovery, where we planned for the new directions of development while consolidating the existing businesses. The operating results grew steadily, with a revenue of HK\$124.5 million, representing an increase of 77.9% as compared to that of last year. We managed to turn around the operating loss and at the same time strengthened the corporate governance so as to enhance the quality and efficiency and foster high-quality development of the operations.

During the year, we commenced to develop the business presence in the Web3 arena and made significant investment in the research and development of Web3 products and the development of Web3-related infrastructure. We have accordingly made deployment for the Web3 media in Hong Kong, the cloud computing platforms in North America, the blockchain hardware wallet system, the stock exchanges in Canada as well as technologies and services relating to digital assets. This strategic planning has laid a key foundation for the coming rapid development of the Group. Looking ahead, the Group will press on with the expansion of its presence in the Web3 arena including the development of blockchain technologies, metaverse and AI among others.

各位股東、投資者與合作夥伴:

回顧2023年,從國際看,全球經濟復蘇乏力, 地緣政治局勢緊張;從國內看,後疫情的中國 經濟恢復面臨諸多挑戰,長期積累的深層次矛 盾加速顯現。面對複雜的國內外形勢,中國經 濟展現出韌性,並保持穩中向好的態勢。數字 經濟加速發展,數實融合的應用場景不斷擴 展。以AI大模型和Web3為代表的新質生產力 激發出全新的技術創新和產業升級機遇。

在過去的一年裏,萬星控股的業務經營也處於 韌性恢復階段,在穩固原有業務的同時謀劃新 的發展方向。經營業績穩定增長,營收124.5 百萬港元,比去年增加77.9%。經營虧損得以 扭轉,同時強化企業治理,謀求經營上的提質 增效和高質量發展。

於本年度,我們開始進行Web3領域的業務佈 局,大力投入Web3產品的研發及Web3相關 基礎設施的建設。佈局香港Web3媒體、北美 雲算力平台、區塊鏈硬體錢包系統、加拿大交 易所以及數字資產技術服務。這一戰略規劃為 本集團下一步的快速發展奠定了關鍵基礎。未 來集團將不斷開拓Web3領域的佈局,包括區 塊鏈技術、元宇宙和AI開發等。

CHAIRMAN'S STATEMENT 主席報告

We are full of confidence and expectations for the future. Pursuing the same goal with ongoing strong conviction, unanimity and team spirit, the Board, the management and all employees of the Group will forge ahead and relentlessly strive for the best interests of each of our shareholders.

I would like to take this opportunity to express my gratitude to the Board, the management and all employees of the Group for their dedication to the Group in the past year. Besides, I would like to extend my heartfelt thanks to all shareholders and partners of the Company for their interest and confidence in the Group.

我們對未來充滿信心和期待。本集團董事會、 管理層及全體員工目標一致,我們會繼續以堅 定的信念和高度團結的精神,不懈努力,邁步 向前,為每一位股東爭取最佳的利益。

本人謹借此機會,感謝本集團董事會、管理層 及全體員工過去一年為本集團所付出的努力, 並向本公司所有股東及合作夥伴對本集團的 關注及信心致以最衷心的謝意!

Chairman Zeng Jin

26 September 2024

主席 曾金

二零二四年九月二十六日

INTRODUCTION

The Group is principally engaged in internet advertising services and the build-up and operation of a digitalization empowerment platform.

BUSINESS REVIEW

The Group and its subsidiaries are principally engaged in internet advertising services and the build-up and operation of a digitalization empowerment platform. In the past year, the Group has continued to optimize its precise marketing system of internet advertising, with the application of AI to achieve a higher conversion rate for internet advertising. Meanwhile, the Group has also placed much emphasis on the application of new Web3 technology in order to improve the interactive and entertainment functions of its products and enhance customer loyalty. In addition, the Group has been upgrading its internet advertising business to improve the differentiated positioning and core competitiveness of its platform.

Internet Advertising Services

Through its own platform and global mainstream online platforms, including Facebook and Google, the Group provides customers with global advertising placement services, including the provision of game promotion, big data support, integrated marketing solutions and other services for its customers.

By the end of June 2024, the internet advertising services business achieved operating income of approximately HK\$124.3 million.

Digitalization Empowerment Platform

On the basis of the internet advertising business, the Group timely launched the digitalization empowerment system and introduced the "Offline Credit Machine" (線下貸櫃機) that integrates sales and inventory, product supply chain, interactive marketing and advertising. Although the product is still in the stage of market exploration and application, it will continue to apply blockchain and Web3 technologies to combine interactive marketing online and offline with customers, thereby forming an online-offline interactive marketing machine that is safe, fair, impartial and filled with fun.

簡介

本集團主要從事互聯網廣告服務及數字化產 業賦能平台的建設與運營。

業務回顧

本集團及附屬公司主要從事互聯網廣告服務 及數字化產業賦能平台的建設與運營。本集團 在近一年內持續完善互聯網廣告的精準行銷 系統,而AI的應用讓互聯網廣告的轉化率更 高。同時也在著重應用Web3新技術,提升產 品的互動和娛樂功能、增強客戶黏性、本集團 在互聯網廣告業務,不斷的升級,完善平台的 差異化定位和核心競爭力。

互聯網廣告服務

本 集 團 通 過 自 主 平 台 及 全 球 主 流 網 絡 平 台 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、整合營銷方案等服務。

截至二零二四年六月底,互聯網廣告服務業務 實現營業收入約124.3百萬港元。

數字化產業賦能平台

在互聯網廣告業務基礎上,本集團適時推出數 字化產業賦能系統,推出集進銷存、產品供應 鏈、營銷互動、廣告等於一體的線下貸櫃機, 該產品在市場探索應用階段,將持續應用區塊 鏈Web3技術,將線上線下都可與客戶互動行 銷的方式進行結合,完成一個線上線下的安 全、公平公正、有趣的互動行銷機器。

OUTLOOK

The Group's internet advertising business and digitalization businesses will continue to develop steadily. The Group will implement its preliminary strategy for deployment of the Web3 media in Hong Kong, the cloud computing platforms in North America, the blockchain hardware wallet system, the stock exchanges in Canada as well as technologies and services relating to digital assets. Besides, the Group will press on with the expansion of its presence in the Web3 arena, including the development of blockchain technologies, metaverse and AI, with a focus on pathing ways for future business growth through the new Web3 model. In the near term, the Group will take the development of the Web3 E-commerce SAAS System as its main focus, aiming to become a leading Web3 e-commerce service provider.

FINANCIAL REVIEW

Revenue

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

The Group has recorded a revenue of approx imatel y HK\$124.5 million for the year ended 30 June 2024, representing an increase of approximately 77.9% as compared with about HK\$70 million for the year ended 30 June 2023.

Revenue generated from the internet advertising services business segment was approximately HK\$124.34 million, representing an increase of approximately 218.5% as compared to that of last year. The increase in revenue was mainly attributable to the repositioning of the Group's strategic decisions based on the existing marketing budgets of advertisers, which led to regaining of certain lost customers, as well as the increase in investment of the mobile game business.

展望

本集團互聯網廣告業務和數字化產業業務將 繼續穩步發展。本集團將展開初步戰略,佈局 香港Web3媒體、北美雲算力平台、區塊鏈硬 體錢包系統、加拿大交易所以及數字資產技術 服務。本集團將不斷開拓Web3領域佈局,包 括區塊鏈技術、元宇宙和人工智慧開發等,著 重佈局未來Web3新模式的業務增長,在近期 將重點打造Web3電商SAAS系統,成為領先的 Web3電商服務商!

財務回顧

收入

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

截至二零二四年六月三十日止年度,本集團錄 得收入約124.5百萬港元,較截至二零二三年 六 月 三 十 日 止 年 度 約 70 百 萬 港 元 增 加 約 77.9%。

互 聯 網 廣 告 服 務 業 務 分 部 產 生 的 收 入 約 為 124.34百萬港元,較去年上升約218.5%。收 入增加主要由於本集團基於廣告商的現有營 銷預算重新制訂戰略決策,奪回部分失去的客 戶,並增加投放手遊業務所致。

Cost of Sales and Gross Loss

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

The Group's cost of sales amounted to approximately HK\$136.9 million for the year ended 30 June 2024. Cost of sales increased by approximately 89.4% as compared with the cost of sales for the year ended 30 June 2023.

Gross loss margin for the year ended 30 June 2024 was approximately 9.9%, which was 6.6% higher than the gross loss margin of approximately 3.3% for the year ended 30 June 2023. This was mainly due to the Group's investment in mobile game business in addition to the internet advertising business, representing an increase in initial investment costs.

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 income of approximately HK\$39.1 million for the year ended 30 June 2024 compared to net losses of approximately HK\$7.2 million for the year ended 30 June 2023. The annual gains were mainly derived from the reversal of the impairment loss provided on the internet advertising business in the early stage in the current year.

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 2024 were approximately HK\$1.1 million and HK\$0.9 million respectively. The decrease in selling and distribution expenses was mainly due to the decrease in the digitalization empowerment platform business in the later stage.

銷售成本及毛損

銷售成本主要指年內提供互聯網廣告服務及 數字化產業賦能平台業務產生之成本。

本集團截至二零二四年六月三十日止年度的 銷售成本約為136.9百萬港元。銷售成本較截 至二零二三年六月三十日止年度的銷售成本 上升約89.4%。

截至二零二四年六月三十日止年度的毛損率 約為9.9%,較截至二零二三年六月三十日止 年度的毛損率約3.3%高6.6%,主要由於集團 在互聯網廣告業務中又新增投放手遊業務,初 期投放成本增加所致。

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。

截至二零二四年六月三十日止年度,其他收 入、收益及虧損淨額為淨收入約39.1百萬港 元,而截至二零二三年六月三十日止年度則為 淨虧損約7.2百萬港元。年度盈利主要來自於 前期互聯網廣告業務計提的減值虧損撥備於 本年度撥回。

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。截至二零二三年及二零二四年六月三十日 止年度的銷售及分銷開支分別為約1.1百萬港 元及0.9百萬港元。銷售及分銷開支減少乃主 要由於數字化產業賦能平台業務後期減少所致。

Administrative Expenses

Administrative expenses comprise mainly payroll expenses, rent, depreciation, operating expenses and other office administrative expenses. Administrative expenses were approximately HK\$8.1 million for the year ended 30 June 2024, while amounted to approximately HK\$17.8 million for the year ended 30 June 2023, representing a decrease of approximately 54.5%.

The lower administrative expenses for the year ended 30 June 2024 were recorded mainly due to reduction in depreciation charge and staff costs.

Finance Costs

Finance costs decreased to HK\$1.3 million during the year ended 30 June 2024 from HK\$1.7 million during the year ended 30 June 2023, primarily due to the decrease in interest expenses paid to shareholders and directors.

Income Tax Credit

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.

Profit/loss for the Year

The Group recorded a profit of approximately HK\$17.5 million and a loss of HK\$30.0 million for the year ended 30 June 2024 and 2023 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 2024, included in net current assets were cash and bank balances (including pledged bank deposits and restricted bank deposits) totalling approximately HK\$4.2 million (30 June 2023: HK\$30.7 million), the decrease in which was mainly attributable to the fact that the pledged bank deposits were used for payment to suppliers and certain prepayments to suppliers during the year.

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 截至二零二四年六月三十日止年度約8.1百萬 港元,而截至二零二三年六月三十日止年度約 17.8百萬港元,跌幅約為54.5%。

截至二零二四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

財務成本由截至二零二三年六月三十日止年 度的1.7百萬港元減少至截至二零二四年六月 三十日止年度的1.3百萬港元,主要由於支付 予股東及董事的利息開支減少所致。

所得稅抵免

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。

年內溢利╱虧損

本集團截至二零二四年及二零二三年六月三十 日止年度分別錄得溢利約17.5百萬港元及虧 損30.0百萬港元。

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。於二零二四年六月三十日,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 4.2百萬港元(二零二三年六月三十日:30.7百 萬港元),有關減少乃主要由於年內已抵押銀 行存款用於支付供應商及預付部分供應商款 項所致。

The Group's outstanding borrowings as at 30 June 2024 amounting to HK\$1.9 million (30 June 2023: HK\$4.7 million) were principally denominated in HK\$ (2023: HK\$ 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 3.1% as at 30 June 2024 (30 June 2023: 34.7%).

Property, Plant and Equipment

The Group has recorded property, plant and equipment of approximately HK\$0.01 million as at 30 June 2024, representing a decrease of approximately HK\$2.39 million, as compared with about HK\$2.4 million as at 30 June 2023. The decrease of property, plant and equipment by HK\$2.39 million was mainly due to the depreciation charge for the year and the disposal of subsidiaries during the year.

Trade Receivables

The Group's trade receivables were HK\$5.7 million as at 30 June 2024 (30 June 2023: HK\$35.4 million). The decrease in trade receivables for the year was mainly due to the active negotiation for the settlement of internet advertising services revenue receivables during the year.

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.

於二零二四年六月三十日,本集團的尚未償還 借貸1.9百萬港元(二零二三年六月三十日:4.7 百萬港元)主要以港元(二零二三年: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。

於二零二四年六月三十日,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 3.1%(二零二三年六月三十日:34.7%)。

物業、廠房及設備

於二零二四年六月三十日,本集團錄得物業、 廠房及設備約0.01百萬港元,較於二零二三年 六月三十日約2.4百萬港元減少約2.39百萬港 元。物業、廠房及設備減少2.39百萬港元乃主 要由於本年度折舊費用及年內出售附屬公司 所致。

貿易應收款項

於二零二四年六月三十日,本集團的貿易應收 款項為5.7百萬港元(二零二三年六月三十日: 35.4百萬港元)。本年度貿易應收款項減少主 要由於年內積極磋商結算應收互聯網廣告服 務收入所致。

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。

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 2024, there is no pledged bank deposits of the Group to support the Group's banking facilities (30 June 2023: HK\$25,882,000).

Capital Commitments

As at 30 June 2024, the Group did not have any significant capital commitment (30 June 2023: Nil).

Contingent Liabilities

As at 30 June 2024, the Group did not have any significant contingent liability (30 June 2023: Nil).

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 2024, 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 2024.

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

於二零二四年六月三十日,本集團概無已抵押 銀行存款擔保本集團之銀行融資(二零二三年 六月三十日:25,882,000港元)。

資本承擔

於二零二四年六月三十日,本集團並無任何重 大資本承擔(二零二三年六月三十日:無)。

或然負債

於二零二四年六月三十日,本集團並無任何重 大或然負債(二零二三年六月三十日:無)。

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

於截至二零二四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,於二零二四年六月三十 日後並無發生任何重大事項。

EMPLOYEES AND REMUNERATION POLICY

As at 30 June 2024, the Group had a workforce of 14 employees (2023: 22). Total staff costs for the year ended 30 June 2024 were approximately HK\$2 million, as compared to total staff costs of HK\$5 million for the year ended 30 June 2023.

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.

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.

僱員及薪酬政策

於 二 零 二 四 年 六 月 三 十 日,本 集 團 有 14 名 (二零二三年:22名)僱員。截至二零二四年 六月三十日止年度之總員工成本約為2百萬港 元,而截至二零二三年六月三十日止年度之總 員工成本為5百萬港元。

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。

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

Zeng Jin

Executive Director

Mr. Zeng Jin ("Mr. Zeng"), aged 50, has been appointed as an executive Director of the Company on 4 June 2024. He has also been appointed as the Chairman of the Board of the Company on 4 June 2024. He obtained his double bachelor's degrees in polymer science and computer software from East China University of Science and Technology ( 華 東 理 工 大 學 ) in Shanghai, China in July 1997 and master's degree in business administration from Donghua University (東華大學) in Shanghai, China in June 2008. He served as a department manager, assistant to the general manager, deputy general manager, senior vice president, and secretary to the board in Krone Communications (Shanghai) Co., Ltd. (科龍通訊系統(上海)有限公司), Shanghai Trayton Furniture Co., Ltd. (上海特雷通傢俱有限公司), Morris Group Co., Ltd. (慕容集團有限公司), and China Floors Lumber (China) Co., Ltd. (財納福諾木業(中國)有限公司).

He has extensive experience in corporate operation and management. From March 2016 to June 2021, he served as an executive director of Morris Holdings Limited and was appointed as a senior vice president and the head of production and quality management. He currently serves as the deputy general manager of Shanghai Xinzhen International Trade Co., Ltd.* (上海鑫珍國 際貿易有限公司).

執行董事

曾金

執行董事

曾金先生(「曾先生」),50歲,於二零二四年 六月四日獲委任為本公司之執行董事。彼亦於 二零二四年六月四日獲委任為本公司之董事 會主席。彼曾分別於一九九七年七月及二零零 八年六月獲得位於中國上海的華東理工大學 高分子科學與計算機軟件專業的雙學位及位 於中國上海的東華大學工商管理碩士學位。彼 先後在科龍通訊系統(上海)有限公司、上海 特雷通傢俱有限公司、慕容集團有限公司、財 納福諾木業(中國)有限公司擔任過部門經理、 總經理助理、副總、高級副總裁、董事會秘書 等崗位。

彼有豐富的公司運營與管理經驗。在二零一六 年三月到二零二一年六月期間曾是慕容控股 有限公司的執行董事,並委聘為高級副總裁及 生產與質量管理主管,目前就職於上海鑫珍國 際貿易有限公司,擔任副總經理。

^* For identification only * 僅供識別

EXECUTIVE DIRECTORS (continued)

Gan Xiaohua

Executive Director

Mr. Gan Xiaohua ("Mr. Gan"), aged 51, 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 and ceased the same on 4 June 2024. 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

執行董事

甘曉華先生(「甘先生」),51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,並於二零二四年六月四日不再擔任該 職務。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

Executive Director

Ms. Tian Yuan ("Ms. Tian"), aged 49, 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 and ceased the same on 4 June 2024. 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

執行董事

田園女士(「田女士」),49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,並於二零二四年六月四日不再擔任該職 務。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。

EXECUTIVE DIRECTORS (continued)

Liu Qin

Executive Director

Ms. Liu Qin ("Ms. Liu"), aged 45, has been appointed as an executive Director of the Company with effect from 4 June 2024. She graduated from the School of Law, Tsinghua University in 2009 with a master's degree and passed the National Judicial Examination with a lawyer's license. She worked at Jingtian & Gongcheng in Beijing, Ping An Securities and China Merchants Securities, and is currently a partner of Guangdong Jinxian Law Firm* (廣東進賢律師事務所). She is skilled and experienced with over 20 years of engagement in businesses related to the capital market, including non-performing assets disposal, negotiation, settlement, debt disputes, debt risk isolation, company law, investment and financing services, and provision of long-term legal advice to enterprises.

* For identification only

INDEPENDENT NON-EXECUTIVE DIRECTORS

Chen Ce

Independent Non-executive Director

Mr. Chen Ce ("Mr. Chen"), aged 38, 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.

執行董事(續)

劉芹

執行董事

劉芹女士(「劉女士」),45歲,於二零二四年 六月四日獲委任為本公司之執行董事。彼於二 零零九年畢業於清華大學法學院,獲碩士學 位,並通過國家統一司法考試,取得律師執業 證。彼曾先後就職於北京競天公誠律師事務 所、平安證券、招商證券,現任廣東進賢律師 事務所合夥人。具備二十多年與資本市場相關 的不良資產處理、談判、和解、債務糾紛、債 務風險隔離、公司法、投融資服務、企業常年 法律顧問等業務,操作熟練,經驗豐富。

* 僅供識別

獨立非執行董事

陳策

獨立非執行董事

陳策先生(「陳先生」),38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)

Jiang Ying

Independent Non-executive Director

Ms. Jiang Ying ("Ms. Jiang"), aged 36, 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」),36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。

INDEPENDENT NON-EXECUTIVE DIRECTORS (continued)

Lam, Anthony Tze Cheung

Independent Non-Executive Director

Mr. Lam, Anthony Tze Cheung ("Mr. Lam"), aged 36, has been appointed as an independent non-executive Director of the Company on 11 January 2024. He is now serving as the chairman of remuneration committee and nomination committee, and a member of audit committee and corporate governance committee of the Company.

Mr. Lam graduated from King's College London with a Bachelor of Laws degree. He was admitted to the New York State bar in March 2017. He worked as a registered foreign lawyer at Eversheds Sutherland and a legal associate at Nu Skin Enterprises Hong Kong, LLC. Mr. Lam is currently the legal counsel of CFL Holding Limited.

獨立非執行董事(續)

林子翔

獨立非執行董事

林子翔先生(「林先生」),36歲,於二零二四 年一月十一日獲委任為本公司獨立非執行董 事。彼現為本公司薪酬委員會及提名委員會主 席以及審核委員會及企業管治委員會成員。

林先生畢業於倫敦國王學院,獲法學學士學 位。彼於二零一七年三月獲紐約州律師資格。 彼擔任安睿順德倫律師事務所之註冊外國律 師以及美國如新企業香港分公司之法務助理。 林先生現時擔任CFL Holding Limited之法律顧 問。

The Directors are pleased to present their report and the audited consolidated financial statements of the Group for the year ended 30 June 2024.

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 37 to the consolidated financial statements.

CHANGE OF COMPANY NAME

Pursuant to a special resolution passed at an extraordinary general meeting held on 10 September 2024 and the issue of the Certificate of Incorporation on Change of Name issued by the Registrar of companies in the Cayman Islands on 12 September 2024, the English name of the Company has been changed from "Million Stars Holdings Limited" to "Web3 Meta Limited" and the dual foreign name of the Company in Chinese had been changed from "萬星控股有限公司" to "瓦普思瑞元宇宙有限公司" with effect from 12 September 2024.

RESULTS AND DIVIDEND

The results of the Group for the year ended 30 June 2024 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 2024 (2023: Nil).

BUSINESS REVIEW

A review of the business of the Group during the year ended 30 June 2024 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 2024 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 2024 is set out on page 60 to page 95.

董事欣然提呈其報告及本集團截至二零二四 年六月三十日止年度之經審核綜合財務報表。

董事報告

REPORT OF THE DIRECTORS

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37。

更改公司名稱

根據於二零二四年九月十日舉行之股東特別 大會上通過的特別決議案及開曼群島公司註 冊處處長於二零二四年九月十二日發出之更 改名稱註冊證書,本公司之英文名稱由「Million Stars Holdings Limited」更改為「Web3 Meta Limited」及本公司之中文雙重外文名稱由「萬 星控股有限公司」更改為「瓦普思瑞元宇宙有 限公司」,自二零二四年九月十二日起生效。

業績與股息

本集團於截至二零二四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二零二四年六月三十 日止年度之任何股息(二零二三年:無)。

業務回顧

於截至二零二四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 進行的本集團截至二零二四年六月三十日止 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60至95頁的截至二 零二四年六月三十日止年度的環境、社會及管 治報告。

RESERVES

Details of movements in the reserves of the Company and of the Group during the year are set out in note 32 to the consolidated financial statements and the consolidated statement of changes in equity on page 107 respectively.

DISTRIBUTABLE RESERVES

Under the Companies Law of the Cayman Islands, as at 30 June 2024, 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 2024 are set out in note 32 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 2024 are set out in note 15 to the consolidated financial statements.

MAJOR CUSTOMERS AND SUPPLIERS

During the year ended 30 June 2024, sales to the Group's five largest customers accounted for 97.6% of the Group's total sales for the year and sales to the largest customer included therein amounted to 45.9%.

During the year ended 30 June 2024, purchases from the Group's five largest suppliers accounted for 96.5% of the Group's total purchases for the year and purchases from the Group's largest supplier included therein amounted to 43.8%.

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 36 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.

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32及第107頁綜 合權益變動表。

可分派儲備

根據開曼群島公司法,於二零二四年六月三十 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。

本公司於截至二零二四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32。

物業、廠房及設備

本集團於截至二零二四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

於截至二零二四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 97.6%,其中最大客戶的銷售額佔45.9%。

於截至二零二四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96.5%,其中從本集團最大供應商之採 購額佔43.8%。

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36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 2024 (2023: 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. ZENG Jin (appointed on 4 June 2024) Mr. GAN Xiaohua Ms. TIAN Yuan Ms. LIU Qin (appointed on 4 June 2024) Mr. ZHU Yongjun (retired on 16 November 2023)

Independent Non-executive Directors:

Mr. CHEN Ce Ms. JIANG Ying Mr. LAM, Anthony Tze Cheung (appointed on 11 January 2024) Ms. ZHU Minli (resigned on 11 January 2024)

During the year ended 30 June 2024, the directorship of the Company has the following changes:

• a. Mr. Zhu Yongjun retired as an executive Director of the Company with effective from 16 November 2023.
• b. Ms. Zhu Minli has resigned as an independent non-executive director of the Company with effect from 11 January 2024.
• c. Mr. Lam, Anthony Tze Cheung has been appointed as an independent non-executive director of the Company with effect from 11 January 2024.
• d. Mr. Zeng Jin and Ms. Liu Qin have been appointed as the executive directors of the Company with effect from 4 June 2024.
• e. Mr. Zeng Jin has been appointed as the Chairman of the Board of the Company and Mr. Gan Xiaohua and Ms. Tian Yuan have ceased to be the co-chairman of the Board of the Company with effect from 4 June 2024.

Pursuant to the Company's articles of association (the "Articles of Association"), Mr. Zeng Jin, Mr. Gan Xiaohua, Ms. Tian Yuan, Ms. Liu Qin, Ms. Jiang Ying and Mr. Lam, Anthony Tze Cheung 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.

捐款

本集團於截至二零二四年六月三十日止年度 並無作出慈善捐款(二零二三年: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:

曾金先生(於二零二四年六月四日獲委任) 甘曉華先生 田園女士 劉芹女士(於二零二四年六月四日獲委任) 朱勇軍先生(於二零二三年十一月十六日退任)

獨立非執行董事:

陳策先生 江穎女士 林子翔先生(於二零二四年一月十一日獲委任) 朱敏麗女士(於二零二四年一月十一日辭任)

於截至二零二四年六月三十日止年度,本公司 董事的變動如下:

• a. 朱勇軍先生退任本公司執行董事,自二 零二三年十一月十六日起生效。
• b. 朱敏麗女士已辭任本公司獨立非執行董 事,自二零二四年一月十一日起生效。
• c. 林子翔先生已獲委任為本公司獨立非執 行董事,自二零二四年一月十一日起生效。
• d. 曾金先生及劉芹女士已獲委任為本公司 執行董事,自二零二四年六月四日起生效。
• e. 曾金先生已獲委任為本公司董事會主席, 而甘曉華先生及田園女士不再擔任本公 司董事會聯席主席,自二零二四年六月 四日起生效。

根 據 本 公 司 之 組 織 章 程 細 則(「組 織 章 程 細 則」),曾金先生、甘曉華先生、田園女士、劉 芹女士、江穎女士及林子翔先生將於應屆股東 週年大會上從董事會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。

DIRECTORS' SERVICE CONTRACTS

As at 30 June 2024, 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.

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

During the year ended 30 June 2024, 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 among Mr. Xie Ming* (謝明先生) and Mr. Zhang Jingping* (張京平先生) on 15 November 2023 and the subscription agreement entered into with Web3 Group Limited (瓦普思瑞集團股份有限公司) on 11 March 2024, no equity-linked agreement was entered into by the Company during the financial year or subsisted at the end of the financial year.

董事服務合約

於二零二四年六月三十日,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。

購買、出售或贖回本公司上市證券

本公司及其任何附屬公司於截至二零二四年 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、謝明先生與張京平先生於二零 二三年十一月十五日簽訂的認購協議及於二 零二四年三月十一日與瓦普思瑞集團股份有 限公司簽訂的認購協議外,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。

ISSUE OF NEW SHARES

Subscription agreements dated 15 November 2023

As disclosed in the announcement of the Company dated 15 November 2023, the Company entered into the subscription agreements dated 15 November 2023 in relation to the subscription of an aggregate of 77,600,000 ordinary shares of HK\$0.12 per share by Mr. Xie Ming* (謝明先生) and Mr. Zhang Jingping* (張京平先生), which is to be the best knowledge information and belief of the Directors having made all reasonable enquiries, each of the subscribers was independent third parties of the Company and its connected persons (as defined under Listing Rules) as at the date of the announcement.

The total subscription price of HK\$9,312,000 was paid by the subscribers in cash at the completion of the subscriptions. The aggregate nominal value of the subscription shares is HK\$776,000.

The fund raised by the subscriptions on the issue of shares was HK\$9,112,000 and the premium on the issue of shares amounted to approximately HK\$8,536,000 and credited to the Company share premium account. The subscriptions were completed on 29 December 2023 and the Company issued and allotted 77,600,000 shares on 29 December 2023.

The Directors consider that the subscriptions represent 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.

發行新股份

日期為二零二三年十一月十五日之認購協議

誠如本公司日期為二零二三年十一月十五日 之公告所披露,本公司訂立日期為二零二三年 十一月十五日之認購協議,內容有關謝明先生 及 張 京 平 先 生 以 每 股 0.12 港 元 認 購 合 共 77,600,000股普通股,據董事經作出一切合理 查詢後所深知、全悉及確信,於該公告日期, 認購人各自為本公司及其關連人士(定義見上 市規則)之獨立第三方。

於完成認購事項時,認購人以現金支付總認購 價9,312,000港元。認購股份總面值為776,000 港元。

有 關 發 行 股 份 的 認 購 事 項 所 籌 集 的 資 金 為 9 , 1 1 2 , 0 0 0 港 元,而 發 行 股 份 溢 價 為 約 8,536,000港元及計入本公司股份溢價賬。認 購事項於二零二三年十二月二十九日完成,而 本公司於二零二三年十二月二十九日發行及 配發77,600,000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。

* For identification only * 僅供識別

Subscription agreement dated 11 March 2024

As disclosed in the announcement of the Company dated 11 March 2024, the Company entered into the subscription agreement dated 11 March 2024 in relation to the subscription of 101,600,000 ordinary shares of HK\$0.125 per share by Web3 Group Limited (瓦普思瑞集團股份有限公司), which is to be the best knowledge information and belief of the Directors having made all reasonable enquiries, the subscriber and its ultimate beneficial owners were independent third parties of the Company and its connected persons (as defined under Listing Rules) as at the date of the announcement.

The total subscription price of HK\$12,700,000 was paid by the subscriber in cash at the completion of the subscription. The aggregate nominal value of the subscription shares is HK\$1,016,000.

The fund raised by the subscriptions on the issue of shares was HK\$12,600,000 and the premium on the issue of shares amounted to approximately HK\$11,684,000 and credited to the Company share premium account. The subscriptions were completed on 28 March 2024 and the Company issued and allotted 101,600,000 shares on 28 March 2024.

The Directors consider that the subscription 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 subscription 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 Agreement (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.

Use of Proceeds

For the subscription agreements dated 15 November 2023, the gross proceeds and net proceeds from the issue of the shares are estimated to be HK\$9,312,000 and approximately HK\$9,112,000 respectively. The Company intends to use the net proceeds (i) for future business development and (ii) for repayment of borrowings and for general working capital of the Group. The net price of each share is approximately HK\$0.117.

日期為二零二四年三月十一日之認購協議

誠如本公司日期為二零二四年三月十一日之 公告所披露,本公司訂立日期為二零二四年三 月十一日之認購協議,內容有關瓦普思瑞集團 股 份 有 限 公 司 以 每 股 0 . 1 2 5 港 元 認 購 101,600,000股普通股,據董事經作出一切合 理查詢後所深知、全悉及確信,於該公告日 期,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。

於完成認購事項時,認購人以現金支付總認購 價 12,700,000 港 元。認 購 股 份 總 面 值 為 1,016,000港元。

有 關 發 行 股 份 的 認 購 事 項 所 籌 集 的 資 金 為 12,600,000 港 元,而 發 行 股 份 溢 價 為 約 11,684,000港元及計入本公司股份溢價賬。認 購事項於二零二四年三月二十八日完成,而本 公司於二零二四年三月二十八日發行及配發 101,600,000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。

所得款項用途

就日期為二零二三年十一月十五日的認購協 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 9 , 3 1 2 , 0 0 0 港 元 及 約 9,112,000港元。本公司擬將所得款項淨額(i) 用於未來業務發展及(ii)用於償還借貸以及用 作本集團之一般營運資金。每股股份之淨價約 為0.117港元。

For the subscription agreements dated 11 March 2024, the gross proceeds and net proceeds from the issue of the shares are e stima t ed to be HK\$12,700,000 and approx ima t e l y HK\$12,600,000 respectively. The Company intends to use the net proceeds (i) for future business development and (ii) for repayment of borrowings and for general working capital of the Group. The net price of each share is approximately HK\$0.124.

就日期為二零二四年三月十一日的認購協議 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 1 2 , 7 0 0 , 0 0 0 港 元 及 約 12,600,000港元。本公司擬將所得款項淨額(i) 用於未來業務發展及(ii)用於償還借貸以及用 作本集團之一般營運資金。每股股份之淨價約 為0.124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 net proceeds 所得款項 淨額分配 HK\$'000 千港元	Amount utilized as at 30 June 2024 於二零二四年 六月三十日 已動用金額 HK\$'000 千港元	Remaining balance of net proceeds as at 30 June 2024 於二零二四年 六月三十日 所得款項 淨額結餘 HK\$'000 千港元
Issue of 77,600,000 shares on 29 December 2023 Future business development, including but not limited to data centre and other potential business development	於二零二三年十二月二十九日 發行77,600,000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	3,645	3,645	0
Repayment of borrowings and general working capital of the Group	償還借款及本集團之 一般營運資金	5,467	5,467	0
Issue of 101,600,000 shares on 28 March 2024	於二零二四年三月二十八日 發行101,600,000股股份 償還若干借款及一般營運資金
Repayment of certain borrowings and general working capital Business development on internet advertising services and digitalization	有關互聯網廣告服務及 數字化產業賦能平台之	6,300	2,200	4,100
empowerment platform	業務發展	6,300	6,300	0

PERMITTED INDEMNITY PROVISION

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.

獲准許的彌償條文

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 33 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 the year ended 30 June 2024 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33。

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

本集團於截至二零二四年六月三十日止年度 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 2024, 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

於二零二四年六月三十日,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	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
董事姓名	身份	於股份之權益	概約百分比
Mr. Gan Xiaohua 甘曉華先生	Beneficial owner 實益擁有人	8,005,000 (L)	1.16%
Notes:		附註:
As at 30 June 2024, the Company had 687,200,000 Shares in issue.		於二零二四年六月三十日,本公司有687,200,000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 2024, 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

於二零二四年六月三十日,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 2024 佔本公司於 二零二四年 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
ZHU Yongjun 朱勇軍	Beneficial owner 實益擁有人	38,398,786 (L)	5.59%
7Road Holdings Limited 第七大道控股有限公司	Beneficial owner 實益擁有人	54,000,000 (L)	7.86%
Xie Ming 謝明	Beneficial owner 實益擁有人	56,750,000 (L)	8.26%
United Conquer Limited ("UCL")	Beneficial owner 實益擁有人	22,497,169 (L)	3.27%	2
Shanghai Hutong Investments Centre (Limited Partnership)* ("SHIC")	Beneficial owner 實益擁有人	50,000,000 (L)	7.26%	2
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)	3.27%	2
BOC-HFT-BOC-Overseas No.1 QDII Segregated Account ("BOC Account") 海富通 — 中國銀行海外1號QDII	Investment manager 投資經理	50,000,000 (L)	7.26%	3
資產管理計劃(「中銀管理計劃」) Shanghai Angell Asset Management	Interest of controlled corporation	72,497,169 (L)	10.55%	4
Company Limited* ("Shanghai Angell") 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 Company Limited * 吉林省投資集團有限公司	Interest of controlled corporation 受控法團權益	72,497,169 (L)	10.55%	5
Yao Ligang 姚立剛	Interest of controlled corporation 受控法團權益	72,497,169 (L)	10.55%	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)

附註: 1. 於二零二四年六月三十日,本公司有687,200,000股 已發行股份。 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. 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. 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. 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. 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. 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. 上述沈國濤之視為股權乃透過其於Web3 Group Limited之28.57%股權持有。上述周明之視為股權 乃透過其於Web3 Group Limited之71.43%股權持有。 縮寫:「L」為好倉 Name of Shareholders Capacity Interests in Shares Approximate Percentage of Issued Share Capital of the Company as at 30 June 2024 Note 股東名稱 身份 於股份之權益 佔本公司於 二零二四年 六月三十日之 已發行股本的 概約百分比 附註 Wang Fei Beneficial owner 40,000,000 (L) 5.82% 王菲 實益擁有人 Jia Heng Tai Feng Co., Limited Beneficial owner 38,535,000 (L) 5.61% 嘉恒泰豐有限公司 實益擁有人 Wu Zhongyi Interest of controlled corporation 38,535,000 (L) 5.61% 7 鄔中一 受控法團權益 Web3 Group Limited Beneficial owner 101,600,000 (L) 14.78% 實益擁有人 Shen Guotao Interest of controlled corporation 101,600,000 (L) 14.78% 8 沈國濤 受控法團權益 Zhou Ming Interest of controlled corporation 101,600,000 (L) 14.78% 8 周明 受控法團權益 Notes: 1. As at 30 June 2024, the Company had 687,200,000 Shares in issue. 2. SHIC's deemed shareholdings stated above were held by virtue of its 100% shareholding interests in UCL. 3. BOC Account's deemed shareholdings stated above were held as a trustee of a discretionary trust of which SHIC was the founder. 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. 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. 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. 7. Mr. Wu Zhongyi provided an interest in the Shares as security to a person other than a qualified lender on 13 May 2022. 8. Shen Guotao's deemed shareholdings stated above were held by virtue of its 28.57% shareholding interests in Web3 Group Limited. Zhou Ming's deemed shareholdings stated above were held by virtue of its 71.43% shareholding interests on Web3 Group Limited. Abbreviation: "L" stands for long position

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 FY2024, 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

於二零二四財年,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 Limited (formerly known as 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 FY2024 have been audited by Prism.

On behalf of the Board

Zeng Jin Chairman and executive Director

Hong Kong 26 September 2024

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。栢淳 會計師事務所有限公司(前稱上會栢誠會計師 事務所有限公司)(「栢淳」)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。栢淳於二零二三年 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。

二零二四財年之綜合財務報表已由栢淳審核。

代表董事會

曾金 主席兼執行董事

香港 二零二四年九月二十六日

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 2024 as set out in Appendix 15 to the GEM Listing Rules.

During the year ended 30 June 2024, 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 截至二零二四年六月三十日止年度內有效之 企業管治守則的守則條文。

於截至二零二四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:

CORPORATE GOVERNANCE PRACTICES (continued)

企業管治常規(續)

	Code Provision 守則條文	Deviation 偏離情況	Considered Reason for Deviation 就偏離情況已闡明之原因
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	The management failed to provide the Directors with updated financial information of the Company each month. 管理層未能每月向董事提供本公司 的更新財務資料。	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.
	and each Director to discharge their duties under Rule 5.01 and Chapter 17 of the GEM Listing Rules.		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。
	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。
F.2.2	The Chairman should invite members of the audit, remuneration, nomination and any other committees (as appropriate) to attend the annual general meeting (the "AGM"). In their absence, he should invite another member	Due to other work commitments, the chairperson and members of the Audit Committee of the Company did not physically attend the AGM of the Company held on 16 November 2023 (the "2023 AGM").	In order to ensure an effective communication with the shareholders of the Company, other Board members (including the Chairman of the Board, executive Directors and independent non-executive Director) attended the 2023 AGM
	of the committee or failing this his/her duly appointed delegate, to attend. These persons should be available to answer questions at the AGM.	由於其他工作原因,本公司審核委 員會主席及成員並無親身出席二零 二三年十一月十六日舉行的本公司 股東週年大會(「二零二三年股東週 年大會」)。	to answer relevant questions from the shareholders of the Company present thereat. The external auditor of the Company also attended the 2023 AGM.
	主席應邀請審核委員會、薪 酬委員會、提名委員會及任 何其他委員會(視情況而定) 的成員出席股東週年大會(「股 東週年大會」)。倘彼等缺席, 則主席應邀請委員會的另一 名成員(或倘彼亦缺席,則邀 請其正式委任的代表)出席大 會。該等人員應能於股東週 年大會上回答問題。		為確保與本公司股東保持有效溝 通,其他董事會成員(包括董事會 主席、執行董事及獨立非執行董 事)已出席二零二三年股東週年大 會,以回答本公司與會股東的相 關問題。本公司外聘核數師亦已 出席二零二三年股東週年大會。

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 2024.

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,其於截至二零二四年六月 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 2024:

董事會(續)

出席會議

下表顯示各董事於截至二零二四年六月三十 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: 12) (總計:12次)	REMUNERATION COMMITTEE 薪酬委員會 (Total: 3) (總計:3次)	AUDIT COMMITTEE 審核委員會 (Total: 4) (總計:4次)	NOMINATION COMMITTEE 提名委員會 (Total: 3) (總計:3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. ZENG Jin (appointed on 4 June 2024)	N/A	N/A	N/A	N/A	N/A	N/A
曾金先生(於二零二四年六月四日獲委任)	不適用	不適用	不適用	不適用	不適用	不適用
Mr. GAN Xiaohua	10/12	N/A	N/A	N/A	N/A	1/1
甘曉華先生		不適用	不適用	不適用	不適用
Ms. TIAN Yuan 田園女士	12/12	N/A 不適用	N/A 不適用	N/A 不適用	N/A 不適用	1/1
Ms. LIU Qin (appointed on 4 June 2024)	N/A	N/A	N/A	N/A	N/A	N/A
劉芹女士(於二零二四年六月四日獲委任)	不適用	不適用	不適用	不適用	不適用	不適用
Mr. ZHU Yongjun (retired on 16 November 2023)	3/5	N/A	N/A	N/A	N/A	0/1
朱勇軍先生(於二零二三年十一月十六日退任)		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	12/12	3/3	4/4	3/3	1/1	1/1
Ms. JIANG Ying	12/12	3/3	4/4	3/3	1/1	1/1
江穎女士
Mr. LAM, Anthony Tze Cheung	6/6	1/1	1/1	1/1	N/A	N/A
(appointed on 11 January 2024)					不適用	不適用
林子翔先生(於二零二四年一月十一日獲委任)
Ms. ZHU Minli (resigned on 11 January 2024) 朱敏麗女士(於二零二四年一月十一日辭任)	6/6	2/2	3/3	2/2	1/1	1/1

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. ZENG Jin (appointed on 4 June 2024) Mr. GAN Xiaohua Ms. TIAN Yuan Ms. LIU Qin (appointed on 4 June 2024) Mr. ZHU Yongjun (retired on 16 November 2023)

Independent Non-Executive Directors:

Mr. CHEN Ce Ms. JIANG Ying Mr. LAM, Anthony Tze Cheung (appointed on 11 January 2024) Ms. ZHU Minli (resigned on 11 January 2024)

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:

曾金先生(於二零二四年六月四日獲委任) 甘曉華先生 田園女士 劉芹女士(於二零二四年六月四日獲委任) 朱勇軍先生(於二零二三年十一月十六日退任)

獨立非執行董事:

陳策先生 江穎女士 林子翔先生(於二零二四年一月十一日獲委任) 朱敏麗女士(於二零二四年一月十一日辭任)

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 2024, 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。

於截至二零二四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)

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。

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. 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. Mr. Zhu was retired as an executive Director of the Company on 16 November 2023.

Mr. Zeng Jin has been appointed as the Chairman of the Board of the Company with effect from 4 June 2024. Mr. Gan Xiaohua and Ms. Tian Yuan have ceased to be the co-chairman of the Board of the Company following the appointment of Mr. Zeng.

The position of chairman is currently held by Mr. Zeng Jin 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。

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。朱先生於二零 二三年十一月十六日退任本公司執行董事。

曾金先生獲委任為本公司董事會主席,自二零 二四年六月四日起生效。於曾先生獲委任後, 甘曉華先生及田園女士不再擔任本公司董事 會聯席主席。

主席職務目前由曾金先生擔任,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 董事委員會的相關職務及職責。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。

CORPORATE GOVERNANCE REPORT

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 括按指定任期獲委任之董事)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,並將 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。董事將可應合理要求,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會先後發送 予董事,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 造的入職培訓。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:	執行董事:
Mr. ZENG Jin (appointed on 4 June 2024)	曾金先生(於二零二四年六月四日獲委任)		1, 2	A, B
Mr. GAN Xiaohua	甘曉華先生		1, 2	A, B
Ms. TIAN Yuan	田園女士		1, 2	A, B
Ms. LIU Qin (appointed on 4 June 2024)	劉芹女士(於二零二四年六月四日獲委任)		1, 2	A, B
Mr. ZHU Yongjun (retired on 16 November 2023) 朱勇軍先生(於二零二三年十一月十六日退任)			1, 2	A, B
Independent Non-executive Directors:	獨立非執行董事:
Mr. CHEN Ce	陳策先生		1, 2	A, B
Ms. JIANG Ying	江穎女士		1, 2	A, B
Mr. LAM, Anthony Tze Cheung (appointed on 11 January 2024)	林子翔先生(於二零二四年一月十一日獲委任)		1, 2	A, B
Ms. ZHU Minli (resigned on 11 January 2024)	朱敏麗女士(於二零二四年一月十一日辭任)		1, 2	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 Mr. Lam, Anthony Tze Cheung. Mr. Chen Ce has 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, four Audit Committee meetings were held to review and consider the annual results for the year ended 30 June 2023, 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均為獨立非執行董事。 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)、江穎女士及林子翔先 生組成。陳策先生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,審核委員會已舉行四次會議,以審 閱及考慮截至二零二三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 Mr. Lam, Anthony Tze Cheung (Chairman 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, three meetings 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 Mr. Lam, Anthony Tze Cheung (Chairman 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, three meetings of the Nomination Committee were 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 名獨立非執行董事林子翔先生(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,薪酬委員會舉行三次會議。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林子翔 先生(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,提名委員會舉行三次會議。

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), Mr. Lam, Anthony Tze Cheung 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、規則及規例規定載於向股東發出 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)、林子翔先 生及江穎女士組成。

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 had a net cash used in operating activities of approximately HK\$54,730,000 for the year ended 30 June 2024 and had borrowings and loans from a shareholder, directors, a shareholder and director and an ultimate beneficial owner repayable on demand of approximately HK\$1,856,000, HK\$716,000, HK\$219,000, HK\$705,000 and HK\$4,508,000 respectively, while the Group had total bank balances and cash amounting to approximately HK\$4,146,000 as at 30 June 2024. 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 statements of the external auditors of the Group, Prism Hong Kong 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二零二四年六月三十 日 止 年 度 錄 得 經 營 活 動 所 用 之 現 金 淨 額 約 54,730,000港元及來自一名股東、董事、一名 股東及董事以及一名最終實益擁有人的借貸 及貸款(須按要求償還)分別約1,856,000港 元、716,000港元、219,000港元、705,000港 元及4,508,000港元,而本集團於二零二四年 六 月 三 十 日 擁 有 銀 行 結 餘 及 現 金 總 額 約 4,146,000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。

本集團之外聘核數師栢淳會計師事務所有限 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	–
REMUNERATION OF SENIOR	高級管理層之薪酬 MANAGEMENT

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 及評估本公司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 PAL Advisory Limited ("PAL Advisory") to perform internal control review on major business operations of the Group. PAL Advisory 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. PAL Advisory 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 PAL 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,董事會委聘上邦永晉諮詢有限 公司(上邦永晉諮詢」)對本集團主要業務營運 進行內部控制評核。上邦永晉諮詢評估內部監 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。上邦永晉諮詢已識別內 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,惟其已委聘上邦永晉諮詢有限公 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 人可按相同方式自行召開會議,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 Association 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 September 2024 and effective from 12 September 2024 to adopt the Third Amended and Restated Memorandum and Articles of Association.

Details of the amendments brought about by the adoption of the Third Amended and Restated Memorandum and Articles of Association are set out in the Company's circular dated 21 August 2024. The Third Amended and Restated Memorandum and Articles of Association 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 東於二零二四年九月十日通過一項特別決議 案,以採納第三份經修訂及重訂組織章程大綱 及細則,自二零二四年九月十二日起生效。

採納第三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二零二四年 八月二十一日的通函。第三份經修訂及重訂組 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 2023 to 30 June 2024 (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 C2 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二零二三年七月一日至 二零二四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C2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 No. 702, 7th Floor, Harbour Crystal Centre, 100 Granville Road, Tsim Sha Tsui, Kowloon, Hong Kong
• Tel: (852) 3589 6590
• Fax: (852) 3586 9060
• Email: info@millionstars.hk

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.

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

傳真:(852) 3586 9060

電郵:info@millionstars.hk

董事會的環境、社會及管治聲明

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、社會及管治聲明(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 合法合規 — 確保本集團的業務運作符合適用的法律法規 Ethics — Abide by the ethical standards of business integrity and establish the compliance culture 道德規範 — 恪守商業誠信道德標準,樹立合規的文化
Quality assurance • 品質保證 • • •	Product innovation — Proactively enhance the Group's creativity, and forge an optimized product customized service and management system 產品創新 — 積極提升企業創作能力,形成完善的產品定制化服務 和經營體系 Product quality — Ensure sound product quality to meet customers' requirements 產品質素 — 確保產品質素良好,符合客戶的要求
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 環境管理 — 定期監察各類環境參數,盡量減少相關的環境影響, 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 氣候變化策略 — 定期檢討本集團應對氣候變化的方針,並識別和 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 多元包容 — 尊重所有員工的勞工權利及人權,維持高道德標準, 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 安全工作 — 為員工提供充足支援、愉快及健康的工作環境
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 2023/24 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)

由於我們在二零二三╱二四的財政年度的業務 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)

持份者參與及重要性評估(續)

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.

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 Customer service	產品創新 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 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 has added the record of driving mileage in 2023/24, so the figures of nitrogen oxides and particulate matter calculated using mileage will increase compared with 2022/23.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2023/24年加入了行車里 程數的記錄,故此利用里程數作計 算的氮氧化物及顆粒物的數字會比 2022/23年上升。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	2022/23 二零二二╱二三年	2023/24 二零二三╱二四年
Nitrogen oxides (NOx)	kg	<0.001	14.60
氮氧化物(NOx) Sulfur oxides (SOx)	千克 kg	0.025	0.024
硫氧化物(SOx) Particulate Matter (PM) 顆粒物(PM)	千克 kg 千克	<0.001	1.40
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.

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。

A.		ENVIRONMENTAL (continued)	A.	環境(續)
	1.	Exhaust Emissions and Greenhouse Emissions (continued)	Gas 1.	廢氣排放及溫室氣體排放(續)
		The Group's greenhouse gas emissions during the reporting period are as follows:		本集團在報告期內的溫室氣體排放 量如下:
		Greenhouse gas emissions type 溫室氣體排放類別	Unit 單位	Greenhouse gas emissions 溫室氣體排放量 2022/23 二零二二╱二三年	2023/24 二零二三╱二四年
		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	1.09	0.66
		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	13.13	6.64
		Direct emissions (scope 1) 直接排放(範圍1)	tonnes of carbon dioxide equivalent 公噸二氧化碳當量	8.18	3.75
		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	4.95	2.89
		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 Assessment Report, and Average Emission Factors of Nationwide Grids in 2022.		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 國電網平均排放因子》
		— The Group did not generate direct energy emissions in scope 1		範圍1本集團在報告期內並沒有直接 —

during the reporting period, and scope 2 included indirect energy emissions from purchased electricity.

能源排放;以及範圍2包括購買電力的 能源間接排放。

A. ENVIRONMENTAL (continued)

1. 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 21.9 kg of paper (2022/23: 37.5 kg) while recycling approximately 21.9 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21.9公斤(2022/23年度:37.5公 斤),而廢紙回收的數量約為21.9 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

附註:

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	2022/23 二零二二╱二三年	2023/24 二零二三╱二四年
Total energy consumption 總能源耗量	kWh 千瓦時	41,352.23	20,039.69
Total energy consumption intensity (in terms of output of finished products)	kWh/number of employees	3,446.02	2,003.97
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	32,668.53	14,973.62
Indirect energy consumption	kWh	8,684.70	5,066.08
(electricity) 間接能源耗量(電力)	千瓦時

— 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 源耗量包括電力耗量 — During the reporting period, the Group's direct energy consumption included gasoline and natural gas consumption; and indirect energy consumption included electricity consumption.

Note:

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. 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。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	2022/23 二零二二╱二三年	2023/24 二零二三╱二四年
Total water consumption intensity 總耗水量密度	m3 /employee 立方米╱每名員工	0.28	0.19
Total water consumption 總耗水量	m3 立方米	3.33	1.94

A. ENVIRONMENTAL (continued)

3. Environment and Natural Resources

The Group strives to reduce any negative impact on the environment. The Group is committed to impl ementing control me a sur e s for ene rgy 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 rec ruitment, 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 pl anning, the Group ha s e st abl ished 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)

1. 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)

B. 社會(續)

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.

1. 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)		B.	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 number of employees of the Group classified by different categories is as follows:					本集團按不同類別劃分的僱員 人數如下:
			Category	分類				Total number of employees (person) 僱員總數(人)
					按性別劃分
			By gender Male	男性				3
			Female	女性				7
			By employment type		按僱傭類型劃分
			Full-time	全職				10
			By age groups		按年齡組別劃分
			15–24		15–24歲			1
			25–34		25–34歲			4
			35–44		35–44歲			2
			45–54		45–54歲			3
			55–64		55–64歲			0
			65 or above		65歲或以上			0
			By geographical region		按地區劃分
			China	中國				10
			Others	其他				0

B.		SOCIAL	(continued)	B.		社會(續)
	1.		Employment and Labour Practices	(continued)	1.	僱傭與勞工常規(續)
		(c)	Retaining Talents (continued)			保留人才(續) (c)
			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 employee turnover rate (%) 每月平均僱員
			Category	分類			流失比率(%)
			By gender Male Female	按性別劃分 男性 女性			5.56% 0.00%
			By age groups 15–24 25–34 35–44 45–54 55–64 65 or above	按年齡組別劃分 16–24歲 25–34歲 35–44歲 45–54歲 55–64歲 65歲或以上			0.00% 0.00% 0.00% 5.56% 0.00% 0.00%
			By geographical region China	按地區劃分 中國			1.67%

Others 其他 0.00%

Note:

— The calculation was based on the Reporting Guidance on Social KPIs issued by the Stock Exchange.

二零二四年年度報告 • 萬星控股有限公司 79

附註:

— 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 (2021/22, 2022/23 and 2023/24), 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(2021/22、 2022/23及2023/24)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 Male	按性別劃分 男性	30%	3.00
Female	女性	70%	3.00
By employee type	按僱員類別劃分 高級管理層
Senior management	中級管理層	40%	2.50
Mid-level management Supervisors	主管	20% 40%	5.00 2.50
General staff	一般員工	0%	0.00
Note:		附註:
— Social KPIs issued by the Stock Exchange.	The calculation was based on the Reporting Guidance on	— 效指標匯報指引	計算乃基於聯交所發佈的社會關鍵績

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 establ ished 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)

4. 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)

4. 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; and

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)

1. 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;及

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 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 fulfi l its soc ial responsibi lities 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	A1
	waste, and the description of the waste reduction targets set and the steps taken to achieve these targets.
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	A2
指標A.2.1	volume, per facility). 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
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。	reporting period 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 指標B.2.3	Description of the occupational health and safety measures adopted, 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。	B2
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 employee category.	B3
指標B.3.2	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	Labour Standards	B4
方面B.4 KPI B.4.1	勞工準則 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
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。	of suppliers 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 implementation and monitoring methods.	C1
指標B.5.4	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。

	Social	Section
B	社會	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	There were no
	against the issuer or its employees during the Reporting Period and the outcomes of the cases.	corruption lawsuits during
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。	the period 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 104 to 207, which comprise the consolidated statement of financial position as at 30 June 2024, 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 material accounting policy information.

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 2024, 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104至207頁之綜合財務 報表,當中包括於二零二四年六月三十日之綜 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,包括重要 會計政策資料。

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 貴集團於二零二四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。

栢淳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 had a net cash used in operating activities of approximately HK\$54,730,000 for the year ended 30 June 2024 and had borrowings and loans from a shareholder, directors, a shareholder and director and an ultimate beneficial owner repayable on demand of approximately HK\$1,856,000, HK\$716,000, HK\$219,000, HK\$705,000 and HK\$4,508,000 respectively, while the Group had total bank balances and cash amounting to approximately HK\$4,146,000 as at 30 June 2024. 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.

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。 貴集團於截至二零二四年六月三十日止 年 度 錄 得 經 營 活 動 所 用 之 現 金 淨 額 約 54,730,000港元及來自一名股東、董事、一名 股東及董事以及一名最終實益擁有人的借貸及 貸款(須按要求償還)分別約1,856,000港元、 716,000港元、219,000港元、705,000港元及 4,508,000港元,而 貴集團於二零二四年六月 三十日擁有銀行結餘及現金總額約4,146,000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。

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 138 to 144. 請參閱綜合財務報表附註18以及第138頁至144頁所 載會計政策。

As at 30 June 2024, the Group had trade receivables of approximately HK\$5,655,000 after allowance for doubtful debts of approximately HK\$2,091,000. 於二零二四年六月三十日, 貴集團擁有貿易應收款 項約5,655,000港元,已扣除呆賬撥備約2,091,000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 rev iew 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 prepayments and other receivables

Refer to note 19 to the consolidated financial statements and the accounting policies on pages 138 to 144. 請參閱綜合財務報表附註19以及第138頁至144頁所

載會計政策。

As at 30 June 2024, the Group had prepayments and other receivables of approximately HK\$87,306,000 after allowance for doubtful debts of approximately HK\$49,446,000.

於二零二四年六月三十日, 貴集團擁有預付款項及 其他應收款項約87,306,000港元,已扣除呆賬撥備約 49,446,000港元。

Management performed periodic assessment on the recoverability of the 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 on-going business relationships with the relevant counterparties. Management also considered forward-looking 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 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

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 prepayments and other receivables included:

我們處理管理層於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 prepayments and other receivables had been appropriately grouped by management based on their shared credit risk characteristics;
• 評估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。

OTHER INFORMATION

The directors of the Company are responsible for the other information. The other information comprises all of the information included in the annual report, but does not include 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 所有載入年報之資料,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 Limited Certified Public Accountants Lee Kwok Lun Practising Certificate Number: P06294

Hong Kong 26 September 2024

栢淳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 二零二四年九月二十六日

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 2024 截至二零二四年六月三十日止年度

		2024	2023
		二零二四年	二零二三年
	Notes	HK\$'000	HK\$'000
	附註	千港元	千港元
收入	5	124,541	69,962
已售貨品及服務成本		(136,911)	(72,268)
		(12,370)	(2,306)
			(7,147)
			(1,099)
行政開支			(17,762)
財務成本	8	(1,283)	(1,727)
除稅前溢利╱(虧損)		16,432	(30,041)
	9	1,103	50
			(29,991)
匯兌差額			(12,264)
全面收益╱(開支)
		6,351	(12,264)
			(42,255)
			(6.10)
	毛損 銷售及分銷開支 所得稅抵免 本公司擁有人應佔年內 溢利╱(虧損) 其他全面收益╱(開支): 換算境外業務產生之 收益╱(開支)總額 每股盈利╱(虧損) 基本及攤薄(港仙)	其他收入、收益及虧損淨額 7 10 可能重新分類至損益的項目: 本公司擁有人應佔年內其他 本公司擁有人應佔年內全面 14	39,084 (864) (8,135) 17,535 6,351 23,886 3.06

CONSOLIDATED STATEMENT OF FINANCIAL POSITION 綜合財務狀況表

At 30 June 2024 於二零二四年六月三十日

			2024	2023
		Notes	二零二四年 HK\$'000	二零二三年 HK\$'000
		附註	千港元	千港元
Non-current assets	非流動資產 物業、廠房及設備
Property, plant and equipment Right-of-use assets	使用權資產	15 16(a)	6 –	2,384 208
Goodwill	商譽	17	–	–
Total non-current assets	非流動資產總值		6	2,592
Current assets	流動資產
Inventories	存貨		–	45
Trade receivables	貿易應收款項	18	5,655	35,359
Prepayments and other receivables	預付款項及其他應收款項	19	87,306	82,534
Cryptocurrency	加密貨幣 受限制銀行存款	20	10	10
Restricted bank deposits Pledged bank deposits	已抵押銀行存款	21 21	101 –	105 25,882
Bank balances and cash	銀行結餘及現金	21	4,146	4,708
			97,218	148,643
Assets classified as held-for-sale	分類為持作出售之資產	22	–	3,368
Total current assets	流動資產總值		97,218	152,011
Current liabilities	流動負債
Trade and bills payables	貿易應付款項及應付票據	23	6,577	44,899
Accruals and other payables	應計費用及其他應付款項	24	23,248	37,065
Borrowings	借貸	25	1,856	4,691
Loans from a shareholder and director	來自一名股東及董事貸款	26	705	30,416
Loan from a shareholder	來自一名股東貸款	26	716	17,254
Loans from directors	來自董事貸款	26	219	157
Loans from an ultimate	來自一名最終實益擁有人貸款
beneficial owner		26	4,508	–
Lease liabilities	租賃負債	16(b)	–	240
Current tax liabilities	當期稅項負債		–	1,103
			37,829	135,825
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	流動負債總值		37,829	141,064
Net current assets	流動資產淨值		59,389	10,947
Total assets less current liabilities	總資產減流動負債		59,395	13,539

CONSOLIDATED STATEMENT OF FINANCIAL POSITION 綜合財務狀況表

At 30 June 2024 於二零二四年六月三十日

		Notes	2024 二零二四年 HK\$'000	2023 二零二三年 HK\$'000
		附註	千港元	千港元
Non-current liabilities	非流動負債
Lease liabilities	租賃負債	16(b)	–	42
Total non-current liabilities	非流動負債總值		–	42
Net assets	資產淨值		59,395	13,497
Capital and reserves	資本及儲備 股本
Share capital	儲備	28	6,872	5,080
Reserves			52,523	8,417
TOTAL EQUITY	權益總額		59,395	13,497

The consolidated financial statements on pages 104 to 207 were approved by the board of directors on 26 September 2024, and are signed on its behalf by:

第104至207頁的綜合財務報表已由董事會於 二零二四年九月二十六日批准並由下列董事 代表簽署:

ZENG Jin TIAN Yuan 曾金 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 2024 截至二零二四年六月三十日止年度

				Attributable to owners of the Company 本公司擁有人應佔
		Share capital 股本	Share premium 股份溢價	Statutory reserve 法定儲備 (note) (附註)	Exchange reserve 匯兌儲備	Accumulated losses 累計虧損	Total 總計
		HK\$'000 千港元	HK\$'000 千港元	HK\$'000 千港元	HK\$'000 千港元	HK\$'000 千港元	HK\$'000 千港元
At 1 July 2022	於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 Other comprehensive expense	年內虧損 年內其他全面開支	–	–	–	–	(29,991)	(29,991)
for the year Exchange differences on translating of foreign operations	換算境外業務之匯兌差額	–	–	–	(12,264)	–	(12,264)
Total comprehensive expense for the year	年內全面開支總額	–	–	–	(12,264)	(29,991)	(42,255)
Issue of shares (Note 28)	發行股份(附註28)	200	2,800	–	–	–	3,000
At 30 June 2023 and 1 July 2023	於二零二三年六月三十日 及二零二三年七月一日	5,080	63,702	1,806	(15,020)	(42,071)	13,497
Profit for the year Other comprehensive income	年內溢利 年內其他全面收益	–	–	–	–	17,535	17,535
for the year Exchange differences on translating of foreign operations	換算境外業務之匯兌差額	–	–	–	6,351	–	6,351
Total comprehensive income for the year Issue of shares (Note 28)	年內全面收益總額 發行股份(附註28)	– 1,792	– 20,220	– –	6,351 –	17,535 –	23,886 22,012
At 30 June 2024	於二零二四年六月三十日	6,872	83,922	1,806	(8,669)	(24,536)	59,395

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 2024 截至二零二四年六月三十日止年度

		2024 二零二四年 HK\$'000	2023 二零二三年 HK\$'000
		千港元	千港元
CASH FLOWS FROM OPERATING ACTIVITIES 經營活動產生之現金流量 Profit/(loss) before tax	除稅前溢利╱(虧損)	16,432	(30,041)
Adjustments for:	經以下各項調整:
Interest income	利息收入	(37)	(1,129)
Finance costs	財務成本	1,283	1,727
Depreciation of property, plant and equipment	物業、廠房及設備折舊	940	1,992
Depreciation of right-of-use assets	使用權資產折舊	128	568
Gain on disposal of subsidiaries	出售附屬公司之收益	(1,651)	–
Gain on disposal of assets and liabilities	出售資產及與分類為
associated with assets classified	持作出售之資產
as held-for-sale	有關之負債之收益	(2,321)	–
Gain on disposal of property,	出售物業、廠房及設備
plant and equipment	之收益	–	(24)
(Reversal of impairment loss)/impairment	已確認貿易應收款項、
loss recognised on trade receivables,	預付款項及其他應收
prepayments and other receivables, net	款項(減值虧損
	撥回)╱減值虧損淨額	(34,950)	11,609
Operating loss before working capital	營運資金變動前之經營 虧損
changes		(20,176)	(15,298)
Decrease/(increase) in inventories	存貨減少╱(增加)	43	(45)
Decrease/(increase) in trade receivables	貿易應收款項減少╱(增加)	2,155	(39,609)
Decrease/(increase) in prepayments and	預付款項及其他
other receivables	應收款項減少╱(增加)	10,277	(37,450)
(Decrease)/increase in trade and bills payables	貿易應付款項及應付票據
	(減少)╱增加	(38,184)	39,219
(Decrease)/increase in accruals and other	應計費用及其他應
payables	付款項(減少)╱增加	(8,882)	29,595
Cash used in operations	經營所用之現金	(54,767)	(23,588)
Interest received	已收利息	37	1,129
Income tax paid	已付所得稅	–	(1,102)
Net cash used in operating activities	經營活動所用之現金淨額	(54,730)	(23,561)

CONSOLIDATED STATEMENT OF CASH FLOWS 綜合現金流量表

For the year ended 30 June 2024 截至二零二四年六月三十日止年度

			2024 二零二四年	2023 二零二三年
		Notes	HK\$'000	HK\$'000
		附註	千港元	千港元
	投資活動產生之現金流量
CASH FLOWS FROM INVESTING ACTIVITIES Purchases of property, plant and equipment	購買物業、廠房及設備		–	(2,426)
Proceeds from disposals of property,	出售物業、廠房及設備之
plant and equipment	所得款項		–	113
Proceeds from disposals of assets classified as held-for-sale	出售分類為持作出售資產 之所得款項		84	–
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 提取已抵押銀行存款		–	(105)
Withdrawal of pledged bank deposits Disposal of subsidiaries (net of bank balances	出售附屬公司(扣除		25,882	–
and cash disposed of)	已出售銀行結餘及現金)		(706)	–
Net cash generated from/(used in)	投資活動產生╱(所用)
investing activities	之現金淨額		25,260	(28,300)
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		22,012	3,000
Borrowings raised Repayment of borrowings	已籌集借貸 償還借貸	35(b) 35(b)	400 –	500 (7,555)
Repayment of lease liabilities	償還租賃負債	35(b)	(205)	(515)
Repayment of the loans from shareholders and directors	償還來自股東及董事之 貸款	35(b)	(97)	–
Advance from a shareholder and director	來自一名股東及
	董事墊款	35(b)	1,353	31,773
Advance from a shareholder Advance from directors	來自一名股東墊款 來自董事墊款	35(b) 35(b)	110 839	10,139 164
Advance from an ultimate beneficial owner	來自一名最終實益
	擁有人墊款	35(b)	4,508	–
Interest paid	已付利息	35(b)	–	(423)
Net cash generated from	融資活動產生之現金淨額
financing activities			28,920	37,083
NET DECREASE IN CASH	現金及現金等價物
AND CASH EQUIVALENTS	減少淨額		(550)	(14,778)
CASH AND CASH EQUIVALENTS	年初之現金及現金等價物
AT BEGINNING OF THE YEAR			4,724	19,907
Effect of foreign exchange rate changes, net	匯率變動之淨影響		(28)	(405)
CASH AND CASH EQUIVALENTS AT END	年終之現金及現金等價物
OF THE YEAR			4,146	4,724
	現金及現金等
ANALYSIS OF BALANCES OF CASH AND CASH EQUIVALENTS	價物結餘分析
Bank balances and cash	銀行結餘及現金
(including which classified as held for sale)	(包括分類為持作出售者)		4,146	4,724

For the year ended 30 June 2024 截至二零二四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 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.

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, Hutchins Drive, 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。

For the year ended 30 June 2024 截至二零二四年六月三十日止年度

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

New and amendments to HKFRSs that are mandatory effective for the year

In the current year, the Group has applied, for the first time, the following new and amendments to HKFRSs issued by the HKICPA which are effective for the Group's financial year beginning on 1 July 2023:

HKFRS 17 (including the October 2020 and February 2022 amendments to HKFRS 17)	Insurance Contracts	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(修訂本))
Amendments to HKAS 1 and HKFRS Practice Statement 2	Disclosure of Accounting Policies	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)
Amendments to HKAS 8	Definition of Accounting Estimates	香港會計準則第8號 (修訂本)
Amendments to HKAS 12	Deferred Tax related to Assets and Liabilities arising from a Single Transaction	香港會計準則第12號 (修訂本)
Amendments to HKAS 12	International Tax Reform — Pillar Two Model Rules	香港會計準則第12號 (修訂本)

The application of the new and 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.

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新訂及經修訂香 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在二零二三年七 月一日開始之財政年度生效之以下新訂 及經修訂香港財務報告準則:

香港財務報告準則	保險合約
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(修訂本))
香港會計準則第1號及	會計政策披露
香港財務報告準則實務
報告第2號(修訂本)
香港會計準則第8號	會計估計的定義
(修訂本)
香港會計準則第12號	與單一交易產生的
(修訂本)	資產及負債相關的
	遞延稅項
香港會計準則第12號	國際稅務改革
(修訂本)	— 支柱二範本規則

本年度應用新訂及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 2024 截至二零二四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 early applied the following new and revised HKFRSs that have been issued but are not yet effective:

HKFRS 18	Presentation and disclosure in Financial Statements3
HKFRS 19	Subsidiaries without Public Accountability: Disclosures3
Amendments to HKFRS 10 and HKAS 28	Sale or Contribution of Assets between an Investor and its Associate or Joint Venture4	香港財務報告準則第10號及 香港會計準則第28號 (修訂本)
Amendments to HKFRS 16	Lease Liability in a Sale and Leaseback1	香港財務報告準則第16號 (修訂本)
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 Clause1
Amendments to HKAS 1	Non-current Liabilities with Covenants1	香港會計準則第1號 (修訂本)
Amendments to HKAS 7 and HKFRS 7	Supplier Finance Arrangements1	香港會計準則第7號及 香港財務報告準則第7號 (修訂本)
Amendments to HKAS 21	Lack of Exchangeability2	香港會計準則第21號

¹ Effective for annual periods beginning on or after 1 January 2024.

• ² Effective for annual periods beginning on or after 1 January 2025.
• ³ Effective for annual periods beginning on or after 1 January 2027.
• ⁴ 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.

1. 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

本集團並無提早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18號			披露3	財務報表的呈列及
		香港財務報告準則第19號				無公眾問責性的 附屬公司:披露3
	(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4
	(修訂本)	香港財務報告準則第16號				售後回租的 租賃負債1
		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」1
	(修訂本)	香港會計準則第1號			負債1	附帶契諾的非流動
	(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1
	(修訂本)	香港會計準則第21號				缺乏可交換性2
1		於二零二四年一月一日或之後開始的年度期

• 間生效。
• ² 於二零二五年一月一日或之後開始的年度期 間生效。
• ³ 於二零二七年一月一日或之後開始的年度期 間生效。
• ⁴ 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 2024 截至二零二四年六月三十日止年度

3. MATERIAL ACCOUNTING POLICY INFORMATION

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 material accounting policy information 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 had a net cash used in operating activities of approximately HK\$54,730,000 for the year ended 30 June 2024 and had borrowings and loans from a shareholder, directors, a shareholder and director and an ultimate beneficial owner repayable on demand of approximately HK\$1,856,000, HK\$716,000, HK\$219,000, HK\$705,000 and HK\$4,508,000 respectively, while the Group had total bank balances and cash amounting to approximately HK\$4,146,000 as at 30 June 2024. 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. 重要會計政策資料

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。

重要會計政策資料載列如下。

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。本集團於截至二零二四年 六月三十日止年度錄得經營活動所用之 現金淨額約54,730,000港元及來自一名 股東、董事、一名股東及董事以及一名 最終實益擁有人的借貸及貸款(須按要求 償還)分別約1,856,000港元、716,000港 元、219,000 港 元、705,000 港 元 及 4,508,000港元,而本集團於二零二四年 六月三十日擁有銀行結餘及現金總額約 4,146,000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 2024 截至二零二四年六月三十日止年度

3. MATERIAL ACCOUNTING POLICY INFORMATION (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 shareholder and director, the shareholder, directors and the ultimate beneficial shareholder of the Company have agreed not call for any repayment of loans amounting approximately HK\$705,000, HK\$716,000, HK\$219,000 and HK\$4,508,000 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.

3. 重要會計政策資料(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
• 本公司一名股東及董事、一名股東、 董事及一名最終實益股東已同意不 要求償還金額分別約為705,000港 元、716,000港元、219,000港元及 4,508,000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。

For the year ended 30 June 2024 截至二零二四年六月三十日止年度

3. MATERIAL ACCOUNTING POLICY INFORMATION (continued)

Basis of preparation (continued)

Going concern assessment (continued)

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.

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. 重要會計政策資料(續)

編製基準(續)

持續經營評估(續)

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。

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 2024 截至二零二四年六月三十日止年度

3. MATERIAL ACCOUNTING POLICY INFORMATION (continued)

Changes in the Group's ownership interests in existing subsidiaries

Changes in the Group's ownership interests in existing subsidiaries that do not result in the Group losing control over the subsidiaries are accounted for as equity transactions. The carrying amounts of the Group's interests and the noncontrolling interests are adjusted to reflect the changes in their relative interests in the subsidiaries. Any difference between the amount by which the non-controlling interests are adjusted and the fair value of the consideration paid or received is recognised directly in equity and attributed to owners of the Company.

When the Group loses control of a subsidiary, it (i) derecognises the assets (including any goodwill) and liabilities of the subsidiary at their carrying amounts at the date when control is lost, (ii) derecognises the carrying amount of any non-controlling interests in the former subsidiary at the date when control is lost (including any components of other comprehensive income attributable to them), and (iii) recognises the aggregate of the fair value of the consideration received and the fair value of any retained interest, with any resulting difference being recognised as a gain or loss in profit or loss attributable to the Group. When assets and liabilities of the subsidiary are carried at revalued amounts or fair values and the related cumulative gain or loss has been recognised in other comprehensive income and accumulated in equity, the amounts previously recognised in other comprehensive income and accumulated in equity are accounted for as if the Group had directly disposed of the related assets and liabilities (i.e. reclassified to profit or loss or transferred directly to retained earnings as specified by applicable HKFRSs). The fair value of any investment retained in the former subsidiary at the date when control is lost is regarded as the fair value on initial recognition for subsequent accounting under HKFRS 9 Financial Instruments or, when applicable, the cost on initial recognition of an investment in an associate or a joint venture.

3. 重要會計政策資料(續)

本集團於現有附屬公司所有權權益之 變動

不會導致本集團失去對附屬公司控制權 之本集團於現有附屬公司所有權權益之 變動乃入賬列作權益交易。本集團之權 益及非控制權益之賬面值會作出調整, 以反映其於附屬公司相關權益之變動。 非控制權益調整金額與已付或已收代價 公平值之間之任何差額直接於權益內確 認,並歸屬於本公司擁有人。

當本集團失去對附屬公司之控制權,則 其(i)於失去控制權當日終止按賬面值確 認附屬公司之資產(包括任何商譽)及負 債,(ii)於失去控制權當日終止確認前附 屬公司任何非控制權益(包括彼等應佔其 他全面收益之任何組成部份)之賬面值, 及(iii)確認已收代價之公平值及任何保留 權益之公平值之總額,任何所產生之差 額於損益內確認為本集團應佔收益或虧 損。當附屬公司之資產及負債按重估金 額或公平值列賬,而相關累計收益或虧 損已於其他全面收益內確認並於權益累 計,則先前於其他全面收益確認並於權 益累計之金額會列作猶如本集團已直接 出售相關資產及負債入賬(即根據適用香 港財務報告準則所指明重新分類至損益 或直接轉撥至保留盈利)。於失去控制權 當日於前附屬公司保留之任何投資之公 平值在其後入賬時會根據香港財務報告 準則第9號「金融工具」被視為初始確認 之公平值,或初始確認於聯營公司或合 營企業之投資之成本(如適用)。

For the year ended 30 June 2024 截至二零二四年六月三十日止年度

3. MATERIAL ACCOUNTING POLICY INFORMATION (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 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);
• assets (or disposal groups) that are classified as held for sale in accordance with HKFRS 5 Non-current Assets Held for Sale and Discontinued Operations are measured in accordance with that standard; and

3. 重要會計政策資料(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);
• 根據香港財務報告準則第5號「持作 出售之非流動資產及已終止經營業 務」分類為持作出售之資產(或出售 組別)按該準則計量;及

For the year ended 30 June 2024 截至二零二四年六月三十日止年度

3. MATERIAL ACCOUNTING POLICY INFORMATION (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. 重要會計政策資料(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 2024 截至二零二四年六月三十日止年度

3. MATERIAL ACCOUNTING POLICY INFORMATION (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. 重要會計政策資料(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 2024 截至二零二四年六月三十日止年度

3. MATERIAL ACCOUNTING POLICY INFORMATION (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. 重要會計政策資料(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 2024 截至二零二四年六月三十日止年度

3.	MATERIAL	ACCOUNTING POLICY INFORMATION (continued)	3.	重要會計政策資料(續)
	Revenue	from contracts with customers		客戶合約收入
		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:		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:
	Step 1:	Identify the contracts with a customer;		第一步: 識別與客戶之合約;
	Step 2:	Identify the performance obligations on the contract;		第二步: 識別合約內之履約責任;
	Step 3:	Determine the transaction price;		第三步: 釐定交易價格;
	Step 4:	Allocate the transaction price to the performance obligations in the contract; and		第四步: 分配交易價格至合約內之履約 責任;及
	Step 5:	Recognise revenue when (or as) the entity satisfies a performance obligations.		第五步: 於(或隨著)實體完成履約責任 時確認收入。
		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.		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。
		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.		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。
		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:		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:
	•	The customer simultaneously receives and consumes the benefits provided by the Group's performance as the Group performs;		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;
	•	The Group's performance creates or enhances an asset that the customer controls as the asset is created or enhanced; or		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

• 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.

• 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 2024 截至二零二四年六月三十日止年度

3. MATERIAL ACCOUNTING POLICY INFORMATION (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 to which the Group expects to be entitled 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 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. 重要會計政策資料(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。

收入根據本集團預期在與客戶合約中有 權收取的代價計量,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 2024 截至二零二四年六月三十日止年度

3. MATERIAL ACCOUNTING POLICY INFORMATION (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 of HKFRS 16, the Group assesses whether a contract is or contains a lease, at inception of the contract or modification date. The Group recognises a rightof-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. 重要會計政策資料(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

對於首次應用香港財務報告準則第16號 的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 2024 截至二零二四年六月三十日止年度

3. MATERIAL ACCOUNTING POLICY INFORMATION (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 consolidated statement of 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.

1. 重要會計政策資料(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)。

租賃負債在綜合財務狀況表中單獨呈列。

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 2024 截至二零二四年六月三十日止年度

3. MATERIAL ACCOUNTING POLICY INFORMATION (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.

Right-of-use assets

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.

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 consolidated statement of 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.

1. 重要會計政策資料(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

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。

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。

本集團於綜合財務狀況表內將使用權資 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 2024 截至二零二四年六月三十日止年度

3. MATERIAL ACCOUNTING POLICY INFORMATION (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. 重要會計政策資料(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 2024 截至二零二四年六月三十日止年度

3. MATERIAL ACCOUNTING POLICY INFORMATION (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. 重要會計政策資料(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 2024 截至二零二四年六月三十日止年度

3. MATERIAL ACCOUNTING POLICY INFORMATION (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.

3. 重要會計政策資料(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。

For the year ended 30 June 2024 截至二零二四年六月三十日止年度

3. MATERIAL ACCOUNTING POLICY INFORMATION (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 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.

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. 重要會計政策資料(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。

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 2024 截至二零二四年六月三十日止年度

3. MATERIAL ACCOUNTING POLICY INFORMATION (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. 重要會計政策資料(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 2024 截至二零二四年六月三十日止年度

3. MATERIAL ACCOUNTING POLICY INFORMATION (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 profit/(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 assets and liabilities in a transaction that affects neither the taxable profit nor the accounting profit and at the time of the transaction does not give rise to equal taxable and deductible temporary differences.

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.

3. 重要會計政策資料(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溢利╱(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)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,且進行交易 時並不會產生同等的應課稅及可扣稅暫 時差額,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。

For the year ended 30 June 2024 截至二零二四年六月三十日止年度

3. MATERIAL ACCOUNTING POLICY INFORMATION (continued)

Taxation (continued)

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.

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 leasing transactions in which the tax deductions are attributable to the lease liabilities, the Group applies HKAS 12 requirements to related assets and lease liabilities separately. The Group recognises a deferred tax asset related to lease liabilities to the extent that it is probable that taxable profit will be available against which the deductible temporary difference can be utilised and a deferred tax liability for all taxable temporary differences.

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. 重要會計政策資料(續)

稅項(續)

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。

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。

就稅項減免歸屬於租賃負債的租賃交易 而言,本集團就相關資產及租賃負債單 獨應用香港會計準則第12號的規定。本 集團於可能有應課稅溢利可用於抵銷可 扣稅暫時差額時確認與租賃負債有關之 遞延稅項資產,並就所有應課稅暫時差 額確認遞延稅項負債。

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 2024 截至二零二四年六月三十日止年度

3. MATERIAL ACCOUNTING POLICY INFORMATION (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, bank balances and cash comprise cash (i.e. cash on hand and demand deposits) and cash equivalents. Cash equivalents are short-term (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.

3. 重要會計政策資料(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,銀行結餘及現金 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。

For the year ended 30 June 2024 截至二零二四年六月三十日止年度

3. MATERIAL ACCOUNTING POLICY INFORMATION (continued)

Cash and cash equivalents (Continued)

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.

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.

Investments in subsidiaries

Investments in subsidiaries are stated on the statement of financial position of the Company at cost less accumulated impairment loss.

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.

3. 重要會計政策資料(續)

現金及現金等價物(續)

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。

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。

於附屬公司之投資

於附屬公司之投資按成本減累計減值虧 損於本公司財務狀況表列賬。

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。

For the year ended 30 June 2024 截至二零二四年六月三十日止年度

3. MATERIAL ACCOUNTING POLICY INFORMATION (continued)

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.

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.

3. 重要會計政策資料(續)

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。

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。

For the year ended 30 June 2024 截至二零二四年六月三十日止年度

3. MATERIAL ACCOUNTING POLICY INFORMATION (continued)

Financial instruments (continued)

Financial assets (continued)

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.

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.

1. 重要會計政策資料(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)

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。

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。

For the year ended 30 June 2024 截至二零二四年六月三十日止年度

3. MATERIAL ACCOUNTING POLICY INFORMATION (continued)

Financial instruments (continued)

Financial assets (continued)

Financial assets at amortised cost (debt instruments) (continued)

(i) Amortised cost and effective interest method (continued)

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).

• 1. 重要會計政策資料(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)

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 2024 截至二零二四年六月三十日止年度

3. MATERIAL ACCOUNTING POLICY INFORMATION (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. The ECL on trade receivables is assessed individually for debtors with significant balances or credit-impaired and/or collectively 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, in which case 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.

1. 重要會計政策資料(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確認全期預 期信貸虧損。貿易應收款項之預期信貸 虧損乃就具有重大結餘或已出現信貸減 值的債務人進行獨立評估,及╱或根據 本集團的歷史信貸虧損經驗採用撥備矩 陣進行整體評估,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,在此情況下,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 2024 截至二零二四年六月三十日止年度

3. MATERIAL ACCOUNTING POLICY INFORMATION (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;

• 1. 重要會計政策資料(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 2024 截至二零二四年六月三十日止年度

3. MATERIAL ACCOUNTING POLICY INFORMATION (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. 重要會計政策資料(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 2024 截至二零二四年六月三十日止年度

3. MATERIAL ACCOUNTING POLICY INFORMATION (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.

• 1. 重要會計政策資料(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 2024 截至二零二四年六月三十日止年度

3. MATERIAL ACCOUNTING POLICY INFORMATION (continued)

Financial instruments (continued)

Financial assets (continued)

Impairment of financial assets and other items subject to impairment assessment under HKFRS 9 (continued)

Credit-impaired financial assets

A financial asset is credit-impaired when one or more events that have a detrimental impact on the estimated future cash flows of that financial asset have occurred. Evidence that a financial asset is credit-impaired includes observable data about the following events:

• significant financial difficulty of the issuer or the borrower;
• a breach of contract, such as a default or past due event;
• the lender(s) of the borrower, for economic or contractual reasons relating to the borrower's financial difficulty, having granted to the borrower a concession(s) that the lender(s) would not otherwise consider;
• it is becoming probable that the borrower will enter bankruptcy or other financial reorganisation; or

• the disappearance of an active market for that financial asset because of financial difficulties.

• 重要會計政策資料(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)

信貸減值金融資產

當發生對金融資產的估計未來現金流量 產生不利影響的一宗或多宗事件時,該 金融資產即出現信貸減值。金融資產信 貸減值的證據包括以下事件的可觀察數據:

• 發行人或借款人有嚴重財務困難;
• 違反合約,例如違約或逾期事件;
• 借款人的貸款人出於與借款人財務 困難相關的經濟或合約原因,而向 借款人授予貸款人原本不會考慮的 優惠;
• 借款人有可能面臨破產或其他財務 重組;或
• 由於財務困難而導致該金融資產的 活躍市場消失。

For the year ended 30 June 2024 截至二零二四年六月三十日止年度

3. MATERIAL ACCOUNTING POLICY INFORMATION (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.

• 1. 重要會計政策資料(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 2024 截至二零二四年六月三十日止年度

3. MATERIAL ACCOUNTING POLICY INFORMATION (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.

1. 重要會計政策資料(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 2024 截至二零二四年六月三十日止年度

3. MATERIAL ACCOUNTING POLICY INFORMATION (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.

• 1. 重要會計政策資料(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 2024 截至二零二四年六月三十日止年度

3. MATERIAL ACCOUNTING POLICY INFORMATION (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. 重要會計政策資料(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 2024 截至二零二四年六月三十日止年度

3. MATERIAL ACCOUNTING POLICY INFORMATION (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).

1. 重要會計政策資料(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 2024 截至二零二四年六月三十日止年度

3. MATERIAL ACCOUNTING POLICY INFORMATION (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

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. 重要會計政策資料(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 2024 截至二零二四年六月三十日止年度

3. MATERIAL ACCOUNTING POLICY INFORMATION (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. 重要會計政策資料(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 2024 截至二零二四年六月三十日止年度

3. MATERIAL ACCOUNTING POLICY INFORMATION (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 l iabi l it y if market parti c ipants 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. 重要會計政策資料(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 2024 截至二零二四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.

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.

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性前瞻性資 料及定量前瞻性資料。

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。

For the year ended 30 June 2024 截至二零二四年六月三十日止年度

4. SIGNIFICANT ACCOUNTING JUDGEMENTS AND ESTIMATES (continued)

Key sources of estimation uncertainty (continued)

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.

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.

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。

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。

For the year ended 30 June 2024 截至二零二四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 (continued)

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 2024 and 30 June 2023, 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.

Provision of ECL for trade receivables, prepayments and other receivables

Trade receivables with significant balances or 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.

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 (續)

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)。

於二零二四年六月三十日及二零二三年 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。

貿易應收款項、預付款項及其他應收款 項預期信貸虧損撥備

具有重大結餘或已出現信貸減值的貿易 應收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。另外,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。

For the year ended 30 June 2024 截至二零二四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, prepayments and other receivables (continued)

Management performed periodic assessment on the recoverability of the prepayments and other receivables and the sufficiency of allowance for doubtful debts based on information inc luding c redit profi le 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 forward-looking information that may impact the ability of counterparties to repay the outstanding balances in order to estimate the expected credit losses for the impairment assessment.

As at 30 June 2024, impairment losses of trade receivables, prepayments and other receivables are HK\$2,091,000 and H K \$ 4 9 , 4 4 6 , 0 0 0 ( 2 0 2 3 : H K \$ 2 2 , 8 7 9 , 0 0 0 a n d HK\$95,964,000), respectively. The provision of ECL for trade receivables, prepayments and other receivables is sensitive to changes in estimates. The Group's trade receivables, prepayments and other receivables 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、預付款項及其他應收款 項預期信貸虧損撥備(續)

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 手方的持續業務關係等資料對預付款項 及其他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。

於二零二四年六月三十日,貿易應收款 項、預付款項及其他應收款項之減值虧 損分別為2,091,000港元及49,446,000港 元(二 零 二 三 年:22,879,000 港 元 及 95,964,000港元)。貿易應收款項、預付 款項及其他應收款項之預期信貸虧損撥 備對估計變動比較敏感。本集團貿易應 收款項、預付款項及其他應收款項以及 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 2024 截至二零二四年六月三十日止年度

(i) 收入分拆資料

5. REVENUE

Revenue represents revenue arising on internet advertising 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:

1. 收入

收入指年內互聯網廣告服務及數字化產 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) Disaggregated revenue information

		2024 二零二四年 HK\$'000	2023 二零二三年 HK\$'000
		千港元	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 services	互聯網廣告服務	124,339	39,041
Digitalization empowerment platform business	數字化產業賦能 平台業務	202	30,912
		124,541	69,962
Timing of revenue recognition	收入確認時間
At a point in time Over time	於時間點 隨時間	96,122 28,419	30,921 39,041
		124,541	69,962

(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 2024 截至二零二四年六月三十日止年度

5. REVENUE (continued)

(iii) Performance obligations

Internet advertising services

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.

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.

• 1. 收入(續)
• (iii) 表現責任

互聯網廣告服務

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。

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 2024 截至二零二四年六月三十日止年度

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.		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。
For management purpose, during the year, the Group's reportable segments are as follows:		就管理而言,年內,本集團的可呈報分 部如下:
Internet advertising services	—	provision of internet advertising services which included
互聯網廣告服務	—	promotion of online game and etc. 提供互聯網廣告服務(包括推廣線上遊戲等)
Digitalization empowerment platform business*	—	provision of cryptocurrency related business; operating vending machine; and gold trading
數字化產業賦能平台業務*	—	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 ended 30 June 2023, the name was changed as the Group considered it represents the business nature of this segment and its recent development more specifically.		於二零二三年之前,此分部稱為「數字資產業 * 務」。於截至二零二三年六月三十日止年度, 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。
The Group's reportable segments are strategic business units		本集團之可呈報分部為提供不同產品及

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 bank and cash balances and unallocated prepayments and other receivables. Segment liabilities do not include unallocated accruals and other payables, borrowings, loans from a shareholder and director, loans from directors and loans from an ultimate beneficial owner.

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銀行及現金結餘 以及不予分配的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、借貸、來自一名股 東及董事貸款、來自董事貸款以及來自 一名最終實益擁有人貸款。

1. SEGMENT INFORMATION

For the year ended 30 June 2024 截至二零二四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.

1. 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 services platform business 互聯網廣告服務 數字化產業賦能平台業務				Total 總計
		2024 二零二四年 HK\$'000 千港元	2023 二零二三年 HK\$'000 千港元	2024 二零二四年 HK\$'000 千港元	2023 二零二三年 HK\$'000 千港元	2024 二零二四年 HK\$'000 千港元	2023 二零二三年 HK\$'000 千港元
Segment revenue	分部收入	124,339	39,041	202	30,921	124,541	69,962
Segment results	分部業績	11,947	7,487	9,181	(13,755)	21,128	(6,268)
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					163 (4,859)	4,438 (28,211)
Profit/(loss) before tax	除稅前溢利╱(虧損)					16,432	(30,041)
Segment assets	分部資產	34,954	31,688	59,575	30,568	94,529	62,256
Unallocated corporate assets	不予分配的企業資產					2,695	92,347
Total assets	資產總值					97,224	154,603
Segment liabilities	分部負債	9,323	12,319	12,494	33,656	21,817	45,975
Unallocated corporate liabilities	不予分配的企業負債					16,012	95,131
Total liabilities	負債總額					37,829	141,106

For the year ended 30 June 2024 截至二零二四年六月三十日止年度

6. SEGMENT INFORMATION (continued)

1. 分部資料(續)

		Internet advertising services		Digitalization empowerment platform business		Corporate and other unallocated income and expenditure 企業及其他不予分配的		Total
		互聯網廣告服務		數字化產業賦能平台業務		收入及開支		總計
		2024 HK\$'000 千港元	2023 HK\$'000 千港元	2024 HK\$'000 千港元	2023 HK\$'000 千港元	2024 HK\$'000 千港元	2023 HK\$'000 千港元	2024 二零二四年 二零二三年 二零二四年 二零二三年 二零二四年 二零二三年 二零二四年 二零二三年 HK\$'000 千港元	2023 HK\$'000 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 assets*	添置分部非流動資產*	–	–	–	2,912	–	–	–	2,912
Depreciation on property, plant and equipment	物業、廠房及設備折舊	–	–	940	1,992	–	–	940	1,992
Depreciation on right-of-use assets 使用權資產折舊 Gain on disposal of assets and liabilities associated with assets classified as	出售與分類為 持作出售資產 有關之資產及	–	–	128	270	–	298	128	568
held-for-sale	負債之收益	–	–	(2,321)	–	–	–	(2,321)	–
Gain on disposal of subsidiaries Gain on disposal of property, plant and equipment	出售附屬公司之收益 出售物業、廠房及設備 之收益	– –	– –	(1,651) –	– (24)	– –	– –	(1,651) –	– (24)
Reversal of impairment losses recognised on trade receivables, prepayments	已確認貿易應收款項、 預付款項及其他應收 款項減值虧損撥回
and other receivables		(26,440)	(10,049)	(8,510)	6,143	–	15,515	(34,950)	11,609

* 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 2024 截至二零二四年六月三十日止年度

6. SEGMENT INFORMATION (continued)

6. 分部資料(續)

Geographical information

(b) Non-current assets

(a) Revenue from external customers

地區資料

(a) 來自外部客戶之收入

		二零二四年 HK\$'000	2024 千港元	2023 二零二三年 HK\$'000 千港元
The PRC Hong Kong The United States	中國 香港 美國		58,019 57,171 9,351	40,019 – 29,943
		124,541		69,962

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) 非流動資產

		2024 二零二四年 HK\$'000 千港元	2023 二零二三年 HK\$'000 千港元
The PRC Hong Kong Kazakhstan	中國 香港 哈薩克斯坦	6 – –	2,231 – 361
		6	2,592

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 2024 截至二零二四年六月三十日止年度

6. SEGMENT INFORMATION (continued)

6. 分部資料(續)

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:

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:

		2024 二零二四年 HK\$'000 千港元	2023 二零二三年 HK\$'000 千港元
Customer A	客戶A	57,171	–
Customer B	客戶B	28,419	5,336
Customer C	客戶C	13,348	–
Customer D	客戶D	13,258	–
Customer E	客戶E	9,351	29,943
Customer F	客戶F	–	24,077

7. OTHER INCOME, GAINS AND LOSSES, NET

7. 其他收入、收益及虧損淨額

		2024 二零二四年 HK\$'000 千港元	2023 二零二三年 HK\$'000 千港元
Interest income on bank deposits	銀行存款之利息收入	37	77
Interest income on loans receivable	應收貸款之利息收入	–	1,052
Gain on disposal of subsidiaries	出售附屬公司之收益	1,651	–
Gain on disposal of assets and liabilities	出售與分類為
associated with assets classified as	持作出售資產有關之
held-for-sale	資產及負債之收益	2,321	–
Gain on disposal of property,	出售物業、廠房及設備之
plant and equipment	收益	–	24
Impairment loss recognised on	已確認貿易應收款項、
trade receivables, prepayments	預付款項及其他應收款項
and other receivables	減值虧損	(5,103)	(27,820)
Reversal of impairment loss recognised on	已確認貿易應收款項、
trade receivables, prepayments and	預付款項及其他應收款項
other receivables	減值虧損撥回	40,053	16,211
Sundry income	雜項收入	344	59
Exchange (losses)/gains, net	匯兌(虧損)╱收益淨額	(219)	3,250
		39,084	(7,147)

For the year ended 30 June 2024 截至二零二四年六月三十日止年度

8. FINANCE COSTS

1. 財務成本

		2024 二零二四年 HK\$'000 千港元	2023 二零二三年 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	26	209
director		704	303
Interest on loan from a shareholder	來自一名股東貸款利息	550	767
Interest on lease liabilities	租賃負債利息	3	25
Interest expenses on discounted bills	貼現票據利息開支	–	423
		1,283	1,727

9. INCOME TAX CREDIT

9. 所得稅抵免

		2024 二零二四年 HK\$'000 千港元	2023 二零二三年 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	– (1,103)	– (50)
		(1,103)	(50)

Pursuant to the rules and regulations of the Cayman Islands and the British Virgin Islands ("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 the tax rate of 25% (2023: 25%). No provision for PRC EIT has been made in the consolidated financial statements as the group entities has no taxable income for both years.

根據開曼群島及英屬處女群島(「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。

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% (二零二三年:25%)之稅率計提撥備。 由於集團實體於兩個年度均無應課稅收 入,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 2024 截至二零二四年六月三十日止年度

9. INCOME TAX CREDIT (continued) Taxation for other jurisdictions are calculated at the applicable rates prevailing at where the group entities operate. 9. 所得稅抵免(續)

The reconciliation between the income tax credit and the profit/(loss) before tax multiplied by the income tax rate applicable to respective tax jurisdictions is as follows:

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。

所得稅抵免與除稅前溢利╱(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:

		2024 二零二四年 HK\$'000 千港元	2023 二零二三年 HK\$'000 千港元
Profit/(loss) before tax	除稅前溢利╱(虧損)	16,432	(30,041)
Tax calculated at the rates applicable to respective tax jurisdictions	按適用於各自稅項司法權區 稅率計算的稅項	3,412	(5,907)
Tax effect of income that is not taxable Tax effect of expenses that are	毋須課稅收入之稅務影響 不可扣稅開支之稅務影響	(418)	(531)
not deductible Tax effect of tax losses not recognised Utilisation of tax losses previously	未確認稅項虧損之稅務影響 動用先前未確認之稅項虧損	2,983 1,421	4,919 1,519
not recognised Over-provision in respect of prior year	過往年度超額撥備	(7,398) (1,103)	– (50)
Income tax credit	所得稅抵免	(1,103)	(50)

10. PROFIT/(LOSS) FOR THE YEAR

10. 年內溢利╱(虧損)

The Group's profit/(loss) for the year is arrived at after (crediting)/charging the following:

本 集 團 之 年 內 溢 利╱(虧 損)乃 經(計 入)╱扣除以下各項後達致:

		2024 二零二四年 HK\$'000 千港元	2023 二零二三年 HK\$'000 千港元
Auditors' remuneration	核數師酬金	700	700
Employee benefit expenses (note 11)	僱員福利開支(附註11)	2,417	6,396
Depreciation of plant and equipment	廠房及設備折舊	940	1,992
Depreciation of right-of-use assets	使用權資產折舊	128	568
Lease payments not included in	未計入計量租賃負債之
the measurement of lease liabilities	租賃付款	386	1,015
Reversal of impairment losses recognised	已確認貿易應收款項
on trade receivables, net	減值虧損撥回淨額	(560)	(378)
(Reversal of impairment losses)/impairment	已確認預付款項及其他
losses recognised on prepayments and	應收款項(減值虧損撥回)╱
other receivables, net	減值虧損淨額	(34,390)	11,987

For the year ended 30 June 2024 截至二零二四年六月三十日止年度

11. EMPLOYEE BENEFITS EXPENSES

11. 僱員福利開支

		2024 二零二四年 HK\$'000 千港元	2023 二零二三年 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	2,118	5,426
contributions		299	970
		2,417	6,396

Five highest paid individuals

The five highest paid individuals in the Group during the year included three directors (2023: one director) whose emoluments is reflected in the analysis presented in note 12. The emoluments of the two individuals (2023: 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 包括三名董事(二零二三年:一名董事), 其薪酬已反映於附註12呈列的分析內。 該等兩名(二零二三年:四名)人士之薪 酬載列如下:

		2024 二零二四年 HK\$'000 千港元	2023 二零二三年 HK\$'000 千港元
Salaries, bonuses and allowances Retirement benefit scheme contributions	薪金、花紅及津貼 退休福利計劃供款	902 123	1,338 407
		1,025	1,745

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
		2024 二零二四年	2023 二零二三年
Nil–HK\$1,000,000	零至1,000,000港元	2	4

During the years ended 30 June 2024 and 2023, 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 四 年 及 二 零 二 三 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 2024 截至二零二四年六月三十日止年度

1. 董事福利及權益

12. BENEFITS AND INTERESTS OF DIRECTORS

(a) Directors' and Chief Executive Officer ("CEO") emoluments

(a) 董事及行政總裁(「行政總裁」)酬 金

The remuneration of each director is set out below:

各董事的酬金載列如下:

		Director's fee	Salaries and allowances	Employer's contribution to a retirement benefit scheme	Total
		董事袍金 HK\$'000	薪金及津貼 HK\$'000	僱主退休福利 計劃供款 HK\$'000	總計 HK\$'000
		千港元	千港元	千港元	千港元
Year ended 30 June 2024	截至二零二四年 六月三十日止年度
Executive Directors Mr. Zeng Jin (note 1) Mr. Gan Xiaohua (note 6) Ms. Tian Yuan Ms. Liu Qin (note 2) Mr. Zhu Yongjun (note 3)	執行董事 曾金先生(附註1) 甘曉華先生(附註6) 田園女士 劉芹女士(附註2) 朱勇軍先生(附註3)	– – – – –	2 66 – – –	2 10 – – –	4 76 – – –
Independent Non-Executive Directors	獨立非執行董事
Mr. Chen Ce Ms. Jiang Ying Mr. Lam, Anthony Tze Cheung (note 4) 林子翔先生(附註4) Ms. Zhu Minli (note 5)	陳策先生 江穎女士 朱敏麗女士(附註5)	150 150 60 90	– – – –	– – – –	150 150 60 90
Total for year ended 30 June 2024	截至二零二四年六月 三十日止年度總計	450	68	12	530
Year ended 30 June 2023	截至二零二三年 六月三十日止年度
Executive Directors Mr. Zhu Yongjun Mr. Gan Xiaohua (note 6) Ms. Tian Yuan	執行董事 朱勇軍先生 甘曉華先生(附註6) 田園女士	600 – –	124 81 –	27 11 –	751 92 –
Independent Non-Executive Directors	獨立非執行董事
Mr. Chen Ce Ms. Zhu Minli Ms. Jiang Ying	陳策先生 朱敏麗女士 江穎女士	180 180 180	– – –	– – –	180 180 180
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

For the year ended 30 June 2024 截至二零二四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)

• Note 1: Mr. Zeng Jin was appointed as an executive director with effect from 4 June 2024.
• Note 2: Ms. Liu Qin was appointed as executive director with effect from 4 June 2024.
• Note 3: Mr. Zhu Yongjun retired as executive director with effect from 16 November 2023, and waived his emoluments of HK\$200,000 for the year ended 30 June 2024.
• Note 4: Mr. Lam, Anthony Tze Cheung was appointed as an independent non-executive director with effect from 11 January 2024.
• Note 5: Ms. Zhu Minli resigned as an independent non-executive director with effect from 11 January 2024.
• Note 6: Mr. Gan Xiaohua was appointed as an executive director with effect from 25 July 2022.

During the year ended 30 June 2024, 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 (2023: Nil).

There was no arrangement under which a director and the CEO waived or agreed to waive any remuneration during the year ended 30 June 2023.

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 ended 30 June 2024 (2023: Nil).

1. 董事福利及權益(續)

(a)		董事及行政總裁(「行政總裁」)酬
	金(續)
	附註1:	曾金先生獲委任為執行董事,自 二零二四年六月四日起生效。
	附註2:	劉芹女士獲委任為執行董事,自 二零二四年六月四日起生效。
	附註3:	朱勇軍先生退任執行董事,自二 零二三年十一月十六日起生效, 並 放 棄 彼 截 至 二 零 二 四 年 六 月 三十日止年度之薪酬200,000港元。
	附註4:	林子翔先生獲委任為獨立非執行 董事,自二零二四年一月十一日 起生效。
	附註5:	朱敏麗女士辭任獨立非執行董事, 自二零二四年一月十一日起生效。
	附註6:	甘曉華先生獲委任為執行董事, 自二零二二年七月二十五日起生效。
		於截至二零二四年六月三十日止年 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 (二零二三年:無)。
		於截至二零二三年六月三十日止年 度,概無董事及行政總裁放棄或同 意放棄任何薪酬之安排。

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

本公司於年結時或截至二零二四年六 月三十日止年度內任何時間,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(二零二三年:無)。

For the year ended 30 June 2024 截至二零二四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 ended 30 June 2024, nor has any dividend been proposed since the end of the reporting period (2023: Nil).

14. EARNINGS/(LOSS) PER SHARE

shares in issue for both years.

The calculation of the basic earnings/(loss) per share is based on the following data:

13. 股息

截至二零二四年六月三十日止年度,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(二零二三年:無)。

14. 每股盈利╱(虧損)

每股基本盈利╱(虧損)乃根據下列數據 計算:

		2024 二零二四年 HK\$'000 千港元	2023 二零二三年 HK\$'000 千港元
Profit/(loss) for the purpose of calculating basic earnings/(loss) per share	用於計算每股基本盈利╱ (虧損)之溢利╱(虧損)
Profit/(loss) for the year attributable to owners of the Company	本公司擁有人應佔年內 溢利╱(虧損)	17,535	(29,991)
		2024 二零二四年 HK\$'000 千港元	2023 二零二三年 HK\$'000 千港元
Weighted average number of ordinary shares for the purpose of calculating basic earnings/(loss) per share	用於計算每股基本盈利╱(虧損) 之普通股加權平均數	573,596	491,726
No diluted earnings per share for the year ended 30 June 2024 and diluted loss per share for the year ended 30 June 2023 are presented as there were no potential ordinary		由於本公司於截至二零二四年六月三十 日止年度及截至二零二三年六月三十日 止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盈利及每

股攤薄虧損。

For the year ended 30 June 2024 截至二零二四年六月三十日止年度

15. PROPERTY, PLANT AND EQUIPMENT

1. 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	成本
At 1 July 2022	於二零二二年七月一日	1,442	1,226	15,119	405	18,192
Additions	添置	–	–	2,426	–	2,426
Disposals	出售	(1,345)	(736)	–	–	(2,081)
Transfer to assets classified as	轉撥至分類為持作出售之
held-for-sale (note 22)	資產(附註22)	–	(96)	(7,128)	–	(7,224)
Exchange differences	匯兌差額	(97)	(52)	(101)	–	(250)
At 30 June 2023 and 1 July 2023	於二零二三年六月三十日及
	二零二三年七月一日	–	342	10,316	405	11,063
Disposals	出售	–	(251)	–	(405)	(656)
Disposal of subsidiaries (note 31)	出售附屬公司(附註31)	–	–	(2,302)	–	(2,302)
Exchange differences	匯兌差額	–	–	37	–	37
At 30 June 2024	於二零二四年六月三十日	–	91	8,051	–	8,142
Accumulated depreciation and impairment	累計折舊及減值
At 1 July 2022	於二零二二年七月一日	1,211	1,212	10,624	405	13,452
Depreciation charge for the year	年內折舊費用	128	4	1,860	–	1,992
Eliminated on disposals	於出售時對銷	(1,256)	(736)	–	–	(1,992)
Transferred to assets classified as	轉撥至分類為持作出售之
held-for-sale (note 22)	資產(附註22)	–	(96)	(4,532)	–	(4,628)
Exchange differences	匯兌差額	(83)	(51)	(11)	–	(145)
At 30 June 2023 and 1 July 2023	於二零二三年六月三十日及 二零二三年七月一日	–	333	7,941	405	8,679
Depreciation charge for the year	年內折舊費用	–	3	937	–	940
Eliminated on disposals	於出售時對銷	–	(251)	–	(405)	(656)
Disposal of subsidiaries (note 31)	出售附屬公司(附註31)	–	–	(831)	–	(831)
Exchange differences	匯兌差額	–	–	4	–	4
At 30 June 2024	於二零二四年六月三十日	–	85	8,051	–	8,136
Carrying amount At 30 June 2024	賬面值 於二零二四年六月三十日	–	6	–	–	6
At 30 June 2023	於二零二三年六月三十日	–	9	2,375	–	2,384

Notes:

附註:

(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:

(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:

Motor vehicles	10%–30%	汽車	10%至30%
Furniture, fixtures and office equipment	20%–50%	傢俬、裝置及辦公室設備	20%至50%
Machinery and equipment	33%	機器及設備	33%
Leasehold improvements	Over the lease term	租賃物業裝修	按租期

For the year ended 30 June 2024 截至二零二四年六月三十日止年度

16. LEASES

16. 租賃

The Group as lessee

The Group leases office premises and warehouse for its daily operations. As at 30 June 2024, the lease term is less than 12 months (2023: from 21 months to 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.

本集團作為承租人

(a) 使用權資產

本集團為日常營運租賃辦公場所及倉庫。 於二零二四年六月三十日,租賃期限為 12個月內(二零二三年:21至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。

(a) Right-of-use assets

2024 2023 二零二四年 二零二三年 HK\$'000 HK\$'000 千港元 千港元 At 1 July 於七月一日 208 469 Additions 添置 – 486 Depreciation 折舊 (128) (568) Disposal of subsidiaries (note 31) 出售附屬公司(附註31) (83) – Transferred to assets classified as held-for-sale (note 22) 轉撥至分類為持作出售之 資產(附註22) – (174) Exchange differences 匯兌差額 3 (5) At 30 June 於六月三十日 – 208

(b) Lease liabilities

(b) 租賃負債

		2024 二零二四年 HK\$'000 千港元	2023 二零二三年 HK\$'000 千港元
At 1 July New leases Interest on lease liabilities Payments Disposal of subsidiaries (note 31) Transferred to liabilities associated with assets classified as held-for-sale (note 22) Exchange realignment	於七月一日 新租賃 租賃負債利息 付款 出售附屬公司(附註31) 轉撥至與分類為持作出售之 資產有關之負債(附註22) 匯兌調整	282 – 3 (205) (84) – 4	463 486 25 (515) – (177) –
At 30 June	於六月三十日	–	282
Analysed into: Current portion Non-current portion	分析為: 即期部分 非即期部分	– –	240 42

For the year ended 30 June 2024 截至二零二四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 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 business. The goodwill arising on the acquisition of Dongrun Hudong is attributable to the anticipated profitability of internet advertising 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業 務之潛力。源自收購東潤互動之商譽歸 屬於互聯網廣告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 2024 截至二零二四年六月三十日止年度

18. TRADE RECEIVABLES

18. 貿易應收款項

		2024 二零二四年 HK\$'000 千港元	2023 二零二三年 HK\$'000 千港元
Trade receivables	貿易應收款項	7,746	58,238
Less: Allowance for impairment loss (Note 30)	減:減值虧損撥備(附註30)	(2,091)	(22,879)

The Group's trading terms with customers are mainly on credit. The Group generally allows a credit period of not more than 60 days for its internet advertising 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服務業務 客戶不超過60天的信貸期。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。

5,655 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,因此存在信貸集中 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:

		2024 二零二四年 HK\$'000 千港元	2023 二零二三年 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	3	2,397
91 to 180 days	91至180天	846	25,580
181 to 365 days	181至365天	4,806	–
		5,655	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 2024 截至二零二四年六月三十日止年度

19. PREPAYMENTS AND OTHER RECEIVABLES

19. 預付款項及其他應收款項

		Note 附註	2024 二零二四年 HK\$'000 千港元	2023 二零二三年 HK\$'000 千港元
Prepayments Loans and interest receivables Income tax receivable Value added tax receivable Consideration receivables Other receivables	預付款項 應收貸款及利息 應收所得稅 應收增值稅 應收代價 其他應收款項	(a) (b) (c) (d)	45,947 2,663 140 984 23,617 63,401	112,278 24,224 – 907 23,374 17,715
Less: Allowance for impairment loss 減:減值虧損撥備			136,752 (49,446)	178,498 (95,964)
			87,306	82,534

Details of impairment assessment of prepayment and other receivables are set out in note 30.

Notes:

(a) Included in prepayments are payments in advance to suppliers amounted to approximately HK\$45,947,000 (2023: HK\$112,278,000) for service costs mainly to be incurred for the Group's advertising 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\$15,122,000 (2023: HK\$61,843,000) on such payments in advance made to those suppliers.

(b) As at 30 June 2024, loans and interest receivables are unsecured, bearing interest with 4.35% per annum (2023: 4.35% per annum) and repayable within one year. Such loan receivables at 30 June 2024 to the extent of approximately HK\$2,357,000 (2023: HK\$22,810,000) remained outstanding, up to the date of approval of these consolidated financial statements, Impairment loss amounted to HK\$159,000 as at 30 June 2024 (2023: HK\$930,000) was recognised on loans and interest receivables based on the assessment of the ECL on such receivables.

有關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業務產生 之服務成本墊付供應商的款項約45,947,000 港元(二零二三年:112,278,000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15,122,000港元(二零二三年: 61,843,000港元)屬適宜。

(b) 於二零二四年六月三十日,應收貸款及利息 為無抵押、按年利率4.35%(二零二三年:年 利率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,於二零二四年六 月三十日之應收貸款中約2,357,000港元(二 零二三年:22,810,000港元)仍為未償還,於 二零二四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159,000港元(二零二三年:930,000港 元)。

For the year ended 30 June 2024 截至二零二四年六月三十日止年度

19. PREPAYMENTS AND OTHER RECEIVABLES (continued)

Notes: (continued)

• (c) As at 30 June 2024, the consideration receivables for the disposal of the Group's machineries and equipment amounted to approximately HK\$23,617,000 (2023: HK\$23,374,000) remained outstanding. Such consideration receivables are unsecured, interest free and repayable on demand. In view of the uncertainty of financial position of the buyers and the receivable has been overdue, management considered it appropriate to recognise impairment loss in full of HK\$23,617,000 as at 30 June 2024 (2023: HK\$23,374,000).
• (d) Included in other receivables are advance payment of HK\$5,478,000 (2023: HK\$5,392,000) 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\$5,478,000 was recognised as at 30 June 2024 (2023: HK\$5,392,000).

20. CRYPTOCURRENCY

The cryptocurrencies held at the end of the reporting period consist of the following:

19. 預付款項及其他應收款項(續)

附註:(續)

• (c) 於二零二四年六月三十日,出售本集團機器 及設備之應收代價約為23,617,000港元(二零 二三年:23,374,000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 於買方的財務狀況存在不確定性及應收款項 已逾期,管理層認為於二零二四年六月三十 日確認全數減值虧損23,617,000港元(二零 二三年:23,374,000港元)屬適當。
• (d) 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5,478,000港元(二 零二三年:5,392,000港元)。鑒於承包商的 財務狀況存在不確定性,於二零二四年六月 三十日確認該應收款項的減值虧損5,478,000 港元(二零二三年:5,392,000港元)。

20. 加密貨幣

於報告期末所持加密貨幣包括以下各項:

		2024 二零二四年 HK\$'000 千港元	2023 二零二三年 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 2024 截至二零二四年六月三十日止年度

21. PLEDGED BANK DEPOSITS/RESTRICTED BANK DEPOSIT AND BANK BALANCES AND CASH

(a) Pledged bank deposits

As at 30 June 2024, no bank deposits (2023: HK\$25,882,000) was pledged as security for bills payables. As at 30 June 2023, the pledged deposits carried fixed interest rate at 2.05% per annum.

(b) Bank balances and cash

21. 已抵押銀行存款╱受限制銀行存款 以及銀行結餘及現金

(a) 已抵押銀行存款

於二零二四年六月三十日,概無銀 行存款(二零二三年:25,882,000港 元)被質押作為應付票據之抵押。 於二零二三年六月三十日,已抵押 存款按每年2.05%之固定利率計息。

(b) 銀行結餘及現金

		2024 二零二四年 HK\$'000 千港元	2023 二零二三年 HK\$'000 千港元
Bank balances and cash Less: restricted bank deposit	銀行結餘及現金 減:受限制銀行存款	4,247 (101)	4,813 (105)
		4,146	4,708

As at 30 June 2024, the bank balances including pledged bank deposits of the Group denominated in RMB amounted to approximately HK\$1,370,000 (2023: HK\$26,014,000) 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.

於二零二四年六月三十日,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1,370,000港元 (二零二三年:26,014,000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 2024 截至二零二四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., (collectively, the "Right Fortress Group") which were wholly owned subsidiaries of the Group, was entered into at a consideration of HK\$100,000 (the "Disposal of Right Fortress Group"). During the year ended 30 June 2024, the consideration was settled by the purchaser by cash on 21 September 2023 and the Disposal of Right Fortress Group was completed in October 2023 and gain on such disposal of approximately HK\$2,321,000 (2023: Nil) was recognised in other income, gains and losses, net (note 7). The details on the Disposal of Right Fortress Group are disclosed in note 31(b) to these consolidated financial statements.

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(. 統稱為「韋保集團」)的全部已發行股 份,代價為100,000港元(「韋保集團出售 事項」)。截至二零二四年六月三十日止 年度,買方於二零二三年九月二十一日 以現金償付該代價,而韋保集團出售事 項已於二零二三年十月完成,該出售事 項之收益約2,321,000港元(二零二三年: 無)於其他收入、收益及虧損淨額(附註7) 內確認。有關韋保集團出售事項的詳情 於該等綜合財務報表附註31(b)披露。

	2023 二零二三年 HK\$'000 千港元
分類為持作出售之資產	2,596
	174
預付款項及其他應收款項	582
	16
	3,368
與分類為持作出售之
應計費用及其他應付款項	2,562
借貸	2,500
	177
	5,239
	物業、廠房及設備(附註15) 使用權資產(附註16) 銀行結餘及現金 資產有關之負債 租賃負債(附註16)

As at 30 June 2024, no assets and liabilities are classified as held-for-sale.

於二零二四年六月三十日,概無分類為 持作出售之資產及負債。

For the year ended 30 June 2024 截至二零二四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

		2024 二零二四年 HK\$'000 千港元	2023 二零二三年 HK\$'000 千港元
Trade and bills payables	貿易應付款項及應付票據	6,577	44,899

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:

		2024 二零二四年 HK\$'000 千港元	2023 二零二三年 HK\$'000 千港元
0–30 days	0至30日	4	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	6,573	7,393
		6,577	44,899

The normal 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 2024 截至二零二四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

				Note 附註		2024 二零二四年 HK\$'000 千港元	2023 二零二三年 HK\$'000 千港元
	Accruals Contract liabilities Other payables	應計費用 合約負債 其他應付款項		(a)		5,683 321 17,244	8,129 795 28,141
						23,248	37,065
Notes:				附註:
(a)	Contract liabilities			(a)		合約負債
	Contract liabilities represented service income received in advance from customers in connection with the Group's internet advertising services.				合約負債指就本集團互聯網廣告服務自客戶 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。
						2024 二零二四年 HK\$'000 千港元	2023 二零二三年 HK\$'000 千港元
	Revenue recognised that was included in the contract liabilities balance at the beginning		於年初計入合約負債結餘之 已確認收入
	of the year					–	2,618

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 2024 截至二零二四年六月三十日止年度

25. BORROWINGS

1. 借貸

		2024 二零二四年 HK\$'000 千港元	2023 二零二三年 HK\$'000 千港元
Other borrowings	其他借貸	1,856	4,691
Borrowings repayable On demand, and included in current liabilities	借貸償還 按要求,並計入 流動負債	1,856	4,691

As at 30 June 2024, other borrowings comprise amounts due to a third party of HK\$Nil (2023: HK\$3,235,000, unsecured, bearing fixed interest rates with 4.35% per annum) and an entity related to a management personnel of a subsidiary of HK\$1,856,000 (2023: HK\$1,456,000). The amount due to the entity related to a management personnel of a subsidiary is unsecured and interest free.

26. LOANS FROM A SHAREHOLDER AND DIRECTOR/LOAN FROM A SHAREHOLDER/ LOANS FROM DIRECTORS/LOANS FROM AN ULTIMATE BENEFICIAL OWNER

The loans from a shareholder and director (2023: shareholders and directors) are unsecured, bearing fixed interest rates ranged from 0% to 4.35% per annum (2023: 0% to 4.35% per annum), repayable on demand.

The loan from a shareholder is unsecured, interest free (2023: 4.35% per annum) and repayable on demand.

The loans from directors (2023: a director) are unsecured, interest free and repayable on demand.

The loans from an ultimate beneficial owner are unsecured, interest free and repayable on demand.

於二零二四年六月三十日,其他借貸包 括應付一名第三方款項零港元(二零二三 年:3,235,000港元,無抵押、按固定年 利率4.35%計息)及應付一間與一間附屬 公司管理人員有關的實體款項1,856,000 港元(二零二三年:1,456,000港元)。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。

26. 來自一名股東及董事貸款╱來自一 名股東貸款╱來自董事貸款╱來自 一名最終實益擁有人貸款

來自一名股東及董事(二零二三年:股東 及董事)貸款為無抵押、按固定年利率介 乎0%至4.35%(二零二三年:年利率0% 至4.35%)計息及須按要求償還。

來自一名股東貸款為無抵押、免息(二零 二三年:年利率4.35%)及須按要求償還。

來自董事(二零二三年:一名董事)貸款 為無抵押、免息及須按要求償還。

來自一名最終實益擁有人貸款為無抵押、 免息及須按要求償還。

For the year ended 30 June 2024 截至二零二四年六月三十日止年度

27. DEFERRED TAX

No deferred tax asset was recognised in respect of such losses due to the unpredictability of future profit streams of respective group entities. During the year ended 30 June 2024, tax losses of HK\$Nil (2023: HK\$1,519,000) were expired. Included in unrecognised tax losses, there are losses of HK\$34,217,000 (2023: HK\$65,034,000) that will expire in various dates in the next five years.

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 2024 and 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

由於相關集團實體之未來溢利流不可預 測,故並無就有關虧損確認遞延稅項資 產。截至二零二四年六月三十日止年度, 稅項虧損零港元(二零二三年:1,519,000 港元)已到期。未確認稅項虧損包括將於 未 來 五 年 內 不 同 日 期 到 期 的 虧 損 34,217,000港元(二零二三年:65,034,000 港元)。

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 二四年及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 2024 截至二零二四年六月三十日止年度

28. SHARE CAPITAL

1. 股本

		2024 二零二四年 HK\$'000 千港元	2023 二零二三年 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	5,080 1,792	4,880 200
At end of the year	於年末	6,872	5,080

On 17 March 2023, the Company entered into subscription agreements with an independent third party under which the Company has agreed to allot and issue 20,000,000 new shares at the subscription price of 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.

On 15 November 2023, the Company entered into subscription agreements with two independent third parties under which the Company has agreed to allot and issue 77,600,000 new shares at the subscription price HK\$0.12 per share. Completion of the shares subscription took place on 29 December 2023 which gave rise to proceeds of HK\$9,312,000 (before expense) on the issue of 77,600,000 new shares of the Company.

On 11 March 2024, the Company entered into subscription agreements with an independent third party under which the Company has agreed to allot and issue 101,600,000 new shares at the subscription price HK\$0.125 per share. Completion of the shares subscription took place on 28 March 2024 which gave rise to proceeds of HK\$12,700,000 (before expense) on the issue of 101,600,000 new shares of the Company.

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)。

於二零二三年十一月十五日,本公司與 兩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0.12港元配 發及發行77,600,000股新股份。股份認 購已於二零二三年十二月二十九日完成, 發行77,600,000股本公司新股份產生所 得款項9,312,000港元(未扣除開支)。

於二零二四年三月十一日,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0.125港元配發 及發行101,600,000股新股份。股份認購 已於二零二四年三月二十八日完成,發 行101,600,000股本公司新股份產生所得 款項12,700,000港元(未扣除開支)。

For the year ended 30 June 2024 截至二零二四年六月三十日止年度

29. CAPITAL MANAGEMENT

29. 資本管理

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 loans from a shareholder and director, a shareholder, directors and an ultimate beneficial owner and borrowings. Adjusted capital comprises all components of equity.

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 2024, the debt-to-adjusted capital ratio of the Group is 13% (2023: 389%).

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。債務總額包括來自一名股東 及董事、一名股東、董事及一名最終實 益擁有人的貸款及借貸。經調整資本包 括權益之所有部分。

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。

於二零二四年六月三十日,本集團債務 與經調整資本之比率為13%(二零二三 年:389%)。

For the year ended 30 June 2024 截至二零二四年六月三十日止年度

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

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

		2024 二零二四年 HK\$'000 千港元	2023 二零二三年 HK\$'000 千港元
Financial assets Trade receivables	金融資產 貿易應收款項	5,655	35,359
Financial assets included prepayments	計入預付款項及其他
and other receivables	應收款項之金融資產	86,182	80,404
Restricted bank deposits	受限制銀行存款	101	105
Pledged bank deposits	已抵押銀行存款	–	25,882
Bank balances and cash	銀行結餘及現金	4,146	4,708
Financial assets measured at amortised cost	按攤銷成本計量之金融資產	96,084	146,458
Financial liabilities	金融負債
Trade and bills payables	貿易應付款項及應付票據	6,577	44,899
Financial liabilities included in accruals	計入應計費用及其他應付款項
and other payables	之金融負債	22,851	34,383
Loans from a shareholder and director	來自一名股東及董事貸款 來自一名股東貸款	705	30,416
Loan from a shareholder Loans from directors	來自董事貸款	716 219	17,254 157
Loans from an ultimate beneficial owner	來自一名最終實益擁有人貸款	4,508	–
Borrowings	借貸	1,856	4,691
Financial liabilities at amortised cost	按攤銷成本計量之金融負債	37,432	131,800

For the year ended 30 June 2024 截至二零二四年六月三十日止年度

30. FINANCIAL RISK MANAGEMENT (continued)

30. 財務風險管理(續)

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 and US\$ denominated monetary assets and monetary liabilities at the reporting date are as follows:

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。

本集團以人民幣及美元計值之貨幣資產 及貨幣負債於報告日期之賬面值如下:

	Assets 資產			Liabilities 負債
	2024	2023	2024	2023
	二零二四年	二零二三年	二零二四年	二零二三年
	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	81,995	132,066	14,894	101,874
Functional currency as US\$ against HK\$ 功能貨幣為美元兌港元	8,376	4,580	6,727	–

For the year ended 30 June 2024 截至二零二四年六月三十日止年度

30. FINANCIAL RISK MANAGEMENT (continued)

Foreign currency risk (continued)

The following table details the Group's sensitivity to a 5% (2023: 5%) increase/decrease in RMB against HK\$. 5% (2023: 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 receivables, prepayments and other receivables, trade and bills payables, accruals and other payables, loans from a shareholder and director, a shareholder, directors, and an ultimate beneficial owner, borrowings, and bank balances and cash where the denomination are in RMB, the major foreign currency risks.

A positive number indicates an increase in profit or a decrease in loss for the year where RMB strengthens against HK\$. For a 5% weakens of RMB against HK\$, there would be an equal and opposite impact on the post-tax profit/(loss) for the year, and the balances below would be negative.

30. 財務風險管理(續)

外幣風險(續)

下表詳列本集團於人民幣兌港元升值╱貶 值5%(二零二三年:5%)時的敏感度。 5%(二零二三年: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應 收款項、預付款項及其他應收款項、貿 易應付款項及應付票據、應計費用及其 他應付款項、來自一名股東及董事、一 名股東、董事及一名最終實益擁有人的 貸款、借貸以及銀行結餘及現金。

正數表示人民幣兌港元升值時之年內溢 利增加或虧損減少。對於人民幣兌港元 貶值5%,其對年內除稅後溢利╱(虧損) 將有對等之相反影響,而下列結餘將為 負數。

	2024 二零二四年 HK\$'000 千港元	2023 二零二三年 HK\$'000 千港元
年內除稅後溢利╱(虧損) Increase/(decrease) in post-tax profit/(loss) 增加╱(減少) for the year	2,516	1,261
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

In the opinion of the management, the sensitivity analysis is unrepresentative of the inherent foreign exchange risk as the year end exposure does not reflect the exposure during the year.

映年內風險,故敏感度分析不代表固有 外匯風險。

For the year ended 30 June 2024 截至二零二四年六月三十日止年度

30. FINANCIAL RISK MANAGEMENT (continued)

30. 財務風險管理(續)

Credit risk

The Group's credit risk is primarily attributable to trade receivables, 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 max imum exposure as at 30 June 2024, management monitored the creditworthiness and payment patterns of each debtor closely and on an ongoing basis.

At 30 June 2024, the Group had concentrations of credit risk as 76% (2023: 45%) of the total trade receivables were due from the Group's largest external customer and 86% (2023: 73%) 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 2024 and 2023.

The amount presented are gross carrying amounts for financial assets.

信貸風險

本集團的信貸風險主要來自貿易應收款 項、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。

就截至二零二四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。

於二零二四年六月三十日,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76%(二零二三年:45%)來 自本集團的最大外部客戶,而貿易應收 款項總額中的86%(二零二三年:73%) 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),以及於二零二四年 及二零二三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。

For the year ended 30 June 2024 截至二零二四年六月三十日止年度

30. FINANCIAL RISK MANAGEMENT (continued)

Credit risk (continued)

Maximum exposure and year-end staging (continued)

As at 30 June 2024

	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
貿易應收款項 Trade receivables 計入預付款項及其他應收 Financial assets included in	–	–	1,081	6,665	7,746
款項的金融資產 prepayment and other receivables	93,533	–	42,095	–	135,628
受限制銀行存款 Restricted bank deposits	101	–	–	–	101
銀行結餘及現金 Bank balances and cash	4,146	–	–	–	4,146
	97,780	–	43,176	6,665	147,621

As at 30 June 2023

於二零二三年六月三十日

		12-month ECLs	Lifetime ECLs
		12個月預期 信貸虧損		全期預期信貸虧損
					Simplified
		Stage 1	Stage 2	Stage 3	approach
		第1階段 HK\$'000	第2階段 HK\$'000	第3階段 HK\$'000	簡化法 HK\$'000	HK\$'000
		千港元	千港元	千港元	千港元	千港元
Trade receivables	貿易應收款項	–	–	22,077	36,161	58,238
Financial assets included in	計入預付款項及其他應收
prepayment and other receivables	款項的金融資產	61,895	61,460	53,013	–	176,368
Restricted bank deposits	受限制銀行存款	105	–	–	–	105
Pledged bank deposits	已抵押銀行存款	25,882	–	–	–	25,882
Bank balances and cash	銀行結餘及現金	4,708	–	–	–	4,708
		92,590	61,460	75,090	36,161	265,301

30.	財務風險管理(續)
	信貸風險(續)
	最大風險及年末階段(續)
	於二零二四年六月三十日

For the year ended 30 June 2024 截至二零二四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)

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.

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 2024 and 2023:

信貸風險(續)

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。

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二零二四年及二 零二三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 2024	於二零二四年六月三十日
Not past due	未逾期	–	–	–
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	3.91%	354	14
91–180 days past due	逾期91至180日	3.91%	5,531	216
181–365 days past due	逾期181至365日	100%	780	780
More than 365 days past due	逾期365日以上	100%	1,081	1,081
			7,746	2,091

For the year ended 30 June 2024 截至二零二四年六月三十日止年度

30. FINANCIAL RISK MANAGEMENT (continued)

1. 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)

		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

During the year ended 30 June 2024, with reference to the assessment performed by Ravia Global Appraisal Advisory Limited, the management of the Company reassessed and updated the average expected loss rates based on the forward-looking information available to the Company.

於截至二零二四年六月三十日止年度, 經參考瑞豐環球評估諮詢有限公司進行 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。

For the year ended 30 June 2024 截至二零二四年六月三十日止年度

30.	FINANCIAL RISK MANAGEMENT 30. (continued)	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)
	The movements in the loss allowance account in respect of

The movements in the loss allowance account in respect of trade receivables for the years ended 30 June 2024 and 2023 are as follows:

截至二零二四年及二零二三年六月三十 日止年度,有關貿易應收款項之虧損撥 備賬變動如下:

		Lifetime ECL (not credit impaired) 全期預期 信貸虧損 (無信貸減值) HK\$'000 千港元	Lifetime ECL (credit impaired) 全期預期 信貸虧損 (信貸減值) HK\$'000 千港元	Total 總計 HK\$'000 千港元
At 1 July 2022	於二零二二年七月一日	–	23,257	23,257
Increased during the year	年內增加	802	5,682	6,484
Reversal of impairment	年內之減值虧損撥回
losses during the year		–	(6,863)	(6,863)
Exchange differences	匯兌差額	–	1	1
At 30 June 2023 and 1 July 2023	於二零二三年六月三十日及
	二零二三年七月一日	802	22,077	22,879
Increased during the year	年內增加	716	–	716
Reversal of impairment losses	年內之減值虧損撥回
during the year		(507)	(769)	(1,276)
Written off during the year	年內撇銷	–	(20,386)	(20,386)
Disposal of subsidiaries (note 31)	出售附屬公司(附註31) 匯兌差額	(1)	–	(1)
Exchange differences		–	159	159
At 30 June 2024	於二零二四年六月三十日	1,010	1,081	2,091

The Group writes off a trade receivable 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 debtor has been placed under liquidation or has entered into bankruptcy proceedings, or when the trade receivables are over two years past due, whichever occurs earlier.

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(例如債務人已進行清 算或已進入破產程序)或貿易應收款項逾 期超過兩年(以較早發生者為準),本集 團會撇銷貿易應收款項。

For the year ended 30 June 2024 截至二零二四年六月三十日止年度

30. FINANCIAL RISK MANAGEMENT (continued)

Credit risk (continued)

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 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 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 prepayments and other receivables for the years ended 30 June 2024 and 2023 are as follows:

30. 財務風險管理(續)

信貸風險(續)

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。

截至二零二四年及二零二三年六月三十 日止年度,有關預付款項及其他應收款 項之虧損撥備變動如下:

		12-month ECL 12個月預期 信貸虧損 HK\$'000 千港元	Lifetime ECL (not credit impaired) 全期預期 信貸虧損 (無信貸減值) HK\$'000 千港元	Liftime ECL (credit impaired) 全期預期 信貸虧損 (信貸減值) HK\$'000 千港元	Total 總計 HK\$'000 千港元
At 1 July 2022 Increased during the year Reversal of impairment losses during	於二零二二年七月一日 年內增加 年內之減值虧損撥回	590 11,441	46,316 (8,562)	37,094 18,456	84,000 21,335
the year Transfer to assets classified as held-for-sale (note 22) Exchange differences	轉撥至分類為持作出售之資產 (附註22) 匯兌差額	(6,752) (22) (60)	– – –	(2,596) – 59	(9,348) (22) (1)
At 30 June 2023 and 1 July 2023 Increased during the year Reversal of impairment losses during the year Written off during the year Disposal of subsidiaries (note 31) Exchange differences	於二零二三年六月三十日及 二零二三年七月一日 年內增加 年內之減值虧損撥回 年內撇銷 出售附屬公司(附註31) 匯兌差額	5,197 4,223 (1,023) (1,008) (79) 41	37,754 – (37,754) – – –	53,013 164 – (11,428) – 346	95,964 4,387 (38,777) (12,436) (79) 387
At 30 June 2024	於二零二四年六月三十日	7,351	–	42,095	49,446

For the year ended 30 June 2024 截至二零二四年六月三十日止年度

30. FINANCIAL RISK MANAGEMENT (continued)

Liquidity risk

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 in the short and longer term.

The maturity analysis based on contractual undiscounted cash flows of the Group's non-derivative financial liabilities is as follows:

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。

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	Carrying amount 賬面值 HK\$'000 千港元
30 June 2024	二零二四年六月三十日
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 Loans from a director Loans from an ultimate beneficial	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 來自一名最終實益擁有人	N/A不適用 N/A不適用 4.05% – N/A不適用	6,577 22,851 729 716 219	– – – – –	– – – – –	6,577 22,851 729 716 219	6,577 22,851 705 716 219
owner Borrowings	貸款 借貸	N/A不適用 N/A不適用	4,508 1,856	– –	– –	4,508 1,856	4,508 1,856
			37,456	–	–	37,456	37,432
Lease liabilities	租賃負債	N/A不適用	–	–	–	–	–
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

For the year ended 30 June 2024 截至二零二四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 2024 截至二零二四年六月三十日止年度

31. DISPOSAL OF SUBSIDIARIES

31. 出售附屬公司

(a) Disposal of Zhejiang Junjing Group

During the six months ended 30 June 2024, the Group disposed of all equity interest in JunJing Business Management (Zhejiang) Co., Ltd. (雋景商業管理(浙 江)有限公司) ("Zhejiang Junjing") to an independent third party ("Transferee") at an consideration of HK\$7.80 (equivalent to US\$1.00), resulting in the loss of control in Zhejiang JunJing and its subsidiaries (collectively, "Zhejiang Junjing Group") upon the completion of the transaction. Zhejiang Junjing Group are engaged in the provision of corporate advisory services in the PRC. The disposal was completed on 8 January 2024.

(a) 出售浙江雋景集團

於截至二零二四年六月三十日止六 個月,本集團出售雋景商業管理(浙 江)有限公司(「浙江雋景」)的全部 股 權 予 一 名 獨 立 第 三 方(「受 讓 方」),代價為7.80港元(相當於1.00 美元),導致於交易完成後失去對 浙江雋景及其附屬公司(統稱為「浙 江雋景集團」)的控制權。浙江雋景 集團於中國從事提供企業諮詢服務。 該出售事項已於二零二四年一月八 日完成。

		HK\$'000 千港元
Assets and liabilities disposed at the date of loss of control of Zhejiang Junjing Group:	於失去對浙江雋景集團控制權日期所 出售的資產及負債:
Property, plant and equipment	物業、廠房及設備	1,471
Right-of-use asset	使用權資產	83
Inventories	存貨	2
Trade receivables	貿易應收款項	4
Prepayments and other receivables	預付款項及其他應收款項	2,478
Amounts due from certain subsidiaries	應收本公司若干附屬公司款項
of the Company		94
Bank balances and cash	銀行結餘及現金	706
Restricted bank deposits	受限制銀行存款	2
Trade payables	貿易應付款項	(138)
Accruals and other payables	應計費用及其他應付款項	(2,993)
Amounts due to certain subsidiaries	應付本公司若干附屬公司款項
of the Company		(7,223)
Loans from a shareholder and director	來自一名股東及董事貸款	(980)
Loan from a director	來自一名董事貸款	(784)
Lease liabilities	租賃負債	(84)

Total deficit 虧絀總額 (7,362)

For the year ended 30 June 2024 截至二零二四年六月三十日止年度

31. DISPOSAL OF SUBSIDIARIES (continued)

1. 出售附屬公司(續)

(a) Disposal of Zhejiang Junjing Group (continued)

(a) 出售浙江雋景集團(續)

			HK\$'000 千港元
Gain on disposal of Zhejiang Junjing Group: Consideration receivable Add: cumulative translation reserve of the Zhejiang Junjing Group reclassified from equity to profit or loss on loss of control of	出售浙江雋景集團之收益: 應收代價 浙江雋景集團累計匯兌儲備	加:在失去對浙江雋景集團的控制 權時從權益重新分類至損益之	–*
Zhejiang Junjing Group Less: total deficit disposed of	減:已出售之虧絀總額		94 7,362
			7,456
Add: loss on the receivables from Zhejiang Junjing Group transferred (note)	之虧損(附註)	加:已轉讓之應收浙江雋景集團款項	(5,805)
Gain on disposal	出售之收益		1,651
* The amount was less than HKD1,000.		金額少於1,000港元。 *
Note: Pursuant to the transfer agreement between the Group and the Transferee, the Group transferred the receivables from Zhejiang Junjing Group to the Transferee, amounting to HK\$5,805,000. The loss on the receivables transferred was deemed as part of the gain on disposal of Zhejiang Junjing Group.		附註:根據本集團與受讓方之間的轉讓協議, 本 集 團 將 應 收 浙 江 雋 景 集 團 的 款 項 5,805,000港元轉讓予受讓方。所轉讓 的應收款項的虧損被視作出售浙江雋 景集團的收益之一部分。
The gain on disposal of Zhejiang Junjing Group is included in the "other income, gains and losses, net" line item in profit or loss (note 7).		出售浙江雋景集團的收益乃計入損 益的「其他收入、收益及虧損淨額」 項目(附註7)。
			HK\$'000 千港元
Net cash outflow arising on disposal: Bank balances and cash disposed of	出售所產生的現金流出淨額︰ 已出售的銀行結餘及現金		(706)

For the year ended 30 June 2024 截至二零二四年六月三十日止年度

	DISPOSAL OF SUBSIDIARIES (continued)	31.	出售附屬公司(續)
(b)	Disposal of Right Fortress Group	(b)	出售韋保集團
	As disclosed in note 22 to these consolidated financial statements, Disposal of Right Fortress Group was completed in October 2023. Right Fortress Group is engaged in digital assets business.		誠如該等綜合財務報表附註22所披 露,韋 保 集 團 出 售 二三年十月完成。韋保集團從事數 字資產業務。	事 項 已 於 二 零
	The net assets of Right Fortress Group at the date of disposal were as follows:		韋保集團於出售日期之資產淨值如 下:
				HK\$'000 千港元
	Assets and liabilities disposed at the date of loss of control of Right Fortress Group:	的資產及負債:	於失去對韋保集團控制權日期所出售
	Property, plant and equipment	物業、廠房及設備		2,596
	Right-of-use asset	使用權資產		174
	Prepayments and other receivables	預付款項及其他應收款項		582
	Bank balances and cash	銀行結餘及現金		16
	Accruals and other payables	應計費用及其他應付款項		(2,584)
	Amounts due to certain subsidiaries of	應付本公司若干附屬公司款項
	the Company Borrowings	借貸		(6,441) (2,500)
	Lease liabilities	租賃負債		(177)
	Total deficit	虧絀總額		(8,334)
				HK\$'000 千港元
	Gain on disposal of Right Fortress Group:	出售韋保集團之收益:
	Cash consideration	現金代價		100
	Add: cumulative translation reserve of the Right	加:在失去對韋保集團的控制權時
	Fortress Group reclassified from equity to		從權益重新分類至損益之
	profit or loss on loss of control of Right	韋保集團累計匯兌儲備
	Fortress Group			(6,113)
	Less: total deficit disposed of	減:已出售之虧絀總額		8,334

Gain on disposal 出售之收益 2,321

For the year ended 30 June 2024 截至二零二四年六月三十日止年度

31. DISPOSAL OF SUBSIDIARIES (continued)

(b) Disposal of Right Fortress Group (continued)

The gain on disposal of Right Fortress Group is included in the "other income, gains and losses, net" line item in profit or loss (note 7).

1. 出售附屬公司(續)

(b) 出售韋保集團(續)

出售韋保集團的收益乃計入損益的 「其他收入、收益及虧損淨額」項目 (附註7)。

84

		HK\$'000 千港元
Net cash inflow arising on disposal: Consideration received Bank balances and cash disposed of	出售所產生的現金流入淨額: 已收取代價 已出售的銀行結餘及現金	100 (16)

(c) Disposal of Million Stars SZ Group

On 14 June 2024, Shenzhen Shengshi Penglong Technology Co., Ltd. (深圳盛世鵬龍科技有限公司), an indirectly wholly-owned subsidiary of the Company, entered into an equity transfer agreement pursuant to which it disposed its 51% equity interest in Million Stars Holdings (Shenzhen) Group Limited ("Million Stars SZ"), to an entity that is 100% controlled by Mr. Chen Xiaobing ("Mr. Chen"), at a nominal consideration of HK\$1.10 (equivalent to RMB1.00), resulting in the loss of control in Million Stars SZ and its subsidiaries (collectively, "Million Stars SZ Group") upon the completion of the transaction (the "Disposal of Million Stars SZ Group"). The Disposal of Million Stars SZ Group was completed on 17 June 2024.

As Mr. Chen is the legal representative and a director of Million Stars SZ, it is a connected person at subsidiary level of the Company pursuant to Chapter 20 of the Rules Governing the Listing of Securities on GEM of The Stock Exchange of Hong Kong Limited (the "GEM Listing Rules") and hence the Disposal of Million Stars SZ Group constitutes a connected transaction under Chapter 20 of the GEM Listing Rules.

Given that Million Stars SZ Group has not commenced any business operation, the directors of the Company consider that the Disposal of Million Stars SZ Group has no material impact on the Group's financial performance and positions for the year ended 30 June 2024.

(c) 出售萬星深圳集團

於二零二四年六月十四日,本公司 間接全資附屬公司深圳盛世鵬龍科 技有限公司訂立股權轉讓協議,據 此,該公司將其於萬星控股(深圳) 集團有限公司(「萬星深圳」)的51% 股權出售予一間由陳小兵先生(「陳 先生」)100%控股的實體,名義代 價為1.10港元(相當於人民幣1.00 元),導致在交易(「萬星深圳集團 出售事項」)完成後失去對萬星深圳 及其附屬公司(統稱為「萬星深圳集 團」)的控股權。萬星深圳集團出售 事項已於二零二四年六月十七日完 成。

由於陳先生為萬星深圳的法定代表 及董事,根據香港聯合交易所有限 公司GEM證券上市規則(「GEM上市 規則」)第20章,其為本公司附屬公 司 層 面 的 關 連 人 士,因 此,根 據 GEM上市規則第20章,萬星深圳集 團出售事項構成一項關連交易。

鑒於萬星深圳集團並未開展任何業 務營運,本公司董事認為,萬星深 圳集團出售事項對本集團截至二零 二四年六月三十日止年度的財務表 現及狀況並無重大影響。

For the year ended 30 June 2024 截至二零二四年六月三十日止年度

32. STATEMENT OF FINANCIAL POSITION AND RESERVES MOVEMENTS OF THE COMPANY

32. 本公司財務狀況表及儲備變動

		2024 二零二四年 HK\$'000 千港元	2023 二零二三年 HK\$'000 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 Prepayments and other receivables Amounts due from subsidiaries Bank balances and cash	流動資產 預付款項及其他應收款項 應收附屬公司款項 銀行結餘及現金	1 – 2	1 – 28
		3	29
Current liabilities Accruals and other payables Amounts due to subsidiaries A borrowing A loan from a shareholder and director Loan from a director	流動負債 應計費用及其他應付款項 應付附屬公司款項 借貸 來自一名股東及董事貸款 來自一名董事貸款	10,900 46,218 500 157 21	9,951 45,350 500 55 –
		57,796	55,856
Net current liabilities	流動負債淨值	(57,793)	(55,827)
NET LIABILITIES	負債淨值	(57,792)	(55,826)
Capital and reserves Share capital Reserves	資本及儲備 股本 儲備	6,872 (64,664)	5,080 (60,906)
TOTAL DEFICIT	虧絀總額	(57,792)	(55,826)

The Company's statement of financial position was approved by the board of directors on 26 September 2024 and are signed on its behalf by:

本 公 司 財 務 狀 況 表 已 由 董 事 會 於 二 零 二四年九月二十六日批准並由下列董事 代表簽署:

Zeng Jin TIAN Yuan Director Director

曾金 田園 董事 董事

For the year ended 30 June 2024 截至二零二四年六月三十日止年度

32. STATEMENT OF FINANCIAL POSITION AND RESERVES MOVEMENTS OF THE COMPANY (continued)

1. 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 2022 Loss for the year Issue of shares (note 28)	於二零二二年七月一日 年內虧損 發行股份(附註28)	60,902 – 2,800	(117,400) (7,208) –	(56,498) (7,208) 2,800
At 30 June 2023 and 1 July 2023 Loss for the year	於二零二三年六月三十日及 二零二三年七月一日 年內虧損	63,702 –	(124,608) (23,978)	(60,906) (23,978)
Issue of shares (note 28)	發行股份(附註28)	20,220	–	20,220
At 30 June 2024	於二零二四年六月三十日	83,922	(148,586)	(64,664)

33. SHARE OPTION SCHEME

33. 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 2024 截至二零二四年六月三十日止年度

33. 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.

33. 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 2024 截至二零二四年六月三十日止年度

33. 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 2024, no share option has been granted, expired, lapsed, exercised or cancelled.

33. 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二零二四年 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 2024 截至二零二四年六月三十日止年度

34. 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 2024, the total contribution charged to profit or loss amounted to HK\$299,000 (2023: HK\$970,000).

35. NOTES TO THE CONSOLIDATED STATEMENT OF CASH FLOWS

(a) Non-cash transaction

During the year ended 30 June 2024, the Group had no addition of right-of-use assets (2023: HK\$486,000).

During the year ended 30 June 2024, the Group entered into an agreement with a shareholder and a third-party borrower ("Borrower"), pursuant to which the Group had offset the loan from the shareholder, amounting to HK\$17,594,000 (equivalent to RMB16,000,000) against the loan to the Borrower with the corresponding amount.

34. 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。

於截至二零二四年六月三十日止年度, 於損益扣除的供款總額為299,000港元 (二零二三年:970,000港元)。

35. 綜合現金流量表附註

(a) 非現金交易

截至二零二四年六月三十日止年度, 本集團並無添置使用權資產(二零 二三年:486,000港元)。

截至二零二四年六月三十日止年度, 本集團與一名股東及第三方借款人 (「該借款人」)訂立協議,據此,本 集 團 以 來 自 該 股 東 金 額 為 17,594,000 港 元(相 當 於 人 民 幣 16,000,000元)的貸款抵銷給予該借 款人的貸款的相應金額。

For the year ended 30 June 2024 截至二零二四年六月三十日止年度

35. NOTES TO THE CONSOLIDATED STATEMENT OF CASH FLOWS (continued)

(a) Non-cash transaction (continued)

During the year ended 30 June 2024, the Group entered into an agreement with a third party and the Borrower, pursuant to which the Group had offset the other borrowing from the third party, amounting to HK\$3,299,000 (equivalent to RMB3,000,000) against the loan to the Borrower with the corresponding amount.

During the year ended 30 June 2024, the Group entered into an agreement with a shareholder and director, pursuant to which the Group had transferred the trade receivables from two customers of totalling HK\$29,045,000 (equivalent to RMB26,413,000) to the shareholder and director to offset the loan from the shareholder and director with the corresponding amount.

During the year ended 30 June 2024, the Group entered into an agreement with a shareholder and director and Zhejiang Junjing, pursuant to which the Group had offset the loans from the shareholder and director, amounting to HK\$932,000 against the other receivables from Zhejiang Junjing with the corresponding amount.

35. 綜合現金流量表附註(續)

(a) 非現金交易(續)

截至二零二四年六月三十日止年度, 本集團與一名第三方及該借款人訂 立協議,據此,本集團以來自該第 三方金額為3,299,000港元(相當於 人民幣3,000,000元)的其他借貸抵 銷給予該借款人的貸款的相應金額。

截至二零二四年六月三十日止年度, 本集團與一名股東及董事訂立協議, 據此,本集團以向該股東及董事轉 讓來自該兩名客戶合共29,045,000 港元(相當於人民幣26,413,000元) 的貿易應收款項抵銷來自該股東及 董事的貸款的相應金額。

截至二零二四年六月三十日止年度, 本集團與一名股東及董事以及浙江 雋景訂立協議,據此,本集團以來 自該股東及董事金額為932,000港 元的貸款抵銷來自浙江雋景的其他 應收款項的相應金額。

For the year ended 30 June 2024 截至二零二四年六月三十日止年度

35. NOTES TO THE CONSOLIDATED STATEMENT OF CASH FLOWS (continued)

1. 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

		Borrowings (note 25) 借貸 (附註25) HK\$'000 千港元	Lease liabilities (note 16(b)) 租賃負債 (附註16(b)) HK\$'000 千港元	Loans from a shareholder and director (note 26) 來自一名 股東及 董事貸款 (附註26) HK\$'000 千港元	Loan from a shareholder (note 26) 來自一名 股東貸款 (附註26) HK\$'000 千港元	Loans from directors (note 26) 來自 董事貸款 (附註26) HK\$'000 千港元	Loans from an ultimate beneficial owners (note 26) 來自一名 最終實益 擁有人貸款 (附註26) HK\$'000 千港元
At 1 July 2022 Changes from financing	於二零二二年七月一日 融資現金流量變動	23,094	463	604	–	–	–
cash flows		(7,055)	(515)	31,773	10,139	164	–
New leases	新租賃	–	486	–	–	–	–
Interest expenses	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 and 1 July 2023	於二零二三年 六月三十日及 二零二三年七月一日
Changes from financing	融資現金流量變動	7,191	282	30,416	17,254	157	–
cash flows		400	(205)	1,256	110	839	4,508
Interest expenses	利息開支	–	3	–	–	–	–
Disposal of subsidiaries (note 31)	出售附屬公司(附註31)	(2,500)	(84)	(980)	–	(784)	–
Non-cash settlements (note 35(a))	非現金結算(附註35(a))	(3,299)	–	(29,977)	(17,594)	–	–
Exchange realignment	匯兌調整	64	4	587	349	7	–
Reclassification	重新分類	–	–	(597)	597	–	–
At 30 June 2024	於二零二四年 六月三十日	1,856	–	705	716	219	4,508

For the year ended 30 June 2024 截至二零二四年六月三十日止年度

36. 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 year was as follows:

36. 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

於本年度,本公司董事及其他主要管理 層成員之薪酬如下:

		2024 二零二四年 HK\$'000 千港元	2023 二零二三年 HK\$'000 千港元
Fee, salaries and allowances Retirement benefit scheme contributions	袍金、薪金及津貼 退休福利計劃供款	718 12	1,345 38
		730	1,383

For the year ended 30 June 2024 截至二零二四年六月三十日止年度

37. PARTICULARS OF PRINCIPAL SUBSIDIARIES

37. 主要附屬公司之詳情

Particulars of the Company's principal subsidiaries as at 30 June 2024 and 2023 are as follows:

於二零二四年及二零二三年六月三十日, 本公司主要附屬公司的詳情如下:

Company Name	Place of incorporation/ registration and operation 註冊成立╱註 冊及經營所在	Form of business structure	Particular of issued share capital			Proportion of ownership interest/voting rights/profit sharing		Principal activities
公司名稱	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
				2024 二零二四年	2023 二零二三年	2024 二零二四年	2023 二零二三年
United Mutual Holding Limited ("United Mutual") United Mutual Holding 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
Hong Ji Company Limited	Hong Kong	Limited liability	HK\$1,000	–	–	100%		N/A** Investment holding
弘吉有限公司	香港	company 有限公司	1,000港元				不適用** 投資控股
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	香港	有限公司	1港元					投資控股
Million Stars Internet Media Limited	Hong Kong	Limited liability company	HK\$1	–	–	100%		100% Internet advertising services
萬星網絡傳媒有限公司	香港	有限公司	1港元					互聯網廣告服務
Jade King Investment Limited	Hong Kong	Limited liability company	HK\$1	–	–	100%		100% Investment holding
雋景投資有限公司	香港	有限公司	1港元					投資控股

For the year ended 30 June 2024 截至二零二四年六月三十日止年度

37. PARTICULARS OF PRINCIPAL SUBSIDIARIES

1. 主要附屬公司之詳情(續)

	(continued)
--	-------------	--

Company Name	Place of incorporation/ registration and operation 註冊成立╱註	Form of business structure	Particular of issued share capital		Proportion of ownership interest/voting rights/profit sharing			Principal activities
公司名稱	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
				2024 二零二四年	2023 二零二三年	2024 二零二四年	2023 二零二三年
Shenzhen Longyou Shiji Technology Limited* 深圳市龍遊世紀科技有限公司	PRC 中國	Limited liability company 有限公司	HK\$20,000,000 (Registered capital) 20,000,000港元 (註冊資本)	–	–	100%		100% Internet advertising services 互聯網廣告服務
Ai Wan Yue 愛玩悅	PRC 中國	Limited liability company 有限公司	RMB10,000,000 (Registered capital) 人民幣10,000,000元 (註冊資本)	–	–	100%		100% Internet advertising services 互聯網廣告服務
Dongrun Hudong 東潤互動	PRC 中國	Limited liability company 有限公司	RMB35,000,000 (Registered capital) 人民幣35,000,000元	–	–	100%		100% Investment holding 投資控股
Nanjing Shengqu Internet Technology Limited* 南京盛趣網絡科技有限公司	PRC 中國	Limited liability company 有限公司	(註冊資本) RMB10,000,000 (Registered capital) 人民幣10,000,000元 (註冊資本)	–	–	100%		100% Internet advertising services 互聯網廣告服務
Shanghai Wanxing Network Technology Limited* 上海萬星網絡科技有限公司	PRC 中國	Limited liability company 有限公司	HK\$60,000,000 (Registered capital) 60,000,000港元 (註冊資本)	–	–	100%		100% Internet advertising services 互聯網廣告服務

For the year ended 30 June 2024 截至二零二四年六月三十日止年度

37. PARTICULARS OF PRINCIPAL SUBSIDIARIES

1. 主要附屬公司之詳情(續)

(continued)

Company Name	Place of incorporation/ registration and operation 註冊成立╱註 冊及經營所在	Form of business structure	Particular of issued share capital		Proportion of ownership	interest/voting rights/profit sharing		Principal activities
公司名稱	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
				2024 二零二四年	2023 二零二三年	2024 二零二四年	2023 二零二三年
Horgos Dongrun Network Technology Co., Ltd.* 霍爾果斯東潤網絡科技有限公司	PRC 中國	Limited liability company 有限公司	RMB30,000,000 (Registered capital) 人民幣30,000,000元 (註冊資本)	–	–	100%		100% Internet advertising services 互聯網廣告服務
Hangzhou Wapusirui Technology Co., Ltd.* 杭州瓦普思瑞科技有限公司	PRC 中國	Limited liability company 有限公司	HK\$1,000,000 (Registered capital) 1,000,000港元 (註冊資本)	–	–	100%		N/A Internet advertising services 不適用 互聯網廣告服務
* The English translation of the name is for identification purpose for PRC company only.				*		中國公司名稱的英文譯文僅供識別。
** The subsidiaries are newly incorporated during the year ended 30				**				該等附屬公司乃於截至二零二四年六月三十

June 2024.

Note: On 1 February 2024, the Group established a subsidiary, Yupai (Shenzhen) Enterprises Investment Limited ("Yupai Shenzhen"), which was indirectly held as to 51% by Million Stars SZ and 49% by an independent third party. Upon the completion of the Disposal of Million Stars SZ Group, Yupai Shenzhen ceases to be an indirectly non-wholly-owned subsidiary of the Company.

日止年度新註冊成立。

附註:於二零二四年二月一日,本集團成立附屬公 司育派(深圳)實業投資有限公司(「育派深 圳」),該公司由萬星深圳及一名獨立第三方 分別間接持有51%及49%權益。在完成萬星 深圳集團出售事項後,育派深圳不再為本公 司的間接非全資附屬公司。

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 2020, 2021, 2022, 2023 and 2024, as extracted from the annual reports for the years ended 30 June 2020, 2021, 2022, 2023 and 2024, is set out below:

本集團截至二零二零年、二零二一年、二零 二二年、二零二三年及二零二四年六月三十日 止五個年度各年之業績及資產與負債概要(其 乃摘錄自截至二零二零年、二零二一年、二零 二二年、二零二三年及二零二四年六月三十日 止年度之年報)載列如下:

		Year ended 30 June 截至六月三十日止年度
		2024 二零二四年 HK\$'000 千港元	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
Results	業績
Revenue	收入	124,541	69,962	46,442	209,261	434,314
Net loss for the year	本年度淨虧損	17,535	(29,991)	(99,493)	(44,130)	(44,039)
Net profit/loss for the year attributable to owners of the Company	本公司擁有人應佔本年度 淨溢利╱虧損	17,535	(29,991)	(99,493)	(44,130)	(44,039)

				As at 30 June 於六月三十日
		2024 二零二四年 HK\$'000 千港元	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
Assets and liabilities	資產及負債
Total assets Total liabilities	資產總值 負債總額	97,224 (37,829)	154,603 (141,106)	96,703 (43,951)	198,302 (66,532)	268,442 (103,608)
Total equity	權益總額	59,395	13,497	52,752	131,770	164,834