1 share for 1 share, 986,898,680 shares issued, accounting for 100% of the issued share capital, offer price: HK $0.077, net proceeds of HK $74,000,000, placing agent: Tiger Faith Securities Limited
The Company is an investment holding company and the Group is principally engaged in (i) wood-related business, including the processing and distribution of furniture wood, and the manufacturing and sales of antique-style wood furniture and other wooden products; and (ii) food and beverage business in the People’s Republic of China (the “PRC”).
Attention is drawn to Note 2 to the Consolidated Financial Statements, which reveals that the Group incurred a loss for the year of approximately HK$30,765,000 and recorded net cash outflows from operating activities of approximately HK$39,938,000 for the year ended 31 December 2025. As at 31 December 2025, the Group’s cash and bank balances stood at a low level of approximately HK$1,175,000, which was substantially lower than current liabilities of approximately HK$17,502,000. These events or conditions indicate the existence of material uncertainties that may cast significant doubt on the Group’s ability to continue as a going concern.
Management has prepared cash flow forecasts covering a period of not less than twelve months from the date of this annual results announcement. The directors of the Company are of the view that the Group will have sufficient working capital to fund its operations and meet its financial obligations falling due within twelve months from the date of this annual results announcement.
