32,000,000 shares, representing 9.63% of the issued share capital, were issued to Mr. Hou Yong at HK $0.075 for a total net proceeds of HK $32,400,000
The Group is principally engaged in intelligent advertising business, agricultural, forestry and consumer products business, supply-chain business and property business.
The Group incurred a net loss of approximately HK$8,892,000 during the year ended 31 March 2025 and, as of that date, the Group’s current liabilities exceeded its current assets by approximately HK$63,951,000. Further, as at 31 March 2025, the Group’s total current liabilities that fall due within 12 months of the reporting date amounted to approximately HK$160,919,000, while the Group recorded cash and cash equivalents of approximately HK$7,061,000 as at 31 March 2025. The conditions described above cast significant doubt on the Group’s ability to continue as a going concern.
Win Bless, a substantial shareholder of the Company, granted a loan facility of HK$10,000,000 to the Group. Win Bless will not demand the Group for repayment of such loan until all the other liabilities have been satisfied.
the directors of the Company are of the opinion that it is appropriate to prepare the consolidated financial statements for the year ended 31 March 2025 on a going concern basis.
