215,499,000 shares, representing 166.9% of the issued share capital, were issued to MR. WANG JIAWEI at the following price: Hk $0.1, the total net proceeds will be HK $21,549,900. Upon completion, Mr Wang and his cooperators will have an interest in a total of 253,353,877 shares, representing approximately 73.51% of the total issued share capital of the enlarged share capital. Trigger the Offer price: HK $0.1
During the current year, the Group, comprising the Company and its subsidiaries, was principally engaged in trading of motor vehicles, provision of agency services and accessories sourcing in the People’s Republic of China (“PRC”), excluding Hong Kong.
In our opinion, the consolidated financial statements give a true and fair view of the consolidated financial position of the Group as at 31 December 2025, and of its consolidated financial performance and its consolidated cash flows for the year then ended in accordance with HKFRS Accounting Standards as 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.
Increase in amount due to a director 8,000
Notwithstanding the Group recorded annual losses, current liabilities exceeding current assets at year-end and an extremely high gearing ratio, the directors are of the view that the Group will have sufficient working capital to cover its operational needs for the next twelve months, supported by a full repayment of bank borrowings, profit generated from the disposal of property subsidiary, higher cash reserves, customer base expansion, ongoing certification progress for China 6-standard imported vehicles and the proposed capital reorganisation plan.
