Placing 139,809,314 shares, representing 20% of the issued share capital, to one or more allotments at a price of HK $0.24 and net proceeds of approximately HK $32.90 million. Placing agent: Funderstone Securities Limited
The Group was principally engaged in growing of agricultural produce, trading of agricultural and meat produce, poultry, seafood, prepared food and bulk commodities in the People’s Republic of China (the "PRC") ("Agricultural and Meat Business") during the Reporting Period.
We do not express an opinion on the consolidated financial statements of the Group. Because of the significance of the matters described in the Basis for Disclaimer of Opinion section of our report, it is not possible for us to form an opinion on these consolidated financial statements.
As at 31 December 2025, the outstanding balances of unsecured promissory notes issued by the Company to Mr. Lin Yuhao, an executive Director and Mr. Lin Yupa, a former Director, who is a close family member of a key management personnel of the Company was HK$16.3 million (classified to other borrowings) (2024: HK$16.3 million), respectively.
The Directors are of the view that the aforementioned action plan is reasonable, adequate, and viable. Based on the progress of these measures, the Directors believe the Group will secure sufficient working capital to meet its financial obligations as they fall due.
