5 shares for 1 share and 1 share for 3, 360,000,000 shares issued, representing 300% of the issued share capital, offer price: HK $0.6, net proceeds of about HK $207.0 million, placing agents:uSmart Securities Limited and Jakota Securities Group Limited,
comprising two main segments, namely, 'influencer marketing services' and 'integrated smart marketing solution services.
We draw attention to Note 2 to the financial statements, which indicates that the Group incurred a loss of RMB54,777,000 during the year ended 31 December 2025 and had net cash outflows from operating activities of approximately RMB20,325,000 and, as of 31 December 2025, the Group's total borrowings amounted to approximately RMB124,410,000, while its cash and cash equivalents were only approximately RMB39,626,000. These conditions indicate that a material uncertainty exists that may cast significant doubt on the Company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.
Information about loans provided by the Group with Mr. Dong Hui and directors as beneficiaries is as follows: Name of borrower: Mr. Dong Hui | Connection: Director Outstanding amount at 31 December 2025: RMB2,133,000 (31 December 2024: RMB2,201,000) Interest rate: Nil | Security: Unsecured | Term: 19.8.2021–18.8.2025 (extended to 19.8.2025–18.8.2026)
In 2025, amidst a complex and rapidly changing environment, despite a significant decrease in gross profit margin, we achieved stable and moderate business growth. Although technological advancements (especially generative artificial intelligence ("AIGC") technology) brought significant opportunities, advertisers maintained a cautious operational approach and the advertising industry continued to face multiple challenges... We remain committed to taking proactive measures to stimulate internal growth momentum and ensure solid development. Our goal is to achieve a stronger rebound in 2026.
