1.20 shares for each share; Par value will be reduced from HK $0.20 to HK $0.01. 9,120,000 will be used to offset continuous losses and divided into 20 shares of HK $0.01 par value each; Authorized share capital increased from HK $20,000,000 (divided into 2,000,000,000 adjusted shares of HK $0.01 par value per share) to HK $200,000,000 (divided into 20,000,000,000 adjusted shares of HK $0.01 par value per share)2.1share for2 , 96,000,000 shares issued, representing 200% of the issued share capital, offer price: HK $0.34, net proceeds of HK $31.0 million, placing agent: I Win Securities Limited
The Company is an investment holding company, and together with its subsidiaries, is principally engaged in the provision of interior design and fit-out services in Hong Kong and the health industry supply chain business in the PRC.
These events or conditions, along with other matters as set forth in Note 3.1 to the consolidated financial statements, indicate that a material uncertainty exists that may cast significant doubt on the Group's ability to continue as a going concern. Our opinion is not modified in respect of this matter.
On 7 March 2025, the Group obtained a borrowing of HK$2,000,000 from Dr. Chan for daily operations, which is unsecured, interest-free and repayable upon maturity in March 2027.
The Directors believe that the Group will have sufficient cash resources to satisfy its future working capital and other financing requirements falling due within the next twelve months from the end of the reporting period, and therefore the Directors believe that the Group will continue as a going concern and consider that it is appropriate to prepare the consolidated financial statements on a going concern basis.
