Placing 19,320,000 shares, representing approximately 19.99% of the issued share capital, to one or more allotments at a price of HK $0.158 and net proceeds of approximately HK $3.02 million. Placing agent: Sunhigh Financial Holdings Limited
The principal activity of the Company is investment holding and the principal activities of its subsidiaries are set out in note 37 to the consolidated financial statements. The Group is principally engaged in the business of catering and engineering, aircraft engine stand repairing, maintenance and other related services and sale of agricultural products.
Material Uncertainty Related to Going Concern: We draw attention to note 3 to the consolidated financial statements, which indicates that the Group incurred a net loss of approximately HK$30,539,000 for the year ended 31 March 2026 and, as of that date, the Group’s net liabilities, net current liabilities and total current liabilities were approximately HK$10,525,000, HK$17,310,000 and HK$33,589,000 respectively, while its total cash and cash equivalents amounted to HK$3,968,000 only. These conditions, along with other matters as set forth in note 3 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.
The directors of the Company are of the opinion that, taking into account the above-mentioned plans and measures, the Group will have sufficient working capital to finance its operations and to meet its financial obligations as and when they fall due within twelve months from the date of approval of the consolidated financial statements. Accordingly, the directors of the Company are satisfied that it is appropriate to prepare the consolidated financial statements on a going concern basis.
