Placing 20,682,112 shares, representing approximately 10.55% of the total number of shares outstanding, to one or more allotees at the issue price of HK $0.385 and net proceeds of approximately HK $7,410,000. Placing agent: Advent Securities (Hong Kong) Limited.
China New Holdings Limited (the “Company”) and its subsidiaries (collectively the “Group”) are principally engaged in (i) provision of design, fitting out and engineering services comprising design, fitting out, engineering and procurement of furnishings and related products services, (ii) leasing of construction equipment and provision of related installation services, (iii) sourcing and merchandising of fine and rare wines and (iv) provision of financial services comprising securities and money lending business.
In our opinion, the consolidated financial statements give a true and fair view of the financial position of the Group as at 31 March 2025, and of its financial performance and cash flows for the year then ended in accordance with HKFRS Accounting Standards issued by the Hong Kong Institute of Certified Public Accountants (the “HKICPA”) and have been properly prepared in compliance with the Companies Ordinance.
All borrowings and lease liabilities were fully repaid as at year end. The Directors adopt going concern basis for financial statements and are not aware of any material uncertainties casting significant doubt on the Group’s ability to continue as a going concern.
