Chairman Statement

Business Review and Outlook

We are an integrated platform hosting news media, public relationship, social networking services for listed companies and investors. We have 5 operation units, Finet.hk, FinTV.hk, Finet.com.cn, FinTV APP, Finet Finance APP which are formed by 3 websites and 2 mobile applications.

Our principle business composed of: (1) Total Solutions for Public Relation Service (Digital Marketing, Public relationship, Events Management); (2) Total Solutions for Advertising Service (Digital Advertisement, Financial News Contents distribution on different portals in Mainland China). Our principle areas for our advertisement placement are scattered around in the main cities of China, Hong Kong and South East Asia.

Our business has been increased from HK$19,000,000 to HK$25,990,000. Which has approximately 30% increase and it is composed of HK$23,700,000 from Digital Marketing, Financial public relationship and online Conference and Events; and, HK$3,300,000 from the service fees from providing professional research capabilities and data contents to Hong Kong Top 100 Listed Companies Research Center.

Our primary focus of our operations is in Financial P R and branding for listed companies. Through an array of new media facilities we controlled our operating costs and improved our operation efficiency. Through the distribution of high quality contents we have obtained a general recognition of our services in the market.

Customers Review

We have more than 400 clients, and they are mainly institutional clients come from Financial P R Agency and Listed Companies in Hong Kong.

Business Review

Resulting from the impact of Covid-19, the number of newly listed companies was reduced in 2019 to 2020. We have only secured 89 new IPO clients. The outbreak of Covid-19 has brought a tremendous impact to the decrease in the number of new IPO clients and to postpone the usage of our products and services.

Through our effort in diversifying our business into new sphere of services, and through adoption of new technology we have been successful in cutting down our human resources cost and expenses to a contained level. In the meantime, we have achieved a sizeable increase in revenue and gained more market shares. The combined effort of diversifying our income stream and reduced our Human Resources cost, we have brought our operation loss down significantly. We have developed our own App and expanded our manpower in Mainland China, we have increased our costs in the I T development and payroll last year.

After many years of improvement and renovation of our business strategies, and wide expansion in partnership development with China giant portals, we have gained a significant popularity in the market of China and gained the highest reception by local financial public relations agencies and become their main agent for public relations clients’ contents distribution into the market of China. We did not reduce our spending in incubating professional team in our company in the days during the spread of Covid-19, and this has resulted in the keeping of our professional standards of our contents and services to a satisfying level of our customers.

In the area of contents distribution service, we through our subsidiary, China Hong Kong News Group Ltd. possessed a license granted by the (The Provisions on Administration of Provision of Financial Information Services in China by Foreign Institutions 《外 國 機 構 在 中 國 境 內 提 供 金 融 信 息 服 務 管 理 規 定》 Cyberspace Administration of China) which has given us a permission to distribute financial contents and data and news into the Mainland China. This has made us the “SuperGateway “for importing financial news contents into the Mainland China. We expect to procure more advertising and promotion services from overseas clients as well as Hong Kong clients.

Just when we are doing our traditional promotion and advertising business we have discovered a new challenge in the growing interests in “On Line Advertisement Placement” from customer in Small to Middle Market and non-listed companies, We will expand our customers base from listed companies to non-listed companies in our new product: Easy Placement for On Line Advertisement.

Last year we have taken a more aggressive move in the Reform of our infrastructure. We aimed at building a more interactive, automatic, and efficient operating platform. In this year we have entered into many cooperation partnerships with technology companies who has helped us to improve our efficiency in handling massive amount of news contents and writing and effectively connect and engage our contents with the targeted audiences. Besides, we have also entered into many Partnerships with the most popular and highest number of users portals and media platforms, such as: Tencent Portfolio, TouTiao, Sina Finance, NetEase, SnowBall.

Our branding promotion business has been improved a lot in 2019 after we have adopted an array of new services such as short video, and graphic demonstration on top of text of words. This improved revenue has encouraged us to take a big step forward. We decided to implement a new product: Easy On Line Advertisement Placement at a reasonably affordable cost for a higher level of standard of service.

This product will enable small to middle size companies to enjoy rich and wide range of services at a reasonable price. Our customers will dictate the order lists for placement of advertisement to their preferred lists of portals and media platform in China without purchase through the traditional Public Relationship Agency; while the price of the product purchased is only 10% of the market price.

The situation of Covid-19 has been moderated and the business operation is slowly resumed. However, the advertisement spending and business promotion expenditure will continue to be reduced temporarily. But we strongly believed we can defend the business disruption and the related impact on our business result through the launching of this new product.

The News Distribution Permission Licenses, named as: “The Provisions on Administration of Provision of Financial Information Services in China by Foreign Institutions” has empowered us to be the “Super gateway” to the advertising market in Mainland China. This has also enabled us to bring in more overseas clients into China which offers them a huge population of up to 1.4 billion consumers.

We believe this is an opportunity for us and is incomparable to the scale of what we can imagine. We estimated there will be 10 times expansion in our market size. We will focus more in the development of worldwide customers outside of Hong Kong. This is obviously a great opportunity for us to evolve into a new business sphere for serving overseas small to middle size customers.

I hope we can become a trustworthy partner with most of the international media players.

I will be persistent in my hope wishing our company to become a more solid integrated platform featuring news media, public relationship and promotion service
and continue to be one of the most reliable platforms in the eyes of our audience in Mainland China.

I have to thank all our colleagues who have been working hard to make our company successful and our clients who has been supporting us all these years, and the platforms in China who has nurtured our growth and given us the total size of accumulated audience of 2 billion all these years.

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LO Yuk Yee

Chairman

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