民商创科中期报告2023

2023 CONTENTS Corporate Information Management Discussion and Analysis Other information Condensed Consolidated Interim Statement of Comprehensive Income Condensed Consolidated Interim Statement of Financial Position Condensed Consolidated Interim Statement of Changes in Equity Condensed Consolidated Interim Statement of Cash Flows Notes to the Condensed Consolidated Interim Financial Information CORPORATE INFORMATION EXECUTIVE DIRECTORS Mr. WU Jiangtao(Chairman)Mr. TAO Jingyuan(Chief Executive Officer)Mr. LAI Xiaopeng Michael INDEPENDENT NON-EXECUTIVE DIRECTORS Mr. CHOI Tze Kit, SammyMr. CHEUNG MiuMr. CHEUNG Pak To COMPANY SECRETARYMs. LI Yan Wing Rita AUTHORISED REPRESENTATIVES Mr. LAI Xiaopeng MichaelMs. LI Yan Wing Rita AUDIT COMMITTEE Mr. CHOI Tze Kit, Sammy(Chairman)Mr. CHEUNG MiuMr. CHEUNG Pak To REMUNERATION COMMITTEE Mr. CHEUNG Miu(Chairman)Mr. WU JiangtaoMr. CHEUNG Pak To NOMINATION COMMITTEE Mr. WU Jiangtao(Chairman)Mr. CHEUNG MiuMr. CHEUNG Pak To REGISTERED OFFICE Cricket Square, Hutchins DrivePO Box 2681Grand Cayman, KY1-1111Cayman Islands Cricket Square, Hutchins DrivePO Box 2681Grand Cayman, KY1-1111Cayman Islands HEADQUARTERS AND PRINCIPAL PLACEOF BUSINESS IN HONG KONG 89424203 Unit 4203, 42/FTower One Lippo Centre89 Queensway, Admiralty, Hong Kong PRINCIPAL SHARE REGISTRAR ANDTRANSFER OFFICE Conyers Trust Company (Cayman) LimitedCricket Square, Hutchins DrivePO Box 2681Grand Cayman, KY1-1111Cayman Islands Conyers Trust Company (Cayman) LimitedCricket Square, Hutchins DrivePO Box 2681Grand Cayman, KY1-1111Cayman Islands HONG KONG BRANCH SHARE REGISTRARAND TRANSFER OFFICE 1617 Tricor Investor Services Limited17/F, Far East Finance Centre, 16 Harcourt Road, Hong Kong INDEPENDENT AUDITOR RSM Hong KongCertified Public AccountantsRegistered Public Interest Entity Auditor PRINCIPAL BANKERS Hang Seng Bank LimitedChina Minsheng Banking Corp., Ltd STOCK CODE www.minshangct.com WEBSITEwww.minshangct.com MANAGEMENT DISCUSSION ANDANALYSIS BUSINESS REVIEW 2023930(i)(ii)(iii) During the six months ended 30 September 2023 (the “Period”),Minshang Creative Technology Holdings Limited (the “Company”,together with its subsidiaries, the “Group”), had the following principalbusinesses: (i) Vietnamese-style restaurant business; (ii) tradingbusiness; and (iii) information technology (“IT”) solution business. Vietnam-style Restaurant Business 5 During the Period, the Group operated Vietnamese-style restaurantsunder “Viet’s Choice ()” brand and full menu Vietnamese-stylecasual dining restaurant under “Five Spice (5)” brand in HongKong. 2023427Prosperity One Limited31,000,0002023427 Reference is made to the Company’s announcement dated 27 April2023, the Company entered into a sale and purchase agreementwith an independent third party in respect of the disposal of the entireequity interests of Prosperity One Limited and its subsidiaries (the“Disposal Group”) (the “Disposal”), which is principally engaged inVietnamese-style restaurant business, at an aggregate considerationof HK$31,000,000. Upon completion of the Disposal on 27 April2023, the Group ceased its Vietnamese-style restaurant business. COVID-19 The restaurant operation in Hong Kong has been materially adverselyaffected by the outbreak of COVID-19, with the negative marketsentiment, local consumers’ low inclination to dine out and keencompetition in the food and beverage industry in Hong Kong, it isexpected that the Vietnamese-style Restaurant Business may nothave a significant improvement in its business performance in near tomedium-term. As such, the management considers that it is a goodopportunity to dispose of the Vietnamese-style Restaurant Businessat a reasonable price. Yet, the management is still exploring for newopportunities in the food and beverage industry and may continue itsfood and beverage business should suitable opportunities arise. Trading Business During the Period, a wholly owned subsidiary,(“Minshang Ningbo”) in the People’s Republic ofChina (the “PRC”), positioned itself in B2B business with a focus onoffering 3C electronic products, frozen foods and grain & oil products.Minshang Ningbo sourced from manufacturers or wholesalers locatedin the PRC and sold to distributors. B2B3C Minshang Ningbo made its procurement and sales according tomarket trends and needs, such as the newly released new modelsmartphones, and sold the products to distributors at a correspondingpremium. Distributors are usually local entities which lack an extensivesupplier network. Procuring related products through MinshangNingbo would have certain advantages in terms of price and form acirculation in a large scale. IT Solution Business (i)(ii) During the Period, the Group operates its IT solution business in thePRC through (i)(“QianhaiMinshang”) and (ii)(“ChangjingWanxiang”). (I) (I)IT solution business of Qianhai Minshang B(i)(ii)(iii) Qianhai Minshang aims to provide digital solutions for industrialu