Aankondiging • 2h
Global Link Communications Holdings Limited, Annual General Meeting, Sep 04, 2026 Global Link Communications Holdings Limited, Annual General Meeting, Sep 04, 2026, at 14:30 China Standard Time. Location: room 3714, hong kong plaza, no. 188 connaught road west, Hong Kong Reported Earnings • Jun 27
Full year 2026 earnings released: EPS: HK$0.008 (vs HK$0.01 loss in FY 2025) Full year 2026 results: EPS: HK$0.008 (up from HK$0.01 loss in FY 2025). Revenue: HK$161.3m (up 7.8% from FY 2025). Net income: HK$2.64m (up HK$5.89m from FY 2025). Profit margin: 1.6% (up from net loss in FY 2025). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. New Risk • Jun 22
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (HK$31.0m market cap, or US$3.96m). Minor Risk Latest financial reports are more than 6 months old (reported September 2025 fiscal period end). Reported Earnings • Dec 09
First half 2026 earnings released: HK$0.018 loss per share (vs HK$0.001 loss in 1H 2025) First half 2026 results: HK$0.018 loss per share (further deteriorated from HK$0.001 loss in 1H 2025). Revenue: HK$56.0m (down 22% from 1H 2025). Net loss: HK$5.80m (loss widened HK$5.32m from 1H 2025). Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 29
First half 2026 earnings released: HK$0.018 loss per share (vs HK$0.001 loss in 1H 2025) First half 2026 results: HK$0.018 loss per share (further deteriorated from HK$0.001 loss in 1H 2025). Revenue: HK$56.0m (down 22% from 1H 2025). Net loss: HK$5.80m (loss widened HK$5.32m from 1H 2025). Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Aankondiging • Nov 14
Global Link Communications Holdings Limited to Report First Half, 2026 Results on Nov 27, 2025 Global Link Communications Holdings Limited announced that they will report first half, 2026 results on Nov 27, 2025 New Risk • Aug 16
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Hong Kong stocks, typically moving 11% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (HK$37.5m market cap, or US$4.80m). Minor Risk Share price has been volatile over the past 3 months (11% average weekly change). Aankondiging • Jul 21
Global Link Communications Holdings Limited, Annual General Meeting, Sep 05, 2025 Global Link Communications Holdings Limited, Annual General Meeting, Sep 05, 2025, at 14:30 China Standard Time. Location: room 3714, hong kong plaza, no. 188 connaught road west, Hong Kong Reported Earnings • Jul 02
Full year 2025 earnings released: HK$0.01 loss per share (vs HK$0.006 loss in FY 2024) Full year 2025 results: HK$0.01 loss per share (further deteriorated from HK$0.006 loss in FY 2024). Revenue: HK$149.6m (up 11% from FY 2024). Net loss: HK$3.25m (loss widened 62% from FY 2024). Over the last 3 years on average, earnings per share has increased by 72% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Reported Earnings • Jun 27
Full year 2025 earnings released: HK$0.01 loss per share (vs HK$0.006 loss in FY 2024) Full year 2025 results: HK$0.01 loss per share (further deteriorated from HK$0.006 loss in FY 2024). Revenue: HK$149.6m (up 11% from FY 2024). Net loss: HK$3.25m (loss widened 62% from FY 2024). Over the last 3 years on average, earnings per share has increased by 72% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Aankondiging • Jun 13
Global Link Communications Holdings Limited to Report Fiscal Year 2025 Results on Jun 26, 2025 Global Link Communications Holdings Limited announced that they will report fiscal year 2025 results on Jun 26, 2025 Reported Earnings • Dec 02
First half 2025 earnings released: HK$0.001 loss per share (vs HK$0.003 loss in 1H 2024) First half 2025 results: HK$0.001 loss per share (improved from HK$0.003 loss in 1H 2024). Revenue: HK$72.1m (up 9.6% from 1H 2024). Net loss: HK$480.0k (loss narrowed 49% from 1H 2024). Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has fallen by 26% per year, which means it is significantly lagging earnings. Aankondiging • Nov 15
Global Link Communications Holdings Limited to Report First Half, 2025 Results on Nov 27, 2024 Global Link Communications Holdings Limited announced that they will report first half, 2025 results on Nov 27, 2024 Aankondiging • Sep 09
Global Link Communications Holdings Limited Announces Board Changes Global Link Communications Holdings Limited announced that at its AGM held on September 9, 2024, shareholders approved the appointment of Ms. Leung Hoi Ning as an independent non-executive Director. As disclosed in the Circular, the resignation of Mr. LIU Chun Bao ("Mr. Liu") as an INED due to having reached the retirement age and his desire to devote more time to his personal retirement life took effect upon the conclusion of the adjourned AGM. Mr. Liu's resignation as a member of the Audit Committee, the Remuneration Committee and the Nomination Committee also took effect upon the conclusion of the adjourned AGM. Mr. Liu has confirmed that he has no disagreement with the Board and there are no matters in relation to his resignation that need to be brought to the attention of the Shareholders. As approved by ordinary resolution no. 3(C) at the adjourned AGM, the Board announced that Ms. LEUNG Hoi Ning (Ms. Leung) has been appointed as an INED with effect from the conclusion of the adjourned AGM. Ms. LEUNG Hoi Ning, aged 37, has been working at a listed company on the main board of the Stock Exchange since April 2013 and has held the position of financial controller since October 2015. Before that, she also gained auditing and assurance experience from PricewaterhouseCoopers from September 2008 to February 2013. She graduated from the University of Hong Kong with a Bachelor of Business Administration in Accounting and Finance in 2008 and has been a member of the Hong Kong Institute of Certified Public Accountants since January 2012. She has over 10 years of experience in finance, accounting and treasury. Ms. Leung has entered into a letter of appointment with the Company for an initial term of three years in relation to her appointment as an INED and a member of the Audit Committee, the Remuneration Committee and the Nomination Committee. Ms. Leung was appointed as a member of the Audit Committee, Remuneration Committee and Nomination Committee in place of Mr. Liu with effect from the conclusion of the adjourned AGM. Reported Earnings • Jun 27
Full year 2024 earnings released: HK$0.006 loss per share (vs HK$0.036 loss in FY 2023) Full year 2024 results: HK$0.006 loss per share (improved from HK$0.036 loss in FY 2023). Revenue: HK$134.3m (down 4.1% from FY 2023). Net loss: HK$2.00m (loss narrowed 83% from FY 2023). Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 22% per year, which means it has not declined as severely as earnings. Aankondiging • Jun 15
Global Link Communications Holdings Limited to Report Fiscal Year 2024 Results on Jun 26, 2024 Global Link Communications Holdings Limited announced that they will report fiscal year 2024 results on Jun 26, 2024 New Risk • May 31
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (17% average weekly change). Earnings have declined by 6.6% per year over the past 5 years. Market cap is less than US$10m (HK$16.0m market cap, or US$2.05m). Minor Risk Latest financial reports are more than 6 months old (reported September 2023 fiscal period end). Reported Earnings • Nov 11
Second quarter 2024 earnings released: EPS: HK$0.003 (vs HK$0.001 in 2Q 2023) Second quarter 2024 results: EPS: HK$0.003 (up from HK$0.001 in 2Q 2023). Revenue: HK$36.8m (flat on 2Q 2023). Net income: HK$853.0k (up 157% from 2Q 2023). Profit margin: 2.3% (up from 0.9% in 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 17% per year whereas the company’s share price has fallen by 21% per year. Aankondiging • Nov 01
Global Link Communications Holdings Limited to Report Q2, 2024 Results on Nov 10, 2023 Global Link Communications Holdings Limited announced that they will report Q2, 2024 results on Nov 10, 2023 New Risk • Aug 19
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Hong Kong stocks, typically moving 15% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (15% average weekly change). Earnings have declined by 13% per year over the past 5 years. Market cap is less than US$10m (HK$26.4m market cap, or US$3.38m). Reported Earnings • Aug 12
First quarter 2024 earnings released: HK$0.005 loss per share (vs HK$0.005 loss in 1Q 2023) First quarter 2024 results: HK$0.005 loss per share (in line with 1Q 2023). Revenue: HK$29.1m (down 1.0% from 1Q 2023). Net loss: HK$1.79m (loss widened 5.3% from 1Q 2023). Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 30% per year, which means it is significantly lagging earnings. Aankondiging • Aug 01
Global Link Communications Holdings Limited to Report Q1, 2024 Results on Aug 10, 2023 Global Link Communications Holdings Limited announced that they will report Q1, 2024 results on Aug 10, 2023 Aankondiging • Jun 30
Global Link Communications Holdings Limited, Annual General Meeting, Aug 03, 2023 Global Link Communications Holdings Limited, Annual General Meeting, Aug 03, 2023, at 14:30 China Standard Time. Location: Room 3714, Hong Kong Plaza, No. 188 Connaught Road West Connaught Road West Hong Kong Agenda: To receive and consider the audited consolidated financial statements of the Company and the reports of the directors and auditors for the year ended 31 March 2023; to appoint the Company's auditors and to authorise the board of directors of the Company to fix their remuneration; to re-elect directors; and to consider other matters. Reported Earnings • Jun 22
Full year 2023 earnings released: HK$0.036 loss per share (vs HK$0.065 loss in FY 2022) Full year 2023 results: HK$0.036 loss per share (improved from HK$0.065 loss in FY 2022). Revenue: HK$140.0m (down 22% from FY 2022). Net loss: HK$11.8m (loss narrowed 44% from FY 2022). Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 28% per year, which means it is significantly lagging earnings. Aankondiging • Jun 10
Global Link Communications Holdings Limited to Report Fiscal Year 2023 Results on Jun 21, 2023 Global Link Communications Holdings Limited announced that they will report fiscal year 2023 results on Jun 21, 2023 Reported Earnings • Feb 12
Third quarter 2023 earnings released: HK$0.008 loss per share (vs HK$0.008 profit in 3Q 2022) Third quarter 2023 results: HK$0.008 loss per share (down from HK$0.008 profit in 3Q 2022). Revenue: HK$37.4m (down 35% from 3Q 2022). Net loss: HK$2.50m (down 202% from profit in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has fallen by 37% per year, which means it is significantly lagging earnings. Aankondiging • Feb 01
Global Link Communications Holdings Limited to Report Q3, 2023 Results on Feb 10, 2023 Global Link Communications Holdings Limited announced that they will report Q3, 2023 results on Feb 10, 2023 Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 1 highly experienced director. Executive Chairman Kin Shing Li was the last director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Nov 16
Second quarter 2023 earnings released: EPS: HK$0.001 (vs HK$0.008 loss in 2Q 2022) Second quarter 2023 results: EPS: HK$0.001 (up from HK$0.008 loss in 2Q 2022). Revenue: HK$36.7m (down 21% from 2Q 2022). Net income: HK$332.0k (up HK$2.82m from 2Q 2022). Profit margin: 0.9% (up from net loss in 2Q 2022). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has fallen by 35% per year, which means it is significantly lagging earnings. Aankondiging • Nov 02
Global Link Communications Holdings Limited to Report First Half, 2023 Results on Nov 10, 2022 Global Link Communications Holdings Limited announced that they will report first half, 2023 results on Nov 10, 2022 Reported Earnings • Aug 12
First quarter 2023 earnings released: HK$0.005 loss per share (vs HK$0.013 loss in 1Q 2022) First quarter 2023 results: HK$0.005 loss per share (up from HK$0.013 loss in 1Q 2022). Revenue: HK$29.3m (up 11% from 1Q 2022). Net loss: HK$1.70m (loss narrowed 59% from 1Q 2022). Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has fallen by 33% per year, which means it is significantly lagging earnings. Aankondiging • Jul 30
Global Link Communications Holdings Limited to Report Q1, 2023 Results on Aug 10, 2022 Global Link Communications Holdings Limited announced that they will report Q1, 2023 results on Aug 10, 2022 Aankondiging • Jun 30
Global Link Communications Holdings Limited, Annual General Meeting, Aug 03, 2022 Global Link Communications Holdings Limited, Annual General Meeting, Aug 03, 2022, at 14:30 China Standard Time. Location: at Room 3714, Hong Kong Plaza, No. 188 Connaught Road West, Hong Kong Hong Kong Agenda: To receive and consider the audited consolidated financial statements of the Company and the reports of the directors and auditors for the year ended 31 March 2022; to appoint the Company's auditors and to authorise the board of directors of the Company to fix their remuneration; to re-elect Mr. Ma Yuanguang as a Director; to re-elect and Mr. Cheung Sai Ming as an independent non-executive Director; to authorise the board of Directors to fix the remuneration of the Directors; and to consider other matters. Reported Earnings • Jun 24
Full year 2022 earnings released: HK$0.065 loss per share (vs HK$0.007 profit in FY 2021) Full year 2022 results: HK$0.065 loss per share (down from HK$0.007 profit in FY 2021). Revenue: HK$180.3m (up 84% from FY 2021). Net loss: HK$21.2m (down HK$23.5m from profit in FY 2021). Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has fallen by 42% per year, which means it is significantly lagging earnings. Aankondiging • Jun 11
Global Link Communications Holdings Limited to Report Fiscal Year 2022 Results on Jun 22, 2022 Global Link Communications Holdings Limited announced that they will report fiscal year 2022 results on Jun 22, 2022 Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. Executive Chairman Kin Shing Li was the last director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Feb 11
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: HK$0.008 (up from HK$0.007 loss in 3Q 2021). Revenue: HK$57.0m (up 177% from 3Q 2021). Net income: HK$2.46m (up HK$4.82m from 3Q 2021). Profit margin: 4.3% (up from net loss in 3Q 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has fallen by 35% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 12
Second quarter 2022 earnings released: HK$0.008 loss per share (vs HK$0.012 profit in 2Q 2021) The company reported a mediocre second quarter result with weaker earnings and weaker control over costs, although revenues improved. Second quarter 2022 results: Revenue: HK$46.6m (up 55% from 2Q 2021). Net loss: HK$2.49m (down 164% from profit in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 30% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 11
First quarter 2022 earnings released: HK$0.013 loss per share (vs HK$0.014 loss in 1Q 2021) The company reported a solid first quarter result with reduced losses, improved revenues and improved control over expenses. First quarter 2022 results: Revenue: HK$26.4m (up 116% from 1Q 2021). Net loss: HK$4.12m (loss narrowed 11% from 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has fallen by 51% per year, which means it is performing significantly worse than earnings. Reported Earnings • Jun 24
Full year 2021 earnings released: EPS HK$0.007 (vs HK$0.091 loss in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: HK$98.1m (up 39% from FY 2020). Net income: HK$2.27m (up HK$25.5m from FY 2020). Profit margin: 2.3% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has fallen by 47% per year, which means it is performing significantly worse than earnings. Aankondiging • Jun 09
Global Link Communications Holdings Limited Provides Earnings Guidance for the Year Ended March 31, 2021 Global Link Communications Holdings Limited provided earnings guidance for the year ended March 31, 2021. For the year, the company is anticipated that it would record a profit attributable to the equity shareholders of the Company in the amount of not more than approximately HKD 3.0 million, as compared to the loss attributable to the equity shareholders of the Company of approximately HKD 23.2 million for the corresponding period in 2019/2020. Reported Earnings • Feb 10
Third quarter 2021 earnings released: HK$0.007 loss per share (vs HK$0.017 loss in 3Q 2020) The company reported a decent third quarter result with reduced losses and improved control over expenses, although revenues were weaker. Third quarter 2021 results: Revenue: HK$20.6m (down 14% from 3Q 2020). Net loss: HK$2.36m (loss narrowed 47% from 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has fallen by 55% per year, which means it is performing significantly worse than earnings. Aankondiging • Jan 28
Global Link Communications Holdings Limited to Report Nine Months, 2021 Results on Feb 08, 2021 Global Link Communications Holdings Limited announced that they will report nine months, 2021 results on Feb 08, 2021 Aankondiging • Nov 28
Global Link Communications Holdings Limited Announces Change of Chief Executive Officer The board of directors of Global Link Communications Holdings Limited announced that Mr. Ma Yuanguang, due to rearrangement of duties by the Company, ceased to be the chief executive officer (the "CEO") of the Company but remains to hold the position of executive Director with effect from 27 November 2020. Mr. Ma Yuanguang has confirmed that he has no disagreement with the Board and there are no other matters in relation to his resignation as CEO that need to be brought to the attention of the shareholders of the Company or the Stock Exchange. The Board also announced that Mr. Wong Kin Wa has been appointed as the CEO with effect from 27 November 2020. He will also continue to serve as an executive Director and a member of the remuneration committee of the Company. Mr. Wong, aged 52, has been an executive Director of the Company since 26 May 2016. Mr. Wong is the authorized representatives and compliance officer of the Company, and also a director of a number of subsidiaries of the Company, namely First Asset Securitization Holding Limited, First Asset Securitization Limited, Guangzhou Global Link Intelligent Information Technology Co. Ltd. Global Link Intelligent Parking Investment Company Limited and Scapeway Limited. Mr. Wong has over 20 years of finance and marketing experience, in particular in the telecommunications industry in Hong Kong and Macau. Mr. Wong has been a non-executive director of Directel Holdings Limited, a listed company on the GEM of the Stock Exchange since 2009. He had been an executive director, the chief financial officer, the compliance officer and authorised representative of Goldstream Investment Limited, a listed company on the Main Board of the Stock Exchange before his resignation in December 2018. Before that, he was a manager of China-Hong Kong Telelink Company Limited from 1997 to 1999. Mr. Wong joined Denway Motors Limited (previously known as Denway Investment Limited), a company whose shares were formerly listed on the Main Board of The Stock Exchange, as the vice general manager in 1993. Mr. Wong obtained a diploma in auditing from Guangzhou Radio & TV University, the PRC, in 1988. Reported Earnings • Nov 12
Second quarter 2021 earnings released: EPS HK$0.012 The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: HK$30.1m (up 103% from 2Q 2020). Net income: HK$3.91m (up HK$7.60m from 2Q 2020). Profit margin: 13% (up from net loss in 2Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has fallen by 56% per year, which means it is performing significantly worse than earnings. Aankondiging • Oct 30
Global Link Communications Holdings Limited to Report First Half, 2021 Results on Nov 10, 2020 Global Link Communications Holdings Limited announced that they will report first half, 2021 results on Nov 10, 2020 Aankondiging • Sep 19
Li Kin Shing acquired 15.85% stake in Global Link Communications Holdings Limited (SEHK:8060) from Ma Yuanguang and independent third parties. Li Kin Shing acquired 15.85% stake in Global Link Communications Holdings Limited (SEHK:8060) from Ma Yuanguang and independent third parties on January 10, 2017. Li Kin Shing acquired approximately 330 million shares out of which approximately 250 million was acquired from Ma Yuanguang and remaining were acquired from independent third parties.
Li Kin Shing completed the acquisition of 15.85% stake in Global Link Communications Holdings Limited (SEHK:8060) from Ma Yuanguang and independent third parties on January 10, 2017. Aankondiging • Aug 24
Xiao Li completed the acquisition of additional 60% majority stake in Shanghai Xunshan Information Technology Limited from Global Link Communications Holdings Limited (SEHK:8060). Xiao Li signed an agreement to acquire 60% stake in Shanghai Xunshan Information Technology Limited from Global Link Communications Holdings Limited (SEHK:8060) for HKD 24.5 million on July 27, 2020. Under the terms of the transaction, Xiao Li will pay HKD 12.548 million by way of cash and HKD 12 million by way of cancellation and offsetting Shanghai Xunshan Information Technology payment obligation under the Promissory Note. On March 31, 2020, Shanghai Xunshan Information Technology reported Turnover of HKD 13.335 million, profit before taxation of HKD 3.261 million and profit after taxation of HKD 2.9 million. The transaction is subject to customary closing conditions, including obtaining written shareholders’ approval in respect of the disposal, approval from board and all the necessary waivers, consents and approvals required to be obtained on the part of the Global Link Communications in respect of the Agreement and the transactions contemplated there under having been obtained. The Directors (including the independent non-executive Directors) have unanimously approved the Disposal Agreement and the transactions contemplated there under. As on August 14, 2020, the board of Global Link Communications recommended the transaction to the shareholders. The long stop date is October 16, 2020. Upon Completion, the net proceeds generated there from will be applied to potential investments and/or general working capital of Global Link Communications Holdings and shall thereby strengthen the cash flow of the Company.
Xiao Li completed the acquisition of additional 60% majority stake in Shanghai Xunshan Information Technology Limited from Global Link Communications Holdings Limited (SEHK:8060) on August 18, 2020. All the conditions precedent under the Disposal Agreement have been fulfilled. 
