Announcement • Apr 22
China Information Technology Development Limited has filed a Follow-on Equity Offering in the amount of HKD 10.326573 million. China Information Technology Development Limited has filed a Follow-on Equity Offering in the amount of HKD 10.326573 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 57,369,850
Price\Range: HKD 0.18
Transaction Features: Rights Offering Reported Earnings • Mar 28
Full year 2025 earnings released: HK$1.11 loss per share (vs HK$0.56 loss in FY 2024) Full year 2025 results: HK$1.11 loss per share (further deteriorated from HK$0.56 loss in FY 2024). Revenue: HK$34.5m (down 17% from FY 2024). Net loss: HK$99.5m (loss widened 164% from FY 2024). Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 51% per year, which means it is significantly lagging earnings. New Risk • Mar 17
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 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 Risks Share price has been highly volatile over the past 3 months (20% average weekly change). Earnings have declined by 8.1% per year over the past 5 years. Shareholders have been substantially diluted in the past year (57% increase in shares outstanding). Market cap is less than US$10m (HK$33.8m market cap, or US$4.32m). Minor Risk Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Announcement • Mar 05
China Information Technology Development Limited to Report Fiscal Year 2025 Results on Mar 26, 2026 China Information Technology Development Limited announced that they will report fiscal year 2025 results on Mar 26, 2026 Announcement • Dec 30
Sin Ka Ka entered into the Disposal Agreement to acquire 8.74% stake in Global Engine Group Holding Limited (NasdaqCM:GLE) from China Information Technology Development Limited (SEHK:8178) for HKD 4 million. Sin Ka Ka entered into the Disposal Agreement to acquire 8.74% stake in Global Engine Group Holding Limited (NasdaqCM:GLE) from China Information Technology Development Limited (SEHK:8178) for HKD 4 million on December 29, 2025. A cash consideration of HKD 4 million will be paid by the buyer. As part of consideration, HKD 4 million is paid towards common equity of Global Engine Group Holding Limited. Announcement • Dec 06
China Information Technology Development Limited has completed a Follow-on Equity Offering in the amount of HKD 3.92 million. China Information Technology Development Limited has completed a Follow-on Equity Offering in the amount of HKD 3.92 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 14,000,000
Price\Range: HKD 0.28
Discount Per Security: HKD 0.0028
Transaction Features: Subsequent Direct Listing Announcement • Nov 19
China Information Technology Development Limited has filed a Follow-on Equity Offering in the amount of HKD 3.92 million. China Information Technology Development Limited has filed a Follow-on Equity Offering in the amount of HKD 3.92 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 14,000,000
Price\Range: HKD 0.28
Discount Per Security: HKD 0.0028
Transaction Features: Subsequent Direct Listing New Risk • Nov 04
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 38% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (22% average weekly change). Earnings have declined by 8.1% per year over the past 5 years. Shareholders have been substantially diluted in the past year (38% increase in shares outstanding). Market cap is less than US$10m (HK$35.8m market cap, or US$4.60m). New Risk • Oct 09
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: HK$57.9m (US$7.44m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (20% average weekly change). Earnings have declined by 8.1% per year over the past 5 years. Market cap is less than US$10m (HK$57.9m market cap, or US$7.44m). New Risk • Sep 29
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 Earnings have declined by 8.1% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Market cap is less than US$100m (HK$112.8m market cap, or US$14.5m). Reported Earnings • Aug 29
First half 2025 earnings released: HK$0.76 loss per share (vs HK$0.12 loss in 1H 2024) First half 2025 results: HK$0.76 loss per share (further deteriorated from HK$0.12 loss in 1H 2024). Revenue: HK$20.8m (up 3.9% from 1H 2024). Net loss: HK$55.6m (loss widened HK$47.9m from 1H 2024). Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Announcement • Aug 12
China Information Technology Development Limited to Report First Half, 2025 Results on Aug 26, 2025 China Information Technology Development Limited announced that they will report first half, 2025 results on Aug 26, 2025 Announcement • May 21
China Information Technology Development Limited, Annual General Meeting, Jun 24, 2025 China Information Technology Development Limited, Annual General Meeting, Jun 24, 2025, at 11:00 China Standard Time. Location: unit 3308, 33/f., millennium city 6, 392 kwun tong road, kwun tong., Hong Kong Board Change • May 06
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Non-Executive Director Wun Chu was the last independent director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Reported Earnings • Mar 30
Full year 2024 earnings released: HK$0.56 loss per share (vs HK$0.35 loss in FY 2023) Full year 2024 results: HK$0.56 loss per share (further deteriorated from HK$0.35 loss in FY 2023). Revenue: HK$41.5m (down 16% from FY 2023). Net loss: HK$37.6m (loss widened 80% from FY 2023). Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. New Risk • Mar 15
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. 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 Less than 1 year of cash runway based on free cash flow trend (-HK$14m free cash flow). Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Shareholders have been diluted in the past year (19% increase in shares outstanding). Revenue is less than US$5m (HK$29m revenue, or US$3.7m). Market cap is less than US$100m (HK$219.8m market cap, or US$28.3m). Announcement • Mar 06
China Information Technology Development Limited to Report Fiscal Year 2024 Results on Mar 27, 2025 China Information Technology Development Limited announced that they will report fiscal year 2024 results on Mar 27, 2025 New Risk • Nov 19
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -HK$14m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risk Less than 1 year of cash runway based on free cash flow trend (-HK$14m free cash flow). Minor Risks Share price has been volatile over the past 3 months (15% average weekly change). Shareholders have been diluted in the past year (19% increase in shares outstanding). Revenue is less than US$5m (HK$29m revenue, or US$3.7m). Market cap is less than US$100m (HK$284.3m market cap, or US$36.5m). Announcement • Nov 01
China Information Technology Development Limited Appoints So Han Meng Julian as Executive Director The board of directors of China Information Technology Development Limited announced the following change to the Board with effect from 1 November 2024. Mr. So Han Meng Julian (‘Mr. So’) has been appointed as an executive Director of the Company (the ‘Executive Director’) with effect from 1 November 2024. Mr. So Han Meng Julian, aged 52, obtained his degree of Bachelor of Laws from The National University of Singapore. Mr. So is qualified as a solicitor in Singapore, England and Wales and Hong Kong. He possesses ample experiences in the financial industry, specialising in banking, structured finance, securitisation and derivatives. He is currently Regulatory Consultant of Prosynergy Consulting Limited, a Hong Kong boutique consulting firm that acts as the trusted advisor of financial institutions, fintechs and other companies. He is also Group Chief Executive Officer of Invess Inc., a decentralized financial institution with a vision to build an investment bank, an asset management company and an exchange using decentralisation technologies. Mr. So was the Chief Advisor to the Board of the Company from October 2023 to October 2024. He was also the Non Executive Vice Chairman of Marvion Inc, the issued shares of which are traded over the counter from August 2021 to September 2024. He was the Group Chief Executive Officer of XBE from July 2021 to September 2024. He had also worked in various prestigious international law firms in Singapore and Hong Kong. Reported Earnings • Aug 23
First half 2024 earnings released: HK$0.12 loss per share (vs HK$0.071 loss in 1H 2023) First half 2024 results: HK$0.12 loss per share (further deteriorated from HK$0.071 loss in 1H 2023). Revenue: HK$20.1m (down 50% from 1H 2023). Net loss: HK$7.69m (loss widened 103% from 1H 2023). Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has fallen by 20% per year, which means it is significantly lagging earnings. Board Change • Aug 08
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 2 independent directors. 5 non-independent directors. Independent Non-Executive Director Edmund Wong was the last independent director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Announcement • Aug 08
China Information Technology Development Limited to Report First Half, 2024 Results on Aug 22, 2024 China Information Technology Development Limited announced that they will report first half, 2024 results on Aug 22, 2024 New Risk • Jul 28
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 19% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Less than 1 year of cash runway based on free cash flow trend (-HK$20m free cash flow). Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Shareholders have been diluted in the past year (19% increase in shares outstanding). Market cap is less than US$100m (HK$95.2m market cap, or US$12.2m). New Risk • Jul 08
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 Less than 1 year of cash runway based on free cash flow trend (-HK$20m free cash flow). Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Market cap is less than US$100m (HK$85.9m market cap, or US$11.0m). Board Change • Jul 04
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Non-Executive Director Edmund Wong was the last independent director to join the board, commencing their role in 2017. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Jul 02
China Information Technology Development Limited Appoints Chu Joshua Allen Kiu Wah as Executive Director China Information Technology Development Limited announced that Mr. Chu Joshua Allen Kiu Wah was appointed as an executive Director of the Company. Mr. Chu Joshua Allen Kiu Wah, aged 37, is a practicing solicitor qualified in Hong Kong. Mr. Chu is currently engaged as a law lecturer at the University of Hong Kong School of Professional and Continuing Education and a consultant of Hauzen LLP. He also serves as the Group Chief Risk Officer at Coinllectibles Inc. and Marvion Inc. since May 2022, as well as a senior consultant at Prosynergy. Mr. Chu also serves as the current Co-Chair of the Hong Kong Web3 Association, a non-profit association dedicated to promoting education for responsible blockchain and Web3 tech integration in traditional businesses. Mr. Chu has over 6 years of practice in the legal profession in Hong Kong, with broad practice areas covering dispute resolution, cybersecurity, and technology law across diverse fields such as blockchain, tokenization and Web3. Mr. Chu graduated from the University of Texas at Dallas, USA, with a Bachelor of Science degree in Business Administration and Management in May 2009 and a Master of Science degree in Healthcare Management, Business Administration and Management in May 2010. Subsequently, Mr. Chu obtained his Juris Doctor degree (Distinction) and Postgraduate Certificate in Laws from the City University of Hong Kong in October 2014 and July 2015, respectively. Mr. Chu was officially admitted as a qualified solicitor in Hong Kong since March 2018 and is a member of the Law Society of Hong Kong. Announcement • Jun 08
China Information Technology Development Limited (SEHK:8178) agreed to acquire Popsible Limited from Ngan Chiu Fai and Shih Mei Ling for HKD11.5 million. China Information Technology Development Limited (SEHK:8178) agreed to acquire Popsible Limited from Ngan Chiu Fai and Shih Mei Ling for HKD11.5 million on June 6, 2024. The consideration consists of 11.5 million common equity of China Information Technology Development Limited to be issued for common equity of Popsible Limited. As part of consideration, an undisclosed value is paid towards common equity of Popsible Limited. For the period ending December 31, 2023, Popsible Limited reported total revenue of HKD 6.15 million and net income of HKD 1.95 million. As of December 31, 2023, Popsible Limited reported total assets of HKD 1.93 million. The transaction is subject to approval by regulatory board / committee and consummation of due diligence investigation. New Risk • May 24
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: HK$77.8m (US$9.96m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-HK$20m free cash flow). Market cap is less than US$10m (HK$77.8m market cap, or US$9.96m). Announcement • Mar 06
China Information Technology Development Limited to Report Fiscal Year 2023 Results on Mar 25, 2024 China Information Technology Development Limited announced that they will report fiscal year 2023 results on Mar 25, 2024 Recent Insider Transactions • Dec 30
Chairman & CEO recently bought HK$182k worth of stock On the 28th of December, King Shiu Wong bought around 86k shares on-market at roughly HK$2.11 per share. This transaction amounted to 17% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth HK$1.3m. King Shiu has been a buyer over the last 12 months, purchasing a net total of HK$514k worth in shares. Recent Insider Transactions • Dec 15
Insider recently bought HK$1.3m worth of stock On the 12th of December, Rong Zhang bought around 606k shares on-market at roughly HK$2.07 per share. This transaction amounted to 3.5% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought HK$9.6m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Nov 14
Chairman & CEO recently bought HK$100k worth of stock On the 10th of November, King Shiu Wong bought around 42k shares on-market at roughly HK$2.38 per share. This transaction amounted to 12% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth HK$264k. This was King Shiu's only on-market trade for the last 12 months. Announcement • Oct 20
China Information Technology Development Limited to Report Nine Months, 2023 Results on Nov 09, 2023 China Information Technology Development Limited announced that they will report nine months, 2023 results on Nov 09, 2023 Announcement • Sep 27
China Information Technology Development Limited Appoints Julian So as Head of the Board of Advisers China Information Technology Development Limited announced significant developments in its leadership and strategic advisory team to reinforce CITD's commitment to innovation and excellence while expanding its industry network through key associations. Julian So - Head of the Board of Advisers: A legal expert qualified in three jurisdictions and possessing extensive experience in the finance industry, Mr. Julian So currently serves as the Group CEO of XBE and Chairman at GIANT (Global Industry Alliance for Native Token). As Head of the Board of Advisers, Mr. Julian So will play a pivotal role in overseeing CITD's progress and ensuring that the company's innovations are effectively harnessed for the commercialization and practical application across various industries. He brings a wealth of knowledge and experience to guide CITD's in the dynamic AI and Web3 landscape while ensuring strategic alignment and effective governance. Notably, Mr. So has voluntarily opted for a symbolic compensation of USD1 per year for his role as Head of the Board of Advisers. This decision underscores his deep commitment to CITD's mission and is a clear a testament to his dedication towards driving responsible technological advancements. Announcement • Sep 20
China Information Technology Development Limited (SEHK:8178) entered into the Sale and Purchase Agreement to acquire Autostereoscopic 3D Limited from group of shareholders for approximately HKD 110 million. China Information Technology Development Limited (SEHK:8178) entered into the Sale and Purchase Agreement to acquire Autostereoscopic 3D Limited from group of shareholders for approximately HKD 110 million on September 19, 2023. The consideration will be settled by (i) the Promissory Notes in the aggregate principal amount of HK$ 75,985,677.28; and (ii) the allotment and issue of a total of 11,117,742 Consideration Shares by the Company. The Promissory Notes are payable in ten Instalments after completion. New Risk • Aug 10
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -HK$19m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-HK$19m free cash flow). Earnings have declined by 0.2% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (20% increase in shares outstanding). Market cap is less than US$100m (HK$199.5m market cap, or US$25.5m). Announcement • Jul 18
China Information Technology Development Limited and Xtreme Business Enterprises Drive Innovation with World's First Dot Standard 3+2 STO and NSTO China Information Technology Development Limited together with Xtreme Business Enterprises (XBE) announced the conclusion of the successful launch of the world's first Digital Ownership Token (DOT) Standard 3+2 Security Token Offering (STO) and Non-Security Token Offering (NSTO). This ground-breaking collaboration signifies a significant milestone in the development of Web 5 and the evolution of blockchain assets. Aligned with China's 14th Five-Year Plan and Hong Kong's vision of becoming an international innovation and technology hub, the government has introduced measures to foster the growth of Web 3, blockchain assets, and smart city initiatives. The rising demand for digital ownership verification has paved the way for innovative solutions in the market. XBE, a leader in the industry, is proud to have introduced the DOT Standard 3+2 STO and NSTO, both leveraging on XBE's proprietary DOT technology. This offering sets the stage for the future development of Web 5 and blockchain assets, driving efficiency and unlocking new economic possibilities in both the digital and the physical worlds. Unlike conventional digital tokens, XBE's revolutionary DOT employs blockchain technology specifically designed to authenticate legal documents and smart contracts, providing legally enforceable ownership of tangible and tangible assets via tokenization. The versatility of DOTs allows their application across various sectors, including intellectual property, real estate, memberships and much more. DOT Standard 3-2 STO provides greater certainty, efficiency and security: DOT Standard 3+2STO uses the DOT standard to record bond documents and corresponding smart contracts into the bond Security Token. As such, the token itself becomes the security - allowing token holders to directly hold and control their own assets, while enhancing the certainty, security, efficiency and transparency of security tokens. As such, the token themselves becomes the security - allowing token holders to directly hold and control their Own assets, while enhancing the assurance, security, efficiency and transparency the security tokens. DOT also eliminates the need for a third-party custodian and complex trust structures to hold onto the underlying asset, mitigating risks often found in the traditional securities market. XBE leverages DOT standard STO to provide a more advanced, efficient, secure and cost-effective alternative to bond offerings. In addition to using the DOT standard, 3+2 STO also includes three professional reviews (i.e. Security Token, Legal and Regulatory Reviews) and two opinions (i.e. Legal and Regulatory Opinions) to provide greater certainty and security. DOT Standard 3 +2 STO fully implements and adopts blockchain and smart contract technologies. The clear record of bond ownership effectively protects the interests of investors, providing a more secure, efficient, transparent and innovative bond offering approach for the capital markets. Announcement • May 26
China Information Technology Development Limited, Annual General Meeting, Jun 29, 2023 China Information Technology Development Limited, Annual General Meeting, Jun 29, 2023, at 11:00 China Standard Time. Location: Unit 3308, 33/F., Millennium City 6 392 Kwun Tong Road Kwun Tong Hong Kong Agenda: To receive, consider and approve the audited consolidated financial statements and the reports of the directors and auditors of the Company for the year ended 31 December 2022; to re-elect Mr. Chang Ki Sum Clark as executive Director; to re-elect Hon. Li Sai Wing, MH as non-executive Director; to re-elect Mr. Wong Hoi Kuen as independent non-executive Director; to authorise the board of Directors to fix the Directors' remuneration; to re-appoint ZHONGHUI ANDA CPA Limited as the auditors of the Company and to authorise the board of Directors to fix the auditor's remuneration; and to consider other matters. Recent Insider Transactions • Mar 04
Insider recently bought HK$622k worth of stock On the 2nd of March, Rong Zhang bought around 454k shares on-market at roughly HK$1.37 per share. This transaction amounted to 3.7% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought HK$13m more in shares than they have sold in the last 12 months. Announcement • Oct 27
China Information Technology Development Limited Appoints Hon. Li Sai Wing, MH as Non-Executive Director The board of directors of China Information Technology Development Limited announced the following changes of the Company with effect from 26 October 2022: Hon. Li Sai Wing, MH ("Hon. Li") has been appointed as a non-executive Director of the Company ("Non-Executive Director") with effect from 26 October 2022. Hon. Li Sai Wing, MH, aged 39, has been appointed as Non-Executive Director with effect from 26 October 2022. Hon. Li has obtained his bachelor degree of administrative management from Jinan University and master degree of public administration from Sun Yat-Sen University. He is currently a member of the Legislative Council (New Territories South East) of Hong Kong since 2021. Currently, he is the Vice Chairman of Qingyuan Overseas Association and Federation of New Territories Youth respectively, an executive committee member of Democratic Alliance for the Betterment and Progress of Hong Kong and Hong Kong Volunteers Federation. Hon. Li is the Chairman of Ma On Shan North District Area Committee and also a committee member of HKSAR Government Election Committee, District Fight Crime Committee (Shatin District) and CLP Eco Building Fund. Hon Li is a Hong Kong Committee Member of Guangzhou Panyu District CPPCC Committee. He is a member of The Lord Wilson Heritage Trust Council. He is also a social virtuous for Shatin Rural Committee and the Vice Chairman of New Territories Association of Societies. He was a district council member of Shatin District from 2012 to 2019. He was the PR Project Supervisor of A-World Consulting Limited. Announcement • Oct 20
China Information Technology Development Limited to Report Q3, 2022 Results on Nov 09, 2022 China Information Technology Development Limited announced that they will report Q3, 2022 results on Nov 09, 2022 Announcement • Aug 07
China Information Technology Development Limited Provides Earnings Guidance for the Six Months Ended 30 June 2022 China Information Technology Development Limited provided earnings guidance for the six months ended 30 June 2022. For the six months, it is expected that the Group will record a loss attributable to the owners of the Company of not less than HKD 20,000,000. Announcement • Jul 21
China Information Technology Development Limited to Report Q2, 2022 Results on Aug 09, 2022 China Information Technology Development Limited announced that they will report Q2, 2022 results on Aug 09, 2022 Recent Insider Transactions • Jun 30
Insider recently bought HK$365k worth of stock On the 22nd of June, Rong Zhang bought around 3m shares on-market at roughly HK$0.14 per share. In the last 3 months, they made an even bigger purchase worth HK$9.3m. Insiders have collectively bought HK$12m more in shares than they have sold in the last 12 months. Announcement • May 28
China Information Technology Development Limited, Annual General Meeting, Jun 30, 2022 China Information Technology Development Limited, Annual General Meeting, Jun 30, 2022, at 11:00 China Standard Time. Location: Unit 3308, 33/F., Millennium City 6, 392 Kwun Tong Road Kwun Tong Hong Kong Agenda: To receive, consider and approve the audited consolidated financial statements and the reports of the directors (the "Director(s)") and auditors of the Company for the year ended 31 December 2021; to re-elect the executives; to authorise the board of Directors to fix the Directors' remuneration; to re-appoint ZHONGHUI ANDA CPA Limited as the auditors of the Company and to authorise the board of Directors to fix the auditor's remuneration; and to consider the other resolutions. Recent Insider Transactions • Apr 12
Chairman & CEO recently bought HK$310k worth of stock On the 8th of April, King Shiu Wong bought around 2m shares on-market at roughly HK$0.15 per share. This was the largest purchase by an insider in the last 3 months. This was King Shiu's only on-market trade for the last 12 months. Announcement • Mar 31
China Information Technology Development Limited has completed a Follow-on Equity Offering in the amount of HKD 25.7356 million. China Information Technology Development Limited has completed a Follow-on Equity Offering in the amount of HKD 25.7356 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 171,570,664
Price\Range: HKD 0.15
Discount Per Security: HKD 0.006
Transaction Features: Subsequent Direct Listing Announcement • Mar 23
China Information Technology Development Limited to Report Fiscal Year 2021 Results on Mar 31, 2022 China Information Technology Development Limited announced that they will report fiscal year 2021 results on Mar 31, 2022 Recent Insider Transactions • Sep 03
Insider recently bought HK$572k worth of stock On the 31st of August, Rong Zhang bought around 2m shares on-market at roughly HK$0.27 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought HK$3.5m more in shares than they have sold in the last 12 months. Announcement • Aug 17
China Information Technology Development Limited has completed a Follow-on Equity Offering in the amount of HKD 14 million. China Information Technology Development Limited has completed a Follow-on Equity Offering in the amount of HKD 14 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 56,000,000
Price\Range: HKD 0.25
Discount Per Security: HKD 0.005
Transaction Features: Subsequent Direct Listing Announcement • Jul 16
China Information Technology Development Limited (SEHK:8178) completed the acquisition of 51% stake in Logic Network Limited. China Information Technology Development Limited (SEHK:8178) entered into an agreement to acquire 51% stake in Logic Network Limited for HKD 1.7 million on May 12, 2021. The consideration includes issue of 7 million shares of China Information Technology Development Limited. The transaction is subject to completion of due diligence by China Information Technology Development Limited and the approval for the listing of, and permission to deal in the consideration shares by the Stock Exchange.
China Information Technology Development Limited (SEHK:8178) completed the acquisition of 51% stake in Logic Network Limited on July 15, 2021. As per the transaction, all of the conditions under the Agreement have been fulfilled and China Information Technology Development Limited (SEHK:8178) allotted and issued 7 million consideration shares as purchase consideration. Announcement • Jun 18
China Information Technology Development Limited has completed a Follow-on Equity Offering in the amount of HKD 4.784 million. China Information Technology Development Limited has completed a Follow-on Equity Offering in the amount of HKD 4.784 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 20,800,000
Price\Range: HKD 0.23
Discount Per Security: HKD 0.0046
Transaction Features: Subsequent Direct Listing Recent Insider Transactions • Jun 05
Insider recently bought HK$1.8m worth of stock On the 2nd of June, Rong Zhang bought around 5m shares on-market at roughly HK$0.36 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought HK$3.0m more in shares than they have sold in the last 12 months. Announcement • May 14
China Information Technology Development Limited (SEHK:8178) entered into an agreement to acquire 51% stake in Logic Network Limited for HKD 3.5 million. China Information Technology Development Limited (SEHK:8178) entered into an agreement to acquire 51% stake in Logic Network Limited for HKD 3.5 million on May 12, 2021. The consideration includes issue of 7 million shares of China Information Technology Development Limited. The transaction is subject to completion of due diligence by China Information Technology Development Limited and the approval for the listing of, and permission to deal in the consideration shares by the Stock Exchange. Executive Departure • Apr 08
Executive Director has left the company On the 31st of March, Kui Shing Wong's tenure as Executive Director ended after 6.0 years in the role. As of December 2020, Kui Shing personally held 17.67m shares (HK$8.9m worth at the time). A total of 2 executives have left over the last 12 months. Announcement • Mar 10
China Information Technology Development Limited to Report Fiscal Year 2020 Results on Mar 26, 2021 China Information Technology Development Limited announced that they will report fiscal year 2020 results on Mar 26, 2021 Is New 90 Day High Low • Mar 05
New 90-day low: HK$0.29 The company is down 57% from its price of HK$0.67 on 04 December 2020. The Hong Kong market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Software industry, which is up 22% over the same period. Is New 90 Day High Low • Feb 10
New 90-day low: HK$0.32 The company is down 52% from its price of HK$0.67 on 12 November 2020. The Hong Kong market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Software industry, which is up 86% over the same period. Is New 90 Day High Low • Jan 26
New 90-day low: HK$0.35 The company is down 53% from its price of HK$0.74 on 28 October 2020. The Hong Kong market is up 21% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Software industry, which is up 82% over the same period. Is New 90 Day High Low • Jan 18
New 90-day high: HK$0.48 The company is up 1,555% from its price of HK$0.029 on 20 October 2020. The Hong Kong market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is up 49% over the same period. Announcement • Jan 06
China Information Technology Development Limited Announces Resignation of Mr. Chan Kai Leung as Executive Director The board of directors of China Information Technology Development Limited announced that Mr. Chan Kai Leung has resigned as an executive director of the Company with effect from 5 January 2021 to concentrate on his profession and career. Mr. Chan has confirmed that he has no disagreement with the Board and there are no other matters relating to his resignation that need to be brought to the attention of the shareholders of the Company. Recent Insider Transactions • Dec 05
Insider recently bought HK$1.2m worth of stock On the 3rd of December, Rong Zhang bought around 43m shares on-market at roughly HK$0.027 per share. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold HK$1.0m more in shares than they bought in the last 12 months. Announcement • Jul 21
China Information Technology Development Limited to Report First Half, 2020 Results on Aug 07, 2020 China Information Technology Development Limited announced that they will report first half, 2020 results on Aug 07, 2020