Internal Control

Financial Reporting

Congratulations to Union Asia Enterprise Holdings Limited (stock code: 8173.HK) on its successful resumption on the GEM Board of HKSE on 14 November 2019. With regard to this resumption application, AVISTA Group is honored to be engaged in providing internal control review service.
 
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Congratulations to Union Asia Enterprise Holdings Ltd. (Stock Code: 8173.HK) on its Successful Resumption

Congratulations to Xiaocaiyuan International Holding Ltd. (0999.HK) on its successful Listing on the Mainboard of HKSE on 20 December 2024
 
Xiaocaiyuan International Holding Ltd. (“Xiaocaiyuan”) is one of the renowned self-operated chain restaurants in China’s mass Chinese cuisine market. According to Frost &amp; Sullivan, the mass Chinese cuisine market is a sub-segment of Chinese cuisine market with average spending per consumer below RMB100. Capitalizing on our deep comprehension of China’s evolving catering industry, the anticipated modernization and industrialization in the industry, and the inherent consumer demand, Xiaocaiyuan strategically ventured into the growing mass Chinese cuisine sector. Since our establishment in 2013, Xiaocaiyuan has been striving to offer consumers home-style flavor dishes and attentive services at affordable prices. As of the Latest Practicable Date, Xiaocaiyuan has 663 self-operated restaurants under operation, with a coverage of 146 cities or counties across 14 provinces in China.
 
With regard to this listing application, AVISTA Group is honored to be engaged in providing valuation services on restricted stock unit, preferred stocks and convertible bonds.
 
Congratulations again to Xiaocaiyuan International Holding Ltd. (0999.HK) on its successful listing. The issue price is HKD 8.50 per share, and the amount of funds raised is HKD 860 million.
 
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Congratulations to Xiaocaiyuan International Holding Ltd. (0999.HK) on its Successful Listing

Congratulations to Dmall Inc. (2586.HK) on its successful Listing on the Mainboard of HKSE on 6 December 2024
 
Dmall Inc. (“Dmall”) is one of the largest retail digitalization solution service providers in China, offering retail digitalization solutions to leading retailers in the local retail industry. The company has served most of the leading retail enterprises in China and has successfully expanded its business to other countries and regions outside of China. As of June 30, 2024, including Hong Kong and Macao in China, as well as Cambodia, the Philippines, Malaysia, Indonesia, Singapore, Poland, and Brunei, the company's overseas revenue has exceeded the billion-yuan mark.
 
With regard to this listing application, AVISTA Group is honored to be engaged in providing valuation services in relation to purchase price allocation analysis, goodwill impairment test, financial assets and property.
 
Congratulations again to Dmall Inc. (2586.HK) on its successful listing. The issue price is HKD 30.21 per share, and the amount of funds raised is HKD 778.6million.
 
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Congratulations to Dmall Inc. (2586.HK) on its Successful Listing

We are pleased to announce that our Managing Partner, Mr. Vincent Pang and our Director of Risk Management Advisory Services, Ms. Sabrina Lam have once again been invited by the Hong Kong Institute of Certified Public Accountants (HKICPA), for the sixth consecutive year, to serve on the Review Panel for the Best Corporate Governance (CG) and ESG Awards 2024.  Additionally, Ms. Lam has served as an organizing committee member of the Award since 2023, providing her professional knowledge and insights to the Awards. AVISTA is honored to sponsor these prestigious awards. The Awards Presentation Luncheon took place successfully at the JW Marriott Hotel Hong Kong on November 25th.
 
These awards highlight the critical importance of robust corporate governance and effective environmental, social, and governance (ESG) practices for listed companies and public sector/not-for-profit organizations, along with their investors and stakeholders. They serve as a catalyst for companies and organizations to strive for excellence in CG and ESG, encouraging them to weave these principles into their core values, strategies, and operations.
 
This year, 38 outstanding awardees were recognized, featuring leading companies in Hong Kong or even around the globe, including CLP Holdings Limited, MTR Corporation Limited, COSCO SHIPPING Ports Limited, Alibaba Group Holding Limited, Geely Automobile Holdings Limited, WuXi Biologics (Cayman) Inc, among others.
 
As a premier provider of CG and ESG advisory services, AVISTA is thrilled to witness significant progress in CG and ESG reporting standards among corporations. We look forward to seeing more companies raise their standards in the future. Our commitment to sustainability remains steadfast, and we will continue to offer our support in this important area.
 
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As a Reviewer and a Sponsor of the Best Corporate Governance (CG) and ESG Awards 2024 Organized by Hong Kong Institute of Certified Public Accountants (HKICPA)