Greatwalle : Announcements and Notices -

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited (the "Stock Exchange") take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

GREATWALLE INC.

長城匯理公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 8315)

ANNOUNCEMENT OF ANNUAL RESULTS

FOR THE YEAR ENDED 31 MARCH 2022

CHARACTERISTICS OF GEM OF THE STOCK EXCHANGE

GEM has been positioned as a market designed to accommodate small and mid-sized companies to which a higher investment risk may be attached than other companies listed on the Stock Exchange. Prospective investors should be aware of the potential risks of investing in such companies and should make the decision to invest only after due and careful consideration.

Given that the companies listed on GEM are generally small and mid-sized companies, there is a risk that securities traded on GEM may be more susceptible to high market volatility than securities traded on the Main Board and no assurance is given that there will be a liquid market in the securities traded on GEM.

This announcement, for which the Directors collectively and individually accept full responsibility, includes particulars given in compliance with the Rules Governing the Listing of Securities on GEM of the Stock Exchange (the "GEM Listing Rules") for the purpose of giving information with regard to the Company. The Directors, having made all reasonable enquiries, confirm that to the best of their knowledge and belief the information contained in this announcement is accurate and complete in all material respects and not misleading or deceptive, and there are no other matters the omission of which would make any statement herein or this announcement misleading.

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The board (the "Board") of directors (the "Directors") of Greatwalle Inc. (the "Company") is pleased to announce the audited results of the Company and its subsidiaries (together, the "Group") for the year ended 31 March 2022. This announcement, containing the full text of the Annual Report 2021/22 of the Company, complies with the relevant requirements of the GEM Listing Rules on the GEM of the Stock Exchange in relation to information to accompany preliminary announcement of annual results.

By order of the Board

Greatwalle Inc.

Song Xiaoming

Chairman and Executive Director

Hong Kong, 24 June 2022

As at the date of this announcement, the executive Directors are Mr. Song Xiaoming, Ms. Song Shiqing and Mr. Lyu Xingyuan; the non-executive Director is Mr. Chung Man Lai; and the independent non-executive Directors are Mr. Li Zhongfei, Mr. Zhao Jinsong and Mr. Liu Chengwei.

This announcement will remain on the Stock Exchange's website at www.hkexnews.hk on the "Latest Listed Company Information" page for at least 7 days from the date of its publication and on the Company's website at www.kingforce.com.hk.

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CONTENTS
Corporate Information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	3
Chairman's Statement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	4
Management Discussion and Analysis . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	5
Corporate Governance Report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	15
Biographies of Directors and Senior Management . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	26
Reports of the Directors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	29
Independent Auditor's Report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	46
Consolidated Statement of Profit or Loss and Other Comprehensive Income . . . . . . . . . . . . . . . . . . . . . . . . . .	50
Consolidated Statement of Financial Position . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	51
Consolidated Statement of Changes in Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	53
Consolidated Statement of Cash Flows . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	54
Notes to the Consolidated Financial Statements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	56
Five Years' Financial Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	126

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CORPORATE INFORMATION

DIRECTORS

Executive Directors:

Mr. Song Xiaoming (Chairman)

Ms. Song Shiqing

Mr. Lyu Xingyuan (Appointed on 27 April 2022) Mr. Hon Hoi Chuen (Ceased on 12 July 2021) Ms. Lin Shuxian (Resigned on 8 April 2022)

Non-executive Director:

Mr. Chung Man Lai

Independent Non-executive Directors:

Mr. Li Zhongfei

Mr. Zhao Jinsong

Mr. Liu Chengwei (Appointed on 10 September 2021) Ms. Guan Yan (Ceased on 12 July 2021)

AUDIT COMMITTEE

Mr. Zhao Jinsong (Chairman)

Mr. Li Zhongfei

Mr. Liu Chengwei (Appointed on 10 September 2021) Ms. Guan Yan (Ceased on 12 July 2021)

REMUNERATION COMMITTEE

Mr. Li Zhongfei (Chairman)

Mr. Zhao Jinsong

Mr. Liu Chengwei (Appointed on 10 September 2021) Ms. Guan Yan (Ceased on 12 July 2021)

NOMINATION COMMITTEE

Mr. Song Xiaoming (Chairman)

Mr. Zhao Jinsong

Mr. Li Zhongfei

COMPANY SECRETARY

Ms. Li Yan (Appointed on 1 February 2022)

Ms. Lam Yuen Ling Eva (Resigned on 1 February 2022)

AUTHORISED REPRESENTATIVES

Ms. Song Shiqing

Mr. Song Xiaoming (Appointed on 12 July 2021) Mr. Hon Hoi Chuen (Ceased on 12 July 2021)

COMPLIANCE OFFICER

Ms. Song Shiqing

INDEPENDENT AUDITOR

BDO Limited

LEGAL ADVISER

As to Hong Kong Laws

Tian Yuan Law Firm LLP

Suites 3304-3309, 33/F

Jardine House

One Connaught Place

Central

Hong Kong

REGISTERED OFFICE

Windward 3

Regatta Office Park

P.O. Box 1350

Grand Cayman

KY1-1108

Cayman Islands

HEADQUARTERS AND PRINCIPAL PLACE OF BUSINESS IN HONG KONG

Room 2008, 20/F.

West Tower, Shun Tak Centre

200 Connaught Road Central

Hong Kong

PRINCIPAL SHARE REGISTRAR AND TRANSFER OFFICE IN THE CAYMAN ISLANDS

Ocorian Trust (Cayman) Limited

Windward 3

Regatta Office Park

P.O. Box 1350

Grand Cayman

KY1-1108

Cayman Islands

BRANCH SHARE REGISTRAR AND TRANSFER OFFICE IN HONG KONG

Tricor Investor Services Limited

Level 54

Hopewell Centre

183 Queen's Road East

Hong Kong

PRINCIPAL BANKER

Bank of China (Hong Kong) Limited

COMPANY WEBSITE

www.kingforce.com.hk

STOCK CODE

8315

Greatwalle Inc. • Annual Report 2021/22 3

CHAIRMAN'S STATEMENT

Dear Shareholders,

On behalf of the board (the "Board") of directors (the "Directors") of Greatwalle Inc. (the "Company") and its subsidiaries (collectively known as the "Group"), it is my great pleasure to present to the shareholders the annual report of the Company for the year ended 31 March 2022 (the "Year").

The ongoing outbreak of COVID-19 during the Year has had an unprecedented impact on the economies of Hong Kong and the mainland China, where strict epidemic prevention measures are still required to be taken so far. In light of this, the Group adhered to the general keynote of seeking progress while maintaining stability. After a year of vigorous development, the security guarding and property management services in the mainland China has stablised, and efforts have been made to enhance extensive cooperation in industrial parks, schools and other areas. Additionally, the Company has improved its consolidated statement of financial position, consolidated statement of changes in equity and the consolidated statement cash flows through share consolidation during the Year, the Group's asset and liability structure was further optimised and secured a better liquidity. Meanwhile, the Group adopted a prudent expenditure policy, and the total expenditure decreased by 6% over the last year. Due to the adverse impact of the outbreak of COVID-19 and the uncertain external environment, the Group's asset management business lagged behind slightly. The preliminary operation of certain projects is advancing in an orderly manner, and potential acquisition targets have been identified.

To further enhance the Group's core competitiveness, in the long run, the Group has the plan to extend its security guarding and property management services in the mainland China through construction of vocational schools, production and education integration bases. Meanwhile, the Group will continue to increase the scale of fund issuance and continuously strengthen the comprehensive competitiveness of the Company in the field of asset management services.

I would like to take this opportunity to express my sincere gratitude to the management team and all employees for their valuable contributions and dedicated service, especially in the tough times of the epidemic. In addition, I am grateful for the strong support of all business partners and shareholders of the Group. Looking forward, the year 2022 is an important year for the national "14th Five-Year" Plan, and it is also a critical year for the Company to start a new journey for development. Despite many challenges, the Group will forge ahead, steadily promote the transformation of its principal business, and build Greatwalle into a renowned investment holding company in the industry, so as to return to customers, society and shareholders with better performance.

Song Xiaoming

Chairman

24 June 2022

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