Greatwalle : Announcements and Notices -

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited 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 FIRST QUARTERLY RESULTS

FOR THE THREE MONTHS ENDED 30 JUNE 2022

The board (the "Board") of directors (the "Directors") of Greatwalle Inc. (the "Company") is pleased to announce the first quarterly results of the Company and its subsidiaries for the three months ended 30 June 2022. This announcement, containing the full text of the First Quarterly Report 2022/23 of the Company, complies with the relevant requirements of the Rules Governing the Listing of Securities on GEM of The Stock Exchange of Hong Kong Limited (the "GEM Listing Rules") in relation to information to accompany preliminary announcement of first quarterly results.

By order of the Board

Greatwalle Inc.

Song Xiaoming

Chairman and Executive Director

Hong Kong, 12 August 2022

As at the date of this announcement, the executive Directors are Mr. Song Xiaoming, Ms. Song Shiqing, Mr. Su Congyue; 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, for which the Directors collectively and individually accept full responsibility, includes particulars given in compliance with 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.

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 website of the Company at www.kingforce.com.hk.

CHARACTERISTICS OF GEM OF THE STOCK EXCHANGE OF HONG KONG LIMITED (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.

Hong Kong Exchanges and Clearing Limited and the Stock Exchange take no responsibility for the contents of this report, 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 report.

This report, for which the directors (the "Directors") of Greatwalle Inc. (the "Company" and together with its subsidiaries, the "Group") 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 report 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 report misleading.

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE THREE MONTHS ENDED 30 JUNE 2022

		For the three months ended
		30 June
	Notes	2022		2021
		HK$'000		HK$'000
		(Unaudited)		(Unaudited)
Revenue	2	19,832		14,854
Cost of services rendered		(18,750)		(14,589)
Gross profit		1,082		265
Other income	3	621		96
Administrative expenses		(5,662)		(4,978)
Finance costs	4	(776)		(742)
Loss before income tax	5	(4,735)		(5,359)
Income tax expense	6	(1)		13
Loss for the period		(4,736)		(5,346)
Other comprehensive income that may be
reclassified subsequently to profit or loss:
Exchange difference on translation		(3,198)
of financial statements of foreign operations			1,199
Other comprehensive income for the period		(3,198)		1,199
Total comprehensive income for the period		(7,934)		(4,147)
Loss for the period attributable to:		(4,636)
Owners of the Company			(5,081)
Non-controlling interests		(100)		(265)
		(4,736)		(5,346)
Total comprehensive income
for the period attributable to:		(7,817)
Owners of the Company			(3,877)
Non-controlling interests		(117)		(270)
		(7,934)		(4,147)
		HK cents		HK cents
				(Restated)
Loss per share for loss attributable to owners of
the Company	8	(0.8)
- Basic and diluted			(1.45)

Greatwalle Inc. • 1st Quarterly Report 2022/23 1

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE THREE MONTHS ENDED 30 JUNE 2022

				Share		Foreign			Non-	(Capital
		Share	Share	option	Merger	exchange	Accumulated		controlling	deficiency)/
		capital	premium	reserve	reserve	reserve	losses	Total	interests	Total equity
		HK$'000	HK$'000	HK$'000	HK$'000	HK$'000	HK$'000	HK$'000	HK$'000	HK$'000
At 1 April 2021 (audited)	16,618	169,485	8,339	(5,270)	1,400	(193,910)	(3,338)	(883)	(4,221)
Loss for the period	-	-	-	-	-	(5,081)	(5,081)	(265)	(5,346)
Other comprehensive income:
Exchange difference on
translation of financial
statements for foreign
operations	-	-	-	-	1,204	-	1,204	(5)	1,199
Total comprehensive
income for the period	-	-	-	-	1,204	(5,081)	(3,877)	(270)	(4,147)
At 30 June 2021 (unaudited)		16,618	169,485	8,339	(5,270)	2,604	(198,991)	(7,215)	(1,153)	(8,368)
At 1 April 2022 (audited)	29,072	224,877	7,241	(5,270)	3,771	(225,928)	33,763	(2,828)	30,935
Loss for the period	-	-	-	-	-	(4,636)	(4,636)	(100)	(4,736)
Other comprehensive income:
Exchange difference on
translation of financial
statements for foreign
operations		-	-	-	-	(3,181)	-	(3,181)	(17)	(3,198)
Total comprehensive
income for the period		-	-	-	-	(3,181)	(4,636)	(7,817)	(117)	(7,934)
At 30 June 2022 (unaudited)		29,072	224,877	7,241	(5,270)	590	(230,564)	25,946	(2,945)	23,001

2 Greatwalle Inc. • 1st Quarterly Report 2022/23

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL INFORMATION

FOR THE THREE MONTHS ENDED 30 JUNE 2022

1. GENERAL INFORMATION AND BASIS OF PREPARATION
   Greatwalle Inc. (the "Company") was incorporated in the Cayman Islands as an exempted company with limited liability on 2 January 2014. The Company's registered office is located at Clifton House, 75 Fort Street, P.O. Box 1350, Grand Cayman, KY1-1108, Cayman Islands. Its principal place of business is located at Room 2008, 20th Floor, West Tower, Shun Tak Centre, 200 Connaught Road Central, Hong Kong. The Company's shares were listed on the GEM of the Stock Exchange on 20 August 2014.
   The principal activity of the Company is investment holding. The principal activities of the Company and its subsidiaries are the provision of security guarding and property management services, and the provision of asset management services.
   The Group's unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in Hong Kong and complied with accounting standards issued by the Hong Kong Institute of Certified Public Accountants ("HKICPA"). The unaudited condensed consolidated financial statements also include the applicable disclosure requirements of the Hong Kong Companies Ordinances and GEM Listing Rules. They are prepared under the historical cost convention.
   The accounting policies adopted in preparation of the unaudited condensed consolidated financial statements are consistent with those used in the preparation of the Group's annual consolidated financial statements for the year ended 31 March 2022, except for the adoption of the new and revised the Hong Kong Financial Reporting Standards ("HKFRSs").
   In this report, the Group has adopted all the new and revised HKFRSs issued by the HKICPA that are relevant to its operations and effective for its accounting period beginning on 1 April 2022. The adoption of these new and revised HKFRSs did not result in significant changes to the Group's accounting policies and amounts in the Reporting Period and the corresponding previous periods.
   The Group has not applied the new and revised HKFRSs that have been issued but are not yet effective. The Group has already commenced an assessment of the impact of these new HKFRSs but is not yet in a position to state whether these new HKFRSs would have a material impact on its results of operations and financial position.
   The unaudited condensed consolidated financial statements do not include all the information and disclosures required in the annual financial statements, and should be read in conjunction with the Group's annual financial statements for the year ended 31 March 2022.
2. REVENUE
   Revenue represents the net invoiced value of service rendered from the provision of security guarding and property management services and the service income from the provision of asset management services during the period.

	Three months ended
	30 June
	2022		2021
	(Unaudited)		(Unaudited)
	HK$'000		HK$'000
Continuing Operations
Provision of security guarding and property management services	19,659		14,150
Provision of asset management services	173		704
	19,832		14,854

Greatwalle Inc. • 1st Quarterly Report 2022/23 3