ChatDOC/OCRFlux-bench-single huggingface dataset:
# XV. Notes to Key Items of the Company Financial Statements (Continued)

# 7. Supplement to cash flow statement

十五、公司主要財務報表項目註釋（續）

7. 現金流量表補充資料

RMB

人民幣元

Item 項目	Incurred during
the year
本年發生額	Incurred in
previous year
上年發生額
Net profit 淨利潤	6,565,148,557.00	7,359,913,863.60
Add: Impairment loss of assets 加：資產減值損失	1,961,966.02	351,958,827.88
Impairment gain of credit 信用減值利得	(1,404,072.48)	(34,059,926.00)
Increase in special reserve 專項儲備的增加	22,218,884.94	20,031,981.23
Depreciation of fixed assets and 固定資產及投資性
investment properties 房地產折舊	811,862,399.51	601,008,663.22
Amortization of intangible assets 無形資產攤銷	19,100,027.48	8,315,630.37
Losses (gains) on disposal of fixed 處置或報廢固定資產、
assets, intangible assets and 無形資產和其他
other long-term assets 長期資產的損失（收益）	(20,413,802.94)	3,472,164.55
Finance expenses 財務費用	(526,532.67)	3,439,623.10
Investment loss (income) 投資損失（收益）	1,130,077,406.49	(1,264,600,396.91)
Profit or loss on change of fair value 公允價值變動損益	(64,160,277.02)	–
Increase in deferred tax assets 遞延所得稅資產的增加	(444,742,582.70)	(30,320,212.07)
Increase in deferred tax liabilities 遞延所得稅負債的增加	6,653,805.68	–
Increase in inventories 存貨的增加	(1,200,231,375.10)	(1,172,939,628.20)
(Increase) decrease in operating 經營性應收項目的
receivables （增加）減少	(2,859,763,693.10)	1,850,840,404.39
Increase in operating payables 經營性應付項目的增加	7,251,942,122.41	5,190,664,425.45
Net cash flow from operating activities 經營活動產生的現金流量淨額	11,217,722,833.52	12,887,725,420.61
# TABLE OF CONTENTS

APPROACH	2
ABOUT THIS REPORT	3
ABOUT GAMEONE	5
OUR STAKEHOLDERS	6
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT	7
SECTION A: ENVIRONMENTAL	7
Emissions	7
Use of Resources	9
The Environmental and Natural Resources	10
SECTION B: SOCIAL	11
Employment	11
Health and Safety	12
Development and Training	13
Labour Standard	13
Supply Chain Management	13
Product Responsibility	14
Anti-corruption	16
Community investment	16
ENVIRONMENTAL DATA	17
SOCIAL DATA	19
# APPROACH

Gameone Holdings Limited (hereafter called “Gameone” or the “Company”) and its subsidiaries (collectively, the “Group” or “we”) are committed to improving business performance to maximize stakeholders’ value without compromising the environmental and social aspect, in the hope that it can bring positive impact on both the Group and the community. Aiming to be the market leader in Hong Kong and Taiwan mobile game industry, the Group focuses on developing a wide game product portfolio, ranging from self/co-developed to licensed games as well as leveraging third-party distribution platforms to enrich customer base. The strong relationship with renowned game developers and operators contributed to the success of the business.

We always thrive for meeting the expectation of our stakeholders. Our main stakeholders, including customers, potential investors and shareholders, employees, suppliers, non-governmental organizations (“NGOs”) and local community, post significant impact on the Group’s daily operations. Building on the insight gained from the stakeholders, we roll out a sustainability strategy, management and reporting system.

We constantly hope to mitigate emerging risks and explore new business opportunities. Riding on the current mobile game trend, we are hoping to refine our products to meet the escalating customers’ needs.

To implement sustainability strategies which apply to all levels of the Group, the top-down approach is adopted for the following sustainability strategies:

1. To minimize the burden on the environment

2. To identify and priorities the environmental and social issues

3. To foster the innovative culture

4. To respond to the crisis and market changes in a timely manner

5. To safeguard human rights and social culture

6. To actively engage stakeholders in the decision-making process

7. To nurture and empower our employees

8. To support the local community

Hard work lies ahead as we continue to grow and operate sustainably, yet, together as a whole, there is nothing to stop us reaching more milestones.
# 29. TRADE AND OTHER RECEIVABLES (CONT’D)

Impairment loss on trade receivables, term loans and other receivables is recognised in profit or loss after review by the management of the relevant group companies, based on the latest status of trade receivables, term loans and other receivables, and the latest announced or available information about the underlying collateral held.

The following is an aged analysis of the trade and other receivables that were past due at the end of the reporting period but not impaired:

29. 貿易及其他應收款項（續）

經相關集團公司之管理層審視應收貿易賬款、有期貸款及其他應收款項的情況後（根據應收貿易賬項、有期貸款及其他應收款項的最新情況及最新公佈或得到的有關抵押品的資料）之減值虧損於損益中確認。

以下為於報告期末之已逾期但無減值之貿易及其他應收款項之賬齡分析：

2016
二零一六年	2015
二零一五年
HK$ Million
百萬港元	HK$ Million
百萬港元
Less than 31 days 少於31日	10.6	12.4
31 to 60 days 31至60日	5.2	4.0
61 to 90 days 61至90日	3.7	5.1
91 to 180 days 91至180日	2.2	3.8
Over 180 days 180日以上	0.1	0.9
21.8	26.2

The carrying amounts of the trade and other receivables at amortised cost approximate their fair values.

Further details on financial risk management of trade and other receivables are disclosed in note 40.

按攤銷成本計值之貿易及其他應收款項的賬面值與其公平價值相若。

貿易及其他應收款項之金融風險管理之進一步詳情載於附註40。
# 30. AMOUNTS DUE FROM ASSOCIATES AND JOINT VENTURES

# (i) Amounts due from associates

30. 聯營公司及合營公司欠款

(i) 聯營公司欠款

2016
二零一六年	2015
二零一五年
HK$ Million
百萬港元	HK$ Million
百萬港元
Advances 墊款	395.5	323.9
Less: impairment allowance 減：減值撥備	(17.1)	(17.1)
378.4	306.8
Analysed for reporting purposes as: 為呈報目的所作之分析：
Non-current assets 非流動資產	257.4	73.5
Current assets 流動資產	121.0	233.3
378.4	306.8
Gross amount of impaired 聯營公司有減值
advances to associates 墊款總額	17.3	17.3
Individually assessed 個別評估
impairment allowances 減值撥備
At 1st January and 於一月一日及
31st December 於十二月三十一日	(17.1)	(17.1)
Net carriynig amount of mpaired 聯營公司已減值墊款
advances to associates 賬面淨值	0.2	0.2
# 3 Proof of Theorem 1.2

For the rest of this section, we fix a separable topological group H, and assume that \( \phi : { \mathrm { H o m e o } } ( M ) \to H \) is a homomorphism. For simplicity, we first treat only the case where M is closed; modifications for the case where \( \partial M \ne \emptyset \) and the relative case of \( \mathrm { H o m e o } _ { 0 } ( M \, \mathrm { r e l } \, N ) \) are discussed in Section 4.1, along with a comment for noncompact M.

The proof is somewhat involved, so we have divided it into three major steps. The first is general set-up; the second a “localized” version of continuity (for homeomorphisms with support in a small ball), and the third step improves this local result to a global version by careful use of the fragmentation property. There is a delicate balancing act between steps 2 and 3; in particular, it will be necessary to construct a particular kind of efficient cover of the manifold M to use in the fragmentation argument.

# Step 1: set-up for the proof

Since \( \phi \) is a group homomorphism, it suffices to show continuity at the identity. In other words, we need to prove the following.

3.1. For any neighborhood V of the identity in H, there exists a neighborhood U of the identity in \( \operatorname { H o m e o } _ { 0 } ( M ) \) such that \( U \subset \phi ^ { - 1 } ( \breve { V } ) \).

We first use the Baire category theorem to extract an “approximate” version of condition 3.1.

Lemma 3.2. Let V be a neighborhood of the identity in H. There exists a neighborhood U of the identity in \( \operatorname { H o m e o } _ { 0 } ( M ) \) such that U is contained in the closure of \( \phi ^ { - 1 } ( V ) \).

Remark 3.3. The proof given below works generally for homomorphisms from any Polish group to a separable group; see e.g. [4] for one instance of this (where it is called “Baire category continuity”) and [14] for another in the context of groups with the “Steinhaus property”.

Proof of Lemma 3.2. Take a smaller neighborhood of the identity \( V _ { 0 } \subset V \) such that \( V _ { 0 } \) is symmetric (i.e. \( v \in V _ { 0 } \Leftrightarrow v ^ { - 1 } \in V _ { 0 } ) \), and such that \( V _ { 0 } ^ { 4 } \subset V \). Let \( \{ h _ { i } \} \) be a countable dense subset of H, so that

\[ H = \bigcup _ { i } h _ { i } V _ { 0 } . \]

Let \( W = \phi ^ { - 1 } ( V _ { 0 } ^ { 2 } ) . \). For each translate \( h _ { i } V _ { 0 } \) that intersects the image of \( \mathrm { H o m e o } _ { 0 } ( M ) \), choose an element \( \phi ( g _ { i } ) \in h _ { i } V _ { 0 } \). Then \( \phi ( g _ { i } ) = h _ { i } v _ { i } \) for some \( v _ { i } \in V \), and so

\[ h _ { i } V _ { 0 } = \phi ( g _ { i } ) v _ { i } ^ { - 1 } V _ { 0 } \subset \phi ( g _ { i } ) V _ { 0 } ^ { 2 } . \]

Thus

\[ H = \bigcup _ { i } \phi ( g _ { i } ) V _ { 0 } ^ { 2 } \]

and, taking pre-images, we have

\[ { \mathrm { H o m e o } } ( M ) = \bigcup _ { i } g _ { i } W \]

Since \( { \mathrm { H o m e o } } _ { 0 } ( M ) \) is a Baire space, it cannot be covered by countably many nowhere dense sets. Thus, W is dense in the neighborhood of some \( g \in { \mathrm { H o m e o } } _ { 0 } ( M ) \), so
Institution Practicing License issued by Yinchuan Approval Service Administration (銀川市審批服務管理局). The license stipulates that the licensed diagnostic and treatment services shall be provided via the Internet. Our PRC Legal Adviser has advised that it remains uncertain whether the foreign investment restrictions applicable to “medical institutions” would apply to Yinchuan Yimaitong.

On February 2, 2021, our PRC Legal Adviser and the PRC legal adviser of the Joint Sponsors conducted an interview with the director of Yinchuan Data Industrial Development Service Center(銀川市大數據產業發展服務中心) as the examination and verification authority responsible for the online precondition review for the application of the Medical Institution Practicing License. Yinchuan Data Industrial Development Service Center confirmed that they would not issue the Certificate of the City-level Internet Hospital Regulatory Platforms (市級互聯網醫院監管平台證明) (the “Certificate”) if there is any foreign investor investing in Yinchuan Yimaitong. Without the Certificate from Yinchuan Data Industrial Development Service Center, Yinchuan Approval Service Administration (銀川市審批服務管理局), the ultimate authority to approve applications for the operation of Internet hospital service, will not proceed with the issuance of the Medical Institution Practicing License. On February 3, 2021, our PRC Legal Adviser and the PRC legal adviser of the Joint Sponsors conducted an interview with the division deputy director of Yinchuan Approval Service Administration. Yinchuan Approval Service Administration confirmed that the establishment of sino-foreign equityj oint venture Internet hospitals is prohibited, and there is no precedent for any sino-foreignj oint venture of Internet hospitals.

Our PRC Legal Adviser confirmed that (i) each of Yinchuan Data Industrial Development Service Center and Yinchuan Approval Service Administration is a competent authority on the basis that (a) according to the Provisions on the Function Configuration and Internal Organizations of Yinchuan Approval Service Administration (《銀川市審批服務管理局職能配置和內設機構規定》) promulgated on July 13, 2020, the responsibilities of Yinchuan Approval Service Administration include approving the establishment and operation of medical institutions and Yinchuan Approval Service Administration confirmed during the interview that it is the approval department for the establishment of Internet hospitals, and (b) Yinchuan Data Industrial Development Service Center is the approval authority with respect to the issuance of the Certificate, being a prerequisite and necessary document without which Yinchuan Approval Service Administration will not proceed with the issuance of the Medical Institution Practicing License, and (ii) the interviewees are the director of Yinchuan Data Industrial Development Service Center and the division deputy director of Yinchuan Approval Service Administration and they are competent authorities to give the confirmation above-mentioned, and, based on such confirmation, our Company is currently unable to establish a sino-foreign equityj oint venture to obtain the Medical Institution Practicing License for Internet hospital.
# 31. STATEMENT OF FINANCIAL POSITION OF THE COMPANY (CONTINUED)

# (a) Reserves

The amounts of the Group’s reserves and the movements therein for the current and prior years are presented in the consolidated statement of changes in equity of the financial statements. Movements in the Company’s reserves during the current and prior years are as follows:

Share
premium	Contributed
surplus	Capital
reserve	Accumulated
losses	Total
HK$’000	HK$’000	HK$’000	HK$’000	HK$’000
(Note)
At 31 March 2016 and
1 April 2016
Loss for the year	23,811
–	22,968
–	7,453
–	(18,557)
(6,924)	35,675
(6,924)
As at 31 March 2017	23,811	22,968	7,453	(25,481)	28,751
Loss for the year	–	–	–	(5,730)	(5,730)
Issue of shares upon
subscription	180,600	–	–	–	180,600
Transaction costs
attributable to subscription
of shares	(725)	–	–	–	(725)
As at 31 March 2018	203,686	22,968	7,453	(31,211)	202,896

Note:

Pursuant to a written confirmation on 23 March 2015, two of the Company’s shareholders, Fortune Decade and Twilight Treasure, agreed to bear the listing expenses in connection with 120,000,000 sales shares sold through the placing of the Company’s shares took place during the year ended 31 March 2015 and reimburse their share of these expenses to the Company upon the listing of shares of the Company on the GEM of the Stock Exchange. The reimbursement of approximately HK\$7,453,000 by these shareholders in their capacity as shareholders was accounted for as capital contribution to the Company.
# 32. PARTICULARS OF PRINCIPAL SUBSIDIARIES OF THE COMPANY

# (i) General information of subsidiaries

Details of the Company’s principal subsidiaries at 31 March 2018 and 2017 are as follows:

Name of subsidiaries	Place of
incorporation
or registration/
operation	Issued
and fully
paid share
capital/
registered
capital	Percentage of nominal
value of issued ordinary
share capital held by
the Company	Forms of
legal entity	Principal
activities
Directly	Indirectly
%	%
Win Vision	BVI	US$1	100	–	Wholly- owned
foreign company	Investment holding,
Kwan on Construction
Company Limited
(“Kwan On”)	Hong Kong	HK$1	–	100	Private limited
company	Civil engineering
construction
Univic Engineering Limited
(“UEL”)	Hong Kong	HK$100	–	100	Private limited
company	Provision of contracting
work on civil
plumbing, fire
protection, insulation,
concrete repairs and
related activities
Univic Engineering &
Construction Limited	Hong Kong	HK$1	–	100	Private limited
company	Provision of civil,
plumbing and
fire protection
engineering contract
services
Univic Earthworks Limited	Hong Kong	HK$1	–	100	Private limited
company	Provision of civil and
plumbing engineering
contract services
Univic Building Contractors
Limited	Hong Kong	HK$1	–	100	Private limited
company	Provision of
construction site
workmen services
Univic Construction
Resources Limited
(“UCRL”)	Hong Kong	HK$1	–	100	Private limited
company	Provision of
construction site
workmen services
Univic Fireproofing &
Construction Limited
(“UFCL”)	Hong Kong	HK$1	–	100	Private limited
company	Trading of diesel
and provision of
construction site
workmen services
While most mainstream lenders are treating customers in arrears fairly, we have seen a number of problems, primarily with specialist lenders. These problems include:

• Unfair charges – Information provided to customers on arrears charges is often unclear, charges are sometimes applied in circumstances that do not appear to be compatible with treating customers fairly, and there is little evidence that firms are ensuring arrears charges overall reflect the additional cost of administering these cases.

• Inadequate controls in outsourcing arrangements – Some lenders do not have adequate controls in place to ensure that, where they outsource arrears handling, the third party is treating customers fairly. Frontline staff in third party administrators (TPAs) often lacked the training and competence to deliver the fair customer outcomes required under MCOB 13, and TPAs’ own oversight of their business was inadequate to detect and deal with the detriment customers suffered as a result.

• Impaired credit lenders are much more inclined than mainstream lenders to impose a ‘one size fits all’ policy and move swiftly to take possession, without establishing borrowers’ individual circumstances. Their internal controls and training and competence arrangements are also noticeably less developed than those of mainstream lenders. There is anecdotal evidence that the terms of securitisation covenants are restricting their ability to treat customers in arrears fairly.

We have taken enforcement action against mortgage firms where we identified breaches in our rules or principles. Some of the lenders we visited more recently are taking steps to rectify earlier failings, in particular by collecting more information on customers’ income and expenditure when they fall into arrears, and tailoring their response in each case to the individual’s circumstances. But this is an area that will require continuing vigilance, particularly if there is a deterioration in the general economic environment or interest rates start to rise.

# 2.4 Payment Protection Insurance (PPI)

PPI mis-selling has been a significant issue in recent years, giving rise to consumer detriment, and has been covered in previous FROs.

Since we took over the regulation of PPI we have, amongst other things, carried out three thematic reviews and reports, issued warnings, visited over 200 firms and taken enforcement action against 24 firms. In addition, the PPI market was subject to a Competition Commission enquiry which began in 2007.

In August 2010, we published a Policy Statement, PS10/12, The assessment and redress of PPI complaints. This set out a package of measures designed to ensure that firms handle PPI complaints more fairly and consistently, and deliver fairer outcomes to customers who may have been mis-sold PPI but who have not complained.

The latest development is the judicial review of PS10/12, launched by the British Bankers’ Association (with Nemo Personal Finance subsequently joining as an interested party) on 8 October 2010. This challenge was considered by the Administrative Court in late January 2011 and a decision will follow.
April 202041

(01333 HK)中国忠旺China Zhongwang

ReportCompany

# Table-1: Peers Comparison

Company	Stock Code	Currency	Last price	PE (fiscal year)	PB (fiscal year)	ROE(%)
18A	19A	20F	21F	18A	19A	20F	21F	20F
International Listed aluminum companies
Alcoa Inc	AA US	USD	7.41	5.5	n.a.	n.a.	n.a.	0.2	0.3	0.4	0.4	(23.1)
Norsk Hydro Asa	NHY NO	NOK	21.70	10.4	n.a.	23.2	10.7	0.5	0.6	0.6	0.5	(2.2)
Aluar Aluminio	ALUA AR	ARS	23.40	31.7	9.7	10.5	6.1	2.4	2.4	n.a.	n.a.	24.7
Nippon Light Metal Holdings	5703 JP	JPY	164.00	5.6	4.9	9.5	7.0	0.6	0.5	0.5	0.5	11.4
Hindalco Industries Ltd	HNDL IN	INR	109.85	4.0	4.5	5.2	6.5	0.4	0.4	0.4	0.4	9.8
National Aluminium Co Ltd	NACL IN	INR	29.95	4.3	3.3	74.9	99.8	0.6	0.5	n.a.	n.a.	16.5
Simple Average	10.3	5.6	24.6	26.0	0.8	0.8	0.5	0.4	6.2
Weighted Average	9.1	5.3	18.6	14.8	0.6	0.6	0.5	0.5	3.3
PRC listed aluminum companies
Aluminum Corp Of China Ltd-A	601600 CH	CNY	2.90	69.0	78.4	58.0	31.5	0.9	1.0	0.9	0.8	1.3
Shandong Nanshan Aluminum-A	600219 CH	CNY	2.10	12.8	15.0	13.1	17.5	0.7	0.6	0.6	0.6	4.2
Henan Shenhuo Coal & Power-A	000933 CH	CNY	4.19	32.2	6.9	12.1	6.9	1.3	1.0	n.a.	n.a.	n.a.
Jiangsu Asia Pacific Light-A	002540 CH	CNY	4.29	14.5	16.2	n.a.	n.a.	1.1	1.1	n.a.	n.a.	6.9
Simple Average	32.2	29.1	27.8	18.6	1.0	0.9	0.7	0.7	4.1
Weighted Average	44.8	48.1	36.1	22.8	0.9	0.9	0.6	0.6	2.4
HK listed aluminum companies
Aluminum Corp Of China Ltd-H	2600 HK	HKD	1.67	33.5	39.8	23.9	13.8	0.5	0.5	0.5	0.4	1.3
China Hongqiao Group Ltd	1378 HK	HKD	3.54	4.8	4.4	4.9	4.1	0.4	0.4	0.4	0.4	9.9
China Zhongwang Holdings Ltd	1333 HK	HKD	1.99	2.8	4.1	n.a.	n.a.	0.3	0.3	n.a.	n.a.	8.9
Xingfa Aluminium Holdings	98 HK	HKD	6.36	4.5	3.9	n.a.	n.a.	0.9	0.8	n.a.	n.a.	21.9
Simple Average	11.4	13.0	14.4	8.9	0.5	0.5	0.4	0.4	10.5
Weighted Average	19.6	22.9	16.5	10.0	0.4	0.5	0.4	0.4	5.6
HK listed nonferrous companies
Jiangxi Copper Co Ltd-H	358 HK	HKD	7.65	9.1	9.5	11.9	9.4	0.5	0.4	0.5	0.4	4.8
Mmg Ltd	1208 HK	HKD	1.42	21.3	n.a.	473.3	17.1	1.2	1.5	1.4	1.3	(20.3)
China Molybdenum Co Ltd-H	3993 HK	HKD	2.32	9.3	22.7	22.7	17.6	1.1	1.1	1.1	1.1	4.5
United Co Rusal Plc	486 HK	HKD	2.67	3.0	5.4	3.8	3.4	1.0	0.8	0.7	0.6	16.1
Simple Average	10.7	12.5	127.9	11.9	0.9	0.9	0.9	0.8	1.3
Weighted Average	8.6	13.9	45.9	12.2	0.9	0.9	0.9	0.8	5.7

Source: Bloomberg, Guotai Junan International.
The chart below sets forth the total sales value and sales volume of cigarettes in China from 2010 to 2015 and the forecast from 2016 to 2020:

Note:

(1) F refers to forecasted figures.

Sources: STMA; Ipsos research and analysis

The total sales volume of cigarettes in China grew steadily from approximately 2,342.1 billion sticks in 2010 to approximately 2,489.5 billion sticks in 2015 at a CAGR of 1.2%. The sales volume is forecasted to further grow from approximately 2,359.6 billion sticks in 2016 to approximately 2,413.0 billion sticks in 2020, at a CAGR of 0.6%. The total sales value of cigarettes in China steadily grew from RMB847.9 billion in 2010 to RMB1,422.3 billion in 2015 at a CAGR of 10.9%. The sales value is forecasted to further grow from RMB1,468.0 billion in 2016 to RMB1,749.6 billion in 2020, at a CAGR of 4.5%.
The chart below sets forth the total sales value and sales volume of cigarettes in Hubei Province from 2010 to 2015 and the forecast from 2016 to 2020:

Note:

(1) F refers to forecasted figures.

# Sources: STMA; Ipsos research and analysis

From 2010 to 2015, the sales volume of cigarettes in Hubei Province decreased slightly from approximately 73.8 billion sticks in 2010 to approximately 73.1 billion sticks in 2015 at a CAGR of-0.2%. The total sales value of cigarettes experienced growth from RMB26.4 billion in 2010 to RMB39.9 billion in 2015 at a CAGR of 8.6%. Both sales volume and sales value of cigarettes in Hubei Province are expected to increase over the forecast period. The sales volume is expected to increase to approximately 71.9 billion sticks in 2020 from 70.2 billion sticks in 2016 with a CAGR of 0.6%, while the sales value is expected to reach RMB47.9 billion in 2020 from RMB41.5 billion in 2016 at a CAGR of 3.7%. The increase in sales value can be attributed to the STMA’s promotion of mid to high-end cigarettes and consumers’ increasing preference for mid to high-end cigarettes driven by the increasing income level and higher purchasing power of consumers. Despite the decrease in sales volume of cigarettes in 2015 and 2016 due to the slowdown of the Chinese GDP growth and the rise in specific tax from 5% to 11% in 2015 imposed by the government, the sales volume and value of cigarettes are expected to have a stable growth from 2016 to 2020. At the provincial level, Yunnan and Hunan Provinces were the top two in terms of cigarette production volume in 2015, with approximately 390.4 billion sticks and 175.7 billion sticks, respectively. Additionally, the sales of cigarettes are subject to seasonal variations. In general, the first and third quarters are the peak seasons for cigarettes during the year, partly driven by festivals such as the Lunar New Year and the Mid-Autumn Festival.