香 港 交 易 及 結 算 所 有 限 公 司 及 香 港 聯 合 交 易 所 有 限 公 司（「聯 交 所」）對 本 公 告 內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 表 明 不 就 本 公 告 全 部 或 任 何 部 份 內 容 產 生 或 因 倚 賴 該 等 內 容 引 致 的 任 何 損 失 承 擔 任 何 責 任。 FAR EAST HOTELS AND ENTERTAINMENT LIMITED （於香港註冊成立之有限公司） 遠東酒店實業有限公司 （股份代號：00037） 截至二零二五年三月三十一日 止 年 度 末 期 業 績 公 告；及 有關本公司截至二零二四年三月三十一日 止年度年報之補充公告 業 績 遠 東 酒 店 實 業 有 限 公 司（「本 公 司」）董 事 會（分 別 為「董 事」及「董 事 會」）宣 佈，本 公 司 及 其 附 屬 公 司（「本 集 團」）截 至 二 零 二 五 年 三 月 三 十 一 日 止 年 度（「本 年 度」） 之 經 審 核 綜 合 財 務 業 績 連 同 有 關 比 較 數 字 載 列 如 下： 綜合損 ...

Financial Performance - The company recorded a loss attributable to owners of HKD 22.8 million for the six months ended September 30, 2024, compared to a loss of HKD 7.8 million for the same period in 2023[9]. - Total revenue for the group was approximately HKD 11.4 million, a decrease of 34.5% from HKD 17.4 million in 2023[11]. - The group reported a gross loss of HKD 0.4 million, compared to a gross profit of HKD 5 million in the previous year[11]. - The group reported a loss attributable to owners of the company of HKD 22.77 million for the six months ended September 30, 2024, compared to a loss of HKD 7.75 million for the same period in 2023[36]. - The company reported a total comprehensive loss of HKD 8,784,158 for the six months ended September 30, 2024, compared to a loss of HKD 7,750,852 in the previous period, indicating a worsening of approximately 13.3%[42]. - The company reported a pre-tax loss of HKD 23,150,587 for the six months ended September 30, 2024, compared to a pre-tax loss of HKD 8,807,091 for the same period in 2023[62]. - The group experienced a gross loss of HKD 417,926 for the six months ended September 30, 2024, compared to a gross profit of HKD 5.05 million for the same period in 2023[36]. - The company reported a significant increase in cash inflow from investing activities, totaling HKD 3,839,722 for the six months ended September 30, 2024, compared to HKD 11,857,924 in the previous year[44]. Revenue Breakdown - Revenue from the hotel segment was approximately HKD 8.2 million, down from HKD 12.2 million in 2023, with room revenue decreasing by 36.0% to HKD 5.5 million[11]. - The revenue from property management services in mainland China was HKD 1,853,035, compared to HKD 3,495,583 in the prior year, indicating a decline of approximately 47.0%[54][56]. - Hotel room revenue for the Hong Kong operations was HKD 5,459,986, down from HKD 8,579,574 in the previous year, reflecting a decrease of about 36.5%[54][56]. Assets and Liabilities - As of September 30, 2024, the group's total assets amounted to approximately HKD 301.39 million, a decrease from HKD 315.50 million as of March 31, 2024[38]. - The group's cash and cash equivalents were HKD 13.04 million as of September 30, 2024, down from HKD 22.18 million as of March 31, 2024[38]. - The company’s total assets less current liabilities stood at HKD 317,054,246 as of September 30, 2024, down from HKD 339,746,701 as of March 31, 2024, representing a decrease of approximately 6.7%[40]. - The company’s equity as of September 30, 2024, was HKD 315,453,398, a decrease from HKD 337,512,810 as of March 31, 2024, reflecting a decline of about 6.5%[42]. - The group’s total liabilities included lease liabilities classified as current or non-current, reflecting the impact of the new accounting standards adopted during the period[51]. Cash Flow and Operating Activities - The net cash generated from operating activities for the six months ended September 30, 2024, was HKD 484,308, a significant recovery from a cash outflow of HKD 5,407,146 in the same period last year[44]. - Cash and cash equivalents increased by HKD 2,313,050 for the six months ended September 30, 2024, compared to an increase of HKD 2,921,691 in the same period last year[44]. Legal and Development Activities - The company has initiated legal proceedings against subtenants for overdue rental payments amounting to HKD 3.2 million[18]. - The company plans to develop a site in Kwai Chung with a total site area of approximately 48,313 square meters, proposing a total of 5,973 residential units[20]. - The development plan will be implemented in four phases, with the first phase application for new land lease to be submitted to the Lands Department of Hong Kong[20]. Shareholder Information - As of September 30, 2024, the total shares held by key executives and directors amounted to 204,466,471, representing approximately 27.171% of the issued shares[94]. - Key executive Qiu Dawei holds 99,975,471 personal shares and 82,598,000 company shares, totaling 204,466,471 shares[94]. - As of September 30, 2024, major shareholders include Mr. Kiu Tak Kan (deceased) with 113,726,476 shares (15.113%), Achiemax Limited with 72,182,400 shares (9.592%), and Energy Overseas Ltd with 80,218,000 shares (10.66%)[117]. Corporate Governance - The company has complied with all corporate governance code provisions, except for the separation of the roles of Chairman and CEO[125]. - The board believes that combining the roles of Chairman and CEO enhances strong and consistent leadership[130]. - The Audit Committee consists of all independent non-executive directors and has reviewed the accounting principles and financial reporting matters[135]. - The company will seek to appoint new independent non-executive directors to fill vacancies on the board and committees within three months[134].

Financial Performance - For the six months ended September 30, 2024, the company reported a loss attributable to owners of the company of HKD 22,773,764, compared to a loss of HKD 7,750,852 for the same period in 2023, representing an increase in loss of approximately 194%[2] - The company's total comprehensive loss for the period was HKD 22,059,412, compared to a total comprehensive loss of HKD 8,784,158 in the previous year, indicating a significant increase in overall losses[4] - The basic and diluted loss per share for the period was HKD 3.03, compared to HKD 1.03 for the same period last year, reflecting a 194% increase in loss per share[4] - The company reported a pre-tax loss of HKD 23,150,587 for the six months ended September 30, 2024, compared to a pre-tax loss of HKD 8,807,091 for the same period in 2023[37][47] - The group recorded a gross loss of HKD 400,000, compared to a gross profit of HKD 5 million in 2023[76] - The net loss attributable to the company's owners for the period was HKD 22.8 million, compared to a loss of HKD 7.8 million in 2023[76] Revenue and Segments - Total revenue for the six months ended September 30, 2024, was HKD 11,370,911, a decrease from HKD 17,378,176 for the same period in 2023, representing a decline of approximately 34.4%[50] - Hotel room revenue in Hong Kong was HKD 5,459,986, while food and beverage revenue was HKD 2,723,892, contributing to a total of HKD 8,183,878 from hotel operations[18] - The revenue from property management services in mainland China was HKD 1,853,035, indicating a significant contribution to the overall revenue[18] - The total revenue from external customers in Hong Kong was HKD 8,725,645, down from HKD 12,544,540 in the previous year, reflecting a decrease of approximately 30.5%[50] - The company reported a significant decrease in the revenue from mainland China, which fell to HKD 1,853,035 from HKD 4,461,930, a decline of about 58.4%[50] - Revenue from the hotel segment was approximately HKD 8.2 million, down 32.8% from HKD 12.2 million in 2023[76] - Revenue from the room division was HKD 5.5 million, a decrease of 36.0% from HKD 8.6 million in 2023[76] - Revenue from the dining division was HKD 2.7 million, down 25.0% from HKD 3.6 million in 2023[76] - The group recorded a significant loss in the serviced apartment segment in Beijing, with total revenue of approximately HKD 1.9 million, down 57.8% from HKD 4.5 million in 2023[77] Assets and Liabilities - Non-current assets decreased from HKD 315,497,371 as of March 31, 2024, to HKD 301,393,956 as of September 30, 2024, indicating a decline of approximately 4.5%[7] - Current assets decreased from HKD 48,807,081 as of March 31, 2024, to HKD 39,929,690 as of September 30, 2024, representing a decline of about 18.2%[8] - The company's total liabilities decreased from HKD 24,557,751 to HKD 24,269,400, showing a reduction of approximately 1.2%[8] - The company's investment properties decreased from HKD 278,736,862 to HKD 266,870,435, reflecting a decrease of about 4.3%[7] - The company’s total assets less current liabilities decreased from HKD 339,746,701 to HKD 317,054,246, indicating a decline of approximately 6.7%[11] - Cash and cash equivalents decreased significantly from HKD 22,178,646 to HKD 13,042,954, a decline of approximately 41.2%[8] Expenses and Costs - The company incurred total expenses of HKD 7,389,289 for employee costs, down from HKD 8,813,165 in the previous year[49] - Total borrowing costs decreased to HKD 319,374 for the six months ended September 30, 2024, from HKD 476,348 in the same period of 2023, representing a reduction of approximately 33%[53] Governance and Management - The company appointed Mr. Kiu Tat Wai as the Chairman of the Board on July 19, 2023, consolidating the roles of Chairman, CEO, and Managing Director for stronger leadership[104] - The Board believes that the current governance structure provides sufficient safeguards to ensure a balance of power within the Board[105] - The company plans to appoint new independent non-executive directors within three months to comply with listing rules after the resignation of Mr. Ng Wing Hang[108] - The Audit Committee, consisting of all independent non-executive directors, has reviewed the accounting principles and practices adopted by the group[109] Future Plans and Strategies - The company plans to continue focusing on market expansion and new product development to improve future performance[1] - The group aims to improve service quality and enhance operational efficiency while seeking suitable investment opportunities despite ongoing geopolitical uncertainties[87] - The group plans to implement the development project in four phases, pending the approval of the first phase land lease from the Hong Kong SAR Lands Department[86]

Financial Performance - The company reported a significant increase in revenue, achieving a total of $500 million, representing a 20% growth year-over-year[1]. - The company provided an optimistic outlook for the next quarter, projecting revenue growth of 15% to $575 million[3]. - New product launches are expected to contribute an additional $50 million in revenue, with a focus on innovative technology solutions[4]. - The company reported a consolidated loss attributable to shareholders of HKD 33,017,227 for the fiscal year ending March 31, 2024, compared to a loss of HKD 7,946,189 in 2023, indicating a significant increase in losses[18]. - Total revenue for the group was approximately HKD 29.6 million, a decrease of 20.4% from HKD 37.2 million in 2023[20]. - The group's gross profit for the year was HKD 5.3 million, down 10.2% from HKD 5.9 million in the previous year[20]. Market Expansion and Strategy - The company is expanding its market presence in Southeast Asia, targeting a 10% market share by the end of the fiscal year[5]. - A strategic acquisition of a smaller competitor was completed for $100 million, expected to enhance market capabilities[6]. Research and Development - Research and development expenses increased by 25% to $30 million, reflecting the commitment to innovation[7]. Cost Management - The company plans to implement cost-cutting measures aimed at reducing operational expenses by 5%[8]. Customer Satisfaction - Customer satisfaction ratings improved to 90%, up from 85%, showcasing enhanced service quality[9]. Shareholder Returns - The board announced a dividend of $0.50 per share, maintaining a stable return for shareholders[10]. Financial Position - As of March 31, 2024, the group held cash and bank deposits totaling HKD 22.2 million, down from HKD 30.3 million in 2023[29]. - The outstanding bank borrowings as of March 31, 2024, amounted to HKD 8.4 million, a decrease from HKD 11.7 million in 2023, resulting in a debt-to-equity ratio of approximately 2.5%[29]. - The total shareholder equity as of March 31, 2024, was approximately HKD 337.5 million, compared to HKD 371.5 million in 2023[29]. Environmental Sustainability - The group is committed to environmental sustainability through various initiatives, including reducing paper usage and promoting double-sided printing[36]. - The company is committed to adopting sustainable practices and materials to improve sustainability in Hong Kong[120]. - The total greenhouse gas emissions for the reporting period were 617.45 tons of CO2 equivalent, a decrease of 4.07% compared to the previous period[125]. - Water consumption decreased by 26.51% to 18,815 cubic meters from 25,602 cubic meters in the previous period[129]. - The hotel aims to continue monitoring emissions data to further reduce resource usage and enhance environmental sustainability[125]. Employee Management - The total number of hotel employees decreased from 24 in 2023 to 21 in 2024, a reduction of 12.5%[158]. - Employee turnover rate increased to 22% in 2024 from 17% in 2023, with 5 employees leaving the company[161]. - The hotel provided comprehensive medical insurance for full-time employees, including medical, surgical, hospitalization, and employee compensation insurance[162]. Community Engagement - The company donated a total of HKD 22,020 to the local community of Cheung Chau, emphasizing its commitment to community support[188]. - The hotel contributed HKD 5,520 to support the Cheung Chau Bun Festival, a significant cultural event recognized as a national intangible cultural heritage[189]. Governance and Compliance - The company has confirmed the independence of all independent non-executive directors as per the listing rules[65]. - The independent auditor, Deloitte, will be proposed for reappointment at the upcoming annual general meeting[103]. - The company has maintained compliance with anti-money laundering and anti-bribery regulations, with no significant violations reported during the period[187]. Stakeholder Engagement - Stakeholder engagement is crucial for understanding expectations and assessing potential impacts on future business activities[110]. - The company aims to create positive value by considering the interests of all stakeholders, including shareholders, employees, guests, suppliers, and the community[110].

Financial Performance - Total revenue for 2024 was HKD 29,638,821, a decrease of 20.2% from HKD 37,166,269 in 2023[12] - Revenue from hotel operations in Hong Kong was HKD 21,102,895, down from HKD 24,146,191 in 2023, representing a decline of 12.6%[12] - Gross profit for 2024 was HKD 5,262,889, compared to HKD 5,907,882 in 2023, reflecting a decrease of 10.9%[1] - The net loss before tax for 2024 was HKD (33,052,752), compared to a loss of HKD (20,810,626) in 2023[15] - The company reported a net loss of HKD 33,017,227 for the year 2024, compared to a loss of HKD 7,946,189 in 2023, indicating a significant increase in losses[131] - Basic and diluted loss per share for 2024 was HKD 4.39, compared to HKD 1.06 in 2023, indicating a worsening financial position[109] - The group reported a pre-tax loss of HKD 33,052,752 for 2024, compared to a loss of HKD 8,733,260 in 2023, indicating a significant decline in performance[109] Expenses and Costs - The cost of sales decreased to HKD (24,375,932) in 2024 from HKD (31,258,387) in 2023, a reduction of 22.1%[1] - Administrative expenses increased to HKD (25,605,454) in 2024 from HKD (20,810,626) in 2023, an increase of 23.1%[1] - Other income decreased significantly to HKD 2,209,917 in 2024 from HKD 5,816,020 in 2023, a decline of 62.0%[1] - The group’s financial costs for 2024 amounted to HKD 919,283, compared to HKD 1,049,773 in 2023, showing a decrease of approximately 12.4%[107] - The group recognized other comprehensive expenses totaling HKD 35,219,456 for the year, compared to HKD 13,271,748 in the previous year, reflecting increased financial strain[109] Assets and Liabilities - The total assets decreased to HKD 48,807,081 in 2024 from HKD 75,444,665 in 2023, a decline of 35.4%[2] - The group's assets decreased from HKD 407,677,823 in 2023 to HKD 364,304,452 in 2024, reflecting a reduction of approximately 10.6%[104] - Total liabilities decreased from HKD 36,217,757 in 2023 to HKD 26,791,642 in 2024, a reduction of approximately 26.1%[104] - The group’s total assets included HKD 2,432,517 in right-of-use assets as of March 31, 2024[156] - The company’s cash reserves decreased significantly from HKD 43,593,493 in 2023 to HKD 8,374,037 in 2024, a drop of about 80.8%[112] Shareholder Equity and Debt - As of March 31, 2024, total shareholder equity was approximately HKD 337.5 million, down from HKD 371.5 million in 2023, resulting in a debt-to-equity ratio of about 2.5% compared to 3.2% in 2023[38] - The group had outstanding bank borrowings of HKD 8.4 million as of March 31, 2024, down from HKD 11.7 million in 2023[66] - The group’s bank borrowings decreased from HKD 11,740,184 in 2023 to HKD 8,433,757 in 2024, a reduction of approximately 28.5%[104] Corporate Governance - The audit committee consists of four independent non-executive directors, ensuring compliance with corporate governance standards[79] - The company is committed to maintaining high standards of corporate governance and compliance with regulations[79] - The company will continue to review and monitor its corporate governance practices regularly[79] - The company adheres to all corporate governance codes as per the listing rules, with noted exceptions[179] - The board composition includes both executive and independent non-executive directors to maintain a balance of power[183] Investment and Development - The group is considering legal action against a landlord regarding property possession, with a provision of approximately HKD 2.2 million for potential compensation[62] - The group has received approval for a comprehensive development application in Kwai Chung, with conditions to be met[143] - The company plans to continue seeking suitable investment opportunities despite ongoing geopolitical uncertainties[144] - The group plans to apply for the first phase of new land contracts in Hong Kong, with the development plan to be implemented in four phases[173] Miscellaneous - The group has no significant investment or capital asset plans as of March 31, 2024[69] - The company did not repurchase any shares listed on the exchange during the year[77] - The group has no initial deposits with a maturity of more than three months as of March 31, 2024[146] - There are currently no foreign exchange contracts or financial derivatives in place as of March 31, 2024[176] - The independent auditor reported no reservations regarding the consolidated financial statements for the two years[182]

Financial Performance - The company recorded a loss of HKD 7.8 million for the six months ended September 30, 2023, compared to a profit of HKD 19.9 million for the same period in 2022[6]. - Total revenue for the period was approximately HKD 17.4 million, a decrease of 12.6% from HKD 19.9 million in 2022[8]. - The group reported a gross profit of HKD 5 million, unchanged from the previous year[8]. - The company reported a loss attributable to owners of the company of HKD 7,750,852 for the six months ended September 30, 2023, compared to a profit of HKD 19,919,683 in the previous year[30]. - The total comprehensive income for the six months ended September 30, 2023, was HKD 12,139,272, down from HKD 19,919,683 in the previous period, representing a decrease of approximately 39.2%[34]. - The company reported a pre-tax loss of HKD 8,807,091 for the six months ended September 30, 2023, compared to a profit of HKD 20,825,939 in the same period of 2022[48]. Revenue Breakdown - Revenue from the Wah Wai Hotel was approximately HKD 12.2 million, slightly down from HKD 12.3 million in 2022, with a segment profit of HKD 1.7 million, down from HKD 3.2 million[8]. - The room division revenue was HKD 8.6 million, a decrease of 3.4% from HKD 8.9 million in 2022, while the food and beverage division revenue increased by 5.9% to HKD 3.6 million[8]. - Revenue from serviced properties in Beijing was approximately HKD 4.5 million, down from HKD 6.9 million in 2022, with a segment loss of HKD 0.4 million compared to a loss of HKD 5.8 million in the previous year[9]. - Revenue from Hong Kong operations was HKD 12,544,540 in 2023, a slight decrease from HKD 12,798,874 in 2022[49]. - Revenue from mainland China decreased to HKD 4,461,930 in 2023 from HKD 6,891,425 in 2022, reflecting a decline of 35.3%[49]. Assets and Liabilities - As of September 30, 2023, the company's total assets were HKD 394,630,488, a decrease from HKD 407,678,823 as of March 31, 2023[31]. - The company's total assets decreased to HKD 364,777,202 as of September 30, 2023, from HKD 377,102,990 as of March 31, 2023, a decline of about 3.26%[33]. - The company's current liabilities increased to HKD 29,853,286 from HKD 30,574,833 as of March 31, 2023, reflecting a decrease of approximately 2.35%[33]. - Trade receivables as of September 30, 2023, amounted to HKD 372,145,000, a decrease from HKD 430,560,000 as of March 31, 2023, representing a decline of approximately 13.5%[65]. - Trade payables increased to HKD 613,141,000 as of September 30, 2023, compared to HKD 576,641,000 as of March 31, 2023, reflecting an increase of about 6.3%[68]. - Other payables and accrued expenses rose significantly to HKD 8,517,839,000 as of September 30, 2023, up from HKD 7,555,697,000 as of March 31, 2023, indicating an increase of approximately 12.7%[68]. Cash Flow and Investments - The net cash used in operating activities for the six months ended September 30, 2023, was HKD (5,407,146), compared to HKD 4,531,811 for the same period in 2022, indicating a significant decline in cash flow[36]. - The net cash generated from investing activities for the six months ended September 30, 2023, was HKD 11,857,924, compared to HKD 5,262,713 in the previous year, indicating an increase of approximately 125%[36]. - The company had no significant investments or acquisitions during the reporting period[20]. Development Plans - The company has submitted a development application for a site in Kwai Chung, with a total site area of approximately 48,313 square meters and a maximum development gross floor area of 241,522 square meters[16]. - The approved development plan includes 14 buildings with a total of 5,973 residential units, to be implemented in four phases[16]. Share Capital and Stock Options - The company issued shares worth HKD 1,272,200 during the period, compared to HKD 1,902,094 in the same period last year, reflecting a decrease of about 33%[36]. - The total number of unexercised stock options under both the old and new plans as of September 30, 2023, is 64,293,000 shares, representing approximately 8.54% of the issued shares[84]. - The total number of stock options held by employees as of September 30, 2023, is 800,000[82]. - The company has not granted, exercised, canceled, or allowed any stock options to lapse during the reporting period, except for those mentioned[84]. Corporate Governance - The company has maintained compliance with corporate governance codes, with regular reviews to uphold high standards[97]. - The audit committee consists of four independent non-executive directors, ensuring oversight of financial reporting[100]. - The chairman and CEO roles have been consolidated under Mr. Qiu Da Wei since July 19, 2023, to ensure strong leadership[97].

香港交易及結算所有限公司及香港聯合交易所有限公司（「聯交所」）對本公告 內容概不負責，對其準確性或完整性亦不發表任何聲明，並表明不就本公告全 部或任何部份內容產生或因倚賴該等內容引致的任何損失承擔任何責任。 FAR EAST HOTELS AND ENTERTAINMENT LIMITED 遠 東 酒 店 實 業 有 限 公 司 （於香港註冊成立之有限公司） （股份代號：00037） 截 至 二 零 二 三 年 九 月 三 十 日 止 六 個 月 中 期 業 績 公 告 中期業績 遠東酒店實業有限公司（「本公司」）董事會（分別為「董事」及「董事會」）宣佈，本 公司及其附屬公司（「本集團」）截至二零二三年九月三十日止六個月（「本期間」） 之未經審核簡明綜合財務業績連同相關比較數字如下： 簡明綜合損益及其他全面收益表 截至二零二三年九月三十日止六個月 截至九月三十日止六個月 二零二三年 二零二二年 （未經審核） （未經審核） 附註 港元 港元 收入 3 17,378,176 19,884,178 ...

香港交易及結算所有限公司及香港聯合交易所有限公司（「聯交所」）對本公告 內容概不負責，對其準確性或完整性亦不發表任何聲明，並表明不就本公告全 部或任何部份內容產生或因倚賴該等內容引致的任何損失承擔任何責任。 FAR EAST HOTELS AND ENTERTAINMENT LIMITED 遠 東 酒 店 實 業 有 限 公 司 （於香港註冊成立之有限公司） （股份代號：00037） 截 至 二 零 二 三 年 三 月 三 十 一 日 止 年 度 末 期 業 績 公 告 業績 遠東酒店實業有限公司（「本公司」）董事會（分別為「董事」及「董事會」）宣佈，本 公司及其附屬公司（「本集團」）截至二零二三年三月三十一日止年度（「本年度」） 之經審核綜合財務業績連同有關比較數字載列如下： 綜合損益及其他全面收益表 截至二零二三年三月三十一日止年度 二零二三年 二零二二年 附註 港元 港元 收益 2 37,166,269 51,070,156 銷售成本 (31,258,387) (26,396,703) ...

Financial Performance - The company recorded an unaudited consolidated profit attributable to owners of the company of HKD 19,919,683 for the six months ended September 30, 2022, compared to HKD 15,806,412 in the same period last year[9] - Overall revenue decreased by approximately 25.2% to HKD 19.9 million, and gross profit significantly declined by 51.9% to HKD 5 million for the six months ended September 30, 2022[11] - The Beijing serviced property recorded a total revenue of HKD 6.9 million, a significant decrease of 48.9%, and a loss of HKD 5.8 million for the six months ended September 30, 2022[12] - The securities investment and trading segment recorded a loss of HKD 6.3 million, including a fair value decrease of HKD 7.8 million in financial assets at fair value through profit or loss[16] - The company's revenue for the six months ended September 30, 2022, was HKD 19.9 million, a decrease from HKD 26.6 million in the same period in 2021[31] - The company's profit attributable to owners for the six months ended September 30, 2022, was HKD 19.9 million, up from HKD 15.8 million in the same period in 2021[31] - Net profit for the period ending September 30, 2022, was HKD 19,919,683[35] - Total comprehensive income for the period ending September 30, 2022, was HKD 12,139,272[35] - Pre-tax profit for the six months ended September 30, 2022, was HKD 20,825,939, up from HKD 14,102,131 in the same period in 2021[53][57] - Basic and diluted earnings per share for the six months ended September 30, 2022, were calculated based on a profit attributable to owners of the company of HKD 19,919,683, compared to HKD 15,806,412 for the same period in 2021[64] Property Investments - The fair value of Hong Kong investment properties increased by HKD 36.5 million, compared to HKD 31.9 million in the same period last year[11] - The company's property investment segment in Hong Kong generated a profit of HKD 35,254,506 in 2022, up from HKD 29,848,896 in 2021[53] - Revenue from overseas property investments was HKD 193,879 in 2022, compared to none in 2021[56] Cash Flow and Financial Position - The net proceeds of HKD 12.7 million from the share placement in March 2021 were fully utilized as general working capital by September 30, 2022[18] - The company's financial assets at fair value through profit or loss amounted to approximately HKD 19.5 million as of September 30, 2022, down from HKD 22.6 million on March 31, 2022[21] - The company held bank deposits and cash totaling HKD 31.2 million as of September 30, 2022, an increase from HKD 22.7 million on March 31, 2022[22] - The company's total equity increased to HKD 396.9 million as of September 30, 2022, up from HKD 382.8 million on March 31, 2022[22] - The company's total assets as of September 30, 2022, were HKD 366.2 million, slightly down from HKD 367.7 million on March 31, 2022[32] - The company's current assets as of September 30, 2022, were HKD 71.6 million, up from HKD 65.7 million on March 31, 2022[32] - The company's net current assets as of September 30, 2022, were HKD 41.7 million, up from HKD 30.5 million on March 31, 2022[34] - The company's total equity and reserves as of September 30, 2022, were HKD 396.9 million, up from HKD 382.8 million on March 31, 2022[34] - Cash generated from operating activities for the period ending September 30, 2022, was HKD 4,531,811[38] - Net cash from investing activities for the period ending September 30, 2022, was HKD 5,262,713[38] - Net cash used in financing activities for the period ending September 30, 2022, was HKD 2,672,410[38] - Cash and cash equivalents increased by HKD 7,122,114 for the period ending September 30, 2022[38] - Total equity as of September 30, 2022, was HKD 396,871,086[35] Revenue Segments - The company operates in five segments: hotels in Hong Kong, serviced property rentals in Mainland China, property investment in Hong Kong, overseas property investment, and securities investment and trading[44] - Total revenue for the six months ended September 30, 2022, was HKD 19,884,178, compared to HKD 26,599,543 for the same period in 2021[53][56] - Revenue from hotel operations in Hong Kong decreased to HKD 12,349,618 in 2022 from HKD 12,611,472 in 2021[46][49] - Revenue from property management services in Mainland China increased significantly to HKD 2,883,179 in 2022 from HKD 489,487 in 2021[46][49] Shareholder Information - Mr. Chiu Tat Wai holds a total of 177,415,875 shares, representing approximately 23.70% of the issued shares[87] - Ms. Chiu Wing Nga holds a total of 23,500,000 shares, representing approximately 3.14% of the issued shares[87] - Mr. Chiu Wah Chun holds a total of 8,100,000 shares, representing approximately 1.08% of the issued shares[87] - Mr. Tsai Wai Shek holds a total of 7,000,000 shares, representing approximately 0.94% of the issued shares[87] - Mr. Yip Shing Hing holds a total of 6,000,000 shares, representing approximately 0.80% of the issued shares[87] - Mr. Ng Wing Hang holds a total of 6,000,000 shares, representing approximately 0.80% of the issued shares[87] - Mr. Chiu Tat Wai's company, Energy Overseas Ltd., holds 78,430,299 shares[87] - Ms. Chiu Wing Nga holds 18,500,000 related shares[87] - Ms. Chiu Kau Kam Lan holds a total of 2,188,000 shares, representing approximately 0.29% of the issued shares[87] - Mr. Chiu Tat Wai holds 6,000,000 shares under the old share option plan[91] - The company issued 14,677,000 shares due to the exercise of share options under the new plan, with a consideration of HKD 1,902,094[98] - As of September 30, 2022, the company had 68,293,000 unexercised share options, representing approximately 9.12% of the issued shares[95] - Two share option holders exercised their options on April 20, 2022, purchasing 12,300,000 shares at HKD 0.1272 and 2,377,000 shares at HKD 0.1420[95] - The weighted average closing price of the shares immediately before the exercise date was HKD 0.9600[95] - Mr. Qiu De-gen (deceased) held 113,726,476 shares, representing 15.19% of the issued shares[100] - Achiemax Limited held 72,182,400 shares, representing 9.64% of the issued shares[100] - Energy Overseas Ltd. held 78,430,299 shares, representing 10.48% of the issued shares[100] Corporate Governance - The company has complied with all code provisions of the Corporate Governance Code in Appendix 14 of the Listing Rules, except for code provision C.2.1, which requires the separation of the roles of Chairman and CEO[107] - The Chairman's role has been vacant since March 17, 2015, with Executive Director Mr. David Chiu assuming the roles of Chairman, Managing Director, and CEO[108] - The Board believes that the current structure of combining the roles of Chairman, Managing Director, and CEO does not impair the balance of power and authority between the Board and management[108] - All major decisions are made after consulting Board members and relevant Board committee members, with three independent non-executive directors providing independent perspectives[108] - The Board will continue to regularly review and monitor corporate governance practices to ensure compliance with the Code and maintain high standards of corporate governance[108] - The Audit Committee, composed of three independent non-executive directors, has reviewed the accounting principles and practices adopted by the Group, including the unaudited consolidated financial statements for the six months ended September 30, 2022[111] Operational Highlights - The company submitted an application for a comprehensive development project in Kwai Chung, Hong Kong, on January 25, 2022[16] - The company employed approximately 70 staff members as of September 30, 2022, with no change from March 31, 2022[18] - Government subsidies received in 2022 amounted to HKD 678,400, with no subsidies reported in 2021[58] - Financial costs decreased to HKD 484,754 in 2022 from HKD 669,281 in 2021[59] - Trade receivables as of September 30, 2022, amounted to HKD 885,974, with HKD 620,409 being over 60 days due[69] - Trade and other payables and accrued expenses totaled HKD 6,087,828 as of September 30, 2022, up from HKD 9,816,603 as of March 31, 2022[71] - Bank borrowings as of September 30, 2022, amounted to HKD 15,023,700, with HKD 12,180,533 being repayable on demand[76] - The company issued and fully paid ordinary shares increased to 748,529,810 as of September 30, 2022, from 733,852,810 as of March 31, 2022[79] - Minimum lease receivables as of September 30, 2022, were HKD 3,494,838, down from HKD 8,443,243 as of March 31, 2022[82] - The weighted average number of ordinary shares for calculating basic earnings per share was 746,524,755 for 2022, up from 732,852,810 in 2021[64] - The weighted average number of ordinary shares for calculating diluted earnings per share was 785,375,156 for 2022, compared to 733,103,033 in 2021[64]

Financial Performance - The company's audited consolidated profit attributable to shareholders for the year ended March 31, 2022, was HKD 53,982,244, a significant increase from HKD 7,890,996 in the previous year, representing a growth of approximately 584%[18]. - The group's total revenue for the year was approximately HKD 51.1 million, an increase of 2.8% compared to HKD 49.7 million in 2021[20]. - Gross profit for the year was approximately HKD 24.7 million, a decrease of 7.1% from HKD 26.5 million in 2021[20]. - Profit attributable to owners for the year was approximately HKD 54 million, compared to HKD 7.9 million in 2021[20]. - The fair value of investment properties in Hong Kong increased significantly by approximately HKD 78.9 million, compared to HKD 14.5 million in 2021[20]. - The group recorded a loss of approximately HKD 6.5 million from serviced properties in Beijing, compared to a loss of HKD 3.6 million in 2021[21]. - The group incurred a loss of approximately HKD 6.8 million from securities investments, compared to a profit of HKD 10.2 million in 2021[21]. - As of March 31, 2022, the group had cash and bank balances of approximately HKD 22.7 million, down from HKD 27 million in 2021[26]. - The group's total equity was approximately HKD 382.8 million, compared to HKD 325.4 million in 2021, resulting in a debt-to-equity ratio of approximately 4.3%[26]. - As of March 31, 2022, the fair value of financial assets recognized in profit or loss was approximately HKD 22.6 million, down from HKD 29 million in 2021[38]. Dividends and Share Issuance - The board of directors decided not to recommend the payment of a final dividend for the year, consistent with the previous year[19]. - The company issued 1,000,000 shares at a price of HKD 127,200 due to the exercise of stock options during the year[59]. - Following the reporting period, the company issued 14,677,000 shares at a price of HKD 1,902,094 due to the exercise of stock options[59]. Human Capital and Employee Development - The company emphasizes the importance of human capital for long-term development and provides competitive compensation and training opportunities[47]. - The total number of employees is reported at 800,000[79]. - The employee turnover rate for the reporting period was 44.00%, with 11 employees leaving the company[184]. - The company provided comprehensive medical insurance for full-time employees, including medical, surgical, hospitalization, and employee compensation insurance[185]. - The company emphasized the importance of employee training and development, offering various training programs to support personal growth[190]. - Total training hours completed by employees reached 46, with an average training hour of 2.00 per employee[192]. - 56.52% of male employees and 43.48% of female employees participated in training programs, indicating a focus on gender inclusivity[192]. - The company aims to enhance employee training in the coming years to ensure comprehensive development for both employees and the hotel[192]. Environmental Sustainability - The company is committed to maintaining environmental sustainability and has implemented policies to minimize its environmental impact[43]. - The hotel generated a total of 840.90 tons of greenhouse gas emissions, an increase of 11.32% compared to 755.38 tons in the previous year[140]. - Nitrogen oxides (NOx) emissions increased significantly by 135.11%, from 0.52 kg to 1.24 kg, primarily due to increased gas usage[139]. - The hotel consumed 67.20 liters of gasoline, a decrease of 62.67% from 180.00 liters in the previous year[151]. - Liquefied petroleum gas consumption rose by 147.79% to 6,713.20 kg, compared to 2,709.20 kg in the previous year[151]. - Electricity consumption increased by 40.97% to 2,059,734.00 kWh, up from 1,461,123.00 kWh in the previous year[151]. - Water consumption increased by 10.32% to 26,733.00 cubic meters, compared to 24,233.00 cubic meters in the previous year[151]. - The hotel aims to reduce energy consumption and greenhouse gas emissions through various measures, including utilizing natural sea breezes and maintaining clean lighting fixtures[151]. - The hotel has improved its paper waste reduction, generating 0.61 tons of carbon emissions from paper usage, down from 1.12 tons in the previous year, indicating a significant reduction of approximately 45%[155]. - The hotel has developed a system to record hazardous waste and paper recycling, demonstrating a commitment to reducing environmental impact[161]. - The hotel encourages employees to participate in recycling and environmental protection activities, fostering a culture of sustainability[171]. Governance and Compliance - The company has established a remuneration committee responsible for setting the remuneration policy for all directors and senior management[102]. - The company arranged appropriate directors' and officers' liability insurance for its directors and senior officers during the year[84]. - The company has not entered into any management contracts related to its business during the year[90]. - The company has not entered into any arrangements that would allow directors to benefit from purchasing shares or debt securities of the company or its subsidiaries during the year[77]. - No stock-linked agreements were established during the year that would require the company to issue any shares[78]. - The company has established a transparent recruitment process to prevent the hiring of forced labor and child labor[196]. - No significant violations of labor laws were reported during the reporting period, ensuring compliance with employment regulations[193]. Customer and Supplier Relations - The company recognizes the importance of maintaining close relationships with customers and suppliers for long-term business development[44]. - The largest customer contributed approximately 50% of the total sales, while the top five customers accounted for 68% of the total sales for the year[95]. - The company reported a total procurement amount where the largest supplier accounted for approximately 16% and the top five suppliers accounted for 56% of the total procurement[94]. - The hotel has a total of 43 suppliers, with 41 located in Hong Kong and 2 in China, emphasizing local sourcing for fresh seafood[197]. - The hotel collaborates with online travel agents to enhance marketing and sales through digital platforms[198]. - The company prioritizes suppliers with strong environmental compliance records and social responsibility[197]. - No complaints regarding service quality were received during the reporting period, indicating high customer satisfaction[198].