Financial Performance - The company recorded an annual loss of HKD 19,880,000 for the fiscal year ending March 31, 2019, compared to a profit of HKD 83,193,000 in the previous year[9]. - The company recorded revenue of HKD 30,594,000 for the fiscal year, a decrease of 10.3% from HKD 34,089,000 in the previous year[25]. - The company reported a net loss of HKD 19,880,000, compared to a profit of HKD 83,193,000 in the previous year, primarily due to non-recurring items and a 6.5% depreciation of the RMB[25]. - Revenue from property sales in China was HKD 24,673,000, down from HKD 29,413,000, reflecting a decline of 16.6%[27]. - Rental income decreased to HKD 4,199,000 from HKD 4,676,000, a decline of 10.2%[27]. - The overall pre-tax loss was HKD 11,508,000, reflecting the challenges faced during the fiscal year[31]. - The company’s return on invested capital was -0.60%, a significant decline from 3.45% in the previous year[41]. - Total revenue for the year ended March 31, 2019, was HKD 30,594,000, a decrease from HKD 34,089,000 in the previous year, representing a decline of approximately 10.3%[191]. - The company reported a loss before tax of HKD (11,508,000) compared to a profit of HKD 91,908,000 in the previous year, indicating a significant downturn[191]. - The net loss for the year was HKD (19,880,000), a stark contrast to the profit of HKD 83,193,000 reported in the prior year[191]. - Basic loss per share was HKD (1.02), a decline from earnings per share of HKD 4.25 in the previous year[191]. Property Sales and Rental Income - The company sold 28 residential units during the review period, a decrease from 44 units sold in the previous fiscal year[17]. - Rental income from the property "Yongsheng Plaza" decreased by approximately 48% year-on-year due to a reduction in available rental units[17]. - As of March 31, 2019, there were 66 unsold residential units remaining, of which 25 units were rented out[17]. - The company has established 34 sale agreements during the review period, with 28 transactions approved and registered in the government property sales system[17]. - The company is actively promoting its properties to improve market performance amid a challenging real estate environment[17]. Financial Position and Assets - As of March 31, 2019, the group held cash and bank balances totaling approximately HKD 262,000,000, representing about 76% of current assets[43]. - The group's capital structure is supported by capital and reserves amounting to HKD 1,500,000,000 as of March 31, 2019[44]. - The total assets as of March 31, 2019, were reported at HKD 100,000,000, reflecting a decrease from HKD 120,000,000 in the previous year[193]. - Total assets decreased from HKD 957,645,000 in 2018 to HKD 944,564,000 in 2019, a decline of approximately 1.1%[196]. - Current assets decreased from HKD 356,815,000 in 2018 to HKD 320,794,000 in 2019, a decline of about 10.1%[196]. - Cash and bank balances decreased from HKD 302,325,000 in 2018 to HKD 262,015,000 in 2019, a decrease of approximately 13.3%[196]. - The company reported a decrease in completed properties held for sale from HKD 73,442,000 in 2018 to HKD 60,523,000 in 2019, a decline of about 17.6%[196]. - The company’s total liabilities decreased from HKD 957,645,000 in 2018 to HKD 944,564,000 in 2019, a decrease of approximately 1.4%[196]. Corporate Governance - The company has adopted all provisions of the corporate governance code as its own governance code[108]. - The board consists of four executive directors, three independent non-executive directors, and one non-executive director[110]. - The attendance rate for board meetings was 75% for the chairman and 100% for the vice chairman and CEO[118]. - The company has established a board diversity policy to enhance governance and efficiency, considering various factors without discrimination[134]. - The independent non-executive directors have confirmed their independence according to the Hong Kong Stock Exchange Listing Rules[69]. - The company has established procedures for shareholders to request special meetings and propose resolutions at general meetings[163]. Risk Management and Internal Controls - The company emphasizes the importance of internal control and risk management, with the board responsible for the effectiveness of these systems[138]. - The company has established a formal risk management policy to address risks associated with its business operations[139]. - A three-year internal audit plan has been approved by the board, with annual reviews of risk management and internal control systems[152]. - No significant control deficiencies were identified in the internal control review conducted in 2019[153]. Future Strategies and Market Outlook - The company aims to explore investment opportunities in the competitive Guangdong property market despite not acquiring any land or properties during the review period[25]. - Future strategies include exploring new market expansions and potential mergers and acquisitions to enhance growth prospects[191]. - The company remains cautiously optimistic about future business performance and aims to enhance competitiveness and shareholder value[25]. Environmental and Social Responsibility - The group has implemented various environmental measures to minimize its impact, focusing on energy efficiency and carbon emission reduction[47]. - A report on environmental, social, and governance matters is expected to be published within three months following the annual report[48].