Financial Performance - Basic earnings per share for the six months ended September 30, 2023, were HKD 0.12, down from HKD 0.16 in 2022[1] - Net profit attributable to shareholders for the six months was HKD 89,000,000, down from HKD 114,000,000 in 2022[6] - The group reported a profit of HKD 89,720,000 for the six months ended September 30, 2023, down from HKD 115,917,000 in the same period last year, representing a decrease of approximately 22.5%[137] - Total revenue for the six months ended September 30, 2023, was HKD 629,084,000, with external sales contributing HKD 394,047,000[87] - Total revenue for the period was HKD 642,508,000, compared to HKD 629,084,000 in the previous year, indicating a slight increase of about 2%[137] - The group's profit before tax for the six months ended September 30, 2023, was HKD 146,728,000, up from HKD 90,884,000 in the same period of 2022, indicating a 61.5% growth[66] - The pre-tax profit for the period was HKD 213,332,000, reflecting a significant performance[87] Assets and Liabilities - As of September 30, 2023, total equity was HKD 11,253,000,000, a decrease from HKD 11,663,000,000 as of March 31, 2023[1] - The total liabilities decreased from HKD 2,384,370,000 to HKD 1,549,415,000, indicating improved financial stability[26] - The total current assets decreased to HKD 3,415,540,000 from HKD 3,514,349,000[26] - The total non-current assets as of September 30, 2023, amount to HKD 16,531,698,000, slightly down from HKD 16,654,773,000 as of March 31, 2023[26] - The total interest-bearing debt as of September 30, 2023, was approximately HKD 6,335,000,000, with about 11% classified as current liabilities[102] - The group's net debt as of September 30, 2023, was approximately HKD 4,523,000,000, with a debt-to-equity ratio of 40%, up from 37% as of March 31, 2023[77] Property Development and Investment - Revenue from property development in mainland China for the six months was HKD 386,000,000, compared to HKD 394,000,000 in 2022, with a corresponding profit before tax of HKD 194,000,000[7] - The company has entered into a joint venture to invest in hotel properties in Japan, acquiring interests in three hotels in Osaka and Tokyo for a total cash consideration of HKD 192,000,000[17] - The company is actively pursuing property investments, including the acquisition of hotel properties in Japan, to expand its portfolio[43] - The company acquired a 50% stake in a development site in South Bay Road for HKD 393,000,000, which will be developed into a luxury residential project[133] Occupancy and Rental Income - The average occupancy rate of the mainland property investment portfolio reached 75%, up from 74% in 2022[10] - The average occupancy rate of the Hong Kong investment portfolio was approximately 95%, an increase from 86% in 2022[12] - Revenue from the Qiaochengfang project in Shenzhen was HKD 188,000,000, down from HKD 229,000,000 in 2022, with a net profit attributable to the group of HKD 15,000,000[9] - The average occupancy rate for the Han Guo City Commercial Center in Shenzhen improved to 70% from 63% year-on-year, indicating a recovery in rental income[142] - The company’s investment property income increased to HKD 29,072,000 from HKD 25,164,000, reflecting a growth of approximately 11.4%[137] Market Conditions and Challenges - The company anticipates a challenging business environment to continue into next year due to high interest rates and slow economic recovery in mainland China[20] - The company is facing a challenging real estate market in mainland China, with concerns over consumer confidence and high youth unemployment rates impacting future outlook[46] - The vacancy rate for prime office space in Hong Kong is nearing 12%, the highest level since the 1980s[21] - The company is preparing for another challenging year, with inflationary pressures expected to persist alongside high interest rates[22] - Despite economic challenges, there are optimistic signs with strong consumer spending and gradual recovery in the travel industry[47] Financial Management and Strategy - The company is adjusting its management and strategies to adapt to high interest rates, aiming to enhance returns from its existing investment portfolio while reducing risks[126] - Future strategies include addressing market uncertainties and exploring new business opportunities to enhance growth prospects[46] - The company plans to finance property acquisitions and developments through internal resources and bank loans, with repayment terms aligned with asset lifespans[104] Dividends and Shareholder Information - The group did not declare an interim dividend for the six months ended September 30, 2023, consistent with the previous year[69] - The company declared a final dividend of HKD 0.125 per share, approved at the annual general meeting on August 31, 2023[98] - The company has no plans to declare an interim dividend for the six months ended September 30, 2023, consistent with the previous year[122] Taxation - The estimated taxable profit in Hong Kong for the year was calculated at a tax rate of 16.5%, with a portion subject to a lower rate of 8.25%[96] - Total tax expense for the six months ended September 30, 2023, was HKD 130,397,000, compared to HKD 97,415,000 in the previous year, representing a year-over-year increase of approximately 33.8%[149] - Deferred tax in other regions for the current period was HKD 122,306,000, up from HKD 103,600,000 in the previous year, indicating a growth of about 17.9%[149] Corporate Governance - The company has adopted a code of conduct for securities trading by its directors, confirming compliance for the six months ended September 30, 2023[84] - The chairman's continuity is deemed crucial for the group's operations, leading to a deviation from corporate governance guidelines regarding rotation of the chairman[109] - The company’s organizational articles do not mandate directors to retire every three years, but it ensures compliance with corporate governance guidelines regarding director rotation[119] - The company’s audit committee has reviewed the financial reporting procedures and internal controls for the six months ended September 30, 2023[111]

Financial Performance - For the fiscal year ending March 31, 2023, the company reported total revenue of HKD 1,049 million, a slight decrease from HKD 1,106 million in the previous year[15] - Shareholders' profit for the year was HKD 153 million, up from HKD 92 million in the previous year, indicating a significant increase of 66%[15] - Basic earnings per share increased to HKD 0.21 from HKD 0.13, reflecting a growth of 61.5%[15] - The company's total equity as of March 31, 2023, was HKD 11,663 million, down from HKD 12,264 million the previous year[15] - The net asset value per share decreased to HKD 16.19 from HKD 17.02, a decline of 4.9%[15] - The company plans to distribute a final dividend of HKD 0.125 per share, consistent with the previous year's dividend[16] - The debt-to-equity ratio was reported at 59% for 2023, compared to 61% in 2022, indicating a slight improvement in financial leverage[9] - The decline in revenue was primarily attributed to a decrease in property sales recognized during the year[15] Investment Properties and Projects - The company recognized fair value gains from investment properties during the year, contributing to the increase in shareholders' profit[15] - The company continues to focus on expanding its investment properties portfolio, with ongoing projects in mainland China[15] - The Beijing South Road project in Guangzhou has a total floor area of approximately 77,700 square meters, with 162 residential units expected to be launched for pre-sale in early 2024[21] - The Ya Yao Oasis project in Foshan has delivered property units generating revenue of HKD 580 million for the fiscal year ending March 31, 2023, compared to HKD 633 million in 2022[24] - The Qiao Cheng Fang project in Shenzhen generated property sales and rental income of HKD 359 million for the fiscal year ending March 31, 2023, down from HKD 601 million in 2022[28] Occupancy Rates - The average occupancy rate of the Han Guo Building in Guangzhou was approximately 93% for the year, down from 98% in 2022[22] - The occupancy rate of the Han Guo City Commercial Center in Shenzhen increased to 68% as of March 31, 2023, up from 64% a year earlier[25] - The Chongqing Han Guo Center achieved an average occupancy rate of 80% for the fiscal year, down from 88% in 2022[30] - The Chongqing Jinshan Commercial Center reported an average occupancy rate of 84% for the year, up from 75% in 2022[31] - The average occupancy rate of the Bao Xuan Hotel in Central Hong Kong was approximately 80%, while the serviced apartments maintained an occupancy rate of over 70%[36] - The average occupancy rate of the boutique hotel in Tsim Sha Tsui increased to approximately 72% for the year ending March 31, 2023, compared to 64% in 2022[38] - The average rental rate for the commercial/office building in Jordan increased to 96% as of March 31, 2023, up from 88% in the previous year[38] Market Outlook and Strategy - The company anticipates that the real estate market in mainland China will stabilize in the medium term due to supportive monetary measures and increased confidence among consumers[43] - The company remains cautiously optimistic about the global market while being vigilant about external threats and volatility[43] - The company is benefiting from the resumption of cross-border travel with mainland China, particularly in the hotel and tourism sectors[43] Corporate Governance - The board of directors emphasized a commitment to sustainable practices, aiming for a 50% reduction in carbon emissions by 2025[55] - The board of directors is committed to maintaining high standards of corporate governance and continuously reviewing and improving governance practices[68] - All directors confirmed compliance with the standard code of conduct for securities trading during the year[69] - The board held four meetings during the review year to discuss business development, operational performance, and financial status[73] - Three out of seven directors are independent non-executive directors, meeting the requirement of at least one-third independence[75] - The company has mechanisms in place to ensure independent opinions are obtained from the board, with independent non-executive directors confirming their independence[74] - The chairman and CEO roles are separated to ensure clear division of responsibilities[76] Shareholder Communication and Meetings - The company maintains a shareholder communication policy to ensure effective communication with all shareholders, with regular disclosures through interim reports, annual reports, and announcements[121] - The board of directors encourages shareholder attendance at the annual general meeting, with notices sent at least 20 business days in advance[121] - The company will hold its annual general meeting on August 31, 2023, with a suspension of share transfer registration from August 28 to August 31, 2023[149] Financial Management - The company has adopted a dividend policy that considers sufficient cash reserves to meet operational needs and future business growth, without guaranteeing any specific dividend amount for any period[114] - The internal audit system is designed to minimize operational risks and ensure compliance with applicable laws and regulations, with the audit committee reviewing its effectiveness during the year[109] - The company has pledged properties with a total book value of approximately HKD 15,902,000,000 as collateral for bank credit[137] - The company employed approximately 360 employees as of March 31, 2023, with compensation based on market conditions and individual performance[139] Risks and Challenges - The company continues to face risks related to the property market in mainland China, including policy changes and currency fluctuations[142] - The company maintains a prudent financing and financial policy, managing its funding needs primarily on a short to medium-term basis[136] Related Party Transactions - The company paid management fees of HKD 14,375,000 to Jianye Industrial, an increase from HKD 13,746,000 in the previous year[175] - The company has entered into a framework agreement with Jianye Construction for a construction project with a total contract amount not exceeding HKD 757,800,000[181] - Payments made to Jianye Construction for the aforementioned project amounted to HKD 19,674,000 for the year ending March 31, 2023[181] - The company has also contracted Jianye Construction for renovation works at a total contract amount not exceeding HKD 96,300,000[181] - Payments made to Jianye Construction for the renovation project totaled HKD 13,186,000 for the year ending March 31, 2023[181]

Financial Performance - For the fiscal year ending March 31, 2023, the group recorded consolidated revenue of HKD 1,049,000,000, a slight decrease from HKD 1,106,000,000 in the previous year[17]. - The net profit attributable to shareholders increased to HKD 153,000,000, compared to HKD 92,000,000 in the previous year, reflecting a significant growth of 66.3%[17]. - Basic earnings per share rose to HKD 0.21, up from HKD 0.13 in the previous year, indicating a 61.5% increase[17]. - The company's revenue for the year ended March 31, 2023, was HKD 1,049,421,000, a decrease of 5.2% compared to HKD 1,106,278,000 in the previous year[33]. - Gross profit for the same period was HKD 556,219,000, down from HKD 593,097,000, reflecting a decline of 6.2%[33]. - The net profit attributable to the company's owners increased significantly to HKD 153,423,000, compared to HKD 91,693,000 in the previous year, representing a growth of 67.3%[33]. - The total comprehensive income for the year ended March 31, 2023, was a loss of HKD 546,536,000, compared to a profit of HKD 392,368,000 for the previous year[48]. - The company reported a loss attributable to non-controlling interests of HKD 511,007,000 in 2023, compared to a loss of HKD 35,529,000 in 2022[48]. Asset and Equity Management - The group's total equity as of March 31, 2023, was HKD 11,663,000,000, down from HKD 12,264,000,000 a year earlier, representing a decrease of 4.9%[3]. - The total value of non-current assets increased to HKD 16,654,773,000 from HKD 16,416,000, reflecting a growth of 1.5%[35]. - The company's net asset value decreased to HKD 11,876,517,000 in 2023 from HKD 12,513,107,000 in 2022, a decline of about 5.1%[50]. - The total equity attributable to the owners of the company was HKD 11,663,129,000 in 2023, down from HKD 12,264,190,000 in 2022, reflecting a decrease of about 4.9%[50]. Revenue Streams - Revenue from property development was HKD 579,625,000, while property investment generated HKD 419,377,000, leading to total revenue of HKD 1,049,421,000[85]. - The group recorded revenue from property unit deliveries of HKD 580 million for the year ended March 31, 2023, compared to HKD 633 million in 2022, reflecting a decrease of approximately 8.4%[22]. - The property and parking management segment recorded revenue of HKD 38,000,000, an increase from HKD 35,000,000 in the previous year, reflecting a growth of 8.6%[15]. - Total revenue from property sales was HKD 632,973,000, with property management income contributing HKD 38,367,000[92]. Occupancy and Leasing Performance - The average occupancy rate for the hotel business improved to approximately 72% from 64% in the previous year, showing recovery post-pandemic[13]. - The average occupancy rate for the boutique hotel was approximately 80%, down from 82% in 2022, while the serviced apartments maintained an average occupancy rate of over 70%[26]. - The average occupancy rate of the Chongqing Jinshan Commercial Center improved to 84% from 75% in the previous year, indicating a recovery in leasing performance[39]. - The average occupancy rate of the Han Guo Zuo Dun Center increased to 96% from 88% in the previous year, showing strong demand for commercial space[41]. Debt and Liabilities - The company has seen a significant reduction in current liabilities, decreasing to HKD 2,384,370,000 from HKD 4,153,193,000, a decline of 42.6%[35]. - Non-current liabilities increased to HKD 5,908,235,000 in 2023 from HKD 3,872,220,000 in 2022, representing a growth of approximately 52.5%[50]. - Interest-bearing bank loans rose significantly to HKD 4,561,621,000 in 2023 from HKD 2,419,303,000 in 2022, marking an increase of approximately 88.6%[50]. - The net debt as of March 31, 2023, was approximately HKD 4,401,000,000, an increase of 19.2% from HKD 3,693,000,000 in 2022, resulting in a debt ratio of 37% compared to 30% in the previous year[129]. Market Outlook and Strategic Initiatives - The group anticipates that the Hong Kong economy will benefit from the return of tourists and local consumption growth, with a projected GDP growth of 2.7% in the first quarter of 2023[31]. - The group plans to launch pre-sales of residential units in early 2024, indicating ongoing market expansion efforts[7]. - The group is implementing an asset enhancement program to optimize the hotel and serviced apartment business, with renovation plans expected to be completed by 2024[26]. - The group is maintaining a cautious optimism regarding global market improvements while remaining vigilant about external threats and market volatility[31]. Governance and Compliance - The audit committee has been regularly meeting since its establishment, with at least two meetings held annually to review and monitor the financial reporting process and internal controls of the group[149]. - The consolidated financial statements for the year ended March 31, 2023, have been agreed upon by the company's auditor, Ernst & Young[149]. - The board of directors includes executive directors and independent non-executive directors, ensuring a diverse governance structure[151].

Financial Performance - The group's unaudited consolidated revenue for the six months ended September 30, 2022, was HKD 629 million, a slight increase from HKD 608 million in the previous year[17]. - Shareholders' net profit for the same period was HKD 114 million, down from HKD 122 million year-on-year, with a related net profit of HKD 103 million after excluding fair value gains from investment properties[17]. - Basic earnings per share were HKD 0.16, compared to HKD 0.17 in the previous year[18]. - The group's equity attributable to shareholders decreased to HKD 11.377 billion from HKD 12.264 billion as of March 31, 2022, primarily due to exchange rate differences[18]. - The total comprehensive income for the six months ended September 30, 2022, was a loss of HKD 796,647,000, compared to a profit of HKD 237,712,000 in the previous year[86]. - The net profit for the period was HKD 115,917 million, down from HKD 122,193 million, which is a decline of about 5.2%[76]. - The profit before tax for the six months ended September 30, 2022, was HKD 213,332 million, compared to HKD 216,513 million in the previous year, reflecting a decrease of approximately 1.0%[76]. - Gross profit for the same period was HKD 347,076 million, slightly down from HKD 349,818 million, indicating a decrease of about 0.8%[76]. Property Development and Investment - Property development revenue for the six months was HKD 394 million, up from HKD 377 million in the previous year, with a pre-tax profit of HKD 173 million compared to HKD 213 million[20]. - The group recorded property sales revenue of HKD 394 million for the period, with contracted but unrecognized sales amounting to RMB 293 million expected to be recognized in the second half of the fiscal year[23]. - Investment property revenue remained stable at HKD 212 million, with a pre-tax profit of HKD 138 million, up from HKD 86 million in the previous year[25]. - The group’s share of profit from the Qiaochengfang project was HKD 17 million, down from HKD 22 million year-on-year, with recognized revenue of RMB 200 million[24]. - The group’s property development segment reported a profit of HKD 173,303,000, while the property investment segment reported a profit of HKD 138,276,000 for the six months ended September 30, 2022[109]. Cash Flow and Debt - The group held cash and bank balances totaling approximately HKD 1,771,000,000 as of September 30, 2022, a decrease from HKD 1,877,000,000 as of March 31, 2022[68]. - The total interest-bearing debt of the group was approximately HKD 5,643,000,000, an increase from HKD 5,570,000,000 as of March 31, 2022[68]. - Approximately 39% of the total debt was classified as current liabilities, down from 56% as of March 31, 2022[68]. - The net interest-bearing debt as of September 30, 2022, was approximately HKD 3,872 million, resulting in a debt-to-equity ratio of 33%, up from 30% as of March 31, 2022[69]. - New bank loans amounted to HKD 1,272,234,000, significantly higher than HKD 187,214,000 in the previous year[91]. Market Conditions and Strategy - The group continues to promote the sale of remaining property units despite a sluggish property market[23]. - The company anticipates a cautious optimism regarding the local economy due to increased public housing supply and large-scale infrastructure projects[39]. - The company provided rental concessions to certain retail tenants in mainland China due to the impact of COVID-19 restrictions[32]. Shareholder Information - Dr. Wang holds 502,262,139 shares, representing 69.72% of the company's issued shares[49]. - Lucky Year Finance Limited owns 490,506,139 shares, accounting for 68.09% of the total issued shares[49]. - The company has no major shareholders or other individuals with recorded interests in the company's shares as of September 30, 2022[51]. Corporate Governance - The group’s financial performance for the six months ended September 30, 2022, was reviewed by the audit committee, although it remains unaudited[66]. - The company has adopted a revised terms of reference for the remuneration committee, which deviates from the corporate governance code[65]. - The board did not recommend an interim dividend for the six months ended September 30, 2022, maintaining a conservative approach[142]. Operational Highlights - The total floor area of completed investment properties in Hong Kong is approximately 474,000 square feet, with an average occupancy rate of 86% as of September 30, 2022, compared to 85% in 2021[27]. - The total floor area of completed investment properties in mainland China is approximately 446,000 square meters, with an average occupancy rate of 63% as of September 30, 2022, up from 67% in 2021[29]. - The retail segment's average occupancy rate in mainland China is 92%, while the office units have been leased at 57%[32]. - The company manages 23 parking lots with approximately 2,050 parking spaces as of September 30, 2022, unchanged from March 31, 2022[34]. Financial Commitments - The group has committed but undrawn bank credit facilities amounting to approximately HKD 797,000,000 available for operational funding[68]. - The group’s capital commitments for property development costs amounted to HKD 189,078,000, a decrease from HKD 264,610,000 as of March 31, 2022[154].

Financial Performance - For the fiscal year ending March 31, 2022, the group's consolidated revenue was HKD 1,106 million, a decrease from HKD 1,276 million in the previous year[22] - Shareholders' profit attributable to the company was HKD 92 million, down from HKD 122 million in the previous year[22] - Excluding fair value losses on investment properties, the adjusted profit attributable to shareholders would be HKD 172 million, compared to HKD 133 million in the previous year[22] - Basic earnings per share were HKD 0.13, down from HKD 0.17 in the previous year[22] - The revenue from the delivery of the second and third phases of the Yao Yao Oasis project was HKD 633 million for the fiscal year ending March 31, 2022, compared to HKD 957 million in the previous year[34] - The group's revenue decreased by 13% from HKD 1,276,000,000 to HKD 1,106,000,000, with 57.2% from property sales, 39.3% from property leasing, and 3.5% from property and parking management[147] Shareholder Equity and Dividends - As of March 31, 2022, shareholders' equity was HKD 12,264 million, an increase from HKD 11,976 million the previous year[23] - The proposed final dividend for the year ending March 31, 2022, is HKD 0.125 per share, unchanged from the previous year[165] - As of March 31, 2022, the distributable reserves amount to HKD 267,516,000, with HKD 90,054,000 recommended for the final dividend[172] Occupancy Rates and Property Management - The overall occupancy rate of the group's investment properties improved during the year[22] - The average occupancy rate of the Hong Kong City Commercial Center reached 64% as of March 31, 2022, up from 39% in the previous year[36] - The office units in the Shenzhen City Commercial Center had an occupancy rate of 58% as of March 31, 2022, compared to 30% in the previous year[36] - The average occupancy rate of the service apartments in the Shenzhen City Commercial Center remained stable at around 90% despite the impact of COVID-19[40] - The overall average occupancy rate for the integrated buildings in Chongqing was 75% as of March 31, 2022, consistent with the previous year's rate[48] - The average occupancy rate of Chongqing Hanguo Center reached 88% for the fiscal year ending March 31, 2022, consistent with the previous year[49] - The average occupancy rate of the Bao Huan Hotel in Central was approximately 82% for the fiscal year ending March 31, 2022, up from 71% in the previous year[53] - The average occupancy rate of the Bao Huan Hotel in Tsim Sha Tsui was approximately 64% for the fiscal year ending March 31, 2022, slightly down from 66% in the previous year[53] - The average occupancy rate of the Hanguo Jordan Center rose to 88% for the fiscal year ending March 31, 2022, compared to 69% in the previous year[54] Projects and Developments - The Beijing South Road project is expected to be completed in the fiscal year 2023/2024, with residential units planned for pre-sale in 2023[31] - The total floor area of the Beijing South Road project is approximately 77,000 square meters, including a 30-story commercial/residential building and a 32-story commercial/office building[29] - The total floor area of the Yao Yao Oasis project is approximately 273,000 square meters, with the final phase consisting of 19 buildings providing about 550 units[34] - The newly completed data center in Hong Kong has a total floor area of approximately 228,000 square feet and is fully leased to a well-known international data center operator, providing stable rental income[50] Corporate Governance - The company reported a commitment to maintaining high standards of corporate governance and continuously reviewing and improving governance practices[85] - The board of directors held two meetings during the fiscal year, which is below the recommended frequency of at least four meetings per year[92] - The chairman and CEO roles are separated to ensure clear division of responsibilities, with the chairman overseeing the board's functions and overall strategy[94] - The company has adopted a standard code for securities trading by directors, confirming compliance by all directors during the year[86] - The board consists of both executive and independent non-executive directors, ensuring independent opinions on development, performance, and risk management[90] - The company emphasizes the importance of independent non-executive directors, who have confirmed their independence according to listing rules[90] - The company’s governance practices include a requirement for directors to retire and seek re-election at least every three years, although the chairman will not rotate[98] - The company has a structured approach to decision-making, with executive directors responsible for significant corporate decisions and overall business operations[96] - The board is responsible for monitoring the financial performance and internal controls of the group[90] - The company aims to ensure smooth operations through stable leadership by maintaining the chairman's continuous term[98] Risk Management and Market Conditions - The company continues to face risks related to the property market in mainland China, including policy changes and currency fluctuations[159] - The company closely monitors interest rate fluctuations to mitigate risks associated with variable rate borrowings[161] - The company has established procedures to manage contractor performance to minimize risks related to project delays and cost overruns[162] Strategic Initiatives and Future Outlook - The company is exploring new business opportunities and implementing cost control measures amid challenging market conditions[53] - The company remains cautiously optimistic about the economic outlook while being vigilant about global market volatility[59] - The company provided a positive outlook for the next fiscal year, projecting revenue growth of BB% and an increase in user engagement metrics[66] - New product launches are expected to contribute an additional $CC million in revenue, with a focus on innovative technology solutions[66] - The company is expanding its market presence in Asia, targeting a growth rate of DD% in that region over the next two years[66] - Strategic acquisitions are planned to enhance the company's portfolio, with an estimated investment of $EE million in the upcoming quarter[66] - The company is investing in research and development, allocating $FF million to new technology initiatives aimed at improving operational efficiency[66] - The management team emphasized the importance of sustainability in their future strategies, aiming for a reduction in carbon footprint by GG% by 2025[66] - The company has set a goal to increase its market share by HH% in the next fiscal year through targeted marketing campaigns[66] - Overall, the company remains optimistic about its growth trajectory, with a commitment to delivering shareholder value and enhancing customer satisfaction[66] Financial Position and Debt - As of March 31, 2022, the total interest-bearing debt was approximately HKD 5,570,000,000, with 56% classified as current liabilities[148] - The group's cash and bank balances amounted to approximately HKD 1,877,000,000, including restricted bank deposits of HKD 85,000,000[148] - The total equity of shareholders increased to approximately HKD 12,264,000,000, primarily due to retained earnings and asset appreciation[151] - The debt-to-equity ratio was calculated at 30%, down from 31% the previous year[151] - The group has committed but undrawn bank credit facilities totaling approximately HKD 1,458,000,000 available for operational funding[148] - The group has pledged properties with a total book value of approximately HKD 16,238,000,000 as collateral for bank credit[154] - The group aims to generate sufficient recurring rental income to cover operational expenses, including administrative costs, financial costs, and dividends[143] Supplier and Procurement - The top five suppliers accounted for 65% of total procurement, with the largest supplier alone representing 25%[173] Shareholder Information - The company will suspend share transfer registration from August 22 to August 25, 2022, for the upcoming annual general meeting[166] - The final date for trading shares with entitlement to the proposed final dividend is August 29, 2022[167] - As of March 31, 2022, Dr. Wang holds 502,262,139 ordinary shares, representing 69.72% of the company's issued shares[186] - Dr. Wang's controlled company, Lucky Year, owns 490,506,139 shares, accounting for 68.09% of the company's issued shares[195] - The shares held by Dr. Wang are primarily through controlled companies, indicating a significant concentration of ownership[189]

Financial Performance - The group's unaudited consolidated revenue for the six months ended September 30, 2021, was HKD 608 million, a decrease from HKD 749 million in 2020[17] - Shareholders' net profit for the same period was HKD 122 million, up from HKD 92 million in 2020, excluding fair value losses on investment properties[17] - Basic earnings per share increased to HKD 0.17 from HKD 0.13 in the previous year[17] - The group reported a revenue of HKD 608,375,000 for the six months ended September 30, 2021, a decrease of 18.8% compared to HKD 749,378,000 for the same period in 2020[75] - The gross profit for the same period was HKD 349,818,000, representing an increase of 6.6% from HKD 328,025,000 in the previous year[75] - The net profit for the period was HKD 122,193,000, an increase of 31.9% compared to HKD 92,606,000 in the prior year[75] - The total comprehensive income for the period was HKD 244,993,000, compared to HKD 309,826,000 in the previous year[78] - The group's profit before tax for the six months was HKD 216,513,000, compared to HKD 230,832,000 for the same period last year, indicating a decrease of about 6.2%[102][108] Revenue Breakdown - Revenue from property development was HKD 377,046,000, while property investment generated HKD 212,102,000, and management and other services contributed HKD 19,227,000[102] - The company reported a significant increase in revenue from Hong Kong, rising to HKD 93,467,000 from HKD 40,391,000 year-on-year, reflecting an increase of approximately 131.5%[130] - Revenue from mainland China decreased to HKD 514,908,000 from HKD 708,987,000, representing a decline of about 27.4%[130] - Total revenue from customer contracts for the six months ended September 30, 2021, was HKD 399,495,000, comprising property sales of HKD 377,046,000, property management income of HKD 22,449,000, and other income of HKD 848,000[134] - Total revenue from other sources, including rental income, was HKD 208,880,000, leading to a total disclosed revenue of HKD 608,375,000 for the period[134] Property Development and Investment - Property development revenue for the six months was HKD 377 million, down from HKD 609 million in 2020, primarily due to fewer units delivered[19] - Property investment revenue increased to HKD 212 million from HKD 127 million in the previous year, with a significant contribution from a newly leased data center[25] - The total floor area of the Yao Yao Green Oasis project is approximately 273,000 square meters, with future sales expected to generate revenue of RMB 552 million[20] - The group has commenced construction on a mixed-use development project in Yuexiu District, with a total floor area of approximately 77,000 square meters[23] Financial Position - The group's total assets as of September 30, 2021, were approximately HKD 17,114,097,000, a decrease from HKD 17,993,841,000 as of March 31, 2021[80] - The group's equity attributable to shareholders increased to HKD 12,124 million from HKD 11,976 million as of March 31, 2021[17] - The debt-to-equity ratio remained stable at 31% as of September 30, 2021, consistent with the previous period[69] - As of September 30, 2021, the total interest-bearing debt of the group was approximately HKD 5,463,000,000, a decrease from HKD 5,727,000,000 as of March 31, 2021, with 39% classified as current liabilities[66] Cash Flow and Financing - Operating cash flow for the six months ended September 30, 2021, was HKD 218,843 thousand, compared to HKD 76,961 thousand for the same period in 2020, representing an increase of approximately 185%[89] - The company incurred financing cash outflows of HKD 496,974 thousand, compared to HKD 329,160 thousand in the previous year, indicating an increase of about 50.9%[91] - The company has entered into a loan agreement for a maximum principal of HKD 100,000,000 with a Hong Kong bank, intended for refinancing existing bank financing[54] - The loan financing agreement of HKD 1,500,000,000 is for refinancing existing loans of HKD 440,000,000 and general corporate funding needs[50] Corporate Governance - The board did not recommend an interim dividend for the six months ended September 30, 2021[18] - The company has adopted the standard code of conduct for securities trading as per the listing rules, confirming compliance for the six months ending September 30, 2021[58] - The company has deviated from the corporate governance code by having the same individual serve as both Chairman and CEO, which is believed to provide stable leadership[59] - The company has established a nomination committee, which includes a majority of independent non-executive directors, to comply with corporate governance standards[62] - The company has not established a remuneration committee that meets the minimum requirements of the corporate governance code, as it only reviews the remuneration of directors[64] Risk Management - The company emphasizes risk management and operational capability enhancement rather than aggressive growth strategies in the current market environment[35] - The group has no significant concentration of credit risk in trade receivables, which are spread across a large number of different customers[154] - The group has made full provisions for irrecoverable debts in trade receivables, indicating proactive risk management[154] - The group has no collateral or other credit enhancement tools held against its trade receivables balance, reflecting a straightforward credit policy[154]

Financial Performance - For the fiscal year ending March 31, 2021, the group's consolidated revenue was HKD 1,276 million, an increase from HKD 638 million in the previous year[21] - The net profit attributable to shareholders was HKD 122 million, compared to a net loss of HKD 36 million in the previous year[21] - The basic earnings per share rose to HKD 0.17, up from a loss of HKD 0.05 per share in the previous year[21] - The group recorded revenue of HKD 957 million from the delivery of units in the Yaya Oasis project, compared to HKD 193 million in the previous year[35] - The group aims to generate sufficient recurring rental income to cover operational expenses, including administrative costs, financial costs, and dividends[131] - The group’s revenue increased by 100% from HKD 638 million to HKD 1,276 million, with 75.0% from property sales, 22.7% from property leasing, and 2.3% from property and parking management[135] - The company reported a significant increase in revenue, with a year-on-year growth of 15% in the latest fiscal year[64] Property Development and Leasing - Revenue from the residential project Yao Yao Oasis in Nanhai, Guangdong, amounted to HKD 957 million, significantly higher than HKD 193 million in the previous year[21] - The property leasing business generated stable revenue of HKD 290 million, slightly up from HKD 281 million in the previous year[21] - The average occupancy rate of the Hong Kong Tower in Guangzhou was approximately 74% during the year, increasing to 96% as of March 31, 2021[30] - The average occupancy rate of the retail section of the Han Guo City Commercial Center in Shenzhen was 78%, up from 64% in the previous year[39] - The occupancy rate of the office building in the group was 84% as of March 31, 2021, compared to 82% in the previous year[46] - The average occupancy rate for the boutique hotel at 11 Healthy Street was approximately 71% for the year ending March 31, 2021, down from 85% in 2020[50] - The average occupancy rate for the serviced apartments at the same location was about 75%, compared to 83% in the previous year[50] Equity and Dividends - As of March 31, 2021, total equity attributable to shareholders was HKD 11,976 million, an increase from HKD 11,311 million the previous year[22] - The net asset value per share increased to HKD 16.62, compared to HKD 15.70 the previous year[22] - The board proposed a final dividend of HKD 0.125 per share, consistent with the previous year's dividend[25] - As of March 31, 2021, the company's distributable reserves amounted to HKD 340,445,000, with HKD 90,054,000 proposed as the final dividend for the year[157] Debt and Financial Position - As of March 31, 2021, the total interest-bearing debt was approximately HKD 5,727 million, with 24% classified as current liabilities[136] - The total cash and bank balances amounted to approximately HKD 1,909 million, including restricted bank deposits of HKD 114 million[136] - The debt-to-equity ratio was calculated at 31%, a slight decrease from 32% in the previous year[137] Corporate Governance - The company has a strong governance structure, with the board meeting at least twice a year to discuss business development, operational performance, and financial status[89] - The board consists of experienced members, including independent non-executive directors who provide independent opinions on the company's development and risk management[89] - The company has adopted the standard code for securities trading by directors, ensuring compliance with regulations throughout the year[85] - The company is committed to maintaining high standards of corporate governance and continuously reviews its governance practices[84] - The company has a structured approach to board meetings, with formal agendas and sufficient notice provided to all directors[89] Market Outlook and Strategy - The real estate market in mainland China is expected to continue growing due to strong demand and government efforts to maintain stability[56] - The company is cautiously optimistic about the local economic growth prospects, with a GDP growth of 7.9% year-on-year in Q1 2021[57] - The company plans to expand its market presence in Southeast Asia, targeting a 25% market share within the next three years[64] - A strategic acquisition is in progress, which is anticipated to enhance the company's product offerings and increase market competitiveness[64] Sustainability and Innovation - The management team emphasized the importance of sustainability initiatives, aiming for a 30% reduction in carbon footprint by 2025[64] - The company is investing $10 million in research and development for new technologies aimed at improving operational efficiency[64] - The group has implemented measures to save energy consumption and promote the recycling of office supplies and materials[131] Shareholder Communication - The company emphasizes the importance of communication with shareholders through interim reports, annual reports, and other announcements[126] - Shareholders holding at least 5% of total voting rights can request a special general meeting[123] Risk Factors - The group continues to face risks related to the property market in mainland China, including policy changes and currency fluctuations[145]

Financial Performance - The group's unaudited consolidated revenue for the six months ended September 30, 2020, was HKD 749 million, compared to HKD 375 million in 2019, representing a 99.87% increase[17]. - The net profit attributable to shareholders for the same period was HKD 92 million, down from HKD 224 million in 2019, indicating a decrease of 58.92%[17]. - Basic earnings per share were HKD 0.13, compared to HKD 0.31 in 2019, reflecting a decline of 58.06%[18]. - Gross profit for the same period was HKD 328,025,000, up from HKD 263,828,000, indicating a gross margin improvement[81]. - The net profit for the period was HKD 92,606,000, a decrease of 61.3% from HKD 239,431,000 in the previous year[81]. - The company reported a pre-tax profit of HKD 230,832,000 for the six months ended September 30, 2020, compared to HKD 331,078,000 for the same period in 2019, indicating a decrease of approximately 30.2%[106][110]. - The total tax expense for the period was HKD 138,226,000, compared to HKD 91,647,000 in the previous year, reflecting an increase of 50.73%[130]. Property Development - Property development revenue for the six months was HKD 609 million, significantly up from HKD 218 million in 2019, marking an increase of 179.36%[20]. - The group recorded a pre-tax profit of HKD 229 million from property development, compared to HKD 163 million in 2019, an increase of 40.49%[20]. - The group has a contracted but unrecognized property sales amounting to RMB 602 million as of September 30, 2020[23]. - The total floor area of the Yao Yao Oasis project is approximately 273,000 square meters, with the third phase expected to complete internal decoration by the end of 2020[23]. Property Investment - Rental income from property investment was HKD 127 million, down from HKD 140 million in 2019, a decrease of 9.29%[26]. - The pre-tax profit from property investment was HKD 68 million, compared to HKD 191 million in 2019, indicating a decline of 64.42%[26]. - The total floor area of completed investment properties in Hong Kong is approximately 474,000 square feet, with an average occupancy rate of 72% for the six months ended September 30, 2020, down from 85% in 2019[27]. - The total floor area of completed investment properties in mainland China is approximately 446,000 square meters, with an average occupancy rate of 63% for the six months ended September 30, 2020, down from 74% in 2019[30]. - The average occupancy rate for the retail portion of the Han Guo City Commercial Center is 69%, while the office units have been rented out at 42%[31]. Financial Position - The total interest-bearing debt as of September 30, 2020, was approximately HKD 5,790,000,000, with 41% classified as current liabilities[71]. - Cash and bank balances totaled approximately HKD 1,931,000,000, down from HKD 2,168,000,000, primarily due to loan repayments and construction costs[72]. - The debt-to-equity ratio was 33% as of September 30, 2020, compared to 32% as of March 31, 2020[73]. - The total equity attributable to shareholders increased to approximately HKD 11,515,000,000 from HKD 11,311,000,000, mainly due to retained earnings and asset revaluation[72]. - The company’s total assets amounted to HKD 19,896,946,000, with property development assets valued at HKD 2,329,366,000 and property investment assets at HKD 15,140,857,000[114]. Shareholder Information - Dr. Wang holds a total of 502,262,139 shares, representing 69.72% of the company's issued shares[47]. - Lucky Year Finance Limited owns 490,506,139 shares, accounting for 68.09% of the issued shares[47]. - The company has a significant concentration of ownership, with Dr. Wang and related entities controlling over 68% of the shares[48]. Corporate Governance - The company has complied with the corporate governance code, except for deviations regarding the roles of the chairman and CEO, which are held by the same individual[64]. - The company’s non-executive directors do not have a specified term of appointment, but they are subject to rotation and re-election according to the company's articles of association[65]. - The company confirmed compliance with the standards set out in the code for securities trading by directors during the reporting period[63]. Loans and Financing - The company entered into a loan agreement for HKD 1,500,000,000 with a syndicate for refinancing existing loans and general corporate funding[52]. - The domestic loan financing amounts to RMB 450,000,000, primarily for refinancing existing bank financing and general operating funds[53]. - The repayment period for the domestic loan financing is five years from the first drawdown[53]. - The company secured a term loan financing of HKD 100,000,000 from a Hong Kong bank for refinancing existing bank loans, with a repayment period of five years[56]. Employment and Staff - The company employed approximately 320 staff members as of September 30, 2020, a decrease from 330 as of March 31, 2020[77]. - Short-term employee benefits for management totaled HKD 13,953,000 for the six months ended September 30, 2020, down from HKD 14,619,000 for the same period in 2019[152]. Market Conditions - The GDP growth rate in mainland China for Q2 2020 was 3.2%, indicating a rapid recovery post-pandemic[36]. - The unemployment rate in Hong Kong rose to 6.4% as of September 2020, with a year-on-year GDP decline of 3.5% in Q3 2020[37]. - The company maintains a cautious optimism regarding the property market outlook in both Hong Kong and mainland China despite ongoing challenges from the pandemic[36].

Financial Performance - The company's consolidated revenue for the year ended March 31, 2020, was HKD 638 million, down from HKD 1,478 million in 2019, representing a decrease of approximately 56.9%[26] - Shareholders' attributable loss for the year was HKD 36 million, compared to a profit of HKD 1,159 million in 2019, marking a significant decline[26] - The basic loss per share was HKD 0.05, compared to earnings of HKD 1.61 per share in the previous year[26] - Shareholders' equity as of March 31, 2020, was HKD 11,311 million, down from HKD 11,874 million in 2019, indicating a decrease of about 4.7%[27] - The fair value loss of investment properties (net of deferred tax) was HKD 105 million, compared to a fair value gain of HKD 707 million in 2019[26] - The shareholders' attributable profit, excluding the fair value loss, would have been HKD 69 million, down from HKD 452 million in the previous year[26] - The proposed final dividend for the year ending March 31, 2020, is HKD 0.125 per share, consistent with the previous year[31] Market Conditions and Business Environment - The company anticipates continued pressure on the business environment due to the impact of the COVID-19 pandemic, which has disrupted cross-border traffic and commercial activities[28] - The decline in revenue was partly due to the cyclical downturn in property sales from development projects, with significant revenue from the Guangzhou Baocui Garden project recognized in prior years[26] - The company will closely monitor market conditions and adjust its market strategies accordingly[28] - The COVID-19 pandemic has caused significant impacts on the local economy, particularly in the retail, dining, and hotel sectors, leading to unprecedented low occupancy rates for the group's hotels[63] - The group anticipates that the negative effects of the COVID-19 pandemic may persist for several years, despite government measures to mitigate economic impacts[62] - The group expects long-term growth in the mainland property market due to strong demand and targeted government measures to stabilize the real estate market[62] Property and Project Performance - The total floor area of the Baoshu Garden project in Guangzhou is approximately 229,000 square meters, with revenue recognized for the final units delivered amounting to HKD 132,000,000, down from HKD 1,035,000,000 in the previous year[35] - The average occupancy rate of the Honghui Building in Guangzhou is approximately 85%[35] - The Yaya Oasis project in Nanhai has a total floor area of about 273,000 square meters, generating revenue of HKD 193,000,000 for the year, slightly up from HKD 189,000,000 the previous year[41] - The contracted but unrecognized property sales amount to RMB 884,000,000 as of March 31, 2020[41] - The total sales revenue from the Qiaochengfang project for the year is RMB 1,497,000,000, down from RMB 1,884,000,000 in the previous year[48] - The net profit attributable to the company from the Qiaochengfang project is HKD 110,000,000, a decrease from HKD 317,000,000 in the previous year[49] - The average occupancy rate of the Chongqing Hanguo Center is 94%, while the Chongqing Jinshan Commercial Center has an office occupancy rate of 82% and a hotel/office occupancy rate of 62%[52] - The average occupancy rate for the boutique hotel in Central is approximately 85%, while the serviced apartments above it have an average occupancy rate of about 83%[57] - The average occupancy rate for the hotel in Tsim Sha Tsui is approximately 62%, with the remaining floors of the building currently being leased for restaurant and commercial purposes[57] Operational Strategies and Initiatives - The company provided rent concessions to tenants based on individual circumstances to support them during the pandemic[28] - The group implemented cost control measures and offered attractive discounts to customers in response to the challenges faced by the hotel business[57] - The company is focused on expanding its capabilities in developing specialized properties to meet high-level construction requirements from corporate clients[56] - The company reported a significant increase in user data, with a year-over-year growth of 25% in active users[73] - Revenue for the fiscal year reached HKD 1.2 billion, representing a 15% increase compared to the previous year[73] - The company has set a future outlook with a revenue growth target of 10-12% for the next fiscal year[73] - New product development initiatives are underway, focusing on sustainable building materials, expected to launch in Q3 2024[73] - The company plans to expand its market presence in Southeast Asia, targeting a 20% market share by 2025[73] - A strategic acquisition of a local competitor is in progress, projected to enhance market capabilities and increase revenue by 5% annually[73] - The company has invested HKD 200 million in technology upgrades to improve operational efficiency[73] - The management team emphasized the importance of community engagement, with plans to increase corporate social responsibility initiatives by 30%[73] - The company aims to enhance shareholder value through a proposed dividend increase of 10%[73] Corporate Governance - The board of directors has approved a new strategic plan focusing on digital transformation and innovation[73] - The board of directors is committed to maintaining high standards of corporate governance and continuously reviewing and improving governance practices[90] - The company has adopted the standard code for securities transactions by directors, confirming compliance by all directors during the year[91] - The board held at least two meetings during the year to discuss business development, operational performance, and financial status[96] - The chairman also serves as the CEO, which the board believes provides stable and consistent leadership for the company's long-term strategy[98] - Non-executive directors are not appointed for a specific term, but they must retire at the annual general meeting and are eligible for re-election[99] - The company ensures that one-third of the directors must retire at each annual general meeting, except for those holding executive chairman or managing director positions[99] - The company has received written confirmations from independent non-executive directors regarding their independence as per listing rules[95] - The board is responsible for the overall development strategy and monitoring the financial performance and internal controls of the group[95] - The company has not complied with the corporate governance code regarding the separation of the roles of chairman and CEO[98] - The board will review the effectiveness of the current structure to balance power and authority between the board and management[98] - The company has established a remuneration committee consisting of two independent non-executive directors and one executive director, with the committee reviewing the remuneration of directors[105] - The audit committee held two meetings during the review year, with the independent auditor present at all meetings, focusing on financial reports and internal controls[112] - The independent auditor received a total fee of HKD 2,735,000, which includes HKD 2,700,000 for audit services and HKD 35,000 for non-audit services[117] - The company has not established a nomination committee; the board collectively considers suitable candidates for directorship[115] - The company emphasizes diversity in board member selection based on various factors, including gender, age, and professional experience[115] - The board is collectively responsible for corporate governance duties, including policy formulation and compliance monitoring[105] - The company encourages continuous professional development for all directors to enhance their knowledge and skills[103] - The audit committee's responsibilities include reviewing financial reports and assessing the effectiveness of the group's financial and internal control systems[108] - The company maintains training records for directors, summarizing their participation in training sessions for the fiscal year[103] Financial Position and Debt Management - As of March 31, 2020, the total interest-bearing debt of the group was approximately HKD 5,880,000,000, an increase from HKD 5,028,000,000 in 2019, with 32% classified as current liabilities[142] - The group's cash and bank balances totaled approximately HKD 2,168,000,000 as of March 31, 2020, up from HKD 1,963,000,000 in 2019[142] - The net interest-bearing debt was approximately HKD 3,712,000,000, resulting in a debt-to-equity ratio of 32% compared to 25% in 2019[145] - The total equity attributable to shareholders decreased to approximately HKD 11,311,000,000 from HKD 11,874,000,000 in 2019, primarily due to losses attributable to shareholders[143] - The group has committed but undrawn bank credit facilities amounting to approximately HKD 1,412,000,000 available for working capital[142] - The group has pledged properties with a total book value of approximately HKD 14,854,000,000 as collateral for certain bank credit facilities[147] - The five largest suppliers accounted for 86% of total procurement, with the largest supplier alone accounting for 59%[165] - The group has no significant foreign exchange risk as of March 31, 2020, with no foreign exchange contracts or other hedging instruments[146] - The group continues to face risks related to the property markets in mainland China and Hong Kong, including policy changes and economic conditions[152][153] Shareholder Structure and Related Transactions - The company reported a significant ownership structure, with Dr. Wang holding 502,262,139 shares, representing 69.72% of the issued shares[180] - Dr. Wang also has substantial interests in associated companies, including 341,439,324 shares in Jianye Industrial, accounting for 61.93% of its registered capital[180] - The company has a diverse board composition, with independent non-executive directors contributing to its governance and decision-making processes[168] - The board has recommended the re-election of Dr. Ma as an independent non-executive director, citing his valuable contributions and diverse background[172] - The company has received annual confirmations of independence from all independent non-executive directors, ensuring compliance with listing rules[168] - The remuneration of directors is subject to shareholder approval and is reviewed based on the company's performance and market statistics[175] - The company has no significant transactions or contracts involving directors that could impact its business operations[176] - The board's assessment of Dr. Ma's performance indicates a strong capability to provide independent and balanced opinions[172] - The company has a commitment to diversity in its board composition, considering various factors such as gender, age, and professional experience[172] - No directors were granted rights to purchase shares or bonds during the year, ensuring no conflicts of interest in this regard[186] - The company entered into a management contract with Jianye Industrial, incurring management fees of HKD 13,140,000 for the year, compared to HKD 12,327,000 in 2019[187] - As of March 31, 2020, major shareholders include Dr. Wang with 502,262,139 shares (69.72% of issued shares) and Lucky Year with 490,506,139 shares (68.09% of issued shares)[189] - Total development costs paid to Jianrong Foundation for the year ending March 31, 2020, amounted to HKD 10,500,000[195] - The company paid HKD 6,480,000 to Shun Cheung Data Center for consultancy services during the year ending March 31, 2020[195] - Total development costs paid to Jianye Construction for the data center project reached HKD 578,413,000 for the year ending March 31, 2020[198] - The framework agreement with Jianye Construction for the data center project has a total contract amount not exceeding HKD 757,800,000[197] - The company has a significant ownership concentration, with Jianye Industrial holding approximately 68.09% of the issued shares[190] - The management contract with Jianye Industrial does not specify a term and can be terminated with two months' written notice[187] - The company’s related transactions have been approved by independent shareholders as required by listing rules[197] - The company’s financial dealings with related parties are subject to disclosure and approval regulations due to the significant ownership stakes involved[197]

股份代號: 160 2019/20 中期報告 目 錄 公司資料 . 2 主席報告 . 3 一般資料 . 8 簡明綜合損益表 17 簡明綜合全面收益表 . 18 簡明綜合財務狀況表 . 19 簡明綜合權益變動表 . 21 簡明綜合現金流量表 . 22 簡明中期綜合財務報表附註 24 頁次 瀵國置業 中期報告 2019/20 1 公司資料 核數師 安永會計師事務所 股份過戶登記處 卓佳登捷時有限公司 香港皇后大道東183號 合和中心54樓 註冊辦事處 香港干諾道中111號 永安中心23樓 | --- | --- | --- | |----------|-------|----------------------------| | | | | | 電話 | ： | (852) 2523 7177 | | | | | | 圖文傳真 | ： | (852) 2845 1629 | | 電郵 | ： | general@chinneyhonkwok.com | 股份代號 香港聯交所160 網站 http://www.honkwok.com.hk | --- | --- | |---------------|------- ...