Revenue and Financial Performance - The group's revenue for the year ended March 31, 2021, was HKD 200 million, an increase of approximately HKD 18 million or 9.9% compared to HKD 182 million for the previous year[9]. - The increase in revenue was primarily driven by the distribution of household and audio-visual products from Emerson, which contributed an additional HKD 8 million, and the trade of household appliances, wires, and cables in China, which added HKD 19 million, representing increases of 16.7% and 15.4% respectively[9]. - The group recorded a loss attributable to shareholders of HKD 86 million, a slight improvement from a loss of HKD 87 million in the previous year[9]. - The group completed the sale of its franchise business, which had generated revenue of HKD 44 million in the previous year, and this revenue is not included in the current year's total[9]. - The group anticipates recognizing revenue from the Ningxiang project upon completion, which is expected to enhance income streams for shareholders[14]. - The company’s revenue from its discontinued franchise business was HKD 44,000,000, down from HKD 58,000,000 in the previous year, primarily due to the impact of COVID-19[34]. - The operating profit from the discontinued franchise business decreased to HKD 24,000,000 from HKD 39,000,000 in the previous year[34]. - Revenue from Emerson's operations increased to HKD 56,000,000, up 16.7% from HKD 48,000,000 in the previous year[19]. - The home appliance business in China generated revenue of HKD 142,000,000, representing a 15.4% increase from HKD 123,000,000 in the previous year[21]. - Revenue from continuing operations for the year ended March 31, 2021, was HKD 200 million, an increase of 9.9% from HKD 182 million in 2020[194]. Property Development and Land Acquisitions - The group acquired seven land parcels across various cities in China for a total consideration of approximately RMB 3.86 billion, with a total area of about 347,986.15 square meters[10]. - The total contracted sales amount for the year was approximately RMB 287 million, with a total contracted sales area of about 59,700 square meters, and an average selling price of RMB 4,800 per square meter[10]. - The group has invested a total of RMB 10,408,200 in the property development sector, marking its entry into this market[23]. - The group successfully acquired land use rights for a residential development project in Gongyi, Henan, at a bid price of RMB 264,300,000 (approximately HKD 296,700,000)[25]. - The company successfully acquired land use rights for eight residential development projects across five provinces in China, increasing total land reserves to 397,489.14 square meters, an increase of 8 times from 49,502.99 square meters as of March 31, 2020[33]. - The total acquisition cost for the eight land parcels amounted to approximately RMB 3,868,300,000[33]. - The projected total gross floor area from the completed developments is approximately 1,252,300 square meters, with a saleable area of about 939,000 square meters[33]. - The company anticipates significant revenue generation from the newly acquired land parcels in the coming years, leveraging its extensive experience in property development in China[36]. - The company plans to continue participating in land auctions organized by local governments to acquire land with substantial development potential[36]. - The group aims to strengthen its domestic property development business by participating in land auctions to increase land reserves[14]. Operational Challenges and Strategic Focus - The group's household appliance business in China saw some growth despite the pandemic, while the information technology services business experienced a significant decline, with no revenue generated during the year[11]. - The management will consider ceasing operations in the information technology services business if conditions do not improve in the coming year[11]. - Emerson's distribution business benefited from reduced competition during the pandemic, and the company will continue to implement cost control measures to navigate the challenging business environment[11]. - The group plans to continue implementing cost control measures to reduce operational costs amid ongoing challenges from the pandemic[38]. - The management is focusing resources on core businesses, particularly property development in China, to enhance shareholder returns in the coming years[38]. - The group has not made any significant new investments during the year, aside from land acquisitions through public auctions[41]. Financial Position and Assets - As of March 31, 2021, the group's net current assets were HKD 2,894,000,000, up from HKD 642,000,000 on March 31, 2020, while the current ratio decreased to approximately 1.82 from 5.49[39]. - The group’s cash and bank balances as of March 31, 2021, were HKD 430,000,000, slightly down from HKD 447,000,000 a year earlier[39]. - The group has a capital commitment of HKD 1,351,000,000 for development properties as of March 31, 2021, compared to HKD 499,000,000 on March 31, 2020[49]. - The group’s debt-to-equity ratio was approximately 3.93 times as of March 31, 2021, indicating a significant increase from the previous year[43]. - The carrying value of development properties is approximately HKD 5,769,000,000, accounting for 90% of the group's total assets[186]. - Development properties are presented at the lower of cost and net realizable value, with management believing that no impairment is necessary[186]. - Current assets increased from HKD 785 million in 2020 to HKD 6,415 million in 2021, driven by a substantial rise in inventory from HKD 266 million to HKD 5,769 million[197]. - Current liabilities surged from HKD 143 million in 2020 to HKD 3,521 million in 2021, largely due to an increase in accounts payable from HKD 81 million to HKD 1,598 million[198]. - The total equity increased slightly from HKD 494 million in 2020 to HKD 498 million in 2021[198]. Corporate Governance and Compliance - The company has established compliance procedures to ensure adherence to applicable laws and regulations[60]. - The company has no reserves available for distribution to shareholders as of March 31, 2021, and March 31, 2020[71]. - The company’s major subsidiaries and their business details are outlined in the consolidated financial statements[70]. - The company’s board of directors includes independent non-executive directors with relevant academic and professional backgrounds[73]. - The company has conducted directors' liability insurance to provide appropriate protection against legal actions during the year[84]. - The board believes that Mr. Tan's interests in related companies do not affect his role as a director and do not harm the interests of the group and its shareholders[77]. - The board has reviewed and fulfilled its corporate governance responsibilities, including the development and monitoring of governance policies and compliance with legal and regulatory requirements[145]. - The company has engaged a third-party firm for internal audit functions, which will conduct annual reviews of risk management and internal control procedures[136]. - The company has adopted a dividend policy that allows for the declaration and distribution of dividends, contingent upon sufficient profits for its own development and shareholder returns[144]. Environmental, Social, and Governance (ESG) Initiatives - The group focuses on corporate social responsibility, integrating environmental, social, and governance (ESG) issues into its business operations to align stakeholder interests and promote long-term development[148]. - The board is responsible for ESG strategy and risk management, ensuring effective internal controls are in place to manage ESG-related risks[150]. - The group has identified 16 key ESG issues that impact its operations, focusing on stakeholder communication and long-term development strategies[157]. - Environmental policies include compliance with laws, monitoring emissions, and efficient resource utilization to minimize environmental impact[158]. - The group aims to reduce its environmental footprint through various initiatives and continuous reassessment of its processes[158]. - The report does not disclose all environmental key performance indicators, focusing instead on overall efforts to minimize environmental impact[158]. - The company's greenhouse gas emissions saw a dramatic increase, with carbon dioxide equivalent emissions rising to 236.69 tons from 8.75 tons year-over-year[162]. - The total waste generated by the company increased, with non-hazardous waste rising to 3.51 tons from 0.01 tons, and hazardous waste increasing to 0.13 tons from 0.02 tons[165]. - The company has implemented strict environmental, social, and ethical standards for its suppliers to ensure responsible sourcing and sustainability[175]. - The group emphasizes adherence to environmental, social, and governance principles, including controlling greenhouse gas emissions and reducing waste[177]. Employee and Workforce Management - The company employed a total of 146 employees as of March 31, 2021, an increase of 74.4% from 84 employees in 2020[171]. - The gender breakdown of employees includes 76 males and 70 females, with a significant increase in male employees from 45 in 2020[171]. - The company has 140 permanent employees and 6 contract/other employees, reflecting a shift towards more permanent positions[171]. - The company conducted 100 hours of external training for employees, with 80% participation from male employees[173]. - The company recognizes the importance of training for employee development and supports various training programs[173]. - The company has established health and safety standards as a priority, with annual fire drills and inspections to maintain a safe working environment[172]. - The company has a commitment to preventing child labor and forced labor within its operations and supply chain[174]. Audit and Financial Reporting - The independent auditor confirmed that the consolidated financial statements fairly reflect the group's financial position as of March 31, 2021[182]. - The financial statements were prepared in accordance with Hong Kong Financial Reporting Standards and the Hong Kong Companies Ordinance[182]. - Key audit matters were identified based on professional judgment, highlighting the importance of these issues in the overall audit[184]. - The audit fees for the current year are approximately HKD 2,000,000 for audit services and HKD 1,000,000 for non-audit services, which include interim financial reviews and professional services related to land acquisitions and taxes[138].

Financial Performance - Revenue for the six months ended September 30, 2020, was HKD 78 million, a decrease of 33.9% compared to HKD 118 million for the same period in 2019[9] - Gross profit for the same period was HKD 20 million, down from HKD 30 million, reflecting a gross margin decline[9] - The company reported a loss before tax of HKD 32 million, compared to a loss of HKD 10 million in the prior year[9] - Net loss for the period was HKD 34 million, significantly higher than the HKD 13 million loss reported in the previous year[9] - Basic and diluted loss per share was HKD 0.42, compared to HKD 0.16 for the same period in 2019[10] - Total comprehensive loss for the period amounted to HKD 32 million, compared to HKD 15 million in the prior year[14] - The company incurred selling and distribution costs of HKD 13 million, which increased from HKD 2 million in the previous period[9] - Administrative expenses were HKD 43 million, slightly up from HKD 42 million in the prior year[9] - Revenue from product sales was HKD 70 million, down 28.6% from HKD 98 million year-on-year[33] - Revenue from licensing decreased by 50% to HKD 8 million compared to HKD 16 million in the previous year[33] - The company reported a pre-tax loss of HKD 23 million for the six months ended September 30, 2020, compared to a loss of HKD 9 million in the same period of 2019[38] - Basic loss per share was HKD 4.18, compared to HKD 1.64 in the previous year[38] - The increase in losses was primarily attributed to the adverse economic environment caused by the COVID-19 pandemic and increased selling expenses in property development in China[77] Assets and Liabilities - As of September 30, 2020, the company's total current assets amounted to HKD 1,875 million, an increase from HKD 785 million as of March 31, 2020[15] - The company's cash and bank balances increased significantly to HKD 873 million from HKD 447 million, reflecting a strong liquidity position[15] - The net current assets stood at HKD 637 million, slightly down from HKD 642 million as of March 31, 2020[16] - The company reported a total non-current liabilities of HKD 256 million, up from HKD 230 million as of March 31, 2020[16] - The total equity attributable to shareholders decreased to HKD 436 million from HKD 457 million[16] - The total assets as of September 30, 2020, were HKD 2,001 million, a slight decrease from HKD 2,026 million as of March 31, 2020[42] - The total amount of receivables as of September 30, 2020, was HKD 45 million, with a net amount of HKD 42 million after expected credit loss provisions[47] - The aging analysis of payables showed HKD 88 million due within 0-3 months as of September 30, 2020, compared to HKD 81 million as of March 31, 2020[55] - The expected credit loss provision for receivables decreased from HKD 5 million as of March 31, 2020, to HKD 3 million as of September 30, 2020[48] - The company has short-term deposits of HKD 23 million with original maturities of less than three months as of September 30, 2020[54] - The company’s debt-to-asset ratio was 0.56, an increase from 0.47 as of March 31, 2020[91] Cash Flow and Financing - The net cash used in operating activities was HKD 595 million, compared to HKD 13 million in the previous year, indicating increased cash outflows[18] - The company recorded a net cash inflow from financing activities of HKD 1,004 million, a significant increase from a cash outflow of HKD 1 million in the previous year[19] - The cash and cash equivalents at the end of the period were HKD 637 million, up from HKD 412 million a year earlier[19] - The company has prepaid approximately HKD 297.1 million for land use rights, which is expected to be settled by December 2020[51] - The company secured a loan of approximately HKD 1.58 million under the Payroll Protection Program, with an interest rate of 1%[59] - The company has a non-secured bank loan with a contract interest rate of 1%, due in 2022, amounting to HKD 2 million as of September 30, 2020[59] - The company has entered into loan agreements with Guangzhou Agile and its holding company, totaling approximately HKD 732.6 million as of September 30, 2020, compared to HKD 266.9 million as of March 31, 2020[62] - The company provided guarantees to banks amounting to HKD 71 million for mortgage loans related to property buyers, an increase from HKD 13 million as of March 31, 2020[67] Business Operations and Strategy - The company is focusing on strategic initiatives to improve operational efficiency and explore market expansion opportunities[9] - The company operates as an investment holding company with subsidiaries engaged in brand and trademark licensing, distribution of household goods and audio-visual products in the US, and home appliance trading in China[21] - The group’s operating segments include property development in China, distribution of household goods and audio-visual products, global licensing business, home appliance trading in China, and IT services in China[28] - For the six months ended September 30, 2020, the group reported total segment revenue of 118 million HKD, with 75 million HKD from home appliance sales in China[30] - The group’s segment performance showed a loss of 15 million HKD from property development and a profit of 8 million HKD from the Emerson segment[30] - The company anticipates continued challenges in its licensing business and appliance operations in China due to the ongoing pandemic[77] - The company has not recognized any provisions for legal cases as management believes there is no need based on the chances of winning[68] - The company plans to continue bidding for land auctions in various Chinese cities to increase land reserves for future development, with recent acquisitions adding approximately 213,618.83 square meters at a total cost of HKD 4,184,170,000[84] Shareholder Information - The company’s ultimate controlling shareholder is Mr. Tam Ping Chiu[21] - The major shareholder, Wealth Warrior, holds 3,616,712,779 shares, representing 65.85% of the total issued shares[100] - Sino Bright Enterprises Co. Ltd. holds 1,023,463,423 shares, accounting for 18.63% of the total issued shares[100] - LEHD Pte. Ltd. is a trustee holding 1,428,769,939 shares, which represents 26.01% of the total issued shares[100] - The issued and paid-up share capital as of September 30, 2020, was HKD 55 million, unchanged from March 31, 2020[65] Compliance and Governance - The company confirmed compliance with the corporate governance code, except for the separation of the roles of Chairman and CEO, which are held by the same individual[105] - The company adopted the standard code for securities transactions by directors and confirmed compliance during the period[106] - The audit committee reviewed and confirmed the unaudited interim financial results and discussed risk management and internal controls[108]

Financial Performance - For the fiscal year ending March 31, 2020, Nimble Holdings reported a revenue of HKD 240 million, representing an increase of approximately 95.1% compared to the previous year[8]. - The company recorded a loss of HKD 87 million for the year, compared to a profit of HKD 91 million in the previous year[8]. - The company reported a loss attributable to shareholders of HKD 87,000,000, compared to a profit of HKD 91,000,000 in the previous year[11]. - The company reported a net loss of HKD 108 million for the year, compared to a profit of HKD 73 million in 2019, reflecting a significant decline[146]. - Total comprehensive loss for the year was HKD 114 million, compared to a comprehensive income of HKD 73 million in the prior year[148]. Revenue Sources - The company's income from franchise and merchandise sales accounted for approximately 25.0% and 71.3% of total revenue, respectively, with franchise income increasing by 5.3%[8]. - The subsidiary Emerson generated revenue of HKD 48,000,000, down 28% from HKD 67,000,000 in the previous year, primarily due to the termination of a major microwave model and reduced sales of radio alarms[11]. - The company's licensing business generated revenue of HKD 58,000,000, an increase from HKD 50,000,000 in the previous year, with an operating profit of HKD 39,000,000 compared to HKD 32,000,000[12]. - The company’s home appliance trade in China generated revenue of HKD 123,000,000, a significant increase from HKD 1,000,000 in the previous year[13]. Assets and Liabilities - As of March 31, 2020, the group's current assets net value was HKD 642 million, with a current ratio of approximately 5.49[17]. - The group's cash and bank balance as of March 31, 2020, was HKD 447 million, an increase from HKD 424 million on March 31, 2019[17]. - The total liabilities of the company's subsidiaries and joint ventures amounted to HKD 127 million and HKD 27 million, respectively[8]. - Total liabilities increased from HKD 29 million in 2019 to HKD 143 million in 2020, marking a significant rise of 393.1%[149]. - The equity attributable to shareholders decreased from HKD 550 million in 2019 to HKD 457 million in 2020, a decline of 16.9%[151]. Strategic Initiatives - The company aims to strengthen its domestic home appliance, wire, and cable trading business while advancing its property development efforts in China to maximize shareholder value[9]. - The company plans to adjust its operational strategies in response to the ongoing global economic uncertainties and the impact of COVID-19[9]. - The group plans to focus on land acquisition to enhance the quality and quantity of land reserves for property development in China[17]. Corporate Governance - The board consists of five members, including two executive directors and three independent non-executive directors, ensuring a balanced governance structure[74]. - The company has established various board committees, including the remuneration committee, nomination committee, and audit committee, to assist the board in fulfilling its responsibilities[72]. - The board is committed to regularly reviewing the nomination policy to ensure it meets the company's needs and reflects current regulatory requirements[94]. - The company has adopted the corporate governance code as per the listing rules and confirms compliance with all principles and provisions, except for the separation of the roles of Chairman and CEO[71]. Environmental, Social, and Governance (ESG) Initiatives - The company emphasizes the integration of environmental, social, and governance (ESG) issues into its business operations to align stakeholder interests and promote long-term development[104]. - The group has identified 16 significant environmental, social, and governance (ESG) issues impacting its operations[113]. - The board is committed to implementing environmental policies to minimize the impact of its operations on the environment, including monitoring emissions and resource usage[116]. - The company has implemented waste management measures to reduce waste generation and its environmental impact[121]. Employee and Workforce Information - The number of employees increased from 53 to 82 between March 31, 2019, and March 31, 2020[24]. - The gender breakdown of employees includes 43 males and 39 females, with a significant increase in male employees from 26 in 2019 to 43 in 2020[127]. - The company conducted 100 hours of external training for employees, with 80% of participants being male, highlighting a commitment to employee development[128]. - The company has a commitment to equal employment opportunities, ensuring no discrimination based on personal characteristics[127]. Financial Reporting and Compliance - The Group adopted the new and revised Hong Kong Financial Reporting Standards, which had no significant impact on the financial performance and position for the year ended March 31, 2020[163]. - The company recognizes revenue upon the transfer of control of goods or services to customers, in accordance with HKFRS 15[179]. - The company has established agreements with independent licensors, allowing it to receive minimum annual payments, which are recognized at the start of each licensing period[183]. - The company assesses impairment of contract assets based on HKFRS 9[181].

Revenue and Profitability - Revenue for the six months ended September 30, 2019, was HKD 118 million, a significant increase from HKD 50 million in the same period last year, representing a 136% growth[7] - Gross profit for the same period was HKD 30 million, up from HKD 21 million, indicating a 43% increase year-over-year[7] - The company reported a loss before tax of HKD 10 million, compared to a profit of HKD 13 million in the prior year[7] - The net loss for the period was HKD 13 million, a decline from a profit of HKD 30 million in the previous year[8] - Basic and diluted loss per share was HKD 0.16, compared to earnings of HKD 0.58 per share in the same period last year[8] - Other income decreased to HKD 4 million from HKD 30 million, reflecting a decline of 87% year-over-year[7] - Administrative expenses increased to HKD 42 million from HKD 35 million, marking a 20% rise[7] - Total comprehensive loss for the period was HKD 15 million, compared to a comprehensive income of HKD 29 million in the prior year[9] - The company experienced a foreign exchange loss of HKD 2 million, compared to a loss of HKD 1 million in the previous year[9] - The company reported a pre-tax loss of HKD 10 million for the period, after accounting for unallocated corporate expenses[30] - The company reported a net loss attributable to shareholders of HKD 9 million, compared to a net profit of HKD 32 million in the corresponding period[65] Assets and Liabilities - As of September 30, 2019, the company's non-current assets totaled HKD 182 million, an increase from HKD 179 million as of March 31, 2019[10] - Current assets amounted to HKD 516 million, with cash and bank balances at HKD 412 million, down from HKD 424 million[10] - The company's net current assets were HKD 419 million, a decrease from HKD 436 million as of March 31, 2019[11] - Total equity stood at HKD 583 million, down from HKD 598 million as of March 31, 2019[11] - The company’s total liabilities increased to HKD 97 million from HKD 29 million, primarily due to an increase in accounts payable[10] - The company’s total assets decreased from HKD 1,034 million as of March 31, 2019, to HKD 998 million as of September 30, 2019[10] - The company’s tax liabilities decreased slightly from HKD 17 million to HKD 16 million during the same period[11] - The company’s total liabilities as of September 30, 2019, included accrued expenses of HKD 7 million and contract liabilities of HKD 10 million[19] Cash Flow and Financial Position - The company reported a net cash inflow from operating activities of HKD 226 million for the six months ended September 30, 2019, compared to HKD 12 million in the same period last year[13] - The company’s cash and cash equivalents increased by HKD 212 million during the period, compared to a decrease of HKD 2 million in the previous year[13] - The company’s cash flow statement showed cash and cash equivalents of HKD 412 million as of September 30, 2019, compared to HKD 424 million as of March 31, 2019[55] - The group’s current ratio was approximately 5.32 as of September 30, 2019, down from 16.03 on March 31, 2019[73] - The group has no interest-bearing debt, resulting in a debt-to-asset ratio of zero as of September 30, 2019[78] Lease Accounting and Standards - The company has adopted the new Hong Kong Financial Reporting Standard No. 16, which replaces the previous standard on leases, effective from April 1, 2019[18] - The company has chosen to apply the modified retrospective approach for the initial application of the new lease standard, adjusting the opening equity balance as of April 1, 2019[18] - The company will not recognize right-of-use assets and lease liabilities for short-term leases (12 months or less) and will instead recognize lease payments as expenses on a straight-line basis[20] - The right-of-use assets are measured at cost, which includes the recognized lease liabilities, initial direct costs, and any lease payments made before the commencement date, minus any lease incentives received[21] - Lease liabilities are recognized at the present value of lease payments to be made over the lease term, including fixed payments and variable lease payments based on indices or rates[22] - The new lease standard does not have a significant impact on the company's financial performance or position for the current or prior periods[18] Business Segments and Revenue Sources - The company reported a total revenue of HKD 118 million for the six months ended September 30, 2019, with segment revenues from household appliances, licensing, and other categories contributing to this total[30] - The company’s operating segments include distribution and licensing of household and audio-visual products, with specific brands like Akai, Sansui, and Nakamichi under its licensing segment[27] - The company’s revenue from licensing was HKD 16 million, while sales of household appliances in China amounted to HKD 75 million[30] - The total revenue from the Chinese market was HKD 79 million, while revenue from Asia (excluding China) was HKD 15 million, and North America contributed HKD 23 million[32] - The newly established home appliance trading business in China generated revenue of approximately HKD 75 million and operating profit of HKD 5 million during the period[68] - The new IT services business in China produced revenue of approximately HKD 4 million and operating profit of HKD 1 million[69] Employee and Governance - The company incurred employee costs of HKD 25 million, which included HKD 3 million for directors and CEO remuneration, down from HKD 6 million in the previous year[34] - The company reported an increase in employee count to 73 as of September 30, 2019, up from 53 on March 31, 2019[82] - The company confirmed compliance with the corporate governance code, except for the separation of the roles of Chairman and CEO[91] - All directors confirmed adherence to the standards set forth in the company's securities trading code during the period[92] Shareholder Information - Mr. Tan holds 3,616,712,779 shares, representing 73.85% of the total issued shares of 5,492,232,889 as of September 30, 2019[84] - Wealth Warrior, fully owned by Mr. Tan, is considered to hold 3,616,712,779 shares, accounting for 65.85% of the company[86] - Sino Bright Enterprises Co. Ltd. holds 1,023,463,423 shares, representing 18.63% of the total[86] - Accolade (PTC) Inc. is a trustee holding 1,428,573,488 shares, which is 26.01% of the total[86] Other Notable Points - The company did not recommend an interim dividend for the period, consistent with the previous year[38] - The company has not made significant changes to its risk management policies since the last audited financial statements[28] - The company has not applied any new standards or interpretations that are not yet effective for the current accounting period[18] - The company did not purchase, redeem, or sell any of its listed securities during the period[90] - The audit committee has reviewed and confirmed the unaudited condensed consolidated results for the period, discussing risk management and internal controls[94] - The external auditor has conducted a review of the unaudited condensed interim financial statements in accordance with the relevant auditing standards[94]

Financial Performance - The group's revenue for the year was approximately HKD 123 million, a decrease of about 28.1% compared to HKD 171 million in the previous year[8]. - The after-tax profit for the year was approximately HKD 73 million, down 49.3% from HKD 144 million in the previous year, primarily due to an increase in impairment losses on brands and trademarks from HKD 42 million to HKD 94 million[8]. - Revenue from the distribution of household products and audio-visual products decreased by approximately 41.7%, from HKD 115 million to HKD 67 million, mainly due to a major customer ceasing to purchase a specific model of microwave[12]. - The revenue from the licensing business for the current year was HKD 50,000,000, compared to HKD 51,000,000 in the previous year, with an operating profit of HKD 32,000,000, down from HKD 37,000,000[14]. - The brand and trademark value impairment for the current year was HKD 71,000,000, significantly higher than the HKD 2,000,000 impairment reversal in the previous year[15]. - The company reported a significant reduction in impairment losses on brands and trademarks, with a net loss of HKD 94 million compared to HKD 127 million in the previous year[132]. - Total comprehensive income for the year was HKD 73 million, down from HKD 151 million in the previous year[133]. - Basic earnings per share decreased to HKD 1.66 from HKD 3.19, representing a drop of 47.9%[132]. Business Strategy and Expansion - The group plans to expand its business in China, including the sale of household appliances and the development of information technology services[7]. - The group aims to increase its revenue base through the introduction of new businesses in China[9]. - Management plans to develop three new businesses in China: home appliances, information technology, and property development, with the home appliance business expected to provide stable income[17]. - The newly established home appliance trade business in China generated approximately HKD 1,000,000 in revenue by the end of the current year[16]. Shareholding and Equity - The group's shareholding in Emerson increased from 66.9% to 72.4% due to a share buyback program[13]. - The company repurchased 1,756,436 shares of Emerson, amounting to approximately HKD 20 million, which increased the company's equity interest in Emerson from about 66.9% to 72.4%[138]. - Total equity increased to HKD 598 million from HKD 516 million, an increase of 15.9%[136]. Financial Position and Assets - Non-current assets decreased to HKD 179 million from HKD 265 million, a reduction of 32.4%[135]. - Current assets totaled HKD 465 million, slightly down from HKD 497 million, a decrease of 6.4%[135]. - Current liabilities decreased significantly to HKD 29 million from HKD 224 million, a reduction of 87.0%[135]. - The company experienced a decrease in cash and cash equivalents by HKD 115 million for the year, ending with HKD 201 million compared to HKD 316 million at the beginning of the year[142]. Governance and Compliance - The company has complied with all relevant laws and regulations that significantly impact its operations during the year[39]. - The company has adopted corporate governance practices in line with the principles outlined in the listing rules, ensuring compliance[76]. - The board of directors consists of five members, including two executive directors and three independent non-executive directors, ensuring a balanced governance structure[78]. - The company has established appropriate liability insurance for its directors and senior officers to protect against potential claims[84]. Risk Management and Internal Controls - The company has established and maintained effective risk management and internal control systems to achieve its strategic objectives[96]. - The audit committee reviewed the accounting principles and internal controls adopted by the group, ensuring financial reporting integrity[70]. - The company has a policy on insider trading, which is reviewed and updated by the board at the end of the financial period[98]. Environmental, Social, and Governance (ESG) Practices - The company has a policy to comply with all relevant laws and regulations regarding environmental matters[107]. - The company has actively engaged stakeholders to assess significant environmental and social issues, prioritizing product responsibility and resource usage[107]. - The company has maintained a strong commitment to health and safety standards, with no reported violations of health and safety regulations during the year[113]. Accounting Standards and Financial Reporting - The company adopted new and revised Hong Kong Financial Reporting Standards, including HKFRS 9 and HKFRS 15, effective from April 1, 2018, with no significant impact on financial performance and disclosures[148]. - The transition to HKFRS 15 did not have a significant impact on the company's overall financial position[158]. - The group recognizes revenue upon the transfer of control of goods or services to customers, in accordance with HKFRS 15, effective from April 2018[186]. - The company continues to assess the impact of new accounting standards on its financial reporting and will provide additional disclosures as necessary[164].