Financial Performance - The total revenue for the year ended July 31, 2021, was approximately HKD 712 million, a significant increase from HKD 317.6 million in 2020[7] - Revenue for the year ended July 31, 2021, was HKD 116,147,000, an increase of 15.4% from HKD 100,318,000 in 2020[161] - Gross profit for the same period was HKD 52,378,000, representing a gross margin of 45% compared to 33.5% in the previous year[161] - The company reported a net loss of HKD 29,454,000 for the year, a slight improvement from a net loss of HKD 32,204,000 in 2020[161] - The company reported a loss attributable to owners of HKD 29,497,000 for the year ended July 31, 2021, compared to a loss of HKD 34,068,000 in the previous year, indicating a decrease in losses by approximately 13.5%[171] - The company experienced a pre-tax loss of HKD 17,126,000 for the year, an improvement from a pre-tax loss of HKD 29,745,000 in the previous year, reflecting a reduction of about 42.5%[171] Property Sales and Revenue - Property sales revenue amounted to HKD 109.9 million, up from HKD 66.6 million in the previous year[7] - As of July 31, 2021, the company confirmed property sales revenue of HKD 109,875,000, accounting for 95% of total revenue[150] Financial Position - The group held cash and bank balances of HKD 222.4 million as of July 31, 2021, down from HKD 333.1 million in 2020[9] - The total debt-to-equity ratio was 20.0%, a decrease from 26.5% in the previous year, indicating improved financial stability[9] - Total assets decreased to HKD 1,636,492,000 from HKD 1,641,380,000 in the previous year, reflecting a decline of 0.3%[163] - The company’s equity attributable to owners decreased to HKD 970,498,000 from HKD 983,833,000, a decrease of 1.4%[164] Employee and Compensation - Total employee compensation for the year was approximately HKD 18.3 million (2020: HKD 39.3 million), with about 80 employees as of July 31, 2021[21] - The total number of employees as of July 31, 2021, is 80, with a gender distribution of 46% male and 54% female[78][79] - Employee turnover rate is reported at 0% for both genders, indicating strong employee retention[81][83] - The company’s employee compensation policy is determined by the board based on performance, qualifications, and market statistics[141] Risk Management and Governance - The risk management framework includes a clear governance structure and policies to identify, assess, and manage significant risks[52] - The board of directors is responsible for overseeing the risk management and internal control systems to ensure their effectiveness[52] - The company has engaged independent professional institutions to assist the board and audit committee in continuously monitoring the risk management and internal control systems, ensuring timely reporting of significant internal control deficiencies[55] - The board conducts an annual review of the effectiveness of the risk management and internal control systems, considering various factors including business changes and compliance with listing rules[55] Environmental and Social Responsibility - The group emphasizes the importance of environmental protection and has implemented measures to integrate sustainable development principles into daily operations[71] - The group encourages a paperless work environment and promotes energy-saving practices among employees[71] - The company emphasizes water conservation by regularly inspecting and repairing faulty pipes and valves, and installing sensor-operated faucets in hotel restrooms[74] - The company prioritizes local recruitment and procurement to boost local employment and economic development[100] Audit and Compliance - The independent auditor's report confirmed that the financial statements present a true and fair view of the group's financial position as of July 31, 2021[145] - The company has established internal controls to ensure the accuracy of financial reporting and compliance with relevant accounting standards[153] - The company has ensured compliance with applicable laws and regulations that significantly impact its business operations[139] Shareholding and Capital Structure - As of July 31, 2021, the total shareholding of the chairman, Mr. Siu, is 70,302,450 shares, representing 36.2% of the issued share capital[126] - Major shareholders include Fu Jian with 64,580,625 shares (33.2%), Mr. Xiao with a total of 70,302,450 shares (36.2%), and Supervalue with 25,008,555 shares (12.9%)[134] - The company has no reserves available for distribution to shareholders as of July 31, 2021[120] Customer Relations and Quality Control - The company emphasizes high-quality service and customer satisfaction, implementing personalized arrangements based on customer feedback[93] - The company maintains strict control over food safety and quality, terminating relationships with suppliers upon discovering significant hygiene issues[93] - The company complies with the "China Tourism Hotel Industry Standards" to protect guest rights and privacy[93]

Financial Performance - Revenue for the six months ended January 31, 2021, was HKD 42,638,000, a decrease of 48.7% compared to HKD 83,171,000 for the same period in 2020[8]. - Gross profit for the period was HKD 18,678,000, down 36.9% from HKD 29,500,000 year-on-year[8]. - The company reported a net loss of HKD 2,022,000, compared to a loss of HKD 20,689,000 in the previous year, indicating an improvement in performance[8]. - Total comprehensive income for the period was HKD 25,359,000, compared to a loss of HKD 30,524,000 in the same period last year[8]. - Basic loss per share improved to HKD (1.66) from HKD (9.21) year-on-year[8]. - The company reported a net loss of HKD 17,906,000 for the six months ended January 31, 2021, compared to a loss of HKD 12,287,000 for the same period in the previous year[10]. - Total comprehensive expenses for the period amounted to HKD 25,217,000, which includes other comprehensive expenses of HKD 7,311,000[10]. - The group reported a loss before tax of HKD 2,028,000 for the six months ended January 31, 2021, compared to a loss of HKD 12,287,000 for the same period in 2020, showing an improvement in performance[24][25]. - The hotel business incurred a segment loss of HKD 7,487,000 for the six months ended January 31, 2021, compared to a loss of HKD 17,793,000 in the previous year, indicating a reduction in losses by approximately 58%[24][25]. - The financial investment segment reported a profit of HKD 14,259,000 for the six months ended January 31, 2021, compared to a profit of HKD 2,965,000 in the same period of 2020, representing a significant increase of approximately 380%[24][25]. - The basic loss per share attributable to the owners of the company was HKD 0.017 for the six months ended January 31, 2021, compared to HKD 0.092 for the same period in 2020, indicating an improvement in loss per share[38]. - The net loss attributable to shareholders for the six months ended January 31, 2021, was HKD 3,200,000, a significant improvement from a loss of HKD 17,900,000 in the previous year[60]. Assets and Liabilities - Non-current assets increased to HKD 480,400,000 from HKD 475,780,000, reflecting a growth of 0.13%[9]. - Current assets decreased to HKD 641,972,000 from HKD 720,600,000, a decline of 10.9%[9]. - The company's total liabilities decreased from HKD 228,545,000 to HKD 129,967,000, a reduction of 43.1%[9]. - The net asset value increased to HKD 960,817,000 from HKD 935,458,000, showing a growth of 2.7%[9]. - The company’s total equity attributable to owners decreased to HKD 1,001,138,000 as of January 31, 2021, from HKD 1,023,538,000 as of August 1, 2019[10]. - The total debt-to-equity ratio as of January 31, 2021, was 16.1%, a decrease from 26.5% as of July 31, 2020[61]. - The total trade and other payables decreased from HKD 499,000 as of July 31, 2020, to HKD 227,000 as of January 31, 2021, a reduction of about 54%[45]. Cash Flow - Cash and cash equivalents decreased by HKD 102,225,000 during the period, with a beginning balance of HKD 332,456,000[12]. - The company experienced a decrease in operating cash flow, with a net cash inflow of HKD 6,571,000 compared to HKD 10,984,000 in the previous year[12]. - The company’s cash balance at the end of the period was HKD 234,610,000, an increase from HKD 209,939,000 year-over-year[13]. - The group held cash and bank balances of HKD 235,300,000 as of January 31, 2021, down from HKD 333,100,000 as of July 31, 2020[61]. - The company reported a decrease in cash generated from operating activities, primarily due to an increase in trade and other receivables by HKD 17,447,000[12]. Business Operations - The company suspended hotel operations in mainland China in January 2020 due to COVID-19, with partial recovery in August 2020, but occupancy rates and food and beverage sales remained low[15]. - Hotel business revenue for the six months ended January 31, 2021, was HKD 2,844,000, down from HKD 33,802,000 in the previous year, indicating a decrease of about 91.6%[24][25]. - The property segment generated revenue of HKD 39,794,000 for the six months ended January 31, 2021, compared to HKD 49,369,000 in the same period of 2020, reflecting a decline of approximately 19.5%[24][25]. - Property sales revenue for the six months ended January 31, 2021, was HKD 39,800,000, compared to HKD 49,400,000 in the same period last year, reflecting a decline due to external economic conditions[64]. - The occupancy rate of the group's hotel in Foshan dropped to approximately 9.7% for the six months ended January 31, 2021, with revenue of HKD 2,800,000, down from HKD 33,800,000 in the previous year[65]. Future Outlook and Strategy - The company plans to focus on market expansion and new product development to enhance future performance[5]. - The group anticipates that its financial condition will not be significantly impacted in the short term despite ongoing economic challenges due to the pandemic[70]. - The group continues to monitor foreign exchange risks associated with its subsidiaries' assets and liabilities, which are primarily denominated in RMB or HKD[62]. Shareholder Information - As of January 31, 2021, the total shareholding of Mr. Xiao in the company is 70,302,450 shares, representing 36.2% of the issued share capital[77]. - Mr. Zhu holds a total of 26,786,055 shares, which accounts for 13.8% of the issued share capital[77]. - The major shareholder, 富健, owns 64,580,625 shares, representing 33.2% of the issued share capital[82]. - Mr. Xiao is deemed to have an interest in 64,580,625 shares held through 富健, which he owns 70%[82]. - Mr. Zhu is deemed to have an interest in 25,008,555 shares held through Supervalue, which he wholly owns[83]. Corporate Governance - The audit committee reviewed the unaudited interim accounts for the six months ending January 31, 2021[84]. - The company has complied with all applicable provisions of the corporate governance code during the reporting period, with some deviations noted[85]. - The company has adopted the standard code for securities transactions by directors, confirming compliance by all directors during the reporting period[86]. - No securities transactions were conducted by the company or its subsidiaries during the six months ending January 31, 2021[87]. - The company has not engaged in any arrangements for directors to benefit from purchasing shares or bonds during the reporting period[80]. Other Financial Information - The group recognized other comprehensive income of HKD 20,536,000 during the period, contributing positively to the overall financial position[10]. - The group purchased property, plant, and equipment for a cash consideration of HKD 12,000,000 during the period, a significant decrease from HKD 490,000,000 in the previous year[40]. - The group reported a total depreciation expense of HKD 5,936,000 for the six months ended January 31, 2021, compared to HKD 5,458,000 in the same period of 2020, reflecting a slight increase in depreciation costs[27][28]. - As of January 31, 2021, the total receivables from consumer finance business customers amounted to HKD 31,086,000, an increase from HKD 13,596,000 as of July 31, 2020, representing a growth of approximately 128%[42]. - The fair value of listed equity securities in Hong Kong increased to HKD 32,902,000 as of January 31, 2021, up from HKD 26,373,000 as of July 31, 2020, reflecting a growth of about 25%[43]. - The total fair value of listed debt securities in Hong Kong decreased to HKD 47,346,000 as of January 31, 2021, down from HKD 57,298,000 as of July 31, 2020, indicating a decline of approximately 17%[43]. - The compensation for key management personnel decreased from HKD 3,129,000 for the six months ended January 31, 2020, to HKD 3,030,000 for the same period in 2021, a decline of approximately 3%[55]. - The group provided guarantees amounting to HKD 9,780,000 for mortgage loans as of January 31, 2021, significantly down from HKD 50,298,000 as of July 31, 2020, representing a decrease of about 81%[57]. - No dividends were recommended for the six months ended January 31, 2021[59].

Financial Performance - The total revenue for the year ended July 31, 2020, was approximately HKD 317.6 million, a decrease of 36.4% from HKD 499.2 million in 2019[9]. - The annual loss attributable to shareholders was HKD 29.5 million, compared to a profit of HKD 150 million in 2019, primarily due to the impact of COVID-19 on property sales and hotel revenue[9]. - Property sales revenue for the year was HKD 66.6 million, down 81.5% from HKD 361.1 million in the previous year[16]. - The hotel business generated revenue of HKD 33.7 million, a decline of 52.7% from HKD 71.1 million in 2019[9]. - The company reported a loss before tax of HKD 29,745,000, compared to a profit of HKD 216,553,000 in 2019[163]. - The net loss for the year was HKD 32,204,000, a significant decline from a profit of HKD 161,404,000 in the prior year[163]. - Basic loss per share was HKD 15.2, compared to earnings of HKD 77.2 per share in 2019[163]. - Total revenue for the year ended July 31, 2020, was HKD 100,318,000, a decrease of 76.8% compared to HKD 432,212,000 in 2019[163]. - Gross profit for the same period was HKD 33,696,000, down 78.6% from HKD 157,011,000 in the previous year[163]. Cash and Liquidity - As of July 31, 2020, the group held cash and bank balances of HKD 333.1 million, a decrease from HKD 357 million in 2019[11]. - Cash generated from operating activities decreased from HKD 43,224,000 in 2019 to HKD 18,968,000 in 2020, a decline of about 56.1%[172]. - The company’s cash and cash equivalents decreased from HKD 356,316,000 in 2019 to HKD 332,456,000 in 2020, a decline of approximately 6.7%[164]. - The total cash and cash equivalents balance at the end of 2020 was HKD 332,456,000, down from HKD 356,316,000 at the end of 2019, indicating a decline in available cash resources[174]. - The net cash outflow from financing activities was HKD 41,965,000 in 2020, compared to a net inflow of HKD 26,158,000 in 2019, indicating a significant shift in financing strategy[174]. Debt and Equity - The total debt-to-equity ratio as of July 31, 2020, was 26.5%, down from 33.7% in 2019[11]. - The total equity attributable to owners decreased from HKD 1,023,538,000 in 2019 to HKD 983,833,000 in 2020, a decline of approximately 3.9%[166]. - The company has no distributable reserves available for shareholders as of July 31, 2020[118]. Employee and Compensation - The total employee compensation amounted to approximately HKD 39,300,000, down from HKD 40,400,000 in 2019, with around 80 employees, 40 of whom are based in mainland China[22]. - Employee turnover rate for males is 37% and for females is 32%[81]. - The average training hours per employee increased to 68 hours in 2020 from 40 hours in 2019[88]. - The company recorded 5 work-related injuries in 2020, down from 13 in 2019, with no fatalities[86]. - The employee compensation policy is determined by the board based on performance, qualifications, and market statistics[139]. Risk Management and Governance - The risk management framework includes a clear governance structure and policies to identify, assess, and manage significant risks[48]. - The board conducted an annual review of the effectiveness of the risk management and internal control systems, ensuring they are adequate for business changes and external environment shifts[51]. - The company has established a nomination committee to review the board's structure and diversity, recognizing its importance for strategic goals[43]. - The attendance rate for board meetings was 100% for all executive directors, with independent non-executive directors also showing full attendance[45]. - The company has adopted a policy to enhance board diversity, considering various factors such as gender, age, and professional experience[43]. Environmental and Social Responsibility - The group reported a 38% decrease in electricity usage compared to the previous year, with a 5% decrease in the prior year[67]. - 95% of the lighting systems have been upgraded to LED and energy-efficient bulbs, replacing less efficient lighting tools[68]. - The company has implemented water-saving measures, including the installation of sensor faucets in hotel restrooms to reduce water consumption[70]. - The group has adopted a policy to ensure that all public disclosures are accurate and not misleading, adhering to securities regulations[52]. - The group prioritizes local recruitment and procurement to boost local employment and economic development[98]. Audit and Compliance - The audit committee held two meetings during the year and reviewed the audited performance of the group for the year ending July 31, 2020[40]. - The company incurred approximately HKD 2,160,000 for audit services and HKD 368,000 for interim review and other non-audit services for the year ending July 31, 2020[46]. - There were no significant violations of applicable laws and regulations during the year[137]. Shareholder Information - The total number of ordinary shares held by the chairman, Mr. Xiao, is 70,302,450, representing 36.2% of the issued share capital[124]. - The total number of ordinary shares held by CEO, Mr. Zhu, is 26,786,055, representing 13.8% of the issued share capital[125]. - The company maintained sufficient public float throughout the year ended July 31, 2020[140].

Financial Performance - Revenue for the six months ended January 31, 2020, was HKD 83,171,000, a decrease of 72.3% compared to HKD 301,000,000 for the same period in 2019[9]. - Gross profit for the period was HKD 29,500,000, down 69.7% from HKD 97,406,000 in the previous year[9]. - The company reported a loss before tax of HKD 12,287,000, compared to a profit of HKD 125,612,000 in the same period last year[9]. - The net loss for the period was HKD 20,689,000, a significant decline from a profit of HKD 88,917,000 in the prior year[9]. - The company reported a total loss before tax of HKD 12,287,000 for the six months ended January 31, 2020, compared to a profit of HKD 125,612,000 for the same period in 2019[56][57]. - The company recorded a loss of HKD 17,906,000 for the six months ended January 31, 2020, compared to a profit of HKD 81,163,000 in the same period of 2019[69]. - The decline in performance was primarily due to a slowdown in property sales, decreased hotel revenue, and an additional provision of HKD 9,500,000 related to the Foshan Caishen Hotel[89]. Assets and Liabilities - Total assets decreased to HKD 1,614,404,000 as of January 31, 2020, down from HKD 1,630,058,000 as of July 31, 2019[10]. - Current liabilities were HKD 146,277,000, a reduction from HKD 310,783,000 in the previous period[10]. - The company's net asset value decreased to HKD 950,450,000 from HKD 980,974,000[10]. - The company’s total equity attributable to owners decreased to HKD 998,321,000 as of January 31, 2020, down from HKD 1,023,538,000 at the end of the previous reporting period[11]. - The company’s total liabilities related to leases were adjusted according to HKFRS 16, with no significant impact on accumulated losses[49]. Cash Flow and Investments - The company’s cash and cash equivalents decreased to HKD 209,939,000 as of January 31, 2020, from HKD 293,393,000 a year earlier, reflecting a reduction of approximately 28.5%[13]. - Operating cash flow showed a net outflow of HKD 10,984,000 for the six months ended January 31, 2020, compared to an inflow of HKD 125,612,000 in the prior year[13]. - The company experienced a decrease in cash generated from the sale of properties, machinery, and equipment, which amounted to HKD 25,000 compared to HKD 180,000 in the previous year[13]. - The company recognized a tax expense of HKD 8,402,000 for the six months ended January 31, 2020, significantly lower than HKD 36,695,000 in the same period of 2019[64]. - The company’s trade receivables as of January 31, 2020, totaled HKD 2,236,000, an increase from HKD 1,739,000 as of July 31, 2019[74]. Revenue Breakdown - For the six months ended January 31, 2020, total revenue was HKD 153,821,000, a decrease from HKD 325,622,000 for the same period in 2019, representing a decline of approximately 52.8%[54][57]. - Hotel business revenue for the six months ended January 31, 2020, was HKD 33,802,000, down from HKD 41,809,000 in the previous year, reflecting a decrease of about 19.8%[56][57]. - The property segment reported revenue of HKD 49,369,000 for the six months ended January 31, 2020, down from HKD 259,191,000 in the same period of 2019, indicating a decline of approximately 81.0%[54][57]. - Property sales revenue was HKD 49,400,000, down from HKD 259,200,000 year-on-year, while hotel property revenue decreased to HKD 33,800,000 from HKD 41,800,000[89]. Operational Changes - The company suspended operations at the Foshan Caishen Hotel due to government measures to combat the COVID-19 pandemic, impacting revenue generation[16]. - The group has reduced its hotel staff by approximately 90%, maintaining only a small number of employees for property maintenance during the operational suspension[95]. - The company plans to focus on cost management and operational efficiency to navigate the challenging market conditions[6]. Shareholder Information - The company has a total of 70,302,450 shares held by Mr. Xiao, representing 36.2% of the issued share capital[106]. - Mr. Zhu holds 26,786,055 shares, accounting for 13.8% of the issued share capital[106]. - The major shareholder, 富健, owns 64,580,625 shares, which is 33.2% of the issued share capital[111]. Corporate Governance - The company has complied with all applicable provisions of the corporate governance code during the six months ended January 31, 2020, except for the specific term of appointment for non-executive directors[115]. - The audit committee reviewed the unaudited interim accounts for the six months ended January 31, 2020[114]. - No arrangements were made for directors to benefit from purchasing shares or bonds during the reporting period[109]. - The company confirmed that all directors complied with the standards of the securities trading code during the reporting period[116].

Financial Performance - The total revenue for the year ended July 31, 2019, was approximately HKD 499.2 million, an increase of 54.3% from HKD 323.5 million in 2018[9] - The annual profit attributable to shareholders was HKD 150 million, significantly higher than HKD 37.2 million in 2018, representing an increase of 302.7%[9] - The group recognized hotel business revenue of HKD 71,119,000 for the year ended July 31, 2019, accounting for 16% of total revenue[152] - The group confirmed property sales revenue of HKD 361,093,000 for the year ended July 31, 2019, representing 84% of total revenue[153] - Gross profit for the same period was HKD 157,011,000, up 47.3% from HKD 106,525,000 in the previous year[167] - Profit before tax increased significantly to HKD 216,553,000, compared to HKD 62,088,000 in 2018, representing a growth of 248.5%[167] - Net profit for the year was HKD 161,404,000, a substantial increase of 228.5% from HKD 49,024,000 in 2018[167] - Basic earnings per share rose to HKD 77.2, compared to HKD 19.1 in the previous year, reflecting a growth of 304.7%[167] - Total comprehensive income for the year was HKD 142,675,000, compared to HKD 48,749,000 in 2018, marking an increase of 192.5%[167] Revenue Sources - Property sales contributed HKD 361.1 million to the total revenue, up from HKD 237.2 million in the previous year, marking a growth of 52.2%[9] - The group has ongoing sales activities for residential projects adjacent to the Foshan Caishen Hotel, with recognized property sales revenue of HKD 361.1 million for the year[15] Financial Position - The group held cash and bank balances of HKD 357 million as of July 31, 2019, compared to HKD 280.8 million in 2018, reflecting a liquidity improvement of 27.2%[11] - The total debt-to-equity ratio decreased to 33.7% from 50.3% in 2018, indicating improved financial stability[11] - The group has no outstanding bank borrowings as of July 31, 2019, maintaining a debt-free status[11] - The company's total assets decreased from HKD 1,287,242 thousand in 2018 to HKD 1,325,598 thousand in 2019, representing a decline of approximately 2.9%[168] - The total equity attributable to owners of the company increased from HKD 891,010 thousand in 2018 to HKD 1,023,538 thousand in 2019, marking an increase of approximately 14.9%[170] - The company's total liabilities decreased from HKD 448,199 thousand in 2018 to HKD 345,841 thousand in 2019, a decrease of about 22.8%[168] Cash Flow - The company's cash flow from operating activities decreased from HKD 324,665 thousand in 2018 to HKD 43,224 thousand in 2019, a decline of about 86.7%[175] - The total increase in cash and cash equivalents was HKD 76,484,000, down from HKD 137,400,000 in 2018[177] - The cash and cash equivalents balance at the end of the period was HKD 356,316,000, up from HKD 280,127,000 in the previous year[177] Employee Compensation and Training - The total employee compensation for the year amounted to approximately HKD 40.4 million, a decrease from HKD 41.9 million in 2018[26] - A total of 124 training sessions were held during the reporting period, compared to 130 in 2018[92] - The average training hours for administrative staff was 55 hours, down from 85 hours in 2018[92] - The average training hours for general employees was 40 hours, down from 70 hours in 2018[92] Corporate Governance - The company received annual independence confirmations from all independent non-executive directors, affirming their compliance with listing rules[36] - The audit committee held two meetings during the year to review the group's audited performance for the year ending July 31, 2019[44] - The board of directors consists of four executive directors and three independent non-executive directors, with one independent director possessing appropriate accounting qualifications[35] - The company emphasizes the importance of board diversity in achieving strategic goals and sustainable development[48] Risk Management - The group has established a risk management organizational structure, including a board of directors, an audit committee, and a risk management team, to oversee risk management and internal control systems[53] - The risk management team identifies and evaluates significant risks at least once a year, developing risk mitigation plans and assigning risk owners[56] - The board conducts an annual review of the effectiveness of the risk management and internal control systems, ensuring they are capable of adapting to business and external environment changes[56] Environmental and Social Responsibility - Energy consumption decreased by 5% compared to the same period last year, following a 6% decrease in 2018[72] - 95% of the lighting systems have been upgraded to LED and energy-efficient lamps, replacing less efficient lighting tools[73] - The company actively participates in food waste reduction initiatives, promoting the "Clean Plate" campaign to minimize unnecessary food waste[75] - The company has implemented water-saving measures, including the installation of sensor taps in hotel bathrooms[75] Legal and Compliance - The group is currently involved in legal proceedings regarding the restoration of land use rights in Macau, which may impact future operations[16] - The company has not encountered any significant incidents related to corruption, bribery, extortion, fraud, or money laundering during the reporting period[100] - The group is committed to ensuring that all public disclosures are clear and not misleading, adhering to the Securities and Futures Ordinance and listing rules[57] Accounting Standards - The application of HKFRS 15 did not have a significant impact on the timing and amount of revenue recognition[184] - The group reported a total reclassification impact of HKD 69,338,000 in cumulative losses due to the transition to HKFRS 9[199] - The group’s financial statements for the year ended July 31, 2019, reflect the mandatory application of new and revised Hong Kong Financial Reporting Standards[198]

Financial Performance - Revenue for the six months ended January 31, 2019, was HKD 301 million, a significant increase from HKD 45.175 million in the same period last year, representing a growth of 564%[9] - Gross profit for the period was HKD 97.406 million, compared to HKD 18.662 million, indicating a gross margin improvement[9] - Profit before tax increased to HKD 125.612 million from HKD 67.046 million, reflecting an increase of 87%[9] - Net profit for the period was HKD 88.917 million, up from HKD 67.607 million, marking a growth of 31.4%[9] - Basic earnings per share rose to HKD 41.76, compared to HKD 35.48 in the previous year, an increase of 17.5%[9] - Total revenue for the six months ended January 31, 2019, was HKD 325,622,000, with significant contributions from property sales amounting to HKD 259,191,000[57] - The company reported a total loss of HKD 137,961,000 for the six months ended January 31, 2019, compared to a profit of HKD 84,485,000 in the previous year[59][60] - For the six months ended January 31, 2019, the company reported a profit of HKD 81,163,000, compared to HKD 68,944,000 for the same period in 2018, representing an increase of approximately 17.6%[75] Assets and Liabilities - Total assets as of January 31, 2019, were HKD 1.76 billion, compared to HKD 1.53 billion as of July 31, 2018, showing a growth of 15%[11] - The company's net asset value increased to HKD 925.905 million from HKD 839.043 million, reflecting a growth of 10.3%[11] - The company reported a significant decrease in trade and other payables, which fell to HKD 44.334 million from HKD 52.800 million, a reduction of 16.5%[11] - The company has a strong liquidity position with current assets of HKD 795.209 million against current liabilities of HKD 335.501 million, resulting in a net current asset value of HKD 459.708 million[11] - The total equity attributable to owners of the company was HKD 967,177,000 as of January 31, 2019, compared to HKD 891,010,000 at the end of the previous period[12] Cash Flow and Financing - The company recorded a net cash inflow from financing activities of HKD 26,239,000, compared to a net outflow of HKD 51,384,000 in the previous year[15] - The company received a total of HKD 260,000,000 from the repayment agreement with the contractor, with HKD 80,000,000 received during the six months ended January 31, 2019[67] - The company incurred depreciation expenses of HKD 9,960,000 for the six months ended January 31, 2019, compared to HKD 9,775,000 for the same period in 2018[74] Market and Growth Strategy - The company plans to continue its market expansion and product development strategies to sustain growth in the upcoming periods[5] - The company plans to continue expanding its market presence and investing in new technologies as part of its growth strategy[18] Accounting Standards and Financial Reporting - The company applied new accounting standards, including HKFRS 15, which impacted revenue recognition and financial reporting[20] - Revenue is recognized when control of goods or services is transferred to customers, based on the fulfillment of performance obligations[22] - The group measures the progress of fulfilling performance obligations based on the output method, reflecting the value of services provided relative to the remaining promised services[27] - The impact of adopting HKFRS 15 on the group's financial position as of January 31, 2019, included a reclassification of customer deposits from trade payables to contract liabilities, amounting to HKD 53,984,000[36] - The transition to HKFRS 15 did not have a significant impact on the timing and amount of revenue recognized during the reporting period[32] Shareholder Information - The company proposed a share consolidation of every 20 existing ordinary shares into one consolidated share, which was approved by shareholders on March 12, 2019[83] - Major shareholders include 富健 with 1,291,612,500 shares (33.2%) and 蕭先生 with 1,406,049,000 shares (36.2%) as of January 31, 2019[121] - 蕭先生 holds 77,700,000 shares personally and has family interests of 36,736,500 shares, while 朱先生 holds 35,550,000 shares personally and has interests through Supervalue of 500,171,100 shares[121] Corporate Governance - The audit committee reviewed the unaudited interim accounts for the six months ending January 31, 2019[124] - The company adhered to the corporate governance code during the reporting period, with some deviations regarding the appointment of non-executive directors[125] - The company confirmed compliance with the standards for securities trading by directors during the six months ending January 31, 2019[126]