Financial Performance - The company recorded a loss of approximately HKD 186,896,000 for the six months ended September 30, 2023[10]. - Revenue for the six months ended September 30, 2023, decreased by 39.5% to approximately HKD 44,605,000 compared to HKD 73,748,000 in the same period of 2022[68]. - Gross profit fell to HKD 20,873,000, down 54.7% from HKD 46,101,000 year-on-year[68]. - The company reported an operating loss of HKD 146,147,000, compared to an operating loss of HKD 32,804,000 in the previous year, representing a significant increase in losses[68]. - Loss attributable to the company's owners for the period was HKD 186,884,000, compared to HKD 54,156,000 in the same period last year, marking a 245.5% increase in losses[68]. - Total comprehensive loss for the period amounted to HKD 243,055,000, compared to HKD 182,853,000 in the same period last year[71]. - The company recorded a foreign exchange loss of HKD 30,038,000 for the period, compared to a loss of HKD 128,681,000 in the previous year, indicating a significant improvement in foreign exchange impacts[82]. - The company reported a net cash inflow from investment activities of HKD 41,541,000, a significant turnaround from a cash outflow of HKD 2,729,000 in the same period last year[93]. - The company incurred interest expenses of HKD 13,243,000, slightly down from HKD 13,309,000 in the previous year, showing a marginal decrease in financing costs[93]. - The company reported a loss of HKD 17,444,000 from the early repayment of amounts due to a related company[147]. Assets and Liabilities - As of September 30, 2023, the company's equity was approximately HKD 1,278,661,000, down from HKD 1,521,716,000 as of March 31, 2023, indicating a decrease of about 15.9%[9]. - The total liabilities decreased to HKD 1,246,896,000 from HKD 1,814,088,000, indicating a reduction of approximately 31.3% in total liabilities[82]. - Non-current assets, including investment properties, totaled HKD 1,605,567,000 as of September 30, 2023, down from HKD 1,766,460,000 at the end of March 2023[80]. - Current liabilities increased to HKD 393,612,000, down from HKD 967,113,000, reflecting a significant reduction in financial obligations[80]. - As of September 30, 2023, total assets amounted to HKD 1,733,288, a decrease of 32.3% from HKD 2,558,371 as of March 31, 2023[120]. - The total liabilities as of September 30, 2023, were HKD 454,627, down 56.2% from HKD 1,036,655 as of March 31, 2023[120]. - The company’s accumulated losses increased to HKD 3,412,954,000 as of September 30, 2023, compared to HKD 3,029,526,000 in the previous year, indicating a rise in cumulative losses[82]. Cash Flow and Liquidity - The company’s cash and bank deposits amounted to approximately HKD 72,288,000 as of September 30, 2023, an increase from HKD 60,746,000 as of March 31, 2023, representing a growth of about 19.4%[9]. - The current ratio decreased to 0.32 as of September 30, 2023, down from 0.82 as of March 31, 2023, indicating a decline in liquidity[9]. - The company is actively negotiating the sale of hotel properties to improve its liquidity situation[12]. - The total borrowings amounted to approximately HKD 254,859,000 as of September 30, 2023, with a significant portion due within twelve months[12]. - A major shareholder has agreed to provide ongoing financial support for the company's operations over the next twelve months[34]. - The management believes the group will be able to fund its operations and meet its financial obligations based on cash flow forecasts[34]. Operational Efficiency and Strategy - The company plans to continue controlling administrative costs and managing capital expenditures to improve operational efficiency[12]. - The company has accumulated years of experience in property investment and is seeking related investment opportunities to drive long-term growth[7]. - The company is focused on enhancing risk control measures to navigate the challenging political and economic environment[7]. - The company is considering ceasing operations in the securities investment and financing segment to allocate more resources to other divisions[105]. Shareholder and Governance - The board has decided not to declare any interim dividend for the six months ended September 30, 2023, consistent with the previous year[23]. - The company has not granted or agreed to grant any share options under the new share option plan as of September 30, 2023[43]. - The total number of share options available for issuance under the plan is 729,436,936 shares, representing about 10% of the issued shares as of September 30, 2023[43]. - The company has complied with the Corporate Governance Code during the review period, with the exception of certain deviations noted[45]. - The independent non-executive directors are aware of their roles and responsibilities, and the board believes sufficient measures have been taken to ensure compliance with the Corporate Governance Code[45]. - The chairman of the board did not attend the annual general meeting held on September 28, 2023, due to other commitments, but other directors were present and capable of addressing shareholder questions[45]. Market and Segment Performance - Revenue from agricultural operations decreased by 28.5% to approximately HKD 30,151,000, accounting for 67.6% of total revenue[75]. - The average selling price of soybeans decreased by 17.4% to USD 380 per ton, contributing to a loss of approximately HKD 11,242,000 in the farming segment[75]. - The property investment segment reported revenue of HKD 14,454,000 for the six months ended September 30, 2023, with a loss of HKD 71,031,000, compared to a loss of HKD 59,850,000 in the same period of 2022[115]. - The hotel segment recorded no revenue for the six months ended September 30, 2023, with a loss of HKD 31,330,000, compared to a loss of HKD 566,000 in the same period of 2022[115]. - Revenue from the Chinese market was HKD 14,454, down 54.3% from HKD 31,565 in the previous year[138]. - Revenue from Bolivia was HKD 30,151, a decrease of 28.5% from HKD 42,183 in the previous year[138]. Other Financial Information - The company has not purchased, sold, or redeemed any of its listed securities during the six months ended September 30, 2023[44]. - The company has adopted the standard code of conduct for securities transactions by directors as per the listing rules, and all directors confirmed compliance as of September 30, 2023[48]. - The audit committee has reviewed the interim report for the six months ending September 30, 2023[49]. - The interim financial statements include a consolidated income statement and other comprehensive income statement for the six months ending September 30, 2023[67]. - Basic and diluted loss per share for the six months ended September 30, 2023, was HKD (186,884,000), compared to HKD (54,156,000) in the same period of 2022[160].

Financial Performance - The company reported a loss attributable to owners of approximately HKD 186,896,000 for the six months ended September 30, 2023, compared to a loss of HKD 54,172,000 for the same period in 2022[5]. - The group recorded a loss of approximately HKD 186,896,000 for the six months ended September 30, 2023, which is about 2.5 times higher than the loss of HKD 54,172,000 for the same period in 2022[48]. - Gross profit decreased by 54.7% to approximately HKD 20,873,000, compared to HKD 46,101,000 for the same period in 2022[48]. - The company incurred an operating loss of HKD 146,147,000 for the period, compared to an operating loss of HKD 32,804,000 in the previous year[151]. - The pre-tax loss for the period was (160,331) thousand HKD, compared to (57,838) thousand HKD in the previous year[146]. - Total comprehensive expenses for the period amounted to (243,055) thousand HKD, an increase from (182,853) thousand HKD in the previous year[137]. Revenue and Income - The company's revenue for the six months ended September 30, 2023, was approximately HKD 44,605,000, a decrease of about 39.5% compared to HKD 73,748,000 for the same period last year[75]. - Revenue from the agriculture business decreased by 28.5% to approximately HKD 30,151,000, accounting for 67.6% of total revenue[77]. - The property investment business generated revenue of 14,454 thousand HKD, slightly up from 13,573 thousand HKD year-on-year[146]. - The hotel business recorded no revenue during the period, compared to HKD 17,992,000 for the same period in 2022, with a loss of approximately HKD 31,330,000[52]. - The group has not recorded any revenue from its resource business for the six months ended September 30, 2023, with a loss of approximately HKD 314,000 attributed mainly to administrative costs[83]. Assets and Liabilities - Total assets as of September 30, 2023, were approximately HKD 1,733,288,000, a decrease from HKD 2,558,371,000 as of March 31, 2023[6]. - The company’s equity attributable to owners decreased to HKD 1,246,896,000 as of September 30, 2023, from HKD 1,489,939,000 as of March 31, 2023[6]. - The group’s total liabilities include approximately HKD 590,161,000 owed to a related company, which is unsecured and interest-free[46]. - The total liabilities as of September 30, 2023, were 454,627 thousand HKD, significantly reduced from 1,036,655 thousand HKD as of March 31, 2023[139]. - The total net assets as of September 30, 2023, were 1,733,288 thousand HKD, down from 2,558,371 thousand HKD as of March 31, 2023[147]. Cash Flow and Financing - Cash and cash equivalents increased to HKD 72,288,000 from HKD 60,746,000 as of March 31, 2023[6]. - The company is actively negotiating with lenders for the renewal of borrowings amounting to approximately HKD 254,859,000 due within twelve months[10]. - The group is actively seeking investment opportunities to develop its light asset business, aiming for long-term growth[85]. - The group is in discussions with lenders regarding the renewal of borrowings to ensure operational continuity[89]. - The group is seeking further financing arrangements, including funding from affiliated companies[115]. Impairment and Fair Value Losses - The group recognized an impairment loss of approximately HKD 20,545,000 for property, plant, and equipment during the period[52]. - The fair value loss on investment properties increased by 11.2% to approximately HKD 78,462,000, compared to HKD 70,588,000 for the same period in 2022[48]. - The group recorded a loss of approximately HKD 78,462,000 from fair value changes in investment properties for the six months ended September 30, 2023[184]. Dividends and Shareholder Returns - The group did not declare any dividends for the six months ended September 30, 2023, and 2022[41]. - The company will not declare an interim dividend for the six months ended September 30, 2023, consistent with the previous year[151]. Operational Strategy and Future Plans - The company aims to improve its operational funding and cash flow situation through various measures, including seeking further financing arrangements[24]. - The company plans to monetize the hotel asset to increase operational liquidity, with a proposed sale price of RMB 360,000,000 (approximately HKD 391,304,000) under consideration[80]. - The group plans to enhance rental income levels and may consider timely divestment of certain Shanghai properties to improve operational liquidity[105]. - The group is considering discontinuing the hotel segment to allocate more resources to other divisions[188]. Employment and Corporate Structure - As of September 30, 2023, the group employed approximately 108 staff, down from 138 on March 31, 2023[126]. - The group has not made any significant acquisitions or disposals of subsidiaries or joint ventures in the six months ending September 30, 2023[117].

Financial Performance - The group's total revenue for the year ended March 31, 2023, was approximately HKD 146,392,000, a decrease of about 2% compared to HKD 149,347,000 in 2022[13]. - The group reported a loss attributable to shareholders of approximately HKD 196,544,000, a reduction of about 15.8% from HKD 233,386,000 in the previous year[13]. - The agricultural business revenue increased by 10.3% to approximately HKD 89,749,000, representing 61.3% of the group's total revenue[15]. - The hotel business reported a revenue decrease of 22% to approximately HKD 28,615,000 for the year, down from HKD 36,707,000 in 2022, accounting for 19.6% of the group's total revenue[26]. - The group's revenue for the year ended March 31, 2023, was approximately HKD 146,392,000, a decrease of about 2% compared to HKD 149,347,000 in 2022, primarily due to a 22% decline in hotel business revenue to approximately HKD 28,615,000[51]. - The group recorded a loss of approximately HKD 197,419,000 for the year ended March 31, 2023, compared to a loss of HKD 238,636,000 in 2022[64]. Property and Investment - Rental income from property investment decreased by 10.3% to approximately HKD 28,028,000, accounting for 19.1% of the group's total revenue[6]. - The fair value loss of investment properties for the year was approximately HKD 168,966,000, compared to HKD 50,909,000 in 2022[1]. - The fair value loss on investment properties increased approximately 2.3 times to about HKD 168,966,000, compared to HKD 50,909,000 in 2022[52]. - The group is actively discussing the potential sale of a hotel, with a proposed price of RMB 360,000,000 (approximately HKD 409,091,000)[10]. - The group is actively negotiating with potential buyers to sell hotel properties and/or certain investment properties to enhance liquidity[68]. Operational Metrics - The average occupancy rate of the Shanghai property increased from 43% as of March 31, 2022, to 54% as of March 31, 2023[6]. - The average occupancy rate for the hotel dropped to around 73% during the year, compared to a consistent 95% over the past two years[26]. - The hotel property has a book value of approximately HKD 408,276,000 as of March 31, 2023, down from HKD 460,733,000 a year earlier[27]. Financial Position - As of March 31, 2023, the group's equity was approximately HKD 1,521,716,000, down from HKD 1,846,740,000 in 2022[66]. - The group's cash and bank deposits as of March 31, 2023, were approximately HKD 60,746,000, an increase from HKD 40,926,000 in 2022[66]. - The group's net current liabilities as of March 31, 2023, were approximately HKD 175,202,000, compared to net current assets of approximately HKD 67,003,000 in 2022[66]. - The company has bank and other borrowings of approximately HKD 285,660,000 due within twelve months, and is actively negotiating with lenders for refinancing[81]. Corporate Governance - The company is committed to maintaining good corporate governance practices, adhering to the corporate governance code as set out in the Hong Kong Stock Exchange Listing Rules[97]. - The management team has extensive experience in finance and accounting, with key members holding significant qualifications and positions in various reputable organizations[90][92][95]. - The company is focused on enhancing transparency and accountability to shareholders through good corporate governance practices[97]. - The board consists of six members, including three executive directors and three independent non-executive directors, ensuring a balanced governance structure[100]. - The company has adopted the standard code of conduct for securities trading as per the listing rules, confirming compliance by all directors for the fiscal year ending March 31, 2023[107]. Risk Management and Compliance - The company has established anti-corruption agreements with suppliers in its hotel business, emphasizing integrity and compliance in operations[129]. - The group has established guidelines for cooperation with government officials during unannounced inspections related to anti-corruption measures[148]. - The group plans to organize anti-corruption training for employees in the next reporting period[150]. Shareholder Information - Major shareholders include Rich Monitor Limited with 14.17% ownership, Pengxin Holdings Limited with 9.72%, and AXA Holdings Limited with 8.79%[170]. - The board does not recommend the payment of dividends for the fiscal year ending March 31, 2023, consistent with the previous year[173]. Environmental and Social Responsibility - The company has a comprehensive environmental, social, and governance (ESG) report[187]. - The company has implemented a food safety management system, ensuring compliance with safety guidelines for food procurement and related products[125]. - There were no product recalls due to safety or health reasons during the reporting period, indicating strong product quality management[120].

Audit and Review - The annual performance for the year ended March 31, 2023, has been reviewed by the audit committee, which consists of three independent non-executive directors[2]. Corporate Governance - The executive directors include Mr. Jiang Zhaobai, Mr. Lin Changsheng, and Mr. Chen Yi, while the independent non-executive directors are Mr. He Yaoyu, Mr. Gao Mingdong, and Mr. Wu Zhibin[3]. Compliance and Regulations - The company will provide supplementary information in accordance with the Hong Kong Stock Exchange Listing Rules[1]. - The company emphasizes that all other information stated in the annual performance announcement remains unchanged[6]. Announcement Details - The announcement date for the annual performance is June 29, 2023[5].

Financial Performance - The company's total comprehensive expenses for the year amounted to HKD 325,024,000, compared to HKD 197,295,000 in the previous year, reflecting a significant increase [4]. - The basic and diluted earnings per share were HKD 2.694 and HKD 3.200 respectively, indicating a decrease in profitability [3]. - The company reported a pre-tax loss of HKD 202,038,000, compared to a loss of HKD 250,886,000 in the previous year, indicating an improvement in financial performance [9]. - The company reported a loss of approximately HKD 197,419,000 for the fiscal year ending March 31, 2023, indicating significant financial challenges [41]. - The group recorded a loss of approximately HKD 197,419,000, a decrease from HKD 238,636,000 in the previous year [90]. - The net loss for the year 2023 was HKD 197,419,000, compared to a net loss of HKD 238,636,000 in 2022, representing an improvement of 17.3% [4]. - Operating loss decreased to HKD 151,276,000 in 2023 from HKD 212,227,000 in 2022, indicating a reduction of 28.7% [4]. - The company recorded a net loss of approximately HKD 197,419,000 for the year ended March 31, 2023 [180]. Revenue and Business Segments - The agricultural business generated revenue of HKD 89,749,000, up from HKD 81,383,000, showing an increase of approximately 10.6% [9]. - The property investment business reported a revenue of HKD 28,028,000, down from HKD 31,257,000, indicating a decrease of about 10.5% [9]. - The hotel business revenue decreased from HKD 36,707,000 to HKD 28,615,000, a decline of approximately 22.1% [9]. - Revenue from agricultural business increased by 10.3% to approximately HKD 89,749,000, accounting for 61.3% of total revenue [74]. - Revenue for the year 2023 was HKD 146,392,000, a decrease of 1.3% from HKD 149,347,000 in 2022 [4]. - Revenue from the China segment was HKD 56,643,000 in 2023, down from HKD 67,964,000 in 2022, a decline of 16.5% [4]. - Revenue from Bolivia increased to HKD 89,749,000 in 2023, up from HKD 81,383,000 in 2022, reflecting a growth of 10.5% [4]. Assets and Liabilities - The total assets decreased from HKD 2,902,087,000 in the previous year to HKD 2,558,371,000, representing a decline of approximately 11.85% [5]. - The total equity attributable to the company's owners decreased from HKD 1,814,088,000 to HKD 1,489,939,000, a decline of about 17.88% [5]. - The total liabilities decreased from HKD 1,055,347,000 to HKD 1,036,655,000, reflecting a slight reduction of about 1.8% [21]. - As of March 31, 2023, total liabilities amounted to HKD 1,036,655,000, a slight decrease from HKD 1,055,347,000 in the previous year [180]. - The company's net current liabilities were approximately HKD 175,202,000 as of March 31, 2023 [180]. - The current liabilities net amount was approximately HKD 175,202,000 as of March 31, 2023, compared to net current assets of approximately HKD 67,003,000 on March 31, 2022 [91]. - The debt-to-asset ratio was 34.2% as of March 31, 2023, compared to 30.8% on March 31, 2022 [91]. Cash Flow and Financial Support - The company received government subsidies totaling HKD 311,000,000, including HKD 288,000,000 from the Hong Kong government [53]. - A major shareholder has agreed to provide financial support to the company for the next 12 months to ensure operational continuity [130]. - The financial support from a major shareholder is expected to continue for the next 12 months to ensure operational stability [5]. - The company plans to seek further financing arrangements, including funding from related companies [180]. Operational Challenges and Strategies - The company reported a loss of HKD 16,608,000 due to impairment losses on mining rights [49]. - The fair value loss on investment properties amounted to HKD 168,966,000, indicating significant market challenges [49]. - The company plans to expand its market presence and invest in new technologies to enhance operational efficiency [51]. - The group is considering ceasing operations in the securities investment and financing business to allocate more resources to other divisions [83]. - The company is actively negotiating with potential buyers to sell its hotel properties and/or certain investment properties to improve liquidity [120]. - The company plans to adopt a conservative approach and closely monitor market conditions while considering partnerships with experienced parties in resource business development [114]. Market Conditions and Future Outlook - The average selling price of soybeans increased by 21% to USD 460 per ton [74]. - The benchmark price for manganese ore increased by approximately 2.2% as of March 31, 2023, compared to the previous year [112]. - The company will closely monitor exchange rate fluctuations and take appropriate actions to mitigate foreign exchange risks [124]. - The company anticipates that successful implementation of its business plan may lead to positive cash flow and significantly improve operational performance [116].

Financial Performance - Revenue for the six months ended September 30, 2022, was HKD 73,748,000, an increase of 13.5% compared to HKD 64,898,000 for the same period in 2021[11]. - Gross profit for the same period was HKD 46,101,000, up from HKD 37,708,000, reflecting a gross margin improvement[11]. - The company reported a net loss of HKD 54,172,000 for the six months ended September 30, 2022, compared to a net loss of HKD 18,090,000 in the prior year, indicating a significant increase in losses[11][14]. - The total comprehensive loss for the period was HKD 182,853,000, compared to HKD 18,079,000 in the previous year, primarily due to foreign exchange losses[14]. - The basic and diluted loss per share was HKD 0.742, compared to HKD 0.248 for the same period last year[11]. - The company experienced a significant increase in expected credit losses, with a provision of HKD 4,930,000 compared to a reversal of HKD 7,597,000 in the previous year[11]. - Other income and gains for the period were HKD 998,000, a decrease from HKD 3,792,000 in the prior year[11]. - The fair value loss on investment properties was HKD 70,588,000, compared to a loss of HKD 9,639,000 in the previous year, indicating a deterioration in property valuations[11]. - The total pre-tax loss for the six months ended September 30, 2022, was HKD 57,838,000, compared to a pre-tax loss of HKD 20,749,000 in the same period of 2021[48]. - The group reported a net loss of HKD 54,156,000 for the six months ended September 30, 2022, compared to a net loss of HKD 18,078,000 in the same period of 2021[80]. Assets and Liabilities - As of September 30, 2022, total assets amounted to HKD 2,675,169,000, a decrease of 7.8% from HKD 2,902,087,000 as of March 31, 2022[19]. - Non-current assets decreased to HKD 1,893,087,000 from HKD 2,098,690,000, representing a decline of 9.8%[19]. - Current assets totaled HKD 782,082,000, slightly down from HKD 803,397,000, a decrease of 2.6%[19]. - Total liabilities were HKD 1,011,282,000, down from HKD 1,055,347,000, indicating a reduction of 4.2%[19]. - The equity attributable to owners of the company decreased to HKD 1,631,251,000 from HKD 1,814,088,000, a decline of 10.1%[19]. - The company's total equity as of September 30, 2022, was HKD 1,663,887,000, down from HKD 1,846,740,000, a decrease of 9.8%[19]. - The company's current liabilities amounted to HKD 708,326,000, a slight decrease from HKD 736,394,000, representing a reduction of 3.8%[19]. - The total segment liabilities decreased to HKD 116,605, down 9.7% from HKD 129,250[51]. - Trade payables increased to HKD 13,277,000 as of September 30, 2022, from HKD 11,495,000 as of March 31, 2022, representing a growth of 15.5%[117]. - Other payables and received deposits decreased to HKD 56,445,000 as of September 30, 2022, down from HKD 62,412,000 as of March 31, 2022, a decline of 9.4%[117]. Cash Flow and Financing - For the six months ended September 30, 2022, the net cash generated from operating activities was HKD 17,266,000, a decrease of 69.6% compared to HKD 56,711,000 for the same period in 2021[31]. - Total cash and cash equivalents at the end of the period were HKD 48,370,000, down 46.5% from HKD 90,496,000 at the end of the same period in 2021[31]. - The financing activities net cash used was HKD 6,842,000, a significant decrease from net cash generated of HKD 2,142,000 in the previous year[31]. - The company incurred interest expenses of HKD 13,309,000, a substantial increase from HKD 2,472,000 in the same period last year[31]. - The company reported a total borrowing of HKD 284,000,000 as of September 30, 2022, an increase from HKD 266,000,000 as of March 31, 2022, marking a rise of 6.8%[123]. - The company's total borrowings were approximately HKD 862,274,000 as of September 30, 2022, down from HKD 893,696,000 as of March 31, 2022[164]. Segment Performance - The agricultural business segment reported revenue of HKD 42,183,000, a significant increase of 35.1% from HKD 31,243,000 in the same period last year[48]. - The property investment segment generated revenue of HKD 13,573,000, a decrease of 11.6% from HKD 15,350,000 in the previous year[48]. - The hotel business segment's revenue was HKD 17,992,000, slightly down by 1.7% from HKD 18,305,000 in the same period last year[48]. - Revenue from external customers in China for the six months ended September 30, 2022, was HKD 31,565, a decrease of 6.2% from HKD 33,655 in the same period of 2021[64]. - Revenue from Bolivia increased to HKD 42,183, up 35.1% from HKD 31,243 year-on-year[64]. Investment and Fair Value - The fair value loss on investment properties was HKD 70,588 for the period[56]. - The fair value of financial assets held for trading was HKD 656,107,000 as of September 30, 2022, compared to HKD 667,906,000 as of March 31, 2022[103]. - The company reported a fair value gain of approximately HKD 42,788,000 from investments in Heilongjiang Guozhong Water Co., Ltd. for the six months ended September 30, 2022[103]. - The group held securities investments totaling approximately HKD 656,107,000, representing 24.5% of total assets of HKD 2,675,169,000[154]. - The group agreed to sell 227,312,500 shares of Heilongjiang Guozhong Water Affairs Co., Ltd. for a total consideration of RMB 577,373,750 (approximately HKD 656,107,000) to Shanghai Pengxin and Mr. Jiang[156]. Management and Governance - The company has complied with the corporate governance code throughout the review period, with some deviations noted[190]. - The audit committee reviewed the interim report for the six months ending September 30, 2022[194]. - The company plans to adopt a cautious approach to manage its business and strategies amid political and economic uncertainties[160]. - The company did not purchase, sell, or redeem any of its listed securities during the six months ending September 30, 2022[189]. Employee and Shareholder Information - The company employed approximately 155 staff as of September 30, 2022, down from 160 as of March 31, 2022[173]. - The number of issued and fully paid ordinary shares remained at 7,294,369,363 as of September 30, 2022[112]. - The total shares held by major shareholders include 1,742,300,000 shares owned by Jiang Zhaobai, representing 23.89% of the total shares[178]. - Rich Monitor Limited holds 1,033,300,000 shares, accounting for 14.17% of the total shares, while Pengxin Holdings Limited owns 709,000,000 shares, representing 9.72%[183].

Financial Performance - The company's revenue for the year ended March 31, 2022, was approximately HKD 149,347,000, an increase of about 17.5% compared to HKD 127,093,000 in the previous year[7]. - The loss attributable to shareholders for the year was approximately HKD 233,386,000, representing an increase of about 72.8% from HKD 135,055,000 in the previous year[7]. - The basic and diluted loss per share was approximately HKD 3.200, compared to HKD 1.851 in the previous year[7]. - For the fiscal year ending March 31, 2022, the group's revenue was approximately HKD 149,347,000, an increase of about 17.5% compared to HKD 127,093,000 in the previous year[37]. - The group recorded a loss of approximately HKD 238,636,000, which is an increase of about 76.6% from HKD 135,091,000 in the previous year, primarily due to impairment losses related to mining rights and financial asset fair value changes[37][40]. Property and Rental Income - Rental income from property investment decreased by 2.1% to approximately HKD 31,257,000, accounting for 20.9% of total revenue[9]. - The average occupancy rate for the Shanghai property decreased from 51% to 43% year-over-year, while the Beijing property maintained an occupancy rate of approximately 96%[9]. - The fair value loss on investment properties was approximately HKD 50,909,000, compared to HKD 43,373,000 in the previous year[9]. - The company plans to review its investment property portfolio and implement measures to enhance rental income levels[10]. Hotel Business - Revenue from the hotel business slightly increased to approximately HKD 36,707,000, representing 24.6% of total revenue[15]. - The hotel division recorded a profit of approximately HKD 2,753,000, compared to a loss of HKD 1,514,000 in the previous year[15]. - The hotel business in Shanghai has a building area of 15,997 square meters and was designated as a quarantine hotel during the COVID-19 pandemic[139]. Agricultural Business - The agricultural business reported a revenue increase of 38.7% to approximately HKD 81,383,000, accounting for 54.5% of total revenue[17]. - Crop sales generated approximately HKD 77,135,000, with soybean being the primary crop, averaging 2.3 tons per hectare from 11,000 hectares planted[17]. - The average selling price of soybeans increased by 22% to USD 380 per ton, contributing to a segment profit of approximately HKD 26,389,000, a turnaround from a loss of HKD 33,208,000 the previous year[17]. - The average selling price of soybeans increased, contributing an additional revenue of approximately HKD 22,724,000 to the agricultural business[37]. Securities and Investments - The group recorded a loss of approximately HKD 62,451,000 in the securities investment and financing business, compared to a profit of HKD 91,613,000 the previous year[20]. - The total value of securities investments under financial assets at fair value was approximately HKD 667,906,000, representing 36.2% of the group's net assets[21]. - The group plans to review its investment strategy in Heilongjiang Guozhong and may liquidate its investment to enhance operational liquidity if necessary[22]. Mining Operations - The mining rights in Indonesia have an estimated resource volume of approximately 18,800,000 tons, but production activities have not yet commenced since acquisition in 2011[23]. - The benchmark price for manganese ore decreased to USD 145 per ton, leading to an impairment loss of approximately HKD 109,109,000 for the mining rights[24]. - The estimated value of the mining rights as of March 31, 2022, was approximately HKD 69,555,000, down from HKD 178,664,000 the previous year[24]. Corporate Governance - The board of directors has emphasized the importance of risk management practices, particularly in technology and operational processes, to safeguard company assets[67]. - The board consists of six members, including three executive directors and three independent non-executive directors[74]. - The company has maintained compliance with corporate governance standards, ensuring transparency and accountability to shareholders[67]. - The board has established effective risk management and internal control systems to achieve strategic objectives[81]. - The company has adopted the standard code of conduct for securities trading as per the listing rules, confirming compliance by all directors[72]. Environmental, Social, and Governance (ESG) - The company’s environmental, social, and governance (ESG) report covers four main business operations during the reporting period[138]. - The company aims to minimize adverse environmental impacts while creating shared sustainable value with stakeholders[151]. - The group has established an environmental, social, and governance working group to assess and manage related matters[150]. - The group aims to reduce overall emission intensity by 10% by 2032, starting from the current reporting period[180]. - The group has complied with all relevant environmental laws and regulations without any significant violations during the reporting period[161]. Waste and Emissions Management - The group generated a total of 5.77 tons of hazardous waste during the reporting period, primarily due to machinery and fumigation activities[173]. - The total non-hazardous waste produced was 11.09 tons, including organic waste from the agricultural business[175]. - The overall greenhouse gas emission density was 457.16 kg of CO2 equivalent per hectare or 60.20 tons of CO2 equivalent per employee[166]. - The agricultural business accounted for 85.38% of total greenhouse gas emissions, with direct emissions from mobile sources burning diesel at 1,640.30 tons[166]. - The increase in emissions was mainly attributed to the additional diesel consumption by agricultural machinery and increased fuel usage in hotel kitchens[162].

Revenue and Profitability - Revenue for the six months ended September 30, 2021, was HKD 64,898,000, an increase of 17.4% compared to HKD 55,014,000 for the same period in 2020[13]. - Gross profit for the same period was HKD 37,708,000, representing a gross margin of approximately 58.1%[13]. - The company reported a net loss of HKD 18,090,000 for the six months ended September 30, 2021, an improvement from a net loss of HKD 54,906,000 in the prior year[13]. - The basic and diluted loss per share for the period was HKD 0.248, compared to HKD 0.753 for the same period in 2020[13]. - Other income and gains for the period amounted to HKD 3,792,000, up from HKD 1,874,000 in the previous year[13]. - The company recorded a reversal of expected credit losses amounting to HKD 7,597,000, compared to a provision of HKD 1,477,000 in the prior year[13]. - Total comprehensive loss for the period was HKD 18,079,000, compared to HKD 39,449,000 in the previous year, indicating a significant reduction in losses[16]. - The company reported a fair value loss on investment properties of HKD 9,639,000, a decrease from HKD 23,596,000 in the previous year[13]. - The total revenue for the property investment business was HKD 15,350,000, up from HKD 14,858,000 in 2020, reflecting a growth of 3.3%[54]. - The hotel business generated revenue of HKD 18,305,000, compared to HKD 17,047,000 in the previous year, marking an increase of 7.4%[54]. - Agricultural business revenue surged to HKD 31,243,000 from HKD 23,109,000, indicating a growth of 35.3%[54]. - The total loss for the period was HKD 18,090,000, a reduction from a loss of HKD 54,906,000 in the previous year, showing an improvement of 67%[54]. - The group reported a total segment revenue of HKD 64,898,000, compared to HKD 55,014,000 in the previous year, reflecting a growth of 17.1%[54]. - The agricultural segment achieved a profit of HKD 2,458,000, a significant improvement from a loss of HKD 30,391,000 in the same period last year[54]. Assets and Liabilities - Total assets as of September 30, 2021, amounted to HKD 3,138,292 thousand, slightly up from HKD 3,135,705 thousand as of March 31, 2021[21]. - Total liabilities increased to HKD 1,137,637 thousand from HKD 1,121,242 thousand, indicating a rise of approximately 1.5%[21]. - The net current assets improved to HKD 120,461 thousand compared to HKD 79,247 thousand in the previous period, reflecting a significant increase of 52%[21]. - The equity attributable to owners decreased to HKD 1,962,765 thousand from HKD 1,976,561 thousand, showing a decline of about 0.7%[21]. - The total equity as of September 30, 2021, was HKD 2,000,655 thousand, down from HKD 2,014,463 thousand, representing a decrease of approximately 0.7%[21]. - The total liabilities to total assets ratio stands at approximately 36.3%, up from 35.8% in the previous period[21]. - The company’s non-controlling interests remained relatively stable at HKD 37,890 thousand compared to HKD 37,902 thousand[21]. - The total segment assets as of September 30, 2021, were HKD 3,091,252, slightly up from HKD 3,111,217 as of March 31, 2021[61]. - The hotel business segment reported a slight decrease in assets to HKD 482,508 from HKD 484,488, indicating stability in this area[61]. - The securities investment and financing business showed a marginal increase in assets to HKD 761,781 from HKD 765,829, reflecting a stable performance[61]. Cash Flow and Financing - Cash and cash equivalents increased to HKD 90,496 thousand from HKD 33,413 thousand, marking a substantial rise of 170%[21]. - The net cash generated from operating activities for the six months ended September 30, 2021, was HKD 61,210,000, a significant increase from HKD 8,219,000 in the same period of 2020, representing a growth of 645%[36]. - The total cash and cash equivalents at the end of the period were HKD 90,496,000, a substantial increase from HKD 16,175,000 at the end of the previous year, representing a growth of 460%[36]. - The financing activities generated a net cash inflow of HKD 2,142,000, a turnaround from a net cash outflow of HKD 6,121,000 in the same period last year[36]. - The bank and other borrowings totaled HKD 187,181,000 as of September 30, 2021, significantly up from HKD 39,998,000 as of March 31, 2021[177]. - The company’s total liabilities increased significantly, reflecting a strategic shift in financing[177]. - The company has established a loan agreement for approximately HKD 150,000,000, secured by shares of certain subsidiaries[182]. - As of September 30, 2021, the group's borrowings amounted to HKD 183,000,000 in Hong Kong dollars and USD 4,181,000 in US dollars[183]. Management and Corporate Governance - The total remuneration for key management personnel for the six months ended September 30, 2021, was HKD 5,738,000, a decrease from HKD 5,966,000 in the same period of 2020[189]. - Management fees paid to a related company amounted to HKD 1,784,000 for the six months ended September 30, 2021, compared to HKD 860,000 in the same period of 2020[194]. - The company has adopted a new share option scheme effective from September 3, 2021, to incentivize eligible participants contributing to the group's business success[157]. - The company did not declare any interim dividend for the six months ended September 30, 2021, consistent with the previous year[105]. Investment and Impairment - The fair value of investment properties was approximately zero HKD as of September 30, 2021, down from HKD 72,690,000 as of March 31, 2021[106]. - The impairment assessment indicated no impairment losses recognized for the six months ended September 30, 2021, compared to HKD 31,323,000 for the same period in 2020[121]. - The fair value loss on investment properties was HKD 9,639, indicating challenges in the property investment segment[69]. - The loss from fair value changes for the investment in Heilongjiang Guozhong Water Co., Ltd. was approximately HKD 2,738,000 for the six months ended September 30, 2021[141]. - The company holds a 13.74% equity stake in Heilongjiang Guozhong, with a market value representing 35.87% of the group's net asset value as of September 30, 2021[144]. Customer and Supplier Relations - Revenue from external customers in China reached HKD 33,655 for the six months ended September 30, 2021, up from HKD 31,905 in the same period last year, reflecting a growth of approximately 5.5%[78]. - The agricultural business reported revenue of HKD 27,372 from a major customer, an increase of 35.5% compared to HKD 20,237 in the previous year[79]. - The average credit period granted to customers is 60 to 90 days[130]. - The average credit period granted by suppliers remained at 30 to 60 days as of September 30, 2021[169].

Financial Performance - For the fiscal year ending March 31, 2021, the group's revenue was approximately HKD 127,093,000, a decrease of about 7.4% compared to HKD 137,199,000 in 2020[7]. - The loss attributable to shareholders for the year was approximately HKD 135,055,000, a reduction of about 74.5% from HKD 529,070,000 in the previous year[7]. - The group's revenue for the year ended March 31, 2021, was approximately HKD 127,093,000, a decrease of 7.4% compared to HKD 137,199,000 in the previous year[29]. - The net loss for the year was approximately HKD 135,091,000, a significant reduction of 74.5% from HKD 529,111,000 in the previous year[29]. Investment Properties - The total value of the group's investment properties was approximately HKD 1,207,028,000 as of March 31, 2021, compared to HKD 1,155,100,000 in 2020[9]. - Rental income from investment properties was approximately HKD 31,918,000, accounting for 25.1% of total revenue, down from HKD 47,831,000 in 2020[10]. - The group's investment properties had a book value of approximately HKD 72,690,000 as of March 31, 2021, compared to approximately HKD 631,766,000 as of March 31, 2020[34]. - The group plans to continue reviewing its investment property portfolio and implement various measures to enhance rental income levels[11]. Agricultural Business - The agricultural business generated revenue of approximately HKD 58,659,000, accounting for 46.2% of total revenue, down from HKD 61,634,000 in the previous year[17]. - The average soybean price increased by 16.5% to USD 310 per ton, with an average yield of 2.2 tons per hectare from approximately 10,800 hectares planted[17]. - During the reporting period, the group's agricultural operations in Bolivia produced approximately 25,396,000 kilograms of crops, including 23,794,000 kilograms of soybeans and 1,602,000 kilograms of rice, from a total land area of 123,857,345 square meters[121]. - The agricultural business produced approximately 207,300 kilograms of beef during the reporting period, with an estimated 1,000 beef cattle and several dairy cows on a land area of 51,257,010 square meters[122]. Hotel Business - The group recorded hotel revenue of approximately HKD 36,516,000, representing 28.7% of total revenue, an increase from HKD 27,734,000 in 2020[15]. - The hotel business in Shanghai has a building area of 15,997 square meters, contributing to the group's overall operations[122]. - The hotel business has been operating as a quarantine hotel since March 2020, with the contract ceasing to be binding after June 2021 unless extended[123]. Financial Position - The total amount of securities investments as of March 31, 2021, was approximately HKD 720,279,000, representing 35.8% of the group's net assets of HKD 2,014,463,000[21]. - The group's cash and bank deposits as of March 31, 2021, were approximately HKD 33,413,000, an increase from HKD 16,188,000 in the previous year[32]. - The group's total borrowings as of March 31, 2021, were approximately HKD 945,149,000, an increase from HKD 818,232,000 in the previous year[32]. Corporate Governance - The company has adopted the corporate governance code as per the Hong Kong Stock Exchange's listing rules to enhance transparency and accountability to shareholders[57]. - The board consists of six members, including three executive directors and three independent non-executive directors, ensuring a balanced composition for independent judgment[67]. - The company has complied with the corporate governance code throughout the review period, with specific deviations disclosed[58]. - The independent non-executive director, Mr. Wu Zhibin, was appointed on May 7, 2021, to ensure compliance with listing rules regarding board composition[62]. Risk Management - The group has established a clear risk management framework to identify, assess, and manage significant risks, ensuring effective operations and compliance with applicable laws and regulations[106]. - The board has engaged external consultants to independently review the effectiveness of the group's risk management and internal control systems, covering all significant controls including financial, operational, and compliance monitoring[109]. Environmental Impact - The group recorded a total greenhouse gas emission of 7,786.94 tons of CO2 equivalent during the reporting period, with a density of 0.04 kg CO2 equivalent per square meter[134]. - The agricultural business accounted for 86.60% of total greenhouse gas emissions, primarily due to activities such as enteric fermentation and fuel combustion[138]. - The group is committed to sustainable development and will consider environmental impacts in future investment decisions[126]. Employee Information - The total number of employees as of March 31, 2021, is 130, with 55% in Bolivia's agricultural business, 32% in the hotel business, and 13% in property investment[190]. - The overall employee turnover rate during the reporting period is 23.8%, with turnover rates of 32.4% in Bolivia and 13.6% in China[194]. - There were no work-related fatalities during the reporting period[196]. - A total of 13 employee injury cases resulted in a cumulative loss of 130 workdays[197].

Financial Performance - Revenue for the six months ended September 30, 2020, was HKD 55,014,000, a decrease of 21.4% compared to HKD 69,882,000 for the same period in 2019[8]. - Gross profit for the same period was HKD 28,962,000, down 37.7% from HKD 46,485,000 in 2019[8]. - The company reported a loss before tax of HKD 61,496,000, significantly improved from a loss of HKD 272,299,000 in the previous year, representing a reduction of 77.4%[8]. - Total comprehensive loss for the period was HKD 39,449,000, compared to HKD 370,424,000 in 2019, indicating a substantial decrease of 89.4%[10]. - The basic and diluted loss per share for the period was HKD 0.753, an improvement from HKD 3.669 in the same period last year[8]. - The company reported a loss of HKD 54,891,000 for the period, leading to a total comprehensive loss of HKD 39,449,000[17]. - The group reported a loss of approximately HKD 54,906,000, a reduction of about 79.5% compared to a loss of HKD 267,634,000 in the same period last year[138]. - The loss attributable to shareholders for the period was approximately HKD 54,891,000, compared to HKD 267,616,000 in the previous year[138]. Revenue Breakdown - The property investment segment generated revenue of HKD 14,858 thousand, a decrease of 52.8% compared to HKD 31,496 thousand in 2019[34]. - The hotel business reported revenue of HKD 17,047 thousand, slightly down by 1.7% from HKD 17,348 thousand in the prior year[34]. - Agricultural business revenue increased to HKD 23,109 thousand, up 9.8% from HKD 21,038 thousand in 2019[34]. - Revenue from external customers in China for the six months ended September 30, 2020, was HKD 31,905, down from HKD 48,844 in the same period of 2019[56]. - The agricultural business's major customer A generated revenue of HKD 20,237 for the six months ended September 30, 2020, compared to HKD 20,997 in the previous year[57]. - The group recorded rental income from property investment of approximately HKD 14,858,000, a decrease from HKD 31,496,000 in the same period last year, accounting for 27% of total revenue[140]. - The group’s hotel business revenue decreased by 1.7% to HKD 17,047,000, compared to HKD 17,348,000 in the previous year[137]. - The group’s agricultural business maintained stable revenue at approximately HKD 23,109,000, up from HKD 21,038,000 in the previous year[137]. Assets and Liabilities - Total assets amounted to HKD 3,013,981,000, an increase from HKD 2,996,728,000[15]. - The company's equity attributable to owners decreased to HKD 1,918,288,000 from HKD 1,951,609,000[15]. - Total liabilities increased to HKD 1,057,770,000 from HKD 1,007,181,000[15]. - The net current assets rose to HKD 56,154,000 compared to HKD 44,882,000[15]. - The total equity decreased to HKD 1,956,211,000 from HKD 1,989,547,000[15]. - The total borrowings as of September 30, 2020, were HKD 669,519,000, a slight decrease from HKD 680,297,000 as of March 31, 2020, showing a reduction of about 1.1%[118]. - The group’s total borrowings were approximately HKD 867,056,000 as of September 30, 2020, up from HKD 818,232,000 as of March 31, 2020[154]. Cash Flow and Financial Management - For the six months ended September 30, 2020, the net cash generated from operating activities was HKD 8,219 thousand, a significant decrease from HKD 376,905 thousand in the same period of 2019, representing a decline of approximately 97.8%[25]. - The total cash and cash equivalents at the end of the reporting period was HKD 16,175 thousand, down from HKD 21,705 thousand at the end of the previous period[25]. - The financing activities net cash outflow was HKD 6,121 thousand, a significant reduction from HKD 403,573 thousand in the previous year, indicating improved cash management[25]. - The group’s cash and bank deposits amounted to approximately HKD 16,175,000 as of September 30, 2020, compared to HKD 16,188,000 as of March 31, 2020[153]. Impairments and Fair Value Adjustments - The company experienced a significant impairment loss on property, plant, and equipment amounting to HKD 31,323,000, which was not recorded in the previous year[8]. - The company recognized a fair value loss on investment properties of HKD 23,596,000, compared to a loss of HKD 21,111,000 in the previous year[8]. - The fair value loss on investment properties for the period was HKD 23,596[47]. - The fair value of investment properties as of September 30, 2020, was approximately HKD 614,986,000, down from HKD 631,766,000 as of March 31, 2020[76]. Shareholder Information - The company did not declare any interim dividends for the six months ended September 30, 2020, consistent with the previous year[74]. - The total number of issued and fully paid ordinary shares remained at 7,294,369,363 as of September 30, 2020, consistent with the previous reporting period[106]. - Rich Monitor Limited holds 1,033,300,000 shares, representing 14.17% of total equity[170]. - Pengxin Holdings Limited owns 709,000,000 shares, accounting for 9.72% of total equity[170]. - Ansheng Holdings Company Limited has 641,135,000 shares, which is 8.79% of total equity[171]. Corporate Governance - The board of directors has complied with the corporate governance code during the review period, with some deviations noted[177]. - The chairman of the board did not attend the annual general meeting due to other commitments, but the executive director was present to answer questions[178]. - The audit committee reviewed the interim report, including the accounting principles adopted by the group[181]. - The board of directors consists of four executive directors and three independent non-executive directors as of the report date[182].