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].

Financial Performance - The company's revenue for the year ended March 31, 2020, was approximately HKD 137,199,000, an increase of about 75.8% compared to HKD 78,064,000 in 2019[5] - The loss attributable to shareholders for the year was approximately HKD 529,070,000, a decrease of about 11.9% from HKD 600,252,000 in 2019[5] - The total revenue for the year increased by 75.8% to approximately HKD 137,199,000, primarily due to the growth in agricultural business and the absence of losses from financial asset sales[24] - The group reported a loss of approximately HKD 529,111,000, a reduction of about 12.5% from the previous year's loss of HKD 604,960,000[24] Property Investment - The total value of the investment properties was estimated at approximately HKD 1,155,100,000 as of March 31, 2020, down from HKD 1,282,094,000 in 2019[7] - Rental income from the property investment business was approximately HKD 47,831,000, accounting for 34.9% of total revenue, a decrease from HKD 53,249,000 in 2019[8] - The company recorded a loss of approximately HKD 40,337,000 in the property investment segment, compared to a profit of HKD 35,623,000 in 2019[8] - The group's investment properties were valued at approximately HKD 631,766,000 as of March 31, 2020, down from HKD 655,294,000 in the previous year[29] Hotel Operations - The average occupancy rate of the hotel property was approximately 62% for the year, down from 80% in 2019[10] - Revenue from the hotel business was approximately HKD 27,734,000, representing 20.2% of total revenue, a decrease from HKD 35,242,000 in 2019[12] - The hotel segment recorded a goodwill impairment loss of approximately HKD 45,738,000 due to the decline in recoverable amounts[12] - The hotel business in Shanghai has a building area of 15,997 square meters, contributing to the group's operations in China[99] Agricultural Business - The agricultural business in Bolivia had a total farmland area of approximately 17,500 hectares, with a book value of approximately HKD 371,962,000 as of March 31, 2020[14] - The group recorded revenue from agricultural operations of approximately HKD 61,634,000, representing a 28% increase compared to the previous year[15] - The number of cattle increased to 1,925, a growth of approximately 90% year-on-year, although the cattle business continues to incur losses[15] - The agricultural operations in Bolivia produced approximately 28,145,580 kilograms of crops during the reporting period, with a land area of 123,857,345 square meters[99] Financial Position - The group's cash and bank deposits as of March 31, 2020, were approximately HKD 16,188,000, down from HKD 79,975,000 the previous year[26] - The group's equity reached approximately HKD 1,989,547,000, a decrease from HKD 2,584,656,000 the previous year[26] - As of March 31, 2020, the total borrowings of the group amounted to approximately HKD 818,232,000, a decrease from HKD 893,906,000 as of March 31, 2019[27] - The group has a short-term repayment obligation of approximately HKD 675,594,000 due within one year, compared to HKD 888,158,000 in the previous year[27] Corporate Governance - The board emphasized the importance of corporate governance, adhering to the guidelines set forth by the Hong Kong Stock Exchange, ensuring transparency and accountability[49] - The company confirmed compliance with the securities trading code, with all directors adhering to the established standards throughout the fiscal year[54] - The board of directors held four meetings and one annual general meeting during the review year, with all executive directors attending 100% of the board meetings[59] - The company has three independent non-executive directors, all of whom have been confirmed to maintain their independence according to listing rules[66] Risk Management - The company has implemented a new risk management framework, which is expected to reduce operational risks by 30% over the next fiscal year[49] - The group has established a clear risk management framework to identify, assess, and manage significant risks, with operational units taking measures to mitigate risks during daily operations[87] - The external consultants have conducted an independent review of the group's risk management and internal control systems, with the report approved by the audit committee[89] Environmental, Social, and Governance (ESG) - The environmental, social, and governance (ESG) report covers the group's overall environmental and social performance across four key businesses during the reporting period from April 1, 2019, to March 31, 2020[99] - The total greenhouse gas emissions amounted to 5,823.47 tons of CO2 equivalent, with a density of 0.03 kg CO2 equivalent per square meter and 41.60 tons CO2 equivalent per employee[112] - The company is committed to sustainable development and will consider environmental impacts in future investment decisions[102] - The group has implemented energy efficiency measures, including the replacement of lighting with LED and encouraging guests to participate in energy-saving initiatives[134] Employee Engagement and Welfare - The group employed approximately 158 staff as of March 31, 2020, a slight decrease from 160 in the previous year[35] - The overall employee turnover rate during the reporting period was 26.7%, with turnover rates of 43.3% in Bolivia and 12.7% in China[157] - 71% of hotel employees received training, with 78% of male employees and 68% of female employees trained[168] - The company promotes equal opportunities in hiring, training, and promotions, ensuring no discrimination based on various factors[150] Community Engagement - The group is committed to community investment, supporting local communities through various initiatives, including donations from charity product sales[196] - The group donates 10 RMB for each charity product sold under the Holiday Inn Express brand to the IHG Foundation[196] - The group allocates 50% of the revenue from hotel coin-operated laundry facilities to the Hope Project, providing educational opportunities for impoverished children in rural China[196]

Financial Performance - The company reported revenue of HKD 69,882,000 for the six months ended September 30, 2019, compared to a revenue of HKD 1,995,000 for the same period in 2018, indicating a significant increase [8]. - The operating loss for the period was HKD 220,691,000, a decrease from an operating loss of HKD 490,932,000 in the previous year, reflecting an improvement in operational efficiency [8]. - The net loss attributable to the company's owners was HKD 267,616,000, compared to a net loss of HKD 496,217,000 in the prior year, showing a reduction in losses [8]. - The total comprehensive loss for the period was HKD 370,424,000, down from HKD 664,166,000 in the same period last year, indicating a positive trend [10]. - The company reported a basic and diluted loss per share of HKD 3.67, improved from HKD 8.16 in the previous year, reflecting better performance on a per-share basis [8]. - The company recorded a net loss of HKD 267,634,000 for the period [16]. - The group recorded a loss of approximately HKD 267,634,000, a reduction of about 46.1% compared to a loss of HKD 496,248,000 in the same period last year [156]. Financial Position - The total assets of the company as of September 30, 2019, were not detailed in the provided content, but the financial position should be monitored for future assessments [12]. - Non-current assets decreased from HKD 2,442,538 thousand to HKD 2,331,354 thousand, a decline of approximately 4.6% [14]. - Current assets decreased from HKD 1,246,511 thousand to HKD 921,994 thousand, a decrease of about 26% [14]. - Total assets decreased from HKD 3,689,049 thousand to HKD 3,253,348 thousand, representing a reduction of approximately 11.8% [14]. - Total liabilities decreased from HKD 1,104,393 thousand to HKD 1,039,116 thousand, a decrease of about 5.9% [14]. - Equity attributable to owners decreased from HKD 2,546,677 thousand to HKD 2,176,271 thousand, a decline of approximately 14.6% [14]. - The company’s total equity as of September 30, 2019, was HKD 2,214,232 thousand, down from HKD 2,584,656 thousand [14]. Cash Flow and Financing - The net cash generated from operating activities for the six months ended September 30, 2019, was HKD 376,905,000, an increase of 70.8% compared to HKD 220,734,000 in 2018 [23]. - Cash used in financing activities amounted to HKD 403,573,000, which is a significant increase from HKD 219,397,000 in the previous year [23]. - The cash and cash equivalents at the end of the reporting period decreased to HKD 21,705,000 from HKD 157,368,000 in the previous year, representing a decline of 86.2% [23]. - The company incurred interest payments of HKD 68,180,000, which is an increase from HKD 33,466,000 in the prior year [23]. - The total cash outflow from investing activities was HKD 16,199,000, compared to HKD 292,000 in the previous year [23]. - The company reported a decrease in cash and cash equivalents of HKD 42,867,000 for the period, contrasting with an increase of HKD 1,045,000 in the same period last year [23]. - The company’s cash and bank balances at the end of the reporting period were HKD 21,705,000, down from HKD 157,368,000 in the previous year [23]. Business Segments Performance - The agricultural business reported a significant increase in revenue to HKD 21,038,000 from HKD 398,000 in the previous year, although it still incurred a loss of HKD 5,175,000 [52]. - The hotel business generated revenue of HKD 17,348,000, down from HKD 19,700,000 in the same period of 2018, with a slight increase in profit to HKD 516,000 [52]. - The property investment business revenue decreased to HKD 31,496,000 from HKD 36,501,000, with a profit of HKD 1,805,000 [52]. - The financing and securities investment business showed a loss of HKD 201,743,000, an improvement from a loss of HKD 446,539,000 in the same period last year [52]. Investment and Assets - The fair value loss on investment properties amounted to HKD 21,111,000, compared to HKD 1,149,000 in the previous year, indicating increased volatility in property valuations [8]. - The total value of the group's investment properties was approximately HKD 1,191,244,000 as of September 30, 2019, down from HKD 1,282,094,000 as of March 31, 2019 [157]. - The group incurred a fair value loss of approximately HKD 191,953,000 on financial assets measured at fair value through profit or loss [156]. - The group recorded an unrealized investment loss of HKD 191,953,000 from its investment in Heilongjiang Guozhong Water Co., Ltd., with a share price decline from RMB 3.41 to RMB 2.65 [166]. Corporate Governance and Shareholder Information - No interim dividend was declared or proposed for the six months ended September 30, 2019, and no dividends were recommended by the board after the reporting period [86]. - Major shareholder Jiang Zhaobo holds 1,742,300,000 shares, representing 23.89% of the total shares [180]. - Ansheng Holdings Company Limited, fully owned by Shen Angang, holds 502,255,000 shares, representing 6.89% of the total shares [184]. - The board of directors has complied with the corporate governance code during the review period, with some deviations noted [193]. - The chairman, Jiang Zhaobo, did not attend the 2019 annual general meeting due to other commitments [194]. - The board of directors has confirmed compliance with the standards set forth in the Listing Rules Appendix 10 regarding securities trading throughout the reporting period [195].

Financial Performance - The group's revenue for the year ended March 31, 2019, was approximately HKD 138,789,000, representing a 54.4% increase from HKD 89,912,000 in 2018[6] - The net loss for the year was approximately HKD 604,960,000, a decrease from HKD 775,873,000 in 2018, primarily due to a 21.7% reduction in unrealized fair value losses on financial assets[6] - Basic and diluted loss per share was HKD 0.08993, compared to HKD 0.12763 in 2018[7] - Agricultural business revenue for the year was approximately HKD 48,168,000, a significant increase from HKD 471,000 in 2018, with a segment profit of approximately HKD 15,125,000 compared to a loss of HKD 2,404,000 in 2018[5] - The hotel segment recorded revenue of approximately HKD 35,242,000, down from HKD 39,072,000 in 2018, mainly due to a slight decline in average room rates[14] Investment and Assets - The group's investment properties had a total estimated value of approximately HKD 1,282,094,000 as of March 31, 2019, down from HKD 1,347,788,000 in 2018[9] - The total value of securities investments was approximately HKD 911,924,000, a decrease from HKD 1,393,232,000 in 2018, representing 35.3% of the group's net assets[20] - The group confirmed a loss of approximately HKD 93,216,000 related to impairment of mining rights, with the carrying value of mining rights as of March 31, 2019, being approximately HKD 178,664,000[28] - As of March 31, 2019, the group had investment properties valued at approximately HKD 655,294,000 and hotel properties valued at approximately HKD 485,235,000 pledged as collateral for liabilities[35] Cash Flow and Borrowings - The group’s cash and bank deposits as of March 31, 2019, were approximately HKD 79,975,000, down from HKD 179,712,000 in 2018[32] - As of March 31, 2019, the total borrowings of the group amounted to approximately HKD 893,906,000, with HKD 888,158,000 due within one year[33] - The company issued 1,215,700,000 shares at a price of HKD 0.143 per share, raising approximately HKD 173,845,000, with 94% allocated for repaying other borrowings[34] Market Outlook and Strategy - The group expects to closely monitor the property market conditions and prudently seize any opportunities in this segment[11] - The group anticipates that the hotel segment will continue to provide stable income and potential capital gains[15] - Future outlook indicates a focus on reviewing and restructuring existing business segments to maintain competitiveness amid an unstable economic environment[30] Corporate Governance - The management emphasized the importance of maintaining strong corporate governance practices, adhering to the guidelines set forth by the Hong Kong Stock Exchange[65] - The board consists of seven directors, including four executive directors and three independent non-executive directors[72] - The company aims to enhance shareholder value through improved transparency and accountability in its operations and decision-making processes[64] - The company has adopted a board diversity policy to ensure a balanced skill set and experience among board members, considering various factors such as gender, age, and professional experience[102] Environmental Sustainability - The total greenhouse gas emissions for the reporting period amounted to 1,275.07 tons of CO2 equivalent, with an annual emission density of 0.079 tons of CO2 equivalent per square meter[139] - The company implemented the IHG Green Program and achieved Level 1 certification, improving lighting efficiency[142] - The company has established guidelines for waste recycling and encourages the separation of waste, including food waste collection by Hai Jie Environmental Company[148] - The group has implemented energy efficiency measures, tracking energy usage monthly to identify savings opportunities and set reduction targets[157] Employee Management - The group employed approximately 160 staff as of March 31, 2019, an increase from 120 staff in the previous year[43] - The employee turnover rate for the group was 0% during the reporting period, indicating strong employee retention[168] - The total number of trained employees reached 56, with a total of 1,020 training hours provided[187] - 100% of middle management employees received training, while 77% of frontline and other employees participated[187] Risk Management - The company has established a clear risk management framework to identify, assess, and manage significant risks, ensuring effective operations and compliance with applicable laws and regulations[111] - An external consultant was hired to conduct an independent review of the company's risk management and internal control systems, which was approved by the audit committee[114] - The audit committee is responsible for ensuring compliance with statutory and listing requirements, and it has the authority to appoint independent legal or other advisors when necessary[103]