Company Location and Facilities - The company is located in a prime area of Hong Kong's Kowloon East, specifically at 2 Wing Yip Street, Kwun Tong, with a 180-degree view of Victoria Harbour[29] - The LU+ Business Centre features high-quality meeting venues for multifunctional purposes and a state-of-the-art gym room[31] Risk Management and Governance - The company has implemented effective risk management mechanisms and internal control systems as of March 31, 2023[7] - The board has reviewed the implementation of the shareholder communication policy and is satisfied with its effectiveness[12] - The company has adopted a whistleblowing policy to ensure transparency and accountability in handling suspicious activities and fraud[6] - The company maintains a zero-tolerance policy towards corruption and has established a comprehensive anti-corruption framework[6] - The company has engaged a professional firm for internal audit functions to assist the board in reviewing the internal control systems[16] - The company has a strong governance structure, with experienced board members overseeing its operations and strategic direction[52][54] - The company emphasizes high standards of business ethics and governance, requiring all employees to act legally and ethically according to the company's policies[171] - The board is responsible for long-term strategy formulation and monitoring, approving dividends, and reviewing significant acquisitions and asset sales[179] - The company has established a mechanism for directors to seek independent professional advice to ensure strong decision-making independence[180] - The board will continue to review and improve corporate governance practices to ensure proper regulation of business activities and decision-making processes[169] Shareholder Engagement and Dividends - The company encourages shareholders to attend annual general meetings to discuss progress and matters[2] - The company has a dividend policy in place, although specific figures are not detailed in the provided content[25] - The company aims to provide shareholders with a long-term stable dividend income, subject to performance and business environment considerations[40] - The company proposed a final dividend of HKD 0.03 per share, totaling HKD 12.15 million, down from HKD 0.06 per share in the previous year[81] - The board aims to provide stable long-term dividend income to shareholders, with generous dividends based on business conditions and company performance[164] Community Engagement and Social Responsibility - The company has been recognized for 20 consecutive years with the "Caring Company" logo, reflecting its commitment to social responsibility[41] - The company supports various community service initiatives, including providing meals and vouchers to underprivileged groups and the elderly[45] - The company has sponsored the Hong Kong women's volleyball team for a five-year development plan to improve their skills[44] - The company has engaged in charitable activities, including supporting the Hong Kong Red Cross and various local community projects[43] - The company has implemented community service plans to assist underprivileged women and unemployed individuals through training and employment support[44] - The company has organized fundraising events to support local charities, raising funds to provide 1,608 meal boxes for the underprivileged[45] - The company has been actively involved in environmental protection initiatives and community engagement activities[41] - The company has committed to community investment, with a focus on creating a positive social impact[199] Financial Performance - The company reported a loss attributable to shareholders of approximately HKD 188.29 million, an increase of about 123% compared to a loss of HKD 84.54 million in the same period last year[83] - Revenue increased by approximately 20% to HKD 147.35 million from HKD 122.85 million in the previous year[83] - The company's pre-tax core profit, excluding fair value losses on investment properties, decreased by approximately 43% to about HKD 36.55 million[83] - The pre-tax loss was HKD 175.29 million, an increase of about 142% compared to a loss of HKD 72.51 million in the previous year[83] - Total assets decreased to HKD 4,056.53 million from HKD 4,175.96 million in the previous year[83] - The company's net asset value per share was HKD 9.63, down from HKD 9.95 in the previous year[83] - Total rental income increased by approximately 6% to HKD 101,644,000, while profit (excluding fair value losses on investment properties) rose by about 17% to HKD 62,391,000[85] - The financial investment segment reported a significant loss, with revenue increasing by approximately 262% to HKD 25,477,000, but a loss of HKD 17,830,000 due to increased fair value losses on financial assets[89] - The company sold 5,200 ounces of non-physical gold, incurring a loss of approximately HKD 8,226,000, and also recorded a loss of HKD 13,392,000 from the sale of all overseas stocks[89] Employee Welfare and Development - The group has established a fair and effective performance evaluation system and incentive bonus plan to motivate employees and achieve business performance goals[126] - The company emphasizes employee well-being and work-life balance, providing paid leave for various circumstances[151] - The company offers competitive compensation packages, including mandatory provident fund contributions, medical insurance, and various allowances, with annual reviews based on macroeconomic conditions and company performance[149] - The total employee turnover for the reporting period was 1, a significant decrease from 6 in the previous year[161] - The company reported zero employee work-related fatalities during the reporting period, maintaining a consistent record over the past three years[146] - Employee work-related lost days due to injuries were recorded at 0 for the current year, down from 3 in the previous year[146] - The total training hours for employees reached 922 hours in 2023, significantly up from 118.5 hours in 2022, with 25 employees receiving training[192] - The average training hours for employees in 2023 were 60.75 hours, compared to 9.63 hours in 2022[195] - The company aims to enhance employee retention and development through internal and external training programs[191] - The employee turnover rate for those aged 30 and below was 0.0%, while the rate for those aged 30-49 was also 0.0%[188] Environmental, Social, and Governance (ESG) Initiatives - The ESG report outlines the company's commitment to sustainability and the significant impact of its operations on environmental and social issues[48] - The report adheres to the ESG reporting guidelines set by the Hong Kong Stock Exchange, ensuring accuracy and consistency in disclosures[50] - The company emphasizes the importance of stakeholder engagement in assessing significant ESG issues and their impacts[51] - The company has implemented various environmental protection initiatives, including recycling programs and energy-saving measures in its offices[48] - The group reported a 71% reduction in liquefied petroleum gas energy consumption and a 37% decrease in pallet usage, reflecting its commitment to improving ESG performance[140] - The average training hours for trained employees increased by 4.3 times, with the proportion of trained employees rising by 17%[140] - The company has implemented a zero-tolerance policy regarding child labor and forced labor within its operations and supply chain[156] - Compliance with occupational health and safety regulations has been maintained, with no significant violations reported during the period[148] - The company conducts systematic checks and follows ISO45001:2018 standards to mitigate risks and enhance workplace safety[144] Market Outlook and Challenges - The company anticipates continued pressure on rental income due to high supply of new office buildings in East Kowloon and potential tenant downsizing requests[93] - The management plans to enhance marketing and property management to attract more tenants amid a challenging rental environment[93] - The company will continue to monitor market conditions and adjust its investment portfolio in response to uncertainties in the global financial market[95] - The outlook for economic recovery in Hong Kong remains cautious, with ongoing geopolitical tensions and high energy prices posing threats to global economic recovery[90] - The group’s financial performance is significantly influenced by the rental levels and occupancy rates of its properties, with potential risks from government policy changes affecting rental income[130] - The investment portfolio's market value fluctuations can have a substantial impact on the group's profitability, necessitating close monitoring of overall investment sentiment[132] Employee Statistics - As of March 31, 2023, the group employed 39 staff, an increase from 36 staff in the previous year, with total employee costs amounting to HKD 18,836,000, up from HKD 16,796,000 in 2022[126] - The total number of female employees increased from 16 in 2022 to 18 in 2023, while male employees increased from 20 to 21[190] - The employee turnover rate by gender showed 0.0% for females and 4.8% for males, compared to 15.0% and 18.8% respectively in the previous year[187]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈之內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示概不就因本公佈全部或任何部份內容而產生或因倚賴該等內容 而引致之任何損失承擔任何責任。 SAFETY GODOWN COMPANY, LIMITED （於香港註冊成立之有限公司） （股份代號：237） 截至二零二三年三月三十一日止年度 全年業績公告 安全貨倉有限公司（「本公司」）董事會（「董事會」）謹此宣佈，本公司及其附屬公司（「本集團」）截至二零 二三年三月三十一日止年度經審核之綜合業績如下： 綜合損益及其他全面收益表 截至二零二三年三月三十一日止年度 二零二三年 二零二二年 附註 千港元 千港元 收入 3 147,353 122,850 貨倉營運收入 20,232 19,719 物業投資收入 101,644 96,095 利息收入 21,472 2,090 ...

Financial Performance - The company recorded a loss attributable to shareholders of approximately HKD 134,744,000 for the six months ended September 30, 2022, an increase of about 78.5% compared to a loss of HKD 75,483,000 in the same period last year [2]. - Basic loss per share increased from HKD 0.19 to HKD 0.33 [2]. - The group reported a net loss before tax of HKD 134,744,000, an increase from a loss of HKD 75,483,000 for the same period in 2021 [67]. - The company reported a pre-tax loss of HKD 128,340,000, compared to a pre-tax loss of HKD 69,152,000 in the same period last year, reflecting a worsening financial position [41]. - The net loss recognized in profit or loss for the six months ended September 30, 2022, was HKD 1,245,000, compared to a loss of HKD 12,000 for the same period in 2021, indicating a significant increase in losses [84]. Revenue and Income - Total revenue increased by approximately 13.6% to HKD 68,243,000, up from HKD 60,053,000 in the previous year [2]. - Revenue for the six months ended September 30, 2022, was HKD 68,243,000, an increase of 13.4% compared to HKD 60,053,000 for the same period in 2021 [41]. - Warehouse operations revenue reached HKD 10,293,000, up 18.9% from HKD 8,653,000 year-on-year [54]. - Property investment income increased to HKD 49,012,000 from HKD 46,863,000, representing a growth of 4.6% [41]. Assets and Liabilities - The net asset value of the company decreased by approximately 3.9% to HKD 3,869,092,000, with a decrease in net asset value per share of about 4.0% to HKD 9.55 [16]. - Non-current assets, primarily investment properties, decreased to HKD 2,847,200,000 from HKD 2,966,340,000, a decline of 4.0% [43]. - Current assets totaled HKD 943,054,000, down from HKD 966,876,000, indicating a decrease of 2.5% [43]. - Total assets as of September 30, 2022, amounted to HKD 4,023,621,000, an increase from HKD 3,964,000,000 as of September 30, 2021 [59]. - The group’s total liabilities were HKD 154,529,000, an increase from HKD 69,152,000 year-on-year [59]. Shareholder Information - As of September 30, 2022, the total equity held by Mr. Lyu Rongyi is 41,501,580 shares, representing 10.25% of the company's issued shares [22]. - Major shareholder Jian Nan Financial Limited holds 147,610,335 shares, accounting for 36.45% of the company's issued shares [24]. - As of September 30, 2022, the total issued shares of the company are 405,000,000 [23]. - Ms. Chen Guanfeng holds a total of 218,827,818 shares indirectly, representing 54.03% of the company's issued shares [24]. Governance and Compliance - The company has complied with all provisions of the corporate governance code, except for specific clauses regarding the separation of roles between the chairman and CEO [31]. - The company has not signed formal appointment letters with its directors, but they are subject to re-election according to the company's articles of association [32]. - The company has adopted the standard code for securities transactions by directors, and all directors have confirmed compliance during the period [34]. Dividends and Share Transactions - The company declared an interim dividend of HKD 0.02 per share, totaling HKD 8,100,000, compared to HKD 16,200,000 for the same period in 2021 [66]. - The company has not purchased, sold, or redeemed any of its shares during the review period [28]. - The company will suspend share transfer registration from December 16 to December 21, 2022, for the distribution of interim dividends [27]. Investment Properties - The group recorded a fair value loss on investment properties of HKD 119,140,000, compared to a loss of HKD 99,440,000 in the same period last year [13]. - The fair value of investment properties decreased to HKD 2,847,200,000 as of September 30, 2022, down from HKD 2,966,340,000 as of March 31, 2022 [70]. - The company reported a loss of HKD 119,140,000 from the revaluation of investment properties for the six months ended September 30, 2022 [71]. Other Financial Information - Interest income increased to HKD 5,512,000 due to rising interest rates, while dividend income was HKD 3,426,000 [9]. - The tax expense for the six months ended September 30, 2022, was HKD 6,404,000, slightly up from HKD 6,331,000 in the same period of 2021 [65]. - The company recognized other income of HKD 665,000 related to COVID-19 subsidies from the Hong Kong government for the six months ended September 30, 2022 [63]. - The total compensation for directors and other key management personnel during the period was HKD 778,000, up from HKD 712,000 for the six months ended September 30, 2021, reflecting an increase of approximately 9.3% [87].

Community Engagement - The company has been sponsoring the annual "Hong Kong Synergy 24 Drum Competition and the Hong Kong Drum Festival" for 19 consecutive years, demonstrating its commitment to community engagement [5]. - The "Convenient Life Technology Electronic Payment" seminar was organized at "THE LU+" Business Centre, showcasing the company's involvement in community education initiatives [7]. - The company has actively participated in charitable events, including distributing necessities to grassroots families during the pandemic [11]. - The company has been involved in various community activities, including organizing calligraphy and yoga classes for the elderly [17]. - The group has participated in the "Caring Company" program for 19 consecutive years since 2003, receiving the "15 Years + Caring Company" award this year [167]. - The group donated HKD 1 for each jump during a charity rope skipping marathon, raising a six-figure sum to support underprivileged women and youth in acquiring new skills [168]. - The group provided anti-epidemic supplies to low-income families and elderly individuals during the pandemic, distributing food and essential items [169]. - The group established a scholarship program for employees' children to alleviate educational financial burdens and encourage academic achievement [168]. - The group actively supports community welfare organizations and engages employees in volunteer activities, including blood donation drives and educational programs [171]. Financial Performance - The total revenue for the year ended March 31, 2022, was HKD 122,850,000, an increase of 11.9% compared to HKD 109,784,000 in 2021 [39]. - The core profit for the year was HKD 52,020,000, a decrease of 38.6% from HKD 84,752,000 in the previous year [39]. - The company proposed a final dividend of HKD 0.06 per share, totaling HKD 24,300,000, compared to HKD 194,400,000 in the previous year [44]. - The total assets amounted to HKD 4,175,960,000, while total liabilities were HKD 147,824,000 as of March 31, 2022 [39]. - The earnings per share (EPS) for the year was a loss of HKD 0.21, compared to a loss of HKD 0.36 in the previous year [39]. - The company’s net asset value per share was HKD 9.95, down from HKD 10.67 in the previous year [39]. - The average return on equity was -2.02%, an improvement from -3.34% in the previous year [39]. - The company’s liquidity ratio was 18.55:1, indicating a decrease in liquidity compared to 21.05:1 in the previous year [39]. - The company recorded a loss before tax of HKD 72,514,000, an improvement from a loss of HKD 135,985,000 in the previous year [39]. - The fair value loss on investment properties was HKD 136,558,000, a significant reduction from HKD 232,333,000 in the previous year [39]. - The company's loss attributable to shareholders decreased by approximately 43% to HKD 84,538,000 compared to a loss of HKD 147,581,000 in the same period last year [46]. - Total revenue increased by about 12% to HKD 122,850,000 from HKD 109,784,000 [46]. - Core profit, excluding fair value losses on investment properties, decreased by approximately 34% to HKD 64,044,000 from HKD 96,348,000 [47]. Operational Highlights - The warehouse operations segment saw revenue and profit rise by approximately 39% to HKD 19,719,000 from HKD 14,168,000, with a turnaround from a loss of HKD 758,000 to a profit of HKD 3,016,000 [49]. - Rental income from the main investment property "振萬廣埸" increased by about 5% to HKD 75,661,000, with an average occupancy rate rising by approximately 4.1% to about 84% [50]. - Financial investment segment revenue increased by approximately 67% to HKD 7,036,000, while profit decreased by about 67% to HKD 15,580,000 due to a decline in fair value gains on financial assets [54]. - The new mini-storage business "安存迷你倉" achieved an occupancy rate of approximately 44.7% by May 31, 2022, up from 32% at the end of March 2022 [63]. - The company anticipates that warehouse operations will maintain a volume of approximately 15,000 cubic meters, contingent on overall economic recovery and trade activity [58]. - The rental rate for "振萬廣埸" is expected to face pressure due to high office supply in East Kowloon, despite an increase in occupancy from below 80% to about 89% [59]. - The average occupancy rate improved from approximately 36% to 48%, with average warehouse rent increasing by about 3% to approximately HKD 95 per cubic meter [71]. - Total rental income from the property investment segment increased by approximately 5% to HKD 96,095,000, while profit decreased by about 8% to HKD 53,430,000 [73]. Corporate Governance - The company is committed to corporate governance and transparency, as evidenced by its detailed annual report and financial disclosures [23]. - The company has adopted multiple provisions from the new corporate governance code effective from the fiscal year 2022/23 to enhance governance practices [96]. - The board currently consists of one executive director, one non-executive director, and three independent non-executive directors, with over 50% of the board being independent [103]. - The company has not yet filled the positions of chairman and CEO since April 2015, and the board is actively seeking suitable candidates [97]. - All directors have confirmed compliance with the standard code of conduct for securities trading during the fiscal year ending March 31, 2022 [102]. - The board is responsible for long-term strategy formulation and monitoring, approving dividends, and ensuring good corporate governance [107]. - Directors have access to accurate and relevant information and can consult independent professional advice at the company's expense [108]. - The company encourages directors to participate in professional development courses to enhance their knowledge and skills [109]. - The company will continue to review and improve its corporate governance practices to ensure proper regulation of business activities and decision-making processes [101]. - The board currently consists of four non-executive directors, three of whom are independent, ensuring independent judgment and valuable guidance for the company's development [113]. Risk Management - The Board is responsible for ensuring a robust and effective risk management and internal control system [141]. - The risk management plan implemented during the year aims to identify, assess, manage, and monitor all significant risks faced by the group [142]. - The Board is tasked with evaluating and determining the nature and extent of risks faced by the group, with annual reviews conducted [142]. - The Audit Committee assists the Board in fulfilling its responsibilities regarding risk management and internal controls [141]. - The internal audit function has been established with a three-year plan approved by the board, focusing on key control measures and identifying significant design flaws [148]. - Management confirmed the effectiveness of risk management mechanisms and internal control systems for the fiscal year ending March 31, 2022 [152]. Environmental, Social, and Governance (ESG) - The ESG report covers the group's performance in property investment and warehouse operations for the fiscal year ending March 31, 2022 [178]. - The group emphasizes sustainable development and environmental protection in all business activities, aiming to create value in both environmental and social aspects [182]. - The group has established a dedicated ESG working group since 2017 to handle ESG matters, composed of personnel with adequate ESG knowledge [195]. - The board of directors is responsible for determining the overall ESG strategy and conducting annual risk assessments to evaluate ESG performance and identify related risks and opportunities [192]. - The group ensures compliance with labor laws and regulations to protect employee rights [187]. - The group has a comprehensive ESG governance framework led by the board to support sustainable development in daily operations [191].

Financial Performance - The company recorded a loss attributable to shareholders of approximately HKD 75,483,000 for the six months ended September 30, 2021, a decrease of about 24.1% compared to a loss of HKD 99,457,000 in the same period of 2020 [2]. - Total revenue increased by approximately 6.8% to HKD 60,053,000, up from HKD 56,234,000 in the previous year [2]. - The company reported a pre-tax loss of HKD 69,152 thousand, an improvement from a pre-tax loss of HKD 93,445 thousand in the previous year [45]. - Total comprehensive loss attributable to shareholders for the period was HKD 75,483 thousand, down from HKD 99,457 thousand in the same period last year [45]. - Basic loss per share was HKD 0.19, compared to HKD 0.25 for the same period in 2020 [45]. - The group incurred a pre-tax loss of HKD 69,152,000, which includes central administrative costs of HKD 4,150,000 [63]. Revenue and Income Segments - The property investment segment's total rental income increased by about 2.2% to HKD 46,863,000, while segment profit (excluding fair value losses) decreased by approximately 10.4% to HKD 26,195,000 [7]. - The financial investment segment's revenue increased by approximately 53% to HKD 4,537,000, despite a significant decrease in segment profit by about 86% to HKD 7,186,000 [8]. - Warehouse operation income was HKD 8,653 thousand, while property investment income was HKD 46,863 thousand, compared to HKD 7,421 thousand and HKD 45,847 thousand respectively in 2020 [45]. - The group reported a segment profit of HKD 1,057,000 from warehouse operations, contrasting with a loss of HKD 140,754,000 in property investment [63]. Assets and Liabilities - The company's net asset value decreased by approximately 6.2% to HKD 4,053,391,000 as of September 30, 2021, compared to HKD 4,323,274,000 on March 31, 2021 [18]. - Non-current assets decreased from HKD 4,414,041 thousand as of March 31, 2021, to HKD 4,144,988 thousand as of September 30, 2021, representing a decline of approximately 6.1% [47]. - Current assets decreased from HKD 1,112,527 thousand to HKD 953,227 thousand, a reduction of about 14.3% [47]. - The company’s total liabilities increased slightly from HKD 90,767 thousand to HKD 91,597 thousand, indicating a marginal rise of about 0.9% [47]. - Deferred tax liabilities amounted to HKD 12,414,000, contributing to the total liabilities of HKD 152,671,000 [65]. Cash Flow and Dividends - Cash generated from operating activities was HKD 138,153 thousand, a significant recovery from a cash outflow of HKD 204,222 thousand in the previous year [51]. - Cash and bank balances reached HKD 266,455,000, an increase of about 7.4% from HKD 247,974,000 on March 31, 2021 [18]. - The company paid dividends totaling HKD 194,400 thousand during the period, compared to HKD 12,150 thousand in the previous year, indicating a substantial increase in dividend payouts [49]. - The group declared an interim dividend of HKD 0.04 per share, totaling HKD 16,200,000, compared to HKD 36,450,000 in the previous period [72]. Employee and Operational Costs - Employee costs increased by approximately 10.4% to HKD 8,173,000 due to the addition of new employees and increased performance bonuses [14]. - The total remuneration for directors and key management personnel during the period was HKD 712,000, an increase from HKD 549,000 for the six months ended September 30, 2020 [94]. - Employee costs, including director remuneration, increased by approximately 10.4% to HKD 8,173,000 for the six months ended September 30, 2021, compared to HKD 7,401,000 for the same period in 2020 [19]. - The number of employees remained stable at 37 as of September 30, 2021 [19]. Corporate Governance - The company has complied with all corporate governance codes except for certain provisions regarding the separation of roles between the chairman and CEO, which have been vacant since April 5, 2015 [38]. - The board will continue to review and improve corporate governance practices to ensure proper regulation of business activities and decision-making processes [38]. - The company is actively seeking suitable candidates to fill the vacant chairman and CEO positions to enhance governance structure [38]. - The company has adopted the standard code for securities trading by directors, confirming compliance during the six months ended September 30, 2021 [39]. Fair Value and Impairment - The company recorded a fair value loss on investment properties of HKD 99,440,000 during the period, compared to a loss of HKD 170,000,000 in the same period of 2020 [14]. - Investment properties showed a fair value impairment of HKD 99,440 thousand, down from HKD 170,000 thousand in the previous year, suggesting a reduction in impairment losses [51]. - The fair value of the investment properties as of September 30, 2021, is HKD 3,001,960,000, down from HKD 3,101,400,000 as of March 31, 2021, reflecting a decrease of approximately 3.2% [76]. - A loss of HKD 99,440,000 was recognized in the income statement due to fair value changes for the six months ended September 30, 2021, compared to a loss of HKD 170,000,000 for the same period in 2020 [77]. Other Key Information - The company continues to hold 9,000 ounces of non-physical gold after selling 4,400 ounces and 4,600 ounces in March and August 2021, respectively [13]. - The company has no bank loans and no significant contingent liabilities as of September 30, 2021 [22][23]. - Major shareholder Jian Nan Financial Limited holds a direct interest of 147,610,335 shares, representing approximately 36.45% of the company's issued shares [28]. - The company did not purchase, sell, or redeem any of its listed shares during the review period [32]. - The company has established various committees including the Audit Committee, Remuneration and Nomination Committee, and Investment Committee [98].

Financial Performance - The company reported a significant increase in revenue, achieving a total of HKD 1.2 billion, representing a year-on-year growth of 15%[12] - The company's total revenue for the year ended March 31, 2021, was HKD 109,784,000, a decrease of approximately 20.3% from HKD 137,612,000 in 2020[26] - Shareholders' attributable loss for the year was HKD 147,581,000, compared to a loss of HKD 292,527,000 in the previous year, indicating an improvement of 49.6%[33] - Core profit, excluding fair value changes of investment properties, was HKD 84,752,000, significantly up from HKD 15,065,000 in 2020[33] - Total revenue for the group fell by about 20% to HKD 109,784,000, with core profit increasing by 463% to HKD 84,752,000 after excluding property revaluation losses[45] Operational Highlights - User data showed a 20% increase in active users, reaching 500,000 by the end of the fiscal year[12] - New product launches are expected to contribute an additional HKD 200 million in revenue, with a focus on enhancing customer experience[12] - The company is expanding its market presence in Southeast Asia, targeting a 25% increase in market share within the next two years[12] - Investment in technology development increased by 30%, focusing on automation and efficiency improvements[12] - A new strategic partnership was announced, expected to drive a 15% increase in operational efficiency[12] Future Outlook - The company provided an optimistic outlook for the next fiscal year, projecting a revenue growth of 10% to 12%[12] - The company maintains a cautious outlook on the overall operating environment and the development of the pandemic, preparing to respond swiftly to current and future challenges[43] Dividend and Shareholder Information - The proposed final dividend is HKD 0.05 per share, totaling HKD 20,250,000, compared to HKD 12,150,000 in 2020[32] - The dividend payout ratio increased to 272.38% from 152.26% in 2020, reflecting a significant rise in dividend distribution relative to earnings[26] - The company declared a total dividend of HKD 48,600,000, down from HKD 145,800,000 in the previous year[46] - The company is committed to providing shareholders with a long-term stable dividend income, subject to performance and business environment considerations[144] Corporate Governance - The board of directors emphasized the importance of sustainability, committing to reduce carbon emissions by 20% over the next five years[12] - The board of directors is responsible for overseeing the overall strategy and monitoring the operational and financial performance of the group[82] - The company has established three committees: the Remuneration and Nomination Committee, the Audit Committee, and the Investment Committee, each with defined responsibilities[91] - The board has complied with all corporate governance code provisions, except for specific provisions regarding the separation of roles between the chairman and CEO[74] - The company encourages directors to participate in professional development courses to enhance their knowledge and skills[85] Risk Management - The board is responsible for ensuring a robust and effective risk management and internal control system, recognizing that risk is inevitable but manageable to create value for the company[119] - Major risks are identified through a questionnaire survey sent to senior management, covering strategic, operational, financial, and compliance risks[120] - Risk reports are submitted to the audit committee and board, detailing major risks and corresponding action plans to mitigate them[124] - Management confirms the implementation of effective risk management mechanisms and internal control systems for the fiscal year ending March 31, 2021[130] Employee and Community Engagement - The company has implemented various social responsibility initiatives, including support for charitable activities and community services[146] - The company emphasizes the importance of employee health and safety, implementing safety indicators and annual safety plans to mitigate operational risks[187] - The company provides competitive compensation packages, including mandatory provident fund, medical insurance, and long service awards[195] - The company has established an employee safety manual to guide daily operations and maintain health and safety practices[189] Environmental, Social, and Governance (ESG) Initiatives - The company emphasizes its commitment to environmental protection and sustainable development, aiming to create value for stakeholders and the public[159] - The company has established a comprehensive ESG governance framework led by the board to ensure stakeholder interests are considered in strategy formulation[167] - Key identified ESG issues include air emissions, greenhouse gas emissions, waste management, and energy usage, highlighting the company's focus on environmental impact[182] - The company conducted a materiality assessment to identify key ESG issues impacting its operations and stakeholder engagement[176]

Financial Performance - The company reported a loss attributable to shareholders of approximately HKD 99,457,000 for the six months ended September 30, 2020, an increase of about 200.8% compared to a loss of HKD 33,060,000 in the same period last year[3]. - Total revenue decreased by approximately 22.5% to HKD 56,234,000, down from HKD 72,558,000 in the previous year[3]. - Basic loss per share increased from HKD 0.08 to HKD 0.25 after adjusting for the share split[3]. - The company reported a pre-tax loss of HKD 93,445,000, compared to a pre-tax loss of HKD 26,015,000 in the previous year, indicating a substantial increase in losses[44]. - Loss attributable to shareholders for the period was HKD 99,457,000, compared to HKD 33,060,000 in the same period last year, reflecting a significant increase in losses[44]. - Basic loss per share was HKD 0.25, compared to HKD 0.08 in the previous year, indicating a worsening financial performance[44]. Revenue Breakdown - The warehouse operations segment's revenue fell by approximately 34.9% to HKD 7,421,000, with profit dropping about 95.5% to HKD 143,000[7]. - The investment property segment's total rental income decreased by 5.2% to HKD 45,847,000, with profit declining to HKD 29,246,000[9]. - The financial investment segment's revenue dropped approximately 76.8% to HKD 2,966,000, while profit increased by about 444.9% to HKD 51,274,000 due to fair value gains[10]. - Warehouse operating income decreased to HKD 7,421,000 from HKD 11,394,000, representing a decline of 34.6%[44]. - Property investment income was HKD 45,847,000, down 5.3% from HKD 48,364,000 year-on-year[44]. - Interest income significantly dropped to HKD 1,535,000 from HKD 10,455,000, a decrease of 85.3%[44]. Asset and Equity Changes - Cash and bank balances decreased by 25.4% to HKD 595,140,000 from HKD 798,077,000 as of March 31, 2020[15]. - The net asset value of the company decreased by approximately 2.5% to HKD 4,407,848,000, with net asset value per share dropping to HKD 10.88[16]. - The company's non-current assets totaled HKD 3,414,637, a decrease from HKD 3,585,459 as of March 31, 2020, representing a decline of approximately 4.8%[46]. - The company's current assets increased to HKD 1,134,462 from HKD 1,072,789, reflecting a growth of about 5.7%[46]. - The total equity attributable to shareholders decreased to HKD 4,407,848 from HKD 4,519,455, a decline of about 2.5%[48]. Dividends and Shareholder Information - The board declared an interim dividend of HKD 0.09 per share, compared to HKD 0.0267 per share in the previous year[5]. - The company paid dividends totaling HKD 12,150 during the period, down from HKD 135,000 in the previous year, reflecting a decrease of approximately 91%[50]. - The total equity held by Mr. Lui Wing-yee amounted to 41,501,580 shares, representing approximately 10.25% of the company's issued shares[22]. - Major shareholder Jian Nan Financial Limited held 147,610,335 shares, representing approximately 36.45% of the company's issued shares[26]. Fair Value and Impairment - The company recorded a fair value loss on investment properties of HKD 170,000,000, compared to a loss of HKD 66,900,000 in the previous year[13]. - The company experienced a significant impairment loss on investment properties amounting to HKD 170,000,000[44]. - The fair value of the company's investment properties decreased to HKD 3,159,600,000 as of September 30, 2020, down from HKD 3,351,900,000 as of March 31, 2020, reflecting a loss of HKD 170,000,000 during the period[84]. Compliance and Governance - The company has complied with all provisions of the corporate governance code, except for certain specified provisions[33]. - The board is actively seeking suitable candidates to comply with listing rules regarding independent non-executive directors[36]. Other Financial Metrics - The group recorded a foreign exchange gain of HKD 120,000, compared to no gain for the same period last year[19]. - The company’s total tax expense for the six months ended September 30, 2020, was HKD 6,012,000, down from HKD 7,045,000 for the same period in 2019[77]. - The company’s total liabilities decreased slightly to HKD 89,804 from HKD 89,819, indicating a marginal reduction[46].

Financial Performance - The company reported a significant increase in revenue, achieving a total of $150 million, representing a 20% growth year-over-year[3]. - The company provided an optimistic outlook for the next fiscal year, projecting a revenue growth of 15% to $172.5 million[3]. - The company reported a loss attributable to shareholders of HKD 292,527,000 for the year, compared to a profit of HKD 279,042,000 in the previous year, marking a significant decline[30]. - Core profit, excluding fair value changes of investment properties, was HKD 15,065,000, down from HKD 51,162,000 in the prior year, indicating a decrease of approximately 70.6%[30]. - Total revenue decreased by 3% to HKD 137,612,000, down from HKD 142,275,000 in the previous year[43]. - The group's financial investments recorded a loss of HKD 29,042,000, compared to a loss of HKD 4,039,000 in 2019, reflecting the impact of the unstable global economic environment[36]. Operational Efficiency - Operational efficiency improvements are expected to reduce costs by 10%, translating to savings of approximately $1.5 million annually[3]. - Warehouse operations revenue decreased by about 18% to HKD 19,958,000, with overall storage rates dropping from 77% to approximately 58%[31]. - The average occupancy rate for warehouses dropped to 58%, down from 69% in the previous year, indicating a significant decline in demand[45]. - The average occupancy rate for "Zhenwan Plaza" was 83%, a decline of about 2% compared to the previous year[33]. Market Expansion and Product Development - User data showed a rise in active users to 1.2 million, up from 1 million in the previous year, indicating a 20% increase[3]. - New product launches are expected to contribute an additional $10 million in revenue, with a focus on enhancing user experience and engagement[3]. - The company is expanding its market presence in Southeast Asia, targeting a 25% increase in market share within the next two years[3]. - A new strategic partnership is anticipated to generate an additional $3 million in revenue through collaborative projects[3]. Investments and Acquisitions - Research and development investments increased by 30%, totaling $5 million, aimed at innovative technology solutions[3]. - The company is exploring potential acquisitions to enhance its service offerings, with a budget of $20 million allocated for this purpose[3]. Shareholder Returns - The company proposed a final dividend of HKD 0.03 per share, which totals HKD 12,150,000, down from HKD 16,200,000 in the previous year[29]. - The company aims to provide shareholders with a long-term stable dividend income, subject to performance and business environment considerations[142]. Corporate Governance - The board consists of one executive director, one non-executive director, and three independent non-executive directors, ensuring over half of the board members are independent[77]. - The company has established clear divisions of responsibilities between the board and management, ensuring effective governance and compliance with relevant codes[81]. - The board is currently focused on overall strategic planning and development while awaiting the appointment of a new chairman and CEO[86]. - The board of directors held five meetings and one annual general meeting during the year, with all members attending 100% of the board meetings[78]. Risk Management - The group is subject to financial risks related to interest rates, foreign currencies, stock prices, liquidity, and credit, which are closely monitored by management[64]. - The risk management plan implemented during the year aims to identify, assess, manage, monitor, and report all significant risks faced by the group[118]. - Major risk categories identified include strategic risk, operational risk, financial risk, and compliance risk[118]. Environmental, Social, and Governance (ESG) Initiatives - The company has been recognized for its commitment to corporate social responsibility, receiving the "Caring Company" logo for over 15 consecutive years[145]. - The ESG report highlights the company's commitment to sustainability and outlines its strategies for economic, environmental, and social impacts[149]. - The company has established a comprehensive data collection and reporting mechanism to comply with updated ESG reporting guidelines effective from July 1, 2020[151]. - The company encourages employee participation in community service and environmental protection initiatives[144]. Employee Welfare and Safety - Employee compensation is reviewed annually based on market trends and company performance, with competitive packages including mandatory provident fund and medical insurance[173]. - The company emphasizes employee well-being by providing paid leave and overtime compensation, ensuring compliance with labor laws[173]. - COVID-19 risk mitigation measures include temperature checks, flexible work arrangements, and provision of masks and sanitizers to ensure employee safety[170]. Compliance and Integrity - The company strictly adheres to personal data protection regulations and has not reported any significant violations during the reporting period[183]. - The company emphasizes integrity and does not tolerate any form of corruption or fraud, with strict internal policies in place[184]. - The company has established reporting channels for potential fraud and has not identified any major violations related to anti-corruption laws[186].

Financial Performance - The company recorded a loss attributable to shareholders of approximately HKD 33,060,000 for the six months ended September 30, 2019, a decrease of about 121.2% compared to a profit of HKD 155,703,000 for the same period in 2018[2] - Total revenue increased by approximately 4.5% to HKD 72,558,000, primarily due to an increase in property investment income[2] - The net profit, excluding fair value losses on investment properties, increased by approximately 36.8% to HKD 33,840,000[2] - The company reported a net loss before tax of HKD 26,015,000, compared to a profit of HKD 162,952,000 in the previous year[40] - The company experienced a net loss before tax of HKD 26,015,000, compared to a profit of HKD 162,952,000 in the previous year[46] - The company recorded a fair value loss of HKD 66,900,000 on investment properties for the six months ended September 30, 2019, compared to a gain of HKD 130,973,000 for the same period in 2018[75] - The total comprehensive income attributable to shareholders for the period was HKD 37,613,000, significantly lower than HKD 265,824,000 in the prior year[40] - Other comprehensive income for the period was HKD 70,673,000, down from HKD 110,121,000 in the prior year[40] Revenue and Income Segments - Warehouse income decreased by approximately 3.3% to HKD 11,394,000, with operating profit from the warehouse segment dropping about 27.4% to HKD 3,183,000[5] - Property investment income rose by approximately 6.4% to HKD 48,364,000, while the profit from the property investment segment decreased by about 4.3% to HKD 32,425,000[7] - Financial investment income increased by approximately 4.8% to HKD 12,800,000, with segment profit rising by approximately 438.5% to HKD 9,410,000[8] - Revenue for the six months ended September 30, 2019, was HKD 72,558,000, an increase of 4.0% from HKD 69,465,000 in the same period of 2018[40] - Warehouse operating income was HKD 11,394,000, slightly down from HKD 11,786,000 year-on-year[40] - Property investment income increased to HKD 48,364,000 from HKD 45,467,000, representing a growth of 4.2%[40] - Financial investment income was HKD 12,800,000, contributing to a total revenue of HKD 72,558,000 for the group, compared to HKD 69,465,000 in the previous year, reflecting a growth of 4.00%[65] Dividends and Shareholder Returns - The interim dividend was reduced to HKD 0.08 per share, down from HKD 0.28 per share in 2018, reflecting the poor performance during the period[3] - The company declared an interim dividend of HKD 0.08 per share, totaling HKD 10,800,000, compared to HKD 37,800,000 for the same period last year, which was HKD 0.28 per share[70] - The company paid dividends of HKD 135,000 during the period, compared to HKD 37,800 in the previous period, showing a significant increase of approximately 257.9%[46] Assets and Liabilities - As of September 30, 2019, the company's net asset value decreased by approximately 2% to HKD 4,789,722,000, with cash and bank balances falling by about 14.2% to HKD 737,518,000[14] - Current assets amounted to HKD 1,112,984, down from HKD 1,174,794, indicating a decrease of about 5.3%[42] - Total equity as of September 30, 2019, was HKD 4,789,722, a decrease from HKD 4,887,109 as of April 1, 2019, representing a decline of about 2%[44] - The company’s total liabilities decreased to HKD 88,025 from HKD 82,425, reflecting an increase of approximately 6.5%[42] - The total liabilities as of September 30, 2019, were HKD 42,113,000, an increase from HKD 39,900,000 as of March 31, 2019, reflecting a rise of approximately 5.53%[67] Corporate Governance and Compliance - The company complied with all corporate governance code provisions during the six months ended September 30, 2019, except for specific provisions related to the roles of the chairman and CEO[29] - The company plans to continuously review and improve its corporate governance practices to ensure proper regulation of business activities and decision-making processes[32] Economic Outlook - The company anticipates continued economic challenges in 2020 due to ongoing geopolitical issues, which may adversely affect performance in the second half of the year[9] Management and Personnel - Employee costs increased by 10.9% to HKD 7,639,000 for the six months ended September 30, 2019, compared to HKD 6,891,000 for the same period in 2018[15] - The remuneration for directors and key management personnel during the period was HKD 591,000, a decrease from HKD 614,000 for the six months ended September 30, 2018[87]

Financial Performance - The company reported a significant increase in revenue for 2019, reaching a total of HKD 500 million, representing a 15% growth compared to the previous year[5]. - The group’s profit attributable to shareholders decreased by 41% to HKD 279,042,000, compared to HKD 471,213,000 in the previous year[46]. - Core profit, excluding property revaluation gains, fell by 13% to HKD 51,162,000, down from HKD 59,067,000[46]. - Total revenue increased by 15% to HKD 142,275,000, up from HKD 123,515,000 in the previous year[46]. - The company reported a core profit of HKD 51,162,000, down from HKD 59,067,000 in 2018, indicating a decline of about 13.5%[28]. - Total revenue for warehouse operations reached HKD 24,411,000 in 2019, a decrease from HKD 31,816,000 in 2018[28]. - Shareholders' profit from warehouse operations was HKD 8,526,000, down from HKD 10,754,000 in the previous year[28]. Dividends and Shareholder Returns - The board has approved a special dividend of HKD 0.10 per share, reflecting a commitment to returning value to shareholders[5]. - The proposed final dividend is HKD 0.12 per share, totaling HKD 16,200,000, alongside a special dividend of HKD 0.88 per share, totaling HKD 118,800,000[34]. - The company paid an interim dividend of HKD 0.28 per share totaling HKD 37,800,000 and proposed a final dividend of HKD 0.12 per share totaling HKD 16,200,000 for the year[4]. - The total reserves available for distribution to shareholders as of March 31, 2019, were HKD 1,183,083,000, down from HKD 1,259,134,000 in 2018[4]. Market Expansion and Strategy - The company provided a positive outlook for 2020, projecting a revenue growth of 10% to 15% based on current market trends and expansion strategies[5]. - The company plans to expand its market presence by entering two new regions in Asia, aiming for a 25% increase in market share by the end of 2020[5]. - A strategic acquisition of a smaller logistics firm is in progress, expected to enhance operational capabilities and increase overall efficiency by 30%[5]. - New product development initiatives are underway, with an investment of HKD 50 million allocated for research and development in innovative logistics solutions[5]. Operational Efficiency and Cost Management - The company has implemented new technology solutions to improve supply chain management, which is anticipated to reduce operational costs by 10%[5]. - The average return on equity was 5.9%, a decrease from 10.74% in the previous year[28]. - Operating expenses decreased by 9% to HKD 23,755,000 from HKD 26,123,000 in 2018, while employee costs rose to HKD 15,493,000 from HKD 12,821,000[58]. - The depreciation expense rose by 73% to HKD 16,283,000, primarily due to the reclassification of certain warehouse space from investment property to owner-occupied[58]. Corporate Governance - Management emphasized the importance of maintaining strong corporate governance practices to ensure long-term growth and stability[5]. - The board is responsible for monitoring the overall strategy and financial performance of the group, ensuring good corporate governance and compliance with relevant codes[84]. - The board consists of one executive director, one non-executive director, and three independent non-executive directors, ensuring effective impartial judgment[82]. - The board has established two committees: the remuneration and nomination committee and the audit committee, with clearly defined responsibilities[91]. Sustainability and Corporate Social Responsibility - The company is focusing on sustainability initiatives, with a target to reduce carbon emissions by 15% over the next three years[5]. - The company emphasizes the importance of corporate social responsibility and sustainable development, actively engaging employees in various charitable activities[139]. - The company has been awarded the "Caring Company" logo by the Hong Kong Council of Social Service for over 15 consecutive years, highlighting its dedication to social welfare[140]. - The company has implemented energy-saving measures and recycling programs in its offices to promote environmental protection[139]. Risk Management - The group is subject to financial risks related to interest rates, foreign currencies, stock prices, liquidity, and credit, which are closely monitored[68]. - The board is responsible for ensuring a robust and effective risk management and internal control system, recognizing that business risks are inevitable but manageable[113]. - Major risks are identified through a questionnaire survey conducted by senior management across departments, focusing on strategic, operational, financial, and compliance risks[115]. - An internal audit function has been established to review the internal control system, with a three-year audit plan approved by the board[121]. Employee Engagement and Welfare - Employee compensation is reviewed annually based on market trends and company performance, with competitive packages including mandatory provident fund and medical insurance[164]. - The company provides various employee benefits, including paid leave for annual, sick, maternity, and examination leave, ensuring employee well-being is prioritized[164]. - Continuous support for employee training and development is provided, including onboarding, technical seminars, and financial assistance for further education[169]. - The company emphasizes improving employee satisfaction and work-life balance through regular activities and communication initiatives[166].