Financial Performance - The company's annual profit for the year ending March 31, 2024, was HKD 55,871,825, a significant increase from HKD 29,027,941 in the previous year, representing an increase of 92.5%[3] - Total comprehensive income for the year was HKD 72,494,147, compared to HKD 12,532,755 in the previous year, marking a substantial increase of 478.5%[3] - Basic and diluted earnings per share increased to HKD 25.0 from HKD 12.3, representing a growth of 103.3%[6] - The total comprehensive income attributable to the company's owners was HKD 73,261,335, compared to HKD 11,993,968 in the previous year, showing an increase of 510.5%[3] - The annual profit attributable to the year was HKD 55,871,825, compared to HKD 29,027,941 in the previous year, representing an increase of 92.5%[42] - The group reported a profit attributable to shareholders of HKD 56.4 million, an increase of HKD 28.6 million or 103.0% from HKD 27.8 million in the previous fiscal year, primarily due to net gains from an associated company of approximately HKD 262.6 million[138] Revenue and Sales - Revenue for the year was HKD 192,687,470, down from HKD 238,533,661 in the previous year, indicating a decrease of 19.2%[6] - The total revenue for the year ended March 31, 2024, was HKD 128,249,430, with a cost of sales amounting to HKD 128,239,013, resulting in a gross profit margin of approximately 0.01%[20] - Revenue from external customers in Hong Kong decreased to HKD 50,615,963 from HKD 57,403,498, a decline of 14.4%[44] - The total revenue from Sequin Developments was HKD 3,035,189 in 2024, down from HKD 7,856,087 in 2023, indicating a decrease of approximately 61.4%[100] - The production and distribution of plastic packaging materials reported revenue of HKD 166.6 million, a decline of HKD 46.7 million or 21.9% from HKD 213.3 million in the previous year, despite an increase in profit to HKD 21.8 million, up 6.5%[130] Assets and Liabilities - Non-current assets increased significantly to HKD 1,348,024,207 from HKD 1,169,561,797, representing a growth of approximately 15.25%[24] - Current assets decreased to HKD 287,295,861 from HKD 359,458,831, indicating a decline of about 20.06%[24] - The total liabilities decreased from HKD 1,182,323,274 to HKD 1,465,248,868, showing an increase of approximately 24.00%[25] - The net asset value increased to HKD 1,145,715,926 from HKD 1,079,984,380, which is an increase of about 6.09%[25] - The group's total assets related to trade and other receivables reached HKD 101,584,637 in 2024, up from HKD 96,587,097 in 2023, marking an increase of approximately 5.2%[68] Investment and Fair Value Changes - The company reported a loss from the fair value changes of investment properties amounting to HKD 193,949,870, compared to a profit of HKD 13,387,663 in the previous year[6] - The company's investment properties reported a fair value change loss of HKD 193,949,870, indicating significant market challenges[42] - The group reported a loss of HKD 26.3 million from the deemed disposal of part of its investment in Titan Dragon, reducing its stake from 33.22% to 28%[164] Expenses and Costs - The financial costs for the year were HKD 18,078,407, an increase from HKD 9,752,381 in the previous year, indicating an increase of 85.5%[6] - Total income tax expense for the year 2024 amounted to HKD 4,351,477, an increase from HKD 2,946,454 in 2023, reflecting a significant rise of approximately 47.8%[61] - The cost of sold inventory decreased to HKD 102,415,839 in 2024 from HKD 139,756,081 in 2023, representing a reduction of approximately 26.7%[78] - Direct operating expenses for rental income were HKD 2,135,743 in 2024, down from HKD 2,390,599 in 2023, a decrease of about 10.7%[78] Operational Changes - The company has suspended hotel operations since June 1, 2020, for renovations and expansions, impacting revenue generation[22] - Major renovations and expansion works at the Hua Guo Hotel are ongoing, with the upper structure completed in October 2023 and expected to obtain occupancy permits by Q3 2024[143] - The hotel operations segment has not generated any revenue since June 1, 2020, due to ongoing renovations and expansion[128] Corporate Governance and Strategy - The company has adopted the corporate governance code as per the listing rules, with the chairman and CEO roles currently held by the same individual, which the board believes does not compromise the balance of power[173] - The audit committee, consisting of four independent non-executive directors and two non-executive directors, reviewed the group's financial reporting procedures and risk management for the fiscal year ending March 31, 2024[177] - The company plans to cautiously review and adjust its business strategies in light of ongoing geopolitical uncertainties[142] Employee and Workforce - The group had 244 employees as of March 31, 2024, down from 270 in 2023, with compensation determined based on job nature and market conditions[165]

Financial Performance - Revenue for the six months ended September 30, 2023, was HKD 99,223,674, a decrease of 28.3% compared to HKD 138,385,192 in the same period last year[8] - Gross profit for the same period was HKD 32,328,359, down 22.4% from HKD 41,637,613 year-on-year[8] - The profit attributable to owners of the company increased to HKD 5,663,003, representing a 49.1% increase from HKD 3,798,830 in the previous year[11] - Basic and diluted earnings per share rose to HKD 2.5, up from HKD 1.7, reflecting a 47.1% increase[11] - The company’s net profit for the six months ended September 30, 2023, was HKD 5,663,003, compared to HKD 3,798,830 for the same period in 2022, reflecting a year-on-year increase of 49.2%[21] - Total revenue for the six months ended September 30, 2023, was HKD 99,223,674, a decrease of 28.3% compared to HKD 138,385,192 for the same period in 2022[48] - Revenue from the sale of goods was HKD 85,607,141, down 30.8% from HKD 123,657,078 in the previous year[48] - The company reported a loss of HKD 3,954,829 in the plastic packaging materials segment, an increase in loss from HKD 2,393,214 in the previous year[40] Assets and Liabilities - Total assets as of September 30, 2023, amounted to HKD 1,201,432,680, an increase from HKD 1,169,451,276 as of March 31, 2023[17] - The total assets of the company as of September 30, 2023, were HKD 1,473,079,165, a decrease from HKD 1,528,910,107 as of March 31, 2023[41] - The company’s total liabilities decreased to HKD 159,914,166 from HKD 346,697,354, reflecting improved financial health[17] - The total liabilities decreased to HKD 394,395,783 from HKD 447,535,150 as of March 31, 2023[41] - The total liabilities, including bank loans, amounted to HKD 234,481,617 as of September 30, 2023, compared to HKD 100,837,796 as of March 31, 2023, indicating a significant increase in liabilities[18] - The company’s reserves decreased from HKD 825,411,864 as of March 31, 2023, to HKD 824,058,056 as of September 30, 2023, a decline of approximately 0.16%[21] Cash Flow and Liquidity - Cash and cash equivalents decreased to HKD 50,652,347 from HKD 98,218,450, indicating a significant reduction in liquidity[17] - Cash generated from operating activities for the six months ended September 30, 2023, was HKD 30,886,122, down from HKD 49,506,690 in the previous year, representing a decrease of 37.7%[24] - The cash and cash equivalents at the end of the period were HKD 50,652,347, down from HKD 98,218,450 at the beginning of the period, reflecting a decrease of 48.6%[24] - The current ratio improved to 1.7 as of September 30, 2023, compared to 1.0 as of March 31, 2023[91] Strategic Focus and Future Plans - The company plans to focus on market expansion and new product development to drive future growth[8] - The company continues to focus on property investment and development, as well as the production and distribution of plastic packaging materials, indicating ongoing strategic priorities in these sectors[27] - The company adopts a cautious approach to business development amid economic uncertainties, focusing on cost-effective strategies and prudent financing[106] Shareholder Information and Governance - As of September 30, 2023, major shareholders include Jun Yun International Limited with 59,435,758 shares (26.37%) and Xin Long Investment Limited with 38,234,000 shares (16.96%) [113] - The board of directors and the CEO held no short positions in the company or its associated entities as of September 30, 2023 [114] - The audit committee, consisting of four independent non-executive directors, reviewed the interim performance before board approval [118] - The board is composed of both executive and non-executive directors, ensuring a diverse governance structure [123] Investment and Development Activities - The company completed a renovation project converting five traditional office floors into serviced office units under the WorkCave Hong Kong brand in June 2023, expected to significantly increase revenue[98] - A subsidiary submitted a land-sharing pilot scheme application for redevelopment into residential units and an elderly care home, proposing a total gross floor area of approximately 60,000 square meters with 1,212 new housing units[98] - The hotel division is undergoing significant renovations, with the upper structure completed in October 2023 and expected to obtain occupancy permits by Q2 2024[101] Other Financial Metrics - The total income tax expense for the period was HKD 1,296,748, a decrease of 34.5% from HKD 1,975,099 in the prior year[54] - The estimated interest expense for bank loans rose to HKD 3,667,749, up 12.2% from HKD 3,269,794 in the previous year[54] - The total compensation paid to key management personnel was HKD 7,050,050 for the six months ended September 30, 2023, down from HKD 9,954,022 for the same period in 2022, a decline of 29.1%[77]

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,並明確表示概不會就因本公佈 全部或任何部分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。 SOUTHEAST ASIA PROPERTIES & FINANCE LIMITED 華信地產財務有限公司 (於香港註冊成立之有限公司) (股份代號:252) 截至二零二三年九月三十日止六個月 中期業績公告 中期業績 華信地產財務有限公司(「本公司」)董事(「董事」)會(「董事會」)欣然宣佈,本 公司及其附屬公司(「本集團」)截至二零二三年九月三十日止六個月(「本報告 期間」)未經審核之簡明綜合財務報告,連同二零二二年同期(「上一個報告期間」) 之比較數字如下: – 1 – 簡明綜合損益表 截至二零二三年九月三十日止六個月 | | | 截至九月三十日止六個月 | | |-----------------------------------|------|--------------------------|--------------| | | | 二零二三年 | 二零二二年 | | | | 港元 | ...

Financial Performance - The company reported a significant increase in revenue for the fiscal year 2022/23, with total revenue reaching HKD 1.2 billion, representing a 15% growth compared to the previous year[1]. - The company's revenue for the fiscal year ending March 31, 2023, was HKD 238,500,000, a decrease of HKD 35,900,000 or 13.1% compared to HKD 274,400,000 in the previous year[29]. - Profit attributable to shareholders increased to HKD 29,200,000, up HKD 2,700,000 or 10.2% from HKD 26,500,000 in the prior fiscal year[29]. - The group's pre-tax profit for the year was HKD 33,600,000, compared to HKD 30,900,000 in the previous year[23]. - The group recorded an operating loss of HKD 10,000,000 for the year, compared to an operating profit of HKD 10,600,000 in the previous year[36]. Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 12%[1]. - New product launches are expected to contribute an additional HKD 200 million in revenue, with a focus on sustainable building materials[1]. - The company is expanding its market presence in Southeast Asia, targeting a 25% increase in market share over the next three years[1]. - A strategic acquisition of a local construction firm is anticipated to enhance operational capabilities and is expected to close by Q3 2023[1]. Research and Development - Research and development expenses increased by 30%, reflecting the company's commitment to innovation and new technology[1]. - The company plans to implement a new digital platform aimed at improving customer engagement and operational efficiency, with an expected launch in Q4 2023[1]. Environmental, Social, and Governance (ESG) Initiatives - The company is focusing on enhancing its environmental, social, and governance (ESG) initiatives, aiming for a 50% reduction in carbon emissions by 2025[1]. - The company reported a total greenhouse gas emissions of 5,182.01 tons CO2 equivalent for the reporting period, a decrease of 4.5% from 5,426.49 tons in the previous year[199]. - The company installed a real-time energy management system to measure energy consumption and identify energy-saving opportunities[192]. - The company has implemented energy visualization LCD panels at its facilities to promote energy education among employees[192]. Corporate Governance - The company has maintained compliance with corporate governance codes throughout the fiscal year, ensuring transparency and accountability[57]. - The board of directors held eight meetings during the year, with attendance records indicating active participation from members[62]. - The company has established a remuneration committee consisting of three independent non-executive directors, one executive director, and one non-executive director, with the committee having held one meeting during the fiscal year ending March 31, 2023[75]. - The company emphasizes the importance of diversity in its board composition, considering factors such as gender, age, cultural background, and professional experience during the nomination process[81]. Risk Management - The company emphasizes the importance of effective risk management for long-term growth and sustainability, integrating it into strategic, operational, and financial management[95]. - The company has implemented a risk management strategy that evaluates 16 different risk categories affecting financial performance, reputation, health and safety, legal compliance, and business objectives[102]. - The credit risk level is assessed as medium, with measures including the establishment of a credit committee to formulate credit policies and approval processes[104]. - The company has established internal controls for regular independent reviews to ensure adherence to established policies and credit limits[104]. Employee and Workforce Management - The total number of employees as of March 31, 2023, was 270, down from 278 in the previous year[144]. - As of March 31, 2023, the company had 175 male employees and 95 female employees, resulting in a gender ratio of approximately 1.84, which is an improvement from 1.75 as of March 31, 2022[84]. - The board currently consists of 11 members, with 1 female director, representing about 9.09% female representation[83]. Financial Position - The net current assets of the group as of March 31, 2023, were HKD 12,800,000, a significant improvement from a net current liability of HKD 52,900,000 in the previous year[47]. - The cash and cash equivalents as of March 31, 2023, were HKD 98,200,000, up from HKD 83,500,000 in the previous year[47]. - The net debt-to-equity ratio for the year was 16.9%, down from 23.6% in 2022, primarily due to a reduction in bank loans and an increase in cash and cash equivalents[48]. Shareholder Returns - The board has approved a dividend payout of HKD 0.05 per share, maintaining a stable return for shareholders[1]. - The company proposed a final dividend of HKD 0.03 per share for the year ended March 31, 2023, consistent with the previous year[136]. - The available reserves for distribution as of March 31, 2023, amounted to HKD 339,815,377, an increase from HKD 292,731,849 in the previous year[145]. Market and Competition - The company faces significant competition in its operational segments, with a medium risk level, necessitating close monitoring of market competition[107]. - Marketing efforts have been strengthened to attract customers in response to changing consumer behavior, aiming to prevent revenue shrinkage[11].

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,並明確表示概不對因本公佈全部或任何部分內容而產生或因 依賴該等內容而引致之任何損失承擔任何責任。 SOUTHEAST ASIA PROPERTIES & FINANCE LIMITED 華信地產財務有限公司 (於香港註冊成立之有限公司) (股份代號:252) 截至二零二三年三月三十一日止年度 全年業績 華信地產財務有限公司(「本公司」)董事會(「董事會」)欣然宣佈本公司及其附 屬公司(統稱「本集團」)截至二零二三年三月三十一日止年度之經審核綜合業 績如下: – 1 – 綜合損益表 截至二零二三年三月三十一日止年度 | | 附註 | 二零二三年 | 二零二二年 | |---------------------------------------|----------|----------------|-------------------------| | | | 港元 | 港元 | | 收入 | 5 | 238,533,661 | 274,414,996 | | 銷售成本 | | (169,036,6 ...

Financial Performance - For the six months ended September 30, 2022, the company reported revenue of HKD 138,385,192, an increase from HKD 124,659,453 in the same period last year, representing a growth of approximately 11.5%[15] - The gross profit for the same period was HKD 41,637,613, slightly up from HKD 41,014,735, indicating a marginal increase of 1.5%[15] - The company recorded a pre-tax profit of HKD 6,510,506, a significant decrease from HKD 54,653,145 in the previous year, reflecting a decline of approximately 88.1%[18] - The net profit attributable to the company's owners was HKD 3,798,830, down from HKD 51,222,830, marking a decrease of about 92.6%[18] - The basic and diluted earnings per share for the period were HKD 1.7, compared to HKD 22.7 in the previous year, a decline of approximately 92.5%[18] - The total comprehensive income for the period was a loss of HKD 10,272,346, compared to a comprehensive income of HKD 53,962,016 in the previous year, reflecting a significant decline[20] Revenue Segments - The group's revenue from property investment, development, and leasing/hotel operations for the six months ended September 30, 2022, was HKD 138,385,892[47] - The revenue from the production and distribution of plastic packaging materials for the same period was HKD 124,659,453[47] - Revenue from goods sales was HKD 123,657,078, up from HKD 107,599,251, reflecting a growth of approximately 15%[61] - The plastics packaging materials segment reported revenue of HKD 123,700,000, an increase of HKD 16,100,000 compared to HKD 107,600,000 in the previous period[130] Expenses and Costs - The cost of goods sold for the period was HKD 80,912,034, compared to HKD 67,064,434 in the previous year, reflecting an increase of about 21%[72] - Total finance costs increased to HKD 3,506,426 from HKD 2,372,633, marking a rise of approximately 48%[68] - Administrative expenses rose to HKD 28,011,764 from HKD 24,877,100, an increase of approximately 8.6%[15] Cash Flow and Liquidity - The net cash generated from operating activities for the six months ended September 30, 2022, was HKD 49,506,690, a significant recovery from a cash outflow of HKD 35,387,695 in the same period last year[30] - The net decrease in cash and cash equivalents for the six months ended September 30, 2022, was HKD 17,365,258, compared to a much larger decrease of HKD 96,590,694 in the prior year[30] - The company's cash and cash equivalents were HKD 61,000,000 as of September 30, 2022, down from HKD 83,500,000 as of March 31, 2022[134] Assets and Liabilities - As of September 30, 2022, total assets amounted to HKD 1,150,685,174, compared to HKD 1,144,156,496 as of March 31, 2022, reflecting a slight increase of 0.5%[23] - The company's total liabilities decreased from HKD 486,245,530 as of March 31, 2022, to HKD 340,370,026 as of September 30, 2022, indicating a reduction of approximately 30%[23] - The carrying value of the group's trade and other receivables was HKD 105,627,949 as of September 30, 2022, down from HKD 154,769,751 as of March 31, 2022, indicating a decrease of 31.7%[90] Equity and Shareholder Information - The total equity attributable to owners of the company was HKD 1,053,756,492 as of September 30, 2022, compared to HKD 1,063,882,292 as of March 31, 2022, reflecting a decline of approximately 1%[25] - Major shareholders include Junyun International Limited with 26.37% ownership (59,435,758 shares) and Xinlong Investment Limited with 16.60% ownership (37,416,000 shares) as of September 30, 2022[161] - The company did not recommend any interim dividend for the reporting period, consistent with the previous year[73] Operational Insights - The group is divided into three operational segments: property investment and hotel operations, production and distribution of plastic packaging materials, and brokerage and securities financing[44] - The company is adopting a cautious approach to business development to mitigate risks and maintain healthy growth amid current market instability[141] - The group anticipates stable rental income from its diversified property portfolio despite global economic uncertainties, including inflation and geopolitical tensions[141] Risk Management - The company will continue to monitor foreign exchange risks closely and consider hedging strategies when significant risks arise[136] - The International Monetary Fund (IMF) has downgraded its economic growth forecast for the coming year, reflecting concerns over rising inflation and potential recession[146] Employee and Management Information - The group currently has 272 employees as of September 30, 2022, down from 278 on March 31, 2022[139] - The total remuneration for key management personnel increased from HKD 5,294,974 in the previous year to HKD 9,954,022, representing an increase of approximately 88.5%[113]

Financial Performance - The company reported a total revenue of HKD 1.2 billion for the fiscal year 2021/22, representing a 15% increase compared to the previous year[3]. - The net profit for the year was HKD 300 million, which is a 20% increase year-over-year[3]. - The company's revenue for the year ended March 31, 2022, was HKD 274,400,000, an increase of HKD 14,100,000 or 5.4% compared to HKD 260,300,000 for the previous year[22]. - Profit attributable to owners of the company was HKD 26,500,000, a significant increase of HKD 20,200,000 or 323.1% from HKD 6,300,000 in the previous year[22]. - The group's operating profit was HKD 42,256,000, up from HKD 29,796,000 in the previous year[22]. - The investment property fair value gain was HKD 18,709,000, compared to a loss of HKD 47,586,000 in the previous year[22]. - The revenue from property investment, development, and leasing/hotel operations was HKD 12,300,000, a decrease of HKD 4,200,000 or 25.4% from HKD 16,500,000 in the previous year[32]. - The production and distribution of plastic packaging materials recorded revenue of HKD 242,600,000, an increase of HKD 18,000,000 or 8.0% from HKD 224,600,000 in the previous year[36]. - The profit from the production and distribution of plastic packaging materials decreased by HKD 10,200,000 or 31.2% to HKD 22,400,000 from HKD 32,600,000 in the previous year[36]. Future Projections - The company has projected a revenue growth of 10% for the next fiscal year, targeting HKD 1.32 billion[3]. - New product launches are expected to contribute an additional HKD 100 million in revenue in the upcoming year[3]. Market Expansion and Strategy - The company is expanding its market presence in Southeast Asia, with plans to open three new offices by the end of 2023[3]. - A strategic acquisition of a local competitor is anticipated to enhance market share by 15%[3]. Operational Efficiency and Investments - Investment in technology development increased by 30%, totaling HKD 150 million for the year[3]. - The company aims to improve operational efficiency, targeting a 5% reduction in costs through new automation technologies[3]. Dividends and Shareholder Returns - The board has approved a dividend payout of HKD 0.05 per share, reflecting a 10% increase from the previous year[3]. - The board proposed a final dividend of HKD 0.03 per ordinary share, consistent with the previous year's dividend[23]. - The board has considered various factors, including operational performance and financial condition, when proposing dividends to shareholders[144]. Corporate Governance - The company has adopted the corporate governance code as per the listing rules and has complied with it throughout the financial year[60]. - The company encourages continuous professional development for directors to ensure informed contributions to the board[71]. - The chairman also serves as the CEO, which deviates from the code's recommendation for separate roles[72]. - The company has established procedures for directors to seek independent professional advice at the company's expense[67]. - The company has three committees: Audit Committee, Remuneration Committee, and Nomination Committee, to oversee specific matters[64]. - The audit committee conducted four meetings during the year and ensured compliance with corporate governance policies and regulations[95]. - The company has established a nomination committee to consider suitable candidates for board membership, ensuring compliance with listing rules[82]. - The audit committee is responsible for recommending the appointment and remuneration of external auditors to the board[95]. Risk Management - The company emphasized the importance of effective risk management for long-term growth and sustainability, integrating it into strategy, operations, and financial management[103]. - The risk management process evaluated 16 different categories of risks affecting financial performance, reputation, health and safety, legal compliance, and personnel allocation[111]. - The company identified investment strategy risks due to uncontrollable external factors, with a medium risk level, and implemented thorough due diligence for potential projects[111]. - Economic and political outlook risks were assessed as medium, with ongoing evaluations of the operating environment in Hong Kong and China to respond to any changes[111]. - The company is committed to maintaining robust internal controls to prevent significant misstatements due to fraud or error[101]. - The board of directors is responsible for preparing financial reports that reflect a true and fair view, supported by necessary internal controls[101]. Financial Position and Liabilities - The group's net current liabilities amounted to HKD 52,900,000 as of March 31, 2022, compared to net current assets of HKD 204,500,000 in the previous year[51]. - Cash and cash equivalents decreased to HKD 83,500,000 from HKD 159,600,000 in the previous year[51]. - The group's bank borrowings increased to HKD 337,200,000 from HKD 275,200,000 in the previous year[51]. - The net debt-to-equity ratio rose to 23.5% from 10.7% in the previous year[51]. Employee and Community Engagement - The group employed 278 staff members as of March 31, 2022, a decrease from 291 in the previous year, indicating a reduction of about 4.5% in workforce size[160]. - The group reported charitable donations of HKD 17,000 for the year, a significant increase from HKD 2,000 in the previous year[153]. Compliance and Regulatory Engagement - The company actively engages with regulatory bodies and external advisors to stay updated on new laws and regulations[120]. - The company has established clear policies and procedures for reporting misconduct and insider information, ensuring compliance with applicable laws[133]. - The company does not currently have an internal audit function due to the scale and complexity of its operations, relying instead on external auditors for independent reviews[137]. Supplier and Customer Relations - The largest supplier accounted for 38% of the group's purchases, while the top five suppliers collectively represented 84% of total purchases[167]. - The largest customer contributed 15% to the group's sales, with the top five customers making up 41% of total sales[168]. - The group is committed to enhancing relationships with customers and suppliers to improve overall performance[168].

Financial Performance - Revenue for the six months ended September 30, 2021, was HKD 124.66 million, a slight decrease of 1.03% compared to HKD 126.96 million in the same period last year[17]. - Gross profit for the same period was HKD 41.01 million, down 9.8% from HKD 45.20 million year-on-year[17]. - The company reported a profit before tax of HKD 54.65 million, a significant recovery from a loss of HKD 18.11 million in the previous year[19]. - Net profit for the period was HKD 52.29 million, compared to a loss of HKD 22.27 million in the same period last year[19]. - Basic and diluted earnings per share were HKD 22.7, a turnaround from a loss of HKD 9.8 per share in the previous year[19]. - Total revenue for the six months ended September 30, 2021, was HKD 124,659,453, a decrease from HKD 126,964,535 in the same period last year, representing a decline of approximately 1.8%[64]. - Revenue from customer contracts, including product sales and hotel accommodation, amounted to HKD 107,599,251, compared to HKD 107,292,171 in the previous year, indicating a slight increase of 0.3%[64]. - The company reported a profit of HKD 51,046,782, compared to a loss of HKD 33,470,689 in the previous period, indicating a significant turnaround[64]. - The company reported a profit attributable to owners of HKD 51,222,830 for the current period, compared to a loss of HKD 22,164,354 in the previous period[78]. Assets and Liabilities - Total assets as of September 30, 2021, amounted to HKD 1.17 billion, an increase from HKD 1.03 billion as of March 31, 2021[24]. - Current assets increased to HKD 408.74 million from HKD 453.32 million, reflecting a decrease in cash and cash equivalents[24]. - The company’s total liabilities were HKD 293.10 million, up from HKD 248.87 million, indicating increased financial obligations[24]. - As of September 30, 2021, the net current assets decreased to HKD 115,634,285 from HKD 204,453,904 as of March 31, 2021, representing a decline of approximately 43.5%[26]. - The company’s liabilities increased to HKD 474,081,252 from HKD 433,510,398, representing an increase of about 9.4%[53]. - The company’s total assets as of September 30, 2021, were HKD 1,577,253,033, compared to HKD 1,482,720,163, reflecting an increase of about 6.4%[53]. - The company’s total equity increased to HKD 1,103,171,781 from HKD 1,049,209,765, reflecting an increase of about 5.2%[26]. - The company’s equity attributable to owners increased to HKD 1,090,809,524 from HKD 1,038,005,257, marking an increase of about 5.1%[26]. Cash Flow and Investments - The net cash generated from operating activities was negative at HKD (35,387,695), compared to a positive cash flow of HKD 9,709,879 in the previous year[30]. - Cash and cash equivalents at the end of the period decreased to HKD 63,241,985 from HKD 112,425,413, indicating a reduction of approximately 43.7%[30]. - The company reported a net cash outflow from investing activities of HKD (96,368,139), compared to HKD (18,701,549) in the previous year, indicating a significant increase in investment expenditures[30]. - The company’s cash flow from financing activities generated HKD 35,165,140, compared to HKD 17,433,245 in the previous year, indicating a significant increase in financing activities[30]. - The company acquired property, plant, and equipment amounting to HKD 8,211,907 during the reporting period, significantly higher than HKD 2,611,404 in the previous period[79]. Market and Operational Insights - The company plans to continue exploring market expansion opportunities and enhancing its product offerings in the upcoming periods[17]. - The company operates in three segments: property investment and development, plastic packaging production and distribution, and securities brokerage and financing[43]. - The hotel upgrade project is expected to be completed in Q2 2024, increasing the number of rooms and commercial area to boost future accommodation and rental income[149]. - The company will continue to modernize manufacturing facilities and focus on promoting environmentally friendly alternatives in response to new waste management regulations in Hong Kong[150]. - The company will regularly review and adjust its financing strategies in response to market conditions, particularly concerning interest rate hikes and inflation risks[151]. Corporate Governance - The board of directors consists of both executive and independent non-executive members, ensuring a clear division of responsibilities and independent operation[158]. - The company has complied with the corporate governance code, with the roles of chairman and CEO held by the same individual, which the board believes does not compromise the balance of power[158]. - The audit committee, composed of four independent non-executive directors, reviewed the interim results before approval by the board[168]. - The company has adopted the standard code for securities transactions by directors, and all directors have complied with its provisions[155]. - The company has not reported any short positions in its shares as of September 30, 2021[167]. Shareholder Information - As of September 30, 2021, major shareholders include Junyun International Limited with 56,216,000 shares (24.94%) and Xinlong Investment Limited with 36,962,000 shares (16.40%) of the company[165]. - The company’s major shareholders' interests are fully overlapping with the interests of the chairman, ensuring a concentrated ownership structure[165]. - The average number of ordinary shares outstanding remained stable at 225,420,034 shares for both periods[78].

Financial Performance - The company reported a revenue of 4.44 million for the fiscal year 2020/21, indicating a significant performance in its financial results[2]. - The group's revenue for the year was HKD 260,300,000, a decrease of HKD 64,600,000 or 19.9% compared to HKD 324,900,000 in the previous year[35]. - The profit attributable to the company's owners was HKD 6,300,000, a turnaround from a loss of HKD 185,700,000 in the previous year[35]. - The group's operating profit for the year was HKD 29,796,000, compared to an operating loss of HKD 162,713,000 in the previous year[30]. - The property investment, development, and leasing segment recorded a revenue of HKD 16,500,000, a significant decrease of HKD 19,800,000 or 54.5% from HKD 36,300,000 in the previous year[36]. - The hotel operations segment saw a drastic decline in accommodation revenue to HKD 500,000, down HKD 12,100,000 or 95.8% from HKD 12,600,000 in the previous year[39]. - The group recorded a pre-tax profit of HKD 17,323,000, compared to a pre-tax loss of HKD 178,915,000 in the previous year[30]. - The group achieved a one-time gain of HKD 53,407,000 from the sale of a subsidiary[30]. - The rental and rental-related income for the group was HKD 16,000,000, a decrease of HKD 7,700,000 or 32.5% from HKD 23,700,000 in the previous year[38]. - Revenue for the plastic packaging materials segment decreased by HKD 48,400,000 or 17.7% to HKD 224,600,000 for the year ended March 31, 2021, compared to HKD 273,000,000 for the previous year[40]. - Profit increased by HKD 8,900,000 or 37.4% to HKD 32,600,000, attributed to lower sales costs and government relief subsidies[40]. - The group's cash and cash equivalents increased to HKD 159,600,000 from HKD 103,400,000, primarily due to proceeds from the sale of a subsidiary[53]. - The net debt-to-equity ratio significantly decreased to 10.7% from 24.5%, reflecting cash used to repay bank loans from subsidiary sales[54]. - The company reported a final dividend of HKD 0.03 per share for the year ended March 31, 2021, consistent with the previous year[174]. - The company had a total available reserves of HKD 299,707,688 as of March 31, 2021, a slight decrease from HKD 303,412,905 in the previous year[183]. Corporate Governance - The board of directors includes experienced members with over 40 years in finance and property investment, enhancing the company's strategic direction[19]. - The independent non-executive directors bring extensive banking and financial experience, which supports the company's governance and oversight[22]. - The company is committed to enhancing its corporate governance practices, as reflected in its governance report[6]. - The company has adopted the corporate governance code as per the Stock Exchange Listing Rules, ensuring transparency and accountability[60]. - The board consists of ten members, with a balanced mix of executive and non-executive directors, and held eight meetings during the year[63]. - Attendance records for board meetings show that the chairman attended 8 out of 10 meetings, while other directors had varying attendance rates[64]. - The company has established three committees: Audit Committee, Remuneration Committee, and Nomination Committee, to oversee specific matters[63]. - The company encourages continuous professional development for directors to ensure informed contributions to the board[69]. - The chairman also serves as the CEO, which deviates from the guideline of separating these roles, but the board believes this structure does not harm the balance of power[70]. - No formal meetings were held between the chairman and independent non-executive directors during the year due to scheduling conflicts[72]. - One non-executive director and one independent non-executive director were unable to attend the annual general meeting held on August 28, 2020[73]. - The remuneration committee held one meeting during the year ending March 31, 2021, to review the overall remuneration policy and structure for directors and senior management[75]. - The audit committee conducted four meetings during the year and ensured all members had sufficient experience in reviewing consolidated financial reports[90]. - The external auditor's fees for audit services amounted to HKD 851,599 for the year ending March 31, 2021, compared to HKD 809,260 for the previous year[83]. - The company emphasizes the importance of board diversity as a key element in achieving strategic goals and sustainable development[82]. - The nomination committee reviewed the board's structure, size, and composition to ensure it possesses the necessary expertise and experience[79]. - The remuneration committee's responsibilities include determining specific remuneration for executive directors and senior management based on their roles within the group[75]. - The audit committee is responsible for reviewing the independence and effectiveness of the external auditor's procedures[91]. - The company regularly reviews director remuneration and compares it with other listed companies in Hong Kong[75]. - The nomination committee considers various factors, including integrity, relevant skills, and diversity when evaluating candidates for board positions[80]. - The company has established a written terms of reference for the audit committee to fulfill its corporate governance responsibilities[86]. - The audit committee reviewed the financial reports for the year ending March 31, 2021, and recommended the reappointment of the external auditor, Crowe (HK) CPA Limited, at the upcoming annual general meeting[96]. Risk Management - The company emphasizes the importance of effective risk management for long-term growth and sustainability, integrating it into strategic, operational, and financial management[99]. - The risk management framework includes a "top-down" and "bottom-up" approach to identify and manage significant risks across business units[100]. - The company identified 16 different risk categories affecting financial performance, reputation, health and safety, legal compliance, and achievement of business objectives[107]. - Credit risk management includes establishing a credit committee to formulate policies and approval procedures, ensuring timely actions on overdue accounts[110]. - The company faces liquidity risks due to settlement timing differences and actively manages liquidity to ensure sufficient funds for operations[110]. - The company maintains strict quality control to uphold its reputation built over 60 years, mitigating risks related to product defects[120]. - The company acknowledges the unpredictability of future order amounts from customers due to the nature of one-time purchase orders[121]. - The audit committee is tasked with reviewing the effectiveness of internal controls and risk management systems[99]. - The company has implemented risk mitigation measures, including active collaboration with regulatory bodies and external advisors to stay updated on new laws and regulations[135]. - The company has established a crisis management committee led by executive directors to manage potential reputational risks[145]. - The company has a detailed analysis process for equity investments to mitigate financial losses from price fluctuations[146]. - The company maintains a succession plan for key positions to address potential employee turnover in labor-intensive operations[135]. - The company has set up a robust internal control system to prevent financial losses and reputational damage from operational risks[138]. - The company has developed environmental protection policies to mitigate adverse impacts from daily operations[145]. - The company conducts regular reviews and updates of its policies and procedures to ensure their effectiveness in risk management[151]. - The company has implemented a whistleblowing policy to provide formal reporting channels for misconduct or fraud[152]. Business Development - The company is actively seeking business development opportunities, focusing on market expansion and new product development[19]. - The company is exploring potential mergers and acquisitions to strengthen its market position and expand its operational capabilities[19]. - The company aims to leverage its experienced management team to navigate future market challenges and opportunities[19]. - The company is closely monitoring market competition and taking appropriate responsive actions to maintain operational performance[127]. - The company actively engages in market promotion to attract customers and strengthen business relationships with current and potential tenants[135]. Employee and Stakeholder Relations - The company employed 291 staff as of March 31, 2021, down from 333 in the previous year[182]. - The company emphasizes the importance of maintaining good relationships with customers and suppliers for overall performance improvement[188]. - The company continues to focus on enhancing its overall performance through strategic relationships with key stakeholders[188]. - The company has a policy in place to closely monitor its customers and suppliers through regulations and policies[188]. - The company's major suppliers and customers accounted for 52% and 38% of total purchases and sales, respectively[187]. - The largest supplier accounts for a significant percentage of the group's purchases, with the top five suppliers collectively representing a substantial portion[188]. - The largest customer contributes a notable percentage to the group's sales, while the top five customers together account for a significant share[188].

Financial Performance - Revenue for the six months ended September 30, 2020, was HKD 126,964,535, a decrease of 31.9% compared to HKD 186,399,695 for the same period in 2019[15] - Gross profit for the same period was HKD 45,203,115, down from HKD 52,380,499, reflecting a gross margin decline[15] - The company reported a loss before tax of HKD 18,108,409, an improvement from a loss of HKD 21,788,026 in the previous year[18] - The net loss attributable to the owners of the company was HKD 22,164,354, compared to HKD 25,715,844 in the prior year, indicating a reduction in losses[18] - The basic and diluted loss per share for the period was HKD 0.098, an improvement from HKD 0.114 in the same period last year[18] - The company reported a net increase in cash and cash equivalents of HKD 8,441,575 for the period, down from HKD 18,479,747 in the previous year, a decline of approximately 54%[29] - The company reported a loss of HKD 22,300,000, which is a reduction of HKD 2,900,000 or 11.5% from the previous loss of HKD 25,200,000[136] Assets and Liabilities - Total assets as of September 30, 2020, were HKD 1,047,325,846, a slight decrease from HKD 1,066,395,991 as of March 31, 2020[23] - Current liabilities increased to HKD 335,847,558 from HKD 301,366,312, indicating a rise in short-term financial obligations[23] - Total assets less current liabilities stood at HKD 1,207,767,735, down from HKD 1,229,747,930, indicating a decrease of about 1.8%[25] - The total equity as of September 30, 2020, was HKD 1,018,723,521, down from HKD 1,037,272,807 as of March 31, 2020, reflecting a decrease of approximately 1.8%[25] - The non-current liabilities, specifically bank loans, were HKD 173,948,110, slightly reduced from HKD 178,220,657, indicating a decrease of about 2%[25] - The total bank loans secured amounted to HKD 381,383,118 as of September 30, 2020, compared to HKD 359,094,466 as of March 31, 2020[113] Cash Flow - The net cash generated from operating activities for the six months ended September 30, 2020, was HKD 9,709,879, significantly lower than HKD 51,065,219 for the same period in 2019, representing a decline of approximately 81%[29] - The net cash used in investing activities was HKD (18,701,549), compared to HKD (3,035,845) in the previous year, showing a substantial increase in cash outflow[29] - The net cash generated from financing activities was HKD 17,433,245, a turnaround from a cash outflow of HKD (29,549,627) in the prior year[29] Revenue Breakdown - Revenue from external customers in Hong Kong was HKD 43,507,837, down from HKD 58,205,145 in 2019, indicating a decrease of about 25%[62] - Revenue from customer contracts, including goods sales, brokerage commissions, and hotel accommodation, amounted to HKD 112,999,534, down 33.5% from HKD 169,914,707 in the previous year[72] - The property investment, development, and leasing segment generated revenue of HKD 10,400,000, down HKD 10,400,000 or 49.9% from the previous period[137] - Hotel accommodation revenue fell to HKD 500,000, a significant drop of HKD 8,400,000 or 94.1% compared to HKD 9,000,000 in the previous period[139] Operational Focus - The company continues to focus on property investment, development, and hotel operations in Hong Kong and China, as well as the production and distribution of plastic packaging materials[32] - The company plans to focus on expanding its market presence and enhancing its product offerings in the upcoming quarters[48] - The company plans to upgrade its properties to capture significant returns in the future amid a challenging economic environment[153] - The hotel upgrade project aims to increase room numbers and commercial area size, expected to boost future accommodation revenue[154] - The company continues to modernize manufacturing facilities to enhance competitiveness amid ongoing challenges from the COVID-19 pandemic and the global "plastic reduction" movement[156] Governance and Compliance - Major shareholders include Jun Yun International Limited with 56,216,000 shares (24.94%) and Xin Long Investment Limited with 36,962,000 shares (16.40%) as of September 30, 2020[171] - The board of directors has ensured compliance with corporate governance codes, although the roles of chairman and CEO are held by the same individual[160] - The audit committee reviewed the interim results before approval by the board of directors[174] - The board of directors consists of 1 executive director and 8 non-executive directors, ensuring a diverse governance structure[181] Market Outlook - The company is optimistic about better performance in the financing business as the pandemic becomes more controllable and the global economy gradually recovers[157] - The company has adopted a cautious approach to guarantee financing, monitoring the situation closely as economic recovery remains uncertain[157]