Financial Performance - The company reported a loss attributable to equity holders of HKD 320,700,000 for the year ended March 31, 2024[4]. - Total revenue for the year was HKD 110,499,000, a significant increase from HKD 63,010,000 in the previous year, representing a growth of approximately 75%[5]. - The cost of sales increased to HKD 207,558,000 from HKD 104,111,000, leading to a gross loss of HKD 97,059,000 compared to a gross loss of HKD 41,101,000 in the prior year[5]. - The operating loss for the year was HKD 338,493,000, slightly higher than the previous year's loss of HKD 327,117,000[5]. - The company recorded a total comprehensive loss of HKD 476,030,000 for the year, compared to HKD 536,780,000 in the previous year[7]. - The company incurred finance costs of HKD 6,170,000, significantly lower than HKD 23,414,000 in the previous year[5]. - The net loss for the year 2024 was HKD (323,043,000), slightly improved from HKD (332,666,000) in 2023, reflecting a decrease in losses of about 2.9%[20]. - The company reported a net loss of HKD (57,329,000) in 2024, an improvement from HKD (65,822,000) in 2023, reflecting a reduction of about 12.7%[23]. Assets and Liabilities - The group's cash reserves totaled HKD 938,800,000, including HKD 18,700,000 in bond and securities investments, while bank borrowings amounted to HKD 652,300,000[4]. - Total assets decreased from HKD 4,616,443 thousand in 2023 to HKD 3,918,718 thousand in 2024, a decline of approximately 15.1%[10]. - Non-current assets decreased from HKD 2,378,190 thousand in 2023 to HKD 2,158,980 thousand in 2024, a decline of about 9.2%[9]. - Current assets decreased from HKD 3,001,217 thousand in 2023 to HKD 2,536,007 thousand in 2024, a decline of approximately 15.4%[9]. - Total liabilities decreased from HKD 762,964 thousand in 2023 to HKD 776,269 thousand in 2024, an increase of approximately 1.7%[10]. - Current liabilities increased slightly from HKD 244,015 thousand in 2023 to HKD 246,642 thousand in 2024, an increase of about 1.1%[9]. - Shareholders' equity decreased from HKD 3,904,986 thousand in 2023 to HKD 3,428,956 thousand in 2024, a decline of approximately 12.1%[10]. Revenue Breakdown - Revenue from sales operations amounted to HKD 49,723 thousand, while rental income was HKD 19,579 thousand, showing a decline from HKD 23,435 thousand in the previous year[17]. - Revenue from property development and investment in 2024 was HKD 69,302,000, a substantial increase from HKD 24,785,000 in 2023, representing a growth of approximately 179%[20]. - The revenue from the cemetery and administrative services segment in 2024 was HKD 18,307,000, compared to HKD 23,180,000 in 2023, showing a decline of approximately 21%[20]. - The sales revenue from cemetery assets in China decreased by 21.1% to approximately HKD 18.3 million, down from HKD 23.2 million in 2023, primarily due to a reduction in the number of graves sold[44]. Investments and Fair Value - The company holds a 61.15% stake in Profit Stability Investments Limited as of March 31, 2024[13]. - The company reported a decrease in investment properties from HKD 1,210,926 thousand in 2023 to HKD 1,062,744 thousand in 2024, a decline of about 12.2%[9]. - The fair value gain recognized in profit or loss was HKD 22,890 thousand, up from HKD 15,045 thousand, indicating a significant increase of approximately 52%[17]. - The fair value loss on investment properties in 2024 was HKD 76,084,000, compared to HKD 78,875,000 in 2023, indicating a slight improvement in losses of about 3.5%[20]. - The fair value loss from financial assets was HKD 167,200,000 in 2024, compared to HKD 117,400,000 in 2023, indicating an increase in losses of approximately 42.5%[23]. Operational Strategy and Future Outlook - The company plans to focus on improving operational efficiency and exploring new market opportunities to enhance future performance[3]. - The group continues to evaluate its business segments, including property development, investment, and cemetery operations, to optimize resource allocation[18]. - The company is seeking suitable opportunities to sell its investment properties to strengthen its financial position[56]. - The group maintains a cautious outlook on the global economic environment, particularly noting liquidity issues in China's real estate development sector[73]. - In Hong Kong, the group anticipates a gradual recovery in the real estate market due to government measures such as stamp duty relaxation and expected interest rate cuts[73]. Employee and Governance - As of March 31, 2024, the group employed 89 staff members and offers various employee benefits including discretionary bonuses and medical insurance[75]. - The audit committee has reviewed the financial reporting procedures and internal controls for the year ending March 31, 2024[77]. - The preliminary announcement of the group's performance for the year ending March 31, 2024, has been agreed upon by the auditors, confirming alignment with the financial report[79].

Financial Performance - Revenue for the period was approximately HKD 70,600,000, a significant increase from HKD 38,800,000 in 2022, reflecting a growth of 82%[4] - For the fiscal year ending September 30, 2023, the company reported revenue of HKD 70,601,000, a significant increase from HKD 38,808,000 in the previous year, representing an 81.9% growth[32] - Revenue from property sales for the six months ended September 30, 2023, was HKD 49,763,000, a significant increase from HKD 1,350,000 in the same period of 2022[76] - The group reported a revenue of HKD 70,601,000 for the six months ended September 30, 2023, compared to HKD 38,808,000 in the same period of 2022, representing an increase of approximately 82%[93] Losses and Impairments - The company reported a gross loss of HKD 47,300,000 due to impairment provisions for properties in Ap Lei Chau, Hong Kong, compared to a gross profit of HKD 27,800,000 in 2022[5] - The company anticipates further impairment provisions of approximately HKD 74,700,000 for property development projects due to declining market conditions and high interest rates[15] - The company incurred a gross loss of HKD 47,254,000 compared to a gross profit of HKD 27,790,000 in the prior year, indicating a shift in profitability[32] - The net loss attributable to equity holders was HKD 209,010,000, compared to HKD 187,284,000 in the previous year, reflecting a 11.5% increase in losses[32] - The group reported a loss of HKD 80,473,000 for the period, compared to a profit of HKD 47,000 in the previous year[80] - The group recognized a net loss of HKD 66,427,000 from other income and gains/losses, compared to a gain of HKD 9,401,000 in the prior period[95] - The group reported a significant impairment provision of HKD 74,731,000 for properties held for sale, highlighting potential risks in asset valuation[95] Cash and Assets - The company recorded a net cash balance of HKD 359,800,000 as of September 30, 2023, with a net asset value per share of HKD 1.47[4] - The company’s cash and cash equivalents decreased to HKD 1,058,057,000 from HKD 1,851,821,000, a decline of 43%[36] - Total assets less current liabilities stood at HKD 3,976,825,000, down from HKD 4,616,443,000, indicating a decrease of 13.9%[34] - As of September 30, 2023, the company held investments totaling HKD 162,500,000, with HKD 32,600,000 in listed company bonds[49] - The net asset value attributable to equity holders reached HKD 3,442,400,000, with a net asset value per share of HKD 1.47[51] - Total assets as of September 30, 2023, amounted to HKD 2,191,577,000, with total liabilities of HKD 1,023,472,000[95] Investments and Properties - The company holds approximately 19.35% equity in Beihai and 0.6% in Zhongqi, both listed on the Hong Kong Stock Exchange, focusing on real estate and paint manufacturing respectively[19] - The group completed the sale of a property in Dongguan, China, for approximately HKD 149,700,000, resulting in a loss of about HKD 45,700,000 during the reporting period[98] - The group’s investment properties in Hong Kong, China, and Malaysia provide stable and recurring rental income[186] - The group is actively seeking suitable opportunities to expand its investment property portfolio to increase stable income[193] - The group’s investment in listed company bonds is considering debt restructuring due to adverse market conditions in the Chinese real estate bond sector[199] Operational Challenges - The company reported a gross loss of HKD 47,300,000 due to impairment provisions for properties in Ap Lei Chau, Hong Kong, compared to a gross profit of HKD 27,800,000 in 2022[5] - Fair value changes in investment properties resulted in a loss of HKD 74,100,000, contrasting with a gain of HKD 400,000 in the previous year[5] - The group incurred capital expenditures of HKD 88,747,000 during the period, reflecting ongoing investments in property, plant, and equipment[95] - The group incurred capital expenditures of HKD 92,674,000 for property, plant, and equipment during the six months ended September 30, 2023, significantly higher than HKD 27,055,000 in 2022[112] Corporate Governance and Strategy - The group has established an audit committee to oversee financial reporting, risk management, and internal controls[57] - The group has not engaged in any buybacks or redemptions of its listed securities during the reporting period[59] - The group plans to adopt new accounting standards effective from April 1, 2024, but has not early adopted any revisions[71] - The company has implemented a new share option scheme effective from September 2, 2022, aimed at incentivizing eligible participants[30] Employee and Operational Metrics - Employee count as of September 30, 2023, was 105, with additional benefits provided including discretionary bonuses and medical insurance[31] - As of September 30, 2023, approximately 83.8% of the group's bank loans are due for repayment within the first year[52] - The group did not declare an interim dividend for the six months ended September 30, 2023, consistent with the previous year[110]

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。 截 至2023年9月30日 止 六 個 月 中 期 業 績 Chuang’s China Investments Limited（莊士中國投資有限公司）（「本公司」）董事會（「董 事會」）公佈本公司及其附屬公司（統稱「本集團」）截至2023年9月30日止六個月 之未經審核中期業績如下： 截至2023年9月30日止六個月要點 • 本公司權益持有人應佔虧損為209,000,000港元。 • 本集團於截至2023年9月30日錄得現金淨額359,800,000港元。本集團現金儲 備 總 額（包 括 債 券 投 資32,600,000港 元）為1,090,700,000港 元，銀 行 借 款 為 730,900,000港元。 • 每股資產淨值為1.47港元。 • 每股虧損為港幣8.91仙。 ...

Financial Performance - The company recorded a revenue of approximately HKD 63 million for the year ended March 31, 2023, a decrease of 69.1% compared to HKD 204.5 million in 2022[6]. - The net loss attributable to equity holders was HKD 328.7 million, compared to a profit of HKD 227.8 million in 2022, resulting in a loss per share of HKD 0.14[9]. - Cash reserves totaled HKD 1.34 billion, with net cash amounting to HKD 511.3 million as of March 31, 2023[5]. - Rental and management fee income decreased by 9.7% to approximately HKD 23.4 million, primarily due to reduced rental income from the sold property[7]. - The company reported a significant decrease in securities investment income, down 76.9% to approximately HKD 15 million, due to lower interest income from bond investments[7]. - Selling and promotional expenses decreased by 40.5% to approximately HKD 12.8 million, reflecting reduced sales activities[8]. - The board did not recommend a final dividend for the year, maintaining a prudent cash position amid an uncertain business environment[10]. - The company reported a significant increase in revenue for 2023, with a total of $1.2 billion, representing a 15% year-over-year growth[141]. - User data showed a growth in active users, reaching 5 million, which is a 20% increase compared to the previous year[141]. - The company provided guidance for the next fiscal year, projecting revenue growth of 10% to 12%[141]. Property and Investment Activities - The company completed the sale of a property in Dongguan, China, for approximately RMB 132.1 million (equivalent to HKD 149.7 million), enhancing its financial position[5]. - The company has contracted property sales of approximately EUR 5.7 million (equivalent to HKD 48.8 million), expected to be recognized as revenue in Q3 2023[11]. - The total valuation of the hotel and resort villas in Xiamen is approximately RMB 383.2 million, with the hotel valued at RMB 171.2 million and the villas at RMB 212 million[22]. - The commercial property in Dongguan has a valuation of RMB 36.4 million, with annual rental income of approximately RMB 800,000, equivalent to about HKD 900,000[28]. - The valuation of Chuang's Building in Kuala Lumpur has decreased to RM 162.8 million, with an annual rental income of RM 5.9 million, equivalent to about HKD 10.5 million[30]. - The company plans to seek suitable opportunities to expand its investment property portfolio to increase recurring and stable income[31]. - The property development project in Xian'an has recorded an impairment provision of approximately HKD 80.7 million due to market conditions and rising interest rates[34]. - The group holds a 69% interest in a property development project in Changsha, with a total investment cost of approximately HKD 24.6 million, currently undergoing voluntary liquidation due to weak market conditions[42]. Corporate Governance - The board of directors emphasized the importance of corporate governance and maintaining shareholder value[82]. - The board of directors consists of 9 members, including the chairman and vice-chairman, ensuring a balanced composition with relevant knowledge and experience related to the group's business[95]. - The company has implemented a new board diversity policy effective from January 1, 2019, recognizing the benefits of diversity in enhancing company performance[87]. - The nomination committee has established selection criteria for candidates, considering factors such as integrity, industry experience, and commitment to the company's affairs[91]. - The company has established a risk management system that includes a risk register detailing major enterprise-level risks, their potential outcomes, likelihood, impact, and overall risk ratings[118]. - The remuneration policy aims to provide competitive market-based salaries to attract, retain, and motivate talented employees, ensuring alignment with similar companies[110]. - The independent non-executive directors have confirmed their independence in accordance with the listing rules, ensuring governance integrity[105]. - The company has established a policy for communicating with shareholders to ensure informed exercise of rights and active communication with investors[132]. Employee Welfare and Development - As of March 31, 2023, the company employed a total of 104 employees, with 14 in Hong Kong, 76 in China, and 14 in other regions[182]. - The company provides competitive compensation and benefits, including paid leave beyond legal requirements, financial support for external training, and early retirement plans for eligible employees[183]. - The company emphasizes employee development through various training programs aimed at enhancing skills and knowledge, ensuring alignment with current business needs[189]. - The company actively promotes a culture of open communication and trust among employees, fostering a positive work environment[186]. - The company has adopted multiple health and safety initiatives since the COVID-19 pandemic, maintaining vigilance in monitoring the situation[187]. Sustainability and Environmental Initiatives - The group emphasizes sustainable development as a key factor in its growth strategy, integrating ESG considerations into business operations[160]. - The group has updated its major ESG issues based on stakeholder assessments, focusing on climate change, energy consumption, and carbon emissions[166]. - The group aims to enhance resource efficiency and adopt innovative solutions for sustainable urban development[167]. - The company has established strict policies to reduce greenhouse gas emissions and promote a responsible corporate culture towards environmental sustainability[172]. - The company recognizes extreme weather events, such as typhoons, as significant physical risks to its operations, particularly in Hong Kong and Xiamen, and has developed contingency plans[179]. - The company has integrated environmental considerations into its procurement processes, prioritizing the use of greener materials to minimize its carbon footprint[173]. Community Engagement and Corporate Social Responsibility - The group donated approximately HKD 1,225,000 to various organizations, including HKD 114,000 to support earthquake relief efforts in Sichuan Province[200]. - The group actively promotes volunteerism and community engagement as part of its corporate culture[200]. - The group encourages contractors to use locally sourced materials to reduce environmental impact, particularly regarding certified wood usage[195].

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。 截 至2023年3月31日 止 年 度 全 年 業 績 之 公 佈 Chuang’s China Investments Limited（莊士中國投資有限公司）（「本公司」）董事會（「董 事會」）公佈本公司及其附屬公司（統稱「本集團」）截至2023年3月31日止年度之 綜合全年業績如下： 截至2023年3月31日止年度要點 • 於2022年8月5日，本集團與一名獨立第三方訂立買賣協議，以代價約人民 幣132,100,000元（相等於約149,700,000港元）出售位於中華人民共和國東莞市 長安鎮之物業。該出售已於2022年9月5日完成。本集團已收現金所得款項 淨額約人民幣127,600,000元（相等於約144,600,000港元），加強了本集團的財 務狀況。 • 本公司權益持有人應佔虧損為328,700,000港元。 ...

Revenue and Sales Performance - The group recorded a revenue of approximately HKD 38.8 million for the six months ended September 30, 2022, a decrease from HKD 145.6 million in 2021, primarily due to a significant drop in property sales[25]. - Property sales revenue decreased by approximately HKD 70.1 million to about HKD 1.4 million, as most properties in Tuen Mun were sold in the previous year[25]. - Revenue for the six months ended September 30, 2022, was HKD 38,808,000, a decrease of 73.4% compared to HKD 145,642,000 in the same period of 2021[87]. - Sales of properties amounted to HKD 1,350,000, a drastic decline from HKD 71,477,000 in the previous year[123]. - Rental income and management fees increased to HKD 13,493,000 from HKD 12,775,000 year-on-year[123]. Financial Position and Cash Flow - The net cash position of the group was HKD 557.6 million, with total cash reserves (including bond investments of HKD 83.4 million) amounting to HKD 1.935 billion[22]. - As of September 30, 2022, the company's cash and bank balances amounted to HKD 1,851.8 million, an increase from HKD 1,524.9 million as of March 31, 2022[60]. - Cash and bank balances increased to HKD 1,851,821,000 from HKD 1,524,929,000 in the previous period[101]. - The company reported a total equity attributable to shareholders of HKD 4,560,534,000, a decrease of HKD 187,284,000 compared to the previous period[108]. - The company’s cash flow from financing activities showed a net outflow of HKD (234,704,000)[104]. Losses and Expenses - The group reported a loss attributable to equity holders of HKD 187.3 million[20]. - The company’s loss attributable to equity holders for the period ended September 30, 2022, was HKD 187.3 million, compared to a profit of HKD 767.9 million in 2021, resulting in a loss per share of HKD 0.0798[29]. - The loss from other income and expenses was approximately HKD 91.1 million, primarily due to losses from bond investments[28]. - The company reported a loss of HKD 45.739 million from the sale of subsidiaries, compared to a gain of HKD 1,181.548 million in the previous year[87]. - The company recognized a loss of HKD 187,284,000 during the period, with total comprehensive loss amounting to HKD 452,153,000[108]. Asset Valuation and Investments - The valuation of the investment property in Tuen Mun, Hong Kong, was approximately HKD 176.4 million as of September 30, 2022, with annual rental income from commercial units totaling about HKD 3.8 million[32]. - The property in Anshan, Liaoning, had a valuation of approximately RMB 666.6 million (about HKD 735.7 million) as of September 30, 2022, with rental income of approximately RMB 400,000 (about HKD 500,000) during the review period[36]. - The hotel and resort villas in Xiamen had a total valuation of RMB 381 million (about HKD 426 million) as of September 30, 2022, generating annual rental income of approximately RMB 18.9 million (about HKD 20.9 million)[36]. - The company holds approximately 19.35% equity in Beihai Group and 0.6% in Zhongqi Group, with total investment value around HKD 142.2 million as of September 30, 2022[55]. - The company recorded a pre-tax loss of HKD 73 million from its listed company bond investments, including interest income of HKD 14.7 million and net gains from sales and redemptions of HKD 22.7 million[58]. Corporate Governance and Compliance - The audit committee has reviewed the interim financial information for the period ending September 30, 2022, in accordance with the relevant standards[78]. - The company has complied with the corporate governance code as per the listing rules during the six months ending September 30, 2022[78]. - The group has not experienced any significant changes in its financial risk management policies since the fiscal year ending March 31, 2022[118]. - The group anticipates that the adoption of new accounting standards will not have a significant impact on its financial performance or position[115]. - The group has begun preliminary assessments of the potential impacts of new accounting standards, which will be adopted starting April 1, 2023[115]. Future Outlook and Strategy - The company is seeking opportunities to expand its investment property portfolio to increase stable and recurring income[40]. - The company is currently negotiating with local authorities regarding land rights issues affecting its project in Anshan, Liaoning[46]. - The company plans to review its sales and marketing strategies for the cemetery project to enhance brand establishment and customer service[54]. - The company maintains a cautious outlook on the global economic prospects, anticipating a slowdown in economic growth in China and facing challenges in the real estate sector in Hong Kong[63]. - The company aims to optimize its business while seeking opportunities to increase revenue and maximize returns for shareholders[63].

Financial Performance - The company's profit attributable to equity holders was HKD 227.8 million, a decrease from HKD 419 million in 2021[13]. - Total revenue for the year was approximately HKD 204.5 million, down from HKD 1,779.7 million in 2021, primarily due to a significant drop in property sales[14]. - Gross profit decreased by approximately 81.3% to HKD 134.2 million, with a gross profit margin of 66%[15]. - The company reported a net loss of approximately HKD 675.9 million in other income and losses, primarily due to unrealized losses on bond investments[15]. - The tax expense for the year was approximately HKD 138.5 million, significantly higher than a tax credit of HKD 14.4 million in 2021[17]. - The company experienced a 35.1% decrease in rental and management fee income to approximately HKD 25.9 million, due to the sale of a UK investment property[14]. Cash and Investments - The company recorded a net cash position increase of approximately HKD 1.4 billion following the sale of a property project in Guangzhou[7]. - The total cash reserves, including bond investments, amounted to HKD 1.9531 billion, while bank borrowings stood at HKD 1.255 billion[8]. - The group's cash and bank balances amounted to HKD 1,524,900,000, an increase from HKD 679,000,000 in 2021, while total bond investments were HKD 428,200,000[96]. - The group recorded a pre-tax loss of HKD 620,500,000 from bond investments, including interest income of HKD 64,800,000 and a net realized loss of HKD 14,800,000 from bond sales[93]. - The total face value of overdue bonds during the year was approximately HKD 90,800,000, with a market value of about HKD 12,300,000 as of March 31, 2022[88]. Property Development and Sales - Total sales revenue from the residential units in Tuen Mun amounted to approximately HKD 1,718,500,000, with 371 residential units sold[47]. - The remaining 6 residential units and 4 parking spaces in Tuen Mun generated sales revenue of approximately HKD 69,700,000, completed during the review year[47]. - The property development project in Ap Lei Chau has a total site area of approximately 4,320 square feet, with construction work currently ongoing[49]. - The company plans to continue exploring suitable opportunities to expand its investment property portfolio to increase recurring and stable income[41]. - The remaining deferred payment from the sale of properties is approximately RMB 99,900,000, equivalent to about HKD 122,900,000, to be received after 12 months from the completion date[53]. Rental Income and Valuation - Total rental income for the year amounted to approximately RMB 400,000 (equivalent to about HKD 500,000) due to slow commercial activities and leasing progress impacted by the COVID-19 pandemic[27]. - The annual rental income from the hotel and resort villas in Xiamen is approximately RMB 18,800,000 (equivalent to about HKD 23,100,000)[36]. - The valuation of the property as of March 31, 2022, was approximately RMB 666,600,000 (equivalent to about HKD 820,500,000), with the commercial podium valued at RMB 261,300,000 and the twin towers at RMB 405,300,000[27]. - The valuation of the commercial property in Dongguan was RMB 36,400,000 (equivalent to about HKD 44,800,000) as of March 31, 2022, with annual rental income of approximately RMB 800,000 (equivalent to about HKD 1,000,000)[39]. - The occupancy rate of the Kuala Lumpur property dropped to approximately 54% due to the impact of COVID-19, with rental income of about RM 5,500,000 (equivalent to about HKD 10,200,000)[41]. Corporate Governance - The company has a new board diversity policy aimed at enhancing board effectiveness and maintaining high corporate governance standards[137]. - The nomination committee will report annually on the composition of the board in terms of diversity and monitor the implementation of the board diversity policy[137]. - The company emphasizes the importance of integrity, industry experience, and commitment when evaluating candidates for board positions[140]. - The company has a commitment to maintaining a balanced board in terms of skills, experience, and diverse perspectives to support business strategy execution[137]. - The board consists of 10 members, including the Chairman, Vice Chairman, and Managing Director[147]. Risk Management and Internal Controls - The board is responsible for maintaining an effective risk management and internal control system to safeguard the group's assets and shareholders' interests[171]. - The group has established a robust risk management process that includes risk identification, assessment, prioritization, treatment, monitoring, and reporting[174]. - The internal audit department reports directly to the audit committee and has conducted audits to address deficiencies in internal controls, with follow-up actions implemented[181]. - The board has reviewed the effectiveness and adequacy of the risk management and internal control systems through the audit committee, covering all significant controls[183]. Future Outlook and Strategy - The company plans to continue promoting remaining retail and parking spaces in its Tuen Mun property to generate rental income[22]. - The group aims to increase stable and recurring rental income by expanding its investment property portfolio[99]. - The group will explore opportunities in the Guangdong-Hong Kong-Macao Greater Bay Area and cities along the Belt and Road Initiative[99]. - The company has provided guidance for the next fiscal year, projecting revenue growth of A% and an expected EBITDA margin of B%[116]. - Future outlook remains positive, with management expressing confidence in achieving K% growth in the next quarter[116].

Financial Performance - The company reported a profit attributable to equity holders of HKD 767.9 million for the six months ended September 30, 2021, compared to HKD 423.4 million in the same period of 2020, representing a significant increase [49]. - Earnings per share increased to HKD 0.3269, up from HKD 0.1803 in the previous year [52]. - The group reported a loss of HKD 15,000,000 from fair value changes in investment properties in Malaysia, compared to a loss of HKD 137,900,000 in 2020 [61]. - For the six months ended September 30, 2021, the operating profit was HKD 930,157,000, compared to HKD 419,353,000 for the same period in 2020, representing a growth of 121% [172]. - The profit attributable to equity holders for the same period was HKD 767,921,000, an increase from HKD 423,417,000 in 2020, reflecting an increase of 81.5% [172]. - The total comprehensive income for the period was HKD 798,099,000, compared to HKD 580,699,000 in the previous year, indicating a growth of 37.5% [176]. Revenue and Sales - The group's total revenue for the period was approximately HKD 145.6 million, a decrease of 91.4% from HKD 1,683.3 million in 2020, primarily due to reduced property sales [56]. - Revenue from property sales decreased by approximately HKD 1,545.9 million to about HKD 71.5 million, as most completed properties in Tuen Mun were delivered to buyers in the previous year [57]. - Rental and management fee income decreased by 53.3% to approximately HKD 12.7 million, down from HKD 27.2 million in 2020, due to the sale of UK investment properties [57]. - Property sales accounted for HKD 71,477,000, down from HKD 1,617,350,000 year-over-year [200]. - Rental income and management fees decreased to HKD 12,775,000 from HKD 27,152,000 [200]. Cash and Financial Position - The group's cash net position increased by approximately HKD 1.4 billion following the sale of a property project in Guangzhou, significantly strengthening its financial position [49]. - The total cash reserves, including bond investments, amounted to HKD 3.0191 billion, with bank borrowings at HKD 1.5921 billion [51]. - The group's cash and bank balances amounted to HKD 2,026,400,000, an increase from HKD 679,000,000 as of March 31, 2021 [147]. - The group's net cash position was HKD 1,427,000,000 as of September 30, 2021, compared to HKD 82,700,000 as of March 31, 2021 [147]. - The company had cash and cash equivalents of HKD 2,026,364,000 at the end of the reporting period, compared to HKD 991,763,000 at the end of the previous year [183]. Investments and Assets - The company holds approximately 19.45% equity in Beihai Group and 0.6% in Zhongqi Group, with a total investment value of about HKD 151,000,000 as of September 30, 2021 [93]. - The company has investments valued at HKD 1,101,700,000, with HKD 992,700,000 allocated to high-yield bonds [94]. - The total bond investments held by the group were HKD 992,700,000, down from HKD 1,220,000,000 as of March 31, 2021 [147]. - The company reported a net exchange difference of HKD 54,075,000 from the share of an associate's exchange reserve during the period [187]. - As of September 30, 2021, total assets amounted to HKD 6,591,693,000, up from HKD 5,700,156,000 as of March 31, 2021, showing an increase of 15.6% [180]. Dividends and Shareholder Returns - The company declared an interim dividend of HKD 0.02 per share [53]. - The interim dividend declared is HKD 0.02 per share, an increase from HKD 0.015 per share in 2020, to be paid to shareholders on the register as of December 28, 2021 [62]. - The company declared dividends amounting to HKD 35,233,000 during the period [187]. Operational Developments - The company plans to review its sales and marketing strategies to enhance brand establishment and customer service [90]. - The company is pursuing the remaining land use rights and has begun site leveling work for some of the acquired land [90]. - The company has begun construction work on some of the acquired land after receiving government approval for a delay until January 2022 [90]. - The company has obtained land use rights for approximately 143 acres, allowing for the construction of about 22,569 burial plots in phases two and three [90]. Market Conditions and Risks - The ongoing COVID-19 pandemic has introduced increased uncertainty in property market valuations in Hong Kong and China [197]. - The group continues to evaluate accounting estimates and judgments based on past experiences and future expectations, considering the impact of the COVID-19 pandemic [199]. - The fair value of financial assets and liabilities is considered to be similar to their carrying amounts, with no significant changes noted in the economic environment affecting valuations [197]. Future Outlook - The group plans to closely monitor the bond market and will sell bond investments when suitable opportunities arise [143]. - The group will focus on property projects in Hong Kong and China, seeking new opportunities to expand land reserves for property development [149]. - The group aims to increase stable and recurring rental income by identifying suitable investment projects to expand its investment property portfolio [149]. - The group will pay special attention to the Guangdong-Hong Kong-Macao Greater Bay Area and cities along the Belt and Road Initiative [149].

Financial Performance - The company recorded a significant revenue increase of approximately 9 times to HKD 1,779,700,000 for the fiscal year ending March 31, 2021, compared to HKD 177,500,000 in 2020[7][16] - Profit attributable to equity holders was HKD 419,000,000, a turnaround from a loss of HKD 192,400,000 in the previous year, resulting in earnings per share of HKD 0.1784[8][15] - The gross profit increased to HKD 718,800,000, with a gross margin decline from 75% to 40% due to a higher proportion of lower-margin property sales[16] - Development property sales surged approximately 38 times to HKD 1,651,600,000, primarily due to the completion and delivery of units at The Esplanade in Tuen Mun[19] - Rental and management fee income decreased by 39.7% to approximately HKD 39,900,000, attributed to the sale of UK investment properties[20] Dividends and Shareholder Returns - The board proposed a final dividend of HKD 0.015 per share, totaling approximately HKD 70,500,000 for the fiscal year, compared to no dividends in 2020[22] - The net asset value attributable to equity holders reached HKD 4,419,800,000 as of March 31, 2021, with a net asset value per share of HKD 1.88[93] Property Sales and Investments - The company completed the sale of a property in Guangzhou, China, post fiscal year-end, enhancing its financial position with an increase in net cash of approximately HKD 1,471,900,000[13] - The total sales revenue from the residential units in the Tuen Mun project is approximately HKD 1,714,500,000, with a gross profit of HKD 609,100,000, resulting in a gross profit margin of approximately 37%[50] - The company has terminated the lease for 21 villas due to ongoing rent arrears and is currently seeking new tenants for these properties[37] - The company is negotiating with Xiamen Mingjia Hotel regarding a rent reduction due to the impact of the pandemic on the tourism industry[37] Financial Position and Cash Flow - The company reported a loss of HKD 136,000,000 from fair value changes in investment properties, primarily due to losses in properties located in Guangzhou and Anshan[21] - Financing costs decreased by 34.9% to HKD 48,200,000 due to reduced bank borrowings and lower interest rates[21] - The group recorded cash and bank balances along with bond investments totaling HKD 1,899,000,000, an increase from HKD 1,461,500,000 in 2020[94] - The net cash position improved significantly by approximately HKD 1,471,900,000 following the sale of the Panyu project and payment of related taxes[94] Investment Strategy and Future Plans - The company plans to continue promoting remaining retail and parking spaces at its properties to generate rental income[26] - The company plans to continue exploring suitable opportunities to expand its investment property portfolio to increase recurring and stable income[44] - The group plans to focus on property projects in Hong Kong and China, seeking new opportunities to expand land reserves and investment properties[98] Risk Management and Governance - The company has implemented a robust risk management process to identify, assess, and manage significant risks[178] - The internal audit department conducted audits and reported on deficiencies in controls, with follow-up actions implemented to address identified issues[181] - The company has established a policy for insider information disclosure to ensure consistency and timeliness in reporting[182] - The board believes that the company has fully complied with the governance code regarding risk management and internal controls for the year ending March 31, 2021[185] Board Composition and Diversity - The company has implemented a new board diversity policy to improve governance and performance, effective from January 1, 2019[138] - The board consists of 11 members, including the Chairman, Vice Chairman, and Managing Director, ensuring a balanced composition with relevant knowledge and experience[151] - The nomination committee evaluates candidates based on integrity, industry experience, and commitment to the company, ensuring a diverse board composition[142] Employee and Director Compensation - The remuneration policy aims to provide competitive market-based salaries to attract and retain talented employees[168] - The former chairman, now an honorary chairman, receives an annual fee of HKD 400,000, while other non-executive directors receive HKD 120,000 each per year[169] Market Presence and Growth Strategy - The company is expanding its market presence in regions such as Asia and Europe, aiming for a market share increase of F% by the end of the fiscal year[117] - Overall, the company remains optimistic about future growth, with a long-term vision to achieve a revenue target of $K million by 2025[117]

Financial Performance - Revenue for the period reached HK$1,683.3 million, a substantial increase of approximately 20 times compared to HK$81.3 million in the same period last year [40]. - Profit attributable to equity holders was HK$423.4 million, a nearly 19-fold increase from HK$21.3 million in the previous year, with earnings per share at HK$0.1803 [40]. - Gross profit rose significantly to HK$656.0 million from HK$63.0 million, although the overall gross margin decreased from 77% to 39% due to a higher proportion of lower-margin development property sales [41]. - The group recorded a net cash position of HK$391.8 million, with total cash reserves (including investments held for trading) amounting to HK$2,057.7 million, while bank borrowings stood at HK$1,665.9 million [37]. - The company reported a net cash outflow from operating activities of HKD (426,447) for the six months ended September 30, 2020, compared to a cash inflow of HKD 158,246 for the same period in 2019 [145]. - The total equity attributable to equity holders increased to HKD 4,337,020 as of September 30, 2020, from HKD 4,252,873 as of March 31, 2020, marking an increase of about 1.98% [142]. - The company recorded a profit of HKD 423,417 for the period, contributing to a total comprehensive income of HKD 567,366 [149]. Property Sales and Development - Development property sales surged approximately 108 times to about HK$1,617.4 million, primarily due to the completion and delivery of units at The Esplanade in Tuen Mun [40]. - The Tuen Mun property in Hong Kong has sold 366 residential units for a total sales amount of approximately HKD 1,653,100,000, with 358 units sold during the review period [68]. - The Guangzhou project, "Zhuangshi • Yingdie Lanwan," has completed the first two phases, providing a total of 2,077 residential units, with all units sold out [72]. - The third phase of the Guangzhou project has a total floor area of approximately 175,011 square meters, with significant development potential due to nearby large commercial projects [75]. - The company plans to continue its focus on property development and management, as well as cemetery operations, to enhance revenue streams [152]. Investment and Financial Assets - Income from securities investment and trading increased by 28.0% to approximately HK$27.4 million, due to a larger bond investment portfolio compared to the previous year [40]. - The group held a high-yield bond portfolio with an annualized average yield of approximately 7% as of September 30, 2020 [89]. - The total market value of the bonds held was approximately $988,916,000, representing 13.9% of the total assets as of September 30, 2020 [93]. - The company recorded an unrealized fair value gain of approximately HKD 57.9 million due to an increase in bond prices from March 31, 2020, to September 30, 2020 [107]. - The company reported a loss of HKD 9,280,000 from the sale of a subsidiary [187]. Dividends and Shareholder Returns - The interim dividend declared was HK$0.015 per share [37]. - The group declared an interim dividend of HKD 0.015 per share, compared to no dividend in 2019, to support operational funding needs amid an uncertain business environment [45]. - Basic and diluted earnings per share were HKD 18.03, compared to HKD 0.91 in the prior year, indicating a strong return to shareholders [136]. Financial Position and Liabilities - The company’s total liabilities decreased to HKD 1,126,383 from HKD 1,833,802, indicating a reduction of about 38.5% [142]. - Long-term bank borrowings decreased significantly to HKD 625,000 from HKD 1,306,272, a reduction of approximately 52% [142]. - Approximately 46.8% of the company's bank borrowings are due for repayment within the first year [110]. Market and Economic Conditions - The company will closely monitor the economic recovery in China as the COVID-19 pandemic situation improves [113]. - The ongoing development of the COVID-19 pandemic may lead to unpredictable fluctuations in the fair value of certain investment properties after September 30, 2020 [166]. Operational and Governance Aspects - The audit committee has been established to oversee financial reporting and risk management, ensuring compliance with governance standards [128]. - The company employed 150 staff as of September 30, 2020, focusing on talent development and employee benefits [133]. - The group has maintained consistent estimates and judgments in preparing interim financial information, considering the impact of the COVID-19 pandemic [168].