Financing and Investment - The company has signed a non-binding memorandum of understanding with a potential investor for the Qinhuangdao project, but no further agreements have been made due to the investor's inability to commit the required funding [4]. - The company has secured a revolving loan financing of HKD 2,000,000,000 from a company indirectly wholly owned by its controlling shareholder, which remains undrawn as of March 31, 2024 [6]. - The company is actively exploring multiple financing options and is in discussions with various financial institutions, including Huaxia Bank [8]. - The company has identified over five potential investment opportunities in mainland China and Southeast Asia for business expansion [9]. Project Development - As of March 31, 2025, the company has pre-sold 82 units in the second phase of the Yinchuan project [5]. - Following the acquisition of three property management companies, the company has expanded its property management business, contributing to its revenue in the 2024/2025 fiscal year [7]. Cost Control - The company continues to implement cost control measures, including maintaining appropriate staff levels and reducing certain administrative costs [10].

Financial Performance - Total revenue from contracts with customers for the six months ended 30 September 2024 was HK$20.736 million, compared to HK$15.112 million for the same period in 2023[16]. - The Group recorded total revenue of approximately HK$20,736,000 for the Reporting Period, representing an increase of 37.2% compared to approximately HK$15,112,000 for the Corresponding Period[53]. - Revenue from property management fee income increased to approximately HK$14,583,000, a rise of 47.5% from approximately HK$9,889,000 in the Corresponding Period[53]. - The total revenue from other sources, including rental income, was HK$4.192 million for the six months ended 30 September 2024, compared to HK$2.908 million in the previous year[16]. - The Group's gross profit for the period was HK$11,175,000, up from HK$6,449,000, reflecting a gross profit margin improvement[138]. - Loss before tax decreased to HK$50,356,000 from HK$63,761,000, indicating a reduction in losses by approximately 21%[138]. - The Group's total comprehensive expense for the period was HK$48,886,000, compared to HK$28,125,000 in the previous year, showing an increase in overall expenses[138]. - The loss attributable to equity holders for the Reporting Period was approximately HK$48,510,000, compared to approximately HK$53,531,000 for the Corresponding Period[57]. Property Management and Development - The Group completed the acquisition of three property management companies, generating revenue of approximately HK$14.6 million for the six months ended 30 September 2024, an increase of approximately 47.5% compared to the same period in 2023[5]. - The Group expects revenue from property management to increase as the three acquired subsidiaries will contribute for a full year in the year ending 31 March 2025[5]. - The total property management area managed by the Group was approximately 551,800 sq.m. as of 30 September 2024, with active expansion efforts in Yinchuan city[115][118]. - The total property management area of Wuhan Yuejing was approximately 79,770 sq.m. as of September 30, 2024, with active expansion in the property management business in Wuhan city[94]. - The Group is expanding its property management business as part of its growth strategy[198]. - The Qinhuangdao Venice – City of Water Outlets Project is planned to be developed in three phases, with Phase 1 covering approximately 163,227 sq.m.[63]. - The Jin Sheng Yue Jing project in Yinchuan has a site area of approximately 120 mu and comprises 20 mid- to high-rise buildings developed in 3 phases, with Phase 2's main structure completed[88][90]. - The Group has obtained construction planning and operation licenses for various phases of the Qinhuangdao project, including the first batch of 59 vacation home pre-sale permits[86]. Financing and Liquidity - As of 30 September 2024, the Group had an unused revolving loan facility of RMB2,000,000,000, which will expire in December 2025[4]. - The Group will continue to explore financing options for working capital and commitments, including potential new investors and business partners[7]. - The directors believe that the Group will have sufficient working capital to meet its current requirements at least until 30 September 2025[9]. - The Group's bank interest income decreased to HK$28,000 for the six months ended 30 September 2024, down from HK$54,000 in the previous year[18]. - The Group is considering the disposal of certain property development projects to accelerate funding for its property projects[8]. - The Group's current ratio was 0.71 times as of 30 September 2024, slightly down from 0.72 times as of 31 March 2024[122]. - The Group's total borrowings amounted to approximately HK$618,716,000, which will be due in the coming twelve months[170]. - The financial support from related companies is crucial for the Group's liquidity and operational stability[197]. Market Conditions and Future Outlook - The Group is actively exploring opportunities outside of China, particularly in Southeast Asia, which is seen as a region with high growth potential[135]. - The Group's future development is heavily reliant on diversifying revenue sources beyond property sales and rental income, which currently represent its primary income streams[132]. - The Group plans to enhance cooperation with financing institutions and government agencies to activate various projects amid a challenging economic environment[157]. - The Qinhuangdao Project has faced significant delays due to unfavorable market conditions and liquidity constraints, but recent government actions are expected to boost housing demand[195]. - The Company anticipates restarting the Qinhuangdao Project by March 31, 2025, with expected revenue recognition by the year ending March 31, 2026[195]. - The removal of purchase restrictions and the phasing out of the lower limit of interest rates for first-time housing loans in Qinhuangdao are expected to attract more investors[195]. Employee and Operational Metrics - The Group's employee count increased to 154 as of September 30, 2024, from 143 as of March 31, 2024, reflecting a growth in workforce[150]. - The Group's financial strategy includes reducing leverage and managing cash flow effectively to improve financial performance[177]. Assets and Liabilities - As of September 30, 2024, total assets less current liabilities amounted to HK$656,288,000, a decrease from HK$705,432,000 as of March 31, 2024[164]. - The company reported a total equity of HK$475,673,000, reflecting a loss of HK$48,510,000 during the six months ended September 30, 2024[166]. - Current liabilities increased to HK$1,319,698,000 from HK$1,279,206,000, with trade payables at HK$381,385,000[164]. - The net current liabilities increased to HK$387,888,000 from HK$355,132,000, indicating a worsening liquidity position[164]. - The company holds completed properties for sale valued at HK$26,222,000, significantly up from HK$1,613,000[164]. - Properties under development are valued at HK$705,023,000, down from HK$714,506,000[164]. - The company reported a goodwill of HK$106,048,000, slightly up from HK$105,458,000[164]. - Deferred tax assets increased to HK$23,000 from HK$10,000, suggesting improved tax positioning[164]. Dividends - The Group did not declare any interim dividend for the reporting period, consistent with the previous year[159]. - The Group did not recommend any interim dividend for the reporting period, consistent with the previous year[179].

Financial Performance - Revenue for the six months ended September 30, 2024, was HKD 20,736,000, an increase of 37.5% compared to HKD 15,112,000 for the same period in 2023[2] - Gross profit for the same period was HKD 11,175,000, compared to HKD 6,449,000 in the previous year, reflecting a significant improvement[2] - The pre-tax loss narrowed to HKD (50,356,000) from HKD (63,761,000) year-over-year, indicating a reduction in losses[3] - The net loss for the period was HKD (48,510,000), down from HKD (53,531,000) in the prior year, showing a positive trend[3] - Basic and diluted loss per share improved to HKD (0.21) compared to HKD (0.23) in the previous year[4] - Financing costs for the six months ended September 30, 2024, amounted to HKD 16,463,000, significantly higher than HKD 1,161,000 in the same period of 2023[26] - The group recorded a pre-tax loss for the six months ended September 30, 2024, with employee costs totaling HKD 10,207,000, slightly down from HKD 10,272,000 in the previous year[28] - The company reported a loss attributable to equity holders of approximately HKD 48,510,000, compared to HKD 53,531,000 in the previous period[44] - The basic loss per share for the reporting period was HKD 0.21, compared to HKD 0.23 in the corresponding period[44] - The financing costs for the reporting period were approximately HKD 16,463,000, an increase of 1,318.0% from HKD 1,161,000 in the corresponding period[44] Assets and Liabilities - Non-current assets totaled HKD 1,044,176,000 as of September 30, 2024, slightly down from HKD 1,060,564,000 as of March 31, 2024[5] - Current liabilities amounted to HKD 1,319,698,000, an increase from HKD 1,279,206,000 at the end of the previous fiscal year[5] - The total equity attributable to the owners of the company decreased to HKD 197,008,000 from HKD 245,392,000[7] - The company had accounts receivable of HKD 3,477,000 as of September 30, 2024, compared to HKD 3,074,000 as of March 31, 2024[35] - The company’s accounts payable amounted to HKD 381,385,000 as of September 30, 2024, compared to HKD 383,733,000 as of March 31, 2024[38] - The outstanding principal amount of related party loans as of September 30, 2024, was approximately HKD 334,666,000[44] - The group holds property interests with a net book value of approximately HKD 897,328,000 as of September 30, 2024, which have been pledged to banks and financial institutions[65] Cash and Financing - The company has cash and cash equivalents of approximately HKD 15,142,000 and restricted bank deposits of HKD 9,101,000 as of September 30, 2024[9] - The group’s cash and cash equivalents were approximately HKD 15,142,000 as of September 30, 2024, down from HKD 17,685,000 as of March 31, 2024[64] - The group signed a loan agreement for a total principal amount of RMB 2,000,000,000 (approximately HKD 2,217,800,000) with an annual interest rate of 5%, due for repayment in December 2023[47] - The group plans to continue exploring various financing options with financial institutions to support operational funding needs[14] Business Operations and Strategy - The company anticipates restarting the Qinhuangdao project by March 31, 2025, following recent government policy changes that may boost housing demand[9] - The property management business generated approximately HKD 14,600,000 in revenue for the six months ended September 30, 2024, representing a growth of about 47.5% compared to the same period in 2023[13] - The management anticipates that the three acquired property management companies will contribute to the group's revenue for the full year ending March 31, 2025[13] - The group may consider selling non-core business assets to accelerate property project development and secure additional funding[15] - The group has faced significant uncertainty regarding the realization of its plans due to fluctuations in the mainland property market[18] - The group aims to diversify its product offerings in the real estate market, focusing on combinations of residential and commercial, residential and elderly care, and residential and cultural tourism[73] - The group is actively exploring opportunities outside of China, particularly in Southeast Asia, which presents high growth potential and a young population[73] - The group has committed to maintaining high standards of corporate governance and has adhered to the corporate governance code, with a noted deviation regarding the roles of the chairman and CEO being held by the same individual[76] Market Conditions and Challenges - The group acknowledges challenges due to a single-source income model primarily reliant on property sales and rental income, emphasizing the need to improve capital utilization and broaden revenue sources[73] - The group has implemented measures to control administrative costs effectively[16] - The audit committee has reviewed the group's financial performance and discussed risk management and internal controls during the reporting period[82] - The group plans to enhance collaboration with financial institutions, government agencies, and other industry players to initiate various projects amid challenging market conditions[73] Employee and Operational Metrics - The group employed a total of 154 employees (excluding directors) as of September 30, 2024, an increase from 143 employees as of March 31, 2024[71] - The group has not made any significant acquisitions or disposals of subsidiaries or associates during the reporting period[70]

Financial Performance - The Group recorded total revenue of approximately HK$31,921,000, a decrease of 38.3% compared to approximately HK$51,708,000 for the corresponding year[15]. - Revenue from property sales was approximately HK$3,332,000, representing a significant decrease of 90.5% from approximately HK$35,198,000 in the previous year[15]. - Management fee income increased by 249.3% to approximately HK$20,471,000 due to the acquisition of three property management companies during the year[15]. - Rental income decreased by 37.3% to approximately HK$6,677,000 compared to approximately HK$10,650,000 for the corresponding year[15]. - The Group recorded a loss on revaluation of investment properties of approximately HK$62,958,000, an increase of 1,728.6% from approximately HK$3,443,000 in the previous year[16]. - The loss attributable to equity holders for the year amounted to approximately HK$222,262,000, compared to a profit of approximately HK$1,421,817,000 for the corresponding year[22]. - Finance costs decreased by 22.6% to approximately HK$40,218,000 due to the reversal of approximately HK$7 million in interest on other borrowings[22]. - Impairment loss on other receivables was approximately HK$36,154,000, primarily reflecting impairment loss on receivables due from the Disposal Group[22]. - The Group's cash and cash equivalents amounted to approximately HK$17,685,000 as of March 31, 2024, down from HK$35,083,000 in 2023[60]. - The Group's current ratio improved to 0.72 times as of March 31, 2024, compared to 0.67 times in 2023[60]. - For the year ended March 31, 2024, the Group recorded a net loss of approximately HK$222,262,000 and net current liabilities of approximately HK$355,132,000[105]. - The total borrowings, including amounts due to a shareholder and related parties, amounted to approximately HK$609,301,000, which will be due in the coming twelve months[105]. - Administrative expenses decreased to approximately HK$46.6 million, down approximately 14.2% from approximately HK$54.4 million in the previous period[104]. Property Development and Management - The Group is engaged in the development of high-end residential properties, contributing to its diversified property portfolio[13]. - The Company is actively involved in property management, enhancing operational efficiency and service quality[13]. - The Yinchuan Project includes a commercial portion with a gross floor area of 74,350 sq.m, fully owned by the Group, with phases 1 and 2 completed and available for lease[10]. - The Qinhuangdao Project has a total gross floor area of 672,110 sq.m, also fully owned, with phase 1 partially completed[10]. - The Group completed the acquisition of 100% equity interests in Ningxia Guanling and Wuhan Yuejing property management companies, with total property management areas of approximately 330,000 sq.m. and 73,816 sq.m. respectively as of March 31, 2024[30][33]. - The Yinchuan Commercial Properties Project consists of three commercial buildings with a total gross floor area of over 90,000 sq.m., achieving an occupancy rate of approximately 90% as of March 31, 2024[43][44]. - The total property management area managed by Ningxia Jinguan and Ningxia Guanling was approximately 551,800 sq.m. as of March 31, 2024[48]. - The property management business segment generated revenue of approximately HK$20.5 million during the reporting period, representing an increase of approximately 249% compared to the previous year[98]. - The management expects revenue from the property management business segment to increase to at least approximately HK$33 million for the year ending March 31, 2025[98]. - The Group's acquisitions are aimed at expanding its property management business amid a challenging property development market in China[30][33]. Strategic Initiatives and Future Outlook - The Company aims to expand its market presence through strategic development and investment in commercial properties[12]. - The Group is exploring new strategies for market expansion and potential acquisitions to enhance its competitive edge[12]. - The Group's strategic cooperation aims to establish a comprehensive and deep-level cooperation mechanism to promote the Qinhuangdao Project as a first-class health care and vacation demonstration city[35][39]. - The Group is exploring opportunities outside of China, particularly in the Southeast Asia region, which has high growth potential[84]. - Future development will depend on enhancing cooperation with financing institutions and government agencies to activate various projects[85]. - The Group plans to continue identifying and negotiating various financing options for working capital and commitments, including a memorandum of understanding with a potential investor for the Qinhuangdao Project[116]. - The Group is actively exploring investment opportunities in mainland China and Southeast Asia related to property development and upstream or downstream businesses[121]. Challenges and Risks - The Group has faced challenges in adapting to industry policies and market trends, leading to lower-than-expected fund usage rates and returns[79]. - The financing environment is expected to remain tight, with a focus on controlling capital flow and reducing liabilities[79]. - There are material uncertainties regarding the Group's ability to achieve its plans due to volatility in the property sector in Mainland China and uncertainties in obtaining continuous support from banks and creditors[124]. - The Group's income sources are primarily from property sales and rental income, posing significant challenges amid rising mortgage interest rates[83]. - The Qinhuangdao Project did not record any sales during the reporting period due to weak market sentiment and lack of capital investment[91]. Shareholder and Corporate Governance - The Board of Directors includes Li Yi Feng as Chairman and CEO, and Chen Wei as Vice President, ensuring strong leadership[4]. - The Company received annual confirmation of independence from each of the independent non-executive Directors[160]. - There were no interests or short positions in shares held by Directors or the Chief Executive as of 31 March 2024[162]. - The Company had no service contracts with Directors that are not determinable within one year without compensation[155]. - The Company maintained a sufficient public float as required under the Listing Rules throughout the year[191]. - The Group will not pay a final dividend for the Year, consistent with the previous year (31 March 2023: Nil)[146].

Financial Performance - For the fiscal year ending March 31, 2024, the company reported total revenue of HKD 31,921,000, a decrease of 38.4% compared to HKD 51,708,000 in the previous year[2]. - The gross profit for the same period was HKD 9,400,000, down 37.5% from HKD 15,128,000 year-on-year[4]. - The company incurred a significant loss before tax of HKD 224,950,000, compared to a profit of HKD 1,420,956,000 in the previous year[4]. - The net loss for the year was HKD 222,262,000, a stark contrast to the profit of HKD 1,421,817,000 reported in the prior year[4]. - Total revenue from customer contracts decreased to HKD 25,244,000 in 2024 from HKD 41,058,000 in 2023, representing a decline of approximately 38.5%[26]. - Property sales revenue for the reporting period was approximately HKD 3,332,000, down 90.5% from HKD 35,198,000 in the previous year[55]. - Rental income decreased by 37.3% to approximately HKD 6,677,000, compared to HKD 10,650,000 in the previous year[55]. - The group reported a pre-tax loss of HKD 222,262,000 in 2024 compared to a profit of HKD 1,421,817,000 in 2023[31]. - The company recorded an investment property revaluation loss of approximately HKD 62,958,000, an increase of 1,728.6% from HKD 3,443,000 in the previous year[55]. - The company reported a net loss attributable to equity holders of approximately HKD 222,262,000, compared to a profit of approximately HKD 1,421,817,000 in the previous year[57]. - The loss per share for the year was HKD 0.95, while the previous year reported earnings per share of HKD 6.09[57]. Assets and Liabilities - Total assets decreased to HKD 1,984,638,000 from HKD 2,113,012,000, reflecting a decline of approximately 6.1%[5]. - Current liabilities were reported at HKD 1,279,206,000, down from HKD 1,568,540,000, indicating a reduction of about 18.5%[6]. - The group’s total liabilities decreased slightly to HKD 383,733,000 in 2024 from HKD 389,267,000 in 2023[37]. - The total outstanding principal amount of related party loans as of March 31, 2024, is RMB 301,800,000 (approximately HKD 332,885,000), with an interest rate ranging from 5.7% to 6.19%[58]. - As of March 31, 2024, approximately RMB 9,060,000 (approximately HKD 9,993,000) of the unsecured loan financing is due[60]. - The group has other borrowings of approximately HKD 35,990,000 as of March 31, 2024, an increase from HKD 30,718,000 in the previous year[80]. Cash Flow and Financing - The company's cash and cash equivalents decreased to HKD 17,685,000 from HKD 35,083,000, a decline of 49.5%[5]. - The group has a revolving loan facility of HKD 2,000,000,000 from a company controlled by the major shareholder, with an annual interest rate of 5%, maturing in December 2025[20]. - The group is actively seeking additional financing options to ensure continued property development and accelerate property pre-sales[18]. - Financing costs decreased to HKD 40,218,000 in 2024 from HKD 51,943,000 in 2023, a reduction of approximately 22.5%[28]. - The group has capital commitments of approximately HKD 63,676,000 for properties and investment properties as of March 31, 2024, significantly reduced from HKD 526,430,000 in 2023[83]. Business Operations - The company continues to focus on property development and management services as part of its core business strategy[8]. - The group operates two main property development and investment projects located in Qinhuangdao and Yinchuan, China[22]. - The group completed the acquisition of Ningxia Guanling Property Service Co., Ltd. for approximately HKD 1,813,000 in April 2023[40]. - The company completed the acquisition of Wuhan Yuejing Property Management Co., Ltd. for RMB 1,750,000 (approximately HKD 1,910,000) on August 9, 2023[45]. - The group completed the acquisition of three property management companies during the reporting period, including Ningxia Guanling, Wuhan Yuejing, and Hohhot Pengshengjie[86]. - The Qinhuangdao Venice Water City Outlets project covers an area of approximately 1,077 acres, with the first phase having a total land area of nearly 163,227 square meters[63]. - The Yinchuan commercial project has achieved approximately 90% occupancy rate and has become one of the largest curtain wholesale bases in the Northwest region[70]. - The total property area managed by Ningxia Jin Guan and Ningxia Guanling is approximately 551,800 square meters as of March 31, 2024[71]. - The total property management area for Hohhot Pengshengjie is approximately 30,633 square meters as of March 31, 2024, with ongoing expansion efforts in commercial property management[72]. - Wuhan Yuejing manages a total property area of about 73,816 square meters as of March 31, 2024, and is actively expanding its property management business in Wuhan[74]. - The group plans to diversify its product offerings, focusing on "residential + commercial," "residential + elderly care," and "residential + cultural tourism" combinations to enhance competitiveness[90]. - The group is exploring opportunities outside of China, particularly in Southeast Asia, which has high growth potential and a young population[92]. Governance and Compliance - The company deviated from the code provision C.2.1 as the roles of Chairman and CEO are held by the same person, Mr. Li Yifeng, which the board believes provides strong and consistent leadership during the current development stage[96]. - All directors confirmed compliance with the standards set out in the Appendix 10 of the Listing Rules regarding securities trading throughout the year[97]. - The company and its subsidiaries did not purchase, sell, or redeem any listed securities during the year[98]. - The audit committee reviewed the group's annual consolidated financial performance in collaboration with management and external auditors, discussing audit, risk management, and financial reporting matters[99]. - The annual performance announcement and annual report will be published on the company's website and the Hong Kong Stock Exchange website[101]. - The annual general meeting is scheduled for August 27, 2024, with a suspension of share transfer registration from August 22 to August 27, 2024, to determine shareholder voting rights[102]. - The board consists of two executive directors, Mr. Li Yifeng (Chairman and CEO) and Mr. Chen Wei (Vice President), along with three independent non-executive directors[103]. Dividends - The group did not declare any dividends for the year ending March 31, 2024, consistent with 2023[33]. - The board does not recommend the payment of a final dividend for the year, consistent with the previous year[93].

Revenue Performance - The Group recorded total revenue of approximately HK$15,112,000 for the six-month period ended 30 September 2023, a decrease of 56.1% compared to approximately HK$34,431,000 for the corresponding period[16]. - Revenue from property sales was approximately HK$2,315,000, representing a significant decrease of 91.2% from approximately HK$26,182,000 in the corresponding period[16]. - Management fee income increased to approximately HK$9,889,000, marking a growth of 200.4% compared to approximately HK$3,292,000 for the corresponding period[16]. - The decrease in overall revenue was primarily attributed to a decline in property sales, indicating a need for strategic adjustments in sales and marketing efforts[16]. - For the six months ended September 30, 2023, total revenue from contracts with customers was HK$12,204,000, a decrease of 58.5% compared to HK$29,474,000 for the same period in 2022[138]. - Sales of properties contributed HK$2,315,000, down 91.2% from HK$26,182,000 in the previous year[138]. - Rental income for the period was HK$2,908,000, a decrease of 41.3% from HK$4,957,000 in the same period last year[138]. Financial Losses - The Group experienced a loss on revaluation of investment properties of approximately HK$41,015,000, an increase of 531.9% compared to approximately HK$6,491,000 for the corresponding period[22]. - The loss attributable to equity holders for the reporting period was approximately HK$53,531,000, compared to a profit of approximately HK$1,466,942,000 for the corresponding period[23]. - The Group incurred a loss before tax of HK$63,761,000, compared to a profit of HK$1,465,319,000 in the prior year[94]. - The loss for the period was HK$53,531,000, a stark contrast to the profit of HK$1,466,942,000 reported in the same period last year[94]. - The Group reported a loss attributable to equity holders of HK$53,531,000 for the six months ended 30 September 2023, compared to a profit of HK$1,466,942,000 in the same period of 2022[153]. Property Development and Management - Key projects include the JeShing European City Project and the Qinhuangdao Venice – City of Water Outlets Project, focusing on both commercial and residential developments[15]. - The Group is engaged in the development and operation of featured commercial properties, including tourism and senior care properties[14]. - The Yinchuan Project includes a commercial portion with a gross floor area of 74,350 sq.m, fully owned by the Group[12]. - The residential portion of the Yinchuan Project has a total area of 40,839 sq.m, also fully owned by the Group[12]. - The Qinhuangdao Project has a total gross floor area of 672,110 sq.m, with a 100% attributable interest[12]. - The Group's property management services are a significant part of its business model, contributing to the increase in management fee income[14]. - The Group acquired 100% equity interests in two property management companies, Ningxia Guanling and Wuhan Yuejing, with unaudited revenues of approximately RMB8,330,000 and RMB3,573,000 respectively for the year ended 31 December 2022[32]. - The total property management areas of the newly acquired companies were approximately 330,000 sq.m., 73,816 sq.m., and 26,398 sq.m. as of 30 September 2023[32]. Financing and Capital Management - As of September 30, 2023, the total outstanding principal amount of related party loans was RMB301,800,000 (approximately HK$328,902,000)[24]. - The Group entered into a new loan agreement for an unsecured loan facility of HK$2,000,000,000 at an interest rate of 5% per annum, due for repayment in December 2025[28]. - The Group has a revolving loan facility of RMB2,000,000,000 from a company controlled by a controlling shareholder, with approximately RMB1,990,940,000 remaining unutilised as of 30 September 2023[117]. - The Group plans to continue identifying various financing options to support its working capital and commitments[118]. - The directors are considering the possible disposal of non-core businesses and assets to accelerate property project developments and source additional funds[119]. - The Group aims to control administrative costs to ensure sufficient working capital through at least 30 September 2024[120]. Asset and Liability Management - As of September 30, 2023, non-current assets totaled HK$996,935,000, a decrease of 8.8% from HK$1,093,263,000 as of March 31, 2023[95]. - Current assets increased slightly to HK$1,065,869,000 from HK$1,056,749,000, reflecting a growth of 0.1%[95]. - Total liabilities decreased to HK$1,615,256,000 from HK$1,674,339,000, indicating a reduction of 3.5%[97]. - Net current liabilities improved to HK$456,945,000 from HK$511,791,000, showing a decrease of 10.7%[97]. - Net assets decreased to HK$447,548,000 from HK$475,673,000, a decline of 5.9%[97]. - The issued capital remained stable at HK$1,166,834,000 with no change from the previous period[97]. - Deferred tax liabilities decreased to HK$31,431,000 from HK$42,105,000, a reduction of 25.4%[97]. - Cash and cash equivalents increased to HK$36,003,000 from HK$35,083,000, reflecting a growth of 2.6%[95]. - Trade payables decreased to HK$376,012,000 from HK$389,267,000, a decline of 3.4%[95]. - The company reported a decrease in completed properties held for sale from HK$34,893,000 to HK$25,675,000, a drop of 26.5%[95]. Future Outlook and Strategic Initiatives - The Group's future development will focus on diversifying product mixes in the real estate market, including "residential + commercial" and "residential + senior care"[83]. - The financing environment is expected to remain tight, with national policies emphasizing housing for accommodation rather than speculation[84]. - The Group plans to enhance cooperation with financing institutions and government agencies to activate various projects amid a challenging economic environment[90]. - The Group hosted several large alliance marketing events, significantly increasing mall traffic, with an average of 2,500 views per video on TikTok[52]. - The Group plans to continue exploring various financing options to support its operational funding needs and potential new investments[124]. - The Board is considering the sale of non-core business assets to accelerate project development and obtain additional funding[124]. Project Development Updates - The Qinhuangdao Venice – City of Water Outlets Project covers an area of approximately 1,077 mu, planned to be developed in three phases, with Phase 1 covering approximately 163,227 sq.m. for outlets business, health preservation hotel, resort units, and an exhibition centre[37]. - The Group has obtained construction work planning and commencement permits for Sections A, B, and C of Phase 1, as well as pre-sale permits for the first 59 resort units[41]. - As of September 30, 2023, the Yinchuan Commercial Properties Project achieved an occupancy rate of 89.9% and became one of the largest curtain wholesale bases in the northwest region[48]. - The Yinchuan Commercial Properties consist of three commercial buildings and two corridors, with a total gross floor area of over 90,000 sq.m., featuring building materials and furniture stores, department stores, restaurants, and supermarkets[47]. - The Jin Sheng Yue Jing residential project has completed the main structure of Phase 2, with ongoing installation of elevators and external wall painting[46]. - The Jin Sheng Yue Jing project comprises 20 mid- to high-rise buildings to be developed in 3 phases, with a site area of approximately 120 mu[40]. - The Qinhuangdao Project aims to align with local industrial positioning to become a first-class comprehensive demonstration city for health care and vacation[38]. - The Group plans to build the commercial portion of Phase 1 of the Qinhuangdao Project with concerted efforts from all partners, guided by local government agencies[38].

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告之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何 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。 RICHLY FIELD CHINA DEVELOPMENT LIMITED 裕 田 中 國 發 展 有 限 公 司 （於開曼群島註冊成立及於百慕達持續經營之有限公司） 313 （股份代號： ） 截至二零二三年九月三十日止六個月之 中期業績 裕田中國發展有限公司（「本公司」）董事（「董事」）會（「董事會」）謹此宣佈本公司及其 附屬公司（統稱「本集團」）截至二零二三年九月三十日止六個月期間（「報告期」）之未 經審核簡明綜合中期業績，連同截至二零二二年九月三十日止六個月期間（「相應期 間」）之未經審核比較數字。 簡明綜合損益及其他全面收益報表 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 附註 千港元 千港元 （未經審核） （未經審核） 4 15,112 34,431 收益 ...

RICHLY FIELD CHINA DEVELOPMENT LIMITED 裕田中國發展有限 公 司 (Incorporated in the Cayman Islands and continued in Bermuda with limited liability) ( 於開曼群島註冊成立及於百慕達持續經營之有限公司 ) (Stock Code 股份代號 : 313) 2023 Annual Report 年 報 RICHLY FIELD CHINA DEVELOPMENT LIMITED Website www.richlyeldchinagroup.com Unit 1504, 15/F, Tower 2, Metroplaza, No. 223 Hing Fong Road, Kwai Chung, New Territories, Hong Kong Annual Report 年報 2023 RICHLY FIELD CHINA DEVELOPMENT LIMITED 裕田中國發展有限公司 Contents 目錄 | 2 | CORPORATE INFORMATION | | --- | -- ...

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告之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何 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。 RICHLY FIELD CHINA DEVELOPMENT LIMITED 裕 田 中 國 發 展 有 限 公 司 （於開曼群島註冊成立及於百慕達持續經營之有限公司） 313 （股份代號： ） 截至二零二三年三月三十一日止年度之年度業績 裕田中國發展有限公司（「本公司」）董事（「董事」）會（「董事會」）謹此公佈本公司及 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（「本年度」或「報 告期」）之經審核綜合年度業績，連同截至二零二二年三月三十一日止年度（「相應年 度」）之比較數字及選定說明附註如下： 綜合損益及其他全面收益報表 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 ...

RICHLY FIELD CHINA DEVELOPMENT LIMITED 裕 田 中 國 發 展 有 限 公 司 RICHLY FIELD (Incorporated in the Cayman Islands and continued in Bermuda with limited liability) (於開曼群島註冊成立及於百慕達持續經營之有限公司) (Stock Code 股份代號 : 313) LATITUDE Interim Report 中期報告２０２２/２３ u | --- | --- | --- | |----------|-------|-----------------------------------------------------------------------------------------------------------------| | Contents | 2 | Corporate Information 公司資料 | | 目錄 | 5 | Property Portfolio 物業組合 | | | 6 | Management Discussion ...