Chuang's Consortium International Limited Chuang's Consortium International Limited（莊 士 機 構 國 際 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2024年3月31日 止 年 度 之 綜 合 全 年 業 績 如 下： 業 務 (a) 於2023年2月1日，本 集 團 與 一 名 獨 立 第 三 方 訂 立 臨 時 買 賣 協 議，以 現 金 代 價70,300,000港 元 出 售 香 港 九 龍 珀 • 軒 之18個 住 宅 單 位。該 出 售 已 於2023年5月3日 完 成，並 已 於 本 財 政 年 度 確 認 收 入。 (c) 誠 如2024年5月9日 所 公 佈，本 集 團 與 一 名 獨 立 第 三 方 訂 立 協 議，以 代 價33,000,000美 元（相 等 於 約258,000,000港 元）出 售 位 於 蒙 古 國 之 國 際 金 融 中 心 辦 公 大 樓。該 出 售 已 於2024年6月19日 完 成。 ...

Financial Performance - The group reported a loss attributable to equity holders of HKD 484,845,000 for the six months ended September 30, 2023, compared to a loss of HKD 429,379,000 in the same period of 2022[3]. - The group recorded a gross loss of HKD 20.3 million due to impairment provisions for properties held for sale, compared to a gross profit of HKD 110.3 million in 2022[39]. - The operating loss increased to HKD 532,759,000 from HKD 449,791,000 year-over-year, indicating a worsening financial performance[194]. - The company incurred a net loss of HKD 566,568,000 for the period, compared to a net loss of HKD 503,501,000 in the prior year[194]. - Basic and diluted loss per share was HKD 28.99, compared to HKD 25.67 in the previous year, reflecting a decline in shareholder value[194]. Revenue and Sales - The group's revenue for the six months ended September 30, 2023, increased to HKD 215.7 million, up from HKD 148.7 million in 2022, primarily due to increased property sales[39]. - Property sales revenue amounted to HKD 121.9 million, a significant increase from HKD 1.4 million in 2022[39]. - Revenue for the same period was HKD 70.6 million, up from HKD 38.8 million in 2022, driven by property sales revenue of HKD 49.7 million, significantly higher than HKD 1.4 million in the previous year[111]. Expenses and Costs - The group incurred finance costs of HKD 112,021,000 for bank borrowings, an increase from HKD 69,096,000 in 2022[13]. - Sales and marketing expenses increased to HKD 12,700,000 (2022: HKD 7,300,000) due to increased sales activities[59]. - Administrative and other operating expenses decreased to HKD 117,300,000 (2022: HKD 148,600,000) primarily due to reduced business activities and cost savings[59]. - Financing costs rose to HKD 78,800,000 (2022: HKD 65,300,000) mainly due to increased interest rates[59]. Dividends and Shareholder Returns - The group did not declare an interim dividend for the six months ended September 30, 2023, consistent with the previous year[2]. - The group did not declare an interim dividend for the six months ended September 30, 2023, maintaining a conservative approach in the current uncertain business environment[40]. Assets and Liabilities - Total cash reserves, including bonds and securities investments, amounted to HKD 2,600,000,000, with cash and bank balances totaling approximately HKD 2,500,000,000[37]. - The total borrowings as of September 30, 2023, were HKD 3,954,051,000, down from HKD 4,227,715,000 as of March 31, 2023[9]. - The net asset value attributable to equity holders of the company is HKD 8.6733 billion[57]. - The company's net asset value attributable to equity holders is HKD 8,673,300,000, with a net asset value per share of HKD 5.19 as of September 30, 2023[177]. Market and Investment Strategy - The group anticipates recognizing approximately HKD 20,000,000 in revenue from property sales contracted in the previous fiscal year, expected to complete in the second half of the current fiscal year[71]. - The group is strategically reviewing the business development and operational model of New Nylon post-sale[131]. - The group anticipates a recovery in the Hong Kong property market due to expected interest rate stabilization and government incentives[136]. Property Development and Sales - The group successfully sold 18 residential units in Kowloon for HKD 70.3 million, completed on May 3, 2023, and a commercial unit for HKD 33.8 million, completed on June 8, 2023[54]. - The group has sold 183 out of 322 residential units in the ONE SOHO project, generating total revenue of approximately HKD 1.3 billion, with an additional 17 units sold post-reporting period for HKD 114.6 million[56]. - The overall construction of a development project is expected to be completed in Q1 2024, with occupancy permits anticipated in Q2 2024[74]. Impairments and Fair Value Losses - The fair value loss on investment properties was HKD 206,300,000 (2022: HKD 112,800,000), primarily due to a decrease in market value[81]. - The company recorded an impairment provision of approximately HKD 40,400,000 due to declining property market conditions and rising interest rates[91]. Investment Portfolio - The company holds investments totaling HKD 233,700,000, including HKD 102,300,000 in listed bonds and HKD 800,000 in listed securities[155]. - The investment in Beihai Group Limited and Zhongqi Group Limited has a total book value of approximately HKD 116 million as of September 30, 2023, down from HKD 142 million as of March 31, 2023[131]. Operational Updates - The company completed the sale of a retail property in Kowloon for HKD 33,800,000, reinforcing its strategy to divest non-core assets[60]. - The company is actively seeking suitable opportunities to expand its investment property portfolio to increase stable income[121]. - The company is in the process of negotiating with local authorities regarding land use rights for future development projects[124].

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 之 中 期 業 績 Chuang’s Consortium International Limited（莊士機構國際有限公司）（「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 業務 1. 於回顧期內，本集團已成功出售以下物業，該等出售貫徹本集團於非核心 資產投資減持的策略。其銷售收益已進一步加強本集團的財務狀況。 (a) 於2023年2月1日，本 集 團 與 一 名 獨 立 第 三 方 訂 立 臨 時 買 賣 協 議，以 現 金 代 價70,300,000港 元 出 售 香 港 九 龍 珀 • 軒 之18個 住 宅 單 位。該 出 售 已 於2023年5月3日完成，並已於本期內確認收入。 ...

Construction and Development Projects - The group is developing a vertical residential building with a total floor area of approximately 44,537 square feet, expected to be completed by the end of 2023[1]. - The building will feature a luxurious living and dining area with a height of 6 meters, an entertainment floor, and six residential suite floors, each with a minimum height of 3.5 meters[1]. - The project includes a garden area of about 5,200 square feet and a rooftop area of approximately 2,200 square feet[1]. - The concrete structure work for the upper building is progressing on schedule, with the base completed and construction reaching the 7th floor[1]. - The company plans to evaluate the best timing for the redevelopment of its commercial/industrial property in Hong Kong, which has a total floor area of approximately 47,258 square feet[115]. - The company is constructing a 26-story mixed-use building on a site of approximately 3,600 square feet, with an expected completion date in the second quarter of 2024[147]. - The group has successfully merged a project covering approximately 3,600 square feet, with a total floor area of about 34,741 square feet for a 26-story residential and commercial building, expected to be completed in Q2 2024[165]. - ONE SOHO project will provide a total residential floor area of approximately 112,200 square feet and commercial floor area of about 22,400 square feet, including 322 residential units[172]. Financial Performance - The company reported a total cash donation and sponsorship amounting to HKD 2,718,000, a decrease from HKD 8,160,000 in the previous year[45]. - The company reported a revenue of $21 billion for the fiscal year 2023, representing a year-over-year growth of 15%[200]. - The company's revenue for the year ended March 31, 2023, decreased to HKD 251.7 million, down from HKD 666.4 million in 2022, primarily due to the sale of properties in Tuen Mun and the absence of revenue from previously sold projects in Vietnam[133]. - Rental income and other income from investment properties amounted to HKD 141.2 million, compared to HKD 159.2 million in 2022[133]. - The company recorded a gross loss of HKD 15.2 million, a significant decline from a gross profit of HKD 441.9 million in 2022, attributed to impairment provisions for properties[134]. - The fair value loss on investment properties was HKD 532.7 million, compared to a gain of HKD 36.1 million in 2022, reflecting a decrease in property market values[134]. - The company reported a loss attributable to equity holders of HKD 966.3 million for the year, compared to a loss of HKD 523.1 million in 2022, with a loss per share of HKD 0.5777[136]. - The group reported a loss attributable to equity holders of HKD 328,700,000 for the year ending March 31, 2023, compared to a profit of HKD 227,800,000 in 2022[177]. - Revenue for the group was HKD 63,000,000, down from HKD 204,500,000 in 2022, including property sales revenue of HKD 1,400,000[177]. - The group has contracted property sales of approximately EUR 5,700,000 (equivalent to about HKD 48,800,000), expected to be recognized as revenue in Q3 2023[177]. Environmental Impact and Sustainability - The total indirect greenhouse gas emissions (Scope 2) were recorded at 2,783 metric tons of CO2 equivalent, slightly down from 2,795 metric tons[43]. - The total water consumption increased to 54,261 cubic meters from 45,803 cubic meters, indicating a rise in resource usage[43]. - The total paper consumption decreased to 3,893 kilograms from 4,650 kilograms, reflecting an improvement in resource efficiency[43]. - The company plans to upgrade heating, ventilation, and air conditioning systems to more energy-efficient models, aiming to reduce energy consumption and greenhouse gas emissions[48]. - The group is committed to increasing the number of properties with green building certification in its Hong Kong developments[48]. - The company aims to manage its environmental impact through various strategies, although no significant impact on natural ecosystems was reported[102]. - Total greenhouse gas emissions (Scope 1 and 2) decreased from 3,253 to 3,018 metric tons of CO2 equivalent[94]. - Total energy consumption increased from 6,294,043 to 6,456,438 kilowatt-hours[94]. - The company encourages employees to participate in environmental initiatives, including energy-saving technologies and reducing unnecessary energy use after hours[48]. Employee and Organizational Development - The company emphasizes employee development through comprehensive training programs aimed at enhancing professional skills and knowledge[57]. - The group has implemented a quality assurance process across its operations to ensure the health and safety of employees, contractors, and customers while delivering high-quality products and services[37]. - Employee headcount decreased from 264 to 239, with a notable reduction in senior management from 21 to 19[96]. - Employee turnover rate for males increased from 26% to 30%, while for females it rose from 18% to 26%[96]. - The company reported a total of 239 employees, all of whom are full-time[96]. - The group maintains a whistleblowing system to report any misconduct or irregularities, ensuring fair investigation through its audit committee[64]. Strategic Initiatives and Market Position - The company has operations in Hong Kong, China, and Malaysia, with a focus on environmental activities in these regions[95]. - The report indicates that the company has ceased operations in Beijing, removing it from the reporting scope[95]. - The company is considering various strategies, including potential sales, to maximize returns from its residential property in Deep Water Bay, Hong Kong[118]. - The company has initiated promotional efforts for its investment property project in Mongolia, which is expected to become one of the tallest office buildings in the country upon completion[121]. - The company completed a strategic acquisition of a tech startup for $300 million, expected to enhance its product offerings and market position[200]. - The company plans to implement a new marketing strategy, allocating an additional $100 million to digital advertising[200]. - Overall, the company remains optimistic about future growth, citing strong demand and a robust pipeline of new products[200].

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 Consortium International Limited（莊士機構國際有限公司）（「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 業務 1. 自2022年4月1日以來，本集團已成功出售以下物業，該等出售貫徹本集團 於 非 核 心 資 產 投 資 減 持 的 策 略。其 銷 售 收 益 已 進 一 步 加 強 本 集 團 的 財 務 狀況。 (a) 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 ...

Financial Performance - The group's revenue for the six months ended September 30, 2022, decreased to HKD 148.7 million, down from HKD 481.1 million in 2021, primarily due to the sale of properties in Tuen Mun and Vietnam in the previous year[29]. - Property sales revenue was HKD 1.4 million, a significant drop from HKD 270.4 million in 2021, while rental income and other income totaled HKD 74.3 million, down from HKD 79.4 million[29]. - Gross profit decreased to HKD 110.3 million from HKD 302.4 million, but the gross profit margin increased to 74.2% from 62.9% due to a lower proportion of revenue from the property sales segment[29]. - The group reported a loss attributable to equity holders of HKD 429.4 million, compared to a profit of HKD 287.3 million in 2021, with a loss per share of HKD 0.2567[34]. - The total comprehensive loss for the period was HKD 814,616,000, compared to a comprehensive income of HKD 626,815,000 in 2021, reflecting a change of approximately 230.0%[116]. - The company reported a net loss of HKD 503,501 million for the period, highlighting challenges in operational performance[146]. - The company reported a total comprehensive loss of HKD 628,911,000 for the period, compared to a total comprehensive loss of HKD 503,501,000 in the previous period[124]. Asset Management - The group completed the sale of a property in Dongguan, China, for approximately RMB 132.1 million (around HKD 149.7 million), enhancing its financial position with a net cash inflow of approximately RMB 127.6 million (around HKD 144.6 million) after taxes[18]. - The group is in the process of selling land and factory buildings in Singapore for SGD 21 million (approximately HKD 118.4 million), expecting a net gain of SGD 15.2 million (approximately HKD 85.7 million) upon completion, projected within 2023[19]. - The group has agreed to sell assets related to a ship project for up to EUR 17 million (approximately HKD 131 million), which will further adjust its investment strategy and increase operational funds[20]. - The company completed the sale of a subsidiary for approximately HKD 149,700,000, resulting in a loss on the sale of HKD 156,500,000[158]. - The company’s cash inflow from the sale of subsidiaries was HKD 1,458,001,000, reflecting a significant liquidity event for the organization[195]. Investment and Development Projects - The ONE SOHO project has pre-sold 191 units with a total pre-sale value of approximately HKD 1.36 billion, targeting an estimated total sales value of HKD 2.3 billion[23]. - The group is developing a vertical residential building on Po Shan Road, with a total floor area of approximately 44,531 square feet, expected to be completed by the end of 2023[24]. - The group has successfully merged a redevelopment project on Gai Zhi Street, with approved plans for a 26-story mixed-use building, expected to be completed in the second half of 2023[25]. - The project at 16-20 Gough Street, Central, Hong Kong, has a total floor area of approximately 34,739 square feet and is expected to be completed in the second half of 2023[52]. - The project at 28 Po Shan Road, Hong Kong, is being developed into an eight-story luxury residential building with a total floor area of approximately 44,531 square feet, expected to be completed by the end of 2023[55]. - The ONE SOHO project in Mong Kok, Hong Kong, will provide a total residential floor area of approximately 112,200 square feet and is expected to obtain completion in Q1 2023[57]. Financial Position and Liquidity - The group has a total cash reserve of HKD 4.4 billion, including cash and bank deposits of approximately HKD 4.2 billion[26]. - The net asset value attributable to equity holders of the company is HKD 9.75 billion[27]. - The group's net debt to equity ratio stands at 8.8%[28]. - The company's cash and bank balances, along with bond and securities investments, totaled HKD 4,443,600,000 as of September 30, 2022, compared to HKD 5,170,800,000 as of March 31, 2022, indicating a decline of about 14.09%[95]. - The company's total liabilities decreased from HKD 2,499,260,000 to HKD 2,292,499,000, a reduction of approximately 8.3%[121]. - The company reported a net interest income received of HKD 14,543,000, compared to no income in the previous year, showing a positive shift in financial performance[123]. Market Outlook and Strategy - The company anticipates a gradual recovery in the Hong Kong property market and economy as social distancing measures are eased and quarantine-free travel resumes[99]. - The company plans to seek opportunities to monetize investments in various properties and reduce holdings in non-core assets to enhance financial resources and capabilities for land reserves in Hong Kong, particularly in the luxury and affordable housing markets[99]. - The implementation of the above strategies is expected to improve the company's profitability and financial condition, creating more value for shareholders[99]. Operational Challenges - The net loss from other income and losses was HKD 278.3 million, compared to a loss of HKD 567.4 million in 2021, mainly due to losses from bond investments[33]. - The company has ceased hotel operations after selling its hotel in Hong Kong as of March 31, 2022, and has reclassified related performance as discontinued operations[128]. - The company reported a loss from joint ventures of HKD 7,186,000 in 2022, compared to a profit of HKD 1,354,000 in 2021[162].

Financial Performance - The group recorded a total revenue of HKD 666,400,000 for the fiscal year, a decrease from HKD 2,089,500,000 in 2021, primarily due to reduced sales from the Tuen Mun project[24]. - The group has recorded a gross profit of HKD 441,900,000, with a gross profit margin of 66.3%, up from 46.7% in 2021[24]. - The company's loss attributable to equity holders was HKD 523,100,000, compared to a profit of HKD 37,500,000 in 2021, with a loss per share of HKD 0.3128[29]. - For the year ending March 31, 2022, the group reported a profit attributable to shareholders of HKD 227,800,000, a decrease from HKD 419,000,000 in 2021, with total revenue of HKD 204,500,000 compared to HKD 1,779,700,000 in 2021[94]. - Other income and net loss amounted to a loss of HKD 1,747,900,000, compared to a net income of HKD 324,300,000 in 2021, primarily due to unrealized fair value losses on bond investments[25]. Cash and Debt Management - The group’s cash reserves totaled HKD 5,170,000,000, with cash and bank balances increasing by 82% to HKD 4,180,000,000[18]. - The net debt to equity ratio improved to 2.2% from 12.9% in 2021, reflecting a stronger financial position[20]. - The cash and bank balances, along with bond and securities investments, amount to HKD 5,170,800,000 as of March 31, 2022, compared to HKD 5,633,400,000 in 2021[187]. - The outstanding customer loans as of March 31, 2022, amount to approximately HKD 174,800,000, an increase from HKD 169,600,000 in 2021[185]. - The total face value of overdue bonds as of March 31, 2022, is approximately HKD 322,500,000, with a total market value of about HKD 43,700,000[176]. Dividends and Shareholder Returns - The group has proposed a total dividend of HKD 0.28 per share for the year, an increase of approximately 8.3 times compared to HKD 0.03 per share in 2021[20]. - The board proposed a final dividend of HKD 0.02 per share for the year ending March 31, 2022, up from HKD 0.015 in 2021, with total dividends for the year amounting to HKD 0.28 per share, an increase of approximately 8.3 times[30]. Project Developments - The group plans to complete the construction of the ONE SOHO project in the first quarter of 2023, with total pre-sales amounting to approximately HKD 1,360,000,000[12]. - The group is optimistic about the prospects of the Central project, which has received approval for a 26-story mixed-use building[14]. - The company is developing a project in Central Hong Kong with a total floor area of approximately 34,871 square feet, with foundation works underway and expected completion in Q2 2023[76]. - The company is developing a residential project in Taipei, generating rental income of approximately HKD 2.1 million from serviced apartments[70]. - The project in Guangzhou has completed the first two phases, with a total floor area of approximately 260,800 square meters, providing 2,077 residential units and 1,497 parking spaces[136]. Sales and Marketing - Sales and marketing expenses decreased to HKD 32,200,000 from HKD 110,900,000 in 2021, primarily due to reduced sales commission amortization[28]. - The group has initiated marketing strategies for the new residential project, which is expected to be completed by the end of 2023[13]. - The total sales revenue from the 371 residential units in Tuen Mun was approximately 1.7185 billion HKD, with 365 units and 3 parking spaces delivered in the previous fiscal year[130]. Investment Properties - The group’s investment properties in Tuen Mun generated an annual rental income of approximately HKD 2,600,000, with the property valued at approximately HKD 175,900,000 as of March 31, 2022[97]. - The total rental income from a commercial property in Shenzhen was HKD 13,700,000 for the year ending March 31, 2022, with a new lease agreement generating initial monthly rent of RMB 680,000[48]. - The company is actively promoting leasing for its properties, including 18 residential units in a mixed-use building, generating rental income of approximately HKD 2.8 million[63]. Employee and Operational Management - The group has 168 employees as of March 31, 2022, excluding the China division, which has 112 employees[192]. - The group emphasizes training and development for employees, providing various benefits including discretionary bonuses, double pay, and medical insurance[192]. - The company plans to enhance its financial resources by divesting non-core assets and increasing land reserves in Hong Kong, particularly in the luxury and affordable housing markets[191]. Market Conditions and Future Outlook - The company anticipates a gradual recovery in the Hong Kong property market and economy as social distancing measures are lifted and quarantine-free travel resumes[191]. - The company is closely monitoring foreign exchange risks due to its operations outside Hong Kong, although significant impacts on operations are not expected[190]. - The company plans to explore more leasing options to enhance occupancy rates in its shopping mall properties, particularly in response to the impacts of COVID-19[37].

Financial Performance - The profit attributable to equity holders increased approximately 4.8 times to HKD 287,300,000 compared to HKD 49,200,000 in the previous year[29]. - For the six months ending September 30, 2021, the group recorded a profit attributable to equity holders of HKD 767,900,000, compared to HKD 423,400,000 in 2020[62]. - The company's revenue for the six months ended September 30, 2021, was HKD 1,847,298,000, representing a significant increase from HKD 496,613,000 in the same period of 2020[158][163]. - Gross profit for the same period was HKD 789,411,000, compared to HKD 309,632,000 in 2020, indicating a gross margin improvement[166][167]. - Operating profit increased to HKD 799,969,000 from HKD 436,570,000 year-over-year, reflecting a strong operational performance[180]. - Profit before tax rose to HKD 739,820,000, up from HKD 191,773,000 in the previous year, showcasing substantial growth[189]. - The net profit for the period was HKD 589,769,000, compared to HKD 23,435,000 in 2020, marking a remarkable turnaround[194]. Property Sales and Developments - The group successfully sold a subsidiary holding a property project in Panyu, China, for approximately RMB 1,574,900,000 (equivalent to about HKD 1,896,700,000), recording a net gain of approximately HKD 1,040,000,000 during the period[18]. - The group sold the Vietnam project Green Landscape Garden for approximately USD 25,600,000 (equivalent to about HKD 198,900,000), resulting in a net profit of approximately HKD 84,000,000[18]. - For the ONE SOHO joint venture project in Mong Kok, 184 units have been pre-sold, generating a total pre-sale amount of approximately HKD 1,300,000,000, with an estimated total sales target of approximately HKD 2,300,000,000[19]. - The Tuen Mun project has sold all 371 residential units and 6 parking spaces, with total sales amounting to approximately HKD 1,715,800,000, and some units delivered during the review period[24]. - The Ap Lei Chau project has received approval for construction plans for a 27-story residential and commercial building, with foundation works currently underway and expected completion by the end of the fiscal year[22]. Financial Position and Cash Reserves - Total cash reserves, including bonds and securities investments, increased by 16% to HKD 6,500,000,000[29]. - The net asset value attributable to equity holders rose to HKD 11,604,800,000[29]. - The net debt to equity ratio improved to 2.5% from 12.9% as of March 31, 2021[29]. - The group's cash and bank balances, along with bond and securities investments, totaled HKD 6,543,200,000, an increase from HKD 5,633,400,000 on March 31, 2021[134]. - The net debt to equity ratio was only 2.5% as of September 30, 2021, significantly down from 12.9% on March 31, 2021[134]. Hotel Operations - Total revenue from the hotel in Hong Kong was approximately HKD 19,800,000, an increase from HKD 8,900,000 in the previous year[44]. - Room revenue for the hotel was HKD 15,500,000, up from HKD 4,300,000 in the previous year[44]. - Average occupancy rate for the hotel increased to approximately 61% from about 52% in the previous fiscal year[45]. - The group has implemented cost-saving measures while maintaining service levels to mitigate the impact of the pandemic on hotel operations[45]. - The group is exploring options, including the potential sale of the hotel and its associated company, but no agreements have been finalized as of the report date[48]. Investment Strategies - The group is considering various strategies, including potential sales, to maximize returns from investments in properties in Hong Kong and Mongolia[48][52]. - The company plans to continue reviewing its tenant mix and consider further upgrades to properties to enhance rental yields and occupancy rates[74]. - The company is actively seeking suitable opportunities to expand its investment property portfolio for stable and recurring income[75]. - The group has diversified its bond investments across multiple issuers, including major real estate developers in China[116]. - The interest income from the bond portfolio reflects the group's strategy to maintain a balanced investment approach while managing risks associated with the real estate market[116]. Operational Efficiency - The company is reviewing its organizational structure to enhance resource allocation efficiency[138]. - The management believes that the implementation of these strategies will improve profitability and financial condition, creating more value for shareholders[138]. - The company employed 216 staff members as of September 30, 2021, excluding its subsidiary, which had 129 employees, highlighting its commitment to talent development[155]. Shareholder Matters - The company has not repurchased any shares during the reporting period, maintaining its capital structure[153]. - The audit committee has reviewed the interim financial information in accordance with the relevant standards, ensuring compliance and accuracy in financial reporting[149]. - The company plans to suspend share transfer registration from December 22 to December 28, 2021, to determine the list of shareholders eligible for the interim dividend[153]. - The company has adopted a share option scheme to recognize the contributions of eligible individuals to the group's growth, although no options have been granted to date[154].

Financial Performance - Revenue increased 2.5 times to HKD 2,106,800,000[13] - The company recorded a profit attributable to equity holders of HKD 37,500,000, turning from a loss to a profit[13] - Total revenue for the year was HKD 2,106,800,000, a 2.5 times increase from HKD 599,000,000 in 2020, with property sales contributing HKD 1,651,600,000[15] - The company's profit attributable to equity holders for the year ended March 31, 2021, was HKD 37,500,000, compared to a loss of HKD 705,100,000 in 2020, resulting in earnings per share of HKD 2.24, up from a loss of HKD 42.16 per share in 2020[15] - Gross profit increased to HKD 979,200,000, up from HKD 424,300,000 in 2020, although the gross margin decreased to 46.5% from 70.8% due to a higher proportion of lower-margin property sales[16] - Other income and net gains amounted to HKD 306,300,000, compared to a net loss of HKD 151,700,000 in 2020, primarily due to unrealized gains from bond investments[18] Cash and Investments - Total cash reserves, including bonds and securities investments, increased by 14% to HKD 5,600,000,000[13] - The net asset value attributable to equity holders was HKD 11,311,200,000[13] - The net debt to equity ratio improved from 19.2% to 12.9%[13] - The group holds investments valued at HKD 3,442,200,000 as of March 31, 2021, with HKD 3,334,800,000 in high-yield bonds[130] - The total market value of bonds held as of March 31, 2021, was HKD 3,334,845,000, representing 15.5% of the group's total assets[140] Dividends and Shareholder Returns - The company proposed a final dividend of HKD 0.015 per share[13] - The company proposed a final dividend of HKD 0.015 per share for the year, totaling approximately HKD 50,200,000, compared to HKD 25,100,000 in 2020[20] - The board of directors has approved a dividend of $K per share, representing a L% increase from the previous dividend payout[172] Property Development and Sales - The ONE SOHO project has pre-sold 148 units with a total pre-sale value of approximately HKD 1,000,000,000[7] - The company successfully completed the sale of a UK investment property for approximately GBP 93,800,000 (approximately HKD 971,500,000)[11] - The sale of the Panyu project in China was completed for a total consideration of approximately RMB 1,571,300,000 (approximately HKD 1,872,200,000)[11] - The company completed the sale of the Green Garden project in Vietnam for approximately USD 25.6 million (equivalent to about HKD 198.8 million), with a net profit of approximately HKD 85 million expected to be recorded in the fiscal year ending March 31, 2022[74] - 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 and a gross margin of about 37%[101] Rental Income and Property Management - Rental income from investment properties included HKD 48,700,000 from a commercial building in Central and HKD 34,900,000 from a shopping and entertainment complex in Tsim Sha Tsui[22][24] - The company is exploring opportunities to optimize tenant mix and restructure leases to mitigate the impact of COVID-19 on rental income[24] - The company has implemented measures to provide rental subsidies to tenants affected by the pandemic, aiming to support their operations during challenging times[24] - The total investment cost for the Xiamen project is approximately RMB 150,800,000 (approximately HKD 178,400,000), with the group's share of the valuation being about RMB 266,400,000 (approximately HKD 315,200,000)[86] - The group is exploring more leasing opportunities to enhance the occupancy of its commercial properties[95] Strategic Initiatives and Future Plans - The company is exploring the possibility of developing an eight-story residential building on the Bao Shan Road joint venture project[8] - The company plans to conduct detailed studies on the redevelopment of a commercial/industrial property in Sham Shui Po, with approved building plans for a mixed-use development[28] - The company is exploring the possibility of converting part of the hotel into office/residential use to increase overall flexibility and revenue sources[42] - The company is considering strategic acquisitions to bolster its market position, with potential targets identified in the H sector[172] - The company is investing in new technology development, allocating $E million towards R&D initiatives aimed at enhancing operational efficiency[172] Corporate Governance and Management - The company has appointed independent non-executive directors with extensive experience in finance and property investment, enhancing governance and oversight[186][187] - The management team includes professionals with over 22 years of experience in property development and sales, indicating strong leadership in the sector[189] - The company is committed to high levels of corporate governance, adopting the corporate governance code as per the Hong Kong Stock Exchange[193] - A new board diversity policy has been approved to enhance board effectiveness and support business strategy execution[194] - The company emphasizes integrity, industry experience, and commitment when evaluating candidates for board positions[200]

Financial Performance - Revenue increased 5.5 times to HKD 1,847,300,000[26] - Profit attributable to equity holders increased by 53.8% to HKD 49,200,000[26] - The company's profit attributable to equity holders for the six months ended September 30, 2020, was HKD 49,200,000, an increase of approximately 53.8% compared to HKD 32,000,000 in 2019[27] - Revenue for the six months ended September 30, 2020, was HKD 1,847,300,000, a significant increase of approximately 455.6% from HKD 286,000,000 in 2019[31] - Gross profit increased to HKD 789,400,000, with a gross margin of 42.7%, down from 75.7% in 2019, primarily due to a higher proportion of lower-margin property sales[31] - Other income and net gains amounted to HKD 212,100,000, a turnaround from a net loss of HKD 9,200,000 in 2019, mainly due to unrealized gains from bond investments[32] - Financing costs decreased to HKD 81,300,000 from HKD 134,300,000 in 2019, attributed to lower interest rates and reduced bank borrowings[33] - The company's comprehensive income for the period totaled HKD 381,857 thousand, compared to a loss of HKD 146,259 thousand in the previous year[160] - The company’s earnings per share (basic and diluted) increased to HKD 2.94 from HKD 1.91 in 2019, marking a growth of approximately 54%[158] - The company reported a significant fair value loss of HKD 436,570,000 on investments during the period[195] Cash and Debt Management - Total cash reserves (including investments held for trading) increased by 13% to HKD 5,600,000,000[26] - Net debt to equity ratio improved from 19.2% to 10.8%[26] - As of September 30, 2020, the group's cash and bank balances amounted to HKD 5,620,200,000, an increase from HKD 4,957,500,000 as of March 31, 2020[134] - The group's bank borrowings decreased to HKD 6,832,300,000 from HKD 7,085,700,000 as of March 31, 2020[134] - The outstanding amount of customer loans as of September 30, 2020, was approximately HKD 176,300,000, slightly down from HKD 178,900,000 on March 31, 2020[132] - The company is taking legal action to recover overdue payments to protect its interests[132] Dividends and Shareholder Returns - The company declared an interim dividend of HKD 0.015 per share[26] - The interim dividend declared is HKD 0.015 per share, consistent with the previous year's dividend[36] Property Development and Sales - The Tuen Mun Esplanade project pre-sold 366 units, with 358 units delivered to buyers during the period[24] - The company is optimistic about the redevelopment project at 16-20 Gough Street, with a planned total floor area of approximately 36,000 square feet[18] - The Mong Kok joint venture project is on schedule, with construction of a mixed-use building including 322 residential units[22] - Property sales revenue accounted for HKD 1,617,400,000, compared to HKD 14,800,000 in 2019, reflecting a substantial increase[31] - The total sales revenue from the residential units at the Tuen Mun project was approximately HKD 1,653,100,000, with 366 units sold[84] - The estimated total sales value for the residential portion of a new project is approximately HKD 2,200,000,000, with the group's share expected to be around HKD 900,000,000[60] Hotel and Resort Performance - Total revenue from hotels during the review period was approximately HKD 8,900,000, a decline of 74.5% compared to HKD 34,800,000 in 2019[43] - Room revenue was approximately HKD 4,300,000, down from HKD 30,000,000 in 2019, reflecting a decrease of 85.7%[43] - Average room rate dropped to approximately HKD 448, down from HKD 686 in 2019, a decrease of 34.7%[43] - Average occupancy rate fell to about 13%, down from 60% in 2019, a decline of 78.3%[43] - The hotel business (excluding rental income) recorded a loss of approximately HKD 6,200,000, compared to a profit of HKD 5,600,000 in 2019[43] - Revenue from the Cebu Pacific Resort in the Philippines dropped to approximately HKD 800,000, down from HKD 18,800,000 in 2019, a decrease of 95.7%[50] Investment and Securities - The group has completed the sale of two villas in Guangzhou, with the remaining 18 villas valued at approximately RMB 145,400,000 (approximately HKD 165,300,000)[74] - The group is exploring various strategies to accelerate capital returns from its investments in Vietnam, including potential sales[60] - The group’s securities investment and trading business generated a net realized gain of HKD 1.9 million, with dividend and interest income from investments amounting to HKD 106.5 million, and unrealized fair value gains of HKD 190.7 million[112] - As of September 30, 2020, the group held investments totaling HKD 2,893.2 million, with HKD 2,811 million in high-yield bonds and HKD 1.9 million in listed securities[113] Operational Challenges and Responses - The construction of a new commercial building in Mongolia has been temporarily halted due to COVID-19 restrictions, with ongoing monitoring of the situation[42] - The company has provided rental subsidies to tenants affected by the current market conditions to alleviate their operational pressures[39] - The impact of COVID-19 has led to slow business activities and leasing progress, prompting the group to consider legal actions for unpaid rents[71] - The ongoing COVID-19 pandemic has increased uncertainty in property market valuations, potentially affecting future fair values of investment properties[187] - The group anticipates a challenging operating environment for the second half of the fiscal year due to ongoing geopolitical tensions and the COVID-19 pandemic[139] Future Outlook and Strategic Plans - The company is exploring options to accelerate capital returns from the Po Shan Road joint venture project, including potential sales[19] - The company is exploring rental opportunities in various business segments to expand its tenant base and stabilize income[36] - The company plans to commence pre-sales for a new project in the first quarter of 2021, pending approval for 322 residential units[60] - The company plans to expand its market presence and invest in new technologies to enhance operational efficiency[192] - The company is focusing on diversifying its revenue streams through new product offerings and strategic partnerships[192]