Financial Performance - For the fiscal year ending March 31, 2024, the revenue was approximately HKD 226.8 million, an increase of about 22.3% compared to HKD 185.5 million for the fiscal year ending March 31, 2023[5]. - The gross profit for the fiscal year ending March 31, 2024, was approximately HKD 3.0 million, a slight decrease of about HKD 0.02 million or 0.5% from HKD 3.036 million in the previous year[5]. - The gross margin decreased from approximately 1.6% for the fiscal year ending March 31, 2023, to approximately 1.3% for the fiscal year ending March 31, 2024[5]. - The loss attributable to the owners of the company for the fiscal year ending March 31, 2024, was approximately HKD 17.7 million, a reduction of about HKD 8.3 million or 32.0% from HKD 26.0 million in the previous year[5]. - The basic loss per share for the fiscal year ending March 31, 2024, was approximately HKD 0.10, compared to HKD 0.15 for the fiscal year ending March 31, 2023[7]. - The total comprehensive loss for the fiscal year ending March 31, 2024, was approximately HKD 18.8 million, down from HKD 28.1 million in the previous year[6]. - The group reported a pre-tax loss of HKD 224,784,000 for 2024, compared to HKD 182,430,000 in 2023, indicating an increase in costs[40]. - The total tax expense for the year was HKD 64,000, compared to a tax credit of HKD 178,000 in 2023, marking a significant shift[43]. - The group reported a net impairment loss of HKD 651,000 in 2024, down from HKD 1,891,000 in 2023, showing a decrease of 65.5%[40]. Revenue Breakdown - Jewelry product sales accounted for HKD 140,198,000 in 2024, significantly up from HKD 47,903,000 in 2023[24]. - Sales of precious metals and jewelry raw materials decreased to HKD 86,556,000 in 2024 from HKD 137,569,000 in 2023, representing a decline of 37.0%[24]. - Revenue from Hong Kong decreased to HKD 91,997,000 in 2024 from HKD 150,158,000 in 2023, a drop of 38.6%[27]. - Revenue from mainland China surged to HKD 134,757,000 in 2024, up from HKD 35,314,000 in 2023, marking an increase of 282.5%[27]. - The company's revenue for the year ended March 31, 2024, was approximately HKD 226.8 million, an increase of about HKD 41.3 million or 22.3% compared to the previous year[66]. - Sales revenue from mainland China significantly increased by approximately HKD 99.4 million or 281.6%, while sales revenue from Hong Kong decreased by approximately HKD 58.2 million or 38.7%[66]. Assets and Liabilities - The total assets as of March 31, 2024, were approximately HKD 83.3 million, a decrease from HKD 102.1 million as of March 31, 2023[9]. - The total liabilities as of March 31, 2024, were approximately HKD 29.0 million, compared to HKD 30.0 million as of March 31, 2023[9]. - The group’s non-current assets in Hong Kong decreased to HKD 2,261,000 in 2024 from HKD 3,407,000 in 2023[30]. - Trade receivables surged to HKD 11,030,000 in 2024, a substantial increase from HKD 609,000 in 2023, indicating a growth of 1,711%[51]. - Current assets as of March 31, 2024, are approximately HKD 62.9 million, down from HKD 79.7 million in 2023, with cash and bank balances at approximately HKD 36.4 million[76]. - The current ratio as of March 31, 2024, is approximately 7.5, compared to 10.1 in 2023[76]. - The group’s trade payables decreased to HKD 11,000 in 2024 from HKD 22,000 in 2023, a reduction of 50%[54]. Corporate Governance and Compliance - The company has adopted corporate governance principles and has complied with the code provisions as of March 31, 2024[103]. - The roles of the Chairman and CEO are held by Dr. Su Shuhui and Mr. Xie Qixiang, respectively, ensuring a balance of power and authority[105]. - The company has adopted the standard code of conduct for securities trading as per the listing rules, confirming compliance for the fiscal year ending March 31, 2024[106]. - The audit committee, consisting of three independent non-executive directors, has reviewed the company's full-year performance for the fiscal year ending March 31, 2024, and confirmed adherence to applicable accounting standards[107]. - The company's auditor has verified the preliminary consolidated financial statements for the fiscal year ending March 31, 2024, ensuring consistency with the draft financial statements[108]. - The annual report for the fiscal year ending March 31, 2024, will include all information required by the listing rules and will be distributed to shareholders in due course[111]. Strategic Initiatives - The company is focusing on high-end art jewelry and has established good relationships with international and Hong Kong auction houses to enhance its market presence[61]. - The company plans to expand its online sales channels and improve customer experience through convenient shopping and customization options[62]. - The company is exploring opportunities to utilize augmented reality (AR) and blockchain technology to develop service platforms and enhance profitability[63]. - The company has launched a new collaboration with Sichuan Luzhou Laojiao Co., Ltd. to introduce a gift box series, showcasing its commitment to product innovation[59]. - The group aims to explore local and overseas business opportunities while enhancing brand awareness and product quality to strengthen market share[80]. - The group plans to invest more resources in marketing and product development to cater to diverse consumer preferences and shopping habits[80]. Employee and Operational Costs - Employee benefits, including director remuneration, rose to HKD 10,237,000 in 2024 from HKD 8,944,000 in 2023, reflecting a 14.4% increase[40]. - The company's administrative expenses decreased by approximately HKD 1.1 million or 5.6% to about HKD 18.2 million, attributed to optimized resource allocation and cost control[69]. - Financial costs for the year were approximately HKD 57,000, a reduction of about HKD 15,000 or 20.8% compared to the previous year due to the repayment of lease liabilities[71]. - As of March 31, 2024, the total employee cost is approximately HKD 10.2 million, an increase from HKD 8.9 million in the previous year[89]. Dividend and Shareholder Information - The company did not recommend the payment of a final dividend for the fiscal year ending March 31, 2024[5]. - The group did not recommend a final dividend for the year ending March 31, 2024, consistent with the previous year[48]. - The company adopted the 2023 Share Option Plan and terminated the 2015 Share Option Plan, which had not granted any options since its inception[92]. - On March 28, 2024, the board awarded 100,000 share rewards to Mr. Xie Qixiang, representing 0.0579% of the total shares on the grant date, and granted a total of 2,550,000 options to other participants[93]. Future Outlook and Investments - The group has no significant impact expected from the recent accounting standard amendments on its financial statements[20][21][22]. - The group has no capital commitments as of March 31, 2024, indicating a stable financial position[56]. - The group has no specific future plans for significant investments or acquisitions of major capital assets as of March 31, 2024[96]. - There were no major acquisitions or disposals of subsidiaries or associates during the year ended March 31, 2024[98]. - The group had no short-term secured borrowings as of March 31, 2024, consistent with the previous year[99]. - There were no significant contingent liabilities as of March 31, 2024, similar to the previous year[100]. - The company and its subsidiaries did not purchase, sell, or redeem any of the company's listed securities during the year ended March 31, 2024[101].

Revenue and Profitability - Revenue for the six months ended September 30, 2023, was approximately HK$130.4 million, representing an increase of approximately 50.2% compared to the same period in 2022[14]. - Gross profit for the same period was approximately HK$1.6 million, a decrease of approximately 8.2% compared to the prior year[14]. - Gross profit margin was approximately 1.2% for the six months ended September 30, 2023, down from approximately 2.0% for the same period in 2022[15]. - The Group's revenue for the six months ended 30 September 2023 was approximately HK$130.4 million, representing an increase of approximately HK$43.6 million or 50.2% compared to the same period in 2022[26][38]. - The increase in revenue was primarily driven by a rise in online sales of gold jewellery and accessories in the Hong Kong and Mainland China markets[38][39]. - Revenue for the six months ended September 30, 2023, increased to HK$130,444,000, up 50.4% from HK$86,825,000 in the same period of 2022[107]. - Sales of jewellery products amounted to HK$76,641,000, a significant increase from HK$10,200,000 in the previous year[191]. - Sales of precious metals and other raw jewellery materials were HK$53,803,000, a decrease from HK$76,625,000 in the same period of 2022[191]. Losses and Financial Position - The consolidated loss attributable to equity holders was approximately HK$9.1 million, an improvement from a loss of approximately HK$15.0 million in the corresponding period of 2022[16]. - Basic and diluted losses per share were approximately HK$0.05, compared to HK$0.09 for the same period in 2022[17]. - The Group recorded a consolidated loss attributable to equity holders of approximately HK$9.1 million, a decrease from approximately HK$15.0 million in the corresponding period of 2022, mainly due to a revenue increase of approximately HK$43.6 million or 50.2%[48]. - The loss on changes in fair value on listed equity securities investment decreased by approximately HK$7.0 million or 88.8% compared to the previous year[48]. - The company reported a loss of HK$9,048,000, compared to a loss of HK$14,976,000 for the same period in 2022, indicating a decrease in losses by approximately 39.4%[116]. - The total comprehensive loss for the period was HK$10,223,000, which includes an exchange difference loss of HK$1,175,000 from foreign operations[116]. - As of September 30, 2023, the company's accumulated losses increased to HK$143,898,000 from HK$134,850,000 as of April 1, 2023, reflecting a rise of approximately 6.4%[116]. Expenses and Cost Management - Administrative expenses decreased by approximately HK$0.7 million or 6.4%, totaling approximately HK$9.4 million for the period, primarily due to effective cost control measures[43][46]. - Selling expenses increased significantly by approximately HK$1.0 million or 331.5%, reaching approximately HK$1.3 million, mainly due to business operation adjustments and marketing expenses related to the DP31 Club[42][45]. - Operating loss widened to HK$8,937,000 from HK$8,143,000 year-on-year, indicating ongoing operational challenges[107]. - Net cash flows used in operating activities amounted to HK$17,474,000 for the six months ended September 30, 2023, compared to HK$7,879,000 for the same period in 2022, indicating an increase in cash outflow of approximately 121%[118]. Strategic Focus and Market Conditions - The group is focusing on the fine artistic jewellery market and expanding its product range to include gold products and materials[20][21]. - The retail industry is facing challenges due to rising interest rates and declining consumer confidence, which may impact future consumer spending[22]. - The management is committed to developing an asset-light service platform business in response to market changes[21]. - The reopening of borders and revival of tourism have provided a boost to the retail industry, despite the looming risk of a global economic downturn[22]. - The Group has adjusted its strategy to focus on fine artistic jewellery and gold products, leading to a significant increase in sales in the Hong Kong and Mainland China markets[26][39]. - The Group plans to broaden its online sales channels to enhance customer shopping and customization experiences, catering to diverse customer demands[29][31]. Financial Management and Governance - The Group maintained a healthy liquidity position and adopted prudent financial management policies throughout the period[53]. - The corporate governance practices adopted by the Company during the six months ended September 30, 2023, complied with the Corporate Governance Code[103]. - The Group has no definite plans for material investments and acquisitions of capital assets as of September 30, 2023[93]. - The Board did not alter the Group's investment strategy despite short-term market volatilities[91]. Employee and Shareholder Information - The Group had 11 employees as of 30 September 2023, an increase from 10 employees as of 31 March 2023[64]. - The 2023 Share Scheme was approved by shareholders on September 14, 2023, and will replace the existing Share Option Scheme[78]. - As of September 30, 2023, no grants have been made under the 2023 Share Scheme, leaving 17,260,000 Shares available for grant[80]. Financial Assets and Liabilities - As of 30 September 2023, the Group had current assets of approximately HK$69.3 million, down from approximately HK$79.7 million as of 31 March 2023[49]. - Cash and bank balances were approximately HK$43.7 million as of 30 September 2023, compared to approximately HK$62.6 million as of 31 March 2023[49]. - The current ratio was approximately 9.4 as of 30 September 2023, slightly down from approximately 10.1 as of 31 March 2023[49]. - The Group had non-current liabilities of approximately HK$0.6 million and current liabilities of approximately HK$7.4 million as of 30 September 2023[49]. - The Group held financial assets at fair value through profit or loss amounting to approximately HK$25,717,000, representing about 25.8% of total assets as of September 30, 2023[83]. - The financial assets include a life insurance policy valued at approximately HK$18,515,000, which is about 18.6% of total assets, and Hong Kong listed equity securities worth approximately HK$7,202,000, representing about 7.2% of total assets[84]. Accounting Policies and Financial Reporting - The unaudited condensed consolidated interim financial statements have been prepared in accordance with HKAS 34 "Interim Financial Reporting" and the applicable disclosure requirements of the Listing Rules[127]. - The significant accounting policies adopted in the preparation of the interim financial statements are consistent with those used in the Group's audited consolidated financial statements for the year ended March 31, 2023[129]. - The financial statements are unaudited, indicating that the figures may be subject to change upon final audit[198].

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的內容概不負責，對其準確性或完整性亦不 發表任何聲明，並明確表示，概不對因本公佈全部或任何部分內容而產生或因倚賴該等內容而引致的任何損 失承擔任何責任。 DOMAINE POWER HOLDINGS LIMITED 域 能 控 股 有 限 公 司 （ 於開曼群島註冊成立之有限公司） （股份代號：442） 截至2023年9月30日止六個月的中期業績公佈 財務摘要 截至2023年9月30日止六個月（「本期間」），域能控股有限公司（「本公司」）及其附屬公司（統 稱為「本集團」）取得收益約為130.4百萬港元，較截至2022年9月30日止六個月增加約 50.2%。 截至2023年9月30日止六個月，毛利約為1.6百萬港元，較截至2022年9月30日止六個月減少 約8.2%。 截至2023年9月30日止六個月，毛利率下降至約1.2%，而截至2022年9月30日止六個月則約 為2.0%。 截至2023年9月30日止六個月，本集團錄得股權持有人應佔綜合虧損約為9.1百萬港元，較 截至2022年9月30日止六個月減少約39.6%。 截至2023年9月30日止六個月，每股 ...

Financial Performance - Revenue for the year ended March 31, 2023, was approximately HK$185.5 million, representing an increase of approximately 36.9% compared to the previous year[17]. - Gross profit for the same period was approximately HK$3.0 million, an increase of approximately HK$0.6 million or 25.9% year-over-year[17]. - Gross profit margin decreased to approximately 1.6% for the year ended March 31, 2023, down from approximately 1.8% in the previous year[17]. - Loss attributable to owners of the Company was approximately HK$26.0 million, a decrease of approximately HK$52.2 million or 66.8% compared to the loss of approximately HK$78.2 million for the year ended March 31, 2022[17]. - Basic loss per share amounted to approximately HK$0.15, compared to HK$0.45 for the previous year[17]. - The Group recorded revenue of approximately HK$185.5 million for the year ended March 31, 2023, representing an increase of approximately HK$50.0 million or 36.9% compared to the previous year[116]. - The Group's gross profit for the year was approximately HK$3.0 million, with a gross profit margin of 1.6%, slightly down from 1.8% in the previous year[116]. - The Group's loss attributable to owners for the year was approximately HK$26.0 million, an improvement from a loss of HK$78.2 million in the previous year[116]. Revenue Sources - Revenue from sales in Hong Kong and Mainland China markets increased by approximately 83.6% to approximately HK$185.5 million compared to the same period last year[21]. - Revenue generated from sales in the European and American markets decreased to zero compared to the same period last year[20]. - Revenue from sales in Hong Kong increased by approximately HK$49.1 million or 48.6%, while revenue from sales in Mainland China doubled, increasing by approximately HK$35.3 million or 100%[117]. - Revenue generated from online sales increased by approximately 100% to approximately HK$35.3 million compared to the same period last year[26]. - The Group's customers primarily include wholesalers and retailers of jewellery products, as well as high-net-worth customers[95]. Strategic Adjustments - The management team adjusted its strategy to focus on fine artistic jewellery and online sales, which contributed to the revenue increase[21]. - The Group plans to expand online sales channels and enhance brand promotion through digital marketing and social media[27]. - The management is committed to the development of the fine artistic jewellery and service platform business to adapt to market changes[95]. - The Group has reallocated business resources to focus on fine artistic jewellery, gold products, and online sales, resulting in a significant increase in sales[98]. - The Group intends to continue focusing on innovation and design to improve product quality and meet customer needs, while also leveraging auction platforms for better performance[104]. Challenges and Market Conditions - The challenging business environment included factors such as COVID-19 restrictions and geopolitical tensions affecting traditional jewellery business[19]. - The Group has faced challenges due to the high infectiousness of the Omicron variant of COVID-19 and ongoing geopolitical tensions, impacting business operations[96][97]. - The cancellation of the international jewellery exhibition in Hong Kong negatively affected partnership opportunities within the industry[96]. - The geopolitical tensions and international trade sanctions have significantly impacted sales in the European and Americas markets, resulting in zero revenue from these regions[100]. Governance and Management - The Board consists of six Directors, including two executive Directors, one non-executive Director, and three independent non-executive Directors as of March 31, 2023[44]. - Dr. So Shu Fai has been appointed as the chairman of the Board and executive Director, with a background in management studies and extensive experience in governance[45]. - The Company has appointed independent non-executive directors with extensive experience in finance and accounting to strengthen governance[63]. - The executive directors are directly responsible for overseeing the implementation of the company's strategic objectives and business operations[80]. Financial Position and Investments - As at 31 March 2023, the Group had current assets of approximately HK$79.7 million, down from approximately HK$95.6 million in the previous year, with cash and bank balances of approximately HK$62.6 million[136]. - The current ratio as at 31 March 2023 was approximately 10.1, compared to approximately 15.1 in the previous year[136]. - Financial assets at fair value through profit or loss amounted to approximately HK$26.2 million, with a loss on changes in fair value of approximately HK$7.4 million recognized during the year[127]. - The Group's total staff costs for the year ended March 31, 2023, were approximately HK$8.9 million, a decrease from approximately HK$9.4 million for the previous year[158]. - The Group plans to continue seeking new opportunities both locally and abroad to enhance future growth[172]. Dividend and Capital Structure - The Board does not recommend the payment of a final dividend for the year ended March 31, 2023[18]. - There were no changes in the capital structure of the Company during the year ended March 31, 2023, and no capital commitments were reported[150][151]. - The Group did not have any material acquisitions or disposals of subsidiaries or affiliated companies during the year ended March 31, 2023[184]. Company Name and Branding - The company name was changed from "Hifood Group Holdings Co., Limited" to "Domaine Power Holdings Limited" on August 18, 2022[187]. - The stock short name changed from "HIFOOD GROUP" to "DOMAINE POWER" effective October 3, 2022, while the stock code remained "442"[189]. - The company's website and email address were updated to reflect the name change, effective September 28, 2022[196][197]. - The headquarters and principal place of business in Hong Kong were relocated effective November 22, 2022[198].

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的內容概不負責，對其準確性或完整性亦不 發表任何聲明，並明確表示，概不對因本公佈全部或任何部分內容而產生或因倚賴該等內容而引致的任何損 失承擔任何責任。 DOMAINE POWER HOLDINGS LIMITED 域 能 控 股 有 限 公 司 （ 於開曼群島註冊成立之有限公司） （股份代號：442） 截至2023年3月31日止年度的全年業績公佈 財務摘要 . 截至2023年3月31日止年度，收益約為185.5百萬港元，較截至2022年3月31日止年度 增加約36.9%。 . 截至2023年3月31日止年度，毛利約為3.0百萬港元，較截至2022年3月31日止年度增 加約0.6百萬港元或25.9%。 . 毛利率由截至2022年3月31日止年度約1.8%下降至截至2023年3月31日止年度約 1.6%。 . 截至2023年3月31日止年度，本公司擁有人應佔虧損約為26.0百萬港元，較去年減少 約52.2百萬港元或66.8%，而截至2022年3月31日止年度本公司擁有人應佔虧損約為 78.2百萬港元。 . 截至2023年3月31日止年度，每股基本虧損約為0 ...

Financial Performance - Revenue for the six months ended September 30, 2022, was approximately HK$86.8 million, representing an increase of approximately 26.1% compared to the same period in 2021[12]. - Gross profit for the same period was approximately HK$1.8 million, reflecting a decrease of approximately 51.1% from HK$3.7 million in the prior year, with a gross profit margin of approximately 2.0%[12]. - The consolidated loss attributable to equity holders was approximately HK$15.0 million, a significant improvement from a loss of approximately HK$68.0 million in the corresponding period of 2021[12]. - Basic and diluted losses per share for the six months ended September 30, 2022, amounted to approximately HK$0.09, compared to HK$0.39 for the same period in 2021[12]. - The operating loss for the six months ended September 30, 2022, was HK$8,143,000, compared to an operating loss of HK$67,978,000 in the prior year, showing an improvement[122]. - The loss before tax for the period was HK$14,977,000, a reduction from HK$67,978,000 in the previous year[122]. - The total comprehensive loss for the year attributable to owners of the company was HK$17,850,000, down from HK$67,619,000 in the previous year[124]. Sales and Marketing Strategy - The Group successfully sold its first set of fine artistic jewellery during the period, aiming to enhance its brand in the high-net-worth customer segment[16]. - The management plans to allocate more resources to sales and marketing to promote its fine artistic jewellery brand through online marketing[16]. - The Group plans to develop its online sales channel, starting with livestream e-commerce on Taobao in Mainland China, with expectations to expand to international markets in 2023[35]. - The Group aims to utilize established third-party online sales platforms to enhance cost-effectiveness in its sales strategy[37]. - The Group will allocate sales and marketing resources to promote its brand and products, participate in trade exhibitions, and utilize online marketing strategies[44]. Market Conditions and Economic Outlook - The global economic recovery is impacted by the prolonged COVID-19 pandemic, international trade sanctions, and geopolitical tensions, creating uncertainty for growth prospects[39]. - The Federal Reserve's interest rate hike cycle and tapering policy are slowing down consumption and investment sentiment, particularly affecting business opportunities in the U.S. due to the ongoing Sino-U.S. trade war[39]. - With effective prevention measures and global vaccine distribution, consumer demand is expected to further release, leading to a continued recovery in the luxury market[40]. - The Group plans to explore new business opportunities while continuing its existing operations to capitalize on the luxury market recovery[40]. Operational Developments - The Group is committed to developing a service platform and expanding its product range, including gold products and watches, targeting wholesalers, retailers, and high-net-worth customers[17]. - The Group may explore opportunities to acquire a controlling interest in an auction house to enhance its sales channels for fine artistic jewellery[31]. - The Group is considering developing a service platform utilizing augmented reality (AR) and blockchain technologies to increase service variety and profitability[36]. - The Group's revenue from sales in the Americas market decreased by 100.0% to zero for the six months ended September 30, 2022, compared to the same period last year[22]. - Revenue generated from sales to European markets also recorded a significant decrease of 100.0% to zero for the same period[25]. Financial Position and Assets - As of September 30, 2022, the Group had current assets of approximately HK$86.0 million, with cash and bank balances of approximately HK$82.9 million[76]. - The current ratio was approximately 17.9 as of September 30, 2022, compared to approximately 15.1 as of March 31, 2022[76]. - The Group had no capital commitments as of September 30, 2022[81]. - The Group held financial assets at fair value through profit or loss amounting to approximately HK$25,973,000, representing about 22.5% of its total assets[91]. - The financial assets included a life insurance policy valued at approximately HK$17,847,000, which accounted for approximately 15.4% of total assets, and Hong Kong listed equity securities valued at approximately HK$8,126,000, representing about 7.0% of total assets[92]. - The Group's net cash flows from operating activities for the six months ended September 30, 2022, were negative at HK$7,879,000, compared to a positive cash flow in the previous period[142]. Corporate Governance and Structure - The company changed its name from "Hifood Group Holdings Co., Limited" to "Domaine Power Holdings Limited" effective from August 25, 2022[50]. - The company's headquarters in Hong Kong has been relocated to a new address effective from November 22, 2022[55]. - The corporate governance practices adopted by the Company complied with the Corporate Governance Code during the period[114]. - The Group's capital structure remained unchanged as of September 30, 2022, compared to March 31, 2022[90]. - The Group does not engage in any derivative activities or use financial instruments to hedge foreign currency risks[90]. Employee and Management Information - The Group had 8 employees as of September 30, 2022, an increase from 6 employees as of March 31, 2022[85]. - The remuneration for employees is determined based on market conditions and individual performance, ensuring competitive salary levels[88]. - Independent non-executive directors' monthly salary has been increased to HK$11,000, effective from July 1, 2022[119]. - The company has made changes in the board committee composition, including the re-designation of Dr. So Shu Fai as chairman of the Nomination Committee[118]. Accounting Policies and Financial Reporting - The unaudited condensed consolidated interim financial statements have been prepared in accordance with HKAS 34 and the applicable disclosure requirements of the Listing Rules[150]. - The significant accounting policies adopted are consistent with those used in the Group's audited consolidated financial statements for the year ended March 31, 2022[152]. - The Group has adopted revised HKFRSs for the first time for the current year's financial statements, including amendments to HKFRS 3 and HKFRS 9[155]. - The Group's financial statements have not been audited but have been reviewed by the audit committee[151]. - The Group is currently assessing the impact of the amendments on its accounting policy disclosures[191].

Financial Performance - Gross profit for the year was HK$ 180 million, reflecting a gross profit margin of 30%[12][14] - Revenue increased by 15% year-over-year, driven by strong demand in key markets[11] - The company reported a net profit of HK$ 50 million, up from HK$ 40 million in the previous year[11] - Revenue for the year ended 31 March 2022 was approximately HK$135.5 million, representing a decrease of approximately 16.7% compared to the previous year[17] - Gross profit was approximately HK$2.4 million, with a gross profit margin of approximately 1.8%, down from 4.3% in the previous year[18][20] - Loss attributable to owners of the Company was approximately HK$78.2 million, compared to a loss of approximately HK$75.0 million in the previous year[18][20] - Revenue from sales in the Americas market decreased significantly by approximately 59.9% to approximately HK$32.0 million[28][31] - Revenue generated from sales in the Hong Kong market increased substantially by approximately 534.8% to approximately HK$101.0 million[33] - Revenue from sales to European markets recorded a significant decrease of approximately 96.0% to approximately HK$1.9 million[34] - Basic loss per share amounted to approximately HK$0.45, compared to HK$0.43 in the previous year[19][20] Market Strategy and Expansion - The company plans to expand its market presence in Southeast Asia, targeting a 25% increase in market share by 2025[11] - New product launches are expected to contribute an additional HK$ 50 million in revenue next fiscal year[11] - The company is exploring potential acquisitions to enhance its product portfolio and market reach[11] - The management has adjusted its strategy to focus on gold products and luxury watches in the Hong Kong market[33] - The Group plans to allocate more resources to participate in the high-end jewellery market and target high-net-worth customers[41] - The Group is actively investing in new technological applications to enrich business drivers[43] - The Group aims to solidify operations in Hong Kong and leverage the easing of travel restrictions with Mainland China to connect with new business partners[40] - The Group is exploring e-commerce opportunities, including livestream sales, to enhance competitiveness and reach younger consumers[95] Governance and Leadership - Dr. So Shu Fai appointed as chairman and executive director, bringing extensive experience in management and governance[45] - Mr. Chan Wai Dune has over 40 years of experience in finance, particularly in auditing and taxation, and serves as a non-executive director since November 2021[49] - The company is focused on expanding its market presence and enhancing its governance structure through experienced leadership[45] - The board believes Mr. Chan's professional knowledge and experience make him a suitable non-executive director despite past reprimands[53] - The company is committed to maintaining high professional standards in financial reporting and governance practices[53] - The management team includes individuals with significant experience in both local and international markets, enhancing strategic decision-making[49] - The company aims to leverage its leadership's expertise to drive future growth and operational efficiency[45] - The board is actively involved in overseeing the company's strategic direction and compliance with regulatory standards[49] - The company emphasizes the importance of governance and accountability in its operations and decision-making processes[53] - The leadership team is focused on fostering a culture of integrity and transparency within the organization[53] Challenges and Risks - The business environment faced challenges due to tightening U.S. monetary policy, ongoing Sino-U.S. trade conflicts, and the impact of COVID-19 variants[27][29] - The ongoing geopolitical tensions and economic sanctions have significantly impacted investment sentiment and risk appetite[37] - The Group recognizes risks associated with supply chain disruptions due to the COVID-19 pandemic and the Sino-U.S. trade war[36] - The management is cautiously evaluating the future development of overseas markets due to significant challenges in the recovery process[36] - The tightening of U.S. monetary policy and the escalated trade conflict between Mainland China and the U.S. posed considerable risks and challenges to the business environment[82] - The adjustment of U.S. monetary policy has calmed market sentiment, leading to a slowdown in demand for luxury consumption[82] - The ongoing Sino-U.S. trade war is unfavorable to the export business in Hong Kong[82] - The company faced significant challenges due to the global economic situation remaining difficult during the reporting period[82] Financial Management - The Group's current ratio as of March 31, 2022, was approximately 15.1, significantly higher than 5.0 in 2021, indicating improved liquidity management[122] - The Group closely monitors its liquidity position to ensure it meets funding requirements effectively[123] - The Group does not engage in any derivatives activities, maintaining a conservative financial management approach[129] - The Group's investment strategy remains unchanged despite short-term market volatilities, with a focus on attractive Hong Kong listed equity securities for long-term returns[144] - The Group reported a fair value loss of approximately HK$62.8 million on financial assets at fair value through profit or loss for the year ended March 31, 2022[122] - The financial statements prepared by the Board provide a true and fair view of the Group's financial position and performance[197] Joint Ventures and Collaborations - The Company entered into a Joint Venture Agreement with San J Jewellery Limited to form Perfect King International Limited, with a registered capital of HK$5,000,000[166] - The Company contributed HK$2,550,000, representing 51% of the shareholding in the Joint Venture, while San J Jewellery contributed HK$2,450,000 for 49%[166] - The Joint Venture aims to enhance the development of online sales channels for the Company[171] - The Company has established a Joint Venture to expand direct sales to customers in Mainland China, aiming to penetrate the online jewellery market[27] - The Joint Venture was classified as a non-wholly owned subsidiary during the reporting period due to unmet conditions in the JV Agreement[27] - On 31 March 2022, the Company acquired the remaining 49% shares of the Joint Venture, making it a wholly owned subsidiary[171] Corporate Governance - The Company has complied with the old Corporate Governance Code during the year ended March 31, 2022, with some exceptions noted regarding attendance at the annual general meeting[178] - The Board consists of six Directors, including two executive Directors, one non-executive Director, and three independent non-executive Directors as of 31 March 2022[179] - The Company has adopted the Model Code for Securities Transactions by Directors, confirming compliance by all Directors during the year ended March 31, 2022[179] - The Directors believe that good corporate governance is essential for balancing the interests of shareholders, customers, and employees[178] - The changes in the Board are expected to positively impact the company's future performance and strategic direction[186] - The Board has delegated certain responsibilities to various Board committees to manage different aspects of the Company's affairs[195] - The Company has no corporate governance committee, thus the Board oversees compliance with legal and regulatory requirements[198] - The independent non-executive Directors are expected to effectively devote their time to the duties required by the respective Board committees[195]

Revenue and Profitability - Revenue for the six months ended September 30, 2021, was approximately HK$68.8 million, representing an increase of approximately 74.2% compared to the same period in 2020[14]. - Gross profit for the same period was approximately HK$3.6 million, an increase of approximately 17.2% year-on-year[14]. - Gross profit margin decreased to approximately 5.2% for the six months ended September 30, 2021, down from approximately 7.7% for the same period in 2020[14]. - Consolidated loss attributable to equity holders was approximately HK$68.0 million, an improvement from a loss of approximately HK$89.9 million in the corresponding period of 2020[14]. - Basic and diluted losses per share were approximately HK$0.39, compared to HK$0.52 for the same period in 2020[14]. - The Group's revenue for the Period was approximately HK$68.8 million, an increase of approximately HK$29.3 million or 74.2% compared to the same period in 2020[46]. - Gross profit for the Period was approximately HK$3.6 million, representing an increase of approximately HK$0.5 million or 17.2% over the corresponding period in 2020[47]. - The Group recorded a consolidated loss attributable to equity holders of approximately HK$68.0 million, a decrease from approximately HK$89.9 million in the same period of 2020[55]. - The decrease in consolidated loss was primarily due to an increase in revenue by approximately HK$29.3 million and a reduction in loss on changes in fair value of listed equity securities by approximately HK$12.8 million[55]. - The company reported a total comprehensive loss for the period of HK$67,578,000 as of September 30, 2021, compared to a loss of HK$89,882,000 for the same period in 2020[121]. - For the six months ended September 30, 2021, the company reported a loss attributable to ordinary equity holders of approximately HK$67,978,000, compared to a loss of approximately HK$89,882,000 for the same period in 2020, representing a 24.4% improvement in losses[194]. Market Performance - Revenue from the Hong Kong market increased by 563.4% to approximately HK$34.3 million, compensating for losses in the Mainland China market[24]. - Revenue from the Americas market increased by 50.7% to approximately HK$32.0 million for the six months ended 30 September 2021[25]. - Revenue from the Europe (including Russia) market decreased by 84.3% to approximately HK$1.9 million due to the ongoing COVID-19 pandemic and its impact on the global supply chain[28]. - Sales in the Hong Kong market increased by approximately HK$29.2 million, attributed to various economic support measures by the Hong Kong government[46]. - Revenue from jewellery product sales was HK$34,494,000, slightly up from HK$34,353,000 in 2020, indicating a stable performance[164]. - Sales of precious metals and other raw jewellery materials surged to HK$18,068,000, a significant increase from HK$5,167,000 in 2020, reflecting a 249.4% growth[166]. - Sales of luxury watches reached HK$16,283,000, compared to a negligible amount in 2020, showcasing a strong recovery in this segment[167]. Cost Management and Expenses - Administrative expenses were approximately HK$8.1 million, a decrease of about 33.1% compared to the same period last year, while selling expenses decreased by approximately 38.2% to about HK$1.7 million[29]. - The gross profit margin decreased to approximately 5.2% from approximately 7.7%, mainly due to increased sales in the lower-margin gold and watch business[47]. - The cost of inventories sold for the six months ended September 30, 2021, was HK$56,143,000, significantly higher than HK$31,727,000 in 2020, indicating an increase of 77.3%[194]. - The write-down of inventories to net realizable value was HK$879,000 for the period, compared to a write-back of HK$1,250,000 in the previous year[194]. - Minimum lease payments under operating leases increased to HK$236,000 from HK$75,000, reflecting a rise of 214.7%[194]. - Finance costs for the six months ended September 30, 2021, were HK$37,000, down from HK$317,000 in 2020, indicating improved cost management[178]. Financial Position and Assets - As of 30 September 2021, the Group had current assets of approximately HK$129.6 million, including cash and bank balances of approximately HK$86.6 million[59]. - The current ratio was approximately 4.6 as of 30 September 2021, compared to approximately 5.0 as of 31 March 2021[59]. - Total assets as of September 30, 2021, were HK$166,696,000, down from HK$228,506,000 as of March 31, 2021[111]. - Total current assets increased to HK$129,569,000 from HK$112,441,000, reflecting a growth of 15.3%[111]. - Total liabilities as of September 30, 2021, were HK$28,982,000, compared to HK$23,173,000 at the end of March 2021, an increase of 25.5%[113]. - Total equity attributable to the equity holders of the Company decreased to HK$137,714,000 from HK$205,333,000, a decline of 33%[114]. - The Group's non-current assets as of September 30, 2021, totaled HK$3,115,000, down from HK$3,469,000 as of March 31, 2021[159]. - The Group's consolidated reserves decreased to approximately HK$136,851,000 as of September 30, 2021, down from HK$204,470,000 as of March 31, 2021, marking a reduction of about 33%[117]. Corporate Governance and Management - The Group intends to focus on the luxury market recovery and expand into new jewellery business areas[29]. - The Group aims to strengthen its brand recognition globally while maintaining its status as a top fine jewellery brand in Hong Kong[34]. - The Group has adopted a prudent financial management approach and maintained a healthy liquidity position throughout the Period[59]. - The Company complied with the Corporate Governance Code and its provisions during the reporting period[88]. - Several changes in the Board of Directors occurred, including the appointment of new independent non-executive Directors in May and July 2021[92][93]. - The executive Director, Tom Xie, was appointed as the chairman of the Nomination Committee and a member of the Remuneration Committee[101]. - The Group has not disclosed any significant new strategies or market expansions during the reporting period[81]. - The Company has maintained a focus on enhancing corporate governance practices to balance the interests of shareholders, customers, and employees[89]. Investment and Acquisitions - Perfect Gain Group Limited acquired 129,372,494 shares, representing approximately 74.96% of the entire issued share capital of the Company, for HK$200,000,000, equivalent to approximately HK$1.546 per share[134]. - The completion of the acquisition took place on 30 September 2021, leading to the discharge of responsibilities by the joint receivers[134]. - Following the acquisition, the purchaser was required to make a mandatory unconditional cash offer for all issued shares not already owned or agreed to be acquired by them[135]. - The Group did not have any material acquisitions or disposals of subsidiaries and affiliated companies during the reporting period[82]. - There were no definite future plans for material investments or acquisitions of significant capital assets as of September 30, 2021[81]. Compliance and Accounting - The unaudited condensed consolidated interim financial statements have been prepared in accordance with HKAS 34 and applicable disclosure requirements of the Listing Rules[139]. - The Group adopted new amendments to HKFRSs, including Covid-19-Related Rent Concessions, which had no material impact on the Group's financial positions and performance for the current and prior periods[145]. - The Group's significant accounting policies remain consistent with those used in the audited consolidated financial statements for the year ended 31 March 2021[140]. - The financial statements have not been audited but reviewed by the Company's audit committee[142]. - The application of the new accounting policies did not result in significant changes to the financial statements[146].

Financial Performance - Revenue for the year ended March 31, 2021, was approximately HK$162.6 million, representing an increase of approximately 5.6% compared to the previous year[14]. - Gross profit for the same period was approximately HK$7.0 million, a decrease of approximately 21.0% from the previous year[14]. - Gross profit margin decreased to 4.3% from 5.8% in the last financial year[14]. - Loss attributable to equity holders of the Company was approximately HK$75.0 million for the year ended March 31, 2021, compared to a loss of approximately HK$67.7 million for the previous year[15]. - Basic loss per share amounted to approximately HK$0.43 for the year ended March 31, 2021, compared to HK$0.39 for the previous year[15]. - The Group reported approximately HK$162.6 million in revenue for the financial year ended 31 March 2021, representing an increase of approximately 5.6% compared to the previous year[27]. - Gross profit was approximately HK$7.0 million, with a gross profit margin of approximately 4.3%[27]. - Loss attributable to equity holders of the Company was approximately HK$75.0 million, and no final dividend was recommended for the year[27]. Market Performance - Revenue from the Americas market significantly increased by 554.1% to approximately HK$79.6 million compared to the same period last year[29]. - Revenue from European markets (including Russia) increased by 177.7% to HK$48.6 million compared to the same period last year[34]. - Revenue from the Mainland China market decreased by approximately 7.7% to approximately HK$18.2 million compared to the same period last year[34]. - Revenue from the Hong Kong market registered a significant decline of 84.5% to HK$15.9 million compared to the same period last year[34]. - Revenue from sales to the Asia market, including Mainland China, decreased by approximately 7.7% to approximately HK$18.2 million compared to the previous year[72]. - Revenue generated from the Hong Kong market decreased significantly by approximately 84.5% to approximately HK$15.9 million due to the adverse effects of U.S. sanctions and the ongoing COVID-19 pandemic[73]. Strategic Initiatives - The Company aims to improve operational efficiency and explore new market opportunities in the upcoming fiscal year[22]. - Future strategies include enhancing product offerings and investing in technology development to drive growth[22]. - The Company is focused on expanding its market presence and exploring potential acquisition opportunities[22]. - The company aims to enhance business efficiency by streamlining operations and improving internal resources[45]. - The company plans to expand its luxury customer base and develop new markets to increase global visibility of the K.T.L. brand[45]. - The Group intends to explore new business opportunities while maintaining its jewellery business, aiming to strengthen its market presence and brand recognition globally[108]. - The Group plans to enhance its sales and marketing efforts, participate in trade exhibitions, and allocate resources for product development to cater to diverse consumer preferences[109]. Economic and Market Challenges - The Group is cautiously prudent about future market development due to uncertainties in economic recovery and geopolitical tensions[41]. - The overall global economic outlook has improved, but the recovery process still faces significant uncertainty[41]. - The Group acknowledges the challenges posed by COVID-19 mutations and varying epidemic prevention policies across countries[41]. - The prolonged COVID-19 pandemic has severely disrupted global economic recovery, with Brazil and India becoming the epicenters of new infections[42]. - Sino-US relations remain tense, with no significant signs of improvement, impacting market risks and trade policies[42]. - The global economic situation remained challenging, with uncertainties from the U.S.-China trade conflict and the COVID-19 pandemic impacting the jewellery industry and the Group's sales performance[72]. - Business travel restrictions and the cancellation or postponement of major international jewellery fairs led to significant reductions in orders, shipments, and production during the review period[72]. - The Mainland China market continued to face a challenging operating environment, with consumer demand for gold and jewellery not showing signs of recovery in the short term[73]. - The uncertainties surrounding the new U.S. administration's policies towards Mainland China have dampened business sentiment and consumer confidence[73]. Operational Efficiency - The company has implemented stringent controls over capital expenditures to adapt to the uncertain market environment[77]. - The management is focused on optimizing resource allocation and improving operating efficiency to seek new business growth areas[84]. - Administrative expenses were approximately HK$22.0 million, a decrease of about 12.8% compared to the previous year[79]. - Selling expenses increased by approximately 2.3% to about HK$4.4 million, primarily due to increased export insurance costs[79]. - The company recorded a loss attributable to equity holders of approximately HK$75.0 million for the year, compared to a loss of approximately HK$67.7 million in the previous year[96]. Corporate Governance - The Board comprises nine Directors, including three executive Directors and six independent non-executive Directors[140]. - The Company has complied with all provisions of the Corporate Governance Code during the year ended March 31, 2021[137]. - Independent non-executive Directors represent at least one-third of the Board, meeting the Listing Rules requirements[155]. - The Board is responsible for overseeing the Company's affairs and adopting long-term strategies[148]. - The Company has established various Board committees to handle different aspects of its affairs[149]. - The Board meets at least four times a year to discuss overall strategy and financial performance[160]. - The attendance rate of directors at board meetings is documented, with some directors attending all eligible meetings[162]. - The company ensures continuous professional development for all directors, with training sessions focused on their roles and responsibilities[165]. Employee and Director Information - As of March 31, 2021, the Group had 22 employees, a decrease from 31 employees in 2020, with total staff costs approximately HK$7.9 million, unchanged from the previous year[118][123]. - The Directors believe that employee salaries and benefits are competitive and performance-related within the Group's salary and bonus system, which is reviewed annually[120]. - The responsibilities of the chairman and the CEO are segregated, with Mr. Su Zhiyi as chairman and Mr. Xiong Cong as CEO since September 16, 2020[168]. Audit and Risk Management - The Audit Committee consists of three independent non-executive Directors, with Mr. Chan Chi Kuen as the Chairman, who holds the required professional qualifications[195]. - The primary duties of the Audit Committee include reviewing financial statements and overseeing the Company's financial reporting, risk management, and internal control systems[193]. - The Audit Committee will review the external auditor's management letter and ensure timely responses to issues raised[194].

Financial Performance - Revenue for the six months ended September 30, 2020, was approximately HK$39.5 million, representing a decrease of approximately 59.7% compared to the same period in 2019[11]. - Gross profit for the same period was approximately HK$3.1 million, a decrease of approximately 38.7% year-over-year[11]. - The consolidated loss attributable to the owners of the parent was approximately HK$89.9 million, compared to a loss of approximately HK$37.8 million for the corresponding period in 2019[11]. - Basic and diluted losses per share amounted to approximately HK$0.52, compared to approximately HK$0.22 for the same period in 2019[11]. - The total comprehensive loss attributable to the owners of the parent for the period was HK$88,877,000, compared to HK$38,906,000 in the same period of 2019, indicating a significant increase in losses[96]. - The Group reported a net loss before tax of HK$78,109,000 for the six months ended September 30, 2020, compared to a loss of HK$25,417,000 in 2019[173]. - The Group experienced net foreign exchange losses of HK$369,000 for the six months ended September 30, 2020[173]. Revenue Breakdown - Revenue from sales to the Mainland China market decreased by approximately 92% to approximately HK$793,000 for the six months ended 30 September 2020 compared to the same period last year[20]. - Revenue generated from sales in the Americas market increased by 431% to approximately HK$21.2 million for the six months ended 30 September 2020[21]. - Revenue from sales to the Europe (including Russia) market increased by 1,143% to approximately HK$12.3 million for the six months ended 30 September 2020[24]. - Revenue from jewellery products for the six months ended September 30, 2020, was HK$39,520,000, a decrease of 57.1% compared to HK$92,319,000 in 2019[168]. - Total revenue for the period was HK$39,520,000, down from HK$98,001,000 in the same period last year, reflecting a decline of 59.8%[168]. Expenses and Costs - Administrative expenses were approximately HK$12.1 million, which were approximately 17.5% lower than the corresponding period last year[25]. - Selling expenses increased by approximately 22.9% to approximately HK$2.8 million, mainly due to provisions for samples and consignments used for exhibitions[25]. - The cost of inventories sold for the six months ended September 30, 2020, was HK$31,727,000, a decrease of 64.8% from HK$90,116,000 in 2019[179]. - Finance costs decreased by approximately HK$0.2 million or 36.5% to approximately HK$0.3 million, attributed to a decrease in average borrowing balance[53]. Market Conditions - The global economic situation remained difficult, significantly impacting the jewellery industry and the Group's sales performance[15]. - Business travel restrictions and the cancellation or postponement of major international jewellery fairs led to significant reductions in orders, shipments, and production during the period[15]. - The significant revenue decline was primarily due to a decrease of approximately HK$77.8 million in sales in the Hong Kong market, influenced by the revocation of special trade status by the U.S.[44]. Strategic Initiatives - The Group intends to explore other possible business opportunities both locally and abroad while continuing its jewellery business[33]. - The Group aims to maintain its status as a top fine jewellery manufacturer and exporter in Hong Kong by strengthening its sales and marketing force[34]. - The Group will allocate resources to increase its design capabilities and attract jewellery wholesalers or chain stores in the trade[35]. - The Group aims to strengthen its market share in the existing jewelry market while exploring new business opportunities both locally and overseas[37]. - The Group plans to invest more resources in sales and marketing to promote its brand and products, including selective participation in trade exhibitions[37]. Assets and Liabilities - As of September 30, 2020, the Group's current assets were approximately HK$125.6 million, down from approximately HK$286.9 million as of March 31, 2020[54]. - Current liabilities amounted to approximately HK$32.2 million as of September 30, 2020, up from approximately HK$30.0 million as of March 31, 2020[54]. - The current ratio decreased to approximately 3.9 as of September 30, 2020, from approximately 9.5 as of March 31, 2020[54]. - Total assets as of September 30, 2020, were HK$222,716,000, down from HK$309,467,000 as of March 31, 2020, indicating a decrease of approximately 28%[99]. - The Group's consolidated reserves decreased to approximately HK$188,566,000 as of 30 September 2020, down from approximately HK$277,443,000 as of 31 March 2020[104]. Management Changes - Mr. Li Neng resigned as the chairman and executive director effective September 16, 2020[83]. - Mr. Su Zhiyi was appointed as the Chairman and executive director effective September 16, 2020[88]. - The company has undergone significant management changes, with new appointments effective from September 16, 2020, including a new CEO and chairman[90]. Dividend Policy - The board does not recommend the payment of an interim dividend for the six months ended September 30, 2020[12]. - The Directors do not recommend the payment of an interim dividend for the period, consistent with the previous year[189].