Financial Performance - For the six months ended September 30, 2024, the company reported revenue of HKD 86,745,000, a decrease of 4.3% from HKD 90,717,000 in the same period last year[3] - Gross profit for the same period increased to HKD 5,854,000, compared to HKD 3,539,000, reflecting a significant improvement in profitability[3] - The company recorded a net loss of HKD 9,291,000 attributable to owners, an improvement from a loss of HKD 11,908,000 in the previous year[3] - The basic loss per share improved to HKD (2.39) from HKD (3.07) in the previous year, showing a reduction in losses per share[3] - The group reported a total loss before tax of HKD 9,937,000 for the six months ended September 30, 2024, compared to a loss of HKD 11,633,000 in the same period of 2023[21] - The company reported a net loss attributable to shareholders of HKD 9,291,000 for the six months ended September 30, 2024, compared to a loss of HKD 11,908,000 for the same period in 2023, representing a 22% improvement in loss[35] - The diluted loss per share for the six months ended September 30, 2024, was HKD 31.29, compared to HKD 30.73 for the same period in 2023, indicating a slight increase in loss per share[35] - The group recorded a net loss attributable to shareholders of approximately HKD 9.3 million, a reduction of about 22.0% from approximately HKD 11.9 million in the previous period[80] Revenue Breakdown - Jewelry product sales generated revenue of HKD 6,478,000, down 22.1% from HKD 8,321,000 year-on-year[18] - Energy business revenue, including sales of refined oil and liquefied natural gas, totaled HKD 80,267,000, a slight decrease from HKD 82,396,000 in the previous year[21] - The jewelry business experienced a decline of approximately 22.1%, from about HKD 8.3 million to approximately HKD 6.5 million, primarily due to decreased sales in Hong Kong and China[61] - Energy business revenue decreased from approximately HKD 82.4 million to about HKD 80.3 million, a decline of approximately 2.6%, mainly due to reduced sales of finished oil products[69] - The sales revenue of liquefied natural gas (LNG) products remained similar to the previous year, while sales revenue from refined oil at refueling stations decreased[50] Assets and Liabilities - Total assets decreased to HKD 200,681,000 from HKD 210,033,000 as of March 31, 2024[5] - Current assets increased significantly to HKD 81,352,000 from HKD 49,289,000, indicating improved liquidity[5] - The total assets of the group as of September 30, 2024, amounted to HKD 282,033,000, an increase from HKD 259,322,000 as of March 31, 2024[25] - The group’s total liabilities increased to HKD 246,406,000 as of September 30, 2024, compared to HKD 231,494,000 as of March 31, 2024[25] - The group’s cash and cash equivalents amounted to approximately HKD 20.1 million as of September 30, 2024, up from HKD 16.3 million as of March 31, 2024[82] - The total accounts receivable as of September 30, 2024, was HKD 8,669,000, up from HKD 4,578,000 as of March 31, 2024, indicating a 89% increase in receivables[40] - The company reported a total of HKD 7,409,000 in accounts payable as of September 30, 2024, compared to HKD 3,531,000 as of March 31, 2024, representing a 110% increase in payables[43] Cash Flow and Financial Position - The company's cash and cash equivalents rose to HKD 20,130,000 from HKD 16,290,000, enhancing its financial position[5] - The group’s current assets net value was approximately HKD 16.5 million with a current ratio of 1.3 as of September 30, 2024[82] - The group’s interest-bearing bank borrowings amounted to approximately HKD 44.0 million, an increase from HKD 23.0 million as of March 31, 2024, resulting in a capital debt ratio of 123.4% compared to 82.6% previously[85] - The fair value of the convertible bonds as of September 30, 2024, was assessed at approximately HKD 41.0 million for the debt portion and HKD 8.0 million for the derivative financial instruments, compared to HKD 36.9 million and HKD 17.0 million as of March 31, 2024[87] Strategic Initiatives - The company plans to continue focusing on market expansion and new product development to drive future growth[3] - The company established an office in Shenzhen to expand LNG business into more cities in China, aiming to capture growth opportunities[51] - The company plans to expand its liquefied natural gas business through new offices in Chengdu and Shenzhen, aiming for increased market share and revenue growth[63] - The acquisition of Chengdu Huahan is expected to enhance the company's operational and management capabilities in the natural gas sector, aligning with China's energy transition goals[64] Market Conditions - The competitive landscape in the jewelry market is intensifying, with both local and international players vying for market share, impacting overall sales performance[61] - The company faced significant pressure on its solar energy business due to geopolitical tensions and trade barriers affecting solar photovoltaic products[55] - China's domestic natural gas consumption is projected to reach approximately 420 billion cubic meters in 2024, with a year-on-year growth of 8.7% in the first half of the year[63] Corporate Governance and Compliance - The group has adopted corporate governance principles emphasizing effective internal controls and board accountability[99] - The audit committee has reviewed the interim financial results for the six months ending September 30, 2024, with no significant modifications required[104] - The interim report will be published on the Hong Kong Stock Exchange and the company's website, ensuring compliance with all listing regulations[108] - The company maintains the required percentage of public float as per listing rules[106] Employee and Operational Updates - The group employed a total of 69 employees as of September 30, 2024, an increase from 64 employees as of March 31, 2024[93] - Administrative expenses increased by approximately 3.7% from about HKD 10.7 million to approximately HKD 11.1 million, mainly due to expenses related to the establishment of a new office in Shenzhen[75] Other Information - The company did not declare or propose any dividends during the interim period, consistent with the previous year[36] - The group had no capital commitments or significant contingent liabilities as of September 30, 2024[92] - There were no major post-reporting date events from September 30, 2024, until the date of this announcement[98] - The group has not engaged in any significant investments, acquisitions, or disposals related to subsidiaries or associates during the reporting period[96]

2023/24 ○DH 中發展控股有限公司 Copyrent Holdings Limited | --- | --- | |--------------------------|-------| | 目錄 | | | | | | 公司資料 | 2 | | 主席報告 | 3 | | 管理層討論及分析 | 4 | | 董事及公司秘書 | 16 | | 企業管治報告 | 19 | | 董事會報告 | 38 | | 獨立核數師報告 | 55 | | 綜合損益及其他全面收益表 | 60 | | 綜合財務狀況表 | 61 | | 綜合權益變動表 | 63 | | 綜合現金流量表 | 64 | | 綜合財務報表附註 | 66 | | 五年財務概要 | 144 | | --- | --- | |-----------------------------------------------------------------|--------------------------------------------------------------------| | | | | 董事會 | 註冊辦事處 | | 執行董事 | ...

Financial Performance - For the fiscal year ending March 31, 2024, the company reported total revenue of HKD 188,549,000, a decrease of 24% from HKD 247,893,000 in the previous year[3]. - The gross profit for the year was HKD 7,736,000, compared to HKD 4,645,000 in the previous year, indicating an increase of 66.7%[3]. - The company recorded a net loss of HKD 31,029,000 for the year, which is a significant increase from a net loss of HKD 14,658,000 in the previous year[3]. - The company’s basic and diluted loss per share was HKD 8.01, compared to HKD 3.07 in the previous year, indicating a worsening of 160%[3]. - The total segment loss for the year ended March 31, 2024, was HKD 7,574,000, compared to a loss of HKD 11,897,000 in the previous year[29]. - The company recorded a pre-tax loss of HKD 30,885,000 for the year ended March 31, 2024, compared to a pre-tax loss of HKD 12,618,000 in the previous year[29]. - The annual loss attributable to the company's owners increased from approximately HKD 11.9 million to about HKD 31.1 million, an increase of approximately 160.8%, with a basic loss per share of HKD 8.01[89]. Revenue Breakdown - Revenue from jewelry products was HKD 18,000,000, down from HKD 26,709,000, representing a decline of 32.5%[19]. - Revenue from liquefied natural gas was HKD 105,347,000, a decrease of 45% compared to HKD 191,716,000 in the previous year[19]. - Revenue from finished oil increased significantly to HKD 64,857,000 from HKD 27,927,000, marking an increase of 132%[19]. - The jewelry business generated revenue of HKD 18,000,000, down from HKD 26,709,000, while the energy business reported revenue of HKD 170,549,000, down from HKD 221,184,000[29]. - Energy business revenue decreased from approximately HKD 221.2 million to HKD 170.5 million, a decline of about 22.9%, mainly due to reduced sales of liquefied natural gas[78]. - Jewelry business revenue fell from approximately HKD 26.7 million to HKD 18.0 million, a decrease of about 32.6%, attributed to intensified market competition and economic instability[78]. Assets and Liabilities - Total assets decreased to HKD 222,765,000 from HKD 226,412,000, reflecting a decline of 1.9%[5]. - Current assets increased to HKD 49,289,000 from HKD 37,439,000, representing a growth of 31.5%[5]. - Non-current liabilities rose to HKD 194,937,000 from HKD 171,999,000, marking an increase of 13.3%[7]. - Total assets increased to HKD 259,322,000 in 2024 from HKD 256,015,000 in 2023, while total liabilities rose to HKD 231,494,000 from HKD 201,602,000[31]. - As of March 31, 2024, the group's total assets and total liabilities were approximately HKD 259.3 million and HKD 231.5 million, respectively, resulting in a debt ratio of approximately 89.3%[101]. Cash Flow and Financial Position - The company's cash and cash equivalents increased to HKD 16,290,000 from HKD 13,122,000, a rise of 24.8%[5]. - Cash and bank balances increased to HKD 16,290,000 in 2024 from HKD 13,122,000 in 2023[31]. - The group's interest-bearing bank borrowings amounted to approximately HKD 23.0 million, with an annual interest rate of 4.5%[97]. - The fair value of the convertible bonds' debt portion and the generated derivative financial instruments were approximately HKD 36.9 million and HKD 17.0 million, respectively[100]. Business Strategy and Market Conditions - The company plans to continue its focus on expanding its jewelry and energy business in China and Hong Kong[9]. - The company is focusing on maintaining supply chain stability through close cooperation with suppliers, enhancing logistics and distribution efficiency[58]. - The overall demand for jewelry in China has increased, driven by a recovery in consumer purchasing power and confidence in the economic outlook[63]. - The competitive environment in the jewelry market has intensified, impacting sales and leading to a more cautious consumer sentiment[62]. - The solar energy business faced significant pressure due to declining product prices and a tightening financing environment, leading to a notable decrease in revenue for the year[58]. Compliance and Governance - The audit committee reviewed the consolidated financial statements for the year and confirmed compliance with applicable accounting standards and disclosure requirements[119]. - Deloitte has confirmed that the preliminary financial figures align with the audited financial statements approved by the board[124]. - The company has adopted the standards set forth in Appendix C3 of the listing rules regarding securities trading by directors[131]. - All directors have confirmed compliance with the standards outlined in the code throughout the year[131]. Employee and Operational Metrics - The total employee costs recognized as expenses amounted to HKD 180,813,000, a decrease from HKD 243,248,000 in the previous year[38]. - The group employed 64 staff as of March 31, 2024, an increase from 60 staff the previous year, with competitive salaries and performance-based bonuses offered[106].

Revenue Performance - Total revenue for the period ending September 30, 2023, was approximately HKD 90.7 million, a decrease of about 33.1% compared to HKD 135.6 million in the previous period[7]. - Revenue from the energy business decreased by 30.8% to HKD 82.4 million, down from HKD 119.0 million in the previous period, primarily due to a decline in natural gas product sales[8]. - Jewelry business revenue fell by approximately 50.0% to HKD 8.3 million, down from HKD 16.7 million in the previous period, with Hong Kong sales accounting for 59.9% and China for 40.1% of total sales[13]. - The group's revenue for the period was approximately HKD 90.7 million, a decrease of about 33.1% from approximately HKD 135.6 million in the previous period, primarily due to declines in both energy and jewelry business revenues[30]. - Revenue from the energy business decreased by approximately 30.8% to about HKD 82.4 million, down from approximately HKD 119.0 million, mainly due to reduced sales of liquefied natural gas[30]. - Jewelry business revenue fell by approximately 50.0% to about HKD 8.3 million from approximately HKD 16.7 million, attributed to intense market competition and economic instability[31]. - The revenue from jewelry products was HKD 8,321,000, down 50% from HKD 16,651,000 in the previous year[136]. - The revenue from liquefied natural gas (LNG) was HKD 50,518,000, a decline of 50% compared to HKD 101,080,000 in the same period last year[136]. Profitability and Loss - The gross profit margin improved significantly from approximately 1.4% in the previous period to about 3.9% in the current period[7]. - The group's gross profit increased from approximately HKD 1.9 million to about HKD 3.5 million, an increase of approximately 84.1%, mainly due to higher sales of more profitable refined oil products[32]. - The group recorded a net loss attributable to shareholders of approximately HKD 11.9 million, an increase of about 112.1% from approximately HKD 5.6 million in the previous period[42]. - Basic loss per share was HKD 0.031, compared to HKD 0.015 in the previous period[42]. - The company incurred a loss before tax of HKD 11,633,000, compared to a loss of HKD 5,654,000 in the prior year, indicating a deterioration of 105.5%[121]. - Total comprehensive loss for the period was HKD 16,885,000, up from HKD 13,612,000 in the previous year, reflecting a 24.5% increase[121]. - Basic and diluted loss per share was HKD 3.07, compared to HKD 1.45 in the same period last year, marking a 111.0% increase in loss per share[121]. Financial Position - As of September 30, 2023, the group's current assets net value and current ratio were approximately HKD 10.3 million and 1.3, respectively, compared to HKD 7.8 million and 1.3 as of March 31, 2023[45]. - Cash and bank balances as of September 30, 2023, were approximately HKD 19.4 million, up from HKD 13.1 million as of March 31, 2023[45]. - The group's bank borrowings amounted to approximately HKD 17.7 million as of September 30, 2023, with a capital debt ratio of approximately 44.9%, compared to 36.4% as of March 31, 2023[47]. - The total assets and total liabilities of the group as of September 30, 2023, were approximately HKD 259.4 million and HKD 220.1 million, respectively, resulting in a liability ratio of approximately 84.9%[51]. - The carrying value of intangible assets as of September 30, 2023, was approximately HKD 47.1 million, down from HKD 50.1 million as of March 31, 2023[46]. - The group’s net assets decreased to HKD 39,287,000 from HKD 54,413,000, a decline of 27.8%[125]. - Total liabilities increased to HKD 220,968,000 as of September 30, 2023, compared to HKD 201,602,000 as of March 31, 2023, an increase of 9.6%[125]. Strategic Initiatives - The company is actively developing its energy business, focusing on diverse energy products and services, including solar photovoltaic technology products[8]. - The company is committed to expanding its liquefied natural gas and oil refueling businesses to meet market demand and strengthen its business foundation[9]. - The company aims to leverage the acquisition to enhance operational synergies with its existing natural gas and solar photovoltaic businesses[23]. - The company plans to focus on new product development and business expansion to enhance the growth potential of its energy operations[25]. - The acquisition of Chengdu Huahan is seen as a strategic move to diversify the company's energy product offerings and solutions[23]. - The company is committed to reducing costs and increasing efficiency in its clean energy operations[25]. Shareholder Information - As of September 30, 2023, Mr. Hu Yangjun holds a total of 208,171,000 shares, representing approximately 53.71% of the issued share capital[66]. - The company has a total of 204,718,000 shares held by Fengyuan Capital Limited, which accounts for 52.82% of the total issued shares[70]. - Mr. Zhang Bing holds 74,070,270 shares, which is approximately 19.11% of the issued share capital[70]. - The 2016 Share Option Scheme was terminated on September 7, 2023, and a new 2023 Share Option Scheme was adopted on the same date[74]. - The total number of shares that can be issued under all stock option plans as of September 30, 2023, was 34,947,000, representing 9.02% of the issued shares as of the report date[85]. Stock Options and Employee Compensation - The total remuneration for key management personnel for the six months ended September 30, 2023, was HKD 1,249,000, an increase from HKD 1,110,000 in the previous year[193]. - The company aims to attract and retain talented individuals through the 2016 stock option plan, which is designed to support future business development[83]. - The 2023 Share Option Scheme aims to recognize and incentivize eligible participants for their contributions to the group, enhancing performance and efficiency[92]. - The maximum number of shares that can be issued under the 2023 Share Option Scheme is capped at 10% of the total shares in issue as of the adoption date, unless prior shareholder approval is obtained[94]. Market Conditions and Competition - The company is facing increased competition in the jewelry market, which has pressured profit margins and sales figures[14]. - The demand for refined oil is expected to remain high due to increased transportation needs post-pandemic, providing opportunities for market share expansion[21]. - The transition to clean energy is expected to drive further demand for natural gas, particularly in urban heating systems[22].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何 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。 CENTRAL DEVELOPMENT HOLDINGS LIMITED 中發展控股有限公司 （於開曼群島註冊成立之有限公司） （股份代號：475） 截至二零二三年九月三十日止六個月 中期業績公告 中發展控股有限公司（「本公司」）之董事（「董事」）會（「董事會」）欣然公佈，本公司 及其附屬公司（統稱「本集團」）截至二零二三年九月三十日止六個月之未經審核中 期業績，該中期業績已經由本公司審核委員會及外聘核數師審閱，其連同上一年 度同期之比較數字如下： ...

Financial Performance - The total revenue for the fiscal year ending March 31, 2023, increased by approximately 28.4% to about HKD 247.9 million compared to HKD 193.1 million in the previous year[10]. - The energy business revenue rose by 26.8% from HKD 174.5 million to HKD 221.2 million, driven by sales of liquefied natural gas and refined oil products[11]. - The company reported a loss attributable to shareholders of approximately HKD 11.9 million for the fiscal year[6]. - Jewelry business revenue rose approximately 43.2% from about HKD 18.7 million to approximately HKD 26.7 million, with Hong Kong sales accounting for about 63.3% of total segment sales[21]. - The company's revenue for the year was approximately HKD 247.9 million, an increase of about 28.4% compared to HKD 193.1 million in the previous year, driven by growth in both energy and jewelry businesses[33]. - Energy business revenue rose approximately 26.8% from HKD 174.5 million to HKD 221.2 million, primarily due to increased sales of refined oil and liquefied natural gas[33]. - The company's sales cost for the year was approximately HKD 243.2 million, a rise of about 31.6% from HKD 184.9 million in the previous year[34]. - Gross profit decreased from approximately HKD 8.2 million to HKD 4.6 million, a decline of about 43.4%, mainly due to increased sales costs in both energy and jewelry businesses[34]. - Gross margin fell from 4.3% in the previous year to 1.9% this year, primarily due to higher sales of lower-margin energy products[35]. Business Strategy and Development - The company plans to continue exploring opportunities in oil and gas refueling stations and decentralized energy projects to ensure sustainable development[7]. - The company emphasizes a dual approach of expanding both liquefied natural gas and oil and gas refueling businesses to meet diverse customer needs[13]. - The overall business strategy focuses on combining traditional and new energy development while adjusting business scale and costs in response to market conditions[7]. - The acquisition of a 35% stake in Chengdu Huahan Energy Co., Ltd. was completed for a total consideration of HKD 52 million, enhancing the company's operational synergies in the natural gas and solar photovoltaic sectors[19]. - The acquisition of Chengdu Huahan is expected to enhance the company's business portfolio and support its goal of becoming a diversified energy product and solution provider[28]. - The company plans to explore potential energy projects, including distributed integrated energy stations, to expand its solar energy market share and revenue[29]. Market Conditions and Challenges - The demand for liquefied natural gas products increased due to China's implementation of the "carbon peak" action plan, which positively impacted sales[12]. - Solar product sales faced challenges due to complex political and economic conditions in China and overseas, with raw material prices remaining high and increased competition from state-owned enterprises[15]. - Despite challenges in the solar energy business due to international trade issues, the company aims to optimize resource allocation and explore new growth points in the domestic market[30]. - The Chinese government aims for natural gas production to exceed 230 billion cubic meters by 2025, up from 217.8 billion cubic meters in 2022, indicating strong future demand for natural gas[24]. - The company faces economic downturn risks due to global economic instability, trade conflicts, and geopolitical risks, which may lead to reduced product demand and profitability[161]. - Regulatory policy risks are present as the Chinese government strengthens energy-saving and environmental protection requirements, potentially impacting operations and increasing costs[162]. Corporate Governance - The company continues to implement high-level corporate governance, believing it is key to its development and protecting shareholder interests[81]. - The board of directors and management are committed to establishing good corporate governance practices and procedures[81]. - The company has adopted the corporate governance code as its own governance practices[81]. - The company emphasizes effective internal controls, board accountability, and transparency in its governance principles[81]. - The board believes the balance between executive and independent non-executive directors is adequate for effective checks and balances[88]. - The company has a strong focus on risk management and internal control systems[85]. - The audit committee is composed of three independent non-executive directors, with the chair being a certified public accountant, ensuring oversight of financial reporting and internal controls[102]. - The company has established three board committees: audit committee, remuneration committee, and nomination committee, to oversee specific aspects of the company's affairs[100]. Human Resources and Employee Management - The group employed 60 staff as of March 31, 2023, down from 66 in the previous year, and offers competitive salaries and performance-based bonuses[63]. - The group is committed to providing competitive compensation and benefits to attract and retain key personnel[167]. - The group regularly reviews employee compensation in line with market standards[167]. - The group faces significant human resource risks due to intense competition in the industry and region, relying on skilled personnel to maintain its competitive position[164]. Shareholder Communication and Rights - The company has adopted a shareholder communication policy to ensure shareholders receive timely and understandable information[146]. - Shareholders holding at least 10% of voting rights can request a special general meeting to discuss specific matters within two months of the request[147]. - The company encourages direct communication with shareholders and has established a website for effective information dissemination[151]. - The company has a structured process for shareholders to propose candidates for board positions, ensuring transparency and fairness in the nomination process[149]. Financial Position and Risks - The group’s net current assets and current ratio as of March 31, 2023, were approximately HKD 7.8 million and 1.3, respectively, compared to HKD 28.7 million and 1.8 in the previous year[50]. - The group’s interest-bearing bank borrowings were approximately HKD 19.8 million, with a capital debt ratio of about 36.4% as of March 31, 2023, down from 44.0% in the previous year[52]. - The group has no distributable reserves available for shareholders as of March 31, 2023[178]. - Major customers accounted for approximately 92.6% of total sales, with the largest customer representing about 57.3%[180]. - Major suppliers accounted for approximately 91.1% of total purchases, with the largest supplier representing about 64.4%[181]. - Financial risk management policies are detailed in the consolidated financial statements[166].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何 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。 CENTRAL DEVELOPMENT HOLDINGS LIMITED 中發展控股有限公司 （於開曼群島註冊成立之有限公司） （股份代號：475） 截至二零二三年三月三十一日止年度 全年業績公告 中發展控股有限公司（「本公司」）之董事（「董事」）會（「董事會」）欣然公佈，本公司 及其附屬公司（統稱為「本集團」）截至二零二三年三月三十一日止年度之經審核綜 合業績，連同截至二零二二年三月三十一日止年度之經審核比較數字如下： ...

Revenue Performance - The total revenue for the period ending September 30, 2022, was approximately HKD 135.6 million, an increase of about 92.8% compared to HKD 70.4 million in the previous period[6]. - Revenue from the energy business grew by 103.5% year-on-year, reaching HKD 119.0 million, up from HKD 58.5 million in the previous period[7]. - Revenue from the jewelry business increased by approximately 40% from HKD 11.9 million to HKD 16.7 million, with Hong Kong sales accounting for about 67% of total segment sales[17]. - The company's revenue for the period was approximately HKD 135.6 million, an increase of about 92.8% compared to approximately HKD 70.4 million in the previous period, driven by growth in both energy and jewelry businesses[29]. - Revenue from liquefied natural gas (LNG) surged to HKD 101,080,000, compared to HKD 44,329,000, representing a 128.3% increase[124]. - The energy segment generated revenue of HKD 118,980,000, significantly up from HKD 58,468,000, marking a 103.5% increase[136]. - The group's revenue from external customers in China reached HKD 124,483,000 for the six months ended September 30, 2022, compared to HKD 64,630,000 for the same period in 2021, reflecting an increase of approximately 93%[144]. Challenges and Market Conditions - The sales revenue from solar products decreased compared to the previous period due to challenges in the domestic market and rising supply chain costs[12]. - The company is facing significant challenges in the solar photovoltaic market due to trade barriers and changing project development models[12]. - The jewelry business faced challenges due to COVID-19 restrictions, particularly in major Chinese cities, impacting sales performance[21]. - The company is committed to maintaining stable operations despite adverse factors such as international energy price fluctuations and regional pandemic controls[8]. Strategic Initiatives - The company acquired a 35% stake in Chengdu Huahan Energy Co., Ltd. for a total consideration of HKD 52 million, to be settled through the issuance of convertible bonds[14]. - The company continues to expand its energy business, focusing on diversified energy products and services, including natural gas and refined oil sales[7]. - The company aims to strengthen marketing strategies and explore renewable energy project opportunities in China to adapt to market changes[12]. - The company has established strategic partnerships to explore potential energy projects, including distributed photovoltaic power stations and energy storage stations[24]. - The company aims to expand its market share and revenue in the solar energy sector by exploring various "photovoltaic+" models and developing decentralized power stations[24]. Financial Performance - The company's gross profit decreased to approximately HKD 1.9 million, a decline of about 49.7% from approximately HKD 3.8 million in the previous period, mainly due to inventory write-downs and reduced gross margins in energy and jewelry products[30]. - The gross margin fell from 5.4% in the previous period to 1.4% in the current period, primarily due to inventory write-downs and decreased margins in jewelry and liquefied natural gas products[31]. - The loss attributable to the company's owners decreased by approximately 26.9% to about HKD 5.6 million, down from approximately HKD 7.7 million in the previous period, with a basic loss per share of HKD 0.015[43]. - The total comprehensive loss for the period was HKD 13,612 thousand, compared to HKD 8,221 thousand in the previous year, representing an increase of 65.5%[106]. - The company incurred a loss before tax of HKD 5,654 thousand, an improvement from a loss of HKD 7,588 thousand in the prior year, reflecting a reduction of 25.6%[106]. Assets and Liabilities - As of September 30, 2022, the group's current assets net value and current ratio were approximately HKD 23.2 million and 1.6, respectively, compared to HKD 28.7 million and 1.8 as of March 31, 2022[45]. - The total assets and total liabilities of the group as of September 30, 2022, were approximately HKD 218.8 million and HKD 169.5 million, respectively, resulting in a liability ratio of approximately 77.5%[50]. - The group's interest-bearing bank borrowings were approximately HKD 20.4 million as of September 30, 2022, down from HKD 24.2 million as of March 31, 2022, with a capital debt ratio of approximately 41.5%[48]. - The net asset value decreased from HKD 54,917 thousand as of March 31, 2022, to HKD 49,257 thousand as of September 30, 2022, a decline of about 10.4%[110]. - The group’s total liabilities from loans from a controlling shareholder amounted to HKD 109,079,000 as of September 30, 2022, compared to HKD 122,675,000 as of March 31, 2022[173]. Shareholder Information - As of September 30, 2022, Mr. Hu Yangjun holds a total of 207,784,000 shares, representing 53.61% of the total shares[66]. - The beneficial interest of Fengyuan Capital Limited, controlled by Mr. Hu Yangjun, amounts to 204,718,000 shares, which is 52.82% of the total shares[70]. - Mr. Hu Yishi holds a total of 207,454,000 shares, representing 53.53% of the total shares[70]. - The company has adopted a share option scheme to attract and retain talent, which includes employees and key stakeholders[77]. - The maximum number of shares involved in the stock option plan is capped at 33,815,400 shares, representing 10% of the issued shares as of September 5, 2019, and approximately 8.73% of the shares issued as of the report date[78]. Corporate Governance - The company has adopted corporate governance principles emphasizing effective internal controls, board accountability, and transparency[86]. - The company has complied with all applicable code provisions of the corporate governance code during the six months ending September 30, 2022, except for a specific deviation[87]. - The audit committee, consisting of three independent non-executive directors, reviewed the financial reporting procedures and internal controls, ensuring compliance with accounting standards[96].

Financial Performance - Total revenue for the fiscal year increased by approximately 243.5% to about HKD 193.1 million compared to the previous year[6] - Energy business revenue rose by 354.1% to approximately HKD 174.5 million, up from HKD 38.4 million in the previous year[11] - Sales revenue from refined oil and liquefied natural gas products in the energy business increased from approximately HKD 0.2 million to about HKD 174.0 million[12] - Gross profit for the fiscal year increased by approximately 276.6%[6] - The company reported a loss attributable to owners of the company of approximately HKD 14.0 million for the fiscal year[6] - The company's revenue for the year was approximately HKD 193.1 million, an increase of about 243.5% compared to the previous year's HKD 56.2 million, driven by growth in both energy and jewelry businesses[35] - Energy business revenue rose from approximately HKD 38.4 million to about HKD 174.5 million, marking an increase of approximately 354.1%, primarily due to higher sales of refined oil and liquefied natural gas[35] - Jewelry business revenue slightly increased by about 4.8% from approximately HKD 17.8 million to HKD 18.7 million, supported by recovering consumer sentiment in China and Hong Kong[35] Business Strategy and Development - The company aims to enhance the long-term development potential of its natural gas business and actively seek new investment opportunities[7] - The company plans to focus on the development of refueling stations and distributed energy projects in the upcoming year[7] - The company plans to explore more investment opportunities in the energy sector, particularly in natural gas and related businesses, to enhance long-term development potential[26] - Strategic partnerships have been established with leading companies in the energy sector to explore potential energy projects, including decentralized photovoltaic power stations and charging stations[27] - The company aims to leverage its resources in energy storage and distribution to expand into diversified energy products and solutions across the country[30] Market Trends and Demand - The demand for jewelry products is gradually recovering, with several large international jewelry exhibitions resuming in Hong Kong and mainland China[7] - The company anticipates that natural gas demand in China will grow, with projected apparent consumption reaching 450 billion cubic meters by the end of the 14th Five-Year Plan[23] - The company is optimistic about the growth opportunities in China's downstream gas industry, driven by government initiatives to promote gas usage[23] - The Chinese natural gas apparent consumption reached 372.6 billion cubic meters in 2021, a 12.7% increase from 2020[12] - In 2021, China's refined oil consumption increased by 3.2% compared to 2020, indicating sustained demand for traditional fossil fuels[14] - As of December 2021, the total number of motor vehicles in China reached 395 million, with an increase of 23.5 million vehicles from the end of 2020, highlighting the ongoing reliance on fuel vehicles[14] Operational Performance - The company's sales cost for the year was approximately HKD 184.9 million, an increase of about 242.2% from the previous year's HKD 54.0 million[36] - Gross profit increased from approximately HKD 2.2 million to about HKD 8.2 million, representing a growth of approximately 276.6%[36] - Gross margin improved from 3.9% in the previous year to 4.3% in the current year, attributed to an expanded product mix in the energy business[36] - Other income rose from approximately HKD 5.3 million to about HKD 6.3 million, an increase of approximately 18.3%, mainly from rental income of investment properties[37] - The group recorded a net other income of approximately HKD 7.6 million for the year, compared to HKD 4.1 million in the previous year, primarily from fair value changes in investment properties of approximately HKD 7.2 million[39] Financial Position and Assets - As of March 31, 2022, the group’s current assets net value and current ratio were approximately HKD 28.7 million and 1.8, respectively, compared to HKD 22.7 million and 1.5 in the previous year[52] - The group’s total assets and total liabilities as of March 31, 2022, were approximately HKD 242.0 million and HKD 187.1 million, respectively, with a debt ratio of approximately 77.3%[60] - The group’s bank borrowings amounted to approximately HKD 24.2 million, with a debt-to-equity ratio of approximately 44.0%[56] - The group’s cash and bank balances were approximately HKD 20.1 million, down from HKD 37.3 million in the previous year[54] - The company’s assets, including buildings and investment properties, were mortgaged to secure bank borrowings of approximately HKD 24.2 million[62] Governance and Compliance - The company has adopted the new corporate governance code effective from April 1, 2022, aligning with the Stock Exchange's listing rules[83] - The board consists of seven members, including three executive directors and three independent non-executive directors, maintaining compliance with the listing rules[88] - The independent non-executive directors have confirmed their independence according to the guidelines set out in the listing rules[91] - The company has established a robust internal control and risk management system to ensure effective oversight of management performance[87] - The company has implemented a standard code for securities trading by directors, ensuring adherence to regulations throughout the year[86] Risk Management - The company has established a risk management framework that includes risk identification, analysis, monitoring, and reporting processes[147] - The internal audit team conducted a review of the internal control system covering transactions from April 1, 2021, to March 31, 2022, and corrective measures were taken for identified deficiencies[153] - The management team is responsible for identifying and monitoring strategic, operational, financial, reporting, and compliance risks on a daily basis[145] - The audit committee is tasked with overseeing the risk management and internal control systems and providing advice to the board[143] - The company has confirmed that there are no significant uncertainties that may cast doubt on its ability to continue as a going concern[140] Human Resources and Talent Management - The group is committed to providing competitive compensation and benefits to attract and retain key talent[176] - The group regularly reviews employee compensation in line with market standards[179] - The company had 66 employees as of March 31, 2022, an increase from 39 employees in the previous year[66] - The group acknowledges the importance of human resources planning to maintain operational quality and support business development needs[176] Shareholder Relations - The company has adopted a shareholder communication policy to ensure shareholders can exercise their rights and receive timely information[155] - The company encourages shareholders to submit suggestions for discussion at shareholder meetings, ensuring active communication[159] - The company has established a website to maintain good investor relations and provide information to shareholders and potential investors[162] - The company has a structured process for shareholders to propose candidates for the board, ensuring transparency and adherence to listing rules[160]

Financial Performance - The company recorded total sales of approximately HKD 70.4 million for the six months ended September 30, 2021, representing an increase of approximately 391.8% compared to HKD 14.3 million in the previous period[6]. - Revenue for the six months ended September 30, 2021, was HKD 70,359,000, a significant increase from HKD 14,307,000 in the same period of 2020, representing a growth of 392%[86]. - Gross profit for the same period was HKD 3,823,000, compared to HKD 558,000 in 2020, indicating a substantial increase in profitability[86]. - The company reported a loss before tax of HKD 7,588,000, an improvement from a loss of HKD 9,897,000 in the previous year[86]. - Total comprehensive loss for the period was HKD 8,221,000, compared to a comprehensive income of HKD 5,255,000 in the same period last year[86]. - The company's loss attributable to owners decreased from approximately HKD 8.8 million to about HKD 7.7 million, a reduction of approximately 13.1%[31]. - The basic loss per share was HKD 0.02, compared to HKD 0.024 in the previous period[31]. Revenue Breakdown - Revenue from the energy business grew approximately 806.2% to about HKD 58.5 million, up from approximately HKD 6.5 million in the previous period[10]. - The jewelry business generated revenue of approximately HKD 11.9 million, an increase of about 51.4% compared to HKD 7.8 million in the previous period[11]. - The revenue breakdown includes HKD 11,891,000 from jewelry products, HKD 44,329,000 from liquefied natural gas, and HKD 13,873,000 from refined oil sales[102]. - Jewelry business revenue reached HKD 11,891,000, up from HKD 7,855,000 in the previous year, marking a growth of 51%[111]. - Energy business reported a revenue of HKD 58,468,000, compared to HKD 6,452,000 in the prior year, indicating a substantial increase of 805%[111]. Growth Drivers - The acquisition of Chengdu Kaibangyuan Trading Co., Ltd. has become a significant growth driver for the company's fuel and liquefied natural gas sales[7]. - The company aims to diversify its energy business by expanding its product offerings and services, leveraging proprietary technology and partnerships[7]. - The group plans to actively explore strategic partnerships and diversify its energy projects, including distributed photovoltaic power stations and energy storage projects, to mitigate market uncertainties[15]. - The company aims to leverage its experience in solar energy and storage to expand its market share and revenue through the "solar photovoltaic + gas station" model[14]. Financial Position - As of September 30, 2021, the group's current assets net value was approximately HKD 26.8 million, with a current ratio of 1.5[34]. - Cash and bank balances were approximately HKD 18.8 million, down from HKD 37.3 million as of March 31, 2021[34]. - The group's total assets and total liabilities were approximately HKD 250.2 million and HKD 191.0 million, respectively, resulting in a debt ratio of about 76.4%[39]. - The company's equity attributable to owners increased to HKD 28,722,000 from HKD 22,791,000, indicating a strengthening of the company's financial position[89]. Expenses and Losses - Administrative expenses increased by approximately 15.9% from about HKD 8.9 million to approximately HKD 10.3 million, due to startup costs of a newly acquired subsidiary and ongoing cost control measures[26]. - The group recorded expected credit loss on accounts receivable of approximately HKD 2.8 million during the period, indicating ongoing credit risk management efforts[23]. - The company recognized share-based payment expenses of HKD 2,095,000 during the period, reflecting ongoing investment in employee compensation[91]. - The company recognized a significant impairment loss of HKD 2,805,000 on accounts receivable under the expected credit loss model[95]. Corporate Governance - The company emphasizes good corporate governance practices, focusing on effective internal controls and board accountability[67]. - The company has adopted the corporate governance code as per the listing rules and has complied with all applicable provisions during the reporting period[68]. - The company appointed Ms. Zhong Yingjie as an independent non-executive director and chairman of the audit committee on October 25, 2021, ensuring compliance with Listing Rule 3.10(2) regarding professional qualifications[70]. - The audit committee consists of three independent non-executive directors, including Ms. Zhong Yingjie as chairman, in compliance with Listing Rule 3.21[75]. Shareholder Information - The major shareholder, Mr. Hu Yangjun, holds 207,784,000 shares, representing approximately 53.61% of the total issued shares[54]. - The major shareholder, Fengyuan Capital Limited, holds 204,718,000 shares, representing approximately 52.82% of the total issued shares[58]. - The group did not recommend the payment of an interim dividend for the six months ended September 30, 2021[32]. - No dividends were declared or proposed for the six months ended September 30, 2021, consistent with the previous year[128]. Employee Information - The number of employees increased from 39 to 68 as of September 30, 2021[47]. - Total remuneration for key management personnel during the six months ended September 30, 2021, was HKD 1,114,000, compared to HKD 1,097,000 for the same period in 2020[160]. - Short-term employee benefits for key management personnel were HKD 1,053,000 for the six months ended September 30, 2021, slightly up from HKD 1,041,000 in 2020[160]. Cash Flow and Financing Activities - The net cash used in operating activities was HKD 26,781,000, compared to HKD 3,608,000 in the same period last year, indicating a significant increase in cash outflow[95]. - The company raised HKD 11,475,000 from issuing shares during the financing activities[95]. - The net cash inflow from financing activities was HKD 7,581,000, an increase from HKD 4,244,000 in the previous year[95]. - The group received loans from a controlling shareholder amounting to HKD 13,359,000 during the six months ended September 30, 2021, compared to HKD 9,776,000 in the same period of 2020[140]. Asset Management - The group acquired property, plant, and equipment totaling HKD 69,000,000 during the six months ended September 30, 2021, compared to HKD 4,000,000 in the same period of 2020[129]. - The group sold certain properties, plant, and equipment for HKD 213,000,000, resulting in a gain of HKD 213,000,000, with no sales recorded in the same period of 2020[129]. - The total value of properties, plants, equipment, investment properties, and right-of-use assets pledged as collateral for bank borrowings was HKD 94,685,000, an increase of 5.3% from HKD 89,497,000 as of March 31, 2021[145].