Financial Performance - The Group reported a consolidated loss attributable to shareholders of approximately HK$158,263,000 for the six months ended September 30, 2023, compared to a profit of approximately HK$63,412,000 for the same period in 2022[17]. - Revenue for the period increased to HK$15,256,000 from HK$13,323,000, representing a growth of approximately 14.5%[12]. - The gross profit for the period was HK$13,726,000, up from HK$11,886,000, indicating a gross profit margin improvement[12]. - The loss from continuing operations was approximately HK$149,150,000, a significant decline from a profit of HK$53,680,000 in the previous year[17]. - The loss per share from continuing and discontinued operations was approximately HK$2.28, compared to earnings per share of HK$2.01 in the prior period[18]. - The consolidated net loss was primarily due to a decrease in revenue, increased losses on investment properties, and higher finance costs[17]. Assets and Liabilities - Total assets as of September 30, 2023, were HK$5,700,875,000, an increase from HK$5,624,267,000 as of March 31, 2023[13]. - Total liabilities increased to HK$2,616,864,000 from HK$2,389,101,000, reflecting a rise in financial obligations[13]. - The equity attributable to owners of the Company decreased to HK$3,084,011,000 from HK$3,235,166,000, indicating a decline in shareholder equity[13]. Rental Income and Property Investments - The Group's total rental income from continuing operations increased by approximately 17.7% to approximately HK$14,049,000 for the Period, compared to approximately HK$11,933,000 in the 2022 Period[39]. - The Group recorded property rental income of approximately HK$13,283,000 in Hong Kong, representing an increase of approximately 27.0% compared to the 2022 Period, primarily due to acquisitions of investment properties in February 2023[46]. - In Hong Kong, the Group owned residential, commercial, and industrial units with a total carrying amount of approximately HK$1,176,500,000 as of 30 September 2023, a slight decrease from approximately HK$1,200,400,000 as of 31 March 2023[46]. - The Group did not record any property rental income from the PRC properties since January 2023 due to land resumption, which previously generated approximately HK$3,723,000 in the 2022 Period[54]. Investment Activities - The Group recorded a fair value gain in securities and other investments from continuing operations of approximately HK$2,522,000, compared to a loss of approximately HK$10,233,000 in the previous period[67][68]. - The Group's investment in equity securities listed in Hong Kong and overseas amounted to approximately HK$51,673,000 as of September 30, 2023, up from approximately HK$23,914,000 as of March 31, 2023[72][74]. - The investment portfolio comprised 12 equity securities as of September 30, 2023, down from 104 as of March 31, 2023[72][74]. - The Group received dividend income from listed securities investments of approximately HK$25,000 during the period, down from approximately HK$1,551,000 in the previous period[67][68]. Loan Financing Business - The Group recorded interest income from loan financing business of approximately HK$1,207,000 for the Period, a decrease of approximately 13.2% compared to HK$1,390,000 in the 2022 Period[84]. - The segment profit from loan financing business was approximately HK$343,000 for the Period, down from approximately HK$5,597,000 in the 2022 Period[84]. - The outstanding principal amount of loans receivable as of 30 September 2023 was approximately HK$34,023,000, compared to approximately HK$52,250,000 as of March 31, 2023[84]. - The Group's loan financing business primarily targets individuals and corporate entities with short-term funding needs[84]. Capital and Shareholder Information - The Group does not recommend the payment of an interim dividend for the Period, consistent with the 2022 Period[23]. - The total number of issued ordinary shares was 103,148,116 as of September 30, 2023, down from 2,125,924,676 shares as of March 31, 2023[127][130]. - The Company announced a capital reorganisation on May 29, 2023, consolidating every 40 existing shares into one consolidated share, reducing the total number of issued shares from 2,125,924,676 to 53,148,116[146][150]. Future Outlook and Strategy - The Company is focusing on improving operational efficiency and exploring new market opportunities to enhance future performance[17]. - The Group remains cautiously optimistic about the prospects of the property and securities markets in Hong Kong despite global economic uncertainties, high inflation, and interest rates[195]. - The Group will adopt flexible and cautious business strategies to navigate the current market environment and ensure long-term growth[195]. - The Group aims to provide steady and favorable returns to shareholders while exploring potential projects to enhance stakeholder value[191].

Hong Kong Exchanges and Clearing Limited and The Stock 香港交易及結算所有限公司及香港聯合交 Exchange of Hong Kong Limited take no responsibility for 易所有限公司對本公佈的內容概不負責， the contents of this announcement, make no representation as 對其準確性或完整性亦不發表任何聲明， to its accuracy or completeness and expressly disclaim any 並明確表示，概不對因本公佈全部或任何 liability whatsoever for any loss howsoever arising from or 部份內容而產生或因倚賴該等內容而引致 in reliance upon the whole or any part of the contents of this 之任何損失承擔任何責任。 announcement. EMINENCE ENTERPRISE LIMITED 高山企業有限公 ...

Financial Performance - For the year ended March 31, 2023, the Group's revenue from continuing operations was approximately HK$27,194,000, a decrease of approximately HK$9,887,000 or 26.7% compared to HK$37,081,000 in 2022[12]. - The consolidated profit attributable to owners of the Company for the year was approximately HK$63,572,000, down from approximately HK$116,447,000 in 2022[12]. - The gross profit margin for the year was approximately 89.1%, compared to 92.2% in 2022[12]. - Profit before taxation for the year was approximately HK$57,321,000, compared to HK$87,219,000 in the previous year[9]. - Basic earnings per share from continuing and discontinued operations were HK3.75 cents, down from HK12.50 cents in 2022[12]. - Diluted earnings per share from continuing and discontinued operations were HK3.43 cents, down from HK9.77 cents in 2022[12]. - For the year ended March 31, 2023, the Group's consolidated profit attributable to shareholders was approximately HK$63,572,000, a decrease of approximately 45.4% compared to HK$116,447,000 in 2022[19]. - Revenue from continuing operations for the year was approximately HK$27,194,000, representing a decrease of approximately HK$9,887,000 or approximately 26.7% from HK$37,081,000 in 2022[20]. - The gross profit margin for the year was approximately 89.1%, down from approximately 92.2% in 2022[20]. - Basic and diluted earnings per share from continuing operations were HK3.75 cents, down from HK12.50 cents in 2022, while from discontinued operations, they were HK3.43 cents compared to HK9.77 cents in 2022[21][25]. Assets and Liabilities - Total assets as of March 31, 2023, were HK$5,624,267,000, an increase from HK$4,879,808,000 in 2022[9]. - Total liabilities increased to HK$2,389,101,000 from HK$1,864,621,000 in the previous year[9]. - Equity attributable to owners of the Company rose to HK$3,235,166,000 from HK$3,015,187,000 in 2022[9]. - As of March 31, 2023, the Group's total carrying amount of properties in Hong Kong was approximately HK$1,200,400,000, an increase of approximately 50.6% from HK$796,200,000 in 2022[42]. - The Group's total bank borrowings increased to approximately HK$1,871,919,000 from HK$1,662,307,000 in 2022, maintaining a gearing ratio of approximately 0.6[102]. - The total cash and bank balances as of March 31, 2023, were approximately HK$354,002,000, compared to HK$82,099,000 in 2022[105]. - The outstanding principal amount of loans receivable as of March 31, 2023, was approximately HK$52,250,000, down from approximately HK$94,381,000 in 2022[67]. - The allowance for loans receivable increased to approximately HK$53,480,000 as of March 31, 2023, compared to approximately HK$47,239,000 in 2022, reflecting a reassessment of credit risk due to economic uncertainties[75]. Property Development and Investment - The Group is engaged in property development and investment, with major projects including Matheson Street and King Lam Street, expected to complete in late 2023[30][31]. - The Group plans to redevelop the combined site at Kennedy Town and Fung Wah into mixed-use and modern industrial buildings, with completion expected in 2025 and 2026 respectively[36][37]. - Rental income from continuing operations was approximately HK$24,408,000, a decrease of approximately 20.0% from HK$30,528,000 in 2022, primarily due to property demolitions for development[41]. - The Group recorded property rental income from continuing operations in Hong Kong of approximately HK$21,706,000 for the year ended March 31, 2023, representing a decrease of approximately 21.9% compared to HK$27,793,000 in 2022[42]. - In Singapore, the Group owned two residential units with a total carrying amount of approximately HK$137,041,000 as of March 31, 2023, down from HK$183,680,000 in 2022, a decrease of approximately 25.4%[43]. - The property rental income from Singapore for the year ended March 31, 2023, was approximately HK$2,702,000, a slight decrease of approximately 1.2% from HK$2,735,000 in 2022[43]. - In the PRC, the Group recorded property rental income of approximately HK$4,602,000 and management fee income of approximately HK$10,807,000, representing decreases of approximately 43.9% and 40.0% respectively compared to 2022[45]. Loan Financing Business - Interest income from the loan financing business from continuing operations decreased by approximately 57.5% to HK$2,786,000 for the year ended March 31, 2023, compared to HK$6,553,000 in 2022[67]. - The segment loss of the loan financing business from continuing operations was approximately HK$9,801,000 for the year ended March 31, 2023, compared to a segment profit of approximately HK$13,082,000 in 2022[67]. - The Group's loan financing business primarily targets individuals and corporate entities with short-term funding needs, requiring sufficient collateral for borrowings[67]. - The Group's credit policies include due diligence, credit appraisal, and continuous monitoring to manage credit risks effectively[70]. - The Group mainly provides short-term loans with maturities not exceeding two years, with repayment terms influenced by borrowers' repayment ability and market conditions[71]. - The Group's interest income from discontinued operations in loan financing was approximately HK$503,000 for the year ended March 31, 2023, down from approximately HK$1,177,000 in 2022, representing a decrease of approximately 57.3%[67]. - The largest borrower accounted for approximately 26% of the Group's loans receivable as of March 31, 2023, up from 17% in 2022[74]. Corporate Governance and Strategy - The Company is committed to maintaining high standards of corporate governance practices, integrating social and environmental concerns into its business operations[170]. - The Company has fully complied with all code provisions of the Corporate Governance Code during the year, ensuring diligence, accountability, and professionalism[171]. - The Group is committed to enhancing long-term values and interests for shareholders and stakeholders, focusing on sustainable growth in financial and ESG performance[192]. - The Group emphasizes disciplined management of revenue, profitability, margins, costs, capital, and investment returns to capture ongoing cost and revenue opportunities[192]. - The Board plays a key role in overseeing ESG strategy and governance, aiming to create long-term growth and sustainable value for stakeholders[193]. - The Group has established an ESG governance structure to oversee sustainability and ESG-related issues and risks[193]. - The Group promotes its corporate culture through various policies, including whistleblowing and anti-corruption policies[188]. - The roles of chairman and chief executive are separated to ensure effective governance[198]. - The Board consists of experienced individuals, with half being independent non-executive Directors, ensuring a balance of power and authority[199]. - The current leadership structure will be reviewed by the Board when appropriate, indicating a commitment to governance best practices[199].

Hong Kong Exchanges and Clearing Limited and The Stock 香港交易及結算所有限公司及香港聯 Exchange of Hong Kong Limited take no responsibility for 合交易所有限公司對本公佈的內容概 the contents of this announcement, make no representation 不負責，對其準確性或完整性亦不發 as to its accuracy or completeness and expressly disclaim 表任何聲明，並明確表示，概不對因本 any liability whatsoever for any loss howsoever arising from 公佈全部或任何部份內容而產生或因 or in reliance upon the whole or any part of the contents of 倚賴該等內容而引致之任何損失承擔 this announcement. 任何責任。 EMINENCE ENTERPRISE LIMITED 高山企業有限 ...

Financial Performance - Revenue for the six months ended 30 September 2022 was HK$26,386,000, a decrease of 27.7% compared to HK$36,436,000 for the same period in 2021[10]. - Gross profit for the same period was HK$24,949,000, down 28.5% from HK$34,913,000 in 2021[10]. - Profit attributable to shareholders for the period was HK$63,412,000, a decline of 22.5% from HK$81,785,000 in the corresponding period of 2021[14]. - Basic earnings per share decreased to 5.02 HK cents from 8.78 HK cents, representing a drop of 42.5%[15]. - The decrease in net profit was attributed to a decline in revenue and a decrease in write-back on properties held for development for sale[14]. Assets and Liabilities - Total assets as of 30 September 2022 were HK$5,035,900,000, an increase of 3.2% from HK$4,879,808,000 as of 31 March 2022[10]. - Total liabilities were HK$1,868,818,000, slightly up from HK$1,864,621,000 as of 31 March 2022[10]. - The Group's total bank borrowings were approximately HK$1,761,704,000 as of September 30, 2022, compared to approximately HK$1,662,307,000 as of March 31, 2022[92]. - The gearing ratio remained stable at approximately 0.6 as of September 30, 2022, consistent with the ratio as of March 31, 2022[92]. - The current ratio improved to approximately 5.0 as of September 30, 2022, up from approximately 3.8 as of March 31, 2022[92]. Property Development and Investment - The Group's core businesses include property development and property investment, with significant projects ongoing[21]. - The Matheson Street project is under construction, expected to provide a gross floor area of approximately 42,854 square feet upon completion in early 2023[23]. - The Group plans to redevelop the site at 121 King Lam Street, Kowloon, with an area of approximately 5,483 square feet into a modern industrial building, with completion expected in late 2023[29]. - The combined site area of Davis Street and Catchick Street is approximately 7,122 square feet, with plans for a mixed-use development expected to complete in 2025[30]. - The total site area of Fung Wah Factorial Building is approximately 9,206 square feet, with plans for redevelopment into a high-rise modern industrial building, expected to complete in 2025[36]. Rental Income - The Group's total rental and management fee income decreased by approximately 21.7% to approximately HK$24,487,000 for the period, down from approximately HK$31,268,000 in the previous period[37]. - In Hong Kong, the Group's property rental income was approximately HK$10,457,000, representing a decrease of approximately 38.3% compared to HK$16,949,000 in the previous period[43]. - In Singapore, the Group recorded property rental income of approximately HK$1,476,000, reflecting an increase of approximately 5.7% from HK$1,396,000 in the previous period[44]. - In the PRC, the Group's industrial complex had a total carrying amount of approximately HK$345,543,000, with rental income of approximately HK$3,723,000 for the period[49]. Investment and Securities - The Group recorded a fair value loss in securities and other investments of approximately HK$9,850,000, compared to a loss of approximately HK$15,565,000 in the previous period[50]. - As of September 30, 2022, the Group's investment in equity securities listed in Hong Kong and the USA amounted to approximately HK$17,895,000, down from approximately HK$52,818,000 as of March 31, 2022[55]. - The Group's securities investments in Hong Kong and the US amounted to approximately HK$17,895,000, a decrease from approximately HK$52,818,000 as of March 31, 2022[57]. Loan Financing - The Group recorded interest income from loan financing of approximately HK$1,899,000 for the period, representing a decrease of approximately 63.3% compared to HK$5,168,000 in the previous period[61]. - The segment profit from loan financing was approximately HK$6,987,000, a significant improvement from a segment loss of approximately HK$21,177,000 in the previous period[61]. - The outstanding principal amount of loans receivable as of September 30, 2022, was approximately HK$69,350,000, down from approximately HK$94,381,000 as of March 31, 2022[72]. - The Group's credit risk concentration for loans receivable was approximately 68% from a few borrowers, with collateral properties valued at approximately HK$208,655,000[72]. - The largest borrower accounted for approximately 25% of the loans receivable, while the top five borrowers together accounted for approximately 64%[72]. Corporate Governance - The Company has maintained a sufficient public float of more than 25% of the issued Shares as required under the Listing Rules as of the date of this interim report[184]. - The Company fully complied with the Corporate Governance Code during the Period, except for certain deviations disclosed[191]. - The roles of Chairman and Chief Executive Officer are held by the same individual, which the Board believes enhances efficiency in executing long-term strategies[192]. - The Group does not have an internal audit function, but the effectiveness of risk management and internal control systems was reviewed and deemed adequate[196]. - The Audit Committee identified areas for improvement in the internal control systems, and appropriate measures have been taken[196]. Share Capital and Dividends - The Board does not recommend the payment of an interim dividend for the period, consistent with the previous year[16]. - As of September 30, 2022, the total number of issued ordinary shares increased to 2,125,924,676 from 931,458,010 as of March 31, 2022[100][103]. - The net proceeds from the placing under General Mandate amounted to approximately HK$18,380,000, fully utilized for the Group's general working capital[122][124]. - A total of 607,400,000 placing shares were successfully placed at a price of HK$0.068 per share, increasing the total number of issued shares from 1,518,524,676 to 2,125,924,676[134][136]. - The net proceeds from the placing amounted to approximately HK$40,800,000, which will be used for the Group's general working capital[135][137]. Employee and Operational Insights - Employee costs for the period were approximately HK$14,308,000, an increase from approximately HK$12,749,000 in the previous period[153][155]. - The Group had 59 employees as of 30 September 2022, down from 63 employees a year earlier[153][155]. - The Group remains cautiously optimistic about the prospects of the property and securities markets in Hong Kong despite global economic uncertainties[158]. - The Company will continue to identify investment and divestment opportunities that align with its investment strategy during challenging market conditions[159]. - The company maintains a cautiously optimistic outlook for the Hong Kong property and securities markets despite uncertainties due to high inflation, rising interest rates, geopolitical tensions, and the ongoing COVID-19 pandemic[161].

Financial Performance - For the year ended March 31, 2022, the Group's revenue decreased by approximately 19.7% to HK$64,475,000 from HK$80,253,000 in 2021[19] - The Group's profit attributable to owners was approximately HK$116,447,000, a significant recovery from a loss of approximately HK$180,793,000 in the previous year[12] - The gross profit margin for the year was approximately 95.5%, slightly up from 95.3% in 2021[12] - Basic earnings per share for the year were HK12.50 cents, compared to a loss of HK19.41 cents per share in 2021[20] - Diluted earnings per share were HK9.77 cents, also an improvement from a loss of HK19.41 cents per share in the previous year[20] - The Group's net profit was primarily driven by gains on investment properties and write-backs on properties held for development, despite a decrease in revenue[18] - Profit before taxation for the year was approximately HK$123,497,000, a significant recovery from a loss of approximately HK$190,743,000 in 2021[68] - The Group's gross profit for the year was approximately HK$61,565,000, representing a decrease of approximately 19.5% from HK$76,515,000 in 2021, while the gross profit margin increased to approximately 95.5% from 95.3%[65] Revenue Sources - The total rental and management fee income for the Group was approximately HK$56,745,000, representing a decrease of approximately 7.4% from HK$61,309,000 in 2021[41] - Property rental income in Hong Kong decreased by approximately 23.1% to approximately HK$27,793,000 from HK$36,160,000 in 2021[42] - In Singapore, property rental income increased by approximately 1.4% to approximately HK$2,735,000 from HK$2,696,000 in 2021[43] - In the PRC, property rental income increased by approximately 27.9% to approximately HK$8,210,000, while management fee income rose by approximately 12.3% to approximately HK$18,007,000 compared to 2021[44] Assets and Liabilities - Total assets increased to HK$4,879,808,000 from HK$4,613,337,000 in 2021, while total liabilities rose to HK$1,864,621,000 from HK$1,732,044,000[9] - As of March 31, 2022, the Group's investment in equity securities amounted to approximately HK$52,818,000, down from approximately HK$84,616,000 in 2021[50] - The outstanding principal amount of loans receivable as of March 31, 2022, was approximately HK$94,381,000, down from approximately HK$130,179,000 in 2021[58] - The Group's bank loans amounted to approximately HK$1,662,307,000 as of March 31, 2022, up from approximately HK$1,514,933,000 in 2021, secured by properties with a net book value of approximately HK$3,020,650,000[111] Investment and Development - The Group plans to complete the redevelopment of the Matheson Street project in early 2023, providing a gross floor area of approximately 42,854 square feet[28] - The King Lam Street project is expected to complete in late 2023, with foundation work already completed[29] - The Group's acquisition of the Fung Wah Factorial Building was completed on July 23, 2021, with plans to redevelop it into a high-rise modern industrial building, expected to complete in 2025[36] - The Group is committed to identifying suitable investment and divestment opportunities that align with its objectives and investment criteria, aiming to replenish its property portfolio[153] Corporate Governance - The Company has fully complied with the Corporate Governance Code, ensuring diligence, accountability, and professionalism[176] - The dual leadership role of the Chairman and CEO has been maintained for efficiency, with half of the Board being independent non-executive Directors[180] - The Board believes in the principles of transparency, accountability, and independence to maximize shareholder value[169] - The Board consists of six Directors, including three executive Directors and three independent non-executive Directors, ensuring a balanced composition[186] Employee and Operational Insights - As of March 31, 2022, the Group had 64 employees, an increase from 62 in 2021, with total staff costs amounting to approximately HK$27,898,000, up from approximately HK$24,187,000 in 2021[150] - The Group's core competency lies in operational excellence across various property projects, capturing cost and revenue opportunities[175] - The Board and management are focused on fostering a corporate culture that supports long-term sustainable business models[171] Risk Management and Sustainability - The Group faced various macroeconomic risks, including volatility in financial markets and potential interest rate hikes, which could impact its operations[143] - The Group is committed to environmental sustainability and has implemented measures to minimize carbon footprints and enhance environmental awareness among stakeholders[142] - The Group acknowledges various risks affecting its business, including global financial market volatility, inflation pressures, and geopolitical uncertainties, which may impact its financial performance and outlook[148] Future Outlook - The Group remains cautiously optimistic about the prospects of the property and securities markets in Hong Kong, expecting continued long-term growth despite global economic uncertainties[152] - The Group will continue to focus on its principal businesses, including property development, investment in securities, and loan financing, while exploring new potential projects to provide steady returns for shareholders[151]

Financial Performance - The Group reported an unaudited consolidated profit attributable to shareholders of approximately HK$81,785,000 for the six months ended 30 September 2021, compared to a loss of approximately HK$64,552,000 for the corresponding period in 2020[12]. - Basic and diluted earnings per share for the Period were approximately 8.78 HK cents and 6.66 HK cents respectively, compared to a basic and diluted loss per share of approximately 6.93 HK cents for the 2020 Period[13]. - The increase in profit was mainly due to an increase in gain on change in fair value of investment properties and a write-back on properties held for development for sale[12]. - The Group's financial performance reflects a significant recovery compared to the previous year's loss, highlighting improved operational efficiency[12]. - As of September 30, 2021, the Group's total rental and management fee income increased by approximately 4.2% to approximately HK$31,268,000 compared to HK$30,008,000 in the previous period[41][44]. - The Group recorded property rental income in Hong Kong of approximately HK$16,949,000, representing a decrease of approximately 2.1% compared to HK$17,318,000 in the previous period[42][45]. - In Singapore, the Group's property rental income increased by approximately 3.2% to approximately HK$1,396,000 from HK$1,353,000 in the previous period[43][46]. - The Group recorded a fair value loss in securities investments of approximately HK$15,565,000, compared to a loss of approximately HK$4,625,000 in the previous period[50][53]. - Finance costs decreased by approximately HK$5,904,000 or approximately 36.9% to approximately HK$10,109,000 for the period, down from approximately HK$16,013,000 in the 2020 period[122]. Business Operations - The Group's core businesses include property development and property investment, which are key profit drivers[19]. - The Group owns a site at Nos. 11, 13 and 15 Matheson Street, with a total area of approximately 2,857 square feet, expected to provide a gross floor area of approximately 42,854 square feet upon completion in April 2022[21]. - The Group plans to redevelop the Wing Cheong Factory Building, located at No. 121 King Lam Street, with a site area of approximately 5,483 square feet, and the project is expected to complete in December 2023[29]. - The construction of the superstructure for the Matheson Street project is ongoing, indicating active development efforts[21]. - The total site area for the combined Davis Street and Catchick Street project is approximately 7,122 square feet, expected to complete in March 2025[32][33]. - The Group plans to redevelop the Fung Wah Factorial Building, with a total site area of approximately 9,203 square feet, expected to complete in August 2025[38][39]. - The Group's investment in securities and loan financing business also contributes to its overall performance[19]. - The Group's total carrying amount of properties in Huzhou City, PRC, was approximately HK$375,090,000 as of September 30, 2021, up from approximately HK$359,107,000 as of March 31, 2021[49][52]. Shareholder Information - The Board does not recommend the payment of an interim dividend for the Period, consistent with the 2020 Period[14]. - The share offer was declared unconditional on April 7, 2021, with valid acceptances received for 393,683,175 shares, representing approximately 42.27% of the issued shares[74]. - As of September 30, 2021, the total number of issued ordinary shares was 931,458,010, with a nominal value of HK$0.20 per share[109]. - Ace Winner Investment Limited holds 484,538,175 ordinary shares, representing approximately 52.01% of the total issued shares[147]. - Goodco Development Limited has a total of 550,565,295 shares (161,445,295 ordinary shares and 389,120,000 underlying shares), accounting for approximately 59.10% of the total issued shares[147]. - Easyknit Properties Holdings Limited also holds 550,565,295 shares, which is 59.10% of the total issued shares[147]. - Easyknit International Holdings Limited possesses 27,000,000 ordinary shares, making up about 2.90% of the total issued shares[150]. - Winterbotham Holdings Limited has a total of 1,085,490,840 shares (696,370,840 ordinary shares and 389,120,000 underlying shares), representing approximately 116.53% of the total issued shares[153]. - Hu Rong, a beneficial owner, holds 47,030,000 ordinary shares, which is about 5.05% of the total issued shares[153]. Financial Position - As of September 30, 2021, the Group's total assets amounted to approximately HK$4,716,620,000, an increase from approximately HK$4,613,337,000 as of March 31, 2021[64]. - The Group's total bank borrowings as of September 30, 2021, were approximately HK$1,555,249,000, compared to approximately HK$1,514,933,000 as of March 31, 2021[65]. - The Group's gearing ratio was approximately 0.5 as of September 30, 2021, consistent with the ratio as of March 31, 2021[65]. - The Group's current ratio was approximately 4.9 as of September 30, 2021, down from approximately 5.5 as of March 31, 2021[65]. - The Group's cash and bank balances decreased to approximately HK$44,295,000 as of September 30, 2021, from approximately HK$112,260,000 as of March 31, 2021[64]. - The outstanding principal amount of loans receivable as of September 30, 2021, was approximately HK$107,806,000, down from approximately HK$130,179,000 as of March 31, 2021[61]. - Interest income from loan financing business decreased by approximately 54.5%, amounting to HK$5,168,000 compared to HK$11,349,000 in the 2020 period[61]. - The segment loss for loan financing business was approximately HK$21,177,000 for the period, contrasting with a segment profit of approximately HK$8,324,000 in the 2020 period[61]. Corporate Governance - The Company has confirmed compliance with the Model Code for Securities Transactions by Directors throughout the period[180]. - The company has fully complied with the Corporate Governance Code during the reporting period, except for certain disclosed deviations[169]. - The roles of chairman and chief executive are held by the same individual, which the company deems efficient for effective planning and execution of long-term strategies[171]. - The group does not have an internal audit function, but the board reviewed the effectiveness of risk management and internal control systems, finding them adequate[175]. - The Audit Committee consists of three independent non-executive Directors, who reviewed the unaudited interim condensed consolidated financial statements for the period[186]. - The Group's auditor, Deloitte Touche Tohmatsu, reviewed the interim financial information in accordance with Hong Kong Standard on Review Engagements 2410[186]. Future Outlook - The Group remains cautiously optimistic about the prospects of the property and securities markets in Hong Kong despite global economic uncertainties[135]. - The Company will continue to seek appropriate investment and divestment opportunities to enhance its property portfolio and long-term value[136]. - The Group will focus on its principal businesses while exploring potential projects to provide steady returns for shareholders[134]. - The Group plans to utilize the unutilized proceeds from the rights issue according to the intended uses disclosed in the prospectus[133]. Employee Information - As of September 30, 2021, the Group had 63 employees, an increase from 59 employees as of September 30, 2020[190]. - Staff costs for the period amounted to approximately HK$12,749,000, compared to approximately HK$11,366,000 for the same period in 2020, reflecting an increase of about 12.1%[190]. - The Group has adopted a share option scheme to motivate valued employees[190]. Miscellaneous - The Group had no significant contingent liabilities as of September 30, 2021[108]. - The Group did not have significant exposure to foreign exchange fluctuations during the period, considering the risk to be minimal[107]. - There are no significant events affecting the Group since September 30, 2021, up to the date of this interim report[191]. - The Board expresses gratitude to the management team and employees for their hard work and dedication, which are vital for the Company's growth[198]. - The Group's forward-looking statements are based on current beliefs and are subject to risks and uncertainties[197].

Financial Performance - For the year ended March 31, 2021, the Group's loss attributable to owners was approximately HK$180,793,000, a decrease from HK$206,192,000 in the previous year, representing a reduction of about 12.7%[10] - The gross profit margin for the year was approximately 95.3%, compared to 94.8% in 2020[10] - Consolidated revenue for the year was approximately HK$80,253,000, reflecting a slight decrease of approximately 0.5% from HK$80,682,000 in the previous year[18] - The basic and diluted loss per share for the year was HK19.41 cents, a significant improvement from HK70.68 cents in 2020[18] - The decrease in loss was primarily due to a reduction in fair value losses of investment properties and a net gain on changes in fair value of financial assets[17] - Loss before taxation for the year was approximately HK$190,743,000, an improvement from a loss of approximately HK$209,657,000 in the previous year[69] - The Group recorded a segment loss in loan financing of approximately HK$35,799,000 for the year, compared to a profit of approximately HK$6,060,000 in 2020[61] - The total carrying amount of the Group's properties in Hong Kong was approximately HK$775,500,000 as of March 31, 2021, slightly down from HK$777,100,000 in 2020[40] - The Group's total bank borrowings as at 31 March 2021 were approximately HK$1,514,933,000, compared to approximately HK$1,431,740,000 in 2020[80] - The Group's current ratio as at 31 March 2021 was approximately 5.5, down from approximately 5.9 in 2020[80] Property Development and Investment - The Group successfully acquired properties at Nos. 93 and 95 Catchick Street and was the successful bidder for Fung Wah Factorial Building, indicating a focus on expanding its industrial and non-residential sectors[11] - The Group owns the site at Matheson Street, with a total area of approximately 2,857 square feet, expected to provide a gross floor area of approximately 42,778 square feet upon completion in February 2022[25] - The Wing Cheong Factory Building, with a site area of approximately 5,483 square feet, is planned for redevelopment into a modern industrial building, expected to complete in December 2023[26] - The Group owns approximately 93.33% of the Fung Wah Factorial Building and plans to redevelop it into a high-rise modern industrial building[34] - The Group's core businesses include property development and investment, with a focus on maximizing the usage and potential of its properties[23] - The Group's capital expenditure for the year ended March 31, 2021, was approximately HK$295,000 for property, plant, and equipment, and approximately HK$4,873,000 for investment properties[115] Rental and Management Income - The Group's total rental and management fee income for the year was approximately HK$61,309,000, representing an increase of approximately 0.3% compared to HK$61,142,000 in 2020[39] - In Hong Kong, the Group recorded property rental income of approximately HK$36,160,000, a decrease of approximately 9.5% from HK$39,945,000 in 2020[40] - In the PRC, property rental income increased by approximately 28.1% to HK$6,420,000, and management fee income increased by approximately 19.2% to HK$16,033,000 compared to 2020[42] - The Group's rental income from properties in China increased by approximately 28.1% to HK$6,420,000, and management fee income rose by approximately 19.2% to HK$16,033,000[46] - The Group's rental income from properties in Singapore decreased by approximately 1.6% to HK$2,696,000[45] Investment Activities - As of March 31, 2021, the Group's investment in equity securities listed in Hong Kong and the USA amounted to approximately HK$84,616,000, an increase from approximately HK$39,606,000 in 2020[55] - The Group recorded a fair value gain in securities and other investments of approximately HK$18,744,000 for the year, compared to a loss of approximately HK$20,429,000 in 2020[48] - The Group's segment profit from securities investments was approximately HK$18,814,000, a significant recovery from a segment loss of approximately HK$22,450,000 in the previous year[52] - The Group received dividend income from listed securities of approximately HK$1,569,000 during the year[52] - The Group acquired a total of 3,800,000 shares of China Construction Bank Corporation for an aggregate purchase price of approximately HK$22,534,000, averaging HK$5.93 per share[53] - The Group purchased 394,275 American Depository Shares of RLX Technology Inc. at US$12.00 per share, totaling approximately HK$36,668,000, and later disposed of 210,929 shares at an average price of approximately US$21.93, realizing a gain of approximately HK$16,236,000[51] - The Group acquired 680,000 shares of Chinese Energy Holdings Limited for an aggregate purchase price of HK$489,600, averaging HK$0.72 per share[54] - The Group's investment portfolio comprised 7 equity securities as of March 31, 2021, up from 5 in 2020[55] Corporate Governance - The Board of Directors consists of six members, including three executive directors and three independent non-executive directors[160] - The Company has fully complied with the Corporate Governance Code, except for certain disclosed deviations[151] - The roles of Chairman and Chief Executive Officer are held by the same individual, Mr. Lai Law Kau, since October 1, 2020, which is deemed efficient for long-term strategy execution[153] - The Group does not have an internal audit function; however, the Board reviewed the internal control system and identified areas for improvement[158] - The Company is committed to maintaining transparency, accountability, and independence to maximize shareholder value[149] - The Board is responsible for strategic decisions and operational performance, ensuring objective consideration of all issues[159] - The Company has a Remuneration Committee and a Nomination Committee, with independent directors serving on these committees[161] - The Board will review the current governance structure when appropriate, considering the balance of power and authority[153] - The Company provides comprehensive induction packages for newly appointed directors to ensure they understand the Group's operations and governance policies[179] - The Board focuses on the growth and financial performance of the Group, delegating day-to-day operations to executive directors and senior management[177] Future Outlook and Strategy - The Group aims to strengthen its income base and competitive edge to create long-term value for shareholders[11] - The company plans to continue focusing on property development, investment, securities investment, and loan financing, while exploring new potential projects[129] - The company remains cautiously optimistic about the property and securities markets in Hong Kong despite global economic uncertainties[130] - The company will continue to identify suitable investment and divestment opportunities to enhance its property portfolio[131]

Financial Performance - The Group reported an unaudited consolidated loss attributable to shareholders of approximately HK$64,552,000 for the six months ended 30 September 2020, compared to a consolidated loss of approximately HK$12,369,000 for the same period in 2019[12]. - Basic and diluted loss per share for the Period was approximately 6.93 HK cents, slightly improved from 7.44 HK cents in the 2019 Period[13]. - The company reported a loss before taxation of HK$66,091,000 for the six months ended September 30, 2020, compared to a loss of HK$12,503,000 in the prior year[181]. - The company reported a loss attributable to owners of HK$64,552,000 for the six months ended September 30, 2020, compared to a loss of HK$12,369,000 in the same period of 2019, indicating a significant increase in losses[183]. - The total comprehensive expense for the period included significant losses, emphasizing the need for strategic adjustments[187]. Revenue and Income - Revenue for the six months ended September 30, 2020, was HK$41,357,000, compared to HK$39,950,000 for the same period in 2019, representing an increase of approximately 3.5%[181]. - Rental income decreased to HK$22,664,000 from HK$23,899,000, a decline of about 5.2% year-over-year[181]. - Management fee income increased to HK$7,344,000, up from HK$5,993,000, reflecting a growth of approximately 22.5%[181]. - The Group's total rental and management fee income increased by approximately 0.4% to approximately HK$30,008,000 for the period[43]. Assets and Liabilities - As of September 30, 2020, the Group's total assets amounted to approximately HK$4,679,276,000, an increase from approximately HK$4,602,993,000 as of March 31, 2020[70]. - The total carrying amount of residential, commercial, and industrial units in Hong Kong was approximately HK$778,799,000 as of September 30, 2020[44]. - The Group's total carrying amount of factory premises and dormitories in Huzhou City, PRC, was approximately HK$347,896,000 as of September 30, 2020[50]. - The Group's current ratio remained stable at approximately 5.9 as of September 30, 2020[71]. - The Group's total bank borrowings as of September 30, 2020, were approximately HK$1,537,813,000, compared to approximately HK$1,431,740,000 as of March 31, 2020[71]. Investment Activities - The Group's investment strategy includes securities investment and loan financing, complementing its core property businesses[18]. - The Group recorded a fair value loss in securities investments of approximately HK$4,625,000, an improvement from approximately HK$6,992,000 in the previous period[55]. - The Group's investment in equity securities listed in Hong Kong was approximately HK$35,478,000 as of September 30, 2020, down from approximately HK$39,606,000 as of March 31, 2020[60]. - The Group will continue to maintain a diversified investment portfolio to minimize financial risks and closely monitor the performance of its investments[61]. Property Development and Redevelopment - The Group's core businesses include property development and property investment, with significant projects ongoing during the Period[18]. - The Matheson Street project, expected to complete in February 2022, will provide a gross floor area of approximately 42,778 square feet[20]. - The Wing Cheong Factory Building redevelopment project is expected to complete in December 2023, maximizing the usage of the site area of approximately 5,483 square feet[28]. - The Group continues to focus on property redevelopment, particularly in acquiring old buildings for renewal and redevelopment[19]. Financial Management and Governance - The Group's audit committee has reviewed the interim results, ensuring compliance and accuracy in financial reporting[11]. - The Company has complied with the Corporate Governance Code, except for the dual role of Chairman and Chief Executive Officer held by Mr. Kwong Jimmy Cheung Tim[145]. - The Company does not have an internal audit function, but the Board reviewed the effectiveness of the internal control system and identified areas for improvement[149]. - The Group's business operations and governance are deemed sufficient to ensure a balance of power and functions, despite the dual role of the Chairman and CEO[146]. Employee and Director Remuneration - The Group had 59 employees as of September 30, 2020, with staff costs amounting to approximately HK$11,366,000 for the period, an increase from approximately HK$10,627,000 in the previous period[162]. - The remuneration for independent non-executive Directors was increased from HK$140,000 per annum to HK$150,000 per annum effective April 1, 2020[155]. - Mr. Lai Law Kau was appointed as an executive Director with an annual remuneration of HK$480,000, and Mr. Kwong Jimmy Cheung Tim's remuneration was changed to HK$600,000 per annum[152]. Future Outlook - The Group remains cautiously optimistic about the prospects of the property and securities market in Hong Kong despite global economic uncertainties[118]. - The Board will exercise utmost caution in identifying investment and divestment opportunities to positively impact the Group's operating and financial results in the foreseeable future[119].

Financial Performance - For the year ended March 31, 2020, the Group reported a loss attributable to owners of approximately HK$206,192,000, compared to a profit of approximately HK$50,510,000 in the previous year[10]. - The basic and diluted loss per share for the year was HK70.68 cents, compared to earnings per share of HK33.46 cents in 2019[18]. - The loss for the year was primarily due to changes in fair value of investment properties and write-downs on properties held for development[17]. - The Group recorded a loss attributable to shareholders of approximately HK$206,192,000 for the year ended March 31, 2020, compared to a profit of approximately HK$50,510,000 in 2019, primarily due to fair value losses on investment properties and impairment of properties held for sale[21]. - Loss before taxation for the year was approximately HK$209,657,000, a significant decrease from a profit of approximately HK$50,910,000 in 2019, with administrative expenses rising by approximately 8.7%[67]. Revenue and Profitability - Consolidated revenue increased by approximately 29.7%, amounting to approximately HK$80,682,000 compared to HK$62,228,000 in the previous year[18]. - The gross profit margin for the year was approximately 94.8%, slightly up from 94.7% in 2019[10]. - Total rental and management fee income recorded was approximately HK$61,142,000, a 43.4% increase from approximately HK$42,627,000 in 2019, driven by contributions from newly acquired properties[37]. - The Group's revenue for the year was approximately HK$80,682,000, representing an increase of approximately 29.7% from HK$62,228,000 in 2019[21]. - Gross profit for the year was approximately HK$76,455,000, representing an increase of approximately 29.7% or HK$17,498,000 compared to HK$58,957,000 in 2019, with a gross profit margin of 94.8%[66]. Property Acquisitions and Disposals - The Group successfully acquired 100% interest in Wing Cheong Factory Building and properties on Davis Street, while also disposing of office units and car parking spaces in Capital Centre[11]. - The Group completed the acquisition of 100% of Wing Cheong Factory Building, with a site area of approximately 5,483 sq. ft., and plans to redevelop it into an industrial building[26]. - The Group disposed of office units and car parks at Capital Centre for HK$361,600,000, resulting in a gain on disposal of approximately HK$57,511,000[42]. - The Group completed the acquisition of remaining units of Wing Cheong Factory Building for approximately HK$12,000,000[85]. - The Group acquired properties at Nos. 1B, 1C, 1D, and 1E of Davis Street, Kennedy Town, with a combined registered area of approximately 4,940 sq. ft., planning to redevelop into a residential/commercial project[107][110]. Rental Income - Property rental income in Hong Kong increased by approximately 71.2% to approximately HK$39,945,000 compared to HK$23,339,000 in 2019[41]. - The Group recorded property rental income of approximately HK$39,945,000 for the year ended March 31, 2020, representing an increase of about 71.2% compared to HK$23,339,000 in 2019[46]. - In Singapore, property rental income decreased by 3.6% to approximately HK$2,739,000 compared to HK$2,840,000 in 2019[44]. - In the PRC, property rental income decreased by approximately 11.7% to approximately HK$5,010,000, while management fee income increased by approximately 24.8% to approximately HK$13,448,000[45]. Financial Position - As of 31 March 2020, total assets amounted to approximately HK$4,602,993,000, an increase from approximately HK$4,034,545,000 in 2019[76]. - Total bank borrowings as of 31 March 2020 were approximately HK$1,431,740,000, compared to approximately HK$1,075,229,000 in 2019, resulting in a gearing ratio of approximately 0.5[77]. - The Group's current ratio improved to approximately 5.9 as of 31 March 2020, compared to approximately 4.8 in 2019[77]. - The outstanding principal amount of loans receivable as of March 31, 2020, was approximately HK$329,969,000, a slight decrease from approximately HK$336,010,000 in 2019[60]. Investment and Financing Activities - The company raised approximately HK$353,900,000 from the Rights Issue, with net proceeds allocated for various construction and acquisition costs[85]. - Approximately HK$79,000,000 was designated for the redevelopment construction cost of the lot on Matheson Street, Causeway Bay[85]. - The company has utilized approximately HK$80,000,000 for potential acquisitions of new properties and other investments[87]. - The Group will continue to maintain a diversified investment portfolio to minimize financial risks and monitor the performance of its investments closely[57]. Corporate Governance - The company has fully complied with the Corporate Governance Code provisions, except for disclosed deviations[148]. - The roles of chairman and chief executive are held by the same individual, which the company deems appropriate for efficiency in planning and execution of long-term strategies[156]. - The Board comprises five Directors, including two executive Directors and three independent non-executive Directors[163]. - The Audit Committee held two meetings during the year ended 31 March 2020, ensuring compliance with financial reporting standards[189]. - The Company provides regular updates on business performance to the Directors and ensures compliance with Listing Rules and statutory requirements[178]. Impact of COVID-19 - The Group has granted rent concessions to tenants due to the impact of COVID-19, which is expected to decrease rental income from investment properties in the upcoming financial year[127]. - The Group remains cautiously optimistic about the prospects of the property and securities markets in Hong Kong, despite uncertainties caused by the global economic outlook and COVID-19[129]. - The Group's financial effects from COVID-19 will be reflected in future financial statements as the situation evolves[127].