Financial Performance - For the year ended March 31, 2024, the Group's revenue from continuing operations was approximately HK$30,693,000, representing an increase of approximately HK$3,499,000 or approximately 12.9% compared to HK$27,194,000 in the previous year[11]. - The consolidated loss attributable to owners of the Company for the year was approximately HK$213,149,000, compared to a profit of approximately HK$63,572,000 in the previous year[11]. - The gross profit margin for the year was approximately 88.5%, slightly down from approximately 89.1% in the previous year[11]. - The loss from continuing operations for the year was approximately HK$218,804,000, compared to a profit of approximately HK$58,970,000 in the previous year[11]. - Basic and diluted loss per share from continuing and discontinued operations was HK$2.47, compared to restated earnings per share of HK$1.50 and HK$1.37 in the previous year[11]. Assets and Liabilities - Total assets as of March 31, 2024, were approximately HK$5,408,807,000, down from HK$5,624,267,000 in the previous year[17]. - Total liabilities as of March 31, 2024, were approximately HK$2,361,611,000, slightly down from HK$2,389,101,000 in the previous year[17]. - Equity attributable to owners of the Company was approximately HK$3,047,196,000, down from HK$3,235,166,000 in the previous year[17]. Rental Income - Rental income from continuing operations totaled approximately HK$28,751,000, representing an increase of about 17.8% from approximately HK$24,408,000 in 2023[46]. - The company recorded property rental income of approximately HK$27,423,000, an increase of about 26.3% compared to HK$21,706,000 in 2023[46]. - In Singapore, property rental income decreased by approximately 50.9% to HK$1,328,000 from HK$2,702,000 in 2023, attributed to the disposal of one residential unit in July 2023[66]. Projects and Developments - The company completed the construction of the "THE HEDON" project in Causeway Bay, Hong Kong, with a gross floor area of approximately 42,854 square feet, obtaining the occupation permit in February 2024[39]. - The company also completed the "One Two One" project in Kowloon, Hong Kong, with a total gross floor area of approximately 7,326 square meters, obtaining the occupation permit in May 2024[39]. Investment and Financing - The Group's investment in equity securities listed in Hong Kong and the United States amounted to approximately HK$47,124,000, up from approximately HK$23,914,000 in the previous year[53]. - The Group received dividend income from listed securities investments of approximately HK$1,373,000, down from approximately HK$2,598,000 in the previous year[53]. - The Compensation Amount received from the Huzhou Government was RMB 386,982,000 (approximately HK$439,752,000), which will be used for general working capital and repayment of bank loans[51]. Corporate Governance and Compliance - The Company has fully complied with all applicable code provisions of the Corporate Governance Code during the year, ensuring diligence, accountability, and professionalism[166]. - The Board is committed to high standards of corporate governance, integrating social and environmental concerns into business operations[166]. - The Group is committed to enhancing long-term values and interests for shareholders and stakeholders, focusing on sustainable growth in both financial and ESG performance[182]. Risk Management - The Group's financial condition and operations are subject to risks including volatility in financial markets, commodity price fluctuations, and high inflationary pressures[160]. - The Group has made provisions for potential impairment losses due to increased default risk amid economic uncertainties[138]. - The Group's credit risk management includes stringent loan review procedures and ongoing monitoring of credit risks[137]. Employee and Operational Insights - As of March 31, 2024, the Group had 40 employees, with staff costs amounting to approximately HK$40,218,000, an increase of 34.2% from HK$29,929,000 in 2023[32]. - The Group remains cautiously optimistic about the prospects of the property and securities markets in Hong Kong, despite global economic uncertainties[32].

Financial Performance - For the year ended 31 March 2024, the Group reported a consolidated loss attributable to shareholders of approximately HK$213,149,000, compared to a profit of approximately HK$63,572,000 in the previous year[3]. - Revenue from continuing operations increased to approximately HK$30,693,000, representing a growth of approximately 12.9% compared to HK$27,194,000 in the previous year[10]. - The Group's gross profit margin for the year was approximately 88.5%, slightly down from approximately 89.1% in the previous year[10]. - The basic and diluted loss per share for the year was HK$2.47, compared to restated earnings per share of HK$1.50 and HK$1.37 in the previous year[11]. - The consolidated loss from continuing operations for the year ended March 31, 2024, was approximately HK$218,804,000, compared to a profit of approximately HK$58,970,000 in 2023[60]. - Gross profit from continuing operations for the year ended March 31, 2024, was approximately HK$27,173,000, representing an increase of approximately 12.2% compared to approximately HK$24,225,000 in 2023[69]. - The taxation charge from continuing operations for the year was approximately HK$13,485,000, compared to a taxation credit of approximately HK$1,649,000 in 2023[75]. - The basic and diluted loss per share from continuing operations for the year was approximately HK$2.54, compared to a restated profit of approximately HK$1.39 per share in 2023[77]. Revenue and Income - Total rental income from continuing operations was approximately HK$28,751,000, an increase of approximately 17.8% from HK$24,408,000 in the previous year[26]. - The Group's property rental income and building management fee income from continuing operations amounted to approximately HK$27,423,000, reflecting a 26.3% increase compared to HK$21,706,000 in the previous year[27]. - Property rental income from continuing operations for the year was approximately HK$27,423,000, an increase of approximately 26.3% from approximately HK$21,706,000 in 2023[30]. - As of March 31, 2024, the Group's revenue from continuing operations increased by approximately 12.9% to approximately HK$30,693,000 compared to approximately HK$27,194,000 in 2023, primarily due to an increase in rental income[68]. Assets and Liabilities - As of March 31, 2024, the Group's total assets amounted to approximately HK$5,408,807,000, a decrease from approximately HK$5,624,267,000 in 2023[88]. - As of March 31, 2024, the Group's bank borrowings amounted to approximately HK$2,066,734,000, an increase from approximately HK$1,871,919,000 in 2023[49]. - The Group's total bank borrowings as of March 31, 2024, were approximately HK$2,066,734,000, compared to approximately HK$1,871,919,000 in 2023, resulting in a gearing ratio of approximately 0.7[89]. - The Group had capital commitments of approximately HK$4,418,000 as of March 31, 2024, down from approximately HK$19,635,000 in 2023[55]. - The Group's bank balances and cash as of March 31, 2024, were approximately HK$299,717,000, down from approximately HK$354,002,000 in 2023[88]. Dividends - The Group does not recommend the payment of a final dividend for the year ended 31 March 2024[5]. - The Group did not declare a final dividend for the year ended March 31, 2024, compared to no dividend declared in 2023[42]. Employee Information - The Group has 40 employees as of March 31, 2024, an increase from 38 employees in 2023, with total employee costs amounting to approximately HKD 40,218,000 for the year, compared to HKD 29,929,000 in 2023[192]. - The Group's employee benefits include medical and dental plans, and contributions to mandatory provident fund schemes for eligible employees[192]. Corporate Governance and Compliance - The Group has complied with relevant laws and regulations during the year ended March 31, 2024, with no material breaches reported[169]. - The Group is committed to maintaining compliance with relevant laws and regulations, reporting no significant violations as of March 31, 2024[180]. - The Group's corporate governance practices adhere to the Corporate Governance Code, ensuring accountability and professionalism in its operations[196]. Future Outlook and Strategy - The Group remains prudently optimistic about the prospects of the property and securities markets in Hong Kong, despite ongoing geopolitical tensions and high inflationary pressures[190]. - The Group will continue to focus on its core businesses, including property development and investment, while exploring new opportunities to provide stable returns to shareholders[189]. - The Group's future outlook remains focused on long-term value creation for shareholders and stakeholders amidst macroeconomic uncertainties[191]. - The Group plans to identify and seize appropriate investment opportunities to replenish its property portfolio during challenging market conditions[195]. Financing Activities - The Group financed its operations primarily through recurring cash flow, capital market proceeds, and bank financing[90]. - The net proceeds from the 2023 Placing amounted to approximately HK$24,750,000, which were fully utilized for repayment of the group's bank loan[121]. - The net proceeds from the 2024 Placing amounted to approximately HK$41,700,000, with approximately HK$35,000,000 used for bank loan repayment and approximately HK$6,700,000 for general working capital[123]. - A conditional revolving loan agreement was entered into for a principal amount of up to HK$80,000,000 for financing property development projects and general corporate use[149]. - The Revolving Loan Agreement constitutes a major transaction under Rule 14.06(3) of the Listing Rules and is subject to independent Shareholders' approval[150]. Environmental and Social Responsibility - The Group emphasizes its commitment to corporate social responsibility and environmental sustainability, aiming to minimize its carbon footprint and enhance resource efficiency[184]. - The Group acknowledges risks from climate change, including physical risks and their potential negative impacts on the environment and business operations[174]. - The Group acknowledges the risks posed by climate change, including extreme weather events and rising sea levels, which may impact its operations and supply chain[187].

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]