Financial Performance - The Group's unaudited consolidated loss attributable to shareholders for the six months ended 30 September 2019 was approximately HK$12,369,000, a decrease from HK$39,592,000 in the corresponding period of 2018, representing a reduction of approximately 68.8%[11]. - Basic and diluted loss per share for the Period was approximately 0.38 HK cents, compared to 1.33 HK cents for the 2018 Period, indicating a significant improvement[12]. - Total rental income increased by approximately 64.8% to approximately HK$23,899,000 during the Period, up from approximately HK$14,502,000 in the 2018 Period[19]. - The increase in rental income was primarily due to contributions from newly acquired properties and an increased occupancy rate[19]. - The Group recorded a fair value loss in securities investments of approximately HK$6,992,000 during the period, compared to a loss of approximately HK$25,483,000 in the previous period[57]. - Finance costs decreased by approximately HK$5,222,000 or approximately 26.9%, from approximately HK$19,420,000 in the 2018 period to approximately HK$14,198,000 in the current period[140][144]. Property and Investment Activities - Property rental income in Hong Kong was approximately HK$14,006,000 for the Period, a substantial increase from approximately HK$4,783,000 in the 2018 Period[20]. - The Group successfully disposed of office units and car parks at Capital Centre for HK$361,600,000, resulting in a gain on disposal of subsidiaries of approximately HK$57,511,000[27]. - The Group recorded property rental income and management fee income of approximately HK$8,501,000 and HK$5,993,000 respectively in the PRC for the period, compared to HK$8,297,000 and HK$5,681,000 in the previous period, reflecting an increase of 2.5% and 5.5% respectively[35]. - The Group's total carrying amount of properties in Huzhou City, Zhejiang Province, was approximately HK$351,125,000 as of September 30, 2019, down from approximately HK$374,130,000 as of March 31, 2019, indicating a decrease of about 6.1%[35]. - The Group's total carrying amount of properties in Singapore was approximately HK$154,941,000 as of September 30, 2019, down from approximately HK$159,831,000 as of March 31, 2019, indicating a decrease of about 3.7%[33]. - The Group's total net asset value for investment properties was approximately HK$459,141,000 as of September 30, 2019[106]. Future Plans and Developments - The Group owns approximately 90.83% of Fung Wah Factorial Building and plans to redevelop it into a high-rise composite commercial building to maximize site usage[49]. - The Group plans to redevelop the site at Kennedy Town into a commercial/residential/service apartment building with a registered site area of approximately 4,941 sq.ft[55]. - The Group's project at Matheson Street is expected to provide a gross floor area of approximately 42,759 sq.ft upon completion in Q4 2021[37]. - The Group plans to redevelop the combined site at Nos. 1B, 1C, 1D, and 1E of Davis Street, Kennedy Town, into a commercial/residential/service apartment building[121]. Share Capital and Financing - The total number of issued ordinary shares increased to 3,725,832,059 as of September 30, 2019, up from 2,965,832,059 shares as of March 31, 2019[129]. - The net proceeds from the issuance of the 3% per annum coupon rate convertible note amounted to approximately HK$69,500,000, intended for financing the acquisition of the remaining units of Wing Cheong Factory Building[81]. - The company issued HK$70,000,000 of convertible notes with a conversion price of HK$0.055, which was approved by independent shareholders on August 21, 2019, and completed on August 28, 2019[83]. - The Group's outstanding principal amount of loans receivable was approximately HK$292,122,000, a decrease from approximately HK$336,010,000 as of March 31, 2019[70]. - The Group's total assets as of September 30, 2019, amounted to approximately HK$3,948,543,000, down from approximately HK$4,034,545,000 as of March 31, 2019[73]. - The Group's gearing ratio was approximately 0.3 as of September 30, 2019, compared to approximately 0.4 as of March 31, 2019[74]. Corporate Governance and Shareholding Structure - The Company has complied with all code provisions of the Corporate Governance Code, except for the separation of the roles of Chairman and Chief Executive Officer[190]. - The Company believes that having a single individual serve as both Chairman and Chief Executive Officer enhances efficiency in planning and execution of long-term strategies[190]. - The total number of share options exercised by directors and other participants was 67,800,000, leaving a balance of 0 options as of the report date[182]. - The Company has a significant concentration of shareholding, with the top shareholders holding over 60% of the total issued shares[168]. - The shareholding structure indicates significant control by a few substantial shareholders, highlighting potential influence over corporate decisions[172]. - As of September 30, 2019, the total interests of the Directors and chief executives in shares and underlying shares amounted to approximately 2,322,657,964, representing about 62.34% of the total issued shares of the Company[156].

Financial Performance - For the year ended March 31, 2019, the Group's profit attributable to owners was approximately HK$50,510,000, a decrease from HK$53,539,000 in 2018[13]. - Basic and diluted earnings per share for the year were HK1.70 cents and HK1.67 cents, down from HK2.31 cents and HK2.15 cents in 2018[22]. - Profit before taxation decreased to approximately HK$50,910,000 from approximately HK$54,608,000 in the previous year, while administrative expenses rose by 35.9% to approximately HK$48,276,000[75]. - Profit attributable to shareholders for the year was approximately HK$50,510,000, down from approximately HK$53,539,000, resulting in a net profit margin of 81.2% compared to 107.9% last year[77]. - The Group recorded a profit attributable to shareholders of approximately HK$50,510,000 for the year ended March 31, 2019, a decrease from HK$53,539,000 in 2018, primarily due to increased losses from fair value changes of financial assets and higher administrative expenses[28]. Revenue and Income - Consolidated revenue increased by approximately 25.4%, amounting to HK$62,228,000, up from HK$49,605,000 in the previous year[22]. - Total revenue for the year was approximately HK$62,228,000, representing an increase of 25.4% compared to HK$49,605,000 in 2018[28]. - Total rental income increased by 29.1% to approximately HK$42,627,000 in 2019, up from approximately HK$33,012,000 in 2018[40]. - The Group's property rental income in Hong Kong rose by approximately 41.3% to about HK$23,339,000 for the year ended March 31, 2019, compared to HK$16,516,000 in 2018[44]. - Interest income from the loan financing business was approximately HK$19,601,000, accounting for about 31.50% of the total revenue of the Group for the year ended March 31, 2019[64]. Property Development and Acquisitions - The Group successfully initiated major projects, including the redevelopment of Matheson Building and the acquisition of Easy Tower[14]. - The acquisition of Easy Tower, an industrial building with a total gross floor area of approximately 74,458 sq ft, enhances the Group's focus on industrial and non-residential real estate activities[48]. - The Group plans to develop the Wing Cheong Factory Building site into an industrial mixed-use building with car parking spaces[32]. - The acquisition of Yong Yi Plaza, with a total construction area of approximately 74,458 square feet, enhances the Group's focus on industrial and non-residential real estate activities, increasing competitiveness in this sector[52]. - The Group acquired Easy Tower for HK$470,000,000, enhancing its focus on industrial and non-residential real estate activities[87]. Financial Position - As of March 31, 2019, total assets amounted to approximately HK$4,034,545,000, with total bank balances and cash of approximately HK$141,582,000[79]. - The Group's total bank borrowings were approximately HK$1,075,229,000, with a gearing ratio of approximately 0.4 and a current ratio of approximately 4.8[80]. - The Group's total carrying amount of properties in Hong Kong was approximately HK$1,129,400,000 as of March 31, 2019, a slight decrease from HK$1,156,000,000 in 2018[44]. - The outstanding principal amount of loans receivable as of March 31, 2019, was approximately HK$336,010,000, up from approximately HK$265,297,000 in 2018[64]. - The Group received net proceeds of approximately HK$586.14 million from the acquisition and disposal transactions, strengthening its financial position[96]. Corporate Governance - The Board emphasizes the importance of corporate governance, adhering to the principles of transparency, accountability, and independence[137]. - The Company has fully complied with the Corporate Governance Code provisions during the year, except for a noted deviation regarding the roles of Chairman and Chief Executive Officer[139]. - The dual leadership role of Chairman and Chief Executive Officer has been maintained for efficiency in planning and executing long-term strategies[141]. - The Group is committed to developing and reviewing its corporate governance policies and practices to ensure compliance with legal and regulatory requirements[138]. - The Company will review its governance structure as appropriate to ensure a balance of power and authority within the Board[141]. Employee and Operational Insights - Employee costs for the year were approximately HK$21.22 million, reflecting an increase from HK$17.07 million in the previous year[115]. - The Company has a total of 55 employees as of March 31, 2019, compared to 46 employees in 2018, indicating a growth in workforce[118]. - All Directors receive monthly management information updates to facilitate their duties under the relevant requirements of the Listing Rules[161]. - The primary objective of the Company's remuneration policy is to attract, retain, and motivate personnel by providing fair rewards for their contributions[191]. - The remuneration packages are determined with reference to individual responsibilities, Company performance, and prevailing market conditions[191].