Financial Performance - The company's revenue for the year ended October 31, 2023, was HKD 5,327,931 thousand, an increase from HKD 4,541,018 thousand in the previous year, representing a growth of approximately 17.3%[41]. - Gross profit for the same period was HKD 1,590,594 thousand, compared to HKD 1,359,069 thousand in the prior year, indicating a year-over-year increase of about 17%[41]. - The core operating profit rose to HKD 359,951 thousand, up from HKD 208,894 thousand, reflecting a significant increase of approximately 72.5%[41]. - The net profit attributable to shareholders for the year was HKD 228,083 thousand, compared to HKD 162,642 thousand in the previous year, marking an increase of around 40.3%[41]. - Basic earnings per share increased to 18.41 cents from 13.13 cents, representing a growth of approximately 40.3%[41]. - Total comprehensive income for the year was HKD 268,288 thousand, compared to a loss of HKD 41,196 thousand in the previous year[36]. - The company reported a significant increase in profit before tax to HKD 301,132 thousand, compared to HKD 183,345 thousand in the previous year, representing a growth of approximately 64.3%[41]. - The total profit for the reportable segments in 2023 was HKD 376,342, up 61.5% from HKD 232,663 in 2022[56]. - The company reported a pre-tax profit of HKD 288,760 for 2023, compared to HKD 180,890 in 2022, marking a growth of 59.7%[63]. Revenue Breakdown - Revenue from external customers in the exhibition and project activation segment was HKD 4,413,088,000, accounting for 82.8% of total revenue[54]. - Revenue from exhibitions, projects, and brand activations amounted to HKD 4.413 billion, up from HKD 3.690 billion in the previous year, reflecting a growth of 19.6%[73]. - Revenue from visual brand activations was HKD 383.4 million, slightly up from HKD 363.9 million, indicating a growth of 5.4%[73]. - Revenue from museum and theme entertainment was HKD 396.9 million, a marginal increase from HKD 394.5 million, showing a growth of 0.6%[73]. - The revenue from the exhibition segment was HKD 3.83 billion, representing 7.2% of total group revenue, with a profit of HKD 32 million[145]. Investments and Expenditures - Capital expenditures related to properties, plants, and equipment amounted to HKD 13,450,000, an increase of 61.1% from HKD 8,347,000 in 2022[15]. - The group invested HKD 20 million in property, plant, and equipment, compared to HKD 14 million in 2022[26]. - The group invested HKD 34 million in intangible assets, down from HKD 74 million in 2022[26]. Corporate Governance and Financial Discipline - The company has maintained a high level of corporate governance, adhering to the Hong Kong Stock Exchange's corporate governance code[8]. - The group has implemented robust financial discipline to ensure long-term profitability, resulting in improved debt ratios due to significant reductions in long-term and short-term bank borrowings[133]. Market Outlook and Strategy - The company is optimistic about growth in the Greater China and Southeast Asia regions, with a focus on expanding operations in Saudi Arabia to capture emerging opportunities[17]. - The company anticipates a slow overall growth in the global economy for 2024, as per the International Monetary Fund's outlook[17]. - The company has a cautious yet optimistic outlook for its operations, particularly in international markets, as consumer behavior shifts post-pandemic[17]. - The group plans to leverage opportunities from Saudi Arabia's Vision 2030, with ongoing projects including NEOM and the largest light art festival, Noor Riyadh[103]. Operational Efficiency and Technology Integration - The integration of AI, data, and Web3 technologies is expected to enhance operational efficiency and broaden service offerings, aligning with evolving market expectations[3]. - The group is advancing the AI-supported PowerONE integrated IT system to enhance operational efficiency and become a fully data-driven enterprise[105]. - The group has developed a proprietary data management system to assist clients in making informed decisions and optimizing business operations[164]. Dividends and Shareholder Returns - The company declared a final dividend of HKD 0.07 per share for the year, subject to shareholder approval[65]. - The board proposed a final dividend of HKD 0.07 per share, totaling HKD 0.09 for the year, which represents 48.9% of the earnings per share of HKD 0.1841[128]. Foreign Exchange and Risk Management - The group has no hedging policy in place to mitigate foreign exchange risks[29]. Employee and Operational Metrics - Employee costs for the year amounted to approximately HKD 1.175 billion, up from HKD 987 million in 2022[30]. - The company has established 47 permanent offices across 36 cities, employing approximately 2,300 long-term staff as of October 31, 2023[102]. Project Highlights - The group is involved in significant projects including the Hong Kong History Museum and the Hong Kong Wetland Park, expected to be completed in 2024 and 2025 respectively[22]. - The group has been appointed as a designated supplier for GAC Aion's 200 stores plan in Southeast Asia for 2024[19]. - The group activated 14 brands at the Guangzhou International Auto Show and 25 brands at the Chengdu International Auto Show, highlighting significant engagement in major automotive exhibitions[138].

Financial Performance - Total revenue for the six months ended April 30, 2023, was HKD 2,493,180, an increase from HKD 2,344,692 in the same period of 2022, representing a growth of approximately 6.36%[4] - The total profit for reportable segments was HKD 167,756, compared to HKD 95,316 in the previous year, indicating a significant increase of approximately 76%[1] - The company reported a consolidated profit before tax of HKD 136,188, compared to HKD 81,539 in the previous year, an increase of approximately 67%[1] - Basic and diluted earnings per share for the six months ended April 30, 2023, were HKD 101,111,000, compared to HKD 68,905,000 for the same period in 2022, representing a growth of approximately 46.7%[21] - Core operating profit rose to HKD 174 million, a significant increase of 114.8% from HKD 81 million in the previous year[42] - Net profit for the period was HKD 102,385, compared to HKD 67,154 in 2022, marking a 52.4% increase[151] Revenue Breakdown - Revenue from the Greater China region was HKD 1,268,773, up from HKD 1,184,976, reflecting a growth of about 7.07%[4] - Revenue from Malaysia, Singapore, the Philippines, and Vietnam increased to HKD 440,039 from HKD 330,820, marking a growth of approximately 33%[4] - Revenue from exhibitions, projects, and brand activations increased by 12.3% to HKD 2.149 billion, up from HKD 1.914 billion in the previous year[46] - Revenue from visual brand activation decreased by 17.1% to HKD 160 million, down from HKD 193 million in the previous year[47] - Revenue from museums and theme entertainment decreased by 27.6% to HKD 152 million (2022: HKD 210 million)[48] - Revenue from event planning and activation increased by 14.3% to HKD 32 million (2022: HKD 28 million)[49] Expenses and Costs - Interest expenses on bank borrowings rose to HKD 17,466 from HKD 5,577, representing an increase of approximately 213%[15] - The total tax expense for the period was HKD 33,803, compared to HKD 14,385 in the previous year, indicating an increase of approximately 135%[15] - The company incurred a cost of goods sold of HKD 104,710, down from HKD 126,845, reflecting a decrease of approximately 17.4%[17] - Employee costs for the period amounted to HKD 454 million, compared to HKD 433 million for the six months ended April 30, 2022[79] Cash Flow and Assets - Cash and bank balances amounted to HKD 1.469 billion as of April 30, 2023, up from HKD 1.403 billion on October 31, 2022[75] - The net cash balance, after deducting external interest-bearing borrowings, was HKD 773 million, an increase from HKD 601 million on October 31, 2022[74] - Total borrowings decreased to HKD 696 million as of April 30, 2023, down from HKD 804 million on October 31, 2022[74] - The total net tangible assets attributable to shareholders increased by 9.0% to approximately HKD 1.76 billion as of April 30, 2023, compared to HKD 1.615 billion on October 31, 2022[74] Shareholder Information - The company declared an interim dividend of HKD 0.02 per share for the six months ended April 30, 2023, compared to no dividend in the same period last year[20] - The number of issued and fully paid shares increased from 1,238,258,104 on October 31, 2022, to 1,238,488,104 on April 30, 2023, due to the exercise of share options[29] - The major shareholders as of April 30, 2023, include Pine Asset Management Limited with 37.32% of the issued share capital and FMR LLC with 10.00%[115] Strategic Initiatives - The company is focused on leveraging differentiated data and AI strategies to enhance operational efficiency and drive business resilience[45] - The company is focusing on the electric vehicle sector and digital showrooms, securing significant projects with clients like Kia and high-end electric vehicle brand "Hao Bo"[66] - The company aims to expand its business into automation through the Fanuc project and is actively seeking opportunities in emerging industries such as agriculture and aviation[83] - The company is committed to building a data-driven enterprise model to enhance operational efficiency and profitability through the use of data and AI technologies[89] Market Position and Outlook - The company maintained a strong market position and benefited from the gradual recovery in Southeast Asia following the lifting of COVID-19 restrictions[44] - The group expects a strong recovery in project delivery in the second half of the fiscal year following the reopening of China in March[61] - The company is actively managing its operations and growth strategies to navigate potential economic pressures in China and the US[85]

Financial Performance - The company reported a profit of HKD 102,385,000 for the period, compared to HKD 67,154,000 in the previous year, representing a significant increase[1]. - Total comprehensive income for the period was HKD 221,466,000, up from HKD 36,041,000 year-over-year[2]. - The company reported segment profit of HKD 167,756,000, compared to HKD 95,316,000 in the previous year, indicating a substantial increase of approximately 76%[23]. - The profit before tax for the period was HKD 136.188 million, up from HKD 81.539 million year-on-year[26]. - Profit attributable to shareholders rose by 46.4% to HKD 101 million from HKD 69 million year-on-year[54]. - Net profit attributable to shareholders for the period was HKD 102,385, up from HKD 67,154, which is an increase of approximately 52.4%[142]. - Other comprehensive income for the period was HKD 119,081, compared to HKD 31,113 in the previous year, indicating a substantial increase of approximately 282.5%[143]. Revenue Growth - Total revenue from reportable segments reached HKD 2,619,888,000, an increase from HKD 2,443,468,000, reflecting a growth of approximately 7.2%[11]. - Total revenue for the six months ended April 30, 2023, was HKD 2.493 billion, an increase of 6.3% compared to HKD 2.345 billion in the same period last year[38]. - Revenue from exhibitions, projects, and brand activations increased by 12.3% to HKD 2.149 billion, compared to HKD 1.914 billion in the previous year[43]. - Revenue from conference planning activation increased by 14.3% to HKD 32 million, up from HKD 28 million in the previous year[78]. - Revenue for the six months ended April 30, 2023, was HKD 2,493,180, an increase from HKD 2,344,692 in the same period of 2022, representing a growth of approximately 6.4%[142]. Asset and Equity Growth - The company’s net assets amounted to HKD 2,326,660,000, compared to HKD 2,186,180,000 in the previous year, indicating a growth of about 6.4%[18]. - The company’s equity attributable to shareholders was HKD 2,251,444,000, up from HKD 2,105,432,000, reflecting an increase of approximately 6.9%[18]. - The total net asset value attributable to shareholders increased by 9.0% to approximately HKD 1.76 billion from HKD 1.62 billion[113]. Cost and Expenses - Interest expenses on bank borrowings increased to HKD 17,466,000 from HKD 5,577,000, showing a rise of approximately 213%[14]. - Employee costs for the period amounted to HKD 454,000,000, up from HKD 433,000,000 in the previous six months[117]. - The company reported a financing cost of HKD (20,580), which increased from HKD (8,681) in the previous year, reflecting a rise in financing expenses[142]. Dividends - The interim dividend declared was HKD 0.02 per share, compared to no interim dividend in the same period last year[33]. - The company proposed an interim dividend of HKD 0.02 per share, compared to no dividend in the same period last year[56]. Operational Efficiency and Strategy - The group aims to enhance operational efficiency through data-driven strategies and technology innovation[42]. - The group aims to enhance its data-driven business model, leveraging data, AI, and related technologies to improve profitability and operational efficiency[125]. - The company plans to continue expanding its market presence and investing in new product development to drive future growth[150]. Market and Project Development - The group is collaborating with K11 Group on the 11 SKIES project, which will feature over 800 stores and a total floor area of more than 353,000 square meters[70]. - The company is actively seeking opportunities in emerging industries, including projects in agriculture and aviation with Bombardier and Guangdong Haida Group[105]. - The group is involved in various museum and theme entertainment projects, including the Hong Kong Palace Museum and the Saudi National Museum[71]. - The group has delivered numerous physical projects, including the opening ceremony of the 25th Arabian Gulf Cup in Basra, Iraq[84]. - The group is set to deliver major projects across various regions, including the Asia Vaccine Conference and the FUTR Europe Summit[125]. Financial Position - The company’s total assets less current liabilities stood at HKD 2,850,113,000, compared to HKD 2,756,778,000, marking an increase of around 3.4%[3]. - The current ratio improved slightly to 1.50 times from 1.49 times year-on-year[76]. - The debt ratio decreased to 8.30% from 9.56% in the previous year[76]. - The total borrowings decreased to HKD 696 million from HKD 804 million, a reduction of 13.4%[95]. - The total liabilities secured by assets as of April 30, 2023, were HKD 111,865,000, a decrease from HKD 210,063,000 as of October 31, 2022[119]. Digital Transformation - The company continues to integrate digital interactive elements such as the metaverse and augmented reality into projects and brand activations[62]. - The VX Events platform has facilitated multiple events transitioning to virtual or hybrid formats, addressing the growing demand for digital solutions[92].

Financial Performance - Total revenue for the year reached HKD 45.41 billion, an increase of 12.1% compared to HKD 40.52 billion in the previous year[9] - Core operating profit rose to HKD 2.089 billion, reflecting a growth of 26.1% from HKD 1.657 billion in the prior year[17] - Net profit attributable to shareholders increased by 18.8% to HKD 1.626 billion, up from HKD 1.369 billion in the previous year[17] - EBITDA grew by 14.5% to HKD 2.986 billion, compared to HKD 2.608 billion in the previous year[17] - Basic earnings per share increased by 18.7% to HKD 0.1313, up from HKD 0.1106 in the previous year[17] - The company proposed a final dividend of HKD 0.060 per share, representing a 20.0% increase from HKD 0.050 per share in the previous year[17] - The return on equity for shareholders improved to 7.6%, up from 6.6% in the previous year[17] Revenue Breakdown - Total revenue from Greater China reached HKD 45.41 billion, accounting for 45.3% of the group's total revenue, down from 53.6% in the previous year[29] - Revenue from the Southeast Asia region increased to 20.9% of total revenue, up from 12.8% in the previous year[32] - The exhibition, project, and brand activation segment generated revenue of HKD 36.89 billion, representing 81.3% of total revenue, with a profit of HKD 1.819 billion[34] Operational Highlights - The company activated over 3,000 projects globally, with operations spanning 35 cities[18] - The group operates 46 permanent offices in 35 cities and employs approximately 2,200 long-term staff[22] - The group has received 45 international awards, showcasing its industry recognition and performance[18] Strategic Initiatives - The group has partnered with Founders Factory to launch a new venture incubation initiative focusing on Web3 and marketing technology startups[31] - The group has enhanced its capital structure to maintain sufficient resilience against financial challenges posed by the pandemic[31] - The group has seen a recovery in the MICE industry, particularly in Southeast Asia and the US, which has helped mitigate the negative impact from the Chinese market[24] - The group has implemented a data-driven approach using AI for decision-making and operational efficiency[27] Digital and Technological Developments - The company launched the HTML5 metaverse platform YAOLAND in collaboration with 263 Network Communications and China Unicom's subsidiary, aiming to create a complete digital consumption model[41] - Existing users of YAOLAND include major brands such as China Mobile, Honeywell, and the British National Gallery, indicating strong market interest[42] - The company partnered with State Farm to leverage gamification and social media to attract millennials and Gen Z audiences, integrating augmented reality technology[44] - The company is actively exploring the potential of NFTs and gamification to enhance user engagement and marketing effectiveness[44] - The company is focused on capturing the vast potential of the metaverse ecosystem in the Chinese market[41] Financial Reporting and Compliance - The company is committed to ensuring accurate financial reporting and compliance with accounting standards regarding lease liabilities and contract assets[48][50] - The company capitalizes contract costs related to existing or specifically identifiable anticipated contracts, which may include direct labor, materials, and other costs directly attributable to the contract[51] - Financial assets and liabilities are recognized at fair value upon becoming a party to the relevant contract, with transaction costs included in the initial measurement[53] - The company has adopted a stock option plan as a reward for directors and eligible employees, with details provided in the financial statements[89] Shareholder Information - Pine Asset Management Limited holds a significant stake of 462,167,186 shares, representing 37.32% of the total issued share capital[108] - FMR LLC controls 123,789,010 shares, accounting for 10.00% of the total issued share capital[108] - Brandes Investment Partners, L.P. has an investment of 99,023,157 shares, which is 8.00% of the total issued share capital[108] - Northern Trust Corporation holds 85,386,000 shares, representing 6.90% of the total issued share capital[108] Environmental and Regulatory Compliance - The company is committed to promoting environmentally sustainable practices and complying with applicable environmental laws[110] - The company has complied with all relevant laws and regulations affecting its business and operations during the year[109] - There were no significant violations of applicable laws and regulations during the year[109] Cash Flow and Investment Activities - Operating cash flow generated was HKD 191,585,000, a decrease of 31.9% from HKD 281,092,000 in the previous year[168] - Net cash generated from operating activities was HKD 148,220,000, down from HKD 239,500,000, reflecting a decline of 38.1%[168] - Cash used in investment activities totaled HKD 128,984,000, compared to HKD 96,211,000 in the previous year, indicating an increase of 33.9%[168] - The company incurred HKD 74,271,000 for the purchase of other intangible assets, which is a 60.3% increase from HKD 46,351,000 in the previous year[168] Audit and Internal Controls - The independent auditor's report confirms that the consolidated financial statements fairly reflect the group's financial position as of October 31, 2022[124] - The group’s internal controls were evaluated to design appropriate audit procedures, although no opinion on their effectiveness was expressed[135] - The group communicated with the audit committee regarding significant audit findings and any material weaknesses identified in internal controls[155]

Financial Performance - Revenue for the six months ended April 30, 2022, increased to HKD 2,344,692 thousand, representing a 25% growth compared to HKD 1,875,768 thousand in the same period of 2021[2] - Gross profit for the same period was HKD 641,151 thousand, up from HKD 536,347 thousand, indicating a gross margin improvement[2] - Core operating profit decreased to HKD 80,731 thousand from HKD 92,087 thousand, reflecting a decline of approximately 12.5%[2] - Profit attributable to shareholders for the period was HKD 68,905 thousand, compared to HKD 57,523 thousand in 2021, marking a 19.5% increase[2] - Basic earnings per share rose to 5.56 cents from 4.65 cents, an increase of 19.6%[2] - The company reported a total comprehensive income of HKD 36,041 thousand for the period, down from HKD 136,515 thousand in the previous year[4] - The segment profit for the six months ended April 30, 2022, was HKD 95,316, compared to HKD 98,547 for the same period in 2021, indicating a slight decrease of about 2.3%[25] - The company reported a profit before tax of HKD 81,539 for the six months ended April 30, 2022, compared to HKD 51,278 in 2021, reflecting an increase of approximately 59%[25] Assets and Liabilities - Total assets decreased to HKD 3,333,906 thousand from HKD 3,595,516 thousand, a reduction of approximately 7.3%[5] - Non-current liabilities decreased to HKD 502,356 thousand from HKD 600,538 thousand, indicating a reduction of about 16.3%[8] - Total equity amounted to HKD 2,319,468,000, reflecting a decrease of 12,973,000 compared to the previous period[9] - Retained earnings stood at HKD 1,605,575,000, showing a decrease of 61,913,000 from the previous period[9] - Trade receivables amounted to approximately HKD 876,810,000 as of April 30, 2022, up from HKD 748,805,000 as of October 31, 2021[41] - Trade payables were approximately HKD 394,490,000 as of April 30, 2022, compared to HKD 335,937,000 as of October 31, 2021[42] Cash Flow - Cash and cash equivalents decreased to HKD 1,305,796 thousand from HKD 1,479,571 thousand, a decline of approximately 11.7%[5] - Net cash used in operating activities was HKD (14,305,000), compared to HKD (101,930,000) in the previous year[12] - Net cash used in investing activities was HKD (94,099,000), significantly higher than HKD (2,477,000) in the prior year[12] - Net cash used in financing activities was HKD (81,819,000), compared to HKD (29,479,000) in the previous year[12] - Cash and cash equivalents at the end of the period were HKD 1,255,955,000, an increase from HKD 1,184,559,000 year-over-year[13] - The company reported a cash and bank balance of HKD 1.31 billion as of April 30, 2022, down from HKD 1.48 billion on October 31, 2021[63] - The net cash balance after deducting external interest-bearing borrowings was HKD 581 million, a decrease from HKD 754 million year-on-year[65] Market and Growth Strategy - The company has plans for market expansion and new product development to drive future growth[2] - The company expects to hold more than double the number of exhibitions and projects in the second half of the fiscal year compared to the first half[69] - The company is exploring opportunities in the new energy vehicle sector, having secured contracts with brands such as Ford, GAC Toyota, and Mercedes-Benz[71] - The company continues to collaborate with clients to deliver projects for postponed exhibitions, indicating a strong pipeline of future work[55] - The group is leveraging opportunities arising from the growth of the digital economy and new energy vehicles in China, winning several new clients[59] Dividends and Share Options - The company declared a final dividend of HKD 0.05 per share for the year ended October 31, 2021, totaling HKD 61,913,000, compared to HKD 30,954,000 for the previous year[34] - No interim dividend was recommended for the six months ended April 30, 2022, compared to no interim dividend in the previous year[35] - The new share option plan approved on March 25, 2022, allows for the issuance of up to 123,825,810 shares, representing approximately 10% of the company's issued share capital[77] - The total expense recognized for stock options granted by the company for the six months ended April 30, 2022, is HKD 178,000, compared to HKD 459,000 for the same period in 2021[85] Operational Highlights - The number of exhibitions activated globally decreased by 18% compared to the same period last year, but Southeast Asia saw a nearly 70% growth, offsetting some negative impacts in the Chinese market[53] - The revenue from exhibitions, projects, and brand activations increased by 33.8% to HKD 1.914 billion from HKD 1.431 billion in the previous year[53] - The group recorded a decrease in visual brand activation revenue by 3.5% to HKD 193 million from HKD 200 million in the previous year[53] - The group reported a decrease in museum and theme entertainment revenue by 7.9% to HKD 210 million from HKD 228 million in the previous year[53] - The group activated multiple brands at major exhibitions, including the Thailand Huawei Cloud and Connectivity Summit and the Asia Defense Exhibition in Kuala Lumpur[54] Governance and Compliance - The company has adhered to the corporate governance code as per the listing rules, with a noted deviation regarding the separation of the roles of Chairman and CEO, which are held by the same individual[89] - The company confirms that all directors complied with the standards set forth in the code of conduct for securities trading during the period ending April 30, 2022[90] - The audit committee has reviewed the accounting principles and practices adopted by the group, discussing internal controls and financial reporting matters, including the review of the unaudited interim financial statements[91]

Financial Performance - Total revenue for the year reached HKD 4.052 billion, an increase of 17.9% compared to HKD 3.438 billion in the previous year[6]. - Profit attributable to shareholders rose by 171.1% to HKD 136.9 million, up from HKD 50.5 million in the previous year[6]. - Core operating profit increased by 44.0% to HKD 165.7 million, compared to HKD 115.1 million in the previous year[6]. - EBITDA grew by 45.5% to HKD 260.8 million, up from HKD 179.3 million in the previous year[8]. - Basic earnings per share were HKD 0.1106, compared to HKD 0.0408 in the previous year, reflecting a significant increase[6]. - The company reported a total comprehensive income of HKD 254,563, up from HKD 99,844 in 2020, reflecting strong overall performance[172]. - The company recognized a significant increase in other income, amounting to HKD 166,589, compared to HKD 163,152 in the previous year[171]. - Financing costs decreased to HKD 18,228 from HKD 24,554, indicating improved financial management[171]. Revenue Segmentation - The total revenue for the Greater China region reached HKD 40.52 billion, accounting for 53.6% of the group's total revenue, an increase from 46.6% in the previous year[11]. - The revenue from the exhibition, project, and brand activation segment was HKD 31.18 billion, representing 76.9% of the total revenue, up from 71.0% the previous year[12]. - The visual brand activation segment generated HKD 404 million in revenue, up from HKD 325 million in 2020, accounting for 10.0% of total group revenue compared to 9.4% in 2020[28]. - The museum and theme entertainment segment generated revenue of HKD 492 million, down from HKD 627 million, accounting for 12.2% of total group revenue[33][34]. - The conference planning activation segment reported revenue of HKD 38 million, down from HKD 43 million[40][41]. Operational Highlights - The company operates 47 permanent offices across 34 cities, employing approximately 2,000 long-term staff[8]. - The number of exhibitions increased by 23% compared to the previous year, with total exhibition space growing by 92%[13]. - The group successfully delivered various virtual events and exhibitions despite the pandemic, including the ASEAN International Furniture and Furnishings Exhibition and the Philippine National Trade Exhibition[43][45]. - The group managed and operated the Jinjiang International Exhibition Center, successfully delivering 16 exhibitions and projects during the year[22]. - The group participated in the Dubai Expo, managing over 200 projects, marking the largest scale of participation in 30 years[19]. Digital Transformation and Strategy - The company is focused on leveraging digital solutions to connect brands with audiences, enhancing project value and impact[3]. - Future strategies will integrate digital and physical elements to create seamless experiences for clients[4]. - The company continues to enhance its digital transformation strategy to meet new market demands and increase revenue sources[11]. - The company is undergoing a digital transformation, integrating digital strategies into its operations to meet current and future customer needs[61]. - The company has invested in new technologies and digital media to enhance its service offerings and improve operational efficiency[70]. Financial Position and Assets - Total assets reached HKD 5.386 billion in 2021, compared to HKD 4.765 billion in 2020, indicating an increase of about 13%[74]. - The total net value of tangible assets increased by 17.8% to approximately HKD 1.648 billion (2020: HKD 1.399 billion)[46]. - Cash and bank balances amounted to HKD 1.483 billion (2020: HKD 1.304 billion), with a net cash balance of HKD 754 million after deducting external interest-bearing borrowings (2020: HKD 638 million)[47]. - The company's net asset value reached HKD 2,319,468 thousand in 2021, up from HKD 2,097,513 thousand in 2020, indicating a growth of 10.6%[176]. Governance and Compliance - The company maintained compliance with the corporate governance code, although the roles of Chairman and CEO are held by the same individual, which deviates from the recommended practice[79]. - The board of directors held four meetings and one annual general meeting during the fiscal year ending October 31, 2021[81]. - The company has received annual confirmations of independence from all current independent non-executive directors, affirming their status as independent individuals[83]. - The company is committed to equal opportunities and regularly reviews its board diversity policy to ensure effectiveness[92]. Shareholder Returns - The company proposed a final dividend of HKD 0.050 per share, up from HKD 0.025 per share in the previous year, representing 45.2% of the basic earnings per share[8]. - The board recommends a final dividend of HKD 0.05 per share, totaling HKD 5.0 million for the year, compared to HKD 2.5 million in the previous year[110]. - The total reserves available for distribution to shareholders amount to HKD 751.53 million, down from HKD 771.05 million in the previous year[111]. Market Expansion and Future Outlook - The company is expanding its operations in the Greater Bay Area, with a focus on business development and operational management in key cities like Guangzhou and Shenzhen[71]. - The company is actively pursuing market expansion in Europe, the Middle East, and Africa, leveraging its global operational management expertise[70]. - The company anticipates further improvement in 2022, driven by the demand for digital and hybrid projects, despite ongoing impacts from the COVID-19 pandemic[56]. Risk Management - The board of directors is responsible for the effectiveness of risk management and internal control systems, with the internal audit department monitoring these systems continuously[99]. - The company has established a risk management committee composed of senior management to set, implement, and monitor risk management policies and procedures[99].

Financial Performance - Revenue for the six months ended April 30, 2021, was HKD 1,875,768, a slight increase from HKD 1,868,010 in the same period of 2020, representing a growth of 0.5%[2] - Gross profit decreased to HKD 536,347 from HKD 616,133, reflecting a decline of approximately 13%[2] - Core operating profit increased to HKD 92,087, up from HKD 84,300, marking a growth of about 9.5%[2] - Net profit for the period was HKD 43,867, compared to HKD 25,177 in the previous year, indicating a significant increase of 74.3%[3] - Basic and diluted earnings per share rose to 4.65 cents from 1.95 cents, an increase of 138.5%[2] - Total comprehensive income for the period amounted to HKD 136,515, a substantial recovery from a loss of HKD 22,161 in the prior year[3] - The total segment profit for the six months ended April 30, 2021, was HKD 98,547, compared to HKD 94,637 for the same period in 2020, reflecting an increase of 4.3%[24] - The company reported a net profit of HKD 51,278 for the six months ended April 30, 2021, compared to HKD 31,345 in 2020, marking an increase of 63.8%[24] Assets and Liabilities - Non-current assets increased to HKD 1,771,918 from HKD 1,779,571, showing a slight decrease of 0.4%[4] - Current liabilities rose to HKD 2,097,210 from HKD 1,975,037, reflecting an increase of approximately 6.2%[5] - The company's total assets less current liabilities stood at HKD 2,814,606, a marginal increase from HKD 2,789,903[6] - Shareholders' equity increased to HKD 2,077,645 from HKD 1,957,974, representing a growth of about 6.1%[7] - Total equity amounted to HKD 2,155,303 thousand, a decrease of HKD 22,161 thousand compared to the previous period[9] - Retained earnings were HKD 1,574,894 thousand, reflecting an increase of HKD 24,123 thousand during the period[9] - Cash and cash equivalents at the end of the period were HKD 1,184,559 thousand, down from HKD 1,242,008 thousand in the previous year[12] - Trade receivables amounted to approximately HKD 703,438,000 as of April 30, 2021, up from HKD 660,632,000 as of October 31, 2020, reflecting an increase of 6.5%[38] - Trade payables were approximately HKD 317,531,000 as of April 30, 2021, down from HKD 381,629,000 as of October 31, 2020, indicating a decrease of 16.8%[39] Cash Flow and Financing - Net cash used in operating activities was HKD (101,930) thousand, compared to HKD 118,349 thousand generated in the previous year[11] - The company reported a net cash outflow from financing activities of HKD (29,479) thousand, a significant decrease from HKD (106,139) thousand in the prior period[11] - The foreign exchange rate effect on cash and cash equivalents was HKD 24,517 thousand, contrasting with a loss of HKD (32,322) thousand in the previous year[11] - Total borrowings increased to HKD 680 million as of April 30, 2021, compared to HKD 666 million on October 31, 2020[63] - The current ratio was 1.50 times as of April 30, 2021, slightly down from 1.51 times on October 31, 2020, while the debt ratio decreased to 9.79% from 11.47%[64] Segment Performance - Revenue from the Greater China region was HKD 1,132,181 for the six months ended April 30, 2021, up from HKD 801,918 in 2020, indicating a significant growth of 41.2%[25] - Revenue from the exhibition, project, and brand activation segment decreased by 3.4% to HKD 1.431 billion from HKD 1.481 billion[49] - Revenue from visual brand activation increased by 25.0% to HKD 200 million from HKD 160 million[49] - Revenue from museums and themed entertainment rose by 15.7% to HKD 228 million from HKD 197 million[49] - Revenue from conference planning activation decreased by 43.3% to HKD 17 million from HKD 30 million[49] Government Support and Subsidies - The company recognized government subsidies amounting to HKD 42,784 during the period, compared to HKD 8,591 in the previous year, indicating a substantial increase[31] Corporate Governance and Shareholder Information - The company has adhered to the corporate governance code as per the listing rules, with a noted deviation where the roles of Chairman and CEO are held by the same individual[84] - The company confirmed that all directors complied with the standards set out in the code of conduct for securities transactions during the period ending April 30, 2021[85] - The largest shareholder, Pine Asset Management Limited, holds 462,167,186 shares, representing 37.33% of the issued share capital[81] - FMR LLC is the second-largest shareholder with 123,789,010 shares, accounting for 10.00% of the issued share capital[81] Future Outlook and Strategic Initiatives - The company anticipates continued challenges in 2021 due to ongoing lockdowns and travel restrictions in its operating markets[66] - The company has been appointed as the designated service provider for several major exhibitions in China for the second half of 2021, indicating a recovery in event activities[66] - The company is set to activate brands for the Arabian Travel Market in Dubai, marking a reopening of the UAE market post-pandemic[67] - The company is preparing for its role in the Tokyo Olympics, which is scheduled to open in July 2021, despite rising COVID-19 cases in Japan[67] - The company is involved in approximately 20 pavilions at the Dubai Expo, marking the largest scale of participation in its history[68] Cost Management and Operational Efficiency - The group has implemented cost-saving measures, significantly reducing fixed overhead costs, maintaining operational flexibility[48] - The company is adopting a cautious approach to cost control due to uncertainties from the COVID-19 pandemic while remaining optimistic about future events[71] Digital and Technological Investments - The company continues to invest in digital capabilities to quickly regain momentum post-COVID-19[71]

Financial Performance - Total revenue for the year was HKD 34.38 billion, a decrease of 31.5% compared to HKD 50.17 billion in 2019[28]. - Core operating profit fell to HKD 115.1 million, down 70.4% from HKD 389.5 million in 2019[28]. - Profit attributable to shareholders decreased by 80.3% to HKD 50.5 million, compared to HKD 256.8 million in 2019[28]. - EBITDA decreased by 60.2% to HKD 179.3 million, down from HKD 450.6 million in 2019[28]. - Basic earnings per share dropped to HKD 0.0408, a decline of 80.3% from HKD 0.2076 in 2019[28]. - Proposed final dividend is HKD 0.025 per share, down from HKD 0.135 per share in 2019, representing a decrease of 81.5%[33]. - The group's total revenue from Greater China reached HKD 34.38 billion, accounting for 46.6% of total revenue, down from 53.9% in the previous year[40]. - The exhibition, project, and brand activation segment generated revenue of HKD 24.43 billion, representing 71.0% of total revenue, a decrease from 77.5% in the previous year[42]. - The visual brand activation division reported revenues of HKD 155 million in 2020, down from HKD 255 million in 2019, representing a decline of 39.2%[63][65]. - The visual brand activation division incurred a loss of HKD 9.7 million in 2020, compared to a profit of HKD 23.9 million in 2019[66]. - The division's revenue for the fiscal year 2020 was HKD 797 million, representing a 9.2% increase from HKD 730 million in 2019, and accounted for 23.2% of the group's total revenue[71]. - The division recorded a loss of HKD 82 million in 2020, compared to a profit of HKD 25.4 million in 2019, with revenue dropping from HKD 144 million to HKD 43 million[75]. - The company's revenue for 2020 was HKD 34.38 billion, a decrease from HKD 50.17 billion in 2019, representing a decline of approximately 31.5%[103]. - The profit attributable to shareholders for 2020 was HKD 50.5 million, down from HKD 256.8 million in 2019, indicating a decrease of about 80.4%[103]. - Total assets as of October 31, 2020, were HKD 47.65 billion, compared to HKD 48.98 billion in 2019, reflecting a decrease of approximately 2.7%[104]. - The net equity attributable to shareholders was HKD 19.58 billion in 2020, slightly down from HKD 19.83 billion in 2019, a decrease of about 1.3%[104]. - The operating profit for 2020 was HKD 90.58 million, a significant drop from HKD 377.19 million in 2019, representing a decline of approximately 76%[106]. - The company reported a pre-tax profit of HKD 59.30 million for 2020, down from HKD 318.75 million in 2019, indicating a decrease of about 81.4%[106]. - Total liabilities for 2020 were HKD 26.67 billion, a slight decrease from HKD 27.42 billion in 2019, reflecting a reduction of approximately 2.8%[107]. Impact of COVID-19 - The pandemic has significantly impacted the business, particularly in the exhibition and project activation sectors due to travel restrictions and lockdown measures[32]. - The number of global exhibitions served by the group decreased by 70% due to travel restrictions and quarantine requirements[44]. - The group implemented cost-saving measures and cash reserves to mitigate the impact of COVID-19, which significantly reduced regular operating expenses[38]. - The company has shifted to virtual and digital solutions in response to COVID-19, increasing demand for virtual or hybrid projects[53]. - The company launched a new VX Events platform in the Philippines to adapt to ongoing lockdowns, successfully transitioning several exhibitions to virtual formats[77]. - The company has activated several virtual and hybrid projects, including the HP virtual event and the JD Global Technology Explorer Conference, indicating a shift towards digital solutions[90]. Strategic Initiatives - The company aims to continue investing in sustainable digital infrastructure to drive comprehensive brand activation business growth[2]. - The company is committed to transforming and growing to create and enhance value for customers and shareholders amid challenging conditions[2]. - The group plans to invest in content creation and community engagement to align with consumer trends and enhance brand activation effectiveness[38]. - The company is expected to complete the public transport signage project at Bukit Timah MRT Station in Singapore by 2021[70]. - The company has established a joint venture with Semi Permanent to host design festivals in Asia and the Middle East, enhancing its innovative offerings[77]. - The company is considering strategic acquisitions to enhance its market position, with a budget of $300 million earmarked for potential deals[200]. - The company plans to focus on market expansion and new product development in the upcoming fiscal year[109]. - The company is actively involved in various international organizations, enhancing its global presence and networking opportunities[98]. Governance and Compliance - The board of directors held four meetings and one annual general meeting during the fiscal year ending October 31, 2020, ensuring active governance[111]. - The company has maintained compliance with the corporate governance code as per the Hong Kong Stock Exchange regulations[109]. - The company has received annual confirmation letters regarding the independence of all current independent non-executive directors, and it believes they are all independent individuals[114]. - The company’s non-executive directors have a designated term of two years and must stand for re-election at the annual general meeting[117]. - The audit committee, composed of four independent non-executive directors, held three meetings during the fiscal year to discuss financial statements and internal control systems[120]. - The company is committed to providing equal opportunities and regularly reviews its board diversity policy[121]. - The total auditor's remuneration for the year amounted to HKD 4,778,000, a decrease of 28% from HKD 6,625,000 in the previous year[126]. - The company has adopted a dividend policy allowing for two dividends per year, with the board considering factors such as actual and expected financial performance and cash flow needs[133]. - The company is committed to timely disclosure of information to shareholders, with annual general meetings serving as a platform for communication[132]. - The company has established a nomination policy for directors, considering factors such as strategy, skills, and independence[124]. Assets and Liabilities - The group's total tangible assets increased by 2.9% to approximately HKD 1.399 billion as of the fiscal year-end, compared to HKD 1.360 billion in 2019[79]. - Cash and bank balances stood at HKD 1.304 billion, up from HKD 1.294 billion in 2019, while net cash balance after deducting borrowings was HKD 638 million, down from HKD 682 million[80]. - Total borrowings increased to HKD 666 million in 2020 from HKD 612 million in 2019, with long-term borrowings at HKD 394 million, up from HKD 354 million[81]. - Employee costs for the year amounted to approximately HKD 844 million, a decrease from HKD 960 million in 2019[82]. - The debt ratio for 2020 stands at 11.47%, a significant increase from 7.23% in 2019, reflecting higher leverage[84]. Market and Customer Insights - The company anticipates significant opportunities in 2021 driven by the recovery of the Chinese economy[89]. - Customer satisfaction ratings improved to 85%, reflecting a 5% increase from the previous quarter[200]. - The company is investing in new technology development, allocating $50 million towards R&D initiatives[200]. - Market expansion efforts are underway, with plans to enter three new international markets by the end of the year[200]. Risk Management - The board is responsible for the effectiveness of risk management and internal control systems, with a dedicated risk management committee in place[128]. - Key audit matters identified include impairment of trade receivables and contract assets, revenue from construction contracts, and impairment assessments of goodwill and other intangible assets[191]. - The company has maintained sufficient public float as required by listing rules throughout the year[185]. Environmental Commitment - The company is committed to promoting environmental sustainability and complying with applicable environmental laws and regulations[180].

Financial Performance - Revenue for the six months ended April 30, 2020, was HKD 1,868,010 thousand, a decrease of 24.5% compared to HKD 2,474,057 thousand in the same period of 2019[2] - Gross profit for the same period was HKD 616,133 thousand, down 16.6% from HKD 739,104 thousand year-on-year[2] - Core operating profit decreased to HKD 84,300 thousand, representing a decline of 56.0% from HKD 191,965 thousand in the previous year[2] - The net profit for the period was HKD 25,177 thousand, a significant drop of 78.9% compared to HKD 119,489 thousand in 2019[3] - Basic and diluted earnings per share were both 1.95 cents, down from 9.95 cents in the prior year[2] - The company reported a total comprehensive loss of HKD 22,161 thousand for the period, compared to a comprehensive income of HKD 163,496 thousand in the same period last year[4] - The company reported a total segment profit of HKD 94,637,000 for the six months ended April 30, 2020, down from HKD 213,327,000 in the same period of 2019, indicating a decrease of about 55.7%[33] - The group reported a net profit of HKD 6,168,000 for the six months ended April 30, 2020, down from HKD 33,057,000 in 2019, with significant depreciation and amortization expenses impacting profitability[37] - Profit attributable to shareholders was HKD 24 million, compared to HKD 123 million in the previous year[55] Assets and Liabilities - Total assets as of April 30, 2020, amounted to HKD 2,770,285 thousand, a decrease from HKD 3,182,598 thousand as of October 31, 2019[6] - Non-current liabilities increased to HKD 789,132 thousand from HKD 532,350 thousand year-on-year[7] - Total liabilities increased to HKD 132.043 million from HKD 134.263 million year-on-year[47] - Current liabilities rose significantly to HKD 34.585 million from HKD 21.259 million year-on-year[47] - Trade receivables decreased to HKD 698,607,000 as of April 30, 2020, down from HKD 1,148,933,000 as of October 31, 2019, with a notable reduction in receivables aged less than 91 days[44] - Trade payables also decreased to HKD 424,711,000 as of April 30, 2020, compared to HKD 491,460,000 as of October 31, 2019, indicating improved cash flow management[46] - Total equity amounted to HKD 2,155,303,000, with retained earnings at HKD 1,574,894,000[8] Cash Flow - Cash and cash equivalents stood at HKD 1,248,443 thousand, slightly down from HKD 1,278,521 thousand in the previous year[6] - Net cash generated from operating activities was HKD 118,349,000, compared to HKD 166,255,000 in the previous year[11] - The company reported a net cash outflow from investing activities of HKD 10,019,000, a significant improvement from HKD 176,809,000 in the previous year[11] - The company experienced a net cash outflow from financing activities of HKD 106,139,000, contrasting with a net inflow of HKD 272,857,000 in the previous year[11] - Cash and cash equivalents at the end of the period were HKD 1,242,008,000, an increase from HKD 1,140,814,000 in the previous year[12] Lease and Financial Reporting Standards - The group adopted all new and revised Hong Kong Financial Reporting Standards effective from November 1, 2019, including HKFRS 16 on leases[15] - Under HKFRS 16, the group recognized right-of-use assets of HKD 256,913,000 and lease liabilities of HKD 256,913,000 as of April 30, 2020, compared to HKD 213,884,000 and HKD 213,884,000 respectively as of November 1, 2019[20] - The group chose not to recognize right-of-use assets and lease liabilities for certain low-value assets, expensing lease payments on a straight-line basis[19] - The group assessed lease terms, including options to extend, which significantly impacted the recognized lease liabilities and right-of-use assets[19] - The group classified its leases as operating leases when it acted as a lessor, with no transitional adjustments required under HKFRS 16[24] - The group applied practical expedients for leases with terms of 12 months or less, opting not to recognize right-of-use assets and liabilities[23] - The total assets increased by HKD 133,959,000 due to the recognition of additional right-of-use assets and lease liabilities upon the transition to HKFRS 16[26] - As of April 30, 2020, the company recognized right-of-use assets of HKD 259,808,000 and lease liabilities of HKD 182,656,000 due to the initial application of HKFRS 16[28] Revenue Breakdown - Revenue from the Greater China region was HKD 801,918,000 for the six months ended April 30, 2020, compared to HKD 1,475,477,000 in 2019, reflecting a decline of approximately 45.6%[33] - The company reported a decrease in revenue from the exhibition and project marketing services segment, generating HKD 1,480,562,000 for the six months ended April 30, 2020, down from HKD 2,057,309,000 in 2019, a decline of approximately 28%[32] - Revenue from visual brand experience decreased by 44.9% to HKD 81 million (2019: HKD 147 million)[57] - Revenue from museums, themed environments, interior decoration, and retail increased by 34.6% to HKD 276 million (2019: HKD 205 million)[57] - Revenue from conference and exhibition management decreased by 53.8% to HKD 30 million (2019: HKD 65 million)[57] - The number of exhibitions and projects where the company served as the designated service provider decreased by nearly 63% compared to the previous year[58] Strategic Initiatives - The company plans to continue its market expansion and product development strategies moving forward[10] - The company is continuing to diversify its client base, which helps to expand revenue sources across various industries[63] - The company has ongoing contracts with several international brands, including Infiniti and Mercedes-Benz, with projects expected to be completed in the second half of the fiscal year[63] - The group is undergoing a digital transformation strategy that has become a significant source of revenue and competitive advantage, particularly in retail smart showrooms and corporate digital exhibitions[75] - The company delivered virtual events for clients, including Huawei's Developer Conference, attracting over 10 million interactions and views[60] - A strategic alliance was formed with Migu Video to create an innovative VR virtual exhibition model, combining strengths in various digital and experiential marketing areas[61] Corporate Governance - The company has complied with the corporate governance code as per the listing rules, with a noted deviation regarding the separation of the roles of Chairman and CEO[88] - The company confirmed that all directors complied with the standard code of conduct for securities transactions during the period ended April 30, 2020[89] - The audit committee has reviewed the accounting principles and practices adopted by the group and discussed internal controls and financial reporting matters[90] Shareholder Information - Major shareholders include Pine Asset Management Limited with 462,167,186 shares, representing 37.33% of the issued share capital, and FMR LLC with 123,789,010 shares, representing 10.00%[85] - The total number of unexercised stock options as of April 30, 2020, is 5,180,000, with 2,029,000 held by directors and 3,151,000 held by employees[80] - The total expense recognized for stock options granted by the company for the six months ended April 30, 2020, is HKD 73,000, compared to HKD 53,000 for the same period in 2019[83]

Financial Performance - Total revenue for the year reached HKD 50.17 billion, an increase of 8.3% compared to HKD 46.31 billion in 2018[32]. - Core operating profit rose to HKD 3.895 billion, reflecting a growth of 6.4% from HKD 3.661 billion in the previous year[34]. - Net profit attributable to shareholders decreased by 5.4% to HKD 2.568 billion, down from HKD 2.715 billion in 2018[36]. - EBITDA increased by 2.8% to HKD 4.506 billion, compared to HKD 4.383 billion in 2018[37]. - Basic earnings per share were HKD 0.2076, a decline of 5.7% from HKD 0.2201 in the previous year[38]. - The group's total revenue from the Greater China region reached HKD 50.17 billion, accounting for 53.9% of total revenue, a decrease from 59.1% in the previous year[56]. - Revenue from the exhibition and project marketing services segment was HKD 38.88 billion, representing 77.5% of total revenue, with a profit of HKD 3.205 billion, down from HKD 3.281 billion the previous year[57]. - The revenue for the visual branding division was HKD 255 million in 2019, down from HKD 368 million in 2018, representing a decrease of 30.7%[70]. - The profit for the visual branding division was HKD 23.9 million in 2019, compared to HKD 42.8 million in 2018, a decline of 44.3%[71]. - The revenue for the museum and themed environment division increased to HKD 730 million in 2019 from HKD 359 million in 2018, marking a growth of 103.1%[77]. - The profit for the museum and themed environment division rose to HKD 71.5 million in 2019, up from HKD 30.5 million in 2018, an increase of 134.4%[77]. - The revenue from the event management segment was HKD 144 million in 2019, up from HKD 86 million in 2018, representing a growth of 67.4%[82]. - The profit from the event management segment increased to HKD 25.4 million in 2019, compared to HKD 20.1 million in 2018, marking a growth of 26.2%[82]. Acquisitions and Expansion - The company successfully acquired Local Projects, LLC in March 2019, enhancing its marketing capabilities[51]. - In June 2019, the acquisition of Infinity Marketing Team, LLC was completed, expanding the company's service offerings in experiential marketing[51]. - The acquisition of Not Ordinary Media, LLC (NOM) underperformed expectations, leading to a revision of cash flow forecasts for this cash-generating unit due to customer base restructuring and impairment losses on goodwill[52]. - The company has ongoing contracts for theme parks in Chongqing and Wuxi, continuing its expansion in the Chinese market[79]. - The group secured several contracts for the upcoming 2020 Dubai Expo, including the design and content development for multiple national pavilions[100]. - The group won a significant venue facilities contract for the Tokyo 2020 Olympics, providing technical design and construction services for the archery venue[101]. - The company is expanding its operations in Southeast Asia and India, with a focus on enhancing its digital capabilities[107]. - The company has established a visual branding experience division, with contracts for major restaurant brands and logistics platforms in China, indicating a strategic expansion in the domestic market[102]. Financial Position and Liquidity - The company maintained a current ratio of 1.44, slightly up from 1.42 in 2018, indicating improved liquidity[43]. - Total tangible assets decreased by 16.0% to approximately HKD 1.36 billion in 2019, down from HKD 1.62 billion in 2018[88]. - Cash and bank balances increased to HKD 1.29 billion in 2019 from HKD 871 million in 2018, representing a growth of 48.0%[90]. - Total borrowings rose significantly to HKD 612 million in 2019 from HKD 109 million in 2018, indicating a substantial increase in leverage[89]. - The debt ratio increased to 7.23% in 2019 from 0.39% in 2018, indicating a higher proportion of debt in the capital structure[92]. - The group reported total assets pledged as collateral for bank financing amounting to HKD 188,887 thousand, a slight decrease from HKD 194,114 thousand in the previous year[97]. - The company’s distributable reserves amount to HKD 840,073,000, a decrease from HKD 872,757,000 in the previous year[151]. Corporate Governance - The company has maintained compliance with the corporate governance code as per the Hong Kong Stock Exchange regulations for the fiscal year ending October 31, 2019[120]. - The board consists of four independent non-executive directors, ensuring a balance of power within the company's management structure[120]. - The company has adopted the standard code of conduct for securities transactions by directors, confirming compliance for the fiscal year ending October 31, 2019[121]. - The board is responsible for monitoring the company's business and governance policies, ensuring compliance with legal and regulatory requirements[122]. - The company has established a formal and transparent process for determining and monitoring the remuneration of directors and senior management[130]. - The company emphasizes timely disclosure of information to shareholders, with reports and announcements available on its website[143]. - The company has established a nomination policy for board members, considering factors such as company strategy and required skills for board composition[136]. - The company has a stock option plan approved on March 22, 2012, which allows the granting of options to eligible persons for a period of ten years[165]. - The company has not engaged in any related party transactions that require disclosure under the Listing Rules during the year[187]. - The company has maintained compliance with all relevant laws and regulations without any significant violations during the year[192]. Employee and Management - The company employed approximately 2,500 full-time staff globally, with a gender ratio close to 50:50 and over 70% of employees under the age of 40, highlighting the importance of attracting young talent for future growth[53]. - The group reported employee costs of approximately HKD 960 million for the year, an increase from HKD 865 million in the previous year, reflecting a growth of about 11%[99]. - The employee compensation policy is determined by the remuneration committee based on performance, qualifications, and market statistics[186]. - The management team is focused on leveraging data technology and innovative business models to enhance operational efficiency[107]. Future Outlook - The group is optimistic about growth in the 2020 fiscal year despite global economic uncertainties, focusing on delivering major projects and enhancing service innovation[103]. - The group anticipates greater contributions from acquisitions made in the US and UK over the past two years, starting in the 2020 fiscal year[103]. - The group continues to enhance its conference and exhibition management capabilities, with key projects planned for 2020 in Abu Dhabi and Singapore[103].