Financial Performance - For the year ended March 31, 2022, UBA Investments Limited recorded a loss attributable to owners of approximately HK$0.13 million, a significant improvement from a loss of HK$8.7 million in 2021[9]. - The loss per share improved to HK$0.0001 from HK$0.0068 in the previous year, indicating a reduction in losses[9]. - For the year ended March 31, 2022, the Group reported a loss before taxation of HK$129,000, a significant improvement compared to a loss of HK$8,889,000 in the previous year[159]. - The net loss attributable to owners of the Company was HK$129,000, down from HK$8,698,000 in the prior year, indicating a reduction of approximately 98.5%[159]. Investment Strategy - The Group plans to balance listed and unlisted investments to enhance returns and maintain liquidity for future opportunities[15]. - The Group's proactive investment strategy aimed to maximize shareholder profits despite intense market volatility[10]. - The Group's short-term investment strategy focuses on trading listed securities to maintain sufficient dividend levels, while the long-term strategy aims to balance listed and unlisted investments for better shareholder returns[18]. - The Group plans to maintain sufficient liquidity for potential high-potential unlisted investments during stock market fluctuations[18]. - Future reviews on the acquisition of unlisted equity investments will be conducted periodically[15]. Market Conditions - The Dow Jones Index increased by approximately 12% from 32,981 at the end of March 2021 to 36,952 in January 2022, but dropped by 6.6% to 34,678 by the end of March 2022[17]. - The Shanghai Composite Index rose by approximately 7.8% from 3,441 at the end of March 2021 to 3,708 in December 2021, but decreased sharply by 12.3% to 3,252 at the end of March 2022[22]. - The HSI decreased sharply by 22.5% from 28,378 at the end of March 2021 to 21,996 at the end of March 2022[23]. - The Fed's interest rate hikes, which began in March 2022, are expected to have a deleterious effect on stock markets[27]. - The resurgence of COVID-19 infections, particularly the Omicron variant, is impacting the economy of Hong Kong and the border reopening with China[27]. Asset Management - The Group's net assets remained stable at approximately HK$104.6 million, compared to HK$104.7 million in 2021, outperforming the Hang Seng Index which decreased by 22% during the same financial year[9]. - As of March 31, 2022, the Group's investment portfolio included listed securities valued at HK$97.2 million and unlisted investments with a fair value of HK$3.3 million, reflecting a strategy focused on diversification[11]. - The Group's total assets as of March 31, 2022, were significantly influenced by the performance of its top listed securities, which accounted for a substantial portion of the total asset value[35]. - The Group's gearing ratio was nil as there was no debt as of March 31, 2022[94]. Dividend Policy - The Group has not recommended any payment of final dividend for the year ended March 31, 2022[95]. - The Board has resolved not to recommend a payment of final dividend for the year[152]. Employee and Governance - The Group employed a total of 4 full-time employees as of March 31, 2022, compared to 3 in the previous year[100]. - The Company has complied with the Corporate Governance Code throughout the year ended March 31, 2022, with no significant deviations noted[110]. - Directors' remuneration is subject to shareholder approval and is reviewed annually by the Remuneration Committee, reflecting their duties and performance[141]. Environmental and Compliance - The Group is committed to reducing its environmental impact and ensuring compliance with environmental protection laws[190]. - The Company has complied with all material relevant laws and regulations in Hong Kong during the year[185].

Financial Performance - For the six months ended September 30, 2021, the gross proceeds from the disposal of trading securities amounted to HK$4,487,000, an increase of 88.0% compared to HK$2,388,000 in the same period of 2020[11]. - Revenue for the same period was HK$4,051,000, representing a 29.4% increase from HK$3,129,000 in 2020[11]. - The net loss on financial assets at fair value through profit or loss was HK$4,077,000, significantly improved from a loss of HK$20,270,000 in the previous year[11]. - The total comprehensive loss attributable to owners of the Company for the period was HK$1,998,000, a substantial reduction from HK$19,002,000 in the prior period[11]. - Basic and diluted loss per share decreased to 0.16 cents from 1.49 cents year-over-year[11]. - For the six months ended 30 September 2021, the Group reported a loss attributable to owners of approximately HK$1,998,000, a significant improvement from a loss of HK$19,002,000 in the same period of 2020, representing a reduction of approximately 89.5%[45][47]. - The decrease in net loss was primarily due to a reduction in realized and unrealized losses on financial assets at fair value through profit or loss, which amounted to approximately HK$4.1 million for the period, compared to HK$20.3 million in the previous corresponding period[99]. Assets and Equity - As of September 30, 2021, the Group's net assets were HK$102,688,000, down from HK$104,686,000 as of March 31, 2021[13]. - The Group's total equity as of September 30, 2021, was HK$102,688,000, compared to HK$104,686,000 as of March 31, 2021[13]. - The Group's net assets as of 30 September 2021 were approximately HK$102,688,000, a slight decrease from HK$104,686,000 as of 31 March 2021[56][58]. - The fair value of listed equity securities in Hong Kong was HK$95,445,000 as of 30 September 2021, down from HK$99,852,000 as of 31 March 2021, reflecting a decrease of approximately 4.5%[49][50]. - The fair value of unlisted equity securities increased to HK$1,898,000 as of 30 September 2021, compared to HK$1,450,000 as of 31 March 2021, representing an increase of approximately 30.9%[49][51]. Cash Flow and Liquidity - The cash and bank balances increased to HK$3,601,000 from HK$1,772,000 at the end of the previous reporting period[13]. - For the six months ended September 30, 2021, the net cash used in operating activities was HK$2,222,000, an improvement from HK$5,324,000 in the same period of 2020[18]. - The cash and cash equivalents at the end of the period increased to HK$3,601,000 from HK$3,550,000 at the end of the previous period, indicating a slight growth[18]. - The Group's cash levels as of September 30, 2021, were approximately HK$3,600,000, compared to HK$1,770,000 as of March 31, 2021, indicating healthy liquidity[100]. Investment Strategy - The Group operates solely in the investment holding and trading of securities, with all revenue derived from the Hong Kong market[31]. - The Group's short-term strategy focuses on trading listed securities to maintain sufficient dividend levels, while the long-term strategy aims to balance listed and unlisted investments for better returns[103]. - The Group plans to conduct further reviews on the acquisition of unlisted equity investments in the future[103]. - The Group remains cautiously optimistic about the outlook for global and Hong Kong equity markets, considering investments in higher-yield listed securities while maintaining sufficient liquidity for future opportunities[115][116]. Related Party Transactions - The amount due from related companies increased to HK$939,000 from HK$810,000[13]. - Investment management fees paid to a related company amounted to HK$807,000 for the period, a decrease from HK$836,000 in the same period of 2020, representing a decline of approximately 3.5%[62]. - The Group's transactions with connected parties were carried out in the normal course of business on mutually agreed terms[77]. Market Conditions - The Group expects challenges in global stock markets due to uncertainties surrounding the U.S. interest rate hike timetable and new regulations in China, alongside the impact of COVID-19 infections on Hong Kong's economy[114][116]. - The Hang Seng Index decreased sharply by 13.40% from 28,378 at the end of March 2021 to 24,575 at the end of September 2021, primarily due to negative impacts from COVID-19 and increased regulations in various sectors[111]. Dividend Policy - The Group did not declare any interim dividend for the six months ended 30 September 2021, consistent with the previous year[57][59]. - No performance fee was recorded for the six months ended 30 September 2021 and 2020, with management fees included under administrative expenses[66].

Financial Performance - For the year ended March 31, 2021, UBA Investments Limited recorded a loss attributable to owners of approximately HK$8.7 million, a significant improvement from a loss of HK$44.5 million in 2020[8]. - The Group's net assets as of March 31, 2021, were approximately HK$104.7 million, down 7.7% from HK$113.4 million in 2020, contrasting with a 20% increase in the Hang Seng Index during the same period[8]. - The Group reported a total unrealised loss of HK$8,215,000 from investments, with a realised loss of HK$5,287,000[83]. - The net loss attributable to owners of the Company for the year was HK$8,698,000, a decrease from HK$44,515,000 in the prior year, reflecting a reduction of about 80.5%[151]. - Total assets as of March 31, 2021, were HK$105,033,000, down from HK$113,933,000 in the previous year, representing a decline of approximately 7.9%[152]. - Total liabilities decreased to HK$347,000 from HK$549,000, a reduction of about 36.7%[152]. - The Company's net assets amounted to HK$104,686,000 as of March 31, 2021, compared to HK$113,384,000 in the previous year, indicating a decrease of approximately 7.6%[152]. - The Group had no debt as of March 31, 2021, resulting in a gearing ratio of nil[86]. - For the year ended March 31, 2021, the Group reported a loss before taxation of HK$8,889,000, compared to a loss of HK$45,004,000 in the previous year, indicating an improvement of approximately 80.3%[151]. Investment Strategy - The Group's short-term strategy focuses on trading listed securities based on market sentiment while maintaining sufficient dividend levels for operations[13]. - The long-term strategy aims to balance listed and unlisted investments to enhance returns and maintain liquidity for future opportunities[13]. - The Company has maintained its investment policies since its listing in 2000, focusing on medium-term capital appreciation through investments in listed and unlisted companies in Hong Kong and the PRC[156]. - The Company aims to invest in a diversified range of sectors, including information technology, telecommunications, manufacturing, and property, to mitigate risks associated with downturns in specific industries[157]. - The Group plans to maintain sufficient liquidity for future investment opportunities and may consider investing in higher yield listed securities[21]. Market Conditions - The stock markets in the U.S., China, and Hong Kong experienced an uptrend, driven by fiscal stimulus and the global rollout of COVID-19 vaccines, contributing to economic recovery[14]. - The Dow Jones Index increased approximately 50% from 21,917 at the end of March 2020 to 32,981 at the end of March 2021[15]. - The Shanghai Composite Index rose about 25% from 2,750 at the end of March 2020 to 3,441 at the end of March 2021[18]. - The HSI increased significantly by approximately 20% from 23,603 at the end of March 2020 to 28,378 at the end of March 2021[19]. - China's GDP grew by approximately 18.3% in the first quarter of 2021 compared to the same period last year[18]. Corporate Governance - The company has complied with the corporate governance code except for the absence of a specific term for independent non-executive directors[107]. - An independent non-executive director was unable to attend the AGM on August 14, 2020, which deviated from code provision A.6.7[108]. - The independent non-executive directors have confirmed their independence for the year ended March 31, 2021[173]. - The term of office for independent non-executive directors lasts until retirement by rotation according to the Company's Articles of Association[171]. - The Company has maintained appropriate directors and officers liability insurance for relevant legal actions against its directors[179]. Dividend and Shareholder Information - The Board resolved not to recommend any payment of final dividend for the year[87]. - The Company has reserves available for distribution totaling approximately HK$89,220,000 as of March 31, 2021, down from HK$92,312,000 in the previous year, a decrease of about 3.2%[154]. - The Group holds 4,600,000 shares in BOC, representing 0.002% interest in the issued share capital, and derived a dividend income of HK$861,000 for the year ended 31st March 2021[58]. - The Group holds 1,200,000 shares in Bank Com., representing 0.002% interest, and derived a dividend income of HK$381,000 for the year ended 31st March 2021[55]. - The Group holds 4,791,250 shares in Gemilang, representing 1.906% interest in the issued share capital, with no dividend received during the year[63]. Operational Performance - CK Hutchison Holdings recorded revenue of approximately HK$266,396 million for the year ended 31st December, 2020, with a total comprehensive income of approximately HK$54,715 million and net assets of approximately HK$630,063 million[29]. - MTR Corporation Limited reported total revenue of approximately HK$42,541 million and a net loss of approximately HK$4,809 million for the year ended 31st December, 2020, significantly impacted by the COVID-19 pandemic[38]. - PCCW Limited recorded revenue of approximately HK$38,046 million and total comprehensive income of approximately HK$674 million for the year ended 31st December, 2020[35]. - MTR's property development profit decreased by 1.3% to HK$5,507 million, with profit from underlying businesses decreasing by 58.5% to HK$4,381 million[38]. - Bank of Communications Co., Ltd. recorded a profit of approximately RMB79,570 million and total comprehensive income of approximately RMB71,021 million for the year ended December 31, 2020, with a profit attributable to shareholders of approximately RMB78,274 million[52]. Environmental and Social Responsibility - The Group is committed to reducing its environmental impact and complying with environmental protection laws[180]. - Environmental policies and performance are discussed in the "Environmental, Social and Governance Report" from pages 56 to 68 of the annual report[138]. Employee and Management Information - The Group employed a total of 3 full-time employees as of March 31, 2021, consistent with the previous year[92]. - The Company continues to provide favorable career development opportunities for its employees[181]. - Directors' remuneration is reviewed annually by the Remuneration Committee, with fees subject to shareholders' approval at general meetings[133].

Financial Performance - Revenue for the period was HK$3,129,000, slightly down by 2.2% from HK$3,201,000 in 2019[10] - The total comprehensive loss attributable to owners of the Company for the period was HK$19,002,000, compared to HK$30,925,000 in the same period last year, indicating a 38.5% reduction in losses[10] - Basic and diluted loss per share was reported at 1.49 cents, an improvement from 2.43 cents in the prior year[10] - The Group reported a loss before taxation of approximately HK$19,002,000 for the six months ended 30 September 2020, compared to a loss of HK$30,925,000 in the same period of 2019, indicating a 38% improvement year-over-year[42][44] - The Group recorded a net loss attributable to owners of approximately HK$19,002,000 for the six months ended 30 September 2020, a decrease from a net loss of approximately HK$30,925,000 in the same period last year, reflecting a reduction in realized and unrealized losses on financial assets at fair value through profit or loss[95] Financial Assets and Liabilities - The net loss on financial assets at fair value through profit or loss was HK$20,270,000, representing a 35.7% improvement from a loss of HK$31,391,000 in the previous year[10] - Financial assets at fair value through profit or loss decreased to HK$86,233,000 as of 30 September 2020, down from HK$103,800,000 as of 31 March 2020, representing a decline of approximately 17%[46][47] - The unrealized loss on listed equity investments was HK$12,490,000 for the six months ended September 30, 2020, down from HK$30,483,000 in the previous year, showing a 59.0% decrease[35] - The net realized and unrealized loss on financial assets at fair value through profit or loss for the period ended 30 September 2020 amounted to approximately HK$20.3 million[199] Cash Flow and Liquidity - Cash and bank balances as of September 30, 2020, were HK$3,550,000, a decrease from HK$5,745,000 at the end of March 2020[11] - The net decrease in cash and cash equivalents during the period was HK$2,195,000, an improvement from HK$6,360,000 in the prior year, indicating a 65.5% reduction in cash outflow[16] - The Group maintained cash and bank balances of approximately HK$3.55 million and HK$5.75 million for the six months ended 30 September 2020 and the year ended 31 March 2020, respectively, indicating healthy liquidity[95] Investment Strategy - The Group's short-term strategy focuses on trading listed securities and maintaining sufficient dividend income for operations[99] - The Group's long-term strategy aims to balance listed and unlisted investments to enhance returns for shareholders while maintaining liquidity for future opportunities[99] - The Group plans to invest in more unlisted equity securities with potential for future listing[109] - The Group's investment strategy will continue to be cautious and pragmatic to achieve better returns for shareholders[109] Market Conditions - The Dow Jones Index increased by 26.76% from 21,917 at the end of March 2020 to 27,781 at the end of September 2020[102] - The Shanghai Composite Index rose by 17.02% from 2,750 at the end of March 2020 to 3,218 at the end of September 2020[105] - The Hong Kong Stock Index (HSI) slightly decreased by 0.61% from 23,603 at the end of March 2020 to 23,459 at the end of September 2020[106] - The Caixin China Manufacturing Purchasing Managers Index (PMI) improved from 49.4 in April 2020 to 53 at the end of September 2020[105] Administrative Expenses - The administrative and other operating expenses were reduced to HK$2,305,000 from HK$2,639,000 in the prior year, reflecting a decrease of 12.6%[10] - The Company reported no finance costs for the current period, compared to HK$302,000 in the previous year[10] Shareholder Information - The basic loss per share for the period was calculated based on 1,271,732,200 ordinary shares, resulting in a loss per share of approximately HK$0.015[42][44] - The Group did not declare any interim dividend for the six months ended 30 September 2020, consistent with the previous year where no dividend was declared[50][52] Connected Transactions - The Group's connected transactions were approved at the extraordinary general meeting of shareholders held on 26 March 2019[68] - The Company has entered into a New Investment Management Agreement with Upbest Assets Management Limited, with a monthly management fee of 1.5% per annum of the net asset value[55] Other Investments - The Group holds 50,000 shares in CK Hutchison Holdings Limited, representing 0.001% of its issued share capital, and received dividend income of approximately HK$122,000 for the period ended 30 September 2020[122] - The Group holds 5,800,265 shares in PCCW, representing 0.075% interest in the issued share capital of PCCW[127] - The Group holds 182,643 shares in MTR, representing 0.003% interest in the issued share capital of MTR[133] - The Group holds 1,200,000 shares in Bank of Communications, representing 0.0016% of its issued share capital, and received a dividend income of approximately HK$ 381,000[164] - The Group holds 4,600,000 shares in Bank of China, representing 0.0016% of its issued share capital, and received a dividend income of approximately HK$ 861,000[171] - The Group holds 4,791,250 shares in Gemilang, representing 1.906% of its issued share capital, with no dividend received during the period[178]

Financial Performance - For the year ended March 31, 2020, UBA Investments Limited recorded a loss attributable to owners of approximately HK$44.5 million, compared to a loss of HK$23.3 million in 2019, representing an increase in loss of 91%[8]. - The unrealized loss related to listed securities was HK$37.8 million, up from HK$12.0 million in 2019, while the unrealized loss from unlisted investments was HK$4.1 million, down from HK$12.4 million[8]. - Gross proceeds from the disposal of trading securities decreased by 57%, from HK$40.5 million to HK$17.6 million, as the Group shifted focus to unlisted shares investment[8]. - As of March 31, 2020, the Group's net assets were approximately HK$113.4 million, a decrease of 28% from HK$157.9 million in 2019, aligning with a 19% decrease in the Hang Seng Index during the same period[8]. - The Group reported a net loss attributable to owners of the Company of HK$44,515,000 for the year ended March 31, 2020, compared to a loss of HK$23,282,000 in the previous year, representing an increase in loss of approximately 91.5%[175]. - Total assets decreased to HK$113,933,000 as of March 31, 2020, down from HK$158,933,000 in the previous year, reflecting a decline of about 28.3%[175]. - The Group's total liabilities were HK$549,000 as of March 31, 2020, a decrease from HK$1,034,000 in the previous year, indicating a reduction of approximately 47.1%[175]. - The Company has reserves available for distribution amounting to approximately HK$92,312,000 as of March 31, 2020, compared to HK$95,455,000 in the previous year[178]. Investment Strategy - The short-term strategy focuses on trading listed securities to maintain sufficient dividend levels, while the long-term strategy aims to balance listed and unlisted investments for better returns[11]. - The Group's proactive investment strategy aimed to maximize profit for shareholders amidst intense market volatility, particularly due to the impacts of COVID-19 and global economic conditions[9][15]. - The Group's investment strategy aligns with market trends, as it seeks to invest in sectors with higher yield and stability, particularly during periods of economic uncertainty[9]. - The company aims to invest in various industries including IT, telecommunications, manufacturing, services, real estate, and infrastructure to balance risks[185]. - The company intends to hold investments for medium-term capital growth without a specific timeline for realization[190]. - The company is restricted from investing more than 50% of its assets outside Hong Kong and the PRC[196]. - The company will not invest more than 20% of its net asset value in any single company or entity[189]. - The company will not take legal or effective management control of any investment exceeding 30% of voting rights in any one company[189]. Market Conditions - The overall market environment was affected by the U.S.-China trade war and the COVID-19 pandemic, leading to significant fluctuations in stock market performance[15]. - The Hong Kong Stock Index (HSI) fell by 19% from 29,051 in March 2019 to 23,603 at the end of March 2020 due to the combined effects of the trade war and COVID-19[22]. - The COVID-19 pandemic led to a further decline in the Shanghai Composite Index by 12% to 2,750 at the end of March 2020[21]. - Following the signing of the Phase One Economic and Trade Agreement with the U.S. in January 2020, the Shanghai Composite Index increased by 7.6% to 3,127[21]. Dividend and Income - Dividend income from listed securities investment was significantly driven by the banking and telecommunications sectors, which contributed 77% of total dividend income during the period[9]. - The Board has resolved not to recommend a payment of final dividend for the year ended March 31, 2020[168]. - The Group holds 40,000 shares in CKH Holdings, representing 0.001% interest, and derived a dividend income of HK$126,000 for the year ended 31st March 2020[36]. - The Group holds 5,800,265 shares in PCCW, representing 0.075% interest, and derived a dividend income of HK$1,816,000 for the year ended 31st March 2020[42]. - China Merchants recorded a dividend income of HK$120,000 for the year ended 31st March 2020, holding 1,510,000 shares, representing 0.0308% of issued share capital[50]. - The Group holds 178,000 shares in MTR, representing 0.0029% interest, with no dividend received during the year[48]. - The Group holds 26,578,278 shares in Yi Hua Hldg, representing 2.650% of issued share capital, with no dividend received during the year[62]. - The Group holds 1,000,000 shares in Bank Com, representing 0.0013% of issued share capital, with no dividend received during the year[68]. Corporate Governance - The company has complied with the Corporate Governance Code throughout the year, with no significant deviations noted[123]. - The independent non-executive director was unable to attend the AGM on August 16, 2019, which constituted a deviation from the Corporate Governance Code[130]. - The company has no share option scheme in place[119]. - The Directors' remuneration is reviewed annually by the Remuneration Committee, with fees subject to shareholders' approval at general meetings[158]. - The company received confirmation of independence from its independent non-executive directors for the year ended March 31, 2020[199]. Employee and Operational Information - The Group employed a total of 3 full-time employees as of March 31, 2020, consistent with the previous year[110]. - The group employed a total of 3 full-time employees as of March 31, 2020, unchanged from the previous year[118]. - There were no significant capital commitments or contingent liabilities as of March 31, 2020[115]. - The Group did not make any material acquisitions or disposals of subsidiaries and associates during the year ended March 31, 2020[108]. Company Leadership - Dr. Huang has been the chairman of the board since April 30, 2015, and has extensive experience in corporate finance and investment[137]. - Mr. Zheng has over 20 years of experience in securities, corporate finance, and direct investment[138]. - Mr. Chan holds two master's degrees in Practising Accounting and Business Law and is a fellow of multiple accounting and governance institutes[140]. - Dr. Fung has been an honorary medical adviser for various organizations since 1997 and holds an MBA from Newport University[141]. - Mr. Tang has been a barrister in private practice since 1981 and has not held any directorship in other public companies in the past three years[145]. - Mr. Kwok has over 20 years of experience in banking, finance, and accounting, with a background in international financial institutions[146].

Financial Performance - For the six months ended September 30, 2019, the gross proceeds from the disposal of trading securities amounted to HK$10,154,000, a decrease of 65.6% compared to HK$29,549,000 in the same period of 2018[10]. - Revenue for the same period was HK$3,201,000, down 35.4% from HK$4,955,000 in 2018[10]. - The net loss on financial assets at fair value through profit or loss was HK$31,391,000, compared to a loss of HK$16,331,000 in the previous year, representing an increase in loss of 92.5%[10]. - The total comprehensive loss attributable to owners of the Company for the period was HK$30,925,000, compared to HK$13,702,000 in 2018, indicating a significant increase in losses[10]. - Basic and diluted loss per share for the period was 2.43 cents, compared to 1.29 cents in the same period last year, reflecting a deterioration in performance[10]. - The total loss for the period ended September 30, 2019, was HK$30,925,000, compared to a loss of HK$13,702,000 for the same period in 2018[13]. - The Group's retained profits decreased to HK$7,040,000 as of September 30, 2019, from HK$37,965,000 as of April 1, 2019[13]. - The Group recorded a net loss attributable to owners of approximately HK$30,925,000 for the six months ended 30 September 2019, compared to a net loss of approximately HK$13,702,000 in the same period last year, representing an increase in loss of approximately 125%[121]. - Realized and unrealized losses on financial assets at fair value through profit or loss increased to approximately HK$31.4 million for the period ended 30 September 2019, up from HK$16.3 million in the corresponding period[121]. Assets and Equity - As of September 30, 2019, the net assets of the Company were HK$126,974,000, down from HK$157,899,000 as of March 31, 2019, a decrease of 19.6%[11]. - The net asset value per share decreased to HK$0.10 from HK$0.12, a reduction of 16.7%[11]. - As of September 30, 2019, the total equity decreased to HK$126,974,000 from HK$157,899,000 as of April 1, 2019, reflecting a loss of HK$30,925,000 during the period[13]. - The fair value of listed equity securities in Hong Kong decreased to HK$87,437,000 as of September 30, 2019, down from HK$98,878,000 as of March 31, 2019, representing a decline of approximately 11.6%[56]. - The total financial assets at fair value through profit or loss amounted to HK$103,873,000 as of September 30, 2019, compared to HK$128,252,000 as of March 31, 2019, indicating a decrease of approximately 19.0%[56]. - The net asset value per share as of September 30, 2019, was approximately HK$0.0995, based on net assets of approximately HK$126,974,000[62]. Cash Flow and Liquidity - The cash and bank balances decreased to HK$19,353,000 from HK$25,713,000, a decline of 24.7%[11]. - The net cash used in operating activities for the six months ended September 30, 2019, was HK$9,561,000, an improvement compared to HK$11,139,000 for the same period in 2018[16]. - Cash and cash equivalents at the end of the period were HK$19,353,000, significantly up from HK$4,349,000 at the end of the same period in 2018[16]. - Cash and cash equivalents at the beginning of the period were HK$25,713,000, compared to HK$10,533,000 at the beginning of the same period in 2018[16]. - The Group maintained cash and bank balances of approximately HK$19.4 million and HK$25.7 million for the six months ended September 30, 2019 and the year ended 31 March 2019, respectively, indicating healthy liquidity[121]. Expenses and Costs - Administrative and other operating expenses increased to HK$2,639,000 from HK$2,273,000, an increase of 16.1%[10]. - Finance costs rose significantly to HK$302,000 from HK$57,000, an increase of 428.1%[10]. - The total finance costs for the six months ended September 30, 2019, included interest on other borrowings of HK$302,000, up from HK$57,000 in 2018[45]. Investments and Market Performance - The Group's principal activities include investment holding and trading of securities, with its shares listed on The Stock Exchange of Hong Kong Limited[17]. - The Group's investment portfolio includes significant holdings in listed and unlisted securities, with the top ten listed investments representing a substantial portion of the Group's net assets as of September 30, 2019[138]. - The Group remains cautiously optimistic about the outlook for global and Hong Kong equity markets despite ongoing challenges, including the US-China trade war and protests in Hong Kong[136]. - The Group plans to invest in more unlisted equity securities with good potential for listing, building on past successful experiences[137]. - The Group's investment in PCCW Limited was valued at approximately HK$25,521,000, representing 19.95% of the Group's total assets as of September 30, 2019[142]. - The Group's investment in Yi Hua Holdings Limited decreased in fair value to approximately HK$8,771,000, accounting for 6.86% of total assets as of September 30, 2019[144]. - The Group holds 40,000 shares in CK Hutchison Holdings, representing 0.001% of its issued share capital, and received dividend income of approximately HK$126,000[148]. - The Group holds 5,800,265 shares in PCCW, representing 0.075% of its issued share capital, and received dividend income of approximately HK$1.29 million[152]. Regulatory and Accounting Changes - The Group has not early adopted any new or amended HKFRSs that are not yet effective, which may impact future financial performance[28]. - The application of new and amended HKFRSs in the current period has had no material impact on the Group's financial performance and positions[25]. - The Group reclassified all listed and unlisted equity investments from available-for-sale financial assets to financial assets at fair value through profit and loss in the 2019 annual report[74]. - Deferred tax liabilities were charged on the effect of fair value changes related to the reclassification of financial assets[74]. Future Outlook and Strategy - The Group intends to leverage existing networks, industry exhibitions, and advertisements to discover new business opportunities[194]. - The Group plans to explore new business opportunities in car park flooring markets outside Hong Kong, particularly in Macau and China[194]. - Yi Hua Holdings aims to enhance brand equity and product offerings while exploring suitable locations in the Greater Bay Area for expansion[179].

Financial Performance - For the year ended March 31, 2019, UBA Investments Limited recorded a loss attributable to owners of approximately HK$23.3 million, compared to a loss of HK$21.5 million in 2018, with a loss per share of HK$0.0210[9]. - The Group reported a net loss attributable to owners of the Company of HK$23,282,000 for the year ended March 31, 2019, compared to a loss of HK$21,492,000 in the previous year[152]. - The Group's net assets increased by 8% to approximately HK$157.9 million as of March 31, 2019, up from HK$146.4 million in 2018, primarily due to a fundraising activity that raised HK$16.7 million[9]. - Total assets increased to HK$158,933,000 as of March 31, 2019, up from HK$148,536,000 in the prior year, representing a growth of approximately 8.5%[153]. - The Company has reserves available for distribution amounting to approximately HK$95,455,000 as of March 31, 2019, compared to HK$83,404,000 in 2018, indicating an increase of about 14.5%[155]. Investment Strategy - The Group's proactive investment strategy focused on high-yield and stable sectors, contributing approximately HK$2.8 million in dividends from listed securities and HK$1.67 million from unlisted shares[10]. - The Group plans to invest in more unlisted equity securities with good potential, maintaining a cautious and pragmatic investment approach[27]. - The Group maintains a cautious and pragmatic investment strategy, focusing on optimizing its investment portfolio amid global market challenges[29]. - The Company aims for medium-term capital growth through investments, with no current intention to realize investments within a specific timeframe[167]. - The Company aims to invest in various sectors, including information technology, telecommunications, and infrastructure, to balance exposure and minimize sector-specific risks[158]. Market Conditions - The global and local equity markets experienced intense volatility, with significant differences in trends between the U.S., China, and Hong Kong during 2018, which began to converge in early 2019[15]. - The Dow Jones Index decreased by 15% to a low of 22,874 at the end of December 2018, reflecting the negative impact of the trade war[19]. - The Shanghai Composite Index dropped 23% from 3,168 at the end of March 2018 to a low of 2,440 on January 4, 2019, due to trade war tensions[20]. - The HSI decreased by 14% from 30,093 in March 2018 to 25,753 at the end of December 2018, impacted by the trade war and rising interest rates[25]. - The HSI increased by 13% from 25,753 to 29,051 at the end of March 2019, as market sentiment improved following a cease-fire in the trade war[25]. Shareholder Information - The Board resolved not to recommend any payment of final dividend for the year[89]. - The Board has resolved not to recommend a payment of final dividend for the year[145]. - As of March 31, 2019, Andrew Cheng Wai Lun holds 340,000,000 shares, representing 26.74% of the issued share capital of the Company[192]. - Kingswell Holdings Group Limited owns 192,000,000 shares, accounting for 15.10% of the issued share capital[197]. - The Company did not enter into any arrangements allowing directors or chief executives to acquire benefits through share purchases during the year ended March 31, 2019[193]. Corporate Governance - The Company has maintained appropriate directors and officers liability insurance for legal actions against its directors[177]. - The Company is committed to compliance with all relevant laws and regulations in Hong Kong[176]. - The Company has not disclosed any new product developments or market expansions in the provided documents[128]. - The Company has a commitment to environmental protection and compliance with environmental laws[182]. - The Company values the knowledge and skills of its employees and provides career development opportunities[183]. Financial Position - The Group's placing completed on January 4, 2019, generated net proceeds of approximately HK$16.7 million, strengthening its financial position for future investment opportunities[14]. - As of March 31, 2019, the Group had bank balances and cash of approximately HK$25,713,000, indicating sufficient financial resources for commitments and working capital[87]. - The Group's gearing ratio was nil as there was no debt as of March 31, 2019[88]. - The total liabilities of the Group decreased to HK$1,034,000 as of March 31, 2019, down from HK$2,171,000 in the previous year, reflecting a reduction of approximately 52.4%[153]. - The Group had no material capital commitments or contingent liabilities as of March 31, 2019[95]. Investment Holdings - The Group's investment in CK Hutchison Holdings consists of 40,000 shares, representing 0.001% of its issued share capital, yielding a dividend income of approximately HK$117,000 for the year ended March 31, 2019[36]. - The Group's investment in PCCW includes steady growth in Telecommunications Services and Mobile Services revenue, contributing to an overall revenue increase of 6%[40]. - The Group's top ten listed investments accounted for approximately 58.56% of total assets as of March 31, 2019[33]. - The Group's investment in Yi Hua Holdings Limited represented 12.54% of total assets, with a fair value of HK$19,934,000 as of March 31, 2019[33]. - The Group holds significant listed and unlisted investments, with the top ten investments representing a substantial portion of the Group's net assets[30].