香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚賴該等內 容而引致的任何損失承擔任何責任。 LING YUI HOLDINGS LIMITED 凌 控股有限公 司 （於開曼群島註冊成立的有限公司） （股份代號：784） 截至二零二五年三月三十一日止年度 之全年業績公告 財務摘要 1 • 收益由截至二零二四年三月三十一日止年度約194.0百萬港元增加約10.5%至截至二零二五年 三月三十一日止年度約214.5百萬港元。 • 截至二零二五年三月三十一日止年度的毛利約31.0百萬港元，而截至二零二四年三月三十一 日止年度的毛利約為28.6百萬港元。 • 毛利率由截至二零二四年三月三十一日止年度約14.8%下降至截至二零二五年三月三十一日 止年度的毛利率約14.4%。 • 截至二零二五年三月三十一日止年度的本公司擁有人應佔虧損約為20.5百萬港元，而截至二 零二四年三月三十一日止年度的本公司擁有人應佔溢利約為0.7百萬港元。 • 截至二零二五年三月三十一日止年度的每股基本虧損約為2.57港仙，而截至二 ...

Financial Performance - Revenue for the six months ended September 30, 2024, was HKD 120,588,000, representing an increase of 8% compared to HKD 110,864,000 for the same period in 2023[9] - Gross profit for the same period was HKD 15,247,000, up from HKD 13,765,000, indicating a growth of approximately 10.7%[9] - The company reported a profit before tax of HKD 1,546,000, a significant recovery from a loss of HKD 1,573,000 in the previous year[9] - Basic and diluted earnings per share for the period were HKD 0.19, compared to a loss per share of HKD 0.20 in the prior year[9] - The company recorded a net profit of approximately HKD 1.5 million for the six months ended September 30, 2024, compared to a net loss of approximately HKD 1.6 million for the same period in 2023, attributed to increased revenue and controlled administrative expenses[72] - Revenue increased by approximately 8.8% from about HKD 110.9 million for the six months ended September 30, 2023, to about HKD 120.6 million for the same period in 2024, driven by additional claims from completed projects[74] - Direct costs rose by approximately 8.5% to about HKD 105.3 million for the six months ended September 30, 2024, compared to about HKD 97.1 million for the same period in 2023, consistent with revenue growth[77] - Gross profit was approximately HKD 15.2 million for the six months ended September 30, 2024, with a gross margin of about 12.6%, slightly up from a gross margin of about 12.4% in the same period of 2023[78] Assets and Liabilities - Total assets as of September 30, 2024, were HKD 119,919,000, an increase from HKD 96,673,000 as of March 31, 2024[11] - Net current assets improved to HKD 48,190,000 from HKD 37,939,000, reflecting a positive trend in liquidity[11] - The company's total equity increased to HKD 78,994,000 from HKD 77,448,000, showing a growth of approximately 2%[11] - Trade receivables increased significantly to HKD 46,378,000 as of September 30, 2024, compared to HKD 19,954,000 as of March 31, 2024, showing a growth of approximately 132.5%[52] - Bank borrowings rose to HKD 31,283,000 as of September 30, 2024, up from HKD 22,168,000 as of March 31, 2024, representing an increase of about 41.1%[61] - The company's debt-to-equity ratio was approximately 99.7% as of September 30, 2024, compared to about 82.0% as of March 31, 2024[84] Cash Flow - The net cash used in operating activities for the six months ended September 30, 2024, was (23,707) thousand HKD, compared to (187) thousand HKD in 2023, indicating a significant increase in cash outflow[17] - The net cash used in investing activities was (100) thousand HKD for the current period, a decrease from (1,821) thousand HKD in the previous year, reflecting reduced capital expenditures[17] - The net cash generated from financing activities was 6,297 thousand HKD, a turnaround from (2,784) thousand HKD in the same period last year, showing improved financing conditions[17] - The total cash and cash equivalents decreased by 17,510 thousand HKD, compared to a decrease of 4,792 thousand HKD in the previous year, indicating a larger cash outflow[17] - The company’s cash balance at the end of the period was 12,343 thousand HKD, up from 7,844 thousand HKD at the end of the previous year[17] Expenses and Cost Management - Administrative expenses decreased to HKD 13,948,000 from HKD 15,557,000, indicating improved cost management[9] - Total employee costs decreased to HKD 18,564,000 from HKD 23,904,000 year-on-year, reflecting a reduction of approximately 22.5%[47] - Administrative expenses decreased by approximately 10.9% to about HKD 13.9 million for the six months ended September 30, 2024, down from about HKD 15.6 million in the same period in 2023, mainly due to reduced employee costs[79] Shareholder Information - The company did not recommend an interim dividend for the six months ended September 30, 2024, consistent with the previous year[43] - As of September 30, 2024, Mr. Ling Zhi-hui holds 331,220,000 shares, representing approximately 41.40% of the company's equity[98] - Simple Joy Investments and Mr. Li Jianming each hold 202,910,000 shares, accounting for approximately 25.36% of the company's equity[101] - Following a mandatory unconditional cash offer, Reach Goal and associated parties hold interests in 534,130,000 shares, approximately 66.77% of the total issued shares[108] Corporate Governance - The company is committed to maintaining high standards of corporate governance, which is essential for gaining and maintaining stakeholder trust[121] - The company has established an audit committee consisting of independent non-executive directors to oversee financial reporting and internal control systems[122] - The audit committee has reviewed the unaudited condensed consolidated financial statements for the six months ended September 30, 2024, confirming compliance with applicable accounting standards and listing rules[124] Future Outlook - The company aims to maintain prudent financial management in project selection and cost control amid a challenging business environment influenced by high interest rates[73] - The company has not yet applied new accounting standards that are expected to come into effect in the future, indicating a potential impact on financial reporting[27] - The company has no significant investments, acquisitions, or capital asset plans as of September 30, 2024[84] Miscellaneous - The company has not disclosed any new product or technology developments in the provided content[96] - The company has not received any information regarding new business opportunities that may compete with its existing and future businesses from any controlling shareholders during the six months ended September 30, 2024[114] - The stock option plan allows for a total of 80,000,000 shares to be granted as of April 1, 2024, and September 30, 2024[120] - There were no stock options granted, exercised, expired, or canceled during the six months ended September 30, 2024, resulting in no shares issued under the stock option plan[120] - The company has entered into a non-competition agreement with its controlling shareholders to prevent any future competition[111] - The interim report for the six months ending September 30, 2024, will be published on the Hong Kong Stock Exchange and the company's website in December 2024[127] - The board is not aware of any significant matters from September 30, 2024, to the date of this interim report[126] - The board members include executive directors and independent non-executive directors, ensuring a diverse governance structure[128]

Financial Performance - Revenue for the six months ended September 30, 2024, was HKD 120,588,000, an increase of 8.0% compared to HKD 110,864,000 for the same period in 2023[2] - Gross profit for the same period was HKD 15,247,000, up from HKD 13,765,000, reflecting a gross margin improvement[2] - The company reported a profit before tax of HKD 1,546,000, compared to a loss of HKD 1,573,000 in the previous year[4] - The company reported a net profit attributable to shareholders of HKD 1,536,000 for the six months ended September 30, 2024, compared to a loss of HKD 1,573,000 in the same period of 2023[39] - The basic and diluted earnings per share for the period were HKD 0.19, compared to a loss per share of HKD 0.20 in the previous year[4] - Revenue increased by approximately 8.8% from about HKD 110.9 million for the six months ended September 30, 2023, to about HKD 120.6 million for the six months ended September 30, 2024, driven by additional claims from completed projects[64] - The company recorded a net profit of approximately HKD 1.5 million for the six months ended September 30, 2024, compared to a net loss of approximately HKD 1.6 million for the same period in 2023, attributed to increased revenue and controlled administrative expenses[62] Assets and Liabilities - Total assets as of September 30, 2024, were HKD 119,919,000, compared to HKD 96,673,000 as of March 31, 2024, showing growth in asset base[6] - Trade receivables increased significantly to HKD 46,378,000 from HKD 19,954,000, indicating improved sales performance[6] - Trade payables amounted to HKD 22,858 thousand as of September 30, 2024, compared to HKD 15,519 thousand as of March 31, 2024, reflecting an increase in obligations[46] - The company’s net cash position decreased to HKD 12,343,000 from HKD 29,853,000, indicating a reduction in liquidity[6] - The group had cash and bank balances of approximately HKD 12.3 million as of September 30, 2024, down from approximately HKD 29.9 million as of March 31, 2024, indicating a decrease in liquidity[71] - The group's total debt as of September 30, 2024, was approximately HKD 78.8 million, up from approximately HKD 63.5 million as of March 31, 2024, resulting in a capital debt ratio of approximately 99.7%[73] Expenses and Cost Management - Administrative expenses decreased to HKD 13,948,000 from HKD 15,557,000, contributing to improved profitability[2] - Total employee costs amounted to HKD 18,564,000 for the six months ended September 30, 2024, down from HKD 23,904,000 in the same period of 2023, representing a decrease of approximately 22.4%[33] - Employee costs for the six months ending September 30, 2024, totaled approximately HKD 18.6 million, down from approximately HKD 23.9 million in the same period of 2023, reflecting a reduction in workforce from 88 to 67 full-time employees[81] - Administrative expenses for the same period decreased by approximately 10.9% to about HKD 13.9 million from approximately HKD 15.6 million, primarily due to a reduction in employee costs of about HKD 1.2 million[68] Shareholder Information - The company did not recommend an interim dividend for the six months ended September 30, 2024, consistent with the previous year[36] - As of September 30, 2024, Mr. Li Jianming holds 202,910,000 shares, representing a 25.36% equity interest in the company[87] - Reach Goal holds 331,220,000 shares, accounting for 41.40% of the company's equity[87] - Simply Marvel Limited, owned by Mr. Chen Shaohong, has 57,090,000 shares, which is 7.14% of the total equity[87] - The board does not recommend the payment of an interim dividend for the six months ending September 30, 2024, consistent with the previous year[82] Corporate Governance - The company has adopted sound corporate governance principles to maintain trust among shareholders and stakeholders[100] - The board of directors includes both executive and independent non-executive members, ensuring a diverse governance structure[109] - The audit committee, established on December 4, 2017, has reviewed the unaudited condensed consolidated financial statements for the six months ending September 30, 2024, ensuring compliance with applicable accounting standards[103] Future Outlook and Strategy - The company plans to maintain prudent financial management in project selection and cost control amid a challenging business environment influenced by high interest rates[63] - The company aims to enhance its financial resources and qualifications to position itself as a suitable bidder for private sector projects, investing in human resources and information systems to improve operational efficiency[63] - The group continues to manage its cash reserves prudently to ensure the ability to capitalize on future growth opportunities[77] Accounting and Compliance - The company is currently evaluating the potential impact of new accounting standards that are not yet effective, with no expected impact on financial performance at this stage[23] - The company has not established a foreign currency hedging policy, as it does not face significant foreign exchange risk due to all revenue-generating activities and bank borrowings being denominated in HKD[75]

Financial Performance - The group recorded total revenue of approximately HKD 194.0 million for the year ended March 31, 2024, a decrease of about 18.8% compared to HKD 239.0 million for the year ended March 31, 2023[8]. - The revenue decline was primarily due to the economic recession in the construction industry and a strategic focus on clients with a good track record of receivables to improve credit control[12]. - The group's revenue decreased by approximately 18.8% from about HKD 239.0 million for the year ended March 31, 2023, to about HKD 194.0 million for the year ended March 31, 2024, primarily due to the economic downturn in the construction industry[19]. - Direct costs for the year ended March 31, 2024, were approximately HKD 165.4 million, a reduction of about 32.6% from approximately HKD 245.5 million for the year ended March 31, 2023[20]. - The group recorded a gross profit of approximately HKD 28.6 million for the year ended March 31, 2024, compared to a gross loss of approximately HKD 6.6 million for the year ended March 31, 2023, resulting in a gross profit margin of 14.8%[21]. - Other income decreased from approximately HKD 2.9 million for the year ended March 31, 2023, to about HKD 1.4 million for the year ended March 31, 2024, mainly due to the absence of government subsidies received in the previous year[22]. - The group's net profit for the year ended March 31, 2024, was approximately HKD 0.7 million, a significant improvement from a net loss of approximately HKD 30.0 million in the same period of 2023[25]. - As of March 31, 2024, the group's bank balance was approximately HKD 29.9 million, compared to HKD 12.6 million as of March 31, 2023[28]. - The group's total debt as of March 31, 2024, was approximately HKD 63.5 million, down from HKD 102.4 million as of March 31, 2023[28]. - The capital debt ratio as of March 31, 2024, was approximately 82.0%, a decrease from 133.3% as of March 31, 2023[30]. - The total employee cost for the year ended March 31, 2024, was approximately HKD 40.8 million, down from HKD 54.1 million in the previous year[39]. - The board of directors did not recommend any final dividend for the year ended March 31, 2024, consistent with the previous year[40]. Strategic Focus and Management - The board anticipates continued challenges in the industry due to high interest rates, which are expected to slow the private property market in Hong Kong and negatively impact the construction sector[9]. - The company plans to maintain prudent financial management in project selection and cost control while enhancing its financial resources to position itself as a suitable contractor for private projects[13]. - The company has established a project team targeting well-known clients with a substantial number of construction projects, aiming for satisfactory results in the public foundation sector[9]. - The board believes that the company's listing on the Hong Kong Stock Exchange enhances its image in the industry and will contribute to greater value for shareholders and investors[9]. - The company will continue to invest in human resources and information systems to improve operational capabilities and efficiency[13]. - The business faces significant risks, including reliance on a limited number of clients for non-recurring contracts, which could adversely affect operations and financial performance[17]. - The company is focused on enhancing its operational efficiency and expanding its market presence through strategic management and oversight[45]. - The company continues to explore opportunities for market expansion and potential mergers and acquisitions to enhance its competitive position[45]. Corporate Governance and Compliance - The company has complied with relevant laws and regulations without any significant violations during the fiscal year[14]. - The board is responsible for the environmental, social, and governance (ESG) strategy and reporting, ensuring compliance with ESG risk management and internal control systems[15]. - The board emphasized the importance of corporate governance, fully complying with the latest regulations as of March 31, 2024[60]. - The company has adopted an anti-corruption policy since April 2017, reinforcing its commitment to ethical practices[60]. - The board consists of a majority of independent non-executive directors, exceeding the requirement of at least one-third as per listing rules[77]. - All independent non-executive directors have confirmed their independence annually, meeting the standards set out in listing rules[79]. - The company has established a nomination committee chaired by the board chairman, with a majority of independent non-executive directors[67]. - The company provides sufficient resources for all board committees to fulfill their responsibilities and seek independent professional advice when necessary[86]. - The audit committee held three meetings during the fiscal year ending March 31, 2024, to review the company's 2023 annual performance and mid-term results[91]. - The audit committee concluded that the consolidated financial statements for the fiscal year ending March 31, 2024, comply with applicable accounting standards and listing rules[91]. - The company has established three board committees: the Remuneration Committee, the Nomination Committee, and the Audit Committee, each with a clear written scope of authority[84]. Environmental, Social, and Governance (ESG) Initiatives - The environmental, social, and governance (ESG) report reflects the company's performance in sustainability initiatives from April 1, 2023, to March 31, 2024[128]. - The company has identified key environmental, social, and governance issues and performance indicators relevant to its operations[129]. - The board is responsible for overseeing risk management related to environmental, social, and governance matters[130]. - The company engages with stakeholders to gather feedback and improve its ESG performance[132]. - The company has implemented internal strategies to minimize its adverse environmental impact and create sustainable value for stakeholders[130]. - The company has established a dedicated team to manage ESG issues across its business sectors[130]. - The company regularly reviews and adjusts its sustainability policies to meet the evolving needs of stakeholders[130]. - The company ensures that its ESG report is prepared in accordance with the guidelines set by the Hong Kong Stock Exchange[127]. - The company identified 17 key environmental, social, and governance (ESG) issues, with a focus on quality management, customer service, and occupational health and safety[135]. - The company is committed to reducing greenhouse gas emissions through various environmental policies and measures, promoting energy-saving practices in its operations[138]. - The company has established procedures to manage emissions from construction sites, including air pollutants, noise, waste, and wastewater, ensuring compliance with environmental regulations[140]. - The company has implemented a noise management strategy using effective soundproofing equipment and has obtained necessary permits for construction noise[140]. - The company has identified significant climate-related risks, including extreme weather events and regulatory changes, and has developed emergency plans and monitoring systems to address these risks[138]. - The company reported no significant violations of environmental laws and regulations during the reporting period[142]. - The company aims to enhance its ESG performance by adopting policies and guidelines to manage key issues identified by stakeholders[137]. - The company is focused on promoting sustainable practices within its supply chain to reduce overall emissions[138]. - The company has a commitment to community investment and charitable activities as part of its social responsibility initiatives[135]. - The company is actively monitoring changes in environmental laws and regulations to ensure compliance and mitigate potential legal risks[138]. Employee Management and Development - The employee gender ratio for 2024 is approximately 5.5:1, compared to 6.8:1 in 2023[171]. - The total employee turnover rate for 2024 is 161.2%, up from 80.3% in 2023[172]. - The injury rate per 100 employees for 2024 is 2.35, an increase from 0.85 in 2023[179]. - The total number of workplace injuries reported in 2024 is 2, compared to 1 in 2023[179]. - The total number of lost days due to workplace injuries in 2024 is 8,163, significantly higher than 4,443 in 2023[179]. - The company has implemented a comprehensive human resources management policy to support employee functions, including recruitment and training[169]. - The company strictly adheres to local employment laws and regulations, ensuring no child or forced labor is employed[169]. - All employees receive formal onboarding training on their first day to familiarize them with company policies[171]. - The company has established a risk assessment plan to manage health and safety risks in daily operations[175]. - The company encourages employees to participate in professional training programs to maintain high professional standards[179]. - The percentage of employees receiving training in 2024 was 34%, compared to 52% in 2023[180]. - The average training hours for senior management in 2024 was 1.3 hours, while for general employees it was 0.6 hours[182]. - The average training hours for female employees in 2024 was 0.4 hours[182]. - The company has not faced any confirmed complaints regarding the quality of its products and services during the reporting period[189]. Sustainability and Environmental Impact - Nitrogen oxides emissions decreased from 1.935 tons in 2023 to 1.207 tons in 2024, representing a reduction of approximately 37.5%[144]. - Total greenhouse gas emissions dropped from 356.42 tons in 2023 to 246.13 tons in 2024, a decrease of about 30.9%[151]. - Direct emissions (Scope 1) reduced from 211.51 tons in 2023 to 156.48 tons in 2024, a decline of approximately 26%[151]. - Total water consumption decreased from 2,544 cubic meters in 2023 to 1,449 cubic meters in 2024, a reduction of about 43%[160]. - Total energy consumption fell from 1,110,560 kWh in 2023 to 785,203 kWh in 2024, a decrease of approximately 29.3%[161]. - The density of total greenhouse gas emissions per project increased slightly from 23.76 tons in 2023 to 24.61 tons in 2024[151]. - The amount of inert construction and demolition waste increased significantly from 46,148 tons in 2023 to 94,023 tons in 2024, an increase of about 103.5%[153]. - The company aims to maintain greenhouse gas emissions levels based on the density from the fiscal year 2022 over the next five years[151]. - The company has established an environmental management system and received ISO14001 and ISO9001 certifications to support sustainable development[164]. - The company continues to implement measures to reduce, reuse, and recycle construction waste materials[154]. - The total amount of harmless waste increased from 46,208 tons in 2023 to 94,126 tons in 2024, an increase of approximately 103.88%[197]. - The density of total harmless waste per project increased from 3,081 tons in 2023 to 9,413 tons in 2024, an increase of about 205.56%[197]. - The total number of employees decreased from 117 in 2023 to 85 in 2024, a reduction of approximately 27.36%[200].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚賴該等內 容而引致的任何損失承擔任何責任。 LING YUI HOLDINGS LIMITED 凌 控股有限公 司 （於開曼群島註冊成立的有限公司） （股份代號：784） 截至二零二四年三月三十一日止年度 之全年業績公告 財務摘要 1 • 收益由截至二零二三年三月三十一日止年度約239.0百萬港元減少約18.8%至截至二零二四年 三月三十一日止年度約194.0百萬港元。 • 截至二零二四年三月三十一日止年度的毛利約28.6百萬港元，而截至二零二三年三月三十一 日止年度的毛損約為6.6百萬港元。 • 毛損率由截至二零二三年三月三十一日止年度約2.8%下降至截至二零二四年三月三十一日止 年度的毛利率約14.8%。 • 截至二零二四年三月三十一日止年度的本公司擁有人應佔溢利約為0.7百萬港元，而截至二零 二三年三月三十一日止年度的本公司擁有人應佔虧損約為30.0百萬港元。 • 截至二零二四年三月三十一日止年度的每股基本盈利約為0.08港仙，而截至二零二 ...

Financial Performance - Revenue for the six months ended September 30, 2023, was HKD 110,864,000, a decrease of 12.6% compared to HKD 126,715,000 in the same period of 2022[7] - The company reported a loss before tax of HKD 1,573,000, compared to a profit of HKD 1,059,000 in the previous year[7] - The group reported a revenue of approximately HKD 75 million for the six months ended September 30, 2023, compared to HKD 2,409 million for the same period in 2022, indicating a significant decrease in revenue[24] - The group recorded a pre-tax loss of HKD 23,904 thousand for the six months ended September 30, 2023, compared to HKD 26,502 thousand in the same period of 2022, reflecting a decrease in employee costs[27] - The group recorded a net loss of approximately HKD 1.6 million for the six months ended September 30, 2023, compared to a net profit of approximately HKD 1.0 million for the same period in 2022[59] Assets and Liabilities - Total assets as of September 30, 2023, were HKD 134,747,000, slightly down from HKD 135,187,000 as of March 31, 2023[9] - Current liabilities increased to HKD 103,243,000 from HKD 98,888,000, indicating a rise in short-term financial obligations[9] - Cash and cash equivalents decreased to HKD 7,844,000 from HKD 12,636,000, reflecting a net decrease of HKD 4,792,000 during the period[11] - The company’s net asset value as of September 30, 2023, was HKD 75,220,000, down from HKD 76,793,000 at the end of the previous reporting period[9] - As of September 30, 2023, the group's total debt was approximately HKD 109.6 million, an increase from approximately HKD 102.4 million as of March 31, 2023[62] Expenses - Administrative expenses rose to HKD 15,557,000, compared to HKD 13,558,000 in the same period last year, indicating increased operational costs[7] - Financing costs increased to HKD 949 thousand for the six months ended September 30, 2023, up from HKD 723 thousand in the same period of 2022, primarily due to higher lease liabilities and bank borrowings[25] - The total employee costs for the six months ended September 30, 2023, were HKD 23,904 thousand, a decrease from HKD 26,502 thousand in the same period of 2022[27] - The company’s management noted that the increase in employee salaries and warehouse rental expenses were significant factors contributing to the net loss[51] Shareholder Information - As of September 30, 2023, Mr. Ling Zhi-hui holds 130,000,000 shares, representing approximately 16.25% of the company's equity[77] - Mr. Li Jianming owns 402,910,000 shares, accounting for approximately 50.36% of the company's equity[80] - Mr. Chen Shaohong holds 57,090,000 shares, which is approximately 7.14% of the company's equity[80] - Ms. Yang Wanwen, as the spouse of Mr. Li Jianming, is deemed to hold the same number of shares, totaling 402,910,000 shares[81] Corporate Governance - The company has adopted a standard code of conduct for directors' securities transactions, with full compliance reported for the six months ending September 30, 2023[89] - The company is committed to maintaining high standards of corporate governance, aligning with the corporate governance code as of September 30, 2023[95] - The company has established a robust internal control and risk management system, which is regularly reviewed by management[95] Future Outlook - The company has not provided specific guidance for future performance but continues to focus on its core foundation engineering services in Hong Kong[13] - The board of directors did not recommend the payment of an interim dividend for the six months ended September 30, 2023, consistent with the previous year[30] Other Information - The company did not acquire any property, plant, or equipment during the six months ended September 30, 2023, compared to approximately HKD 25,000 in the same period in 2022[34] - The company did not receive any subsidies or grants from the Hong Kong government during the reporting period, contributing to the net loss[51] - The group did not recognize any government grants during the six months ended September 30, 2023, compared to HKD 2,160 thousand in the same period of 2022[24] - The company has not identified any significant matters from September 30, 2023, to the date of the interim report[100]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚賴該等內 容而引致的任何損失承擔任何責任。 LING YUI HOLDINGS LIMITED 凌 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：784） 截至二零二三年九月三十日止六個月 之未經審核中期業績公告 凌 控股有限公司（「本公司」）董事（「董事」）會（「董事會」）呈列本公司及其附屬公司（統稱為（「本集 團」）截至二零二三年九月三十日止六個月的未經審核中期業績，連同二零二二年同期的比較數字如 下： 未經審核簡明綜合損益及其他全面收益表 截至二零二三年九月三十日止六個月 截至九月三十日止六個月 二零二三年 二零二二年 附註 千港元 千港元 （未經審核） （未經審核） ...

Financial Performance - The total revenue for the fiscal year ending March 31, 2023, was approximately HKD 239.0 million, a decrease of about 30.6% from HKD 344.3 million for the previous fiscal year[10]. - The decrease in revenue was primarily due to the selection of clients with a good track record of receivables to improve credit control in response to the challenging business environment caused by the COVID-19 pandemic[14]. - The group recorded a net loss of approximately HKD 30.0 million for the year ended March 31, 2023, compared to a net profit of approximately HKD 2.2 million for the same period in 2022[27]. - Direct costs for the year ended March 31, 2023, were approximately HKD 245.5 million, a decrease of about 23.2% from approximately HKD 319.5 million for the year ended March 31, 2022[22]. - Other income increased from approximately HKD 2.6 million for the year ended March 31, 2022, to approximately HKD 2.9 million for the year ended March 31, 2023, mainly due to an increase in government subsidies under the employment support scheme[24]. - Administrative expenses rose by approximately 27.7% to about HKD 27.4 million for the year ended March 31, 2023, compared to approximately HKD 21.4 million for the year ended March 31, 2022, primarily due to increased provisions for employee bonuses amid a tight labor market in Hong Kong[25]. - The company's bank balance as of March 31, 2023, was approximately HKD 12.6 million, compared to approximately HKD 10.1 million as of March 31, 2022[30]. - The total debt as of March 31, 2023, was approximately HKD 102.4 million, down from approximately HKD 114.2 million as of March 31, 2022[30]. - The capital debt ratio as of March 31, 2023, was approximately 133.3%, compared to approximately 106.9% as of March 31, 2022[31]. - The total employee cost for the year ended March 31, 2023, was approximately HKD 54.1 million, down from approximately HKD 66.2 million for the year ended March 31, 2022, reflecting a reduction in the number of employees from 172 to 98[40]. - The board of directors did not recommend the payment of a final dividend for the year ended March 31, 2023[41]. Strategic Initiatives - The company anticipates continued intense price competition in the private foundation sector as competitors seek to attract new business for recovery[11]. - A project team has been established to target well-known clients with a substantial number of construction projects, indicating optimism for satisfactory performance in this business sector[11]. - The company plans to maintain prudent financial management in project selection and cost control while enhancing its financial resources for bidding on suitable private projects[15]. - The company aims to invest in human resources and information systems to improve operational capabilities and efficiency[15]. - The company anticipates a revenue growth of 10% for the upcoming fiscal year, driven by new project acquisitions and market expansion strategies[49]. - Investment in new technology and product development has increased by 25%, focusing on innovative construction solutions[50]. - The company is exploring potential mergers and acquisitions to enhance its market position, targeting a 5% increase in market share[51]. - A new strategic partnership has been established, expected to generate an additional $2 million in annual revenue[52]. - The company has successfully completed several high-profile projects, contributing to a 30% increase in brand recognition[46]. - Employee training programs have been enhanced, resulting in a 40% improvement in workforce productivity[47]. - The company plans to expand its operations into two new regions, aiming for a 15% increase in overall market reach[48]. Governance and Compliance - The board believes that compliance with relevant laws and regulations has been maintained without any significant violations during the fiscal year[16]. - The company has adopted the corporate governance code principles and has fully complied with the corporate governance code for the fiscal year ending March 31, 2023[58]. - The company has implemented an anti-corruption policy since April 2017 to prevent, detect, and report fraudulent activities[58]. - The board of directors is composed of a majority of independent non-executive directors, exceeding the minimum requirement of one-third as per listing rules[79]. - The company has established a whistleblowing policy to report confirmed cases to designated senior staff and the audit committee since 2017[60]. - The company has a shareholder communication policy to maintain effective and ongoing dialogue with shareholders[60]. - The financial operations, compliance, and strategic management are overseen by the Chief Financial Officer, who has approximately 10 years of experience in accounting, auditing, and financial management[55]. - The board is responsible for overseeing the company's overall strategy and business performance, including financial performance and risk management[76]. - The company has purchased liability insurance for its directors and senior management to cover potential legal liabilities arising from their duties[77]. - The nomination committee is chaired by the chairman of the board and consists mainly of independent non-executive directors[67]. - The company has established a commitment to employee development, workplace safety, and sustainability, which is essential for attracting and retaining talent[72]. - The independent non-executive directors play a crucial role in providing impartial opinions on the company's strategy and performance[81]. - The company has renewed service contracts for its executive directors and independent non-executive directors for a period of three years[82]. - The company held two meetings of the Remuneration Committee during the fiscal year ending March 31, 2023, to review the remuneration of directors and senior management, concluding that the compensation was fair and reasonable[91]. - The Nomination Committee conducted two meetings to review and recommend the re-election of directors, including the appointment of Mr. Ling and Mr. Li as executive directors[92]. - The Audit Committee held three meetings to review the company's annual performance for 2022, interim results, and the audit plan for the fiscal year ending March 31, 2023, ensuring compliance with applicable accounting standards and listing rules[93]. Environmental, Social, and Governance (ESG) Performance - The environmental, social, and governance (ESG) strategy and performance details are reported in the annual report[18]. - The company emphasizes transparency in its Environmental, Social, and Governance (ESG) report, detailing measures and performance in sustainability to enhance stakeholder confidence[132]. - The ESG report covers the period from April 1, 2022, to March 31, 2023, reflecting the company's performance in environmental management and social responsibility[134]. - The company has identified several key ESG issues and performance indicators after establishing a comprehensive data collection system[135]. - The board is responsible for ensuring the effectiveness of the company's ESG policies and overseeing risk management related to ESG matters[136]. - The company engages with stakeholders through various channels to gather feedback on significant environmental and social issues[138]. - A total of 17 major ESG issues were identified and assessed for their importance to the company's business and stakeholders[140]. - The company identified key issues such as occupational health and safety, labor practices, and waste management as critical areas for improvement in its environmental, social, and governance (ESG) performance[143]. - The company aims to reduce greenhouse gas emissions through various environmental policies and measures, focusing on operational emissions and engaging suppliers to lower supply chain emissions[144]. - In 2023, the company reported nitrogen oxide emissions of 1.935 tons, sulfur oxide emissions of 0.001 tons, and particulate matter emissions of 0.134 tons, maintaining stable levels compared to 2022[150]. - The company has implemented measures to enhance vehicle efficiency, including avoiding travel during peak hours and encouraging public transport use[150]. - The company has established a comprehensive data collection system to monitor greenhouse gas emissions and maintain optimal vehicle usage efficiency[153]. - Total greenhouse gas emissions increased from 265.03 tons in 2022 to 356.42 tons in 2023, representing a 34.5% increase[157]. - The density of greenhouse gas emissions per project rose from 16.56 tons in 2022 to 23.76 tons in 2023, a 43.5% increase[157]. - Total non-hazardous waste generated increased significantly from 18,924 tons in 2022 to 46,209 tons in 2023, marking a 143.5% increase[159]. - The density of non-hazardous waste per project rose from 1,183 tons in 2022 to 3,081 tons in 2023, an increase of 160.5%[159]. - Total water consumption decreased from 15,141 cubic meters in 2022 to 2,544 cubic meters in 2023, a reduction of 83.2%[165]. - Total energy consumption increased from 891,639 kWh in 2022 to 1,110,560 kWh in 2023, a rise of 24.6%[166]. - The density of total energy consumption per project increased from 55,727 kWh in 2022 to 74,037 kWh in 2023, a 32.8% increase[166]. Employee and Workplace Management - The company has implemented a risk assessment plan to manage health and safety risks in the workplace[180]. - The company reported zero fatal accidents during the reporting period, consistent with the previous year[182]. - The company continues to prioritize health and safety measures, including regular cleaning and adherence to safety guidelines[181]. - The company adheres to local employment laws and regulations, ensuring compliance with labor standards[175]. - The company has established a comprehensive training program to enhance employee skills and management capabilities[185]. - The percentage of employees receiving training was 85% for senior management, 52% overall, and 15% for female employees in 2023[185]. - The average training hours for male employees in 2023 was 1.6 hours, while female employees averaged 1.8 hours[188]. - The average training hours for employees decreased from 7 hours in 2022 to 6 hours in 2023[188]. - Employee injury rate was 0.85 per 100 employees in 2023, down from 1.16 in 2022[184]. - The number of workplace injuries reported was 1 in 2023, compared to 2 in 2022[184]. - Total employee turnover rate increased to 80.3% in 2023 from 61.6% in 2022[177]. - The company maintains a low employee turnover rate, with new hires and turnover percentages remaining relatively low[176]. - The company has implemented a quality management system certified by ISO9001 and ISO14001, ensuring high standards in project construction[197]. - The company conducts annual reviews of each subcontractor and supplier, ensuring compliance with regulatory requirements[193]. - The company has a systematic recruitment process to prevent illegal employment of child labor[190]. - The company emphasizes the importance of protecting intellectual property and consumer privacy, complying with relevant laws and regulations[196]. - The company has a whistleblowing procedure in place to report any misconduct, including corruption and fraud[198]. - The company has established a commitment to employee development, workplace safety, and sustainability, which is essential for attracting and retaining talent[72]. - The number of key suppliers in Hong Kong increased from 32 in 2022 to 50 in 2023, representing a 56.25% growth[195].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚賴該等內 容而引致的任何損失承擔任何責任。 LING YUI HOLDINGS LIMITED 凌 控 股 有 限 公司 （於開曼群島註冊成立的有限公司） （股份代號：784） 截至二零二三年三月三十一日止年度 之全年業績公告 財務摘要 • 收益由截至二零二二年三月三十一日止年度約344.3百萬港元減少約30.6％至截至二零二三年 三月三十一日止年度約239.0百萬港元。 • 截至二零二三年三月三十一日止年度的毛損約6.6百萬港元，而截至二零二二年三月三十一日 止年度的毛利約為24.8百萬港元。 • 毛利率由截至二零二二年三月三十一日止年度約7.2%下降至截至二零二三年三月三十一日止 ...

Financial Performance - Revenue for the six months ended September 30, 2022, was HKD 126,715, a decrease of 22.6% compared to HKD 163,698 for the same period in 2021[7] - Gross profit increased to HKD 13,033, up 3.3% from HKD 12,619 in the previous year[7] - The company reported a profit before tax of HKD 1,059, down 48.0% from HKD 2,037 in the prior year[7] - Total comprehensive income for the period was HKD 1,019, compared to HKD 1,497 in the same period last year, reflecting a decline of 31.9%[7] - Basic and diluted earnings per share were HKD 0.13, down from HKD 0.19 in the previous year, representing a decrease of 31.6%[7] - The company reported a current tax expense of HKD 40,000 for the six months ended September 30, 2022, significantly lower than HKD 540,000 for the same period in 2021, reflecting a decrease of approximately 92.6%[36] - The group recorded a net profit of approximately HKD 1.0 million for the six months ended September 30, 2022, down from approximately HKD 1.5 million in the same period of 2021, attributed to the economic downturn caused by sporadic COVID-19 outbreaks[62] Assets and Liabilities - Non-current assets amounted to HKD 48,656 as of September 30, 2022, compared to HKD 51,143 as of March 31, 2022[9] - Current assets totaled HKD 159,026, a decrease from HKD 169,920 as of March 31, 2022[9] - Current liabilities were HKD 88,549, down from HKD 110,724 in the previous period, indicating improved liquidity[9] - Total equity increased to HKD 107,851 from HKD 106,832 as of March 31, 2022, showing a slight growth in shareholder value[9] - The company's non-current assets located in Hong Kong were approximately HKD 48,359,000 as of September 30, 2022, a decrease from HKD 50,846,000 as of March 31, 2022[25] - Trade receivables as of September 30, 2022, totaled HKD 34,892,000, a decrease from HKD 53,873,000 as of March 31, 2022, indicating a reduction of about 35.2%[45] - The company's bank borrowings as of September 30, 2022, were HKD 30,470,000, an increase from HKD 24,385,000 as of March 31, 2022, representing an increase of approximately 25.5%[52] - The total amount of other payables and accrued expenses as of September 30, 2022, was HKD 26,677,000, slightly up from HKD 26,350,000 as of March 31, 2022, indicating a marginal increase of about 1.2%[50] - The group’s total debt was approximately HKD 99.8 million as of September 30, 2022, down from about HKD 114.2 million as of March 31, 2022[71] - The capital debt ratio was approximately 92.6% as of September 30, 2022, compared to about 106.9% as of March 31, 2022[72] Cash Flow - For the six months ended September 30, 2022, the net cash used in operating activities was HKD (5,132) thousand, a decrease from HKD 13,260 thousand in the same period of 2021[14] - The net cash used in investing activities was HKD (2,543) thousand, compared to HKD (6,221) thousand in the previous year, indicating a reduction in investment outflows[14] - Financing activities generated a net cash inflow of HKD 6,842 thousand, a significant improvement from the net cash outflow of HKD (12,518) thousand in the prior year[14] - The total cash and cash equivalents decreased by HKD 833 thousand, compared to a decrease of HKD 5,479 thousand in the same period of 2021[14] Revenue Sources - Revenue from major customers for the six months ended September 30, 2022, included HKD 70,149 thousand from Customer A and HKD 33,272 thousand from Customer B, down from HKD 88,643 thousand and HKD 39,465 thousand respectively in 2021[27] - Direct costs for the six months ended September 30, 2022, were approximately HKD 113.7 million, a decrease of about 24.8% from approximately HKD 151.1 million in the same period of 2021, consistent with the revenue decline[66] - Gross profit for the six months ended September 30, 2022, was approximately HKD 13.0 million, with a gross profit margin of about 10.3%, compared to a gross profit of approximately HKD 12.6 million and a margin of about 7.7% in the same period of 2021[67] Employee Costs - Total employee costs for the six months ended September 30, 2022, amounted to HKD 26,502,000, down from HKD 30,448,000 in the previous year, indicating a reduction of about 13.8%[40] - As of September 30, 2022, the total employee cost for the six months was approximately HKD 26.5 million, a decrease from HKD 30.4 million for the same period in 2021[82] - The company had 113 full-time employees in Hong Kong as of September 30, 2022, down from 172 employees as of March 31, 2022[82] - Administrative expenses increased by approximately 20.4% to about HKD 13.6 million for the six months ended September 30, 2022, primarily due to employee costs related to bonuses and salary increases[68] Corporate Governance - The company is committed to maintaining high standards of corporate governance, which it believes is essential for enhancing shareholder value and protecting the interests of stakeholders[106] - The company has established an audit committee to review financial information, internal controls, and risk management systems, ensuring transparency and accountability[108] - The audit committee has reviewed the unaudited condensed consolidated financial statements for the six months ended September 30, 2022, and believes they comply with applicable accounting standards and listing rules[108] Dividends and Shareholder Information - The company did not recommend an interim dividend for the six months ended September 30, 2022, consistent with no dividend declared for the same period in 2021[37] - The board of directors did not recommend the payment of an interim dividend for the six months ended September 30, 2022, consistent with the previous year[83] - As of September 30, 2022, major shareholders included Mr. Li Jianming with a 57.86% stake and Mr. Chen Shaohong with a 7.14% stake[91] Future Outlook - The company plans to focus on new product development and market expansion strategies to enhance future performance[7] - The company is currently evaluating the potential impact of new and revised Hong Kong Financial Reporting Standards on its financial performance and position[22] - There were no significant capital commitments related to the acquisition of property and equipment as of September 30, 2022[80] - The company did not report any significant acquisitions or expansions during the reporting period[84] - There have been no significant events affecting the company since September 30, 2022, up to the date of this report[109]