Financial Performance - The company reported a revenue of HKD 1,785.9 million for the six months ended September 30, 2021, representing a year-on-year increase of 5.8% from HKD 1,687.2 million[10]. - Gross profit increased by 24.8% to HKD 171.0 million, compared to HKD 137.1 million in the same period last year[10]. - Profit attributable to the company's owners surged by 94.4% to HKD 43.5 million, up from HKD 22.4 million in the previous year[10]. - Basic earnings per share rose to HKD 51.09, a 94.4% increase from HKD 26.28[10]. - Profit before tax increased to HKD 55,447 thousand, compared to HKD 25,136 thousand in the previous year, reflecting a significant growth of approximately 120.5%[94]. - Net profit for the period was HKD 43,534 thousand, which is a 94.5% increase from HKD 22,393 thousand in the prior year[94]. - The group reported a profit attributable to owners of the company of HKD 43,534 for the six months ended September 30, 2021, compared to HKD 22,393 for the same period in 2020, indicating a significant increase[133]. - For the six months ended September 30, 2021, the company reported a profit attributable to owners of HKD 43,534,000, compared to HKD 22,393,000 for the same period in 2020, representing an increase of 94.3%[144]. Revenue by Segment - The industrial segment generated HKD 553.7 million in revenue, accounting for 31.0% of total revenue, with a 13.0% increase year-on-year[16]. - The home appliance segment recorded revenue of HKD 352.5 million, representing an 11.0% increase from the previous year[16]. - The automotive electronics segment saw revenue growth of 19.4%, reaching HKD 350.8 million[16]. - The automotive electronics segment's revenue increased by 19.4% year-on-year to HKD 350.8 million in the first half of the 2022 fiscal year, driven by strong performance supported by the Chinese government's push for new energy vehicles[21]. - The audio-visual segment reported revenue of HKD 120.2 million, a growth of 6.9% compared to the same period last year, benefiting from the ongoing demand for home entertainment and remote work products[22]. - The distribution segment's revenue decreased by 4.0% year-on-year to HKD 118.9 million, impacted by semiconductor supply prioritization for key growth industries[25]. - The telecommunications segment's revenue fell by 8.8% to HKD 101.8 million, with a low growth outlook prompting the company to consider reallocating resources to other growth segments[26]. - The electronic manufacturing services segment experienced a significant decline of 39.4% in revenue to HKD 77.5 million, severely affected by supply imbalances for components to small and medium manufacturers[27]. - The lighting segment's revenue remained stable, slightly decreasing by 6.4% to HKD 60.9 million, benefiting from the recovery of economic activities[28]. - Other segments saw a revenue increase of 9.6% to HKD 49.5 million, attributed to a recovery in consumer spending compared to the previous year's lockdown[29]. Challenges and Opportunities - The company faced challenges due to global semiconductor supply shortages, impacting production timelines for many manufacturers[15]. - The company plans to leverage its strong supplier relationships to meet customer demand and capitalize on growth opportunities in the industrial and home appliance sectors[15][19]. - The company is positioned to benefit from government policies aimed at stimulating domestic consumption and promoting energy-efficient products[20]. - The company anticipates that the Chinese economy has significant growth potential despite current challenges, supported by government economic and business support policies[52]. Financial Position - As of September 30, 2021, the total borrowings and debt securities amounted to HKD 588,987 thousand, with secured borrowings at HKD 48,191 thousand and unsecured borrowings at HKD 540,796 thousand[46]. - The net asset liability ratio as of September 30, 2021, was 26.7%, a decrease from 39.6% as of March 31, 2021, primarily due to an increase in cash reserves and shareholder equity[51]. - The company has no contingent liabilities as of September 30, 2021, maintaining a stable financial position[57]. - The company’s total assets amounted to HKD 1,769,836,000, an increase from HKD 1,640,785,000 as of March 31, 2021, representing a growth of approximately 7.85%[96]. - Current assets totaled HKD 1,467,679,000, up from HKD 1,334,036,000, indicating an increase of about 10%[96]. - Cash and cash equivalents significantly rose to HKD 399,405,000 from HKD 216,923,000, reflecting an increase of approximately 84.3%[96]. - Current liabilities increased to HKD 1,018,105,000 from HKD 910,764,000, marking a rise of about 11.8%[99]. - The company's equity attributable to owners increased to HKD 708,172,000 from HKD 687,101,000, showing a growth of approximately 3.2%[99]. - The total liabilities and equity amounted to HKD 1,769,836,000, consistent with total assets, indicating a balanced financial position[99]. Cash Flow - The net cash generated from operating activities for the six months ended September 30, 2021, was HKD 69,961,000, compared to HKD 32,974,000 for the same period in 2020, representing a significant increase of 112%[106]. - The net cash used in investing activities was HKD (2,639,000), which included purchases of property, plant, and equipment amounting to HKD (2,714,000) for the six months ended September 30, 2021[106]. - The net cash generated from financing activities was HKD 114,165,000, compared to a net cash used of HKD (51,750,000) in the same period last year, indicating a turnaround in financing cash flow[106]. - The total cash and cash equivalents at the end of the period increased to HKD 399,405,000 from HKD 249,177,000 in the previous year, marking a growth of 60.3%[106]. - The company reported a significant increase in cash flow from operations, which does not include the discounting of customer notes receivable amounting to HKD 48,896,000[106]. Shareholder Information - As of September 30, 2021, the total issued shares of the company were 85,207,049[73]. - Ms. Cheng holds a total of 21,945,077 shares, representing approximately 25.76% of the company's equity[68]. - Max Power owns 19,909,813 shares, accounting for 23.37% of the total equity[68]. - Mr. Guo holds 8,722,509 shares, which is about 10.24% of the company's equity[68]. - The employee stock option plan III was adopted on July 30, 2013, and is set to expire on July 29, 2023[77]. - As of September 30, 2021, there were 4,507,000 unexercised stock options remaining from the employee stock option plan III[80]. - The exercise price for the stock options granted under the plan ranges from HKD 2.61 to HKD 3.91 per share[80]. - The company did not repurchase any of its listed securities during the six months ending September 30, 2021[82]. - No major shareholders or directors held any additional shares or interests that required disclosure under the Securities and Futures Ordinance as of September 30, 2021[73]. Governance and Compliance - The company has established an audit committee consisting of three independent non-executive directors to oversee financial reporting and compliance[88]. - The board is planning to review its composition to align with the Singapore Corporate Governance Code, particularly regarding the independence of the chairman[84]. - The company has adopted the Hong Kong Standard Code for securities trading by directors, ensuring compliance with established governance standards[87]. - The company’s financial statements were prepared in accordance with International Financial Reporting Standards, ensuring compliance and transparency in financial reporting[110]. Employee Information - The company employs 359 full-time employees as of September 30, 2021, with 32.9% in Hong Kong, 63.7% in China, and the remainder in Taiwan[56]. - Employee costs, excluding directors' remuneration, amounted to HKD 59,012,000, an increase from HKD 54,931,000 in the previous year, marking an increase of 7.4%[139]. - The short-term benefits for directors and key management personnel increased to HKD 8,830,000 from HKD 7,357,000 year-on-year, representing a growth of 20%[190]. - The total compensation for directors and key management personnel for the six months ended September 30, 2021, was HKD 9,566,000, an increase from HKD 8,058,000 in the previous year[190].

Financial Performance - Total revenue for the fiscal year ended March 31, 2021, was HKD 3,557.9 million, a decrease of 8.4% compared to HKD 3,883.6 million in the previous year[44]. - Shareholders' profit for the same period was HKD 92.5 million, a significant recovery from a loss of HKD 72.6 million in the previous year[44]. - Basic earnings per share increased to HKD 1.08, compared to a loss of HKD 0.71 in the previous year[45]. - For the fiscal year 2021, the company reported a net profit of HKD 92.5 million, reversing the loss from the previous fiscal year[53]. - Revenue increased by 12.1% year-on-year to HKD 3,557.9 million, driven by strong performance in industrial, home appliance, and automotive electronics segments[53]. - The automotive electronics segment achieved a remarkable year-on-year growth of 31.0%, reaching HKD 636.4 million, benefiting from increased electronic component content in vehicles[53]. - The industrial segment's revenue grew by 19.3% year-on-year to HKD 1,049.7 million, supported by higher demand for communication devices and electronic products[56]. - The home appliance segment saw a year-on-year increase of 3.0% in revenue, totaling HKD 662.8 million, due to rising consumer demand[56]. - The distribution segment experienced a year-on-year revenue decline of 8.6% due to supply chain challenges related to chip shortages[56]. - The telecommunications segment's revenue declined by 12.8% year-on-year to HKD 244.5 million, impacted by delays in the launch of 5G services[76]. - The audio-visual segment's revenue increased by 18.9% year-on-year to HKD 242.7 million, driven by heightened demand for electronic products during the pandemic[77]. - The electronic manufacturing services segment saw an 11.9% year-on-year revenue growth, reaching HKD 235.6 million, benefiting from China's recovery in business activities[78]. - The lighting segment's revenue grew by 19.2% year-on-year to HKD 136.0 million, supported by strong export orders following the pandemic recovery in China[79]. - Other segments experienced a revenue increase of 24.4% year-on-year, reaching HKD 88.6 million, due to high spending on electronic products during the pandemic[80]. - The group recorded a profit attributable to shareholders of HKD 92.5 million for the fiscal year 2021, a significant recovery from a loss of HKD 72.6 million in fiscal year 2020[66]. Assets and Liabilities - The company's total assets as of March 31, 2021, were HKD 3,557.9 million, down from HKD 4,556.4 million in 2019[29]. - The company reported a net asset liability of HKD 1,626.1 million, a decrease from HKD 2,083.1 million in 2020[33]. - The company’s total assets for the fiscal year 2021 were HKD 1,640.8 million, with total liabilities of HKD 953.7 million[48]. - Shareholders' equity increased to HKD 687.1 million in fiscal year 2021, compared to HKD 570.7 million in fiscal year 2020[48]. - The net asset to liability ratio improved to 39.6% as of March 31, 2021, down from 70.8% a year earlier, due to reduced loans and increased shareholder equity[57]. - The net asset liability ratio as of March 31, 2021, was 39.6%, a decrease from 70.8% as of March 31, 2020, due to reduced borrowings and increased equity[102]. Strategic Initiatives - The company plans to expand its logistics network in mainland China to enhance operational efficiency and customer service[2]. - New product development initiatives are underway, focusing on innovative electronic components to meet market demand[2]. - The company plans to allocate more resources to the automotive electronics segment to enhance collaboration with customers and expand applications[53]. - The company anticipates continued strong demand in sectors benefiting from China's economic recovery, including smart home appliances and energy-efficient consumer goods[58]. - The global semiconductor chip shortage is expected to persist until the second quarter of 2022, impacting manufacturing and production in various industries[59]. - The company will continue to manage resources prudently and focus on sustainable growth amid ongoing market volatility due to the pandemic[61]. - The group received non-recurring subsidies from the Hong Kong government's Employment Support Scheme and reductions in corporate social insurance fees from the Chinese government, contributing to its recovery[66]. Corporate Governance - The company has adopted the Singapore Corporate Governance Code 2018 and complies with the Hong Kong Listing Rules regarding corporate governance practices[124]. - The company plans to ensure that all three main board committees (Audit, Nomination, and Remuneration) are composed entirely of independent directors as an additional check on management[125]. - The company has acknowledged discrepancies in board composition with the Singapore Corporate Governance Code and is taking steps to address these issues[126]. - The company has a strong focus on internal control systems and risk management, led by the General Manager of Risk Management[117]. - The company is committed to maintaining transparency and accountability in its operations, aligning with the interests of shareholders[124]. - The board has established five committees to oversee specific areas, including audit, nomination, remuneration, employee share option plan, and compliance[133]. - The company has implemented a service agreement for executive directors with a term of up to three years[139]. - The company has arranged training for new directors to familiarize them with business operations and governance practices[137]. - The board's meetings included discussions on significant transactions, ensuring that directors with conflicts of interest abstain from voting[144]. - The company has a policy for appointing directors to fill temporary vacancies, ensuring compliance with the Hong Kong Corporate Governance Code[140]. - The company encourages all directors and senior management to participate in continuous professional development, with costs covered by the company[137]. - The board has received annual independence confirmations from all current independent non-executive directors, affirming their independence[131]. - The company has a structured succession planning process for board members to ensure compliance with governance codes[125]. Employee and Market Engagement - The group employed 361 full-time employees as of March 31, 2021, down from 377 the previous year, with 33.0% in Hong Kong and 63.6% in China[106]. - The company emphasizes the importance of stakeholder engagement, including employees, shareholders, customers, and suppliers, to address significant concerns in environmental, social, and governance performance[194]. - The company allows shareholders holding at least 10% of the paid-up capital to request a special general meeting, with proper notice to be issued if the request is valid[200]. Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 12% based on current market trends and user acquisition strategies[113]. - New product launches are expected to contribute an additional HKD 200 million in revenue, with a focus on innovative semiconductor solutions[113]. - The company is expanding its market presence in Southeast Asia, targeting a 25% increase in market share within the next two years[113]. - A strategic acquisition of a local competitor is anticipated to enhance the company's product offerings and customer base, expected to close by Q3 2021[113]. - Research and development expenditures increased by 30% to HKD 150 million, emphasizing the commitment to technological advancements[113]. - The company plans to implement a new marketing strategy aimed at increasing brand awareness, with a budget allocation of HKD 50 million for the upcoming year[113].

Financial Performance - For the six months ended September 30, 2020, the company reported revenue of HKD 1,687.2 million, a slight increase of 0.9% compared to HKD 1,672.4 million for the same period in 2019[17]. - Gross profit for the same period was HKD 137.1 million, representing a significant increase of 38.2% from HKD 99.2 million in the previous year[17]. - The company achieved a profit attributable to owners of HKD 22.4 million, a turnaround from a loss of HKD 55.8 million in the prior year[21]. - Basic earnings per share improved to HKD 26.28, compared to a loss per share of HKD 65.51 in the previous year[17]. - The company reported a profit before tax of HKD 25,136 thousand, a turnaround from a loss of HKD 55,558 thousand in the previous year[102]. - Net profit for the period was HKD 22,393 thousand, compared to a loss of HKD 55,820 thousand in 2019, marking a substantial recovery[102]. - Other income surged 186.7% to HKD 4.6 million, primarily from government subsidies under the employment support scheme[38]. - The company reported a net cash outflow of HKD 17,411,000 for the period, an improvement from a net outflow of HKD 63,125,000 in the previous year[116]. Revenue Breakdown - The industrial sector contributed HKD 489.9 million, accounting for 29.0% of total revenue, while the home appliance sector contributed HKD 317.5 million, or 18.8%[23]. - The automotive electronics segment generated HKD 293.7 million, representing 17.4% of total revenue[23]. - The industrial market segment generated revenue of HKD 489,882,000, up 7.4% from HKD 455,886,000 in the prior year[126]. - The automotive electronics segment saw a revenue increase of 18.5%, reaching HKD 293,724,000 compared to HKD 247,827,000 in the previous year[126]. - The home appliance segment generated revenue of HKD 317.5 million, up 4.2% compared to the same period last year, benefiting from government policies promoting energy-efficient appliances[26]. - The electronic manufacturing services segment recorded a 14.6% year-on-year increase in revenue to HKD 127.9 million, leveraging capacity to fulfill export orders[30]. - The distribution segment's revenue decreased by 24.6% to HKD 123.9 million due to an uncertain operating environment[31]. - The audio-visual segment's revenue fell 9.0% to HKD 112.4 million, but is expected to see steady demand as home entertainment needs rise[32]. - The telecommunications segment's revenue declined 32.7% to HKD 111.6 million, impacted by market saturation and delays in 5G service rollout[33]. - The lighting segment's revenue increased by 12.8% to HKD 65.1 million, benefiting from home quarantine orders during the pandemic[34]. Cost and Expenses - The cost of sales for the period was HKD 2,146,796,000, compared to HKD 2,022,725,000 in the previous year, indicating an increase in operational costs[132]. - The administrative expenses for the period were HKD 89,094,000, slightly lower than HKD 98,290,000 in the previous year, reflecting cost control measures[132]. - The company incurred financing costs of HKD 10,754,000, which is a decrease from HKD 19,310,000 in the previous year, suggesting improved financial management[132]. Assets and Liabilities - Total assets as of September 30, 2020, amounted to HKD 1,713,132 thousand, an increase from HKD 1,626,050 thousand as of March 31, 2020[104]. - Trade receivables increased to HKD 834,373 thousand from HKD 660,912 thousand, reflecting a growth of 26.1%[104]. - Current liabilities rose to HKD 1,074,412 thousand from HKD 1,020,218 thousand, indicating an increase of 5.3%[107]. - The company’s cash and cash equivalents decreased to HKD 249,177 thousand from HKD 264,839 thousand, a decline of 5.9%[104]. - The group’s trade payables as of September 30, 2020, totaled HKD 401,769,000, an increase from HKD 305,928,000 as of March 31, 2020[182]. Employee and Management - As of September 30, 2020, the group employed 369 full-time employees, a decrease from 377 on March 31, 2020, with 33.6% in Hong Kong and 63.0% in China[64]. - The group has implemented a talent recruitment and retention strategy, including regular training programs and performance-linked compensation[64]. - The group’s short-term benefits for directors and key management personnel for the six months ended September 30, 2020, were HKD 7,357,000, a decrease from HKD 8,099,000 in the previous year[196]. Corporate Governance - The company adhered to the corporate governance codes of Hong Kong and Singapore, confirming compliance with all provisions except for specific exceptions noted[91]. - The audit committee, composed entirely of independent non-executive directors, reviewed the unaudited interim results for the six months ending September 30, 2020[95]. - The company has implemented sufficient measures to ensure adequate corporate governance practices regarding the appointment, retirement, and re-election of directors[91]. - The board composition is noted to have sufficient diversity in skills, experience, and knowledge, despite some discrepancies with the Singapore corporate governance code[91]. Market Outlook - The company anticipates significant growth potential in the Chinese economy, despite challenges from the ongoing COVID-19 pandemic and deteriorating US-China relations[60]. - The company has focused on expanding its market presence in South China, North China, and Taiwan, with a strategic emphasis on electronic component trading[129]. - The company continues to explore new product development and market expansion strategies to enhance its competitive position in the electronic components industry[129].

Financial Performance - For the fiscal year ending March 31, 2020, the company reported a revenue of HKD 670.6 million, a decrease from HKD 716.1 million in the previous year, representing a decline of approximately 6.5%[28]. - The shareholders' profit (loss) for the same period was a loss of HKD 72.6 million, compared to a profit of HKD 37.5 million in the previous year, indicating a significant downturn[44]. - The total assets of the company as of March 31, 2020, were HKD 3,642.2 million, down from HKD 3,883.6 million in 2019, reflecting a decrease of about 6.2%[33]. - The company’s net asset value per share decreased to HKD 1,626.1 from HKD 2,083.1 in the previous year, a decline of approximately 21.9%[31]. - The company’s basic earnings per share for the fiscal year was a loss of HKD 22.36, compared to a profit of HKD 133.67 in the previous year, indicating a substantial decline in profitability[32]. - Revenue for the fiscal year ending March 31, 2020, decreased by 13.9% to HKD 3,175.3 million compared to the previous year[56]. - The company reported a loss attributable to shareholders of HKD 72.6 million for the fiscal year 2020[56]. - Gross profit for the fiscal year 2020 was HKD 206.2 million, down from HKD 327.5 million in 2019[53]. - The gross profit margin decreased from 8.9% in FY2019 to 6.5% in FY2020, attributed to weak demand and aggressive price competition[79]. - The company reported a significant increase in revenue for the fiscal year, with a year-over-year growth of 15%[113]. - The company reported a net profit margin of 12%, reflecting improved operational efficiency[113]. Revenue Breakdown - The revenue breakdown by industry application for the fiscal year ending March 31, 2020, showed that telecommunications accounted for 20%, followed by industrial at 15% and automotive electronics at 9%[38]. - The industrial segment remains the largest revenue source, contributing HKD 879.7 million in sales, a decrease of 10.2% year-on-year[69]. - The home appliance segment saw an 18.8% increase in revenue to HKD 643.6 million, driven by a focus on inverter applications and support for domestic demand[70]. - The automotive electronics segment's revenue increased by 8.4% year-on-year to HKD 485.7 million, supported by solutions for manufacturers to enhance vehicle performance[71]. - The distribution segment experienced a 19.7% decline in revenue to HKD 286.2 million, impacted by market uncertainties and weakened purchasing power due to currency depreciation[72]. - The telecommunications segment recorded the largest revenue decline of 59.0% year-on-year, down to HKD 280.2 million in FY2020[73]. - The electronic manufacturing services segment's revenue decreased by 2.8% year-on-year to HKD 210.5 million, impacted by the U.S.-China trade conflict[75]. - The audio-visual segment's revenue fell by 20.5% year-on-year to HKD 204.2 million due to weak demand in the U.S. and European consumer electronics markets[76]. - The lighting segment's revenue increased by 9.5% year-on-year to HKD 114.0 million, driven by domestic market projects in China[77]. - Other segments saw a revenue decline of 30.4% year-on-year to HKD 71.2 million, primarily due to weak consumer confidence[78]. Cost Management - The company is focused on maintaining healthy inventory and cash flow levels, which has contributed to its robust financial performance and strong profitability record[2]. - Inventory levels were reduced by 45.8% to HKD 375.1 million as of March 31, 2020, down from HKD 689.9 million the previous year[56]. - The company experienced a significant reduction in distribution costs, which fell to HKD 29.1 million in 2020 from HKD 43.1 million in 2019[53]. - Distribution costs decreased by 32.5% to HKD 29.1 million, reflecting reduced sales incentives and travel expenses[82]. - Administrative expenses fell by 14.2% to HKD 188.7 million due to cost control measures and a decrease in average headcount[83]. - The company has implemented cost-cutting measures and reduced employee numbers to mitigate economic downturn risks[60]. Market Strategy and Expansion - The company has plans for market expansion, particularly in Taiwan, to capitalize on opportunities arising from large electronic manufacturers operating in China[2]. - The company is prepared to adapt to new market trends and collaborate with customers to enhance automation and improve electronic content in products and solutions[65]. - The company is actively preparing to address challenges posed by the COVID-19 pandemic and is committed to maintaining good liquidity while collaborating closely with stakeholders[102]. - The group has seen a significant impact on business activities due to the global economic downturn and supply chain disruptions caused by the pandemic[102]. - Market expansion plans include entering two new international markets, aiming for a 5% market share within the first year[113]. - The company is considering strategic acquisitions to enhance its product offerings, with a budget of $30 million earmarked for potential acquisitions[113]. Corporate Governance - The company has maintained compliance with the corporate governance codes of both Hong Kong and Singapore, ensuring adherence to all principles as of March 31, 2020[123]. - The board consists of nine members, with five executive directors and four independent non-executive directors, ensuring a balanced governance structure[125]. - The company has appointed a chief independent director to lead in situations where the chairman may have conflicts of interest, enhancing governance transparency[125]. - The company has a history of strong corporate governance practices since its listing on the Hong Kong Stock Exchange in December 2013, reflecting its commitment to shareholder interests[123]. - The board believes its current size is adequate for effective decision-making, indicating a streamlined governance approach[126]. - The company has ensured that at least one independent non-executive director possesses appropriate professional qualifications in finance or accounting, aligning with regulatory requirements[128]. - The independent non-executive directors have confirmed their independence annually, reinforcing the board's integrity and governance standards[128]. - The company has a robust nomination committee that assesses the independence of long-serving directors, ensuring continued effective contributions to the board[128]. - The company has implemented sufficient measures to ensure its corporate governance practices are adequate and effective[123]. - The board of directors is responsible for the overall management of the company, including approving major operational and financial matters such as mergers and acquisitions[131]. Risk Management - The board is committed to identifying significant business risks and implementing appropriate measures to control and mitigate these risks[192]. - The internal audit function has been outsourced to an external consulting firm, Roshan Mei Consulting, since September 27, 2019, to ensure cost-effective reviews of internal controls and risk management systems[193]. - The board believes that the internal control and risk management systems are sufficient to effectively address operational, financial, compliance, and information technology risks[195]. - The internal control system aims to provide reasonable assurance regarding the integrity and reliability of financial information, safeguarding shareholder investments, and managing risks to achieve business objectives[195]. - The company has adopted an insider information policy to handle and disclose insider information in compliance with applicable laws and regulations[200].

Revenue Performance - The company reported a revenue of HKD 1,672.4 million for the six months ended September 30, 2019, a decrease of 22.4% compared to HKD 2,154.8 million in the same period of 2018[13]. - Total revenue for the six months ended September 30, 2019, was HKD 1,672,407,000, a decrease from HKD 2,154,825,000 for the same period in 2018, representing a decline of approximately 22.3%[173]. - The industrial segment remains the largest revenue source, generating HKD 455.9 million, a decrease of 18.0% from the previous year[22]. - The automotive electronics segment saw a revenue increase of 4.9% to HKD 247.8 million, despite a decline in overall vehicle sales in China[24]. - The telecommunications segment experienced a significant drop in revenue, contributing HKD 166.0 million, down 64.4% year-on-year, due to market saturation and loss of a key project[25]. - The home appliance segment's revenue was HKD 304.8 million, a slight decrease of 0.5%, with optimism for future growth driven by increasing domestic demand[23]. - The distributor segment's revenue for the first half of the fiscal year 2020 was HKD 164.2 million, a decrease of 17.4% compared to the same period last year[26]. - The audio-visual segment's revenue for the first half of the fiscal year 2020 was HKD 123.5 million, down 21.2% year-on-year, primarily due to weak demand in the European and American markets[29]. - The electronic manufacturing services segment's revenue decreased by 5.8% to HKD 111.6 million in the first half of fiscal year 2020[30]. - The lighting segment's revenue fell by 2.5% to HKD 57.7 million, with customers focusing more on domestic demand and high-end applications[31]. Profitability and Loss - Gross profit fell to HKD 99.2 million, down 52.1% from HKD 207.2 million year-on-year, primarily due to weak demand and price competition[13]. - The company recorded a loss attributable to shareholders of HKD 55.8 million, compared to a profit of HKD 6.7 million in the previous year, indicating a significant decline in performance[17]. - The overall gross margin decreased from 9.6% in the first half of fiscal year 2019 to 5.9% in the first half of fiscal year 2020, attributed to weak demand and price competition[33]. - The company reported a loss before tax of HKD 55,558 thousand, compared to a profit of HKD 14,155 thousand in the previous year, reflecting a significant downturn[104]. - Basic and diluted loss per share for the period was HKD 65.51, compared to earnings of HKD 7.97 in the same period last year[104]. - Total comprehensive loss attributable to owners of the company was HKD 67,886 thousand, compared to a total comprehensive income of HKD 15,237 thousand in the prior year[104]. Cash Flow and Financial Position - The company's cash balance decreased by HKD 66.0 million, primarily due to cash outflows from investing and financing activities[44]. - The net cash generated from operating activities for the six months ended September 30, 2019, was HKD 135,705 thousand, a significant improvement from a net cash used of HKD (194,209) thousand in the same period of 2018[115]. - The net cash used in investing activities was HKD (3,165) thousand, compared to HKD (20,641) thousand in the previous year, indicating a reduction in cash outflow[115]. - The net cash used in financing activities amounted to HKD (1,095,675) thousand, down from HKD (1,557,765) thousand in the prior year, reflecting a decrease in debt repayments[115]. - The total cash and cash equivalents at the end of the period were HKD 231,465 thousand, down from HKD 296,209 thousand at the end of the previous year[115]. - The company paid dividends of HKD (17,041) thousand, compared to HKD (32,534) thousand in the previous year, indicating a reduction in dividend payouts[115]. Market Conditions and Risks - The overall decline in revenue is attributed to market uncertainties and the impact of the prolonged US-China trade tensions[18]. - The company is monitoring potential risks in the telecommunications sector due to uncertainties in mobile applications[25]. - The group anticipates that the ongoing trade tensions and resulting tariffs will continue to impact the global economy negatively[55]. - The growth rate of the Chinese economy slowed to 6.0% in Q3 2019, down from 6.2% in Q2 2019, marking the lowest quarterly growth rate in 27 years[55]. - The group has a cautious approach to managing its business and maintaining good liquidity in light of significant macroeconomic risks[55]. Employee and Corporate Governance - The board of directors has linked employee compensation and rewards to performance, aiming to retain and develop talent[59]. - The company did not declare an interim dividend for the six months ended September 30, 2019, as it plans to retain cash for business operations[57]. - The company has complied with all provisions of the Corporate Governance Code as set out in the Hong Kong Listing Rules during the reporting period[96]. - The company’s audit committee, composed of three independent non-executive directors, reviewed the interim results for the six months ended September 30, 2019[98]. Accounting Policies and Changes - The company has adopted new accounting standards, including IFRS 16 on leases, which may impact future financial reporting[128]. - The company has adopted IFRS 16, resulting in significant changes to accounting policies regarding leases, including the recognition of right-of-use assets and lease liabilities[139]. - The company has classified right-of-use assets that do not meet the definition of investment property as separate items in the financial statements[139]. - The company will depreciate right-of-use assets over the shorter of the estimated useful life or the lease term[136]. - The company has applied the exemption for leases with a term of 12 months or less, not recognizing right-of-use assets and lease liabilities for these leases[150]. Shareholder Information - As of September 30, 2019, the total issued shares of the company were 85,207,049[77]. - Ms. Cheng holds a total of 21,945,077 shares, representing approximately 25.76% of the company's equity[72]. - Max Power holds 19,909,813 shares, accounting for 23.37% of the total equity[72]. - Global Success, fully owned by Mr. Guo, has 8,685,109 shares, which is 10.19% of the total equity[75]. - Yeo Seng Chong and Lim Mee Hwa each have a combined total of 7,819,684 shares, representing 9.18% of the total equity[72]. - Yeoman Capital Management Pte Ltd holds 6,939,684 shares, which is 8.14% of the total equity[72]. - Yeoman 3-Rights Value Asia Fund directly owns 6,719,684 shares, accounting for 7.89% of the total equity[76]. - Hong Yu Cai holds 5,614,309 shares, representing 6.59% of the total equity[72].

Financial Performance - For the fiscal year ending March 31, 2019, the company's revenue was HKD 3,392 million, a decrease of 6.9% compared to HKD 3,642 million in 2018[17]. - The net profit attributable to shareholders for 2019 was HKD 31.96 million, a significant recovery from a loss of HKD 71.61 million in 2018[31]. - Basic earnings per share for 2019 were HKD 0.10, compared to a loss per share of HKD 0.22 in the previous year[32]. - The company reported total assets of HKD 670.6 million as of March 31, 2019, compared to HKD 716.1 million in 2018[20]. - The company reported a revenue of HKD 3,687.8 million, a year-on-year decrease of 19.1%[39]. - Gross profit decreased by 17.2% to HKD 327.5 million, while the gross margin slightly increased from 8.7% to 8.9%[40]. - The company recorded a loss attributable to shareholders of HKD 19.0 million for the fiscal year[39]. - The company reported a loss of HKD 19.0 million for the fiscal year 2019, compared to a profit of HKD 112.0 million in fiscal year 2018, primarily due to a foreign exchange loss of HKD 30.7 million[50]. - Sales revenue decreased by 19.1% year-on-year from HKD 4,556.4 million in fiscal year 2018 to HKD 3,687.8 million in fiscal year 2019, attributed to weakened consumer and business confidence amid escalating US-China trade tensions[51]. Revenue Breakdown by Segment - The revenue breakdown by industry application for 2019 showed that telecommunications accounted for 26%, followed by industrial at 18% and automotive electronics at 12%[24]. - The industrial segment generated revenue of HKD 979.3 million, down 10.1% from HKD 1,089.6 million in fiscal year 2018, but the company remains optimistic about its long-term potential due to trends in industrialization and automation[53]. - The telecommunications segment, the second-largest revenue source, contributed HKD 682.7 million, a significant decrease of 39.3% from HKD 1,124.9 million in fiscal year 2018, impacted by the transition from 4G to 5G and a saturated smartphone market[54]. - The home appliances segment reported revenue of HKD 541.7 million for the fiscal year 2019, a decrease of 12.6% compared to fiscal year 2018[55]. - The automotive electronics segment's revenue decreased by 11.6% to HKD 448.1 million in fiscal year 2019, impacted by trade tensions and weak consumer sentiment in China[56]. - The distribution segment's revenue fell by 18.5% to HKD 356.3 million in fiscal year 2019, with distributors becoming cautious and halting inventory accumulation[58]. - The audio-visual segment achieved revenue of HKD 256.8 million, a slight increase of 0.1% year-on-year, supported by demand for high-end and portable products[59]. - The electronic manufacturing services segment's revenue decreased by 20.3% to HKD 216.5 million due to order cancellations amid an uncertain macro environment[61]. - The lighting segment reported revenue of HKD 104.2 million, down 14.9%, with a focus on developing IoT smart lighting products as a growth opportunity[62]. - The other segment, including toys and healthcare, saw revenue decline by 19.5% to HKD 102.3 million due to weak consumer confidence[63]. Market Environment and Strategy - The operating environment was negatively impacted by the ongoing US-China trade tensions, affecting both export and domestic electronic demand[39]. - The company has focused on developing value-added services for key growth segments such as automotive electronics, industrial, and home appliances[40]. - Future strategies include leveraging opportunities from large Taiwanese electronics manufacturers operating in China through a wholly-owned subsidiary in Taipei[2]. - The company plans to continue exploring opportunities in its main growth segments while monitoring developments in other areas[40]. - The future industry outlook remains uncertain due to the unpredictable nature of the US-China trade dispute[41]. - The company is investing in customer value-added services and skill upgrades to differentiate itself in a challenging market environment[44]. - The demand for electronic products is expected to be supported by Chinese government measures aimed at boosting domestic consumption and reducing reliance on export-driven growth[44]. - The arrival of 5G networks is anticipated to create new applications and opportunities for the electronic components industry, including in automotive and smart city sectors[44]. - The company aims to maintain a solid liquidity position to support long-term growth despite the challenging operating environment[44]. Corporate Governance - The board consists of seven members, with four executive directors and three independent non-executive directors[107]. - The company has adhered to the corporate governance codes of both Hong Kong and Singapore since its listing on December 6, 2013[105]. - The company has implemented sufficient measures to ensure adequate corporate governance practices[105]. - The independent non-executive directors have confirmed their independence according to Hong Kong Listing Rules[109]. - The company has a chief independent director appointed to address shareholder concerns when necessary[107]. - The board believes its current size is sufficient for effective decision-making[109]. - The company has maintained compliance with the requirement for independent non-executive directors to constitute at least one-third of the board[109]. - The company has a strong focus on transparency and responsible business operations[105]. - The independent non-executive directors have served for over nine years but are still considered independent[109]. - The company has a diverse management team with extensive industry experience[102]. Risk Management and Internal Controls - The board is committed to identifying significant business risks and implementing appropriate measures to control and mitigate these risks[174]. - The internal audit function has been outsourced to an external consulting firm, which has been reappointed to review the company's risk management system[176]. - The board believes that the internal control and risk management systems are sufficient to effectively address operational, financial, compliance, and IT risks[177]. - The financial records of the group are properly maintained, and the financial statements fairly reflect the group's operations and financial matters[180]. Employee and Compensation - The group employed 467 full-time employees as of March 31, 2019, an increase from 454 employees as of March 31, 2018[87]. - Total compensation for the top five senior management personnel this year amounted to approximately SGD 1,351,000[140]. - The compensation structure for executive directors includes a salary percentage of 62% to 74%, with bonuses ranging from 6% to 19%[140]. - Independent non-executive directors receive a fixed director's fee of 100%[140]. - The total compensation for the chairman's son, who is the Deputy General Manager of IT and Logistics, ranged from SGD 250,000 to SGD 299,999 for the year[142]. - The total compensation for the chairman's second son, who is a Product Manager, ranged from SGD 50,000 to SGD 99,999 for the year[142]. Shareholder Engagement - The company emphasizes fair treatment of all shareholders and ensures timely disclosure of sensitive information through SGXNET and respective websites[160]. - The company has established an investor relations website to provide meaningful and timely information to shareholders and stakeholders[161]. - Shareholders holding at least 10% of the paid-up capital can request a special general meeting by sending a written notice to the board[167]. Environmental, Social, and Governance (ESG) - The environmental and social performance of the company is highlighted in the ESG report, following the guidelines set by the Hong Kong Stock Exchange[191]. - The company is committed to improving its ESG performance and disclosures based on stakeholder insights and assessments[200]. - Regular reviews of environmental, social, and governance (ESG) risks are conducted to ensure compliance with relevant laws and regulations[200]. - The company has expanded its office safety guidelines to cover workspaces outside of the office, now referred to as workplace safety guidelines[200]. - The top six significant areas identified include customer service, product quality, customer privacy, anti-corruption, supply chain management, and occupational health and safety[200].