Financial Performance - For the year ended March 31, 2020, Elegance Optical International Holdings Limited recorded a loss before tax of approximately HK$102.4 million, with a loss attributable to owners of approximately HK$98.4 million, compared to HK$99.1 million in 2019[13]. - Total revenue for the year was approximately HK$66.2 million, representing a decrease of approximately 63.0% from approximately HK$179.0 million in the previous year[13]. - The largest portion of total revenue came from the sales of optical frames and sunglasses, which decreased by approximately 63.0% or approximately HK$106.7 million, down from HK$169.3 million in 2019[13]. - Rental income from property investment slightly decreased from approximately HK$2.3 million in 2019 to approximately HK$2.1 million in 2020, remaining relatively insignificant to the Group's operations[13]. - The debts and securities investment segment recorded a loss of approximately HK$1.6 million, compared to HK$0.7 million in 2019, with a fair value of securities investment amounting to approximately HK$5.7 million as of March 31, 2020[13]. - The Group's cash and cash equivalents as of March 31, 2020, were approximately HK$28.4 million, up from HK$13.9 million in 2019[23]. - Short-term borrowings increased to approximately HK$30.5 million as of March 31, 2020, compared to HK$20.7 million in 2019[23]. - The debt to equity ratio was approximately 12.1% as of March 31, 2020, compared to 0.9% in 2019[23]. Film Industry Insights - Filmko Culture Limited, a major film distributor in the PRC, in which the Group acquired a 25% interest, recorded a profit after tax of approximately HK$42.8 million, exceeding the profit guarantee[13]. - The box office in the PRC for 2019 was RMB 64,266 million, representing a 5.4% increase compared to 2018, maintaining its position as the world's second-largest film market[17]. - The total number of movie screens in the PRC increased by 9,708 to 69,787, solidifying its leading position globally[17]. - Cinema admissions reached 1,727 million, an increase of 11 million compared to 2018[17]. - The film market in the PRC suffered a loss of over RMB 10 billion in box office revenue due to the COVID-19 outbreak in 2020[18]. Corporate Governance - The company has adopted the Corporate Governance Code as its own code of corporate governance practices, ensuring compliance throughout the year ended 31 March 2020[127]. - The Board did not appoint any Director as its Chairman during the year, which is a deviation from Code provision A.2[128]. - The independent non-executive Director Hui Man Ho, Ivan has been appointed for an initial term of two years, renewable for successive terms of one year, while other independent non-executive Directors do not have specific terms[129]. - The nomination committee did not have any members at a material time due to resignations during the year, which constituted a deviation from Code provision A.5.1[130]. - The company has recognized the importance of transparency and accountability in its corporate governance practices[127]. - The Board will review the current situation regarding the Chairman's appointment in upcoming regular meetings[128]. - The company has complied with the Corporate Governance Code except for specific deviations noted during the year[127]. Environmental Impact - The company reported a 27.0% decrease in direct emissions from its fleet, with emissions of 60.8 tonnes of CO2e in 2020 compared to 83.3 tonnes in 2019[69]. - Indirect emissions from purchased electricity decreased by 41.0%, from 4,750.5 tonnes of CO2e in 2019 to 2,802.4 tonnes in 2020[69]. - Total greenhouse gas emissions decreased from 4,950 tonnes in 2019 to 2,989 tonnes in 2020[69]. - The Group is committed to environmentally-friendly business practices and aims to create a positive impact in the communities[62]. - The total floor area covered by the group remained constant at 479,722 sq.ft., accounting for 100% of emissions from operations in the PRC and Hong Kong[66]. Employee and Workplace Safety - As of March 31, 2020, the Group employed 271 full-time employees, a decrease from 384 in 2019[27]. - The Group maintained a work-related fatality rate of 0 and no work injury cases reported for the period[94]. - There was no lost day due to work injury, reflecting the Group's commitment to occupational health and safety[96]. - The Group complies with employment regulations, ensuring no child or forced labor in its operations[99]. - The Group emphasizes equal opportunities in recruitment, training, and advancement, promoting cultural diversity within the workforce[112]. Risk Management - Economic conditions and market risks are principal uncertainties affecting the Group's sales and revenue, with strategies in place to penetrate different geographical markets[35]. - The Group faces credit and liquidity risks related to its financial instruments, which include trade receivables and bank balances[37]. - Interest rate risk is present due to fluctuations in interest-bearing financial assets and liabilities, with management considering hedging if necessary[39]. - The Group is exposed to commodity price fluctuations, particularly for cellulose acetate and potassium gold cyanide, impacting the cost of goods sold[40]. - Foreign currency risk is monitored closely, with transactions mainly in Hong Kong dollar, Renminbi, and US dollar, minimizing significant exchange risk[41]. Shareholder Engagement - Shareholders holding not less than 10% of the paid-up capital can requisition a special general meeting[192]. - Shareholders can submit a written requisition to move a resolution at a general meeting if they represent not less than 5% of the total voting rights[194]. - A written requisition for a resolution must be signed by at least 5% of the total voting rights or no less than 100 shareholders[198]. - The written requisition must be submitted at least six weeks before the general meeting[198]. - Shareholders can direct inquiries about their shareholdings to the Company's Hong Kong branch share registrar[197].

Financial Performance - The company reported a pre-tax loss of approximately HKD 21.7 million for the six months ended September 30, 2019, compared to a pre-tax loss of approximately HKD 28.2 million in the same period last year, indicating an improvement of about 23%[8]. - Total revenue for the company was approximately HKD 45.5 million, a decrease of about 61.4% from approximately HKD 117.9 million in the previous year, primarily due to a 66.7% drop in sales of eyewear frames and sunglasses[8]. - The company recorded a loss of approximately HKD 760,000 from investment in listed securities, compared to a gain of approximately HKD 900,000 in the same period last year[9]. - Interest income from lending activities was approximately HKD 800,000, down from HKD 3.89 million in the previous year, as the company decided not to renew its lending license[9]. - The gross profit for the period was HKD 3,485,000, down from HKD 10,810,000 in the previous year, indicating a decline of about 67.7%[34]. - The net loss for the period was HKD 20,243,000, compared to a net loss of HKD 28,842,000 in the same period last year, showing a decrease of about 29.8%[34]. - The company reported a revenue of HKD 45,491,000 for the six months ended September 30, 2019, compared to HKD 42,006,000 in the same period of 2018, representing an increase of approximately 11.8%[34]. - The company reported total revenue of HKD 45,491,000 for the six months ended September 30, 2019, with a loss before tax of HKD 21,722,000[71]. - The segment performance showed a loss of HKD 27,062,000 for the six months ended September 30, 2019, compared to a profit of HKD 3,567,000 in the same period of 2018[79]. Cash Flow and Liquidity - As of September 30, 2019, the company had cash and cash equivalents of approximately HKD 17.8 million, an increase from HKD 13.9 million as of March 31, 2019[16]. - The company’s net cash flow from operating activities for the six months ended September 30, 2019, was negative HKD 11,820,000, an improvement from negative HKD 48,312,000 in the same period of the previous year[51]. - The company reported a net cash and cash equivalents balance of HKD 17,846,000 at the end of the period, compared to HKD 28,214,000 in the previous year, indicating a decrease of about 36.8%[51]. - The company’s financing activities generated a net cash inflow of HKD 14,879,000 for the six months ended September 30, 2019, compared to HKD 9,313,000 in the same period last year, representing an increase of approximately 59.7%[51]. - The company’s cash and cash equivalents increased to HKD 17,846,000 from HKD 13,937,000, reflecting a growth of approximately 28.5%[41]. Liabilities and Equity - The company's total liabilities to equity ratio was approximately 3.5% as of September 30, 2019, compared to 0.9% as of March 31, 2019[16]. - Current liabilities increased to HKD 152,332,000 as of September 30, 2019, compared to HKD 126,614,000 as of March 31, 2019, representing a growth of approximately 20.3%[44]. - Total equity decreased to HKD 276,847,000 as of September 30, 2019, down from HKD 298,448,000 as of March 31, 2019, reflecting a decline of approximately 7.2%[44]. - The company’s total liabilities increased to HKD 9,786,000 as of September 30, 2019, compared to HKD 2,675,000 as of March 31, 2019, reflecting a significant increase of approximately 265.5%[44]. - The total liabilities of the company as of September 30, 2019, were not explicitly stated but are implied to be significant given the ongoing financial challenges and settlements[29]. Operational Developments - The company aims to cautiously develop its eyewear business, debt and securities investments, and property investments amid numerous economic risks[10]. - The company plans to expand its film business and explore opportunities in the cultural and entertainment sectors, including potential investments in television dramas and related rights trading[14]. - The company has settled a liquidation petition by paying HKD 4,083,202.75 to the petitioner, resolving all related court proceedings[27]. - The company received a statutory demand for HKD 10,410,000 from a creditor, which has been acknowledged and included in the group's interest-bearing bank and other borrowings[29]. - The company decided not to renew its moneylender license due to increased uncertainty in the global economic environment and will not issue new loans[30]. Employee and Management Information - The company employed 331 full-time employees as of September 30, 2019, down from 419 employees in 2018, representing a reduction of approximately 21%[21]. - The group reported a short-term employee benefit expense of HKD 855,000 for key management personnel, a decrease from HKD 1,891,000 in the previous year[143]. - There have been no changes to the board of directors since the publication of the annual report for the year ended March 31, 2019[172]. Investments and Assets - The company’s total assets less current liabilities stood at HKD 286,633,000 as of September 30, 2019, down from HKD 301,123,000 as of March 31, 2019, a reduction of approximately 4.8%[44]. - The company’s goodwill remained unchanged at HKD 0, indicating no acquisitions or impairments during the period[47]. - The company’s share of profit from an associate was HKD 5,942,000, contributing positively to the overall financial performance[71]. - The investment in an unlisted associate company amounts to HKD 110 million, with a share of post-acquisition profit of HKD 16.93 million, compared to HKD 10.99 million in the previous period[103]. - The impairment loss recognized for the investment remains at HKD 21 million, consistent with the previous period[103]. Credit and Risk Management - The company continues to monitor overdue balances regularly to ensure effective credit management[112]. - The credit terms for transactions with customers generally range from 45 to 120 days, with strict control measures in place to minimize credit risk[112]. - The company has no collateral or other credit enhancements for its accounts receivable, indicating a focus on managing credit risk through customer diversification[112]. - The aging analysis of accounts receivable shows that amounts overdue by more than 90 days increased to HKD 9.92 million from HKD 38, indicating a significant improvement in collection[113]. Compliance and Governance - The company has adopted and complied with the applicable code provisions of the Corporate Governance Code, except for the lack of a designated chairman for the board during the reporting period[173]. - The company has adopted a code of conduct regarding securities transactions by directors, which meets the standards set out in the standard code[177]. - The unaudited condensed consolidated interim financial information for the six months ended September 30, 2019, has not been reviewed or audited by the company's auditors but has been reviewed by the audit committee[177].