Financial Performance - The company reported a significant increase in revenue, achieving a total of $150 million, representing a 25% growth year-over-year[1]. - The Group's revenue for the year ended 31 March 2020 was approximately HK$147.9 million, a decrease of 57.9% compared to HK$351.4 million in 2019[14]. - The loss attributable to the owners of the Company was approximately HK$88.1 million, compared to a profit of approximately HK$28.8 million in 2019[14]. - The basic loss per share amounted to HK29.6 cents, a decline from basic earnings per share of HK10.9 cents in 2019[14]. - The Mobile Business revenue for the year ended 31 March 2020 was approximately HK$117.3 million, representing a drastic decrease of 66.6% from HK$351.4 million in 2019[28]. - The Group's Milk Products Business generated revenue of approximately HK$30.6 million and a gross profit of approximately HK$1.8 million from the acquisition completion on 6 February 2020 to 31 March 2020[31]. - The Group's financial results for the year ended March 31, 2020, are detailed in the Consolidated Statement of Profit or Loss and Other Comprehensive Income[175]. Market Outlook and Strategy - The company provided a positive outlook for the next fiscal year, projecting revenue growth of 20% to $180 million[1]. - New product launches are expected to contribute an additional $30 million in revenue, with a focus on innovative technology solutions[1]. - The company is expanding its market presence in Southeast Asia, targeting a 15% market share by the end of the next fiscal year[1]. - The Group aims to expand its market presence in Southeast Asia, Africa, South America, and Europe while strengthening internal management and supply chain efficiency[17]. - The Group plans to focus on high product quality to ensure growth in both existing and new markets for its milk products[20]. - The Group aims to sustain the development of its Mobile Business by exploring opportunities in the communication technology industry and enhancing its competitive edge in telecommunication products and solutions[56]. - The Group plans to focus on developing the Milk Products Business as a new growth point[56]. Cost Management and Efficiency - The gross profit margin improved to 40%, up from 35% in the previous year, indicating better cost management[1]. - The company aims to reduce operational costs by 10% through efficiency improvements in the supply chain[1]. - Research and development expenses increased by 10% to $15 million, reflecting the company's commitment to innovation[1]. - The administrative expenses for continuing operations amounted to approximately HK$30.8 million, an increase of 32.8% from HK$23.2 million in 2019, primarily due to an increase in impairment losses[28]. Corporate Governance - The Company currently has two independent non-executive Directors, representing more than one-third of the Board, ensuring independent judgment on strategy and policy matters[91]. - The independent non-executive Directors are appointed for a term of three years, with at least one possessing appropriate professional qualifications or financial management expertise[93]. - The Company has received annual confirmations of independence from all independent non-executive Directors, maintaining their independent status[93]. - The Company has adopted a Board diversity policy to enhance performance quality and support strategic objectives[108]. - The Board emphasizes the importance of risk management and internal control, acknowledging its ultimate responsibility for overseeing these systems[128]. - The Group has established policies to handle and disclose internal information accurately and securely to prevent improper handling of insider information[135]. Risk Management - The Group's risk management and internal control systems are designed to provide reasonable assurance against material misstatement or losses, rather than absolute assurance[129]. - The Group conducted an annual risk assessment identifying strategic, operational, financial, and compliance risks[132]. - The Audit Committee reviewed the effectiveness of the risk management and internal control systems and deemed them effective and adequate[138]. - The Group has taken further measures to enhance its risk management and internal control systems based on weaknesses identified during the risk assessment[135]. Shareholder Communication and Dividends - The Company adopted a dividend policy that considers financial performance, business conditions, and other relevant factors for declaring dividends[163]. - The Board has resolved not to recommend any final dividend for the year ended March 31, 2020, consistent with the previous year[175]. - The Company established a shareholders' communication policy to ensure timely and transparent communication with shareholders[158]. - Shareholders can request a special general meeting if they hold at least one-tenth of the paid-up capital[165]. Challenges and Competition - The mobile business is facing pressure from market competition and an expected economic downturn, prompting the Group to explore new projects and resources[17]. - The centralization of larger mobile handset brands in mainland China has negatively impacted sales in overseas markets and increased competition[16]. - The Group's Mobile Business is sensitive to global economic conditions, with potential impacts on demand due to economic slowdowns[182]. - The Group's Mobile Business faces competition from other providers, particularly in China and other Asian countries[183]. - Increases in component prices, such as glass and batteries, could significantly impact production costs for the Mobile Business[184]. Employee Management - The Group had 34 employees, a decrease from 178 in 2019, primarily due to the disposal of the GE Group[53]. - Total staff costs from continuing operations amounted to approximately HK$10.0 million for the year ended March 31, 2020, down from approximately HK$11.9 million in 2019[53]. - Remuneration packages for employees are reviewed regularly and are based on Group results, market levels, and individual performance[53].

Financial Performance - Revenue for the year ended March 31, 2019, was HK$365,352,000, representing a 24.6% increase from HK$293,292,000 in the previous year[12] - Profit for the year attributable to owners of the company was HK$28,783,000, compared to a loss of HK$175,632,000 in the previous year[12] - The Group's gross profit rose by approximately 35.8% to approximately HK$58.5 million, with a gross profit margin increasing by approximately 1.3 percentage points to approximately 16.0%[15] - Profit before taxation was HK$33,525,000, a significant recovery from a loss of HK$169,908,000 in 2018[182] - Total comprehensive income for the year was HK$28,699,000, recovering from a loss of HK$175,728,000 in 2018[184] - Basic and diluted earnings per share for the year were both 10.9 cents, a recovery from a loss of 147.0 cents per share in the previous year[184] Assets and Liabilities - Total assets as of March 31, 2019, amounted to HK$360,798,000, a significant increase from HK$175,770,000 in 2018[12] - Total liabilities as of March 31, 2019, were HK$104,222,000, up from HK$64,830,000 in the previous year[12] - Non-current assets increased to HK$170,438,000 from HK$1,207,000, indicating significant growth in asset base[187] - Total equity as of March 31, 2019 was HK$256,576,000, up from HK$110,940,000 in 2018, representing an increase of 131.1%[187] Market Strategy and Growth - The company plans to expand its market presence and invest in new product development to drive future growth[10] - Future guidance indicates a focus on increasing revenue through strategic partnerships and technological advancements[10] - The Group plans to continue seeking business opportunities in both domestic and overseas markets to diversify its operations[19] - The Group is focusing on deploying capital and resources in areas that can generate long-term value and exceed the cost of capital[19] Corporate Governance - The board emphasized the commitment to corporate governance and transparency in financial reporting[10] - The Company has complied with all applicable code provisions of the Corporate Governance Code throughout the Reporting Period[34] - The roles of Chairman and Chief Executive Officer are held separately, ensuring a clear division of responsibilities[45] - The Company has adopted a Board diversity policy to enhance the efficiency and governance standards of the Board[36] Risk Management - The Group has established a risk management and internal control system to manage risks associated with achieving business objectives, providing reasonable assurance against material misstatements or losses[69] - An annual risk assessment identified strategic, operational, financial, and compliance risks, leading to a three-year audit plan prioritizing identified risks into annual audit projects[69] - The Audit Committee and the Board identified internal control deficiencies upon the Acquisition, affecting the completeness and accuracy of revenue from the Biological Business as of March 31, 2019[72] Acquisitions and Investments - In January 2019, the Company completed the acquisition of Great Empire International Group Limited, which specializes in biotechnology applications[19] - The Group's capital expenditure contracted but not provided in the financial statements amounted to Nil as of March 31, 2019[29] - The Company must be satisfied with the results of due diligence conducted in connection with the Acquisition, including the financial condition of the Target Group[124] Employee and Operational Insights - The Group's employee count rose to 178, an increase of 134 employees compared to the previous year, with staff costs amounting to approximately HK$15.7 million[27] - Administrative expenses increased by 79.4% to approximately HK$29.2 million, primarily due to higher staff costs and legal fees[25] - The Group's liquidity and financing requirements are reviewed regularly, with total bank and cash balances of approximately HK$34.4 million as of March 31, 2019[27] Shareholder Information - The total number of issued shares increased to 305,076,383 as of March 31, 2019, up from 254,234,383 shares the previous year[27] - The Company has arranged appropriate Directors' and officers' liability insurance for legal actions against Directors[55] - The Company adopted a dividend policy that allows for the declaration of dividends based on financial performance, business conditions, and other relevant factors, with the possibility of special dividends in addition to interim and annual dividends[91] Challenges and Future Outlook - The Group remains cautiously optimistic for the 2019/2020 financial year despite facing challenges from changing consumption patterns and economic uncertainties[15] - The introduction of 5G technology presents both opportunities and challenges for the Group, necessitating significant investment in research and development[17] - The Group expects stable development in its mobile handset segment and plans to optimize operational efficiency in the healthcare segment[110]