Financial Performance - The company's profit attributable to owners decreased to 78,782 thousand HKD in 2024 from 82,846 thousand HKD in 2023, a decline of 4.9%[2] - Revenue fell by 13.4% year-on-year, from approximately 2,658.5 million HKD in 2023 to about 2,303.2 million HKD in 2024[18] - Gross profit increased from approximately 352.0 million HKD to about 384.1 million HKD, with the gross margin rising from 13.2% to 16.7%[18] - Operating profit rose to HKD 199.9 million from HKD 180.8 million, an increase of 10.6%[39] - Net profit for the year was HKD 77.0 million, down 6.3% from HKD 82.2 million in 2023[50] - Basic earnings per share decreased to 12.31 HKD cents from 12.94 HKD cents, a drop of 4.9% year-on-year[34] - The proposed final dividend for the year ending March 31, 2024, is HKD 1.00 per share, totaling approximately HKD 6,386,000, down from HKD 9,606,000 in 2023, a decrease of about 33.0%[101] Revenue Breakdown - The steel distribution and processing business saw a revenue decrease of 15.4%, but the profit before tax rose from approximately 84.1 million HKD to about 116.0 million HKD[19] - The construction materials distribution business reported a slight revenue increase from approximately 325.5 million HKD to 340.4 million HKD, with profit before tax slightly decreasing from about 32.0 million HKD to 30.5 million HKD[19] - Revenue from customer contracts recognized at a point in time totaled HKD 1,879,527,000, while revenue recognized over time and rental income amounted to HKD 83,187,000, leading to total revenue of HKD 2,303,176,000[67] - Revenue from Hong Kong for the year ended March 31, 2024, was HKD 371,152,000, a slight increase from HKD 365,018,000 in the previous year[70] - Revenue from mainland China decreased to HKD 1,297,378,000 from HKD 1,386,534,000 year-over-year[70] Cost and Expenses - The company's financial expenses increased by 15.4 million HKD year-on-year, impacting the growth of gross profit[18] - The cost of goods sold for the year 2024 was HKD 1,799,193,000, down from HKD 2,204,338,000 in 2023, indicating a decrease of about 18.3%[97] - The net financial expenses for the year 2024 amounted to HKD 91,339,000, compared to HKD 76,097,000 in 2023, representing an increase of approximately 20.0%[98] Assets and Liabilities - Total assets decreased from approximately HKD 2,957.4 million to about HKD 2,649.9 million, a decline of 10.4% due to foreign exchange losses and reduced working capital[33] - Total liabilities decreased to HKD 1,608.0 million from HKD 1,884.8 million in the previous year[52] - The debt-to-equity ratio slightly decreased from 57.0% to 54.2%[33] - Current liabilities exceeded current assets by approximately HKD 211.3 million, with cash and cash equivalents at HKD 145.3 million[56] Operational Efficiency - The company maintained a cost-effective steel procurement mechanism and improved off-site rebar cutting and bending efficiency to sustain profitability[17] - The accounts receivable decreased from HKD 449.6 million in 2023 to HKD 386.1 million in 2024, indicating improved collection efficiency[32] - Inventory reduced from approximately HKD 473.1 million to about HKD 380.6 million, a decrease of 19.5% attributed to falling steel prices[33] Market Outlook - The company anticipates continued pressure on rental rates and occupancy levels in the short term due to increased supply in the real estate market[26] - The company remains cautiously optimistic about economic development in Shanghai and Hong Kong, supported by government policies aimed at stimulating the property market[28] - The company plans to enhance its property positioning and leasing strategies, focusing on specific vertical industries such as healthcare to improve occupancy rates[29] Capital Management - The company aims to maintain prudent capital management measures to reduce business and macro risks while delivering sustainable growth and value to clients and shareholders[29] - The company has unutilized bank financing of HKD 825.4 million and utilized bank financing of HKD 1,006.3 million, ensuring sufficient financial resources for operations[46] - The group will continue to monitor liquidity and operational cash flow, implementing cost control measures to mitigate the impact of macroeconomic factors such as interest rate hikes[106] Employee and Governance - The total employee cost for the year was approximately HKD 130.5 million, an increase from HKD 117.7 million in the previous year, reflecting a focus on talent retention and training[138] - The company has adopted the corporate governance code and confirmed compliance with its standards by all directors during the year[160]

Financial Performance - Revenue for the six months ended September 30, 2023, was HK$1,246,762,000, a decrease of 7.8% compared to HK$1,352,305,000 for the same period in 2022[11] - Gross profit increased to HK$208,927,000, up 19.1% from HK$175,453,000 year-over-year[11] - Operating profit rose to HK$116,488,000, reflecting a 22.9% increase from HK$94,772,000 in the previous year[11] - Profit for the period was HK$53,546,000, an increase of 7.4% compared to HK$49,724,000 for the same period in 2022[11] - Basic and diluted earnings per ordinary share attributable to owners of the Company were both HK8.31 cents, up from HK7.48 cents in the prior year[11] - Profit for the period increased to HK$53,546,000, up from HK$49,724,000, representing a growth of 3.7% year-over-year[15] - Total comprehensive loss for the period was HK$39,585,000, a significant improvement from HK$105,988,000 in the previous year, indicating a reduction of 62.7%[15] - The profit for the period ended September 30, 2023, was HK$53,191,000, compared to HK$47,927,000 for the same period in 2022, indicating an increase of approximately 11.8%[30] - Basic earnings per ordinary share increased to 8.31 HK cents, up from 7.48 HK cents in the previous year, representing an increase of 11.1%[152] Expenses and Costs - Finance costs increased to HK$47,720,000, compared to HK$34,116,000 in the previous year, indicating a rise of 39.9%[11] - Selling and distribution expenses increased to HK$13,766,000, up from HK$5,476,000, marking a significant rise of 150.5%[11] - Total expenses for the six months ended September 30, 2023, were HK$1,122,322,000, a reduction of 10.6% compared to HK$1,255,214,000 in 2022[133] - Net finance costs increased to HK$47,100,000, compared to HK$33,534,000 in the previous year, reflecting a rise of 40.5%[137] Assets and Liabilities - Non-current assets decreased to HK$1,686,009,000 from HK$1,798,799,000, reflecting a decline of 6.3%[18] - Total assets as of September 30, 2023, were HK$2,796,552,000, down from HK$2,957,421,000, a decrease of 5.4%[21] - Total equity attributable to owners of the Company decreased to HK$921,589,000 from HK$961,149,000, a decline of 4.1%[21] - Current liabilities decreased to HK$1,246,742,000 from HK$1,713,835,000, a reduction of 27.2%[21] - Borrowings increased significantly to HK$418,015,000 from HK$64,530,000, indicating a rise of 548.5%[21] - Cash and cash equivalents decreased to HK$109,679,000 from HK$147,485,000, a decline of 25.6%[21] - As of September 30, 2023, the Group's total financial liabilities amounted to HK$1,772,657,000, with HK$1,214,806,000 due within one year[76] - Total borrowings decreased to HK$1,349,916,000 as of September 30, 2023, from HK$1,433,319,000 as of March 31, 2023, representing a reduction of approximately 5.8%[199] Cash Flow - The net cash generated from operating activities for the six months ended September 30, 2023, was HK$91,945,000, a significant recovery from a cash outflow of HK$20,370,000 in the prior year[30] - The Group reported cash flows from financing activities resulting in a net cash outflow of HK$69.58 million, compared to a net inflow of HK$23.92 million in the same period of 2022[33] - The Group's cash flow projections indicate sufficient working capital to finance operations and meet financial obligations within twelve months from September 30, 2023[46] - The Group's cash flow forecast covers a period of not less than 12 months from September 30, 2023, indicating sufficient operating funds to meet financial obligations[48] Market and Strategic Outlook - The Company continues to explore market expansion opportunities and new product development strategies to enhance future growth[11] - The Group is exposed to commodity price risk due to trading in steel products, with committed sales orders exceeding on-hand inventories, making future price fluctuations significant[67] - The Group is closely monitoring steel market prices to manage commodity price risk and adjust procurement strategies accordingly[68] - The Group's management is actively working to mitigate liquidity pressure and improve its financial position through various measures[44] Investments and Fair Value - The Company reported a fair value loss on an investment property of HK$7,735,000, which was not present in the previous year[11] - The fair value of investment properties at the end of the period was HK$1,283,029,000, down from HK$1,327,484,000 in the previous year[159] - The fair value of unlisted securities remained stable at HK$3,701,000 as of September 30, 2023, with no material changes noted during the period[102] - The Group's financial instruments are classified into three levels based on fair value hierarchy, with total fair value assets amounting to HK$8,463,000 as of September 30, 2023[85] Dividends and Shareholder Returns - The company paid dividends totaling HK$9,606,000 during the period, consistent with the previous year's dividend payments[30] - An interim dividend of HK1.50 cents per ordinary share was declared, totaling approximately HK$9,606,000, compared to HK1.00 cent per share in the previous year[145]

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之內容概不負責，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分內容而產生或因倚賴該等內容而引致之任何損 失承擔任何責任。 HONG KONG SHANGHAI ALLIANCE HOLDINGS LIMITED 滬 港 聯 合 控 股 有 限 公 司 （於百慕達註冊成立之有限公司） （股份代號：1001） 截 至 二 零 二 三 年 九 月 三 十 日 止 六 個 月 之 中 期 業 績 公 告 滬港聯合控股有限公司（「本公司」）之董事會（「董事會」）謹此宣佈本公司及其附屬公司（統稱「本集 團」）截至二零二三年九月三十日止六個月（「本期間」）之未經審核簡明綜合中期業績。 財務摘要 截至二零二三年九月三十日止六個月 二零二三年 二零二二年 變動 百萬港元 百萬港元 收入 1,246.8 1,352.3 -7.8% 毛利 208.9 175.5 +19.1% ...

Financial Performance - For the year ended March 31, 2023, revenue decreased by 5.3% to HK$2,658.5 million from HK$2,807.9 million in 2022[10] - Gross profit increased by 3.6% to HK$352.0 million, with a gross profit margin of 13.2%, up from 12.1%[10] - Operating profit rose by 15.2% to HK$180.8 million, resulting in an operating profit margin of 6.8%, compared to 5.6% in the previous year[10] - Profit for the year increased by 29.5% to HK$82.2 million, with profit attributable to owners rising by 26.5% to HK$82.8 million[10] - Basic earnings per ordinary share improved by 26.6% to 12.94 HK cents from 10.22 HK cents[10] - The net profit margin increased to 3.1%, up from 2.3% in the previous year, reflecting improved profitability[10] - For FY2022/23, the Group's revenue decreased by 5.3% year-on-year, from approximately HK$2,807.9 million to approximately HK$2,658.5 million[43] - Gross profit increased from approximately HK$339.7 million to approximately HK$352.0 million, with a gross profit margin improvement from 12.1% to 13.2%[43] - Profit attributable to owners of the Company reached approximately HK$82.8 million, representing a notable improvement of 26.5% compared to the previous year[43] Dividends and Shareholder Returns - The interim dividend per ordinary share was reduced by 33.3% to 1.00 HK cent, while the proposed final dividend remained at 1.50 HK cents[10] - Basic earnings per ordinary share increased to HK12.94 cents from HK10.22 cents in the same period last year[48] Business Operations and Growth - The company plans to continue focusing on market expansion and new product development to drive future growth[10] - The delivery quantity for offsite rebar fabrication in Hong Kong increased by 11.6% year-on-year, indicating a positive trend in the Steels Distribution and Processing Business[26] - The Steels Distribution and Processing Business experienced a revenue drop from approximately HK$2,317.1 million to approximately HK$2,221.3 million due to COVID-19 and project delays[52] - The delivery quantity of the Group's construction steels processing business increased by 11.6% year-on-year, reflecting a growing acceptance of offsite rebar fabrication in Hong Kong[52] - The Group anticipates increased business opportunities in the construction materials distribution sector due to anticipated growth in international tourism and economic activities in Hong Kong[38] Assets and Liabilities - The Group's non-current assets decreased to HK$1,798,799, down from HK$1,966,749 in the previous year[25] - Current liabilities rose to HK$1,713,835, compared to HK$1,374,122 in the previous year, reflecting increased financial obligations[25] - The Group's total assets decreased from approximately HK$3,368.2 million to approximately HK$2,957.4 million as of March 31, 2023, primarily due to translation differences and reduced working capital[80] - The Group's inventories decreased from approximately HK$547.5 million to approximately HK$473.1 million, with average inventory days increasing to 81 days[80] - Trade and bill receivables decreased from approximately HK$509.6 million to approximately HK$430.7 million, with average days of sales outstanding increasing to 57 days[80] - The Group's equity totalled HK$1,072,653, a decrease from HK$1,114,228 in the previous year[25] - The net asset value of the Group reduced to approximately HK$1,072.7 million, with net asset value per ordinary share at approximately HK$1.50 as of March 31, 2023[80] Sustainability and Technology - The Group completed the installation of a solar photovoltaic system covering approximately 70% of the electricity consumption at its automated rebar processing plant[27] - All three commercial properties managed by the Group received LEED GOLD and WELL Health-Safety Rating certifications, highlighting the Group's commitment to sustainability[49] - The Group plans to focus on digitization and the use of IoT and energy-saving technologies to adapt to changing customer needs[36] Corporate Governance - The company has established four Board Committees: Executive Committee, Remuneration Committee, Audit Committee, and Nomination Committee to oversee various aspects of the affairs[151] - The Board consists of two Executive Directors and four Independent Non-executive Directors, ensuring a majority of independent members[145] - The company has complied with all applicable code provisions of the Corporate Governance Code, except for provision C.2.1 for the year ended March 31, 2023[138] - The daily operations of the Group's business are executed by the management under the supervision of the Executive Committee[152] - The Company has implemented a Board Diversity Policy, which emphasizes meritocracy and considers various diversity perspectives for Board appointments[177] - The Board currently consists of all male members and aims to appoint one female member by December 31, 2024, to enhance gender diversity[179] Employee and Staff Management - The total staff costs amounted to approximately HK$117.7 million, including retirement benefits and wage subsidies[134] - The Group employed 226 staff as of March 31, 2023, a decrease from 235 staff in 2022[134] - The Company will review employee turnover and recruitment data to adjust recruitment targets and strategies as necessary[180] Financial Management - The Group's cash and cash equivalents decreased to approximately HK$159.2 million, and borrowings decreased by approximately HK$65.6 million to approximately HK$1,433.3 million[81] - The gearing ratio slightly increased from 56.1% to 57.0%, mainly due to a reduction in capital and reserves from currency translation[81] - The current ratio was reduced to 0.68 due to the reclassification of long-term bank loans to current liabilities[82] - The Group's capital expenditure was primarily financed through cash generated from operating activities[101]

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之內容概不負責，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分內容而產生或因倚賴該等內容而引致之任何損 失承擔任何責任。 HONG KONG SHANGHAI ALLIANCE HOLDINGS LIMITED 滬 港 聯 合 控 股 有 限 公 司 （於百慕達註冊成立之有限公司） （股份代號：1001） 截 至 二 零 二 三 年 三 月 三 十 一 日 止 年 度 之 全 年 業 績 公 告 滬港聯合控股有限公司（「本公司」）之董事會（「董事會」）謹此宣佈本公司及其附屬公司（統稱「本集 團」）截至二零二三年三月三十一日止年度（「本年度」）之綜合業績。 財務摘要 截至三月三十一日止年度 二零二三年 二零二二年 變動 百萬港元 百萬港元 收入 2,658.5 2,807.9 -5.3% 毛利 352.0 339.7 +3.6% ...

Financial Performance - Revenue for the six months ended September 30, 2022, was HK$1,352,305, a slight decrease of 0.3% compared to HK$1,359,791 for the same period in 2021[13] - Gross profit for the period was HK$175,453, down 8.5% from HK$191,875 in the previous year[13] - Operating profit decreased to HK$94,772, compared to HK$100,611 in the prior year, reflecting a decline of 5.5%[13] - Profit for the period was HK$49,724, a marginal increase from HK$49,154 in the same period last year, representing a growth of 1.2%[13] - Basic earnings per share attributable to owners of the Company were HK7.48 cents, down from HK7.73 cents in the previous year, indicating a decrease of 3.2%[13] - The Company reported finance costs of HK$34,116, an increase from HK$30,821 in the previous year, reflecting a rise of 7.4%[13] - Non-controlling interests contributed HK$1,797 to the profit, compared to a loss of HK$409 in the previous year, showing a significant turnaround[13] - The Company experienced a net loss of HK$1,419 from investments accounted for using the equity method, an improvement from a loss of HK$8,314 in the previous year[13] - Total comprehensive income for the period will be detailed in the subsequent financial statements, indicating ongoing assessments of financial performance[16] - Profit for the period increased to HK$49,724,000 from HK$49,154,000, representing a growth of 1.16%[17] - Total comprehensive loss for the period amounted to HK$105,988,000, compared to a total comprehensive income of HK$73,052,000 in the previous period[17] - Other comprehensive loss for the period was HK$155,712,000, significantly higher than the previous period's income of HK$23,898,000[17] Assets and Liabilities - Total assets decreased to HK$2,998,454,000 from HK$3,368,221,000, reflecting a decline of approximately 10.98%[20] - Total liabilities decreased to HK$2,000,920,000 from HK$2,253,993,000, a reduction of about 11.19%[22] - Total equity attributable to owners of the Company decreased to HK$890,157,000 from HK$990,835,000, a decline of approximately 10.13%[22] - Non-current assets totaled HK$1,752,353,000, down from HK$1,966,749,000, indicating a decrease of about 10.87%[20] - Current assets decreased to HK$1,246,101,000 from HK$1,401,472,000, reflecting a decline of approximately 11.14%[20] - Cash and cash equivalents stood at HK$150,239,000, down from HK$188,931,000, a decrease of about 20.39%[20] Cash Flow and Financing Activities - For the six months ended September 30, 2022, the company reported a net cash outflow from operating activities of HK$54,237,000, compared to HK$140,876,000 in the same period of 2021[30] - The company experienced a net cash inflow from financing activities of HK$23,924,000, a decrease from HK$188,549,000 in the previous year[33] - The company recorded a net cash outflow from investing activities of HK$4,292,000, compared to HK$8,495,000 in the previous year[30] - Interest received during the period was HK$582,000, while interest paid amounted to HK$32,904,000[30] - The Group's borrowings as of 30th September 2022 amounted to HK$1,481,504,000, with HK$775,110,000 due within one year[57] - The total financial liabilities as of 30th September 2022 were HK$1,868,256,000, compared to HK$2,071,447,000 as of 31st March 2022, indicating a decrease[57] Market and Risk Management - The Group is exposed to commodity price risk due to trading in steel products, with committed sales orders exceeding on-hand inventories[55] - Management considers the price risk from investments classified as financial assets at fair value through profit or loss to be insignificant[55] - The Group's liquidity risk is managed by analyzing financial liabilities based on their maturity, with HK$1,146,423,000 due within one year[57] - The Group's income and operating cash flows are largely independent of market interest rate changes due to low-interest-bearing assets[63] - The Group is closely monitoring steel product market prices to manage commodity price risks effectively[55] Segment Performance - Revenue from the Steels Distribution and Processing Business was HK$1,295,958, while the Building Products Distribution Business generated HK$169,524, and Property Investment and Fund Management Business contributed HK$56,333[95] - Operating profit for the Group was HK$94,772, with the Steels Distribution and Processing Business contributing HK$58,038 and the Building Products Distribution Business contributing HK$23,219[95] - The Group operates predominantly in three segments: Steels Distribution and Processing, Building Products Distribution, and Property Investment and Fund Management[89] Shareholder Information - An interim dividend of HK1.00 cent per ordinary share was declared, totaling approximately HK$6,404,000, down from HK1.50 cents per share in 2021, which totaled HK$9,606,000[123] - The weighted average number of ordinary shares in issue during the period is 640,414,000, slightly down from 641,196,000 in 2021[130] - The company has not recognized the interim dividend as a liability in the unaudited condensed consolidated interim financial information[123] Accounting and Valuation - The accounting policies applied are consistent with those of the annual consolidated financial statements for the year ended 31st March 2022[39] - New accounting standards adopted did not have any material impact on the results and financial position of the Group[42] - The total fair value of financial assets as of September 30, 2022, was HK$11,091,000, with HK$4,573,000 classified under Level 1 and HK$2,610,000 under Level 2[69] - The carrying amounts of the Group's financial assets and liabilities approximated their fair values, reflecting effective financial risk management[78] Other Financial Metrics - Employee benefit expenses for the six months ended September 30, 2022, were HK$54,536, down from HK$68,597 in the same period of 2021[110] - The current income tax expense for Hong Kong profits tax is HK$3,779,000, while the China corporate income tax is HK$6,381,000, totaling HK$10,095,000 for the six months ended 30th September 2022, a decrease from HK$12,956,000 in 2021[121] - The provision for impairment for trade and bill receivables was HK$15,597,000 as of September 30, 2022, compared to HK$16,536,000 as of March 31, 2022[164]

Financial Performance - Revenue for the year ended March 31, 2022, increased by 35.4% to HK$2,807.9 million from HK$2,073.6 million in 2021[11] - Profit for the year surged by 1,559.4% to HK$63.4 million compared to HK$3.8 million in the previous year[11] - Basic earnings per ordinary share rose to 10.22 HK cents, a significant increase of 3,830.8% from 0.26 HK cents[11] - The gross profit margin slightly decreased to 12.1% from 12.2% year-on-year[11] - Operating profit margin improved to 5.6%, up from 4.6% in the previous year[11] - The net profit margin increased to 2.3%, compared to 0.2% in the prior year[11] - The company reported a gross profit of HK$339.7 million, up 34.3% from HK$253.0 million[11] - Operating profit reached HK$157.0 million, reflecting a 63.5% increase from HK$96.0 million in the previous year[11] - Profit before income tax was HK$83,006, up from HK$13,362 in the previous year, indicating a strong recovery[17] - Profit attributable to owners of the company was HK$65,503, a substantial increase from HK$1,673 in the previous year[17] Business Segments - The steel distribution and processing business accounted for 14.0% of total revenue, while property investment and fund management contributed 82.5%[12] - The Property Investment and Fund Management Business remained resilient, while the Steels Distribution and Processing Business and Building Products Distribution Business achieved segment profit increases of approximately 117.1% and 25.9% respectively[48] - The Building Products Distribution Business achieved a revenue of approximately HK$393.7 million, up from approximately HK$313.9 million last year, with profit before income tax increasing by 25.9% to approximately HK$43.1 million[74] - The Steels Distribution and Processing Business reported a profit before income tax of approximately HK$88.4 million, a 117.1% increase on revenue of approximately HK$2,317.2 million[78] Dividends and Equity - Proposed final dividend per ordinary share is set at 1.50 HK cents, with an interim dividend also at 1.50 HK cents[11] - Total equity as of March 31, 2022, was HK$1,114,228, up from HK$1,008,508 in the previous year, showing a healthy growth in net assets[20] - The Group's net asset value increased from approximately HK$1,008.5 million to approximately HK$1,114.2 million, with net asset value per ordinary share at approximately HK$1.55[96] Market and Operational Insights - The company reported notable orders in the Building Products Distribution Business in Hong Kong and Macau, contributing to revenue growth[27] - The revitalization of Central Park • Huangpu in Shanghai led to an increase in occupancy and rent rates during the year[28] - The company aims to capture opportunities in the recovering construction market in Hong Kong, with improved efficiency in civil project approvals[34] - The construction projects in Hong Kong and Macau showed a gradual rebound in demand, indicating a recovery in the market[43] - The Group remains cautiously optimistic about future developments in the Hong Kong market, anticipating orderly progress in infrastructure projects[37] Corporate Social Responsibility - The company is committed to corporate social responsibility, providing support during the COVID-19 pandemic and reducing its carbon footprint through solar panel installations[33] Financial Position and Ratios - The Group's total assets increased from approximately HK$2,960.8 million to approximately HK$3,368.2 million as of March 31, 2022[96] - Inventories rose from approximately HK$443.1 million to approximately HK$547.5 million, primarily due to a surge in steel prices[96] - Trade and bill receivables increased from approximately HK$363.8 million to approximately HK$509.6 million, with average days of sales outstanding slightly decreasing to 49 days[96] - The Group maintains a current ratio of approximately 1.0 and a gearing ratio that slightly decreased from 59.1% to 56.1%[97] - The Group's cash and cash equivalents increased by approximately HK$58.9 million to about HK$232.0 million, while borrowings rose by approximately HK$44.3 million to about HK$1,499.0 million[100] Governance and Management - The Company has complied with the Corporate Governance Code, except for CG Code provision A.2.1 for the year ended March 31, 2022[153] - The Board consists of two Executive Directors and four Independent Non-executive Directors[161] - The Company has established four Board Committees: Executive Committee, Remuneration Committee, Audit Committee, and Nomination Committee[167] - The Board meets regularly to discuss overall strategy and review financial performance, with a total of 4 Board meetings held during the year[173] - Each Independent Non-executive Director has confirmed their independence annually, in compliance with Listing Rules[162] - The Company emphasizes nurturing talents and provides a competitive remuneration package to attract and motivate employees[151] - The Board is committed to continuously reviewing and improving corporate governance practices to ensure proper regulation of business activities[154] Development and Innovation - The company invested in R&D by collaborating with a Hong Kong start-up specializing in AIoT Smart Toilet Solutions, enhancing its product offerings[27] - The Group has become a strategic investor and distributor for BluTech IoT, focusing on smart toilet solutions to enhance property management efficiency[78] - The introduction of Smart Toilet Solutions aims to enhance the Group's product portfolio and drive market penetration[90]

Financial Performance - Revenue for the six months ended September 30, 2021, was HK$1,359,791,000, an increase of 42.3% compared to HK$955,834,000 in the same period of 2020[12] - Gross profit for the period was HK$191,875,000, representing a gross margin of 14.1%, up from HK$140,288,000 in the previous year[12] - Profit for the period was HK$49,154,000, a significant increase from HK$1,635,000 in the same period last year[12] - Basic earnings per share attributable to owners of the Company was HK7.73 cents, compared to HK0.07 cent in the previous year[12] - Operating profit increased to HK$100,611,000, compared to HK$51,475,000 in the same period of 2020[12] - Total comprehensive income for the period reached HK$73,052,000, up from HK$58,139,000 in the previous year, indicating an increase of about 25.6%[15] - Profit for the period increased significantly to HK$49,154,000 for the six months ended September 30, 2021, compared to HK$1,635,000 in the same period of 2020, representing a growth of approximately 2,908%[15] - The company reported a profit for the period of HK$1,635,000 for the six months ended 30th September 2021, compared to HK$466,000 for the same period in 2020, indicating a significant increase[30] - Profit before income tax for the Group was HK$6,741,000, a significant recovery from a loss of HK$33,305,000 in the previous year[109] - The profit attributable to owners of the Company for the six months ended 30th September 2021 was HK$49,563,000, a significant increase from HK$466,000 in 2020, representing a growth of approximately 10,563%[135] Costs and Expenses - The Company reported a finance cost of HK$30,821,000, slightly down from HK$33,489,000 in the previous year[12] - The total cost of sales for the period was HK$1,167,916,000, which is an increase from HK$815,546,000 in the same period of 2020[12] - Employee benefit expenses increased to HK$68,597,000, compared to HK$51,622,000 in the prior year, reflecting a rise of 32.8%[119] - The Group reported net finance costs of HK$30,187,000 for the six months ended September 30, 2021, a decrease from HK$33,358,000 in the same period of 2020[123] Assets and Liabilities - Total assets as of September 30, 2021, amounted to HK$3,235,006,000, a rise from HK$2,960,770,000 as of March 31, 2021, reflecting an increase of approximately 9.2%[18] - Total equity attributable to owners of the Company increased to HK$952,297,000 from HK$887,721,000, marking a growth of about 7.3%[18] - Current liabilities rose to HK$1,279,711,000, compared to HK$1,065,294,000 in the previous period, representing an increase of approximately 20.1%[20] - Non-current assets totaled HK$1,915,951,000, up from HK$1,881,726,000, indicating an increase of about 1.8%[18] - The Group's borrowings as of September 30, 2021, amounted to HK$1,659,069,000, with HK$893,898,000 due within one year[77] - The total financial liabilities as of September 30, 2021, were HK$1,987,952,000, compared to HK$1,855,498,000 as of March 31, 2021[77] - The Group's liquidity risk is highlighted by trade and bill payables of HK$173,837,000 due within one year as of September 30, 2021[77] Cash Flow - Cash flows from operating activities showed a net cash outflow of HK$108,526,000 for the six months ended 30th September 2021, compared to a net cash inflow of HK$107,489,000 in 2020, reflecting a change of approximately HK$215,015,000[30] - Net cash outflow from investing activities was HK$140,876,000 for the six months ended 30th September 2021, a decrease from a net cash inflow of HK$73,390,000 in the same period of 2020[30] - The company experienced a net cash inflow from financing activities of HK$188,549,000 for the six months ended 30th September 2021, compared to a net cash outflow of HK$72,599,000 in 2020[32] - Cash and cash equivalents increased to HK$158,756,000 from HK$119,098,000, reflecting a growth of approximately 33.3%[18] - Cash and cash equivalents at the end of the period were HK$158,756,000, an increase from HK$95,297,000 at the end of the same period in 2020, representing a growth of approximately 66.4%[32] Dividends and Shareholder Returns - The company paid dividends amounting to HK$6,412,000 to owners for the six months ended 30th September 2021, with no dividends paid in the same period of 2020[32] - An interim dividend of HK1.50 cents per ordinary share was declared, totaling approximately HK$9,614,000, which was not recognized as a liability in the interim financial information[128] Business Operations - The company’s principal activities include distribution and processing of construction materials, trading of sanitary wares, and property investment, indicating a diversified business model[36] - Sales of goods contributed HK$1,312,812,000, while service income and rental income were HK$23,224,000 and HK$23,755,000 respectively[98] - The construction materials business generated revenue of HK$1,115,710,000, while the BDS business and property investment and project management business reported revenues of HK$197,102,000 and HK$46,965,000 respectively[105] Financial Instruments and Valuation - The fair value of financial assets measured at fair value as of September 30, 2021, was HK$5,260,000, while financial liabilities were recorded at (HK$909,000)[89] - The fair value estimation of financial instruments is categorized into three levels, with Level 1 assets valued at HK$5,260,000 and Level 2 liabilities at (HK$909,000)[89] - The company has not made any transfers between valuation levels during the reporting period, maintaining consistency in valuation techniques[94] Risk Management - The Group's interest rate risk is primarily from borrowings, with HK$97,840,000 converted from variable to fixed interest rates through interest rate swaps as of September 30, 2021[80] - The Group is exposed to commodity price risk due to trading in steel products, with committed sales orders exceeding on-hand inventories[73] - The Group's financial risk management policies have not changed significantly since the annual financial statements as of March 31, 2021[75] Future Outlook - The Group is in the process of assessing the impact of new standards and amendments that will become effective in the future on its results and financial position[64] - The Group adopted HKFRS 16 (Amendments) – COVID-19-Related Rent Concessions retrospectively from April 1, 2021, allowing lessees to account for qualifying rent concessions as if they were not lease modifications[54] - The newly adopted amendments to existing standards did not have any material impact on the results and financial position of the Group[54]

Financial Performance - Revenue for the year ended March 31, 2021, was HK$2,073.6 million, a decrease of 10.8% from HK$2,325.0 million in 2020[26] - Gross profit increased by 4.7% to HK$253.0 million, with a gross profit margin of 12.2%, up from 10.4%[26] - Operating profit surged to HK$96.0 million, reflecting a significant increase of 1,895.0% compared to HK$4.8 million in the previous year[26] - The net profit margin improved to 0.2%, compared to a net loss margin of (3.8%) in the prior year[26] - Basic earnings per share for the year was HK$1.7, a recovery from a loss of HK$90.3 per share in 2020[26] - Proposed special dividend of HK$0.26 per ordinary share, compared to a loss of HK$14.08 per share in the previous year[26] - The profit attributable to owners of the company was HK$1,673, a significant recovery from a loss of HK$90,309 in 2020[32] - The Group recorded a turnaround from a net loss of approximately HK$90.3 million last year to a net profit of approximately HK$1.7 million for the Year[56] - Basic earnings per ordinary share improved to HK0.26 cent for the Year, compared to a basic loss per ordinary share of HK14.08 cents last year[62] Business Segments - Construction materials accounted for 15% of revenue, while property investment and project management contributed 80%[27] - The construction materials business achieved a record-high order book, indicating strong future revenue potential[41] - Profit before income tax for the Construction Materials Business grew by approximately 396.6% year-on-year due to increased utilization of automated processing and effective cost control measures[60] - The Property Investment and Project Management Business recorded a loss before income tax of approximately HK$7.6 million on revenue of approximately HK$94.1 million, compared to a profit of approximately HK$6.3 million on revenue of approximately HK$93.5 million last year[72] - The Building and Design Solutions Business achieved a profit before income tax of approximately HK$34.2 million on revenue of approximately HK$313.9 million, marking a 31.1% increase in profit year-over-year[79] - The Construction Materials Business reported a profit before income tax of approximately HK$40.7 million on revenue of approximately HK$1,660.8 million, representing a 396.6% increase in profit year-over-year[88] Market Conditions - Steel prices spiked over 40% year-on-year, impacting the construction materials business margins[40] - The commercial property market in Shanghai is recovering, with increased leasing prices and occupancy rates expected to contribute to revenue growth[47] - The Shanghai property market is showing a stable rebound in demand, with companies regaining confidence in leasing decisions due to low market rents[91] - The Group remains optimistic about the medium to long-term growth in demand for premium-grade offices in Shanghai[91] - The Group anticipates that key infrastructure projects will receive quicker legislative approval, creating new market opportunities[42] Strategic Plans - The company plans to focus on expanding its market presence and enhancing its product offerings in the upcoming fiscal year[24] - Management highlighted ongoing investments in new technologies and product development to drive future growth[24] - The company aims to explore potential mergers and acquisitions to strengthen its market position and diversify its portfolio[24] - The Group plans to continue its segment-based growth strategy in Hong Kong, Macau, Shanghai, and Wuhan, focusing on large and iconic projects to drive business growth[95] Financial Position - Non-current assets increased to HK$1,881,726 as of 31st March 2021, up from HK$1,792,413 in 2020[35] - Net assets rose to HK$1,008,508, an increase from HK$916,768 in the previous year[35] - The Group's total assets increased from approximately HK$2,733.0 million to approximately HK$2,960.8 million as of 31st March 2021, representing an increase of about 8.3%[102] - Inventories rose from approximately HK$354.9 million to approximately HK$443.1 million, primarily due to a surge in steel prices and advanced stock preparations, leading to an average inventory turnover of 89 days[102] - Cash and cash equivalents and pledged bank deposits increased by approximately HK$43.9 million to approximately HK$173.1 million, while borrowings rose by approximately HK$39.0 million to approximately HK$1,454.6 million[103] Corporate Governance - The Board consists of two Executive Directors and four Independent Non-executive Directors, ensuring a diverse governance structure[150] - The Company has adopted the Model Code for Securities Transactions, with all Directors confirming compliance during the year[149] - The Board has established four Committees: Executive Committee, Remuneration Committee, Audit Committee, and Nomination Committee to oversee various affairs[158] - The Company is committed to continuously reviewing and improving corporate governance practices[148] - The Executive Committee is responsible for ensuring timely and accurate disclosure of information to shareholders[200] Risk Management - The Group's financial management focuses on managing risks including interest rate, foreign exchange, and liquidity risks, with a strategy to match RMB payments with RMB receipts to minimize exchange exposure[123] - The Group's operational risk management includes clear accountability and adherence to standard operating procedures to mitigate risks from internal processes and external events[128] - The Group's business performance is influenced by economic conditions, competitive environment, and regulatory changes in the regions where it operates[129] Employee Management - The Group emphasizes nurturing talents and provides competitive remuneration packages to attract and motivate employees[136] - As of March 31, 2021, the Group employed 244 staff, a decrease from 267 staff in 2020[138] - Total staff costs, including contributions to retirement benefit schemes, amounted to approximately HK$98.6 million during the year[138]

Financial Performance - Revenue for the six months ended September 30, 2020, was HK$955,834,000, a decrease of 21.6% from HK$1,219,088,000 in 2019[13] - Gross profit increased to HK$140,288,000, up 10.2% from HK$127,326,000 in the previous year[13] - Operating profit for the period was HK$51,475,000, down 9.6% from HK$57,018,000 in 2019[13] - Profit for the period was HK$1,635,000, compared to HK$1,355,000 in 2019, reflecting a growth of 20.7%[13] - Basic earnings per share attributable to owners of the Company was HK0.07 cent, down from HK0.38 cent in the previous year[13] - Total comprehensive income for the period was HK$58,139,000, compared to a loss of HK$79,203,000 in the previous period[18] - Other comprehensive income for the period was HK$56,504,000, a significant recovery from a loss of HK$80,558,000[18] - Profit before income tax was HK$6,741, a decrease from HK$11,329 in the same period of 2019[122] - The company recorded a profit attributable to owners of HK$466, a significant decrease from HK$2,467 in the same period of 2019, resulting in basic earnings per share of HK$0.07 compared to HK$0.38[156] Expenses and Costs - Finance costs decreased to HK$33,489,000 from HK$40,789,000, a reduction of 17.8%[13] - Employee benefit expenses decreased to HK$51,622, down 15.1% from HK$60,783 in 2019[138] - The cost of finished goods sold for the six months ended September 30, 2020, was HK$784,148, a decrease of 25.5% from HK$1,052,293 in 2019[138] - General and administrative expenses decreased significantly to HK$2,940,000 from HK$4,044,000, a reduction of 27.3%[13] - The company incurred capital expenditures of HK$417,000 for property, plant, and equipment during the reporting period[38] Assets and Liabilities - Total assets as of September 30, 2020, amounted to HK$2,872,734,000, up from HK$2,733,049,000 as of March 31, 2020[22] - Total equity increased to HK$974,907,000 from HK$916,768,000, reflecting a growth of 6.3%[22] - Current assets rose to HK$1,051,249,000, compared to HK$940,636,000 in the previous period, indicating an increase of 11.8%[22] - Non-current liabilities decreased to HK$917,945,000 from HK$959,267,000, showing a reduction of 4.3%[26] - Current liabilities increased to HK$979,882,000 from HK$857,014,000, representing a rise of 14.3%[26] - As of September 30, 2020, total financial liabilities amounted to HK$1,865,452,000, with HK$944,835,000 due within one year[90] - Bank borrowings as of September 30, 2020, totaled HK$1,433,504,000, with HK$618,584,000 due within one year[90] Cash Flow - For the six months ended September 30, 2020, the net cash generated from operating activities was HK$107,489,000, compared to a net cash outflow of HK$60,530,000 in the same period of 2019[38] - The net cash inflow from operating activities was HK$73,390,000, a significant recovery from the previous year's outflow[38] - Cash and cash equivalents decreased to HK$95,297,000 from HK$120,045,000, a decline of 20.6%[22] - The company experienced a decrease in cash and cash equivalents of HK$72,599,000 during the financing activities[41] Investments and Acquisitions - The company reported a fair value loss on an investment property of HK$3,783,000, compared to a gain of HK$36,606,000 in the previous year[13] - The Group's investment in Skyline at the end of the period was HK$327,517,000, an increase from HK$276,133,000 in 2019, representing an increase of 18.59%[172] - The acquisition of equity interest in Shanghai Skyway Grand Hotel Co., Ltd. was completed in June 2020, enhancing the company's portfolio in the hospitality sector[175] - The acquisition of Shanghai Segway Grand Hotel Co., Ltd. was completed in June 2020[178] Risk Management - The Group is exposed to commodity price risk due to trading in steel products, with committed sales orders exceeding on-hand inventories[85] - The Group monitors market prices of steel products closely and adjusts procurement strategies to manage price risk from committed sales orders[85] - The Group's activities expose it to various financial risks, including market risk, credit risk, and liquidity risk[83] - There have been no significant changes in risk management policies since the annual financial statements as of March 31, 2020[83] Accounting Policies and Standards - The unaudited condensed consolidated interim financial information for the six months ended 30th September 2020 has been prepared in accordance with HKAS 34 and applicable disclosure requirements[52] - The financial information is presented in Hong Kong dollars (HKD) and has not been audited or reviewed[50][51] - The accounting policies applied are consistent with those of the annual financial statements for the year ended 31st March 2020[54] - New and amended standards not yet adopted include HKFRS 17, effective from 1st January 2021, and Annual Improvements to HKFRS Standards 2018 - 2020, effective from 1st January 2022[58] - The Group is in the process of assessing the impact of the adoption of new and amended standards on its results and financial position[59] Shareholder Information - The company paid dividends relating to 2019 amounting to HK$12,825,000[34] - The company did not declare an interim dividend for the six months ended September 30, 2020, consistent with the previous year[149] - The company’s issued and fully paid share capital was HK$64.1 million as of September 30, 2020, with 641.2 million shares issued[198]