Financial Performance - The company reported total revenue of approximately HKD 233,926,000 for the year ended March 31, 2022, an increase of 46.36% from HKD 159,834,000 in the previous year[10]. - Gross profit for the year was approximately HKD 1,097,000, with a gross margin of 0.47%, down from 2.09% in the previous year, primarily due to a low-margin sales strategy in a challenging economic environment[10]. - Administrative expenses increased by 17.11% to approximately HKD 31,499,000, while financial costs rose by 56.69% to approximately HKD 34,267,000, mainly due to increased interest on convertible bonds[10]. - The company recorded a loss attributable to owners of approximately HKD 127,083,000, compared to a loss of HKD 17,932,000 in the previous year[11]. - Total borrowings amounted to approximately HKD 187,309,000, including convertible bonds of approximately HKD 182,303,000, reflecting an increase from HKD 127,815,000 in the previous year[12]. - The company's debt-to-asset ratio (excluding cash and cash equivalents) was approximately 125.0%, up from 68.90% in the previous year, primarily due to the increase in the fair value of convertible bond liabilities[14]. Operational Strategy - The company plans to enhance operational efficiency by standardizing procedures and simplifying processes, as well as strengthening budget management and cost control measures[17]. - The company is actively seeking growth opportunities for acquisitions or investments and is in discussions with multiple parties regarding such opportunities[19]. - The company intends to conduct fundraising activities, such as share placements or loan capitalization, to strengthen and improve its financial position[19]. Corporate Governance - The board does not recommend the distribution of a final dividend for the fiscal year ending March 31, 2022, consistent with the previous year[37]. - As of March 31, 2022, the company had no reserves available for distribution to shareholders, unchanged from the previous year[43]. - The financial performance and position of the group for the fiscal year ending March 31, 2022, are detailed in the consolidated financial statements on pages 65 to 133[36]. - The group’s financial risk management objectives and policies are outlined in the consolidated financial statements, indicating a structured approach to managing potential risks[35]. - The board is responsible for overseeing the company's business strategies, policies, and annual budgets[92]. - The board is responsible for the risk management and internal control systems, which are continuously reviewed for effectiveness[132]. Shareholder Information - The company reported a total of 1,554,338,600 shares held by controlling entities, representing 72.66% of the total issued share capital[53]. - The beneficial owner, Mr. Lin Qingqu, holds 38,481,000 shares, accounting for 1.8% of the total shares[53]. - The company has a sufficient public float, with at least 25% of the issued shares held by the public[72]. - The company did not purchase, sell, or redeem any of its listed securities during the year ended March 31, 2022[76]. Employee and Management - The group employed a total of 17 employees as of March 31, 2022, primarily based in Hong Kong[78]. - The company has fully complied with all obligations to employees, including salaries, benefits, and insurance[200]. - The independent non-executive directors have service agreements for a term of two years, which can be terminated with one month's written notice[45]. - The company emphasizes continuous professional development for all directors to ensure they remain informed and effective in their roles[106]. Environmental, Social, and Governance (ESG) - The company is committed to environmental sustainability and compliance with applicable laws and regulations in its operations[81]. - The group aims to become a leading network systems integrator and software developer, focusing on providing financial returns to shareholders and value to other stakeholders[144]. - The board is responsible for overseeing environmental, social, and governance (ESG) matters, ensuring management has the necessary tools and resources to monitor these issues[146]. - The report emphasizes the importance of stakeholder engagement and transparency in operations, with various communication channels established for feedback[157]. - The total greenhouse gas emissions for the year 2022 were 20.46 tons of CO2 equivalent, a decrease of 2.84 tons compared to 2021[170]. Audit and Compliance - The consolidated financial statements for the year ended March 31, 2022, have been audited by Zhonghui Anda CPA Limited[87]. - The audit committee conducted two meetings during the year, reviewing the audited financial statements and ensuring compliance with accounting principles and regulations[118]. - The audit committee expressed satisfaction with the independence of the external auditor and the audit process for the year ending March 31, 2022[119]. - The company has adopted a share option scheme, but no options were granted or exercised during the reporting period[61].

Financial Performance - For the six months ended September 30, 2021, the company recorded a revenue of approximately HKD 124,994,000, representing a 93% increase compared to HKD 64,797,000 for the same period last year[11] - The sales and integrated services segment generated approximately HKD 41,238,000 in revenue, while the general trade segment's agricultural product trade recorded approximately HKD 27,031,000 in revenue, with no revenue generated in these segments during the same period last year[11] - Gross profit for the six months ended September 30, 2021, was approximately HKD 279,000, an increase of about HKD 75,000 from approximately HKD 204,000 in the same period last year[11] - Revenue for the six months ended September 30, 2021, was HKD 124,994,000, representing a significant increase from HKD 64,797,000 in the same period of 2020, which is a growth of approximately 93%[50] - The gross profit for the same period was HKD 279,000, compared to HKD 204,000 in 2020, indicating a slight increase of about 36.7%[50] - The company reported a loss before tax of HKD 27,298,000 for the six months ended September 30, 2021, compared to a loss of HKD 18,136,000 in 2020, reflecting an increase in losses of approximately 50.6%[50] - Total comprehensive loss for the period was HKD 27,695,000, compared to HKD 19,256,000 in the previous year, marking an increase of about 43.9%[52] - The company reported a total of HKD 30,021,000 in contract liabilities as of September 30, 2021, indicating a significant increase in future revenue obligations[106] Expenses and Costs - Administrative expenses decreased by 14.2% to approximately HKD 10,394,000 from approximately HKD 12,118,000 in the previous year[12] - Financial costs increased by 144% to approximately HKD 17,214,000 from approximately HKD 7,056,000 in the same period last year, primarily due to interest from convertible bonds[12] - The group reported a segment loss of HKD 1,752,000 for the six months ended September 30, 2021, with unallocated company expenses of HKD 8,351,000[72] - The group’s financial costs for the period were HKD 17,214,000, contributing to the overall loss[72] Shareholder Information - The company reported a loss attributable to shareholders of approximately HKD 26,866,000 for the six months ended September 30, 2021, compared to a loss of approximately HKD 17,758,000 in the same period last year[12] - Basic and diluted loss per share increased to HKD 1.26 from HKD 0.83, representing a rise of approximately 52%[50] - The board decided not to declare an interim dividend for the six months ended September 30, 2021[22] Assets and Liabilities - Total borrowings amounted to approximately HKD 137,101,000, up from approximately HKD 127,815,000 as of March 31, 2021[13] - The company's net debt to total assets ratio was approximately 114.2%, compared to 68.9% as of March 31, 2021[14] - Cash and cash equivalents were approximately HKD 5,351,000 as of September 30, 2021, down from approximately HKD 19,705,000 as of March 31, 2021[14] - Non-current assets decreased from HKD 12,080,000 as of March 31, 2021, to HKD 7,658,000 as of September 30, 2021, indicating a decline of approximately 36.5%[54] - Current assets also decreased from HKD 144,777,000 to HKD 107,697,000, a reduction of about 25.6%[54] - Current liabilities decreased from HKD 144,077,000 to HKD 100,125,000, showing a decline of approximately 30.6%[54] - The company's total equity attributable to owners decreased from HKD (106,970,000) to HKD (134,207,000), indicating a worsening of approximately 25.4%[56] - The group recorded a net debt of approximately HKD 117,394,000, indicating significant uncertainty regarding the group's ability to continue as a going concern[64] Cash Flow and Financing - Cash and cash equivalents at the end of the period were HKD 26,137,000, compared to HKD 5,351,000 at the beginning of the period[59] - The net cash generated from investing activities was HKD 866,000 for the period[59] - The group repaid borrowings of HKD 18,984,000 during the financing activities[59] - The group experienced a foreign exchange loss of HKD 568,000 during the period[59] - The company has drawn loans of approximately HKD 16,011,000 and has secured undrawn loan financing of about HKD 83,989,000 from its ultimate holding company, Wai Chun Investment Fund[64] - Wai Chun Investment Fund will not require the company to repay these loans until all other liabilities of the group are settled[64] - The chairman has committed to providing sufficient funds to ensure the group can meet its third-party liabilities and financial debts for the next twelve months[64] - The group is in discussions with potential investors to raise sufficient funds through financing arrangements[64] Corporate Governance and Compliance - The company has adopted the standard code of conduct for securities trading by directors as per the listing rules, and all directors confirmed compliance as of September 30, 2021[35] - The company adhered to all relevant corporate governance code provisions during the six months ended September 30, 2021, except for provisions A.2.1 and A.4.1 regarding the separation of the roles of Chairman and CEO[36] - The audit committee, consisting of two independent non-executive directors, reviewed the group's unaudited interim financial results for the six months ended September 30, 2021[43] Strategic Initiatives - The company aims to enhance operational efficiency through standardized procedures and strict cost control measures to restore profitability[21] - The group is actively pursuing strategic acquisitions to secure new business opportunities and strengthen revenue and profit foundations[66] - The group is in discussions with multiple parties regarding potential acquisitions or investments with growth potential[66] Employee and Management - The company expressed gratitude to all employees and management for their contributions during the period and thanked shareholders and investors for their continued support[47] - The total remuneration for key management personnel for the six months ended September 30, 2021, is HKD 1,956,000, compared to HKD 2,241,000 for the same period in 2020[122] Related Party Transactions - The company incurred related party transactions, including lease interest expenses of HKD 264,000 and salaries of HKD 270,000 for the six months ended September 30, 2021[120]

Financial Performance - The group recorded total revenue of approximately HKD 159,834,000 for the year ended March 31, 2021, representing an increase of about 18.6% compared to HKD 134,755,000 in 2020[8] - The general trading segment's revenue increased by approximately 65.5% to about HKD 129,514,000, driven by agricultural product trading, which contributed approximately HKD 58,743,000[8] - Gross profit for the year was approximately HKD 3,341,000, a decrease of about 41.4% from HKD 5,705,000 in 2020, resulting in a gross margin of approximately 2.1%[8] - The loss attributable to owners of the company was approximately HKD 17,932,000, an improvement from a loss of HKD 28,094,000 in 2020[10] - As of March 31, 2021, the company's net liabilities amounted to approximately HKD 89,699,000, indicating significant uncertainty regarding its ability to continue as a going concern[200] Expenses and Financial Costs - Administrative expenses increased by 16.5% to approximately HKD 26,898,000 from HKD 23,092,000 in 2020[9] - Financial costs rose by approximately 141.8% to about HKD 21,869,000, primarily due to increased interest on convertible bonds[9] - Total borrowings amounted to approximately HKD 127,815,000, down from HKD 179,141,000 in 2020, including convertible bonds of about HKD 83,953,000[11] Dividend and Shareholder Information - The group did not recommend the payment of a final dividend for the year ended March 31, 2021[14] - As of March 31, 2021, Lin Qingqu holds 1,592,819,600 shares, representing 74.46% of the company[46] - The beneficial owner of Wai Chun Investment Fund also holds 1,554,338,600 shares, which is 72.66% of the company[50] Corporate Governance and Compliance - The company has committed to enhancing corporate governance quality to attract investment and protect shareholder rights[80] - The company has adhered to the corporate governance code as per the listing rules, with some deviations noted in the separation of the roles of chairman and CEO[81] - The board of directors is composed of experienced individuals, ensuring a balance of executive and non-executive directors to oversee the company's business and affairs[84] - The company has adopted a code of conduct for directors' securities trading, ensuring compliance with the standards set out in the listing rules[116] - The company has confirmed that public shareholders hold at least 25% of the issued shares as required by listing rules[65] Environmental and Sustainability Initiatives - The company is committed to long-term sustainability through responsible resource use and compliance with environmental laws[72] - The total greenhouse gas emissions for the year 2021 were 23.30 tons of CO2 equivalent, a reduction of 17.18 tons compared to 2020[151][152] - The company implemented various energy-saving measures, including encouraging employees to use video conferencing to reduce unnecessary travel[150] - The group adheres to the 5R principles (Reduce, Reuse, Recycle, Refuse, Recover) to promote resource conservation and environmental responsibility[161] - The company is committed to sustainable operations and resource conservation, despite not generating significant harmful emissions[147] Employee and Labor Practices - The company has five major customers accounting for approximately 95% of total revenue, with the largest customer contributing about 46%[66] - The company has 19 employees as of March 31, 2021, primarily located in Hong Kong, and offers competitive compensation and performance-based bonuses[71] - The group emphasizes employee health and safety, ensuring compliance with legal safety regulations and providing a safe working environment[171] - The employee demographic breakdown shows 50% male and 50% female, with 33% of employees aged 30-50 and 22% aged over 50[169] - There were no significant violations of labor laws or regulations reported in 2021, and no substantial fines or non-monetary sanctions were incurred[168] Strategic Initiatives and Future Plans - The group aims to enhance operational efficiency through rigorous project selection and strict cost control measures[15] - The company plans to launch a new agricultural business in the current year[15] - Future strategies include standardizing procedures and simplifying operations to eliminate redundancies and bottlenecks[15] - The group is actively seeking acquisition or investment opportunities with growth potential[15] - The company intends to conduct fundraising activities, such as share placements or loan capitalization, to improve its financial position[15] Audit and Internal Controls - The audit committee has reviewed the audited consolidated financial statements for the year ending March 31, 2021, ensuring compliance with financial reporting procedures and internal controls[105][109] - The internal audit function is outsourced and reports directly to the audit committee, ensuring effective oversight of internal audit results and management responses[125] - The board believes that the internal control system and risk management were adequate and effective during the financial year[126] - The audit committee expressed satisfaction with the independence of the auditors and the audit process for the year ending March 31, 2021[108] Community Engagement and Social Responsibility - Community investment initiatives include supporting training for competitive software designers and engineers, encouraging employee participation in volunteer services[188] - The group actively supports environmental and social initiatives while conducting its business operations[188] - The group has established an internal audit system to prevent bribery and corruption, with no records of bribery or corruption during the reporting period[186]

Financial Performance - Revenue for the six months ended September 30, 2020, was HKD 64,797,000, a decrease of 20.7% compared to HKD 81,795,000 in 2019[36]. - Gross profit for the same period was HKD 204,000, down 92.4% from HKD 2,667,000 in 2019[36]. - The company reported a loss before tax of HKD 18,136,000, compared to a loss of HKD 11,963,000 in the previous year, representing a 51.5% increase in losses[36]. - Basic and diluted loss per share was HKD 0.083, compared to HKD 0.059 in 2019, indicating a 40.7% increase in loss per share[36]. - Total comprehensive loss for the period was HKD 19,256,000, compared to HKD 10,404,000 in 2019, reflecting an increase of 84.5%[39]. - The group reported a total loss for the period of HKD 18,136,000, compared to a loss of HKD 11,963,000 in the previous year, indicating a decline in performance[63][65]. - The segment performance for general trading showed a loss of HKD 271,000 for the six months ended September 30, 2020, compared to a profit of HKD 1,395,000 in the same period of 2019[63][65]. Financial Position - Total borrowings increased to approximately HKD 254,949,000 as of September 30, 2020, up from approximately HKD 179,141,000 as of March 31, 2020[11]. - The group's net debt to total assets ratio rose to approximately 219.5%, an increase of 31.1% compared to 188.4% at the end of the previous fiscal year[11]. - Cash and cash equivalents amounted to approximately HKD 26,137,000, compared to approximately HKD 12,008,000 as of March 31, 2020[11]. - The company’s total liabilities as of September 30, 2020, were HKD 211,925,000, compared to HKD 192,668,000 at the end of March 2020, representing a 9.7% increase[41]. - Total liabilities increased to HKD 316,286,000 as of September 30, 2020, compared to HKD 281,079,000 as of March 31, 2020[68]. - As of September 30, 2020, the group reported total liabilities exceeding total assets by approximately HKD 211,925,000, with a capital deficit attributable to owners of approximately HKD 208,442,000[51]. Cash Flow and Liquidity - The company reported a net cash inflow from operating activities of HKD 1,941,000, up from HKD 1,679,000 in the previous year, indicating a 15.6% increase[45]. - Cash and cash equivalents at the end of the period increased to HKD 26,137,000 from HKD 6,968,000, showing a significant improvement in liquidity[45]. - The board has reviewed cash flow forecasts for the next twelve months, believing the group will have sufficient cash resources to meet its operational and debt obligations[53]. Corporate Governance - The company has established an audit committee to oversee financial reporting and internal controls, which is currently composed of three independent non-executive directors[31]. - The company has complied with the corporate governance code, except for the separation of the roles of Chairman and CEO, which are held by Lin Qingqu[29]. - The company announced the appointment of Chan Dai-yung as an independent non-executive director on July 2, 2020, to address a vacancy in the audit committee[32]. Strategic Plans and Outlook - The company plans to improve its financial condition through fundraising activities such as share placements or loan capitalization[12]. - The company is actively seeking acquisition or investment opportunities with growth potential and is in discussions with several independent third parties[9]. - Future outlook includes improving operational efficiency through standardized procedures and strict cost control measures[8]. - The group anticipates a gradual recovery in revenue from sales and integrated services in the second half of 2020[8]. - The company plans to implement strategic acquisitions to seek more business opportunities in the Chinese market, aiming to increase revenue and profit base[55]. - The company will consider capital-raising activities, such as rights issues or loan capitalizations, to strengthen its capital base if necessary[54]. Shareholder Information - The board decided not to declare an interim dividend for the six months ended September 30, 2020, consistent with the previous year[14]. - As of September 30, 2020, major shareholder Lin Qingqu holds 15,928,196,000 shares, representing 74.46% of the company's equity[19]. - Jia Jun Holdings Limited and Wei Jun Investment Fund each hold 15,543,386,000 shares, accounting for 72.66% of the company's equity[19]. - The company's issued ordinary shares as of September 30, 2020, totaled 21,391,163, with a total share capital of HKD 213,912,000[103]. Employee and Management Information - The company has a total of 15 employees as of September 30, 2020, primarily based in Hong Kong[22]. - The remuneration for key management personnel was HKD 180,000 for the six months ended September 30, 2020, a decrease from HKD 290,000 in the same period of the previous year[116]. - The company expresses gratitude to employees and management for their contributions during the period and appreciates the ongoing support from shareholders and investors[35]. Legal and Compliance Matters - The group is involved in a legal dispute with a supplier, with claims amounting to approximately HKD 9,281,000 for trade payables and HKD 1,650,000 for overdue settlement and legal fees[122]. - The group has not reported any significant changes in its risk management policies since the year-end[120]. - The financial report is prepared in accordance with Hong Kong Financial Reporting Standards and includes interim financial statements and selected explanatory notes[48].

Financial Performance - The group recorded total revenue of approximately HKD 134,755,000 for the year ended March 31, 2020, a decrease of about 34.2% compared to HKD 204,875,000 in 2019[7]. - Gross profit for the year was approximately HKD 5,705,000, down about 23.4% from HKD 7,444,000 in 2019, with a gross margin of approximately 4.2%[7]. - The group reported a loss attributable to owners of approximately HKD 28,094,000 for the year, compared to HKD 28,771,000 in 2019[9]. - The company has no distributable reserves available for shareholders as of March 31, 2020, the same as the previous year[35]. - The group recorded current liabilities and net liabilities of approximately HKD 77,501,000 and HKD 192,668,000, respectively[195]. - The capital deficiency attributable to owners was approximately HKD 190,459,000, indicating significant uncertainty regarding the group's ability to continue as a going concern[195]. - The group’s financial statements were prepared on a going concern basis, despite the significant uncertainties highlighted[195]. Cost Management - Administrative expenses decreased by 4.5% to HKD 23,092,000 from HKD 24,192,000 in 2019 due to stricter cost control measures[8]. - The group plans to enhance operational efficiency through standardized procedures and cost control measures to restore profitability[16]. Borrowings and Financial Position - Total borrowings amounted to approximately HKD 179,141,000, slightly down from HKD 180,242,000 in 2019[10]. - The asset-to-liability ratio (after deducting cash and cash equivalents) was approximately 189.0%, up from 133.7% in 2019[12]. - The group intends to conduct fundraising activities, such as share placements or loan capitalizations, to strengthen its financial position[16]. Dividends - No final dividend was recommended for the year ended March 31, 2020[13]. - The company did not recommend the distribution of a final dividend for the year ending March 31, 2020, consistent with the previous year[30]. Governance and Compliance - The board of directors includes independent non-executive directors who have confirmed their independence according to the listing rules[37]. - The company has established service agreements with executive directors for a term of up to three years, continuing until terminated with one month's notice[38]. - The company has confirmed compliance with the standards set out in the code of conduct for securities trading by directors[58]. - The company has complied with the public float requirement, with at least 25% of issued shares held by the public as of the report date[66]. - The company has adhered to the corporate governance code but has deviated from specific provisions regarding the tenure of non-executive directors[83]. Risk Management - The group’s financial risk management objectives and policies are outlined in the financial statements[28]. - The company emphasizes the importance of internal control systems and risk management, with the board playing a crucial role in overseeing these functions[86]. - The internal control and risk management systems were deemed sufficient and effective by the board during the financial year[131]. Employee Information - The group has a total of 15 employees, primarily located in Hong Kong, and provides competitive compensation along with discretionary bonuses based on performance[72]. - The total number of employees as of March 31, 2020, is 15, a decrease from 23 in 2019, with 10 in Hong Kong and 5 in Beijing[163]. - Gender distribution among employees in 2020 is 8 males to 7 females, compared to 13 males to 10 females in 2019[163]. - The company has maintained compliance with all statutory obligations regarding employee compensation, benefits, and welfare, with no complaints or disputes reported during the reporting period[163]. Environmental Responsibility - The company is committed to long-term sustainability through responsible resource use and compliance with applicable environmental laws and regulations[74]. - The company has implemented various energy-saving measures to reduce carbon emissions and is monitoring energy consumption closely[153]. - The company adheres to the "5R" principles (Reduce, Reuse, Recycle, Refuse, Recover) to promote resource conservation and environmental responsibility[158]. - The company has not received any penalties or warnings from environmental authorities regarding air, water, or waste pollution during the reporting period[150]. Stakeholder Engagement - The company engages with stakeholders through various communication channels, including annual performance evaluations and investor briefings[142]. - The company maintains open communication with stakeholders, including regular meetings with regulatory bodies and community engagement initiatives[142]. Audit and Financial Review - The audit committee reviewed the audited financial statements for the year ending March 31, 2020, and expressed satisfaction with the independence of the auditors[111]. - The total audit service fee received by the company for the year ended March 31, 2020, was HKD 500,000[122]. - The independent auditor's report emphasized the importance of the impairment assessment of trade and other receivables as a key audit matter[198].

Financial Performance - The group recorded a revenue of approximately HKD 81,795,000 for the six months ended September 30, 2019, a decrease of 26% compared to HKD 109,880,000 for the same period in 2018[5]. - Gross profit was approximately HKD 2,667,000 with a gross margin of 3.3%, an increase of approximately HKD 1,283,000 and 2.0 percentage points from the previous year's gross profit of HKD 1,384,000 and gross margin of 1.3%[5]. - The loss attributable to owners of the company was approximately HKD 12,639,000, a reduction of approximately HKD 1,018,000 or 7.45% from the loss of HKD 13,657,000 in the previous year[5]. - The company reported a total comprehensive loss of HKD 10,404,000 for the period, an improvement from HKD 12,905,000 in the previous year[36]. - The company reported a net foreign exchange loss of HKD 524,000 for the six months ended September 30, 2019, compared to a loss of HKD 8,000 in the previous year[93]. - The company incurred a trade receivables impairment loss of HKD 231,000 for the six months ended September 30, 2019, compared to HKD 2,975,000 in the same period of 2018[85]. - The company reported a loss before tax of HKD 15,870,000 for the six months ended September 30, 2019, compared to a loss of HKD 15,870,000 in the previous year[80]. Financial Position - The group had total borrowings of approximately HKD 154,601,000 as of September 30, 2019, down from HKD 180,242,000 as of March 31, 2019[9]. - The net debt to total assets ratio was approximately 139%, an increase of 5.3% from 133.7% at the end of the previous fiscal year[9]. - Total liabilities exceeded total assets by approximately HKD 180,472,000 as of September 30, 2019, raising concerns about the company's ability to continue as a going concern[33]. - The total liabilities increased to HKD 286,877,000 as of September 30, 2019, compared to HKD 280,952,000 as of March 31, 2019[83]. - The total equity attributable to owners decreased to HKD (176,491,000) from HKD (163,891,000) as of March 31, 2019, reflecting ongoing financial challenges[39]. - The company’s current liabilities exceeded current assets, resulting in a negative net current liabilities of HKD (72,059,000)[37]. Cash Flow - The company reported a net cash inflow from operating activities of HKD 1,679,000, a significant improvement from a cash outflow of HKD 31,143,000 in the previous period[40]. - Financing activities resulted in a net cash outflow of HKD 25,090,000, contrasting with a net inflow of HKD 13,785,000 in the same period last year[40]. - The cash and cash equivalents at the end of the period were HKD 6,968,000, down from HKD 34,481,000 at the end of the previous period[40]. Corporate Governance - The company has established an audit committee to oversee financial reporting and internal controls, as required by listing rules[24]. - The audit committee reviewed the group's unaudited interim financial performance for the six months ending September 30, 2019[25]. - The company has complied with the corporate governance code, with some deviations noted regarding the roles of the chairman and CEO[23]. - The company will take measures to fill vacancies in the audit committee and comply with listing rules following the passing of an independent non-executive director[24]. Shareholder Information - As of September 30, 2019, Mr. Lin Qingqu holds 16,005,330,000 shares, representing 74.82% of the company's equity[15]. - Supreme Union Holdings Limited, wholly owned by Mr. Lin, holds 15,543,386,000 shares, accounting for 72.66% of the company's equity[16]. - The company did not declare an interim dividend for the six months ended September 30, 2019, consistent with the previous year[100]. Strategic Plans - The group plans to improve its financial condition through fundraising activities such as share placements or loan capitalization if necessary[10]. - The company is actively seeking acquisition or investment opportunities with growth potential and is in discussions with several independent third parties regarding such acquisitions or investments[8]. - The company plans to implement strategic acquisitions to seek more business opportunities in the Chinese market, aiming to increase revenue and profit base[49]. Accounting Standards - The group has adopted new accounting standards, including HKFRS 16 on leases, which may impact its financial reporting[51]. - The application of HKFRS 16 requires the recognition of right-of-use assets and lease liabilities, affecting the group's financial position[58]. - The company recognized lease liabilities of approximately HKD 11,462,000 and corresponding right-of-use assets of HKD 11,462,000 as of April 1, 2019[67]. Employee Information - The group had a total of 18 employees as of September 30, 2019, with a focus on providing a good working environment and performance-based compensation[18]. Financial Risks - The group is exposed to various financial risks, including market risk (foreign exchange and interest rate risk), credit risk, and liquidity risk[137].

Financial Performance - The company's revenue increased by 93.0% to approximately HKD 204,875,000 for the year ended March 31, 2019, compared to HKD 106,153,000 in 2018[9] - The gross profit for the year was approximately HKD 7,444,000, with a gross margin of 3.6%, down from 5.6% in 2018[9] - The company reported a loss attributable to owners of approximately HKD 28,771,000, an improvement from a loss of HKD 33,505,000 in 2018[11] - The total liabilities of the group exceeded its assets by approximately HKD 170,068,000 and the owner's equity deficit was about HKD 163,891,000 as of March 31, 2019[130] - The group reported a loss of approximately HKD 28,771,000 for the year ended March 31, 2019[130] Cost Management - Selling and distribution expenses decreased by 99% to approximately HKD 18,000, compared to HKD 2,323,000 in 2018, due to cost control measures[9] - Administrative expenses decreased by approximately HKD 4,484,000 (15.6%) compared to the previous year due to stricter cost control[9] - The board is implementing measures to improve the group's working capital and cash flow, including close monitoring of general administrative expenses and operating costs[131] Financial Position and Strategy - The total borrowings of the group were approximately HKD 180,242,000, down from HKD 194,855,000 in 2018[12] - The asset-to-liability ratio (after deducting cash and cash equivalents) increased to 133.7% from 120.4% in 2018[15] - The company intends to conduct fundraising activities, such as share placements or loan capitalization, to improve its financial position[19] - The board believes that the group will have sufficient cash resources to meet its operational funding and other financing needs for the next twelve months[133] - The company is considering improving its financial position and expanding its capital base, which may include fundraising activities such as rights issues or loan capitalization if necessary[131] Governance and Compliance - The board of directors includes experienced members with extensive backgrounds in finance and law, enhancing governance and strategic oversight[39] - The board has confirmed their independence, aligning with corporate governance standards[40] - The company has complied with the corporate governance code as per the listing rules, although it deviated from certain provisions regarding the separation of roles between the chairman and CEO[88] - The independent non-executive directors have reviewed related party transactions and deemed them to be conducted on normal commercial terms and in the best interest of shareholders[66] - The company confirmed its responsibility for preparing consolidated financial statements in compliance with statutory requirements and applicable accounting standards[128] Environmental Performance - The company continues to enhance its environmental performance as a key part of its business strategy and operations[78] - The company successfully reduced indirect carbon dioxide emissions to 31.88 tons, a decrease of 34.6 tons or 52% compared to the previous reporting period[153] - Total direct and indirect greenhouse gas emissions amounted to 36.3 tons, down by 31.19 tons or 46.2% from the previous period[153] - The company's total electricity consumption for the year was 39,100 kWh, a reduction of 34,460 kWh or 46.8% compared to the previous year[159] - The company has adopted the 5R principles (Reduce, Reuse, Recycle, Refuse, Recover) to promote resource conservation and environmental responsibility[163] Employee and Labor Practices - The company employed a total of 23 employees as of March 31, 2019, primarily based in Hong Kong, and provided discretionary bonuses based on performance[76] - The total number of employees increased from 21 in 2018 to 23 in 2019, with 14 in Hong Kong and 9 in Beijing[172] - The company provided statutory benefits including mandatory provident fund for Hong Kong employees and unemployment, retirement, and housing insurance for Chinese employees[172] - Employee training programs were implemented to enhance skills and safety awareness, with basic business skills training provided to new hires[180] - The company adopted a "people-oriented" human resources policy to ensure a safe and healthy work environment[176] Risk Management - The financial risk management objectives and policies are detailed in the annual report, indicating a structured approach to managing potential risks[30] - The internal audit function is outsourced and reports directly to the audit committee, ensuring oversight of the internal audit results and management's responses[136] - The board has determined that the internal control system and risk management were adequate and effective during the financial year[137] Community Engagement - The group supports community investment by allocating resources to train competitive and innovative software designers and developers[194] - The group encourages employees to participate in volunteer services and charitable activities, providing paid leave for such participation[194]