Financial Performance - Revenue for the six months ended September 30, 2022, was HKD 2,452,000, a decrease of 30% compared to HKD 3,496,000 for the same period in 2021[9]. - Gross profit increased to HKD 2,135,000, up 11% from HKD 1,922,000 year-on-year[9]. - Loss before tax for the period was HKD 45,112,000, significantly improved from a loss of HKD 547,549,000 in the previous year[9]. - Total comprehensive loss for the period amounted to HKD 481,727,000, compared to a loss of HKD 466,323,000 in the same period last year[10]. - The company reported a total comprehensive loss of HKD 483,443 for the six months ended September 30, 2022[17]. - The company incurred a total loss before tax of HKD 45,112,000 for the six months ended September 30, 2022, compared to a loss of HKD 547,549,000 for the same period in 2021[23]. - The company reported a net loss from joint ventures of HKD 825,000 and from associates of HKD 23,000, contributing to the overall financial performance[23]. - The company reported a loss of HKD 43,992,000 for the six months ended September 30, 2022, compared to a loss of HKD 462,617,000 for the same period in 2021, indicating a significant improvement[32]. Assets and Liabilities - Non-current assets decreased to HKD 587,577,000 from HKD 640,392,000 as of March 31, 2022[12]. - Current assets decreased to HKD 6,432,488,000 from HKD 7,331,281,000, indicating a reduction in liquidity[12]. - Total liabilities decreased from HKD 3,064,452,000 to HKD 2,787,768,000, reflecting improved financial stability[12]. - As of September 30, 2022, net current assets decreased to HKD 3,644,720, down from HKD 4,266,829 as of March 31, 2022, representing a decline of approximately 14.6%[13]. - Total assets less current liabilities decreased to HKD 4,232,297 from HKD 4,907,221, indicating a reduction of about 13.7%[13]. - Non-current liabilities decreased to HKD 1,187,732 from HKD 1,380,930, a decrease of approximately 14%[13]. - Net assets as of September 30, 2022, were HKD 3,044,565, down from HKD 3,526,291, reflecting a decline of about 13.6%[13]. - The total amount of other payables and accrued liabilities was HKD 1,995,892,000 as of September 30, 2022, compared to HKD 2,140,003,000 as of March 31, 2022, reflecting a reduction of approximately 6.7%[46]. Cash Flow and Financing - The company reported a net cash outflow from operating activities of HKD 14,652 for the six months ended September 30, 2022, compared to HKD 151,609 for the same period in 2021[18]. - Cash and cash equivalents at the end of the period were HKD 153,029, down from HKD 338,180, a decrease of approximately 54.7%[19]. - The company raised HKD 77,396 in new bank and other borrowings during the six months ended September 30, 2022, compared to HKD 462,104 in the same period of the previous year[19]. - The company has secured bank loans totaling HKD 1,381,901,000 as of September 30, 2022, compared to HKD 1,631,895,000 as of March 31, 2022, reflecting a decrease of about 15.3%[49]. - The group's total bank and other borrowings amounted to approximately HKD 1,304,505,000, with a floating interest rate ranging from 2.47% to 6.50%[50]. - The total financing granted to the company was HKD 5,307,151,000 as of September 30, 2022, down from HKD 5,918,546,000 as of March 31, 2022, indicating a reduction of about 10.3%[49]. Operational Highlights - The property development segment reported no sales to external customers, while the property investment segment generated rental income of HKD 2,452,000, up from HKD 2,344,000 in the previous year[23]. - There was no revenue from property sales during the period, while last year, property sales contributed 33% of total revenue[64]. - Rental income slightly increased from HKD 2.3 million to HKD 2.5 million compared to the same period last year[66]. - The company plans to continue seeking investment and sale opportunities in property development and land development projects in China[61]. - The company has been gradually withdrawing from project management services, resulting in a loss of approximately HKD 0.8 million for the period[68]. - The group plans to continue seeking opportunities for urban redevelopment projects to supplement its property portfolio[85]. Cost Management - The company reported a significant reduction in administrative expenses to HKD 39,644,000 from HKD 54,830,000, indicating cost control measures[9]. - Interest expenses on bank loans decreased to HKD 46,517,000 from HKD 101,110,000 year-on-year, reflecting a reduction of approximately 54%[28]. - The capitalized borrowing costs for the period were HKD 11,139,000, down from HKD 118,986,000 in the previous year, indicating a significant reduction in capitalized costs[28]. - Employee costs for the period were approximately HKD 23 million, down from HKD 24.7 million in the previous year, with around 44 employees as of September 30, 2022, compared to 80 in the previous year[83]. Shareholder Information - Major shareholders include Yang Xunxin with a 36.93% stake and Shenzhen Holdings Limited with a 15.22% stake as of September 30, 2022[90]. - The group’s total issued and paid-up ordinary shares remained at 4,146,020,285 shares with a par value of HKD 0.10 as of September 30, 2022[51]. Governance and Risk Management - The board believes that the current governance structure, with the chairman also serving as the CEO, does not impair the balance of power and authority within the company[92]. - The audit committee and management reviewed the accounting policies and practices adopted by the group, including internal controls, risk management, and financial reporting matters[97]. - The group continues to monitor foreign exchange risks and will consider hedging strategies as necessary[82]. Market Outlook - The group remains cautiously optimistic about the real estate market despite challenges posed by the COVID-19 pandemic and credit crises affecting major players in the industry[85]. - The majority of the group's income and expenses are denominated in RMB, and it does not expect significant adverse impacts from currency fluctuations in the foreseeable future[82].

Financial Performance - The company reported a revenue of HKD 6.741 million for the fiscal year ending March 31, 2022, a significant decrease from HKD 129.588 million in the previous year, representing a decline of approximately 94.8%[16] - The pre-tax loss for the year was HKD 1.085618 billion, compared to a loss of HKD 286.497 million in the previous year, indicating a worsening financial performance[16] - The loss attributable to shareholders for the year was HKD 942.595 million, compared to a loss of HKD 281.028 million in the prior year, reflecting an increase in losses of approximately 235%[16] - Total assets decreased to HKD 7.972 billion from HKD 9.969 billion year-over-year, a decline of about 20%[17] - Total liabilities also decreased to HKD 4.445 billion from HKD 5.533 billion, a reduction of approximately 19.7%[17] - The company's equity attributable to shareholders decreased to HKD 3.589 billion from HKD 4.363 billion, a decline of about 17.7%[17] - Revenue from property sales was HKD 2.117 million, down from HKD 124.669 million in the previous year, a decrease of approximately 98.3%[19] - Rental income was HKD 4.624 million, slightly down from HKD 4.919 million, indicating a decrease of about 6%[19] - The company did not recommend any dividend distribution for the fiscal year[24] Strategic Focus - The company is focusing on strategic investments and project management services to improve future performance[22] - The group remains cautiously optimistic about the real estate market despite uncertainties caused by credit crises among major Chinese real estate companies[26] - The group will continue to seek opportunities for urban redevelopment as a strategy to supplement its low-cost land reserves[28] - The group plans to continue seeking investment opportunities in property development and land development projects in China[36] - The group aims to adapt its business strategies based on government policy directions in response to market changes[26] Operational Efficiency - The company plans to continue implementing cost control measures to enhance operational efficiency, with administrative expenses slightly reduced by about 3% to HKD 116.6 million[57] - The company has no revenue from project management services this year, as it is gradually exiting this business segment[54] - The gross profit margin for the year was approximately 61%, significantly up from 26% last year, mainly due to changes in the revenue mix[55] - The company's net debt ratio improved from 55% to 36%, attributed to the repayment of approximately HKD 1.6042 billion in loans during the year[64] - Total bank and other borrowings decreased to HKD 16.319 billion from HKD 28.957 billion last year, with long-term borrowings now representing about 83% of total borrowings[65] Environmental, Social, and Governance (ESG) Initiatives - The company has established a governance framework for environmental, social, and governance (ESG) issues, integrating top-down strategies with bottom-up operational processes[79] - The board is responsible for overseeing the group’s ESG policies and ensuring effective risk management related to sustainability[81] - The company aims to reduce greenhouse gas emissions density by 10% by the fiscal year ending March 31, 2025, using the fiscal year 2021 as the baseline[96] - Direct greenhouse gas emissions (Scope 1) decreased from 9.80 tCO2 equivalent in 2021 to 7.35 tCO2 equivalent in 2022[96] - Total greenhouse gas emissions dropped from 51.93 tCO2 equivalent in 2021 to 39.37 tCO2 equivalent in 2022, indicating a significant reduction[96] - The company has set a target to reduce non-hazardous waste density by 10% by the fiscal year 2025, based on the fiscal year 2021[98] - Total hazardous waste decreased from 0.08 tons in 2021 to 0.05 tons in 2022, showing effective waste management practices[98] - The company has implemented a comprehensive environmental management plan to enhance operational efficiency while minimizing environmental impact[93] - The company actively promotes energy-saving measures and has encouraged the use of energy-efficient lighting and natural light sources[96] - The company aims to reduce energy consumption density by 10% by the fiscal year 2025, using the fiscal year 2021 as the baseline[103] - In fiscal year 2022, total energy consumption was 793.85 MWh, down from 1,220.67 MWh in fiscal year 2021, representing a reduction of approximately 35%[103] - Total water consumption in fiscal year 2022 was 582 tons, a decrease from 776.3 tons in fiscal year 2021, indicating a reduction of about 25%[105] - The company has set a goal to reduce water consumption density by 10% by the fiscal year 2025, using the fiscal year 2021 as the baseline[105] Human Resources and Employee Welfare - The company has a commitment to equal opportunity employment, with no discrimination based on race, nationality, gender, or other factors[128] - The company has implemented a performance evaluation system to guide annual employee assessments and improve organizational performance[122] - The company provides various employee benefits, including health insurance, annual health checks, and holiday bonuses, to enhance employee welfare[127] - The average training hours for all employees in the fiscal year 2022 was approximately 42.92 hours, a decrease from 44.95 hours in 2021[137] - The company has a structured approach to employee relations management, facilitating effective communication between management and staff[128] - The company has implemented strict measures during the COVID-19 pandemic, including daily office disinfection and temperature checks for employees entering the workplace[132] - The company has a policy to prevent child labor and forced labor, ensuring fair and transparent recruitment processes[139] - The company has developed an online learning system through WeChat to provide employees with access to training resources and information on business development and management innovation[137] Corporate Governance - The board consists of nine members, including four executive directors, two non-executive directors, and three independent non-executive directors, ensuring a diverse range of skills and experience[178] - The company has adhered to the corporate governance code, maintaining a balance of power and authority within the board, with decisions made by majority vote[172] - Independent non-executive directors have confirmed their independence and lack of significant relationships that could interfere with their judgment[181] - The company has established a standard code for directors' securities trading, ensuring compliance during the reporting period[174] - The board is responsible for overseeing the company's operations, internal controls, risk management policies, and major investments[182] - The company has a commitment to good corporate governance practices, providing transparency and accountability to shareholders[172] - The board will regularly review its composition to ensure it meets the business needs of the group[178] - The company has established a diversity policy for the board, focusing on various criteria including gender, age, cultural background, and professional experience[196] - The company encourages continuous professional development for all directors to enhance their knowledge and skills[191] - The remuneration committee, consisting of three members, evaluates directors' performance and provides recommendations on their compensation based on skills, experience, and group performance[198]

| 目錄 | | | --- | --- | | 釋義 | 2 | | 公司資料 | 4 | | 簡明綜合損益及其他全面收益表 | 5 | | 簡明綜合財務狀況表 | 7 | | 簡明綜合權益變動表 | 9 | | 簡明綜合現金流量表 | 11 | | 簡明綜合財務報表附註 | 13 | | 管理層討論及分析 | 31 | | 權益披露 | 37 | | 企業管治 | 39 | | 其他資料 | 40 | 1 沿海綠色家園有限公司 二零二一年中期報告 釋義 於本中期報告內，除文義另有所指外，下列詞彙具有以下涵義： Clarendon House 2 Church Street Hamilton HM11 Bermuda 本中期報告之中文版本為英文版本之譯本及只供參考，倘若英文版本與中文版本 有任何歧義或不一致，皆以英文版本為準。 * 僅供識別 3 沿海綠色家園有限公司 二零二一年中期報告 公司資料 註冊辦事處 | 「董事會」 | 指 | 董事會 | | --- | --- | --- | | 「公司細則」 | 指 | 本公司細則 | | 「企業管治守則」 | 指 | 上市規則附錄十四所載企業管治守則 | | ...

Financial Performance - The company reported a revenue of HKD 129.588 million for the fiscal year ending March 31, 2021, compared to HKD 30.964 million in the previous year, representing an increase of 318%[15]. - The pre-tax loss for the fiscal year was HKD 286.497 million, an improvement from a loss of HKD 436.317 million in the prior year[21]. - The loss attributable to shareholders for the year was HKD 281.028 million, compared to a loss of HKD 336.784 million in the previous year[15]. - Total assets as of March 31, 2021, were HKD 9.969 billion, an increase from HKD 9.226 billion in the previous year[16]. - Total liabilities increased to HKD 5.533 billion from HKD 4.797 billion year-over-year[16]. - The company's equity attributable to shareholders was HKD 4.363 billion, slightly down from HKD 4.363 billion in the previous year[16]. - The group recorded revenue of HKD 129.6 million, an increase of approximately 319% compared to last year's HKD 31 million[23]. - The group reported a pre-tax loss of HKD 286.5 million for the fiscal year, improved from a loss of HKD 436.3 million the previous year[23]. - The attributable loss to shareholders for the year was HKD 281 million, compared to a loss of HKD 336.8 million last year[23]. Property Sales and Rental Income - Property sales contributed HKD 124.669 million to revenue, significantly up from HKD 29.601 million in the previous year[18]. - Rental income increased to HKD 4.919 million from HKD 0.910 million year-over-year[18]. - Property sales contributed HKD 1.247 billion to revenue, a 321% increase from last year's HKD 296 million, with total delivered area of 14,750 square meters, up 361% from 3,200 square meters last year[50]. Debt and Liabilities - The company's net debt increased to HKD 2.4574 billion, up from HKD 1.1489 billion last year, with the net debt to total equity ratio rising from 26% to approximately 55%[62]. - Total bank and other borrowings reached HKD 2.8957 billion, compared to HKD 1.9879 billion last year, with short-term borrowings now accounting for 68% of total borrowings[63]. Employee and Management - As of March 31, 2021, the group employed approximately 85 staff members, down from 100 in 2020, with employee costs around HKD 58 million, slightly decreased from HKD 59 million in 2020[69]. - The overall employee turnover rate for the fiscal year 2021 was approximately 19.46%, with 18 employees leaving the company[115]. - The company employed 10 senior management personnel, 47 middle management personnel, and 28 general staff as of 2021[113]. - The average training hours per employee in the fiscal year 2021 was approximately 44.95 hours, with male employees averaging 43.13 hours and female employees averaging 47.32 hours[129]. - 100% of employees across all categories, including senior management, middle management, and ordinary employees, participated in training programs[129]. Environmental, Social, and Governance (ESG) - The board is responsible for overseeing the group's environmental, social, and governance (ESG) policies, while senior management executes related policies and measures[77]. - The group has established a framework for assessing and managing significant ESG-related risks and opportunities[76]. - The total greenhouse gas emissions for the year 2021 were 51.93 tCO2 equivalent, a decrease of 32.1% from 76.45 tCO2 equivalent in 2020[91]. - The total water consumption in 2021 was 776.3 tons, down 33.9% from 1,176.3 tons in 2020[99]. - The company aims to achieve carbon neutrality by 2060, aligning with China's national goals for climate management[108]. Corporate Governance - The board consists of nine members, including four executive directors, two non-executive directors, and three independent non-executive directors[173]. - The board held a total of seven meetings during the reporting period to review and approve annual and interim results, as well as significant investments and corporate transactions[182]. - The company regularly reviews its corporate governance policies and practices to ensure compliance with legal and regulatory requirements[184]. - The board is committed to maintaining a diverse composition and regularly assesses the skills and experience required to meet the group's business needs[173]. Compliance and Ethics - The company has not encountered any incidents of child labor or forced labor within its workforce during the fiscal year[132]. - The company has maintained a strong internal control system and is committed to transparency and accountability for all shareholders[169]. - A total of 41 employees participated in anti-corruption and anti-money laundering training, highlighting the company's commitment to compliance and ethical standards[148].

Financial Performance - Revenue for the six months ended September 30, 2020, was HKD 34,787,000, an increase of 59.8% compared to HKD 21,783,000 in the same period of 2019[8] - Gross profit for the same period was HKD 27,581,000, significantly up from HKD 2,236,000, reflecting a gross margin improvement[8] - The company reported a loss before tax of HKD 66,024,000, a reduction in loss compared to HKD 206,190,000 in the previous year[8] - Total comprehensive income for the period was HKD 75,960,000, compared to a loss of HKD 429,504,000 in the same period last year[9] - The basic and diluted loss per share for the period was HKD 1.57, an improvement from HKD 3.22 in the previous year[9] - The company reported a pre-tax loss of HKD 66,024,000 for the six months, an improvement from a loss of HKD 206,190,000 in the same period last year[27] - The company reported a loss attributable to owners of HKD 65,056,000 for the six months ended September 30, 2020, compared to a loss of HKD 133,566,000 for the same period in 2019, reflecting a 51.2% improvement[38] Assets and Liabilities - Non-current assets totaled HKD 739,416,000 as of September 30, 2020, an increase from HKD 707,783,000 as of March 31, 2020[11] - Current assets amounted to HKD 8,257,754,000, a decrease from HKD 8,518,275,000 as of March 31, 2020[11] - The company’s development properties increased to HKD 1,602,341,000 from HKD 1,523,550,000[11] - As of September 30, 2020, total current liabilities decreased to HKD 2,865,188 thousand from HKD 3,090,855 thousand as of March 31, 2020, representing a reduction of approximately 7.3%[12] - Non-current liabilities decreased to HKD 1,626,908 thousand from HKD 1,706,089 thousand, reflecting a decline of about 4.7%[14] - Net assets increased to HKD 4,505,074 thousand from HKD 4,429,114 thousand, showing a growth of approximately 1.7%[14] - The company recorded a decrease in accounts payable by HKD 17,135 thousand during the period, compared to an increase of HKD 4,372 thousand in the previous year[21] - Other payables and accrued liabilities amount to HKD 1,689,313,000 as of September 30, 2020, compared to HKD 2,139,705,000 as of March 31, 2020, indicating a decrease of approximately 21%[57] Cash Flow - The net cash used in operating activities for the six months ended September 30, 2020, was HKD 590,854 thousand, compared to a net cash inflow of HKD 570,539 thousand for the same period in 2019[21] - Cash flow from investment activities showed a net cash inflow of HKD 461,648 thousand, contrasting with a net cash outflow of HKD 560,387 thousand in the previous year[21] - The net cash used in financing activities was HKD 14,335,000, compared to a net cash inflow of HKD 35,752,000 in the previous year[22] - The total cash and cash equivalents at the end of the period were HKD 74,608,000, slightly down from HKD 75,062,000 at the beginning of the period[22] - The company recorded a foreign exchange gain of HKD 139,137,000, compared to a loss of HKD 2,611,000 in the previous year[22] Income and Expenses - Property sales accounted for HKD 32,529,000, up from HKD 21,250,000, indicating a growth of 53.1% year-over-year[29] - Rental income increased significantly to HKD 2,258,000 from HKD 156,000, marking a growth of 1,350%[29] - The company’s administrative expenses decreased by approximately 15% to HKD 74.5 million from HKD 88 million in the previous year[84] - The company incurred a pre-tax loss of HKD 66 million, compared to a loss of HKD 206.2 million in the same period last year[77] - Other income and gains for the period were HKD 69.6 million, compared to HKD 2.3 million in the previous year, mainly driven by recovered interest expenses of HKD 57 million[83] Borrowings and Financing - The company’s bank and other borrowings amounted to HKD 2,008,221,000, an increase from HKD 1,987,948,000 as of March 31, 2020[59] - Current bank borrowings due within one year increased to HKD 436,617,000 from HKD 340,799,000[59] - Non-current bank borrowings decreased to HKD 1,571,604,000 from HKD 1,647,149,000[59] - The company's fixed-rate bank borrowings stood at HKD 91,041,000 with an interest rate of 10.80%[62] - Floating-rate borrowings amounted to HKD 436,617,000 with rates ranging from 2.2% to 6%[62] Shareholder Information - Major shareholder Ms. Yang Xunxin owns 1,531,261,978 shares, which is 36.93% of the issued share capital, while Shenzhen Holdings Limited holds 631,092,857 shares, representing 15.22%[103] - The total issued and paid-up ordinary shares remained at 4,146,020,285 as of September 30, 2020[64] - The company did not recommend the distribution of an interim dividend for the six months ended September 30, 2020, compared to no dividend in the previous year[109] Market Outlook and Strategy - The group maintains a cautious optimism regarding the real estate market outlook, despite potential short-term fluctuations due to the COVID-19 pandemic[98] - The group will continue to seek opportunities for urban redevelopment projects to supplement its property portfolio[98] - The company plans to continue seeking investment and sale opportunities in property development and land development projects in China[75]

股份代號: 01124 發掘 珍貴未來 二零一九 ／二零年報 目錄 | 釋義 | 2 | | --- | --- | | 公司資料 | 4 | | 股權結構及主要業務 | 5 | | 財務摘要 | 6 | | 主席報告 | 8 | | 管理層討論及分析 | 10 | | 環境、社會及管治報告 | 16 | | 董事簡歷 | 28 | | 企業管治報告 | 31 | | 董事會報告 | 45 | | 獨立核數師報告 | 52 | | 綜合損益及其他全面收益表 | 59 | | 綜合財務狀況表 | 61 | | 綜合權益變動表 | 63 | | 綜合現金流量表 | 65 | | 綜合財務報表附註 | 67 | | 主要物業一覽表 | 162 | 目錄 釋義 於本年報內，除文義另有所指外，下列詞彙具有以下涵義： | 「股東週年大會」 | 指 | 本公司股東週年大會 | | --- | --- | --- | | 「董事會」 | 指 | 本公司董事會 | | 「公司細則」 | 指 | 本公司細則 | | 「企業管治守則」 | 指 | 上市規則附錄十四所載企業管治守則 | | 「CIH」 | 指 | Coastal I ...

Financial Performance - Revenue for the six months ended September 30, 2019, was HKD 21,783,000, a decrease of 86.5% compared to HKD 161,841,000 in the same period of 2018[12] - Gross profit for the same period was HKD 2,236,000, down 81.0% from HKD 11,799,000 year-on-year[12] - The company reported a loss attributable to owners of the company of HKD 133,566,000, compared to a profit of HKD 331,213,000 in the previous year[13] - Total comprehensive income for the period was a loss of HKD 429,504,000, compared to a loss of HKD 801,444,000 in the same period last year[13] - The basic and diluted loss per share for the period was HKD 3.22, compared to earnings per share of HKD 7.91 in the previous year[13] - The company reported a pre-tax loss of HKD 206,190,000, compared to a profit of HKD 303,707,000 in the same period last year[58] - The company reported a total comprehensive income loss of HKD 801,444 thousand for the period, compared to a profit in the previous period[21] Assets and Liabilities - Non-current assets as of September 30, 2019, totaled HKD 684,588,000, a slight increase from HKD 679,150,000 as of March 31, 2019[15] - Current assets increased to HKD 8,700,783,000 from HKD 8,024,757,000, reflecting a growth of 8.4%[15] - As of September 30, 2019, total current liabilities increased to HKD 4,559,423 thousand from HKD 3,437,621 thousand as of March 31, 2019, representing a 32.7% increase[16] - Non-current liabilities rose to HKD 155,897 thousand from HKD 166,717 thousand, indicating a decrease of 6.5%[18] - Net assets decreased to HKD 4,670,051 thousand from HKD 5,099,569 thousand, reflecting a decline of 8.4%[18] - The company's equity attributable to owners decreased to HKD 4,577,905 thousand from HKD 4,991,844 thousand, a drop of 8.3%[18] - The total assets less current liabilities stood at HKD 4,825,948 thousand, down from HKD 5,266,286 thousand, a decrease of 8.4%[16] Cash Flow and Liquidity - The company incurred financial costs of HKD 20,508,000, down 30.9% from HKD 29,731,000 in the previous year[12] - The company’s cash and bank balances increased to HKD 80,881,000 from HKD 35,273,000, indicating improved liquidity[15] - For the six months ended September 30, 2019, net cash generated from operating activities was HKD 570,539,000, a significant improvement compared to a net cash used of HKD 2,696,648,000 in the same period of 2018[25] - The company reported a decrease in cash and cash equivalents of HKD 45,904,000, contrasting with a decrease of HKD 879,603,000 in the previous year[26] - The total cash and cash equivalents at the end of the period were HKD 75,062,000, down from HKD 606,525,000 at the end of the previous year[26] Operational Efficiency and Future Outlook - The company is focusing on enhancing its operational efficiency and exploring new market opportunities to drive future growth[19] - The company plans to invest in new product development and technology to improve its competitive position in the market[19] - Future guidance indicates a cautious outlook due to market conditions, with a focus on cost control and strategic investments[19] Accounting Standards and Changes - The company has adopted the new Hong Kong Financial Reporting Standard 16 on leases, which significantly changes the accounting treatment for lessees[31] - The impact of adopting HKFRS 16 resulted in adjustments to the retained earnings at the initial application date, although prior period comparative information was not restated[32] - The adoption of HKFRS 16 has no significant impact on the financial statements for the company[46] Employee and Management Costs - Employee costs for the six months ended September 30, 2019, were approximately HKD 19.9 million, a significant decrease from HKD 50.4 million in the same period of 2018[119] - The group has approximately 153 employees as of September 30, 2019, down from about 178 employees in 2018[119] - Total remuneration for key management personnel was HKD 3,425,000 for the six months ended September 30, 2019, down from HKD 7,206,000 in the same period of 2018, representing a decline of 52.5%[90] Shareholder Information - Major shareholders include Yang Xunxin with a 36.93% stake and Shenzhen Holdings Limited with a 15.22% stake in the company[127] - The company did not recommend the payment of an interim dividend for the six months ended September 30, 2019, compared to no dividend in 2018[133]

Financial Performance - For the fiscal year ending March 31, 2019, the company reported total revenue of HKD 200,508,000, a significant decrease of 88.8% compared to HKD 1,791,404,000 in the previous year[18] - The company recorded a profit attributable to owners of the company of HKD 132,475,000 for the fiscal year 2019, down from HKD 231,077,000 in 2018, representing a decline of 42.7%[18] - Total assets decreased to HKD 8,703,907,000 in 2019 from HKD 15,802,415,000 in 2018, reflecting a reduction of 44.0%[19] - Total liabilities also decreased to HKD 3,604,338,000 in 2019 from HKD 10,194,135,000 in 2018, a decline of 64.7%[19] - The company reported a loss in property development segment of HKD 762,032,000 for 2019, compared to a loss of HKD 97,745,000 in 2018[21] - Rental income increased to HKD 1,904,000 in 2019 from HKD 914,000 in 2018, marking a growth of 108.5%[21] - The company’s financial costs decreased significantly to HKD 48,950,000 in 2019 from HKD 179,653,000 in 2018, a reduction of 72.8%[21] - The company’s interest income decreased to HKD 15,875,000 in 2019 from HKD 73,779,000 in 2018, a decline of 78.5%[21] - The company’s equity attributable to owners decreased to HKD 4,991,844,000 in 2019 from HKD 5,474,403,000 in 2018, a decrease of 8.8%[19] - The company did not declare any dividends for the fiscal year 2019, consistent with the previous years[18] Sales and Contract Performance - Contract sales amounted to HKD 116 million in fiscal year 2019, significantly lower than HKD 4.334 billion in fiscal year 2018[28] - The total construction area for contract sales was approximately 18,000 square meters in fiscal year 2019, compared to 319,000 square meters in fiscal year 2018[28] - The confirmed sales revenue from property sales was HKD 187.7 million, down about 89% from HKD 1.7487 billion, with a total delivered building area of 21,000 square meters, also a decrease of 89%[58] Environmental Impact - The total greenhouse gas emissions decreased from 5,025.29 tCO2 equivalent in 2018 to 115.88 tCO2 equivalent in 2019, representing a reduction of approximately 97.7%[89] - Direct greenhouse gas emissions (Scope 1) dropped from 252.14 tCO2 equivalent in 2018 to 15.36 tCO2 equivalent in 2019, a decrease of about 93.9%[89] - Indirect greenhouse gas emissions (Scope 2) fell from 4,773.15 tCO2 equivalent in 2018 to 100.52 tCO2 equivalent in 2019, a reduction of approximately 97.9%[89] - The total water consumption decreased significantly from 53,681.27 tons in 2018 to 1,253.29 tons in 2019, a reduction of about 97.7%[98] - The company promoted recycling, with paper recycling amounting to 20.42 kg in 2019 compared to 38.03 kg in 2018, indicating a decrease of approximately 46.8%[92] - The company reported a significant reduction in hazardous waste, with fluorescent tube disposal decreasing from 2,795 units in 2018 to 273 units in 2019, a reduction of about 90.2%[92] - The company implemented energy-saving measures, with electricity consumption reported at 15.73 MWh in 2019, down from 11,591.17 MWh in 2018, indicating a substantial decrease[96] Corporate Governance - The board consists of nine members, including four executive directors, two non-executive directors, and three independent non-executive directors[154] - The company emphasizes the importance of good corporate governance practices and has adopted the corporate governance code[150] - The chairman and CEO roles are held by the same individual, Jiang Ming, which deviates from the corporate governance code but is deemed not to harm the balance of power[150] - The company has confirmed that all directors complied with the standard code of conduct for securities trading during the reporting period[152] - The board will regularly review its composition to ensure it possesses the necessary expertise and experience to meet the group's business needs[154] Employee Management - Employee costs for the fiscal year were approximately HKD 99 million, an increase from HKD 86 million in 2018, with a significant reduction in employee count from 250 to 152[80] - The company has established a comprehensive performance evaluation system to guide work details and identify both underperforming and high-performing organizations and employees[112] - The company provides various employee benefits, including major accident insurance, annual health check-ups, and holiday benefits, and was recognized as one of the "Best Employers in China" for 2007-2008[115] - The company emphasizes employee health and safety, providing free annual health check-ups and accident insurance[119] - The company implements a comprehensive training management system to enhance employee development and skills[120] Risk Management - The company faces significant operational and financial risks due to its concentration in the Chinese property market, which is influenced by political, social, economic, and legal factors[197] - Financial risks related to currency, interest rates, credit, and liquidity are present in the company's daily operations, with detailed management policies outlined in the financial statements[198] - The company emphasizes the importance of feasibility studies and risk appetite assessments before land or project acquisitions to minimize investment risks[197] - The company regularly reviews its internal control systems and has not identified any significant issues that would adversely affect its risk management effectiveness[196] Social Responsibility - The company actively contributes to the construction of local housing security systems in cities like Beijing and Anshan, addressing urgent housing needs for low-income groups[133] - The company has donated several million RMB to various social welfare programs over the past 28 years, including significant contributions to the China Youth Development Foundation and the Tsinghua University Scholarship Program[136] - The company has committed to building harmonious and sustainable communities, focusing on understanding residents' needs through effective communication mechanisms[133] - The company has a core value of social responsibility, integrating it into its operations since its establishment[136]