Group 1: Important News - Trump announced that drug tariffs are imminent [1] Group 2: Individual Stock News - JD.com (09618.HK) subsidiary Dada has completed privatization and will voluntarily delist [2] - Haitian Flavor Industry (03288.HK) set the offering price at HKD 36.30 per H-share [2] - Liu Qiangdong stated that JD.com (09618.HK) will apply for stablecoin licenses in major currency countries [2] - Yadea Holdings (01585.HK) issued a profit warning, expecting net profit for the first half to increase to no less than HKD 1.6 billion [2] - Youjia Innovation (02431.HK) announced it has secured exclusive designation for the SAIC Maxus intelligent cockpit DMS project [2] - Hopson Development Holdings (00754.HK) reported total contract sales of approximately HKD 6.033 billion in the first five months, a year-on-year decrease of 14.66% [2] - Yongyi International (01218.HK) issued a profit warning, expecting annual comprehensive loss to expand to no less than HKD 700 million year-on-year [2] - Wang Xing cashed out over HKD 600 million in four days, with Li Auto (02015.HK) responding that it is a personal action and does not involve Meituan's shareholding [2] - Rongchang Biopharma (09995.HK) announced that Taitasip has received orphan drug designation from the EU [2] - Chow Tai Fook (01929.HK) repurchased 122 million shares at a cost of HKD 1.57 billion through a private arrangement on June 17 [2]

Shareholding Structure - Magical Profits Limited holds 29,179,480 shares, representing 39.43% of the total issued share capital of 73,988,403 shares as of September 30, 2024[5]. - Sea Rejoice Limited owns 9,929,664 shares, accounting for 13.42% of the total issued share capital[4]. - Koon Wing Yee has an interest in 10,002,664 shares, which is 13.51% of the total issued share capital[4]. - The Winterbotham Trust Company Limited, as trustee, holds 29,179,480 shares through a series of controlled entities[3]. - Christopher Geoffrey Douglas Hooper and Ivan Geoffrey Douglas Hooper own approximately 99.99% of Winterbotham Holdings Limited and Markson International Holding Limited, respectively[3]. - No other persons, apart from directors or chief executives, have been reported with interests in the shares as of September 30, 2024[6]. Share Option Scheme - The 2012 Share Option Scheme allowed for the issuance of options up to 10% of the shares in issue as of August 8, 2019, totaling 91,320,403 shares[11]. - The 2012 Share Option Scheme expired on July 4, 2022, and no further options will be granted[11]. - As of September 30, 2024, a total of 365,000 share options were granted, with 292,000 options outstanding[13]. - Ms. Lui, an executive director, was granted 73,000 share options under the 2012 Share Option Scheme[4]. - No share options were granted, exercised, lapsed, or cancelled under the 2012 Share Option Scheme during the reporting period[42]. - The company has no performance targets attached to the 2012 Share Option Scheme[21]. - As of September 30, 2024, the company has no other share option schemes following the expiry of the 2012 Share Option Scheme[43]. Financial Performance - Revenue for the six months ended 30 September 2024 was HK$219,199,000, a significant increase from HK$101,460,000 in the same period of 2023, representing a growth of approximately 116.5%[66]. - Gross profit for the period was HK$5,888,000, down from HK$34,065,000 in the previous year, indicating a decline of approximately 82.7%[66]. - Loss for the period attributable to owners of the Company was HK$709,482,000, compared to a loss of HK$70,544,000 in the same period last year, reflecting a substantial increase in losses[67]. - The Company does not recommend the payment of an interim dividend for the period, consistent with the previous year where no dividend was paid[66]. - The Group reported a loss before tax of HK$22,787,000, a recovery from a loss of HK$37,929,000 in the prior year[66]. - Other comprehensive income for the period amounted to HK$38,527,000, compared to an expense of HK$17,642,000 in the previous year, indicating a positive shift[67]. - The Company recorded a write-down on properties held for sale of HK$79,511,000, compared to HK$39,471,000 in the previous year, highlighting increased impairment[66]. - The Company experienced a loss from discontinued operations of HK$733,816,000, compared to a loss of HK$147,703,000 in the same period last year, indicating a significant increase in losses from discontinued operations[67]. - The total comprehensive expense for the period was HK$670,968,000, compared to HK$203,202,000 in the previous year, reflecting a worsening financial position[67]. - The loss for the period attributable to owners of the Company was HK$709,495,000, compared to a loss of HK$185,560,000 in the same period last year, representing an increase of 282%[68]. - Total comprehensive income attributable to owners from continuing operations was HK$62,861,000, a significant recovery from a loss of HK$37,784,000 in the previous year[68]. Assets and Liabilities - Non-current assets decreased from HK$2,404,846,000 as of March 31, 2024, to HK$1,503,984,000 as of September 30, 2024, reflecting a decline of 37.4%[70]. - Current liabilities increased to HK$1,454,170,000 from HK$2,788,134,000, indicating a reduction of 47.8%[71]. - The net current assets were HK$647,209,000, down from HK$3,546,059,000, a decrease of 81.8%[71]. - The company reported a basic and diluted loss per share of HK$9.59, compared to a loss of HK$0.95 in the previous year[68]. - Total assets less current liabilities were HK$2,151,193,000, down from HK$5,950,905,000, a decrease of 63.9%[71]. - The secured bank borrowings decreased significantly from HK$2,323,047,000 to HK$1,100,923,000, a reduction of 52.5%[71]. - The company’s equity attributable to owners decreased from HK$2,407,053,000 to HK$1,736,098,000, a decline of 27.9%[71]. Strategic Focus - The company is focusing on restructuring and optimizing its asset portfolio to improve financial stability and operational efficiency moving forward[72]. - The company is focusing on market expansion and new product development as part of its strategic initiatives for future growth[79]. - The interim report indicates that the company is actively pursuing new technologies to enhance its product offerings and improve operational efficiency[79]. - The company plans to continue its efforts in mergers and acquisitions to strengthen its market position and expand its portfolio[79]. - The management has provided guidance for the upcoming quarter, anticipating a gradual recovery in revenue as market conditions improve[79]. Property Development and Sales - The company held 27,428,937 shares of Gao Shan, representing approximately 8.11% of the total issued share capital after a placement of up to 235,000,000 new shares at a price of HK$0.18 per share[22]. - The property development segment includes ongoing projects such as the redevelopment of Chatham Road North, expected to be completed by the end of 2024[150]. - The Group recorded HK$84,828,000 in revenue from property sales during the Period, with 7 units sold, compared to no sales in the 2023 Period[143]. - Revenue from property development recognized during the period was approximately HK$219,199,000, compared to HK$101,460,000 in the 2023 period[166]. - The Group launched a new residential project "Garden Crescent" in November 2023, consisting of 56 luxury apartments ranging from 260 to 2,597 square feet[166]. - As of September 30, 2024, the occupancy rates for the Group's investment properties were 0.0% for residential units, 98.7% for commercial units, and 77.2% for industrial units[174]. - The Group recorded a loss on changes in fair value of investment properties of approximately HK$530,000 during the period, compared to approximately HK$6,000,000 in the 2023 period[174]. Loan Portfolio and Financing - The Group had a total of 8 borrowers under its loan portfolio as of September 30, 2024, primarily funded by the Group's internal resources[188]. - The Group recorded interest income from its loan financing business of approximately HK$1,956,000 for the current period, a decrease of about 65.9% compared to approximately HK$5,744,000 for the same period in 2023[190]. - As of 30 September 2024, the gross carrying amount of loans receivable was HK$114,863,000, down from HK$195,657,000 as of 31 March 2024, with 48% secured by marketable securities or properties[192]. - The net carrying amount of unsecured loan receivables was HK$28,774,000 as of 30 September 2024, a decrease from HK$56,009,000 as of 31 March 2024[193]. - The Group's largest borrower accounted for approximately 42% of the total loans receivable as of 30 September 2024, up from 21% as of 31 March 2024[192]. - The Group's total bank borrowings amounted to approximately HK$1,447,835,000 as of 30 September 2024, significantly reduced from approximately HK$3,671,861,000 as of 31 March 2024[197]. - The gearing ratio of the Group remained stable at approximately 0.8 for both the current period and as of 31 March 2024[197]. - 40% of new and renewed loans had a repayment period of less than one year, while 60% had a repayment period between one and three years[195]. - The Group conducts regular reviews of loan recoverability based on borrowers' financial conditions and repayment capabilities[195]. - The Group assesses expected credit losses based on changes in credit risk since initial recognition, reflecting market conditions and borrower performance[195]. - The Group is not permitted to sell or repledge collateral in the absence of borrower default, ensuring the security of its loan portfolio[192].

Revenue and Profitability - Revenue for the six months ended September 30, 2024, was HKD 229,885,000, representing a 100.1% increase compared to HKD 114,868,000 for the same period in 2023[3] - The profit attributable to the owners of the company from continuing operations was HKD 24,334,000, a significant recovery from a loss of HKD 37,784,000 in the previous year[3] - The group reported a total revenue of HKD 229,885,000 for the six months ended September 30, 2024, compared to HKD 200,677,000 in the previous period, representing an increase of approximately 14.5%[38] - The group’s property development segment reported a revenue of HKD 101,460,000, with a segment loss of HKD 3,870,000[43][44] - The property development segment reported revenue from continuing operations of approximately HKD 219,199,000, a significant increase from HKD 101,460,000 in the same period of 2023[93] Losses and Expenses - Gross profit decreased to HKD 5,888,000, down 82.7% from HKD 34,065,000, resulting in a gross margin of 2.6%, down from 29.7%[3] - Basic and diluted loss per share increased to HKD (9.59), compared to HKD (0.95) in the previous period, reflecting a 909.5% increase in losses[3] - The company reported a loss attributable to owners of the company of HKD 670,955,000 for the six months ended September 30, 2024, compared to a loss of HKD 74,959,000 for the same period in 2023, representing an increase in loss of approximately 794.5%[22] - The total comprehensive expense attributable to owners of the company was HKD 670,955,000, significantly higher than the HKD 74,959,000 reported in the previous year, indicating a substantial decline in financial performance[22] - The company incurred a pre-tax loss of HKD 733,816,000 for the six months ended September 30, 2024, compared to a pre-tax loss of HKD 149,170,000 for the same period in 2023[60] - The total administrative expenses for the six months ended September 30, 2024, were HKD 34,285,000, reflecting a significant cost burden on operations[60] Assets and Liabilities - Total assets as of September 30, 2024, were HKD 3,605,363,000, a decrease of 58.7% from HKD 8,739,039,000[3] - Total liabilities decreased by 54.8% to HKD 1,871,082,000 from HKD 4,136,948,000[3] - The net asset value dropped to HKD 1,734,281,000, down 62.3% from HKD 4,602,091,000[3] - The company’s total assets decreased from HKD 6,334,193,000 as of March 31, 2024, to HKD 2,101,379,000 as of September 30, 2024, representing a decline of about 66.8%[24] - The company’s equity attributable to owners decreased from HKD 2,407,053,000 as of March 31, 2024, to HKD 1,736,098,000 as of September 30, 2024, a decrease of approximately 27.9%[26] Cash Flow and Financing - The company reported a net cash outflow from operating activities of zero for the six months ended September 30, 2024, compared to approximately HKD 217,100,000 for the same period in 2023[62] - The company’s cash and cash equivalents dropped significantly from HKD 307,435,000 as of March 31, 2024, to HKD 25,132,000 as of September 30, 2024, a decline of approximately 91.8%[24] - The group’s cash and cash equivalents were approximately HKD 25,132,000 as of September 30, 2024, a decrease of about 91.8% from HKD 307,435,000 on March 31, 2024[111] - The group’s bank borrowings totaled approximately HKD 1,447,835,000 as of September 30, 2024, down from HKD 3,671,861,000 on March 31, 2024[111] Discontinued Operations - The company reported a loss from discontinued operations of HKD (733,816,000), compared to a loss of HKD (32,760,000) in the previous year, marking a 2,140.0% increase in losses[3] - The company recorded a loss from discontinued operations of HKD 733,816,000 for the current period, compared to a loss of HKD 37,175,000 in the prior period, reflecting a drastic increase in losses from discontinued operations[22] - The company reported zero revenue from discontinued operations for the period, compared to HKD 15,256,000 in the same period of 2023[88] - The company’s loss from discontinued operations was approximately HKD 733,816,000 for the period, compared to HKD 32,760,000 in the previous year[89] Investments and Acquisitions - The company recognized a bargain purchase gain of HKD 244,996,000 from the acquisition of an associate during the period[7] - The group recognized a gain of HKD 244,996,000 from acquisitions during the reporting period[38] - The group’s investment in joint ventures resulted in a loss of HKD 18,415,000 during the reporting period[38] Market and Future Outlook - The group anticipates a gradual recovery in confidence in the Hong Kong real estate market as interest rates begin to ease[127] - The group will continue to focus on developing its core business while exploring potential opportunities for shareholder value enhancement[127] Corporate Governance - The group has not established an internal audit function but believes its current risk management and internal control procedures are adequate[132] - The board of directors includes executive directors and independent non-executive directors[138]

Financial Performance - The Group's revenue from continuing operations for the year ended March 31, 2024, was approximately HK$227,114,000, representing a 161.8% increase from HK$86,762,000 in the previous year[6]. - The consolidated loss attributable to shareholders for the year was approximately HK$253,235,000, compared to a profit of HK$13,280,000 in the previous year[6]. - The gross profit margin decreased to 25.6% from 68.0% in the previous year, reflecting a significant decline in profitability[2]. - The consolidated loss from continuing operations for the year was approximately HK$414,214,000, compared to a profit of HK$25,341,000 in the previous year[6]. - The basic and diluted loss per share from continuing operations was HK$3.50 and HK$4.20 respectively, compared to earnings per share of HK$0.18 in the previous year[9]. - The Group's rental income from continuing operations for the year was approximately HK$43,101,000, a decrease of about 0.4% compared to HK$43,255,000 in the previous year[42]. - A loss on changes in fair value of investment properties was approximately HK$47,333,000, compared to a gain of approximately HK$191,361,000 in the previous year, resulting in a segment loss of approximately HK$60,725,000[42]. - The fair value loss from continuing operations was approximately HK$9,563,000, compared to a gain of approximately HK$78,967,000 in 2023[61]. - The loss from continuing operations for the year was HK$218,804,000, compared to a profit of HK$58,970,000 in the previous year[80]. Assets and Liabilities - The Group's total assets as of March 31, 2024, were approximately HK$8,739,039,000, a decrease of 4.9% from HK$9,188,964,000 in the previous year[2]. - As of March 31, 2024, the total bank borrowings amounted to approximately HK$3,671,861,000, up from approximately HK$3,529,177,000 in 2023, indicating a growth of 4.0%[61]. - The gearing ratio for the year was approximately 0.8, compared to 0.7 in 2023, reflecting an increase in leverage[61]. - The current ratio decreased to approximately 2.3 from 3.0 in 2023, indicating a decline in short-term liquidity[61]. - Cash and cash equivalents as of March 31, 2024, were approximately HK$307,435,000, a decrease of approximately 22.9% from HK$398,894,000 in 2023[61]. - The Group's secured bank borrowings included amounts repayable within one year of approximately HK$2,323,047,000, an increase from HK$1,615,464,000 in 2023[62]. - The annual interest rates for secured bank borrowings ranged from 4.375% to 6.785% as of March 31, 2024, compared to 4.21% to 5.86% in 2023[62]. - The net asset value of the Group was approximately HK$7,341,709,000 as of March 31, 2024, down from HK$7,851,249,000 in 2023[64]. Property and Development - The occupancy rates for the Group's investment properties remained high at 100% for residential, 99.2% for commercial, and 95.0% for industrial units as of March 31, 2024[15]. - The Group's prestigious residential project "Ayton" achieved contracted sales of approximately HK$862,981,000, with 49 units sold[12]. - Another residential project "Garden Crescent" launched in November 2023 has recorded contracted sales of approximately HK$208,303,000, with 17 units sold[13]. - The Group's attributable land bank in Hong Kong amounted to approximately 21,000 square feet, all under development for sales purposes[16]. - The Group anticipates that easing interest rates in Hong Kong will gradually restore market confidence in the property sector, supporting property sales and potentially stabilizing or slightly rebounding property prices[26][32]. - The Group will continue to focus on selling remaining units in "Ayton" and "Garden Crescent" and plans to launch Project Chatham Road North when available[26][32]. - The anticipated completion dates for new properties include May 2024 for industrial use and February 2024 for commercial use[59]. Market Conditions - The Hong Kong economy and property market faced challenges in 2023, including geopolitical tensions, high interest rates, and below-expectation GDP growth, prompting government measures to stimulate the property market in early 2024[22][23]. - The government measures included lifting property sale restrictions, suspending mortgage stress tests, and relaxing loan-to-value ratios, which led to satisfactory sales performance for new property developments[22][23]. - The local market in Hong Kong is showing signs of recovery due to the resurgence of tourism and government initiatives to boost consumer confidence[68]. - The Hong Kong retail market continued to recover, but changes in tourist spending patterns and competition pose challenges for the office and retail leasing business[124]. - The geopolitical tensions and high interest rates have pressured the Hong Kong property market, but recent government measures are expected to benefit local residents and encourage investment[122]. Corporate Governance - The Board consists of five Directors, including two executive Directors and three independent non-executive Directors[139]. - The Board meets at least four times a year and is responsible for corporate strategies, financial performance, and major operational decisions[141]. - The Company has a clear division of responsibilities, with the President and CEO roles held by the same individual, Ms. Koon Ho Yan Candy[141]. - The Audit Committee's principal functions include overseeing financial reporting and compliance[151]. - The Company has maintained a high standard of corporate governance practices, ensuring accountability, robust internal controls, and transparency for all stakeholders[156]. - The independent auditor, Deloitte Touche Tohmatsu, has been recommended for re-appointment for the upcoming fiscal year at the 2024 AGM[179]. - The Company has fully complied with the Corporate Governance Code throughout the year, with the exception of the separation of the roles of president and CEO[159]. - The Board comprises experienced individuals, with half being independent non-executive directors, ensuring a balance of power and authority[160]. Shareholding and Capital Structure - The Group held an aggregate of 1,097,157,506 shares of Eminence, representing approximately 51.60% of the total issued share capital of Eminence as of April 1, 2023[74]. - Eminence entered into a placing agreement on May 29, 2023, for a maximum of 50,000,000 new shares at a price of HK$0.50 per share, diluting the Group's shareholding from approximately 51.60% to 26.59%[76]. - The completion of the placing agreement occurred on August 3, 2023, following approval from shareholders[76]. - On January 23, 2024, Eminence entered into a second placing agreement for up to 235,000,000 new shares at HK$0.18 per share, constituting a very substantial disposal[77]. - The second placing agreement was completed on April 17, 2024, further diluting the Group's shareholding in Eminence from approximately 26.59% to 8.11%[77]. - Following the completion of the second placing, Eminence's financial results will no longer be consolidated in the Group's financial statements[77]. Employee and Operational Insights - As of March 31, 2024, the Group had 62 employees, with staff costs amounting to approximately HK$73,399,000[101]. - The Group continues to optimize its tenant portfolio to adapt to changing market trends and evolving business environments[100]. - The Company provides continuous professional development for all Directors to ensure their contributions remain informed and relevant[189].

Revenue and Profitability - Revenue from continuing operations increased by 161.8% to HKD 227,114,000 compared to HKD 86,762,000 in the previous year[10] - The total revenue for the year 2024 was HKD 86,762 thousand, with property investment contributing HKD 44,891 thousand and property development contributing HKD 28,647 thousand[54] - The company reported a loss for the year of HKD (408,559,000), compared to a profit of HKD 29,943,000 in the previous year[14] - The company reported a loss attributable to owners from continuing operations of HKD (254,739) thousand for the year 2024, compared to a profit of HKD 10,905 thousand in 2023[40] - Total comprehensive loss attributable to owners from continuing operations was HKD (255,125) thousand in 2024, compared to HKD (17,402) thousand in 2023[42] - The company’s basic loss per share was HKD (3.50), and diluted loss per share was HKD (4.20)[10] - The company’s basic and diluted loss per share from continuing operations was HKD (3.52) in 2024, compared to HKD 0.15 in 2023[42] - The company reported a basic loss per share of HKD 3.50 and a diluted loss per share of HKD 4.20 for the year ending March 31, 2024, compared to a profit of HKD 0.18 per share in the previous year[80] Assets and Liabilities - Total assets decreased by 4.9% to HKD 8,739,039,000 from HKD 9,188,964,000[10] - Total liabilities decreased by 1.4% to HKD 4,136,948,000, while net assets decreased by 7.8% to HKD 4,602,091,000[10] - The company’s total assets decreased from HKD 6,662,454 thousand in 2023 to HKD 6,334,193 thousand in 2024[43] - The company’s non-current assets decreased from HKD 2,526,510 thousand in 2023 to HKD 2,404,846 thousand in 2024[43] - The company’s current assets decreased from HKD 4,404,437 thousand in 2023 to HKD 3,546,059 thousand in 2024[45] - As of March 31, 2024, the group's net current assets were approximately HKD 3,546,059,000, a decrease of about 22.9% from HKD 4,404,437,000 in 2023[162] - The group's total bank loans amounted to approximately HKD 3,671,861,000 as of March 31, 2024, compared to HKD 3,529,177,000 in 2023[164] Cash Flow and Investments - The company’s cash and cash equivalents decreased to HKD 1,348,814,000 from HKD 1,913,713,000[9] - The company generated a net cash outflow from operating activities of approximately 43,100,000 HKD in 2024, up from 38,200,000 HKD in 2023[93] - The company’s investment properties decreased from HKD 2,194,541 thousand in 2023 to HKD 2,069,773 thousand in 2024[43] - The company invested approximately HKD 1,443,000 in the purchase of properties, plants, and equipment during the year, compared to HKD 578,000 in 2023[190] Operational Performance - The company incurred total employee costs of HKD 73,111 thousand in 2024, an increase from HKD 69,319 thousand in 2023[57] - Rental income from continuing operations was approximately 43,101,000 HKD, a slight decrease of about 0.4% from 43,255,000 HKD in 2023[109] - The company recorded a total of 2,518,000 HKD in other income for 2024, compared to 1,472,000 HKD in 2023, indicating a year-over-year increase of approximately 70.8%[91] - The company completed sales transactions for 5 units and 1 parking space, generating revenue of approximately 118,460,000 HKD in 2024, compared to 28,647,000 HKD in 2023[106] Discontinued Operations - The company has terminated its securities and other investments and loan financing business in China, classifying these as discontinued operations[61] - The total revenue from discontinued operations for the year was HKD 10,807,000, with employee costs amounting to HKD 288,000, down from HKD 1,942,000 in the previous year[63][64] - The company reported a net loss from discontinued operations of HKD 1,504,000 for the year, compared to a loss of HKD 2,375,000 in the previous year[68] Government Support and Subsidies - The company recognized government subsidies related to COVID-19 amounting to HKD 1,256,000 under the "Employment Support" scheme[60] Capital and Equity - The company did not recommend a final dividend for the year, consistent with the previous year[81] - The company has no proposed dividends for the reporting period, consistent with the previous year[94] - The group completed a capital reorganization on July 19, 2023, consolidating every 40 existing shares into 1 new share[175] - The group’s equity interest in Gao Shan was diluted from approximately 26.59% to about 8.11% after the completion of a significant sale on April 17, 2024[155] Financial Ratios and Performance Metrics - The asset-to-equity ratio was approximately 0.8 as of March 31, 2024, compared to 0.7 in 2023[186] - The group’s largest borrower accounted for approximately 21% of total receivables as of March 31, 2024, down from 26% in 2023[170]

Financial Performance - For the six months ended September 30, 2023, the Group's revenue from continuing operations was approximately HK$130,124,000, an increase of approximately HK$92,316,000 or approximately 3.4 times compared to HK$37,808,000 in the same period of 2022[11]. - The gross profit margin for the Period was approximately 36.7%, down from approximately 76.9% in the 2022 Period[11]. - The consolidated loss attributable to shareholders for the Period was approximately HK$70,544,000, compared to a loss of approximately HK$25,103,000 in the 2022 Period[16]. - Revenue from the property development segment during the Period amounted to approximately HK$101,460,000, significantly up from HK$8,390,000 in the 2022 Period[23]. - The basic and diluted loss per share from continuing and discontinued operations was HK$0.95 for the Period, compared to HK$0.34 for the 2022 Period[17]. - The consolidated loss from discontinued operations was approximately HK$2,092,000, compared to a profit of approximately HK$6,591,000 in the 2022 Period[16]. - The increase in net loss was primarily due to higher losses on changes in fair value of investment properties and increased finance costs[16]. - The Group reported revenue from continuing operations of approximately HK$101,460,000 for the period, a significant increase from HK$8,390,000 in the previous year, representing a growth of approximately 1,107%[30]. - The Group recognized a loss on changes in fair value of investment properties amounting to approximately HK$24,438,000, contrasting with a gain of approximately HK$80,392,000 in the previous year[36]. - The Group's rental and building management income from continuing operations decreased by approximately 5.4% to HK$21,713,000, down from HK$22,946,000 in the previous year[35]. - The Group's total financial assets at fair value through profit or loss increased to approximately HK$234,685,000 as of September 30, 2023, up from approximately HK$191,160,000 as of March 31, 2023[48]. - The Group's investment portfolio is diversified, with no single investment exceeding 5% of total assets[49]. - The Group's credit policies include due diligence and continuous monitoring to minimize credit risks associated with loans[59]. Property Development - The Group launched the "Garden Crescent" residential project in November 2023, offering a total of 56 units with saleable areas ranging from 260 square feet to 2,597 square feet[23]. - The Chatham Road project is expected to have a gross floor area of approximately 41,747 square feet upon completion, anticipated in late 2024[28]. - The Ayton project consists of 60 residential units and has achieved contracted sales of approximately HK$654,002,000, with 38 units sold as of the report date[30]. - The Group's property management companies have obtained the necessary licenses to comply with the property management licensing regime effective from August 1, 2023[40]. Financial Position - As of September 30, 2023, the Group's investment properties achieved an occupancy rate of 100.0% for residential units, 99.2% for commercial units, and 95.0% for industrial units, compared to 100.0%, 99.2%, and 90.7% respectively in the previous year[36]. - The Group's gearing ratio increased to approximately 0.76 as of September 30, 2023, compared to approximately 0.71 as of March 31, 2023[99]. - The net current assets of the Group were approximately HK$3,713,428,000 as of September 30, 2023, down from approximately HK$4,404,437,000 as of March 31, 2023[100]. - The total bank borrowings of the Group as of September 30, 2023, amounted to approximately HK$3,677,476,000, up from approximately HK$3,529,177,000 as of March 31, 2023[99]. - The total assets as of September 30, 2023, amounted to HK$6,790,493,000, an increase from HK$6,662,454,000 as of March 31, 2023, reflecting a growth of approximately 1.93%[180]. - Total equity attributable to owners of the Company decreased to HK$2,593,071,000 from HK$3,451,803,000, a drop of around 24.9%[182]. - Cash and cash equivalents increased to HK$436,413,000 from HK$398,894,000, showing a growth of about 9.4%[182]. - Properties held for sale increased significantly to HK$1,786,132,000 from HK$728,950,000, reflecting a growth of approximately 144.5%[182]. Operational Highlights - The Group had 62 employees as of September 30, 2023, with staff costs amounting to approximately HK$37,696,000 for the period, compared to approximately HK$31,592,000 in the same period of 2022[120]. - The Group will continue to focus on the development of its existing principal businesses while exercising prudent capital management in operations[123]. - The Group's strategy includes measures announced by the Hong Kong Government to stimulate economic activity, particularly in the real estate sector, which is a pillar of the economy[123]. Market Conditions - The high interest rate environment is negatively impacting investment sentiment, particularly in the property sector, contributing to the overall slow performance of the Hong Kong real estate market[123]. - The Group's prospects for global economic recovery remain slow and uncertain, with ongoing geopolitical tensions and high inflation expected to persist[123]. Shareholder Information - The total issued share capital of the Company as of September 30, 2023, was 73,988,403 shares[130]. - The Company does not recommend the payment of an interim dividend for the current period, consistent with the previous period[164]. - The Company has fully complied with the Corporate Governance Code during the reporting period, except for disclosed deviations[152]. - The roles of president and chief executive officer are held by the same individual, which the Board considers appropriate for consistent leadership[153].

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佈的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公佈全部或任何部份內容 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。 EASYKNIT INTERNATIONAL HOLDINGS LIMITED 永義國際集團有限公司 （於百慕達註冊成立之有限公司） （股份代號：1218） 截至2023年9月30日止六個月 之中期業績公佈 財務摘要 截至9月30日止六個月 2023年 2022年 變動 （未經審核 （未經審核） 及經重列） 持續經營業務 營業額（千港元） 130,124 37,808 244.2% 毛利（千港元） 47,791 29,074 64.4% 毛利率 36.7% 76.9% (40.2)% 本公司擁有人應佔虧損（千港元） (68,452) (31,694) 116.0% 已終止經營業務 營業額（千港元） — 13,063 (100.0)% ...

Financial Performance - For the year ended March 31, 2023, the Group's revenue from continuing operations was approximately HK$86,762,000, a decrease of 73.2% compared to HK$323,390,000 in the previous year[11]. - Gross profit for the year was HK$58,985,000, down 60.0% from HK$147,594,000, with a gross profit margin of 68.0%, an increase of 22.4% from 45.6%[11]. - The consolidated profit attributable to shareholders was approximately HK$29,943,000, a significant decrease of 98.9% from HK$1,009,500,000 in the previous year[19]. - Basic and diluted earnings per share were HK$0.18, down 98.6% from HK$12.46 in the previous year[11]. - Revenue from discontinued operations was approximately HK$15,912,000, a decrease of approximately 41.9% from HK$27,394,000 in the previous year[42]. - Rental income from continuing operations was approximately HK$43,255,000, representing a decrease of approximately 24.2% from HK$57,073,000 in the previous year[64]. - Revenue from property development recognized during the year was approximately HK$28,647,000, down from HK$248,576,000 in 2022[52]. - Interest income from the loan financing business from continuing operations decreased to approximately HK$13,224,000 (2022: HK$16,085,000), while a loss of approximately HK$12,302,000 was recorded for the year[88]. - Interest income from continuing operations in the loan financing business was approximately HK$13,224,000 for the year, down from HK$16,085,000 in 2022, primarily due to a decrease in outstanding loans[90]. - Interest income from loan financing decreased by 57.5% to HK$2,786,000 compared to HK$6,553,000 in 2022[137]. Assets and Liabilities - Total assets as of March 31, 2023, increased by 3.0% to HK$9,188,964,000 from HK$8,919,158,000 in the previous year[11]. - Total liabilities rose by 5.4% to HK$4,196,579,000 from HK$3,981,641,000[11]. - The net asset value per share increased to HK$67.5 from HK$66.7, reflecting a 1.2% growth[11]. - As of March 31, 2023, the Group's financial assets at fair value through profit or loss amounted to approximately HK$191,160,000, down from HK$405,674,000 in 2022[83]. - The total fair value of the Group's investments as of March 31, 2023, was approximately HK$191,160,000, representing about 2.1% of the Group's total assets[86]. - As of March 31, 2023, the gross carrying amount of loans receivable was HK$300,807,000, a decrease from HK$345,332,000 in 2022, with 39% secured by marketable securities or properties[89][91]. - The total amount of receivables after deducting cumulative impairment provisions was HK$83,854,000, compared to HK$86,702,000 in 2022, reflecting a decrease of approximately 3.9%[107]. - As of March 31, 2023, the Group's bank borrowings amounted to approximately HK$3,529,177,000, a slight decrease from HK$3,562,704,000 in 2022[145]. - The current ratio as of March 31, 2023, was approximately 3.0, down from 3.8 in the previous year[146]. - The net book value of the Group's secured assets was approximately HK$7,851,249,000 as of March 31, 2023, up from approximately HK$7,464,811,000 in 2022[154]. Property Development and Sales - The property sales for the prestigious residential project "Ayton" amounted to approximately HK$552,542,000, with 34 units and 2 car parks sold[21]. - The Group's attributable land bank in Hong Kong amounted to approximately 39,300 square feet, all under development, primarily for sale purposes[28]. - The Group plans to stimulate sales of its residential project at Waterloo Road in the second half of 2023, following the relaxation of stamp duty for first-time buyers[30]. - The overall occupancy rate of the Group's properties remained satisfactory despite the negative impact of the COVID-19 pandemic[27]. - The Group completed the disposal of a residential property in Singapore in December 2022, allowing for capital reallocation to other investment opportunities[27]. - The Chatham Road North Project is expected to be completed in late 2024, with an estimated gross floor area of approximately 41,747 square feet[55]. - A major transaction involving the disposal of a residential apartment in Singapore was approved, with a sale price of S$13,008,888 (approximately HK$76,752,400) expected to be completed on July 7, 2023[165][166]. - The Group anticipates recognizing a gain of approximately S$1,808,888 (approximately HK$10,672,400) from the aforementioned disposal[166]. Strategic Plans and Market Outlook - The Group aims to strategically invest in quality properties and pursue long-term growth opportunities to strengthen its income base[18]. - The property market in Hong Kong is expected to recover following the relaxation of epidemic prevention measures and the reopening of borders[20]. - The relaxation of anti-epidemic measures is expected to revive economic growth in Hong Kong, providing more opportunities for the Group's operations[30]. - The property market in Hong Kong is expected to be stimulated by new measures such as adjustments to the Ad Valorem Stamp Duty for first-home buyers[181]. - The reopening of borders is anticipated to support retail recovery and increase demand for commercial space in 2024[186]. - The group continues to focus on developing its existing principal businesses while exploring new opportunities for steady returns[187]. Corporate Governance and Management - The company has highlighted several risks, including the impact of Hong Kong's economic conditions on the property market and the continuous escalation of construction costs[179]. - The group has implemented a series of internal control and risk management systems to address potential risks affecting its operations[180]. - The company has no active share option schemes following the expiration of the 2012 Share Option Scheme on July 4, 2022[191]. - 雷玉珠女士为公司共同创办人，拥有超过30年的纺织行业经验[197]. - 公司董事会包括独立非执行董事，具备丰富的会计和商业经验[199][200]. - 雷女士于2006年被任命为公司副主席，参与执行委员会[197]. - 公司在上市公司准备方面有经验，涉及多个上市公司[199]. - 独立非执行董事在财务、工业和房地产领域拥有超过40年的管理经验[200]. Shareholding and Investments - Eminence completed a placing of 186,280,000 shares at HK$0.10 per share, reducing the Group's shareholding in Eminence from 74.76% to 62.30%[120][121]. - Following the completion of the Eminence Placing I, the conversion price of the 2019 convertible notes was adjusted from HK$0.25 to HK$0.24, increasing the total shares upon full conversion from 280,000,000 to 291,666,666[128]. - Eminence completed a second placing of 607,400,000 shares at HK$0.068 per share, further reducing the Group's shareholding in Eminence from 72.25% to 51.60%[130][131]. - The Group held an aggregate of 1,097,157,506 shares of Eminence after fully exercising the conversion rights under the convertible notes, representing approximately 72.25% of the total issued share capital[129]. - The company has agreed to issue up to 50,000,000 new shares at a price of HK$0.50 per share, which will dilute its stake in Gao Shan from approximately 51.60% to about 26.59%[175]. - The special general meeting for shareholders to approve the placement agreement is scheduled for July 17, 2023[176].

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佈的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示概不就因本公佈全部或任何部分內容而 產生或因倚賴該等內容而引致的任何損失承擔任何責任。 EASYKNIT INTERNATIONAL HOLDINGS LIMITED 永義國際集團有限公司 （於百慕達註冊成立之有限公司） （股份代號：1218） 截至2023年3月31日止年度 之全年業績公佈 財務摘要 截至3月31日止年度 2023年 2022年 變動 （經重列） 持續經營業務 營業額（千港元） 86,762 323,390 (73.2)% 毛利（千港元） 58,985 147,594 (60.0)% 毛利率 68.0% 45.6% 22.4% 本公司擁有人應佔本年度溢利（千港元） 10,905 957,066 (98.9)% 已終止經營業務 營業額（千港元） 15,912 27,394 (41.9)% 本公司擁有人應佔本年度溢利（千港元） 2,375 22,371 (89.4)% 持續及已終止經營業務 每股基本╱攤薄盈利（港元） 0.18 12.46 (98.6)% ...

Financial Performance - Revenue for the year ended March 31, 2022, was HK$350,784,000, an increase of 8.5% from HK$323,382,000 in 2021[10] - Gross profit rose to HK$174,988,000, representing a significant increase of 75.0% compared to HK$100,000,000 in the previous year[10] - Net profit surged to HK$1,009,500,000, a remarkable increase of 4,503.5% from HK$21,929,000 in 2021[10] - The profit attributable to the owners of the Company was approximately HK$979,437,000, a significant increase from approximately HK$22,308,000 in the previous year[24] - Profit for the year was approximately HK$1,009,500,000, a significant increase of 4,503.5% over the previous year[50] - Basic earnings per share reached HK$12.46, a substantial increase of 4,884.0% from HK$0.25 in the previous year[10] - Basic and diluted earnings per share amounted to HK$12.46, compared to HK$0.25 for the previous year[55] Assets and Liabilities - Total assets increased by 81.9% to HK$8,919,158,000 from HK$4,903,606,000 in 2021[10] - Total liabilities rose by 138.0% to HK$3,981,641,000 compared to HK$1,673,161,000 in the previous year[10] - Net asset value per share increased by 69.7% to HK$66.7 from HK$39.3 in 2021[10] - The gearing ratio increased to 0.72 from 0.46, indicating a higher level of financial leverage[10] - The current ratio remained stable at 3.80, reflecting the company's liquidity position[10] Property Development and Investment - The Group plans to continue expanding its market presence and investing in new product development to drive future growth[10] - The overall rental income of the Group increased by 98.9% compared to the last corresponding year, primarily due to the property investment business with a controlling stake[30] - The occupancy rate of the Group's investment properties was higher than 97% for residential, commercial, and industrial units as of March 31, 2022[30] - One residential development project, "Ayton," recognized revenue of approximately HK$248,576,000 during the year[28] - The Group completed the acquisition of properties at Chatham Road North, which will be redeveloped into a composite building with residential and commercial use[31] - The Group plans to continue replenishing its land bank when suitable opportunities arise[31] - The Group plans to launch several property development projects, including residential and commercial redevelopments in various locations[59] - The Waterloo Site is being redeveloped into a luxurious residential accommodation with an estimated gross floor area of approximately 48,965 square feet, expected to launch sales in late 2022[60] - The Chatham Road North Building, now 100% owned by the Group, will be redeveloped into a composite building with an estimated gross floor area of approximately 41,827 square feet, expected to be completed in 2025[68] Financial Assets and Loans - The Group's financial assets at fair value through profit or loss amounted to approximately HK$405,674,000, an increase from approximately HK$360,322,000 in the previous year[81] - The Group recorded interest income from loan financing business of approximately HK$17,262,000, representing an increase from HK$13,726,000 in 2021, accounting for about 4.9% of total revenue[90] - Profit from loan financing business was approximately HK$10,058,000 for the Year, a significant recovery from a loss of approximately HK$38,352,000 in 2021[90] - As of March 31, 2022, the gross carrying amount of loans receivable was HK$345,332,000, up from HK$223,793,000 in 2021, with 45% secured by marketable securities or properties[97] - The largest borrower and the other four largest borrowers accounted for approximately 20% and 56% of the Group's loans receivable, respectively[97] - The interest rate on fixed-rate loans receivable ranged from 2.3% to 16% per annum, consistent with the previous year[98] Market Outlook and Economic Conditions - The outlook for the property market in Hong Kong remains positive, with expected GDP growth of 5.1% between 2021 and 2025 due to infrastructure development[36] - The Group anticipates a quick recovery in business momentum and housing demand in Hong Kong once the pandemic is over[35] - The local economy is expected to show signs of recovery in the second half of 2022, driven by improved market sentiment and confidence, which may attract more foreign investments in the construction and property sector[178][180] - The Group anticipates that the domestic economic conditions will improve following the decline in daily coronavirus cases and the progressive relaxation of social distancing measures[178][180] Risk Management and Internal Controls - The Group has implemented a series of internal control and risk management systems to address potential risks, including economic conditions and construction costs[173] - The Group's risk management measures will be strengthened to maintain financial stability, closely monitor market changes, and focus on developing existing principal businesses while exploring new opportunities[179][181] - The Group's financial performance may be impacted by various risks, including labor shortages, rising construction costs, and credit risks associated with loan provisions[175] Management and Personnel - Mr. Tsui Chun Kong has over 40 years of experience in public accounting and the commercial sector, particularly in the travel industry[192] - Mr. Jong Koon Sang has been an independent non-executive Director since 2005 and has over 40 years of management experience in financial, industrial, and property businesses[197] - Mr. Lau Chak Hang Charles has over 7 years of extensive experience in the financial industry and is currently a consulting director at Frost & Sullivan Limited[198]