Financial Performance - Revenue for the six months ended September 30, 2022, was HKD 52,709 thousand, a decrease of 50.5% compared to HKD 106,523 thousand for the same period in 2021[3] - Gross profit for the same period was HKD 7,751 thousand, down 45.1% from HKD 14,120 thousand in 2021[3] - The net profit for the period was HKD 137 thousand, a significant decline of 98.1% compared to HKD 7,216 thousand in the previous year[3] - Total comprehensive income for the period amounted to HKD 137 thousand, compared to HKD 7,333 thousand in the prior year[7] - The basic earnings per share for the period was HKD 0.01, a decrease from HKD 0.37 in the previous year[7] - The company reported a pre-tax profit of HKD 137,000 for the six months ended September 30, 2022, a significant decrease from HKD 7,216,000 in the same period of 2021[59] - The company’s total comprehensive income for the period was HKD 166,000, compared to HKD 137,000 for the same period in 2021[59] - Basic earnings per share for the period was approximately HKD 166,000, compared to HKD 7,288,000 for the same period in 2021[77] - Total tax expenses for the period amounted to HKD 517,000, down from HKD 1,155,000 in the previous year, a decrease of 55.2%[74] Assets and Liabilities - Non-current assets as of September 30, 2022, totaled HKD 33,798 thousand, down 38.7% from HKD 55,254 thousand as of March 31, 2022[11] - Current assets increased to HKD 399,874 thousand from HKD 390,253 thousand, reflecting a growth of 2.1%[11] - Total liabilities decreased to HKD 135,762 thousand from HKD 140,514 thousand, a reduction of 3.4%[13] - The company's equity attributable to owners was HKD 308,820 thousand, slightly up from HKD 308,654 thousand[13] - Trade receivables as of September 30, 2022, were HKD 23,331,000, down from HKD 34,531,000, a decline of 32.5%[80] - The net value of loans receivable increased to HKD 69,573,000 from HKD 58,693,000, an increase of 18.8%[86] - Prepayments and other receivables totaled HKD 206,721,000, an increase from HKD 191,148,000, reflecting an increase of 8.2%[93] Cash Flow - The company recorded a net cash outflow from operating activities of HKD 10,581,000 for the six months ended September 30, 2022[27] - As of September 30, 2022, cash and cash equivalents totaled HKD 90,346,000, compared to HKD 62,418,000 at the beginning of the period[38] - The net cash used in financing activities was HKD 10,204,000 for the six months ended September 30, 2022[30] - Cash and bank balances as of September 30, 2022, were approximately HKD 47.6 million, down from HKD 62.4 million as of March 31, 2022[104] Business Segments - The aluminum trading segment reported a loss of HKD 127,000, while the construction projects segment generated a profit of HKD 2,216,000 for the same period[59] - Construction project revenue decreased to HKD 49,947,000 from HKD 102,996,000, representing a decline of 51.5% year-over-year[64] - Profit from the construction segment was approximately HKD 2.2 million, compared to HKD 6.9 million in the previous year, reflecting a decline[100] - The group's pre-tax profit for the six months ended September 30, 2022, was significantly impacted by construction costs of HKD 44,958,000, down from HKD 92,403,000, a decrease of 51.3%[69] Strategic Focus - The company plans to continue focusing on aluminum product trading and construction project supply as part of its core business strategy[51] - Management is actively seeking opportunities in the Hong Kong and Macau construction markets post-pandemic[103] - The company continues to submit tenders for construction projects in Macau despite delays caused by the pandemic[100] Dividends and Securities - The company did not recommend any dividend payment for the period, consistent with the previous year[78] - No purchases, sales, or redemptions of the company's listed securities occurred during this period[121] Leadership - The company is led by Chairman Dong Yicheng and a team of executive directors including Zhong Can, Kuang Jianhui, and Lin Junbin[122] - The independent non-executive directors include Huang Yongxiang, Li Jin Song, and Guo Lifeng[122] Additional Information - The mid-year report for 2022 is referenced, indicating ongoing financial assessments[123]

Financial Performance - Total revenue for the year ended March 31, 2022, was approximately HKD 177.7 million, an increase of 76.8% compared to HKD 100.5 million in the fiscal year 2021[7] - The construction business generated revenue of approximately HKD 173.9 million, up from HKD 94.3 million in the previous year, while the financing business recorded revenue of approximately HKD 3.8 million, down from HKD 6.2 million[7] - Gross profit for the year was approximately HKD 21.6 million, an increase of about 5.4% from HKD 20.5 million in the previous year, with a gross margin of 12.2% compared to 20.4% in the prior year[9] - The construction segment's gross margin decreased to approximately 10.3% from 15.1% due to higher material and logistics costs[9] - The group recorded a total contract revenue of HKD 173,865,000 for the year ended March 31, 2022[155] Cash and Assets - As of March 31, 2022, the group's cash and bank balances were approximately HKD 62.4 million, down from HKD 90.2 million in the previous year, with a net asset value of approximately HKD 297.8 million[11] - As of March 31, 2022, the total amount of assets pledged was HKD 11.6 million, with bank deposits of approximately HKD 28.4 million pledged for financing[15] - The company’s trade receivables and contract assets amounted to approximately HKD 14,413,000 and HKD 36,207,000, respectively, with impairment losses of about HKD 20,118,000 and HKD 4,827,000 deducted[181] Debt and Liabilities - The capital debt ratio as of March 31, 2022, was approximately 0.05, compared to 0.06 in the previous year, with total bank borrowings of approximately HKD 16 million[11] - As of March 31, 2022, there were no significant contingent liabilities or commitments[74] Dividends - The company does not recommend any dividends for the years ended March 31, 2022, and March 31, 2021[9] - The company confirmed that as of March 31, 2022, it had no distributable reserves available for distribution to equity holders, consistent with the previous year[45] Business Strategy and Development - The group is actively seeking investment and project opportunities to expand its business in Hong Kong and Macau, particularly in the context of the Greater Bay Area development[8] - The group is focused on investment holding and has plans for future business development, including addressing major risks and uncertainties[40] Employee and Governance - The group had 15 employees as of March 31, 2022, down from 18 in the previous year[16] - The group has established a mandatory provident fund scheme for all eligible employees in Hong Kong, with assets controlled by trustees[17] - The board consists of three executive directors and three independent non-executive directors, ensuring a balanced and independent governance structure[84] - The company has adhered to the corporate governance code and maintained transparency and risk management practices[82] Audit and Compliance - The independent auditor's report confirms that the consolidated financial statements fairly reflect the group's financial position as of March 31, 2022[143] - The audit process included evaluating key internal controls related to contract revenue recognition for construction and engineering services[150] - The company is committed to ensuring compliance with the Hong Kong Financial Reporting Standards[144] Shareholder Relations - The company aims to enhance transparency and promote investor relations, emphasizing the importance of shareholder feedback[139] - Shareholders can propose resolutions at general meetings with a minimum of 100 shareholders or 5% of total voting rights[133] Impairment and Credit Losses - During the year, the company recognized an impairment provision of approximately HKD 10,088,000 for trade receivables and HKD 2,113,000 for contract assets[181] - The company applied a simplified approach for assessing impairment, conducting individual assessments for customers with credit impairment and using a provision matrix for collective assessments[181] - The key assumptions for estimating expected credit losses included the probability of default and loss given default, which involved significant management judgment[191]

ZHIDAO INTERNATIONAL (HOLDINGS) LIMITED 志 道 國 際 ( 控 股 ) 有 限 公 司 * (於百慕總註母成立之有限公司) (股份代號 : 1220) 中期報告 2021 *懂供嚴別 中期財務報表 截至九月三十日止六個月 二零二一年 二零二零年 (未經審核) (未經審核) 附註 千港元 千港元 Zhidao International (Holdings) Limited志道國際(控股)有限公司(「本公司」)之董事會 (「董事會」)欣然公佈本公司及其附屬公司(統稱「本集團」)截至二零二一年九月三十日 止六個月(「本期間」）之未經審核綜合中期業績・連同比較數字如下： 簡明綜合損益及其他全面收益表 截至二零二一年九月三十日止六個月 | --- | --- | --- | --- | |----------------------------------|-------|--------------------|-------------------| | 收益 \n銷售成本 | 4,5 | 106,523 \n(92,403) | 28,029 \n(18,252) | | ...

Financial Performance - Total revenue for the fiscal year ended March 31, 2021, was approximately HKD 100.5 million, a decrease of 54.9% compared to HKD 223 million in the previous fiscal year[8]. - The construction segment generated revenue of approximately HKD 94.3 million, down from HKD 213 million in the previous year, with a gross margin increase to about 15.1% from 11.8%[9]. - The financing segment recorded revenue of approximately HKD 6.2 million, a decrease of 38.0% from HKD 10 million in the previous year[9]. - Total gross profit for the year was approximately HKD 20.5 million, a decrease of 41.7% from HKD 35.1 million in the previous year, with a gross margin of about 20.4%[8]. - The group recorded contract revenue related to construction and engineering services totaling HKD 94,325,000 for the year ended March 31, 2021[163]. Assets and Liabilities - As of March 31, 2021, the group's cash and bank balances were approximately HKD 90.2 million, down from HKD 136 million in the previous year[14]. - The net asset value as of March 31, 2021, was approximately HKD 332.7 million, compared to HKD 343.1 million in the previous year[14]. - The capital debt ratio was approximately 0.06 as of March 31, 2021, compared to 0.07 in the previous year[14]. - As of March 31, 2021, the group's trade receivables and contract assets amounted to approximately HKD 15,223,000 and HKD 40,896,000, respectively, with impairment losses of approximately HKD 10,030,000 and HKD 2,714,000 deducted[171]. - The group's accounts receivable and interest receivables amounted to approximately HKD 84,477,000, with impairment losses of about HKD 38,159,000 as of March 31, 2021[178]. Employee and Governance - The group had 18 employees as of March 31, 2021, a significant decrease from 73 employees in 2020[21]. - The company has established a mandatory provident fund scheme for all eligible employees in Hong Kong[22]. - The company’s board of directors includes both executive and independent non-executive members, ensuring a balanced governance structure[48]. - The board consists of three executive directors and three independent non-executive directors, ensuring a balanced and independent governance structure[98]. - The company has maintained a competitive compensation package to retain employees[88]. Corporate Strategy and Future Outlook - The company plans to explore potential acquisition targets to develop its construction project business, primarily in the Hong Kong and Macau markets[13]. - The management anticipates that the performance of the financing business will return to levels similar to the previous year in the next fiscal year[9]. - The company believes that the resumption of its shares trading will significantly enhance its financing capabilities and operational capacity[13]. Compliance and Regulations - The group complies with various regulations related to personal data protection and employee welfare[26]. - The board confirmed compliance with corporate governance codes throughout the year[94]. - The company has not entered into any arrangements for the purchase of its own shares or debt securities[70]. - The independent auditor has confirmed that the consolidated financial statements fairly reflect the group's financial position as of March 31, 2021[157]. Shareholder Engagement - The company encourages shareholder participation and communication, particularly during the annual general meeting[107]. - Shareholders can propose resolutions at the annual general meeting, requiring a minimum of 100 shareholders or 5% of voting rights[145]. - The company encourages shareholder attendance at all general meetings, with voting results published on its website[144]. Audit and Financial Reporting - The audit committee is tasked with reviewing the independence and effectiveness of the external auditor[123]. - The audit identified the recognition of contract revenue related to construction contracts as a key audit matter due to the complexity of the revenue recognition process[163]. - The management's estimates of expected credit losses involved significant judgments regarding the probability of default and loss rates[171]. - The audit procedures included sampling checks of customer settlement amounts related to trade receivables and contract assets as of March 31, 2021[172]. Impairment and Valuation - The group recognized an impairment provision of approximately HKD 9,260,000 for trade receivables and a reversal of impairment provision of HKD 443,000 for contract assets during the year[171]. - The management estimates the expected credit loss for accounts receivable based on a "three-stage" model, indicating significant management judgment in determining key assumptions[178]. - The fair value of the group's equity investment in a private company was approximately HKD 19,400,000 as of March 31, 2020[188]. - The board utilized significant management judgment to determine key assumptions for the equity valuation, including adjustments for lack of marketability and control premiums[192].

Financial Performance - Revenue for the six months ended September 30, 2020, was HKD 28,029,000, compared to HKD 18,252,000 for the same period in 2019, representing a growth of 53.5%[3] - Gross profit for the same period was HKD 9,777,000, down from HKD 25,160,000 in 2019, indicating a decline of 61.2%[3] - Other income and gains increased to HKD 6,260,000 from HKD 2,796,000, reflecting a growth of 123.5%[3] - The profit before tax for the period was HKD 2,654,000, compared to HKD 1,378,000 in 2019, marking an increase of 92.7%[3] - Net profit for the period was HKD 1,432,000, up from HKD 1,184,000 in the previous year, which is an increase of 20.9%[3] - Total comprehensive income for the period was HKD 1,257,000, compared to HKD 1,208,000 in 2019, showing a slight increase of 4.1%[9] - Basic earnings per share for the period was HKD 0.07, compared to a loss of HKD 0.20 per share in the same period last year[9] Assets and Liabilities - Non-current assets totaled HKD 47,159,000 as of September 30, 2020, down from HKD 49,719,000 as of March 31, 2020, a decrease of 5.2%[15] - Current assets amounted to HKD 452,027,000, slightly down from HKD 460,697,000 as of March 31, 2020, a decrease of 1.5%[15] - Total liabilities decreased to HKD 154,840,000 from HKD 165,327,000, reflecting a reduction of 6.3%[17] Cash Flow - The company reported a net cash flow from operating activities of -13,542 thousand HKD for the six months ended September 30, 2020, compared to 49,179 thousand HKD in the same period of 2019[33] - Cash and cash equivalents at the end of the period were 125,384 thousand HKD, down from 142,423 thousand HKD at the end of the same period in 2019, reflecting a decrease of approximately 12%[33] - The company reported a net cash outflow from investing activities of 3,947 thousand HKD, compared to a net cash outflow of 35,415 thousand HKD in the same period of 2019, indicating an improvement in cash flow management[33] - The company’s cash flow from financing activities showed a net outflow of 2,826 thousand HKD, compared to a net outflow of 16,584 thousand HKD in the same period of 2019, indicating a reduction in financing costs[33] Revenue Breakdown - The company experienced a significant decrease in revenue from aluminum product trading, which fell to 23,858 thousand HKD from 150,403 thousand HKD year-over-year, a decline of about 84.1%[56] - Total revenue for the six months ended September 30, 2020, was 34,289 thousand HKD, a decrease from 159,087 thousand HKD in the same period of 2019, representing a decline of approximately 78.4%[56] - Revenue from construction projects was approximately HKD 23.9 million, down from HKD 150.4 million in the same period of 2019, representing a decline of 84.1%[86] - Segment profit from construction projects was approximately HKD 6.8 million, a decrease of 39.5% compared to the same period in 2019[86] Shareholder Information - As of September 30, 2020, major shareholder Xu Jiao holds 450,000,000 shares, representing approximately 22.73% of the company's issued share capital[106] - Major shareholder Jue Dao Asset Investment Limited has a beneficial ownership of 400,000,000 shares, accounting for approximately 20.20% of the company's issued share capital[106] - Directors Li Jin Song and Guo Li Feng each hold 4,166,666 shares, which is approximately 0.21% of the company's issued share capital[103] Corporate Governance - The audit committee, consisting of three independent non-executive directors, has reviewed the unaudited condensed consolidated financial statements and expressed satisfaction with the internal control systems[112] - The company has adopted a standard code for securities transactions by directors, confirming compliance during the reporting period[110] - The company has complied with all corporate governance codes except for the separation of roles between the Chairman and CEO[111] Employee Information - The group had 79 employees as of September 30, 2020, an increase from 73 employees as of March 31, 2020[95] - The company’s employee benefits expenses totaled HKD 3,146,000, a decrease from HKD 3,698,000 in the previous year[65] - The company has a stock option plan in place to incentivize employees and attract high-caliber individuals[99] Other Financial Information - The total tax expense for the period was HKD 1,222,000, significantly higher than HKD 194,000 for the same period last year[66] - Trade receivables decreased to HKD 15,598,000 from HKD 43,394,000, indicating a reduction in outstanding receivables[72] - The company recorded a net value of receivables and interest receivables at HKD 96,256,000, up from HKD 91,327,000[76] - The fair value of listed equity investments was HKD 17,395,000, down from HKD 18,682,000[79] - The company has not declared any dividends for the period, consistent with the previous year[71] - The company has not purchased, sold, or redeemed any of its listed securities during the reporting period[115] - The company has not disclosed any other individuals with interests in its shares or related securities as of September 30, 2020[107] - The company has not established a position for a Chief Executive Officer, with the current Chairman also serving as the CEO to provide strong leadership[111]

Financial Performance - For the six months ended September 30, 2020, the company reported revenue of HKD 28,029,000, a decrease from HKD 156,291,000 in the same period of 2019, representing a decline of approximately 82.1%[1] - Gross profit for the same period was HKD 9,777,000, down from HKD 25,160,000 in 2019, indicating a decrease of about 61.2%[1] - The company recorded a pre-tax profit of HKD 2,654,000, compared to HKD 1,378,000 in the previous year, reflecting an increase of approximately 92.7%[1] - The net profit for the period was HKD 1,432,000, up from HKD 1,184,000 in 2019, showing an increase of about 20.9%[1] - Total comprehensive income for the period amounted to HKD 1,257,000, compared to HKD 1,208,000 in the previous year, representing a slight increase of approximately 4.1%[3] - Total revenue and other income amounted to HKD 34,289,000, compared to HKD 159,087,000 in the previous year[25] - The company reported a net loss attributable to ordinary shareholders of approximately HKD 1,468,000, compared to a loss of HKD 4,003,000 in the same period last year[35] Assets and Liabilities - The company's non-current assets were valued at HKD 47,159,000 as of September 30, 2020, down from HKD 49,719,000 at the end of the previous year, a decrease of about 5.2%[6] - Current assets totaled HKD 452,027,000, a decrease from HKD 460,697,000 in the previous year, reflecting a decline of approximately 1.1%[6] - Current liabilities were reported at HKD 122,495,000, down from HKD 142,725,000, indicating a decrease of about 14.2%[6] - Non-current liabilities increased to HKD 32,345 million from HKD 24,602 million, representing a growth of 31.3%[8] - The company's total liabilities, including lease liabilities, amounted to HKD 12,662 million, up from HKD 11,572 million, an increase of 9.4%[8] - The company's total assets net worth stood at HKD 344,346 million, slightly up from HKD 343,089 million[8] Revenue Breakdown - Revenue from construction projects was HKD 23,858 million, compared to HKD 150,403 million in the previous year, indicating a significant decline[21] - Revenue from financial lending decreased to HKD 4,171 million from HKD 5,888 million, a drop of 29.1%[21] - Revenue for the construction projects reached HKD 23,858,000, a significant decrease from HKD 150,403,000 in the same period last year[25] - Revenue from the lending business was approximately HKD 4.2 million, compared to HKD 5.9 million in the same period last year, a decrease of 28.8%[56] Earnings and Shareholder Information - The basic earnings per share for the period was HKD 0.07, compared to a loss of HKD 0.20 per share in the previous year[3] - Total equity attributable to owners of the company rose to HKD 344,530 million, up from HKD 343,237 million, a slight increase of 0.4%[8] - The company did not recommend any dividend payments during this period, consistent with the previous year[38] - The company does not recommend the payment of any dividends for the current period[64] Operational Insights - The company has not commenced any engineering, development, or construction for the mining project in Pakistan during the reporting period[11] - The company plans to continue focusing on the construction market in Macau and Hong Kong post-pandemic[57] - The management believes that the current strategy and potential growth will be sufficient to meet the listing rules requirements[61] - The management is confident in successfully implementing its strategy in the construction project business and financing business in the Macau and Hong Kong markets[58] Risk Management and Compliance - The company maintained strict monitoring of overdue balances to minimize credit risk[39] - The management regularly reviews and closely manages overdue balances[42] - The group has no significant foreign exchange risk as most transactions and confirmed financial assets and liabilities are denominated in HKD or RMB[63] - The Audit Committee, composed of three independent non-executive directors, has reviewed the unaudited condensed consolidated financial statements and expressed satisfaction with the internal control systems[73] Employee and Corporate Governance - The group had 79 employees as of September 30, 2020, an increase from 73 employees as of March 31, 2020[65] - The board believes that the current structure of having the same individual serve as both Chairman and CEO provides strong and effective leadership for the group[72] - The company has established a standard code for directors' securities trading, confirming compliance during the reporting period[70] - There were no purchases, sales, or redemptions of the company's listed securities during the reporting period[74]

Financial Performance - Revenue for the six months ended September 30, 2019, was HKD 156,291 thousand, an increase from HKD 131,131 thousand in the same period of 2018, representing a growth of approximately 19.2%[5] - Gross profit for the same period was HKD 25,160 thousand, compared to HKD 9,890 thousand in 2018, indicating a significant increase of approximately 154.5%[5] - The profit before tax decreased to HKD 1,378 thousand from HKD 24,240 thousand in the previous year, reflecting a decline of approximately 94.3%[5] - The net profit for the period was HKD 1,184 thousand, a sharp decrease from HKD 23,880 thousand in 2018, representing a decline of approximately 95.0%[5] - Total comprehensive income for the period was HKD 1,208 thousand, down from HKD 20,398 thousand in 2018, reflecting a decrease of approximately 94.1%[7] - The company's basic earnings per share for the period was HKD (0.20), compared to HKD 1.14 in the previous year, indicating a significant decline[7] - The group reported a pre-tax loss of approximately HKD 4,003,000 for the period, compared to a profit of HKD 22,476,000 for the same period in 2018[73] Cash Flow and Assets - The company reported a net cash flow from operating activities of HKD 49,179,000 for the six months ended September 30, 2019, compared to a net cash outflow of HKD 194,354,000 in the same period of 2018[17] - The company experienced a net cash outflow from investing activities of HKD 35,415,000 for the six months ended September 30, 2019, contrasting with a net cash inflow of HKD 69,293,000 in the previous year[17] - The company's cash and cash equivalents decreased by HKD 2,820,000 during the period, compared to a decrease of HKD 110,739,000 in the same period of 2018[17] - The cash and cash equivalents at the end of the period stood at HKD 142,423,000, down from HKD 148,954,000 a year earlier[17] - Current assets as of September 30, 2019, totaled HKD 548,915 thousand, compared to HKD 522,318 thousand as of March 31, 2019, showing an increase of approximately 5.1%[10] - Current liabilities increased to HKD 122,242 thousand from HKD 92,522 thousand, representing an increase of approximately 32.1%[12] - The total equity attributable to the owners of the company was HKD 440,818 thousand as of September 30, 2019, compared to HKD 444,797 thousand as of March 31, 2019, indicating a slight decrease[12] Revenue Segmentation - For the six months ended September 30, 2019, the segment revenue from aluminum trading was HKD 150,403 thousand, compared to HKD 33,831 thousand in 2018, representing a significant increase[57] - The construction project segment generated revenue of HKD 11,271 thousand for the six months ended September 30, 2019, up from HKD 2,846 thousand in the same period of 2018[57] - The revenue from aluminum product trading was HKD 150,403,000, while construction project revenue was HKD 5,888,000 for the six months ended September 30, 2019[64] - Major customer A contributed HKD 93,151 thousand to revenue in 2019, compared to HKD 20,929 thousand in 2018, indicating a substantial increase in dependency on this customer[60] Operational Costs and Expenses - The company incurred corporate and other unallocated expenses of HKD 15,999 thousand for the six months ended September 30, 2019, compared to HKD 4,674 thousand in 2018, reflecting increased operational costs[57] - The group’s employee benefits expenses, including directors' remuneration, increased to HKD 3,698,000 for the period, compared to HKD 2,247,000 in the previous year, marking an increase of 64%[68] Shareholder Information - Major shareholder Xu Jiao holds 450,000,000 shares, accounting for 22.73% of the company[114] - Another major shareholder, Jue Dao Asset Investment Limited, owns 400,000,000 shares, which is 20.20% of the company[116] - The company reported a total of 4,166,666 shares held by each of the directors, representing approximately 0.21% of the issued share capital[105] Governance and Compliance - The company’s financial statements are prepared in accordance with Hong Kong Financial Reporting Standards, ensuring compliance with local regulations[24] - The board confirmed compliance with the standards set out in the Securities Trading Code during the reporting period[121] - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited condensed consolidated financial statements and expressed satisfaction with the internal control systems[123] - The company has established an audit committee to oversee financial reporting and risk management[123] Future Outlook - The group plans to continue focusing on construction projects in Macau and Hong Kong to improve financial performance in the coming year[91] - The acquisition of the remaining 48.16% stake in I Tong Engineering Company Limited is expected to enhance the group's operational flexibility and market position in Macau's construction industry[89]

Financial Performance - Total revenue for the year ended March 31, 2019, was approximately HKD 97.1 million, an increase of over 4.6 times compared to approximately HKD 21.0 million in the previous fiscal year[10] - Revenue from construction projects increased from approximately HKD 8.3 million in 2018 to approximately HKD 85.3 million in 2019, representing a growth of over 926.5%[10] - The gross profit for the year was approximately HKD 15.6 million, up 40.5% from approximately HKD 11.1 million in 2018, with a gross profit margin of about 16.1%[10] - The financing loan business recorded revenue of approximately HKD 11.5 million, reflecting an 11.0% increase from the previous year[10] - The construction project segment's gross profit margin decreased to approximately 4.8% from about 9.0% in the previous year[10] - The group recorded contract revenue related to construction and engineering services totaling HKD 85,340,000 for the year ended March 31, 2019[173] Cash and Assets - As of March 31, 2019, the group's cash and bank balances were approximately HKD 145.2 million, down from HKD 265.6 million in 2018, while net assets were about HKD 442.8 million, compared to HKD 455.1 million in 2018[20] - The group had 20 employees as of March 31, 2019, a decrease from 32 employees in 2018, reflecting a reduction in workforce[26] - As of March 31, 2019, the group's trade receivables and loans receivable amounted to approximately HKD 14,785,000 and HKD 152,753,000, respectively[180] - The group recognized impairment provisions of approximately HKD 8,000,000 for trade receivables and HKD 1,013,000 for loans receivable during the year[180] Compliance and Governance - The company is under scrutiny from the Hong Kong Stock Exchange regarding compliance with listing rules, with a potential delisting if compliance is not achieved within 18 months[15] - The management believes that current strategies and potential growth will be sufficient to meet the requirements of the listing rules[17] - The company has maintained sufficient public float as required by listing rules throughout the year[87] - The company has adhered to the corporate governance code, with no deviations reported for the fiscal year ending March 31, 2019[104] - The board consists of three executive directors and three independent non-executive directors, ensuring a balanced and independent governance structure[107] Shareholder Information - The company has not declared any dividends for the years ended March 31, 2019, and 2018[11] - The company did not recommend any dividend payment for the fiscal year ending March 31, 2019[47] - As of March 31, 2019, the company had no distributable reserves available for shareholders[55] - Major shareholders include Ms. Xu with a controlled entity holding 450,000,000 shares, representing 22.73% of the issued capital, and Jue Dao Asset Investment Limited with 400,000,000 shares, representing 20.20%[84] Risk Management - The group did not use any financial instruments to hedge foreign exchange risks during the fiscal year, indicating a potential exposure to currency fluctuations[24] - The group plans to continue monitoring foreign exchange risks and may consider hedging strategies if necessary in the future[24] - The group’s internal controls over the assessment of trade receivables and loans receivable were evaluated, including the assessment of debtors and collateral[180] Audit and Financial Reporting - The independent auditor's report confirms that the consolidated financial statements fairly reflect the group's financial position as of March 31, 2019[167] - The audit was conducted in accordance with Hong Kong auditing standards, ensuring the independence of the auditors[168] - The auditor's goal is to obtain reasonable assurance that the consolidated financial statements are free from material misstatement, whether due to fraud or error[187] - The audit committee assists the board in overseeing the financial reporting process of the group[186] Employee and Compensation - The group has established a mandatory provident fund scheme for eligible employees in Hong Kong, with contributions based on a specific percentage of salary costs[27] - The company has maintained competitive compensation and benefits to retain employees, including a stock option plan for eligible participants[97] - The remuneration of directors is determined based on their employment contracts, company performance, and market conditions[145] Environmental and Social Responsibility - The group is committed to environmental protection and aims to reduce energy and resource usage, with further details to be disclosed in the upcoming environmental, social, and governance report[30]