Financial Performance - For the financial year ended March 31, 2022, the Group's revenue was approximately HK$38.9 million, a significant decrease from HK$339.5 million in the previous year[12]. - Profit attributable to owners of the parent for the same period was HK$285.1 million, down from HK$466.7 million in 2021[12]. - Basic earnings per share decreased to HK1.88 cents from HK3.07 cents year-on-year[12]. - The Group's revenue for the fiscal year was approximately HK$38.9 million, a significant decrease from HK$339.5 million in the previous year, reflecting a decline of about 88.5%[35]. - Profit attributable to the owners of the parent was HK$285.1 million, down from HK$466.7 million in the prior year, representing a decrease of approximately 38.8%[35]. - The Group recognized no revenue from property development during the year, compared to approximately HK$301.3 million in 2021, with joint venture projects contributing approximately HK$858.7 million in sales recognition[73][78]. Asset Management and Investments - Total assets increased to HK$10,605.6 million from HK$10,203.1 million[12]. - Net assets rose to HK$5,183.9 million compared to HK$5,034.3 million in the previous year[12]. - The gearing ratio improved to 68.2% from 77.1% in the prior year, indicating a reduction in financial leverage[12]. - The Group aims to improve its asset management and increase investment returns by restructuring its debt and optimizing its asset portfolio[61]. - The Group's gross rental income from property investment for the financial year amounted to approximately HK$91.6 million, representing an increase of approximately 13.9% compared to HK$80.4 million in 2021[109][111]. - The Group's investment properties had a total carrying value of HK$135.1 million as of March 31, 2022, down from HK$571.2 million in the previous year[108][111]. - The Group's asset management fee income increased to approximately HK$30.8 million in the reporting year, up from HK$24.7 million in 2021, primarily due to the addition of new assets under management[125][132]. - The Group's asset management services contributed approximately 79.2% of its total revenue for the reporting year[125]. Property Development and Projects - The Group plans to actively replenish its land bank for future development of new projects and share of profits from joint ventures[29]. - The profit for the financial year was mainly driven by the delivery of jointly developed property projects[29]. - The Group launched "The Met. Azure," achieving gross contracted sales of approximately HK$1.4 billion with all units sold on the first day[37]. - The "maya" project, co-developed with CIFI, recorded contracted sales of approximately HK$4.2 billion, with 323 units sold[38]. - The "Altissimo" project, co-developed with Country Garden and China State Construction, achieved contracted sales of approximately HK$6.2 billion, with 528 units sold[39]. - The Group acquired four old building projects for redevelopment into "The Met." series, enhancing its land bank for future developments[42]. - The Group completed the acquisition of a site at Ting Yip Street, with a gross floor area of approximately 46,000 square feet, to be redeveloped as part of "The Met." series[83]. - The Group acquired full ownership of a site at Fei Fung Street, with a total site area of approximately 10,400 square feet, for redevelopment as part of "The Met." series[84]. - The Group has ongoing demolition work for several sites acquired for redevelopment as part of "The Met." series, indicating a strategic focus on expanding its property portfolio[85][86][87]. Market Conditions and Economic Outlook - The Hong Kong economy showed steady growth in 2021, with a generally buoyant residential property market despite some market uncertainties[28]. - The Group maintained a cautiously optimistic strategy towards the Hong Kong property development market, adapting to changing market conditions[28]. - The residential market is expected to see a slight increase in prices in 2022, driven by consistent demand and a low interest rate environment[60]. - Hong Kong's real GDP contracted by 4.0% year-on-year in Q1 2022, and by 3.0% on a seasonally adjusted quarter-to-quarter basis due to weak domestic and external demand amid the pandemic[158]. - The Hong Kong government launched measures such as consumption vouchers and employment support schemes to stabilize the economy in the first half of 2022[159]. Corporate Governance and Management - The company has a diverse board with members having extensive experience in various sectors, including property development, finance, and surveying[181]. - The Group's management team is composed of members with qualifications from prestigious institutions, enhancing their expertise in the industry[198]. - The company is committed to maintaining high standards of corporate governance through its independent non-executive directors[183]. - The Group's legal counsel, Mr. Ip, has been qualified as a solicitor in Hong Kong since December 1996[193]. - The executive team is focused on strategic planning and operational management to enhance property sales and leasing performance[177]. Social Responsibility and Sustainability - The Group has committed to corporate social responsibility by donating anti-pandemic supplies, benefiting over 10,000 individuals[56]. - The Group established a formal ESG Committee to implement a 5-year ESG Roadmap and participates in GRESB assessments for sustainability[168]. - The Group implemented stricter health guidelines at properties and provided rental relief to tenants affected by the pandemic[173]. - The Group is committed to innovating for a sustainable future[176].

Financial Performance - The Group's revenue for the six months ended September 30, 2021, was approximately HK$6.0 million, a significant decrease from approximately HK$250.3 million for the same period in 2020[13]. - Profit attributable to owners of the parent for the same period was approximately HK$148.6 million, compared to approximately HK$71.9 million in the previous year, indicating a year-over-year increase of 106.5%[13]. - Revenue for the six months ended September 30, 2021, was HK$5,964,000, a decrease of 97.6% compared to HK$250,292,000 in the same period of 2020[144]. - Gross profit for the same period was HK$5,838,000, down 95.0% from HK$117,120,000 year-on-year[144]. - Profit before tax increased to HK$145,365,000, representing a 57.3% increase from HK$92,413,000 in the previous year[144]. - Profit for the period was HK$148,636,000, up 103.5% compared to HK$73,109,000 in the same period of 2020[144]. - Total comprehensive income for the period was HK$120,815,000, an increase of 66.8% from HK$72,376,000 year-on-year[145]. - Earnings per share attributable to ordinary equity holders of the parent was HK0.98 cent, compared to HK0.47 cent in the previous year, reflecting a 108.5% increase[145]. Property Development - The completion of jointly developed property projects contributed to the profit, with net profit from the delivery of remaining units of two joint venture projects amounting to approximately HK$141.7 million[18]. - The "maya" project has sold 310 out of 326 units, generating total sales proceeds of approximately HK$3.9 billion, with the Group holding a 50% equity interest[19]. - The "Altissimo" project has sold 516 out of 547 units, with total sales proceeds of approximately HK$5.8 billion, and the Group owns a 40% equity interest in this project[20]. - The presale for "The Met. Azure" project launched in August 2021, with 208 out of 320 units sold, resulting in contracted sales of approximately HK$967.7 million[24]. - The superstructure work for "The Met. Azure" is currently ongoing, with expected unit delivery in the fourth quarter of 2022[24]. - The Group's projects are well-received, particularly among young home buyers and single individuals, indicating a positive market response[24]. Investment Properties - As of September 30, 2021, the Group's investment properties portfolio had a total carrying value of approximately HK$580.0 million, an increase from approximately HK$571.2 million as of March 31, 2021[44]. - The Group received gross rental income of approximately HK$6.0 million for the reporting period, representing a 22.4% increase compared to approximately HK$4.9 million for the six months ended September 30, 2020[47]. - The Group has a 50% equity interest in two commercial properties, "Lake Silver" and "The Parkside," both of which have been refurbished, achieving full occupancy at Lake Silver and over 90% occupancy at The Parkside[53]. - The Group aims to expand its investment properties portfolio through self-acquisition and strategic partnerships, focusing on securing recurring rental income and capital appreciation[60]. Financial Position - As of September 30, 2021, the Group's total assets less current liabilities were approximately HK$8,475.0 million, an increase of 6.0% from HK$7,994.6 million as of March 31, 2021[64]. - The current ratio improved to approximately 2.8 times as of September 30, 2021, compared to 2.4 times as of March 31, 2021[64]. - Cash and cash equivalents decreased to approximately HK$702.2 million as of September 30, 2021, down from HK$826.5 million as of March 31, 2021[64]. - Aggregate bank borrowings increased to approximately HK$5,079.1 million as of September 30, 2021, up from HK$4,696.9 million as of March 31, 2021, resulting in a gearing ratio of approximately 87.0%[64]. - The effective interest rate of bank borrowings rose to approximately 2.3% per annum as of September 30, 2021, compared to 1.8% as of March 31, 2021[68]. - The Group's capital commitment as of September 30, 2021 was approximately HK$975.0 million, significantly higher than HK$516.0 million as of March 31, 2021[64]. Corporate Governance - The Company has complied with the applicable code provisions of the Corporate Governance Code throughout the six months ended September 30, 2021[128]. - The company emphasized its commitment to high standards of corporate governance, focusing on transparency, accountability, and integrity[129]. - The Audit Committee, comprising three independent non-executive directors, reviewed the unaudited condensed consolidated financial information for the six months ended September 30, 2021[134]. Market Conditions - The property market remains stable due to low interest rates and strong end-user demand, with many developers launching new projects[84]. - The unemployment rate in Hong Kong improved to 5.5% from April to June 2021, reflecting a rebound in the labor market[83]. - The Group is cautiously optimistic about the property market and will continue to seek opportunities for property acquisition and collaboration with strategic partners[89]. Environmental and Health Measures - The Group has implemented stricter testing and quarantine guidelines at properties and construction sites to safeguard health amid the COVID-19 pandemic[91]. - The Group encourages environmental friendliness by promoting paper recycling and energy-saving practices within its operations[92]. - All development projects comply with the latest Building Energy Codes for Mechanical, Electrical, and Plumbing (MEP) systems[94][95]. - The Group provided rental relief and support to tenants affected by the pandemic[91].

Financial Performance - Revenue for the year ended March 31, 2021, was HK$314.8 million, a decrease of 86.7% from HK$2,372.1 million in 2020[13]. - Profit attributable to owners of the parent increased to HK$466.7 million, up 2.9% from HK$457.3 million in the previous year[13]. - For the financial year ended March 31, 2021, the Group's revenue was approximately HK$314.8 million, a decrease of 86.7% from HK$2,372.1 million in 2020, while profit attributable to owners was approximately HK$466.7 million, an increase of 2.9% from HK$457.3 million in 2020[55]. - Revenue from property development during the year was approximately HK$301.3 million, down from HK$2,369.6 million in 2020, primarily due to the delivery of remaining stocks of The Met. Acappella[55]. - The Group's gross contract sales amounted to HK$2,572.9 million, down from HK$3,735.6 million in 2020[32]. - The average price per square foot for properties sold increased to HK$24,517 from HK$19,454 in 2020, reflecting a 26.5% increase[32]. Assets and Liabilities - Total assets as of March 31, 2021, were HK$10,203.1 million, compared to HK$8,738.4 million in 2020, representing a growth of 16.8%[13]. - The gearing ratio rose to 77.1% from 53.9%, indicating an increase in leverage[13]. - As of March 31, 2021, the Group's total bank borrowings amounted to approximately HK$4,696.9 million, up from HK$3,370.2 million in 2020[84]. - The Group's capital commitment as of March 31, 2021, was approximately HK$516.0 million, an increase from HK$486.7 million in 2020[79]. - The Group's investment properties had a total carrying value of approximately HK$571.2 million as of March 31, 2021, down from approximately HK$654.1 million the previous year[71]. Development Projects - The Group successfully sold 294 units of the "maya" project with contracted sales of approximately HK$3.6 billion as of the date of the annual report[33]. - The "Altissimo" project saw 505 units sold with contracted sales of approximately HK$5.3 billion, with the Group holding a 40% interest[33]. - The Group plans to launch "The Met. Azure," a new residential project expected to attract young homebuyers, featuring 320 units with a saleable area of approximately 200 square feet[33]. - The Group successfully acquired 100% interest in the redevelopment project "The Met. Azure" with a gross floor area of 90,000 square feet[39]. - The Group has acquired properties at Tai Kok Tsui and Ap Lei Chau, totaling a gross floor area of 61,500 square feet and 37,100 square feet respectively[39]. Strategic Initiatives - The company plans to focus on market expansion and new product development in the upcoming fiscal year[13]. - Management discussed potential mergers and acquisitions as part of their growth strategy[13]. - The Group is committed to enhancing its land bank through government land bidding and project acquisitions, focusing on sites with convenient transportation[35]. - The Group aims to capture market opportunities while ensuring solid returns for shareholders amidst economic uncertainties[47]. - The Group plans to incorporate smart home facilities in residential projects to enhance buyers' quality of life[47]. Corporate Governance - The company emphasizes the importance of corporate governance, committing to high standards of transparency, accountability, integrity, and independence[129]. - The company adopted the principles of the Corporate Governance Code and complied with its provisions throughout the year ended March 31, 2021[130]. - The Board periodically reviews compliance with the Corporate Governance Code to maximize stakeholder benefits[132]. - The company has a code of conduct for securities transactions by Directors, confirming compliance with required standards throughout the review year[133]. - The Board consists of three Independent Non-Executive Directors (INEDs), representing over one-third of the Board, ensuring strong independent decision-making[148]. Management and Personnel - The company appointed Mr. Deng Haokang as CEO and executive director, responsible for overall business management and strategic planning[109]. - The company has a strong management team with extensive experience in property development, finance, and surveying, enhancing operational efficiency[112][116][119]. - The Group had 136 employees as of March 31, 2021, an increase from 126 employees in 2020[95]. - All Directors participated in continuous professional development to enhance their knowledge and skills, complying with code provisions[170]. - The company has arranged appropriate liability insurance for Directors against liabilities arising from legal actions on corporate activities[170]. Community Engagement - The Group actively supports community welfare initiatives, including donations to elderly care homes and low-income families during the pandemic[48]. - The Group promotes environmental friendliness by encouraging a paper-recycling culture and participating in the BEAM Plus assessment scheme for its property developments[98]. - All development projects conform to the latest Building Energy Codes, ensuring compliance with various environmental laws and regulations[99]. Risk Management - The Group's treasury policy includes diversifying funding sources and regularly reviewing major funding positions to ensure adequate financial resources[87]. - The Group has entered into interest rate swap contracts to convert part of its borrowings from floating rates to fixed rates to mitigate interest rate risk[88]. - The overall effectiveness of internal controls and risk management systems was assessed by the Audit Committee[175].

Financial Performance - Revenue for the year ended March 31, 2021, was HK$314.8 million, a decrease of 86.7% from HK$2,372.1 million in 2020[13]. - Profit attributable to owners of the parent increased to HK$466.7 million, up 2.9% from HK$457.3 million in the previous year[13]. - For the financial year ended March 31, 2021, the Group's revenue was approximately HK$314.8 million, a decrease of 86.7% from HK$2,372.1 million in 2020, while profit attributable to owners was approximately HK$466.7 million, a slight increase from HK$457.3 million in 2020[55]. - Revenue from property development during the year was approximately HK$301.3 million, down from HK$2,369.6 million in 2020, primarily due to the delivery of remaining stocks of The Met. Acappella[55]. - The Group's gross contract sales amounted to HK$2,572.9 million, down from HK$3,735.6 million in 2020[32]. Assets and Liabilities - Total assets as of March 31, 2021, were HK$10,203.1 million, compared to HK$8,738.4 million in 2020, representing a growth of 16.8%[13]. - The gearing ratio rose to 77.1% from 53.9%, indicating an increase in leverage[13]. - As of March 31, 2021, the Group's total bank borrowings amounted to HK$4,696.9 million, up from HK$3,370.2 million in 2020[84]. - The Group's capital commitment as of March 31, 2021, was approximately HK$516.0 million, an increase from HK$486.7 million in 2020[79]. Property Development and Projects - The Group successfully sold 294 units of the "maya" project with contracted sales of approximately HK$3.6 billion as of the annual report date[33]. - The "Altissimo" project saw 505 units sold with contracted sales of approximately HK$5.3 billion, with the Group holding a 40% interest[33]. - The Group has secured three redevelopment projects with over 80% ownership to replenish its land bank[37]. - Approximately 228,000 square feet of gross floor area was added to the Group's land bank during the financial year[27]. - The Group plans to launch "The Met. Azure," a new residential project expected to be well-received by homebuyers[33]. Corporate Governance - The Company emphasizes the importance of corporate governance, committing to high standards of transparency, accountability, integrity, and independence[129]. - The Company adopted the principles of the "Corporate Governance Code" and complied with applicable code provisions throughout the year ended March 31, 2021[130]. - The Board periodically reviews compliance with the Corporate Governance Code to safeguard stakeholder benefits[132]. - The Group's strategy focuses on prudent investment in projects to maximize shareholder returns, actively exploring opportunities to increase its land portfolio[137]. - The Board consists of three Independent Non-Executive Directors (INEDs), representing more than one-third of the Board, ensuring strong independent decision-making[148]. Management and Leadership - The company appointed Mr. Deng Haokang as CEO and executive director, responsible for overall management and strategic planning since February 2021[109]. - The management team is actively involved in strategic planning for long-term growth and sustainability in the real estate sector[109]. - The company is focused on expanding its property development and management operations in Hong Kong and potentially overseas markets[115]. - The company has a strong board of directors with extensive experience in auditing, accounting, and property management, including Mr. Li Wing Sum and Mr. Sung Tze Wah[113][116]. Market Outlook and Strategy - Future guidance indicates a cautious outlook due to market uncertainties but aims for gradual recovery[13]. - The Group is cautiously optimistic about the property market and will continue to monitor market changes while seeking opportunities for property acquisition and collaboration with strategic partners[103]. - The property sector is expected to remain resilient in the long term, supported by a low-interest rate environment and stable demand for residential units[103]. - The Group plans to replenish its land bank through public tenders, old building acquisitions, and land use conversions to support future development[103]. Social Responsibility and Environmental Initiatives - The Group has actively supported social welfare organizations, providing over 1,200 mooncakes to elderly care homes during the pandemic[48]. - The Group promotes environmental friendliness by encouraging paper recycling and energy-saving practices, and participates in the BEAM Plus assessment scheme for environmental certification[98]. - All development projects conform to the latest Building Energy Codes, ensuring compliance with various environmental laws and regulations[99].

Financial Performance - The Group's revenue for the six months ended 30 September 2020 amounted to approximately HK$250.3 million, a decrease of 88.7% compared to approximately HK$2,223.9 million for the same period in 2019[19] - Profit attributable to owners of the parent for the reporting period was approximately HK$71.9 million, down 87.6% from approximately HK$579.3 million in the previous year[19] - The interim report highlights a significant reduction in both revenue and profit, indicating challenges faced during the reporting period[19] - The decrease in revenue and profit was primarily attributed to the timing of project completions, affecting the overall financial performance[19] - Gross profit for the same period was HK$117,120,000, down 87.88% from HK$967,257,000 in 2019[121] - Profit before tax for the period was HK$92,413,000, a decrease of 87.14% compared to HK$716,782,000 in the previous year[121] - Profit for the period was HK$73,109,000, down 87.37% from HK$578,754,000 in 2019[121] - Basic and diluted earnings per share attributable to ordinary equity holders of the parent were HK$0.47 cents, a decline from HK$3.81 cents in the same period last year[122] Revenue Breakdown - Revenue recognized in the property development segment during the reporting period was approximately HK$245.4 million, a decline of 88.9% from approximately HK$2,222.8 million in the same period last year[21] - The property development segment generated revenue of HK$245,374,000, while the property investment segment contributed HK$4,918,000 for the six months ended September 30, 2020[153] - Revenue recognized from the sale of properties amounted to HK$17,346,000 for the six months ended 30 September 2020, compared to HK$1,949,121,000 in the same period of 2019, indicating a significant decrease[158] Project Developments - The Group launched a new luxury residential brand series "NOUVELLE" in collaboration with CIFI Holdings Group Co., Ltd, with the project "maya" having sold 266 out of 308 units, generating a total contracted sales amount of approximately HK$3.1 billion[22] - The Group expects some existing projects under development to complete in the second half of the financial year 2021, which may impact future revenue and profit[19] - The "Altissimo" project has sold 472 of 547 units, with a total contracted sales amount of approximately HK$4.4 billion[25] - The Group holds a 50% interest in the "maya" development project and is responsible for project management[22] - The new "The Met." project in Tsing Yi has an expected total permitted residential floor area of approximately 80,000 square feet and is set for pre-sale next year[27] - A new redevelopment site in Ap Lei Chau has a total attributable gross floor area of approximately 37,100 square feet, with demolition work expected to start in Q1 next year[28] Investment Properties - As of 30 September 2020, the Group's investment properties had a total carrying value of approximately HK$621.2 million[39] - Gross rental income for the period was approximately HK$4.9 million, an increase from HK$2.4 million in the same period last year[40] - The occupancy rate of the investment property "The Parkside" is over 80%[42] - The rental yield of the investment property project acquired in 2019 was improved due to renovations and tenant mix enhancements, achieving full occupancy[44] - The Group continues to seek opportunities to expand its investment properties portfolio for recurring income and capital appreciation[49] Financial Position - As of September 30, 2020, the Group's total assets less current liabilities were approximately HK$7,894.8 million, an increase from approximately HK$7,198.9 million as of March 31, 2020[54] - The current ratio as of September 30, 2020, was approximately 2.7 times, up from approximately 2.5 times as of March 31, 2020[54] - Aggregate bank borrowings as of September 30, 2020, amounted to approximately HK$4,133.1 million, compared to approximately HK$3,370.2 million as of March 31, 2020[54] - The gearing ratio was approximately 76.3% as of September 30, 2020, an increase from approximately 53.9% as of March 31, 2020[54] - The Group's cash and cash equivalents were approximately HK$594.3 million as of September 30, 2020, down from approximately HK$853.6 million as of March 31, 2020[54] Corporate Governance - The Company has complied with the applicable code provisions of the Corporate Governance Code throughout the six months ended September 30, 2020[105] - The company has maintained a high standard of corporate governance, emphasizing transparency and accountability to enhance competitiveness and operating efficiency[106] - No share options were granted, lapsed, cancelled, or outstanding under the Share Option Scheme during the review period[99] - The Share Option Scheme aims to provide incentives for eligible persons contributing to the development and growth of the Group[95] Shareholder Information - As of September 30, 2020, WOG held 11,400,000,000 shares of the Company, representing 75.0% of the total issued share capital of 15,200,000,000 shares[92] - The Company’s substantial shareholders include WOG, Mr. Tang Ching Ho, and Ms. Yau Yuk Yin, all holding significant shares[92] Cash Flow and Expenses - Net cash flows used in operating activities amounted to HK$919,917,000, a significant increase from HK$104,445,000 in the same period of 2019[133] - Interest received increased to HK$25,611,000 from HK$11,001,000 year-on-year[137] - Dividend paid decreased to HK$109,440,000 from HK$250,040,000 in the previous year[137] - The Group's total cash outflow from financing activities was HK$562,280,000, contrasting with an outflow of HK$512,855,000 in the previous year[137] Disposals and Acquisitions - The company disposed of subsidiaries with net assets totaling HK$93,158,000 during the six months ended September 30, 2020, which included gains on disposals amounting to HK$30,800,000[198] - The cash inflow from the disposals of subsidiaries was HK$26,860,000 from City Global and HK$66,298,000 from Longable, resulting in a total cash inflow of HK$93,158,000[198] - The financial impacts of the disposals of subsidiaries are summarized, indicating a strategic move to optimize asset management[197]

Financial Performance - Revenue for the year ended March 31, 2020, was HK$2,372.1 million, a decrease of 16.2% from HK$2,831.8 million in 2019[10]. - Profit attributable to owners of the parent for 2020 was HK$457.3 million, down 8.6% from HK$500.3 million in 2019[10]. - Basic earnings per share decreased to HK3.01 cents in 2020 from HK3.29 cents in 2019[10]. - Total assets as of March 31, 2020, were HK$8,738.4 million, a decline from HK$11,070.3 million in 2019[10]. - Net assets increased to HK$4,715.9 million in 2020 from HK$4,489.5 million in 2019[10]. - The gearing ratio rose to 53.9% in 2020 compared to 44.2% in 2019[10]. - The Group's total revenue for the year was approximately HK$2,372.1 million, a decrease from HK$2,831.8 million in the previous year[24]. - Profit attributable to owners of the parent was HK$457.3 million, down from HK$500.3 million in the prior year[24]. Property Development - Contracted sales amount reached HK$3,735.6 million, an increase from HK$3,553.9 million in the previous year[24]. - The average price per square foot increased to HK$19,454 from HK$18,107 year-on-year[24]. - The "Altissimo" property development project sold 429 units with contracted sales amounting to approximately HK$3.7 billion[26]. - The "maya" project achieved sales of 253 units with contracted sales of approximately HK$2.9 billion[27]. - All units of "The Met. Acappella" were sold out, totaling sales of HK$2.7 billion[31]. - Approximately 70% of the gross floor area of the LADDER Dundas commercial building has been leased[34]. - The Group's existing land bank consists of residential sites with a total gross floor area of approximately 920,000 square feet[45]. - The Group plans to launch a new project in Tsing Yi featuring approximately 300 studio flats with a saleable floor area of about 200 square feet in Q1 2021[42]. Market Strategy and Outlook - The company plans to focus on market expansion and new product development in the upcoming fiscal year[10]. - The company is exploring potential mergers and acquisitions to enhance its market position[10]. - Future guidance indicates a cautious outlook due to market uncertainties but aims for gradual recovery[10]. - The Group anticipates stable growth in project sales as local property demand is expected to stabilize[42]. - The Group is committed to land replenishment through government land bidding and project acquisitions, focusing on sites with convenient transportation[45]. Corporate Governance and Management - The Group's management acknowledges the contributions of its staff in maintaining stable development amid a competitive environment[61]. - The company has appointed independent non-executive directors with significant industry experience, strengthening its board composition[106]. - The board's diverse expertise spans accounting, surveying, and property management, which is crucial for informed decision-making[105]. - The Group's treasury policy includes diversifying funding sources and regularly reviewing major funding positions to ensure adequate financial resources[88]. Social Responsibility and Community Engagement - The Group actively participates in community support initiatives, including distributing 10,000 bottles of hand wash to disadvantaged groups during the COVID-19 pandemic[59][60]. - The Group emphasizes corporate social responsibility by supporting various social welfare organizations and community programs[58]. - The Group encourages staff participation in social activities, with 16 employees and their family members participating in the Hong Kong Disneyland 10K Weekend event[159]. Environmental and Sustainability Initiatives - The Group is committed to improving the efficiency of resource use and promoting green buildings to reduce negative environmental impacts[125]. - The Group's environmental policy aims to reduce the lifecycle impact of properties on the environment[187]. - The Group has implemented measures to reduce greenhouse gas emissions, including purchasing video conference equipment and electric vehicles[195]. - The Group's total greenhouse gas emissions amounted to 48.5 tonnes of CO2 equivalent, with an intensity of 1.67 tonnes per thousand square feet of gross floor area[193]. Risk Management - The Board will conduct an annual review of the risk management and internal control system, covering all material controls including finance, operation, and compliance[128]. - The Group has established a risk management and internal control system to reduce risks and seize opportunities, which is crucial for maintaining good corporate governance[130]. - The Group has identified various risks related to sustainable development, including project quality risk, and has implemented measures such as establishing a new set of building quality criteria covering 25 scopes of standards[136]. Employee Relations and Development - The Group employs 126 employees as of March 31, 2020, an increase from 120 employees in 2019[88]. - The Group provides various employee benefits, including hospitalization medical insurance, outpatient medical benefits, and training subsidies for professional bodies[164]. - The Group encourages employees to pursue continuing education and offers reimbursement for approved training programs[170]. - The Group has developed policies to regulate employment conditions, including remuneration, recruitment, and anti-discrimination measures, to protect employee rights and attract talent[162].

Financial Performance - The Group's revenue for the six months ended 30 September 2019 amounted to approximately HK$2,223.9 million, a decrease of 18.5% from approximately HK$2,729.7 million for the same period in 2018[9] - Profit attributable to owners of the parent for the reporting period was approximately HK$579.3 million, representing an increase of 5.4% compared to approximately HK$550.3 million for the six months ended 30 September 2018[9] - Revenue recognized in the property development segment during the reporting period was approximately HK$2,222.8 million, down 18.5% from approximately HK$2,726.1 million for the same period in 2018[9] - Revenue for the six months ended September 30, 2019, was HK$2,223,937, a decrease of 18.5% compared to HK$2,729,749 in the same period of 2018[91] - Gross profit for the period was HK$967,257, down from HK$1,082,974, reflecting a gross profit margin decrease[91] - Profit before tax decreased to HK$716,782, down 29.5% from HK$1,016,752 in the previous year[91] - Profit for the period was HK$578,754, a decline of 32.9% compared to HK$862,138 in the same period of 2018[91] - Total comprehensive income for the period was HK$578,567, down from HK$862,138 in the previous year[92] Property Development and Sales - The Met. Acappella, the Group's third residential project in Sha Tin district, was completed and delivered in May 2019, with 325 out of 336 units sold as of the date of the interim report[9] - The Group launched a luxury residential series "NOUVELLE" with the first project "maya," selling 194 out of 272 units released, representing a sales rate of approximately 71.4%[10] - The "Altissimo" project has sold 390 out of 508 units released, achieving a sales rate of approximately 76.7% as of the interim report date[11] - Revenue from property sales was HK$2,221,540,000, down from HK$2,723,584,000, reflecting a decline of 18.5% year-over-year[140] - Revenue from property sales for the six months ended September 30, 2019, was HK$1,949,121,000, a slight decrease from HK$1,954,314,000 in the same period of 2018[145] Investment Properties - The Group's investment properties had a total carrying value of approximately HK$704.1 million as of September 30, 2019, down from approximately HK$809.5 million as of March 31, 2019[22] - Gross rental income for the reporting period was approximately HK$2.4 million, a decrease of approximately 61.3% compared to HK$6.2 million for the same period in 2018[22] - The Group is actively seeking opportunities to expand its investment property portfolio to secure stable recurring rental income[27] - A refurbishment project at "The Parkside" is expected to enhance rental income and visitor traffic upon completion in late 2019 and early 2020[26] Financial Position and Ratios - As of September 30, 2019, the Group's total assets less current liabilities were approximately HK$6,883.7 million, down from HK$7,281.9 million as of March 31, 2019[28] - The current ratio improved to approximately 1.97 times as of September 30, 2019, compared to 1.85 times as of March 31, 2019[28] - Aggregate bank borrowings amounted to approximately HK$3,659.0 million as of September 30, 2019, a decrease from HK$3,850.4 million as of March 31, 2019[33] - The gearing ratio increased to approximately 56.7% as of September 30, 2019, compared to 44.2% as of March 31, 2019[33] - The Group's cash and cash equivalents were approximately HK$943.8 million as of September 30, 2019, down from HK$1,878.9 million as of March 31, 2019[28] Corporate Governance - The Company has complied with the applicable code provisions of the Corporate Governance Code throughout the six months ended September 30, 2019[72] - The Group is committed to maintaining high standards of corporate governance to enhance competitiveness and ensure sustainable development[73] - All Directors complied with the required standards set out in the Model Code for Securities Transactions throughout the review period[80] Share Capital and Dividends - As of September 30, 2019, WOG Group holds a substantial interest of 11,400,000,000 shares, representing 75.0% of the Company's total issued share capital[62] - As of September 30, 2019, the total issued share capital of the Company was 15,200,000,000 shares[3] - The Group paid dividends totaling HK$106,400,000 and HK$143,640,000 for the final and special dividends of 2019, respectively[100] - The Group paid a special dividend of HK$0.945 per ordinary share and a final dividend of HK$0.70 per ordinary share, compared to HK$0.65 in the previous year[164] Economic Environment - Hong Kong's GDP contracted by 3.2% quarter-on-quarter in real terms in Q3 2019, influenced by US-China trade negotiations, Brexit uncertainty, and local social events[47] - Strong demand for home ownership and low future housing supply are expected to support the residential property market in Hong Kong[48] - The Group plans to continue monitoring market changes and seek opportunities for property acquisition and collaboration with strategic partners to enhance its real estate business[49] Accounting Standards - The company adopted new accounting standards including HKFRS 16 for leases, which may impact future financial reporting[110] - The Group adopted HKFRS 16 using the modified retrospective method effective from April 1, 2019, with no restatement of comparative information for 2018[114] - The adoption of HKFRS 16 did not have any significant impact on the Group's unaudited interim condensed consolidated financial statements[117] Subsidiary Disposals - The Group disposed of subsidiaries during the period, impacting the net assets and financial position, details of which are summarized in the report[182] - The total cash consideration from the disposals of subsidiaries amounted to HK$133,539,000, with OS Group contributing HK$60,417,000, Milesville Group HK$39,002,000, and IS Group HK$34,120,000[186] - The financial impact of these disposals is expected to enhance the Group's liquidity and focus on core investment activities in Hong Kong's property market[187][188][189]

Financial Performance - Revenue for the year ended March 31, 2019, was HK$2,831.8 million, a significant increase from HK$1,351.8 million in 2018, representing a growth of 109.5%[14] - Profit attributable to owners of the parent decreased to HK$500.3 million in 2019 from HK$1,808.5 million in 2018, a decline of 72.3%[14] - Basic earnings per share dropped to HK3.29 cents in 2019 from HK11.90 cents in 2018, reflecting a decrease of 72.5%[14] - For the financial year ended 31 March 2019, the Group's revenue amounted to approximately HK$2,831.8 million, representing a significant increase of approximately HK$1,480.0 million compared to HK$1,351.8 million in 2018[85] - Profit attributable to owners of the parent for the year was approximately HK$500.3 million, a decrease from approximately HK$1,808.5 million in 2018, mainly due to reduced other income from the disposal of subsidiaries[85] Asset and Liability Management - Total assets increased to HK$11,070.3 million in 2019, up from HK$10,147.7 million in 2018, marking a growth of 9.1%[14] - Net assets rose to HK$4,489.5 million in 2019 compared to HK$4,183.9 million in 2018, an increase of 7.3%[14] - The gearing ratio increased to 44.2% in 2019 from 41.0% in 2018, indicating a rise in financial leverage[14] - Aggregate bank borrowings as of March 31, 2019, amounted to approximately HK$3,850.4 million, up from HK$3,224.0 million in 2018, resulting in a gearing ratio of approximately 44.2%, compared to 41.0% in 2018[118] - The Group's total assets less current liabilities were approximately HK$7,281.9 million, an increase from HK$6,746.7 million in 2018, with a current ratio of 1.85 times compared to 2.09 times in 2018[118] Property Development and Sales - The Group recorded annual contracted sales of approximately HK$3.6 billion, contributing positively to future development and profitability[35] - The Met. Blossom project achieved total sales of approximately HK$2.5 billion, with the Group holding a 60% equity interest[39] - The Met. Acappella project recorded contracted sales of approximately HK$2.3 billion, with all standard flats sold[39] - The "maya" project under the NOUVELLE series recorded contracted sales of approximately HK$1.6 billion, with the Group owning 50% equity interest[41] - The Group co-developed the "Altissimo" project, which has sold 336 units, with the Group holding a 40% equity interest[45] - The Group's property development segment reported revenue of approximately HK$2.83 billion for the year, a significant increase from HK$1.33 billion in 2018[90] Investment Strategy - The Group is focusing on market expansion and new product development strategies to enhance future growth prospects[14] - The Group maintains a balanced property portfolio to ensure stable and diversified revenue streams[33] - The Group's strategy includes expanding into both residential and commercial property projects to meet market demand[31] - The Group plans to launch a new residential development project in Tsing Yi with around 300 units, expected to be completed in 2021[65] - The Group is exploring urban redevelopment projects, securing ownership of two projects with a total site area of approximately 16,000 square feet and an expected gross floor area of approximately 143,000 square feet upon redevelopment[104] Corporate Governance and Management - Mr. Chan Chun Hong has been the non-executive chairman since December 23, 2015, and is responsible for overall strategies and corporate development[149] - The company has appointed independent non-executive directors with diverse expertise in finance, surveying, and property management, enhancing governance and oversight[150][154][157] - The company emphasizes the importance of audit and remuneration committees in maintaining transparency and accountability[150][154][157] - The Group's financial controller has over 22 years of experience in professional accounting, ensuring robust financial management[163] - The Group's management team includes professionals with extensive experience in property development, planning, and legal counsel, enhancing operational efficiency[160][161][165] Risk Management - The Group's risk management focuses on improving financial management and monitoring financial resources to ensure operational flexibility[118] - The Group is subject to restrictive covenants and risks associated with borrowings that may materially affect its business and financial condition[133] - The current risk management and internal control system does not fully cover sustainability issues related to operations[200] - The Group aims to implement risk management strategies including risk mitigation, avoidance, sharing, diversification, and transfer based on various risk-related impacts and probabilities[199] Environmental, Social, and Governance (ESG) Initiatives - The Group's Environmental, Social, and Governance (ESG) Report outlines policies and performance related to sustainable development, available on the HKEXnews and the company's website[172] - The Group aims to provide a better understanding of its sustainable development progress to stakeholders through its ESG initiatives[172] - The ESG Report covers the property development and investment businesses for the period from April 1, 2018, to March 31, 2019[173] - The Group plans to establish an environmental, social, and governance working group consisting of senior management members in the next financial year to improve governance[189] - The report is available in both Chinese and English and can be accessed on the Hong Kong Stock Exchange and the company's website[175]