Financial Performance - The total revenue for the year ended March 31, 2023, was HKD 246 million, an increase from HKD 220 million in the previous year, representing an increase of approximately 11.82%[2] - The gross profit for the year was HKD 82 million, compared to HKD 76 million in the previous year, reflecting a growth of 7.89%[2] - The net profit for the year was HKD 108 million, a significant recovery from a loss of HKD 412 million in the previous year[3] - The total comprehensive income for the year was HKD 72 million, compared to a loss of HKD 419 million in the previous year, indicating a turnaround in performance[3] - The basic earnings per share for the year was HKD 1.42, recovering from a loss of HKD 5.54 per share in the previous year[3] - The total segment profit before tax was HKD 114 million, with significant contributions from the lending and asset management segments[14] - The group reported a total of HKD 246 million in external revenue, with a segment performance of HKD 92 million after accounting for various expenses[15] - Other income, including rental income and interest from loans, increased to HKD 167 million, compared to HKD 152 million in 2022, reflecting a growth of 9.87%[20] - The company reported a decrease in rental income from construction machinery business, which fell from HKD 66 million in 2022 to HKD 56 million in 2023, a decline of approximately 15.2%[36] - The total interest expenses decreased to HKD 19 million from HKD 29 million in the previous year, indicating a reduction of 34.48%[26] Assets and Liabilities - The company's total assets increased to HKD 3,489 million from HKD 2,931 million, marking a growth of approximately 19.03%[5] - Non-current assets totaled HKD 1,758 million, up from HKD 1,517 million, representing an increase of about 15.87%[4] - Current liabilities rose to HKD 968 million from HKD 597 million, an increase of approximately 62.19%[6] - The company's equity increased to HKD 1,864 million from HKD 1,633 million, reflecting a growth of about 14.14%[8] - As of March 31, 2023, current assets were approximately HKD 1,731 million, an increase from HKD 1,414 million in 2022, while current liabilities rose to HKD 968 million from HKD 597 million[85] - The total bank borrowings increased from HKD 275 million in 2022 to HKD 297 million in 2023, representing a growth of about 8%[39] - The net debt decreased to HKD 867 million from HKD 979 million year-over-year, indicating a decline of about 11.4%[87] - The debt-to-equity ratio improved to 32% from 37% in the previous year, showing a positive trend in financial stability[87] Segment Performance - Total revenue from the construction machinery and spare parts rental and sales segment was HKD 225 million, while the repair and maintenance services segment generated HKD 8 million[15] - The lending business reported revenue of HKD 3 million, and the asset management and securities brokerage services contributed HKD 10 million to total revenue[15] - The financial services segment generated revenue of approximately HKD 10 million, a decrease from HKD 16 million in 2022, accounting for about 4% of total revenue compared to 7% in the previous year[52] - Total income from lending, asset management, securities brokerage, and other financial services was approximately HKD 13 million, a decrease of about HKD 20 million or 60% from HKD 33 million in 2022[71] Risk Management and Compliance - The company has implemented comprehensive policies and procedures for loan approval and monitoring to mitigate credit risk[56] - Credit risk assessment is conducted on a case-by-case basis, considering factors such as credit history, repayment ability, and collateral value[59] - The risk management department reviews each loan's risk level daily and reports to senior management, including the CEO and CFO, when necessary[60] - The company emphasizes compliance with applicable laws and regulations in its lending operations[57] - The company has maintained strict compliance with all relevant laws and regulations, including the Money Lenders Ordinance, with no objections or investigations reported during the year[62] Strategic Initiatives - The company acknowledges the growing global demand for natural resources and is actively seeking investment opportunities in China, Southeast Asia, and Africa[98] - The company plans to continue expanding its customer base and enhance its corporate financing advisory services, asset management services, and streamlined lending services[99] - The company is exploring land development projects in Cambodia, which is a key location for the Belt and Road Initiative, and is also identifying quality projects in Malaysia[100] Corporate Governance - The audit committee, consisting of four independent non-executive directors, is responsible for reviewing and supervising the group's financial reporting procedures and internal controls[104] - The auditor confirmed that the consolidated financial statements for the year are consistent with the audited figures[105] - The board expressed sincere gratitude for the efforts and contributions of management and all employees during the year[107]

Financial Performance - The Group recorded a profit of approximately HK$91 million for the Period, compared to a loss of approximately HK$78 million in the previous year[25]. - Total revenue for the Period was approximately HK$123 million, an increase from approximately HK$112 million in 2021[26]. - The profit for the period ended September 30, 2022, was HK$91 million, a significant improvement compared to a loss of HK$78 million in the same period last year[116]. - Basic earnings per share increased to 1.2 HK cents from a loss of 1.07 HK cents per share in the prior year[112]. - The company reported a profit before taxation of HK$93 million, a significant turnaround from a loss of HK$75 million in the previous year[112]. - The total comprehensive income for the period was HK$46 million, recovering from a loss of HK$92 million in the previous year[116]. - The company reported a total comprehensive loss of HK$45 million for the period, net of tax, compared to a loss of HK$14 million last year[116]. - The company incurred a total comprehensive loss for the period, with a reported loss of HK$22 million as of September 30, 2022[126]. Revenue Sources - Sales of construction machinery and spare parts generated approximately HK$25 million, while rental income from construction machinery was approximately HK$83 million, up from approximately HK$60 million in 2021[29]. - Revenue from asset management, securities brokerage, commodities, futures, and other financial services decreased by approximately HK$14 million, attributed to a reduction in loans receivables and a decrease in transaction value and volume[29]. - The total revenue from other sources, including asset management and financial services, was HK$90 million for the period[162]. - Interest income from money lending was HK$5 million, and margin financing generated an additional HK$2 million[162]. Operational Challenges - The construction industry in Hong Kong faced challenges due to COVID-19, but stable government infrastructure projects helped mitigate the impact[9]. - The overall business environment has been affected by high inflation rates and supply chain disruptions, impacting many enterprises globally[9]. - The Group maintained its operations despite the ongoing challenges posed by the COVID-19 pandemic and geopolitical tensions[9]. - The Group's focus remained on existing businesses while adapting to the changing market conditions[9]. - The interim report reflects the ongoing challenges and strategic responses of the Group in a volatile market environment[9]. Strategic Initiatives - The management emphasized the importance of reassessing and repositioning the business strategy in response to recent upheavals[9]. - The Group's strategy includes diversifying into financial services, property development, and construction machinery businesses[11]. - The Group aims to expand its client base in corporate financial advisory and asset management services while exploring share placement activities to enhance revenue streams[81]. - The Group recognizes the growing global demand for natural resources and is actively seeking investment opportunities in related projects in Southeast Asia and Africa[80]. Financial Position - As of September 30, 2022, the Group's current assets were approximately HK$1,486 million, while current liabilities were approximately HK$492 million[46]. - The Group's total borrowings decreased from approximately HK$1,070 million as of March 31, 2022 to approximately HK$912 million as of September 30, 2022[51]. - The gearing ratio improved from 37% as of March 31, 2022 to 28% as of September 30, 2022[51]. - The company reported a net cash inflow from operating activities of HK$94 million[127]. - The total cash and cash equivalents at the end of the period increased to HK$200 million, up from HK$176 million in the previous year[131]. Risk Management - The Group has established sufficient risk management procedures to control various types of risk within the organization[65]. - The Group continuously monitors foreign exchange risk and may enter into forward contracts on a case-by-case basis[63]. - The Group has adopted a credit policy for its money lending business, which includes compliance with applicable laws and regulations and credit assessments on potential borrowers[18]. Corporate Governance - The company has adopted the Model Code for Securities Transactions by Directors, ensuring compliance during the reporting period[89]. - The company emphasizes effective corporate governance as crucial for enhancing shareholder value and protecting stakeholder interests[87]. - The Audit Committee is required to meet at least twice a year to oversee the financial reporting process[90]. Investments and Acquisitions - On October 28, 2022, the Group agreed to acquire 6% of China Pearl Global Limited for HK$255 million, with HK$50 million paid in cash and HK$205 million via a consideration note[66]. - The major asset of China Pearl Global Limited is a project company engaged in property investment in Quanzhou, Fujian, People's Republic of China[66]. - The Group has property development projects in Cambodia and Malaysia, with a special economic zone project in Cambodia covering 17,252,519 square meters[21]. Employee and Shareholder Information - As of September 30, 2022, the Group had 124 employees, a slight decrease from 127 employees as of March 31, 2022, and offers attractive remuneration packages including bonuses[70]. - The Board does not recommend the payment of any interim dividend for the Period, consistent with the previous year[74].

Sales and Revenue Performance - The Group recorded an increase in sales of construction machinery and spare parts, as well as rental income from construction machinery during the year, with an occupancy rate of approximately 85% for rental machineries [9]. - Total revenue for the Year was approximately HK$220 million, maintaining a similar level compared to the previous year [39]. - Sales of construction machinery and spare parts amounted to approximately HK$49 million, an increase from approximately HK$41 million in 2021 [39]. - Rental income from construction machinery generated approximately HK$128 million, up from approximately HK$100 million in 2021, attributed to increased government projects [39]. - The increase in revenue for the financial services business was mainly due to a rise in the value and volume of transactions in securities brokerage [23]. - Revenue from the financial services business was approximately HK$16 million, representing about 7% of the total revenue of the Group, with a segment profit of approximately HK$10 million, a significant improvement from a loss of approximately HK$51 million in the previous year [22]. Financial Services and Investments - The Group's financial services business includes money lending, securities investment, and asset management, among others [19]. - The Group holds licenses for conducting regulated activities under the Securities and Futures Ordinance, including money lending and asset management [22]. - Revenue from money lending, asset management, securities brokerage, commodities, futures, and other financial services decreased by approximately HK$38 million, or 54%, mainly due to a reduction in loans receivables [41]. - The fair value loss on financial assets at fair value through profit or loss (FVTPL) amounted to approximately HK$397 million for the year, with HK$148 million and HK$262 million related to investments in Riverwood and Tisé Opportunities SPC, respectively [47]. - The Group's investment strategy includes a focus on listed equities in the Greater China Region, as well as potential investments in ETFs and U.S. Treasury securities [47]. Economic Environment and Challenges - The macroeconomic environment remained challenging due to the ongoing COVID-19 pandemic, leading to economic recession and the highest unemployment rate in Hong Kong in the last two decades [9]. - The Group implemented precautionary measures to manage the impact of COVID-19, including remote work arrangements and daily COVID-19 testing for employees [16]. - The Group adopted a sound financial policy to navigate the complicated external environment and actively explored new development opportunities [9]. Losses and Financial Performance - The Group recorded a loss of approximately HK$412 million for the Year, compared to a profit of approximately HK$100 million in 2021 [38]. - Other net losses amounted to approximately HK$385 million, a significant increase from HK$20 million in the previous year, mainly driven by a fair value loss of approximately HK$397 million [53]. - The share of results of associates showed a loss of approximately HK$17 million, compared to a gain of approximately HK$169 million in the previous year [60]. Corporate Governance and Management - The Company has a diverse board with members holding significant experience in various sectors, enhancing its governance and strategic direction [122]. - The Board consists of three executive Directors, two non-executive Directors, and four independent non-executive Directors [138]. - The Company has adopted the Model Code for Securities Transactions by Directors, confirming compliance by all Directors during the Year [131]. - The Group is committed to continuously improving its corporate governance practices through periodic reviews to meet CG Code requirements [130]. - The Board focuses on formulating overall strategies, approving annual development plans, and monitoring financial performance [135]. Strategic Initiatives and Future Plans - The Group is committed to streamlining existing businesses and exploring new business opportunities to create returns for shareholders [12]. - The Group aims to expand its client base in money lending and financial services, enhancing corporate financial advisory and asset management services [100]. - The Group is exploring business opportunities in Cambodia, leveraging its strategic location along the "One Belt, One Road" initiative [104]. - The Group plans to implement stringent cost control measures to maintain profitability during economic downturns [98]. Employee and Talent Management - The Group had 127 employees as of March 31, 2022, an increase from 120 employees in the previous year [92]. - The Group has adopted a share award scheme to attract and retain talent among its employees [92]. - All directors have participated in continuous professional development to enhance their knowledge and skills, with training provided throughout the year [162].