Financial Performance - Revenue for the six months ended September 30, 2022, was HKD 73,560,000, a decrease of 1.0% compared to HKD 74,309,000 for the same period in 2021[6] - Gross profit margin decreased to 35.4% in 2022 from 38.5% in 2021, reflecting an increase in cost of sales to HKD 47,271,000 from HKD 45,773,000[6] - Net profit for the period was HKD 2,035,000, down 27.2% from HKD 2,794,000 in the previous year[6] - Basic and diluted earnings per share were both HKD 0.23, compared to HKD 0.30 for the same period in 2021[7] - Total comprehensive income for the period was HKD 353,000, significantly lower than HKD 2,742,000 in the prior year, primarily due to foreign exchange losses[6] - The company’s total comprehensive income for the period was HKD 2,453 thousand, down from HKD 3,822 thousand in the same period of 2021[21] - Profit for the period decreased from approximately HKD 2,794,000 for the six months ended September 30, 2021, to approximately HKD 2,035,000 for the same period in 2022, primarily due to a decrease in revenue and operating profit[72] Assets and Liabilities - Non-current assets as of September 30, 2022, totaled HKD 103,034,000, an increase from HKD 96,663,000 as of March 31, 2022[9] - Current assets decreased to HKD 133,306,000 from HKD 147,133,000, with cash and cash equivalents dropping to HKD 53,121,000 from HKD 71,034,000[9] - The company reported a decrease in total equity to HKD 171,186,000 from HKD 175,088,000, reflecting the impact of comprehensive income losses[9] - Total assets as of September 30, 2022, amounted to HKD 236,340,000, a decrease from HKD 243,796,000 as of March 31, 2022[22] - The total liabilities as of September 30, 2022, were HKD 65,154,000, a decrease from HKD 68,708,000 as of March 31, 2022[22] - The company’s cash and cash equivalents decreased to HKD 53,121 thousand from HKD 79,704 thousand, reflecting a decline of approximately 33%[12] Revenue Breakdown - Revenue from video conferencing and multimedia solutions decreased to HKD 56,420 thousand from HKD 61,645 thousand, representing a decline of approximately 8%[17] - Revenue from external customers for the six months ended September 30, 2022, was HKD 73,560,000, compared to HKD 74,309,000 for the same period in 2021, representing a decline of 1%[24] - Revenue from video conferencing and multimedia audio-visual solutions decreased by approximately HKD 5,225,000 or 8.5% to HKD 56,420,000 for the six months ended September 30, 2022, primarily due to conservative client upgrades of office facilities amid the COVID-19 pandemic[65] - Revenue from video conferencing and multimedia audio-visual maintenance services decreased by approximately HKD 600,000 or 5.5% to HKD 10,268,000 for the six months ended September 30, 2022, mainly due to a reduction in the total number of maintenance projects after the completion of related service projects[65] - Revenue from smart IoT operations and other services increased by approximately HKD 5,072,000 or 986.8% to about HKD 5,586,000 for the six months ended September 30, 2022, compared to approximately HKD 514,000 for the same period in 2021[66] Cash Flow and Financing - For the six months ended September 30, 2022, the company reported a net cash outflow from operating activities of HKD (2,126) thousand, an improvement from HKD (9,318) thousand in the same period of 2021[12] - The net cash outflow from financing activities was HKD (6,058) thousand, a significant decrease from HKD 20,404 thousand in the same period of 2021[12] - The company’s net cash used in investing activities was HKD (8,745) thousand, compared to HKD (19) thousand in the prior year[12] - The company’s cash outflow for leases totaled approximately HKD 291,000 for the six months ended September 30, 2022[42] Corporate Governance and Management - The company maintains a high level of corporate governance to protect shareholder interests and enhance corporate value[109] - The audit committee has reviewed the unaudited consolidated performance for the period and confirmed compliance with applicable accounting standards and regulations[111] - The company has adopted a share option plan to reward selected participants for their contributions to the group[93] Employee and Management Compensation - The total remuneration for key management personnel for the six months ended September 30, 2022, was HKD 4,257,000, a decrease from HKD 4,800,000 in the same period of 2021[58] - Employee costs decreased by approximately HKD 448,000 or 2.5% to about HKD 17,748,000 for the six months ended September 30, 2022, primarily due to a reduction in employee commissions resulting from decreased revenue[69] Future Outlook - The company plans to focus on expanding its market presence and enhancing product offerings in the upcoming quarters[6] - The group expects cloud IT+OT management services to become a major revenue driver in the coming years, expanding its customer base to multinational and local enterprises in China[73]

Financial Performance - The group's revenue increased by 17.9% to approximately HKD 171,448,000 for the fiscal year, compared to HKD 145,380,000 in 2021[8] - Revenue increased by approximately 17.9% from HKD 145,380,000 for the year ended March 31, 2021, to HKD 171,448,000 for the year ended March 31, 2022[24] - Annual profit decreased to about HKD 6,685,000 for the year ended March 31, 2022, down from HKD 12,724,000 in 2021, mainly due to the absence of non-recurring government subsidies and increased legal fees[32] - Operating profit rose by approximately 7.1% to about HKD 60,864,000 for the year ended March 31, 2022, with the operating profit margin slightly declining to about 35.5% from 39.1% in 2021[26] - Employee costs increased by approximately 11.3% to about HKD 39,201,000 for the year ended March 31, 2022, primarily due to the growth in the cloud IT+OT management services business[27] - Other operating expenses rose approximately 42.7% to about HKD 9,880,000 for the year ended March 31, 2022, attributed to the expansion of cloud IT+OT management services and increased legal and professional fees[28] Cloud IT+OT Management Services - The cloud IT+OT management services revenue surged approximately 7.5 times from about HKD 3,520,000 to approximately HKD 26,341,000[10] - The average revenue per employee in the cloud IT+OT management services segment rose to approximately HKD 2,927,000, up from HKD 704,000 in 2021[10] - The group achieved a pre-tax profit of approximately HKD 495,000 within 18 months of operation in the cloud IT+OT management services[10] - Research and development expenses for the cloud IT+OT management services amounted to approximately HKD 2,595,000, representing 9.9% of the segment's revenue, compared to 3.3% in 2021[10] - The cloud IT+OT management services business achieved significant revenue growth and recorded its first profit, becoming a major revenue source for the company[22] - The group expects continued growth in cloud IT+OT management services, which will remain a major revenue source, driven by rising demand for data security and integrated smart internet data center services[35] Market and Business Expansion - The company is focused on expanding its IoT cloud services and cybersecurity operations, targeting major multinational and local enterprises in China[9] - The company plans to expand its cloud IT+OT management services in China, leveraging its partnership with Micro Focus and increased R&D resources[22] - The company aims to explore opportunities in video conferencing and multimedia audio-visual solutions and cloud IT+OT management services to create greater value for shareholders[16] - The company is expanding its market presence, targeting D new regions for growth in the upcoming year[72] Governance and Management - The board consists of nine directors, including five executive directors and three independent non-executive directors, ensuring compliance with corporate governance standards[88] - The company has adopted a code of conduct for securities trading by directors, with no known breaches reported for the fiscal year ending March 31, 2022[87] - The board is responsible for reviewing and approving major financial and business strategies, including acquisitions and financial restructuring[89] - The company has complied with the corporate governance code throughout the fiscal year ending March 31, 2022[86] - The company provides indemnity insurance for directors and senior officers against liabilities incurred in their roles[91] Environmental, Social, and Governance (ESG) Initiatives - The group aims to reduce greenhouse gas emissions density and supports Hong Kong's goal of achieving carbon neutrality by 2050[158] - The group has implemented energy-saving practices, such as maximizing natural light and using energy-efficient lighting[167] - The group is committed to minimizing waste generation and ensuring safe disposal of hazardous waste[164] - The group has established environmental goals and will regularly review progress towards achieving these goals as part of its ESG governance[147] - The most important ESG issues identified include preventing child and forced labor, customer service management, and customer privacy protection[156] Employee and Workplace Safety - The company has not reported any work-related injury days or fatalities in the past three years, indicating a strong focus on occupational safety and health[177] - The company implemented emergency work arrangements during the COVID-19 pandemic, including home office setups and health safety measures such as temperature checks and distribution of masks[178] - The overall compensation level is determined based on employee performance, qualifications, and market standards, with annual salary reviews and potential special year-end bonuses[171] Customer Relations and Satisfaction - The company has developed a customer-driven service model to enhance customer satisfaction[186] - The company provides free training sessions for customers on equipment operation, depending on their needs[188] - The company has not received any major customer complaints during the year[189]

Financial Performance - Revenue for the six months ended September 30, 2021, was HKD 74,309,000, a decrease of 1.28% from HKD 75,270,000 in the same period of 2020[7] - The profit before tax decreased significantly to HKD 3,822,000, down 64.2% from HKD 10,662,000 in the previous year[7] - Net profit for the period was HKD 2,794,000, a decline of 70.6% compared to HKD 9,495,000 in the same period of 2020[7] - Basic and diluted earnings per share were both HKD 0.28, down from HKD 0.95 in the previous year[8] - The company reported a segment profit of HKD 11,141,000 for the video conferencing and multimedia audio-visual solutions and maintenance services segment, down from HKD 14,519,000 in the previous year[22] - Operating profit decreased by approximately HKD 6,4% from HKD 30,503,000 to HKD 28,536,000, consistent with the decrease in revenue[74] - Profit for the period decreased from HKD 9,495,000 to HKD 2,794,000, mainly due to reduced revenue and operating profit, increased employee costs, and additional professional fees[78] Revenue Breakdown - Revenue from video conferencing and multimedia audio-visual solutions services was HKD 61,645,000, while maintenance services generated HKD 10,868,000, and cloud IT+OT management services contributed HKD 1,796,000[18] - Revenue recognized at a point in time was HKD 63,441,000, down from HKD 65,734,000 in the previous year, while revenue recognized over time increased to HKD 10,868,000 from HKD 9,536,000[19] - Revenue from external customers in Hong Kong was HKD 71,687,000, while revenue from China (excluding Hong Kong and Macau) was HKD 2,257,000, and from Macau was HKD 365,000[26] - Revenue from video conferencing and multimedia audio-visual maintenance services increased by approximately HKD 1,332,000 or 14.0%, from HKD 9,536,000 to HKD 10,868,000[71] - The company expanded its business into China through its subsidiary, contributing approximately HKD 1,796,000 in revenue during the reporting period[69] Assets and Liabilities - Total assets as of September 30, 2021, were HKD 171,541,000, an increase from HKD 146,123,000 as of March 31, 2021[10] - The company had total liabilities of HKD 55,332,000 as of September 30, 2021, down from HKD 62,753,000 as of March 31, 2021[24] - Trade receivables and contract assets totaled approximately HKD 39,746,000 as of September 30, 2021, an increase from HKD 35,915,000 as of March 31, 2021[38] - The aging analysis of trade payables showed a total of HKD 17,413,000 as of September 30, 2021, compared to HKD 16,427,000 as of March 31, 2021[39] - As of September 30, 2021, the group's net current assets were approximately HKD 86,967,000, an increase from HKD 60,076,000 as of March 31, 2021[80] Cash Flow and Financing - Cash and cash equivalents at the end of the period increased to HKD 79,704,000 from HKD 56,332,000 year-on-year[13] - The net cash used in operating activities was HKD (9,318,000), compared to HKD (2,985,000) in the same period last year[13] - The company issued new shares raising HKD 28,500,000 during the financing activities[13] - The company raised approximately HKD 28,500,000 from the placement of 50,000,000 new shares at a price of HKD 0.57 per share on August 19, 2021[86] - The net proceeds from the placement, after deducting commissions and related costs, were approximately HKD 27,530,000[87] Expenses and Costs - Employee costs increased by approximately HKD 1,391,000 or 8.3%, from HKD 16,805,000 to HKD 18,196,000, mainly due to an increase in staff for cloud IT+OT management services[75] - Other operating expenses increased by 41.0% from HKD 3,424,000 to HKD 4,828,000, primarily due to professional fees and placement commissions related to equity-settled transactions[76] - The total income tax expense for the six months ended September 30, 2021, was HKD 1,028,000, a decrease of 11.9% from HKD 1,167,000 in the same period of 2020[28] Corporate Governance and Compliance - The company maintains a high level of corporate governance to protect shareholder interests and enhance corporate value[113] - The audit committee reviewed the group's unaudited consolidated performance and confirmed compliance with applicable accounting standards and regulations[115] - The company has adopted a code of conduct for directors' securities transactions that is not less stringent than the standard code[103] Shareholder Information - The company did not declare any interim dividend for the six months ended September 30, 2021, compared to zero in 2020[31] - The company granted stock options to a senior management member for a total of 3,000,000 shares at an exercise price of HKD 0.54 per share[49] - The company reported a dividend yield of 3.03% and an expected volatility of 70%[51] - As of September 30, 2021, Mr. Zhong Nai Hung holds 600,000,000 shares, representing 57.12% of the issued shares[105] - Dr. Huang Jing Qiang holds 150,000,000 shares, accounting for 14.28% of the issued shares[105]

Financial Performance - The company's revenue decreased by 8.3% to approximately HKD 145,380,000 in 2021, down from HKD 158,504,000 in 2020[9]. - Profit increased by 385.5% to approximately HKD 12,724,000 in 2021, compared to HKD 2,621,000 in 2020, primarily due to the absence of non-recurring expenses related to the transfer of shares to the main board and government subsidies[9]. - The operating profit decreased by approximately 16.0% from HKD 67.6 million to HKD 56.8 million, consistent with the decline in annual revenue[28]. - The operating profit margin slightly decreased to approximately 39.1% in the year ended March 31, 2021, compared to 42.7% in 2020[29]. - Revenue from video conferencing and multimedia audio-visual solutions decreased by approximately 12.8% from HKD 141.2 million to HKD 123.1 million due to smaller project scales and the impact of COVID-19[26]. - Revenue from video conferencing and multimedia audio-visual maintenance services increased by approximately 8.3% from HKD 17.3 million to HKD 18.8 million, attributed to an increase in maintenance projects after the completion of related services[26]. - The cloud IT+OT management services generated revenue of approximately HKD 3.5 million since its operation began in Q1 2021[27]. - Employee costs decreased by approximately 0.7% from HKD 35,448,000 for the year ended March 31, 2020, to HKD 35,207,000 for the year ended March 31, 2021[30]. - Other operating expenses increased by approximately 3.2% from HKD 6,706,000 for the year ended March 31, 2020, to HKD 6,922,000 for the year ended March 31, 2021[31]. - Financing costs decreased by approximately 49.3% from HKD 1,149,000 for the year ended March 31, 2020, to HKD 582,000 for the year ended March 31, 2021[32]. - Income tax expenses decreased from HKD 3,536,000 for the year ended March 31, 2020, to HKD 1,943,000 for the year ended March 31, 2021[33]. - Annual profit increased from HKD 2,621,000 for the year ended March 31, 2020, to HKD 12,724,000 for the year ended March 31, 2021[34]. Business Expansion and Strategy - The company expanded its business into the Internet of Things (IoT) sector, establishing a joint venture in China with an 85% stake focused on IoT cloud services and digital transformation consulting[12]. - The company acquired a 4% stake in Changzhou Guoyun Green Data Technology Co., which is developing an Internet data center expected to be operational by the end of 2021[12]. - The company established a joint venture, Beijing Nengxing Guoyun, holding 85% equity, focusing on comprehensive IoT cloud services, which began generating revenue in Q1 2021[21]. - The company acquired a 4% stake in Changzhou Guoyun, which is developing a smart and sustainable internet data center expected to commence operations by the end of 2021[22]. - The group plans to enhance its position as a leading provider of video conferencing and multimedia solutions in Hong Kong and increase market share in China[36]. - The group expects cloud IT+OT management services to become a major revenue source starting in 2022 due to increased demand for data security and integrated IT services[37]. - The group aims to develop a comprehensive IoT and internet data center business in China, leveraging its strong management team and existing relationships[38]. Market Trends and Demand - The economic environment in Hong Kong showed signs of recovery with a GDP growth of 7.9% year-on-year in Q1 2021, following a significant contraction in 2020[8]. - The company noted a significant increase in demand for cloud services from educational institutions due to the shift to online education, indicating potential for future revenue growth in this area[10]. - The global public cloud services market grew by 24.1% year-on-year to USD 312.42 billion in 2020, with China's market growing by 49.7% to USD 19.38 billion[19]. - The Chinese internet data center market reached a valuation of RMB 223.87 billion in 2020, growing by 43.3% year-on-year, with a projected CAGR of 10% from 2021 to 2026[20]. Corporate Governance - The board consists of ten directors, including five executive directors and four independent non-executive directors, ensuring a diverse governance structure[88]. - The company has adopted a code of conduct for securities trading that is not less stringent than the standards set out in the listing rules, with no known breaches reported for the fiscal year[87]. - All directors participated in continuous professional development activities to enhance their knowledge and skills, ensuring informed contributions to the board[96]. - The company has complied with the corporate governance code throughout the fiscal year, with no significant deviations reported[85]. - The board's main functions include reviewing and approving financial strategies, assessing risks, and overseeing major acquisitions or disposals[89]. - The chairman and CEO roles are separated, with the chairman responsible for business development and strategy formulation[101]. - The company has established a two-year appointment term for non-executive directors, which can be renewed upon expiration[100]. - Independent non-executive directors have confirmed their independence, meeting the requirements of the listing rules[98]. - The board is responsible for overall corporate governance, ensuring that the interests of shareholders, customers, and employees are balanced[89]. - The Audit Committee held two meetings during the fiscal year ending March 31, 2021, reviewing both the unaudited interim results and the audited annual results[106]. - The Remuneration Committee also conducted two meetings in the fiscal year ending March 31, 2021, reviewing the remuneration of all directors and senior management[108]. - The company’s remuneration policy rewards employees and executives based on performance, qualifications, and market levels[109]. - The Nomination Committee held two meetings in the fiscal year ending March 31, 2021, to discuss the suitability of candidates for board vacancies[115]. - The company emphasizes board diversity as a competitive advantage, considering various factors such as skills, experience, and gender in its nomination process[119]. - The Nomination Committee will annually discuss measurable goals for achieving board diversity and recommend these to the board[121]. - The Audit Committee is responsible for establishing and maintaining risk management and internal control systems[103]. - The Remuneration Committee aims to ensure that the remuneration of senior executives is appropriate and aligned with the company's financial and operational performance[107]. - The company’s remuneration includes salary, commission, retirement benefits contributions, and discretionary bonuses based on profitability[110]. - The Nomination Committee will review and assess the effectiveness of the nomination policy annually, suggesting any necessary amendments to the board[123]. - The company reported an audit fee of HKD 725,000 for audit services and HKD 148,000 for non-audit services, totaling HKD 873,000 for the fiscal year ending March 31, 2021[126]. - The company has established a risk management and internal control system in compliance with corporate governance code C.2, with no significant risks identified during the risk assessment for the fiscal year[125]. - The internal control system aligns with the COSO 2013 framework, ensuring operational effectiveness, reliability of financial reporting, and compliance with applicable laws and regulations[129]. - The board of directors is responsible for the effectiveness of the risk management and internal control systems, which are reviewed annually, and the systems are deemed effective and sufficient[138]. - The company has a dividend policy that requires board discretion, considering factors such as financial performance, shareholder equity, and capital requirements[139]. - The company encourages shareholder engagement through various communication channels, including interim and annual reports, and ensures transparency in financial disclosures[141]. - The internal audit function operates independently from daily operations and assesses the risk management and internal control systems through interviews and performance testing[137]. - The company has implemented measures to prevent insider trading and ensure the accuracy and timeliness of disclosures related to insider information[134]. - The board continues to review and update the dividend policy in accordance with the Cayman Islands Companies Law[140]. - The company has not identified any significant internal control deficiencies during the internal control review conducted for the fiscal year[133]. Environmental, Social, and Governance (ESG) Initiatives - The company reported a significant focus on environmental, social, and governance (ESG) initiatives, emphasizing the importance of sustainable development and stakeholder engagement[147]. - The ESG report highlighted key performance indicators related to the company's core business in providing video conferencing and multimedia solutions in Hong Kong[148]. - The company conducted a stakeholder engagement process, collecting feedback through 115 valid questionnaires to identify significant ESG issues[154]. - The board is responsible for overseeing ESG governance and risk management, ensuring the implementation of appropriate measures[150]. - The company aims to enhance communication with stakeholders, including regular updates and meetings with regulatory bodies and shareholders[152]. - The company has committed to energy-saving and emission reduction efforts as part of its environmental responsibilities[152]. - The company has identified 10 key ESG issues and disclosed relevant information in corresponding sections of the report[158]. - The company strictly adheres to environmental regulations, including the Air Pollution Control Ordinance, and does not engage in manufacturing processes that produce water pollutants[160]. - Measures taken to reduce vehicle emissions include proper fleet management, regular inspections, and ensuring engines are turned off when vehicles are parked[161]. - The company encourages employees to use public transportation and promotes teleconferencing to reduce unnecessary travel[162]. - The company has implemented waste management practices in compliance with relevant laws, ensuring that both hazardous and non-hazardous waste are collected and processed by qualified units[163]. - The company aims to minimize energy and water consumption, with energy primarily sourced from purchased electricity and minimal water usage[164]. - The company promotes green operations by utilizing office automation systems to reduce paper usage and encouraging recycling and reusing materials[168]. - The company has established guidelines in the employee handbook for work arrangements during extreme weather events, reflecting its commitment to employee safety[169]. - The company adheres to local employment laws and promotes a diverse workforce to enhance creativity and competitiveness[170]. - The company strictly adheres to employee welfare laws, providing retirement benefits and mandatory provident fund plans, ensuring all employees are entitled to paid statutory holidays and various types of leave[172]. - The company has implemented a comprehensive training program for employees, including internal courses and external seminars, to enhance their skills and knowledge[173]. - The company has maintained a safe working environment, with no reported work-related injuries or fatalities in the past three years[176]. - The company has adopted flexible working arrangements and installed air purification systems to mitigate the risk of COVID-19 transmission among employees[177]. - The company emphasizes quality control, with strict monitoring of operational procedures and a standardized inventory management system to ensure compliance with quality standards[180]. - The company has not had any product recalls due to safety or health reasons during the year[181]. - The company has developed a customer-centric service model to ensure timely and professional service delivery, including feasibility assessments and ongoing maintenance[182]. - The company evaluates potential suppliers based on product quality, reputation, pricing, and delivery capabilities to maintain high service standards[178]. - The company incorporates environmental considerations into its procurement processes, prioritizing products with minimal environmental impact[179]. - The company distributed user manuals detailing equipment functions and operations to clients after installation[183]. - The company provided one to three free training sessions on equipment operation based on client needs[183]. - The total greenhouse gas emissions decreased from 91 tons CO2 equivalent in 2020 to 70 tons CO2 equivalent in 2021, a reduction of approximately 23.1%[191]. - The greenhouse gas emissions density per employee improved from 1.36 tons CO2 equivalent in 2020 to 0.95 tons CO2 equivalent in 2021, a decrease of about 30.1%[191]. - The total harmless waste generated increased from 1,635 kg in 2020 to 1,875 kg in 2021, an increase of approximately 14.7%[191]. - The total energy consumption rose from 171 MWh in 2020 to 187 MWh in 2021, an increase of about 9.4%[191]. - The company recorded no violations of advertising and labeling laws during the year[186]. - The company maintained a zero-tolerance policy towards corruption and bribery, with no recorded cases during the year[189]. - The company established a computerized information management system for project management and resource allocation[183]. - The company actively encourages employee participation in community service and volunteer activities[190]. Future Outlook - Future outlook indicates a projected revenue growth of 25% for the next fiscal year, driven by new product launches and market expansion strategies[81]. - The company is investing in research and development for new technologies, with a budget allocation of $10 million for the upcoming year[81]. - Market expansion plans include entering two new international markets by Q3 2022, aiming for a 30% increase in market share[81]. - The company is exploring potential acquisitions to enhance its product offerings, with a focus on companies in the tech sector[81]. - A new product line is set to launch in Q2 2022, expected to contribute an additional $5 million in revenue[81]. - The company has established strategic partnerships with key industry players to enhance its competitive edge[81].

Financial Performance - Revenue for the six months ended September 30, 2020, was HKD 75,270,000, a decrease of 12% compared to HKD 85,586,000 for the same period in 2019[6] - Net profit for the period was HKD 9,495,000, significantly up from HKD 1,130,000 in the same period last year, representing an increase of 740%[6] - Basic and diluted earnings per share increased to HKD 0.95 compared to HKD 0.11 for the same period in 2019[6] - Revenue from video conferencing and multimedia solutions services was HKD 65,734,000, down from HKD 76,852,000 in the previous year, representing a decline of 14.5%[16] - Operating profit decreased by approximately HKD 6,544,000 or 17.7%, from HKD 37,047,000 to HKD 30,503,000, consistent with the revenue decline[54] - The operating profit margin slightly decreased from 43.3% to 40.5%[54] Assets and Liabilities - Total assets as of September 30, 2020, were HKD 142,413,000, slightly up from HKD 142,083,000 as of March 31, 2020[7] - Non-current assets as of September 30, 2020, totaled HKD 86,297,000, slightly down from HKD 88,000,000 as of March 31, 2020[25] - Trade receivables and contract assets totaled approximately HKD 41,786,000 as of September 30, 2020, an increase from HKD 37,681,000 as of March 31, 2020, representing a growth of about 5.9%[35] - Bank borrowings amounted to approximately HKD 28,627,000 as of September 30, 2020, down from HKD 30,838,000 as of March 31, 2020, a decrease of about 7.1%[39] - The carrying amount of lease liabilities was approximately HKD 32,000,000 as of September 30, 2020, down from HKD 97,000,000 as of March 31, 2020[37] Cash Flow and Dividends - Cash and cash equivalents at the end of the period were HKD 56,332,000, down from HKD 59,340,000 at the end of the previous period[10] - The company reported a decrease in operating cash flow, with a net cash outflow of HKD 2,985,000 compared to HKD 2,367,000 in the previous year[10] - The company paid dividends of HKD 9,000,000 during the period, down from HKD 12,000,000 in the same period last year[10] - The company did not declare any interim dividend for the six months ended September 30, 2020, consistent with the previous year[30] Government Grants and Income Tax - Government grants received amounted to HKD 2,312,000, with no such grants reported in the same period of 2019[20][21] - The total income tax expense for the six months was HKD 1,167,000, down from HKD 2,348,000 in the previous year, indicating a reduction of 50.3%[27] Shareholder Information - As of September 30, 2020, Mr. Zhong Nai Hung held a 60% stake in the company through Phoenix Time Holdings Limited[82] - Major shareholders include Phoenix Time Holdings Limited and Ms. Chen Min Ling, both holding 60% of the shares[84] - The company has a stock option plan approved by shareholders, but no options were granted, exercised, canceled, or expired during the reporting period[78] Corporate Governance - The company maintains a high level of corporate governance to protect shareholder interests and enhance corporate value[88] - The audit committee, composed of three independent non-executive directors, has reviewed the group's unaudited consolidated performance and ensured compliance with applicable accounting standards and regulations[90] - The company has maintained the required public float as per the listing rules[91] Future Outlook - The company plans to continue focusing on multimedia audio-visual solutions and related system integration services for future growth[12] - The company is seeking opportunities to expand its market share in the video conferencing and multimedia audio-visual solutions industry in China, particularly in the Guangdong-Hong Kong-Macao Greater Bay Area[59] - The company will continuously evaluate its business objectives and may modify plans based on market conditions to ensure sustainable growth[75] Employment and Operations - As of September 30, 2020, the company employed 66 full-time staff, a decrease from 70 as of March 31, 2020[72] - The company operates primarily in Hong Kong, China, and Singapore, with major clients located in Hong Kong, China, and Macau[24] Miscellaneous - There were no significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the period[68] - There were no significant matters requiring disclosure that occurred after the reporting period up to the date of this report[92]

Financial Performance - The company's revenue for the fiscal year ended March 31, 2020, was approximately HKD 158.5 million, a decrease of about 14.6% compared to HKD 185.7 million in 2019[6] - Profit for the same period was approximately HKD 2.6 million, down approximately 88.9% from HKD 23.5 million in 2019, primarily due to reduced revenue and operating margins[6] - Adjusted profit, excluding listing expenses related to the transfer to the main board, was approximately HKD 17.6 million, a decrease of about 25.1% year-on-year[6] - Total revenue decreased by approximately 14.7% from HKD 185,714,000 for the year ended March 31, 2019, to HKD 158,504,000 for the year ended March 31, 2020[12] - Revenue from video conferencing and multimedia solutions decreased by approximately 16.8% from HKD 169,649,000 to HKD 141,172,000, primarily due to the impact of COVID-19[13] - Operating profit decreased by approximately 7.7% from HKD 73,315,000 to HKD 67,648,000, consistent with the decline in revenue[14] - Annual profit decreased from approximately HKD 23,503,000 to HKD 2,621,000, with adjusted profit of HKD 17,578,000, a decrease of approximately 25.2%[23] - Proposed final dividend of HKD 0.009 per share, totaling HKD 9,000,000, down from HKD 0.012 per share and HKD 12,000,000 in 2019[24] Market and Business Strategy - The company aims to expand its market share in the audiovisual solutions industry in China through increased sales and marketing efforts[11] - The anticipated growth in smart office applications in Hong Kong is expected to create new business opportunities for audiovisual solutions[7] - The company continues to focus on the growing demand for audiovisual solutions, leveraging its experienced management team's technical expertise[9] - The company expresses optimism about maintaining strong growth momentum and creating greater value for shareholders[9] COVID-19 Impact - The impact of COVID-19 on operations and financial performance was noted as a short-term effect, with a focus on recovery and growth moving forward[6] - The group faces significant risks, including reliance on non-recurring revenue and large projects, which could adversely affect financial performance[46] - The outbreak of COVID-19 or other natural disasters may severely impact economic activities in Hong Kong and China, affecting the group's business[47] - The group has implemented flexible working hours and health safety measures, including temperature checks and mask distribution, in response to the COVID-19 pandemic[166] Corporate Governance - The company has a board of ten directors, including five executive directors and four independent non-executive directors[78] - The company has adhered to the corporate governance code during the fiscal year ending March 31, 2020[76] - The board's main functions include reviewing and approving financial strategies, assessing risks, and selecting key management personnel[79] - The company has implemented a corporate governance framework to balance the interests of shareholders, clients, and employees[75] - The company has established a liability insurance policy for directors and senior officers to cover responsibilities incurred while performing their duties[82] - The company has a strong focus on risk management and has implemented appropriate measures to manage identified risks[79] - The company has established multiple communication channels with shareholders and investors to ensure high levels of disclosure and financial transparency[130] Environmental, Social, and Governance (ESG) Initiatives - The ESG report details the company's commitment to sustainable development and corporate social responsibility from April 1, 2019, to March 31, 2020[135] - The ESG report focuses on the company's core business of providing multimedia solutions in Hong Kong and evaluates its environmental and social performance[136] - The board is responsible for overseeing ESG governance and risk management to ensure sustainable development[138] - The company identified 10 significant ESG issues through a stakeholder survey, which included 66 valid responses[143] - The company has implemented measures to reduce greenhouse gas emissions, including encouraging public transport use and promoting low-carbon menus[152] - The company strictly adheres to environmental regulations, including the Air Pollution Control Ordinance, and does not engage in manufacturing processes that produce water pollutants[149] - The company has established a framework for regular reporting on ESG-related goals and progress[141] Employee and Workforce Management - The company employed 70 full-time employees as of March 31, 2020, down from 73 in 2019[40] - Employee training programs are established annually, with internal courses and encouragement for external participation, enhancing workforce knowledge and skills[162] - The group adheres to employment laws and provides competitive compensation packages, including salary reviews and potential year-end bonuses based on performance[160] - The group emphasizes a diverse workforce to enhance creativity and competitiveness, ensuring equal opportunities in recruitment and promotion[159] Shareholder and Stakeholder Relations - The company is committed to maintaining long-term relationships with key stakeholders, including employees, customers, suppliers, and shareholders[183] - The company has established a share option scheme to reward selected participants for their contributions to the group[192] - The maximum number of shares that can be issued upon the exercise of options under the share option scheme shall not exceed 10% of the issued shares as of the listing date (May 27, 2015)[194] - The company plans to hold its annual general meeting on August 7, 2020[186]