Company Overview - The interim report covers the six-month period ending September 30, 2024[1]. - The company is incorporated in the Cayman Islands and listed on the Hong Kong Stock Exchange since September 29, 2020[7]. - The board of directors includes Mr. Leung Yam Cheung as Chairman and CEO, along with two other executive directors and several independent non-executive directors[2]. - The report adheres to the listing rules of the Hong Kong Stock Exchange, ensuring compliance with regulatory standards[7]. - The Company has appointed Mr. Leung Yam Cheung as CEO following the resignation of Mr. Leung Wing Hoi on September 22, 2023[55]. - The Company emphasizes sound corporate governance principles, including effective internal control and transparency to stakeholders[55]. - The Company has adopted the principles and code provisions of the Corporate Governance Code as set out in the Listing Rules[55]. Financial Performance - Revenue for the period was approximately HK$201.3 million, a decrease of about 28.1% compared to approximately HK$280.0 million for the six months ended September 30, 2023[29]. - The Group's gross profit margin declined significantly from approximately 5.0% in the prior period to about 0.7%, with gross profit decreasing from approximately HK$13.9 million to HK$1.4 million[19]. - The net loss increased from HK$4.2 million for the corresponding period in 2023 to HK$24.2 million for the current period[19]. - For the six months ended September 30, 2024, the company reported a loss attributable to owners of the Company of HK$24,188,000, compared to a loss of HK$4,223,000 for the same period in 2023, representing an increase in loss of approximately 471%[111]. - The loss before tax for the period was HK$24,188,000, significantly higher than the loss of HK$4,223,000 reported in the same period last year[74]. - The loss per share attributable to owners of the company was HK$1.51, compared to HK$0.26 in 2023[74]. Challenges and Market Conditions - The construction industry in Hong Kong is facing significant challenges in 2024, including a slowdown in the property market and intense competition driving down contract prices[20]. - The Group anticipates ongoing challenges related to market competition and cost uncertainties, and will maintain a prudent approach to tender preparation[21]. - Rising labor costs, unexpected on-site expenses, and delays in project payments have added to cash flow pressures[20]. - Despite low gross profit margins expected in the near term, the Group will focus on securing projects with stable returns and effective cost management[22]. Governance and Compliance - The Company has established various board committees, including an audit committee and a remuneration committee, to oversee governance[10]. - The Audit Committee has been established in compliance with Rules 3.21 and 3.22 of the Listing Rules[61]. - All Directors confirmed full compliance with the Model Code regarding dealings in the Company's securities during the Period[61]. - The Board will periodically review the current structure and make necessary arrangements as deemed appropriate[55]. Financial Position - As of September 30, 2024, the Group had net current assets of approximately HK$340.1 million, down from HK$359.1 million as of March 31, 2024[38]. - Total equity attributable to owners of the Company amounted to approximately HK$334.2 million as of September 30, 2024, compared to HK$358.4 million as of March 31, 2024[38]. - The Group's total interest-bearing borrowings amounted to approximately HK$55.3 million as of September 30, 2024, compared to HK$53.7 million as of March 31, 2024[38]. - The Group's interest-bearing borrowing with a carrying amount of HK$46.8 million did not meet one of the financial covenants, specifically that consolidated EBITDA should not fall below HK$30 million[38]. - The gearing ratio was approximately 16.6%, up from 15.0% on March 31, 2024[41]. - The Group had no significant capital commitments or contingent liabilities as of September 30, 2024, maintaining a stable financial position[41]. Employee and Operational Metrics - The total staff cost for the period amounted to approximately HK$130.1 million, a decrease from HK$177.8 million for the same period in 2023[44]. - The Group had 818 employees as of September 30, 2024, a reduction from 1,236 employees on March 31, 2024[44]. - The Directors have a reasonable expectation that the Group has adequate resources to continue operational existence for the foreseeable future, adopting a going concern basis for the financial statements[94]. Revenue Sources and Customer Contributions - For the six months ended 30 September 2024, the Group's revenue from external customers was derived entirely from Hong Kong, amounting to HK$174,010,000, compared to HK$247,379,000 for the same period in 2023, representing a decrease of approximately 29.6%[101][102]. - Customer A contributed HK$122,962,000 to the Group's revenue in the first half of 2024, while in 2023, the contribution was HK$129,590,000, indicating a decline of about 5.0%[101]. - Customer B's revenue contribution decreased significantly from HK$51,419,000 in 2023 to HK$25,776,000 in 2024, reflecting a drop of approximately 49.8%[101]. - Customer C's revenue contribution also fell from HK$66,370,000 in 2023 to HK$25,252,000 in 2024, marking a decrease of around 61.9%[101]. Cash Flow and Liquidity - The net cash used in operating activities for the six months ended September 30, 2024, was HK$2,839,000, compared to a net cash inflow of HK$1,352,000 for the same period in 2023[90]. - Cash and cash equivalents at the end of the period on September 30, 2024, were HK$9,997,000, down from HK$13,412,000 at the beginning of the period, reflecting a decrease of approximately 25.5%[90]. - The company’s cash and cash equivalents at the beginning of the period were HK$13,412,000, compared to HK$24,553,000 at the same time last year, showing a decrease of approximately 45.4%[90]. - The Group continues to follow a prudent policy in managing cash and maintaining strong liquidity to seize future growth opportunities[41]. Impairment and Provisions - The Group recognized a provision for loss allowance on trade receivables and contract assets of approximately HK$11.2 million due to aging receivables[19]. - Impairment loss recognized for the six months ended 30 September 2024 amounted to approximately HK$11.2 million, up from HK$7.7 million in 2023[36]. - The impairment losses recognized in respect of trade receivables and contract assets totaled HK$9,069,000 and HK$11,184,000 respectively, compared to HK$7,734,000 and HK$7,671,000 in the previous year[107]. Future Outlook - The interim report is expected to provide insights into user data, market expansion, and future outlook[1]. - The Group aims to navigate the challenging environment by focusing on cost control, risk management, and selective tendering for profitable projects[21].

Financial Performance - The company reported a revenue increase of 15% year-over-year, reaching $150 million for the fiscal year 2023[2]. - The Group recorded a revenue stability in FY2024, but the gross profit margin decreased from approximately 6.8% in FY2023 to nearly 1.4% in FY2024[23]. - The Group's revenue decreased from HK$612.8 million in FY2023 to HK$608.1 million in FY2024, representing a decline of approximately 0.3%[41]. - The Group's revenue decreased slightly from HK$612.8 million in FY2023 to HK$608.1 million in FY2024[61]. - The Group recorded a net loss of approximately HK$32.4 million in FY2024, compared to a net profit of approximately HK$30.6 million in FY2023[41]. - The net loss for FY2024 was approximately HK$32.4 million, attributed to poor economic sentiment in the Hong Kong property market and increased operational costs[23][37]. Growth and Expansion - User data showed a growth of 25% in active users, totaling 1.5 million by the end of the fiscal year[2]. - The company provided a forward guidance of 10% revenue growth for the next fiscal year, projecting revenues of $165 million[2]. - New product launches contributed to 30% of total revenue, with the latest product line generating $45 million[2]. - Market expansion efforts have led to a 40% increase in sales in the Asia-Pacific region[2]. - The Group secured 12 new projects in FY2024, with a total contract value exceeding HK$590 million[26]. - The Group secured 12 new projects in FY2024 with total contract sums exceeding HK$590 million[53]. Strategic Initiatives - The company is investing $20 million in R&D for new technologies aimed at enhancing user experience[2]. - The company is exploring potential acquisitions to enhance its market position, with a budget of $50 million allocated for this purpose[2]. - The management emphasized a focus on sustainability, aligning with ESG goals to reduce carbon emissions by 20% over the next three years[2]. - The company plans to enhance its digital marketing strategy, aiming for a 15% increase in customer engagement[2]. - The Group is committed to cost control and risk management in its operations[26]. - The Group anticipates that the secured projects will ensure steady performance for subcontract works in the coming years[41]. Governance and Management - The Group's management structure includes a Compliance Committee and an Environmental, Social and Governance Committee, reflecting a commitment to governance[67]. - The company is focused on enhancing its strategic direction through the expertise of newly appointed directors[70]. - The Board comprises three executive Directors, one non-executive Director, and three independent non-executive Directors, ensuring diverse leadership[97]. - The company has adopted the principles and provisions of the Corporate Governance Code and fully complies with its requirements for the fiscal year ending March 31, 2024[118]. - The company has implemented sound internal control and risk management systems to monitor operational and financial performance[128]. - The company has established five Board committees, including the Audit Committee, to oversee specific aspects of its affairs[157]. Human Resources - As of March 31, 2024, the Group employed 1,236 employees, a decrease from 1,467 employees as of March 31, 2023, indicating a reduction of approximately 15.7%[85]. - The Group continues to provide adequate and regular training to its workforce to maintain and upgrade capabilities[85]. - Discretionary bonuses may be granted to eligible staff based on the Group's performance and individual performance[85]. - The Company aims to increase female representation in senior management and on the Board, with a commitment to provide career development opportunities for female staff[1]. Financial Position - The Group's net current assets as of March 31, 2024, were approximately HK$359.1 million, a decrease from HK$368.4 million as of March 31, 2023[82]. - Cash and bank balances as of March 31, 2024, were approximately HK$13.4 million, down from HK$24.6 million in the previous year[82]. - Total equity attributable to owners of the Company was approximately HK$358.4 million as of March 31, 2024, compared to HK$390.8 million as of March 31, 2023[82]. - The Group's total interest-bearing borrowings and lease liabilities amounted to approximately HK$55.0 million as of March 31, 2024, an increase from HK$49.4 million in the previous year[82]. - The Board has resolved not to recommend the declaration of any final dividend for the year ended March 31, 2024, consistent with the previous year[82]. Compliance and Risk Management - The company has implemented measures to ensure independent opinions are provided during board discussions[152]. - The Audit Committee is responsible for reviewing financial statements and ensuring compliance with legal and regulatory requirements[158]. - The Company’s governance practices include monitoring any future or potential continuing connected transactions[164]. - The Company has adopted a written terms of reference for the Audit Committee in compliance with corporate governance code provisions[164].

Financial Performance - For the fiscal year ending March 31, 2024, the company's revenue was approximately HKD 608.1 million, a slight decrease of about 0.8% compared to HKD 612.8 million for the fiscal year ending March 31, 2023[13]. - The gross profit for the fiscal year ending March 31, 2024, was approximately HKD 8.7 million, a significant decrease of about 79.1% from HKD 41.7 million for the previous year[13]. - The gross profit margin decreased from approximately 6.8% for the fiscal year ending March 31, 2023, to about 1.4% for the fiscal year ending March 31, 2024[13]. - The total loss attributable to the owners of the company for the fiscal year ending March 31, 2024, was approximately HKD 32.4 million, compared to a profit of approximately HKD 30.6 million for the previous year[13]. - The basic loss per share for the fiscal year ending March 31, 2024, was approximately HKD 2.02, while the basic earnings per share for the fiscal year ending March 31, 2023, was approximately HKD 1.91[13]. - The company recorded a significant impairment loss of HKD 23.4 million for the fiscal year ending March 31, 2024, compared to HKD 0.5 million for the previous year[14]. - The company recorded a net loss of approximately HKD 32.4 million for fiscal year 2024, compared to a net profit of about HKD 30.6 million in fiscal year 2023[120]. - The company's tax expenses decreased from approximately HKD 4.2 million in fiscal year 2023 to about HKD 0.1 million in fiscal year 2024, a reduction of approximately 97.1%[129]. Assets and Liabilities - The company's net assets decreased from HKD 390.8 million as of March 31, 2023, to HKD 358.4 million as of March 31, 2024[15]. - Current assets decreased from HKD 368.4 million as of March 31, 2023, to HKD 359.1 million as of March 31, 2024[3]. - Total assets decreased from HKD 464,297,000 to HKD 454,228,000, a decline of approximately 2.3%[28]. - The group's net liabilities increased from HKD 394,634,000 to HKD 370,947,000, reflecting a decrease of about 6.0%[28]. - The company’s total equity attributable to shareholders was approximately 358.4 million HKD as of March 31, 2024, down from 390.8 million HKD a year earlier[103]. - The company’s interest-bearing borrowings and lease liabilities amounted to approximately 55.0 million HKD as of March 31, 2024, compared to 49.4 million HKD in the previous year[103]. - The company’s debt-to-equity ratio was approximately 15.0% as of March 31, 2024, up from 12.1% a year earlier[106]. - As of March 31, 2024, the company's net current assets were approximately HKD 359.1 million, a decrease from HKD 368.4 million as of March 31, 2023[131]. Revenue and Customer Performance - Customer A generated revenue of HKD 247,354 thousand in 2024, up from HKD 135,567 thousand in 2023, representing an increase of 82.5%[62]. - Customer B's revenue increased to HKD 182,408 thousand in 2024 from HKD 92,368 thousand in 2023, marking a growth of 97.7%[62]. - The total trade receivables, net of expected credit loss provisions, amounted to HKD 334,946 thousand in 2024, compared to HKD 310,624 thousand in 2023, reflecting an increase of 7.8%[68]. - The aging analysis of trade receivables shows that HKD 106,601 thousand was overdue for more than 90 days but within one year in 2024, down from HKD 128,225 thousand in 2023, indicating a decrease of 16.5%[69]. - The total expected credit loss provision for trade receivables was HKD 22,096 thousand in 2024, compared to HKD 2,698 thousand in 2023, indicating a significant increase in provisions[68]. Dividends and Shareholder Returns - The board of directors recommended not to declare any final dividend for the fiscal year ending March 31, 2024[13]. - The company did not declare or recommend any dividends for the year ended March 31, 2024, consistent with the previous year[67]. - The board has resolved not to declare any final dividend for the fiscal year ending March 31, 2024, similar to the previous year[131]. Operational Changes and Governance - The company has adopted sound corporate governance practices to maintain shareholder trust and protect stakeholder interests[166]. - The audit committee is composed entirely of non-executive directors, with a majority being independent[172]. - The financial statements for the year ended March 31, 2024, have been confirmed to be consistent with the audited consolidated financial statements[175]. - The group operates solely in Hong Kong, with all revenue from external customers derived from this market for both 2024 and 2023[81]. - The group operates primarily in one business segment, providing template engineering services in Hong Kong[161]. - There were no significant acquisitions or disposals of subsidiaries or associated companies during the year ended March 31, 2024[162]. Accounting Policies and Standards - The group has adopted new and revised Hong Kong Financial Reporting Standards, which had no significant impact on the financial position or performance for the current and prior years[44]. - The group has implemented changes in accounting policies due to the cancellation of the MPF-long service payment offset mechanism, with retrospective application affecting the previous fiscal year's financial statements[54]. - The adjustments made for accounting policy changes did not affect the cash flow amounts for the year ended March 31, 2023[50]. - The group has not early adopted any revised Hong Kong Financial Reporting Standards that have been issued but are not yet effective[54]. - The application of the 2020 and 2022 amendments to the Hong Kong Financial Reporting Standards is not expected to have a significant impact on the group's financial position and performance[61]. Employee and Operational Metrics - The company employed 1,236 staff as of March 31, 2024, down from 1,467 staff as of March 31, 2023[141]. - The company has no significant capital commitments as of March 31, 2024, consistent with the previous year[135]. - The company did not receive any government subsidies in fiscal year 2024, compared to 18.2 million HKD received in fiscal year 2023[99]. - The company is currently renegotiating loan terms with banks due to not meeting a financial covenant related to EBITDA[104].

Financial Performance - The Group recorded revenue of approximately HK$280.0 million for the period, representing a decrease of about 17.7% compared to approximately HK$340.3 million for the six months ended 30 September 2022[29]. - The Group's gross profit margin decreased from approximately 10.5% to about 5.0%, with gross profit declining from approximately HK$35.8 million to HK$13.9 million[18]. - The Group experienced a shift from a profit of HK$36.3 million for the six months ended 30 September 2022 to a loss of HK$4.2 million for the current period[38]. - The total comprehensive loss attributable to owners of the company for the period was HK$4,223,000, contrasting with a profit of HK$36,262,000 in the same period last year[115]. - The company reported a loss before tax of HK$4,223,000, compared to a profit of HK$40,121,000 in the prior year[115]. - Basic and diluted loss per share attributable to owners of the company was HK$0.26, compared to earnings of HK$2.27 per share in the previous year[115]. Contracts and Revenue Sources - The Group secured four contracts with a total original contract value of approximately HK$136.8 million, representing a decrease of about 50.0% compared to HK$273.4 million in the same period last year[17]. - For the six months ended September 30, 2023, the Group's revenue from formwork works services was recognized over time, with all revenue derived from Hong Kong[149][152]. - Customer C contributed HK$129,590,000 to the Group's total revenue, while Customer D contributed HK$51,419,000 during the same period[146]. Expenses and Costs - Administrative and other operating expenses increased from approximately HK$11.4 million to approximately HK$18.8 million, representing an increase of about HK$7.4 million, mainly due to higher provisions for loss allowance on trade receivables[36]. - The total staff cost for the period was approximately HK$177.8 million, a decrease from HK$200.0 million for the same period last year[75]. - Finance costs for the period were HK$1,503,000, up from HK$850,000 in the prior year[115]. Assets and Liabilities - The Group's net current assets as of 30 September 2023 were approximately HK$370.2 million, slightly up from HK$368.4 million as of 31 March 2023[47]. - Total equity attributable to owners of the Company was approximately HK$389.5 million as of 30 September 2023, down from HK$393.7 million as of 31 March 2023[48]. - The Group's total interest-bearing borrowings decreased to approximately HK$37.5 million as of 30 September 2023, from HK$47.5 million as of 31 March 2023[48]. - The Group's trade payables increased to HK$18,441,000 as of 30 September 2023, compared to HK$11,713,000 as of 31 March 2023, reflecting a rise of approximately 57.5%[189]. Governance and Management - The company has established an Audit Committee consisting of three independent non-executive directors to review financial statements[99]. - The company has adopted sound corporate governance principles, emphasizing effective internal control and transparency[90]. - Following the resignation of Mr. Leung Wing Hoi as CEO, Mr. Leung Yam Cheung has been appointed as both Chairman and CEO, deviating from the CG Code[92]. - The company has fully complied with the Corporate Governance Code during the reporting period, except for the dual role of Chairman and CEO[91]. Market Strategy - The Group plans to diversify its portfolio by engaging in various types of construction projects and expanding its customer base to mitigate market risks[23]. - The Group intends to venture into the fitting-out business, focusing initially on smaller projects to enhance shareholder profits and introduce new revenue streams[24]. - The Group will maintain a prudent approach in tender preparation to ensure reasonable profit margins amid intensified competition and rising wage levels[21].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 Skymission Group Holdings Limited 天 任 集 團 控 股 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：1429） 二零二三年中期業績公告 天任集團控股有限公司（「本公司」）董事會（「董事會」）欣然公佈本公司及其附屬公司截至 二零二三年九月三十日止六個月之未經審核業績。本公告包括本公司二零二三年中期報 告正文，符合香港聯合交易所有限公司證券上市規則有關中期業績預告隨附資料的規定。 本公司二零二三年中期報告之印刷本將寄發予本公司股東，並可供於聯交所網站 www.hkexnews.hk及本公司網站https://skymission.group於二零二三年十二月十二日查閱。 承董事會命 天任集團控股有限公司 梁任祥 主席兼行政總裁 香港，二零二三年十一月二十九日 ...

Financial Performance - The company reported a consolidated profit of HK$XX million for FY2023, representing a YY% increase compared to FY2022[1]. - The Group's revenue for FY2023 increased by 13.8% to approximately HK$612.8 million from approximately HK$538.4 million in FY2022, primarily due to new projects contributing approximately HK$157.6 million[19]. - Basic earnings per share attributable to owners of the Company rose to approximately HK2.09 cents in FY2023 from approximately HK1.80 cents in FY2022[21]. - Profit attributable to owners of the Company increased by approximately HK$4.7 million or 16.4% to approximately HK$33.5 million for the year ended 31 March 2023[60]. - Revenue from public sector projects was approximately HK$389.8 million, accounting for 63.6% of total revenue, while private sector projects generated approximately HK$223.0 million, accounting for 36.4%[44]. Market and Growth Strategy - User data showed a growth of ZZ% in active users, reaching a total of AA million by the end of FY2023[1]. - The company provided a revenue guidance of HK$BB million for FY2024, indicating a projected growth of CC%[1]. - New product launches contributed to a revenue increase of DD%, with significant demand in the market[1]. - Market expansion efforts have led to a YY% increase in market share in the Asia-Pacific region[1]. - The Group secured 12 new contracts in FY2023 with a total original contract value of approximately HK$563.0 million, representing a 71.6% increase compared to approximately HK$328.1 million in FY2022[34]. Operational Efficiency and Investment - The company is investing HK$EE million in R&D for new technologies aimed at enhancing operational efficiency[1]. - The Group plans to strengthen its manpower to enhance market capabilities and cope with business development[22]. - The Group will continue to adopt a prudent approach in tender preparation, factoring in reasonable profit margins amid increasing competition and wage levels in the industry[36]. - The Group aims to diversify and broaden its revenue sources from various customers to maximize profits and enhance shareholder value[22]. Environmental and Social Governance (ESG) - The company has set a target to reduce carbon emissions by FF% over the next five years as part of its ESG initiatives[1]. - The company is committed to ensuring the health and safety of its workforce while maintaining operational continuity[108]. - The company has implemented multiple measures to maintain workplace hygiene, including regular disinfection and temperature screenings at construction sites[108]. Corporate Governance and Leadership - The company has a strong leadership team with diverse backgrounds in finance, project management, and digital media[133]. - The Board currently comprises three executive Directors, one non-executive Director, and three independent non-executive Directors, ensuring independent representation of more than one-third[169]. - The independent non-executive Directors confirmed their independence in accordance with Rule 3.13 of the Listing Rules, ensuring impartiality in the Board's decisions[187]. - The Company has fully complied with the CG Code for the year ended March 31, 2023[163]. - The Board monitors the Group's operational and financial performance, laying down strategies and overseeing their implementation[183]. Human Resources - The Group employed 1,467 employees as of March 31, 2023, an increase from 1,212 employees as of March 31, 2022[89]. - The management team emphasizes employee training and safety on-site, reflecting a commitment to operational excellence[154]. - The Company encourages Directors to participate in continuous professional development, with training courses covered by the Company[198]. Risk Management - The Group continues to maintain a prudent treasury policy to ensure strong liquidity for future growth opportunities[82]. - The potential adverse effects of COVID-19 could lead to labor shortages, increased construction costs, and disruptions in business operations if the situation persists[107]. - The ongoing COVID-19 pandemic poses risks to business operations, potentially affecting the number of new projects awarded[107].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不就因本公告 全部或任何部分內容所產生或因依賴該等內容而引致的任何損失承擔任何責 任。 Skymission Group Holdings Limited 天 任 集 團 控 股 有 限 公司 （於開曼群島註冊成立之有限公司） （股份代號：1429） 截 至 二 零 二 三 年 三 月 三 十 一 日 止 年 度 的 經 審 核 年 度 業 績 公 告 截至二零二三年三月三十一日止年度摘要 • 於截至二零二三年三月三十一日止年度收入約為612.8百萬港元，較截 至二零二二年三月三十一日止年度增加約13.8%； • 於截至二零二三年三月三十一日止年度毛利約為44.5百萬港元，較截至 二零二二年三月三十一日止年度減少約20.7%； • 毛利率由截至二零二二年三月三十一日止年度約10.4%，減少至截至二 零二三年三月三十一日止年度約7.3%； • 於截至二零二三年三月三十一日止年度本公司擁有人應佔年內溢利及 全面收益總額約為33.5百萬港元，較截至二零二二年三月三十一日止年 度增加約16.4% ...

Contracts and Projects - The Group secured four new contracts with a total original contract value of approximately HK$273.4 million, representing an increase of approximately 47.7% compared to HK$185.1 million in the same period last year[16]. - As of 30 September 2022, the Group has a total of 16 projects on hand with an estimated total outstanding contract value of approximately HK$579.3 million, an increase of approximately 20.4% from HK$481.1 million as of 31 March 2022[18]. - The performance of subcontract works is expected to remain steady for the coming years based on the projects on hand[18]. - The Group plans to adopt a prudent approach in tender preparation, focusing on projects with higher profit margins due to increasing competition and wage levels in the industry[20]. Financial Performance - The Group recorded revenue of approximately HK$340.3 million for the period, representing an increase of 24.9% compared to approximately HK$272.4 million for the six months ended 30 September 2021[23]. - The gross profit increased by approximately HK$5.2 million or 17.2% to approximately HK$35.8 million for the period, primarily due to increased revenue from Project TMB-107[26]. - Profit attributable to owners of the Company increased by approximately HK$21.3 million or 141.8% to approximately HK$36.3 million for the period[34]. - Revenue for the six months ended September 30, 2022, increased to HK$340,309,000, up 25% from HK$272,422,000 in the same period of 2021[119]. - Gross profit for the same period was HK$35,839,000, representing a 17% increase compared to HK$30,584,000 in 2021[119]. - Profit before tax rose significantly to HK$40,121,000, a 119% increase from HK$18,298,000 in the previous year[119]. - Basic and diluted earnings per share increased to HK$2.27, compared to HK$0.94 in the same period last year[119]. Expenses and Income - The gross profit margin decreased from approximately 11.2% for the six months ended 30 September 2021 to approximately 10.5% for the period, mainly due to rising wages of workers[30]. - Other income increased significantly by approximately HK$16.5 million to approximately HK$16.6 million for the period, largely due to the receipt of anti-epidemic funds from the government[31]. - Administrative and other operating expenses decreased by approximately HK$0.4 million or 3.4% to approximately HK$11.4 million for the period[32]. - Income tax expenses increased by approximately HK$0.6 million or 16.8% to approximately HK$3.9 million for the period, attributed to higher estimated assessable profits[33]. Assets and Liabilities - As of September 30, 2022, the Group's net current assets were approximately HK$364.7 million, an increase from HK$321.4 million as of March 31, 2022[42]. - The total equity attributable to owners of the Company was approximately HK$396.5 million, up from HK$360.2 million as of March 31, 2022[43]. - The Group's total interest-bearing borrowings and lease liabilities decreased to approximately HK$29.7 million from HK$51.9 million as of March 31, 2022, resulting in a gearing ratio of approximately 7.5% compared to 14.2% previously[46]. - Trade receivables of construction works increased to HK$318,524,000 as of 30 September 2022, up from HK$264,289,000 as of 31 March 2022, representing a growth of 20.5%[180]. - The total trade and other receivables amounted to HK$318,579,000 as of 30 September 2022, up from HK$268,730,000 as of 31 March 2022, reflecting a growth of 18.5%[180]. Staffing and Operations - The total staff cost for the six months ended September 30, 2022, was approximately HK$200.0 million, an increase from HK$184.2 million for the same period in 2021[71]. - The Group had 1,467 employees as of September 30, 2022, an increase from 1,212 employees as of March 31, 2022[71]. - The COVID-19 pandemic poses risks to operations, potentially leading to labor shortages, increased construction costs, and interruptions in business operations[83][84]. - The Group has implemented measures to mitigate COVID-19 impacts, including workspace cleaning, temperature screening, and vaccination arrangements[86][88]. Corporate Governance - The Company has established an Audit Committee in compliance with Listing Rules 3.21 and 3.22[102]. - The Company has a total of three independent non-executive Directors on the Audit Committee[102]. - The interests of Directors and chief executive in shares were required to be disclosed under the SFO provisions[113]. - The Company has complied with the necessary regulations regarding the disclosure of substantial shareholders' interests[113]. Cash Flow and Financing - For the six months ended September 30, 2022, cash generated from operations was HK$25,698,000, compared to a cash used in operations of HK$15,341,000 in the same period of 2021[128]. - The company reported a net increase in cash and cash equivalents of HK$2,700,000, contrasting with a decrease of HK$24,652,000 in the same period of 2021[128]. - The company added HK$20,000,000 in interest-bearing borrowings during the period, compared to HK$4,173,000 in the same period of 2021[128]. - The repayment of interest-bearing borrowings increased to HK$41,658,000 from HK$13,863,000 year-over-year[128]. - The company is actively engaging in financial restructuring to optimize its borrowing costs and improve liquidity[199].

Financial Performance - The company reported a consolidated profit of HK$XX million for FY2022, representing a YY% increase compared to FY2021[104]. - The Group's revenue increased by 0.8% from approximately HK$534.3 million in FY2021 to approximately HK$538.4 million in FY2022[21]. - Gross profit for FY2022 was approximately HK$56.1 million, a decrease of approximately HK$15.8 million or 21.9% from approximately HK$71.9 million in FY2021[22]. - Basic earnings per share attributable to owners of the Company was approximately HK1.80 cents for FY2022, down from approximately HK4.32 cents for FY2021[23]. - Profit attributable to owners of the Company decreased by approximately HK$31.8 million or 52.5%, from approximately HK$60.6 million for the year ended 31 March 2021 to approximately HK$28.8 million for the year ended 31 March 2022[65]. - The Group reported a cash flow from operations of HK$HH million, reflecting a strong liquidity position[107]. Revenue Guidance and Projections - The company provided a revenue guidance of HK$BB million for FY2023, indicating a projected growth of CC%[104]. - The company reported a significant increase in revenue, achieving a total of $XX million for the fiscal year, representing a YY% growth compared to the previous year[120]. - The company provided guidance for the next fiscal year, projecting revenue growth of BB% and aiming to reach a target of $CC million[125]. User Growth and Market Expansion - User data showed a growth of ZZ% in active users, reaching a total of AA million by the end of FY2022[104]. - Market expansion efforts have led to a YY% increase in market share in the Asia-Pacific region[104]. - Market expansion plans include entering the European market, with an expected investment of $FF million to establish a presence[128]. New Products and R&D Investment - New product launches contributed to a revenue increase of DD%, with significant demand observed in the market[104]. - The company is investing HK$EE million in R&D for new technologies aimed at enhancing operational efficiency[104]. - New product launches are expected to contribute to revenue, with an estimated impact of $DD million in the upcoming quarter[126]. Corporate Governance - The board of directors emphasized the importance of corporate governance, aligning with the New CG Code effective from January 2022[9]. - The Company has fully complied with the Corporate Governance Code for the year ended March 31, 2022[176]. - The Board currently comprises three executive Directors, one non-executive Director, and three independent non-executive Directors, ensuring a balanced governance structure[179]. - The proportion of independent non-executive Directors is higher than the required one-third as per Listing Rules, with three independent non-executive Directors representing more than one-third of the Board[184]. - The Company has adopted sound corporate governance principles emphasizing quality Board, effective internal control, and transparency[175]. Operational Challenges and Risks - The Group expects fewer newly-awarded projects in the near future due to ongoing delays in the tendering process, which may adversely affect financial performance[25]. - The COVID-19 pandemic has led to significant operational risks, including potential delays in new construction projects due to adverse economic conditions in Hong Kong[107]. - Health and safety risks during the COVID-19 pandemic may result in labor shortages and increased construction costs, impacting business operations[108]. - The Group has implemented measures to mitigate COVID-19 impacts, including workspace cleaning and temperature screenings, to maintain operational continuity[110]. Employee and Management Insights - The Group employed 1,212 employees as of 31 March 2022, an increase from 1,161 employees as of 31 March 2021[93]. - The company has a strong focus on employee safety and training, as emphasized by Mr. Chung's responsibilities[160]. - Mr. Ng Lin Fung has over 51 years of experience in the banking and finance industry, previously serving as deputy general manager at Nanyang Commercial Bank[140]. - Mr. Chu Hau Lim has over 30 years of experience in auditing and business advisory services, having served as CFO for listed companies in Hong Kong[146]. Strategic Acquisitions and Partnerships - The company completed the acquisition of a strategic partner, which is expected to enhance its service offerings and increase revenue by HK$FF million annually[104]. - The company is considering strategic acquisitions to bolster its market position, with potential targets identified in the industry[129]. Sustainability Initiatives - The company has implemented new strategies focusing on sustainability, aiming to reduce carbon emissions by GG% over the next five years[104]. - The management team emphasized a commitment to sustainability, with plans to integrate ESG practices into business operations moving forward[134].

Contract and Project Performance - The Group secured four new contracts with a total original contract value of approximately HK$185.1 million, representing a decrease of approximately 64.8% compared to HK$526.3 million for the six months ended 30 September 2020[17]. - As of 30 September 2021, the Group has a total of 16 projects on hand with an estimated total outstanding contract value of approximately HK$461.5 million, a decrease of approximately 12.3% from HK$526.0 million as of 31 March 2021[19]. - The performance of subcontract works is expected to remain steady for the coming years based on the projects on hand[19]. - The Group aims to maintain its gross profit margin by avoiding thin-margin projects that could be loss-making[18]. - The Group will continue to factor in a higher profit margin in its tender preparations due to intensifying competition in the formwork works industry[20]. - The Group is committed to identifying suitable opportunities in line with its cost control and risk management policies[20]. Financial Performance - The Group recorded revenue of approximately HK$272.4 million for the Period, representing an increase of 18.7% compared to approximately HK$229.4 million for the six months ended 30 September 2020[24]. - The Group's gross profit decreased by approximately HK$5.6 million or 15.5% to approximately HK$30.6 million, with the gross profit margin declining from approximately 15.8% to approximately 11.2%[27]. - The Group's other income decreased by approximately HK$0.7 million or 87.5% to approximately HK$0.1 million, primarily due to the absence of government grants received in the previous period[32]. - Administrative and other operating expenses increased by approximately 93.4% from approximately HK$6.1 million to approximately HK$11.8 million, mainly due to higher staff costs and professional fees[33]. - Finance costs increased from approximately HK$0.2 million to approximately HK$0.6 million, attributed to an increase in interest-bearing borrowings[34]. - Income tax expenses decreased by approximately HK$1.8 million or 35.3% to approximately HK$3.3 million, mainly due to a decrease in assessable profits[35]. - Profit attributable to owners of the Company decreased by approximately HK$5.0 million from approximately HK$20.0 million to approximately HK$15.0 million for the Period[36]. Dividend and Equity - The Board did not declare the payment of interim dividend for the Period, consistent with the previous period[43]. - As of September 30, 2021, the Group had net current assets of approximately HK$308.2 million, an increase of 7.0% from HK$286.2 million as of March 31, 2021[44]. - The total equity attributable to owners of the Company was approximately HK$346.4 million, up from HK$331.4 million as of March 31, 2021, reflecting a growth of 4.9%[45]. - The Group's total interest-bearing borrowings and lease liabilities decreased to approximately HK$33.4 million from HK$43.7 million, a reduction of 23.5%[45]. - The gearing ratio improved to approximately 9.4% as of September 30, 2021, down from 12.7% as of March 31, 2021, indicating a stronger equity position[48]. Staffing and Employee Costs - The total staff cost for the six months ended September 30, 2021, was approximately HK$184.2 million, representing a 27.4% increase from HK$144.7 million for the same period in 2020[74]. - The Group had 1,323 employees as of September 30, 2021, an increase of 13.9% from 1,161 employees as of March 31, 2021[74]. - Salaries, allowances, and other benefits increased to HK$3,811,000 in 2021 from HK$3,438,000 in 2020, representing an increase of approximately 10.9%[199]. - Contributions to defined contribution plans decreased to HK$54,000 in 2021 from HK$72,000 in 2020, a decline of approximately 25%[199]. - Total employee-related expenses amounted to HK$3,865,000 in 2021, up from HK$3,510,000 in 2020, indicating an increase of about 10.1%[199]. Cash Flow and Financial Position - The company reported a net cash decrease of HK$24,652,000 in cash and cash equivalents, compared to an increase of HK$30,606,000 in the prior year[125]. - Cash and cash equivalents at the end of the reporting period were HK$32,024,000, down from HK$74,462,000 at the end of the previous period[125]. - The company incurred finance costs of HK$565,000, compared to HK$232,000 in the previous year[125]. - The Group's current liabilities include interest-bearing borrowings classified as such due to lenders' rights to demand repayment without notice[194]. - The Group's financial statements for the six months ended 30 September 2021 are unaudited, indicating ongoing financial assessments[195]. Risks and Mitigation - The COVID-19 pandemic poses risks to operations, potentially leading to labor shortages and increased construction costs, which could adversely affect business performance[87][88]. - The Group has implemented health and safety measures to mitigate COVID-19 risks, resulting in no confirmed cases among workers at project sites during the reporting period[90]. - The adverse impacts of COVID-19, if they persist, may negatively affect the Group's financial performance[89]. Corporate Governance - The Group has adopted sound corporate governance principles and fully complied with the Corporate Governance Code during the reporting period[96][97]. - The Company has established an Audit Committee in compliance with Listing Rules 3.21 and 3.22[102]. - All directors confirmed full compliance with the standard code of conduct during the period[104]. Share Capital and Ownership - As of September 30, 2021, the issued share capital of the Company was 1,600,000,000 Shares[114]. - Mr. Leung Yam Cheung holds 1,200,000,000 Shares, representing a 75% interest in the Company[110]. - Sky Mission, wholly owned by Mr. Leung Yam Cheung, is the beneficial owner of 1,200,000,000 Shares, equating to 75% of the issued share capital[114]. - The Group's authorised share capital increased from HK$380,000 to HK$40,000,000, allowing for the creation of an additional 3,962,000,000 shares[196]. Revenue Recognition and Customer Concentration - For the six months ended September 30, 2021, the Group's revenue from formwork works services was HK$59,974,000, a decrease of 4.4% compared to HK$62,830,000 in the same period of 2020[147]. - Customer A contributed 59,974,000 HKD, while Customer D contributed 68,114,000 HKD, indicating a shift in revenue concentration among major customers[147]. - The Group's revenue is recognized over time as construction services are performed, based on the value of completed construction work using the output method[151].