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].

Financial Performance - The company reported a consolidated profit of HK$XX million for FY2021, representing a YY% increase compared to FY2020[73]. - The Group's revenue increased by 22.9%, from approximately HK$434.6 million in FY2020 to approximately HK$534.3 million in FY2021[23]. - For FY2021, the Group recorded revenue of approximately HK$534.3 million, representing an increase of 22.9% compared to FY2020's revenue of approximately HK$434.6 million[45]. - Profit attributable to owners of the Company increased by approximately HK$22.6 million or 59.5%, from approximately HK$38.0 million in FY2020 to approximately HK$60.6 million in FY2021[62]. - Basic earnings per share attributable to owners of the Company was approximately HK4.32 cents for FY2021, compared to approximately HK3.17 cents for FY2020[25]. - Gross profit for FY2021 was approximately HK$71.9 million, a decrease of approximately HK$7.3 million or 9.2% from approximately HK$79.2 million in FY2020[24]. - The gross profit margin fell from approximately 18.2% in FY2020 to approximately 13.5% in FY2021[49]. - Other income increased by approximately HK$21.2 million or 70.7 times, from approximately HK$0.3 million in FY2020 to approximately HK$21.5 million in FY2021, mainly due to the receipt of anti-epidemic funds[52]. - Administrative and other operating expenses rose from approximately HK$12.3 million in FY2020 to approximately HK$17.3 million in FY2021, representing an increase of approximately 40.7%[53]. User Growth and Market Expansion - User data showed a growth of ZZ% in active users year-over-year, reaching a total of AA million users by the end of FY2021[73]. - Market expansion efforts have led to a YY% increase in market share in the Asia-Pacific region[73]. - The company is exploring potential acquisitions to enhance its service offerings and market presence[73]. Revenue Guidance and Projections - The company provided a revenue guidance of HK$BB million for FY2022, indicating a projected growth of CC%[73]. - New product launches contributed to a revenue increase of DD% in the last quarter of FY2021[73]. Research and Development - The company is investing HK$EE million in R&D for new technologies aimed at enhancing operational efficiency[73]. Cost Management and Efficiency - The company has implemented cost-cutting measures that are expected to save HK$FF million annually[73]. - The Board will consider employing Building Information Modelling to enhance construction efficiency and reduce costs[27]. Strategic Initiatives - A new strategic partnership was established with a leading technology firm to co-develop innovative solutions[73]. - The Group plans to diversify its construction projects and client base to minimize market risk amid intensifying competition in the formwork subcontracting market[26]. Corporate Governance - The company has adopted sound corporate governance principles emphasizing a quality Board, effective internal control, stringent disclosure practices, and accountability to all stakeholders[195]. - The Board currently comprises four executive Directors, one non-executive Director, and four independent non-executive Directors, committed to increasing Shareholders' value[198]. - The company has fully complied with the CG Code since the Listing Date up to March 31, 2021[196]. - The company has a commitment to maintaining high standards of corporate governance to safeguard the interests of shareholders and stakeholders[195]. Workforce and Manpower - As of March 31, 2021, the Group employed 1,161 employees and continues to enhance workforce capabilities through regular training[111]. - The Group will strengthen its manpower and capabilities to cope with business development and maximize profits[40]. Financial Position and Assets - As of 31 March 2021, the Group had net current assets of approximately HK$286.2 million, up from HK$157.3 million in 2020[64]. - The Group's total equity attributable to owners amounted to approximately HK$331.4 million as of 31 March 2021, an increase from HK$163.7 million in 2020[65]. - The gearing ratio as of 31 March 2021 was approximately 12.7%, compared to 9.2% in 2020[73]. - The debt-to-equity ratio was approximately 12.7%, an increase from 9.2% in 2020[80]. COVID-19 Impact - The Group continues to monitor the impact of the COVID-19 pandemic on its operations and financial performance[88][89]. - Increased construction costs may arise due to labor shortages and wage increases related to COVID-19[87][93]. Use of Proceeds - The Group plans to utilize HK$ 49.3 million (60.8%) of net proceeds to enhance its financial position for securing additional large-scale formwork projects by March 31, 2022[109]. - HK$ 17.5 million (21.6%) of net proceeds is allocated to increase the stock of metal scaffold equipment and related parts, with no specific timeline for utilization[109]. - The Group intends to strengthen manpower with an allocation of HK$ 7.3 million (9.0%) to cope with business development by March 31, 2022[109]. - Total planned use of net proceeds amounts to HK$ 81.1 million, with HK$ 64.8 million utilized and HK$ 16.3 million remaining unutilized as of March 31, 2021[109]. Management and Leadership - The Group's executive directors have extensive experience in the construction and scaffolding industry, contributing to strategic oversight and operational management[116][119]. - Mr. Ng has over 50 years of experience in the banking and finance industry in Hong Kong, with his last position being a deputy general manager at Nanyang Commercial Bank[147]. - Mr. Lam has over 16 years of experience in the banking sector and has been a non-executive director of Bank of China International Limited since July 2002[154]. - Mr. Chu has over 29 years of experience in professional auditing, consulting, corporate accounting, and financial management, having held senior positions at various firms including PricewaterhouseCoopers[162].

Contracts and Projects - The Group secured nine new contracts with a total original contract value of approximately HK$526.3 million, representing an increase of approximately 110.5% compared to HK$250.0 million in the same period last year[22]. - As of 30 September 2020, the Group has a total of 19 projects on hand with an estimated total outstanding contract value of approximately HK$687.8 million, an increase of approximately 81.8% from HK$378.4 million as of 31 March 2020[22]. Financial Performance - For the six months ended 30 September 2020, the Group recorded revenue of approximately HK$229.4 million, representing an increase of 98.4% compared to approximately HK$115.6 million for the same period in 2019[27]. - The increase in revenue was mainly due to projects TMB-70, TMB-75, TMB-87, TMB-90, and TMB-100, contributing approximately HK$115.8 million[28]. - Gross profit increased by approximately HK$20.2 million or 125.6%, from approximately HK$16.0 million for the six months ended 30 September 2019 to approximately HK$36.2 million for the same period in 2020[30]. - The Group's gross profit margin slightly increased from approximately 13.9% to approximately 15.8%[31]. - Profit attributable to owners of the Company increased by approximately HK$18.0 million or nine times, from approximately HK$2.0 million to approximately HK$20.0 million[44]. - The profit for the period was HK$19,974,000, compared to HK$2,026,000 for the same period last year, showing a substantial growth of 884.5%[124]. Assets and Liabilities - As at 30 September 2020, the Group had net current assets of approximately HK$285.5 million, up from HK$157.3 million as of 31 March 2020[46]. - Total equity attributable to owners of the Company amounted to approximately HK$290.8 million, an increase from HK$163.7 million as of 31 March 2020[47]. - The Group's total interest-bearing borrowings and lease liabilities amounted to approximately HK$11.7 million, down from HK$16.7 million as of 31 March 2020[47]. - The gearing ratio as of 30 September 2020 was approximately 3.3%, a decrease from 9.3% as of 31 March 2020[56]. - Trade receivables of construction works amounted to HK$134.17 million as of September 30, 2020, down from HK$143.99 million as of March 31, 2020, reflecting a decrease of approximately 6.0%[181]. Operational Developments - The Group aims to diversify and broaden its revenue sources by exploring new business opportunities and maximizing profits for shareholders[23]. - The Group plans to enhance its financial position to secure additional large-scale formwork projects and expand its capability in system formwork works services[23]. - The Group intends to increase its stock of metal scaffold equipment and related parts to support business development[23]. - The Group operates primarily in one business segment, providing formwork works services in Hong Kong[62]. Employee and Administrative Costs - The total staff cost for the six months ended 30 September 2020 amounted to approximately HK$144.7 million, compared to HK$84.6 million for the same period in 2019[73]. - Administrative and other operating expenses increased from approximately HK$3.6 million to approximately HK$6.1 million, representing an increase of approximately 67.3%[36]. Cash Flow and Financing - For the six months ended September 30, 2020, cash generated from operations was HK$20,466,000, a significant increase from HK$944,000 in the same period of 2019[127]. - The company reported a net cash inflow from financing activities of HK$20,887,000, up from HK$861,000 in the prior year[127]. - The company raised gross proceeds of HK$140,000,000 from the issuance of 400,000,000 new ordinary shares at HK$0.35 each on September 29, 2020[127]. Shareholder Information - As of September 30, 2020, Mr. Leung Yam Cheung holds 1,200,000,000 shares, representing approximately 75% of the issued share capital[104]. - The weighted average number of ordinary shares in issue for the six months ended September 30, 2020, was 1,202,186,000, slightly up from 1,200,000,000 in 2019[174]. Compliance and Governance - The company has complied with the Corporate Governance Code since its listing[89]. - The Audit Committee has reviewed the unaudited condensed consolidated financial statements for the period[98]. Taxation and Expenses - The Group recognized a total income tax expense of HK$5,069,000 for the six months ended September 30, 2020, up from HK$2,077,000 in 2019, reflecting an increase of approximately 144%[167]. - The company incurred listing expenses of HK$5,679,000 during the reporting period, down from HK$8,495,000 in the previous year[116]. Future Outlook - The Group is confident that its business will continue to operate in a stable manner moving forward[23]. - The expected timeline for utilizing the unutilized proceeds includes HK$49.3 million for enhancing financial position by March 31, 2022, and HK$17.5 million for increasing metal scaffold equipment stock by March 31, 2021[82].