Financial Performance - Revenue for the six months ended September 30, 2022, was HKD 404,590,000, representing a 12.7% increase from HKD 358,951,000 in the same period of 2021[4] - Gross profit for the same period was HKD 83,563,000, up from HKD 77,181,000, indicating a growth of 8.5%[4] - Net profit for the period was HKD 19,698,000, compared to HKD 16,240,000 in the previous year, reflecting a 21.3% increase[4] - Basic and diluted earnings per share were both HKD 1.7, an increase from HKD 1.4 in the prior year[4] - The company reported a decrease in total comprehensive income for the period, totaling HKD (1,622,000) compared to HKD 14,318,000 in the previous year[6] - The total comprehensive income for the period was a loss of HKD 1,622,000, which included a foreign exchange loss of HKD 21,320,000[14] - The company reported a profit attributable to equity shareholders of approximately HKD 15.1 million for the six months ended September 30, 2022, compared to HKD 12.2 million for the same period in 2021, representing an increase of about 23.9%[87] Assets and Liabilities - Total assets less current liabilities as of September 30, 2022, were HKD 577,416,000, down from HKD 595,535,000 as of March 31, 2022[11] - The company’s total equity attributable to equity shareholders was HKD 524,793,000, down from HKD 530,977,000 as of March 31, 2022[11] - As of September 30, 2022, the company's total equity amounted to HKD 536,897,000, reflecting a decrease from HKD 558,671,000 as of September 30, 2021[17] - The total liabilities as of September 30, 2022, were 145,658 thousand HKD, compared to 106,549 thousand HKD as of March 31, 2022, reflecting an increase of approximately 36.7%[70] Cash Flow - For the six months ended September 30, 2022, the company reported a net cash inflow from operating activities of HKD 55,177,000, compared to a net outflow of HKD 27,551,000 in the same period last year[19] - The company incurred a net cash outflow from investing activities of HKD 168,000, compared to HKD 15,000 in the previous year[19] - Cash and cash equivalents increased to HKD 144,719,000 from HKD 107,423,000, showing a significant improvement in liquidity[9] - The cash and cash equivalents at the end of the period increased to HKD 144,719,000 from HKD 114,531,000 year-over-year[19] Revenue Breakdown - Revenue from IT infrastructure solutions service was HKD 265,663,000, up 43% from HKD 185,677,000 in the previous year[30] - Revenue from IT application and solution development services decreased to HKD 37,397,000, down 51% from HKD 76,434,000 year-on-year[30] - The IT maintenance and support services segment generated revenue of HKD 88,722,000, slightly up from HKD 85,915,000 in the previous year[30] - The IT secondment services segment reported revenue of HKD 12,808,000, an increase from HKD 10,925,000 year-on-year[30] Employee Costs - Employee costs, including directors' remuneration, increased to 82,850 thousand HKD for the six months ended September 30, 2022, from 67,227 thousand HKD in the same period of 2021, marking an increase of approximately 23.3%[45] - The employee costs for the interim period were approximately 82.9 million HKD, compared to 67.2 million HKD for the same period in 2021, with a total of 278 full-time employees[133] Corporate Governance - The company has adopted and complied with all provisions of the corporate governance code, except for the separation of the roles of Chairman and CEO, which is currently held by the same individual[135] - The company is committed to maintaining transparency and good corporate governance practices as evidenced by the establishment of the audit committee[160] Share Capital and Ownership - The issued share capital was approximately HKD 21.94 million with 877,590,312 shares outstanding, each with a par value of HKD 0.025[113] - Mr. Li Changyuan holds 173,094,800 shares, representing approximately 19.72% of the company's issued share capital[146] - Dr. Cai Zhaohui owns 143,072,000 shares, accounting for approximately 16.30% of the company's issued share capital[146] - Biz Cloud Limited holds 171,715,600 shares, representing approximately 19.57% of the company's issued share capital[153] Future Outlook - The group plans to maintain and strengthen its market position in Hong Kong, enhance brand awareness, and continue recruiting IT talent to support future growth[95] - The group anticipates a gradual recovery of the local economy as COVID-19 becomes more controlled, while remaining cautious about the unpredictable global environment[96] - The group aims to achieve sustainable growth and enhance overall competitiveness for stakeholders[96]

Financial Performance - The company reported a profit attributable to equity shareholders of approximately HKD 8 million for the fiscal year 2022, maintaining stability compared to the previous fiscal year[10]. - The group's revenue for the fiscal year 2022 was approximately HKD 712.5 million, an increase of about 12% from HKD 637.3 million in the fiscal year 2021[27]. - The group recorded a pre-tax profit of approximately HKD 25.8 million for the fiscal year 2022, compared to HKD 22.6 million in the fiscal year 2021[27]. - The gross profit for the fiscal year 2022 was approximately HKD 131.0 million, a 19% increase from HKD 110.3 million in the previous fiscal year, with a gross margin rising from 17% to 18%[28]. - The net profit for the fiscal year 2022 was approximately HKD 18.9 million, representing an 18% increase from HKD 16.0 million in 2021, driven by a gross profit increase of approximately HKD 20.8 million[35]. - General and administrative expenses increased by approximately 26% to HKD 96.4 million, primarily due to higher employee costs[29]. - The income tax for the fiscal year 2022 was approximately HKD 6.9 million, reflecting a 5% increase from HKD 6.6 million in 2021, primarily due to an increase in net profit[34]. Revenue Segments - Revenue from the IT infrastructure solutions segment, IT maintenance and support services segment, and IT secondment services segment significantly increased, offsetting the decline in revenue from the IT application and solution development services segment[10]. - Revenue from the IT infrastructure solutions segment was approximately HKD 413.6 million, accounting for about 58% of total revenue, representing a 17% increase from HKD 352.9 million in the previous fiscal year[19]. - The IT maintenance and support services segment generated revenue of approximately HKD 147.4 million, which is about 21% of total revenue, reflecting a 10% increase from HKD 133.4 million in the previous fiscal year[23]. - The IT application and solution development services segment's revenue decreased by approximately 0.4% to HKD 128.6 million, accounting for about 18% of total revenue[18]. Cost Management - The company implemented effective cost control measures, particularly in hardware and software procurement and human resource management[10]. - The group's financing costs for the fiscal year 2022 amounted to approximately HKD 1.0 million, an increase of about 27% compared to HKD 0.8 million in 2021[33]. - Employee compensation for the fiscal year 2022 was approximately HKD 136.0 million, an increase from HKD 112.6 million in 2021[78]. Strategic Initiatives - The company aims to reassess and diversify its current business portfolio to prepare for future opportunities while maintaining a strong cash position[13]. - The company continues to strengthen sustainable governance and closely monitor the developments of the COVID-19 pandemic to protect employee interests and business operations[13]. - The company aims to enhance its operational efficiency and business development in both local and overseas markets[93]. - The company is focusing on market expansion and new product development, particularly in fintech and blockchain projects through Head & Shoulders X Inc.[85]. - The company is exploring potential mergers and acquisitions to enhance its market position and expand its service offerings[85]. Governance and Leadership - The board appointed two distinguished directors, enhancing the company's leadership and strategic direction[13]. - The board includes independent directors with extensive backgrounds in finance, law, and public service, ensuring independent judgment on strategy and performance[88][90]. - The company is committed to maintaining high standards of governance and resource management through its audit and compensation committees[88]. - The company has adopted a board diversity policy, considering various measurable aspects such as gender, age, ethnicity, knowledge, and tenure[195]. - The chairman and CEO roles are separated, with Leong Yeng Kit serving as executive director and chairman since August 17, 2021[193]. Shareholder Information - The company reported no final dividend for the fiscal year ending March 31, 2022, consistent with the previous year[109]. - As of March 31, 2022, the distributable reserves available for shareholders were approximately HKD 346.0 million, compared to HKD 315.8 million in 2021[116]. - The company granted stock options for a total of 40,000,000 ordinary shares to selected long-term employees and consultants as a reward for their contributions[11]. - A total of 29,864,000 stock options were exercised by employees and consultants during the fiscal year 2022, resulting in the issuance of 29,864,000 ordinary shares[53]. Risks and Challenges - The company relies heavily on contracts with major clients, with a significant risk of revenue decline if service demands from these clients decrease[103]. - The company’s projects are subject to cost overruns and delays, which could significantly impact its business and financial performance[101]. - The company has no assurance of extending existing agreements or securing new contracts after completing current projects, adding uncertainty to future revenue[105]. - The company’s financial performance and business outlook may be affected by various risks and uncertainties, including project execution challenges[101]. Asset Management - As of March 31, 2022, the group's total assets included investment properties valued at approximately HKD 220.1 million, accounting for about 28% of total assets[47]. - The group's current assets as of March 31, 2022, were approximately HKD 448.0 million, an increase from HKD 340.7 million in 2021, with cash and cash equivalents at approximately HKD 107.4 million[48]. - The group had unused bank financing of HKD 86.8 million as of March 31, 2022, with a liquidity ratio of approximately 2.5 times[49]. - The group’s equity attributable to shareholders was approximately HKD 531.0 million as of March 31, 2022, compared to HKD 483.6 million in 2021[48]. - The group’s asset-liability ratio was approximately 10% as of March 31, 2022, a slight decrease from 11% in 2021[49].

Financial Performance - Revenue for the six months ended September 30, 2021, was HKD 358,951,000, representing a 27.7% increase from HKD 281,123,000 in the same period of 2020[3] - Gross profit for the same period was HKD 77,181,000, up 66.0% from HKD 46,470,000 year-on-year[3] - Net profit for the period was HKD 16,240,000, an increase of 15.5% compared to HKD 14,065,000 in the previous year[5] - Basic earnings per share for the period was HKD 1.4, down from HKD 1.8 in the same period last year[3] - Total comprehensive income for the period ended September 30, 2021, was HKD 14,318,000, compared to HKD 22,273,000 for the same period in 2020, reflecting a decrease of approximately 35.6%[15] - The company reported a decrease in other comprehensive income, totaling HKD (1,922,000) compared to HKD 8,208,000 in the previous year[5] - The company generated HKD 993,000 in other income for the six months ended September 30, 2021, down from HKD 5,526,000 in the same period of 2020[55] - The company reported a pre-tax profit of HKD 5,857,000 for the six months ended September 30, 2021, compared to HKD 4,102,000 for the same period in 2020, representing a growth of 42.7%[63] Assets and Liabilities - Total assets less current liabilities as of September 30, 2021, amounted to HKD 582,773,000, compared to HKD 530,001,000 as of March 31, 2021[10] - The company's net assets increased to HKD 558,671,000 from HKD 505,165,000 in the previous period[10] - Trade and other receivables increased to HKD 194,713,000 from HKD 150,895,000, reflecting a 29.0% rise[8] - The fair value of other financial assets as of September 30, 2021, was HKD 6,480,000, down from HKD 7,700,000 as of March 31, 2021, reflecting a decrease of 15.6%[36][37] - Trade receivables as of September 30, 2021, amounted to HKD 168,834,000, an increase from HKD 131,046,000 as of March 31, 2021, reflecting a growth of approximately 28.8%[82] - Trade payables as of September 30, 2021, amounted to HKD 78,308,000, a decrease of 6.6% from HKD 83,411,000 as of March 31, 2021[86] - Accrued expenses and other payables were HKD 10,073,000, down 46.3% from HKD 18,708,000 as of March 31, 2021[86] Cash Flow - The net cash used in operating activities for the six months ended September 30, 2021, was HKD 27,551,000, compared to a net cash inflow of HKD 26,070,000 in 2020[17] - The company’s cash and cash equivalents increased to HKD 114,531,000 from HKD 106,810,000[8] - The company’s investment activities resulted in a net cash outflow of HKD 15,000 for the period, compared to a net cash inflow of HKD 1,199,000 in 2020[17] Share Capital and Dividends - The company issued new shares during the period, raising HKD 31,083,000 from share placements and HKD 9,706,000 from the exercise of share options[19] - The company declared an interim dividend of HKD 5,587,000 to non-controlling shareholders during the period[19] - The total number of shares issued and fully paid as of September 30, 2021, was 877,590,312, reflecting an increase from previous periods[92] - The company did not recommend any dividend for the six months ended September 30, 2021, consistent with no dividend declared for the same period in 2020[68] Segment Performance - Revenue from IT application and solution development services was HKD 76,434,000, up 112.5% from HKD 36,124,000 year-on-year[41] - Revenue from IT infrastructure solution services reached HKD 185,677,000, an increase of 13.5% compared to HKD 163,026,000 in the previous year[41] - Revenue from IT maintenance and support services generated revenue of HKD 85,915,000, an increase of 23.7% from HKD 69,512,000 in the previous year[41] - Revenue from IT secondment services decreased by approximately 12.3% to HKD 10.9 million, accounting for about 3.1% of total revenue, primarily due to reduced demand from major clients in the banking and financial sectors[116] Employee and Administrative Expenses - The company’s administrative expenses rose to HKD 46,247,000 from HKD 31,599,000, indicating a 46.3% increase[3] - Employee costs, including directors' remuneration, increased to HKD 67,227,000 for the six months ended September 30, 2021, compared to HKD 53,367,000 for the same period in 2020, marking a rise of 25.9%[59] - The company’s general and administrative expenses increased by approximately HKD 14.6 million, primarily due to an increase in employee costs of about HKD 13.7 million[113] Governance and Compliance - The company appointed a new auditor, Crowe (HK) CPA Limited, after the resignation of its previous auditor, which had served for eight years[193] - The audit committee reviewed the unaudited condensed consolidated financial statements for the six months ended September 30, 2021, and found them compliant with applicable accounting standards[195] - The company has established an audit committee consisting of one non-executive director and two independent non-executive directors[195] - The company’s governance practices include the establishment of an audit committee to enhance independence and oversight[195] Future Outlook and Strategy - The company anticipates gradual recovery of the global economy due to the supply of COVID-19 vaccines and fiscal stimulus policies from major economies, maintaining a cautiously optimistic outlook for business growth[121] - The company aims to expand its customer base and improve cost control in response to the challenges posed by the COVID-19 pandemic and competitive pressures in the IT industry[121] - The company plans to utilize approximately HKD 30.5 million from the 2021 placement proceeds for the development of an algorithmic trading solution platform, with no funds utilized as of September 30, 2021[134]

Financial Performance - For the fiscal year 2021, the group recorded a revenue of approximately HKD 637.3 million, an increase of about HKD 31.1 million or 5% compared to the previous fiscal year[30]. - The group achieved a net profit attributable to equity shareholders of approximately HKD 8 million for the fiscal year 2021, a significant decrease from HKD 70.1 million in the previous year[30]. - The fiscal year 2021 saw a pre-tax profit of approximately HKD 22.6 million, down from HKD 83 million in the previous year[30]. - The gross profit for the group in fiscal year 2021 was approximately HKD 110.3 million, a decrease of about 6% from HKD 117.6 million in fiscal year 2020, with the gross profit margin declining from approximately 19% to 17%[44]. - The net profit for the fiscal year 2021 was approximately HKD 16.0 million, a decrease from approximately HKD 77.3 million in 2020[51]. - The income tax for the fiscal year 2021 was approximately HKD 6.6 million, an increase of about HKD 0.9 million or approximately 16% compared to 2020[50]. - General and administrative expenses for the fiscal year 2021 were approximately HKD 76.4 million, a decrease of about HKD 13.5 million or 15% compared to 2020[45]. - Financing costs for the fiscal year 2021 were approximately HKD 0.8 million, a reduction of about HKD 4.4 million or approximately 85% from 2020[49]. Revenue Segments - The increase in revenue was primarily driven by significant growth in the IT application and solution development services segment, as well as the IT maintenance and support services segment[30]. - The revenue from the IT application and solution development services segment was approximately HKD 129.1 million, representing about 20% of the total revenue for the fiscal year 2021, with a significant increase of approximately 160% from HKD 49.7 million in fiscal year 2020[32]. - The revenue from the IT infrastructure solution services segment was approximately HKD 352.9 million, accounting for about 56% of the total revenue for fiscal year 2021, which decreased by approximately 14% from HKD 408.8 million in fiscal year 2020 due to the impact of COVID-19[33]. - The revenue from the IT secondment services segment was approximately HKD 22.0 million, representing about 3% of the total revenue for fiscal year 2021, a decrease of approximately 45% from HKD 39.7 million in fiscal year 2020[34]. - The revenue from the IT maintenance and support services segment was approximately HKD 133.4 million, accounting for about 21% of the total revenue for fiscal year 2021, with an increase of approximately 23% from HKD 108.1 million in fiscal year 2020[36]. - The total revenue for the group in fiscal year 2021 was approximately HKD 637.3 million, an increase of about 5% from HKD 606.3 million in fiscal year 2020, primarily driven by increases in the IT application and solution development services and IT maintenance and support services segments[43]. Investments and Acquisitions - The group completed the acquisition of O2O Limited, which is developing an electronic marketplace project in Malaysia, although the project faced delays due to COVID-19[24]. - The group invested further in Software Technology Limited, which continues to generate profits and improve financial performance despite challenging operating conditions[25]. - The acquisition of a 30% stake in Software Technology, increasing the group's total ownership to 70%, has provided new revenue and profit sources, enriching the business portfolio[39]. - The acquisition of Project CKB was completed on June 2, 2020, but operations have not yet started due to COVID-19; however, it is expected to generate stable rental income post-pandemic[41]. - The group expects stable revenue of over HKD 60 million annually from major IT project contracts continuing until 2027, which will help maintain profitability and provide a solid cash flow for future business expansion[38]. Future Outlook - The management remains optimistic about the future prospects of these investments, anticipating a recovery from the COVID-19 pandemic[26]. - The group anticipates steady improvement in financial performance over the coming years based on the aforementioned factors[42]. - The group plans to leverage internal resources to enhance operational efficiency and maintain strict cost control in response to ongoing challenges[28]. - The company aims to explore suitable investment opportunities both locally and overseas to maintain its competitive edge in the market[28]. Corporate Governance - The board of directors is responsible for the overall management and governance of the company, ensuring high standards of corporate governance and compliance with legal regulations[99]. - The company has adopted a board diversity policy, focusing on measurable criteria such as gender, age, ethnicity, knowledge, and tenure to enhance board performance[104]. - The nomination committee reviews the implementation of the board diversity policy annually to ensure its effectiveness[107]. - The board holds at least four meetings annually to review and approve the company's financial and operational performance, as well as overall strategies and policies[108]. - Independent non-executive directors are invited to serve on the audit, remuneration, and nomination committees, providing valuable business experience and expertise[99]. - The chairman and CEO roles are separated to maintain a balance of power and responsibilities within the board[102]. - The company emphasizes the importance of appointing a suitable candidate for the CEO position in compliance with corporate governance guidelines[102]. - All board meetings require active participation from directors, either in person or through electronic communication[108]. - The company secretary assists in preparing meeting agendas, ensuring that all directors receive relevant documents at least three days prior to meetings[108]. - Attendance records for board meetings and shareholder meetings are maintained to ensure accountability and transparency[111]. - The company held a total of 8 board meetings, 1 annual general meeting, and 3 special general meetings during the reporting period[112]. - The executive directors attended 100% of the board meetings, with specific attendance records for each director noted[117]. - The company has established three committees: Audit Committee, Remuneration Committee, and Nomination Committee, to assist the board in fulfilling its functions[123]. - All directors participated in continuous professional development, enhancing their knowledge and skills relevant to their roles[121]. - The company has no corporate governance committee, with the board responsible for governance functions including policy formulation and compliance monitoring[114]. - Independent non-executive directors confirmed their independence status as per the listing rules, ensuring compliance with governance standards[115]. - The company emphasizes the importance of ongoing professional development for all directors, encouraging participation in relevant training[120]. - The attendance records for the committees during the year ending March 31, 2021, were documented, reflecting active engagement[124]. - The company provides new directors with an onboarding document covering their responsibilities and obligations under the listing rules[119]. - The board meetings are scheduled with at least 14 days' notice to ensure adequate preparation time for all directors[114]. - The audit committee held three meetings during the year ending March 31, 2021, to review the external audit scope and financial statements compliance[130]. - The audit committee reviewed the consolidated financial statements for the year ending March 31, 2021, and confirmed they were prepared in accordance with applicable accounting standards and listing rules[130]. - The remuneration committee is composed of one executive director and two independent non-executive directors, ensuring no director participates in determining their own remuneration[132]. - The nomination committee has established a nomination policy outlining the criteria and procedures for selecting and recommending director candidates[138]. - The nomination committee considers various criteria, including character, integrity, and relevant qualifications when evaluating director candidates[139]. - The company has adopted a diversity policy for the board, focusing on skills, knowledge, and experience to align with corporate strategy[136]. - The audit committee's main functions include reviewing the effectiveness of internal controls and risk management systems[128]. - The remuneration committee is responsible for setting guidelines for the remuneration of directors and senior management[133]. - The company has not encountered any disagreements with the audit committee regarding the selection and appointment of external auditors[131]. - The audit committee chairman possesses appropriate professional qualifications and experience in accounting[127]. - The board of directors confirmed that there are no significant uncertainties affecting the group's ability to continue as a going concern as of March 31, 2021[143]. - The external auditor's fees for audit services amounted to HKD 880,000, while non-audit services totaled HKD 88,000 for the year ending March 31, 2021[150]. - The company has adopted a dividend policy aimed at balancing returns to shareholders with the need for long-term sustainable development, and no dividends were recommended for the year ending March 31, 2021[149]. - The board has established a risk management framework to identify, assess, and manage significant risks, with annual reviews conducted to ensure effectiveness[145]. - An independent consultant was engaged to conduct a risk assessment and internal control review, concluding that the internal control system was effective and adequate as of March 31, 2021[148]. - The company secretary confirmed attendance of at least 15 hours of relevant professional training during the year ending March 31, 2021[151]. - The board is responsible for presenting a comprehensive and understandable assessment of the group's financial position and prospects[143]. - The internal control system aims to minimize risks and ensure effective operations, providing reasonable but not absolute assurance against misstatements or losses[145]. - The nomination committee is responsible for evaluating candidates for the board and ensuring compliance with relevant qualifications[142]. - The company will issue a circular to shareholders containing details of nominated candidates for election or re-election at the annual general meeting[142]. Environmental, Social, and Governance (ESG) Initiatives - The environmental, social, and governance (ESG) report outlines the company's commitment to sustainable development and stakeholder engagement[162]. - The company emphasizes the importance of maintaining communication with stakeholders, including investors, employees, and regulatory bodies[169]. - The board oversees the implementation of the company's ESG strategies and ensures effective risk management and internal controls[163]. - The report covers the company's core business operations and its performance in sustainable development for the fiscal year ending March 31, 2021[164]. - The company has established various communication channels to keep shareholders and investors informed about its latest developments[159]. - The company has not made significant changes to its articles of association as of March 31, 2021[160]. - The company allows qualified shareholders to request a special general meeting under specific procedures[154]. - The company has a structured approach to identifying and addressing ESG issues through designated personnel[163]. - The company encourages shareholders to submit detailed contact information when raising inquiries to facilitate timely responses[158]. - The total greenhouse gas emissions decreased from 147 tons CO2 equivalent in 2020 to 87 tons CO2 equivalent in 2021, representing a reduction of approximately 40.8%[186]. - Scope 1 direct greenhouse gas emissions were recorded at 2 tons CO2 equivalent, while Scope 2 indirect emissions from purchased electricity were 81 tons CO2 equivalent, down from 108 tons in the previous year[186]. - The company has implemented measures to reduce gasoline consumption, including route planning and engine shutdown when vehicles are not in use[180]. - The density of greenhouse gas emissions per square meter decreased from 0.15 tons CO2 equivalent to 0.07 tons CO2 equivalent[186]. - The company reported no significant hazardous waste generated during the reporting period, focusing on the management of non-hazardous office waste[187]. - The company continues to promote the reduction of paper usage, encouraging electronic communication and reusing paper[185]. - Business air travel emissions were significantly reduced, contributing to the overall decrease in greenhouse gas emissions during the COVID-19 pandemic[185]. - The company is committed to complying with local environmental laws and regulations, with no significant violations reported[177]. - The office area as of March 31, 2021, was 1,216.8 square meters, which is used for calculating density metrics[190]. - The company actively engages stakeholders to improve environmental, social, and governance performance through various communication channels[170]. - Total energy consumption increased by approximately 4.6% in 2021 compared to 2020, reaching 226,488 kWh, primarily due to expanded operations and increased gasoline usage[196]. - Direct energy consumption from gasoline was recorded at 6,784 kWh, while indirect energy consumption from electricity was 219,704 kWh[197]. - Total harmless waste generated was 0.72 tons, with a density of 0.0006 tons per square meter[194]. - The company has implemented measures to reduce water usage and plans to install water purifiers to replace purchased distilled water in the near future[199]. - Employee awareness of energy conservation has improved due to the implementation of energy-saving measures[196]. - The company regularly checks faucets for leaks and promotes the importance of water conservation among employees[199]. - The density of energy consumption per building area decreased from 226 kWh/m² in 2020 to 186 kWh/m² in 2021[197]. - The company has not faced issues in obtaining suitable water sources due to the nature of its business[200]. - The total harmless waste disposal performance summary indicates that all waste was office paper[194]. - The company is committed to further reducing energy consumption through ongoing employee training and awareness initiatives[196].

Financial Performance - For the six months ended September 30, 2020, the company reported revenue of HKD 281,123,000, a decrease of 15.1% compared to HKD 331,230,000 for the same period in 2019[12]. - Gross profit for the same period was HKD 46,470,000, down 13.9% from HKD 54,073,000 in 2019[12]. - The company recorded a profit before tax of HKD 18,167,000, a decline of 30.2% from HKD 26,021,000 in the previous year[12]. - Net profit for the period was HKD 14,065,000, representing a decrease of 42.5% compared to HKD 24,360,000 in 2019[12]. - Basic earnings per share were HKD 0.18, down from HKD 0.44 in the same period last year[12]. - Total comprehensive income for the period was HKD 22,273,000, an increase from HKD 14,425,000 in 2019[15]. - The company reported a profit of HKD 21,076 thousand for the year, with a significant contribution from fair value changes in financial assets[31]. - The company reported a profit attributable to equity shareholders of approximately HKD 11.0 million for the six months ended September 30, 2020, down from HKD 21.1 million for the same period in 2019, representing a decrease of about 48.0%[149]. Revenue Breakdown - Revenue from the IT application and solution development segment increased to HKD 36,124,000, up from HKD 23,322,000, reflecting a growth of 55%[54]. - The IT infrastructure solution segment generated revenue of HKD 163,026,000, down from HKD 224,007,000, indicating a decline of 27.3%[54]. - Maintenance and support services revenue rose to HKD 69,512,000, compared to HKD 58,429,000, marking an increase of 18.1%[54]. - Revenue from the secondment services segment decreased significantly by approximately 51.1% to HKD 12.5 million, accounting for about 4.4% of total revenue[152]. Cash Flow and Liquidity - For the six months ended September 30, 2020, the operating cash flow was HKD 26,070 thousand, a significant improvement from the cash used in operations of HKD (13,348) thousand in the same period of 2019[35]. - The net cash generated from investing activities was HKD 1,199 thousand, compared to cash used of HKD (315) thousand in the previous year[35]. - The net cash generated from financing activities was HKD 19,143 thousand, a recovery from cash used of HKD (13,944) thousand in the prior year[35]. - As of September 30, 2020, the group's total current assets were approximately HKD 302.9 million, an increase from HKD 252.5 million as of March 31, 2020, with cash and cash equivalents amounting to approximately HKD 91.8 million[168]. - The group's liquidity ratio as of September 30, 2020, was approximately 2.7 times, compared to 2.5 times as of March 31, 2020[169]. Assets and Liabilities - The company's total assets less current liabilities increased to HKD 550,843,000 as of September 30, 2020, compared to HKD 471,656,000 as of March 31, 2020[21]. - Non-current assets as of September 30, 2020, totaled HKD 353,492,000, an increase from HKD 313,898,000 as of March 31, 2020, representing a growth of about 12.6%[67]. - The fair value of other financial assets as of September 30, 2020, was HKD 8,300,000, an increase from HKD 6,900,000 as of March 31, 2020[50]. - The company reported trade payables of HKD 72,261,000 as of September 30, 2020, an increase from HKD 63,941,000 as of March 31, 2020[107]. Employee and Management Costs - Employee costs, including directors' remuneration, decreased to HKD 53,367,000 for the six months ended September 30, 2020, from HKD 65,278,000 in the same period of 2019, a reduction of approximately 18.2%[71]. - The company reported a total management compensation of HKD 6,243,000 for the six months ended September 30, 2020, a decrease of 38% compared to HKD 10,126,000 in the same period of 2019[128]. Corporate Governance - The company adopted and complied with the corporate governance code as per the Hong Kong Stock Exchange listing rules, with deviations noted in sections A.2.1 and A.6.7[194]. - The board will continue to review corporate governance practices to enhance standards and meet increasing stakeholder expectations[195]. - The company is considering the feasibility of appointing a suitable candidate for the CEO position to comply with the corporate governance code[195]. Acquisitions and Investments - The company completed the acquisition of subsidiaries for a total consideration of 145 million Malaysian Ringgit, focusing on property development and an online-to-offline wholesale trading platform[104]. - The total consideration for the acquisition of PS International Company Limited was HKD 18,000,000, increasing the company's equity interest from 40% to 70%[131]. - The fair value of identifiable assets and liabilities acquired from the software technology group was assessed at HKD 34,379,000, with goodwill generated amounting to HKD 38,137,000[138]. Risks and Future Outlook - The company continues to face various risks and uncertainties, including the ongoing COVID-19 pandemic and escalating US-China tensions, which may adversely affect its business and financial condition[155]. - The management team will closely monitor operational and financial performance and explore opportunities to enhance financial performance and maintain sustainable growth amid a challenging market environment[155]. - The company is closely monitoring the impact of the COVID-19 pandemic on its operations and financial condition, implementing contingency measures as necessary[143].

Financial Performance - For the fiscal year 2020, the group recorded a net profit attributable to shareholders of approximately HKD 70 million, driven by significant revenue growth from the IT application and solution development segment [25]. - The fiscal year 2020 was marked by growth in both revenue and gross profit, attributed to management's efforts to improve operational efficiency [24]. - The group reported a revenue of approximately HKD 606.3 million for the fiscal year 2020, an increase of about HKD 10.8 million or 1.8% compared to the fiscal year 2019 [31]. - The pre-tax profit for the fiscal year 2020 was approximately HKD 83.0 million, down from HKD 96.9 million in the previous year [31]. - The net profit for the fiscal year 2020 was approximately HKD 77.3 million, down from HKD 93.2 million in 2019, mainly due to increased general and administrative expenses [48]. - Gross profit increased from approximately HKD 97.4 million in 2019 to about HKD 117.6 million in 2020, with the gross profit margin rising from approximately 16% to 19% [42]. Revenue Breakdown - Revenue from the IT application and solution development segment increased by 107% to approximately HKD 49.7 million, accounting for about 8% of total revenue [32]. - Revenue from the IT infrastructure solutions segment decreased by approximately 4% to HKD 408.8 million, representing about 67% of total revenue, primarily due to a one-time significant income of HKD 75.3 million recorded in the previous year [33]. - Revenue from the secondment services segment decreased by approximately 14% to HKD 39.7 million, accounting for about 7% of total revenue, due to reduced demand from major clients in the banking and financial sectors [35]. - Revenue from maintenance and support services increased by approximately 10% to HKD 108.1 million, representing about 18% of total revenue, attributed to the maintenance phase of large IT projects [36]. Cost Management - The group implemented strict cost control measures, which contributed to the enhancement of its core competitiveness and solidified its market position [24]. - General and administrative expenses rose to approximately HKD 89.9 million in 2020, a 40% increase from HKD 64.2 million in 2019, primarily due to increased employee costs [43]. Business Diversification - The company actively sought opportunities to diversify its business model following instability during the bidding process and past over-reliance on specific revenue sources [25]. - The acquisition of O2O Limited was completed on June 2, 2020, allowing the group to diversify its income sources through stable rental income from physical stores [38]. - The investment in a software technology company, which focuses on developing and managing food and beverage sales systems, has provided stable dividend income and contributed to the group's profit [37]. Financial Position - As of March 31, 2020, the group's shareholders' equity was approximately HKD 442.0 million, up from HKD 327.8 million in 2019 [50]. - The liquidity ratio as of March 31, 2020, was approximately 2.5 times, compared to 2.1 times in 2019 [51]. - The group had no bank loans outstanding as of March 31, 2020, and had unused bank financing of approximately HKD 56.8 million [51]. - The total issued share capital increased to approximately HKD 15,562,000 in 2020 from HKD 11,741,000 in 2019, with the number of issued ordinary shares rising from 4,696,505,221 to 6,225,393,129 [53]. - The group’s asset-liability ratio was approximately 4.2% as of March 31, 2020, down from 18% in 2019 [51]. - The group expects its financial position to steadily improve in the foreseeable future [39]. Corporate Governance - The company is committed to maintaining good corporate governance practices and has complied with the corporate governance code throughout the fiscal year [85]. - The board believes that its current structure supports effective operations and maintains a balance of power between the board and management [94]. - The company has not appointed a CEO since the removal of the previous CEO on April 22, 2020, which deviates from the corporate governance code [94]. - The company has established three committees: Audit Committee, Remuneration Committee, and Nomination Committee, to enhance corporate governance [120]. Environmental and Social Responsibility - The company emphasizes the importance of environmental and social sustainability as a foundation for long-term business development and success [160]. - The environmental, social, and governance (ESG) report is prepared in accordance with the Hong Kong Stock Exchange's guidelines, focusing on the group's core business and sustainable development practices [161]. - The total greenhouse gas emissions for the fiscal year ending March 31, 2020, amounted to 147 tons, an increase of 30% from 113 tons in 2019 [172]. - The company has implemented energy-saving measures to reduce greenhouse gas emissions, focusing on employee awareness and resource efficiency [177]. Employee Management - The employee turnover rate was reported at 42% for the fiscal year, indicating challenges in retaining talent [187]. - Employee costs for the fiscal year 2020 were approximately HKD 126.1 million, an increase from approximately HKD 117.3 million in 2019, reflecting a growth of about 6.8% [82]. - The company emphasizes the importance of employee development and regularly provides training to enhance skills and capabilities [192].

Financial Performance - Revenue for the six months ended September 30, 2019, was HKD 331,230,000, an increase of 36.8% compared to HKD 242,227,000 for the same period in 2018[4] - Gross profit for the same period was HKD 54,073,000, up from HKD 39,392,000, reflecting a gross margin improvement[4] - Profit before tax decreased to HKD 26,021,000 from HKD 86,505,000, indicating a decline of 69.9% year-over-year[4] - Net profit for the period was HKD 24,360,000, down 71.4% from HKD 84,957,000 in the previous year[7] - Basic earnings per share decreased to HKD 0.44 from HKD 1.85, a decline of 76.3%[4] - The company reported a total comprehensive income of HKD 14,425,000 for the period, down from HKD 74,531,000 in the previous year[7] - For the six months ended September 30, 2019, the total comprehensive income was HKD 14,425,000, a decrease of 35% compared to the previous period[17] Assets and Liabilities - Total assets as of September 30, 2019, were HKD 422,541,000, compared to HKD 392,820,000 as of March 31, 2019, showing an increase of 7.6%[9] - The net asset value increased to HKD 379,031,000 from HKD 339,886,000, representing an increase of 11.5%[9] - Cash and cash equivalents decreased to HKD 31,297,000 from HKD 52,980,000, a decline of 41.2%[9] - The total equity as of September 30, 2019, was HKD 379,031,000, reflecting a decrease of 80% from the previous period[17] - The total current liabilities increased by HKD 1,187 million due to the recognition of lease liabilities[40] Cash Flow - The net cash used in operating activities was HKD 13,348,000, compared to a net cash inflow of HKD 19,703,000 in the previous year[20] - The company’s operating cash flow was negative at HKD 13,348,000 for the period[20] - The company reported a net cash outflow from financing activities of HKD 13,944,000, compared to HKD 19,235,000 in the previous year[20] - The cash outflow from operating activities was HKD (7,424) thousand, compared to HKD 19,703 thousand in 2018[48] Revenue Segmentation - The total revenue for the six months ended September 30, 2019, was HKD 331,230,000, with a breakdown of HKD 82,501,000 from IT application and solution development, HKD 25,472,000 from secondment services, and HKD 58,429,000 from maintenance and support services[60] - Revenue from the IT application and solution development segment was approximately HKD 23.3 million, representing a 200% increase from HKD 7.8 million in the same period of 2018, contributing about 7.1% to total revenue[136] - Revenue from the IT infrastructure solution segment was approximately HKD 224.0 million, a 45% increase from HKD 154.1 million in the same period of 2018, accounting for about 67.6% of total revenue[137] - Revenue from the secondment services segment was approximately HKD 25.5 million, a slight decrease of about 2% from HKD 26.1 million in the same period of 2018, representing about 7.7% of total revenue[140] - Revenue from maintenance and support services was approximately HKD 58.4 million, an 8% increase from HKD 54.3 million in the same period of 2018, contributing about 17.6% to total revenue[141] Accounting Standards and Reporting - The company adopted the new Hong Kong Financial Reporting Standard 16 for leases, which may impact future financial reporting[25] - The company adopted HKFRS 16, resulting in the capitalization of leases previously classified as operating leases, with a recognized lease liability of HKD 1,304 million as of April 1, 2019[30] - The impact of adopting HKFRS 16 on the consolidated balance sheet included an increase in property, plant, and equipment from HKD 47,935 million to HKD 49,356 million[40] - The group’s cash flow statement showed significant changes due to the adoption of HKFRS 16, affecting the classification of cash flows[43] Shareholder Information - The weighted average number of ordinary shares (diluted) as of September 30, 2019, was 5,268,402,054, compared to 4,818,979,339 for the previous period[90] - The company had 5,234,455,169 ordinary shares issued and fully paid as of September 30, 2019, compared to 4,696,505,221 shares as of March 31, 2019[117] - The company issued 172,811,060 new shares for the acquisition of software technology on September 11, 2019[161] - The company issued 365,138,888 new shares upon conversion of convertible bonds related to the acquisition of CKB on August 27, 2019[161] Future Outlook and Strategy - The company is focusing on expanding its market presence and developing new products to drive future growth[4] - The group plans to expand its sales channels and customer base despite facing risks from the US-China trade war and social unrest in Hong Kong[142] - The group may consider investing in other businesses to enhance financial performance and broaden income sources within acceptable risk levels[142] - The company plans to issue convertible bonds and promissory notes totaling approximately HKD 98.67 million as part of the acquisition deposit for a subsidiary[128] Employee and Operational Costs - Employee costs, including director remuneration, amounted to HKD 65,278,000, an increase from HKD 61,200,000 in the previous year[78] - The group reported a mid-year employee cost of approximately HKD 65.3 million, compared to HKD 61.2 million in the same period of 2018[179] - General and administrative expenses increased to approximately HKD 44.7 million, a rise of about HKD 16.6 million or 59% compared to the mid-2018 period, primarily due to increased employee costs[146] Governance and Compliance - The audit committee reviewed the unaudited condensed consolidated financial statements for the six months ended September 30, 2019, confirming compliance with applicable accounting standards and listing rules[193] - The company has established an audit committee consisting of three independent non-executive directors, ensuring proper governance and oversight[193] - The board has adopted corporate governance practices in compliance with the Stock Exchange's listing rules, although there are deviations regarding the roles of the chairman and CEO[182]

Financial Performance - The company reported a net profit attributable to shareholders of approximately HKD 84 million for the fiscal year ending March 31, 2019, marking a turnaround from previous losses [24]. - The group's revenue for the fiscal year 2019 was approximately HKD 595.5 million, an increase of about HKD 185.5 million or 45% compared to the fiscal year 2018 [41]. - The gross profit increased from approximately HKD 48.7 million in fiscal year 2018 to about HKD 97.4 million in fiscal year 2019, nearly doubling, with the gross margin rising from about 12% to approximately 16% [42]. - The group recorded a profit before tax of approximately HKD 96.9 million in fiscal year 2019, compared to a loss of about HKD 5.6 million in fiscal year 2018 [41]. - The group recorded a net profit of approximately HKD 93.2 million in the fiscal year 2019, a turnaround from a net loss of HKD 7.1 million in the previous fiscal year, driven by a gross profit increase of approximately HKD 48.7 million [47]. Revenue Sources and Growth - Revenue growth was primarily driven by a significant increase in the information technology infrastructure solutions segment and income from long-term maintenance phases of several large projects [25]. - Revenue from the IT infrastructure solutions segment increased by approximately HKD 164.3 million, while revenue from maintenance and support services rose by about HKD 38.1 million [41]. - The IT infrastructure solutions segment accounted for approximately 72% of the total revenue in fiscal year 2019, with revenue rising from about HKD 262.8 million in fiscal year 2018 to approximately HKD 427.0 million, an increase of about 63% [39]. - The maintenance and support services segment generated revenue of approximately HKD 98.4 million, accounting for about 16% of total revenue, a significant increase of about 63% from HKD 60.3 million in fiscal year 2018 [39]. - The group expects stable revenue contributions exceeding HKD 60 million annually from maintenance contracts related to large IT projects, which will continue until 2027 [39]. Acquisitions and Investments - The company completed the acquisition of O2O Limited, which is developing an e-market project combining physical stores and online platforms, expected to enhance revenue sources starting in 2020 [30]. - The acquisition of a 40% stake in Software Technology Limited, which focuses on developing and managing food and beverage sales systems, will provide a stable income stream starting from the fiscal year 2019 [30]. - The acquisition of 15% stake in INAX Technology Limited was completed for HKD 66 million, with a fair value of approximately HKD 37.8 million as of March 31, 2019, representing a 43% decrease from its cost and accounting for about 7% of the group's total assets [54]. - The investment in Software Technology Limited, acquired for HKD 60 million, has a carrying value of approximately HKD 62.5 million as of March 31, 2019, accounting for about 12% of the group's total assets [57]. Cost Management and Efficiency - The workforce was reduced from 283 employees as of March 31, 2018, to 187 employees as of March 31, 2019, indicating improved efficiency and performance [31]. - The restructuring efforts have led to significant cost reductions and efficiency improvements, contributing to the overall profitability [31]. - The group successfully reduced employee costs by HKD 23.9 million in fiscal year 2019, maintaining a sustainable team size and effectively monitoring its cost structure [39]. - Administrative expenses for the fiscal year 2019 were approximately HKD 64.2 million, an increase of about HKD 7.6 million or 13% compared to HKD 56.6 million in 2018, primarily due to increased employee costs [43]. Corporate Governance - The board of directors is committed to maintaining good corporate governance practices and has complied with the corporate governance code as per the Hong Kong Stock Exchange [70]. - The company has adopted a board diversity policy, focusing on measurable goals related to gender, age, race, knowledge, and tenure [81]. - The audit committee held two meetings during the fiscal year ending March 31, 2019, to review quarterly, interim, and annual financial statements, focusing on compliance with accounting standards and listing rules [101]. - The company has established a nomination policy outlining the selection criteria and procedures for nominating director candidates [111]. - The company has implemented internal controls to prevent unauthorized use or misappropriation of assets, maintaining proper accounting records [122]. Environmental and Social Responsibility - The total greenhouse gas emissions for the fiscal year ending March 31, 2019, were 113 tons, a decrease from 148 tons in 2018, representing a reduction of approximately 23.6% [146]. - The company aims to implement energy-saving measures to further reduce greenhouse gas emissions and electricity usage in the future [149]. - The group has engaged in community investment through charitable donations and social responsibility activities in the fiscal year ending March 31, 2019 [167]. - The group has committed to maintaining a diverse and equal opportunity work environment, with no significant legal violations reported in the fiscal year ending March 31, 2019 [152]. Risks and Challenges - The company relies on project-based contracts, which introduces uncertainty in future revenue sources, as clients may not continue to engage the company for new projects after current ones are completed [192]. - The company faces risks related to project overruns and delays, which could lead to significant adverse effects on business, financial condition, and operational performance [186]. - Adverse foreign exchange rate fluctuations could negatively affect the company's financial performance, particularly for projects located in Malaysia [194]. - The company acknowledges the potential for cost overruns in IT application and solution development projects, which may lead to lower project profitability or losses [186].