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 份 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。 AP RENTALS HOLDINGS LIMITED 亞積邦租賃控股有限公司* （於開曼群島註冊成立的有限公司） （股份代號：1496） 截 至2025年3月31日 止 年 度 年 度 業 績 公 告 | 集 | 團 | 財 | 務 | 摘 | 要 | | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | | | | | 截 至3月31日 | | | | | | 止 年 度 | | | | | | | | ...

Financial Performance - Total revenue for the six months ended September 30, 2024, was HK$80,713,000, an increase of 2.3% compared to HK$78,859,000 for the same period in 2023[27]. - Gross profit for the period was HK$23,700,000, up from HK$21,019,000, reflecting a gross profit margin improvement[27]. - Profit for the period reached HK$4,644,000, with earnings per share at HK$0.54[27]. - The company reported a gross profit increase of approximately 12.8% year-over-year[27]. - The Group recorded a profit attributable to owners of approximately HK$4.6 million for 1H2025, representing a profit margin of approximately 5.8%, an increase from approximately 5.2% in 1H2024[69]. - Total comprehensive income for 1H2025 was approximately HK$4.9 million, compared to approximately HK$3.2 million in 1H2024, reflecting a significant increase[69]. - Gross profit increased by approximately 12.8% from approximately HK$21.0 million in 1H2024 to approximately HK$23.7 million in 1H2025, with a gross profit margin of approximately 29.4%[78]. - The Group's total revenue for the six months ended September 30, 2023, was HK$78,859,000, with segment results of HK$15,485,000 from leasing and HK$2,038,000 from trading[130]. - Total external revenue for the six months ended September 30, 2024, was HK$80,713,000, an increase of 2.2% from HK$78,859,000 in the same period of 2023[141]. Assets and Liabilities - Non-current liabilities decreased slightly to HK$21,991,000 as of September 30, 2024, compared to HK$22,112,000 as of March 31, 2024[5]. - Net assets stood at HK$228,069,000 as of September 30, 2024, a slight decrease from HK$228,306,000 as of March 31, 2024[5]. - As of September 30, 2024, total assets amounted to HK$250,060,000, slightly down from HK$250,418,000 as of March 31, 2024[31]. - Current assets totaled HK$167,219,000, an increase from HK$165,299,000 in the previous period[31]. - Total liabilities were HK$94,695,000, compared to HK$89,008,000 previously[31]. - The Group's cash balances and cash equivalents as of 30 September 2024 were approximately HK$91.1 million, down from approximately HK$93.7 million as of 31 March 2024[91]. - As of 30 September 2024, the Group had borrowings and lease liabilities of approximately HK$51.2 million, an increase from approximately HK$42.7 million as of 31 March 2024[91]. - The Group's banking facilities as of 30 September 2024 were approximately HK$80.4 million, with approximately HK$69.9 million drawn down[92]. Income and Expenses - Administrative expenses for the period were HK$20,231,000, compared to HK$19,911,000 in the previous year[27]. - Capital expenditures in 1H2025 totaled approximately HK$27.6 million, primarily for leasing machinery, vehicles, and office equipment, with 91.1% allocated to expanding the rental fleet[70]. - Finance costs rose to approximately HK$0.9 million in 1H2025, compared to approximately HK$0.8 million in 1H2024, due to increased borrowings[68]. - The Group's expected credit loss provision increased to approximately HK$0.9 million in 1H2025, compared to a reversal of approximately HK$2.0 million in 1H2024[63]. - The Group shared a loss of approximately HK$14.0 thousand from the joint venture WAJV in 1H2025, a decrease from approximately HK$0.8 million in 1H2024[67]. - The Group's total profit for the period was achieved after charging directors' emoluments of HK$4,676,000, up from HK$3,940,000 in the previous year, an increase of 18.7%[169]. - The company reported a decrease in auditor's remuneration to HK$881,000 for the first half of 2024, down from HK$986,000 in 2023, a decline of 10.7%[169]. Revenue Breakdown - The geographical revenue breakdown shows Hong Kong generated HK$67,912,000, while Macau contributed HK$45,000, and Singapore accounted for HK$13,000[111]. - Revenue from Hong Kong decreased to HK$71,479,000, down 1.2% from HK$72,381,000 in 2023[141]. - Revenue from Singapore increased significantly to HK$6,579,000, up 52.5% from HK$4,318,000 in 2023[141]. - The Group's leasing segment reported a profit of HK$20,809,000, while the trading segment incurred a loss of HK$598,000, resulting in a total segment profit of HK$20,211,000[124]. - The Group's leasing income from equipment for the six months ended September 30, 2024, was HK$77,087,000, compared to HK$67,781,000 for the same period in 2023, reflecting a growth of approximately 13.5%[124][130]. Shareholder Information - Major shareholders include New Club House 1 with 42.08% and Great Club House with 32.92% of shares[39]. - The company declared an interim dividend of HK$0.16 per share for the reporting period, totaling HK$1,382,400, compared to no interim dividend in the first half of 2024[172]. - The weighted average number of ordinary shares remained constant at 864,000,000 for both periods, indicating stable share structure[169]. Governance and Risk Management - The company aims to enhance corporate governance and risk management practices, with a new appointment to the risk management committee on October 19, 2024[50][52]. Credit and Receivables - The average credit period for leasing and trading customers is between 0 to 90 days, with credit limits reviewed annually[188]. - As of September 30, 2024, the total lease and trade receivables, net of credit loss allowance, amounted to HK$39,504,000, an increase from HK$38,386,000 as of March 31, 2024[190]. - Lease receivables from outsiders increased to HK$53,193,000 as of 30 September 2024, up from HK$50,891,000 as of 31 March 2024, marking a rise of 4.3%[184]. - The allowance for expected credit losses on lease receivables increased to HK$15,889,000 as of 30 September 2024, compared to HK$15,036,000 as of 31 March 2024, indicating a rise of 5.7%[184]. Cash Flow - Net cash from operating activities for the six months ended September 30, 2024, was HK$19,484,000, a decrease of 16.4% from HK$23,278,000 in the same period of 2023[98]. - Net cash used in investing activities amounted to HK$23,424,000, compared to HK$9,154,000 in the previous year, indicating a significant increase in investment outflows[98]. - The net increase in cash and cash equivalents was HK$1,545,000, compared to a net increase of HK$4,759,000 in the prior year[98]. - Interest received increased to HK$1,748,000 from HK$1,106,000, reflecting a growth of 58%[98]. - New borrowings raised during the period totaled HK$17,798,000, while repayments of borrowings were HK$7,849,000[98]. - The effect of foreign exchange rate changes resulted in a positive impact of HK$93,661,000 on cash and cash equivalents[98].

Capital Expenditure - The capital expenditure for the fiscal year 2024 is approximately HKD 30.4 million, not HKD 35.2 million[2] - The total capital expenditure for the fiscal year 2024 is approximately 98.1% attributed to the purchase of rental machinery and trucks, rather than 98.3%[2] Cost of Sales and Services - The cost of sales and services for the fiscal year 2024 related to the purchase of rental equipment is approximately HKD 28.0 million, instead of HKD 32.8 million[7]

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 份 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。 AP RENTALS HOLDINGS LIMITED 亞積邦租賃控股有限公司* （於開曼群島註冊成立的有限公司） （股份代號：1496） 截 至2024年3月31日 止 年 度 年 度 業 績 公 告 | 集 | 團 | 財 | 務 | | 要 | | | | | | | | | | | | 摘 | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | ...

Financial Performance - Total revenue for the six months ended September 30, 2023, was HK$78,859,000, a decrease of 5.1% from HK$83,557,000 in the same period of 2022[9] - Gross profit for the period was HK$21,019,000, down 21.3% from HK$26,685,000 year-on-year[9] - Profit for the period was HK$4,065,000, representing a decline of 44.5% compared to HK$7,367,000 in the previous year[9] - Earnings per share decreased to HK$0.47 from HK$0.85, reflecting a drop of 44.7%[9] - The company reported other comprehensive income for the period of HK$3,201,000, down from HK$5,842,000, a decrease of 45.1%[9] - The profit for the period ended September 30, 2023, was HK$4,065,000, compared to HK$7,367,000 for the same period in 2022, representing a decline of 44.5%[13] - The Group's profit before tax for the six months ended September 30, 2023, was HK$5,413,000, down from HK$7,534,000 in the previous year[40] - Total profit for the period attributable to owners of the Company decreased to HK$4,065,000 from HK$7,367,000, a decline of approximately 44.5%[70] - For the six months ended 30 September 2023, the Group recorded a net profit of approximately HK$4.1 million, a decrease of approximately 44.6% compared to HK$7.4 million for the same period in 2022[111] Assets and Liabilities - Non-current assets as of September 30, 2023, totaled HK$186,407,000, down from HK$198,027,000 as of March 31, 2023[10] - Current assets increased to HK$136,178,000 from HK$129,860,000, marking a rise of 4.9%[10] - Net current assets improved to HK$60,531,000, up from HK$54,182,000, indicating a growth of 11.8%[10] - As of September 30, 2023, the net assets of the company were HK$221,743,000, a decrease of 1.85% from HK$224,158,000 as of March 31, 2023[11] - The total equity of the company decreased from HK$224,158,000 as of March 31, 2023, to HK$221,743,000 as of September 30, 2023, reflecting a reduction of 1.85%[13] - Borrowings as of September 30, 2023, amounted to HK$841,000, a decrease from HK$1,848,000 as of March 31, 2023[11] - As of September 30, 2023, the carrying value of property, plant, and equipment is HK$173,804,000, a decrease from HK$187,121,000 as of April 1, 2023, representing a decline of approximately 7.1%[76] - The total borrowings amounted to HK$34,111,000, an increase from HK$31,115,000 as of March 31, 2023, representing a growth of approximately 9.6%[98] Revenue Breakdown - For the six months ended September 30, 2023, the Group's total revenue was HK$78,859,000, with leasing revenue accounting for HK$67,781,000 and trading revenue at HK$11,078,000[27] - Revenue from Hong Kong was HK$72,381,000, with HK$61,774,000 from leasing and HK$10,607,000 from trading[27] - The Group's revenue for the same period in 2022 was HK$84,557,000, indicating a decrease of approximately 6.7% year-over-year[33] - Segment revenue from leasing was HK$67,781,000, while trading segment revenue was HK$11,078,000 for the six months ended September 30, 2023[40] - Revenue from external customers in Hong Kong was HK$72,381,000, a decrease of 7.3% from HK$77,911,000 in 2022[50] - Leasing income from rental services decreased to approximately HK$52.0 million in 1H2024, down from approximately HK$58.3 million in 1H2023[138] - Revenue from equipment operating services increased by approximately 20.4% to approximately HK$10.5 million in 1H2024, up from approximately HK$8.7 million in 1H2023[140] Expenses and Costs - Administrative expenses rose to HK$19,911,000, compared to HK$17,780,000 in the previous period, an increase of 12.0%[9] - Total staff costs rose to HK$28,887,000 from HK$26,358,000, representing an increase of about 9.7%[66] - The Group's cost of sales and services increased by approximately 1.7% to about HK$57.8 million in 1H2024, up from approximately HK$56.9 million in 1H2023[147] - Depreciation costs decreased to approximately HK$22.8 million in 1H2024 from approximately HK$25.5 million in 1H2023[148] - Selling and distribution expenses rose to approximately HK$0.4 million in 1H2024 from approximately HK$0.3 million in 1H2023, attributed to the promotion of the "green energy" concept[162] Cash Flow and Investments - Net cash from operating activities for the six months ended September 30, 2023, was HK$23,278,000, down from HK$27,837,000 in the previous year, indicating a decrease of 16.5%[15] - Cash and cash equivalents at the end of the period increased to HK$78,741,000 from HK$54,614,000, marking a significant increase of 44.2%[15] - The company reported a net cash used in investing activities of HK$9,154,000 for the six months ended September 30, 2023, compared to HK$18,262,000 in the prior year, showing a decrease of 49.9%[15] - Capital expenditures for 1H2024 amounted to approximately HK$17.0 million, primarily for leasing machinery, vehicles, and office equipment, compared to approximately HK$44.7 million for the year ended 31 March 2023[170] Market and Operational Insights - The Group experienced a significant decrease in equipment leasing demands in Hong Kong, particularly in the Kai Tak Area and Community Isolated Facilities[119] - In Macau, leasing revenue decreased due to reduced demand from private construction sites, although public work-related construction sites saw an increase in demand[122] - In Singapore, AP Singapore recorded an increase in revenues due to the continued growth of the construction industry, attributed to the booming economy[123] - The Group plans to expedite investment in mobile power supplies and related services in 2H2024, focusing on green energy solutions[129] - The Group intends to maintain revenue growth in Singapore and may consider further investments in leasing equipment to meet increasing demands[131] Employee and Corporate Governance - The Group employed 130 employees as of September 30, 2023, an increase from 127 employees as of March 31, 2023[200] - The remuneration policy for employees is regularly reviewed, and the Group provides additional benefits such as medical insurance and contributions to provident funds[200]

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份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。 AP RENTALS HOLDINGS LIMITED 亞 積 邦 租 賃 控 股 有 限 公 司* （於開曼群島註冊成立的有限公司） （股份代號：1496） 截 至2023年9月30日 止 六 個 月 中 期 業 績 公 告 集團財務摘要 截至9月30日止六個月 2023年 2022年 千港元 千港元 （未經審核） （未經審核） 收益 78,859 83,557 毛利 21,019 26,685 期內溢利 4,065 7,367 溢利率 5.2% 8.8% 期內全面收益總額 3,201 5,842 每股盈利 基本（港仙） 0.47 0.85 ...

Financial Performance - For FY2023, the Group achieved total revenue of approximately HK$160.6 million, an increase of approximately 19.1% compared to HK$134.8 million in FY2022[21] - The Group recorded a profit of approximately HK$12.8 million for FY2023, a significant turnaround from a loss of approximately HK$4.5 million in FY2022[21] - Gross profit for FY2023 was approximately HK$45.0 million, representing an increase of approximately 118.6% compared to approximately HK$20.6 million in FY2022[41] - The gross profit margin improved to approximately 28.0% in FY2023, up from approximately 15.3% in FY2022[41] - For FY2023, the Group recorded a profit attributable to owners of the Company of approximately HK$12.8 million, compared to a loss of approximately HK$4.5 million in FY2022, representing a profit margin of approximately 8.0%[103] - Earnings per share improved to HK$1.48, compared to a loss of HK$0.52 per share in the previous year[149] - The return on equity increased to 5.7%, up from a negative 2.1% in 2022[160] - Current ratio improved to 1.7, compared to 1.5 in the previous year, indicating better short-term financial health[161] Revenue Sources - Leasing income from rental services rose to approximately HK$111.9 million in FY2023, up from approximately HK$97.4 million in FY2022[71] - Revenue from equipment operating services increased by approximately 42.1% to approximately HK$17.6 million in FY2023, compared to approximately HK$12.4 million in FY2022[73] - Revenue from the trading business increased to approximately HK$20.5 million in FY2023, up from approximately HK$17.8 million in FY2022[49] - Revenue from sales of machinery and parts grew by approximately 15.4% to about HK$20.5 million in FY2023, up from HK$17.8 million in FY2022[79] - Revenue from AP Macau decreased to approximately HK$4.0 million in FY2023, down from approximately HK$7.0 million in FY2022, due to reduced demand in the casino and hotel sectors[50] Economic Environment - The economic environment in FY2023 was impacted by factors such as the COVID-19 pandemic, the default of debts by major property developers, and rising interest rates due to the Federal Reserve's actions[22] - The construction and event industries faced challenges due to the aforementioned economic pressures, affecting overall business performance[22] - The Group has faced challenges such as difficulty in attracting young talent, increased construction material costs due to the Russia-Ukraine conflict, and ongoing interest rate hikes affecting the operating environment[184] Strategic Focus - The Group is focused on expanding its market presence and enhancing its service offerings to meet customer demands[6] - Future strategies may include exploring new technologies and solutions to improve operational efficiency and customer satisfaction[6] - The Group aims to provide comprehensive solutions for carbon reduction, including the use of bio-fuel with Battery Energy Storage Systems in its Smart System[29] - The promotion of green solutions, such as bio-fuel applications, is a key strategy for the Group's future operations[29] - The Group is committed to becoming a leader in advanced technology applications and providing cost-effective solutions, focusing on data-driven decarbonization and energy efficiency[177] Investments and Expenditures - The Group's capital expenditures for FY2023 amounted to approximately HK$44.7 million, a decrease from approximately HK$66.3 million in FY2022, with 98.6% allocated to expanding the leasing fleet and motor vehicles[104] - The Group plans to invest in mobile power supplies and related services in FY2024, focusing on environmental protection and social responsibility[57] - As of March 31, 2023, the Group had capital commitments of approximately HK$13.1 million, down from approximately HK$22.5 million as of March 31, 2022, for acquiring leasing equipment[123][130] Employee and Operational Insights - Staff costs rose to approximately HK$56.9 million in FY2023, compared to approximately HK$51.3 million in FY2022, primarily due to wage increases and annual salary increments[40] - The Group's employee count decreased to 127 as of March 31, 2023, from 130 as of March 31, 2022, with a reduction in Hong Kong-based employees[133][137] - The Group's technical staff participate in training seminars to enhance their skills and knowledge related to equipment operation and safety[134] Dividends and Shareholder Returns - A final dividend of HK$0.65 per share has been recommended for FY2023, compared to no dividend in FY2022[36] - The Group plans to adopt prudent financial management and explore suitable business opportunities to maximize shareholder returns[34] Government and Market Outlook - The annual construction volume in Hong Kong is expected to grow to approximately HK$300 billion yearly in the coming years, driven by government developmental plans[28] - The Hong Kong government projects strong construction demand, with initiatives like light public housing expected to be completed by 2027[63] - In Singapore, total construction demand is projected to range between approximately S$27.0 billion to S$32.0 billion in 2023, with the public sector contributing about 60%[65]

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份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。 AP RENTALS HOLDINGS LIMITED 亞 積 邦 租 賃 控 股 有 限 公 司* （於開曼群島註冊成立的有限公司） （股份代號：1496） 截 至2023年3月31日 止 年 度 年 度 業 績 公 告 集團財務摘要 截至3月31日止年度 2023年 2022年 千港元 千港元 百分比變動 收益 160,552 134,798 19.1% 毛利 45,019 20,593 118.6% 本年度溢利（虧損） 12,776 (4,455) 不適用 每股盈利（虧損） 基本（港仙） 1.48 (0.52) 毛利率 28.0% 15.3% 溢利（虧損）率 8.0% (3.3%) ...

Financial Performance - Total revenue for the six months ended September 30, 2022, was HK$83,557,000, an increase from HK$68,486,000 in the same period of 2021, representing a growth of approximately 22%[10] - Gross profit for the period was HK$26,685,000, with a cost of sales amounting to HK$56,872,000[10] - Profit before tax was reported at HK$7,534,000, compared to a loss in the previous period[10] - Basic earnings per share for the period was 0.85 HK cents, reflecting a positive performance compared to the previous period[10] - The total comprehensive income for the period was HK$5,842,000, which includes exchange differences arising from the translation of foreign operations[10] - The company reported a profit for the period of HK$7,367,000, contributing to total comprehensive income of HK$5,842,000 for the six months ended September 30, 2022[19] - The Group recorded a net profit of approximately HK$7.4 million for the six months ended 30 September 2022, a significant increase from approximately HK$0.1 million in the same period last year[164] - Profit attributable to owners of the Company was approximately HK$7.4 million in 1H2023, a substantial increase from HK$0.1 million in 1H2022[172] Revenue Breakdown - Total revenue for the six months ended September 30, 2022, was HK$83,557,000, with leasing revenue contributing HK$72,385,000 and trading revenue contributing HK$11,172,000[51] - Revenue from external customers for leasing increased from HK$54,747,000 in the previous year to HK$72,385,000, representing a growth of approximately 32%[61] - The Group's external revenue for the six months ended 30 September 2022 was HK$83,557,000, an increase of 22% compared to HK$68,486,000 for the same period in 2021[72] - Revenue from Hong Kong increased to HK$77,911,000 in 2022 from HK$62,039,000 in 2021, representing a growth of 25.6%[72] - The Group earned approximately HK$58,249,000 from leasing machinery during the period, down from approximately HK$97,436,000 for the year ended 31 March 2022[160] - For 1H2023, the Group recorded revenue of approximately HK$83.6 million, representing an increase of approximately 22.0% compared to HK$68.5 million for 1H2022[172] - Leasing income from equipment rose to approximately HK$58.3 million in 1H2023, up from approximately HK$46.5 million in 1H2022, reflecting a significant increase in demand from construction projects[192][196] Expenses and Costs - Administrative expenses were reported at HK$8,622,000, while selling and distribution expenses were HK$17,780,000[10] - The company incurred finance costs of HK$682,000 during the period[10] - Total staff costs increased to HK$26,358,000 for the six months ended 30 September 2022, up from HK$22,341,000 in 2021, representing an increase of approximately 18.0%[89] - The cost of inventories recognized as expenses decreased to HK$4,234,000 in 2022 from HK$9,289,000 in 2021, a reduction of about 54.4%[89] Assets and Liabilities - As of September 30, 2022, total assets amounted to HK$244,130,000, an increase from HK$239,555,000 as of March 31, 2022, reflecting a growth of approximately 2.4%[15] - Net current assets increased to HK$38,400,000 from HK$36,233,000, representing a growth of about 5.9%[15] - Total equity as of September 30, 2022, was HK$218,101,000, up from HK$212,259,000 as of March 31, 2022, indicating an increase of approximately 2.6%[15] - Current liabilities decreased to HK$74,338,000 from HK$79,115,000, showing a reduction of about 6.5%[15] - The company’s borrowings due within one year decreased to HK$22,569,000 from HK$25,213,000, a reduction of approximately 10.4%[15] Cash Flow - Net cash from operating activities increased to HK$27,837,000 in 2022 from HK$19,996,000 in 2021, representing a growth of approximately 39%[27] - Net cash used in investing activities was HK$(18,262,000) in 2022, compared to HK$(1,875,000) in 2021, indicating a significant increase in cash outflow[27] - The net cash used in financing activities was HK$(9,906,000), indicating a higher cash outflow compared to the previous period[27] - Cash and cash equivalents at the end of the period decreased to HK$54,614,000 from HK$60,057,000, reflecting a decline of approximately 9%[27] Strategic Focus and Market Conditions - The interim report indicates a strategic focus on expanding leasing services and improving operational efficiency[10] - The Group's strategic focus includes expanding its leasing and trading segments to enhance overall revenue growth and market presence[49] - The Group aims to enhance its service professionalism and increase revenue through the Smart System in Mobile Electricity concept[175] - The introduction of 30,000 new "Light Public Housing" units in Hong Kong over the next five years is expected to drive increased demand for construction works[186][187] Impairment and Losses - The company recognized impairment losses of HK$1,786,000 on property, plant, and equipment[10] - Impairment losses recognized on lease receivables and trade receivables amounted to HK$8,622,000, with HK$8,335,000 attributed to lease receivables[65] - Impairment losses under the expected credit loss model increased to approximately HK$8.6 million in 1H2023, up from a reversal of approximately HK$0.2 million in 1H2022, due to higher expected default risks[167] Government Support - The Group recognized government subsidies of HK$2,603,000 to support employment during the Covid-19 pandemic[77] - The Group received government subsidies of approximately HK$2.1 million from Hong Kong and approximately HK$0.5 million from Macau related to the Covid-19 pandemic in 1H2023, compared to nil in 1H2022[166]

Financial Performance - For FY2022, the Group reported total revenue of approximately HK$134.8 million, a decrease of approximately 9.2% compared to HK$148.5 million in FY2021[24]. - The Group's loss for FY2022 was approximately HK$4.5 million, down from a loss of approximately HK$5.7 million in FY2021[24]. - Revenue for FY2022 was approximately HK$134.8 million, representing a decrease of about 9.2% compared to approximately HK$148.5 million in FY2021[47]. - The Group recorded a loss of approximately HK$4.5 million for FY2022, a decrease from a loss of approximately HK$5.7 million in FY2021, primarily due to increased impairment losses under the expected credit loss model[45]. - Basic loss per share attributable to owners of the Company for FY2022 was HK$0.52 cents, down from HK$0.66 cents in FY2021[47]. - The Group's total equity as of 31 March 2022 was HK$212.3 million, a decrease from HK$216.1 million in FY2021[107]. - The Group's current ratio as of 31 March 2022 was 1.48, indicating a decrease from 1.83 in FY2021, reflecting a tighter liquidity position[107]. - The Group reported a loss attributable to owners of approximately HK$4.46 million for the fiscal year ended March 31, 2022[112]. - Earnings per share for the year were reported at a loss of HK$0.52, compared to a loss of HK$0.66 in the previous year[112]. Revenue Breakdown - Rental income from equipment decreased to approximately HK$97.4 million in FY2022, down from approximately HK$101.9 million in FY2021, accounting for approximately 72.3% of the Group's total revenue[72]. - Revenue from trading business decreased to approximately HK$17.8 million in FY2022, down from approximately HK$27.5 million in FY2021, as the Group focused more on equipment disposal[52]. - The Group's other service income increased to approximately HK$7.2 million in FY2022 from approximately HK$6.3 million in FY2021, representing about 5.4% of total revenue[74]. - Revenue from sales of machinery and parts decreased by approximately 35.5% from approximately HK$27.5 million in FY2021 to approximately HK$17.8 million in FY2022[75]. Cost and Expenses - Administrative expenses increased to approximately HK$34.1 million in FY2022, up from approximately HK$31.4 million in FY2021, mainly due to hiring more management staff and increased compliance costs[45]. - The Group's cost of sales and services amounted to approximately HK$114.2 million in FY2022, a decrease of approximately 12.1% from approximately HK$130.0 million in FY2021[76]. - Staff costs under the cost of sales and services increased by approximately HK$2.4 million due to hiring more technician staff[79]. - Other income decreased significantly by approximately 88.1%, from HK$6.6 million in FY2021 to HK$0.8 million in FY2022, primarily due to a reduction in government subsidies received[83]. Market Conditions - The overall market sentiment in the construction industry in Hong Kong remained poor due to the Covid-19 pandemic, impacting operational days at customer work sites[25]. - In the PRC, the construction industry remains affected by the debt crisis and Covid-19, prompting the Group to increase the disposal of low-utilization equipment and tighten credit control over customers[37]. - The Group anticipates no material improvement in leasing equipment demand in the PRC for FY2023 due to ongoing debt crises and the impact of Covid-19[65]. - Factors causing potential market weakness include economic recession due to the Covid-19 outbreak in Hong Kong since January 2022, increased construction material costs from the Russia-Ukraine conflict, and adverse changes in government infrastructure spending[137]. Investment and Future Plans - The Group plans to continue investing in advanced machines and solutions related to environmental protection and social responsibilities in FY2023[39]. - The Group plans to increase machinery sales and equipment disposal efforts in FY2023 to enhance revenues and cash inflow[64]. - Investment in e-commerce will be increased to support the growth of the trading business, aiming to generate more funds for advanced machines and new products[64]. - The Group aims to provide comprehensive solutions for customers in equipment usage, addressing both leasing and related services as well as environmental concerns in FY2023[39]. Corporate Governance and Share Options - The Group does not recommend the payment of a final dividend for the year ended 31 March 2022[40]. - The Share Option Scheme was adopted on 17 March 2016, but no share options have been granted or agreed to be granted up to 31 March 2022[151]. - The maximum number of shares available for issue under the Share Option Scheme must not exceed 30% of the issued share capital of the Company at any time[162]. - The Share Option Scheme aims to motivate participants to optimize their performance for the benefit of the Group[156]. Employee and Staffing - As of March 31, 2022, the Group employed a total of 130 employees, an increase from 116 employees in the previous year[199]. - For the year ended March 31, 2022, the staff costs amounted to approximately HK$51.3 million, compared to approximately HK$45.9 million in FY2021, reflecting an increase of about 9.3%[199]. - The remuneration policy for employees is determined by the Board based on performance, qualifications, competence, and job nature[199].