Group 1: Digital Currency Market - The Hong Kong digital currency sector remains active, with Lianlian Digital surging over 60% and Okex Chain rising by 41.21% [1] - The Hong Kong government has officially implemented the Stablecoin Regulation, enhancing the regulatory framework for digital assets [1] Group 2: Quantum Communication - A Chinese research team has proposed a new theoretical framework for long-distance scalable quantum direct communication, achieving a 300-kilometer quantum communication network [2] - The experiment demonstrated a fidelity of over 85% in shared quantum states among nodes, confirming the reliability of the communication method [2] Group 3: Brain-Computer Interface - Clinical trials for implantable brain-computer interfaces have commenced, aiming to validate the effectiveness and safety of the treatment for spinal cord injury patients [3] - Shanghai plans to establish a specialized committee for brain-computer interfaces, integrating various sectors to foster innovation [3] Group 4: Robotics - Galaxy General has launched TrackVLA, an end-to-end navigation model that utilizes visual perception and natural language instructions for robotic actions [4] Group 5: U.S. Debt Concerns - The International Financial Association warns that the rising U.S. debt could trigger a global bond market crisis, as borrowing costs in other countries often correlate with U.S. Treasury fluctuations [5] Group 6: Fund Performance - In the first five months of the year, some funds have reported returns exceeding 70%, particularly those focused on innovative pharmaceuticals and new consumer sectors [6] Group 7: Bond ETF Growth - Bond ETFs have seen significant inflows, with over 40 billion yuan in net inflows in May, indicating strong market interest despite overall weak bond market returns [7] Group 8: Consumer Goods Sales - The sales of consumer goods through trade-in programs have surpassed 1 trillion yuan this year, significantly boosting consumption [8] Group 9: Green Data Centers - China's first national standard for evaluating green data centers has been implemented, providing guidelines for energy efficiency and sustainable practices in data center operations [9] Group 10: Tesla Sales Decline - Tesla's new car registrations in France fell by 67% in May, marking the lowest level in nearly three years, despite the launch of a redesigned Model Y [10]

港股数字货币概念股走强，众安在线涨11%，移卡盘中涨35%；连连数字此前一度涨近80%，欧科云链 涨超45%。 ...

Group 1 - The core viewpoint of the article highlights a significant surge in Hong Kong's cryptocurrency concept stocks following the formal enactment of the stablecoin regulation [1] Group 2 - Lianlian Digital (02598.HK) experienced a nearly 80% increase in its stock price [1] - OKLink (01499.HK) saw its stock rise by over 30% [1] - New Huo Technology Holdings (01611.HK) recorded a nearly 9% increase in its stock price [1]

Group 1 - Bitcoin has surpassed $100,000, leading to positive performance in Hong Kong's Bitcoin-related stocks [1] - OK Group (01499) has seen an increase of over 13% [1] - Xiong'an Technology (01647.HK) has risen by more than 6% [1] - Boya Interactive (00434.HK) has also increased by 6% [1]

Revenue and Profitability - Revenue from continuing operations for the period was approximately HK$195.7 million, an increase from approximately HK$123.5 million for the same period in 2023[10]. - Loss attributable to the owners of the company for the period amounted to approximately HK$3.4 million, down from approximately HK$9.2 million for the same period in 2023[10]. - Basic and diluted loss per share for the period was approximately HK cents 0.06, compared to approximately HK cents 0.17 for the same period in 2023[10]. - Revenue from foundation and building construction works and ancillary services was approximately HK$157.0 million, representing an increase of approximately 74.6% compared to approximately HK$89.9 million for the corresponding period in 2023[15]. - Gross profit for the construction segment was approximately HK$13.7 million, an increase of approximately HK$3.3 million from approximately HK$10.4 million for the same period in 2023[16]. - Gross profit margin for the construction segment was approximately 8.7%, a decrease of 2.9 percentage points from approximately 11.6% for the same period in 2023[16]. - Gross profit from continuing operations amounted to approximately HK$42.2 million, an increase of approximately 23.8% compared to approximately HK$34.1 million for the same period in 2023[49]. - The gross profit margin from continuing operations decreased by 6.0 percentage points to approximately 21.6% due to increased revenues from foundation projects with lower margins[49]. - The total comprehensive loss for the period was HK$3,615,000, significantly reduced from HK$9,673,000 in the same period last year, indicating a positive trend[130]. - The loss for the period attributable to owners of the Company was HK$3,396,000, compared to a loss of HK$9,188,000 in the same period last year, representing a 63.0% improvement[132]. Digital Assets and Trading - Major sources of revenue included digital assets related businesses and technical services in addition to construction works[10]. - Revenue from proprietary trading in digital assets was approximately HK$35.9 million, representing an increase of approximately 16.6% compared to approximately HK$30.8 million for the corresponding period in 2023[29]. - The gross profit from digital assets related businesses amounted to approximately HK$28.4 million, an increase of approximately HK$5.4 million compared to approximately HK$23.0 million for the corresponding period in 2023[38]. - The gross profit margin for digital assets related businesses was approximately 75.2%, an increase of 2.7 percentage points from approximately 72.5% for the corresponding period in 2023[38]. - The market value of the Group's digital assets as of September 30, 2024, was approximately HK$420.1 million, a decrease from approximately HK$1,123.1 million as of March 31, 2024[29]. - Digital assets decreased significantly to HK$420,111,000 from HK$1,123,081,000, reflecting a 62.6% decline[136]. Project and Operational Updates - The group was not awarded any new projects during the period[17]. - As of September 30, 2024, the Group had 5 ongoing projects with a total contract value of approximately HK$640.2 million[21]. - During the period, the Group completed 3 projects with a total contract value of approximately HK$210.8 million[23]. - The increase in revenue was primarily due to the commencement of certain projects with higher contract values during the period[15]. - The Group's revenue from foundation and building construction works was approximately HK$157.0 million, a 74.6% increase compared to the same period last year[85]. Financial Position and Assets - Total assets as of 30 September 2024 amounted to approximately HK$685.1 million, a decrease from approximately HK$1,333.3 million as of 31 March 2024[68]. - The Group's debt ratio was approximately 76.1% as of 30 September 2024, down from approximately 87.4% as of 31 March 2024[68]. - The total assets of the Group's custody clients were approximately HK$71.8 million, an increase of approximately 13.6% compared to approximately HK$63.2 million as of March 31, 2024[35]. - The equity attributable to the owners of the Company was HK$162,212,000, slightly down from HK$165,685,000, a decrease of 2.8%[136]. Cash Flow and Expenses - For the six months ended September 30, 2024, net cash generated from operating activities was HK$92,491,000, a significant increase from HK$10,012,000 in the same period of 2023, representing a growth of 820%[149]. - Net cash used in investing activities decreased to HK$946,000 from HK$9,722,000 year-on-year, indicating a reduction in investment outflows[149]. - Net cash used in financing activities increased to HK$11,129,000 compared to HK$6,764,000 in the previous year, reflecting higher financing costs[149]. - The net increase in cash and cash equivalents for the period was HK$80,416,000, contrasting with a decrease of HK$6,474,000 in the same period last year[149]. - Cash and cash equivalents at the end of the period stood at HK$142,057,000, up from HK$83,456,000 in the previous year, marking a year-on-year increase of 70%[149]. Governance and Compliance - The Company did not declare any interim dividend during the period, consistent with the previous year[115]. - The Audit Committee reviewed the interim financial results, confirming compliance with applicable accounting standards and adequate disclosures[121]. - The Company has maintained compliance with the Corporate Governance Code, with a commitment to high standards of governance practices[115]. - The roles of Chairman and Chief Executive Officer are held by the same individual, Mr. Ren Yunan, which the Board believes provides strong leadership[115]. - The Company continues to focus on improving its financial reporting and internal control procedures through the established Audit Committee[120]. Strategic Focus and Future Plans - The company believes that digital assets will drive future development, with on-chain data being fundamental to this growth[88]. - The group will continue to focus on innovation-driven business development and customer-oriented strategies to contribute to the blockchain technology's widespread application and the development of the Web3 industry[88]. - The group did not have any significant investments or material acquisitions or disposals as of September 30, 2024[94]. - There are no future plans for material investments or capital assets as of September 30, 2024[94].

Financial Performance - For the six months ended September 30, 2024, the group reported revenue from continuing operations of approximately HKD 195.7 million, a significant increase from HKD 123.5 million for the same period in 2023, representing a growth of 58.4%[2] - The loss attributable to owners of the company for the period was approximately HKD 3.4 million, improved from a loss of HKD 9.2 million in the previous year, indicating a reduction of 63.0%[2] - The basic and diluted loss per share for the period was approximately HKD 0.06, compared to HKD 0.17 for the same period in 2023, reflecting a 64.7% improvement[2] - The total comprehensive loss for the period was HKD 3.6 million, significantly lower than HKD 9.7 million in the previous year, marking a decrease of 62.9%[3] - For the six months ended September 30, 2024, the company reported a net cash inflow from operating activities of HKD 92,491,000, a significant increase from HKD 10,012,000 in the same period last year[22] - The company incurred a total comprehensive loss of HKD 9,673,000 for the six months ended September 30, 2024, compared to a loss of HKD 9,498,000 in the same period last year[19] - The company reported a net loss before tax of HKD 2,976,000, with total liabilities standing at HKD 521,159,000[45] - The company reported a loss attributable to owners of the company from continuing operations of HKD 3,473,000 for the six months ended September 30, 2024, compared to a loss of HKD 9,189,000 in the previous year[64] Assets and Liabilities - The group's total assets as of September 30, 2024, were HKD 685.1 million, down from HKD 1,333.3 million as of March 31, 2024, indicating a reduction of 48.7%[12] - The group's total liabilities as of September 30, 2024, were HKD 521.2 million, a decrease from HKD 1,165.7 million, representing a reduction of 55.3%[17] - The net current assets as of September 30, 2024, were HKD 153.4 million, compared to HKD 161.1 million as of March 31, 2024, showing a slight decrease of 4.3%[17] - The company’s total equity as of September 30, 2024, was HKD 198,922,000, down from HKD 208,595,000 at the beginning of the period[19] - The company’s accumulated losses increased to HKD 113,125,000 as of September 30, 2024, compared to HKD 109,729,000 as of April 1, 2024[19] - The group recorded an unrecognized addition of right-of-use assets of approximately HKD 6,414,000 for the six months ended September 30, 2024, compared to none in the same period of 2023[73] - As of September 30, 2024, the group's total assets and total liabilities were approximately HKD 685.1 million and HKD 521.2 million, respectively, resulting in a debt ratio of approximately 76.1%, down from 87.4% as of March 31, 2024[112] Revenue Sources - Revenue from foundation and building construction services was HKD 156,589,000, significantly higher than HKD 89,862,000 in the prior year, indicating a growth of approximately 74.4%[32] - Digital asset trading and fair value changes generated revenue of HKD 35,947,000, compared to HKD 30,753,000 in the previous year, marking an increase of about 17.1%[32] - The segment revenue from foundation and building construction services was HKD 157,039,000, while digital asset-related services generated HKD 37,751,000, and technical services contributed HKD 1,030,000[43] - The gross profit for the ongoing business segments was HKD 46,797,000, with a notable contribution from digital asset-related services, which reported a profit of HKD 28,416,000[43] - The digital asset segment generated revenue of approximately HKD 35.9 million, an increase of about 16.6% compared to approximately HKD 30.8 million in the same period last year[124] - Revenue from the foundation and building construction segment was approximately HKD 157.0 million, representing a growth of 74.6% year-on-year[126] Operational Efficiency and Future Plans - The board remains focused on improving operational efficiency and exploring new market opportunities to drive future growth[3] - The company continues to invest in digital asset trading and trust services, indicating a strategic focus on expanding its digital asset offerings[39] - The company plans to enhance its market presence through strategic investments in technology and digital assets, aiming for further growth in these sectors[39] - The company has no future plans for significant investments or capital assets as of September 30, 2024[130] Employee and Compliance - The group employed a total of 120 staff as of September 30, 2024, up from 106 staff as of March 31, 2024, with total employee costs reaching approximately HKD 40.5 million[127] - The group continues to support industry compliance and has conducted over 10 training sessions, providing technical support for more than 300 related cases[126] - The audit committee, consisting of three independent non-executive directors, is responsible for ensuring the objectivity and credibility of the company's financial reporting[139] - The interim financial information for the period has been reviewed by the audit committee and complies with applicable accounting standards[140] Dividends and Securities - The company did not recommend the payment of any interim dividend for the period, consistent with the previous year[2] - The company did not declare or pay any dividends for the six months ended September 30, 2024, consistent with the same period in 2023[69] - During the period, the company or its subsidiaries did not purchase, sell, or redeem any of its listed securities[131]

Financial Performance - The total revenue for the fiscal year ending March 31, 2024, was HKD 337.3 million, a decrease of approximately 2% from HKD 344.9 million in the previous year[5]. - Revenue from foundation, building construction, and supporting services increased by approximately 50.3% to HKD 266.7 million, up from HKD 177.4 million in the previous year[22]. - The company reported a net loss before tax of HKD 45.1 million for the year, compared to a profit of HKD 144.7 million in the previous year[9]. - The digital asset-related business generated revenue of HKD 67.1 million, significantly up from HKD 30.3 million in the previous year[8]. - Revenue from trust and custody services for the year was approximately HKD 1.8 million, a decrease of about 59.1% compared to HKD 4.4 million in the same period last year[28]. - The revenue from continuing operations was approximately HKD 337.3 million, a decrease of about 2.2% from approximately HKD 344.9 million in the same period last year[50]. - The group recorded a net loss attributable to the owners of approximately HKD 40.3 million, compared to a profit of approximately HKD 43.5 million in the same period of 2023, primarily due to a decrease in revenue from the digital asset segment[56]. - The company reported a total comprehensive loss of HKD 41,011,000 for the year ending March 31, 2024, compared to a comprehensive income of HKD 41,972,000 in the previous year[152]. Assets and Liabilities - The company’s total assets amounted to HKD 1,333.3 million as of March 31, 2024[9]. - The company’s total liabilities were reported at HKD 1,165.7 million[9]. - The total assets and total liabilities of the group as of March 31, 2024, were approximately HKD 1,333.3 million and HKD 1,165.7 million, respectively, resulting in a debt ratio of approximately 87.4%[76]. - The group’s asset-liability ratio as of March 31, 2024, was approximately 25.3%, down from approximately 40.2% as of March 31, 2023[78]. - The company’s cash and bank balances decreased to HKD 61.9 million from HKD 90.6 million[154]. - The group held significant digital assets as of March 31, 2024, with Bitcoin valued at approximately HKD 526.0 million, accounting for 39.5% of total assets[45]. Operational Changes - The company completed the sale of its construction waste treatment services business on December 22, 2023, to focus more resources on core business segments[12]. - The company plans to continue focusing on expanding its core business segments following the divestiture of the construction waste treatment services[12]. - The group has five ongoing projects with a total contract value of approximately HKD 661.8 million as of March 31, 2024[25]. - The group won six new contracts during the year with a total contract value of approximately HKD 642.6 million[43]. - The company has classified its construction waste management services as discontinued operations following the sale of a subsidiary[191]. Expenses and Profitability - Administrative and other operating expenses from continuing operations were approximately HKD 100.0 million, an increase of about 23.8% from approximately HKD 80.8 million for the year ended March 31, 2023[31]. - The gross profit from the foundation, building construction, and supporting services segment was approximately HKD 28.6 million, a decrease of about 34.3% from approximately HKD 43.5 million for the year ended March 31, 2023[42]. - The group recorded a gross profit of approximately HKD 66.2 million from continuing operations, a decrease of about 57.0% from approximately HKD 154.0 million in the same period last year[51]. - The group’s digital asset-related business gross profit was approximately HKD 36.8 million, a decrease of about 60.3% from approximately HKD 92.8 million in the same period last year[47]. - The total employee cost from continuing operations for the year reached approximately HKD 86.5 million, down from HKD 100.2 million the previous year[96]. Market and Strategic Outlook - The group is actively exploring market opportunities in on-chain data and digital asset compliance, having launched over 40 blockchain explorers and processed over 2,000 TB of data[93]. - The group anticipates a gradual economic recovery in Hong Kong, which has achieved moderate growth and maintained a low unemployment rate, providing a favorable external environment for stable development[112]. - The group faces significant price volatility risks associated with digital assets, particularly with Ethereum and Bitcoin, which generally exhibit higher volatility compared to stablecoins[88]. - The company plans to enhance communication and collaboration with shareholders, customers, and partners to navigate challenges and seize opportunities in the evolving digital economy[144]. - The company is adapting its strategies and business layout in response to the growing importance of blockchain technology in the digital economy[144]. Compliance and Regulatory - The company has implemented policies and procedures to mitigate anti-money laundering risks, aligning with industry best practices[134]. - The company believes that a balanced regulatory framework will protect investors and promote responsible industry development[135]. - The group emphasizes compliance with regulatory requirements to contribute to the healthy development of the digital asset industry[93]. Shareholder and Dividend Information - The company did not declare any final dividend for the year 2023, maintaining a consistent policy[139]. - The company did not recommend the declaration of a final dividend for the year[157]. - Non-controlling interests reported a loss of HKD 596,000 from continuing operations, down from a loss of HKD 1,171,000 in the previous year[152].

Financial Performance - The group's revenue for the six months ended September 30, 2023, was approximately HKD 123.6 million, a decrease from HKD 182.2 million for the same period in 2022, representing a decline of about 32%[1] - The loss attributable to the company's owners for the period was approximately HKD 9.2 million, compared to a profit of HKD 35.2 million for the same period in 2022, primarily due to a decrease in revenue from the digital asset segment[1] - Basic and diluted loss per share for the period was approximately HKD 0.17, compared to earnings of HKD 0.66 per share for the same period in 2022[1] - The gross profit for the period was HKD 34,159,000, down from HKD 86,680,000 in the prior year, indicating a significant reduction in profitability[70] - The group recorded a net loss attributable to shareholders of approximately HKD 9.2 million, compared to a profit of HKD 35.2 million in the same period last year[126] - The group’s total revenue was approximately HKD 123.6 million, a decrease of about 32.2% from HKD 182.2 million in the same period last year[122] - The company reported a profit before tax of HKD 41,898 thousand, leading to a net profit of HKD 34,838 thousand after tax expenses of HKD 7,060 thousand[24] - The company reported a total comprehensive loss of HKD 9,673,000 for the period, compared to a total comprehensive income of HKD 34,259,000 in the prior year[70] Cash Flow and Investments - Net cash generated from operating activities was HKD 10,012 thousand, a significant improvement from a cash outflow of HKD 123,878 thousand in the previous year[6] - The net cash used in investing activities was HKD 9,722 thousand, compared to HKD 3,066 thousand in the previous year, indicating increased investment activity[6] - The net decrease in cash and cash equivalents for the period was HKD 6,474 thousand, compared to a decrease of HKD 53,300 thousand in the previous year[6] - As of September 30, 2023, the group's bank and cash balance was approximately HKD 85.0 million, down from HKD 90.6 million as of March 31, 2023[150] Assets and Liabilities - The company reported a total asset value of HKD 1,075,068 thousand as of September 30, 2023, down from HKD 1,105,194 thousand as of March 31, 2023[10] - The total liabilities amounted to HKD 876,146 thousand, a slight decrease from HKD 896,599 thousand in the previous period[10] - The company’s total liabilities as of September 30, 2023, were HKD 876,146 thousand, with significant liabilities from related party loans amounting to HKD 73,917 thousand[28] - The group’s total assets and total liabilities as of September 30, 2023, were approximately HKD 1,075.1 million and HKD 876.1 million, respectively, resulting in a debt ratio of approximately 81.5%[190] Revenue Segments - Revenue from the digital asset trading and fair value changes was HKD 30,753 thousand, down from HKD 71,367 thousand in the previous year, reflecting a decline of approximately 57%[13] - The company’s revenue from external customers in Hong Kong was HKD 121,700 thousand for the six months ended September 30, 2023, compared to HKD 166,294 thousand in the same period last year[38] - Revenue from the construction engineering segment increased by approximately 6.0% to about HKD 89.9 million compared to HKD 84.8 million in the same period last year[106] - Revenue from trust and custody services was approximately HKD 1.0 million, a decrease of about 41.2% from HKD 1.7 million in the same period last year[112] Operational Highlights - The company is focusing on expanding its digital asset services, including on-chain anti-money laundering solutions and API development[27] - The group has five ongoing projects with a total contract value of approximately HKD 293.8 million as of September 30, 2023[101] - The group secured three new contracts during the period with a total value of approximately HKD 453.4 million[108] - The group actively participated in the Greenwich Economic Forum and announced the upgrade of its OKLink product line, which includes new features like Onchain AML and Chaintelligence[159] Employee and Cost Management - The total employee cost for the period reached approximately HKD 37.4 million, compared to HKD 56.2 million for the same period in 2022[161] - The group employed 104 staff members as of September 30, 2023, down from 107 as of March 31, 2023[161] Governance and Compliance - The company has established an audit committee in accordance with the listing rules, ensuring proper governance and oversight[174] - The audit committee reviewed the group's interim financial results, confirming compliance with applicable accounting standards and regulations[169] - The group has adopted a code of conduct for securities trading by directors, ensuring compliance with the standards set forth in the listing rules[167] Market Outlook - The overall inflation rate is projected to decrease from 9.2% in 2022 to 5.9% in 2023, and further to 4.8% in 2024, while core inflation is expected to decline to 4.5% in 2024[131] - The global economic growth is forecasted to slow from 3.5% in 2022 to 3% in 2023 and 2.9% in 2024, significantly below historical averages[131] Future Plans - The group aims to continue driving blockchain technology applications in finance and other sectors while maintaining sustainable returns for shareholders[161] - The group will continue to assess business opportunities in the technology services segment and adjust its development strategy accordingly[183]

Financial Performance - The Group recorded a revenue of approximately HK$356.4 million for the year, with a profit attributable to owners of approximately HK$43.5 million, compared to a loss of HK$58.1 million in the previous year, marking a significant turnaround[17]. - The Group achieved revenue of approximately HK$356.4 million, with a profit attributable to shareholders of approximately HK$43.5 million, compared to a loss of HK$58.1 million in the same period last year, marking a turnaround to profitability[20]. - Gross profit for the Year amounted to approximately HK$155.2 million, an increase of approximately 84.1% compared to HK$84.3 million for the same period in 2022[75]. - The gross profit margin increased by 21.6 percentage points to approximately 43.5% for the Year from approximately 21.9% for the same period last year[75]. - The Group recorded a net profit attributable to the owners of the Company of approximately HK$43.5 million, compared to a loss of approximately HK$58.1 million for the corresponding period in 2022[86]. Revenue Breakdown - Revenue from digital assets related business was approximately HK$134.4 million, with a gross profit of approximately HK$92.8 million, representing a year-on-year increase of 1,618.5% and a gross profit margin of 69.0%, up 29.6 percentage points year-on-year[18]. - Revenue from proprietary trading in digital assets amounted to approximately HK$130.1 million, reflecting a growth of 2,525.5% compared to approximately HK$5 million in the same period of 2022[18]. - Revenue from technical services increased to approximately HK$34.4 million, a 71.1% year-on-year growth, with gross profit rising 160% to approximately HK$19.5 million[19]. - Revenue from construction waste handling services was approximately HK$9.5 million, a decrease of approximately HK$139.3 million year-on-year, while revenue from foundation and building construction works was approximately HK$179.3 million, down approximately 13.6%[23]. - Revenue from trust and custody services decreased to approximately HK$4.4 million, down about 49.4% from approximately HK$8.7 million in the same period of 2022[59]. Digital Assets and Trading - The market value of the Group's digital assets increased to approximately HK$649.5 million as of March 31, 2023, compared to approximately HK$560.1 million in 2022[53]. - The Group held approximately HK$649.5 million in digital assets as of March 31, 2023, with stablecoins, Bitcoin, and Ethereum representing significant portions of the total assets[111]. - The fair values of the stablecoins, Ethereum, and Bitcoin held by the Group were approximately HK$349.1 million, HK$88.2 million, and HK$113.5 million, respectively, accounting for approximately 31.6%, 8.0%, and 10.3% of the Group's total assets[111]. - The Group's proprietary trading in digital assets began in January 2022, utilizing quantitative trading strategies that are subject to market liquidity and system reliability risks[117][120]. - The Group's investment performance in digital assets is vulnerable to extreme market conditions, which could lead to substantial mark-to-market losses that may not recover if stop-loss mechanisms are triggered[117][120]. Operational Developments - OKLink Fintech Limited has developed a plan for on-chain AML and KYT businesses in response to the new licensing regime for virtual asset service providers in Hong Kong[19]. - The Group's product upgrade includes a Web3 one-stop data analysis platform, covering over 100 blockchains and containing around 3 billion address tags[19]. - The Group completed 5 projects during the year with a total contract value of approximately HK$784.0 million[50]. - The Group received multiple industry awards, including the "Intelligent Police Service Innovation Award" and recognition as a "2022 Global Blockchain Innovative Application Demonstration Case," highlighting its advancements in technological innovation[24]. - The Group's proprietary risk management system continuously monitors trading strategies and system performance to prevent significant losses[119][121]. Market Outlook and Strategy - The company is optimistic about the future development of digital assets and the Web3 industry, aiming to explore long-term business development opportunities[25]. - The Group plans to continuously assess and adjust its business segments based on market trends and company strategies[23]. - The new licensing regime for virtual asset trading platforms in Hong Kong is expected to enhance the market's compliance and innovation in the virtual assets sector[133]. - The Group believes its new business model will significantly enhance product capability and market competitiveness in the compliant virtual assets industry[136]. - The global economic growth is projected to recover slowly, with the International Monetary Fund forecasting a growth rate of 2.8% in 2023 and 3.0% in 2024[132]. Governance and Management - The company has a strong board of directors with diverse backgrounds in finance, law, and technology, enhancing its governance and strategic direction[167]. - The board's composition reflects a balance of executive and non-executive directors, promoting effective oversight and strategic decision-making[167]. - The management team includes experienced professionals with qualifications from prestigious institutions, contributing to the company's credibility and operational efficiency[174]. - The company is committed to maintaining compliance with the Securities and Futures Ordinance, ensuring transparency and accountability in its operations[162]. - The Group has implemented Anti-Money Laundering (AML) and Know-Your-Client (KYC) policies to mitigate risks associated with trust business compliance in Hong Kong[123][126]. Staffing and Costs - As of March 31, 2023, the Group employed a total of 107 staff, down from 141 staff as of March 31, 2022[142]. - Total staff costs for the year amounted to approximately HK$107.5 million, compared to approximately HK$132.5 million for the previous year, reflecting a decrease of about 19%[142]. Financial Position - As of March 31, 2023, the Group's total assets amounted to approximately HK$1,105.2 million, up from approximately HK$997.3 million as of March 31, 2022, while total liabilities increased to approximately HK$896.6 million from approximately HK$830.7 million[92]. - The Group's debt ratio decreased to approximately 81.1% as of March 31, 2023, down from approximately 83.3% as of March 31, 2022[92]. - The gearing ratio improved to approximately 40.2% as of March 31, 2023, compared to approximately 61.6% as of March 31, 2022, due to partial repayment of related party loans totaling approximately HK$14.2 million during the year[94]. - The Group did not have any pledged bank deposits as of March 31, 2023, maintaining a cash balance of approximately HK$90.6 million, down from approximately HK$135.6 million as of March 31, 2022[93]. - The Group recorded an impairment loss of approximately HK$7.0 million during the Year, a decrease of approximately HK$20.4 million compared to HK$27.4 million for the year ended March 31, 2022[83].

Financial Performance - The group's revenue for the year was approximately HKD 356.4 million, a decrease of about 7.6% compared to HKD 385.6 million for the year ended March 31, 2022[1]. - The profit attributable to the company's owners for the year was approximately HKD 43.5 million, compared to a loss of HKD 58.1 million for the year ended March 31, 2022, primarily due to increased revenue from the group's digital asset trading business[1]. - Basic and diluted earnings per share for the year were approximately HKD 0.81, compared to a loss of HKD 1.08 per share for the year ended March 31, 2022[1]. - The group reported a gross profit of HKD 155.2 million for the year, significantly up from HKD 84.3 million in the previous year, indicating a strong recovery in operational performance[2]. - The operating profit for the year was HKD 57.1 million, a significant turnaround from an operating loss of HKD 53.3 million in the previous year[2]. - The group recorded a pre-tax loss of HKD 58.7 million, with a tax credit of HKD 271, resulting in a net loss attributable to shareholders of approximately HKD 43.5 million[86]. - The company recorded a net loss of HKD 58.4 million for the year, compared to a net loss of HKD 58.1 million in the previous year, indicating a slight improvement in financial performance[101]. - The company reported a net profit attributable to shareholders of approximately HKD 43.5 million, a significant turnaround from a net loss of HKD 58.1 million in the previous year, driven by increased revenue from proprietary trading in digital assets[113]. Assets and Liabilities - As of March 31, 2023, the equity attributable to the company's owners was approximately HKD 205.6 million, up from HKD 162.1 million as of March 31, 2022[1]. - The total assets of the group as of March 31, 2023, were approximately HKD 1,105.2 million, compared to HKD 997.3 million in the previous year[5]. - The group's total liabilities were approximately HKD 896.6 million, reflecting the financial structure and obligations of the company[80]. - The company's total liabilities include current and non-current liabilities, excluding certain tax liabilities and other undistributed liabilities[60]. - The company's debt-to-equity ratio as of March 31, 2023, is approximately 40.2%, a significant decrease from 61.6% as of March 31, 2022, primarily due to the repayment of related party loans totaling approximately HKD 14.2 million[97]. - As of March 31, 2023, overdue trade receivables were approximately HKD 7,615 thousand, with no amounts overdue by 90 days or more considered as default[47]. - The group’s total assets amounted to HKD 1,105.2 million, with non-current assets accounting for a significant portion[80]. - As of March 31, 2023, the group's total assets and total liabilities were approximately HKD 1,105.2 million and HKD 896.6 million, respectively, resulting in a debt ratio of approximately 81.1%, down from 83.3% a year earlier[143]. Revenue Segments - Revenue from the technology services segment was approximately HKD 34.4 million, an increase of about 71.1% from HKD 20.1 million in the previous year, driven by enhanced blockchain technology services[14]. - Revenue from the construction waste management segment was approximately HKD 9.5 million, a decrease of about HKD 139.3 million from approximately HKD 148.8 million in the same period last year, with a gross profit of about HKD 0.5 million, down approximately 98.8% from HKD 42.1 million[19]. - Revenue from digital asset trading and changes in fair value amounted to HKD 130.1 million, significantly up from HKD 4.9 million in the previous year[75]. - Revenue from the foundation and building construction segment was approximately HKD 179.3 million, a decrease of 13.6% from approximately HKD 207.5 million in the previous year, while gross profit increased by about 28.8% to approximately HKD 44.3 million[38]. - The group’s construction and building engineering services generated revenue of HKD 177.4 million, down from HKD 207.2 million in the previous year[75]. - The group’s loan business revenue was approximately HKD 0.5 million, a decrease of about 81.5% from HKD 2.7 million in the previous year[87]. - The company’s revenue from trust and custody services decreased to approximately HKD 4.4 million, a decline of about 49.4% compared to HKD 8.7 million in the same period last year[50]. Digital Assets - The market value of the group's digital assets was approximately HKD 649.5 million as of March 31, 2023, up from approximately HKD 560.1 million in 2022, with digital asset trading revenue and net fair value changes amounting to approximately HKD 130.1 million, an increase of about 2,525.5% from approximately HKD 5.0 million in the same period last year[25]. - The group held significant digital assets, including stablecoins valued at approximately HKD 349.1 million, accounting for 31.6% of total assets[26]. - Gross profit from digital asset-related business increased to approximately HKD 92.8 million, up about 1,618.5% from HKD 5.4 million year-on-year, with a gross profit margin of 69.0%, an increase of approximately 29.6 percentage points from 39.4%[50]. - The group anticipates significant growth potential in the digital asset sector under the regulatory environment, contributing substantial cash flow from its digital asset trading and trust services[160]. - The group is optimistic about the future development of the digital asset and Web3 industries, aiming to provide long-term returns to shareholders[161]. Operational Highlights - The group secured 4 new contracts with a total contract value of approximately HKD 187.3 million during the year[20]. - As of March 31, 2023, the group had 5 ongoing projects with a total contract value of approximately HKD 293.8 million[22]. - The group completed 5 projects during the year with a total contract value of approximately HKD 784.0 million[23]. - The group employed a total of 107 employees as of March 31, 2023, down from 141 employees a year earlier[161]. - Total employee costs for the year reached approximately HKD 107.5 million, compared to approximately HKD 132.5 million for the previous year[161]. Governance and Compliance - The group has complied with corporate governance codes and has established an audit committee to oversee financial reporting[181]. - The group has not made any significant investments or acquisitions during the reporting period[163]. - The group has not pledged any assets during the year, maintaining a strong financial position[116]. Economic Outlook - The global economic growth is projected to recover slowly, with the International Monetary Fund forecasting a growth rate of 2.8% in 2023 and 3.0% in 2024, while global inflation is expected to decrease from 8.7% in 2022 to 7.0% in 2023[128]. - The Hong Kong government is exploring the introduction of virtual asset trading platforms and ETFs, indicating a welcoming stance towards the virtual asset market[158].