KWAN ON HOLDINGS LIMITED 均安控股有限公司 （於開曼群島註冊成立的有限公司） （股票代號：1559） 截至二零二五年三月三十一日止年度之 全年業績公告 均安控股有限公司（「本公司」）之董事（「董事」）會（「董事會」）欣然公佈本公司及 其附屬公司（統稱為「本集團」）截至二零二五年三月三十一日止年度（「報告年度」） 之經審核業績連同去年同期之經審核比較數字如下： 1 綜合損益及其他全面收益表 截至二零二五年三月三十一日止年度 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何 部分內容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。 均安控股 | | | 二零二五年 | 二零二四年 | | --- | --- | --- | --- | | | 附註 | 千港元 | 千港元 | | 持續經營業務 | | | | | 收入 | 4 | 316,272 | 481,271 | | 銷售及已提供服務的成本 | | (312,488) | (521,068) | | 毛利╱（毛損） | | 3,784 ...

Revenue and Financial Performance - Revenue for the six months ended September 30, 2024, was HKD 189,396,000, a slight increase from HKD 187,737,000 in the same period of 2023, representing a growth of approximately 0.88%[48] - The group's revenue from construction-related segments decreased from HKD 187.7 million to approximately HKD 134 million, primarily due to a reduction of HKD 44.5 million in government construction project revenue in Hong Kong and HKD 30.7 million in private construction project revenue in Malaysia[4] - The cost of services decreased to HKD 190,580,000 from HKD 206,994,000, resulting in a gross loss of HKD 1,184,000 compared to a gross loss of HKD 19,257,000 in the previous year[48] - The pre-tax loss for the period was HKD 23,212,000, significantly improved from a pre-tax loss of HKD 49,755,000 in the prior year, indicating a reduction of approximately 53.4%[48] - The total comprehensive loss for the period was HKD 27,703,000, down from HKD 72,863,000 in the same period last year, reflecting a decrease of about 62%[51] - Basic and diluted loss per share improved to HKD 1.25 from HKD 2.76, indicating a reduction in loss per share of approximately 54.7%[59] - The company reported a loss of HKD 23,431,000 for the six months ended September 30, 2024, compared to a loss of HKD 51,535,000 for the same period in 2023, representing a 54.5% improvement[99] Expenses and Cost Management - Administrative expenses for the reporting period were approximately HKD 19.4 million, a decrease from HKD 27.6 million for the six months ended September 30, 2023, attributed to efficiency measures implemented by management[9] - Financial costs for the reporting period totaled approximately HKD 4.2 million, down from HKD 5.8 million for the six months ended September 30, 2023, mainly due to a reduction in bank loan balances[10] - Employee costs for the reporting period were approximately HKD 26.3 million, down from HKD 53.4 million for the six months ended September 30, 2023[17] - The company reported a decrease in bank loan interest expenses to HKD 4,096 thousand for the six months ended September 30, 2024, down from HKD 6,478 thousand in the same period of 2023, a reduction of 36.73%[94] - The company incurred a current tax expense of HKD 78 thousand for the six months ended September 30, 2024, compared to HKD 1,111 thousand in the same period of 2023, indicating a decrease of 92.97%[96] Assets and Liabilities - Total assets as of September 30, 2024, amounted to HKD 644,041 thousand, a decrease from HKD 650,736 thousand as of March 31, 2024, reflecting a decline of 1.43%[88] - Total liabilities increased to HKD 538,064 thousand as of September 30, 2024, compared to HKD 517,136 thousand as of March 31, 2024, representing an increase of 4.03%[88] - The company's equity attributable to owners decreased to HKD 141,638,000 from HKD 170,011,000, reflecting a decline of approximately 16.7%[62] - Non-current assets as of September 30, 2024, totaled HKD 48,967,000, down from HKD 56,972,000 as of March 31, 2024, representing a decrease of about 14.1%[61] - Current assets increased to HKD 595,074,000 from HKD 593,764,000, showing a slight growth of approximately 0.22%[61] - Current liabilities rose to HKD 536,787,000 from HKD 516,204,000, indicating an increase of about 3.9%[61] Cash Flow and Financing - For the six months ended September 30, 2024, the net cash generated from operating activities was HKD 10,594 thousand, a significant improvement from a net cash used of HKD (39,476) thousand in the same period of 2023[67] - The net cash used in investing activities was HKD (5,765) thousand, compared to HKD (10,583) thousand in the prior year, indicating a reduction in cash outflow[67] - The net cash used in financing activities was HKD (7,816) thousand, a decrease from HKD 35,680 thousand in the previous year, reflecting improved cash management[67] - The total cash and cash equivalents increased by HKD 8,543 thousand, compared to a decrease of HKD (14,379) thousand in the same period last year[67] - As of September 30, 2024, the group had bank balances and cash of approximately HKD 36.6 million, an increase from approximately HKD 26.5 million as of March 31, 2024[12] Share Capital and Dividends - The company reported a total issued share capital of 1,039,456,250 shares, representing approximately 55.61% ownership by major shareholders[31] - The company did not declare any interim dividends for the period ending September 30, 2023[43] - No interim dividend was declared for the six months ended September 30, 2024, consistent with the previous year[131] Shareholder Information - Major shareholders include Huaguan Group Limited, Jiangsu Provincial Construction Group, and Greenland Infrastructure Group, all holding 55.61% of the issued share capital[31] - The company’s major shareholder, Chen Zhenghua, holds a significant interest through Huaguan Group, which is wholly owned by Jiangsu Provincial Construction Group[33] - The company has not received any notifications of interests from other individuals outside of the disclosed major shareholders[34] Legal and Compliance - The company is required to maintain a register of interests and positions held by directors and senior management as per the Securities and Futures Ordinance[28] - Legal claims against the group as of September 30, 2024, included ten cases with individual claims exceeding HKD 1,000,000, totaling approximately HKD 184,000,000, with a provision of HKD 7,200,000 recognized[132] - The company is currently in litigation with a subcontractor regarding claims for unpaid subcontractor fees[116] Related Party Transactions - Related party transactions during the reporting period included financial guarantees amounting to HKD 27,559,000 and HKD 63,305,000 payable to a related company, Jiangsu Provincial Construction Engineering Group Co., Ltd., compared to HKD 28,670,000 and HKD 72,930,000 in the previous year[129] - The total remuneration for key management personnel during the reporting period was approximately HKD 4,162,000, a decrease from HKD 5,565,000 for the six months ended September 30, 2023[130] Foreign Exchange and Risks - The group has no significant foreign exchange risks other than certain receivables and contract assets denominated in foreign currencies, with no capital commitments or significant contingent liabilities as of September 30, 2024[15] - The company reported a foreign exchange gain of HKD 1,668 thousand, compared to a loss of HKD (294) thousand in the same period last year[80]

Financial Performance - Revenue for the six months ended September 30, 2024, was HKD 189,396,000, a slight increase of 0.88% compared to HKD 187,737,000 for the same period in 2023[3] - The cost of services decreased to HKD (190,580,000) from HKD (206,994,000), resulting in a gross loss of HKD (1,184,000), significantly improved from a gross loss of HKD (19,257,000) in the previous year[3] - The loss before tax for the period was HKD (23,212,000), a reduction of 53.4% compared to HKD (49,755,000) in the same period last year[3] - The total comprehensive loss for the period was HKD (27,703,000), down from HKD (72,863,000) in the previous year, indicating a significant improvement[5] - Basic and diluted loss per share improved to HKD (1.25) from HKD (2.76) year-on-year[5] - The company reported a fair value loss on financial assets of HKD (4,783,000), an improvement from HKD (11,374,000) in the previous year[5] - The company reported a loss of HKD 23,431,000 for the six months ended September 30, 2024, compared to a loss of HKD 51,535,000 in the previous year, indicating an improvement of 54.5%[51] - Basic and diluted loss per share for the six months ended September 30, 2024, was HKD (0.0125), compared to HKD (0.0275) in the previous year[51] Revenue Breakdown - Total revenue for the six months ended September 30, 2024, was HKD 189,396,000, a slight increase from HKD 187,737,000 for the same period in 2023[21][40] - Revenue from external customers in Hong Kong increased to HKD 125,170,000 for the six months ended September 30, 2024, up from HKD 99,524,000 in 2023, representing a growth of approximately 26%[40] - The construction segment reported a loss of HKD 35,142,000 for the six months ended September 30, 2024, compared to a loss of HKD 13,927,000 for the same period in 2023[22][26] - Revenue from construction and maintenance contracts for civil engineering and building projects decreased to HKD 134,004,000 from HKD 187,737,000, a decline of 28.6%[44] - Revenue from chemical materials trading was HKD 55,392,000, with no prior year comparison available[44] - The trade segment generated revenue of HKD 55,392,000 for the six months ended September 30, 2024, while the property development segment reported a loss of HKD 345,000[21][26] Assets and Liabilities - Current assets totaled HKD 595,074,000, slightly up from HKD 593,764,000 as of March 31, 2024[7] - Current liabilities increased to HKD 536,787,000 from HKD 516,204,000, resulting in a net current asset value of HKD 58,287,000, down from HKD 77,560,000[7] - Total assets decreased to HKD 107,254,000 from HKD 134,532,000, reflecting a decline in overall financial position[7] - The total assets for the reporting segments as of September 30, 2024, were HKD 607,187,000, an increase from HKD 596,255,000 as of March 31, 2024[37] - The total liabilities for the reporting segments as of September 30, 2024, were HKD 525,485,000, compared to HKD 484,593,000 as of March 31, 2024[37] Cash Flow and Expenses - Interest expenses decreased to HKD 4,153,000 from HKD 6,732,000, a reduction of 38.2%[44] - Current tax expenses for the six months ended September 30, 2024, were HKD 78,000, down from HKD 1,111,000, a decrease of 92%[46] - Depreciation expenses for property, plant, and equipment totaled HKD 1,956,000, down from HKD 3,149,000, a decrease of 37.9%[49] - The total employee cost during the reporting period was approximately HKD 26.3 million, compared to HKD 53.4 million for the six months ended September 30, 2023[111] - Administrative expenses for the reporting period were approximately HKD 19.4 million, a decrease from HKD 27.6 million for the same period last year, mainly due to efficiency measures implemented by management[105] - Financial costs for the reporting period totaled approximately HKD 4.2 million, down from approximately HKD 5.8 million for the same period last year, primarily due to a reduction in bank loan balances[106] Business Operations - The company continues to focus on construction-related businesses, property development, and chemical materials trading in Hong Kong and mainland China[10] - The group continues to explore new business opportunities in the private construction market in Hong Kong, Malaysia, and mainland China to optimize resources amid competitive challenges in the construction industry[97] - The group has ongoing litigation with a subcontractor regarding claims for unpaid subcontracting fees and compensation for contract termination[71] Shareholder Information - The group has not declared any interim dividends for the six months ended September 30, 2024, consistent with the same period last year[93] - The company has not recommended any dividends for the reporting period[117] - As of September 30, 2024, the company's issued share capital is approximately HKD 18.7 million, with 1,869,159,962 ordinary shares issued at a par value of HKD 0.01 each[110] Compliance and Governance - The board has complied with the corporate governance code during the reporting period[112] - The audit committee has reviewed the unaudited condensed consolidated financial statements for the reporting period[115] - There have been no significant events affecting the company since the end of the reporting period[119]

Financial Performance - The company recorded a total loss of HKD 50 million from three contracts due to project delays and disputes with subcontractors[9]. - The company plans to liquidate its investments in the Philippines, resulting in a sale generating approximately HKD 109 million after direct taxes, with a total loss of HKD 50.8 million recorded for the fiscal year[12]. - The total revenue from engineering contracts in mainland China, the Philippines, and Malaysia amounted to HKD 320 million, with a total profit of HKD 11 million[13]. - The revenue for the construction and property development segment was approximately HKD 582.4 million, an increase of 10.0% from HKD 529.5 million in the previous year[43]. - The segment's revenue increase was primarily due to a one-time sale of a property in the Philippines, generating a net income of HKD 109 million; excluding this, revenue decreased by HKD 56.1 million[43]. - Revenue from road engineering contracts decreased significantly by 52.6%, from HKD 234.8 million to HKD 111.2 million, mainly due to the completion of contracts NE201605 and DC201810[44]. - The revenue from the Malaysia construction segment increased by HKD 194.1 million, while the Philippines construction segment contributed HKD 40.6 million[47]. - The gross loss for the construction and property development segment was approximately HKD 118.3 million, a significant increase from HKD 31.7 million in the previous year[48]. - The company recorded a gross loss of HKD 74.7 million in road engineering and landslide prevention services due to project delays and additional costs incurred[51]. - The revenue from trade business was approximately HKD 72.1 million, a decrease from HKD 94.6 million in the previous year[53]. - The net impairment loss of financial and contract assets for the reporting year was approximately HKD 3.4 million, a decrease from HKD 35.1 million in 2023[56]. - Impairment of properties, plants, and equipment amounted to HKD 4.5 million due to a decline in real estate market prices, compared to no impairment in 2023[58]. - Other income for the reporting year was approximately HKD 9 million, down from HKD 12.8 million in 2023, primarily due to the absence of government subsidies recorded in the previous year[59]. - Administrative expenses increased by approximately HKD 13.5 million to a total of HKD 54.8 million, driven by a rise in employee costs of about HKD 9.3 million[61]. - Financial costs for the reporting year were approximately HKD 17.4 million, up from HKD 9.2 million in 2023, mainly due to costs associated with property development in the Philippines[64]. - The group's current assets net value as of March 31, 2024, was approximately HKD 77.6 million, down from HKD 282.6 million in 2023, with a current ratio of 1.15 compared to 1.58 in 2023[66]. - The debt-to-equity ratio as of March 31, 2024, was approximately 72.8%, an increase from 54.8% in 2023[66]. - The group had no significant capital commitments as of March 31, 2024, consistent with the previous year[68]. - The company’s financial performance details are available in the audited consolidated financial statements[167]. Project Management and Operations - The company has allocated additional resources to expedite contract progress in response to government pressures[8]. - The ongoing geopolitical tensions and rising financial costs have created significant challenges for the company's property development projects in the Philippines[12]. - The company is actively engaging with the government to explore feasible solutions for contract issues[9]. - The company faced intensified competition in the Hong Kong civil engineering construction market, leading to suppressed contract prices and challenges in bidding[8]. - The company successfully secured new engineering and pipeline contracts in Malaysia valued at approximately HKD 187.8 million during the fiscal year[13]. - The company successfully secured construction contracts in mainland China, the Philippines, and Malaysia during the reporting year[36]. - As of March 31, 2024, the total contract amount for ongoing projects is HKD 1,063.4 million, with cumulative revenue recognized at HKD 946.8 million[37]. - The expected completion date for the Kai Tak Development Phase 4 infrastructure project is December 13, 2017, with a contract value of HKD 1,038.3 million and recognized revenue of HKD 938.8 million[37]. - The slope repair and improvement project in Area A has a contract value of HKD 25.1 million, with recognized revenue of HKD 8.0 million and expected completion by January 9, 2025[37]. - The company is listed as an approved contractor for various public works projects in Hong Kong, including waterworks and road engineering services[35]. - The management team includes experienced professionals with over 20 years in the industry, enhancing the company's operational capabilities[30][31]. - The company aims to expand its market presence through strategic partnerships and new project acquisitions in the region[36]. - The management is focused on enhancing operational efficiency and exploring new technologies to improve service delivery[36]. - The company has a strong pipeline of projects, indicating a positive outlook for future revenue growth[36]. - The company has submitted applications for further extensions on project completion dates, which are currently under consideration by clients[40]. Corporate Governance - The board of directors consists of six members, including three executive directors and three independent non-executive directors, ensuring a balanced representation to protect shareholder interests[91]. - The company aims to enhance its corporate governance practices to comply with the corporate governance code[89]. - The board has adopted a diversity policy, considering various measurable aspects such as gender, age, cultural background, and professional experience in its member selection process[100]. - The company plans to appoint at least one female director to the board by December 31, 2024, to improve gender diversity[101]. - Approximately 22% of the company's employees are female, indicating a commitment to increasing female representation in the workforce[101]. - The board meets at least four times a year, although only two regular meetings were held in the reporting year, with management providing updates through electronic communication[88]. - The company has established a code of conduct for securities trading by directors, ensuring compliance with listing rules[90]. - The board is responsible for the overall management of the company's business and is supported by executive directors and senior management in fulfilling its duties[94]. - The nomination committee is tasked with monitoring the implementation of the board diversity policy and will review it periodically to ensure effectiveness[100]. - The company emphasizes the importance of continuous professional development for directors and senior management to enhance governance practices[94]. - The company held two regular board meetings and various committee meetings during the reporting year[104]. - All executive directors have service contracts effective for an initial term of three years[108]. - Independent non-executive directors are required to rotate and seek re-election every three years[111]. - The board has established four committees: Audit, Remuneration, Nomination, and Risk Management[117]. - Each committee has a written terms of reference available on the stock exchange and the company's website[117]. - The company provides training for new directors to ensure understanding of business operations and regulatory responsibilities[113]. - All directors participated in training on corporate governance and regulatory requirements[117]. - The company has purchased liability insurance for directors and key personnel[112]. - The board ensures timely provision of meeting records containing all necessary information for informed decision-making[107]. - The company secretary is responsible for maintaining records of all board and committee meetings[104]. Risk Management - The Audit Committee reviewed the consolidated financial statements for the reporting year and confirmed compliance with applicable accounting standards and listing rules[121]. - The Compensation Committee assessed the remuneration of directors and senior management, finding it fair and reasonable, with three members earning between HKD 1,000,001 and HKD 1,500,000, and two members earning between HKD 1,500,001 and HKD 2,000,000[131]. - The Risk Management Committee held a meeting to discuss the 2023 risk management report and updated key risk indicators for 2024[129]. - The company has established a risk management framework that includes participation from the Board, Audit Committee, and Risk Management Committee[136]. - The Board is responsible for maintaining and annually reviewing the effectiveness of the risk management and internal control systems[133]. - The company has no significant uncertainties regarding its ability to continue as a going concern as of March 31, 2024[132]. - The Audit Committee consists of three independent non-executive directors, ensuring independence and objectivity in the audit process[121]. - The company has a structured process for identifying, assessing, and managing significant risks, which is continuously implemented[137]. - The Nomination Committee evaluates the structure and diversity of the Board, considering factors such as gender, age, and professional experience[127]. - The company has established a policy for handling and disclosing inside information, ensuring confidentiality and compliance[137]. - The company has engaged an independent advisory firm to conduct internal audits, assessing key risks and internal controls, with results submitted to senior management and the audit committee[140]. - The audit fees for the year ending March 31, 2024, amounted to approximately HKD 1,400,000, with HKD 1,200,000 for audit services and HKD 200,000 for other services[142]. - The board has conducted a comprehensive review of the risk management and internal control systems, concluding that they are effective and sufficient for the year[145]. Shareholder Communication and Dividend Policy - The company aims to balance dividend distribution and retention of sufficient liquidity to meet operational needs and seize future growth opportunities[147]. - The board will review the dividend policy periodically and has the discretion to update or modify it as deemed appropriate[149]. - The company has implemented various channels for communication with shareholders and investors, ensuring effective engagement[156]. - The board confirmed the effectiveness and adequacy of the risk management and internal control systems through an annual review, including changes in significant risks since the last review[141]. - The company encourages environmental protection measures among employees and has implemented practices to reduce energy consumption[156]. - The company has established a policy for shareholder communication, which has been effectively implemented during the reporting year[155]. - The board will consider various factors, including actual earnings performance and capital expenditure needs, when determining dividend amounts[147]. Market and Operational Challenges - Government contracts accounted for approximately 30% of the group's total revenue in the reporting year, down from 48% in 2023[169]. - The group primarily generates revenue from non-recurring projects, with no long-term agreements in place with clients, which may significantly impact future financial performance[172]. - The group did not experience any significant labor shortages or industrial actions during the reporting year, but future construction activities may face challenges in labor availability[173]. - Delays in public project commencement may arise from political disagreements and funding approval issues, potentially affecting operational performance[176]. - The group relies heavily on government contracts, and a significant reduction in such contracts could adversely impact business and profitability[169]. - The group’s main business activities remained unchanged during the reporting year, focusing on water engineering, roadworks, and construction services[166]. - The group has established anti-corruption policies to support compliance with relevant laws and regulations[162]. - The group has implemented a whistleblowing policy to allow employees and stakeholders to raise concerns confidentially[161]. - The company has expanded its business into the Philippines and Malaysia for construction projects and into mainland China for chemical materials trading, facing operational risks in overseas markets[177]. - Revenue from the largest customer accounted for approximately 35% of total revenue in the reporting year, down from 48% in 2023; revenue from the top five customers represented about 82% of total revenue, compared to 84% in 2023[183]. - The sales cost from the top five suppliers constituted about 18% of total sales costs in the reporting year, a decrease from approximately 45% in 2023; the largest supplier accounted for about 6% of total sales costs, down from 30% in 2023[186].

Financial Performance - Revenue for the year ended March 31, 2024, was HKD 654,452,000, an increase from HKD 624,187,000 in the previous year, representing a growth of approximately 4.05%[29] - The gross loss for the year was HKD (118,255,000), compared to a gross loss of HKD (31,593,000) in the previous year, indicating a significant increase in losses[29] - The net loss for the year was HKD (190,198,000), up from HKD (112,222,000) in the previous year, reflecting a year-over-year increase of approximately 69.5%[29] - Administrative expenses and financial costs totaled HKD (54,804,000) and HKD (17,381,000) respectively, compared to HKD (41,299,000) and HKD (9,222,000) in the previous year, showing an increase in both categories[29] - The company reported a basic loss per share of HKD (8.31), compared to HKD (6.44) in the previous year, reflecting a worsening in per-share performance[44] - The company’s cash and cash equivalents decreased to HKD 26,535,000 from HKD 47,624,000, indicating a decline in liquidity[45] - The company’s total assets decreased from HKD 771,457,000 to HKD 593,764,000, reflecting a reduction in overall asset base[45] - The company has recognized a provision for litigation amounting to HKD (7,200,000) during the year, which was not present in the previous year[29] - The construction segment reported a loss of HKD 104,932,000 for the year ended March 31, 2024, compared to a loss of HKD 85,617,000 in the previous year, indicating a worsening performance[58] - The group reported a loss of HKD 155,403,000 for the year ended March 31, 2024, compared to a loss of HKD 111,719,000 in the previous year, reflecting increased financial challenges[64] Employee and Operational Costs - The total employee cost for the group during the reporting year was approximately HKD 92.8 million, an increase from HKD 90 million in 2023[22] - The group employed a total of 100 employees as of March 31, 2024, including 94 full-time and 6 temporary staff[22] - Administrative expenses increased by approximately HKD 13.5 million to HKD 54.8 million, primarily due to a rise in employee costs[94] Assets and Liabilities - The company's net asset value decreased to HKD 133,600,000 from HKD 339,656,000 in the previous year, a decline of approximately 60.7%[37] - Total liabilities decreased significantly from HKD 26,021,000 to HKD 932,000, indicating a reduction in non-current liabilities[37] - The company's current assets net value as of March 31, 2024, was approximately HKD 77.6 million, down from HKD 282.6 million in the previous year[96] - The debt-to-equity ratio as of March 31, 2024, was approximately 73.3%, up from 54.8% in 2023[124] Revenue Sources and Contracts - The group secured new engineering and pipeline contracts in Malaysia with a total value of approximately HKD 187,800,000 during the fiscal year[69] - The group’s engineering contract revenue in mainland China, the Philippines, and Malaysia amounted to HKD 320,000,000, with a total profit of HKD 11,000,000 during the reporting year[69] - Revenue from private projects in Hong Kong amounted to approximately HKD 9.3 million, with a gross profit of about HKD 0.3 million[90] - Revenue from road engineering contracts decreased by 52.6% to HKD 111.2 million from HKD 234.8 million in the previous year[109] - The company experienced a significant increase in construction contract revenue in Malaysia and the Philippines, totaling approximately HKD 234.7 million[110] Financial Policies and Risks - The group’s financial policy is conservative, with a focus on maintaining sufficient cash reserves and obtaining adequate committed loans from major banks[20] - The group has not held any significant investments amounting to 5% or more of total assets as of March 31, 2024[21] - The group has no major capital commitments as of March 31, 2024[120] - The group has no future plans for significant investments or capital assets[125] Other Financial Aspects - Bank interest income increased to HKD 644,000 in 2024 from HKD 133,000 in 2023, showing a significant improvement in financial income[59] - Financial costs for bank borrowings increased to HKD 16,969,000 in 2024 from HKD 11,609,000 in 2023, indicating rising interest expenses[59] - The group recorded a foreign exchange loss of HKD 5.7 million this fiscal year, compared to a loss of HKD 15.1 million in the previous fiscal year[123] - Other comprehensive expenses for the reporting year were approximately HKD 15.9 million, unchanged from 2023, with a fair value loss of HKD 10.1 million recorded this fiscal year compared to HKD 0.9 million in the previous year[123] Strategic Decisions and Future Outlook - The group is actively seeking opportunities in the construction markets of Malaysia and mainland China to mitigate losses from underperforming contracts[69] - The group incurred a strategic decision to liquidate investments in the Philippines, resulting in a loss of HKD 50.8 million from the sale of a development property[84] - The group is currently evaluating the impact of recently announced amendments to Hong Kong Financial Reporting Standards, expecting no significant effect on consolidated financial statements[73] - The group faced significant operational disruptions due to the ongoing impact of the COVID-19 pandemic, particularly in the civil engineering construction segment[83] Tax and Compliance - The group reported a tax expense of HKD 6.614 million for the current year, compared to HKD 128,000 in the previous year[78] - There were no significant contingent liabilities as of March 31, 2024, consistent with the previous year[19] - The group has maintained the minimum public float required by the listing rules as of the announcement date[13] - The group has not made any adjustments to the consolidated financial statements for prior years during the reporting year[23] - There were no significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the reporting year[126]

Revenue Performance - The group's revenue decreased from approximately HKD 2.104 billion to approximately HKD 1.877 billion, primarily due to a reduction in trading business by HKD 79.2 million[8]. - Revenue from construction-related segments surged from HKD 1.312 billion to approximately HKD 1.877 billion, driven by private construction projects in mainland China and Malaysia contributing HKD 88.2 million[8]. - For the six months ended September 30, 2023, the company reported revenue of HKD 187.74 million, a decrease of 10.7% from HKD 210.35 million in the same period of 2022[45]. - Total revenue for the six months ended September 30, 2023, was HKD 187,737,000, a decrease of 10.7% from HKD 210,353,000 for the same period in 2022[65]. - Revenue from external customers in Hong Kong decreased to HKD 99,524,000 from HKD 131,042,000, a drop of 24.1%[73]. Financial Performance - The gross loss for the period was approximately HKD 19.3 million, an improvement from a gross loss of approximately HKD 29.7 million in the same period last year[10]. - The group recorded a significant gross loss of approximately HKD 30.7 million from Hong Kong civil engineering projects, offset by a gross profit of approximately HKD 11 million from private construction contracts in Malaysia[10]. - The pre-tax loss for the period was HKD 49.76 million, compared to a pre-tax loss of HKD 43.55 million in the prior year[45]. - The total comprehensive loss for the period was HKD 72.86 million, down from HKD 81.29 million in the same period of 2022[47]. - The company recorded a total loss of HKD 51,535,000 for the period, compared to a loss of HKD 43,470,000 in the previous year, indicating a year-over-year increase in losses of approximately 18.8%[52]. - The loss for the period ended September 30, 2023, was HKD 51,535,000, which is a 18.5% increase from the loss of HKD 43,470,000 in the same period of 2022[83]. Expenses and Costs - Administrative expenses increased to approximately HKD 27.6 million from approximately HKD 17.6 million, mainly due to administrative costs related to construction contracts in Malaysia[13]. - The cost of services for the same period was HKD 206.99 million, resulting in a gross loss of HKD 19.26 million, compared to a gross loss of HKD 29.69 million in 2022[45]. - Employee costs for the reporting period were approximately HKD 53.4 million, compared to HKD 42.2 million for the six months ended September 30, 2022, representing a year-on-year increase of about 26%[19]. - Financial costs rose to approximately HKD 5.8 million from approximately HKD 4.2 million, attributed to rising bank loan interest rates[14]. - Financial costs for the six months ended September 30, 2023, amounted to HKD 5,842,000, an increase of 39.2% from HKD 4,195,000 in the same period of 2022[77]. Assets and Liabilities - As of September 30, 2023, total assets amounted to HKD 782.57 million, with current liabilities of HKD 562.00 million, resulting in a net current asset value of HKD 220.57 million[49]. - The company's net asset value decreased to HKD 266.79 million as of September 30, 2023, from HKD 339.66 million as of March 31, 2023[50]. - The total liabilities increased to HKD 579,415,000 from HKD 514,881,000, reflecting a rise of 12.5%[71]. - The company reported total bank borrowings of HKD 169,644,000 as of September 30, 2023, a slight decrease from HKD 170,022,000 as of March 31, 2023[104]. Cash Flow - As of September 30, 2023, the group's bank balance and cash amounted to approximately HKD 32.9 million, down from approximately HKD 47.6 million as of March 31, 2023[15]. - For the six months ended September 30, 2023, the company reported a net cash outflow from operating activities of HKD 39,476,000, an improvement from HKD 88,615,000 in the same period last year[54]. - The company’s cash and cash equivalents decreased to HKD 32,876,000 from HKD 41,583,000, representing a reduction of approximately 21.5%[54]. - The net cash used in investing activities was HKD 10,583,000, compared to HKD 4,048,000 in the previous year, indicating a significant increase in cash outflow for investments[54]. - The company raised HKD 43,774,000 from a related party loan during the financing activities, which contributed to a net cash inflow of HKD 35,680,000 for the period[54]. Governance and Compliance - The board confirmed compliance with the corporate governance code during the reporting period[21]. - The audit committee reviewed the unaudited condensed consolidated financial statements for the reporting period[24]. - The audit committee consists of three independent non-executive directors, ensuring proper oversight and governance[23]. - The company has not reported any changes in director information during the reporting period[37]. Shareholder Information - Major shareholders, including Huaguan Group, hold approximately 55.61% of the issued share capital, equating to 1,039,456,250 shares[30]. - The company has established a financing agreement of HKD 80 million with a bank, requiring Huaguan Group to maintain at least 25% ownership[34]. - The company did not declare any interim dividends for the reporting period, consistent with the previous period[38]. - No purchases, sales, or redemptions of the company's listed securities occurred during the reporting period[35]. Operational Challenges - The group faced challenges in the civil engineering sector due to labor shortages and rising material costs, leading to project delays and increased indirect costs[5]. - The group is exploring collaboration with a renowned international hotel brand to develop serviced apartments and residential units in the Philippines[6]. - As of September 30, 2023, the group employed 255 staff members, a decrease from 284 as of March 31, 2023[19]. Related Party Transactions - The group engaged in related party transactions with Jiangsu Provincial Construction Engineering Group Co., Ltd., including financial guarantees amounting to HKD 28,670,000 for the six months ended September 30, 2023, down from HKD 52,207,000 in the same period of 2022[110]. - The group had payables to a related company totaling HKD 72,930,000 as of September 30, 2023, with no prior balance reported for the same period in 2022[110]. - The total remuneration for key management personnel was approximately HKD 5,565,000 for the six months ended September 30, 2023, compared to HKD 3,176,000 for the same period in 2022[110].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何 部分內容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。 均 安 控 股 (cid:31)(cid:30)(cid:29)(cid:28)(cid:27) (cid:26)(cid:28)(cid:27) (cid:25)(cid:24)(cid:23)(cid:22)(cid:21)(cid:28)(cid:20)(cid:19) KWAN ON HOLDINGS LIMITED 均 安 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股票代號：1559） 截至二零二三年九月三十日止六個月之 中期業績公告 均安控股有限公司（「本公司」）之董事（「董事」）會（「董事會」）欣然公佈本公司及 其附屬公司（統稱為「本集團」）截至二零二三年九月三十日止六個月（「報告期間」） 之未經審核業績連同去年同期之比較數字如下： 簡明綜合損益及其他全面收益表 截至二零二三年九月三十日止六個月 截至九月三十日止六個月 二零二三年 二零二二年 附註 千港元 千港元 （未經審 ...

Financial Performance - The group recorded a gross loss of HKD 31.6 million for the fiscal year, including a total gross loss of HKD 54.4 million from delayed projects[7]. - The group incurred a loss of approximately HKD 112.2 million for the year, a substantial increase of 62.8% compared to a loss of approximately HKD 68.9 million in 2022[70]. - The group recorded a gross loss of approximately HKD 31.7 million in construction-related businesses, compared to a gross loss of approximately HKD 34.2 million in 2022, reflecting ongoing challenges in project profitability due to labor shortages and rising costs[57]. - The group reported trade business revenue of approximately HKD 94.6 million, a decrease from HKD 180 million in 2022, with a profit of approximately HKD 0.1 million compared to a loss of HKD 1.5 million in the previous year[59]. - Other income for the reporting year was approximately HKD 12.8 million, significantly up from approximately HKD 6 million in 2022, mainly due to one-time income sources[63]. Revenue Sources - The total value of contracts obtained in mainland China amounted to approximately HKD 399 million, with revenue generated from these contracts being HKD 216.5 million and a profit of HKD 4.3 million[12]. - The construction-related business reported segment revenue of approximately HKD 529.5 million, a significant increase of 57.9% compared to HKD 335.3 million in the previous year[48]. - Revenue from new contracts in mainland China and Malaysia contributed approximately HKD 216.5 million to the overall revenue growth[48]. - Revenue from waterworks contracts surged from approximately HKD 5.3 million to HKD 32.6 million, driven primarily by contract 2WSD21, which contributed around HKD 31.2 million[49]. - The group generated approximately 48% of its total revenue from government contracts during the reporting year, down from 63% in the previous year[178]. Contractual Obligations - The total amount of unfinished contracts as of March 31, 2023, was approximately HKD 760.1 million, an increase from HKD 715.5 million as of March 31, 2022[14]. - The total confirmed revenue from major contracts as of March 31, 2023, was HKD 2,036.9 million, with an estimated contract value of HKD 2,384.3 million[42]. - The company has submitted applications for further extensions on contract completion dates, which are currently under consideration by clients[45]. - The group has two major private construction projects and 12 government contracts on hand as of the reporting date[14]. Market Opportunities - The group is exploring opportunities in the mainland China and overseas construction markets to support growth and expansion[8]. - The group is in discussions with a well-known international hotel brand to develop serviced apartments and residential properties in the Philippines[13]. - The company is exploring opportunities in different markets, including property development in the Philippines and chemical materials trading in mainland China, facing various operational risks[187]. Operational Challenges - The group anticipates continued pressure on performance in the construction-related sectors due to the ongoing impact of the pandemic[14]. - The company operates in a labor-intensive industry, and any labor shortages or significant increases in labor costs could adversely affect operational and financial performance[182]. - Political disagreements and delays in public project approvals may lead to operational delays, negatively impacting business performance[186]. - The company faces risks related to reliance on government contracts, which could adversely affect its business and profitability if not secured[178]. Governance and Management - The board of directors consists of six members, including three executive directors and three independent non-executive directors, ensuring a balanced representation[98]. - The company has adopted a board diversity policy since its listing date, with measurable targets and progress disclosed[104]. - The board plans to appoint at least one female director by December 31, 2024, despite currently having a 100% male board and approximately 18% female employees[109]. - The company has held two regular board meetings and various committee meetings during the reporting year, ensuring proper governance and decision-making processes[112]. - The board acknowledges its responsibility to prepare the consolidated financial statements to reflect the group's affairs fairly and accurately[142]. Risk Management - The group has established a risk management framework that includes the board, audit committee, and risk management committee to oversee risk management effectiveness[146]. - The risk management process includes identifying potential risks, assessing their impact, and implementing response plans[148]. - The risk management committee meets at least once a year to review the overall risk management strategy and effectiveness[146]. - The Risk Management Committee reviewed the group's risk management work report for 2022 and updated the major risks and key risk indicators for 2023[139]. Employee and Compensation - The group employed a total of 284 employees, comprising 191 full-time and 93 temporary staff, with employee costs reaching approximately HKD 90 million, up from HKD 80.9 million in 2022[86]. - During the reporting year, the remuneration of directors and senior management ranged from less than HKD 1,000,000 to over HKD 2,000,000, with 2 members earning below HKD 1,000,000 and 3 members earning between HKD 1,000,001 and HKD 1,500,000[141]. Environmental and Social Responsibility - The company has implemented various environmental protection measures, including double-sided printing and encouraging paper recycling[164]. - The company is committed to sustainable practices and has implemented environmental management plans for all contracts[188]. - The company encourages employees to protect the environment and raises awareness of environmental issues[164]. - The company has established a whistleblowing policy to allow employees and other stakeholders to raise concerns confidentially and anonymously[169]. Shareholder Relations - The company continues to enhance investor relations and communication with existing and potential investors[160]. - The company has conducted an annual review of its shareholder communication policy, concluding it was effectively implemented for the year ending March 31, 2023[161]. - The company has not experienced any significant changes in its main business activities during the reporting year[175].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何 部分內容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。 均 安 控 股 (cid:31)(cid:30)(cid:29)(cid:28)(cid:27) (cid:26)(cid:28)(cid:27) (cid:25)(cid:24)(cid:23)(cid:22)(cid:21)(cid:28)(cid:20)(cid:19) KWAN ON HOLDINGS LIMITED 均 安 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股票代號：1559） 截至二零二三年三月三十一日止年度之 全年業績公告 均安控股有限公司（「本公司」）之董事（「董事」）會（「董事會」）欣然公佈本公司及 其附屬公司（統稱為「本集團」）截至二零二三年三月三十一日止年度（「報告年度」） 之經審核業績連同去年同期之經審核比較數字如下： ...

Revenue Performance - The company's revenue decreased from approximately HKD 287.6 million to about HKD 210.3 million during the reporting period, primarily due to a decline in trading business volume[8]. - Trading business revenue was approximately HKD 29.7 million, down about HKD 82.1 million from approximately HKD 111.8 million in the same period last year[8]. - Construction-related revenue increased from approximately HKD 175.9 million to about HKD 180.6 million, mainly due to contributions from newly awarded private construction projects in mainland China, which generated about HKD 49.1 million[8]. - Revenue for the six months ended September 30, 2022, was HKD 210,353,000, a decrease of 27% compared to HKD 287,639,000 for the same period in 2021[58]. - Total revenue for the six months ended September 30, 2022, was HKD 210,353 thousand, with external sales from construction at HKD 180,630 thousand and trade at HKD 29,723 thousand[83]. - Revenue from civil engineering and building maintenance contracts recognized over time was HKD 180,630,000, an increase of 2.4% from HKD 175,871,000 in the previous year[100]. - Revenue from chemical materials trading recognized at a point in time was HKD 29,723,000, a significant decrease of 73.4% from HKD 111,768,000 in the previous year[100]. Financial Losses - The gross loss for the reporting period was approximately HKD 29.7 million, compared to a gross loss of about HKD 23.3 million in the same period last year[11]. - The total loss for the reporting period was approximately HKD 43.8 million, compared to about HKD 37.2 million in the same period last year[17]. - The company reported a loss before tax of HKD 43,552,000, compared to a loss of HKD 37,155,000 in the previous year, indicating a 17% increase in losses[58]. - The company reported a loss of HKD 43,470,000 for the six months ended September 30, 2022, compared to a loss of HKD 36,568,000 for the same period in 2021, indicating an increase in loss of approximately 19.5%[106]. - Basic and diluted loss per share was HKD 2.71, compared to HKD 2.31 in the prior year, reflecting a 17% increase in loss per share[60]. Cash Flow and Liquidity - As of September 30, 2022, the group's bank balance and cash amounted to approximately HKD 41.6 million, a decrease from approximately HKD 149.4 million as of March 31, 2022[18]. - The company's cash and cash equivalents dropped significantly from HKD 149,353,000 to HKD 41,583,000, a decrease of approximately 72%[62]. - For the six months ended September 30, 2022, the net cash used in operating activities was HKD (88,615) thousand, compared to HKD (83,919) thousand in the same period of 2021, reflecting an increase of 8.5%[70]. - The net cash used in investing activities was HKD (4,048) thousand, significantly improved from HKD (14,616) thousand in the previous year, indicating a reduction of 72.3%[70]. - The net cash used in financing activities was HKD (14,784) thousand, a decrease of 55.1% from HKD (32,914) thousand in the prior year[70]. - The company reported a net decrease in cash and cash equivalents of HKD (107,447) thousand for the period, an improvement from HKD (131,449) thousand in the previous year[70]. Assets and Liabilities - Non-current assets decreased to HKD 81,107,000 from HKD 90,940,000, a decline of approximately 11%[62]. - Current assets decreased to HKD 642,895,000 from HKD 718,000,000, a reduction of about 10%[62]. - Total liabilities decreased from HKD 335,744,000 to HKD 303,681,000, a reduction of about 10%[62]. - The company's equity attributable to owners decreased from HKD 427,527,000 to HKD 389,126,000, reflecting a decline of approximately 9%[64]. - The group had no capital commitments or significant contingent liabilities as of September 30, 2022[21]. Shareholder and Capital Structure - As of September 30, 2022, the group's issued share capital was approximately HKD 18.7 million, with a total of 1,869,159,962 ordinary shares issued[22]. - The company completed a rights issue on September 19, 2022, raising approximately HKD 42.77 million, with a net amount of approximately HKD 41.27 million[49]. - The intended use of the net proceeds from the rights issue includes HKD 33.02 million (80%) for construction projects in Hong Kong and HKD 8.25 million (20%) for general working capital[52]. - The total issued and paid-up ordinary shares increased to 1,869,159,962 shares as of September 30, 2022, from 1,584,000,000 shares on April 1, 2021[137]. - As of September 30, 2022, the company has a major shareholder, Huaguan Group Limited, holding 1,039,456,250 shares, representing 55.61% of the issued share capital[40]. Operational Performance - The company continues to explore potential business opportunities in mainland China, despite recent challenges due to the global economic downturn[7]. - The company plans to continue focusing on construction and property development, with ongoing investments in new projects and technologies to enhance operational efficiency[72]. - The segment performance for construction showed a loss of HKD (32,220) thousand, while property development and trade reported losses of HKD (354) thousand and a profit of HKD 166 thousand, respectively[83]. Employee and Administrative Costs - Administrative expenses were approximately HKD 17.6 million, relatively stable compared to about HKD 17.2 million in the same period last year[13]. - The group employed 267 staff as of September 30, 2022, an increase from 211 as of March 31, 2022, with employee costs for the reporting period amounting to approximately HKD 42.2 million[27]. - The management's compensation during the reporting period was approximately HKD 3,176,000, compared to HKD 2,658,000 for the same period in 2021[141]. Financing and Borrowings - The group pledged bank deposits of approximately HKD 85.3 million as of September 30, 2022, to secure bank borrowings of approximately HKD 143 million[24]. - The company reported a total bank borrowings of HKD 180,524,000 as of September 30, 2022, down from HKD 235,842,000 as of March 31, 2022, a decrease of 23.5%[131]. - The company has entered into financing agreements totaling HKD 80 million and HKD 30 million with banks, requiring Huaguan Group to maintain at least 25% shareholding[44]. - The group had unused bank financing of approximately HKD 52,600,000 as of September 30, 2022, down from HKD 103,675,000 as of March 31, 2022[136]. Risks and Compliance - The group had no significant foreign exchange risks aside from receivables amounting to approximately HKD 26.4 million in Thai Baht and HKD 147.1 million in Philippine Pesos as of September 30, 2022[21]. - The group has not violated any covenants related to the drawn loans as of September 30, 2022[135]. - The group provided financial guarantees to Jiangsu Provincial Construction Engineering Group Co., Ltd. amounting to HKD 52,207,000 during the reporting period[139]. - The group has sufficient insurance coverage to mitigate potential losses from ongoing litigation, with minimal likelihood of significant adverse impact[142]. Other Notable Information - The company did not declare any interim dividends for the reporting period[48]. - The company has not reported any changes in the board of directors during the reporting period[47]. - The company has not granted any share options under its share option scheme since its adoption on March 16, 2015[56]. - The company did not engage in any significant acquisitions or disposals during the reporting period[23]. - No significant events occurred after September 30, 2022[143].