Financial Performance - Total revenue decreased by approximately HKD 99.0 million or 34.2% to about HKD 190.2 million for the six months ended September 30, 2022, compared to approximately HKD 289.2 million for the same period in 2021[6] - Loss attributable to owners of the company decreased by approximately HKD 2.0 million or 31.8% to about HKD 4.2 million for the six months ended September 30, 2022[6] - Revenue from private sector projects was approximately HKD 170.8 million, accounting for about 89.8% of total revenue, down from 95.0% in the previous year[6] - Revenue from public sector projects increased to approximately HKD 19.4 million, representing about 10.2% of total revenue, up from 5.0% in the previous year[6] - Gross profit decreased by approximately HKD 1.0 million or 49.0% to about HKD 1.0 million, with gross margin dropping from approximately 0.7% to 0.5%[17] - The overall performance was negatively impacted by the competitive building template industry and delays in project commencement due to the COVID-19 pandemic[9] - The company reported a loss before tax of HKD 4,238,000, an improvement from a loss of HKD 6,216,000 in the prior year[64] - The company reported a loss of HKD 4,238,000 for the six months ended September 30, 2022, compared to a loss of HKD 6,216,000 for the same period in 2021, representing a 31.9% improvement in losses year-over-year[98] Contracts and Projects - The group secured four new contracts during the review period, with a total contract value of approximately HKD 242.9 million[7] - The group generated approximately HKD 7.5 million in revenue from three public housing template engineering contracts during the review period[12] Income and Expenses - Other income increased from approximately HKD 1.618 million to approximately HKD 5.862 million, a growth of about 262.3% due to government subsidies of approximately HKD 15.2 million and fair value losses on securities investments of approximately HKD 10.6 million[18] - Other losses rose from approximately HKD 3,000 to approximately HKD 6,000, primarily attributed to net foreign exchange losses[19] - Administrative expenses increased from approximately HKD 8.6 million to approximately HKD 9.9 million, reflecting a rise of about 14.7% due to increased leasing equipment costs[20] - The company recognized government grants of HKD 15,205,000 during the six months ended September 30, 2022, with no such grants reported in the previous year[91] Cash and Liquidity - As of September 30, 2022, the group had cash and cash equivalents of approximately HKD 99.0 million, down about 27.4% from HKD 136.4 million as of March 31, 2022, due to increased securities investments and direct costs[25] - The capital-to-equity ratio as of September 30, 2022, was approximately 100.1%, up from about 97.1% as of March 31, 2022[25] - The group maintained a prudent funding and treasury policy, with surplus funds deposited in licensed banks to manage liquidity risk[26] - The net cash used in operating activities was HKD (1,070,000), a significant improvement from HKD (15,898,000) in the same period of 2021[75] - Total cash and cash equivalents decreased to HKD 99,035,000 from HKD 165,217,000 year-over-year, reflecting a decline of 40%[75] Employee and Management - The group employed 902 employees as of September 30, 2022, a decrease from 1,152 employees as of September 30, 2021, primarily due to project completions[42] - Total salary costs recognized in the profit and loss for the six months ended September 30, 2022, amounted to approximately HKD 125.6 million, down from approximately HKD 145.2 million for the same period in 2021, reflecting a decrease of about 13.2%[42] - The total compensation for key management personnel for the six months ended September 30, 2022, was HKD 3,319,000, a decrease from HKD 3,578,000 in the prior year[113] Assets and Liabilities - Total assets decreased to HKD 346,131,000 as of September 30, 2022, from HKD 379,276,000 as of March 31, 2022[67] - Current liabilities decreased to HKD 194,512,000 from HKD 222,405,000, indicating improved liquidity[67] - The net asset value as of September 30, 2022, was HKD 149,986,000, down from HKD 154,224,000 as of March 31, 2022[69] - Trade receivables increased to HKD 39,129,000 from HKD 34,394,000, a rise of 13.4%[100] - Contract assets decreased to HKD 117,662,000 from HKD 126,088,000, a decline of 6.5%[102] - Trade payables decreased significantly to HKD 3,289,000 from HKD 13,491,000, a reduction of 75.6%[104] Governance and Compliance - The company has complied with all relevant corporate governance code provisions during the six months ended September 30, 2022[50] - The audit committee, composed of three independent non-executive directors, has reviewed the financial information and interim results announcement for the six months ended September 30, 2022[52] Investments - The group’s major investments included a 0.0079% stake in Hong Kong Exchanges and Clearing Limited, with a fair value decrease of approximately HKD 6.304 million[31] - The group’s investments in major companies did not constitute more than 5% of total assets, with Hong Kong Exchanges and Clearing Limited representing 7.8% of total assets[37] Future Outlook - The company plans to continue exploring new clients and implementing strict cost control measures to maintain competitiveness[12] - The company has no major future investment or capital asset plans beyond those disclosed in the prospectus dated May 31, 2017[41]

Financial Performance - Total revenue for the year ended March 31, 2022, increased by approximately HKD 77.0 million or 14.7% to approximately HKD 600.9 million from approximately HKD 523.9 million for the year ended March 31, 2021[8]. - Gross profit for the year ended March 31, 2022, increased by approximately HKD 4.2 million or approximately 99.5% to approximately HKD 8.5 million, driven by the increase in total revenue[8]. - The company recorded a loss attributable to equity shareholders of approximately HKD 12.5 million for the year ended March 31, 2022, compared to a profit of approximately HKD 2.6 million for the year ended March 31, 2021[8]. - Basic loss per share for the year ended March 31, 2022, was approximately HKD 0.83 cents, compared to basic earnings of approximately HKD 0.18 cents per share for the previous year[19]. - Other income decreased significantly by approximately 82.4% from HKD 23,757,000 to HKD 4,188,000, primarily due to the absence of government subsidies[32]. - Administrative expenses were reduced by about 3.6%, from HKD 21,355,000 to HKD 20,595,000, mainly due to a decrease in headquarters staff salaries[34]. - Financing costs increased by approximately 7.3%, rising from HKD 2,796,000 to HKD 3,001,000, attributed to higher lease liabilities interest[35]. - The company reported a loss attributable to equity shareholders of approximately HKD 12,497,000 for the year, compared to a profit of HKD 2,631,000 in the previous year[37]. - As of March 31, 2022, the company had cash and cash equivalents of approximately HKD 136,421,000, down from HKD 186,621,000 a year earlier[39]. - The capital-to-equity ratio increased to approximately 97.1% from 86.6% in the previous year, indicating a higher level of financial leverage[39]. Revenue Breakdown - Revenue from private sector projects for the year ended March 31, 2022, was approximately HKD 558.3 million, accounting for about 92.9% of total revenue, compared to 86.3% in the previous year[16]. - Revenue from public sector projects for the year ended March 31, 2022, was approximately HKD 42.6 million, accounting for about 7.1% of total revenue, down from 13.7% in the previous year[16]. - The number of projects contributing to revenue increased from 42 to 50, with one project exceeding HKD 100,000,001 and 12 projects between HKD 10,000,001 and HKD 50,000,000[27]. Business Strategy and Outlook - The company plans to diversify its business scope and client base to mitigate market risks amid increasing competition and rising costs in the template engineering industry[10]. - The outlook for the template engineering industry remains challenging with increased competition and uncertainty in labor and material costs[10]. - The company will continue to adopt prudent capital management and liquidity risk management to maintain sufficient buffers against future challenges[10]. Corporate Governance - The company has adopted the corporate governance code as per the listing rules, aiming to maintain high standards of corporate governance to protect shareholder interests[84]. - The company confirmed compliance with the applicable code provisions of the corporate governance code for the year ended March 31, 2022[85]. - The board consists of five executive directors and three independent non-executive directors, ensuring a high level of independence for effective independent judgment[90]. - The company has established four board committees: Audit Committee, Nomination Committee, Remuneration Committee, and Investment Committee to oversee various aspects of the company's affairs[87]. - The company has a commitment to transparency, accountability, and safeguarding shareholder interests through effective internal controls and risk management procedures[84]. - The board consists of eight directors, with one female member, highlighting the need for improved gender diversity[123]. - The company aims to enhance board diversity by increasing the proportion of female members and ensuring a balanced representation of different backgrounds[124]. Environmental, Social, and Governance (ESG) Initiatives - The report period covers from April 1, 2021, to March 31, 2022, detailing the company's ESG activities and future plans[149]. - The group has established an ESG working group to monitor ESG matters, which includes core members from various departments[151]. - The group aims to maintain or reduce total emissions density by the end of the fiscal year 2023 compared to the 2022 baseline[168]. - The group has not encountered any significant non-compliance with environmental laws and regulations during the reporting period[167]. - The group conducts regular meetings to evaluate the effectiveness of current policies and procedures related to ESG[151]. Employee Management - The total employee count as of March 31, 2022, was 941, down from 1,198 in the previous year, indicating a reduction of approximately 21.5%[61]. - The employee turnover rate for 2022 was 25.99%, with a breakdown of 28.00% for males and 44.17% for employees under 30 years old[197]. - The company aims to maintain competitive employee compensation and benefits to attract and retain talent[196]. - Safety training is mandatory for all employees working on construction sites[199]. Safety Management - A safety plan is required for each construction project, which is communicated to employees and subcontractors[199]. - The group recorded 21 work-related injuries during the reporting period, an increase from 12 in the previous year[199]. - The group has not recorded any work-related fatalities over the past three years, including the reporting period[199]. - The safety management system adopted by the group has been confirmed as adequate and effective[199].

Financial Performance - Total revenue increased by approximately HKD 83.3 million or 40.5% to approximately HKD 289.2 million for the six months ended September 30, 2021, compared to approximately HKD 205.9 million for the same period in 2020[5] - Loss attributable to owners of the company decreased by approximately HKD 1.3 million or 17.0% to approximately HKD 6.2 million for the six months ended September 30, 2021, from approximately HKD 7.5 million for the same period in 2020[20] - Revenue from private sector projects was approximately HKD 274.8 million, accounting for about 95.0% of total revenue, compared to 83.3% in the same period of 2020[5] - Revenue from public sector projects was approximately HKD 14.4 million, accounting for about 5.0% of total revenue, down from approximately 16.7% in the same period of 2020[5] - Gross profit increased by approximately HKD 0.6 million or 42.5% to approximately HKD 2.0 million, maintaining a gross margin of about 0.7% for both periods[15] - The company reported revenue of HKD 289,221,000 for the six months ended September 30, 2021, an increase of 40.3% compared to HKD 205,861,000 in the same period of 2020[52] - Gross profit for the same period was HKD 2,039,000, up 42.5% from HKD 1,431,000 year-on-year[52] - The company incurred a loss before tax of HKD 6,216,000, an improvement from a loss of HKD 8,731,000 in the previous year, representing a reduction of 28.9%[52] - For the six months ended September 30, 2021, the company reported a total loss of HKD 6,216,000, compared to a loss of HKD 7,485,000 for the same period in 2020, representing a 17% improvement in loss[59] - The company reported a total comprehensive loss of HKD 6,216,000 for the six months ended September 30, 2021, with a pre-tax loss of HKD 6,216,000[71] Expenses and Costs - Administrative expenses decreased by approximately HKD 1.8 million or 17.6% to approximately HKD 8.6 million for the six months ended September 30, 2021, from approximately HKD 10.4 million for the same period in 2020[18] - The total salary cost recognized in the profit and loss for the six months ended September 30, 2021, was approximately HKD 145.2 million, compared to HKD 130.2 million for the same period in 2020, representing an increase of about 11.5%[32] - Employee costs, including directors' remuneration, rose to HKD 145,228,000 for the six months ended September 30, 2021, compared to HKD 130,195,000 in 2020, marking an increase of 11.5%[83] - Financing costs for the six months ended September 30, 2021, totaled HKD 1,408,000, slightly down from HKD 1,430,000 in 2020, a decrease of 1.5%[81] - Depreciation of property, plant, and equipment increased to HKD 8,131,000 in 2021 from HKD 4,553,000 in 2020, a significant increase of 78.5%[83] Cash and Liquidity - As of September 30, 2021, the group had cash and cash equivalents of approximately HKD 165.2 million, a decrease of about 11.5% from HKD 186.6 million as of March 31, 2021[23] - The company’s cash and cash equivalents decreased from HKD 186,621,000 at the beginning of the period to HKD 165,217,000 at the end of the period, a reduction of 11%[62] - The company maintained a prudent funding and treasury policy, closely monitoring its liquidity position to meet funding needs[24] - The net cash used in operating activities for the six months ended September 30, 2021, was HKD 15,898,000, an increase of 61% compared to HKD 9,873,000 in the prior year[62] Assets and Liabilities - Total assets decreased to HKD 355,942,000 as of September 30, 2021, down from HKD 391,130,000 as of March 31, 2021[54] - The company’s total liabilities decreased from HKD 224,409,000 as of March 31, 2021, to HKD 195,437,000 as of September 30, 2021, a reduction of approximately 13%[77] - Current liabilities decreased to HKD 191,435,000 from HKD 223,943,000, indicating improved liquidity management[54] - Trade receivables as of September 30, 2021, were HKD 50,932,000, down 36.2% from HKD 79,737,000 as of March 31, 2021[86] - Contract assets as of September 30, 2021, amounted to HKD 98,740,000, an increase of 21.8% from HKD 81,059,000 as of March 31, 2021[88] Shareholder and Capital Structure - The company did not declare any interim dividend for the six months ended September 30, 2021[7] - Major shareholders collectively hold 75% of the issued share capital, indicating a concentrated ownership structure[44] - The total issued and paid-up share capital remained unchanged at HKD 15,000,000 as of September 30, 2021, with 1,500,000 shares issued[94] Contracts and Projects - The company secured a new contract with a total contract value of approximately HKD 17.5 million during the review period[6] - The company will continue to focus on cost control measures and project management efficiency to maintain competitiveness in the market[10] Market Outlook - The outlook for the private property market in Hong Kong remains uncertain, potentially leading to conservative development plans and pricing strategies by developers[8] Other Information - There were no significant acquisitions or disposals of subsidiaries or associates during the reporting period[29] - The company has not conducted any significant subsequent events after September 30, 2021, until the report date[49] - The company has not purchased, sold, or redeemed any of its securities during the six months ended September 30, 2021[47] - The company has a share option scheme in place since May 23, 2017, but no options have been granted, exercised, or lapsed as of September 30, 2021[48] - The company has pledged 1,125,000,000 shares as collateral for a loan of HKD 500,000,000 from a third party[45] - The company did not declare or propose any dividends during the interim period[84] - Related party transactions included purchases from Jingfu Plastic Co., amounting to HKD 4,050,000, up from HKD 2,823,000 in the previous year, reflecting a growth of about 43.5%[94]

Financial Performance - Total revenue increased by approximately HKD 89.3 million or 20.5% to approximately HKD 523.9 million for the year ended March 31, 2021, compared to approximately HKD 434.6 million for the previous year[5]. - Gross profit decreased by approximately HKD 8.3 million or 66.0% to approximately HKD 4.3 million due to rising material costs and supply shortages[5]. - Profit attributable to equity shareholders increased by approximately HKD 13.4 million or 124.1% to approximately HKD 2.6 million, compared to a loss of approximately HKD 10.8 million in the previous year[5]. - Basic earnings per share for the year ended March 31, 2021, were approximately HKD 0.18, compared to a loss per share of approximately HKD 0.72 in the previous year[15]. - The net profit attributable to equity shareholders was approximately HKD 2,631,000 for the year ended March 31, 2021, compared to a loss of approximately HKD 10,831,000 for the year ended March 31, 2020[34]. - The group's gross profit decreased from approximately HKD 12,606,000 in the year ended March 31, 2020, to approximately HKD 4,283,000 in the year ended March 31, 2021, representing a decline of about 66.0%[28]. - The gross profit margin fell from approximately 2.9% in the year ended March 31, 2020, to approximately 0.8% in the year ended March 31, 2021, primarily due to rising timber costs and increased project costs[28]. - Other income increased significantly from approximately HKD 449,000 in the year ended March 31, 2020, to approximately HKD 23,757,000 in the year ended March 31, 2021, marking a growth of about 5,191.1%[29]. Project and Revenue Sources - The number of projects contributing to revenue decreased from 46 to 42, with five large template projects at peak construction contributing significantly to revenue growth[21]. - Private sector projects generated approximately HKD 452.2 million, accounting for about 86.3% of total revenue, while public sector projects contributed approximately HKD 71.7 million, or 13.7%[13]. - The company had 14 customers contributing to total revenue of approximately HKD 523.9 million, down from 17 customers in the previous year[16]. - The company will focus on diversifying its project types to include public housing construction in addition to private sector projects[13]. Challenges and Strategic Plans - The company faced challenges due to COVID-19, which affected the business environment and led to material supply shortages, increasing costs and project delays[6]. - The company plans to continue expanding its range of construction projects and customer base to mitigate market risks[7]. Financial Position and Expenses - As of March 31, 2021, the group had cash and cash equivalents of approximately HKD 186,621,000, slightly down from approximately HKD 187,521,000 as of March 31, 2020[37]. - The capital debt ratio as of March 31, 2021, was approximately 86.6%, a slight improvement from 88.2% as of March 31, 2020[37]. - Administrative expenses decreased from approximately HKD 21,532,000 in the year ended March 31, 2020, to approximately HKD 21,355,000 in the year ended March 31, 2021, a reduction of about 0.8%[31]. - Financing costs increased from approximately HKD 2,730,000 in the year ended March 31, 2020, to approximately HKD 2,796,000 in the year ended March 31, 2021, an increase of about 2.4%[32]. - The total salary cost for the year ended March 31, 2021, was approximately HKD 194,334,000, compared to HKD 164,543,000 for the year ended March 31, 2020, representing an increase of about 18%[52]. Corporate Governance - The company has maintained high standards of corporate governance to protect shareholder interests and ensure transparency and accountability[75]. - The board confirms compliance with the corporate governance code since the listing date on June 16, 2017, up to the report date[75]. - The board consists of five executive directors and three independent non-executive directors, ensuring a high level of independence with independent directors making up over one-third of the board[79][80]. - All independent non-executive directors have confirmed their independence according to the listing rules, with no significant financial or familial relationships among board members, except for one[82]. - The board has held regular meetings, with attendance rates for the fiscal year ending March 31, 2021, showing 100% attendance by all executive directors at shareholder meetings[85]. - The audit committee, established on May 23, 2017, is composed of three independent non-executive directors, ensuring compliance with corporate governance standards[94]. - The company has implemented a continuous professional development plan for all directors, ensuring they stay updated on relevant regulations and governance practices[91]. - The board is responsible for overseeing the group's overall strategy, approving annual development plans and budgets, and monitoring financial and operational performance[88][89]. - The roles of the chairman and the CEO are clearly separated, with Mr. Liang Zhi Jie serving as chairman and Mr. Zhou Di Jiang as CEO, ensuring distinct responsibilities[90]. - The company has established a service contract for independent non-executive directors, which is renewable annually unless terminated with a one-month notice[82]. - The board has authorized management to handle daily operations while retaining oversight responsibilities for significant decisions[89]. - The company has arranged liability insurance for its directors and senior management to protect their interests[84]. ESG and Environmental Practices - The report period covers from April 1, 2020, to March 31, 2021, detailing the company's ESG activities, challenges faced, and measures taken[138]. - The company adheres to the ESG reporting guidelines set by the Hong Kong Stock Exchange, focusing on importance, quantification, and consistency in reporting[141]. - The company aims to strengthen communication and collaboration with stakeholders through the publication of the ESG report, promoting sustainable development[143]. - The total greenhouse gas emissions for the reporting year amounted to approximately 145,213 kg CO2 equivalent, an increase from 104,428 kg CO2 equivalent in the previous year, representing a 39% rise[158]. - Direct greenhouse gas emissions (Scope 1) were reported at 126,376 kg CO2 equivalent, up from 78,018 kg CO2 equivalent, indicating a 62% increase year-over-year[158]. - Nitrogen oxides emissions increased to 431,129 grams from 223,741 grams, reflecting a 93% increase[154]. - The company implemented a "green policy" aimed at reducing energy consumption and enhancing environmental awareness among employees[153]. - The company did not report any hazardous waste generation during its operations, adhering to environmental regulations[162]. - The company has adopted aluminum alloy reusable templates in construction projects to minimize the use of traditional wooden templates, promoting recycling[161]. - The total indirect greenhouse gas emissions (Scope 2) decreased to 18,714 kg CO2 equivalent from 26,410 kg CO2 equivalent, showing a 29% reduction[158]. - The company has established guidelines for the management and disposal of hazardous waste, despite not generating any during its operations[162]. - The company has engaged qualified waste management contractors to ensure compliance with waste disposal regulations[161]. - The company reported no non-compliance with environmental laws and regulations during the reporting period[153]. - Total energy consumption for the reporting period was approximately 562,981 kWh, with direct energy consumption at 512,402 kWh and indirect energy consumption at 50,579 kWh[167][168]. - The company implemented energy-saving measures, including using energy-efficient equipment and turning off unnecessary lighting and appliances when not in use[169]. - Water usage during the reporting period was 294.3 cubic meters, with a water usage density of 147.2 cubic meters per location[170]. Employee and Safety Management - The company reported 12 fatal injury incidents on project sites during the reporting period, with no reported workdays lost due to injuries[180]. - The company has established a safety management system to mitigate safety risks to acceptable levels, with regular audits conducted by registered safety auditors[178]. - The company has taken measures to ensure employee health during the COVID-19 pandemic, safeguarding both employees and the surrounding community[181]. - The company reported no significant non-compliance with employment laws and regulations during the reporting period[186]. - The company maintains a zero-tolerance policy towards forced labor and child labor, ensuring all employees meet legal age and identification requirements[185]. - The company emphasizes the importance of quality suppliers and subcontractors, requiring proof of sustainable sourcing for materials like timber[187]. Corporate Social Responsibility - The company has made charitable donations totaling HKD 46,000 to various organizations during the reporting period[192]. - The company aims to enhance its corporate social responsibility by increasing awareness of environmental protection among employees and subcontractors[191]. - The company has not reported any major breaches of anti-bribery laws or related regulations during the reporting period[190]. Business Focus and Dividends - The company’s primary business focus is on providing formwork and building construction services[194]. - The company did not declare a final dividend for the year ending March 31, 2021[200].

Financial Performance - Total revenue decreased by approximately HKD 17.1 million or 7.7% to about HKD 205.9 million for the six months ended September 30, 2020, compared to HKD 223.0 million for the same period in 2019[7] - Loss attributable to owners increased by HKD 8.5 million or 834.5% to approximately HKD 7.5 million, compared to a profit of about HKD 1.0 million in the same period of 2019[7] - Gross profit decreased by approximately HKD 11.2 million or 88.6% to about HKD 1.4 million, with gross margin dropping from 5.6% to 0.7%[16] - The company incurred a loss before tax of HKD 8,731,000, compared to a profit of HKD 1,254,000 in the previous year[53] - The company reported a net cash outflow from operating activities of HKD 9,873,000 for the six months ended September 30, 2020, compared to a cash inflow of HKD 18,040,000 for the same period in 2019[60] - The company reported a loss attributable to shareholders of HKD 7,485,000 for the six months ended September 30, 2020, compared to a profit of HKD 1,019,000 in the same period of 2019[90] Revenue Breakdown - Revenue from private sector projects was approximately HKD 171.6 million, accounting for about 83.3% of total revenue, compared to 66.2% in 2019[11] - Revenue from public sector projects was approximately HKD 34.3 million, accounting for about 16.7% of total revenue, down from 33.8% in 2019[11] - The company reported revenue of HKD 205,861,000 for the six months ended September 30, 2020, a decrease of 7.66% compared to HKD 222,971,000 in the same period of 2019[53] Expenses and Costs - Administrative expenses rose by approximately HKD 0.3 million or 3.7% to about HKD 10.4 million[19] - The total salary cost recognized in the profit and loss for the six months ended September 30, 2020, was approximately HKD 130.2 million, compared to approximately HKD 114.2 million for the same period in 2019[34] - Employee costs, including director remuneration, rose to HKD 130,195,000 from HKD 114,211,000 in the previous year[88] Assets and Liabilities - As of September 30, 2020, the group had cash and cash equivalents of approximately HKD 164.4 million, down about 12.3% from HKD 187.5 million as of March 31, 2020[24] - The total liabilities as of September 30, 2020, were HKD 199,388,000, a slight decrease from HKD 202,466,000 as of March 31, 2020[81] - The company’s total assets decreased to HKD 355,993,000 as of September 30, 2020, from HKD 366,556,000 as of March 31, 2020, indicating a decline of about 2.9%[55] Contracts and Projects - The group secured 5 new contracts during the review period, with a total contract value of approximately HKD 433.8 million[7] - The segment profit for the template engineering division was a loss of HKD 3,516,000, while the building construction segment reported a profit of HKD 39,000, resulting in a total segment loss of HKD 3,477,000[74] Cash Flow and Investments - The company’s net cash used in investing activities was HKD 10,610,000 for the six months ended September 30, 2020, compared to HKD 1,305,000 for the same period in 2019, showing a significant increase in cash outflow[60] - The company has no bank borrowings as of September 30, 2020[24] Shareholder Information - Major shareholders, including Mr. Liang and Ms. Cao, collectively hold 75% of the company's issued share capital[48] - The company did not recommend any interim dividend for the six months ended September 30, 2020[8] Other Financial Metrics - The capital to equity ratio as of September 30, 2020, was approximately 91.6%, an increase from about 88.2% as of March 31, 2020[24] - The company recorded a credit loss provision of HKD 425,000 against trade receivables as of September 30, 2020, compared to HKD 533,000 as of March 31, 2020[91]

Financial Performance - Total revenue decreased by approximately HKD 416.0 million or 48.9% to about HKD 434.6 million for the year ended March 31, 2020, compared to approximately HKD 850.6 million for the previous year[5]. - Loss attributable to equity shareholders decreased by approximately HKD 8.5 million or 44.0% to about HKD 10.8 million for the year ended March 31, 2020, compared to approximately HKD 19.3 million for the previous year[5]. - The number of projects contributing to total revenue decreased from 49 to 46, with total revenue of approximately HKD 434.6 million for the year ended March 31, 2020[6]. - Revenue from private sector projects was approximately HKD 331.4 million, accounting for about 76.2% of total revenue, while public sector projects contributed approximately HKD 103.2 million, accounting for about 23.8%[12]. - The basic loss per share for the year ended March 31, 2020, was approximately HKD 0.72, compared to approximately HKD 1.29 for the previous year[14]. - The company had 17 customers contributing to total revenue of approximately HKD 434.6 million, down from 19 customers in the previous year[15]. - The group's gross profit decreased by approximately HKD 35,079,000 or about 73.6% to approximately HKD 12,606,000 for the year ended March 31, 2020, compared to approximately HKD 47,685,000 for the previous year[22]. - The gross profit margin fell from approximately 5.6% for the year ended March 31, 2019, to approximately 2.9% for the year ended March 31, 2020, primarily due to increased labor costs and competitive contract conditions in the market[22]. - Other income decreased by approximately HKD 1,955,000 or about 81.3% to approximately HKD 449,000 for the year ended March 31, 2020, mainly due to a reduction in rental income[23]. - Administrative expenses decreased by approximately HKD 2,423,000 or about 10.1% to approximately HKD 21,532,000 for the year ended March 31, 2020, attributed to a decline in professional fees and entertainment expenses[25]. Market Challenges - The company faced challenges due to the COVID-19 pandemic and local social events, which led to delays in construction progress[5]. - The company plans to continue expanding its range of construction projects and customer base to mitigate market risks[6]. - The group has experienced significant increases in construction material costs, which may adversely affect financial performance[42]. - The group is exposed to risks related to inaccurate contract pricing estimates and ineffective cost management, which could negatively impact financial results[42]. - The group has faced potential adverse impacts from construction disputes and litigation, which could affect overall performance[42]. Cash and Debt Management - As of March 31, 2020, the group had cash and cash equivalents of approximately HKD 187,521,000, an increase from approximately HKD 181,688,000 as of March 31, 2019[31]. - The capital debt ratio as of March 31, 2020, was approximately 88.2%, down from approximately 95.5% in the previous year[31]. - The group did not have any significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the year ended March 31, 2020[34]. - The group maintained a prudent funding and treasury policy, closely monitoring its liquidity position to meet any unexpected funding needs[32]. - The group did not enter into any derivative contracts to hedge foreign exchange risks for the year ended March 31, 2020, as it primarily operates in Hong Kong and transacts in HKD[37]. - The unutilized net proceeds of approximately HKD 25.3 million have been deposited in a licensed bank in Hong Kong[46]. - The group had no bank borrowings as of March 31, 2020[188]. Corporate Governance - The company has maintained high standards of corporate governance to protect shareholder interests and ensure transparency and accountability[66]. - The board confirms compliance with the corporate governance code since the listing date[66]. - The company has adopted the standard code for securities trading for directors and employees to prevent insider trading[67]. - The management team has extensive experience, with the executive director having over 22 years in accounting and secretarial work[62]. - The independent non-executive directors bring a wealth of experience, including over 52 years in structural engineering and legal expertise[58][59]. - The company emphasizes effective internal controls and risk management procedures to manage related risks[66]. - The company has a commitment to developing business strategies and policies that align with corporate governance principles[66]. - The board has confirmed that there have been no incidents of employees violating the securities trading code since the listing[67]. - The company has a diverse board with members holding qualifications in law, engineering, and accounting[59][60]. - The board consists of five executive directors and three independent non-executive directors, ensuring a high level of independence with independent directors making up over one-third of the board[70][71]. - Attendance rates for board meetings were high, with the chairman attending 100% of meetings and other executive directors averaging 66.67%[77]. - The audit committee, established on May 23, 2017, is composed of three independent non-executive directors and is responsible for reviewing financial statements and internal controls[85][87]. - The company has complied with the corporate governance code, ensuring that all independent non-executive directors are independent according to the listing rules[74]. - The company has arranged internal training on listing rules for all directors to enhance their knowledge and skills, ensuring compliance with ongoing professional development requirements[84]. - The board is responsible for setting the overall strategy and approving annual development plans and budgets, reflecting a commitment to effective governance[80]. - The company has established a clear separation of roles between the chairman and the CEO to ensure effective leadership and management[82]. - All independent non-executive directors have signed service contracts for one year, which can be renewed, ensuring stability in governance[74]. - The company has implemented a director and senior management liability insurance policy to protect individual directors' interests[76]. - The board regularly reviews its delegated functions to ensure they meet the group's needs and has assigned specific responsibilities to various board committees[81]. - The Audit Committee held meetings to review the annual financial performance for the year ending March 31, 2020, with all members attending 100% of the meetings[88]. - The Remuneration Committee convened three times during the year to review the remuneration of all executive directors and senior management, with attendance rates of 100% for independent non-executive directors[95][96]. - The Nomination Committee reviewed the independence of independent non-executive directors and assessed the board's structure and diversity policies[102]. - The company adopted a board nomination policy to recommend candidates for election at the annual general meeting[106]. - The selection criteria for potential candidates include integrity, relevant experience, and commitment to the role, among other factors[107]. - The Remuneration Committee's responsibilities include approving management's remuneration proposals based on the company's performance and strategic goals[101]. - The company ensures that no director participates in determining their own remuneration, maintaining governance standards[101]. - The Audit Committee and the Board had no disagreements on significant matters during the reporting period[88]. - The company’s governance practices align with the corporate governance code as per the Stock Exchange's requirements[93]. - The board consists of seven directors, with one female member, reflecting a commitment to diversity[109]. - The company aims to enhance gender balance in board appointments and has set measurable goals for increasing female representation[112]. Environmental and Social Responsibility - The group maintained its commitment to providing high-quality products and services during the reporting period, with a focus on sustainable value creation for shareholders and stakeholders[135]. - The group implemented quality and environmental management systems certified to ISO 9001:2008 and ISO 14001:2004 standards[135]. - Green policies were adopted to reduce energy consumption and increase employee awareness regarding energy use, paper consumption, and greenhouse gas emissions[138]. - The group reported a reduction in nitrogen oxides emissions from 235,994 grams in 2019 to 223,741 grams in 2020, representing a decrease of approximately 5.3%[146]. - Sulfur oxides emissions decreased from 521 grams in 2019 to 481 grams in 2020, a reduction of about 7.7%[146]. - The group’s carbon dioxide emissions from mobile combustion sources decreased from 84,592 kg in 2019 to 78,018 kg in 2020, a decline of approximately 7.8%[147]. - Indirect greenhouse gas emissions increased from 20,881 kg CO2 equivalent in 2019 to 26,410 kg in 2020, an increase of about 26.6%[148]. - The group has not reported any harmful waste generation during the reporting period[145]. - The group has established a certified occupational health and safety management system compliant with OHSAS 18001:2007[135]. - The group maintained effective communication with stakeholders through various channels, including the company website and financial reports[131]. - Direct energy consumption increased to 41,921 kWh in 2020 from 33,144 kWh in 2019, representing a 26.5% increase[151]. - Energy consumption density decreased to 16,769 kWh per location in 2020 from 18,939 kWh in 2019, a reduction of 11.5%[151]. - The company achieved ISO 9001, ISO 14001, and OHSAS 18001 certifications during the reporting period, indicating compliance with quality and safety standards[156]. - There were 9 reported work-related injuries during the reporting period, with no fatal incidents[156]. - The company implemented measures to protect employee health during the COVID-19 pandemic, including providing masks and sanitizers[158]. - The company maintains a zero-tolerance policy towards forced labor and child labor, ensuring compliance with employment laws[153]. - The company actively engages in community support, donating to various charitable organizations during the reporting period[166]. - The company emphasizes the importance of training and development, sponsoring employees for professional training courses[159]. - The company has a comprehensive supply chain management system to ensure the quality of products and services from suppliers[160]. - The company has established a clear code of conduct to prevent corruption and unethical behavior among employees[164]. - The group is committed to corporate social responsibility and has made donations to charitable organizations to alleviate the impact of COVID-19[172]. Shareholder Information - The company did not declare a final dividend for the year ended March 31, 2020[183]. - The company’s main business is investment holding, focusing on template engineering and building construction[177]. - The company’s financial data summary for the past five years is available in the annual report[185]. - The board of directors presented the audited consolidated financial statements for the year ended March 31, 2020[176]. - The company’s directors and CEO hold significant equity interests, with Mr. Leung Chi Kit and Ms. Chao Yu Ching each owning 1,125,000,000 shares, representing approximately 75% of the issued share capital[200]. - The equity interests are categorized as controlled corporation interests and family interests, indicating a strong alignment with company performance[200]. - The total number of shares held by the directors reflects a substantial ownership stake, which may influence corporate governance and strategic decisions[200]. - The disclosure of interests is in compliance with the Securities and Futures Ordinance, ensuring transparency in ownership[200]. - The company maintains a register of interests as required by the Securities and Futures Ordinance, which is accessible for regulatory purposes[200]. - The significant ownership by the directors suggests a commitment to the long-term success of the company and its strategic initiatives[200]. - The combined ownership of 2,250,000,000 shares by the two directors indicates a strong control over company decisions and direction[200]. - The interests disclosed are subject to the standards set forth in the Listing Rules, ensuring adherence to regulatory requirements[200]. - The high percentage of ownership may impact investor confidence and market perception of the company’s stability[200]. - The company’s governance structure is reinforced by the substantial equity held by its leadership, potentially leading to strategic advantages in market positioning[200].

Revenue Performance - Total revenue decreased by approximately 194.6 million HKD or 46.6% to about 223.0 million HKD for the six months ended September 30, 2019, compared to 417.6 million HKD for the same period in 2018[6]. - The private sector project revenue was approximately 147.7 million HKD, accounting for about 66.2% of total revenue, down from 338.7 million HKD or 81.1% in the previous year[10]. - Public sector project revenue was approximately 75.3 million HKD, representing about 33.8% of total revenue, compared to 78.9 million HKD or 18.9% in the previous year[10]. - For the six months ended September 30, 2019, the revenue from contract with customers was HKD 222,971,000, a decrease of 46.7% compared to HKD 417,585,000 for the same period in 2018[97]. Profitability - Profit attributable to owners increased by 0.7 million HKD or 270.5% to approximately 1.0 million HKD, primarily due to the absence of fair value changes and losses from the sale of financial assets measured at fair value[6]. - The profit attributable to the owners of the company for the six months ended September 30, 2019, was approximately HKD 1.0 million, representing an increase of about 270.5% compared to approximately HKD 0.3 million for the same period in 2018[22]. - The company reported a net profit of HKD 1,019,000 for the six months ended September 30, 2019, compared to HKD 275,000 in the previous year, representing a significant increase[51]. - The profit for the six months ended September 30, 2019, was HKD 1,019,000, representing a significant increase from HKD 275,000 in the same period of 2018, marking a growth of 270%[112]. Expenses and Costs - Gross profit decreased by approximately 32.9 million HKD or 72.3% to about 12.6 million HKD, with gross margin dropping from 10.9% to 5.6%[15]. - Other income fell by approximately 304,000 HKD to about 136,000 HKD, a decrease of about 69.1% due to reduced interest income from receivables and rental income[16]. - Administrative expenses decreased by approximately 2.0 million HKD or 17.0% to about 10.1 million HKD, mainly due to a reduction in professional fees[18]. - Financing costs increased by approximately 0.1 million HKD or 2.7% to about 1.4 million HKD, attributed to increased interest expenses on loans from related companies[20]. - The total salary cost recognized in the profit and loss for the six months ended September 30, 2019, was approximately HKD 114.2 million, compared to approximately HKD 214.8 million for the same period in 2018[33]. - The company incurred employee costs of HKD 114,211,000 for the six months ended September 30, 2019, a decrease from HKD 221,835,000 in the previous year, indicating a reduction of approximately 48%[111]. Cash Flow and Liquidity - As of September 30, 2019, the group had cash and cash equivalents of approximately HKD 170.7 million, a decrease of about 6.0% from HKD 181.7 million as of March 31, 2019[23]. - The net cash generated from operating activities for the six months ended September 30, 2019, was HKD 18,040,000, compared to a net cash used of HKD 52,114,000 in the same period of 2018[58]. - The net cash used in investing activities was HKD 1,305,000, a decrease from HKD 14,406,000 in the previous year[58]. - The net cash used in financing activities was HKD 27,702,000, significantly lower than the net cash generated of HKD 156,145,000 in the prior year[58]. - The cash and cash equivalents decreased by HKD 10,967,000, compared to an increase of HKD 89,625,000 in the same period last year[58]. - The cash and cash equivalents at the end of the period were HKD 170,721,000, down from HKD 182,063,000 at the end of the previous period[58]. - The initial cash balance at the beginning of the period was HKD 181,688,000, compared to HKD 92,438,000 in the previous year[58]. - The bank balance and cash at the end of the period was HKD 37,791,000, down from HKD 188,816,000 in the previous year[58]. Assets and Liabilities - Total assets decreased to HKD 375,796,000 as of September 30, 2019, down from HKD 433,524,000 as of March 31, 2019[53]. - Current liabilities were HKD 197,612,000 as of September 30, 2019, compared to HKD 256,407,000 as of March 31, 2019, indicating a reduction in short-term obligations[54]. - The total liabilities as of September 30, 2019, were HKD 199,856,000, down from HKD 258,603,000 as of March 31, 2019, indicating a decrease of 22.7%[105]. - The total equity as of September 30, 2019, was HKD 175,940,000, slightly up from HKD 174,921,000 as of March 31, 2019[54]. - The total trade receivables decreased to HKD 53,083,000 as of September 30, 2019, down from HKD 91,462,000 as of March 31, 2019, indicating a reduction of approximately 42%[114]. - The company's contract assets amounted to HKD 121,822,000 as of September 30, 2019, compared to HKD 128,853,000 as of March 31, 2019, reflecting a decrease of about 5.5%[116]. - Trade payables were reported at HKD 13,711,000 as of September 30, 2019, down from HKD 19,365,000 as of March 31, 2019, showing a decline of approximately 29%[117]. Employee and Management Compensation - The total compensation for key management personnel for the six months ended September 30, 2019, was HKD 3,343,000, a slight decrease of 1.6% compared to HKD 3,397,000 in the same period of 2018[127]. - The retirement benefits for key management personnel remained unchanged at HKD 36,000 for both periods[127]. Accounting Standards and Policies - The group has adopted new Hong Kong Financial Reporting Standards, which may impact the financial statements but did not have a significant effect on the current and prior periods[62]. - The application of HKFRS 16 on leases has resulted in changes to accounting policies, affecting the recognition of right-of-use assets and lease liabilities[66]. - The company recognized lease liabilities of approximately HKD 385,000 and corresponding right-of-use assets of HKD 385,000 upon the initial application of HKFRS 16 on April 1, 2019[91]. - The weighted average incremental borrowing rate applied was 3.97% for the measurement of lease liabilities[91]. - The company chose to apply the practical expedient not to recognize right-of-use assets and lease liabilities for leases with a term of 12 months or less[90]. - The company will remeasure lease liabilities when there are changes in lease terms or assessments of purchase options[83]. Other Information - The group secured 5 new contracts during the review period, with a total contract value of approximately 325.7 million HKD[6]. - There were no major acquisitions or disposals of subsidiaries or associates during the reporting period[30]. - The group had no significant contingent liabilities as of September 30, 2019[28]. - The company did not declare any dividends during the interim period, as per the board's decision[112]. - The company has not conducted any significant post-reporting period events[49]. - The company has not purchased, sold, or redeemed any of its securities since the listing date[47]. - No share options have been granted, exercised, cancelled, or lapsed under the share option scheme since its adoption on May 23, 2017[48].

Financial Performance - Total revenue increased by approximately HKD 273.7 million or 47.4% to about HKD 850.6 million for the year ended March 31, 2019, compared to approximately HKD 576.9 million for the previous year[7]. - The loss attributable to equity shareholders increased by approximately HKD 46.6 million or 170.8% to about HKD 19.3 million for the year ended March 31, 2019, compared to a profit of approximately HKD 27.3 million for the previous year[7]. - The group's gross profit decreased by approximately HKD 15,626,000 or about 24.7% to approximately HKD 47,685,000 for the year ended March 31, 2019, compared to approximately HKD 63,311,000 for the previous year[26]. - The gross profit margin fell from approximately 11.0% for the year ended March 31, 2018, to approximately 5.6% for the year ended March 31, 2019, primarily due to unexpected delays in project commencement and increased direct labor and subcontractor costs[26]. - Other income increased by approximately HKD 1,445,000 or about 150.7% to approximately HKD 2,404,000 for the year ended March 31, 2019, mainly due to increased rental income[27]. - Other losses increased significantly to approximately HKD 36,571,000 for the year ended March 31, 2019, from other income of approximately HKD 13,000 for the previous year, primarily due to losses from the sale of financial assets[28]. - Administrative expenses decreased by approximately HKD 6,690,000 or about 21.8% to approximately HKD 23,955,000 for the year ended March 31, 2019, compared to approximately HKD 30,645,000 for the previous year[29]. - Financing costs increased by approximately HKD 1,839,000 or about 189.0% to approximately HKD 2,812,000 for the year ended March 31, 2019, due to increased interest expenses from loans from a related company[30]. - The group reported a loss attributable to equity shareholders of approximately HKD 19,319,000 for the year ended March 31, 2019, compared to a profit of approximately HKD 27,280,000 for the previous year[34]. Revenue Sources - Revenue from private sector projects was approximately HKD 633.1 million, accounting for about 74.4% of total revenue, while public sector projects contributed approximately HKD 217.4 million, accounting for about 25.6% of total revenue[14]. - The number of projects contributing to total revenue was 49 for the year ended March 31, 2019, compared to 51 projects for the previous year[8]. - The increase in revenue was primarily driven by five large template engineering projects awarded in early 2018, with a total contract value of approximately HKD 562.6 million[22]. - The company had 19 customers contributing to total revenue of approximately HKD 850.6 million, down from 22 customers in the previous year[18]. Market Conditions and Strategy - The company faced increased competition in the template engineering market following the completion of major infrastructure projects in Hong Kong[8]. - The company plans to expand its range of construction projects and customer base to mitigate market risks[8]. - The company continues to focus its operations primarily in the Hong Kong market[22]. Human Resources and Employment - The company employed 1,204 employees as of March 31, 2019, an increase from 1,089 employees in the previous year, with total salary costs amounting to approximately HKD 418.5 million, up from HKD 314.4 million[48]. - The company has a strategy to invest in human resources, with HKD 5.6 million utilized out of HKD 9.6 million allocated for this purpose by March 31, 2019[50]. - The group sponsors training for employees to enhance their professional skills and ensure safety on construction sites[162]. Corporate Governance - The board of directors consists of seven members, including one female member, reflecting a commitment to diversity[115]. - The board will seek re-election of directors at the upcoming annual general meeting, ensuring continuity in governance[190]. - The company has adopted a dividend policy aimed at providing stable and sustainable dividends while retaining liquidity for future growth opportunities[120]. - The board is responsible for guiding and monitoring the group's affairs, approving annual development plans and budgets, and overseeing financial and operational performance[85]. - The company ensures compliance with corporate governance codes and regularly reviews its governance policies[88]. Risk Management and Compliance - The internal control and risk management systems were reviewed and deemed reasonable and effective, with no significant control findings or weaknesses identified by the internal control review consultant[125]. - The board believes that the risk management and internal control systems are effective and adequate, providing reasonable assurance against significant misstatements or losses[127]. - The company has established procedures for handling and disseminating inside information, ensuring compliance with the listing rules[128]. Environmental and Social Responsibility - The group maintained its commitment to providing high-quality products and services during the reporting period ending March 31, 2019[142]. - The group implemented quality and environmental management systems certified to ISO 9001:2008 and ISO 14001:2004 standards[142]. - The group has a zero-tolerance policy towards forced labor and child labor, ensuring compliance with applicable laws and regulations during the reporting period[158]. - The group aims to enhance its environmental, social, and governance performance by increasing awareness of environmental protection among employees and subcontractors[172]. Board Structure and Meetings - The board consists of four executive directors and three independent non-executive directors, ensuring a high level of independence for effective decision-making[75]. - The board held a total of 4 meetings during the fiscal year ending March 31, 2019, with all directors attending all meetings[82]. - The Audit Committee, consisting of three independent non-executive directors, reviews the group's financial statements and internal control effectiveness[93]. Financial Management - The external auditor, Guowei CPA Limited, was paid a total of HKD 1,100,000 for the year ended March 31, 2019, which includes HKD 800,000 for audit services and HKD 300,000 for non-audit services[124]. - The company has received annual independence confirmations from independent non-executive directors as per listing rules[190]. - The employee and remuneration policy is detailed in the annual report, indicating a structured approach to compensation[199].