Financial Performance - For the six months ended September 30, 2024, the company reported revenue of HKD 134,194,000, a decrease of 26.5% compared to HKD 182,630,000 for the same period in 2023[3]. - Gross profit for the same period was HKD 11,379,000, down 33.4% from HKD 17,011,000 year-on-year[3]. - Operating profit decreased to HKD 3,866,000 from HKD 7,904,000, representing a decline of 51.0%[3]. - The net profit attributable to shareholders for the period was HKD 346,000, a significant drop from HKD 5,189,000 in the previous year[3]. - The basic and diluted earnings per share for the six months ended September 30, 2024, is HKD 0.0005, a decrease from HKD 0.0076 in 2023, indicating a decline of approximately 93%[37]. - The total revenue for the period was approximately HKD 134,194,000, a decrease of about HKD 48,436,000 or 26.5% compared to HKD 182,630,000 for the six months ended September 30, 2023[82]. - Gross profit for the period was approximately HKD 11,379,000, with a gross margin of about 8.5%, down from 9.3% for the six months ended September 30, 2023[83]. - The net profit for the period was approximately HKD 346,000, a significant decrease from HKD 5,189,000 for the six months ended September 30, 2023[90]. Cash Flow and Liquidity - The company reported a net cash inflow from operating activities of HKD 42,381,000, compared to HKD 19,207,000 in the same period last year, indicating a 108.5% increase[12]. - The company’s cash and cash equivalents increased to HKD 25,973,000 from HKD 17,307,000, marking a rise of 50.5%[12]. - As of September 30, 2024, the bank balance was approximately HKD 25,973,000, an increase from HKD 17,307,000 as of March 31, 2024[91]. - The group has cash and cash equivalents of HKD 25,973 as of September 30, 2024, compared to HKD 17,307 as of March 31, 2024, reflecting an increase in liquidity[58]. Assets and Liabilities - Total assets decreased to HKD 226,601,000 from HKD 255,602,000, reflecting a decline of 11.4%[6]. - Current liabilities decreased to HKD 130,239,000 from HKD 171,414,000, a reduction of 24.1%[6]. - Non-current assets, including property, plant, and equipment, decreased to HKD 76,524,000 from HKD 86,013,000, a decline of 11.0%[6]. - The total financial liabilities amounted to HKD 133,275,000 as of September 30, 2024, compared to HKD 174,933,000 on March 31, 2024[70]. - The total bank and other loans amounted to approximately HKD 76,679,000 as of September 30, 2024, a decrease from HKD 105,938,000 on March 31, 2024[65]. - The debt-to-equity ratio decreased to approximately 46.4% as of September 30, 2024, down from 63.1% as of March 31, 2024, due to a reduction in bank and other loans[91]. Expenses - The operating profit for the six months ended September 30, 2024, is significantly impacted by employee expenses totaling HKD 24,480,000, down from HKD 33,410,000 in 2023, indicating a reduction of about 27%[29]. - The total employee compensation for the period was approximately HKD 24,480,000, down from HKD 33,410,000 for the six months ended September 30, 2023[98]. - The finance costs for the six months ended September 30, 2024, amount to HKD 3,520,000, compared to HKD 2,715,000 in 2023, reflecting an increase of approximately 30%[30]. - The depreciation expense for property, plant, and equipment for the six months ended September 30, 2024, is HKD 10,417,000, down from HKD 11,242,000 in 2023, indicating a decrease of about 7%[29]. Other Income and Dividends - Other income for the six months ended September 30, 2024, is HKD 2,728,000, compared to HKD 2,066,000 for the same period in 2023, representing an increase of approximately 32%[27]. - The company did not recommend any interim dividend for the six months ended September 30, 2024, consistent with the previous year[34]. - The board has resolved not to declare an interim dividend for the six months ended September 30, 2024[103]. Governance and Management - The audit committee has reviewed and approved the group's unaudited condensed interim results and financial statements for the period[108]. - The audit committee consists of three independent non-executive directors, including the chairman, Mr. Zheng Zhihong[108]. - The board of directors includes executive and independent non-executive directors, ensuring a diverse governance structure[112]. - The company expresses gratitude to all management and staff for their efforts and contributions[111]. Future Prospects and Commitments - Significant events affecting the group from September 30, 2024, to the announcement date are discussed in the "Management Discussion and Analysis - Future Prospects" section[110]. - The group has capital commitments for property, plant, and equipment amounting to HKD 4,828,000 as of September 30, 2024[74]. - The company has no significant investments or acquisitions during the period[94][95]. - The company has no significant contingent liabilities as of September 30, 2024[100]. - The group is currently facing two labor claims arising from normal business operations, with no specific claim amounts determined yet[76].

Financial Performance - The group's total revenue for the year was approximately HKD 361,257,000, representing an increase of about 14.6% compared to the previous year's revenue of approximately HKD 315,136,000[6]. - The gross profit for the year was approximately HKD 31,248,000, with a gross profit margin of about 8.6%, down from a gross profit margin of approximately 10.9% in the previous year[7]. - Administrative expenses for the year were approximately HKD 23,874,000, a decrease of about 4.0% from approximately HKD 24,866,000 in the previous year[8]. - Trade receivables and other receivables increased by approximately 20.6% to about HKD 102,979,000, up from approximately HKD 85,375,000 in the previous year[9]. - As of March 31, 2024, the company's distributable reserves amount to approximately HKD 118,972,000, a slight decrease from HKD 120,334,000 as of March 31, 2023[46]. - The company has not declared or recommended any dividends for the reporting period[40]. Market Outlook - The company anticipates that the demand for housing in Hong Kong will be boosted by government initiatives aimed at attracting talent and investment, despite a weak global economic outlook[5]. - The company has noted a decrease in the number of construction projects due to delays in legislative approvals, leading to increased competition in the construction industry[18]. Corporate Governance - The company has maintained compliance with the minimum public float requirements as stipulated by the listing rules during the reporting period[79]. - The company has established an audit committee with specific written terms of reference, which has held three meetings during the reporting period[145][143]. - The board consists of six directors, including three executive directors and three independent non-executive directors[153]. - The company emphasizes high standards of corporate governance to enhance public accountability and protect shareholder interests[152]. - The board is committed to continuous professional development for directors, providing training on duties and responsibilities as well as updates on relevant laws and regulations[141]. - The independent non-executive directors have confirmed their independence according to the listing rules[140]. - The company has established a nomination committee responsible for identifying suitable candidates for the board and evaluating the independence of non-executive directors[170]. - The company has adopted a shareholder communication policy to ensure timely access to information for shareholders, facilitating their participation in company affairs[183]. - The board has reviewed and discussed the effectiveness of the corporate governance policies during the reporting period[174]. Management and Leadership - The company has a strong management team with extensive experience in project management and engineering, with key members having over 30 years of industry experience[72][73][74]. - Executive Director and CEO Mr. Chan Lit Chuen has over 43 years of experience and is responsible for daily management and execution of business operations[97]. - The company has maintained a strong focus on quality control and compliance with safety and environmental regulations, overseen by Executive Director Ms. Chan Chien Ying, who has over 42 years of experience[101]. - The company has established a solid foundation for future growth through its experienced leadership team and strategic management practices[98]. - The company has a commitment to continuous improvement in project management and operational efficiency, as evidenced by the qualifications of its management team[100]. Risk Management - The audit committee reviewed the financial reporting principles and the effectiveness of the company's risk management and internal control systems, concluding that the audited consolidated financial statements comply with applicable accounting standards and legal requirements[168]. - The audit committee is continuously reviewing significant internal controls and risk management relevant to the group, including the adequacy of resources and training for accounting and financial reporting staff[180]. Operational Focus - The company has been actively involved in the construction sector, focusing on piling engineering and related services, which is a core part of its business operations[95]. - The group operates primarily in foundation engineering services in Hong Kong and Macau, including piling construction and site preparation[114]. - The company has maintained its status as a major player in the construction industry, leveraging its extensive experience and strategic partnerships[98]. Supplier and Customer Concentration - The largest supplier accounted for 70.1% of the group's total procurement, while the top five suppliers together represented 98.9%[58]. - The largest customer contributed 46.2% of the group's total revenue, with the top five customers accounting for 87.8%[58]. Compliance and Legal - The company has not entered into any derivative contracts to hedge against foreign exchange risks, as it operates primarily in Hong Kong dollars[12]. - The company has not reported any significant acquisitions or disposals of subsidiaries or associated companies during the reporting period[86]. - The company has not entered into any contracts that involve the management and operation of any significant part of the business during the reporting period[107]. - The company has not appointed an internal audit function but will review the need for such a function annually, considering the cost-effectiveness of appointing external independent professionals[179]. Remuneration and Incentives - The remuneration policy for directors is based on their experience, responsibilities, workload, and time dedicated to the group, with adjustments made annually[148]. - The company has implemented a bonus scheme to align financial interests with those of employees and retain high-quality staff[148]. - The total remuneration for the auditor for audit services amounted to HKD 480,000[178]. Sustainability and Environmental Commitment - The group is committed to long-term sustainability by minimizing environmental impact through resource conservation and compliance with relevant laws[128]. - The company is committed to adhering to relevant laws and regulations, as part of its environmental policy and performance[110].

Financial Performance - The company recorded a net profit of approximately HKD 4,286,000 for the year, a decrease of 60.5% compared to HKD 10,836,000 in the previous year[24][29]. - Revenue for the year ended March 31, 2024, was HKD 361,257,000, representing a 14.6% increase from HKD 315,136,000 in the previous year[29]. - Gross profit decreased to HKD 31,248,000, down 9.9% from HKD 34,395,000 year-on-year[29]. - Operating profit was HKD 9,808,000, a decline of 34.5% compared to HKD 14,991,000 in the previous year[29]. - The company reported a basic and diluted earnings per share of HKD 0.63, down from HKD 1.58 in the previous year[29]. - The net profit attributable to the company's owners for fiscal year 2024 was HKD 4,286,000, down 60.4% from HKD 10,836,000 in fiscal year 2023[61]. Assets and Liabilities - Total assets increased to HKD 255,602,000 from HKD 199,317,000, reflecting a growth of 28.3%[43]. - Current liabilities rose to HKD 171,414,000, up from HKD 129,623,000, indicating a 32.2% increase[43]. - The group's interest-bearing debt increased to approximately HKD 114,434,000 from HKD 97,278,000 year-over-year, resulting in a debt-to-equity ratio of approximately 63.1%, up from 54.9%[1]. - Trade payables increased significantly to HKD 41,560,000 in 2024 from HKD 20,969,000 in 2023, indicating a rise of approximately 98%[67][99]. Employee and Compensation - The total employee count increased to 161 as of March 31, 2024, from 120 as of March 31, 2023, with total compensation costs amounting to approximately HKD 65,394,000, up from HKD 60,588,000[9]. - Employee expenses, including director remuneration, increased to HKD 65,394,000 in fiscal year 2024 from HKD 60,588,000 in fiscal year 2023, an increase of 7.5%[55]. Revenue Sources and Projects - The group has nine ongoing projects with a total contract value of approximately HKD 450,289,000, expected to be completed in the next fiscal year[101]. - The company continues to focus on foundation engineering services in Hong Kong and Macau, including piling construction and site preparation[44]. - The company anticipates continued demand for foundation engineering services due to government-led infrastructure projects, which are expected to support business growth[102]. - The group has been awarded two new foundation engineering projects with a contract value of approximately HKD 41,988,000 after the fiscal year-end[101]. Reserves and Dividends - The group's available distributable reserves as of March 31, 2024, were approximately HKD 118,972,000, a slight decrease from HKD 120,334,000 as of March 31, 2023[12]. - The group did not declare a final dividend for the year[5]. - The company has no proposed dividends for the fiscal years ending March 31, 2024, and March 31, 2023[60]. Other Financial Metrics - Other income for the year was approximately HKD 3,378,000, a decrease of about 52.4% compared to HKD 7,094,000 in the previous year, primarily due to the absence of government subsidies from the "Employment Support Scheme"[20]. - The group's other net losses were approximately HKD 944,000, a reduction of about 42.2% from HKD 1,632,000 in the previous year[21]. - General and administrative expenses for the year were approximately HKD 23,874,000, a decrease of about 4.0% from HKD 24,866,000 in the previous year[22]. - The company reported interest income from bank deposits of HKD 52,000 in fiscal year 2024, up from HKD 7,000 in fiscal year 2023, marking a growth of 642.9%[54]. - The aging analysis of trade receivables shows that amounts due within 30 days increased to HKD 12,611,000 in 2024 from HKD 21,467,000 in 2023, reflecting a decrease of approximately 41.3%[64]. - Trade receivables and other receivables increased by approximately 20.6% from HKD 85,375,000 to HKD 102,979,000, primarily due to increased advances to subcontractors[25].

Financial Performance - The total revenue for the period was approximately HKD 182,630,000, an increase of about HKD 32,983,000 or 22.0% compared to HKD 149,647,000 for the same period last year [10]. - The gross profit for the period was approximately HKD 17,011,000, with a gross profit margin of about 9.3%, down from 14.5% in the previous period [11]. - The net profit for the period was approximately HKD 5,189,000, compared to HKD 6,287,000 for the same period last year [17]. - Revenue for the six months ended September 30, 2023, was HKD 182,630,000, an increase of 22.0% compared to HKD 149,647,000 for the same period in 2022 [46]. - Gross profit for the same period was HKD 17,011,000, down 21.7% from HKD 21,736,000 in 2022 [46]. - Operating profit decreased slightly to HKD 7,904,000, compared to HKD 8,055,000 in the previous year, reflecting a decline of 1.9% [46]. - Profit before tax was HKD 5,189,000, down 17.5% from HKD 6,287,000 in the prior year [46]. - Basic and diluted earnings per share were HKD 0.76, a decrease of 17.4% from HKD 0.92 in the same period last year [46]. - The company reported a profit attributable to equity holders of HKD 5,189,000 for the six months ended September 30, 2023, down from HKD 6,287,000 in the same period of 2022, representing a decrease of approximately 17.5% [69]. Cash Flow and Financial Position - As of September 30, 2023, the bank balance was approximately HKD 21,932,000, down from HKD 29,106,000 as of March 31, 2023 [18]. - Cash and cash equivalents at the end of the period were HKD 19,932,000, down from HKD 29,106,000 at the beginning of the period, representing a decrease of 31.7% [50]. - Net cash generated from operating activities was HKD 19,207,000, down 24.8% from HKD 25,276,000 in the previous year [50]. - The company reported a net asset value of HKD 182,287,000, up from HKD 177,098,000 at the end of the previous reporting period [48]. - The total financial assets amounted to HKD 113,050,000 as of September 30, 2023, a decrease from HKD 118,423,000 as of March 31, 2023 [88]. - The total financial liabilities increased to HKD 128,715,000 as of September 30, 2023, compared to HKD 125,687,000 as of March 31, 2023 [88]. Expenses and Cost Management - Other income decreased by approximately 62.3% to HKD 2,066,000, primarily due to the absence of government subsidies from the "Employment Support Scheme" [13]. - Administrative expenses decreased by approximately HKD 1,042,000 or 8.8% to HKD 10,774,000, attributed to effective cost control measures [15]. - Financing costs increased to HKD 2,715,000 for the six months ended September 30, 2023, from HKD 1,768,000 in the previous year [64]. - Employee expenses, including director remuneration, amounted to HKD 33,410,000 for the six months ended September 30, 2023, up from HKD 30,063,000 in 2022 [63]. - The remuneration for directors and key management personnel for the six months ended September 30, 2023, was approximately HKD 3,602,000, a slight decrease from HKD 3,681,000 for the same period in 2022 [90]. Projects and Future Outlook - The group had ten ongoing projects with a total contract value of approximately HKD 565,690,000, with seven expected to be completed in the next fiscal year [8]. - The group was awarded four new foundation engineering projects after the reporting period, with a contract value of approximately HKD 94,727,000 [8]. - The group anticipates continued demand for construction and foundation engineering services due to government plans to sell residential land and build new housing units [9]. - The group anticipates recognizing expected revenue from construction contracts in the next 12 to 24 months [60]. Shareholder and Governance Information - The major shareholder, Creative Elite Global Limited, holds 495,000,000 shares, representing 72.29% of the total shares [30]. - The company has not issued, exercised, or canceled any share options since the adoption of the share option scheme in October 2016 [35]. - The total number of share options available for grant remained unchanged at 68,475,000 as of both April 1, 2023, and September 30, 2023 [35]. - The board has resolved not to declare an interim dividend for the six months ended September 30, 2023 [36]. - The company has adopted corporate governance principles and has complied with all applicable codes during the reporting period [39]. Assets and Liabilities - Total assets as of September 30, 2023, were HKD 208,752,000, an increase from HKD 199,317,000 as of March 31, 2023 [47]. - The group reported other income of HKD 2,066,000 for the six months ended September 30, 2023, a decrease from HKD 5,478,000 in the same period of 2022 [62]. - Contract assets increased to HKD 77,561,000 as of September 30, 2023, up from HKD 70,799,000 as of March 31, 2023, reflecting a growth of approximately 9.9% [73]. - Trade receivables amounted to HKD 36,990,000 as of September 30, 2023, compared to HKD 31,545,000 as of March 31, 2023, indicating an increase of approximately 17.5% [77]. - The aging analysis of trade receivables showed that HKD 25,525,000 (approximately 69.1%) were within 30 days, while HKD 10,208,000 (approximately 27.6%) were overdue by more than 90 days [78]. - Trade payables increased to HKD 32,900,000 as of September 30, 2023, up 56.9% from HKD 20,969,000 as of March 31, 2023 [83]. - The total value of bank and other loans decreased to HKD 77,888,000 as of September 30, 2023, down 11.7% from HKD 88,177,000 as of March 31, 2023 [84]. - The average effective interest rate for bank loans was 5.940% as of September 30, 2023, compared to 5.134% as of March 31, 2023 [85]. Labor and Employment - The group employed 123 employees as of September 30, 2023, with no significant labor disputes reported during the period [24]. - The group is currently facing two labor claims arising from normal business operations, with no specific claim amounts determined yet [92].

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佈的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公佈全部或任 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。 SHEUNG YUE GROUP HOLDINGS LIMITED 上諭集團控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1633） 截至二零二三年九月三十日止六個月之 中期業績公佈 上諭集團控股有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然列報本公司 及其附屬公司（統稱「本集團」）截至二零二三年九月三十日止六個月（「本期間」）之 未經審核中期業績連同二零二二年同期之比較數字。 ...

Financial Performance - The total revenue for the fiscal year ending March 31, 2023, was approximately HKD 315,136,000, representing an increase of about 47.5% compared to the previous year's revenue of HKD 213,665,000[17]. - The gross profit for the fiscal year was approximately HKD 34,395,000, with a gross profit margin of about 10.9%, down from 15.2% in the previous year[20]. - Other income increased by approximately 102.4% to about HKD 7,094,000, primarily due to government subsidies from the "Employment Support Scheme" amounting to HKD 2,656,000[22]. - The company recorded a net profit of approximately HKD 10,836,000 for the fiscal year, slightly down from HKD 11,192,000 in the previous year[26]. - The total salary cost for the year was approximately HKD 60,588,000, compared to HKD 50,320,000 in the previous year[33]. - The company reported a distributable reserve of approximately HKD 120,334,000 as of March 31, 2023, compared to HKD 121,893,000 as of March 31, 2022, indicating a slight decrease of 1.29%[88]. Projects and Contracts - As of March 31, 2023, the company had nine ongoing projects with a total contract value of approximately HKD 512,129,000, with six projects expected to be completed in the next fiscal year[15]. - The company was awarded two new foundation engineering projects after the fiscal year-end, with a contract value of approximately HKD 160,887,000[15]. Economic Outlook - The company anticipates a stable improvement in the Hong Kong economy, driven by government initiatives to address public housing shortages and large-scale infrastructure projects[9]. - The company aims to continue expanding its revenue sources and maintaining strong financial performance in the upcoming fiscal year[10]. Debt and Financial Position - The group's interest-bearing debt as of March 31, 2023, was approximately HKD 97,278,000, up from HKD 76,445,000 on March 31, 2022[30]. - The debt-to-equity ratio as of March 31, 2023, was approximately 54.9%, compared to 46.0% on March 31, 2022, due to an increase in bank and other loans[30]. - The group's bank balance was approximately HKD 29,106,000, an increase from HKD 14,342,000 on March 31, 2022[30]. Staffing and Administrative Expenses - Administrative expenses decreased by about 4.0% to approximately HKD 24,866,000, mainly due to a reduction in staff salaries and bonuses[24]. - The group employed 120 staff as of March 31, 2023, down from 138 staff on March 31, 2022[33]. Market and Competition - Intense competition in the construction industry has led to reduced profit margins due to a decrease in available projects and rising construction costs[81]. - The group operates primarily in foundation engineering in Hong Kong and Macau, including piling construction and related services[71]. Corporate Governance - The company has maintained compliance with all applicable corporate governance codes since its listing date[40]. - The board of directors consists of six members, including three executive directors and three independent non-executive directors, ensuring a balance of power and safeguarding shareholder interests[142]. - The company has implemented adequate internal control systems and risk management procedures as part of its governance practices[145]. Shareholder Communication and Dividends - The board of directors has the discretion to declare dividends based on the group's operating performance, financial condition, liquidity, capital requirements, cash flow, and expected performance[196]. - The company will continue to review its dividend policy and reserves the right to update, modify, or cancel it at any time[198]. - Shareholders can request a special general meeting if they hold at least 10% of the company's paid-up capital[188]. Environmental and Social Responsibility - The company emphasized its commitment to environmental compliance, achieving a 95% compliance rate in safety and environmental standards[54]. - The company has maintained a commitment to environmental sustainability by promoting water and electricity conservation and encouraging the recycling of office supplies[135]. - The company made charitable donations totaling approximately HKD 10,000 during the reporting period, consistent with the previous year[86]. Strategic Initiatives - The company is expanding its market presence in Southeast Asia, targeting a 10% market share within the next two years[54]. - A strategic acquisition of a local competitor was completed, valued at $50 million, aimed at increasing market penetration[54]. - Research and development expenses increased by 18%, totaling $30 million, to support innovation in sustainable building technologies[54]. Risk Management - The company faces key risks including changes in project scope that may affect revenue compared to original contract amounts[80]. - The company is subject to risks related to inaccurate estimates in project bidding, which could lead to significant losses if costs exceed projections[83]. - The company’s ability to complete construction projects may be affected by various factors, including labor shortages, material cost increases, and adverse weather conditions[83].

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佈的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公佈全部或任 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。 SHEUNG YUE GROUP HOLDINGS LIMITED 上諭集團控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1633） 截至二零二三年三月三十一日止年度之 年度業績公佈 上諭集團控股有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然列報本公司 及其附屬公司（統稱「本集團」）截至二零二三年三月三十一日止年度（「本年度」）之 年度業績，連同截至二零二二年三月三十一日止年度（「上年度」）之經審計比較數字。 ...

Financial Performance - The total revenue for the period was approximately HKD 149,647,000, an increase of about HKD 36,628,000 or 32.4% compared to HKD 113,019,000 for the same period last year[8]. - Gross profit for the period was approximately HKD 21,736,000, with a gross profit margin of about 14.5%, compared to HKD 15,987,000 and 14.1% for the same period last year[10]. - The net profit for the period was approximately HKD 6,287,000, compared to HKD 5,390,000 for the same period last year[16]. - Operating profit increased to HKD 8,055,000, a rise of 27.1% from HKD 6,338,000 in the previous year[52]. - The company reported a total comprehensive income of HKD 6,287,000 for the period, up from HKD 5,390,000 in 2021[52]. - Basic and diluted earnings per share for the period were HKD 0.92, compared to HKD 0.79 in the same period last year[52]. - For the six months ended September 30, 2022, the company reported a profit attributable to equity holders of HKD 6,287,000, compared to HKD 5,390,000 for the same period in 2021, representing an increase of approximately 16.7%[84]. Income and Expenses - Other income increased by approximately 152.4% to HKD 5,478,000, primarily due to government subsidies from the "Employment Support Scheme" amounting to HKD 2,526,000[12]. - Administrative expenses decreased by approximately HKD 315,000 or 2.6% to HKD 11,816,000 due to effective cost control by management[14]. - Employee expenses, including director remuneration, amounted to HKD 30,063,000 for the six months ended September 30, 2022, compared to HKD 21,183,000 in the same period last year, reflecting a year-on-year increase of approximately 42%[76]. - Financing costs for the six months ended September 30, 2022, totaled HKD 1,768,000, compared to HKD 948,000 in the previous year, indicating an increase of approximately 86%[77]. - The group reported a net loss from the sale of property, plant, and equipment amounting to HKD 7,343,000 for the six months ended September 30, 2022[72]. Assets and Liabilities - As of September 30, 2022, the bank balance was approximately HKD 31,769,000, an increase from HKD 14,342,000 as of March 31, 2022[17]. - Total assets as of September 30, 2022, were HKD 191,471,000, compared to HKD 198,168,000 as of March 31, 2022[53]. - The net asset value increased to HKD 172,549,000 from HKD 166,262,000 as of March 31, 2022[54]. - The total carrying value of bank loans as of September 30, 2022, is approximately HKD 76,208,000, an increase from HKD 63,095,000 as of March 31, 2022, representing a growth of 20.5%[101]. - Trade receivables decreased to HKD 13,139,000 as of September 30, 2022, from HKD 20,975,000 as of March 31, 2022, representing a decline of about 37.4%[93]. - Trade payables decreased to HKD 18,026,000 as of September 30, 2022, from HKD 22,843,000 as of March 31, 2022, reflecting a decline of 21.3%[103]. Capital and Shareholder Information - The major shareholder, Creative Elite Global Limited, holds 495,000,000 shares, representing 72.29% of the company's equity[27]. - The board has decided not to declare an interim dividend for the six months ending September 30, 2022[40]. - The company’s issued and fully paid ordinary shares remain at 684,750,000 shares as of both September 30, 2022, and March 31, 2022[105]. Corporate Governance and Outlook - The board maintains a cautiously optimistic outlook for the business, anticipating stable demand for foundation engineering in Hong Kong[7]. - The board emphasizes a commitment to high standards of corporate governance, adhering to all applicable codes during the reporting period[41]. - The company has not engaged in any buybacks, sales, or redemptions of its listed securities during the reporting period[34]. Employment and Labor Relations - As of September 30, 2022, the group employed 85 staff members, with total compensation costs amounting to approximately HKD 30,063,000, compared to HKD 21,183,000 for the same period in 2021, reflecting a year-on-year increase of 42.03%[24]. - There were no significant labor disputes or difficulties in recruiting and retaining experienced staff during the reporting period[24]. - The remuneration for directors and key management personnel for the six months ended September 30, 2022, is approximately HKD 3,681,000, a decrease from HKD 4,062,000 for the same period last year[108]. Capital Expenditures - Capital expenditures for property, plant, and equipment amounted to approximately HKD 28,820,000 for the six months ended September 30, 2022, compared to HKD 16,818,000 for the same period in 2021, indicating a significant increase of about 71.5%[86]. - The company has no capital commitments as of September 30, 2022, a decrease from HKD 24,220,000 as of March 31, 2022[25].

Financial Performance - The total revenue for the fiscal year ended March 31, 2022, was approximately HKD 213,665,000, a decrease of about 23.4% compared to HKD 279,022,000 in the previous year[13] - Gross profit for the fiscal year was approximately HKD 32,536,000, with a gross profit margin of about 15.2%, an improvement from 2.4% in the previous year[15] - The company recorded a net profit of approximately HKD 11,192,000 for the fiscal year, compared to a net loss of HKD 14,475,000 in the previous year[21] - Other income decreased by approximately 52.9% to HKD 3,505,000, primarily due to the absence of government subsidies from the "Employment Support Scheme" amounting to HKD 4,058,000[17] - Administrative expenses increased by approximately 2.1% to HKD 25,915,000, in line with the inflation rate[19] - The total cost of employee compensation, including directors' remuneration, was approximately HKD 50,320,000 for the year, down from HKD 68,260,000 in the previous year[26] Projects and Contracts - The company had ten ongoing projects with a total contract value of approximately HKD 351,211,000 as of March 31, 2022[11] - The company was awarded two new foundation engineering projects after the fiscal year, with a contract value of approximately HKD 112,006,000[11] Debt and Financial Position - As of March 31, 2022, the group's bank balance was approximately HKD 14,342,000, a decrease from HKD 21,780,000 on March 31, 2021[22] - The group's interest-bearing debt as of March 31, 2022, was approximately HKD 76,445,000, up from HKD 32,630,000 on March 31, 2021[22] - The debt-to-equity ratio as of March 31, 2022, was approximately 45.98%, significantly increased from 21.04% on March 31, 2021, due to higher bank loans and lease liabilities[22] - The total net book value of properties, plants, and machinery held under finance leases was approximately HKD 11,379,000 as of March 31, 2022, compared to HKD 9,111,000 on March 31, 2021[24] - The group had approximately HKD 11,238,000 in bank deposits pledged for bank financing as of March 31, 2022, down from HKD 19,216,000 on March 31, 2021[24] Future Outlook and Strategy - The company remains cautiously optimistic about future business prospects, driven by government-led infrastructure and housing projects[8] - The company plans to closely monitor market developments and adjust business strategies as needed to maintain competitiveness in the construction industry[12] - The company will explore various potential business opportunities to expand revenue sources and maximize shareholder returns[12] Corporate Governance - The company has adhered to all applicable corporate governance codes since its listing date[32] - The company has implemented an adequate internal control system and risk management procedures[132] - The board consists of six directors, including three executive directors and three independent non-executive directors[130] - The company has received annual confirmations of independence from all independent non-executive directors[83] - The company has adopted a shareholder communication policy to ensure timely access to information for shareholders[170] Shareholder Information - The company holds 495,000,000 shares, representing 72.29% ownership by Mr. Chen Liwei through Creative Elite Global Limited[95] - Ms. Chen Qianying holds 7,140,000 shares, accounting for 1.04% of the company's total shares[95] - The group did not declare or recommend any dividends during the reporting period, consistent with the previous year[70] Risk Management - Key risks identified include project changes that may affect revenue generation, leading to potential adverse impacts on profitability[71] - The construction industry is facing intensified competition due to a decrease in available projects and rising construction costs, which has diluted profit margins[72] - The company has established a risk management policy to identify, assess, and manage significant risks affecting the business[165] Audit and Compliance - The financial statements were audited by Kaiyuan Xinde CPA Limited, with no change in auditors during the reporting period[123] - The audit committee held three meetings during the reporting period to review financial reporting principles and the effectiveness of the company's risk management and internal control systems[144] - The audit identified key audit matters, including the recognition of construction contract revenue and the assessment of credit loss provisions[189] Employee Relations - The group employed 138 staff members as of March 31, 2022, with no significant issues related to labor disputes or recruitment difficulties reported during the year[26] - The group has maintained good relationships with employees, customers, and suppliers, with no significant disputes reported during the period[65]

Financial Performance - The total revenue for the period was approximately HKD 113,019,000, a decrease of about HKD 12,477,000 or 9.9% compared to HKD 125,466,000 for the same period last year[18]. - The gross profit for the period was approximately HKD 15,987,000, with a gross profit margin of approximately 14.1%, compared to a gross loss of HKD 7,847,000 and a gross loss margin of 6.3% for the same period last year[20]. - The net profit for the period was approximately HKD 5,390,000, a significant improvement from a net loss of approximately HKD 15,484,000 for the same period last year[24]. - Revenue for the six months ended September 30, 2021, was HKD 113,019,000, a decrease of 9.8% compared to HKD 125,466,000 for the same period in 2020[57]. - Gross profit for the same period was HKD 15,987,000, compared to a gross loss of HKD 7,847,000 in the previous year, indicating a significant recovery[57]. - Operating profit for the six months was HKD 6,338,000, a turnaround from an operating loss of HKD 15,172,000 in the prior year[57]. - The company reported a net profit of HKD 5,390,000 for the period, compared to a net loss of HKD 15,484,000 in the previous year[57]. - The operating profit for the six months ended September 30, 2021, was HKD 10,108,000, compared to HKD 7,061,000 for the same period in 2020, representing an increase of approximately 43%[79]. - The group reported other income of HKD 2,170,000 for the six months ended September 30, 2021, down from HKD 5,090,000 in the same period of 2020, reflecting a decrease of approximately 57%[77]. Expenses and Cost Management - Administrative expenses for the period were approximately HKD 12,131,000, a decrease of about HKD 216,000 or 1.7% compared to HKD 12,347,000 for the same period last year, due to effective cost control[22]. - Employee expenses for the six months ended September 30, 2021, were HKD 21,183,000, a decrease of approximately 43% from HKD 37,249,000 in the same period of 2020[79]. - Depreciation expenses for property, plant, and equipment increased to HKD 7,550,000 for the six months ended September 30, 2021, compared to HKD 6,405,000 in the same period of 2020, reflecting an increase of approximately 18%[79]. - The group incurred finance costs of HKD 948,000 for the six months ended September 30, 2021, compared to HKD 312,000 in the same period of 2020, representing an increase of approximately 203%[80]. Assets and Liabilities - The group had a total of nine projects on hand with a total contract value of approximately HKD 472,800,000, four of which are expected to be completed in the next fiscal year[17]. - Total assets as of September 30, 2021, were HKD 187,867,000, a decrease from HKD 201,841,000 as of March 31, 2021[58]. - The company's cash and cash equivalents decreased to HKD 14,485,000 from HKD 21,780,000 at the beginning of the period[64]. - The company's equity as of September 30, 2021, was HKD 160,460,000, up from HKD 155,070,000 as of March 31, 2021[60]. - The total bank loans as of September 30, 2021, amounted to approximately HKD 23,364,000, an increase from HKD 19,459,000 as of March 31, 2021, representing a growth of 20%[101]. - Trade payables as of September 30, 2021, were HKD 48,102,000, up from HKD 46,672,000 as of March 31, 2021, indicating an increase of 3%[106]. - The group’s total liabilities included trade payables and other payables amounting to HKD 76,193,000 as of September 30, 2021, down from HKD 87,995,000 as of March 31, 2021, reflecting a decrease of 13%[106]. Shareholder Information - The major shareholder, Creative Elite Global Limited, holds 495,000,000 shares, representing 72.29% of the company's equity[34]. - The company’s major shareholders include individuals with significant stakes in Creative Elite Global Limited, with percentages of 45%, 28%, and 18% held by different directors[37]. - The company has not reported any changes in the ownership structure of its shares as of September 30, 2021[38]. - The weighted average number of ordinary shares used for calculating basic earnings per share remained constant at 684,750,000 shares for both periods[86]. - The group’s issued and fully paid ordinary shares as of September 30, 2021, were 684,750,000 shares, with a total value of HKD 6,848,000[108]. Corporate Governance and Future Outlook - The company maintains a high level of corporate governance and has complied with all applicable codes during the reporting period[47]. - The company’s board believes that enhancing public accountability and corporate governance will benefit the company's performance and shareholder interests[47]. - The management remains optimistic about future business prospects, citing government focus on increasing land supply for private residential and commercial buildings in Hong Kong[17]. - The company plans to continue focusing on operational efficiency and cost management to enhance profitability in the future[53]. - The group continues to focus on foundation engineering services in Hong Kong and Macau, with no independent operating segment financial information presented due to the unified resource allocation[73]. Cash Flow and Financing - Net cash generated from operating activities was HKD 3,203,000, compared to a net cash used of HKD 2,813,000 in the same period last year[64]. - The company has no current tax liabilities due to accumulated tax losses offsetting taxable profits for the period[83]. - The company has pledged its short-term deposits as collateral for bank financing[100]. - The actual interest rate for bank loans ranged from 2.75% to 5.00% as of September 30, 2021, compared to a fixed rate of 5.00% as of March 31, 2021[105]. Other Information - The company has not made any significant investments or acquisitions during the period[28][29]. - The company has not declared an interim dividend for the six months ending September 30, 2021[46]. - The company did not recommend the payment of an interim dividend for the six months ended September 30, 2021, consistent with the previous year[85]. - The group has not reported any significant events or transactions that would materially affect the financial position and performance since the publication of the consolidated financial statements for the year ended March 31, 2021[68]. - The group has three labor claims arising from normal business operations, with no specific claim amounts determined at the time of reporting[112].