Financial Performance - The total revenue for the period was approximately HKD 125,466,000, a decrease of about HKD 21,392,000 or 14.6% compared to HKD 146,858,000 for the same period last year[22] - The gross loss for the period was approximately HKD 7,847,000, resulting in a gross loss margin of about 6.3%, compared to a gross profit of HKD 2,073,000 and a gross profit margin of 1.4% in the previous year[24] - The net loss for the period was approximately HKD 15,484,000, compared to a net profit of HKD 1,101,000 for the same period last year[28] - Revenue for the six months ended September 30, 2020, was HKD 125,466 thousand, a decrease of 8.8% from HKD 146,858 thousand in the same period of 2019[69] - The company reported a gross loss of HKD 7,847 thousand compared to a gross profit of HKD 2,073 thousand in the previous year[69] - Operating loss for the period was HKD 15,172 thousand, a significant decline from an operating profit of HKD 1,197 thousand in the prior year[69] - The net loss attributable to shareholders for the period was HKD 15,484 thousand, compared to a profit of HKD 1,101 thousand in the same period last year[69] - Basic and diluted loss per share was HKD (2.26), compared to earnings of HKD 0.16 per share in the previous year[69] Expenses and Costs - Service costs for the period were approximately HKD 133,313,000, down by about HKD 11,472,000 or 7.9% from HKD 144,785,000 in the previous year[23] - Administrative expenses increased to approximately HKD 16,085,000, an increase of about HKD 2,886,000 or 21.9% compared to HKD 13,199,000 in the previous year[25] - Total employee compensation costs for the period were approximately HKD 37,249,000, compared to HKD 24,167,000 for the six months ended September 30, 2019[35] - Employee expenses increased to HKD 37,249,000 in 2020 from HKD 24,167,000 in 2019, reflecting a rise of approximately 54%[98] - The group incurred a depreciation expense of HKD 6,405,000 for property, plant, and equipment, compared to HKD 5,889,000 in the previous year, marking an increase of about 9%[98] Assets and Liabilities - As of September 30, 2020, the group's bank balance was approximately HKD 17,449,000, down from HKD 23,044,000 as of March 31, 2020[29] - Total assets as of September 30, 2020, were HKD 206,881 thousand, down from HKD 221,957 thousand as of March 31, 2020[70] - Current liabilities amounted to HKD 106,114 thousand, an increase from HKD 101,474 thousand as of March 31, 2020[70] - The group's interest-bearing debt increased to approximately HKD 17,850,000 as of September 30, 2020, compared to HKD 8,795,000 as of March 31, 2020[29] - The debt-to-equity ratio as of September 30, 2020, was approximately 11.6%, up from 5.2% as of March 31, 2020, due to an increase in bank loans[29] - The group's trade receivables amounted to HKD 19,258,000, a decrease from HKD 22,195,000 as of March 31, 2020, reflecting a reduction of approximately 13.3%[115] - The group's other receivables increased to HKD 20,923,000 as of September 30, 2020, compared to HKD 15,073,000 as of March 31, 2020, representing an increase of approximately 38.5%[115] - The group's cash and cash equivalents decreased to HKD 17,449,000 as of September 30, 2020, down from HKD 23,044,000 as of March 31, 2020, indicating a decline of approximately 24.5%[120] - The total bank loans as of September 30, 2020, were HKD 17,850,000, an increase from HKD 8,795,000 as of March 31, 2020, representing a growth of approximately 102.4%[123] Corporate Governance and Compliance - The company remains committed to high standards of corporate governance and has complied with all applicable codes during the reporting period[58] - The financial statements were prepared in accordance with Hong Kong Accounting Standards and the applicable disclosure requirements of the Listing Rules[82] Business Operations and Strategy - The group had seven projects on hand with a total contract value of approximately HKD 438,000,000, with three projects expected to be completed in the next fiscal year[17] - A new foundation engineering project was awarded after the period, with a contract value of approximately HKD 32,400,000[17] - The group plans to diversify its business in China by acquiring a portion of the issued share capital of Mianyang Chiyuan Real Estate Co., Ltd.[20] - The group aims to mitigate risks and uncertainties by tightening costs, enhancing manpower, and improving information technology and construction processes[20] - The board believes that the government's long-term policies on large infrastructure investment will increase demand for the group's services[20] Cash Flow and Investments - The company reported a net cash outflow from operating activities of HKD (2,813,000) for the six months ended September 30, 2020, compared to a net inflow of HKD 21,354,000 in the same period of 2019[77] - The net cash outflow from investing activities was HKD (10,900,000) for the six months ended September 30, 2020, compared to HKD (27,350,000) in the previous year[77] - The net cash inflow from financing activities was HKD 8,118,000, an increase from HKD 6,683,000 in the same period of 2019[77] - The group did not declare an interim dividend for the six months ended September 30, 2020, consistent with the previous year[104] - There were no significant investments or acquisitions during the period[32][33] Shareholder Information - Major shareholders include Creative Elite Global Limited, holding 495,000,000 shares, representing 72.29% of the total shares[48] - The total equity attributable to owners of the company was HKD 154,061,000 as of September 30, 2020, compared to HKD 169,314,000 at the end of the previous period[74] - The company's retained earnings decreased to HKD 35,402,000 as of September 30, 2020, from HKD 50,656,000 a year earlier[74] - The total equity as of September 30, 2020, included 684,750,000 issued and fully paid ordinary shares, amounting to HKD 6,848,000[127] Risk Management - The group has sufficient insurance coverage to mitigate potential losses from ongoing labor claims, indicating a proactive risk management strategy[131] - The group has not entered into any derivative contracts to hedge foreign exchange risks, as the majority of transactions are conducted in HKD[31] - The group had no taxable profits for the period, resulting in no provision for Hong Kong profits tax[103]

Financial Performance - The total revenue for the fiscal year was approximately HKD 351,944,000, an increase of about 45.7% compared to the previous year's revenue of HKD 241,612,000[24]. - The gross profit for the year was approximately HKD 15,117,000, with a gross profit margin of about 4.3%, compared to a gross loss of HKD 8,554,000 in the previous year[27]. - The company recorded a net profit of approximately HKD 1,331,000, a significant recovery from a net loss of HKD 45,321,000 in the previous year[31]. - The total employee compensation for the year was approximately HKD 64,628,000, compared to HKD 41,865,000 in the previous year, reflecting a significant increase[36]. - The construction contract revenue for the year ended March 31, 2020, was approximately HKD 351,944,000[198]. Financial Position - As of March 31, 2020, the company had a bank balance of approximately HKD 23,044,000, down from HKD 40,997,000 the previous year[32]. - The company had a debt of approximately HKD 8,795,000, an increase from HKD 5,489,000 the previous year, resulting in a debt-to-equity ratio of about 5.2%[32]. - As of March 31, 2020, the group's bank deposits used as collateral amounted to approximately HKD 20,689,000, an increase from HKD 19,671,000 as of March 31, 2019[33]. - The group had no capital commitments or significant contingent liabilities as of March 31, 2020, maintaining a stable financial position[37][38]. Cost Management and Efficiency - Administrative expenses decreased by approximately 34.5% to HKD 32,812,000 from HKD 50,102,000 in the previous year[29]. - The company is implementing strict cost control measures to enhance project management efficiency and maintain competitiveness in the construction industry[19]. Future Outlook and Growth Strategy - The company plans to utilize the remaining unutilized funds from the IPO for purchasing machinery and equipment, with expected expenditures of approximately HKD 9,125,000 by March 31, 2021[42]. - The company has set a future outlook with a revenue target of HKD 1.5 billion for the next fiscal year, indicating a projected growth of 25%[60]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share within the next three years[60]. - A strategic acquisition of a local competitor is in progress, which is anticipated to increase the company's market share by 5%[60]. Project Management - The company has nine ongoing projects with a total contract value of approximately HKD 715,058,000, five of which are expected to be completed in the next fiscal year[22]. - User data indicates a steady increase in project completions, with a total of 150 projects completed in the last year, up from 130 the previous year, marking a 15% increase[60]. Corporate Governance - The company has adhered to all applicable corporate governance codes since its listing date, ensuring high levels of accountability and governance[46]. - The audit committee has been established in accordance with listing rules, serving as a communication bridge between the board, external auditors, and management[48]. - The board consists of six directors, including three executive directors and three independent non-executive directors, ensuring a balance of power and safeguarding shareholder interests[142]. - The company has established a risk management policy to identify, assess, and manage significant risks affecting the business[174]. Compliance and Regulations - The company has confirmed compliance with relevant laws and regulations that significantly impact its business operations during the reporting period[137]. - The independent auditor's report confirms that the consolidated financial statements fairly reflect the group's financial position as of March 31, 2020[193]. Shareholder Relations - The company encourages shareholders to attend annual general meetings to understand the business's current status and communicate their concerns[180]. - The company has a dedicated investor relations department to respond to public inquiries and feedback[186]. Risks and Challenges - Key risks include potential revenue fluctuations due to client-initiated project changes, which may adversely affect profitability[86]. - Increased competition in the construction industry due to project approval delays and a shortage of construction workers, leading to reduced profit margins[87]. - The company faces significant risks if there are inaccuracies in estimating project costs and timelines during the bidding process, which could lead to substantial losses[89]. Social Responsibility - The company made charitable donations of approximately HKD 40,000 during the reporting period, up from HKD 33,000 in the previous year[92].

Financial Performance - The total revenue for the period was approximately HKD 146,858,000, representing an increase of about 27.1% compared to HKD 115,557,000 for the same period last year[11] - The gross profit margin for the period was approximately 1.4%, a decrease from 4.9% in the same period last year, primarily due to lower project profitability[12] - The net profit for the period was approximately HKD 1,101,000, a significant improvement from a net loss of HKD 22,128,000 in the same period last year[15] - The operating profit for the six months was HKD 1,197,000, a significant recovery from an operating loss of HKD 26,731,000 in the previous year[48] - The company reported a basic and diluted earnings per share of HKD 0.16, a recovery from a loss per share of HKD 3.23 in the previous year[48] - The company reported revenue of HKD 146,858,000 for the six months ended September 30, 2019, an increase of 27% compared to HKD 115,557,000 for the same period in 2018[48] Expenses and Costs - Administrative expenses for the period were approximately HKD 13,199,000, a decrease of about 60.0% compared to HKD 33,010,000 for the same period last year[13] - The company’s operating profit for the six months ended September 30, 2019, was impacted by employee benefit expenses amounting to HKD 24,167,000, compared to HKD 19,094,000 in the previous year[79] - Depreciation expenses for property, plant, and equipment amounted to HKD 5,889,000, up from HKD 5,123,000 in the previous year[79] - The finance costs for the six months ended September 30, 2019, totaled HKD 97,000, compared to HKD 48,000 in 2018[80] Cash Flow and Financial Position - The net cash generated from operating activities for the six months ended September 30, 2019, was HKD 21,354,000, compared to a net cash used of HKD 8,282,000 in the same period of 2018[55] - The net cash used in investing activities was HKD 27,350,000, an increase from HKD 1,176,000 in the previous year[55] - The net cash generated from financing activities was HKD 6,683,000, compared to a net cash used of HKD 1,141,000 in 2018[55] - The cash and cash equivalents increased by HKD 687,000, reversing a decrease of HKD 10,599,000 in the prior year[55] - The group’s cash and cash equivalents were HKD 40,137,000 as of September 30, 2019, compared to HKD 40,997,000 as of March 31, 2019[97] Debt and Liabilities - The group’s interest-bearing debt was approximately HKD 8,000,000 as of September 30, 2019, an increase from HKD 5,500,000 as of March 31, 2019[16] - The debt-to-equity ratio as of September 30, 2019, was approximately 4.7%, up from 3.3% as of March 31, 2019, due to an increase in bank loans[16] - Current liabilities increased to HKD 97,033,000 from HKD 59,019,000, reflecting a rise in trade payables and bank loans[49] - The total lease liabilities as of September 30, 2019, were HKD 14,778,000, with current liabilities at HKD 8,794,000 and non-current liabilities at HKD 5,984,000[108] Shareholder Information - As of September 30, 2019, the major shareholder, Creative Elite Global Limited, holds 495,000,000 shares, representing 72.29% of the company's equity[26] - The shareholding percentage of Creative Elite Global Limited decreased from 75% to 72.29% due to the issuance of 24,750,000 shares on December 2, 2016[33] - The board has decided not to declare an interim dividend for the six months ending September 30, 2019[39] - The company did not recommend any interim dividend for the six months ended September 30, 2019, consistent with the previous year[83] Project and Business Development - The group is focusing on prudent development of its core business while exploring additional opportunities, including general construction services, to diversify revenue sources[9] - The group currently has seven projects with a total contract value of approximately HKD 537,800,000, with two projects expected to be completed in the next fiscal year[8] Use of Proceeds - The net proceeds from the IPO amount to approximately HKD 95,300,000 after deducting underwriting fees and expenses[24] - As of the report date, the actual use of proceeds for purchasing machinery and equipment is HKD 49,283,000, leaving HKD 17,765,000 unutilized[24] - The company plans to utilize the unspent amount of HKD 17,765,000 for purchasing specific machinery by March 31, 2020, including HKD 6,060,000 for pile drivers and HKD 3,756,000 for hydraulic hammers[25] Compliance and Governance - The company has complied with all applicable code provisions of the Corporate Governance Code during the reporting period[40] - The company has established an audit committee to enhance communication between the board, external auditors, and management regarding financial reporting and internal controls[42] Other Financial Metrics - The total assets as of September 30, 2019, were HKD 218,792,000, an increase from HKD 181,249,000 as of March 31, 2019[49] - The company's equity as of September 30, 2019, was HKD 169,314,000, up from HKD 168,215,000 as of March 31, 2019[50] - The group recognized a credit loss reversal of HKD 2,179,000 for trade receivables and HKD 5,455,000 for contract assets during the reporting period[79] - The group recorded a profit of approximately HKD 3,881,000 from the sale of properties, plants, and equipment, compared to a loss of HKD 80,000 in the same period last year[86]

Financial Performance - The total revenue for the year ended March 31, 2019, was approximately HKD 241,612,000, representing an increase of about 9.7% compared to the previous year (HKD 220,240,000) [16] - The group recorded a gross loss of approximately HKD 8,554,000 for the year, compared to a gross profit of HKD 7,716,000 in the previous year, resulting in a gross loss margin of approximately 3.5% [17] - The net loss for the year was approximately HKD 45,321,000, compared to a net loss of HKD 25,716,000 in the previous year [22] - The total employee compensation cost for the year was approximately HKD 41,900,000, a decrease from HKD 49,400,000 in the previous year, reflecting a reduction of about 11.4% [28] Cash and Debt Management - As of March 31, 2019, the group had cash and bank balances of approximately HKD 41,000,000, down from HKD 50,100,000 the previous year [23] - The group had interest-bearing debt of approximately HKD 5,500,000 as of March 31, 2019, compared to HKD 2,300,000 the previous year, resulting in a debt-to-equity ratio of approximately 3.3% [23] Project and Business Development - The group had seven ongoing projects with a total contract value of approximately HKD 557,500,000 as of March 31, 2019 [14] - Two new foundation engineering projects were awarded after the fiscal year-end, with a total contract value of approximately HKD 79,100,000 [14] - The company aims to enhance its project management skills and diversify its service offerings to capture more business opportunities [15] - The management anticipates that government policies regarding large infrastructure projects will benefit the group's business demand in the future [15] Corporate Governance and Compliance - The company has maintained compliance with all applicable corporate governance codes since its listing [42] - The board will decide on dividend declarations based on factors such as operational performance, financial condition, and liquidity [47] - The company reserves the right to update or modify its dividend policy at any time without any legal obligation to declare dividends [50] - The company has adopted corporate governance practices as detailed in the corporate governance report [136] Market and Strategic Outlook - The company provided an optimistic outlook for the next fiscal year, projecting a revenue increase of 10% to HKD 1.32 billion [56] - New product development initiatives are underway, with an investment of HKD 50 million allocated for research and development in innovative construction technologies [56] - The company plans to expand its market presence in Southeast Asia, targeting a 20% increase in market share within the next two years [56] - A strategic acquisition of a local construction firm is in progress, expected to enhance operational capabilities and increase revenue by an estimated HKD 200 million annually [56] Sustainability and Quality Control - The company emphasized its commitment to sustainability, with plans to implement eco-friendly practices across all projects, aiming for a 30% reduction in carbon footprint by 2025 [56] - Quality control measures have been strengthened, resulting in a 25% decrease in project delays due to compliance issues [56] Risk Management - Key risks identified include potential revenue fluctuations due to client-initiated project changes, which may significantly impact profitability [88] - The construction industry is facing intensified competition due to a decrease in available projects and rising construction costs [89] - The company has established risk management policies to identify and manage significant risks affecting the business [185] Shareholder Engagement - The company encourages shareholders to attend general meetings to communicate with the board and management [191] - The company has adopted a policy for the timely and accurate disclosure of significant information [186] Board Structure and Meetings - The board of directors consists of six members, including three executive directors and three independent non-executive directors, ensuring a balance of expertise and experience [150] - The board held four meetings during the reporting period to discuss overall strategy and financial performance [154] - The audit committee held three meetings during the reporting period to review the group's accounts and internal control reports [166] Financial Transparency - The company aims to provide high levels of disclosure and financial transparency to shareholders and investors [190] - The consolidated financial statements for the reporting period were audited by KPMG, which will be proposed for reappointment at the upcoming annual general meeting [143]