Financial Performance - The Group recorded a revenue increase of approximately HK$172.1 million, or 43.4%, from approximately HK$396.3 million in FY2019 to approximately HK$568.4 million in FY2020[12]. - The profit for the Year was approximately HK$26.0 million, representing an increase of 14.5% or HK$3.3 million from approximately HK$22.7 million in FY2019[13]. - Revenue from MVAC system projects contributed 79.3% of total revenue, while low voltage electrical system projects contributed 20.7%[12]. - The revenue contribution from low voltage electrical system projects remained stable at around 20% from FY2019 to FY2020[22]. - Gross profit increased by approximately HK$7.2 million, or 15.1%, from approximately HK$47.6 million for FY2019 to approximately HK$54.8 million for FY2020, while gross profit margin decreased by approximately 2.4 percentage points to 9.6%[49]. - Revenue increased by approximately HK$171.2 million, or 43.4%, from approximately HK$396.3 million for FY2019 to approximately HK$568.4 million for FY2020, driven by larger average contract sizes and increased completed work[53]. Project Awards and Contracts - The Group was awarded 7 MVAC system installation projects with an aggregate contract sum of approximately HK$682.8 million during the Year[15]. - The Group was awarded 7 projects in FY2020 with an aggregate contract sum of approximately HK$682.8 million, primarily related to MVAC system installation[37]. - Two projects were awarded after FY2020 with an aggregate contract sum of approximately HK$299.6 million, also related to MVAC system installation[46]. - Major projects undertaken in FY2020 included MVAC system installations for residential and non-residential developments[41]. Strategic Plans and Market Outlook - The Group plans to adopt a more competitive pricing strategy to bid for sizable projects amidst macro-environment challenges[25]. - The Group aims to maintain stable revenue and earnings while pursuing targeted projects with reasonable profit margins[25]. - The Group intends to diversify its projects into plumbing and drainage systems and other E&M engineering services[30]. - The Hong Kong Government's infrastructure initiatives are expected to increase demand for construction and E&M engineering services in the future[24]. - The Group maintains a positive outlook for steady growth in the coming years based on its established reputation and experience in the industry[30]. Financial Position and Ratios - As of March 31, 2020, the Group's cash and cash equivalents were approximately HK$139.4 million, an increase from HK$71.3 million in FY2019[62]. - The current ratio as of March 31, 2020, was approximately 2.8 times, slightly down from 2.9 times in FY2019[63]. - The Group's gearing ratio as of March 31, 2020, was approximately 2.6%, down from 3.9% in FY2019[75]. - As of March 31, 2020, the Group's net current assets were approximately HK$217.9 million, an increase from HK$200.2 million in 2019, primarily due to net profit generated during FY2020[79]. Administrative and Tax Expenses - Administrative expenses increased by approximately HK$1.5 million, from approximately HK$19.5 million for FY2019 to approximately HK$21.0 million for FY2020[57]. - Income tax expenses increased by approximately HK$1.1 million, from approximately HK$4.6 million for FY2019 to approximately HK$5.7 million for FY2020, with an effective tax rate of approximately 18.1%[59]. Employee and Training Initiatives - The total number of employees increased to 146 as of March 31, 2020, from 120 in 2019[99]. - The Group has developed a wide range of training activities for employee development, including induction programs and external training[180]. - Employees participated in various training courses covering topics such as Building Information Modeling and building energy efficiency, contributing to their professional growth[186]. - The Group has implemented extensive training programs, including on-the-job and external training, to enhance employee performance and development[183]. Environmental, Social, and Governance (ESG) Initiatives - The ESG working group is responsible for monitoring legal updates and ensuring compliance with relevant laws and regulations[118]. - Stakeholder engagement is prioritized to understand ESG issues, with communication channels established for shareholders, employees, customers, suppliers, and the community[121]. - A materiality assessment has been conducted to identify relevant ESG issues and their significance to the Group and stakeholders[125]. - Key material ESG issues include air and greenhouse gas emissions, waste management, energy consumption, and noise control[126]. - The Group has established an ISO 14001:2015 accredited environmental management system to emphasize environmental stewardship throughout its operations[162]. Compliance and Risk Management - The audit committee is responsible for risk management and internal control systems, ensuring ESG risks are covered[115]. - The Group strictly observes relevant statutory requirements, including the Occupational Safety and Health Ordinance, with no material non-compliance reported during the year[179]. - The Group has a strict internal control system to prevent bribery and corruption, ensuring effective corporate governance[200].

Revenue and Profitability - Revenue increased by approximately HK$152.0 million, or 97.7%, from approximately HK$155.5 million in the last period to approximately HK$307.5 million in the current period[9]. - Revenue from MVAC system projects accounted for approximately 80.4% of total revenue, while low voltage electrical system projects contributed approximately 19.6% in the current period[17]. - Gross profit increased by approximately HK$15.2 million, or 97.4%, from approximately HK$15.6 million for the Last Period to approximately HK$30.8 million for the Current Period[23]. - Profit attributable to owners of the Company increased by approximately HK$10.7 million or approximately 191.1%, from approximately HK$5.6 million for the Last Period to approximately HK$16.3 million for the Current Period[35]. - Profit before taxation increased to HK$19,615,000, a rise of 191.5% from HK$6,725,000 in the previous year[129]. - Profit and total comprehensive income for the period was HK$16,298,000, compared to HK$5,611,000 in 2018, marking an increase of 189.5%[129]. - Basic earnings per share rose to 4.1 HK cents, up from 1.4 HK cents in the same period last year[129]. Project Awards and Operations - The Group was awarded 7 projects with an aggregate contract sum of approximately HK$682.8 million related to MVAC system installation during the current period[10]. - The five largest projects awarded in the current period include a residential development at Kai Tak with a contract sum of HK$235.6 million and another at the same location for HK$163.8 million[13]. - Major projects undertaken in the current period continued to focus on the supply, installation, and maintenance of MVAC systems and low voltage electrical systems[18]. - The Group was awarded 7 projects with an aggregate contract sum of approximately HK$682.8 million during the Current Period[21]. Financial Position and Cash Flow - As at 30 September 2019, the Group held cash and cash equivalents of approximately HK$136.9 million, up from HK$71.3 million as of 31 March 2019[43]. - The current ratio of the Group was approximately 2.4 times as at 30 September 2019, down from 2.9 times as of 31 March 2019[44]. - Total bank borrowings as of September 30, 2019, were approximately HK$7.7 million, a decrease from HK$9.2 million as of March 31, 2019[48]. - Net current assets increased to approximately HK$204.6 million as of September 30, 2019, from HK$200.2 million as of March 31, 2019[52]. - Operating cash flows before movements in working capital for the six months ended 30 September 2019 were HK$21,768,000, up from HK$6,984,000 in the previous year, reflecting a significant increase of approximately 211.5%[138]. - Net cash from operating activities for the six months ended 30 September 2019 was HK$51,246,000, compared to a net cash used of HK$909,000 in the same period of 2018[138]. - Cash and cash equivalents at the end of the period increased to HK$136,918,000 from HK$71,315,000 at the beginning of the period, marking a rise of approximately 92.0%[138]. Expenses and Liabilities - Administrative expenses increased by approximately HK$1.4 million, or approximately 14.9%, from approximately HK$9.4 million for the Last Period to approximately HK$10.8 million for the Current Period[32]. - Income tax expenses increased by approximately HK$2.2 million, from approximately HK$1.1 million for the Last Period to approximately HK$3.3 million for the Current Period[34]. - Current liabilities increased to HK$148,704,000 from HK$106,682,000, reflecting a rise of 39.4%[131]. - The increase in trade payables was HK$29,403,000 for the six months ended 30 September 2019, compared to an increase of HK$1,649,000 in the previous year[138]. Employee and Corporate Governance - As of September 30, 2019, the Group had a total of 136 employees, an increase from 120 employees as of March 31, 2019[79]. - The Company complied with all relevant code provisions set out in the Corporate Governance Code during the current period[90]. - Following the appointment of Dr. Law as an independent non-executive Director on November 1, 2019, the Company met the minimum requirements for independent directors[94]. - The Audit Committee consists of three independent non-executive Directors and one non-executive Director, overseeing financial integrity and controls[119]. - The Company has established an Audit Committee to ensure compliance with financial reporting and risk management standards[118]. Accounting Standards and Lease Liabilities - The Group has applied HKFRS 16 "Leases" for the first time in the current interim period, which supersedes HKAS 17 "Leases" and related interpretations[151]. - Lease liabilities are recognized at the present value of unpaid lease payments at the commencement date, using the incremental borrowing rate if the implicit interest rate is not determinable[163]. - The right-of-use assets recognized upon application of HKFRS 16 totaled HK$7,619,000, reflecting the impact of the new accounting standard[197]. - The Group has applied HKFRS 16 retrospectively, recognizing additional lease liabilities and right-of-use assets equal to the related lease liabilities adjusted by any prepaid or accrued lease payments as of April 1, 2019[188]. - The cumulative effect of applying HKFRS 16 is recognized in the opening retained profits, and comparative information has not been restated[188].

Financial Performance - The Group recorded a revenue increase of approximately HK$28.4 million, or 7.7%, from approximately HK$367.9 million in FY2018 to approximately HK$396.3 million in FY2019[13]. - The profit for the Year was approximately HK$22.7 million[13]. - Gross profit decreased by approximately HK$14.7 million, or 23.6%, from approximately HK$62.3 million for FY2018 to approximately HK$47.6 million for FY2019[46]. - Gross profit margin decreased by approximately 4.9 percentage points, from approximately 16.9% for FY2018 to approximately 12.0% for FY2019[51]. - Profit attributable to owners of the Company decreased by approximately HK$12.9 million, or approximately 36.2%, from approximately HK$35.6 million for FY2018 to approximately HK$22.7 million for FY2019[58]. - The Group's revenue increased by approximately HK$28.4 million, or 7.7%, from approximately HK$367.9 million in FY2018 to approximately HK$396.3 million in FY2019[26]. - Revenue contribution from MVAC system projects was approximately 79.5%, while low voltage electrical system projects contributed approximately 20.5% for FY2019[50]. Project Awards and Contributions - The Group was awarded 23 projects with an aggregate contract sum of approximately HK$693.3 million, including 3 projects related to electrical system installation worth approximately HK$286.4 million[14]. - A key project includes a contract sum of approximately HK$214.3 million for electrical installation in a proposed residential development in Ap Lei Chau[21]. - Major projects undertaken in FY2019 contributed approximately 79.5% from MVAC system and 20.5% from low voltage electrical system[32]. - The Group has been awarded 5 additional projects post-FY2019 with an aggregate contract sum of approximately HK$283.3 million related to MVAC system installation[36]. Strategic Initiatives - The Group has adopted a more competitive pricing strategy to maintain stable revenue and earnings amid industry challenges[20]. - The Group maintains a positive outlook for steady business growth in the coming years due to its established reputation and experience in the industry[40]. - The construction industry in Hong Kong continues to expand, driven by government initiatives for public housing and infrastructure projects[37]. - The Group faces challenges such as labor shortages and intensified competition, prompting a more competitive pricing strategy for sizable projects[38]. Financial Position and Liquidity - As of March 31, 2019, the Group's capital structure included equity of approximately HK$236.9 million and bank borrowings of approximately HK$9.2 million[59]. - The Group held cash and cash equivalents of approximately HK$71.3 million as of March 31, 2019, down from HK$158.9 million in 2018[61]. - The current ratio of the Group was approximately 2.9 times as of March 31, 2019, compared to 3.0 times in 2018[62]. - The Group's gearing ratio was approximately 3.9%, a decrease from 5.3% in 2018[72][76]. - The Group reported net current assets of approximately HK$200.2 million as of 31 March 2019, up from HK$173.0 million in 2018, primarily due to net profit generated from operations[73][77]. - The Group maintains sufficient cash reserves and committed lines of funding to meet its liquidity requirements, with no significant liquidity issues reported[74]. Environmental, Social, and Governance (ESG) Initiatives - The Group has established a governance framework to align ESG governance with strategic development[115]. - The total indirect GHG emissions for FY2019 were 67.26 tonnes CO2e, an increase from 58.43 tonnes in FY2018, primarily due to the inclusion of new office areas[139]. - The GHG emissions intensity decreased to 0.004 tonnes CO2e per square foot in FY2019 from 0.005 tonnes per square foot in FY2018, reflecting energy-saving initiatives[139]. - The Group has not identified any material non-compliance with environment-related laws and regulations in Hong Kong during the year[138]. - The Group's environmental management system is aligned with ISO 14001:2015 and OHSAS 18001:2007 standards, ensuring high environmental performance[134]. - The Group has implemented a "Manual" for minimizing environmental footprint, focusing on areas such as GHG emissions, energy consumption, and waste disposal[134]. - The Group's commitment to managing long-term environmental risks includes monitoring compliance with local and international regulations[137]. - The major source of emissions is indirect GHG emissions from electricity consumption in offices, with no significant direct air emissions generated by the Group[140]. - The Group encourages subcontractors to use low-sulphur diesel and conduct regular inspections to meet emission levels stipulated by law[140]. - The Group has established engagement channels for stakeholders to provide feedback on ESG issues, enhancing transparency and accountability[131]. - The materiality assessment identified key ESG issues, including equal opportunities, occupational health and safety, and supply chain monitoring[133]. Employee Welfare and Safety - The Group emphasizes equal employment opportunities and values diversity, ensuring that recruitment and promotion decisions are based on personal capabilities without discrimination[167]. - The Group has implemented a structured recruitment and termination process to ensure fairness and compliance with the Employment Ordinance[171]. - Employee remuneration is determined based on market levels, Group profitability, regulatory requirements, and individual performance evaluations[173]. - The Group provides competitive remuneration packages and adheres to legal requirements regarding employee compensation, including the Minimum Wage Ordinance[173]. - Employees are entitled to adequate annual leave, sickness allowance, maternity and paternity leave, and reasonable working hours to promote work-life balance[174]. - The Group is committed to occupational health and safety, implementing a management system policy accredited with OHSAS 18001:2007 certification[175]. - The Group has taken measures to control and eliminate occupational health issues, prioritizing the health and safety of employees and subcontractors[175]. - The Group achieved zero injuries or fatalities among direct employees during the Year, demonstrating compliance with occupational health and safety regulations in Hong Kong[181]. - A comprehensive safety risk assessment is conducted before project commencement, with a dedicated safety team ensuring adherence to operational safety protocols[179]. - Regular safety training sessions are organized for employees, focusing on fire hazards and construction safety to enhance emergency response skills[180]. Training and Development - The Group emphasizes the importance of employee training and career development, implementing a wide range of training activities including induction programs and external training[182]. - Employees participated in various training courses covering technical and general topics, such as Building Information Modeling and professional workshops, to enhance their skills[186]. - The Group supports employees in obtaining professional qualifications to enhance their job knowledge and managerial skills[187]. Quality Management - The Group maintains a quality management system accredited with ISO 9001:2015 certification, focusing on customer experience and service quality[197]. - The Group aims to provide effective, reliable, and consistent services to meet client demands and expectations[198]. - The Group conducts periodic internal reviews and data analysis to monitor and improve the effectiveness of the quality management system[198]. - Employees receive appropriate training to enhance skills and knowledge in line with quality requirements[198]. Compliance and Data Protection - The Group adheres to six data protection principles, ensuring the protection of customer information and intellectual property rights[199]. - There were no cases of material non-compliance regarding service quality and data privacy-related laws in Hong Kong during the year[200].