香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示 概 不 就 因 本 公 告 全 部 或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 Zhaobangji Lifestyle Holdings Limited 兆邦基生活控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1660） 股東週年大會通告 茲通告 兆 邦 基 生 活 控 股 有 限 公 司（「本公司」）謹 訂 於 二 零 二 五 年 八 月 二 十 二 日（星 期 五）上 午 十 時 半 假 座 香 港 干 諾 道 中168–200號信德中心招商局大廈11樓13–15室 舉 行 股 東 週 年 大 會（「股東週年大會」），藉 以 考 慮 並 酌 情 通 過 下 列 決 議 案（無 論 有 否 修 訂）為 普 通 決 議 案： 「供 股」指 於 董 事 指 定 的 期 間 內，向 於 指 定 記 錄 日 期 名 列 本 公 司 股 東 名 冊 的 股 份 持 有 人，按 其 當 時 持 股 比 例 提 呈 發 售 ...

此乃要件 請即處理 閣下如 對本通函任何方面 有任何疑問，應諮詢 閣下的股票經紀或其他註冊證券交易商、 銀行經理、律師、專業會計師或其他專業顧問。 閣下如已出售或轉讓 名下所有的兆邦基生活控股有限公司股份，應立即將本通函連同隨附 的代表委任表格交予買主或承讓人，或經手買賣或轉讓的銀行、股票經紀或其他代理商， 以便轉交買主或承讓人。 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文件的內容概不負責，對其準 確性或完整性亦不發表任何聲明，並明確表示概不就因本文件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。 Zhaobangji Lifestyle Holdings Limited 兆邦基生活控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1660） (1)建議授出發行及購回股份的一般授權 (2)建議重選董事 及 (3)股東週年大會通告 本 公 司 謹 訂 於 二 零 二 五 年 八 月 二 十 二 日（星 期 五）上 午 十 時 半 假 座 香 港 干 諾 道 中168–200號 信德中心招商局大廈11樓13–15室 舉 行 股 東 週 年 大 會，在 大 會 或 其 ...

2025 About ESG Report 關於本報告 兆邦基生活控股有限公司（「本公司」）發表的 環境、社會及管治報告（「ESG報告」）闡述本 公司及其附屬公司（統稱「我們」或「本集團」）在 促進全面可持續發展方面取得重要的成果。 本公司視可持續發展為最重要的一環，務求 為顧客及持份者創造長遠價值。ESG報告詳 述本集團在全面實施可持續發展原則及社會 和治管治政策方面的各種工作。 Zhaobangji Lifestyle Holdings Limited (the "Company") has published an Environmental, Social and Governance ("ESG") report in which the Company and its subsidiaries (collectively, "we" or the "Group") have made significant achievements in sustainability. Sustainable development has been a priority for the Company with ...

2024/25 ANNUAL REPORT 年報 ZH A O BANGJI LIFESTYLE HOLDINGS LIMITE D 兆 邦 基 生活控 股 有 限 公 司 2024/25 ANN UAL REPORT 年 報 CONTENTS 目錄 | Corporate Information | 公司資料 | 2 | | --- | --- | --- | | Chairman's Statement | 主席報告 | 5 | | Management Discussion and Analysis | 管理層討論及分析 | 6 | | Biographical Details of Directors and Senior Management | 董事及高級管理層履歷詳情 | 16 | | Corporate Governance Report | 企業管治報告 | 20 | | Report of the Directors | 董事會報告 | 44 | | Independent Auditor's Report | 獨立核數師報告 | 60 | | Consolidated Statement ...

Financial Performance [Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=2&type=section&id=Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) The company's total revenue decreased by 26.1% to HKD 198 million, leading to a significant net loss of HKD 77.8 million due to reduced gross profit and increased impairments Summary of Consolidated Statement of Profit or Loss | Indicator | 2025 (HKD '000) | 2024 (HKD '000) | YoY Change | | :--- | :--- | :--- | :--- | | Revenue | 197,899 | 267,691 | -26.1% | | Gross Profit | 21,020 | 41,313 | -49.1% | | Loss from Operations | (86,607) | (28,499) | +203.9% | | Loss for the Year | (77,805) | (28,034) | +177.5% | | Loss Attributable to Owners of the Company | (77,805) | (28,034) | +177.5% | - Basic and diluted loss per share attributable to owners of the company was **1.26 HK cents**, compared to **0.45 HK cents** in the prior year[5](index=5&type=chunk) [Consolidated Statement of Financial Position](index=4&type=section&id=Consolidated%20Statement%20of%20Financial%20Position) As of March 31, 2025, the Group's total assets decreased by 19.4% to HKD 416 million, while total liabilities reduced to HKD 98.6 million, resulting in net assets of HKD 317 million and improved liquidity with net current assets increasing to HKD 155 million Summary of Consolidated Statement of Financial Position | Indicator | 2025 (HKD '000) | 2024 (HKD '000) | YoY Change | | :--- | :--- | :--- | :--- | | Non-current Assets | 168,020 | 308,994 | -45.6% | | Current Assets | 247,945 | 207,368 | +19.6% | | **Total Assets** | **415,965** | **516,362** | **-19.4%** | | Current Liabilities | 93,311 | 100,453 | -7.1% | | Non-current Liabilities | 5,293 | 17,224 | -69.3% | | **Total Liabilities** | **98,604** | **117,677** | **-16.2%** | | **Net Assets** | **317,361** | **398,685** | **-20.4%** | Notes to the Financial Statements [General Information and Basis of Preparation](index=6&type=section&id=General%20Information%20and%20Basis%20of%20Preparation) The company, an investment holding company listed on the HKEX, primarily engages in machinery trading, leasing, and money lending in Hong Kong, alongside property management, leasing, and retail services in Mainland China, with financial statements prepared under HKFRS - The Group primarily engages in **machinery and parts trading**, **machinery leasing and related services**, and **money lending** in Hong Kong, as well as **property management services**, **machinery leasing**, **property leasing**, **sub-leasing**, **retail**, **money lending**, and other businesses in China[8](index=8&type=chunk) - The consolidated financial statements are prepared in accordance with all applicable **Hong Kong Financial Reporting Standards** issued by the Hong Kong Institute of Certified Public Accountants[9](index=9&type=chunk) [Changes in Accounting Standards](index=7&type=section&id=Changes%20in%20Accounting%20Standards) The Group adopted new and revised HKFRS effective April 1, 2024, with no significant impact on current financial statements, while noting future adoption of HKFRS 18 may affect the structure of the statement of profit or loss and cash flow statement - The adoption of revised Hong Kong Financial Reporting Standards had **no significant impact** on the preparation and presentation of the current and prior years' results and financial position[10](index=10&type=chunk) - Among new standards issued but not yet effective, **HKFRS 18 'Presentation and Disclosure in Financial Statements'** is expected to impact the Group's consolidated statement of profit or loss, cash flow statement structure, and disclosure of management performance measures, effective April 1, 2027[14](index=14&type=chunk)[15](index=15&type=chunk)[16](index=16&type=chunk) [Revenue Analysis](index=9&type=section&id=Revenue%20Analysis) Total revenue for the year was HKD 198 million, with HKD 142 million from customer contracts, primarily property management and leasing in China, and HKD 56 million from other sources, mainly machinery leasing in Hong Kong Revenue by Major Product or Service Line | Revenue Source | 2025 (HKD '000) | 2024 (HKD '000) | | :--- | :--- | :--- | | **Revenue from Contracts with Customers (HKFRS 15)** | | | | Sales of machinery and spare parts | 2,434 | 22,401 | | Property management services | 84,689 | 78,369 | | Property leasing, sub-leasing, retail and others | 54,675 | 71,132 | | **Sub-total** | **141,936** | **174,309** | | **Revenue from Other Sources** | | | | Leasing of machinery and provision of related services | 48,390 | 81,946 | | Interest income from loans receivable | 4,889 | 3,782 | | Property leasing, sub-leasing, retail and others | 2,684 | 7,654 | | **Sub-total** | **55,963** | **93,382** | | **Total Revenue** | **197,899** | **267,691** | - Geographically, revenue from China (excluding Hong Kong) was **HKD 147 million**, accounting for approximately **74.3%** of total revenue, with revenue from Hong Kong at **HKD 50.81 million**[28](index=28&type=chunk) [Segment Information](index=11&type=section&id=Segment%20Information) The Group's operations are categorized into five reportable segments; the former 'Transportation' segment was merged into 'Leasing' due to reduced scale, with the Leasing segment turning to a pre-tax loss of HKD 32.11 million, becoming the primary loss driver, while only money lending achieved profit growth - Due to a significant decrease in revenue and operational scale, the **Transportation segment** is no longer classified as a reportable segment and has been **reclassified into the Leasing segment**, with comparative figures restated[22](index=22&type=chunk) Pre-tax (Loss) / Profit by Segment | Segment | 2025 (HKD '000) | 2024 (HKD '000) | | :--- | :--- | :--- | | Trading | (5,009) | (5,353) | | Leasing | (32,109) | 9,146 | | Property Management | (7,580) | 4,358 | | Property Leasing, Sub-leasing, Retail and Others | (3,984) | (748) | | Money Lending | 2,376 | 704 | | **Total Reportable Segment (Loss) / Profit** | **(46,306)** | **8,107** | - Customer A, from the Leasing segment, which contributed over **10%** of the Group's revenue in the prior year, did not exceed **10%** of transactions in the current year, and no single customer contributed over **10%** of the Group's revenue this year[31](index=31&type=chunk) [Key Asset and Liability Items](index=16&type=section&id=Key%20Asset%20and%20Liability%20Items) At period-end, trade receivables increased to HKD 139 million, with over 90% aged over 90 days, and trade payables rose to HKD 24.57 million, with 84.1% aged over 90 days, while financial assets at fair value through profit or loss decreased to HKD 60.72 million, primarily comprising non-performing assets Trade Receivables Ageing Analysis | Ageing | 2025 (HKD '000) | 2024 (HKD '000) | | :--- | :--- | :--- | | 0 to 30 days | 2,556 | 6,375 | | 31 to 60 days | 5,879 | 11,284 | | 61 to 90 days | 4,709 | 3,477 | | Over 90 days | 126,075 | 100,026 | | **Total** | **139,219** | **121,162** | Trade Payables Ageing Analysis | Ageing | 2025 (HKD '000) | 2024 (HKD '000) | | :--- | :--- | :--- | | 0 to 30 days | 895 | 1,951 | | 31 to 60 days | 1,586 | 2,726 | | 61 to 90 days | 1,424 | 453 | | Over 90 days | 20,660 | 16,010 | | **Total** | **24,565** | **21,140** | - Total financial assets at fair value through profit or loss amounted to **HKD 60.72 million**, with **HKD 56.97 million** of this representing non-current non-performing assets[43](index=43&type=chunk) Management Discussion and Analysis [Business Review and Market Outlook](index=19&type=section&id=Business%20Review%20and%20Market%20Outlook) Management noted a challenging operating environment due to weak property markets in China and Hong Kong, leading to decreased construction machinery leasing demand and obsolescence risks for diesel generators, while property management faces pressure from arrears, with the Board maintaining a low-leverage strategy and seeking new opportunities - The market environment is challenging, primarily due to the **prolonged slowdown in the property markets** in China and Hong Kong, leading to **decreased demand for construction machinery leasing**[46](index=46&type=chunk) - The Group faces the risk of **obsolescence for traditional diesel generators** and related equipment as the market shifts towards **power storage solutions**[46](index=46&type=chunk) - The property management business faces difficulties due to a **significant proportion of residential owners defaulting on property management fees**[46](index=46&type=chunk) [Financial Review](index=19&type=section&id=Financial%20Review) Total revenue decreased by 26.1% to HKD 198 million, primarily due to significant reductions in construction machinery leasing, trading, and retail, leading to a 49.1% drop in gross profit to HKD 21 million and a widened net loss of HKD 77.8 million due to increased other losses from equipment impairment and disposal Financial Performance Summary | Indicator | Current Year (HKD Million) | Prior Year (HKD Million) | Change | | :--- | :--- | :--- | :--- | | Revenue | 197.9 | 267.7 | -26.1% | | Gross Profit | 21.0 | 41.3 | -49.1% | | Gross Profit Margin | 10.6% | 15.4% | -4.8pp | | Net Loss | 77.8 | 28.0 | +177.9% | [Revenue and Gross Profit](index=19&type=section&id=Revenue%20and%20Gross%20Profit) Total revenue declined primarily due to contractions in construction machinery leasing (-42.5%), trading (-89.1%), and property leasing/retail (-27.2%), while only property management and money lending grew, resulting in a 49.1% drop in gross profit and a reduced gross profit margin of 10.6% Revenue Change by Business Segment | Business Segment | Current Year Revenue (HKD Million) | Change from Prior Year | | :--- | :--- | :--- | | Construction Machinery Leasing | 48.5 | -42.5% | | Construction Machinery Trading | 2.4 | -89.1% | | Property Leasing, Sub-leasing and Retail | 57.4 | -27.2% | | Property Management Services | 84.7 | +8.1% | | Money Lending Business | 4.9 | +28.9% | - The Group's gross profit decreased by **49.1%** from **HKD 41.3 million** to **HKD 21.0 million**, with the gross profit margin declining from **15.4%** to **10.6%**[54](index=54&type=chunk) [Operating Expenses and Loss](index=20&type=section&id=Operating%20Expenses%20and%20Loss) Sales and service costs decreased by 21.9% with revenue, but other losses surged from HKD 13.7 million to HKD 43.3 million due to impairment and disposal losses on property, plant, and equipment, while administrative expenses rose by 15.6%, collectively leading to a significantly widened net loss - Other losses increased from **HKD 13.7 million** to **HKD 43.3 million**, primarily due to **impairment of property, plant, and equipment** and **loss on disposal of obsolete equipment**[55](index=55&type=chunk) - Administrative expenses increased by **15.6%** from **HKD 38.6 million** to **HKD 44.6 million**, mainly due to **higher non-sales staff costs and depreciation costs**[57](index=57&type=chunk) - Net loss increased from **HKD 28.0 million** in the prior year to **HKD 77.8 million** in the current year[62](index=62&type=chunk) [Liquidity and Financial Resources](index=22&type=section&id=Liquidity%20and%20Financial%20Resources) At period-end, the Group held HKD 28.9 million in cash and bank balances, with total borrowings and lease liabilities of HKD 17.9 million, indicating a net cash position and improved liquidity with a current ratio rising from 2.1x to 2.7x; capital expenditure for the year was HKD 43.1 million, primarily for asset acquisition in leasing and property renovation in retail Liquidity Indicators | Indicator | As of March 31, 2025 | As of March 31, 2024 | | :--- | :--- | :--- | | Cash and Bank Balances | HKD 28.9 Million | HKD 34.3 Million | | Borrowings | HKD 2.7 Million | HKD 10.2 Million | | Lease Liabilities | HKD 15.2 Million | HKD 22.7 Million | | Status | Net Cash Position | Net Cash Position | | Current Ratio | 2.7x | 2.1x | - Total capital expenditure for the year was approximately **HKD 43.1 million** (prior year: HKD 67.5 million), primarily for the **acquisition of property, plant, and equipment for the leasing business** and **property renovation for the retail business**[67](index=67&type=chunk) - The Group considers its exposure to **USD foreign exchange risk to be minimal**, with no significant foreign exchange risk and no foreign currency hedging policy adopted[68](index=68&type=chunk) [Other Significant Matters](index=23&type=section&id=Other%20Significant%20Matters) In response to business contraction, the Group significantly reduced its workforce from 706 to 395 employees, lowering staff costs from HKD 57.1 million to HKD 52.4 million; aside from a RMB 65 million investment to acquire an RMB 80 million secured loan, there were no other significant investments, acquisitions, or disposals during or after the reporting period - As of March 31, 2025, the Group's headcount significantly decreased to **395 employees** from **706** in the prior year, with total staff costs reducing from **HKD 57.1 million** to **HKD 52.4 million**[71](index=71&type=chunk) - During the year, the Group made a significant investment, acquiring a secured loan with a principal of **RMB 80 million** for a cash consideration of **RMB 65 million**[72](index=72&type=chunk) - There were **no significant acquisitions or disposals** of subsidiaries, associates, or joint ventures during the year, and **no material events affecting the Group** occurred from the end of the reporting period up to the announcement date[73](index=73&type=chunk)[75](index=75&type=chunk) Other Information [Dividend Policy](index=25&type=section&id=Dividend%20Policy) Given the current year's loss, the Board did not recommend any dividend payment for the year ended March 31, 2025, consistent with the prior year - The Directors did not recommend the payment of any dividend for the year ended March 31, 2025 (2024: nil)[35](index=35&type=chunk)[83](index=83&type=chunk) [Corporate Governance](index=25&type=section&id=Corporate%20Governance) The company is committed to maintaining high corporate governance standards, having complied with applicable code provisions of the Listing Rules during the reporting period, and its audit committee has reviewed the annual results for the year - The Company has **complied with the applicable code provisions** of the Corporate Governance Code during the current year[78](index=78&type=chunk) - The Company's Audit Committee has **reviewed the Group's annual results** for the current year[82](index=82&type=chunk)

Company Overview - Zhaobangji Life Holdings Limited is listed on the Hong Kong Stock Exchange and primarily engages in machinery and parts trading, machinery leasing, and related services in Hong Kong, as well as property management, machinery leasing, property leasing, subleasing, and retail business in mainland China [2]. Financial Performance - As of September 30, 2024, Zhaobangji Life reported total revenue of 99.9463 million yuan, a year-on-year decrease of 27.54% [1]. - The company recorded a net profit attributable to shareholders of -6.6435 million yuan, representing a year-on-year decline of 229.43% [1]. - The gross profit margin stood at 25.13%, while the debt-to-asset ratio was 24.97% [1]. Stock Performance - On June 6, the Hang Seng Index fell by 0.48%, closing at 23,792.54 points [1]. - Zhaobangji Life's stock price closed at 0.193 HKD per share, marking an increase of 27.81% with a trading volume of 19.024 million shares and a turnover of 3.3331 million HKD, showing a volatility of 49.67% [1]. - Over the past month, the stock has seen a cumulative increase of 15.27%, while year-to-date, it has risen by 7.86%, underperforming the Hang Seng Index by 19.18% [1]. Valuation Metrics - The average price-to-earnings (P/E) ratio for the industrial engineering sector (TTM) is 14.42 times, with a median of 2.5 times [1]. - Zhaobangji Life's P/E ratio is -22.76 times, ranking 121st in the industry [1]. - Comparatively, other companies in the sector have P/E ratios of 0.31 times for Yili Holdings, 0.32 times for China Aerospace Wanyuan, 1.89 times for Tianjie Environment, 2.23 times for Beijing Enterprises Environment Group, and 2.5 times for Tongjing New Energy [1].

Staff and Employee Costs - The Group's total staff as of September 30, 2024, was 408, down from 507 in the previous year, indicating a reduction of approximately 19.6%[17] - Total staff costs for the Period were approximately HK$31.7 million, an increase of about 13.6% compared to approximately HK$27.9 million in the previous Period[17] - The Group had 408 employees as of September 30, 2024, down from 507 employees as of September 30, 2023[38] - Total employee costs for the period were approximately HK$31.7 million, compared to approximately HK$27.9 million in the previous period[38] Financial Performance - The Company did not recommend the payment of any interim dividend to shareholders for the Period[20] - The Board did not recommend the payment of an interim dividend for the period[39] - The Group reported a net loss of approximately HK$7.4 million for the Period, compared to a net profit of HK$5.7 million in the Previous Period, with the net profit margin not applicable for the Period[52] - The company reported a loss for the period of HK$7,367, compared to a profit of HK$5,692 in the same period last year[88] - Profit attributable to equity holders for the six months ended September 30, 2024, was a loss of HK$7,367,000 compared to a profit of HK$5,692,000 in 2023, representing a significant decline[119] Revenue and Segment Performance - Revenue from construction machinery trading decreased by approximately HK$12.8 million, or approximately 81.7%, from approximately HK$15.7 million in the previous period to approximately HK$2.9 million for the period[48] - Revenue from property management services increased by approximately HK$15.9 million, or approximately 55.3%, from approximately HK$28.7 million in the previous period to approximately HK$44.6 million for the period[48] - Revenue from property leasing, subletting, retail, and other businesses decreased by approximately HK$29.8 million, or approximately 48.7%, from approximately HK$61.2 million in the previous period to approximately HK$31.4 million for the period[48] - Revenue for the six months ended September 30, 2024, was HK$110,831,000, down 27.5% from HK$152,965,000 in 2023[129] - Revenue from leasing machinery and related services decreased to HK$30,185,000, a decline of 33.9% from HK$45,602,000 in the previous year[129] - Property management services revenue increased to HK$44,611,000, up 55.2% from HK$28,724,000 in 2023[129] - Money lending revenue decreased to HK$31,418,000, down 48.5% from HK$61,209,000 in 2023[129] Costs and Expenses - Cost of sales and services amounted to approximately HK$83.0 million for the period, representing a decrease of approximately 33.9% from approximately HK$125.6 million in the previous period[48] - The decrease in cost of sales and services was generally in line with the decline in revenue[48] - Administrative expenses increased by approximately HK$13.7 million, or 67.1%, from HK$20.4 million in the Previous Period to HK$34.1 million, largely due to the reclassification of staff salary expenses[50] - Total cost of sales and services and administrative expenses decreased from HK$146.0 million to HK$117.0 million, a reduction of approximately 19.9%[168] Assets and Liabilities - As of September 30, 2024, the Group had cash and cash equivalents of approximately HK$44.4 million, an increase from approximately HK$34.3 million as of March 31, 2024[52] - The Group's total current assets and current liabilities were approximately HK$226.4 million and HK$111.8 million, respectively, resulting in a current ratio of approximately 2.0 times[52] - Total liabilities increased to HK$131,190,000 as of September 30, 2024, compared to HK$117,677,000 as of March 31, 2024[68] - Trade receivables increased from HK$121.2 million to HK$164.7 million, indicating a rise of approximately 36.0%[177] - Trade payables rose significantly to HK$47,503,000 as of September 30, 2024, from HK$21,140,000 as of March 31, 2024, marking an increase of 124%[194] Corporate Governance and Compliance - The Company has fully complied with the Corporate Governance Code during the Period[1] - The Audit Committee reviewed the unaudited interim condensed consolidated financial statements for the Period[6] - The Company has adopted the Model Code for Securities Transactions by Directors and confirmed compliance by all Directors during the Period[5] - The interim financial statements have been prepared in accordance with Hong Kong Accounting Standard 34, ensuring compliance with local regulations[79] Future Outlook and Strategy - The Group plans to maintain low leverage to navigate challenging market conditions, with a focus on the long-term prospects of the Greater Bay Area[165] - The company is focusing on a conservative approach in acquiring new business opportunities[163] - Future outlook includes potential market expansion and new product development strategies[164]

Financial Performance - For the six months ended September 30, 2024, the company reported revenue of HKD 110,831 thousand, a decrease of 27.5% compared to HKD 152,965 thousand in the same period of 2023[2] - The gross profit for the period was HKD 27,849 thousand, slightly up from HKD 27,350 thousand year-on-year, indicating a gross margin improvement[2] - The operating loss for the period was HKD 9,671 thousand, compared to an operating profit of HKD 9,486 thousand in the previous year, reflecting a significant decline in operational performance[2] - The net loss attributable to equity holders for the period was HKD 7,367 thousand, compared to a profit of HKD 5,692 thousand in the same period last year[2] - The group reported a loss before tax of HKD 9,053 thousand for the six months ended September 30, 2024, compared to a profit before tax of HKD 9,082 thousand for the same period in 2023[26][30] - Basic loss per share for the six months ended September 30, 2024, was HKD (0.12), compared to a profit of HKD 0.09 for the same period in 2023[36] - The group reported a net loss of HKD 7.4 million for the period, compared to a net profit of HKD 5.7 million in the previous period[62] Revenue Breakdown - Revenue from machinery leasing and related services was HKD 30,185 thousand, down 33.8% from HKD 45,602 thousand year-on-year[23] - Property management services revenue increased to HKD 44,611 thousand, up 55.3% from HKD 28,724 thousand in the previous year[23] - Revenue from construction machinery leasing decreased by approximately HKD 15.4 million or 33.8% to about HKD 30.2 million due to a weaker real estate market in Hong Kong and China[46] - Revenue from construction machinery trading decreased by approximately HKD 12.8 million or 81.7% to about HKD 2.9 million, attributed to reduced demand for new construction machinery[48] - Revenue from property management services increased by approximately HKD 15.9 million or 55.3% to about HKD 44.6 million, driven by the completion of several development projects[49] Assets and Liabilities - Total assets as of September 30, 2024, amounted to HKD 525,480 thousand, an increase from HKD 516,362 thousand as of March 31, 2024[4] - The company's total liabilities increased to HKD 131,191 thousand from HKD 117,677 thousand, indicating a rise in financial obligations[10] - The net asset value decreased to HKD 394,289 thousand from HKD 398,685 thousand, reflecting a decline in shareholder equity[11] - Cash and cash equivalents increased to HKD 44,402 thousand from HKD 34,278 thousand, showing improved liquidity[4] - Trade receivables as of September 30, 2024, amounted to HKD 164.736 million, with a significant portion (approximately 89%) overdue by more than 90 days[41] - Trade payables as of September 30, 2024, totaled HKD 47.503 million, with 90 days overdue payables accounting for approximately 87%[42] - The total current assets and current liabilities as of September 30, 2024, were approximately HKD 226.4 million and HKD 111.8 million, respectively, resulting in a current ratio of about 2.0 times[64] Expenses and Cost Management - Total expenses for the six months ended September 30, 2024, were HKD 117,047 thousand, a decrease of 19.9% from HKD 146,025 thousand in the previous year[32] - Administrative expenses increased by approximately HKD 13.7 million or 67.1% to about HKD 34.1 million, primarily due to departmental restructuring[57] - The total employee cost for the period was approximately HKD 31.7 million, up from HKD 27.9 million in the previous period, with a workforce reduction to 408 employees from 507[73] Dividends and Capital Expenditures - The group did not recommend any interim dividend for the six months ended September 30, 2024[34] - The group reported zero capital expenditures during the period, maintaining a conservative investment approach due to challenging market conditions[67] - The group had zero capital commitments for machinery and equipment as of September 30, 2024, down from HKD 5.8 million as of March 31, 2024[71] Business Segments - The company is engaged in various business segments including machinery trading, leasing, and property management services in Hong Kong and mainland China[16] - The group’s operating segments include leasing, trading, property management, property leasing, and lending services[24] - The group’s performance in the leasing segment showed a loss of HKD 3,881 thousand for the period, compared to a profit of HKD 19,028 thousand in the previous year[26] Financial Reporting and Risks - The group applied revised Hong Kong Financial Reporting Standards, which did not have a significant impact on the financial position and performance for the current and prior periods[22] - The group faced foreign exchange risks due to transactions in currencies other than its functional currency, primarily monitoring currency fluctuations[69] - The group plans to continue using low leverage to navigate challenging market conditions influenced by high interest rates and geopolitical tensions[44] Share Capital - The total issued share capital as of September 30, 2024, was approximately HKD 12.4 million, equivalent to 6,195,000,000 shares[66] - There were no major investments, acquisitions, or disposals of subsidiaries or joint ventures during the period[75] - The group had no significant contingent liabilities as of the reporting date, consistent with the previous period[70]

Revenue Growth - The company reported a significant increase in revenue, achieving a total of $500 million for the fiscal year, representing a 20% growth compared to the previous year[4]. - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 25%[4]. - New product launches are expected to contribute an additional $100 million in revenue, with a focus on innovative technology solutions[4]. - Total revenue increased by approximately HK$9.3 million, or 3.6%, from approximately HK$258.4 million for the year ended 31 March 2023 to approximately HK$267.7 million for the Year[43]. - Revenue from property leasing, sub-letting, retail, and others segment increased from HK$43.7 million to HK$78.8 million due to the opening of the border and ending of COVID social distancing restrictions[43]. - Revenue from self-operated retail arcades surged from approximately HK$43.7 million to approximately HK$78.8 million, marking an increase of approximately HK$35.1 million or 80.4% due to the opening of borders and the end of COVID-19 social distancing measures[73]. - Revenue from money lending increased by approximately HK$3.5 million, or approximately 1167%, from HK$0.3 million to HK$3.8 million, mainly due to the full year effect of loans extended in early 2023[76]. - The company reported a significant increase in revenue, achieving a total of $500 million for the fiscal year, representing a 25% year-over-year growth[122]. - Revenue from property leasing, subletting services, and retail businesses increased by approximately HK$35.1 million, or approximately 80.4%, from approximately HK$43.7 million to approximately HK$78.8 million, attributed to the reopening of borders and the end of COVID restrictions[82]. User Growth - User data showed a 15% increase in active users, reaching 2 million by the end of the fiscal year[4]. - User data showed a 30% increase in active users, reaching 1.5 million by the end of the year[122]. Market Expansion - The company is expanding its market presence in Southeast Asia, targeting a 30% market share within the next two years[4]. - The company is expanding its market presence in Southeast Asia, targeting a 15% market share within the next two years[122]. Strategic Initiatives - A strategic acquisition of a local competitor is anticipated to enhance the company's product offerings and customer base[4]. - A strategic acquisition of a local competitor is anticipated to enhance operational capabilities and increase market penetration[122]. - The company has invested $10 million in research and development for new technologies aimed at improving user experience[4]. - Research and development expenses increased by 10%, totaling $40 million, to support new technology initiatives[122]. Corporate Governance - The board has adopted a diversity policy to enhance performance, considering various factors such as age and professional experience[6]. - The company has complied with all relevant listing rules regarding board composition and independence[21]. - Continuous professional development programs for directors are being implemented to ensure compliance with the latest regulations[10]. - The board emphasized the importance of corporate governance and compliance in driving sustainable growth[122]. - The company has adopted the Corporate Governance Code and has complied with applicable code provisions for the year, ensuring high standards of corporate governance[134]. - The Board is responsible for the overall leadership of the Group and has established four committees to oversee specific aspects of the company's affairs[136]. - The company maintains a high level of accountability and transparency in its operations, as evidenced by the detailed recording of Board meeting minutes[150]. - The company is committed to enhancing corporate value and safeguarding shareholder interests through effective governance practices[135]. Financial Performance - Gross profit increased by approximately HK$8.6 million, or approximately 26.1%, from approximately HK$32.8 million to approximately HK$41.3 million, with gross profit margin rising from approximately 12.7% to approximately 15.4%[76]. - Expected credit losses on financial assets increased by approximately HK$5.2 million, or approximately 42.3%, from approximately HK$12.3 million to approximately HK$17.5 million, primarily due to a larger amount of longer aged receivables[76]. - The Group's net loss reduced by approximately HK$13.0 million from approximately HK$41.0 million in the previous year to approximately HK$28.0 million this year[86]. - As of March 31, 2024, the Group had cash and bank balances of approximately HK$34.3 million, down from approximately HK$43.2 million in 2023, with borrowings of approximately HK$10.2 million and lease liabilities of approximately HK$22.7 million[88]. - The Group's current ratio was approximately 2.1 times as of March 31, 2024, compared to 2.4 times in 2023[88]. - The total current assets and current liabilities were approximately HK$207.4 million and approximately HK$100.5 million, respectively, as of March 31, 2024[88]. - The total capital expenditure for the year was approximately HK$41.1 million, a decrease from approximately HK$56.9 million in 2023[98]. Cost Management - The company plans to implement cost-saving measures aimed at reducing operational expenses by 5% in the upcoming year[122]. - Total staff costs incurred were approximately HK$57.1 million, an increase from approximately HK$46.0 million, primarily due to higher headcount[81]. - Selling expenses decreased by approximately HK$2.9 million, or approximately 99.2%, from approximately HK$2.9 million for the previous year to less than HK$0.1 million for the year, mainly due to a decrease in staff costs in the selling department[86]. - Administrative expenses decreased by approximately HK$22.1 million, or 36.4%, from approximately HK$60.7 million for the previous year to approximately HK$38.6 million for the year, primarily due to a reduction in depreciation of property, plant, and equipment[86]. - Finance income decreased by approximately HK$2.5 million, or approximately 56.2%, from approximately HK$4.5 million for the previous year to approximately HK$2.0 million for the year, attributed to a decline in the average balance of cash[86]. - Finance costs decreased by approximately HK$0.3 million, or approximately 14.8%, from approximately HK$2.0 million for the previous year to approximately HK$1.7 million for the year, mainly due to a reduction in borrowing[86]. Shareholder Information - The company has a significant ownership structure, with Mr. Xu Chujia holding 58.53% of Boardwin Resources Limited, which in turn owns approximately 61.41% of the company's issued share capital[123]. - As of March 31, 2024, the total issued share capital of the Company was HK$12,390,000, divided into 6,195,000,000 ordinary shares at HK$0.002 each[98]. - The company’s share option scheme allows for a maximum of 30% of the shares in issue to be issued upon exercise of all outstanding options, which must not exceed 600,000,000 shares[184]. - The maximum number of shares subject to options under the scheme must not exceed 30% of the shares in issue at any time[183]. - The company may seek separate Shareholders' approval for granting options beyond the Scheme Mandate Limit to specifically identified Participants[194]. Property Management - The renewed property management framework agreement commenced on April 1, 2021, and is set to expire on March 31, 2024, continuing the property management services previously provided[187]. - The property management services include daily management, cleaning, repair of public areas, security services, and guest reception[191]. - The individual property management agreements will be consistent with the terms of the Renewed Property Management Framework Agreement[190].

Financial Performance - Revenue for the year ended March 31, 2024, was HKD 267,691,000, an increase of 3.2% compared to HKD 258,353,000 for the previous year[3] - Gross profit for the year was HKD 41,313,000, up 26.2% from HKD 32,750,000 in the previous year[3] - The net loss for the year was HKD 28,034,000, a decrease of 31.5% compared to a net loss of HKD 40,985,000 in the previous year[5] - Total comprehensive loss for the year attributable to owners of the company was HKD 35,741,000, down from HKD 53,502,000 in the previous year[5] - The basic and diluted loss per share for the year was HKD 0.45, compared to HKD 0.66 in the previous year[5] - The group reported a pre-tax loss of HKD 28,183 thousand for the year, an improvement from a loss of HKD 35,446 thousand in the previous year[66] - The group's net loss decreased by approximately HKD 13.0 million, from a loss of about HKD 41.0 million in the previous year to a loss of about HKD 28.0 million this year[127] Revenue Breakdown - Revenue from sales of machinery and spare parts, along with related services, increased to HKD 22,401 thousand in 2024 from HKD 12,814 thousand in 2023, representing a growth of 74.5%[37] - Property management services generated revenue of HKD 78,369 thousand in 2024, down from HKD 81,920 thousand in 2023, reflecting a decrease of 4.1%[37] - Revenue from property leasing, subleasing, retail, and others rose significantly to HKD 71,132 thousand in 2024, compared to HKD 37,371 thousand in 2023, marking an increase of 90.2%[37] - Revenue from external customers in Hong Kong for 2024 was HKD 22,401 thousand, up from HKD 12,814 thousand in 2023, marking an increase of approximately 75%[61] - Revenue from external customers in China (excluding Hong Kong) was HKD 78,369 thousand in 2024, slightly down from HKD 81,920 thousand in 2023, a decrease of about 4.2%[61] - The total revenue from leasing machinery and related services in Hong Kong for 2024 was HKD 75,232 thousand, down from HKD 101,606 thousand in 2023, a decline of approximately 26%[61] - The company’s total revenue from property management services in 2024 was HKD 78,662 thousand, compared to HKD 101,890 thousand in 2023, reflecting a decrease of about 22.7%[61] - Revenue from property leasing, subleasing, and retail services rose from HKD 43.3 million to HKD 78.8 million, driven by the reopening of borders and the end of pandemic social distancing measures[103] - Revenue from construction machinery trade increased by approximately HKD 9.6 million or 74.8% to about HKD 22.4 million, attributed to favorable market opportunities[105] Assets and Liabilities - The company's total assets decreased to HKD 415,909,000 from HKD 460,608,000 in the previous year[13] - Non-current assets, including property, plant, and equipment, decreased to HKD 135,435,000 from HKD 150,577,000[8] - Current liabilities increased to HKD 100,453,000 from HKD 97,358,000 in the previous year[11] - The company's cash and cash equivalents decreased to HKD 34,278,000 from HKD 43,245,000[8] - The group’s lease liabilities decreased to HKD 1,921 million in 2024 from HKD 2,599 million in 2023, a reduction of 26.1%[25] - Deferred tax liabilities decreased to HKD 12,596 million in 2024 from HKD 13,876 million in 2023, a decline of 9.2%[25] - The group's borrowings amounted to HKD 10.1 million, a decrease from HKD 26.0 million in 2023, while lease liabilities were HKD 22.7 million, down from HKD 25.0 million[129] Accounting and Compliance - The group has adopted new accounting standards effective from April 1, 2023, which may impact future financial reporting[29] - The group has reviewed and aligned its accounting policies with the recent amendments to the Hong Kong Financial Reporting Standards, ensuring compliance and accuracy in financial reporting[31] - The group expects the application of new and revised Hong Kong Financial Reporting Standards will not have a significant impact on the consolidated financial statements in the foreseeable future[41] - The group’s total liabilities classification changes will be adopted from the effective date of the announcement, indicating a strategic shift in financial reporting[41] Operational Changes - The company continues to engage in machinery and parts trading, machinery leasing, and related services, as well as property management services in China[21] - The group has six reportable segments in 2023, up from five in the previous year, indicating potential market expansion[38] - The company expanded its lending business, which has been reported as a separate segment, reflecting a strategic shift in resource allocation and future business development[63] - The group has capital commitments of approximately HKD 5.8 million for machinery and equipment as of March 31, 2024, compared to HKD 5.3 million in 2023[149] Shareholder Information - The group reported a loss for the year, with no dividends proposed for the fiscal year ending March 31, 2024[91] - The company will not recommend a final dividend for the year 2023[158] - The annual general meeting is scheduled for August 15, 2024, with a share registration suspension from August 12 to August 15, 2024[158] - Shareholders must submit their share registration forms by 4:30 PM on August 9, 2024, to be eligible to vote at the annual general meeting[158] - The annual performance announcement is available on the company's website and the Hong Kong Stock Exchange website[159]