Financial Performance - Revenue for the six months ended 30 September 2023 was HK$152,965,000, an increase of 18.8% compared to HK$128,790,000 in the same period of 2022[29]. - Gross profit for the period was HK$27,350,000, representing a gross margin of 17.9%, up from HK$17,182,000 in the previous year[29]. - Profit for the period attributable to equity holders was HK$5,692,000, compared to a loss of HK$29,446,000 in the same period last year[29]. - Total comprehensive loss for the period was HK$1,490,000, significantly improved from a loss of HK$29,332,000 in the prior year[30]. - Basic and diluted earnings per share for the period was HK$0.09, compared to a loss per share of HK$0.47 in the previous year[30]. - The Group's profit before tax for the period was HK$9,082,000, after accounting for unallocated corporate expenses of HK$12,991,000[76]. - Segment profit from leasing was HK$19,028,000, while property management reported a loss of HK$5,705,000, resulting in a total segment profit of HK$22,073,000[76]. - The Group's financial performance indicates a positive trend in receivables, suggesting potential growth in revenue generation[188]. Revenue Breakdown - For the six months ended September 30, 2023, total revenue was HK$75,004,000, with leasing contributing HK$45,602,000 and property management generating HK$28,724,000[76]. - Revenue from construction machinery trading increased by approximately HK$10.1 million or 280.4% to about HK$15.7 million for the period[2]. - Revenue from leasing of machinery and related services decreased to HK$45,602,000, down 25.9% from HK$61,417,000 year-over-year[87]. - Sales of machinery and spare parts increased significantly to HK$15,706,000, up 180.5% from HK$5,592,000 in the previous year[87]. - Property management services revenue was HK$28,724,000, a decrease of 16.1% from HK$34,285,000 in the prior period[87]. Expenses and Costs - Administrative expenses decreased to HK$20,385,000 from HK$39,525,000, reflecting a reduction of 48.3%[29]. - Total cost of sales and services, selling and administrative expenses amounted to HK$146,025,000, down from HK$154,309,000 in the prior year, reflecting a decrease of approximately 5.4%[117]. - The cost of machinery and equipment and spare parts sold increased to HK$20,120,000 from HK$14,274,000, representing a rise of approximately 40.5%[117]. - Staff costs, including directors' emoluments, decreased to HK$27,918,000 from HK$30,920,000, a reduction of about 9.7%[117]. - The depreciation expense for the period was HK$18,857,000, down from HK$52,415,000, reflecting a decrease of approximately 64.0%[117]. Assets and Liabilities - Total equity as of September 30, 2023, was HK$432.933 million, a slight decrease from HK$434.423 million as of March 31, 2023[22]. - Total liabilities decreased from HK$123.543 million as of March 31, 2023, to HK$112.302 million as of September 30, 2023[22]. - Current liabilities totaled HK$98.454 million as of September 30, 2023, compared to HK$97.358 million as of March 31, 2023[22]. - The ageing analysis of trade receivables shows that amounts overdue for more than 90 days increased significantly to HK$102,132,000 from HK$54,927,000, indicating a rise of approximately 85.7%[154]. - Total trade receivables as of September 30, 2023, amounted to HK$155,645,000, up from HK$128,117,000 as of March 31, 2023, representing an increase of about 22.5%[154]. Corporate Governance - The company maintained compliance with the Corporate Governance Code during the reporting period[8]. - The company has established an Audit Committee to ensure compliance with the Listing Rules and Corporate Governance Code[10]. - The company has not granted any share options under the Share Option Scheme since its adoption in January 2017[26]. Regulatory Compliance - The interim condensed consolidated financial information for the six months ended 30 September 2023 has been prepared in accordance with Hong Kong Accounting Standard 34, indicating compliance with interim financial reporting standards[43]. - The Group's financial reporting practices are aligned with the latest updates to Hong Kong Financial Reporting Standards, ensuring compliance and transparency[48]. - The Group's directors do not expect any material impact from the adoption of the new or amended HKFRSs on the consolidated financial statements, suggesting stability in financial reporting[58]. Company Changes - The company changed its name from Zhaobangji Properties Holdings Limited to Zhaobangji Lifestyle Holdings Limited effective October 26, 2023[5]. - The Company did not recommend the payment of any interim dividend for the six months ended September 30, 2023[130]. Future Outlook - Future outlook remains optimistic with ongoing evaluations of market conditions and potential expansions in operations[195].

Financial Position - As of September 30, 2023, the company's cash and cash equivalents amounted to approximately HKD 45.9 million, an increase from HKD 43.2 million as of March 31, 2023[1] - The company's borrowings and lease liabilities as of September 30, 2023, were approximately HKD 22.5 million, down from HKD 26.0 million as of March 31, 2023[1] - The company's total liabilities as of September 30, 2023, were HKD 112.3 million, a decrease from HKD 123.5 million as of March 31, 2023[18] - The company's total equity and liabilities amounted to HKD 545.2 million as of September 30, 2023, compared to HKD 557.9 million as of March 31, 2023[18] - Total assets as of September 30, 2023, amounted to HKD 545,236,000, a decrease of 2.6% from HKD 557,966,000 as of March 31, 2023[47] - Non-current assets, including property, plant, and equipment, decreased to HKD 116,750,000 from HKD 150,577,000, representing a decline of 22.5%[47] - Current assets increased to HKD 280,221,000 from HKD 232,265,000, reflecting a growth of 20.7%[47] - Total equity attributable to owners of the company was HKD 432,933,000, slightly down from HKD 434,423,000, a decrease of 0.3%[47] - Current assets and current liabilities as of September 30, 2023, were approximately HKD 280.2 million and HKD 98.5 million, respectively, with a current ratio increasing to approximately 2.8 times[156] Revenue and Profitability - The company's revenue for the six months ended September 30, 2023, was HKD 152,965 thousand, an increase of 18.8% compared to HKD 128,790 thousand in the same period of 2022[44] - Revenue from leasing machinery and related services decreased to HKD 45,602 thousand from HKD 61,417 thousand, representing a decline of 25.8%[44] - Revenue from sales of machinery and spare parts increased significantly to HKD 15,706 thousand from HKD 5,592 thousand, marking a growth of 180.5%[44] - Property management services revenue decreased to HKD 28,724 thousand from HKD 34,285 thousand, a decline of 16.4%[44] - The company reported a net profit of HKD 5,692 thousand for the period, a significant recovery from a loss of HKD 29,446 thousand in the previous year[46] - Basic and diluted earnings per share for the current period were HKD 0.09, compared to a loss per share of HKD 0.47 in the previous year[46] - The company's operating profit for the period was HKD 9,486 thousand, a turnaround from an operating loss of HKD 23,170 thousand in the previous year[46] - Total comprehensive income for the period was HKD (1,490) thousand, compared to a loss of HKD 29,332 thousand in the previous year[46] - Gross profit for the period was HKD 27.4 million, up from HKD 17.2 million in the previous period, with a gross profit margin increasing from approximately 13.3% to 17.9%[142] - The net profit for the period was HKD 5.7 million, resulting in a net profit margin of 3.7%[146] Expenses and Costs - The total employee cost for the period was approximately HKD 27.9 million, down from HKD 30.9 million in the previous period, with the number of employees increasing to 507 from 498[6] - Rental costs and administrative expenses rose to HKD 38,118,000 from HKD 25,478,000, marking an increase of about 49.5%[101] - The cost of sales for machinery, equipment, and spare parts increased to HKD 20,120,000 from HKD 14,274,000, representing a growth of approximately 41.5%[101] - The total sales and service costs, along with selling and administrative expenses, amounted to HKD 146,025,000, down from HKD 154,309,000, reflecting a decrease of about 5.4%[101] - The company incurred a tax expense of HKD 3,389,000 for the six months ended September 30, 2023, down from HKD 6,191,000 in the previous year[77] Investments and Commitments - The company had no significant investments, acquisitions, or disposals of subsidiaries during the period[7] - There were no capital commitments for machinery and equipment as of September 30, 2023, down from HKD 1.3 million as of March 31, 2023[5] Accounting and Compliance - The company expects that the newly issued Hong Kong Financial Reporting Standards will not have a significant impact on its financial statements[36] - The company anticipates that the adoption of the new accounting standards will begin on January 1, 2024, and can be applied early without significant effects on financial performance[36] - The company has not adopted new accounting standards that have been issued but not yet effective, indicating a cautious approach to financial reporting[58] - The interim condensed consolidated financial information is prepared in accordance with Hong Kong Accounting Standard 34, ensuring compliance with local regulations[49] Market and Operational Insights - The management anticipates continued positive long-term prospects for the Greater Bay Area driven by strong demand and supportive government policies[110] - Revenue from property management services decreased by HKD 5,600,000 or 16.2% to HKD 28,700,000 due to management fee discounts offered to tenants[113] - Revenue from property leasing, subleasing, retail, and other businesses increased by HKD 35,400,000 or 129% to HKD 62,900,000, primarily driven by post-pandemic business recovery in the indoor amusement park retail sector[114] - Revenue from construction machinery leasing decreased by approximately HKD 15.8 million or 25.7% to about HKD 45.6 million due to stagnation in the Hong Kong and China real estate markets[139] - Revenue from construction machinery trading increased by approximately HKD 10.1 million or 280.4% to about HKD 15.7 million, driven by increased demand for trailers, foundation, and drilling accessories[140]

Financial Performance - The Group incurred a net loss of HK$41.0 million during the Year, compared to a net profit of HK$38.0 million in the Previous Year, primarily due to a challenging business environment[19] - Total revenue decreased by approximately HK$13.6 million, or 5.0%, from approximately HK$272.0 million for the year ended 31 March 2022 to approximately HK$258.4 million for the year ended 31 March 2023[33] - The decrease in revenue was mainly due to reduced leasing income from construction machinery and property management fee concessions during the COVID-19 pandemic[33] - Gross profit decreased by approximately HK$71.3 million, or approximately 68.5%, from HK$104.1 million to HK$32.8 million, with gross profit margin decreasing from approximately 38.3% to approximately 12.7% due to a challenging business environment[37] - The Group's income tax expense decreased by approximately HK$17.2 million, or 75.8%, from approximately HK$22.7 million in the Previous Year to approximately HK$5.5 million for the Year, mainly due to larger losses from business units[19] Revenue Breakdown - Revenue from construction machinery leasing decreased by approximately HK$21.8 million, or approximately 15.7%, from HK$138.6 million to HK$116.8 million due to adverse market conditions in Hong Kong and Mainland China[35] - Revenue from trading of construction machinery decreased by approximately HK$18.8 million, or approximately 59.5%, from HK$31.6 million to HK$12.8 million, primarily due to decreased trading demand in the Hong Kong market[35] - Revenue from transportation services decreased by approximately HK$3.4 million, or approximately 54.8%, from HK$6.2 million to HK$2.8 million, as the company plans to reduce exposure in this sector due to anticipated market decline[35] - Revenue from property management services decreased by approximately HK$6.6 million, or approximately 7.5%, from HK$88.5 million to HK$81.9 million, mainly due to management fee concessions during the COVID-19 pandemic[35] - Revenue from property leasing, subletting services, and retail businesses increased by approximately HK$37.1 million from HK$0.3 million to HK$37.4 million, primarily due to the integration of retail operations in Mainland China[35] Expenses and Costs - Administrative expenses increased by approximately HK$23.5 million, or 63.2%, from approximately HK$37.2 million in the Previous Year to approximately HK$60.7 million for the Year[19] - Cost of sales and services increased by approximately HK$57.7 million, or approximately 34.4%, from HK$167.9 million to HK$225.6 million, mainly due to increased depreciation on traditional diesel generators[37] - Selling expenses decreased by approximately HK$1.2 million, or approximately 29.3%, from HK$4.1 million to HK$2.9 million, primarily due to a decrease in staff costs in the selling department[37] Financial Position - As of March 31, 2023, the Group had cash and bank balances of approximately HK$43.2 million, a decrease from HK$44.8 million in 2022, with borrowings of approximately HK$26.0 million and lease liabilities of approximately HK$25.0 million[62] - The Group's current assets and current liabilities were approximately HK$232.3 million and HK$97.4 million respectively, resulting in a current ratio of approximately 2.4 times as of March 31, 2023, down from 4.8 times in 2022[62] - The Group's net debt position as of March 31, 2023, was 1.8%, compared to a net cash position in 2022[62] - The fair value of the Secured Loan as of March 31, 2023, was HK$85,680,000, representing 15.4% of the Group's total assets, with an unrealized fair value gain of HK$11,319,000 recognized during the year[73] Strategic Outlook - The Group expects a positive rebound from the removal of COVID-19 related restrictions, but remains cautiously optimistic due to geopolitical tensions and a prolonged high interest rate environment[32] - The Board remains vigilant regarding market conditions in the year ahead, particularly in light of high interest rates and deleveraging trends among real estate developers in Mainland China[33] - The Group's defensive strategy has included maintaining a low-leverage position amidst challenging market conditions[32] - The overall macro environment is still challenging, but the Board is cautiously optimistic about future growth[33] Corporate Governance - The Company has complied with code provision C.2.1 of the CG Code, ensuring that the roles of chairman and chief executive are separate[98] - The Company has adopted the Model Code for Securities Transactions by Directors, ensuring compliance with securities transaction standards[103] - The Board has established four committees: Audit Committee, Nomination Committee, Remuneration Committee, and Investment Committee to oversee specific areas[111] - All independent non-executive Directors have confirmed their independence, aligning with rule 3.13 of the Listing Rules[114] - The Company believes that board diversity enhances performance and has adopted a policy to ensure diverse board composition[116] Risk Management - The Company has established formal risk assessment criteria, with senior management identifying and ranking risks annually based on their impact and likelihood[178] - The Audit Committee reviews the effectiveness of the Group's risk management and internal control systems on an annual basis[177] - The Company has defined levels of responsibilities and reporting procedures to safeguard assets and maintain financial records[182] Investment and Development - The Company is actively investing in new product development, with an allocation of HKD 100 million towards innovative real estate solutions[51] - Zhaobangji is pursuing market expansion strategies, targeting new regions in Southeast Asia, aiming for a 25% increase in market share by 2025[51] - The Company plans to adopt a prudent approach in selecting valuable investments to achieve capital gains or dividend income[77]

Financial Performance - For the fiscal year ended March 31, 2023, the company reported a revenue of HKD 258,353,000, a decrease of 5% compared to HKD 271,998,000 in the previous year[16] - The company incurred a loss attributable to owners of HKD (40,985,000) for the current year, compared to a profit of HKD 37,987,000 in the previous year[18] - The gross profit for the year was HKD 32,750,000, down 68.6% from HKD 104,123,000 in the previous year[16] - The total comprehensive loss for the year amounted to HKD (53,499,000), compared to a total comprehensive income of HKD 45,996,000 in the previous year[19] - The basic and diluted earnings per share were reported at (0.66) and 0.61 respectively[37] - The group reported a loss of HKD 40,985,000 for the year ended March 31, 2023, compared to a profit of HKD 37,987,000 in the previous year[90] - The company reported a net loss of HKD 41.0 million compared to a net profit of HKD 38.0 million in the previous year, primarily due to a more challenging business environment[123] Revenue Breakdown - Customer contract revenue for the year was HKD 134,933,000, an increase from HKD 126,719,000 in the previous year, representing a growth of approximately 6.4%[67] - Revenue from machinery sales and related services was HKD 12,814,000, down from HKD 31,638,000, indicating a decline of approximately 59.5%[67] - Property management services generated revenue of HKD 81,920,000, a decrease from HKD 88,543,000, reflecting a decline of about 7.4%[67] - Revenue from construction machinery leasing decreased by approximately HKD 21.8 million or 15.7% to about HKD 116.8 million, attributed to poor market conditions in Hong Kong and mainland China[107] - Revenue from construction machinery trading fell by approximately HKD 18.8 million or 59.5% to about HKD 12.8 million, mainly due to reduced trading demand in the Hong Kong market[109] - Revenue from transportation services decreased by approximately HKD 3.4 million or 54.8% to about HKD 2.8 million, with a strategy to reduce exposure to the transportation business due to anticipated market demand decline[110] - Revenue from property management services decreased by approximately HKD 6.6 million or 7.5% to about HKD 81.9 million, primarily due to management fee discounts offered during the COVID-19 pandemic[111] Assets and Liabilities - The company's non-current assets decreased to HKD 325,701,000 from HKD 245,201,000, reflecting an increase of 32.8%[21] - The company's total liabilities increased to HKD 97,358,000 from HKD 76,473,000, representing a rise of 27.3%[22] - The net asset value of the company decreased to HKD 434,423,000 from HKD 487,922,000, a decline of 10.9%[22] - The group’s borrowings amounted to HKD 26.0 million and lease liabilities were HKD 25.0 million, with a net asset value of zero for the pledged properties, plants, and equipment[131] Financial Standards and Compliance - The adoption of the revised Hong Kong Financial Reporting Standards did not have a significant impact on the group's performance and financial position during the current and prior periods[26] - The group has not early adopted any newly issued Hong Kong Financial Reporting Standards that are effective after January 1, 2023, and expects no significant impact on the consolidated financial statements[33] - The group has complied with all applicable Hong Kong Financial Reporting Standards and the disclosure requirements of the Stock Exchange[41] - The group expects that the adoption of the new standards will not have a significant impact on its financial condition and performance[35] - The group has confirmed that the revised standards regarding the costs of fulfilling contracts did not affect its consolidated financial statements[45] Expenses and Costs - The cost of goods sold was approximately HKD 133,613,000 in 2023, up from HKD 103,664,000 in 2022[8] - Administrative expenses increased by approximately HKD 23.5 million or 63.2% to about HKD 60.7 million, mainly due to increased office rent from the integration of retail business[118] - The total employee cost for the year was approximately HKD 46.0 million, an increase from HKD 44.2 million in the previous year, primarily due to an increase in the number of employees to 380[137] Cash Flow and Investments - The company’s cash and cash equivalents stood at HKD 43,245,000, slightly down from HKD 44,751,000 in the previous year[9] - Capital expenditures for the year amounted to approximately HKD 46.3 million, up from HKD 25.0 million in the previous year, mainly for purchasing properties, factories, and equipment for leasing business[126] - The group purchased and sold property, plant, and equipment totaling approximately HKD 56,933,000 in 2023, compared to HKD 25,366,000 in 2022[91] Governance and Management - The board of directors includes three executive directors and three independent non-executive directors[153] - The company is led by Chairman and Executive Director Mr. Xu Chujia[153] - The board composition reflects a mix of executive and independent oversight[153] - The company emphasizes the importance of board structure and governance in its operations[153]

Revenue Performance - Total revenue decreased by approximately HK$8.6 million, or approximately 6.2%, from approximately HK$137.4 million for the six months ended September 30, 2021, to approximately HK$128.8 million for the current period[33]. - Revenue from leasing of construction machinery decreased by approximately HK$10.6 million, or approximately 14.7%, from approximately HK$72.0 million for the previous period to approximately HK$61.4 million for the current period[34]. - The decrease in total revenue was mainly due to lower income from leasing, trading, and property management businesses, partially offset by an increase in retail business income[33]. - Revenue from construction machinery leasing decreased by approximately HK$10.6 million, or 14.7%, to approximately HK$61.4 million due to reduced construction activities in China[37]. - Revenue from trading of construction machinery fell by approximately HK$13.2 million, or 70.2%, to approximately HK$5.6 million, primarily due to adverse market conditions in Hong Kong[40]. - Revenue from property management services decreased by approximately HK$7.6 million, or 18.2%, to approximately HK$34.3 million, attributed to management fee concessions provided to tenants due to poor retail market conditions in the PRC[42]. - Revenue from property leasing and subletting increased by approximately HK$24.5 million, or 804%, to approximately HK$27.5 million, mainly due to the acquisition of a retail business[43]. - Total revenue for the six months ended September 30, 2022, was HK$128,790,000, a decrease of 6% compared to HK$137,372,000 in 2021[121]. - Revenue from leasing of machinery and related services was HK$61,417,000, down 14.7% from HK$72,003,000 year-over-year[163]. - Sales of machinery and spare parts generated HK$5,592,000, a significant decline of 70.2% compared to HK$18,776,000 in the previous year[163]. - Property management services revenue decreased to HK$34,285,000 from HK$41,917,000, reflecting an 18.2% drop[163]. - Property leasing, subletting, and retail revenue increased to HK$27,496,000, a substantial rise from HK$3,042,000, marking an increase of 804.5%[163]. Financial Performance - Gross profit decreased to HK$17.2 million from HK$58.6 million, with gross profit margin dropping to approximately 13.3% from 42.6% due to poor market conditions and higher costs[49]. - The company reported a net loss of HK$29.4 million for the period, compared to a net profit of HK$38.4 million in the previous period[52]. - Profit from operations was a loss of HK$23,170,000, compared to a profit of HK$46,320,000 in the previous year[121]. - Profit for the period attributable to equity holders of the Company was a loss of HK$29,446,000, compared to a profit of HK$38,372,000 in 2021[123]. - Total comprehensive income for the period was a loss of HK$29,332,000, compared to a gain of HK$40,640,000 in the previous year[123]. - Basic and diluted earnings per share for profit attributable to equity holders was HK(0.47) cents, down from HK0.62 cents in 2021[123]. - The company reported a total segment profit of HK$55,514,000 for the six months ended September 30, 2021, indicating a significant decline in profitability year-over-year[182]. - Segment profit for trading was a loss of HK$8,226,000, while leasing reported a loss of HK$6,962,000, leading to a total segment loss of HK$18,374,000[173]. Expenses and Costs - Selling expenses increased by approximately HK$1.6 million, or 111%, to approximately HK$3.2 million, primarily due to increased staff salaries in the selling department[49]. - Administrative expenses rose by approximately HK$24.5 million, or 164%, to approximately HK$39.5 million, mainly due to higher depreciation expenses from obsolete leasing machineries[49]. - Total cost of sales and services, selling and administrative expenses increased to HK$154,308,000 for the six months ended September 30, 2022, compared to HK$95,295,000 in 2021, representing a growth of 62%[195]. - Staff costs, including directors' emoluments, rose to HK$30,920,000 in 2022 from HK$21,214,000 in 2021, marking an increase of 46%[195]. - Depreciation for owned machinery and equipment significantly increased to HK$52,415,000 in 2022, up from HK$17,469,000 in 2021, reflecting a rise of 200%[195]. - Income tax expenses for the six months ended September 30, 2022, were HK$6,191,000, down from HK$11,580,000 in 2021, indicating a decrease of 47%[199]. Assets and Liabilities - Total assets as of September 30, 2022, were HK$556,847,000, a decrease from HK$613,462,000 as of March 31, 2022[126]. - Total liabilities as of September 30, 2022, amount to HK$116,521, down from HK$125,540 as of March 31, 2022, showing a decrease of approximately 7.5%[130]. - Cash and cash equivalents at the end of the period are HK$41,419, down from HK$111,812 in 2021, representing a decrease of approximately 63.0%[136]. - The company’s reserves decreased from HK$475,587 as of March 31, 2022, to HK$428,270 as of September 30, 2022, a decline of approximately 9.9%[130]. - Current liabilities increased to HK$70,678 as of September 30, 2022, from HK$76,473 in the previous year, indicating a decrease of approximately 7.3%[130]. - Borrowings under current liabilities decreased from HK$9,513 to HK$7,959, a reduction of approximately 16.3%[130]. Strategic Initiatives and Market Conditions - The Group will continue to employ low leverage to navigate challenging market conditions, including higher interest rates and geopolitical tensions[32]. - The overall market conditions in Hong Kong and the PRC were challenging during the period due to various external factors[32]. - The Group is exploring potential opportunities to create long-term value for shareholders despite the current market challenges[32]. - The Group aims to continue its strategic initiatives to enhance its market position and operational efficiency[32]. - The long-term prospect of the Greater Bay Area is expected to remain positive, driven by robust demand from a sizable population and supportive government policies[32]. - The company is focusing on enhancing its property leasing and management services as part of its strategic expansion efforts[164]. Share Capital and Corporate Governance - The total issued share capital of the Company was approximately HK$12.4 million, representing 6,195,000,000 ordinary shares[58]. - As of September 30, 2022, the total number of issued shares was 6,195,000,000[109]. - Boardwin Resources Limited beneficially owned 3,804,096,000 shares, representing approximately 61.41% of the issued share capital of the Company[116]. - The Board does not recommend the payment of any interim dividend to shareholders for the period[94]. - The Audit Committee comprises three independent non-executive Directors as of the date of approval of the interim report[101]. - The unaudited interim condensed consolidated financial statements have been reviewed by the Audit Committee[101].

Economic Conditions - The Group reported a defensive strategy with a low-leverage position due to challenging market conditions[24]. - The COVID-19 pandemic and geopolitical conflicts led to increased inflation, prompting central banks to raise interest rates aggressively[23]. - The People's Bank of China maintained a dovish monetary policy, supporting local businesses amid relatively tame inflation in Mainland China[23]. - The divergence in monetary policies between Hong Kong and Mainland China is expected to create headwinds for the Hong Kong economy[23]. - The Chairman's statement highlights the impact of global economic conditions on the Group's strategy[22]. - The financial performance of the Group has been affected by the COVID-19 outbreak[96]. - Management is closely monitoring the impact of COVID-19 on financial position and performance[97]. Financial Performance - The annual report covers the financial performance for the year ended 31 March 2022[22]. - Total revenue increased by approximately HK$31.9 million, or 13.3%, from approximately HK$240.1 million for the previous year to approximately HK$272.0 million for the year[36]. - Revenue from leasing of construction machinery increased by approximately HK$18.2 million, or approximately 15.1%, from approximately HK$120.4 million for the previous year to approximately HK$138.6 million for the year[37]. - Revenue from property management services increased by approximately HK$24.9 million, or approximately 39.2%, from approximately HK$63.6 million for the previous year to approximately HK$88.5 million for the year[45]. - Revenue from transportation services decreased by approximately HK$6.7 million, or approximately 51.9%, from approximately HK$12.9 million for the previous year to approximately HK$6.2 million for the year[44]. - Revenue from property leasing and subletting decreased by approximately HK$2.0 million, or approximately 21.9%, from approximately HK$9.0 million for the previous year to approximately HK$7.0 million for the year[46]. - The group's gross profit decreased by approximately HK$5.4 million, or approximately 4.9%, from approximately HK$109.5 million to approximately HK$104.1 million, with a gross profit margin decline from approximately 45.6% to approximately 38.2%[54]. - Net profit decreased by approximately HK$50.2 million, or approximately 56.9%, from approximately HK$88.2 million to approximately HK$38.0 million, with a net profit margin decline from approximately 36.7% to approximately 14.0%[57]. Cost and Expenses - Cost of sales and services increased by approximately HK$37.3 million, or approximately 28.6%, from approximately HK$130.6 million for the previous year to approximately HK$167.9 million for the year[47]. - Selling expenses decreased by approximately HK$0.6 million, or approximately 13.4%, from approximately HK$4.8 million to approximately HK$4.1 million, mainly due to a decrease in staff costs in the selling department[54]. - Administrative expenses increased by approximately HK$4.4 million, or 13.4%, from approximately HK$32.8 million to approximately HK$37.2 million, mainly due to higher rental expenses from newly acquired retail shops[54]. - Finance income increased by approximately HK$0.9 million, or approximately 38.1%, from approximately HK$2.4 million to approximately HK$3.4 million, primarily from interest income on receivables[54]. - Finance costs decreased by approximately HK$0.5 million, or approximately 29.7%, from approximately HK$1.8 million to approximately HK$1.3 million, mainly due to a decrease in lease liabilities[54]. - Income tax expense increased by approximately HK$4.7 million, or approximately 26.0%, from approximately HK$18.0 million to approximately HK$22.7 million, with the effective tax rate rising from approximately 17.0% to approximately 36.3%[57]. Strategic Focus - The Group is exploring potential business opportunities to deliver long-term value for shareholders[24]. - The Group aims to continue adapting to market challenges while seeking growth opportunities[24]. - The Group's focus remains on long-term shareholder value amidst fluctuating market dynamics[24]. - The board will continue to employ a low leverage position and explore potential business opportunities to bring long-term value to shareholders[35]. - The company anticipates a decline in market demand in the transportation sector, leading to a strategic reduction in exposure to this business[44]. - The increase in revenue from leasing and property management was primarily due to increased business volume in both Hong Kong and Shenzhen markets[36]. Corporate Governance - The Company has adopted the Corporate Governance Code and complied with applicable code provisions for the Year[127]. - The Board comprises several directors, including Executive Directors Mr. Xu Chujia (Chairman), Mr. Xu Chusheng, Mr. Wei Jinwen, and Mr. Kwan Kin Man Keith[135]. - The Board has established four committees: Audit Committee, Nomination Committee, Remuneration Committee, and Investment Committee to oversee specific aspects of the Company's affairs[129]. - All Directors have confirmed their independence and have brought valuable business experience to the Board[140]. - The Company has implemented a Board diversity policy to enhance performance by considering factors such as age, cultural background, and professional experience[137]. - Directors are encouraged to participate in continuous professional development to stay updated on Listing Rules and regulatory requirements[142]. - The Company has complied with Listing Rules regarding the appointment of independent non-executive Directors, ensuring at least one-third of the Board is independent[135]. - The Company has provided necessary training to Directors to ensure understanding of their responsibilities under applicable laws and regulations[144]. - The Board appointments are based on merit, considering objective criteria and the benefits of diversity[137]. - The Company has maintained high standards of corporate governance to safeguard shareholder interests and enhance corporate value[127]. Future Outlook - The company provided an optimistic outlook, projecting a revenue growth of 20% for the next fiscal year, targeting HKD 1.44 billion[121]. - New product launches are expected to contribute an additional HKD 200 million in revenue, with a focus on innovative technology solutions[118]. - The company is expanding its market presence in Southeast Asia, aiming for a 10% market share by the end of the next fiscal year[121]. - A strategic acquisition of a local competitor is anticipated to enhance market capabilities and is expected to close by Q3 2023[121]. - Research and development expenditures increased by 30%, totaling HKD 150 million, to support new technology initiatives[118]. - The company plans to enhance its digital marketing strategy, allocating an additional HKD 50 million to boost online engagement[121]. - The company aims to reduce operational costs by 10% through efficiency improvements and automation[118].

Revenue Growth - Total revenue increased by approximately HK$19.2 million, or approximately 16.3%, from approximately HK$118.2 million for the six months ended 30 September 2020 to approximately HK$137.4 million for the Period[18] - Revenue for the six months ended September 30, 2021, was HK$137,372,000, an increase of 16.2% compared to HK$118,151,000 in the same period of 2020[88] - Revenue from leasing machinery and related services was HK$72,003,000, up 24.7% from HK$57,771,000 year-over-year[135] - Revenue from property management services increased by 42.3% to HK$41,917,000 compared to HK$29,494,000 in the previous year[135] - Revenue from trading of construction machinery rose by approximately HK$6.8 million, or 56.7%, from approximately HK$12.0 million to approximately HK$18.8 million, attributed to increased trading demand in the Hong Kong market[27] - Revenue from property management services increased by approximately HK$12.4 million, or 42.1%, from approximately HK$29.5 million to approximately HK$41.9 million, mainly due to an expanded portfolio in the Greater Bay Area[30] Business Segments - The Group's machinery leasing and property management businesses recorded growth during the six months ended 30 September 2021[16] - The Group's strategic focus includes enhancing its service offerings in machinery leasing and property management[15] - The Group's reportable segments include leasing, trading, transportation, property management, and property leasing and subletting[138] - The total revenue from property leasing and subletting was HK$3,042,000, a decrease from HK$11,511,000 in the previous year[135] - The segment profit for leasing was HK$24,967,000, contributing significantly to the overall profit before tax of HK$49,952,000[143] Financial Performance - The financial review indicates a positive trend in revenue growth, reflecting the resilience of the Group's business model[20] - Net profit decreased by approximately HK$9.9 million, from approximately HK$48.3 million to HK$38.4 million, representing a decrease of approximately 20.5%[32] - Profit for the period was HK$38,372,000, a decrease of 20.5% from HK$48,267,000 in the previous year[88] - Basic and diluted earnings per share for profit attributable to equity holders was HK$0.62, down from HK$0.78 in the previous year[91] - Total comprehensive income for the period was HK$40,640,000, compared to HK$48,267,000 in the same period of 2020[91] Costs and Expenses - Cost of sales and services increased by approximately HK$21.0 million, or 36.2%, from approximately HK$57.8 million to approximately HK$78.8 million, primarily due to increased business volume in leasing and trading segments[30] - Gross profit decreased to HK$58.6 million from HK$60.3 million, with gross profit margin declining to approximately 42.6% from approximately 51.1%, mainly due to lower margins in the trading segment[30] - Selling expenses decreased to HK$1,505,000 from HK$1,663,000, reflecting a reduction of approximately 9.5%[88] - Administrative expenses were reduced to HK$14,993,000 from HK$17,323,000, a decrease of about 13.4%[88] - Depreciation expenses for the period were HK$25,597,000, compared to HK$20,174,000 in the same period of 2020[161] Cash Flow and Assets - As of September 30, 2021, the Group had cash and cash equivalents of approximately HK$111.8 million, a decrease from approximately HK$133.8 million as of March 31, 2021[34] - Total assets increased to HK$603,601,000 as of September 30, 2021, compared to HK$570,130,000 as of March 31, 2021, reflecting a growth of approximately 5.8%[95] - Current assets rose to HK$320,068,000, up from HK$261,225,000, indicating an increase of about 22.5%[98] - The net decrease in cash and cash equivalents was HK$24,270,000, compared to an increase of HK$36,694,000 in the previous year[107] - The current portion of trade receivables increased to HK$58,318,000 from HK$18,230,000, showing a substantial rise of 219.5%[186] Shareholder Information - The Board does not recommend the payment of any interim dividend for the period[51] - As of September 30, 2021, Mr. Xu Chujia holds 3,441,920,000 shares, representing 55.56% of the company's issued share capital of 6,195,000,000 shares[64][66] - Boardwin Resources Limited, an associated corporation, beneficially owns 3,139,280,000 shares, accounting for approximately 50.67% of the company's issued share capital[75][78] - Ms. Zhang Meijuan, spouse of Mr. Xu Chujia, holds 302,640,000 shares, which is about 4.89% of the issued share capital[68][81] Risk Management - The Group's financial risk management policies have not undergone significant changes during the reporting period[129] - The Group's activities expose it to various financial risks, including foreign currency risk and liquidity risk[129] - The fair values of trade receivables and cash equivalents approximate their carrying values, indicating stable financial health[131] Compliance and Governance - The Audit Committee, established on January 23, 2017, consists of three independent non-executive directors[12] - All directors confirmed full compliance with the Model Code regarding securities transactions during the reporting period[12] - The company has adopted the Model Code for Securities Transactions by Directors of Listed Issuers as its own code of conduct[12] - The interim financial information has been prepared in accordance with Hong Kong Accounting Standard 34, ensuring compliance with local regulations[114]

COVID-19 Impact - The Group's operations were significantly impacted by the COVID-19 pandemic, which affected the global economy and public health[23] - The financial performance of the Group has been affected by the COVID-19 outbreak, with ongoing precautionary measures implemented[67] - The financial performance for the year ended March 31, 2021, was impacted by the COVID-19 pandemic, with ongoing preventive measures in place in mainland China and Hong Kong[69] - The management is closely monitoring the developments of the COVID-19 pandemic and assessing its impact on the company's financial condition, cash flow, and performance[69] Revenue and Financial Performance - Total revenue decreased by approximately HK$14.5 million, or 5.7%, from approximately HK$255 million for the year ended 31 March 2020 to approximately HK$240 million for the Year[41] - Revenue from leasing of construction machinery increased by approximately HK$14.2 million, or approximately 13.4%, from approximately HK$106 million for the Previous Year to approximately HK$120 million for the Year, mainly due to business expansion in Shenzhen[41] - Revenue from trading of construction machinery decreased by approximately HK$21.7 million, or approximately 38.9%, from approximately HK$55.8 million for the Previous Year to approximately HK$34.1 million for the Year, attributable to unfavorable market conditions[41] - Revenue from transportation services decreased by approximately HK$6.4 million, or approximately 33.2%, from approximately HK$19.4 million for the Previous Year to approximately HK$13.0 million for the Year, mainly due to unfavorable market conditions[41] - Revenue from property management services increased by approximately HK$7.0 million, or approximately 12.4%, from approximately HK$56.6 million for the Previous Year to approximately HK$63.6 million for the Year, due to increased area under management in Shenzhen[41] - Net profit increased by approximately HK$51.3 million, or approximately 139%, from approximately HK$36.9 million to approximately HK$88.2 million, with net profit margin increasing from approximately 14.5% to approximately 36.7%[47] Business Strategy and Operations - The Group aims to operate conservatively with extremely low debt, focusing on core areas such as Hong Kong and Shenzhen in the Greater Bay Area[24] - The Group has actively consolidated its existing construction machinery leasing and trading businesses while expanding its property management business in the Greater Bay Area[25] - Future strategies include leveraging major shareholders' resources to develop suitable businesses in Hong Kong and the Greater Bay Area, targeting new markets and customers[25] - The Group continues to expand its footprint in the Greater Bay Area, particularly in Shenzhen, despite the long-term effects of the COVID-19 pandemic still being observed[34] - The Group aims to maintain a conservative operation with low debt levels while focusing on core areas such as Hong Kong and the Greater Bay Area[32] - The Group will continue to explore potential business opportunities to bring long-term value to shareholders[34] Cost and Expenses - Cost of sales and services decreased by approximately HK$21.5 million, or approximately 14.1%, from approximately HK$152 million to approximately HK$131 million, mainly due to lower business volume from the trading of construction machinery[44] - Selling expenses increased by approximately HK$1.4 million, or approximately 42.7%, from approximately HK$3.3 million to approximately HK$4.8 million, mainly due to higher incentives paid to sales[44] - Administrative expenses increased by approximately HK$1.1 million, or approximately 3.5%, from approximately HK$31.7 million to approximately HK$32.8 million, in line with the gain in gross profit[47] Governance and Board Structure - The Company has adopted the Corporate Governance Code and complied with applicable code provisions for the Year[109] - The Board consists of executive directors, non-executive directors, and independent non-executive directors, ensuring a diverse composition[117] - The Company has established four Board committees: Audit Committee, Nomination Committee, Remuneration Committee, and Investment Committee[112] - All independent non-executive directors have confirmed their independence according to rule 3.13 of the Listing Rules[124] - The Company emphasizes Board diversity in terms of age, cultural background, professional experience, and skills[123] - Directors are encouraged to participate in continuous professional development to enhance their knowledge and skills[127] Audit and Compliance - The Audit Committee was established on January 23, 2017, and consists of three independent non-executive directors[183] - The Audit Committee reviewed the accuracy and fairness of the annual financial statements for the year ended March 31, 2020, and the interim financial report for the six months ended September 30, 2020[192] - The internal audit plan for the year ended March 31, 2021, was approved along with the internal audit report for the year ended March 31, 2020[192] - The Audit Committee assessed the effectiveness of the internal control system of the Group[192] - The external auditors' independence was reviewed, and recommendations for their re-appointment were made to the Board[192] - The Company complied with the requirements of the Corporate Governance Code and the Listing Rules[193] Future Outlook and Plans - The company provided guidance for the next fiscal year, projecting revenue growth of 10% to 12%[98] - New product launches are expected to contribute an additional $200 million in revenue, with a focus on innovative technology solutions[98] - The company is expanding its market presence in Southeast Asia, targeting a 30% market share within the next two years[98] - A strategic acquisition was completed, enhancing the company's capabilities in the electronics sector, valued at $300 million[98] - Research and development expenditures increased by 20%, totaling $150 million, to support new technology initiatives[98] - The company plans to implement cost-cutting measures aimed at reducing operational expenses by 5% over the next year[98]

Business Focus and Strategy - The Group continues to focus on high-quality commercial and residential projects in the Greater Bay Area, particularly in Shenzhen, anticipating more business opportunities due to supportive government policies[14] - The Group plans to expand its asset-light property management and commercial management businesses in the Greater Bay Area while continuing to develop its sales and leasing business of machinery and spare parts[15] - The company is primarily engaged in trading machinery and spare parts, leasing machinery, and providing related services, as well as property management services in the PRC[118] Revenue and Profitability - Total revenue decreased by approximately HK$23.2 million, or approximately 16.4%, from approximately HK$141.4 million to approximately HK$118.2 million for the six months ended 30 September 2019[21] - Revenue from leasing of construction machinery increased by approximately HK$10.4 million, or approximately 21.9%, from approximately HK$47.4 million to approximately HK$57.8 million, mainly due to increased business from the PRC[22] - Revenue from trading of construction machinery decreased by approximately HK$28.8 million, or approximately 70.6%, from approximately HK$40.8 million to approximately HK$12 million, attributed to reduced commencement of public projects and economic uncertainties in Hong Kong[27] - Revenue from transportation services decreased by approximately HK$3 million, or approximately 28.8%, from approximately HK$10.4 million to approximately HK$7.4 million, due to a downturn in the overall economy[27] - The Group's net profit increased by approximately HK$24 million, or approximately 98.8%, from approximately HK$24.3 million for the Previous Period to HK$48.3 million for the Period[36] - The profit before tax was HK$58,449,000, an increase from HK$32,219,000 in the previous year, indicating a growth of 81.5%[96] - For the six months ended September 30, 2020, the profit attributable to equity holders of the Company was HK$48,267,000, compared to HK$24,267,000 for the same period in 2019, representing a 99.9% increase[182] Expenses and Costs - Gross profit increased by approximately HK$10.6 million, or approximately 21.3%, from approximately HK$49.7 million to approximately HK$60.3 million, with gross profit margin rising to approximately 51% from approximately 35.1%[29] - Selling expenses decreased by approximately HK$0.4 million, or approximately 19%, from approximately HK$2.1 million to approximately HK$1.7 million, primarily due to reduced staff costs[29] - Administrative expenses decreased by approximately HK$0.4 million, or approximately 2.3%, from approximately HK$17.7 million to approximately HK$17.3 million, mainly due to lower staff costs[29] - Total cost of sales and services, selling and administrative expenses for the six months ended September 30, 2020, was HK$76,994,000, down 30.9% from HK$111,525,000 in 2019[170] Financial Position - As of 30 September 2020, the Group had cash and cash equivalents of approximately HK$114.4 million, an increase from approximately HK$75.4 million as of 31 March 2020[38] - The Group's total current assets and current liabilities were approximately HK$214.9 million and approximately HK$78.10 million, respectively, as of 30 September 2020[38] - The current ratio increased to approximately 2.75 times as of 30 September 2020, up from 1.17 times as of 31 March 2020, mainly due to the settlement of shareholder loans[38] - Total assets as of September 30, 2020, amounted to HK$519,270,000, a decrease from HK$561,137,000 as of March 31, 2020, representing a decline of approximately 7.5%[106] - The company's total equity increased to HK$395,758,000 as of September 30, 2020, compared to HK$345,268,000 as of March 31, 2020, reflecting an increase of about 14.6%[106] Share Capital and Dividends - The Group's total issued share capital was approximately HK$12.4 million, representing 6,195,000,000 ordinary shares of HK$0.002 each as of 30 September 2020[38] - The Board does not recommend the payment of any interim dividend to shareholders for the Period[59] - The Company did not recommend the payment of any interim dividend for the six months ended September 30, 2020[175] Cash Flow - For the six months ended 30 September 2020, net cash used in operating activities was HK$138,717,000, compared to a net cash used of HK$42,047,000 in the same period of 2019[24] - The net increase in cash and cash equivalents for the period was HK$36,694,000, contrasting with a net decrease of HK$127,502,000 in the same period of 2019[24] - Cash and cash equivalents at the end of the period were HK$114,383,000, up from HK$62,023,000 at the end of the same period last year[24] Compliance and Governance - The interim financial information has been prepared in accordance with Hong Kong Accounting Standard 34, indicating compliance with relevant financial reporting standards[121] - The Company complied with the applicable code provisions under the Corporate Governance Code during the Period[63] - The Audit Committee reviewed the unaudited interim condensed consolidated financial statements for the Period[67] Segment Performance - Revenue is derived from leasing machinery, sales of machinery and spare parts, transportation services, and property management services[142] - Segment profit for leasing was HK$22,117,000, while trading segment profit was only HK$1,516,000, indicating a shift in profitability focus[153] - The company reported a segment profit of HK$54,268,000 for the six months ended September 30, 2020[153] Employee Costs - The Group's total employee costs for the Period were approximately HKD 18.9 million, compared to HKD 19.8 million in the previous period[56] - Staff costs, including directors' emoluments, amounted to HK$12,427,000 for the six months ended September 30, 2020, down from HK$14,607,000 in 2019, a decrease of 15.0%[170]

Financial Performance - The company reported a significant increase in revenue, achieving a total of $200 million, representing a 15% growth compared to the previous year[1]. - Total revenue increased by approximately HK$34.9 million, or 15.9%, from approximately HK$219.7 million for the year ended 31 March 2019 to approximately HK$254.6 million for the Year[21]. - Revenue from leasing of construction machinery increased by approximately HK$9.2 million, or approximately 9.5%, from approximately HK$97.0 million for the Previous Year to approximately HK$106.2 million for the Year[21]. - Revenue from property management services increased by approximately HK$32.9 million, or 138.8%, from approximately HK$23.7 million for the Previous Year to approximately HK$56.6 million for the Year[21]. - Revenue from transportation services increased by approximately HK$1.5 million, or 8.4%, from approximately HK$17.9 million for the Previous Year to approximately HK$19.4 million for the Year[21]. - Revenue from trading of construction machinery decreased by approximately HK$11.0 million, or approximately 16.5%, from approximately HK$66.8 million for the Previous Year to approximately HK$55.8 million for the Year[21]. - Net profit increased by approximately HK$6.3 million, or approximately 20.6%, from approximately HK$30.6 million to approximately HK$36.9 million[26]. Market Expansion and Strategy - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 20%[1]. - New product launches are expected to contribute an additional $30 million in revenue, with a focus on innovative technology solutions[1]. - The company is expanding its market presence in Southeast Asia, targeting a 10% market share within the next two years[1]. - A strategic acquisition of a local competitor is anticipated to enhance operational capabilities and increase market penetration[1]. - The Group plans to continue exploring potential business opportunities in Shenzhen and the Greater Bay Area to enrich revenue streams and business portfolio[17]. - The Group aims to diversify its portfolio by entering new sectors, including renewable energy, to drive future growth[1]. Operational Efficiency and Cost Management - The company plans to implement cost-cutting measures aimed at improving profit margins by 5% in the upcoming year[1]. - Research and development expenses increased by 12%, reflecting the company's commitment to innovation and product development[1]. - Cost of sales and services amounted to approximately HK$152.1 million, representing an increase of approximately 5.5% from approximately HK$144.2 million[23]. - Selling expenses decreased by approximately HK$1.6 million, or approximately 32.7%, from approximately HK$4.9 million to approximately HK$3.3 million[23]. - Administrative expenses increased by approximately HK$1.0 million, or 3.3%, from approximately HK$30.7 million to approximately HK$31.7 million[26]. Corporate Governance - The company has adopted the Corporate Governance Code as set out in Appendix 14 to the Rules Governing the Listing of Securities on the Stock Exchange[76]. - The company has complied with the applicable code provisions under the CG Code for the Year[76]. - The board is committed to maintaining high standards of corporate governance to safeguard the interests of shareholders[76]. - The Company has established formal risk assessment criteria, with senior management identifying and ranking risks annually based on their impact and likelihood[161]. - The Company has developed and reviewed its policies and practices on corporate governance during the year[139]. Risk Management - The Board is responsible for overseeing the Group's risk management and internal control systems, which are reviewed annually by the Audit Committee[160]. - The Company has an internal audit function that develops internal control manuals and conducts reviews to ensure compliance with risk management policies[163]. - The annual risk assessment results are reported to the Audit Committee, including significant risks and control activities to mitigate them[165]. Stakeholder Engagement - The Group's success relies on support from key stakeholders, including employees, customers, and suppliers[184]. - The Group has established long-term relationships with major customers and suppliers, enhancing trust and confidence in its capabilities[191]. - The Directors believe that effective communication with customers allows for better understanding of market trends and customer needs, leading to product improvements[192]. - The Company emphasizes effective communication with Shareholders to enhance investor relations and understanding of its business and strategies[172]. Human Resources and Development - The Group provides competitive remuneration and benefits to employees, promoting diversity and career development opportunities[188]. - The Group is committed to ongoing employee training and development to keep them updated on market and industry developments[188]. - The management team includes professionals with extensive backgrounds in construction, property management, and legal affairs, enhancing the company's strategic positioning[55][56]. Financial Position - As of March 31, 2020, the Group had a bank and cash balance of approximately HK$75.5 million, down from HK$189.5 million in 2019, and borrowings of approximately HK$30.1 million, compared to HK$46.4 million in 2019[28]. - The gearing ratio as of March 31, 2020, was 15.61%, whereas it was not applicable in 2019 due to a net cash position[28]. - Total current assets and current liabilities were approximately HK$198.5 million and HK$169.9 million, respectively, resulting in a current ratio of approximately 1.2 times as of March 31, 2020, compared to 1.1 times in 2019[28]. Impact of COVID-19 - The Group's ongoing projects were significantly affected by the COVID-19 pandemic, particularly in the fourth quarter of the Year[17]. - The financial performance for the year was adversely affected by the COVID-19 outbreak, with precautionary measures implemented across Mainland China and Hong Kong[37]. - The company has taken relevant actions to minimize the unfavorable impact of COVID-19 on its financial position and performance[40]. - The company will closely monitor the development of the COVID-19 pandemic and evaluate its impact on financial performance and cash flows[40].