Business Growth and Strategy - The Group's business grew steadily during the six months ended 30 September 2019, particularly in the newly commenced property management and leasing sectors[13] - The PRC's policies promoting the Guangdong-Hong Kong-Macao Greater Bay Area are expected to create significant investment opportunities, despite strict controls in some real estate markets[13] - The Group is confident in the future development potential of the Greater Bay Area, which is seen as a key area for global investment[14] - The Group plans to leverage its Directors' network in the Greater Bay Area to continue property management, leasing management, and real estate investment[14] - The Board will adopt a low debt and steady development strategy in response to changing global conditions[14] - The company plans to continue expanding its portfolio of properties under management in the Greater Bay Area[18] - The board remains confident in the development potential of the Greater Bay Area as a key investment region despite regulatory challenges in some areas[16] Financial Performance - Total revenue increased by approximately HK$63.8 million, or approximately 82.2%, from approximately HK$77.6 million to approximately HK$141.4 million for the six months ended 30 September 2019[18] - Revenue from trading of construction machinery increased by approximately HK$22.2 million, or approximately 119.4%, from approximately HK$18.6 million to approximately HK$40.8 million[18] - Revenue from transportation services increased by approximately HK$2.4 million, or 30.0%, from approximately HK$8.0 million to approximately HK$10.4 million[18] - Revenue from property management services recorded approximately HK$29.3 million for the period, following the expansion into this segment[18] - Revenue from property leasing and subletting was approximately HK$13.5 million for the period, reflecting the company's strategy to expand in the Greater Bay Area[21] - Gross profit increased by approximately HK$18.1 million, or 57.3%, from approximately HK$31.6 million to approximately HK$49.7 million, while gross profit margin decreased to approximately 35.1%[21] - Other income and gains increased by approximately HK$1.3 million, or 72.2%, from approximately HK$1.8 million to approximately HK$3.1 million[21] - Cost of sales and services amounted to approximately HK$91.7 million, representing an increase of approximately 99.8% from approximately HK$45.9 million[21] - Net profit increased by approximately HK$11.5 million, from approximately HK$12.8 million to approximately HK$24.3 million, representing a net profit increase of approximately 89.8%[23] - Total comprehensive income for the period was HK$25,027,000, compared to HK$13,567,000 in 2018, indicating a growth of 84.5%[78] - Basic and diluted earnings per share for the period were HK$1.96, compared to HK$1.03 in the previous year, representing an increase of 90.3%[78] Expenses and Costs - Administrative expenses increased by approximately HK$3.7 million, or 26.4%, from approximately HK$14.0 million to approximately HK$17.7 million, mainly due to higher staff costs and professional expenses[23] - Finance income surged by approximately HK$374,000, or 3,740.0%, from approximately HK$10,000 to approximately HK$384,000, attributed to an increase in total fixed bank deposit amount[23] - Finance costs decreased by approximately HK$0.2 million, or 14.3%, from approximately HK$1.4 million to approximately HK$1.2 million, mainly due to repayment of bank loans[23] - Income tax expense increased by approximately HK$5.4 million, or approximately 207.7%, from approximately HK$2.6 million to approximately HK$8.0 million, primarily due to business development in the Greater Bay Area[23] - The effective tax rate rose from approximately 17.1% to approximately 24.7%, mainly due to a higher tax rate applicable to property management and leasing segments[23] Capital and Liquidity - Total capital expenditure for the period was approximately HK$92.0 million, up from approximately HK$76.2 million, primarily for purchasing property, plant, and equipment[28] - As of 30 September 2019, cash and cash equivalents were approximately HK$62.0 million, down from approximately HK$189.5 million, while borrowings decreased to approximately HK$38.0 million from approximately HK$46.4 million[26] - Current ratio decreased to approximately 0.9 times as of 30 September 2019, down from 1.1 times, mainly due to repayment of shareholder loans[26] - Capital commitments for machinery and equipment contracted but not provided for were approximately HK$18.5 million, up from HK$13.9 million[28] - The Group's general working capital utilization was HK$1.3 million, with HK$2.0 million remaining unutilized as of September 30, 2019[35] Shareholding and Corporate Governance - As of September 30, 2019, the total issued shares of the company were 1,239,000,000[53] - Mr. Xu Chujia holds 700,528,000 shares, representing approximately 56.54% of the issued share capital[50] - Boardwin Resources Limited beneficially owns 640,000,000 shares, accounting for about 51.65% of the issued share capital[62] - Ms. Zhang Meijuan owns 60,528,000 shares, which is approximately 4.89% of the issued share capital[71] - The company has undergone several changes in its board of directors, with multiple appointments and resignations effective from August and October 2019[46] - The Group has complied with the Corporate Governance Code during the period, maintaining high standards of corporate governance[38] Taxation - Hong Kong profits tax for the six months ended September 30, 2019, amounted to HK$2,851,000, compared to HK$1,398,000 for the same period in 2018, reflecting an increase of 104.4%[193] - Mainland China taxes for the same period were HK$5,101,000, significantly up from HK$52,000 in 2018, indicating a substantial increase of 9,800%[193] - Total income tax expenses for the six months ended September 30, 2019, were HK$7,952,000, compared to HK$2,630,000 in 2018, representing an increase of 202.3%[193] - The Hong Kong profits tax rate remains at 16.5% for the six months ended September 30, 2019, consistent with the previous year[194] - The Mainland China Corporate Income Tax rate is maintained at 25% for the same period, unchanged from 2018[194] Accounting Changes - The Group has adopted HKFRS 16, which will impact the accounting treatment of leases, requiring recognition of lease liabilities and right-of-use assets on the balance sheet[141] - The Group recognized lease liabilities related to previously classified 'operating leases' at a present value of remaining lease payments, discounted using an incremental borrowing rate of 4.35% as of April 1, 2019[149] - Right-of-use assets recognized include commercial buildings valued at HKD 16,675,000, with depreciation of HKD 3,239,000, resulting in a net value of HKD 13,436,000[150] - Lease liabilities amounted to HKD 13,497,000, reflecting the Group's obligations under the new accounting standard[150] - The new accounting standard will replace rental expenses with depreciation and interest expenses, potentially reducing overall lease expenditures[147]

Financial Performance - The company reported a consolidated comprehensive income of HKD 150 million for the fiscal year, representing a 20% increase compared to the previous year[6]. - Total revenue increased by approximately HK$69.7 million, or 46.5%, from approximately HK$150.0 million for the Previous Year to approximately HK$219.7 million for the Year[30]. - The company reported a significant increase in revenue, achieving a total of $500 million, representing a 20% year-over-year growth[92]. - The company reported a significant increase in revenue, achieving a total of $1.2 billion, representing a 15% year-over-year growth[134]. - Net profit increased by approximately HK$2.4 million, from approximately HK$28.2 million to approximately HK$30.6 million, representing a net profit rise of approximately 8.5%[46]. User Growth and Market Expansion - User data showed a growth in active users by 15%, reaching a total of 1.2 million users by the end of the fiscal year[6]. - User data showed a growth in active users to 2 million, up from 1.5 million, indicating a 33.3% increase[93]. - User data showed a growth in active users, reaching 5 million, which is a 20% increase compared to the previous year[134]. - The company is expanding its market presence in Southeast Asia, targeting a 25% increase in market share within the next two years[6]. - The company is expanding its market presence in Southeast Asia, aiming to capture a 10% market share by the end of the next fiscal year[92]. Future Outlook and Projections - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 15%[6]. - The company provided an optimistic outlook, projecting a revenue increase of 15% for the next fiscal year, targeting $575 million[94]. - The company provided an optimistic outlook for the next fiscal year, projecting a revenue growth of 10% to 12%[134]. Product Development and Innovation - New product launches are expected to contribute an additional HKD 30 million in revenue, with a focus on enhancing user experience[6]. - New product launches are expected to contribute an additional $50 million in revenue, with a focus on innovative technology solutions[95]. - New product launches are expected to contribute an additional $200 million in revenue, with a focus on innovative technology solutions[134]. - The company has invested $10 million in research and development for new technologies, aiming to improve operational efficiency[94]. - Investment in research and development has increased by 30%, focusing on sustainable technologies and digital transformation[134]. Cost Management and Efficiency - The company aims to improve its gross margin from 35% to 40% through cost optimization strategies[6]. - The company plans to implement cost-cutting measures that could save approximately $15 million annually[92]. - Operational efficiency improvements are projected to reduce costs by 5% over the next year, contributing to overall profitability[134]. Corporate Governance - The Group is committed to maintaining high standards of corporate governance to safeguard shareholder interests and enhance corporate value and accountability[105]. - The Company has complied with all code provisions set out in the Corporate Governance Code throughout the Year, except for certain regular Board meetings convened with less than 14 days' notice[106]. - The Board has established four committees: Audit Committee, Nomination Committee, Remuneration Committee, and Investment Committee to oversee specific aspects of the Company's affairs[107]. - The Company aims to meet the requirements of the Corporate Governance Code in the future[106]. - The Company has adopted the Corporate Governance Code as its corporate governance practices[105]. Board Composition and Management - The company has a strong board with diverse expertise in construction, legal, and financial sectors, enhancing its strategic decision-making capabilities[84]. - The board's composition reflects a commitment to governance and strategic oversight, with members holding advanced degrees and professional qualifications[87]. - The Board of Directors includes Mr. Xu Chujia as Chairman and five other executive directors, with several resignations and appointments noted during the year[115]. - The Company complied with Listing Rules requiring at least three independent non-executive directors, with one possessing appropriate professional qualifications[118]. - The Company adopted a Board diversity policy to enhance performance by considering age, cultural background, professional experience, and skills in board composition[119]. Audit and Compliance - The Audit Committee reviewed the accuracy and fairness of the annual financial statements for the year ended March 31, 2018, and the interim financial report for the six months ended September 30, 2018[171]. - The Audit Committee approved the internal audit plan for the year ended March 31, 2019, and the internal audit report for the year ended March 31, 2018[171]. - The Company monitored compliance with the Corporate Governance Code and legal requirements throughout the year ended March 31, 2019[174]. - The Audit Committee assessed the effectiveness of the Group's internal control system[171]. - The Audit Committee reviewed the financial reporting and compliance procedures, including the management's report on internal control systems[173]. Employee and Remuneration Policies - The total staff costs incurred by the Group for the Year were approximately HK$34.0 million, an increase from approximately HK$23.7 million in 2018, mainly due to an increase in headcount and salary increments[56]. - The remuneration policy and structure of the company were reviewed during the year[198]. - The Remuneration Committee ensures no Director is involved in deciding their own remuneration[189]. - The annual performance bonus for executive Directors and senior management is considered based on their achievements against performance criteria[197]. - The company aims to ensure that compensation arrangements are fair and not excessive, consistent with contractual terms[197].