Revenue Performance - Revenue for the six months ended September 30, 2020, was HK$500.73 million, an increase of 21% from HK$413.85 million in the same period of 2019[7]. - The Group's total revenue for the six months ended September 30, 2020, was HK$500.7 million, representing an increase of 20.97% compared to HK$413.8 million for the same period in 2019[39]. - Revenue from foundation and other civil works amounted to HK$368.4 million, up from HK$312.1 million in the previous year, reflecting a growth of 18.06%[39]. - Revenue from tunneling works was HK$62.2 million, compared to HK$44.0 million in the prior year, indicating a significant increase of 41.14%[39]. - The sales of aquatic products, including fish, crabs, and shrimps, generated revenue of HK$70.0 million, which is an increase from HK$25.6 million in the previous year[39]. - Revenue from external customers in Hong Kong was HK$421,870,000, while the PRC contributed HK$70,139,000, and the Philippines added HK$8,720,000, showing a diversified revenue stream[63]. Profitability - Gross profit decreased to HK$51.53 million, down 24% from HK$67.98 million year-on-year[7]. - Profit for the period was HK$9.42 million, a significant decline of 68% compared to HK$29.55 million in the previous year[7]. - Total comprehensive income for the period was HK$11.04 million, down from HK$20.27 million in the same period last year[9]. - Basic and diluted earnings per share were HK$0.04, compared to HK$0.06 in the previous year[9]. - Segment profit for the foundation and civil works was HK$35,323,000, while tunneling works generated a profit of HK$10,849,000, and aquatic products contributed HK$8,011,000, totaling HK$54,183,000 in segment profit[51]. - Profit before taxation for the six months ended September 30, 2020, was HK$13,378,000, compared to HK$35,427,000 for the same period in 2019, indicating a decrease of approximately 62.3%[52][63]. Expenses - Administrative and other expenses increased to HK$51.72 million, up from HK$48.27 million in the previous year[7]. - Selling and distribution expenses rose to HK$15.31 million, compared to HK$9.86 million in the same period of 2019[7]. - Research and development expenses increased significantly to HK$7,052,000 from HK$1,074,000, marking a rise of approximately 553.5%[71]. - Employee benefits expenses rose to HK$105,529,000 from HK$82,103,000, reflecting an increase of approximately 28.5%[71]. - Interest expenses on borrowings increased to HK$4,655,000 from HK$2,022,000, which is an increase of about 130.5%[69]. Assets and Liabilities - As of September 30, 2020, total assets amounted to HK$522,361,000, an increase of 5.5% from HK$495,096,000 as of March 31, 2020[11]. - Current assets increased significantly to HK$141,721,000, up 15.4% from HK$122,785,000 as of March 31, 2020[11]. - Non-current assets rose to HK$317,100,000, reflecting a growth of 5.8% compared to HK$299,638,000 as of March 31, 2020[11]. - Total liabilities as of September 30, 2020, were HK$443,370,000, an increase from HK$409,684,000 as of March 31, 2020[58]. - Current liabilities increased to HK$380,640,000, compared to HK$372,311,000 as of March 31, 2020[11]. Cash Flow - Net cash from operating activities for the six months ended 30 September 2020 was HK$35,445,000, compared to a net cash used of HK$29,575,000 in the same period of 2019[28]. - Net cash used in investing activities amounted to HK$39,220,000, an increase from HK$33,889,000 in the prior year[28]. - Financing activities generated net cash of HK$13,539,000, a decrease from HK$71,853,000 in the previous year[28]. - The total cash and cash equivalents at the end of the reporting period were HK$41,502,000, down from HK$78,698,000 at the end of the previous period[28]. Strategic Focus - The company plans to focus on market expansion and new product development to drive future growth[7]. - The Group intends to use genetic modification for biosynthetic exploration to provide new solutions for drug source bottlenecks and to invest in the research and development of marine functional products and innovative drugs[158]. - The Group is actively expanding its aquatic products business by entering into letters of intent for strategic cooperation with parties possessing extensive resources in various coastal provinces in the PRC[161]. Market and Operational Insights - The Group operates in three geographical locations: Hong Kong, the PRC, and the Philippines, indicating a broad operational footprint[61]. - The Group's biological assets included 31,965 kg of live fishes, down 51.9% from 66,420 kg as of 31 March 2020[99]. - The Group's breeding stock of live crabs increased significantly to 45,606 kg as of 30 September 2020, compared to 5,476 kg as of 31 March 2020[99]. - The Group faced risks from environmental changes and commodity prices, prompting diversification of farm locations to mitigate adverse climatic conditions[100]. Financial Position - The Group's current ratio as of 30 September 2020 was approximately 1.4 times, compared to 1.3 times as of 31 March 2020[186]. - The gearing ratio as of 30 September 2020 was approximately 52.2%, down from 53.1% as of 31 March 2020[186]. - The Group has pledged assets totaling approximately HK$28.1 million to secure banking facilities, an increase from HK$26.9 million as of March 31, 2020[191].

義合控股有限公司 Yee Hop Holdings Limited (Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立的有限公司) Stock Code 股份代號：1662 Antone mma HITTH 2019/20 ANNUAL REPORT 年 報 咖啡 分子育種技術 Molecular breeding omanboomdanaaloomaboomboomaboomaboomaloomaloo Contents 目錄 | --- | --- | --- | --- | |-------|-------------------------------------------------------------------|-------|------------------------------------------------------------------| | | | | | | 2 | Corporate Information 公司資料 | 68 | Consolidated Statemen ...

Financial Performance - Revenue for the six months ended September 30, 2019, was HK$413,845,000, an increase from HK$310,974,000 in the same period of 2018, representing a growth of 33.2%[7] - Gross profit for the period was HK$67,977,000, compared to HK$64,628,000 in the previous year, indicating a slight increase of 5.3%[7] - Profit for the period attributable to owners of the Company was HK$29,054,000, down from HK$32,115,000 in the prior year, reflecting a decrease of 9.6%[7] - Total comprehensive income for the period was HK$20,274,000, compared to HK$27,754,000 in the same period last year, a decline of 26.9%[7] - Basic and diluted earnings per share remained stable at HK$0.06 for both periods[7] Expenses and Costs - Administrative and other expenses totaled HK$48,273,000, an increase from HK$25,615,000 in the previous year, showing a rise of 88.1%[7] - Finance costs for the period were HK$2,284,000, compared to HK$967,000 in the previous year, indicating an increase of 136.5%[7] - Income tax expense for the period was HK$5,876,000, a decrease from HK$6,732,000 in the prior year, reflecting a reduction of 12.7%[7] Assets and Liabilities - As of September 30, 2019, total assets amounted to HK$487,859,000, an increase of 20.8% from HK$403,921,000 as of March 31, 2019[9] - Net current assets increased to HK$136,243,000, compared to HK$134,941,000 as of March 31, 2019, reflecting a slight growth of 1%[9] - The company's net assets reached HK$394,835,000, up from HK$358,492,000, representing a growth of 10.1%[11] - Current liabilities increased to HK$351,616,000 from HK$268,980,000, representing a rise of 30.7%[9] - Total liabilities as of September 30, 2019, were HK$393,239,000, compared to HK$310,292,000 as of March 31, 2019, indicating an increase of approximately 26.7%[67] Cash Flow - For the six months ended September 30, 2019, net cash used in operating activities was HK$ (29,575,000), a significant decrease compared to HK$ 98,957,000 in the same period of 2018[20] - Net cash used in investing activities amounted to HK$ (33,889,000), compared to HK$ (28,926,000) in the prior year, indicating increased investment outflows[20] - Financing activities generated net cash of HK$ 71,853,000, a substantial increase from HK$ 10,155,000 in the previous year, primarily due to new bank borrowings raised of HK$ 91,800,000[20] Revenue Segmentation - Revenue from construction under foundation and other civil works was HK$312.095 million, while tunneling works generated HK$23.976 million, indicating strong performance in civil engineering projects[50] - Revenue from sales of aquatic products, including fish, crabs, and shrimps, totaled HK$77.774 million, contributing significantly to the overall revenue[51] - Revenue from external customers in Hong Kong was HK$320,481,000, while revenue from the PRC was HK$77,774,000, and from the Philippines was HK$15,590,000[71] Biological Assets - The carrying value of biological assets was HK$57,807,000, up from HK$32,054,000 as of March 31, 2019, indicating an increase of 80%[117] - The quantity of live crabs owned by the Group significantly increased to 124 tons as of September 30, 2019, up from 20 tons as of March 31, 2019, marking a growth of 520%[113] - The Group's biological assets increased due to purchases and breeding, with an addition of HK$45,028,000 during the reporting period[117] Employee and Operational Metrics - Employee benefits expenses, including directors' emoluments, increased to HK$82,103 for the six months ended September 30, 2019, from HK$71,144 in the same period of 2018, reflecting a rise of approximately 15%[85] - As of September 30, 2019, the Group had 427 employees in Hong Kong, 160 in the Philippines, and 148 in Shenzhen, showing an increase in Hong Kong (6% from 403) and the Philippines (125% from 71), while a decrease in Shenzhen (9% from 162)[198] Strategic Developments - The Group expanded its foundation and civil works to the Philippines and completed the acquisition of 70% share capital in SZ BGI[158] - The Group is committed to developing the entire industry chain of aquatic organisms through its investment in SZ BGI[161] - The Group has executed four letters of intent for strategic cooperation, including collaborations with Shanghai Pudong Agricultural Development and investments in marine organism research centers[166]

Financial Performance - The Group recorded consolidated revenue of approximately HK$600.3 million, representing an increase of 11.3% from the previous year[14]. - Gross profit amounted to HK$116.3 million, an increase of 34.4% compared to the previous year[14]. - Profit attributable to owners of the Company was HK$41.1 million, reflecting a 36.1% increase from the previous year[14]. - Earnings per share were HK$0.08 for the 2019 Financial Year, up from HK$0.06 in the previous year[14]. - The Group's revenue for the 2019 Financial Year increased to approximately HK$600.3 million, representing an 11.3% increase from HK$539.3 million in the previous year[33]. - Revenue from foundation and other civil works increased by HK$50.7 million, an increase of 11.2%, while tunneling works revenue rose by HK$1.7 million, a 2.0% increase[33]. - The consolidated profit attributable to the owners of the Company for the 2019 Financial Year was approximately HK$41.1 million, representing an increase of 36.2% compared to approximately HK$30.2 million for the 2018 Corresponding Year[60]. - The Group incurred capital expenditure of HK$36.0 million for the 2019 Financial Year, a significant increase from HK$9.8 million in the 2018 Corresponding Year[62]. - Income tax expenses increased by approximately HK$4.7 million to approximately HK$10.5 million for the 2019 Financial Year, due to an increase in operating profit[60]. Contracts and Projects - The Group successfully secured 14 contracts with original contract sums totaling HK$574.2 million, with an outstanding contract value of approximately HK$1,011.3 million as of March 31, 2019[15]. - The Birmingham Property Project consists of 304 residential apartments, with about 41.8% pre-sold, expected to be completed by 2020[12]. - The Group was awarded 14 contracts with an original contract sum of approximately HK$574.2 million, all for foundation works in Hong Kong[34]. - As of March 31, 2019, the Group had 21 major contracts on hand with an outstanding contract value of approximately HK$1,011.3 million[34]. - The Group has diversified its operations into the Philippines for site foundation works and is seeking direct cooperation with mining companies[11]. Financial Position - The Group maintained a healthy financial position with net current assets of HK$134.9 million and a net cash position at the financial year end[14]. - As of 31 March 2019, the Group had bank balances and cash of approximately HK$73.2 million, up from approximately HK$46.2 million as of 31 March 2018[62]. - The Group's current ratio decreased to approximately 1.5 times as of 31 March 2019, down from 2.8 times as of 31 March 2018[62]. - The Group's net current assets as of 31 March 2019 were approximately HK$134.9 million, a decrease from approximately HK$179.2 million as of 31 March 2018[62]. - The gearing ratio as of 31 March 2019 was approximately 14.2%, compared to 6.8% as of 31 March 2018[62]. Safety and Compliance - The Group maintained accident rates at construction sites lower than the industry average, reflecting its commitment to safety[46]. - The Group received multiple awards for site safety and health practices during the 2019 Financial Year, recognizing its efforts in maintaining high safety standards[46]. - The Group has implemented management and quality assurance standards in accordance with ISO 9001, ISO 14001, and ISO 50001[156]. - The Group has engaged external consultants for annual reviews of its internal control and risk management systems[154]. - The Board considers that proper internal control and risk management systems are effectively implemented[155]. Corporate Governance - The Group's management is committed to enhancing corporate governance practices to improve accountability and transparency[86]. - The Board of Directors confirmed compliance with the Model Code for securities transactions during the 2019 Financial Year[89]. - The Company has arranged Directors and Officers Liability Insurance to cover legal actions against Directors and management in relation to their duties[92]. - The roles of the Chairman and the Chief Executive Officer are segregated, with Mr. Jim Yin Kwan Jackin as Chairman and Mr. Yan Chi Tat as Chief Executive Officer[94]. - The Audit Committee consists of three Independent Non-executive Directors, with Mr. Lee Luk Shiu as the Chairman, and has held three meetings during the reporting period[102][105]. Employee and Management - The Group's employee remuneration expense and Directors' emoluments amounted to approximately HK$165.3 million for the 2019 Financial Year, an increase from HK$130.2 million in the 2018 Corresponding Year[75]. - As of 31 March 2019, the Group employed 403 employees in Hong Kong, 71 in the Philippines, and 162 in Shenzhen, showing significant growth in workforce compared to the previous year[75]. - The executive directors have extensive experience in the engineering and construction industry, with Mr. Jim Yin Kwan Jackin having over 30 years[179][180]. - The management team includes members with advanced degrees in engineering and business, ensuring a high level of expertise in strategic decision-making[185][188][196]. Shareholder Relations - The Group emphasizes effective communication with shareholders to enhance investor relations and transparency[166]. - All resolutions proposed at the 2018 AGM were approved by poll, with results published on the Stock Exchange and Company websites[167]. - Shareholders holding at least 10% of the paid-up capital can requisition an extraordinary general meeting[169]. - Shareholders can send inquiries to the Board via the head office or email[173]. Strategic Direction - The Group aims to maintain its foundation and tunneling business as its core operations while diversifying its business spectrum and broadening its revenue base[40]. - The Group's management will continue to strengthen its position in the industry by increasing management staff and improving operational efficiency[83]. - The planned use of net proceeds included expanding capacity in foundation and tunneling businesses, with HK$62.8 million and HK$30.3 million allocated respectively[83].