捐獻 股本 優先購買權 本公司或其任何附屬公司於截至二零二四年三月三十一日止年度概無購買、出售或贖回本公司任何上市證券。 因根據該計劃及任何其他計劃將予授出的所有購股權獲行使時而可予發行的最高股份數目，合共不得超出上市日期本公司 已發行股份數目的10%（即80,000,000股股份）。因行使於截至授出日期止任何十二個月期間內向每位參與者授出的購股權 （包括已行使、已註銷及尚未行使的購股權）而已發行及將予發行的股份總數合共不得超出本公司已發行股份數目的1%。 因行使根據該計劃及本公司任何其他購股權計劃已授出但尚未行使的所有發行在外購股權而可予配發及發行的最高股份數 目，合共不得超出本公司不時已發行股份數目的30%。 | --- | --- | |---------------------------------------------------------------------------------------|------------------------------------| | | | | | | | 於本年度內及截至本年報日期的董事如下： | | | 執行董事 | | | 戈張先生 （主席） ...

Financial Performance - For the fiscal year ending March 31, 2024, the revenue was approximately HKD 121.5 million, an increase of 11.2% compared to approximately HKD 109.3 million for the fiscal year ending March 31, 2023[2]. - The gross profit for the fiscal year ending March 31, 2024, was approximately HKD 2.0 million, down from HKD 6.6 million for the fiscal year ending March 31, 2023[2]. - The loss attributable to the owners of the company for the fiscal year ending March 31, 2024, was approximately HKD 90.4 million, compared to approximately HKD 26.6 million for the fiscal year ending March 31, 2023[2]. - The net loss before tax for the fiscal year ending March 31, 2024, was approximately HKD 90.2 million, compared to approximately HKD 26.7 million for the fiscal year ending March 31, 2023[10]. - For the fiscal year ending March 31, 2024, the group recorded a net loss of approximately HKD 90.42 million and an operating cash outflow of about HKD 38.20 million[38]. - The pre-tax loss for the year 2024 is HKD 105,517,000, compared to HKD 97,887,000 in 2023, reflecting an increase in costs[57]. - The company reported a segment EBITDA of (89,120,000) for the year, compared to (93,012,000) in the previous year, indicating an improvement in operational performance[71]. - The pre-tax loss for the year was (90,238,000), which is a slight decrease from (90,417,000) in the previous year, showing a marginal improvement[71]. Expenses - The selling and marketing expenses for the fiscal year ending March 31, 2024, were approximately HKD 35.4 million, significantly higher than approximately HKD 4.0 million for the fiscal year ending March 31, 2023[2]. - Administrative expenses for the fiscal year ending March 31, 2024, were approximately HKD 60.1 million, compared to approximately HKD 29.9 million for the fiscal year ending March 31, 2023[2]. - The group generated employee costs of approximately HKD 48.8 million for the year ending March 31, 2024, compared to HKD 24.3 million for the year ending March 31, 2023[157]. Assets and Liabilities - Total non-current liabilities decreased from HKD 217.5 million in 2023 to HKD 170.0 million in 2024[15]. - Total equity increased from HKD 10.3 million in 2023 to HKD 17.8 million in 2024[17]. - The total non-current assets decreased from HKD 67.00 million in 2023 to HKD 51.01 million in 2024, indicating a decline of approximately 23.9%[31]. - The total current assets also saw a decrease from HKD 254.65 million in 2023 to HKD 227.49 million in 2024, representing a decline of about 10.7%[31]. - The group had no bank borrowings as of March 31, 2024, compared to HKD 841,000 in 2023, while other borrowings decreased to HKD 70,357,000 from HKD 90,861,000[87]. - Shareholder loans decreased to HKD 96,517,000 from HKD 118,941,000 year-on-year[87]. - The group reported a basic and diluted loss per share of HKD 90,417,000 for the year, compared to HKD 26,642,000 in the previous year[100]. Revenue Breakdown - Revenue from building construction services is HKD 1,534,000, a decrease from HKD 11,164,000 in the previous year[54]. - Revenue from renovation, extension, and repair works is HKD 56,445,000, down from HKD 81,777,000, indicating a decline of 30.9%[54]. - Revenue from the sale of consumer products increased significantly to HKD 18,054,000 from HKD 3,827,000, marking a growth of 371.5%[54]. - Revenue from property development and investment increased from approximately HKD 3.7 million to HKD 6.5 million due to improvements in the Japanese travel market[120]. - Revenue from renovation, addition, and repair works accounted for approximately HKD 56.4 million, a 46.4% increase from the previous year[120]. Cash Flow and Financial Position - As of March 31, 2024, the group's cash and cash equivalents amounted to HKD 9.72 million, while the total outstanding other borrowings and shareholder loans was approximately HKD 166.87 million, due for repayment after one year from the reporting date[38]. - The group held cash and bank balances of approximately HKD 9.7 million as of March 31, 2024, down from HKD 13.9 million as of March 31, 2023[153]. - The company has approximately HKD 88.7 million in expected revenue to be recognized from ongoing projects after March 31, 2024[109]. Strategic Focus and Market Position - The company is focused on developing and marketing smart consumer products in mainland China, indicating a strategy for market expansion[19]. - The group is primarily engaged in construction and engineering services in Hong Kong, focusing on building construction, renovation, and maintenance of historical buildings[108]. - The group has ongoing projects in various stages, including significant renovations and construction works scheduled to complete between 2022 and 2024[92]. - The company plans to expand its business scope as part of its future strategy[131]. Other Financial Information - The company does not recommend paying dividends for the year ending March 31, 2024, consistent with the previous year[60]. - The company has not issued any potentially dilutive ordinary shares as of March 31, 2024[61]. - The company did not incur any tax provision in Hong Kong for the year, consistent with the previous year, due to the absence of taxable profits[80]. - The group has no significant capital commitments as of March 31, 2024[156]. - There were no significant investments or major acquisitions or disposals during the year[155]. - The company has no significant foreign exchange risk as most of its income and expenses are denominated in HKD[132].

Financial Performance - For the six months ended September 30, 2023, revenue was approximately HKD 60.4 million, a decrease of 11.9% compared to approximately HKD 68.6 million for the same period in 2022[5]. - Gross profit for the same period was approximately HKD 6.7 million, up from approximately HKD 5.8 million in the previous year[5]. - Loss attributable to owners of the company for the six months ended September 30, 2023, was approximately HKD 14.4 million, an improvement from a loss of approximately HKD 18.5 million in the same period last year[5]. - Revenue decreased by 11.9% from approximately HKD 68.6 million for the six months ended September 30, 2022, to approximately HKD 60.4 million for the six months ended September 30, 2023[17]. - Revenue from construction and engineering business dropped from approximately HKD 67.9 million to approximately HKD 49.5 million during the same period[17]. - Revenue related to property development and investment increased from approximately HKD 0.8 million to approximately HKD 3.2 million due to improvements in the Japanese tourism market[17]. - For the six months ended September 30, 2023, the group recorded a loss before tax of approximately HKD 14.8 million, compared to a loss of HKD 18.5 million for the same period in 2022[21]. - The total comprehensive loss attributable to owners of the company for the period was HKD 18,937,000, compared to HKD 19,733,000 in the previous year[50]. - The company reported a loss before tax of HKD 18,525,000 for the six months ended September 30, 2023, compared to a loss of HKD 14,675,000 in the same period of 2022[69]. - The company reported a basic and diluted loss per share of HKD 0.015 (14,446,000 HKD) compared to a loss of HKD 0.019 (18,525,000 HKD) for the same period in 2022[89]. Revenue Segmentation - The company operates in three main segments: construction services, property development and investment, and consumer lifestyle products[8]. - The construction services segment reported revenue of HKD 1.2 million, accounting for 2.0% of total revenue, while renovation and building services generated HKD 28.2 million, representing 46.7% of total revenue[6]. - For the six months ended September 30, 2023, the total revenue from the construction and engineering services segment was HKD 49,512,000, while property development and investment generated HKD 3,247,000, and consumer products contributed HKD 7,687,000, totaling HKD 60,446,000[68]. - The construction and engineering services segment generated revenue of HKD 49,512,000, down 27% from HKD 67,863,000 in the previous year[72]. - Sales of lifestyle consumer products contributed HKD 7,687,000 in revenue, with all sales occurring in mainland China[72]. Expenses and Costs - Administrative expenses increased to approximately HKD 21.0 million from approximately HKD 13.7 million year-on-year[5]. - Sales and marketing expenses for the period were approximately HKD 17.0 million, all attributed to the newly acquired consumer products business[19]. - Cost of sales significantly reduced from approximately HKD 62.9 million to approximately HKD 53.7 million[18]. - The total employee costs for the six months ended September 30, 2023, were approximately HKD 16.8 million, an increase from HKD 13.0 million for the same period in 2022[31]. - The financial costs for the six months ended September 30, 2023, totaled HKD 5,105,000, an increase of 32.5% from HKD 3,850,000 in the same period of 2022[78]. Cash Flow and Financial Position - The group had cash and bank balances of approximately HKD 11.6 million as of September 30, 2023, down from HKD 13.9 million as of March 31, 2023[24]. - The current ratio improved to 2.8 as of September 30, 2023, compared to 2.7 as of March 31, 2023[24]. - The debt-to-capital ratio was 92% as of September 30, 2023, down from 95% as of March 31, 2023[24]. - The net cash used in operating activities for the six months was HKD 3,674,000, a decrease from HKD 12,788,000 in the previous year[57]. - The total cash and cash equivalents at the end of the period were HKD 11,602,000, an increase from HKD 7,363,000 year-over-year[57]. - As of September 30, 2023, the total interest-bearing borrowings amounted to approximately HKD 101.0 million, a decrease from HKD 121.2 million as of March 31, 2023[22]. - The company is currently negotiating new bank financing to support its operations and believes it can continue as a going concern[62]. Assets and Liabilities - The company's total assets as of September 30, 2023, were HKD 299,386,000, down from HKD 321,721,000 as of March 31, 2023[51]. - The net asset value of the company was HKD 15,554,000, an increase from HKD 10,257,000 at the end of the previous reporting period[53]. - Trade receivables as of September 30, 2023, amounted to HKD 13,431,000, an increase from HKD 11,826,000 as of March 31, 2023[91]. - The group reported trade payables of HKD 62,188,000 as of September 30, 2023, compared to HKD 56,906,000 as of March 31, 2023[92]. - Other borrowings increased to HKD 93,742,000 as of September 30, 2023, from HKD 90,861,000 as of March 31, 2023[94]. - The group’s total current assets were reported at HKD 30,783,000 as of September 30, 2023, compared to HKD 26,965,000 as of March 31, 2023[91]. Dividends and Shareholder Information - The company has not declared any interim dividend for the six months ended September 30, 2023[5]. - The company did not recommend the payment of dividends for the six months ended September 30, 2023, consistent with the previous year[85]. - The group’s total issued and paid-up capital remained at HKD 96,000,000, with 960,000,000 shares issued as of September 30, 2023[103]. Management and Governance - The company has established an audit committee consisting of three independent non-executive directors to oversee financial reporting[46]. - There were no significant management or administrative contracts established for the company's major business operations during the reporting period[37]. - The group incurred management fees of HKD 275,000 to the related company during the six months ended September 30, 2023, compared to HKD 73,000 in the same period of 2022[108]. - The total compensation paid to key management personnel was HKD 4,141,000 for the six months ended September 30, 2023, slightly down from HKD 4,198,000 in the previous year[112].

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，概不對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。 （前稱Milestone Builder Holdings Limited 進階發展集團有限公司） （於開曼群島註冊成立的有限公司） （股份代號：1667） 截 至 二 零 二 三 年 九 月 三 十 日 止 六 個 月 中 期 業 績 公 告 財務概要 • 截至二零二三年九月三十日止六個月的收益約為60.4百萬港元，較截至二零二二 年九月三十日止六個月的約68.6百萬港元減少11.9%。 • 截至二零二三年九月三十日止六個月的毛利約為6.7百萬港元（截至二零二二年 九月三十日止六個月：約5.8百萬港元）。 • 截 至 二 零 二 三 年 九 月 三 十 日 止 六 個 月 的 行 政 開 支 約 為21.0百 萬 港 元（截 至 二 零 二二年九月三十日止六個月：約13.7百萬港元）。 • 截至二零二三年九月三十日止六個月之本公司擁有人應佔虧損約為14.4百萬港 元（截至二零二二年九月三十日止六個月： ...

Financial Performance - Total revenue for the year ended March 31, 2023, was HKD 109,332,000, a decrease of 9.8% from HKD 120,521,000 in 2022[5] - The company reported a loss attributable to owners of HKD 26,642,000 for the year, compared to a loss of HKD 60,495,000 in the previous year, indicating a 55.9% improvement[5] - Revenue decreased by 9.3% from approximately HKD 120.5 million for the year ended March 31, 2022, to approximately HKD 109.3 million for the year ended March 31, 2023[30] - Gross profit increased from approximately HKD 2.4 million for the year ended March 31, 2022, to approximately HKD 6.6 million for the year ended March 31, 2023[31] - The company recorded a pre-tax loss of approximately HKD 26.7 million for the year ended March 31, 2023, compared to a pre-tax loss of approximately HKD 54.6 million for the year ended March 31, 2022[35] - The net loss attributable to owners of the company was HKD 26,642,000, down from HKD 60,495,000 in the previous year, showing a significant reduction in annual losses[195] - The company reported a basic and diluted loss per share of HKD 2.78, an improvement from HKD 6.30 in the previous year[195] Assets and Liabilities - Total assets as of March 31, 2023, were HKD 321,646,000, a slight increase from HKD 313,528,000 in 2022[5] - The total liabilities increased to HKD 311,389,000 in 2023 from HKD 282,017,000 in 2022, reflecting a 10.4% rise[5] - The net asset value decreased to HKD 10,257,000 in 2023 from HKD 31,511,000 in 2022, a decline of 67.5%[5] - Total non-current assets increased to HKD 67,001,000 from HKD 59,421,000, indicating growth in long-term asset investments[197] - Current assets remained stable at HKD 254,645,000, slightly up from HKD 254,107,000, reflecting consistent liquidity[197] - The company's equity decreased to HKD 10,257,000 from HKD 31,511,000, reflecting a decline in net assets[200] Revenue Breakdown - Revenue from building construction services increased by 10.2% to HKD 11,164,000, compared to HKD 10,134,000 in the previous year[21] - Revenue from renovation, addition, and alteration works accounted for 74.9% of total revenue, totaling HKD 81,777,000, down from 84.3% and HKD 101,535,000 in the previous year[21] - Revenue from property development and investment increased significantly from approximately HKD 1.08 million to approximately HKD 3.66 million due to improvements in the Japanese tourism market[30] - The expected total revenue from ongoing projects as of March 31, 2023, is approximately HKD 118.4 million[21] - The group recognized revenue of HKD 101,843,000 from construction and engineering services for the year ended March 31, 2023[178] Strategic Initiatives - The company is focusing on developing suitable real estate projects in Hong Kong or Southeast Asia as part of its property development and investment strategy[15] - The company plans to continue expanding its business through new projects and strategic initiatives[20] - The company aims to leverage future opportunities to overcome challenges and maintain competitiveness in the market[17] - The company is engaged in property development and investment primarily in Hong Kong and Japan, and in marketing consumer products in China[22] Corporate Governance - The board believes that the economic stimulus measures implemented by the Hong Kong government will help mitigate adverse macroeconomic impacts[39] - The board emphasizes the importance of corporate governance and has adopted the principles and code provisions of the Corporate Governance Code as per the Hong Kong Stock Exchange[64] - As of March 31, 2023, the company has complied with the principles and code provisions of the Corporate Governance Code[65] - The board is responsible for safeguarding and enhancing shareholder value and overseeing the management, business, strategy, and financial performance of the group[70] - The company has established several board committees, including the audit, remuneration, and nomination committees, each with specific written terms of reference[79] Risk Management - The board's risk management and internal control systems are designed to manage risks rather than eliminate them, providing reasonable assurance of achieving business objectives[91] - The audit committee is responsible for reviewing the effectiveness of risk management and internal control systems annually and reporting significant matters to the board[93] - The company has identified risks related to fraud and errors that could lead to significant misstatements in financial reporting, emphasizing the importance of internal controls[194] Employee and Administrative Expenses - The company reported an increase in employee count to 98 as of March 31, 2023, up from 57 a year earlier, primarily due to the acquisition of a subsidiary[43] - Employee costs for the year ended March 31, 2023, were approximately HKD 24.3 million, a decrease from HKD 32.3 million for the previous year[43] - The company’s administrative expenses decreased from approximately HKD 33.2 million for the year ended March 31, 2022, to approximately HKD 29.9 million for the year ended March 31, 2023[33] Compliance and Auditing - The independent auditor has confirmed that the consolidated financial statements reflect the group's financial position accurately as of March 31, 2023[174] - The audit committee has reviewed the accounting principles and policies adopted by the group for the fiscal year ending March 31, 2023[171] - The auditor's report provides reasonable assurance that the financial statements are free from material misstatement due to fraud or error[188] Environmental and Quality Management - The group has obtained ISO 14001:2015 certification for its environmental management system, ensuring compliance with environmental regulations[158] - The company has established a Quality Management System (QMS) certified to ISO 9001 standards to ensure service quality[153] - The group has implemented measures to control air pollution, including monitoring vehicle leaks and prohibiting high-emission machinery[158] - Waste disposal practices include using designated containers for controlled waste and conducting regular inspections of waste bins[160]

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，概不對因本公告全部或任何部份內 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。 （前稱Milestone Builder Holdings Limited 進階發展集團有限公司） （於開曼群島註冊成立的有限公司） （股份代號：1667） 截 至 二 零 二 三 年 三 月 三 十 一 日 止 年 度 全 年 業 績 公 告 業績摘要 • 截至二零二三年三月三十一日止年度的收益約為109.3百萬港元，較截至二零二二 年三月三十一日止年度的約120.5百萬港元減少9.3%。 • 截至二零二三年三月三十一日止年度的毛利約為6.6百萬港元（二零二二年三月 三十一日：約2.4百萬港元）。 • 截至二零二三年三月三十一日止年度的行政開支約為29.9百萬港元（二零二二年 三月三十一日：約33.2百萬港元）。 • 本公司擁有人應佔年度虧損約為26.6百萬港元（二零二二年三月三十一日：約60.5 百萬港元）。 ...

Financial Performance - Revenue for the six months ended September 30, 2022, was approximately HKD 68.6 million, an increase of 3.2% compared to HKD 66.5 million for the same period in 2021[5] - Gross profit for the six months ended September 30, 2022, was approximately HKD 5.8 million, compared to HKD 0.4 million for the same period in 2021[5] - Loss attributable to owners of the company for the six months ended September 30, 2022, was approximately HKD 18.5 million, a decrease from HKD 36.2 million for the same period in 2021[5] - Revenue increased by 3.2% from approximately HKD 66.5 million for the six months ended September 30, 2021, to HKD 68.6 million for the six months ended September 30, 2022[26] - Gross profit for the six months ended September 30, 2022, was approximately HKD 5.8 million, a significant increase from HKD 0.4 million for the same period in 2021, due to a reduction in costs from HKD 66.2 million to HKD 62.9 million[28] - The company recorded a loss before tax of approximately HKD 18.5 million for the six months ended September 30, 2022, an improvement from a loss of HKD 36.2 million for the same period in 2021[30] - The group recorded a total segment LBITDA of HKD (12,797,000) for the six months ended September 30, 2022, compared to HKD (28,275,000) for the same period in 2021, indicating an improvement in operational performance[93] - The total loss attributable to the owners of the company for the period was HKD (18,525,000), compared to a loss of HKD (36,153,000) in the previous year, showing a reduction in losses by approximately 48.7%[93] Revenue Breakdown - Total revenue breakdown by service category for the six months ended September 30, 2022, included building construction services at HKD 8.0 million (11.6%), renovation and building services at HKD 54.2 million (79.0%), maintenance of historical buildings at HKD 5.7 million (8.3%), and property development and investment at HKD 0.8 million (1.1%)[10] - The construction and engineering services segment generated revenue of HKD 67,863,000, compared to HKD 65,919,000 in the previous year, reflecting an increase of about 2.8%[93] - The property development and investment segment reported revenue of HKD 775,000, up from HKD 589,000, marking a growth of approximately 31.6%[93] - Revenue from renovation, addition, and alteration works was HKD 54,190,000, slightly down from HKD 55,493,000, indicating a decrease of about 2.4%[97] Expenses and Costs - Administrative expenses for the six months ended September 30, 2022, were approximately HKD 13.7 million, down from HKD 16.4 million for the same period in 2021[5] - Total employee costs for the six months ended September 30, 2022, were approximately HKD 13.0 million, down from HKD 20.7 million for the same period last year[45] - Financial costs decreased to HKD 3,850,000 for the six months ended September 30, 2022, down 34% from HKD 5,861,000 in the same period of 2021[104] Cash Flow and Liquidity - The company had cash and bank balances of approximately HKD 7.4 million as of September 30, 2022, down from HKD 10.2 million as of March 31, 2022[34] - For the six months ended September 30, 2022, the net cash flow used in operating activities was HKD (12,788) thousand, compared to HKD (26,355) thousand for the same period in 2021, representing a 51.5% improvement[76] - Cash and cash equivalents at the end of the period were HKD 7,363 thousand, down from HKD 12,642 thousand in the previous year, indicating a decrease of 41.7%[76] - The total cash and cash equivalents decreased by HKD 9,985 thousand during the period, compared to a decrease of HKD 4,632 thousand in the previous year, reflecting a worsening cash position[76] Debt and Borrowings - As of September 30, 2022, total interest-bearing borrowings amounted to approximately HKD 115.2 million, up from HKD 106.6 million as of March 31, 2022[31] - Loans from a shareholder increased to HKD 107,624,000 as of September 30, 2022, from HKD 89,436,000 as of March 31, 2022, reflecting an increase of approximately 20.3%[143] - The company's total liabilities as of September 30, 2022, were HKD 70,614,000, up from HKD 68,209,000 as of March 31, 2022, indicating a growth of about 3.5%[133] Governance and Compliance - The company has established an audit committee consisting of three independent non-executive directors to oversee financial reporting[63] - The company is focused on enhancing its governance practices in line with the corporate governance code[61] - There were no reported violations of the company's securities trading guidelines by employees during the period[62] Impact of COVID-19 - The ongoing COVID-19 pandemic has significantly impacted the company's business performance and operating environment, leading to increased uncertainty[24] - The company has implemented emergency measures to address the challenges posed by the pandemic[24] Future Outlook and Strategy - The company continues to focus on its core business areas, including building construction, renovation, and property development, while managing its administrative costs effectively[8] - The company plans to maintain competitiveness through low-risk bidding strategies, strict cost control, expanding the customer base, and broadening service offerings[37] Shareholder Information - The company has not declared any interim dividend for the six months ended September 30, 2022[6] - The board has resolved not to declare any interim dividend for the six months ended September 30, 2022[57] - The group did not declare any dividends for the six months ended September 30, 2022, consistent with the previous year[113]

Financial Performance - Total revenue for the year ended March 31, 2022, was HKD 120,521,000, a decrease from HKD 122,852,000 in the previous year, representing a decline of 1.8%[11] - The company reported a loss attributable to owners of HKD 60,495,000 for the year, compared to a loss of HKD 52,810,000 in the previous year, indicating an increase in losses of 14.4%[11] - Total assets as of March 31, 2022, were HKD 313,528,000, down from HKD 405,111,000 in the previous year, reflecting a decrease of 22.6%[11] - Total liabilities decreased to HKD 282,017,000 from HKD 313,229,000, a reduction of 10%[11] - The net asset value of the company was HKD 31,511,000, significantly lower than HKD 91,882,000 in the previous year, representing a decline of 65.7%[11] - The gross loss for the group was approximately HKD 2.4 million for the year ended March 31, 2022, compared to a gross loss of approximately HKD 16.9 million for the year ended March 31, 2021[50] - The pre-tax loss for the group was approximately HKD 54.6 million for the year ended March 31, 2022, compared to approximately HKD 52.5 million for the year ended March 31, 2021[57] - The company reported a loss of approximately HKD 12.4 million as of March 31, 2022, compared to a loss of HKD 4.1 million as of March 31, 2021[155] Revenue Breakdown - Revenue from building construction services was HKD 10,134,000, down from HKD 10,493,000, a decrease of 3.4%[11] - Revenue from renovation, extension, and decoration works was HKD 101,535,000, an increase of 6.3% from HKD 95,331,000 in the previous year[11] - Revenue from property development and investment rose to HKD 1,079,000 from HKD 644,000, marking a growth of 67.6%[11] - The construction services segment generated revenue of HKD 10,134,000, accounting for 8.4% of total revenue, while the renovation and alteration services segment contributed HKD 101,535,000, representing 84.3%[26] Market Strategy and Focus - The company is focusing on expanding its market presence and exploring new strategies for growth[14] - The company is focusing on property development and investment, particularly in Hong Kong and Southeast Asia, to increase its business share in this segment[17] - The company plans to adopt a low-risk bidding strategy and strict cost control measures to maintain competitiveness[18] - The company believes in the long-term growth of Japan's tourism industry despite the impact of COVID-19, anticipating a rebound in tourist numbers once travel restrictions are lifted[15] - The company is committed to monitoring market developments in Hong Kong and Japan and will flexibly reallocate resources to seize opportunities[19] Projects and Operations - The company has ongoing projects with expected revenue recognition of approximately HKD 98.5 million after March 31, 2022[27] - The company has a total of 2, 26, and 4 ongoing projects in building construction, renovation, and historical building restoration, respectively[26] - The company has ongoing projects with contract amounts exceeding HKD 3 million, including residential developments and renovations scheduled from 2018 to 2022[36] - The company has completed significant contracts valued at HKD 3 million or more, including various renovation and construction projects[28] - The company is involved in the renovation of a nursing home in Kwun Tong, expected to be completed by December 2021[36] - The company has a project for the restoration of a historical temple in Happy Valley, which started in August 2020 and is expected to finish by August 2021[36] - The company has a project for the renovation of public toilets in Tsuen Wan, scheduled from August 2021 to March 2022[36] Corporate Governance - The company has adopted the principles and code provisions of the Corporate Governance Code as of March 31, 2022[89] - The board has confirmed compliance with the standard code for securities transactions by all directors for the fiscal year ending March 31, 2022[90] - The company has established written guidelines regarding employee trading of company securities, which are not less stringent than the standard code[91] - The board emphasizes the importance of corporate transparency and accountability in achieving better performance and enhancing corporate image[88] - The company has a diverse board with members holding significant experience in finance, accounting, and corporate governance[78][84] - The board includes independent non-executive directors who participate in major decision-making processes[79] - The company has implemented effective corporate governance procedures to lead the group towards better performance[88] - The board's governance practices are aligned with corporate governance codes, ensuring transparency and accountability in decision-making[110] Financial Management - The total interest-bearing borrowings amounted to approximately HKD 106.6 million as of March 31, 2022, compared to approximately HKD 98.9 million as of March 31, 2021[58] - The group’s capital debt ratio increased to 86% as of March 31, 2022, compared to 68% as of March 31, 2021[58] - The company currently has a capital debt ratio and liquidity ratio that are calculated based on net debt and total capital, ensuring sufficient operational funds for future needs[60] - The company has reduced its workforce to 57 employees as of March 31, 2022, down from 98 employees as of March 31, 2021, primarily due to the completion of major projects[63] - The company has implemented strict cost control measures to navigate external and local factors affecting economic performance[63] Shareholder Relations - The group emphasizes shareholder rights and encourages participation in shareholder meetings, allowing shareholders holding at least 10% of the paid-up capital to request special meetings[134] - The company is committed to effective communication with shareholders and provides extensive information on its website[135] - The board will review the dividend policy periodically, considering factors such as operational performance, cash flow, and future prospects[148] - The board did not recommend any dividends for the year ending March 31, 2022, consistent with the previous year[144] Environmental Compliance - The total compliance cost for environmental regulations applicable in Hong Kong for the year ended March 31, 2022, was approximately HKD 473,000, a decrease from HKD 814,000 for the year ended March 31, 2021[197] - The company has obtained ISO 14001:2015 certification for its environmental management system, ensuring adherence to environmental protection regulations[197] - The company has implemented measures to control air pollution, including monitoring vehicle leaks and prohibiting high-emission machinery on construction sites[197] - Waste disposal practices include using general-purpose disposal containers for controlled waste and conducting regular safety and environmental inspections[197] Related Party Transactions - Significant related party transactions for the year ended March 31, 2022, are detailed in the financial statements[200]

Revenue and Profitability - Revenue increased by 1.7% from approximately HK$65.4 million for the six months ended September 30, 2020, to approximately HK$66.5 million for the six months ended September 30, 2021[6]. - Gross profit for the six months ended September 30, 2021, was approximately HK$0.4 million, compared to a gross loss of approximately HK$20.8 million for the same period in 2020[6]. - Total revenue for the six months ended September 30, 2021, was HK$66.5 million, with building construction services contributing 8.4%, renovation and building services 83.4%, maintenance and restoration of historical buildings 7.3%, and property development and investment 0.9%[10]. - The group reported revenue of HKD 66,508,000 for the six months ended September 30, 2021, representing an increase of 1.67% compared to HKD 65,417,000 for the same period in 2020[77]. - The construction and engineering services segment generated revenue of HKD 65,919 thousand, while the property development and investment segment contributed HKD 589 thousand[99]. - Total customer contract revenue for the period was HKD 66,508,000, slightly up from HKD 65,417,000 in the previous year, indicating a marginal increase of 1.7%[111]. Expenses and Losses - Administrative expenses for the six months ended September 30, 2021, were approximately HK$16.4 million, up from approximately HK$15.3 million for the same period in 2020[6]. - Loss attributable to owners of the company was approximately HK$36.2 million for the six months ended September 30, 2021, compared to a loss of approximately HK$39.9 million for the same period in 2020[6]. - The group recorded a loss before tax of approximately HKD 36.2 million for the six months ended September 30, 2021, an improvement from a loss of HKD 39.9 million for the same period in 2020[39]. - The company reported a total comprehensive loss of HKD (36,674,000) for the six months ended September 30, 2021, compared to a loss of HKD (39,892,000) for the same period in 2020, indicating a slight improvement[84]. - The net loss attributable to the company's owners for the period was HKD 36,153 thousand, compared to a loss of HKD 39,892 thousand in the previous year, reflecting a reduction in losses[99][101]. Financial Position and Ratios - As of September 30, 2021, total interest-bearing borrowings amounted to approximately HKD 103.7 million, up from HKD 98.9 million as of March 31, 2021[41]. - The current ratio decreased to 1.6 as of September 30, 2021, from 2.0 as of March 31, 2021, while the debt-to-equity ratio increased to 79% from 68%[43]. - The company's net asset value decreased to HKD 55,208,000 as of September 30, 2021, down from HKD 91,882,000 as of March 31, 2021, indicating a decline of about 40%[84]. - The total equity attributable to the owners of the company was HKD 55,208,000 as of September 30, 2021, compared to HKD 91,882,000 as of March 31, 2021, reflecting a decrease of approximately 40%[84]. - The group’s total liabilities decreased from HKD 151,792,000 to HKD 123,627,000, indicating a reduction of approximately 18.5%[144]. Cash Flow and Financing - Cash used in operating activities was HKD (26,355,000) for the six months ended September 30, 2021, an improvement from HKD (38,261,000) for the same period in 2020, showing a reduction of about 31%[86]. - Cash inflow from investing activities was HKD 23,268,000 for the six months ended September 30, 2021, compared to an outflow of HKD (11,549,000) for the same period in 2020, indicating a significant turnaround[86]. - The company’s cash flow from financing activities showed a net outflow of HKD (1,545,000) for the six months ended September 30, 2021, compared to an inflow of HKD 56,099,000 for the same period in 2020, reflecting a significant change in financing strategy[86]. - The group issued 160,000,000 new ordinary shares at a price of HKD 0.125 per share, raising a total of HKD 20 million before expenses[156]. Impact of COVID-19 - The COVID-19 pandemic has created significant challenges for the global economy, leading to a deep recession in Hong Kong and a reduction in overall investment expenditure[35]. - The company has implemented emergency measures to address the uncertainties in its operating and financial conditions due to the pandemic[35]. - The company is actively monitoring the impact of the pandemic on its business and has adapted its strategies accordingly[35]. - The group has adopted new accounting standards related to COVID-19 rent concessions, which did not have any impact on the financial position or performance of the group[94]. - The group has implemented a practical expedient for lease accounting related to COVID-19, allowing for rent concessions without significant changes to lease terms[94]. Projects and Future Revenue - The expected total revenue from ongoing projects as of September 30, 2021, is approximately HK$110.4 million[11]. - The company has 2 ongoing projects in building construction services, 25 in renovation and building services, and 2 in maintenance and restoration of historical buildings as of September 30, 2021[10]. - Ongoing projects with a contract amount exceeding HK$3 million include residential developments and improvement projects, with expected project durations from September 2018 to April 2022[14]. - The expected revenue to be recognized within one year from remaining performance obligations is HKD 110,391,000, a substantial rise from HKD 18,539,000 in the previous year, marking an increase of 495.5%[109]. Management and Governance - The group has established an audit committee composed of three independent non-executive directors to oversee financial reporting[74]. - There were no significant management or administrative contracts related to the group's business during the reporting period[64]. - The total remuneration for key management personnel was HKD 4,056,000 for the six months ended September 30, 2021, a slight decrease of 3.1% from HKD 4,187,000 for the same period in 2020[164].

Financial Performance - Total revenue for the year ended March 31, 2021, was HKD 122.85 million, a decrease of 52.8% compared to HKD 260.95 million in 2020[12]. - The company reported a loss attributable to owners of HKD 52.81 million for the year, compared to a loss of HKD 17.04 million in the previous year[12]. - The gross loss for the year ended March 31, 2021, was approximately HKD 16.9 million, compared to a gross profit of approximately HKD 22.3 million for the previous year[53]. - The pre-tax loss attributable to the owners of the company was approximately HKD 52.5 million for the year ended March 31, 2021, compared to approximately HKD 16.9 million for the year ended March 31, 2020[51]. - The company reported a revenue decrease of 52.9%, from approximately HKD 261.0 million for the year ended March 31, 2020, to approximately HKD 122.9 million for the year ended March 31, 2021[52]. - The company reported a loss of approximately HKD 4.1 million as of March 31, 2021, compared to a distributable reserve of HKD 69.5 million as of March 31, 2020[154]. Assets and Liabilities - Total assets as of March 31, 2021, were HKD 405.11 million, an increase from HKD 392.95 million in 2020[12]. - Total liabilities increased to HKD 313.23 million from HKD 267.98 million in the previous year[12]. - The net asset value decreased to HKD 91.88 million from HKD 124.97 million in 2020[12]. - As of March 31, 2021, the total interest-bearing borrowings amounted to approximately HKD 98.9 million, down from approximately HKD 108.1 million as of March 31, 2020[60]. - The current ratio improved to 1.6 as of March 31, 2021, compared to 1.4 as of March 31, 2020[62]. - The debt-to-capital ratio increased to 68% as of March 31, 2021, from 44% as of March 31, 2020[62]. Revenue Breakdown - Revenue from building construction services was HKD 10.49 million, a significant drop from HKD 84.83 million in 2020[12]. - Revenue from renovation, addition, and alteration works was HKD 95.33 million, down from HKD 240.10 million in the previous year[12]. - The construction services segment generated revenue of HKD 10.49 million, accounting for 8.5% of total revenue, compared to HKD 8.48 million (3.3%) in the previous year[27]. - The renovation and addition services segment saw a significant decline in revenue to HKD 95.33 million (77.6%) from HKD 240.10 million (92.0%) in the previous year[27]. - The maintenance and restoration of historical buildings segment reported revenue of HKD 16.38 million, representing 13.4% of total revenue, up from HKD 12.15 million (4.6%) in the previous year[27]. Strategic Focus and Future Outlook - The company is focusing on expanding its market presence and exploring new strategies for growth[16]. - Future outlook includes potential new product developments and technological advancements to enhance service offerings[16]. - The company aims to improve operational efficiency and reduce costs in response to the challenging market conditions[16]. - The company plans to focus on property development and investment, particularly in Hong Kong and Southeast Asia, to increase its business share in this segment[18]. - The company has identified opportunities for property development in Japan, despite the impact of COVID-19 on the tourism industry[18]. - The company is closely monitoring market developments in Hong Kong and Japan to seize business opportunities[22]. Corporate Governance - The company has adopted the corporate governance code principles and has complied with the relevant provisions, except for a deviation regarding the separation of roles of Chairman and CEO[91]. - The board consists of a balanced mix of executive and independent non-executive directors, ensuring diverse skills and experience[97]. - The company has established a clear understanding of the roles and responsibilities of directors under the listing rules and statutory requirements[103]. - The board of directors has established several committees, including the Audit Committee, Remuneration Committee, and Nomination Committee, to oversee specific areas of the company's affairs[105]. - The Audit Committee held two meetings to review the financial performance and reports for the year ending March 31, 2021, including significant matters related to financial reporting and internal controls[111]. Employee and Human Resources - The company reported a decrease in employee count to 98 as of March 31, 2021, down from 127 a year earlier, primarily due to project completions[72]. - Employee costs for the year amounted to approximately HKD 48.3 million, a decrease from HKD 61.0 million the previous year[72]. - The group provides attractive compensation packages to employees, including basic salary, bonuses, and other cash allowances[190]. - The group continuously evaluates its human resources to determine the need for additional personnel to support business development[193]. Compliance and Risk Management - The company has established internal control guidelines to ensure reliable financial reporting and operational efficiency[124]. - The board is responsible for maintaining adequate risk management and internal control systems to protect shareholder investments and group assets[124]. - The group has not experienced any significant issues or violations of applicable labor laws and regulations in Hong Kong during the year[190]. - Independent non-executive directors confirmed that related party transactions were fair and reasonable, aligning with the interests of the company and its shareholders[199]. Market and Customer Relations - The top five customers accounted for approximately 48.0% of the total revenue for the year ended March 31, 2021, down from 69.7% in the previous year[185]. - The largest customer represented about 15.5% of total revenue, compared to 27.7% in the previous year[185]. - The group maintained good relationships with suppliers and subcontractors, avoiding significant shortages or delays in construction materials[189]. Environmental Compliance - The total compliance cost related to environmental regulations for the year ending March 31, 2021, was approximately HKD 814,000, an increase from HKD 656,000 in the previous year[194]. - The group has achieved ISO 14001:2015 certification for its environmental management system, ensuring adherence to environmental protection regulations[194].