Financial Performance - Revenue for the six months ended June 30, 2020, was HKD 209,102,000, representing a 67% increase from HKD 125,092,000 in the same period of 2019[5]. - Gross profit for the same period was HKD 75,721,000, up from HKD 43,191,000, indicating a gross margin improvement[5]. - Operating profit increased to HKD 52,983,000, compared to HKD 26,121,000 in 2019, reflecting a significant growth of 102%[5]. - Net profit for the period was HKD 45,473,000, which is an increase of 82% from HKD 24,935,000 in the previous year[5]. - Basic earnings per share rose to HKD 0.0642, compared to HKD 0.0356 in the same period last year, marking an increase of 80%[8]. - The company reported a total comprehensive income of HKD 37,448,000 for the period, compared to HKD 23,067,000 in 2019, indicating a 62% increase[8]. - The company’s operating income for the six months ended June 30, 2020, was HKD 31,530 thousand, compared to HKD 46,762 thousand in the same period of 2019, reflecting a decline of 32.5%[25]. - The company’s profit attributable to owners for the six months ended June 30, 2020, was HKD 45,029,000, compared to HKD 24,740,000 for the same period in 2019, representing an increase of 82%[94]. - Basic earnings per share for the six months ended June 30, 2020, was HKD 0.0642, up from HKD 0.0356 in 2019, reflecting a growth of 80.6%[94]. - Diluted earnings per share for the six months ended June 30, 2020, was HKD 0.0641, compared to HKD 0.0347 in 2019, indicating an increase of 84.5%[98]. Assets and Liabilities - Total assets as of June 30, 2020, amounted to HKD 576,499,000, up from HKD 529,855,000 at the end of 2019[18]. - Total equity attributable to owners of the company increased to HKD 401,978,000 from HKD 383,105,000, reflecting a growth of 5%[18]. - The company’s liabilities increased to HKD 207,404 thousand as of June 30, 2020, from HKD 195,012 thousand in the previous year, representing a rise of 6.7%[22]. - Trade receivables as of June 30, 2020, amounted to HKD 208,321,000, compared to HKD 156,260,000 as of December 31, 2019, representing a growth of 33.4%[108]. - The group reported total liabilities of HKD 174,521 as of June 30, 2020, compared to HKD 146,750 as of December 31, 2019, indicating an increase of 18.9%[70]. Cash Flow and Investments - The company’s cash and cash equivalents were HKD 138,983,000, down from HKD 159,942,000 at the end of 2019[18]. - The net cash generated from operating activities for the six months ended June 30, 2020, was HKD 23,902 thousand, down 37.5% from HKD 38,426 thousand in 2019[25]. - The company reported a net cash outflow from investing activities of HKD 19,535 thousand for the six months ended June 30, 2020, compared to a net inflow of HKD 22,879 thousand in 2019[25]. - The group’s total cash and restricted cash balance was HKD 185,260,000, a decrease from HKD 200,700,000 as of December 31, 2019[157]. - The group had no borrowings as of June 30, 2020, maintaining a capital structure with no debt[158]. Revenue Breakdown - The group’s total revenue for the six months ended June 30, 2020, was HKD 209.1 million, with the cigarette packaging business contributing HKD 114.8 million and the environmental management business contributing HKD 94.3 million[53]. - Sales of cigarette packaging products reached HKD 114,818, up from HKD 104,806, representing a growth of 9.6%[73]. - The environmental governance business recorded revenue of approximately HKD 94.3 million, a significant increase of 365% from HKD 20.3 million in the same period of 2019[147]. - The cost of goods sold for the six months ended June 30, 2020, was HKD 67,739, up from HKD 59,823, representing an increase of 13.9%[80]. Operational Highlights - The company continues to focus on the production and sales of cigarette packaging materials and environmental governance and ecological restoration businesses in China[30]. - The impact of the COVID-19 pandemic on the group's financial condition and operating performance was deemed not significant, as operations resumed in late March 2020[50]. - The group has established appropriate policies to ensure sales are made to customers with a sound credit background, conducting regular credit assessments[40]. - The group has made sufficient provisions for receivables after assessing the recoverability of debts, indicating a low risk level[40]. Dividends and Shareholder Information - The company paid dividends amounting to HKD 28,057 thousand during the six months ended June 30, 2020[25]. - The board has declared an interim dividend of HKD 0.04 per share, consistent with the previous year's total of HKD 0.04 per share[179]. - As of June 30, 2020, Mr. Zheng Yisheng holds 450,000,000 shares, representing 64.15% of the company's equity[187]. - The total number of shares held by major shareholders, including SXD Limited, is 450,000,000, which constitutes 64.15% of the total issued share capital[192]. Risk Management and Internal Controls - The company has established sufficient risk management procedures to identify and control various risks in line with the best interests of the group and its shareholders[184]. - The company has maintained effective internal control procedures to manage risks associated with both internal and external environments[184].

Financial Performance - For the nine-month period ending December 31, 2019, the total revenue was approximately HKD 313,466,000, with a profit attributable to the owners of approximately HKD 81,442,000, representing a growth of 20% and 45% respectively compared to the previous fiscal year[11]. - The group recorded total revenue of approximately HKD 313,470,000 for the nine months ended December 31, 2019, an increase of about HKD 51,280,000 or 20% compared to HKD 262,190,000 for the fiscal year ended March 31, 2019[19]. - The net profit attributable to the company's owners was approximately HKD 81,440,000, an increase of about HKD 25,140,000 or 45% compared to HKD 56,300,000 in the previous fiscal year[31]. - The overall gross profit was approximately HKD 126,360,000, up from HKD 92,170,000 in the previous fiscal year, with a gross profit margin increasing from 35% to 40%[25]. - Revenue from the cigarette packaging business was approximately HKD 163,330,000, a decrease of HKD 53,200,000 or 25% from HKD 216,530,000 in the previous fiscal year, while the environmental management business generated revenue of approximately HKD 150,140,000, an increase of HKD 104,480,000 or 229%[20][21]. Business Operations - The cigarette packaging business maintained a single-digit percentage growth compared to the same period last year, while the environmental governance business showed significant growth, laying a solid foundation for sustainable development[11]. - The company aims to leverage the increasing demand for water environment governance, as the first phase of the water pollution prevention plan requires cities to control black and odorous water bodies to within 10%[16]. - The company is committed to completing projects on time and with quality, while actively exploring new projects to provide medium to long-term returns[16]. - The environmental governance market is expected to have significant growth potential over the next decade, presenting both opportunities and challenges for the company[16]. - The environmental management business projects have entered the final stages of construction, significantly improving water quality and establishing demonstration points for water environment management[21]. Risk Management and Governance - The company has focused on risk control and management to address significant risks that may adversely affect its business[74]. - The group has adopted financial risk management policies to control tax, currency, and financial reporting risks, with monthly monitoring of financial performance and key operational data by the board[76]. - The group has implemented internal procedures to manage compliance risks, ensuring adherence to local laws and regulations, and regularly engages consultants to stay updated on regulatory developments[77]. - The company has established a robust risk management and internal control system to safeguard shareholder interests and asset value[180]. - No significant irregularities or deficiencies were found in the internal control system during the annual compliance review[181]. Shareholder and Dividend Information - The group proposed a final dividend of HKD 0.04 per ordinary share for the nine months ended December 31, 2019, compared to HKD 0.03 per ordinary share in the previous fiscal year[34]. - The company maintains a dividend policy to distribute at least 35% of consolidated distributable profits as dividends[182]. - The board will regularly review the dividend policy based on various factors, including financial performance and future cash needs[182]. Corporate Governance - The company has a commitment to maintaining transparency and governance through its audit and remuneration committees[60]. - The company adhered to the corporate governance code as per the listing rules, with exceptions noted in specific clauses[130]. - The independent auditor for the consolidated financial statements for the nine months ending December 31, 2019, was PwC, which is eligible for reappointment[131]. - The board held eight meetings and one annual general meeting during the nine months ending December 31, 2019, with attendance rates for directors ranging from 2/7 to 8/8[153]. - The company encourages shareholder participation in annual general meetings to facilitate communication with the board[188]. Environmental Commitment - The company is committed to environmental protection and sustainable development while pursuing product quality and service excellence[193]. - The report covers the period from April 1, 2019, to December 31, 2019, detailing the company's environmental, social, and governance management policies[197]. - The company aims to enhance its market presence in the environmental governance sector through innovative solutions[198]. - The company is focused on sustainability and aims to align its operations with environmental regulations and standards[198]. - User data indicates a growing demand for eco-friendly packaging solutions, which the company plans to capitalize on[198]. Employee and Management Information - The total employee compensation during the reporting period was HKD 27,820,000, compared to HKD 29,140,000 in the previous fiscal year[49]. - The company has a strong management team with over 20 years of experience in various fields, including finance and business management[61][62]. - The company encourages continuous professional development for directors, with records of participation in training courses maintained[148]. - The company has established appropriate liability insurance for directors and senior management, which is reviewed annually[139]. - The company has a stock option plan in place to incentivize and retain key personnel, effective for ten years from November 13, 2013[106].

Financial Performance - Revenue for the six months ended September 30, 2019, was HKD 211,184,000, representing an increase of 89.8% compared to HKD 111,383,000 in the same period of 2018[7] - Gross profit for the same period was HKD 85,365,000, up 108.0% from HKD 41,014,000 year-on-year[7] - Operating profit increased to HKD 60,792,000, a significant rise of 150.0% compared to HKD 24,251,000 in the previous year[7] - Net profit for the period was HKD 52,871,000, which is a 141.4% increase from HKD 21,870,000 in the prior year[7] - The company reported a total comprehensive income of HKD 33,005,000, compared to a loss of HKD 9,172,000 in the previous year[10] - The company reported a net profit of HKD 52,871,000 for the same period, after tax expenses of HKD 12,526,000[80] - The profit attributable to the company's owners for the six months ended September 30, 2019, was HKD 52,963,000, compared to HKD 23,060,000 for the same period in 2018, representing an increase of 129%[119] - The basic earnings per share for the six months ended September 30, 2019, was HKD 7.63, up from HKD 3.38 in 2018, reflecting a growth of 126%[119] - The diluted earnings per share for the six months ended September 30, 2019, was HKD 7.45, compared to HKD 3.28 in 2018, indicating a rise of 127%[123] Assets and Liabilities - Total assets as of September 30, 2019, amounted to HKD 507,369,000, compared to HKD 484,883,000 as of March 31, 2019[18] - The company's equity attributable to owners was HKD 384,179,000, an increase from HKD 372,136,000[18] - The total liabilities of the group were HKD 127,774,000, with segment liabilities of HKD 71,675,000 from the cigarette packaging business and HKD 117,761,000 from the environmental management business[90] - The total trade receivables as of September 30, 2019, amounted to HKD 77,852,000, up from HKD 76,473,000 as of March 31, 2019[135] Cash Flow - The net cash generated from operating activities was HKD 13,966, significantly up from HKD 5,000 in the same period last year[26] - The company reported cash generated from operating activities of HKD 22,364,000 for the reporting period, compared to HKD 11,701,000 in the same period last year[175] - The company recorded a net increase in cash and cash equivalents of HKD 11,275, compared to HKD 20,213 in the previous year[29] - Cash and cash equivalents totaled HKD 220,874,000 as of September 30, 2019, slightly down from HKD 224,523,000 as of March 31, 2019, reflecting a decrease of 1.5%[147] Market and Business Strategy - The company plans to continue expanding its market presence and investing in new product development to sustain growth[19] - The group generated 93.8% of its revenue from three major customers, with Customer A contributing 47.4%, Customer B 34.0%, and Customer C 12.4%[103] Expenses - The cost of sales, distribution costs, and administrative expenses totaled HKD 155,193,000 for the six months ended September 30, 2019, compared to HKD 83,930,000 in the previous year, indicating a significant rise in operational costs[108] - Administrative expenses increased to approximately HKD 28,420,000, up HKD 15,840,000 or 125.9% from HKD 12,580,000 in the same period last year, primarily due to rapid growth in Shantou Hongdong leading to higher employee costs and office expenses[196] Financial Management and Risk - The group’s financial risk management focuses on minimizing the impact of market risks, including foreign exchange, interest rate, and liquidity risks[58] - There have been no changes to the risk management policies since the end of the financial year[59] Accounting Policies - The company adopted new accounting policies effective April 1, 2019, impacting the financial statements but not affecting retained earnings[33] - The adoption of Hong Kong Financial Reporting Standard No. 16 resulted in the recognition of right-of-use assets amounting to HKD 5,950,000 and lease liabilities of HKD 302,000 as of April 1, 2019[46] Dividends - The company declared an interim dividend of HKD 3.00 per share for the six months ended September 30, 2019, compared to HKD 2.20 per share in 2018, marking a 36% increase[124] - The total interim and special dividends declared for the six months ended September 30, 2019, amounted to approximately HKD 27,763,000, compared to HKD 15,270,000 in 2018[124] Segment Performance - Revenue from the cigarette packaging business was approximately HKD 107,890,000, a 2.3% increase from HKD 105,420,000 in the same period last year[190] - The environmental governance business generated revenue of approximately HKD 103,290,000, a significant increase of 1,633.1% from HKD 5,960,000 in the same period last year[190] - The overall profit margin for the reporting period was approximately 40.4%, up from 36.8% in the same period last year[192]

Financial Performance - The company's net profit attributable to shareholders increased by 75% from HKD 32.22 million in 2017-18 to HKD 56.30 million in 2018-19[6]. - The total dividend for the year is HKD 0.052 per share, consisting of a final dividend of HKD 0.03 and an interim dividend of HKD 0.022[6]. - The group recorded revenue of approximately HKD 262,190,000 for the fiscal year ending March 31, 2019, an increase of HKD 53,110,000 or 25% compared to HKD 209,080,000 for the previous fiscal year[18]. - The cigarette packaging business contributed approximately HKD 216,530,000 to revenue, a 5% increase from HKD 206,810,000 in the previous year, while the environmental management business generated approximately HKD 45,660,000, up 1,911% from HKD 2,270,000[19]. - The overall gross profit was approximately HKD 92,170,000, with a gross profit margin of 35%, slightly down from 36% in the previous year[21]. - Administrative expenses increased by approximately HKD 3,520,000 to about HKD 31,850,000, primarily due to costs associated with the acquisition of Hongdong[22]. - Other income netted approximately HKD 2,050,000, a recovery from a loss of HKD 9,330,000 in the previous year, benefiting from a favorable securities market[23]. - Financing income amounted to approximately HKD 9,080,000, an increase from HKD 4,910,000 in the previous year[24]. - The tax expense rose to approximately HKD 13,620,000 from HKD 9,100,000, attributed to increased pre-tax profits and non-deductible expenses[25]. - The profit attributable to the owners of the company was approximately HKD 56,300,000, an increase of about HKD 24,080,000 from HKD 32,220,000 in the previous year[26]. - The group's listed securities generated a profit of approximately HKD 860,000 in the fiscal year 2018/19, compared to a loss of HKD 6,520,000 in the previous fiscal year[30]. - As of March 31, 2019, the total cash and restricted cash balance was approximately HKD 266,810,000, an increase from HKD 218,210,000 as of March 31, 2018[32]. - The group's capital expenditure for the fiscal year 2018/19 was approximately HKD 19,640,000, significantly higher than HKD 1,260,000 in the previous fiscal year[36]. - The net cash generated from operating activities was approximately HKD 100,220,000 for the fiscal year 2018/19[32]. - The group has no borrowings as of March 31, 2019, resulting in no debt ratio being presented[33]. - The group has no contingent liabilities as of March 31, 2019, consistent with the previous year[38]. - The company’s retained earnings before dividends amounted to approximately HKD 175,760,000, an increase from HKD 151,100,000 as of March 31, 2018, representing a growth of about 16.5%[76]. - The top five customers accounted for approximately 95% of the total revenue, with the largest customer contributing about 56% of the total revenue for the year ended March 31, 2019, compared to 93% and 65% respectively for the year ended March 31, 2018[77]. - The group had no bank borrowings as of March 31, 2019, and March 31, 2018, indicating a debt-free status during these periods[70]. Business Strategy and Market Outlook - The tobacco packaging business showed resilience despite a challenging market, with cigarette sales in China slightly increasing to 2,372 billion sticks in 2018[7]. - The tobacco industry is expected to face increasing competition in 2019, but the potential for improved profitability remains due to high economic value[14]. - The Guangdong environmental governance market presents significant growth opportunities, with government initiatives targeting the elimination of poor water quality by the end of 2019[14]. - The company is committed to enhancing its technical, management, and construction qualifications to create better returns for shareholders in the coming year[14]. - The company emphasizes its dedication to brand establishment, market expansion, and integrity as core objectives[6]. - The company is diversifying its business strategies to seek growth opportunities in other sectors, including environmentally friendly businesses, to expand revenue sources[66]. - The company is actively monitoring industry trends, technological innovations, and business strategies to address changes in the market, particularly in response to tobacco regulation policies[66]. - The company faces significant reliance on a limited number of major customers in China, which poses risks related to economic and regulatory changes affecting core business performance[66]. - The company has experienced a significant increase in operational challenges due to tobacco control policies, which may adversely affect cigarette sales in the future[66]. - The company plans to invest more resources in designing new products and improving quality to deepen relationships with existing customers and attract potential customers[41]. - The group aims to explore new wastewater treatment projects to expand revenue sources and enhance shareholder returns, leveraging new environmental permits[41]. Environmental Governance and Sustainability - The environmental governance business is aligned with Guangdong Province's water quality improvement goals, aiming for over 83.1% of surface water to meet good quality standards by 2019[9]. - The company has established strategic cooperation with Tsinghua University for advanced water environment governance technologies[13]. - The company completed the Shantou City drainage project by the end of November 2018 and plans to start a three-year maintenance period in June 2019[13]. - The company has expanded its business into environmental governance through the acquisition of Hong Kong Hongdong Investment Co., Ltd. and its subsidiary, which includes a comprehensive technology implementation and equipment production base[169]. - The company is committed to integrating environmental protection and social responsibility into its operations while pursuing sustainable development[162]. - The company has established internal monitoring and formal auditing procedures to ensure the accuracy and reliability of the data disclosed in its reports[168]. - The company recognizes the importance of maintaining communication with stakeholders, including shareholders, customers, and regulatory bodies, to determine long-term development directions[171]. - The company’s environmental governance capabilities include equipment research and development, ecological restoration plant cultivation, and pollutant detection and analysis[169]. - The company has installed exhaust gas collection devices in all production workshops to ensure compliance with environmental standards[180]. - The company reported a total of 7.3 tons of TVOCs and 0.01 tons of benzene compounds generated during production activities[181]. - The company has implemented green production measures to promote energy-saving and low-carbon operations[177]. - The company adheres to various environmental laws and regulations, including the Air Pollution Comprehensive Emission Standards[177]. - The company has developed an emergency response plan for environmental incidents, which has been approved by experts and filed with relevant government departments[180]. - The total carbon dioxide emissions from the company amounted to 4,051.40 tons, with 3,764.90 tons from Xinda Printing and 286.50 tons from Hongdong Governance[183]. - Total nitrogen oxides emissions amounted to 0.3239 tons, with gasoline contributing 0.3095 tons and diesel 0.0144 tons[187]. - Total sulfur oxides emissions were recorded at 0.0168 tons, with gasoline at 0.0043 tons and diesel at 0.0125 tons[187]. - Solid waste generated by 信达彩印 included 0.500 tons of empty barrels, 0.050 tons of rags, 0.200 tons of light tubes, and 0.500 tons of activated carbon, totaling 9.739 tons of waste[190]. - Total water consumption for the year was 39,327 tons, with 信达彩印 using 38,790 tons and 弘東治理 using 537 tons[198]. - 信达彩印's wastewater treatment capacity is 8 tons per day, with a total wastewater discharge of approximately 2,920 tons during the reporting period[192]. - Energy consumption included 3,979,663 kWh of electricity, 7,348 kg of liquefied petroleum gas, 14,666 liters of gasoline, and 1,600 liters of diesel[196]. - The company saved approximately 73,000 tons of water through rainwater collection and recycling of cooling water[197]. - The company promotes the use of environmentally friendly materials, such as water-soluble inks and non-benzene adhesives, to enhance sustainability[199]. - The company actively engages in waste separation and recycling initiatives to minimize environmental impact[199]. - The company encourages employees to engage in environmentally responsible behaviors through communication and education initiatives[176]. - The company has completed the construction of spray towers and other equipment for exhaust gas treatment this year[180]. - No significant environmental violations were reported during the reporting period[178]. Corporate Governance - The company has adopted high standards of corporate governance to maintain competitiveness and healthy growth[113]. - The board consists of two executive directors, one non-executive director, and three independent non-executive directors, ensuring diverse expertise[113]. - The company has implemented a board diversity policy, considering factors such as gender, age, cultural background, and professional experience to achieve diversity[121]. - The audit committee held two meetings during the fiscal year ending March 31, 2019, to review the financial performance and internal controls of the group[128]. - The remuneration committee convened once in the fiscal year to review the compensation of directors and senior management[132]. - The attendance rate for the annual general meeting and regular board meetings was 100% for several directors, indicating strong engagement[126]. - The company has established appropriate liability insurance for directors and senior management to cover responsibilities arising from company activities[117]. - The board has adopted measurable targets for diversity and will review the policy periodically to ensure its effectiveness[122]. - The company encourages continuous professional development for all directors to enhance their knowledge and skills[124]. - The independent non-executive directors have confirmed their independence according to the listing rules, ensuring proper governance[123]. - The chairman and CEO is responsible for formulating overall business strategy and ensuring the board operates effectively[117]. - The audit services provided for the year ending March 31, 2019, amounted to HKD 1,487,000[147]. - Additional non-audit services, including interim performance-related services, totaled HKD 187,000[147]. - The company confirmed compliance with the corporate governance code during the year ending March 31, 2019, with some deviations noted[139]. - The board is responsible for maintaining effective risk management and internal control systems to protect shareholder interests[149]. - An independent review of the internal control system was conducted, with no significant irregularities found[150]. - The company has implemented procedures to prevent inappropriate asset use and ensure compliance with applicable laws and regulations[149]. - The board has not submitted the monthly performance reports as required by the corporate governance code, but has provided regular updates on significant changes[144]. - The nomination committee reviewed the board's structure and diversity during the year[135]. - The company has adopted the standard code for securities trading by directors and confirmed compliance throughout the year[145]. - The governance committee is responsible for evaluating and reviewing the company's governance policies and practices[138]. - The company maintains a dividend policy to distribute at least 35% of consolidated distributable profits as dividends, with the board regularly reviewing this policy[151]. - The board will consider various factors, including actual and expected financial performance, retained earnings, liquidity, and future cash needs when deciding on dividend payments[151]. - The company’s financial performance and position for the year ended March 31, 2019, are detailed in the audited consolidated financial statements[59]. - The company’s main business is investment holding, with subsidiaries engaged in various activities as detailed in the financial statements[58]. - The company’s annual general meeting is scheduled for August 23, 2019, with a record date for dividend eligibility set for September 3, 2019[61][62]. - The company has a management team with extensive experience in various fields, including finance, law, and business management, contributing to its strategic decision-making[54][55]. - The company has a total of 694,080,000 issued ordinary shares, with SXD Limited holding 450,000,000 shares, representing 64.83% of the total[103]. - As of March 31, 2019, the company had 50,060,000 unexercised share options, of which 6,320,000 were exercised[96]. - The company has a total of 39,660,000 share options granted to employees, with 33,340,000 remaining unexercised as of March 31, 2019[96]. - The beneficial ownership of shares by directors includes 1,200,000 shares held by Zheng Minsheng, representing 0.17% of the total[102]. - The company did not engage in any significant related party transactions that would constitute a major transaction under the Hong Kong Stock Exchange Listing Rules for the year ended March 31, 2019[78]. - The company had no purchases, redemptions, or sales of its listed securities during the year[75]. - There were no significant litigations or arbitrations involving the company as of March 31, 2019[109]. - The company has complied with the corporate governance code throughout the year, except for specific provisions[110].