Company Overview - Macro Group Holdings Limited was established in October 2014 in the Cayman Islands and primarily operates in Hong Kong, providing foundation construction, land surveying services, and financial services [2] - The company has been involved in foundation engineering since May 1995, focusing on various types of pile construction, including socket-type I-beams and micro piles [2] - Macro Group's subsidiary, Fuhui (Hong Kong) Limited, obtained a money lender license in October 2017, and the company is preparing to apply for a license from the Securities and Futures Commission to offer comprehensive financial services in Hong Kong and Asia [2] Financial Performance - As of September 30, 2024, Macro Group reported total revenue of 161 million yuan, a year-on-year increase of 14.58% [1] - The company recorded a net profit attributable to shareholders of -9.53 million yuan, a significant decrease of 157.48% compared to the previous year [1] - The gross profit margin stood at 21.57%, while the debt-to-asset ratio was 72.01% [1] Market Performance - As of April 15, the Hang Seng Index rose by 0.23%, closing at 21,466.27 points [1] - Macro Group's stock price was 0.25 HKD per share, reflecting a 14.16% increase with a trading volume of 410,000 shares and a turnover of 93,400 HKD, showing a volatility of 18.26% [1] - Over the past month, Macro Group's stock has declined by 15.77%, and year-to-date, it has decreased by 8.63%, underperforming the Hang Seng Index's increase of 6.77% [1] Industry Valuation - The average price-to-earnings (P/E) ratio for the construction industry (TTM) is 6.77 times, with a median of 2.25 times [1] - Macro Group's P/E ratio is -1.02 times, ranking it 198th in the industry [1] - Comparatively, other companies in the industry have P/E ratios such as Pujiang International at 1.01 times, China Pipe at 1.51 times, and others ranging from 1.56 to 2.25 times [1]

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之內容概不負責，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。 Wan Kei Group Holdings Limited 宏 基 集 團控股 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：1718） 截至二零二四年九月三十日止六個月之中期業績公告 | --- | --- | |-------|---------------------------------------------------------------------------------------------------------------------------------| | | | | | 財務摘要 | | • | 本集團於報告期間之收入約為 178,596,000 港元（截至二零二三年九月三十日止六個月： 約 155,868,000 港元）。 | | • | 報告期間本公司擁有人應佔虧損約為 10,563,000 港元（截至二零二三年九月三十日止六 個月：本公司擁有人 ...

Wan Kei Group Holdings Limited 宏 基 集 團 控 股 有 限 公 司 (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 : 1718 CONTENTS 目錄 | --- | --- | |------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------| | | | | Corporation Information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ...

Employee Costs and Expenses - Employee costs increased to HKD 76,587,383 in 2024 from HKD 69,329,793 in 2023[1] - General and administrative expenses, along with net impairment losses on financial and contract assets, decreased by 20.7% to HKD 65,326,000 in the reporting period from HKD 82,350,000 in the previous year, mainly due to a reduction in net impairment losses on financial and contract assets by HKD 3,887,000[66] Taxation - Income tax expense for 2024 was HKD 759,814, compared to HKD 937,787 in 2023[2] Dividends - No dividends were declared for the fiscal years ending March 31, 2024 and 2023[3] Trade Receivables and Payables - Trade receivables increased to HKD 31,800,294 in 2024 from HKD 28,046,881 in 2023[10] - Trade payables increased to HKD 30,929,648 in 2024 from HKD 23,414,315 in 2023[11] Revenue Composition - Revenue from foundation construction engineering accounted for 76.1% of total revenue in 2024, down from 80.9% in 2023[14] - Revenue from financial services decreased to HKD 554,000 in 2024 from HKD 2,507,000 in 2023[16] - Revenue from e-commerce live streaming and promotion accounted for 1.0% of total revenue in 2024, up from 0% in 2023[31] - Revenue from customer contracts under HKFRS 15 was HKD 219,633,347, down from HKD 255,328,042 in the previous year[191] - Revenue from foundation construction engineering increased to HKD 65,709,218 from HKD 57,611,299, while revenue from land surveying services was HKD 2,757,238[191] - Total revenue from financial services interest income decreased to HKD 554,021 from HKD 2,507,339[191] Profitability and Margins - Gross profit margin improved to 18.4% in 2024 from 17.1% in 2023[43] - The financial services segment reported a gross profit of HKD 554,000 with a gross margin of 100% during the reporting period[65] - The company recorded a net loss of approximately HKD 20,622,000 in the reporting period, compared to a net loss of HKD 46,996,000 in the year ended March 31, 2023[73] - Gross profit for the fiscal year ending March 31, 2024, was HKD 53,073,477, slightly down from HKD 53,789,469 in the previous year[151] - The company reported a pre-tax loss of HKD 19,340,608 for the fiscal year ending March 31, 2024, compared to a pre-tax loss of HKD 46,057,791 in the previous year, showing a significant improvement[151] - The total gross profit for the reportable segments was HKD 53,789,469, with foundation construction engineering contributing HKD 34,382,854, land surveying services contributing HKD 16,900,027, and financial services contributing HKD 2,506,588[198] - The total pre-tax profit/(loss) for the reportable segments was a loss of HKD 5,854,026, with foundation construction engineering showing a profit of HKD 13,259,397, land surveying services showing a profit of HKD 5,023,016, financial services showing a loss of HKD 14,932,143, and consumer goods trading showing a loss of HKD 9,204,296[198] Industry Outlook - The company expects a steady recovery in the Hong Kong construction and foundation industry despite the slower-than-expected global economic recovery[23] Loans and Receivables - Outstanding principal of Receivable Loan B decreased from HKD 16,900,000 as of March 31, 2023, to HKD 12,900,000 as of March 31, 2024, following a settlement agreement and repayment schedule[49] - The company received a total of HKD 40,181,000 (including accrued interest) for the redemption of debt instruments, with an outstanding amount of HKD 26,926,000 still unpaid as of the announcement date[50] - Expected credit loss provisions for consumer trade receivables and Receivable Loan A were HKD 10,386,000 and HKD 7,964,000, respectively, as of March 31, 2023, with all outstanding balances cleared during the reporting period[51] - The expected credit loss rate for Receivable Loan B decreased to 63.1% as of March 31, 2024, with a provision of HKD 8,138,000 against a total book value of HKD 12,900,000[149] Acquisitions and Investments - Unused net proceeds for further acquisitions are planned to be fully utilized by March 31, 2025, targeting companies in the food, beverage, and construction industries, or other sectors if deemed beneficial[52] - The company acquired the remaining 49% equity of Pure Luck International Limited for a cash consideration of HKD 5,000,000 on April 30, 2024[84] - The company's fair value loss on listed equity investments was approximately HKD 520,000 for the year ended March 31, 2024, compared to no loss in the previous year[132] - The company's fair value of equity securities investments (unlisted) decreased from HKD 8,559,589 in 2023 to HKD 2,734,980 in 2024[129] - The company's share of profit from Song Shen IP Development Limited was HKD 4,141,000 for the period from April 1, 2022, to March 27, 2023[147] Legal and Contingent Liabilities - The company is considering legal action to recover unpaid redemption amounts of HKD 26,926,000 from the fund, manager, and investment manager[59] - No significant contingent liabilities were reported as of March 31, 2023, and March 31, 2024[54] - The company has no significant pending litigation as of March 31, 2024[100] Financial Position and Liquidity - Total interest-bearing borrowings as of March 31, 2024, amounted to HKD 179,941,000, primarily in HKD with fixed interest rates[61] - The company maintains a prudent financial management approach, focusing on continuous credit assessments and monitoring liquidity to ensure sufficient funding for operations[82] - The company's foreign exchange risk is minimal as most of its operations and transactions are settled in HKD, and it has not adopted any currency hedging policies[82] - The company's cash and bank balances increased by approximately HKD 21,808,000 to HKD 138,286,000 as of March 31, 2024, compared to HKD 116,478,000 on March 31, 2023[97] - The company's cash and cash equivalents increased to HKD 138,285,822 as of March 31, 2024, up from HKD 116,478,368 in the previous year[151] - Net current assets decreased by HKD 20,880,000 to HKD 80,732,000 as of March 31, 2024, from HKD 101,612,000 as of March 31, 2023, primarily due to a decrease in other receivables[81] - The company's net current assets decreased to HKD 80,731,837 as of March 31, 2024, from HKD 101,611,797 in the previous year[158] - The company's capital-to-debt ratio increased to 199.2% as of March 31, 2024, from 161.0% as of March 31, 2023, reflecting a higher level of interest-bearing liabilities relative to total equity[82] - The company's net asset value decreased to HKD 90,828,717 as of March 31, 2024, from HKD 117,337,456 in the previous year[151] - The company's total assets decreased to HKD 323,973,873 as of March 31, 2024, from HKD 354,084,748 in the previous year[151] - Non-current assets totaled HKD 13,069,446 as of March 31, 2024, compared to HKD 18,256,986 in the previous year[168] - The company's attributable capital and reserves include share capital of HKD 9,600,000 and reserves of HKD 80,721,978, down from HKD 107,737,456 in the previous year[169] - Total non-current liabilities increased to HKD 2,972,566 from HKD 2,531,327, driven by higher long-service payment liabilities (HKD 1,486,225) and lease liabilities (HKD 972,685)[170] - The company reported a net asset value of HKD 90,828,717, down from HKD 117,337,456 in the previous year[170] Share Issuance and Capital - The company entered into a placement agreement on April 3, 2024, to issue up to 19,200,000 shares at a placement price of HKD 1.00 per share, with a net issue price of approximately HKD 0.97 per share after deducting commissions and expenses[76] - The company completed a placement on April 16, 2024, issuing 19,200,000 shares, representing approximately 16.66% of the enlarged issued share capital post-placement[99] - The company's issued share capital remained at HKD 9,600,000 as of March 31, 2024, with 96,000,000 ordinary shares issued, each with a par value of HKD 0.1[91] Business Expansion and Diversification - The company is exploring opportunities in emerging industries to diversify and expand its business[63] - The company expanded into social media e-commerce live streaming and promotion business during the reporting period[190] Other Income and Expenses - Other income, other gains, and net losses decreased by approximately HKD 14,463,000 from HKD 16,529,000 in the year ended March 31, 2023, to HKD 2,066,000 in the reporting period, primarily due to the absence of government subsidies and reclassification of gains from debt investments[66] - The fair value loss on financial assets measured at fair value through other comprehensive income was HKD 5,825,000 for the reporting period, compared to no loss in the previous year[142] - Total interest income from bank deposits was HKD 822,214, while total interest expenses amounted to HKD 6,194,682[198] - Total depreciation for the year was HKD 4,035,475, with foundation construction engineering accounting for HKD 625,227, land surveying services for HKD 1,685,080, and financial services for HKD 1,725,168[198] - The total impairment loss/(reversal) on financial and contract assets was HKD 26,065,914, with financial services contributing HKD 16,001,055 and consumer goods trading contributing HKD 10,179,922[198] Assets and Liabilities by Segment - Total assets for the reportable segments amounted to HKD 640,681,691, with foundation construction engineering accounting for HKD 273,709,093, land surveying services for HKD 57,994,568, financial services for HKD 254,062,307, and consumer goods trading for HKD 54,915,723[198] - Total liabilities for the reportable segments were HKD 611,232,187, with foundation construction engineering accounting for HKD 192,216,619, land surveying services for HKD 10,294,189, financial services for HKD 349,395,427, and consumer goods trading for HKD 59,325,952[198] Capital Expenditures - Total capital expenditures for the year were HKD 3,405,103, with foundation construction engineering accounting for HKD 944,748, land surveying services for HKD 954,837, and financial services for HKD 1,505,518[198] Revenue and Profit by Segment - Total external customer revenue for the fiscal year ending March 31, 2024, was HKD 315,446,680, with the foundation construction engineering segment contributing HKD 255,328,042, land surveying services contributing HKD 57,611,299, and financial services contributing HKD 2,507,339[198] - The total gross profit for the reportable segments was HKD 53,789,469, with foundation construction engineering contributing HKD 34,382,854, land surveying services contributing HKD 16,900,027, and financial services contributing HKD 2,506,588[198] - The total pre-tax profit/(loss) for the reportable segments was a loss of HKD 5,854,026, with foundation construction engineering showing a profit of HKD 13,259,397, land surveying services showing a profit of HKD 5,023,016, financial services showing a loss of HKD 14,932,143, and consumer goods trading showing a loss of HKD 9,204,296[198] Accounting Standards - The company adopted revised HKFRS standards, including HKAS 12 amendments related to international tax reform under the OECD's Pillar Two model, which had no impact on the financial statements[174] Customer Concentration and Project-Based Revenue - The company's revenue is project-based and non-recurring, and failure to secure new projects could result in lower-than-expected revenue[101] - The company's customer base is concentrated, and the loss of any major client could adversely affect operations and financial performance[105] Land Surveying Services - Land surveying service revenue increased by HKD 8,098,000 (14.1%) to HKD 65,709,000 during the reporting period, driven by an increase in large-scale projects[64] Financial Services - The financial services segment reported a gross profit of HKD 554,000 with a gross margin of 100% during the reporting period[65] - Revenue from financial services decreased to HKD 554,000 in 2024 from HKD 2,507,000 in 2023[16] - Total revenue from financial services interest income decreased to HKD 554,021 from HKD 2,507,339[191] Consumer Trade Receivables - The company's trade receivables for consumer goods trading were fully settled during the reporting period, following overdue payments in 2023[133] Total Assets and Liabilities - The company's total assets increased from HKD 82,329,036 to HKD 94,764,826 during the reporting period[134] - The company's total assets decreased to HKD 323,973,873 as of March 31, 2024, from HKD 354,084,748 in the previous year[151] - Total liabilities for the reportable segments were HKD 611,232,187, with foundation construction engineering accounting for HKD 192,216,619, land surveying services for HKD 10,294,189, financial services for HKD 349,395,427, and consumer goods trading for HKD 59,325,952[198] Placement and Proceeds Utilization - The company plans to use up to HKD 36,500,000 of the net proceeds from the placement to develop its lending business over the next 12 months[80] Transaction Price and Performance Obligations - The transaction price allocated to remaining performance obligations under existing contracts was approximately HKD 275,503,000, up from HKD 176,615,000 in the previous year[191]

Contents 目錄 Pages 頁次 | CORPORATE INFORMATION | 公司資料 | 2 | | --- | --- | --- | | MANAGEMENT DISCUSSION AND ANALYSIS | 管理層討論及分析 | 5 | | UNAUDITED CONDENSED CONSOLIDATED | 未經審核簡明綜合中期財 | | | INTERIM FINANCIAL STATEMENTS | 務報表 | | | • Condensed Consolidated Statement of Profit | • 簡明綜合損益及其他全 | 41 | | or Loss and Other Comprehensive Income | 面收益表 | | | • Condensed Consolidated Statement of | • 簡明綜合財務狀況表 | 43 | | Financial Position | | | | • Condensed Consolidated Statement of | • 簡明綜合權益變動表 | 45 | | Changes in Equ ...

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之內容概不負責，對其準確 性或完備性亦不發表任何聲明，並明確表示概不會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。 Wan Kei Group Holdings Limited 宏 基集 團 控 股有 限 公司 （於開曼群島註冊成立之有限公司） 1718 （股份代號： ） 截至二零二三年九月三十日止六個月之 中期業績公告 財務摘要 • 155,868,000 本集團於報告期間之收入約為 港元（截至二零二二年九月三十日止六個月： 179,842,000 約 港元）。 • 18,378,000 報告期間本公司權益股東應佔溢利約為 港元（截至二零二二年九月三十日止 473,000 六個月：約 港元）。 • 1.98 報告期間本公司每股基本及攤薄盈利約為 港仙（截至二零二二年九月三十日止六個 ...

Revenue Performance - The Group recorded a revenue increase of approximately HK$52,230,000 or 19.8% to approximately HK$315,447,000 for the year ended 31 March 2023 compared to the previous year[11]. - Revenue from foundation construction contributed approximately 80.9% to the total revenue during the Reporting Period, down from approximately 83.0% in the previous year[21]. - Revenue from ground investigation services increased to approximately 18.3% of total revenue during the Reporting Period, up from approximately 14.7% in the previous year[22]. - Revenue from financial services contributed approximately 0.8% to total revenue, a decrease from approximately 1.2% in the previous year[23]. - The increase in revenue was primarily due to a higher number of sizable projects tendered during the Reporting Period[11]. - Revenue from foundation construction projects increased by approximately HK$36,868,000 or approximately 16.9%, reaching approximately HK$255,328,000 for the Reporting Period[35]. - Revenue from ground investigation services increased by approximately HK$18,853,000 or approximately 48.6%, totaling approximately HK$57,611,000 for the Reporting Period[36]. Financial Overview - The Group's total revenue increased by approximately HK$52,230,000 or approximately 19.8%, from approximately HK$263,217,000 for the year ended March 31, 2022, to approximately HK$315,447,000 for the Reporting Period[35]. - The gross profit increased from approximately HK$52,813,000 for the year ended March 31, 2022, to approximately HK$53,789,000 for the Reporting Period, with an overall gross profit margin of approximately 17.1%[43]. - General and administrative expenses increased by approximately 37.9% to approximately HK$82,350,000 for the Reporting Period, primarily due to impairment losses on trade receivables[51]. - Other income, net decreased by approximately HK$2,595,000 to approximately HK$16,529,000 for the Reporting Period, mainly due to a significant drop in fair value gains on financial assets[50]. - The revenue from financial services amounted to approximately HK$2,507,000 for the Reporting Period, down from approximately HK$3,190,000 in the previous year[37]. - The Group recorded a net loss of approximately HK$46,996,000 for the Reporting Period, compared to a net loss of approximately HK$12,757,000 for the year ended 31 March 2022[121]. Credit Risk and Impairment - The Group recognized a provision for expected credit losses of approximately HK$25,406,000, with total impairment losses amounting to approximately HK$35,250,000 as of March 31, 2023[74]. - The expected credit loss (ECL) rate for trade receivable and Loan receivable A increased to 52.9%, resulting in provisions of approximately HK$10,386,000 and HK$7,964,000 respectively[92]. - The adverse impact of the COVID-19 pandemic has significantly increased credit risks for both Loan receivable A and Loan receivable B[93]. - The Company has adopted a prudent approach in assessing credit risks due to the economic impact of the pandemic and the past due status of the receivables[92]. - The Company has engaged an independent valuer to conduct impairment assessments over trade receivables and loan receivables as of 31 March 2023[87]. Business Strategy and Future Outlook - The Group plans to leverage its industrial experience and resources to seek cooperation and investment opportunities with high-quality companies in emerging industries[13]. - The Board anticipates a steady recovery in the construction and foundation industry in Hong Kong due to declining COVID-19 cases and increased vaccination rates[12]. - The Group will be prudent in tendering potential projects, with future strategies dependent on the evolution of the pandemic[12]. - The Group plans to seek cooperation and investment opportunities with high-quality companies in emerging industries to diversify and expand its business[31]. Cash Flow and Financing - The net cash generated from operating activities during the Reporting Period was approximately HK$24,359,000, primarily from foundation construction and ground investigation services[144]. - The net cash from investing activities was approximately HK$28,543,000, including approximately HK$21,680,000 from the disposal of interest in an associate[144]. - The net cash used in financing activities was approximately HK$68,345,000, mainly due to the repayment of HK$55,000,000 to a related company and HK$10,000,000 to a director of a subsidiary[144]. - The Group's total interest-bearing borrowings as of March 31, 2023, amounted to approximately HK$188,909,000, a decrease from approximately HK$245,357,000 as of March 31, 2022[137]. Corporate Governance and Compliance - The Group has maintained compliance with relevant laws and regulations in Hong Kong, with no material non-compliance reported during the Reporting Period[197]. - The Group has adhered to all applicable code provisions in the Corporate Governance Code during the Reporting Period[199]. - All Directors have confirmed compliance with the Model Code for Securities Transactions throughout the Reporting Period[200]. Employee and Remuneration - As of March 31, 2023, the Group had 123 full-time employees, down from 124 full-time employees as of March 31, 2022[174]. - The Group's total remuneration cost for the Reporting Period was approximately HK$69,330,000, a decrease from approximately HK$70,015,000 for the year ended March 31, 2022[175]. Environmental and Social Responsibility - The Group was awarded the ISO 14001:2015 certification for environmental management, valid from March 24, 2021, to April 29, 2024[192]. - The Group emphasizes environmental protection and has been certified with ISO 14001:2015, valid from March 24, 2021, to April 29, 2024[195].

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之內容概不負責，對其準確 性或完備性亦不發表任何聲明，並明確表示概不會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。 Wan Kei Group Holdings Limited 宏 基集 團 控 股有 限 公司 （於開曼群島註冊成立之有限公司） 1718 （股份代號： ） 截至二零二三年三月三十一日止年度之年度業績公告 本集團財務概要 截至二零二三年三月三十一日止年度 二零二三年 二零二二年 港元 港元 315,446,680 263,216,864 收入 53,789,469 52,813,457 毛利 (46,057,791) (13,384,350) 除稅前虧損 (46,995,578) (12,756,585) 本公司權益股東應佔虧損 每股虧損 (5.06) (1.37) ...

Wan Kei Group Holdings Limited 宏 基 集 團 控 股 有 限 公 司 (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：1718 Interim F Contents 目錄 | --- | --- | --- | |--------------------------------------------------------------------------------|--------------------------------------|-----------------------| | | | Contents 目錄 \nPages | | | | 頁次 | | CORPORATE INFORMATION | 公司資料 | 2 | | MANAGEMENT DISCUSSION AND ANALYSIS | 管理層討論及分析 | 5 | | UNAUDITED CONDENSED CONSOLIDATED INTERIM FI ...

Wan Kei Group Holdings Limited 宏 基 集 團 控 股 有 限 公 司 (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 : 1718 Annual Report 2021/ | --- | --- | --- | |-------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------| | | | CONTENTS | | | | | | | | 目錄 | | | Corporation Information . . . . . . . . . . . . . . . . . . . . . . . . . . . ...