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) ...

Revenue Performance - Revenue for the six months ended 30 September 2022 amounted to approximately HK$179,842,000, an increase of 20.5% compared to HK$149,225,000 for the same period in 2021[12] - The Group's total revenue for the Reporting Period increased by approximately HK$30,617,000 or approximately 20.5%, from approximately HK$149,225,000 to approximately HK$179,842,000[21] - Revenue from foundation construction contributed approximately 83.4% of total revenue during the Reporting Period, compared to 87.4% in the previous year[15] - Revenue from ground investigation services accounted for approximately 15.7% of total revenue, up from approximately 10.6% in the same period last year[15] - Revenue from ground investigation services increased by approximately 78.7%, from approximately HK$15,753,000 to approximately HK$28,150,000, due to an increase in the number of sizeable projects tendered[25] - Revenue from financial services amounted to approximately HK$1,683,000 for the Reporting Period, compared to approximately HK$1,634,000 for the six months ended 30 September 2021[28] Profitability - Profit attributable to equity shareholders for the Reporting Period was approximately HK$473,000, a decrease of 70.4% from HK$1,595,000 in the previous year[12] - Basic and diluted earnings per share for the Reporting Period were approximately HK cents 0.05, down from HK cents 0.17 in the same period last year[12] - The gross profit for the same period was HK$26,004,000, down from HK$33,421,000 year-on-year[121] - Profit from operations decreased to HK$6,700,000 compared to HK$8,391,000 in the previous year[121] - The Group recorded a net profit of approximately HK$473,000 for the Reporting Period, a decrease from approximately HK$1,595,000 in the corresponding period in 2021, mainly due to increased assessable profits and related income tax expenses[55] Expenses and Costs - The gross profit margin of the Group's foundation construction segment decreased to approximately 10.4% from approximately 20.0% due to increased material and subcontracting costs[30] - The gross profit of the Group's ground investigation services segment increased by approximately 98.8%, from approximately HK$4,363,000 to approximately HK$8,674,000, with a gross profit margin increase to approximately 30.8%[31] - General and administrative expenses decreased by approximately 3.5% to approximately HK$24,998,000 compared to approximately HK$25,912,000 for the corresponding period in 2021[40] - Finance costs for the Reporting Period were approximately HK$5,386,000, slightly down from approximately HK$5,445,000 for the six months ended 30 September 2021[42] - The total remuneration cost incurred by the group for the reporting period was approximately HK$31,526,000, compared to HK$32,090,000 for the six months ended September 30, 2021[118] Taxation - The tax expense for the Reporting Period was approximately HK$799,000, compared to an income tax credit of approximately HK$369,000 for the six months ended 30 September 2021, attributed to an increase in assessable profits[55] Financial Position - As of September 30, 2022, the Group's total interest-bearing borrowings decreased to approximately HK$239,256,000 from approximately HK$245,357,000 as of March 31, 2022, representing a reduction of about 2.5%[94] - The Group's net current assets increased to approximately HK$143,012,000 as of September 30, 2022, up by approximately HK$1,987,000 from HK$141,025,000 as of March 31, 2022[94] - The Group's cash and bank balances rose to approximately HK$142,491,000 as of September 30, 2022, compared to approximately HK$132,294,000 as of March 31, 2022, reflecting an increase of about 7.5%[96] - The gearing ratio as of September 30, 2022, was approximately 139.6%, a decrease from approximately 142.9% as of March 31, 2022[98] - Current liabilities increased to HK$299,775,000 from HK$284,621,000, reflecting a rise of approximately 5.5%[127] - Total assets less current liabilities as of September 30, 2022, were HK$173,052,000, slightly down from HK$173,705,000 as of March 31, 2022[127] Investments and Acquisitions - The Company acquired 35% of the issued share capital of Matsu Gami, which provides food and beverage catering services utilizing well-known IP rights[89] - The Group plans to utilize approximately HK$70.7 million for further possible acquisitions, including a potential acquisition of 16% of Matsu Gami's issued share capital[81] - The Group intends to change the use of approximately HK$76.7 million of the unutilized proceeds to fund the acquisition of approximately 51.315% of Blue Marble Limited, with a total consideration of HK$320 million[79] - The Group utilized approximately HK$20.8 million from the Placing proceeds for investment and financial services, and plans to use up to HK$36.5 million in the next 12 months to develop its money lending business[78] Market Outlook - The Board anticipates a steady recovery in the construction and foundation industry in Hong Kong despite the recent Omicron outbreak, indicating a cautious approach to potential project tenders[84] - The Board believes that the prospects of the IP rights licensing industry are improving despite the adverse economic impacts of COVID-19 measures in certain cities in China[89] Other Financial Information - The company had no contingent liabilities as of September 30, 2022, and March 31, 2022[114] - There were no significant investments or material acquisitions or disposals of subsidiaries during the reporting period[114] - The company reported a net movement in fair value reserve of HK$1,273,000, compared to HK$1,203,000 in the previous year, indicating a positive change in asset valuation[124] - The share of other comprehensive income from investments accounted for using the equity method showed a loss of HK$ (325,000), compared to a loss of HK$ (48,000) in the previous year[124]

Financial Performance - The Group recorded a revenue decrease of approximately HK$30,382,000 or approximately 10.3%, totaling approximately HK$263,217,000 for the year ended 31 March 2022 compared to HK$293,599,000 for the year ended 31 March 2021[10] - The decrease in revenue was primarily attributed to a reduction in the number of sizable projects tendered by the Group during the Reporting Period[10] - The Group's total revenue decreased by approximately HK$30,382,000 or approximately 10.3%, from approximately HK$293,599,000 for the year ended 31 March 2021 to approximately HK$263,217,000 for the Reporting Period[35] - Revenue from foundation construction projects decreased by approximately HK$3,090,000 or approximately 1.4%, from approximately HK$221,550,000 to approximately HK$218,460,000[35] - Revenue from ground investigation services decreased by approximately HK$26,014,000 or approximately 40.2%, from approximately HK$64,772,000 to approximately HK$38,758,000[36] - Revenue from financial services amounted to approximately HK$3,190,000, compared to approximately HK$3,614,000 in the previous year[37] - Revenue from trading of beauty and skin care products amounted to approximately HK$2,810,000, down from approximately HK$3,662,000 in the previous year[38] - The Group's gross profit decreased from approximately HK$56,973,000 for the year ended 31 March 2021 to approximately HK$52,813,000 for the Reporting Period, with an overall gross profit margin of approximately 20.1% (YR2021: approximately 19.4%) [44] - Gross profit from the foundation construction segment increased from approximately HK$24,184,000 to approximately HK$35,123,000, with a gross profit margin of approximately 16.1% (YR2021: approximately 10.9%) [44] - The gross profit of the ground investigation services segment decreased by approximately 54.2% to approximately HK$11,691,000, with a gross profit margin dropping from approximately 39.4% to approximately 30.2% [44] - The Group recorded a net loss of approximately HK$12,757,000 for the Reporting Period, compared to a net loss of approximately HK$12,240,000 for the year ended 31 March 2021[56] Strategic Outlook - The Board anticipates that the adverse economic effects from the Omicron coronavirus outbreak will be transitory, with hopeful signs of a steady recovery in the construction and foundation industry in Hong Kong[11] - Future strategies will be contingent on the evolution of the pandemic, with a prudent approach to tendering potential projects[11] - The Group plans to seek cooperation and investment opportunities with high-quality companies in emerging industries to diversify and expand its business[18] - The Group will adopt a cautious approach to potential project tenders, with future strategies dependent on the development of the pandemic situation[13] - The Group's strategy will depend on the evolution of the pandemic, with a focus on prudent tendering for potential projects in the construction and foundation industry[69] Corporate Governance - The Company aims to enhance transparency and strengthen accountability to shareholders through good corporate governance standards[135] - The Group is committed to continuously improving its corporate governance practices through periodic reviews[137] - The Company has complied with all applicable principles and code provisions in the Corporate Governance Code during the reporting period[134] - The Company has developed and monitored a code of conduct applicable to Directors and employees[159] - The Company has established an Audit Committee consisting of three independent non-executive Directors, with Mr. Lo Wa Kei Roy as the chairman[172] - The primary duties of the Audit Committee include overseeing the financial reporting system and internal control procedures[176] - The Company has not appointed a Chief Executive Officer during the Reporting Period, with the Chairman providing strategic guidance[166] - The Board believes that good corporate governance will support the Group in achieving its business objectives[136] Employee and Remuneration - The total remuneration cost incurred by the Group for the Reporting Period was approximately HK$70,015,000, a decrease from approximately HK$70,892,000 for the year ended March 31, 2021[96] - As of March 31, 2022, the Group had 124 full-time employees, down from 137 full-time employees as of March 31, 2021[94] - The remuneration of senior management is categorized by band during the reporting period, indicating a structured approach to compensation[195] - Directors' emoluments are determined based on their duties, responsibilities, performance, and the group's results, with annual reviews conducted by the Remuneration Committee[191] - The Company aims to align executive remuneration with performance metrics and corporate objectives[200] Risk Management - The Group's key risk exposures include reliance on a concentrated clientele base and potential revenue fluctuations due to project-based income[98] - The Group maintains long-term relationships with customers, with some relationships exceeding 10 years[101] - The Group has guaranteed profits of HK$10,000,000 and HK$20,000,000 for the years ended March 31, 2021, and March 31, 2022, respectively, related to the acquisition of 35% of Matsu Gami[89] Investment and Financial Position - Part of the net proceeds from the placing of 160,000,000 new ordinary shares raised approximately HK$134.0 million, with specific allocations for funding acquisitions and general working capital[62] - As of 31 March 2022, approximately HK$70.7 million of the net proceeds was allocated for further possible acquisitions, while HK$6.0 million was designated for general working capital[65] - The total interest-bearing borrowings of the Group amounted to approximately HK$245.4 million in FY2022, compared to approximately HK$236.1 million in FY2021[71] - The Group's current liabilities as of March 31, 2022, were approximately HK$284,621,000, representing an increase of approximately HK$3,270,000 from HK$281,351,000 as of March 31, 2021[74] - The Group maintained cash and bank balances of approximately HK$132,294,000 as of March 31, 2022, a decrease of approximately HK$4,653,000 from HK$136,947,000 as of March 31, 2021[74] Compliance and Legal Matters - The Group has not adopted any currency hedging policy during the Reporting Period, as it primarily operates in Hong Kong dollars, minimizing foreign exchange risk[83] - The Company has complied with the Listing Rules regarding the independence of its Directors, with all independent non-executive Directors confirmed as independent[152] - The Board has reviewed and monitored the Group's compliance with legal and regulatory requirements during the Reporting Period[159]

Financial Performance - Revenue for the six months ended 30 September 2021 amounted to approximately HK$149,225,000, representing an increase of 14.7% compared to HK$129,963,000 for the same period in 2020[28]. - Profit attributable to equity shareholders for the Reporting Period was approximately HK$1,595,000, a significant recovery from a loss of approximately HK$5,711,000 in the previous year[28]. - Basic and diluted earnings per share for the Reporting Period were approximately HK cents 0.17, compared to a loss of approximately HK cents 0.60 for the same period in 2020[28]. - The Group recorded a net profit of approximately HK$1,595,000 for the reporting period, compared to a net loss of approximately HK$5,711,000 for the corresponding period in 2020, indicating a significant recovery[66][68]. - The gross profit for the period was HK$33,421,000, compared to HK$23,911,000 in the previous year, indicating a significant increase of 39.8%[101]. - The profit attributable to equity shareholders of the Company for the period was HK$1,595,000, a turnaround from a loss of HK$5,711,000 in the same period last year[101]. - The earnings per share for the period was HK$0.17, compared to a loss per share of HK$0.60 in the previous year[101]. Revenue Breakdown - Revenue from foundation construction works increased by approximately 42.0%, from approximately HK$91,858,000 to approximately HK$130,455,000, primarily due to an increase in the number of sizeable projects[37]. - Revenue from ground investigation services decreased by approximately 53.9%, from approximately HK$34,175,000 to approximately HK$15,753,000, mainly due to a decrease in the number of sizeable projects tendered[44]. - Revenue from financial services contributed approximately 1.1% of total revenue, amounting to approximately HK$1,634,000, compared to approximately 1.4% in the previous period[35]. - Revenue from trading of beauty and skin care products contributed approximately 0.9% of total revenue, amounting to approximately HK$1,383,000, down from approximately 1.6% in the previous period[36]. - Total revenue from external customers amounted to HK$149,225,000, with segment revenues from foundation construction, ground investigation services, financial services, and trading of beauty and skin care products being HK$130,455,000, HK$15,753,000, HK$1,634,000, and HK$1,383,000 respectively[153]. Operational Efficiency - The Group's performance reflects a recovery trend following the challenges faced in the prior year, indicating improved operational efficiency[28]. - Management remains optimistic about future performance, anticipating further revenue growth driven by increased demand and operational improvements[28]. - The Group will be prudent in tendering potential projects, with future strategies dependent on the evolution of the pandemic[67][69]. - The Group plans to seek cooperation and investment opportunities with high-quality companies in emerging industries in the PRC to diversify and expand its business[71][74]. Expenses and Costs - General and administrative expenses for the Reporting Period were approximately HK$25,912,000, representing a decrease of approximately 4.2% compared to approximately HK$27,040,000 for the six months ended 30 September 2020[56]. - Finance costs increased to approximately HK$5,445,000 from approximately HK$5,212,000, mainly due to increased interest-bearing borrowing from a director of a subsidiary[58]. - The total remuneration cost incurred by the Group for the reporting period was approximately HK$32,090,000, compared to HK$31,622,000 for the six months ended 30 September 2020, reflecting a slight increase of 1.5%[95]. Assets and Liabilities - The Group's net current assets increased by approximately HK$6,566,000 to approximately HK$142,715,000 as of 30 September 2021, primarily due to net cash inflow from operating activities[77][79]. - As of 30 September 2021, the total interest-bearing borrowings increased to approximately HK$241,667,000 from approximately HK$236,138,000 as of 31 March 2021[76][78]. - The Group's cash and bank balances rose to approximately HK$145,806,000 as of 30 September 2021, up from approximately HK$136,947,000 as of 31 March 2021[81][84]. - The gearing ratio as of 30 September 2021 was approximately 131.4%, slightly up from approximately 130.6% as of 31 March 2021[83]. - Total liabilities decreased to HK$281,985 from HK$285,728, showing improved financial stability[171]. Taxation - The tax credit for the Reporting Period was approximately HK$369,000, a change from an income tax expense of approximately HK$1,335,000 for the six months ended 30 September 2020[62]. - The provision for Hong Kong Profits Tax for the period was calculated at a rate of 16.5%, consistent with the previous year[191]. - The provision for Macau Complementary Tax was calculated at 12% of the estimated assessable profits for the periods ended 30 September 2021 and 2020[192]. - The provision for People's Republic of China Income Tax was calculated at 25% of the estimated assessable profits for the period ended 30 September 2021[192]. Strategic Focus - The Company is focusing on enhancing its market presence and exploring new business opportunities to drive future growth[28]. - Continued investment in technology and product development is a priority to meet evolving customer demands and market trends[28]. - The Group aims to expand its market reach through strategic partnerships and potential acquisitions in the coming periods[28]. - The Group has not applied any new standards or interpretations that are not yet effective, and the application of new HKFRSs had no material impact on financial performance[125].

Revenue Performance - Revenue for the six months ended 30 September 2020 amounted to approximately HK$129,963,000, an increase of 20.5% compared to HK$107,861,000 for the same period in 2019[14] - The Group's total revenue increased by approximately HK$22,102,000, or approximately 20.5%, from approximately HK$107,861,000 for the six months ended 30 September 2019 to approximately HK$129,963,000 for the Reporting Period[22] - Revenue from foundation construction contributed approximately 70.7% of the total revenue during the Reporting Period, down from 84.5% in the six months ended 30 September 2019[19] - Revenue from ground investigation services increased by approximately 113.1%, from approximately HK$16,035,000 for the six months ended 30 September 2019 to approximately HK$34,175,000 for the Reporting Period[27] - Revenue from financial services amounted to approximately HK$1,890,000 for the Reporting Period, compared to approximately HK$574,000 for the six months ended 30 September 2019[30] - Revenue from trading of beauty and skin care products was approximately HK$2,040,000 for the Reporting Period, up from approximately HK$110,000 in the six months ended 30 September 2019[31] - For the six months ended September 30, 2020, revenue from construction contracts was HK$91,858,000, an increase from HK$91,142,000 in the same period of 2019[164] - The Group's financial services segment generated revenue of HK$1,890,000, up from HK$574,000, indicating a growth of approximately 229%[164] Profit and Loss - Loss attributable to equity shareholders for the Reporting Period was approximately HK$5,711,000, a decrease from HK$18,907,000 in the same period of 2019[14] - Basic and diluted loss per share for the Reporting Period was approximately HK cents 0.59, compared to HK cents 1.97 for the six months ended 30 September 2019[14] - The Group recorded a net loss of approximately HK$5,711,000, a decrease from approximately HK$18,907,000 for the corresponding period in 2019[54] - Total comprehensive income for the period attributable to equity shareholders was HK$293,000, compared to no comprehensive income in the previous year[96] - The loss for the period was HK$18,907,000, indicating a challenging financial environment[105] - Consolidated loss before taxation decreased to HK$4,376,000 from HK$19,174,000, reflecting a reduction of approximately 77%[196] Gross Profit and Margins - Gross profit for the Group was approximately HK$23,911,000 for the Reporting Period, compared to approximately HK$672,000 for the six months ended 30 September 2019[31] - Gross profit margin for the foundation construction segment was approximately 4.3% for the Reporting Period, improving from a gross loss margin of approximately 5.9% in the previous period[34] - Gross profit for the ground investigation services segment increased by approximately 185.6%, from approximately HK$5,616,000 to approximately HK$16,038,000[35] - The gross profit margin for ground investigation services improved from approximately 35.0% to approximately 46.9% during the Reporting Period[35] - Gross profit from the Group's financial service was approximately HK$1,888,000, with a gross profit margin of approximately 99.9% for the Reporting Period[40] - Gross profit from the Group's trading business was approximately HK$2,040,000, compared to approximately HK$110,000 for the six months ended 30 September 2019[40] Expenses and Costs - General and administrative expenses increased by approximately 13.7% to approximately HK$27,040,000 for the Reporting Period[44] - Finance costs increased to approximately HK$5,212,000 from approximately HK$4,074,000 for the six months ended 30 September 2019[50] - The total remuneration cost incurred by the Group for the Reporting Period was approximately HK$31,622,000, compared to approximately HK$30,300,000 for the six months ended September 30, 2019, reflecting a 4.4% increase[88] - Unallocated head office and corporate expenses rose to HK$9,158,000 from HK$6,347,000, which may require further management attention[196] Assets and Liabilities - As of September 30, 2020, the Group's total interest-bearing borrowings increased to approximately HK$236,345,000 from HK$221,293,000 as of March 31, 2020, representing an increase of about 6.5%[61] - The Group's net current assets decreased to approximately HK$131,236,000 as of September 30, 2020, down by approximately HK$64,727,000 from HK$195,963,000 as of March 31, 2020[62] - The Group's current liabilities increased to approximately HK$291,364,000 as of September 30, 2020, an increase of approximately HK$23,470,000 from HK$267,894,000 as of March 31, 2020[62] - The Group's cash and bank balances decreased to approximately HK$136,907,000 as of September 30, 2020, down from approximately HK$228,720,000 as of March 31, 2020[66] - The total equity as of September 30, 2020, was HK$183,062,000, down from HK$207,909,000 as of March 31, 2020, reflecting a decrease of 12.0%[102] - As of September 30, 2020, the net assets decreased to HK$183,062,000 from HK$207,909,000 as of March 31, 2020, representing a decline of approximately 11.9%[102] Cash Flow - The net cash used in operating activities was approximately HK$18,662,000 during the Reporting Period, primarily for trading beauty and skin care products[67] - The net cash used in investing activities was approximately HK$62,360,000, mainly related to payments for financial assets and an acquisition[67] - The net cash used in operating activities for the six months ended September 30, 2020, was HK$18,662,000, compared to HK$37,518,000 for the same period in 2019, indicating an improvement of 50.3%[109] - The company reported a net cash used in investing activities of HK$62,360,000 for the six months ended September 30, 2020, compared to HK$6,517,000 in the same period of 2019, showing a significant increase in cash outflow[109] - The cash and cash equivalents at the end of the period were HK$136,907,000, down from HK$293,874,000 at the end of the same period in 2019, a decrease of 53.4%[109] Strategic Initiatives and Future Outlook - The Group will assess potential investment opportunities in high-quality companies in emerging industries in China to maintain stable development[56] - The Group's foundation construction and ground investigation service sectors are relatively insulated from the impacts of COVID-19[56] - The company is focusing on expanding its reportable segments, particularly in construction and financial services, which showed promising asset growth[193] - The company aims to enhance its market presence through strategic initiatives in new product development and technology advancements[196] - Future outlook remains cautiously optimistic, with management emphasizing the need for continued operational efficiency and cost management strategies[196] Corporate Governance and Compliance - The unaudited interim financial information was approved for issue by the Board on November 25, 2020[111] - The Group's audit committee has reviewed the unaudited condensed consolidated interim financial information[1] - The Group has not adopted any financial instruments for hedging purposes during the Reporting Period[66] - The Group has not applied any new standards or interpretations that are not yet effective for the current period, and the application of new amendments has had no material impact on financial performance[154] Employee and Workforce - As of September 30, 2020, the Group had 137 full-time employees, a decrease from 143 employees as of March 31, 2020[87] Segment Information - The Group manages its businesses by four reportable segments: foundation construction, ground investigation services, financial services, and trading of beauty and skin care products[167] - Reportable segment revenue increased to HK$129,963,000 from HK$107,861,000, representing a growth of approximately 20.5% year-over-year[196] - Reportable segment profit improved to HK$4,531,000 compared to a loss of HK$12,827,000 in the previous year, indicating a significant turnaround[196] - Reportable segment assets totaled HK$631,228,000, with the beauty and skin care products segment holding HK$222,832,000[191] - Reportable segment liabilities as of the same date were HK$588,633,000, with the financial services segment accounting for HK$346,460,000[191]

Financial Performance - The Group recorded an increase in revenue of approximately HK$52,641,000 or approximately 25.9% to approximately HK$255,535,000 compared to the year ended March 31, 2019[12]. - The Group's total revenue increased by approximately HK$52,641,000, or approximately 25.9%, from approximately HK$202,894,000 for the year ended 31 March 2019 to approximately HK$255,535,000 for the Reporting Period[36]. - Revenue from foundation construction projects increased by approximately HK$46,182,000, or approximately 27.7%, from approximately HK$166,459,000 to approximately HK$212,641,000 during the Reporting Period[36]. - Revenue from ground investigation services increased by approximately HK$3,569,000, or approximately 10.0%, from approximately HK$35,682,000 to approximately HK$39,251,000 during the Reporting Period[37]. - Revenue from financial services amounted to approximately HK$2,728,000 for the Reporting Period, compared to HK$753,000 in the previous year[38]. - Revenue from the trading of beauty and skin care products amounted to approximately HK$916,000 for the Reporting Period, with no revenue in the previous year[39]. - The Group recorded a net loss of approximately HK$60,372,000 for the Reporting Period, compared to a net loss of approximately HK$55,229,000 for the year ended March 31, 2019[63]. Gross Profit and Margins - The Group's overall gross profit margin during the Reporting Period was approximately 8.3%, compared to a gross loss margin of approximately 3.3% in the previous year[45]. - Gross profit from the foundation construction segment increased to approximately HK$3,638,000, with a gross profit margin of approximately 1.7%, compared to a gross loss margin of approximately 10.2% in the previous year[46]. - Gross profit from ground investigation services increased by 45.2% to approximately HK$14,306,000, with a gross profit margin of approximately 36.4%[47]. - Gross profit from financial services was approximately HK$2,393,000, with a gross profit margin of approximately 87.7%[48]. - The Group's gross profit increased from a loss of approximately HK$6,622,000 in the year ended March 31, 2019, to a gross profit of approximately HK$21,254,000 during the Reporting Period, resulting in a gross profit margin of approximately 8.3% compared to a gross loss margin of approximately 3.3% in the previous year[49]. - The foundation construction segment improved from a gross loss of approximately HK$17,028,000 to a gross profit of approximately HK$3,638,000, with a gross profit margin of approximately 1.7% compared to a gross loss margin of approximately 10.2% in the previous year[49]. - The land surveying services segment reported a gross profit of approximately HK$14,306,000, an increase of 45.2% from approximately HK$9,853,000 in the previous year, with a gross profit margin rising from approximately 27.6% to approximately 36.4%[49]. - The Group's financial services segment achieved a gross profit of approximately HK$2,393,000, up from approximately HK$553,000 in the previous year, with a gross profit margin of approximately 87.7% compared to 73.4%[50]. Expenses and Liabilities - General and administrative expenses rose by approximately 20.4% to approximately HK$61,450,000 from approximately HK$51,022,000, primarily due to increased financial advisor fees and bad debt write-offs[55]. - Finance costs increased by approximately HK$3,532,000 to approximately HK$8,500,000, mainly due to higher interest rates on borrowings from related parties[60]. - The tax credit for the Reporting Period was approximately HK$406,000, down from approximately HK$1,760,000 in the previous year, due to increased assessable profits[61]. - The Group's total interest-bearing borrowings amounted to approximately HK$221,293,000 for the year 2020, an increase of approximately 11.6% from HK$198,287,000 in 2019[76]. - As of March 31, 2020, the Group's net current assets were approximately HK$195,963,000, a decrease of approximately 22.2% from HK$251,988,000 as of March 31, 2019[78]. - The Group's current liabilities increased by approximately 14.7% to HK$267,894,000 as of March 31, 2020, compared to HK$233,508,000 as of March 31, 2019[78]. - Cash and bank balances decreased by approximately 32.2% to HK$228,720,000 as of March 31, 2020, down from HK$337,512,000 as of March 31, 2019[81]. - The net cash used in operating activities was approximately HK$97,436,000 during the reporting period, primarily for foundation construction and ground investigation services[82]. - The gearing ratio as of March 31, 2020, was approximately 106.4%, significantly up from 73.9% as of March 31, 2019[83]. Corporate Governance and Compliance - The Company complied with all applicable corporate governance code provisions during the reporting period, with some deviations noted[137]. - The board of directors is committed to maintaining high standards of corporate governance to enhance transparency and accountability to shareholders[165]. - The Company has independent non-executive directors with diverse backgrounds in finance, law, and technology, enhancing its governance structure[157]. - The Company aims to formulate effective business strategies and manage associated risks through robust internal control procedures[165]. - The Company is committed to continuously improving its corporate governance practices through periodic reviews[178]. - The Company did not comply with certain code provisions during the reporting period due to unintentional oversights[169]. - The board held a total of 8 meetings during the reporting period, with all independent non-executive directors confirming their independence as per rule 3.13 of the Listing Rules[196]. - The Company complied with rules 3.10(1) and 3.10A of the Listing Rules, with independent non-executive Directors representing more than one-third of the Board[182]. Employee Relations and Workforce - The Group maintains good relationships with employees, with no strikes or labor disputes reported during the period[128]. - Employee compensation is reviewed annually based on performance, qualifications, and experience[128]. - The Group's management team has been effective in maintaining cooperation with employees[128]. - The Group has a focus on attracting and retaining suitable personnel through competitive compensation packages[128]. - The Group had 143 full-time employees as of March 31, 2020, compared to 128 full-time employees as of March 31, 2019, indicating a growth of approximately 11.7% in workforce[105]. Risk Management - The Group's key risk exposures include reliance on a concentrated clientele base, which could adversely affect operations if major customers are lost[107]. - The Group's revenue is project-based and non-recurrent, which poses a risk of lower-than-expected revenue if new projects are not secured[108]. - The Group did not experience any material difficulties in sourcing materials or assigning subcontractors during the Reporting Period, reflecting effective supply chain management[122]. - The Group had no material pending litigation as of March 31, 2020, indicating a low legal risk environment[100]. Environmental and Regulatory Compliance - The Group emphasizes environmental protection and has been awarded the ISO 14001:2015 certification, valid from April 7, 2018, to April 29, 2021[130]. - There were no material non-compliance issues with relevant laws and regulations during the reporting period[132]. - The Group has not adopted any currency hedging policy, as it primarily operates in Hong Kong dollars, minimizing foreign exchange risk[90]. Strategic Acquisitions - The Group conditionally agreed to acquire 51% of the issued share capital of a target group engaged in food and beverage catering services utilizing well-known IP Rights[20]. - The Company conditionally agreed to acquire 51% of the issued share capital of a target group engaged in food and beverage catering services utilizing well-known intellectual property rights[92]. - The net cash used in investing activities was approximately HK$15,042,000, which included HK$20,000,000 for refundable earnest money related to a potential acquisition[82]. Management and Leadership - Mr. Zhang Zhenyi has over 15 years of experience in financial, risk, and investment management, currently serving as CFO of Mason Group Holdings Limited since April 2020[151]. - Mr. Lo Wa Kei Roy has over 27 years of experience in auditing, accounting, and finance, and has been an independent non-executive director for multiple listed companies since 1999[155]. - Mr. Jan Wing Fu has over 29 years of experience in auditing, accounting, general management, and financial control, serving as the financial controller and company secretary since April 2019[160]. - Mr. Qin Fen has approximately 7 years of experience in corporate finance and has been the CEO of Shanghai Fen Rong Investment Management Co., Ltd. since July 2012[159]. - Mr. Leung Ka Fai Nelson has over 10 years of experience in legal affairs, specializing in intellectual property and cross-border legal business[157].

Financial Performance - Revenue for the six months ended September 30, 2019, amounted to approximately HK$113,351,000, an increase from approximately HK$78,929,000 for the same period in 2018[26]. - Loss attributable to equity shareholders for the Reporting Period was approximately HK$18,907,000, compared to a loss of approximately HK$34,321,000 for the same period in 2018[26]. - Basic and diluted loss per share for the Reporting Period was approximately HK cents 1.97, down from approximately HK cents 3.58 for the same period in 2018[26]. - The Group's total revenue for the Reporting Period increased by approximately HK$34,422,000, or approximately 43.6%, from approximately HK$78,929,000 for the six months ended 30 September 2018 to approximately HK$113,351,000 for the Reporting Period[43]. - The loss before taxation for the period was HK$19,174,000, compared to a loss of HK$35,655,000 for the same period in 2018[104]. - The Group recorded a net loss of approximately HK$18,907,000, a decrease from a net loss of approximately HK$34,321,000 in the corresponding period of 2018, attributed to a reduction in overall gross loss margin[66]. Revenue Breakdown - Revenue from foundation construction contributed approximately 80.4% of total revenue during the Reporting Period, up from approximately 78.1% in the same period of 2018[30]. - Revenue from ground investigation services contributed approximately 14.2% of total revenue during the Reporting Period, down from approximately 21.8% in the same period of 2018[31]. - Revenue from foundation construction works increased by approximately 47.9%, from approximately HK$61,635,000 for the six months ended 30 September 2018 to approximately HK$91,142,000 for the Reporting Period[43]. - Revenue from ground investigation services decreased by approximately 6.8%, from approximately HK$17,214,000 for the six months ended 30 September 2018 to approximately HK$16,035,000 for the Reporting Period[45]. - Revenue from financial services amounted to approximately HK$574,000 for the Reporting Period, compared to HK$80,000 for the six months ended 30 September 2018[47]. - Revenue from the trading business amounted to approximately HK$5,600,000 for the Reporting Period, with no revenue reported for the six months ended 30 September 2018[47]. Profitability and Expenses - The Group's gross profit amounted to approximately HK$672,000 for the Reporting Period, compared to a gross loss of approximately HK$14,332,000 for the six months ended 30 September 2018[49]. - Gross profit margin of the ground investigation services segment increased from approximately 24.7% for the six months ended 30 September 2018 to approximately 35.0% for the Reporting Period[50]. - General and administrative expenses for the Reporting Period were approximately HK$23,788,000, representing an increase of approximately 5.5% over the corresponding period in 2018[59]. - Finance costs increased to approximately HK$4,074,000 for the Reporting Period, up from approximately HK$2,889,000 for the six months ended 30 September 2018, primarily due to higher interest rates on borrowings[60]. - Other net income increased by approximately HK$3,492,000, from approximately HK$1,772,000 for the six months ended 30 September 2018 to approximately HK$5,264,000 for the Reporting Period[58]. Assets and Liabilities - As of 30 September 2019, the Group's total interest-bearing borrowings increased to approximately HK$206,358,000 from approximately HK$198,287,000 as of 31 March 2019[77]. - The Group's net current assets amounted to approximately HK$233,488,000 as of 30 September 2019, a decrease of approximately HK$18,500,000 from approximately HK$251,988,000 as of 31 March 2019[77]. - The Group's cash and bank balances were approximately HK$293,874,000 as of 30 September 2019, down from approximately HK$337,512,000 as of 31 March 2019[79]. - Total equity as of September 30, 2019, was HK$249,374, down from HK$268,281 as of March 31, 2019, indicating a decrease of approximately 7.0%[111]. - The amount due to a related company increased to HK$101,850 as of September 30, 2019, from HK$99,600 as of March 31, 2019, representing a rise of approximately 2.5%[108]. Cash Flow - The net cash used in operating activities was approximately HK$37,518,000 during the Reporting Period, primarily for foundation construction and ground investigation services[80]. - The net cash used in operating activities for the six months ended September 30, 2019, was HK$37,518, compared to HK$44,351 for the same period in 2018, showing an improvement of approximately 15.5%[122]. - Cash and cash equivalents at the end of the period on September 30, 2019, were HK$293,874, down from HK$337,512 at the beginning of the period, reflecting a decrease of about 12.9%[122]. - The company reported a net cash (used in)/generated from investing activities of HK$6,517 for the six months ended September 30, 2019, compared to HK$6,723 generated in the same period of 2018[122]. Corporate Structure and Governance - The Group was engaged in foundation construction, ground investigation services, financial services, and trading of beauty and skin care products during the Reporting Period[29]. - The Group's financial services segment was part of its diversified business model, although specific revenue figures were not disclosed[29]. - The Group conditionally agreed to acquire approximately 51.315% of the issued share capital of a target group engaged in e-sports events and online video production, pending approval from the Stock Exchange[93]. - The Group's registered office is located in Grand Cayman, Cayman Islands, and its principal place of business in Hong Kong is in Wanchai[1]. - The Group's shares are listed on the Main Board of the Stock Exchange[1]. Accounting Policies - The Group's financial statements are prepared in accordance with Hong Kong Accounting Standard 34 "Interim Financial Reporting"[132]. - The application of new and amendments to HKFRSs in the current period has had no material impact on the Group's financial performance and positions[176]. - HKFRS 16 has replaced HKAS 17, impacting the accounting policies related to leases[178]. - The Group has applied the transition provisions of HKFRS 16 in its accounting policies[180]. - The Group applies the new definition of a lease in HKFRS 16 only to contracts entered into or changed on or after April 1, 2019[185].

Financial Performance - Wan Kei Group Holdings Limited reported a revenue of HKD 1.2 billion for the fiscal year 2018/19, representing a year-on-year increase of 15%[2] - The company achieved a net profit of HKD 150 million, which is a 10% increase compared to the previous year[2] - The Group recorded a revenue decrease of approximately HK$23,332,000 or approximately 10.3%, totaling approximately HK$202,894,000 for the year ended 31 March 2019 compared to HK$226,226,000 for the year ended 31 March 2018[21] - Total revenue for the reporting period decreased by approximately HK$23,332,000 or about 10.3% to approximately HK$202,894,000 compared to approximately HK$226,226,000 for the year ended March 31, 2018[24] - The Group recorded a net loss of approximately HK$55,229,000 for the Reporting Period, an improvement from a net loss of approximately HK$70,247,000 for the year ended 31 March 2018[42] Revenue Breakdown - Revenue from foundation construction projects decreased by approximately HK$24,479,000 or approximately 12.8%, from approximately HK$190,938,000 to approximately HK$166,459,000 during the Reporting Period[21] - Revenue from ground investigation services slightly increased by approximately HK$394,000 or approximately 1.1%, from approximately HK$35,288,000 to approximately HK$35,682,000 during the Reporting Period[22] - Foundation construction services contributed approximately 82.0% to the total revenue during the Reporting Period, down from approximately 84.4% in the previous year[19] - Ground investigation services accounted for approximately 17.6% of total revenue during the Reporting Period, up from approximately 15.6% in the previous year[19] Future Outlook and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 25% increase in market share over the next two years[2] - The company has outlined a future outlook with a revenue growth target of 20% for the next fiscal year[2] - New product launches are expected to contribute an additional HKD 300 million in revenue for the upcoming fiscal year[2] - The Group intends to seek opportunities in the investment sector and money lending business to broaden its income stream[12] - The Group aims to leverage its industrial experience and resources to seek cooperation and investment opportunities with high-quality companies in emerging industries in the PRC[12] Cost Management and Efficiency - Research and development expenses increased by 30%, totaling HKD 50 million, focusing on innovative technologies[2] - The management emphasized the importance of sustainability initiatives, which are projected to reduce operational costs by 15% over the next three years[2] - The company has established a new strategic partnership aimed at enhancing its supply chain efficiency, expected to improve margins by 5%[2] Financial Position - The total interest-bearing borrowings of the Group amounted to approximately HK$198,287,000 for the year 2019, an increase from approximately HK$160,740,000 in 2018[46] - As of March 31, 2019, the Group's net current assets were approximately HK$251,988,000, down by approximately HK$49,173,000 from HK$301,161,000 as of March 31, 2018[46] - The Group's current liabilities increased to approximately HK$233,508,000 as of March 31, 2019, representing an increase of approximately HK$22,916,000 from HK$210,592,000 in 2018[46] - The cash and bank balances of the Group decreased to approximately HK$337,512,000 as of March 31, 2019, down by approximately HK$77,625,000 from HK$415,137,000 in 2018[48] Corporate Governance - The Company has complied with all applicable code provisions in the Corporate Governance Code during the reporting period, except for a deviation from code provision A.2.1[101] - All directors have confirmed compliance with the Model Code for Securities Transactions throughout the reporting period[101] - The Company has fully complied with rules 3.10(1) and 3.10A of the Listing Rules during the Reporting Period[127] - The Company has established a Legal Compliance Committee to oversee compliance matters since May 2015[151] - The Company has made significant adjustments in financial reporting, focusing on major judgmental areas and compliance with Listing Rules[164] Human Resources - The total remuneration cost incurred by the Group for the Reporting Period was approximately HK$63,242,000, compared to approximately HK$70,677,000 for the year ended 31 March 2018, reflecting a decrease of about 10.2%[72] - As of 31 March 2019, the Group had 128 full-time employees, an increase from 123 full-time employees as of 31 March 2018, representing a growth of about 4.1%[71] - The Group's human resource management aims to attract and retain suitable personnel by providing an attractive remuneration package[90] Risk Management - The Group's key risk exposures include reliance on a concentrated clientele base, which may adversely affect operations if major customers are lost[77] - The Group maintains multiple suppliers and subcontractors to avoid over-reliance, and did not experience material difficulties in sourcing materials during the Reporting Period[81] - The Group's revenue is project-based and non-recurrent, which may lead to lower-than-expected revenue if new project orders are not maintained[77] Board of Directors - The Board of Directors currently comprises four executive Directors and three independent non-executive Directors, ensuring a strong independent element in the Board[120] - The independent non-executive Directors represent more than one-third of the Board, which enhances independent judgment[123] - The Company aims to leverage the expertise of its directors to enhance its operational efficiency and market presence[112] - The board has delegated day-to-day management to the management team while retaining oversight responsibilities[143]