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]