Financial Performance - The group's revenue increased by approximately 34.6% to about HKD 183.0 million for the year ended March 31, 2022, compared to approximately HKD 136.0 million in the previous year[12]. - Net profit for the year rose by approximately 80.6% to about HKD 19.5 million, up from approximately HKD 10.8 million in the previous year[12]. - Sales to other users increased by approximately HKD 34.4 million, while sales to Indonesian and Philippine users rose by approximately HKD 12.6 million[12]. - The gross profit increased by approximately HKD 13.5 million or 29.5% to about HKD 59.2 million, compared to approximately HKD 45.7 million in the previous year[18]. - Overall gross margin decreased from approximately 33.6% to about 32.3% due to a higher proportion of sales to other users, which have a lower gross margin[18]. - Other income decreased by approximately 65.9% to about HKD 1.5 million, down from approximately HKD 4.4 million in the previous year[19]. Expenses and Assets - Sales and distribution expenses for the year were approximately HKD 23.6 million, an increase of about 8.3% compared to HKD 21.8 million in the previous year[5]. - Administrative expenses decreased by approximately 12.9% to about HKD 13.5 million from HKD 15.5 million in the previous year, primarily due to a reduction in employee costs[23]. - Inventory decreased to approximately HKD 96.7 million from HKD 118.9 million, a reduction of about HKD 22.2 million due to decreased procurement[27]. - Current assets net value increased to approximately HKD 159.2 million from HKD 137.7 million, with the current ratio rising from about 5.1 times to approximately 18.3 times[29]. - The group had no bank and other borrowings as of March 31, 2022, down from approximately HKD 18.9 million in the previous year[30]. Tax and Compliance - The effective tax rate for the year was approximately 16.5%, up from 13.4% in the previous year, with income tax expenses of about HKD 3.8 million compared to HKD 1.7 million previously[25]. - The company has confirmed compliance with the applicable code provisions throughout the year[67]. Corporate Governance - The company has adopted the principles and code provisions of the Corporate Governance Code as the basis for its corporate governance practices[67]. - The board believes that high standards of corporate governance are essential for safeguarding shareholder interests and enhancing corporate value[67]. - The company has established written guidelines for employees likely to possess unpublished sensitive price information regarding securities trading[69]. - The company has a strong board leadership that ensures objective decision-making[70]. - The company has implemented a standard code for directors' securities trading as per the listing rules[68]. - The company has a dedicated audit committee, remuneration committee, and nomination committee to oversee various governance aspects[66]. Risk Management - The company has implemented various policies and procedures to ensure effective risk management and compliance with applicable laws and regulations in Hong Kong[121]. - An independent professional advisor has been appointed to conduct regular reviews of the risk management and internal control systems[125]. - The company has established a whistleblowing procedure for employees to confidentially raise concerns regarding financial reporting or internal controls[125]. - The directors are aware of their responsibility for preparing the company's financial statements for the year[131]. Shareholder Relations - The company emphasizes effective communication with shareholders to strengthen investor relations and keep them informed about business performance and strategies[145]. - The company has a shareholder communication policy in place to address shareholder concerns and will regularly review its effectiveness[146]. Shareholding Structure - As of March 31, 2022, the beneficial ownership of Mr. Xiao amounted to 281,070,000 shares, representing approximately 70.26% of the company's total issued shares of 400,000,000[184]. - The company has not entered into any significant contracts with its controlling shareholders during the year[194]. - The company confirms that there were no breaches of the non-competition agreement by the controlling shareholder during the year[193]. Committees and Meetings - The board held five board meetings, three audit committee meetings, one remuneration committee meeting, one nomination committee meeting, and one annual general meeting during the year[116]. - The Audit Committee held three meetings during the year to review interim and annual financial performance, compliance controls, and risk management systems[89].

Revenue and Profitability - The group's revenue for the period was approximately HKD 88.7 million, an increase of about 12.3% compared to approximately HKD 79.0 million for the same period last year[18]. - The net profit attributable to the company's owners was approximately HKD 9.3 million, a decrease of about 32.1% compared to approximately HKD 13.7 million in the same period last year[28]. - The company reported revenue of HKD 88,715,000 for the six months ended September 30, 2021, an increase of 12.9% compared to HKD 79,003,000 in the same period last year[72]. - The company recorded a profit before tax of HKD 11,095,000, down 32.9% from HKD 16,546,000 in the previous year[72]. - The total comprehensive income for the period was HKD 9,295,000, up from HKD 13,671,000 in the previous year, indicating a decrease in profitability[77]. - The group reported a decrease in accrued expenses to HKD 1,066,000 from HKD 6,812,000 as of March 31, 2021[115]. Gross Profit and Margins - The gross profit decreased by approximately HKD 1.3 million or 4.5% to about HKD 27.7 million, with the overall gross margin dropping from approximately 36.7% to about 31.2%[21]. - Gross profit for the period was HKD 27,669,000, a decrease of 4.6% from HKD 29,021,000 year-on-year[72]. Expenses - Selling and distribution expenses increased by approximately 15.3% to about HKD 12.0 million, primarily due to increases in short-term lease expenses and advertising costs[23]. - The group incurred tax expenses of HKD 1,800,000 for the current year, a decrease of 37.5% from HKD 2,875,000 in the previous year[99]. Assets and Liabilities - As of September 30, 2021, the group's inventory was approximately HKD 119.2 million, a slight increase of about HKD 0.3 million from HKD 118.9 million as of March 31, 2021[29]. - The company's total liabilities decreased from HKD 33,547,000 to HKD 8,628,000, indicating a significant reduction in financial obligations[1]. - The company's cash and cash equivalents decreased to HKD 22,580,000 as of September 30, 2021, down from HKD 61,078,000 at the end of the previous year[80]. - The group's current assets net value was approximately HKD 147.5 million, with the current ratio increasing from about 5.1 times to approximately 18.1 times[30]. Shareholder Information - The company’s issued share capital was HKD 4,000,000, with 400,000,000 shares issued at a par value of HKD 0.01 each[35]. - The major shareholder, Mr. Siu Muk Lung, held 282,910,000 shares, representing approximately 70.73% of the total shares issued[50]. - The group did not declare any dividends for the six months ended September 30, 2021, consistent with the same period in 2020[105]. Operational Highlights - The group plans to expand its sales network and increase advertising and marketing activities to enhance market share among Indonesian and Filipino users[17]. - The group has introduced two new prepaid products with data allowances of 80GB and 88GB, available for HKD 100 and HKD 88 respectively[16]. - The net cash generated from operating activities for the six months ended September 30, 2021, was HKD 6,342,000, a significant improvement from a net cash used of HKD 9,504,000 in the same period of 2020[80]. Other Financial Information - Other income for the period was approximately HKD 0.7 million, a decrease of about 78.1% from approximately HKD 3.2 million in the same period last year[22]. - The effective tax rate for the period was approximately 16.2%, down from 17.4% in the same period last year[27]. - The company had no capital commitments as of September 30, 2021, compared to approximately HKD 0.3 million as of March 31, 2021[41]. - There were no significant contingent liabilities as of September 30, 2021[48]. - The group did not declare any dividends for the six months ended September 30, 2021, consistent with the same period in 2020[105].

Financial Performance - The company's revenue for the year ended March 31, 2021, decreased by approximately 32.0% to about HKD 136.0 million, compared to approximately HKD 200.0 million for the previous year[11]. - Net profit for the year decreased by approximately 59.4% to about HKD 10.8 million, down from approximately HKD 26.6 million in the previous year[11]. - The gross profit decreased by approximately HKD 21.1 million or 31.6% to about HKD 45.7 million, with a stable gross margin of approximately 33.6%[19]. - Other income for the year was approximately HKD 4.4 million, an increase of about 131.6% compared to approximately HKD 1.9 million for the year ended March 31, 2020[20]. - Selling and distribution expenses were approximately HKD 21.8 million, a decrease of about 7.2% from approximately HKD 23.5 million for the year ended March 31, 2020[22]. - Administrative expenses increased by approximately 17.4% to about HKD 15.5 million, up from approximately HKD 13.2 million for the year ended March 31, 2020[23]. - The group reported a net profit attributable to owners of approximately HKD 10.8 million, a decrease of about 59.4% from approximately HKD 26.6 million for the year ended March 31, 2020[26]. Business Operations - The company acquired two new prepaid products for sale during the year and obtained an additional thirteen products after March 31, 2021[11]. - The company plans to expand its sales network and increase the number of retailers to capture a larger market share among Indonesian and Filipino users[12]. - The company is negotiating with suppliers for more procurement discounts to mitigate the impact of the COVID-19 pandemic[12]. - The company opened two new self-operated retail stores in Mong Kok and Causeway Bay, bringing the total to seven self-operated stores[11]. - Sales to wholesalers and retailers decreased by approximately HKD 52.3 million, while sales from self-operated stores decreased by approximately HKD 11.7 million due to reduced visitor numbers[18]. - The company aims to provide efficient and convenient services to customers while complying with new regulatory requirements[12]. Financial Position - Inventory increased to approximately HKD 118.9 million, up from approximately HKD 68.9 million, representing an increase of about 50.0 million HKD[27]. - Current assets net value was approximately HKD 137.7 million, an increase from approximately HKD 129.1 million as of March 31, 2020[32]. - The current ratio increased from approximately 3.7 times to about 5.1 times due to inventory and other receivables increases[32]. - The group had bank and other borrowings of approximately HKD 18.9 million, compared to none as of March 31, 2020[33]. - The effective tax rate for the year was approximately 13.4%, down from approximately 16.4% for the year ended March 31, 2020[25]. Corporate Governance - The company is focused on maintaining high standards of corporate governance, as evidenced by the composition of its audit and remuneration committees[65]. - The independent directors bring a wealth of experience from various sectors, including finance, banking, and investment management, which supports strategic decision-making[61]. - The company has adopted the principles and code provisions of the Corporate Governance Code as the basis for its corporate governance practices[73]. - The board believes that it has complied with all applicable code provisions throughout the year ended March 31, 2021[74]. - The company has established written guidelines for employees regarding securities trading, ensuring compliance with the standard code for directors[75]. - The board consists of a balanced mix of executive, non-executive, and independent non-executive directors, ensuring effective oversight of the company's business[80]. Risk Management - The company faces significant risks related to customer concentration, where any loss of business from major customers could adversely affect operations and financial condition[161]. - The company also faces risks from supplier concentration, where any loss of business from key suppliers could negatively impact operations and financial condition[162]. - The board is responsible for preparing the financial statements for the year ended March 31, 2021, and has not identified any significant uncertainties affecting the company's ability to continue as a going concern[137][138]. - The company has implemented various policies to ensure effective risk management across operational, financial reporting, and compliance areas[130]. - An independent professional advisor has been appointed to conduct regular reviews of the risk management and internal control systems, with reports submitted to the audit committee at least annually[130]. Shareholder Information - The company declared a special dividend of HKD 0.1 per ordinary share on March 26, 2020, which was paid on April 27, 2020[164]. - The board does not recommend a final dividend for the year ending March 31, 2021[165]. - The company's distributable reserves as of March 31, 2021, amounted to HKD 66,184,000[179]. - The largest customer accounted for approximately 12.8% of total sales for the year, down from 16.7% in the previous year, while the top five customers represented 25.7% of total sales, down from 37.6%[184]. - The largest supplier accounted for approximately 75.5% of total purchases, an increase from 69.9% in the previous year[184].

Financial Performance - The group's revenue for the six months ended September 30, 2020, was approximately HKD 79.0 million, a decrease of about 24.3% compared to approximately HKD 104.4 million for the same period in 2019[14]. - Gross profit decreased from approximately HKD 35.5 million for the six months ended September 30, 2019, to approximately HKD 29.0 million, a reduction of about 18.3%[17]. - The net profit attributable to the company's owners for the period was approximately HKD 13.7 million, a decrease of about 11.6% compared to approximately HKD 15.5 million for the same period in 2019[24]. - Revenue for the six months ended September 30, 2020, was HKD 79,003,000, a decrease of 24.5% compared to HKD 104,431,000 in 2019[74]. - Gross profit for the same period was HKD 29,021,000, down 18.2% from HKD 35,481,000 in 2019[74]. - Profit before tax decreased to HKD 16,546,000, a decline of 13.4% from HKD 19,124,000 in the previous year[74]. - Net profit attributable to owners of the company was HKD 13,671,000, down 12.0% from HKD 15,543,000 in 2019[74]. - Basic and diluted earnings per share were HKD 3.42, compared to HKD 3.89 in the previous year, reflecting a decrease of 12.1%[74]. - The group incurred a total of HKD 49,982,000 in cost of goods sold for the six months ended September 30, 2020, compared to HKD 68,950,000 in 2019, reflecting a reduction of 27.5%[103]. Expenses and Costs - Sales and distribution expenses were approximately HKD 10.4 million, a decrease of about 10.3% compared to HKD 11.6 million for the same period in 2019[19]. - Administrative expenses decreased by approximately 12.1% to about HKD 5.1 million, mainly due to reduced employee costs[20]. - The total employee compensation for the period was approximately HKD 6.4 million, a decrease from HKD 7.0 million in the previous year[35]. - The group’s employee benefit expenses, including directors' remuneration, amounted to HKD 6,373,000 for the six months ended September 30, 2020, down from HKD 7,029,000 in 2019, a decrease of 9.3%[103]. Assets and Liabilities - As of September 30, 2020, the group's net current assets amounted to approximately HKD 141.2 million, an increase from HKD 129.1 million as of March 31, 2020[28]. - The current ratio improved from approximately 3.7 times as of March 31, 2020, to approximately 6.7 times as of September 30, 2020[28]. - The group's bank and other borrowings were approximately HKD 12.0 million as of September 30, 2020, compared to zero as of March 31, 2020[29]. - The total assets as of September 30, 2020, were HKD 165,717,000, a decrease from HKD 177,665,000 as of March 31, 2020[77]. - The company reported a total equity of HKD 149,212,000 as of September 30, 2020, an increase from HKD 135,541,000 as of March 31, 2020[77]. - The group’s total liabilities as of September 30, 2020, included accrued expenses of HKD 3,420,000, unchanged from March 31, 2020[119]. Cash Flow - Cash and cash equivalents at the end of the period were HKD 61,078,000, down from HKD 102,003,000 at the beginning of the period[84]. - Net cash used in operating activities was HKD (9,504,000), an improvement from HKD (36,529,000) in the same period last year[84]. Corporate Actions and Governance - The company did not recommend the payment of an interim dividend for the period[60]. - There were no share buybacks, sales, or redemptions of listed securities during the reporting period[59]. - The company maintained a sufficient public float of at least 25% of its issued shares as of the report date[64]. - The audit committee reviewed the financial statements for the six months ended September 30, 2020, which were not audited by external auditors but were discussed with management[69]. - The company has adopted the corporate governance code as a benchmark for its governance practices and has complied with its provisions during the reporting period[61]. - The company has not granted any share options under the share option scheme since its adoption date[58]. - There were no major contracts in which directors had a significant interest during the reporting period[54]. - The group did not declare any dividends for the six months ended September 30, 2020, consistent with the same period in 2019[109]. Future Plans and Developments - The company plans to expand its sales network and increase marketing activities to enhance market share among Indonesian and Philippine users[13]. - The company has opened a new self-operated retail store in Mong Kok, bringing the total to six stores[12]. Related Party Transactions - The company incurred rental expenses of HKD 468,000 paid to related parties for the six months ended September 30, 2020, consistent with the previous year[130]. - The company received consignment income of HKD 402,000 from a related party for the six months ended September 30, 2020, unchanged from the previous year[130]. - The company continues to engage in significant related party transactions, indicating ongoing business relationships[130]. Share Capital - The total issued share capital was HKD 4,000,000 with 400,000,000 shares as of September 30, 2020[31]. - As of September 30, 2020, the total number of issued shares of the company was 400,000,000, with Ms. Li Zhenyu holding 283,872,000 shares, representing 71% ownership[52]. - The company has issued 400,000,000 shares with a par value of HKD 0.01 per share, maintaining the same number of shares since March 31, 2020[126]. Miscellaneous - The group had capital commitments of approximately HKD 300,000 as of September 30, 2020, unchanged from March 31, 2020[38]. - There were no significant acquisitions, disposals, or investments during the period[37]. - The group has no significant contingent liabilities as of September 30, 2020[43]. - No significant events occurred after the reporting period that would materially affect the company's operations and financial performance[68]. - The company has adopted new and revised Hong Kong Financial Reporting Standards, which did not have a significant impact on the financial statements[93]. - The company's financial statements are unaudited as of September 30, 2020[123].

Financial Performance - For the fiscal year ended March 31, 2020, the company recorded a revenue increase of approximately 2.6% to about HKD 200.0 million, compared to approximately HKD 195.0 million in the previous year[10]. - The profit for the same period increased by approximately 67.3% to about HKD 26.6 million, up from approximately HKD 15.9 million in the previous year[10]. - The gross profit for the fiscal year was approximately HKD 66.8 million, with a gross profit margin decreasing from about 34.3% in the previous year to approximately 33.4%[18]. - Other income for the year ended March 31, 2020, was approximately HKD 1.9 million, a decrease of about 36.7% compared to approximately HKD 3.0 million for the year ended March 31, 2019[19]. - Sales and distribution expenses for the year ended March 31, 2020, were approximately HKD 23.5 million, a decrease of about 5.6% from approximately HKD 24.9 million in the previous year[22]. - Administrative expenses for the year ended March 31, 2020, were approximately HKD 13.2 million, a decrease of about 43.8% compared to approximately HKD 23.5 million in the previous year[24]. - Profit for the year ended March 31, 2020, was approximately HKD 26.6 million, an increase of about 67.3% from approximately HKD 15.9 million in the previous year[27]. Revenue Drivers and Market Strategy - The increase in revenue was primarily driven by sales to wholesalers and retailers within the sales network, which rose by approximately HKD 26.5 million, offset by a decrease in sales from self-operated retail stores by about HKD 21.5 million[17]. - The company plans to expand its business and increase market share in the prepaid products sector targeting Indonesian and Philippine consumers[11]. - The company intends to increase the number of retailers in its sales network and enhance advertising and marketing activities[11]. - A new self-operated retail store was leased in Mong Kok in May 2020, bringing the total number of self-operated stores to six[10]. Inventory and Assets - Inventory as of March 31, 2020, was approximately HKD 68.9 million, an increase of about 12.6 million from approximately HKD 56.3 million as of March 31, 2019[29]. - Current assets net value as of March 31, 2020, was approximately HKD 129.1 million, a decrease from HKD 146.2 million as of March 31, 2019[30]. - The company had no bank and other borrowings as of March 31, 2020, consistent with the previous year[31]. - The equity-to-debt ratio was zero as of March 31, 2020, as there were no outstanding interest-bearing bank borrowings[32]. Employee Compensation and Expenses - Total employee compensation for the year ended March 31, 2020, was approximately HKD 14.2 million, an increase from approximately HKD 11.2 million in the previous year[38]. Future Plans and Investments - The company plans to open five retail stores, with an allocated budget of HKD 27.0 million, which remains fully unutilized[41]. - A total of HKD 1.1 million has been spent on hiring additional sales personnel out of a planned HKD 1.6 million[41]. - Marketing and promotional activities have utilized HKD 1.8 million of the allocated HKD 9.8 million[41]. - The implementation of an enterprise resource planning system has seen only HKD 0.2 million spent from the planned HKD 1.9 million[41]. - The remaining unutilized proceeds are expected to be utilized in the next two financial years due to delays caused by social unrest and the COVID-19 pandemic[41]. - Future plans include exploring new business opportunities to enhance shareholder value[44]. Governance and Board Structure - The board of directors includes experienced professionals with backgrounds in finance, ensuring strong governance and oversight[58]. - The company has adopted the principles and code provisions of the Corporate Governance Code as the basis for its corporate governance practices[72]. - The board has confirmed compliance with all applicable code provisions throughout the year ending March 31, 2020[73]. - The board consists of a mix of executive, non-executive, and independent non-executive directors, ensuring a balanced governance structure[78]. - The company has established a written guideline for employees regarding securities trading, ensuring compliance with the standard code[74]. - The board is collectively responsible for the company's affairs and has a duty to provide guidance and oversight of the company's operations and financial performance[85]. Risk Management and Internal Controls - The company has a robust internal control and risk management system in place[85]. - The board is responsible for evaluating the effectiveness of the risk management and internal control systems, which are deemed effective and adequate for the fiscal year ending March 31, 2020[129]. - The company has implemented various policies and procedures to ensure effective risk management and compliance with applicable laws and regulations[128]. - The company has engaged an independent professional advisor to conduct regular reviews of the risk management and internal control systems[128]. Customer and Supplier Concentration - The company has a concentrated customer base, and any loss of business from major customers could significantly impact its operations and financial condition[160]. - The company also has a concentrated supplier base, with potential losses from major suppliers posing similar risks[161]. - The largest customer accounted for approximately 16.7% of total sales for the fiscal year ending March 31, 2020, compared to 19.0% in the previous year[184]. - The top five customers represented about 37.6% of total sales for the fiscal year ending March 31, 2020, up from 32.5% in the previous year[184]. - The single largest supplier accounted for approximately 69.9% of total purchases for the fiscal year ending March 31, 2020, down from 76.4% in the previous year[184]. Dividends and Shareholder Communication - The board declared a special dividend of HKD 0.1 per ordinary share on March 26, 2020, which was paid on April 27, 2020[163]. - The board did not recommend a final dividend for the fiscal year ending March 31, 2020[164]. - The company has no preset dividend payout ratio, and dividends are subject to the board's discretion based on financial conditions[152]. - The company has established a shareholder communication policy to ensure that shareholder concerns are addressed effectively[151].

Financial Performance - The group's revenue for the six months ended September 30, 2019, was approximately HKD 104.4 million, a slight increase of about 2.3% compared to approximately HKD 102.1 million for the same period in 2018[11]. - Gross profit increased by approximately HKD 1.3 million or 3.7% to about HKD 35.5 million, with a gross margin rising from approximately 33.5% to 34.0%[12]. - The net profit attributable to the company's owners was approximately HKD 15.5 million, a significant increase of about 256.1% compared to approximately HKD 4.4 million in the same period of 2018[20]. - Revenue for the six months ended September 30, 2019, was HKD 104,431,000, representing an increase from HKD 102,069,000 in the same period of 2018, a growth of approximately 2.3%[65]. - Gross profit for the same period was HKD 35,481,000, up from HKD 34,219,000 in 2018, reflecting a gross margin improvement[65]. - Profit before tax increased significantly to HKD 19,124,000 from HKD 7,327,000, marking a year-over-year increase of approximately 161.5%[65]. - Net profit for the period was HKD 15,543,000, compared to HKD 4,365,000 in the previous year, indicating a substantial increase of approximately 255.5%[65]. - Basic and diluted earnings per share rose to HKD 3.89 from HKD 1.37, representing an increase of approximately 184.4%[65]. - The company reported a total comprehensive income of HKD 15,543 thousand for the six months ended September 30, 2019, compared to HKD 4,365 thousand for the same period in 2018, showing significant improvement[69]. Expenses and Liabilities - Other income decreased by approximately 15.3% to about HKD 1.2 million, primarily due to a reduction in consignment income[13]. - Selling and distribution expenses were approximately HKD 11.6 million, a decrease of about 7.0% compared to HKD 12.4 million for the same period in 2018[14]. - Administrative expenses were approximately HKD 5.8 million, reflecting an increase of about 81.3% compared to adjusted administrative expenses of approximately HKD 3.2 million in the same period of 2018[15]. - The tax expense for the six months ended September 30, 2019, was HKD 3,581,000, an increase from HKD 2,962,000 in the same period of 2018[97]. - The total liabilities decreased slightly to HKD 4,996 thousand in lease liabilities from zero, indicating the adoption of new accounting standards[67]. Assets and Cash Flow - Inventory as of September 30, 2019, was approximately HKD 105.0 million, an increase of about HKD 48.7 million from approximately HKD 56.3 million as of March 31, 2019[21]. - As of September 30, 2019, the group's net current assets were approximately HKD 157.2 million, an increase from HKD 146.2 million as of March 31, 2019[22]. - The current ratio decreased from approximately 33.4 as of March 31, 2019, to approximately 14.2 as of September 30, 2019, due to the adoption of HKFRS 16, which recognized lease liabilities[22]. - The company's cash and cash equivalents decreased to HKD 50,761 thousand from HKD 87,504 thousand, a decline of about 42.0%[72]. - Net cash used in operating activities for the six months ended September 30, 2019, was HKD (36,529) thousand, compared to HKD (20,699) thousand for the same period in 2018, indicating a worsening cash flow situation[72]. - The company’s financing activities generated a net cash outflow of HKD (110) thousand for the six months ended September 30, 2019, compared to a net inflow of HKD 65,294 thousand in the same period of 2018[72]. Shareholder Information - The beneficial owner, Mr. Siu Muk Lung, held 284 million shares, representing 71% of the company's equity as of September 30, 2019[43]. - The company did not recommend the payment of an interim dividend for the review period[54]. - There were no share buybacks or repurchases of listed securities during the review period[53]. - The company maintained a sufficient public float of at least 25% of its issued shares as of the report date[56]. - The company issued 400 million shares with a par value of HKD 0.01 as of September 30, 2019, maintaining the same number of shares as of March 31, 2019[122]. - The company’s statutory capital increased from HKD 380,000 to HKD 100,000,000 due to the issuance of additional shares[123]. Future Plans and Investments - The group plans to open new self-operated retail stores and increase the number of retailers within its sales network to expand its market share in the prepaid products sector targeting Indonesian and Philippine users[9]. - The group plans to open five retail stores, with a budget of HKD 27.0 million allocated for this purpose[37]. - The remaining unutilized net proceeds of approximately HKD 38.4 million are held in interest-bearing deposits at licensed banks in Hong Kong[37]. - The group had no significant investments or capital commitments as of September 30, 2019[30][32]. Employee and Management Compensation - The total salary for 46 employees as of September 30, 2019, was approximately HKD 7.0 million, up from HKD 4.6 million as of September 30, 2018[27]. - The group incurred employee benefit expenses of HKD 7,029,000 for the six months ended September 30, 2019, which is an increase of 52.9% from HKD 4,597,000 in the same period of 2018[96]. - The total remuneration for key management personnel increased to HKD 2,300 million for the six months ended September 30, 2019, compared to HKD 771 million for the same period in 2018[128]. Corporate Governance - The company has adopted the principles and code provisions of the Corporate Governance Code as its corporate governance practices[55]. - No significant events occurred after the review period that would impact the group's operational and financial performance[59].

Financial Performance - The group's revenue for the year ended March 31, 2019, was approximately HKD 195.0 million, an increase of about 1.0% from approximately HKD 193.2 million for the year ended March 31, 2018[24]. - Gross profit increased by approximately 8.0% to about HKD 66.8 million for the year ended March 31, 2019, compared to approximately HKD 61.8 million for the previous year[25]. - The gross profit margin improved from approximately 32.0% for the year ended March 31, 2018, to approximately 34.3% for the year ended March 31, 2019, primarily due to higher discounts from suppliers[25]. - Other income for the year was approximately HKD 3.0 million, representing an increase of about 13.5% from approximately HKD 2.6 million for the previous year[26]. - Profit for the year ended March 31, 2019, was approximately HKD 15.9 million, a decrease of about 17.8% from HKD 19.4 million in 2018; adjusted profit excluding non-recurring listing expenses was approximately HKD 28.4 million, down about 1.4% from HKD 28.8 million in 2018[31]. Expenses and Costs - Selling and distribution expenses were approximately HKD 24.9 million for the year ended March 31, 2019, an increase of about 6.8% from approximately HKD 23.3 million for the previous year[28]. - Advertising and promotional expenses increased by approximately HKD 1.5 million compared to the previous year, contributing to the rise in selling and distribution expenses[28]. - Administrative expenses for the year ended March 31, 2019, were approximately HKD 23.5 million, an increase of about 46.1% from HKD 16.1 million in 2018, primarily due to non-recurring listing expenses[29]. Inventory and Assets - Inventory as of March 31, 2019, was approximately HKD 56.3 million, an increase of about HKD 23.8 million from HKD 32.5 million in 2018, due to bulk purchasing for higher procurement discounts[32]. - Current assets net worth as of March 31, 2019, was approximately HKD 146.2 million, up from HKD 60.9 million in 2018; current ratio increased from approximately 6.1 to 33.4[33]. Debt and Equity - The company had no bank or other borrowings as of March 31, 2019, remaining at zero since 2018[34]. - The equity-to-debt ratio was zero as of March 31, 2019, indicating no outstanding debts[35]. Employee Information - The total number of employees increased to 43 as of March 31, 2019, with total compensation for the year amounting to approximately HKD 11.2 million, up from HKD 9.3 million in 2018[41]. Corporate Governance - The company has adopted the principles and code provisions of the Corporate Governance Code as the basis for its corporate governance practices since its listing on September 27, 2018[68]. - The board believes that high standards of corporate governance are essential for protecting shareholders' interests and enhancing corporate value[68]. - The company has confirmed compliance with the standard code for securities transactions by directors from the listing date to March 31, 2019[69]. - The board is responsible for overseeing the group's business, strategic decisions, and performance, making objective decisions in the best interest of the company[70]. - The company has established written guidelines for employees regarding securities transactions to ensure compliance with sensitive price information regulations[69]. Risk Management - The company has established a robust internal control and risk management system to safeguard its operations[78]. - The board is responsible for risk management and internal control systems, ensuring they are effective in managing risks associated with achieving strategic goals[105]. - The company has implemented various policies and procedures to ensure effective risk management and compliance with applicable laws and regulations in Hong Kong[106]. Shareholder Information - The company has adopted a dividend policy without a preset payout ratio, allowing the board to propose dividends based on financial conditions[126]. - The company did not declare a final dividend for the year ending March 31, 2019, reflecting a cautious approach to cash distribution amid financial performance considerations[135]. - The available distributable reserves as of March 31, 2019, amounted to HKD 41,195,000, providing a basis for potential future dividends[148]. Management and Board Composition - 港亚控股有限公司的创始人蕭木龍先生自1995年起担任董事，负责领导董事会及监督集团运营[49]. - 执行董事及总经理鍾志輝先生于1995年加入集团，拥有超过20年的流动电话行业经验[50]. - 非执行董事马肇文先生在销售、市场推广及业务管理方面拥有超过25年的经验，曾任摩托罗拉移动通讯香港及台湾的总经理[51]. - The company has a strong management team with over 30 years of experience in the banking industry among its directors[61]. - The financial director has over 25 years of experience in auditing, finance, and company secretarial work[64]. Audit and Compliance - The external auditor was paid HKD 1,000,000 for audit services for the year ending March 31, 2019, with no non-audit services provided[115]. - The independent auditor's report confirms that the consolidated financial statements of the company reflect a true and fair view of its financial position as of March 31, 2019[195]. - The audit was conducted in accordance with the Hong Kong Auditing Standards, ensuring the independence of the auditors[196]. Future Outlook - The group plans to expand its business and increase market share in the prepaid products sector targeting Indonesian and Philippine consumers[20]. - Future outlook中，港亚控股有限公司将继续专注于市场扩张和新产品研发，以提升竞争力[49].