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].