Financial Performance - The group's revenue for the period was HKD 104.9 million, an increase of approximately 3.8% compared to HKD 101.0 million in the previous period[13]. - Gross profit for the period was approximately HKD 14 million, a significant decrease of about 89.5% from approximately HKD 13.6 million in the previous period, resulting in a gross margin decline from 13.5% to 1.4%[13]. - The group recorded a net loss of approximately HKD 73 million for the period, compared to a net profit of approximately HKD 4.3 million in the previous period[16]. - The gross profit for the period was HKD 1.43 million, with an operating loss of HKD 9.96 million, compared to an operating profit of HKD 5.64 million in the previous year[28]. - The net loss for the period was HKD 7.34 million, compared to a profit of HKD 4.27 million in the same period last year[28]. - The total comprehensive income for the period ended April 1, 2019, was HKD 71,573,000, down from HKD 82,387,000 in the previous period[32]. - The unaudited total comprehensive income as of September 30, 2019, was HKD 64,229,000, compared to HKD 86,660,000 in the same period of the previous year, indicating a decrease of approximately 26%[32]. - The company reported a loss of approximately HKD 7,344,000 for the six months ended September 30, 2019, compared to a profit of approximately HKD 4,273,000 for the same period in 2018[70]. Cash and Liquidity - The group had cash and bank balances of approximately HKD 70.0 million as of September 30, 2019, up from approximately HKD 62.6 million as of March 31, 2019[17]. - As of September 30, 2019, the net cash generated from operating activities was HKD 7,819,000[34]. - The cash and cash equivalents at the end of the period increased to HKD 70,010,000 from HKD 62,633,000 at the beginning of the period, representing a net increase of HKD 7,377,000[34]. - The current ratio decreased from 7.0 times as of March 31, 2019, to 6.4 times as of September 30, 2019[17]. - The debt-to-equity ratio was 0.5% as of September 30, 2019, compared to zero as of March 31, 2019[18]. Expenses and Costs - Administrative and other operating expenses increased by approximately 12.4% to about HKD 10.0 million from approximately HKD 8.9 million in the previous period[14]. - Total employee costs, including directors' remuneration, amounted to HKD 10,261,000, a decrease from HKD 10,488,000 in the previous year[70]. - The company incurred capital expenditures of approximately HKD 605,000 for property, plant, and equipment, down from HKD 1,149,000 in the previous year[72]. Contracts and Operations - The group had nine contracts on hand with a total original contract value of HKD 489.9 million as of September 30, 2019, compared to eight contracts valued at approximately HKD 403.3 million in the previous period[12]. - The company confirmed that all revenue recognized during the period was derived from construction contracts, specifically from ground engineering and superstructure works[66]. - The group anticipates that the operating environment will remain challenging, impacting gross profit and margins due to reduced bidding prices[12]. Accounting and Financial Reporting - The company has adopted HKFRS 16, which has replaced HKAS 17, impacting the accounting policies related to leases[43]. - The initial measurement of lease liabilities includes the present value of lease payments that are not paid at the commencement date[44]. - The company recognizes right-of-use assets at the commencement date, measured at cost less accumulated depreciation and impairment losses[48]. - The company has applied exemptions for short-term leases and low-value asset leases, recognizing lease payments as expenses on a straight-line basis[45]. - The total assets and liabilities will reflect the impact of the new accounting standards, although no significant impact on financial performance is expected[40]. - The company did not reassess contracts that were not identified as leases prior to the initial application of HKFRS 16, maintaining consistency in accounting treatment[56]. - The company’s accounting estimates and judgments remained consistent with those used in the annual financial statements, ensuring reliability in financial reporting[62]. Employee and Management - As of September 30, 2019, the group employed 42 staff, with total employee costs amounting to approximately HKD 103 million, an increase from approximately HKD 10.5 million in the previous period[20]. - The remuneration for key management personnel was approximately HKD 3,867,000, an increase from HKD 3,466,000 in the previous year[85]. Corporate Governance - The company did not declare an interim dividend for the period, compared to no dividend in the previous period[27]. - The company did not recommend the payment of an interim dividend for the period, consistent with the previous period[71]. - There were significant changes in the board of directors on October 4, 2019, including the appointment of new executive and non-executive directors[106]. - The audit committee was established on March 13, 2018, in compliance with Listing Rule 321, consisting of one non-executive director and two independent non-executive directors[108]. - The audit committee's main responsibilities include recommending the appointment and removal of external auditors and reviewing their independence[108]. - The interim financial results for the group have been reviewed and approved by the audit committee, ensuring compliance with applicable accounting standards and regulations[109].

Financial Performance - The company's revenue for the period decreased by approximately 7.6% to HKD 199.2 million from HKD 215.7 million in the previous period[6]. - Gross profit fell significantly by approximately 84.3% to HKD 8.0 million, compared to HKD 50.7 million in the previous period, resulting in a loss of approximately HKD 10.8 million[4][7]. - The gross profit margin dropped to approximately 4.0% from about 23.5% in the previous period, primarily due to increased direct costs[7]. - The company recorded a net loss of approximately HKD 10.8 million for the period, compared to a net profit of approximately HKD 10.7 million in the previous period[11]. - Total revenue for the year was HKD 199,228,000, a decrease of 7.2% from HKD 215,692,000 in the previous year[140]. - Direct costs amounted to HKD 191,260,000, resulting in a gross profit of HKD 7,968,000, down from HKD 50,673,000 the previous year[140]. - The company reported a loss before tax of HKD 9,372,000 compared to a profit of HKD 17,082,000 in the prior year[140]. - Net loss for the year was HKD 10,814,000, contrasting with a profit of HKD 10,728,000 in the previous year[140]. - Basic and diluted loss per share was HKD (4.10), compared to earnings of HKD 5.40 per share in the previous year[140]. Income and Expenses - Other income for the period was approximately HKD 1.5 million, compared to HKD 138,000 in the previous period[8]. - Administrative and other operating expenses decreased by approximately 44.1% to HKD 18.9 million from about HKD 33.7 million in the previous period[9]. - Income tax expense decreased by approximately 77.3% to HKD 1.4 million from about HKD 6.4 million in the previous period[10]. - Administrative and other operating expenses decreased to HKD 18,852,000 from HKD 33,729,000, indicating a reduction in operational costs[140]. - The company recognized a tax expense of HKD 1,442,000, down from HKD 6,354,000 in the previous year, reflecting improved tax efficiency[140]. Contracts and Business Strategy - The company had 6 contracts on hand with a total original contract value of approximately HKD 336.8 million as of March 31, 2019, down from 18 contracts valued at approximately HKD 724.8 million a year earlier[5]. - The company plans to adopt a more prudent approach in project selection and cost control to maintain competitiveness in the industry[4]. - The company aims to leverage resources from its listing on the main board of the Stock Exchange to capture future business opportunities for maximum shareholder returns[4]. - The company’s revenue mainly comes from non-recurring foundation and superstructure construction projects, with future success dependent on winning new contracts[32]. Financial Position - As of March 31, 2019, the company had cash and bank balances of approximately HKD 62.6 million, down from HKD 103.1 million as of March 31, 2018, primarily due to a decrease in trade and other payables by approximately HKD 9.0 million[11]. - The current ratio increased from 5.8 times as of March 31, 2018, to 7.0 times as of March 31, 2019, mainly due to a reduction in trade and other payables[11]. - Total assets decreased from HKD 225,531 million in 2018 to HKD 202,087 million in 2019, a decline of approximately 10.4%[142]. - Cash and bank balances decreased significantly from HKD 103,079 million in 2018 to HKD 62,633 million in 2019, representing a drop of about 39.3%[148]. - Total liabilities decreased from HKD 38,378 million in 2018 to HKD 28,588 million in 2019, a reduction of approximately 25.5%[144]. - The company's total equity decreased from HKD 187,153 million in 2018 to HKD 173,499 million in 2019, a decline of about 7.3%[145]. Corporate Governance - The company has a strong board with members holding various significant positions in other listed companies, enhancing its governance and oversight capabilities[21][22][23]. - The management team includes professionals with extensive qualifications and experience in accounting, finance, and property management, contributing to strategic decision-making[20][21][22][23]. - The company emphasizes the importance of corporate governance and compliance through its audit and remuneration committees led by experienced directors[21][22]. - The board of directors is responsible for establishing appropriate corporate governance policies and procedures to meet the company's governance objectives[68]. - The board has established three committees: Audit Committee, Nomination Committee, and Remuneration Committee to oversee specific aspects of the company's affairs[70]. Environmental and Social Responsibility - The company has implemented an environmental management system since November 2010 and has obtained ISO 14001 certification, ensuring compliance with environmental laws without incurring significant costs during the period[52]. - The company achieved a reduction in nitrogen oxides (NOx) emissions from 85.18 kg in 2018 to 71.79 kg in 2019, representing a decrease of approximately 15.5%[107]. - The company has adopted BEAM Plus environmental certification for several projects, demonstrating its commitment to sustainable development[104]. - The group has implemented various energy-saving measures, including maintaining office temperatures between 24-26 degrees Celsius and using energy-efficient appliances[111]. - The group encourages the use of soft copy formats to reduce paper usage, aligning with sustainable practices[113]. Employee and Workplace Safety - The workforce consists of 42 employees, with a focus on achieving gender balance and providing equal opportunities[116]. - Employee turnover rate during the reporting period was approximately 6%, with 7% of male employees leaving and no female employees departing[120]. - The group reported 0 work-related deaths and a work-related death rate of 0% for the year[122]. - The group conducts regular safety inspections on project sites to ensure compliance with health and safety standards[121]. - The company emphasizes the importance of employee training and development, regularly sponsoring employees for external training programs[123]. Risk Management - The company has identified several key risks and uncertainties that could impact its financial status and business prospects[31]. - The company faces risks related to project cost estimation; inaccuracies may lead to cost overruns or losses[33]. - The board is responsible for the risk management and internal control systems, which align with the COSO Integrated Framework 2013 principles[93]. Shareholder Information - No final dividend has been proposed for the period[17]. - The company did not recommend a final dividend for the period, compared to no dividend in the previous period[29]. - The major shareholder, Profound Contractors Limited, holds 198,000,000 shares, representing 75% of the total shares[42]. - The company has established a dividend policy to maintain a balance between sufficient capital development and rewarding shareholders, considering factors such as financial performance and capital expenditure needs[92].