Financial Performance - The company's revenue increased by approximately 191% from about HKD 373.5 million in the previous reporting period to approximately HKD 1,086.2 million for the reporting year[7]. - EBITDA for the reporting year was approximately HKD 92.3 million, a significant increase of 1,164% compared to the previous period's profit of about HKD 7.3 million[7]. - The net profit for the reporting year was approximately HKD 60.3 million, compared to a net loss of about HKD 0.65 million in the previous reporting period[7]. - The company reported total revenue of approximately HKD 1,086.2 million, an increase of about 191% compared to the previous period's HKD 373.5 million[23]. - The company reported a gross profit of approximately HKD 51.8 million, an increase of about 896% compared to the previous period[25]. - Net profit for the year was approximately HKD 60.3 million, a turnaround from a net loss of HKD 0.65 million in the previous period[29]. - The group reported a profit of HKD 60.286 million for the year ending December 31, 2021, compared to a loss of HKD 652,000 in the previous period[31]. - EBITDA for the year was HKD 92.277 million, a significant increase from HKD 7.318 million in the previous period[31]. - The company reported total revenue of HKD 1,086,236,000 for the year ending December 31, 2021, compared to HKD 373,527,000 for the previous year, representing a significant increase[187]. - Gross profit for the year was HKD 51,766,000, with direct costs amounting to HKD 1,034,470,000, indicating a gross margin improvement[187]. - The net profit attributable to the company's owners was HKD 61,985,000, compared to a loss of HKD 1,699,000 in the previous year, marking a turnaround in profitability[194]. Business Strategy and Growth - The company aims to seek attractive growth opportunities in China and other regions to provide long-term financial returns to shareholders[8]. - The company aims to explore business opportunities in green buildings and green energy to enhance shareholder returns, aligning with national carbon neutrality goals[19]. - The company plans to strategically invest in high-growth industries, including the metaverse, photovoltaic and low-carbon industries, and new energy battery charging[21]. - The company is committed to developing green buildings and green energy to enhance shareholder returns and contribute to ecological living environments[8]. - The company is planning to expand its market presence in Southeast Asia, targeting a 25% increase in market share within the next two years[45]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[194]. Operational Challenges - The construction business environment in Hong Kong remains challenging, with pressure on gross profit and margins due to lower bid prices[10]. - The company primarily generates revenue from a limited number of clients, which poses a significant risk to its financial condition and operational performance if project numbers decrease[53]. - The company's revenue is largely dependent on winning non-recurring foundation and superstructure construction projects, with no guarantee of future contracts from clients[54]. - There are substantial risks associated with project completion and delivery, with potential delays exceeding one year due to various factors, including licensing delays and material shortages[60]. - The company may face penalties ranging from RMB 5,000 to RMB 30,000 for conducting construction without the necessary permits in China[56]. Employee and Management - The total employee cost for the year was approximately HKD 49.7 million, up from HKD 30.1 million in the previous period, with the number of employees increasing to 468 from 382[35]. - The company has a competitive compensation package to attract and retain suitable employees, with an annual review system in place for performance evaluation[78]. - The group employs 468 staff as of December 31, 2021, with a focus on achieving gender balance and providing equal opportunities[151]. - The average training duration provided in the reporting year was 14.5 hours per employee[163]. - A total of 70 male and 46 female employees received training during the reporting year[164]. Corporate Governance - The board of directors is committed to high levels of corporate governance, which is essential for enhancing shareholder value[96]. - The company has complied with all applicable corporate governance code provisions, except for the specific provision regarding the separation of the roles of chairman and CEO[96]. - The board consists of seven members, including two executive directors, two non-executive directors, and three independent non-executive directors, ensuring a balanced skill set[101]. - The audit committee has reviewed the accounting principles and policies adopted by the group, ensuring compliance with financial reporting standards[95]. - The board regularly reviews its corporate governance policies and practices to ensure ongoing compliance and effectiveness[98]. Environmental and Social Responsibility - The group has implemented BEAM Plus environmental certification for several projects, demonstrating its commitment to sustainable development[134]. - The group has established an environmental management system certified to ISO 14001:2015 standards to minimize environmental impacts[134]. - The group aims to balance maximizing shareholder returns with minimizing adverse environmental impacts[134]. - The company has implemented various energy-saving measures, including maintaining office temperatures between 24-26 degrees Celsius and using energy-efficient appliances[142]. - The company is committed to reducing its environmental impact through energy and water management initiatives[146]. Financial Position and Cash Flow - Total assets increased to HKD 772,181,000 from HKD 480,487,000 year-over-year, reflecting strong growth in the company's asset base[189]. - The company's equity attributable to owners rose to HKD 230,048,000, up from HKD 162,355,000, indicating improved financial health[189]. - The total liabilities increased to HKD 540,967,000 from HKD 318,030,000, primarily due to an increase in trade and other payables[191]. - The company reported cash and bank balances of HKD 50,373,000, slightly down from HKD 53,757,000 in the previous year[189]. - The company incurred interest payments of HKD (3,413) thousand, a significant increase from HKD (76) thousand in the prior period[196].

Revenue Performance - For the six months ended June 30, 2021, the revenue from foundation and superstructure construction was approximately HKD 84.6 million, an increase from HKD 58.1 million for the same period in 2020, accounting for about 27.0% of total revenue[12]. - The revenue from property management services was approximately HKD 19.0 million, with a managed area of approximately 1.53 million square meters, compared to no revenue in the same period of 2020, representing about 6.1% of total revenue[15]. - The revenue from the construction materials trading segment was HKD 140.7 million, significantly up from HKD 11.2 million in the same period of 2020, making up 44.9% of total revenue[16]. - The revenue from the catering supply chain business was HKD 27.5 million, with no revenue reported in the same period of 2020, representing about 8.8% of total revenue[17]. - The health and medical business generated revenue of HKD 36.9 million, up from HKD 8.5 million in the same period of 2020, accounting for approximately 11.8% of total revenue[19]. - The company reported a revenue of approximately HKD 3,134 million for the six months ending June 30, 2021, representing an increase of about 289.8% compared to HKD 804 million for the same period last year[21]. - Total revenue for the six months ended June 30, 2021, was HKD 313,420,000, compared to HKD 80,369,000 for the same period in 2020, indicating a significant increase[60]. - Revenue from foundation engineering and superstructure construction reached HKD 84,650,000, up from HKD 58,084,000 in the same period last year, representing a growth of 45.8%[58]. - The health and medical segment generated revenue of HKD 36,916,000, a significant increase from HKD 2,646,000 in the same period last year[58]. - The revenue from smart logistics and information systems was approximately HKD 4.7 million, an increase from HKD 2.64 million in the same period of 2020, accounting for about 1.5% of total revenue[18]. Financial Performance - The gross profit for the same period was approximately HKD 168.9 million, a significant increase of about 29,021% from approximately HKD 58,000 in the previous year, with a gross margin rising from 0.07% to 5.4%[23]. - The company recorded a net loss of approximately HKD 172 million for the six months ending June 30, 2021, compared to a net loss of about HKD 11.9 million for the same period last year[27]. - The net loss for the period was HK$17,154,000, compared to a net loss of HK$11,943,000 in the prior year, showing a worsening financial performance[41]. - The company reported a loss attributable to owners of HKD 15,072,000 for the six months ended June 30, 2021, compared to a loss of HKD 11,943,000 for the same period in 2020[75]. - The company experienced a cash outflow from operating activities of HK$31,175,000 during the period, indicating challenges in generating cash from core operations[47]. Assets and Liabilities - As of June 30, 2021, the company had cash and bank balances of approximately HKD 423 million, down from HKD 538 million as of December 31, 2020[28]. - The total assets increased to HK$560,337,000 as of June 30, 2021, from HK$480,487,000 as of December 31, 2020, indicating growth in the company's asset base[42]. - The total liabilities stood at HK$413,312,000 as of June 30, 2021, compared to the previous total of HK$367,954,000, reflecting an increase in financial obligations[44]. - The total liabilities increased to HKD 413,312,000 as of June 30, 2021, compared to HKD 318,030,000 as of December 31, 2020[70]. - Trade receivables increased to HKD 78,989,000 as of June 30, 2021, compared to HKD 38,025,000 as of December 31, 2020, representing a growth of 107.5%[77]. - Total trade and other receivables amounted to HKD 136,294,000 as of June 30, 2021, compared to HKD 78,809,000 as of December 31, 2020, reflecting an increase of 73.2%[77]. - Trade payables and accrued expenses reached HKD 170,163,000 as of June 30, 2021, compared to HKD 149,343,000 as of December 31, 2020, marking an increase of 13.9%[80]. Operational Developments - The company is expanding its construction business into various related sectors in China, including property development, property management, and health services, to diversify revenue sources[11]. - A new development project in Zhejiang, China, covering a total site area of 27,920 square meters and a total construction area of 37,356 square meters, is expected to be completed by December 2021[14]. - The company has ongoing construction projects, including a service agreement worth up to RMB 13.72 million for a project in Anhui Province, China[39]. - The company aims to achieve synergy across its various segments to enhance returns and create greater business opportunities[11]. - The company is cautiously managing its construction operations in Hong Kong due to challenges such as low bidding prices and rising costs[11]. Staffing and Expenses - As of June 30, 2021, the company employed 431 staff members, a significant increase from 94 staff members in the previous year[33]. - Administrative and other operating expenses increased by approximately 96.6% to about HKD 34.6 million, primarily due to the expansion of new business segments in China, resulting in an increase in employee costs[26]. - The company utilized approximately HKD 1.03 million of the proceeds for hiring additional staff and HKD 14.6 million for acquiring machinery and equipment during the reporting period[36]. - The management's remuneration for the period was approximately HKD 1,068,000, compared to HKD 2,800,000 for the same period last year[86]. Corporate Governance and Compliance - The company maintained compliance with corporate governance codes throughout the reporting period[90]. - The company has complied with the standards set out in the Code of Conduct for Securities Transactions by Directors throughout the reporting period[91]. - The audit committee, established on March 13, 2018, consists of one non-executive director and two independent non-executive directors, with responsibilities including reviewing financial statements and monitoring the effectiveness of internal controls[103]. - The company has adopted a share option plan effective from March 13, 2018, allowing for the issuance of up to 105,600,000 shares, representing 10% of the total issued share capital[98]. - The company did not declare an interim dividend for the period, maintaining the same stance as the previous period[40]. Financial Risks - The group continues to face various financial risks, including interest rate risk, credit risk, and liquidity risk[54]. - The company did not hold any significant investments or make any major acquisitions or disposals of subsidiaries during the reporting period[31]. - The company has not granted, exercised, canceled, or lapsed any share options under the share option plan since its effective date[98]. - The company did not recommend the payment of an interim dividend for the six months ended June 30, 2021, compared to no dividend in the previous period[102].

Financial Performance - The group's revenue increased by approximately 107% from about HKD 180.4 million in the previous reporting year to approximately HKD 373.5 million during the reporting period[8]. - EBITDA for the reporting period was approximately HKD 7.3 million, a significant improvement of 194.5% compared to a loss of approximately HKD 7.75 million in the previous reporting year[8]. - Net loss for the reporting period decreased to approximately HKD 652,000, compared to a net loss of approximately HKD 12.7 million in the previous reporting year[8]. - The group's revenue for the reporting period was approximately HKD 373.5 million, an increase of about 107% compared to HKD 180.4 million in the previous reporting year[20]. - The revenue from the foundation and superstructure construction segment was approximately HKD 189.0 million, accounting for about 50.6% of total revenue, up from HKD 177.8 million in the previous year[14]. - The construction materials trading segment generated revenue of approximately HKD 119.5 million, representing about 32% of total revenue, with no revenue reported in the previous year[17]. - The health and medical services segment saw revenue increase by approximately HKD 58.5 million, accounting for about 15.7% of total revenue, with no revenue reported in the previous year[18]. - The property management segment's revenue was approximately HKD 5.9 million, contributing about 1.6% to total revenue, with no revenue reported in the previous year[16]. - The group recorded a gross profit of approximately HKD 5.2 million, a decrease of about 26.7% compared to the previous reporting year, primarily due to reduced revenue from the COVID-19 pandemic and unexpected complexities in construction projects[22]. - Other income and net gains decreased to approximately HKD 3.2 million, down about 25.6% from approximately HKD 4.3 million in the previous year, mainly due to a reduction in machinery rental income by approximately HKD 3 million[23]. - Administrative and other operating expenses increased by approximately 32.5% from about HKD 36.3 million to approximately HKD 27.4 million, primarily due to new employee recruitment costs for developing new business segments[24]. - Income tax expenses rose by approximately 114.3% to about HKD 4.5 million from approximately HKD 2.1 million in the previous year, mainly due to deferred tax expenses related to land appreciation tax on investment properties[25]. - The company reported a loss attributable to owners of HKD 12,687,000 for the year, compared to a loss of HKD 749,000 in the previous period[196]. - The company's equity attributable to owners increased to HKD 162,355,000 from HKD 160,714,000, showing stability in shareholder value[192]. - The company has a cash and bank balance of HKD 53,757,000, down from HKD 114,462,000, indicating a need for cash management strategies[190]. Market and Business Expansion - The Chinese food and grocery market is expected to exceed RMB 4.7 trillion annually, indicating strong growth potential for the group[9]. - The company aims to expand its agricultural products and food supply chain business in 2021, including opening restaurants and providing logistics services[9]. - The group plans to leverage its smart logistics advantages and resources from its parent company to enhance its supply chain efficiency[9]. - The group will continue to seek attractive growth opportunities in China and other regions to deliver long-term financial returns to shareholders[8]. - The group aims to expand its construction business in China and explore diversified business opportunities in areas such as real estate development and smart logistics[11]. - The group is optimistic about the prospects of the Chinese market and believes that the development of upstream and downstream business chains will bring synergistic benefits[11]. - The company plans to focus on market expansion and new product development as part of its future strategy[196]. Construction and Development Projects - The group has expanded its construction-related business chain in China, including property management and health services[8]. - The group has acquired a property management company for a total consideration of RMB 3 million (approximately HKD 3.51 million), which will expand its market share in the property management services industry in China[16]. - The group plans to complete the "Rural Health and Wellness Complex" project in Zhejiang, China, by December 2021, with a total construction area of approximately 37,356 square meters[15]. - As of December 31, 2020, the company has a new development project in Zhejiang Province, China, covering a total site area of approximately 27,920 square meters and a total construction area of about 37,356 square meters[60]. Employee and Operational Management - The number of employees increased to 382 as of December 31, 2020, from 64 as of March 31, 2020, with total employee costs for the reporting period amounting to approximately HKD 30.1 million, up from approximately HKD 25.2 million in the previous year[34]. - The employee turnover rate during the reporting period was approximately 13.2%, with a male turnover rate of 18.7% and no female employees leaving[163]. - The group employed a total of 382 employees as of December 31, 2020, with a gender distribution of 255 males and 127 females[159]. - The group provides training and development programs to enhance employee skills and knowledge, including sponsorship for external training[166]. - The group has established an OHSAS 18001:2007 certified occupational health and safety management system to ensure a safe working environment[164]. - The group is dedicated to creating a safe, healthy, and comfortable working environment, fully complying with applicable laws and regulations[164]. Environmental and Sustainability Efforts - The company implemented BEAM Plus environmental certification for several projects, demonstrating its commitment to sustainable development[144]. - An ISO 14001:2015 certified environmental management system was established to enhance the company's ability to manage environmental impacts[145]. - The company is actively seeking to improve its operational efficiency and resource utilization to enhance its sustainability performance[141]. - The company maintained a commitment to environmental regulations and reported no significant non-compliance issues regarding air and greenhouse gas emissions, noise control, or waste management during the reporting period[155]. - The company encourages employees to adopt water-saving habits and has established wastewater treatment facilities on construction sites to recycle water for dust suppression and cleaning[152]. - The company has implemented various energy-saving measures, including the use of LED lighting and energy-efficient appliances, to optimize energy consumption in both office and construction sites[153]. Corporate Governance and Compliance - The company has a strong governance structure with a diverse board of directors and senior management team[45]. - The board consists of seven members, including two executive directors, two non-executive directors, and three independent non-executive directors, ensuring a balanced skill set and experience[107]. - The company has adopted a board diversity policy, considering factors such as gender, age, cultural background, and professional experience in board member selection[109]. - The company has maintained compliance with all applicable corporate governance code provisions during the reporting period[101]. - The board is committed to high standards of corporate governance to protect shareholder interests and enhance shareholder value[101]. - The company has established a whistleblowing policy to encourage employees to report any suspected corruption or misconduct without fear of retaliation[171]. Audit and Financial Reporting - The audit opinion confirms that the consolidated financial statements fairly reflect the group's financial position as of December 31, 2020[174]. - Key audit matters include the recognition of revenue and costs related to construction contracts, which involve significant estimates and judgments by management[178]. - The company identified the valuation of investment properties as a key audit matter due to significant estimates and judgments involved in the valuation process[180]. - The auditor assesses the appropriateness of accounting policies and estimates made by the board of directors[185]. - The independent auditor's report is issued by the auditing firm, confirming compliance with ethical requirements and independence[186]. Risks and Challenges - The company faces potential penalties ranging from RMB 5,000 to RMB 30,000 for construction without the necessary permits, which could impact its financial performance[58]. - The company’s property development business is subject to fluctuations in the Chinese real estate market, influenced by government macroeconomic control measures[60]. - The company must comply with extensive environmental, health, and safety laws, which may impose significant burdens or costs[59]. - The company’s ability to maintain its business licenses is critical, as failure to comply with regulations could lead to suspension or revocation of these licenses[59]. - The company faces significant development risks that may delay the completion or delivery of property development projects, which could take over a year before generating cash flow[62].

Revenue Performance - For the six months ended June 30, 2020, the revenue from the construction and building segment was approximately HKD 58.1 million, a decrease from approximately HKD 118.7 million for the same period in 2019, representing a decline of about 51%[11]. - The logistics services and information technology development segment generated revenue of approximately HKD 2.64 million for the six months ended June 30, 2020, compared to zero revenue for the same period in 2019, indicating a significant growth[13]. - The construction segment accounted for approximately 72.3% of the total revenue for the group, down from 100% in the previous year, highlighting the impact of the COVID-19 pandemic on operations[11]. - The group's revenue for the six months ended June 30, 2020, was approximately HKD 80.4 million, a decrease of 32.3% from HKD 118.7 million for the same period in 2019, primarily due to COVID-19 disruptions[16]. - Revenue from the health and medical business increased by approximately HKD 8.5 million, accounting for about 10.5% of total revenue, compared to no revenue in the same period of 2019[16]. - Revenue from the construction materials trading segment increased by approximately HKD 112 million, representing 13.9% of total revenue, compared to no revenue in the same period of 2019[16]. - The total external customer revenue for the six months ended June 30, 2020, was HKD 80,369 thousand, down from HKD 118,722 thousand for the same period in the previous year, reflecting a decrease of approximately 32.2%[59]. Financial Performance - The gross profit for the six months ended June 30, 2020, was HKD 58,000, a decline of approximately 94.3% from HKD 1.02 million in the same period of 2019, with a gross profit margin dropping to 0.07%[17]. - The group reported a net loss of approximately HKD 11.9 million for the six months ended June 30, 2020, compared to a net profit of approximately HKD 8.67 million in the same period of 2019[23]. - The company reported a loss of HKD 11.598 million for the three months ending June 30, 2020, compared to a loss of HKD 7.344 million for the same period in the previous year[36]. - The company reported a pre-tax loss of HKD 8,413 thousand for the six months ended June 30, 2020, compared to a pre-tax loss of HKD 7,249 thousand for the same period in the previous year[59]. - The company reported a net loss attributable to shareholders of HKD 11,598,000 for the three months ended June 30, 2020, compared to a loss of HKD 7,344,000 for the same period in 2019[66]. - The company incurred a total loss of HKD 11,598 million during the period from April 1, 2020, to June 30, 2020[40]. Operational Changes and Strategies - The company aims to expand its construction business in China and explore diversified business opportunities, including real estate development and health and medical services, leveraging its management experience[10]. - The company plans to utilize synergies from Cental Culture Resource Group Limited to enhance its revenue sources and operational efficiency[10]. - The company is focusing on enhancing customer satisfaction and operational effectiveness through the development of upstream and downstream related businesses[10]. - The group has five main divisions, including construction, logistics services, health and medical services, and building materials trading, aiming to create synergistic value across these segments[10]. - The company is focusing on expanding its health and medical services segment as part of its strategic initiatives[54]. Cash Flow and Financial Position - The group's cash and bank balances as of June 30, 2020, were approximately HKD 66.1 million, down from HKD 114.5 million as of March 31, 2020[24]. - The total cash and cash equivalents at the end of the period were HKD 66,046 million, down from HKD 70,010 million as of September 30, 2019[41]. - The company reported a net cash inflow from operating activities of HKD 9,842 million, an increase from HKD 7,819 million for the same period in 2019[41]. - The net cash used in investing activities was HKD (33,006) million, significantly higher than HKD (365) million for the same period in 2019[41]. - The company’s total assets as of June 30, 2020, were HKD 267.322 million, down from HKD 274.414 million as of March 31, 2020[38]. - Total liabilities increased to HKD 118,092,000 as of June 30, 2020, compared to HKD 113,700,000 as of March 31, 2020[62]. Shareholder and Governance Information - The company proposed a stock split, converting each existing share with a par value of HKD 0.01 into four shares with a par value of HKD 0.0025, effective August 5, 2020[33]. - The company did not recommend the payment of an interim dividend for the period, consistent with the previous period[33]. - The company has confirmed compliance with the corporate governance code throughout the reporting period[91]. - The company has maintained sufficient public float as required by the listing rules up to the report date[101]. - The company has not engaged in any purchase, sale, or redemption of its listed securities during the reporting period[100]. Segment Performance - The segment performance indicates a significant decline in profitability across various divisions, particularly in foundation engineering and superstructure construction, which reported a loss of HKD 5,013 thousand[55]. - The company introduced additional segments in health and medical services and building materials trading during the reporting period[54]. - The financing costs for the company were HKD 7,754 thousand for the three months ended June 30, 2020, compared to HKD 9,955 thousand for the same period in the previous year[55]. Employee and Management Information - The company’s employee costs, including directors' remuneration, were HKD 6,614,000 for the three months ended June 30, 2020, down from HKD 10,261,000 for the same period in 2019[64]. - The total management compensation for key management personnel during the period was approximately HKD 728,000, a decrease from HKD 3,867,000 for the same period in 2019, indicating a reduction of about 81%[80].

Financial Performance - The group's revenue for the reporting year was approximately HKD 180.4 million, a decrease of about 9.4% from approximately HKD 199.2 million in the previous year[22]. - Gross profit fell by 10.6% to approximately HKD 7.1 million from approximately HKD 8.0 million in the previous year, resulting in a loss margin of approximately HKD 12.7 million compared to a loss margin of approximately HKD 10.8 million in the previous year[19]. - The group reported a net loss of approximately HKD 12.7 million for the year, compared to a loss of approximately HKD 10.8 million in the previous year[27]. - EBITDA for the year was a loss of approximately HKD 7.7 million, a reduction of 19.8% from a loss of approximately HKD 9.7 million in the previous year[28]. - The company reported a loss before tax of HKD 10,550,000, compared to a loss of HKD 9,372,000 in the previous year, indicating a 12.6% increase in losses[196]. - Net loss for the year was HKD 12,687,000, which is a 8.1% increase from HKD 10,814,000 in 2019[196]. - The company incurred administrative and other operating expenses of HKD 27,381,000, which is an increase of 45.5% from HKD 18,852,000 in the previous year[196]. - Other income and gains increased to HKD 4,347,000 from HKD 1,512,000, reflecting a growth of 187.5%[196]. - The company reported a basic and diluted loss per share of HKD 4.81, compared to HKD 4.10 in the previous year, indicating a deterioration in performance[196]. Business Strategy and Opportunities - The group plans to explore diversified business opportunities in China, including real estate development, commercial property leasing, and environmental construction[19]. - The group aims to achieve sustainable income and balanced growth while delivering sustainable returns to shareholders[20]. - The company sees a bright outlook for the Chinese market and aims to diversify its revenue sources by expanding its construction business and exploring related sectors such as real estate development and smart logistics[41]. - The company believes that future developments in upstream and downstream related businesses will create synergies, enhance customer satisfaction, and strengthen its revenue base[41]. - The company is focused on exploring diversified business areas, including environmental construction and health services, to leverage synergies and resources[41]. Impact of COVID-19 - The COVID-19 pandemic caused temporary disruptions to construction projects, significantly impacting the group's performance in the second half of the reporting year[22]. - The group recorded a gross profit of approximately HKD 7.1 million, a decrease of about 10.6% compared to the previous year, primarily due to reduced revenue from the COVID-19 pandemic and unexpected complexities in construction projects[23]. Corporate Governance and Management - The company has established a strong governance structure with independent non-executive directors contributing to strategic oversight[49]. - The management team includes experienced professionals with over 15 years in real estate development and investment, enhancing the company's strategic capabilities[43][45][46]. - The company has a dedicated company secretary with over eight years of experience in corporate services, ensuring compliance and governance[52]. - The board of directors has proposed not to declare a final dividend for the reporting year, consistent with the previous year[40]. - The company has established a clear scope of authority for all board committees, which is regularly reviewed[125]. Employee and Operational Insights - The group has a total of 64 employees as of March 31, 2020, with a focus on achieving gender balance in the workforce[167]. - The employee turnover rate for the reporting year is approximately 13.2%, with a male turnover rate of 18.7%[172]. - The group maintains a performance review system for employee compensation, which is adjusted annually based on performance benchmarks[166]. - The group emphasizes employee training and development, providing resources for career advancement and skills enhancement[175]. Environmental and Social Responsibility - The company has implemented an environmental management system since November 2010 and has obtained ISO 14001 certification, ensuring compliance with applicable environmental laws[86]. - The company aims to enhance energy-saving measures and improve electricity consumption efficiency in the coming years[161]. - The group actively seeks opportunities to further reduce emissions and waste to minimize operational impact on the environment[163]. - The group is committed to fulfilling its corporate social and environmental responsibilities, contributing to community development through various initiatives[181]. Financial Position and Assets - Total assets increased to HKD 274,414,000 from HKD 202,087,000, representing a growth of 35.7%[199]. - Cash and bank balances rose significantly to HKD 114,462,000, up from HKD 62,633,000, marking an increase of 83%[199]. - The company’s total equity decreased to HKD 160,714,000 from HKD 173,499,000, a decline of 7.4%[199]. Risk Management - The company’s financial performance and outlook may be significantly affected by various identified risks and uncertainties[59]. - The company has established risk management policies to identify, assess, and manage key business risks, with senior management overseeing these processes[142]. - The company has not established an internal audit department, but the board directly oversees risk management and internal controls with sufficient measures in place[142].

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].