香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈的內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示，概不對因本公佈全部或任何部份內容而產生或因倚賴該等內 容而引致的任何損失承擔任何責任。 RI YING HOLDINGS LIMITED 日贏控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1741） 截至二零二二年九月三十日止年度的 年度業績公佈 及恢復買賣 財務摘要 • 收益由截至二零二一年九月三十日止年度約223.1百萬港元減少約50.6%至截至二零二二年九月 三十日止年度約110.3百萬港元。 • 本集團於截至二零二二年九月三十日止年度產生毛損約87.0百萬港元，而截至二零二一年九月 三十日止年度毛利為約20.9百萬港元。 ‧ 本集團於截至二零二二年九月三十日止年度亦錄得毛損率約78.9%，而截至二零二一年九月 三十日止年度毛利率為9.4%。 ‧ 截至二零二一年九月三十日止年度的本公司擁有人應佔虧損為約21.3百萬港元，而截至二零 二二年九月三十日止年度虧損為約135.8百萬港元。 ...

Financial Performance - Revenue for the six months ended March 31, 2022, was HKD 89,138,000, an increase of 14.9% compared to HKD 77,567,000 for the same period in 2021[7] - Gross loss for the period was HKD 11,908,000, improved from a gross loss of HKD 31,685,000 in the previous year[7] - Operating loss decreased to HKD 37,197,000 from HKD 52,911,000 year-on-year, reflecting a reduction of 29.8%[7] - Total comprehensive loss for the period was HKD 37,538,000, compared to HKD 53,271,000 in the same period last year, indicating a 29.5% improvement[9] - Basic and diluted loss per share was HKD 4.56, an improvement from HKD 6.46 in the previous year[9] - The company reported a loss of HKD 36,505,000 during the period, contributing to a total comprehensive loss of HKD 37,538,000[18] - The group recorded a loss of approximately HKD 37.5 million for the six months ended March 31, 2022, compared to a loss of HKD 53.3 million in the same period of the previous year[103] Assets and Liabilities - Total assets as of March 31, 2022, were HKD 331,593,000, down from HKD 350,575,000 as of September 30, 2021[11] - Cash and cash equivalents decreased to HKD 76,895,000 from HKD 105,911,000, a decline of 27.4%[11] - Total liabilities increased to HKD 189,663,000 from HKD 171,107,000, representing an increase of 10.9%[14] - Non-current assets, including property, plant, and equipment, decreased to HKD 9,533,000 from HKD 12,689,000, a decline of 25.5%[11] - As of March 31, 2022, the total equity amounted to HKD 141,930,000, a decrease from HKD 179,468,000 as of October 1, 2021, reflecting a decline of approximately 21%[18] - The total cash and bank deposits as of March 31, 2022, were HKD 76,895 million, down from HKD 105,911 million as of September 30, 2021[71] - Trade payables as of March 31, 2022, were HKD 16,475 million, an increase from HKD 9,578 million as of September 30, 2021[77] Revenue Breakdown - Revenue from foundation and site formation works was HKD 48,191,000, up 27% from HKD 37,870,000 in the previous year[35] - Revenue from other construction works increased by 94% to HKD 29,666,000 from HKD 15,307,000 year-on-year[35] - Revenue recognized over time was HKD 86,404,000, representing a 22% increase from HKD 70,579,000 in the prior year[35] - Revenue from health management and consulting business decreased from approximately HKD 7.0 million for the six months ended March 31, 2021, to approximately HKD 2.7 million for the six months ended March 31, 2022, due to COVID-19 impacts[92] Operational Efficiency - The company is focusing on improving operational efficiency and exploring new market opportunities to enhance future performance[7] - The segment performance showed a loss of HKD 11,908,000 for the first half of 2022, compared to a loss of HKD 31,685,000 in the same period of 2021, indicating an improvement in operational efficiency[44] - The gross loss margin for general building works and related services was approximately 350.2% for the six months ended March 31, 2022, compared to 309.2% in the previous year, primarily due to delayed payment certificates for a major project[98] Future Outlook and Strategy - The overall outlook for the construction industry and business environment remains severe, with ongoing waves of COVID-19 potentially affecting operations[93] - The company plans to continue prudent financial management and cost control in response to the uncertain business environment[93] - The company aims to enhance its product portfolio to seize opportunities and adapt to market demands during the pandemic[93] - The company will continue to seek additional qualifications and enhance financial resources to prepare for bidding on suitable public sector projects[93] - The company is exploring other suitable business opportunities and investment chances to drive growth[93] Corporate Governance - The company is committed to maintaining high levels of corporate governance, fully complying with the corporate governance code during the reporting period[148] - The audit committee was established on September 17, 2018, and is responsible for reviewing financial information, internal controls, and risk management systems[150] - All directors have fully complied with the required standards and codes of conduct regarding securities trading during the six months ending March 31, 2022[141]

Financial Performance - Revenue for the six months ended March 31, 2022, was HKD 89,138,000, an increase of 14.5% compared to HKD 77,567,000 for the same period in 2021[1] - Gross loss for the period was HKD 11,908,000, improved from a gross loss of HKD 31,685,000 in the previous year[1] - Operating loss decreased to HKD 37,197,000 from HKD 52,911,000 year-on-year, reflecting a reduction of 29.8%[1] - The net loss for the period was HKD 37,453,000, compared to a net loss of HKD 53,259,000 in the prior year, indicating a 29.6% improvement[1] - Basic and diluted loss per share was HKD 4.56, down from HKD 6.46 in the same period last year[3] - The company reported a total loss before tax of HKD 37,441 thousand for the six months ended March 31, 2022, compared to a loss of HKD 53,325 thousand for the same period in 2021[28] - The group reported a pre-tax loss of HKD 36,505,000 for the six months ended March 31, 2022, compared to a loss of HKD 51,660,000 in the previous year, indicating an improvement of 29.3%[38] - The group reported a loss of approximately HKD 37.5 million for the six months ending March 31, 2022, compared to a loss of HKD 53.3 million in the same period of the previous year[66] Revenue Breakdown - Revenue from foundation and site preparation works was HKD 48,191 thousand, up 27.1% from HKD 37,870 thousand in the previous year[22] - Other construction works generated revenue of HKD 29,666 thousand, significantly higher than HKD 15,307 thousand in the previous year, marking an increase of 94.5%[22] - Revenue from health product sales decreased to HKD 1,522 thousand from HKD 6,914 thousand, indicating a decline of 78.0%[22] - Revenue from Hong Kong increased to HKD 86,404,000 for the six months ended March 31, 2022, up from HKD 70,579,000 in the same period last year, representing a growth of 22.5%[31] - Revenue from China decreased to HKD 2,734,000 for the six months ended March 31, 2022, down from HKD 6,988,000, reflecting a decline of 60.9%[31] - Revenue from health management and consulting business in China decreased from approximately HKD 7.0 million for the six months ended March 31, 2021, to approximately HKD 2.7 million for the six months ended March 31, 2022, due to COVID-19 and public health emergency policies[55] Assets and Liabilities - Total assets as of March 31, 2022, were HKD 331,593,000, a decrease from HKD 350,575,000 as of September 30, 2021[5] - Total liabilities increased to HKD 189,663,000 from HKD 171,107,000, representing a rise of 10.8%[9] - Cash and cash equivalents decreased to HKD 76,895,000 from HKD 105,911,000, a decline of 27.4%[7] - Trade receivables, net of impairment losses, increased to HKD 33,584,000 as of March 31, 2022, compared to HKD 17,532,000 as of September 30, 2021, representing an increase of 91.6%[44] - The group's current assets net value was approximately HKD 133.0 million as of March 31, 2022, down from HKD 167.0 million as of September 30, 2021[85] - The total equity attributable to the owners of the company was approximately HKD 145.6 million as of March 31, 2022, compared to HKD 182.2 million as of September 30, 2021[85] - The total debt, including lease liabilities, was approximately HKD 2.9 million as of March 31, 2022, down from HKD 4.0 million as of September 30, 2021[85] - The capital debt ratio was approximately 2.0% as of March 31, 2022, slightly decreased from 2.2% as of September 30, 2021[93] Operational Highlights - The group has 44 ongoing construction projects with a total contract value of approximately HKD 780.4 million as of March 31, 2022, compared to 37 projects valued at HKD 742.1 million as of September 30, 2021[51] - The total contract value of ongoing projects increased by approximately 5.5% from the previous period[51] - The group provides construction-related consulting services, including engineering advice, project supervision, and contract management[51] - The group has made progress in its business strategy, including the acquisition of new machinery and equipment to enhance operational capabilities[68] - The group has upgraded its existing hardware and purchased new computer facilities as part of its investment in new information systems[74] - The group has increased capital in two subsidiaries to support its business strategy[68] Employee and Cost Management - The total employee cost for the six months ended March 31, 2022, was approximately HKD 12.8 million, compared to HKD 11.7 million for the same period in 2021[97] - The group had 164 employees as of March 31, 2022, an increase from 62 employees as of March 31, 2021, primarily due to recruitment for the development of health management and consulting services[97] - Administrative and other operating expenses increased by approximately HKD 4.1 million or 17.2%, totaling HKD 28.4 million, primarily due to increased employee costs related to business development in China[63] - The company has committed to using government subsidies for salary expenses and will not reduce employee numbers below a specified level during the designated period[24] - The company plans to continue prudent financial management and cost control in response to the uncertain business environment[56] Corporate Governance - The company has adopted a share option scheme allowing the board to grant options to employees, directors, and major shareholders, with a maximum issuance limit of 10% of the total issued shares as of the listing date[103] - The total number of shares that can be issued under the share option scheme and any other option plans cannot exceed 1% of the company's issued shares within any 12-month period[104] - No share options were granted, exercised, expired, or lapsed under the scheme during the six months ending March 31, 2022[106] - The company has fully complied with the corporate governance code as per the listing rules during the reporting period[107] - The audit committee, established on September 17, 2018, is chaired by an independent non-executive director and includes members with appropriate professional qualifications[108] - The interim condensed consolidated financial statements for the six months ending March 31, 2022, were not audited or reviewed by independent auditors[110] Future Outlook - The company expects that the application of new and revised Hong Kong Financial Reporting Standards will not have a significant impact on future consolidated financial statements[20] - The company is currently evaluating the impact of new accounting standards that will come into effect after January 1, 2023[19] - The group aims to enhance its product portfolio in health management to adapt to market demands during the pandemic[56] - The company is preparing to bid for suitable public sector projects by obtaining additional qualifications and enhancing financial resources[56] - The company is exploring other suitable business opportunities and investment prospects to drive growth[56] - The construction industry and business environment remain challenging due to fluctuating COVID-19 cases[56]

Financial Performance - The total revenue for the year ended September 30, 2021, was approximately HKD 223.1 million, a decrease of about 26.6% compared to HKD 303.9 million for the year ended September 30, 2020[22]. - The company recorded a net loss of approximately HKD 23.9 million for the year ended September 30, 2021, compared to a net profit of approximately HKD 10.2 million for the previous year[22]. - The company's revenue decreased from approximately HKD 303.9 million for the year ended September 30, 2020, to approximately HKD 223.1 million for the year ended September 30, 2021, representing a decline of about HKD 80.8 million or 26.6%[32]. - The revenue from general construction and related services dropped significantly from HKD 180.3 million (59.3% of total revenue) in 2020 to HKD 70.6 million (31.6% of total revenue) in 2021[33]. - The health management and consulting business revenue decreased from approximately HKD 21.9 million (7.2% of total revenue) in 2020 to approximately HKD 14.4 million (6.5% of total revenue) in 2021[33]. - Gross profit fell from approximately HKD 36.0 million in 2020 to approximately HKD 20.9 million in 2021, a decrease of about HKD 15.1 million or 42.1%[37]. - The gross profit margin declined from approximately 11.9% in 2020 to 9.4% in 2021[37]. - Other income, gains, and losses decreased by approximately HKD 2.6 million or 50.7% to approximately HKD 2.6 million for the year ended September 30, 2021, primarily due to a reduction in bank interest income[39]. - Administrative and other operating expenses increased by approximately HKD 13.3 million or 44.4% to approximately HKD 43.2 million for the year ended September 30, 2021, mainly due to new lease agreements and increased employee costs related to business expansion in China[40]. - The company recorded a tax credit of approximately HKD 1.0 million for the year ended September 30, 2021, compared to a tax expense of approximately HKD 0.7 million for the year ended September 30, 2020[41]. Construction Projects and Contracts - As of September 30, 2021, the company had 37 construction projects on hand with a total contract value of approximately HKD 742.1 million, down from HKD 790.1 million in the previous year[27]. - Approximately HKD 496.5 million of the total contract value was recognized as revenue as of September 30, 2021[27]. - The gross loss margin for general construction and related services was approximately 1.6% in 2021, compared to a gross profit margin of about 10.9% in 2020[38]. - The group had a performance guarantee obligation of approximately HKD 16.0 million for construction contracts as of September 30, 2021, down from HKD 21.9 million in 2020[67]. Strategic Plans and Market Adaptation - The company plans to enhance its product portfolio by launching new healthcare products to adapt to the market demand for health management and consulting services in China[23]. - The company will continue to adopt prudent financial management and cost control while seeking suitable business and investment opportunities to drive growth[23]. - The company aims to invest in human resources and information systems to strengthen operational capabilities and efficiency[31]. - The company plans to utilize the remaining proceeds conservatively due to the unstable economic environment caused by the prolonged COVID-19 outbreak[53]. - The company is focused on expanding its market presence through strategic appointments and partnerships in the engineering sector[87]. Leadership and Governance - Liu Zhiqiang, the CEO, has over 40 years of engineering experience and has held various senior positions in engineering firms[82]. - The company has a strong leadership team with members holding significant qualifications and experience in engineering and finance[90][91]. - The company has a robust governance structure with independent directors overseeing key committees, ensuring accountability and transparency[90][91]. - The board consists of three executive directors and three independent non-executive directors, with independent directors exceeding one-third of the board as required by listing rules[112]. - The company has established four board committees: remuneration, nomination, audit, and investment, each with a clear written scope of authority[123]. Environmental, Social, and Governance (ESG) Initiatives - The ESG report outlines the company's measures and performance in sustainable development, enhancing stakeholder confidence[174]. - The company reported an increase in NOx emissions to 0.007 tons in 2021 from 0.005 tons in 2020, SOx emissions rose to 0.0002 tons from 0.0001 tons, and PM emissions increased to 0.0005 tons from 0.0004 tons, attributed to more construction sites[189]. - The total greenhouse gas emissions from scope one increased due to the rise in construction sites, indicating a need for enhanced monitoring and efficiency measures[193]. - The company aims to reduce its operational emissions and enhance resilience against climate change impacts through proactive measures[186]. - The company has a dedicated team to oversee ESG matters and regularly reviews its sustainability policies to adapt to stakeholder needs[181].

Financial Performance - The total revenue for the year ended September 30, 2020, was approximately HKD 303.9 million, a decrease of about 6.5% from HKD 325.2 million for the year ended September 30, 2019[8]. - Gross profit increased by approximately 57.9% to HKD 36.0 million for the year ended September 30, 2020, compared to HKD 22.8 million for the previous year[8]. - The net profit for the year ended September 30, 2020, was approximately HKD 10.2 million, a significant recovery from a net loss of HKD 11.1 million for the year ended September 30, 2019[8]. - Total revenue for the year ended September 30, 2020, was approximately HKD 303.9 million, a decrease from HKD 325.2 million for the previous year, primarily due to delays in foundation and site preparation works and lower completion amounts for slope engineering projects[17]. - Cost of sales decreased by approximately HKD 34.5 million or 11.4% to approximately HKD 267.9 million for the year ended September 30, 2020, driven by the corresponding decrease in revenue[18]. - Gross profit increased by approximately HKD 13.2 million or 57.9% to approximately HKD 36.0 million, with the overall gross profit margin rising from 7.0% to 11.9%[19]. - Other income increased by approximately HKD 2.4 million to approximately HKD 5.2 million, mainly due to government subsidies related to epidemic prevention and interest from bank deposits[21]. - Administrative and other operating expenses decreased by approximately HKD 5.0 million or 14.3% to approximately HKD 29.9 million, attributed to reductions in legal and professional fees[22]. - The health management and consulting business improved from a gross loss margin of approximately -46.7% in 2019 to a gross profit margin of approximately 42.6% in 2020, driven by sales of health products in China[20]. Construction Projects - The group had 27 construction projects on hand as of September 30, 2020, with a total contract value of approximately HKD 790.1 million, of which about HKD 447.6 million was recognized as revenue[12]. - The overall outlook for the construction industry remains challenging due to the impact of COVID-19, including project delays and labor shortages[9]. - The group aims to enhance its qualifications and financial resources to prepare for bidding on suitable public sector projects[14]. Strategic Plans and Investments - The company plans to maintain prudent financial management and cost control while seeking favorable business and investment opportunities to drive growth[9]. - The company will continue to invest in human resources and information systems to strengthen operational capabilities and efficiency[14]. - The company has increased capital contributions to its subsidiaries and is in the process of acquiring additional equipment and land for operations[27]. - The company has plans to apply for additional licenses with a budget of HKD 38.8 million, of which HKD 6.0 million has been utilized as of September 30, 2020[31]. - The group has identified a remaining balance of HKD 32.8 million for future use of the net proceeds from the listing, expected to be utilized by September 30, 2021[31]. Leadership and Management - Liu Zhi Hong, the chairman and executive director, has over 50 years of experience in civil engineering and has held various significant positions in the industry[54]. - Liu Zhi Ming, the vice chairman and executive director, has approximately 40 years of engineering experience and has been involved in various engineering roles since 1981[56]. - Liu Zhi Qiang, the CEO and executive director, has over 40 years of engineering experience and has served as a guest professor at multiple universities[60]. - The company has a strong leadership team with extensive qualifications, including registered professional engineers and chartered engineers in various fields[61]. - The management team is committed to business development and operational oversight, ensuring strategic growth and market expansion[59]. - The company emphasizes corporate governance and policy development under the supervision of its chairman[54]. Corporate Governance - The company has adopted the corporate governance code as per the Listing Rules and has fully complied with it for the year ending September 30, 2020[82]. - The board consists of a majority of independent non-executive directors, exceeding the requirement of at least one-third as per the Listing Rules[88]. - The company has purchased liability insurance for its directors and senior management to cover any legal liabilities arising from their duties[85]. - The company’s board is responsible for overseeing all significant matters, including strategy formulation and financial performance monitoring[84]. - The independent non-executive directors provide impartial opinions on strategic and performance issues, ensuring the interests of all shareholders are considered[89]. - The company has implemented a system for regular reporting from executive directors to the board regarding their work and business decisions[86]. - The company has established a risk management and internal control system to safeguard shareholder investments and group assets, with annual reviews conducted by the board[132]. Environmental, Social, and Governance (ESG) Initiatives - The company has established a dedicated team to handle ESG matters and monitor progress towards corporate goals and climate change objectives[154]. - The company aims to create sustainable value for stakeholders while significantly reducing its environmental impact[154]. - The ESG report is prepared in accordance with the Hong Kong Stock Exchange's guidelines, enhancing transparency and accountability[149]. - Total greenhouse gas emissions decreased from 87.69 tons in 2019 to 73.41 tons in 2020, representing a reduction of approximately 16.3%[169]. - The company has implemented ISO9001 quality management system to monitor and reduce environmental impacts[185]. - The company has established measures to minimize NOx, SOx, and PM emissions, including training employees on eco-friendly practices[161]. Employee Management - The total number of employees as of September 30, 2020, is 85, with 37 in Hong Kong and 48 in China[196]. - The company has implemented a comprehensive human resources management policy to ensure fair treatment of all employees, regardless of gender, age, or nationality[190]. - The company aims to create a harmonious labor relationship and promote a positive work environment through various employee activities[190]. - The employee gender ratio is approximately 2.3:1, with 59 male employees and 26 female employees, maintaining the same ratio as the previous year[196]. - The company continues to review and adjust its compensation and benefits to attract and retain talent[190].

Financial Performance - Revenue for the six months ended March 31, 2020, was HKD 157,928 thousand, a decrease of 3.6% compared to HKD 162,823 thousand for the same period in 2019[11] - Gross profit for the period was HKD 38,467 thousand, with a gross margin of approximately 24.4%[11] - Operating profit increased significantly to HKD 24,604 thousand from HKD 1,155 thousand in the previous year, reflecting a substantial improvement in operational efficiency[11] - Net profit for the period was HKD 21,391 thousand, compared to a loss of HKD 946 thousand in the same period last year, indicating a turnaround in profitability[11] - Basic and diluted earnings per share for the period were HKD 2.67, compared to a loss per share of HKD 0.12 in the previous year[13] - The company reported a total comprehensive income of HKD 21,404,000 for the six months ended March 31, 2020, compared to HKD 21,391,000 for the same period in 2019, showing a slight increase[23] - Profit for the period was approximately HKD 21.4 million, compared to a loss of HKD 0.9 million for the same period last year[118] Assets and Liabilities - Total assets as of March 31, 2020, were HKD 272,660 thousand, a decrease from HKD 287,361 thousand as of September 30, 2019[18] - Total liabilities decreased to HKD 57,955 thousand from HKD 94,060 thousand, indicating improved financial stability[20] - Cash and cash equivalents amounted to HKD 143,172 thousand, down from HKD 179,970 thousand, reflecting a decrease in liquidity[18] - The company reported a total equity of HKD 214,705 thousand, an increase from HKD 193,301 thousand, showing growth in shareholder value[16] - As of March 31, 2020, the total equity amounted to HKD 214,705,000, an increase from HKD 193,301,000 as of October 1, 2019, representing an increase of approximately 11%[23] - The company’s total liabilities decreased, contributing to the overall increase in equity, although specific figures were not disclosed in the provided documents[23] Cash Flow - The net cash used in operating activities for the six months ended March 31, 2020, was HKD (32,793,000), compared to HKD (13,860,000) for the same period in 2019, indicating a deterioration in cash flow from operations[26] - Cash and cash equivalents increased to HKD 143,172,000 as of March 31, 2020, up from HKD 132,631,000 at the end of the previous period, reflecting a growth of approximately 8%[27] - The company generated net cash from investing activities of HKD 55,648,000 for the six months ended March 31, 2020, compared to a net cash used of HKD (44,178,000) in the same period of 2019, indicating a significant improvement[25] Revenue Segmentation - Revenue from general construction and related services increased significantly to HKD 94,022, up 99.4% from HKD 47,143 in 2019[54] - Revenue from clients in Hong Kong was HKD 153,724, down from HKD 162,823 in 2019, while revenue from China was HKD 4,204[69] - The health management and consulting business generated revenue of HKD 4.2 million for the six months ended March 31, 2020, which was a new revenue stream[109] Expenses and Costs - Employee benefits expenses, including director remuneration, decreased to HKD 8,582 from HKD 11,906 in 2019[71] - Sales cost decreased by approximately HKD 23.4 million or 16.4% to HKD 119.5 million for the six months ended March 31, 2020[110] - Administrative and other operating expenses decreased by HKD 3.2 million or 16.9% to HKD 15.8 million, primarily due to reduced legal and professional fees[115] Strategic Direction - The company plans to continue focusing on operational improvements and exploring new market opportunities to drive future growth[11] - The company continues to focus on its core business areas, including construction and health management services, as part of its strategic direction[28] - The company plans to maintain prudent financial management in project selection and cost control due to challenges in the operating environment[106] Shareholder Information - The total equity attributable to the owners of the company was approximately HKD 214.7 million, up from HKD 193.3 million as of September 30, 2019[130] - Major shareholders hold 600,000,000 shares, representing 75% of the company's equity[152] - The company did not declare or propose any interim dividends for the six months ended March 31, 2020[143] Compliance and Governance - The company has fully complied with the corporate governance code as per the listing rules during the reporting period[170] - The audit committee was established on September 17, 2018, and is chaired by an independent non-executive director[171] - The interim condensed consolidated financial statements for the six months ended March 31, 2020, were reviewed by the audit committee and deemed to comply with applicable accounting standards and listing rules[171]

Financial Performance - The total revenue for the year ended September 30, 2019, was approximately HKD 325.2 million, a decrease of about 14.3% from HKD 379.6 million for the year ended September 30, 2018[21]. - Gross profit decreased by approximately 43.1% to HKD 22.8 million from HKD 40.1 million in the previous year, primarily due to project delays and competitive pricing pressures[21]. - The company recorded a net loss of approximately HKD 11.1 million for the year ended September 30, 2019[21]. - The group's revenue decreased due to reduced contributions from foundation and site preparation works, general construction projects, and related consulting services, primarily due to delays in project commencement or progress[30]. - The group recorded a net loss of approximately HKD 11.1 million for the year ended September 30, 2019, compared to a net profit of approximately HKD 10.1 million in the same period of 2018[37]. - Administrative and other operating expenses increased by approximately HKD 4.9 million or 16.3% to about HKD 34.9 million, mainly due to increased legal and professional fees associated with the listing and rising employee costs[34]. - Other income, gains, and losses decreased by approximately HKD 2.1 million to about HKD 2.8 million, primarily due to a reduction in employee compensation insurance claims[33]. - Income tax expenses decreased by approximately HKD 4.5 million to about HKD 0.6 million, mainly due to losses incurred during the year[36]. - Sales costs decreased by approximately HKD 37.0 million or 10.9% to about HKD 302.4 million for the year ended September 30, 2019, driven by the corresponding decrease in revenue[31]. Project and Operational Developments - As of September 30, 2019, the company had 36 ongoing construction projects with a total contract value of approximately HKD 773.0 million, of which about HKD 414.3 million was recognized as revenue[25]. - The company began operations in health management and consulting services in China during the year, aiming to diversify its revenue sources[22]. - The company plans to enhance financial resources and obtain additional qualifications to prepare for bidding on suitable public sector projects[22]. - The company aims to invest in human resources and information systems to strengthen operational capabilities and efficiency[22]. - The overall industry outlook remains challenging, and the company will maintain prudent financial management in project selection and cost control[22]. Human Resources and Employee Management - The total employee cost for the year ended September 30, 2019, was approximately HKD 22.9 million, an increase from HKD 17.7 million in 2018[59]. - The company employed 92 staff members as of September 30, 2019, up from 41 in 2018, primarily due to the expansion of health management and consulting services in China[59]. - The average training hours for employees increased to 14 hours in 2019, compared to 7 hours in 2018[191]. - The company has implemented a comprehensive training program to enhance employee skills and ensure compliance with ISO9001 standards[190]. - The employee turnover rate in Hong Kong was 16% for females in 2019, up from 4% in 2018[184]. - The total number of injuries reported was 4, resulting in an injury rate of 93.02 per 1,000 employees in Hong Kong for 2019[189]. - New hires in 2019 accounted for 35% of total employees in Hong Kong, compared to 20% in 2018[182]. - The male-to-female employee ratio is approximately 2.3:1, down from 3.5:1 in 2018, reflecting the company's commitment to diversity[170]. Corporate Governance - The company has adopted the corporate governance code as per the Listing Rules and has fully complied with it since the listing date[87]. - The board of directors consists of three executive directors and three independent non-executive directors, with independent directors exceeding one-third of the board[93]. - The company has established three board committees: the Remuneration Committee, the Nomination Committee, and the Audit Committee, each with clear written terms of reference[100]. - The company has purchased liability insurance for its directors and senior management to cover any legal liabilities arising from their duties[90]. - The company has a commitment to high levels of corporate governance to maintain stakeholder trust and create long-term value[86]. - The company emphasizes the importance of independent oversight in its governance structure, with independent directors playing key roles in various committees[74][75][78]. - The company has established a risk management and internal control system to safeguard shareholder investments and group assets, with annual reviews conducted by the board[124]. Environmental, Social, and Governance (ESG) Initiatives - The company has committed to transparency in its Environmental, Social, and Governance (ESG) reporting, following the guidelines set by the stock exchange[138]. - The company reported a total greenhouse gas emissions of 28.98 tons in 2019, an increase from 17.4 tons in 2018, attributed to an increase in the number of private cars from 6 to 8[151]. - The company consumed 88,320 kWh of electricity in 2019, a decrease from 110,392 kWh in 2018, resulting in indirect emissions of 58.71 tons compared to 65.32 tons in the previous year[153]. - The company has implemented measures to reduce emissions, including avoiding vehicle use during peak traffic hours and encouraging public transport[147]. - The company engages with stakeholders through various channels, including annual general meetings and regular communications, to assess and improve its ESG performance[141]. - The company has established environmental management practices to promote sustainable development and regularly monitors environmental performance[168]. - The company has not reported any significant violations of environmental laws or labor standards during the reporting period[180]. Community Engagement and Corporate Citizenship - The group actively engages in community investment, contributing to initiatives such as the "Public Dental Day" and the "Food Rescue" program, supporting the recovery and redistribution of safe-to-eat food to those in need in Hong Kong[199]. - The group is committed to exploring additional ways to contribute to the community and promote a healthy and sustainable society[200]. - The group emphasizes environmental responsibility by communicating and highlighting relevant environmental issues to suppliers, reflecting a commitment to corporate citizenship[195]. - The group sponsors research projects at Hong Kong Polytechnic University aimed at developing innovative technologies beneficial to the construction industry[199].

Financial Performance - Revenue for the six months ended March 31, 2019, was HKD 162.8 million, a decrease of 14% from HKD 189.2 million in the same period of 2018[15] - Gross profit for the same period was HKD 20.0 million, down from HKD 22.1 million, resulting in a gross margin of 12.3%[15] - Operating profit decreased to HKD 1.2 million, compared to HKD 3.5 million in the previous year, reflecting a decline of 67%[15] - The company reported a net loss of HKD 946,000 for the period, compared to a profit of HKD 1.1 million in the prior year[15] - Basic and diluted loss per share for the period was HKD 0.12, compared to earnings of HKD 0.16 per share in the prior year[15] - The profit before tax for the six months ended March 31, 2019, was HKD 1,106,000, compared to HKD 3,501,000 for the same period in 2018, indicating a decline in profitability[78] - The company reported a loss attributable to owners of the company of HKD 946,000 for the six months ended March 31, 2019, compared to a profit of HKD 930,000 in the same period of 2018[98] - The basic loss per share for the six months ended March 31, 2019, was HKD (0.12), compared to earnings of HKD 0.16 per share in the same period of 2018[98] Assets and Liabilities - Total assets as of March 31, 2019, were HKD 310.3 million, an increase from HKD 247.6 million as of September 30, 2018[17] - Cash and bank balances increased significantly to HKD 176.0 million, up from HKD 88.2 million in the previous year[17] - Total liabilities decreased to HKD 105.9 million from HKD 155.7 million, indicating improved financial stability[19] - The company’s equity increased to HKD 204.4 million, compared to HKD 91.9 million in the previous year[17] - Current assets reported at HKD 58,364,000, with trade and other receivables at HKD 58,364,000 and contract assets at HKD 68,595,000[45] - Total liabilities include trade and other payables of HKD 70,282,000 and contract liabilities of HKD 28,214,000[45] - The total amount of contract receivables was HKD 51,516,000, indicating a stable position[60] Cash Flow - The net cash flow from operating activities for the six months ended March 31, 2019, was a negative HKD 13,860,000, compared to a negative HKD 19,626,000 for the same period in 2018[24] - Cash and cash equivalents increased to HKD 132,631,000 as of March 31, 2019, up from HKD 74,071,000 at the end of the previous period[24] - The company’s financing activities generated a net cash inflow of HKD 107,815,000 during the reporting period[24] - The company reported a net cash outflow from investing activities of HKD 44,178,000 for the six months ended March 31, 2019[24] Accounting Standards and Adjustments - The company has adopted new and revised Hong Kong Financial Reporting Standards (HKFRS) effective from January 1, 2018, impacting the classification of financial assets and credit loss measurement[31] - The cumulative impact of adopting HKFRS 15 on retained earnings as of October 1, 2018, was an increase of HKD 7,567,000 after tax effects[36] - The impact of HKFRS 15 on the interim consolidated financial position as of March 31, 2019, included adjustments to various accounts without affecting other items[44] - The application of HKFRS 9 resulted in an additional credit loss provision of approximately HKD 3,243,000 recognized in retained earnings[54] - The transition to HKFRS 9 did not affect the carrying amounts of financial assets and liabilities as of October 1, 2018[53] Operational Strategy - The company plans to focus on expanding its market presence and enhancing product offerings in the upcoming periods[10] - The company plans to explore good business opportunities to drive growth, including establishing a wholly-owned subsidiary in Shanghai for health management services in China[134] - The company is actively seeking suitable land for machinery storage as part of its operational expansion strategy[146] Shareholder Information - Major shareholders include Dr. Liu Zhi-Hong, Mr. Liu Zhi-Ming, and Dr. Liu Zhi-Qiang, each holding 600,000,000 shares, representing 75% ownership[167] - The total issued and fully paid share capital was HKD 20,000,000, consisting of 2,000,000,000 shares with a par value of HKD 0.01 each[110] Corporate Governance - The company has fully complied with the corporate governance code as of March 31, 2019[183] - The audit committee was established on September 17, 2018, and is chaired by an independent non-executive director[184] - All directors complied with the required standards of the code of conduct for securities transactions during the six months ending March 31, 2019[177]

Financial Performance - For the fiscal year ending September 30, 2018, the group recorded total revenue of approximately HKD 379.6 million, an increase of about 5.6% from HKD 359.3 million for the previous year[24]. - The net profit for the same period was approximately HKD 10.1 million, with an adjusted net profit of about HKD 25.6 million, reflecting a slight increase of approximately 0.7% compared to the previous year[24]. - The group's revenue increased to approximately HKD 379.6 million for the year ended September 30, 2018, compared to HKD 359.3 million for the previous year, representing a growth of 5.4%[34]. - The cost of sales rose by approximately HKD 21.0 million or 6.6% to about HKD 339.4 million for the year ended September 30, 2018, aligning with the revenue increase[35]. - Gross profit remained relatively stable at approximately HKD 40.1 million for the year ended September 30, 2018, down from HKD 41.0 million the previous year, resulting in a gross margin of 10.6%[36]. - Profit for the year decreased by approximately HKD 13.9 million or 57.9% to about HKD 10.1 million for the year ended September 30, 2018[43]. - The adjusted net profit for the year ended September 30, 2018, was approximately HKD 25.6 million, slightly up from HKD 25.4 million in the previous year, with an adjusted net profit margin of 6.7%[43]. - The effective tax rate increased to 33.7% for the year ended September 30, 2018, from 17.0% the previous year, primarily due to non-deductible listing expenses[42]. Construction Projects - As of September 30, 2018, the group had 34 ongoing construction projects with a total contract value of approximately HKD 1,161.2 million, compared to 35 projects valued at approximately HKD 993.2 million the previous year[28]. - The company provides a range of construction services, including foundation and site preparation, general building works, and related consultancy services[28]. Corporate Governance - The company is committed to improving corporate governance and expanding its business opportunities as a comprehensive contractor[23]. - The company emphasizes the importance of independent judgment and opinions on strategy, performance, resources, and conduct codes from its board members[76]. - The company is committed to maintaining high standards of corporate governance through its independent committees and experienced board members[81]. - The board of directors has a majority of independent non-executive directors, exceeding the requirement of at least one-third as per listing rules[98]. - The company has adopted the corporate governance code as per the listing rules and has fully complied since its listing date[90]. - The company has established three board committees: the remuneration committee, nomination committee, and audit committee, each with clear written terms of reference[110]. - The nomination committee evaluates the composition of the board and recommends candidates for new directors based on objective criteria, considering diversity factors[114]. - The company has a policy for directors to rotate every three years at the annual general meeting, ensuring fresh perspectives[105]. - The company has purchased liability insurance for its directors and senior management to cover potential legal liabilities arising from their duties[95]. Human Resources - The total employee cost for the year ended September 30, 2018, was approximately HKD 17.7 million, down from HKD 26.9 million in 2017[62]. - The employee gender ratio is approximately 3.5:1, with 32 male employees and 9 female employees as of September 30, 2018[175]. - New hires during the reporting period included 8 employees, of which 6 were male and 2 were female, representing 20% of the total workforce[176]. - Employee turnover rate was 4%, with 1 male employee leaving the company during the reporting period[177]. - 80% of employees received training, with 78% of male employees and 89% of female employees participating in training programs[183]. - The average training hours for management or above was 1 hour for males and 3 hours for females[187]. - The company has established a rigorous recruitment and screening process to prevent illegal child labor[188]. Environmental, Social, and Governance (ESG) Initiatives - The company plans to issue an ESG report annually to enhance transparency and stakeholder confidence regarding its sustainability measures[139]. - The ESG report reflects the company's performance in environmental management and social responsibility for the period from October 1, 2017, to September 30, 2018[141]. - The company reported a CO2 emission of 65.32 tons from energy indirect emissions during the reporting period[150]. - The total non-hazardous waste generated was 658.15 tons, managed through authorized logistics services[152]. - The total water consumption in Hong Kong was 1,852 cubic meters, with a per employee water density of 45.17 cubic meters[157]. - The total electricity consumption in Hong Kong was 110,392 kWh, with a per employee electricity density of 2,692.49 kWh[162]. - The company has implemented measures to reduce NOx emissions to 0.03 tons and SOx emissions to 0.0001 tons[150]. - The company aims to improve energy efficiency and reduce resource consumption through the adoption of green technologies[153]. - The company has established a comprehensive data collection system to enhance its ESG performance evaluation[144]. - The company engages with stakeholders regularly to gather feedback and improve its ESG reporting[145]. - The company has set a goal to achieve low-carbon operations and resource conservation[153]. - The company has implemented ISO 9001 quality management system to monitor environmental performance[162]. Board and Management - Liu Zhiming was appointed as an executive director on January 3, 2018, and has been responsible for the duties of the chairman in his absence[68]. - Liu Zhiqiang has approximately 40 years of engineering experience and was appointed as CEO and executive director on January 3, 2018[71]. - Liu Zhiqiang has held various academic positions, including guest professor at Hong Kong Polytechnic University and University of Hong Kong since 2016 and 2018 respectively[73]. - The company has a strong board of independent non-executive directors, including Liang Binggang, who was appointed on September 17, 2018, and serves on the nomination and audit committees[76]. - The company’s independent non-executive director, Peng Jiaheng, has extensive experience in accounting and was a partner at Pang & Ma, Chartered Accountants from 1982 to 1987[77]. - Huang Zhenan, another independent non-executive director, has been a lawyer since 1982 and has served in various legal capacities, enhancing the company's governance[81]. - The company has a diverse board with members holding qualifications in engineering, law, and accounting, which supports comprehensive oversight[79]. - The company has a strong focus on project management and business development, with senior project managers overseeing operations[84][86]. - The daily operations and management of the group have been delegated to executive directors and senior management, who report regularly to the board[96]. - The company holds regular board meetings to review financial and operational performance and overall strategy[119]. - The company held three board meetings during the year ended September 30, 2018, with all executive directors attending all meetings[120]. - The external auditor received a total fee of HKD 2,304,000 for audit and non-audit services, including HKD 900,000 for annual audit services and HKD 1,200,000 for listing-related services[124]. - The company has not established an internal audit function as of September 30, 2018, but the audit committee and board will continue to review the need for such a function annually[133].