Financial Performance - The company recorded revenue of HKD 199.3 million for the year, a decrease of 38.9% from HKD 326.5 million in the previous year, primarily due to the completion of several large projects and delays in new project commencements [8]. - Gross profit increased to approximately HKD 4.6 million, reflecting a gross profit margin of 2.3%, compared to HKD 4.0 million and a margin of 1.2% in the previous year, marking a 14.6% increase [25]. - The company achieved a net profit of approximately HKD 2.4 million, significantly up from HKD 810,000 in the previous year, driven by optimized project management and reduced indirect costs [10]. - Other income for the year was approximately HKD 15.5 million, a decrease of 11.0% from HKD 17.5 million in the previous year, mainly due to the absence of government subsidies under the COVID-19 relief fund [26]. - The profit and total comprehensive income attributable to equity holders of the company for the period is approximately HKD 2.4 million, an increase of about HKD 1.6 million compared to the previous year [32]. - The total employee cost for the period is approximately HKD 72.1 million, a decrease from HKD 88.7 million for the year ended March 31, 2023 [48]. - The financing cost for the period reached approximately HKD 1.5 million, an increase of about HKD 662,000 or 80.3% compared to approximately HKD 824,000 for the year ended March 31, 2023 [31]. Future Contracts and Projects - As of March 31, 2024, the company had contracts worth over HKD 321.8 million yet to be recognized, indicating a stable future revenue stream [21]. - The company secured 9 new contracts during the year, with a total original contract value of approximately HKD 268.0 million, and completed 4 projects with a total original contract value of about HKD 100.1 million [22]. - The company has 19 ongoing projects with a total original contract value of approximately HKD 1.2 billion as of March 31, 2024 [23]. Financial Position - As of March 31, 2024, the total cash and cash equivalents amount to approximately HKD 3.9 million, a decrease from HKD 17.2 million as of March 31, 2023, primarily due to cash collections from contract assets [34]. - The debt-to-equity ratio as of March 31, 2024, is approximately 50.3%, an increase from 49.6% as of March 31, 2023, mainly due to an increase in total debt of about HKD 1.8 million during the period [34]. - The company has not made any significant acquisitions or disposals of subsidiaries or associates during the period [43]. Corporate Governance - The company has complied with all applicable corporate governance codes, except for a deviation noted in the corporate governance report [116]. - The board of directors includes experienced members with over 30 years in the construction industry, ensuring strong leadership and oversight [123][124]. - The company is committed to maintaining high corporate governance standards to enhance shareholder value and protect the interests of stakeholders [137]. - The board consists of five members, including two executive directors and three independent non-executive directors, ensuring a diverse range of business experience and expertise [141]. - The company has adopted the corporate governance code as per the listing rules, with a commitment to transparency and accountability [138]. - The independent non-executive directors provide independent judgment on the group's strategy, policies, performance, and accountability [133]. - The company has a dedicated company secretary responsible for overall financial management and compliance with corporate governance [135]. ESG and Sustainability - The company has committed to using energy-efficient and environmentally friendly equipment and materials in its construction projects [120]. - The company emphasizes sustainability as a key factor for its development and community welfare, actively participating in community activities [120]. - The board of directors is responsible for ensuring the sustainability of the company's development and monitoring ESG performance [184]. - The ESG management team is tasked with collecting and analyzing ESG data and preparing ESG reports [184]. - The company has implemented policies to ensure a diverse, equitable, and inclusive workplace culture [185]. - The group engages with stakeholders to accurately assess the potential impacts of its business activities related to ESG [187]. - The ESG report covers significant ESG issues identified through stakeholder engagement and prioritization [190]. - The importance matrix for the fiscal year 2023/24 includes key ESG issues such as noise management, energy consumption, and waste management [191]. - The company strictly adheres to Hong Kong environmental regulations, including the Air Pollution Control Ordinance and Waste Disposal Ordinance [200]. - Measures are implemented to minimize environmental impact at construction sites, including covering materials and using dust suppression techniques [200]. Shareholder Relations - The company emphasizes the importance of maintaining good communication with all shareholders to enhance investor relations [175]. - The company has established various communication channels for shareholders, including annual and special general meetings [175]. - The company has a dividend policy to share profits with shareholders while retaining sufficient reserves for future growth, with no guarantee of dividends for any specific period [161][162].

Financial Performance - Revenue for the year ended March 31, 2024, was approximately HKD 199.3 million, a decrease of about 38.9% compared to HKD 326.5 million for the year ended March 31, 2023[3] - Gross profit for the year was approximately HKD 4.6 million, compared to HKD 4.0 million for the previous year, indicating an increase[3] - Profit attributable to equity holders of the company for the year was approximately HKD 2.4 million, up from HKD 810,000 in the previous year[3] - Basic earnings per share for the year were approximately HKD 0.20, compared to HKD 0.07 for the year ended March 31, 2023[3] - The company reported a net profit of approximately HKD 2.4 million for the period, an increase of about HKD 1.6 million compared to the previous period, primarily due to an overprovision for Hong Kong profits tax of approximately HKD 1.8 million from prior years[39] - The total profit and comprehensive income attributable to equity holders of the company was approximately HKD 2.4 million, an increase of about HKD 1.6 million compared to the previous fiscal year[48] Revenue Breakdown - Revenue from private projects in 2024 was HKD 53,752,000, significantly up from HKD 11,485,000 in 2023[27] - Revenue from public projects in 2024 was HKD 145,592,000, down from HKD 315,007,000 in 2023[27] - The group recognized revenue of HKD 102,068,000 from past performance obligations in 2024, a decrease of 56% from HKD 231,865,000 in 2023[29] - Revenue from foundation engineering services reached approximately HKD 199.3 million, a decrease of about HKD 127.1 million or 38.9% compared to approximately HKD 326.5 million for the year ended March 31, 2023[41] Assets and Liabilities - Total assets as of March 31, 2024, were approximately HKD 194.5 million, an increase from HKD 185.9 million as of March 31, 2023[6] - Current liabilities as of March 31, 2024, were approximately HKD 101.4 million, compared to HKD 96.5 million in the previous year[6] - The company's net asset value as of March 31, 2024, was approximately HKD 88.1 million, slightly up from HKD 85.7 million in the previous year[6] - The group's asset-liability ratio was approximately 50.3% as of March 31, 2024, up from 49.6% in the previous year, primarily due to an increase in total liabilities of about HKD 1.8 million[51] Expenses - The group reported other income of approximately HKD 15.5 million for the year, down from HKD 17.5 million in the previous year[4] - Administrative expenses for the year were approximately HKD 21.5 million, a decrease from HKD 22.3 million in the previous year[4] - Employee costs, including director remuneration, totaled HKD 72,130,000 in 2024, down from HKD 88,746,000 in 2023, representing a decrease of 19%[30] - The total employee cost, including director remuneration, was approximately HKD 72.1 million, down from HKD 88.7 million in the previous year[62] Accounting Standards and Policies - The group has applied new and revised Hong Kong Financial Reporting Standards starting from January 1, 2023, with no significant impact on the financial position and performance for the current and prior years[11] - The revision of Hong Kong Accounting Standard 8 clarifies the definition of accounting estimates as monetary amounts subject to measurement uncertainty[12] - The application of the revised Hong Kong Accounting Standard 1 and Practical Guide 2 has changed the terminology from "major accounting policies" to "key accounting policy information" without significant impact on the financial statements[14] - The group expects no significant impact from the changes in accounting policies on the consolidated financial statements for the current year[21] - The group has not early adopted any new or revised Hong Kong Financial Reporting Standards that are not yet effective[23] Future Outlook - The board remains cautiously optimistic about the company's future financial performance, expecting stability and profit growth[39] - The group continues to maintain a conservative policy in cash and financial management, closely monitoring its liquidity to meet business development needs[52] Corporate Governance - The board of directors did not recommend the payment of a final dividend for the year, consistent with the previous year[3] - The group did not recommend the payment of a final dividend for the reporting period, consistent with the previous year[65] - The company has adopted the "Standard Code" for directors' securities trading as per the listing rules, confirming full compliance by all directors during the relevant period[67] - The audit committee, consisting of three independent non-executive directors, has reviewed the company's annual performance and confirmed compliance with applicable accounting standards and regulations[76] - The external auditor has reviewed the consolidated financial statements for the relevant period, confirming consistency with the draft financial statements[77] - The company maintains sufficient public float as per the listing rules, ensuring compliance during the relevant period[75] Meetings and Reports - The annual general meeting is scheduled for August 13, 2024, with a suspension of share transfer registration from August 8 to August 12, 2024, to determine voting eligibility[72] - The annual report for the relevant period will be sent to shareholders and published on the company's and the stock exchange's websites at an appropriate time[80]

Financial Performance - The company recorded a net profit of approximately HKD 707,000 for the six months ended September 30, 2023, a decrease of about HKD 1.3 million compared to the same period in 2022[8]. - For the six months ended September 30, 2023, the company's revenue was approximately HKD 128.9 million, a decrease of 16.5% compared to HKD 154.4 million for the same period in 2022[44]. - The gross profit for the period was approximately HKD 3.2 million, an increase of about HKD 1.3 million or 64.7% from HKD 1.9 million in the previous year[11]. - The company reported a net profit attributable to equity holders of HKD 0.7 million for the six months ended September 30, 2023, compared to HKD 2.0 million in the same period last year[44]. - The company incurred a total comprehensive income of HKD 707,000 for the six months ended September 30, 2023, compared to a total comprehensive income of HKD 1,960,000 for the same period in 2022[48]. - Profit before tax for the six months ended September 30, 2023, was HKD 707,000, down from HKD 1,960,000, a decrease of 64.0%[79]. - Basic earnings per share decreased to HKD 0.06 from HKD 0.16, a decline of 62.5%[79]. Revenue and Contracts - Revenue from foundation engineering reached approximately HKD 128.9 million, a decrease of about HKD 25.5 million or 16.5% compared to HKD 154.4 million for the same period in 2022[10]. - The company was awarded three new contracts with a total original contract amount of approximately HKD 37.0 million during the period[9]. - For the six months ended September 30, 2023, the company reported contract revenue of HKD 154,414,000, an increase of 19.7% compared to HKD 128,904,000 for the same period in 2022[65]. - Total revenue for the six months ended September 30, 2023, was HKD 154,414,000, up from HKD 128,904,000, reflecting a growth of 19.8%[71]. - The company had an unrecognized contract amount of approximately HKD 156.0 million as of September 30, 2023, and continues to bid for large and quality projects[8]. Expenses and Costs - Other income for the period was approximately HKD 6.5 million, a decrease of about HKD 2.6 million or 28.2% from HKD 9.1 million in the previous year[14]. - Administrative expenses increased to approximately HKD 10.1 million, up about HKD 0.6 million or 6.8% from HKD 9.5 million in the previous year[15]. - Financing costs rose to approximately HKD 756,000, an increase of about HKD 671,000 or 789.4% compared to HKD 85,000 in the previous year[17]. - The total employee cost for the period was approximately HKD 38.0 million, a slight decrease from HKD 38.9 million for the same period in 2022, reflecting effective cost control measures[39]. Cash Flow and Liquidity - The company’s cash and cash equivalents totaled approximately HKD 5.1 million as of September 30, 2023, down from HKD 17.2 million as of March 31, 2023[25]. - The net cash flow from operating activities for the six months ended September 30, 2023, was a negative HKD 7,416,000, compared to a positive HKD 4,150,000 in the same period of 2022[51]. - The company’s financing activities resulted in a net cash outflow of HKD 2,041,000 for the six months ended September 30, 2023, compared to a net cash outflow of HKD 44,000 in the same period of 2022[51]. - Cash and bank balances were HKD 5,125,000 as of September 30, 2023, significantly lower than HKD 17,221,000 as of March 31, 2023, a decline of 70.2%[98]. Assets and Liabilities - The company reported a total equity of HKD 86,370,000 as of September 30, 2023, compared to HKD 80,788,000 as of April 1, 2022[48]. - The debt-to-equity ratio as of September 30, 2023, was approximately 50.2%, slightly up from 49.6% as of March 31, 2023, due to a decrease in total liabilities and an increase in equity[28]. - The company’s accumulated losses as of September 30, 2023, were HKD 7,621,000, an increase from HKD 9,138,000 as of April 1, 2022[48]. - The total amount of uncompleted long-term construction contracts was HKD 156,385,000 as of September 30, 2023, slightly down from HKD 160,000,000 as of March 31, 2023, a decrease of 2.6%[97]. Trade Receivables and Payables - Total trade receivables increased to HKD 16,022,000 from HKD 13,978,000, an increase of 7.5%[83]. - Trade receivables as of September 30, 2023, amounted to HKD 16,402,000, an increase of 12.7% from HKD 14,556,000 as of March 31, 2023[88]. - Trade payables decreased from HKD 41,827,000 as of March 31, 2023, to HKD 32,323,000 as of September 30, 2023, representing a reduction of approximately 22.7%[100]. - The aging analysis of trade payables shows that amounts overdue for more than 90 days remained stable at HKD 20,103,000 as of September 30, 2023, compared to HKD 20,171,000 as of March 31, 2023[101]. Corporate Governance and Shareholding - The company has adopted the corporate governance code as per the listing rules, with a noted deviation regarding the roles of Chairman and CEO being held by the same individual, Mr. Chan[123]. - As of September 30, 2023, Mr. Chan holds 900,000,000 shares, representing a 75% equity interest in Oriental Castle Group Limited[117]. - Oriental Castle, a direct shareholder of the company, has a total of 900,000,000 shares, also representing a 75% equity interest[121]. - Ms. Zhu, as the spouse of Mr. Chan, is deemed to have an equity interest in the 900,000,000 shares held by Oriental Castle, which is 75%[122]. Audit and Compliance - The interim financial statements for the group have not been audited but reviewed by the audit committee, which confirms compliance with applicable accounting standards and regulations[135]. - The audit committee, established on May 14, 2018, consists of three independent non-executive directors, with Mr. Ho as the chairman[134]. - No significant subsequent events have occurred after the reporting period up to the date of this report[133].

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告之內容概不 負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告 全部或任何部份內容而產生或因倚賴該等內容而引致之任何損失承擔任何責 任。 Affluent Foundation Holdings Limited 俊 裕 地 基 集 團 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：1757） 截 至 二 零 二 三 年 九 月 三 十 日 止 六 個 月 中 期 業 績 公 告 俊裕地基集團有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然宣佈，本公司 及其附屬公司（統稱「本集團」）截至二零二三年九 月三十日止六個月（「有關期 間」）之簡明綜合中期財務報表如下： 財務摘要 1. 有關期間之收益約為128.9百萬港元，較截至二零二二年九月三十日止 六個月減少約16.5%。 2. 有關期間之毛利約為3.2百萬港元，較截至二零二二年九月三十日止六 個月減少約64.7%。 3. 有關期間之本公司權益持有人應佔溢利及全面收入總額約為707,000港 元（截至二零二二年九月三十日止六個月：約2.0百萬港元）。 4. 有關期間 ...

Financial Performance - The company recorded a net profit of approximately HKD 810,000, a decrease of about HKD 2.1 million compared to the previous period, primarily due to a decline in revenue and gross margin [7]. - Revenue from foundation engineering services reached approximately HKD 326.5 million, a decrease of about HKD 185.1 million or 36.2% compared to the previous year [13]. - The gross profit for the period was approximately HKD 4.0 million, down about HKD 14.9 million or 78.9% from HKD 18.9 million in the previous year [14]. - Other income increased to approximately HKD 17.5 million, a rise of about HKD 11.6 million or 199.5% compared to HKD 5.8 million in the previous year [18]. - The financing costs for the period amounted to approximately HKD 824,000, an increase of about HKD 380,000 or 85.6% compared to HKD 444,000 in the previous year [21]. - The expected credit loss provision was approximately HKD 1.9 million, an increase of about HKD 1.7 million compared to HKD 232,000 in the previous year [20]. - The company maintained stable administrative expenses of approximately HKD 22.3 million during the period [19]. - The management remains cautiously optimistic about the company's future financial performance, expecting stability and potential profit growth [11]. Contracts and Projects - As of March 31, 2023, the company had over HKD 160.0 million in unconfirmed contract amounts, indicating potential for acquiring more contracts [11]. - The company completed 8 projects with a total original contract amount of approximately HKD 548.6 million during the period [12]. Capital and Cash Management - The total cash and cash equivalents amounted to approximately HKD 17.2 million as of March 31, 2023, an increase from HKD 11.9 million in 2022, primarily due to collections from contract assets [24]. - The debt-to-equity ratio as of March 31, 2023, was approximately 49.6%, down from 53.3% in 2022, attributed to a decrease in total debt by about HKD 559,000 [24]. - Capital expenditures during the period were approximately HKD 8.2 million for the purchase of property, plant, and equipment, funded mainly by internal resources [29]. - The total employee cost, including director remuneration, was approximately HKD 88.7 million for the period, slightly up from HKD 88.6 million in 2022 [38]. - The available reserves for distribution as of March 31, 2023, were approximately HKD 40,432,000, down from HKD 43,244,000 in 2022 [57]. - The company had no capital commitments as of March 31, 2023, consistent with the previous year [30]. Shareholder and Governance - The company did not declare any final dividends for the period, consistent with the previous year [47]. - The stock option plan allows for a maximum issuance of 120,000,000 shares, representing 10% of the total shares issued as of the listing date [59]. - The exercise price for any specific stock options granted under the plan cannot be less than the higher of the closing price on the grant date or the average closing price over the five trading days preceding the grant date [60]. - As of March 31, 2023, there were no unexercised stock options, and no options were granted, exercised, canceled, or expired during the relevant period [61]. - The company has not entered into any management or administrative contracts related to its overall or any significant part of its business during the relevant period [66]. - The company has made appropriate insurance arrangements for its directors and senior management against legal claims arising from corporate activities [73]. - The board consists of five members, including two executive directors and three independent non-executive directors, ensuring a diverse range of business experience and expertise [125]. - The company has adopted the corporate governance code as per the listing rules, with a commitment to transparency and accountability [122]. - All independent non-executive directors have confirmed their independence according to the listing rules, ensuring compliance with governance standards [128]. - The company held three board meetings and one shareholders' meeting during the reporting period, with full attendance from all directors [129]. - The chairman and CEO roles are currently held by the same individual, Mr. Chen, which the board believes enhances operational efficiency despite deviating from governance code recommendations [123]. - The company is committed to reviewing and potentially separating the roles of chairman and CEO in the future as appropriate [123]. Risk Management and Compliance - The company engaged an external independent consultant to review the effectiveness of its risk management and internal control systems during the period [153]. - The board believes that the risk management and internal control systems remain effective during the period [153]. - The company has complied with all relevant laws and regulations during the reporting period, ensuring significant operational integrity [103]. - The company has maintained compliance with environmental regulations, with no significant violations reported during the fiscal year [190]. Environmental, Social, and Governance (ESG) - The company is committed to sustainability, focusing on reducing environmental impacts through energy-efficient practices and materials in construction projects [102]. - The board of directors is responsible for the company's ESG strategy and performance monitoring, ensuring alignment with long-term value creation for shareholders [169]. - The ESG management team collects and analyzes ESG data, monitors performance, and prepares ESG reports, facilitating communication between the board and management [171]. - The company engages with stakeholders through various communication methods, including annual financial reports and conference calls, to assess the impact of its business activities on ESG factors [172]. - The company emphasizes the financial implications of ESG issues, assessing risks and opportunities related to sustainability measures [170]. - The company is committed to creating better social value through enhanced ESG measures and stakeholder collaboration [172]. - The importance matrix highlights key sustainability aspects such as noise management, energy consumption, and employee development [176]. - The company reported a significant reduction in greenhouse gas emissions from vehicle use, with nitrogen oxides decreasing from 272,846.69 grams in 2022 to 151,320.91 grams in 2023, a reduction of approximately 44.5% [195]. - Sulfur oxides emissions also decreased from 411.10 grams in 2022 to 365.69 grams in 2023, representing a decline of about 11% [195]. - The total amount of non-hazardous waste disposed of increased from 1,532.34 tons in 2022 to 1,906.94 tons in 2023, an increase of approximately 24.5% [200]. - The density of non-hazardous waste per construction project rose from 383.08 tons in 2022 to 635.65 tons in 2023, indicating a significant increase of about 66.1% [200]. - The company has implemented measures to minimize air quality impacts, including covering materials and using dust suppression techniques on construction sites [188]. - The company has not generated any hazardous waste during the reporting period, reflecting its operational nature [198]. - The company’s commitment to environmental protection is evident through its adherence to the Air Pollution Control Ordinance, ensuring fuel sulfur content does not exceed 0.005% [194]. Management and Operations - The management team has extensive experience in the construction industry, with over 30 years of combined expertise [106]. - The management team is responsible for overall management and business development, ensuring strategic growth [106]. - The company operates as a subcontractor in Hong Kong, providing foundation engineering services including excavation, lateral support works, and structural reinforcement engineering [167]. - The company emphasizes the importance of high-quality products and services to meet customer needs [102]. - The leadership team has a strong educational background in finance and management, enhancing decision-making capabilities [111].

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告之內容概不 負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告 全部或任何部份內容而產生或因倚賴該等內容而引致之任何損失承擔任何責 任。 Affluent Foundation Holdings Limited 俊 裕 地 基 集 團 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：1757） 截 至 二 零 二 三 年 三 月 三 十 一 日 止 年 度 全 年 業 績 公 告 俊裕地基集團有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然宣佈，本公司 及其附屬公司（統稱「本集團」）截至二零二三年三月三十一日止（「有關期間」）年 度之綜合財務報表如下： 財務摘要 1. 有關期間之收益約為326.5百萬港元，較截至二零二二年三月三十一日 止年度減少約36.2%。 2. 有關期間之毛利約為4.0百萬港元，而截至二零二二年三月三十一日止 年度則為毛利約18.9百萬港元。 3. 有關期間之本公司權益持有人應佔溢利及全面收入總額約為810,000港 元（二零二二年：約3.0百萬港元）。 ...

Financial Performance - The company recorded a net profit of approximately HKD 2.0 million for the six months ended September 30, 2022, a decrease of about HKD 0.1 million compared to the same period in 2021[6]. - Revenue from foundation engineering was approximately HKD 154.4 million, a decrease of about HKD 112.0 million or 42.0% compared to HKD 266.4 million for the same period in 2021[10]. - Gross profit for the period was approximately HKD 1.9 million, a decrease of about HKD 9.4 million or 82.9% compared to HKD 11.3 million for the same period in 2021[12]. - The profit attributable to equity holders of the company for the period was HKD 1.96 million, down from HKD 2.14 million in the previous year[40]. - The company reported a profit and total comprehensive income of HKD 1,960,000 for the six months ended September 30, 2022, compared to HKD 2,144,000 for the same period in 2021, indicating a decrease of about 8.5%[48]. - The company reported a profit before tax of 1,960,000 HKD for the six months ended September 30, 2022, a decrease of 8.5% compared to 2,144,000 HKD in the same period last year[88]. Revenue and Income - The group reported a revenue of HKD 154.4 million for the six months ended September 30, 2022, a decrease from HKD 266.4 million for the same period in 2021[40]. - Contract revenue for the six months ended September 30, 2022, was HKD 154,414,000, a decrease of 42.0% compared to HKD 266,442,000 for the same period in 2021[72]. - Revenue from private projects was HKD 16,919,000, down 84.5% from HKD 109,791,000 in the previous year, while revenue from public projects was HKD 137,495,000, a decrease of 12.2% from HKD 156,651,000[78]. - Other income increased to approximately HKD 9.1 million, an increase of about HKD 8.6 million or 1,653.8% compared to HKD 0.5 million for the same period in 2021[13]. - Other income for the six months ended September 30, 2022, totaled HKD 9,102,000, significantly up from HKD 519,000 in the same period of 2021[79]. Expenses and Costs - Administrative expenses for the period were approximately HKD 9.5 million, an increase of about HKD 0.5 million or 5.8% compared to HKD 9.0 million for the same period in 2021[14]. - Financing costs decreased to approximately HKD 0.1 million, a reduction of about HKD 0.5 million or 86.0% compared to HKD 0.6 million for the same period in 2021[15]. - The total employee cost for the period was approximately HKD 38.9 million, compared to HKD 45.7 million for the same period in 2021[33]. - The company reported a significant reduction in subcontracting expenses, which decreased to 39,187,000 HKD from 77,389,000 HKD year-on-year[8]. - The remuneration for key management personnel increased to HKD 1,855,000 for the six months ended September 30, 2022, from HKD 1,706,000 in the same period of 2021[134]. Assets and Liabilities - As of September 30, 2022, the total cash and cash equivalents amounted to approximately HKD 13.6 million, an increase from HKD 11.9 million as of March 31, 2022[23]. - The group's debt-to-equity ratio was approximately 44.9% as of September 30, 2022, down from 53.3% as of March 31, 2022, primarily due to a reduction in total liabilities and an increase in total equity from profits[23]. - Total assets decreased from HKD 188,731,000 as of March 31, 2022, to HKD 183,924,000 as of September 30, 2022, representing a decline of approximately 2%[44]. - Total liabilities decreased from HKD 136,668,000 to HKD 95,057,000, a reduction of approximately 30.5%[44]. - The company's net asset value increased from HKD 80,788,000 as of March 31, 2022, to HKD 86,813,000 as of September 30, 2022, an increase of approximately 7.5%[44]. Cash Flow - Operating cash flow for the six months ended September 30, 2022, was HKD 4,150,000, compared to HKD 1,175,000 for the same period in 2021, indicating a significant increase of approximately 253%[51]. - Cash and bank balances increased from HKD 11,881,000 to HKD 13,578,000, marking an increase of about 14.3%[44]. - The company's cash and cash equivalents at the end of the period rose to HKD 13,578,000 from HKD 9,447,000, an increase of about 43.5%[51]. - Net cash used in investing activities was HKD (2,409,000) for the six months ended September 30, 2022, compared to HKD (944,000) in the previous year, reflecting a higher investment outflow[51]. Contracts and Projects - The company had an unconfirmed contract amount of approximately HKD 293.7 million as of September 30, 2022, and will continue to bid for large and quality projects[8]. - The company completed three projects with an original contract amount of approximately HKD 97.0 million during the period[9]. - The company had 17 projects on hand, including ongoing and awarded but not yet commenced projects, with an original contract amount of approximately HKD 1.5 billion[9]. - The total amount of uncompleted long-term construction contracts was HKD 293,676,000 as of September 30, 2022, down from HKD 414,182,000 as of March 31, 2022[116]. Governance and Compliance - The company has adopted the corporate governance code as per the listing rules, with a noted deviation regarding the roles of Chairman and CEO being held by the same individual[146]. - The board is composed of experienced individuals, ensuring sufficient independent elements within its structure[146]. - The company has confirmed compliance with the standards set forth in the securities trading code during the relevant period[150]. - The Audit Committee was established on May 14, 2018, in accordance with Listing Rule 3.22 and the Corporate Governance Code[156]. - The Audit Committee consists of three independent non-executive directors, with Mr. He Zhiwei serving as the chairman[156]. Shareholder Information - As of September 30, 2022, Mr. Chen holds 900,000,000 shares, representing a 75% equity interest in the company[141]. - Oriental Castle, directly owned by Mr. Chen and Ms. Zhu, holds 900,000,000 shares, equating to a 75% equity interest[147]. - Ms. Zhu, as Mr. Chen's spouse, is considered to have an equity interest in the 900,000,000 shares held by Oriental Castle[147]. Other Information - The company has not reported any significant impact on its financial performance due to the adoption of new accounting standards[66]. - The company has not made any provisions for potential claims and lawsuits as of September 30, 2022, as they are not expected to have a significant impact on the financial statements[139]. - No significant subsequent events have occurred after the reporting period up to the date of this report[155]. - The company has not purchased, redeemed, or sold any of its listed securities during the relevant period[153].

Financial Performance - The company recorded a net profit of approximately HKD 3.0 million, an increase of 353.4% compared to approximately HKD 652,000 for the year ended March 31, 2021[5]. - Revenue increased by 14.5% to approximately HKD 511.6 million, up from approximately HKD 446.8 million for the year ended March 31, 2021[14]. - The gross profit reached approximately HKD 18.9 million, representing an increase of 113.1% from approximately HKD 8.9 million for the previous year[15]. - The group recorded a profit attributable to equity holders of approximately HKD 3.0 million, an increase of about HKD 2.3 million compared to the year ended March 31, 2021[21]. - Basic and diluted earnings per share increased to HKD 0.25 from HKD 0.05, indicating strong growth in profitability[180]. - Revenue for the year ended March 31, 2022, was HKD 511,568 thousand, an increase of 14.5% from HKD 446,846 thousand in the previous year[180]. - Gross profit for the same period was HKD 18,872 thousand, compared to HKD 8,856 thousand in the previous year, reflecting a significant improvement[180]. Contracts and Backlog - The company has a backlog of contracts amounting to over HKD 414.2 million as of March 31, 2022, indicating confidence in maintaining financial performance in the coming year[11]. - The company secured 5 new contracts with a total original contract value of approximately HKD 296.0 million during the reporting period[12]. - The company holds 19 projects with a total original contract value of approximately HKD 1.6 billion as of March 31, 2022[13]. Cash Flow and Liquidity - As of March 31, 2022, the group had cash and cash equivalents totaling approximately HKD 11.9 million, up from approximately HKD 6.0 million in 2021, primarily due to cash inflows from operating activities[23]. - Cash and cash equivalents at the end of the year were HKD 11,881 thousand, compared to HKD 5,966 thousand at the end of the previous year, showing improved liquidity[194]. - Operating cash flow for the year was HKD 41,208 thousand, significantly higher than HKD 26,530 thousand in the previous year[194]. Expenses and Costs - Administrative expenses remained stable at approximately HKD 21.8 million compared to the previous year[18]. - Financing costs decreased by approximately HKD 1.4 million or 76.2% to about HKD 444,000 due to the repayment of interest-bearing bank loans[20]. - The total employee cost for the period was approximately HKD 88.6 million, compared to approximately HKD 73.0 million in 2021[38]. Debt and Equity - The group's debt-to-equity ratio as of March 31, 2022, was approximately 53.3%, an increase from approximately 46.1% in 2021, mainly due to an increase in total debt of about HKD 7.2 million during the period[23]. - The total equity attributable to equity holders increased to HKD 80,788 thousand from HKD 77,832 thousand, reflecting a positive trend in shareholder value[184]. Corporate Governance - The board of directors includes both executive and independent non-executive members, ensuring compliance with independence standards[66]. - The company has adopted the corporate governance code as per the listing rules, with a commitment to transparency and accountability[116]. - The board consists of five members, including two executive directors and three independent non-executive directors, ensuring a diverse range of business experience and expertise[119]. - The company has a dedicated audit committee, remuneration committee, and nomination committee to oversee governance matters[111]. - All independent non-executive directors confirmed their independence according to the listing rules, and the company believes they meet the independence guidelines[121]. Risk Management - The company has identified operational risks including adverse weather and geological issues that may impact project costs and timelines[92]. - The company has implemented measures to mitigate risks, including hiring qualified safety officers and conducting regular safety audits[93]. - The company has engaged an external independent consultant to review the effectiveness of its risk management and internal control systems[142]. Sustainability and Community Engagement - Sustainability is a key factor for the company's development, focusing on reducing environmental impacts through energy-efficient equipment and materials[99]. - The company is committed to regularly reviewing policies aimed at reducing resource use, waste, and energy consumption while actively participating in community activities[99]. - The group aims to improve its policies to fulfill its environmental, social, and ethical responsibilities while enhancing corporate governance[152]. Shareholder Communication - The company emphasizes the importance of maintaining good communication with shareholders and has established several communication channels[144]. - The company has established procedures for shareholders to propose new resolutions at general meetings, requiring a written request to the board[149]. Audit and Financial Reporting - The independent auditor, Crowe (HK) CPA Limited, has audited the consolidated financial statements for the relevant period and is eligible for reappointment at the annual general meeting[95]. - The independent auditor's report confirms that the consolidated financial statements fairly reflect the group's financial position as of March 31, 2022, in accordance with Hong Kong Financial Reporting Standards[156]. - The audit identified expected credit loss assessments and contract assets as key audit matters due to the significant management estimates involved[165].

Financial Performance - The company recorded a net profit of approximately HKD 2.1 million for the six months ended September 30, 2021, compared to a net loss of approximately HKD 6.7 million for the same period in 2020, marking a significant turnaround [7]. - Revenue from foundation engineering reached approximately HKD 266.4 million, an increase of approximately HKD 153.0 million or 134.9% compared to approximately HKD 113.4 million for the six months ended September 30, 2020 [10]. - Gross profit for the period was approximately HKD 11.3 million, an increase of approximately HKD 8.6 million or 318.5% from approximately HKD 2.7 million for the same period in 2020 [12]. - The company reported revenue of HKD 266,442 thousand for the six months ended September 30, 2021, compared to HKD 113,424 thousand for the same period in 2020, representing an increase of 134.0% [57]. - Gross profit for the period was HKD 11,345 thousand, a significant increase from HKD 2,691 thousand in the previous year [57]. - The net profit attributable to equity holders for the period was HKD 2,144 thousand, recovering from a loss of HKD 6,703 thousand in the same period last year [57]. Contracts and Projects - The company secured three new contracts with a total original contract value of approximately HKD 48.8 million during the period [9]. - The company has a total of 19 projects on hand, with an original contract value of approximately HKD 1.3 billion as of September 30, 2021 [9]. - The company reported contract revenue of HKD 266,442 thousand for the six months ended September 30, 2021, compared to HKD 113,424 thousand for the same period in 2020, representing an increase of 134% [86]. - Revenue from private projects amounted to HKD 109,791 thousand, while public projects generated HKD 156,651 thousand, indicating a significant shift towards public sector contracts [92]. Financial Position - As of September 30, 2021, the group's cash and cash equivalents totaled approximately HKD 9.4 million, up from HKD 6.0 million as of March 31, 2021 [22]. - The group's debt-to-equity ratio increased to approximately 55.6% as of September 30, 2021, compared to 46.1% as of March 31, 2021, primarily due to an increase in payables to a director [24]. - Current assets increased to HKD 191,804 thousand as of September 30, 2021, compared to HKD 166,853 thousand as of March 31, 2021 [61]. - The group’s total assets less current liabilities amounted to HKD 85,212 thousand as of September 30, 2021, compared to HKD 82,564 thousand as of March 31, 2021 [61]. - The group’s equity attributable to equity holders increased to HKD 79,976 thousand from HKD 77,832 thousand during the same period [61]. Expenses and Costs - Administrative expenses decreased to approximately HKD 9.0 million, a reduction of approximately HKD 0.3 million or 3.2% from approximately HKD 9.3 million for the same period in 2020 [14]. - Financing costs decreased to approximately HKD 0.6 million, a reduction of approximately HKD 0.3 million or 33.3% compared to approximately HKD 0.9 million for the same period in 2020 [15]. - Employee costs, including directors' remuneration, rose to HKD 45,701,000 for the six months ended September 30, 2021, compared to HKD 32,707,000 in the same period of 2020, representing a 39.7% increase [96]. - The total compensation for directors and senior management for the six months ended September 30, 2021, was HKD 2,216,000, a decrease of 17.9% from HKD 2,701,000 in the same period of 2020 [159]. Cash Flow and Investments - The net cash generated from operating activities was HKD 1,175 thousand, a decrease from HKD 18,030 thousand in the previous year [68]. - The group invested approximately HKD 3.8 million in the purchase of properties, plants, and equipment during the period [29]. - The group plans to allocate approximately HKD 10.0 million of the unutilized net proceeds for obtaining more contracts intended for bidding by March 31, 2022 [43]. Governance and Compliance - The company has adopted the corporate governance code as per the listing rules, with a noted deviation regarding the roles of Chairman and CEO being held by the same individual, Mr. Chen [183]. - The audit committee, established on May 14, 2018, is responsible for reviewing financial statements and ensuring compliance with applicable accounting standards and regulations [192]. - The unaudited condensed consolidated financial statements for the relevant period have been reviewed by the audit committee, which confirmed compliance with applicable accounting standards and proper disclosures [193]. Other Financial Metrics - The basic earnings per share for the six months ended September 30, 2021, was HKD 0.18, compared to a loss per share of HKD 0.56 in the same period of 2020 [103]. - Trade receivables increased to HKD 41,845,000 as of September 30, 2021, compared to HKD 24,140,000 as of March 31, 2021, indicating growth in sales and credit management [111]. - The expected credit loss provision for trade receivables remained unchanged at HKD 787,000 as of September 30, 2021, compared to HKD 771,000 in the previous year [116].

Financial Performance - The company recorded a net profit of approximately HKD 652,000 for the year ended March 31, 2021, compared to a net loss of approximately HKD 25,746,000 in the previous period, primarily due to effective measures taken to mitigate the impact of COVID-19 [7]. - Revenue from foundation engineering services reached approximately HKD 446.8 million, an increase of approximately HKD 233.7 million or 109.7% compared to HKD 213.1 million for the year ended March 31, 2020 [13]. - The gross profit for the period was approximately HKD 8.9 million, a decrease of approximately HKD 7.2 million or 44.8% compared to HKD 16.0 million for the year ended March 31, 2020, mainly due to significant losses from certain project changes [14]. - The group recorded a profit attributable to equity holders of approximately HKD 0.7 million, an improvement from a loss of approximately HKD 25.7 million for the year ended March 31, 2020 [21]. - The total revenue for the year ended March 31, 2021, was HKD 446,846,000, compared to HKD 213,121,000 for the previous year, representing a significant increase of 109.5% [180]. - The gross profit for the year was HKD 8,856,000, while the previous year's gross profit was HKD 16,033,000, indicating a decrease of 44.2% [180]. - The company reported a basic and diluted earnings per share of HKD 0.05, recovering from a loss per share of HKD 2.15 in the previous year [180]. Project and Contract Management - The company had a total of 17 projects on hand as of March 31, 2021, with an original contract value of approximately HKD 1.3 billion [12]. - The company secured 6 new contracts during the reporting period, with an original contract value of approximately HKD 470.5 million [11]. - The company had approximately HKD 631.5 million in unrecognized contract amounts as of March 31, 2021, indicating a strong pipeline for future revenue [10]. Expenses and Costs - Administrative expenses decreased to approximately HKD 21.6 million, down by approximately HKD 2.9 million or 11.7% from HKD 24.5 million in the previous year, primarily due to reduced legal and professional fees [18]. - The financing cost for the group during the period reached approximately HKD 1.9 million, a decrease of about HKD 0.1 million or 5.4% compared to approximately HKD 2.0 million for the year ended March 31, 2020 [20]. - The total employee cost for the group was approximately HKD 73.0 million, an increase from approximately HKD 65.3 million in 2020, with a total of 149 employees as of March 31, 2021 [39]. Cash Flow and Financial Position - As of March 31, 2021, the group had total cash and cash equivalents of approximately HKD 6.0 million, remaining stable compared to approximately HKD 5.9 million in 2020 [22]. - The cash and bank balances as of March 31, 2021, were HKD 8,527,000, compared to HKD 7,357,000 in the previous year, showing an increase of 15.9% [184]. - The year-end cash and cash equivalents stood at HKD 5,966 thousand, up from HKD 5,857 thousand at the beginning of the year, despite significant fluctuations during the year [191]. - The company reported a return of HKD 2,224 thousand in income tax, compared to a payment of HKD 556 thousand in the previous year, reflecting a change in tax obligations [191]. Corporate Governance - The board of directors includes both executive and independent non-executive members, with some directors eligible for re-election at the annual general meeting [61]. - The company has established three committees: Audit Committee, Nomination Committee, and Remuneration Committee, to enhance governance [126]. - The company has adopted the corporate governance code as per the listing rules, with a commitment to transparency and accountability [114]. - The company has confirmed that all directors have complied with the standard code regarding securities transactions during the reporting period [116]. - The company aims to adhere to the corporate governance code and will disclose any deviations in its interim and annual reports [115]. Sustainability and Community Engagement - The group is committed to sustainability, focusing on reducing environmental impacts through operational efficiency and eco-friendly measures [95]. - The company has engaged two qualified safety officers to monitor the work environment and implement safety regulations [89]. - The group actively participates in community activities and contributes to social welfare [95]. Shareholder Relations - The company emphasizes the importance of maintaining good communication with shareholders and has established several channels for transparency [146]. - Eligible shareholders can request a special general meeting if they hold at least 10% of the paid-up capital [148]. - The company has established procedures for shareholders to submit written questions to the board at its main business location [149]. Risk Management and Internal Controls - The company has engaged an external independent consultant to review the effectiveness of its risk management and internal control systems [143]. - The audit identified the assessment of expected credit losses for trade and other receivables and contract assets as a key audit matter due to the significant management judgment involved [165]. Future Outlook - The company remains cautiously optimistic about its future financial performance and aims to expand profitability [10]. - The company has indicated plans for market expansion and new product development in the upcoming fiscal year [180].