Financial Performance - For the six months ended September 30, 2021, the group's revenue decreased by approximately HKD 38.6 million or 26.7% to about HKD 105.7 million, compared to HKD 144.3 million for the same period in 2020[15] - The group achieved a gross profit of approximately HKD 4.9 million, a significant improvement of 120.3% from a gross loss of HKD 24.1 million in the same period last year[16] - The gross profit margin for the six months ended September 30, 2021, was approximately 4.6%, compared to a gross loss margin of 16.7% for the same period in 2020[16] - Revenue for the six months ended September 30, 2021, was HKD 105,714,000, a decrease of 26.9% compared to HKD 144,341,000 for the same period in 2020[40] - Loss attributable to equity holders for the period was HKD 1,296,000, significantly improved from a loss of HKD 26,552,000 in the same period last year[40] - Basic and diluted loss per share was HKD 0.27, compared to HKD 5.53 for the same period in 2020[40] - The net loss for the six months ended September 30, 2021, was approximately HKD 1.3 million, a significant decrease of 95.1% from approximately HKD 26.6 million in the same period of 2020[21] Revenue and Market Conditions - The decrease in revenue was primarily attributed to a reduction in the number of large projects in the market during the reporting period[15] - The overall business atmosphere has shifted significantly due to the pandemic, affecting operational dynamics in the renovation market[13] - There is an expectation of a future increase in the number of pending renovation and refurbishment projects, which may lead to improved business opportunities[13] Operating Expenses and Costs - Administrative and other operating expenses for the six months ended September 30, 2021, were approximately HKD 5.4 million, a decrease of 21.7% from approximately HKD 6.9 million in the same period of 2020[18] - Financial costs decreased by approximately HKD 0.2 million or 22.2% to about HKD 0.7 million for the six months ended September 30, 2021, compared to approximately HKD 0.9 million for the same period in 2020[19] - Total employee costs for the six months ended September 30, 2021, were approximately HKD 9.2 million, a decrease from approximately HKD 14.9 million for the same period in 2020[31] - Employee costs for the six months ended September 30, 2021, were HKD 8,800,000, a decrease of 38.5% from HKD 14,263,000 in 2020[68] Cash Flow and Financial Position - As of September 30, 2021, the total cash and cash equivalents amounted to approximately HKD 17.2 million, down from approximately HKD 26.6 million as of March 31, 2021, due to a net cash outflow of approximately HKD 9.4 million from operating and financing activities[22] - The company reported a net cash outflow from operating activities of HKD 9,770,000 for the six months ended September 30, 2021, compared to a cash inflow of HKD 4,580,000 in the previous year[50] - Cash and bank balances decreased to HKD 14,109,000 from HKD 23,548,000 at the end of March 2021[42] - The cash and bank balances decreased to HKD 14,109,000 as of September 30, 2021, down from HKD 23,548,000 as of March 31, 2021, representing a decline of 40.3%[94] Assets and Liabilities - Total assets less current liabilities amounted to HKD 134,958,000, a slight decrease from HKD 136,707,000 as of March 31, 2021[42] - The total liabilities for trade and other payables were HKD 17,219,000 as of September 30, 2021, compared to HKD 26,191,000 as of March 31, 2021, reflecting a decrease of 34.2%[97] - The debt-to-equity ratio increased from approximately 35.3% as of March 31, 2021, to approximately 36.5% as of September 30, 2021, primarily due to an increase in bank borrowings[22] Corporate Governance and Shareholder Information - The board resolved not to declare any interim dividend for the six months ended September 30, 2021, consistent with the same period in 2020[32] - Kairong Holdings Limited holds 75% of the issued share capital of the company, with ownership distributed among its directors: Mr. Wen Haiyuan (50%), Ms. Wu Yanzhen (30%), and Mr. He Zhikang (20%)[125] - The company has maintained sufficient public float as required by the listing rules as of September 30, 2021[131] - The company has complied with all provisions of the corporate governance code during the reporting period[133] Audit and Management - The audit committee, consisting of independent non-executive directors, reviewed and approved the unaudited interim financial statements for the six months ending September 30, 2021[136] - The board expressed gratitude to the management team, employees, shareholders, investors, and business partners for their support and contributions[137]

Yield Go Holdings Ltd. 耀高控股有限公司 (於開曼群島註冊成立之有限公司） 股份代號 : 1796 2021 年度報告 | --- | --- | |--------|---------------------------| | | | | 目錄 | | | | | | 2–3 | 公司資料 | | 4–5 | 主席報告 管理層討論及分析 | | 6–12 | | | 13–17 | 董事及高級管理層履歷資料 | | 18–29 | 企業管治報告 | | 30–38 | 環境、社會及管治報告 | | 39–48 | 董事會報告 | | 49–53 | 獨立核數師報告 | | 54 | 綜合損益及其他全面收益表 | | 55 | 綜合財務狀況表 | | 56 | 綜合權益變動表 | | 57 | 綜合現金流量表 | | 58–103 | 綜合財務報表附註 | | 104 | 財務資料概要 | 公司資料 | --- | --- | |-------------------------------------------------------------------------------- ...

Financial Performance - For the six months ended September 30, 2020, the group's revenue decreased by approximately HKD 83.8 million or 36.7% to approximately HKD 144.3 million, compared to HKD 228.1 million for the same period in 2019[9]. - The group recorded a gross loss of approximately HKD 24.1 million for the six months ended September 30, 2020, a decrease of approximately HKD 37.6 million or 278.5% from a gross profit of approximately HKD 13.5 million for the same period in 2019[12]. - The company recorded a net loss of approximately HKD 26.6 million for the six months ended September 30, 2020, compared to a net profit of approximately HKD 3.7 million for the same period in 2019[17]. - Basic and diluted loss per share was HKD (5.53), compared to earnings of HKD 0.78 per share in the prior year[39]. - The company's pre-tax loss for the six months ended September 30, 2020, was HKD 26,552,000, compared to a profit of HKD 3,742,000 for the same period in 2019[83]. Revenue and Income - Revenue for the six months ended September 30, 2020, was HKD 144,341,000, a decrease of 36.8% compared to HKD 228,059,000 for the same period in 2019[39]. - Other income for the six months ended September 30, 2020, was approximately HKD 5.4 million, primarily from government subsidies, compared to a loss of approximately HKD 34,000 for the same period in 2019[13]. - The company recognized HKD 10,000,000 in rental concessions related to COVID-19 as other income during the reporting period[61]. - The group recognized financial support of approximately HKD 5,313,000 from the Hong Kong government under the "Employment Support Scheme" as part of COVID-19 relief measures[72]. Expenses and Costs - Administrative and other operating expenses decreased by 11.5% to approximately HKD 6.9 million for the six months ended September 30, 2020, down from HKD 7.8 million for the same period in 2019[14]. - Total financial costs for the six months ended September 30, 2020, were HKD 907,000, a decrease from HKD 1,072,000 in the same period of 2019[73]. - The total employee costs for the six months ended September 30, 2020, amounted to approximately HKD 14.9 million, a decrease from HKD 22.9 million for the same period in 2019[30]. - The overall construction costs increased due to project delays caused by the COVID-19 pandemic, leading to additional operational costs[12]. Cash Flow and Financial Position - As of September 30, 2020, the company's cash and cash equivalents totaled approximately HKD 31.5 million, an increase from approximately HKD 28.3 million as of March 31, 2020, due to a net cash inflow of approximately HKD 3.2 million from operating, investing, and financing activities[18]. - The net increase in cash and cash equivalents was HKD 3,138,000, compared to a net increase of HKD 15,203,000 in the previous year[50]. - Cash and cash equivalents at the end of the period were HKD 28,405,000, down from HKD 65,675,000 at the end of the same period in 2019[50]. - The company's debt-to-equity ratio increased from approximately 29.3% as of March 31, 2020, to approximately 34.4% as of September 30, 2020, primarily due to an increase in bank borrowings[18]. Operational Overview - The construction industry in Hong Kong continues to face challenges due to the economic downturn and the impact of the COVID-19 pandemic[6]. - The group is closely monitoring market conditions and is prepared to respond actively to any changes[10]. - The board remains confident in maintaining the group's competitiveness and has a positive outlook for the future, despite the challenging operating environment[10]. - The group will implement appropriate measures, such as cost control, to improve financial performance in response to the ongoing market conditions[10]. Corporate Governance and Compliance - The audit committee, consisting of independent non-executive directors, reviewed and approved the unaudited condensed consolidated interim financial statements for the six months ending September 30, 2020[143]. - The company confirmed compliance with all provisions of the corporate governance code during the reporting period[140]. - There were no conflicts of interest reported by directors or major shareholders in any business that competes with the group during the six months ending September 30, 2020[139]. Shareholder Information - The company holds 75% equity interest in the issued share capital, with 360,000,000 shares held by the controlling entity[127]. - The company has a significant shareholder, Kairong Holdings Limited, which holds 75% of the issued share capital, with Mr. Wen Haiyuan owning 50%, Ms. Wu Yanzhen 30%, and Mr. He Zhikang 20% of that entity[132][133]. - The group did not declare or propose any interim dividends for the six months ended September 30, 2020[81].

Financial Performance - The total revenue for the fiscal year ended March 31, 2020, was approximately HKD 420.3 million, a decrease of about 37.2% compared to the previous fiscal year[7]. - The loss attributable to equity holders for the fiscal year was approximately HKD 8.0 million, primarily due to increased construction costs and a more competitive pricing strategy[7]. - The company's revenue decreased by approximately 37.2% to about HKD 420.3 million, down from HKD 669.8 million in the previous fiscal year[15]. - Gross profit fell by about 85.8% to approximately HKD 11.4 million, compared to HKD 80.4 million in the previous fiscal year, resulting in a gross margin of about 2.7%, down from 12.0%[16]. - The company recorded a net loss of approximately HKD 8.0 million, compared to a net profit of about HKD 36.0 million in the previous fiscal year[22]. - Administrative expenses decreased by approximately 47.4% to about HKD 17.1 million, down from HKD 32.5 million in the previous fiscal year[18]. - Financial costs increased by 22.2% to about HKD 2.2 million, up from HKD 1.8 million in the previous fiscal year, due to increased bank financing usage[20]. - The company's cash and cash equivalents totaled approximately HKD 28.3 million, down from HKD 53.5 million in the previous fiscal year[23]. - The debt-to-equity ratio increased from approximately 11.7% to about 29.3% due to increased bank borrowings during the fiscal year[23]. - Other income decreased to about HKD 46,000 from HKD 62,000 in the previous fiscal year, primarily due to reduced bank interest income[17]. Market Conditions - The construction industry in Hong Kong experienced its first decline since 2006, with the total value of construction works performed by main contractors decreasing by 6.2% compared to 2018[7]. - The number of completed local units dropped by 31.3% to 14,421, marking the first decline in four years[7]. - The overall economic sentiment was severely impacted by the COVID-19 pandemic and social unrest, leading to a significant drop in investment intentions[11]. - The construction and renovation projects faced delays and increased operational costs due to the need for social distancing measures during the pandemic[11]. - The company anticipates continued challenges in the upcoming year due to the ongoing impact of the COVID-19 pandemic on global markets[14]. Strategic Plans and Governance - The company plans to cautiously advance in a challenging business environment characterized by pessimistic market sentiment and low investment intentions[8]. - The company aims to maintain reliable operational performance and implement strategic plans in the coming year[8]. - The company has established a management structure that incorporates good corporate governance elements and internal control procedures[64]. - The company has adopted and complied with the corporate governance code as per the Listing Rules Appendix 14, ensuring effective accountability and shareholder value maximization[64]. - The board consists of six members, including three executive directors and three independent non-executive directors, ensuring a balanced composition for effective independent judgment[66]. Corporate Governance - The company has established a remuneration committee and an audit committee to ensure proper oversight and accountability[58]. - The independent non-executive directors are responsible for overseeing management and providing independent judgment on the group's strategy and performance[58]. - The company has appointed independent non-executive directors with extensive experience in law and finance, enhancing governance and oversight[59][61]. - The board will regularly review corporate governance policies and make necessary amendments to comply with applicable code provisions[64]. - The company has arranged appropriate insurance for all directors to cover their responsibilities[77]. Environmental and Social Responsibility - The company emphasizes the importance of environmental, social, and governance (ESG) responsibilities, aiming for sustainable business practices while maintaining operational growth[113]. - The company is committed to reducing unnecessary resource use and emissions during its business processes, particularly in project planning and procurement[115]. - The company maintained compliance with environmental regulations, with no reported violations regarding emissions or waste disposal[121]. - The company implemented internal guidelines to encourage energy and water conservation among employees[120]. - The group actively participates in various charitable activities and encourages employees to engage in volunteer work, especially during challenging times like the COVID-19 pandemic[136]. Employee and Workforce Management - Employee costs for the review year totaled approximately HKD 42.1 million, compared to HKD 43.4 million in the previous fiscal year[39]. - The company employed 73 full-time employees as of March 31, 2020, down from 90 full-time employees the previous year[39]. - The management team decreased from 23 to 16 members, a reduction of 30.4% year-over-year[124]. - The company aims to enhance employee welfare and development, ensuring equal opportunities and anti-discrimination policies[125]. - The company conducted training sessions on safety and risk awareness for employees, focusing on construction site hazards[128]. Shareholder and Financial Communication - The company encourages shareholder participation in annual general meetings, with the next meeting scheduled for August 31, 2020[110]. - The company has a shareholder communication policy to provide balanced and understandable information to shareholders and investors[110]. - The company has implemented procedures to ensure insider information is disclosed fairly and timely according to applicable laws and regulations[103]. - The company has disclosed the remuneration details of directors and the five highest-paid individuals in the financial statements[172]. Risk Management - The company has established a risk management and internal control system, with annual reviews submitted to the board and audit committee[102]. - The company has not set up an internal audit function but has engaged CT Partners Consultants Limited to review the effectiveness of its risk management and internal control systems[102]. - The group has not experienced any significant violations of environmental laws and regulations that would materially impact its business and operations during the review year[150].

Financial Performance - For the six months ended September 30, 2019, the company's revenue decreased by approximately HKD 53.0 million or 18.9% to approximately HKD 228.1 million, compared to HKD 281.1 million for the same period in 2018[11]. - The gross profit for the same period decreased by approximately HKD 19.8 million or 59.5% to approximately HKD 13.5 million, with a gross profit margin of approximately 5.9%, down from 11.9% in the previous year[14]. - Net profit for the six months ended September 30, 2019, decreased by approximately HKD 8.9 million or 70.6% to about HKD 3.7 million, mainly due to a reduction in large-scale projects and increased overall construction costs[19]. - Profit before tax was HKD 4,688,000, a decline of 71.5% from HKD 16,425,000 in the previous year[43]. - Basic and diluted earnings per share were HKD 0.78, down 77.7% from HKD 3.49 in the same period last year[43]. Revenue and Cost Analysis - The decrease in revenue was primarily attributed to a reduction in large-scale projects undertaken and the adoption of more competitive pricing strategies due to intense market competition[13]. - The total cost of direct materials and finished goods was 150,703 thousand HKD for the six months ended September 30, 2019, compared to 165,120 thousand HKD in 2018[98]. - Administrative and other operating expenses for the six months ended September 30, 2019, were approximately HKD 7.8 million, a decrease of 51.3% compared to HKD 16.0 million for the same period in 2018[16]. - Financial costs increased by approximately HKD 0.2 million or 22.2% to about HKD 1.1 million for the six months ended September 30, 2019, primarily due to increased bank borrowings[18]. Cash Flow and Liquidity - As of September 30, 2019, the group's cash and cash equivalents totaled approximately HKD 68.7 million, an increase from approximately HKD 53.5 million as of March 31, 2019, due to a net cash inflow of about HKD 15.2 million from operating, investing, and financing activities[20]. - The net cash used in operating activities for the six months ended September 30, 2019, was HKD (4,027,000), a significant improvement from HKD (25,730,000) in the previous year[57]. - The net cash generated from financing activities was HKD 20,429,000, up from HKD 8,091,000 in the same period of 2018[57]. - The total cash and cash equivalents at the end of the period reached HKD 65,675,000, compared to HKD 9,119,000 at the end of the same period last year[57]. Assets and Liabilities - Total assets as of September 30, 2019, were HKD 350,931,000, an increase from HKD 339,868,000 as of March 31, 2019[46]. - The debt-to-equity ratio increased from approximately 11.7% as of March 31, 2019, to about 26.3% as of September 30, 2019, primarily due to increased bank borrowings[20]. - Trade payables rose to HKD 85,673,000 as of September 30, 2019, up from HKD 48,985,000 as of March 31, 2019, indicating an increase of approximately 74.7%[138]. - The group has bank borrowings of HKD 47,276,000 as of September 30, 2019, compared to HKD 25,087,000 as of March 31, 2019, representing an increase of approximately 88.5%[146]. Corporate Governance and Compliance - The company has adopted the corporate governance code as per the listing rules and has complied with all provisions during the six months ended September 30, 2019[181]. - The audit committee, established on December 28, 2018, consists of three independent non-executive directors and has reviewed and approved the unaudited financial statements for the six months ended September 30, 2019[183]. - The company's independent auditor has reviewed the interim financial statements, ensuring compliance with accounting standards[63]. Future Outlook and Strategy - The company plans to implement appropriate measures such as cost control to improve financial performance while closely monitoring market conditions[11]. - The company remains optimistic about maintaining its competitiveness in the future despite the current challenges[11]. - The ongoing trend of launching new private developments may be affected by market conditions, potentially reducing demand for home renovation projects[7].

Yield Go Holdings Ltd. 耀高控股有限公司 (於開曼群島註冊成立之有限公司） 股份代號 : 1796 Yield Go Holdings Ltd. 耀高控股有限公司 (incorporated in the Cayman Islands with limited liability) Stock code : 1796 2019 Annual Report 2019 年 度 報告 目錄 2-3 公司資料 4 主席報告 5-11 管理層討論及分析 12-16 董事及高級管理層履歷資料 17-28 企業管治報告 29-33 環境、社會及管治報告 34-43 董事會報告 44-47 獨立核數師報告 48 綜合損益及其他全面收益表 49 綜合財務狀況表 50 綜合權益變動表 51 綜合現金流量表 52-115 綜合財務報表附註 116 財務資料概要 公司資料 董事會 執行董事 文海源先生（主席） 吳婉珍女士 何志康先生 獨立非執行董事 陳家宇先生 盧其釗先生 梁唯亷先生 審核委員會 陳家宇先生（主席） 盧其釗先生 梁唯亷先生 薪酬委員會 梁唯亷先生（主席） 陳家宇先生 盧其釗先生 提名委員會 文海 ...