A.Plus Group Holdings Limited 優越集團控股有限公司 (Incorporated in the Cayman Islands with limited liability) (於爾曼群島註冊成立之有限公司) Stock Code 股份代號: 1841 Interim 2021/22 +期報告 目錄 1 目錄 | --- | --- | |-------|--------------------------------------| | | | | | | | | 公司資料 | | | 管理層討論及分析 | | | 其他資料 | | 12 | 未經審核簡明綜合損益及其他全面收益表 | | 13 | 未經審核簡明綜合財務狀況表 | | 14 | 未經審核簡明綜合權益變動表 | | 15 | 未經審核簡明綜合現金流量表 | | 16 | 未經審核簡明綜合中期財務報表附註 | 公司資料 2 優越集團控股有限公司 二零二一╱二二年中期報告 1841 梁兆康先生 公司資料 | --- | --- | --- | |-------------------------|-------------- ...

Financial Performance - For the fiscal year ending March 31, 2021, the company recorded revenue of approximately HKD 134.4 million, a decrease of about 8.3% from approximately HKD 146.6 million in the previous year[6]. - The gross profit for the same period was approximately HKD 66.4 million, down about 12.8% from approximately HKD 76.1 million year-on-year[6]. - The net profit after tax increased to approximately HKD 27.6 million, representing a growth of about 6.4% compared to approximately HKD 25.9 million in the previous year[6]. - The company's net profit margin improved slightly to approximately 20.5%, compared to about 17.7% in the previous year[6]. - Revenue for the year ended March 31, 2021, was HKD 134,356,000, a decrease of 8.2% from HKD 146,551,000 in 2020[188]. - Gross profit decreased to HKD 66,384,000, down 12.8% from HKD 76,148,000 in the previous year[188]. - Other income increased significantly to HKD 8,890,000, compared to HKD 3,396,000 in 2020, representing a growth of 162.5%[188]. - Profit before tax rose to HKD 31,680,000, an increase of 3.5% from HKD 30,601,000 in the prior year[188]. - Net profit attributable to owners was HKD 27,583,000, up 6.4% from HKD 25,920,000 in 2020[188]. - Basic and diluted earnings per share increased to HKD 6.90, compared to HKD 6.48 in the previous year[188]. Revenue Breakdown - Revenue from the compliance documents segment was approximately HKD 35,700,000, maintaining relative stability compared to approximately HKD 34,300,000 from the previous year, accounting for about 26.5% of total revenue[9]. - Revenue from the debt issuance and IPO prospectus segment was approximately HKD 72,400,000, compared to approximately HKD 74,800,000 from the previous year, representing about 53.9% of total revenue[9]. - The revenue from the asset management services segment was approximately HKD 2,100,000, a decrease of about 21.6% from approximately HKD 2,600,000 in the previous year, accounting for about 1.5% of total revenue[13]. - The revenue from other services, including independent translation and design, increased by approximately 30.9% to about HKD 5,000,000, driven by increased market demand[13]. Expenses and Costs - Administrative expenses decreased from approximately HKD 30,200,000 to approximately HKD 24,900,000, primarily due to reductions in depreciation, employee costs, and legal fees[18]. - The group's service costs decreased from approximately HKD 70,400,000 to approximately HKD 68,000,000, a reduction of about 3.5%[15]. - The group's sales and distribution expenses decreased from approximately HKD 15,400,000 to approximately HKD 14,500,000, a decrease of about 5.6%[15]. - The group's income tax expense decreased from approximately HKD 4,700,000 to approximately HKD 4,100,000, mainly due to a reduction in taxable profits after deducting non-taxable government subsidies of approximately HKD 5,200,000[19]. Dividends and Shareholder Returns - The board proposed a final dividend of HKD 0.125 per share for the fiscal year, compared to no interim dividend in the previous year[7]. - The company has established a robust dividend policy to balance shareholder returns with long-term sustainable development[7]. - The company reported a total reserve available for distribution to shareholders of approximately HKD 121 million as of March 31, 2021, compared to HKD 93.4 million in 2020, representing a year-over-year increase of 29.5%[45]. - The company did not declare any interim dividends for the year ended March 31, 2021, while it declared a final dividend of HKD 0.125 per share[42]. Market and Economic Conditions - The ongoing COVID-19 pandemic and specific industry factors are expected to create uncertainties affecting the global economy and the financial printing industry[6]. - The company is preparing to seize new market opportunities, particularly focusing on initial public offering projects[6]. Governance and Management - The company has a strong governance structure with various committees including audit, remuneration, and nomination committees[33]. - The management team has extensive experience, with the CEO having over 25 years in management and business development[30]. - The CFO has over 29 years of experience in accounting, auditing, finance, and compliance[31]. - The independent non-executive director has over 23 years of experience in accounting and finance[33]. - The company has a diverse board with members having international qualifications and memberships in various accounting and governance organizations[33]. - The company emphasizes the importance of independent non-executive directors in providing independent judgment on strategy, policy, and performance[99]. Risk Management and Compliance - The company has established an effective risk management and internal control system, complying with the relevant codes[132]. - The board has reviewed the effectiveness of the risk management and internal control systems, finding them to be effective and adequate[146]. - The company has implemented measures to prevent insider trading and ensure accurate public disclosures[141]. - The internal audit function is independent and evaluates the risk management and internal control systems annually[145]. Shareholder Information - The company is required to hold a special general meeting upon the request of shareholders holding at least 10% of the paid-up capital[154]. - Shareholders can submit written inquiries to the board through the company secretary, ensuring transparency and communication[152]. - The company has established a shareholder communication policy to ensure timely and comprehensive information is provided to shareholders and investors[159].

Revenue and Profitability - The group's revenue decreased by approximately 7.9%, from about HKD 80,400,000 for the six months ended September 30, 2019, to about HKD 74,100,000 for the same period in 2020[6] - Revenue from the bond prospectus and IPO prospectus segment decreased by approximately HKD 8,500,000, while revenue from the performance announcement and financial reporting segment increased by approximately HKD 1,000,000, and revenue from company announcements and shareholder circulars increased by approximately HKD 1,100,000[9] - Gross profit decreased by approximately 15.8%, from about HKD 45,500,000 to about HKD 38,300,000[12] - The group's profit after tax decreased by approximately 1.1% or about HKD 200,000 to approximately HKD 19,000,000 for the six months ended September 30, 2020, compared to HKD 19,200,000 for the same period in 2019[20] - Profit attributable to owners of the company was HKD 18,969,000, slightly down from HKD 19,180,000, representing a decrease of 1.1%[57] - Basic and diluted earnings per share were HKD 4.74, compared to HKD 4.80 for the previous year, indicating a decline of 1.3%[57] Income and Expenses - Other income increased significantly from about HKD 1,100,000 to approximately HKD 7,400,000, mainly due to government subsidies of about HKD 5,200,000 received under the employment support scheme[13] - Employee costs, including director remuneration, amounted to approximately HKD 25,200,000 for the reporting period, compared to approximately HKD 24,600,000 for the same period in 2019[23] - The company incurred total employee costs of 22,687 thousand HKD for the six months ended September 30, 2020, an increase from 22,045 thousand HKD in the same period in 2019, representing an increase of about 2.9%[88] - The company’s income tax expense for the six months ended September 30, 2020, was 3,728 thousand HKD, up from 3,592 thousand HKD in the same period of 2019, reflecting an increase of about 3.8%[86] - Financing costs decreased from approximately HKD 107,000 to about HKD 37,000[17] - The company reported a decrease in financing costs, with interest on lease liabilities dropping to 37 thousand HKD from 107 thousand HKD in the previous year, a reduction of approximately 65.4%[84] Dividends and Share Capital - The group did not recommend any dividend for the six months ended September 30, 2020, compared to HKD 0.025 per share for the same period in 2019[8] - The company did not declare any dividends for the six months ended September 30, 2020, compared to a total dividend distribution of 40,000 thousand HKD for the same period in 2019[91] - The total issued and paid-up share capital remained at HKD 4,000,000 as of September 30, 2020, unchanged from March 31, 2020[102] Assets and Liabilities - The asset-liability ratio increased significantly to 8.2% as of September 30, 2020, compared to 1.1% as of March 31, 2020, primarily due to lease liabilities from two lease agreements confirmed on August 7, 2020[21] - The group's net current assets increased from approximately HKD 118,300,000 as of March 31, 2020, to approximately HKD 134,200,000 as of September 30, 2020[22] - Cash and cash equivalents rose from approximately HKD 105,200,000 as of March 31, 2020, to approximately HKD 131,700,000 as of September 30, 2020[22] - Total assets as of September 30, 2020, were HKD 168,873,000, an increase from HKD 149,705,000 as of the previous year, reflecting a growth of 12.8%[59] - Cash and cash equivalents at the end of the period were HKD 131,696,000, up from HKD 110,057,000, representing an increase of 19.6%[66] - Non-current assets increased to HKD 26,583,000 from HKD 15,021,000, a significant rise of 77.5%[59] Trade Receivables and Payables - Trade receivables impairment losses increased from approximately HKD 1,900,000 to about HKD 2,400,000[16] - Trade receivables (net of impairment) increased to HKD 32,940,000 as of September 30, 2020, from HKD 23,389,000 as of March 31, 2020, representing a growth of 40.9%[95] - Trade payables decreased to HKD 13,252,000 as of September 30, 2020, down from HKD 15,234,000 as of March 31, 2020, a decline of 13.0%[97] - Total trade and other payables amounted to HKD 23,390,000 as of September 30, 2020, compared to HKD 25,375,000 as of March 31, 2020, reflecting a decrease of 8.0%[97] - The aging analysis of trade receivables shows that HKD 12,362,000 is within 30 days, up from HKD 10,807,000 in the previous period, indicating a 14.4% increase[96] - Trade receivables over 365 days increased to HKD 665,000 as of September 30, 2020, from HKD 310,000 as of March 31, 2020, a rise of 114.8%[96] Corporate Governance and Compliance - The company has adopted the corporate governance code as per the listing rules and has complied with it during the reporting period[45] - There were no interests held by directors or controlling shareholders in any competing businesses as of September 30, 2020[47] - The company confirmed compliance with the non-competition agreement by its major shareholders during the reporting period[52] - The audit committee reviewed the unaudited condensed consolidated financial statements for the six months ended September 30, 2020[54] Future Outlook and Challenges - The group anticipates challenges due to global economic downturn and uncertainties from the COVID-19 pandemic, impacting market sentiment and investor confidence[7] - The group aims to leverage its competitive advantages in branding and network to expand its customer base while enhancing professional service levels[7] Other Information - The group had no significant investments or acquisitions during the six months ended September 30, 2020[25] - There were no major investment or capital asset plans as of September 30, 2020[28] - The group had no contingent liabilities as of September 30, 2020[29] - The group does not face significant foreign exchange risks as its business activities are conducted primarily in Hong Kong and denominated in HKD[30] - There were no significant events after the reporting period ended[31] - No share options were granted during the six months ended September 30, 2020, and there were no unexercised options as of that date[42] - The company did not purchase, sell, or redeem any of its listed securities during the six months ended September 30, 2020[43] - The company has implemented financial risk management to ensure all payables are settled within the credit period[105]