Financial Performance - The company's revenue reached approximately HKD 394.5 million for the year ended April 30, 2024, an increase of about 42.1% compared to HKD 277.7 million in 2023[12] - The annual profit was approximately HKD 2.2 million, down from HKD 7.4 million in 2023, primarily due to a decrease in gross margin, reduced other income, and increased financial costs[12] - The basic and diluted earnings per share were HKD 0.02, compared to HKD 0.16 in 2023, based on a weighted average of 125,290,504 shares issued[12] - Revenue increased by approximately 48.0% from about HKD 259.3 million for the year ended April 30, 2023, to about HKD 383.8 million for the year ended April 30, 2024, representing an increase of approximately HKD 124.5 million due to the progress of ongoing installation projects[55] - Gross profit decreased by approximately HKD 1.4 million or 4.6% from about HKD 30.4 million for the year ended April 30, 2023, to about HKD 29.0 million for the year ended April 30, 2024, with a gross margin dropping to 7.4% due to increased sales costs of approximately HKD 365.5 million[58] - Basic earnings per share for 2024 were HKD 2,928, compared to HKD 7,054 for 2023, with the weighted average number of ordinary shares used for calculating basic earnings per share increasing from 44,545,298 to 125,290,504[45] - The pre-tax profit for the year 2024 was reported at HKD 2,928,000, compared to a profit of HKD 7,054,000 in 2023, indicating a decline of 58.6%[149] Assets and Equity - The total equity increased to HKD 273.9 million in 2024 from HKD 143.5 million in 2023[28] - The total assets less current liabilities amounted to HKD 274.4 million in 2024, compared to HKD 145.6 million in 2023[26] - The total amount of transaction price allocated to unsatisfied performance obligations was approximately HKD 516.7 million as of April 30, 2024, compared to HKD 497.4 million in 2023[19] - Total trade receivables amounted to HKD 99.9 million in 2024, compared to HKD 43.9 million in 2023, reflecting a significant increase[71] - The net amount of trade receivables after impairment provisions was HKD 78.3 million in 2024, up from HKD 23.4 million in 2023[71] Expenses and Costs - The company's administrative expenses increased to HKD 22.2 million in 2024 from HKD 20.1 million in 2023[15] - The financing costs rose to HKD 4.0 million in 2024 from HKD 1.7 million in 2023[15] - The cost of sales rose to approximately HKD 365.5 million in 2024, an increase of about 47.9% from approximately HKD 247.2 million in 2023[83] - The total employee costs (excluding director remuneration) for the year 2024 amounted to HKD 34,040,000, an increase from HKD 31,799,000 in 2023, representing a growth of 7.8%[155] - Other income for the year ended April 30, 2024, was approximately HKD 1.0 million, down from approximately HKD 2.7 million in 2023, primarily due to a decrease in government subsidies by about HKD 2.1 million[105] Dividends and Shareholder Information - The company did not recommend a final dividend for the year ended April 30, 2024, compared to no dividend in 2023[12] - The company has no plans to declare or recommend any dividends as of the reporting date[70] - The company does not recommend the payment of a final dividend for the year ending April 30, 2024 (2023: none)[139] - As of April 30, 2024, Mr. Li holds 14,390,000 shares, representing approximately 8.33% of the company's total issued share capital[140] Governance and Compliance - The company has established a remuneration committee to review its compensation policies, considering business performance and market practices[137] - The company has adhered to the corporate governance code as stipulated in the listing rules up to April 30, 2024[123] - There are no significant transactions or contracts involving directors or related entities as of April 30, 2024[128] - The company has not granted, exercised, cancelled, or allowed any share options to lapse as of April 30, 2024[129] - The audit committee has reviewed the consolidated results for the year ending April 30, 2024[131] Operational Focus and Market Position - The company provides maintenance and repair services for fire safety systems in completed properties, alongside installation services for fire safety systems in buildings under construction or renovation[52] - The company aims to maintain its market position by continuing to provide installation services and selling fire safety components, including those from a multinational brand supplier[52] - The group expects to launch more projects in Hong Kong and related works to maintain stable revenue sources in the coming year[99] - The company's operational focus is on the design, supply, and installation of fire safety systems for buildings under construction or renovation[161] Financial Ratios and Commitments - The group’s current ratio as of April 30, 2024, was 3.0, up from 2.0 as of April 30, 2023, due to increases in trade receivables and contract assets[113] - The group’s debt-to-asset ratio decreased to 20.7% as of April 30, 2024, from 41.6% as of April 30, 2023, mainly due to completed placements[113] - As of April 30, 2024, the group had no capital commitments[115] - The group pledged bank deposits of HKD 21.5 million as collateral for bank financing[116] Future Outlook and Strategic Initiatives - The company is continuously seeking strategic and financial partners to explore potential opportunities for further expansion and development into other overseas markets[53] - The company is evaluating the potential impact of new and revised standards during the initial application period, with no significant effects anticipated on the consolidated financial statements[36] - The group has not applied any new or revised Hong Kong Financial Reporting Standards that have been issued but are not yet effective as of May 1, 2023, and concluded that their adoption is unlikely to have a significant impact on the consolidated financial statements[36] - The company has no significant investments or capital asset plans for the future[93] - As of April 30, 2024, the company has no significant investments, consistent with the previous year[135] - The company has no foreign currency hedging policy in place due to minimal foreign exchange volatility risk[120]

智通财经APP获悉，鸿盛昌资源(01850)今早开市前停牌，午后复牌一度升近26%，截至发稿，涨12.86%，报0.79港元，成交额1504.67万港元。 消息面上，鸿盛昌资源公布，有关公司拟以配售价每股配售股份0.56港元配售最多2880万股配售股份。于2024年4月18日，公司与配售代理书面协定将配售价修订为每股配售股份0.63港元。因此，假设最多2880万股配售股份悉数获配售，所得款项总额及所得款项净额预计分别约为1814.4万港元及1744.4万港元。 此前该公司宣布拟透过配售代理以每股配售股份0.56港元向承配人配售最多2880万股配售股份，占扩大后股本约16.67%，配售价较2024年4月17日收市价每股0.70港元折让约20%。配售最高净筹约1548.8万港元，拟用作偿还银行及其他借贷、清偿外部债务以及集团的一般营运资金。 ...

Financial Performance - For the six months ended October 31, 2023, the revenue was approximately HKD 226.4 million, an increase of 103.8% compared to HKD 111.1 million in the same period of 2022[7]. - The profit for the same period was approximately HKD 1.8 million, a decrease of 67.3% from HKD 5.5 million in 2022[7]. - Basic and diluted earnings per share for the six months ended October 31, 2023, were HKD 0.0181, down from HKD 0.0978 in 2022[7]. - The company reported a net profit of HKD 2,195,000 for the six months ended October 31, 2023, compared to a profit of HKD 5,457,000 for the same period in 2022, indicating a decrease of approximately 59.8%[12]. - The company reported a total comprehensive income of HKD 1,786,000 for the six months ended October 31, 2023, compared to HKD 5,457,000 for the same period in 2022, showing a decline of approximately 67.3%[12]. - Revenue for the six months ended October 31, 2023, was HKD 226,352,000, a significant increase of 103% compared to HKD 111,136,000 for the same period in 2022[20]. - Revenue from design, supply, and installation services was HKD 219,487,000, up from HKD 100,706,000, representing a growth of 118%[20]. - Revenue from external customers in Hong Kong was HKD 192,197,000, compared to HKD 111,136,000 in 2022, indicating a growth of 73%[24]. Assets and Liabilities - Non-current assets as of October 31, 2023, totaled HKD 28.2 million, compared to HKD 27.0 million as of April 30, 2023[9]. - Current assets increased to HKD 359.5 million as of October 31, 2023, from HKD 231.8 million as of April 30, 2023[9]. - The total liabilities decreased slightly to HKD 111.9 million as of October 31, 2023, from HKD 113.2 million[9]. - The net current assets increased to HKD 247.6 million from HKD 118.6 million[9]. - As of October 31, 2023, the total equity amounted to HKD 273,478,000, an increase from HKD 143,452,000 as of April 30, 2023, representing an increase of approximately 90.5%[10]. - The total assets increased to HKD 274,549,000 as of October 31, 2023, compared to HKD 144,114,000 as of April 30, 2023, reflecting an increase of about 90.5%[10]. Cash Flow and Financing - The net cash used in operating activities for the six months ended October 31, 2023, was HKD (135,057,000), compared to HKD (46,132,000) for the same period in 2022, indicating a significant increase in cash outflow[14]. - The company raised HKD 130,560,000 through a rights issue during the period, contributing to the increase in total equity[14]. - The cash and cash equivalents decreased to HKD 13,968,000 as of October 31, 2023, down from HKD 22,556,000 at the beginning of the period, representing a decrease of approximately 38.2%[14]. - The company’s financing activities generated a net cash inflow of HKD 121,558,000 for the six months ended October 31, 2023, compared to HKD 9,630,000 for the same period in 2022, indicating a significant increase in financing activities[14]. - The net proceeds from the rights issue completed on June 28, 2023, amounted to approximately HKD 128.2 million[63]. - As of October 31, 2023, approximately HKD 115.3 million of the net proceeds had been utilized, leaving about HKD 12.9 million unutilized[63]. - The allocation of the net proceeds includes HKD 109.0 million (85.0%) for fire safety system projects and HKD 19.2 million (15.0%) for general working capital[63]. Expenses - The company reported a decrease in administrative expenses to HKD 11.7 million from HKD 9.9 million[8]. - Administrative expenses increased by approximately HKD 1.8 million or 18.2% to HKD 11.7 million for the six months ended October 31, 2023, mainly due to higher legal and professional fees[49]. - Financial costs rose approximately 567% to HKD 2.0 million for the six months ended October 31, 2023, compared to HKD 0.3 million in the same period of 2022, attributed to increased bank borrowings[52]. - Cost of sales increased by approximately 119.0% to HKD 213.5 million for the six months ended October 31, 2023, compared to HKD 97.5 million for the same period in 2022[46]. - Gross profit decreased by approximately HKD 0.8 million or 5.8% to HKD 12.9 million for the six months ended October 31, 2023, with a gross margin of 5.7% compared to 12.3% in 2022[47]. - Other income for the six months ended October 31, 2023, was approximately HKD 0.5 million, down from HKD 2.2 million in 2022, primarily due to a one-time government grant received in 2022[48]. Dividends and Shareholder Information - The company has resolved not to declare an interim dividend for the six months ended October 31, 2023[7]. - The group did not declare any interim dividends for the six months ended October 31, 2023, consistent with the previous year[29]. - The company did not declare or recommend any dividends as of the reporting date[30]. - As of October 31, 2023, major shareholders include Li Yintao with 20,350,000 shares (14.13%), Xie Wuchao with 13,000,000 shares (9.03%), and Yan Wunu with 12,000,000 shares (8.33%) among others[82]. Employment and Corporate Governance - The total employee cost for the group was approximately HKD 20.9 million for the period, compared to HKD 18.1 million in 2022[73]. - As of October 31, 2023, the group employed 60 staff members, a decrease from 62 in 2022[73]. - The company has established a remuneration committee to review its remuneration policies and the overall compensation structure for directors and senior management[73]. - The company has complied with the corporate governance code as per the listing rules for the six months ending October 31, 2023[90]. - The audit committee, consisting of three independent non-executive directors, has reviewed the unaudited condensed consolidated results for the six months ending October 31, 2023[91]. Strategic Plans - The company aims to explore suitable business opportunities to expand its service capabilities and is committed to undertaking new installation and maintenance projects[38]. - The company plans to seek strategic and financial partners to further expand and develop its business into other overseas markets[38]. Miscellaneous - The group has no major investments as of October 31, 2023[68]. - There were no significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the six-month period ended October 31, 2023[65]. - The group does not have a foreign currency hedging policy due to minimal foreign exchange fluctuation risk[70]. - The company has not engaged in any significant transactions or arrangements involving directors or their associates that would affect their interests in the company's shares as of October 31, 2023[86]. - No stock options have been granted, exercised, canceled, or expired under the stock option plan as of October 31, 2023[88]. - The company has not purchased, sold, or redeemed any of its listed securities during the six months ending October 31, 2023[87]. - There are no reported interests or positions held by directors or major shareholders in any competing businesses[85]. - The mid-term report for the six months ending October 31, 2023, will be published on the company's and the stock exchange's websites[92].

Financial Performance - The company reported a revenue of approximately HKD 277.7 million for the year ended April 30, 2023, an increase of about HKD 46.4 million or 20.1% compared to approximately HKD 231.3 million for the year ended April 30, 2022[16]. - The profit attributable to the company's owners for the year ended April 30, 2023, was approximately HKD 7.1 million, a turnaround from a loss of approximately HKD 7.0 million for the previous year, representing an increase of about HKD 14.1 million[8]. - Total revenue for the year ended April 30, 2023, was approximately HKD 277.7 million, compared to HKD 231.3 million in 2022, representing an increase of about 20.1%[17]. - Gross profit increased by approximately 25.6% from about HKD 24.2 million in 2022 to about HKD 30.4 million in 2023, with a gross margin of 10.9%[22]. - Selling costs rose by approximately 19.4% from about HKD 207.0 million in 2022 to about HKD 247.2 million in 2023[21]. - Administrative expenses decreased by approximately 27.7% from about HKD 27.8 million in 2022 to about HKD 20.1 million in 2023[25]. - Other income increased to approximately HKD 2.7 million in 2023 from about HKD 7,000 in 2022, mainly due to government subsidies[23]. - Financial costs increased by approximately 240.0% from about HKD 0.5 million in 2022 to about HKD 1.7 million in 2023[27]. Revenue Sources - The increase in revenue was primarily driven by the rise in installation service revenue, which reached approximately HKD 48.9 million[16]. - Installation services revenue increased by approximately 23.2% from about HKD 210.4 million in 2022 to about HKD 259.3 million in 2023[18]. - Maintenance services revenue decreased by approximately 12.1% from about HKD 20.7 million in 2022 to about HKD 18.2 million in 2023[19]. - The company expects to maintain stable revenue sources by launching more projects and related works in Hong Kong in the coming year[8]. Business Strategy and Expansion - The company anticipates improved business performance due to the gradual recovery of the economy and the lifting of COVID-19 related restrictions[8]. - The company plans to expand its business in Hong Kong and seek strategic and financial partners for further overseas market development[9]. - The company aims to maintain its market position in the core Hong Kong market while exploring opportunities in the public sector and advanced fire safety systems for private buildings[10]. - The company is optimistic about the prospects of the fire safety services industry and believes it can expand its operations and maximize shareholder returns[11]. - The company will seek to strengthen its investor and shareholder base to support its business and expansion plans[11]. Corporate Governance - The company has appointed three independent non-executive directors, including Mr. Li Jia Jun, Mr. Xian Gong Hua, and Ms. Mai Xue Wen, enhancing governance and oversight[54]. - The board of directors consists of six members, including three executive directors and three independent non-executive directors, ensuring a balanced governance structure[64]. - The company is committed to adhering to corporate governance principles and has complied with all applicable codes as of April 30, 2023[62]. - The company has established a corporate governance function to review and monitor compliance with legal and regulatory policies[70]. - The audit committee consists of three independent non-executive directors, ensuring compliance with corporate governance standards[78]. Employee and Training - As of April 30, 2023, the company employed 61 staff, with total employee costs approximately HKD 35.7 million, a decrease from HKD 44.7 million in 2022[49]. - The company has adopted a share option scheme to attract and retain talent, with no options granted under the scheme as of the report date[49]. - The group places significant emphasis on employee training and development to enhance performance, including safety supervision and portable fire extinguisher training courses[167]. - The company emphasizes continuous education and quality training for employees, although no training sessions were conducted during the year due to COVID-19[141]. Environmental, Social, and Governance (ESG) - The environmental, social, and governance report covers activities from May 1, 2022, to April 30, 2023, focusing on sustainability strategies[113]. - The company is increasing its focus on greenhouse gas emissions and climate change, aiming to improve data collection systems[113]. - The company has achieved ISO 14001:2015 certification for its environmental management system, enhancing environmental awareness and pollution prevention[118]. - The total greenhouse gas emissions from the Hong Kong office increased to 24,937 kg in 2023 from 21,069 kg in 2022, representing a 18.5% increase[122]. - The total energy consumption in the Hong Kong office rose to 39,460 kWh in 2023, up from 33,339 kWh in 2022, marking an increase of 18.4%[127]. Shareholder Information - As of April 30, 2023, major shareholders include Garden Wealth Investment Limited and Ms. Lai Man Ying, each holding 213,660,000 shares, representing 22.26% of the issued share capital[193]. - Great Season Ventures Limited and Mr. Jiang Jianhui hold 123,660,000 shares, accounting for 12.88% of the issued share capital[193]. - The group did not declare any final dividends for the year ended April 30, 2023, nor any interim dividends for the six months ended October 31, 2022[173]. - The company has no arrangements that would allow directors and key executives to hold interests in the company's shares or related securities[192].

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，並明確表示概不就因本公告全 部或任何部分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。 WINDMILL GROUP LIMITED （海鑫集團有限公司） （於開曼群島註冊成立之有限公司） （股份代號：1850） 截 至2023年4月30日 止 年 度 之 全 年 業 績 公 佈 財務摘要 截至2023年4月30日止年度，海鑫集團有限公司（「本公司」）及其附屬公司（以 下統稱為「本集團」）的經營業績如下： • 收 益 達 到 約277.7百 萬 港 元（2022年：約231.3百 萬 港 元），較 去 年 增 加 約 20.1%； • 年度溢利約為7.4百萬港元（2022年：虧損約7.0百萬港元），主要由於年內 毛利增加，其他收入增加及行政開支減少的綜合影響所致； • 根據已發行普通股加權平均數960,000,000股（2022年：803,945,000 股）計算 之年度每股基本及攤薄盈利為0.73港仙（2022年：每股虧損0.87港仙）；及 • 董事不建議就截至2023年4月30日止年度派 ...

Financial Performance - For the six months ended October 31, 2022, the revenue was approximately HKD 111.1 million, an increase of 2.0% compared to HKD 108.9 million in the same period of 2021[7]. - The profit for the same period was approximately HKD 5.5 million, a decrease of 1.8% from HKD 5.6 million in 2021[7]. - Basic and diluted earnings per share for the six months ended October 31, 2022, were HKD 0.57, down from HKD 0.70 in 2021[7]. - The gross profit for the six months ended October 31, 2022, was HKD 13.7 million, down from HKD 16.4 million in the same period of 2021[10]. - The administrative expenses for the period were HKD 9.9 million, compared to HKD 9.3 million in 2021[10]. - The company reported a decrease in cash and cash equivalents of HKD (36,557) thousand for the six months ended October 31, 2022, compared to an increase of HKD 30,733 thousand in the same period of 2021[27]. - The company recorded other income of approximately HKD 2.2 million, primarily from the "Employment Support Scheme" under the Hong Kong government's anti-epidemic fund[71]. - The company reported a profit attributable to the company's owners for the six months ended October 31, 2022, was HKD 5,457,000, compared to HKD 5,580,000 for the same period in 2021, representing a decrease of approximately 2.2%[47]. Assets and Liabilities - The total assets as of October 31, 2022, were HKD 210.7 million, compared to HKD 190.8 million as of April 30, 2022[12]. - The net current assets as of October 31, 2022, were HKD 137.1 million, compared to HKD 133.2 million as of April 30, 2022[15]. - The total equity as of October 31, 2022, was HKD 142.5 million, an increase from HKD 137.1 million as of April 30, 2022[22]. - Trade receivables as of October 31, 2022, were HKD 46,123,000, an increase from HKD 39,834,000 as of April 30, 2022[53]. - The group reported a trade payables balance of HKD 27,803,000 as of October 31, 2022, compared to HKD 13,863,000 as of April 30, 2022, indicating a significant increase[56]. Cash Flow - The net cash used in operating activities for the six months ended October 31, 2022, was HKD (46,132) thousand, compared to HKD 33,554 thousand for the same period in 2021[27]. - The net cash used in investing activities was HKD (55) thousand for the six months ended October 31, 2022, compared to HKD (162) thousand in the same period of 2021[27]. - The net cash generated from financing activities was HKD 9,630 thousand for the six months ended October 31, 2022, compared to a net cash used of HKD (2,659) thousand in the same period of 2021[27]. - The company’s cash and cash equivalents at the end of the period were HKD 22,556 thousand, down from HKD 81,956 thousand at the end of the same period in 2021[27]. Dividends - The company did not declare an interim dividend for the six months ended October 31, 2022[7]. - The company did not declare any interim dividend for the six months ended October 31, 2022, consistent with the previous year[48]. - The company has not declared any dividends for the six months ending October 31, 2022[101]. Strategic Initiatives - The company aims to expand its service capabilities by identifying suitable business opportunities despite challenges posed by the COVID-19 pandemic[59]. - The group continues to focus on securing new installation and maintenance projects to enhance its service offerings[59]. - The company aims to seek strategic and financial partners for further expansion into overseas markets[15]. Shareholder Information - Major shareholders include Garden Wealth Investment Limited and Ms. Li Min Ying, each holding 213,660,000 shares, representing 22.26% of the issued share capital[105]. - Great Season Ventures Limited and Mr. Jiang Jian Hui hold 123,660,000 shares, accounting for 12.88% of the total shares[106]. - Standard Chartered PLC owns 88,080,000 shares, which is 9.18% of the company's issued shares[105]. Corporate Governance - The company has complied with the corporate governance code as per the listing rules during the six months ending October 31, 2022[113]. - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited condensed consolidated results for the six months ending October 31, 2022[115]. - The interim report for the six months ending October 31, 2022, will be published on the Hong Kong Stock Exchange and the company's website[116]. Employee Information - The company employed 62 staff members as of October 31, 2022, with total employee costs of approximately HKD 18.1 million[99]. - The company maintains a stock option plan to attract and retain experienced talent[99]. Acquisitions - The company acquired a 78% stake in Noah's Ark Prefabricated Components Limited, enhancing its competitive advantage in the fire protection industry[15]. - The company acquired a 78% stake in Noah Ark Prefabricated Components Limited for HKD 17.55 million on December 8, 2022, which manufactures prefabricated components for fire protection[89]. - As of October 31, 2022, the company had no significant investments or acquisitions in subsidiaries, associates, or joint ventures during the reporting period[91].

Financial Performance - For the six months ended October 31, 2022, the revenue was approximately HKD 111.1 million, an increase of 2.0% compared to HKD 108.9 million in the same period of 2021[1] - The profit for the same period was approximately HKD 5.5 million, a decrease of 1.8% from HKD 5.6 million in 2021[1] - Basic and diluted earnings per share for the six months ended October 31, 2022, were HKD 0.57, down from HKD 0.70 in 2021[1] - The gross profit margin decreased, with gross profit reported at HKD 13.7 million compared to HKD 16.4 million in the previous year[3] - Revenue for the six months ended October 31, 2022, was HKD 111,136,000, an increase of 2.0% from HKD 108,912,000 for the same period in 2021[19] - Revenue from design, supply, and installation services was HKD 100,706,000, up from HKD 97,052,000, reflecting a growth of 6.8%[19] - Maintenance and repair service revenue decreased to HKD 10,389,000 from HKD 11,754,000, a decline of 11.6%[19] - The company reported a net profit of HKD 5,457,000 for the six months ended October 31, 2022, compared to HKD 5,580,000 for the same period in 2021, a decrease of 2.2%[33] Assets and Liabilities - Trade receivables increased to HKD 25.6 million from HKD 19.5 million as of April 30, 2022[5] - Contract assets rose significantly to HKD 117.8 million from HKD 77.9 million as of April 30, 2022[5] - The total assets increased to HKD 210.7 million from HKD 190.8 million as of April 30, 2022[5] - The total equity increased to HKD 142.5 million from HKD 137.1 million as of April 30, 2022[8] - Trade payables increased to HKD 27,803 thousand as of October 31, 2022, compared to HKD 13,863 thousand as of April 30, 2022[41] Cash Flow and Investments - The net cash used in operating activities was HKD (46.1) million, compared to HKD 33.6 million generated in the same period last year[12] - The company invested approximately HKD 118,000 in property, plant, and equipment during the six months ended October 31, 2022, down from HKD 225,000 in the same period in 2021[36] - The company added right-of-use assets of approximately HKD 4,388,000 due to new office property leases during the reporting period[37] - The net proceeds from the share placement completed on April 22, 2022, amounted to approximately HKD 29.2 million, with HKD 15.5 million utilized by October 31, 2022[71] - The company plans to use the unutilized proceeds of approximately HKD 13.7 million by the end of the fiscal year ending April 30, 2023[73] Dividends and Shareholder Information - The company did not declare an interim dividend for the six months ended October 31, 2022[1] - The company did not declare any interim dividends for the six months ended October 31, 2022, consistent with the previous year[35] - Major shareholders include Garden Wealth Investment Limited with 22.26% ownership (213,660,000 shares) and Great Season Ventures Limited with 12.88% ownership (123,660,000 shares)[90] Operational Focus and Strategy - The company operates a single business segment focused on fire safety system design, supply, and installation[21] - The company continues to seek strategic and financial partners to expand its business and explore opportunities in overseas markets[47] - The company acquired a 78% stake in Noah Ark Precast Limited, a manufacturer of precast components for fire protection devices, which is expected to enhance the company's competitive advantage in the industry[47] - The company entered into an agreement to acquire 78% of Noah Ark Prefabricated Components Limited for HKD 17.55 million, a manufacturer of prefabricated components for fire protection devices[74] Employee and Governance - As of October 31, 2022, the group employed 62 staff members, with total employee costs approximately HKD 18.1 million, a slight decrease from HKD 18.3 million in 2021[84] - The remuneration policy is based on employee performance and is reviewed regularly, with discretionary bonuses awarded based on profitability and individual contributions[84] - The Audit Committee was established on March 27, 2017, to assist the Board in financial reporting, internal controls, and risk management[100] - The board believes that the company has complied with the corporate governance code as per the listing rules during the six months ending October 31, 2022[98] Tax and Subsidies - The effective tax rate for the company was calculated at 8.25% for the first HKD 2 million of profits, and 16.5% for profits exceeding that amount[26] - The company received a cash subsidy of HKD 2,122,000 from the Hong Kong government as part of the anti-epidemic fund[30] Other Financial Metrics - Sales cost increased by approximately 5.4% from HKD 92.5 million for the six months ended October 31, 2021, to HKD 97.5 million for the six months ended October 31, 2022[56] - Gross profit decreased by approximately HKD 2.7 million or 16.5% from HKD 16.4 million to HKD 13.7 million, with a gross margin of approximately 12.3% for the six months ended October 31, 2022, compared to 15.1% in 2021[57] - Other income increased significantly to approximately HKD 2.2 million from HKD 0.1 million, primarily due to funding from the Hong Kong government's "Employment Support Scheme" amounting to HKD 2.1 million[58] - Administrative expenses rose by approximately 6.5% from HKD 9.3 million to HKD 9.9 million, mainly due to increased legal and professional fees[59] - The current ratio decreased from 3.3 to 2.9, while the debt-to-equity ratio increased from 13.3% to 22.9%, attributed to increased bank borrowings[65][66] Compliance and Risk Management - The group does not have a foreign currency hedging policy due to minimal foreign exchange fluctuation risk[81] - The company has not engaged in any significant transactions or arrangements involving directors or their related entities during the six months ending October 31, 2022[95] - There were no stock options granted, exercised, canceled, or expired under the stock option plan during the six months ending October 31, 2022[97] - The company has not purchased, sold, or redeemed any of its listed securities during the six months ending October 31, 2022[96]

Financial Performance - For the fiscal year ending April 30, 2022, the company reported revenue of approximately HKD 231.3 million, an increase of about HKD 33.7 million or 17.0% compared to approximately HKD 197.6 million for the previous year[17]. - The company experienced a loss attributable to owners of approximately HKD 7.0 million for the fiscal year, a decrease of about HKD 11.9 million from a profit of approximately HKD 4.9 million in the previous year[9]. - The increase in revenue was primarily driven by a rise in installation service revenue, which increased to approximately HKD 35.0 million[17]. - Installation services revenue increased by approximately 20.0% from about HKD 175.4 million for the year ended April 30, 2021, to about HKD 210.4 million for the year ended April 30, 2022[20]. - Maintenance services revenue decreased by approximately 6.1% from about HKD 22.1 million to about HKD 20.7 million during the same period[21]. - Total sales cost rose by approximately 21.7% from about HKD 170.1 million to about HKD 207.0 million, primarily due to increased subcontracting, direct labor, and material costs[23]. - Gross profit decreased by approximately 11.8% from about HKD 27.5 million to about HKD 24.2 million, with a gross profit margin dropping to 10.5%[25]. - Administrative expenses increased by approximately 82.5% from about HKD 15.2 million to about HKD 27.8 million, mainly due to higher professional fees and employee costs[29]. - The company reported a net loss attributable to owners of approximately HKD 7.0 million for the year ended April 30, 2022[34]. - The net proceeds from the share placement completed on April 22, 2022, amounted to approximately HKD 29.2 million[44]. - As of April 30, 2022, HKD 11.0 million of the net proceeds had been utilized, leaving HKD 18.2 million unutilized[47]. - The planned allocation of the net proceeds includes HKD 9.0 million (31%) for expanding engineering operations in Hong Kong, HKD 8.0 million (27%) for developing existing fire protection divisions, HKD 3.0 million (10%) for trading electromechanical products and accessories in Hong Kong and mainland China, and HKD 9.2 million (32%) for general working capital[45]. - As of April 30, 2022, the company's distributable reserves amounted to approximately HKD 67.7 million, including accumulated losses of about HKD 18.5 million and share premium of approximately HKD 86.2 million[192]. Business Strategy and Expansion - The company plans to continue expanding its business in the public sector and private buildings, focusing on advanced fire safety systems[10]. - Future strategies include streamlining installation processes and enhancing project planning, management, and execution standards[10]. - The company aims to seek strategic and financial partners to explore potential opportunities for expansion into overseas markets[10]. - The company has been active in the fire safety system installation, maintenance, and inspection sector for over 30 years[8]. - The ongoing COVID-19 pandemic has posed significant challenges, yet the company remains committed to identifying suitable business opportunities[14]. Corporate Governance - The company emphasizes its commitment to good corporate governance practices to enhance transparency and accountability to shareholders[67]. - The board of directors has confirmed compliance with the corporate governance code as of April 30, 2022, ensuring adherence to applicable rules and standards[67]. - The company has adopted the standard code for securities trading by directors, ensuring compliance with trading regulations[68]. - The board consists of six directors, including three executive directors and three independent non-executive directors, responsible for overseeing the company's business and affairs[69]. - The board held eight meetings during the fiscal year ending April 30, 2022, to review past financial and operational performance and discuss overall strategy and policies[71]. - The company has a policy that at least one-third of the directors must retire at the annual general meeting every three years, ensuring board refreshment[73]. - The board is tasked with setting the company's values and standards, ensuring necessary financial and human resources support to achieve corporate goals[75]. - The company has established a corporate governance function to review and monitor compliance with legal and regulatory requirements[76]. - The roles of Chairman and CEO are held separately by Mr. Liu Shih-Hao and Mr. Li Cheng-Kuan, ensuring a balance of power and authority[81]. - The Audit Committee held four meetings during the year ending April 30, 2022, to review financial reporting and risk management processes[85]. - The Compensation Committee conducted two meetings to review and propose compensation packages for directors and senior management[86]. - The company has appointed three independent non-executive directors, exceeding the requirement of one-third representation on the board[82]. - The Audit Committee consists of three independent non-executive directors, ensuring compliance with corporate governance standards[83]. - The company has received annual independence confirmations from all independent non-executive directors, affirming their compliance with independence guidelines[82]. - The company is committed to providing independent opinions on business strategies and performance to protect the interests of all shareholders[82]. - The company has established a succession plan in place to identify suitable candidates for board vacancies as they arise[94]. Environmental, Social, and Governance (ESG) Initiatives - The company has identified key environmental, social, and governance (ESG) issues through stakeholder engagement and management assessments, focusing on sustainability strategies[122]. - The company has committed to improving data collection systems and expanding disclosures related to greenhouse gas emissions and climate change[124]. - The company’s environmental, social, and governance report is prepared in accordance with the guidelines set by the Hong Kong Stock Exchange, ensuring accuracy and reliability of the information presented[125]. - The company has implemented internal controls and formal review procedures to ensure the accuracy and reliability of its ESG report[126]. - The total greenhouse gas emissions from the Hong Kong office increased to 21,069 kg in 2022 from 19,308 kg in 2021, representing a growth of approximately 9.1%[135]. - The total energy consumption in the Hong Kong office rose to 33,339 kWh in 2022, compared to 30,647 kWh in 2021, marking an increase of about 8.8%[141]. - The per employee greenhouse gas emissions increased to 398 kg per employee in 2022 from 358 kg per employee in 2021, reflecting a rise of approximately 11.2%[135]. - The total paper usage decreased to 0.7236 tons in 2022 from 1.2849 tons in 2021, indicating a reduction of about 43.7%[137]. - The per employee paper usage also decreased to 18.2 kg in 2022 from 26.2 kg in 2021, showing a decline of approximately 30.5%[137]. - The company has implemented various waste reduction measures, including promoting a paperless environment and encouraging recycling among employees[138]. - The company’s environmental management system is certified under ISO 14001:2015, enhancing environmental awareness and pollution prevention efforts[130]. - The company aims to establish a paperless office by utilizing electronic platforms and communication channels[131]. - The company regularly monitors paper usage and has provided appropriate facilities to encourage waste sorting and recycling among employees[137]. Employee and Labor Relations - The total employee cost for the group was approximately HKD 44.7 million as of April 30, 2022, an increase from HKD 29.1 million in 2021[54]. - The group employed 56 staff members as of April 30, 2022, compared to 54 in 2021[54]. - The employee turnover rate decreased to 23% in 2022 from 28% in 2021, indicating improved employee retention[148]. - The gender distribution of employees as of April 30, 2022, was 71% male and 29% female, a shift from 76% male and 24% female in 2021[148]. - The age group distribution showed that 18% of employees were under 30 years old, while 68% were between 30 to 50 years old, and 14% were over 50 years old[148]. - The company has implemented a series of COVID-19 preventive measures, including mandatory temperature checks and hand sanitization for all employees entering the workplace[153]. - The company has maintained compliance with health and safety regulations, with no significant non-compliance issues reported for the years ending April 30, 2022, and 2021[152]. - The company has adopted ISO 45001:2018 standards for occupational health and safety, demonstrating a commitment to employee safety since August 27, 2010[151]. - The group maintains good relationships with employees, with no strikes or labor disputes reported during the year ended April 30, 2022[183]. - The group has established a defined contribution retirement benefit plan for eligible employees in Hong Kong, with contributions based on a percentage of employees' basic salaries[183]. - The group emphasizes employee training and development to enhance performance and meet client requirements[181]. Client and Supplier Relations - The group has registered trademarks in Hong Kong to protect its brand and intellectual property[164]. - As of April 30, 2022, approximately 37% of trade receivables from major clients have been settled[174]. - The group maintains a close relationship with major clients, with no significant disputes reported[176]. - Approximately 98% of trade payables to major suppliers have been settled as of the report date[178]. - The group has no major disputes with suppliers and subcontractors as of April 30, 2022[180]. - The top five customers accounted for approximately 67% of total revenue, with the largest customer contributing about 28%[188]. - The top five suppliers and subcontractors accounted for approximately 60% and 53% of total service costs, respectively[188]. - All suppliers of the company are located in Hong Kong, ensuring compliance with local quality standards[158]. - The company has not received any significant complaints regarding service quality or safety issues for the year ending April 30, 2022[159]. - There were no reported incidents of child labor or forced labor within the company during the years ending April 30, 2022, and 2021[157]. Risk Management - The group faces risks related to reliance on non-recurring revenue sources, supplier dependencies, and labor shortages[170]. - The company has established a comprehensive risk management and internal control system to manage risks associated with achieving its strategic objectives[102]. - The board believes that the risk management and internal control systems are effective and sufficient, having conducted an annual review of their effectiveness[104]. - The company has implemented policies and procedures to ensure the confidentiality of information and to manage potential conflicts of interest[104].

Financial Performance - Revenue reached approximately HKD 231.3 million for the year ended April 30, 2022, an increase of about 17.0% compared to HKD 197.6 million in 2021[1] - The annual loss was approximately HKD 7.0 million, compared to a profit of HKD 4.9 million in 2021, primarily due to a decrease in gross profit, reduced other income, and increased administrative expenses[1] - Basic and diluted loss per share was HKD 0.87, compared to earnings of HKD 0.61 per share in 2021[1] - Gross profit for the year was HKD 24.2 million, down from HKD 27.5 million in 2021[3] - Administrative expenses increased to HKD 27.8 million from HKD 15.2 million in 2021[3] - The company reported a loss attributable to owners of HKD 6,992,000 in 2022, compared to a profit of HKD 4,887,000 in 2021[41] - Cost of sales rose by approximately 21.7% to about HKD 207.7 million, attributed to increased subcontracting, direct labor, and material costs[62] - Gross profit decreased by approximately 11.8% to about HKD 24.2 million, with a gross margin of 10.5% due to operational challenges from the COVID-19 pandemic[63] Revenue Breakdown - Revenue from design, supply, and installation services was HKD 210,392,000 in 2022, up from HKD 175,399,000 in 2021, representing a growth of 20%[29] - Revenue from maintenance and repair services was HKD 20,732,000 in 2022, down from HKD 22,071,000 in 2021, reflecting a decline of 6%[29] - The revenue recognized at a point in time was HKD 135,000 in 2022, compared to HKD 128,000 in 2021[28] - The revenue recognized over a period of time was HKD 231,124,000 in 2022, compared to HKD 197,470,000 in 2021, indicating a growth of 17%[28] Assets and Liabilities - Total assets less current liabilities amounted to HKD 137.1 million, up from HKD 114.9 million in 2021[7] - Non-current assets increased to HKD 3.8 million from HKD 6.1 million in 2021, with significant changes in property, plant, and equipment[5] - The total equity increased to HKD 137.1 million from HKD 114.8 million in 2021, reflecting growth in capital and reserves[7] - The company's current ratio improved to 3.3 from 2.6 in the previous year, reflecting reduced bank borrowings and increased cash reserves[75] - As of April 30, 2022, the company's debt-to-equity ratio was 13.3%, down from 28.2% the previous year, due to decreased bank borrowings and completed placements[75] Employee and Operational Costs - Total employee costs increased to HKD 30,173,000 in 2022 from HKD 24,605,000 in 2021, reflecting a growth of approximately 22.5%[39] - As of April 30, 2022, the company employed 56 staff members, with total employee costs amounting to approximately HKD 44.7 million, an increase from HKD 29.1 million in 2021[88] - Administrative expenses increased by approximately 82.5% to about HKD 27.8 million, mainly due to higher professional fees and employee costs[68] Dividends and Shareholder Information - The company did not recommend a final dividend for the year ended April 30, 2022, compared to no dividend in 2021[1] - The company did not declare or recommend any dividends for the years ended April 30, 2021, and April 30, 2022[43] - Major shareholders include Great Season Ventures Limited and Jiang Jianhui, each holding 12.88% of the company’s issued share capital[100] Corporate Governance and Compliance - The company has complied with the corporate governance code as of April 30, 2022[91] - The Audit Committee was established on March 27, 2017, to provide independent opinions on financial reporting processes and internal controls[108] - The financial statements for the year ending April 30, 2022, have been verified by the auditor, but no assurance opinion was issued[109] Future Outlook and Strategic Initiatives - The company aims to explore strategic and financial partnerships to expand its business and enter overseas markets[52] - The company continues to seek opportunities to enhance its service capabilities despite challenges posed by the COVID-19 pandemic[52] - The company is committed to undertaking new installation and maintenance projects in fire safety systems[52]

Financial Performance - Revenue for the six months ended October 31, 2021, was approximately HKD 108.9 million, a decrease of 10.2% compared to HKD 121.3 million in 2020[10] - Profit for the same period was approximately HKD 5.6 million, down 62.4% from HKD 14.9 million in 2020[10] - Basic and diluted earnings per share for the six months ended October 31, 2021, were HKD 0.70, compared to HKD 1.86 in 2020[10] - The company reported a gross profit of HKD 16.4 million for the six months ended October 31, 2021, down from HKD 19.9 million in 2020[12] - The company reported other income of HKD 139, significantly lower than HKD 3.8 million in the same period last year[12] - The company reported a profit of HKD 5,580,000 for the six months ended October 31, 2021, a decrease of 62.5% compared to HKD 14,885,000 for the same period in 2020[48] - Gross profit decreased by approximately HKD 3.5 million or 17.6% to HKD 16.4 million, with a gross margin of 15.1% compared to 16.4% in 2020[75] - Profit attributable to owners decreased from HKD 14.9 million in 2020 to HKD 5.6 million in 2021[83] Revenue Breakdown - Total revenue for the six months ended October 31, 2021, was HKD 108,912,000, a decrease of 10.1% from HKD 121,302,000 in the same period of 2020[38] - Revenue from design, supply, and installation services was HKD 97,052,000, slightly down from HKD 97,855,000 year-on-year[38] - Revenue from maintenance and repair services decreased to HKD 11,754,000 from HKD 23,376,000, indicating a decline of 49.8%[38] - Installation services revenue decreased by approximately 0.8% from HKD 97.9 million in 2020 to HKD 97.1 million in 2021[70] - Maintenance services revenue dropped by approximately 49.6% from HKD 23.4 million in 2020 to HKD 11.8 million in 2021[71] - Major customer A contributed HKD 49,828,000 to total revenue, significantly up from HKD 23,756,000 in the previous year[42] Assets and Liabilities - Total assets as of October 31, 2021, were HKD 180.6 million, compared to HKD 174.7 million as of April 30, 2021[14] - Current assets increased to HKD 180.6 million from HKD 174.7 million, while current liabilities decreased to HKD 63.2 million from HKD 65.9 million[14] - The net asset value as of October 31, 2021, was HKD 120.4 million, an increase from HKD 114.8 million as of April 30, 2021[18] - Trade receivables as of October 31, 2021, were HKD 30,618,000, a decrease from HKD 53,966,000 as of April 30, 2021[53] Cash Flow - The net cash generated from operating activities for the six months ended October 31, 2021, was HKD 33,554,000, compared to HKD 15,427,000 for the same period in 2020, representing a significant increase[30] - The company reported a net increase in cash and cash equivalents of HKD 30,733,000, compared to a decrease of HKD 650,000 in the previous year[30] - The company’s cash and cash equivalents at the end of the period stood at HKD 81,956,000, up from HKD 44,230,000 in the prior year[30] Expenses - Administrative expenses increased to HKD 9.3 million from HKD 6.2 million in the previous year[12] - Financial costs decreased by approximately 56.6% from HKD 829,000 in 2020 to HKD 360,000 in 2021 due to reduced bank borrowings[81] - The income tax expense for the six months ended October 31, 2021, was HKD 1,272,000, down from HKD 2,787,000 in the same period of 2020[44] - The company incurred interest expenses on lease liabilities of HKD 7,000 for the period, down from HKD 26,000 in the previous year[46] Dividends and Shareholder Information - The company did not declare an interim dividend for the six months ended October 31, 2021[10] - The company has not declared any interim dividends for the six months ended October 31, 2021, consistent with the previous year[49] - Major shareholders include Great Season Ventures Limited and Jiang Jianhui, each holding 240 million shares, representing 30.00% of the issued share capital[106] - Ren Guisheng is a major shareholder with 252 million shares, accounting for 31.50% of the issued share capital[106] Corporate Governance - The company has adopted a remuneration policy that links compensation for executive directors to the achievement of company goals[101] - The company has established a remuneration committee to review the remuneration policy and structure for directors and senior management[101] - The company has complied with the corporate governance code, except for the separation of the roles of chairman and CEO until November 30, 2021[114][116] - No significant transactions or arrangements involving directors or their related entities were reported during the six months ending October 31, 2021[111] Strategic Initiatives - The company aims to expand its service capabilities and explore strategic partnerships for further business development and market expansion[64] - The company continues to seek opportunities to enhance its investor and shareholder base to support its business and expansion plans[64] Audit and Reporting - The Audit Committee was established on March 27, 2017, to assist the Board in financial reporting, internal controls, and risk management[117] - The Audit Committee consists of three independent non-executive directors, with Mr. Yu Wei Qin serving as the chairman[117] - The interim report for the six months ending October 31, 2021, will be published on the Hong Kong Stock Exchange and the company's website, containing all required information[118]