Revenue Performance - Revenue from the sale of steel and metal products decreased by approximately HKD 16.2 million or about 77.1% to approximately HKD 4.8 million during the reporting period[9] - Overall revenue for the group decreased from approximately HKD 85.0 million to approximately HKD 78.8 million, a decline of about HKD 6.2 million or approximately 7.3% compared to the same period in 2023[11] - Revenue for the six months ended September 30, 2024, was approximately HKD 78,794,000, a decrease of about 7.4% from HKD 85,041,000 in the same period of 2023[51] - Revenue from steel and metal engineering services was HKD 74,016,000, up 15.6% from HKD 64,046,000 in the previous year[51] - Revenue from the sale of steel and metal products dropped significantly to HKD 4,778,000, down 77.2% from HKD 20,995,000 in the same period last year[51] - The group's revenue for the reporting period was approximately HKD 78.8 million, a decrease of about 7.3% compared to HKD 85.0 million in the same period last year[72] Profitability and Loss - The group reported a loss of approximately HKD 10.6 million for the reporting period, compared to a profit of approximately HKD 6.6 million in the same period last year[13] - The gross profit decreased from approximately HKD 11.8 million to about HKD 0.4 million, a decline of approximately 96.6%[64] - The gross profit margin fell from approximately 13.9% to about 0.5% due to rising material and labor costs, along with ongoing price competition[64] - The company incurred a loss before tax of HKD 10.368 million, compared to a profit of HKD 7.530 million in the previous year, reflecting a negative shift in financial performance[113] - The net loss attributable to shareholders for the period was HKD 10.661 million, compared to a profit of HKD 6.626 million in the same period last year[113] Financial Position - The group's debt-to-equity ratio was approximately 0.15% as of March 31, 2024, down from 0.25%[14] - Total cash and cash equivalents as of September 30, 2024, were HKD 43.5 million, down from HKD 63.6 million as of March 31, 2024[78] - The group's capital structure included equity of approximately HKD 159.4 million as of September 30, 2024, compared to HKD 160.0 million as of March 31, 2024[79] - The company’s total assets were reported at HKD 159,554,000 as of September 30, 2024, compared to HKD 159,969,000 as of March 31, 2024[120] - The company’s cash and cash equivalents decreased to HKD 43,482 million from HKD 63,556 million, indicating a reduction in liquidity[116] Trade Receivables and Impairments - Trade receivables and contract assets impairment loss was HKD 1,915,000, significantly higher than HKD 42,000 in the previous year[59] - As of September 30, 2024, trade receivables aged 0 to 30 days amounted to HKD 13,937,000, an increase from HKD 13,356,000 as of March 31, 2024, reflecting a growth of 4.3%[152] - Trade receivables aged over 90 days decreased significantly to HKD 3,489,000 from HKD 6,153,000, indicating a reduction of 43.2%[152] - Total trade receivables as of September 30, 2024, were HKD 19,524,000, slightly down from HKD 20,099,000 as of March 31, 2024, representing a decline of 2.8%[152] Employee and Operational Information - The group employed a total of 335 full-time employees as of September 30, 2024, with 180 located in Hong Kong and the remainder in China[17] - The group did not incur any significant impact on operations or liquidity due to currency fluctuations during the reporting period[14] - The group will continue to monitor foreign exchange risks and consider hedging significant foreign exchange risks as necessary[14] Capital Expenditures and Investments - The group invested approximately HKD 3.5 million in capital expenditures for property, plant, and equipment during the reporting period[84] - The group plans to allocate approximately HKD 51.2 million for machinery replacement and capacity enhancement, with an estimated timeline for completion by March 31, 2025[93] - The company completed a placement agreement to issue up to 153,520,000 shares at a price of HKD 0.054 per share, raising approximately HKD 7.8 million for future use[96] Dividends and Share Issuance - The board does not recommend the declaration of an interim dividend for the reporting period[88] - The company did not declare an interim dividend for the reporting period, consistent with the previous period where no dividend was declared[131] - The company issued new shares, raising HKD 8,290,000 during the period, with share issuance costs amounting to HKD (249,000)[125] Future Outlook and Strategy - The company is focused on maintaining a healthy balance sheet while exploring opportunities for market expansion and new product development[154] - The company aims to enhance operational efficiency through strategic initiatives and potential mergers and acquisitions in the future[154] - The company plans to appoint a suitable female candidate to the board within three months to comply with listing rules regarding board diversity[101]

Financial Performance - Revenue for the six months ended September 30, 2024, was HKD 78,794 thousand, compared to HKD 85,041 thousand for the same period in 2023, representing a decrease of approximately 7.4%[4] - Gross profit for the period was HKD 418 thousand, significantly lower than HKD 11,804 thousand in the previous year, indicating a decline of approximately 96.5%[4] - The company reported a loss attributable to owners of the company of HKD 10,661 thousand for the current period, compared to a profit of HKD 6,626 thousand in the prior period, reflecting a negative swing of approximately 261.0%[4] - Other income and gains decreased to HKD 55 thousand from HKD 6,360 thousand, a decline of approximately 99.1%[4] - For the six months ended September 30, 2024, the company reported a pre-tax loss of HKD 1,915,000, compared to a profit of HKD 42,000 for the same period in 2023[38] - The cost of goods sold recognized as expenses was HKD 49,559,000 for the six months ended September 30, 2024, compared to HKD 17,618,000 for the same period in 2023[38] - Basic and diluted earnings per share were based on a loss attributable to shareholders of HKD 10,661,000 for the period ended September 30, 2024, compared to a profit of HKD 6,626,000 for the same period in 2023[43] - The group reported a loss of approximately HKD 10.6 million for the reporting period, compared to a profit of approximately HKD 6.6 million in the same period last year[60] Assets and Liabilities - Total assets as of September 30, 2024, were HKD 152,279 thousand, down from HKD 159,668 thousand as of March 31, 2024, a decrease of approximately 4.7%[6] - Cash and cash equivalents decreased to HKD 43,482 thousand from HKD 63,556 thousand, representing a decline of approximately 31.6%[6] - The company's total liabilities decreased to HKD 23,138 thousand from HKD 27,903 thousand, a reduction of approximately 17.3%[6] - As of September 30, 2024, the group's equity was approximately HKD 159.4 million, with no bank borrowings reported[61] - The asset-to-equity ratio was approximately 0.15% as of September 30, 2024, compared to 0.25% as of March 31, 2024[61] Revenue Breakdown - Revenue from steel and metal engineering services for the six months ended September 30, 2024, was HKD 74,016,000, an increase from HKD 64,046,000 in the same period of 2023, representing a growth of approximately 14.4%[17] - Revenue from the sale of steel and metal products for the six months ended September 30, 2024, was HKD 4,778,000, a decrease from HKD 20,995,000 in the same period of 2023, representing a decline of approximately 77.2%[17] - The group's revenue for the reporting period was approximately HKD 78.8 million, a decrease of about 7.3% from HKD 85.0 million in the same period last year[54] - Revenue from steel and metal engineering services increased by approximately HKD 10.0 million or 15.6% to about HKD 74.0 million, while revenue from steel and metal product sales decreased by approximately HKD 16.2 million or 77.1% to about HKD 4.8 million[55] Cash Flow and Investments - The group invested approximately HKD 3.5 million in capital expenditures for properties, plants, and equipment during the reporting period[65] - The company has earmarked HKD 12.5 million for general working capital purposes, with an estimated remaining balance of HKD 15.2 million[74] - The net proceeds from the placement of shares, amounting to approximately HKD 7.8 million, have been fully utilized as of September 30, 2024[78] Corporate Governance and Compliance - The company has adhered to all applicable corporate governance rules during the reporting period, except for certain deviations noted[81] - The audit committee, composed entirely of independent non-executive directors, has reviewed and approved the unaudited condensed consolidated financial statements for the reporting period[102] - The company has not applied any new accounting standards or interpretations that have not yet come into effect during the reporting period, ensuring consistency in financial reporting[15] Employee and Operational Information - As of September 30, 2024, the group employed a total of 335 full-time employees, with 180 located in Hong Kong and the remainder in China[71] - The group’s main customers are construction companies, contractors, and engineering firms in Hong Kong, with contracts primarily being fixed-price contracts[17] Future Plans and Outlook - The company plans to allocate approximately HKD 51.2 million for machinery replacement and capacity enhancement, with an estimated completion by March 31, 2025[74] - The revised allocation for expanding the workforce in Hong Kong and China is set at HKD 33.7 million, with no changes to the previous allocation[74] - There were no significant future investment or capital asset plans disclosed by the group[64] Dividends and Shareholder Information - No interim dividend was declared for the six months ended September 30, 2024, consistent with the previous period[44] - The board does not recommend declaring an interim dividend for the reporting period[70]

Company Operations and Strategy - The company resumed trading on August 4, 2023, after fulfilling all resumption guidelines following the sale of its chaotic operations in China[7]. - The company anticipates that favorable government policies and a rebound in manufacturing activity will alleviate current economic pressures and provide significant business opportunities[7]. - The company aims to improve the working environment and enhance manufacturing capabilities while exploring new construction technologies to seek new profit growth points[7]. - The company is leveraging government policies to expand order volumes due to the Hong Kong government's commitment to increasing public housing supply[7]. - The management team is focused on strategic leadership and professional expertise to drive improvements and maximize shareholder returns[7]. - The company has undergone business reforms to address previous operational challenges and streamline its focus[7]. - The company expresses gratitude to employees, shareholders, customers, suppliers, and business partners for their support over the past year[7]. - The company is committed to seeking new avenues for profitability and growth in the construction sector[7]. - The company has faced significant economic and operational pressures but remains optimistic about future opportunities[7]. Financial Performance - The group's revenue decreased by 15.0% to approximately HKD 157.2 million in the fiscal year 2024, down from HKD 184.9 million in fiscal year 2023[18]. - The net loss attributable to equity shareholders was HKD 4.1 million in fiscal year 2024, compared to a profit of HKD 1.8 million in fiscal year 2023[26]. - Credit loss provisions increased from HKD 2.2 million in fiscal year 2023 to HKD 6.9 million in fiscal year 2024, reflecting market instability[18]. - The gross profit decreased by 19.5% to approximately HKD 18.0 million in fiscal year 2024, with a gross profit margin of 11.5%[21]. - Administrative expenses increased by approximately 6.0% to HKD 23.0 million in fiscal year 2024, primarily due to rising legal and professional fees[24]. - The group recorded other income and losses of approximately HKD 0.6 million in fiscal year 2024, down from HKD 2.4 million in fiscal year 2023[23]. Contracts and Market Demand - The total value of new steel and metal engineering contracts obtained in fiscal year 2024 was HKD 215.0 million[11]. - As of March 31, 2024, the total value of contracts on hand (unfulfilled or partially fulfilled) was HKD 321.7 million[11]. - The group anticipates increased demand for steel and metal products due to government policies favoring the construction industry[14]. - The Hong Kong government plans to build 330,000 public housing units over the next ten years, which is double the number built in the previous decade[13]. Cash Flow and Financial Position - As of March 31, 2024, the total cash and cash equivalents of the group amounted to approximately HKD 63.6 million, a decrease of about 15.8 million from HKD 79.4 million as of March 31, 2023[30]. - The group's net cash outflow from operating activities for the fiscal year 2024 was approximately HKD 1.0 million, while cash outflow from investing activities was about HKD 11.8 million, primarily due to the purchase of properties, plants, and equipment[30]. - The group had no bank borrowings as of March 31, 2024, compared to HKD 3.7 million as of March 31, 2023, following the full repayment of bank loans[31]. - The group's debt-to-equity ratio decreased to approximately 0.25% as of March 31, 2024, down from 2.6% in the previous year, mainly due to the repayment of bank borrowings[30]. - Capital expenditure for the acquisition of properties, plants, and equipment was approximately HKD 12.6 million for the fiscal year 2024, with about HKD 8.5 million funded through net proceeds from the company's shares listed on the stock exchange[38]. Shareholder and Corporate Governance - The board does not recommend the payment of a final dividend for the fiscal year ending March 31, 2024[54]. - The group had no significant acquisitions or disposals of subsidiaries or joint ventures during the fiscal year ending March 31, 2024[40]. - The group has not engaged in any derivative contracts to hedge currency risks and will continue to monitor foreign currency risks[35]. - The group has no major investments that account for 5% or more of total assets as of March 31, 2024[41]. - The company has fully utilized HKD 33.7 million for expanding its workforce in Hong Kong and China, and HKD 5 million for purchasing trucks[58]. - The company continues to apply the net proceeds according to the disclosure in the prospectus regarding future plans and use of proceeds[60]. - The board of directors has confirmed the independence of all independent non-executive directors according to the listing rules[74]. - The board consists of two executive directors and three independent non-executive directors as of March 31, 2024, complying with the listing rules regarding board composition[129]. - The company has established a board independence assessment mechanism to enhance the board's effectiveness and identify areas for improvement[132]. Employee and Workplace Initiatives - The total salary and related costs provided to employees amounted to approximately HKD 66.0 million for the year ending March 31, 2024[84]. - The group employed a total of 302 employees as of March 31, 2024[84]. - The company has established an annual review system to assess employee performance, which influences decisions on salary increases, bonuses, and promotions[84]. - The company encourages a healthy work-life balance by enforcing an internal rule of not exceeding 20 hours of overtime work per month[199]. - The Hong Kong office launched a Happy Workplace Promotion Plan to enhance employee satisfaction and joy at work, receiving recognition as a Happy Enterprise from the Hong Kong Happiness Index Fund[199]. Environmental and Social Responsibility - The company is committed to sustainable development and provides business solutions to address social and environmental challenges, including transitioning to a net-zero economy[173]. - The environmental management system at the main production facility in Huizhou, Guangdong, complies with ISO 14001:2015 standards[182]. - The company has recorded data on four environmental impact areas: air emissions management, noise levels, wastewater discharge, and solid waste[182]. - Total greenhouse gas emissions decreased by 0.65% compared to the previous year, amounting to 804.79 metric tons CO2 equivalent[184]. - The company planted 150 trees to minimize environmental impact during the fiscal year ending March 31, 2024[184]. - The company has implemented ventilation and filtration systems to reduce pollutant accumulation in production facilities[185]. Risk Management and Compliance - The board confirmed that the existing risk management and internal control systems are adequate and effective as of March 31, 2024[160]. - The company has adopted a whistleblowing policy to encourage reporting of suspicious misconduct, ensuring protection for whistleblowers[163]. - There were no related party transactions that required disclosure under the Listing Rules for the year ending March 31, 2024[89].

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 對 因 本 公 告 全 部 或 任 何 部 分 內 容 而 產 生 或 因 依 賴 該 等 內 容 而 引 致 的 任 何 損 失 承 擔 任 何 責 任。 HANG YICK HOLDINGS COMPANY LIMITED 恒益控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1894） 截 至 二 零 二 四 年 三 月 三 十 一 日 止 年 度 的 年 度 業 績 公 告 恒 益 控 股 有 限 公 司（「本 公 司」）董 事（「董 事」）會（「董 事 會」）宣 佈 本 公 司 及 其 附 屬 公 司（統 稱「本 集 團」）截 至 二 零 二 四 年 三 月 三 十 一 日 止 年 度（「二 零 二 四 年 財 政 年 度」）的 經 審 核 綜 合 財 務 業 績，連 同 截 至 二 零 二 三 年 三 月 三 十 一 日 止 年 度（「二 零 二 三 年 ...

Financial Performance - Revenue from continuing operations decreased to approximately HKD 85.0 million, a decline of about HKD 26.4 million or 23.7% compared to HKD 111.4 million in the same period last year[20][26]. - Gross profit from continuing operations fell to approximately HKD 11.8 million, down about HKD 4.6 million or 28.2%, with a gross margin decrease from 14.8% to 13.9%[22]. - The company's profit attributable to owners decreased to approximately HKD 6.6 million, down from HKD 6.9 million in the same period last year, a reduction of about HKD 0.3 million[52]. - For the six months ended September 30, 2023, the company reported revenue of HKD 85,041 thousand, a decrease of 23.7% from HKD 111,401 thousand in the same period of 2022[97]. - Gross profit for the same period was HKD 11,804 thousand, down 28.1% from HKD 16,449 thousand year-over-year[97]. - The company achieved a profit before tax of HKD 7,530 thousand, a decline of 6.6% compared to HKD 8,060 thousand in the previous year[97]. - Net profit attributable to the company's owners for the period was HKD 6,626 thousand, slightly down from HKD 6,872 thousand in the prior year, representing a decrease of 3.6%[98]. - Total comprehensive income for the period was HKD 5,183 thousand, an increase of 72.5% from HKD 3,006 thousand in the same period last year[98]. Costs and Expenses - Direct costs for continuing operations were approximately HKD 73.2 million, a reduction of about HKD 21.7 million or 22.9% compared to HKD 95.0 million in the previous year[29]. - Administrative expenses decreased to approximately HKD 10.6 million, down about HKD 0.9 million or 8.2% from HKD 11.5 million in the previous year[30]. - The company incurred bank borrowing interest expenses of HKD 25,000, up from HKD 23,000 in the previous period, reflecting an increase of 8.7%[120]. - The cost of goods sold recognized as expenses was HKD 17,618,000 for the six months ended September 30, 2023, up from HKD 13,727,000 in 2022, representing a growth of about 28.3%[134]. - The depreciation of property, plant, and equipment increased to HKD 2,001,000 in 2023 from HKD 1,712,000 in 2022, indicating a rise of approximately 16.85%[134]. Assets and Liabilities - The company's equity as of September 30, 2023, was approximately HKD 175.3 million, compared to HKD 170.0 million as of March 31, 2023[31]. - As of September 30, 2023, the company's total bank balance and cash amounted to approximately HKD 68.1 million, down from HKD 79.4 million as of March 31, 2023[54]. - Current assets totaled HKD 168,382,000, slightly up from HKD 167,330,000, indicating a marginal growth of 0.63%[76]. - Total liabilities decreased from HKD 19,110,000 to HKD 18,842,000, showing a reduction of 1.4%[76]. - The company's debt-to-equity ratio was approximately 0% as of September 30, 2023, compared to about 2.2% on March 31, 2023[53]. - Trade payables as of September 30, 2023, amounted to HKD 3,155,000, compared to HKD 2,821,000 as of March 31, 2023, reflecting an increase of approximately 11.85%[141]. Cash Flow - The company generated a net cash outflow from operating activities of HKD (999,000) for the six months ended September 30, 2023, compared to a net inflow of HKD 7,492,000 in the same period of 2022[124]. - The company reported a net cash outflow from investing activities of HKD (6,812,000) for the six months ended September 30, 2023, compared to HKD (273,000) in the same period of 2022[124]. - The company's financing activities resulted in a net cash outflow of HKD (3,914,000) for the six months ended September 30, 2023, compared to HKD (133,000) in the same period of 2022[124]. Corporate Governance - The company maintained a high standard of corporate governance, confirming compliance with all applicable codes as of September 30, 2023[69]. - The board of directors confirmed adherence to the trading standards set forth in the company's code of conduct during the reporting period[68]. - The company did not engage in any purchase, sale, or redemption of its listed securities during the reporting period[69]. - The company has maintained its public float as per listing rules, ensuring compliance with regulatory requirements[96]. Future Outlook - The outlook remains optimistic for the construction business due to increased land supply and government commitments to improve public housing supply, despite challenges from global economic instability and rising labor costs[19]. - The company does not recommend declaring an interim dividend for the reporting period, consistent with the previous year[14][37]. Other Information - The company raised approximately HKD 161.5 million through a global offering, with a net amount of about HKD 130.0 million after deducting listing expenses[41]. - The company has fully utilized the funds for upgrading its information technology systems and equipment, totaling HKD 3.5 million[42]. - The company has not yet utilized the funds for expanding its labor force in Hong Kong and China due to delays caused by the COVID-19 pandemic[44]. - The company continues to monitor foreign exchange risks and will consider hedging significant foreign exchange risks as needed[55]. - The company has lost control over HY China Investment Company Limited and its subsidiaries, which ceased operations on February 24, 2023, and their financial results are no longer consolidated[144].

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，概不對 因本公告全部或任何部分內容而產生或因依賴該等內容而引致的任何損 失承擔任何責任。 HANG YICK HOLDINGS COMPANY LIMITED 恒 益 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：1894） 截 至 二 零 二 三 年 九 月 三 十 日 止 六 個 月 的 中 期 業 績 公 告 恒益控股有限公司（「本公司」）董事（「董事」）會（「董事會」）謹此宣佈本公司 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（「報 告期」）的未經審核中期業績，連同截至二零二二年九月三十日止六個月 的比較數字。 ...

提名委員會已考慮及審閱董事會的組成及多元性。全體執行董事及非執行董事均於管理及工業領域具備豐富及多元化 的經驗。三名獨立非執行董事具備管理、金融、會計及法律方面的專業知識。經檢討董事會組成後，董事會深明董事 會層面性別多元化的重要性及裨益，並將繼續採取措施物色女性候選人，以提升董事會成員的性別多元化。 34 提名委員會將根據以下程序及流程就甄選、委任及重新委任董事向董事會提出建議： iv. 董事會可安排所選候選人接受並非提名委員會成員的董事會成員面試，而董事會其後將商議及決定委任事宜（視 情況而定）；及 ii. 提名委員會將檢討及釐定退任董事是否仍然符合上述準則； 35 董事會及董事委員會會議 何志遠先生及梁福順先生於二零二三年一月十八日獲委任。 企業管治報告 | --- | --- | |------------|--------------------------| | 所提供服務 | 已付╱應付薪酬 （千港元） | | | | | 審核服務 | 1,711 | | 非審核服務 | 42 | | | | | | 1,753 | 董事知悉彼等的責任為根據香港財務報告準則編製本集團截至二零二三年三月三十一日止 ...

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，概不對因本公告全部或任何部分內容 而產生或因依賴該等內容而引致的任何損失承擔任何責任。 HANG YICK HOLDINGS COMPANY LIMITED 恒 益 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：1894） 截至二零二三年三月三十一日止年度的 年度業績公告 恒益控股有限公司（「本公司」）董事（「董事」）會（「董事會」）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年度（「二零二三年財政年度」）的經審核綜 合財務業績，連同截至二零二二年三月三十一日止年度（「二零二二年財政年度」）的比較 數字如下。 ...

Financial Performance - Revenue for the six months ended September 30, 2022, was HKD 111,401,000, representing a 1.6% increase from HKD 109,666,000 in the same period last year[2]. - Gross profit decreased by 40.0% to HKD 16,449,000, down from HKD 27,424,000, resulting in a gross margin of 14.8% compared to 25.0%[2]. - Profit attributable to owners of the company was HKD 6,399,000, a decline of 46.9% from HKD 12,046,000 in the previous year[2]. - Basic and diluted earnings per share decreased to 0.8 cents from 1.6 cents, a reduction of 0.8 cents[2]. - Total comprehensive loss for the period was HKD 2,366,000, compared to a total comprehensive income of HKD 12,929,000 in the previous year[6]. - The company reported a profit before tax of HKD 7,272,000 for the six months ended September 30, 2022, compared to HKD 14,209,000 for the same period in 2021, representing a decrease of 48.8%[22]. - Net profit attributable to shareholders decreased from approximately HKD 12.0 million to about HKD 6.4 million, a reduction of approximately 46.7%[43]. Revenue Breakdown - Revenue from steel and metal engineering services was HKD 96,495,000, down 3.9% from HKD 99,914,000 in the previous year[22]. - Sales of steel and metal products increased significantly to HKD 14,906,000, up 53.5% from HKD 9,752,000 in the prior year[22]. - Total revenue for the reporting period was approximately HKD 111.4 million, an increase of about 1.6% from HKD 109.7 million in the same period last year[43]. Expenses and Costs - Administrative expenses for the period were HKD 12,329,000, slightly lower than HKD 13,801,000 in the previous year[22]. - Direct costs increased by approximately 15.5% to about HKD 95.0 million, up from approximately HKD 82.2 million in the previous year[48]. - Other income and gains amounted to HKD 3,175,000, compared to HKD 859,000 in the prior year, indicating a significant increase[22]. - Other income increased from approximately HKD 0.9 million to about HKD 3.2 million, primarily due to government subsidies received[51]. - Administrative expenses decreased by approximately 10.8% to about HKD 12.3 million, down from approximately HKD 13.8 million[52]. Assets and Liabilities - Non-current assets decreased to HKD 35,264,000 from HKD 44,702,000, primarily due to a reduction in property, plant, and equipment[8]. - Current assets totaled HKD 174,012,000, slightly down from HKD 174,484,000, with inventory decreasing to HKD 23,917,000 from HKD 35,123,000[8]. - Trade receivables increased to HKD 30,438,000 from HKD 24,529,000, indicating improved collection efforts[8]. - Cash and cash equivalents increased to HKD 59,726,000 from HKD 54,989,000, reflecting better liquidity management[8]. - Total liabilities decreased to HKD 20,206,000 from HKD 27,289,000, indicating a reduction in financial obligations[10]. - Trade receivables aged 0 to 30 days increased to HKD 17,442,000 from HKD 8,206,000, indicating improved cash flow management[39]. - The debt-to-equity ratio as of September 30, 2022, was approximately 1.8%, unchanged from March 31, 2022[55]. Corporate Governance and Compliance - The company has appointed forensic accountants to investigate alleged misconduct by certain directors and is implementing corrective actions based on their recommendations[88]. - The company has engaged an independent firm to assist in reviewing internal controls and is enhancing its internal control procedures as per their suggestions[88]. - The company is in the process of publishing all outstanding financial results as required by listing rules, following the completion of audits for the fiscal years ending March 31, 2021, and March 31, 2022[88]. - The company has confirmed compliance with listing rule 13.24 by demonstrating normal business operations in all material aspects[88]. - The company has taken steps to ensure that involved directors no longer hold any positions on the board or in senior management[88]. - The company has suspended trading of its shares since April 22, 2021, and will continue to do so until further notice[94]. - The audit committee, composed entirely of independent non-executive directors, has reviewed and approved the unaudited consolidated financial statements for the reporting period[92]. - The company is committed to providing updates to shareholders and potential investors regarding progress towards meeting the conditions of the resumption guidance[88]. - The company has maintained the required public float as per listing rules as of the announcement date[90]. - The company will publish its interim report on its website after completing the audit process for the relevant financial results[93]. Future Plans and Investments - The company plans to focus on the construction business in Hong Kong, benefiting from government policies aimed at increasing public housing supply by approximately 50% over the next five years[44]. - The group invested approximately HKD 1.3 million in the purchase of properties, plants, and equipment during the reporting period[62]. - As of September 30, 2022, the total amount of contracted but not provided for expenditures related to the acquisition of certain plants and equipment was approximately HKD 0.3 million[64]. - The net proceeds from the global offering amounted to approximately HKD 130.0 million after deducting listing expenses[70]. - As of September 30, 2022, the group had utilized HKD 57.059 million of the net proceeds, with HKD 66.966 million remaining[73]. Risk Management - The group plans to continue monitoring foreign exchange risks and will consider hedging significant foreign exchange risks if necessary[60]. - The group has no significant contingent liabilities as of September 30, 2022[67]. - The group has not been involved in any claims or litigation that would have a significant adverse effect on its business, operating results, or financial condition as of September 30, 2022[66].

Financial Performance - The company's revenue for the six months ended September 30, 2020, was approximately HKD 125.8 million, an increase of about 30.7% from approximately HKD 96.3 million in the corresponding period of 2019[11]. - The gross profit decreased to approximately HKD 10.5 million, down about 59.3% from approximately HKD 25.9 million in the same period last year, resulting in a gross margin drop from 26.9% to 8.4%[18]. - Direct costs increased to approximately HKD 115.3 million, a rise of about 63.8% from approximately HKD 70.4 million in the previous year[14]. - The company's profit attributable to owners decreased to HKD 0.9 million, down from HKD 9.9 million in the same period of 2019, a decline of HKD 9.0 million[23]. - Profit before tax for the period was HKD 1,347,000, a decline of 87.8% from HKD 11,079,000 in the previous year[80]. - Net profit for the period was HKD 878,000, a decrease of 90.2% compared to HKD 8,994,000 in the same period last year[80]. - Total comprehensive income for the period was HKD 3,277,000, down 45.9% from HKD 6,054,000 in the prior year[83]. - The company reported a profit of HKD 988,000 for the period, a decrease from HKD 9,937,000 in the same period last year, representing a decline of approximately 90%[98]. Revenue Breakdown - The revenue from steel and metal engineering services increased to approximately HKD 95.8 million, up about 15.4% from approximately HKD 83.0 million in the previous year[12]. - The revenue from construction services was approximately HKD 20.6 million, with no corresponding revenue in the previous year[13]. - Revenue from steel and metal engineering services was HKD 95,830,000, up from HKD 83,028,000, representing a growth of 15.5%[118]. - Revenue from construction services was HKD 20,622,000, with no revenue reported in the previous year[118]. - Sales of steel and metal products decreased to HKD 9,357,000 from HKD 13,236,000, a decline of 29.1%[118]. Expenses and Costs - Administrative expenses rose to approximately HKD 16.4 million, an increase of about 12.6% from approximately HKD 14.5 million in the previous year[21]. - Financing costs slightly decreased to HKD 892,000 from HKD 894,000 year-on-year[122]. - The company incurred a net cash outflow from investing activities of HKD 13,211,000, compared to a net inflow of HKD 41,230,000 in the previous year, highlighting a shift in investment strategy[99]. Assets and Liabilities - As of September 30, 2020, the group's debt-to-equity ratio was 21.5%, down from 25.9% as of March 31, 2020[24]. - The group's total bank borrowings were approximately HKD 54.3 million as of September 30, 2020, compared to HKD 64.4 million as of March 31, 2020[28]. - The group's cash and bank balances totaled approximately HKD 42.1 million as of September 30, 2020, down from HKD 60.6 million as of March 31, 2020[27]. - The net current assets of the group increased to approximately HKD 157.4 million as of September 30, 2020, from approximately HKD 144.0 million as of March 31, 2020[27]. - The company has a total equity of HKD 248,221,000 as of September 30, 2020, compared to HKD 252,367,000 as of the same date in 2019, showing a slight decrease of approximately 1.5%[98]. - The company’s total liabilities decreased to HKD 85,700,000 from HKD 86,688,000 year-over-year, indicating a reduction in financial obligations[98]. Strategic Developments - The company has expanded its business into the People's Republic of China, providing construction services and real estate development[10]. - The group plans to use the remaining net proceeds for various projects, including expanding its workforce in Hong Kong and China, with a total planned expenditure of HKD 33.7 million[47]. - The company has plans for market expansion and new product development, although specific details were not disclosed in the report[100]. - The company is actively exploring potential acquisitions to enhance its market position and operational capabilities[100]. Shareholder Information - The group did not declare an interim dividend for the period, compared to HKD 0.003 per share for the same period last year[39]. - The company declared and paid no dividends during the period, maintaining cash reserves for future investments[99]. - As of September 30, 2020, major shareholders, HY Steel, held 570,000,000 shares, representing approximately 74.26% of the company's total shares[60]. Operational Challenges - The group faced challenges due to the COVID-19 pandemic, impacting its operational performance and necessitating a focus on cost control and efficiency improvements[40]. Auditor and Compliance - The company appointed a new auditor, Tianzhi Hong Kong CPA Limited, effective December 18, 2020, following the resignation of Deloitte due to a disagreement over audit fees[56]. - The company has adopted a standard code for regulating directors' securities trading, ensuring compliance during the reporting period[67].