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倚賴該等內容而引致的任何損 失 承 擔 任 何 責 任。 美亨實業控股有限公 司 Million Hope Industries Holdings Limited （於開曼群島註冊成立的有限公司 ） （股份代號 ：1897） 截至2025年3月31日止年度 全年業績公告 業績概要 截 至2025年3月3 1日 止 年 度，美 亨 實 業 控 股 有 限 公 司（「本公司」）及 其 附 屬 公 司（統 稱「本集團」）錄 得 收 益412,200,000港 元，較 截 至2024年3月3 1 日止年度錄得的603,500,000港元減少31.7%。收 益 大 幅 減 少 乃 由 於 年 內 本 集 團 若 干 項 目 的 總 體 計 劃 延 遲 或 暫 停 以 及 物 業 及 建 築 市 場 低 迷 所 致。 本年度收益主要由九龍內地段第 11264 號 何 文 田 站、白 石 角 大 埔 市 地 段 ...

Company Overview - Meiheng Industrial Holdings Limited operates as a subcontractor primarily engaged in the design, supply, and installation of facade and curtain wall systems, focusing on curtain walls and aluminum windows [2] - The company has been in operation for over 20 years in Hong Kong, with its history tracing back to 1990 when its main operating subsidiary was established [2] - Meiheng provides customized design and products for new and existing buildings, working closely with clients and architects [2] Financial Performance - As of September 30, 2024, Meiheng reported total revenue of 245 million HKD, a year-on-year decrease of 16.43% [1] - The net profit attributable to shareholders was 6.088 million HKD, showing a significant year-on-year increase of 49.79% [1] - The gross profit margin stood at 7.43%, while the debt-to-asset ratio was 19.75% [1] Market Position and Valuation - Meiheng's price-to-earnings (P/E) ratio is 12.48, ranking 65th in the industry, compared to the average P/E ratio of 9.19 for the construction sector [1] - The company has underperformed the Hang Seng Index, with a year-to-date decline of 5.62%, while the index has increased by 19.82% [1] - No investment ratings have been issued by institutions for Meiheng at this time [1] Industry Context - The construction industry has an average P/E ratio of 9.19, with a median of 1.54 [1] - Comparatively, other companies in the food and beverage sector have significantly lower P/E ratios, indicating a varied valuation landscape within the industry [1]

Financial Performance - The company reported unaudited consolidated revenue of HKD 271.7 million for the six months ended September 30, 2024, a decrease of 16.4% compared to HKD 325.1 million for the same period in 2023[3]. - Gross profit for the period was HKD 20.2 million, with a gross margin of 7.4%, down from HKD 31.5 million and 9.7% in the previous period, attributed to intense industry competition[3]. - The company's net profit attributable to shareholders increased by 51.1% to HKD 6.8 million, despite a 16.4% decrease in revenue and a 35.9% drop in gross profit[4]. - Basic and diluted earnings per share for the period were HKD 1.64, an increase of 50.5% from HKD 1.09 in the same period last year[5]. - The company reported a profit attributable to shareholders of HKD 6,751,000 for the six months ended September 30, 2024, compared to HKD 4,507,000 for the same period in 2023, representing a 49.8% increase[22]. - Basic and diluted earnings per share for the six months ended September 30, 2024, were HKD 0.0164, compared to HKD 0.0109 for the same period in 2023, reflecting a 50.5% increase[22]. Dividends and Share Repurchase - The board declared an interim dividend of HKD 0.5 per share, down from HKD 0.8 per share for the same period last year[6]. - The company repurchased a total of 1,360,000 shares during the six months ending September 30, 2024, at a total cost of approximately HKD 594,000, excluding transaction costs[48]. - The company has canceled 1,276,000 shares repurchased during the period, with the remaining 84,000 shares scheduled for cancellation in October 2024[48]. Assets and Liabilities - Total assets less current liabilities amounted to HKD 573.5 million as of September 30, 2024, compared to HKD 573.1 million as of March 31, 2024[9]. - Current assets decreased to HKD 440.5 million from HKD 428.8 million, with inventories dropping significantly from HKD 42.5 million to HKD 15.5 million[9]. - The company recorded a net cash position of HKD 194 million as of September 30, 2024, slightly up from HKD 193.3 million at the end of the previous fiscal year[9]. - Accounts receivable as of September 30, 2024, totaled HKD 132,095,000, an increase from HKD 89,788,000 as of March 31, 2024, representing a rise of approximately 47.00%[28]. - Accounts payable as of September 30, 2024, amounted to HKD 3,950,000, slightly down from HKD 4,098,000 as of March 31, 2024, reflecting a decrease of about 3.62%[29]. - The group's net current asset value as of September 30, 2024, was HKD 356.5 million, with a current ratio of 5.2 times[38]. - The group has no outstanding bank loans as of September 30, 2024, maintaining a net cash position[38]. Revenue Breakdown - Revenue from Hong Kong was HKD 260,210,000, down 19.9% from HKD 324,559,000 in the previous year, while revenue from Mainland China increased significantly to HKD 11,466,000 from HKD 527[17]. - Revenue from new construction projects for the six months ended September 30, 2024, was HKD 227,964,000, down 17.4% from HKD 275,884,000 in the previous year[14]. - Maintenance and other services revenue increased to HKD 8,513,000 from HKD 4,590,000, indicating a growth of 85.5%[14]. - Other income increased to HKD 5.1 million from HKD 3.8 million in the previous period, indicating a positive trend in ancillary revenue streams[8]. Economic and Market Conditions - The Hong Kong economy grew at a rate of 1.8% in the third quarter of 2024, down from 3.2% in the second quarter, primarily due to reduced private consumption and increased service imports[33]. - The unemployment rate in Hong Kong remained stable at 3.0% in the third quarter of 2024, indicating a tight labor market[33]. - The average waiting time for public housing has decreased from a peak of 6.1 years to 5.5 years, and is expected to drop to 4.5 years by the 2026-27 fiscal year, providing positive momentum for the public housing construction market[34]. - The group anticipates that the government's talent acquisition policies will increase housing demand in the medium to long term, contributing to a recovery in the private property market[35]. Strategic Initiatives - The group plans to continue focusing on residential development projects, including several major contracts in the New Territories and Kowloon[31]. - The group has established strong partnerships with various property developers, which is expected to yield satisfactory returns for shareholders once the private property market recovers[36]. - The group has secured two subsidized housing projects from the Hong Kong Housing Association and one public housing project from the Hong Kong Housing Authority during the reporting period[34]. Compliance and Governance - The company has complied with all provisions of the Corporate Governance Code, except for the absence of an independent non-executive director at the annual general meeting due to other commitments[46]. - The company has adopted the standard code of conduct for securities trading as per the listing rules, confirming compliance by all directors for the six months ending September 30, 2024[47]. - The company’s audit committee has reviewed the unaudited condensed consolidated financial statements for the six months ending September 30, 2024[51]. Employee and Operational Insights - The company had 241 full-time employees as of September 30, 2024, with 101 employees located in mainland China[50]. - The company has provided competitive compensation packages for employees, including discretionary bonuses and stock options[50]. - The company has not made any significant commitments other than those disclosed as of September 30, 2024[45].

Financial Performance - The total revenue for Million Hope Industries Holdings Limited for the year ended March 31, 2024, was HKD 603,500,000, a slight decrease of 0.6% compared to HKD 607,200,000 for the year ended March 31, 2023[3] - The gross profit increased to HKD 55,500,000, up HKD 17,700,000 from HKD 37,800,000 last year, resulting in a gross margin improvement from 6.2% to 9.2%[3] - The company's attributable profit decreased to HKD 11,500,000, down 5.0% from HKD 12,100,000, primarily due to increased losses from joint ventures and higher administrative expenses[4] - Basic and diluted earnings per share remained unchanged at HKD 0.03 compared to the previous year[5] - The total comprehensive income for the year was HKD 7,004,000, compared to HKD 5,855,000 in the previous year[9] - The company's total revenue for the year 2024 was HKD 603,549,000, a slight decrease from HKD 607,198,000 in 2023, representing a decline of approximately 0.11%[20] - Revenue from new building design, supply, and installation of aluminum windows and curtain walls was HKD 536,708,000, up from HKD 453,984,000 in 2023, indicating an increase of about 18.2%[21] - Revenue from maintenance and other services decreased to HKD 12,333,000 from HKD 22,771,000, reflecting a decline of approximately 45.9%[21] - The group's revenue for the fiscal year ending March 31, 2024, was HKD 603,500,000, a decrease from HKD 607,200,000 in the previous year, representing a decline of approximately 1.15%[49] Assets and Liabilities - As of March 31, 2024, the net asset value of the group was HKD 526,500,000, a decrease of 1.0% from HKD 532,000,000 the previous year[5] - Non-current assets totaled HKD 219,231,000 in 2024, down from HKD 231,925,000 in 2023, a decrease of about 5.5%[10] - Current assets decreased significantly to HKD 42,541,000 from HKD 61,290,000, representing a decline of approximately 30.5%[10] - The company's total liabilities decreased to HKD 74,949,000 in 2024 from HKD 73,395,000 in 2023, showing a slight increase of about 2.1%[10] - The company's cash and cash equivalents increased to HKD 193,326,000 from HKD 77,564,000, a significant increase of approximately 148.5%[10] - Non-current liabilities decreased to HKD 46,530,000 from HKD 53,518,000, a decline of about 13%[10] - The company's total assets decreased to HKD 573,059,000 from HKD 585,813,000, a decrease of approximately 2.2%[10] Dividends and Shareholder Returns - The board declared a second interim dividend of HKD 0.017 per share, consistent with the previous year, bringing the total dividend for the year to HKD 0.025 per share[6] - The basic and diluted earnings per share for the year were HKD 27.65 and HKD 27.65 respectively, down from HKD 28.94 in 2023, indicating a decrease of about 4.46%[49] - The company declared an interim dividend of HKD 0.8 per share for the first half of 2024, compared to HKD 0.8 per share in 2023[9] - The second interim dividend proposed for the fiscal year ending March 31, 2024, is HKD 1.7 per share, unchanged from the previous year[9] Operational Highlights - The company is primarily engaged in the design, supply, and installation of aluminum windows and curtain walls, focusing on long-term contracts in Hong Kong and mainland China[18] - Revenue from external customers in Hong Kong and Mainland China for 2024 was HKD 603,549, compared to HKD 607,198 in 2023, reflecting a slight decrease of 0.1%[29] - The total contract liabilities at the end of the reporting period were HKD 785,033, down from HKD 944,555 in 2023, indicating a decrease of 16.9%[26] - Major customer A contributed HKD 327,723 in revenue for 2024, significantly up from HKD 158,121 in 2023, representing an increase of 106.8%[30] - The company reported a decrease in contract assets related to defect liability period, which were reclassified to receivables upon expiration[25] - The expected revenue recognition for contracts not yet fulfilled is HKD 471,696 within one year and HKD 313,337 between one to two years[26] - The group reported a share of joint venture losses of HKD 6.8 million for the year ended March 31, 2024, primarily due to impairment losses on properties under development[63] Employee and Administrative Costs - The company experienced an increase in administrative expenses by HKD 2,600,000, mainly due to rising employee costs[4] - The total employee costs for 2024 amounted to HKD 99,731, up from HKD 94,605 in 2023, which is an increase of 5.4%[35] - The aging analysis of accounts payable shows that payables within 30 days decreased to HKD 3,310,000 from HKD 5,834,000 in 2023, a decline of approximately 43.3%[43] Market and Economic Conditions - The group faced challenges in the past year due to external factors such as geopolitical tensions and rising interest rates, impacting the market investment atmosphere and real estate development pace[71] - The group anticipates that the economic downturn may weaken housing purchasing power, potentially slowing down property development[75] - The Hong Kong government plans to construct at least 80,000 private housing units over the next five years, which is expected to stimulate market demand[73] - The Hong Kong government has secured sufficient land to meet the supply target of 338,000 public housing units over the next ten years[73] Future Outlook and Strategies - The company is committed to providing quality products and services to both public and private sector clients, establishing a solid foundation for future growth[76] - The group aims to continue bidding for both private and public projects to capture more opportunities in the market[73] - The company is considering strategic acquisitions to enhance its market position, with a budget of $300 million for potential deals[86] - Market expansion plans include entering three new international markets by the end of the year[86] - A new marketing strategy has been implemented, aiming to increase brand awareness by 30% in the next six months[86] Technology and Innovation - The company is investing in new technology development, allocating $50 million towards R&D initiatives[86] - New product launches are expected to contribute an additional $200 million in revenue over the next fiscal year[86] Customer and User Engagement - User data showed an increase in active users, reaching 10 million, which is a 15% increase compared to the previous quarter[86] - Customer satisfaction ratings improved to 90%, reflecting a 5% increase from the last quarter[86]

Financial Performance - The Group recorded unaudited consolidated revenue of HK$325.1 million for the six months ended 30 September 2023, representing an increment of 6.9% compared to HK$304.1 million for the same period last year [19]. - The unaudited consolidated profit attributable to owners of the Company was HK$4.5 million, an increase of 136.8% from HK$1.9 million in the previous corresponding period, driven by increased revenue and a gross profit margin rise from 4.4% to 9.7% [20]. - Basic and diluted earnings per share for the six months ended 30 September 2023 were HK1.09 cents, reflecting an increase of 118.0% compared to HK0.5 cents for the same period last year [21]. - Revenue for the six months ended September 30, 2023, increased to HK$325,086,000, up from HK$304,061,000 in the same period last year, representing a growth of 6.7% [137]. - Gross profit for the period was HK$31,488,000, significantly higher than HK$13,470,000 in the previous year, indicating a substantial increase of 133.4% [137]. - Profit for the period reached HK$4,507,000, compared to HK$1,891,000 in the prior year, marking an increase of 138.5% [137]. Dividends - The Board has resolved to pay a first interim dividend of HK0.8 cents per share for the six months ended 30 September 2023, consistent with the previous year's dividend [24]. - A second interim dividend of HK1.7 cents per share was paid, totaling HK$7,071,000, down from HK$8,792,000 (HK2.1 cents per share) in the previous year [183]. - The company declared an interim dividend of HK$0.008 per share for the first half of 2023, totaling HK$3,300,000, compared to HK$3,349,000 for the same period in 2022 [6]. Projects and Revenue Sources - Major projects completed during the period included a residential development at Lot No. 1068 in Kwun Tong, involving the design, supply, and installation of aluminium windows and glass walls [25]. - Revenue for the current period was mainly contributed by residential development projects at Lung Cheung Road, Tuen Mun Siu Hong, and Pak Shek Kok [19]. - Revenue from design, supply, and installation for curtain walls, aluminium windows, doors, and other products for new buildings was HK$275,884,000, up 28.2% from HK$215,170,000 in 2022 [168]. - Revenue from repairing, maintenance, and other services increased to HK$19,680,000, a rise of 117.9% from HK$9,049,000 in the previous year [168]. - Revenue from Hong Kong was HK$324,559,000, representing a 9.9% increase from HK$295,327,000 in 2022, while revenue from Mainland China dropped significantly to HK$527,000 from HK$8,734,000 [173]. Financial Position and Assets - As of September 30, 2023, the total amount of contracts on hand for the Group was HK$673.1 million [33]. - The total cash and bank balances of the Group amounted to HK$110.6 million as of September 30, 2023, representing 25.8% of current assets [47]. - The Group's net current assets were HK$356.0 million as of September 30, 2023, with a current ratio of 5.9 times [49]. - Current assets increased to HK$429,202,000 from HK$427,283,000, showing a marginal growth of 0.4% [138]. - Total assets less current liabilities as of September 30, 2023, were HK$581,803,000, slightly down from HK$585,813,000 as of March 31, 2023 [138]. Cash Flow and Liquidity - Net cash generated from operating activities for the six months ended September 30, 2023, was HK$46,061,000, compared to a cash outflow of HK$43,547,000 in the same period of 2022 [145]. - Cash and cash equivalents at the end of the period rose to HK$110,580,000, compared to HK$27,830,000 at the end of the same period in 2022, indicating improved liquidity [146]. - The net decrease in cash and cash equivalents for the period was HK$33,661,000, a significant improvement from a decrease of HK$55,634,000 in the prior year [146]. - The company did not raise new bank loans during the period, contrasting with the previous year when HK$10,000,000 was raised [145]. Share Capital and Options - As of September 30, 2023, the total number of issued shares of the Company is 412,467,630 [89]. - The share option scheme adopted on August 25, 2020, is valid for ten years and aims to reward participants contributing to the Group [90]. - As of September 30, 2023, a total of 5,987,000 share options are outstanding under the scheme [93]. - The maximum number of share options that may be issued under the Scheme is capped at 10% of the total issued shares, which translates to a limit of 41,246,763 shares [95]. Governance and Compliance - The unaudited condensed consolidated financial statements for the six months ended 30 September 2023 have been reviewed by the Audit Committee [131]. - The Company complied with all Code Provisions of the Corporate Governance Code during the reporting period, except for one deviation regarding attendance at the annual general meeting [112]. - The Company has adopted the Model Code for securities transactions by directors and confirmed compliance by all directors during the reporting period [113]. Employee and Operational Information - The group had 260 full-time employees as of 30 September 2023, with 114 employees located in Mainland China [129]. - The Company has provided competitive remuneration packages, including discretionary bonuses and share options, to its employees [129].

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依賴該等內容而引致的任何損 失 承 擔 任 何 責 任。 1 Million Hope Industries Holdings Limited 美亨實業控股有限公 司 （於開曼群島註冊成立的有限公司 ） （股份代號 ：1897） 截至2023年9月30日止六個月 中期業績公告 中期業績 截 至2023年9月3 0日 止 六 個 月，美 亨 實 業 控 股 有 限 公 司（「本公司」）及 其 附 屬 公 司（統 稱「本集團」）錄 得 未 經 審 核 綜 合 收 益325,100,000港 元，較 截 至2022年9月3 0日止六個月之收益304,100,000港元增加6.9%。未 經 審 核綜合收益增加主要歸因於過往期間工作計劃因 COVID-19疫情有所延 遲，而 本 期 間 承 接 若 干 主 要 項 目 工 作 計 劃 進 度 正 常。本 期 間 收 益 主 要 由 九龍龍翔道新九龍內地段第 ...

Financial Performance - The Group's revenue decreased by 15.4% from HK$717.7 million in the year ended March 31, 2022, to HK$607.2 million in the year ended March 31, 2023[24]. - Consolidated profit attributable to owners of the Company for the year was HK$12.1 million, a decrease of 50.8% compared to HK$24.6 million last year[25]. - The gross profit margin fell from 7.6% last year to 6.2% this year due to additional costs incurred to expedite installation processes at construction sites affected by COVID-19[25]. - Basic and diluted earnings per share were HK$0.03, representing a 50.0% decrease from HK$0.06 last year[26]. - The net asset value of the Group as of March 31, 2023, was HK$532.0 million, a decrease of 1.4% from HK$539.3 million as of March 31, 2022[27]. - Net asset value per share as of March 31, 2023, was HK$1.27, down from HK$1.29 the previous year[27]. - The total dividend declared for the year is HK$2.5 cents per share, down from HK$3.7 cents per share in the previous year[31]. - The decrease in revenue was primarily attributed to delays in work programmes of certain projects[24]. - The financial results reflect the challenges faced due to the COVID-19 pandemic and its impact on project timelines[25]. Contracts and Projects - Major revenue-generating projects included residential developments at Tuen Mun Siu Hong, Tai Po Kau, Kai Tak, and Lung Cheung Road[24]. - The Group's outstanding contracts amounted to HK$944.6 million as of March 31, 2023, with stable revenue expected in the coming year[44]. - The total outstanding amount of contracts on hand as of March 31, 2023, was HK$944.6 million[62]. - The Group's unfinished contracts have decreased due to fierce competition in the industry, prompting a conservative bidding strategy[34]. Economic Outlook - Hong Kong's real GDP decreased by 3.5% in 2022 due to the COVID-19 pandemic and external economic conditions[32]. - The economic outlook for Hong Kong is expected to improve as the pandemic eases, boosting private consumption and labor market conditions[39]. Operational Strategy - The Group aims to control costs and monitor project quality to maintain customer satisfaction and secure new project contracts[41]. - Construction material prices have stabilized, contributing to improved business operations in the second half of the financial year[33]. - The Group will continue to focus on providing quality products and services to establish a solid foundation for future development[44]. Liquidity and Financial Position - The Group had total cash and bank balances of HK$77.6 million as of March 31, 2023, accounting for 18.2% of current assets[76]. - The Group had access to banking facilities totaling HK$430.0 million, with HK$145.6 million utilized for performance bonds as of March 31, 2023[75]. - The Group's net current assets as of March 31, 2023, were HK$353.9 million, down from HK$365.1 million as of March 31, 2022, with a current ratio of 5.8 times[80]. - The Group's liquidity position is expected to remain healthy in the coming year, with sufficient financial resources to meet obligations and future development requirements[81]. Corporate Governance - The Group has maintained compliance with all provisions of the Corporate Governance Code during the year ended March 31, 2023, except for one deviation regarding attendance at the annual general meeting[117]. - The Board of Directors met the requirement of having at least three independent non-executive directors, representing at least one-third of the Board[131]. - The Group emphasizes the importance of good corporate governance practices to protect shareholder interests[116]. - The Board composition includes a balanced mix of executive and non-executive directors to ensure independence in decision-making[126]. - The Company has received written annual confirmation of independence from each independent non-executive director, confirming their compliance with independence requirements[136]. - The Nomination Committee was established on February 22, 2019, to oversee the appointment and re-election of directors[150]. - The Company is committed to providing equal opportunities in employment, training, and career development for its employees[149]. Board and Management Practices - The Chairman and Managing Director roles are separated, with the Chairman focusing on overall strategic planning and the Managing Director handling day-to-day operations[163][165]. - All directors participated in continuous professional development during the year ended March 31, 2023, to enhance their knowledge and skills[173]. - The Company ensures that directors are kept informed of regulatory developments and changes relevant to their roles[169]. - The Company held four regular Board meetings during the year ended March 31, 2023, focusing on approving the Group's forecast and budget, interim and final results, and reviewing risk management and internal control systems[188]. - The Audit Committee conducted three meetings during the year ended March 31, 2023, reviewing the Company's annual results and making recommendations regarding the external auditor's appointment and remuneration[194]. Audit and Risk Management - The Audit Committee is responsible for reviewing the Group's operating, financial, and accounting policies and practices[195]. - The Company is committed to maintaining effective risk management and internal control systems, as reported to the board[196]. - The Audit Committee reviews the external auditor's performance annually, considering factors such as independence, audit quality, and effectiveness of the audit process[197]. - The Company has adopted the Model Code as a guideline for securities transactions by directors and employees[176].

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倚賴該等內容而引致的任何損 失承擔任何責任。 Million Hope Industries Holdings Limited 美 亨 實 業 控 股 有 限 公司 （於開曼群島註冊成立的有限公司） 1897 （股份代號： ） 2023 3 31 截至 年 月 日止年度 全年業績公告 業績概要 2023 3 31 截至 年 月 日止年度，美亨實業控股有限公司（「 本公司」）及其附 607,200,000 2022 3 屬公司（統稱「本集團」）錄得收益 港元，較截至 年 月 31 717,700,000 15.4% 日止年度錄得的 港元減少 。收益減少乃主要由於若 干項目的工作計劃延誤所致。本年度收益主要由屯門兆康屯門市地段第 483 230 6563 號、大埔滘大埔市地段第 號、啟德新九龍內地段第 號以及九 6579 11 龍龍翔道新九龍內地段第 號的住宅發展項目以及九龍牛頭角道 號 之綜合發展項目貢獻。 ...

Financial Performance - For the six months ended September 30, 2022, the Group recorded unaudited consolidated revenue of HK$304.1 million, a decrease of 20.1% from HK$380.5 million for the same period in 2021[13]. - The unaudited consolidated profit attributable to owners of the Company was HK$1.9 million, representing a decrease of 91.3% compared to HK$21.8 million for the last corresponding period[14]. - Basic and diluted earnings per share for the six months ended September 30, 2022, were HK0.5 cents, a decrease of 90.2% from HK5.1 cents for the corresponding period last year[15]. - Gross profit for the period was HK$13,470, down 67.6% from HK$41,480 in the previous year[150]. - Total comprehensive income for the period was a loss of HK$6,594, compared to a gain of HK$22,665 in the same period last year[150]. - Profit for the period was HK$1,891, a significant decline of 91.3% from HK$21,800 in the prior year[150]. Revenue Breakdown - Revenue for the current period was mainly contributed by residential development projects at N.K.I.L 6563 Kai Tak, TMTL 483 Tuen Mun Siu Hong, and TPTL 230 Tai Po Kau[13]. - Revenue from design, supply, and installation of curtain walls, aluminium windows, doors, and other products for new buildings was HK$215,170,000, down 33.0% from HK$320,841,000 in the previous year[188]. - Revenue from design, supply, and installation of aluminium windows, doors, and other products for new buildings increased to HK$79,842,000, up 42.7% from HK$55,980,000 in the previous year[188]. - Revenue from repairing, maintenance, and other services was HK$9,049,000, an increase of 143.5% compared to HK$3,723,000 in the same period last year[188]. - Revenue from Hong Kong decreased to HK$295,327,000 in 2022 from HK$377,723,000 in 2021, representing a decline of approximately 21.8%[197]. - Revenue from Mainland China increased to HK$8,734,000 in 2022 from HK$2,821,000 in 2021, showing a growth of approximately 3.1 times[197]. Dividend and Shareholder Returns - The Board has resolved to pay a first interim dividend of HK0.8 cents per share for the six months ended September 30, 2022, down from HK1.6 cents per share for the same period in 2021[20]. - Dividends paid during the period were HK$8,792,000, down from HK$11,030,000 in the previous year, reflecting a reduction in shareholder returns[164]. Financial Position and Liquidity - The Group's total cash and bank balances amounted to HK$27.8 million as of September 30, 2022, down from HK$86.6 million as of March 31, 2022[37]. - The Group's net current assets were HK$356.1 million as of September 30, 2022, compared to HK$365.1 million as of March 31, 2022[39]. - The current ratio was 5.6 times as of September 30, 2022, down from 6.2 times as of March 31, 2022[39]. - The Group is currently in a net cash position with no outstanding bank loans as of September 30, 2022[39]. - The Group's liquidity position is expected to remain healthy in the coming year, with sufficient financial resources to meet obligations and future development requirements[40]. Impact of COVID-19 - The financial results reflect the impact of the COVID-19 pandemic on construction schedules and associated costs[14]. - The pandemic has caused project delays and increased costs, impacting the Group's gross profit margin and success rate in winning tenders[33]. - The Group received government grants of HK$3,824,000 during the six months ended September 30, 2022, related to COVID-19 subsidies, while no grants were received in the same period of 2021[200]. Corporate Governance and Compliance - The Company has complied with all Code Provisions of the Corporate Governance Code, except for the absence of certain non-executive directors at the 2022 annual general meeting due to other engagements[127]. - The Company emphasizes a quality Board and transparency to all shareholders as part of its corporate governance principles[127]. - The Company has adopted the Model Code for directors' securities transactions and all directors confirmed compliance during the six months ended September 30, 2022[128]. Employee and Operational Information - The Group had 274 full-time employees as of September 30, 2022, with 125 employees located in Mainland China[139]. - The Company did not purchase, sell, or redeem any of its listed securities during the six months ended September 30, 2022[138]. Future Outlook - The global economic outlook is deteriorating, with high inflation and interest rate hikes potentially leading to a recession, which may affect Hong Kong's economic recovery[28]. - The government plans to prioritize land and housing development, which may benefit the Group as a housing construction supplier[32].

Financial Performance - The Group's revenue for the year ended March 31, 2022, amounted to HK$717.7 million, representing an increase of 33.9% compared to HK$536.0 million for the previous year[28]. - The consolidated profit attributable to owners of the Company for the year ended March 31, 2022, was HK$24.6 million, a decrease of 36.8% from HK$38.9 million last year[29]. - The gross profit margin decreased from 14.0% last year to 7.6% this year due to additional costs incurred to expedite installation processes affected by COVID-19[29]. - Basic and diluted earnings per share for the year were HK$0.06, representing a decrease of 33.3% compared to HK$0.09 last year[33]. - The net asset value of the Group as of March 31, 2022, was HK$539.3 million, a decrease of 1.2% from HK$545.9 million the previous year[35]. - The total dividend declared for the year was HK$3.7 cents per share, down from HK$4.2 cents per share in the previous year[37]. - The total cash and bank balances amounted to HK$86.6 million, representing 19.9% of current assets, down from HK$236.0 million or 46.6% of current assets a year earlier[82]. - The Group experienced a net cash outflow of HK$43.1 million in operating activities, HK$72.5 million in investing activities, and HK$34.0 million in financing activities for the year[85]. - The current ratio as of March 31, 2022, was 6.2 times, compared to 7.2 times as of March 31, 2021[85]. Revenue Drivers - Revenue growth was primarily driven by residential development projects at various locations including Kai Tak and Lohas Park[28]. - Major completed projects included residential developments at N.K.I.L. 6564, 6563, and 6565 in Kai Tak, contributing to revenue growth[72]. - The Group has sufficient outstanding contracts amounting to HK$1,078.6 million as of March 31, 2022, expected to support revenue over the next two years[50]. - The total outstanding amount of contracts on hand as of March 31, 2022, was HK$1,078.6 million[69]. Government and Economic Impact - The decrease in subsidies from the HKSAR Government's Employment Support Scheme amounted to HK$6.4 million during the current year[29]. - The HKSAR Government revised down the real GDP growth forecast for 2022 to 1%-2% from the previous 2%-3.5% due to various uncertainties[44]. - The impact of the COVID-19 pandemic has significantly affected construction progress and productivity, with the unemployment rate rising to 5.4%[41]. - The construction market is expected to remain prosperous, with the Group's market share anticipated to increase in the future[46]. Corporate Governance - The Company complied with all provisions of the Corporate Governance Code during the reporting period, with one noted deviation regarding attendance at the annual general meeting[126]. - The Board composition includes at least three independent non-executive directors, representing at least one-third of the Board, ensuring independence in decision making[141]. - All independent non-executive directors have confirmed their independence in accordance with Rule 3.13 of the Listing Rules, and the Company has assessed their independence[148]. - The Company adopted a Board Diversity Policy on 22 February 2019, considering various aspects such as gender, age, and professional experience to achieve diversity[152]. - The Nomination Committee has reviewed the board diversity as of 31 March 2022 and found it characterized by diversity in cultural and educational background, professional experience, skills, knowledge, and length of service[153]. - The Company has established a Nomination Committee to handle matters related to the appointment and re-election of directors, with a policy adopted on 22 February 2019[154]. - The Board is composed of a balanced mix of executive and non-executive directors, ensuring effective leadership and decision-making[138]. Director Development and Responsibilities - Directors are encouraged to participate in continuous professional development to keep their knowledge and skills updated[185]. - The Company ensures that directors receive timely and reliable information for effective decision-making[180]. - Newly appointed directors receive necessary induction and information to understand the Company's operations and their responsibilities under the Listing Rules[186]. - The training areas included updates on corporate governance, laws, rules, regulations, accounting, financial management, and other professional skills[194]. - The company secretary, Mr. Kwok Wing Fai, plays a crucial role in ensuring good information flow within the Board and compliance with corporate governance developments[200]. Joint Ventures and Investments - The Group entered into a joint venture agreement with a capital commitment of HK$344.8 million, with each party contributing HK$172.4 million[99]. - The acquisition of a property located at No. 55 Nga Tsin Wai Road, Kowloon, was completed for a purchase price of HK$195.0 million in January 2022[99]. - The Group had access to banking facilities totaling HK$430.0 million, of which HK$156.1 million was utilized for performance bonds as of March 31, 2022[79]. - The Group's proportionate share of the bank loan balance for the joint venture was HK$64.1 million as of March 31, 2022[119]. - The Group did not have any plans for material investments or capital assets in the coming year, aside from the commitment to provide shareholder loans[109].