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。 King's Stone Holdings Group Limited 金石控股集團有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1943） 截至二零二五年三月三十一日止年度 年度業績 金石控股集團有限公司（「本公司」）董事（「董事」）會（「董事會」）謹此公佈本公司 及其附屬公司（統稱「本集團」）截至二零二五年三月三十一日止年度之綜合業績連 同上一年度比較數字如下： 綜合損益及其他全面收益表 截至三月三十一日止年度 | | | 二零二五年 | 二零二四年 | | --- | --- | --- | --- | | | 附註 | 千港元 | 千港元 | | | | | （經重列） | | 持續經營業務 | | | | | 收益 | 6 | 173,388 | 452,263 | | 服務成本 | | (220,525) | (434,212) | | 毛（損）╱利 | | (47,137) | ...

资料显示，金石控股集团有限公司为建筑业的分包商,主要为香港的公营及私营机构提供模板工程服 务。本集团承接的模板工程主要包括(i)使用木材及胶合板的传统模板;(ii)使用铝和钢的系统模板。本集 团亦承接其他建筑工程,例如抹灰,A&A工程及其他杂项工程,包括钢筋固定及根据客户要求进行混凝土浇 筑。公司在建筑行业拥有超过25年的集团历史。当合发旭英工程有限公司于1990年成立时,本集团主要 从事结构钢相关工程作为分包商,自1998年以来已将重点转向模板工程。公司的客户主要是香港建筑业 的主要承建商。公司项目的最终所有者来自私营部门和公共部门(包括政府和法定机构)。 （以上内容为金融界基于公开消息，由程序或算法智能生成，不作为投资建议或交易依据。） 本文源自：金融界 作者：行情君 5月7日，截至港股收盘，恒生指数上涨0.13%，报22691.88点。金石控股集团（01943.HK）收报0.355港 元/股，上涨22.41%，成交量670.5万股，成交额217.78万港元，振幅22.41%。 最近一个月来，金石控股集团累计涨幅130.16%，今年来累计涨幅308.45%，跑赢恒生指数12.97%的涨 幅。 财务数据显示 ...

Revenue and Financial Performance - Revenue decreased by 59.4% from HKD 254.6 million in the six months ended September 30, 2023, to HKD 103.3 million in the six months ended September 30, 2024, primarily due to reduced successful bids and lower contract values amid intense market competition[5] - Revenue decreased by HKD 151.3 million from HKD 254.6 million in the six months ended September 30, 2023, to HKD 103.3 million in the six months ended September 30, 2024[27] - Revenue for the six months ended September 30, 2024, was HK$103.3 million, a significant decrease from HK$254.6 million in the same period last year, representing a 59.4% decline[59] - Revenue from external customers for the six months ended September 30, 2023, was HK$254,563 thousand, with HK$254,358 thousand from external customers and HK$205 thousand from other sources[100] - Revenue from construction services for the six months ended September 30, 2024, was HK$102,963 thousand, a significant decrease from HK$254,358 thousand in the same period in 2023[114] - Revenue from external customers for the construction services segment was HKD 102.963 million, while the trading and brokerage segment generated HKD 334 thousand in revenue, totaling HKD 103.297 million for the six months ended September 30, 2024[97] - Revenue from major clients in the construction services segment for the six months ended September 30, 2024, included HK$52,854 thousand from Client III and HK$15,269 thousand from Client IV[108] Gross Profit and Loss - Gross loss of HKD 27.6 million in the six months ended September 30, 2024, compared to a gross profit of HKD 15.4 million in the same period last year, with a gross loss margin of 26.8%[6] - Gross loss for the period was HK$27.6 million, compared to a gross profit of HK$15.4 million in the previous year[59] - The company's gross margin is under pressure due to competitive pricing in bidding and quoting processes[28] Net Loss and Profit - Net loss attributable to owners of the parent company was HKD 62.5 million, compared to HKD 2.4 million in the same period last year[15] - Net loss for the period was HK$62.5 million, a substantial increase from the net loss of HK$2.4 million in the same period last year[59] - The company's total loss before tax for the six months ended September 30, 2024, was HKD 62.539 million, including unallocated corporate expenses of HKD 4.218 million and financing costs of HKD 34 thousand[97] - Pre-tax loss for the six months ended September 30, 2024, was HK$1,753 thousand for property, plant, and equipment depreciation, compared to HK$2,896 thousand in the same period in 2023[120] Cash and Cash Equivalents - Cash and cash equivalents decreased to HKD 24.4 million as of September 30, 2024, from HKD 98.1 million as of March 31, 2024[17] - Cash and cash equivalents dropped to HK$24.4 million as of September 30, 2024, from HK$98.1 million as of March 31, 2024[61] - Cash and cash equivalents decreased to HK$27,087 thousand as of September 30, 2024, from HK$122,854 thousand as of March 31, 2024[137] - The company's cash and cash equivalents decreased to 24,401 thousand HKD as of September 30, 2024, from 98,139 thousand HKD as of March 31, 2024[160] Administrative and Employee Expenses - Administrative expenses increased by HKD 24.1 million to HKD 35.3 million, primarily due to a HKD 21.7 million increase in discretionary bonuses for employees[10] - Employee benefit expenses (excluding directors and top executives) increased significantly to HK$30,963 thousand for wages and salaries in 2024, up from HK$6,893 thousand in 2023[120] - The company maintains a competitive compensation policy to attract and retain talent, including salary, bonuses, and cash allowances[33] Other Income and Gains - Other income and gains decreased by 86.5% from HKD 3.0 million to HKD 0.4 million, mainly due to zero realized gains from financial assets at fair value through profit or loss[7] - Interest income for the six months ended September 30, 2024, was HK$109 thousand, compared to HK$177 thousand in the same period in 2023[114] - Government grants for the six months ended September 30, 2024, were HK$93 thousand, down from HK$192 thousand in the same period in 2023[114] - The company recorded a gain of HK$21,000 from early termination of lease agreements in the six months ended September 30, 2024[126] Assets and Liabilities - Total assets decreased to HK$121.5 million as of September 30, 2024, from HK$184.1 million as of March 31, 2024[61] - Total assets as of September 30, 2024, were HK$176,806 thousand, a decrease from HK$265,365 thousand as of March 31, 2024[105] - Total liabilities as of September 30, 2024, were HK$55,502 thousand, down from HK$81,522 thousand as of March 31, 2024[105] - Financial assets decreased to 65,478 thousand HKD as of September 30, 2024, from 158,785 thousand HKD as of March 31, 2024[160] - Financial liabilities decreased to 55,314 thousand HKD as of September 30, 2024, from 81,334 thousand HKD as of March 31, 2024[162] - Trade receivables increased to 30,055 thousand HKD as of September 30, 2024, from 26,536 thousand HKD as of March 31, 2024[160] - Trade payables and retention payables totaled HK$27,889 thousand as of September 30, 2024, with trade payables from construction services at HK$20,420 thousand[139] - Trade payables within 30 days decreased to 21,801 thousand HKD as of September 30, 2024, compared to 43,499 thousand HKD as of March 31, 2024[142] - Total trade payables decreased to 23,087 thousand HKD as of September 30, 2024, from 44,059 thousand HKD as of March 31, 2024[142] Capital and Share Information - Capital commitments for the acquisition of property, plant, and equipment remained at HKD 1.1 million as of September 30, 2024[20] - The company's issued and fully paid share capital remained unchanged at 1,000,000,000 shares, with a nominal value of 10,000 HKD as of both September 30, 2024, and March 31, 2024[143] - The company's share option plan allows for the issuance of up to 100,000,000 shares, representing 10.0% of the issued shares at the time of listing[50] - No share options were granted, exercised, canceled, or lapsed during the six months ended September 30, 2024[52] - No share options were granted under the share option plan from the adoption date until the approval of the interim financial statements[150] - The company's share option plan allows for the issuance of up to 100,000,000 shares, representing 10% of the issued share capital at the listing date[146] Dividends and Financial Statements - No interim dividend was declared for the six months ended September 30, 2024[16] - The company did not declare any interim dividend for the six months ended September 30, 2024, and 2023[124] - The company's financial statements are prepared in accordance with Hong Kong Accounting Standard 34 (HKAS 34) and the applicable disclosure requirements of the Hong Kong Stock Exchange Listing Rules[86] - The company's financial statements are unaudited but have been reviewed by the company's audit committee[88] - The company's audit committee reviewed and confirmed the unaudited condensed consolidated financial statements for the six months ended September 30, 2024[40] - The company's accounting policies applied in the interim financial statements are consistent with those applied in the 2024 annual financial statements, with no significant changes[92] - The company adopted new and revised Hong Kong Financial Reporting Standards (HKFRS) effective from April 1, 2024, including amendments to HKFRS 16, HKAS 1, and HKAS 7, which did not result in significant changes to accounting policies or financial impact[93] Business Segments - The company identified two reportable segments: construction services and trading & brokerage, which are managed separately due to differing business strategies[96] - The construction services segment reported a segment loss of HKD 56.798 million, and the trading and brokerage segment reported a loss of HKD 1.490 million, resulting in a total segment loss of HKD 58.288 million for the six months ended September 30, 2024[97] - Segment profit for the six months ended September 30, 2023, was HK$1,330 thousand, with a segment loss of HK$1,354 thousand in the trading and brokerage segment[100] Company Strategy and Market Position - The company is exploring opportunities to expand its customer base and market share, including potential business opportunities outside Hong Kong[28] - The company is considering expanding its core business geographically to enhance future growth and diversify revenue sources[28] - The company changed its name from "Silver Tide Holdings Limited" to "King's Stone Holdings Group Limited" effective August 26, 2024[53] - The new company name is intended to provide a fresh corporate image and identity[54] Subsidiaries and Investments - The company's main subsidiaries include Hefa Xuying Engineering Limited, which is engaged in construction services, and Huanghe Securities Limited, which is involved in securities trading and brokerage[84] - The company did not make any significant acquisitions, disposals, or investments during the reporting period[30][31][32] - The company acquired assets worth HK$300,000 in the six months ended September 30, 2024, a decrease from HK$928,000 in the same period in 2023[126] Shareholder Information - Central Force Premium Group Limited holds 750,000,000 shares, representing 75.0% of the company's equity[45] - Regal Loyalty Limited, controlled by Mr. Wang Jianfeng, holds 750,000,000 shares, representing 75.0% of the company's equity[42][45] - Ms. Xu Fang, spouse of Mr. Wang Jianfeng, is deemed to have an interest in 750,000,000 shares, representing 75.0% of the company's equity[45] Financial Assets and Liabilities - The company's financial assets and liabilities are measured at fair value using market-observable inputs and are classified into three levels based on the observability of the inputs[163] - Cash and cash equivalents, trade receivables, contract assets, receivables from ultimate holding company, prepayments, other receivables, trade payables, retention payables, other payables, and accruals are not measured at fair value due to their short-term nature, with their carrying amounts approximating fair value[166] Other Financial Information - The company's equity attributable to owners of the parent decreased to HK$121.3 million as of September 30, 2024, from HK$183.8 million as of March 31, 2024[73] - The company's total reserves decreased to HK$111.3 million as of September 30, 2024, from HK$173.8 million as of March 31, 2024[72] - Net cash used in operating activities was HK$73.0 million for the six months ended September 30, 2024, compared to net cash generated from operating activities of HK$6.9 million in the same period last year[78] - The effective tax rate for Chinese subsidiaries is 25% under the Enterprise Income Tax Law[123] - Contract assets as of September 30, 2024, included unbilled revenue of HK$24,056 thousand and retention receivables of HK$76,358 thousand, with a total of HK$100,206 thousand after impairment[129] - Trade receivables aged within 30 days amounted to HK$21,592 thousand as of September 30, 2024, down from HK$26,536 thousand as of March 31, 2024[134] - The company did not purchase, sell, or redeem any listed securities during the six months ended September 30, 2024[47] - No significant events occurred after the reporting period[167]

Financial Performance - Parent company owner's total comprehensive loss amounted to HK$62.539 million, compared to HK$2.394 million in the same period last year[2] - Revenue decreased to HK$103.297 million from HK$254.563 million year-over-year, with a gross loss of HK$27.640 million compared to a gross profit of HK$15.382 million in 2023[2] - Revenue from construction services decreased to HKD 102.96 million in the six months ended September 30, 2024, compared to HKD 254.36 million in the same period last year[19] - Revenue from trading and brokerage services increased to HKD 334,000 in the six months ended September 30, 2024, compared to HKD 205,000 in the same period last year[19] - Total revenue for the group decreased to HKD 103.30 million in the six months ended September 30, 2024, compared to HKD 254.56 million in the same period last year[19] - Segment loss for construction services was HKD 56.80 million in the six months ended September 30, 2024, compared to a segment profit of HKD 2.68 million in the same period last year[19] - Segment loss for trading and brokerage services was HKD 1.49 million in the six months ended September 30, 2024, compared to a segment loss of HKD 1.35 million in the same period last year[19] - Total segment loss for the group was HKD 58.29 million in the six months ended September 30, 2024, compared to a segment profit of HKD 1.33 million in the same period last year[19] - Loss before tax for the group was HKD 62.54 million in the six months ended September 30, 2024, compared to a loss before tax of HKD 1.95 million in the same period last year[19] - Revenue from private sector construction services decreased to HKD 94.97 million in the six months ended September 30, 2024, compared to HKD 241.93 million in the same period last year[33] - Revenue decreased by 59.4% from HKD 254.6 million in the six months ended September 30, 2023, to HKD 103.3 million in the six months ended September 30, 2024, primarily due to reduced successful bids and lower contract values amid intense market competition[61] - Gross loss for the six months ended September 30, 2024, was approximately HKD 27.6 million, compared to a gross profit of HKD 15.4 million for the same period in 2023, with a gross loss margin of 26.8% versus a gross profit margin of 6.0% in 2023[64] - Revenue from the construction segment decreased by HKD 151.4 million due to reduced successful bids and lower contract values, contributing to the gross loss[64] - Other income and gains decreased by approximately 86.5%, from HKD 3.0 million in 2023 to HKD 0.4 million in 2024, primarily due to a reduction in realized gains from financial assets at fair value[64] - Administrative expenses increased by HKD 24.1 million, from HKD 11.1 million in 2023 to HKD 35.3 million in 2024, mainly due to discretionary bonuses for employees[65] - The company recorded a net loss attributable to owners of the parent of approximately HKD 62.5 million for the six months ended September 30, 2024, compared to a net loss of HKD 2.4 million in the same period in 2023[70] - The company's revenue decreased by HKD 151.3 million, from HKD 254.6 million in 2023 to HKD 103.3 million in 2024, primarily due to reduced template services and trading and brokerage services[81] Assets and Liabilities - Total non-current assets decreased to HK$8.370 million from HK$10.353 million as of September 30, 2024[4] - Total current assets decreased to HK$168.436 million from HK$255.012 million as of September 30, 2024[4] - Total current liabilities decreased to HK$55.314 million from HK$81.235 million as of September 30, 2024[4] - Net current assets decreased to HK$113.122 million from HK$173.777 million as of September 30, 2024[4] - Total equity decreased to HK$121.304 million from HK$183.843 million as of September 30, 2024[4] - Total assets for the group decreased to HKD 176.81 million as of September 30, 2024, compared to HKD 265.37 million as of March 31, 2024[25] - Total liabilities for the group decreased to HKD 55.50 million as of September 30, 2024, compared to HKD 81.52 million as of March 31, 2024[25] - Contract assets increased from HKD 94.44 million as of March 31, 2024, to HKD 100.206 million as of September 30, 2024, driven by unbilled revenue and retention receivables[51] - Trade receivables aged within 30 days decreased from HKD 26.536 million as of March 31, 2024, to HKD 21.592 million as of September 30, 2024[55] - Trade payables decreased from HKD 44.059 million as of March 31, 2024, to HKD 23.087 million as of September 30, 2024, with a significant reduction in payables from securities customers[55] - Cash and cash equivalents decreased to HKD 24.4 million as of September 30, 2024, from HKD 98.1 million as of March 31, 2024[73] Business Operations - The company's main business includes construction services and securities trading and brokerage, with subsidiaries such as Hop Fat Yuk Ying Engineering Limited and Wong Ho Securities Limited[6][7] - The company plans to expand its customer base and market share, while exploring potential business opportunities outside of Hong Kong to enhance future growth and diversify revenue sources[82] - The company employed 34 employees in Hong Kong as of September 30, 2024, a decrease from 37 employees as of March 31, 2024[85] - The company did not make any significant acquisitions or disposals of subsidiaries or associates during the reporting period[87] - The company did not hold any significant investments during the reporting period[88] - The company did not have any other significant investment or capital asset plans during the reporting period[89] - The company and its subsidiaries did not purchase, sell, or redeem any listed securities during the six months ended September 30, 2024[99] - The company's share option plan allows for the issuance of up to 100,000,000 shares, representing 10% of the issued shares as of the listing date[102] - No share options were granted, exercised, lapsed, or expired during the six months ended September 30, 2024, and no options were outstanding under the share option plan[104] - Significant events affecting the group since September 30, 2024, are detailed in the "Business Review" and "Future Prospects" sections of the "Management Discussion and Analysis"[109] Financial Statements and Compliance - The unaudited condensed interim financial statements were prepared in accordance with Hong Kong Accounting Standards and were authorized for issue on November 26, 2024[9] - The company's audit committee reviewed the unaudited condensed consolidated financial statements for the six months ended September 30, 2024, and found them to be in compliance with applicable accounting standards and listing rules[98] - The interim report for the six months ended September 30, 2024, containing all information required by the listing rules, will be published on the company's website and the Stock Exchange website, and sent to shareholders in due course[108] Expenses and Costs - Financing costs decreased from HKD 58,000 in 2023 to HKD 34,000 in 2024, with bank overdraft interest dropping from HKD 3,000 to HKD 2,000 and lease liability interest decreasing from HKD 55,000 to HKD 32,000[41] - Employee benefit expenses (excluding directors and top executives) increased significantly, with wages and salaries rising from HKD 6.893 million in 2023 to HKD 30.963 million in 2024[41] - Property, plant, and equipment depreciation decreased from HKD 2.896 million in 2023 to HKD 1.753 million in 2024, while right-of-use asset depreciation increased slightly from HKD 400,000 to HKD 419,000[41] Dividends and Investments - No interim dividend was recommended for the six months ended September 30, 2024, and September 30, 2023[47] - The company acquired assets worth HKD 300,000 in the six months ended September 30, 2024, compared to HKD 928,000 in the same period in 2023[49] - The company recorded a gain of HKD 21,000 from early lease termination in the six months ended September 30, 2024[49] Corporate Governance and Board of Directors - The board of directors as of the announcement date includes Executive Director Wang Jianfeng (Chairman and CEO), Non-Executive Directors Cai Huihui, Liu Jingna, and Ruan Dongdong, and Independent Non-Executive Directors Wang Wenxing, An Wenlong, and Wu Cuilan[110] Corporate Name Change - The company has changed its English name from "SILVER TIDE HOLDINGS LIMITED" to "King's Stone Holdings Group Limited" and its Chinese name from "銀濤控股有限公司" to "金石控股集團有限公司", effective from August 26, 2024[105] - The new company name is expected to provide a fresh corporate image and identity[107]

Financial Performance - The revenue for the fiscal year 2023/24 was approximately HKD 452.7 million, an increase of about HKD 80.6 million or 21.7% compared to HKD 372.1 million for the fiscal year 2022/23[6] - The gross profit for the fiscal year 2023/24 was approximately HKD 18.3 million, down from HKD 41.5 million in the fiscal year 2022/23[9] - The loss attributable to equity holders of the parent company for the fiscal year 2023/24 was approximately HKD 32.3 million, compared to a profit of HKD 5.0 million in the fiscal year 2022/23[9] - Other income and gains decreased from approximately HKD 13.0 million in the fiscal year 2022/23 to about HKD 1.2 million in the fiscal year 2023/24, a decline of approximately 90.8%[22] - Administrative expenses increased by approximately 40.1%, from HKD 27.7 million in the fiscal year 2022/23 to HKD 38.8 million in the fiscal year 2023/24[33] - The impairment loss on trade receivables increased to HKD 13.2 million in the fiscal year 2023/24, compared to HKD 0.7 million in the fiscal year 2022/23[23] - The company recorded other losses of approximately HKD 14.0 million in the fiscal year 2023/24, compared to HKD 15.0 million in the fiscal year 2022/23[23] - The revenue contribution from trading and brokerage services was HKD 0.4 million for the fiscal year 2023/24[6] - For the fiscal year 2023/2024, the loss attributable to the company's owners was approximately HKD 32.3 million, compared to a profit of approximately HKD 5.0 million for the fiscal year 2022/2023[42] - The gross profit margin decreased to 4.0% in the fiscal year 2023/2024 from 11.1% in the fiscal year 2022/2023[199] Assets and Liabilities - As of March 31, 2024, cash and cash equivalents amounted to approximately HKD 98.1 million, an increase from approximately HKD 52.2 million as of March 31, 2023[36] - The net current assets as of March 31, 2024, were approximately HKD 173.8 million, down from approximately HKD 202.7 million as of March 31, 2023[36] - The total assets less current liabilities as of March 31, 2024, were approximately HKD 184.1 million, compared to approximately HKD 216.6 million as of March 31, 2023[36] - The group had capital commitments of HKD 1.1 million for the acquisition of properties, plants, and equipment as of March 31, 2024, with no such commitments reported as of March 31, 2023[37] - The capital-to-debt ratio as of March 31, 2024, was zero, indicating no bank or other borrowings as a percentage of total equity[46] - The company reported no bank borrowings during the fiscal year 2023/2024[115] Employment and Operations - The group employed 37 employees as of March 31, 2024, a decrease from 48 employees as of March 31, 2023[51] - The company has established a procurement management center to optimize its supply chain and enhance operational efficiency[83] - The company plans to enhance labor deployment and resource planning to mitigate operational risks due to potential project delays[103] - The company maintains a list of approved subcontractors and regularly reviews it to ensure adequate labor supply[105] Governance and Compliance - The company has adopted the principles and code provisions of the Corporate Governance Code as set out in Appendix C1 of the Listing Rules[165] - The company believes that effective corporate governance is crucial for maintaining shareholder and stakeholder trust[165] - The board is aware of compliance with relevant laws and regulations, with no significant violations reported during the fiscal year[107] - The board includes independent non-executive directors with diverse backgrounds in finance and management, enhancing governance and oversight[75][79][88] Business Strategy and Market Outlook - The company is focused on expanding its market presence and enhancing its service offerings in the construction and securities sectors[93] - The company aims to enhance its technological innovation and R&D capabilities, focusing on smart building and construction digitalization technologies to improve construction efficiency and quality[197] - The company plans to diversify its business development, particularly focusing on opportunities related to people's livelihoods, to establish a solid foundation for sustainable operations[197] - The company believes that the simulated construction market has significant development potential and will actively adapt to market changes and technological advancements[197] - The company will seek a second growth curve in business development to ensure sustainable operations and deliver substantial results to shareholders[197] Shareholder Information - The board does not recommend the payment of a final dividend for the fiscal year 2023/2024[102] - The maximum number of unexercised shares involved in the stock option plan is capped at 10% of the company's issued share capital at the time of listing, equivalent to 100,000,000 shares[120] - The stock options granted to eligible participants are limited to a maximum of 1% of the company's issued shares at any time within a twelve-month period[120] - The stock options exercise price is determined by the board but cannot be lower than the higher of the closing price on the grant date or the average closing price over the five trading days preceding the offer date[129] - The stock options granted to major shareholders or independent non-executive directors exceeding 0.1% of the issued shares or valued over HKD 5 million require prior approval from shareholders at a general meeting[128] Risks and Challenges - The group acknowledges various risks and uncertainties that may impact its operations and market performance[98] - The group reported significant fluctuations in operating performance due to factors such as political and economic environment, competition levels, and the quality and timeliness of subcontractor services[98] - The construction industry in Hong Kong benefits from strong housing demand and government infrastructure projects, but may face risks from policy changes and unforeseen events[105] Auditor and Financial Oversight - The company has appointed a new auditor, Guo Wei CPA Limited, following the resignation of its previous auditor on August 23, 2023[161] - The company’s financial operations are overseen by a finance director with over 12 years of experience in auditing and accounting[166] - The group regularly prepares aging analyses to better understand the financial status of its customers to mitigate cash flow pressures[167] Customer and Supplier Relationships - The company's five largest customers accounted for approximately 97.5% of total revenue, with the largest single customer representing 39.6%[146] - The group’s top five suppliers accounted for approximately 56.5% of total purchases in the fiscal year 2023/24, with the largest single supplier contributing 21.1%[151] - The group maintained good relationships with its employees, suppliers, customers, and other stakeholders, with no substantial disputes reported in the fiscal year 2023/24[169] Environmental Commitment - The company is committed to minimizing its environmental impact and has established an environmental management policy[111] - The company will publish its Environmental, Social, and Governance report by July 31, 2024[106]

Financial Performance - The company reported a loss attributable to ordinary equity holders of HKD 32,092,000 for the year ended March 31, 2024, compared to a profit of HKD 4,967,000 in the previous year[28]. - The company recorded a loss attributable to equity holders of approximately HKD 32.3 million for the fiscal year 2023/2024, compared to a profit of HKD 5.0 million in the fiscal year 2022/2023[65]. - The company reported a loss before tax of HKD 33,459,000 compared to a profit of HKD 11,576,000 in the previous year[155]. - The gross profit for the fiscal year 2023/2024 was approximately HKD 18.3 million, down from HKD 41.5 million in the fiscal year 2022/2023, primarily due to additional subcontracting costs[36][38]. - Other income decreased by approximately 90.8% from HKD 13.0 million in the fiscal year 2022/23 to HKD 1.2 million in the fiscal year 2023/24, primarily due to a reduction in government subsidies[71]. - The company’s total interest income for the year was HKD (384,000), compared to HKD (100,000) in the previous year, reflecting a worsening in interest income[15]. Revenue and Growth - The total revenue from the construction services segment increased to HKD 39,738,000 in 2024, up from HKD 32,717,000 in 2023, representing a growth of approximately 21.5%[30]. - The revenue for the fiscal year 2023/2024 was approximately HKD 452.7 million, representing an increase of about 21.7% compared to HKD 372.1 million in the fiscal year 2022/2023[48]. - Total revenue for the year ended March 31, 2024, was HKD 452,666,000, an increase of 21.6% from HKD 372,086,000 in the previous year[155]. - The construction services segment generated revenue of HKD 452,263,000, while the trading and brokerage segment contributed HKD 403,000, indicating a significant reliance on construction services for overall revenue[163]. Assets and Liabilities - The company’s contract assets decreased to HKD 94,440,000 in 2024 from HKD 149,057,000 in 2023, indicating a decline of approximately 36.6%[28]. - The company’s total liabilities for the construction services segment were HKD 61,570,000 in 2024, down from HKD 84,370,000 in 2023, a reduction of approximately 27%[13]. - The total liabilities decreased to HKD 81,522,000 from HKD 91,754,000, reflecting a reduction of 11.5%[144]. - The group’s total assets were HKD 262,095,000 for the fiscal year 2024, down from HKD 280,686,000 in 2023[121]. - The company’s equity attributable to owners of the parent decreased to HKD 173,843,000 from HKD 206,109,000, a decrease of 15.6%[145]. Expenses and Impairments - The impairment loss on trade receivables for the construction services segment was HKD 13,934,000 in 2024, compared to HKD 687,000 in 2023, showing a significant increase in impairment[30]. - Trade receivables impairment loss increased to HKD 13,247,000 in 2024 from HKD 687,000 in 2023[123]. - Administrative expenses increased by approximately 40.1% from HKD 27.7 million in the fiscal year 2022/23 to HKD 38.8 million in the fiscal year 2023/24, mainly due to a one-time bonus of HKD 13.6 million paid to a project manager[71]. - The group recorded other losses of approximately HKD 14.0 million in the fiscal year 2023/24, compared to HKD 15.0 million in the fiscal year 2022/23, with significant impairment losses on trade receivables increasing to HKD 13.2 million[72]. Cash Flow and Financial Position - Cash and cash equivalents as of March 31, 2024, were approximately HKD 98.1 million, an increase from HKD 52.2 million as of March 31, 2023[56]. - The company’s cash and cash equivalents decreased to HKD 98,139,000 from HKD 149,057,000, a drop of 34.2%[155]. - The total non-current assets decreased to HKD 10,353,000 from HKD 13,894,000, a decline of 25.0%[155]. - The company maintained a capital debt ratio of zero as of March 31, 2024, indicating no bank or other borrowings[76]. Strategic Plans and Future Outlook - The company plans to enhance its technological innovation and R&D capabilities, focusing on smart building and construction digitalization technologies to improve construction efficiency and competitiveness[39]. - The company aims to diversify its business development opportunities, particularly in areas related to public welfare, to establish a solid foundation for sustainable operations[39]. - The company plans to continue expanding its construction services in both public and private sectors to drive future growth[134]. - The company is actively seeking additional business opportunities in trading and brokerage services in Hong Kong to broaden its revenue base[51]. Corporate Governance and Compliance - The company confirmed compliance with the standard code of conduct regarding transactions by all directors during the fiscal year 2023/24[97]. - The company maintained sufficient public float of its shares as required by the listing rules during the fiscal year 2023/24[98]. - The company has not granted any share options under the plan as of the date of this announcement[105]. Events and Changes - The company did not declare or propose any dividends for the years ended March 31, 2024, and 2023[26]. - The company did not declare any final dividend for the fiscal year 2023/2024, consistent with the previous fiscal year[37][65]. - There were no major acquisitions or disposals of subsidiaries or associates during the fiscal year 2023/24[93]. - No significant events occurred after March 31, 2024, up to the date of this announcement[91]. - The company will hold its annual general meeting on August 21, 2024, with a suspension of share transfer registration from August 16 to August 21, 2024[90].

Employment and Governance - As of September 30, 2023, the company employed 39 staff members, a decrease from 48 staff members as of March 31, 2023[15]. - Chairman and CEO Wang Jianfeng holds a 75.0% equity interest through Central Force Premium Group Limited, which is fully owned by Regal Loyalty Limited[24]. - The company aims to maintain competitive compensation to attract and retain talented employees, with regular performance evaluations[15]. - The board believes that combining the roles of Chairman and CEO under Wang Jianfeng facilitates business strategy execution and decision-making efficiency[20]. - The company has adopted the corporate governance code and has complied with its provisions, except for a deviation regarding the separation of the roles of Chairman and CEO[18]. - The company is committed to high standards of corporate governance to maintain stakeholder trust and protect their interests[18]. - The company has not reported any conflicts of interest among directors or major shareholders during the reporting period[11]. Financial Performance - For the six months ended September 30, 2023, the company reported revenue of HKD 254,563,000, a significant increase from HKD 102,818,000 in the same period last year, representing a growth of 147.5%[42]. - The cost of sales for the same period was HKD 239,181,000, leading to a gross profit of HKD 15,382,000, compared to a gross profit of HKD 5,215,000 in the previous year[42]. - The total comprehensive loss for the period was HKD 2,394,000, a reduction from a loss of HKD 11,411,000 in the previous year, indicating an improvement in financial performance[42]. - Basic and diluted loss per share for the period was HKD 0.2 cents, compared to HKD 1.1 cents in the same period last year[42]. - The company incurred an administrative expense of HKD 11,123,000, which is an increase from HKD 10,042,000 year-on-year[42]. - The group reported a pre-tax loss of HKD 239.1 million for the six months ended September 30, 2023, compared to HKD 97.5 million for the same period in 2022[163]. - The loss attributable to equity holders of the parent was approximately HKD 2.4 million for the six months ended September 30, 2023, down from approximately HKD 11.4 million for the same period in 2022[143]. Assets and Liabilities - As of September 30, 2023, total non-current assets decreased to HKD 12,661,000 from HKD 13,894,000, a decline of approximately 8.8%[45]. - Current assets totaled HKD 287,089,000, down from HKD 293,969,000, representing a decrease of about 2.3%[45]. - Total liabilities decreased from HKD 91,237,000 to HKD 85,360,000, a reduction of approximately 6.5%[45]. - The net asset value decreased to HKD 213,715,000 from HKD 216,109,000, a decline of about 1.8%[47]. - The total equity attributable to the owners of the parent company decreased to HKD 213,715,000 from HKD 216,109,000, a decline of about 1.8%[47]. - The company’s total non-current liabilities increased to HKD 675,000 from HKD 517,000, an increase of approximately 30.6%[47]. - The total assets as of September 30, 2023, were HKD 299,750,000, down from HKD 307,863,000 as of March 31, 2023[105]. - Total liabilities decreased to HKD 86,035,000 from HKD 91,754,000 over the same period[111]. Revenue Segments - The construction services segment generated revenue of HKD 254,358,000, while the trading and brokerage segment contributed HKD 205,000[87]. - The pre-tax profit for the construction services segment was HKD 2,681,000, while the trading and brokerage segment reported a loss of HKD 1,302,000[87]. - The total pre-tax loss for the unallocated segment was HKD 3,331,000, resulting in an overall pre-tax loss of HKD 1,952,000 for the group[87]. - Major customer I contributed HKD 95,943,000 to revenue, while major customer II contributed HKD 121,127,000, both significantly higher than previous year figures[119]. - Revenue contributions from two projects amounted to approximately HKD 136.0 million for the six months ended September 30, 2023, compared to HKD 9.5 million for the same period in 2022[132]. Cash Flow and Investments - The company reported a net cash inflow from operating activities of HKD 6,921,000, down from HKD 13,518,000, a decrease of approximately 48.9%[66]. - The company recorded a net increase in cash and cash equivalents of HKD 10,443,000 compared to HKD 7,234,000 in the previous period, an increase of about 44.5%[66]. - The cash balance in trust and independent accounts decreased to HKD 25,968,000 as of September 30, 2023, from HKD 52,219,000 as of March 31, 2023, a decline of approximately 50%[187]. - The company has not purchased, sold, or redeemed any of its listed securities during the reporting period[33]. - The company did not hold any significant investments or capital asset plans during the reporting period[10]. - The company has not reported any significant contingent liabilities as of September 30, 2023[146]. Share Options and Capital - As of September 30, 2023, the company had no share options granted, exercised, cancelled, or lapsed under the share option scheme[39]. - The company aims to attract and retain top talent through its share option scheme, which is set to expire on June 7, 2029, unless terminated earlier by shareholders[35]. - The company’s issued and fully paid share capital remained at 1,000,000,000 shares, valued at HKD 10,000,000 as of September 30, 2023[197]. - The stock option plan aims to incentivize qualified participants contributing to the group's successful operation[200]. - The plan is effective from June 8, 2019, and will last for 10 years unless canceled or amended[200]. - The maximum number of unexercised shares that can be granted under the plan is equivalent to 10% of the company's issued share capital at the time of listing, totaling 100,000,000 shares[200]. Other Financial Metrics - The company recognized government grants totaling HKD 192,000, a decrease from HKD 3,929,000 in the prior year[121]. - Interest income decreased to HKD 177,000 from HKD 4,000 year-over-year[121]. - The company reported an unrealized loss of HKD 2,472,000 on financial assets measured at fair value through profit or loss, compared to HKD 6,456,000 in the previous year[125]. - The income tax expense for the reporting period was approximately HKD 0.4 million, compared to no income tax expense for the same period in 2022[142]. - Other income and gains decreased from approximately HKD 4.1 million for the six months ended September 30, 2022, to approximately HKD 3.0 million for the same period in 2023, a decline of about 28%[137]. - Administrative expenses increased from approximately HKD 10.0 million for the six months ended September 30, 2022, to approximately HKD 11.1 million for the same period in 2023[138].

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。 Silver Tide Holdings Limited 銀 濤 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：1943） 截至二零二三年九月三十日止六個月 中期業績公告 銀濤控股有限公司（「本公司」）董事（「董事」）會（「董事會」）謹此提呈本公司及其 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之未經審核簡明綜 合中期業績連同二零二二年比較數字如下： 簡明綜合損益及其他全面收益表 截至二零二三年九月三十日止六個月 二零二三年 二零二二年 （未經審核）（未經審核） 附註 千港元 千港元 收益 6 254,563 102,818 銷售成本 (239,181) (97,603) 毛利 15,382 5,215 其他收入及收益 6 2,980 4,137 行政開支 (11,123) (10,042) ...

Financial Performance - For the fiscal year 2022/2023, Silver Tide Holdings Limited reported revenue of approximately HKD 372.1 million, an increase of about 9.4% compared to HKD 340.1 million in the fiscal year 2021/2022[16]. - The profit attributable to equity holders of the parent for the fiscal year 2022/2023 was approximately HKD 5.0 million, a significant recovery from a loss of approximately HKD 33.8 million in the previous fiscal year[17]. - Gross profit for the fiscal year 2022/2023 was approximately HKD 41.5 million, compared to a gross loss of approximately HKD 20.8 million in the fiscal year 2021/2022, primarily due to improved workflow efficiency and project completion certifications[19]. - Other income and gains increased from approximately HKD 3.1 million in the fiscal year 2021/2022 to approximately HKD 13.0 million in the fiscal year 2022/2023, representing a growth of approximately 325.2%[25]. - The revenue for the fiscal year 2022/23 was approximately HKD 372.1 million, an increase of about HKD 32.0 million or 9.4% compared to HKD 340.1 million for the fiscal year 2021/22[40]. - The gross profit for the fiscal year 2022/23 was approximately HKD 41.5 million, compared to a gross loss of approximately HKD 20.8 million for the fiscal year 2021/22[35]. - The basic earnings per share for the fiscal year 2022/23 was approximately HKD 0.5 cents, while for the fiscal year 2021/22, it was a basic loss of approximately HKD 3.4 cents[36]. - The income tax expense for the fiscal year 2022/23 was approximately HKD 6.6 million, compared to a tax credit of approximately HKD 5.4 million for the fiscal year 2021/22[44]. - The gross profit margin improved to 11.1% in the fiscal year 2022/23, compared to a gross loss margin of (6.1%) in the previous fiscal year[67]. - Other losses for the fiscal year 2022/23 amounted to approximately HKD 15.0 million, an increase from HKD 3.2 million in the fiscal year 2021/22, primarily due to unrealized and realized losses on financial assets[70]. Project and Operational Updates - As of March 31, 2023, the company had 8 projects under construction with a total original contract value of approximately HKD 666.4 million[22]. - The company is positioned to capitalize on new opportunities arising from government initiatives to increase land supply and develop resources[21]. - The management is optimistic about future growth prospects and plans to undertake new projects in the coming years[21]. - The company has implemented measures to accelerate project progress, including hiring additional personnel and subcontracting parts of construction projects[103]. - The group is addressing labor shortages and aging issues in the construction industry by maintaining good relationships with labor and subcontractors, ensuring sufficient workforce availability[105]. - The group has a list of approved subcontractors that is regularly reviewed and updated to ensure adequate labor supply[105]. Financial Position - As of March 31, 2023, cash and cash equivalents amounted to approximately HKD 52.2 million, up from approximately HKD 31.0 million as of March 31, 2022[47]. - The net current assets as of March 31, 2023, were approximately HKD 202.7 million, compared to approximately HKD 188.4 million as of March 31, 2022[47]. - The company has no significant contingent liabilities as of March 31, 2023[48]. - The group has approximately HKD 206.1 million available for distribution as of March 31, 2023[163]. Governance and Compliance - The company has adopted the principles and code provisions of the Corporate Governance Code as set out in Appendix 14 of the Listing Rules[182]. - The board of directors has undergone changes, with new appointments and resignations noted during the fiscal year[164]. - The group has complied with all relevant laws and regulations that significantly impact its business operations during the fiscal year 2022/23[133]. - There were no significant violations or non-compliance with applicable laws and regulations during the fiscal year 2022/23[133]. - The group has not engaged in any related party transactions that require disclosure under the listing rules during the fiscal year 2022/23[166]. Market and Strategic Outlook - The board believes that the overall outlook for the formwork engineering industry and the business environment remains positive, with emerging opportunities for new projects[21]. - The company is actively seeking additional trading and brokerage service opportunities in Hong Kong to further diversify its revenue base[66]. - The group plans to increase participation in the private sector projects in addition to public sector projects to mitigate risks associated with delays in government funding approvals[159]. - The group anticipates potential adverse effects on the construction industry due to changes in government policy, financial crises, or unforeseen natural disasters[159]. Shareholder Information - The company does not propose any final dividend for the fiscal year 2022/2023[18]. - The board has proposed not to declare any final dividend for the fiscal year 2022/23, consistent with the previous fiscal year[47]. - The company has a share option plan that allows for the issuance of options equivalent to a maximum of 10% of the issued share capital at the time of listing, which amounts to 100,000,000 shares[189]. - As of March 31, 2023, Central Force and its concert parties held interests in 750,000,000 shares, representing approximately 75.00% of the company's total issued share capital[193]. - In the fiscal year 2022/23, the top five customers represented about 96.9% of total revenue, with the largest single customer accounting for 63.0%[198].

Financial Performance - The company's revenue for the year ended March 31, 2023, was HKD 372,086,000, an increase of 9.4% compared to HKD 340,084,000 in the previous year[2] - Gross profit for the year was HKD 41,450,000, compared to a gross loss of HKD 20,843,000 in the previous year, indicating a significant turnaround[2] - The net profit attributable to equity holders of the parent was HKD 4,967,000, a recovery from a net loss of HKD 33,844,000 in the previous year[2] - The company reported a loss before tax of HKD 11,576,000, a significant improvement from a loss of HKD 39,219,000 in the previous year[2] - The basic and diluted earnings per share for the year was HKD 0.5 cents, recovering from a loss of HKD 3.4 cents per share in the previous year[2] - For the fiscal year ending March 31, 2023, the group diversified its business to include trading and brokerage services, establishing two reportable segments: i) Construction Services and ii) Trading and Brokerage[44] - The profit before tax for the construction services segment was HKD 32,966,000, while the trading and brokerage segment reported a loss of HKD 1,233,000[111] Assets and Liabilities - The company's total assets increased to HKD 307,863,000 from HKD 282,724,000, reflecting a growth of 8.9%[20] - Current assets rose to HKD 293,969,000, up from HKD 256,759,000, marking a 14.5% increase[3] - Current liabilities increased to HKD 91,237,000 from HKD 68,408,000, representing a rise of 33.3%[3] - The company's net current assets improved to HKD 202,732,000, compared to HKD 188,351,000 in the previous year, showing a growth of 7.6%[3] - The total equity attributable to equity holders of the parent increased to HKD 216,109,000 from HKD 211,142,000, a rise of 2.3%[3] - The total liabilities rose to HKD 91,754,000 in 2023 from HKD 71,582,000 in 2022, indicating an increase of about 28.1%[48] Revenue Segments - Revenue from Construction Services in the private sector was HKD 346,440,000 in 2023, up from HKD 315,487,000 in 2022, reflecting a growth of approximately 9.8%[53] - Revenue from Trading and Brokerage services increased significantly, with brokerage commissions rising to HKD 1,657,000 in 2023 from HKD 617,000 in 2022, a growth of about 168.4%[53] - The construction services segment generated revenue of HKD 370,321,000, while the trading and brokerage segment contributed HKD 1,765,000[111] Expenses and Costs - The cost of goods sold for the year was 78,214 thousand HKD, an increase from 57,987 thousand HKD in the previous year, indicating rising operational costs[33] - Administrative expenses rose from approximately HKD 18.1 million in the fiscal year 2021/2022 to approximately HKD 27.7 million in the fiscal year 2022/2023, an increase of about 53.4%[146] - The company reported a total financing cost of 163 thousand HKD, slightly down from 121 thousand HKD in the previous year[32] Cash Flow and Investments - As of March 31, 2023, the group's cash and cash equivalents amounted to approximately HKD 52.2 million, an increase from approximately HKD 31.0 million as of March 31, 2022[166] - The group acquired properties, plants, and equipment costing HKD 6,962,000 in 2023, compared to HKD 2,804,000 in 2022, marking an increase of about 148.5%[73] - The group had no capital commitments for the acquisition of properties, plants, and equipment as of March 31, 2023, compared to approximately HKD 4.7 million as of March 31, 2022[152] Government Grants and Other Income - Government grants received amounted to (11,176) thousand HKD, a significant decrease compared to previous periods[23] - The group’s income from government grants surged to HKD 11,176,000 in 2023 from HKD 561,000 in 2022, an increase of approximately 1,887.2%[53] - Other income increased from approximately HKD 3.1 million in the fiscal year 2021/2022 to approximately HKD 13.0 million in the fiscal year 2022/2023, representing a growth of about 325.2%[146] Future Outlook and Business Strategy - The company plans to continue expanding its construction services and trading and brokerage operations in Hong Kong[29] - The company expects to continue strict cost control measures and improve workflow efficiency in ongoing projects to enhance project management effectiveness[142] - The company is exploring additional business opportunities in Hong Kong to further broaden its revenue base[143] - The group is optimistic about the future outlook of the template engineering industry and believes it can seize emerging opportunities for business development[162] Corporate Governance and Compliance - The company has complied with the corporate governance code throughout the fiscal year 2022/23 and up to the date of this announcement, except for a deviation regarding the separation of the roles of Chairman and CEO[174] - The audit committee held two meetings during the fiscal year 2022/23 to review the audited consolidated financial statements and the unaudited interim financial statements[177] - The audit committee is responsible for reviewing and supervising the financial reporting process, internal controls, and risk management systems[193] Shareholder Information - The group did not declare or propose any dividends to ordinary shareholders for the fiscal years ending March 31, 2023, and 2022[72] - The board has proposed not to declare any final dividend for the fiscal year 2022/23, similar to the previous fiscal year[161] - Central Force holds an interest in 750,000,000 shares, accounting for approximately 75.00% of the total issued share capital of the company following the offer period[189]