Financial Performance - The group's revenue for the six months ended September 30, 2020, was approximately HKD 104.5 million, a decrease of about HKD 31.5 million or 23.2% compared to HKD 136 million for the same period in 2019[5][11] - The net loss attributable to the company's owners was approximately HKD 10.2 million, compared to a profit of HKD 0.2 million for the same period in 2019[5][13] - The basic and diluted loss per share was approximately HKD 1.26, compared to earnings of HKD 0.03 per share for the same period in 2019[5] - The gross loss for the period was HKD 11,828,000, compared to a gross profit of HKD 10,713,000 in the previous year[23] - The net loss attributable to the owners of the company for the period was HKD 10,174,000, compared to a profit of HKD 249,000 in the same period last year[23] - The group reported a pre-tax loss of HKD (10,973) thousand for the six months ended September 30, 2020, compared to a pre-tax loss of HKD (584) thousand in the same period of 2019[36] Revenue Breakdown - The construction and site preparation services segment generated revenue of approximately HKD 84.1 million, a decrease of about HKD 51.9 million compared to the same period in 2019[7] - The group engaged in the trading of liquefied natural gas, generating revenue of approximately HKD 20.4 million during the reporting period, with expectations for increased revenue in winter[10] - Revenue from the sale of liquefied natural gas was HKD 20,363 thousand for the six months ended September 30, 2020, with no revenue reported in the same period of 2019[33] - Total revenue from construction contracts decreased to HKD 84,113 thousand in 2020 from HKD 136,044 thousand in 2019, representing a decline of approximately 38.2%[33] - The total revenue for the six months ended September 30, 2020, was HKD 104,476 thousand, down from HKD 136,044 thousand in 2019, indicating a decrease of about 23.2%[34] Expenses and Costs - The group's administrative expenses decreased by approximately HKD 4.1 million or 35.3% to approximately HKD 7.5 million compared to HKD 11.6 million in the same period in 2019[13] - The total administrative expenses were approximately HKD 7,466,000, down from HKD 11,558,000 in the prior year, indicating a reduction of 35.5%[23] - The group incurred financing costs of HKD 10 thousand for lease liabilities in the six months ended September 30, 2020, compared to HKD 625 thousand in 2019, indicating a reduction in financing costs[38] - Total employee costs increased to HKD 42,567,000 in 2020 from HKD 37,229,000 in 2019, representing a growth of approximately 14.5%[41] - The company reported a decrease in short-term benefits from HKD 3,175,000 in 2019 to HKD 2,687,000 in 2020, representing a decline of approximately 15.3%[53] Project and Contract Information - The group completed four projects during the reporting period, with a total contract value of approximately HKD 23.8 million, compared to two new projects with a total contract value of approximately HKD 50.3 million in the same period in 2019[7] - As of September 30, 2020, the group had ten projects on hand with a total contract value of HKD 504.1 million, compared to six projects with a remaining total contract value of HKD 166.2 million as of September 30, 2019[8] - The company reported contract assets of HKD 44,699,000 as of September 30, 2020, down from HKD 56,475,000 at the end of March 2020[45] Cash and Liquidity - As of September 30, 2020, the group's bank balance was approximately HKD 10,400,000, a significant decrease from HKD 27,600,000 as of March 31, 2020[15] - The cash and cash equivalents at the end of the period were HKD 10,400 thousand, down from HKD 14,261 thousand at the end of September 2019, reflecting a decrease of approximately 26.5%[12] - The net cash used in operating activities for the six months ended September 30, 2020, was HKD (15,894) thousand, an improvement from HKD (36,309) thousand in the same period of 2019[12] Other Income and Support - Other income for the reporting period was approximately HKD 8.3 million, an increase of about HKD 7.4 million or 822.2% compared to approximately HKD 0.9 million in the same period in 2019[12] - The group received HKD 7,896 thousand in employment support subsidies during the reporting period, which was not present in the previous year[37] Shareholder and Governance Information - The major shareholder, Jiebao Group Limited, holds 225,330,000 shares, representing 28% of the company's equity[60] - The company did not declare or pay any dividends during the interim period, consistent with the previous year[44] - The board has decided not to declare any interim dividends for the reporting period[61] - The company has adhered to all provisions of the corporate governance code during the reporting period[63] - The audit committee has reviewed and approved the unaudited interim results and financial statements[66] Employment and Staffing - The group employed 197 staff members as of September 30, 2020, down from 211 employees as of March 31, 2020[18] Asset and Liability Overview - The total assets as of September 30, 2020, were approximately HKD 84,234,000, compared to HKD 106,987,000 as of March 31, 2020[24] - The group reported a total equity of HKD 67,455,000 as of September 30, 2020, down from HKD 77,624,000 as of March 31, 2020[24] - Trade receivables rose to HKD 7,829,000 as of September 30, 2020, compared to HKD 4,368,000 at the end of March 2020, indicating a significant increase of approximately 79.5%[46] - Trade payables decreased to HKD 10,869,000 as of September 30, 2020, from HKD 16,363,000 at the end of March 2020, reflecting a decline of about 33.5%[47] - The company has no capital commitments or contingent liabilities as of September 30, 2020[20][21] Future Plans and Strategy - The company plans to continue focusing on land leveling projects in Hong Kong and LNG trading in China, while seeking new business opportunities to enhance revenue sources[14] - The company has no future plans for significant investments or capital assets[55] - There were no significant investments, acquisitions, or disposals during the reporting period[54]

Financial Performance - For the fiscal year ending March 31, 2020, the company reported revenue of HKD 251.76 million, an increase of approximately 76.2% compared to HKD 142.85 million in the previous year[9]. - The gross profit for the year was HKD 7.89 million, with a gross margin of 3.13%, a significant improvement from a gross loss of HKD 74.47 million and a gross margin of -52.13% in the previous year[10]. - The company reported a loss before tax of HKD 9.97 million, an improvement from a loss of HKD 88.82 million in the previous year[6]. - The total loss and comprehensive expenses for the year were approximately HKD 8.1 million, a reduction of about HKD 78.8 million or 90.7% compared to HKD 86.9 million in the previous year[25]. - The group's revenue for the reporting period was approximately HKD 251.8 million, an increase of about HKD 108.9 million or 76.2% compared to HKD 142.9 million in the previous year[22]. Project and Contract Management - The company secured five projects during the reporting period with a total contract value of HKD 146.6 million, compared to four projects worth HKD 98.1 million in the previous year[10]. - The group completed three projects during the reporting period, contributing revenue of approximately HKD 61.1 million, with total contract amounts for ongoing projects reaching approximately HKD 493.9 million[18]. - The group received five new projects with a total contract value of approximately HKD 146.6 million during the reporting period, compared to four projects valued at approximately HKD 98.1 million in the previous year[22]. - The group identified several risks that may impact its financial condition and operational performance, including potential discrepancies between project revenue and original contract amounts due to client changes[132]. - Errors in estimating project timelines and costs during the bidding process could result in significant losses for the group, as inaccuracies may lead to cost overruns and project delays[134]. Administrative and Operational Costs - Administrative expenses increased to HKD 18.24 million from HKD 14.17 million in the previous year, reflecting a rise in operational costs[6]. - Administrative expenses increased by approximately 28.2% to about HKD 18.2 million, consistent with the rise in revenue[24]. - The group employed 211 staff as of March 31, 2020, compared to 166 in 2019, with total employee costs around HKD 70,000,000, down from approximately HKD 86,200,000 in the previous year[32]. Corporate Governance - The company has adopted corporate governance policies in line with the Hong Kong Stock Exchange's guidelines[59]. - The company emphasizes the importance of high corporate governance standards to manage business risks and enhance transparency[59]. - The board consists of five directors, including two executive directors and three independent non-executive directors[61]. - The company provides appropriate liability insurance for directors and senior management, reviewed annually[65]. - The company encourages directors to participate in professional development courses related to corporate governance and compliance with listing rules[73]. Shareholder and Capital Management - The company completed the placement of 37,000,000 new shares, representing approximately 4.60% of the issued share capital post-placement, at a price of HKD 0.222 per share, raising net proceeds of approximately HKD 7,900,000 for general working capital and potential business opportunities[29][34]. - The major shareholder, China Century Holdings Limited, sold a total of 560,535,000 shares, equivalent to 28% of the company's issued share capital, to Jet Power Group Limited, making Jet Power the sole major shareholder[40]. - The company has maintained the minimum public float required by the listing rules during the reporting period[176]. Environmental Commitment - The company is committed to environmental sustainability by reducing electricity and water consumption and encouraging recycling of office supplies[124]. - The company has complied with all relevant laws and regulations affecting its business and operations during the reporting period[125]. - The company is committed to reducing its environmental impact by minimizing water and electricity usage and promoting the recycling of office supplies[181]. Audit and Compliance - The independent auditor's report confirmed that the consolidated financial statements fairly reflect the group's financial position as of March 31, 2020[184]. - The audit identified key audit matters, including the recognition of construction contract revenue and the estimation of expected credit losses, which are significant to the financial statements[186]. - The company has implemented internal controls related to the recognition of construction contract revenue, which were tested during the audit[189]. - The auditors aim to obtain reasonable assurance that the consolidated financial statements are free from material misstatement due to fraud or error[198]. - The company must evaluate its ability to continue as a going concern and disclose relevant matters if applicable[196].

Financial Performance - The group's revenue for the six months ended September 30, 2019, was approximately HKD 136,000,000, an increase of about 76.9% compared to HKD 76,900,000 for the same period in 2018[6]. - The profit attributable to owners of the company for the reporting period was approximately HKD 249,000, compared to a loss of HKD 8,000,000 for the same period in 2018[6]. - The basic and diluted earnings per share for the reporting period were approximately HKD 0.03, compared to a loss of HKD 1.05 per share for the same period in 2018[6]. - The gross profit for the same period was HKD 10,713,000, compared to a gross loss of HKD 3,348,000 in 2018, indicating a significant turnaround[23]. - The net profit for the period was HKD 249,000, a recovery from a net loss of HKD 8,041,000 in the previous year[23]. - Other income for the six months ended September 30, 2019, was HKD 886,000, significantly up from HKD 305,000 in 2018, marking an increase of about 190%[50]. - Financing costs decreased slightly to HKD 625,000 in 2019 from HKD 661,000 in 2018, a reduction of approximately 5.5%[51]. Project and Contract Information - The group completed one new project during the reporting period with a contract value of HKD 25,800,000, while the total contract value of projects on hand as of September 30, 2019, was HKD 432,700,000[8]. - The group secured two new projects in the outlying islands with a total contract value of approximately HKD 50,300,000 during the reporting period[8]. Financial Position - The company's total assets as of September 30, 2019, were HKD 131,663,000, up from HKD 73,370,000 as of March 31, 2019, reflecting a growth of 79.5%[24]. - The company's net asset value increased to HKD 86,018,000 as of September 30, 2019, compared to HKD 77,840,000 as of March 31, 2019[24]. - The company's debt-to-equity ratio increased to approximately 34.9% as of September 30, 2019, from zero on March 31, 2019, primarily due to secured loans of HKD 30,000,000[14]. - The company reported no significant contingent liabilities as of September 30, 2019, maintaining a stable financial position[21]. Cash Flow and Liquidity - The group had cash and cash equivalents of approximately HKD 14,300,000 as of September 30, 2019, up from HKD 13,000,000 as of March 31, 2019[13]. - Operating cash used in the first half of 2019 was HKD 36,309,000, compared to HKD 16,679,000 in the same period of 2018, indicating a significant increase in cash outflow[12]. - Net cash generated from investing activities was HKD 311,000, a recovery from a net cash outflow of HKD 3,567,000 in the first half of 2018[12]. - Cash and cash equivalents increased by HKD 1,264,000, compared to a decrease of HKD 29,034,000 in the same period of 2018, reflecting improved liquidity[12]. - The cash balance at the end of the reporting period was HKD 14,261,000, up from HKD 2,055,000 at the end of the same period in 2018[12]. Employee and Administrative Expenses - Employee costs for the period totaled approximately HKD 37,200,000, compared to HKD 31,500,000 for the same period in 2018, reflecting an increase of 18%[18]. - The company employed 162 staff as of September 30, 2019, a slight decrease from 166 employees as of March 31, 2019[18]. - Administrative expenses for the reporting period were approximately HKD 11,600,000, an increase of about 103.5% compared to HKD 5,700,000 for the same period in 2018[11]. Corporate Governance and Compliance - The board emphasizes the importance of high standards of corporate governance to manage business risks and enhance transparency[76]. - The audit committee has been established in accordance with the listing rules to facilitate communication between directors, external auditors, and management regarding financial reporting and internal controls[79]. - The company’s unaudited condensed consolidated interim results and financial statements were reviewed and approved by the audit committee[80]. Share Capital and Dividends - The company completed a placement of 37,000,000 shares at a price of HKD 0.222 per share, raising approximately HKD 7,900,000 for general working capital and potential business opportunities[15]. - The total issued and paid-up share capital increased to HKD 8,048,000 as of September 30, 2019, following a private placement of 37,000,000 shares[61]. - No dividends were declared or proposed during the reporting period, and none have been declared since the interim period end[56]. Future Outlook and Strategy - Management maintains a cautiously optimistic outlook for the construction market, anticipating stable long-term growth due to recent government housing policies[12]. - The group plans to enhance the efficiency of site formation works and project management skills while seeking potential business opportunities to broaden revenue sources[12].

Financial Performance - The company's revenue for the fiscal year ending March 31, 2019, was HKD 142.9 million, a decrease of approximately HKD 49.4 million or 25.7% compared to HKD 192.3 million in the previous year[11]. - The gross loss for the year was HKD 74.5 million, significantly impacted by increased costs associated with project delays and additional requirements from main contractors[11]. - The company reported a loss before tax of HKD 88.8 million, compared to a profit of HKD 10.9 million in the previous year[7]. - The total comprehensive loss for the year was HKD 86.9 million, a significant decline from a comprehensive income of approximately HKD 8.7 million in the previous year[25]. - The group recorded a net loss of HKD 86,892,000 and an operating cash outflow of HKD 26,634,000 for the year ended March 31, 2019[97]. - The group has experienced challenges due to adverse geological conditions and changes in client construction plans, which may continue to impact profitability[21]. - The group aims to widen its revenue sources and generate additional cash flow through potential business opportunities[101]. Assets and Liabilities - Total assets decreased to HKD 121.1 million from HKD 173.9 million in the previous year, indicating a decline in financial stability[7]. - The net asset value dropped to HKD 77.8 million from HKD 164.7 million, highlighting a significant reduction in equity[7]. - As of March 31, 2019, the group's bank balance was approximately HKD 13,000,000, a decrease from HKD 31,100,000 in 2018, primarily due to a net cash outflow of approximately HKD 18,100,000 from operating, investing, and financing activities[29]. - The group had no interest-bearing debt as of March 31, 2019, compared to approximately HKD 8,100,000 in 2018, resulting in a debt-to-equity ratio of zero[29]. - As of March 31, 2019, the group had cash and bank balances of approximately HKD 12,997,000, while trade and other payables amounted to approximately HKD 32,481,000[97]. Project and Contract Activity - The company secured four new projects during the year with a total contract value of approximately HKD 98.1 million, compared to one project valued at HKD 305.1 million in the previous year[11]. - As of March 31, 2019, the group had five ongoing projects with a total contract value of approximately HKD 408.2 million[19]. - The group received four new projects during the reporting period, with a total contract value of approximately HKD 98.1 million[23]. Administrative and Operational Costs - Administrative expenses increased to HKD 14.2 million from HKD 13.3 million in the previous year, reflecting higher operational costs[7]. - The total employee cost for the year was approximately HKD 86,200,000, an increase from HKD 68,100,000 in 2018, with 166 employees as of March 31, 2019[33]. Corporate Governance and Management - The company appointed Mr. Li Xiangzhong as the Chairman of the Board effective April 16, 2019, following the resignation of Mr. Zhang Chengzhou[45]. - The board currently consists of three Executive Directors, one Non-Executive Director, and three Independent Non-Executive Directors, ensuring fair representation of shareholders' interests[45]. - The company emphasizes the separation of roles between the Chairman and CEO, despite deviations from the corporate governance code[45]. - The board believes that having the same individual serve as both Chairman and CEO enhances operational efficiency and strategy execution[45]. - The company has adopted corporate governance policies in line with the Hong Kong Stock Exchange's guidelines to enhance transparency and accountability[57]. Risk Management and Internal Controls - The board is responsible for overseeing risk management and internal controls within the company[61]. - The group has established a risk management framework to ensure effective monitoring of risks across its various business units[106]. - The board regularly reviews the effectiveness of the risk management and internal control systems[104]. - The audit committee acknowledged the auditor's disclaimer regarding the group's ability to continue as a going concern[99]. Shareholder and Investor Relations - The company emphasizes high levels of disclosure and financial transparency to shareholders and investors through interim and annual reports[114]. - The board of directors is committed to effective communication with shareholders, encouraging attendance at annual general meetings[114]. - The company has established a website that provides extensive information, including financial data and corporate governance updates for public investors[115]. Environmental and Social Responsibility - The company is committed to environmental sustainability through energy and water conservation efforts[129]. - The company will publish its environmental, social, and governance report in accordance with listing rules[130]. - The group made charitable donations totaling HKD 1,000 during the reporting period, a decrease from HKD 17,000 in the previous year[142]. Future Outlook - The company anticipates a challenging market environment due to increased competition and smaller project sizes[11]. - Future outlook remains optimistic as the company aims to maintain professional standards and adapt to industry trends[11].