每经记者｜肖芮冬 每经编辑｜赵云 银行股无一下跌，银行ETF创历史新高 同花顺数据显示，今日银行板块平开高走，收涨1.32%，在所有板块中排第三。42只成分股无一下跌， 建设银行盘中创下9.33元的股价历史新高。此外，电力、公路运输等板块也表现活跃。 受上述现象影响，一方面，红利指数逆势上涨，沪指在三大指数中最为抗跌。 5 月 9 日，市场全天震荡调整，创业板指领跌。截至收盘，沪指跌 0.3% ，深成指跌 0.69% ，创业板指跌 0.87% 。 板块方面，纺织、美容护理、银行、 ST 等板块涨幅居前，半导体、影视、智谱 AI 、脑机接口等板块跌幅 居前。 个股跌多涨少，全市场超 4000 只个股下跌。沪深两市全天成交额 1.19 万亿元，较上个交易日缩量 1014 亿。 5月首周行情已经落幕。 虽然今天个股跌多涨少，主要股指表现不佳，但周线、月线来看，得益于周一的普涨，大盘目前仍 是"开门红"的状态（下图为万得全A的周K线）。 具体到盘面，此前有不少机构判断，短期内将是"大盘震荡，红利、消费、科技三者轮动"。 而今天，就轮到了红利资产与部分消费题材走强，科技成长风格走弱。 | 代码 | 名称 | 涨跌幅 | ...

Financial Performance - The group's revenue increased by approximately HKD 89.0 million or about 16.0% to approximately HKD 644.5 million for the six months ended September 30, 2024, compared to HKD 555.5 million for the same period in 2023[13]. - Gross profit decreased by approximately HKD 36.6 million or about 75.9% to approximately HKD 11.6 million, with the gross profit margin dropping from approximately 8.7% to about 1.8%[15]. - The total comprehensive income for the six months ended September 30, 2024, was approximately HKD 2.4 million, representing a decrease of about 86.4% from approximately HKD 17.6 million for the same period in 2023[19]. - The net profit for the period was HKD 2,350,000, a decline of 87% from HKD 17,633,000 in the prior year[76]. - Basic earnings per share decreased to HKD 0.15 from HKD 1.13, representing a drop of approximately 87%[76]. - The company reported a decrease in trade receivables to HKD 41,753,000 from HKD 95,270,000, a decline of about 56%[78]. - Profit before tax for the six months ending September 30, 2024, is reported at HKD 2,350,000, compared to HKD 17,633,000 for the same period in 2023, indicating a significant decrease[110]. Assets and Liabilities - Total assets as of September 30, 2024, were HKD 625,681,000, down from HKD 647,622,000 as of March 31, 2024[78]. - Current liabilities decreased to HKD 306,425,000 from HKD 330,456,000, indicating a reduction of about 7%[78]. - The company’s total equity increased to HKD 317,457,000 from HKD 315,031,000, showing a slight growth of approximately 1%[80]. - Trade payables as of September 30, 2024, were HKD 31,097,000, down from HKD 75,829,000 as of March 31, 2024, indicating a reduction of approximately 59%[134]. - The group's accrued expenses and other payables totaled HKD 63,778,000 as of September 30, 2024, compared to HKD 97,343,000 as of March 31, 2024, reflecting a decrease of around 34%[134]. - The group’s contract liabilities increased to HKD 116,363,000 as of September 30, 2024, from HKD 73,984,000 as of March 31, 2024[125]. Cash Flow - The net cash generated from operating activities for the six months ended September 30, 2024, was HKD 34,614,000, compared to HKD 22,848,000 for the same period in 2023, representing a 51.5% increase[88]. - The net cash used in investing activities for the six months ended September 30, 2024, was HKD 5,483,000, a decrease from cash generated of HKD 3,172,000 in 2023[88]. - The net cash used in financing activities for the six months ended September 30, 2024, was HKD 2,207,000, compared to HKD 14,782,000 in 2023, reflecting a reduction of 85.1%[88]. - The net increase in cash and cash equivalents for the six months ended September 30, 2024, was HKD 26,924,000, compared to HKD 11,238,000 in 2023, marking a 139.5% increase[88]. - Cash and cash equivalents increased to HKD 156,505,000 from HKD 131,386,000, reflecting a growth of approximately 19%[78]. Employee and Administrative Costs - Administrative and other operating expenses increased by approximately HKD 1.5 million to approximately HKD 15.9 million, primarily due to increased employee costs[17]. - The total employee cost for the six months ended September 30, 2024, was approximately HKD 111.9 million, compared to HKD 93.7 million for the same period in 2023, reflecting a significant increase[35]. - The group had 461 employees as of September 30, 2024, an increase from 400 employees as of September 30, 2023[35]. - For the six months ended September 30, 2024, the total compensation for key management personnel was HKD 6,300,000, a decrease of 37.5% compared to HKD 10,160,000 for the same period in 2023[150]. Investments and Financial Resources - The group confirmed that it has sufficient financial resources to meet its obligations in the foreseeable future[22]. - The group had no significant investments or acquisitions planned as of September 30, 2024[26]. - The group invested approximately HKD 10,127,000 in property, plant, and equipment, an increase from HKD 4,651,000 in the same period last year[116]. - The group had no capital expenditures contracted but not provided for in the financial statements as of September 30, 2024, compared to HKD 3,337,000 as of March 31, 2024[141]. Corporate Governance - The company has fully complied with the corporate governance code as of September 30, 2024[70]. - The audit committee was established on September 21, 2020, and is chaired by an independent non-executive director[71]. - The company has appointed an external service provider for company secretary services, ensuring compliance with corporate governance standards[70]. Share Incentive Plans - The stock option plan was conditionally adopted on September 21, 2020, aimed at attracting and retaining qualified personnel[50]. - The total number of stock options that can be granted under the stock option plan is 160,000,000 as of April 1, 2024, and no options were granted, exercised, or canceled in the six months ending September 30, 2024[56]. - The share award plan was conditionally adopted on November 22, 2021, to recognize employee contributions and attract suitable talent for further development[57]. - The share incentive plan commenced on November 22, 2021, and has approximately seven years remaining until termination[59]. - The maximum number of shares that can be awarded under the share incentive plan is capped at 1% of the company's issued shares, with the board unable to exceed 10% of the issued shares for any awards[60]. - The total number of shares authorized for award under the share incentive plan as of April 1, 2024, and September 30, 2024, is 151,440,000 shares each[62]. - The number of unexercised share options under the share incentive plan decreased to 1,112,000 as of September 30, 2024, from 2,058,000 as of September 30, 2023[140]. - No shares were purchased under the share incentive plan during the six months ended September 30, 2024, and no awards were granted[62]. Market and Industry Outlook - The construction industry in Hong Kong is showing signs of recovery, with overall demand for construction projects increasing compared to the previous year[12]. - The group will continue to implement effective cost control measures in response to the challenging business environment and rising construction costs[12].

Financial Performance - Revenue for the six months ended September 30, 2024, was HKD 644,489,000, an increase of 16% compared to HKD 555,510,000 for the same period in 2023[19] - Gross profit decreased to HKD 11,596,000 from HKD 48,248,000, reflecting a significant decline in profitability[1] - Profit before tax decreased to HKD 4,418,000 from HKD 23,156,000, showing a decline of approximately 81% year-on-year[1] - Net profit for the period was HKD 2,350,000, down from HKD 17,633,000, representing an 87% decrease[1] - Basic earnings per share were HKD 0.15, a significant drop from HKD 1.13 in the same period last year[1] - The total comprehensive income for the six months ended September 30, 2024, was approximately HKD 2.4 million, representing a decrease of about 86.4% compared to HKD 17.6 million for the same period in 2023[52] Income and Expenses - Other income for the period was HKD 9,180,000, compared to a loss of HKD 10,020,000 in the previous year, indicating a recovery in this area[20] - Employee costs for the six months ended September 30, 2024, totaled approximately HKD 111.9 million, an increase from approximately HKD 93.7 million for the same period in 2023[59] - The company reported a depreciation expense of 5,446 thousand HKD for property, plant, and equipment for the six months ended September 30, 2024, compared to 5,604 thousand HKD for the same period in 2023[24] Assets and Liabilities - Total assets as of September 30, 2024, were HKD 625,681,000, down from HKD 647,622,000 as of March 31, 2024[10] - Current liabilities decreased to HKD 306,425,000 from HKD 330,456,000, indicating improved liquidity management[8] - Trade receivables as of September 30, 2024, amounted to 42,766 thousand HKD, significantly down from 96,283 thousand HKD as of March 31, 2024[30] - The company’s contract assets, net of loss allowance, were 335,481 thousand HKD as of September 30, 2024, slightly down from 336,169 thousand HKD as of March 31, 2024[33] - Contract liabilities increased to 116,363 thousand HKD as of September 30, 2024, compared to 73,984 thousand HKD as of March 31, 2024[33] - The group’s current assets net value was approximately HKD 296.6 million, with bank balances and cash amounting to approximately HKD 156.5 million as of September 30, 2024[54] - The group’s total liabilities, including interest-bearing bank overdrafts, were approximately HKD 20.2 million as of September 30, 2024[56] Corporate Governance - The company did not declare an interim dividend for the six months ended September 30, 2024, compared to no dividend declared for the same period in 2023[28] - The company has adopted the corporate governance code and has fully complied with it during the six months ending September 30, 2024[63] - All directors have fully complied with the standards set out in the code of conduct for securities transactions as of September 30, 2024[62] - The audit committee, established on September 21, 2020, consists of independent non-executive directors and has reviewed the financial statements for the six months ending September 30, 2024[66] - The unaudited condensed consolidated financial statements for the six months ending September 30, 2024, were reviewed by the audit committee and deemed to comply with applicable accounting standards[66] Business Operations - The company continues to focus on construction contracts, with all revenue generated from external clients in Hong Kong[19] - The company’s expected revenue from construction services recognized during the six months ended September 30, 2024, was approximately 55,894 thousand HKD, down from 101,734 thousand HKD as of March 31, 2024[38] - As of September 30, 2024, the group had 27 construction projects with a total uncompleted contract value of approximately HKD 1,871.0 million[44] - The group plans to continue focusing on project progress and effective cost control measures in response to the challenging business environment[45] Financial Transactions - The company did not purchase, sell, or redeem any of its listed securities during the six months ending September 30, 2024[61] - The group’s trade payables decreased from approximately HKD 75.8 million as of March 31, 2024, to approximately HKD 31.1 million as of September 30, 2024[39] - The group’s accrued expenses and other payables decreased from approximately HKD 97.3 million to approximately HKD 63.8 million during the same period[39]

Employee and Workforce - The total number of employees increased to 412 as of March 31, 2024, compared to 356 employees as of March 31, 2023, reflecting a growth of approximately 15.7%[11] - The total employee cost for the year ended March 31, 2024, was approximately HKD 214.4 million, up from approximately HKD 180.5 million for the year ended March 31, 2023, indicating an increase of about 18.7%[11] - The company has implemented a share option scheme to attract and retain qualified personnel and incentivize performance[51] - The share award plan was conditionally adopted on November 22, 2021, to recognize employee contributions and attract suitable talent for further development[62] - The total number of unvested shares under the share award plan as of March 31, 2024, is 1,946,000[67] - The group maintains good relationships with employees, customers, suppliers, and subcontractors, with no significant disputes reported as of March 31, 2024[173] - The group has implemented policies to ensure competitive compensation and benefits for employees, contributing to operational success[173] Financial Performance - For the fiscal year ending March 31, 2024, the group recorded total revenue of approximately HKD 1,366.9 million, an increase of about 42.9% compared to HKD 956.5 million for the fiscal year ending March 31, 2023[56] - The group's gross profit increased by approximately 13.3% to about HKD 81.1 million, compared to approximately HKD 71.6 million for the previous fiscal year[56] - The group recorded a net profit of approximately HKD 26.1 million, a decrease of about 20.4% from HKD 32.8 million for the fiscal year ending March 31, 2023[56] - The company's profit for the year decreased by approximately HKD 6.7 million or 20.4% to about HKD 26.1 million for the year ending March 31, 2024, compared to approximately HKD 32.8 million for the year ending March 31, 2023[114] - The net profit margin for the years ending March 31, 2024, and March 31, 2023, was approximately 1.9% and 3.4%, respectively[114] Dividend Policy - The board of directors did not recommend any final dividend for the year ended March 31, 2024, consistent with the previous year[10] - The company has adopted a general dividend policy, which considers various factors including actual and expected financial performance and operational funding requirements[24] - The board considers the overall business conditions and strategies when making decisions regarding dividend payments and financial performance[27] - The company has the discretion to review and amend its dividend policy at any time, and there is no legal obligation to pay dividends at any specific amount[35] - The board does not recommend the payment of any final dividend for the fiscal year ending March 31, 2024, consistent with no final dividend declared for the previous year[37] Business Operations - The company operates in a single business segment, providing construction engineering services, with no geographical segment information presented as of March 31, 2024[8] - The company continues to focus on civil engineering projects, which include road and drainage works as well as site formation works, with no significant changes in business nature during the year[23] - The largest customer accounted for approximately 39.0% of total revenue for the year ended March 31, 2024, compared to 35.9% for the previous year[81] - The group has not made any significant investments or acquisitions in subsidiaries, associates, or joint ventures as of March 31, 2024[158] - The group continues to maintain a strong and prudent cash management policy to seize future growth opportunities[160] Risk Management and Compliance - The board is aware of several risks and uncertainties that may affect the company's operations, although specific risks were not detailed in the report[12] - The company has complied with relevant laws and regulations, with no significant violations reported for the year ending March 31, 2024[147] - The independent auditor for the financial statements for the year ending March 31, 2024, was Guo Wei CPA Limited, with a resolution to reappoint them at the upcoming annual general meeting[146] - The board of directors has confirmed the independence of all independent non-executive directors[145] Capital Structure and Financial Position - As of March 31, 2024, the total equity attributable to the owners of the company was approximately HKD 315.0 million, an increase from HKD 288.7 million as of March 31, 2023[139] - The total debt of the group, including interest-bearing bank loans and overdrafts, was approximately HKD 19.6 million, down from HKD 28.0 million as of March 31, 2023[139] - The group's debt-to-equity ratio as of March 31, 2024, was approximately 6.2%, a decrease from 9.7% as of March 31, 2023[162] - The company confirmed that it has sufficient financial resources to meet its obligations in the foreseeable future[139] - There were no significant contingent liabilities as of March 31, 2024, consistent with the previous year[141] Corporate Governance - The board of directors has ensured compliance with the corporate governance code and has maintained a high level of corporate governance practices as of the report date[176] - The independent non-executive directors constitute more than one-third of the board, ensuring a balance of experience and skills relevant to the group's operations[194] - The group has purchased liability insurance for directors and senior management to cover potential legal liabilities arising from their duties[192]

8 12. 貿易及其他應付款項 10 所得稅開支 資本開支 以下為合約資產及合約負債之分析： 13. 於二零二四年三月三十一日，本集團手頭上有27個建築項目，總未完成合約價值 約1,343.0百萬港元。於二零二三年三月三十一日，本集團手頭上有31個建築項目， 總未完成合約價值約1,657.0百萬港元。鑒於手頭項目，預計未來幾年建造工程的業 績將保持穩定。 於二零二四年三月三十一日，本集團擁有流動資產淨值約297.8百萬港元（二零 二三年三月三十一日：約264.1百萬港元）以及銀行結餘及現金約131.4百萬港元（二 零二三年三月三十一日：約160.1百萬港元），均以港元計值。 於二零二四年三月三十一日，本集團並無任何抵押予銀行以擔保本集團若干銀行 融資的銀行存款（二零二三年三月三十一日：約3.4百萬港元）。 庫務政策 除上文所披露者外，董事會並不知悉任何其他於二零二四年三月三十一日後及直 至本公告日期進行而須作出披露的重大事項。 末期業績 綜合財務狀況表 2 權益總額 315,031 288,661 1. 一般資料及編製基準 綜合財務報表之編製基準 綜上所述，年內溢利由截至二零二三年三月三十一日止年度的約32. ...

（於開曼群島註冊成立的有限公司） 股份代號: 2132 譽燊豐控股有限公司 公司資料 薪酬委員會 國衛會計師事務所有限公司 執業會計師 香港 中環 畢打街11號 置地廣場 告羅士打大廈 31樓 富比資本有限公司 香港 灣仔 駱克道188號 兆安中心 26樓 公司資料 | --- | |---------------------------------| | | | 開曼群島註冊辦事處 | | Windward 3, Regatta Office Park | | PO Box 1350 | | Grand Cayman KY1-1108 | | | 開曼群島主要股份過戶登記處 卓佳證券登記有限公司 香港 夏愨道16號 遠東金融中心17樓 | --- | --- | |------------------------|--------------------------| | | | | 香港總部及主要營業地點 | 交通銀行（香港）有限公司 | | | 星展銀行（香港）有限公司 | | 香港 | 渣打銀行 | | 新界 | | | 荃灣 | 公司網站 | | 沙咀道 6 號 | | | 嘉達環球中心 | www ...

香港交易及結算所有限公司及香港聯合交易所有限公司（「聯交所」）對本公告之 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 公告全部或任何部份內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 LANDRICH HOLDING LIMITED 譽燊豐控股有限公司 （於開曼群島註冊成立之有限公司） （股份代號：2132） 截至二零二三年九月三十日止六個月之 中期業績公告 業績 譽燊豐控股有限公司（「本公司」）董事（「董事」）會（「董事會」）宣佈本公司及其附 屬公司（統稱為「本集團」）截至二零二三年九月三十日止六個月之未經審核中期 業績，連同去年同期之比較數字如下： 未經審核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 截至九月三十日止六個月 附註 二零二三年 二零二二年 千港元 千港元 （未經審核） （未經審核） 收益 3 555,510 439,746 直接成本 (507,26 2) (407,10 2) ...

Financial Performance - For the fiscal year ending March 31, 2023, the company reported total revenue of approximately HKD 956.5 million, a decrease of about 3.8% compared to HKD 994.2 million for the previous year[23]. - Gross profit decreased by approximately 17.5% to about HKD 71.6 million from HKD 86.8 million, primarily due to a reduction in project volume and an increase in lower-margin projects[23]. - Net profit for the year was approximately HKD 32.8 million, down about 20.4% from HKD 41.2 million in the previous year, resulting in a net profit margin of approximately 3.4% compared to 4.1%[34]. - The company experienced a decrease in direct costs, which fell by about 2.5% to approximately HKD 884.9 million from HKD 907.5 million[32]. - Other income increased significantly to approximately HKD 7.7 million from HKD 0.9 million, mainly due to a one-time subsidy received from the Hong Kong government[33]. - Administrative and other operating expenses rose by approximately 2.6% to about HKD 39.2 million from HKD 38.2 million, driven by increased administrative staff costs[33]. Assets and Liabilities - As of March 31, 2023, the company had net current assets of approximately HKD 264.1 million, an increase from HKD 231.3 million the previous year[35]. - The group's debt-to-equity ratio as of March 31, 2023, was approximately 9.7%, down from 10.7% as of March 31, 2022[40]. - The total equity attributable to the owners of the company was approximately HKD 288.7 million as of March 31, 2023, compared to approximately HKD 260.2 million as of March 31, 2022[52]. - The group has no significant contingent liabilities as of March 31, 2023, and had pledged bank deposits of approximately HKD 3.4 million to secure certain bank financing[54]. Project and Market Outlook - As of March 31, 2023, the group had 31 construction projects with a total uncompleted contract value of approximately HKD 1,657.0 million, compared to 30 projects valued at approximately HKD 2,004.5 million as of March 31, 2022[47]. - The group anticipates that future construction performance will remain stable due to ongoing projects and the expected demand for construction in Hong Kong[44]. - The management team aims to strengthen market position and maintain existing customer relationships while focusing on completing current civil engineering projects to ensure project profitability[26]. Cost Control and Business Strategy - The company plans to control costs effectively to achieve sustainable business growth and long-term benefits for shareholders[26]. - The group continues to focus on effective cost control measures in response to increasing construction costs and a challenging business environment[48]. Dividend and Shareholder Information - The board does not recommend the payment of a final dividend for the year ended March 31, 2023, consistent with the previous year[41]. - The company's available distributable reserves as of March 31, 2023, were approximately HKD 74.0 million, slightly down from HKD 74.3 million the previous year[103]. - The board considers various factors, including financial performance and operational needs, when determining dividend payments[108]. Employee and Management Compensation - The total employee costs for the year ended March 31, 2023, were approximately HKD 180.5 million, compared to approximately HKD 186.7 million for the year ended March 31, 2022[58]. - The compensation for senior management ranged from HKD 1,000,001 to HKD 2,500,000 for the year ending March 31, 2023[127]. - The company has a compensation committee that meets at least once a year to discuss remuneration matters, including that of directors and senior management[151]. Share Options and Awards - No share options were granted, exercised, cancelled, expired, or lapsed during the year ended March 31, 2023[98]. - The group purchased a total of 24,000,000 shares in the open market under the share award plan during the year ended March 31, 2023[101]. - The maximum number of shares that can be awarded under the share award plan is capped at 1% of the total issued shares[120]. Compliance and Governance - The independent auditors have confirmed the company's financial statements for the fiscal year ending March 31, 2023, ensuring compliance with regulatory standards[188]. - The board of directors has confirmed that at least 25% of the issued share capital is held by the public, complying with listing rules[186]. - The group has complied with relevant laws and regulations, with no significant violations reported for the year ending March 31, 2023[189]. - The board is responsible for the group's environmental, social, and governance (ESG) strategy and reporting, ensuring compliance with ESG risk management and internal control systems[189]. Market Expansion and Future Plans - The company has set a revenue target of $50 million for the next fiscal year, representing a 25% increase compared to the previous year[171]. - New product launches are expected to contribute an additional $10 million in revenue, with a projected growth rate of 30% in the first quarter post-launch[172]. - The company is expanding its market presence in Southeast Asia, aiming for a 15% market share within the next two years[173]. - A strategic acquisition of a local competitor is anticipated to enhance the company's market position and is expected to close by Q3 2024[174]. - Research and development investments have increased by 40%, focusing on innovative technologies to improve product offerings[175].

LANDRICH HOLDING LIMITED 譽燊豐控股有限公司 （於開曼群島註冊成立的有限公司） 股份代號: 2132 二零二二年 中期報告 公司資料 公司資料 | --- | --- | |-------------------------|---------------------| | | | | 董事會 | 提名委員會 | | 執行董事 | 鄺炳文先生 （主席） | | | 李殷傑先生 | | 徐繼光先生 （主席） | 李建基先生 | | 徐子揚先生 （行政總裁） | 徐繼光先生 | | 徐慧揚女士 | 公司秘書 | | 獨立非執行董事 | 吳愷盈女士 | | 李殷傑先生 | | | 李建基先生 | 授權代表 | | 鄺炳文先生 | 徐繼光先生 | | 董事委員會 | 吳愷盈女士 | | 審核委員會 | 核數師 | 國衛會計師事務所有限公司 | --- | --- | |---------------------|------------------| | | | | 李建基先生 （主席） | | | 李殷傑先生 | 執業會計師 | | 鄺炳文先生 | 香港 | | | 中環 | | 薪酬委員會 ...

Financial Performance - For the fiscal year ending March 31, 2022, the company recorded total revenue of approximately HKD 994.2 million, an increase of about 56.7% compared to HKD 634.4 million for the previous year[28]. - The gross profit rose by approximately 28.8% to about HKD 86.8 million from HKD 67.4 million in the previous year, primarily due to undertaking major projects[28]. - The net profit for the year was approximately HKD 41.2 million, a decrease of about 14.0% from HKD 47.9 million in the previous year[28]. - The group's revenue increased by approximately HKD 359.8 million or 56.7% from about HKD 634.4 million for the year ended March 31, 2021, to about HKD 994.2 million for the year ended March 31, 2022[37]. - Direct costs rose by approximately HKD 340.4 million or 60.0% from about HKD 567.1 million to about HKD 907.5 million, primarily driven by the corresponding increase in revenue[38]. - Gross profit increased by approximately HKD 19.4 million or 28.8% from about HKD 67.4 million to about HKD 86.8 million, while the gross profit margin decreased by about 1.9 percentage points to approximately 8.7%[39]. - Other income, gains, and losses decreased from about HKD 17.3 million to about HKD 0.9 million, mainly due to the absence of one-time subsidies received from the Hong Kong government in the previous year[41]. - Administrative and other operating expenses increased by approximately HKD 11.1 million or 41.0% from about HKD 27.1 million to about HKD 38.2 million, primarily due to employee costs and legal and professional fees[42]. - The net profit for the year decreased by approximately HKD 6.7 million or 14.0% from about HKD 47.9 million to about HKD 41.2 million, with an adjusted net profit margin of approximately 4.1%[44]. - As of March 31, 2022, the group had net current assets of approximately HKD 231.3 million and cash and bank balances of about HKD 122.8 million[46]. - Capital expenditure for the year was approximately HKD 7.7 million, down from about HKD 24.0 million in the previous year, primarily funded by internal resources[48]. - The group's debt-to-equity ratio as of March 31, 2022, was approximately 10.7%, compared to about 5.1% in the previous year[54]. Dividend Policy - The company does not recommend any final dividend for the fiscal year ending March 31, 2022, compared to a dividend of HKD 0.3125 per share in the previous year[29]. - The board does not recommend the payment of any final dividend for the year ended March 31, 2022[58]. - The board will consider various factors, including actual and expected financial performance, when deciding on dividend payments[82]. - The company has the right to review and amend its dividend policy at any time without creating a legal obligation to pay dividends[86]. - As of March 31, 2022, the company's distributable reserves amounted to approximately HKD 74.3 million, an increase from HKD 39.4 million as of March 31, 2021[111]. Market Opportunities and Strategy - The company anticipates significant market opportunities in the construction industry due to government infrastructure investments and development plans in Hong Kong[31]. - The management team emphasizes the importance of maintaining existing business relationships and focusing on completing current civil engineering projects to ensure project profitability[31]. - The company aims to implement effective cost control measures in response to the challenging business environment and rising construction costs[36]. Employee and Operational Management - The company has implemented measures to ensure employee health and safety while maintaining business operations amid the ongoing COVID-19 pandemic[36]. - The company will continue to actively monitor the development of COVID-19 and project progress, while maintaining communication with suppliers and clients[36]. - As of March 31, 2022, the group had 360 employees, an increase from 343 employees as of March 31, 2021, with total employee costs amounting to approximately HKD 186.7 million, up from HKD 144.9 million in the previous year[59]. - The group has enhanced its human resources by hiring several project management team leaders and engineers, although recruitment plans have faced delays due to a lack of suitable candidates[67][69]. Corporate Governance - The company has adopted the principles and code provisions of the Corporate Governance Code as set out in Appendix 14 of the Listing Rules, fully complying with the code as of March 31, 2022[175]. - The board consists of three executive directors and three independent non-executive directors as of the date of the report[180]. - The company has maintained a high level of corporate governance, which is crucial for gaining and maintaining the trust of shareholders and stakeholders[174]. - The company has a strategy for continuous improvement in corporate governance practices to enhance accountability and transparency[174]. - The company has received annual confirmations of independence from all independent non-executive directors, affirming their status as independent individuals[182]. - The remuneration committee held two meetings in the fiscal year ending March 31, 2022, to review the service agreements and compensation of directors and senior management, deeming them fair and reasonable[192]. - The nomination committee conducted one meeting in the fiscal year ending March 31, 2022, to review and recommend the re-election of directors, considering diversity factors such as gender, age, and industry experience[193]. Risk Management - The company has a strong focus on risk management, with the audit director responsible for comprehensive control and identification of operational risks[169]. - The group faces several operational risks, including reliance on competitive bidding processes and potential liabilities from subcontractors failing to perform[60][61]. Shareholder Information - The major shareholder, New Brilliance Enterprises Limited, holds 1,200,000,000 shares, representing 75% of the company[128]. - The company confirms that at least 25% of its issued share capital is held by the public, in compliance with relevant listing rules[142]. - The independent non-executive directors have confirmed their independence according to the listing rules, and the company believes all independent non-executive directors are independent[143]. Equipment and Technology - The group has purchased a 49-meter concrete pump truck, two mobile cranes (one 50 tons and one 90 tons), and two excavators (one 22 tons and one 35 tons) as part of its equipment acquisition strategy[63]. - The group has applied cloud storage functionality and upgraded its existing accounting and administrative management systems, with funding expected to be fully utilized by March 31, 2023[72]. - The group has fully utilized the funding costs for adopting building information modeling technology[72].