宏基资本公告，截至2025年3月31日止年度，来自持续及已终止经营业务的净亏损为2.94亿港元，每股 基本亏损74.9港仙。公司银行存款及现金约为6400万港元，较上年度的1.01亿港元有所减少。董事会不 建议派付末期股息。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因依賴該等內容 而引致的任何損失承擔任何責任。 RYKADAN CAPITAL LIMITED 宏基資本有限公司 （於開曼群島註冊成立的有限公司） （股份代號：2288） 截至二零二五年三月三十一日止年度之年度業績公告 | 財務摘要 | | | | --- | --- | --- | | 截至三月三十一日止年度 | | | | 二零二五年 | | 二零二四年 | | （經重列） | | | | 業績 | | | | 來自持續經營業務的年內虧損（千港元） | (223,722) | (166,963) | | 來自已終止經營業務的年內虧損（千港元） | (69,982) | (9,203) | | 年內虧損 | | | | －持續及已終止經營業務（千港元） | (293,704) | (176,166) | | 於二零二五年 | | 於二零二四年 | | 三月三十一日 | | 三月三十一日 | | 每股財務資料 | | | | 本公司擁有人應佔每股資產淨 ...

智通财经APP讯，宏基资本(02288)发布公告，于2025年4月9日，卖方Quarella Holdings Limited(由本公 司拥有87%的附属公司拥有50%的一间合营公司)与买方Quarella Global Limited订立买卖协议，卖方同意 出售，而买方同意购买待售股份(可维莱集团的全部已发行股本)及待售贷款，总代价为 2.4亿港元。 目标集团由目标公司及其四间全资附属公司组成，名为星弘、QRBG、深圳意特利及厦门可维莱，均作 为本集团的合营公司入账。其主要经营业务是：目标公司、深圳意特利及厦门可维莱各自为分销建筑及 室内装饰材料; QRBG为复合表面石材产品制造及贸易;及星弘为投资控股。 由于制造业务(构成目标集团业务的重要部分)的性质，加上目标集团于本集团对其投资的期间大部分时 间内一直处于经营亏损状态，其需要相对更多的外部资金为其营运拨支。此外，由于大型项目放缓及全 球信贷紧缩，故此宏观经济复苏不平衡及充满挑战，而目标集团的业务已受到该等市况的负面影响，且 无法确定该等状况何时会改善。经考虑以上所述，董事认为出售事项将使本集团能够退出其于目标集团 的投资，且凭藉出售事项所得款项，卖方将 ...

Financial Performance - The group reported a consolidated income of HKD 74 million for the six months ended September 30, 2024, compared to HKD 5 million for the same period in 2023, marking a significant increase[12]. - The gross profit for the six-month period was HKD 9 million, a turnaround from a gross loss of HKD 13 million in the previous year[12]. - The group recorded a loss of HKD 91 million for the six months ended September 30, 2024, compared to a loss of HKD 60 million for the same period in 2023[35]. - The basic loss per share for the six months ended September 30, 2024, was HKD 0.236, up from HKD 0.156 for the same period in 2023[36]. - Total revenue for the six months ended September 30, 2024, was HKD 73,821,000, up from HKD 64,601,000 in 2023, indicating a growth of 14.5%[61]. - The group's operating loss improved to HKD 6,322,000 from HKD 33,608,000 year-on-year, showing a significant reduction in operational losses[61]. - The company reported a total comprehensive income of HKD (88,757,000) for the six months ended September 30, 2024[99]. - For the six months ended September 30, 2024, the company reported a total comprehensive income of HKD 63,247,000, compared to a loss of HKD 58,610,000 in the previous period[104]. - The company reported a pre-tax loss of HKD 91,084 million for the six months ended September 30, 2024[121]. - The loss attributable to shareholders for the period was HKD 88,757 million, compared to HKD 58,610 million in the same period last year[133]. Assets and Liabilities - As of September 30, 2024, the total assets of the group amounted to HKD 995 million, down from HKD 1.148 billion as of March 31, 2024[12]. - The group’s total assets less current liabilities were HKD 784,056,000 as of September 30, 2024, down from HKD 874,073,000 as of March 31, 2024, a decrease of 10.3%[64]. - As of September 30, 2024, the total bank borrowings amounted to HKD 213,000,000, down from HKD 276,000,000 as of March 31, 2024, reflecting a decrease of 22.8%[68]. - The total liabilities of the group decreased to HKD 233,325 from HKD 296,131, reflecting a reduction of approximately 21.2%[175]. - The company’s total equity attributable to shareholders increased to HKD 15,295 from HKD 14,472, representing an increase of approximately 5.7%[186]. - The company’s cash and cash equivalents decreased by HKD 5,360,000, ending the period at HKD 95,587,000[104]. - The company has bank financing of HKD 118,403,000 as of September 30, 2024, down from HKD 154,233,000, showing a reduction in financial leverage[200]. Liquidity and Financial Ratios - The group has maintained a liquidity ratio of 2.38 times as of September 30, 2024, compared to 2.09 times as of March 31, 2024[12]. - The current ratio increased to 2.38 as of September 30, 2024, compared to 2.09 as of March 31, 2024, indicating improved liquidity[68]. - Current liabilities, including bank loans due within one year, decreased to HKD 194,586,000 from HKD 257,571,000, showing improved liquidity[191]. Investment and Development - The group is focusing on asset monetization and actively delivering ongoing projects despite a challenging macroeconomic environment[10]. - The group has entered into an agreement to acquire 100% equity of Cosmo Kingdom Holdings Limited, which holds a luxury property in Hong Kong[15]. - The group is actively developing a series of competitively priced innovative products to meet the changing demands of consumers in Greater China and Southeast Asia[54]. - The group is evaluating asset monetization opportunities in the US, with the Anoakia project sold and the Broadway project fully exited[50]. - The group aims to enhance shareholder returns through asset, investment, and fund management, while diversifying its portfolio to respond to a sluggish real estate market[23]. - The group anticipates better returns from its investments in Bhutan due to the local government's "high-value, low-impact" tourism policy[55]. Sales and Revenue - Revenue from completed property sales for the six months ended September 30, 2024, was HKD 70,932,000, compared to HKD 0 for the same period in 2023[87]. - Rental income for the six months ended September 30, 2024, was HKD 431,000, slightly down from HKD 473,000 in the previous year[87]. - The company’s income from asset, investment, and fund management services for the period was approximately HKD 2,392,000, down from HKD 2,904,000 in the previous year[87]. - Revenue from the sale of completed properties to a U.S. customer amounted to approximately HKD 70,932,000 during the reporting period[112]. Management and Operations - The group continues to promote and sell completed projects in Hong Kong and overseas during the review period[43]. - The company is currently in discussions with relevant banks regarding the necessary waivers and renegotiation of loan terms[69]. - The company is currently negotiating with banks for waivers related to certain financial covenants, with confidence in obtaining necessary approvals[194]. - The company has ongoing commitments related to the acquisition of residential property projects and construction costs at various locations[199]. Risk Management - The company is exposed to credit risk and interest rate fluctuations due to certain bank borrowings being charged at floating rates[71]. - The group continues to monitor credit risks and has not faced significant credit risk due to the quality of its customer base, primarily consisting of reputable property developers[60]. - The company has no foreign currency and interest rate hedging policies in place but will consider appropriate hedging strategies as necessary[60]. - The group maintained a cautious financial management approach to minimize operational risks across its business units[134].

Financial Performance - The company reported a loss of HKD 91,084,000 for the six months ended September 30, 2024, compared to a loss of HKD 59,982,000 for the same period in 2023, representing an increase in loss of approximately 52.5%[5] - Revenue for the six months ended September 30, 2024, was HKD 73,821,000, up from HKD 64,601,000 in the same period of 2023, indicating a growth of about 14.5%[5] - The gross profit for the period was HKD 9,220,000, a significant improvement from a gross loss of HKD 13,007,000 in the previous year[5] - The company reported a total comprehensive loss of HKD 89,599,000 for the period, compared to a loss of HKD 63,247,000 in the previous year, indicating an increase in comprehensive loss of approximately 41.6%[8] - The company reported a loss attributable to owners of HKD 88,757,000 for the six months ended September 30, 2024, compared to a loss of HKD 58,610,000 for the same period in 2023[56] - The net loss for the period was HKD 91 million, compared to a loss of HKD 60 million in the same period last year, primarily due to a decrease in the fair value of investment properties[85] - Basic loss per share for the period was HKD 0.236, an increase from HKD 0.156 in the previous year[85] Dividend and Shareholder Returns - The company did not declare an interim dividend for the six months ended September 30, 2024[3] - The board does not recommend the payment of an interim dividend for the six months ended September 30, 2024, consistent with the previous year[86] - The group has not paid an interim dividend for the six months ending September 30, 2024[120] Assets and Liabilities - The fair value of investment properties decreased to HKD 99,200,000 from HKD 154,500,000, reflecting a decline of approximately 35.8%[10] - The company's total assets decreased to HKD 502,280,000 from HKD 571,834,000, a reduction of about 12.1%[10] - The net asset value per share attributable to the company’s owners decreased to HKD 2.06 from HKD 2.29, a decline of approximately 10.0%[3] - As of September 30, 2024, the company's total assets amounted to HKD 995 million, down from HKD 1.148 billion as of March 31, 2024[83] - The company's current assets were HKD 502 million, representing a decrease from HKD 572 million as of March 31, 2024, with a current ratio of 2.38 times[83] - The total bank loans outstanding as of September 30, 2024, were HKD 212.989 million, down from HKD 276.093 million as of March 31, 2024[73] - The total debt of the group was HKD 213 million, down from HKD 276 million as of March 31, 2024, representing a debt-to-asset ratio of 21.4%[108] - The net asset liability ratio as of September 30, 2024, was 15.2%, a decrease from 20.3% as of March 31, 2024, with net debt amounting to HKD 117 million[108] Revenue Sources - The group reported revenue of approximately HKD 70,932,000 from the sale of completed properties for the six months ended September 30, 2024, compared to HKD 1,988,000 from the distribution of construction and interior decoration materials in the previous period[20] - The group’s revenue from asset, investment, and fund management for the six months ended September 30, 2024, was HKD 2,392,000, down from HKD 2,904,000 in the previous period[21] - The group’s revenue from property investment for the six months ended September 30, 2024, was HKD 66,000, consistent with the previous period[21] - The group’s other income sources for the six months ended September 30, 2024, amounted to HKD 73,390,000, significantly higher than HKD 4,958,000 in the previous period[21] Financing and Costs - The company incurred financing costs of HKD 6,570,000, down from HKD 8,032,000, representing a decrease of about 18.2%[5] - The financing costs for the six months ended September 30, 2024, were HKD 6,570,000, a decrease from HKD 8,032,000 in the previous period[50] - The company capitalized borrowing costs at an interest rate of approximately 4.0% for qualifying assets during the reporting period[60] - The company’s direct costs for management services were HKD 2,203,000 for the current period, a decrease from HKD 7,779,000 in the previous period[52] Investment and Development - The company continues to focus on asset monetization and is actively delivering ongoing projects despite a challenging economic environment in Hong Kong[82] - The company has achieved three international design awards for its Wong Chuk Hang project, which has helped attract buyer interest[82] - The company has invested in commercial and residential redevelopment properties in Hong Kong, the United States, and the United Kingdom during the review period[83] - The group is actively seeking new investment and development opportunities to balance risks and enhance shareholder value[111] - The group’s investment in Bhutan's hotel business is expected to yield better returns due to the local government's tourism policy aimed at attracting wealthier investors[106] Risk Management and Governance - The company maintains a cautious approach to risk management to mitigate market downturn risks while identifying real estate investment opportunities[83] - The company is in discussions with banks regarding a waiver for a financial covenant that was not met, with ongoing negotiations as of September 30, 2024[77] - The company complies with the corporate governance code principles and applicable rules, but deviates from the code regarding the separation of the roles of Chairman and CEO, which are held by Mr. Chen Wei Lun[122] - The audit committee consists of three independent non-executive directors, ensuring appropriate professional qualifications and accounting expertise[125] Future Outlook - The Graphite Square project in the UK is expected to be completed in January 2025, with a strong interest from overseas buyers[100] - The group aims to enhance shareholder returns through strategic partnerships and diversification of its property portfolio in response to the stabilizing asset prices and the beginning of a rate-cutting cycle[102] - Over 79% of the sellable units in the Cheung Sha Wan project and over 59% in the Wong Chuk Hang project have been sold and delivered to buyers as of September 30, 2024[99] Other Financial Information - The minimum lease payments receivable from irrevocable operating leases as of September 30, 2024, total HKD 1,115,000, compared to HKD 1,485,000 as of March 31, 2024[24] - Trade receivables increased to HKD 23,089,000 from HKD 22,277,000, an increase of approximately 3.6%[10] - Trade receivables amounted to HKD 23,089,000 as of September 30, 2024, showing an increase from HKD 22,277,000 as of March 31, 2024[68] - The impairment loss on trade receivables was HKD 6,180,000 for the previous period, indicating a significant financial impact[54] - The company recorded a net foreign exchange loss of HKD 1,789,000 for the current period, compared to a gain of HKD 3,028,000 in the previous period[60] - The group’s employee compensation totaled HKD 14 million for the period, consistent with the previous six months[118] - The group has utilized HKD 120 million of bank financing but failed to meet one financial covenant related to net asset requirements[112] - The mid-term performance announcement will be available on the Hong Kong Stock Exchange and the company's website, containing all information required by listing rules[126]

Financial Performance - The group's consolidated revenue for the year ended March 31, 2024, was HKD 104 million, an increase from HKD 88 million in 2023[16]. - The group recorded a gross loss of HKD 27 million with a gross loss margin of 26.2%, compared to a gross profit of HKD 3 million and a gross profit margin of 2.9% in 2023[16]. - The net loss for the year was HKD 176 million, slightly improved from HKD 192 million in 2023, with the loss attributable to shareholders amounting to HKD 174 million[16]. - The company does not recommend the payment of a final dividend for the year ended March 31, 2024, consistent with the previous year[17]. - The company reported no interim dividend for the year ending March 31, 2024, and the board does not recommend a final dividend for the same period[191]. - As of March 31, 2024, the company's distributable reserves include a share premium of HKD 400,859,000 and retained earnings of HKD 655,148,000, totaling HKD 1,056,007,000[197]. Asset Management - The total asset value of the company as of March 31, 2024, is HKD 11.48 billion, down from HKD 13.58 billion in 2023[15]. - Current assets amount to HKD 5.72 billion, compared to HKD 6.98 billion in the previous year, with a current ratio of 2.09 times, down from 3.01 times[15]. - The equity attributable to the owners of the company is HKD 8.61 billion, a decrease from HKD 10.36 billion in 2023[15]. - The total debt ratio of the group was 24.1%, up from 23.0% in 2023, with a net debt to equity ratio of 20.3% compared to 14.0% in 2023[32]. - The group's total bank borrowings amounted to HKD 276 million as of March 31, 2024, down from HKD 313 million in 2023[32]. - The company has classified certain properties as investment properties and others as properties for sale, indicating a strategic approach to asset management[98]. Business Operations - The company has successfully completed over half of the sellable units in its Hong Kong redevelopment projects during the fiscal year 2023/24[7]. - The hotel business is gradually recovering due to the normalization of economic activities and the rebound in international tourism[9]. - The company is focusing on cost management and the completion of existing redevelopment projects while exploring potential investment opportunities in the U.S. residential market, particularly in the Los Angeles area[9]. - The company continues to manage its asset, investment, and fund management businesses to enhance recurring income[13]. - The company is actively seeking promising real estate development and co-investment opportunities both in Hong Kong and overseas following previous asset disposals[13]. - The company’s projects in Hong Kong have adopted new aesthetic designs and sustainable building principles, attracting buyers despite challenging market conditions[13]. Governance and Management - The board of directors has authorized the delegation of daily management and operational functions to the CEO and senior management, while retaining decision-making power on major matters[45]. - The board consists of executive directors, including the CEO and CFO, with a recent resignation of a director on September 30, 2023[46]. - The company maintains a policy of board diversity, considering factors such as gender, age, education, and professional experience to achieve sustainable development[51]. - The board has complied with listing rules by maintaining at least three independent non-executive directors, with one possessing appropriate professional qualifications[52]. - The company has provided ongoing professional development training for directors to ensure compliance with regulatory requirements and enhance governance practices[57]. - The company has established three committees: the Compensation Committee, the Nomination Committee, and the Audit Committee, to oversee specific areas of governance[62]. Risk Management - The board is responsible for the overall risk management and internal control systems, ensuring they are effective and adequate for the company's operational scale and complexity[78]. - An external consultant was hired to review certain internal control procedures, and the results and recommendations were discussed and approved by management[78]. - The company has established a risk management policy to manage risks associated with achieving business objectives and to provide reasonable assurance against material misstatements or losses[79]. - The risk management framework includes clear responsibilities assigned at different management levels, with the board setting direction and providing guidance[80]. - The company has a strong focus on employee compensation and benefits, regularly reviewing policies to ensure competitiveness[183]. Environmental, Social, and Governance (ESG) - The company has identified and assessed key environmental, social, and governance (ESG) issues that are crucial for stakeholders[95]. - The ESG report adheres to the principles of materiality, quantification, balance, and consistency to ensure clear and comparable data[94]. - The company has disclosed key performance indicators related to its environmental and social impact for its property development and investment activities[97]. - The company emphasizes the importance of stakeholder engagement in determining significant ESG issues[95]. - The report includes a comprehensive index table that aligns with the ESG reporting guidelines set by the Hong Kong Stock Exchange[93]. - The company emphasizes the importance of corporate social responsibility as a cornerstone of sustainable development, integrating environmental and social factors into business practices[101]. Employee Management - The total number of employees as of March 31, 2024, is 33, with an overall employee turnover rate of 22.73%[135]. - The employee turnover rate by gender shows 12.50% for males and 28.57% for females[135]. - The turnover rate for employees aged 50 and above is 40.00%, while it is 25.00% for those under 30[135]. - The company provides up to HKD 6,000 per employee annually for work-related training courses[128]. - Employees can take up to 3 days of exam leave each year to support their educational pursuits[128]. - The average training hours for management employees in the office is 17.30 hours, compared to 4.29 hours for non-management employees[129]. Community Engagement - The company participated in community investment activities totaling 25 hours during the reporting year, emphasizing its commitment to social responsibility[161]. - The report highlights community investment areas, including education and health, showcasing the company's social responsibility initiatives[168].

Financial Performance - The company reported a loss of HKD 176,166,000 for the year ended March 31, 2024, compared to a loss of HKD 192,222,000 for the previous year, representing a 8.4% improvement in losses [3]. - Revenue for the year was HKD 104,388,000, an increase of 19% from HKD 87,695,000 in the previous year [3]. - The cost of sales and services increased significantly to HKD 131,690,000, up from HKD 85,142,000, leading to a gross loss of HKD 27,302,000 compared to a gross profit of HKD 2,553,000 in the prior year [3]. - The company’s basic loss per share was HKD 46.3 cents, compared to HKD 50.4 cents in the previous year [3]. - The company reported a total comprehensive income of HKD (177,151) million for the year, compared to HKD (201,735) million in the previous year, indicating an improvement [32]. - The loss attributable to shareholders for the year was HKD 173.886 million, slightly improved from HKD 189.329 million in 2023 [108]. Dividends and Shareholder Returns - The company did not recommend a final dividend for the year ended March 31, 2024 [2]. - The group did not declare any dividends for the year ended March 31, 2024, consistent with the previous year [109]. - The board does not recommend the payment of a final dividend for the year ending March 31, 2024 [190]. Assets and Liabilities - The company had a total asset value minus current liabilities of HKD 874,073,000 as of March 31, 2024 [7]. - The total assets of the company as of March 31, 2024, amounted to HKD 1,147,602 million, down from HKD 1,358,091 million in the previous year, reflecting a decrease of approximately 15.4% [30]. - The company’s total liabilities decreased to HKD 296,131 million from HKD 328,199 million, representing a reduction of about 9.8% year-over-year [30]. - The company’s equity attributable to owners was HKD 861 million as of March 31, 2024, down from HKD 1.036 billion in 2023 [155]. - The company’s total segment liabilities decreased to HKD 98,959 million from HKD 148,419 million, a decrease of about 33.3% year-over-year [30]. - The company’s bank borrowings totaled HKD 276 million as of March 31, 2024, a decrease from HKD 313 million in 2023 [145]. Cash Flow and Financing - Cash and bank deposits as of March 31, 2024, were approximately HKD 101,000,000, down from HKD 167,000,000 in the previous year [2]. - The company’s financing costs increased to HKD 15,713,000 from HKD 12,744,000 in the previous year [3]. - The company’s liabilities for bank loans increased to HKD 185,000 million from HKD 172,500 million, reflecting an increase of approximately 7.2% [30]. - The group’s net debt as of March 31, 2024, was 175 million HKD, an increase from 145 million HKD in 2023 [170]. - The group has utilized HKD 185,000,000 of the HKD 237,500,000 bank financing granted by relevant banks, failing to meet one financial covenant related to net asset requirements [198]. Operational Highlights - The company had a remaining performance obligation of HKD 75,137,000 as of March 31, 2024, significantly up from HKD 4,187,000 in the previous year [20]. - The company incurred a net foreign exchange loss of HKD 3,923,000 in the current year compared to a loss of HKD 3,608,000 in the previous year [56]. - The company has ongoing property redevelopment projects in the US and the UK, including the Graphite Square project, which is progressing as planned [102]. - The group has begun delivering pre-sold units in the Wong Chuk Hang and Shek Pai Tau projects, which have received industry awards for their design [125]. - The group is in the planning stage for the Monterey Park Towne Centre project, with revised plans expected to be approved by the end of 2024 [162]. Market Conditions and Future Outlook - The company aims to expand its market share in Southeast Asia to meet the changing demands of consumers [140]. - The company maintains a cautious outlook on recent market conditions, despite ongoing geopolitical tensions [141]. - The group has observed positive signs in the residential market and expects favorable conditions for the local commercial real estate market due to the government's new capital investment scheme [168]. Governance and Compliance - The company has adopted a securities trading code for directors and senior management that meets or exceeds the standards set by the listing rules [192]. - The audit committee, consisting of three independent non-executive directors, has reviewed the annual performance for the year ending March 31, 2024 [194]. - The chairman and CEO roles are held by the same individual, which deviates from corporate governance guidelines, but the board believes this arrangement serves the company's best interests [200].

Financial Performance - The consolidated revenue for the six months ended September 30, 2023, was HKD 5 million, down from HKD 83 million for the same period in 2022[15]. - The company recorded a gross loss of HKD 13 million for the period, compared to a gross profit of HKD 13 million in the previous year[15]. - The net loss for the six months ended September 30, 2023, was HKD 60 million, compared to a net loss of HKD 55 million for the same period in 2022[15]. - Basic and diluted loss per share for the period was HKD 0.156, an increase from HKD 0.135 in the previous year[15]. - The group reported a loss of HKD 59.98 million for the six months ended September 30, 2023, compared to a loss of HKD 55.47 million for the same period in 2022[40]. - Total comprehensive loss for the period was HKD 63.25 million, compared to HKD 67.87 million in the previous year[42]. - The company reported a loss of HKD 58,610,000 for the six-month period ending September 30, 2023[48]. - The total comprehensive income for the period was HKD (61,352,000), including other comprehensive losses of HKD 2,742,000[48]. - The group incurred a pre-tax loss of HKD 59,981,000, reflecting ongoing financial challenges[75]. Assets and Liabilities - The total assets of Rykadan Capital Limited as of September 30, 2023, amounted to HKD 13.13 billion, a decrease from HKD 13.58 billion as of March 31, 2023[13]. - The company's cash and bank deposits as of September 30, 2023, were HKD 128 million, representing 9.7% of total assets, down from 12.3% as of March 31, 2023[18]. - As of September 30, 2023, the total debt of the group was HKD 329 million, an increase from HKD 313 million as of March 31, 2023[31]. - The group's debt-to-asset ratio increased to 25.0% from 23.0% as of March 31, 2023[30]. - Current assets decreased to HKD 672 million from HKD 698 million, while current liabilities increased to HKD 262 million from HKD 232 million, resulting in a current ratio decline to 2.57 from 3.01[31]. - The total liabilities of the group increased to HKD 346,629,000 as of September 30, 2023, compared to HKD 328,199,000 as of March 31, 2023[80]. - The total amount of bank loans due within one year increased to HKD 94,118,000 as of September 30, 2023, compared to HKD 60,108,000 as of March 31, 2023, marking an increase of about 56.4%[95]. - The total bank loans outstanding as of September 30, 2023, amounted to HKD 328,843,000, up from HKD 312,799,000 as of March 31, 2023, representing an increase of approximately 5.1%[99]. Investment and Projects - Rykadan Capital Limited has maintained a cautious approach in seeking and evaluating real estate investment opportunities amid rising interest rates and a slowing property market[12]. - The company has commenced the delivery of pre-sold units in its projects in Hong Kong, including the Wong Chuk Hang and Shek Pai Tau projects[12]. - The Anoakia project is expected to be completed by January 2024, with a total area of 11,335 square feet[23]. - The Graphite project in the UK is currently under construction and is expected to be completed by December 2024, with a 21.25% equity stake held by the company[24]. - The company plans to seek acquisition opportunities for value-added assets and property projects amid ongoing market uncertainties and property price adjustments[28]. - The company is exploring potential affordable housing elements in the high-density redevelopment projects in the Monterey Park Towne Centre project, with revised plans expected to be approved by early 2024[23]. - The company has completed the construction of the Shek Pai Tau and Wong Chuk Hang projects, with ongoing sales efforts for remaining units in the upcoming quarters[23]. Cash Flow and Financing - Operating cash flow showed a net outflow of HKD 37,527,000 compared to an inflow of HKD 36,322,000 in the previous year[53]. - New bank loans raised amounted to HKD 71,884,000, while repayments totaled HKD 55,679,000[53]. - Cash and cash equivalents decreased by HKD 37,857,000, with a closing balance of HKD 127,919,000[56]. - The foreign exchange impact on cash and cash equivalents was a decrease of HKD 1,709,000[56]. Corporate Governance and Shareholder Information - The board does not recommend the payment of an interim dividend for the six months ended September 30, 2023[16]. - The board confirmed that all directors and relevant employees adhered to the securities trading code during the interim reporting period[134]. - The company appointed a new independent non-executive director on August 15, 2023, and saw the resignation of another director on the same date[131]. - The company has complied with the corporate governance code as outlined in the listing rules, with some deviations noted regarding the roles of the chairman and CEO[132]. - Tiger Crown Limited holds 97,104,000 shares, representing 25.86% of the company, while Rykadan Holdings Limited holds a total of 148,957,211 shares, accounting for 39.67%[123][125]. Market Outlook - The company maintains a cautious outlook on the property market due to macroeconomic challenges and geopolitical tensions, focusing on completing existing project deliveries[28]. - The company is optimistic about the long-term investment prospects in the hotel industry due to the gradual recovery of the tourism sector[28]. - The company continues to develop competitively priced new products to address market challenges in the construction and interior decoration materials sector[26].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因依賴該等內容 而引致的任何損失承擔任何責任。 RYKADAN CAPITAL LIMITED 宏 基 資 本 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：2288） 截至二零二三年九月三十日止六個月期間之 中期業績公告 財務摘要 截至下列日期止六個月期間 二零二三年 二零二二年 九月三十日 九月三十日 業績： 期內虧損（千港元） (59,982) (55,473) 每股財務資料： ...

Financial Performance - The group's consolidated revenue for the year ended March 31, 2023, was HKD 88 million, an increase from HKD 87 million in 2022[15]. - The group recorded a loss of HKD 192 million for the year, compared to a loss of HKD 39 million in 2022, primarily due to a weak commercial property market in Hong Kong[15]. - Basic and diluted loss per share was HKD 0.504, compared to HKD 0.093 in 2022[15]. - The total employee compensation for the year was HKD 33 million, up from HKD 29 million in 2022[37]. - The group did not declare an interim dividend during the year and does not recommend a final dividend for the year ending March 31, 2023[187]. - The company's distributable reserves as of March 31, 2023, include a share premium of HKD 400,859,000 and retained earnings of HKD 840,854,000, totaling HKD 1,241,713,000[193]. Assets and Liabilities - Total assets of the group as of March 31, 2023, amounted to HKD 1.358 billion, a decrease from HKD 1.591 billion in 2022[14]. - Current assets reached HKD 0.698 billion, up from HKD 0.595 billion in 2022, representing a current ratio of 3.01 times compared to 1.66 times in the previous year[14]. - The equity attributable to ordinary shareholders was HKD 1.036 billion, down from HKD 1.234 billion in 2022[14]. - As of March 31, 2023, the group's bank deposits and cash amounted to HKD 167 million, representing 12.3% of total assets, up from 6.9% in 2022[18]. - The total debt ratio as of March 31, 2023, was 23.0%, up from 20.8% in 2022[32]. - The net debt as of March 31, 2023, was HKD 145 million, down from HKD 221 million in 2022[32]. - The total bank borrowings as of March 31, 2023, were HKD 313 million, a decrease from HKD 332 million in 2022[33]. Real Estate Development - The pre-sale rate for the Xie Fei Road project exceeded 76% as of March 31, 2023, despite a challenging market environment[12]. - The group launched two real estate redevelopment projects in Hong Kong, both of which progressed as planned and received strong market interest[12]. - Over 76% of the saleable units in the Shek Pai Tau project have been pre-sold as of March 31, 2023[27]. - The Anoakia project is expected to be completed in Q3 2023, with a total area of 11,335 square feet[26]. - The Graphite project in the UK is expected to be completed by the end of Q1 2025 and has received strong interest from overseas buyers[26]. - The Huang Zukeng project has won multiple awards and is being marketed to potential buyers in 2023[27]. - The group is exploring the inclusion of affordable housing elements in its Monterey Park Towne Centre project to enhance returns[26]. Market Outlook - The hotel business showed signs of recovery in the second half of the fiscal year, encouraged by a rebound in the tourism sector[9]. - The group is optimistic about the long-term outlook, anticipating improvements in the real estate market as interest rate hikes slow down in the second half of 2023[10]. - The company maintains a cautious optimism regarding potential opportunities in the second half of 2023 despite ongoing market challenges[31]. Governance and Management - The board of directors has authorized the delegation of daily management and operations to the CEO and senior management, while retaining decision-making power on major matters[43]. - The board consists of executive directors including the CEO and COO, and independent non-executive directors, ensuring a diverse composition[44][45]. - The company has maintained at least one independent non-executive director with appropriate professional accounting qualifications, in compliance with listing rules[48]. - The company has adopted a board diversity policy, considering various factors such as gender, age, and professional experience to promote sustainable development[47]. - The company has established three committees: the Remuneration Committee, the Nomination Committee, and the Audit Committee to oversee specific areas of governance[59]. - The Audit Committee is responsible for reviewing the completeness, accuracy, clarity, and fairness of the group's consolidated financial statements[66]. Risk Management - The company has established a risk management policy to manage risks associated with achieving business objectives[76]. - The risk management system includes risk identification, analysis, assessment, and treatment procedures to monitor and address the highest risks faced by the company[77]. - Key risks faced by the group include business risks, operational risks, and financial risks, influenced by economic conditions and regulatory changes in regions such as Hong Kong, the United States, and the United Kingdom[183][184]. Environmental, Social, and Governance (ESG) - The environmental, social, and governance (ESG) report covers property development and investment, as well as distribution of construction and interior decoration materials, with a focus on operations in Hong Kong, the United States, and the United Kingdom[95]. - The company has identified and assessed key ESG issues that are crucial for stakeholders, ensuring that historical data and key performance indicators are quantifiable[93]. - The company has committed to disclosing quantitative information in its reports to enhance stakeholder understanding of its ESG performance[93]. - The company promotes sustainable development principles in its property development business, ensuring compliance through responsible design and construction practices[141]. - The company has implemented strict anti-corruption measures to maintain high ethical standards and zero tolerance for bribery and fraud[102]. Employee Relations - Total employee count as of March 31, 2023, is 110, with an overall employee turnover rate of 26.9%[133]. - The employee turnover rate by gender shows 45.5% for males and 13.3% for females[133]. - Full-time employees enjoy various benefits, including medical insurance and multiple types of leave, enhancing employee satisfaction and retention[129]. - The company emphasizes a non-discriminatory recruitment process, utilizing multiple channels to attract suitable candidates[121]. - The company encourages employee development through internal and external training opportunities, offering up to HKD 6,000 in funding for relevant courses annually[126]. Community Engagement - The company participated in community service activities, contributing 30 hours to a program for visually impaired individuals in January 2023[158]. - The company has established compensation policies to encourage employee participation in community welfare activities[158]. - The company has a focus on community investment in areas such as education, health, and culture[168].