Financial Performance - The Group recorded a turnover of approximately HK$169.4 million for the year ended 31 March 2022, a decrease from approximately HK$337.9 million in the previous year, representing a decline of about 50%[15] - Gross profit for the year was approximately HK$43.1 million, down from approximately HK$91.4 million, indicating a decrease of around 53%[15] - The loss for the year was approximately HK$27.2 million, compared to a loss of approximately HK$23.4 million in the previous year, reflecting an increase in loss of about 16%[15] - The Group recorded a revenue of approximately HK$169.4 million and a gross profit of approximately HK$43.1 million for the year ended 31 March 2022, compared to approximately HK$337.9 million and HK$91.4 million for the previous year, resulting in a loss of approximately HK$27.2 million[17] - The gross profit of the financial services business decreased to approximately HK$16.9 million from approximately HK$49.8 million in the last corresponding year, while the finance leasing business gross profit fell to approximately HK$7.6 million from approximately HK$17.0 million[16] - The trading business recorded a turnover of approximately HK$125.9 million with a loss of approximately HK$7.5 million, compared to approximately HK$250.6 million and a loss of approximately HK$6.1 million for the same period in 2021[20] - Interest income for the year ended March 31, 2022, was approximately HK$16.4 million, a decrease from approximately HK$19.1 million in the previous year, resulting in a loss of approximately HK$5.4 million[25] - The finance leasing business had an outstanding principal amount of approximately HK$77.5 million as of March 31, 2022, with a turnover of approximately HK$7.6 million and a loss of approximately HK$1.3 million for the year[30] - The financial services business reported a turnover of approximately HK$19.5 million with a loss of approximately HK$18.1 million for the year ended March 31, 2022, down from approximately HK$51.1 million in revenue and a profit of HK$0.7 million in the previous year[35] Business Strategy and Operations - The financial services business experienced less than satisfactory performance due to plummeting stock markets during the year[10] - The Group diversified into the bond placing market with successful projects completed, aiming to increase exposure and scale of operations within capital markets[10] - The Group plans to actively identify and explore investment and business opportunities to strengthen and broaden its asset and revenue base[10] - Strategies will be reassessed and re-engineered periodically in response to the changing environment[10] - The Group aims to enhance and improve business operations and profitability by cautiously seizing every opportunity[10] - The Group will continue to assess market conditions and adjust business strategies to mitigate credit risk and enhance recovery of outstanding amounts[28] - Management is cautiously optimistic about the recovery of the trading business, anticipating a return to pre-COVID-19 levels as the PRC government emphasizes domestic market strategies[24] - The Group is actively seeking new investment and business opportunities to broaden its asset and revenue base for long-term performance[43] Impairment and Losses - Impairment loss provisions were made for receivables due to the operational and financial impacts on certain customers from the COVID-19 pandemic[9] - An impairment loss on goodwill of approximately HK$71.7 million was recognized, offset by a gain on changes in fair value of other financial assets of approximately HK$74.1 million[17] - The Group provided an impairment loss on finance lease receivables of approximately HK$2.8 million for the year ended March 31, 2022, due to defaults caused by the COVID-19 pandemic[31] - The Group recognized an impairment loss on goodwill of approximately HK$71.7 million due to carrying amounts exceeding recoverable amounts[42] Corporate Governance - The Group's corporate governance practices comply with the Corporate Governance Code for the year ended 31 March 2022[62] - The Board is responsible for the control and leadership of the Group, including monitoring policy matters and significant transactions[63] - The Company has appointed three independent non-executive Directors, with Mr. Chi Chi Hung having appropriate professional qualifications and experience in financial matters[74] - The Chairlady and CEO positions are held by different individuals to maintain independence and balanced decision-making[72] - The Board consists of 2 executive Directors and 3 independent non-executive Directors, providing a balanced set of skills and experiences essential for effective leadership[69] - The Company has established a board diversity policy to enhance diversity at the Board level, considering factors such as talents, skills, experience, and independence[83] - The Company has a structured approach to ensure the continuous professional development and training of Directors[68] - The Company Secretary ensures that Board procedures are followed and activities are conducted efficiently[90] Risk Management - The Group's financial risk factors include credit risk, market risk, and liquidity risk, with management measures detailed in the financial statements[52] - The Board is responsible for establishing and maintaining effective risk management and internal control systems to achieve the Group's objectives[122] - The Group has adopted a complete risk management process, including risk identification, assessment, evaluation, and treatment, ensuring a proactive and systematic approach[127] - The internal control and risk management systems of the Group were deemed effective and adequate based on the Audit Committee's review and recommendations[124] - The Group's risk management system is continuous and involves input from various functional areas across the organization[127] Employee and Workplace Policies - Total employees as of March 31, 2022, decreased to 58 from 66 in 2021, with a gender breakdown of 34 males and 24 females[187] - The overall employee turnover rate during the reporting period was 47%[191] - Competitive remuneration packages are offered, including annual salary increments and discretionary bonuses based on performance[194] - Employee benefits include medical insurance in Hong Kong and contributions to mandatory provident funds and social insurance in China[194] - The Group emphasizes work-life balance and organizes regular employee activities to foster team spirit[196] - A comprehensive occupational health and safety policy is in place, complying with relevant laws and regulations[197] - The Group employs a diverse talent team, ensuring recruitment processes are free from discrimination[189] - Work injuries during the reporting period: 0[199] Environmental, Social, and Governance (ESG) - The Group aims to enhance employee well-being and incorporate environmental considerations into daily operations through green office measures[165] - The Group has set ESG-related targets to monitor sustainability performance and disclose key environmental and social performance indicators[155] - The Group conducts materiality assessments to identify significant ESG issues relevant to its operations[155] - The Group identified 20 ESG-related topics relevant to its business operations based on HKEX listing rules and industry trends[179] - The Board retains ultimate responsibility for overseeing the Group's risk management activities and monitors material ESG risks[170] - Stakeholder engagement includes regular communication with employees, suppliers, customers, and financial institutions[175]

Financial Performance - Revenue for the six months ended September 30, 2021, was HKD 90,499,000, a decrease of 51.5% compared to HKD 186,478,000 in the same period of 2020[9] - Gross profit for the same period was HKD 22,757,000, down 61.0% from HKD 58,397,000 year-on-year[9] - The company reported a loss before tax of HKD 19,400,000, compared to a loss of HKD 14,002,000 in the previous year, reflecting a deterioration of 38.5%[10] - Total comprehensive loss for the period was HKD 6,915,000, compared to a total comprehensive income of HKD 15,452,000 in the same period last year[10] - The basic and diluted loss per share for the period was HKD 0.42, compared to HKD 0.34 in the same period last year[10] - The company reported a cumulative loss of HKD 197,849,000 as of September 30, 2021, compared to a cumulative loss of HKD 170,723,000 in the previous year[14] - The group reported a pre-tax loss of HKD 17,249,000 for the six months ended September 30, 2021, compared to a loss of HKD 14,026,000 in the same period of 2020, representing a 15.8% increase in losses[47] - The company reported a total loss of HKD 17,928 for the period, compared to a loss of HKD 19,400 before tax[32] Asset and Liability Management - Total assets as of September 30, 2021, were HKD 1,026,094,000, a decrease from HKD 1,067,749,000 as of March 31, 2021[12] - Total liabilities decreased to HKD 109,034,000 from HKD 143,774,000, indicating a reduction of 24.2%[13] - The company’s cash and bank balances stood at HKD 237,514,000, slightly down from HKD 246,791,000 at the end of the previous fiscal year[12] - The total cash and cash equivalents decreased by HKD 19,751,000, while the cash balance at the end of the period was HKD 237,514,000, slightly down from HKD 238,639,000 in 2020[15] - Non-current assets totaled HKD 1,026,094,000 as of September 30, 2021, with current assets amounting to HKD 523,404,000[35] - The group’s total assets were reported at HKD 107,851,000, with current assets of HKD 38,447,000 and non-current assets of HKD 69,404,000[51] Impairment and Goodwill - The company recognized an impairment loss on goodwill amounting to HKD 58,000,000 during the reporting period[9] - The group recognized an impairment loss on goodwill of HKD 58,000,000 during the reporting period, resulting in a goodwill balance of HKD 18,695,000 as of September 30, 2021[53] - The recoverable amount of the Chao Shang Financial cash-generating unit was determined to be lower than its carrying value, resulting in a goodwill impairment loss of approximately HKD 58,000,000 as of September 30, 2021[56] Revenue Breakdown - Revenue from merchandise sales was HKD 68,939, down 47.4% from HKD 131,091 in the previous year[28] - Interest income from lending, factoring, and finance leasing was HKD 14,908, a decline of 33.7% compared to HKD 22,430 in the prior year[28] - The financial services segment generated revenue of HKD 9,889, contributing to a total of HKD 90,499 across all segments[32] - The trading segment in China accounted for HKD 68,939 in revenue, while the lending and factoring segment generated HKD 8,171[32] - Revenue from external customers in China was HKD 77,422,000, down from HKD 145,512,000 in the previous year[38] Cash Flow and Financing Activities - For the six months ended September 30, 2021, the company reported a net cash outflow from operating activities of HKD 8,604,000, compared to a net inflow of HKD 34,540,000 in the same period of 2020[15] - The net cash inflow from investing activities for the same period was HKD 2,741,000, an increase from HKD 769,000 in 2020[15] - The net cash outflow from financing activities was HKD 13,888,000, compared to HKD 9,184,000 in the previous year[15] - The group’s financing costs decreased to HKD 1,015,000 from HKD 1,680,000, a reduction of approximately 39.4% year-over-year[42] Strategic Focus and Future Outlook - The company plans to focus on improving operational efficiency and exploring new market opportunities to enhance future performance[8] - The group anticipates that the trading business's revenue in the coming quarters will remain at similar levels to current operations due to the ongoing impact of the pandemic and economic uncertainties in China[92] - The group will continue to monitor the economic environment closely and adjust its business strategies to minimize operational risks and optimize future development plans[92] Shareholder and Corporate Governance - Major shareholder 鄭菊花女士 holds 834,767,140 shares, representing 20.26% of the company[111] - Major shareholder Superb Smart Limited also holds 834,767,140 shares, equivalent to 20.26% of the company[116] - The company has adopted a share option plan effective from September 2, 2013, which will last for ten years, replacing the previous plan that expired on March 24, 2013[119] - The company has confirmed that there were no share buybacks or sales during the six months ending September 30, 2021[130] - The company has maintained compliance with the corporate governance code as per the listing rules during the reporting period[129]

Financial Performance - The Group recorded a turnover of approximately HK$337.9 million with a gross profit of approximately HK$91.4 million for the year ended 31 March 2021, compared to HK$238.5 million and HK$79.9 million for the previous year, resulting in a loss of approximately HK$23.4 million[12]. - The gross profit from the financial services business increased by approximately HK$11.5 million to HK$49.8 million for the year ended 31 March 2021, up from HK$36.5 million in the previous year[12]. - Administrative expenses rose by approximately HK$28.6 million due to the full-year impact of the financial services business acquisition completed on 31 December 2019[12]. - The trading business recorded a turnover of approximately HK$250.6 million with a loss of approximately HK$6.1 million for the year ended 31 March 2021, compared to HK$161.3 million and HK$2.9 million for the previous year[15]. - The Group recognized a provision for impairment loss on trade receivables of approximately HK$8.2 million, contributing to the loss in the trading business[15]. - Interest income recognized by the Group for the year ended March 31, 2021, was approximately HK$19.1 million, compared to HK$14.1 million for the previous year, while profit decreased to approximately HK$2.5 million from HK$9.7 million[19]. - The finance leasing business maintained a portfolio with an outstanding amount of approximately HK$120.3 million as of March 31, 2021, generating a turnover of approximately HK$17.1 million and a profit of approximately HK$3.5 million[20]. - The finance leasing portfolio's turnover decreased from approximately HK$25.7 million and profit from HK$18.2 million in the previous year[20]. - The Group provided an impairment loss on loan and factoring receivables of approximately HK$13.4 million during the year ended March 31, 2021, impacting profit from this segment[19]. Operational Challenges - The financial year faced significant challenges due to the COVID-19 pandemic, impacting the operation and financial strength of certain customers, leading to defaults in repayment[9]. - The Group adopted various measures to mitigate operational risks, but it was necessary to provide for impairment losses on receivables, affecting financial performance for the year ended March 31, 2021[9]. - The management is cautious about the changing trading environment due to intensified Sino-US trade frictions and the COVID-19 pandemic, implementing strict procurement and cost control measures[18]. - The Group will closely monitor the development of COVID-19 to adapt its policies accordingly[20]. Strategic Initiatives - The Group will reassess and re-engineer its strategies in response to the changing environment, as the state of pandemic control remains uncertain[9]. - Looking ahead, the Group aims to identify and explore investment and business opportunities to strengthen and broaden its asset and revenue base[9]. - The Group will cautiously seize opportunities to enhance and improve business operations and profitability[9]. - The Group plans to adopt a more prudent credit risk assessment and avoid customers in industries highly impacted by the COVID-19 pandemic[21]. - The Group will actively identify and explore other investment and business opportunities to broaden its assets and revenue base[23]. Corporate Governance - The Board has been in compliance with all code provisions set out in the Corporate Governance Code for the year ended 31 March 2021[40]. - The Board is responsible for corporate governance and has established an internal control group for specific operations[40]. - The Company arranged appropriate insurance cover for Directors' liabilities during the year ended March 31, 2021, with no claims made against the Directors throughout the year[42]. - The Company has appointed three independent non-executive Directors, with Mr. Chi Chi Hung having appropriate professional qualifications and related experiences in financial matters[48]. - The procedures for the appointment, re-election, and removal of Directors are outlined in the Company's bye-laws, ensuring a structured governance process[51]. - The Company Secretary ensures compliance with Listing Rules and prepares annual and interim reports within the required time limits[65]. - The Company has established three committees: Audit Committee, Remuneration Committee, and Nomination Committee, with a majority of independent non-executive directors[73]. Risk Management - Financial risk factors include credit risk, market risk, and liquidity risk, with details provided in the consolidated financial statements[36]. - The Group's risk management process includes risk identification, assessment, evaluation, and treatment, ensuring a systematic approach to managing risks[90]. - The Board, through the Audit Committee, has reviewed the effectiveness of the risk management and internal control systems, finding them to be effective and adequate[89]. - The internal audit function is implemented to address major control weaknesses identified during audits, aiming to resolve significant internal control defects[90]. Employee and Community Engagement - The Group employs approximately 66 employees, an increase from 57 in 2020[37]. - The Group's operations in the PRC significantly contribute to its revenue, and unfavorable events in the country could disrupt overall business and lower revenues[36]. - The Group emphasizes ongoing communication with shareholders through interim and annual reports, ensuring transparency[102]. - The Group's annual general meeting serves as a platform for shareholders to exchange views with the Board, with relevant information sent at least 21 days prior[102]. - The Group donated HK$1.5 million to support communities severely affected by the COVID-19 pandemic[158]. Environmental and Social Responsibility - The Group is committed to maintaining high environmental standards and complied with relevant laws and regulations during the year ended 31 March 2021[37]. - The Group is committed to environmental protection and adheres to applicable environmental laws and regulations, with no material non-compliance reported during the Reporting Period[151]. - The Group aims to minimize emissions and enhance energy efficiency by optimizing electricity consumption and turning off idle electrical appliances[151]. - The Group has implemented a red packet and mooncake box recycling program to promote environmental protection and reduce waste at the source[158]. - The Group has established an Anti-Money Laundering and Counter Terrorist Financing (AML/CTF) Policy to prevent money laundering and terrorist financing activities, including risk assessment and ongoing monitoring of customers[148].

Financial Performance - Revenue from continuing operations for the six months ended September 30, 2020, was HKD 186,478,000, an increase of 81.5% compared to HKD 102,607,000 in the same period of 2019[4] - Gross profit for the same period was HKD 58,397,000, representing a gross margin of 31.3%, up from HKD 22,918,000 in 2019[4] - Operating loss from continuing operations was HKD 12,322,000, compared to a loss of HKD 7,227,000 in the previous year[5] - The total comprehensive income for the period was HKD 15,452,000, a significant improvement from a loss of HKD 50,883,000 in 2019[5] - The company reported a loss attributable to equity holders of HKD 14,026,000 for the period, compared to a loss of HKD 11,603,000 in the previous year[6] - The basic and diluted loss per share for the period was HKD 0.34, compared to HKD 0.32 in the same period last year[6] - The operating loss for the period was HKD 8,703,000, with corporate expenses amounting to HKD 13,163,000[24] - The company reported a pre-tax loss of HKD 14,002,000, resulting in a net loss of HKD 13,673,000 after tax[25] Assets and Liabilities - The company's total assets as of September 30, 2020, amounted to HKD 1,144,939,000, an increase from HKD 1,044,105,000 as of March 31, 2020[7] - Total liabilities increased to HKD 234,262,000 as of September 30, 2020, compared to HKD 148,880,000 as of March 31, 2020, representing a 57.3% increase[8] - Current liabilities rose significantly to HKD 198,943,000 from HKD 92,126,000, marking a 115.7% increase[8] - The company’s non-current assets totaled HKD 210,270,000, slightly down from HKD 210,817,000 as of March 31, 2020[7] - The company’s equity attributable to owners was HKD 922,527,000, an increase from HKD 906,902,000 in the previous period[7] - The total equity and liabilities amounted to HKD 1,144,939,000 as of September 30, 2020, compared to HKD 1,044,105,000 as of March 31, 2020, indicating a 9.6% increase[8] Cash Flow - Cash and bank balances increased to HKD 238,639,000 from HKD 183,430,000, reflecting a growth of 30.1%[7] - Net cash generated from operating activities for the six months ended September 30, 2020, was HKD 34,540,000, up from HKD 32,817,000 in the same period last year, reflecting a 5.2% increase[10] - Cash and cash equivalents at the end of the period increased to HKD 238,639,000 from HKD 148,968,000, a growth of 60.2%[10] - The company reported a net cash outflow from financing activities of HKD 9,184,000, compared to an inflow of HKD 3,711,000 in the previous year[10] Revenue Streams - Sales of goods amounted to HKD 131,091,000, up from HKD 81,453,000, reflecting a growth of 60.8% year-on-year[21] - Interest income from lending, factoring, leasing, and guarantee financing was HKD 22,430,000, an increase from HKD 20,485,000, which is a growth of 9.5%[21] - Revenue from financing leasing consulting fees and commissions was HKD 2,417,000, significantly up from HKD 669,000, marking a growth of 261.5%[21] - The group reported brokerage commission income from securities trading of HKD 2,592,000, which was not present in the previous year[21] - Underwriting and placement commission income reached HKD 27,917,000, also a new revenue stream compared to the previous year[21] - The total income from asset management fees was HKD 31,000, indicating the initiation of this revenue source[21] Business Operations - The company ceased its ship leasing business during the fiscal year ending March 31, 2020, and expanded into financial services through the acquisition of a regulated entity[11] - The company expanded its business into financial services and terminated its ship leasing operations during the reporting period[24] - The company is focusing on expanding its market presence in China, where revenue from external customers reached HKD 145,512,000, up from HKD 100,008,000 in 2019[31] Shareholder Information - Major shareholder Zheng Juhua holds 834,767,140 shares, representing 20.26% of the company[92] - Major shareholder Junlong Holdings Limited holds 341,132,000 shares, representing 8.28% of the company[92] - Sea Venture Investments Limited holds 283,168,000 shares, representing 6.87% of the company[93] Corporate Governance - The company fully complied with the corporate governance code during the six-month period ending September 30, 2020[104] - The board of directors confirmed compliance with the securities trading code during the six-month period ending September 30, 2020[108] - The audit committee consists of three independent non-executive directors and has reviewed the unaudited condensed consolidated financial statements for the six-month period ending September 30, 2020[109] Employee Information - The group employed approximately 64 staff members as of September 30, 2020, and provided regular training to enhance team capabilities[86]

Acquisition and Business Strategy - The Group successfully completed the acquisition of ChaoShang Financial Holding Limited and its subsidiaries, diversifying its business into financial services[9]. - The acquisition was finalized on December 31, 2019, allowing the Group to expand into securities dealing, broking, underwriting, and asset management services in Hong Kong[10]. - The new corporate name, Hong Kong ChaoShang Group Limited, was adopted on July 22, 2019, symbolizing a fresh vision and direction for the Group's business development[9]. - The Group aims to leverage ChaoShang Financial's expertise and customer base to create viable business development opportunities[10]. - The Group's strategic focus is now on consolidating resources for financial services and trading, moving away from less profitable segments[11]. - The Group completed a placing of 440,000,000 ordinary shares at a price of HK$0.50 per share, raising net proceeds of approximately HK$214.1 million on 27 December 2019[19]. - The acquisition of ChaoShang Financial was completed on 31 December 2019 for a consideration of HK$250 million, enabling the Company to provide various financial services in Hong Kong[42]. Financial Performance - The Group recorded a turnover of approximately HK$238.5 million and a gross profit of approximately HK$79.9 million from continuing operations for the year ended 31 March 2020, compared to approximately HK$105.1 million and HK$38.0 million in the previous year[18]. - The loss for the year narrowed to approximately HK$20.8 million, down from approximately HK$36.0 million in the last corresponding year, primarily due to an increase in gross profit and a decrease in impairment loss on trade receivables[18]. - As of 31 March 2020, the total assets of the Group amounted to approximately HK$1,044.1 million, an increase from HK$806.5 million in 2019, while net assets rose to approximately HK$895.2 million from HK$748.3 million[19]. - The Group's financial position improved significantly due to the acquisition of ChaoShang Financial on 31 December 2019, which resulted in the recognition of intangible assets and goodwill[19]. - The Group recorded a turnover of approximately HK$161.3 million with a loss of approximately HK$2.9 million for the trading business for the year ended 31 March 2020, compared to HK$67.7 million and HK$33.4 million respectively for the previous year[21][24]. - The Group's electronic products trading generated a turnover of approximately HK$8.1 million for the year ended 31 March 2020, a significant increase from approximately HK$234,000 in the previous year[21][24]. - The money lending and factoring business had an outstanding principal amount of approximately HK$67.6 million and factoring receivables of approximately HK$27.0 million as of 31 March 2020, with an interest income of approximately HK$14.1 million and a profit of approximately HK$9.7 million for the year[23][25]. - The finance leasing business maintained a portfolio with an outstanding principal amount of approximately RMB159.7 million (approximately HK$174.1 million) as of 31 March 2020, contributing approximately HK$25.7 million in turnover and approximately HK$18.2 million in profit[26]. - The financial services business contributed a turnover of approximately HK$37.4 million and a profit of approximately HK$27.7 million for the year ended 31 March 2020[26]. Market and Economic Outlook - The Group remains optimistic about the economic recovery in Hong Kong and the PRC following the COVID-19 outbreak, with no material adverse impact on financial statements reported as of the report date[12]. - The average daily turnover of the Hong Kong stock market for the first three months of 2020 was HK$120.9 billion, an increase of 20% compared to HK$101.1 billion for the same period last year[28]. - The Group will continue to monitor the impact of COVID-19 on its trading business and adjust strategies as necessary[22][29]. - The Board believes that the finance leasing market in the PRC has significant business potential and expects accelerating growth in the coming years[26]. Risk Management and Compliance - Financial risk factors include credit risk, market risk, and liquidity risk, with detailed management measures outlined in the financial statements[47]. - The Group has maintained compliance with the Corporate Governance Code for the year ended 31 March 2020[57]. - The Group strictly complies with all relevant laws and regulations in Hong Kong and the PRC regarding employment, with no significant noncompliance reported during the reporting year[187]. - The Group complies with anti-corruption laws and has established policies for reporting suspected corruption and fraud[197]. - The Group has established Anti-Money Laundering and Counter-Terrorist Financing (AML/CTF) policies and procedures to combat money laundering and terrorist financing activities comprehensively[198]. Environmental, Social, and Governance (ESG) Initiatives - The ESG report covers the reporting period from April 1, 2019, to March 31, 2020, prepared in accordance with the ESG Reporting Guide provided by HKEx[129]. - The Group is committed to complying with applicable environmental protection laws and regulations, with no material non-compliance reported during the Reporting Year[151]. - The Group has established policies to reduce the use of natural resources, promoting resource conservation among staff[153]. - The Group's emissions and resource management policies are designed to maintain high standards of environmental protection awareness[153]. - The Group aims to enhance its policies and practices to meet ESG objectives effectively[143]. - The Group's vehicle fuel consumption totaled 19,800 liters during the Reporting Year, representing a 22% decrease compared to the previous year due to reduced business travel amid the COVID-19 pandemic[155]. - Total greenhouse gas emissions for the Group were 126.6 tonnes CO2-e in 2020, a significant decrease of 47% compared to 239.1 tonnes CO2-e in 2019[161]. Corporate Governance and Board Structure - The Board currently comprises 2 executive Directors and 3 independent non-executive Directors, bringing a balance of valuable and diversified expertise[62]. - The Company has established a nomination committee to assist in reviewing the composition and independence of the Board[69]. - The Company has adopted a Board diversity policy, considering factors such as talents, skills, experience, independence, and knowledge for Board appointments[74]. - The Directors confirm that the consolidated financial statements for the year ended 31 March 2020 have been prepared in accordance with Hong Kong Financial Reporting Standards[77]. - The Company Secretary ensures compliance with Listing Rules and prepares annual and interim reports within the stipulated time limits[81]. Employee and Labor Practices - The Group employed approximately 57 employees as of 31 March 2020, a decrease from 60 employees in 2019[49]. - Continuous professional training was provided to accounting and management staff to enhance their technical knowledge and skills, covering corporate governance and Hong Kong accounting standards[192]. - The Group strictly prohibits child and forced labor, adhering to the Employment Ordinance in Hong Kong and relevant laws in the PRC[195]. - No cases of child labor or forced labor were reported during the Reporting Year[195]. Shareholder Communication and Engagement - The Company emphasizes the importance of ongoing communication with shareholders and investors through various channels, primarily via interim and annual reports[122]. - All shareholder communications, including interim and annual reports, are available on the Company's website, ensuring transparency[124]. - The Company’s annual general meeting serves as a platform for shareholders to exchange views with the Board and management[123].

Financial Performance - Revenue for the six months ended September 30, 2019, was HKD 104,370,000, a significant increase of 191% compared to HKD 35,871,000 in the same period of 2018[6] - Gross profit for the same period was HKD 23,121,000, up from HKD 16,227,000, reflecting a gross margin improvement[6] - Operating loss for the six months was HKD 7,253,000, compared to a loss of HKD 2,574,000 in the previous year[7] - The total comprehensive loss for the period was HKD 50,883,000, a decrease from HKD 72,772,000 in the prior year[7] - Basic and diluted loss per share was HKD 0.32, compared to HKD 0.09 in the same period last year[7] - Total expenses for the six months ended September 30, 2019, amounted to HKD 100,052,000, compared to HKD 37,186,000 in 2018, reflecting an increase of 169%[37] - The company reported a loss attributable to shareholders of HKD 11,603,000 for the six months ended September 30, 2019, compared to a loss of HKD 3,150,000 in the same period of 2018[42] - The company reported a pre-tax loss of approximately HKD 7.7 million for the current period, an increase from a loss of approximately HKD 2.6 million in the previous year[72] Assets and Liabilities - Total assets as of September 30, 2019, were HKD 764,906,000, down from HKD 806,474,000 as of March 31, 2019[8] - Total equity decreased to HKD 697,391,000 from HKD 748,298,000 in the previous reporting period[8] - Total liabilities increased to HKD 67,515,000 as of September 30, 2019, compared to HKD 58,176,000 as of March 31, 2019, representing a growth of 16.1%[9] - The company's total equity and liabilities amounted to HKD 764,906,000, down from HKD 806,474,000 as of March 31, 2019, indicating a decrease of 5.2%[9] - The total value of current assets net of current liabilities was HKD 711,942,000, a decrease from HKD 751,321,000 as of March 31, 2019[9] - The company's total assets decreased to HKD 764,906,000 from HKD 806,474,000, indicating a decline of 5.2%[9] Cash Flow - Net cash generated from operating activities was HKD 32,817,000 for the six months ended September 30, 2019, a significant recovery from a cash outflow of HKD 81,571,000 in the same period last year[11] - Cash and cash equivalents at the end of the period increased to HKD 148,968,000, up from HKD 128,876,000 year-on-year, reflecting a growth of 15.6%[11] - The company reported a net cash inflow from financing activities of HKD 3,711,000, compared to a cash outflow of HKD 2,561,000 in the previous year[11] Segment Performance - The operating profit for the group was HKD 4,391,000, compared to an operating loss of HKD 15,667,000 in the previous period, indicating a significant turnaround[29] - The ship leasing segment generated revenue of HKD 1,763,000, up from HKD 1,538,000 in the previous year, reflecting a growth of 15%[29] - Trade segment revenue surged to HKD 81,453,000, a substantial increase from HKD 17,473,000, marking a growth of 366%[29] - The lending and factoring segment reported revenue of HKD 6,507,000, compared to HKD 4,310,000, representing a growth of 51%[29] - The financing lease segment generated revenue of HKD 14,647,000, up from HKD 12,550,000, indicating a growth of 17%[29] Accounting Standards and Changes - The group adopted the new accounting standard HKFRS 16 Leases, which impacted the recognition of right-of-use assets and lease liabilities starting from April 1, 2019[21] - The adoption of HKFRS 16 resulted in an increase of HKD 9,851,000 in right-of-use assets[18] - Lease liabilities increased by HKD 9,538,000, with current liabilities of HKD 3,522,000 and non-current liabilities of HKD 6,016,000[19] - The group chose to apply the modified retrospective approach for the adoption of HKFRS 16, with no significant impact on previously reported financial statements[16] Shareholder Information - The company reported a total issued and paid-up share capital of 3,680,600,000 shares, valued at HKD 73,612,000 as of September 30, 2019[57] - Ms. Zheng Juhua holds 834,767,140 shares, representing 22.68% of the company's equity[94] - The major shareholder, Superb Smart Limited, also holds 834,767,140 shares, equating to 22.68% ownership[94] - Junlong Holdings Limited and Managecorp Limited each hold 341,132,000 shares, accounting for 9.26% of the equity[94] - Sea Venture Investments Limited holds 294,416,000 shares, representing 7.99% of the company's equity[95] Corporate Governance - The company has fully complied with the corporate governance code as per the listing rules during the six months ending September 30, 2019[98] - The audit committee consists of three independent non-executive directors and has reviewed the accounting principles and internal controls for the six months ending September 30, 2019[103] - The board of directors has confirmed compliance with the securities trading code during the six months ending September 30, 2019[102]

Financial Performance - The Group recorded an overall turnover of approximately HK$108.2 million for the year ended 31 March 2019, with a loss of approximately HK$36.0 million[7]. - Turnover from the trading business significantly decreased to approximately HK$67.7 million during the year[7]. - The Group recorded a turnover of approximately HK$108.2 million and a gross profit of approximately HK$37.9 million for the year ended 31 March 2019, compared to approximately HK$463.3 million and HK$30.6 million for the previous year[12]. - The loss for the year was narrowed to approximately HK$36.0 million, down from approximately HK$54.6 million in the previous year, mainly due to an increase in gross profit and a decrease in administrative expenses[12]. - The Group's trading business recorded a turnover of approximately HK$67.7 million with a loss of approximately HK$33.4 million, compared to approximately HK$427.5 million and a loss of approximately HK$19.1 million in the previous year[16]. - The significant increase in loss in the trading business was mainly due to an increase in provision for impairment of trade receivables amounting to approximately HK$20.9 million[16]. - The Group's food trading business recorded a turnover of approximately HK$67.4 million, down from approximately HK$253.2 million in the previous year, attributed to serious smuggling issues and intense competition in the seafood market[19]. - The electronic products trading business recorded a turnover of approximately HK$234,000, a significant decrease from approximately HK$55.7 million in the previous year, due to trade barriers between the PRC and the United States[20]. Business Strategy and Opportunities - The Financial Services Business continued to provide a sustainable income stream with steady growth throughout the year[7]. - The Company entered into an acquisition agreement on 7 January 2019 to acquire a company engaged in securities brokerage, asset management, and investment advisory services[8]. - The acquisition is expected to diversify the Group's business within the financial services sector and enhance its revenue stream[8]. - The Group plans to actively identify and explore other investment and business opportunities to broaden its assets and revenue base[9]. - The Group aims to cautiously search for investment opportunities to improve business operations and profitability[9]. Assets and Liabilities - The total assets of the Group as of 31 March 2019 amounted to approximately HK$806.5 million, down from HK$1,007.9 million in 2018[12]. - The net assets of the Group as of 31 March 2019 were approximately HK$748.3 million, compared to HK$869.2 million in 2018[12]. - As of 31 March 2019, the Group had cash and bank balances of approximately HK$140.3 million, down from HK$172.8 million in 2018, with total borrowings of approximately HK$4.6 million[31]. - The Group's gearing ratio was 0.61% as of 31 March 2019, slightly down from 0.62% in the previous year, indicating stable financial leverage[31]. - The liquidity ratio improved to 10.74 as of 31 March 2019, compared to 5.24 in 2018, primarily due to a decrease in trade payables and other liabilities[31]. Corporate Governance - The Company has been in compliance with all code provisions set out in the Corporate Governance Code for the year ended March 31, 2019[44]. - The Board currently comprises 2 executive Directors and 3 independent non-executive Directors, ensuring a balance of skills and experience[49]. - No claims have been made against the Directors throughout the year ended March 31, 2019, indicating effective governance and risk management[50]. - The Chairman and CEO positions are held by different individuals to maintain independence and balanced decision-making[54]. - Each independent non-executive Director has confirmed their independence annually, in accordance with Listing Rules[56]. - The Company has arranged appropriate insurance cover for Directors' liabilities, which will be reviewed and renewed annually[48]. - The Board is responsible for monitoring the Company's performance, position, and prospects, with monthly updates provided to all Directors[46]. - The CEO is responsible for the day-to-day management and operations of the Company, including financial and operational performance monitoring[55]. Risk Management - The Group's financial risk factors include credit risk, market risk, and liquidity risk, with management measures detailed in the financial statements[40]. - The risk management and internal control systems were reviewed and considered effective and adequate by the Board through the Audit Committee[92]. - The Group employs a complete process style of risk management, including risk identification, assessment, evaluation, and treatment[92]. - The established risk management systems are designed to manage risks rather than eliminate them, providing reasonable assurance against material misstatement[92]. Environmental, Social, and Governance (ESG) - The ESG Report covers the reporting period from April 1, 2018, to March 31, 2019, prepared in accordance with the ESG Reporting Guide of the Stock Exchange of Hong Kong[103]. - The Group's ESG strategy aims to create long-term value for stakeholders, with a dedicated ESG working group responsible for formulating policies and initiatives[110]. - Stakeholder engagement is a continuous process, identifying key stakeholders and understanding their expectations to improve corporate social responsibilities[106]. - The materiality assessment helps prioritize relevant ESG issues, ensuring adequate resources are allocated to meet strategic plans[110]. - The Group maintains ongoing dialogues with shareholders and investors through various communication channels, including interim and annual reports[100]. - The Group's commitment to sustainability includes support for environmental protection and community engagement[106]. - The Group has implemented policies to minimize air emissions and GHG emissions, including monitoring travel logs and fuel consumption of motor vehicles[124]. - The Group has established environmental protection policies compliant with applicable regulations and standards recommended by the IMO[139]. Employee and Community Engagement - The Group employed approximately 60 employees and continues to provide regular training to enhance workforce capabilities[42]. - Staff training includes continuous professional training courses to maintain and enhance technical knowledge and professional skills[156]. - The Group regularly organizes employee social activities to foster loyalty and teamwork among staff[155]. - The Group actively participates in community activities, including food and moon cake donation campaigns for the elderly and needy[166]. - Staff are encouraged to participate in blood donation campaigns, promoting a culture of giving back to the community[166]. Compliance and Legal Matters - The Group strictly complies with all applicable anti-money laundering laws and regulations in Hong Kong, including the Anti-Money Laundering and Counter-Terrorist Financing Ordinance[159]. - During the Reporting Period, the Group was not aware of any incident of non-compliance with relevant laws and regulations relating to bribery, extortion, fraud, and money laundering that would have significant impact on the Group[160]. - The Group has established and implemented policies and procedures on risk assessment, customer due diligence measures, ongoing monitoring of customers, suspicious transactions reporting, record keeping, and staff training[159]. - The Group prohibits the employment of child labour and strictly adheres to the Employment Ordinance in Hong Kong and relevant labour laws in the PRC[158]. - The Group has not experienced any case of child labour or forced labour during the Reporting Period[158].