Market Capitalization and Financial Performance - As of March 31, 2024, the market capitalization was HK$404,291,840, with a closing price of HK$0.80[11] - As of June 30, 2024, the market capitalization decreased to HK$343,648,064, with a closing price of HK$0.68[11] - The Company reported reserves of approximately RMB 306,300,000 available for distribution to shareholders as of March 31, 2024[165] - The total dividend paid/payable for this year amounted to HK2.0 cents per share, reflecting a decrease from the previous year's total of HK4.0 cents per share[82][86] - The Board has recommended a final dividend of HK2.0 cents per share, down from HK4.0 cents per share in the previous year, resulting in a total dividend of HK2.0 cents per share for the year[82][86] Corporate Governance and Compliance - The Group has applied the principles of the Corporate Governance Code and complied with all code provisions for the year ended 31 March 2024[92][95] - The Company is committed to high standards of corporate governance to safeguard shareholder interests and enhance corporate value[91][95] - The Board has reviewed the Shareholders Communication Policy, confirming its effectiveness during the year[50] - The Group has recognized the importance of compliance with regulatory requirements and has implemented systems to ensure ongoing adherence[171] - The Group has implemented anti-corruption and anti-bribery measures, with internal audits conducted to ensure compliance[70] Risk Management - The Group's success risks are categorized into four types: strategic, operational, compliance, and financial & reporting[28] - Operational risks include inefficient resource use and increased material costs, which can negatively impact profitability[28] - Compliance risks involve violations of laws in areas such as environmental regulations and employee health & safety[28] - Financial risks encompass currency exchange fluctuations, funding issues, and cash flow management[28] - The Company has implemented an Enterprise Risk Management (ERM) framework to enhance its ability to manage existing and emerging risks[30] - The ERM process ensures that all business risks are identified, measured, and managed effectively within a structured framework[30] - The risk assessment techniques are regularly monitored to verify their proper application and effectiveness[42] - The Group adopts a mixed top-down and bottom-up approach for risk analysis, identifying key risks and uncertainties in the PRC real estate market[195] Operational Management - The company has conducted operational management audits focusing on project tendering, budgeting, and other high-risk areas during the year[26] - The internal audit department reported key controls and risks to the board and audit committee, ensuring deficiencies are rectified[26] - The Group's management team closely monitors project quality, progress, safety, and materials to reduce costs and deliver quality properties[154] - The Group's professional management team strictly supervises project development processes to reduce costs and enhance competitiveness in the market[178] - The Group has established a professional team to maintain close communication with relevant authorities and study policy trends to adopt a more flexible sales approach[177] Employee Management and Development - The group had approximately 60 employees on average during the year, with remuneration packages including salary and bonuses based on performance assessments[117] - The group has adopted a performance-based bonus system to incentivize employees with outstanding performance[123] - The company has established a "Cooperative Home" program to encourage talent retention by assisting employees in purchasing homes[121] - The group has provided continuous training courses to its employees to enhance their skills[118] - The Group ensures reasonable remuneration for all staff and regularly reviews its policies on remuneration and benefits[174] Future Outlook and Strategic Plans - The company plans to announce the 2023/24 results on June 18, 2024[18] - The last day to register for the entitlement to attend and vote at the 2023/24 annual general meeting is August 23, 2024[11] - The annual general meeting is scheduled for August 30, 2024[11] - The Group is focusing on the sales of Phases 4 and 5 of Castfast Villas in Dongguan and development in the Greater Bay Area, aiming for financial stability and substantial investment returns[199] - The timing of property sales and the progress of development projects may cause fluctuations in financial performance, complicating future financial predictions[198] Shareholder and Market Relations - The Company provides appropriate communication channels to shareholders, ensuring transparency and accountability[50] - The Group maintains a customer complaint handling mechanism to improve service quality[174] - The Group has a good relationship with customers and has established a complaint handling mechanism to improve service quality[196] Miscellaneous - The company entered into a disposal agreement to sell its wholly-owned subsidiary for a consideration of RMB19,800,000, which was approved by independent shareholders[116] - There are no significant future investment or capital asset plans as of March 31, 2024[114] - The Group's operations are primarily conducted through subsidiaries in Hong Kong and Mainland China, complying with relevant laws and regulations in these regions[172] - The Group's operations are subject to extensive government policies and regulations, particularly in the PRC property sector, making it susceptible to adverse policy changes[197] - The maximum number of shares that can be issued under the new share award plan is capped at 10% of the issued share capital, equating to 50,536,480 shares[181] - No share options were granted, exercised, or lapsed under the new share award plan since its adoption on August 30, 2023[193]

Financial Performance - The company's property sales revenue for 2024 was RMB 226,877,000, a decrease from RMB 700,751,000 in 2023[6] - Revenue for the fiscal year ended March 31, 2024, was RMB 226,877,000, a decrease of 68% compared to RMB 700,751,000 in the previous year[33] - Profit attributable to equity holders for the same period was RMB 40,069,000, down 78% from RMB 180,846,000[33] - Basic earnings per share decreased to RMB 7.9, a 78% decline from RMB 35.8[33] - The company reported a gross profit of RMB 145,724,000, significantly lower than RMB 516,932,000 in the previous year[47] - The total income tax expense for 2024 was RMB 46,016,000, significantly lower than RMB 268,279,000 in 2023[10] - The financial income for 2024 was RMB 302,000, a decrease from RMB 6,419,000 in 2023[8] - The company reported a net financial cost of RMB (2,581,000) for 2024, compared to a net income of RMB 385,000 in 2023[8] - The company will propose a final dividend of 2.0 HKD cents per share, compared to 4.0 HKD cents in the previous year, reflecting a decrease in profitability[94] - The proposed final dividend is HKD 0.02 per share, totaling an annual dividend of HKD 0.02 per share, down from HKD 0.04 per share in the previous fiscal year[102] Cash and Assets Management - As of March 31, 2024, the total cash and bank deposits amounted to RMB 175,162,000, down from RMB 267,835,000 in 2023[17] - The company’s restricted cash decreased to RMB 3,796,000 in 2024 from RMB 10,503,000 in 2023[17] - The company currently holds cash and bank deposits of approximately RMB 175,162,000, sufficient to meet operational and capital expenditure needs and to make strategic investments when opportunities arise[97] - The company maintains a net cash position, with no applicable net debt ratio as of March 31, 2024[123] Inventory and Performance Obligations - The remaining performance obligations under contracts amounted to RMB 38,566,000 as of March 31, 2024, down from RMB 211,353,000 in 2023[23] - The company’s inventory of properties held for sale increased to RMB 174,698,000 in 2024 from RMB 166,207,000 in 2023[16] - The company reported a provision for inventory impairment loss of RMB 11,999,000 for 2024, compared to zero in 2023[16] - Administrative expenses decreased by approximately 33%, equivalent to RMB 15,000,000, demonstrating improved operational efficiency[118] Market Conditions and Strategy - The overall real estate market is experiencing significant volatility, with a substantial decline in contract sales volume and area throughout the year[59] - Profit attributable to equity holders was RMB 40,069,000, down about 78% from RMB 180,846,000 in the prior year, primarily due to external factors such as economic slowdown and a weak real estate market[75] - The company aims to maintain profitability and maximize shareholder value despite market challenges, focusing on resource optimization and operational efficiency[57] - The company aims to focus on projects in the Greater Bay Area and implement flexible marketing strategies to optimize pricing and reduce inventory[75] - The company is exploring a diversified business model in response to government rural revitalization policies, integrating culture, tourism, commerce, and residential elements[95] - The real estate industry faces ongoing operational challenges despite positive signals from national and local policies aimed at stimulating market demand[117] Organizational Structure and Human Resources - The company has a streamlined organizational structure and an efficient management team to enhance operational and competitive capabilities[75] - The company employs an average of 60 employees, with compensation based on qualifications, positions, and performance evaluations[127] Customer Base - The company had no single customer contributing over 10% of total revenue, indicating a diversified customer base[7] Land and Project Development - The total land reserve as of March 31, 2024, was approximately 242,494 square meters, down from 253,594 square meters a year earlier[55] - The company delivered 29 units in the Dongguan Jiahuai Garden Phase V, generating revenue of RMB 116,964,000, with an average selling price of approximately RMB 28,000 per square meter[56] - The company has delivered 38 units in the Dongguan project, generating revenue of RMB 95,109,000, with an average selling price of approximately RMB 26,300 per square meter[76] - The company has completed the Huizhou project with a total saleable area of approximately 30,300 square meters, generating revenue of RMB 5,285,000 from 8 delivered units[90] Future Plans - The company plans to sell its wholly-owned subsidiary for RMB 19,800,000, which is expected to streamline the corporate structure and reduce management costs[92] - The company continues to monitor foreign exchange risks, particularly related to USD and HKD, and aims to minimize currency conversion risks[124]

Financial Performance - Revenue for the six months ended September 30, 2023, was RMB 102,224, a decrease of 78.4% compared to RMB 473,010 in 2022[4] - Gross profit for the same period was RMB 69,678, down 80.3% from RMB 354,433 in 2022[4] - Operating profit decreased to RMB 49,502, a decline of 85.0% from RMB 329,791 in the previous year[4] - Profit for the period was RMB 22,604, representing a decrease of 84.2% compared to RMB 143,127 in 2022[4] - Finance income for the period was RMB 1,329, down 62.1% from RMB 3,507 in 2022[4] - The total income tax charge for the six months ended 30 September 2023 was RMB 28,159,000, compared to RMB 187,986,000 in the previous year, representing a decrease of 85%[134] - Basic earnings per share for the six months ended 30 September 2023 was 4.5 RMB cents, down from 28.3 RMB cents in the previous year, reflecting a decline of 84.1%[142] - Profit attributable to equity shareholders for the same period was RMB 22,604,000, down approximately 84% from RMB 143,127,000 in the previous year[40] Comprehensive Income - Other comprehensive income for the period was RMB 2,827, compared to a loss of RMB 42,104 in the same period last year[6] - The Group reported a total comprehensive income of RMB 25,431,000 for the period, which includes a profit of RMB 22,604,000 and other comprehensive income of RMB 2,827,000[67] Cash Flow and Liquidity - For the six months ended September 30, 2023, the net cash used in operating activities was RMB (4,992) thousand, compared to RMB 50,759 thousand generated in the same period of 2022[1] - The net cash used in investing activities amounted to RMB (70,687) thousand, an increase from RMB (60,359) thousand in the prior year[1] - The net cash generated from financing activities was RMB 4,863 thousand, a significant recovery from RMB (99,418) thousand used in the same period last year[1] - The total cash and cash equivalents at the end of the period were RMB 204,047 thousand, down from RMB 369,644 thousand at the end of September 2022[1] - The Group's cash and bank deposits as of 30 September 2023 amounted to RMB 195,684,000, down from RMB 252,940,000 as of 31 March 2023, a decline of 22.6%[122] - The Group's cash at bank and in hand decreased from RMB 257,332,000 to RMB 191,567,000, reflecting a significant reduction in liquidity[182] - The Group aims to maintain a strong liquidity position to capture future growth opportunities[190] Operational Strategy - The company is focusing on market expansion and new product development strategies to improve future performance[4] - The interim report indicates a strategic shift in operations to adapt to changing market conditions[4] - The Group aims to explore sales channels and implement precise sales strategies to achieve operating targets for the year 2023/2024[160] - The Group is focused on renewal projects in the Greater Bay Area, which are expected to have greater market resilience and growth potential[157] - The Group plans to explore a new business model integrating culture, tourism, and commerce, responding to the government's rural revival policy to enhance project quality and diversify growth[186] Property Development - Phase 4 of Castfast Villas, Dongguan delivered 16 units, generating revenue of RMB41,512,000 with an average selling price of approximately RMB28,000 per sq.m.[43] - Phase 5 of Castfast Villas, Dongguan delivered 14 units, recording revenue of RMB58,907,000 with an average selling price of approximately RMB28,600 per sq.m.[48] - Louvre Mansion, Huizhou completed with a total saleable area of approximately 30,300 sq.m., delivering 3 units and generating revenue of RMB1,805,000[49] - Revenue from property sales for the six months ended September 30, 2023, is not explicitly stated but is derived from the income from sales net of taxes and discounts[102] - Properties under development for sale amounted to RMB170,487,000, an increase from RMB166,207,000 in the previous period[170] - Completed properties held for sale decreased to RMB841,787,000 from RMB884,819,000 in the previous period[170] Financial Position - The Group's outstanding guarantees to banks for mortgage arrangements amounted to RMB398,707,000 as of 30 September 2023, down from RMB515,657,000 as of 31 March 2023[61] - The Group's total interest-bearing bank borrowings are approximately RMB18,892,000, which is due for repayment in December 2023[161] - The Group's net gearing ratio was not applicable as it maintained a net cash position, with total bank borrowings of approximately RMB 18,892,000 due for repayment in December 2023[198] - The Group's financial resources are expected to support current operations and capital expenditures, ensuring readiness for strategic investments[200] Human Resources - The company reported wages and salaries of RMB 8,932 thousand for the six months ended September 30, 2023, compared to RMB 8,077 thousand in the same period of 2022[110] - The contributions to the defined contribution retirement plan were RMB 374 thousand, slightly up from RMB 373 thousand in the previous year[110] - The Group continues to enhance its operational efficiency through talent recruitment and training, aiming to improve product quality[82] Market Outlook - The Group anticipates that the real estate market will transition from a state of fluctuation to equilibrium, supported by government policies, indicating a shift towards stable and healthy development[185] - The Group will maintain a prudent investment approach while controlling financial risks and enhancing operational efficiency[160] Corporate Governance - The Board does not recommend the payment of any interim dividend for the six months ended 30 September 2023[39] - The Group declared no interim dividend for the period, compared to RMB 65,000,000 declared in the same period of 2022[88] - The Group has not adopted any new standards or interpretations that have not yet come into effect during the accounting period[123] - The Group's business philosophy emphasizes resilience and a focus on achieving synergy for long-term development[197]

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佈的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示不會就因本公佈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。 KRP Development Holdings Limited 嘉創房地產控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：2421） 截至二零二三年九月三十日止六個月 未經審核中期業績 截至九月三十日止六個月 二零二三年 二零二二年 百分比變動 收入（人民幣千元） 102,224 473,010 -78% 權益持有人應佔溢利 （人民幣千元） 22,604 143,127 -84% 每股基本盈利（人民幣分） 4.5 28.3 -84% ...

Financial Performance - Revenue for the fiscal year 2022/23 was RMB 701 million, a decrease of 9.7% from RMB 776 million in 2021/22[19] - Net profit for the fiscal year 2022/23 was RMB 181 million, down 26% from RMB 244 million in the previous year[19] - Basic earnings per share decreased to RMB 35.8 cents from RMB 48.2 cents year-on-year[19] - The final proposed dividend for the fiscal year 2022/23 is 4.0 HK cents per share, with no dividend declared in the previous year[19] - For the year ended 31 March 2023, the Group's revenue was RMB 700,751,000, a decrease of approximately 10% compared to RMB 775,555,000 for the year ended 31 March 2022[33] - Profit attributable to equity shareholders was RMB 180,846,000, compared to RMB 243,660,000 for the year ended 31 March 2022[33] - The gross profit margin for the year was 74%, down from 76% in the previous year[33] Assets and Market Capitalization - Total assets as of 31 March 2023 were RMB 1,975 million, compared to RMB 2,201 million as of 31 March 2022[24] - The market capitalization as of 31 March 2023 was HK$ 707.5 million, which decreased to HK$ 576.1 million by 30 June 2023[14] - The company’s share price closed at HK$ 1.40 on 31 March 2023, dropping to HK$ 1.14 by 30 June 2023[14] Strategic Initiatives and Future Outlook - The company is focusing on market expansion and new product development as part of its strategic initiatives[19] - Future outlook includes a commitment to improving operational efficiency and exploring potential mergers and acquisitions[19] - The Group expects the real estate market to recover due to government support measures and the relaxation of property market control policies[36] - The Group aims to actively seek partners that align with its strategic needs to enhance asset value and stimulate economic prosperity in the development region[64] Operational Efficiency and Development - The Group is enhancing its operational efficiency by monitoring development progress and costs across various phases of project management[39] - The Group is focusing on developing high-quality properties that meet diverse market demands, including the "Villas" and "Mansion" series[39] - The Group is increasing investment in urban planning and building design to align with local government policies for urban renewal[41] - The Group recorded a net cash inflow from operations and fully settled its bank borrowings during the year, enhancing its risk tolerance and boosting investor confidence[44] Project Performance - Phase 3 of Castfast Villas, Dongguan, generated revenue of RMB14,758,000 from 5 units delivered, with an average selling price of approximately RMB26,100 per sq.m.[44] - Phase 4 of Castfast Villas, Dongguan, delivered 71 units and recorded revenue of RMB198,248,000, with an average selling price of approximately RMB29,600 per sq.m.[44] - Phase 5 of Castfast Villas, Dongguan, delivered 121 units and recorded revenue of RMB472,102,000, with an average selling price of approximately RMB31,600 per sq.m.[47] - Louvre Mansion, Huizhou, completed with a total saleable area of approximately 30,300 sq.m., recorded revenue of RMB15,643,000 from 26 units delivered, with an average selling price of approximately RMB7,100 per sq.m.[47] - The Group plans to focus on the sales of Phases 4 and 5 of Castfast Villas, Dongguan, while maintaining a strong financial position and prudent financial management[59] Governance and Board Structure - As of March 31, 2023, the Board consisted of eight Directors, including four executive Directors, one non-executive Director, and three independent non-executive Directors[98] - The Board is committed to enhancing Shareholders' value and providing superior products and services, with collective responsibility for the Group's overall strategy and performance[102] - The Company has adopted an independent nomination policy to ensure transparency in the appointment and re-election of directors[112] - The Board established an audit committee, a nomination committee, and a remuneration committee to enhance its effectiveness and encourage active participation[104] - The Board reviewed its structure, size, and composition during the Year and found it well balanced and diversified[109] Risk Management - The Group's Enterprise Risk Management (ERM) framework helps identify potential events affecting the enterprise and manage associated risks and opportunities[180] - The Group faces operational risks including product supply disruptions and inefficient resource use, which could increase material costs[178] - Financial risks include currency exchange fluctuations and potential financial misstatements impacting the Group's financial reporting[178] - The company emphasizes the importance of effective risk management to maintain compliance with laws and regulations and ensure quality products[185] - The risk management framework is designed to support value creation by enabling management to respond effectively to future uncertainties[185]

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佈的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示不會就因本公佈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。 KRP Development Holdings Limited 嘉創房地產控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：2421） 截至二零二三年三月三十一日止年度業績公佈 財務概要 二零二三年 二零二二年 百分比變動 收入（人民幣千元） 700,751 775,555 -10% 本公司權益持有人應佔溢利 （人民幣千元） 180,846 243,660 -26% 每股基本盈利（人民幣分） 35.8 48.2 -26% 每股末期股息（港仙） 4.0 不適用 不適用 ...