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，概不對因本公告全部或任何部份內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 GOLDEN FAITH GROUP HOLDINGS LIMITED 高豐集團控股有限公司 （於開曼群島註冊成立之有限公司） （股份代號：2863） 截至二零二三年三月三十一日止六個月之 中期業績公告 高豐集團控股有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然公佈本公司及其附屬 公司（統稱「本集團」）截至二零二三年三月三十一日止六個月（「期間」）之未經審核簡明綜 合業績。本公司審核委員會已審閱該等中期業績。 簡明綜合損益及其他全面收益表 截至二零二三年三月三十一日止六個月 截至三月三十一日止六個月 二零二三年 二零二二年 附註 千港元 千港元 （未經審核） （未經審核） 收益 3 367,057 148,144 銷售成本 (343,248) (123,464) 毛利 23,809 24,680 ...

Stock Options and Share Issuance - The total number of stock options granted but not yet exercised under the stock option plan is 9,319,000, representing approximately 1.40% of the issued shares[11] - The maximum number of shares that may be issued upon the exercise of all stock options under the plan and other stock option plans is 66,570,100 shares, equivalent to 10% of the total issued shares on the date of listing on the Stock Exchange[11] - The total number of stock options granted during the year is 11,710,000, with 9,510,000 exercised and 9,319,000 remaining unexercised as of September 30, 2022[1] - The exercise price for stock options granted on March 3, 2022, is HKD 0.276, with a closing price of HKD 0.260 on the grant date[1] - The stock option plan allows for a maximum issuance of shares not exceeding 30% of the issued shares at any time, subject to the plan limit[11] - Each participant is subject to an individual limit of 1% of the issued shares for stock options granted, exercised, or canceled within any 12-month period[12] - The stock option plan aims to provide participants with ownership interests and incentives to contribute to the company's value and shareholder interests[9] Shareholder Structure - The largest shareholder, Mr. Gao Junxi, holds 432,363,000 shares, representing 65.76% of the company's issued shares[17] - Mr. Gao Junxi, through his wholly-owned company, holds an additional 302,747,000 shares, representing 45.48% of the company's issued shares[25] - Mr. Weng Anhua holds 39,424,000 shares, representing 5.92% of the company's issued shares[25] - Mr. Li Jiahui holds 12,801,000 shares, representing 2.37% of the company's issued shares[25] Financial Performance - Revenue for the fiscal year 2022 increased by HKD 93.7 million or 36.8% to HKD 348.6 million compared to the fiscal year 2021[44] - Gross profit increased by HKD 2.5 million in fiscal year 2022, but the gross margin decreased from 17.2% in fiscal year 2021 to 13.3% due to increased material, labor, and subcontracting costs impacted by COVID-19[44] - Other income increased by HKD 3.7 million to HKD 8.4 million in fiscal year 2022, primarily due to increased government subsidies from the "Employment Support Scheme"[45] - The company recorded a net other loss of HKD 8.2 million in fiscal year 2022, compared to a net other gain of HKD 6.3 million in fiscal year 2021, mainly due to reduced gains from the sale of property, plant, and equipment, and decreases in the fair value of investment properties and financial assets[46] - Administrative expenses decreased by HKD 1.3 million in fiscal year 2022, primarily due to reduced employee costs[48] - Profit and total comprehensive income decreased by HKD 3.6 million, influenced by a combination of increased gross profit, other income, reduced administrative expenses, and decreased tax expenses[49] - The company's rental income from property investments was approximately HKD 1.1 million in fiscal year 2022, down from HKD 1.4 million in fiscal year 2021[43] - The company's bank and cash balances, along with short-term bank deposits, amounted to approximately HKD 127.7 million as of September 30, 2022, compared to HKD 112.2 million in the same period last year[57] - The company's distributable reserves as of September 30, 2022, amounted to approximately HKD 95.8 million[111] - The company did not recommend paying a final dividend for the 2022 fiscal year[113] Corporate Governance - The company has received annual confirmations from controlling shareholders regarding compliance with non-compete commitments as of September 30, 2022[4] - The company has adopted a remuneration policy based on individual qualifications and contributions, with stock options as part of the incentive scheme[8] - The company has no significant transactions, arrangements, or contracts involving directors' interests during the year[5] - The company's board of directors consists of nine members, including executive, non-executive, and independent non-executive directors, with 13 board meetings held during the year[67] - The company maintains a strong corporate governance framework, adhering to the principles of the Corporate Governance Code, with regular reviews and updates to ensure compliance[65] - The company's board ensures timely dissemination of meeting agendas and necessary materials to directors, facilitating informed decision-making and effective oversight[69] - The company has not taken out insurance for potential legal actions against its directors, as the likelihood of such actions is deemed low[72] - The attendance rate for board meetings was 100% for all directors except for Mr. Han Zhenghai, who resigned on January 28, 2022, and had 0/13 attendance[73] - The audit committee held two meetings in 2022 to review the audited financial statements, risk management, internal control systems, and accounting principles[78] - The remuneration committee held two meetings in 2022 to review and recommend the remuneration policies and structures for directors and senior management[79] - The nomination committee held two meetings in 2022 to review the board's structure, size, and composition, and to assess the independence of independent non-executive directors[80] - The company encourages directors to participate in continuous professional development to enhance their knowledge and skills, with all directors complying with the Corporate Governance Code's provisions[75] - The board is responsible for maintaining effective risk management and internal control systems to safeguard the company's assets and shareholders' interests[82] - The internal audit function reviewed the effectiveness of the company's risk management and internal control systems, with findings and recommendations reported to the audit committee and board[82] - The company has not formally established a CEO position, but the executive directors effectively fulfill the CEO role, with the board reviewing the company's structure as the business grows[76] - The board is responsible for formulating and reviewing corporate governance policies, monitoring compliance with legal and regulatory requirements, and reviewing the company's adherence to the Corporate Governance Code[77] - The audit committee reviewed the company's risk management and internal control systems, as well as the accounting principles and practices adopted by the company[78] - The company's financial performance and asset and liability summary for the past five fiscal years are detailed in the annual report on page 118, extracted from the audited consolidated financial statements[84] - The company's reserve changes for the year are detailed in the consolidated statement of changes in equity on page 57 of the annual report[85] - The Risk Management Committee held one meeting during the year to oversee the risk management framework, review risk reports, and assess the effectiveness of risk control measures[87] - The company has established a disclosure mechanism to regulate the identification and confidentiality of insider information until approved by the Board for release[90] - The Board confirms its responsibility for preparing financial statements that reflect the company's financial position and performance, adhering to all relevant statutory requirements and accounting standards[91] - The external auditor's statement regarding their responsibility for the financial statements for the year ended September 30, 2022, is included in the annual report on pages 49 to 53[92] - The company's corporate governance report states that the risk management and internal control systems are effective and sufficient, and the company complies with the relevant provisions of the Corporate Governance Code[90] - The company maintains communication with analysts and institutional investors, providing them with the latest and most detailed development information, and regularly releases updates such as annual reports, interim reports, announcements, and press releases[94] - The company's Articles of Association did not undergo any significant changes during the year ended September 30, 2022[98] - The Risk Management Committee members include two executive directors and three independent non-executive directors, with full attendance records listed on page 10 of the annual report[87] Suppliers and Subcontractors - The top five suppliers accounted for 41.6% of total material costs in FY2022, down from 48.3% in FY2021[20] - The largest supplier accounted for 10.8% of total material costs in FY2022, down from 15.4% in FY2021[20] - The top five subcontractors accounted for 89.4% of total subcontracting fees in FY2022, down from 98.6% in FY2021[20] - The largest subcontractor accounted for 48.9% of total subcontracting fees in FY2022, down from 63.3% in FY2021[20] - The company has 25 suppliers located in Hong Kong, all of which are subject to environmental and social performance evaluations[190] Financial Position and Commitments - The company had no bank borrowings as of September 30, 2022, maintaining a net cash position[30] - The company's asset-liability ratio is not applicable due to its net cash position[30] - The company has no capital commitments as of September 30, 2022[52] - The company paid HKD 965,000 in audit fees to Deloitte Touche Tohmatsu for the fiscal year 2022[56] - The company's financial statements for 2022 were audited and found to be in compliance with Hong Kong Financial Reporting Standards and the Hong Kong Companies Ordinance[198] - The audit was conducted in accordance with Hong Kong Auditing Standards, and the auditors confirmed their independence from the company[199] - Key audit matters were identified based on professional judgment, focusing on the most significant issues affecting the financial statements[200] Employees and Workforce - The company's employee count increased to 808 as of September 30, 2022, up from 287 in the previous fiscal year, with 76 long-term employees and 732 short-term employees[58] - The company has 807 full-time employees (2021: 286) and 1 part-time employee (2021: 1), all located in Hong Kong[174] - Employee turnover rate by region: Hong Kong 1% (2022), 0% (2021); Outside Hong Kong 8% (2022), 0% (2021)[170] - Employee turnover rate by gender: Male 1% (2022), 9% (2021); Female 8% (2022), 0% (2021)[176] - Number of work-related injury cases (sick leave >3 days): 3 cases (2022), 2 cases (2021)[178] - Total work-related injury lost days: 622 days (2022), 159 days (2021)[178] - Employee distribution by age: Under 30 years old 113 (2022), 431 (2021); 30-50 years old 264 (2022), 37 (2021); Over 50 years old 155 (2022), 95 (2021)[168] - Employee distribution by function: Senior management 15 (2022), 779 (2021); Operations team 7 (2022), 14 (2021); Support departments 266 (2022), 14 (2021)[175] - The company has obtained ISO 45001:2018 Occupational Health and Safety Management System certification[177] - The company conducts regular safety meetings, seminars, and activities to promote workplace safety[181] - The company provides education subsidies to employees to enhance their work skills and encourage continuous learning[184] - The number of trained employees increased to 808 in 2022 from 287 in 2021, with total training hours rising to 2,424 from 1,523[186] - The average training hours per employee decreased to 3 in 2022 from 5.3 in 2021[186] - 100% of employees, including both male and female, across all functions (senior management, operations, and support) received training in both 2021 and 2022[186] Environmental, Social, and Governance (ESG) - The company's ESG report for the fiscal year ending September 30, 2022, confirmed the establishment of appropriate and effective management policies and internal control systems for ESG matters[128] - The company's ESG report for the fiscal year ending September 30, 2022, disclosed compliance with ESG reporting guidelines[128] - The company made charitable donations of approximately HKD 1.0 million in the current fiscal year, compared to HKD 1.2 million in the previous fiscal year[133] - The company has obtained ISO14001:2015 Environmental Management System certification and maintains strict compliance with environmental laws and regulations in Hong Kong[131] - The company's ESG report covers its business activities in Hong Kong, which is the primary source of revenue, and excludes construction site offices due to minimal emissions[134] - The company has implemented measures to save energy and reduce greenhouse gas emissions in response to climate change challenges[141] - The company provides competitive compensation packages, including medical allowances, transportation subsidies, group insurance, and mandatory provident funds[144] - The company emphasizes diversity, equal opportunity, and anti-discrimination in its employment practices, ensuring a zero-tolerance policy for workplace harassment[145] - The company promotes work-life balance by regularly reviewing work environments, hours, and rest periods, and encourages employee participation in social and volunteer activities[146] - The company has established a robust recruitment process based on job suitability and experience to meet current and future business needs[144] - The company conducts annual performance evaluations to determine promotions and salary adjustments based on objective performance indicators[144] - The company has preventive measures in place for extreme weather conditions, such as black rainstorm warnings and typhoon signal No. 8, to ensure safety and asset protection[141] - Total greenhouse gas emissions in 2022 were 61.20 tons, an increase from 54.70 tons in 2021, with emissions per employee decreasing to 0.08 tons from 0.19 tons[151] - The company aims to reduce greenhouse gas emissions by 2% next year[151] - Paper consumption decreased to 2,175 kg in 2022 from 2,906 kg in 2021, with paper consumption per employee dropping to 2.69 kg from 10.13 kg[156] - Diesel consumption increased to 8,024 liters in 2022 from 7,028 liters in 2021, but diesel consumption per employee decreased to 9.93 liters from 24.49 liters[161] - Gasoline consumption decreased to 1,951 liters in 2022 from 2,157 liters in 2021, with gasoline consumption per employee dropping to 2.41 liters from 7.52 liters[161] - Electricity consumption decreased to 36,152 kWh in 2022 from 40,952 kWh in 2021, with electricity consumption per employee dropping to 44.74 kWh from 142.69 kWh[161] - Water consumption decreased to 131 cubic meters in 2022 from 224 cubic meters in 2021, with water consumption per employee dropping to 0.16 cubic meters from 0.78 cubic meters[161] - The company aims to reduce energy consumption by 2% next year, including water consumption[160] - The company has implemented measures to reduce paper usage, including double-sided printing and electronic communication[159] - The company has set a target to reduce harmless waste by 2% next year[158] Customers and Revenue - The top five customers accounted for 100% of the company's total revenue in the 2022 fiscal year, with the largest customer contributing 51.6% of total revenue[117] Subsidiaries and Business Operations - The company's subsidiaries are primarily engaged in power engineering and property investment[112] - The company secured confirmed project orders totaling approximately HKD 639.1 million as of September 30, 2022, with completion dates extending over the next two years[61] - A joint venture agreement was signed on November 5, 2022, with the company agreeing to invest up to HKD 20.5 million for a 40% stake in the joint venture, focusing on IT products, services, and financial/commercial big data[62] - The company's subsidiaries' details as of September 30, 2022, are provided in Note 35 of the consolidated financial statements[121] Quality Management and Customer Feedback - The company's quality management system for low-voltage systems is ISO 9001:2015 certified, with annual internal audits conducted to ensure compliance[192] - No significant complaints regarding products or services were received during the reporting period[195] - The company has established procedures to handle customer feedback and complaints, with corrective measures taken to address any non-compliance[195] Risk Management and Internal Controls - The company has no significant contingent liabilities as of September 30, 2022, consistent with the previous fiscal year[59] - No major investment plans, acquisitions, or disposals were made as of September 30, 2022[60] - The company has no significant foreign currency risk and currently does not have a foreign currency hedging policy, but will monitor and consider hedging if necessary[51] - The company's board of directors proposed the reappointment of Deloitte Touche Tohmatsu as the company's auditor at the annual general meeting[122] - The company's property, plant, and equipment changes for the fiscal year are detailed in Note 13 of the consolidated financial statements[110] - The company's share capital changes for the fiscal year are detailed in Note 26 of the consolidated financial statements[114]

Financial Performance - The company's total revenue for the year ended September 30, 2022, was HKD 348,610,000, an increase from HKD 254,863,000 in the previous year, representing a growth of approximately 36.8%[2] - Gross profit for the year was HKD 46,353,000, compared to HKD 43,828,000 in the previous year, reflecting a growth of about 5.8%[2] - The net profit attributable to the owners of the company for the year was HKD 13,625,000, down from HKD 17,248,000 in the previous year, indicating a decrease of approximately 21.1%[2] - Basic and diluted earnings per share for the year were both HKD 1.75, compared to HKD 2.61 in the previous year, a decline of about 32.9%[2] - The company reported a profit before tax of HKD 15,830,000 for the year ended September 30, 2022, compared to HKD 22,140,000 in the previous year, reflecting a decline of 28.7%[25] - Other income increased to HKD 8,400,000 in 2022 from HKD 4,691,000 in 2021, driven by government subsidies which rose to HKD 7,150,000 from HKD 2,919,000[35] - The company recorded a net other loss of approximately HKD 8.2 million in fiscal year 2022, compared to a net other income of approximately HKD 6.3 million in fiscal year 2021, mainly due to decreased gains from the sale of properties and a decline in the fair value of investment properties[80] Assets and Liabilities - Current assets totaled HKD 314,170,000, an increase from HKD 260,378,000 in the previous year, representing a growth of approximately 20.6%[4] - Current liabilities increased to HKD 62,167,000 from HKD 30,681,000, indicating a rise of about 102.5%[4] - The company's total equity increased to HKD 305,228,000 from HKD 287,678,000, reflecting a growth of approximately 6.1%[7] - Non-current assets decreased to HKD 55,200,000 from HKD 60,519,000, a decline of about 8.5%[5] - The company’s total liabilities as of September 30, 2022, were not reclassified due to the application of the revised Hong Kong Accounting Standard No. 1[16] - The total trade receivables increased significantly to HKD 105,915,000 in 2022 from HKD 24,250,000 in 2021, indicating a substantial growth in sales[52] Revenue Sources - Revenue from electrical and maintenance engineering services for the year ended September 30, 2022, was HKD 348,610,000, an increase of 36.8% compared to HKD 254,863,000 in 2021[17] - Customer B contributed HKD 71,815,000 in revenue for 2022, while Customer C contributed HKD 179,792,000, an increase from HKD 149,493,000 in 2021, and Customer D's contribution rose to HKD 96,485,000 from HKD 56,669,000[34] Investment and Projects - The company plans to continue exploring new product development and market expansion strategies to enhance future growth prospects[10] - The company will focus on two major projects in the next two years, providing engineering services to Queen Mary Hospital and the Immigration Department Headquarters[77] - As of September 30, 2022, the confirmed project orders amounted to approximately HKD 639.1 million, with completion dates extending over the next two years[88] - The company entered into a joint venture agreement with Pangu Shengshi Internet Technology Co., Ltd., agreeing to invest up to HKD 20.5 million in the joint venture[101] Shareholder and Governance - The company did not declare any dividends for 2022, consistent with 2021[53] - No dividends were declared or proposed for the fiscal year 2022, and there have been no suggestions for dividend payments since the reporting period[103] - The audit committee reviewed the consolidated financial statements for the fiscal year 2022, ensuring compliance with accounting principles and practices[100] - The company has maintained compliance with the corporate governance code, with some deviations noted regarding the notice period for board meetings[93][94] Employee and Operational Insights - The number of employees increased to 808 as of September 30, 2022, compared to 287 in the previous year, including 76 long-term employees and 732 short-term employees[90] - The company has not faced any significant adverse environmental impacts from its operations, focusing on material procurement and labor[91] - The company has not implemented any foreign currency hedging policies, as it does not perceive significant foreign currency risk[87] Other Financial Metrics - The company’s depreciation on property, plant, and equipment for the year ended September 30, 2022, was HKD 834,000, compared to HKD 754,000 in 2021, showing an increase of 10.6%[31] - The total interest income for the year ended September 30, 2022, was HKD 103,000, a slight increase from HKD 65,000 in 2021[31] - The company’s investment properties had a fair value change of HKD 4,490,000 for the year ended September 30, 2022, compared to HKD 1,970,000 in 2021, indicating a significant increase in property value[31] - The fair value changes of investment properties resulted in a loss of HKD 4,490,000 in 2022, compared to a gain of HKD 1,970,000 in 2021[36]

Financial Performance - The group's revenue for the period was approximately HKD 148.1 million, an increase of about HKD 44.6 million or 43.0% compared to the same period last year[11]. - The gross profit increased by approximately HKD 10.7 million, with an average gross profit margin rising to about 16.7% from 13.5% in the previous year[11]. - Revenue for the six months ended March 31, 2022, was HKD 148,144 thousand, an increase of 20% compared to HKD 123,464 thousand for the same period in 2021[45]. - Gross profit for the same period was HKD 24,680 thousand, up from HKD 13,989 thousand, reflecting a significant improvement in profitability[45]. - Profit before tax increased to HKD 9,634 thousand, compared to HKD 3,768 thousand in the previous year, marking a growth of 156%[45]. - Net profit for the period was HKD 8,017 thousand, a substantial rise from HKD 3,076 thousand, indicating a year-over-year increase of 161%[45]. - Basic and diluted earnings per share were both HKD 0.010, compared to HKD 0.004 in the previous year, representing a 150% increase[45]. - The group reported a profit before tax of HKD 9,634 thousand for the same period, compared to HKD 16,384 thousand in the previous year, indicating a decrease of approximately 41.5%[74][86]. - Basic and diluted earnings per share for the period were HKD 6,755 thousand, compared to HKD 2,638 thousand in the previous year, showing an increase of approximately 156.5%[88]. Cash and Assets - As of March 31, 2022, the group's bank and cash balance was approximately HKD 133.66 million, up from HKD 112.23 million as of September 30, 2021[15]. - Cash generated from operating activities was HKD 27,076 thousand, significantly higher than HKD 11,553 thousand in the prior period[55]. - Total assets less current liabilities amounted to HKD 301,517 thousand, an increase from HKD 290,216 thousand as of September 30, 2021[46]. - Current assets net value was HKD 242,085 thousand, up from HKD 229,697 thousand, reflecting a positive trend in liquidity[46]. - The company reported a net increase in cash and cash equivalents of HKD 21,431 thousand, compared to a decrease of HKD 57,029 thousand in the previous year[55]. - Non-current assets totaled HKD 59,432 thousand, slightly down from HKD 60,519 thousand as of September 30, 2021[46]. - The group’s total assets included properties, plants, and equipment valued at HKD 1,824,000 thousand as of March 31, 2022[79]. Operational Highlights - The group completed four electrical and maintenance engineering projects, contributing approximately HKD 122.3 million, which accounted for 83.0% of the total revenue from this segment[10]. - The group has successfully secured numerous long-term contracts, contributing to stable income for the coming years[23]. - The group’s operational focus remains on power and maintenance engineering services and rental income from investment properties, with no significant changes in accounting policies[76]. Expenses and Liabilities - The administrative expenses increased by approximately HKD 0.68 million due to higher employee costs and professional fees[12]. - Employee costs totaled HKD 69,986 thousand, which includes director remuneration of HKD 3,529 thousand and other employee costs of HKD 64,256 thousand[86]. - The group incurred a tax expense of HKD 1,617 thousand, reflecting the two-tiered profits tax rate in Hong Kong[86]. - Trade payables aged 0 to 30 days increased to 9,527,000 HKD from 7,738,000 HKD in the previous year[95]. - Other payables and accrued expenses included engineering service accruals of 3,508,000 HKD, up from 1,870,000 HKD in the previous year[99]. Governance and Compliance - The company has adopted the corporate governance code as per the listing rules, ensuring accountability and transparency to shareholders[24]. - The audit committee reviewed the group's financial statements for the period, ensuring compliance with accounting principles and risk management practices[30]. - The audit committee consists of three independent non-executive directors, ensuring independence from previous or current auditors[30]. - The company confirmed that all directors adhered to the trading standards for securities during the period[29]. Shareholder Information - The board does not recommend the payment of an interim dividend for the period[22]. - The total number of issued and fully paid shares as of March 31, 2022, was 665,701,000 shares[100]. - As of March 31, 2022, Mr. Gao Junxi holds 117,658,000 shares (18.48%) and 302,747,000 shares (45.48%) through a controlled corporation[34]. Strategic Initiatives - The group is exploring business diversification to mitigate risks associated with the challenging business environment influenced by global trade tensions and the COVID-19 pandemic[23]. - The company is committed to continuously reviewing its organizational structure as the business grows, assessing the need for changes including the appointment of a CEO[24]. - The company has not established a formal CEO position, but the executive director effectively fulfills this role[24]. Other Information - There were no significant acquisitions or disposals during the period[22]. - The company did not purchase, sell, or redeem any of its listed securities during the six months ending March 31, 2022[41]. - No significant events requiring disclosure have occurred after the reporting period[41]. - The company paid approximately 177,000 HKD for furniture, equipment, and vehicles during the period, a significant decrease from 1,381,000 HKD in 2021[92]. - Trade receivables were fully settled during the period, with a credit period of 0 to 30 days for engineering service invoices[92]. - The company did not declare or propose any interim dividends during the period[92]. - The group reported a decrease in contract liabilities related to engineering service contracts, which stood at 1,320,000 HKD compared to 1,663,000 HKD in the previous year[95].

Financial Performance - The company reported a revenue of HKD 148,144,000 for the six months ended March 31, 2022, representing an increase of 43% compared to HKD 103,577,000 in the same period last year[1]. - The gross profit for the period was HKD 24,680,000, compared to HKD 13,989,000 in the previous year, indicating an increase of 76%[1]. - The net profit attributable to owners of the company was HKD 6,755,000, up from HKD 2,638,000, reflecting a growth of 156%[3]. - Basic and diluted earnings per share increased to HKD 0.010 from HKD 0.004, marking a 150% rise[3]. - The group reported total revenue of HKD 148,144,000, with HKD 147,431,000 from power and maintenance engineering services and HKD 713,000 from rental income[18]. - The group achieved a profit before tax of HKD 9,634,000 during the reporting period[18]. - The group’s total comprehensive income for the period was HKD 6,755,000, compared to HKD 2,638,000 in the previous year[27]. - The gross profit increased by approximately HKD 10.7 million, with an average gross profit margin rising to about 16.7% from 13.5% in the previous year[49]. Assets and Equity - Total assets as of March 31, 2022, amounted to HKD 301,517,000, compared to HKD 290,216,000 as of September 30, 2021, showing a growth of 4%[5]. - Current assets net value increased to HKD 242,085,000 from HKD 229,697,000, representing a rise of 5%[5]. - The company’s total equity reached HKD 298,974,000, up from HKD 287,678,000, indicating a growth of 4%[7]. - The company has maintained a strong cash position with bank balances and cash totaling HKD 107,003,000, slightly down from HKD 107,011,000[5]. - As of March 31, 2022, the company had cash and bank balances of approximately HKD 133.7 million, up from HKD 112.2 million in the previous year[54]. Expenses - The company’s administrative expenses increased, but specific figures were not disclosed in the provided data[2]. - The group incurred administrative expenses of HKD 4,652,000 and financing costs of HKD 30,000[18]. - The company's administrative expenses increased by approximately HKD 0.68 million due to higher employee costs and professional fees[50]. - The company’s financing costs increased primarily due to higher lease interest expenses[52]. Business Operations - The company continues to focus on providing electrical engineering services in Hong Kong, with no new product or technology developments mentioned in the report[11]. - The group’s operating segments include power and maintenance engineering services and rental income from investment properties[19]. - The company has undertaken four power and maintenance engineering projects, contributing approximately HKD 122.3 million, which accounted for 83.0% of the total revenue from this segment[48]. - The group’s contract assets related to engineering service contracts were HKD 111,289,000, with a provision for credit losses of HKD 5,407,000[37]. - The group’s trade receivables were settled within 0 to 30 days from the invoice date[32]. - The group’s major customers contributed over 10% of total revenue, with significant contributions from Customer A and Customer B[21]. Dividends and Governance - The group did not declare or recommend any interim dividends during the period[31]. - The company did not recommend the payment of an interim dividend for the period[63]. - The company has adopted the corporate governance code as per the listing rules, ensuring accountability and transparency to shareholders[66]. - The board of directors has confirmed that all directors have complied with the standard code for securities trading during the period[67]. - The interim results for the group have been reviewed by the audit committee but remain unaudited[69]. Future Outlook - The company plans to diversify its business to mitigate risks associated with the challenging business environment influenced by global trade tensions and the COVID-19 pandemic[65]. - The company has not engaged in any significant acquisitions or disposals during the period[63]. - The board is not aware of any significant events that require disclosure after the reporting period[71]. - The interim report will be sent to shareholders and published on the company's website at an appropriate time[72].

Financial Performance - For the fiscal year ending September 30, 2021, the group's revenue was approximately HKD 254.9 million, an increase of about HKD 10.7 million or 4.4% compared to the previous fiscal year[13]. - Rental income from property investments for the fiscal year was approximately HKD 1.4 million, up from HKD 0.11 million in the previous fiscal year[12]. - The gross profit decreased by approximately HKD 9.1 million, with the gross profit margin dropping from 21.7% in the previous fiscal year to 17.2% due to increased costs influenced by COVID-19[13]. - Other income recorded was approximately HKD 4.7 million, a decrease of about HKD 1.2 million compared to the previous fiscal year, attributed to reduced bank interest income[14]. - Total profit and comprehensive income decreased by approximately HKD 6.2 million, mainly due to a reduction in gross profit of about HKD 9.1 million and a decrease in other income of approximately HKD 1.2 million[16]. - The group confirmed project orders amounting to approximately HKD 1,171.3 million, with completion dates extending into the fiscal year 2023[30]. - The top five customers accounted for approximately 100.0% of total revenue in the fiscal year 2021, with the largest customer contributing about 58.2%[95]. - The top five suppliers represented approximately 48.3% of total material costs, with the largest supplier accounting for about 15.4%[96]. Project Development - The group completed the M+ Museum and Hong Kong Sanatorium & Hospital projects, contributing 20.2% to revenue, and commenced four new projects in the second half of the year, contributing 74.2% to revenue[13]. - Future focus will be on major construction projects in Hong Kong, including Kwong Wah Hospital and the new Taxation Headquarters[12]. - The group has sufficient orders in hand, indicating a strong pipeline for future projects[9]. Corporate Governance - The board is committed to maintaining high levels of corporate governance and has complied with the relevant regulations throughout the fiscal year[34]. - The board has complied with the listing rules requiring at least three independent non-executive directors, with at least one possessing appropriate professional qualifications or accounting expertise[38]. - All independent non-executive directors have submitted annual confirmations of their independence, and the company believes they are all independent individuals[38]. - The board has maintained a balanced skill set and experience suitable for the company's business needs[38]. - The audit committee held two meetings during the year to review the financial statements and discuss risk management and internal control systems[52]. - The company encourages directors to participate in continuous professional development to enhance their knowledge and skills[47]. - The board is responsible for establishing the company's operational and strategic direction, monitoring financial performance, and ensuring effective internal controls[39]. - The company has not established a formal CEO position, but the executive directors effectively fulfill this role[48]. - The audit committee members are all independent non-executive directors and are not members of the company's previous or current auditors[52]. - The company requires directors to submit training records annually to ensure compliance with corporate governance codes[47]. - The board will continue to review the effectiveness of the group's structure as the business grows[48]. - The remuneration committee held two meetings during the year to review the remuneration policy and structure for all directors and senior management, and to recommend these to the board for approval[53]. - The nomination committee also held two meetings to review the board's structure and composition, and to assess the independence of independent non-executive directors[55]. - The risk management committee conducted one meeting to oversee the risk management framework and review risk reports, ensuring effective risk control measures[56]. - The external auditor's fees for the year ended September 30, 2021, amounted to HKD 950,000 for audit services[61]. - The board confirmed that the risk management and internal control systems are effective and sufficient, complying with the corporate governance code[64]. - The company is committed to maintaining effective communication with shareholders and investors, providing comprehensive operational and financial performance information[68]. - The internal audit function reviewed the effectiveness of the risk management and internal control systems during the year, reporting findings and recommendations to the audit committee and board[62]. - The company has established a disclosure mechanism to ensure timely publication of inside information in compliance with applicable laws and regulations[64]. - The company reported its annual financial statements for the year ending September 30, 2021, with no significant changes in the articles of association[72]. - The board of directors includes experienced members with over 30 years of professional experience in finance and management[75][76][80][81][83]. - The financial management and company secretary roles are overseen by the financial director, who has over 30 years of experience in public accounting and corporate governance[75][80]. - The company has a structured process for shareholders to submit inquiries and concerns to the board[71]. - The board is responsible for overall strategic management and development of the group[75]. - The company has appointed independent non-executive directors to provide independent judgment and oversight[81][83]. - The chairman and executive director has a master's degree in finance and extensive experience in the construction industry[75]. - The company has a diverse board with members from various professional backgrounds, enhancing its governance[76][81]. - The annual report and audited consolidated financial statements were presented to the shareholders[85]. - The company did not recommend a final dividend for the fiscal year 2021, consistent with the previous fiscal year where no dividend was paid[88]. - The company's distributable reserves as of September 30, 2021, amounted to approximately HKD 98.2 million, which includes share premium and stock option reserves after deducting accumulated losses[91]. - The company has complied with the disclosure requirements regarding related party transactions as per the listing rules[120]. - There are no significant transactions or contracts in which the directors have a material interest during the year[126]. - The company has received confirmations from controlling shareholders regarding compliance with non-competition commitments for the year ending September 30, 2021[125]. - The total number of shares held by major shareholders includes 413,895,000 shares held by Mr. Gao Junxi and 302,747,000 shares held by Da De Investment Trading Limited[121]. - The group made charitable donations of approximately HKD 1.2 million in the fiscal year 2021, compared to HKD 1.8 million in the fiscal year 2020[140]. - The company confirmed that its public float has consistently met the requirements of the listing rules as of the date of the annual report[136]. - The group is committed to sustainable development and has implemented ESG strategies to manage related risks effectively[144]. - The ESG report covers the group's operations in Hong Kong, which is the primary source of revenue[145]. - The group has adopted a stock option plan as a reward for eligible participants, reflecting its compensation policy based on individual qualifications and contributions[129]. - The company did not purchase, sell, or redeem any of its listed securities during the fiscal year 2021[135]. - The board of directors confirmed the independence of all independent non-executive directors in accordance with the listing rules[128]. Employee and Workplace Culture - The group employed 287 employees as of September 30, 2021, an increase from 138 employees in the previous fiscal year[23]. - The company maintained a strong relationship with employees, offering competitive compensation to attract and motivate them[97]. - The company has established a transparent recruitment process and offers competitive compensation packages to attract and retain experienced employees[199]. - The company is committed to creating an inclusive workplace culture, ensuring equal opportunities for all employees without discrimination[200]. - The company has not been aware of any significant violations of employment laws that could impact its operations[198]. Environmental Management - The group is focused on optimizing and improving the disclosure methods for key performance indicators related to ESG[145]. - The total greenhouse gas emissions for the reporting period were approximately 54.70 tons, an increase from 47.81 tons in the previous year, with a per-employee emission of 0.19 tons compared to 0.35 tons in the prior year[172]. - Scope 1 direct emissions amounted to 23.46 tons, while Scope 2 indirect emissions were 17.20 tons, and Scope 3 other indirect emissions were 14.04 tons[172]. - The company aims to reduce greenhouse gas emissions in the coming year by implementing measures such as optimizing vehicle routes and using low-sulfur fuel[174]. - The total paper consumption was 2,906 kg, with a per-employee density of 10.13 kg, compared to 2,300 kg and 16.67 kg per employee in the previous year[180]. - The company plans to reduce non-hazardous waste by 2% in the upcoming year and has implemented waste management processes to encourage recycling and reuse[184]. - The number of employees increased to 287 from 138 in the previous year, which may impact resource consumption metrics[173]. - The company has established a comprehensive environmental management system and obtained ISO 14001:2015 certification[167]. - The company has not reported any significant violations of environmental laws and regulations during the reporting period[167]. - The company encourages subcontractors to minimize waste generation and use recyclable packaging materials[180]. - The company has set policies to manage resource usage effectively, including fuel, electricity, and water[185]. - The company aims to reduce energy consumption by 2% in the coming year, including water usage[187]. - Diesel consumption was 7,028 liters per employee in 2021, a decrease from 5,309 liters in 2020, while gasoline consumption was 2,157 liters per employee, down from 2,223 liters[188]. - Electricity consumption was 40,952 kWh per employee in 2021, compared to 30,409 kWh in 2020, indicating a significant increase in energy efficiency measures[188]. - Water consumption was 224 cubic meters in the reporting period, with a per-employee usage of 0.78 cubic meters, down from 1.06 cubic meters in 2020[189]. - The company has implemented energy-saving measures, including setting air conditioning to a minimum of 25 degrees Celsius and encouraging employees to turn off equipment when not in use[188]. - The company has not engaged in industrial production or used significant packaging materials, reflecting its operational focus[191]. - The company recognizes the impact of climate change and has taken measures to reduce greenhouse gas emissions and prepare for extreme weather events[196].

Revenue and Profitability - The group's revenue for the period was approximately HKD 103.6 million, a decrease of about HKD 74.7 million or 41.9% compared to the same period in 2020[13] - Revenue for the six months ended March 31, 2021, was HKD 103,577,000, a decrease from HKD 178,243,000 in the same period of 2020, representing a decline of approximately 42%[56] - Gross profit for the same period was HKD 13,989,000, down from HKD 14,755,000, indicating a decrease of about 5%[56] - The total profit and comprehensive income decreased by approximately HKD 2.6 million, influenced by a reduction in gross profit and an increase in administrative expenses[17] - The net profit for the period was HKD 3,076,000, compared to HKD 5,661,000 in the previous year, reflecting a decline of approximately 46%[56] - Basic and diluted earnings per share were both HKD 0.004, down from HKD 0.010 in the previous year, a decrease of 60%[56] Expenses and Financial Position - Administrative expenses rose by approximately HKD 1.9 million, mainly due to increased professional fees, employee costs, and expected credit losses[13] - Cash and cash equivalents at the end of the period were HKD 140,055,000, down from HKD 190,645,000, a decrease of about 26%[68] - The company reported a net cash outflow from operating activities of HKD 11,553,000, compared to a net inflow of HKD 58,279,000 in the same period last year[68] - The company’s total liabilities decreased from HKD 28,115,000 to HKD 17,846,000, indicating improved financial management[114] Projects and Operations - The group completed two major electrical and maintenance engineering projects and commenced four new projects during the period, contributing approximately HKD 74.7 million, accounting for 72.4% of total revenue from electrical and maintenance engineering services[12] - The company continues to provide large-scale electrical and maintenance engineering services for major public sector construction projects in Hong Kong, contributing to stable income and profits in the coming years[31] - The company continues to focus on providing power engineering services in Hong Kong, with no significant expansion into new markets reported during this period[72] Employment and Workforce - The group employed 77 long-term employees and 268 short-term employees as of March 31, 2021, compared to 75 and 105, respectively, in the previous year[23] Shareholder Information - As of March 31, 2021, the beneficial owner, Gao Junxi, holds 111,148,000 ordinary shares, representing 17.76% of the total issued shares[41] - Gao Junxi also holds 302,747,000 shares through a controlled corporation, accounting for 46.14% of the total issued shares[41] - The company’s weighted average number of ordinary shares for basic earnings calculation increased to 656,191,000 shares from 543,621,000 shares in the previous year[103] Compliance and Governance - The audit committee has reviewed the group's financial statements for the period, ensuring compliance with accounting principles and practices[37] - The company has maintained its accounting policies consistent with previous periods, ensuring comparability in financial reporting[90] Market Conditions and Future Outlook - The business environment is challenging due to global trade tensions, geopolitical uncertainties, and the COVID-19 pandemic, which may slow down construction projects and impact performance[31] - The company will seek business diversification to minimize risks and may consider other opportunities beneficial for long-term development[31] Other Financial Information - The company has no significant contingent liabilities as of March 31, 2021[25] - The company has no significant investments other than those in subsidiaries as of March 31, 2021[26] - There were no major acquisitions or disposals reported as of March 31, 2021[27] - The board of directors does not recommend the payment of an interim dividend for the period[28] - The company did not purchase, sell, or redeem any of its listed securities during the six months ended March 31, 2021[52] - There were no significant events that required disclosure after the reporting period[52] - The company has not disclosed any new product developments or technological advancements in the current reporting period[72] - There were no significant mergers or acquisitions reported during the six months ended March 31, 2021[72]

Financial Performance - For the fiscal year ending September 30, 2020, the group's revenue was approximately HKD 252.8 million, a decrease of about HKD 125.7 million or 33.2% compared to the previous fiscal year[16]. - The group's gross profit for the fiscal year decreased by approximately HKD 8.0 million, while the gross profit margin increased from 16.1% in the previous fiscal year to 21.0% due to strict cost control measures[16]. - Total profit and comprehensive income increased by approximately HKD 1.5 million, influenced by a decrease in gross profit of about HKD 8.0 million, a reduction in impairment provisions of HKD 4.6 million, a decrease in administrative expenses of about HKD 2.3 million, and an increase in other income of approximately HKD 3.3 million[20]. - The group recorded other income of approximately HKD 5.9 million, an increase of about HKD 3.3 million compared to the fiscal year 2019, primarily due to government subsidies from the "Employment Support" scheme affected by COVID-19[17]. - The group had no bank borrowings as of September 30, 2020, compared to HKD 4.6 million in 2019[23]. - The company did not recommend the payment of a dividend for the fiscal year ending 2020, consistent with the previous year where no dividend was paid[86]. - As of September 30, 2020, the company's distributable reserves were approximately HKD 96.5 million, which includes share premium and share option reserves after deducting accumulated losses[91]. Business Diversification and Strategy - The group focused on three major projects, contributing approximately HKD 213.3 million, which accounted for 87.3% of the total revenue from the electromechanical engineering services business[14]. - The group has begun diversifying its business by engaging in electrical equipment trading with state-owned enterprises in China[10]. - The group acquired a retail store in Hong Kong to generate rental income as part of its property investment strategy[10]. - The group is exploring opportunities in the biotechnology sector by registering and developing a new drug in China[10]. - The group aims to continue participating actively in construction infrastructure projects in Hong Kong through strategic partnerships[10]. - The group plans to diversify its business to mitigate risks and maximize shareholder returns, particularly in light of global trade tensions and the COVID-19 pandemic[33]. - In June 2020, the group acquired several commercial properties for investment purposes to diversify its income sources through property investment and rental income[33]. - The group purchased exclusive development, production, and distribution rights for the drug Ad-SGE-REIC/dkk-3 in the Greater China region, marking an entry into the biomedical field[33]. Corporate Governance - The board of directors has complied with the listing rules requiring at least three independent non-executive directors, with at least one possessing appropriate professional qualifications in accounting or related financial management[41]. - All independent non-executive directors have submitted annual confirmation letters regarding their independence, and the company believes they are all independent individuals[41]. - The attendance rate for board meetings was 100% for all executive directors, with each attending 14 out of 14 meetings[47]. - The nomination committee held two meetings during the year to review the board's structure and assess the independence of independent non-executive directors[54]. - The remuneration committee held one meeting to review the remuneration policy and structure for all directors and senior management[55]. - The company encourages all directors to participate in continuous professional development to enhance their knowledge and skills[49]. - The board is responsible for establishing and reviewing corporate governance policies and practices[51]. - The company has adopted a board diversity policy, considering various factors to achieve sustainable and balanced development[52]. Risk Management and Compliance - The Risk Management Committee held one meeting during the year to oversee the risk management framework and review risk reports, ensuring effective risk control measures[56]. - The Audit Committee reviewed the consolidated financial statements for the fiscal year ending September 30, 2020, and discussed risk management and internal control systems[58]. - The internal audit function assessed the effectiveness of the risk management and internal control systems, reporting findings and improvement recommendations to the Audit Committee and Board[63]. - The company confirmed compliance with applicable laws and regulations regarding timely disclosure of inside information and established mechanisms for identifying and maintaining confidentiality of such information[64]. - The Board is responsible for preparing financial statements that fairly reflect the group's financial position and performance, adhering to relevant regulatory requirements and accounting standards[65]. Environmental, Social, and Governance (ESG) Initiatives - The company has achieved ISO 14001:2015 certification for its environmental management system, demonstrating its commitment to systematic environmental protection measures[157]. - The company reported no significant violations of environmental laws and regulations during the reporting period, including the Noise Control Ordinance and Waste Disposal Ordinance[158]. - The company is focused on optimizing and improving the disclosure methods for key performance indicators related to ESG[140]. - The company has established appropriate and effective management policies and internal control systems for ESG matters during the reporting period[155]. - The company actively engages with stakeholders through various channels to understand and address their concerns regarding ESG issues[152]. - The company emphasizes environmental protection and compliance with applicable environmental laws and regulations in its operations[157]. - The company implemented measures to reduce direct greenhouse gas emissions from fuel consumption, including optimizing vehicle routes and using low-sulfur fuel[163]. Employee Management and Development - The company employed 138 staff members as of September 30, 2020, down from 297 in the previous year, including 75 long-term employees and 63 short-term employees[162]. - The company provides competitive compensation to attract and motivate employees, regularly reviewing and adjusting salaries according to market standards[97]. - The company has established objective performance indicators for annual employee evaluations, which influence salary adjustments[185]. - The company encourages employee participation in personal and professional training to adapt to new technologies and equipment[196]. - Training programs are regularly updated to align with changing stakeholder needs, including legal regulations and market trends[197]. - The company is committed to maintaining a safe working environment, aiming for zero incidents and accidents through established safety policies and procedures[189]. - The company has achieved OHSAS 18001:2007 certification for its occupational health and safety management system[189]. - Regular internal audits are conducted to assess the effectiveness and compliance of the occupational health and safety management system[191]. Shareholder and Market Information - The company maintains effective communication with shareholders and investors, providing comprehensive information on operational and financial performance through annual and interim reports[69]. - Shareholders holding at least 10% of the paid-up capital have the right to request the Board to convene a special general meeting within two months of the request[70]. - There were no significant changes to the company's articles of association during the fiscal year ending September 30, 2020[72]. - The group reported that the top five customers accounted for approximately 96.6% of total revenue in the fiscal year 2020, down from 99.5% in 2019, with the largest customer representing 39.6% of total revenue compared to 54.6% in 2019[95]. - The top five suppliers accounted for about 43.0% of total material costs in fiscal year 2020, up from 37.3% in 2019, with the largest supplier accounting for 11.7% of material costs compared to 9.8% in 2019[96]. - The top five subcontractors represented 98.6% of total subcontracting fees in fiscal year 2020, an increase from 96.7% in 2019, with the largest subcontractor accounting for 65.1% of subcontracting fees compared to 58.6% in 2019[96].

Revenue and Profitability - The group's revenue for the six months ended March 31, 2020, was approximately HKD 178.2 million, an increase of about HKD 36.0 million or 25.3% compared to the same period in 2019[8] - Project revenue increased by approximately HKD 27.5 million, while new trade business revenue contributed approximately HKD 8.5 million[8] - Gross profit decreased by approximately HKD 8.2 million, resulting in an average gross profit margin of about 8.6%, down from 16.2% in 2019[8] - The company reported revenue of HKD 178,243,000 for the six months ended March 31, 2020, an increase of 25.3% compared to HKD 142,231,000 in the same period of 2019[60] - Gross profit for the same period was HKD 14,755,000, down 35.9% from HKD 22,979,000 year-on-year[60] - Profit before tax was HKD 6,558,000, down 37.5% from HKD 10,491,000 in the prior year[60] - The net profit attributable to the owners of the company was HKD 5,632,000, a decrease of 24.6% compared to HKD 7,469,000 in the same period last year[60] - Basic earnings per share for the period was HKD 0.010, unchanged from the previous year[60] Expenses and Costs - Administrative expenses decreased by approximately HKD 2.7 million compared to the same period in 2019[10] - The company incurred administrative expenses of HKD 10,419,000, a decrease of 20.5% from HKD 13,109,000 in the previous year[60] - Employee costs totaled HKD 46,949,000, with director remuneration at HKD 2,522,000 and other employee costs at HKD 43,102,000[112] - The company reported a depreciation expense of HKD 1,443,000 for property, plant, and equipment, including HKD 1,151,000 for right-of-use assets[112] Cash Flow and Financial Position - As of March 31, 2020, the group's bank and cash balance was approximately HKD 205.8 million, up from HKD 131.4 million in 2019[13] - The net cash generated from operating activities for the six months ended March 31, 2020, was HKD 58,279,000, significantly up from HKD 15,252,000 in the same period of 2019, indicating a year-over-year increase of approximately 282%[72] - The cash and cash equivalents at the end of the period were HKD 190,645,000, up from HKD 111,309,000 in the previous year, marking an increase of approximately 71%[72] - The total assets minus current liabilities amounted to HKD 218,287,000, compared to HKD 212,557,000 as of September 30, 2019, reflecting a growth of approximately 2.4%[63] - The total equity as of March 31, 2020, was HKD 217,602,000, an increase from HKD 211,941,000 as of September 30, 2019, representing a growth of about 2.3%[66] Shareholder Information - The total number of issued shares as of March 31, 2020, was 543,621,000 shares[13] - Major shareholders include Da De Investment Trading Limited with a 55.69% stake and Jia You Investment Limited with a 5.98% stake[54] - The board did not recommend the payment of an interim dividend for the six months ended March 31, 2020[25] - No interim dividend was declared or proposed for the six months ended March 31, 2020, as recommended by the board of directors[118] Business Environment and Strategy - The business environment is challenging due to global trade tensions, geopolitical uncertainties, and the COVID-19 pandemic, which may slow down construction projects and impact the group's performance[27] - The group continues to primarily engage in large-scale electromechanical engineering services for public sector construction projects in Hong Kong, including hospitals and government office facilities[27] - The group has initiated trade operations in China to diversify its business and minimize risks associated with its core operations[27] - The group aims to minimize business risks through diversification strategies amid a challenging operating environment[27] - The group is exploring other opportunities that may benefit its core business development[27] Corporate Governance - The board is committed to maintaining high levels of corporate governance and accountability to shareholders, adhering to the principles of the corporate governance code[28] - The audit committee has reviewed the group's financial statements for the six months ending March 31, 2020, ensuring compliance with accounting principles and practices[32] - The audit committee consists of three independent non-executive directors, ensuring independent oversight of the board[32] - The board will continue to assess the effectiveness of the group's structure as the business grows, considering potential changes including the appointment of a CEO[28] Investments and Acquisitions - The group had no significant investments other than those in subsidiaries as of March 31, 2020[23] - No major acquisitions or disposals occurred during the six months ended March 31, 2020[24] - The company established a new subsidiary during the reporting period, contributing HKD 20,000 to the overall financial position[69] Other Financial Metrics - Other income increased by approximately HKD 1.5 million, mainly due to the reversal of accrued engineering service fees[9] - The company reported other income of HKD 2,387,000, significantly up from HKD 633,000 in the previous year[60] - Interest income increased to HKD 840,000 from HKD 633,000 year-on-year[108] - The estimated tax expense for the period was HKD 897,000, down from HKD 3,023,000 in the previous year[111] - The company incurred capital expenditures of approximately HKD 328,000 for furniture, equipment, and vehicles during the six months ended March 31, 2020, compared to HKD 139,000 in 2019, indicating an increase of approximately 135.3%[117]

Financial Performance - For the fiscal year ending September 30, 2019, the group's revenue was approximately HKD 378.5 million, an increase of about HKD 3.4 million or 0.9% compared to the previous fiscal year[14] - The group's gross profit increased by approximately HKD 8.0 million, resulting in an average gross profit margin for the electromechanical engineering services business rising from about 14.1% to approximately 16.1%[14] - The group recorded other income of approximately HKD 2.7 million, an increase of about HKD 2.2 million compared to the previous fiscal year, driven by equipment installation service income and increased interest income[15] - The total profit and comprehensive income decreased by approximately HKD 5.2 million, influenced by increased administrative expenses and impairment provisions for receivables[19] - The group recorded a provision for impairment of receivables and contract assets of approximately HKD 4.5 million, compared to zero in the previous year[17] - The company reported a total revenue of approximately HKD 67.0 million as of September 30, 2019, with no dividends proposed for the fiscal year 2019[101] - The company’s available distributable reserves as of September 30, 2019, amount to approximately HKD 67.0 million, after deducting accumulated losses from share premium[101] - The board of directors has not recommended the payment of dividends for the fiscal year ending September 30, 2019, consistent with the previous fiscal year[96] Business Operations - The group began a new trade business in electronic product sales in China, generating approximately HKD 1.8 million in revenue for the fiscal year[13] - The group aims to diversify its business and minimize risks by expanding its expertise in electromechanical engineering services in the Chinese market[9] - The group established a wholly foreign-owned enterprise in Nanning, Guangxi, China, in July 2019 to diversify its business and reduce operational risks[38] - The company operates primarily in the power engineering services and trading business sectors[93] - The company has not engaged in any significant investments, acquisitions, or disposals as of September 30, 2019[32] Employee and Workforce Management - The group employed 297 employees as of September 30, 2019, down from 481 employees in 2018, indicating a significant reduction in workforce[26] - The company has provided competitive compensation to attract and motivate employees, regularly reviewing and adjusting salaries according to market standards[107] - The company emphasizes the importance of human resources management policies that recognize and reward outstanding employee performance[196] - The group has established objective performance indicators for annual performance evaluations of employees[199] - Compensation adjustments are based on the annual performance evaluations conducted by the group[199] - The company is committed to creating an inclusive and collaborative workplace culture for all employees[200] - Equal opportunities are provided in all aspects of employment, ensuring no discrimination based on race, religion, gender, or other factors[200] - The company adopts a zero-tolerance policy towards harassment or abuse in the workplace[200] Governance and Compliance - The board has complied with the listing rules by appointing at least three independent non-executive directors, with at least one possessing appropriate professional qualifications in accounting or related financial management[47] - All independent non-executive directors have submitted annual confirmation letters regarding their independence, and the company believes they are all independent individuals[47] - The attendance record of directors at board and committee meetings has been documented, with some directors achieving a 100% attendance rate[52] - The company encourages continuous professional development for all directors, ensuring they stay updated on legal, regulatory, and corporate governance developments[55] - The board is responsible for setting and reviewing corporate governance policies and practices, including compliance with legal and regulatory requirements[57] - The nomination committee held two meetings during the year to review the board's structure and assess the independence of non-executive directors[60] - The company has adopted a board diversity policy, considering various factors such as gender, age, and professional qualifications to achieve sustainable and balanced development[58] - The board believes the current management structure is effective for overseeing the group's operations, with ongoing reviews as the business grows[56] - The company confirmed compliance with applicable laws and regulations regarding timely disclosure of inside information[71] - The board is committed to providing clear and balanced evaluations of the group's business performance and financial position in all financial reports[72] Risk Management - The risk management committee held one meeting during the year to oversee the risk management framework and review risk reports[62] - The internal audit function assessed the effectiveness of the group's risk management and internal control systems, reporting findings and recommendations to the audit committee and board[70] - The risk management and internal control systems are deemed effective and sufficient by the board[70] - The group has no significant foreign currency risk as its monetary assets and liabilities are primarily denominated in HKD[24] - The group has not established any foreign currency hedging policies due to the assessment that foreign currency risk is not significant[24] Environmental, Social, and Governance (ESG) - The company has established a comprehensive environmental management system and obtained ISO 14001:2015 certification, demonstrating its commitment to environmental protection[170] - The company reported no significant violations of environmental laws and regulations during the reporting period, including the Noise Control Ordinance and Waste Disposal Ordinance[171] - The total greenhouse gas emissions for the reporting period were approximately 61.29 tons, a decrease from 65.62 tons in the previous year, with an emissions intensity of 0.21 tons per employee compared to 0.14 tons per employee in the prior year[174] - The main sources of greenhouse gas emissions were electricity consumption, gasoline and diesel consumption from vehicles, and paper usage[174] - The company actively engages with stakeholders through various channels to address their concerns and expectations regarding ESG matters[163] - The company is committed to optimizing and improving the disclosure methods for key performance indicators related to ESG[158] - The company has implemented appropriate and effective management policies and internal control systems for ESG matters during the reporting period[168] - The company focuses on sustainable development and green operations as part of its core business strategy[161] - The company aims to reduce waste emissions during its operational processes, despite considering the emissions to be not significant[171] - The company implemented measures to reduce direct greenhouse gas emissions from gasoline consumption, including optimizing vehicle routes and using unleaded and low-sulfur fuels[177] Shareholder Information - The net proceeds from the listing, after deducting related expenses, amounted to approximately HKD 56.7 million[33] - The group has not utilized any of the net proceeds from the listing for the intended purposes as of September 30, 2019, with HKD 23.691 million remaining unutilized[35] - The company confirmed that its public float complied with the Listing Rules as of the date of the report[149] - Major shareholders include Da De Investment Trading Limited with 302,747,000 shares (55.69%) and Jia You Investment Limited with 32,500,000 shares (5.98%) as of September 30, 2019[132] - The largest shareholder holds 302,747,000 shares, which constitutes 55.69% of the total issued shares[112] - The company has complied with the disclosure requirements of the Listing Rules Appendix 16 regarding related party transactions[128] - No significant transactions or contracts were established by the company or its subsidiaries that would involve directors' substantial interests during the year[139] - The company did not purchase, sell, or redeem any of its listed securities during the fiscal year 2019[146] Charitable Contributions - The company reported a charitable donation of approximately HKD 0.9 million for the year, compared to HKD 0.4 million in 2018[153]