Financial Performance - Total revenue increased by approximately 77.0% to HKD 445.0 million for the six months ended September 30, 2023, compared to HKD 251.5 million for the same period in 2022[5]. - Net profit for the six months ended September 30, 2023, was approximately HKD 3.4 million, representing an increase of about 126.2% from HKD 1.5 million in the same period of 2022[11]. - Basic and diluted earnings per share for the six months ended September 30, 2023, were HKD 0.34, up from HKD 0.15 in the same period of 2022[11]. - For the six months ended September 30, 2023, the company reported a profit of HKD 3,422,000, an increase of 126.4% compared to HKD 1,513,000 for the same period in 2022[32]. - The company reported a net interest income of HKD 369,000, a substantial increase from HKD 2,000 in the prior year[28]. - Gross profit increased by approximately HKD 11.1 million or 46.4% to approximately HKD 35.0 million, while the overall gross profit margin decreased to 7.9% from 9.5%[42]. - Administrative and other operating expenses rose by approximately HKD 3.5 million or 14.6% to approximately HKD 27.5 million, primarily due to increased salaries[44]. - Financing costs surged by approximately HKD 3.6 million or 219.3% to approximately HKD 5.3 million, attributed to increased bank borrowings and interest rates[46]. - Net profit attributable to owners increased by approximately HKD 1.9 million or 126.2% to approximately HKD 3.4 million, driven by new projects and effective cost control[48]. Dividend and Shareholder Information - The company did not recommend an interim dividend for the six months ended September 30, 2023, consistent with the previous year[11]. - The company did not declare an interim dividend for the six months ended September 30, 2023, consistent with the previous year[31]. - The company reported no interim dividend for the six months ended September 30, 2023[78]. - The issued share capital of the company as of September 30, 2023, was HKD 10,130,000, with a total of 1,013,000,000 shares issued[55]. - The company's executive director, Mr. Ng, holds 72.60% of the total shares, amounting to 735,480,000 shares[66]. Assets and Liabilities - Non-current assets totaled HKD 74.9 million as of September 30, 2023, compared to HKD 76.3 million as of March 31, 2023[14]. - Current assets amounted to HKD 487.3 million as of September 30, 2023, down from HKD 506.1 million as of March 31, 2023[14]. - Total liabilities decreased from HKD 464.1 million as of March 31, 2023, to HKD 441.2 million as of September 30, 2023[15]. - Total equity increased to HKD 119,976,000 as of September 30, 2023, up from HKD 116,554,000 as of April 1, 2023[17]. - As of September 30, 2023, total assets were approximately HKD 562.2 million, with total liabilities and equity at approximately HKD 442.3 million and HKD 120.0 million, respectively[49]. - The debt-to-equity ratio increased to approximately 132.4% as of September 30, 2023, compared to 120.4% as of March 31, 2023[50]. - Trade receivables decreased to approximately HKD 40.1 million from HKD 64.8 million, while trade payables decreased to approximately HKD 191.7 million from HKD 243.9 million[34][36]. Cash Flow and Financing - The company generated a net cash outflow from operating activities of HKD 32,537,000, an improvement from HKD 54,474,000 in the previous year[19]. - The company’s financing activities generated a net cash inflow of HKD 13,265,000, a decrease from HKD 75,215,000 in the previous year[19]. - Cash and cash equivalents decreased to HKD 37,672,000 at the end of the period, compared to HKD 57,000,000 at the beginning of the period[19]. Business Outlook and Strategy - The management is optimistic about the economic outlook in Hong Kong and the construction industry, anticipating improvements in labor supply due to policy changes[6]. - The company will continue to focus on its core business as a private general contractor in Hong Kong, including substructure and superstructure construction services, as well as renovation and maintenance services[6]. - The management team is exploring new opportunities and potential acquisition targets to enhance shareholder value[6]. - The company remains optimistic about the construction industry outlook in Hong Kong, focusing on core business areas and exploring new opportunities and acquisitions[39]. Governance and Compliance - The audit committee consists of three independent non-executive directors, ensuring proper oversight of financial reporting and internal controls[92]. - The company has complied with the principles and provisions of the corporate governance code as of September 30, 2023[76]. - The chairman and CEO roles are currently held by the same individual, which the board believes is beneficial for the company's stability and decision-making[76]. - The company has delegated operational and management responsibilities to other executive directors to ensure effective governance[76]. - The company will review the need for appointing a separate CEO when necessary[76]. Employee and Operational Information - Employee costs for the six months ended September 30, 2023, amounted to approximately HKD 44.5 million, a significant increase from HKD 24.6 million for the same period in 2022[60]. - The group employed a total of 147 employees as of September 30, 2023, up from 143 employees as of March 31, 2023[60]. - As of September 30, 2023, the group had no major capital commitments or plans for significant investments in capital assets[57]. - The company did not engage in any significant acquisitions or disposals of subsidiaries or associates during the six months ended September 30, 2023[58]. - There were no contingent liabilities as of September 30, 2023, consistent with the previous reporting period[59]. - No major events occurred after the reporting period that would impact the financial position of the company[62]. - The company did not purchase, sell, or redeem any of its listed securities during the six months ended September 30, 2023[74]. - As of September 30, 2023, a total of 32,500,000 share options were granted under the share option scheme, with an exercise price of HKD 0.40 per share[90]. - No share options were exercised or forfeited during the six months ended September 30, 2023[90]. - The maximum number of shares that may be issued under the share option scheme is capped at 10% of the total issued shares at the time of listing, which amounts to 100,000,000 shares[83]. - The company has a remaining term of approximately 4 years for the share option scheme, expiring on November 20, 2027[90].

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，概不對 因本公佈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。 Ching Lee Holdings Limited 正 利 控 股 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：3728） 截 至 二 零 二 三 年 九 月 三 十 日 止 六 個 月 的 中 期 業 績 公 佈 • 截至二零二三年九月三十日止六個月，本集團錄得收入約445.0百萬 港 元，較 截 至 二 零 二 二 年 九 月 三 十 日 止 六 個 月 增 加 約77.0%或193.5 百萬港元。 • 本 集 團 截 至 二 零 二 三 年 九 月 三 十 日 止 六 個 月 確 認 利 潤 淨 額 約3.4百 萬 港 元，較 截 至 二 零 二 二 年 九 月 三 十 日 止 六 個 月 增 加 約1.9百 萬 港 元或126.2%。 • 截至二零二三年九月三十日止六個月，每股基本及攤薄盈利為0.34 港仙，而二零二二年同期為0.15港仙。 • 董 事 會 不 建 議 就 ...

Financial Performance - The company's total revenue increased by approximately HKD 172.3 million or 32.1% to about HKD 708.8 million for the fiscal year ending March 31, 2023, compared to approximately HKD 536.5 million for the previous year[6]. - Revenue from superstructure construction services rose by approximately HKD 117.5 million or 23.6% to about HKD 614.6 million, driven by an increase in the number of new projects[16]. - Revenue from RMAA services surged by approximately HKD 52.3 million or 274.6% to about HKD 71.4 million, attributed to significant progress in major projects[17]. - Gross profit increased by approximately HKD 47.4 million or 195.7% to about HKD 71.7 million, with a gross margin of 10.1%, up from 4.5% in the previous year[20]. - Basic earnings per share for the fiscal year were HKD 1.17, compared to a loss of HKD 1.79 per share in the previous year[6]. - The company reported a net profit of approximately HKD 11.8 million for the year ending March 31, 2023, compared to a net loss of approximately HKD 18.2 million for the previous year, marking a turnaround due to increased project numbers and effective cost control[27]. Cost Management and Expenses - The increase in revenue is primarily due to enhanced project cost control measures implemented by the management team[5]. - Administrative and other operating expenses increased by approximately HKD 7.3 million or 16.2% to about HKD 52.6 million, driven by higher employee benefits and legal and professional fees[22]. - Financing costs rose by approximately HKD 3.0 million or 89.6% to about HKD 6.3 million, mainly due to increased average bank borrowings and interest rates[23]. Strategic Outlook and Growth Initiatives - The company remains optimistic about the economic recovery in Hong Kong and the construction industry, focusing on core business areas and seeking new opportunities[7]. - The management team is exploring new acquisition targets to enhance shareholder value[7]. - The company aims to leverage its extensive experience in the construction industry to explore opportunities in infrastructure and property development projects[8]. - The company has set a future outlook with a revenue target of HKD 1.5 billion for the next fiscal year, indicating a projected growth of 25%[52]. - New product development includes the introduction of eco-friendly construction materials, which are expected to contribute an additional HKD 200 million in revenue over the next two years[52]. - The company is expanding its market presence in Southeast Asia, with plans to enter three new countries by the end of 2024, aiming for a 10% market share in those regions[52]. - A strategic acquisition of a local construction firm is in progress, which is expected to enhance operational capabilities and increase market share by 5%[52]. - The company has invested HKD 50 million in technology upgrades to improve project management efficiency, aiming for a 20% reduction in project delivery times[52]. - The company plans to enhance its workforce by hiring an additional 200 employees over the next year to support growth initiatives[52]. Corporate Governance - The board of directors has approved a dividend payout of HKD 0.10 per share, reflecting a 10% increase from the previous year[52]. - The company has adopted the standard code of conduct for securities trading as per the listing rules, confirming compliance for the fiscal year ending March 31, 2023[85]. - The company has three independent non-executive directors, constituting more than one-third of the board, all of whom meet the independence criteria[88]. - The chairman and CEO roles are held by the same individual, which the board believes enhances stable leadership during the company's rapid development phase[84]. - The company has purchased liability insurance for directors and senior officers to cover legal liabilities arising from actions taken[92]. - The board is responsible for overseeing the company's business management and ensuring alignment with shareholder interests[89]. - The company emphasizes the importance of continuous professional development for directors, encouraging attendance at relevant seminars[96]. - The company has established three board committees: Audit Committee, Remuneration Committee, and Nomination Committee, each with clear written terms of reference[102]. Environmental, Social, and Governance (ESG) Initiatives - The company is committed to improving stakeholder communication to enhance business success in a challenging market[167]. - The board actively supervises environmental, social, and governance (ESG) matters to ensure effective implementation of related policies[151]. - The company has established an Environmental, Social, and Governance (ESG) Committee to enhance governance and sustainable development, consisting of 3 members[163]. - The company has identified 27 significant environmental, social, and governance (ESG) issues through stakeholder surveys and assessments[172]. - Key ESG issues prioritized include anti-corruption, occupational health and safety, and hazardous waste management[177]. - The company has implemented ISO 14001:2015 environmental management system since 2009 to enhance its ability to manage environmental impacts[178]. - The company aims to reduce both waste gas and greenhouse gas emissions by 5% to 10% in the coming year compared to the average density of the reporting year and the previous year[190]. - The company has implemented environmental policies to reduce emissions, including regular maintenance of machinery and vehicles[182]. - The company plans to replace traditional vehicles with electric vehicles under the "one-for-one" scheme to further reduce gasoline usage[182]. - The company emphasizes the importance of wastewater management and aims to minimize water pollution while enhancing water consumption efficiency[195]. Risk Management - The group has adopted multiple risk management procedures and guidelines to ensure effective risk management practices are integrated into daily operations[123]. - The board has established a three-tier risk management approach to identify, assess, mitigate, and respond to risks[123]. - The company has implemented a disclosure policy to maintain the confidentiality of potential inside information until timely disclosure is made in accordance with listing rules[126].

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，概不對 因本公佈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。 Ching Lee Holdings Limited 正 利 控 股 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：3728） 截 至 二 零 二 三 年 三 月 三 十 一 日 止 年 度 的 年 度 業 績 公 佈 財務業績 董事會（「董事會」）欣然公佈本公司及其附屬公司（「本集團」）截至二零二三 年三月三十一日止年度的經審核綜合業績，並同時公佈截至二零二二年 三月三十一日止年度經審核的比較數據，載列如下： 綜合全面收益表 截至二零二三年三月三十一日止年度 二零二三年 二零二二年 附註 千港元 千港元 收入 4 708,782 536,502 收入成本 (637,111) (512,265) 毛利 71,671 24,237 ...

Financial Performance - Total revenue for the six months ended September 30, 2022, decreased by approximately 26.7% or HKD 91.8 million to HKD 251.5 million compared to HKD 343.3 million for the same period in 2021[10] - The net profit for the six months ended September 30, 2022, was approximately HKD 1.5 million, a significant improvement from a net loss of HKD 9.3 million for the same period in 2021[18] - Basic and diluted earnings per share for the six months ended September 30, 2022, were HKD 0.15, compared to a loss of HKD 0.92 for the same period in 2021[19] - The group recorded a gross profit of HKD 23.9 million for the six months ended September 30, 2022, compared to HKD 19.4 million for the same period in 2021[23] - Revenue from superstructure construction services decreased to HKD 224,619 thousand for the six months ended September 30, 2022, down 29% from HKD 317,687 thousand in the same period of 2021[47] - The company reported a total comprehensive income of HKD 1,513 thousand for the six months ended September 30, 2022, compared to a loss of HKD (9,289) thousand for the same period in 2021[33] - The company reported a profit of approximately HKD 1.5 million for the six months ended September 30, 2022, compared to a net loss of approximately HKD 9.3 million for the same period in 2021, marking a turnaround from loss to profit[75] Assets and Liabilities - The total current assets as of September 30, 2022, increased to HKD 364.3 million from HKD 259.1 million as of March 31, 2022[26] - Total current liabilities increased to HKD 340,002 thousand as of September 30, 2022, compared to HKD 216,602 thousand as of March 31, 2022, representing a 57% increase[30] - Cash and cash equivalents decreased to HKD 27,005 thousand as of September 30, 2022, from HKD 58,549 thousand at the beginning of the period[36] - Total assets as of September 30, 2022, were approximately HKD 446.5 million, with total liabilities and equity at approximately HKD 340.3 million and HKD 106.2 million, respectively[76] - The debt-to-equity ratio increased to approximately 138.5% as of September 30, 2022, up from approximately 67.0% as of March 31, 2022, with total interest-bearing debt at approximately HKD 147.1 million[77] - Trade receivables increased to HKD 60.2 million as of September 30, 2022, from HKD 26.1 million as of March 31, 2022[58] - Trade payables increased to HKD 123.6 million as of September 30, 2022, from HKD 81.8 million as of March 31, 2022[61] Expenses and Costs - The group’s administrative and other operating expenses decreased to HKD 24.0 million for the six months ended September 30, 2022, from HKD 28.1 million for the same period in 2021[23] - Employee costs for the six months ended September 30, 2022, were approximately HKD 24.6 million, a decrease from approximately HKD 29.0 million for the same period in 2021[90] - Financing costs decreased by HKD 0.4 million or 18.0% to HKD 1.7 million for the six months ended September 30, 2022[73] Dividends and Share Capital - The board does not recommend the payment of an interim dividend for the six months ended September 30, 2022[20] - The company did not declare an interim dividend for the six months ended September 30, 2022, consistent with the same period in 2021[54] - The issued share capital as of September 30, 2022, was HKD 10,130,000, with a total of 1,013,000,000 ordinary shares issued[83] - The total number of shares issued as of September 30, 2022, is 1,013,000,000[110] Governance and Management - The audit committee consists of three independent non-executive directors, ensuring proper oversight of financial reporting[140] - The company reviewed its accounting principles and internal control procedures for the six months ending September 30, 2022[140] - The interim financial statements for the period were discussed and reviewed by the management and the audit committee[140] - The chairman of the company is Mr. Ng Choi Wah, with a team of executive and independent non-executive directors[140] - The company has complied with the corporate governance code principles during the reporting period[115] Strategic Focus - The group plans to continue focusing on its core business as a general contractor in Hong Kong while exploring new opportunities and potential acquisition targets[11] - The management acknowledges the impact of COVID-19 and geopolitical tensions on project execution and is taking appropriate measures to navigate these challenges[65]

Financial Performance - Total revenue for the fiscal year ended March 31, 2022, was approximately HKD 536.5 million, a decrease of about HKD 372.3 million or 41.0% compared to HKD 908.8 million for the previous fiscal year[7]. - Revenue from superstructure construction services decreased by approximately HKD 252.7 million or 33.7%, totaling HKD 497.1 million for the fiscal year ended March 31, 2022[14]. - Revenue from RMAA services decreased by approximately HKD 115.1 million or 85.8%, totaling HKD 19.1 million for the fiscal year ended March 31, 2022[17]. - Gross profit decreased by approximately HKD 37.1 million or 60.5%, from approximately HKD 61.3 million to approximately HKD 24.2 million for the fiscal year ended March 31, 2022[21]. - Gross margin for the fiscal year ended March 31, 2022, was approximately 4.5%, down from 6.7% in the previous year[21]. - The company reported a loss of approximately HKD 18.2 million for the year ended March 31, 2022, compared to a profit of HKD 11.5 million for the previous year, primarily due to a decrease in gross profit of approximately HKD 37.1 million[28]. - Other income and gains decreased by approximately HKD 5.6 million or 59.1% to approximately HKD 3.9 million for the year ended March 31, 2022, mainly due to the absence of government subsidies from the Employment Support Scheme[22]. - Administrative and other operating expenses decreased by approximately HKD 8.4 million or 15.7% to approximately HKD 45.3 million, primarily due to a reduction in employee costs of approximately HKD 5.3 million[23]. - Financing costs decreased by approximately HKD 1.7 million or 33.2% to approximately HKD 3.3 million, mainly due to a reduction in average bank borrowings[24]. - The company's total assets as of March 31, 2022, were approximately HKD 321.8 million, with total liabilities of approximately HKD 217.1 million and equity of approximately HKD 104.7 million[29]. - The capital-to-debt ratio improved to approximately 67.0% as of March 31, 2022, compared to 74.1% the previous year[30]. Business Strategy and Outlook - The company remains confident in the economic outlook for the Hong Kong construction market despite anticipated downward pressure due to the COVID-19 pandemic[8]. - The company plans to focus on its core business as a general contractor in Hong Kong, providing substructure and superstructure construction services, as well as RMAA services[8]. - The company will explore new opportunities and potential acquisition targets to enhance shareholder value[8]. - The company aims to leverage its skills and experience in the construction industry to explore property development project opportunities in the future[9]. - The company acknowledges the ongoing challenges posed by the COVID-19 pandemic but is committed to maintaining a robust financial position[6]. Human Resources and Management - The company employed a total of 94 employees as of March 31, 2022, down from 120 employees the previous year, with employee costs amounting to approximately HKD 51.2 million[43]. - The company has a strong management team with extensive experience in the construction industry, which is crucial for its operational success[58][60][63]. - The management team has extensive experience, with key members having over 30 years in audit, tax, and financial management[70]. - The company has appointed a new company secretary with over 16 years of experience in accounting and corporate sectors[86]. - The management team includes professionals with advanced degrees from prestigious institutions, enhancing the company's strategic capabilities[78]. - The company is currently led by Mr. Ng Choi Wah, who serves as both Chairman and CEO, a decision made to enhance stable leadership during a period of rapid development[110]. Corporate Governance - The company emphasizes high standards of corporate governance to maintain shareholder and stakeholder trust, which is crucial for long-term value creation[94]. - The board is responsible for formulating business strategies, reviewing and monitoring the group's performance, and approving financial statements and annual budgets[101]. - The company has adopted the standard code of conduct for securities trading as per the listing rules, confirming compliance for the fiscal year ending March 31, 2022[96]. - The independent non-executive directors have confirmed their independence in accordance with the listing rules, ensuring compliance with independence guidelines[100]. - The company has established a diversity policy for its board, considering various factors such as gender, age, cultural background, and professional experience in the selection of board members[119]. - The Nomination Committee is responsible for reviewing the board's structure and recommending suitable candidates for directorships, ensuring a balanced skill set and diversity[120]. - The company has established multiple communication channels with shareholders, including annual reports and quarterly reports, which are available on the company's website[143]. Environmental, Social, and Governance (ESG) Performance - The report covers the company's environmental, social, and governance (ESG) performance for the fiscal year from April 1, 2021, to March 31, 2022[154]. - The company adopts a top-down approach to implement sustainability strategies, focusing on environmental sustainability, respect for human rights, stakeholder engagement, employee support, and community support[152]. - Key performance indicators (KPIs) are supported by quantifiable data and metrics, ensuring transparency and accountability in ESG reporting[157]. - The board of directors actively supervises ESG matters, ensuring effective implementation of related policies and strategies[174]. - The company has identified 26 significant environmental, social, and governance (ESG) issues, with a focus on occupational health and safety, and service quality as the most critical topics[188]. - The company has implemented a series of environmental protection measures to reduce carbon emissions and operational impact, adopting ISO 14001:2015 environmental management system since 2009[192]. - The company will continue to engage with stakeholders to gather feedback and reassess the prioritization of ESG issues to ensure their relevance and importance[189]. - The company emphasizes the importance of service quality in its operations, particularly in construction and consulting services, to maintain high-quality management standards[188]. Risk Management - The company has adopted a three-tier risk management approach to identify, assess, mitigate, and respond to risks[131]. - The company cannot guarantee it will not face claims due to defects in its projects, which could lead to additional costs[55]. - The company may face legal liabilities due to construction and labor disputes, which could adversely affect financial performance[54]. - The company is dependent on its board members and senior management; their departure could negatively impact operations and financial performance[54]. - The company relies on suppliers for concrete, steel, and other construction materials; any shortages or delays could have a significant negative impact on operations[54]. - The company is labor-intensive, and any labor shortages or significant increases in labor costs could adversely affect financial performance[54]. Operational Efficiency - The company reported a significant increase in operational management efficiency, particularly in foundation engineering and contract management[77]. - The company has a strong focus on project management, with a project director responsible for overall operational management since 2013[77]. - The company is actively expanding its safety management systems, with a dedicated safety officer overseeing compliance and safety protocols[81].

TE Ching Lee Holdings Limited 正利控股有限公司 (於開曼群島註冊成立之有限公司) 股份代號：3728 9 中期報告 目 2 公司資料 目 錄 2 4 主席報告 4 6 財務摘要 6 7 未經審核綜合全面收益表 7 8 未經審核財務狀況表 8 10 未經審核綜合權益變動表 10 11 未經審核綜合現金流量表 11 12 未經審核綜合財務報表附註 12 18 管理層討論及分析 18 24 其他資料 24 其他資料 公司資料 董事會 授權代表 執行董事： 吳彩華先生 吳彩華先生(主席) 呂耀榮先生 呂耀榮先生 總部及香港主要營業地點 林嘉暉先生 香港 獨立非執行董事： 九龍 韋永康博士 佐敦 湯顯森先生 上海街28 號 周錦榮先生 2 樓 203 室 審核委員會 開曼群島股份過戶登記總處 周錦榮先生(主席) 韋永康博士 Codan Trust Company (Cayman) Limited 湯顯森先生 Cricket Square Hutchins Drive 薪酬委員會 P.O. Box 2681 韋永康博士(主席) Grand Cayman KY1-1111 吳彩華先生 周鈞桑先 ...

Revenue Performance - The total revenue for the fiscal year ending March 31, 2021, was approximately HKD 908.8 million, a decrease of about HKD 84.5 million or 8.5% compared to HKD 993.3 million for the previous year[9]. - Revenue from substructure construction services was approximately HKD 24.8 million, down 19.9% from HKD 30.9 million in the previous year, primarily due to reduced project confirmations[17][18]. - Revenue from superstructure construction services increased by approximately HKD 91.1 million to HKD 749.8 million, representing a growth of 13.8% compared to HKD 658.7 million in the previous year[17][19]. - Revenue from RMAA services decreased significantly by approximately HKD 169.5 million to HKD 134.2 million, a decline of 55.8% from HKD 303.7 million in the previous year[17][20]. - The decline in overall revenue was primarily attributed to decreases in RMAA and substructure construction services, offset by growth in superstructure services[23]. Profitability and Earnings - Basic earnings per share for the fiscal year were HKD 1.14, down from HKD 1.20 in the previous year[9]. - Gross profit decreased by approximately HKD 19.4 million or 24.0% to about HKD 61.3 million, with a gross margin of 6.7%, down from 8.1% in the previous year[24]. - Profit attributable to owners decreased by approximately HKD 0.7 million or 5.7% to about HKD 11.5 million, influenced by the decrease in gross profit and the increase in other income[31]. Financial Position - Total assets as of March 31, 2021, were approximately HKD 423.9 million, with total liabilities of about HKD 298.0 million and equity of HKD 125.9 million[32]. - The debt-to-equity ratio improved to approximately 74.1% from 130.8% in the previous year[33]. Operational Efficiency - Administrative and other operating expenses decreased by approximately HKD 5.6 million or 9.4% to about HKD 53.7 million, mainly due to reductions in consultancy fees and entertainment expenses[26]. - Financing costs decreased by approximately HKD 4.3 million or 46.2% to about HKD 5.0 million, attributed to a reduction in average bank borrowings[27]. - Income tax decreased by approximately HKD 1.1 million or 45.8% to about HKD 1.3 million[28]. Strategic Outlook - The company remains confident in the prospects of the Hong Kong construction market despite anticipated economic pressures due to the COVID-19 pandemic[10]. - The company plans to continue focusing on its core business as a general contractor and explore new opportunities and potential acquisitions to enhance shareholder value[10][11]. - The company aims to leverage its comprehensive skills and experience in the construction industry to explore property development opportunities in the future[11]. - The company acknowledges the ongoing challenges posed by the COVID-19 pandemic but remains committed to its strategic objectives[8]. Human Resources and Employee Welfare - Employee costs for the year amounted to approximately HKD 70.4 million, down from HKD 82.8 million in the previous year, with a total of 120 employees as of March 31, 2021[45]. - The total number of employees as of March 31, 2021, is 120, down from 146 in the previous fiscal year[188]. - The employee turnover rate is approximately 3.2% for the reporting year, an increase from 1.8% in the previous fiscal year[192]. - The company reported 14 work-related injury cases during the reporting year, with a total of 653 hours of absenteeism[196]. - There were no fatal incidents reported during the year, and all injured employees received adequate compensation[196]. - The company maintains a health and safety policy aimed at reducing reportable accidents to less than 0.45 per 100,000 working hours[193]. - The gender ratio among employees is approximately 70% male and 30% female[190]. - Employees are provided with 7 to 14 days of annual leave based on their positions[189]. - The company conducts regular safety training and emergency drills to ensure a safe working environment[197]. Environmental Impact - Total atmospheric pollutant emissions decreased by approximately 11.4% to 197.92 kg compared to the previous fiscal year, with an average of 12.37 kg per facility[153]. - Greenhouse gas emissions increased by approximately 7.9% to 1,082.30 tons, with a density of 67.64 tons per facility, while direct emissions from fixed combustion sources decreased by about 22.6%[159]. - The total amount of non-hazardous waste disposed of increased by approximately 68.5% to 32,937 tons, with a density of 2,058.54 tons per facility[166]. - The company has implemented environmental policies to reduce atmospheric pollutant emissions, ensuring regular maintenance of all machinery and vehicles[153]. - The company has adopted the ISO 14001:2015 environmental management system since 2009 to enhance its ability to identify and manage environmental impacts[151]. - The company is committed to becoming a resource-saving and environmentally friendly enterprise, actively reducing resource usage and emissions[172]. - The company plans to continue promoting greenhouse gas reduction and efficient use of natural resources in the coming years[182]. Corporate Governance - The board of directors has emphasized the importance of corporate governance, ensuring compliance with all relevant regulations and standards[101]. - The board held a total of 4 meetings and 1 annual general meeting during the year[112]. - The audit committee, consisting of three independent non-executive directors, reviewed the consolidated financial statements for the year ending March 31, 2021, confirming compliance with applicable accounting standards[118]. - The company has adopted a board diversity policy, considering various factors such as gender, age, and industry experience in selecting board members[124]. - The company emphasizes continuous professional development for directors, encouraging attendance at relevant seminars[113]. - The chairman and CEO roles are held by the same individual, which the board believes enhances stability and effective decision-making during the company's rapid development[115]. - The company provides sufficient resources for all board committees to fulfill their duties and seek independent professional advice when necessary[117]. - The board of directors confirmed their responsibility for preparing the consolidated financial statements for the year ended March 31, 2021, ensuring a true and fair view of the group's affairs and performance[130].

Financial Performance - The total revenue for the six months ended September 30, 2020, was approximately HKD 515.9 million, an increase of about HKD 96.5 million or 23.0% compared to HKD 419.4 million for the same period in 2019[13]. - The profit and total comprehensive income for the six months ended September 30, 2020, was approximately HKD 13.6 million, an increase of about HKD 2.2 million or 19.3% compared to HKD 11.4 million for the same period in 2019[19]. - Basic and diluted earnings per share for the six months ended September 30, 2020, were 1.34 HKD cents, compared to 1.13 HKD cents for the same period in 2019[20]. - The group recorded a gross profit of approximately HKD 37.3 million for the six months ended September 30, 2020, compared to HKD 46.6 million for the same period in 2019[25]. - The company reported a net profit of HKD 13,622,000 for the six months ended September 30, 2020, compared to HKD 11,407,000 for the same period in 2019, reflecting a year-on-year increase of 19.4%[34]. - Gross profit decreased by approximately HKD 9.3 million or 20.0% to about HKD 37.3 million for the six months ended September 30, 2020, with a gross margin of 7.2%, down from 11.1% in the previous year[70]. Dividends - The board declared an interim dividend of 0.35 HKD cents per share for the six months ended September 30, 2020, compared to 0.3 HKD cents per share for the same period in 2019[21]. - The company declared an interim dividend of HKD 0.35 per share for the six months ended September 30, 2020, compared to HKD 0.30 per share for the same period in 2019[53]. - The interim dividend checks will be sent to shareholders around December 21, 2020[145]. - The company will suspend the registration of share transfers from December 10 to December 11, 2020, to qualify for the interim dividend[144]. Assets and Liabilities - Trade and other receivables increased to HKD 111.3 million as of September 30, 2020, from HKD 93.2 million as of March 31, 2020[28]. - The group's non-current assets totaled HKD 62.3 million as of September 30, 2020, compared to HKD 61.7 million as of March 31, 2020[28]. - The total assets less current liabilities amounted to HKD 134,922,000 as of September 30, 2020, up from HKD 124,702,000 as of March 31, 2020[30]. - Cash and cash equivalents increased to HKD 88,115,000 as of September 30, 2020, compared to HKD 63,337,000 at the end of the same period in 2019[37]. - The company’s liabilities decreased slightly, with total current liabilities at HKD 386,510,000 as of September 30, 2020, down from HKD 396,680,000 as of March 31, 2020[30]. - As of September 30, 2020, the group's total assets were approximately HKD 521.5 million, with total liabilities and equity of approximately HKD 389.9 million and HKD 131.6 million, respectively, maintaining a current ratio of about 1.2[78]. - The capital debt ratio as of September 30, 2020, was approximately 122.4%, down from about 130.8% as of March 31, 2020, based on total interest-bearing debt of approximately HKD 161.1 million and total equity of approximately HKD 131.6 million[79]. Operational Challenges - The group experienced challenges due to the COVID-19 pandemic and geopolitical tensions, impacting project execution and material supply[14]. - The management is confident in overcoming challenges posed by COVID-19 and is taking appropriate measures to review project execution[66]. Business Strategy - The group will continue to focus on its core business as a general contractor in Hong Kong, providing various construction services while exploring new business opportunities and potential acquisitions[14]. - The group plans to maintain a cautious approach while exploring opportunities related to property development projects[14]. - The company plans to continue focusing on its core business as a general contractor in Hong Kong while exploring new opportunities and potential acquisitions[66]. Employee and Management Information - Employee costs for the six months ended September 30, 2020, were approximately HKD 30.3 million, a decrease from HKD 39.2 million for the same period in 2019, with a total of 132 employees as of September 30, 2020[91]. - The company has maintained a prudent financial management policy, ensuring a stable liquidity position throughout the six months[81]. - The company has not faced any foreign exchange risks as of September 30, 2020[83]. Share Capital and Governance - As of September 30, 2020, the total issued share capital of the company was 1,013,000,000 shares[107]. - Mr. Wu holds 694,940,000 ordinary shares and 10,000,000 share options, representing 69.59% of the company's equity[104]. - The company has not purchased, sold, or redeemed any of its listed securities during the six months ended September 30, 2020[118]. - The company has a share option plan that allows for the issuance of up to 10% of the total issued shares, which amounts to 100,000,000 shares[126]. - The company has complied with the corporate governance code principles and provisions during the reporting period[119]. - The company’s audit committee consists of three independent non-executive directors, ensuring appropriate accounting and financial management expertise[143]. Stock Options - The company granted a total of 32,500,000 share options under the share option plan, with an exercise price of HK$0.40 per share[123]. - No stock options were exercised or forfeited during the six months ending September 30, 2020[139]. - The stock options are exercisable within a period from November 21, 2018, to November 20, 2027[139]. - The maximum number of stock options granted to any participant cannot exceed 1% of the issued shares[127].

Revenue and Profitability - Total revenue for the year ended March 31, 2020, increased by approximately HKD 149.7 million or 17.7% to about HKD 993.3 million, compared to approximately HKD 843.7 million for the year ended March 31, 2019[13] - Revenue from superstructure construction services rose by approximately HKD 242.1 million or 58.1% to HKD 658.7 million, while revenue from substructure construction services was approximately HKD 30.9 million, a new addition for the year[21][23] - Revenue from RMAA services decreased by approximately HKD 123.4 million or 28.9% to HKD 303.7 million, primarily due to fewer project milestones being achieved compared to the previous year[24] - Gross profit decreased by approximately HKD 6.6 million or 7.5% to about HKD 80.7 million, with a gross profit margin of approximately 8.1%, down from 10.3% in the previous year[29] - The company reported a profit attributable to owners of approximately HKD 12.2 million for the year ended March 31, 2020, an increase of approximately HKD 1.2 million or 10.9% from the previous year[34] Financial Position - Total assets as of March 31, 2020, amounted to approximately HKD 521.4 million, with total liabilities and equity at approximately HKD 400.4 million and HKD 121.0 million, respectively[38] - Administrative and other operating expenses decreased by approximately HKD 5.7 million or 8.8% to approximately HKD 59.3 million for the year ended March 31, 2020[31] - Financing costs increased by approximately HKD 2.2 million or 31.8% to approximately HKD 9.3 million due to an increase in average bank borrowings[32] - Income tax expenses decreased by approximately HKD 1.8 million or 41.8% to approximately HKD 2.4 million for the year ended March 31, 2020[33] - The capital-to-debt ratio as of March 31, 2020, was approximately 130.8%, a decrease from 174.0% the previous year[39] Capital Expenditure and Proceeds - The capital expenditure for the year ended March 31, 2020, was approximately HKD 0.5 million, primarily for the purchase of property, furniture, and equipment[40] - The net proceeds from the listing, after deducting various fees, amounted to approximately HKD 42.5 million[64] - The actual net proceeds from the share placement differ from the estimated net proceeds of approximately HKD 39.0 million as stated in the prospectus[65] - Approximately 40.1% of the net proceeds (around HKD 17.0 million) is allocated to reserve more capital to meet potential clients' performance guarantee needs[65] - About 24.8% of the net proceeds (approximately HKD 10.5 million) is used to expand the workforce and fund external technical seminars and occupational health and safety courses[65] Corporate Strategy and Outlook - The company remains confident in the outlook for the Hong Kong construction market despite ongoing challenges from social unrest and the COVID-19 pandemic[14] - The company plans to focus on its core business as a general contractor in Hong Kong, providing substructure and superstructure construction services, as well as RMAA services[14] - The company is exploring new opportunities and potential acquisition targets to enhance shareholder value[14] - The company aims to leverage its comprehensive skills and experience in the construction industry to explore property development opportunities in the future[15] Environmental Impact - Total greenhouse gas emissions decreased by 26.7% to approximately 889 tons compared to 1,213 tons in the previous year[200] - The total weight of air pollutants increased by 12% to 6.34 kg per facility, up from 5.66 kg per facility in the previous year[194] - The density of greenhouse gas emissions per facility reduced by 9.9%, from 71 tons to 64 tons[200] - Direct greenhouse gas emissions from fixed combustion sources (generators) increased by 155.5% from 211 tons to 539 tons[200] - The company has implemented environmental policies to reduce air pollutant emissions[194] Corporate Governance - The company has maintained high standards of corporate governance, believing it is essential for gaining and maintaining shareholder trust and creating long-term value[130] - The board of directors consists of three executive directors and three independent non-executive directors, ensuring a balance of skills and experience[136] - The company has adopted the corporate governance code as per the Listing Rules and has complied with it for the fiscal year ending March 31, 2020[131] - The board held four meetings and one annual general meeting during the year to review financial and operational performance[147] - The independent non-executive directors have confirmed their independence according to the guidelines set out in the Listing Rules[137]