Financial Performance - The total revenue for the six months ended September 30, 2019, was approximately HKD 419.4 million, a decrease of about 23.4% or HKD 128.0 million compared to HKD 547.4 million for the same period in 2018[11]. - The profit and total comprehensive income for the six months ended September 30, 2019, was approximately HKD 11.4 million, a decrease of about 18.8% or HKD 2.6 million compared to HKD 14.0 million for the same period in 2018[18]. - Basic earnings per share for the six months ended September 30, 2019, was 1.13 HKD cents, down from 1.39 HKD cents for the same period in 2018[19]. - The gross profit for the six months ended September 30, 2019, was HKD 46.6 million, compared to HKD 50.4 million for the same period in 2018[24]. - The company reported a net cash outflow from operating activities of HKD (8,846) thousand for the six months ended September 30, 2019, an improvement from HKD (40,697) thousand in the same period of the previous year[40]. - The company's profit attributable to owners decreased by approximately HKD 2.6 million or 18.8% to HKD 11.4 million for the six months ended September 30, 2019, compared to HKD 14.0 million for the same period in 2018[110]. - Financing costs increased by HKD 1.8 million or 81.2% to approximately HKD 3.9 million for the six months ended September 30, 2019, due to higher bank borrowings compared to the same period in 2018[106]. - Income tax expenses decreased by approximately HKD 0.9 million or 29.4% to approximately HKD 2.3 million for the six months ended September 30, 2019[109]. Dividend Information - The board declared an interim dividend of 0.3 HKD cents per share for the six months ended September 30, 2019, compared to 0.4 HKD cents per share for the same period in 2018[20]. - The interim dividend declared for the six months ended September 30, 2019, is HKD 0.3 per share, down from HKD 0.4 per share for the same period in 2018[85]. - Dividend checks are expected to be sent to shareholders on or around December 20, 2019[176]. Assets and Liabilities - Non-current assets as of September 30, 2019, totaled HKD 62.3 million, an increase from HKD 60.7 million as of March 31, 2019[28]. - Current assets increased to HKD 520.9 million as of September 30, 2019, compared to HKD 381.7 million as of March 31, 2019[28]. - Current liabilities increased to HKD 455,802 thousand as of September 30, 2019, compared to HKD 328,492 thousand as of March 31, 2019, representing a 38.7% increase[32]. - Total assets less current liabilities amounted to HKD 65,072 thousand as of September 30, 2019, up from HKD 53,225 thousand as of March 31, 2019, indicating a 22.3% growth[32]. - Net asset value rose to HKD 123,259 thousand as of September 30, 2019, compared to HKD 111,852 thousand as of March 31, 2019, reflecting a 10.2% increase[32]. - Non-current liabilities totaled HKD 4,151 thousand as of September 30, 2019, compared to HKD 2,047 thousand as of March 31, 2019, showing a 102.5% increase[32]. - Trade receivables increased to HKD 96.8 million as of September 30, 2019, from HKD 40.5 million as of March 31, 2019[88]. - Trade payables rose to HKD 189.3 million as of September 30, 2019, compared to HKD 87.8 million as of March 31, 2019[93]. Operational Insights - The group remains confident about the industry outlook and the Hong Kong construction market, focusing on core services and exploring new opportunities and acquisition targets[12]. - The group aims to leverage its skills and experience in the construction industry to explore future property development opportunities[13]. - The revenue from substructure construction services was HKD 18,806,000, while the revenue from superstructure construction services was HKD 264,624,000, down from HKD 299,688,000 in the previous year[80]. - The revenue from RMAA services was HKD 136,010,000, a significant decrease from HKD 247,715,000 in the prior year, indicating a decline of approximately 45%[80]. - The overall gross margin improved from 9.2% for the six months ended September 30, 2018, to 11.1% for the same period in 2019[103]. - Employee costs for the six months ended September 30, 2019, were approximately HKD 39.2 million, an increase from HKD 34.6 million for the same period in 2018[123]. Accounting Policies - The company has adopted HKFRS 16 "Leases" effective from April 1, 2019, which has impacted its accounting policies significantly[49]. - The group recognized additional lease liabilities of approximately HKD 1,182,000 as of April 1, 2019, following the application of HKFRS 16[74]. - The initial measurement of lease liabilities included fixed payments and variable lease payments based on indices or rates, with adjustments made for any lease incentives received[64]. - The group confirmed the cost of right-of-use assets, which includes initial direct costs and estimated costs for dismantling and restoring leased assets[58]. - The group has opted for a practical expedient not to recognize right-of-use assets and lease liabilities for short-term leases and low-value asset leases[57]. - The group reported a decrease in operating lease commitments from HKD 2,190,000 to HKD 1,182,000 after applying HKFRS 16[75]. - The group’s financial position reflects the impact of lease liabilities and right-of-use assets on its balance sheet, with adjustments made for any remeasurement of lease liabilities[61]. Shareholder Information - As of September 30, 2019, the total number of issued shares was 1,013,000,000[137]. - Executive Director Wu Choi Wah holds 658,720,000 shares, representing 66.01% of the company's shares[137]. - Major shareholder JT Glory Limited, fully owned by Wu Choi Wah, holds 645,000,000 shares, accounting for 63.67% of the company's equity[142]. - The company has adopted a share option scheme, granting directors options to subscribe for shares[143]. - The total 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[158]. - The exercise price for the granted share options is set at HK$0.40 per share[166]. - The company has a total of 10,000,000 share options granted to Wu Choi Wah under the share option scheme[137]. - No share options were exercised or forfeited during the six months ended September 30, 2019[166]. Corporate Governance - The company confirmed compliance with the corporate governance code, except for the dual role of the Chairman and CEO held by Wu Choi Wah[152]. - The company has no competitive business or conflict of interest issues involving directors or major shareholders as of September 30, 2019[147]. - The company’s audit committee consists of three independent non-executive directors, ensuring appropriate accounting and financial management expertise[174].

Financial Performance - Total revenue for the year ended March 31, 2019, was approximately HKD 843.7 million, a decrease of about HKD 27.2 million or 3.1% from approximately HKD 870.9 million for the year ended March 31, 2018[12]. - Revenue from superstructure construction services decreased by approximately HKD 118.3 million to HKD 416.5 million, representing a decline of 22.1%[20]. - Revenue from RMAA services increased by approximately HKD 92.7 million to HKD 427.2 million, reflecting a growth of 27.7%[23]. - Gross profit decreased by approximately HKD 8.3 million or 8.7% to approximately HKD 87.2 million, with a gross margin of about 10.3%, slightly lower than the previous year's margin of 11.0%[25]. - Basic earnings per share for the year ended March 31, 2019, were HKD 0.0109, down from HKD 0.0197 for the year ended March 31, 2018[12]. - Profit attributable to owners of the company decreased by approximately HKD 8.7 million or 44.0% to about HKD 11.0 million for the year ended March 31, 2019, primarily due to increased financing costs and expected credit losses on financial assets[31]. - Other income and gains increased by approximately HKD 0.8 million or 84.3% to about HKD 1.7 million for the year ended March 31, 2019, primarily due to fair value changes of financial assets amounting to approximately HKD 1.5 million[26]. - Administrative and other operating expenses decreased by approximately HKD 4.0 million or 5.7% to about HKD 65.0 million for the year ended March 31, 2019, mainly due to a reduction in legal and professional fees by approximately HKD 7.9 million[27]. - Financing costs increased by approximately HKD 4.6 million or 184.7% to about HKD 7.1 million for the year ended March 31, 2019, attributed to bank borrowings rising from approximately HKD 95.2 million to about HKD 192.4 million[28]. - Total assets as of March 31, 2019, were approximately HKD 442.4 million, with total liabilities of about HKD 330.5 million and equity of HKD 111.9 million, maintaining a current ratio of approximately 1.2[33]. - The debt-to-equity ratio as of March 31, 2019, was approximately 174.0%, up from 101.9% as of March 31, 2018[34]. - Total capital expenditure for the year ended March 31, 2019, was approximately HKD 6.7 million, mainly for the purchase of properties, furniture, equipment, and intangible assets[35]. Strategic Outlook - The company remains confident in the future prospects of the Hong Kong construction market and will continue to focus on its core business as a general contractor[13]. - The company plans to explore new opportunities and potential acquisition targets to enhance shareholder value[13]. - The company aims to leverage its comprehensive skills and experience in the construction industry to explore property development opportunities in the future[14]. - The decrease in total revenue was primarily due to declines in superstructure and substructure construction services, offset by the increase in RMAA services[24]. - The company successfully transitioned from GEM to the main board of the Hong Kong Stock Exchange, enhancing its image and financing flexibility[11]. Corporate Governance - The company has maintained high standards of corporate governance, which is crucial for gaining and maintaining shareholder trust[94]. - The board of directors consists of three executive directors and three independent non-executive directors, ensuring a balanced governance structure[100]. - The company has adopted the corporate governance code as per the Stock Exchange Listing Rules and has complied with it for the fiscal year ending March 31, 2019[95]. - The chairman and executive director, Mr. Wu, unintentionally purchased 1,000,000 shares during a blackout period, which was later rectified by selling the shares[96]. - The company emphasizes the importance of compliance with the standard code among directors, especially regarding trading during blackout periods[97]. - The board regularly reviews the company's governance policies and is satisfied with their effectiveness[101]. - The company has purchased liability insurance for directors and senior officers to cover legal actions arising from their responsibilities[107]. - The executive directors have service contracts that are initially for three years, with provisions for termination and renewal[105]. - The company holds regular board meetings to review financial and operational performance, as well as overall strategy[108]. - The independent non-executive directors have confirmed their independence according to the listing rules, ensuring compliance with governance standards[100]. - The board held four meetings and one annual general meeting during the year, with a total of 42111 meetings recorded[109]. - The audit committee consists of three independent non-executive directors, with the chairman possessing appropriate accounting and financial management expertise[118]. - The remuneration committee reviewed the compensation of directors and senior management, deeming it fair and reasonable for the year ending March 31, 2019[119]. - The nomination committee is responsible for reviewing the board's structure and composition, and for recommending qualified candidates for directorship[121]. - The company has adopted a board diversity policy to enhance sustainable development and performance quality, considering various factors such as gender, age, and industry experience[123]. - The company secretary provides ongoing training materials to directors regarding applicable listing rules and regulations[113]. - The chairman and CEO roles are distinct, with the current chairman also serving as CEO to ensure stable leadership during rapid development[114]. - The audit committee reviewed the consolidated financial statements for the year ending March 31, 2019, confirming compliance with applicable accounting standards[118]. - The company has established three board committees: audit, remuneration, and nomination, each with clear written terms of reference[115]. - The company is committed to continuous professional development for directors, encouraging attendance at relevant seminars and external workshops[112]. - The board confirmed its responsibility for preparing the consolidated financial statements for the year ended March 31, 2019, ensuring they reflect the group's affairs and performance accurately[128]. - The external auditor's remuneration for audit services was HKD 1,260,000, while non-audit services amounted to HKD 201,000, totaling HKD 1,461,000[130]. - The board believes that the internal control system is sufficient and effective as of March 31, 2019, and has reviewed the adequacy of resources and qualifications of staff involved in accounting and financial reporting[129]. - The group has adopted a three-tier risk management approach to identify, assess, mitigate, and respond to risks, ensuring effective monitoring at all levels[131]. - The company secretary confirmed compliance with the relevant professional training requirements, having completed no less than 15 hours of training as per listing rules[132]. - The nomination committee will review the nomination policy to ensure its effectiveness[126]. - The company has established a policy for handling inside information to maintain confidentiality until timely disclosure is made according to listing rules[133]. - 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[136]. - The company has implemented various risk management procedures and guidelines to ensure long-term business development[129]. - The board is committed to maintaining good corporate governance practices and ensuring compliance with applicable laws and regulations[135]. Environmental Impact - The total greenhouse gas emissions for the reporting year amounted to approximately 1,213 tons, representing a 63.4% increase compared to the previous year, with a density increase of 34.5%[147]. - The total weight of air pollutants emitted was 5.66 kg, showing a significant decrease of 65.8% compared to the 2017/18 fiscal year[143]. - The total electricity consumption was approximately 1,774 MWh, which is an increase of 101.68% compared to the previous year, with a density increase of 66.09%[155]. - The total water consumption for the reporting year was 22,093 cubic meters, reflecting a 159.67% increase compared to the previous year, with a density increase of 113.8%[159]. - The total weight of non-hazardous waste disposed of was approximately 17,797 tons, with a successful reduction of 33.9% in quantity and 45.6% in density compared to the previous year[152]. - The company has implemented environmental policies to reduce air pollutant emissions, ensuring regular maintenance of all machinery and vehicles[143]. - The company has installed a wastewater purification system to reuse clean water from construction processes, contributing to reduced direct water consumption[159]. - The company encourages employees to turn off idle electrical appliances and has posted energy-saving labels in the office to promote reduced energy consumption[149]. - The company has taken measures to monitor its carbon footprint during business operations to minimize adverse environmental impacts[147]. - The company aims to minimize water pollution and improve water consumption efficiency through a centralized wastewater management system, contributing to reduced greenhouse gas emissions in the foreseeable future[163]. - The company has set a target to further promote greenhouse gas reduction, energy and water resource conservation, and efficient use of natural resources in the coming years[164]. - The group operates under various environmental regulations in Hong Kong, including air pollution, noise control, and waste disposal laws[198]. - The group has implemented multiple environmental protection measures to minimize business impact on the environment and natural resources[198]. - As of March 31, 2019, the group has not faced significant administrative penalties, fines, or criminal sanctions for violating any environmental laws or regulations[198]. - The group has complied with relevant laws and regulations that significantly impact its business and operations during the year[199]. Human Resources and Community Engagement - The group employed a total of 199 employees as of March 31, 2019, with employee costs amounting to approximately HKD 89.4 million, an increase from approximately HKD 73.3 million in the previous year[46]. - As of March 31, 2019, the employee gender ratio was 84% male and 16% female, with a total of 199 employees, including 122 frontline staff, 69 middle management, and 8 senior management[169]. - The average employee turnover rate is maintained at a healthy 2.44% due to a harmonious work environment and competitive employee benefits[171]. - The company reported a decrease in the accident frequency rate from 0.5 to 0.45 reportable incidents per 100,000 working hours from 2018 to 2019, with 18 reported work injury cases during the reporting year[173]. - A total of approximately 880 hours of training were provided to employees during the reporting year, with about 31% of employees participating in training courses[177]. - Each new subcontractor receives one hour of safety and health induction training on site, focusing on safety standards and emergency procedures[177]. - The company has implemented a comprehensive human resources management policy to ensure competitive employee benefits and fair compensation practices[167]. - The company strictly adheres to employment regulations and provides a competitive benefits package, including medical and dental plans, retirement benefits, and various leave options[167]. - Safety officers evaluate the safety performance of internal employees and subcontractors every six months to determine the need for additional safety training[178]. - The company has established a list of 159 approved subcontractors and 270 approved suppliers as of March 31, 2019[182]. - The company has committed to a procurement policy that promotes fair competition, ensuring the best economic interests in terms of price, quality, delivery, and service[181]. - The company donated HKD 1,564,800 to various community initiatives, including health and youth education programs[193]. - The company actively encourages subcontractors and suppliers to promote corporate social responsibility activities[182]. - The company has a zero-tolerance policy towards bribery and corruption, with no legal cases reported against it for corruption during the reporting year[191]. - The company emphasizes the importance of public health during construction projects, recognizing its responsibility to stakeholders[184]. - The company has invested in upstream land development and downstream vertical integration of the supply chain to strengthen its market position[182].