Financial Performance - For the fiscal year ending March 31, 2022, the company reported a revenue of HKD 37,367,000, an increase from HKD 15,821,000 in the previous year, representing a growth of 135.0%[3] - The company incurred a loss before tax of HKD 39,965,000, compared to a loss of HKD 121,383,000 in the previous year, indicating an improvement of 67.0%[3] - The total comprehensive loss for the year was HKD 45,972,000, down from HKD 125,755,000, reflecting a reduction of 63.4%[3] - The basic and diluted loss per share for the year was HKD 0.10, compared to HKD 0.29 in the previous year, showing a decrease in loss per share[3] - The net loss for the year 2022 was HKD 41,187,000, a decrease from a loss of HKD 121,383,000 in 2021[32] - The company recorded a loss of approximately HKD 40.7 million for the year ended March 31, 2022, a decrease of about 66.4% from a loss of HKD 121.4 million in the previous year[63] Financial Position - As of March 31, 2022, the company had overdue lease receivables totaling HKD 1,832,209,000, with an impairment loss provision of HKD 985,092,000[7] - The company’s bank borrowings amounted to HKD 707,219,000, with cash and cash equivalents of only HKD 15,479,000, indicating a significant liquidity concern[7] - The company reported a net equity deficit of HKD 152,932,000 as of March 31, 2022, compared to a deficit of HKD 109,990,000 in the previous year[5] - Total assets increased to HKD 984,629,000 as of March 31, 2022, compared to HKD 846,967,000 as of March 31, 2021[23] - Total liabilities rose to HKD 1,137,561,000 as of March 31, 2022, from HKD 956,957,000 as of March 31, 2021[23] - The group's operating capital deficit was approximately HKD 245.0 million as of March 31, 2022, compared to an operating capital of approximately HKD 10.8 million in 2021[66] Revenue Segments - Total revenue from the leasing services segment was HKD 12,533,000, while the debt collection and credit investigation services segment generated HKD 24,834,000, leading to a total revenue of HKD 37,367,000 for the year ended March 31, 2022[21] - The group’s total income from debt collection services was HKD 16,835,000 and from credit investigation services was HKD 7,999,000 for the year ended March 31, 2022[23] Cost and Expenses - The total personnel costs for 2022 amounted to HKD 20,914,000, significantly higher than HKD 5,978,000 in 2021[31] - Other operating expenses amounted to approximately HKD 22.8 million, up about 105.4% from HKD 11.1 million in the previous year, primarily due to increased legal and professional fees[59] - Financial costs for the reporting period were approximately HKD 31.8 million, an increase of about 7.4% from HKD 29.6 million in the previous year, attributed to increased borrowing and financing activities[62] Loans and Financing - The company has entered into a loan agreement with its controlling shareholder for an unsecured loan of HKD 50,000,000 to improve working capital, with an interest rate of 6%[9] - The company entered into an unsecured loan agreement with Jinbang on October 21, 2021, for a total of HKD 50 million, with an interest rate of 6% and a repayment period of three years[102] - As of March 31, 2022, the outstanding balance payable to Jinbang was approximately HKD 10.9 million, compared to zero in the previous year[102] Corporate Governance - The company has adhered to the corporate governance code and has implemented most of the recommended best practices during the reporting period[106] - The company is committed to maintaining good corporate governance practices in compliance with the Hong Kong Stock Exchange listing rules[106] - The company’s audit committee has reviewed the unaudited consolidated financial statements for the reporting period[110] Strategic Initiatives - The company plans to establish more subsidiaries in China to expand its profitable and stable leasing business following the acquisition of Ultimate Harvest Global Limited[51] - The company has implemented a strategic plan to expand its operations beyond Hubei Province, reducing business risk exposure and enhancing its leasing services through due diligence and credit investigation services[52] - The company is exploring diversification of revenue sources and related business risks to enhance operational performance[84] Impact of COVID-19 - The group faced increased credit risk due to the economic pressures on small and medium-sized enterprises (SMEs) in China, particularly exacerbated by the COVID-19 pandemic[71] - The group experienced significant operational disruptions due to the COVID-19 pandemic, particularly affecting its business in Wuhan and Hubei Province[81] - The ongoing COVID-19 pandemic continues to disrupt global operations, significantly affecting the company's financial condition and cash flow[83] Audit and Reporting - The company has not completed the audit process for the fiscal year ending March 31, 2022, due to COVID-19 restrictions affecting operations in certain regions of China[105] - The company’s financial reporting has been delayed, and the unaudited annual results are subject to further adjustments based on the auditor's review[109] - The audited financial results and annual report are expected to be completed by August 14, 2022, pending the audit process[112]

Financial Performance - For the six months ended September 30, 2021, the company reported total revenue of HKD 7,582,000, a decrease of 26.7% compared to HKD 10,364,000 for the same period in 2020[9]. - The company incurred a net loss attributable to owners of HKD 355,000, compared to a profit of HKD 18,836,000 in the previous year, representing a significant decline[9]. - Total comprehensive income for the period was HKD (1,000), down from HKD 19,609,000 in the same period last year[9]. - The company reported a basic and diluted loss per share of HKD (0.09) compared to earnings per share of HKD 4.57 in the prior year[9]. - The company recorded a net cash outflow from operating activities of HKD (3,947,000) for the six months ending September 30, 2021, compared to an inflow of HKD 4,078,000 in the same period last year[30]. - The company reported a profit of approximately HKD 3,000 for the reporting period, a significant decrease from approximately HKD 18.8 million in the same period last year[164]. Assets and Liabilities - The company's total assets as of September 30, 2021, amounted to HKD 898,995,000, an increase from HKD 842,947,000 as of March 31, 2021[11]. - Current liabilities increased to HKD 869,158,000 from HKD 740,832,000, indicating a rise in financial obligations[11]. - The total liabilities rose to HKD 1,011,414,000 as of September 30, 2021, from HKD 956,957,000 as of March 31, 2021[57]. - The company’s total equity was HKD (112,808,000), reflecting a decrease from HKD (109,990,000) as of March 31, 2021[27]. - The company’s bank borrowings rose to HKD 547,435,000 from HKD 443,688,000, indicating increased leverage[11]. Cash Flow and Financing - The company’s cash and cash equivalents stood at HKD 8,907,000, up from HKD 5,671,000 at the end of the previous fiscal year[11]. - The company has unutilized tax losses of HKD 6,360,000 as of September 30, 2021, which can offset future profits[67]. - The group reported bank borrowings of approximately HKD 516,766,000 as of September 30, 2021, up from HKD 506,980,000 as of March 31, 2021[103]. - The group successfully renewed bank loans totaling approximately HKD 232.35 million for no less than 13 months as of September 30, 2021[185]. - The company entered into a loan financing agreement for HKD 50 million at an interest rate of 6%, repayable within three years[144]. Revenue Streams - Revenue from debt collection services reached HKD 1,435,000 for the six months ended September 30, 2021, compared to HKD 0 for the same period in 2020[60]. - Revenue from credit investigation services amounted to HKD 2,051,000 for the six months ended September 30, 2021, with no prior year comparison[60]. - Total revenue from customer contract income was HKD 3,486,000 for the six months ended September 30, 2021, with no prior year comparison[60]. - Interest income from sale and leaseback arrangements was HKD 4,093,000, down from HKD 10,078,000 in the same period of 2020, representing a decrease of approximately 59.4%[60]. - Revenue from financing lease services amounted to approximately HKD 4.1 million, a decrease of about 60.5% from approximately HKD 10.4 million in the same period last year, attributed to the economic impact of COVID-19[154]. Operational Challenges and Strategies - The company is facing significant uncertainty regarding its ability to continue as a going concern due to the adverse economic impact of the COVID-19 pandemic[36]. - The company is focusing on expanding its market presence and enhancing its product offerings to drive future growth[7]. - The company has implemented active cost-saving measures to improve operational cash flow and financial condition[41]. - The company continues to manage overdue receivables through litigation and debt restructuring to improve liquidity[187]. - The company aims to diversify its income sources and business risks beyond Hubei Province, focusing on developing leasing operations in China and the Asia-Pacific region[189]. Acquisitions and Investments - The company acquired a subsidiary, resulting in a cash inflow of HKD 5,243,000 during the investment activities[30]. - The acquisition of 51% of Anhua Lida was completed on August 25, 2021, with a total consideration including cash of HKD 3,831,256[119]. - The total identifiable net assets acquired amounted to HKD 67 million, with non-controlling interests of HKD 33 million, resulting in a total consideration of HKD 21,227 million[121][127]. - The company conditionally agreed to acquire 51% of Ultimate Harvest Global Limited for HKD 17 million[144]. - The group completed the acquisition of a 51% stake in Anhua Lida, which provides debt collection and credit investigation services, enhancing its leasing business[185]. Management and Governance - The company adopted a board diversity policy on December 18, 2015, to enhance performance quality through diverse board member perspectives[196]. - The board consists of four committees: Audit Committee, Nomination Committee, Remuneration Committee, and Risk Management Committee, established on December 18, 2015[197]. - The Audit Committee's main responsibilities include reviewing financial information and maintaining relationships with external auditors[199]. - The Nomination Committee is responsible for establishing criteria for selecting and appointing directors, ensuring the board has the necessary skills and diverse perspectives[200]. - The company emphasizes the importance of diversity in board composition, considering factors such as gender, age, cultural background, and professional qualifications[196].

Financial Performance - Total revenue for the year ended March 31, 2021, was HKD 15,821,000, a decrease of 42.7% compared to HKD 27,484,000 in 2020[10]. - The company reported a loss before tax of HKD (121,383,000) for the year, compared to a loss of HKD (65,936,000) in the previous year[10]. - Total assets decreased to HKD 846,967,000 in 2021 from HKD 915,084,000 in 2020, representing a decline of 7.4%[11]. - Total liabilities increased to HKD (956,957,000) in 2021 from HKD (899,802,000) in 2020, indicating a rise of 6.3%[11]. - The company reported a loss of approximately HKD 121.4 million for the year ended March 31, 2021, an increase of about 84.7% compared to a loss of approximately HKD 65.7 million for the same period last year, mainly due to increased impairment losses on financial assets[170]. - Other income for the group was approximately HKD 1.1 million, an increase of about 167.2% compared to approximately HKD 0.4 million for the same period last year, mainly due to increased government subsidies and the reversal of excess provisions for operating expenses[168]. - Financial costs decreased to approximately HKD 29.6 million, down about 1.6% from approximately HKD 30.1 million in the previous year, primarily due to a reduction in the principal amount of bank borrowings[169]. - Personnel costs for the reporting period were approximately HKD 6.0 million, down about 7.6% from HKD 6.5 million for the previous year, primarily due to a reduction in employee numbers[164]. - Other operating expenses increased to approximately HKD 11.1 million, up about 7.2% from HKD 10.3 million in the previous year, mainly due to increased expenses related to the recovery of lease receivables[165]. Corporate Governance - The company is committed to implementing good corporate governance and has adhered to most of the best practices outlined in the corporate governance code[37]. - The board of directors is composed of experienced individuals who hold regular meetings to discuss operational matters affecting the company[37]. - The company has appointed independent non-executive directors to provide oversight and independent opinions to the board[29][30][32]. - The company has a strong focus on strategic development and corporate governance, with key personnel having over 20 years of experience in capital markets and asset management[26]. - The company has established a trust that holds interests in shares, indicating a structured approach to shareholding and governance[23][24]. - The company has adopted a shareholder communication policy to ensure timely dissemination of financial reports and other corporate communications[78]. - The company has no chairman currently, but the board believes it can ensure a balanced distribution of power and authority through its operations[37]. - The company plans to timely arrange the election of a new chairman to strengthen its governance structure[37]. - The board reviews the effectiveness of the risk management and internal control systems at least annually[75]. - The company ensures compliance with corporate governance codes and has reviewed its governance policies and practices during the year[69]. Risk Management - The company is committed to maintaining long-term cooperative relationships with quality suppliers and contractors through open bidding processes[101]. - The company has established a Risk Management Committee responsible for overseeing risk management policies and practices, including reviewing financing lease projects exceeding RMB 100 million[68]. - The board is responsible for maintaining effective risk management and internal control systems, with no significant risks or control deficiencies identified during the review period[75]. - The company’s credit risk management is crucial for its business sustainability, especially given the higher default risk among SMEs in China due to ongoing economic pressures[182]. Operational Strategy - The company plans to focus on recovering overdue financing lease receivables and expanding risk prevention coverage[16]. - The company is considering financing lease applications outside Hubei Province to diversify business risks[16]. - The automotive operating lease business is in the late stages of development, utilizing the company's national financing lease license[16]. - The company is actively evaluating financing lease applications, including two loans totaling RMB 154 million (approximately HKD 183 million) and two entrusted loans totaling RMB 1,000 million (approximately HKD 1,190 million) from borrowers outside Hubei Province[195]. - The company is in the late stages of establishing its automotive operating lease business in China[197]. - The company has not entered into new financing lease agreements since the first quarter of 2021, but the board believes that the financing lease business will improve as the overall economic environment in China and the global COVID-19 pandemic gradually improve[197]. Environmental and Social Responsibility - The company emphasizes sustainable development and integrates environmental and social factors into its management considerations[87]. - The company has established various policies to manage and monitor risks related to environmental, employment, operational practices, and community engagement[87]. - The company aims to provide a healthy and safe working environment and has implemented fair promotion mechanisms for employees[99]. - The company has implemented measures to enhance employee health and safety, adhering to relevant laws and regulations, with no work-related accidents reported during the reporting period[133]. - The company encourages the use of reusable utensils and environmentally friendly cleaning products in its operations[115]. - The company has not reported any violations of applicable environmental laws and regulations during the reporting period[107]. - The company has implemented energy-saving measures, including setting devices to energy-saving modes and encouraging the use of electronic media to reduce paper consumption[113]. - The company has established a quality management policy aimed at adding value to services provided, collecting customer feedback to improve service quality[140]. Shareholder Engagement - The company encourages shareholder participation in annual general meetings, where board members and external auditors are present to address shareholder inquiries[78]. - Shareholders holding at least 10% of the paid-up capital can request the board to convene a special general meeting[80]. - The company has conducted various investor activities, such as performance briefings, to enhance investor recognition[98].

Financial Performance - Revenue for the six months ended September 30, 2020, was HKD 10,364,000, a decrease of 39.5% compared to HKD 17,058,000 for the same period in 2019[7] - Other income increased to HKD 319,000 from HKD 247,000, reflecting a growth of 29.1% year-on-year[7] - The company reported a profit before tax of HKD 18,836,000, significantly up from HKD 3,871,000 in the previous year, marking an increase of 386.5%[7] - The total comprehensive income for the period was HKD 19,609,000, compared to a loss of HKD 3,663,000 in the same period last year[7] - Basic and diluted earnings per share were HKD 4.57, a substantial improvement from a loss of HKD 0.03 per share in the prior year[7] - Total comprehensive income for the six months ended September 30, 2020, was HKD 19,609,000, compared to HKD 18,836,000 for the same period in 2019, reflecting an increase of approximately 4.1%[21] - Profit before tax for the six months ended September 30, 2020, was HKD 18,836,000, compared to a loss of HKD 133,000 in the same period of 2019[50] - The profit attributable to the company's owners for the period was approximately HKD 18.8 million, a significant improvement from a loss of approximately HKD 0.1 million in the same period last year[97] Assets and Liabilities - Total assets as of September 30, 2020, amounted to HKD 850,916,000, an increase from HKD 791,100,000 as of March 31, 2020[11] - Current liabilities increased to HKD 646,438,000 from HKD 392,901,000, indicating a rise of 64.5%[11] - The company's net assets rose to HKD 35,133,000 from HKD 15,282,000, reflecting a growth of 130.5%[14] - The group reported a total of HKD 1,827,182,000 in overdue lease receivables as of September 30, 2020, with an impairment loss provision of HKD 904,043,000[31] - Cash and cash equivalents decreased by HKD 5,274,000 during the reporting period, ending with HKD 15,965,000 as of September 30, 2020, compared to HKD 34,298,000 in the previous year[24] - The group’s total liabilities increased to HKD 19,252,000 as of September 30, 2020, from HKD 17,956,000 as of March 31, 2020, indicating a growth of about 7.2%[70] - The total bank borrowings due within one year amounted to approximately HKD 354.5 million, an increase from HKD 107.8 million as of March 31, 2020[99] Cash Flow and Financing - Net cash generated from operating activities for the six months ended September 30, 2020, was HKD 4,078,000, a decrease of 80.9% from HKD 21,351,000 in the previous year[24] - The group is actively pursuing cost-saving measures to improve operational cash flow and financial condition[35] - New bank financing or extensions of existing financing will be arranged as necessary to ensure sufficient working capital for at least the next twelve months[36] - The group’s bank borrowings amounted to approximately HKD 354,471,000, which are due within 12 months after the reporting date[31] - The group’s cash flow forecast for the next 18 months has been prepared to assess the availability of financial resources for ongoing operations[34] Impairment and Provisions - The financial assets impairment loss reversed amounted to HKD 29,997,000, compared to HKD 9,362,000 in the previous year, showing a significant recovery[7] - The group recognized an impairment loss of approximately HKD 42,000,000 on property, plant, and equipment due to adverse impacts from the overall economic environment and COVID-19[54] - The total impairment provision for lease receivables and sale-leaseback arrangements was HKD 904,043,000 as of September 30, 2020, slightly decreased from HKD 910,551,000 as of March 31, 2020, indicating a reduction of approximately 0.6%[62] Business Strategy and Market Presence - The company plans to continue expanding its market presence and developing new products and technologies to enhance its competitive edge[6] - The group has adopted a prudent strategy to develop its business amid ongoing static economic conditions, focusing more on recovering overdue lease receivables and enhancing internal controls[90] - The group plans to diversify its business outside of Hubei Province and develop new business in China and the Asia-Pacific region as new revenue sources[116] - The group is focused on recovering overdue lease receivables and expanding risk prevention coverage[116] Shareholding Structure - As of September 30, 2020, the total number of issued shares was 412,509,000[145] - Huang Yueyi and Huang Yiyi collectively hold approximately 49.2% of the total issued shares, equating to 202,943,525 shares[141] - Major shareholder Huang Yueyi holds a total of 202,943,525 shares, representing approximately 49.2% of the issued shares[148] - Major shareholder Zhao Linghuan owns 84,752,255 shares, accounting for 20.55% of the issued shares[151] - The company has a significant concentration of ownership among major shareholders, with the top shareholders holding over 49% of the total shares[148] Corporate Governance - The board of directors consists of eight members, including one executive director and three independent non-executive directors, responsible for overseeing the company's overall operations and financial performance[120] - The company has adopted a board diversity policy to enhance performance quality and maintain a competitive advantage through diverse board member perspectives[125] - The company established four board committees on December 18, 2015, including the Audit Committee, Nomination Committee, Remuneration Committee, and Risk Management Committee[126] - The Audit Committee is responsible for reviewing the group's financial information and overseeing the financial reporting system, with two non-executive directors and three independent non-executive directors as members[128] - The company is committed to maintaining effective risk management and internal control systems, with annual reviews conducted by the board[136] COVID-19 Impact - The impact of the COVID-19 pandemic has introduced more uncertainties into the group's operating environment, affecting its operations and financial condition[86] - The group faced significant challenges and uncertainties due to the COVID-19 pandemic, which forced the suspension of operations in Hubei Province and Wuhan since January 2020[116] - Despite the gradual lifting of restrictions, the group's operations and productivity continue to face major challenges[116] - The ongoing uncertainty of the COVID-19 pandemic and global political tensions have severely impacted the global economy, with domestic economic recovery facing pressure[116]

Financial Performance - For the six months ended September 30, 2019, the group's revenue was HKD 17,058,000, a decrease of 34.5% compared to HKD 26,025,000 in the same period of 2018[11]. - The group reported a loss of HKD 133,000 for the period, significantly improved from a loss of HKD 56,576,000 in the previous year[11]. - Total comprehensive loss for the period was HKD 3,663,000, compared to a total comprehensive loss of HKD 72,587,000 in the same period last year[11]. - The company reported a net loss of approximately HKD 133,000,000 for the six months ended[31]. - The company reported a loss attributable to shareholders of HKD 133,000 for the six months ended September 30, 2019, compared to a loss of HKD 56,576,000 for the same period in 2018[52]. - The company's loss for the period was approximately HKD 0.1 million, a decrease of about 99.8% from a loss of approximately HKD 56.6 million in the same period last year, primarily due to the reversal of impairment losses[94]. Asset Management - As of September 30, 2019, the total assets were HKD 766,224,000, slightly up from HKD 765,660,000 as of March 31, 2019[14]. - The finance lease receivables amounted to HKD 929,179,000, with non-current finance lease receivables at HKD 221,438,000[14]. - The total financing lease receivables amounted to HKD 1,781,639,000 as of September 30, 2019, down from HKD 1,874,743,000 as of March 31, 2019[58]. - The company recognized an impairment of approximately HKD 852,460,000 on overdue receivables as of September 30, 2019[31]. - The company reported an impairment provision of HKD 852,460,000 for financing lease receivables as of September 30, 2019, compared to HKD 899,192,000 as of March 31, 2019[65]. - The impairment loss on finance lease receivables was HKD 9,362,000, a substantial recovery compared to an impairment loss of HKD 57,070,000 in the prior year[11]. Cash Flow and Financing - The company maintained cash and cash equivalents of approximately HKD 34,298,000 as of September 30, 2019[31]. - The net cash generated from operating activities for the six months ended September 30, 2019, was HKD 21,351,000, compared to HKD 1,808,000 for the same period in 2018[23]. - The company reported a net cash outflow from financing activities of HKD 29,908,000 for the six months ended September 30, 2019[23]. - The total bank borrowings amounted to approximately HKD 619,268,000, with HKD 170,021,000 due within the next 12 months[31]. - The company's interest-bearing borrowings included floating rate borrowings of HKD 591.5 million and fixed rate borrowings of HKD 27.7 million as of September 30, 2019[75]. - Interest expenses for borrowings decreased to HKD 15,381,000 in the six months ended September 30, 2019, down from HKD 19,375,000 in the same period of 2018, representing a reduction of approximately 20.5%[44]. Business Strategy and Future Plans - The group plans to expand its business in China and the Asia-Pacific region to diversify revenue sources and mitigate business risks[8]. - The group aims to enhance asset quality management and increase the coverage of risk prevention measures[8]. - The group is currently evaluating potential opportunities in various industries, including property management technology[8]. - The group continues to focus on recovering overdue finance lease receivables and managing volatile assets[8]. - The group aims to optimize asset allocation and explore potential development opportunities to maintain growth and profitability[108]. - The group plans to expand the coverage of risk prevention and strengthen asset quality management in response to worsening asset quality due to international trade disputes[108]. Corporate Governance - The company is committed to good corporate governance and has complied with most of the recommended best practices in the corporate governance code[110]. - The company has established four board committees: Audit Committee, Nomination Committee, Remuneration Committee, and Risk Management Committee[117]. - The audit committee includes two non-executive directors and three independent non-executive directors, ensuring oversight of the financial reporting process[119]. - The company has adopted a board diversity policy to enhance performance quality and maintain a competitive advantage[116]. - The board acknowledges its responsibility for preparing financial statements that fairly reflect the group's financial position[125]. Shareholder Information - As of September 30, 2019, the total number of issued shares was 412,509,000[135]. - Huang Yueyi holds a total equity of 202,543,525 shares, representing approximately 49.10% of the issued shares[132]. - The shares held by Perfect Honour Limited amount to 143,805,903, representing about 34.86% of the total issued shares[133]. - Major shareholders include Ms. Huang Yueyi and Ms. Huang Yiyi, each holding 202,543,525 shares, representing approximately 49.10% of the issued shares[138]. - The company has no other disclosed interests or short positions by directors or senior management as of September 30, 2019[135]. Legal and Compliance - The company has established a comprehensive framework for managing legal disputes related to lease payment recoveries, including asset freezes[154]. - The company mandates due diligence on new clients to ensure collateral ownership can be transferred before entering agreements[166]. - Covenantors must refer any new business opportunities that may compete with the company's financing leasing business, providing necessary details for consideration[163]. - The company has established a conflict of interest check commitment with Jinbang to ensure that new customers are not existing customers of China Rongzhong[173].

Financial Performance - For the fiscal year ending March 31, 2019, the company reported total revenue of HKD 70,784,000, a decrease of 44.9% compared to HKD 128,503,000 in 2018[21] - The company incurred a loss before tax of HKD 78,635,000, improving from a loss of HKD 335,453,000 in the previous year[21] - The company reported a net loss attributable to owners of HKD 91,410,000 for the year ended March 31, 2019[92] - The company reported revenue of approximately HKD 70.8 million for the period, a decrease of about 44.9% compared to approximately HKD 128.5 million for the same period last year[187] - The company reported a loss of approximately HKD 91.4 million for the year, a reduction of about 74.1% compared to a loss of approximately HKD 352.5 million in the previous year[193] Assets and Liabilities - Total assets decreased to HKD 1,043,715,000 in 2019 from HKD 1,245,029,000 in 2018, representing a decline of 16.2%[22] - Total liabilities also decreased to HKD 959,091,000 in 2019 from HKD 1,036,480,000 in 2018, a reduction of 7.5%[22] - The company's total equity fell to HKD 84,624,000 in 2019, down 59.5% from HKD 208,549,000 in 2018[22] - As of March 31, 2019, the group's bank balances and cash, along with short-term bank deposits, totaled approximately HKD 43.2 million, a decrease of about HKD 22.5 million from HKD 65.7 million in 2018[196] - The group's operating capital (current assets minus current liabilities) and total equity were approximately HKD 309.2 million and HKD 84.6 million, respectively, compared to HKD 223.8 million and HKD 208.5 million in 2018[196] Governance and Management - The board of directors includes independent non-executive directors with over 20 years of experience in banking and finance, enhancing corporate governance[38] - The company is committed to maintaining strong corporate governance practices, as evidenced by the independent oversight provided by its directors[38] - The governance report for the year ending March 31, 2019, was presented by the board, reflecting the company's commitment to transparency[45] - The company has established a clear division of responsibilities between the chairman and the CEO to enhance governance practices[49] - The company has adopted a board diversity policy to enhance performance quality, considering factors such as gender, age, cultural background, and professional qualifications[79] Risk Management - The company is focusing on recovering overdue financial assets and enhancing internal controls to mitigate risks[27] - The macroeconomic outlook remains unstable, which may lead to further asset quality deterioration and higher liquidity risks[27] - The company has established a risk management and internal control system, which was deemed effective and sufficient by external independent auditors[96] - The risk management committee reviewed financing lease projects exceeding RMB 100 million during the reporting period[88] - The company held one meeting of the risk management committee to review proposed financing lease arrangements[88] Environmental, Social, and Governance (ESG) - The company emphasizes sustainable development and integrates environmental and social factors into its management considerations[107] - The environmental, social, and governance (ESG) report outlines the company's sustainable development management methods and performance in various areas[108] - The ESG report is prepared in accordance with the Main Board Listing Rules Appendix 27 and includes key performance indicators deemed significant by the company[109] - Stakeholder engagement is crucial for formulating sustainable development strategies, allowing the company to understand risks and opportunities[112] - The company has implemented an "Environmental Procurement Policy" to support the purchase of recycled and environmentally friendly products[154] Employee and Community Engagement - The company aims to provide a healthy and safe working environment and has established a fair promotion mechanism for employees[119] - The company has developed a customer feedback system to assess the services provided[120] - The company prioritizes local employment opportunities to promote community development[124] - The employee count as of March 31, 2019, was 27, with a gender distribution of 59% male and 41% female[141] - Employee turnover rates for 2019 were 44% for males and 45% for females, indicating a significant increase compared to 2018[144] Financial Management - The company has bank borrowings of HKD 160,855,000 due within one year[92] - Financial costs decreased to approximately HKD 37.0 million, down about 20.1% from approximately HKD 46.3 million in the previous year, primarily due to a reduction in bank borrowings[192] - The debt-to-equity ratio as of March 31, 2019, was approximately 782.7%, significantly higher than 350.3% in 2018[196] - Personnel costs increased to approximately HKD 8.5 million, up about 23.6% from approximately HKD 6.9 million in the previous year, primarily due to hiring in the legal and collections departments[188] - Other income increased to approximately HKD 3.1 million, up about 153.0% from approximately HKD 1.2 million in the previous year, mainly due to increased government subsidies[191]