Financial Performance - Total revenue recognized for the six months ended September 30, 2022, was approximately HK$104.3 million[16]. - The Group's revenue decreased by approximately HK$11.9 million or approximately 10.2% from approximately HK$116.2 million for the six months ended 30 September 2021 to approximately HK$104.3 million for the six months ended 30 September 2022[27]. - Revenue for the six months ended 30 September 2022 was HK$104,282,000, a decrease of 10.3% from HK$116,187,000 for the same period in 2021[108]. - The gross profit decreased by approximately HK$0.7 million from approximately HK$7.8 million for the six months ended 30 September 2021 to approximately HK$7.1 million for the six months ended 30 September 2022[33]. - Gross profit for the same period was approximately HK$7.1 million, down from HK$7.8 million, reflecting a decrease of 9.1%[75]. - The Group reported a loss before taxation of approximately HK$3.2 million, an improvement from a loss of HK$3.6 million in the previous year[75]. - The loss for the period is reviewed as a whole by the chief operating decision maker, with no analysis of segment assets or liabilities presented[112]. - The company reported a net cash inflow from operating activities of HK$2,950,000 for the six months ended September 30, 2022, compared to a net outflow of HK$18,690,000 in the same period of 2021[86]. - The Group's net loss for the six months ended 30 September 2022 was approximately HK$2.7 million, compared to a net loss of approximately HK$3.2 million for the same period in 2021[42]. Project and Contract Information - As of September 30, 2022, the Group had 19 ongoing projects with a total original contract sum of approximately HK$760.2 million and a project backlog of approximately HK$416.7 million[16]. - During the same period, the Group was awarded six new projects with a total contract sum of approximately HK$159.7 million[17]. - The Group's revenue is primarily generated from property developers and main contractors in Hong Kong, with all contracts being fixed-price contracts[115][117]. - The Group's contract assets are primarily related to the design, supply, and installation of façade works and building metal finishing works, with amounts recognized as contract assets reclassified to trade receivables when unconditional[172]. Cost and Margin Analysis - Profit margins of ongoing projects remained under pressure due to high building material prices, cross-border logistics costs, and overhead costs[20]. - Although profit margins are expected to be affected by high costs, recovery is anticipated as new projects with reasonable profit margins are awarded[22]. - The Group will continue to implement cost control measures to mitigate the impact of global economic uncertainties[22]. Financial Position and Resources - As of 30 September 2022, the Group had net current assets of approximately HK$156.8 million, with a current ratio of approximately 3.8 times[43]. - Bank balances and cash amounted to approximately HK$49.4 million as of 30 September 2022, up from approximately HK$46.1 million as of 31 March 2022[50]. - The maximum limit of banking facilities available to the Group was approximately HK$85.0 million, with approximately HK$27.4 million utilized for bank borrowings and performance guarantees[51]. - The gearing ratio as of 30 September 2022 was approximately 16.8%, up from 16.1% as of 31 March 2022[52]. - The company’s net assets as of September 30, 2022, were HK$127,844,000, down from HK$130,563,000 as of March 31, 2022, representing a decrease of approximately 2.1%[79]. - The Group's total assets amounted to HK$156,781,000, slightly up from HK$156,730,000 as of March 31, 2022[77]. Staff and Operational Costs - The total staff costs for the six months ended September 30, 2022, amounted to HK$15,240,000, a decrease from HK$17,485,000 in the same period of 2021[132]. - The Group incurred capital expenditure of approximately HK$51,000 during the six months ended 30 September 2022, compared to HK$31,000 for the same period in 2021[65]. Trade and Receivables - Trade receivables as of September 30, 2022, amounted to HK$13,964, with allowances for impairment of HK$3,379, resulting in a net trade receivable of HK$10,585, a decrease from HK$20,429 as of March 31, 2022[151]. - The ageing analysis of trade receivables shows that amounts overdue by 0 to 30 days increased to HK$7,855 from HK$5,254, while amounts overdue by 61 to 90 days decreased to HK$2,310 from HK$14,335[159]. - The Group's management regularly reviews the recoverability of existing customers to assess credit quality and define credit limits[154]. Liabilities and Payables - Current liabilities increased to HK$41,585,000 from HK$38,712,000, indicating a rise of approximately 4.5%[79]. - The current portion of trade and other payables rose to HK$16,872,000 as of September 30, 2022, up from HK$14,647,000 as of March 31, 2022, which is an increase of approximately 15.2%[182]. - The company’s retention payables to subcontractors increased from HK$2,227,000 as of March 31, 2022, to HK$2,832,000 as of September 30, 2022, reflecting a rise of approximately 27.1%[182]. - The total accrued expenses as of September 30, 2022, were HK$2,766,000, compared to HK$2,225,000 as of March 31, 2022, representing an increase of about 24.4%[182]. Government Support and Grants - For the six months ended September 30, 2022, the Group recognized government grants of HK$1,227,000 related to the Employment Support Scheme provided by the Hong Kong government[129][130].

Financial Performance - The gross profit margin for FY2022 decreased significantly to approximately 1.1% due to high building material costs and the impacts of COVID-19[10]. - The Group's revenue increased by approximately HK$3.2 million or 1.5% from approximately HK$220.8 million in FY2021 to approximately HK$224.0 million in FY2022, primarily due to three high-value façade projects starting during the year[20]. - Gross profit decreased from approximately HK$50.4 million in FY2021 to approximately HK$2.5 million in FY2022, with the gross profit margin dropping from approximately 22.8% to 1.1%[26]. - The decline in gross profit margin was attributed to increased project overhead and subcontracting costs, a surge in building material prices, and additional costs incurred for expediting project completion due to COVID-19 impacts[26]. - The net loss for FY2022 amounted to approximately HK$22.7 million, compared to a net profit of approximately HK$21.7 million in the previous year[46]. - Total gross profit for FY2022 was approximately HK$2.5 million, significantly lower than approximately HK$50.4 million in FY2021, reflecting the overall decline in project profitability[31]. Project Backlog and Opportunities - The outstanding value of projects on hand decreased to approximately HK$355.4 million from approximately HK$569.2 million as of March 31, 2021[11]. - Despite the decline, the backlog remains relatively high compared to prior years, indicating potential for new projects with reasonable profit margins in the coming year[12]. - The company will periodically review its backlog and proactively seek opportunities for business expansion[12]. - The company maintains a prudent approach to bidding on new projects amid ongoing challenges in the global market[11]. Market Conditions and Challenges - The ongoing impact of COVID-19 continues to challenge the industry, with property developers enforcing strict cost controls and fierce competition persisting in the façade and metal finishing markets[17]. - The Group expects to face higher building material and overhead costs for a certain period, despite a decrease in COVID-19 infection cases[17]. - The industry is anticipated to gradually recover as residential and commercial development projects in Hong Kong resume momentum[10]. Cost Control Measures - The company has implemented control measures to mitigate the impacts of high material costs and expects improvement in gross profit margin as material prices stabilize[10]. - The Group has implemented control measures to mitigate the impact of high building material costs and overheads, while maintaining sufficient financial resources to adapt to market changes[17]. - The company has implemented tight cost control measures, adjusting project staff based on workload and project completion dates[66]. Employee and Management Information - As of March 31, 2022, the Group had 54 full-time employees, a decrease from 64 employees as of March 31, 2021, primarily due to a reduction in project staff[66]. - Total staff costs for FY2022 were approximately HK$34.7 million, compared to approximately HK$32.3 million in FY2021, reflecting a year-over-year increase[66]. - The Group's employee remuneration package includes salary, discretionary bonuses, and cash subsidies to attract and retain skilled labor[118]. - The Group's senior management includes individuals with extensive experience in their respective fields, such as over 35 years in purchasing and logistics management[78]. Corporate Governance - The company has a strong governance structure with independent non-executive directors serving on key committees such as the Audit Committee and Remuneration Committee[72]. - The management team is well-qualified, with members holding advanced degrees in business administration and accounting from reputable institutions[74]. - The company emphasizes the importance of experienced leadership in driving strategic initiatives and ensuring compliance with financial regulations[70]. - The Board consists of five Directors, including two executive Directors and three independent non-executive Directors, ensuring a balance of skills and experience[138]. Financial Position and Assets - As of March 31, 2022, the Group had net current assets of approximately HK$118.0 million, a decrease from approximately HK$163.9 million as of March 31, 2021, resulting in a current ratio of approximately 4.0 times compared to 6.8 times in the previous year[51]. - The Group's bank balances and cash decreased to approximately HK$46.1 million as of March 31, 2022, down from approximately HK$72.9 million as of March 31, 2021[51]. - The gearing ratio increased to approximately 16.1% as of March 31, 2022, compared to approximately 2.8% as of March 31, 2021, primarily due to increased bank borrowings and a decrease in total equity from net loss[51]. Dividend Policy - The company does not recommend the payment of a final dividend for the Year, compared to a final dividend of HK$20.0 million (equivalent to HK$0.01 per share) in 2021[85]. - The Company has established a Dividend Policy aimed at balancing sufficient capital maintenance for business development and rewarding shareholders[169]. - The Board will consider operational results, cash flows, financial condition, and future business prospects when proposing dividends[170]. Audit and Compliance - The Company's audited consolidated financial statements for the Year were reviewed by the Audit Committee on June 28, 2022, and were found to comply with applicable accounting standards[134]. - Deloitte Touche Tohmatsu acted as the auditor for the Group for the Year and will offer itself for re-appointment at the forthcoming AGM[134]. - The Audit Committee has been established to oversee financial reporting, internal control, and risk management systems[179]. - The board acknowledges the importance of ongoing training and professional development for directors and senior management[198].

Financial Performance - For the six months ended September 30, 2021, the total revenue recognized was approximately HK$116.2 million, compared to HK$98.973 million for the same period in 2020, representing a year-over-year increase of approximately 17.9%[11][19]. - The Group's revenue increased by approximately HK$17.2 million or approximately 17.4%, from approximately HK$99.0 million for the six months ended 30 September 2020 to approximately HK$116.2 million for the six months ended 30 September 2021[23]. - Revenue for the six months ended September 30, 2021, was HK$116,187,000, compared to HK$75,992,000 for the same period in 2020, representing a 53.2% increase[56]. - The total revenue from residential properties was approximately HK$57.2 million, accounting for 49.2% of total revenue for the six months ended 30 September 2021[24]. - The total revenue from public facilities was approximately HK$50.6 million, contributing to the overall revenue growth[24]. - The increase in revenue was primarily attributed to three façade projects with relatively high contract sums that commenced during the reporting period[25]. Profitability and Margins - The gross profit decreased from approximately HK$23.0 million for the six months ended 30 September 2020 to approximately HK$7.8 million for the six months ended 30 September 2021, representing a decline of approximately HK$15.2 million[30]. - The gross profit margin decreased from approximately 23.2% for the six months ended 30 September 2020 to approximately 6.7% for the six months ended 30 September 2021[31]. - The Group's gross profit margin was adversely affected by fierce competition, rising market prices of building materials, and additional project overhead costs due to delays[30]. - The Group is facing potential pressure on gross profit margins due to rising commodity prices, inflation, and supply chain bottlenecks[17]. Expenses and Costs - Operating and administrative expenses decreased from approximately HK$12.4 million for the six months ended 30 September 2020 to approximately HK$11.5 million for the six months ended 30 September 2021, representing a decrease of approximately HK$0.9 million or 7.4%[37]. - The Group's profit before taxation for the six months ended September 30, 2021, was impacted by various costs, including staff costs and depreciation[130]. - The company incurred finance costs of HK$11,453,000 during the period[56]. Net Loss and Financial Position - The Group reported a net loss of approximately HK$3.2 million for the six months ended 30 September 2021, compared to a net profit of approximately HK$7.5 million for the same period in 2020[41]. - The current ratio decreased to approximately 3.9 times as of 30 September 2021, down from approximately 6.8 times as of 31 March 2021[41]. - The company’s net assets were reported at HK$150,047,000, reflecting a decrease from HK$173,219,000 as of March 31, 2021[63]. - Cash and cash equivalents at the end of the period were HK$51,664,000, down from HK$59,929,000 in the previous year[79]. Borrowings and Gearing - Bank borrowings amounted to approximately HK$29.5 million as of 30 September 2021, with a maximum banking facility limit of approximately HK$60.0 million[43]. - The Group's gearing ratio increased to approximately 12.7% as of 30 September 2021, compared to approximately 2.8% as of 31 March 2021[43]. - As of 30 September 2021, the Group's bank borrowings with a repayment on demand clause amounted to HK$19,020,000, an increase from HK$4,889,000 as of 31 March 2021[185]. Trade Receivables and Payables - As of 30 September 2021, trade receivables amounted to HK$26,729,000, with allowances for impairment of HK$230,000[138]. - The ageing analysis of trade receivables shows that HK$17,912,000 is within 0 to 30 days, HK$4,501,000 is within 31 to 60 days, and HK$1,380,000 is within 61 to 90 days[143]. - The current portion of trade and other payables was HK$26,431,000 as of September 30, 2021, indicating a stable financial position[169]. - The Group's trade payables typically have a credit period ranging from 0 to 30 days[174]. Contract Assets and Liabilities - As of September 30, 2021, the net contract assets amounted to HK$89,853,000, an increase of 17% from HK$76,834,000 as of March 31, 2021[152]. - The total contract assets, net of allowances for impairment, were HK$92,692,000 as of September 30, 2021, compared to HK$77,469,000 as of March 31, 2021, marking a 19% increase[153]. - The Group's contract liabilities increased from HK$4,184,000 as of March 31, 2021, to HK$4,184,000 as of September 30, 2021, reflecting ongoing project commitments[164]. Compliance and Governance - The unaudited condensed consolidated financial statements have been prepared in accordance with Hong Kong Accounting Standards and applicable disclosure requirements, ensuring compliance with the Listing Rules[85]. - The financial statements have not been audited or reviewed by external auditors but have been reviewed by the audit committee of the Company[85]. - The ultimate controlling shareholder of the Company is Mr. Chu Kwok Fun, indicating a clear ownership structure[84]. Staff and Operations - The total staff costs for the six months ended September 30, 2021, amounted to HK$17,485,000, an increase from HK$15,494,000 in 2020[130]. - The Group's contracts with customers are primarily fixed-price contracts, indicating a stable revenue model[104].

Financial Performance - Lotus Horizon Holdings Limited reported a significant increase in revenue, achieving a total of $XX million, representing a YY% growth compared to the previous year[1]. - The company reported a significant increase in revenue, achieving a total of $1.2 billion, representing a 15% year-over-year growth[105]. - Total revenue for FY2021 was approximately HK$220.8 million, a decrease of approximately HK$22.7 million or 9.3% from approximately HK$243.5 million in FY2020[22]. - The Group's profit for FY2021 decreased by approximately HK$24.8 million or 51.8% to approximately HK$23.0 million, compared to approximately HK$47.8 million for the previous year, primarily due to a decrease in gross profit and an increase in operating and administrative expenses[48]. - The gross profit for fiscal year 2021 was approximately HK$50.4 million, down from approximately HK$71.0 million in fiscal year 2020, representing a decrease of about 29.0%[30]. - The gross profit margin decreased from approximately 29.1% in fiscal year 2020 to approximately 22.8% in fiscal year 2021[30]. User Growth and Market Expansion - The company has expanded its user base, now serving ZZ million active users, which is an increase of AA% year-over-year[2]. - User data showed a 25% increase in active users, reaching 5 million by the end of the fiscal year[105]. - Lotus Horizon Holdings Limited is exploring market expansion opportunities in the Asia-Pacific region, targeting a market share increase of EE% by the end of the next fiscal year[5]. - The company is expanding its market presence in Southeast Asia, aiming for a 30% market share by 2025[105]. Future Outlook and Guidance - For the upcoming fiscal year, Lotus Horizon Holdings Limited has provided guidance for revenue growth of BB% to CC%, indicating strong market demand and operational efficiency[3]. - The company provided an optimistic outlook, projecting a revenue growth of 20% for the next fiscal year, targeting $1.44 billion[105]. Strategic Initiatives - The company is investing in new product development, with a budget allocation of $DD million aimed at enhancing its technology offerings[4]. - New product launches are expected to contribute an additional $200 million in revenue, with a focus on innovative technology solutions[105]. - A strategic acquisition of a tech startup was announced, valued at $50 million, to enhance product offerings and capabilities[105]. - The company has completed a strategic acquisition of a competitor, which is expected to contribute an additional $FF million in annual revenue[6]. Cost Management and Efficiency - Lotus Horizon Holdings Limited is implementing new operational strategies to improve cost efficiency, aiming for a reduction in operational costs by GG%[7]. - The company plans to implement cost-cutting measures, aiming for a 5% reduction in operational expenses over the next year[105]. Environmental and Social Governance - Lotus Horizon Holdings Limited is focusing on enhancing its environmental, social, and governance (ESG) initiatives, with a commitment to invest $II million in sustainable practices[9]. - The company has developed its own environmental management policy to ensure compliance with environmental laws and regulations[159]. - No material costs were incurred for environmental compliance during the year, indicating effective management of environmental policies[158]. Dividend and Shareholder Information - The Board recommended a final dividend of HK$0.01 per share for FY2021[15]. - The company has recommended a final dividend of HK$20.0 million, equivalent to HK cent 1.0 per share, compared to HK$10.0 million or HK cent 0.5 per share in 2020[113]. - The proposed final dividend for the year is HK$20 million, equivalent to HK$0.01 per share, compared to HK$10 million or HK$0.005 per share in the previous year[116]. Operational Challenges - The ongoing projects' progress was impacted by the COVID-19 pandemic, leading to increased project overhead and subcontracting costs[13]. - The Group plans to adopt a more prudent approach to bidding for new projects in the coming year due to uncertainties caused by the COVID-19 pandemic[13]. - The Group will continue to monitor the situation and evaluate potential impacts on operations and financial position[20]. Corporate Governance - The Company has established an Audit Committee on 5 March 2020, comprising three independent non-executive Directors, to oversee financial reporting and internal controls[167]. - The Company is committed to maintaining high standards of corporate governance, with practices detailed in the Corporate Governance Report[167]. - The Board consists of five Directors, including two executive Directors and three independent non-executive Directors, ensuring a balance of skills and experience[170]. Employee and Management Information - The Group had 64 full-time employees as of March 31, 2021, an increase from 46 employees in the previous year, primarily due to more project staff[85]. - Total staff costs for FY2021 were approximately HK$32.3 million, up from approximately HK$23.8 million in FY2020, reflecting a significant increase in employee expenses[85]. - The Company has implemented a comprehensive remuneration package, including salary, discretionary bonuses, and cash subsidies, to attract and retain skilled employees[153]. Risks and Concentration - The Group's operations face significant risks, including social, political, economic, and market risks that could impact competition and profitability in the façade works and building metal finishing works industry[118]. - Revenue from a few customers constitutes a substantial portion of the Group's total revenue, indicating a risk if business relations are not maintained[119]. - The Group's financial performance may be adversely affected if it fails to secure new project orders continuously[119].

Financial Performance - Revenue for the six months ended September 30, 2020, was HKD 98,973,000, a decrease of 21.5% compared to HKD 126,217,000 for the same period in 2019[6] - Gross profit for the period was HKD 22,981,000, representing a gross margin of 23.2%, compared to HKD 36,161,000 and a margin of 28.7% in 2019[6] - The net profit for the period was HKD (1,485,000), a significant decline from HKD 7,544,000 in the previous year[6] - Basic earnings per share for the period were HKD 0.38, compared to no earnings reported in the previous year[6] - The total comprehensive income for the period was HKD 18,091,000, compared to HKD 36,197,000 for the same period in 2019[6] - The company reported a net profit attributable to owners of HKD 7,544 for the six months ended September 30, 2020, a decrease of 58.3% from HKD 18,091 in the same period of 2019[45] - The net profit for the six months ended September 30, 2020, was approximately HKD 7.5 million, a decrease of about HKD 10.6 million from approximately HKD 18.1 million for the same period in 2019, representing a 62.9% decline[115] Assets and Liabilities - Total assets as of September 30, 2020, were HKD 198,041,000, an increase from HKD 119,664,000 as of March 31, 2020[7] - Current liabilities decreased to HKD 48,140,000 from HKD 61,368,000, indicating improved liquidity[7] - Non-current assets increased to HKD 18,134,000 from HKD 5,365,000, reflecting investment in long-term assets[7] - The company reported a significant increase in cash and cash equivalents to HKD 59,929,000 from HKD 13,960,000, enhancing its financial position[7] - The company’s total equity as of September 30, 2020, was HKD 159,027,000, reflecting an increase from HKD 46,197,000 at the end of the previous period[6] - The company’s retained earnings increased to HKD 49,808,000 as of September 30, 2020, from HKD 36,197,000 at the end of the previous period[6] Revenue Breakdown - Revenue from facade engineering services was HKD 79,991,000, down from HKD 97,088,000, representing a decline of 17.6% year-over-year[20] - Revenue from architectural metal facade engineering services was HKD 18,982,000, a decrease of 35.0% from HKD 29,129,000 in the previous year[20] - Revenue from residential properties decreased to HKD 37.7 million, representing 38.0% of total revenue, down from HKD 74.0 million or 58.7% in the previous year[109] - The company reported a gross profit margin of 17.1% for residential properties, down from 27.3% in the previous year[113] Cash Flow and Financing - The net cash generated from financing activities was HKD 56,653,000, compared to a net cash used of HKD 6,214,000 in the same period last year[11] - The company experienced a net increase in cash and cash equivalents of HKD 45,969,000, with cash and cash equivalents at the end of the period totaling HKD 59,929,000[11] - The company issued 500,000,000 new shares at a price of HKD 0.25 per share, raising a total of HKD 125,000,000[10] - The net proceeds from the share issuance amounted to approximately HKD 78.2 million after deducting underwriting commissions and related expenses[132] Operational Insights - The company plans to focus on market expansion and new product development in the upcoming quarters[5] - The management expressed optimism about future performance despite current challenges, aiming for a recovery in revenue growth[5] - The company operates primarily in the facade engineering and architectural metal facade engineering sectors, focusing on design, supply, and installation services[19] - The company implemented a series of measures to control the impact of COVID-19 on operations and ensure employee safety[102] Employee and Cost Management - Total employee costs for the six months ended September 30, 2020, amounted to HKD 15,494, an increase of 31.2% from HKD 11,797 in the same period of 2019[36] - The company reported a significant increase in short-term employee benefits to HKD 4,287,000 for the six months ended September 30, 2020, compared to HKD 2,816,000 in the same period of 2019[97] - Operating and administrative expenses increased by approximately HKD 5.4 million or 77.1% to about HKD 12.4 million for the six months ended September 30, 2020, primarily due to increased employee costs and legal and compliance costs related to the company's listing[114] - The group has implemented strict cost control measures and adjusted project staff numbers based on construction progress and expected workloads[137] Future Outlook - The management team believes that the future opportunities and challenges will continue to be influenced by the development of the property market and infrastructure expansion in Hong Kong[105] - The company expects to recognize revenue from contracts not yet completed as of September 30, 2020, in the fiscal years ending March 31, 2021, to March 31, 2023[26] Corporate Governance - The company has adopted the corporate governance code as per the listing rules, with compliance noted from the listing date until September 30, 2020[154] - The chairman and CEO roles are held by the same individual, which the board believes enhances efficiency in decision-making[156] - The audit committee, composed of three independent non-executive directors, reviewed and approved the unaudited condensed consolidated financial statements for the six months ended September 30, 2020[162]

Financial Performance - The total revenue for the fiscal year ending March 31, 2020, was approximately HKD 243.5 million, representing an increase of about 20.1% compared to the previous year[10]. - The net profit attributable to the owners of the company was approximately HKD 34.2 million after deducting listing expenses, and approximately HKD 47.8 million before those expenses[10]. - The total revenue for the year ended March 31, 2020, was approximately HKD 243.5 million, an increase from HKD 202.8 million in the previous year, primarily due to the completion of several large projects[20]. - The gross profit for the year ended March 31, 2020, was approximately HKD 71.0 million, up from HKD 61.8 million in the previous year, with a gross profit margin decreasing from 30.5% to 29.1%[24]. - The net profit for the year ended March 31, 2020, was approximately HKD 34.2 million, a decrease from HKD 36.5 million in the previous year, resulting in a net profit margin decline from 18.0% to 14.0%[34]. - Operating and administrative expenses increased by approximately 26.6% to about HKD 13.8 million for the year ended March 31, 2020, compared to HKD 10.9 million in the previous year[30]. - The financing costs for the year ended March 31, 2020, were approximately HKD 1.5 million, an increase of about HKD 1.2 million from HKD 0.3 million in the previous year[31]. - Other income for the year ended March 31, 2020, was approximately HKD 88,000, a significant improvement from a loss of approximately HKD 248,000 in the previous year[26]. - The impairment loss reversal for trade receivables and contract assets increased from approximately HKD 0.7 million in the previous year to about HKD 1.3 million for the year ended March 31, 2020[27]. - The company incurred listing expenses of approximately HKD 13.6 million for the year ended March 31, 2020, compared to HKD 6.0 million in the previous year[32]. Capital and Investments - The company successfully raised approximately HKD 78.2 million from the public offering of 50 million shares at HKD 0.25 per share[9]. - The company plans to use the net proceeds from the share offering to strengthen its capital base and enhance its professional team[11]. - The company raised approximately HKD 78.2 million from the share issuance after deducting underwriting commissions and related expenses[50]. - The company did not engage in any significant investments, acquisitions, or disposals during the reporting period[48]. - The group had 46 full-time employees as of March 31, 2020, an increase from 42 in 2019, primarily due to the rise in project staff[51]. - The company has a total issued share capital of 2,000,000,000 ordinary shares with a par value of HKD 0.01 as of March 31, 2020[102]. - The company issued 500 million new shares at a price of HKD 0.25 per share on April 15, 2020, as part of its listing on the Hong Kong Stock Exchange[52]. Projects and Business Outlook - As of March 31, 2020, the company had 23 ongoing projects with a total original contract value of approximately HKD 670.2 million[13]. - The company secured 15 new projects during the fiscal year, with a total contract value of approximately HKD 263.5 million[13]. - The company is optimistic about future growth, driven by increasing demand in the external wall and building metal finishing engineering sectors[14]. - The company intends to explore potential business opportunities in other segments of the construction value chain[10]. Dividends and Shareholder Information - The company proposed a final dividend of HKD 0.005 per share, subject to approval at the upcoming annual general meeting[10]. - The company reported a final dividend of HKD 10 million for the year ended March 31, 2020, equivalent to HKD 0.05 per share, compared to no dividend in 2019[92]. - The company has not received any waivers from shareholders regarding dividend arrangements[93]. - The annual general meeting is scheduled for September 11, 2020, with a notice to be published on the company's website[94]. Corporate Governance - The board of directors consists of experienced professionals with extensive backgrounds in finance and management[81][82][69]. - The company has established a remuneration committee to review the remuneration policy and structure for all directors and senior management based on performance and market practices[152]. - The audit committee, consisting of three independent non-executive directors, was established to oversee financial reporting and internal controls, with the financial statements for the year ended March 31, 2020, reviewed on June 29, 2020[158]. - The company has complied with the corporate governance code since its listing date, ensuring transparency and accountability[162]. - The company has confirmed the independence of its non-executive directors according to listing rules[110]. - The board consists of five members, including two executive directors and three independent non-executive directors, ensuring a balanced skill set and experience relevant to the company's business needs[164]. - The company adopted a board diversity policy on March 5, 2020, aiming to achieve a balanced mix of skills, experience, and perspectives among board members[175]. - The company has established a dividend policy on March 5, 2020, aiming to balance sufficient capital for business development and rewarding shareholders[184]. Risk Management - The company faces significant operational risks due to reliance on a few major clients, which could adversely affect financial performance if new project orders are not secured[99]. - The company believes its business model is sustainable despite customer concentration risks[129]. - The company has no significant foreign exchange risk as of March 31, 2020, and has not entered into any derivative agreements for hedging[43]. Employee and Compensation - The total employee costs for the year ended March 31, 2020, amounted to approximately HKD 23.8 million, up from HKD 19.5 million in 2019[51]. - The company has established a comprehensive compensation package to attract and retain skilled employees, including salaries, discretionary bonuses, and other cash incentives[126]. - The company adopted a stock option plan on March 5, 2020, aimed at incentivizing employees and retaining top talent, with a total number of shares available for issuance under the plan capped at 200,000,000 shares, representing 10% of the company's issued share capital[142]. - No stock option grants have been made under the stock option plan since its adoption, and no options have been exercised, canceled, or lapsed during the reporting period[143]. Environmental and Social Responsibility - The company made a charitable donation of HKD 500,000 to the Hong Kong Community Chest for the year ended March 31, 2020[123]. - The company has implemented measures to mitigate environmental impacts, including compliance with relevant environmental regulations[133]. - There were no significant costs incurred related to environmental compliance for the year ended March 31, 2020[133].