除「董事及高級管理層」一節已披露吳醒梅女 士為施丹妮女士及施偉倫先生的母親以及施 丹妮女士為施偉倫先生的姐姐外，董事會成 員之間並無任何財務、業務、家族或其他重大 ╱相關關係。 17 The Company has renewed the letter of appointment with each of the independent non-executive Directors for a term of two years commencing on 16 March 2024 unless terminated by not less than three months prior written notice served by either party on the other or otherwise in accordance with the terms of the letter of appointment. Each of such appointments is subject to the rotation and retirement provisions in the ar ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部 分內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 WINSON HOLDINGS HONG KONG LIMITED 永順控股香港有限公司 （於開曼群島註冊成立之有限公司） （股份代號：6812） 截至2024年3月31日止年度的年度業績公告 永順控股香港有限公司（「本公司」，連同其附屬公司，統稱「本集團」）董事（「董事」） 會（「董事會」）宣佈本集團截至2024年3月31日止年度（「 2024財年」）的綜合業績。 本公告列載本公司2024財年年報（「 2024年年報」）全文，並符合香港聯合交易所有 限公司（「聯交所」）證券上市規則（「上市規則」）有關年度業績初步公告附載資料 的相關規定。2024年年報將可於聯交所網站(www.hkexnews.hk)及可於本公司網站 (www.winsongrouphk.com)查閱。 1 Annual Report 年報 2024 Annual Report 2024 年報 CONTENTS 目錄 2 Corpora ...

Financial Performance - Revenue for the six months ended September 30, 2023, was HK$233,710,000, a decrease of 1.5% compared to HK$236,071,000 for the same period in 2022[14]. - Gross profit for the period was HK$39,786,000, down 3.2% from HK$41,081,000 in the previous year[14]. - Profit before income tax was HK$15,646,000, representing a decline of 16.4% from HK$18,607,000 in the prior year[14]. - Profit for the period attributable to owners of the Company was HK$12,830,000, a decrease of 14.3% compared to HK$14,975,000 in 2022[14]. - Basic and diluted earnings per share for the period were HK2.14 cents, down from HK2.50 cents in the same period last year[14]. - The profit for the period ended September 30, 2023, was HK$12,830,000, compared to HK$14,975,000 for the same period in 2022, indicating a decrease of about 7.6%[16]. - The Group's profit for the period was HK$12,830,000, compared to HK$14,975,000 for the same period in 2022, reflecting a decline of 14.3%[42][44]. - Profit for the Period decreased by approximately HK$2.1 million or 14.3% to approximately HK$12.8 million, with a net profit margin of approximately 5.5%[117][118]. Assets and Liabilities - Non-current assets increased to HK$58,267,000 as of September 30, 2023, compared to HK$32,730,000 as of March 31, 2023[15]. - Current assets totaled HK$220,817,000, a decrease from HK$239,438,000 as of March 31, 2023[15]. - Net current assets were HK$168,095,000, down from HK$187,650,000 as of March 31, 2023[15]. - Total assets as of September 30, 2023, were HK$279,329,000, an increase from HK$275,013,000 as of March 31, 2023[49]. - Total liabilities increased to HK$65,114,000 as of September 30, 2023, compared to HK$63,728,000 as of March 31, 2023[49]. - The Group had cash and cash equivalents of approximately HK$116.1 million, down from approximately HK$154.0 million[127]. Cash Flow and Investments - Net cash used in operating activities for the six months ended September 30, 2023, was HK$2,378,000, a significant decline from the net cash generated of HK$27,714,000 in the same period of 2022[18]. - Cash and cash equivalents at the end of the period decreased to HK$116,101,000 from HK$134,542,000, reflecting a decrease of approximately 13.7%[18]. - The net cash used in investing activities was HK$24,714,000 for the six months ended September 30, 2023, compared to HK$598,000 in the same period of 2022, indicating a substantial increase in investment outflows[18]. - Additions to property, plant, and equipment amounted to approximately HK$28,583,000, significantly higher than the HK$527,000 recorded in the same period last year[75]. Dividends - The company paid a final dividend of HK$9,900,000 for the period, compared to HK$8,838,000 in the previous period, marking an increase of about 12%[16]. - The final dividend paid was HK$9,900,000, with a per share dividend of HK1.650 cents, compared to HK$8,838,000 and HK1.473 cents per share in the previous year, marking an increase of approximately 12.0% in total dividend[65][67]. - The Group has resolved not to declare any interim dividend for the six months ended 30 September 2023, compared to no interim dividend declared in the same period last year[68]. Operational Highlights - The principal activities of the company include providing environmental hygiene and airline catering support services in Hong Kong[21]. - Revenue from environmental hygiene and related services was HK$231,673,000, while revenue from airline catering support services was HK$2,037,000[54][56]. - Segment results for environmental hygiene and related services were HK$21,139,000, while airline catering support services contributed HK$151,000 to the segment results[42]. - The Group secured 13 new environmental hygiene service projects during the Period, with a total contract value exceeding HK$67.0 million, compared to 10 projects valued at HK$22.5 million in the same period of 2022[97]. - The Group's contract renewal rate for the Period remained stable at 88.9%, slightly up from 88.6% in the Comparative Period[97]. - The overall tender success rate increased to 30.7% from 20.5% in the Comparative Period[97]. - The airline catering support services resumed operation in April 2023, although it did not contribute significantly to revenue during the Period[101]. Governance and Compliance - The Company has complied with the Corporate Governance Code during the six months ended September 30, 2023, with some deviations noted[183]. - The Company has established an Audit Committee to oversee financial reporting, risk management, and internal control systems[190]. - The Company has three independent non-executive Directors on its Audit Committee, ensuring oversight and governance[189]. - The Company has adopted the Model Code as its code of conduct for securities transactions by Directors, with all Directors confirming compliance during the reporting period[195]. - The Company has made specific inquiries to all Directors regarding their compliance with the Model Code, confirming adherence to the required standards[197]. Future Outlook - The Company has not provided specific guidance for future performance or new product developments in the interim report[10]. - The Group anticipates continuous growth in demand for environmental hygiene services, particularly in hospitality, food and beverage, and retail sectors[103]. - The Group is exploring potential horizontal business development opportunities, including geographic expansion and property-related synergized services[103].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部 分內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 WINSON HOLDINGS HONG KONG LIMITED 永 順 控 股 香 港 有 限 公 司 （於開曼群島註冊成立之有限公司） 6812 （股份代號： ） 2023 9 30 截至 年 月 日止六個月的中期業績公告 永順控股香港有限公司（「本公司」，連同其附屬公司，統稱為「本集團」）董事（「董事」） 2023 9 30 會（「董事會」）宣佈本集團截至 年 月 日止六個月的未經審核簡明綜合業績。本 2023 公告列載本公司 年中期報告全文，並符合香港聯合交易所有限公司證券上市規 則（「上市規則」）有關中期業績初步公告附載資料的相關規定。 Interim Report 2023 中期報告 CORPORATE INFORMATION ...

Financial Performance - Revenue for the year ended March 31, 2023, was HK$462.2 million, a decrease of 2.4% compared to HK$473.7 million in 2022[12] - Gross profit increased to HK$77.5 million, reflecting a growth of 1.5% from HK$76.3 million in the previous year[12] - Profit for the year rose to HK$24.7 million, marking a 12.0% increase from HK$22.1 million in 2022[12] - The Group achieved a total revenue of approximately HK$462.2 million for FY2023, representing a slight decrease of 2.4% compared to FY2022's revenue of approximately HK$473.7 million[38] - The Group's gross profit for FY2023 rose to HK$77.5 million, compared to HK$76.3 million for FY2022, despite a slight drop in revenue[30] - Profit attributable to owners of the Company for FY2023 was approximately HK$24.7 million, representing about 5.4% of total revenue, compared to HK$22.1 million or 4.7% in FY2022[55] Assets and Liabilities - Total assets grew by 4.08% to HK$275.0 million, up from HK$264.2 million in the prior year[12] - Total equity increased by 8.14% to HK$211.3 million, compared to HK$195.4 million in 2022[12] - As of March 31, 2023, total current assets were approximately HK$239.4 million, while current liabilities were approximately HK$51.8 million, resulting in a current ratio of approximately 4.6 times[64] - Total assets as of March 31, 2023, were approximately HK$275.0 million, financed by total liabilities of approximately HK$63.7 million and total equity of approximately HK$211.3 million[65] - The Group's gearing ratio was 0.01 times as of March 31, 2023, indicating a stable capital structure with no changes during the year[66] Operational Highlights - The number of travelers to Hong Kong from January to March 2023 reached over 4.4 million, significantly up from 0.6 million for the entire year of 2022[16] - The company secured new environmental hygiene service contracts with various sectors, including public healthcare and hospitality, contributing to organic growth[17] - The Group anticipates growth in demand for environmental hygiene services, particularly in the hospitality, food and beverage, and retail sectors, due to an influx of travelers[22] - The Group's airline catering support services, temporarily suspended since March 2020, resumed in April 2023 as passenger air traffic increased[31] - The Group is well-positioned to capture business growth across various industries, including public transportation and retail, due to established relationships with key operators[36] Challenges and Risks - The Group faces challenges such as labor shortages and rising material prices, which may impact profitability, but is prepared to compete with advanced hygiene solutions[37] - The cost of services for FY2023 was approximately HK$384.7 million, representing about 83.2% of total revenue, compared to HK$397.3 million or 83.9% in FY2022[45] - General operating expenses increased by approximately 0.5% to about HK$51.4 million in FY2023, primarily due to higher provisions for long service payments[53] Corporate Governance - The Board consists of seven members, including four executive Directors and three independent non-executive Directors[101] - The Company has received annual confirmation of independence from all independent non-executive Directors, confirming their independence[104] - The Company has not appointed a chief executive officer; the role is performed collectively by all executive Directors[109] - The Board has established mechanisms to ensure independent views and input are available, including engaging professionals for independent opinions[117] - The Company targets to avoid a single gender Board and will review gender diversity based on its business model and specific needs[114] Committees and Meetings - The Board has established three committees: Audit Committee, Remuneration Committee, and Nomination Committee for oversight[98] - The Audit Committee reviewed the consolidated financial statements for the year ended March 31, 2023, and confirmed compliance with applicable accounting standards and legal requirements[138] - The Remuneration Committee comprises two independent non-executive Directors and one executive Director, focusing on remuneration policies for Directors and senior management[139] - The Nomination Committee held 1 meeting during the year ended March 31, 2023, to review the Board's structure, size, composition, and diversity, and to assess the independence of independent non-executive Directors[156] Risk Management - The Board is responsible for the risk management and internal control systems, ensuring an annual review of their effectiveness[189] - The Audit Committee reviews the effectiveness of the Group's risk management and internal control systems at least annually, covering all material controls[197] - The Group's risk management systems are designed to manage risks rather than eliminate them, providing reasonable assurance against material misstatement or loss[189] - The Company recognizes that effective risk management is essential for long-term sustainable growth[191] Employee and Training - The Group had 1,647 employees as of March 31, 2023, a decrease from 1,886 in the previous year, with total staff costs decreasing by approximately 3.4% to about HK$283.6 million[64] - All directors participated in continuous professional development, with training records summarizing their activities for the year ended March 31, 2023[161] - The Company provides training to directors to keep them updated on legal and regulatory changes relevant to their duties[161] Shareholder Engagement - The Company adopted its Shareholders' Communication Policy on March 13, 2017, to enhance engagement with shareholders and provide them with relevant information[170] - Shareholders are encouraged to participate in general meetings, with arrangements in place to facilitate their involvement[173] - The Board confirmed that the Shareholders Communication Policy was effectively implemented during the year ended March 31, 2023[174]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部 分內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 WINSON HOLDINGS HONG KONG LIMITED 永 順 控 股 香 港 有 限 公 司 （於開曼群島註冊成立之有限公司） 6812 （股份代號： ） 2023 3 31 截至 年 月 日止年度的年度業績公告 永順控股香港有限公司（「本公司」，連同其附屬公司，統稱「本集團」）董事（「董事」） 2023 3 31 2023 會（「董事會」）宣佈本集團截至 年 月 日止年度（「 財年」）的綜合業績。本 2023 2023 公告列載本公司 財年年報（「 年年報」）全文，並符合香港聯合交易所有限公 司（「聯交所」）證券上市規則（「上市規則」）有關年度業績初步公告附載資料的相關 2023 規定。 年年報的印刷版本將寄發予本公司股東（「股東」），及將可於聯交所網站 (www.hkexnews.hk) (www.winsongrouphk.com) 及可於本公司網站 查閱。 ...

Financial Performance - For the six months ended September 30, 2022, the revenue was HK$236,071,000, a decrease of 2.4% compared to HK$242,224,000 in the same period of 2021[18]. - Gross profit for the period was HK$41,081,000, representing an increase of 6.5% from HK$38,695,000 in the previous year[18]. - Profit before income tax increased to HK$18,607,000, up 43.7% from HK$12,951,000 in the same period last year[18]. - The profit for the period attributable to owners of the Company was HK$14,975,000, a significant increase of 43.3% compared to HK$10,416,000 in 2021[18]. - Basic and diluted earnings per share were both HK2.50 cents, compared to HK1.74 cents in the previous year, reflecting a growth of 43.7%[18]. - The Group's other income and gains amounted to HK$2,513,000, compared to HK$544,000 in the same period of 2021, indicating a substantial increase[18]. - General operating expenses for the period were HK$24,932,000, an increase from HK$26,230,000 in the previous year, showing improved cost management[18]. - The income tax expense for the period was HK$3,632,000, compared to HK$2,535,000 in the same period last year, reflecting a higher tax burden due to increased profits[18]. - The Group's financial costs were minimal at HK$55, consistent with the previous year's HK$58[18]. Assets and Liabilities - As of September 30, 2022, total assets amounted to HK$232,620,000, an increase from HK$226,449,000 as of March 31, 2022, reflecting a growth of approximately 1.2%[20]. - Cash and cash equivalents increased to HK$134,542,000 from HK$117,213,000, representing a growth of about 14.5%[27]. - Net current assets as of September 30, 2022, were HK$179,258,000, up from HK$170,980,000 as of March 31, 2022, showing an increase of about 4.3%[20]. - Total equity increased to HK$201,515,000 as of September 30, 2022, from HK$195,378,000 as of March 31, 2022, reflecting a growth of approximately 3.6%[20]. - Current liabilities decreased to HK$53,362,000 from HK$55,469,000, indicating a reduction of approximately 3.8%[20]. - The total assets of the Group as of September 30, 2022, amounted to HK$268,031,000, an increase from HK$264,233,000 as of March 31, 2022[53]. - The total liabilities of the Group as of September 30, 2022, were HK$66,516,000, a decrease from HK$68,855,000 as of March 31, 2022[53]. Cash Flow - Net cash generated from operating activities for the six months ended September 30, 2022, was HK$27,714,000, compared to HK$30,998,000 for the same period in 2021, indicating a decrease of approximately 7.4%[27]. - The company reported a net increase in cash and cash equivalents of HK$17,329,000 for the six months ended September 30, 2022, compared to a decrease of HK$10,399,000 in the same period of 2021[27]. Segment Performance - For the six months ended September 30, 2022, the Group's revenue from environmental hygiene and related services was HK$236,071,000, a decrease of 2.4% compared to HK$242,224,000 for the same period in 2021[57]. - The segment results for environmental hygiene and related services were HK$24,345,000 for the six months ended September 30, 2022, compared to HK$18,595,000 for the same period in 2021, reflecting an increase of 30%[45]. Shareholder Information - As of September 30, 2022, Ng Sing Mui holds a long position of 432,000,000 shares, representing approximately 72% interest in the company[183]. - Sze Tan Nei and Sze Wai Lun, both beneficiaries of a discretionary trust, also hold 432,000,000 shares each, equating to a 72% interest in the company[183]. - All 432,000,000 shares are beneficially owned by Sze's Holdings Limited, which is controlled by Rich Cheer Development Limited as the trustee of the Sze Family Trust[191]. - The Sze Family Trust was established by Ng Sing Mui on January 8, 2015, with beneficiaries including Sze Tan Nei and Sze Wai Lun[191]. - The company has a significant concentration of ownership, with the top three shareholders collectively holding 72% of the shares[183]. Dividends - The final dividend for the year ended March 31, 2022, was HK$8,838,000, translating to HK1.473 cents per ordinary share, a decrease from HK$35,400,000 or HK5.9 cents per share in 2021[72]. - The Group did not declare any interim dividend for the period[169]. Operational Efficiency - The Group has adopted new information technology and robotic applications to enhance efficiency and work safety[119]. - The demand for environmental hygiene services is expected to rise in the medium and long term due to urban development and increased public hygiene awareness[119]. Employee Information - The Group had 1,707 employees as of September 30, 2022, with total staff costs decreasing by approximately 3.8% to approximately HK$143.8 million[146]. - The total employee cost and related expenses amounted to approximately HK$143.8 million, a decrease of about 3.8% compared to HK$149.5 million for the six months ended September 30, 2021[151].

Financial Performance - Revenue for the year ended March 31, 2022, was HK$ 473.7 million, a decrease of 10.0% from HK$ 530.0 million in 2021[25]. - Profit for the year was HK$ 76.3 million, representing a 3.4% increase from HK$ 73.8 million in 2021[25]. - Total assets decreased to HK$ 264.2 million from HK$ 276.5 million, a decline of 4.2%[25]. - Total equity decreased to HK$ 195.4 million from HK$ 208.7 million, a decline of 6.4%[25]. - Gross profit margin improved to 16.1% from 14.1%[25]. - Net profit margin decreased to 4.7% from 13.9%[25]. - Return on total assets decreased significantly to 8.4% from 26.7%[25]. - Dividend payout ratio decreased to 40.0% from 48.0%[25]. - Interest coverage ratio decreased to 228.4 times from 376.9 times[25]. - Current ratio decreased to 4.1 times from 4.6 times[25]. - The Group recorded a revenue decline of HK$56.3 million or 10.6% to approximately HK$473.7 million for FY2022, compared to HK$530.0 million for the Previous Year[43]. - Revenue from environmental hygiene and related services amounted to approximately HK$473.7 million in FY2022, with nil revenue from airline catering support services due to ongoing COVID-19 impacts[55][57]. - The cost of services for FY2022 was approximately HK$397.3 million, accounting for about 83.9% of total revenue, compared to HK$455.2 million and 85.9% in FY2021[56][58]. - Gross profit increased slightly from approximately HK$74.8 million in FY2021 to approximately HK$76.3 million in FY2022, with the gross profit margin rising from approximately 14.1% to 16.1%[63][64]. - General operating expenses decreased by approximately 21.4% to approximately HK$51.1 million in FY2022, down from approximately HK$65.0 million in FY2021[72][74]. - The Group's profit attributable to owners for FY2022 was approximately HK$22.1 million, representing about 4.7% of total revenue, a decrease from HK$73.8 million and 13.9% in FY2021[73][74]. Business Development and Strategy - The Group maintained a relatively steady operating performance for FY2022 despite the prolonged COVID-19 pandemic, which impacted the business environment[27]. - The Group registered as a supplier to a public health service operator and secured a contract for waste management services for a key district hospital in April 2022[27]. - The Group aims to target public hygiene projects in the governmental and public service sectors, including recycling and eco-friendly hygiene services[27]. - A strategic cooperation framework agreement was established with Lask JV Facility Management Services Limited to explore business opportunities in the Guangdong-Hong Kong-Macao Greater Bay Area[29]. - Increased government spending on environmental cleanliness and waste management is expected, along with rising demand from the private sector[30]. - The long-term development plans announced by the government, such as the Northern Metropolis and Lantau Tomorrow, are anticipated to boost the supply of housing and commercial properties, providing expansion opportunities for the environmental hygiene market[30]. - The Group is well-positioned to tender for business opportunities related to various railway network extension projects due to established relationships with railway operators[30]. - The Group is prepared to explore technologically advanced hygiene and waste management services once travel restrictions are relaxed[30]. - The long-term outlook for the Group and the market remains positive[30]. - The Group aims to broaden its service offerings, including recycling of kitchen waste and environmental services, to diversify its customer base[44]. - A contract for waste management services for a key district hospital was awarded in April 2022, marking a significant milestone for the Group[44]. - The Group entered into a strategic cooperation framework agreement with Lask to explore business opportunities in the Greater Bay Area[48]. - Future market outlook remains positive, driven by urban and transportation development plans announced by the government[48]. Corporate Governance - The Board consists of seven members, including four executive directors and three independent non-executive directors[117]. - The company has maintained compliance with Listing Rules, having at least three independent non-executive directors, representing at least one-third of the Board[125]. - The Board held a total of six meetings during the year ended March 31, 2022, and passed resolutions through written resolutions[136]. - Each independent non-executive director has confirmed their independence, and the Board has assessed and concluded that all are independent[122]. - The term of appointment for independent non-executive directors has been renewed for two years starting from March 16, 2022[123]. - The company has not appointed a chief executive officer; the role is performed collectively by all executive directors[132]. - The Board Diversity Policy was adopted to enhance effectiveness and recognize the benefits of diversity in the boardroom[133]. - Notices for regular Board meetings are provided at least 14 days in advance to allow directors to prepare[134]. - The company aims to hold Board meetings at least four times a year, approximately quarterly[134]. - Minutes of Board meetings are recorded in detail, including decisions made and concerns raised by directors[136]. - The Company held 1 general meeting during the year ended 31 March 2022, specifically the 2021 AGM on 10 August 2021[138]. - The Audit Committee was established on 21 February 2017 and comprises three independent non-executive Directors, with Mr. Chung Koon Yan as the chairperson[141]. - The Audit Committee held 3 meetings during the year ended 31 March 2022[143]. - The Audit Committee reviewed the consolidated financial statements for the year ended 31 March 2022 and confirmed compliance with applicable accounting standards and adequate disclosures[145]. - The Remuneration Committee was established on 21 February 2017 and consists of two independent non-executive Directors and one executive Director, with Mr. Yuen Ching Bor Stephen as the chairperson[148]. - The Remuneration Committee held 2 meetings during the year ended 31 March 2022[148]. - The Audit Committee discussed the effectiveness of the Group's financial reporting process, risk management, and internal control systems[145]. - The Audit Committee made recommendations to the Board regarding the re-appointment of the Company's auditor[145]. - The Company ensured that all Directors had sufficient time to review relevant documents before meetings[137]. - The attendance records of Directors and committee members at meetings are documented in the annual report[138]. - The Remuneration Committee held 2 meetings during the year ended 31 March 2022 to review and discuss the remuneration policy for Directors and senior management[150]. - The Nomination Committee conducted 1 meeting during the year ended 31 March 2022, assessing the Board's structure, size, composition, and diversity[162]. - The Nomination Committee made recommendations to the Board regarding the re-election of retiring Directors at the 2021 AGM[160]. - The Remuneration Committee made recommendations to the Board on salary adjustment proposals for executive Directors and senior management[151]. - The Nomination Committee comprises 1 executive Director and 2 independent non-executive Directors, with Madam Ng Sing Mui as the chairperson[155]. - The criteria for assessing candidates for the Board include their ability to devote sufficient time and contribute to Board diversity[160]. - The Remuneration Committee's primary responsibility is to recommend remuneration policies and structures for Directors and senior management[155]. - The Nomination Committee ensures a formal and transparent procedure for the selection and appointment of Directors[157]. - The Remuneration Committee's recommendations are based on discussions regarding existing remuneration policies and structures[151]. - The Nomination Committee evaluates the independence of independent non-executive Directors as part of its assessment process[160]. - Attendance of Executive Directors at board meetings was 100% for the year ended March 31, 2022, with all attending 6 out of 6 meetings[169]. - Independent non-executive Directors also showed full attendance, with Mr. Yuen Ching Bor Stephen attending 6 out of 6 meetings[169]. - Continuous professional development was emphasized, with all Directors participating in training and providing records for the year ended March 31, 2022[180]. - Directors received training on corporate governance and legal updates relevant to their duties[183]. - The company ensures compliance with Listing Rules and enhances awareness of good corporate governance practices among Directors[180]. - The company provided briefings and training to develop Directors' knowledge and skills throughout the year[180]. - The attendance records for Directors were summarized and documented for transparency[180]. Utilization of Proceeds - The company has utilized net proceeds from the Share Offer of approximately HK$40.1 million for the purposes outlined in the prospectus dated February 28, 2017[98]. - As of March 31, 2022, the unutilised net proceeds amounted to approximately HK$1.1 million, intended for enhancing the IT system (approximately HK$0.9 million) and increasing market penetration through brand promotion (approximately HK$0.2 million)[104]. - The company faced delays in its utilization plans due to the prolonged COVID-19 pandemic, which affected commercial activities and advertising budgets[104]. - The expected completion date for the use of unutilised net proceeds is by March 31, 2023[104]. - The total planned applications of the proceeds include strengthening financial resources (45.0%), enhancing IT systems (19.0%), and increasing market penetration (7.0%)[104]. - Actual usage of the proceeds as of March 31, 2022, was HK$40.1 million, with HK$39.0 million utilized[104]. - The company has placed the unutilised net proceeds as interest-bearing deposits with a licensed bank in Hong Kong[104].

Financial Performance - Revenue for the six months ended September 30, 2021, was HK$242,224,000, a decrease of 8.2% from HK$263,835,000 in the same period of 2020[19]. - Gross profit for the period was HK$38,695,000, down from HK$40,659,000, reflecting a gross profit margin of 15.9%[19]. - Profit for the period attributable to owners of the Company was HK$10,416,000, significantly lower than HK$40,347,000 in the prior year, representing a decline of 74.2%[19]. - Basic and diluted earnings per share were HK1.74 cents, a decrease of 74.1% compared to HK6.72 cents in the same period last year[19]. - Profit before income tax was HK$12,951,000, down from HK$43,402,000, marking a decline of 70.1%[19]. - The Company reported other income and gains of HK$544,000, compared to HK$33,293,000 in the previous year, a decrease of 98.4%[19]. - Future outlook remains cautious due to the significant decline in profit and revenue, necessitating a review of operational strategies[15]. - The group recorded revenue of approximately HK$242.2 million for the Period, representing a decrease of approximately HK$21.6 million or 8.2% from the six months ended 30 September 2020[168]. - Profit for the period decreased by approximately HK$29.9 million or approximately 74.2% to approximately HK$10.4 million[188]. - The net profit margin for the period was approximately 4.3%, down from approximately 15.3% for the previous period[188]. Assets and Liabilities - As of September 30, 2021, total assets were not specified, but the financial position reflects a need for strategic adjustments to improve profitability[23]. - Total assets decreased from HK$ 208,682,000 to HK$ 183,698,000, representing a decline of approximately 12%[24]. - The total assets of the group as of September 30, 2021, were HK$252,479,000, down from HK$276,464,000 as of March 31, 2021, reflecting a reduction of about 8.7%[55]. - The total liabilities increased slightly to HK$68,781,000 as of September 30, 2021, compared to HK$67,782,000 as of March 31, 2021, marking an increase of approximately 1.5%[55]. - Total equity decreased from HK$ 208,682,000 to HK$ 183,698,000, reflecting a decline of approximately 12%[27]. - Net current assets decreased from HK$ 158,741,000 to HK$ 142,921,000, a decrease of about 10%[24]. - The group had cash and cash equivalents of approximately HK$111.3 million as of September 30, 2021, compared to approximately HK$121.7 million as of March 31, 2021[191]. Operating Expenses - General operating expenses decreased to HK$26,230,000 from HK$30,427,000, indicating a reduction of 13.3%[19]. - Cost of inventories recognized as expenses decreased to HK$6,136,000 from HK$7,781,000, a reduction of about 21.1%[6]. - Depreciation expenses increased to HK$3,373,000 from HK$2,646,000, reflecting an increase of approximately 27.5%[6]. - The total staff costs and related expenses for the period were approximately HK$149.5 million, representing a decrease of approximately 0.8% compared to approximately HK$150.7 million for the six months ended September 30, 2020[194]. Cash Flow - Net cash generated from operating activities for the six months ended September 30, 2021, was HK$30,998,000, down from HK$55,483,000 in the same period of 2020, a decrease of about 44%[30]. - Cash and cash equivalents at the end of the period were HK$111,274,000, compared to HK$121,673,000 at the beginning, indicating a decrease of approximately 8%[30]. Business Segments - For the six months ended September 30, 2021, the total revenue from environmental hygiene and related services was HK$242,224,000, a decrease from HK$263,835,000 in the same period of 2020, representing a decline of approximately 8.5%[61]. - The segment results for environmental hygiene and related services showed a profit of HK$18,595,000 for the six months ended September 30, 2021, compared to HK$53,082,000 for the same period in 2020, indicating a significant decrease of approximately 65%[47]. - The group did not report any revenue from airline catering support services for the six months ended September 30, 2021, indicating a potential area for future growth or recovery[47]. - The Group's airline catering support services business has been temporarily suspended since March 2020, resulting in no revenue from this segment during the Period[167]. Strategic Outlook - Management expects the demand for environmental hygiene and related services to continue to rise in the medium and long term due to urban development and increased public hygiene awareness[172]. - The Group is actively enriching its service offerings, including recycling of kitchen waste and other environmental services, to broaden its customer base[172]. - Management is exploring horizontal business development opportunities, including geographic expansion and property-related services in the Greater Bay Area[173]. - The Group is keen to introduce new service offerings that synergize with its current environmental hygiene services, such as pest control and property management[177]. Employee and Dividend Information - The group had 1,867 employees as of September 30, 2021, down from 2,094 employees as of September 30, 2020[194]. - The final dividend paid was HK5.9 cents per ordinary share, totaling HK$35,400,000, compared to nil in 2020[77]. - The Group resolved not to declare any interim dividend for the six months ended 30 September 2021, consistent with the previous year[78].

Financial Performance - Revenue for FY2021 was HK$530.0 million, a decrease of 7.0% from HK$569.6 million in FY2020[20] - Gross profit decreased by 10.6% to HK$74.8 million, down from HK$83.7 million[20] - Profit for the year significantly increased by 256.5% to HK$73.8 million, compared to HK$20.7 million in the previous year[20] - For FY2021, total revenue was approximately HK$530.0 million, representing a decrease of approximately 7.0% from FY2020's HK$569.6 million[48] - Revenue from environmental hygiene and related services amounted to approximately HK$530.0 million in FY2021, a slight decrease from approximately HK$536.5 million in FY2020[51] - The gross profit decreased from approximately HK$83.7 million in FY2020 to approximately HK$74.8 million in FY2021, with the overall gross profit margin declining from approximately 14.7% to 14.1%[58] - The gross profit of environmental hygiene and related services decreased by approximately 7.0% from approximately HK$80.4 million in FY2020 to HK$74.8 million in FY2021[59] - The Group's profit attributable to owners for FY2021 was approximately HK$73.8 million, representing about 13.9% of total revenue, compared to HK$20.7 million or 3.6% in FY2020, largely due to government subsidies of approximately HK$65.5 million[66] Assets and Equity - Total assets rose by 33.1% to HK$276.5 million, up from HK$207.7 million[20] - Total equity increased by 54.7% to HK$208.7 million, compared to HK$134.9 million in FY2020[20] - As of March 31, 2021, the Group's total current assets were approximately HK$238.0 million, up from HK$173.0 million in the previous year, while current liabilities decreased to approximately HK$52.1 million from HK$59.0 million, resulting in a current ratio of approximately 4.6 times[68] - The Group's total assets as of March 31, 2021, were approximately HK$276.5 million, financed by total liabilities of approximately HK$67.8 million and total equity of approximately HK$208.7 million[69] Contracts and Business Development - The Group secured 15 new contracts and renewed 85 contracts with estimated contract values of HK$27.6 million and HK$773.6 million respectively, achieving a tender success rate of 20.4% and a contract renewal rate of 71.4%[38] - The total estimated value of contracts on hand reached approximately HK$1,408.7 million as of 31 March 2021, with approximately HK$655.5 million being outstanding contract value[38] - The Group is actively exploring horizontal business development opportunities, including potential expansion in geographic coverage and property-related synergized services[29] - The Group is focusing on registering as a supplier to a public health service operator to enhance service quality and create new revenue streams[25] - The Group aims to register as a supplier under public health service operators, which will open new revenue streams and potential customer categories in medical support services[27] Market Outlook - The environmental hygiene services market is expected to grow due to rising hygiene awareness and increased government spending on waste management[24] - The Group is well positioned to cater to the rising demands for environmental and personal hygiene services due to increasing public hygiene awareness[38] - The national government's Outline Development Plan for the Greater Bay Area is expected to bring substantial growth in commercial activities, particularly for technologically advanced hygiene and waste management services[29] - The overall business outlook remains positive in the medium to long term despite current unfavorable market conditions[47] Operating Expenses and Costs - General operating expenses increased by approximately HK$7.2 million, representing a 12.5% increase to approximately HK$65.0 million for FY2021, mainly due to a one-off anti-epidemic allowance of approximately HK$7.5 million paid to staff[61] - The cost of services for FY2021 was approximately HK$455.2 million, representing about 85.9% of the Group's revenue, compared to HK$485.9 million or 85.3% in FY2020[52] - The total staff costs and related expenses for FY2021 were approximately HK$321.3 million, representing a decrease of approximately 1.6% compared to approximately HK$326.6 million in FY2020[77] Governance and Board Structure - The Company has complied with the Corporate Governance Code during the year ended March 31, 2021, except for a deviation noted[111] - The company has adopted the GEM Listing Rules and confirmed compliance with trading standards by all directors for the year ended March 31, 2021[115] - The Board consists of nine members, including four executive directors and five independent non-executive directors, with no changes in composition during the reporting period[120] - The Board has established three committees: Audit Committee, Remuneration Committee, and Nomination Committee, to oversee specific aspects of the company's affairs[119] - All independent non-executive directors have confirmed their independence, and the Board concluded that they are independent, with three possessing appropriate professional qualifications[128] Risk Management - The Board is responsible for the risk management and internal control systems, ensuring an annual review of their effectiveness[200] - The risk management and internal control systems are designed to manage risks rather than eliminate them, providing reasonable assurance against material misstatement or loss[200] - The effectiveness of the Group's risk management systems is reviewed at least annually[200] - The company acknowledges the importance of ongoing oversight of risk management systems[200] Capital Expenditure and Financial Position - Capital expenditure for FY2021 amounted to approximately HK$8.8 million, a significant increase from HK$1.1 million in FY2020, primarily financed by funds generated from operating activities[67] - The gearing ratio was 0.03 times as of March 31, 2021, down from 0.06 times in the previous year, indicating a stable capital structure[75] - The Group did not have any material contingent liabilities as of March 31, 2021, indicating a strong financial position[85] Shareholder Communication - Shareholders can submit inquiries to the Board via written communication or email through the company's website[197] - The company has specific procedures for shareholders to propose new resolutions at special meetings[196] - The main business address for shareholder communications is located in Tsuen Wan, Hong Kong[197]