Financial Performance - For the six months ended February 28, 2021, ECI Technology Holdings Limited reported revenue of approximately HKD 70,532,000, an increase of 16.5% compared to HKD 60,612,000 for the same period in 2020[11]. - The gross profit for the same period was approximately HKD 13,825,000, a decrease of 14.4% from HKD 16,175,000 in 2020[11]. - The net profit after tax for the period was approximately HKD 6,447,000, significantly up from HKD 2,128,000 in 2020, primarily due to government subsidies received under the "Employment Support Scheme"[11]. - Operating profit for the six months ended February 28, 2021, was HKD 6,656,000, significantly up from HKD 2,881,000 in the same period of 2020, marking an increase of 131.5%[18]. - The company reported a net profit attributable to owners of HKD 6,447,000 for the six months ended February 28, 2021, compared to HKD 2,128,000 in the same period of 2020, reflecting a 203.5% increase[18]. - The group reported a profit before tax of HKD 6,521,000 for the six months ended February 28, 2021, compared to HKD 2,760,000 for the same period in 2020, representing a significant increase[39]. - The company reported a profit of 935,000 HKD for the three months ended February 28, 2021, compared to 1,861,000 HKD for the same period in 2020, representing a decrease of approximately 50.2%[52]. Revenue Breakdown - Maintenance service revenue for the six months ended February 28, 2021, was HKD 37,131,000, up 39.9% from HKD 26,545,000 in the previous year[35]. - Installation service revenue decreased to HKD 31,055,000 for the six months ended February 28, 2021, from HKD 31,169,000 in the same period of 2020, reflecting a slight decline of 0.4%[35]. - Security guard service revenue for the six months ended February 28, 2021, was HKD 2,346,000, down 19% from HKD 2,898,000 in the previous year[35]. - Total external sales for the installation and maintenance services segment reached HKD 68,186,000 for the six months ended February 28, 2021, compared to HKD 57,714,000 in the same period of 2020, marking a growth of 18.5%[41]. Assets and Liabilities - Trade receivables increased to HKD 31,934,000 as of February 28, 2021, up from HKD 22,872,000 in the previous year, indicating a 39.7% growth[19]. - Total assets as of February 28, 2021, were HKD 70,676,000, compared to HKD 62,538,000 in the previous year, representing a 13.5% increase[19]. - The total equity attributable to owners increased to HKD 62,228,000 as of February 28, 2021, up from HKD 55,781,000 in the previous year, reflecting a 11.5% increase[22]. - The company reported a total lease liability of 4,476,000 HKD as of February 28, 2021, compared to 3,408,000 HKD as of August 31, 2020, marking an increase of approximately 31.3%[60]. - The total trade payables as of February 28, 2021, were HKD 4,880,000, an increase of 42.5% from HKD 3,431,000 as of August 31, 2020[80]. - The company's bank borrowings as of February 28, 2021, were HKD 3,506,000, down from HKD 5,375,000 as of August 31, 2020, reflecting a decrease of 34.7%[82]. Cash Flow - The company reported a net cash inflow from operating activities of HKD 3,221,000 for the six months ended February 28, 2021, compared to a cash outflow of HKD 2,673,000 in the same period of 2020[24]. - Cash and cash equivalents at the end of the period were HKD 23,018,000, slightly down from HKD 23,502,000 at the end of the previous period[24]. - The cash outflow for lease payments during the six months ended February 28, 2021, was approximately HKD 2,088,000, compared to HKD 1,371,000 for the same period in 2020, representing a 52.2% increase[64]. Dividends and Shareholder Information - The board of directors does not recommend the payment of an interim dividend for the period[12]. - The company did not declare or recommend any dividends for the six months ended February 28, 2021, and there have been no dividends proposed since the reporting date[54]. - The total number of issued shares as of February 28, 2021, is 1,600,000,000[129]. - Dr. Wu Tai-wing and Ms. Wang Zhiwen each hold 880,000,000 shares, representing approximately 55% of the total issued shares[123]. - ECI Asia Investment Limited, a related corporation, holds 880,000,000 shares, also representing approximately 55% of the total issued shares[127]. - Mr. Yang Shuo holds 320,000,000 shares, representing approximately 20% of the total issued shares[127]. Corporate Governance - The company has adopted the corporate governance code as per GEM Listing Rules Appendix 15, with the exception of deviation from rule A.2.1 regarding the separation of roles of Chairman and CEO[135]. - The Audit Committee, established on February 10, 2017, consists of four independent non-executive directors and is responsible for reviewing financial statements and overseeing internal controls[140]. - The company has confirmed compliance with the required trading standards for directors as per GEM Listing Rules from the period ending February 28, 2021, to the report date[138]. Future Plans and Market Strategy - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[25]. - The company aims to enhance its market share and reputation by expanding its maintenance service division in response to the stagnation in demand for installation and replacement of security systems[96]. - The company plans to invest continuously in developing its internal capabilities and collaborating with business partners to provide integrated one-stop solutions and security services[99].

Financial Performance - For the three months ended November 30, 2020, ECI Technology Holdings Limited reported revenue of approximately HKD 31,642,000, an increase of 24.5% compared to HKD 25,490,000 in the same period of 2019[8]. - The gross profit for the same period was approximately HKD 6,611,000, a slight decrease of 5.1% from HKD 6,967,000 in 2019[8]. - The net profit after tax for the period was approximately HKD 5,512,000, significantly up from HKD 267,000 in 2019, primarily due to government subsidies received under the "Employment Support Scheme"[8]. - The operating profit for the three months was HKD 5,589,000, compared to HKD 444,000 in the previous year, indicating a substantial improvement in operational efficiency[10]. - Basic and diluted earnings per share for the period were HKD 0.34, compared to HKD 0.02 in the same period of 2019, reflecting a significant increase in profitability[10]. - Total comprehensive income attributable to owners of the company for the period was HKD 5,512,000, compared to HKD 267,000 in the previous year[10]. - Other income for the period increased significantly to HKD 5,346,000 from HKD 94,000 in the previous year, indicating enhanced revenue streams[10]. - Revenue increased by approximately 24.13% from HKD 25,490,000 for the three months ended November 30, 2019, to HKD 31,642,000 for the three months ended November 30, 2020, primarily due to increased maintenance service income[32]. - Sales costs rose by approximately 35.13% from HKD 18,523,000 to HKD 25,031,000 during the same period, consistent with revenue growth[33]. - Gross profit decreased by approximately 5.11% from HKD 6,967,000 to HKD 6,611,000[33]. Expenses and Costs - Administrative expenses for the period were approximately HKD 6,368,000, a slight decrease from HKD 6,505,000 in 2019[10]. - Total employee costs for the period were HKD 19,148,000, an increase from HKD 14,090,000 in the previous year[23]. - Administrative expenses decreased by approximately 2.11% from HKD 6,505,000 to HKD 6,368,000, mainly due to reduced short-term rental expenses[34]. Dividends and Shareholder Information - The company did not recommend the payment of an interim dividend for the period[9]. - The group did not recommend an interim dividend for the three months ended November 30, 2020[24]. - The average number of ordinary shares outstanding was 1,600,000, with no dilutive potential ordinary shares issued during the period[26]. - As of November 30, 2020, Dr. Ng Tai Wing and Ms. Wong Chi Man each held 880,000,000 shares, representing approximately 55% of the total issued shares[45]. - ECI Asia Investment Limited, a related corporation, holds 880,000,000 shares, also representing approximately 55% of the total issued shares[48]. - Mr. Yang Shuo held 320,000,000 shares, representing approximately 20% of the total issued shares as of November 30, 2020[48]. - The company has not disclosed any outstanding options, warrants, or convertible securities as of the report date[44]. Government Support and Subsidies - The group received government subsidies of approximately HKD 5,291,000 related to COVID-19 support measures[21]. - Profit attributable to owners of the company increased to approximately HKD 5,512,000 from HKD 267,000, primarily due to government subsidies received under the "Employment Support Scheme"[35]. Business Operations and Strategy - The company continues to focus on its core business of providing installation and maintenance services, as well as security services, while exploring potential market expansions[13]. - Installation services revenue increased to HKD 12,509,000 from HKD 10,636,000, representing a growth of 17.5%[19]. - Maintenance services revenue rose to HKD 18,087,000, up 33.5% from HKD 13,510,000[19]. - The company is focusing on bidding for ELV maintenance service contracts to strengthen customer relationships and increase market share[30]. - The security guard business faces intensified competition due to rising unemployment and property management companies preferring to hire security personnel directly[31]. - The company plans to invest in developing internal capabilities and collaborate with business partners to provide integrated solutions and security services[31]. - The company has been awarded three major maintenance contracts related to the Hong Kong-Zhuhai-Macao Bridge, which are currently in effect[30]. - The company is optimizing its parking systems to incorporate diverse payment methods, enhancing user convenience[30]. Corporate Governance - The company has adopted the corporate governance code as per GEM Listing Rules Appendix 15, ensuring compliance with governance standards[53]. - The audit committee, established on February 17, 2017, consists of four independent non-executive directors, with Mr. Xu Junhao as the chairman[56]. - The company confirmed compliance with the trading standards for directors as required by GEM Listing Rules from November 30, 2020, to the report date[54]. - The controlling shareholder has adhered to the non-competition agreement since the listing date, ensuring no conflicts of interest with the company's business[51]. - The company has not entered into any arrangements for directors or senior management to acquire securities of the company or its affiliates during the reporting period[50]. - The board consists of seven members, including two executive directors and four independent non-executive directors[57]. - The company has maintained good internal control procedures to ensure effective accountability[53]. - The audit committee reviewed the unaudited consolidated financial statements for the three months ended November 30, 2020, prior to board approval on January 11, 2021[56]. - The company has not reported any interests or potential competition from directors or controlling shareholders during the reporting period[52]. Capital Commitments - The capital commitment for purchasing new software was HKD 220,000 as of November 30, 2020, up from HKD 155,000 as of August 31, 2020[27]. - The net proceeds from the company's listing on March 10, 2017, amounted to approximately HKD 31,500,000 after deducting all related listing expenses and commissions[41]. - As of November 30, 2020, the company had approximately HKD 3,500,000 of unutilized listing proceeds remaining[41]. - The company plans to utilize the unutilized listing proceeds by August 31, 2022, to meet the minimum operating capital and funding requirements for the "Sewage Treatment and Filtration Plant Mechanical and Electrical Installation" project[42]. - The company has allocated HKD 5,000,000 for expanding its existing security guard business segment[41].

Financial Performance - For the fiscal year ending August 31, 2020, ECI Technology Holdings Limited reported revenue of approximately HKD 114,442,000, an increase of about 19.81% compared to HKD 95,522,000 in the previous year[10]. - The group's gross profit for the same period was approximately HKD 27,323,000, slightly down from HKD 27,443,000 in the previous year[10]. - The net profit for the fiscal year was approximately HKD 3,655,000, a significant increase from HKD 877,000 in the previous year, primarily due to government subsidies received under the "Employment Support" scheme[10]. - The company's revenue increased by approximately 19.81% from HKD 95,522,000 for the year ended August 31, 2019, to HKD 114,442,000 for the year ended August 31, 2020, primarily due to increased maintenance services for the Hong Kong-Zhuhai-Macao Bridge[22]. - The cost of sales rose by approximately 27.97% from HKD 68,079,000 for the year ended August 31, 2019, to HKD 87,119,000 for the year ended August 31, 2020[23]. - The company's gross profit decreased by approximately 0.44% from HKD 27,443,000 for the year ended August 31, 2019, to HKD 27,323,000 for the year ended August 31, 2020, mainly due to lower profit margins from maintenance services compared to installation services[23]. - Administrative expenses increased by approximately 6.00% from HKD 26,130,000 for the year ended August 31, 2019, to HKD 27,698,000 for the year ended August 31, 2020, primarily due to an increase in staff as the administrative department expanded[24]. - The company recorded a profit of approximately HKD 3,655,000 for the year ended August 31, 2020, compared to HKD 877,000 for the year ended August 31, 2019, largely due to subsidies received under the government's "Employment Support Scheme"[25]. - The security guard service revenue increased from approximately HKD 1,426,000 in 2019 to approximately HKD 5,204,000 in 2020, although growth has slowed due to increased competition following the COVID-19 pandemic[21]. - As of August 31, 2020, the group had cash and bank balances of approximately HKD 23,502,000, a decrease of about HKD 1,864,000 compared to HKD 25,366,000 in 2019[29]. - The group had interest-bearing bank borrowings of approximately HKD 5,375,000 as of August 31, 2020, down by about HKD 2,081,000 from HKD 7,456,000 in 2019[29]. - The debt-to-equity ratio as of August 31, 2020, was 0.16, a decrease from 0.19 in 2019[38]. - The group reported a charitable donation of HKD 475,774 for the year ending August 31, 2020, compared to HKD 380,650 in 2019, representing an increase of approximately 25%[91]. Business Operations and Strategy - The company successfully secured a maintenance project for the automated vehicle clearance support system at the Hong Kong-Zhuhai-Macao Bridge, which commenced operations in April 2020[13]. - ECI Technology Holdings Limited aims to enhance its competitive advantage in the security industry by providing integrated security services and solutions to both public and private sectors[14]. - The company is closely collaborating with its associate, Spark Technology Group Limited, on various projects, including those at Kowloon Hospital, to offer the latest technology in the Internet of Things (IoT) sector[13]. - The overall business environment remains challenging due to the COVID-19 pandemic, but the company's security installation and maintenance services have not been significantly impacted[14]. - The company plans to focus on bidding for ELV maintenance service contracts to strengthen customer relationships and increase market share[19]. - The company aims to integrate the latest technologies with various smart devices to provide optimal solutions for clients, particularly in parking systems[19]. - The company is actively seeking opportunities to expand its maintenance service division to enhance its reputation in the industry[19]. - The company is applying for training licenses to develop its training center, which has been delayed due to the pandemic[21]. - The management believes that the company's solid foundation and stable performance will help it navigate future challenges[14]. - The company is committed to sustainability, with plans to invest $I million in eco-friendly technologies and practices over the next three years[71]. Corporate Governance - The company has not appointed any new directors in the past three years, indicating stability in its leadership structure[55][58][61][63][67]. - The independent non-executive directors, including Mr. Xu and Mr. Song, provide critical independent opinions and oversight, enhancing corporate governance[62][66]. - The company has maintained a consistent approach to corporate governance with a well-structured board comprising executive and independent directors[62][66]. - The management team has extensive experience in the technology and engineering sectors, with over 15 years in the IT industry for Dr. Wu and various roles in safety and project management for Mr. Lo[56][57]. - The board of directors consists of seven members responsible for corporate strategy, performance reviews, and risk management[145]. - The company has adopted the corporate governance code as per GEM listing rules, with a noted deviation regarding the roles of the chairman and CEO being held by the same individual[141]. - The company has received annual confirmations of independence from its directors, ensuring compliance with independence standards[107]. - The company has confirmed compliance with the non-competition agreement signed by its controlling shareholder, ensuring no competition with the group's business as of August 31, 2020[125]. - The company has adopted a share option scheme to incentivize directors and eligible employees[102]. - The board diversity policy aims to enhance performance quality and considers factors such as gender, age, cultural background, and professional experience[166]. Risk Management - The group identified key risks including strategic risks from market saturation and operational risks from subcontractor performance issues[48]. - The company employs a "three lines of defense" governance structure for operational management and risk monitoring, with independent internal audits conducted by a third party[180]. - The board believes that the internal control and risk management systems are effective and adequate based on the findings and recommendations from the independent review[180]. - The company established an internal control mechanism to handle and disclose insider information, including information flow, reporting processes, confidentiality arrangements, and employee training[181]. - The company implemented an enterprise risk management framework in 2020, following the COSO framework to effectively manage various risks faced by the group[182]. - The group faced major risks and uncertainties as discussed in the management discussion and analysis section of the annual report[89]. Future Outlook - The company provided guidance for the next quarter, expecting revenue to be between $A million and $B million, indicating a growth rate of C%[71]. - New product launches are anticipated to drive future growth, with an investment of $D million allocated for research and development in innovative technologies[71]. - The company is expanding its market presence, targeting new regions with a projected increase in market share of E% over the next year[71]. - Recent acquisitions are expected to enhance the company's service offerings, contributing an estimated $F million in additional revenue[71]. - The management team emphasized a focus on strategic partnerships to leverage synergies and improve operational efficiency[71]. - The company plans to implement new marketing strategies aimed at increasing customer engagement and retention rates by G%[71]. - Cost management initiatives are projected to reduce operational expenses by H%, improving overall profitability[71]. Shareholder Relations - The company encourages shareholder communication and participation in annual general meetings, providing at least 20 business days' notice[191]. - The company has approximately HKD 9,189,000 available for distribution to shareholders as of August 31, 2020[98]. - The company has adopted a dividend policy that considers various factors before declaring dividends, with no guarantee of specific amounts being distributed[190]. - The group did not recommend a final dividend for the year ending August 31, 2020, consistent with the previous year where no dividend was declared[90].

Financial Performance - The revenue for the nine months ended May 31, 2020, was approximately HKD 87,180,000, an increase of 18.3% compared to HKD 73,666,000 for the same period in 2019[8]. - The gross profit for the same period was approximately HKD 21,965,000, a decrease of 6.1% from HKD 23,636,000 in 2019[8]. - The total comprehensive income for the nine months was approximately HKD 1,432,000, down 63.0% from HKD 3,872,000 in 2019[8]. - The operating loss for the three months ended May 31, 2020, was HKD 730,000, compared to an operating profit of HKD 513,000 in the same period of 2019[11]. - The net profit attributable to the owners of the company for the nine months was HKD 1,432,000, resulting in a basic and diluted loss per share of HKD 0.044 for the three months ended May 31, 2020[11]. - The total segment revenue for installation and maintenance services was HKD 82,971,000 for the nine months ended May 31, 2020, up from HKD 73,381,000 in 2019, reflecting a growth of 13.0%[45]. - The group reported a loss of HKD 696,000 for the three months ended May 31, 2020, compared to a profit of HKD 288,000 in the same period of 2019[49]. - The group recorded a profit attributable to owners of the company of approximately HKD 1,432,000, a decrease from about HKD 3,872,000 in the previous year, primarily due to reduced gross profit[66]. Expenses and Costs - Administrative expenses increased to HKD 20,184,000 for the nine months, compared to HKD 18,819,000 in 2019, reflecting a rise of 7.2%[11]. - The total employee costs amounted to HKD 44,759,000 for the nine months ended May 31, 2020, compared to HKD 36,413,000 in 2019, indicating a rise of 22.9%[48]. - The cost of sales rose by about 30.35% from approximately HKD 50,030,000 to about HKD 62,215,000, consistent with the revenue increase[63]. - Gross profit decreased by approximately 7.07% from about HKD 23,636,000 to approximately HKD 21,965,000 during the same period[63]. - Administrative expenses increased by approximately 7.25% from about HKD 18,819,000 to approximately HKD 20,184,000, mainly due to general salary increases for administrative staff[64]. Dividends and Shareholder Information - The company did not recommend the payment of an interim dividend for the period[9]. - The group did not declare or recommend any dividends for the nine months ended May 31, 2020[51]. - The company’s major shareholder, Dr. Ng Tai Wing, holds 55% of the shares through ECI Asia, with a total of 880,000,000 shares[82]. - The company has a total of 1,600,000,000 issued shares as of May 31, 2020, which is the basis for calculating the approximate shareholding percentages[83]. - ECI Asia Investment Limited holds 880,000,000 shares, representing 55% of the total issued shares[86]. - Mr. Yang Shuo owns 320,000,000 shares, accounting for 20% of the total issued shares[86]. - As of May 31, 2020, the total number of issued shares is 1,600,000,000[87]. - The company has not entered into any arrangements for directors or senior management to acquire shares or securities of the company[89]. Corporate Structure and Governance - The company was incorporated in the Cayman Islands on October 3, 2016, and its shares were listed on the GEM of the Hong Kong Stock Exchange on March 10, 2017[14]. - The company’s ultimate holding company is ECI Asia Investment Limited, registered in the British Virgin Islands[14]. - The audit committee was established on February 17, 2017, in accordance with GEM listing rules[98]. - The audit committee consists of four independent non-executive directors, with Mr. Xu Junhao serving as the chairman[100]. - The board comprises eight directors, including three executive directors and four independent non-executive directors[101]. Accounting Standards and Financial Reporting - The company adopted several new and revised Hong Kong Financial Reporting Standards, including HKFRS 16 on leases, which significantly changed the accounting treatment for leases[20]. - The financial report should be read in conjunction with the annual financial statements for the year ended August 31, 2019[17]. - The unaudited financial statements have not been reviewed or audited by the company's auditor but have been reviewed by the audit committee[18]. - The financial statements include a consolidated statement of profit or loss and other comprehensive income, a consolidated statement of changes in equity, and selected explanatory notes[18]. - The unaudited condensed consolidated financial statements for the nine months ended May 31, 2020, were approved by the board on July 9, 2020[100]. Business Operations and Future Prospects - The company primarily engages in investment holding, with its main operating subsidiaries providing installation, maintenance, and security services[14]. - The group has expanded its business scope to include security guard services, which is expected to generate additional cash flow and create synergies in security services[58]. - The group plans to establish a training center for security personnel and provide a one-stop security service solution, addressing the market demand for comprehensive monitoring systems[60]. - The group is optimistic about future prospects, citing ongoing government contracts for installation and maintenance projects as a stable revenue source amid uncertainties from the COVID-19 pandemic[71]. - The group aims to continuously invest in developing internal capabilities and collaborate with business partners to offer integrated ELV solutions and security services, generating long-term sustainable shareholder value growth[60]. Investments and Financial Assets - As of May 31, 2020, the company held 2,250,000 shares of Pailan Environmental Consulting Limited, representing 0.19% ownership, with a fair value loss of HKD 90,000[74]. - The net proceeds from the listing on March 10, 2017, amounted to approximately HKD 31.5 million, with HKD 25.7 million utilized as of May 31, 2020[77]. - The company plans to allocate the remaining unutilized listing proceeds of approximately HKD 5.8 million for obtaining more licenses and qualifications[79]. - The security guard division has utilized HKD 4.5 million of the allocated HKD 5 million for expansion, leaving HKD 0.5 million unutilized[77]. - The company is working to meet the minimum operating capital requirements for the "Sewage Treatment and Filtration Plant Electromechanical Installation" project[79].

Financial Performance - For the six months ended February 29, 2020, ECI Technology Holdings Limited reported revenue of approximately HKD 60,612,000, an increase of 22.5% compared to HKD 49,530,000 for the same period in 2019[8]. - The gross profit for the same period was approximately HKD 16,175,000, a decrease of 5.5% from HKD 17,113,000 in 2019[8]. - The net profit after tax for the period was approximately HKD 2,128,000, down 40.6% from HKD 3,584,000 in the previous year, primarily due to a decrease in gross profit[8]. - Revenue for the six months ended February 29, 2020, was HKD 60,612,000, representing a 22.4% increase from HKD 49,530,000 in the same period of 2019[15]. - Gross profit for the six months ended February 29, 2020, was HKD 16,175,000, a decrease of 5.5% compared to HKD 17,113,000 in the previous year[15]. - Operating profit for the six months ended February 29, 2020, was HKD 2,881,000, down 37.7% from HKD 4,628,000 in the same period of 2019[15]. - Net profit attributable to owners for the six months ended February 29, 2020, was HKD 2,128,000, a decrease of 40.7% from HKD 3,584,000 in the previous year[15]. - Basic and diluted earnings per share for the six months ended February 29, 2020, were HKD 0.133, down from HKD 0.224 in the same period of 2019[15]. - The company reported a pre-tax profit of HKD 2,760,000 for the six months ended February 29, 2020, compared to HKD 4,494,000 for the same period in 2019, indicating a decline of approximately 38.6%[62]. - The group recorded a profit attributable to owners of approximately HKD 2,128,000, down from HKD 3,584,000 in the previous year, mainly due to reduced gross profit[112]. Revenue Breakdown - Revenue from maintenance services for the six months ended February 29, 2020, was HKD 26,545 thousand, representing a 19.5% increase from HKD 22,153 thousand for the same period in 2019[56]. - Revenue from installation services for the six months ended February 29, 2020, was HKD 31,169 thousand, up 14.5% from HKD 27,347 thousand in the previous year[56]. - Security guard service revenue increased significantly to HKD 2,898 thousand for the six months ended February 29, 2020, compared to HKD 30 thousand in the same period of 2019[56]. - Total revenue for the six months ended February 29, 2020, was HKD 60,612 thousand, a 22.4% increase from HKD 49,530 thousand in the prior year[56]. - The group’s financial performance is evaluated based on the segments of installation and maintenance services, as well as security guard services[58]. - Segment profit for installation and maintenance services was HKD 6,146,000, while security services reported a loss of HKD 957,000, leading to a total segment profit of HKD 5,189,000[60]. Assets and Liabilities - Trade receivables increased to HKD 30,790,000 as of February 29, 2020, compared to HKD 19,207,000 as of August 31, 2019, reflecting a 60.1% increase[16]. - Total assets as of February 29, 2020, were HKD 68,288,000, an increase from HKD 58,746,000 as of August 31, 2019[16]. - Cash and cash equivalents decreased to HKD 20,023,000 as of February 29, 2020, from HKD 25,366,000 as of August 31, 2019[21]. - The company’s lease liabilities as of February 29, 2020, totaled HKD 2,778,000, down from HKD 3,540,000 as of September 1, 2019[72]. - The company’s non-current lease liabilities were HKD 1,505,000 as of February 29, 2020, compared to HKD 2,129,000 as of September 1, 2019[72]. - As of February 29, 2020, the company's trade payables amounted to HKD 3,810,000, an increase from HKD 3,522,000 as of August 31, 2019, representing a growth of 8.2%[85]. - The bank borrowings as of February 29, 2020, were HKD 5,820,000, down from HKD 7,456,000 as of August 31, 2019, indicating a decrease of 21.9%[87]. Cash Flow and Expenses - The company reported a net cash outflow from operating activities of HKD 2,673,000 for the six months ended February 29, 2020, compared to HKD 6,590,000 in the same period of 2019[21]. - Total employee costs for the six months ended February 29, 2020, were HKD 29,771,000, compared to HKD 23,877,000 for the same period in 2019, indicating an increase of approximately 24.7%[67]. - Depreciation and amortization expenses totaled HKD 1,177,000 for the six months ended February 29, 2020, compared to HKD 873,000 for the same period in 2019, representing an increase of approximately 34.9%[64]. - The effective tax expense for the six months ended February 29, 2020, was HKD 632,000, down from HKD 910,000 for the same period in 2019, representing a decrease of approximately 30.6%[66]. - The company incurred financing costs of HKD 121,000 for the six months ended February 29, 2020, a slight decrease from HKD 134,000 in the same period of 2019, indicating a reduction of approximately 9.7%[65]. Accounting Policies and Standards - The interim consolidated financial statements are presented in Hong Kong dollars and are unaudited[25][26]. - The financial statements were prepared in accordance with Hong Kong Accounting Standards and applicable disclosure requirements[28]. - The adoption of HKFRS 16 resulted in a significant change in accounting policy, eliminating the distinction between operating and finance leases[34]. - The impact of adopting HKFRS 16 included a recognition of right-of-use assets valued at approximately HKD 1,232,000[40]. - The group recognized right-of-use assets and corresponding lease liabilities for all lease arrangements, excluding short-term leases and low-value asset leases[46]. Business Strategy and Outlook - The company plans to continue focusing on expanding its service offerings and enhancing operational efficiency in the upcoming periods[24]. - The group has expanded its business scope to include security guard services, aiming to provide a one-stop security service solution[105]. - The group plans to establish a training center for security personnel to meet the market demand for comprehensive monitoring systems[105]. - The acquisition of a stake in Spark Technology Group aims to provide IoT solutions and maintenance services to key clients in Hong Kong[106]. - The group is focused on leveraging IoT technology to enhance competitiveness and capitalize on opportunities arising from initiatives like the Belt and Road Initiative[103]. - The COVID-19 pandemic poses a threat to the local economy, but the group remains cautiously optimistic about its outlook due to stable revenue sources from ongoing installation and maintenance projects[121]. Shareholder Information - As of February 29, 2020, the group had 1.6 billion shares issued, with significant holdings by key individuals, including 55% held by Dr. Ng and Ms. Wong[129][130]. - ECI Asia Investment Limited holds 880,000,000 shares, representing 55% of the total issued shares as of February 29, 2020[133]. - Mr. Yang Shuo owns 320,000,000 shares, accounting for 20% of the total issued shares as of February 29, 2020[133]. - The total number of issued shares as of February 29, 2020, is 1,600,000,000[133]. - The company has not entered into any arrangements for directors or senior management to acquire securities of the company or its affiliates as of February 29, 2020[135]. Governance and Compliance - The company has established an audit committee in accordance with GEM Listing Rules, consisting of four independent non-executive directors[145]. - The audit committee is responsible for reviewing financial statements and overseeing internal controls and risk management procedures[145]. - The company has adopted a code of conduct for directors' securities transactions, which complies with GEM Listing Rules[141]. - There have been no repurchases or sales of the company's listed securities as of February 29, 2020[142]. - The controlling shareholder has confirmed compliance with the non-competition agreement since the listing date[138].

Financial Performance - ECI Technology Holdings Limited reported revenue of approximately HKD 25,490,000 for the three months ended November 30, 2019, an increase of 18.5% compared to HKD 21,512,000 in the same period of 2018[6]. - The gross profit for the same period was approximately HKD 6,967,000, up from HKD 6,392,000 in 2018, reflecting a gross margin improvement[6]. - The net profit after tax for the period was approximately HKD 267,000, compared to HKD 210,000 in the previous year, indicating a growth of 27.1%[6]. - The operating profit for the period was HKD 444,000, an increase from HKD 361,000 in the prior year[8]. - The group reported total revenue of HKD 25,490,000 for the three months ended November 30, 2019, representing an increase from HKD 21,512,000 in the same period of 2018, reflecting a growth of approximately 18.5%[29]. - The group’s operating profit for the three months ended November 30, 2019, was HKD 1,554,000, compared to HKD 1,843,000 for the same period in 2018, indicating a decrease of approximately 15.7%[30]. - The net profit attributable to owners of the company for the period was HKD 267,000, compared to HKD 210,000 in the prior year[36]. - The profit attributable to the owners of the company for the three months ended November 30, 2019, was approximately HKD 267,000, an increase from HKD 210,000 for the same period in 2018, mainly due to increased maintenance service revenue[49]. Revenue Sources - Installation services generated revenue of HKD 10,636,000, while maintenance services contributed HKD 13,510,000, and security services accounted for HKD 1,344,000 during the same period[29]. - The cost of sales rose by approximately 22.51% from HKD 15,120,000 to HKD 18,523,000 during the same period, aligning with the revenue increase[46]. Expenses - Administrative expenses for the period were HKD 6,505,000, slightly higher than HKD 6,070,000 in 2018[8]. - The total employee costs for the period amounted to HKD 14,090,000, up from HKD 11,152,000 in the previous year, reflecting a significant increase in workforce expenses[19]. - The administrative expenses increased by approximately 7.17% from HKD 6,070,000 for the three months ended November 30, 2018, to HKD 6,505,000 for the three months ended November 30, 2019, primarily due to the expansion of the administrative department related to security services[47]. Dividends - The company did not recommend the payment of an interim dividend for the period[7]. - The company did not declare an interim dividend for the three months ended November 30, 2019, consistent with the previous year[34]. - The company did not recommend the payment of an interim dividend for the three months ended November 30, 2019, compared to no dividend in the same period of 2018[50]. Accounting Standards - The group has adopted all relevant new and/or revised Hong Kong Financial Reporting Standards effective during the accounting period, with no significant impact on the group's performance and financial position[14]. - The application of HKFRS 16 "Leases" introduces a single accounting model for lessees, requiring the recognition of right-of-use assets and lease liabilities for all leases[15]. - The group has chosen to adopt the modified retrospective approach for HKFRS 16, adjusting the opening equity as of September 1, 2019[16]. - The definition change in leases under HKFRS 16 focuses on the concept of control over the identified asset's use[16]. - All leases are capitalized, except for short-term leases and leases of low-value assets[17]. - The initial measurement of lease liabilities is based on the present value of lease payments due during the lease term[18]. - Significant accounting judgments and estimates involve determining the lease term, considering all relevant facts and circumstances[21]. - Any changes in lease term will affect the lease liabilities and right-of-use assets recognized in future periods[21]. - The total lease liabilities recognized on September 1, 2019, amounted to HKD 3,540,000, which included reclassified finance lease obligations of HKD 2,287,000[24]. - The weighted average incremental borrowing rate used for discounting lease liabilities was 4.25%[23]. - The net book value of right-of-use assets as of November 30, 2019, was HKD 3,311,000, down from HKD 3,679,000 on September 1, 2019[27]. - The group capitalized operating lease contracts under HKFRS 16, impacting property, plant, and equipment by a reduction of HKD 2,447,000[26]. - The group has chosen not to recognize lease liabilities for leases that expire within 12 months from the date of initial application of HKFRS 16[23]. - The group’s retained earnings as of September 1, 2019, were adjusted to HKD 9,638,000 after the adoption of HKFRS 16, reflecting a decrease of HKD 21,000[26]. Corporate Governance - The company is listed on the GEM of the Hong Kong Stock Exchange under stock code 8013[5]. - The audit committee was established on February 17, 2017, in accordance with GEM Listing Rules, consisting of four independent non-executive directors[71]. - The audit committee reviewed the unaudited consolidated financial statements for the three months ended November 30, 2019, prior to board approval on January 14, 2020[72]. - The board of directors includes eight members, with three executive directors and four independent non-executive directors[73]. - The company has maintained good corporate governance practices in line with GEM Listing Rules[67]. - The board believes that having Dr. Wu serve as both Chairman and CEO is beneficial for the company's operations and management[67]. - The company has adopted a set of securities trading code for directors, which meets the required trading standards[68]. - There were no share buybacks or purchases of the company's listed securities during the reporting period[69]. - The company has confirmed compliance with the non-competition agreement signed by its controlling shareholders since the listing date[65]. - The company has not established any arrangements for directors or senior management to acquire its securities during the reporting period[64]. - The company has confirmed that there are no conflicts of interest with its business operations as of the report date[66]. Future Plans and Opportunities - The company plans to expand its business scope to include security guard services, aiming to provide a one-stop security service solution[43]. - The company is actively pursuing opportunities in the IoT sector to enhance its service offerings and improve operational efficiency[44]. - The company has secured several large government maintenance contracts during the period, indicating a strong position in the public sector market[40]. - As of November 30, 2019, the company had utilized approximately HKD 19,500,000 of the net proceeds from its listing, with approximately HKD 12,000,000 remaining unutilized[55]. - The company plans to use unutilized listing proceeds for obtaining more licenses and qualifications (HKD 3,500,000) and expanding the existing security services division (HKD 3,500,000)[56]. - The company aims to become a one-stop comprehensive environmental solution provider through ongoing business diversification[51]. Shareholding Structure - As of November 30, 2019, the company had 1,600,000,000 shares issued, with Dr. Wu holding 880,000,000 shares (55%) through ECI Asia Investment Limited[59]. - Ms. Wang holds 880,000,000 shares (55%) as a spouse of Dr. Wu, and Mr. Yang holds 320,000,000 shares (20%) as a beneficial owner[62]. - No other directors or senior management held any shares or debt securities that required disclosure under the Securities and Futures Ordinance as of the report date[60]. - The company has not granted or agreed to grant any share options under its share option scheme as of November 30, 2019[57]. - The company believes that its foreign exchange risk is minimal as all transactions are conducted in HKD[54]. - The company has no significant contingent liabilities as of November 30, 2019[53].

Financial Performance - The revenue for the year ended August 31, 2019, was approximately HKD 95,522,000, an increase of 7.7% from HKD 89,786,000 in the previous year[10]. - The gross profit for the same period was approximately HKD 27,443,000, up from HKD 23,306,000, reflecting a gross margin improvement[10]. - The net profit for the year was approximately HKD 877,000, a decrease of 21.9% compared to HKD 1,124,000 in the previous year, primarily due to increased administrative costs and operational expenses[10]. - The company's revenue increased by approximately 6.39% from HKD 89,786,000 for the year ended August 31, 2018, to HKD 95,522,000 for the year ended August 31, 2019, primarily due to the launch of security guard services and an increase in completed installation projects[26]. - Gross profit rose by approximately 17.75% from HKD 23,306,000 for the year ended August 31, 2018, to HKD 27,443,000 for the year ended August 31, 2019[27]. - Administrative expenses increased by approximately 18.19% from HKD 22,108,000 for the year ended August 31, 2018, to HKD 26,130,000 for the year ended August 31, 2019, mainly due to staff expansion and increased rental and depreciation costs related to security guard operations[28]. - The company recorded a net profit of approximately HKD 877,000 for the year ended August 31, 2019, down from HKD 1,124,000 in the previous year, attributed to increased administrative costs[30]. Dividends - The company did not recommend the payment of a final dividend for the year ended August 31, 2019[11]. - The board resolved not to declare a final dividend for the year ended August 31, 2019, consistent with the previous year[39]. - The group has approximately HKD 9,325,000 available for distribution to shareholders as of August 31, 2019[109]. - The group did not recommend the distribution of a final dividend for the year ending August 31, 2019[100]. Business Expansion and Strategy - The company secured two maintenance contracts related to the Hong Kong-Zhuhai-Macao Bridge and West Kowloon Station, both lasting three years, which commenced in July 2019[13]. - The company expanded into new security guard services, which are expected to become a major business segment in the near future[13]. - The acquisition of equity in Spark Technology Group Limited was made to modernize IoT technology knowledge and provide IoT solutions and services in Hong Kong[13]. - The company plans to expand its business scope by providing security guard services, which is expected to become a major operational segment in the near future[19]. - The company has signed a distribution agreement with a well-known parking system in Hong Kong, aiming to expand its customer base through new systems and technologies[19]. - The company is focusing on integrating the latest technologies with smart devices to provide optimal solutions for clients, particularly in parking systems[21]. - The company aims to leverage the "Belt and Road Initiative" and "Greater Bay Area Initiative" to enhance economic cooperation and capture opportunities in the rapidly growing ELV systems market in China[22]. - The company is planning to establish a training center for security personnel and provide a one-stop solution for security services, enhancing recruitment and training channels in the industry[23]. - The group aims to become a one-stop comprehensive environmental solution provider through ongoing business diversification[36]. Risk Management - The company identified key risks including strategic risks from changing competitive landscape and market saturation[56]. - Operational risks include poor performance of subcontractors and lack of experienced management personnel[56]. - Financial risks encompass liquidity risk, credit risk, interest rate risk, and inflation risk[56]. - Compliance risks involve occupational safety and health risks, failure to comply with employment regulations, and changes in listing rules and related corporate laws[56]. - The company employs a "three lines of defense" governance structure for risk management, with annual assessments of risk management framework effectiveness[57]. - An independent internal audit function is outsourced to external professionals to enhance internal controls and risk management systems[59]. - The risk register is updated at least annually to track identified risks and actions taken to mitigate them[57]. - The management team is committed to integrating risk management into daily operations to align with corporate objectives[59]. - The company has no internal audit function currently, but the need for one is reviewed at least annually[59]. Corporate Governance - The board of directors includes a mix of executive and independent non-executive members, ensuring governance and oversight[117]. - The company has confirmed the independence of its independent non-executive directors as of the report date[118]. - The company has adopted the GEM Listing Rules Appendix 15 Corporate Governance Code, with a deviation from Code Provision A.2.1, as the Chairman and CEO roles are held by the same individual, Dr. Ng Tai Wing, since 2003[152]. - The company has established an Audit Committee, which includes four independent non-executive directors, to oversee financial reporting and internal controls[163]. - The Remuneration Committee, also comprising four independent non-executive directors, has reviewed the remuneration packages for directors and senior management, deeming them fair and reasonable for the year ending August 31, 2019[167]. - The company has provided liability insurance for its directors to cover any legal liabilities arising from their duties[158]. - The company has established three board committees: Audit Committee, Remuneration Committee, and Nomination Committee, each with defined terms of reference[162]. - The company established a nomination committee on March 10, 2017, to review the board's structure, size, composition, and diversity, providing recommendations for changes to support corporate strategy[169]. - The nomination committee is composed of one executive director and four independent non-executive directors, with Dr. Wu Tai-lung serving as the chairman[171]. - The company adopted a nomination policy on December 31, 2018, to ensure board members possess the necessary skills, experience, and diverse perspectives for future development[171]. - The board diversity policy aims to enhance performance quality and considers factors such as gender, age, cultural background, and professional experience in board composition[172][173]. - The company has measurable targets for board diversity, which will be disclosed annually in the corporate governance report[174]. - The nomination committee is responsible for reviewing and monitoring the achievement of measurable targets related to board diversity[175]. Shareholder Communication - The group emphasizes effective communication with shareholders through its shareholder communication policy, available on the company and stock exchange websites[197]. - The board considers various factors when determining financial performance and business strategies, including general economic conditions and long-term development[199].

Financial Performance - For the nine months ended May 31, 2019, ECI Technology Holdings Limited reported revenue of approximately HKD 73,666,000, an increase of 6.4% compared to HKD 69,232,000 for the same period in 2018[9]. - The gross profit for the same period was approximately HKD 23,636,000, representing a 14.5% increase from HKD 20,638,000 in the previous year[9]. - The total profit and comprehensive income for the nine months was approximately HKD 3,872,000, up 28.6% from HKD 3,010,000 in 2018[9]. - The operating profit for the nine months was HKD 5,429,000, which is a 23.8% increase from HKD 4,382,000 in the previous year[12]. - The net profit for the three months ended May 31, 2019, was HKD 576,000, compared to HKD 236,000 for the same period in 2018, marking a significant increase[12]. - The basic and diluted earnings per share for the nine months were HKD 0.242, compared to HKD 0.188 in the previous year, reflecting a 28.7% increase[13]. - The company reported a profit of HKD 4,160,000 during the period, contributing to an overall increase in retained earnings to HKD 12,942,000[15]. - The profit attributable to the company's owners increased to approximately HKD 3,872,000 from about HKD 3,010,000, driven by the increase in completed installation projects[87]. Revenue Sources - Installation services generated revenue of HKD 39,846,000 for the nine months ended May 31, 2019, compared to HKD 33,990,000 for the same period in 2018, reflecting a growth of approximately 17.0%[63]. - Maintenance services revenue was HKD 33,535,000 for the nine months ended May 31, 2019, down from HKD 35,242,000 in the previous year, indicating a decrease of about 4.8%[63]. - The company has secured a three-year maintenance contract related to the Hong Kong-Zhuhai-Macao Bridge, valued at approximately HKD 40.0 million, which commenced in June 2019[73]. - The company has diversified its business by starting to provide security guard services, which are expected to become a major business segment in the future[75]. - The company has become an authorized distributor for a European parking system supplier, allowing it to expand its customer base with new technology[72]. Expenses and Costs - Administrative expenses for the nine months were HKD 18,631,000, an increase from HKD 16,338,000 in the previous year, indicating a rise in operational costs[12]. - Employee costs totaled approximately HKD 36,413,000 for the nine months ended May 31, 2019, compared to HKD 32,950,000 for the same period in 2018, reflecting an increase of about 10.9%[68]. - The cost of sales rose by about 2.96% from approximately HKD 48,594,000 to about HKD 50,030,000, consistent with the revenue increase[83]. - Gross profit increased by approximately 14.53% from about HKD 20,638,000 to approximately HKD 23,636,000 for the same period[83]. - Administrative expenses rose by approximately 14.03% from about HKD 16,338,000 to approximately HKD 18,631,000, mainly due to increased rental and depreciation costs[84]. Financial Position - As of May 31, 2019, total equity attributable to owners reached HKD 55,142,000, up from HKD 53,824,000 as of May 31, 2018, reflecting a growth of approximately 2.4%[15]. - The company applied new and revised Hong Kong Financial Reporting Standards, including HKFRS 9 on financial instruments and HKFRS 15 on revenue from contracts with customers, effective from January 1, 2018[26]. - The company recognized an additional impairment provision of approximately HKD 547,000 for trade receivables and HKD 121,000 for contract assets, resulting in a decrease of retained earnings by approximately HKD 668,000 as of September 1, 2018[50]. - The company has not restated comparative information due to the transition to the new standard, which may affect comparability[31]. Corporate Governance - The company has adopted the corporate governance code as per GEM listing rules, ensuring effective accountability and management structure[113]. - The audit committee, consisting of four independent non-executive directors, has reviewed the financial statements for the nine months ending May 31, 2019[120]. - The company has established an audit committee in accordance with GEM listing rules to oversee financial reporting and internal controls[118]. - The chairman and CEO roles are held by the same individual, which the board believes is beneficial for the company's operations[113]. - The company has not engaged in any business that constitutes or may constitute competition with its group business during the reporting period[112]. Future Plans and Investments - The group plans to invest in developing internal capabilities and collaborate with business partners to provide integrated ELV solutions and security services[81]. - The group aims to address the increasing demand for security services by offering reliable and flexible facility management services to residential and corporate clients[79]. - The group will establish a training center to train security personnel, addressing the labor shortage in the security industry[79]. - The group established a wholly-owned subsidiary in the People's Republic of China with an estimated investment cost of HKD 10 million, which is not yet operational[89]. - The group acquired a 20% stake in Spark Technology Group Limited through the subscription of new shares during the period[90]. Listing Proceeds and Utilization - The net proceeds from the listing amounted to approximately HKD 31,500,000, with HKD 15,900,000 utilized as of May 31, 2019[98]. - The budgeted amount for providing installment payment options to customers was HKD 12.0 million, of which HKD 1.6 million has been utilized, leaving HKD 10.4 million unutilized[98]. - For expanding existing ELV solutions, HKD 4.4 million was budgeted, with only HKD 0.3 million utilized, resulting in HKD 4.1 million remaining[98]. - A one-time repayment of bank loans to reduce the debt ratio accounted for HKD 8.0 million, fully utilized[98]. - The acquisition of five commercial vehicles and two streetlight vehicles was budgeted at HKD 3.0 million, fully utilized[98]. - Development of a new mobile application for customer service orders had a budget of HKD 1.5 million, with HKD 0.4 million utilized, leaving HKD 1.1 million unutilized[98]. - Operational funds and other corporate development were budgeted at HKD 2.6 million, fully utilized[98]. - As of May 31, 2019, the total unutilized amount from the listing proceeds was HKD 15.6 million[98]. Shareholder Information - The major shareholders include ECI Asia Investment Limited holding 55% and Yang Shuo holding 20% of the shares[102][106]. - The controlling shareholder has confirmed compliance with the non-competition agreement since the listing date up to the report date[112]. - The company has not granted any share options under the share option scheme as of May 31, 2019[100].

Financial Performance - The revenue for the six months ended February 28, 2019, was approximately HKD 49,530,000, an increase from HKD 44,556,000 for the same period in 2018, representing an increase of about 4.4%[9] - The gross profit for the same period was approximately HKD 17,113,000, compared to HKD 14,990,000 in 2018, indicating a growth of approximately 14.1%[9] - The net profit after tax for the period was approximately HKD 3,584,000, up from HKD 2,774,000 in 2018, reflecting an increase of about 29.1%[9] - Revenue for the six months ended February 28, 2019, was HKD 49,530,000, an increase of 11.1% compared to HKD 44,556,000 for the same period in 2018[16] - Gross profit for the six months ended February 28, 2019, was HKD 17,113,000, representing a gross margin of 34.5%, up from HKD 14,990,000 and a gross margin of 33.7% in 2018[16] - Operating profit for the six months ended February 28, 2019, was HKD 4,628,000, a 22.2% increase from HKD 3,787,000 in the same period of 2018[16] - Profit attributable to owners of the company for the six months ended February 28, 2019, was HKD 3,584,000, compared to HKD 2,774,000 for the same period in 2018, reflecting a growth of 29.1%[16] - Basic and diluted earnings per share for the six months ended February 28, 2019, were HKD 0.224, up from HKD 0.173 in 2018, indicating a 29.5% increase[16] Dividend and Shareholder Information - The company did not recommend the payment of an interim dividend for the period[10] - The company did not declare or recommend any dividends for the six months ended February 28, 2019[83] - The largest shareholder, Dr. Ng Tai Wing, holds 880 million shares, representing 55% of the total shares issued[149] Compliance and Governance - The company is committed to adhering to the GEM Listing Rules and ensuring the accuracy and completeness of its financial reports[3] - The interim financial statements were prepared in accordance with Hong Kong Accounting Standard 34, ensuring compliance with relevant regulations[12] - The company has confirmed compliance with the non-competition agreement signed by the controlling shareholder, ensuring no conflicts of interest or competitive business activities since February 28, 2019[157] - The audit committee, consisting of four independent non-executive directors, has reviewed the unaudited interim financial information for the six months ended February 28, 2019, and approved it on April 12, 2019[167] - The company has adopted a set of securities trading code for directors, confirming adherence to the required trading standards since February 28, 2019[162] - The company has maintained good corporate governance practices in accordance with the GEM Listing Rules, with a noted deviation regarding the separation of the roles of Chairman and CEO[160] - The board of directors consists of eight members, including three executive directors and four independent non-executive directors, ensuring a diverse governance structure[168] Financial Position and Assets - Trade receivables increased significantly to HKD 31,136,000 as of February 28, 2019, compared to HKD 18,530,000 as of August 31, 2018, representing a growth of 67.6%[17] - Total assets as of February 28, 2019, were HKD 61,245,000, an increase from HKD 56,767,000 as of August 31, 2018[17] - Cash and cash equivalents decreased to HKD 17,119,000 as of February 28, 2019, down from HKD 21,647,000 as of August 31, 2018, a decline of 20.9%[22] - The company raised HKD 12,000,000 in new bank borrowings during the six months ended February 28, 2019, compared to HKD 5,000,000 in the same period of 2018[22] - The net cash used in operating activities for the six months ended February 28, 2019, was HKD (6,590,000), an improvement from HKD (11,556,000) in 2018[22] Accounting Standards and Policies - The interim consolidated financial statements for the six months ended February 28, 2019, were prepared in accordance with Hong Kong Accounting Standard 34 "Interim Financial Reporting"[28] - The accounting policies and methods used in the interim financial statements are consistent with those used in the annual financial statements for the year ended August 31, 2018[29] - The group has adopted new and revised Hong Kong Financial Reporting Standards effective from January 1, 2018, including HKFRS 9 on financial instruments and HKFRS 15 on revenue from contracts with customers[31] - The application of HKFRS 9 has introduced new requirements for the classification and measurement of financial assets and liabilities, as well as expected credit losses[35] - The expected credit loss model requires the group to recognize loss allowances for financial assets and contract assets, reflecting changes in credit risk since initial recognition[42] - The new accounting policies have resulted in changes to reported amounts and disclosures in the financial statements[31] Business Operations and Strategy - The company continues to focus on enhancing its operational efficiency and exploring new market opportunities[9] - The group aims to provide security services as a major offering in the coming years, focusing on event security and integrated facility management services[124] - The group has successfully negotiated to become an authorized distributor for a European parking system supplier, expanding its customer base through new technology[118] - The group plans to leverage the Internet of Things to provide more comprehensive and advanced solutions, enhancing competitiveness in response to China's "Belt and Road Initiative" and other economic cooperation opportunities[122] - The group intends to establish a training center to address the labor shortage in the security industry, providing a one-stop solution for security services[124] - The group will continue to invest in developing internal capabilities and collaborate with business partners to offer integrated ELV solutions and security services[125] Employee and Management Information - The company had a total of 201 employees as of February 28, 2019, up from 181 employees a year earlier[143] - The total remuneration for key management personnel increased to HKD 1,392,000 for the six months ended February 28, 2019, compared to HKD 1,185,000 for the same period in 2018[115] Events After Reporting Period - There were no major events occurring after February 28, 2019[142] - The company has not granted any share options under the share option scheme as of February 28, 2019[147] - The company has not engaged in any share buyback activities during the reporting period, maintaining a stable capital structure[163]

Financial Performance - For the three months ended November 30, 2018, ECI Technology Holdings Limited reported revenue of approximately HKD 21,512,000, a decrease of 0.96% compared to HKD 21,721,000 for the same period in 2017[6]. - The gross profit for the same period was approximately HKD 6,392,000, down from HKD 7,002,000 in 2017, reflecting a decline of about 8.7%[6]. - The net profit attributable to the owners of the company for the three months was approximately HKD 210,000, a significant decrease of 85% from HKD 1,400,000 in the previous year[6]. - The operating profit for the period was HKD 361,000, compared to HKD 1,988,000 in 2017, indicating a decline of approximately 81.8%[7]. - The group's revenue for the three months ended November 30, 2018, was HKD 21,512,000, a decrease from HKD 21,721,000 in the same period of 2017, representing a decline of approximately 0.96%[17]. - The net profit for the three months ended November 30, 2018, was HKD 210,000, a significant decrease from HKD 1,646,000 in the previous period, reflecting a decline of approximately 87.25%[14]. - The cost of sales for the period was HKD 15,120,000, compared to HKD 15,401,000 under the previous accounting standard, indicating a reduction of approximately 1.82%[14]. - Total employee costs amounted to approximately HKD 11,152,000 for the three months ended November 30, 2018, compared to HKD 7,365,000 for the same period in 2017, reflecting an increase due to rising labor and material costs[24]. - The company's gross profit decreased by approximately 8.71% to HKD 6,392,000 for the three months ended November 30, 2018, down from HKD 7,002,000 in the same period in 2017[29]. Administrative and Operational Expenses - Administrative expenses increased to HKD 6,070,000 from HKD 5,036,000, representing a rise of about 20.5% year-over-year[7]. - Administrative expenses increased by approximately 20.53% to HKD 6,070,000 for the three months ended November 30, 2018, primarily due to increased rental and depreciation costs related to security operations[30]. Dividends and Equity - The company did not recommend the payment of an interim dividend for the three months ended November 30, 2018[6]. - The total equity as of November 30, 2018, was approximately HKD 52,148,000, an increase from HKD 51,938,000 as of September 1, 2018[8]. - The board of directors did not recommend the payment of an interim dividend for the three months ended November 30, 2018, consistent with the previous year[32]. Business Operations and Strategy - ECI Technology Holdings Limited primarily engages in investment holding and provides ELV solutions in Hong Kong[9]. - The company has expanded its business scope by obtaining a Class 1 security company license to provide security guard services, starting to offer event security services during the period[23]. - The company aims to enhance its ELV solutions by integrating advanced smart devices and providing comprehensive installation and maintenance services, responding to the growing demand for modern technology in buildings[25]. - The company plans to establish a training center to address the labor shortage in the security industry, aiming to provide a one-stop solution for security personnel training[27]. - The company is collaborating with strategic partners to develop advanced parking systems, leveraging the Internet of Things to enhance competitiveness in the market[26]. - The company anticipates that initiatives like the Belt and Road Initiative and the Greater Bay Area development will promote economic cooperation and create opportunities in the ELV systems market in China[26]. Accounting and Financial Reporting - The application of HKFRS 15 resulted in a revenue adjustment of HKD (1,940,000), impacting the financial results for the period[14]. - The group has not adopted any new accounting standards that have not yet come into effect, maintaining consistency in financial reporting practices[16]. - The transition to HKFRS 15 has led to changes in accounting policies and adjustments in the financial statements, aligning with the new revenue recognition framework[13]. Shareholder Information - The company holds 2,250,000 shares in a listed company, representing a 0.19% stake, with a fair value of HKD 351,000 as of November 30, 2018[32]. - The company’s major shareholders include ECI Asia Investment Limited, holding 880,000,000 shares (55%), and Yang Shuo, holding 320,000,000 shares (20%) as of November 30, 2018[36]. - The total issued shares of the company as of November 30, 2018, amounted to 1,600,000,000[37]. Corporate Governance - The company has adopted the corporate governance code as per GEM listing rules, ensuring effective accountability and management structure[45]. - The audit committee, consisting of four independent non-executive directors, reviewed the financial statements for the quarter ending November 30, 2018, prior to board approval[50]. - The company has confirmed compliance with the trading standards for directors during the reporting period[46]. - The audit committee is responsible for recommending the appointment or reappointment of external auditors and reviewing the company's financial reporting[49]. - The company has maintained good corporate governance practices throughout the reporting period, except for the noted deviation regarding the chairman and CEO roles[45]. - The chairman and CEO roles are held by the same individual, which deviates from the corporate governance code, but the board believes this is beneficial for the company's operations[45]. Utilization of Proceeds - As of November 30, 2018, the company utilized approximately HKD 15,300,000 of the net proceeds from its listing, with HKD 16,200,000 remaining unutilized[33]. - The company allocated HKD 12,000,000 for expanding customer installment payment options, of which only HKD 1,000,000 has been utilized[33]. - The company plans to develop a new mobile application for customers to place maintenance service orders, with a budget of HKD 1,500,000, of which HKD 400,000 has been utilized[33]. - The company aims to reduce its debt-to-equity ratio by repaying part of its bank borrowings, with HKD 8,000,000 fully utilized for this purpose[33]. Securities and Acquisitions - No acquisitions or arrangements were made by the company or its subsidiaries that would allow directors or senior management to benefit from purchasing the company's securities during the reporting period[42]. - The company has not granted or agreed to grant any share options under its share option scheme as of November 30, 2018[34]. - The company did not repurchase or sell any of its listed securities during the reporting period[47]. - The company has confirmed that there were no competing businesses owned by directors or controlling shareholders during the reporting period, and they adhered to the non-competition agreement[44].