Financial Performance - For the fiscal year ending April 30, 2024, the total revenue decreased to HKD 82,405,000 from HKD 145,960,000, representing a decline of approximately 43.5%[5] - The gross profit increased to HKD 50,740,000 compared to HKD 47,848,000 in the previous year, showing an increase of about 6.0%[5] - The total comprehensive loss for the year was HKD 12,230,000, compared to HKD 106,438,000 in the previous year, reflecting a significant improvement of about 88.5%[9] - The company reported a loss from continuing operations of HKD 11,147,000, an improvement from a loss of HKD 105,320,000 in the previous year[5] - The company reported a loss of HKD 11,147,000 for the year ended April 30, 2024, compared to a loss of HKD 112,384,000 for the previous year, indicating an improvement in performance[14] - The total comprehensive expenses for the year amounted to HKD 12,230,000, which includes a fair value loss of HKD 1,083,000[14] - The accumulated losses increased to HKD 473,264,000 as of April 30, 2024, from HKD 462,117,000 as of April 30, 2023, reflecting a rise of approximately 2.5%[14] - The company recorded a consolidated after-tax loss of approximately HKD 11,147,000 for the year ending April 30, 2024, with cash and bank balances of HKD 18,480,000 insufficient to cover all current liabilities due within the next twelve months[26] - The company recorded a total revenue decrease of approximately HKD 82,400,000, representing a 44% decline compared to the previous year[73] - The net loss attributable to the owners of the company for the year was approximately HKD 11,100,000, a significant reduction of about HKD 94,200,000 from the previous year[73] Assets and Liabilities - The net asset value decreased to HKD 383,877,000 from HKD 396,107,000, a decline of approximately 3.1%[13] - The total current assets decreased to HKD 333,940,000 from HKD 534,535,000, a decline of approximately 37.5%[11] - The total liabilities increased to HKD 197,362,000 from HKD 174,893,000, an increase of about 12.8%[13] - As of April 30, 2024, the total equity attributable to the company's owners is HKD 383,877,000, a decrease from HKD 396,107,000 as of April 30, 2023, representing a decline of approximately 3.1%[14] - The company's total assets as of April 30, 2024, were approximately HKD 582,000,000, compared to HKD 575,600,000 on April 30, 2023[99] - The company's debt-to-equity ratio increased to approximately 38.8% from 31.5% in the previous year, indicating a rise in financial leverage[102] Revenue Sources - Revenue from customer contracts for construction and related services decreased to HKD 36,812,000 in 2024 from HKD 103,413,000 in 2023, representing a decline of approximately 64.4%[28] - Total revenue from continuing operations was HKD 82,405,000 for the year ending April 30, 2024, down from HKD 145,960,000 in 2023, indicating a decrease of about 43.4%[28] - The construction and related services segment generated external revenue of HKD 36,812,000, while the lending business contributed HKD 45,593,000[33] - Total revenue from external customers for the year ended April 30, 2023, was HKD 145,960,000, with contributions of HKD 103,413,000 from construction services and HKD 42,547,000 from lending business[34] - The lending business generated revenue of approximately HKD 45,600,000 this year, up from HKD 42,500,000 in the previous year[86] Expenses and Costs - The operating and administrative expenses were reduced to HKD 18,271,000 from HKD 27,440,000, a decrease of about 33.4%[5] - The financing costs increased to HKD 8,588,000 from HKD 7,147,000, representing an increase of approximately 20.2%[5] - The total tax expense for 2024 is HKD (5,906,000), compared to HKD 487,000 in 2023, reflecting a substantial increase in tax liabilities[48] - Employee costs for the year amounted to approximately HKD 17,100,000, a decrease from HKD 36,100,000 in the previous year[125] Credit Losses and Provisions - The expected credit loss recognized under the expected credit loss model was HKD 24,409,000, down from HKD 92,865,000, indicating a reduction of approximately 73.7%[5] - The expected credit loss impairment for loans and interest recognized in 2024 is HKD 24,038,000, a decrease from HKD 84,555,000 in 2023, indicating a significant reduction in credit risk[46] - The credit loss provision for accounts receivable was HKD 264,089,000 as of April 30, 2024, compared to HKD 240,051,000 in 2023[60] - The expected credit loss provision for receivables and interest was approximately HKD 264.1 million, up from HKD 240.1 million in 2023, with a net impairment loss of approximately HKD 24 million, down from HKD 84.6 million in 2023[103] Business Operations - The company’s main business includes scaffolding, fit-out services, lending, and securities investment[17] - The company secured 4 new construction contracts during the year, compared to 2 in the previous year[75] - The company provided scaffolding services for 44 ongoing projects, with 12 completed on schedule during the year[76] - The company is adapting to market trends by shifting from bamboo scaffolding to iron scaffolding, which is expected to dominate the future scaffolding business[94] - The company aims to diversify its business scope and actively explore suitable investment opportunities to drive overall business development[95] Compliance and Governance - The audit committee consists of two independent non-executive directors, responsible for reviewing the group's financial reporting and risk management[129] - The group has not used any financial instruments for hedging purposes during the year and has no unexercised hedging instruments as of April 30, 2024[115] - The group will continue to review investment strategies and take appropriate actions in response to market changes[112] Employee and Workforce - The group has a total of 43 full-time employees as of April 30, 2024, down from 50 employees the previous year[125] - The group emphasizes the importance of attracting, training, and retaining skilled personnel for its growth[123]

Financial Performance - For the three months ended October 31, 2023, the revenue from continuing operations was HKD 21,122,000, a decrease of 49.6% compared to HKD 41,786,000 for the same period in 2022[22] - The gross profit for the same period was HKD 12,596,000, representing a 39.5% increase from HKD 9,044,000 in the previous year[22] - The total comprehensive expenses for the six months ended October 31, 2023, amounted to HKD 16,640,000, compared to HKD 15,851,000 for the same period in 2022, reflecting an increase of 5.0%[11] - The net loss for the six months ended October 31, 2023, was HKD 11,740,000, a decrease of 44.8% from HKD 21,262,000 in the same period last year[22] - The company reported other income of HKD 768,000 for the six months ended October 31, 2023, down from HKD 2,559,000 in the previous year[22] - The basic and diluted loss per share from continuing operations was HKD 0.114 for the six months ended October 31, 2023, compared to a loss of HKD 0.148 for the same period in 2022, representing a 23% improvement[25] - The company reported a total comprehensive loss for the six months ended October 31, 2023, reflecting ongoing challenges in its operational segments[34] - The company reported a loss before tax of HKD 20,334 thousand for the three months ended October 31, 2023, compared to a loss of HKD 6,904 thousand in the same period of 2022[62] - For the three months ended October 31, 2023, the loss from continuing operations was HKD 16,378, compared to a loss of HKD 15,461 for the same period in 2022, indicating an increase in loss of approximately 5.9%[71] - For the six months ended October 31, 2023, the loss from continuing operations was HKD 11,740, a decrease of approximately 44.5% compared to a loss of HKD 21,209 in the same period of 2022[71] Revenue Breakdown - The revenue from scaffolding, fit-out, and other ancillary services for the six months ended October 31, 2023, was HKD 22,918,000, down 63.2% from HKD 62,331,000 in the same period of 2022[36] - Total revenue from the scaffolding, fit-out, and other ancillary services segment was HKD 22,918 thousand for the three months ended October 31, 2023[61] - The company’s revenue from the securities investment business was HKD 1,330 thousand for the three months ended October 31, 2023[61] - The lending business segment recorded revenue of approximately HKD 23,600,000, an increase from HKD 22,700,000 in the same period last year[114] - The company generated revenue of approximately HKD 22,900,000 during the reporting period, a significant decrease of about HKD 62,300,000 compared to the same period last year due to a reduction in new contracts[111] Expenses and Liabilities - The operating and administrative expenses for the six months ended October 31, 2023, were HKD 10,303,000, compared to HKD 19,298,000 for the same period in 2022, indicating a reduction of 46.6%[22] - Interest expenses from other loans decreased to HKD 1,574 thousand for the three months ended October 31, 2023, compared to HKD 1,747 thousand in the same period of 2022, representing a decrease of 9.9%[45] - The company recorded a net impairment loss of HKD 39,015 thousand due to expected credit losses for the six months ended October 31, 2023[47] - The total accounts payable and other payables amounted to HKD 41,720 as of October 31, 2023, compared to HKD 34,975 as of April 30, 2023, reflecting an increase of approximately 19.9%[80] - The company’s total liabilities increased to HKD 192,827 thousand as of October 31, 2023, compared to HKD 174,893 thousand[49] Assets and Equity - The total assets as of October 31, 2023, were valued at HKD 383,927,000, a decrease from HKD 396,107,000 in the previous year[14] - The company’s equity attributable to owners was HKD 383,927,000, down from HKD 396,107,000 year-on-year[14] - Cash and cash equivalents from continuing operations amounted to HKD 17,175 thousand as of October 31, 2023, down from HKD 26,324 thousand[54] - The company’s total assets less current liabilities were HKD 385,143 thousand as of October 31, 2023, compared to HKD 400,712 thousand[49] - The company’s accounts receivable as of October 31, 2023, totaled HKD 41,022,000, an increase from HKD 33,571,000 as of April 30, 2023[101] Business Operations - The company has three operating segments: scaffolding and fit-out services, lending business, and securities investment business, which are managed separately due to their different operational systems and strategies[38] - The company continues to provide scaffolding, fit-out, and other ancillary services in the construction and building sector[86] - The company has adjusted its business strategy to increase lending requirements for borrowers, which has led to a decrease in revenue from this segment[142] - The construction and scaffolding services segment faced challenges due to a shortage of skilled labor, leading to increased labor costs and decreased profit margins[138] - The company has received positive feedback for its expansion into ceiling engineering within its renovation services[140] Investments and Sales - The company agreed to sell two wholly-owned subsidiaries for a total consideration of HKD 530 million[43] - The company completed the sale of its subsidiary for a cash consideration of HKD 530,000, which resulted in the termination of its asset management division[118] - Instant Victory Global Limited agreed to sell 1,000 shares of its subsidiary, Blue Tang Ventures Limited, for a total consideration of approximately HKD 199,000, HKD 199,000, and HKD 132,000, representing 37.5%, 37.5%, and 25.0% of the issued share capital respectively[65] - The fair value gain on financial assets measured at fair value through profit or loss for the six months ended October 31, 2023, was HKD 1,022,000, compared to HKD 6,939,000 in the same period of 2022[42] - The total value of the company's investment portfolio was approximately HKD 48,700,000 as of October 31, 2023, an increase from HKD 47,500,000 on April 30, 2023[143] Corporate Governance - The board currently does not have a chairman or CEO, with daily operations managed by executive directors[178] - The audit committee is responsible for reviewing the annual report, half-yearly report, and quarterly reports, providing recommendations to the board[179] - The company has adopted a share option scheme in compliance with GEM Listing Rules[152] - The company has maintained the required public float as per GEM Listing Rules[162] - The unaudited condensed consolidated interim results have been reviewed by the audit committee and comply with applicable accounting standards and legal requirements[165]

Financial Performance - For the three months ended July 31, 2023, total revenue from continuing operations was HKD 25,352,000, a decrease of 41.4% compared to HKD 43,265,000 for the same period in 2022[7] - Gross profit for the same period was HKD 13,668,000, down from HKD 15,675,000, reflecting a decline of 12.8%[7] - The company reported a profit attributable to owners of the company of HKD 4,638,000, compared to a loss of HKD 5,801,000 in the previous year[7] - Earnings per share from continuing operations was HKD 0.032, an improvement from a loss of HKD 0.040 per share in the same period last year[7] - The company's revenue for the three months ended July 31, 2023, was approximately HKD 25,400,000, a decrease of about 41.3% compared to HKD 43,300,000 in the same period of 2022[41] - The net profit attributable to the company's owners for the reporting period was approximately HKD 4,638,000, compared to a net loss of HKD 5,801,000 in the same period of 2022[28] Revenue Breakdown - Revenue from construction and related services was HKD 12,551,000, significantly down from HKD 30,239,000, indicating a decline of 58.5%[23] - The company reported a decrease in contract revenue from scaffolding, finishing, and other ancillary services, generating approximately HKD 12,600,000, down by about HKD 17,600,000 from the previous year[42] - The group recorded revenue of approximately HKD 12,800,000 for the lending business, a slight decrease from HKD 13,000,000 in the same period last year, reflecting a decrease of about 1.5%[47] - The asset management business did not record any revenue during the reporting period, compared to approximately HKD 176,000 in the same period last year[51] - The company reported no revenue from discontinued operations for the three months ended July 31, 2023, compared to HKD 176,000 in the same period of 2022[38] Expenses and Losses - Interest income from loans was HKD 12,801,000, slightly down from HKD 13,026,000, a decrease of 1.7%[23] - Other income for the period was HKD 762,000, down from HKD 1,682,000, a decline of 54.7%[7] - Operating and administrative expenses included a loss of HKD 4,559,000 from the sale of properties, plant, and equipment, compared to a loss of HKD 7,579,000 in the previous year[7] - The company experienced a significant reduction in other gains and losses, reporting a loss of HKD 2,734,000 compared to a loss of HKD 12,726,000 in the prior year[7] - Operating and administrative expenses decreased from approximately HKD 7,600,000 to about HKD 4,600,000, primarily due to reduced employee costs and depreciation[55] Financial Position - As of July 31, 2023, the group had shareholders' equity of approximately HKD 400,600,000, up from HKD 396,100,000 on April 30, 2023[56] - The company experienced a reduction in bad debt write-offs by approximately HKD 5,600,000 compared to the previous year[41] - The fair value loss on financial assets measured at fair value through profit or loss decreased by approximately HKD 1,100,000 compared to the previous year[41] - The group reported a net fair value loss of approximately HKD 3,000,000 from its investment portfolio, an improvement from a net loss of HKD 4,200,000 in the same period last year[48] Business Strategy and Operations - The company is focused on expanding its construction and related services, as well as its lending and securities investment businesses[20] - The group aims to revitalize its scaffolding business in response to the declining use of bamboo scaffolding, focusing on mixed and steel scaffolding solutions[53] - The group plans to strictly adhere to cost control policies and rapidly adjust its scaffolding business strategies to respond to market dynamics[53] - The group will continue to seek opportunities to diversify its business scope and enhance overall development[53] - The company provided scaffolding services for 14 ongoing projects during the reporting period, with 26 projects completed on schedule, but did not secure any new contracts[43] Corporate Governance - The board of directors has established an audit committee consisting of three independent non-executive directors to review financial reports[79] - The company has complied with the GEM listing rules regarding the conduct of securities trading by directors during the reporting period[74] - The company has adhered to the corporate governance code as per GEM listing rules, with a clear distinction of roles between the chairman and CEO[77] - There were no arrangements made during the reporting period that would allow directors to benefit from purchasing the company's securities[71] - As of July 31, 2023, the only recorded shareholding by a director was Mr. Su Hongjin, holding 800,000 shares, representing approximately 0.01% of the issued share capital[69] Shareholder and Securities Information - The company did not recommend any dividend payments for the three months ended July 31, 2023, nor for any period since July 31, 2022[39] - There were no purchases, sales, or redemptions of the company's listed securities by the company or its subsidiaries during the reporting period[72] - The company has not established any preferential purchase rights for existing shareholders regarding the issuance of new shares[61] - As of July 31, 2023, there were no stock options granted, exercised, canceled, expired, or unexercised[66] - As of July 31, 2023, the company had no significant management or administrative contracts in place[62]

Financial Performance - For the financial year ended April 30, 2023, the turnover was HK$145,960,000, a decrease of 23.5% from HK$191,027,000 in 2022[25]. - The loss before taxation for the year was HK$105,807,000, compared to a loss of HK$7,519,000 in the previous year[25]. - The attributable loss to the owners of the Company was HK$112,413,000, significantly higher than the loss of HK$10,818,000 in 2022[25]. - The basic and diluted loss per share increased to HK$0.782 from HK$0.075 in the prior year[25]. - The financial highlights indicate a trend of increasing losses over the past four years, with the highest loss recorded in 2023[25]. - The Group recorded a total revenue decrease of approximately HK$146.0 million, representing a decline of about 22.8% compared to the previous year[32]. - Net loss attributable to the owners of the Company from continuing operations was approximately HK$112.4 million, an increase of approximately HK$101.8 million from the last year[32]. - Gross profit decreased by approximately 32.7% to approximately HK$47.8 million, with a gross profit margin dropping to approximately 32.8% from 37.7% in the previous year[103]. - The increase in net loss was primarily due to a rise in net impairment losses of approximately HK$42.8 million related to expected credit losses on loans and interest receivables[101]. Business Operations - The Company emphasizes continuous improvement in "Safety, Quality, and Efficiency" as part of its corporate mission[15]. - The Company aims to enhance business efficiencies and build a solid foundation for future growth[14]. - The report indicates a focus on innovation and breakthroughs as part of the Company's strategy moving forward[27]. - The Group was awarded a total of 2 new construction contracts during the year, down from 13 contracts in the previous year[34]. - The Group provided scaffolding services to 40 ongoing projects, with 25 of these projects completed on schedule[40]. - The Group aims to continue acquiring new contracts in the competitive fitting out services market[46]. - The Group has actively developed the rental business for suspended working platforms, gaining a good reputation in the market[47]. - The Group's construction-related services faced increased competition due to a decrease in new projects approved by the government[80]. Money Lending Business - The Group's money lending business is operated through a wholly-owned subsidiary, with 89 clients as of April 30, 2023[48]. - The money lending business recorded a turnover of approximately HK$42.5 million for the year, a decrease from approximately HK$48.8 million in the previous year[65]. - The usual tenure of loans is between 3 months to 5 years, with interest rates for loans under HK$5,000,000 ranging from 7% to 15%[56]. - Approximately 46% of the Group's net loan and interest receivables were unsecured as of April 30, 2023[65]. - The principal amount of loans in the portfolio ranged from approximately HK$0.1 million to HK$25.0 million, with interest rates from 7.0% to 40.6% per annum[65]. - The net amount of loan and interest receivables due from the largest borrower was approximately HK$20.3 million, representing about 4.6% of the Group's net loan and interest receivables[65]. - The five largest borrowers accounted for less than 21% of the net loan and interest receivables of the Group, all being independent third parties[65]. - The Group's money lending business adjusted its lending criteria to reduce default rates, requiring borrowers to provide asset or income proof[84]. - The money lending business faced challenges, with net impairment losses recognized amounting to approximately HK$84.6 million, up from approximately HK$41.8 million in the previous year[86]. Financial Position - As of April 30, 2023, the Group's equity attributable to the owners was approximately HK$396.1 million, down from approximately HK$509.6 million as of April 30, 2022, representing a decrease of about 22.2%[109]. - The Group's current assets increased to approximately HK$534.5 million as of April 30, 2023, compared to approximately HK$437.2 million as of April 30, 2022, reflecting an increase of about 22.3%[109]. - The total assets of the Group decreased to approximately HK$575.6 million as of April 30, 2023, from approximately HK$703.4 million as of April 30, 2022, indicating a decline of about 18.2%[109]. - The Group had no bank borrowings or overdrafts as of April 30, 2023, compared to approximately HK$8.6 million and HK$10.9 million respectively as of April 30, 2022[110]. - The Group's gearing ratio increased to approximately 31.5% as of April 30, 2023, up from approximately 27.6% as of April 30, 2022[115]. - The net amount of loans and interest receivables was approximately HK$444.4 million as of April 30, 2023, down from approximately HK$486.3 million in 2022, a decrease of about 8.5%[120]. - The allowance for credit losses of loan and interest receivables under the ECL model rose to approximately HK$240.1 million as of April 30, 2023, compared to approximately HK$155.5 million in 2022, an increase of about 54.4%[120]. - The net impairment loss arising from ECL amounted to approximately HK$84.6 million as of April 30, 2023, up from approximately HK$41.8 million in 2022, reflecting an increase of about 102%[120]. Management and Governance - The management team has undergone significant changes in 2022 and 2023, impacting the Group's strategic direction[197]. - Dr. So Yu Shing resigned as Chairman and Executive Director effective May 2, 2023[195]. - Ms. Lai Yuen Mei, Rebecca resigned as Executive Director effective December 19, 2022[196]. - Mr. Kong Kam Wang resigned as Chief Executive Officer and Executive Director effective November 16, 2022[197]. - The Audit Committee held four meetings during the year to review the Group's consolidated financial statements[191]. - The Group employs a prudent treasury policy, financing operations through internally generated resources and flexible fiscal policies to manage assets and liabilities effectively[158]. Risks and Challenges - The Group faces significant risks including labor shortages and competition in the scaffolding and fitting out services sectors, which could adversely affect operations and profitability[164][167]. - The Group is committed to providing a safe and competitive working environment to retain labor and mitigate risks associated with labor shortages[165]. - The Group is exposed to various financial risks, including credit, interest rate, currency, liquidity, and other price risks[171]. - The Group's reliance on information technology systems is critical for operations, inventory management, and financial reporting[173]. Investment and Future Outlook - The Group plans to review its asset structure and business strategies to adapt to economic uncertainties and enhance competitiveness in the scaffolding business[95]. - The Group aims to focus on high-margin business segments, particularly in money lending operations, to improve financial returns for shareholders[95]. - The Directors anticipate that the upward trend in the Hong Kong stock market will continue into 2023 and 2024, potentially enhancing the performance of the Group's securities investments[152]. - The performance of the Group's securities investments will depend on the financial and operational performance of investee companies and market sentiment, influenced by interest rate movements, high inflation, and macroeconomic performance[152].

Financial Performance - The company's revenue for the nine months ended January 31, 2023, was approximately HKD 115.6 million, a decrease of about 24.4% compared to HKD 153 million in the same period of 2022[13]. - The net loss attributable to shareholders from continuing operations was approximately HKD 37.9 million, compared to a net profit of HKD 27.2 million in the same period of 2022[13]. - The gross profit decreased by approximately HKD 27.8 million compared to the same period in 2022[13]. - The revenue from the sale of subsidiaries decreased significantly by approximately HKD 29.1 million compared to the same period in 2022[13]. - The total comprehensive loss for the nine months ended January 31, 2023, was HKD 39,561,000, compared to a total comprehensive income of HKD 25,017,000 in the previous year[38]. - The basic and diluted loss per share from continuing operations was HKD 16,708, compared to a loss of HKD 714 in the same period last year[29]. - The basic loss per share for continuing operations for the nine months ended January 31, 2023, was HKD 0.264, compared to earnings of HKD 0.182 in the previous year[38]. - For the three months ended January 31, 2023, the revenue from continuing operations was HKD 30,555,000, a decrease of 39.6% compared to HKD 50,695,000 for the same period in 2022[35]. - The gross profit for the nine months ended January 31, 2023, was HKD 34,321,000, down 44.9% from HKD 62,085,000 in the previous year[35]. - The loss from continuing operations for the three months ended January 31, 2023, was HKD 16,708,000, compared to a profit of HKD 714,000 in the same period of 2022[36]. - The asset management business reported revenue of approximately HKD 176,000, a decrease from HKD 1.7 million in the same period last year[23]. - The company reported other income of HKD 2,636,000 for the nine months ended January 31, 2023, significantly higher than HKD 588,000 in the previous year[35]. - The company did not report any gains from the sale of subsidiaries for the three months ended January 31, 2023, compared to HKD 29,261,000 in the previous year[35]. - The company recognized a loss of HKD 16,297,000 from financial assets measured at fair value for the three months ended January 31, 2023, compared to a loss of HKD 7,783,000 in the same period last year[84]. - The company received government grants totaling HKD 2,014,000 for the nine months ended January 31, 2023, compared to HKD 26,000 in the same period last year[82]. Revenue Sources - The decrease in revenue was primarily due to reduced contract income from scaffolding and renovation services, as well as decreased income from the lending business[13]. - The lending business continues to be a stable source of income for the company[13]. - The scaffolding services segment generated revenue of approximately HKD 82.7 million, a significant decrease of HKD 29.2 million compared to the same period in 2022, primarily due to operational restrictions related to COVID-19[14]. - The lending business recorded revenue of approximately HKD 32.9 million, down from HKD 41 million in the same period last year, with loan principal amounts ranging from HKD 200,000 to HKD 25 million and interest rates between 7.0% and 36.0%[20]. - Revenue from customer contracts for scaffolding, fit-out, and other ancillary services was HKD 20,371,000 for the three months ended January 31, 2023, down from HKD 37,293,000 in the same period last year, representing a decline of 45.5%[55]. - Interest income for the nine months ended January 31, 2023, was HKD 32,904,000, compared to HKD 41,045,000 for the same period in 2022, reflecting a decrease of 19.9%[55]. Cost Management - The company is committed to strict cost control policies to respond to market dynamics and enhance financial returns for shareholders[10]. - The group faced a shortage of skilled labor, leading to increased labor costs and decreased profit margins in the scaffolding industry[15]. - Operating and administrative expenses for the three months ended January 31, 2023, were HKD 6,747,000, a decrease of 33.3% from HKD 10,102,000 in the same period of 2022[35]. - Financing costs for the nine months ended January 31, 2023, were HKD 5,502,000, down 14.3% from HKD 6,424,000 in the previous year[35]. - Operating and administrative expenses decreased from approximately HKD 30,200,000 to about HKD 26,000,000 due to reduced employee costs compared to the same period last year[114]. - Financing costs decreased from approximately HKD 6,400,000 to about HKD 5,500,000 primarily due to debt repayment[114]. Strategic Initiatives - The company is reviewing its current asset structure and business strategy to adapt to future uncertainties[10]. - The company plans to seek opportunities to revitalize its scaffolding business in response to declining trends in bamboo scaffolding usage[10]. - The company is actively exploring suitable investment opportunities to diversify its business scope and drive overall development[101]. - The group provided scaffolding services for 54 ongoing projects, with 25 completed on schedule and secured 4 new contracts during the reporting period[17]. - The group’s patented scaffolding system "Pili" has significantly improved efficiency and reduced labor requirements in the industry[15]. Corporate Governance - The company emphasizes corporate governance principles, focusing on board quality and robust internal controls to enhance accountability and transparency[137]. - The audit committee, consisting of three independent non-executive directors, is responsible for reviewing the company's annual and interim reports, ensuring compliance with applicable accounting standards and legal requirements[138]. - The company has adopted the GEM listing rules regarding directors' securities transactions, ensuring adherence to trading conduct standards[125]. - The company has maintained the required public float as per GEM listing rules, ensuring compliance with regulations[136]. - There were no significant contracts involving directors with material interests as of January 31, 2023[121]. - No directors or major shareholders have interests in businesses that directly or indirectly compete with the company's operations during the reporting period[135]. Shareholder Returns - No dividends were declared or proposed for the nine-month period ending January 31, 2023[26]. - The company confirmed a total of HKD 205,000,000 in gains from the sale of subsidiaries, with cash inflow netting HKD 409,000[85]. - The net cash inflow from the sale of subsidiaries was HKD 530,000,000, with a net asset value of HKD 325,000,000 for the period[61]. - Cash inflow from the sale during the period was HKD 76,038,000, with related loan income of HKD 2,000,000, and a prior year deposit of HKD 7,588,000[88].

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佈之內容概不負責，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佈全部或任何部分內容而產生或因依賴該等內容而引 致之任何損失承擔任何責任。 WLS Holdings Limited 滙隆控股有限公司* （於開曼群島註冊成立並於百慕達存續之有限公司） （股份代號：8021） 截至二零二三年一月三十一日止九個月之第三季度業績公佈 滙隆控股有限公司（「本公司」）董事（「董事」）會公佈，本公司及其附屬公司截至二零二三年一月 三十一日止九個月之未經審核簡明綜合財務業績。本公佈載有本公司二零二二╱二零二三年第三季度 報告全文，符合聯交所GEM證券上市規則（「GEM上市規則」）中有關第三季度業績初步公佈附載資料 之相關要求。本公司二零二二╱二零二三年第三季度報告的印刷本將適時寄發予本公司股東並按GEM 上市規則規定之方式於聯交所網站www.hkexnews.hk及本公司網站www.wls.com.hk登載以供查閱。 代表董事會 滙隆控股有限公司 主席 蘇汝成 香港，二零二三年三月十七日 – 1 – * 僅供識別 於本公佈日期，董事會包括蘇汝成博士（主席兼執 ...

Financial Performance - For the three months ended October 31, 2022, the company reported revenue of HKD 41,786 thousand, a decrease of 17% compared to HKD 50,286 thousand in the same period of 2021[5]. - The gross profit for the six months ended October 31, 2022, was HKD 24,718 thousand, down 41% from HKD 41,955 thousand in the previous year[5]. - The total revenue for the six months ended October 31, 2022, was HKD 85,051 thousand, down 17% from HKD 102,274 thousand in the same period of 2021[5]. - Revenue from scaffolding, renovation, and other ancillary services for the six months ended October 31, 2022, was HKD 62,331, down from HKD 74,631 in the previous year, representing a decline of 16.5%[41]. - The group reported a net loss before tax of HKD 20,334 for the six months ended October 31, 2022, compared to a profit of HKD 28,357 for the same period in 2021[45]. - The group recognized a net impairment loss of HKD 27,088 due to expected credit losses for the six months ended October 31, 2022[45]. - The company reported a net cash outflow from operating activities of HKD 1,060 thousand, compared to an outflow of HKD 29,276 thousand in the previous year[31]. - The basic loss per share for the three months ended October 31, 2022, was HKD 0.108, compared to HKD 0.111 in the same period of 2021[17]. - The total loss attributable to shareholders from continuing operations for the six months ended October 31, 2022, was HKD (21,209), a significant decline from HKD 27,901 in the same period of 2021, indicating a decrease of 76.1%[72]. Assets and Liabilities - As of October 31, 2022, total assets decreased to HKD 540,605 thousand from HKD 437,184 thousand as of April 30, 2022, reflecting a 23.6% increase[19]. - Non-current assets decreased to HKD 143,963 thousand from HKD 266,190 thousand, a decline of 46.0%[19]. - Current assets increased significantly to HKD 540,605 thousand, up 23.6% from HKD 437,184 thousand[19]. - Total liabilities increased to HKD 198,822 thousand from HKD 194,908 thousand, a rise of 2.0%[19]. - The company’s equity attributable to owners decreased to HKD 487,187 thousand from HKD 509,638 thousand, a decrease of 4.4%[25]. - The company’s total equity as of October 31, 2022, was HKD 480,094 thousand, down from HKD 502,545 thousand, reflecting a decrease of 4.5%[26]. - The total accounts payable and other payables as of October 31, 2022, was HKD 38,165, an increase from HKD 33,130 as of April 30, 2022, indicating a rise of 15.4%[87]. Cash Flow and Financing - Cash and cash equivalents decreased to HKD 22,930 thousand from HKD 6,746 thousand, indicating a decline of 239.5%[33]. - Financing costs for the six months ended October 31, 2022, were HKD 3,678 thousand, down from HKD 4,450 thousand in the previous year, indicating a 17% reduction[5]. - The group’s financing costs decreased from approximately HKD 4.5 million to about HKD 3.7 million due to the repayment of certain borrowings[121]. - The group had no bank borrowings as of October 31, 2022, down from approximately HKD 8,600,000 as of April 30, 2022[128]. Operational Highlights - The group has three operating segments: scaffolding and renovation services, lending business, and securities investment business, each requiring different management strategies[42]. - The scaffolding and finishing services segment generated revenue of approximately HKD 62.3 million, a significant decrease of about HKD 12.3 million due to reduced new construction projects approved by the Hong Kong government[104]. - The lending business recorded revenue of approximately HKD 22.7 million, down from HKD 27.6 million in the same period of 2021, as stricter lending criteria were implemented[109]. - The company continues to face challenges in the scaffolding industry due to a shortage of skilled labor, leading to increased labor costs and decreased profit margins[105]. Corporate Governance and Compliance - The audit committee, composed of three independent non-executive directors, has reviewed the unaudited interim results for the six months ended October 31, 2022, and found them compliant with applicable accounting standards and GEM listing rules[152]. - The company has adhered to the corporate governance principles emphasizing board quality and robust internal controls throughout the reporting period[151]. - The company has maintained the required public float according to GEM listing rules as of the report date[149]. Shareholder Information - No dividends were declared or proposed for the interim period[69]. - The total issued and paid-up share capital as of October 31, 2022, was HKD 143,670,000, with 14,367,101,072 shares issued at a par value of HKD 0.01[30]. - The company adopted a share option scheme on October 22, 2021, allowing the board to invite employees and consultants to subscribe for shares as an incentive[132]. - No share options were granted, exercised, cancelled, or lapsed as of October 31, 2022[135].

Financial Performance - For the three months ended July 31, 2022, the company reported a revenue of HKD 43,441,000, a decrease of 17.5% compared to HKD 52,670,000 in the same period last year[6]. - The gross profit for the same period was HKD 15,792,000, down 21.6% from HKD 20,130,000 year-on-year[6]. - The company incurred a loss attributable to shareholders of HKD 5,801,000, compared to a profit of HKD 44,083,000 in the previous year, marking a significant decline[6]. - The company reported a loss before tax of HKD 5,172,000, compared to a profit before tax of HKD 45,769,000 in the same period last year[6]. - Total comprehensive loss for the period was HKD 6,607,000, compared to a total comprehensive income of HKD 44,199,000 in the previous year[9]. - Revenue from customer contracts for scaffolding, fit-out, and other ancillary services was HKD 30,239,000, down from HKD 38,920,000 in the previous year[36]. - The group experienced a significant increase in fair value losses and disposal losses from its securities investment portfolio, amounting to an increase of approximately HKD 14,900,000 compared to the previous year[36]. - The group’s gross profit decreased by approximately HKD 4,300,000 compared to the same period last year[36]. - The company reported a significant decrease in rental income, with no rental income recorded for the current period compared to HKD 67,000 in the previous year[21]. - The asset management business generated revenue of approximately HKD 176,000, a significant decrease from HKD 683,000 in the same period last year[45]. - The lending business recorded revenue of approximately HKD 13,000,000, slightly down from HKD 13,100,000 in the same period last year, with loan amounts ranging from HKD 200,000 to HKD 25,000,000 and interest rates between 7.0% and 40.5%[42]. Expenses and Costs - The operating and administrative expenses were HKD 8,329,000, slightly reduced from HKD 9,328,000 in the previous year[6]. - The company’s financing costs decreased to HKD 1,862,000 from HKD 2,372,000, reflecting improved cost management[6]. - The group’s financing costs for the three months ended July 31, 2022, were HKD 1,862,000, down from HKD 2,372,000 in the previous year[32]. - Operating and administrative expenses reduced from approximately HKD 9,300,000 to about HKD 8,300,000, primarily due to decreased employee costs[51]. - Financing costs decreased from approximately HKD 2,400,000 to about HKD 1,900,000[51]. Strategic Direction and Business Focus - The company continues to focus on its core business areas, including scaffolding, fit-out services, and asset management, as part of its strategic direction[16]. - The group plans to adjust its asset structure and business strategy to enhance resource flexibility in response to economic uncertainties and challenges[50]. - The group aims to revitalize its scaffolding business by focusing on trends such as the decline in bamboo scaffolding usage and increasing competitiveness[50]. - The group will continue to emphasize high-margin and growth-potential business segments, such as the lending business, while adhering to strict cost control policies[50]. - The group is exploring suitable investment opportunities to diversify its business scope and drive overall development[50]. - The group has noted a shift in contractor preferences from bamboo scaffolding to metal scaffolding due to durability and reduced training time for workers[50]. Corporate Governance and Compliance - The financial statements are prepared in accordance with Hong Kong Financial Reporting Standards, ensuring compliance with applicable regulations[18]. - The company has established a clear audit committee under the board, consisting of three independent non-executive directors, to review financial reports and internal control procedures[78]. - The company has complied with the corporate governance code as outlined in the GEM Listing Rules during the first quarter[77]. - The company has ensured transparency and accountability through strict corporate governance practices, enhancing shareholder and public confidence[77]. - The audit committee reviewed the unaudited condensed consolidated first-quarter results for the three months ending July 31, 2022, and found them compliant with applicable accounting standards and legal requirements[78]. Shareholder Information - The company did not recommend any dividend distribution for the three months ended July 31, 2022[34]. - As of July 31, 2022, the group's equity was approximately HKD 503,000,000, down from HKD 509,600,000 as of April 30, 2022[52]. - Instant Victory Global Limited agreed to sell 1,000 shares of its subsidiary, representing 37.5%, 37.5%, and 25.0% of the total issued share capital, for a total consideration of approximately HKD 530,000[55][56]. - The sale was completed on August 8, 2022, with control transferred to the buyers on the same date[56]. - The company has not experienced any significant events affecting its operations since July 31, 2022[57]. - The 2021 share option plan allows for the issuance of shares up to 30% of the company's issued share capital[58]. - No share options were granted, exercised, canceled, or lapsed as of April 30, 2022[62]. - As of July 31, 2022, the company had a total of 3,320,000 shares held by Dr. Su Ru Cheng, representing approximately 0.05% of the issued share capital[69]. - The company did not establish any arrangements that would allow directors to benefit from purchasing shares or bonds of the company during the reporting period[71]. - No shares or related securities were purchased, sold, or redeemed by the company or its subsidiaries during the three months ending July 31, 2022[72]. - The company has adhered to the GEM Listing Rules regarding the conduct of securities trading by directors during the reporting period[73]. - The company maintains sufficient public float as per the GEM Listing Rules as of the report date[76]. - There were no known interests held by directors or major shareholders in any business that directly or indirectly competes with the company during the reporting period[75].

Financial Results - The company reported its audited consolidated results for the fiscal year ending April 30, 2022[3]. Corporate Governance - The board emphasizes the importance of corporate governance principles, focusing on board quality and robust internal controls[5]. - The company has adhered to the GEM Listing Rules Appendix 15 throughout the fiscal year 2022[5]. - The board members include the chairman and executive directors, ensuring accountability and transparency[7]. - The company aims to enhance shareholder and public confidence through strict corporate governance practices[5]. Public Disclosure - The announcement will be available on the Hong Kong Stock Exchange website for at least seven days[7].

Financial Performance - The company reported a significant increase in revenue, achieving a total of $XX million, representing a YY% growth compared to the previous year[9]. - The Group recorded a total revenue increase of approximately HK$191.0 million for the year ended 30 April 2022, representing a growth of approximately 27.2% compared to the previous year[49]. - The net loss attributable to the owners of the Company from continuing operations was approximately HK$10.8 million, a significant decrease of approximately 21.3% from the previous year[49]. - Gross profit slightly decreased by approximately 0.02% to approximately HK$72.0 million, with a gross profit margin declining to approximately 37.7% from approximately 48.0%[106]. - Operating and administrative expenses increased from approximately HK$42.7 million to approximately HK$49.8 million due to rising staff costs[107]. User and Market Growth - User data showed an increase in active users, reaching ZZ thousand, which is an increase of AA% year-over-year[11]. - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of BB%[10]. - Market expansion plans include entering the EE market, which is anticipated to increase market share by FF%[11]. - The Group anticipates a shortage of about 10,000 to 15,000 skilled workers in the construction industry, which may impact operations[42]. Product and Service Development - New product launches are expected to contribute an additional $CC million in revenue, enhancing the overall product portfolio[11]. - The Group plans to promote the use of the "Pik Lik" scaffolding system to enhance efficiency and increase market share[42]. - The Group has expanded its fitting out services to include ceiling work, receiving encouraging client feedback despite intense competition[66]. - The Group's patented scaffolding system "Pik-Lik" significantly enhances efficiency and reduces manpower requirements in the industry[56]. Strategic Initiatives - The company is considering strategic acquisitions to bolster its market position, with potential targets identified[11]. - The Group is actively reviewing its asset structure and business strategies to adapt to current economic uncertainties[95]. - The Group aims to diversify its business portfolio to mitigate risks from the competitive construction market[93]. - The Group plans to revitalize its scaffolding business and focus on segments with higher profit margins, such as money lending operations[98]. Financial Management and Risks - The Group's gearing ratio as of April 30, 2022, was approximately 26.7%, down from approximately 28.8% the previous year[115]. - The Group is exposed to various financial risks, including credit, interest rate, and liquidity risks, which are actively managed to maintain a sound capital structure[180][181]. - The allowance for credit losses of loan and interest receivables under the ECL model was approximately HK$155.5 million, up from approximately HK$126.2 million in 2021, indicating a significant increase in credit risk assessment[123]. - The Group employs a scoring system to assess the credit risk of borrowers, considering factors such as overdue amounts and changes in interest rates[136]. Operational Efficiency - Operational efficiency improvements are projected to reduce costs by GG%, enhancing overall profitability[11]. - The Group's focus on acquiring new contracts remains strong in the competitive fitting out services market[66]. - The Group's scaffolding services are recognized as a leading offering in Hong Kong, contributing to its market position[57]. - The Group faces significant risks including labor shortages, which could increase staff and subcontracting costs, adversely affecting profitability[172]. Corporate Governance - The board of directors confirmed that all financial statements are accurate and complete, ensuring transparency for investors[6]. - The Audit Committee held four meetings during the year to review the financial reporting process and risk management systems[196]. - The Group's management emphasizes the importance of internal controls and financial reporting oversight through the Audit Committee[196]. Future Outlook - The Group remains cautiously optimistic about future prospects while being aware of economic uncertainties due to the COVID-19 pandemic[42]. - The Board expects the upward trend of the Hong Kong stock market to continue in 2022 and 2023, which may enhance the performance of the Group's securities investments[158].