香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何 部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 Kwong Man Kee Group Limited 鄺 文 記 集 團 有 限 公 司 （於開曼群島註冊成立之有限公司） （股票代號：8023） 截至二零二三年三月三十一日止年度之 全年業績公佈 鄺文記集團有限公司（「本公司」，連同其附屬公司統稱「本集團」）之董事（「董事」） 會（「董事會」）欣然公佈本集團截至二零二三年三月三十一日止年度之經審核綜合 財務業績。本公告列載本公司2022/23年度業績報告之全文，並符合香港聯合交易 所有限公司之GEM證券上市規則（「GEM上市規則」）有關年度業績初步公佈隨載 的資料要求。本公司2022/23年度業績報告的印刷版本將於適當時候按照GEM上市 規則所規定的方式寄發予本公司股東，並將可在香港聯合交易所有限公司網站 www.hkexnews.hk 及本公司的網站www.kmk.com.hk 閱覽。 承董事會命 鄺文記集團有限公司 鄺志文先生 主席兼執行董事 香港 ...

Financial Performance - The Group's revenue increased by approximately 68.3%, from approximately HK$76.8 million for the nine months ended December 31, 2021, to approximately HK$129.2 million for the same period in 2022[9]. - The Group's gross profit rose by approximately 55.8%, from approximately HK$26.6 million for the nine months ended December 31, 2021, to approximately HK$41.4 million for the same period in 2022, with a gross profit margin decrease from approximately 34.6% to approximately 32.0%[9]. - The Group's profit surged by approximately 264.1%, from approximately HK$4.3 million for the nine months ended December 31, 2021, to approximately HK$15.8 million for the same period in 2022[9]. - The operating profit for the nine months ended December 31, 2022, was approximately HK$19.9 million, compared to approximately HK$5.8 million for the same period in 2021[12]. - The profit before income tax for the nine months ended December 31, 2022, was approximately HK$19.0 million, up from approximately HK$5.6 million for the same period in 2021[12]. - The Group reported an income tax expense of approximately HK$3.2 million for the nine months ended December 31, 2022, compared to approximately HK$1.2 million for the same period in 2021[12]. - For the nine months ended December 31, 2022, the profit attributable to owners of the Company was HK$15,420,503, a significant increase from HK$4,411,544 in the same period of 2021, representing a growth of approximately 249%[13]. - The total comprehensive income for the period was HK$15,849,864, compared to HK$4,347,685 for the same period in 2021, indicating an increase of about 265%[13]. - Basic and diluted earnings per share for the nine months ended December 31, 2022, were HK$0.07, up from HK$0.74 in the previous year[13]. Revenue Sources - Revenue from customers located in Hong Kong was HK$128,445,409, up from HK$71,324,853 in 2021, indicating an increase of 80.1%[31]. - The Group's revenue from ancillary services for the nine months ended December 31, 2022, was HK$19,849,347, a significant increase of 130.0% compared to HK$8,641,711 in 2021[30]. - The Group's revenue recognition for the nine months ended December 31, 2022, included HK$128,950,778 recognized over time, compared to HK$75,733,451 in 2021, marking an increase of 70.2%[30]. Expenses and Costs - The Group's cost of sales increased from approximately HK$50.2 million for the nine months ended December 31, 2021, to approximately HK$87.8 million for the same period in 2022[12]. - The Group's general and administrative expenses increased from approximately HK$17.5 million for the nine months ended December 31, 2021, to approximately HK$22.4 million for the same period in 2022[12]. - The cost of materials used increased significantly to approximately HK$47.9 million for the nine months ended December 31, 2022, compared to HK$22.9 million for the same period in 2021[50]. - Employee benefit expenses rose to approximately HK$17.3 million for the nine months ended December 31, 2022, up from HK$13.9 million for the same period in 2021[50]. - Subcontractor costs increased to approximately HK$34.6 million for the nine months ended December 31, 2022, compared to HK$22.5 million for the same period in 2021[50]. Dividends and Retained Earnings - The Board does not recommend the payment of an interim dividend for the nine months ended December 31, 2022, consistent with the previous year[9]. - The Company declared a dividend of HK$3,000,000 during the nine months ended December 31, 2022[15]. - The balance of retained earnings as of December 31, 2022, was HK$47,255,586, an increase from HK$31,782,979 as of December 31, 2021, representing a growth of approximately 48%[15]. Challenges and Future Outlook - The Group is facing challenges such as increasing operating costs, keen competition in the car park flooring market, and economic uncertainty due to geopolitical tensions and global inflation, which may affect future financial performance[74]. - The Directors are actively seeking alternative business opportunities to broaden income sources while continuing to focus on expanding existing business in the car park flooring and waterproofing sectors[79]. Corporate Governance and Compliance - The company has complied with the Corporate Governance Code principles for the nine months ended December 31, 2022[103]. - The Audit Committee has reviewed the unaudited condensed consolidated financial results for the nine months ended December 31, 2022[117]. - The company has established an Audit Committee to oversee internal control and risk management systems[116]. - There are no competing interests from directors or controlling shareholders that could potentially compete with the company's business as of December 31, 2022[102]. Shareholding and Management - As of December 31, 2022, Mr. Yip Kong Lok holds 3,000 shares in Sage City, representing a 30% interest[93]. - Sage City has a beneficial interest of 392,886,000 shares, accounting for approximately 65.48% of the total shareholding[99]. - The chairman and executive director of the company is Kwan Chi Man[119]. - The executive directors include Kwan Chi Man and Yip Kong Lok, while independent non-executive directors include Yu Yunhua, Luo Peichang, and Kwan Hsiu Hsin[119].

Revenue and Profit Growth - The Group's revenue increased from approximately HK$51.7 million for the six months ended 30 September 2021 to approximately HK$92.9 million for the same period in 2022, representing an increase of approximately 79.7%[10]. - The Group's profit increased by approximately 279.7%, from approximately HK$4.0 million for the six months ended 30 September 2021 to approximately HK$15.2 million for the same period in 2022[10]. - The Group's gross profit rose by approximately 80.0%, from approximately HK$17.9 million for the six months ended 30 September 2021 to approximately HK$32.2 million for the same period in 2022[10]. - The Group's total revenue for the three months ended September 30, 2022, was HK$49,075,788, compared to HK$20,725,469 in 2021, indicating a growth of approximately 136.0%[89]. - Profit attributable to owners of the Company for the six months ended September 30, 2022, is HK$38,000,000, representing an increase from HK$2,700,000 in 2021, resulting in a basic earnings per share of 2.52 HK cents, up from 0.67 HK cents[108]. Financial Performance Metrics - The gross profit margin for the six months ended 30 September 2021 and 2022 was approximately 34.6%[10]. - Operating profit for the six months ended 30 September 2022 was approximately HK$18.8 million, compared to approximately HK$4.9 million for the same period in 2021[13]. - Profit before income tax for the six months ended 30 September 2022 was approximately HK$18.0 million, compared to approximately HK$4.7 million for the same period in 2021[13]. - The Company reported a total comprehensive income of HK$15,239,439 for the six months ended September 30, 2022, compared to HK$4,009,113 for the same period in 2021[16]. - The estimated average annual income tax rate for the six months ended September 30, 2022, was approximately 15.6%, compared to 14.8% in 2021[101]. Assets and Liabilities - Total assets as of September 30, 2022, amounted to HK$178,055,793, an increase from HK$149,801,514 as of March 31, 2022[19]. - Total liabilities as of September 30, 2022, were HK$60,999,918, compared to HK$47,985,078 as of March 31, 2022[22]. - Current assets increased to HK$128,030,705 as of September 30, 2022, compared to HK$105,008,560 as of March 31, 2022[19]. - The Group's bank borrowings increased to HK$18,080,257 as of 30 September 2022 from HK$15,090,311 as of 31 March 2022, marking a 13.2% increase[146]. - The gearing ratio as of 30 September 2022 was approximately 13.9%, calculated based on total interest-bearing borrowings divided by total capital of approximately HK$136.0 million[199]. Cash Flow and Investments - Net cash generated from operating activities for the six months ended 30 September 2022 was HK$8,209,236, compared to HK$8,790,630 for the same period in 2021, representing a decrease of approximately 6.6%[28]. - The company reported a net increase in cash and cash equivalents of HK$6,411,715 for the six months ended 30 September 2022, compared to an increase of HK$4,031,660 in 2021, marking an increase of about 59.3%[28]. - The total cash and cash equivalents at the end of the period was HK$30,337,236, down from HK$38,592,070 at the end of the same period in 2021, reflecting a decrease of approximately 21.5%[28]. - The company paid income taxes amounting to HK$1,090,044 during the six months ended 30 September 2022, whereas no income taxes were reported for the same period in 2021[28]. - The change in cash surrender value of investments in an insurance contract for the six months ended September 30, 2022, was HK$1,559,039, compared to HK$195,776 in 2021[97]. Dividend and Retained Earnings - The Board does not recommend the payment of an interim dividend for the six months ended 30 September 2022, consistent with the previous year[10]. - The Company’s retained earnings increased to HK$49,544,121 as of September 30, 2022, from HK$34,885,083 as of April 1, 2022[25]. Operational Costs - The cost of sales for the six months ended 30 September 2022 was approximately HK$60.8 million, compared to approximately HK$33.8 million for the same period in 2021[13]. - Employee benefit expenses increased to HK$5,663,835 for the three months ended September 30, 2022, compared to HK$5,049,175 for the same period in 2021[154]. - General and administrative expenses increased by approximately HK$3.2 million from approximately HK$11.5 million for the six months ended 30 September 2021 to approximately HK$14.7 million for the six months ended 30 September 2022[179][181]. Trade and Receivables - Trade receivables as of September 30, 2022, amount to HK$58,434,568, an increase from HK$36,966,621 as of March 31, 2022[126]. - The net amount of trade and retention receivables as of September 30, 2022, is HK$69,300,620, up from HK$45,319,466 as of March 31, 2022[126]. - The provision for impairment of trade and retention receivables is HK$7,535,939 as of September 30, 2022, compared to HK$6,949,490 as of March 31, 2022[126]. Other Financial Information - The Group's financial assets measured at fair value through profit or loss as of September 30, 2022, totaled HK$6,289,600, with no transfers between Level 1, Level 2, and Level 3 financial assets during the six months[73][74]. - The Group's financial instruments that are not traded in an active market are valued using techniques that maximize the use of observable market data, with significant inputs categorized into Level 2 and Level 3[76][78].

Financial Performance - The Group's revenue increased by 41.6% from approximately HK$31.0 million for the three months ended June 30, 2021, to approximately HK$43.9 million for the same period in 2022[10]. - Gross profit rose by 27.3% from approximately HK$11.8 million in Q1 2021 to approximately HK$15.0 million in Q1 2022, while the gross profit margin decreased from 38.0% to 34.2%[10]. - Profit for the period increased from approximately HK$3.8 million in Q1 2021 to approximately HK$5.7 million in Q1 2022[10]. - Other income and gains increased significantly from HK$82,440 in Q1 2021 to HK$299,301 in Q1 2022[14]. - Operating profit increased from HK$4.6 million in Q1 2021 to HK$7.4 million in Q1 2022[14]. - Earnings per share attributable to owners of the Company increased from 0.62 HK cents to 0.93 HK cents[15]. - Total comprehensive income for the period rose from approximately HK$3.78 million in Q1 2021 to approximately HK$5.67 million in Q1 2022[15]. - The Group's profit before income tax increased from approximately HK$4.49 million in Q1 2021 to approximately HK$7.04 million in Q1 2022[14]. - For the three months ended June 30, 2022, the total revenue was HK$43,868,184, an increase of 42.5% compared to HK$30,987,643 in the same period of 2021[34]. - Revenue from flooring services was HK$38,847,394, up from HK$27,382,406, representing a growth of 42.1% year-over-year[34]. - Ancillary services generated revenue of HK$4,973,890, which is a 54.8% increase from HK$3,213,042 in the previous year[34]. - The total comprehensive income for the period was HK$5,616,888, compared to a loss of HK$5,604 in the previous year[34]. - The profit attributable to owners of the Company increased from approximately HK$3.7 million for the three months ended June 30, 2021, to approximately HK$5.6 million for the same period in 2022[70]. - The Group's gross profit increased by 27.3% from approximately HK$11.8 million for the three months ended June 30, 2021, to approximately HK$15.0 million for the same period in 2022[75]. - The gross profit margin decreased from 38.0% for the three months ended June 30, 2021, to 34.2% for the same period in 2022[75]. - Other income and other gains, net increased from approximately HK$82,000 for the three months ended June 30, 2021, to approximately HK$299,000 for the same period in 2022[76]. Expenses and Costs - The Group's cost of materials used increased to HK$15.6 million for the three months ended June 30, 2022, from HK$9.7 million in 2021[58]. - Subcontractor costs rose to HK$11.4 million for the three months ended June 30, 2022, compared to HK$8.0 million in 2021[58]. - Employee benefit expenses increased to HK$5.8 million for the three months ended June 30, 2022, from HK$4.2 million in 2021[58]. - General and administrative expenses increased by approximately HK$1,800,000 from approximately HK$5,300,000 to approximately HK$7,000,000, primarily due to higher staff salaries[83]. - Income tax expense rose from approximately HK$699,000 to approximately HK$1,400,000, reflecting an increase in profit before tax from approximately HK$4,500,000 to approximately HK$7,000,000[89]. Dividend and Shareholder Information - The Board does not recommend the payment of an interim dividend for the three months ended June 30, 2022[10]. - The Board does not recommend the payment of an interim dividend for the three months ended 30 June 2022, compared to Nil in 2021[138]. - As of June 30, 2022, Mr. Kwong holds 392,886,000 shares, representing a 65.48% shareholding in the Company through Sage City[110]. - Mr. Yip holds 3,000 shares in Sage City, which accounts for 30% of the shares in that company[111]. - The Company has no other directors or executives with interests or short positions in shares or debentures that need to be disclosed as of June 30, 2022[113]. - Sage City is owned 70% by Mr. Kwong and 30% by Mr. Yip, with Mr. Kwong serving as chairman and executive director of the Company[121]. - Mrs. Kwong is deemed to be interested in all shares held by Mr. Kwong for the purposes of the SFO[126]. Corporate Governance and Compliance - The Company has complied with the Corporate Governance Code principles for the three months ended June 30, 2022[131]. - The Company has adopted a code of conduct for securities transactions by directors, confirming compliance during the reporting period[132]. - There were no competing interests from directors or controlling shareholders during the three months ended June 30, 2022[123]. - The Company has not disclosed any related party transactions during the reporting period[144]. - The Audit Committee has reviewed the Group's unaudited condensed consolidated financial results for the three months ended 30 June 2022[143]. - The Company established an Audit Committee on 24 September 2016 to oversee internal control and risk management systems[142]. Business Environment and Strategy - The business environment is expected to remain challenging due to rising operating costs and competition in the car park flooring market[97]. - The Group aims to diversify income sources and expand its existing business in car park flooring and waterproofing sectors[98]. Other Information - As of June 30, 2022, the Group had no significant contingent liabilities[100]. - The Group's financial information is prepared in accordance with Hong Kong Financial Reporting Standards (HKFRSs) and has been reviewed by the audit committee[26]. - The company has not early adopted any new and revised HKFRSs that have been issued but are not yet effective for the current accounting period[29]. - The report was issued on 5 August 2022[146].

Financial Performance - The company reported a strong performance in the car park flooring industry, focusing on mid to high-end projects in Hong Kong and Macau[18]. - Revenue from flooring services, proprietary floor coating products, and ancillary services contributed significantly to the overall financial results[18]. - Revenue from the Hong Kong market for the year ended 31 March 2022 was approximately HK$105.0 million, a slight decline from HK$108.4 million in 2021[19]. - Revenue from the Macau market decreased to approximately HK$5.5 million, down from HK$10.5 million in 2021, primarily due to COVID-19 restrictions impacting tourism[19]. - For the year ended March 31, 2022, the Group recorded total revenue of approximately HK$110.4 million, a decrease of 7.1% compared to approximately HK$118.9 million for the year ended March 31, 2021[54]. - The Group's net profit decreased significantly from approximately HK$15.4 million for the year ended March 31, 2021, to approximately HK$7.4 million for the year ended March 31, 2022[55]. - The gross profit decreased by 14.5% from approximately HK$41.8 million for the year ended March 31, 2021, to approximately HK$35.7 million for the year ended March 31, 2022, with the gross profit margin declining from 35.1% to 32.4%[62]. - Other income and gains decreased significantly by approximately HK$1.1 million to approximately HK$418,000 for the year ended March 31, 2022, with no government subsidies received during that period[62]. Market Challenges - The overall economic environment in Macau has led to most main contractors and property developers postponing or suspending construction projects[19]. - The company anticipates a challenging business environment in the coming years due to competition in the car park flooring market and the economic impact of COVID-19[20]. - The decline in revenue from the Macau market was attributed to economic setbacks due to COVID-19, leading to postponed or suspended construction projects by major contractors and property developers[54]. - The economic conditions in Macau have severely impacted the tourism and gambling sectors, which are crucial for the local economy[54]. - The decrease in revenue was mainly attributed to the adverse economic environment in Macau, affecting construction and renovation projects[57]. Strategic Initiatives - The company aims to expand its market presence and enhance its service offerings in the coming years[18]. - The Group plans to continue expanding its existing business in the car park flooring and waterproofing sectors to strengthen its income stream[21]. - The company is actively seeking alternative business opportunities to diversify income sources and mitigate risks[21]. Corporate Governance - The Company has complied with the principles and applicable code provisions of the Corporate Governance Code for the year ended March 31, 2022[85]. - The Board is responsible for directing and supervising the Company's affairs, focusing on financial performance and overall strategies[91]. - The Board consists of three independent non-executive directors, representing at least one-third of the Board, ensuring independent judgment[101]. - The Company has taken out director and officer liability insurance to cover liabilities arising from legal action against the Directors[96]. - The Board has reviewed and discussed the corporate governance policies and compliance with the CG Code for the year ended March 31, 2022[113]. Human Resources - As of March 31, 2022, the Group had 45 employees, an increase from 37 employees in 2021, with total employee costs approximately HK$19.6 million, up from HK$16.0 million in 2021[74]. - General and administrative expenses increased by approximately HK$1.4 million to approximately HK$24.1 million for the year ended March 31, 2022, primarily due to increased staff salaries and the number of senior staff[65]. Internal Controls and Audits - The Group's internal control system has been reviewed, and no material inadequacies were found in risk management during the decision-making process[181]. - A staff member in the finance department conducts internal audits, reporting findings to the Audit Committee, ensuring compliance with relevant policies[182]. - The internal audit staff confirmed that the Group consistently complied with relevant policies and procedures during the year ended 31 March 2022[183]. - The Group's internal audit function has been reviewed, confirming adherence to policies and procedures, with no significant deficiencies identified in risk management[185]. Financial Position - As of 31 March 2022, the Group had cash and cash equivalents of approximately HK$23.9 million, down from approximately HK$34.6 million in 2021[69]. - The current ratio as of 31 March 2022 was approximately 2.2 times, compared to approximately 3.2 times at 31 March 2021[69]. - Total interest-bearing borrowings as of 31 March 2022 were approximately HK$15.9 million, an increase from approximately HK$10.0 million in 2021[69]. - The gearing ratio as of 31 March 2022 was approximately 13.5%, up from approximately 9.0% in 2021[69]. - Total assets as of 31 March 2022 were approximately HK$149.8 million, compared to approximately HK$129.9 million in 2021[69]. Board Committees - The Company has established four Board committees: audit committee, remuneration committee, nomination committee, and legal compliance committee, to oversee specific aspects of its affairs[131]. - The Audit Committee reviewed the Group's audited consolidated financial statements for the year ended March 31, 2022[144]. - The Remuneration Committee is responsible for recommending the remuneration policy and structure for Directors and senior management, ensuring alignment with market levels[146]. - The Company ensures that all Board committees have sufficient resources to perform their duties and can seek independent professional advice when necessary[132].

Financial Performance - The Group's revenue decreased by 20.4% from approximately HK$96.5 million for the nine months ended 31 December 2020 to approximately HK$76.8 million for the nine months ended 31 December 2021[9]. - The Group's gross profit decreased by 25.8% from approximately HK$35.8 million for the nine months ended 31 December 2020 to approximately HK$26.6 million for the nine months ended 31 December 2021, with a gross profit margin decline from 37.1% to 34.6%[9]. - The profit of the Group decreased by 74.0% from approximately HK$16.7 million for the nine months ended 31 December 2020 to approximately HK$4.3 million for the same period ended 31 December 2021[9]. - The Group reported a revenue of HK$25.1 million for the three months ended 31 December 2021, compared to HK$32.6 million for the same period in 2020, indicating a decline[12]. - The operating profit for the nine months ended 31 December 2021 was approximately HK$5.8 million, down from HK$20.1 million for the same period in 2020[12]. - The profit before income tax for the nine months ended 31 December 2021 was approximately HK$5.6 million, down from HK$19.8 million for the same period in 2020[12]. - The Group's other income for the nine months ended 31 December 2021 was approximately HK$0.2 million, compared to HK$1.5 million for the same period in 2020[12]. - Total comprehensive income for the period attributable to owners of the Company was HK$387,991 for the three months ended 31 December 2021, down from HK$5,539,221 in the same period of 2020[16]. - Total comprehensive income for the nine months ended 31 December 2021 was HK$4,347,685, compared to HK$16,793,736 for the same period in 2020[16]. - The Company reported a profit of HK$4,411,544 for the nine months ended 31 December 2021, compared to HK$16,775,127 for the same period in 2020[19]. Dividends and Shareholder Returns - The Board does not recommend the payment of interim dividend for the nine months ended 31 December 2021, compared to no dividend in 2020[9]. - The Company declared a dividend of HK$6,000,000 during the nine months ended 31 December 2021[19]. - No dividend was recommended for the nine months ended 31 December 2021, consistent with the previous year[44]. - The Board does not recommend the payment of an interim dividend for the nine months ended December 31, 2021 (2020: Nil) [138]. Costs and Expenses - The Group's cost of sales for the nine months ended 31 December 2021 was approximately HK$50.2 million, compared to HK$60.7 million for the same period in 2020[12]. - General and administrative expenses increased to approximately HK$17.5 million for the nine months ended 31 December 2021, compared to HK$16.0 million for the same period in 2020[12]. - The cost of materials used for the nine months ended 31 December 2021 was approximately HK$22.9 million, down from HK$34.3 million in the same period of 2020[56]. - Employee benefit expenses increased to approximately HK$13.9 million for the nine months ended 31 December 2021, compared to HK$11.1 million for the same period in 2020[56]. - Subcontractor costs for the nine months ended 31 December 2021 were approximately HK$22.5 million, slightly up from HK$22.3 million in the same period of 2020[56]. Taxation - The estimated average annual income tax rate for the nine months ended 31 December 2021 was approximately 22.0%, compared to 15.8% in 2020[38]. - Income tax expense decreased from approximately HK$3.1 million to approximately HK$1.2 million, reflecting a decline in profit before tax from approximately HK$19.8 million to approximately HK$5.6 million[80]. Market Conditions and Future Outlook - The Group anticipates challenges due to market and economic uncertainties affecting the local property market and rising labor and material costs, which may weaken financial performance in the coming years[86]. - To address these challenges, the Group plans to seek potential business opportunities, expand market share in specialized sectors, and enhance operational efficiency and cost control measures[87]. Corporate Governance and Compliance - The company has complied with the Corporate Governance Code and applicable provisions for the nine months ended December 31, 2021[129]. - The company has adopted the GEM Listing Rules as the code of conduct for securities transactions by directors[134]. - The Audit Committee was established on September 24, 2016, to oversee internal control and risk management systems[141]. - The Audit Committee has reviewed the Group's unaudited condensed consolidated financial results for the nine months ended December 31, 2021[142]. Shareholding Structure - Mr. Kwong Chi Man holds 392,886,000 shares, representing approximately 65.48% of the company's shareholding[106]. - Mr. Yip Kong Lok owns 3,000 shares in Sage City, which accounts for 30% of the shareholding in that associated corporation[109]. - As of December 31, 2021, no other directors or chief executive officers had interests or short positions in the shares of the company or associated corporations[110]. - Mr. Kwong beneficially owns 70% of Sage City, which in turn holds 65.48% of the company's shares[124]. - Mrs. Kwong, as the spouse of Mr. Kwong, is deemed to be interested in all shares of the company held by Mr. Kwong[124]. Other Financial Information - The Group's revenue recognition includes HK$25,083,200 recognized at a point in time and HK$75,733,451 recognized over time for the nine months ended 31 December 2021[30]. - The Group operates primarily in Hong Kong, with all non-current assets and capital expenditure incurred in the region[31]. - The Group's operations in Macau are subject to a corporate income tax rate of 12% on estimated assessable profits exceeding MOP600,000[43]. - There were no significant contingent liabilities as of December 31, 2021, and 2020[92]. - No competing interests were reported by directors or controlling shareholders during the nine months ended December 31, 2021[128]. - The company is not aware of any other persons with interests or short positions in the shares that need to be disclosed as of December 31, 2021[127].

Financial Performance - The Group's revenue decreased by 19.0% from approximately HK$63.8 million for the six months ended 30 September 2020 to approximately HK$51.7 million for the same period in 2021[9]. - The Group's gross profit decreased by 24.4% from approximately HK$23.7 million for the six months ended 30 September 2020 to approximately HK$17.9 million for the same period in 2021, with a gross profit margin decline from 37.1% to 34.6%[10]. - The profit of the Group decreased by 64.9% from approximately HK$11.4 million for the six months ended 30 September 2020 to approximately HK$4.0 million for the same period in 2021[11]. - The Group's operating profit for the six months ended 30 September 2021 was approximately HK$4.9 million, a significant decrease from HK$13.7 million in the same period of 2020[15]. - The Group's profit before income tax for the six months ended 30 September 2021 was approximately HK$4.7 million, down from HK$13.5 million in the same period of 2020[15]. - The total cost of sales for the six months ended 30 September 2021 was approximately HK$33.8 million, compared to HK$40.2 million for the same period in 2020[15]. - Other income for the Group for the six months ended 30 September 2021 was approximately HK$195,776, compared to HK$1.4 million in the same period of 2020[15]. - The Group's general and administrative expenses increased to approximately HK$11.5 million for the six months ended 30 September 2021, compared to HK$10.4 million in the same period of 2020[15]. - The Group's financial results indicate a challenging market environment, necessitating a review of operational strategies moving forward[15]. - Total comprehensive income for the period was HK$227,462, significantly lower than HK$6,630,101 in the previous year[18]. - Earnings per share attributable to owners of the Company was 0.05 HK cents for the three months ended September 30, 2021, down from 1.10 HK cents in the same period of 2020[18]. - Profit attributable to owners of the Company for the six months ended 30 September 2021 was HK$4,019,932, a decrease of 64.5% compared to HK$11,333,601 in 2020[66]. - Basic earnings per share for the six months ended 30 September 2021 was 0.67 HK cents, down from 1.89 HK cents in 2020[66]. Revenue Breakdown - Revenue from flooring services for the six months ended September 30, 2021, was HK$45,071,895, down from HK$55,960,069 in the same period of 2020, reflecting a decrease of approximately 19%[47]. - Revenue from ancillary services and sales of materials for the six months ended September 30, 2021, was HK$5,602,996, down from HK$7,674,673 in the same period of 2020, indicating a decline of approximately 27%[47]. - Revenue from customers in Hong Kong was HK$46,241,653 for the six months ended 30 September 2021, a decrease of 22.6% from HK$59,781,572 in 2020[51]. - Revenue from customers in Macau increased to HK$5,471,459 for the six months ended 30 September 2021, up 35.4% from HK$4,042,388 in 2020[51]. Assets and Liabilities - Total assets as of September 30, 2021, increased to HK$137,979,762 from HK$129,921,621 as of March 31, 2021[21]. - Current assets, including inventories, rose to HK$12,940,118 as of September 30, 2021, compared to HK$10,632,382 as of March 31, 2021[21]. - Total liabilities increased to HK$33,568,407 as of September 30, 2021, from HK$29,519,379 as of March 31, 2021[24]. - Non-current assets, including property, plant, and equipment, amounted to HK$39,381,276 as of September 30, 2021, up from HK$36,219,882 as of March 31, 2021[21]. - Cash and cash equivalents reached HK$38,592,070 as of September 30, 2021, compared to HK$34,551,775 as of March 31, 2021[21]. - Total equity increased to HK$104,411,355 as of September 30, 2021, from HK$100,402,242 as of March 31, 2021[24]. Cash Flow and Financing - Net cash generated from operating activities for the six months ended September 30, 2021, was HK$8,790,630, a decrease from HK$9,667,841 in the same period of 2020[30]. - The company reported a net cash used in investing activities of HK$4,044,713 for the six months ended September 30, 2021, compared to HK$347,199 in the same period of 2020[30]. - The company’s cash flows from financing activities resulted in a net cash used of HK$714,257, a decrease from HK$890,262 in the same period of 2020[30]. - The Group's total non-current assets are primarily located in Hong Kong, with substantial capital expenditure incurred in the same region[51]. - The Group's capital expenditure for the six months ended 30 September 2021 included additions to property, plant, and equipment totaling HK$3,646,700[69]. - The total bank borrowings as of September 30, 2021, were HK$9,044,826, slightly down from HK$9,410,482 as of March 31, 2021, a decrease of about 3.9%[91]. - The Group's effective interest rate for bank borrowings remained stable at 2.4% per annum as of September 30, 2021, consistent with the rate as of March 31, 2021[91]. - Total term and revolving banking facilities amounted to HK$23,044,826 as of September 30, 2021, with approximately HK$14,000,000 unutilized, unchanged from March 31, 2021[92]. Employee and Operational Insights - Employee benefit expenses increased to HK$5,049,175 for the three months ended 30 September 2021, compared to HK$3,582,673 for the same period in 2020[98]. - Staff costs for the six months ended September 30, 2021, were approximately HK$9.2 million, compared to approximately HK$7.3 million in the same period of 2020[151]. - The Group plans to seek potential business opportunities, expand market share in specialized sectors, and enhance operational efficiency to cope with challenges and achieve growth[131]. Governance and Compliance - The company has complied with the Corporate Governance Code and applicable provisions for the six months ended September 30, 2021[194]. - There were no competing interests from directors or controlling shareholders during the six months ended September 30, 2021[193]. - All directors confirmed compliance with the Code of Conduct for securities transactions during the six months ended September 30, 2021[198]. Shareholding and Ownership - As of September 30, 2021, Mr. Yip Kong Lok holds 3,000 shares in Sage City, representing a 30% interest[183]. - Mrs. Kwong holds approximately 386,016,000 shares, which accounts for 64.34% of the company's shareholding[187]. - Sage City is owned by Mr. Kwong and Mr. Yip, with ownership stakes of 70% and 30%, respectively[188]. - The company has not purchased, sold, or redeemed any shares during the six months ended September 30, 2021[200].

Financial Performance - The Group's revenue slightly increased from approximately HK$30.4 million for the three months ended 30 June 2020 to approximately HK$31.0 million for the same period in 2021[9]. - The Group's gross profit rose by 8.3% from approximately HK$10.9 million for the three months ended 30 June 2020 to approximately HK$11.8 million for the same period in 2021, with a gross profit margin increase from 35.8% to 38.0%[10]. - The Group's profit decreased from approximately HK$4.8 million for the three months ended 30 June 2020 to approximately HK$3.8 million for the same period in 2021[11]. - The operating profit for the three months ended 30 June 2021 was approximately HK$4.6 million, down from approximately HK$5.5 million in the same period of 2020[15]. - Profit before income tax for the three months ended 30 June 2021 was approximately HK$4.5 million, compared to approximately HK$5.4 million for the same period in 2020[15]. - The total comprehensive income for the period attributable to owners of the Company was approximately HK$3.7 million for the three months ended 30 June 2021, down from approximately HK$4.7 million in the same period of 2020[17]. - Earnings per share attributable to owners of the Company decreased from 0.78 HK cents to 0.62 HK cents for the three months ended 30 June 2021[17]. - The profit for the period was HK$3,723,298, compared to HK$4,704,873 in the previous year, indicating a decrease of 20.8%[20]. - The total comprehensive income for the period was HK$3,723,272, down from HK$4,704,940 in the same period last year[20]. - Basic earnings per share decreased to HK$0.62 for the three months ended 30 June 2021, down from HK$0.78 in the same period of 2020[56]. Revenue Breakdown - Revenue from customers in Hong Kong and Macau for the same period was HK$25,365,034 and HK$5,622,609 respectively, with the latter showing a significant increase of 106.5% from HK$2,718,173 in 2020[36]. - Revenue from customers in Hong Kong amounted to HK$25,365,034 for the three months ended 30 June 2021, compared to HK$27,669,588 in 2020, indicating a decrease of approximately 8.4%[38]. - Revenue from customers in Macau increased to HK$5,622,609 for the three months ended 30 June 2021, up from HK$2,718,173 in 2020, reflecting a growth of approximately 106.4%[38]. Expenses and Liabilities - General and administrative expenses rose to approximately HK$5.3 million for the three months ended 30 June 2021, compared to approximately HK$5.0 million in the same period of 2020[15]. - Impairment loss on trade and retention receivables increased by approximately HK$1.6 million, from approximately HK$447,000 in Q1 2020 to approximately HK$2.0 million in Q1 2021[75]. - Income tax expense for the Group was approximately HK$699,000 for the three months ended June 30, 2021, compared to approximately HK$643,000 in 2020[82]. - The estimated average annual income tax rate increased to approximately 15.6% for the financial year, compared to approximately 11.9% in 2020[40]. - The Group recognized lease liabilities to related parties of approximately HK$495,000 as of 30 June 2021, an increase from approximately HK$119,000 in 2020[66]. Dividend and Shareholder Information - The Board does not recommend the payment of an interim dividend for the three months ended 30 June 2021, compared to no dividend in the same period of 2020[11]. - The Board does not recommend the payment of dividends for the three months ended 30 June 2021, consistent with the previous year[43]. - The Company did not purchase, sell, or redeem any of its shares during the three months ended June 30, 2021[122]. - Mr. Kwong holds a beneficial interest of 64.34% in the Company through Sage City Investments Limited, which he owns 70%[1]. - Mr. Yip Kong Lok, an executive Director and CEO, holds a beneficial interest of 30% in Sage City[2]. - As of June 30, 2021, no other Directors or the CEO had any interests or short positions in the shares of the Company or associated corporations[4]. - The Company has conditionally adopted a share option scheme, but no share options have been granted since its adoption[124]. - Since the adoption of the share option scheme on September 24, 2016, no share options have been granted, and there were no outstanding share options as of June 30, 2021[127]. Corporate Governance and Compliance - The Company has complied with the Corporate Governance Code for the three months ended June 30, 2021[117]. - There were no competing interests reported by the Directors or controlling shareholders during the three months ended June 30, 2021[116]. - The Audit Committee has reviewed the Group's unaudited condensed consolidated financial results for the three months ended June 30, 2021[130]. - The primary duties of the Audit Committee include overseeing internal control and risk management systems of the Group[129]. Future Outlook and Strategy - The Group anticipates challenges due to market and economic uncertainty affecting the local property market and rising labor and material costs, which may weaken financial performance in the coming years[88]. - Key strategies for future growth include seeking potential business opportunities, expanding market share in specialized sectors, and enhancing operational efficiency[89]. - The Group maintained a healthy liquidity position throughout the reporting period, closely monitoring liquidity risks[90]. Company Operations - The company operates primarily in Hong Kong, with almost all non-current assets located there[36]. - The company is engaged in providing engineering services and sales of flooring materials, indicating a focus on market expansion in these sectors[24]. - The Group's business is primarily focused on the Hong Kong car park flooring industry, providing flooring services, ancillary services, and sales of flooring materials[68]. - The Group's capital expenditure is primarily incurred in Hong Kong, with substantially all non-current assets located there[38]. - The financial information presented is unaudited but has been reviewed by the audit committee, ensuring a level of oversight and accuracy[29].

Financial Performance - The Group's revenue increased to approximately HK$96.5 million, representing a 34.0% growth compared to HK$72.0 million for the nine months ended December 31, 2019[11]. - Gross profit rose by 66.3% from approximately HK$21.5 million for the nine months ended December 31, 2019, to approximately HK$35.8 million for the same period in 2020[11]. - The gross profit margin improved from 29.9% for the nine months ended December 31, 2019, to 37.1% for the same period in 2020[11]. - Profit for the Group increased from approximately HK$3.9 million for the nine months ended December 31, 2019, to approximately HK$16.7 million for the same period in 2020[11]. - The operating profit for the nine months ended December 31, 2020, was HK$20.07 million, compared to HK$4.77 million for the same period in 2019[15]. - Profit before income tax for the nine months ended December 31, 2020, was HK$19.83 million, up from HK$4.53 million for the same period in 2019[15]. - Profit attributable to owners of the Company for the nine months ended December 31, 2020, was HK$16,775,127, compared to HK$3,950,352 for the same period in 2019, representing a 324.5% increase[18]. - Total comprehensive income for the nine months ended December 31, 2020, was HK$16,793,736, compared to HK$3,878,384 for the same period in 2019, showing a significant increase of 333.5%[18]. Earnings and Dividends - The Group did not recommend the payment of an interim dividend for the nine months ended December 31, 2020 (2019: Nil)[11]. - The Company has not declared any dividends for the period, maintaining a focus on reinvestment[21]. - The Company did not recommend the payment of an interim dividend for the nine months ended December 31, 2020, consistent with the previous year[51]. Revenue Sources - Revenue for the nine months ended 31 December 2020 was HK$96,458,735, an increase of 34% compared to HK$71,994,863 for the same period in 2019[31]. - Revenue from customers located in Hong Kong was HK$91,529,639, up from HK$65,153,818 in 2019, representing an increase of 40.5%[43]. - Revenue from customers in Macau decreased to HK$4,929,096 from HK$6,841,045, a decline of 28%[45]. - The Group's ancillary services revenue for the nine months ended December 31, 2020 was HK$10,163,765, an increase of 81% from HK$5,584,045 in 2019[31]. Expenses and Costs - The cost of sales for the nine months ended December 31, 2020, was HK$60.66 million, compared to HK$50.47 million for the same period in 2019[15]. - General and administrative expenses for the nine months ended December 31, 2020, totaled HK$1.21 million, compared to HK$814,544 for the same period in 2019[15]. - The cost of materials used increased to HK$34.3 million for the nine months ended December 31, 2020, compared to HK$27.3 million for the same period in 2019[62]. - Employee benefit expenses rose to HK$11.1 million for the nine months ended December 31, 2020, up from HK$10.8 million in the same period of 2019[62]. - Subcontractor costs increased to HK$22.3 million for the nine months ended December 31, 2020, compared to HK$19.5 million for the same period in 2019[62]. Subsidies and Financial Support - The Group received subsidies of HK$1,450,277 from the COVID-19 Anti-epidemic Fund and other subsidy schemes[47]. - The Group received approximately HK$1.5 million in subsidies from the COVID-19 prevention fund and other subsidy programs in Hong Kong and Macau, compared to none in 2019[80]. Shareholder Information - Mr. Kwong beneficially owns 70% of Sage City, which holds approximately 64.34% of the issued share capital of the Company[118]. - As of December 31, 2020, Sage City held 386,016,000 shares, representing a 64.34% shareholding in the Company[116]. - Ms. Li Chuen Chun, spouse of Mr. Kwong, is deemed to be interested in all shares of the Company in which Mr. Kwong is interested[119]. - No directors or chief executive officers had any interests or short positions in the shares of the Company or associated corporations as of December 31, 2020[120]. Compliance and Governance - The Company has complied with the principles and applicable code provisions of the Corporate Governance Code for the nine months ended December 31, 2020[129]. - The Audit Committee has reviewed the Group's unaudited condensed consolidated financial results for the nine months ended December 31, 2020[136]. - The Company has confirmed that all directors fully complied with the trading code of conduct during the nine months ended December 31, 2020[126]. - No competing interests were reported by directors or controlling shareholders during the nine months ended December 31, 2020[121].

Financial Performance - The Group's revenue increased to approximately HK$63.8 million, representing a growth of 35.6% compared to HK$47.1 million for the same period in 2019[9]. - The gross profit rose by 88.6% from approximately HK$12.5 million in the six months ended September 30, 2019, to approximately HK$23.7 million for the same period in 2020[9]. - The profit for the period increased significantly from approximately HK$826,000 in 2019 to approximately HK$11.4 million in 2020[9]. - The operating profit for the six months ended September 30, 2020, was approximately HK$13.7 million, compared to HK$1.1 million for the same period in 2019[13]. - For the six months ended September 30, 2020, the profit attributable to owners of the Company was HK$6,628,728, compared to HK$536,935 for the same period in 2019, representing a significant increase[16]. - The total comprehensive income for the period was HK$6,630,101, up from HK$519,634 in the previous year, indicating a strong performance[16]. - Basic and diluted earnings per share attributable to owners of the Company increased to 1.10 HK cents, compared to 0.09 HK cents for the same period in 2019[16]. Revenue and Market Segmentation - Revenue for the six months ended September 30, 2020, was HK$63,823,960, an increase of 35.6% compared to HK$47,076,623 for the same period in 2019[46]. - Revenue from customers in Hong Kong was HK$59,781,572, up 43.7% from HK$41,575,702 in 2019, while revenue from Macau decreased to HK$4,042,388 from HK$5,500,921[49]. - The increase in revenue was primarily driven by a higher number of projects undertaken by the Group during the six months ended September 30, 2020[146]. - The Group's business focuses on the Hong Kong car park flooring industry, providing flooring services, ancillary services, and sales of flooring materials targeting mid to high-end projects[144]. Expenses and Costs - General and administrative expenses increased to approximately HK$10.4 million for the six months ended September 30, 2020, compared to HK$10.5 million in 2019[13]. - The total cost of sales for the six months ended September 30, 2020, was approximately HK$40.2 million, compared to HK$34.5 million in 2019[13]. - The cost of flooring materials used for the six months ended September 30, 2020, was HK$22,732,580, an increase from HK$18,316,010 for the same period in 2019[132]. - Employee benefit expenses for the six months ended September 30, 2020, were HK$7,307,726, slightly up from HK$7,137,070 in the previous year[132]. Assets and Liabilities - Total assets as of September 30, 2020, amounted to HK$130,912,186, an increase from HK$119,177,048 as of March 31, 2020[19]. - Current assets increased to HK$94,016,327 from HK$80,909,988, reflecting improved liquidity[19]. - Total liabilities as of September 30, 2020, were HK$34,525,666, slightly up from HK$34,183,549 as of March 31, 2020[22]. - The Company reported a total equity of HK$96,386,520, compared to HK$84,993,499 in the previous period, indicating growth in shareholder value[19]. Cash Flow and Investments - For the six months ended September 30, 2020, net cash generated from operations was HK$9,762,453, compared to a net cash used of HK$5,602,032 in the same period of 2019[29]. - Cash and cash equivalents at the end of the period were HK$28,043,826, up from HK$15,361,563 at the end of September 2019[29]. - The company incurred net cash used in investing activities of HK$347,199, compared to HK$303,381 in the previous year[29]. - The Group does not have any plans for material investments or additions of capital assets as of the report date[181]. Government Support and Subsidies - The Group received government subsidies totaling HK$1,409,877 under the COVID-19 Anti-epidemic Fund[59]. - The Group received government subsidies of approximately HK$1.4 million during the six months ended 30 September 2020, compared to nil in the same period of 2019[151]. Accounting and Financial Standards - The company adopted new accounting standards effective from April 1, 2020, which did not have a significant impact on the financial statements[34]. - The Group's financial statements were prepared in accordance with Hong Kong Financial Reporting Standards and relevant accounting policies[39]. Shareholder Information - Mr. Kwong Chi Man holds a long position in the shares of the Company, with 386,016,000 shares, representing approximately 64.34% of the shareholding[194]. - Mr. Kwong beneficially owns 70% of the issued share capital of Sage City Investments Limited, which in turn holds 64.34% of the Company[194]. Employee and Workforce - As of September 30, 2020, the Group had a total of 33 employees, an increase from 31 employees as of March 31, 2020[188]. - Employee costs for the six months ended September 30, 2020, were approximately HK$7.3 million, compared to HK$7.1 million in the same period of 2019, reflecting a year-on-year increase of about 2.82%[188].