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].

Financial Performance - The Group's revenue increased to approximately HK$30.4 million, representing a growth of 6.3% compared to HK$28.6 million for the same period in 2019[9]. - The gross profit rose by 71.9% from approximately HK$6.3 million in the three months ended June 30, 2019, to approximately HK$10.9 million for the same period in 2020, with a gross profit margin increase from 22.1% to 35.8%[10]. - The profit for the period surged from approximately HK$306,000 in 2019 to approximately HK$4.8 million in 2020[11]. - Operating profit increased significantly to HK$5.5 million from HK$420,884 in the previous year[16]. - The profit before income tax rose to HK$5.4 million compared to HK$338,206 in the same period last year[16]. - The Group reported a net profit of HK$4.7 million attributable to owners of the Company, up from HK$325,441 in the prior year[19]. - Basic and diluted earnings per share increased to 0.78 HK cents from 0.05 HK cents in the prior year[19]. - The profit for the period was HK$4,704,873, representing a significant increase compared to the previous period[22]. - Total comprehensive income for the period was HK$4,704,940, reflecting a strong performance[22]. Revenue Breakdown - Revenue for the three months ended June 30, 2020, was HK$30,387,761, an increase of 6.3% compared to HK$28,595,381 for the same period in 2019[34]. - Revenue from customers located in Hong Kong was HK$27,669,588 for the three months ended June 30, 2020, compared to HK$25,139,384 in 2019, reflecting a growth of 10.1%[37]. - Revenue from customers in Macau decreased to HK$2,718,173 in 2020 from HK$3,455,997 in 2019, a decline of 21.4%[37]. Expenses and Costs - General and administrative expenses decreased to HK$4.99 million from HK$5.14 million in the previous year[16]. - Cost of materials used decreased to HK$10,650,746 in 2020 from HK$12,468,885 in 2019, a reduction of 14.6%[50]. - Subcontractor costs also decreased to HK$7,069,927 in 2020 from HK$8,692,935 in 2019, a decline of 18.6%[50]. - Impairment loss on trade and retention receivables and contract assets decreased from approximately HK$768,000 for the three months ended June 30, 2019, to approximately HK$447,000 for the same period in 2020[63]. - Income tax expense increased to approximately HK$643,000 for the three months ended June 30, 2020, from approximately HK$33,000 in 2019[68]. Dividends and Shareholder Information - The Board does not recommend the payment of an interim dividend for the three months ended June 30, 2020, consistent with the previous year[11]. - The Group did not recommend the payment of dividends for the three months ended June 30, 2020, consistent with the previous year[41]. - As of June 30, 2020, Mr. Kwong held a long position of 386,016,000 shares in the Company, representing approximately 64.34% of the shareholding[83]. - Sage City Investments Limited, beneficially owned by Mr. Kwong (70%) and Mr. Yip (30%), holds 64.34% of the Company's shares[94]. Corporate Governance and Compliance - The company has complied with the principles and applicable code provisions of the Corporate Governance Code for the three months ended June 30, 2020[101]. - The company established an audit committee on September 24, 2016, to oversee internal control and risk management systems[113]. - The company has adopted the Code of Conduct for securities transactions by directors, confirming compliance by all directors for the three months ended June 30, 2020[104]. - The Audit Committee has reviewed the unaudited condensed consolidated financial results for the three months ended June 30, 2020[114]. Future Outlook and Strategy - The Group plans to explore new opportunities for business diversification and keep track of new construction and refurbishment projects in the car park flooring market in Hong Kong and Macau[76]. - The Group aims to expand its ancillary services, including specialized texture painting and waterproofing works, to strengthen its market position[76]. - The future outlook indicates that market and economic conditions will continue to impact the property market development and construction schedules of main contractors[70]. - The Group will implement measures to control operational costs, including labor and material costs, as well as general and administrative expenses[76]. - The Group maintained a healthy liquidity position throughout the reporting period, with the Board closely monitoring liquidity risks to meet funding requirements[78]. Financial Position - The balance at 30 June 2020 showed total assets of HK$89,790,814, indicating growth from previous periods[22]. - The company reported retained earnings of HK$22,508,488 as of 30 June 2020, demonstrating financial stability[22]. - As of June 30, 2020, there were no significant contingent liabilities reported by the Group[78]. - The financial information for the three months ended 30 June 2020 was prepared in accordance with HKFRSs, ensuring compliance with accounting standards[29]. - The company did not apply any new or revised HKFRSs that have been issued but are not yet effective, maintaining consistency in accounting policies[28]. Company Background - The company is primarily engaged in providing engineering services in flooring, screeding, anti-skid surfacing, and waterproofing works, indicating a focus on construction-related sectors[25]. - The company listed its shares on GEM of The Stock Exchange of Hong Kong Limited on 13 October 2016, enhancing its market presence[25]. - The company is registered in the Cayman Islands with limited liability[119]. - The executive directors as of the report date include Mr. Kwong Chi Man, Mr. Yip Kong Lok, and Mr. Yip Wai Man[117].

Revenue Performance - The Group's revenue from Hong Kong was approximately HK$85.0 million for the year ended 31 March 2020, a decrease of 15.5% from approximately HK$100.7 million in 2019[17]. - Revenue from the Macau market was approximately HK$10.0 million, down 41.3% from approximately HK$17.2 million in 2019[17]. - For the year ended March 31, 2020, the Group recorded total revenue of approximately HK$95.0 million, a decrease of 19.4% compared to approximately HK$117.9 million for the year ended March 31, 2019[49]. - Revenue from the Hong Kong market was approximately HK$85.0 million, down from approximately HK$100.7 million in 2019, while revenue from the Macau market dropped to approximately HK$10.0 million from approximately HK$17.2 million in 2019[49]. - The significant drop in revenue from the Macau market was primarily caused by the outbreak of COVID-19 in early 2020[49]. Impact of COVID-19 - The decline in revenue was primarily due to project delays caused by social unrest in Hong Kong and the COVID-19 outbreak[17]. - The ongoing COVID-19 pandemic has led to precautionary measures affecting contractors and suppliers, impacting project timelines[17]. - The delays in project timelines were primarily due to social unrest in Hong Kong and the ongoing COVID-19 pandemic, which affected the operations of contractors and suppliers[21]. - The impact of COVID-19 caused delays in project progress and settlement of account receivables since February 2020[73]. - The Group is assessing the impacts of COVID-19 on its performance for the next financial year and will monitor the situation closely[18]. Business Operations and Services - The Group specializes in car park flooring services, including proprietary floor coating applications and ancillary services like texture painting and waterproofing[16]. - The Group provides car park flooring services, including proprietary floor coating products, specialized texture painting, and waterproofing works[49]. - The target market segment ranges from mid to high-end projects in the car park flooring industry[16]. - The Group's flooring services are designed to provide a colorful, slip-resistant, and durable surface resistant to water and petrochemicals[16]. Financial Performance - The Group's net profit decreased from approximately HK$9.9 million for the year ended March 31, 2019, to approximately HK$6.1 million for the year ended March 31, 2020[49]. - The gross profit dropped by approximately HK$3.3 million, or 10.2%, from approximately HK$32.7 million for the year ended March 31, 2019, to approximately HK$29.4 million for the year ended March 31, 2020[49]. - The gross profit margin increased from 27.8% for the year ended March 31, 2019, to 30.9% for the year ended March 31, 2020[52]. - The net profit of the Group decreased from approximately HK$9.9 million for the year ended March 31, 2019, to approximately HK$6.1 million for the year ended March 31, 2020, primarily due to a decrease in revenue[55]. Management and Governance - The Group's executive directors have over 35 years of experience in the construction industry, with Mr. Kwong being a sole shareholder since 2013[31]. - The independent non-executive directors bring diverse expertise, including over 35 years in accountancy and legal fields, enhancing governance[35]. - The Group's governance structure includes a mix of executive and independent non-executive directors, promoting accountability and transparency[35]. - The Board is committed to maintaining high levels of corporate governance to ensure transparency and accountability[80]. - The Company has taken out director and officer liability insurance to cover liabilities arising from legal actions against the Directors[94]. Future Plans and Strategies - The company plans to focus on diversifying its business and exploring new opportunities in the car park flooring market in Hong Kong and Macau[25]. - The company aims to expand its ancillary services, including specialized texture painting and waterproofing works[25]. - The Group plans to focus on diversifying its business and expanding ancillary services in response to market challenges and competition[62]. - Future opportunities and challenges will be influenced by the market and economic environment, particularly affecting the property market and construction schedules[61]. Financial Position - The Group's current ratio improved to approximately 2.4 times as at 31 March 2020, compared to approximately 2.2 times at 31 March 2019[63]. - As at 31 March 2020, the Group had cash and cash equivalents of approximately HK$19.6 million, down from approximately HK$23.6 million in 2019[63]. - Total interest-bearing borrowings as at 31 March 2020 were approximately HK$10.8 million, a decrease from approximately HK$11.6 million in 2019[64]. - The Group's total assets increased to approximately HK$119.2 million as at 31 March 2020, compared to approximately HK$117.8 million in 2019[65]. - The gearing ratio of the Group as at 31 March 2020 was approximately 11.3%, a decrease from 12.2% in 2019[69]. Corporate Governance and Compliance - The Company has complied with the principles and applicable code provisions of the CG Code for the year ended 31 March 2020, except for the deviation from CG Code provision A.2.1 until 1 September 2019[83]. - The Board consists of three independent non-executive directors, representing at least one-third of the Board, ensuring independent judgment[98]. - The Company encourages directors to attend relevant seminars for continuous professional development and maintains training records for each director[108]. - The Audit Committee was established on September 24, 2016, to review and supervise the Company's financial reporting process and internal control system[117]. - The Group's internal audit function reviewed key operational, financial, compliance, and risk management controls during the year ended March 31, 2020, with no material inadequacies found[169][171].

Financial Performance - The Group's revenue decreased to approximately HK$72.0 million, representing a decline of 21.4% compared to HK$91.6 million for the same period in 2018[13] - The Group's gross profit decreased by approximately HK$5.0 million, or 18.9%, from approximately HK$26.5 million for the nine months ended 31 December 2018 to approximately HK$21.5 million for the same period in 2019[13] - The Group's profit decreased from approximately HK$9.8 million for the nine months ended 31 December 2018 to approximately HK$3.9 million for the same period in 2019[13] - The operating profit for the nine months ended 31 December 2019 was approximately HK$4.77 million, down from HK$11.79 million in the same period of 2018[17] - Profit before income tax for the nine months ended 31 December 2019 was approximately HK$4.53 million, compared to HK$11.56 million for the same period in 2018[17] - The profit for the period decreased to approximately HK$3.88 million for the nine months ended 31 December 2019, down from HK$9.75 million in 2018[17] - Total comprehensive income for the nine months ended 31 December 2019 was HK$3,947,449, compared to HK$9,754,350 for the same period in 2018, indicating a significant decline of 59.6%[20] - The Company reported a profit of HK$3,950,352 for the nine months ended 31 December 2019, down from HK$9,754,350 in the previous year, a decrease of 59.6%[24] Dividends and Shareholder Returns - The Board does not recommend the payment of an interim dividend for the nine months ended 31 December 2019, compared to no dividend in 2018[13] - The Company declared a dividend of HK$4,200,000 during the nine months ended 31 December 2019[24] - The company does not recommend the payment of an interim dividend for the nine months ended 31 December 2019, consistent with the previous year where no dividend was paid[143] Revenue Breakdown - Revenue for the nine months ended 31 December 2019 was HK$71,994,863, a decrease of 21.4% compared to HK$91,612,136 for the same period in 2018[58] - Revenue from customers in Hong Kong was HK$65,153,818 for the nine months ended 31 December 2019, down 18.3% from HK$79,658,422 in 2018[59] - Revenue from customers in Macau was HK$6,841,045 for the nine months ended 31 December 2019, a decrease of 42.5% compared to HK$11,953,714 in 2018[59] Earnings and Share Performance - Basic earnings per share for the nine months ended 31 December 2019 was HK$0.66, down 59.5% from HK$1.63 in 2018[72] - Earnings per share attributable to owners of the Company for the three months ended 31 December 2019 was HK$0.51, compared to HK$0.61 for the same period in 2018, representing a decrease of 16.4%[20] Cost and Expenses - The Group's cost of sales for the nine months ended 31 December 2019 was approximately HK$50.47 million, compared to HK$65.08 million for the same period in 2018[17] - Cost of flooring materials used for the nine months ended 31 December 2019 was HK$27,289,466, a decrease of 23.3% from HK$35,563,222 in 2018[77] - Subcontractor costs for the nine months ended 31 December 2019 were HK$19,506,351, down 27.8% from HK$26,883,987 in 2018[77] - Employee benefit expenses for the nine months ended 31 December 2019 were HK$10,775,944, an increase of 13.5% from HK$9,491,659 in 2018[77] - General and administrative expenses increased by approximately HK$1.3 million from approximately HK$14.7 million for the nine months ended 31 December 2018 to approximately HK$15.9 million for the nine months ended 31 December 2019[100] Accounting Policies and Standards - The Group's financial data is prepared in accordance with the Hong Kong Financial Reporting Standards and GEM Listing Rules[35] - The Group adopted new standards and amendments effective from April 1, 2019, including HKAS 19, HKAS 28, HKFRS 9, and HKFRS 16, with no material impact from most of these changes[40] - The transition to HKFRS 16 did not have any significant impact on the current or prior periods, except as disclosed[40] - The Group's accounting policies remain consistent with those of the consolidated financial statements for the year ended March 31, 2019, unless otherwise stated[36] Liquidity and Financial Management - The Group maintained a healthy liquidity position throughout the reporting period, adopting a prudent financial management approach towards its treasury policies[112] - The Group's liquidity structure is closely monitored by the Board to meet funding requirements[112] - The Group's treasury policies are designed to manage liquidity risk effectively[112] Future Outlook and Strategy - The Group plans to explore new business opportunities through existing networks and industry exhibitions to strengthen its market position[109] - The Group aims to expand its ancillary services, including specialized texture painting and waterproofing works, to enhance revenue streams[109] - Future opportunities and challenges will be influenced by the market and economic environment affecting the property market and construction schedules[108] - The Group will implement measures to control operational costs, including labor and material costs, to improve profitability[109] Shareholding and Corporate Governance - As of December 31, 2019, Mr. Kwong Chi Man held 381,018,000 shares, representing approximately 63.5% of the Company's shareholding[123] - Sage City Investments Limited, beneficially owned by Mr. Kwong, also holds 381,018,000 shares, equating to a 63.5% shareholding in the Company[130] - The company is owned 70% by Mr. Kwong and 30% by Mr. Yip, with Mr. Kwong serving as chairman and executive director[1] - The company has complied with the principles and applicable code provisions of the Corporate Governance Code since 1 September 2019[140] - There are no competing interests from directors or controlling shareholders that could affect the company's business as of 31 December 2019[135] - The company has confirmed that all directors have complied with the required standards of dealings in securities transactions during the nine months ended 31 December 2019[141]

Financial Performance - The Group's revenue decreased to approximately HK$47.1 million, a decline of 11.7% from approximately HK$53.3 million for the same period in 2018[11]. - Gross profit decreased by approximately HK$4.5 million, or 26.2%, from approximately HK$17.0 million in 2018 to approximately HK$12.5 million in 2019[11]. - The gross profit margin fell from approximately 31.9% in 2018 to 26.6% in 2019[11]. - Net profit decreased significantly from approximately HK$6.1 million in 2018 to approximately HK$826,000 in 2019[11]. - Operating profit for the six months ended 30 September 2019 was approximately HK$1.1 million, down from HK$7.4 million in 2018[16]. - Profit before income tax decreased from approximately HK$7.2 million in 2018 to approximately HK$937,000 in 2019[16]. - Basic and diluted earnings per share attributable to owners of the Company was HK$0.09 for the three months ended September 30, 2019, down from HK$0.14 in the same period of 2018, a decline of 35.7%[19]. - Total comprehensive income for the period was HK$519,634, compared to HK$823,015 for the same period in 2018, reflecting a decrease of 36.9%[19]. - Profit attributable to owners of the Company for the six months ended 30 September 2019 was HK$862,376, a significant decline from HK$6,095,458 in 2018[116]. - The decrease in profit was primarily due to a decline in revenue and gross profit margin, along with an increase in general and administrative expenses and impairment losses on trade receivables[197]. Dividends and Earnings - The Board does not recommend the payment of an interim dividend for the six months ended 30 September 2019, consistent with the previous year[11]. - The Group did not recommend the payment of an interim dividend for the six months ended 30 September 2019, consistent with 2018[112]. - Basic earnings per share for the six months ended 30 September 2019 was HK$0.14, a decrease from HK$1.02 in 2018[116]. Assets and Liabilities - Total assets as of September 30, 2019, amounted to HK$109,381,319, a decrease from HK$117,817,729 as of March 31, 2019, representing a decline of 7.1%[22]. - Total liabilities as of September 30, 2019, were HK$29,699,747, down from HK$34,756,249 as of March 31, 2019, indicating a decrease of 14.5%[25]. - Total equity as of September 30, 2019, was HK$79,681,572, a decrease from HK$83,061,480 as of March 31, 2019, reflecting a decline of 4.6%[25]. - Current assets totaled HK$69,500,342 as of September 30, 2019, compared to HK$76,972,683 as of March 31, 2019, representing a decline of 9.7%[22]. - The Group's financial position reflects non-controlling interests of HK$15,290 as of the reporting date[56]. Cash Flow and Management - For the six months ended September 30, 2019, the net cash used in operating activities was HK$ (5,660,739), compared to HK$ 4,958,295 in the same period of 2018, indicating a significant decrease in cash flow from operations[31]. - The net cash used in financing activities was HK$ (2,298,608) for the six months ended September 30, 2019, down from HK$ (6,876,505) in the previous year, indicating improved cash management in financing[31]. - The balance of cash and cash equivalents at the end of the period was HK$ 15,361,563, an increase from HK$ 14,888,012 at the end of September 2018, indicating a positive cash position[31]. Trade Receivables and Impairment - Trade receivables increased to HK$30,760,523 as of 30 September 2019, up from HK$26,799,660 as of 31 March 2019, representing a growth of approximately 14.5%[124]. - The provision for impairment of trade receivables rose to HK$2,387,696 from HK$1,495,173, indicating a significant increase of approximately 59.7%[124]. - The ageing analysis shows that trade receivables overdue by over 90 days increased to HK$16,860,958 from HK$13,287,766, marking a rise of about 27.5%[129]. Market and Operational Outlook - The decrease in revenue was attributed to delays in project commencements caused by market and economic uncertainties since June 2019[182]. - The Group anticipates that future opportunities and challenges will be influenced by the market and economic environment, affecting the property market and construction schedules of main contractors[199]. - The Group plans to explore new business opportunities through existing networks, industry exhibitions, and advertisements in industry magazines to strengthen its market position[200]. - The Group aims to monitor new construction and refurbishment projects in the car park flooring markets in Hong Kong and Macau to capitalize on emerging opportunities[200]. - Measures will be taken to control operational costs, including labor and material costs, as well as general and administrative expenses[200]. Adoption of New Standards - The Group adopted HKFRS 16 on April 1, 2019, recognizing lease liabilities of HK$1,328,692, which were previously classified as operating leases under HKAS 17[49]. - The adjustments recognized on adoption of HKFRS 16 included current lease liabilities of HK$575,224 and non-current lease liabilities of HK$753,468[66]. - The Group's financial statements are consistent with those of the annual financial statements for the year ended March 31, 2019, except for income tax estimation[3].

Revenue Performance - The group's revenue increased from approximately HKD 24,000,000 for the three months ended June 30, 2018, to approximately HKD 28,600,000 for the three months ended June 30, 2019, representing a growth of 19.4%[6] - The company recorded revenue of approximately HKD 28,600,000 for the three months ended June 30, 2019, representing a 19.4% increase from approximately HKD 24,000,000 in the same period last year[44] - The total revenue from customers in Hong Kong and Macau was HKD 25,139,384 and HKD 3,455,997 respectively for the three months ended June 30, 2019[30] - The company’s revenue from flooring services was HKD 26,867,556 for the three months ended June 30, 2019, compared to HKD 23,132,182 in 2018[29] - The company’s revenue from supporting services was HKD 1,727,825 for the three months ended June 30, 2019, compared to HKD 817,977 in 2018[29] Profitability - The group's gross profit decreased by approximately HKD 940,000 or 12.9%, from approximately HKD 7,300,000 for the three months ended June 30, 2018, to approximately HKD 6,300,000 for the same period in 2019[6] - The group's net profit decreased from approximately HKD 2,200,000 for the three months ended June 30, 2018, to approximately HKD 306,000 for the same period in 2019[6] - The gross profit margin declined from 30.3% for the three months ended June 30, 2018, to 22.1% for the same period in 2019[6] - The operating profit for the three months ended June 30, 2019, was HKD 420,884, compared to HKD 2,569,997 for the same period in 2018[9] - The total comprehensive income for the three months ended June 30, 2019, was HKD 303,381, compared to HKD 2,239,646 for the same period in 2018[11] - The group's net profit significantly decreased from approximately HKD 2,200,000 to approximately HKD 306,000, attributed to the decline in gross profit margin and increased administrative expenses[51] Earnings Per Share - The basic and diluted earnings per share for the three months ended June 30, 2019, was HKD 0.05, down from HKD 0.37 for the same period in 2018[11] - The company’s earnings per share for the three months ended June 30, 2019, was HKD 0.05, compared to HKD 0.37 for the same period in 2018[36] Dividend Policy - The board of directors did not recommend the payment of an interim dividend for the three months ended June 30, 2019 (2018: none)[6] - The company did not recommend the distribution of dividends for the three months ended June 30, 2019[33] - No dividends were recommended for the interim period ending June 30, 2019, consistent with the previous year[73] Costs and Expenses - The company’s total costs for materials used amounted to HKD 12,468,885 for the three months ended June 30, 2019, compared to HKD 10,404,314 in 2018[37] - General and administrative expenses increased by approximately HKD 411,000 to approximately HKD 5,100,000, primarily due to employee costs and other administrative expenses[49] Financial Management - The company maintains a prudent financial management policy, ensuring a healthy liquidity position throughout the reporting period[54] - As of June 30, 2019, the group had no significant lease commitments or contingent liabilities[55] - The financial data presented is unaudited but has been reviewed by the company's audit committee[18] Corporate Governance - The company has complied with the GEM Listing Rules regarding corporate governance, except for a deviation in the separation of roles between the Chairman and CEO[68] - The board has decided to appoint Mr. Ye as the new CEO effective September 1, 2019, to focus on business operations and management[70] Future Outlook - Future opportunities and challenges will be influenced by property market developments, contractor schedules, and price competition in the parking lot paving market[53] - The group plans to explore new business opportunities through existing networks and industry exhibitions, particularly in Macau and China[53] - The group aims to expand its supporting services, including professional texturing and waterproofing projects[53] Impairment and Liabilities - The group recognized an impairment loss on trade receivables of approximately HKD 768,000 for the three months ended June 30, 2019, compared to none in the previous year[48] - The company recognized lease liabilities of approximately HKD 386,000 related to property leases as of June 30, 2019, following the adoption of HKFRS 16[42] Shareholding - Sage City holds a beneficial interest of 375,750,000 shares, representing 62.63% of the company's equity[63] - Li Chun Zhen, as the spouse of Mr. Kwan, is deemed to have an interest in all shares owned by Mr. Kwan, also totaling 375,750,000 shares or 62.63%[64] Share Transactions - The company has not purchased, sold, or redeemed any of its shares during the three months ending June 30, 2019[72]