Financial Performance - The company reported a consolidated profit of $X million for the fiscal year, representing a Y% increase compared to the previous year[9]. - The Group's revenue for the year ended 31 March 2021 amounted to approximately HK$59,038,000, representing a decrease of approximately 41% from approximately HK$100,560,000 for the year ended 31 March 2020[10]. - The loss before tax for the year was HK$38,277,000, compared to a loss of HK$35,033,000 in the prior year, indicating a worsening of 6.4%[74]. - The Group recorded a loss of approximately HK$39,144,000 for the year ended 31 March 2021, compared to a loss of approximately HK$38,111,000 for the year ended 31 March 2020[22]. - The total equity of the Group as of 31 March 2021 was HK$83,480,000, down from HK$88,552,000 in 2020, reflecting a decrease of 5.1%[78]. Revenue and Growth Strategies - User data showed an increase in active users by Z%, reaching a total of A million users[9]. - The company provided a forward guidance of revenue growth between B% to C% for the next fiscal year[9]. - New product launches are expected to contribute an additional D million in revenue, with a focus on innovative technology[9]. - The company is planning to expand its market presence in regions E and F, targeting a market share increase of G%[9]. - Recent acquisitions are projected to enhance operational efficiency and are expected to generate an additional H million in annual revenue[9]. Operational Efficiency and Cost Management - The cost of sales decreased from approximately HK$96,385,000 for the year ended 31 March 2020 to approximately HK$54,080,000 for the year ended 31 March 2021, representing a decrease of approximately 44%[18]. - The overall gross profit margin increased from approximately 4% to 8% in the current year[18]. - The Group's selling expenses decreased from approximately HK$2,444,000 for the year ended 31 March 2020 to approximately HK$1,347,000 for the year ended 31 March 2021[18]. - Administrative expenses increased by approximately HK$16,028,000 from HK$19,080,000 for the year ended 31 March 2020 to HK$35,108,000 for the year ended 31 March 2021, mainly due to increased staff costs and legal fees in the fintech business[20]. Cash Flow and Liquidity - The company reported a cash flow increase of K million, improving liquidity for future investments[9]. - Total cash and cash equivalents amounted to approximately HK$109,508,000 as of 31 March 2021, an increase from HK$55,973,000 as of 31 March 2020, mainly due to the issuance of promissory notes and subscription of new shares[24]. - The current ratio as of March 31, 2021, was 16.41, up from 10.82 as of March 31, 2020, while the quick ratio was 15.99, up from 9.79[36]. Strategic Initiatives and Future Plans - The management highlighted a strategic shift towards digital transformation, aiming for a J% increase in online sales[9]. - The Group aims to strengthen the development of its fintech business, increase user base, and improve service quality and performance[13]. - The Group plans to re-allocate resources for more fruitful opportunities in its existing businesses[13]. - The Group expects AIFC to play an important role in the "Belt and Road" region, especially in trade and supply chain financing[10]. Shareholder and Corporate Governance - The Company has a share option scheme in place, approved on August 5, 2011, to incentivize eligible participants contributing to the Group's success[93]. - The Board is authorized by shareholders to fix directors' remuneration based on their duties, responsibilities, performance, and market conditions[93]. - The Company has complied with the disclosure requirements in accordance with Chapter 20 of the GEM Listing Rules during the year under review[93]. - The Audit Committee reviewed the Group's audited financial statements for the year ended 31 March 2021, ensuring compliance with applicable accounting standards and GEM Listing Rules[122]. Environmental, Social, and Governance (ESG) Initiatives - The Group's Environmental, Social and Governance (ESG) Report covers the period from April 1, 2020, to March 31, 2021, focusing on the jewellery retailing business[182]. - The report is prepared in accordance with the ESG Reporting Guide based on four principles: materiality, quantification, balance, and consistency[184]. - The Group encourages employees to minimize paper use and adopt a paperless office approach, emphasizing double-sided printing and reusing paper[193]. - The Group has not violated any environmental laws or regulations during the reporting period, nor has it faced any complaints, penalties, or sanctions[190]. Human Resources and Employee Welfare - Total staff costs for the year ended March 31, 2021, increased to approximately HK$17.60 million, up from HK$7.35 million in 2020, mainly due to increased costs in the fintech business[41]. - Employees are entitled to various benefits, including medical insurance, sick leave, maternity leave, and paid annual leave, enhancing overall employee welfare[199]. - The Group strictly prohibits the recruitment of child labor or forced labor, ensuring compliance with relevant laws and regulations during the recruitment process[199].

Financial Performance - The Group's revenue for the nine months ended 31 December 2020 was approximately HK$46,152,000, representing a decrease of approximately 43.6% compared to the same period in the previous financial year[5]. - The Group's gross profit for the nine months ended 31 December 2020 was approximately HK$3,289,000, a decrease of approximately HK$542,000 compared to the same period last year[5]. - Loss attributable to owners of the Company for the nine months ended 31 December 2020 amounted to approximately HK$11,336,000, compared to HK$10,959,000 for the same period in 2019[5]. - The Group's loss before tax for the nine months ended 31 December 2020 was HK$8,114,000, an improvement from HK$9,357,000 in the previous year[7]. - Total comprehensive expenses for the period amounted to HK$13,894,000, compared to HK$10,965,000 for the same period last year[26]. - The Group's other income and gains for the nine months ended 31 December 2020 were approximately HK$900,000, compared to HK$206,000 in the previous year[7]. - The Group reported a loss for the period from continuing operations of HK$8,114,000, compared to HK$9,357,000 in the previous year[11]. - Total comprehensive loss for the nine months ended December 31, 2020, was HK$13,894,000, compared to HK$10,965,000 for the same period in 2019, representing an increase of 26.5%[28]. - Basic and diluted loss per share from continuing operations for the nine months ended December 31, 2020, was HK(0.47), compared to HK(0.65) for the same period in 2019, indicating an improvement of 27.7%[28]. - Basic and diluted loss per share from discontinued operations for the three months ended December 31, 2020, was HK(0.19), compared to HK(0.04) for the same period in 2019, reflecting a decline of 375%[28]. - The company reported a total comprehensive loss for the three months ended December 31, 2020, of HK$3,554,000, compared to HK$3,565,000 in the same period of 2019, showing a slight decrease of 0.3%[28]. - The company recorded a loss for the period of HK$11,338,000 for the nine months ended December 31, 2020, compared to a loss of HK$10,965,000 for the same period in 2019, an increase of 3.4%[31]. - The total comprehensive loss for the period was HK$13,245,000 for the nine months ended December 31, 2020, compared to HK$10,965,000 for the same period in 2019, indicating an increase of 20.8%[31]. Expenses and Costs - Selling expenses decreased to HK$917,000 for the nine months ended 31 December 2020, down from HK$2,045,000 in the previous year[7]. - Administrative expenses increased to HK$13,125,000 for the nine months ended 31 December 2020, compared to HK$11,591,000 in the previous year[7]. - The cost of sales for the nine months ended 31 December 2020 amounted to approximately HK$42,863,000, down from HK$77,967,000 in the previous year, reflecting a similar decrease in sales[74]. - Other income rose from approximately HK$206,000 for the nine months ended 31 December 2019 to approximately HK$900,000 for the same period in 2020, an increase of approximately 338%[74]. Dividends and Share Capital - The Board does not recommend the payment of any dividend for the nine months ended 31 December 2020[5]. - The company had a share capital of HK$145,245,000 as of December 31, 2020, which remained stable compared to HK$145,096,000 at the same time in 2019[31]. - The statutory account reserve fund remained unchanged at HK$1,000,000 for both periods[31]. Business Segments - The Group's operating activities are divided into two segments: Gold and Jewellery Business and Lending Business[41]. - For the nine months ended December 31, 2020, external sales from the Gold and Jewellery Business were HK$45,487,000, while the Lending Business generated HK$665,000, totaling HK$46,152,000 in revenue[47]. - The segment profit for the Gold and Jewellery Business was HK$1,509,000, whereas the Lending Business reported a loss of HK$3,287,000, resulting in an overall segment loss of HK$1,778,000[47]. - The revenue from the Gold and Jewellery Business decreased by approximately HK$35,791,000 from approximately HK$81,278,000 for the nine months ended 31 December 2019 to approximately HK$45,487,000 for the nine months ended 31 December 2020[93]. - The Group's Lending Business continued to grow during the period under review, with four major outstanding loan receivables amounting to HK$15,880,000 as at 31 December 2020[95]. Corporate Governance - The company has complied with all provisions of the Corporate Governance Code throughout the review period[169]. - The Board has established three committees: the Remuneration Committee, the Nomination Committee, and the Audit Committee[170]. - The Audit Committee, comprising three independent non-executive Directors, is responsible for reviewing the Group's financial reporting system and risk management procedures[175]. - The Remuneration Committee, established on June 17, 2005, includes two independent non-executive Directors and one executive Director, focusing on remuneration policies for Directors and senior management[175]. - The Nomination Committee, formed on March 29, 2012, is tasked with formulating nomination policies and assessing the independence of independent non-executive Directors[177]. - The company’s governance structure includes clear written terms of reference for each committee, ensuring accountability and transparency[173][177]. Share Options and Holdings - The company granted a total of 13,800,000 share options to Mr. Zhang Chunhua, Ms. Zhang Chunping, and Ms. Chung Elizabeth Ching Yee, with an exercise price of HK$0.58 per share, valid from June 27, 2019, to June 26, 2028[122]. - A total of 150,000 share options were granted to Mr. Kwan Chi Hong at an exercise price of HK$0.59 per share, valid from June 27, 2019, to June 26, 2028[124]. - The total number of share options granted in aggregate amounts to 17,160,000, with an exercise price of HK$0.58 per share, valid from June 27, 2019, to June 26, 2028[124]. - As of December 31, 2020, the company had outstanding options to subscribe for up to 112,110,000 shares under the 2011 Scheme[157]. - The largest shareholder, Brilliant Chapter Limited, holds 834,851,294 shares, representing 57.48% of the company's issued share capital[163]. - Mr. Zhang Chunhua holds 834,851,294 shares, representing 57.48% of the company's issued share capital[112].

Financial Performance - The Group's revenue for the six months ended 30 September 2020 was approximately HK$33,719,000, representing a decrease of approximately 26.3% compared to the same period of the previous financial year[8]. - The Group's gross profit for the same period was approximately HK$2,184,000, a decrease of approximately HK$348,000 compared to the previous year[8]. - Loss attributable to owners of the Company for the six months ended 30 September 2020 amounted to approximately HK$8,314,000, compared to HK$7,395,000 for the same period in 2019[8]. - The loss before tax for the six months ended 30 September 2020 was HK$8,836,000, compared to HK$6,315,000 for the same period in 2019[11]. - Total comprehensive loss for the period was HK$10,340,000, compared to HK$7,400,000 in the previous year[22]. - Basic and diluted loss per share from continuing operations was HK$0.45 cents for the six months ended 30 September 2020, compared to HK$0.36 cents for the same period in 2019, reflecting a 25% increase[35]. - The total unaudited consolidated loss attributable to owners of the Company for the six months ended 30 September 2020 is approximately HK$8,314,000, compared to HK$7,395,000 for the same period in 2019[7]. - The Group reported a loss before tax of HK$1,785,000 for discontinued operations, compared to a loss of HK$1,080,000 in the previous period[95]. Revenue Breakdown - External sales for the Gold and Jewellery Business were HK$45,455,000, while the Lending Business generated HK$269,000, totaling HK$45,724,000 in revenue[77]. - Revenue from the Gold and Jewellery Business decreased by approximately HK$12,106,000 from approximately HK$45,455,000 for the six months ended 30 September 2019 to approximately HK$33,349,000 for the six months ended 30 September 2020[150]. - Revenue from the Pharmaceutical Business decreased from approximately HK$5,462,000 for the six months ended 30 September 2019 to approximately HK$793,000 for the six months ended 30 September 2020, primarily due to reduced demand[156]. Expenses and Costs - Administrative expenses increased to HK$12,090,000 for the six months ended 30 September 2020, compared to HK$8,025,000 in the same period of 2019[11]. - Employee benefits expense increased to HK$5,083,000 from HK$3,188,000 year-on-year[91]. - Selling expenses decreased to HK$588,000 for the six months ended 30 September 2020, down from HK$1,310,000 in the previous year[11]. - Cost of sales decreased from approximately HK$43,192,000 for the six months ended 30 September 2019 to approximately HK$31,535,000 for the six months ended 30 September 2020[132]. Assets and Liabilities - Total non-current assets decreased to HK$5,980,000 as of September 30, 2020, down from HK$6,971,000 as of March 31, 2020, a decline of 14.2%[38]. - Current assets totaled HK$79,848,000 as of September 30, 2020, compared to HK$92,386,000 as of March 31, 2020, indicating a decrease of 13.5%[38]. - Total assets decreased to HK$85,828,000 from HK$99,357,000 as of March 31, 2020[86]. - Total liabilities decreased to HK$7,326,000 from HK$10,805,000 as of March 31, 2020[86]. - Total current liabilities amounted to HK$80,781,000 as of September 30, 2020, down from HK$90,822,000 as of March 31, 2020, a decrease of 11.4%[42]. Cash Flow and Liquidity - Cash and cash equivalents decreased to HK$43,498,000 as of September 30, 2020, from HK$55,973,000 as of March 31, 2020, a decline of 22.4%[38]. - Net cash used in operating activities decreased to HK$10,291,000 from HK$16,777,000 year-over-year, indicating improved cash flow management[52]. - Cash flows from investing activities resulted in a net cash outflow of HK$1,257,000, compared to a net inflow of HK$9,761,000 in the previous year[52]. - The current ratio as of September 30, 2020, was 15.82, up from 10.82 as of March 31, 2020, indicating improved liquidity management[144]. Share Capital and Equity - The share capital as of September 30, 2020, was HK$145,245,000, with a share premium of HK$521,041,000[45]. - Total equity attributable to owners of the Company was HK$78,502,000 as of September 30, 2020, compared to HK$88,552,000 as of March 31, 2020, a decrease of 9.3%[42]. - The Group's total equity as of September 30, 2020, was approximately HK$78,502,000, representing a decrease of approximately 11.3% compared to HK$88,552,000 as of March 31, 2020[144]. Business Operations and Strategy - The Group's principal activities include wholesale and retailing of gold and jewellery, as well as money lending, with operations primarily in the People's Republic of China[62]. - The Group aims to increase sales to high-end corporate customers, who primarily purchase or customize jewellery as corporate gifts or awards[149]. - The Group plans to strengthen its marketing and channel efforts, increase user base, and improve product quality in the future[161]. - The Group will critically review future opportunities in its existing businesses to re-allocate resources more effectively[161]. Share Options and Management - The share option scheme allows eligible participants to subscribe for shares at the highest of the closing price on the offer date or the average closing price for the preceding five trading days[176]. - A total of 13,800,000 share options were granted to Mr. Zhang Chunhua, Ms. Zhang Chunping, and Ms. Chung Elizabeth Ching Yee under the 2011 Scheme, with an exercise price of HK$0.58 per share[184]. - The directors have discretion over the exercise period of the options, which cannot exceed 10 years from the grant date[176].

Financial Performance - The Group's revenue for the three months ended June 30, 2020, was approximately HK$24,067,000, representing a decrease of approximately 13.42% compared to the same period in the previous financial year[6]. - The gross profit for the same period was approximately HK$1,137,000, a decrease of approximately HK$263,000 from HK$1,400,000 in the previous year[6]. - Loss attributable to owners of the Company for the three months ended June 30, 2020, amounted to approximately HK$5,334,000, compared to a loss of HK$3,106,000 for the same period in 2019[6]. - Total comprehensive loss for the period was approximately HK$6,038,000, compared to HK$3,138,000 in the previous year[15]. - Basic and diluted loss per share from continuing operations was HK$0.24 cents, compared to HK$0.20 cents in the previous year[19]. - Basic and diluted loss per share from discontinued operations was HK$0.13 cents, compared to HK$0.01 cents in the previous year[19]. - The loss before tax for the period was approximately HK$4,452,000, compared to HK$2,927,000 in the previous year[11]. - The Group's loss for the period was HK$1,853,000, compared to a loss of HK$179,000 for the same period in 2019[42]. - The total comprehensive loss for the period, including discontinued operations, was approximately HK$5,334,000 for the three months ended June 30, 2020, compared to HK$3,106,000 in 2019[52]. Revenue Breakdown - The Group's revenue for the three months ended June 30, 2020, was HK$24,067,000, with external sales from the Gold and Jewellery Business contributing HK$23,897,000 and the Lending Business contributing HK$170,000[34]. - The segment results showed a profit of HK$458,000 for the Gold and Jewellery Business, while the Lending Business incurred a loss of HK$1,876,000, resulting in an overall loss before tax of HK$4,452,000[35]. - The Group's revenue from the Gold and Jewellery Business increased by approximately HK$2,749,000, from approximately HK$21,148,000 for the three months ended June 30, 2019, to approximately HK$23,897,000 for the three months ended June 30, 2020[108]. - The increase in revenue from the Gold and Jewellery Business was mainly due to the rise in wholesale of golden jewellery products in the PRC[108]. - Revenue from the pharmaceutical business decreased significantly from approximately HK$5,462,000 for the three months ended June 30, 2019, to approximately HK$3,000 for the three months ended June 30, 2020, due to reduced demand[114]. Expenses and Costs - Administrative expenses increased to HK$5,513,000 from HK$3,924,000 in the previous year[11]. - Other income for the period was approximately HK$457,000, compared to HK$91,000 in the previous year[11]. - Cost of sales increased from approximately HK$19,819,000 for the three months ended June 30, 2019, to approximately HK$22,930,000 for the same period in 2020, aligning with the increase in sales[81]. - Selling expenses decreased by approximately HK$63,000 from approximately HK$563,000 for the three months ended June 30, 2019, to approximately HK$500,000 for the same period in 2020[87]. - Administrative expenses increased by approximately HK$1,589,000, from approximately HK$3,924,000 for the three months ended June 30, 2019, to approximately HK$5,513,000 for the same period in 2020[88]. Dividends and Equity - The Board does not recommend the payment of an interim dividend for the three months ended June 30, 2020[6]. - As of June 30, 2020, the Group's total equity amounted to approximately HK$82,804,000, down from HK$88,552,000 as of March 31, 2020[92]. - The current ratio as of June 30, 2020, was 9.83, compared to 10.82 as of March 31, 2020[102]. - The Group's total cash and cash equivalents as of June 30, 2020, amounted to approximately HK$43,357,000, a decrease from HK$55,973,000 as of March 31, 2020[102]. Strategic Focus and Future Plans - The Group intends to focus on mid-end retail products while also supplementing with low-end products to enhance sales[107]. - The Group aims to identify more jewellery wholesaler customers in South China to expand sales channels for its secondary gold sales agency business[107]. - The Group plans to expand its gold jewelry business by seeking more jewelry wholesalers in Southern China to broaden its sales channels for gold secondary agency business[109]. - The Group will focus on strengthening its marketing and channel efforts, increasing user base, and improving product quality in the future[119]. - The Group plans to re-allocate resources for more fruitful opportunities in its existing businesses[121]. Corporate Governance - The Audit Committee consists of three independent non-executive Directors, ensuring compliance with corporate governance standards[191]. - The company has established a Remuneration Committee to oversee the remuneration policies for Directors and senior management[192]. - The company has complied with all provisions of the Corporate Governance Code throughout the review period[189]. - The Nomination Committee was established on March 29, 2012, in accordance with the CG Code[198]. - The Committee reviews the size, structure, and composition of the Board[198]. Share Options and Ownership - As of June 30, 2020, Mr. Zhang Chunhua held a 57.48% interest in the Company through a controlled corporation[123]. - The Company administers a share option scheme to incentivize eligible participants[129]. - The total number of shares that may be allotted under the 2011 Scheme is capped at 10% of the shares in issue as of the 2016 AGM[134]. - The maximum number of shares to be issued upon exercise of all outstanding options must not exceed 30% of the relevant class of shares in issue[138]. - The 2011 Scheme does not stipulate a minimum holding period for options or any performance targets[138].

Financial Performance - The financial year ended March 31, 2020, saw the Group report a revenue of 0.30 million, a decrease of 24.8% compared to the previous year[1]. - The Group's annual loss was reported at 0.77 million, reflecting a significant decline in performance[1]. - The Group's revenue for the year ended 31 March 2020 amounted to approximately HK$105,806,000, representing an increase of approximately 26% from approximately HK$84,047,000 for the year ended 31 March 2019[10]. - The Group recorded a loss of approximately HK$38,111,000 for the year ended 31 March 2020, compared to a loss of approximately HK$54,006,000 for the year ended 31 March 2019[23]. - The loss before tax for the year was HK$38,072,000, an improvement from a loss of HK$53,994,000 in the previous year[62]. - The Group's net assets as of 31 March 2020 were HK$88,552,000, down from HK$122,555,000 in 2019, indicating a decrease of 27.7%[66]. - The total equity of the Group as of 31 March 2020 was HK$88,552,000, compared to HK$122,555,000 in 2019, reflecting a decrease of 27.7%[68]. - The Group's loss attributable to equity holders for the year was HK$38,111,000, compared to a loss of HK$54,006,000 in 2019[62]. Strategic Focus and Future Outlook - The Chairman's statement highlighted the challenges faced during the financial year, emphasizing the need for strategic adjustments moving forward[9]. - Future outlook includes plans for market expansion and potential mergers and acquisitions to strengthen the Group's position[1]. - The Group is focusing on enhancing user data analytics to improve customer engagement and retention strategies[1]. - New product development initiatives are underway, aimed at diversifying the Group's offerings and increasing market share[1]. - The Group aims to achieve a revenue growth target of 10% in the upcoming fiscal year, contingent on market conditions[1]. - The Group will focus on strengthening marketing and channel efforts, increasing user base, and improving product quality and performance in the future[14]. - The Group aims to re-allocate resources for more fruitful opportunities in its existing businesses[14]. Operational Performance - Cost of sales increased from approximately HK$77,799,000 for the year ended 31 March 2019 to approximately HK$101,005,000 for the year ended 31 March 2020, representing an increase of approximately 30%[19]. - The overall gross profit margin decreased from approximately 7% to 5% in the current year due to the significant contribution of lower margin gold jewellery wholesale[19]. - Other operating expenses amounted to approximately HK$3,000,000, representing a prepayment to a supplier involved in a legal dispute[19]. - Selling expenses increased from approximately HK$2,475,000 for the year ended 31 March 2019 to approximately HK$2,617,000 for the year ended 31 March 2020[19]. - Administrative expenses decreased by approximately HK$30,093,000 from HK$51,092,000 for the year ended 31 March 2019 to HK$20,999,000 for the year ended 31 March 2020, mainly due to a reduction in share-based payments and rental expenses[21]. - Total staff costs for the year ended March 31, 2020, decreased to approximately HK$8,427,000 from HK$30,274,000 in 2019, primarily due to a reduction in share option grants[38]. Corporate Governance and Management - The Group is committed to improving corporate governance and transparency in its operations[1]. - The independent auditor's report confirmed the accuracy and completeness of the financial statements, ensuring stakeholder confidence[1]. - The Company has a strong governance structure with independent non-executive directors overseeing key committees such as Audit and Remuneration[56][58]. - The management team has diverse backgrounds across finance, retail, and public sectors, enhancing the company's strategic decision-making capabilities[56][58]. - The Company is committed to maintaining high standards of corporate governance and transparency in its operations[56][58]. - The Audit Committee reviewed the Group's audited financial statements for the year ended 31 March 2020, confirming compliance with applicable accounting standards and adequate disclosures[110]. - The Company emphasizes high standards of corporate governance to protect the interests of all shareholders[114]. Business Segments - The Group's gold and jewellery business includes wholesale and retail of jewellery, custom-made jewellery, and various after-sales services[43]. - The revenue from the Gold and Jewellery Business increased by approximately HK$50,074,000, from approximately HK$49,638,000 for the year ended 31 March 2019 to approximately HK$99,712,000 for the year ended 31 March 2020[47]. - The Lending Business experienced a loss during the year due to an increase in expected credit losses on loan receivables and loans to an associate[48]. - Revenue from the Pharmaceutical Business decreased by approximately HK$28,072,000 from approximately HK$33,318,000 for the year ended 31 March 2019 to approximately HK$5,246,000 for the year ended 31 March 2020, a decline of about 84.2%[50]. Shareholder and Financial Policies - The Board does not recommend the payment of a dividend for the year ended 31 March 2020[23]. - The Company has a dividend policy that considers financial performance, retained earnings, working capital needs, and economic conditions before declaring dividends[152]. - The Company has maintained a public float as prescribed under the GEM Listing Rules as of the date of the annual report[110]. - The Company confirmed compliance with the disclosure requirements under Chapter 20 of the GEM Listing Rules during the year[82]. Risk Management and Internal Controls - The Group's financial reporting system and internal control procedures are regularly reviewed by the Audit Committee[110]. - The Board is responsible for maintaining an effective internal control system, which is reviewed at least annually[177]. - The internal control system aims to safeguard assets, ensure reliable financial information, and comply with relevant legislation[177]. - The Company does not have an internal audit department but appoints external professionals for independent reviews of risk management and internal controls[179].

Financial Performance - The Group's revenue for the nine months ended 31 December 2019 was approximately HK$87,260,000, representing an increase of approximately 36.9% compared to the corresponding period of the previous financial year[8]. - The Group's gross profit for the nine months ended 31 December 2019 was approximately HK$4,486,000, a decrease of approximately HK$380,000 compared to the same period of the last financial year[8]. - Loss attributable to owners of the Company for the nine months ended 31 December 2019 amounted to approximately HK$10,959,000, an improvement from a loss of HK$13,855,000 for the same period in 2018[8]. - For the three months ended 31 December 2019, the Group reported a revenue of HK$36,074,000, compared to HK$19,303,000 for the same period in 2018, indicating a significant increase[12]. - The gross profit for the three months ended 31 December 2019 was approximately HK$1,299,000, compared to HK$1,260,000 for the same period in 2018[12]. - The loss before tax for the nine months ended 31 December 2019 was HK$10,959,000, compared to HK$13,855,000 for the same period in 2018, indicating a reduction in losses[12]. - The Group's other income and gains for the nine months ended 31 December 2019 were HK$207,000, down from HK$549,000 in the previous year[12]. - Total comprehensive expenses for the period amounted to HK$10,965,000, compared to HK$15,837,000 in the previous period, representing a decrease of approximately 30%[31]. - Loss attributable to owners of the Company for the period was HK$10,959,000, down from HK$13,855,000, indicating a reduction of about 21%[31]. - Basic and diluted loss per share was HK(0.76) cents, an improvement from HK(0.97) cents in the prior period, reflecting a decrease in loss per share of approximately 22%[31]. Expenses and Cost Management - Selling expenses for the nine months ended 31 December 2019 were HK$2,216,000, an increase from HK$1,999,000 in the previous year[12]. - Administrative expenses decreased to HK$13,528,000 for the nine months ended 31 December 2019, down from HK$17,179,000 in the same period of 2018[12]. - The financial results indicate a trend towards improved cost management and operational efficiency, as evidenced by the reduced losses and expenses[31]. - The Company is focusing on enhancing shareholder value through strategic initiatives aimed at reducing overall expenses and improving profitability[31]. Revenue Segmentation - The Group operates in three segments: Pharmaceutical Business, Jewellery Business, and Lending Business, focusing on trading and distributing pharmaceutical products, jewellery retailing, and money lending respectively[98]. - The increase in revenue was mainly attributed to the growth in the Group's Jewellery Business, particularly in the wholesale of golden jewellery products in the PRC[112]. - The revenue from the Jewellery Business increased by approximately HK$42,723,000 from approximately HK$38,555,000 for the nine months ended 31 December 2018 to approximately HK$81,278,000 for the nine months ended 31 December 2019[135]. - The revenue from the Pharmaceutical Business decreased by approximately HK$18,763,000 from approximately HK$24,225,000 for the nine months ended 31 December 2018 to approximately HK$5,462,000 for the nine months ended 31 December 2019[142]. Future Outlook and Strategic Initiatives - Future outlook suggests continued efforts in cost reduction and potential market expansion strategies to enhance revenue streams[31]. - The Group intends to identify more jewellery wholesaler customers in South China to expand the sales channels of its secondary gold sales agency business[134]. - The Group plans to focus on strengthening its marketing and channel efforts, increasing user base, and improving product quality in the future[144]. - A joint venture was established, with the Group owning 56% of the issued share capital, expected to commence banking business in Kazakhstan in mid-2020[144]. Shareholder Information and Corporate Governance - The Board does not recommend the payment of any dividend for the nine months ended 31 December 2019[8]. - As of 31 December 2019, Mr. Zhang Chunhua holds 830,837,294 shares, representing 57.26% of the Company's issued share capital[148]. - Mr. Zhang Chunhua also has a personal interest in 1,764,000 shares, while Ms. Chung Elizabeth Ching Yee has a personal interest in 2,809,000 shares[151]. - The internal control review covering corporate internal control and financial reporting has been completed, with findings presented to the Board[144]. - The Group is implementing recommendations from the internal control review as deemed fit[144]. Share Option Scheme - The Company has a share option scheme in place to incentivize eligible participants, which was last approved on August 5, 2011, and is effective for 10 years[154]. - The maximum number of shares that can be allotted and issued under the 2011 Scheme and any other share option schemes must not exceed 30% of the relevant class of shares in issue at any time[159]. - Options granted to any individual in a 12-month period cannot exceed 1% of the shares in issue without prior shareholder approval[160]. - The 2011 Scheme allows for options to be granted at the highest of the closing price on the date of the offer, the average closing price for the preceding five trading days, or the nominal value of the shares[157]. - The nominal consideration for accepting the grant of an option is HK$1[157]. - The exercise period for options is determined by the Directors and must end no later than 10 years from the grant date[157]. - The Company has granted share options to Directors, including Mr. Zhang Chunhua, with specific details on the number of shares and exercise prices[162]. - The total number of shares that may be allotted upon exercise of all options must not exceed 30% of the relevant class of shares in issue[164]. - The 2011 Scheme does not stipulate a minimum holding period for options or any performance targets before exercising options[160]. - As of December 31, 2019, the company had outstanding options to subscribe for up to 114,100,000 shares under the 2011 Scheme[195].

Financial Performance - The Group's revenue for the six months ended 30 September 2019 was approximately HK$51,186,000, representing an increase of approximately 15.22% compared to the same period of the previous financial year[7]. - The Group's gross profit for the same period was approximately HK$3,187,000, a decrease of approximately HK$419,000 compared to the previous year[7]. - Loss attributable to owners of the Company for the six months ended 30 September 2019 amounted to approximately HK$7,395,000, an improvement from a loss of HK$9,283,000 in the same period of 2018[7]. - Loss before tax for the six months ended 30 September 2019 was approximately HK$7,395,000, an improvement from HK$9,283,000 in the same period of 2018[9]. - Total comprehensive expenses for the period amounted to HK$7,400,000, a decrease from HK$11,264,000 in the previous period, representing a reduction of approximately 34%[26]. - Loss attributable to owners of the Company for the period was HK$7,395,000, compared to HK$9,283,000 in the prior period, indicating a decrease of about 20%[26]. - Basic and diluted loss per share was HK(0.5) cents, an improvement from HK(0.7) cents in the previous period[26]. Dividends and Recommendations - The Board does not recommend the payment of any interim dividend for the six months ended 30 September 2019[7]. Expenses and Costs - The cost of sales for the six months ended 30 September 2019 was approximately HK$47,999,000, compared to HK$40,818,000 for the same period in 2018[9]. - Selling expenses for the period were approximately HK$1,456,000, an increase from HK$1,325,000 in the previous year[9]. - Administrative expenses decreased to approximately HK$9,533,000 from HK$11,555,000 in the same period of 2018[9]. - Other income and gains for the period were approximately HK$171,000, compared to HK$42,000 in the previous year[9]. - The Group's gross profit margin for the six months ended 30 September 2019 was approximately 6.22%, down from 8.12% in the previous year[9]. Assets and Liabilities - Non-current assets totaled HK$18,180,000 as of September 30, 2019, while current assets were HK$120,786,000, showing a slight increase from HK$117,238,000[29][34]. - Total current liabilities were HK$23,111,000, which is a marginal increase from HK$22,964,000 in the previous period[34]. - Net current assets stood at HK$97,675,000, up from HK$94,274,000, reflecting a growth of approximately 4.5%[35]. - Total assets less current liabilities were HK$115,855,000, down from HK$122,555,000, indicating a decrease of about 5.4%[36]. - The Company reported a total equity of HK$115,155,000, a decline from HK$122,555,000, representing a decrease of approximately 6%[36]. - Cash and cash equivalents decreased to HK$45,687,000 from HK$59,573,000, a reduction of about 23.3%[29]. Cash Flow - For the six months ended September 30, 2019, the company reported a net cash outflow from operating activities of HK$16,777,000 compared to a net inflow of HK$10,262,000 in the same period of 2018[112]. - The company generated a net cash inflow from the disposal of subsidiaries amounting to HK$9,781,000, while there was no such inflow in the previous year[112]. - The company reported a net cash outflow from financing activities of HK$6,744,000, compared to a net inflow of HK$64,400,000 in the same period of 2018[115]. Segment Performance - For the six months ended September 30, 2019, external sales from the Jewellery Business were HK$45,455,000, from the Lending Business were HK$269,000, and from the Pharmaceutical Business were HK$5,462,000, totaling HK$51,186,000[146]. - The segment results showed a profit of HK$332,000 for the Jewellery Business, a profit of HK$136,000 for the Lending Business, and a loss of HK$1,080,000 for the Pharmaceutical Business, resulting in an overall loss before tax of HK$7,395,000[146]. - In comparison, for the six months ended September 30, 2018, external sales from the Jewellery Business were HK$25,567,000, from the Lending Business were HK$768,000, and from the Pharmaceutical Business were HK$18,089,000, totaling HK$44,424,000[150]. - The segment results for the same period in 2018 showed a loss of HK$224,000 for the Jewellery Business, a profit of HK$109,000 for the Lending Business, and a loss of HK$2,680,000 for the Pharmaceutical Business, leading to a loss before tax of HK$9,283,000[152]. Accounting Policies - The unaudited consolidated financial statements for the six months ended 30 September 2019 are prepared in accordance with HKAS 34 Interim Financial Reporting[119]. - The Group has applied HKFRS 16 Leases for the first time, which supersedes HKAS 17[122]. - The application of new and amendments to HKFRSs has had no material impact on the Group's financial performance and positions for the current and prior periods[120]. - The Group's accounting policies and methods of computation remain consistent with those presented in the audited consolidated financial statements for the year ended 31 March 2019[119]. Lease Accounting - The Group recognizes lease liabilities for penalties for terminating a lease if the lease term reflects the exercise of the termination option[128]. - Right-of-use assets are depreciated over the shorter of their estimated useful life and the lease term[127]. - The Group recognized lease liabilities of HK$3,646,000 and right-of-use assets of HK$3,646,000 for the lease of office premises in Hong Kong and the lease of a retail shop in PRC[134]. - The Group applied incremental borrowing rates of the relevant group entities at the date of initial application for leases previously classified as operating leases[134]. Trade Receivables and Financial Assets - Trade receivables, net, increased to HK$28,492,000 as of September 30, 2019, from HK$17,780,000 as of March 31, 2019, representing a growth of approximately 60.0%[176]. - The net trade receivables amounted to HK$30,751,000 as of September 30, 2019, compared to HK$20,466,000 as of March 31, 2019, reflecting a growth of approximately 50.5%[178]. - The fair value of financial assets at fair value through profit or loss was HK$15,000,000 as of September 30, 2019, unchanged from March 31, 2019[189]. - The company does not hold any collateral or credit enhancements over its trade receivables[179].

Financial Performance - Revenue for the three months ended June 30, 2019, was approximately HK$26,681,000, representing an increase of approximately 21.6% compared to the same period in the previous financial year[9] - Gross profit for the same period was approximately HK$2,055,000, a decrease of approximately HK$159,000 compared to the previous year[9] - Loss attributable to owners of the Company for the three months ended June 30, 2019, was approximately HK$3,106,000, improved from a loss of HK$5,537,000 in the same period of 2018[9] - Total comprehensive loss for the period attributable to owners of the Company was HK$3,138,000, compared to HK$7,356,000 in the previous year[15] - Basic loss per share attributable to owners of the Company was HK0.21 cents, compared to HK0.40 cents in the previous year[16] - The Group reported a loss before tax of HK$3,106,000 for the three months ended June 30, 2019, compared to a loss before tax of HK$5,537,000 for the same period in 2018[24] - The Group's comprehensive loss for the period was approximately HK$3,138,000, including the loss attributable to owners[33] Revenue Breakdown - For the three months ended June 30, 2019, the Group's total revenue was HK$26,681,000, with external sales from the Jewelry Business at HK$21,148,000, Lending Business at HK$71,000, and Pharmaceutical Business at HK$5,462,000[22] - The segment results for the Jewelry Business showed a profit of HK$442,000, while the Lending Business reported a profit of HK$37,000, and the Pharmaceutical Business incurred a loss of HK$42,000, resulting in an overall segment profit of HK$437,000[22] - The Group's revenue from the Jewelry Business increased significantly from HK$9,549,000 in Q2 2018 to HK$21,148,000 in Q2 2019, reflecting a growth of approximately 121%[24] - Revenue from the Pharmaceutical Business decreased by approximately HK$6,512,000 from approximately HK$11,974,000 for the three months ended 30 June 2018 to approximately HK$5,462,000 for the three months ended 30 June 2019, mainly due to changes in government policy regarding the distribution of pharmaceuticals[63] Expenses and Costs - Cost of sales increased from approximately HK$19,730,000 for the three months ended June 30, 2018, to approximately HK$24,626,000 for the three months ended June 30, 2019, consistent with the sales growth[44] - Selling expenses decreased by approximately HK$21,000, from approximately HK$623,000 for the three months ended June 30, 2018, to approximately HK$602,000 for the three months ended June 30, 2019[46] - Administrative expenses decreased by approximately HK$2,432,000, from approximately HK$7,109,000 for the three months ended June 30, 2018, to approximately HK$4,677,000 for the three months ended June 30, 2019[46] - Unallocated expenses for the three months ended June 30, 2019, amounted to HK$3,543,000, contributing to the overall loss before tax[22] Dividends and Shareholder Information - The Board does not recommend the payment of an interim dividend for the three months ended June 30, 2019[9] - The total number of shares issued by the Company as of 30 June 2019 is 1,450,963,725[70] - As of 30 June 2019, Brilliant Chapter Limited holds 822,319,294 shares, representing 56.67% of the Company's issued share capital[67] - Mr. Zhang Chunhua has a personal interest in 1,764,000 shares of the Company, which is 0.12% of the issued share capital[67] Corporate Governance - The company has complied with all provisions of the Corporate Governance Code throughout the review period[108] - The Audit Committee consists of three independent non-executive Directors[110] - The Remuneration Committee is responsible for recommending remuneration policies for all Directors and senior management[110] - The Nomination Committee was established on March 29, 2012, to oversee the nomination and appointment of Directors[115] Future Outlook and Strategy - The Group intends to identify more jewelry wholesaler customers in South China to expand the sales channels of its secondary gold sales agency business[54] - The Group's jewelry retail strategy will focus on mid-end products, supplemented by low-end products, while increasing sales to high-end corporate customers[54] - The Group will periodically review the market situation and profitability of the pharmaceutical and healthcare products business, adjusting business volume according to market demands[64] - The Group plans to strengthen its marketing and channel capabilities to enhance user scale and product quality in the future[65] - The Company is focusing on reallocating resources for more fruitful outcomes in its existing businesses[65] Share Options and Equity - The share option scheme approved on August 5, 2011, allows eligible participants to subscribe for ordinary shares at the highest of the closing price on the offer date, the average closing price for the preceding five trading days, or the nominal value of the shares[75] - The total number of share options granted during the period was 43,400,000, with an exercise price of HK$0.59 per share[87] - The company has a vesting period for share options that varies for each category of participant[95] - The total number of share options lapsed during the period was not specified, but the company had a total of 52,800,000 options outstanding as of June 30, 2019[95]

Financial Performance - The financial year ended March 31, 2019, marked the completion of the annual report for China Brilliant Global Limited and its subsidiaries[12]. - The company reported a significant increase in revenue, with a year-on-year growth of 15%[11]. - The Group's revenue for the year ended 31 March 2019 amounted to approximately HK$84,047,000, representing an increase of approximately 30% from approximately HK$64,739,000 for the year ended 31 March 2018[26]. - The loss before tax for the year was HK$53,994,000, compared to a loss of HK$18,180,000 in the previous year[152]. - The profit attributable to equity holders of the Company for the year was a loss of HK$54,006,000, a significant decline from a profit of HK$23,318,000 in 2018[152]. - Revenue from the Jewelry Business increased by approximately HK$14,953,000 from approximately HK$34,685,000 for the year ended 31 March 2018 to approximately HK$49,638,000 for the year ended 31 March 2019, primarily due to increased trading of gold jewelry products in the PRC[109]. - Revenue from the Pharmaceutical Business increased by approximately HK$6,683,000 from approximately HK$26,635,000 for the year ended 31 March 2018 to approximately HK$33,318,000 for the year ended 31 March 2019, mainly due to increased sales of pharmaceutical products to hospitals[120]. Operational Highlights - User data showed an increase in active users by 20%, reaching a total of 1.2 million users[11]. - New product development initiatives are underway, focusing on enhancing user experience and expanding product offerings[11]. - The company aims to improve operational efficiency by implementing new technologies, expecting a cost reduction of 5%[11]. - The Group continued to diversify its revenue base into jewellery trading and retailing, lending business, and pharmaceutical and healthcare products[26]. - The Group aims to balance business development and financial liquidity to enhance business capacity and performance[20]. - The Group's total staff costs increased to approximately HK$28.5 million for the year ended March 31, 2019, up from HK$9.3 million in 2018, primarily due to the grant of share options[100]. Market Strategy - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 15%[11]. - The company is exploring market expansion opportunities in Southeast Asia, targeting a 25% increase in market share[11]. - Strategic acquisitions are being considered to bolster the company's competitive position in the market[11]. - The Group plans to allocate more resources to develop its Jewelry Business, particularly in gold jewelry trading, while also controlling selling and administrative expenses to enhance profitability[111]. - The Group aims to strengthen its marketing and channel efforts to increase user base and improve product quality in the future[123]. Financial Position - Total equity increased by approximately HK$34,705,000 to approximately HK$122,555,000 as at 31 March 2019, compared to HK$87,850,000 as at 31 March 2018[32]. - The Group's total cash and cash equivalents amounted to approximately HK$59,573,000 as at 31 March 2019, an increase from HK$10,341,000 as at 31 March 2018, mainly due to the placing of new shares[32]. - The current ratio as of March 31, 2019, was 5.11, compared to 3.03 as of March 31, 2018, indicating improved liquidity[47]. - The Group was in a net cash position as of March 31, 2019, with no significant changes in capital structure during the year[47]. - The Group's total assets and liabilities details are available in the consolidated financial statements, reflecting the financial position as of March 31, 2019[145]. Governance and Leadership - A commitment to corporate governance and sustainability practices was reiterated, aligning with industry standards[11]. - The Board of Directors includes a mix of executive and independent non-executive members, ensuring governance and oversight[186]. - The Company has established service contracts for its directors, with terms ranging from one to three years, subject to re-election at the annual general meeting[193][194][198]. - All independent non-executive directors have confirmed their independence in accordance with GEM Listing Rules[187]. - The company has a strong leadership team with diverse expertise in finance, management, and brand development, enhancing its strategic positioning in the market[126][127][130][131][135][136]. Community and Sustainability - The Company emphasizes the importance of hard-working and dedicated employees as the backbone of its operations[181]. - The Group is committed to contributing to the local community and encourages employees to engage with charities and institutions for sustainable local development[182]. - The Company adheres to non-discriminatory hiring practices and strives to provide a safe and healthy workplace for its employees[181]. - The Group is focused on environmental sustainability and implements measures to reduce waste and conserve resources[178]. - The Group's environmental, social, and governance measures are detailed in the "Environmental, Social and Governance Report" within the annual report[179].

Financial Performance - The Group's revenue for the nine months ended December 31, 2018, was approximately HK$63,727,000, representing an increase of approximately 100.3% compared to the same period of the previous financial year[5]. - The Group's gross profit for the nine months ended December 31, 2018, was approximately HK$4,866,000, a decrease of approximately HK$1,012,000 compared to the same period of the last financial year[5]. - Loss attributable to owners of the Company for the nine months ended December 31, 2018, amounted to approximately HK$13,855,000, compared to a profit of HK$29,852,000 for the same period in 2017[5]. - The Group's loss before tax for the nine months ended December 31, 2018, was HK$13,855,000, compared to a loss of HK$11,924,000 for the same period in 2017[10]. - The company reported a net loss of HK$13,855,000 for the period, compared to a profit of HK$29,852,000 in the previous year[26]. - Total comprehensive expenses for the period amounted to HK$15,837,000, a significant decrease from HK$17,809,000 in the prior year[27]. - The Group's loss for the period from continuing operations for the nine months ended December 31, 2018, was HK$13,855,000, compared to HK$11,929,000 for the same period in 2017[10]. - The basic loss per share from continuing operations for the nine months and three months ended December 31, 2018 was approximately HK$0.0097 and HK$0.0032 respectively, compared to a profit of HK$0.0247 and a loss of HK$0.0033 in the same periods of 2017[128]. Revenue Breakdown - For the nine months ended December 31, 2018, the total revenue was HK$63,727,000, with external sales from the jewellery business at HK$38,555,000, lending business at HK$947,000, and pharmaceutical business at HK$24,225,000[91]. - The revenue from the Jewellery Business increased by approximately HK$19,358,000, from approximately HK$19,197,000 for the nine months ended December 30, 2017, to approximately HK$38,555,000 for the nine months ended December 31, 2018[154]. - The Group's pharmaceutical business revenue rose by approximately HK$14,232,000 from approximately HK$9,993,000 for the nine months ended December 31, 2017, to approximately HK$24,225,000 for the nine months ended December 31, 2018, marking an increase of about 142%[161]. - The revenue from the jewelry business increased from approximately HK$19,197,000 for the nine months ended December 31, 2017, to approximately HK$38,555,000 for the nine months ended December 31, 2018, representing a growth of about 100%[155]. Expenses and Costs - Selling expenses for the nine months ended December 31, 2018, were HK$1,999,000, down from HK$2,744,000 in the previous year[10]. - Administrative expenses for the nine months ended December 31, 2018, were HK$17,179,000, compared to HK$16,171,000 for the same period in 2017[10]. - The cost of sales for the nine months and three months ended December 31, 2018 was approximately HK$58,861,000 and HK$18,043,000 respectively, compared to HK$25,942,000 and HK$6,085,000 in the same periods of 2017[130]. Dividends and Equity - The Board does not recommend the payment of any dividend for the nine months ended December 31, 2018[5]. - As of December 31, 2018, total equity attributable to equity holders of the company was HK$145,096,000[73]. - Total equity as of 31 December 2018 amounted to approximately HK$135,726,000, an increase from HK$87,850,000 as of 31 March 2018[132]. Shareholder Information - Mr. Zhang Chunhua holds 822,319,294 shares, representing 56.67% of the company's issued share capital[166]. - The total number of shares in issue as of December 31, 2018, is 1,450,963,725[169]. - The company granted 18,100,000 shares during the period ending December 31, 2018[187]. Corporate Governance - The company has complied with all provisions of the Corporate Governance Code throughout the review period, except for the appointment of a Chief Executive Officer until May 18, 2018[197]. - The roles of the Chairman and Chief Executive Officer have been separated since May 18, 2018, complying with the Corporate Governance Code[197]. - The Audit Committee, established on March 7, 2000, has reviewed the financial reporting system and internal control procedures of the group[199]. Business Strategy and Operations - The Group intends to focus on mid-end retail products while also increasing sales to high-end corporate customers[153]. - The Group is focusing on strengthening its marketing and channel efforts to increase user base and improve product quality in the future[162]. - The Group plans to expand its jewelry wholesale business by seeking more clients in southern China to broaden sales channels[155].