Financial Performance - The group's revenue decreased by approximately 4.3% from about HKD 235 million in the previous year to about HKD 224.9 million for the year ended March 31, 2021[11]. - Gross profit increased by approximately HKD 200,000 or 2.7% to about HKD 9.1 million, attributed to better cost control in renovation projects[11]. - The group recorded a total comprehensive profit of approximately HKD 2.6 million, compared to a total comprehensive loss of about HKD 5 million in the previous year[11]. - The company's revenue for the year ended March 31, 2021, was approximately HKD 224,900,000, a decrease of about 4.3% from HKD 235,000,000 in the previous year[23]. - Revenue from renovation projects decreased by approximately HKD 90,200,000 or about 62.6%, while revenue from decoration projects increased by approximately HKD 80,100,000 or about 88.2%[23]. - The gross profit for the year was approximately HKD 9,100,000, an increase of about HKD 200,000 or 2.7% from HKD 8,900,000 in the previous year[29]. - The gross profit margin for decoration projects improved to 2.4% from a loss margin of 3.4% in the previous year, while the gross profit margin for renovation projects decreased to 9.5% from 8.3%[29]. - Other income and gains increased from approximately HKD 3,300,000 to HKD 8,400,000, primarily due to an increase in government subsidies under the employment support scheme[31]. - Administrative expenses decreased by approximately 11.4% from HKD 16,700,000 to HKD 14,800,000, mainly due to a reduction in employee costs[32]. - The company recorded a profit of approximately HKD 2,600,000 for the year, compared to a loss of about HKD 5,000,000 in the previous year[34]. - As of March 31, 2021, the company had cash and bank balances of approximately HKD 47,100,000, an increase from HKD 31,500,000 in the previous year[36]. - The current ratio improved from approximately 3.0 times to 3.3 times, indicating a stronger liquidity position[36]. Project and Market Outlook - The group was awarded two projects with contract amounts exceeding HKD 10 million each, totaling approximately HKD 118.1 million, contributing about HKD 16 million in revenue during the year[17]. - The total number of projects awarded decreased from six in the previous year to two in the current year[17]. - The group anticipates a recovery in the private residential market and is prepared for future challenges, expecting the upcoming year to be remarkable[13]. - The group plans to continue focusing on developing the high-end renovation and refurbishment market[18]. - The group aims to expand its project team to ensure sufficient manpower for larger projects in the future[13]. Corporate Governance and Management - The company has maintained its overall corporate strategy under the leadership of its founders, who have extensive management experience[50][51][52]. - The management team includes individuals with over 29 years of experience in the renovation and design industry, indicating strong expertise in their operational areas[51][59]. - The company has a structured board with independent non-executive directors who contribute to audit and compensation committees, enhancing governance[54][55]. - The financial director has been with the group since 2010, bringing significant financial management experience to the company[59]. - The company has a dedicated compliance officer overseeing human resources and administrative affairs, ensuring regulatory adherence[52]. - The management team is well-rounded, with members holding advanced degrees in finance and accounting, which supports informed decision-making[62]. - The company has established a strong reputation in the renovation and refurbishment industry, which helps maintain customer loyalty[71]. - The company emphasizes the importance of maintaining good relationships with suppliers to ensure efficient project completion and enhance market reputation[72]. Shareholder and Financial Policies - The company reported a final dividend of HKD 3,520,000 for the year ended March 31, 2021, translating to HKD 0.011 per ordinary share, an increase from HKD 0.0075 per share in 2020[79]. - The company focuses on sustainable profit growth and aims to reward shareholders with dividends while considering business development needs and financial health[74]. - The company has not issued any shares during the fiscal year[80]. - The company has confirmed compliance with GEM Listing Rules regarding related party transactions and has disclosed necessary information as per the regulations[97]. - The company has a stock option plan approved on February 14, 2018, which allows for the issuance of up to 32,000,000 shares, representing 10% of the company's issued share capital[102]. - The company has no plans for further grants or offerings of stock options after the expiration of the stock option plan period[99]. - The company has confirmed that all independent non-executive directors meet the independence criteria set forth in the GEM Listing Rules[88]. - The company’s board of directors' remuneration is determined based on recommendations from the remuneration committee and is subject to shareholder approval at the annual general meeting[94]. Risk Management and Compliance - The company has allocated sufficient resources and training to ensure compliance with applicable laws and regulations, with no significant violations reported during the year[68]. - The company has established appropriate and effective management policies and internal control systems regarding environmental, social, and governance (ESG) matters as of March 31, 2021[199]. - The company has adopted a code of conduct for securities trading, which all directors confirmed adherence to during the year[142]. - The board has established a risk management system with clear organizational responsibilities and regular monitoring of risk levels[173]. - The board conducted an annual review of the effectiveness of the risk management and internal control systems, finding them to be effective and sufficient[177]. Environmental, Social, and Governance (ESG) Commitment - The company is committed to environmental sustainability and resource efficiency in its operations[67]. - The company’s ESG report highlights its commitment to sustainable development and incorporates environmental, social, and governance principles into its risk management[194]. - Key ESG aspects include greenhouse gas emissions, energy consumption, and occupational health and safety[199]. - The group has implemented human resources policies and employee development and training programs[199]. - The group has measures in place to prevent child labor and forced labor within its operations[199]. - The group manages environmental and social risks in its supply chain[199]. - The quality and safety of services provided are emphasized under product responsibility[199]. - The group is committed to community investment and social welfare initiatives[199]. - Stakeholder feedback on the ESG report and sustainability performance is welcomed[200].

Financial Performance - The group's revenue for the nine months ended December 31, 2020, was approximately HKD 180.7 million, a decrease of about 9.4% compared to HKD 199.4 million for the same period in 2019[4] - Profit attributable to the owners of the company increased by approximately HKD 1.3 million or 31.9% to about HKD 5.5 million during the period[4] - The basic earnings per share for the period was approximately HKD 1.73, compared to HKD 1.31 for the same period last year[4] - The gross profit for the nine months was HKD 8.2 million, down from HKD 13.2 million in the previous year, reflecting a decrease in gross margin[7] - The company reported a net profit of HKD 5.5 million for the nine months, compared to HKD 4.2 million in the previous year[7] - The pre-tax profit for the nine months ended December 31, 2020, was HKD 19,438,000, a decrease of 11.4% compared to HKD 21,937,000 for the same period in 2019[28] - The total comprehensive income attributable to the company's owners increased by approximately 31.9% from about HKD 4.2 million to approximately HKD 5.5 million[50] Revenue Breakdown - The group's revenue from renovation projects for the nine months ended December 31, 2020, was HKD 133,764,000, a 98.2% increase compared to HKD 67,411,000 for the same period in 2019[18] - The revenue from refurbishment projects for the nine months ended December 31, 2020, was HKD 46,975,000, a 64.4% decrease compared to HKD 131,972,000 for the same period in 2019[18] - Revenue from renovation projects increased to approximately HKD 133.7 million, up about 98.4% from approximately HKD 67.4 million in the previous period, mainly due to three large renovation projects[42] - Revenue from refurbishment projects decreased to approximately HKD 47.0 million, down about 64.4% from approximately HKD 132.0 million, primarily due to the completion of major projects in the previous fiscal year[42] Cost Management - The company experienced a decrease in service costs from HKD 186.1 million to HKD 172.5 million, indicating improved cost management[7] - Administrative expenses for the nine months were HKD 10.3 million, slightly down from HKD 10.9 million in the previous year[7] - The total labor cost for the nine months ended December 31, 2020, was HKD 23,807,000, a decrease of 5.0% compared to HKD 25,074,000 for the same period in 2019[29] - The group's gross profit decreased from approximately HKD 13.2 million to about HKD 8.2 million, a decline of approximately 37.9% due to reduced revenue and cost overruns on large renovation projects[44] Other Income and Expenses - Total other income for the nine months ended December 31, 2020, was HKD 7,723,000, an increase of 145.5% compared to HKD 3,148,000 for the same period in 2019[20] - Other income and net other gains or losses increased from approximately HKD 3.1 million to about HKD 7.7 million, an increase of approximately 148.4%, mainly due to increased government subsidies and consulting fees[46] - The income tax expense decreased significantly from approximately HKD 999,000 to about HKD 43,000, a decline of approximately 95.7%[49] - The group's financing costs decreased from approximately HKD 228,000 to about HKD 104,000, a reduction of approximately 54.4% due to lower bank loan interest[48] Dividend and Shareholding - The board did not recommend the payment of an interim dividend for the period[4] - The company did not recommend an interim dividend for the nine months ended December 31, 2020, consistent with the previous year[33] - As of December 31, 2020, Advance Goal holds 214,400,000 shares, representing 67% of the company's issued share capital[67] - Active Achievor Limited, fully owned by Zheng, holds 19,200,000 shares, accounting for 6% of the company's issued share capital[67] - No other individuals were reported to hold 5% or more of the company's shares as of December 31, 2020[70] Future Plans and Focus - The company is focused on expanding its renovation and refurbishment services, which are key segments of its operations[16] - The company plans to continue focusing on the development of large-scale high-end renovation projects in the future[40] Compliance and Governance - The financial statements were prepared in accordance with Hong Kong Financial Reporting Standards, ensuring compliance and transparency[12] - The audit committee, established on January 19, 2018, is responsible for reviewing financial statements and overseeing risk management[76]

Financial Performance - The group's revenue for the six months ended September 30, 2020, was approximately HKD 128.5 million, a decrease of about 1.3% compared to HKD 130.3 million for the same period in 2019[4]. - Profit attributable to owners of the company for the period was approximately HKD 1.8 million, a decrease of about HKD 1.2 million or 39.0% from approximately HKD 3.0 million in the previous period[4]. - The company's earnings per share for the period was approximately HKD 0.56, down from HKD 0.92 in 2019[4]. - Gross profit for the six months was approximately HKD 4.1 million, compared to HKD 9.5 million for the same period in 2019, reflecting a significant decline[6]. - The company reported a pre-tax profit of HKD 1.8 million for the six months, down from HKD 3.6 million in the previous period[12]. - The company reported total revenue of HKD 128,538,000 for the six months ended September 30, 2020, compared to HKD 130,282,000 for the same period in 2019, representing a decrease of approximately 1.3%[25]. - The segment revenue from renovation projects was HKD 37,693,000 for the six months ended September 30, 2020, compared to HKD 85,913,000 for the same period in 2019, indicating a decline of approximately 56.2%[25]. - The company achieved a total segment profit of HKD 4,117,000 for the six months ended September 30, 2020, down from HKD 9,500,000 in the same period of the previous year, reflecting a decrease of approximately 56.7%[25]. - Profit and other comprehensive income for the period was approximately HKD 1.8 million, a decrease of about 39.1% from HKD 3.0 million in the previous period[80]. Cash Flow and Assets - The total assets as of September 30, 2020, were approximately HKD 135.4 million, compared to HKD 129.6 million as of March 31, 2020[8]. - Net current assets as of September 30, 2020, were approximately HKD 84.8 million, a slight decrease from HKD 86.6 million as of March 31, 2020[8]. - Operating cash flow before changes in working capital was HKD 3.1 million, compared to HKD 4.9 million in the same period last year[12]. - The net cash and cash equivalents decreased by HKD 11,283,000 during the reporting period, compared to a decrease of HKD 14,358,000 in the previous period[14]. - As of September 30, 2020, the group's bank balance and cash amounted to approximately HKD 20.2 million, down from HKD 31.5 million as of March 31, 2020[81]. - The company had bank deposits of approximately HKD 7,076,000 as of September 30, 2020, down from HKD 11,133,000 as of March 31, 2020[54]. Liabilities and Expenses - The company’s total liabilities included a repayment of lease liabilities amounting to HKD 1,171,000 during the financing activities[14]. - The company’s cash flow from financing activities resulted in a net cash outflow of HKD 3,571,000 for the reporting period[14]. - The total labor costs for the six months ended September 30, 2020, were HKD 15,996, down from HKD 16,813 for the same period in 2019, reflecting a decrease of approximately 4.8%[35]. - Administrative expenses decreased by approximately 7.0% from HKD 6.9 million to HKD 6.4 million, attributed to reductions in labor costs and travel expenses[77]. - Financing costs decreased by approximately 43.7% from HKD 126,000 to HKD 71,000, mainly due to lower bank loan interest[78]. Shareholder Information - As of September 30, 2020, the company's directors and key executives collectively own 214,400,000 shares, representing 67% of the total equity[95]. - Advance Goal Group Limited, a controlled corporation, holds 67% of the company’s shares, with significant ownership by the directors[100]. - Active Achievor Limited, another significant shareholder, owns 19,200,000 shares, accounting for 6% of the total equity[100]. Future Outlook and Strategy - The company plans to continue focusing on the development of large-scale high-end decoration and renovation projects in the future[65]. - The company is investing in new technology development, allocating $10 million for R&D in the upcoming fiscal year[112]. - Market expansion plans include entering two new regions, which are projected to increase market share by 5%[112]. - The company is considering strategic acquisitions to enhance its product portfolio, with a budget of $30 million for potential acquisitions[112]. - Future guidance indicates a focus on sustainability initiatives, with plans to invest $15 million in green technologies[112]. Government Support and Other Income - The company received government subsidies amounting to HKD 1,810,000 under the "Employment Support Scheme" during the reporting period[29]. - Other income and net other gains or losses increased from approximately HKD 1.1 million to HKD 4.1 million, a rise of about HKD 3.0 million, mainly due to increased government subsidies and consulting fees[75]. Corporate Governance - The company has established an audit committee to oversee financial reporting and risk management, consisting of three independent non-executive directors[110]. - There are no known interests held by directors or major shareholders that would directly or indirectly compete with the company’s business[105].

Financial Performance - The group's revenue for the three months ended June 30, 2020, was approximately HKD 58.9 million, a decrease of about 12.1% compared to HKD 67.0 million for the same period in 2019[4]. - The group recorded a loss of approximately HKD 1.5 million for the period, compared to a profit of HKD 2.0 million in the previous year[4]. - Basic loss per share was approximately HKD 0.45, compared to earnings of HKD 0.63 per share in 2019[4]. - The company's overall revenue decreased from approximately HKD 67.0 million to about HKD 58.9 million, a decline of approximately 12.1%[38]. - Revenue from renovation projects was approximately HKD 22.9 million, a decrease of about 47.7% compared to HKD 43.8 million in the previous period[38]. - The gross profit for the three months ended June 30, 2020, was approximately HKD 0.7 million, down 88.4% from HKD 5.8 million in the previous year[40]. - The company recorded a loss attributable to shareholders of approximately HKD 1.455 million for the three months ended June 30, 2020, compared to a profit of HKD 2.028 million in the previous period[33]. Revenue Breakdown - Revenue from renovation projects was HKD 36.0 million, an increase from HKD 23.2 million in the previous year, while revenue from refurbishment projects decreased to HKD 22.9 million from HKD 43.8 million[21]. - Other income for the period was HKD 1.3 million, significantly higher than HKD 50,000 in the same period last year[22]. - Other income increased significantly from approximately HKD 50,000 to about HKD 1.319 million, mainly due to consulting services provided for a renovation project in China[42]. Expenses and Costs - The gross profit for the period was HKD 672,000, a significant decrease from HKD 5.8 million in the previous year[8]. - Administrative expenses increased to HKD 3.4 million from HKD 3.3 million in the previous year[8]. - The company's financing costs increased by approximately 27.6%, from HKD 29,000 to HKD 37,000, primarily due to an increase in lease liabilities interest[44]. - Total labor costs for the period were approximately HKD 8.3 million, compared to approximately HKD 8.5 million in the previous period[53]. - Administrative expenses rose by approximately 3.6%, from HKD 3.3 million to HKD 3.4 million, primarily due to increased depreciation[43]. Dividends - The group did not recommend the payment of an interim dividend for the period[4]. - The company did not recommend an interim dividend for the three months ended June 30, 2020, consistent with the previous year[29]. - The board recommended a final dividend of HKD 0.75 per ordinary share for the year ended March 31, 2020, totaling HKD 2.4 million, which was approved by shareholders[46]. Financial Position - As of June 30, 2020, the group's bank balances and cash amounted to approximately HKD 43.8 million, an increase from approximately HKD 31.5 million as of March 31, 2020[48]. - The group had no borrowings as of June 30, 2020, resulting in a capital debt ratio of zero[49]. - The group maintained a cautious financial management strategy to ensure a robust liquidity position throughout the period[50]. - The board closely monitors the group's liquidity to ensure that its capital structure meets ongoing funding needs[50]. - The company has no capital commitments as of June 30, 2020[52]. Employment and Shareholding - The company had a total of 68 employees as of June 30, 2020, an increase from 67 employees as of March 31, 2020[53]. - Major shareholders, including Mr. Zheng and Ms. Liao, collectively own 67% of the issued share capital, amounting to 214 million shares[58]. - Active Achievor Limited holds 6% of the company's shares, equivalent to 19.2 million shares[61]. Compliance and Governance - The board confirmed that the information in the report is accurate and complete, with no misleading elements[2]. - The audit committee, established on January 19, 2018, reviewed the unaudited condensed consolidated financial statements for the period and confirmed compliance with applicable accounting standards and GEM listing rules[71]. - The compliance advisor, Armor Capital Limited, reported no interests in the company's equity as of June 30, 2020, apart from the compliance advisory agreement dated June 21, 2017[68]. - The company does not have provisions in its articles of association or Cayman Islands law regarding preemptive rights for existing shareholders to purchase new shares[69]. - As of June 30, 2020, the company and its subsidiaries did not engage in any arrangements that would allow directors or key executives to acquire securities of the company or its affiliates[65]. - The company has not purchased, redeemed, or sold any of its listed securities during the reporting period[65]. Future Outlook - The impact of the COVID-19 pandemic on the company's financial performance remains uncertain, and the company will continue to monitor the situation closely[34]. - The company plans to focus on developing the high-end renovation market while managing rising subcontractor costs due to labor shortages[36].

Financial Performance - The group's revenue decreased by approximately 27.6% from about HKD 324.6 million in the previous year to about HKD 235 million in the current year[9]. - Gross profit fell by approximately 70.8% from about HKD 30.5 million to about HKD 8.9 million, primarily due to losses in renovation project gross profit[9]. - The total comprehensive loss for the year was approximately HKD 5 million, compared to a total comprehensive income of about HKD 10.7 million in the previous year[9]. - The group secured six projects with contract amounts exceeding HKD 10 million each, totaling approximately HKD 174.4 million, down from HKD 253.5 million in the previous year[13]. - Revenue contribution from these projects was approximately HKD 68.9 million, compared to HKD 98.2 million in the previous year[13]. - The group's revenue for the year was approximately HKD 235 million, a decrease of about 27.6% from the previous year's revenue of approximately HKD 324.6 million[18]. - Revenue from renovation works increased by approximately HKD 27.9 million or about 23.9%, contributing a total of approximately HKD 120 million from four major renovation projects[19]. - The overall gross profit decreased by approximately HKD 21.6 million or 70.8%, from approximately HKD 30.5 million in the previous year to approximately HKD 8.9 million this year[22]. - The gross loss from renovation works was approximately HKD 3.1 million, attributed to reduced income and cost overruns on several large renovation projects[23]. - The group recorded a loss of approximately HKD 5 million for the year, compared to a profit of approximately HKD 10.7 million in the previous year[26]. Cash and Capital Management - As of March 31, 2020, the group had bank balances and cash of approximately HKD 31.5 million, an increase from HKD 21.7 million in the previous year[28]. - The current ratio improved from approximately 2.6 times to about 3 times as of March 31, 2020[28]. - The company has repaid bank borrowings of HKD 6,400,000 to reduce its capital debt ratio, with approximately HKD 6,300,000 repaid from listing proceeds and the remaining HKD 100,000 from internal resources[49]. - As of March 31, 2020, the total amount utilized from the net proceeds of the listing was approximately HKD 36,399,000, compared to HKD 27,755,000 utilized in the previous year, indicating an increase of approximately 31%[51]. - The company has expanded its renovation and refurbishment business, utilizing HKD 19,910,000 from the listing proceeds, which is an increase from HKD 14,928,000 in the previous year[51]. Business Development and Strategy - The group remains optimistic about future business development despite the challenges posed by the COVID-19 pandemic, particularly in the high-end private residential market[11]. - The group plans to continue focusing on developing large-scale high-end renovation and refurbishment projects[14]. - The company aims to further expand its internal team and enhance its ability to respond to future business opportunities[50]. - The company has a clear strategy for future business development outlined in the management discussion and analysis section of the annual report[67]. Human Resources and Operational Capacity - The company has hired new staff, including three project managers, two assistant project managers, one surveyor, one site supervisor, and one senior site coordinator, to enhance its operational capacity[46]. - The company has rented additional office space to support its expansion efforts[43]. - The company has provided additional external training for employees to enhance their skills and capabilities[47]. - The group values its employees as key assets and provides a harmonious work environment to foster creativity[73]. Corporate Governance - The board of directors is committed to compliance with applicable laws and regulations, ensuring no significant violations occurred during the year[68]. - The company has adopted a nomination policy outlining the criteria and procedures for nominating and appointing directors, focusing on character, integrity, qualifications, and diversity[138]. - The company has adopted a board diversity policy to enhance board efficiency, considering factors such as gender, age, cultural background, and professional experience[146]. - The board is responsible for maintaining effective risk management and internal control systems, which are designed to manage rather than eliminate risks[153]. - The company has established procedures for directors to seek independent professional advice to fulfill their duties[119]. Environmental, Social, and Governance (ESG) Initiatives - The company is committed to environmental sustainability and has implemented effective measures for resource utilization and waste reduction[67][68]. - The company emphasizes the importance of integrating environmental, social, and governance (ESG) principles into its risk management system[172]. - The ESG report is prepared in accordance with the guidelines set out in the Stock Exchange's ESG Reporting Guide[172]. - The company has established appropriate and effective management policies and internal control systems regarding ESG matters[177]. - The group has incorporated environmental initiatives into the employee handbook to enhance awareness of environmental protection[184]. Shareholder Relations and Dividends - The company aims to maximize shareholder returns by focusing on sustainable profit growth and rewarding shareholders with dividends[74]. - The company declared a final dividend of HKD 2,400,000, equating to HKD 0.75 per share, down from HKD 1.2 per share in the previous year[78]. - As of March 31, 2020, the distributable reserves were approximately HKD 26,500,000, a decrease from HKD 35,300,000 in 2019[80]. - The company has adopted a dividend policy to maintain sufficient cash reserves for operational needs and future growth[168]. - The board will consider various factors, including financial performance and cash flow, when proposing dividends[168].

Financial Performance - The group's revenue for the nine months ended December 31, 2019, was approximately HKD 199.4 million, a decrease of about 20.1% compared to HKD 249.6 million for the same period in 2018[4] - Profit attributable to owners of the company decreased by approximately HKD 5.4 million or 56.1% to about HKD 4.2 million during the period[4] - Basic earnings per share were approximately HKD 1.31, down from HKD 2.99 in the previous period[4] - The gross profit for the nine months ended December 31, 2019, was HKD 13.2 million, compared to HKD 25.3 million for the same period in 2018, reflecting a significant decline[6] - Total comprehensive income for the period was HKD 4.2 million, a decrease from HKD 9.6 million in the same period last year[6] - The company reported a pre-tax profit of HKD 5.2 million for the nine months ended December 31, 2019, down from HKD 11.5 million in the previous year[6] - Total revenue for the three months ended December 31, 2019, was HKD 69,101,000, a decrease of 36.2% compared to HKD 108,256,000 for the same period in 2018[20] - Revenue from renovation projects was HKD 46,059,000 for the three months ended December 31, 2019, compared to HKD 47,495,000 in the same period of 2018, reflecting a decline of 3.0%[20] - The company reported a pre-tax profit of HKD 7,236,000 for the three months ended December 31, 2019, down 22.8% from HKD 9,371,000 in the same period of 2018[28] Expenses and Costs - Administrative expenses for the nine months ended December 31, 2019, were HKD 10.97 million, compared to HKD 13.61 million for the same period in 2018[6] - Total labor costs for the three months ended December 31, 2019, were HKD 8,261,000, a decrease of 29.5% compared to HKD 11,692,000 in the same period of 2018[29] - The total labor cost for the period was approximately HKD 25.1 million, down from about HKD 28.9 million in the previous period[56] - The group's service costs decreased from approximately HKD 224.3 million to about HKD 186.1 million, a reduction of approximately 17.0%[40] - Administrative expenses decreased by approximately 19.4%, from about HKD 13.6 million to HKD 11.0 million, attributed to reduced labor costs[44] Dividends and Shareholder Information - The board of directors did not recommend the payment of an interim dividend for the period[4] - The company did not recommend an interim dividend for the nine months ended December 31, 2019, while a final dividend of HKD 0.012 per share was approved for the year ended March 31, 2019, totaling HKD 3,840,000[32] - As of December 31, 2019, the company’s directors and key executives collectively own 214,400,000 shares, representing 67% of the issued share capital[60] - Zheng Zengwei, Zheng Zengfu, and Liao Lili are considered concert parties, jointly owning the aforementioned shares through Advance Goal Group Limited[60] - Active Achievor Limited, fully owned by Zheng Fanling, holds 19,200,000 shares, accounting for 6% of the company’s issued shares[70] - No other individuals were reported to hold 5% or more of the company’s shares as of December 31, 2019[74] Income and Other Financial Metrics - The company recorded other income of HKD 3.15 million for the nine months ended December 31, 2019, compared to HKD 0.075 million in the previous year[6] - The company recorded other income of HKD 2,072,000 for the three months ended December 31, 2019, significantly up from HKD 2,000 in the same period of 2018[21] - The company’s bank interest income for the nine months ended December 31, 2019, was HKD 82,000, compared to HKD 17,000 in the same period of 2018, reflecting a substantial increase[21] - Other income rose significantly from approximately HKD 75,000 to about HKD 3.148 million, mainly due to consulting fees from a Chinese developer[43] Financial Position and Ratios - As of December 31, 2019, the group's cash balance was approximately HKD 28.9 million, up from about HKD 21.7 million as of March 31, 2019[50] - The capital-to-debt ratio as of December 31, 2019, was 2.7%, reflecting an increase due to higher bank borrowings[51] - The company’s total liabilities related to operating leases as of March 31, 2019, were HKD 1,638,000 for the next year and HKD 336,000 for the following four years[35] Corporate Governance and Compliance - The Audit Committee was established on January 19, 2018, to oversee financial reporting and risk management[81] - The company’s financial statements were reviewed by the Audit Committee and deemed compliant with applicable accounting standards and regulations[81] - There are no provisions in the company’s articles of association regarding preemptive rights for existing shareholders[79] - The company has not disclosed any interests that may constitute competition with its business from directors or major shareholders[77] Future Outlook and Strategic Initiatives - The company reported a significant increase in revenue for Q3 2019, with a year-over-year growth of 20%[83] - User data showed an increase in active users, reaching 5 million, representing a 15% growth compared to the previous quarter[83] - The company provided a positive outlook for the next quarter, projecting a revenue increase of 25%[83] - New product launches are expected to contribute an additional $50 million in revenue in the upcoming quarter[83] - The company is investing in new technology development, allocating $10 million for R&D in the next fiscal year[83] - Market expansion plans include entering two new international markets by the end of Q4 2019[83] - The company is considering strategic acquisitions to enhance its market position, with a budget of $100 million allocated for potential deals[83] - Customer satisfaction ratings improved to 90%, indicating strong user engagement and loyalty[83] - The company aims to reduce operational costs by 10% through efficiency improvements in the next year[83] - A new marketing strategy is being implemented, targeting a 30% increase in brand awareness by the end of Q4 2019[83]

Financial Performance - The group's revenue for the six months ended September 30, 2019, was approximately HKD 130.3 million, a decrease of about 7.8% compared to HKD 141.3 million for the same period in 2018[5]. - The profit attributable to owners of the company for the period was approximately HKD 3.0 million, a decrease of about HKD 3.6 million or 55.1% from approximately HKD 6.6 million in the previous period[5]. - The basic earnings per share for the period was approximately HKD 0.92, down from HKD 2.06 in the previous year[5]. - The gross profit for the six months ended September 30, 2019, was HKD 9.5 million, compared to HKD 15.7 million for the same period in 2018, reflecting a decline in gross margin[7]. - The total profit before tax for the six months ended September 30, 2019, was HKD 3,591 million, down from HKD 7,870 million for the same period in 2018[41]. - The company's profit before tax for the six months ended September 30, 2019, was 2,958,000 HKD, a decrease of 55.1% compared to 6,590,000 HKD for the same period in 2018[49]. - The group reported a total profit and comprehensive income of approximately HKD 3.0 million, a decrease of about 55.1% from HKD 6.6 million in the previous period[94]. Cash Flow and Financing - The net cash used in operating activities for the six months ended September 30, 2019, was HKD 15.0 million, compared to HKD 40.7 million in the previous period[13]. - Net cash generated from financing activities was HKD 6,026,000, down 49.3% from HKD 11,861,000 year-on-year[15]. - Cash and cash equivalents decreased by HKD 14,358,000, compared to a decrease of HKD 28,832,000 in the same period last year[15]. - The cash and cash equivalents at the end of the period were HKD 7,364,000, down 56.8% from HKD 17,053,000 in the previous year[15]. - The company repaid borrowings of HKD 3,000,000, an increase of 34.9% from HKD 2,223,000 in the previous period[15]. - The company maintained dividend payments of HKD 3,840,000, unchanged from the previous period[15]. - The company has obtained credit financing from banks amounting to approximately HKD 73.4 million as of September 30, 2019, an increase from HKD 66.9 million as of March 31, 2019[97]. - The capital debt ratio as of September 30, 2019, was 11.5%, reflecting an increase due to the allocation of bank loans for operational funding[98]. Assets and Liabilities - Total assets as of September 30, 2019, were HKD 154.6 million, with net assets amounting to HKD 95.7 million[10]. - The company reported a decrease in trade and other receivables, which amounted to HKD 23.6 million as of September 30, 2019[10]. - The total amount of trade and other receivables as of September 30, 2019, was 23,614,000 HKD, up from 7,659,000 HKD on March 31, 2019, reflecting a 208.5% increase[61]. - Trade payables were reported at HKD 22,142,000 on September 30, 2019, down from HKD 31,024,000 on March 31, 2019, indicating a reduction of approximately 29%[68]. - Contract liabilities totaled HKD 20,782,000 as of September 30, 2019, down from HKD 26,539,000 as of March 31, 2019, reflecting a decrease of about 22%[71]. - The company's lease liabilities as of September 30, 2019, were valued at HKD 2,450,000, reflecting a decrease from HKD 2,570,000 as of March 31, 2019[75]. Operational Highlights - The total revenue for the renovation segment was HKD 42,138 million for the three months ended September 30, 2019, compared to HKD 23,008 million for the same period in 2018, representing an increase of 83.3%[37]. - Revenue from renovation projects increased by approximately 116.1% to HKD 85.9 million, driven by three large renovation projects contributing about HKD 72.5 million[85]. - The service costs decreased from approximately HKD 125.6 million to HKD 120.8 million, a reduction of about 3.8%[87]. - The group plans to continue focusing on developing the high-end renovation market while managing cost control and improving gross margins[85]. - The group has rented suitable office space for expansion and purchased two new vehicles as part of its business goals[110]. - The group has hired a project manager, three assistant project managers, a surveyor, and a site supervisor to strengthen its internal team[110]. Employee and Labor Costs - As of September 30, 2019, the group had a total of 70 employees, with total labor costs approximately HKD 16.8 million, down from HKD 17.2 million in the previous period[108]. - Total labor costs for the six months ended September 30, 2019, were 16,813,000 HKD, down 2.1% from 17,169,000 HKD in the previous year[46]. Corporate Governance - The company has established an audit committee to oversee financial reporting and risk management, consisting of three independent non-executive directors[140]. - The company has not engaged in any arrangements allowing directors or executives to acquire securities during the reporting period[130]. - No purchases, sales, or redemptions of the company's listed securities occurred during the reporting period[131]. - The company's articles of association do not contain provisions for preemptive rights for existing shareholders when new shares are issued[139]. - The company has not disclosed any interests that may constitute competition with its business during the reporting period[132].

Financial Performance - The group's revenue for the three months ended June 30, 2019, was approximately HKD 67.0 million, an increase of about 8.8% compared to HKD 61.6 million for the same period in 2018[4] - The profit attributable to the company's owners decreased by approximately HKD 0.5 million or 20.6% to about HKD 2.0 million for the current period[4] - The company's earnings per share for the current period was approximately HKD 0.63, down from HKD 0.80 in 2018[4] - The gross profit for the three months ended June 30, 2019, was HKD 5.772 million, compared to HKD 6.545 million for the same period in 2018[6] - The total comprehensive income for the period attributable to the company's owners was HKD 2.028 million, down from HKD 2.553 million in the previous year[6] - Revenue from renovation projects was approximately HKD 43.8 million, an increase of about 161.3% compared to approximately HKD 16.8 million in the previous period[34] - Revenue from decoration projects decreased to approximately HKD 23.2 million, down about 48.2% from approximately HKD 44.8 million in the previous period[32] - The group's gross profit decreased from approximately HKD 6.5 million to about HKD 5.8 million, a decline of approximately 11.8% due to cost overruns on certain projects[36] - The group reported a profit attributable to owners of approximately HKD 2.0 million, a decrease of about 20.6% from approximately HKD 2.6 million in the previous period[42] Expenses and Costs - The administrative expenses for the current period were HKD 3.292 million, a decrease from HKD 3.600 million in the previous year[6] - Total labor costs for the period were approximately HKD 8.5 million, compared to HKD 7.2 million in the previous period[48] - Financing costs rose from approximately HKD 18,000 to about HKD 29,000, an increase of approximately 61.1% due to higher lease liability interest[39] Dividends and Shareholder Information - The group did not recommend the payment of an interim dividend for the current period[4] - The board did not recommend an interim dividend for the three months ended June 30, 2019, compared to zero for the same period in 2018[27] - The major shareholders, including Mr. Zheng and Ms. Liao, collectively own 214,000,000 shares, representing 67% of the issued share capital[53] - Active Achievor Limited holds 19,200,000 shares, accounting for 6% of the issued share capital[57] Financial Position and Strategy - As of June 30, 2019, the group's bank balance and cash amounted to approximately HKD 13.0 million, down from HKD 21.4 million as of March 31, 2019[43] - The capital debt ratio as of June 30, 2019, was 6.2%, an increase from zero on March 31, 2019, primarily due to new bank borrowings[45] - The company has adopted a prudent financial management strategy to maintain a healthy liquidity position throughout the period[46] - The group plans to fund future operations and capital expenditures through cash flows from operating activities and net proceeds from the listing[43] Corporate Governance and Compliance - The company has complied with the corporate governance code as per GEM listing rules throughout the reporting period[49] - The company did not engage in any arrangements allowing directors or key executives to acquire securities or debt instruments during the period[61] - There were no purchases, redemptions, or sales of the company's listed securities by the company or its subsidiaries during the period[62] - The company’s compliance advisor and its affiliates did not hold any equity interests in the company or its subsidiaries as of June 30, 2019[65] - The company’s articles of association do not contain provisions regarding preemptive rights for existing shareholders to purchase new shares[66] Audit and Financial Reporting - The financial statements were approved for publication by the board of directors on August 5, 2019[11] - The group has adopted the new Hong Kong Financial Reporting Standard 16 regarding leases, which may impact future financial reporting[16] - The audit committee, established on January 19, 2018, consists of three independent non-executive directors and has reviewed the unaudited condensed consolidated financial statements for the period[67] Business Operations - The group operates primarily in the renovation and refurbishment services sector[11] - The group plans to focus on developing the high-end renovation market while facing challenges from rising subcontractor costs due to labor shortages[31] - The group was awarded one renovation project during the period, with a contract value exceeding HKD 10 million[31] - The company has maintained a total of 72 employees as of June 30, 2019, unchanged from March 31, 2019[48] - The company has no capital commitments as of June 30, 2019[46] Other Income - Other income increased from approximately HKD 6,000 to about HKD 50,000, primarily due to an increase in bank interest income[37]

Financial Performance - For the fiscal year ending March 31, 2019, the group's revenue increased by approximately 18.6% to about HKD 324.6 million from approximately HKD 273.7 million in the previous year[9]. - The group's gross profit decreased from approximately HKD 34.2 million in the previous year to about HKD 30.5 million due to rising subcontractor costs[9]. - Profit attributable to owners of the company increased by approximately 52.7% to about HKD 10.7 million from approximately HKD 7 million in the previous year, despite a decrease in gross profit[9]. - Total comprehensive income for the year was HKD 10.7 million, a decrease of about 45% compared to HKD 19.4 million in the previous year, excluding one-time listing expenses[9]. - The group's revenue for the year ended March 31, 2019, was approximately HKD 324,600,000, an increase of about 18.6% from HKD 273,700,000 in the previous year[19]. - Revenue from renovation projects decreased by approximately HKD 1,300,000 or 1.1%, while revenue from renovation engineering increased by approximately HKD 52,200,000 or 33.4%[19]. - The group secured a total of eight projects in the current year, with a total contract value of approximately HKD 269,500,000, down from HKD 330,400,000 in the previous year[19]. - The overall gross profit decreased by approximately HKD 3,700,000 or 10.9% to about HKD 30,500,000, primarily due to a significant drop in gross profit from renovation projects[23]. - Administrative expenses increased by approximately 65.4% to about HKD 17,700,000, driven by higher labor costs, rent, and legal fees[25]. - The group reported a total profit and comprehensive income of approximately HKD 10,700,000, an increase of about 52.7% from HKD 7,000,000 in the previous year[28]. Market Outlook and Strategy - The company aims to leverage its industry expertise and unique capabilities in managing luxury projects to strengthen its market position[11]. - The company remains optimistic about the market outlook for high-quality residential renovation and refurbishment services due to rising customer expectations[11]. - The company plans to focus on better cost control and achieving higher gross profit margins in the future[11]. - The group plans to continue focusing on the development of large-scale high-end renovation and refurbishment projects in the future[16]. Financial Position and Liquidity - As of March 31, 2019, the group had bank borrowings totaling approximately HKD 66,900,000, an increase from HKD 59,100,000 in the previous year[29]. - The group's cash and bank balances decreased to approximately HKD 21,700,000 from HKD 45,900,000 in the previous year, primarily due to increased pledged bank deposits[30]. - The current ratio improved from approximately 2.5 times to 2.6 times, indicating a stronger liquidity position[30]. - As of March 31, 2019, the group had bank deposits of approximately HKD 6,000,000 as collateral for bank financing, compared to none in 2018[36]. - The group's outstanding performance guarantees as of March 31, 2019, amounted to HKD 37,684,000, an increase from HKD 31,677,000 in 2018[37]. - The labor cost for the year ended March 31, 2019, was approximately HKD 37,900,000, up from HKD 24,100,000 in 2018, reflecting an increase in employee count from 65 to 72[40]. - The group repaid bank loans of HKD 6,400,000 to reduce capital debt ratio, with approximately HKD 6,300,000 repaid from IPO proceeds[44]. - As of March 31, 2019, the net amount of unutilized IPO proceeds was approximately HKD 2,400,000[46]. - The actual amount utilized for expanding the renovation and refurbishment business was approximately HKD 14,928,000, lower than the planned amount of HKD 16,700,000[47]. - The actual amount utilized for further expanding the internal team was approximately HKD 2,999,000, lower than the planned amount of HKD 3,700,000[48]. - The group has no significant capital commitments as of March 31, 2019, and no major acquisitions or disposals of subsidiaries or joint ventures during the year[39]. Corporate Governance - The company emphasizes good corporate governance as a foundation for managing business risks and achieving success[139]. - The board of directors consists of six members, including three executive directors and three independent non-executive directors[139]. - The company has established procedures for directors to seek independent professional advice[144]. - The company ensures that all directors receive appropriate notice and materials before meetings[148]. - The company has adopted a code of conduct for securities trading by directors, ensuring compliance with GEM Listing Rules[155]. - The company has a clear policy for the remuneration of directors and senior management, ensuring no director determines their own remuneration[161]. - The company’s governance structure includes an Audit Committee, Remuneration Committee, and Nomination Committee, each with defined responsibilities[157]. - The company has adopted a nomination policy that outlines the criteria and procedures for nominating and appointing directors[168]. - The nomination committee evaluates candidates based on character, qualifications, and diversity factors, ensuring compliance with GEM listing rules[171]. - The company aims to maintain board diversity by considering factors such as gender, age, cultural background, and professional experience[179]. Risk Management - The board is responsible for maintaining effective risk management and internal control systems, which are designed to manage rather than eliminate risks[189]. - The group has established a risk management system with a clear organizational structure for responsible parties[192]. - The board has implemented a risk management culture and appetite, regularly assessing and monitoring the risk levels undertaken by the group[192]. - An independent external consultant was hired to review the effectiveness of the internal control measures, confirming that the group has established effective internal controls[193]. - The board is committed to implementing a comprehensive internal control system to protect shareholders' interests and the group's assets, with annual reviews conducted[193]. - The board has conducted an annual review of the risk management and internal control systems, finding them effective and sufficient[196]. - No major concerns were identified that could affect the group's strategic objectives during the review of the risk and internal control systems[196]. Shareholder Relations - The company aims to enhance shareholder returns through sustainable profit growth and dividend distribution[79]. - The company declared a final dividend of HKD 3,840,000 for the year ended March 31, 2019, equivalent to HKD 0.012 per share, consistent with the previous year[85]. - As of March 31, 2019, the distributable reserves amounted to approximately HKD 35,300,000, an increase from HKD 28,500,000 in 2018[92]. - Major shareholders, including Mr. Zheng Zengwei, Mr. Zheng Zengfu, and Ms. Liao Lili, collectively own 214,400,000 shares, accounting for 67% of the company's total issued capital[116]. - The company maintains a public float of at least 25% of its total issued shares as required by GEM listing rules[129]. - The controlling shareholders have made non-competition commitments for the benefit of the company, confirming compliance with these commitments during the year[200].

Financial Performance - The group's revenue for the nine months ended December 31, 2018, was approximately HKD 249.6 million, an increase of about 32.0% compared to HKD 189.0 million for the same period in 2017[4] - The total profit and comprehensive income for the period was approximately HKD 9.6 million, a decrease of about 4.6% compared to HKD 0.8 million in the previous period, after excluding one-off non-recurring listing expenses of approximately HKD 9.2 million from the previous period[4] - The company's earnings per share for the nine months was approximately HKD 2.99, compared to HKD 0.35 in the previous period[4] - The gross profit for the nine months was approximately HKD 25.3 million, compared to HKD 19.2 million in the previous period, reflecting an increase in gross profit margin[6] - The pre-tax profit for the nine months was approximately HKD 11.5 million, compared to HKD 2.7 million in the previous period[6] - The company reported a total comprehensive income of HKD 9.6 million for the nine months, significantly higher than HKD 0.8 million in the previous period[6] - Revenue from renovation projects for the nine months ended December 31, 2018, was HKD 87,258,000, up 12% from HKD 77,610,000 in the previous year[20] - The company reported a pre-tax profit of HKD 4,491,000 for the nine months ended December 31, 2018, compared to HKD 2,088,000 for the same period in 2017, reflecting a 115% increase[25] - The total labor cost for the nine months ended December 31, 2018, was HKD 28,861,000, an increase of 82% from HKD 15,817,000 in the previous year[27] - The estimated tax provision for the nine months ended December 31, 2018, was HKD 1,965,000, compared to HKD 1,862,000 for the same period in 2017[29] - The company's basic earnings per share for the nine months ended December 31, 2018, was approximately HKD 9.56 million, compared to HKD 0.832 million for the same period in 2017, representing a significant increase[32] - Total revenue increased from approximately HKD 189.0 million in the previous period to approximately HKD 249.6 million, reflecting a growth of about 32.0%[38] - Revenue from renovation projects was approximately HKD 162.3 million, up about 45.7% from HKD 111.4 million in the previous period[38] - The gross profit for the nine months ended December 31, 2018, was approximately HKD 25.3 million, an increase of about 31.3% compared to HKD 19.2 million in the previous period[39] - Administrative expenses rose to approximately HKD 13.6 million, a significant increase of about 92.4% from HKD 7.1 million in the previous period[40] - The financing costs decreased by approximately 27.9%, from HKD 283,000 in the previous period to HKD 204,000[42] - The company's total comprehensive income for the period was approximately HKD 9.6 million, a decrease of about 4.6% compared to HKD 10.0 million in the previous period[44] Dividend Policy - The board of directors did not recommend the payment of an interim dividend for the period[4] - The company did not recommend an interim dividend for the nine months ended December 31, 2018, while a total dividend of HKD 3,000,000 was declared for the same period in 2017[30] Operational Costs - The administrative expenses for the nine months were approximately HKD 13.6 million, compared to HKD 7.1 million in the previous period, indicating increased operational costs[6] - The company’s administrative expenses for the nine months ended December 31, 2018, were HKD 8,608,000, up from HKD 3,849,000 in the previous year[27] Market Strategy - The company is focused on expanding its market presence and enhancing its service offerings in the renovation and refurbishment sector[11] - The company plans to strengthen its financial capacity to undertake more large-scale renovation and refurbishment projects, while expanding its business in the non-residential sector[37] Shareholder Information - As of December 31, 2018, the company has a total of 214,400,000 shares held by major shareholders, representing 67% of the issued share capital[56] - Major shareholders include Mr. Zheng Zengwei, Mr. Zheng Zengfu, and Ms. Liao Lili, who collectively control the shares through Advance Goal Group Limited[56] - Active Achievor Limited holds 19,200,000 shares, accounting for 6% of the issued share capital[61] Compliance and Governance - The financial statements have not been audited by independent auditors but have been reviewed by the audit committee and approved by the board of directors[11] - The company has adopted a code of conduct for securities trading by directors, in compliance with GEM listing rules[55] - No interests or potential conflicts of interest were reported by directors or major shareholders in competing businesses[67] - The company has not established any arrangements for directors or executives to acquire securities of the company or its affiliates[64] - There are no provisions in the company's articles of association regarding preemptive rights for existing shareholders to purchase new shares[69] - The compliance advisor, Armor Capital Limited, reported no interests in the company's equity as of December 31, 2018[68] - The company confirms that all directors have complied with the securities trading code during the reporting period[55] - The Audit Committee was established on January 19, 2018, in accordance with GEM Listing Rule 5.28 and Corporate Governance Code[71] - The committee consists of three independent non-executive directors, including Mr. Zhang Guoqiang as the chairman[72] - The unaudited condensed consolidated financial statements for the period were reviewed by the committee, which confirmed compliance with applicable accounting standards and GEM Listing Rules[71] Cash and Debt Position - As of December 31, 2018, the company's bank balance and cash amounted to approximately HKD 10.5 million, down from HKD 45.9 million as of March 31, 2018[46] - The capital debt ratio increased to 13.6% as of December 31, 2018, compared to approximately 2.5% as of March 31, 2018, primarily due to increased bank borrowings[47] - The company's financing costs, which refer to bank borrowing interest, were not detailed in the provided content but are a critical aspect of financial performance[22] Other Information - There were no purchases, redemptions, or sales of the company's listed securities during the reporting period[65]