Financial Performance - The Group's turnover for the quarter ended June 30, 2020, was approximately RMB 424.07 million, representing an increase of approximately 9.06% compared to the corresponding period in the previous fiscal year[7]. - Profit attributable to owners for the quarter was approximately RMB 67.21 million[10]. - Total comprehensive income attributable to owners for the quarter was approximately RMB 68.34 million[8]. - Basic and diluted earnings per share for the quarter was approximately RMB 0.019[12]. - The Group's gross profit for the quarter was RMB 162.90 million, compared to RMB 128.71 million in the previous year, indicating a significant increase[14]. - Profit before income tax for the quarter was RMB 132.72 million, compared to RMB 97.95 million in the previous year[14]. Expenses - Selling and distribution expenses for the quarter were RMB 11.12 million, slightly decreased from RMB 11.27 million in the previous year[14]. - Administrative expenses increased to RMB 27.53 million from RMB 23.44 million in the previous year[14]. - The finance cost for the three months ended June 30, 2020, was RMB 1,841,000, significantly higher than RMB 329,000 in 2019[26]. - The current tax for the three months ended June 30, 2020, included PRC Enterprise Income Tax of RMB 18,565,000, compared to RMB 11,386,000 for the same period in 2019[32]. Other Income - The Group recorded other income and gains of RMB 7.64 million, up from RMB 0.61 million in the previous year[14]. - Other income and gains for the three months ended June 30, 2020, increased by approximately 11.54 times compared to the same period in 2019, mainly due to a special reward fund of RMB 6.35 million received from the local government[41]. Dividend Policy - The Board does not recommend the payment of any dividend for the quarter[13]. - The Company does not recommend payment of any dividend for the Quarterly Period, consistent with the previous year[33]. Shareholding Structure - Mr. Liu Fali holds 240,415,854 ordinary shares, representing approximately 6.76% of the total shareholding[49]. - The total number of shares held by parties to an agreement to acquire interests in the company is 1,657,167,368, accounting for 46.57% of the total shareholding[49]. - Ms. Ma Ye is a beneficial owner of 124,005,000 ordinary shares, which is about 3.48% of the total shareholding[55]. - The total shares held by Mr. Xiong Zeke through a controlled corporation amount to 80,811,927, representing 2.27% of the total shareholding[48]. - Ms. Qin Chunhong holds 34,024,908 ordinary shares, which is approximately 0.96% of the total shareholding[49]. - The total number of shares held by Mr. Ma Tianyi is 3,660,000, representing 0.10% of the total shareholding[49]. - The total number of shares held by Ms. Ma Ye and her associated parties is 1,774,098,222, accounting for 49.85% of the total shareholding[59]. - As of June 30, 2020, Shiny Ocean holds 1,361,516,331 ordinary shares, representing approximately 38.25% of the total shareholding[82]. - Mr. Ma Suocheng has an interest in 1,898,103,222 ordinary shares, accounting for 53.33% of the total shareholding[83]. - Ms. Ma Xia holds 172,166,037 ordinary shares, which is about 4.84% of the total shareholding[83]. - As of June 30, 2020, no other directors or chief executives had interests in any shares or debentures of the company[79]. Corporate Governance - The company has complied with all code provisions as set out in the Code on Corporate Governance Practices throughout the review period[92]. - The company adopted a code of conduct regarding Directors' securities transactions, with no non-compliance reported during the review period[91]. - The company has complied with all principles and provisions of the Corporate Governance Code during the review period[96]. - The audit committee consists of three Independent Non-Executive Directors, ensuring compliance with GEM Listing Rules[98]. - The company has adopted a higher standard for securities trading by directors than the mandatory standards outlined in the GEM Listing Rules[97]. - There are no significant competitive interests held by directors or controlling shareholders that could impact the Group's business[95]. - No significant competition with the business of the group was reported among Directors or controlling shareholders during the three months ended June 30, 2020[91]. Capital and Assets - As of June 30, 2020, certain property, plant, and equipment valued at RMB 66,105,400 were pledged to secure the Group's bank loans[43]. - The company’s total issued shares as of June 30, 2020, is the basis for calculating the percentage of shareholding[75]. - The percentage of shareholding is calculated based on the number of issued shares of the company as of June 30, 2020[88]. - The entire issued share capital of Ma Family Holdings Co. Limited is owned by Equity Trustee Limited, which acts as trustee for the Ma Family Trust[88]. - The company has not been notified of any other person with a discloseable interest or short position in the shares as of June 30, 2020[88]. Share Transactions - During the three months ended June 30, 2020, the company did not purchase, sell, or redeem any of its listed shares[91].

Financial Performance - The group recorded a consolidated revenue of approximately RMB 1.627 billion for the fiscal year ending March 31, 2020, representing an increase of about 4.55% compared to the previous year[14]. - The profit growth was primarily driven by the production and sales of civil explosives and the provision of blasting operations and mining engineering services[8]. - The company's total revenue for the year was approximately RMB 1,627,344,000, with sales of explosive products contributing 51.63% and blasting services contributing 48.37%[15]. - Earnings per share increased due to stable revenue growth from the manufacturing and sales of explosive products and blasting services[19]. - As of March 31, 2020, the company's equity was approximately RMB 1,084,380,000, an increase from RMB 867,530,000 in 2019[25]. - Current assets were approximately RMB 1,360,000,000, up from RMB 1,059,000,000 in 2019, with cash and cash equivalents at RMB 165,180,000[25]. - The company's debt-to-asset ratio increased to 18.38% from 2.88% in 2019, attributed to effective utilization of capital policies in China[26]. - The company's distributable reserves as of March 31, 2020, were approximately RMB 573 million, down from RMB 604 million in 2019, reflecting a decrease of about 5.14%[118]. - Charitable donations for the year totaled RMB 1.76 million, an increase of 32.3% compared to RMB 1.33 million in 2019[122]. Business Strategy and Operations - The group plans to continue developing its existing civil blasting business and mining engineering services, with a focus on expanding production bases in Inner Mongolia and Tajikistan[8]. - The group is actively seeking acquisition and merger opportunities to expand its market presence[8]. - The group aims to extend its industrial chain into the non-ferrous and precious metal mining sectors through a cooperation agreement with a target company[14]. - The subsidiary in Tajikistan has shown steady growth during the fiscal year[8]. - The group will continue to participate in long-term contract businesses and seek new project opportunities in blasting operations and mining engineering services[8]. - The company sold a subsidiary that failed to renew a subcontract mining project to ensure a healthier structure for creating value for shareholders[13]. - A significant acquisition was made in 2018, acquiring 100% equity of Tibet Guangxu Industrial Co., Ltd., aimed at expanding operational scale[23]. - The company sold its entire equity interest in Ample Ocean International Limited for a cash consideration of USD 3,850,000 (approximately RMB 26,727,000)[23]. Corporate Governance - The chairman and CEO roles are separated and held by different individuals, ensuring clear leadership and management responsibilities[53]. - The board is responsible for reviewing and monitoring compliance with legal and regulatory policies[46]. - The company encourages all directors to participate in relevant training courses, with costs covered by the group[49]. - The company has complied with the corporate governance code regarding the separation of roles between the chairman and the CEO[54]. - The board of directors includes 3 executive directors and 3 independent non-executive directors, ensuring a diverse governance structure[124]. - The company has confirmed the independence of all independent non-executive directors as of the report date[125]. - The board has adopted a higher standard for securities trading by directors than that stipulated in the GEM Listing Rules[176]. Shareholder Relations and Dividends - A dividend of HKD 0.01 per share is proposed to share the group's achievements with all shareholders[10]. - The board proposed a final dividend of HKD 0.010 per share, consistent with the previous year's dividend[33]. - The company has a dividend policy that allows the board to declare dividends based on operational performance, cash flow, and future commitments[73]. - The board retains the discretion to update or cancel the dividend policy at any time without any legal obligation to declare dividends[76]. - The company maintains communication with shareholders through multiple channels, including announcements and quarterly reports available on its website[90]. - The company emphasizes the importance of good corporate governance to maintain investor confidence and attract investments[91]. Audit and Compliance - The consolidated financial statements for the year have been audited by Hong Kong Lixin Dehao CPA Limited[183]. - The audit committee assists the directors in overseeing the financial reporting process[200]. - The Audit Committee held a total of 4 meetings during the year, with all members attending all sessions[63]. - The Audit Committee reviewed the annual report and confirmed that the consolidated financial statements comply with applicable accounting standards and GEM Listing Rules[63]. - Management's evaluation of expected credit losses is considered a key audit matter due to the substantial judgment and estimates involved[193]. Employee and Director Remuneration - The total director remuneration for the year was approximately RMB 2,580,000, an increase from RMB 2,300,000 in the previous year[57]. - The company has a remuneration policy based on employee performance, qualifications, and market statistics[157]. - The board of directors and senior management's compensation is determined by the remuneration committee based on operational performance and individual contributions[158]. - The retirement benefit costs are detailed in the consolidated financial statements, indicating ongoing commitments to employee welfare[160]. Related Party Transactions - The company has complied with the disclosure requirements regarding related party transactions as per GEM Listing Rules Chapter 20[171]. - The independent non-executive directors confirmed that all continuing connected transactions were conducted in the ordinary and usual course of business and on normal commercial terms[172]. Environmental and Social Responsibility - The company has established a robust environmental management system and strictly adheres to environmental protection laws and regulations[181].

Financial Performance - The Group's revenue for the nine months ended 31 December 2019 was approximately RMB 1,527.96 million, representing an increase of approximately 47.27% compared to the same period in the previous fiscal year[7]. - Profit attributable to owners for the period was approximately RMB 155.66 million[9]. - Total comprehensive income attributable to owners for the period was approximately RMB 156.29 million[10]. - Basic profit per share for the period was approximately RMB 0.044[11]. - Gross profit for the nine months was approximately RMB 450.13 million, compared to RMB 299.72 million in the previous year[15]. - Operating profit for the period was approximately RMB 314.52 million, an increase from RMB 246.15 million in the previous year[15]. - Profit before income tax for the period was approximately RMB 310.67 million, compared to RMB 244.03 million in the previous year[15]. - The Group's total comprehensive income for the three months ended 31 December 2019 was approximately RMB 116.13 million[17]. - The revenue for the nine months ended December 31, 2019, increased by 47.27% compared to the same period in 2018, reaching RMB 1,527,960,000[60]. - The total turnover for the three months ended December 31, 2019, was RMB 829,949,000, compared to RMB 467,312,000 in the same period of 2018, reflecting a growth of 77.2%[37]. Dividend Policy - The Board does not recommend the payment of any dividend for the period[12]. - The company did not recommend any dividend for the nine months ended December 31, 2019, consistent with the previous year[47]. Revenue Sources - The sale of explosives generated RMB 560,235,000 for the nine months ended December 31, 2019, up from RMB 248,374,000 in the same period of 2018, representing a growth of 125.5%[34]. - The provision of blasting operations contributed RMB 966,619,000, an increase from RMB 789,177,000 in the previous year, marking a growth of 22.5%[35]. - For the nine months ended December 31, 2019, the Group's revenue increased by 47.27% compared to the same period in 2018, primarily due to significant contributions from the Tajikistan and Tibet markets[63]. Market Development - The company experienced a significant impact on income from civil explosives in Inner Mongolia due to environmental inspections last year, but no such issues occurred this year[61]. - The group has developed the Tajikistan and Tibet markets, which continue to contribute significantly to revenue[60]. Expenses and Liabilities - Selling and distribution expenses for the same period rose approximately 2.07 times compared to 2018, driven by increased sales of civil explosives and higher freight costs[62]. - As of December 31, 2019, the Group's current liabilities were approximately RMB 947.50 million, an increase from RMB 516.84 million as of March 31, 2019[65]. Assets and Employment - As of December 31, 2019, the Group's net assets amounted to approximately RMB 965.27 million, up from RMB 867.53 million as of March 31, 2019[65]. - Current assets as of December 31, 2019, were approximately RMB 1,626.12 million, compared to RMB 1,058.86 million as of March 31, 2019[65]. - As of December 31, 2019, the Group employed 652 full-time employees, a decrease from 2,189 as of March 31, 2019, due to the disposal of a subsidiary[82]. Corporate Strategy - The Group will focus on civil explosive business operations to generate substantial and sustainable profits moving forward[87]. - The Group's primary revenue comes from the civil explosive production and service business, which is expected to provide stable profits[90]. - The Group plans to continue focusing on the development of the civil explosive business, aiming for significant growth in this area[94]. - The Group's strategy includes a strong emphasis on expanding its civil explosive operations to enhance profitability[94]. Shareholding Structure - As of December 31, 2019, Mr. Liu Fali held 240,415,854 ordinary shares, representing approximately 6.76% of the total shareholding[98]. - The total number of ordinary shares held by parties to an agreement to acquire interests in the Company was 1,774,098,222, accounting for approximately 49.85%[101]. - The beneficial ownership of Ms. Ma Ye was reported at 124,005,000 ordinary shares, representing approximately 3.48%[101]. - The total number of issued shares of the Company as of December 31, 2019, was used to calculate the shareholding percentages[120]. Corporate Governance - The Company has complied with all code provisions set out in the Code on Corporate Governance Practices throughout the review period[128]. - The audit committee, composed of three independent non-executive Directors, reviewed the draft unaudited financial statements for the nine months ended 31 December 2019[139]. - The Company has established an audit committee to supervise financial reporting processes and internal control procedures[135]. - The Company has maintained a consistent governance structure and oversight mechanisms as per the GEM Listing Rules[131].

Financial Performance - The Group's revenue for the six months ended September 30, 2019, was approximately RMB 698.01 million, representing an increase of approximately 22.41% compared to the same period in the previous fiscal year[7][11]. - Profit attributable to owners for the Interim Period was approximately RMB 89.30 million[8][11]. - Total comprehensive income attributable to owners of the Company for the Interim Period was approximately RMB 92.21 million[8][11]. - Basic earnings per share for the Interim Period was approximately RMB 0.025[9][12]. - Gross profit for the six months ended September 30, 2019, was approximately RMB 209.52 million, with a gross profit margin of approximately 30%[15]. - Operating profit for the Interim Period was approximately RMB 171.81 million, an increase from RMB 142.98 million in the previous year[15]. - Profit before income tax for the Interim Period was approximately RMB 169.89 million, compared to RMB 141.63 million in the previous year[15]. - The Group recorded a profit for the period of approximately RMB 151.33 million, up from RMB 125.23 million in the previous year[15]. - Total comprehensive income for the period was approximately RMB 154.24 million, compared to RMB 124.94 million in the previous year[15]. Assets and Liabilities - As of September 30, 2019, total assets less current liabilities amounted to RMB 961,560,000, an increase from RMB 873,246,000 as of March 31, 2019[21]. - Net current assets were reported at RMB 588,822,000, compared to RMB 542,016,000 in the previous period[21]. - The company's net assets stood at RMB 865,846,000, slightly down from RMB 867,532,000 as of March 31, 2019[24]. - Total equity attributable to owners of the company was RMB 527,342,000, an increase from RMB 471,115,000 in the previous period[24]. - Current liabilities totaled RMB 703,930,000, up from RMB 516,841,000 as of March 31, 2019[21]. - Non-current liabilities, including borrowings, were RMB 95,714,000, with borrowings alone at RMB 90,000,000[24]. - Cash and cash equivalents reached RMB 1,292,752,000, compared to RMB 1,058,857,000 in the previous period[21]. - The company reported inventories of RMB 28,199,000, reflecting a significant increase in current assets[21]. - The total equity of the company was RMB 865,846,000, indicating a stable financial position despite minor fluctuations[24]. Cash Flow - Net cash generated from operating activities increased to RMB 45,375,000 for the six months ended September 30, 2019, compared to RMB 19,157,000 in the same period of 2018, representing a growth of 136.5%[32]. - Net cash used in investing activities was RMB (227,078,000) for the six months ended September 30, 2019, compared to RMB (28,043,000) in the previous year, reflecting a substantial increase in investment outflows[32]. - Net cash generated from financing activities amounted to RMB 268,138,000, a significant rise from RMB 13,329,000 in the same period of 2018[32]. - Cash and cash equivalents at the end of the period were RMB 177,331,000, compared to RMB 133,032,000 at the end of the same period in 2018, marking an increase of 33.3%[32]. - The effect of foreign exchange rate changes resulted in a decrease of RMB (2,374,000) in cash and cash equivalents during the period[32]. Revenue Breakdown - Revenue from the sale of explosives reached RMB 177,512,000, while blasting operations contributed RMB 519,688,000, showing significant contributions to total revenue[38]. - The Group's external sales for the segment of explosives trading and blasting services contributed significantly to the overall revenue, with total segment revenue reported at RMB 698,011,000[43]. - For the six months ended September 30, 2019, the consolidated revenue from external sales was RMB 309,180,000, compared to RMB 308,369,000 for the same period in 2018, reflecting a slight increase[51]. - Revenue for the six months ended September 30, 2019, increased by 22.41% compared to the same period in 2018, primarily due to contributions from the Tajikistan and Tibet markets[101]. Expenses and Costs - Selling and distribution expenses for the same period increased by approximately 1.72 times compared to 2018, driven by a significant rise in civil explosives sales and associated freight costs[101]. - The Group's finance costs for the period were RMB 1,918,000, reflecting the cost of financing activities during the reporting period[45]. - Finance costs for the six months ended September 30, 2019, amounted to RMB 1,589,000, compared to RMB 1,355,000 for the same period in 2018, representing an increase of approximately 17.3%[67]. - The current tax for the period was RMB 18,565,000, up from RMB 16,393,000 in the previous year, indicating an increase of approximately 13.3%[64]. Corporate Structure and Governance - The Company complied with all code provisions set out in the Code on Corporate Governance Practices throughout the review period[157]. - The Company adopted a code of conduct regarding Directors' securities transactions that meets or exceeds the required standards, with no reported non-compliance during the six months ended September 30, 2019[161]. - An audit committee was established to review and supervise the financial reporting processes and internal control procedures of the Group, composed of three independent non-executive Directors[162]. Shareholder Information - As of September 30, 2019, Mr. Liu Fali held 240,415,854 ordinary shares, representing approximately 6.76% of the total shareholding[130]. - The interests of parties to an agreement to acquire interests in the Company amounted to 1,773,578,222 ordinary shares, which is approximately 49.83% of the total shareholding[132]. - As of September 30, 2019, Mr. Ma Qiang held interests in 1,897,583,222 ordinary shares, representing 53.32% of the company's total shareholding[144]. - Shiny Ocean is the beneficial owner of 1,360,996,331 ordinary shares, accounting for 38.24% of the total shareholding[144]. - Ms. Ma Xia owns 172,166,037 ordinary shares, which is approximately 4.84% of the total shareholding[144]. - Mr. Yang Tao holds 273,839,268 ordinary shares, representing 7.70% of the total shareholding[149]. - Mr. Li Man owns 272,739,268 ordinary shares, which is about 7.66% of the total shareholding[149]. - Mr. Lyu Wenhua has interests in 240,415,854 ordinary shares, accounting for 6.76% of the total shareholding[149]. - Crystal Sky Development Inc. has interests in 34,024,908 shares, equally owned by Ms. Qin and her husband[138]. - Fabulous Seeker Holdings Limited holds 80,811,927 shares, with Mr. Xiong Zeke deemed to be interested in all these shares[138]. - As of September 30, 2019, no directors or chief executives had any interests or short positions in shares that required disclosure under the SFO[140]. - The report indicates that substantial shareholders are expected to be interested in 10% or more of the nominal value of any class of share capital[142]. Employee Information - As of September 30, 2019, the Group had 652 full-time employees, a decrease from 2,189 on March 31, 2019[121]. - Staff remuneration packages are determined based on prevailing market rates, including mandatory provident fund and discretionary bonuses[121]. - The Company reported a significant focus on attracting suitable personnel to promote further development[124]. Strategic Initiatives - The Group aims to create value for shareholders through strategic restructuring and operational focus[124]. - The Group plans to continue focusing on the development of its civil explosive business moving forward[124]. - The Share Award Scheme was adopted on July 8, 2019, to reward eligible participants for their contributions to the Group's growth[124]. - On July 24, 2019, the Company sold a subsidiary that failed to renew a subcontracted mining project to ensure a healthier corporate structure[124].

Financial Performance - The Group's turnover for the quarter ended June 30, 2019, was approximately RMB 388.83 million, representing an increase of approximately 44.41% compared to the corresponding period in the previous fiscal year[8]. - Profit attributable to owners for the quarter was approximately RMB 51.37 million, with a total comprehensive income attributable to owners of approximately RMB 53.65 million[10]. - Basic and diluted earnings per share for the quarter was approximately RMB 0.014, an increase from RMB 0.009 in the previous year[11][16]. - The Group recorded a gross profit of approximately RMB 128.71 million for the quarter, compared to RMB 76.64 million in the same period last year[15]. - The total comprehensive income for the period, net of tax, was approximately RMB 88.85 million, up from RMB 55.19 million in the previous year[16]. - The Group's profit before income tax for the quarter was approximately RMB 97.95 million, compared to RMB 59.55 million in the previous year[15]. - The Group's operating profit was approximately RMB 98.28 million, an increase from RMB 60.11 million in the same period last year[15]. Revenue Sources - The Group's revenue from principal activities is consistent with the reported turnover, indicating stable business operations[21]. - Sales of civil explosives reached RMB 165,394,000 for the three months ended June 30, 2019, compared to RMB 50,215,000 in 2018, marking a significant increase[22]. - Provision of blasting operations generated RMB 223,437,000 in revenue for the three months ended June 30, 2019, slightly up from RMB 219,044,000 in 2018[22]. - The Group's turnover for the three months ended June 30, 2019, increased by approximately 44.41% compared to the same period in 2018, primarily due to the development of the Tajikistan and Tibet markets[38]. Expenses and Financial Management - Selling and distribution expenses increased approximately 3.47 times compared to the same period in 2018, mainly due to increased domestic sales of civil explosives and the operation of the Tajikistan subsidiary[38]. - The Board does not recommend the payment of any dividend for the Quarterly Period[12]. Corporate Governance and Oversight - The quarterly report is unaudited but has been reviewed by the audit committee of the Company, ensuring a level of oversight[18]. - The audit committee, consisting of three Independent Non-Executive Directors, reviewed the Group's unaudited financial statements for the three months ended June 30, 2019[72][74]. - The Company has complied with all code provisions set out in the Code on Corporate Governance Practices throughout the review period[67]. - There were no significant competitive interests reported by Directors or controlling shareholders during the three months ended June 30, 2019[66]. - The Company adopted a code of conduct for Directors' securities transactions that exceeds the required standards set out in the GEM Listing Rules[68][69]. Shareholding Structure - As of June 30, 2019, Mr. Liu Fali held 240,415,854 ordinary shares, representing approximately 6.76% of the company's shareholding[45]. - As of June 30, 2019, Ms. Ma Ye held 124,005,000 ordinary shares, representing approximately 3.48% of the company's shareholding[48]. - The total interests of parties to an agreement to acquire interests in the company amounted to 1,773,578,222 ordinary shares, representing approximately 49.83%[48]. - Mr. Xiong Zeke held 80,811,927 ordinary shares, representing approximately 2.27% of the company's shareholding[44]. - Ms. Qin Chunhong held 34,024,908 ordinary shares, representing approximately 0.96% of the company's shareholding[45]. - The company reported a beneficial ownership of 11,393,333 ordinary shares by Mr. Xiong Zeke, representing approximately 0.32%[44]. - As of June 30, 2019, Mr. Ma Suocheng held 1,897,583,222 ordinary shares, representing 53.32% of the company[55]. - Shiny Ocean is a beneficial owner of 1,360,996,331 ordinary shares, accounting for 38.24% of the total shares[54]. - The Ma Family Holdings Co. Limited also holds 1,360,996,331 ordinary shares, equivalent to 38.24% of the company's shareholding[54]. - Ms. Ma Xia owns 172,166,037 ordinary shares, which is 4.84% of the total shares[55]. - Mr. Ma Qiang, as the founder of a discretionary trust, holds 1,360,996,331 ordinary shares, representing 38.24%[56]. - Mr. Yang Tao is a beneficial owner of 273,439,268 ordinary shares, which is 7.68% of the total shares[56]. - Mr. Li Man holds 272,739,268 ordinary shares, accounting for 7.66% of the company's shares[56]. - Mr. Lv Wenhua owns 240,415,854 ordinary shares, representing 6.76% of the total shares[56]. - The total number of shares held by substantial shareholders indicates a concentrated ownership structure within the company[52]. - As of June 30, 2019, no other directors or chief executives had interests or short positions in the company's shares[52]. Strategic Initiatives - The Group has entered into a Capital Injection and Cooperation Agreement to extend its industrial chain into non-ferrous and precious metals mining and development industries[39]. - The Company adopted a Share Award Scheme to reward contributions from eligible participants and attract suitable personnel for further development[40]. - The company signed a sale agreement to divest a subsidiary that failed to renew a subcontracted mining project, aiming for a healthier corporate structure[41]. - The company signed an investment and cooperation agreement with a mining company on June 29, 2019, aiming to extend its industrial chain into non-ferrous and precious metal mining[43]. - A share incentive plan was adopted on July 8, 2019, to reward and motivate participants contributing to the group's growth and development[43]. - The company sold a subsidiary that failed to renew a mining subcontracting project for the year, ensuring a healthier structure for shareholder value creation[43]. Share Transactions - For the three months ended June 30, 2019, the Company did not purchase, sell, or redeem any of its listed shares, consistent with the same period in 2018[64][65].

Financial Performance - The group's total revenue for the fiscal year ending March 31, 2019, was approximately RMB 1.557 billion, representing an increase of about 38.42% compared to the previous year[14]. - Total revenue for the year ended March 31, 2019, was RMB 1,556,596 thousand, an increase from RMB 1,124,581 thousand in 2018, representing a growth of approximately 38.4%[198]. - Gross profit for the year was RMB 453,821 thousand, up from RMB 397,300 thousand in the previous year, indicating a growth of about 14.2%[198]. - Operating profit increased to RMB 349,656 thousand from RMB 303,432 thousand, reflecting a rise of approximately 15.2%[198]. - Net profit for the year was RMB 307,973 thousand, compared to RMB 260,522 thousand in 2018, marking an increase of around 18.2%[198]. - The company reported a decrease in financing costs to RMB (2,604) thousand from RMB (3,631) thousand, showing a reduction of about 28.3%[198]. - Other income increased to RMB 12,721 thousand from RMB 6,346 thousand, representing a growth of approximately 100.5%[198]. - The total comprehensive income for the year was RMB 304,836 thousand, up from RMB 258,514 thousand in 2018, indicating an increase of about 17.9%[198]. - The company recognized a foreign exchange loss of RMB (3,817) thousand related to the translation of overseas operations, compared to a loss of RMB (2,008) thousand in the previous year[198]. - The share of profits from associates was RMB 12,390 thousand, a significant increase from RMB 4,619 thousand in 2018[198]. Revenue Breakdown - Revenue from the sale of explosives increased slightly by 10.51%, while revenue from blasting services surged by approximately 72.73%, accounting for 61.66% of the total revenue[12]. - The company's total revenue for the year was approximately RMB 1,556,596,000, with explosive products contributing 38.34% and blasting services contributing 61.66%[15]. - The blasting services segment has shown significant growth, indicating a successful transition from the first to the second industrial chain[12]. - The company reported revenue from sales of civil explosives to Ordos Beinan amounting to approximately RMB 166,830,000, which did not exceed the annual cap of RMB 227,000,000 for the year[157]. - The supply of civil explosives from Ordos Beinan to the company was valued at approximately RMB 67,670,000, remaining below the annual limit of RMB 100,000,000 for the year[157]. Dividends and Shareholder Returns - A final dividend of HKD 0.01 per share is proposed, reflecting the group's rapid profit growth and commitment to sharing results with shareholders[9]. - The interim dividend per share was HKD 0.005, up from HKD 0.003 in 2018, with a proposed final dividend of HKD 0.01, compared to HKD 0.005 in 2018[30]. - The company has established a dividend policy to allow shareholders to participate in profits while retaining sufficient reserves for future growth[67]. - The board of directors has full discretion to update or cancel the dividend policy at any time, with no legal obligation to declare dividends in the future[69]. Corporate Governance - The board of directors consists of nine members, with regular meetings held to discuss operational strategies and financial performance[35]. - The total number of board meetings held during the year was 8, with an average attendance rate of 100%[42]. - The company has established a remuneration committee consisting of three independent non-executive directors and one executive director[49]. - The chairman and CEO roles are separated, with Mr. Xiong Zekai as chairman and Mr. Liu Fali as CEO[47]. - The audit committee held a total of 4 meetings during the year, with all members attending all sessions[57]. - The company encourages all directors to participate in relevant training courses, with costs covered by the group[44]. - The independent non-executive directors confirmed their independence according to GEM Listing Rules[44]. - The company has a nomination committee responsible for reviewing the board's structure and recommending suitable candidates for directorship[60]. - The company has achieved measurable goals for board diversity, ensuring at least one-third of board members are independent non-executive directors[77]. - The board diversity policy considers factors such as gender, age, cultural and educational background, professional experience, skills, and knowledge[77]. Assets and Liabilities - As of March 31, 2019, the company's equity was approximately RMB 867,530,000, an increase from RMB 602,730,000 in 2018[23]. - The current assets were approximately RMB 1,059,000,000, compared to RMB 680,900,000 in 2018, with cash and cash equivalents at approximately RMB 93,270,000[23]. - The company's debt-to-asset ratio decreased to 2.88% from 8.04% in 2018, attributed to the repayment of bank loans and increased profits[24]. - The company has no significant contingent liabilities as of March 31, 2019, consistent with the previous year[29]. Employee and Management Information - The company employed 2,189 full-time employees across China, Tajikistan, and Hong Kong, an increase from 2,014 in 2018[31]. - The total remuneration for directors for the year was approximately RMB 2,300,000, an increase from RMB 2,120,000 in the previous year[51]. - The company's senior management compensation was categorized, with three individuals earning up to HKD 1 million[116]. Environmental and Compliance - The group has a robust environmental management system and complies with environmental protection laws and regulations issued by the Chinese government[168]. - The independent auditor confirmed that the financial statements reflect the group's financial position and performance accurately as of March 31, 2019[174]. - The company has maintained a public float of at least 25% of its total issued share capital prior to the publication of the annual report[164]. - The company has complied with the GEM Listing Rules regarding the disclosure of related party transactions[159]. Strategic Development - The group plans to continue developing its existing civil blasting and mining engineering businesses, with a focus on expanding production bases in Inner Mongolia and Tajikistan[8]. - The group aims to explore vertical development opportunities by extending its industrial chain into non-ferrous and precious metal mining sectors[13]. - The group has successfully expanded its explosives business in Tajikistan, benefiting from the "Belt and Road" policy[7]. - The group will actively seek acquisition and merger opportunities to expand its market presence[8]. - The group intends to leverage its experience in mining engineering to explore new profit growth points[8]. Related Party Transactions - The company has not entered into any significant contracts with its controlling shareholders during the year[118]. - The independent non-executive directors confirmed that all continuing connected transactions were conducted in the ordinary course of business and on normal commercial terms[161].

Pizu Group Holdings Limited (Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立之有限公司) Stock Code 股份代號 : 8053 Third Quarterly Report 第三季度業績報告 2018/2019 CHARACTERISTICS OF GEM OF THE STOCK EXCHANGE OF HONG KONG LIMITED (THE "STOCK EXCHANGE") GEM has been positioned as a market designed to accommodate small and mid-sized companies to which a higher investment risk may be attached than other companies listed on the Stock Exchange. Prospective investors should be aware of the potential risks o ...