Financial Performance - Revenue for the nine months ended December 31, 2022, was HK$42,438,000, a decrease of 8.6% compared to HK$46,446,000 for the same period in 2021[9]. - Gross profit for the nine months ended December 31, 2022, was HK$4,130,000, down 54.0% from HK$8,974,000 in the previous year[9]. - Loss before tax for the nine months was HK$17,171,000, compared to a loss of HK$9,943,000 for the same period in 2021, representing a 72.5% increase in losses[11]. - Loss attributable to owners of the Company for the period was HK$17,171,000, which is a 72.5% increase from HK$9,943,000 in the prior year[11]. - Basic and diluted loss per share for the nine months was HK$0.11, compared to HK$0.06 for the same period in 2021[11]. - The Company reported a total comprehensive loss for the period attributable to owners of HK$17,030,000, compared to HK$9,946,000 in the previous year, indicating a 71.1% increase in comprehensive losses[11]. - The accumulated losses increased from HK$121,834,000 at the end of 2021 to HK$150,130,000 by December 31, 2022, reflecting a rise of about 23%[14]. - The Group recorded a loss of approximately HK$17 million for the nine months ended December 31, 2022, compared to a loss of approximately HK$9.9 million in the same period last year, reflecting an increase of approximately HK$7.1 million[97]. Revenue Breakdown - Revenue from design, fitting out, and engineering services for the nine months ended December 31, 2022, was HK$35,408,000, up from HK$26,828,000 in 2021, reflecting a growth of 32.1%[34]. - Revenue from leasing of construction equipment for the three months ended December 31, 2022, decreased to HK$1,600,000 from HK$4,261,000 in 2021, a decline of 62.5%[34]. - The sale of fine and rare wines generated revenue of HK$807,000 for the three months ended December 31, 2022, compared to HK$109,000 in 2021, marking a significant increase of 640.4%[34]. - Revenue generated from Hong Kong was approximately HK$41.5 million, down from HK$45.1 million in the previous year, while revenue from the PRC decreased from HK$1.3 million to HK$972,000[80]. - Revenue from public housing maintenance, improvement, and vacant flat refurbishment works amounted to approximately HK$27.4 million, representing an increase of approximately 119% compared to the last corresponding period[98]. Expenses and Costs - Administrative expenses increased to HK$20,276,000 for the nine months, up from HK$18,818,000 in the previous year, reflecting a rise of 7.7%[9]. - Finance costs for the nine months ended December 31, 2022, amounted to HK$621,000, up from HK$431,000 in the same period of 2021, indicating a rise of approximately 44%[47]. - The increase in loss was also due to a rise in project management fees by approximately HK$2.0 million and a one-off allowance for settlement of trade receivables of approximately HK$1.0 million[94]. - The Group's gross profit for the period was approximately HK$4.1 million, down by approximately HK$4.9 million from HK$9.0 million in the previous year, resulting in a gross profit margin of approximately 10%[85]. Compliance and Governance - The financial statements for the nine months ended December 31, 2022, were prepared in accordance with Hong Kong Financial Reporting Standards (HKFRSs) and GEM Listing Rules, ensuring compliance with regulatory requirements[17]. - The Group's auditor reported unqualified opinions on the consolidated financial statements for the year ended March 31, 2022, indicating a clean audit without significant issues[24]. - The Company has established an audit committee, a remuneration committee, a nomination committee, and a compliance committee in accordance with the GEM Listing Rules[186]. - The Audit Committee, comprising three independent non-executive directors, is responsible for reviewing the Group's financial reporting process and internal control systems[191]. Future Outlook - The Group expects steady growth in revenue from public housing maintenance, improvement, and vacant flat refurbishment works, which will provide a sustainable income stream in the long run[99]. - The Group is optimistic about the recovery of the local economy and the gradual increase in construction works over time following the relaxation of COVID-19 restrictions[106]. - The Group has commenced a waterproofing works and maintenance services contract from the Housing Authority, expected to be completed in the coming quarter or early next financial year[100]. Share Capital and Dividends - The Group's share capital as of 31 December 2022 was HK$205,523,000, with 156,780,000 ordinary shares issued and fully paid[67]. - No dividends were recommended for the nine months ended 31 December 2022, consistent with the previous year where no dividends were declared[63]. - The Group does not recommend the payment of any dividend for the nine months ended December 31, 2022[138]. Employee and Operational Metrics - As of December 31, 2022, the Group employed 35 employees, a decrease from 45 employees as of December 31, 2021[144]. - Total remuneration for the nine months ended December 31, 2022, was approximately HK$8.6 million, down from HK$9.1 million for the same period in 2021, primarily due to a decrease in staff numbers[145]. Risk Management - The Company has acknowledged the potential risks associated with investing in small and mid-sized companies listed on GEM, which may experience higher market volatility[2]. - The Group conducts regular reviews and follow-up actions on overdue amounts to minimize credit risk exposure[131]. - The Group's loan portfolio is monitored monthly, and an aging analysis of debtors is prepared to mitigate credit risk[131].

Rental Expenses - The company reported a total rental expense of HKD 975,000 related to office properties for the six months ended September 30, 2022, compared to HKD 0 for the same period in 2021[4] Commission Income - Commission income from related parties was recorded at HKD (24,000) for the six months ended September 30, 2022, a decrease from HKD (13,000) in the previous year[4] Financial Information Accuracy - The announcement clarifies that the financial information provided is accurate and complete, with no misleading or fraudulent elements[7]

Financial Performance - Revenue for the six months ended September 30, 2022, was HK$25,190,000, a decrease of 22.9% compared to HK$32,644,000 for the same period in 2021[9]. - Gross profit for the six months was HK$2,623,000, down 55.7% from HK$5,924,000 in the previous year[9]. - Loss before tax for the six months was HK$11,959,000, compared to a loss of HK$6,839,000 for the same period in 2021, representing a 75.5% increase in losses[11]. - Loss attributable to owners of the Company for the period was HK$11,959,000, compared to HK$6,839,000 in the previous year, indicating a significant increase in losses[11]. - Basic and diluted loss per share for the six months was HK$0.08, compared to HK$0.04 for the same period in 2021[11]. - The Company reported a total comprehensive loss for the period attributable to owners of the Company of HK$11,806,000, compared to HK$6,840,000 in the previous year[11]. - The Group recorded a loss for the period of approximately HK$12.0 million, an increase from HK$6.8 million in the same period last year[147]. - The increase in loss was attributed to a decrease in gross profit of approximately HK$3.3 million and an increase in project management fees of approximately HK$1.1 million[148]. Revenue Breakdown - The Group's revenue includes income from design, fitting out, engineering, rental services, sale of fine wines, and interest income from money lending[42]. - For the three months ended September 30, 2022, revenue from design, fitting out, and engineering services increased to HK$10,920,000, up 24.3% from HK$8,788,000 in the same period of 2021[45]. - Revenue from leasing of construction equipment for the six months ended September 30, 2022, was HK$3,901,000, down 43.0% from HK$6,852,000 in the same period of 2021[49]. - Revenue from the sale of fine and rare wines significantly decreased to HK$283,000 for the six months ended September 30, 2022, from HK$7,979,000 in the same period of 2021, representing a decline of 96.5%[49]. - The financial services segment generated revenue of HK$296,000 for the six months ended September 30, 2022, compared to HK$279,000 in the same period of 2021, indicating a slight increase[51]. - Revenue from design, fitting out and engineering services increased by approximately 18% to HK$20.7 million, up from HK$17.5 million in the previous year[134]. - The leasing of construction equipment business generated revenue of approximately HK$3.9 million, a decrease of approximately HK$3 million from HK$6.9 million in the last corresponding period[134]. - Revenue from wine merchandising dropped significantly from approximately HK$8.0 million to approximately HK$0.3 million due to resource reallocation[135]. Expenses and Costs - Administrative expenses increased to HK$13,843,000 for the six months, up from HK$12,562,000 in the previous year, reflecting a rise of 10.2%[9]. - The cost of inventories sold for the six months ended 30 September 2022 was HK$5,026,000, down from HK$9,740,000 in 2021, showing a decrease of 48.3%[68]. - The total salaries, wages, and other benefits (excluding directors' emoluments) for the six months ended 30 September 2022 were HK$2,857,000, down from HK$3,138,000 in 2021, indicating a decrease of 8.9%[68]. - Central administrative costs for the six months ended September 30, 2022, were HK$3,927,000, slightly lower than HK$4,887,000 in the same period of 2021[49]. - Depreciation of property, plant, and equipment for the six months ended 30 September 2022 was approximately HK$3,371,000, a slight decrease from HK$3,470,000 in 2021, representing a reduction of 2.9%[69]. Assets and Liabilities - As of September 30, 2022, total assets less current liabilities amounted to HK$74,021,000, a decrease from HK$82,320,000 as of March 31, 2022, reflecting a decline of approximately 10.5%[14]. - The net current assets as of September 30, 2022, were HK$12,609,000, down from HK$14,024,000 as of March 31, 2022, indicating a decrease of about 10.1%[14]. - The company’s total equity as of September 30, 2022, was HK$60,604,000, down from HK$72,410,000 as of March 31, 2022, indicating a decrease of approximately 16.3%[16]. - Total assets as of September 30, 2022, amounted to HK$91,328,000, a decrease from HK$102,214,000 as of March 31, 2022[55]. - Current assets as of September 30, 2022, were HK$22,413,000, compared to HK$26,644,000 for the same period in 2021, reflecting a decline of approximately 16.5%[61]. - Total liabilities as of September 30, 2022, were HK$30,724,000, slightly increased from HK$29,804,000 as of March 31, 2022[55]. - Non-current assets as of September 30, 2022, totaled HK$29,474,000, a decrease from HK$35,446,000 as of March 31, 2022[55]. - Current liabilities as of September 30, 2022, were HK$9,228,000, compared to HK$12,384,000 for the same period in 2021, indicating a decrease of approximately 25.5%[55]. Cash Flow and Financing - Cash and cash equivalents at the end of the period were HK$6,394,000, a decrease from HK$9,013,000 at the end of the same period in 2021, reflecting a decline of about 29.1%[22]. - The net cash used in operating activities for the six months ended September 30, 2022, was HK$2,534,000, an improvement compared to HK$3,228,000 for the same period in 2021[22]. - The Group's cash flow from financing activities for the six months ended September 30, 2022, was HK$2,311,000, a significant improvement from a cash outflow of HK$3,838,000 for the same period in 2021[22]. - The Group's borrowings included lease liabilities of approximately HK$13.0 million and interest-bearing borrowings of HK$5 million as of September 30, 2022[188]. - The gearing ratio was approximately 29.7% as of September 30, 2022, an increase from 14.5% on March 31, 2021, primarily due to increased interest-bearing borrowings[188]. Risk Management and Compliance - The Company has acknowledged the potential risks associated with investing in small and mid-sized companies listed on GEM, which may experience higher market volatility[2]. - The report confirms that the information provided is accurate and complete in all material respects, with no misleading or deceptive statements[5]. - The Group's financial statements are based on historical cost, except for investment properties measured at fair value[30]. - The Group has complied with the Companies Ordinance requirements for financial statement disclosures[31]. - The Group is assessing the impact of new/revised HKFRSs that are not yet effective, with management believing they will not significantly affect future financial statements[38][40]. Dividends and Share Capital - The Directors did not recommend the payment of an interim dividend for the six months ended September 30, 2022, consistent with the previous year[82]. - The total number of issued ordinary shares remained at 156,780,000 as of September 30, 2022[119].

Financial Performance - Revenue for the three months ended June 30, 2022, was HK$11,716,000, a decrease of 27.3% compared to HK$16,205,000 for the same period in 2021[9] - Gross profit for the same period was HK$1,090,000, down 60.0% from HK$2,720,000 in 2021[9] - Loss before tax increased to HK$5,988,000 for the three months ended June 30, 2022, compared to a loss of HK$3,430,000 in the prior year, representing a 74.5% increase[11] - Total comprehensive loss attributable to owners of the Company for the period was HK$5,860,000, compared to HK$3,431,000 in the same period last year, indicating a 70.9% increase[11] - Basic and diluted loss per share for the period was HK$0.04, compared to HK$0.02 in the previous year, reflecting a 100% increase in loss per share[11] - The Group's accumulated losses as of June 30, 2022, were HK$138,947,000, compared to HK$115,321,000 at the same time in 2021[13] - The Group reported a segment loss of HK$4,137,000 for the three months ended June 30, 2022, compared to a loss of HK$1,213,000 for the same period in 2021[44] - Loss attributable to owners of the Company for the three months ended June 30, 2022, was HK$5,988,000, compared to HK$3,430,000 in 2021[64] - The Group recorded a loss of approximately HK$6 million for the three months ended 30 June 2022, an increase of approximately HK$2.6 million from a loss of HK$3.4 million in the same period in 2021[101] Revenue Breakdown - The Group's revenue for the three months ended June 30, 2022, includes income from design, fitting out, engineering, procurement of furnishings, rental and installation services, sale of fine wines, and interest income from money lending[30] - Revenue from design, fitting out, and engineering services was HK$9,790,000, up 11.9% from HK$8,746,000 in the previous year[36] - Revenue from leasing construction equipment decreased to HK$1,660,000, down 50% from HK$3,325,000 year-on-year[36] - Sale of fine and rare wines generated revenue of HK$125,000, a significant decline of 96.9% from HK$3,991,000 in the same period last year[36] - Revenue from the leasing of construction equipment was approximately HK$1.7 million, down approximately HK$1.6 million from HK$3.3 million in the previous year, attributed to delays caused by COVID-19[86] - Revenue from the sourcing and merchandising of fine and rare wines dropped significantly to HK$125,000 from HK$3.99 million, a decrease of approximately HK$3.9 million[87] - Revenue from design, fitting out, and engineering services increased by approximately HK$1.0 million to approximately HK$9.8 million compared to HK$8.8 million in the previous year[89] Expenses and Costs - Administrative expenses for the three months ended June 30, 2022, were HK$6,369,000, slightly up from HK$6,230,000 in 2021[9] - Unallocated central administrative costs amounted to HK$1,972,000, contributing to the overall loss before tax of HK$5,988,000[41] - Total salaries and wages included in cost of sales/services rendered rose to HK$569,000 in 2022 from HK$420,000 in 2021[53] - Cost of inventories sold decreased significantly to HK$2,100,000 in 2022 from HK$4,848,000 in 2021, indicating improved inventory management[53] Financial Position - As of June 30, 2022, the Group's net current assets were approximately HK$15.0 million, an increase from HK$14.0 million as of March 31, 2022[121] - The current ratio improved to approximately 1.8 times as of June 30, 2022, compared to 1.7 times as of March 31, 2022[121] - Total equity attributable to owners of the Company decreased to approximately HK$66.6 million as of June 30, 2022, down from HK$72.4 million as of March 31, 2022[125] - The Group's gearing ratio increased to approximately 29.7% as of June 30, 2022, compared to 21.3% as of March 31, 2022, due to additional borrowings[126] Governance and Compliance - The financial statements have been prepared in accordance with Hong Kong Financial Reporting Standards (HKFRSs) and comply with the GEM Listing Rules[16] - The Group has adopted new/revised HKFRSs effective from April 1, 2022, but these have had no material effect on the reported amounts[28] - The auditor's report for the year ended March 31, 2022, was unqualified and did not contain any emphasis of matter[23] - The Audit Committee reviewed the unaudited condensed consolidated financial statements for the three months ended June 30, 2022, ensuring compliance with applicable accounting standards and GEM Listing Rules[175] - The Company has established an audit committee, a remuneration committee, a nomination committee, and a compliance committee as per GEM Listing Rules[170] - The Company has adopted the principles and code provisions of the Corporate Governance Code to ensure proper regulation of business activities[170] - The Company has internal policies in place to ensure compliance with the Corporate Governance Code[173] Market and Future Outlook - The Company continues to face high market volatility risks associated with being listed on the GEM of the Stock Exchange of Hong Kong[2] - The Group is currently assessing the impact of new accounting standards that will be effective from January 1, 2023, but does not expect significant effects on the financial statements[32] - The Group is actively seeking new projects and negotiating with contractors to improve the lease out rate of scaffolding equipment[113] - The Group expects the leasing of scaffolding equipment to become a steady and sustainable business as the COVID-19 pandemic stabilizes and the local economy recovers[116] - Forward-looking statements regarding business development are not guaranteed to be attainable or accurate, and caution is advised for shareholders and potential investors[176] Shareholder Information - As of June 30, 2022, Hong Kong ChaoShang Group Limited holds 43,122,600 shares, representing approximately 27.57% of the issued shares[144] - The total number of shares available for issue under the share option scheme is 3,000,000 shares, which is 10% of the issued shares as of the listing date[153] - As of June 30, 2022, the total number of shares represented by options granted and to be granted under the scheme shall not exceed 1% of the total number of shares in issue, equating to 1,567,800 shares[154] - No share options have been granted by the company since the adoption of the share option scheme[155] - During the three months ended June 30, 2022, no directors dealt in the shares of the company[157] - During the three months ended June 30, 2022, the Company and its subsidiaries did not purchase, sell, or redeem any of the Company's securities[161] - The Company maintained the public float required by the GEM Listing Rules during the three months ended June 30, 2022[163] - No equity-linked agreements were entered into by the Group during the three months ended June 30, 2022[162]

Financial Performance - The Group recorded a turnover of approximately HK$57.7 million for the year ended 31 March 2022, representing a decrease of approximately 13.6% compared to the previous year[15]. - The Group incurred a loss of approximately HK$21.1 million, which included approximately HK$6.2 million from non-cash items such as allowances for expected credit loss and impairment of intangible assets[15]. - Revenue from design, fitting out, and engineering services decreased from approximately HK$36.8 million to approximately HK$33.8 million due to customer sentiment affected by the COVID-19 pandemic[16]. - Income from leasing construction equipment increased by approximately 54.7% to approximately HK$13.3 million compared to approximately HK$8.6 million in the previous year[17]. - The total revenue for the year ended March 31, 2022, was approximately HK$57.7 million, representing a decrease of about HK$9.1 million or 13.6% compared to the previous year[36]. - Revenue from the sourcing and merchandising of fine and rare wines decreased by approximately 51.5%, from HK$20.6 million in the previous year to HK$10.0 million[21]. - Gross profit for the year ended 31 March 2022 was approximately HK$9.9 million, a decrease of approximately 15.4% from HK$11.7 million in the previous year[43][46]. - The loss for the year was approximately HK$21.1 million, an increase of approximately HK$1.7 million compared to HK$19.4 million in the previous year[50][54]. - The revenue from public housing maintenance, improvement, and vacant flat refurbishment works amounted to approximately HK$15.8 million, representing a growth of approximately 135.8% compared to the previous year[56][59]. Impact of COVID-19 - The Group's operations were impacted by the COVID-19 pandemic, leading to delays and postponements of certain projects and affecting customer consumption[14]. - The overall economic slowdown and the erratic development of the COVID-19 pandemic have influenced the Group's performance[14]. - The Group's scaffolding equipment leasing business experienced a decline in lease-out rates in the last quarter due to project delays caused by the pandemic, but management is negotiating new projects to maintain lease rates[63]. - The management expects steady growth in rental income from the leasing of construction equipment once the COVID-19 pandemic stabilizes, positioning it as a major business segment in the coming years[64]. - The Group has implemented various health and safety measures in response to the COVID-19 pandemic, including mandatory mask-wearing and temperature checks at work sites[106]. - The Group encourages employee participation in the COVID-19 Vaccination Programme implemented by the Government of the HKSAR[106]. Business Strategy and Operations - The Group successfully bidded for new projects and explored new customers during the year[16]. - The Group continued to work on term contracts related to public housing refurbishment and maintenance subcontracting services[16]. - The Group expects leasing of construction equipment to be a sustainable income stream if the COVID-19 pandemic stabilizes, although a drop in rental income is anticipated in the coming quarter due to project delays[17]. - The Group is optimistic about the recovery of the economic condition in Hong Kong and plans to continue pursuing contracts in design, fitting out, engineering services, and construction equipment leasing[22]. - The Group is in negotiations for new term contracts and is seeking new contractors for both private and public sector projects[23]. - The Group is actively negotiating with contractors for new term contracts to expand operations in the design, fitting out, and engineering services business[58][59]. - The Group is actively negotiating with existing contractors to expand its project portfolio and enhance its brand reputation, aiming for sustainable revenue growth in the design and engineering services sector[60]. - The Group continues to focus on developing its core business while exploring other investment opportunities to broaden its revenue base[25]. Financial Position and Equity - As of March 31, 2022, the Group's net current assets were approximately HK$14.0 million, down from HK$25.0 million in the previous year, with cash and bank balances decreasing to HK$6.2 million from HK$16.7 million[71]. - The current ratio decreased to approximately 1.7 times as of March 31, 2022, from 2.4 times in the previous year, primarily due to reduced cash and bank balances[72]. - Total equity attributable to the owners of the Company decreased to approximately HK$72.4 million as of March 31, 2022, from HK$93.5 million in the previous year[73]. - The Group's gearing ratio increased to approximately 21.3% as of March 31, 2022, from 14.5% in the previous year, attributed to new lease liabilities and a drop in shareholder equity[74]. Corporate Governance - The company has adopted the principles and code provisions of the Corporate Governance Code to ensure proper regulation of business activities and decision-making processes[139]. - The company established an audit committee, a remuneration committee, a nomination committee, and a compliance committee in accordance with GEM Listing Rules[139]. - The role of chief executive has been vacant since February 21, 2020, but the division of responsibilities among directors has mitigated any material impact on operations[140]. - The company has complied with the Corporate Governance Code during the year ended March 31, 2022, except for the vacancy of the chief executive position[140]. - The board believes that incorporating good corporate governance elements can balance the interests of shareholders, customers, and employees[139]. - The Company has arranged appropriate insurance covering liabilities against Directors arising from corporate activities, reviewed annually[173]. - The Company ensures that newly appointed Directors receive comprehensive induction to understand business operations and their responsibilities[171]. - The Company complies with the CG Code regarding the separation of roles between the Chairman and CEO[169]. Human Resources - The Group employed 37 employees as of March 31, 2022, down from 43 in 2021, and continues to provide training to enhance workforce capabilities[94]. - All Directors participated in continuous professional development to enhance their knowledge and skills during the reporting period[172]. Environmental and Social Responsibility - The Group emphasizes environmental conservation and has implemented practices to comply with environmental legislation, with further details available in the Environmental, Social and Governance Report[108]. - The Group will periodically review its environmental practices and consider additional eco-friendly measures in its operations[109].

Financial Results - Royal Century Resources Holdings Limited reported its third-quarter results for the period ending December 31, 2021[2]. - The financial statements for the year ending March 31, 2021, are included as comparative data but do not constitute the statutory consolidated financial statements[4]. - The auditor's report for the group’s consolidated financial statements for the year ending March 31, 2021, was unqualified, with no emphasis of matter or other statements made[4]. Responsibility and Disclosure - The announcement confirms that the board of directors collectively and individually accepts responsibility for the accuracy and completeness of the information provided[6]. - The announcement will be published on the GEM website and the company's website for at least seven days from the date of publication[6].

Financial Performance - For the nine months ended December 31, 2021, the Company reported revenue of HK$46,446,000, a decrease of 7.3% compared to HK$49,850,000 for the same period in 2020[8]. - The gross profit for the nine months was HK$8,974,000, down 2.4% from HK$9,192,000 in the previous year[8]. - The loss before tax for the nine months was HK$9,943,000, an increase of 25.1% compared to HK$7,951,000 for the same period in 2020[10]. - The loss attributable to owners of the Company for the nine months was HK$9,943,000, compared to HK$7,951,000 in the previous year, reflecting a 25.1% increase[10]. - The total comprehensive loss for the period attributable to owners of the Company was HK$9,946,000, compared to HK$7,974,000 in the previous year[10]. - The company reported a loss for the period of HK$9,943,000, compared to a loss of HK$7,951,000 for the same period in the previous year, indicating an increase in losses of approximately 25%[13]. - The total comprehensive loss for the nine months ended December 31, 2021, was HK$9,946,000, which includes other comprehensive losses of HK$3,000[13]. - The Group recorded a loss of approximately HK$9.9 million for the nine months ended December 31, 2021, an increase in loss of approximately HK$1.9 million from HK$8.0 million for the same period in 2020[110]. Revenue Breakdown - Revenue from design, fitting out, and engineering services for the nine months ended December 31, 2021, was HK$26,828,000, down from HK$30,353,000 in 2020, indicating a decrease of about 11.8%[40]. - Revenue from leasing of construction equipment increased significantly to HK$11,113,000 for the nine months ended December 31, 2021, compared to HK$5,782,000 in 2020, reflecting an increase of approximately 92.5%[40]. - Revenue from the sale of fine and rare wines decreased to HK$8,088,000 for the nine months ended December 31, 2021, from HK$13,123,000 in 2020, marking a decline of about 38.3%[40]. - Revenue from public housing maintenance, improvement, and vacant flat refurbishment works amounted to approximately HK$12.5 million, representing about 46.6% of the segment revenue for the current period, with an 86.6% growth[115]. Expenses and Costs - Administrative expenses for the nine months were HK$18,818,000, an increase of 8.0% from HK$17,410,000 in the previous year[8]. - Interest income from money lending for the nine months ended December 31, 2021, was HK$407,000, compared to HK$569,000 in 2020, representing a decrease of about 28.4%[40]. - Salaries and wages included in administrative expenses for the nine months ended December 31, 2021, amounted to HK$9,137,000, compared to HK$8,785,000 in 2020[51]. - Depreciation of property, plant, and equipment for the nine months ended December 31, 2021, was approximately HK$6,099,000, up from HK$4,585,000 in the same period of 2020[51]. - Finance costs for the nine months ended December 31, 2021, were HK$431,000, a decrease from HK$926,000 in the same period of 2020[49]. Share Capital and Equity - The company issued new shares under a rights issue amounting to HK$31,356,000, with transaction costs of HK$1,428,000 attributed to the issuance[13]. - As of December 31, 2021, the issued and fully paid ordinary shares stood at 156,780,000, with a share capital of HK$205,523,000[69]. - The weighted average number of ordinary shares for the nine months ended December 31, 2021, was 156,780,000, up from 64,321,000 in 2020, reflecting a significant increase in share issuance[61]. - No dividends were recommended for the nine months ended December 31, 2021, consistent with the previous year where no dividends were declared[64]. Compliance and Governance - The Group's financial statements have been prepared in accordance with the Hong Kong Financial Reporting Standards (HKFRSs) and GEM Listing Rules, ensuring compliance with applicable disclosure requirements[16]. - The Group has not early adopted new and revised HKFRSs that are not yet effective, indicating a cautious approach to accounting changes[26]. - The Audit Committee comprises three independent non-executive Directors and is responsible for reviewing the Group's financial reporting process and internal control systems[199]. - The company has established an audit committee, a remuneration committee, a nomination committee, and a compliance committee as per GEM Listing Rules requirements[198]. - The Board has adopted the principles and code provisions of the Corporate Governance Code to ensure proper regulation of business activities and decision-making processes[195]. Risks and Future Outlook - The Company has acknowledged the potential risks associated with investing in small and mid-sized companies listed on GEM, which may experience higher market volatility[2]. - The Group is currently assessing the potential impact of new and revised Hong Kong Financial Reporting Standards on its financial statements, with no significant impact anticipated at this time[27]. - The Group is optimistic about securing further public housing estates works and services, actively coordinating with contractors for new term contracts[115]. - Management is actively negotiating with customers to rebound the lease out rate of scaffolding equipment to above 70%[122]. Assets and Liabilities - As of December 31, 2021, the total capital was HK$205,523,000, with accumulated losses of HK$121,834,000, resulting in a total comprehensive loss of HK$9,946,000 for the period[13]. - The Group's net current assets were approximately HK$22.1 million as of 31 December 2021, down from HK$25.0 million as of 31 March 2021[134]. - Cash and bank balances decreased to approximately HK$6.9 million as of 31 December 2021 from HK$16.7 million as of 31 March 2021[134]. - The Group's borrowings included lease liabilities of approximately HK$14.4 million as of 31 December 2021, compared to HK$13.6 million as of 31 March 2021[136]. - The gearing ratio increased to approximately 17.2% as of 31 December 2021 from 14.5% as of 31 March 2021[136].

Financial Performance - Revenue for the six months ended 30 September 2021 was HK$32,644,000, an increase of 8.9% compared to HK$29,939,000 for the same period in 2020[8]. - Gross profit for the six months ended 30 September 2021 was HK$5,924,000, a decrease of 8.8% from HK$6,494,000 in the previous year[8]. - Loss before tax for the six months was HK$6,839,000, compared to a loss of HK$3,960,000 for the same period in 2020, representing a 72.5% increase in loss[10]. - Loss attributable to owners of the Company for the period was HK$6,839,000, up from HK$3,960,000 in the prior year, indicating a significant increase in losses[10]. - Basic and diluted loss per share for the six months was HK$0.04, compared to HK$0.06 for the same period in 2020[10]. - The total comprehensive loss for the period attributable to owners of the Company was HK$6,840,000, compared to HK$3,978,000 in the prior year, reflecting a 72.5% increase[10]. - The company reported a loss for the period of HK$6,839,000 for the six months ended September 30, 2021, compared to a loss of HK$3,960,000 for the same period in 2020, reflecting an increase in losses of approximately 72.5%[18]. - The Group recorded a loss for the period of approximately HK$6.8 million, an increase of approximately HK$2.8 million compared to a loss of HK$4.0 million in the same period last year[153]. Revenue Breakdown - Revenue from design, fitting out, and engineering services for the six months ended 30 September 2021 was HK$17,534,000, a decrease of 5.8% from HK$18,622,000 in 2020[46]. - Revenue from leasing of construction equipment increased significantly to HK$6,852,000 for the six months ended 30 September 2021, up 98.5% from HK$3,452,000 in 2020[46]. - Sale of fine and rare wines generated revenue of HK$7,979,000 for the six months ended 30 September 2021, an increase of 6.8% compared to HK$7,473,000 in 2020[46]. - Revenue from public housing maintenance and refurbishment works amounted to approximately HK$9.2 million, representing about 52.6% of the segment revenue for the current period, with a growth of approximately 37.3%[155]. Expenses and Costs - Administrative expenses increased to HK$12,562,000 for the six months ended 30 September 2021, up from HK$10,679,000 in the previous year, reflecting a rise of 17.6%[8]. - Interest income from money lending decreased to HK$272,000 for the six months ended 30 September 2021, down 28.2% from HK$379,000 in 2020[42]. - The company reported unallocated central administrative costs of HK$4,887,000 for the six months ended 30 September 2021[46]. - Salaries and wages included in cost of sales for the six months ended 30 September 2021 amounted to HK$5,805,000, an increase of 5.7% from HK$5,493,000 in the same period of 2020[64]. - Depreciation of property, plant, and equipment for the six months ended 30 September 2021 was approximately HK$4,081,000, up from HK$2,900,000 in the same period of 2020, representing a 40.4% increase[64][65]. Assets and Liabilities - As of September 30, 2021, total assets less current liabilities amounted to HK$93,699,000, a decrease from HK$102,240,000 as of March 31, 2021, representing a decline of approximately 8.5%[13]. - The total equity as of September 30, 2021, was HK$86,644,000, down from HK$93,484,000 as of March 31, 2021, representing a decline of approximately 7.3%[15]. - The company experienced a net cash outflow from operating activities of HK$3,228,000 for the six months ended September 30, 2021, compared to a net inflow of HK$1,396,000 for the same period in 2020[20]. - Cash and cash equivalents at the end of the period were HK$9,013,000, down from HK$16,728,000 at the beginning of the period, marking a decrease of about 46.0%[20]. - The Group's total equity attributable to owners amounted to approximately HK$86.6 million as of 30 September 2021, down from HK$93.5 million as of 31 March 2021[174]. Segment Information - For the three months ended 30 September 2021, total segment revenue was HK$16,439,000, an increase of 16.9% compared to HK$14,014,000 in the same period of 2020[42]. - The segment loss for leasing of construction equipment was HK$1,616,000 for the six months ended 30 September 2021, compared to a loss of HK$2,166,000 in the same period of 2020[46]. - The Group is engaged in multiple segments including design, fitting out and engineering services, leasing of construction equipment, sourcing and merchandising of fine wines, and provision of financial services[132]. Financial Management and Strategy - The Group has acknowledged the potential risks associated with investing in small and mid-sized companies listed on GEM, emphasizing the importance of careful consideration by prospective investors[2]. - The Group continues to adopt a prudent management approach in its financial services business to minimize credit risk exposure[167]. - The Group is optimistic about securing further public housing estates works and services through active negotiations with contractors for new term contracts[155]. - The Group expects significant growth potential in rental income from the leasing of construction equipment due to an increase in customers and projects[165]. Shareholder Information - The Group did not recommend the payment of an interim dividend for the six months ended September 30, 2021, consistent with the previous year[79]. - The Company completed a share consolidation on 18 November 2020, reducing the issued shares by 470,340,000[114]. - The Company raised approximately HK$31.4 million before expenses through a rights issue of 104,520,000 rights shares at a subscription price of HK$0.30 per share[114]. - The weighted average number of ordinary shares for the purpose of basic and diluted loss per share for the three months ended 30 September 2021 was 156,780,000, compared to 67,548,000 for the same period in 2020, reflecting a significant increase in shares[75]. Compliance and Reporting - The financial statements for the year ended 31 March 2021 have been delivered to the Registrar of Companies as required by the Companies Ordinance[27]. - The Group has adopted new standards and interpretations effective from 1 April 2021, including amendments to HKAS 39 and HKFRSs 4, 7, 9, and 16, related to Interest Rate Benchmark Reform – Phase 2[31]. - The Group's auditor reported on the consolidated financial statements for the year ended 31 March 2021, with an unqualified report[28]. - The significant accounting policies used in the preparation of the Group's condensed consolidated financial statements for the six months ended 30 September 2021 are consistent with those adopted in the previous year[30].

Financial Performance - Revenue for the three months ended June 30, 2021, was HK$16,205,000, a slight increase of 1.76% compared to HK$15,925,000 for the same period in 2020[8]. - Gross profit for the same period was HK$2,720,000, down 15.6% from HK$3,224,000 in 2020[8]. - Loss before tax for the period was HK$3,430,000, compared to a loss of HK$2,028,000 in the previous year, indicating a deterioration of 69.4%[9]. - Total comprehensive loss attributable to owners of the Company for the period was HK$3,431,000, an increase from HK$2,028,000 in 2020[9]. - Basic and diluted loss per share for the period was HK$0.02, compared to HK$0.03 for the same period last year[9]. - Other income for the period was HK$267,000, a decrease of 13.06% from HK$307,000 in 2020[8]. - The Group recorded a loss for the period of approximately HK$3.4 million, an increase in loss of approximately HK$1.4 million compared to HK$2.0 million for the same period in 2020[89]. Revenue Breakdown - The Group's revenue includes income from fitting out and engineering services, design and procurement of furnishings, rental and installation services from leasing construction equipment, sale of fine wines, interest income from money lending, and commission income from brokerage services[26]. - Revenue from design, fitting out, and engineering services decreased to HK$8,746,000, down 14.5% from HK$10,231,000 year-over-year[29]. - Revenue from leasing of construction equipment increased significantly to HK$3,325,000, up 92.3% from HK$1,729,000 in the previous year[29]. - Sale of fine and rare wines generated revenue of HK$3,991,000, representing an increase of 5.8% compared to HK$3,773,000 in 2020[29]. - Revenue from public housing maintenance, improvement, and vacant flat refurbishment works amounted to approximately HK$4 million, representing about 46.4% of the segment revenue for the current period[92]. Expenses and Costs - Administrative expenses increased to HK$6,230,000 from HK$5,233,000, reflecting a rise of 19.1%[8]. - Total salaries and wages included in cost of sales for the three months ended June 30, 2021, amounted to HK$420,000, up from HK$221,000 in 2020, marking an increase of 90.0%[48]. - Depreciation of property, plant, and equipment for the three months ended June 30, 2021, was approximately HK$1,761,000, compared to HK$926,000 for the same period in 2020, representing an increase of 90.0%[49]. - The Group's gross rental income less outgoings showed a loss of HK$194,000 for the three months ended June 30, 2021, compared to a loss of HK$163,000 in 2020, indicating a worsening in rental performance[48]. Compliance and Governance - The unaudited financial statements were prepared in accordance with Hong Kong Financial Reporting Standards and comply with GEM Listing Rules[14]. - The Company is focused on maintaining compliance with regulatory requirements while navigating market challenges[13]. - The Group has adopted new/revised Hong Kong Financial Reporting Standards effective from 1 April 2021, but these have had no material effect on the financial statements[21]. - The auditor's report for the consolidated financial statements for the year ended 31 March 2021 was unqualified, indicating no significant issues were raised[19]. - The Company has established an audit committee, a remuneration committee, a nomination committee, and a compliance committee[167]. Shareholder Information - As of June 30, 2021, Hong Kong ChaoShang Group Limited holds 38,309,600 shares, representing approximately 24.44% of the issued shares[139]. - The total number of shares available for issue under the share option scheme is 3,000,000 shares, which is 10% of the issued shares as of the listing date[148]. - No share options have been granted by the company since the adoption of the share option scheme[150]. - The subscription price for shares subject to options will not be less than the highest of the closing price on the date of grant or the average closing price for the preceding five trading days[143]. Future Outlook - The Group expects the wine merchandising business to provide a stable income stream and maintain steady operations[103]. - The Group aims to broaden and strengthen the income stream from its design, fitting out, and engineering services business[96]. - The Group is in the process of assessing the potential impact of new/revised HKFRSs on future financial statements[25].

Financial Performance - The Group recorded a turnover of approximately HK$66.8 million for the year ended 31 March 2021, representing a 56.3% increase compared to the previous year[17]. - The Group incurred a loss of approximately HK$19.4 million, with about HK$10.5 million attributed to impairment of goodwill and intangible assets, which are non-cash items[17]. - Revenue from design, fitting out, and engineering services increased significantly from approximately HK$16.7 million to approximately HK$36.8 million due to new project contracts[18]. - Income from leasing construction equipment amounted to approximately HK$8.6 million, more than double the HK$3.6 million from the previous year, indicating strong growth potential[19]. - The Group recorded a total revenue of approximately HK$66.8 million for the year ended March 31, 2021, representing an increase of approximately HK$24.0 million or 56.3% compared to the previous year[38]. - The Group recorded a gross profit of approximately HK$11.7 million for the year, representing an increase of approximately 113.1% from HK$5.5 million in 2020[47]. - The Group's loss for the year was approximately HK$19.4 million, a decrease of about HK$8.7 million or 31.0% from a loss of HK$28.1 million in 2020[54]. - The Group's total revenue for the year ended 31 March 2021 was approximately HK$66.8 million, an increase of about HK$24 million or 56.3% compared to HK$42.8 million in 2020[44]. Project Contracts and Growth - The Group secured contracts totaling approximately HK$40 million during the year, despite challenges posed by COVID-19[16]. - The Group has successfully bidded for new projects and explored new customer opportunities during the year[18]. - The Group secured design, fitting out, and engineering projects with contract sums of approximately HK$40 million, with HK$30 million awarded through tendering[62]. - The Group is negotiating additional contracts with an aggregate value exceeding HK$40 million and has established positive relationships in the public sector[63][64]. - The Group generated approximately HK$6.7 million in revenue from two public housing renovation contracts that commenced in October 2020, with a contract duration of about 2 years[66]. - The Group is negotiating a contract for scaffolding equipment installation for a public tunnel project, with a contract sum of approximately HK$25 million[71]. Equipment Leasing and Revenue Streams - The leasing of construction equipment is expected to become a sustainable income stream for the Group with steady growth anticipated in the future[19]. - The leasing of construction equipment business has shown progressive growth, with an increase in the number of customers and projects, contributing to stable income generation[65]. - The Group's investment in construction equipment leasing is expected to provide a sustainable revenue source moving forward[22]. - The Group expects steady and recurring income from term contracts related to public housing refurbishment and maintenance services, which are still in force for the upcoming year[25]. Financial Position and Equity - The Group's net current assets increased to approximately HK$25 million as of March 31, 2021, up from HK$17.8 million in 2020[80]. - The current ratio improved to approximately 2.4 times as of March 31, 2021, compared to 2.2 times in 2020, primarily due to proceeds from a rights issue[81]. - The Group raised approximately HK$31.4 million through a rights issue, issuing 104,520,000 rights shares at a subscription price of HK$0.30 per share[82]. - The Group's total equity attributable to owners amounted to approximately HK$93.5 million as of March 31, 2021, compared to HK$83 million in 2020[82]. - The gearing ratio decreased to approximately 14.5% as of March 31, 2021, down from 24.6% in 2020, due to the settlement of lease liabilities[83]. Corporate Governance and Compliance - The company has adopted the Corporate Governance Code to ensure proper regulation of business activities and decision-making processes[158]. - The company has established an audit committee, a remuneration committee, a nomination committee, and a compliance committee as per GEM Listing Rules[158]. - The company has internal policies in place to ensure compliance with the Corporate Governance Code[162]. - The Audit Committee held 7 meetings during the year, with all members attending every meeting[200]. - The Company ensures compliance with corporate governance codes and maintains clear delegation of powers[187]. Employee and Operational Matters - Total remuneration for the year ended 31 March 2021 was approximately HK$12.6 million, an increase from HK$11.5 million in 2020, primarily due to an increase in the number of employees[112]. - The Group employed 43 employees as of 31 March 2021, up from 27 in the previous year[111]. - The Group did not recommend the payment of any dividend for the year ended 31 March 2021[105]. Environmental and Safety Measures - The Group has implemented various hygiene and safety measures in response to the COVID-19 pandemic to mitigate operational risks[121]. - The company emphasizes environmental protection and has implemented various practices to comply with environmental regulations and enhance employee awareness[128]. - The company plans to regularly review its environmental practices and consider implementing more eco-friendly measures in its operations[129].