| | | 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 致：香港交易及結算所有限公司 公司名稱: 環康集團有限公司 FF301 II. 已發行股份及/或庫存股份變動 | 1. 股份分類 | 普通股 | | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 08169 | 說明 | | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | | 649,540,000 | | 0 | | 649,540,000 | | 增加 / 減少 (-) | | | | | | | | | | 本月底結存 | | | | 649,540,000 | | 0 | | 649,540,000 | 呈交日期: 2025年9月1日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 環康集團有限公司 呈交日期: 2025年8月1日 I. 法定/註冊股本變動 III.已發行股份及/或庫存股份變動詳情 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 08169 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 5,000,000,000 | HKD | | 0.01 | HKD | | 50,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 5,000,000,000 | HKD | | 0.01 | HKD | | 50,0 ...

香港聯合交易所有限公司（「聯交所」）GEM之特色 GEM之定位，乃為相比起其他在聯交所上市之公司帶有較高投資風險之公司提 供一個上市之市場。有意投資之人士應了解投資於該等公司之潛在風險，並應 經過審慎周詳之考慮後方作出投資決定。GEM之較高風險及其他特色表示GEM 較適合專業及其他資深投資者。 由於GEM上市公司普遍為中小型公司，在GEM買賣之證券可能會較在聯交所主 板買賣之證券承受較大之市場波動風險，同時無法保證在GEM買賣之證券會有 高流通量之市場。 香港交易及結算所有限公司及聯交所對本報告之內容概不負責，對其準確性或 完整性亦不發表任何聲明，並明確表示概不就因本報告全部或任何部份內容而 產生或因倚賴該等內容而引致之任何損失承擔任何責任。 本報告的資料乃遵照聯交所GEM證券上市規則（「GEM上市規則」）之規定而刊載， 旨在提供有關環康集團有限公司（「本公司」）的資料；本公司董事（「董事」）願就 本報告的資料共同及個別地承擔全部責任。董事在作出一切合理查詢後，確認 就彼等所深知及確信，本報告所載資料在各重要方面均屬準確完備，沒有誤導 或欺詐成分，且並無遺漏任何其他事項，足以令致本報告或其所載任何陳述產 生誤 ...

[Overview](index=2&type=section&id=%E6%A6%82%E8%A6%81) [Condensed Consolidated Statement of Comprehensive Income](index=2&type=section&id=%E7%B0%A1%E6%98%8E%E7%B6%9C%E5%90%88%E5%85%A8%E9%9D%A2%E6%94%B6%E7%9B%8A%E8%A1%A8) During the reporting period, the company experienced a significant decline in both revenue and profit, primarily due to reduced income from environmental products and water plant businesses, leading to a substantial 91% decrease in profit attributable to owners of the company Condensed Consolidated Statement of Comprehensive Income | Metric | Six Months Ended April 30, 2025 (HK$ thousand) | Six Months Ended April 30, 2024 (HK$ thousand) | | :--- | :--- | :--- | | Revenue | 42,312 | 51,389 | | Cost of sales | (27,476) | (32,382) | | Gross profit | 14,836 | 19,007 | | Operating profit | 1,243 | 4,637 | | Profit before income tax | 898 | 3,890 | | Income tax expense | (719) | (1,880) | | Profit attributable to owners of the company | 179 | 2,010 | - Revenue decreased by approximately **18%** compared to the same period[8](index=8&type=chunk) - Profit attributable to owners of the company decreased by approximately **91%** compared to the same period[8](index=8&type=chunk) - Basic and diluted earnings per share were approximately **HK$0.03 cents**, a decrease of approximately **90%** compared to the same period[8](index=8&type=chunk) Other Comprehensive Income Items | Other comprehensive income items | Six Months Ended April 30, 2025 (HK$ thousand) | Six Months Ended April 30, 2024 (HK$ thousand) | | :--- | :--- | :--- | | Items that may be reclassified subsequently to profit or loss: | | | | Exchange differences (loss)/gain | (3,702) | 1,980 | | **Total other comprehensive income for the period** | **(3,702)** | **1,980** | | **Total comprehensive income for the period** | **(3,523)** | **3,990** | [Condensed Consolidated Statement of Financial Position](index=4&type=section&id=%E7%B0%A1%E6%98%8E%E7%B6%9C%E5%90%88%E8%B2%A1%E5%8B%99%E7%8B%80%E6%B3%81%E8%A1%A8) As of April 30, 2025, the company's total assets and net assets slightly decreased, while net current assets and current ratio remained stable Condensed Consolidated Statement of Financial Position | Metric | As at April 30, 2025 (HK$ thousand) | As at October 31, 2024 (HK$ thousand) | | :--- | :--- | :--- | | **Non-current assets** | | | | Property, plant and equipment | 61,781 | 66,011 | | Right-of-use assets | 4,484 | 5,444 | | Interest in a joint venture | 4,265 | 4,484 | | Deferred tax assets | 1,556 | 1,380 | | Deposits | 122 | 195 | | **Total non-current assets** | **72,208** | **77,514** | | **Current assets** | | | | Inventories | 18,058 | 15,925 | | Trade receivables | 29,498 | 31,998 | | Deposits, prepayments and other receivables | 14,475 | 16,105 | | Cash and cash equivalents | 28,374 | 27,052 | | **Total current assets** | **90,405** | **91,080** | | **Current liabilities** | | | | Trade payables | 11,714 | 11,599 | | Accruals and other payables | 15,583 | 18,046 | | Contract liabilities | 7,135 | 6,554 | | Lease liabilities | 977 | 1,114 | | Loan from an associate | 1,200 | 1,200 | | Tax provision | 10,194 | 9,655 | | **Total current liabilities** | **46,803** | **48,168** | | **Net current assets** | **43,602** | **42,912** | | **Total assets less current liabilities** | **115,810** | **120,426** | | **Non-current liabilities** | | | | Lease liabilities | 327 | 820 | | Loan from an associate | 10,764 | 11,364 | | **Total non-current liabilities** | **11,091** | **12,184** | | **Net assets** | **104,719** | **108,242** | | **Total equity** | **104,719** | **108,242** | [Condensed Consolidated Statement of Cash Flows](index=6&type=section&id=%E7%B0%A1%E6%98%8E%E7%B6%9C%E5%90%88%E7%8F%BE%E9%87%91%E6%B5%81%E9%87%8F%E8%A1%A8) During the period, operating cash flow shifted from net outflow to net inflow, while investing and financing cash flows remained net outflows, resulting in an increase in cash and cash equivalents at period-end Condensed Consolidated Statement of Cash Flows | Cash flow category | Six Months Ended April 30, 2025 (HK$ thousand) | Six Months Ended April 30, 2024 (HK$ thousand) | | :--- | :--- | :--- | | Net cash from/(used in) operating activities | 1,720 | (3,689) | | Net cash used in investing activities | (32) | (1,255) | | Net cash used in financing activities | (943) | (1,013) | | Net increase/(decrease) in cash and cash equivalents | 745 | (5,957) | | Effect of foreign exchange rate changes | 577 | 948 | | Cash and cash equivalents at beginning of period | 27,052 | 41,485 | | Cash and cash equivalents at end of period | 28,374 | 36,476 | [Condensed Consolidated Statement of Changes in Equity](index=7&type=section&id=%E7%B0%A1%E6%98%8E%E7%B6%9C%E5%90%88%E6%AC%8A%E7%9B%8A%E8%AE%8A%E5%8B%95%E8%A1%A8) During the reporting period, the company's total equity decreased due to a negative total comprehensive income for the period Condensed Consolidated Statement of Changes in Equity | Equity item | As at April 30, 2025 (HK$ thousand) | As at April 30, 2024 (HK$ thousand) | | :--- | :--- | :--- | | Total at beginning of period | 108,242 | 111,551 | | Profit for the period | 179 | 2,010 | | Other comprehensive income for the period | (3,702) | 1,980 | | Total comprehensive income for the period | (3,523) | 3,900 | | Total at end of period | 104,719 | 111,551 | [Notes to the Condensed Consolidated Financial Statements](index=8&type=section&id=%E7%B0%A1%E6%98%8E%E7%B6%9C%E5%90%88%E8%B2%A1%E5%8B%99%E5%A0%B1%E8%A1%A8%E9%99%84%E8%A8%BB) [1. Basis of Preparation](index=8&type=section&id=1.%20%E7%B7%A8%E8%A3%BD%E5%9F%BA%E6%BA%96) Financial statements are presented in HKD, adhere to Hong Kong Financial Reporting Standards, maintain consistent accounting policies with prior audited statements, and new standards have no material impact this period - The company is registered in the Cayman Islands, with shares listed on GEM of the Stock Exchange since **December 5, 2001**[15](index=15&type=chunk) - Financial statements are presented in HKD, with the functional currency of Chinese subsidiaries being RMB[15](index=15&type=chunk) - Preparation adheres to Hong Kong Financial Reporting Standards issued by the HKICPA, and includes disclosure requirements of the GEM Listing Rules[16](index=16&type=chunk) - Newly issued and revised Hong Kong Financial Reporting Standards have no material impact on the results and financial position for the current and prior periods[18](index=18&type=chunk) [2. Revenue and Segment Information](index=9&type=section&id=2.%20%E6%94%B6%E7%9B%8A%E5%8F%8A%E5%88%86%E9%83%A8%E8%B3%87%E6%96%99) The company's revenue primarily stems from environmental products and water plant segments, both experiencing revenue declines, with environmental products' share slightly increasing Revenue Sources | Business Type |

Revenue Performance - The company's revenue for the fiscal year ending October 31, 2024, decreased by 7% to HKD 94,644,000 from HKD 101,924,000 in the previous year[8]. - The water supply business revenue fell by 15% to HKD 39,698,000, down from HKD 46,628,000, primarily due to currency depreciation and a decrease in average water prices[9]. - The environmental products business maintained stable revenue at HKD 54,946,000, compared to HKD 55,296,000 in the previous year, highlighting the relevance of energy-saving products[13]. - Environmental products accounted for 58% of total revenue, while the water supply business accounted for 42%, indicating a diversified business model[8]. - The group reported a total asset value of HKD 71,455,000, which accounts for 42.4% of the total assets as of October 31, 2024[173]. - Total revenue for the year ended October 31, 2024, was HKD 94,644,000, a decrease of 7.5% compared to HKD 101,924,000 in 2023[184]. Profitability and Financial Health - The gross profit decreased by 15% to HKD 31,098,000, with a gross profit margin dropping from 36% to 33% due to the decline in average water selling prices and RMB depreciation[35]. - Operating profit significantly declined to HKD 130,000 from HKD 9,463,000 in 2023, indicating a drop of 98.6%[184]. - The company reported a loss attributable to owners of HKD 1,806,000 for the year, compared to a profit of HKD 5,593,000 in 2023[184]. - The total comprehensive income for the year ended October 31, 2024, was HKD 681,000, a recovery from a loss of HKD (1,806,000) in the previous year[193]. - The company recognized an expected credit loss provision of HKD 2,183,000, significantly higher than HKD 377,000 in the previous year[184]. Liquidity and Cash Flow - The current ratio as of October 31, 2024, was approximately 1.89, compared to 1.88 the previous year, indicating stable liquidity[37]. - Cash flow from operating activities showed a net outflow of HKD 9,590,000, contrasting with a net inflow of HKD 381,000 in the previous year[189]. - The cash and cash equivalents dropped to HKD 27,052,000 from HKD 41,485,000, a decrease of 34.9%[186]. - The net cash used in financing activities was HKD (3,574,000) compared to HKD (3,618,000) in 2023, showing a slight improvement[191]. Governance and Leadership - The company has a strong leadership team with over 35 years of experience in the engineering industry, led by Chairman Mr. Wu Cheng-Wei[19]. - The CEO position has been vacant, with responsibilities currently handled by the Executive Director[20]. - The Executive Director, Mr. Leung Wai-Lun, has over 30 years of experience in the engineering sector and joined the company in September 2015[21]. - The company has independent non-executive directors with extensive experience in finance and engineering, enhancing governance and oversight[25][24]. - The board consists of two executive directors, one non-executive director, and three independent non-executive directors, ensuring a diverse governance structure[52]. Strategic Focus and Future Outlook - The company plans to participate in more trade exhibitions to strengthen market position and collaborate with various suppliers to enhance product variety[18]. - Future growth potential is cautiously optimistic, particularly in the environmental products sector, as global environmental awareness increases[15]. - The company is focused on advancing technology development and procurement of products that align with China's energy-saving and emission reduction policies[18]. - The group plans to continue sourcing more related products to comply with China's energy-saving and emission reduction policies and enhance market share through trade exhibitions[33]. - The company aims to leverage its leadership's extensive industry experience to drive future growth and market expansion[19][21]. Environmental Commitment - The company emphasizes sustainable development through waste management, pollution reduction, and effective resource utilization[16]. - The company aims to minimize its environmental impact by adhering to all relevant environmental regulations and implementing resource optimization policies[150]. - The company has implemented measures to monitor and reduce wastewater and sludge generated from its water treatment operations, ensuring compliance with Chinese environmental standards[152]. Employee and Stakeholder Relations - The company maintains a strong relationship with stakeholders, focusing on quality products and timely services to customers[129]. - The company emphasizes the importance of employee safety as a key factor for sustainable business growth[129]. - As of October 31, 2024, the company has no management or administrative contracts related to its overall or any major business[136]. Shareholder and Dividend Policy - The company adopted a dividend policy in January 2019, aiming to distribute surplus funds after meeting operational and future development needs[72]. - The company does not recommend the distribution of a final dividend for the year ending October 31, 2024[110]. - The company has a distributable reserve of approximately HKD 6,521,000 as of October 31, 2024[119]. Risk Management and Compliance - The company has established a clear organizational structure for risk management and internal controls, with responsibilities defined at the board, audit committee, and management levels[91]. - The audit committee is responsible for reviewing the adequacy and effectiveness of the company's risk management and internal control systems[98]. - The company has adopted a policy for timely and accurate disclosure of significant information, ensuring potential insider information is quickly identified and assessed[95]. - The company has implemented a shareholder communication policy to ensure equal and timely access to information for shareholders and potential investors[96].

Financial Performance - For the fiscal year ending October 31, 2024, revenue decreased by approximately 7% to HKD 94,644,000, compared to HKD 101,924,000 in the previous year[8] - The company reported a loss attributable to shareholders of HKD 1,806,000 for the fiscal year ending October 31, 2024, compared to a profit of HKD 5,593,000 in the previous year[8] - Basic and diluted loss per share for the fiscal year ending October 31, 2024, was HKD 0.28, while the previous year reported earnings per share of HKD 0.86[8] - Gross profit for the fiscal year ending October 31, 2024, was HKD 31,098,000, down from HKD 36,932,000 in the previous year[7] - Operating profit for the fiscal year ending October 31, 2024, was HKD 130,000, a significant decrease from HKD 9,463,000 in the previous year[7] - The company recorded other income of HKD 899,000 for the fiscal year ending October 31, 2024, compared to HKD 1,845,000 in the previous year[7] - Administrative expenses increased to HKD 26,751,000 for the fiscal year ending October 31, 2024, from HKD 25,522,000 in the previous year[7] - The company reported a profit of HKD 5,593,000 for the year, despite a loss of HKD 1,806,000 in the current year[15] - Other comprehensive income for the year was HKD 2,487,000, contributing to the overall financial performance[15] Assets and Liabilities - Total assets as of October 31, 2024, amounted to HKD 120,837,000, compared to HKD 120,426,000 in 2023, reflecting a slight increase[11] - Current liabilities decreased from HKD 48,168,000 in 2023 to HKD 49,702,000 in 2024, indicating a change in short-term financial obligations[12] - The net asset value increased to HKD 108,242,000 in 2024 from HKD 107,561,000 in 2023, showing a positive trend in equity[13] - The company’s total liabilities increased slightly from HKD 49,702,000 in 2023 to HKD 48,168,000 in 2024, indicating a manageable level of debt[12] - The company’s total equity increased to HKD 108,242,000 in 2024, up from HKD 107,561,000 in 2023, reflecting a stable financial position[13] Revenue Segments - For the fiscal year ending October 31, 2024, the total revenue from external customers was HKD 94,644,000, with HKD 54,946,000 from environmental products and HKD 39,698,000 from water supply[23] - The reported profit for the environmental products segment was HKD 13,304,000, while the water supply segment reported a profit of HKD 14,861,000, contributing to a total profit of HKD 28,165,000[24] - Revenue from the water supply business fell by 15% from HKD 46,628,000 to HKD 39,698,000, primarily due to a decrease in average water selling prices and the depreciation of the RMB[56] - The environmental products segment generated revenue of HKD 54,946,000, remaining relatively stable compared to HKD 55,296,000 in the previous year, indicating resilience to market fluctuations[56] - The contribution ratio of the environmental products and water supply segments to total revenue was 58% and 42%, respectively, compared to 54% and 46% in the previous year[49] Cash Flow and Liquidity - The company’s cash and cash equivalents decreased from HKD 41,485,000 in 2023 to HKD 27,052,000 in 2024, indicating a reduction in liquidity[11] - As of October 31, 2024, the group's net current assets amounted to approximately HKD 42,912,000, a decrease from HKD 43,841,000 on October 31, 2023[60] - The current ratio as of October 31, 2024, was approximately 1.89, slightly up from 1.88 on October 31, 2023[60] Employee and Operational Costs - Total employee compensation for the year was HKD 17,327,000, up from HKD 17,050,000 in 2022[31] - Total employee costs, including director remuneration and mandatory contributions, were approximately HKD 17,188,000 for the year ending October 31, 2024, compared to HKD 17,470,000 for the previous year[67] Corporate Governance and Committees - The Audit Committee was established on December 5, 2001, to oversee the financial reporting process, risk management, and internal control systems[77] - The Audit Committee held four meetings up to October 31, 2024, to review operational conditions[77] - The Environmental, Social, and Governance (ESG) Committee was established in January 2022 to provide advice on managing ESG-related matters[78] - The Group's financial performance for the year ending October 31, 2024, was reviewed and deemed compliant with applicable accounting standards and regulations[79] Future Outlook and Strategy - The company plans to explore new strategies for market expansion and product development in the upcoming fiscal year[8] - The company remains cautiously optimistic about future prospects, focusing on expanding its environmental products business and improving water supply operations[54] - The completion of new railways is expected to enhance economic integration and development in the water supply service area, positively impacting the business[53]

Financial Performance - For the six months ended April 30, 2024, revenue was HKD 51,389,000, an increase of approximately 14% compared to HKD 45,143,000 for the same period in 2023[5] - Profit attributable to the owners of the company for the same period was HKD 2,010,000, relatively unchanged from HKD 2,004,000 in the previous year[5] - Basic earnings per share remained stable at approximately HKD 0.31 for both periods[5] - Gross profit for the six months ended April 30, 2024, was HKD 19,007,000, compared to HKD 16,686,000 in the previous year[7] - Operating profit increased to HKD 4,637,000 from HKD 4,382,000 year-on-year[7] - Total comprehensive income attributable to owners for the period was HKD 3,990,000, down from HKD 13,363,000 in the previous year[8] - Revenue for the six months ended April 30, 2024, was HKD 51,389,000, representing a 14.9% increase from HKD 45,143,000 for the same period in 2023[21] - Profit from operating segments for the six months ended April 30, 2024, was HKD 17,524,000, up 15.1% from HKD 15,226,000 in the prior year[25] - Sales of environmental products reached HKD 29,520,000, a 17.5% increase compared to HKD 25,141,000 in the previous year[21] - Water supply revenue increased to HKD 21,869,000, up 9.3% from HKD 20,002,000 in the same period last year[21] - Total comprehensive income for the six months ended April 30, 2024, was HKD 3,990,000, compared to HKD 13,363,000 for the previous period[16] - The group reported a net profit before tax of HKD 3,890,000, compared to HKD 3,913,000 in the same period last year[25] Assets and Liabilities - Cash and cash equivalents decreased to HKD 36,476,000 from HKD 47,316,000 year-on-year[14] - Non-current assets decreased to HKD 74,334,000 from HKD 76,996,000[10] - Total equity attributable to owners increased to HKD 111,551,000 from HKD 107,561,000[12] - The group’s total assets as of April 30, 2024, were HKD 170,257,000, a slight decrease from HKD 172,541,000 as of October 31, 2023[25] - Total liabilities increased to HKD 58,706,000 from HKD 51,500,000 in the previous period[25] - The total inventory as of April 30, 2024, was HKD 13,393,000, down from HKD 16,898,000 as of October 31, 2023, indicating a decrease of approximately 20.5%[38] - Accounts receivable increased to HKD 37,961,000 as of April 30, 2024, from HKD 27,490,000 as of October 31, 2023, representing a growth of about 38.3%[39] - The company's property, plant, and equipment net book value as of April 30, 2024, was HKD 65,184,000, a decrease from HKD 66,634,000 at the beginning of the period[36] - The company's total liabilities included contract liabilities of HKD 5,478,000 as of April 30, 2024, slightly down from HKD 5,671,000 as of October 31, 2023[41] - The company reported a foreign exchange forward contract liability of HKD 112,000 as of April 30, 2024, compared to HKD 127,000 as of October 31, 2023[44] - The company has a loan from a related party amounting to HKD 1,200,000 as of April 30, 2024, unchanged from October 31, 2023[42] Expenses and Costs - Depreciation expenses for property, plant, and equipment were HKD 3,113,000, an increase from HKD 2,425,000 in the previous year[28] - Employee costs, including directors' remuneration, rose to HKD 8,850,000 from HKD 8,325,000 in the prior year[28] - Administrative expenses rose by 2% to HKD 13,132,000 compared to HKD 12,837,000 in the previous year[55] - The company reported total employee costs of approximately HKD 8,900,000, an increase from HKD 8,300,000 for the same period in 2023, reflecting a growth of about 7.23%[63] - Employee costs, including key management personnel remuneration, totaled HKD 2,696,000, an increase from HKD 2,537,000 in the previous year[47] Corporate Governance and Management - The company has established various committees, including a Remuneration Committee and a Nomination Committee, to oversee governance and management practices[78][79] - The Audit Committee was established on December 5, 2001, to review and supervise the financial reporting process and internal control systems of the group[82] - The Audit Committee has reviewed the unaudited results for the six months ending April 30, 2024, and confirmed compliance with applicable accounting standards and regulations[82] - The board of directors includes executive directors Mr. Ng Cheng Wai and Mr. Leung Wai Lun, along with independent non-executive directors Dr. Lui Sun Wing, Ms. Chan Siu Ping, Mr. Chow Kam Wing, and Ms. Wong Ching Yan[83] Market Outlook and Strategy - The company remains cautiously optimistic about the potential development of advanced environmental solutions in the Chinese industrial market, particularly in energy-saving hydraulic technology[50] - The company has maintained a conservative financial policy, continuously assessing clients' financial conditions to mitigate credit risk[60] - The company has no significant foreign exchange risk as its procurement is primarily in JPY, GBP, EUR, and USD, while sales are mainly in RMB and HKD[61] - The company has adhered to all corporate governance codes as per GEM listing rules, with one exception regarding attendance at the annual general meeting[75] Shareholder Information - As of April 30, 2024, the major shareholder, Jiang Lili, holds 344,621,200 shares, representing 53.06% of the issued shares[69] Other Information - The company did not declare any interim dividend for the six months ended April 30, 2024, consistent with the previous year[33] - There were no significant acquisitions or disposals of subsidiaries or associated companies during the six months ending April 30, 2024[65] - The company reported no significant contingent liabilities as of April 30, 2024, consistent with the previous year[64] - The company has not engaged in any purchases or sales of its listed securities during the six months ending April 30, 2024[73]

Financial Performance - For the six months ended April 30, 2024, the company reported revenue of HKD 51,389,000, an increase of approximately 14% compared to HKD 45,143,000 for the same period in 2023[7] - The company's gross profit for the same period was HKD 19,007,000, up from HKD 16,686,000 in the previous year[7] - The net profit attributable to the owners of the company for the six months ended April 30, 2024, was HKD 2,010,000, which is comparable to HKD 2,004,000 for the same period in 2023[7] - Basic earnings per share for the current period remained stable at approximately HKD 0.31, consistent with the previous year's figure[7] - The company reported a comprehensive income of HKD 3,990,000 for the six months ended April 30, 2024, compared to HKD 13,363,000 for the same period in 2023, indicating a decrease of approximately 70%[16] - The cash flow from operating activities for the six months ended April 30, 2024, was HKD 41,064,000, compared to HKD 36,476,000 for the same period in 2023, showing an increase of about 12.5%[14] Expenses and Costs - The company incurred selling expenses of HKD 1,483,000, slightly higher than HKD 1,460,000 in the prior year[7] - Administrative expenses increased to HKD 13,132,000 from HKD 12,837,000 year-over-year[7] - Other operating expenses primarily included employee costs, director remuneration, and short-term lease expenses[26] - Employee costs for the six months ended April 30, 2024, amounted to HKD 2,696,000, compared to HKD 2,537,000 for the same period last year[51] - The total employee cost for the six months ending April 30, 2024, is approximately HKD 8,900,000, compared to HKD 8,300,000 for the same period in 2023[69] Assets and Liabilities - Non-current assets decreased from HKD 66,634 thousand in 2023 to HKD 65,184 thousand in 2024, a decline of approximately 2.2%[11] - Current assets increased from HKD 93,543 thousand in 2023 to HKD 95,923 thousand in 2024, an increase of about 2.5%[11] - Total assets decreased from HKD 120,837 thousand in 2023 to HKD 123,876 thousand in 2024, reflecting a decrease of approximately 2.5%[11] - Current liabilities decreased from HKD 49,702 thousand in 2023 to HKD 46,381 thousand in 2024, a reduction of about 6.5%[11] - Total liabilities decreased from HKD 49,702 thousand in 2023 to HKD 46,381 thousand in 2024, indicating a decrease of approximately 6.5%[11] - Net current assets increased from HKD 43,841 thousand in 2023 to HKD 49,542 thousand in 2024, an increase of about 12.9%[11] - The company reported a cash and cash equivalents balance of HKD 41,485 thousand in 2023, which decreased to HKD 36,476 thousand in 2024, a decline of approximately 12.0%[11] - The company's total equity increased from HKD 43,841 thousand in 2023 to HKD 49,542 thousand in 2024, reflecting an increase of about 12.9%[11] - The company reported a net asset value of HKD 111,551,000 as of April 30, 2024, compared to HKD 107,561,000 as of April 30, 2023, reflecting an increase of approximately 3.7%[12] Segment Performance - The sales of environmental products generated a profit of HKD 6,719,000 for the six months ended April 30, 2024, compared to HKD 10,805,000 for the same period in 2023, indicating a decrease of about 37.5%[24] - The water supply segment reported revenue of HKD 21,869,000 for the six months ended April 30, 2024, up from HKD 20,002,000 in the previous year, reflecting an increase of approximately 9.3%[23] - Environmental products business accounted for 57% of total revenue, while water supply business accounted for 43% as of April 30, 2024[54] - Revenue from environmental products increased by 17% to HKD 29,520,000, while water supply revenue rose by 9% to HKD 21,869,000[54] Corporate Governance and Compliance - The company has adhered to the GEM Listing Rules regarding corporate governance, with one exception related to the attendance of independent non-executive directors at the annual general meeting[77] - The company has established a Remuneration Committee to review and recommend the remuneration policies for directors and senior management[79] - The Audit Committee has reviewed the unaudited financial results for the six months ending April 30, 2024, and believes they comply with applicable accounting standards and regulations[85] - The company has established an Environment, Social, and Governance Committee to provide advice on managing related matters[82] - The company has a Nomination Committee responsible for formulating nomination policies and making recommendations regarding the appointment of directors[81] Future Outlook and Strategy - The company continues to focus on market expansion and product development strategies to drive future growth[7] - The company plans to continue focusing on operational efficiency and cost management strategies to enhance profitability in the upcoming quarters[27] - The group is cautiously optimistic about the potential development of energy-saving hydraulic technology in the Chinese industrial market[55] - The Tianjin water plant is equipped with advanced facilities to ensure water quality and is expected to benefit from the completion of new rail connections[58] Risk Management - The company has adopted a conservative financial policy, continuously assessing customer creditworthiness to mitigate credit risk[66] - The company monitors foreign exchange risks related to purchases in JPY, GBP, EUR, and USD, while sales are primarily in RMB and HKD[67] - The company has maintained a close watch on its liquidity position to ensure it can meet financial obligations[66] Shareholder Information - Major shareholders hold 53.06% of the company's ordinary shares as of April 30, 2024[74] - The company has not repurchased or sold any of its listed securities as of April 30, 2024[75] - Jiang Lili indirectly holds 344,621,200 shares through the Jiang Lili Family Trust, which is considered to have an interest in these shares[75]

Revenue and Business Performance - The company's revenue increased by 4% from HKD 97,595,000 in the previous year to HKD 101,924,000 in the current fiscal year[6]. - The contribution of the environmental products business to total revenue decreased from 67% to 54%, while the water supply business increased from 33% to 46%[6]. - Revenue from the Tianjin water plant rose by 44% from HKD 32,345,000 to HKD 46,628,000 due to increased supply of treated water[7]. - The environmental products business revenue decreased by 15% from HKD 65,250,000 to HKD 55,296,000[9]. - The company's revenue increased by 4% to HKD 101,924,000 for the year ending October 31, 2023, compared to HKD 97,595,000 in the previous year[27]. - The environmental products business revenue decreased by 15% to HKD 55,296,000, while the water supply business revenue increased by 44% to HKD 46,628,000[31]. - The gross profit for the year rose by 18% to HKD 36,932,000, with the gross profit margin increasing from 32% to 36%[31]. - Operating profit increased to HKD 9,463,000, compared to HKD 7,169,000 in the prior year, reflecting a rise of 32.1%[179]. - Net profit attributable to the owners of the company was HKD 5,593,000, a 27.7% increase from HKD 4,379,000 in the previous year[179]. - Basic and diluted earnings per share rose to HKD 0.86, up from HKD 0.67, marking a growth of 28.4%[179]. Financial Position and Assets - The company's net current assets increased to approximately HKD 43,841,000, up from HKD 34,020,000 the previous year[34]. - Total assets as of October 31, 2023, were HKD 120,837,000, slightly down from HKD 122,012,000 in the previous year[181]. - Current assets increased to HKD 93,543,000 from HKD 84,046,000, showing an increase of 11.3%[181]. - The company reported a decrease in total liabilities, with current liabilities at HKD 49,702,000, down from HKD 50,026,000[181]. - Total equity as of October 31, 2023, is HKD 107,561,000, a slight decrease from HKD 107,678,000 in 2022[182]. - Cash and cash equivalents remained stable at HKD 41,485,000, compared to HKD 41,064,000 in the previous year[181]. Corporate Governance and Compliance - The company has maintained compliance with the corporate governance code as per GEM listing rules, with a noted exception regarding attendance at the annual general meeting[45]. - The board of directors consists of two executive directors, one non-executive director, and four independent non-executive directors, ensuring a diverse skill set[49]. - The company has adopted a conservative financial policy to minimize credit risk through continuous credit assessments of customers[38]. - The company has established four committees: Compensation Committee, Nomination Committee, Environmental, Social and Governance Committee, and Audit Committee to oversee specific areas of corporate affairs[78]. - The company has a clear written scope of authority for all committees, which is published on the GEM website and the company's website[78]. - The independent auditor, Hong Kong Li Xin De Hao CPA Limited, has audited the consolidated financial statements for the year ended October 31, 2023[161]. - The company is committed to maintaining compliance with the Hong Kong Financial Reporting Standards and the Companies Ordinance[173]. Environmental and Social Responsibility - The company received the "2022-2023 ESG Corporate Award" from the renowned Chinese news weekly "Asia Weekly," recognizing its commitment to environmental, social, and governance strategies[11]. - The company aims to balance business development with environmental responsibility, striving to reduce pollution and enhance shareholder value through sustainable practices[11]. - The environmental products business is focused on promoting sustainable development in China, with products applied in marine machinery and clean energy sectors[29]. - The company has implemented measures to monitor and reduce wastewater and sludge generated from its water treatment operations, ensuring compliance with environmental regulations in China[150]. - The company is committed to minimizing its environmental impact and complies with all relevant environmental regulations[148]. Risk Management - The company identified risks related to fraud and errors that could lead to significant misstatements in the financial statements, emphasizing the importance of internal controls[178]. - The board confirmed its responsibility for overseeing the group's risk management and internal control systems, which are reviewed at least annually by the audit committee[89]. - The group has established a clear organizational structure with defined responsibilities and reporting procedures for risk management and internal controls[92]. - The independent external risk advisory firm conducts annual reviews of the internal control systems, ensuring their effectiveness and adequacy[93]. Shareholder and Stakeholder Relations - The company provides various channels for shareholder communication, including printed corporate communications and regular announcements through the stock exchange[97]. - The company maintains good relationships with key stakeholders, including employees, major customers, suppliers, and banks[153]. - The company has a significant shareholder, Jiang Lili, who holds 344,621,200 shares, representing 53.06% of the issued share capital[136]. Future Outlook and Strategic Plans - The company is optimistic about the development potential of its environmental products business, particularly in clean energy sectors[9]. - The company plans to maintain momentum in integrating sustainable development into its business activities and improving overall ESG performance[11]. - The company plans to expand its service network to other regions in mainland China to enhance operations in energy-saving hydraulic machinery and components[28]. - The company anticipates positive impacts from the completion of new intercity railways near its water supply plant in Tianjin, enhancing economic integration in the area[29].

Financial Performance - For the fiscal year ending October 31, 2023, revenue increased by approximately 4% to HKD 101,924,000 compared to HKD 97,595,000 in 2022[6] - The profit attributable to equity holders increased by approximately 28% to HKD 5,593,000, up from HKD 4,379,000 in the previous year[6] - Basic and diluted earnings per share rose by approximately 28% to HKD 0.86, compared to HKD 0.67 in 2022[6] - The company reported a profit of HKD 5,593,000 for the fiscal year ending October 31, 2022, which is an increase from the previous year's profit of HKD 4,379,000[12] - Total revenue for the year ended October 31, 2023, was HKD 101,924,000, an increase from HKD 97,595,000 in the previous year, representing a growth of approximately 2.7%[22] - The segment profit for the year was HKD 33,518,000, up from HKD 28,958,000, indicating a year-over-year increase of about 15.5%[22] - Gross profit increased by 18% to HKD 36,932,000, with the gross profit margin rising from 32% to 36%[56] - The company’s profit attributable to owners increased by 28% to HKD 5,593,000 from HKD 4,379,000 last year[57] Assets and Liabilities - Total assets as of October 31, 2023, amounted to HKD 120,837,000, a decrease from HKD 122,012,000 in 2022, representing a decline of approximately 0.96%[9] - Current assets increased to HKD 93,543,000 from HKD 84,046,000, reflecting a growth of about 11.5% year-over-year[9] - Total liabilities decreased to HKD 49,702,000 from HKD 50,026,000, showing a reduction of approximately 0.65%[10] - Current liabilities were reported at HKD 12,236,000, down from HKD 18,447,000, which is a significant decrease of about 33.5%[9] - The company reported a net asset value of HKD 43,841,000, an increase from HKD 34,020,000, representing a growth of approximately 29%[9] - The company’s total non-current liabilities were reported at HKD 13,276,000, a decrease from HKD 14,334,000, representing a decline of about 7.4%[10] - Total liabilities for 2023 amount to HKD 17,572 million, compared to HKD 14,499 million in 2022[43] Revenue Breakdown - Revenue from sales of environmental products reached HKD 55,296,000, while revenue from water supply amounted to HKD 46,628,000, totaling HKD 101,924,000 for the year[20] - The environmental products business revenue decreased by 15% from HKD 65,250,000 to HKD 55,296,000, while the water supply business revenue increased by 44% from HKD 32,345,000 to HKD 46,628,000[49] - The environmental products and water supply businesses accounted for 54% and 46% of total revenue, respectively, compared to 67% and 33% in the previous year[49] - Revenue from external customers in Hong Kong was HKD 6,480,000, while revenue from mainland China was HKD 95,467,000, showing a strong reliance on the Chinese market[24] Other Comprehensive Income - The company experienced a significant other comprehensive loss of HKD 12,939,000 during the fiscal year ending October 31, 2023[12] - The company reported a decrease in other comprehensive income, with a loss of HKD 5,710,000 for the fiscal year ending October 31, 2023[12] Operational Highlights - The company has not adopted any new or revised Hong Kong Financial Reporting Standards that would have a significant impact on its financial performance for the current or prior periods[16] - The company’s major operating segments include environmental products and water supply, both of which are regulated and strategically managed based on adjusted segment performance[20] - The company has established offices and service centers in Ningbo, Shanghai, and Shunde, with plans to expand its service network to other regions in mainland China[52] - The company has implemented an automated online system for real-time monitoring and testing of water supply pipeline conditions[55] Taxation and Financial Obligations - The group has tax losses that can offset taxable profits for two years, resulting in no tax provision being made[31] - The group is subject to a 25% corporate income tax rate in China, unchanged from the previous year[31] - Current tax expenses in China for 2023 were HKD 4,275,000, up from HKD 2,127,000 in 2022, reflecting a rise in tax obligations[29] Governance and Compliance - The company did not recommend any dividend payment for the year ending October 31, 2023, consistent with the previous year[33] - The company has adhered to the GEM Listing Rules and corporate governance code, with the exception of one independent non-executive director's absence from the annual general meeting due to other public duties[70] - The Audit Committee held four meetings to review the financial reporting procedures and internal control systems during the fiscal year ending October 31, 2023[76] - The Audit Committee reviewed the group's performance for the fiscal year ending October 31, 2023, and confirmed that the financial statements were prepared in accordance with applicable accounting standards and regulations[77] Shareholder Information - The annual general meeting is scheduled for March 7, 2024, and share registration will be suspended from March 4 to March 7, 2024[81] - Shareholders must ensure all share registration documents are submitted by March 1, 2024, at 4 PM to participate in the voting[81] - The company's issued and fully paid share capital remains at 649,540,000 shares as of October 31, 2023[48]