Financial Performance - For the nine months ended July 31, 2021, revenue was HKD 92,173,000, an increase of approximately 41% compared to HKD 65,165,000 for the same period in 2020[3] - The profit attributable to owners for the nine months ended July 31, 2021, was HKD 3,653,000, compared to a loss of HKD 8,963,000 for the same period in 2020[3] - Basic earnings per share for the nine months ended July 31, 2021, was approximately HKD 0.56, compared to a basic loss per share of HKD 1.38 for the same period in 2020[3] - Gross profit for the nine months ended July 31, 2021, was HKD 27,129,000, up from HKD 17,790,000 for the same period in 2020[5] - Operating profit for the nine months ended July 31, 2021, was HKD 6,738,000, compared to HKD 2,680,000 for the same period in 2020[5] - Total comprehensive income for the nine months ended July 31, 2021, was HKD 10,633,000, compared to a loss of HKD 6,879,000 for the same period in 2020[6] - Total revenue for the nine months ended July 31, 2021, increased by 41% to HKD 92,173,000 from HKD 65,165,000 in the same period last year[19] - Gross profit for the same period was HKD 27,129,000, up 52% from HKD 17,790,000, resulting in a gross margin of 29%, compared to 27% in the previous year[23] - The group recorded a profit attributable to owners of the company of HKD 3,653,000, compared to a loss of HKD 8,963,000 for the same period last year[26] Revenue Segmentation - Revenue from the environmental products segment rose by 40% to HKD 69,342,000, compared to HKD 49,583,000 in the previous year[19] - Revenue from the water supply segment increased by 47% to HKD 22,831,000, up from HKD 15,582,000 in the prior year[19] Expenses and Costs - The company reported a total of HKD 1,653,000 in other income for the nine months ended July 31, 2021, down from HKD 5,950,000 for the same period in 2020[5] - The financing costs for the nine months ended July 31, 2021, were HKD 653,000, compared to HKD 421,000 for the same period in 2020[5] - The company’s administrative expenses for the nine months ended July 31, 2021, were HKD 18,556,000, compared to HKD 17,664,000 for the same period in 2020[5] - The company’s sales costs for the nine months ended July 31, 2021, were HKD 65,044,000, compared to HKD 47,375,000 for the same period in 2020[5] - Administrative expenses increased by 5% to HKD 18,556,000, primarily due to rising employee costs and the appreciation of the Renminbi[24] - Sales expenses rose by 3% to HKD 3,488,000, attributed to increased exhibition and travel costs[24] - Tax provisions for the nine months amounted to HKD 2,398,000, a significant decrease from HKD 10,979,000 in the previous year[26] Corporate Governance and Compliance - The group has complied with all corporate governance codes as per GEM listing rules during the reporting period[34] - The Audit Committee reviewed the unaudited financial results for the three months and nine months ended July 31, 2021, and confirmed compliance with applicable accounting standards and regulations[40] - The Nomination Committee was established in February 2006 to develop nomination policies and recommend director appointments to the Board[39] - The Board of Directors includes Executive Directors Mr. Wu Zhengwei and Mr. Liang Weilun, along with Independent Non-Executive Directors Dr. Lv Xinrong, Ms. Chen Shaoping, Professor Ni Jun, and Mr. Zhou Jinrong[40] Strategic Plans and Market Position - The company did not recommend an interim dividend for the nine months ended July 31, 2021, consistent with the previous year[16] - The company has exclusive rights to supply treated water to certain areas in Tianjin, enhancing its market position[22] - The company plans to supply treated water to rural areas in Tianjin to replace groundwater usage, aligning with local government policies[22] - The company is monitoring the Chinese market for new products or services that align with energy-saving and emission-reduction policies[20] - The company expects optimistic prospects for its environmental products business due to increasing global attention on environmental issues[20] Other Information - No significant acquisitions or disposals of subsidiaries or associated companies occurred during the nine months ended July 31, 2021[35] - There were no purchases or sales of the company's listed securities by the company or its subsidiaries during the nine months[32] - The group did not experience any competition or conflicts of interest from directors or major shareholders during the reporting period[36] - The company is assessing the potential impact of new accounting standards on its financial reporting[10]

概要 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上市之公司之新興性質使然，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證券上巿規則（「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 就彼等所知及所信，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，足以令致本報告所載任何陳述或本報告 ...

Financial Performance - For the fiscal year ended October 31, 2020, the total revenue of the company decreased by 4% to HKD 92,638,000, down from HKD 96,477,000 in 2019[6] - The revenue from the environmental products business was HKD 70,299,000, which is comparable to last year's revenue of HKD 70,422,000, accounting for 76% of total revenue[5] - The revenue from the water supply business was HKD 22,339,000, a decrease of 14% from HKD 26,055,000 in 2019, primarily due to the impact of COVID-19 on schools and factories[5] - The gross profit for the fiscal year was HKD 29,559,000, a decrease of 3% from HKD 30,349,000 in 2019, with a gross profit margin of 32%[6] - The company recorded a loss attributable to owners of HKD 7,786,000 for the fiscal year, compared to a loss of HKD 574,000 in 2019[9] - The company has made a tax provision of HKD 16,464,000 for the fiscal year, significantly higher than HKD 2,205,000 in 2019, due to adjustments from prior years[9] - Other income, gains, and losses increased to HKD 11,324,000 from HKD 1,690,000 in 2019, primarily due to an increase in agency service income[27] - The group recorded a loss attributable to owners of HKD 7,786,000 for the year, compared to a loss of HKD 574,000 in 2019[29] - The company reported a net loss of HKD 7,668,000 for the year, compared to a profit of HKD 695,000 in the previous year[155] - The company’s equity decreased to HKD 102,285,000 from HKD 105,279,000, reflecting the impact of the net loss on shareholder value[156] Revenue Breakdown - Environmental products business revenue accounted for 76% of total revenue, up from 73% in the previous year[24] - Revenue from the environmental products business was HKD 70,299,000, approximately unchanged from HKD 70,422,000 in the previous year[24] - Revenue from the water supply business decreased by 14% to HKD 22,339,000, down from HKD 26,055,000 in the previous year due to the impact of COVID-19[24] - Total revenue for the year decreased by 4% to HKD 92,638,000, compared to HKD 96,477,000 in the previous year, primarily due to reduced revenue from the Tianjin water supply business[24] Strategic Developments - The company acquired the remaining 20% of the issued share capital of Huayong International Limited, making it a wholly-owned subsidiary, which aligns with the company's strategic management goals[10] - The company plans to explore new products or services that comply with China's energy-saving and emission reduction policies, while closely monitoring market conditions[9] - The company anticipates benefits from the construction of the new intercity railway in the Baodi District, which is expected to enhance economic development in the area[10] Governance and Compliance - The company has adopted a board diversity policy since August 28, 2013, emphasizing the importance of diversity in enhancing company performance[47] - The board consists of two executive directors, one non-executive director, and three independent non-executive directors, ensuring a diverse skill set and experience[44] - The company has confirmed that all directors fully complied with the trading code during the review year, with no violations reported[42] - The board is responsible for formulating business strategies, reviewing performance, and approving financial statements and annual budgets[43] - The company maintains high transparency and accountability to protect shareholder interests through effective governance practices[40] Risk Management - 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[79] - The group has established a clear organizational structure with defined responsibilities and reporting procedures for risk management and internal controls[79] - The independent risk advisory firm conducts annual reviews of the adequacy and effectiveness of the group's risk management and internal control systems[83] - The audit committee and board believe that the risk management and internal control systems are fundamentally effective and adequate[83] Financial Ratios and Assets - Current assets net value as of October 31, 2020, was approximately HKD 26,867,000, down from HKD 44,881,000 in 2019[30] - The current ratio was approximately 1.34 as of October 31, 2020, compared to 1.62 in 2019[30] - The debt-to-equity ratio was about 11% as of October 31, 2020, down from 18% in 2019[32] - Total assets decreased to HKD 197,273,000 from HKD 204,607,000, while total liabilities increased to HKD 94,988,000 from HKD 99,328,000[156] Shareholder Communication - The group has adopted a shareholder communication policy to ensure that shareholders and potential investors can access unbiased and easily understandable information[85] - The company has established multiple channels for communication with shareholders, enhancing engagement with existing and potential investors[86] Environmental and Social Responsibility - The company emphasizes sustainable operations and maintains a strong focus on workplace safety for its employees[113] - The company has implemented policies to minimize environmental impact and comply with applicable environmental regulations[112] Accounting Standards and Changes - The company has adopted new and revised Hong Kong Financial Reporting Standards, which clarify the definition of "materiality" and unify definitions across all standards and frameworks[190] - The revised HKFRS 16 allows lessees to assess certain rent concessions related to the COVID-19 pandemic without treating them as lease modifications[194] - The company is evaluating the impact of adopting the revised HKFRS 16 and considering whether to utilize available exemption options[194] - The company plans to apply the new standards upon their effective dates, ensuring compliance with the latest accounting regulations[191]

Financial Performance - For the nine months ended July 31, 2020, revenue was HKD 65,165,000, a decrease of approximately 13% compared to HKD 75,290,000 for the same period in 2019[6] - The loss attributable to owners of the company for the nine months ended July 31, 2020, was HKD 8,963,000, compared to a loss of HKD 269,000 for the same period in 2019[6] - Basic loss per share for the nine months ended July 31, 2020, was approximately HKD 1.38, compared to HKD 0.04 for the same period in 2019[6] - Gross profit for the nine months ended July 31, 2020, was HKD 17,790,000, down from HKD 21,816,000 in the same period of 2019[7] - Operating profit for the nine months ended July 31, 2020, was HKD 2,680,000, slightly down from HKD 2,689,000 for the same period in 2019[7] - Total comprehensive loss for the nine months ended July 31, 2020, was HKD 6,879,000, compared to a total comprehensive income of HKD 945,000 for the same period in 2019[8] - Other income for the nine months ended July 31, 2020, was HKD 5,950,000, significantly higher than HKD 1,706,000 for the same period in 2019[7] - The company incurred finance costs of HKD 421,000 for the nine months ended July 31, 2020, compared to HKD 382,000 for the same period in 2019[7] - The company’s administrative expenses for the nine months ended July 31, 2020, were HKD 17,664,000, slightly up from HKD 17,209,000 in the same period of 2019[7] Revenue Breakdown - The revenue from the water supply segment for the nine months ended July 31, 2020, was HKD 15,582 thousand, down 16.5% from HKD 18,681 thousand in the previous year[19] - The revenue from environmental products for the nine months ended July 31, 2020, was HKD 49,583 thousand, a decrease of 12.4% compared to HKD 56,609 thousand for the same period in 2019[19] - Revenue from the environmental products business fell by 12% to HKD 49,583,000, down from HKD 56,609,000 in the previous period[26] - The water supply business revenue decreased by 17% to HKD 15,582,000 from HKD 18,681,000 due to the impact of COVID-19[26] Tax and Provisions - The company recognized a tax provision of HKD 10,979 thousand for the nine months ended July 31, 2020, compared to HKD 1,981 thousand for the same period in 2019[20] - The company’s income tax expense for the three months ended July 31, 2020, included a current tax expense of HKD 2,449 thousand from China[20] Corporate Actions and Governance - The company acquired the remaining 20% of the issued share capital of Huayong International Limited, making it a wholly-owned subsidiary, which aligns with the company's strategic management[29] - The company completed the acquisition of the remaining 20% of the issued share capital of Hua Yong International Limited on December 17, 2019, making it a wholly-owned subsidiary[42] - The company has adhered to the corporate governance code as per GEM Listing Rules, with the exception of one independent non-executive director's absence from the annual general meeting due to being outside Hong Kong[41] Shareholding Structure - As of July 31, 2020, the total number of shares held by directors and key executives in the company is zero, indicating no significant insider ownership reported[34] - Virtue Trustees (Switzerland) AG and Wide Sky Management Limited each hold 344,621,200 shares, representing 53.06% of the company's issued shares as of July 31, 2020[36] - Dr. Pak Kwok Ping holds 44,224,000 shares, accounting for 6.81% of the company's issued shares as of July 31, 2020[36] Compliance and Review - The audit committee reviewed the unaudited results for the three and nine months ending July 31, 2020, confirming compliance with applicable accounting standards[47]

Financial Performance - For the six months ended April 30, 2020, revenue was HKD 39,550,000, a decrease of approximately 19% compared to HKD 48,866,000 for the same period in 2019[5] - The loss attributable to owners of the company for the six months ended April 30, 2020, was HKD 9,639,000, compared to a profit of HKD 811,000 for the same period in 2019[5] - Basic loss per share for the six months ended April 30, 2020, was approximately HKD 1.48 cents, compared to basic earnings of HKD 0.12 cents for the same period in 2019[5] - Gross profit for the six months ended April 30, 2020, was HKD 12,398,000, down from HKD 15,807,000 in the same period of 2019[7] - Total comprehensive loss for the six months ended April 30, 2020, was HKD 11,552,000, compared to a total comprehensive income of HKD 4,317,000 for the same period in 2019[9] - The company reported a loss of (HKD 9,639,000) for the period, compared to a profit of HKD 811,000 in the same period last year[15] - Total revenue for the six months ended April 30, 2020, decreased by 19% to HKD 39,550,000 from HKD 48,866,000 in the same period last year[53] - Revenue from the environmental products business fell by 22% to HKD 29,298,000, down from HKD 37,609,000 in the previous period[53] - Gross profit for the six months ended April 30, 2020, was HKD 12,398,000, a decrease of 22% compared to HKD 15,807,000 in the same period last year[57] - The gross profit margin decreased to 31% from 32% in the previous year due to reduced revenue and a decline in the gross margin of the environmental products business[57] Cash Flow and Liquidity - Cash and cash equivalents decreased to HKD 28,497,000 as of April 30, 2020, from HKD 75,413,000 as of October 31, 2019[11] - For the six months ended April 30, 2020, the net cash used in operating activities was (HKD 45,775,000), a significant decrease compared to HKD 3,712,000 for the same period in 2019[13] - The net cash generated from investing activities was HKD 1,494,000, compared to a cash outflow of (HKD 3,043,000) in the previous year[13] - Cash and cash equivalents decreased to HKD 28,497,000 at the end of the period from HKD 75,413,000 at the beginning of the period, representing a decline of approximately 62.2%[13] - Current assets net value as of April 30, 2020, was HKD 42,282,000, down from HKD 44,881,000 as of October 31, 2019[60] - The current ratio as of April 30, 2020, was approximately 1.74, compared to 1.62 as of October 31, 2019[60] - The debt-to-equity ratio as of April 30, 2020, was 14%, down from 18% as of October 31, 2019[62] Assets and Liabilities - Total liabilities decreased to HKD 21,443,000 from HKD 26,594,000, a reduction of approximately 19.5%[12] - The group reported a decrease in total assets to HKD 160,240 thousand as of April 30, 2020, down from HKD 204,607 thousand as of October 31, 2019[29] - The group’s total liabilities decreased to HKD 63,725 thousand as of April 30, 2020, compared to HKD 99,328 thousand as of October 31, 2019[29] - The company’s total liabilities increased to HKD 16,646,000 from HKD 11,513,000, reflecting a growth of about 44.7%[46] Expenses - The company’s administrative expenses increased to HKD 11,828,000 for the six months ended April 30, 2020, compared to HKD 11,777,000 for the same period in 2019[7] - The group’s other corporate expenses decreased to HKD 9,637 thousand for the six months ended April 30, 2020, down from HKD 10,671 thousand in 2019[29] - The company recorded a provision for current tax in China of HKD 1,424,000 for the six months ended April 30, 2020, compared to HKD 1,302,000 in the previous year, an increase of approximately 9.4%[33] - Tax provision for the six months ended April 30, 2020, was HKD 9,990,000, significantly higher than HKD 1,420,000 in the same period last year[59] Shareholder Information - The company did not declare an interim dividend for the six months ended April 30, 2020, consistent with the previous year[35] - The company’s retained earnings decreased to HKD 41,500,000 from HKD 51,139,000, indicating a reduction of about 18.8%[15] - The company’s non-controlling interests decreased to zero from HKD 5,565,000, indicating a complete buyout of minority interests[12] - As of April 30, 2020, Virtue Trustees (Switzerland) AG and Wide Sky Management Limited each held 344,621,200 shares, representing 53.06% of the company's issued shares[73] Corporate Governance - The company has adhered to the corporate governance code as per GEM Listing Rules, with the exception of one independent non-executive director's absence from the annual general meeting due to being outside Hong Kong[79] - The audit committee reviewed the group's unaudited results for the three and six months ended April 30, 2020, confirming compliance with applicable accounting standards[84]

Financial Performance - For the three months ended January 31, 2020, revenue was HKD 18,856,000, a decrease of 19% compared to HKD 23,413,000 for the same period in 2019[6]. - The loss attributable to owners of the company for the three months ended January 31, 2020, was HKD 9,512,000, compared to a profit of HKD 255,000 for the same period in 2019[6]. - Basic loss per share for the three months ended January 31, 2020, was approximately HKD 1.46, while basic earnings per share for the same period in 2019 was HKD 0.04[6]. - Gross profit for the three months ended January 31, 2020, was HKD 5,621,000, down from HKD 8,111,000 in the same period of 2019[7]. - Operating loss for the three months ended January 31, 2020, was HKD 424,000, compared to an operating profit of HKD 1,315,000 for the same period in 2019[7]. - Total comprehensive loss for the three months ended January 31, 2020, was HKD 8,707,000, compared to a total comprehensive income of HKD 2,394,000 for the same period in 2019[9]. - Other income for the three months ended January 31, 2020, was HKD 939,000, compared to HKD 801,000 for the same period in 2019[7]. - The company reported a foreign exchange gain of HKD 644,000 for the three months ended January 31, 2020, down from HKD 1,709,000 in the same period of 2019[9]. - Administrative expenses for the three months ended January 31, 2020, were HKD 5,778,000, compared to HKD 6,339,000 for the same period in 2019[7]. - The company’s financing costs remained stable at HKD 129,000 for both the three months ended January 31, 2020, and 2019[7]. - Total revenue for the three months ended January 31, 2020, decreased by 19% to HKD 18,856,000 from HKD 23,413,000 in the same period last year[24]. - Revenue from environmental products dropped by 26% to HKD 13,176,000 compared to HKD 17,840,000 in the previous year[24]. - Revenue from the water treatment plant business increased by 2% to HKD 5,680,000 from HKD 5,573,000 in the previous year[24]. - The company recorded a loss attributable to owners of HKD 9,512,000 for the three months ended January 31, 2020, compared to a profit of HKD 255,000 for the same period last year[30]. - Gross profit for the same period was HKD 5,621,000, down 31% from HKD 8,111,000 year-on-year, attributed to reduced total revenue and a decline in gross margin from the environmental products business[28]. - Gross margin decreased to 30% for the three months ended January 31, 2020, compared to 35% for the same period last year, due to unfavorable currency fluctuations[28]. - Administrative expenses for the same period were HKD 5,778,000, a decrease of 9% from HKD 6,339,000 year-on-year, primarily due to reduced employee-related bonus expenses[30]. - Tax provision for the three months ended January 31, 2020, was HKD 9,027,000, significantly higher than HKD 961,000 for the same period last year, including HKD 8,400,000 for prior years[30]. Strategic Developments - The company acquired the remaining 20% of the issued share capital of Huayong International Limited, making it a wholly-owned subsidiary, which aligns with the company's strategic management[27]. - The completion of the new intercity railway construction is expected to enhance the economic development of the Baodi District, benefiting the company's water supply operations[27]. - The company is actively seeking new products or services that align with China's energy-saving and emission-reduction policies[25]. - The company anticipates that the PMI will improve as more manufacturers in China gradually resume operations following the COVID-19 outbreak[25]. Governance and Compliance - The company has complied with all corporate governance codes as per GEM Listing Rules Appendix 15 for the three months ended January 31, 2020[40]. - The audit committee reviewed the unaudited financial results for the three months ended January 31, 2020, and confirmed compliance with applicable accounting standards and regulations[46]. - The company has established a remuneration committee to review and recommend remuneration policies for directors and senior management[44]. - The nomination committee was formed to develop nomination policies and make recommendations regarding the appointment of directors[45]. - The company has not encountered any business competition or conflicts of interest from its directors, management shareholders, or major shareholders during the reporting period[42]. Market Challenges - The company faced challenges due to the trade war between China and the United States, which led to a conservative purchasing attitude among customers in the environmental products sector[24]. - The outbreak of COVID-19 further exacerbated the situation, causing a suspension of most business activities during the period[24]. - Current tax expenses for Hong Kong increased to HKD 125,000 from HKD 27,000 in the previous year, while tax expenses for China decreased to HKD 502,000 from HKD 934,000[18]. - No interim dividend was recommended for the three months ended January 31, 2020, and January 31, 2019[20]. - The adoption of HKFRS 16 did not have a significant impact on the group's performance, but certain lease liabilities were recognized as right-of-use assets and lease liabilities[15]. - There were no significant acquisitions or disposals of subsidiaries or associates during the three months ended January 31, 2020[41].

股份代號：8169 (於開曼群島註冊成立之有限公司） 環康集團有限 公 司 2019 年度報告 2019 ANNUAL REPORT Stock Code : 8169 (Incorporated in the Cayman Islands with limited liability) Eco-Tek Holdings Limited Annual Report 2019 年度報告 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主板上市之公司帶有較高投資風險之中小型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。 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分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證券上巿規則（「 ...

Financial Performance - For the nine months ended July 31, 2019, revenue was HKD 75,290,000, a decrease of approximately 11% compared to HKD 84,260,000 for the same period in 2018[4] - The loss attributable to owners of the company for the nine months ended July 31, 2019, was HKD 269,000, compared to a profit of HKD 2,917,000 for the same period in 2018[4] - Basic loss per share for the nine months ended July 31, 2019, was approximately HKD 0.04, while earnings per share for the same period in 2018 was HKD 0.45[4] - Gross profit for the nine months ended July 31, 2019, was HKD 21,816,000, down from HKD 24,542,000 for the same period in 2018[6] - Operating profit for the nine months ended July 31, 2019, was HKD 2,689,000, compared to HKD 5,859,000 for the same period in 2018[6] - Total comprehensive income for the nine months ended July 31, 2019, was HKD 945,000, down from HKD 1,726,000 for the same period in 2018[8] - The company's revenue for the three months ended July 31, 2019, was HKD 26,424,000, a decrease of 9% compared to HKD 29,127,000 for the same period in 2018[28] - The revenue for the nine months ended July 31, 2019, was HKD 75,290,000, down 11% from HKD 84,260,000 for the same period in 2018[28] - The gross margin decreased slightly from 29.13% in the previous year to 28.98% due to unfavorable currency fluctuations, particularly the appreciation of the Japanese yen against the Chinese yuan[37] Segment Performance - The water supply segment generated revenue of HKD 7,424,000 for the three months ended July 31, 2019, compared to HKD 7,149,000 in 2018, reflecting a growth of 4%[28] - The industrial environmental products segment reported revenue of HKD 18,728,000 for the three months ended July 31, 2019, a decline of 14% from HKD 21,751,000 in 2018[28] Expenses and Costs - The company recorded current tax expenses of HKD 561,000 for the three months ended July 31, 2019, compared to HKD 517,000 in 2018, representing an increase of 8%[29] - Administrative expenses increased by 3% to HKD 17,209,000, driven by higher rental and employee-related costs[38] - Sales expenses rose by 11% to HKD 3,624,000, attributed to increased travel and exhibition costs[38] Financial Standards and Reporting - The company adopted Hong Kong Financial Reporting Standard 15, which establishes a single revenue recognition framework, effective from November 1, 2018[12] - The company reported no significant impact on revenue recognition due to the adoption of Hong Kong Financial Reporting Standard 15[12] - The company has applied Hong Kong Financial Reporting Standard 9, which introduces new regulations regarding the classification and measurement of financial assets and liabilities[15] - The company measures expected credit losses based on the simplified approach under Hong Kong Financial Reporting Standard 9, calculating expected credit losses based on the entire expected lifetime of financial assets[19] - The company has not recognized any contract assets or liabilities during the transition period and at the reporting date[14] - The financial assets are classified based on the business model for managing financial assets and their contractual cash flow characteristics[16] - The company has chosen to present changes in the fair value of equity investments not held for trading in other comprehensive income[18] - The company has maintained consistency in accounting policies with the previous audited financial statements, except for the newly adopted standards[11] - The company has not reported any significant adjustments to retained earnings upon the initial application of the new standards[12] - The company’s financial reporting adheres to the applicable disclosure requirements under the Hong Kong Companies Ordinance and GEM Listing Rules[11] Shareholder Information - Major shareholders include Virtue Trustees and Wide Sky Management, each holding 53.06% of the company's issued shares[42] - The company did not purchase or redeem any of its listed securities during the nine months ended July 31, 2019[45] - The company has complied with the corporate governance code as per GEM Listing Rules, except for the absence of independent non-executive directors at the annual general meeting held on April 11, 2019[47] Future Outlook and Market Conditions - The company plans to identify new products or services that align with China's energy-saving and emission-reduction policies amid the ongoing trade tensions[34] - The PMI for China's manufacturing sector was reported at 49.5 in August 2019, indicating a contraction in purchasing activity[34] - The Tianjin water plant has exclusive rights to supply treated water in certain areas, which is expected to benefit from the development of new intercity railways[35] Audit and Compliance - The audit committee reviewed the unaudited financial results for the three and nine months ended July 31, 2019, and confirmed compliance with applicable accounting standards[53]

Financial Performance - For the six months ended April 30, 2019, revenue was HKD 48,866,000, a decrease of approximately 11% compared to HKD 55,133,000 for the same period in 2018[4] - Profit attributable to owners for the six months ended April 30, 2019, was HKD 811,000, down from HKD 1,385,000 in the same period of 2018[4] - Basic earnings per share for the six months ended April 30, 2019, was approximately HKD 0.12, compared to HKD 0.21 for the same period in 2018[4] - Gross profit for the six months ended April 30, 2019, was HKD 15,807,000, slightly up from HKD 15,737,000 in the same period of 2018[6] - Total comprehensive income for the six months ended April 30, 2019, was HKD 4,317,000, compared to HKD 2,805,000 for the same period in 2018[7] - The group reported a profit of HKD 811,000 for the period, which is a decrease from HKD 1,385,000 in the previous period[13] - The company's revenue for the six months ended April 30, 2019, decreased by 11% to HKD 48,866,000 compared to HKD 55,133,000 for the same period last year, primarily due to reduced sales in the industrial environmental protection products business amid the US-China trade war[63] Assets and Liabilities - The company's total assets less current liabilities as of April 30, 2019, amounted to HKD 136,522,000, an increase from HKD 132,457,000 as of October 31, 2018[9] - The company's cash and cash equivalents at the end of the period were HKD 33,428,000, compared to HKD 28,448,000 at the end of the same period in 2018[11] - The company's inventory decreased to HKD 16,199,000 as of April 30, 2019, from HKD 20,471,000 as of October 31, 2018[8] - The company's net asset value as of April 30, 2019, was HKD 109,926,000, up from HKD 105,861,000 as of October 31, 2018[9] - The company's total liabilities decreased to HKD 68,464,000 as of April 30, 2019, from HKD 72,164,000 in 2018, representing a reduction of 5.8%[37] - The accounts payable as of April 30, 2019, increased to HKD 13,146,000 from HKD 10,407,000 as of October 31, 2018, reflecting higher credit extended by suppliers[58] Cash Flow and Operating Activities - Cash generated from operating activities for the six months ended April 30, 2019, was HKD 3,712,000, a significant decrease from HKD 14,949,000 in the same period of 2018[11] - The company reported cash and cash equivalents of HKD 33,428,000 as of April 30, 2019, slightly down from HKD 33,895,000 as of October 31, 2018[56] Equity and Retained Earnings - As of April 30, 2019, the total equity attributable to owners of the company was HKD 99,991,000, an increase from HKD 98,593,000 as of April 30, 2018[13] - The retained earnings increased to HKD 52,524,000 as of April 30, 2019, compared to HKD 48,503,000 as of April 30, 2018, reflecting a growth of approximately 4.2%[13] - The total equity as of April 30, 2019, was HKD 109,926,000, up from HKD 107,820,000 as of April 30, 2018[13] Segment Performance - The industrial environmental products segment generated revenue of HKD 37,492,000 for the six months ended April 30, 2019, down from HKD 43,810,000 in the previous year, reflecting a decline of 14.4%[32] - The water supply plant revenue increased to HKD 11,257,000 for the six months ended April 30, 2019, compared to HKD 10,627,000 in 2018, representing a growth of 5.9%[32] - Reportable segment profit for the six months ended April 30, 2019, was HKD 13,655,000, slightly down from HKD 13,825,000 in 2018, reflecting a decrease of 1.2%[37] Expenses - Administrative expenses increased by 6% to HKD 11,777,000, while selling expenses rose by 13% to HKD 2,152,000 due to increased travel and exhibition costs[67] - Employee costs, including directors' remuneration, increased to HKD 7,300,000 for the six months ended April 30, 2019, compared to HKD 6,816,000 in 2018, reflecting a rise of 7.1%[39] - The company reported a tax expense of HKD 1,420,000 for the six months ended April 30, 2019, down from HKD 1,543,000 in 2018, a decrease of 8.0%[40] - The company’s depreciation expense for the six months ended April 30, 2019, was HKD 1,837,000, down from HKD 2,331,000 in 2018, indicating a decrease of 21.2%[39] Compliance and Governance - The company has complied with the corporate governance code as per GEM listing rules, except for the absence of an independent non-executive director at the annual general meeting due to being outside Hong Kong[86] - The audit committee reviewed the unaudited financial results for the three and six months ended April 30, 2019, and confirmed compliance with applicable accounting standards[91] Accounting Standards - The company adopted HKFRS 15 on November 1, 2018, which establishes a single framework for revenue recognition[16] - The application of HKFRS 9 did not have a significant impact on the company's accounting policies regarding financial liabilities and derivatives[20] - The financial assets classification under HKFRS 9 includes those measured at amortized cost and those measured at fair value through other comprehensive income[22] - The group has chosen to apply transitional provisions of HKFRS 9, which did not require restating prior period financial statements[28] Strategic Initiatives - The company plans to explore new products or services that align with China's energy-saving and emission-reduction policies, indicating a strategic shift in response to market conditions[63] - The Tianjin water plant has exclusive rights to supply treated water to parts of the Tianjin Binhai New Area, which is expected to benefit from the ongoing construction of the new intercity railway[64]

Financial Performance - For the three months ended January 31, 2019, revenue was HKD 23,413,000, a decrease of 26% compared to HKD 31,723,000 for the same period in 2018[4] - Profit attributable to owners of the company for the same period was HKD 255,000, down from HKD 894,000 in the previous year[4] - Basic earnings per share for the quarter were approximately HKD 0.04, compared to HKD 0.14 for the same period last year[5] - Gross profit for the quarter was HKD 8,111,000, slightly down from HKD 8,466,000 in the previous year[6] - Operating profit for the quarter was HKD 1,315,000, compared to HKD 1,693,000 in the same period last year[6] - Total comprehensive income for the period was HKD 2,394,000, an increase from HKD 2,007,000 in the previous year[7] - The gross profit for the same period was HKD 8,111,000, down 4% from HKD 8,466,000 in the previous year, resulting in a gross margin of 35%, up from 27% year-on-year[30] - The tax provision for Hong Kong was HKD 27,000 for the three months ended January 31, 2019, compared to HKD 87,000 in 2018[25] Expenses - The company’s financing costs were HKD 129,000, slightly up from HKD 126,000 in the previous year[6] - The company’s administrative expenses increased to HKD 6,339,000 from HKD 5,792,000 in the previous year[6] - For the three months ended January 31, 2019, the group's administrative expenses were HKD 6,339,000, an increase of 9% compared to HKD 5,792,000 for the same period last year[31] - The group's selling expenses for the three months ended January 31, 2019, were HKD 1,258,000, reflecting a 20% increase from HKD 1,046,000 in the same period last year, primarily due to increased travel expenses[31] Shareholder Information - As of January 31, 2019, Virtue Trustees (Switzerland) AG and Wide Sky Management Limited each held 344,621,200 shares, representing 53.06% of the issued share capital[35] - Dr. Pak Kwok Ping held 44,224,000 shares, accounting for 6.81% of the issued share capital as of January 31, 2019[35] - Mr. Lee Wai Man owned 35,620,000 shares, which is 5.48% of the issued share capital as of January 31, 2019[35] Corporate Governance - The company has complied with the corporate governance code as per GEM Listing Rules Appendix 15 during the three months ended January 31, 2019[39] - There were no reported conflicts of interest or competition with the group's business from directors or major shareholders during the three months ended January 31, 2019[40] - The audit committee reviewed the unaudited results for the three months ended January 31, 2019, and confirmed compliance with applicable accounting standards[44] Accounting Standards - The company adopted Hong Kong Financial Reporting Standard No. 15 on November 1, 2018, establishing a single revenue recognition framework[11] - The implementation of HKFRS 15 did not have a significant impact on the company's revenue recognition[11] - The company applied HKFRS 9, which introduced classification and measurement of financial assets and liabilities, as well as expected credit loss provisions[14] - The expected credit loss model requires the company to recognize loss allowances for financial assets, including trade receivables and bank balances[17] - The company has chosen to use the simplified approach for measuring expected credit losses on trade receivables, calculating losses based on the lifetime expected credit losses[17] - The assessment of significant increases in credit risk is based on a comparison of default risk at the reporting date with that at initial recognition[18] - The company considers various qualitative and quantitative data, including historical experience and forward-looking information, in assessing credit risk[19] - The company has not recognized any contract liabilities during the transition period[13] - The financial assets are classified based on the business model for managing the assets and the contractual cash flow characteristics[15] - The company confirmed that there were no contract assets recognized during the transition period and at the reporting date[13] Market Conditions - Sales of industrial environmental products decreased significantly due to the adverse market conditions stemming from the US-China trade war[30] - The Tianjin water plant has exclusive rights to supply processed tap water to Baodi District and surrounding areas, which is expected to benefit from the development of new intercity railways[28] - The company will continue to seek new products or services that align with China's energy-saving and emission-reduction policies[28] Other Information - The company did not recommend any interim dividends for the three months ended January 31, 2019, and 2018[26] - The weighted average number of ordinary shares in issue was 649,540,000 for both periods under review[27] - The company did not purchase or sell any of its listed securities during the three months ended January 31, 2019[37]