Financial Performance - The group recorded a net loss attributable to the owners of approximately HKD 26.8 million for the year, compared to a net loss of approximately HKD 37.8 million in the previous year[15]. - The group's revenue for the reporting year was approximately HKD 135.1 million, a decrease of about 7.9% compared to approximately HKD 146.7 million for the year ended March 31, 2022[24]. - The cost of sales for the reporting year was approximately HKD 142.1 million, a decrease of about 16.5% from approximately HKD 170.1 million for the year ended March 31, 2022[25]. - The group's gross loss for the reporting year was approximately HKD 7.0 million, a reduction of about 70.2% from approximately HKD 23.4 million for the year ended March 31, 2022[27]. - Administrative expenses increased by approximately 41.1% to about HKD 20.1 million from approximately HKD 14.2 million for the year ended March 31, 2022[28]. - The group recorded a loss attributable to owners of approximately HKD 26.8 million for the reporting year, compared to a loss of approximately HKD 37.8 million for the year ended March 31, 2022[29]. Business Strategy and Development - The group plans to develop new business segments in technology innovation, including smart building technology and financial technology[12]. - The group aims to improve operational efficiency and profitability through rigorous cost control measures and enhanced project management capabilities[9]. - The group intends to actively seek potential business opportunities to diversify revenue sources and enhance shareholder returns[10]. - The group will continue to bid for contracts, particularly those with higher profit margins, to improve business performance[9]. - The group is optimistic about future business prospects, driven by the growing consumption market in China, which is expected to become the world's largest consumer market[10]. Investments and Financial Management - The company completed a rights issue on May 3, 2022, issuing 81,000,000 shares at a subscription price of HKD 0.55 per share, raising approximately HKD 42.3 million net after expenses[37]. - As of March 31, 2023, approximately HKD 32.1 million of the net proceeds from the rights issue had been utilized, leaving a balance of about HKD 10.2 million for future planned uses[41]. - The company allocated approximately HKD 20 million for the purchase of a new office and related renovation costs, with HKD 17.8 million already spent by March 31, 2023[41]. - The company plans to hire additional full-time employees with an allocated budget of HKD 7 million, of which only HKD 0.8 million has been utilized as of March 31, 2023[41]. - The company announced the issuance of convertible bonds to raise approximately HKD 29.4 million for the acquisition of Jun Da Holdings Limited, which was later terminated[42]. Corporate Governance - The company emphasizes the importance of high corporate governance standards to maintain shareholder trust and long-term value creation[87]. - The board of directors consists of one executive director and three independent non-executive directors, ensuring compliance with GEM listing rules[100]. - The company has adopted a code of conduct for securities trading by directors, confirming no non-compliance incidents during the reporting year[89]. - The company has established three board committees: the Remuneration Committee, the Nomination Committee, and the Audit Committee, each with clear written terms of reference[108]. - The company has implemented a corporate governance code in accordance with GEM listing rules, ensuring adherence to all applicable provisions[88]. Risk Management and Internal Controls - The company maintains effective internal control and risk management systems to safeguard shareholder investments and group assets[145]. - The risk management process includes annual risk identification and assessment, with results documented for board and management review[146]. - The board reviews the effectiveness of the internal control system annually, with independent consultants conducting assessments[153]. - The company has established a whistleblowing policy to guide reporting of fraud and misconduct, ensuring confidentiality of reports[149]. Environmental, Social, and Governance (ESG) Initiatives - The company is committed to integrating environmental, social, and governance (ESG) considerations into its business strategy for sustainable development[158]. - The group is actively seeking alternatives to carbon-intensive concrete, which is a major source of carbon footprint in the industry[159]. - The ESG report covers the group's environmental and social performance from April 1, 2022, to March 31, 2023, highlighting its commitment to sustainability[160]. - The company aims to integrate green development concepts into its business strategy and operations to reduce its environmental footprint and achieve long-term sustainability[175]. - The company has set short-term emission reduction targets based on resource usage for the fiscal year 2022/2023[174]. Employee and Stakeholder Engagement - The company is committed to ensuring employee health and safety through regular emergency drills and safety meetings[187]. - The company values stakeholder feedback, particularly regarding significant ESG issues identified in its materiality assessment[167]. - The company encourages feedback from investors and stakeholders, facilitating communication through its main business location in Hong Kong[155]. - The company has engaged qualified waste collectors to manage construction waste in compliance with relevant laws and standards[199].

Financial Performance - Revenue for the three months ended December 31, 2022, was HKD 28,319,000, a decrease of 23.2% compared to HKD 36,850,000 for the same period in 2021[3] - Gross profit for the nine months ended December 31, 2022, was a loss of HKD 7,407,000, compared to a profit of HKD 2,380,000 for the same period in 2021[3] - Operating profit for the three months ended December 31, 2022, was HKD 6,458,000, compared to an operating loss of HKD 5,986,000 for the same period in 2021[3] - The net profit attributable to owners of the company for the nine months ended December 31, 2022, was a loss of HKD 20,490,000, compared to a loss of HKD 16,068,000 for the same period in 2021[3] - The company reported total comprehensive loss for the nine months ended December 31, 2022, of HKD 20,565,000, compared to a loss of HKD 16,317,000 for the same period in 2021[3] - Basic and diluted loss per share for the nine months ended December 31, 2022, was HKD 16.0 cents, compared to HKD 7.1 cents for the same period in 2021[3] - For the nine months ended December 31, 2022, the total revenue was HKD 86,344,000, a decrease of 20.8% compared to HKD 108,981,000 for the same period in 2021[10] - Construction contract revenue for the three months ended December 31, 2022, was HKD 27,596,000, down 25.3% from HKD 36,850,000 in the same period of 2021[10] Equity and Financing - The company raised HKD 44,550,000 through a rights issue during the nine months ended December 31, 2022[4] - As of December 31, 2022, total equity attributable to owners of the company was HKD 79,658,000, a decrease from HKD 73,272,000 as of December 31, 2021[4] - The company announced a rights issue on January 14, 2022, offering 3 shares for every 2 held at a price of HKD 0.55 per share, raising approximately HKD 44.55 million[32] - The rights issue was completed on May 3, 2022, with 81,000,000 shares issued, netting approximately HKD 42.6 million after expenses[33] - As of December 31, 2022, approximately HKD 31.4 million of the net proceeds from the rights issue had been utilized, leaving a balance of HKD 11.2 million[36] - The company issued convertible bonds to raise HKD 29.4 million for the acquisition of Jun Da Holdings, but the acquisition was terminated on December 12, 2022[37] - The company completed a placement of new shares on December 2, 2022, raising approximately HKD 6.5 million for general working capital[40] - The net proceeds from the rights issue were allocated for various purposes, including HKD 20 million for new office property and related renovations[33] - The remaining HKD 9.5 million from the rights issue is designated for general working capital due to cash flow pressures from the COVID-19 pandemic[33] Operational Insights - The company is engaged in foundation engineering and has invested significantly in machinery and equipment for drilling pile construction[6] - The group faced similar business risks in its core operations of foundation engineering and machinery leasing[12] - The overall industry outlook remains challenging due to uncertainties from the COVID-19 pandemic affecting the foundation industry[23] - The company plans to invest in human resources and information systems to enhance operational capabilities and efficiency in foundation and drilling projects[23] - The company aims to pursue potential business opportunities to diversify revenue sources and increase shareholder returns[23] Governance and Compliance - The company has complied with all applicable code provisions of the corporate governance code during the nine months ended December 31, 2022[57] - The audit committee, established on September 22, 2017, consists of independent non-executive directors and reviews the financial information and internal control systems[59] - The audit committee has reviewed the unaudited condensed consolidated financial statements for the nine months ended December 31, 2022, ensuring compliance with applicable accounting standards[59] - All directors confirmed compliance with the trading regulations set forth in the GEM Listing Rules during the nine months ending December 31, 2022[52] Shareholder Information - Major customers contributing over 10% of revenue included Customer 3 with HKD 9,175,000 and Customer 4 with HKD 39,180,000 for the nine months ended December 31, 2022[15] - The group did not recognize any revenue from customer contracts exceeding 10% in the nine months ended December 31, 2022, compared to HKD 38,108,000 from Customer 2 in the same period of 2021[15] - As of December 31, 2022, major shareholders included Jinshi One Limited Partnership Fund and Jinshi Wealth Management Limited, each holding approximately 20.69% of the company’s shares[47] - The company did not engage in any purchase, sale, or redemption of its listed securities during the nine months ending December 31, 2022[50] - There were no reported conflicts of interest or competition from directors or major shareholders during the nine months ending December 31, 2022[51] Stock Options - The stock option plan aims to reward qualified participants contributing to the group's business success, effective from September 22, 2017, for a duration of ten years[54] - The maximum number of unexercised stock options that can be granted is capped at 10% of the company's issued shares at any time[54] - No stock options were granted, exercised, expired, or lapsed during the nine months ended December 31, 2022, and there are no unexercised stock options under the plan[56] - The exercise price of stock options is determined by the board and cannot be lower than the higher of the closing price on the offer date or the average closing price over the preceding five trading days[55] - The stock options do not confer any rights to dividends or voting at shareholder meetings[55]

Financial Performance - The company reported a total revenue of HKD 32,389 thousand for the three months ended September 30, 2022, a decrease of 28.2% compared to HKD 44,988 thousand in the same period of 2021[11]. - Gross loss for the six months ended September 30, 2022, was HKD 19,858 thousand, compared to a gross profit of HKD 4,769 thousand for the same period in 2021[11]. - The company incurred a total comprehensive loss attributable to owners of HKD 12,134 thousand for the three months ended September 30, 2022, compared to a loss of HKD 10,945 thousand in the same period of 2021[11]. - Operating loss for the six months ended September 30, 2022, was HKD 27,006 thousand, significantly higher than the loss of HKD 10,391 thousand for the same period in 2021[11]. - For the six months ended September 30, 2022, total revenue was HKD 58,025 thousand, a decrease of 19.6% compared to HKD 72,131 thousand for the same period in 2021[37]. - Construction contract revenue for the six months ended September 30, 2022, was HKD 56,241 thousand, down 21.9% from HKD 72,131 thousand in the previous year[38]. - The total comprehensive loss for the six months ended September 30, 2022, was HKD 26,925 thousand, compared to a loss of HKD 10,719 thousand for the same period in 2021[27]. - The company reported a loss attributable to owners of the company of HKD 26,925,000 for the six months ended September 30, 2022, compared to a loss of HKD 10,719,000 for the same period in 2021[51]. - The basic and diluted loss per share for the six months ended September 30, 2022, was HKD 22.3, compared to HKD 5.3 for the same period in 2021[51]. - The company recorded a net loss of approximately HKD 27.0 million for the six months ended September 30, 2022, compared to a net loss of approximately HKD 10.7 million for the same period in 2021, representing an increase in loss of about 152.3%[99]. Assets and Liabilities - Non-current assets increased to HKD 58,796 thousand as of September 30, 2022, compared to HKD 56,055 thousand as of March 31, 2022[13]. - Current assets totaled HKD 66,742 thousand as of September 30, 2022, up from HKD 56,538 thousand as of March 31, 2022[13]. - The company's net asset value increased to HKD 66,710 thousand as of September 30, 2022, compared to HKD 50,526 thousand as of March 31, 2022[13]. - The company's total liabilities decreased to HKD 58,828 thousand as of September 30, 2022, from HKD 62,067 thousand as of March 31, 2022[13]. - The company had a total equity attributable to owners of approximately HKD 66.7 million as of September 30, 2022, compared to approximately HKD 50.5 million as of March 31, 2022[106]. - The company has a total debt of approximately HKD 9.3 million as of September 30, 2022, down from HKD 15.9 million as of March 31, 2022[117]. - The company's debt-to-equity ratio is approximately 13.9% as of September 30, 2022, a decrease from 31.5% as of March 31, 2022[117]. Cash Flow - The net cash outflow from operating activities for the six months ended September 30, 2022, was HKD 9,517 thousand, compared to HKD 3,648 thousand in the previous year[32]. - The net cash inflow from financing activities for the six months ended September 30, 2022, was HKD 36,152 thousand, significantly up from HKD 14,513 thousand in the same period of 2021[32]. - The cash and cash equivalents at the end of the period increased to HKD 18,187 thousand from HKD 12,283 thousand in the previous year[32]. - The company aims to maintain a strong and prudent cash management policy to capitalize on future growth opportunities[124]. Operational Developments - The company plans to continue investing in machinery and equipment to enhance operational capabilities[33]. - The company plans to invest in human resources and information systems to enhance operational capabilities and efficiency in foundation and drilling projects[99]. - The company aims to seek potential business opportunities to expand revenue sources and increase shareholder returns, particularly in the financial and fintech sectors[99]. - The overall industry outlook remains challenging due to uncertainties from the COVID-19 pandemic, impacting the foundation industry with supply chain disruptions and labor shortages[99]. - The company plans to hire additional full-time employees, with an allocated budget of HKD 7 million, which has not yet been utilized as of September 30, 2022[113]. Shareholder Information - The company completed a rights issue on May 3, 2022, issuing 81,000,000 shares at a subscription price of HKD 0.55 per share, raising approximately HKD 42.6 million net after expenses[110]. - As of September 30, 2022, the actual use of the net proceeds from the rights issue amounted to approximately HKD 30.0 million, with a remaining balance of HKD 12.6 million to be utilized as planned[113]. - The company plans to use approximately HKD 20 million from the rights issue for the purchase of new office premises and related renovation costs, with actual expenditure of HKD 16.4 million as of September 30, 2022[113]. - The company did not recommend the payment of an interim dividend for the six months ended September 30, 2022[130]. - As of September 30, 2022, the largest shareholder, China New Economy Investment Limited, held 25,958,750 shares, representing 19.23% of the company's total issued shares[133]. Governance and Compliance - The financial statements were prepared in accordance with Hong Kong Financial Reporting Standards, ensuring compliance and transparency[34]. - The company has complied with all applicable provisions of the corporate governance code as of September 30, 2022[145]. - The audit committee reviewed the unaudited condensed consolidated financial statements for the six months ended September 30, 2022, and found them to comply with applicable accounting standards and GEM listing rules[146]. - The audit committee consists of three independent non-executive directors, ensuring appropriate financial management expertise[146]. - The company is committed to high levels of corporate governance to enhance shareholder value and accountability[145]. Employee and Operational Costs - Total employee costs for the six months ended September 30, 2022, amounted to approximately HKD 30.0 million, compared to HKD 18.5 million for the same period in 2021, reflecting a year-on-year increase of 62.16%[129]. - As of September 30, 2022, the company had 80 full-time employees, unchanged from the previous year[129]. Risk Management - The company has no significant foreign exchange risk as its operations and borrowings are primarily conducted in Hong Kong dollars[119]. - The company faced no significant contingent liabilities as of September 30, 2022, with all construction projects insured[126].

Financial Performance - The company reported revenue of HKD 25,636,000 for the three months ended June 30, 2022, a decrease of 5.6% compared to HKD 27,143,000 in the same period last year[8]. - The cost of sales increased significantly to HKD 34,504,000, resulting in a gross loss of HKD 8,868,000 compared to a gross profit of HKD 3,327,000 in the previous year[8]. - Operating loss for the period was HKD 15,734,000, a decline from an operating profit of HKD 367,000 in the prior year[8]. - The company recorded a total comprehensive loss attributable to owners of HKD 14,791,000 for the period, compared to a comprehensive income of HKD 226,000 in the same quarter last year[6]. - Basic and diluted loss per share was HKD 13.57, compared to earnings of HKD 0.49 per share in the previous year[6]. - The group recorded a net loss of HKD 14,791,000 for the three months ended June 30, 2022, compared to a net profit of HKD 226,000 for the same period in 2021, indicating a significant decline in profitability[44]. Administrative and Operational Costs - Administrative expenses rose to HKD 7,819,000, up from HKD 3,209,000 in the same period last year, indicating increased operational costs[8]. - The increase in administrative expenses was attributed to legal and professional fees related to the rights issue and increased marketing expenses due to business development[52]. - The group faced cost overruns in its drilling pile projects, particularly due to delays in the Hung Hom project, leading to a decline in gross profit[52]. - The group's financing costs decreased to HKD 143,000 in the three months ended June 30, 2022, from HKD 251,000 in the same period of 2021[39]. Revenue Sources and Customer Contributions - Major customer contributions included HKD 15,062,000 from Customer 1 and HKD 6,763,000 from Customer 2, with Customer 1 representing over 10% of total revenue[32]. - The company reported other income of HKD 850,000, an increase from HKD 249,000 in the previous year, reflecting some diversification in revenue sources[8]. Rights Issue and Capital Management - The group completed a rights issue on May 3, 2022, issuing 81,000,000 shares at a subscription price of HKD 0.55 per share, raising approximately HKD 42.6 million net of estimated expenses[65]. - Approximately HKD 20 million from the rights issue proceeds will be used for the purchase of a new office and related renovation costs[65]. - The actual usage of the rights issue proceeds included HKD 3.1 million for the repayment of convertible notes and HKD 2.1 million for the purchase of new office properties and related renovations[69]. - The company plans to hire full-time employees with an allocated budget of HKD 7.0 million, of which none has been utilized as of June 30, 2022[69]. - Business development and marketing expenses accounted for HKD 1.0 million out of the planned HKD 3.0 million[69]. Governance and Compliance - The financial statements were prepared in accordance with Hong Kong Financial Reporting Standards, ensuring compliance with local regulations[25]. - The unaudited consolidated financial statements for the three months ended June 30, 2022, have been reviewed by the audit committee[84]. - The audit committee believes that the financial statements comply with applicable accounting standards and GEM listing rules, ensuring adequate disclosure[84]. - The board of directors includes executive directors and independent non-executive directors, ensuring a diverse governance structure[85]. Market Environment and Future Plans - The overall industry and business environment remain challenging due to the ongoing COVID-19 pandemic, impacting the foundation industry with supply chain disruptions and labor shortages[53]. - The company has invested significantly in machinery and equipment for foundation engineering, indicating a focus on enhancing operational capabilities[24]. - The company is engaged in foundation engineering and has a range of drilling equipment, which positions it for potential market expansion[24]. - The group plans to invest in human resources and information systems to enhance operational capabilities and efficiency in foundation and site preparation works[53]. Shareholder Information - Major shareholders include China New Economy Investment Limited with a 19.53% stake and Success Run International Limited with a 13.59% stake as of June 30, 2022[73]. - The total number of shares issued after the completion of the rights issue in May 2022 was 135,000,000 shares, each with a par value of HKD 0.5[67]. - The group did not declare an interim dividend for the three months ended June 30, 2022, consistent with the previous year[43]. - The board did not recommend the payment of an interim dividend for the three months ended June 30, 2022[58]. Share Option Scheme - The company has adopted a share option scheme effective from September 22, 2017, which allows for the issuance of options up to 10% of the total issued shares at any time[79]. - No share options were granted, exercised, expired, or lapsed during the three months ending June 30, 2022[81].

Financial Performance - The company recorded a net loss of approximately HKD 37.8 million for the year ended March 31, 2022, compared to a net loss of approximately HKD 14.7 million for the same period in 2021, primarily due to cost overruns in foundation works and a decrease in other income[16][29]. - Revenue for the year ended March 31, 2022, was approximately HKD 146.7 million, an increase of about 3.5% from approximately HKD 141.8 million for the year ended March 31, 2021, mainly due to an increase in contracts awarded[25]. - The company's cost of sales increased to approximately HKD 170.1 million for the year ended March 31, 2022, a rise of about 34.4% from approximately HKD 126.6 million for the previous year, attributed to delays in project progress[26]. - Gross loss for the year ended March 31, 2022, was approximately HKD 23.4 million, a decrease of about 253.9% compared to a gross profit of approximately HKD 15.2 million for the previous year, with a gross loss margin of approximately 15.9%[27]. - Administrative expenses decreased to approximately HKD 14.2 million for the year ended March 31, 2022, down about 7.2% from approximately HKD 15.3 million for the previous year, mainly due to a reduction in legal and professional fees[28]. Business Strategy and Development - The company plans to implement rigorous cost control measures to improve operational efficiency and profitability[10]. - The company is actively seeking potential business opportunities to expand revenue sources and enhance shareholder returns[11]. - The group intends to develop new business segments in technology innovation, including smart building technology and financial technology[11]. - An acquisition agreement has been established to acquire an investment holding company primarily engaged in financial and fintech businesses[11]. - The company aims to diversify its revenue sources by exploring opportunities in the financial and fintech sectors, which are seen as having significant growth potential[17]. Operational Efficiency - The company is focused on enhancing project management capabilities to improve overall workflow efficiency[11]. - The group will continue to bid for contracts, particularly those with higher profit margins, while managing operational costs[10]. - The company plans to invest in human resources and information systems to enhance operational capabilities and efficiency in foundation and drilling works[17]. - The company plans to hire additional full-time employees to enhance operational capabilities and business development efforts[45]. Corporate Governance - The company emphasizes high levels of corporate governance to maintain shareholder trust and create long-term value[71][72]. - The board of directors is responsible for overseeing the company's overall strategy and financial performance, ensuring accountability and transparency[74]. - The company has adopted the GEM Listing Rules for securities trading by directors, confirming compliance with all applicable regulations during the reporting year[73]. - The company has established three board committees: the remuneration committee, nomination committee, and audit committee, each with clear written terms of reference[88]. - The company has maintained compliance with the corporate governance code during the fiscal year ending March 31, 2022[72]. Environmental, Social, and Governance (ESG) Initiatives - The company is committed to sustainable development and has integrated environmental, social, and governance (ESG) considerations into its business strategy[136]. - The company is seeking alternatives to carbon-intensive concrete, which is a major source of carbon footprint in the industry[137]. - The company actively welcomes stakeholder feedback, especially regarding significant ESG issues identified in its importance assessment[146]. - The company has established multiple communication channels with shareholders to ensure timely and unbiased information dissemination[132]. - The company aims to implement measures to improve environmental, social, and governance management and performance in the upcoming fiscal year[154]. Waste and Resource Management - The group generated a total of 130,159.88 tons of non-hazardous waste in the fiscal year 2021/2022, significantly increasing compared to the previous fiscal year[175]. - The group has adopted the 3R principles (Reduce, Reuse, Recycle) in its waste management policy to minimize waste disposal and promote effective use of natural resources[179]. - The group has implemented a centralized waste collection system in its offices to efficiently manage waste generated by employees[179]. - The group plans to expand the disclosure scope to include all types of solid waste generated across its business operations in the future[179]. - The group aims to reduce solid waste and wastewater levels in the fiscal year 2022/2023, maintaining levels not exceeding those of the fiscal year 2021/2022[187].

Financial Performance - Revenue for the third quarter of 2021 was HKD 36,850,000, an increase of 11.0% compared to HKD 33,101,000 in the same period of 2020[6] - Gross loss for the third quarter was HKD 2,389,000, compared to a gross profit of HKD 1,275,000 in the same quarter of 2020[6] - Operating loss for the nine months ended December 31, 2021, was HKD 16,377,000, significantly higher than HKD 3,831,000 for the same period in 2020[6] - The company reported a net loss attributable to owners of HKD 5,349,000 for the third quarter, compared to a loss of HKD 378,000 in the same quarter of 2020[6] - Total comprehensive loss for the nine months ended December 31, 2021, was HKD 16,068,000, compared to HKD 2,788,000 for the same period in 2020[6] - Total revenue for the nine months ended December 31, 2021, was HKD 108,981,000, an increase of 23.3% compared to HKD 88,458,000 for the same period in 2020[15] - Construction contract revenue for the three months ended December 31, 2021, was HKD 36,850,000, up from HKD 32,316,000 in the same period of 2020, representing a growth of 14.5%[15] - The company reported a net loss attributable to shareholders of approximately HKD 16.1 million for the nine months ended December 31, 2021, compared to a loss of approximately HKD 2.8 million for the same period in 2020, representing an increase in loss of about 474.6%[31] - Revenue for the nine months ended December 31, 2021, was approximately HKD 109.0 million, an increase of about 20.3% from approximately HKD 90.6 million for the same period in 2020[33] - The cost of sales for the nine months ended December 31, 2021, was approximately HKD 106.6 million, an increase of about 31.1% from approximately HKD 81.3 million for the same period in 2020[35] - Gross profit for the nine months ended December 31, 2021, was approximately HKD 2.4 million, a decrease of about 74.2% from approximately HKD 9.3 million for the same period in 2020, resulting in a gross margin decline from approximately 10.3% to 2.2%[36] Expenses and Costs - The company incurred finance costs of HKD 131,000 in the third quarter, down from HKD 368,000 in the same period of 2020[6] - The group reported a total finance cost of HKD 510,000 for the nine months ended December 31, 2021, down from HKD 1,182,000 in the same period of 2020[22] - The deferred tax expense for the nine months ended December 31, 2021, was HKD 819,000, compared to HKD 2,225,000 for the same period in 2020[24] - The company’s administrative expenses for the third quarter were HKD 3,253,000, a decrease from HKD 3,726,000 in the same quarter of 2020[6] Equity and Financing - The company’s total equity as of December 31, 2021, was HKD 73,272,000, an increase from HKD 62,616,000 as of December 31, 2020[8] - The company completed a rights issue on May 3, 2021, raising approximately HKD 25 million, which will be used to repay overdue payables and bank loans[41] - The company completed the placement of new shares on September 21, 2021, raising approximately HKD 7.3 million net after expenses, with a net issue price of HKD 0.162 per share[45] - The proceeds from the placement were allocated as follows: HKD 4.3 million for repaying overdue payables exceeding 180 days and HKD 3 million for general working capital[47] - As of December 31, 2021, HKD 3 million of the net proceeds had been utilized for general working capital, while the remaining HKD 4.3 million was planned for repaying overdue payables[48] Business Operations and Strategy - The company plans to continue investing in machinery and equipment for its foundation engineering business[11] - The company plans to invest in human resources and information systems to enhance operational capabilities and efficiency in foundation and drilling works[32] - The company aims to improve operational efficiency and profitability while actively seeking potential business opportunities to expand revenue sources[32] - The overall industry outlook remains challenging due to uncertainties caused by the COVID-19 pandemic, impacting supply chains and labor availability[32] Governance and Compliance - The company has adopted the GEM Listing Rules regarding securities trading by directors, confirming compliance for the nine months ending December 31, 2021[61] - The audit committee has reviewed the unaudited condensed consolidated financial statements for the nine months ending December 31, 2021, and found them to comply with applicable accounting standards and GEM Listing Rules[69] - The company has established a stock option plan effective from September 22, 2017, which will remain valid for ten years unless revoked or amended[62] - The maximum number of unexercised stock options that can be granted under the stock option plan is capped at 10% of the company's issued shares at any time[64] - The company has complied with all applicable provisions of the corporate governance code as of the nine months ending December 31, 2021[66] - The audit committee consists of independent non-executive directors, ensuring proper oversight of financial reporting and internal controls[67] - The company has a governance structure in place to ensure transparency and accountability in its operations[68] - The chairman and executive directors are actively involved in the company's governance and strategic direction[70] Shareholder Matters - The board did not recommend any dividend for the nine months ended December 31, 2021, consistent with the previous year[27] - The company did not recommend the payment of dividends for the nine months ended December 31, 2021, consistent with the same period in 2020[39] - The company announced a share consolidation on January 14, 2022, proposing to consolidate every 5 existing shares into 1 consolidated share, pending shareholder approval[49] - A rights issue was proposed on January 14, 2022, to issue 81,000,000 rights shares at HKD 0.55 per share, aiming to raise approximately HKD 44.6 million[50] - The rights issue is expected to strengthen the company's capital base and improve its financial position without increasing debt or financing costs[50] Market and Competition - Major customers contributing over 10% of total revenue included Customer 1 with HKD 13,776,000 and Customer 2 with HKD 38,108,000 for the nine months ended December 31, 2021[22] - The company reported no competition or conflict of interest involving its directors, controlling shareholders, or major shareholders during the nine months ended December 31, 2021[59] - No new business opportunities that could constitute competition with the company's existing and future business were reported during the nine months ended December 31, 2021[60] - There were no purchases, sales, or redemptions of the company's listed securities by the company or its subsidiaries during the nine months ended December 31, 2021[58]

Revenue Performance - The company reported a revenue of HKD 44,988,000 for the three months ended September 30, 2021, compared to HKD 24,773,000 for the same period in 2020, representing an increase of 81.5%[8] - For the six months ended September 30, 2021, the revenue was HKD 72,131,000, up from HKD 57,474,000 in the same period of 2020, indicating a growth of 25.6%[8] - Total revenue for the six months ended September 30, 2021, was HKD 72,131,000, an increase of 28.5% compared to HKD 56,142,000 for the same period in 2020[26] - Construction contract revenue for the three months ended September 30, 2021, was HKD 44,988,000, up 88.0% from HKD 23,960,000 in the same period of 2020[28] - The group’s construction contract income for the six months ended September 30, 2021, was HKD 72,131,000, reflecting a strong performance in the construction sector[26] Profitability and Loss - The gross profit for the three months ended September 30, 2021, was HKD 1,442,000, a decrease from HKD 5,355,000 in the same period of 2020, reflecting a decline of 73.1%[8] - The company incurred an operating loss of HKD 10,758,000 for the three months ended September 30, 2021, compared to an operating loss of HKD 2,217,000 in the same period of 2020, representing an increase in loss of 384.5%[8] - The net loss attributable to the owners of the company for the three months ended September 30, 2021, was HKD 10,945,000, compared to HKD 2,744,000 in the same period of 2020, indicating an increase in loss of 298.5%[8] - The total comprehensive loss for the period was HKD 10,968,000, compared to HKD 2,413,000 in the same period of 2020, reflecting an increase of 354.5%[8] - The group recorded a loss attributable to owners of the company of approximately HKD 10.7 million for the six months ended September 30, 2021, compared to a loss of approximately HKD 2.4 million for the same period in 2020[92] Expenses and Costs - The company’s administrative expenses for the three months ended September 30, 2021, were HKD 4,703,000, a slight decrease from HKD 4,987,000 in the same period of 2020[8] - The group's cost of sales for the six months ended September 30, 2021, was approximately HKD 67.3 million, an increase of about 36.2% from approximately HKD 49.4 million for the same period in 2020[88] - The increase in administrative expenses for the six months ended September 30, 2021, was approximately 3.9%, rising to about HKD 7.9 million from approximately HKD 7.6 million for the same period in 2020[91] Financial Position - The company’s total assets as of September 30, 2021, were reported in the unaudited consolidated financial position statement[10] - Total non-current assets amounted to HKD 56,700 million, an increase from HKD 56,012 million[11] - Current assets totaled HKD 77,770 million, compared to HKD 76,682 million in the previous period[11] - Current liabilities decreased significantly to HKD 44,990 million from HKD 65,797 million[11] - Net current assets increased to HKD 32,780 million, up from HKD 10,885 million[11] - Total assets less current liabilities reached HKD 89,480 million, compared to HKD 66,897 million previously[11] - Total equity rose to HKD 78,621 million, up from HKD 54,766 million[13] - The group completed a rights issue on May 3, 2021, raising approximately HKD 25 million, which was used to repay overdue payables and bank loans[98] - The group completed a placement of new shares on September 21, 2021, raising approximately HKD 7.3 million, which remains unutilized as of September 30, 2021[103] Cash Flow and Liquidity - Cash and cash equivalents at the end of the period were HKD 12,283 million, an increase from HKD 7,532 million[18] - The net cash inflow from financing activities was HKD 14,513 million, compared to a net outflow of HKD 4,210 million in the previous period[18] - As of September 30, 2021, the group had cash and bank balances of approximately HKD 12.3 million, up from approximately HKD 7.5 million as of March 31, 2021[93] - The group maintains a prudent treasury policy to ensure a strong and healthy liquidity position for future growth opportunities[110] Impairment and Provisions - The financial assets impairment loss for the three months ended September 30, 2021, was HKD 7,640,000, compared to HKD 3,958,000 in the same period of 2020, indicating an increase of 92.5%[8] - The company reported engineering receivables of HKD 51,379,000 as of September 30, 2021, with a provision for impairment losses of HKD 24,646,000, compared to HKD 52,986,000 and HKD 18,108,000, respectively, as of March 31, 2021[55] - The total amount of warranty receivables as of September 30, 2021, was HKD 5,817,000, with an impairment provision of HKD 3,929,000[55] - The provision for impairment of engineering receivables and warranty receivables amounted to HKD 10,807 million as of April 1, 2020, and HKD 6,538 million for the period ended March 31, 2021[59] Employee and Operational Efficiency - The company plans to invest in human resources and information systems to enhance operational capabilities and efficiency in foundation and drilling works[86] - The company’s short-term employee benefits amounted to HKD 1,042 million for the six months ended September 30, 2021, down from HKD 1,434 million in the same period of 2020[83] - The total employee costs for the six months ended September 30, 2021, reached approximately HKD 18.5 million, compared to HKD 17.2 million for the same period in 2020[116] - The group employed 80 full-time employees as of September 30, 2021, consistent with the previous year[116] Dividends and Shareholder Information - The group did not recommend an interim dividend for the six months ended September 30, 2021, consistent with the previous year[40] - The board does not recommend the payment of an interim dividend for the six months ended September 30, 2021[117] Market and Industry Outlook - The overall industry outlook remains challenging due to uncertainties caused by the COVID-19 pandemic, affecting the foundation industry negatively[86] Compliance and Governance - The audit committee reviewed the unaudited condensed consolidated financial statements for the six months ended September 30, 2021, and found them to comply with applicable accounting standards and GEM Listing Rules[139] - The board of directors includes executive directors and independent non-executive directors[143]

Financial Performance - The company reported a revenue of HKD 27,143,000 for the first quarter of 2021, compared to HKD 32,701,000 in the same period of 2020, representing a decrease of approximately 17%[8] - Gross profit for the first quarter of 2021 was HKD 3,327,000, an increase from HKD 2,679,000 in the previous year, indicating a growth of about 24%[8] - Operating profit decreased to HKD 367,000 in Q1 2021 from HKD 802,000 in Q1 2020, reflecting a decline of approximately 54%[8] - The company recorded a net profit attributable to owners of HKD 226,000 for the first quarter of 2021, down from HKD 334,000 in the same quarter of 2020, a decrease of around 32%[8] - Basic and diluted earnings per share were HKD 0.13 for Q1 2021, compared to HKD 0.56 in Q1 2020, representing a decline of approximately 77%[6] - The group recorded a net profit of approximately HKD 226,000 for the three months ended June 30, 2021, down from HKD 334,000 in the same period of 2020, reflecting a decline of 32.3%[33] - The group's earnings per share for the three months ended June 30, 2021, was HKD 0.13, down from HKD 0.56 in the same period of 2020[33] - The group recorded a profit attributable to owners of approximately HKD 0.2 million for the three months ended June 30, 2021, compared to HKD 0.3 million for the same period in 2020[48] Revenue and Expenses - The group's revenue for the three months ended June 30, 2021, was HKD 27,143,000, a decrease of 15.9% compared to HKD 32,182,000 in the same period of 2020[20] - The group's revenue for the three months ended June 30, 2021, was approximately HKD 27.1 million, a decrease of about 17.1% compared to HKD 32.7 million for the same period in 2020[42] - The cost of sales for the same period was approximately HKD 23.8 million, a decrease of about 20.6% from HKD 30.0 million in the previous year, primarily due to a reduction in the number of ongoing projects[43] - Administrative expenses rose to HKD 3,209,000 in Q1 2021 from HKD 2,650,000 in Q1 2020, marking an increase of about 21%[8] - Administrative expenses for the same period were approximately HKD 3.2 million, an increase of about 18.5% from HKD 2.7 million in the previous year, mainly due to rising automobile expenses, consulting fees, and employee costs[47] - The group incurred financing costs of HKD 251,000 for the three months ended June 30, 2021, down 37.8% from HKD 404,000 in the same period of 2020[28] Other Income and Comprehensive Income - Other comprehensive income for the period was HKD (249,000), compared to HKD (3,000) in the previous year, indicating a significant increase in losses[5] - The group recognized other income of HKD 249,000 in the three months ended June 30, 2021, compared to HKD 773,000 in the same period of 2020, indicating a decrease of 67.8%[24] Investments and Operational Focus - The company has invested significantly in machinery and equipment necessary for its drilling operations, indicating a focus on enhancing operational capabilities[13] - The group has invested significantly in machinery and equipment necessary for its drilling operations, indicating a focus on enhancing operational capabilities[40] - The company is engaged in foundation engineering and has a range of drilling pile installation capabilities, which may support future growth opportunities[13] Industry Outlook and Challenges - The overall outlook for the industry remains challenging due to ongoing COVID-19 impacts, including supply chain disruptions and labor shortages[41] Corporate Governance and Compliance - The financial statements are prepared in accordance with Hong Kong Financial Reporting Standards, ensuring compliance and transparency in financial reporting[15] - The audit committee reviewed the unaudited condensed consolidated financial statements for the three months ended June 30, 2021, and found them compliant with applicable accounting standards and GEM listing rules[74] - The company did not purchase, sell, or redeem any of its listed securities during the three months ended June 30, 2021[65] - There were no competitive or conflict of interest activities involving directors or major shareholders during the three months ended June 30, 2021[66] - The company has adopted trading rules for directors' securities transactions and confirmed compliance during the three months ended June 30, 2021[67] - No stock options were granted, exercised, expired, or lapsed during the three months ended June 30, 2021, and there are no unexercised stock options under the plan[71] Dividends - The group did not declare an interim dividend for the three months ended June 30, 2021, consistent with the previous year[32] - The board did not recommend the payment of an interim dividend for the three months ended June 30, 2021, compared to zero dividend for the same period in 2020[49] Rights Issue - The company announced a rights issue on January 25, 2021, to raise approximately HKD 28.35 million by issuing 135,000,000 shares at HKD 0.21 each[50] - The net proceeds from the rights issue, after estimated expenses, are expected to be approximately HKD 25 million, to be used for repaying overdue payables and bank loans[50] Customer Revenue - The group reported a significant decrease in revenue from major customers, with Customer 1 contributing HKD 8,862,000 in 2021 compared to HKD 18,556,000 in 2020, a drop of 52.3%[23]

Beaver Group (Holding) Company Limited 永勤集團(控股)有限公司 (於同曼群島註冊成立之有限公司) 股份代號： 8275 年報 2021 香港聯合交易所有限公司（「聯交所」）GEM的特色 GEM的定位，乃為中小型公司提供一個上市的市場，此等公司相比起其他在主板上市的公司帶有較高投資風險。有意 投資的人士應了解投資於該等公司的潛在風險，並應經過審慎周詳的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買賣的證券可能會較於主板買賣之證券承受較大的市場波動風險，同時 無法保證在GEM買賣的證券會有高流通量的市場。 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證券上市規則（「GEM上市規則」）而刊載，旨在提供有關永勤集團（控股）有限公司（「本 公司」連同其附屬公司稱為「本集團」）的資料；本公司的董事（「董事」）願就本報告的資料共同及個別地承擔全部責任。 各董事在作出一切合理查詢後，確認就 ...

Financial Performance - Revenue for the three months ended December 31, 2020, was HKD 33,101,000, an increase of 24.4% compared to HKD 26,548,000 for the same period in 2019[7]. - Gross profit for the nine months ended December 31, 2020, was HKD 9,309,000, up from HKD 8,929,000 in the same period of 2019, reflecting a growth of 4.3%[7]. - The company reported a loss attributable to owners of the company of HKD 378,000 for the three months ended December 31, 2020, compared to a loss of HKD 4,013,000 for the same period in 2019, indicating a significant improvement[7]. - The total comprehensive loss for the nine months ended December 31, 2020, was HKD 6,257,000, a decrease from HKD 6,260,000 in the same period of 2019[7]. - The company experienced a decrease in finance costs, reporting HKD 368,000 for the three months ended December 31, 2020, compared to HKD 600,000 in the same period of 2019[7]. - The company’s loss before tax for the three months ended December 31, 2020, was HKD 2,784,000, an improvement from HKD 3,991,000 in the same period of 2019[7]. - The group reported a total of HKD 90,575,000 in revenue for the nine months ended December 31, 2020, compared to HKD 74,698,000 in the same period of 2019, showing a year-on-year growth of approximately 21%[81]. - The group recorded a loss attributable to owners of approximately HKD 2.8 million for the nine months ended December 31, 2020, compared to a loss of approximately HKD 6.3 million for the same period in 2019[186]. Revenue Breakdown - Total revenue for the nine months ended December 31, 2020, was HKD 90,575,000, an increase from HKD 74,698,000 in the same period of 2019, representing a growth of approximately 21%[81]. - Construction contract revenue for the three months ended December 31, 2020, was HKD 32,316,000, compared to HKD 26,448,000 in the same period of 2019, reflecting a growth of about 22%[80]. - The total revenue from Hong Kong for the nine months ended December 31, 2020, was HKD 88,458,000, up from HKD 72,591,000 in the same period of 2019, marking an increase of around 22%[81]. - The group’s construction contract income for the nine months ended December 31, 2020, was HKD 88,458,000, compared to HKD 64,137,000 in the same period of 2019, representing a growth of approximately 38%[81]. - Machinery leasing revenue for the nine months ended December 31, 2020, was HKD 2,117,000, a significant increase from HKD 10,561,000 in the same period of 2019, indicating a recovery trend[81]. - The group’s machinery leasing income for the three months ended December 31, 2020, was HKD 785,000, compared to HKD 100,000 in the same period of 2019, indicating a substantial increase[80]. Expenses and Costs - The company’s administrative expenses for the three months ended December 31, 2020, were HKD 3,726,000, slightly down from HKD 3,842,000 in the same period of 2019[7]. - Administrative expenses for the nine months ended December 31, 2020, were approximately HKD 11.4 million, an increase of about 8.4% from HKD 10.5 million in the same period of 2019[192]. - The cost of sales for the nine months ended December 31, 2020, was approximately HKD 81.3 million, up about 23.6% from HKD 65.8 million in the same period of 2019[189]. - The gross profit for the nine months ended December 31, 2020, was approximately HKD 9.3 million, an increase of about 4.3% from HKD 8.9 million in the same period of 2019, with a gross margin decrease from approximately 12.0% to 10.3%[191]. Government Support - The group received approximately HKD 3,952,000 in funding support from the Hong Kong government's anti-epidemic fund to retain employees during the subsidy period[167]. Strategic Focus - The company plans to focus on project selection and cost control in response to the challenging industry outlook due to COVID-19[187]. - The group aims to enhance its operational capabilities and efficiency in foundation and site leveling works through investments in human resources and information systems[187]. - The group will continue to seek additional qualifications and enrich its financial resources to bid for suitable projects as a foundation contractor[187]. Shareholder Information - As of December 31, 2020, Mr. Tang Gui Liang held 187,000,000 shares, representing approximately 20.78% of the company's ordinary shares[196]. - As of December 31, 2020, Mr. Xu Guan You held 183,000,000 shares, representing approximately 20.33% of the company's ordinary shares[196]. - Mr. Tang is the sole director of C3J Development Limited, which he legally owns entirely[197]. - Mr. Xu is the sole director of Heng Tai Enterprises Limited, which he legally owns entirely[198]. - The company has disclosed the interests and short positions of its directors and key executives in accordance with the Securities and Futures Ordinance[196]. Dividends - The company did not recommend any dividend for the nine months ended December 31, 2020, consistent with no dividend for the same period in 2019[181]. - The board of directors did not recommend the payment of dividends for the nine months ended December 31, 2020, consistent with the previous year[194]. Other Information - The group has adopted all new and revised Hong Kong Financial Reporting Standards effective from April 1, 2020, with no significant impact on the financial statements[79]. - The company has no new product or technology developments mentioned in the provided documents[195]. - There are no specific future outlooks or performance guidance provided in the documents[195]. - No market expansion or acquisition strategies were detailed in the provided content[195].