Financial Performance - Revenue for the three months ended September 30, 2020, was HKD 24,773,000, representing an increase of 10.1% compared to HKD 22,502,000 for the same period in 2019[6] - Gross profit for the six months ended September 30, 2020, was HKD 8,034,000, up from HKD 7,637,000 in the same period of 2019, indicating a growth of 5.2%[6] - The company reported a net loss attributable to owners of HKD 2,744,000 for the three months ended September 30, 2020, compared to a loss of HKD 2,576,000 in the same period of 2019, reflecting an increase in losses of 6.5%[6] - Basic and diluted loss per share for the three months ended September 30, 2020, was HKD 0.46, compared to HKD 0.43 for the same period in 2019[6] - Total revenue for the six months ended September 30, 2020, was HKD 56,142,000, an increase of 49.0% compared to HKD 37,689,000 for the same period in 2019[19] - The group reported a total comprehensive loss of HKD 2,410,000 for the six months ended September 30, 2020, compared to a loss of HKD 2,247,000 in the same period last year[10] - The group recorded a net loss of approximately HKD 2.4 million for the six months ended September 30, 2020, compared to a net loss of approximately HKD 2.2 million for the same period in 2019[128] Assets and Liabilities - Total assets as of September 30, 2020, amounted to HKD 71,520,000, while total liabilities were HKD 11,317,000, resulting in a net asset value of HKD 60,203,000[8] - Non-current assets totaled HKD 65,272,000 as of September 30, 2020, with property, plant, and equipment accounting for HKD 48,519,000[8] - The company reported a total current asset of HKD 76,356,000, which includes cash and cash equivalents of HKD 6,424,000[8] - The group's total assets as of September 30, 2020, were reported at HKD 51,898 million[69] - As of September 30, 2020, the group had total liabilities of approximately HKD 44.0 million, down from approximately HKD 47.5 million as of March 31, 2020[134] - The group's debt-to-equity ratio as of September 30, 2020, was approximately 73.1%, a decrease from about 75.9% as of March 31, 2020[134] Cash Flow - Cash and cash equivalents at the end of the period were HKD 6,424,000, down from HKD 12,817,000 at the end of the same period in 2019[11] - Net cash generated from operating activities was HKD 6,937,000, compared to a net cash used of HKD 8,729,000 in the same period last year[11] - The group incurred a net cash outflow from investing activities of HKD 1,754,000, significantly reduced from HKD 14,253,000 in the previous year[11] - The group raised bank and other borrowings amounting to HKD 3,601,000, down from HKD 32,277,000 in the previous year[11] Expenses - The company’s administrative expenses increased to HKD 4,987,000 for the three months ended September 30, 2020, compared to HKD 3,373,000 in the same period of 2019, marking a rise of 47.8%[6] - Short-term employee benefits for management decreased to HKD 1,434,000 for the six months ended September 30, 2020, down from HKD 1,732,000 in the previous year, a reduction of approximately 17.3%[121] - Administrative expenses for the same period were approximately HKD 7.6 million, an increase of about 15.2% from approximately HKD 6.6 million in 2019, primarily due to consulting and legal fees[127] Shareholder Information - The group has a total issued share capital of HKD 10,000,000, with 1,000,000,000 shares authorized at a par value of HKD 0.01 each[118] - The group plans to conduct a rights issue, offering one new share for every two existing shares held, with the completion date on October 23, 2020[121] - The group completed a rights issue on October 23, 2020, issuing 300,000,000 shares at a subscription price of HKD 0.027 per share, raising approximately HKD 7 million for loan repayment and settling debts to suppliers[131] Market and Operational Outlook - The company is focused on expanding its market presence and enhancing its product offerings through ongoing research and development initiatives[5] - The overall outlook for the industry remains challenging due to uncertainties caused by the COVID-19 pandemic, impacting the foundation industry with supply chain disruptions and labor shortages[128] Governance and Compliance - The audit committee reviewed the unaudited consolidated financial statements for the six months ending September 30, 2020, confirming compliance with applicable accounting standards and GEM listing rules[174] - The board of directors includes executive directors and independent non-executive directors, ensuring a diverse governance structure[178] Employee Information - The company had 80 full-time employees as of September 30, 2020, an increase from 72 employees as of September 30, 2019[140] - As of September 30, 2020, the total employee cost for the six months ended was approximately HKD 17.2 million, compared to HKD 14.8 million for the same period in 2019, reflecting an increase of about 16.2%[140]

Financial Performance - Total revenue for the first quarter ended June 30, 2020, was HKD 32,701,000, compared to HKD 25,648,000 for the same period in 2019, representing a year-over-year increase of 27.5%[11] - Construction contract revenue accounted for HKD 32,182,000, up from HKD 20,308,000 in the previous year, indicating a significant growth in this segment[25] - Gross profit for the quarter was HKD 2,679,000, down from HKD 4,198,000 in the prior year, reflecting a decrease of 36.2%[11] - Operating profit for the quarter was HKD 802,000, compared to HKD 948,000 in the same quarter of 2019, a decline of 15.4%[11] - Profit attributable to owners of the company was HKD 334,000, slightly up from HKD 332,000 in the previous year, showing a marginal increase[11] - Basic and diluted earnings per share remained stable at HKD 0.06 for both 2020 and 2019[9] - The group recorded a profit of approximately HKD 0.3 million for the three months ended June 30, 2020, consistent with the profit of approximately HKD 0.3 million for the same period in 2019[57] Cost and Expenses - The cost of sales for the three months ended June 30, 2020, was approximately HKD 30.0 million, a 40.0% increase from approximately HKD 21.5 million for the same period in 2019, mainly due to increased construction material and subcontractor costs from more awarded projects[60] - Administrative expenses decreased to HKD 2,650,000 from HKD 3,264,000, a reduction of 18.8%[11] - Administrative expenses for the three months ended June 30, 2020, were approximately HKD 2.7 million, down about 18.8% from approximately HKD 3.3 million for the same period in 2019, mainly due to reduced employee costs[63] - Financing costs decreased to HKD 404,000 from HKD 473,000, indicating a reduction of 14.6%[11] - The group’s financing costs for the three months ended June 30, 2020, totaled HKD 404,000, down from HKD 473,000 in the same period of 2019[32] - The group’s tax expense for the three months ended June 30, 2020, was HKD 64,000, compared to HKD 143,000 for the same period in 2019[33] Government Support - The group received government subsidies of HKD 764,000 during the three months ended June 30, 2020, as part of the employment support scheme[29] Operational Strategy - The company has invested significantly in machinery and equipment necessary for drilling operations, enhancing its operational capacity[19] - The group plans to maintain prudent financial management in project selection and cost control due to the challenging business environment caused by COVID-19[58] - The group aims to enhance its operational capabilities and efficiency in foundation and site leveling works through investments in human resources and information systems[58] - The group has identified a single operating segment based on its overall performance evaluation, focusing on foundation engineering and related services in Hong Kong and Macau[26] Dividends and Shareholder Information - The group has no proposed interim dividend for the three months ended June 30, 2020, consistent with the previous year[50] - The board did not recommend the payment of an interim dividend for the three months ended June 30, 2020, compared to zero for the same period in 2019[65] - Major shareholders include C3J Development with 187 million shares (31.17%) and Heng Tai Enterprises with 183 million shares (30.50%) as of June 30, 2020[81] Corporate Governance - The company has adhered to the corporate governance code as per GEM listing rules during the reporting period[94] - The company’s board of directors confirmed compliance with trading regulations for securities transactions as of June 30, 2020[89] - The company has committed to good corporate governance as a key element in managing its business and affairs[94] - The audit committee, established on September 22, 2017, reviewed the unaudited condensed consolidated financial statements for the three months ending June 30, 2020, ensuring compliance with applicable accounting standards[96] - The company’s audit committee includes at least one independent non-executive director with appropriate professional qualifications or accounting expertise[96] Competition and Securities - No purchases, sales, or redemptions of the company's listed securities were made by the company or any of its subsidiaries during the three months ended June 30, 2020[85] - There were no reported business activities that directly or indirectly compete with the group's business by directors, controlling shareholders, or major shareholders during the same period[86] - The company has established a non-competition agreement to prevent competition with its controlling shareholders, effective since September 22, 2017[87] - The company’s stock option plan, effective from September 22, 2017, allows for a maximum of 10% of issued shares to be granted as unexercised options at any time[91] - No stock options were granted, exercised, expired, or lapsed during the three months ending June 30, 2020[93] - The stock option exercise price 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 previous five trading days[92] - The company will notify the promoters within six months regarding the exercise of the right of first refusal for any competitive business opportunities[88]

Beaver Group (Holding) Company Limited 永勤集團(控股)有限公司 (於開曼群島註冊成立之有限公司) 股份代號： 8275 P 2020 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・此等公司相比超其他在聯交所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 J)而刊載·旨在提供有陽永勤集團(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 ...

Financial Performance - For the three months ended December 31, 2019, the company reported revenue of HKD 26,548,000, a decrease of 36.1% compared to HKD 41,573,000 for the same period in 2018[5] - The gross profit for the same period was HKD 739,000, down 84.8% from HKD 4,856,000 in the prior year[5] - The company incurred an operating loss of HKD 3,391,000 for the three months ended December 31, 2019, compared to an operating profit of HKD 494,000 in the same period of 2018[5] - The net loss attributable to owners of the company for the three months was HKD 4,013,000, compared to a profit of HKD 52,000 in the prior year[5] - The company reported total comprehensive loss of HKD 4,016,000 for the three months ended December 31, 2019, compared to total comprehensive income of HKD 114,000 in the same period of 2018[5] - For the nine months ended December 31, 2019, total revenue was HKD 74,698,000, a decrease of 39.5% from HKD 123,833,000 in the same period of 2018[5] - The company recorded a net loss of approximately HKD 6.3 million for the nine months ended December 31, 2019, compared to a profit of approximately HKD 3.9 million for the same period in 2018, representing a significant decline in performance[88] - Revenue for the nine months ended December 31, 2019, was approximately HKD 74.7 million, a decrease of about 39.7% from approximately HKD 123.8 million for the same period in 2018[90] - The cost of sales for the nine months ended December 31, 2019, was approximately HKD 65.8 million, down about 38.8% from approximately HKD 107.5 million for the same period in 2018[91] - Gross profit for the nine months ended December 31, 2019, was approximately HKD 8.9 million, a decrease of about 45.4% from approximately HKD 16.3 million for the same period in 2018, with a gross margin decline from 13.2% to 12.0%[93] Revenue Sources - The group reported construction contract revenue of HKD 26,448 thousand for the three months ended December 31, 2019, down from HKD 37,729 thousand in the same period of 2018, representing a decrease of approximately 29.9%[66] - Rental income from machinery was HKD 100 thousand for the three months ended December 31, 2019, significantly lower than HKD 3,844 thousand in the same period of 2018, indicating a decline of about 97.4%[66] - Revenue from Hong Kong for the nine months ended December 31, 2019, was HKD 72,591 thousand, down from HKD 119,370 thousand in the same period of 2018, a decline of about 39.2%[72] Financial Costs and Impairments - The company’s financial costs increased to HKD 600,000 for the three months ended December 31, 2019, from HKD 344,000 in the same period of 2018[5] - The company reported a net impairment loss on financial assets of HKD 1,142,000 for the three months ended December 31, 2019, compared to HKD 433,000 in the same period of 2018[5] - Financing costs for the three months ended December 31, 2019, included interest on bank and other borrowings amounting to HKD 564 thousand, an increase from HKD 331 thousand in the same period of 2018[75] Business Strategy and Future Outlook - The company aims to enhance its market presence and explore new business strategies to improve financial performance moving forward[5] - The company aims to diversify its revenue sources and seek more profitable foundation engineering projects, indicating a cautious optimism about future business prospects[88] - The company plans to actively seek potential business opportunities to expand revenue sources and enhance shareholder value, including machinery leasing to improve utilization rates[89] - The company’s financial resources from the share issuance will support its business opportunities and strategies, further strengthening its market position in foundation engineering[89] Accounting Standards and Compliance - The group has adopted all new and revised Hong Kong Financial Reporting Standards effective from April 1, 2019, with no early adoption of other standards[54] - The group has recognized right-of-use assets and lease liabilities for most leases under Hong Kong Financial Reporting Standard 16, replacing the previous classification of operating and finance leases[58] - The initial measurement of lease liabilities is based on the present value of future lease payments discounted at the incremental borrowing rate of the group[59] - The group has chosen not to recognize right-of-use assets and lease liabilities for certain low-value asset leases, expensing lease payments on a straight-line basis over the lease term[58] - The transition to Hong Kong Financial Reporting Standard 16 involved measuring lease liabilities at the present value of remaining lease payments, discounted at the group's incremental borrowing rate as of April 1, 2019[61] - The group has applied practical expedients for leases classified as operating leases under the previous standard, including exemptions for leases with terms of less than 12 months[61] - The group has confirmed that the accounting policies adopted for the preparation of the unaudited consolidated financial statements are consistent with those used in the previous financial year[54] - The unaudited consolidated financial statements have been reviewed by the audit committee but not audited by the company's auditors[52] - The financial statements are presented in Hong Kong dollars, which is the functional currency of the company and its subsidiaries[54] - The group has not identified any significant impact from the adoption of other new standards effective from April 1, 2019[54] Shareholder Information - C3J Development holds 187,000,000 shares, representing 31.17% of the company, while Heng Tai Enterprises holds 183,000,000 shares, representing 30.50%[100] - No purchases, sales, or redemptions of the company's listed securities were made by the company or its subsidiaries for the nine months ended December 31, 2019[103] - There were no competitive activities or conflicts of interest reported by directors, controlling shareholders, or major shareholders during the nine months ended December 31, 2019[104] - The company has adopted trading regulations as per GEM Listing Rules for directors' securities transactions, and all directors confirmed compliance for the nine months ended December 31, 2019[108] - The stock option plan was established on September 22, 2017, and is valid for ten years, with no options granted, exercised, expired, or lapsed as of December 31, 2019[109] - The compliance advisor confirmed that there are no interests or equity held by the compliance advisor or its associates that need to be disclosed under GEM Listing Rules[110] - The audit committee, established on September 22, 2017, reviewed the unaudited consolidated financial statements for the nine months ended December 31, 2019, ensuring compliance with applicable accounting standards and GEM Listing Rules[113]

Financial Performance - For the six months ended September 30, 2019, the company reported revenue of HKD 48,150,000, a decrease from HKD 82,260,000 in the same period of 2018, representing a decline of approximately 41.4%[8] - The gross profit for the six months ended September 30, 2019, was HKD 8,190,000, down from HKD 11,459,000 in 2018, indicating a decrease of about 28.5%[8] - The company experienced a loss before tax of HKD 2,065,000 for the six months ended September 30, 2019, compared to a profit of HKD 4,535,000 in the same period of 2018[8] - The company reported a basic and diluted loss per share of HKD 0.37 for the six months ended September 30, 2019, compared to earnings of HKD 0.64 per share in the same period of 2018[8] - Total revenue for the six months ended September 30, 2019, was HKD 48,150,000, a decrease from HKD 77,797,000 in the same period of 2018, representing a decline of approximately 38.2%[41] - The company reported a total revenue of HKD 30,122,000 for the six months ended September 30, 2019, down from HKD 36,182,000 in the same period last year, representing a decrease of approximately 16.5%[13] - The company reported a net loss of approximately HKD 2.6 million for the six months ended September 30, 2019, compared to a net profit of approximately HKD 3.8 million for the same period in 2018[82] Assets and Liabilities - The net asset value as of September 30, 2019, was HKD 72,976,000, a decrease from HKD 75,223,000 as of March 31, 2019, reflecting a decline of approximately 2.9%[10] - Total non-current assets amounted to HKD 74,453,000 as of September 30, 2019, compared to HKD 60,489,000 as of March 31, 2019, showing an increase of approximately 22.9%[10] - Current assets increased to HKD 91,248,000 as of September 30, 2019, from HKD 85,465,000 as of March 31, 2019, representing a growth of about 6.5%[10] - The company’s total liabilities increased to HKD 78,504,000 as of September 30, 2019, compared to HKD 62,942,000 as of March 31, 2019, indicating an increase of approximately 25.5%[10] - The company’s total assets as of September 30, 2019, were reported at HKD 40,026,000, compared to HKD 36,182,000 as of the previous year, indicating an increase of approximately 10.5%[13] - The group’s total liabilities amounted to approximately HKD 57.5 million as of September 30, 2019, an increase from approximately HKD 28.4 million as of March 31, 2019[101] Cash Flow - Cash flow from operating activities for the six months ended September 30, 2019, was a net outflow of HKD 8,729,000, compared to a net inflow of HKD 1,282,000 in the same period last year[15] - Cash flow from financing activities for the six months ended September 30, 2019, was a net inflow of HKD 20,552,000, an increase from HKD 7,018,000 in the previous year[15] - The company incurred a net cash outflow from investing activities of HKD 14,253,000 for the six months ended September 30, 2019, compared to HKD 12,025,000 in the same period last year[15] - The company’s cash and cash equivalents at the end of the period were HKD 12,817,000, a decrease from HKD 13,393,000 at the end of the previous year[15] Revenue Sources - For the six months ended September 30, 2019, the company reported construction contract revenue of HKD 37,689,000, a decrease of 47.5% compared to HKD 71,861,000 for the same period in 2018[35] - The company generated machinery rental income of HKD 10,461,000 for the six months ended September 30, 2019, representing an increase of 36.4% from HKD 7,680,000 in the same period of 2018[35] - Total customer contract revenue for the six months ended September 30, 2019, was HKD 48,150,000, down 41.4% from HKD 82,260,000 in the previous year[35] - The group’s revenue from construction contracts for the six months ended September 30, 2019, was HKD 37,689,000, compared to HKD 67,398,000 in the same period of 2018, representing a decline of approximately 44.0%[41] - The group’s revenue from ancillary services for the six months ended September 30, 2019, was HKD 10,461,000, down from HKD 48,150,000 in the same period of 2018, reflecting a decrease of approximately 78.2%[41] Shareholder Information - The company did not recommend any interim dividend for the six months ended September 30, 2019, consistent with the previous year[49] - The group recorded a loss attributable to the owners of approximately HKD 2.2 million for the six months ended September 30, 2019, compared to a profit of approximately HKD 3.8 million for the same period in 2018[89] - C3J Development holds a beneficial interest in 187,000,000 shares, representing approximately 31.17% of the company's ordinary shares[115] - Heng Tai Enterprises holds a beneficial interest in 183,000,000 shares, representing approximately 30.50% of the company's ordinary shares[117] Operational Changes - The company adopted the new Hong Kong Financial Reporting Standard 16 on leases, which has impacted the accounting treatment of lease liabilities and right-of-use assets[22] - The company has chosen not to recognize right-of-use assets and lease liabilities for certain low-value asset leases, instead recognizing lease payments as expenses on a straight-line basis[26] - The company has classified its leases as operating leases under HKFRS 16, with no adjustments required for its role as a lessor[31] - The company has applied practical expedients for leases with a term of less than 12 months, opting not to recognize right-of-use assets and liabilities[33] - The company entered into a new six-year lease for warehouse space, recognizing a right-of-use asset and lease liability of approximately HKD 8,741,000 at the lease commencement date[54] Employee Information - The group employed 72 full-time employees in Hong Kong as of September 30, 2019, down from 95 employees a year earlier, with total employee costs amounting to approximately HKD 14.8 million for the six months ended September 30, 2019, compared to HKD 18.2 million for the same period in 2018[112] Compliance and Governance - The audit committee reviewed the unaudited condensed consolidated financial statements for the six months ended September 30, 2019, ensuring compliance with applicable accounting standards and GEM Listing Rules[131] - The company has adopted the GEM Listing Rules regarding securities trading for directors, confirming compliance for the six months ended September 30, 2019[126] Future Outlook - The company aims to diversify its revenue sources and seek more profitable foundation engineering projects, supported by the net proceeds from the share placement[82] - The company is actively looking for potential business opportunities to expand revenue sources and enhance shareholder value, including machinery leasing to improve utilization[83] - The company has not provided any future performance guidance or outlook in the available information[123]

BEAVER GROUP (HOLDING) COMPANY LIMITED 永勤集團(控股)有限公司 BEAVER GROUP (HOLDING) COMPANY LIMITED 永勤集團(控股)有限公司 (Incorporated in the Cayman Islands with limited liability) Stock Code: 8275 （於開曼群島註冊成立之有限公司） 股份代號︰8275 2019 FIRST QUARTERLY REPORT 2019 第一季度業績報告 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 | --- | --- | |-------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

Financial Performance - For the fiscal year ending March 31, 2019, the company recorded a net loss of approximately HKD 2.4 million, compared to a net loss of approximately HKD 14.5 million in the previous year[21]. - The net loss was primarily due to a financial asset impairment provision of approximately HKD 4.4 million; excluding this provision, the company would have reported a net profit of approximately HKD 2.0 million[21]. - The group's revenue for the year ended March 31, 2019, was approximately HKD 152.5 million, an increase of about 24.0% compared to approximately HKD 123.0 million for the year ended March 31, 2018[30]. - The cost of sales for the year ended March 31, 2019, was approximately HKD 138.7 million, an increase of about 18.6% from approximately HKD 116.9 million for the previous year[31]. - The gross profit for the year ended March 31, 2019, was approximately HKD 13.8 million, a significant increase of about 126.2% from approximately HKD 6.1 million in the previous year, with a gross margin rising from about 4.9% to 9.0%[33]. - Administrative expenses for the year ended March 31, 2019, were approximately HKD 14.2 million, a decrease of about 43.9% from approximately HKD 25.3 million in the previous year[35]. - The group recorded a loss attributable to owners of approximately HKD 2.4 million for the year ended March 31, 2019, compared to a loss of approximately HKD 14.5 million in the previous year[36]. Business Strategy and Operations - The company aims to diversify its revenue sources by seeking more profitable foundation engineering, renovation, and machinery rental projects[18]. - The company is focused on improving operational efficiency and profitability, actively seeking potential business opportunities to expand revenue streams and enhance shareholder returns[22]. - The company remains cautiously optimistic about its business prospects despite facing challenges such as rising construction and labor costs, slow approval processes for infrastructure financing, and market oversupply[17]. - The company has invested significantly in machinery and possesses all standard equipment required for drilling pile construction[21]. - The net proceeds from the company's listing provide financial resources to pursue business opportunities and strategies, further enhancing its market position in foundation engineering and drilling pile projects[22]. - The company plans to implement tighter cost controls to improve business profitability in response to future challenges[17]. - The company is committed to increasing its market operational efficiency to counteract the competitive pressures in the foundation industry[17]. - The company anticipates an increase in demand for small diameter pre-drilled piles due to recent contracts awarded and trends in private development projects[57]. Human Resources - The total employee cost, including directors' remuneration and mandatory provident fund contributions, was approximately HKD 33.3 million, an increase from HKD 28.8 million in 2018[51]. - The company has successfully recruited additional personnel, including 1 site manager, 1 quantity surveyor, 1 client manager, 2 site engineers, and 2 assistant engineers to support business growth[58]. Corporate Governance - The company has maintained high levels of corporate governance, which is crucial for gaining and maintaining shareholder trust[85]. - The board of directors includes three independent non-executive directors, exceeding the GEM listing rules requirement of at least one-third[92]. - The company has adopted the GEM listing rules regarding securities trading by directors, confirming compliance with no non-compliance incidents during the year[87]. - The company’s management is responsible for daily operations and reports regularly to the board on their work and business decisions[91]. - The company has purchased liability insurance for its directors and senior management to protect against potential legal liabilities[89]. - The company’s independent non-executive directors have confirmed their independence annually, in line with GEM listing rules[93]. - The company’s executive directors and independent non-executive directors have service contracts with an initial term of three years[95]. - The chairman of the board, Mr. Tang, is responsible for managing the board and presiding over meetings[96]. - The company has complied with all applicable corporate governance code provisions as of March 31, 2019[86]. - The company is committed to enhancing shareholder value through effective corporate governance practices[86]. - The Remuneration Committee reviewed the compensation of directors and senior management, deeming it fair and reasonable for the year ending March 31, 2019[101]. - The Audit Committee held four meetings during the year to review the company's financial performance and internal control systems[104]. Risk Management and Internal Control - The company maintains an effective internal control and risk management system to safeguard shareholder investments and group assets[134]. - The risk management process includes identifying major risks, assessing their potential impact, and planning effective mitigation activities[135]. - The board reviews the effectiveness of the risk management and internal control systems at least annually[134]. - The audit committee has reviewed the internal control system and considers it effective and sufficient[140]. Environmental, Social, and Governance (ESG) Initiatives - The company is committed to sustainable development and integrates environmental, social, and governance (ESG) initiatives into its business strategy[146]. - An ESG task force has been established to collect relevant data and report on the company's performance in these areas[147]. - The board sets the overall policy for the company's ESG strategy and ensures the effectiveness of risk control mechanisms[147]. - The group has established effective management policies and internal control systems regarding environmental, social, and governance (ESG) matters as of the fiscal year ending March 31, 2019[159]. - The group reported no significant violations of environmental laws and regulations during the fiscal year, including the Air Pollution Control Ordinance and Waste Disposal Ordinance in Hong Kong[162]. - The group actively implements measures to reduce emissions, including dust control methods at construction sites and covering loads before leaving the site[163]. - The group emphasizes energy-saving measures and has adopted various initiatives to reduce resource consumption and emissions[163]. - Stakeholder engagement is prioritized, with communication channels established to address concerns from employees, investors, customers, suppliers, and government agencies[155]. - The group recognizes the importance of stakeholder expectations in formulating operational strategies and ESG measures[155]. Environmental Performance Metrics - Total greenhouse gas emissions decreased from 3,440.45 tons CO2 equivalent in FY2018 to 2,868.01 tons CO2 equivalent in FY2019, a reduction of 572.44 tons or 16.64%[168]. - The density of total greenhouse gas emissions per employee improved from 53.76 tons CO2 equivalent/employee in FY2018 to 43.45 tons CO2 equivalent/employee in FY2019[168]. - Solid waste generated decreased from 21,032 tons in FY2018 to 12,941.80 tons in FY2019, a reduction of 8,090.20 tons or 38.47%[175]. - Wastewater generated decreased from 54,139 tons in FY2018 to 35,770 tons in FY2019, a reduction of 18,369 tons or 33.93%[180]. - The company has implemented various measures to reduce paper usage and promote recycling among employees[177]. - The company has established guidelines for the management and disposal of hazardous waste, although no hazardous waste was generated in FY2019[169]. - The company emphasizes waste reduction, reuse, and recycling in its environmental procedures[170]. - The company has taken steps to ensure wastewater treatment complies with the Water Pollution Control Ordinance (WPCO) before discharge[178]. - In the fiscal year 2019, gasoline consumption decreased by 2,453 liters or 3.80% to 62,097 liters from 64,550 liters in 2018[192]. - Diesel consumption reduced by 162,115 liters or 13.65% to 1,025,225 liters in 2019 from 1,187,340 liters in 2018[192]. - Acetylene consumption significantly decreased by 12.61 tons or 72.06% to 4.89 tons in 2019 from 17.5 tons in 2018 due to a reduction in welding projects[192]. - Total water consumption decreased by 15,496.40 cubic meters or 24.65% to 47,374.60 cubic meters in 2019 from 62,871 cubic meters in 2018[197]. - The energy consumption density for electricity was 125.30 kWh per employee in 2019, up from 117.42 kWh per employee in 2018[189]. - Gasoline density per employee was 940.86 liters in 2019, down from 1,008.59 liters in 2018[189]. - Diesel density per employee decreased to 15,533.71 liters in 2019 from 18,552.19 liters in 2018[189]. - The company implemented various energy-saving measures, including the use of energy-efficient LED lights and encouraging employees to utilize natural light[188]. - The company has adopted a policy to encourage employees to use public transportation to reduce carbon emissions[186]. - The company has been actively promoting water conservation practices across all operational sites[193].

Financial Performance - For the three months ended December 31, 2018, the company reported revenue of HKD 41,573,000, an increase from HKD 36,717,000 in the same period of 2017, representing a growth of approximately 13.5%[4] - The gross profit for the same period was HKD 4,856,000, compared to HKD 2,304,000 in 2017, indicating a significant increase of approximately 111.5%[4] - The operating profit for the three months ended December 31, 2018, was HKD 494,000, a recovery from an operating loss of HKD 7,431,000 in the same period of the previous year[4] - The net profit attributable to owners of the company for the three months was HKD 52, compared to a loss of HKD 7,365,000 in the same period of 2017, marking a turnaround[4] - For the nine months ended December 31, 2018, total revenue reached HKD 123,833,000, up from HKD 107,518,000 in the same period of 2017, reflecting a growth of approximately 15.1%[4] - The company reported a basic and diluted earnings per share of HKD 0.01 for the three months ended December 31, 2018, compared to a loss per share of HKD 1.28 in the same period of 2017[4] - The total comprehensive income for the three months was HKD 114,000, a recovery from a comprehensive loss of HKD 7,193,000 in the same period of 2017[4] - The company recorded a net profit of approximately HKD 3.9 million for the nine months ended December 31, 2018, compared to a net loss of approximately HKD 6.3 million for the same period in 2017[66] - The adjusted net profit for the nine months ended December 31, 2017, was approximately HKD 4.0 million after deducting listing expenses of about HKD 10.3 million[66] Revenue Sources and Business Strategy - The company has been focusing on expanding its foundation engineering and machinery leasing services, which contributed to the improved financial performance[10] - The company aims to diversify its revenue sources and seek more profitable foundation engineering projects, including new projects in Happy Valley, Tai Kok Tsui, and Kowloon Bay[66] - The company is actively seeking potential business opportunities to expand revenue sources and enhance shareholder value, such as leasing machinery to improve utilization rates[67] - The group’s revenue from machinery rental for the nine months ended December 31, 2018, was HKD 11,524,000, compared to no revenue in the same period of 2017[45] Accounting Standards and Financial Reporting - The group adopted all new and revised Hong Kong Financial Reporting Standards effective from April 1, 2018, including HKFRS 9 "Financial Instruments" and HKFRS 15 "Revenue from Contracts with Customers" without significant impact on the unaudited condensed consolidated financial statements[15] - HKFRS 9 replaces HKAS 39 regarding the recognition, classification, measurement, and impairment of financial assets and liabilities, leading to changes in accounting policies and adjustments to amounts recognized in financial statements[16] - The expected credit loss model under HKFRS 9 requires continuous measurement of credit risk, resulting in earlier recognition of expected credit losses compared to the incurred loss model of HKAS 39[19] - The group applies the expected credit loss model to financial assets measured at amortized cost, including contract assets as defined by HKFRS 15[20] - The group recognized contract assets amounting to HKD 18,585,000 as a result of the application of HKFRS 15[43] - The total amount of receivables from construction contracts was HKD 24,525,000, with a decrease of HKD 18,585,000 due to the new accounting standard[43] - The adoption of HKFRS 15 resulted in an adjustment of retained earnings amounting to HKD 4,771,000 as of April 1, 2018[43] Operational Efficiency and Cost Management - The cost of sales for the nine months ended December 31, 2018, was approximately HKD 107.5 million, representing a growth of about 35.6% from HKD 79.3 million in the previous year[68] - The gross profit for the nine months ended December 31, 2018, was approximately HKD 16.3 million, an increase of about 14.8% from HKD 14.2 million in the same period of 2017[70] - The gross profit margin decreased from approximately 15.2% to 13.2% due to unexpected construction cost overruns[70] - Administrative expenses for the nine months ended December 31, 2018, were approximately HKD 10.4 million, a decrease of about 47.7% from HKD 19.9 million in the previous year[70] Corporate Governance and Compliance - The company has established a non-competition agreement to prevent competition with its controlling shareholders, effective since September 22, 2017[81] - The company has adopted trading rules for directors in compliance with GEM Listing Rules, confirming all directors have adhered to these rules as of December 31, 2018[84] - The audit committee, established on September 22, 2017, has reviewed the unaudited condensed consolidated financial statements for the nine months ended December 31, 2018, ensuring compliance with applicable accounting standards and GEM Listing Rules[90] - The company has complied with all applicable code provisions of the corporate governance code as of December 31, 2018[87] Shareholder Returns - The company has not proposed any dividends for the nine months ended December 31, 2018, consistent with the same period in 2017[55] - The board did not recommend the payment of dividends for the nine months ended December 31, 2018, consistent with the previous year[71] - The company’s weighted average number of ordinary shares in issue was 600,000,000 for the nine months ended December 31, 2018[58] - No stock options were granted, exercised, expired, or lapsed under the stock option plan as of December 31, 2018[85]