[Financial Highlights](index=3&type=section&id=Financial%20Highlights) [Unaudited Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=3&type=section&id=Unaudited%20Condensed%20Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) The Group reported a 3.3% revenue increase to HKD 151 million, yet gross profit fell 21.4% to HKD 15.33 million, and profit attributable to owners of the Company decreased 51.5% to HKD 4.07 million Summary of Consolidated Statement of Profit or Loss for Q1 2021 | Indicator | 2021 Q1 (HKD thousands) | 2020 Q1 (HKD thousands) | Year-on-Year Change | | :--- | :--- | :--- | :--- | | Revenue | 151,108 | 146,335 | +3.3% | | Gross Profit | 15,331 | 19,497 | -21.4% | | Profit Before Tax | 4,640 | 9,422 | -50.8% | | Profit Attributable to Owners of the Company | 4,066 | 8,391 | -51.5% | | Basic Earnings Per Share (HK cents) | 0.68 | 1.40 | -51.4% | [Unaudited Condensed Consolidated Statement of Changes in Equity](index=4&type=section&id=Unaudited%20Condensed%20Consolidated%20Statement%20of%20Changes%20in%20Equity) Total equity attributable to owners of the Company increased from HKD 101.5 million to HKD 105.6 million as of June 30, 2021, driven by the HKD 4.07 million profit for the period Summary of Changes in Equity | Item | As of June 30, 2021 (HKD thousands) | As of June 30, 2020 (HKD thousands) | | :--- | :--- | :--- | | Total Equity at Beginning of Period | 101,507 | 72,892 | | Profit for the Period | 4,066 | 8,391 | | Total Equity at End of Period | 105,573 | 81,283 | [Notes to the Unaudited Condensed Consolidated Financial Statements](index=5&type=section&id=Notes%20to%20the%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) [1. General Information & 2. Basis of Presentation](index=5&type=section&id=1.%20General%20Information%20%26%202.%20Basis%20of%20Presentation) The Company, an investment holding entity registered in the Cayman Islands, primarily provides environmental cleaning and property management services in Hong Kong, with financial statements prepared in HKD under HKFRS but not reviewed by auditors - The Group's principal activities include providing environmental cleaning solutions, such as street, building, bus, and ferry cleaning, and property management services[9](index=9&type=chunk) - The unaudited condensed consolidated results for the quarter have been reviewed by the Company's audit committee but not by the Group's auditor[13](index=13&type=chunk)[11](index=11&type=chunk) [3. Revenue](index=6&type=section&id=3.%20Revenue) Total revenue reached approximately HKD 151 million, with street cleaning solutions contributing HKD 101 million, while bus and ferry cleaning solutions saw a significant 78.5% year-on-year revenue increase Revenue Composition (By Business Segment) | Business Segment | 2021 Q1 (HKD thousands) | 2020 Q1 (HKD thousands) | Year-on-Year Change | | :--- | :--- | :--- | :--- | | Street Cleaning Solutions | 100,583 | 106,555 | -5.6% | | Building Cleaning Solutions | 20,835 | 22,826 | -8.7% | | Bus and Ferry Cleaning Solutions | 17,753 | 9,943 | +78.5% | | Other Cleaning Solutions | 9,941 | 4,937 | +101.4% | | Property Management Services | 1,996 | 2,074 | -3.8% | | **Total** | **151,108** | **146,335** | **+3.3%** | [4. Other Income, 5. Finance Costs, 6. Income Tax Expense, 7. Profit for the period](index=6&type=section&id=4.%20Other%20Income%2C%205.%20Finance%20Costs%2C%206.%20Income%20Tax%20Expense%2C%207.%20Profit%20for%20the%20period) Other income significantly decreased due to prior period government subsidies, finance costs declined by 24.4% from reduced bank borrowing interest, and total staff costs increased, while income tax expense decreased - Other income significantly decreased from **HKD 2.24 million** in the prior period to **HKD 0.21 million**, primarily due to the absence of government anti-epidemic fund and employment support scheme subsidies during the reporting period[16](index=16&type=chunk)[30](index=30&type=chunk) - Finance costs decreased by **24.4%** year-on-year to **HKD 0.465 million**, mainly attributable to reduced interest on bank borrowings[18](index=18&type=chunk)[32](index=32&type=chunk) - Total staff costs increased from **HKD 111 million** to **HKD 118 million**, primarily due to higher salaries, wages, and other benefits[20](index=20&type=chunk) [8. Earnings Per Share](index=8&type=section&id=8.%20Earnings%20Per%20Share) Basic and diluted earnings per share for the period were **HKD 0.68 cents**, representing a **51.4%** decrease from **HKD 1.40 cents** in the prior period, with no dilutive ordinary shares Earnings Per Share Calculation | Item | Three Months Ended June 30, 2021 | Three Months Ended June 30, 2020 | | :--- | :--- | :--- | | Profit Attributable (HKD thousands) | 4,066 | 8,391 | | Weighted Average Number of Ordinary Shares (thousands) | 600,000 | 600,000 | | **Basic Earnings Per Share (HK cents)** | **0.68** | **1.40** | [Management Discussion and Analysis](index=9&type=section&id=Management%20Discussion%20and%20Analysis) [Business Review and Outlook](index=9&type=section&id=Business%20Review%20and%20Outlook) The Group achieved stable contract sales growth, driven by new bus and ferry cleaning contracts and renewed street cleaning services, successfully securing new government contracts despite a subsidiary's bidding suspension, and remains confident in expanding market share - Contract sales growth was primarily driven by two newly awarded bus and ferry cleaning contracts, renewed street cleaning services, and new services provided to public crematoria[23](index=23&type=chunk) - Despite a key subsidiary's bidding suspension by the Food and Environmental Hygiene Department (FEHD), the Group successfully secured two FEHD service contracts through another subsidiary and anticipates more street cleaning contracts in Q4 2021[24](index=24&type=chunk) - Looking ahead, the Group remains confident in the environmental cleaning services industry outlook, committed to exploring new opportunities, expanding market share, and strengthening internal controls to maximize shareholder returns[26](index=26&type=chunk) [Financial Review](index=10&type=section&id=Financial%20Review) Revenue grew 3.3% to HKD 151 million, driven by bus and ferry cleaning, but gross profit margin decreased from 13.3% to 10.1% due to increased direct salaries, leading to a 51.5% decline in net profit to HKD 4.07 million - Revenue increased by **3.3%** year-on-year, primarily driven by an additional **HKD 7.81 million** from bus and ferry cleaning solutions and an increase of approximately **HKD 5 million** from other cleaning solutions[28](index=28&type=chunk) - Gross profit and gross profit margin decreased by **21.4%** and **3.2 percentage points** respectively, mainly due to an increase of approximately **HKD 6.65 million** in direct salaries during the reporting period[29](index=29&type=chunk) - Profit attributable to owners of the Company decreased by **51.5%** year-on-year from **HKD 8.39 million** to **HKD 4.07 million**, due to lower gross profit and the base effect of government subsidies in the prior period[34](index=34&type=chunk) [Dividend](index=11&type=section&id=Dividend) The Board does not recommend a dividend for the current reporting period but has approved a final dividend of **HKD 1.5 cents** per share for the year ended March 31, 2021 - The Board does not recommend a dividend for the current reporting period[35](index=35&type=chunk) - The final dividend of **HKD 1.5 cents** per share for the year ended March 31, 2021, has been approved by shareholders and is expected to be paid on or about October 20, 2021[35](index=35&type=chunk) [Corporate Governance and Other Disclosures](index=11&type=section&id=Corporate%20Governance%20and%20Other%20Disclosures) [Disclosure of Interests](index=11&type=section&id=Disclosure%20of%20Interests) As of June 30, 2021, controlling shareholders Mr. Wong Chong Shing, Mr. Wong Man Shing, and Mr. Wong Chi Ho were deemed to jointly hold **61.50%** of the Company's shares due to an acting in concert agreement Directors' and Chief Executive's Interests in Shares (Long Positions) | Director | Capacity | Number of Ordinary Shares | Percentage of Interest | | :--- | :--- | :--- | :--- | | Mr. Wong Chong Shing | Interest in controlled corporation; Interest of person acting in concert | 369,000,000 | 61.50% | | Mr. Wong Man Shing | Interest in controlled corporation; Interest of person acting in concert | 369,000,000 | 61.50% | | Mr. Wong Chi Ho | Interest in controlled corporation; Interest of person acting in concert | 369,000,000 | 61.50% | - Mr. Wong Chong Shing, Mr. Wong Man Shing, and Mr. Wong Chi Ho entered into an acting in concert agreement, and are therefore deemed to be interested in each other's shares under the Securities and Futures Ordinance[39](index=39&type=chunk) [Compliance and Internal Control](index=14&type=section&id=Compliance%20and%20Internal%20Control) The Company complied with the Corporate Governance Code and directors' securities transaction code, with its audit committee, composed of three independent non-executive directors, reviewing the quarterly financial statements, and no share options granted since the scheme's adoption - During the reporting period, the Company complied with the Corporate Governance Code set out in Appendix 15 to the GEM Listing Rules[44](index=44&type=chunk) - No share options have been granted by the Company since the adoption of the share option scheme up to June 30, 2021[48](index=48&type=chunk) - The audit committee, comprising three independent non-executive directors, has reviewed the unaudited condensed consolidated financial statements for the quarter[50](index=50&type=chunk)

香 港 聯 合 交 易 所 有 限 公 司（「聯 交 所」）GEM特 色 GEM乃 為 較 於 聯 交 所 上 市 的 其 他 公 司 帶 有 更 高 投 資 風 險 的 中 小 型 公 司 提 供 上 市 的 市 場。有 意 投 資 者 應 了 解投資有關公司的潛在風險，並應經審慎周詳考慮後方作出投資決定。 由於在GEM上 市 的 公 司 一 般 為 中 小 型 公 司，故 於GEM買賣的證券可能會較於聯交所主板買賣的證券承受 更大的市場波動風險，同時無法保證於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的內容概不負責，對其準確性或完整性亦不發表任何聲明， 並明確表示概不對因本報告全部或任何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 本 報 告（萬 成 環 球 控 股 有 限 公 司（「本 公 司」，連 同 其 附 屬 公 司 統 稱「本 集 團」）董 事（「董 事」）共 同 及 個 別 對 此 負 全 責）乃 遵 照《聯 交 所GEM證 券 上 市 規 則》（「《GEM上 市 規 則》」）的 規 定 而 提 供 有 關 本 公 司 的 資 料。董 事 經 ...

Financial Performance - For the three months ended December 31, 2020, the company's revenue was HKD 140,872,000, a decrease of 7.5% compared to HKD 152,564,000 for the same period in 2019[4] - For the nine months ended December 31, 2020, the company's revenue increased to HKD 432,724,000, representing an increase of 10% from HKD 393,551,000 in the same period of 2019[4] - The gross profit for the three months ended December 31, 2020, was HKD 19,185,000, down 23.2% from HKD 24,961,000 in 2019[4] - The net profit for the nine months ended December 31, 2020, was HKD 25,951,000, which is an increase of 98.5% compared to HKD 13,097,000 for the same period in 2019[4] - The basic and diluted earnings per share for the nine months ended December 31, 2020, was HKD 4.33, compared to HKD 2.18 for the same period in 2019, reflecting a 98.2% increase[4] - The group recorded revenue of approximately HKD 432,724,000 for the reporting period, an increase of about HKD 39,173,000 or 10.0% compared to HKD 393,551,000 in the same period of 2019[33] - The group recorded a net profit attributable to shareholders of approximately HKD 25,951,000, an increase of about 98.1% compared to HKD 13,097,000 in the same period of 2019[39] Revenue Breakdown - The revenue from street cleaning solutions for the nine months ended December 31, 2020, was HKD 311,689,000, an increase of 14.6% from HKD 272,063,000 in 2019[14] - The revenue from building cleaning solutions decreased to HKD 64,215,000 for the nine months ended December 31, 2020, down from HKD 69,591,000 in 2019, a decline of 7.1%[14] Equity and Shareholding - The company reported a total equity of HKD 98,843,000 as of December 31, 2020, up from HKD 71,927,000 as of December 31, 2019[6] - As of December 31, 2020, Mr. Huang Chuang Cheng, Mr. Huang Wan Cheng, and Mr. Huang Zhi Hao each hold 369,000,000 shares, representing 61.50% of the company's equity[42] - Wan Cheng Global Holdings Limited and Li Hang Investment Limited each hold 175,500,000 shares, accounting for 29.25% of the company's equity[45] - The total number of shares held by Mr. Huang Wan Cheng includes 175,500,000 shares from Li Hang Investment Limited and 193,500,000 shares as a concert party with Mr. Huang Chuang Cheng and Mr. Huang Zhi Hao[46] - Mr. Huang Zhi Hao's total shareholding of 369,000,000 shares includes 18,000,000 shares from Jun Cheng Investment Limited and 351,000,000 shares as a concert party with Mr. Huang Wan Cheng and Mr. Huang Chuang Cheng[46] Expenses and Costs - Total employee costs increased to HKD 338,306,000 for the nine months ended December 31, 2020, compared to HKD 305,274,000 in the same period of 2019, reflecting a growth of 10.8%[20] - Interest expenses on bank loans decreased to HKD 721,000 for the nine months ended December 31, 2020, down from HKD 696,000 in the same period of 2019[18] - The total financing costs for the nine months ended December 31, 2020, were HKD 1,618,000, a decrease from HKD 1,828,000 in the same period of 2019[18] - Administrative expenses increased from approximately HKD 33,790,000 to about HKD 38,281,000, an increase of about HKD 4,491,000[37] - Financing costs decreased by approximately HKD 210,000 or 11.5% from about HKD 1,828,000 to approximately HKD 1,618,000[38] Other Income and Government Support - The company reported a total of HKD 12,333,000 in other income for the nine months ended December 31, 2020, compared to HKD 420,000 in the same period of 2019[16] - Other income rose significantly from approximately HKD 420,000 to about HKD 12,333,000, mainly due to government subsidies related to pandemic response and employment support totaling approximately HKD 12,139,000[36] - Government subsidies for epidemic prevention amounted to HKD 2,340,000 for the nine months ended December 31, 2020[16] Corporate Governance - The company is committed to maintaining high standards of corporate governance and transparency to protect shareholder interests[50] - The audit committee consists of three independent non-executive directors, ensuring oversight of the financial reporting process[56] - The company has not purchased, sold, or redeemed any of its listed securities during the reporting period[49] - The company has not granted any stock options under the stock option plan as of December 31, 2020[54] - The company confirms that it has sufficient public float, complying with the minimum public float requirement of 25% under the GEM Listing Rules[55] Business Strategy - The company continues to focus on providing environmental cleaning solutions, including street cleaning, building cleaning, and waste management services[8] - The company continues to seek new business opportunities to strengthen its market leadership in the cleaning industry[25] - The group plans to seek new government contracts through another subsidiary to mitigate the impact of the suspension of bidding for cleaning service contracts[32] - The group aims to explore new business opportunities from various government departments and private organizations to expand its customer base and generate further revenue[32] - The group will continue to pursue diversified investment opportunities to maximize shareholder returns[32] Financial Review - The financial results are unaudited and have been reviewed by the company's audit committee[12] - The deferred tax expense for the nine months ended December 31, 2020, was a credit of HKD 59,000, compared to a charge of HKD 102,000 in the same period of 2019[19]

[Company Information](index=4&type=section&id=Company%20Information) The report discloses fundamental company information including board members, committee compositions, registered office, principal place of business, and main bankers - The report discloses fundamental company information including board members, committee compositions, registered office, principal place of business, and main bankers[5](index=5&type=chunk)[6](index=6&type=chunk) [Unaudited Condensed Consolidated Financial Statements](index=5&type=section&id=Unaudited%20Condensed%20Consolidated%20Financial%20Statements) [Unaudited Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=5&type=section&id=Unaudited%20Condensed%20Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) For the six months ended September 30, 2020, the company's revenue grew by **21.1%** year-on-year, gross profit increased by **51.2%**, and profit for the period surged by **279.7%** to **HK$18,141 thousand** due to a significant increase in other income from government subsidies, with basic earnings per share reaching **3.02 HK cents** Consolidated Statement of Profit or Loss Summary (For the six months ended September 30) | Metric | 2020 (HK$ thousands) | 2019 (HK$ thousands) | Y-o-Y Change | | :--- | :--- | :--- | :--- | | Revenue | 291,852 | 240,987 | +21.1% | | Gross Profit | 37,891 | 25,062 | +51.2% | | Profit Before Tax | 20,878 | 5,408 | +286.1% | | Profit for the Period | 18,141 | 4,778 | +279.7% | | Basic Earnings Per Share (HK cents) | 3.02 | 0.80 | +277.5% | [Unaudited Condensed Consolidated Statement of Financial Position](index=6&type=section&id=Unaudited%20Condensed%20Consolidated%20Statement%20of%20Financial%20Position) As of September 30, 2020, the company's total assets were **HK$209,281 thousand** and total liabilities were **HK$118,248 thousand**, with current assets significantly increasing driven by trade receivables and cash, while current liabilities rose due to increased borrowings, leading to a decrease in the current ratio from **1.94x** to **1.71x** Consolidated Statement of Financial Position Summary | Metric | September 30, 2020 (HK$ thousands) | March 31, 2020 (HK$ thousands) | | :--- | :--- | :--- | | **Assets** | | | | Non-current Assets | 25,856 | 28,326 | | Current Assets | 183,425 | 139,041 | | **Total Assets** | **209,281** | **167,367** | | **Liabilities and Equity** | | | | Current Liabilities | 107,211 | 71,516 | | Non-current Liabilities | 11,037 | 22,959 | | **Total Liabilities** | **118,248** | **94,475** | | **Total Equity** | **91,033** | **72,892** | [Unaudited Condensed Consolidated Statement of Changes in Equity](index=7&type=section&id=Unaudited%20Condensed%20Consolidated%20Statement%20of%20Changes%20in%20Equity) For the six months ended September 30, 2020, total equity increased from **HK$72,892 thousand** to **HK$91,033 thousand**, with the increase entirely attributable to the **HK$18,141 thousand** profit recorded during the period - Total equity increased by **HK$18,141 thousand** during the period, from **HK$72,892 thousand** to **HK$91,033 thousand**, with the increase stemming from profit for the period[11](index=11&type=chunk) [Unaudited Condensed Consolidated Statement of Cash Flows](index=8&type=section&id=Unaudited%20Condensed%20Consolidated%20Statement%20of%20Cash%20Flows) During the reporting period, the company's net cash and cash equivalents increased by **HK$17,194 thousand**, with operating cash flow turning positive due to improved profitability, and net cash inflow from financing activities of **HK$15,342 thousand** supporting business expansion Condensed Consolidated Statement of Cash Flows Summary (For the six months ended September 30) | Metric | 2020 (HK$ thousands) | 2019 (HK$ thousands) | | :--- | :--- | :--- | | Net Cash From Operating Activities | 2,718 | (14,912) | | Net Cash (Used in) Investing Activities | (866) | (33,132) | | Net Cash From Financing Activities | 15,342 | 27,514 | | Net Increase (Decrease) in Cash and Cash Equivalents | 17,194 | (20,530) | | Cash and Cash Equivalents at End of Period | 57,348 | 12,918 | [Notes to the Unaudited Condensed Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20the%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) The notes detail the company's principal accounting policies, revenue composition, other income sources, and expense breakdowns, highlighting significant growth in street cleaning solutions revenue and a substantial increase in other income from government anti-epidemic and employment support subsidies, with no dividends proposed for the period [General Information](index=9&type=section&id=1.%20General%20Information) The company is an investment holding company whose subsidiaries primarily provide comprehensive environmental cleaning solutions in Hong Kong, including street, building, bus, and ferry cleaning services - The Group's principal business is providing environmental cleaning solutions, including street cleaning, building cleaning, bus and ferry cleaning, refuse collection and waste disposal, and pest control[15](index=15&type=chunk) [Revenue](index=10&type=section&id=3.%20Revenue) During the reporting period, total revenue increased by **21.1%** to **HK$291,852 thousand**, primarily driven by a **31.8%** year-on-year growth in the core 'Street Cleaning Solutions' segment, while 'Building Cleaning' and 'Bus and Ferry Cleaning' revenues declined Revenue Composition (For the six months ended September 30) | Business Segment | 2020 (HK$ thousands) | 2019 (HK$ thousands) | Y-o-Y Change | | :--- | :--- | :--- | :--- | | Street Cleaning Solutions | 211,641 | 160,603 | +31.8% | | Building Cleaning Solutions | 44,397 | 46,007 | -3.5% | | Bus and Ferry Cleaning Solutions | 19,807 | 24,009 | -17.5% | | Others | 16,007 | 10,368 | +54.4% | | **Total** | **291,852** | **240,987** | **+21.1%** | [Other Income](index=10&type=section&id=4.%20Other%20Income) Other income surged from **HK$361 thousand** to **HK$7,333 thousand** during the period, primarily due to **HK$7,161 thousand** in subsidies from the Hong Kong Government's Anti-epidemic Fund and Employment Support Scheme - The significant increase in other income was primarily due to **HK$2,331 thousand** from the Hong Kong Government's Anti-epidemic Fund and **HK$4,830 thousand** from the Employment Support Scheme during the reporting period[23](index=23&type=chunk) [Finance Costs](index=11&type=section&id=5.%20Finance%20Costs) Finance costs slightly increased from **HK$1,081 thousand** to **HK$1,207 thousand** year-on-year, primarily due to higher interest on bank borrowings - Finance costs primarily comprise interest on bank borrowings and lease liabilities, with interest on bank borrowings increasing from **HK$267 thousand** to **HK$612 thousand**[25](index=25&type=chunk) [Income Tax Expense](index=11&type=section&id=6.%20Income%20Tax%20Expense) Income tax expense increased from **HK$630 thousand** to **HK$2,737 thousand** year-on-year, driven by a significant rise in profit before tax, with eligible entities in Hong Kong benefiting from the two-tiered profits tax regime - Hong Kong profits tax adopts a two-tiered system, with a tax rate of **8.25%** for the first **HK$2 million** of assessable profits and **16.5%** for profits exceeding this amount[26](index=26&type=chunk) [Earnings Per Share](index=13&type=section&id=8.%20Earnings%20Per%20Share) For the reporting period, profit used for basic earnings per share calculation was **HK$18,141 thousand**, resulting in basic and diluted earnings per share of **3.02 HK cents** based on **600 million** weighted average ordinary shares outstanding, a significant increase from **0.80 HK cents** in the prior year - Basic and diluted earnings per share were **3.02 HK cents**, compared to **0.80 HK cents** in the prior period, with no potential dilutive ordinary shares during the reporting period[8](index=8&type=chunk)[29](index=29&type=chunk) [Dividends](index=13&type=section&id=9.%20Dividends) The Board did not recommend the payment of an interim dividend for the six months ended September 30, 2020 - The Group did not recommend the payment of any dividends for the six months ended September 30, 2020, and 2019[30](index=30&type=chunk) [Trade Receivables](index=14&type=section&id=11.%20Trade%20Receivables) As of September 30, 2020, trade receivables significantly increased to **HK$79,156 thousand** from **HK$53,055 thousand** as of March 31, 2020, with the majority of receivables aged within **60 days** - Trade receivables increased from **HK$53,055 thousand** to **HK$79,156 thousand**, with **94.7%** of the amounts aged within **60 days**[33](index=33&type=chunk)[34](index=34&type=chunk) [Trade Payables](index=15&type=section&id=12.%20Trade%20Payables) As of September 30, 2020, trade payables slightly decreased to **HK$7,191 thousand** from **HK$7,979 thousand** as of March 31, 2020, with approximately **73.6%** of payables aged within **60 days** - Trade payables decreased from **HK$7,979 thousand** to **HK$7,191 thousand**, with an average credit period of **60 days**[36](index=36&type=chunk)[37](index=37&type=chunk) [Related Party Transactions](index=16&type=section&id=14.%20Related%20Party%20Transactions) During the reporting period, the Group engaged in related party transactions, primarily involving lease payments to Director Mr. Wong Chong Shing and consultancy fees to subsidiary director Mr. Lo Wing Keung, with key management personnel short-term benefits amounting to **HK$2,578 thousand** - During the reporting period, lease payments of **HK$202 thousand** were made to Director Mr. Wong Chong Shing, and consultancy fees of **HK$180 thousand** were paid to a subsidiary director[40](index=40&type=chunk) - Short-term benefits for directors and other key management personnel amounted to **HK$2,578 thousand**, an increase from **HK$1,920 thousand** in the prior period[41](index=41&type=chunk) [Management Discussion and Analysis](index=17&type=section&id=Management%20Discussion%20and%20Analysis) [Business Review and Outlook](index=17&type=section&id=Business%20Review%20and%20Outlook) During the reporting period, the company achieved significant sales growth driven by new government street cleaning contracts, with minimal financial impact from the COVID-19 pandemic; however, a major risk emerged as key subsidiary 'Man Shing Cleaning' was suspended from bidding on FEHD contracts for five years, which is expected to adversely affect future revenue and profit, prompting the company to seek legal review and plan for other subsidiaries to participate in tenders [Business Review](index=17&type=section&id=Business%20Review) The Group achieved significant contract sales growth driven by several major street cleaning service contracts secured in late 2019 and early 2020, with its business portfolio covering various cleaning sectors, and newly acquired subsidiary 'Kei Tak Yan' contributing revenue and profit, while the COVID-19 pandemic had operational impacts but no material financial repercussions as of the reporting date - Business growth was primarily driven by street cleaning service contracts secured for Kowloon City and Wong Tai Sin districts in October 2019 and March 2020[43](index=43&type=chunk) - Kei Tak Yan Property Management Limited, a wholly-owned subsidiary acquired in October 2019, contributed approximately **HK$4,129 thousand** in revenue and **HK$1,144 thousand** in profit before tax for the six months ended June 30, 2020[45](index=45&type=chunk) [Latest Business Development](index=18&type=section&id=Latest%20Business%20Development) The company disclosed a significant adverse development: its wholly-owned subsidiary 'Man Shing Cleaning Services Limited' was suspended from bidding on FEHD cleaning service contracts for five years starting June 19, 2020, due to a breach of the Occupational Safety and Health Ordinance, which the Board expects to adversely impact the Group's revenue and profit given its status as a major revenue contributor - Core subsidiary 'Man Shing Cleaning' was suspended by the Hong Kong Food and Environmental Hygiene Department (FEHD) from bidding on cleaning service contracts for five years due to a breach of safety regulations[47](index=47&type=chunk) - The company is seeking a review of the bidding suspension decision and may consider legal action, while also planning for other subsidiaries to participate in future FEHD tenders to mitigate the impact[47](index=47&type=chunk)[48](index=48&type=chunk) [Outlook](index=18&type=section&id=Outlook) Facing the challenge of its key subsidiary's bidding suspension, the company will strive to secure new FEHD tenders through other subsidiaries, actively explore new business opportunities from various government departments and private sectors to expand its client base, and continue to seek diversified investment opportunities to maximize shareholder returns - Future strategies include: 1) continuing to bid for FEHD contracts through other subsidiaries; 2) expanding clients to other government departments and private sectors; and 3) seeking diversified investment opportunities[49](index=49&type=chunk) [Financial Review](index=18&type=section&id=Financial%20Review) During the reporting period, the Group demonstrated strong financial performance with revenue growing by **21.1%** year-on-year, primarily from new street cleaning contracts, gross margin improving from **10.4%** to **13.0%** due to higher-margin projects and efficiency gains, and a substantial increase in other income from government subsidies, collectively leading to a **280%** year-on-year surge in net profit [Revenue](index=18&type=section&id=Revenue) Revenue increased by **21.1%** year-on-year to **HK$291,852 thousand**, primarily driven by new street cleaning contracts for Kowloon City and Wong Tai Sin districts, which commenced in October 2019 and March 2020, contributing approximately **HK$87,000 thousand** in revenue during the period and offsetting the impact of some expired contracts - Revenue increased by approximately **HK$50,865 thousand** (**+21.1%**) year-on-year, primarily due to several new FEHD street cleaning contracts[50](index=50&type=chunk) [Gross Profit and Gross Margin](index=19&type=section&id=Gross%20Profit%20and%20Gross%20Margin) Gross profit increased by **51.2%** year-on-year to **HK$37,891 thousand**, with gross margin improving from **10.4%** to **13.0%**, primarily due to increased contributions from higher-margin private and government projects, enhanced team efficiency, and cost control - Gross margin improved from **10.4%** to **13.0%**, primarily due to increased contributions from higher-margin projects and enhanced efficiency[52](index=52&type=chunk) [Other Income](index=19&type=section&id=Other%20Income) Other income significantly increased from **HK$361 thousand** to **HK$7,333 thousand**, primarily driven by approximately **HK$2,331 thousand** from the Hong Kong Government's Anti-epidemic Fund and **HK$4,830 thousand** from the Employment Support Scheme - The increase in other income primarily stemmed from two Hong Kong Government subsidies, totaling approximately **HK$7,161 thousand**[53](index=53&type=chunk) [Administrative Expenses](index=19&type=section&id=Administrative%20Expenses) Administrative expenses increased by **HK$4,205 thousand** year-on-year to **HK$23,139 thousand**, primarily due to higher staff costs, vehicle depreciation and related expenses, and increased insurance premiums for new contracts, driven by business expansion - The increase in administrative expenses primarily resulted from higher staff costs, vehicle depreciation and related motor expenses, and increased insurance premiums for new contracts[54](index=54&type=chunk) [Net Profit](index=19&type=section&id=Net%20Profit) Driven by revenue growth, improved gross margin, and government subsidies, net profit attributable to owners of the company reached **HK$18,141 thousand**, a significant increase of approximately **280%** from **HK$4,778 thousand** in the prior period - Net profit for the reporting period was approximately **HK$18,141 thousand**, an increase of approximately **280%** from **HK$4,778 thousand** in the prior period[56](index=56&type=chunk) [Liquidity, Financial Resources and Capital Structure](index=20&type=section&id=Liquidity%2C%20Financial%20Resources%20and%20Capital%20Structure) The Group maintains a sound financial position and healthy liquidity, with cash and bank balances increasing to **HK$57,348 thousand** and a current ratio of **1.71x** as of September 30, 2020; bank borrowings increased to support business expansion, leading to a rise in the gearing ratio from **27.7%** to **41.0%** Key Financial Ratios | Metric | September 30, 2020 | March 31, 2020 | | :--- | :--- | :--- | | Cash and Bank Balances (HK$ thousands) | 57,348 | 40,154 | | Current Ratio | 1.71x | 1.94x | | Gearing Ratio | 41.0% | 27.7% | - Bank borrowings increased by approximately **84.9%** from **HK$20,181 thousand** to **HK$37,322 thousand**, primarily for business expansion[59](index=59&type=chunk) [Other Financial Information](index=21&type=section&id=Other%20Financial%20Information) The Group utilizes bank credit facilities, such as bank guarantees, to support service contract fulfillment, collateralizing certain deposits for this purpose; directors believe existing insurance adequately covers personal injury claims, posing no material contingent liabilities, and there were no significant investments or capital commitments during the reporting period, with minimal foreign exchange risk [Contingent Liabilities](index=21&type=section&id=Contingent%20Liabilities) The Group issued bank guarantees for service contract fulfillment, collateralizing approximately **HK$30,119 thousand** in deposits; additionally, while facing personal injury claims, directors believe most are covered by insurance, posing no material liabilities - As of September 30, 2020, deposits pledged for bank guarantees and other financing amounted to approximately **HK$30,119 thousand**[62](index=62&type=chunk) [Material Investments, Acquisitions and Disposals](index=21&type=section&id=Material%20Investments%2C%20Acquisitions%20and%20Disposals) During the reporting period, the Group did not undertake any material investments, acquisitions, or disposals, nor does it have any related future plans - The Group had no material investments, acquisitions, or disposals during the reporting period, and currently has no plans for any significant investments or capital assets[66](index=66&type=chunk)[67](index=67&type=chunk) [Charges on the Group's Assets](index=22&type=section&id=Charges%20on%20the%20Group%27s%20Assets) As of September 30, 2020, the Group's total interest-bearing debts amounted to approximately **HK$55,881 thousand**; general bank facilities are secured by company guarantees, cash deposits of subsidiaries, and trade receivables, while lease liabilities are secured by charges over leased assets and company guarantees - As of September 30, 2020, the Group's total interest-bearing debts amounted to approximately **HK$55,881 thousand**, with general bank facilities totaling **HK$196.6 million**[69](index=69&type=chunk) [Other Disclosures](index=22&type=section&id=Other%20Disclosures) [Employees and Remuneration Policy](index=22&type=section&id=Employees%20and%20Remuneration%20Policy) As of September 30, 2020, the Group had approximately **2,716** employees, with total staff costs for the reporting period amounting to approximately **HK$228 million**, an increase from the prior year; the company's remuneration policy is based on qualifications, position, and seniority, supplemented by discretionary bonuses and share option schemes to incentivize staff - As of September 30, 2020, the Group had approximately **2,716** employees, with total staff costs (including directors' emoluments) for the reporting period amounting to approximately **HK$228 million**[71](index=71&type=chunk) [Interim Dividend](index=22&type=section&id=Interim%20Dividend) The Board did not recommend the payment of an interim dividend for the six months ended September 30, 2020 - The Board did not recommend the payment of an interim dividend, consistent with no dividend payment in the prior period[72](index=72&type=chunk) [Disclosure of Interests](index=23&type=section&id=Disclosure%20of%20Interests) Controlling shareholders Mr. Wong Chong Shing, Mr. Wong Man Shing, and Mr. Wong Chi Ho, acting in concert, collectively hold **61.50%** of the company's shares, with the report detailing the shareholding interests of directors and substantial shareholders - Mr. Wong Chong Shing, Mr. Wong Man Shing, and Mr. Wong Chi Ho are parties acting in concert and are deemed to jointly hold **369,000,000** shares of the company, representing **61.50%** of the total share capital[74](index=74&type=chunk)[75](index=75&type=chunk) [Corporate Governance](index=25&type=section&id=Corporate%20Governance) The company has adopted and complied with the Corporate Governance Code in the GEM Listing Rules; the Audit Committee, comprising three independent non-executive directors, has reviewed the interim financial statements, and directors confirm continuous compliance with the Model Code for Securities Transactions by Directors during the reporting period - The company has established an Audit Committee, comprising three independent non-executive directors, which has reviewed the unaudited condensed consolidated financial statements[88](index=88&type=chunk) - Directors confirm that as of the reporting date, the company's issued shares maintained sufficient public float of not less than **25%**[87](index=87&type=chunk)

香 港 聯 合 交 易 所 有 限 公 司（「聯 交 所」）GEM特 色 GEM乃為較於聯交所上市的其他公司帶有更高投資風險的中小型公司提供上市的市場。有意投 資者應了解投資有關公司的潛在風險，並應經審慎周詳考慮後方作出投資決定。 由於在GEM上市的公司一般為中小型公司，故於GEM買賣的證券可能會較於聯交所主板買賣的 證券承受更大的市場波動風險，同時無法保證於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的內容概不負責，對其準確性或完整性亦不發表 任何聲明，並明確表示概不對因本報告全部或任何部分內容而產生或因依賴該等內容而引致的 任何損失承擔任何責任。 本 報 告（萬 成 環 球 控 股 有 限 公 司（「本公司」，連 同 其 附 屬 公 司 統 稱「本集團」）董 事（「董 事」）共 同 及 個 別 對 此 負 全 責）乃 遵 照《聯 交 所GEM證 券 上 市 規 則》（「《GEM上市規則》」）的 規 定 而 提 供 有 關 本 公 司 的 資 料。董 事 經 作 出 一 切 合 理 查 詢 後 確 認，就 彼 等 所 深 知 及 確 信，本 報 告 所 載 資 料 在 各 ...

香 港 聯 合 交 易 所 有 限 公 司（「聯 交 所」）GEM特 色 GEM乃 為 較 於 聯 交 所 上 市 的 其 他 公 司 帶 有 更 高 投 資 風 險 的 中 小 型 公 司 提 供 上 市 的 市 場。有 意 投 資 者 應 了 解投資有關公司的潛在風險，並應經審慎周詳考慮後方作出投資決定。GEM的較高風險及其他特色表明其 為一個更適合專業投資者及其他經驗豐富的投資者的市場。 由於在GEM上 市 的 公 司 一 般 為 中 小 型 公 司，故 於GEM買賣的證券可能會較於聯交所主板買賣的證券承受 更大的市場波動風險，同時無法保證於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的內容概不負責，對其準確性或完整性亦不發表任何聲明， 並明確表示概不對因本報告全部或任何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 本 報 告（萬 成 環 球 控 股 有 限 公 司（「本 公 司」，連 同 其 附 屬 公 司 統 稱「本 集 團」）董 事（「董 事」）共 同 及 個 別 對 此 負 全 責）乃 遵 照《聯 交 所GEM證 券 上 市 規 則》（「《GEM ...

香 港 聯 合 交 易 所 有 限 公 司（「聯 交 所」）GEM特 色 GEM乃為較於聯交所上市的其他公司帶有更高投資風險的中小型公司提供上市的市場。有意投 資者應了解投資有關公司的潛在風險，並應經審慎周詳考慮後方作出投資決定。 鑒 於GEM上市公司一般為中小型公司，於GEM買賣的證券可能會較於聯交所主板買賣的證券承 受更大的市場波動風險，同時無法保證於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的內容概不負責，對其準確性或完整性亦不發表 任何聲明，並明確表示概不對因本報告全部或任何部分內容而產生或因依賴該等內容而引致的 任何損失承擔任何責任。 本 報 告（萬 成 環 球 控 股 有 限 公 司（「本公司」，連 同 其 附 屬 公 司 統 稱「本集團」）董 事（「董 事」）共 同 及 個 別 對 此 負 全 責）乃 遵 照《聯 交 所GEM證 券 上 市 規 則》（「《GEM上市規則》」）的 規 定 而 提 供 有 關 本 公 司 的 資 料。董 事 經 作 出 一 切 合 理 查 詢 後 確 認，就 彼 等 所 深 知 及 確 信，本 報 告 所 載 資 料 在 各 重 ...

由於在GEM上 市 的 公 司 一 般 為 中 小 型 公 司，故 於GEM買賣的證券可能會較於聯交所主板買賣的證券承受 更大的市場波動風險，同時無法保證於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 的 內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明， 並明確表示概不對因本報告全部或任何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 本 報 告（萬 成 環 球 控 股 有 限 公 司（「本 公 司」，連 同 其 附 屬 公 司 統 稱「本 集 團」）董 事（「董 事」）共 同 及 個 別 對 此 負 全 責）乃 遵 照《聯 交 所GEM證 券 上 市 規 則》（「《GEM上 市 規 則》」）的 規 定 而 提 供 有 關 萬 成 環 球 控 股 有 限 公 司 的 資 料。董 事 經 作 出 一 切 合 理 查 詢 後 確 認，就 彼 等 所 深 知 及 確 信，本 報 告 所 載 資 料 在 各 重 大 方 面 均 屬 準 確 及 完 整，且 無 誤 導 或 欺 詐 成 分，及 ...

未經審核簡明綜合損益及其他全面收入表 截 至2019年6月30日止三個月 | | | 截 至6月30日止三個月 | | | --- | --- | --- | --- | | | | 2019年 | 2018年 | | | 附 註 | 千港元 | 千港元 | | | | （未經審核） | （未經審核） | | 收 入 | 3 | 108,078 | 98,684 | | 銷售成本 | | (98,686) | (91,735) | | 毛 利 | | 9,392 | 6,949 | | 其他收入 | 4 | 176 | 316 | | 行政開支 | | (6,960) | (5,985) | | 融資成本 | 5 | (436) | (330) | | 稅 前 利 潤╱（虧 損） | | 2,172 | 950 | | 所得稅開支 | 6 | (254) | (247) | | 年 內 本 公 司 擁 有 人 應 佔 利 潤╱（虧 損）及 全 面 收 入 總 額 | 7 | 1,918 | 703 | | 每 股 盈 利╱（虧 損）（港 仙） | 8 | | | | 基本及攤薄 | | 0.32 | 0.12 ...

GEM乃 為 較 於 聯 交 所 上 市 的 其 他 公 司 帶 有 更 高 投 資 風 險 的 中 小 型 公 司 提 供 上 市 的 市 場。有 意 投 資 者 應 了 解投資有關公司的潛在風險，並應經審慎周詳考慮後方作出投資決定。GEM的較高風險及其他特色表明其 為一個更適合專業投資者及其他經驗豐富的投資者的市場。 由於在GEM上 市 的 公 司 一 般 為 中 小 型 公 司，故 於GEM買賣的證券可能會較於聯交所主板買賣的證券承受 更大的市場波動風險，同時無法保證於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的內容概不負責，對其準確性或完整性亦不發表任何聲明， 並明確表示概不對因本報告全部或任何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 本 報 告（萬 成 環 球 控 股 有 限 公 司（「本 公 司」，連 同 其 附 屬 公 司 統 稱「本 集 團」）董 事（「董 事」）共 同 及 個 別 對 此 負 全 責）乃 遵 照《聯 交 所GEM證 券 上 市 規 則》（「《GEM上 市 規 則》」）的 規 定 而 提 供 有 關 萬 成 環 球 控 股 ...