Financial Performance - The group's revenue for the nine months ended December 31, 2019, was approximately HKD 31,800,000, an increase of about 32% from HKD 24,100,000 for the same period in 2018[6]. - Gross profit for the same period was approximately HKD 15,200,000, resulting in a gross margin of approximately 47.7%[6]. - The net profit after tax for the nine months was approximately HKD 1,600,000, a significant recovery from a net loss of HKD 3,100,000 in the previous year[6]. - The earnings per share for the nine months was HKD 0.14, compared to a loss per share of HKD 0.26 for the same period in 2018[8]. - The group reported revenue of HKD 31,832,000 for the nine months ended December 31, 2019, an increase of 32% compared to HKD 24,146,000 for the same period in 2018[34]. - The group reported a profit attributable to owners of the company of HKD 1,603,000 for the nine months ended December 31, 2019, compared to a loss of HKD 3,054,000 in the same period of 2018[42]. - The company recorded a profit of approximately HKD 1,600,000 for the nine months ended December 31, 2019, compared to a loss of approximately HKD 3,100,000 in the same period of the previous year[68]. Revenue Segments - Revenue from the green building certification consulting segment reached HKD 13,396,000 for the nine months ended December 31, 2019, up 58% from HKD 8,446,000 in the previous year[34]. - Revenue from the acoustic, noise, and vibration control consulting segment increased by approximately 90.3% from HKD 4,000,000 to HKD 7,700,000, attributed to new contracts and significant progress in ongoing projects[63]. - The environmental, social, and governance consulting revenue decreased by approximately 22.6% from HKD 3,200,000 to HKD 2,500,000 due to increased competition in this segment[63]. - The green building certification consulting and sustainable development services contributed approximately 42.1% and 26.0% to the overall revenue, respectively, for the nine months ended December 31, 2019[51]. Expenses and Costs - Administrative expenses for the nine months were approximately HKD 13,155,000, slightly higher than HKD 13,006,000 in the previous year[8]. - The group incurred financing costs of HKD 197,000 for the nine months ended December 31, 2019, compared to HKD 118,000 for the same period in 2018, reflecting an increase of 67%[35]. - The group’s employee benefit expenses, including directors' remuneration, totaled HKD 15,124,000 for the nine months ended December 31, 2019, slightly down from HKD 15,476,000 in the previous year[36]. - The group’s depreciation of property, plant, and equipment was HKD 426,000 for the nine months ended December 31, 2019, compared to HKD 310,000 for the same period in 2018[36]. Financial Reporting and Standards - The financial statements are prepared in accordance with Hong Kong Financial Reporting Standards, with accounting policies consistent with those used in the annual financial statements for the year ended March 31, 2019[15]. - The group has adopted HKFRS 16 "Leases" from April 1, 2019, which impacts the recognition of lease liabilities and right-of-use assets[18]. - The group’s lease liabilities are initially measured at the present value of future lease payments, including fixed payments and variable lease payments based on indices or rates[21]. - The management continuously reviews estimates and assumptions that affect the financial statements, which may lead to significant adjustments in asset and liability values in future periods[24]. Strategic Plans and Market Opportunities - The company is actively exploring business opportunities in first-tier cities in China, including Shenzhen, Beijing, and Shanghai, focusing on environmental solutions and green construction[57]. - The company plans to establish a green technology and product alliance to accelerate the implementation and adoption of relevant technologies and products[57]. - The company aims to enhance its competitive position by expanding its customer base and improving productivity through enterprise resource planning systems[57]. - The company is currently planning to utilize internal financial resources to develop its green building services and solutions, as well as green product business[57]. Shareholder and Corporate Governance - As of December 31, 2019, the major shareholder Gold Investments holds 721,701,600 shares, representing 60.14% of the total shares[92]. - Ms. Guo holds 726,011,600 shares, which accounts for 60.50% of the company's shares[88]. - The roles of the chairman and CEO are separated, with Ms. Guo serving as the chairman since November 11, 2016[98]. - The audit committee was established on September 23, 2016, consisting of three independent non-executive directors[102]. Utilization of IPO Proceeds - The company revised the allocation of net proceeds from the IPO, with a total of HKD 33,396,000, of which HKD 23,626,000 remains unutilized[74]. - 40% of the net proceeds (HKD 13,313,000) is allocated for acquisitions or establishing subsidiaries, with no change from the original plan[74]. - The company has identified a potential acquisition target in the ESG sector, indicating a strategic focus on sustainable consulting services[75]. - The total unutilized proceeds after the second revision amount to HKD 19,544,000[75].

Financial Performance - The group's revenue for the six months ended September 30, 2019, was approximately HKD 20,600,000, an increase of about 22.6% from HKD 16,800,000 for the same period in 2018[6]. - Gross profit for the same period was approximately HKD 9,600,000, reflecting a gross margin improvement due to significant progress in ongoing project contracts[6]. - The net profit after tax for the six months ended September 30, 2019, was approximately HKD 1,400,000, compared to a net loss of HKD 1,600,000 for the same period in 2018[6]. - The adjusted profit before tax for the group was HKD 1,616,000, compared to a loss of HKD 1,950,000 in the previous year, indicating a significant turnaround[42]. - The group's gross profit increased by 48.2%, from approximately HKD 6,500,000 to approximately HKD 9,600,000, primarily due to the increased revenue from green building certification consulting[86]. - The group recorded a profit of approximately HKD 1,400,000 for the six months ended September 30, 2019, compared to a loss of approximately HKD 1,600,000 in the same period of 2018[89]. Revenue Segmentation - The group reported a total of HKD 9,813,000 in revenue from the green building certification consulting segment, up from HKD 5,468,000 in the previous year, marking a growth of about 79.5%[38]. - Revenue from green building certification consulting surged by 79.5%, rising from approximately HKD 5,500,000 to approximately HKD 9,800,000, driven by an increase in new contracts and significant progress in ongoing projects[81]. - The revenue from sustainable development and environmental consulting slightly decreased by 5.8%, from approximately HKD 6,000,000 to approximately HKD 5,700,000, mainly due to a slowdown in project progress[82]. Cash Flow and Financial Position - Cash and cash equivalents decreased to HKD 7,741,000 from HKD 17,046,000 as of March 31, 2019, indicating a need for improved cash management[9]. - Cash flow from operating activities showed a net outflow of HKD 5,824,000 for the six months ended September 30, 2019, compared to an outflow of HKD 4,144,000 in 2018[12]. - The net cash used in operating activities for the six months ended September 30, 2019, was approximately HKD 6,600,000, an increase from approximately HKD 4,200,000 for the same period in 2018[90]. - As of September 30, 2019, the group's cash and bank balances were approximately HKD 12,800,000, a decrease of approximately HKD 9,300,000 from HKD 22,100,000 as of March 31, 2019[91]. - The total assets of the group increased to HKD 85,014,000 from HKD 75,860,000, reflecting a growth of approximately 12.8%[38]. Equity and Liabilities - Total equity as of September 30, 2019, was HKD 65,925,000, up from HKD 65,476,000 as of March 31, 2019[9]. - The group’s total liabilities rose to HKD 19,089,000 from HKD 10,384,000, an increase of approximately 83.5%[38]. - The company's debt-to-equity ratio as of September 30, 2019, was approximately 5.3%, unchanged from March 31, 2019[111]. Operational Highlights - The company has 104 ongoing projects in sustainable development and environmental consulting, an increase from 93 projects a year earlier[72]. - As of September 30, 2019, the company had 196 ongoing projects in green building certification, up from 156 projects a year earlier[71]. - The company is actively exploring business opportunities in other first-tier cities in China, such as Beijing and Shanghai, particularly in environmental solutions and green construction[76]. Corporate Governance and Management - The board of directors is committed to maintaining high standards of corporate governance and has adopted a securities trading code[142]. - The audit committee consists of three independent non-executive directors, ensuring independent oversight of financial reporting[144]. - The company has maintained compliance with all corporate governance codes during the reporting period[141]. Future Plans and Strategies - The company plans to offer innovative services related to smart energy management and fault detection for building systems on a cloud platform in the upcoming years[78]. - The company aims to enhance its competitive position by expanding its client base and implementing enterprise resource planning systems to improve productivity[76]. - The company is committed to identifying and promoting emerging green and innovative technologies and related products[76]. Shareholder Information - As of September 30, 2019, Ms. Guo holds approximately 726,011,600 shares, representing 60.50% of the company[130]. - Gold Investments holds 721,701,600 shares, representing 60.14% of the total equity[134]. - Dr. Wong Yong Ho owns 109,161,600 shares, accounting for 9.10% of the total equity[134]. - The company has implemented a share award scheme to enhance employee benefits and retention, with 12,100,000 shares granted to selected participants[128].

Financial Performance - The group's revenue for the three months ended June 30, 2019, was approximately HKD 9,800,000, an increase of about 32.4% from HKD 7,400,000 for the same period in 2018[6] - Gross profit for the same period was approximately HKD 4,400,000, compared to HKD 2,738,000 in the previous year, reflecting a gross margin improvement[6] - The net profit after tax for the three months ended June 30, 2019, was approximately HKD 300,000, a significant recovery from a net loss of HKD 2,200,000 in the same period of 2018[6] - The basic earnings per share for the period was HKD 0.03, compared to a loss per share of HKD 0.19 in the prior year[8] - The group achieved a pre-tax profit of HKD 360,000, a turnaround from a pre-tax loss of HKD 2,629,000 in the same period last year[8] - The pre-tax profit for the group was HKD 304,000, compared to a loss of HKD 2,210,000 for the same period in 2018[38] - The group incurred a tax expense of HKD 56,000 for the period, compared to a tax credit of HKD 419,000 in the same period of the previous year[34] Revenue Breakdown - The green building certification consulting segment contributed approximately 55.3% of total revenue, while sustainable development and environmental consulting contributed 21.8%[42] - Revenue from green building certification consulting surged by 115.9%, rising from approximately HKD 2,500,000 to approximately HKD 5,400,000 due to an increase in new contracts and significant progress in ongoing projects[54] - The revenue from sustainable development and environmental consulting decreased by 27.1%, from approximately HKD 2,900,000 to approximately HKD 2,100,000, primarily due to project progress slowing and increased competition[54] - The revenue from environmental, social, and governance reporting consulting increased by 33.8%, from approximately HKD 800,000 to approximately HKD 1,000,000, due to significant progress in projects[54] Expenses and Cost Management - Administrative expenses decreased to HKD 4,066,000 from HKD 4,567,000, attributed to improved cost control measures[6] - Employee benefits expenses, including salaries and allowances, amounted to HKD 4,917,000, an increase of 7.4% from HKD 4,578,000 in the previous year[32] - The financing cost for the three months ended June 30, 2019, was HKD 35,000, a decrease of 16.7% from HKD 42,000 in the same period of 2018[31] Accounting and Compliance - The financial statements are prepared in accordance with Hong Kong Financial Reporting Standards, ensuring compliance and accuracy in reporting[13] - The company has adopted HKFRS 16, which affects the accounting treatment of leases, leading to an increase in both assets and liabilities[18] - The company has chosen not to apply the new accounting model to short-term leases (12 months or less) and low-value asset leases, continuing to recognize rental expenses on a systematic basis[20] - Deferred tax assets are only recognized when there is a reasonable expectation of future taxable profits to offset the losses, requiring significant judgment[28] Strategic Plans and Market Opportunities - The company plans to provide innovative services related to smart energy management and fault detection for building systems on a cloud platform targeting large commercial buildings in Hong Kong and China[50] - The company aims to explore business opportunities in other first-tier cities in China, such as Beijing and Shanghai, focusing on environmental solutions and green construction products[48] - The company has identified significant potential in the green building certification business following the Hong Kong government's issuance of USD 1 billion in green bonds[51] - The company anticipates continued demand for green building certification and sustainable development consulting services due to regulatory requirements in Hong Kong[39] IPO Proceeds and Utilization - The company plans to use the proceeds from its IPO, totaling approximately HKD 33,400,000 after expenses, for strategic acquisitions and business expansion in the Chinese market[60] - The revised allocation of IPO proceeds includes HKD 13,313,000 for acquisitions to enter the Chinese market, maintaining the original allocation[62] - The company aims to further expand its environmental, social, and governance consulting services, with a revised allocation of HKD 3,634,000 for this purpose[64] - The company has reduced the allocation for strategic acquisitions in Hong Kong to HKD 5,800,000 due to recent discussions regarding a potential acquisition[62] - The total amount of unutilized IPO proceeds as of July 31, 2018, was HKD 23,626,000, reflecting the company's ongoing strategic adjustments[64] Shareholding and Corporate Governance - As of June 30, 2019, Ms. Guo holds approximately 60.47% of the company's shares, with Mr. Hu also holding the same percentage through a controlled corporation[88] - Gold Investments holds 60.14% of the shares, amounting to 721,701,600 shares[92] - Dr. Wong Yong Ho owns 9.10% of the shares, totaling 109,161,600 shares[92] - The company has maintained compliance with all corporate governance codes as of June 30, 2019[99] - The audit committee consists of three independent non-executive directors, ensuring independent oversight of financial reporting[103] Risk Management - The financial department manages risks according to board-approved policies, focusing on identifying, assessing, and hedging financial risks[83] - The company has not entered into any derivative agreements or used financial instruments to hedge foreign exchange risks as of June 30, 2019[75]

Financial Performance - The group's revenue decreased from approximately HKD 30,500,000 for the year ended March 31, 2018, to approximately HKD 30,100,000 for the year ended March 31, 2019, representing a decline of 1.4%[10] - Gross profit fell from approximately HKD 13,000,000 to approximately HKD 9,700,000, a decrease of about 25.3%[10] - The net loss for the year increased from approximately HKD 4,100,000 to approximately HKD 9,900,000, primarily due to a decline in revenue and an increase in service costs from approximately HKD 17,600,000 to approximately HKD 20,400,000[11] - Administrative expenses rose by approximately HKD 2,800,000 to support employee benefits and future development[11] - The company did not declare a final dividend for the year ended March 31, 2019[12] - Revenue from green building certification consulting decreased by 38.9% from approximately HKD 16,100,000 to approximately HKD 9,800,000 due to project delays and increased competition[36] - Revenue from sustainable development and environmental consulting increased by 11.4% from approximately HKD 9,500,000 to approximately HKD 10,500,000, attributed to new contract awards[36] - Revenue from acoustic, noise, and vibration control consulting increased by approximately 138.3% from approximately HKD 2,500,000 to approximately HKD 6,000,000 due to new contract awards[37] - The loss attributable to the company's owners increased from approximately HKD 4,100,000 to approximately HKD 9,900,000, driven by decreased revenue and increased service costs[42] Business Development and Strategy - The company aims to strengthen its leadership role in the green building consulting market amid intense competition[15] - The company participated in multiple award-winning projects, enhancing its reputation in the green building sector[15] - The company is involved in a combination of certified existing buildings and new construction projects, which will enhance its capacity to provide green building certification services[15] - The local market has significant potential for green building certification services, covering over 42,000 buildings[15] - The total amount of new contracts for the company increased by approximately 30% compared to the previous year[20] - The company is expanding its business into mainland China, having secured new large-scale green building projects in Hangzhou and multiple acoustic design projects in Macau[21] - The company aims to enhance its position as a one-stop environmental solution provider to meet the increasing demand for environmental consulting and solutions[20] - The company is preparing to offer "offline to online" environmental, social and governance solutions, including an online learning course in collaboration with a scholar[20] - The company has established a wholly-owned subsidiary in Shenzhen, China, to meet the growing market demand for green building certification consulting and sustainable development services[59] - The company aims to expand its environmental, social, and governance consulting business, having identified a target company in Asia for acquisition[61] Financial Position and Cash Flow - The net cash used in operating activities for the year ended March 31, 2019, was approximately HKD 8,000,000, a decrease from HKD 8,700,000 for the year ended March 31, 2018, primarily due to improvements in accounts receivable management[43] - As of March 31, 2019, the company's cash and bank balances were approximately HKD 17,000,000, down from HKD 31,400,000 as of March 31, 2018, representing a decrease of about HKD 14,300,000[45] - The total bank financing as of March 31, 2019, was approximately HKD 8,500,000, of which about HKD 3,500,000 had been utilized[45] - The debt-to-equity ratio as of March 31, 2019, was approximately 5.3%, down from 9.8% as of March 31, 2018[48] - The total unutilized net proceeds as of March 31, 2019, amounted to HKD 18,897,000[79] Corporate Governance - The company has established a remuneration committee to review the compensation policies for directors and senior management based on performance and market practices[120] - The company has appropriate insurance arrangements for legal liabilities related to directors and senior management[128] - The group has adopted a code of conduct for directors' securities transactions, confirming compliance with the standards set out in GEM Listing Rules[135] - The group has maintained compliance with all provisions of the corporate governance code as of March 31, 2019[132] - The board of directors includes three independent non-executive directors, ensuring proper oversight of financial reporting and internal controls[140] - The company has received written confirmations regarding the independence of its independent non-executive directors[177] - The company has established various committees, including the Audit Committee and Remuneration Committee, to oversee its responsibilities[185] Market and Competitive Landscape - The company faces intense competition from market participants with more financial resources, diverse services, better pricing flexibility, stronger brand recognition, and a more solid customer base[66] - Over 90% of the company's revenue is generated from projects obtained through bidding, which are non-recurring in nature[63] - The expansion of the internal professional team has led to a decrease in gross profit margins, with the board believing that new hires will enhance the company's bidding capabilities and maintain client relationships[67] Employee and Management - The company has hired a total of 57 employees as of March 31, 2019, compared to 55 employees as of March 31, 2018[47] - The company has hired three new consultants/assistant consultants with expertise in environmental, social, and governance reporting and consulting[59] - The company has a strong leadership team with members holding various prestigious positions in professional associations and committees related to finance and environmental management[150][151][154][156] - The leadership team has a diverse background in human resources, engineering, and business development, contributing to a well-rounded strategic approach[156][159] Shareholder Information - The company has approximately HKD 20,000,000 available for distribution to equity shareholders as of March 31, 2019[96] - The company did not declare any final dividends for the fiscal year ending March 31, 2019[85] - The company has approved a share option scheme allowing for a maximum of 120,000,000 shares, representing 10% of the total issued shares immediately following the listing date[103] - A total of 6,100,000 shares were purchased under the share award scheme, with the trustee holding 22,100,000 shares as of March 31, 2019, which is approximately 1.01% of the total issued shares[104][105] Environmental, Social, and Governance (ESG) Initiatives - The company is committed to integrating corporate social responsibility with its business strategy and management policies[136] - The company emphasizes sustainable development and has been involved in various community service initiatives related to environmental impact assessments and water resource management[151][152] - The company established an Environmental, Social, and Governance (ESG) Committee to report on environmental and social responsibilities[200]

Financial Performance - The group's revenue for the nine months ended December 31, 2018, was approximately HKD 24,100,000, a decrease of about HKD 2,700,000 from HKD 26,800,000 for the same period in 2017, representing a decline of approximately 10.1%[7] - Gross profit for the nine months ended December 31, 2018, was approximately HKD 9,300,000, down from HKD 13,809,000 in the same period of 2017, indicating a decrease of about 32.8%[7] - The group reported a net loss of approximately HKD 3,100,000 for the nine months ended December 31, 2018, compared to a net profit of approximately HKD 1,500,000 for the same period in 2017, marking a significant turnaround in performance[7] - For the three months ended December 31, 2018, the group recorded a revenue of HKD 7,339,000, a decrease from HKD 8,257,000 in the same period of 2017, reflecting a decline of approximately 11.1%[9] - The basic loss per share for the nine months ended December 31, 2018, was HKD 0.25, compared to earnings of HKD 0.12 per share in the same period of 2017[9] - For the nine months ended December 31, 2018, the company reported a loss attributable to owners of the company of HKD 3,054,000 compared to a profit of HKD 1,468,000 for the same period in 2017[52] Revenue Breakdown - Revenue from green building certification consulting decreased by 29.4% to HKD 8,446,000 for the nine months ended December 31, 2018, compared to HKD 14,443,000 in the same period of 2017[44] - Revenue from sustainable development and environmental consulting increased by 14.0% to HKD 8,465,000 for the nine months ended December 31, 2018, compared to HKD 7,423,000 in the same period of 2017[44] - The company’s revenue from acoustic, noise, and vibration control consulting increased by 26.9% to HKD 4,031,000 for the nine months ended December 31, 2018, compared to HKD 3,177,000 in the same period of 2017[44] - The company’s revenue from environmental, social, and governance reporting consulting increased by 79.5% to HKD 3,204,000 for the nine months ended December 31, 2018, compared to HKD 1,782,000 in the same period of 2017[44] Expenses and Costs - The cost of services increased by approximately HKD 1,800,000, primarily due to subcontracting costs for ecological and laboratory testing services[7] - The group's administrative expenses for the nine months ended December 31, 2018, were approximately HKD 13,006,000, compared to HKD 12,164,000 for the same period in 2017, an increase of about 6.9%[9] - Employee benefits expenses increased to HKD 16,347,000 for the nine months ended December 31, 2018, up from HKD 15,354,000 in 2017, representing a growth of approximately 6.5%[50] - The company incurred financing costs of HKD 118,000 for the nine months ended December 31, 2018, compared to HKD 28,000 in the same period of 2017, representing a 321.4% increase[46] Equity and Retained Earnings - The total equity attributable to the owners of the company as of December 31, 2018, was approximately HKD 73,603,000, down from HKD 83,370,000 at the end of 2017[10] - The company reported a net decrease of HKD 492,000 in retained earnings as of April 1, 2018, due to the initial application of HKFRS 9, which includes additional expected credit losses of HKD 98,000[21] - The company reported a significant increase in expected credit losses amounting to HKD 98,922, reflecting a decrease in retained earnings and accounts receivable by the same amount[37] Accounting Standards and Financial Reporting - The transition to HKFRS 9 resulted in the classification of financial assets into three main categories: amortized cost, fair value through other comprehensive income, and fair value through profit or loss[24] - The expected credit loss model under HKFRS 9 replaces the incurred loss model, allowing for earlier recognition of expected credit losses[27] - The company applies the new expected credit loss model to financial assets measured at amortized cost, including cash and trade receivables[30] - The financial statements are prepared based on historical cost, consistent with the accounting policies used in the previous annual report[17] Corporate Governance and Management - The board of directors decided not to declare an interim dividend for the nine months ended December 31, 2018, consistent with the previous year[7] - The company has maintained compliance with all corporate governance code provisions as of December 31, 2018[104] - The roles of the chairman and CEO are separated to enhance leadership and strategic planning efficiency[104] - There have been changes in the board composition, with Mr. Lee Wing Sun appointed as an independent non-executive director[108] Future Plans and Market Opportunities - The company plans to develop innovative software services for smart energy management and fault detection for building systems on a cloud platform[67] - The company is exploring business opportunities in mainland China, particularly in first-tier cities like Beijing and Shanghai[65] - The company aims to establish a green technology and product alliance to accelerate the implementation and adoption of related technologies[67] Project and Contract Information - The company has 156 ongoing projects in green building certification as of December 31, 2018, an increase from 132 projects as of December 31, 2017, indicating a growth of 18.2%[60] - The sustainable development and environmental consulting segment has 93 ongoing projects as of December 31, 2018, up from 68 projects in 2017, reflecting a growth of 36.8%[61] - The number of ongoing projects as of December 31, 2018, was 314, with a total contract value of approximately HKD 126,600,000[69] Tax and Deferred Tax - The company incurred a total tax expense of HKD 567,000 for the nine months ended December 31, 2018, compared to a tax expense of HKD 232,000 in 2017, representing an increase of approximately 144.4%[50] - The deferred tax expense for the nine months ended December 31, 2018, was HKD 582,000, significantly higher than HKD 34,000 in the previous year, indicating a substantial increase in deferred tax liabilities[50] Shareholder Information - Gold Investments holds 721,701,600 shares, representing 60.14% of the company's equity[98] - Dr. Wong Wing Ho owns 109,161,600 shares, accounting for 9.10% of the company's equity[98] - City Beat Limited holds 86,552,400 shares, which is 7.21% of the company's equity[98] Miscellaneous - The company has not applied any new standards or interpretations that are not yet effective during the current accounting period[18] - There were no significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the nine months ending December 31, 2018[85] - The company has no significant equity investments in other companies as of December 31, 2018, and no clear future plans for major investments or capital assets[84]